/raid1/www/Hosts/bankrupt/TCR_Public/211116.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
Tuesday, November 16, 2021, Vol. 25, No. 319
Headlines
340 BISCAYNE: Unsecureds to be Paid in Full with Interest in Plan
37 VENTURES: Files Amended Plan; Confirmation Hearing Feb. 16, 2022
37 VENTURES: Wins Cash Collateral Access
96 WYTHE: Wins Cash Collateral Access Thru Dec 13
ABDOUN ESTATE: Gets OK to Hire Blum Law Firm as Special Counsel
ACCO BRANDS: S&P Alters Outlook to Stable, Affirms 'BB-' ICR
ADVANCED CONTAINER: Posts $66,612 Net Profit in Third Quarter
AIRPORT HOSPITALITY: Seeks to Hire Desai Law Firm as Legal Counsel
AIRPORT VAN RENTAL: Seeks to Hire HKG LLP as Tax Accountant
ARMATA PHARMACEUTICALS: Incurs $5.4M Net Loss in Third Quarter
AVERY ASPHALT: Gets Cash Collateral Access Thru Nov 30
BABCOCK & WILCOX: Posts $13.7 Million Net Income in Third Quarter
BACTERIOSCAN INC: Voluntary Chapter 11 Case Summary
BAYOU POINTE: Case Summary & 2 Unsecured Creditors
BIONIK LABORATORIES: Incurs $1.3 Million Net Loss in Second Quarter
BLINK CHARGING: Incurs $15.3 Million Net Loss in Third Quarter
BLUEAVOCADO: Seeks Cash Collateral Access, $400,000 DIP Loan
BOSTON ROAD: Seeks to Hire Genderversity as Financial Advisor
BROOKLYN IMMUNOTHERAPEUTICS: Incurs $86.1M Net Loss in 3rd Quarter
CARLSON TRAVEL: Gets Quick Court Approval of Chapter 11 Path
CARLSON TRAVEL: Unsec. Creditors be Paid in Full or be Reinstated
CLEARPOINT NEURO: Incurs $4 Million Net Loss in Third Quarter
CMC II LLC: Unsec. Creditors to Recover 0.07% in Liquidating Plan
COLORADO HOMES: Seeks to Hire Bonnie Bell Bond as Legal Counsel
CONCORD INC: Wins Cash Collateral Access
CONNACHT CORPORATION: Case Summary & 12 Unsecured Creditors
COTY INC: S&P Raises ICR to 'B' on Debt Reduction, Outlook Stable
CRC BROADCASTING: Wins Interim Cash Access Thru Nov 30
CRYOMASS TECHNOLOGIES: Incurs $2.1-Mil. Net Loss in Third Quarter
DALTON CRANE: Gets Final Cash Collateral Access
DELCATH SYSTEMS: Incurs $7.1 Million Net Loss in Third Quarter
DIAMONDHEAD CASINO: Incurs $356K Net Loss in Third Quarter
DYNOTEC INDUSTRIES: Wins Cash Collateral Access Thru Feb 2022
E.W. SCRIPPS: S&P Upgrades ICR to 'B+' on Advertising Growth
EARTH ENERGY: Unsecured Creditors to Recover 50% in Plan
EVERGREEN DEVELOPMENT: Updates Minnesota Bank Secured Claims Pay
FLYNN RESTAURANT: S&P Rates New $80MM Senior Credit Facilities 'B'
FULL HOUSE: Posts $4.6 Million Net Income in Third Quarter
FUSE MEDICAL: Incurs $697K Net Loss in Third Quarter
FUTURUM COMMUNICATIONS: Wins Cash Collateral Access Thru Dec 31
GRUPO AEROMEXICO: Apollo Taking Stake in New Plan
HEMANI HOSPITALITY: Seeks Cash Collateral Access
HK FACILITY: May Use Cash Collateral Thu Dec 15
INNOVATION PHARMACEUTICALS: Incurs $2.1M Net Loss in 1st Quarter
INTERPACE BIOSCIENCES: Incurs $3.6 Million Net Loss in 3rd Quarter
JAKKS PACIFIC: Posts $36.4 Million Net Income in Third Quarter
K3D PROPERTY: Court OKs Cash Collateral Deal Thru Dec 31
KEVIN B. DEAN: U.S. Trustee Wins Sanctions Against Marcus Clegg
KTR GLOBAL: Dec. 14 Plan Confirmation Hearing Set
LAHAYE ENTERPRISES: Creditor Bound by Bankruptcy Plan Terms
LINDSAY YORK: Seeks to Hire Heller, Draper & Horn as New Counsel
LTI HOLDINGS: S&P Rates New 1st-Lien/Delayed-Draw Term Loans 'B-'
LUCID ENERGY: S&P Affirms 'B' ICR, Outlook Positive
MASTEC INC: S&P Alters Outlook to Positive, Affirms 'BB+' LT ICR
NATIONAL TRACTOR: Wins Cash Collateral Access Thru Dec 17
NEONODE INC: Incurs $1.7 Million Net Loss in Third Quarter
NOVABAY PHARMACEUTICALS: Completes Acquisition of DERMAdoctor
NTH SOLUTIONS: Wins Cash Collateral Access Thru Dec 13
OFS INT'L: Franklin Mountain Steps Down as Committee Member
ORG GC MIDCO: Nov. 22 Plan & Disclosure Hearing Set
PERKY JERKY: Case Summary & 20 Largest Unsecured Creditors
PERSEVERANCE GROUP: Gets Interim OK to Hire Real Estate Agent
PHIO PHARMACEUTICALS: Incurs $3.7 Million Net Loss in Third Quarter
PRECIPIO INC: Incurs $1.9 Million Net Loss in Third Quarter
REAGOR-DYKES MOTORS: Trustee May Not Answer Ford Credit Deposition
RED RIVER WASTE: Seeks Cash Collateral Access, $2.8MM DIP Loan
REGIONAL HEALTH: Posts $2.3 Million Net Loss in Third Quarter
RESHAPE LIFESCIENCES: Incurs $17.7 Million Net Loss in 3rd Quarter
RESTIERI HEALTHCARE: Wins Cash Collateral Access Thru Dec 16
RETIRED-N-FIT: Reorganization Plan Confirmed by Judge
SAVI TECHNOLOGY: Wins Access to Cash Collateral Thru Jan 2022
SCIENTIFIC GAMES: Posts $187 Million Net Income in Third Quarter
SINTX TECHNOLOGIES: Incurs $2.3 Million Net Loss in Third Quarter
SPRINGFIELD HOSPITAL: Vermont Regulators Approved Revised Budget
SUNLIGHT RIVER: Taps Sonoran Capital as Feasibility Expert
TENRGYS LLC: $54K Unsecured Claims to Recover 100% in Joint Plan
TRANS-LUX CORP: Incurs $999K Net Loss in Third Quarter
VTV THERAPEUTICS: Incurs $1.1 Million Net Loss in Third Quarter
WALHONDE TOOLS: Unsec. Creditors Will Get 1% of Claim in 5 Years
WHISPER LAKE: Seeks Cash Collateral Access
YIELD10 BIOSCIENCE: Incurs $2.4 Million Net Loss in Third Quarter
[^] Large Companies with Insolvent Balance Sheet
*********
340 BISCAYNE: Unsecureds to be Paid in Full with Interest in Plan
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340 Biscayne Owner LLC filed with the U.S. Bankruptcy Court for the
Southern District of Florida a Disclosure Statement and Plan of
Reorganization dated Nov. 9, 2021.
The Debtor's primary asset is the hotel located at 340 Biscayne
Boulevard in Miami, Florida, commonly known as Holiday Inn Port of
Miami-Downtown, (the "Hotel"), which Debtor has owned and operated
since 2015, along with a certain Ground Lease for the real property
on which the Hotel is situated.
The Hotel is managed by Ainbridge and operates under a Franchise
Agreement with Licensor under the name "Holiday Inn". The issues
that gave rise to this bankruptcy filing are related to limited
operations as a result of emergency orders issued by local
government in response to the COVID-19 pandemic, and a continued
instability of demand as the market continues to deal with COVID
19. These limited operations and continued instability led Debtor
to enter into a Forbearance Agreement with Lender, while Debtor
sought to refinance the Loan.
The expiration of the Forbearance left Debtor with no choice but to
file its Chapter 11 Petition in order to preserve the going concern
value of Debtor's assets and operations, restructure debt as
necessary to the operations of the Debtor's business, negotiate a
plan of reorganization, and work with all of its existing creditors
to address the impact of the temporary revenue reduction arising
from state and city regulations mandating the closure of the
Hotel.
The Plan will treat claims as follows:
* Class One consists of the Allowed Lender Claim. The Allowed
Lender Claim will be paid in full on the Effective Date. In the
event that the Secured Claim of Lender is not Allowed by Final
Order of the Court on or before the Effective Date, the Debtor will
escrow funds sufficient to pay the Secured Claim once Allowed, and
reserves the right to seek estimation of the Claim for such
purpose. This Class is unimpaired.
* Class Two consists of Non-Lender Secured Claims. On the
Effective Date the Debtor shall pay all Allowed Secured Claims
other than the Allowed Lender Claim in full. The Debtor is not
aware of any Non-Lender Secured Claims. This Class is unimpaired.
* Class Three consists of General Unsecured Creditors. The
General Unsecured claims include all Allowed Claims of Unsecured
Creditors that are not part of Classes 1 or 2, subject to any
Objections that are filed and sustained by the Court. On the
Effective Date, the Unsecured Creditors shall be paid in full, with
interest at the federal judgment rate of 2.59%, unless any Class 3
Creditor waives the right to interest or agrees to different
treatment. This Class is unimpaired.
* Class Four (Equity): BH Downtown, LLC shall retain its
equity in the Reorganized Debtor after payment of all Class 1, 2,
and 3 Claims in full. This Class is unimpaired.
The Debtor will refinance the existing secured debt (the
"Refinancing") with a new loan provided by lender Cirrus Real
Estate Partners LLC or an affiliated entity ("New Lender"). The
proceeds from the Refinancing will be used to make the
distributions under the Plan. The New Lender is a third-party
lender with no connection to Debtor or its principal. The New
Lender will loan Debtor approximately $46,000,000.00, which amount
will be sufficient to pay in full the Allowed Secured Debt and all
other Allowed Claims. The New Lender has no equity interest in
Debtor and will not have an equity in the Debtor after the
Effective Date.
The Debtor has a signed Term Sheet with the New Lender and is in
the process of preparing closing documents. The New Lender has
completed its due diligence with the exception of certain third
party reports and expects the due diligence to be completed by
November 20, 2021. Debtor believes that the Plan provides the best
value for the creditors' claims and is in their best interest since
all Allowed Claims shall be paid in full.
A full-text copy of the Disclosure Statement dated Nov. 9, 2021, is
available at https://bit.ly/30smH9p from PacerMonitor.com at no
charge.
Counsel for Debtor 340 Biscayne Owner:
PARDO JACKSON GAINSBURG, PL
200 Southeast 1st Street, Suite 700
Miami, Florida 33131
Telephone: (305) 358-1001
Facsimile: (305) 358-2001
E-mail: LJackson@pardojackson.com
LLovell@pardojackson.com
Linda Worton Jackson
Linsey Marie Lovell
About 340 Biscayne Owner
340 Biscayne Owner LLC is part of the hotels & motels industry. The
Debtor sought protection under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. S.D. Fla. Case No. 21-17203) on July 26, 2021. In the
petition signed by Cristiane Bomeny, manager, the Debtor disclosed
up to $500 million in assets and up to $50 million in liabilities.
Judge Laurel M. Isicoff oversees the case.
Linda Jackson, Esq., at Pardo Jackson Gainsburg, PL is the Debtor's
counsel.
37 VENTURES: Files Amended Plan; Confirmation Hearing Feb. 16, 2022
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37 Ventures, LLC and Larada Sciences, Inc., submitted a Modified
Third Amended Disclosure Statement to accompany Second Amended
Joint Plan of Reorganization.
The easing of the pandemic and related reopening of society will
solve the root cause of Larada's financial distress. As children
return to in-person school, camps, and other social gatherings,
lice will naturally return to spreading among children just as has
always occurred. Furthermore, with 37 Ventures payment of all or a
substantial portion of Alignment's debt pursuant to the Plan, which
37 Ventures guaranteed, and the related restructuring of payments
to its creditors pursuant to the Plan, Larada will have the time it
needs to eventually repay its creditors in full plus interest.
37 Ventures is not generating any cash flow from operations.
Rather, its revenue is derived from "liquidity events" of its
portfolio companies. Since the commencement of 37 Ventures' Chapter
11 case, one of its portfolio companies, Mobilecause, was merged
into a third party company; and, as a result of that merger, 37
Ventures received approximately $4.6 Million. Nevertheless, based
on the historic performance of other investments made by 37
Ventures and by Mr. Pikover, 37 Ventures believes that an outside
date of December 31, 2025 for achieving the funds necessary to pay
all of its creditors in full, with interest, is realistic.
Classes 2(a) and 2(b) – General Unsecured Claims against 37
Ventures. Class 2(a) shall consist of all Allowed General Unsecured
Claims against 37 Ventures other than Alignment's and Knight and
Bishop's Claims against 37 Ventures. Class 2(b) shall consist of
Knight and Bishop's General Unsecured Claim against 37 Ventures.
Allowed Class 2(a) and Class 2(b) Claims, including accrued but
unpaid interest thereon, shall be fully due and payable on December
31, 2025, unless paid prior to that date from a Company Liquidity
Event, or as otherwise provided in this Plan.
Class 6 shall consist of all Allowed General Unsecured Claims
against Larada, except for Alignment's Deficiency Claim. Larada
shall make Quarterly Pro Rata payments to holders of Class 5 and
Class 6 Claims, in the amount of 30 percent of the Remaining Larada
Quarterly Amount until such Claims are paid in full with interest.
Class 6 Claims shall be paid in full on or before Dec. 31, 2028.
Class 8(a) shall consist of all Convenience Claims against Larada
and Class 8(b) shall consist of all Convenience Claims against 37
Ventures. Each holder of an Allowed Convenience Class Claim shall
receive Cash in an amount equal to 75% of such Allowed Convenience
Class Claim on the later of October 15, 2022 and the date such
Convenience Class Claim becomes an Allowed Convenience Class Claim,
or as soon thereafter as is practicable.
Class 9 shall consist of all Equity Interests in 37 Ventures. Each
record holder of Equity Interests in 37 Ventures shall retain its
interest in 37 Ventures, as Reorganized 37 Ventures.
Class 10 shall consist of all Equity Interests in Larada. Each
record holder of Equity Interests in Larada shall retain its
interest in Larada, as Reorganized Larada.
Distributions under the Plan will be made from the following
sources: the 37 Ventures Net Effective Date Cash and, if
applicable, the Hawk contribution (same), Liquidity Event Net
Proceeds, the Larada Quarterly Payments and, if applicable, the
Larada Asset Sale Liquidity Event net proceeds.
Except as otherwise provided in this Plan, Reorganized Larada, as
of the Effective Date, shall be vested with all of the assets of
the Larada Estate; and Reorganized 37 Ventures, as of the Effective
Date, shall be vested with all of the assets of the 37 Ventures
Estate, including all claims and causes of action that existed
prior to, on or after the commencement of their respective chapter
11 cases.
The Bankruptcy Court has scheduled February 16, 2022 at 10:00 a.m.
via ZoomGov as the hearing to determine whether or not to confirm
the Plan.
Ballots must be received by January 3, 2022, at 5:00 p.m. to be
counted as votes. Objections to the confirmation of the Plan must
be filed by Jan. 24, 2022.
A full-text copy of the Modified Third Amended Disclosure Statement
dated Nov. 11, 2021, is available at https://bit.ly/3Cg14pJ from
PacerMonitor.com at no charge.
Counsel for debtor 37 Ventures, LLC:
Gary E. Klausner, Esq.
Eve H. Karasik, Esq.
Jeffrey S. Kwong, Esq.
Levene, Neale, Bender, Yoo & Brill L.L.P.
10250 Constellation Blvd., Ste. 1700
Los Angeles, CA 90067
Telephone: (310) 229-1234
Facsimile: (310) 229-1244
Email: gek@lnbyb.com
ehk@lnbyb.com
jsk@lnbyb.com
Counsel for debtor Larada Sciences, Inc.:
George Hofmann, Esq.
Cohne Kinghorn, P.C.
111 East Broadway, 11th Floor
Salt Lake City, UT 84111
Telephone: (801) 363-4300
- and -
Derrick Talerico, Esq.
David B. Zolkin, Esq.
Zolkin Talerico LLP
12121 Wilshire Blvd., Suite 1120
Los Angeles, CA 90025
Telephone: (424) 500-8551
Facsimile: (424) 500-8951
E-mail: dtalerico@ztlegal.com
dzolkin@ztlegal.com
About 37 Ventures
37 Ventures, LLC, a company based in Thousand Oaks, Calif., sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D.
Cal. Case No. 21-10261) on March 18, 2021. Its affiliate, Larada
Sciences, Inc., a Utah-based company that owns and operates clinics
dedicated to head lice prevention and treatment, filed a Chapter 11
petition (Bankr. C.D. Calif. Case No. 21-10269) on March 19, 2021.
The cases are jointly administered under Case No. 21-10261. Judge
Deborah J. Saltzman oversees the cases.
In their petitions, 37 Ventures and Larada Sciences disclosed
assets of between $1 million and $10 million and liabilities of
between $10 million and $50 million.
Levene Neale Bender Yoo & Brill, LLP, serves as 37 Ventures' legal
counsel. Larada Sciences tapped Cohne Kinghorn, PC, as bankruptcy
counsel, Zolkin Talerico LLP as local counsel, and Rocky Mountain
Advisory, LLC as financial advisor.
37 VENTURES: Wins Cash Collateral Access
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The U.S. Bankruptcy Court for the Central District of California,
Northern Division, has authorized:
-- Larada Sciences, Inc. to use cash collateral on an interim
basis; and
-- 37 Ventures, LLC to make an interim distribution to 37
Ventures' allowed unsecured creditors other than Alignment Debt
Holdings 1, LLC, in the amount of 9.93% of its creditors' claims
from the proceeds of the sale of MobileCause, Inc. securities.
The only entity with a true interest in Larada's cash collateral is
Alignment Debt Holdings 1, LLC, as Agent for Alignment Investor II,
LLC. Alignment's collateral is worth substantially less than the
debt owed to Alignment; accordingly, Alignment is undersecured.
There are approximately 27 separate Subdebt Holders who are
collectively owed approximately $4 million in principal amount.
Junior in priority to Alignment are a number of holders of
"subdebt".
Alignment and the Subdebt Holders are not secured creditors of 37
Ventures, rather 37 Ventures is merely a guarantor of the Alignment
loan to Larada.
The cash collateral in Larada's possession are proceeds of its
operations for periods on and before the Larada Petition Date that
have been segregated from post-petition proceeds, which totals
$258,747 as of August 31, 2021.
After 37 Ventures' Petition Date, MobileCause experienced a
liquidity event that, in substance, constituted a sale of 37
Ventures' MobileCause securities, for which it received net cash
proceeds of $4,553,293. Those funds have been maintained in 37
Ventures' debtor-in-possession bank account.
37 Ventures has agreed to use the proceeds of the sale of the
MobileCause securities to pay its unsecured creditors a pro rata
percentage of the amount each is owed, including $1,000,000 to
Alignment.
According to the best information available to 37 Ventures, it
believes that the amount owed to Alignment as of the Larada
Petition Date is $9,925,120. Accordingly, 37 Ventures proposed to
make the Interim Distribution to its unsecured creditors other than
Alignment in the amount of 9.93% of its creditors' claims upon
approval of the Motion.
A copy of the order is available at https://bit.ly/3Fgmt46 from
PacerMonitor.com.
About 37 Ventures
37 Ventures, LLC, a company based in Thousand Oaks, Calif., sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D.
Cal. Case No. 21-10261) on March 18, 2021. Its affiliate, Larada
Sciences, Inc., a Utah-based company that owns and operates clinics
dedicated to head lice prevention and treatment, filed a Chapter 11
petition (Bankr. C.D. Calif. Case No. 21-10269) on March 19, 2021.
The cases are jointly administered under Case No. 21-10261.
Judge Deborah J. Saltzman oversees the cases.
In their petitions, 37 Ventures and Larada Sciences disclosed
assets of between $1 million and $10 million and liabilities of
between $10 million and $50 million.
Levene Neale Bender Yoo & Brill, LLP serves as 37 Ventures' legal
counsel. Larada Sciences tapped Cohne Kinghorn, PC as bankruptcy
counsel, Zolkin Talerico LLP as local counsel, and Rocky Mountain
Advisory, LLC as financial advisor.
96 WYTHE: Wins Cash Collateral Access Thru Dec 13
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The U.S. Bankruptcy Court for the Southern District of New York has
authorized 96 Wythe Acquisition LLC to use cash collateral on an
further interim basis to pay:
-- the ordinary, necessary and reasonable expenses of
operating the Williamsburg Hotel as they come due in the ordinary
course of business during the Interim Period, plus
-- $15,000 to Leitner Berman, but expressly excluding any
other professional fees.
The Debtor is permitted to use cash collateral through the earliest
to occur of: (i) December 13, 2021, unless extended by its lender
or a further extension of authority is granted by the Court, (ii)
the entry of a Court order terminating such authority; (iii) the
dismissal of the Chapter 11 case or conversion to a case under
Chapter 7 of the Bankruptcy Code; and (iv) the date that is five
days after the Lender provides a written notice of an Event of
Default, except to the extent the Court has entered a further
interim or final order authorizing the Debtor's continued use of
cash collateral beyond the Interim Period.
As adequate protection, the lender, Benefit Street Partners Realty
Operating Partnership, L.P., is granted additional and replacement
valid, binding, enforceable, nonavoidable, and automatically
perfected postpetition security interests in and liens on, without
the necessity of the execution by the Debtor (or recordation or
other filing) of security agreements, control agreements, pledge
agreements, financing statements, mortgages, or other similar
documents, on all property.
The Adequate Protection Liens will be junior only to: (A) the
Lender's prepetition liens, and (B) other unavoidable liens, if
any, existing as of the Petition Date that are senior in priority
to the Lender's prepetition liens. The Adequate Protection Liens
will be subject to a $10,000 carve-out for Chapter 7 administration
expenses to the extent necessary for the Debtor's payment of fees
incurred under 28 U.S.C. section 1930 and statutory fees required
to be paid to the Clerk of the Court.
The Lender is also granted an allowed administrative expense claim
ahead of and senior to any and all other administrative expense
claims in the Case, with the exception of the Carve-Out, to the
extent of any diminution.
The Debtor is required to maintain all necessary insurance as
required under the Prepetition Loan Documents, naming the Lender as
a notice party and additional insured, and will promptly provide
the Lender with proofs of insurance for the Hotel and copies of
all documents related to any insurance premium financing
arrangement the Debtor may have.
These events constitute Events of Default:
(i) The Debtor's failure to comply with any of the terms of
the Interim Order (including compliance with the Budget);
(ii) The obtaining of credit or incurring of indebtedness
outside of the ordinary course of business that is either secured
by a security interest or lien that is equal or senior to any
security interest or lien of the Lender or entitled to priority
administrative status that is equal or senior to that granted to
the Lender; and
(iii) Entry of an order by the Court granting relief from or
modifying the automatic stay under section 362 of the Bankruptcy
Code to allow a creditor to execute upon or enforce a lien or
security interest in any collateral that would have a material
adverse effect on the business, operations, property or assets of
the Debtor.
The final hearing on the matter is scheduled for December 13 at 10
a.m.
A copy of the Order is available at https://bit.ly/3Fe7gQY from
PacerMonitor.com.
About 96 Wythe Acquisition LLC
96 Wythe Acquisition LLC is a privately held company whose
principal property is located at 96 Wythe Ave, Brooklyn, NY 11249.
96 Wythe Acquisition sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 1-22108) on February 23,
2021. In the petition signed by David Goldwasser, chief
restructuring officer, the Debtor disclosed $0 in assets and
$79,990,206 in liabilities.
Judge Robert D. Drain oversees the case.
Backenroth Frankel & Krinsky, LLP, led by Mark Frankel, is the
Debtor's counsel.
ABDOUN ESTATE: Gets OK to Hire Blum Law Firm as Special Counsel
---------------------------------------------------------------
Abdoun Estate Holdings, LLC received approval from the U.S.
Bankruptcy Court for the Eastern District of Michigan to employ The
Blum Law Firm as its special counsel.
The firm will represent the Debtor in the adversary proceeding
captioned, Abdoun Estate Holdings, LLC v. Abdulnoor, et al.,
Bankruptcy Court AP Case No. 21-04239-tjt.
Alexander Blum, Esq., the sole attorney at the firm, will bill $250
per hour for his services. The retainer fee is $2,000.
Mr. Blum disclosed in a court filing that his firm is a
"disinterested person" as defined in Section 101(14) of the
Bankruptcy Code.
The firm can be reached through:
Alexander E. Blum, Esq.
The Blum Law Firm
777 Main Street, Suite 550
Fort Worth, TX 76102
Phone: 817-334-0066
Fax: 817-334-0078
Email: alexblumlaw@outlook.com
About Abdoun Estate Holdings LLC
Abdoun Estate Holdings, LLC is a single asset real estate debtor
(as defined in 11 U.S.C. Section 101(51B)) based in Southfield,
Mich.
Abdoun Estate Holdings filed its voluntary petition for Chapter 11
protection (Bankr. E.D. Mich. Case No. 21-48063) on Oct. 11, 2021,
listing as much as $10 million in both assets and liabilities.
Ahmad Abulabon, managing member of Abdoun Estate Holdings, signed
the petition.
Judge Thomas J. Tucker oversees the case.
Yuliy Osipov, Esq., at Osipov Bigelman, P.C. and The Blum Law Firm
serve as the Debtor's bankruptcy counsel and special counsel,
respectively.
ACCO BRANDS: S&P Alters Outlook to Stable, Affirms 'BB-' ICR
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S&P Global Ratings revised the outlook to stable from negative on
U.S.-based ACCO Brands Corp.. At the same time, S&P affirmed its
'BB-' issuer credit rating on ACCO.
S&P said, "We affirmed our 'BB-' issue-level rating on the
company's senior unsecured debt. The recovery rating remains '4',
indicating our expectation of average (30%-50%; rounded estimate:
30%) recovery in the event of a payment default.
"The stable outlook reflects our expectation that demand will
continue to rebound and pricing will largely mitigate inflation,
resulting in leverage improving to and sustained at about 5x or
below over the next 12 months.
"We revised the outlook to stable due to improvement in operating
performance and an expected reduction in leverage. During the third
quarter ended Sept. 30, 2021, ACCO's net sales grew 18.6%
(comparable sales grew 4.3%) due to the acquisition of PowerA and
recovery in its school and commercial businesses. Following the
closure of offices and schools throughout 2020 due to the pandemic,
demand has started to improve, particularly on the school supplies
side. Back to school sell-out for 2021 was strong and didn't result
in inventory overhang, and although office recovery has been slower
than originally expected due to the spread of the Delta variant, we
do expect continued improvement in sales as workers return to
offices in late 2021 and early 2022 and schools in Brazil return to
in-person learning. The company also saw a strong growth in EMEA
due to continued recovery of end markets and market share gains.
These factors resulted in adjusted EBITDA margins improving to
14.2% for the trailing 12 months ended Sept. 30, 2021 compared with
14% during the same period the previous year. Leverage declined to
5.3x compared with over 6x following the PowerA acquisition in the
fourth quarter of 2020.
"Demand tailwinds across the commercial and consumer segments will
continue to drive profitability growth. Although recovery in the
commercial side of the business has been slower than expected due
to the Delta variant delaying a return to offices, we do expect
most workers to have substantially returned by the first half of
fiscal 2022. While we do believe the landscape of the commercial
business will shift with greater adoption of hybrid working
environments, we expect the improvement in sales to drive stronger
product mix and operating leverage, which should benefit
profitability, resulting in our expectation of margin expansion to
15%-15.5% for fiscal 2022 from 14%-14.5% in fiscal 2021. In
addition, we expect continued strong demand for PowerA controllers.
As such, we forecast leverage of 4.5x-5x for fiscal 2021 and
4x-4.5x for fiscal 2022.
Supply chain and inflation risks persist, but we expect the
"company to be able to largely offset costs. Inflationary pressures
did affect the company, with gross margins slightly declining to
31.7% for the third quarter of fiscal 2021 compared with 33.6% a
quarter ago. While we do not expect these pressures to abate in the
near term, we expect the company will continue taking measures to
mitigate their impacts. The company increased pricing throughout
fiscal 2021; we expect further pricing to offset the impacts from
raw material, logistics, and labor cost inflation. The company's
product mix will improve as offices reopen and commercial sales
increase.
"Despite it being acquisitive, we expect the company to maintain
leverage of under 5x over the longer term. The company has been
acquisitive throughout its history, acquiring PowerA in 2020,
Foroni in 2019, and GOBA in 2018. We expect the company to continue
making acquisitions in the consumer-facing space to drive higher
revenue growth while maintaining leverage below 5x. Historically,
some of the products in the company's commercial segment were in
secular decline; as such, we expect the company to round out its
portfolio and add incremental revenue with faster-growing consumer
durables that are less cyclical. Over the longer term, we would
expect the company to maintain pro forma leverage of under 5x;
However, it could occasionally cross this threshold for
acquisitions, but return below it within a couple of quarters.
"The stable outlook reflects our expectation for leverage to stay
below 5x over the next 12 months."
S&P could lower the rating if leverage remained above 5x, which
could result from:
-- Drop in customer demand due to price sensitivity or further
closures or delays in reopening of schools and offices;
-- The company adopting more aggressive financial policies,
including making sizable debt-funded acquisitions or share
repurchases;
-- Substantial supply chain or inflationary pressures that cause
margin degradation that the company cannot offset.
S&P could raise the rating if the company maintained leverage below
4x over the longer term, which could happen if:
-- Operating performance continued to improve from organic revenue
growth and margin expansion due to stronger pricing, mix, and cost
management; and
-- The company committed to and demonstrated a more conservative
financial policy.
ADVANCED CONTAINER: Posts $66,612 Net Profit in Third Quarter
-------------------------------------------------------------
Advanced Container Technologies, Inc. filed with the Securities and
Exchange Commission its Quarterly Report on Form 10-Q disclosing
net profit of $66,612 on $1.45 million of revenues for the three
months ended Sept. 30, 2021, compared to net profit of $86,737 on
$671,853 of revenues for the three months ended Sept. 30, 2020.
For the nine months ended Sept. 30, 2021, the Company reported a
net loss of $527,773 on $4.08 million of revenues compared to a net
loss of $503,585 on $1.52 million of revenues for the nine months
ended Sept. 30, 2020.
As of Sept. 30, 2021, the Company had $4.34 million in total
assets, $2.10 million in total liabilities, and $2.24 million in
total stockholders' equity.
As of Sept. 30, 2021, the Company had $195,563 in cash and accounts
receivable of $177,454. As of Sept. 30, 2021, and Dec. 31, 2020,
the Company had negative working capital of $801,907 and
$1,208,780, respectively. As of Sept. 30, 2021, the Company had no
commitments for capital expenditures. As of that date, the Company
had inventory of approximately 103,000 Medtainer products,
approximately 283,000 units of other products and one GrowPod unit.
During the nine months ended Sept. 30, 2021, the Company
experienced negative cash flow from operations of $497,796 and
$375,991 of cash flows from financing activities. During the nine
months ended Sept. 30, 2020, the Company experienced negative cash
flow from operations of $66,141 and $258,921 of cash flows from
financing activities. Cash used in operating activities was
primarily a result of the Company's net loss, partially offset by
the non-cash items of share-based compensation and amortization,
the decrease in operating liabilities and an increase in operating
assets. The Company used $16,000 and $40,000 in cash from
investing activities for the nine-month periods ending Sept. 30,
2021, and Sept. 30, 2020, respectively. Cash provided from
financing activities increased from $258,921 for the nine-month
period ending Sept. 30, 2020, to $375,991 for the nine-month period
ending Sept. 30, 2021. The increase in cash provided from
financing activities was primarily a result of an increase in
proceeds from the issuance of Common Stock.
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1096950/000172186821000777/f2sactx10q110421.htm
About Advanced Container
Corona, Calif.-based Advanced Container Technologies, Inc.
--www.advancedcontainertechnologies.com -- markets and sells two
principal products: (i) GrowPods, which are specially modified
insulated shipping containers manufactured by GP Solutions, Inc.,
in which plants, herbs and spices may be grown hydroponically in a
controlled environment and (ii) Medtainers, which may be used to
store pharmaceuticals, herbs, teas and other solids or liquids and
can grind solids and shred herbs.
Advanced Container reported a net loss of $579,031 for the year
ended Dec. 31, 2020, compared to a net loss of $1.41 million for
the year ended Dec. 31, 2019. As of June 30, 2021, the Company had
$4.41 million in total assets, $2.23 million in total liabilities,
and $2.18 million in total stockholders' equity.
Irvine, California-based Haskell & White LLP, the Company's auditor
since 2019, issued a "going concern" qualification in its report
dated April 15, 2021, citing that the Company has a working capital
deficit, continued operating losses since inception, and has notes
payable that are currently in default. These matters raise
substantial doubt about the Company's ability to continue as a
going concern.
AIRPORT HOSPITALITY: Seeks to Hire Desai Law Firm as Legal Counsel
------------------------------------------------------------------
Airport Hospitality, LLC seeks approval from the U.S. Bankruptcy
Court for the Eastern District of Missouri to hire The Desai Law
Firm, LLC to serve as legal counsel in its Chapter 11 case.
The firm's services include:
a. advising the Debtor with respect to its rights, power and
duties in this Chapter 11 case;
b. assisting and advising the Debtor in its consultations with
any appointed committee relative to the administration of the
case;
c. assisting the Debtor in analyzing the claims of creditors
and negotiating with such creditors;
d. assisting in the investigation of the assets, liabilities
and financial condition of the Debtor and reorganizing the Debtor's
business;
e. advising the Debtor in connection with the sale of its
assets or business;
f. assisting the Debtor in its analysis of and negotiation
with any appointed committee or any third-party concerning matters
related to, among other things, the terms of a plan of
reorganization;
g. assisting and advising the Debtor with respect to any
communications with the general creditor body regarding significant
matters in this case;
h. commencing and prosecuting necessary and appropriate
actions or proceedings;
i. reviewing, analyzing or preparing legal documents;
j. representing the Debtor at all hearings and other
proceedings;
k. conferring with other professional advisors retained by the
Debtor in providing advice;
l. assisting the Debtor in pending litigation matters in which
it may be involved, including continued prosecution or defense of
actions and negotiations on the Debtor's behalf; and
m. performing all other necessary legal services.
Partners and associates at the firm charge $385 per hour and $250
per hour, respectively. Paralegals and law clerks charge $125 per
hour for their services.
The firm received a retainer in the amount of $5,000.
As disclosed in court filings, Desai Law Firm is a "disinterested
person" as that phrase is defined in Section 101(14) of the
Bankruptcy Code.
The firm can be reached through:
Spencer P. Desai, Esq.
The Desai Law Firm
13321 North Outer Forty Road, Suite 300
St. Louis, MO 63017
Tel: (314) 666-9781
Fax: (314) 448-4320
Email: spd@desailawfirmllc.com
About Airport Hospitality
Bridgeton, Mo.-based Airport Hospitality, LLC filed its voluntary
petition for Chapter 11 protection (Bankr. E.D. Mo. Case No.
21-43925) on Oct. 26, 2021, listing as much as $10 million in both
assets and liabilities. Harinder Singh, manager, signed the
petition. Spencer Desai, Esq., at The Desai Law Firm represents
the Debtor as legal counsel.
AIRPORT VAN RENTAL: Seeks to Hire HKG LLP as Tax Accountant
-----------------------------------------------------------
Airport Van Rental, Inc. and its affiliates seek approval from the
U.S. Bankruptcy Court for the Central District of California to
employ HKG LLP as their tax accountant.
HKG will be paid a flat fee of $35,000 to prepare and file the
Debtors' 2020 federal and state income tax returns.
As disclosed in court filings, HKG does not have an interest
materially adverse to the interest of the Debtors' estate,
creditors and equity security holders, .
The firm can be reached through:
Eric Gronroos
HKG, LLP
100 W. Walnut St., 7th Floor
Pasadena, CA 91124
Phone: +1 626-585-0666
Email: egronroos@hkgllp.com
About Airport Van Rental
Airport Van Rental, Inc. -- https://www.airportvanrental.com -- is
a van rental company offering short and long-term rentals for road
trips, weekend journeys, moving, and any other group outings.
Airport Van Rental and its affiliates filed their voluntary
petition for relief under Chapter 11 of the Bankruptcy Code (Bankr.
C.D. Calif. Lead Case No. 20-20876) on Dec. 11, 2020. Yazdan Irani,
president and chief executive officer, signed the petitions. In
its petition, Airport Van Rental disclosed assets of between $10
million and $50 million and liabilities of the same range.
Judge Sheri Bluebond oversees the cases.
The Debtors tapped Danning, Gill, Israel & Krasnoff, LLP as their
bankruptcy counsel; CSA Partners LLC as financial consultant; Joel
Glaser, APC as litigation counsel; McClellan Davis, LLC as tax
counsel; and HKG LLP as tax accountant. Kevin S. Tierney is the
Debtors' chief reorganization officer.
The U.S. Trustee for Region 16 appointed an official committee of
unsecured creditors on Feb. 3, 2021. Elkins Kalt Weintraub Reuben
Gartside, LLP and B. Riley Advisory Services serve as the
committee's bankruptcy counsel and financial advisor, respectively.
ARMATA PHARMACEUTICALS: Incurs $5.4M Net Loss in Third Quarter
--------------------------------------------------------------
Armata Pharmaceuticals, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $5.42 million on $1.25 million of grant revenue for the three
months ended Sept. 30, 2021, compared to a net loss of $5.77
million on $288,000 of grant of revenue for the three months ended
Sept. 30, 2020.
For the nine months ended Sept. 30, 2021, the Company reported a
net loss of $17.11 million on $3.49 million of grant revenue
compared to a net loss of $15.56 million on $319,000 of grant
revenue for the same period during the prior year.
As of Sept. 30, 2021, the Company had $42.67 million in total
assets, $18.92 million in total liabilities, and $23.76 million in
total stockholders' equity.
The Company stated, "The Company has prepared its consolidated
financial statements on a going concern basis, which assumes that
the Company will realize its assets and satisfy its liabilities in
the normal course of business. However, the Company has incurred
net losses since its inception and has negative operating cash
flows. These circumstances raise substantial doubt about the
Company's ability to continue as a going concern.
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/921114/000155837021015483/armp-20210930x10q.htm
About Armata Pharmaceuticals
Marina del Rey, CA-based Armata is a clinical-stage biotechnology
company focused on the development of pathogen-specific
bacteriophage therapeutics for the treatment of
antibiotic-resistant and difficult-to-treat bacterial infections
using its proprietary bacteriophage-based technology. Armata is
developing and advancing a broad pipeline of natural and synthetic
phage candidates, including clinical candidates for Pseudomonas
aeruginosa, Staphylococcus aureus, and other pathogens. In
addition, in collaboration with Merck, known as MSD outside of the
United States and Canada, Armata is developing proprietary
synthetic phage candidates to target an undisclosed infectious
disease agent. Armata is committed to advancing phage with drug
development expertise that spans bench to clinic including
in-house
phage specific GMP manufacturing.
Armata reported a net loss of $22.18 million for the year ended
Dec. 31, 2020, compared to a net loss of $19.48 million for the
year ended Dec. 31, 2019. As of June 30, 2021, the Company had
$48.28 million in total assets, $19.66 million in total
liabilities, and $28.62 million in total stockholders' equity.
AVERY ASPHALT: Gets Cash Collateral Access Thru Nov 30
------------------------------------------------------
The U.S. Bankruptcy Court for the District of Colorado has
authorized Avery Asphalt, Inc. and affiliates to use cash
collateral through November 30, 2021.
The Debtors are permitted to use cash collateral pursuant to the
Budget with a line-item variance of no more than 15% per month and
an overall budget variance of no more than 15% in the aggregate per
month. The estimated expenses may exceed these limits with prior
written approval from Sunflower Bank.
The Court says each of the Secured Parties -- Sunflower Bank;
Greenline CDF Subfund XXIII LLC; the Colorado Department of Revenue
(CODOR); and Nationwide Mutual Insurance Company -- are granted
replacement liens and security interest on the Debtor's
post-petition assets with the same priority and validity as the
secured parties' pre-petition liens and security interests to the
extent of the Debtor's post-petition use of cash on hand and the
proceeds of Prepetition Personal Property, if any.
To the extent that the Adequate Protection Liens prove to be
insufficient, each of the Secured Parties, as applicable, will be
granted superpriority administrative expense claims under Section
507(b) of the Bankruptcy Code to the extent that the Secured Party
has a valid allowed secured claim under Section 506(a) in the cash
collateral used.
The Debtor and its debtor-affiliates are directed to maintain
insurance coverage on the Prepetition Personal Property and any
real property for the full replacement value of any such assets and
will cause Sunflower to be named as a loss payee for the insurance
policies.
A copy of the order is available for free at https://bit.ly/3wJj7n9
from PacerMonitor.com.
About Avery Asphalt, Inc.
Avery Asphalt, Inc. is the main operating company and installs,
maintains, and improves roadways, parking lots, and other outdoor
surfaces. Avery Equipment, LLC owns the equipment used in Avery
Asphalt's business. Avery Holdings, LLC owns the real estate used
in Avery Asphalt's business. LBLA Ventures, Inc. is the holding
company for a non-operating Arizona asphalt company and 1401 S.
22nd Ave., LLC owns the real estate that was formerly used by
Regional Pavement Maintenance of Arizona, Inc. in its business.
Avery Asphalt and its affiliates sought protection under Chapter 11
of the U.S. Bankruptcy Code (Bankr. D. Colo. Lead Case No.
21-10799) on February 19, 2021. The bankruptcy was filed after a
receiver was appointed for all the Debtors in one state court case.
The receivership hampered Avery Asphalt's ability to operate
profitably. The Debtors believe this reorganization proceeding will
facilitate a better return to creditors than a receivership or
liquidation. The Debtors intend to streamline operations and sell
equipment and real estate that is no longer used by Avery Asphalt
in connection with a plan of reorganization.
In the petition signed by CEO Aaron Avery, the Debtors disclosed up
to $50,000 in assets and up to $10 million in liabilities.
Judge Michael E. Romero oversees the case.
David J. Warner, Esq., at Wadsworth Garber Warner Conrardy, P.C. is
the Debtor's counsel.
BABCOCK & WILCOX: Posts $13.7 Million Net Income in Third Quarter
-----------------------------------------------------------------
Babcock & Wilcox Enterprises, Inc. filed with the Securities and
Exchange Commission its Quarterly Report on Form 10-Q disclosing
net income of $13.65 million on $159.96 million of revenue for the
three months ended Sept. 30, 2021, compared to net income of $34.56
million on $132.51 million of revenues for the three months ended
Sept. 30, 2020.
For the nine months ended Sept. 30, 2021, the Company reported net
income of $1.35 million on $531.07 million of revenues compared to
a net loss of $15.31 million on $416.46 million of revenues for the
three months ended Sept. 30, 2020.
As of Sept. 30, 2021, the Company had $729.36 million in total
assets, $708.96 million in total liabilities, and $20.40 million in
total stockholders' equity.
Management Commentary
"Our better-than-anticipated results in the third quarter of 2021,
combined with recent and anticipated bookings, have positioned us
for a robust fourth quarter and an even stronger 2022," said
Kenneth Young, B&W's chairman and chief executive officer.
"Despite the continued adverse effects of COVID-19 on our customers
and global supply chain challenges, we are doing what we said we'd
do--booking Renewable waste-to-energy projects, growing our
Environmental business, investing in our ClimateBrightTM
decarbonization platform and expanding our clean energy offerings
through strategic acquisitions."
"During the third quarter, we booked two renewable new-build
projects, including a $35 million contract to supply
waste-to-energy technologies for new-build facilities in Greenland
and a $38 million technology award for new-build waste-to-energy
facilities in East Asia, and we've made significant progress toward
booking another two or three renewable new-build projects in 2021,"
Young continued. "In addition, our ongoing international expansion
helped drive the award of two environmental emissions contracts in
the Asia-Pacific region during the third quarter, while interest in
our decarbonization technologies is expanding, as demonstrated by
our recent agreement to jointly develop an innovative
biomass-to-hydrogen clean energy project in Australia utilizing our
BrightLoopTM hydrogen production technology."
"We also further expanded our clean and renewable energy businesses
by announcing two acquisitions in the third quarter," Young added.
"We closed the acquisition of a controlling stake in a leading
solar installation and services firm, Fosler Construction Company
Inc., at the end of September, and we're excited about the
substantial opportunities we see for solar installation and
construction services in the U.S. and the support we can provide to
further accelerate Fosler's growth. We also signed an agreement to
acquire VODA A/S in Denmark, which in conjunction with our existing
aftermarket services business, will form B&W Renewable Service to
create a platform for our expanding renewable service business in
Europe. We are continuing to explore additional acquisition
opportunities in both emerging technologies and mature markets and
aggressively pursuing opportunities to further increase shareholder
value."
"Our continued pursuit of an overall pipeline of more than $6.5
billion of identified project opportunities through 2024 has led to
accelerating bookings momentum with bookings of approximately $90
million in October 2021 alone. Additionally, for the full-year
2021, we are anticipating the highest level of annual bookings
since 2017 and we expect to end the year with significantly higher
backlog compared to the end of 2020. More than 60% of our pipeline
is related to Renewable and Environmental opportunities, which will
directly reflect the performance of our long-term strategy," Young
stated. "Based on current expectations, including the impact of
the COVID-19 Delta variant on our customers and our supply chain
disruptions, we are targeting at least $70 million of adjusted
EBITDA for full year 2021, which represents a significant
operational improvement compared to 2020. We are also raising our
2022 adjusted EBITDA target to $110 million to $120 million as we
anticipate the continued momentum of our ongoing growth strategies,
strong backlog, accelerating bookings, and acquisition strategy."
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1630805/000163080521000052/bw-20210930.htm
About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises is a
growing, globally-focused renewable, environmental and thermal
technologies provider with decades of experience providing
diversified energy and emissions control solutions to a broad
range
of industrial, electrical utility, municipal and other customers.
B&W's innovative products and services are organized into three
market-facing segments which changed in the third quarter of 2020
as part of the Company's strategic, market-focused organizational
and re-branding initiative to accelerate growth and provide
stakeholders improved visibility into its renewable and
environmental growth platforms.
Babcock & Wilcox reported net losses of $10.30 million in 2020,
$129.04 million in 2019, $724.86 million in 2018, $379.01 million
in 2017, and $115.08 million in 2016. As of June 30, 2021, the
Company had $665.14 million in total assets, $680.86 million in
total liabilities, and a total stockholders' deficit of $15.72
million.
BACTERIOSCAN INC: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: BacterioScan, Inc.
2210 Welsch Industrial Court
Saint Louis, MO 63146
Business Description: BacterioScan, Inc. is a medical device
company dedicated to changing the way
infectious disease is diagnosed and treated.
BacterioScan's platform is built on the
expedited detection and antibiotic
susceptibility testing of pathogens.
BacterioScan's laser scattering technology
offers clinicians quick detection of
bacteria, improving the selection of
antibiotic therapy, reducing excess or
inappropriate use of antibiotics and
deterring the development of antibiotic
resistance.
Chapter 11 Petition Date: November 15, 2021
Court: United States Bankruptcy Court
Eastern District of Missouri
Case No.: 21-44179
Judge: Hon. Bonnie L. Clair
Debtor's Counsel: A. Thomas DeWoskin, Esq.
DANNA MCKITRICK, P.C.
7701 Forshyth Blvd.
Suite 1200
St. Louis, MO 63105
Tel: 314-889-7128
Email: tdewoskin@dmfirm.com
Estimated Assets: $500,000 to $1 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Kenneth Howard as chairman.
The Debtor failed to include in the petition a list of its 20
largest unsecured creditors.
A full-text copy of the petition is available for free at
PacerMonitor.com at:
https://www.pacermonitor.com/view/DPE7RAA/BacterioScan_Inc__moebke-21-44179__0001.0.pdf?mcid=tGE4TAMA
BAYOU POINTE: Case Summary & 2 Unsecured Creditors
--------------------------------------------------
Debtor: Bayou Pointe Villas, Inc.
1320 E 5th Street
Panama City, FL 32401
Business Description: Bayou Pointe Villas, Inc. is a tax-exempt
501(c) non-profit entity.
Chapter 11 Petition Date: November 12, 2021
Court: United States Bankruptcy Court
Northern District of Florida
Case No.: 21-50111
Debtor's Counsel: Michael A. Wynn, Esq.
CHARLES WYNN LAW OFFICES, P.A.
P.O. Box 146
Marianna, FL 32447-0147
Tel: (850) 526-3520
Fax: (850) 526-5210
Email: michael@wynnlaw-fl.com
Total Assets: $408,751
Total Liabilities: $2,216,188
The petition was signed by Jeff Tripp as president.
A full-text copy of the petition containing, among other items, a
list of the Debtor's two unsecured creditors is available for free
at PacerMonitor.com at:
https://www.pacermonitor.com/view/OKTUN4I/Bayou_Pointe_Villas_Inc__flnbke-21-50111__0001.0.pdf?mcid=tGE4TAMA
BIONIK LABORATORIES: Incurs $1.3 Million Net Loss in Second Quarter
-------------------------------------------------------------------
Bionik Laboratories Corp. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $1.27 million on $227,905 of net revenues for the three months
ended Sept. 30, 2021, compared to a net loss of $1.63 million on
$292,381 of net revenues for the three months ended Sept. 30,
2020.
For the six months ended Sept. 30, 2021, the Company reported a net
loss of $1.72 million on $899,188 of net revenues compared to a net
loss of $3.63 million on $550,289 of net revenues for the six
months ended Sept. 30, 2020.
As of Sept. 30, 2021, the Company had $12.46 million in total
assets, $10.12 million in total liabilities, and $2.34 million in
total stockholders' equity.
Rich Russo, chief financial officer and interim chief executive
officer, commented, "In the fiscal second quarter, BIONIK continued
to advance on many fronts. We've been building a strong pipeline
that reflects a re-start of our sales and marketing programs as
well as some creative new financing solutions designed to lessen
the impact of a long sales cycle. We've also begun to expand our
relationship with BitStrapped to further develop our machine
learning and artificial intelligence capabilities. We completed a
capital raise in July, which added $5 million in new capital to our
balance sheet. BIONIK now has a stronger financial foundation,
with $4.8 million in cash and no long term debt."
"For the quarter, our revenue decrease resulted from product and
distributor sales mixes despite shipping one additional unit from
the same period last year, and the gross margin was impacted as
well. Operating expenses were 33% lower, including a more
normalized sales and marketing effort. Looking ahead, sales are
expected to benefit from our strengthening pipeline while we work
to expand our international footprint. We're leveraging our
increased investment in sales and marketing and expect expanding
awareness of our robotics-based mobility products and monitoring
solutions. Supported by a strong balance sheet, we believe that
BIONIK is well positioned for future growth," concluded Mr. Russo.
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1508381/000110465921136632/bnkl-20210930x10q.htm
About BIONIK Laboratories
BIONIK Laboratories -- http://www.BIONIKlabs.com-- is a robotics
company focused on providing rehabilitation and mobility solutions
to individuals with neurological and mobility challenges from
hospital to home. The Company has a portfolio of products focused
on upper and lower extremity rehabilitation for stroke and other
mobility-impaired patients, including three products on the market
and three products in varying stages of development.
Bionik Laboratories reported a net loss and comprehensive loss of
$13.62 million for the year ended March 31, 2021, compared to a net
loss and comprehensive loss of $25.02 million for the year ended
March 31, 2020. As of March 31, 2021, the Company had $8.79
million in total assets, $5.51 million in total liabilities, and
$3.28 million in total stockholders' equity. As of June 30, 2021,
the Company had $8.68 million in total assets, $5.76 million in
total liabilities, and $2.92 million in total stockholders'
equity.
Toronto, Canada-based MNP LLP, the Company's auditor since 2015,
issued a "going concern" qualification in its report dated June 24,
2021, citing that he Company has experienced losses and has a
working capital deficiency and an accumulated deficit. These
conditions, along with other matters, raise substantial doubt about
Company's ability to continue as a going concern.
BLINK CHARGING: Incurs $15.3 Million Net Loss in Third Quarter
--------------------------------------------------------------
Blink Charging Co. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $15.32 million on $6.40 million of total revenues for the three
months ended Sept. 30, 2021, compared to a net loss of $3.91
million on $906,000 of total revenues for the three months ended
Sept. 30, 2020.
For the nine months ended Sept. 30, 2021, the Company reported a
net loss of $36.15 million on $12.99 million of total revenues
compared to a net loss of $9.91 million on $3.78 million of total
revenues for the same period during the prior year.
As of Sept. 30, 2021, the Company had $238.77 million in total
assets, $14.41 million in total liabilities, and $224.37 million in
total stockholders' equity.
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1429764/000149315221028189/form10-q.htm
About Blink Charging
Based in Miami Beach, Florida, Blink Charging Co. (OTC: CCGID)
f/k/a Car Charging Group Inc. -- http://www.CarCharging.com-- is
an owner and operator of electric vehicle charging stations in the
United States and a growing presence in Europe, Asia, Israel, the
Caribbean, and South America. The Blink Network utilizes
proprietary cloud-based software that operates, maintains, and
tracks the EV charging stations connected to the network, along
with the associated charging data. The Company has established key
strategic partnerships to roll out adoption across numerous
location types, including parking facilities, multifamily
residences and condos, workplace locations, health care/medical
facilities, schools and universities, airports, auto dealers,
hotels, mixed-use municipal locations, parks and recreation areas,
religious institutions, restaurants, retailers, stadiums,
supermarkets, and transportation hubs.
Blink Charging reported a net loss of $17.85 million for the year
ended Dec. 31, 2020, compared to a net loss of $9.65 million for
the year ended Dec. 31, 2019. As of June 30, 2021, the Company had
$246.62 million in total assets, $12.61 million in total
liabilities, and $234 million in total stockholders' equity.
BLUEAVOCADO: Seeks Cash Collateral Access, $400,000 DIP Loan
------------------------------------------------------------
BlueAvocado, Co. asks the U.S. Bankruptcy Court for the Western
District of Texas, San Antonio Division, for authority to, among
other things, use cash collateral and obtain postpetition financing
in an aggregate principal amount of up to $400,000, with $50,000
available on an interim basis.
The Debtor negotiated with BLUEAVO RLOCL, LLC regarding DIP
financing, including the proposed interim order and a draft DIP
Financing Agreement. The Debtor says the proposed DIP Term Loan
provides it and its estate the most favorable financing under the
circumstances confronting the Debtor. The Debtor says its decision
to enter into the DIP Term Loan was the result of an intensive
effort by the Debtor and its professionals to obtain the best terms
available. Indeed, in providing committed, new money in the
aggregate amount of up to $400,000, the DIP Term Loan will provide
the Debtor with the liquidity it needs to finance continued
operations and successfully restructure its financial affairs.
The Debtor was initially capitalized through a series of securities
offerings. In addition, several insiders loaned money to the
Debtor on both a secured and unsecured basis.
In 2019 Lee Valkenaar, Jack Long, Roxann Chargois, Jarred Maxwell,
and Aqushen, LLC, each individually and as shareholder
representatives of BlueAvocado sued Edward Roels, a former board
chair of BlueAvocado and CFO of M. Block & Sons; Bruce Barshop,
shareholder and current director of BlueAvocado; Jim Pabst, former
CEO of BlueAvocado; and Julie Mak, the current CEO. The Plaintiffs
alleged that the Defendants breached their fiduciary duties because
of alleged interested transactions, misuse of company funds, and
dereliction of duty to shareholders.
The Debtor formed a Special Litigation Committee comprised of
independent, disinterested directors to investigate the claims. The
SLC hired the Locke, Lord, LLP law firm to conduct to assist in the
investigation and together they reviewed over 1.5 million documents
and interviewed 12 witnesses. The SLC determined in good faith that
continuation of the Litigation was not in the best interests of the
Debtor.
The Litigation has been dismissed as to Defendants Barshop, Pabst
and Mak and the Plaintiffs were ordered to pay $275,000 in
attorneys' fees and sanctions to those Defendants. The Litigation
continues as to Defendants Roels. In spite of the ruling for the
Defendants, Plaintiffs continue to pursue legal actions which drain
cash and distracts from the operation and expansion of the Debtor's
business. The Debtor is seeking dismissal of the Litigation and has
scheduled a hearing date on the request.
The Litigation has diverted financial and management resources from
growing the business to defending the Litigation and paying
burgeoning legal expenses, the Debtor says. The years of litigation
have come at an enormous opportunity cost to the Debtor's business.
Now that the Debtor's involvement in the Litigation has
substantially subsided, the Debtor is positioned to resume its
efforts to expand its market and grow its business. The bankruptcy
filing is necessary to access capital needed to pursue those
efforts.
In September 2017, Block Ventures, LLC as lender and M. Block &
Sons, Inc. as agent entered into a secured promissory note with the
Debtor in the original principal amount of $160,000 secured by a
lien upon all of the Debtor's inventory, books, records and
proceeds thereof.
Block filed a UCC-1 financing statement with the Texas Secretary of
State on September 15, 2017. The Block Note was amended on numerous
occasions, including the Seventh Amended and Restated Secured Note
which increased the available loan balance to $360,000.
On March 23, 2018, Block Ventures, LLC and S. Barshop Investments,
Ltd. as lenders and M. Block & Sons, Inc. as agent entered into a
Subordinated Promissory Note in the original principal amount of
$100,000. The parties executed a second Subordinated Note on May
11, 2018, also in the amount of $100,000. The Subordinated Notes
were extended by written agreements on several occasions and were
also secured by the security interest granted to M. Block & Sons,
Inc. as agent on the Block Note.
On February 11, 2021, BLUEAVO RLOCL, LLC and the Debtor entered
into a Convertible Promissory Note in the original principal amount
of $340,000. The BLUEAVO Note was secured pursuant to a Security
Agreement of even date on all of the Debtor's assets. BLUEAVO filed
a UCC-1 financing statement with the Texas Secretary of State on
February 15, 2021. The BLUEAVO Note was amended on several
occasions, including on July 31, 2021, to increase the maximum
principal amount to $610,000.
On October 15, 2021, Block and BLUEAVO entered into a Stock and
Note Purchase Agreement. Under that Agreement BLUEAVO acquired the
Block Note, the Subordinated Notes, all liens securing those notes,
accounts receivable owed by the Debtor to Block, together with all
common and preferred stock in the Debtor owned by Block.
As of the Petition Date, BLUEAVO held notes with an outstanding
balance totaling not less than $1,053,750, secured by substantially
all of the property of the estate.
All DIP Obligations will become due and payable on the Maturity
Date. The "Maturity Date" will be the earlier of (a) January 31,
2022; (b) the effective date of a chapter 11 plan with respect to
Borrower; (c) conversion of Borrower's chapter 11 case to one under
chapter 7 or to one other than a case under subchapter V; (d) the
sale of all or substantially all the Borrower's assets; (e)
December 15, 2021, if no final order approving the DIP Term Loan
has been entered by that date, in which case DIP Lender will have
no further obligations hereunder; or (f) the occurrence of an Event
of Default.
These events constitute an "Events of Default:"
(a) The failure to make any payment of principal of, or
interest on, or fees owing in respect of the Loan;
(b) Any representation or warranty made or deemed to be made
by or on behalf of the Borrower in connection with the DIP Term
Loan or any amendment or modification of any document executed in
connection with the DIP Term Loan will be materially false when
made;
(c) Any disbursement by the Borrower not authorized in the
Approved Budget unless DIP Lender has agreed to such disbursement
in writing in each instance, provided, however, that the Borrower
may make payments in excess of the total budgeted disbursements so
long as the Variance Percent of the aggregate of all actual
disbursements for each week will not exceed five percent of the
budgeted disbursements for that week; or
(d) The failure of the Bankruptcy Court to enter a final order
approving the DIP Term Loan on or before December 15, 2021.
The Debtor asserts that BLUEAVO's interests are adequately
protected for purposes of section 363(e) of the Bankruptcy Code for
the following reasons:
(a) BLUEAVO consents to the Debtor's use of cash collateral on
the terms of the DIP Term Loan and proposed DIP Orders, and
(b) The Debtor intends to preserve value of the BLUEAVO's
collateral by using the cash collateral to maintain the Debtor's
operations and continue as a going concern.
The Debtor believes the protections are adequate under the
circumstances. Further, given the significant value that the
Debtor stands to lose in the event it is denied access to continued
use of cash collateral, the protections are wholly appropriate and
justified.
A copy of the motion is available at https://bit.ly/3c5QvLl from
PacerMonitor.com.
About BlueAvocado Co.
BlueAvocado Co. manufactures and distributes reusable grocery bags.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. Tex. Case No. 21-51384) on November
10, 2021. In the petition signed by Julie Mak, CEO & president, the
Debtor disclosed $1,499,370 in assets and $2,243,028 in
liabilities.
Judge Craig A. Gargotta oversees the case.
Raymond Battaglia, Esq. at the Law Offices of Ray Battaglia, PLLC
is the Debtor's counsel.
BOSTON ROAD: Seeks to Hire Genderversity as Financial Advisor
-------------------------------------------------------------
Boston Road Service & Charter Corp. seeks approval from the U.S.
Bankruptcy Court for the District of Massachusetts to hire C. Jill
Beresford and her firm Genderversity as its financial advisor.
The firm's services include assisting the Debtor in preparing its
monthly operating reports, reconciling and maintaining its
QuickBooks records, and facilitating in the formulation of its plan
of reorganization through the development of budget projections.
Ms. Beresford's regular hourly rate is $200. Her firm holds a
$5,000 retainer.
Ms. Beresford disclosed in a court filing that her firm is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.
The firm can be reached through:
C. Jill Beresford
Genderversity
169 Bulrush Farm Rd
Scituate, MA 02066
Phone: 781-534-3534
Email: jill@genderversity.com
About Boston Road Service
Taunton, Mass.-based Boston Road Service & Charter Corp. filed a
petition for Chapter 11 protection (Bankr. D. Mass. Case No.
21-11491) on Oct. 14, 2021, listing up to $1 million in assets and
up to $10 million in liabilities. Gilmaris Ocasio, president,
signed the petition. Judge Frank J. Bailey oversees the case. The
Debtor tapped David B. Madoff, Esq., at Madoff & Khoury, LLP as
legal counsel.
BROOKLYN IMMUNOTHERAPEUTICS: Incurs $86.1M Net Loss in 3rd Quarter
------------------------------------------------------------------
Brooklyn ImmunoTherapeutics, Inc. filed with the Securities and
Exchange Commission its Quarterly Report on Form 10-Q disclosing a
net loss of $86.06 million for the three months ended Sept. 30,
2021, compared to a net loss of $2.02 million for the three months
ended Sept. 30, 2020.
For the nine months ended Sept. 30, 2021, the Company reported a
net loss of $113.84 million compared to a net loss of $5.07 million
for the nine months ended Sept. 30, 2020.
As of Sept. 30, 2021, the Company had $39.39 million in total
assets, $26.35 million in total liabilities, and $13.04 million in
total stockholders' equity.
The Company has incurred significant operating losses and has an
accumulated deficit as a result of ongoing efforts to develop
product candidates, including conducting clinical trials and
providing general and administrative support for these operations.
As of Sept. 30, 2021, the Company had a cash balance of $24,381,831
and an accumulated deficit of $151,231,510 (inclusive of
$80,537,551 IPR&D expense related to the Acquisition, $9,648,173
related to the loss on sale of assets in the Disposition and
$750,000 related to the change in fair value of contingent
consideration). During the three and nine months ended Sept. 30,
2021, the Company incurred a net loss of $86,055,312 and
$113,842,963, respectively, and during the nine months ended Sept.
30, 2021, the Company used cash in operating activities of
$16,657,634.
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/748592/000114036121037674/brhc10030504_10q.htm
About Brooklyn ImmunoTherapeutics
Brooklyn ImmunoTherapeutics (formerly NTN Buzztime, Inc.) is
biopharmaceutical company focused on exploring the role that
cytokine, gene editing, and cell therapy can have in treating
patients with cancer, blood disorders, and monogenic diseases.
NTN Buzztime reported a net loss of $4.41 million for the year
ended Dec. 31, 2020, compared to a net loss of $2.05 million for
the year ended Dec. 31, 2019. As of June 30, 2021, the Company had
$64.71 million in total assets, $29.53 million in total
liabilities, and $35.18 million in total stockholders' and members'
equity.
San Diego, California-based Baker Tilly US, LLP, the Company's
auditor since 2013, issued a "going concern" qualification in its
report dated March 11, 2021, citing that the Company incurred a
significant net loss for the year ended Dec. 31, 2020 and as of
Dec. 31, 2020 had a negative working capital balance, and does not
expect to have sufficient cash or working capital resources to fund
operations for the twelve-month period subsequent to the issuance
date of these financial statements. These factors raise
substantial doubt about the Company's ability to continue as a
going concern.
CARLSON TRAVEL: Gets Quick Court Approval of Chapter 11 Path
------------------------------------------------------------
J. Edward Moreno of Law360 reports that Carlson Travel won approval
of its bankruptcy plan timeline Friday, Nov. 12, 2021, just a day
after filing for Chapter 11 reorganization in Houston, with the
pandemic-battered business travel company seeking to wipe out about
half its roughly $1.6 billion in debt.
U.S. Bankruptcy Judge Marvin Isgur approved the proposed quick
turnaround on the bankruptcy plan on Friday, saying that it was
necessary to "avoid immediate and irreparable harm" to the debtors
and creditors. Judge Isgur's order said a final hearing on the
plan will take place on Dec. 6, 2021, but it also said that it was
"possible that no final hearing will be required.
About Carlson Travel
Headquartered in Minneapolis, Minnesota, Carlson Travel Inc., known
as CWT, is a Business-to-Business-for-Employees (B2B4E) travel
management platform. CWT manages business travel, meetings,
incentives, conferencing, exhibitions, and handles event management
across six continents. Pre-pandemic, the Company handled 100
meetings and events and talked to almost 60,000 travelers DAILY.
The Company reported total transaction volume US$24.8 billion in
2019.
Carlson Travel Inc. and 37 affiliates, including Carlson Travel
Holdings, Inc., sought Chapter 11 protection (Bankr. S.D. Tex. Lead
Case No. 21-90017) on Nov. 11, 2021. The case is handled by
Honorable Judge Marvin Igur. In its petition, CWT listed assets
and liabilities of as much as $1 billion each.
Kirkland & Ellis LLP is serving as legal adviser, Houlihan Lokey is
serving as financial adviser, AlixPartners LLP is serving as
restructuring adviser and Shearman & Sterling LLP is serving as
corporate finance counsel to CWT in connection with the
recapitalization process.
Stroock & Stroock & Lavan LLP and Paul, Weiss, Rifkind, Wharton &
Garrison LLP are serving as legal advisors and Rothschild & Co. and
Evercore are serving as financial advisors to groups of CWT's
noteholders.
CARLSON TRAVEL: Unsec. Creditors be Paid in Full or be Reinstated
-----------------------------------------------------------------
Carlson Travel, Inc. and its Debtor Affiliates filed with the U.S.
Bankruptcy Court for the Southern District of Texas a Disclosure
Statement relating to the Joint Prepackaged Plan of
Reorganization.
The Debtors (together with their non-debtor subsidiaries, "CWT" or
the "Company") commence these Chapter 11 Cases with the support of
holders of 100 percent of Revolving Credit Facility Claims, holders
of approximately 95 percent of New Money Notes Claims, holders of
approximately 90 percent of New Senior Secured Notes Claims,
holders of approximately 86 percent of Third Lien Notes Claims, and
certain affiliates of CWT, and their equity owners, and commitments
for a $350 million in equity capital (including through a fully
backstopped equity rights offering) and $775 million of exit
facilities.
The equity infusion and exit facilities, combined with the
repayment or equitization of substantially all outstanding debt
obligations pursuant to the Restructuring Support Agreement
executed by the Debtors and the Consenting Stakeholders, will
eliminate approximately half of CWT's existing $1.5 billion in
debt. This remarkable level of support and investment, achieved in
the midst of a sustained global downturn in the travel industry
caused by the COVID-19 pandemic, will position the Debtors for
long-term success.
CWT entered into a restructuring support agreement with the
Crossover Groups, Carlson, and the Parents on September 10, 2021,
and an amended and restated restructuring support agreement (the
"Restructuring Support Agreement"), with the Crossover Groups,
Carlson, the Parents and the RCF Lenders on September 22, 2021. To
fund operations through negotiation of definitive Plan documents
and consummation of the restructuring transactions, certain members
of the Crossover Groups consented to an additional $80 million
bridge financing, which closed on September 22, 2021.
The Restructuring Support Agreement contemplates a plan of
reorganization that will eliminate approximately half of CWT's
existing $1.5 billion in debt, and provide $350 million of new
equity capital. Specifically, the Restructuring Support Agreement
and the Plan provide for, among other things:
* payment in full of the Revolving Credit Facility and New
Money Notes;
* partial equitization of the New Senior Secured Notes, rights
to participate in a new money equity rights offering and, if
applicable, the funding of exit first lien notes, and the receipt
of either a $125 million cash pay down or the issuance of a similar
amount of exit first lien notes;
* release and extinguishment of the Third Lien Notes in
consideration for the New Warrants;
* release and extinguishment of the Subordinated Notes in
consideration for $250,000 in cash if the class votes to accept the
Plan;
* cancellation of existing equity;
* payment in full of general unsecured claims;
* $625 million Exit Debt;
* a $150 Exit Financing Facility; and
* an approximately $191 million equity rights offering
backstopped by the certain members of the Crossover Groups.
CWT believes that the Restructuring Support Agreement and the Plan
are the result of comprehensive prepetition negotiations with its
stakeholders, represents the best and only actionable restructuring
transaction available, will significantly delever CWT's balance
sheet, and will provide CWT with sufficient liquidity to operate
its industry-leading business as the travel industry recovers.
Class 8 consists of General Unsecured Claims in the amount of
$429.5 million. Each Holder of an Allowed General Unsecured Claim
shall receive, at the Debtors' option, subject to the consent of
the Required Consenting Stakeholders, either: (i) Reinstatement of
such Allowed General Unsecured Claim; or (ii) payment in full in
Cash on (a) the Effective Date, or (b) the date due in the ordinary
course of business in accordance with the terms and conditions of
the particular transaction giving rise to such Allowed General
Unsecured Claim, unless otherwise agreed to by such Holder. This
Class will receive a distribution of 100% of their allowed claims.
The Debtors and the Reorganized Debtors, as applicable, shall fund
distributions under the Plan with: (1) the Exit Facilities; (2)
Cash proceeds from the sale of New Common Stock pursuant to the
Equity Rights Offering; (3) cash proceeds from the Direct
Allocation; (4) the New Common Stock; (5) the New Warrants; and (6)
Cash on hand.
A full-text copy of the Disclosure Statement dated Nov. 11, 2021,
is available at https://bit.ly/3olS8Kq from PacerMonitor.com at no
charge.
Proposed Co-Counsel to the Debtors:
Allyson B. Smith, Esq.
KIRKLAND & ELLIS LLP (NEW YORK)
601 Lexington Aevnue
New York, NY 10022
Tel: (212) 446-4800
Fax: (212) 446-4900
Email: allyson.smith@kirkland.com
- and -
Ryan Blaine Bennett, P.C.
Alexandra Schwarzman, Esq.
KIKRLAND & ELLIS LLP (CHICAGO)
300 North LaSalle
Chicago, IL 60654
Tel: (312) 862-2000
Fax: (312) 862-2200
Email: ryan.bennett@kirkland.com
alexandra.schwarzman@kirkland.com
Matthew D. Cavenaugh, Esq.
Vienna F. Anaya, Esq.
Victoria N. Argeroplos, Esq.
JACKSON WALKER LLP
1401 McKinney Street
Suite 1900
Houston, TX 77010
Email: mcavenaugh@jw.com
vanaya@jw.com
vargeroplos@jw.com
About Carlson Travel
Carlson Travel operates as a business travel management company.
The Company offers traveler care, travel management, consulting,
and booking services, as well as conducts meetings and events.
Carlson Travel and Its Debtor Affiliates filed Chapter 11 Petition
(S.D. Tex. Lead Case No. 21-90017) on November 11, 2021. Hon.
Marvin Isgur oversees the case. Allyson B. Smith, Esq. of KIRKLAND
& ELLIS LLP (NEW YORK) and Ryan Blaine Bennett, P.C. and Alexandra
Schwarzman, Esq. of KIKRLAND & ELLIS LLP (CHICAGO) are the Debtors'
General Bankruptcy Counsel.
In the petition signed by ichelle McKinney Frymire, president and
chief executive officer, the Debtors disclosed $1 billion to $10
billion in assets and $1 billion to $10 billion in liabilities.
CLEARPOINT NEURO: Incurs $4 Million Net Loss in Third Quarter
-------------------------------------------------------------
ClearPoint Neuro, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $3.98 million on $4.57 million of total revenues for the three
months ended Sept. 30, 2021, compared to a net loss of $1.48
million on $3.52 million of total revenues for the three months
ended Sept. 30, 2020.
For the nine months ended Sept. 30, 2021, the Company reported a
net loss of $10.26 million on $12.02 million of total revenues
compared to a net loss of $5.20 million on $9.11 million of total
revenues for the nine months ended Sept. 30, 2020.
As of Sept. 30, 2021, the Company had $68.70 million in total
assets, $24.58 million in total liabilities, and $44.12 million in
total stockholders' equity.
At Sept. 30, 2021, the Company had cash and cash equivalents
totaling $57.7 million as compared to $20.1 million at Dec. 31,
2020, with the increase resulting primarily from the completion of
a public offering of the Company's common stock in February 2021.
"The ClearPoint Neuro Team continued to execute against our
four-pillar growth strategy in the third quarter and celebrated a
number of successes along the way," commented Joe Burnett,
president and CEO. "First, we achieved record revenue in both
Functional Neurosurgery Navigation and Biologics & Drug Delivery,
yielding total revenue of $4.6 M which represents year-over-year
growth of 30% growth. These results are in spite of the
postponement of numerous elective procedures due to the rise of the
Delta Variant which adversely impacted case volume in August and
September. The majority of our impacted centers have again
scheduled cases starting in October. Our Biologics and Drug
Delivery Team, driven by the expansion of pre-clinical services and
placements in Europe have added additional pharma partners to our
'active' list, bringing the total number of active relationships to
approximately 40. We have started development of our navigation
system for Brain Computer Interface placements, leveraging the
ClearPoint platform and expect to have functional prototypes for
pre-clinical testing in the second half of 2022. We also made
progress across all of our previously announced development
programs, with timeline estimates remaining intact. Very
importantly, we utilized a portion of the capital we raised last
February to invest in innovation and expand our market presence by
hiring 18 talented engineers, programmers, researchers, and
clinical specialists. Our ability to attract talent I believe
demonstrates the excitement our team generates, and the recognition
of the important work that we are doing."
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1285550/000117152021000523/eps9888.htm
About ClearPoint Neuro
ClearPoint Neuro formerly MRI Interventions, Inc. --
http://www.clearpointneuro.com-- is a medical device company that
develops and commercializes innovative platforms for performing
minimally invasive surgical procedures in the brain under direct,
intra-procedural magnetic resonance imaging, or MRI, guidance.
Applications of the Company's current product portfolio include
deep-brain stimulation, laser ablation, biopsy, neuro-aspiration,
and delivery of drugs, biologics, and gene therapy to the brain.
Clearpoint Neuro reported a net loss of $6.78 million for the year
ended Dec. 31, 2020, compared to a net loss of $5.54 million for
the year ended Dec. 31, 2019. As of June 30, 2021, the Company had
$72.33 million in total assets, $24.36 million in total
liabilities, and $47.97 million in total stockholders' equity.
CMC II LLC: Unsec. Creditors to Recover 0.07% in Liquidating Plan
-----------------------------------------------------------------
CMC II, LLC, and its Debtor Affiliates filed with the U.S.
Bankruptcy Court for the District of Delaware a First Amended
Combined Disclosure Statement and Chapter 11 Plan of Liquidation
dated Nov. 11, 2021.
The Debtors propose the Combined Plan and Disclosure Statement
pursuant to Sections 105, 1125, and 1129 of the Bankruptcy Code for
the disposition of the Debtors' remaining Assets and distribution
of the proceeds of the Assets to the Holders of Allowed Claims
against the Debtors. The Official Committee of Unsecured Creditors
(the "Committee") supports confirmation of the Combined Plan and
Disclosure Statement and urges all creditors to vote to accept the
Combined Plan and Disclosure Statement.
The Combined Plan and Disclosure Statement reflects a complex
settlement reached after months of negotiations between and among
the Debtors, the United States of America, CPSTN Operations, LLC
and its affiliates, the Committee, and the Relator. The settlement,
which is set forth in two related settlement agreements and an
asset purchase agreement, was approved by orders entered by the
Bankruptcy Court on October 6, 2021 (collectively, the "CPSTN
Settlement Agreements"). Pursuant to the CPSTN Settlement
Agreements, CPSTN or its designee shall acquire substantially all
of the Debtors' assets in exchange for the CPSTN Settlement
Consideration. The CPSTN Settlement Consideration includes, among
other things,
* the credit bid of all outstanding amounts owed by the
Debtors under the CPSTN DIP Loan ($5 million),
* additional estate funding payments by CPSTN of $500,000,
* the assumption of substantially all the Debtors' trade debt
relationships, obligations, and Executory Contracts and Leases,
including the assumption and payment of cure claims thereunder,
other than those specified in the schedules to the CPSTN Settlement
Agreements, as may be amended in accordance with the terms
thereof,
* the assumption of substantially all liability arising from
personal injury, wrongful death, or other tort liability claims
against the Debtors, other than those specified in the schedules to
the CPSTN Settlement Agreements, as may be amended in accordance
with the terms thereof,
* additional direct payments over time by CPSTN to the United
States of America and to the Relator, with such payments subject to
certain guarantees by CPSTN corporate affiliates,
* additional direct contingent payments to the United States
and the Relator following the achievement of certain resident
census levels, and other contingent payments, and
* the payment of certain additional amounts over time on
account of certain professional fees.
The Combined Plan and Disclosure Statement is a liquidating chapter
11 plan predicated upon the CPSTN Settlement Agreements. The
Combined Plan and Disclosure Statement provides that the Effective
Date shall occur on or shortly after the closing of the
transactions provided for under the CPSTN Settlement Agreements.
After the Effective Date, after completing all remaining ordinary
course business operations, fiduciary obligations, and the
administration of this Combined Plan and Disclosure Statement, the
Debtors will be dissolved.
The Plan will treat claims as follows:
* Class 4.1 consists of the FCA Claim with $258 million claim
amount and a recovery of 1.31%. Except to the extent that the
Holder of the FCA Claim has agreed to a less favorable treatment,
the Holder of the FCA Claim shall receive 73% of the Remaining DIP
Funds and Estate Funding, as full and complete satisfaction of such
Claim against the Debtors, without any offset or recoupment or
prejudice to the amounts payable under the CPSTN Settlement
Agreements from non-Debtor parties. The amount of the FCA Claim
against each FCA Debtor is the amount of the FCA Judgment against
each FCA Debtor. Class 4.1 is Impaired.
* Class 4.2 consists of the Relator Expense Claim with $24
million claim amount and a recovery of 4.7%. Except to the extent
that the Holder of the Relator Expense Claim has agreed to a less
favorable treatment of such Claim, the Holder of the Relator
Expense Claim shall receive 24% of the Remaining DIP Funds and
Estate Funding, as full and complete satisfaction of such Claim
against the Debtors, without any offset or recoupment or prejudice
to the amounts payable under the CPSTN Settlement Agreements from
non-Debtor parties. Class 4.2 is Impaired.
* Class 4.3 consists of General Unsecured Claims with $94
million claim amount and a recovery of 0.07%. Each Holder of an
Allowed General Unsecured Claim shall receive such Holder's Pro
Rata Share of (i) 3% of the Remaining DIP Funds and Estate Funding,
and (ii) the Other Unsecured Annual Payment Fund. The Debtors
expect that there will be a single Distribution to Holders of
Allowed Claims in Class 4.3 approximately 3 years after the
Effective Date after CPSTN has completed the funding of the Other
Unsecured Annual Payment Fund. Class 4.3 is Impaired.
* Class 5 consists of Equity Claims and Interests. Holders of
Claims in Class 5 are impaired under the Combined Plan and
Disclosure Statement. Holders of Equity Interests will retain no
ownership interests or distribution under the Combined Plan and
Disclosure Statement and, on the Effective Date, shall be deemed
cancelled, null, and void. Therefore, Holders of Equity Interests
are deemed to reject the Combined Plan and Disclosure Statement.
The CPSTN Settlement Agreements provide that, among other
transactions, CPSTN or its designee shall acquire substantially all
of the Debtors' assets, including the Marshall and Governor's Creek
skilled nursing facilities, CMC II and all Estate Claims and Causes
of Action, shall assume certain contracts as well as other trade
and tort liabilities, and shall make certain payments to the
Debtors or creditors.
A full-text copy of the First Amended Combined Plan and Disclosure
Statement dated Nov. 11, 2021, is available at
https://bit.ly/3CdaVfJ from Stretto, the claims agent.
Counsel for the Debtors:
CHIPMAN BROWN CICERO & COLE, LLP
William E. Chipman, Jr.
Robert A. Weber
Mark D. Olivere
Hercules Plaza
1313 North Market Street, Suite 5400
Wilmington, Delaware 19801
Telephone: (302) 295-0191
Facsimile: (302) 295-0199
E-mail: chipman@chipmanbrown.com
weber@chipmanbrown.com
olivere@chipmanbrown.com
About CMC II LLC
CMC II, LLC, 207 Marshall Drive Operations LLC, 803 Oak Street
Operations LLC and three inactive affiliates sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 21-10461) on March 1,
2021.
CMC II, LLC, et al., are part of a group of Consulate Health care
corporate affiliates that manage and operate 140 skilled nursing
facilities. CMC II provides management and support services to
approximately 140 SNFs, each of which is operated by an affiliate
of the Debtors under the common ownership of non-Debtor LaVie Care
Centers, LLC, doing business as Consulate Health Care. 207
Marshall Drive Operations LLC operates Marshall Health and
Rehabilitation Center, a 120-bed SNF located in Perry, Florida. 803
Oak Street Operations LLC operates Governor's Creek Health and
Rehabilitation, a 120-bed SNF located in Green Cove Springs, Fla.
CMC II estimated assets and debt of $100 million to $500 million as
of the bankruptcy filing.
The Hon. John T. Dorsey is the case judge.
The Debtors tapped Chipman Brown Cicero & Cole, LLP, as counsel;
Alvarez & Marsal North America, LLC as restructuring advisor; and
Evans Senior Investments as broker. Stretto is the claims agent.
COLORADO HOMES: Seeks to Hire Bonnie Bell Bond as Legal Counsel
---------------------------------------------------------------
Colorado Homes, LLC seeks approval from the U.S. Bankruptcy Court
for the District of Colorado to employ the Law Office of Bonnie
Bell Bond, LLC to serve as legal counsel in its Chapter 11 case.
The firm's services include:
a. providing the Debtor with legal advice with respect to its
rights and duties under Chapter 11;
b. assisting the Debtor in the development of a plan of
reorganization or sale of its property;
c. preparing and filing legal papers, reports and actions,
which may become necessary;
d. representing the Debtor in any litigation, which it
determine is in the best interest of the estate;
e. performing other necessary legal services.
Legal services performed by the firm's attorneys will be billed at
the hourly rate of $350. Paralegal services will be billed at the
rate of $125 per hour.
The firm received a retainer in the amount of $11,738.
As disclosed in court filings, Bonnie Bell Bond does not represent
interests adverse to the Debtor's estate.
The firm can be reached through:
Bonnie Bell Bond, Esq.
Law Office of Bonnie Bell Bond, LLC
8400 E Prentice Ave Ste 1040
Greenwood Village, CO 80111-2922
Tel: (303) 770-0926
Email: bonnie@bellbondlaw.com
About Colorado Homes LLC
Colorado Homes, LLC, a company based in Centennial, Colo., filed
its voluntary petition for Chapter 11 protection (Bankr. D. Colo.
Case No. 21-15521) on Nov. 2, 2021, listing up to $10 million in
assets and up to $50 million in liabilities. Ranko Mocevic, member
and manager, signed the petition.
Judge Kimberley H. Tyson presides over the case.
Bonnie Bell Bond, Esq., at the Law Office of Bonnie Bell Bond, LLC
serves as the Debtor's legal counsel.
CONCORD INC: Wins Cash Collateral Access
----------------------------------------
The U.S. Bankruptcy Court for the Northern District of Georgia,
Atlanta Division ,has authorized Concord Inc. to use $70,000 of the
Sales Proceeds as cash collateral on a final basis while the Debtor
markets and sells its business as a going concern.
On May 18, 2021, the Court entered a final order on the Debtor's
allowed use of cash collateral. On August 31, 2021, the Court
entered an order authorizing the sale of certain assets free and
clear of all liens. As authorized by the Sale Order, the Debtor
sold one of its locations for $190,000. The Sales Proceeds are
currently being held in the Debtor's counsel's IOLTA account
pending further Court order. The Debtor requested the Court to
enter a further order authorizing it to use the Sales Proceeds to
pay necessary operating costs while it markets its remaining assets
for an eventual sale. First Horizon Bank, McKesson Corporation, and
the U.S. Small Business Administration assert liens against the
Debtor's Sales Proceeds as cash collateral as defined in the
Bankruptcy
Code.
The Final Cash Collateral Order permits the Debtor's counsel to
disburse the Cash Collateral to the Debtor, and the Debtor is
authorized to use the Cash Collateral in accordance with terms and
conditions as provided in the Final Order.
A copy of the order is available for free at https://bit.ly/31P2knd
from PacerMonitor.com.
About Concord Inc.
Founded in Philadelphia in 1983, Concord, Inc. provides and manages
driver qualification files, substance abuse programs, physical
examinations, regulatory compliance consulting, occupational health
and safety services, policy development and consulting, and
employee background screening services.
Concord filed its voluntary petition for relief under Chapter 11 of
the Bankruptcy Code (Bankr. N.D. Ga. Case No. 21-52482) on March
26, 2021. At the time of the filing, the Debtor disclosed $1
million to $10 million in both assets and liabilities.
Judge Paul Baisier oversees the case.
The Debtor tapped Will B. Geer, Esq., at Wiggam & Geer, LLC as
legal counsel and CliftonLarsonAllen, LLP as accountant.
First Horizon Bank, as Lender, is represented by Baker, Donelson,
Bearman, Caldwell and Berkowitz, P.C.
CONNACHT CORPORATION: Case Summary & 12 Unsecured Creditors
-----------------------------------------------------------
Debtor: Connacht Corporation
d/b/a Colorize of Pittsburgh
129 Walcott Drive
Gibsonia, PA 15044
Business Description: The Debtor owns and operates a paint and
decorating store that services the
Pittsburgh, PA market.
Chapter 11 Petition Date: November 14, 2021
Court: United States Bankruptcy Court
Western District of Pennsylvania
Case No.: 21-22467
Judge: Hon. Thomas P. Agresti
Debtor's Counsel: Brian C. Thompson, Esq.
THOMPSON LAW GROUP, P.C.
125 Warrendale-Bayne Road
Suite 200
Warrendale, PA 15086
Tel: 724-799-8404
Fax: 724-799-8409
E-mail: bthompson@thompsonattorney.com
Estimated Assets: $500,000 to $1 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Regis Flaherty as president.
A full-text copy of the petition containing, among other items, a
list of the Debtor's 12 unsecured creditors is available for free
at PacerMonitor.com at:
https://www.pacermonitor.com/view/HWH2QWQ/Connacht_Corporation_dba_Colorize__pawbke-21-22467__0001.0.pdf?mcid=tGE4TAMA
COTY INC: S&P Raises ICR to 'B' on Debt Reduction, Outlook Stable
-----------------------------------------------------------------
S&P Global Ratings raised its issuer credit rating to 'B' from 'B-'
on Coty Inc. Concurrent with this upgrade, S&P raised the
issue-level rating on the company's senior secured debt to 'B+'
from 'B' and the issue-level rating on its senior unsecured debt to
'B' from 'B-'. The recovery rating on the senior secured debt and
the senior unsecured debt are '2' and '3', respectively.
The stable outlook reflects S&P's expectation that the company will
continue growing sales in the low-to-mid-teens percentage range and
earnings by more than 10% while sustaining leverage below 6x,
utilizing cash proceeds from proposed future transactions for debt
reduction in fiscal 2022.
The upgrade reflects improved credit metrics from debt reduction
following capital structure changes and S&P's expectation for
higher EBITDA due to strong revenue growth and as the company
reduces its restructuring spend. Coty's prestige segment had
substantial growth during the past few quarters, especially the
most recent quarter ended Sept. 30, 2021. Total revenues grew 35%
in the segment, driven by strong performance across fragrances and
cosmetics helped by successful product launches across key brands
and the relaunch of the Kylie brand. For the 12 months ended Sept.
30, 2021, leverage improved to 7.2x on a pro forma basis from 11x
for the prior quarter, fiscal year ended June 30, 2021. The
sequential profitability improvement largely reflected favorable
product and channel mix, higher pricing, a recovery in travel
retail, better demand planning leading to lower excess and obsolete
inventory and benefits from cost-savings initiatives that we expect
to continue until fiscal 2023. The company continued to lower its
cost base realizing incremental savings of about $60 million in the
first quarter of fiscal 2022. Coty has significantly reduced its
stock-keeping units (SKU) count and packaging formats, streamlined
its brand portfolio, closed manufacturing facilities, reduced
headcount, and repurposed its marketing investments over the recent
quarters. The company also incurred significantly lower one-time
restructuring costs associated with its all-in-to-win
transformation plan.
Additionally, further deleveraging resulted from capital structure
changes. The company entered into an agreement to sell an
additional 4.7% of its stake in Wella AG (bringing its ownership
stake down to 25.9%) to KKR in exchange for redemption of about 56%
of KKR's remaining convertible shares and accrued dividends. KKR
has also announced the sale of its remaining 2.4% ownership stake
in Coty by converting its preferred shares into common equity,
thereby exiting its ownership of Coty. S&P said, "We expect future
annual dividend payouts to preferred equity holders to decrease by
about $25 million to about $13 million as a result of these
transactions. In addition, these transactions reduce our measure of
consolidated leverage by about 0.5x, given our treatment of the
company's preferred equity as a debt-like obligation."
The company's recent strategic and operational initiatives should
support sustained above pre-pandemic profitability over the medium
term. Coty generated EBITDA margins of 20.8% in the first quarter
of fiscal 2022, which compares with 9.3% and 13.4% for the same
period in 2021 and 2020, respectively. The company successfully
navigated through inflation and supply chain headwinds that have
plagued the industry. The vast majority of the company's freight is
under contract and is not dependent on spot-based pricing. The
company had secured these contracts in advance which shielded it
from a significant amount of freight headwinds. In addition, a
significant portion of the company's inventory is manufactured
locally within its various global markets, thereby simplifying
transportation and alleviating potential pressures from logistics
constraints. S&P said, "We expect inflationary pressures and
supply-chain bottlenecks to partially offset profitability gains
through the remainder of the year as the company's cost savings
taper off. In addition, Coty announced it would continue to
increase its marketing spend and reinvest proceeds from efficiency
gains into its key strategic initiatives. However, we expect cost
base optimization and other initiatives to sustain a 50-basis-point
(bp) improvement in EBITDA margins relative to fiscal 2019 over the
medium term."
Coty has recently launched a number of new products including Gucci
Flora Gorgeous Gardenia and Burberry Hero fragrances, Rimmel's
Wonder'Extension mascara, and first-to-mass Kind & Free range of
clean, vegan, and cruelty-free cosmetics products and Max Factor's
Facefinity foundation. It also completed a relaunch of Kylie
cosmetics and is successfully executing Lancaster's repositioning
in the skincare segment. S&P said, "We expect these efforts will
continue to improve the company's positioning in the respective
segments while elevating its portfolio, resulting in market share
growth amid the increasingly competitive beauty industry. We expect
this to also benefit operating leverage as volumes increase,
further accelerating EBITDA growth in fiscal 2022, resulting in
adjusted EBITDA margin expansion to 16%-17% from 14% in fiscal
2021."
S&P said, "We expect Coty's management to continue prioritizing
debt reduction with all excess cash proceeds being applied toward
debt repayment, thus reducing and sustaining leverage below 6x. We
believe Coty will use cash proceeds from its Brazilian IPO and
additional sales of its stake in Wella toward debt repayment, which
we estimate will exceed $500 million in fiscal 2022. The company is
also undertaking several real estate divestitures in the second
quarter of fiscal 2022 which are expected to yield about $150
million of cash proceeds that we expect the company will use for
debt reduction. The reduction in consolidated debt levels, combined
with strong EBITDA growth, should result in leverage declining to
the mid-5x area, compared to our previous forecast of 6.2x. We
expect Coty to remain committed to a disciplined approach toward
asset sales and debt reduction and continue to look for
opportunities for potential asset dispositions to further
streamline its portfolio. The company reiterated its target to
reduce leverage towards 5x by the end of 2021 and 4x (based on
management's calculations) by the end of 2022. Moreover, we expect
voluntary debt repayments to help improve the cushion under the
company's net leverage covenant over the next few quarters to
around 15% from 11%at the end of the first quarter of fiscal
2022."
The revolver maturity extension addresses the company's refinancing
risk. Coty has secured commitments to extend its revolver maturity
to April 2025 and reduce its revolver capacity to $2 billion from
previous $2.75 billion. S&P siad, "We recognize the extension
largely addresses the refinancing risk associated with its upcoming
debt maturities. The company has $111.1 million of euro term loan A
facility maturing in April 2023 that we expect to be repaid by the
end of 2021. Its largest upcoming maturity is the 4% $638 million
euro notes in April 2023 that we assume will be redeemed with an
equal new issuance. The company has about $377 million cash on the
balance sheet that we believe includes some cushion due to the
uncertain macro environment and persistent supply chain
disruptions. Given the increase in its EBITDA margins due to its
improved product mix and cost optimization initiatives as well as
our expectation of cash inflows through better working capital
management, we expect Coty to generate free cash flow of $450
million to $500 million in fiscal 2022 and fiscal 2023."
The stable outlook reflects S&P's expectation that the company will
continue growing sales in the low-to-mid-teens percentage range and
earnings by more than 10% while sustaining leverage below 6x,
utilizing cash proceeds from proposed future transactions for debt
reduction in fiscal 2022.
S&P could raise its rating on Coty if it believed the company would
sustain leverage below 5x along with:
-- Achieving sustained organic growth and establishing a
successful record of retaining its market shares and sustaining its
improved cost structure;
-- Continuing to execute its strategy of utilizing all excess cash
proceeds, including from future asset sales and the Brazilian IPO
for debt reduction; and
-- Demonstrating conservative financial policies by not making
large, debt-financed dividends or acquisitions.
S&P could lower its ratings on Coty if it expects adjusted leverage
to remain above 7x, which could occur due to:
-- A revision to the company's asset sale and Brazilian IPO plans
that leads to lower than currently forecasted debt reduction;
-- A resurgence of COVID-19 variants causes increased mask wearing
or reimposition of restrictions on consumer mobility leading to
demand for the company's products remaining weak, resulting in
material organic revenue declines; or
-- An operational misstep, a worsening macro environment,
heightened competition, higher inflation or additional
restructuring charges stall sales and profit recovery prospects.
CRC BROADCASTING: Wins Interim Cash Access Thru Nov 30
------------------------------------------------------
The U.S. Bankruptcy Court for the District of Arizona has approved
the stipulation between CRC Broadcasting Company, Inc. and Desert
Financial Federal Credit Union, allowing the Debtor to use cash
collateral on an interim basis until November 30, 2021, pursuant to
the budget.
In consideration for the use of cash collateral, Desert Financial
is granted replacement liens on all of the Debtor's property after
the Petition Date, to the extent of diminution in value of Desert
Financial's interest in the estate property. Desert Financial also
is granted a superpriority administrative expense claim to the
extent the replacement liens are not adequate to protect for any
diminution of collateral.
Moreover, Desert Financial is granted a superpriority
administrative expense claim under Bankruptcy Code section 507(b)
(without the need to file or request any such claim with the
Bankruptcy Court or otherwise), to the extent Replacement Liens
above do not adequately protect Desert Financial for any diminution
of collateral, including Cash Collateral.
The Debtor owes Desert Financial under certain loan documents no
less than $1,477,964 resulting from its own debts and the debts of
affiliated debtor, CRC Media West, LLC that it guaranteed and
secured.
Crestmark Vendor Finance, a division of MetaBank, has asserted a
perfected, first priority purchase money security interest in
certain specified collateral pursuant to Equipment Finance
Agreement # 153522 entered into between Regents Capital Corporation
and CRC Media West, LLC, which Equipment Finance Agreement was
subsequently assigned by Regents Capital to Crestmark.
The Debtor asserts that in April 2020 it received a $10,000 advance
under the Economic Injury Disaster Loan Emergency Advance program
(however, its loan application was ultimately denied). Desert
Financial asserts that such Advance now constitutes Cash
Collateral, which is disputed by the Debtor. The Debtor proposes to
use $5,000 of the Advance to purchase an air conditioner unit
discussed between the Parties. Desert Financial approves the
purchase of the Unit, which constitutes collateral of Desert
Financial under the Loan Documents. The Debtor may use the
remaining $5,000 of the Advance solely for the expenses set forth
in the Budget.
The Debtor is also authorized to use cash collateral as provided in
the Budget for relocation expenses of AM station KQFN 1580 in
accordance with the contracts with Kintronic Labs, Inc, Max-Gain
Systems, Inc., and La Rue Communications.
A copy of the stipulated order and the Debtor's budget for November
2020 is available for free at https://bit.ly/3qAzz8c from
PacerMonitor.com.
The Debtor projects $90,000 in total monthly expenses.
About CRC Broadcasting Co.
CRC Broadcasting Company, Inc., a broadcast media company based in
Scottsdale, Ariz., filed a voluntary petition under Chapter 11 of
the Bankruptcy Code (Bankr. D. Ariz. Case No. 20-02349) on March 6,
2020, listing under $1 million in both assets and liabilities.
Affiliate CRC Media West, LLC also filed for Chapter 11 petition
(Bankr. D. Ariz. Case No. 20-02352) on March 6, 2020, listing under
$1 million in both assets and liabilities.
The cases are jointly administered.
Judge Paul Sala oversees both cases.
Allan D. NewDelman, Esq., at Allan D. NewDelman, P.C., is the
Debtors' legal counsel.
Squire Patton Boggs (US)LLP represents Desert Financial Federal
Credit Union, secured creditor.
Desert Financial Federal Credit Union, as secured creditor, is
represented by Squire Patton Boggs (US) LLP.
CRYOMASS TECHNOLOGIES: Incurs $2.1-Mil. Net Loss in Third Quarter
-----------------------------------------------------------------
Cryomass Technologies Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $2.05 million on zero sale for the three months ended Sept. 30,
2021, compared to a net loss of $5.94 million on zero sale for the
three months ended Sept. 30, 2020.
For the nine months ended Sept. 30, 2021, the Company reported a
net loss of $5.68 million on zero sale compared to a net loss of
$10.31 million on $781,455 of net sales for the nine months ended
Sept. 30, 2020.
As of Sept. 30, 2021, the Company had $13.88 million in total
assets, $10.54 million in total liabilities, and $3.33 million in
total shareholders' equity.
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001533030/000121390021058312/f10q0921_cryomasstech.htm
About Cryomass
Formerly known as Andina Gold Corp., Cryomass Technologies Inc.'s
business portfolio includes the accounts of Cryomass LLC (formerly
known as General Extract), which is controlled by the Company
through its 100% ownership interest, and CMI, a variable interest
entity for which the Company is deemed to be the primary
beneficiary and therefore is a consolidated entity of Cryomass
Technologies for GAAP purposes.
Andina Gold reported a net loss of $11.82 million for the year
ended Dec. 31, 2020, compared to a net loss of $3.06 million for
the year ended Dec. 31, 2019. As of March 31, 2021, the Company
had $8.21 million in total assets, $4.79 million in total
liabilities, and $3.42 million in total shareholders' equity.
Lakewood, CO-based BF Borgers CPA PC, the Company's auditor since
2020, issued a "going concern" qualification in its report dated
March 30, 2021, citing that the Company has suffered recurring
losses from operations that raises substantial doubt about its
ability to continue as a going concern.
DALTON CRANE: Gets Final Cash Collateral Access
-----------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas,
Houston Division, has authorized Dalton Crane, L.C. to use cash
collateral on a final basis on the terms set forth in the Cash
Collateral Motion.
The Motion is granted on a final basis to all creditors except
Signature Financial LLC. The Motion is reset for final approval
subject to Signature's objections, if any, on December 8, 2021 at
11 a.m. in Houston, Texas, Courtroom 402.
The Debtor is authorized to make $9,000 in adequate protection
payments to Signature per month starting November 15, 2021, and
continuing monthly thereafter, provided that payment of adequate
protection in the amount set forth in the final order, is without
prejudice to the rights of Signature to seek further relief
regarding use of cash collateral and/or seeking adequate
protection.
The Budget is approved, and will be updated monthly on the 20th day
of each month by filing a Notice of Monthly Budget attaching the
month's proposed budget for the next succeeding month.
The budget provided for $656,300 in total monthly expenses.
A copy of the order and the Debtor's budget is available at
https://bit.ly/3Hc1sZU from PacerMonitor.com.
About Dalton Crane, L.C.
Dalton Crane, L.C. provides crane and related services within the
Texas oil and gas industry, typically at wellhead or drill
locations for oil and gas drilling and operational businesses.
Dalton's activities involve acquisition, renting, operating and
disposition of crane and related assets currently deployed to
various oil and gas operational cites within south Texas.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Tex. Case No. 21-33218) on October 1,
2021. In the petition signed by Joshua Dalton, CEO/member, the
Debtor disclosed $22,113,730 in assets and $14,515,457 in
liabilities.
Judge Eduardo V. Rodriguez oversees the case.
Michael G. Colvard, Esq., at Martin & Drought, P.C. is the Debtor's
counsel.
Signature Financial LLC, as creditor, is represented by:
Frances Smith, Esq
Ross and Smith PC
Weston Centre
700 N. Pearl Street, Suite 1610
Dallas, TX 78201
Email: Frances.smith@judithwross.com
Tel: 214-377-7879
- and -
Morrit Hock and Hamroff LLP
400 Garden City Plaza
Garden City, NY 11530
Email: rcohen@moritthock.com
aarotsky@moritthock.com
Tel No: 516-873-2000
First State Bank, as secured creditor, is represented by:
Richard Chapman, Esq
Anderson, Smith, Null & Stofer, LLP
101 W. Goodwin, Suite 700
Post Office Box 1969
Victoria TX 77902
Email: rchapman@andersonsmith.com
Tel: 361-573-9191
Fax: 361-573-5288
DELCATH SYSTEMS: Incurs $7.1 Million Net Loss in Third Quarter
--------------------------------------------------------------
Delcath Systems, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $7.13 million on $395,000 of product revenue for the three
months ended Sept. 30, 2021, compared to a net loss of $4.99
million on $340,000 of product revenue for the three months ended
Sept. 30, 2020.
For the nine months ended Sept. 30, 2021, the Company reported a
net loss of $20.30 million on $1.05 million of product revenue
compared to a net loss of $17.13 million on $778,000 of product
revenue for the same period during the prior year.
As of Sept. 30, 2021, the Company had $34.43 million in total
assets, $22.70 million in total liabilities, and $11.73 million in
total stockholders' equity.
"During the quarter we strengthened our balance sheet and added
senior personnel to the Delcath team," said Gerard Michel, CEO of
Delcath. "With the additional capital and senior leadership,
Delcath has the required resources to accomplish its strategic
priorities – the filing of the HEPZATO NDA in mid-2022, preparing
for the subsequent US launch when approved, and expanding the
development of HEPZATO into additional areas of high unmet need."
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/872912/000156459021055636/dcth-10q_20210930.htm
About Delcath Systems
Headquartered in New York, NY, Delcath Systems, Inc. --
http://www.delcath.com-- is an interventional oncology company
focused on the treatment of primary and metastatic liver cancers.
The Company's lead product candidate, Melphalan Hydrochloride for
Injection for use with the Delcath Hepatic Delivery System, or
Melphalan/HDS, is designed to administer high-dose chemotherapy to
the liver while controlling systemic exposure and associated side
effects. In Europe, Melphalan/HDS is approved for sale under the
trade name Delcath CHEMOSAT Hepatic Delivery System for Melphalan.
Delcath Systems reported a net loss of $24.15 million for the year
ended Dec. 31, 2020, compared to a net loss of $8.88 for the year
ended Dec. 31, 2019. As of June 30, 2021, the Company had $24.92
million in total assets, $9.76 million in total liabilities, and
$15.16 million in total stockholders' equity.
New York, NY-based Marcum LLP, the Company's auditor since 2018,
issued a "going concern" qualification in its report dated March
31, 2021, citing that the Company has a significant working capital
deficiency, has incurred significant losses and needs to raise
additional funds to meet its obligations and sustain its
operations. These conditions raise substantial doubt about the
Company's ability to continue as a going concern.
DIAMONDHEAD CASINO: Incurs $356K Net Loss in Third Quarter
----------------------------------------------------------
Diamondhead Casino Corporation filed with the Securities and
Exchange Commission its Quarterly Report on Form 10-Q disclosing
a net loss of $356,308 for the three months ended Sept. 30, 2021,
compared to a net loss of $328,627 for the three months ended Sept.
30, 2020.
For the nine months ended Sept. 30, 2021, the Company reported a
net loss of $1.21 million compared to a net loss of $1.06 million
for the nine months ended Sept. 30, 2020.
As of Sept. 30, 2021, the Company had $5.6 million in total assets,
$15.57 million in total liabilities, and a total stockholders'
deficit of $9.97 million.
The Company had an accumulated deficit of $43,059,116 at Sept. 30,
2021. Due to its lack of financial resources, the Company has been
forced to explore other alternatives, including a sale of part or
all of the Property.
Diamondhead stated, "The Company has had no operations since it
ended its gambling cruise ship operations in 2000. Since that
time, the Company has concentrated its efforts on the development
of its Diamondhead, Mississippi property. That development is
dependent upon the Company obtaining the necessary capital, through
either equity and/or debt financing, unilaterally or in conjunction
with one or more partners, to master plan, design, obtain permits
for, construct, open, and operate a casino resort.
In the past, in order to raise capital to continue to pay on-going
costs and expenses, the Company has borrowed funds, through Private
Placements of convertible instruments as well as through other
secured notes which are more fully described in Notes 5 through 9
to these unaudited condensed consolidated financial statements.
The Company is in default with respect to payment of both principal
and interest under the terms of most of these instruments. In
addition, at September 30, 2021, the Company had $10,449,938 of
accounts payable and accrued expenses and $123,664 in cash on
hand.
The above conditions raise substantial doubt as to the Company's
ability to continue as a going concern."
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/844887/000149315221027650/form10-q.htm
About DiamondHead
Headquartered in Alexandria, Virginia, DiamondHead Casino
Corporation owns, through its wholly-owned subsidiary, Mississippi
Gaming Corporation, an approximate 400-acre undeveloped property
located at 7051 Interstate 10, Diamondhead, Mississippi 39525. The
Company's intent was and is to construct a casino resort and other
amenities on the Property unilaterally or in conjunction with one
or more joint venture partners.
Diamondhead reported a net loss of $2.22 million for the year ended
Dec. 31, 2020, compared to a net loss of $1.28 million for the year
ended Dec. 31, 2019.
Marlton, New Jersey-based Friedman LLP, the Company's auditor since
2004, issued a "going concern" qualification in its report dated
Sept. 3, 2021, citing that the Company has incurred significant
recurring net losses over the past several years. In addition, the
Company has no operations. These conditions raise substantial
doubt about the Company's ability to continue as a going concern.
The Company's continued existence is dependent upon its ability to
raise the necessary capital with which to satisfy liabilities, fund
future costs and expenses and develop the Diamondhead, Mississippi
property.
DYNOTEC INDUSTRIES: Wins Cash Collateral Access Thru Feb 2022
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Arizona has
authorized DynoTec Industries, Inc. to use cash collateral and
provide adequate protection through February 14, 2022 in accordance
with the budget.
The Debtor is permitted and directed to grant adequate protection
to Funding Circle and its affiliates, and the United States Small
Business Administration and the Internal Revenue Service during the
period of the cash collateral order as follows: (i) replacement
liens in the cash collateral; (ii) reporting and accounting for the
use of any cash proceeds by the Debtor on a monthly basis; (iii)
keeping the cash collateral insured; (iv) providing payments to
Funding Circle and their affiliates and the SBA for their loan
where payments are currently due on a monthly basis in an amount
equal to the interest on the loans.
The replacement liens of Funding Circle and its affiliates, the SBA
and the IRS will have the same dignity, priority and effect as
their respective prepetition interests, if any.
A copy of the order is available at https://bit.ly/3nbMZp2 from
PacerMonitor.com.
About DynoTec Industries, Inc.
DynoTec Industries, Inc. was founded in 2007 as a transmission
repair and refurbishing shop in Shakopee, Minnesota. DynoTec's 100%
owner is Timothy Lundquist. Typically, the business does from
between $2,000,000 and $3,000,000 in sales per year. The business
has grown and changed over the years and now primarily caters to
commercial clients.
DynoTec sought protection under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. D. Minn. Case No. 21-30803) on May 14, 2021. In the
petition signed by Timothy Lundquist, president, the Debtor
disclosed $1,285,850 in assets and $4,398,498 in liabilities.
Judge Kathleen H. Sanberg oversees the case.
Sapienta Law Group is the Debtor's counsel.
E.W. SCRIPPS: S&P Upgrades ICR to 'B+' on Advertising Growth
------------------------------------------------------------
S&P Global Ratings raised its issuer credit rating on U.S.-based
television broadcaster The E.W. Scripps Co. to 'B+' from 'B'. S&P
also raised the issue-level ratings on the company's secured debt
to 'BB' from 'BB-'. The recovery rating remains '1'.
S&P said, "At the same time, we raised the issue-level on the
company's unsecured debt to 'B' from 'CCC+' and revised the
recovery rating to '5' from '6' to reflect the increased recovery
for unsecured debtholders after the $400 million unsecured notes
due 2025 were redeemed and the company repaid $100 million of its
senior secured term loan.
"We expect pro forma average trailing-eight-quarters leverage will
decline below 5.5x in mid-2022. Growth in Scripps' core advertising
revenue at both its local TV station and network segments has
exceeded our expectations for the first three quarters of 2021,
with core advertising at the local TV stations reaching 2019 levels
in the third quarter. The company has also begun to realize revenue
synergies from combining its legacy networks with ION and selling
its network advertising inventory as a bundle. As a result, the
company has increased its free cash flow guidance for 2021 to $255
million-$265 million from $210 million-$240 million earlier in the
year and has used its cash flow to voluntarily prepay $100 million
of its 2028 term loan so far this year. We now expect leverage to
be in the 5.7x-5.9x range at the end of 2021 and to decline below
our 5.5x upgrade threshold by mid-2022."
The company's financial policy is currently constrained by its
preferred stock agreement. The company has limited ability to
return cash to common shareholders because it is prohibited from
repurchasing shares or issuing a common dividend until its
preferred shares are redeemed, which will not be until 2026 at the
earliest. Before issuing the preferred stock, Scripps was much more
aggressive than it had been historically, with a series of
debt-financed acquisitions that significantly increased leverage
from below 3x to about 6x in 2020. The company has publicly
indicated an intention to bring leverage down to about 3.5x, which
would likely equate to about 4.5x-4.7x on an S&P Global
Ratings-adjusted basis after including its preferred stock other
adjustments for pensions and leases. S&P believes the company will
generate enough cash flow to achieve its leverage goals, and the
preferred stock will prevent the company from using its cash for
shareholder rewarding initiatives over the next few years. However,
it is unclear what the company's financial policy will be once the
preferred shares have been redeemed. In addition, the company could
pursue additional acquisitions in the network segment, which could
cause temporary spikes in leverage. S&P believes it is likely that
leverage will be maintained in the 4.5x-5.5x range over the next
few years.
Scripps has more exposure to cyclical advertising revenue than
peers. The network segment, which is mostly advertising revenue,
now accounts for roughly 70% of total EBITDA in non-election years
and about 55% of EBITDA in election years. Scripps' networks
compete for volatile advertising revenue in a growing market of
ad-supported, free-to-stream products. In addition, ION's
must-carry status precludes it from collecting more stable
retransmission revenue. Retransmission revenue only accounts for
about 25% of Scripps' pro forma average eight-quarter revenue,
which is significantly lower than its TV broadcasting peers, and
therefore Scripps faces more exposure to an economic downturn than
its peers.
The stable outlook reflects S&P's expectation that net pro forma
leverage will decline and remain below 5.5x in 2022 as the company
realizes incremental synergies from the ION acquisition, core
advertising continues to recover, and political revenue meets or
exceeds 2020 levels.
S&P could lower the rating over the next 12 months if we expected
leverage to remain above 5.5x for an extended period. This could
occur if:
-- An economic recession caused steep declines in core
advertising;
-- Subscriber declines accelerated, causing net retransmission
revenues to decline; or
-- The company pursued large acquisitions that were not
immediately accretive to EBITDA.
While unlikely over the next 12 months, S&P could raise the rating
if:
-- S&P expected leverage to decline and remain below 4.5x; and
-- The company established and committed to a financial policy
that would support leverage remaining below that level even without
the limitations on shareholder rewarding activities related to the
preferred stock or potential acquisitions.
EARTH ENERGY: Unsecured Creditors to Recover 50% in Plan
--------------------------------------------------------
Earth Energy Renewables, LLC, filed with the U.S. Bankruptcy Court
for the Western District of Texas a Subchapter V Plan of
Liquidation dated Nov. 9, 2021.
On Aug. 18, 2021, the Trustee sold all of the assets of the Debtor
pursuant to an Order of the Bankruptcy Court ("Sale"). The Trustee
received $11,277,734 in gross sales proceeds. After paying secured
creditors and some administrative claims, the Estate received net
proceeds of $1,318,608.
On or about Oct. 15, 2021, the Debtor and several creditors
attended a mediation ("Mediation") to reach a settlement regarding
outstanding claim objections. The parties in attendance were the
Debtor, Keresa Plantation SDN BHD ("Keresa"), KDB Finance, LLC,
Steve Robson, and SC Ventures, LLC (collectively, the "Robson
Group"), Jeff Wooley and John Wooley (collectively, the "Wooleys"),
the EER DIP Group, and Matthew Cantu, Cesar Granda, Stephen
Montgomery, Sean Newton, Wolfgang Verdgaal, and Juan Zavala, Jubo
Zhang (collectively, the "Employees").
The Debtor, Trustee, Keresa, the Robson Group, the Wooleys, EER DIP
Group, and the Employees are collectively referred to a s the
"Mediation Parties." The Mediation Parties reached an agreement to
resolve, settle, and compromise their disputes ("Mediation
Agreement").
As a result of the Sale and Mediation, the purpose of this Plan is
to liquidate and distribute the limited monies to the creditors as
quickly as possible with the least amount of cost.
Following the sale, the Debtor has few assets remaining. Therefore,
the Debtor believes the Plan provides the greatest possible value
under the circumstances and has the greatest chance to be confirmed
and consummated.
Class 8 consists of Unsecured Claims. Class 8 claimants will be
paid a pro-rata distribution of any funds remaining after paying
all administrative expenses of the bankruptcy estate and the
Disbursing Agent, and distributions to be made to Classes 1 through
7. Once all claims are allowed, the Disbursing Agent will pay
these creditors their prorated share of remaining funds held by the
Disbursing Agent. This Class will receive a distribution of 50% of
their allowed claims.
Class 9 consists of the Robson Group and Keresa's additional
Mediation Claims. Class 9 claimants will receive a pro-rata
distribution of any additional funds after the satisfaction of all
claims and EER obligations under the Plan. There is not anticipated
to be distribution to Class 9.
Class 10 consists of all existing equity interests. Class 10
claimants shall not be paid under the Plan.
Funding will come from the proceeds of the Sale held by the
Trustee.
A full-text copy of the Subchapter V Plan dated Nov. 9, 2021, is
available at https://bit.ly/3qAFBWq from PacerMonitor.com at no
charge.
Attorney for the Debtor:
Dean W. Greer, Esq.
2929 Mossrock, Suite 117
San Antonio, TX 78230
Tel.: (210) 342-7100
Fax: (210) 342-3633
E-mail: dean@dwgreerlaw.com
About Earth Energy Renewables
Earth Energy Renewables, LLC is a Canyon Lake, Texas-based company
focused on commercializing bio-based chemicals and fuels. It has
demonstrated success in creating high-margin green alternatives to
petroleum-based products. Visit http://www.ee-renewables.comfor
more information.
Earth Energy Renewables sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Tex. Case No. 20-51780) on Oct. 20,
2020. Jeff Wooley, manager, signed the petition. In the petition,
the Debtor disclosed total assets of up to $50 million and total
liabilities of up to $10 million.
Judge Ronald B. King oversees the case.
Dean W. Greer, Esq., is the Debtor's legal counsel.
Eric Terry, Chapter 11 trustee, tapped Chamberlain Hrdlicka White
Williams & Aughtry P.C. as legal counsel, William G. West P.C. CPA
as accountant, CohnReznick Capital Market Securities, LLC as
investment banker, and Macco Restructuring Group LLC as financial
advisor. Mr. McManigle, managing director at Macco, serves as
chief restructuring officer.
EVERGREEN DEVELOPMENT: Updates Minnesota Bank Secured Claims Pay
----------------------------------------------------------------
Evergreen Development Group and The Evergreens of Apple Valley,
L.L.P., submitted a Fourth Amended Joint Disclosure Statement
describing Plan of Reorganization dated November 11, 2021.
The Debtor has determined in its business judgment that it is in
the best interest of the creditors and the enterprise itself to
reorganize the company as a going concern. The Debtor believes the
reorganization of the business will allow customers and suppliers
to continue to do business. The reorganization is anticipated to
generate enough proceeds to pay the value of the collateral to the
secured creditors and to provide a sum of money to pay the
unsecured creditors a significant amount of their allowed claims.
Under the provisions of the Bankruptcy Code, a creditor having a
lien or security interest in the assets of the Debtor will have a
secured claim only up to the value of the collateral securing the
claim. It is anticipated that at the time of confirmation of the
Plan, the only secured creditor of the Debtor will be Minnesota
Bank and Trust which holds a first priority mortgage on the
Debtor's primary asset. MB&T will be treated as a fully secured
creditor with a claim of $4,015,157.
Class 1-A consists of the Secured Claims of Minnesota Bank and
Trust. The Class 1-A creditor holds a combination mortgage,
security agreement and fixture financing statement executed by
Debtor, in favor of MB&T, dated Nov. 30, 2005, and recorded on Jan.
13, 2006, as Document No. 1182373, in the Office of the County
Recorder in and for Stearns County, Minnesota on the Property. In
full satisfaction of the claims of MB&T it will retain its first
priority lien on the Property owned by Debtor and rental proceeds
generated by the Debtor's operations. The amount of the secured
claim of Class 1-A shall be Allowed in the amount of $4,015,157.45,
plus accruing interest, fees, and attorneys' fees since August 24,
2021 (the "Class 1-A Secured Claim").
In addition, the Class 1-A claimant shall be granted a security
interest in the New Collateral as additional collateral for its
secured Class 1-A claim. The Debtor shall establish an escrow
account at MB&T to fund taxes and insurance for the Property. The
Debtor shall provide MB&T with a Deed in Lieu of Foreclosure to be
held in escrow. MB&T shall have the right to transfer the Property
pursuant to the Deed and to liquidate the New Collateral in the
event the Debtor: i) fails to make any payments as provided herein
and such default is not cured for a period of 90 days; or ii) if
the Debtor fails to maintain the New Collateral in the amount equal
to at least $600,000.00 and such failure is not cured for a period
of 90 days.
In the event of a sale of the Property, the full balance of the
sale proceeds after deduction of normal and customary commissions
and closing costs shall be paid to MB&T until the full balance of
the Allowed secured claim of the Class 1-A claim is paid in full.
Any excess proceeds will be paid on a pro rata basis to the Class
2-A creditors. Paul and Vicki Williams shall execute replacement
guaranties for the Class 1-A indebtedness. MB&T agrees to vacate
any judgment it holds against Paul Williams, Vickie Williams,
Robert Hopman and Jackie Hopman.
Class 2-A consist of the claims related to all of the junior lien
holders on the Debtors the Property and any general unsecured
claims in excess of $2,500.00, including the claims of Keith A.
Franklin, d/b/a Franklin Outdoor Advertising Co., The John Duke
Trust, Paul Williams, The Williams Family Foundation, Paul Williams
and Associates, The Williams Family Trust, Lisa J. Hadley, Edward
H. Fish, Jeremy Christensen and Mark Lehmeier (the "Lien Holder
Claims"). This class is impaired. The claims in the in this class
of creditors shall receive their pro rata share of annual payments
of $8,000 for a period of 6 years following confirmation of the
Plan.
Like in the prior iteration of the Plan, Allowed unsecured trade
claims against Debtor in Class 2-B total $2,500.00 or less and any
other Trade claimant that agrees to reduce its claim to $2,500.00.
The approximate amount of those claims is currently $48.42. The
Class 3-A claim the holders will receive 100% of the Allowed Claim
on the Effective Date of the Plan. This Class is unimpaired.
The reorganized debtor will continue to operate its business
following the Confirmation Date in accordance with the projections
provided in connection with the Disclosure Statement. Gateway LLC
will become the owner of all of the Equity Interests of the debtor
and has agreed to inject in to Gateway LLC, the following (the "New
Collateral"):
* Publicly traded securities having a value of $695,000.00.
The owners of the Equity Interests shall have the right to provide
substitute publicly traded securities of a similar value and
character, provided the value of the New Collateral or any
replacement thereof shall at all times equal or exceed
$600,000.00.
The Class 1-A creditor MB&T will be granted a security interest in
the New Collateral as additional assets for its claims in a form
reasonably acceptable to MB&T and Gateway. The Debtor shall
maintain the New Collateral with a minimum value of $600,000.00.
The value will be reviewed every quarter, if the value of the New
Collateral falls below $600,000.00, Gateway shall have 90 days to
provide additional collateral in the form of publicly traded
securities in order to ensure the total value of the New Collateral
is at a minimum of $600,000.00. If there is a default in payments
to MB&T under the Plan for a period of more than 90 days to the
Class 1- A creditor MB&T shall have the right to liquidate the New
Collateral in a reasonably commercial manner and apply the proceeds
to pay the Calls 1-A claims.
The dividends from the New Collateral will supply ongoing cash flow
to the Debtor from Gateway LLC and provide additional cash flow to
fund any shortfalls in the operations of the reorganized debtor and
make the payments due under the Plan so long as the value of the
New Collateral does not fall below $600,000.00. All assets, if any,
of The Evergreens of Apple Valley, L.L.P. will be transferred to
Evergreen Development Group upon confirmation of the Plan. MB&T,
Debtor, Gateway LLC, and/or Paul and Vickie Williams shall execute
any documentation to effectuate the intentions of this Plan.
The Bankruptcy Court has scheduled Jan. 25, 2022 as the
Confirmation Hearing.
A full-text copy of the Fourth Amended Joint Disclosure Statement
dated Nov. 11, 2021, is available at https://bit.ly/3DiT8p4 from
PacerMonitor.com at no charge.
About Evergreen Development Group
Evergreen Development Group is a single asset real estate company
which owns and leases commercial real estate in Waite Park,
Minnesota. Its principal place of business and corporate offices
are located at 95 10th Ave. South, Waite Park, Minnesota, 56387.
The Debtor merged with The Evergreens of Apple Valley, L.L.P. in
2015.
Evergreen Development sought protection under Chapter 11 of the
U.S. Bankruptcy Court (Bankr. D. Minn. Case No. 21-60066) on Feb.
26, 2021. In the petition signed by Robert A. Hopman, general
partner, the Debtor disclosed up to $10 million in assets and up to
$50,000 in liabilities.
FOLEY & MANSFIELD, P.L.L.P., represents the Debtor.
FLYNN RESTAURANT: S&P Rates New $80MM Senior Credit Facilities 'B'
------------------------------------------------------------------
S&P Global Ratings assigned its 'B' issue-level rating and '3'
recovery rating to Flynn Restaurant Group L.P.'s proposed $80
million revolving credit facility due 2026 and affirmed its '3'
recovery rating on its amended and extended $1,050 million
first-lien term loan due 2028, upsized from $592 million previously
due 2025. The '3' recovery rating indicates S&P's expectation for
meaningful (50%-70%; rounded estimate: 55%) recovery in the event
of a payment default. S&P expects the company to use the net
proceeds from this offering to refinance its existing second-lien
term loan and the existing credit facilities at the Flynn Borrowing
Group and Apple American Group entities, as well as to repay its
preferred equity. S&P expects the proposed transaction to be
leverage neutral as it had incorporated Flynn's preferred equity in
our measure of its adjusted leverage. The proposed revolving credit
facility will rank pari passu with the company's senior secured
first-lien debt.
Flynn reported a strong year-to-date (as of June 30, 2021)
performance with a double-digit percent increase in its comparable
sales growth across two years at Taco Bell, Applebee's, Wendy's,
and Pizza Hut. In particular, Applebee's (whose operations account
for approximately 40% of the pro forma borrowing group's EBITDA)
average weekly unit sales have surpassed pre-covid levels and its
off-premise dining sales have materially increased. While Arby's
operations have faced disruptions stemming from supply chain issues
in 2021, its second-quarter comparable sales rose by the mid- to
high-single digit percent range while its two-year comparable sales
at Panera finally turned positive beginning in June 2021 because
its dine-in operations continue to suffer from the effects of the
pandemic. S&P anticipates that Flynn's pro forma leverage will
improve to the mid- to high-5x area over the next 12 months. All of
its other ratings on Flynn, including its 'B' issuer credit rating,
are unchanged. The outlook is stable.
As part of the transaction, the company is looking to fold its
Applebee's (Apple American Group) operations into the existing
Borrowing Group, which includes Bell American, Pan American, and RB
American. The rated debt facilities will be guaranteed by Flynn's
Applebee's, Taco Bell, Panera Bread, and Arby's operations through
a restricted credit group structure that excludes its Wendy's (Wend
American Group) and Pizza Hut (Hut American Group) operations.
Flynn Restaurant Group L.P. is the ultimate parent company as well
as the borrower of the debt facilities for the restricted credit
group. S&P's issuer credit rating incorporates our consolidated
view of the group, including its unrestricted subsidiaries'
operations.
ISSUE RATINGS--RECOVERY ANALYSIS
Key analytical factors
-- S&P assigned its 'B' issue-level rating and '3' recovery rating
to Flynn's proposed $80 million revolving credit facility due 2026.
The '3' recovery rating indicates its expectation for meaningful
(50%-70%; rounded estimate: 55%) recovery in the event of a payment
default.
-- S&P affirmed its '3' recovery rating on Flynn's upsized and
extended $1,050 million first-lien term loan due 2028 (50%-70%;
rounded estimate: 55%). The proposed revolving credit facility will
rank pari passu with the company's senior secured first-lien debt.
-- S&P's recovery analysis considers a hypothetical bankruptcy
scenario in which the first-lien lenders benefit from a first lien
on substantially all tangible and intangible assets of the
restricted credit group.
-- S&P's simulated default scenario contemplates a default
occurring in 2024 because of a steep decline in EBITDA stemming
from several factors. These include a protracted decline in
consumer spending, intensified competition from other local and
branded restaurants, higher commodity prices and payroll costs, and
an inability to pass increased costs through to its customers.
-- S&P has considered the recovery prospects from the restricted
credit group of subsidiary group guarantors as well as the residual
value from the non-restricted group subsidiaries, which would flow
indirectly to the primary borrower and parent in a default
scenario.
S&P said, "Our simulated default scenario assumes that Flynn would
emerge from a bankruptcy event to maximize its lenders' recovery
prospects given its market position as the largest Applebee's,
Arby's, and Pizza Hut franchisee and one of the largest Taco Bell,
Wendy's, and Panera Bread franchisees in the U.S. Therefore, we
valued the company on a going concern basis by applying a 5.0x
multiple, which is in line with the multiples we use for other
restaurant operators, to our projected emergence-level EBITDA. In
the restricted credit group, our recovery analysis assumes that by
the time the company defaults, about $50 million of borrowings
would be outstanding on the first-lien cash flow revolver
(excluding outstanding letter of credits) and about $1,049 million
would be outstanding under the amended first-lien term loan."
Simulated default assumptions
-- Simulated year of default: 2024
-- EBITDA at emergence: About $193 million
-- Implied enterprise value (EV) multiple: 5x
-- Estimated gross EV at emergence: About $965 million
Simplified waterfall
-- Net EV after 5% administrative costs: About $917 million
-- Agg. unrestricted group net recovery value: About $303 million
-- Less agg. subsidiary debt at unrestricted groups: About $339
million
-- Net residual value available to first-lien debt at Flynn
-- Restaurant Group L.P.: About $12 million
-- Restricted Group net recovery value: About $614 million
-- First-lien credit facility claims*: About $1,097 million
--Recovery expectations: 50%-70% (rounded estimate: 55%)
*Debt claims include six months of prepetition interest.
FULL HOUSE: Posts $4.6 Million Net Income in Third Quarter
----------------------------------------------------------
Full House Resorts, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing net income
of $4.62 million on $47.24 million of revenues for the three months
ended Sept. 30, 2021, compared to net income of $7.71 million on
$41.96 million of revenues for the three months ended Sept. 30,
2020.
For the nine months ended Sept. 30, 2021, the Company reported net
income of $6.66 million on $136.89 million of revenues compared to
a net loss of $3.35 million on $87.32 million of revenues for the
same period during prior year.
As of Sept. 30, 2021, the Company had $470.09 million in total
assets, $362.77 million in total liabilities, and $107.32 million
in stockholders' equity.
As of Sept. 30, 2021, the Company had $274.5 million of cash and
equivalents, including $176.6 million of restricted cash dedicated
to the construction of Chamonix. The Company estimates that
between approximately $7 million and $9 million of cash is used in
its current day-to-day operations, including for on-site cash in
its slot machines, change and redemption kiosks, and cages. The
Company believes that current cash balances, together with the
available borrowing capacity under its revolving credit facility
and cash flows from operating activities, will be sufficient to
meet its liquidity and capital resource needs for the next 12
months of operations.
Management Commentary
"We had another strong quarter, with revenue and operating income
increases despite some weather challenges," said Daniel R. Lee,
president and chief executive officer of Full House Resorts.
"Revenues in the third quarter of 2021 increased 12.6%, reflecting
the relaxation of pandemic-related restrictions, our sale of 'free
play' in Indiana (in this year's third quarter instead of the
fourth quarter in prior years), and a continued strong overall
performance. Adjusted EBITDA increased to $13.6 million from $12.5
million in the third quarter of 2020."
Continued Mr. Lee, "At the Silver Slipper, guest visitation
remained robust except for a brief downturn as Hurricane Ida made
landfall. We had little damage from the hurricane, but it
significantly hampered our operations for four days. At Bronco
Billy's, we continue to try and mitigate the impact of Chamonix's
construction on Bronco Billy's neighboring operations. Despite the
loss of on-site parking, Bronco Billy's continued to perform
strongly relative to its average performance over the past decade.
Rising Star continues to do well. As noted above, Rising Star
benefited in the quarter from the sale of 'free play,' whereas
prior years had a similar transaction in the fourth quarter. At
our Nevada segment, Stockman's Casino has largely returned to
pre-pandemic levels, while Grand Lodge Casino was adversely
affected by a low table games hold percentage and smoke from nearby
wildfires, particularly over the Labor Day weekend.
"At our Chamonix project in Cripple Creek, we are currently
installing footings and structural walls for the hotel tower and
are preparing for the start of vertical construction. It is still
relatively early in the construction process, so estimates of cost
and completion dates still contain substantial uncertainty, but we
are in the process of completing the bidding for a substantial
portion of the construction budget.
"We also continue to pursue other growth opportunities in Waukegan,
Illinois, and Terre Haute, Indiana. In Illinois, we recently
presented our proposal to the Illinois Gaming Board for a new
destination casino in Waukegan, a northern suburb of Chicago.
Similarly, we are scheduled to present our unique proposal to the
Indiana Gaming Commission next week for an iconic casino hotel in
Terre Haute, approximately one hour west of Indianapolis. The
respective gaming commissions have indicated that they intend to
select their winning proposals on November 17 (Indiana) and by
early January (Illinois). Both new casinos would be named
'American Place.'
"Our management team at Full House has a long history of developing
some of the most iconic casinos in the world. We look forward to
the potential of developing both of these unique proposals over the
next few years."
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/0000891482/000089148221000049/fll-20210930x10q.htm
About Full House Resorts Inc.
Headquartered in Las Vegas, Nevada, Full House Resorts --
www.fullhouseresorts.com -- owns, leases, develops and operates
gaming facilities throughout the country. The Company's properties
include Silver Slipper Casino and Hotel in Hancock County,
Mississippi; Bronco Billy's Casino and Hotel in Cripple Creek,
Colorado; Rising Star Casino Resort in Rising Sun, Indiana; and
Stockman's Casino in Fallon, Nevada. The Company also operates the
Grand Lodge Casino at the Hyatt Regency Lake Tahoe Resort, Spa and
Casino in Incline Village, Nevada under a lease agreement with the
Hyatt organization. The Company is currently constructing a new
luxury hotel and casino in Cripple Creek, Colorado, adjacent to its
existing Bronco Billy's property.
Full House reported net income of $147,000 for the year ended Dec.
31, 2020, compared to a net loss of $5.82 million for the year
ended Dec. 31, 2019. As of June 30, 2021, the Company had $468.15
million in total assets, $365.77 million in total liabilities, and
$102.38 million in total stockholders' equity.
* * *
As reported by the TCR on Feb. 9, 2021, Moody's Investors Service
assigned a Caa1 Corporate Family Rating and Caa1-PD Probability of
Default Rating to Full House Resorts Inc. (FHR). The Caa1 CFR
reflects the long, approximately 24 months, Bronco Billy's
construction period, uncertainty related to the level of visitation
and earnings at the redesigned property, FHR's modest scale, and
exposure to cyclical discretionary consumer spending.
FUSE MEDICAL: Incurs $697K Net Loss in Third Quarter
----------------------------------------------------
Fuse Medical, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $697,036 on $4.25 million of net revenues for the three months
ended Sept. 30, 2021, compared to net income of $80,484 on $5.74
million of net revenues for the three months ended Sept. 30, 2020.
For the nine months ended Sept. 30, 2021, the Company reported a
net loss of $1.24 million on $14.36 million of net revenues
compared to a net loss of $1.63 million on $14.39 million of net
revenues for the same period during the prior year.
As of Sept. 30, 2021, the Company had $18.02 million in total
assets, $21.14 million in total liabilities, and a total
stockholders' deficit of $3.13 million.
During the nine months ended Sept. 30, 2021, net cash provided by
operating activities was $231,479 compared to $463,084 for the nine
months ended Sept. 30, 2020, representing a decrease of $231,605.
The decrease of $231,605 primarily resulted from: (a)(i) an
$2,000,043 increase in inventories, net of slow moving and
obsolescence reserves, (a)(ii) $1,340,386 in non-cash adjustments,
(a)(iii) a $47,149 increase in prepaid expenses and other current
assets, offset, in part, by, (b)(i) a $1,581,632 increase in
accounts payable, (b)(ii) a $924,346 reduction in long-term
accounts receivable, (b)(iii) a $391,107 reduction in net loss,
(b)(iv) a $234,130 increase in accrued expenses, and (b)(v) a
$24,758 reduction in accounts receivable.
For the nine months ended Sept. 30, 2021, there was no net cash
used in investing activities.
During the nine months ended Sept. 30, 2020, net cash used in
investing activities was approximately $20,757 for its investments
in new office workstations.
For the nine months ended Sept. 30, 2021, net cash provided by
financing activities was $346,345 compared to net cash used in
financing activities of $2,749 for the nine months ended Sept. 30,
2020 representing an increase of $349,094. The increase of
$349,094 primarily resulted from (a)(i) a reduction of $714,149 in
payments on the RLOC and (a)(ii) an increase in EIDL loan proceeds
of $200,000, offset, in part, by (b)(i) a reduction of $361,400 in
proceeds from the PPP Loan, (b)(ii) a reduction of $200,000 in
promissory notes proceeds and (b)(iii) an increase in payments on
the EIDL Loan of $3,655.
The Company's primary sources of liquidity are cash from its
operations and its RLOC with Amegy Bank. As of Sept. 30, 2021, the
Company's current assets exceeded its current liabilities by
$4,348,562, which includes $1,765,282 in cash and cash equivalents.
The Company believes cash from its operations and net borrowings on
its RLOC supports its Working Capital needs.
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/319016/000156459021056150/fzmd-10q_20210930.htm
About Fuse Medical
Headquartered in Richardson, Texas, Fuse Medical, Inc. --
www.fusemedical.com -- is a manufacturer and distributor of
innovative medical devices for the orthopedic and spine
marketplace. The Company provides a comprehensive portfolio of
products in the orthopedic total joints, sports medicine, trauma,
foot and ankle space, as well as, degenerative and deformity spine,
osteobiologics, wound care, and regenerative medicine products.
Fuse Medical reported a net loss of $1.43 million for the year
ended Dec. 31, 2020, compared to a net loss of $3.32 million for
the year ended Dec. 31, 2019. As of March 31, 2021, the Company
had $17.46 million in total assets, $19.91 million in total
liabilities, and a total stockholders' deficit of $2.45 million.
FUTURUM COMMUNICATIONS: Wins Cash Collateral Access Thru Dec 31
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Colorado has
authorized Futurum Communications Corp. and affiliates to continue
using cash collateral through December 31, 2021, to pay adequate
protection consistent with the updated budget for November and
December 2021.
The Court says that all other terms of the Final Cash Collateral
Order remain in effect.
A copy of the order and the Debtor's budget is available at
https://bit.ly/3qBvP68 from PacerMonitor.com.
The Debtor projects $213,622 in total operating expenses for
November 2021 and $169,622 for December 2021.
About Futurum Communications Corporation
Futurum Communications Corporation -- https://forethought.net -- is
an independent locally owned internet, cloud and communications
service provider with offices in Denver, Grand Junction and
Durango, offering a portfolio of enterprise-level cloud hosting,
colocation, Internet, voice and data solutions.
Futurum Communications sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Colo. Case No. 21-11331) on March 21,
2021. Jawaid Bazyar, president, signed the petition. In the
petition, the Debtor disclosed assets of between $1 million and $10
million and liabilities of the same range.
Judge Kimberley H. Tyson oversees the case.
The Debtor tapped Onsager Fletcher Johnson, LLC as its legal
counsel and Cook Forensics, LLC as its accountant.
GRUPO AEROMEXICO: Apollo Taking Stake in New Plan
--------------------------------------------------
Andrea Navarro of Bloomberg News reports that airline Grupo
Aeromexico SAB received a proposal to emerge from bankruptcy by
having lead lender Apollo Global Management Inc. convert some debt
into equity. A previous exit package didn't include the U.S. firm
getting a stake.
The carrier, which filed for Chapter 11 in 2020 after the pandemic
decreased travel, said that a group of new and existing creditors
and investors will repay the rest of the loan held by Apollo, which
led the carrier’s debtor-in-possession financing. Amounts were
not disclosed.
About Grupo Aeromexico
Grupo Aeromexico, S.A.B. de C.V. (BMV: AEROMEX) --
https://www.aeromexico.com/ -- is a holding company whose
subsidiaries are engaged in commercial aviation in Mexico and the
promotion of passenger loyalty programs.
Aeromexico, Mexico's global airline, has its main hub at Terminal 2
at the Mexico City International Airport. Its destinations network
features the United States, Canada, Central America, South America,
Asia and Europe.
Grupo Aeromexico and three of its subsidiaries sought Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 20-11563) on June 30,
2020. In the petitions signed by CFO Ricardo Javier Sanchez Baker,
the Debtors reported consolidated assets and liabilities of $1
billion to $10 billion.
The Debtors tapped Davis Polk and Wardell LLP as their bankruptcy
counsel, KPMG Cardenas Dosal S.C. as auditor, and Rothschild & Co
US Inc. and Rothschild & Co Mexico S.A. de C.V. as financial
advisor and investment banker. White & Case LLP, Cervantes Sainz
S.C. and De la Vega & Martinez Rojas, S.C., serve as the Debtors'
special counsel. Epiq Corporate Restructuring, LLC, is the claims
and administrative agent.
The U.S. Trustee for Region 2 appointed a committee to represent
unsecured creditors on July 13, 2020. The committee is represented
by Willkie Farr & Gallagher, LLP and Morrison & Foerster, LLP.
HEMANI HOSPITALITY: Seeks Cash Collateral Access
------------------------------------------------
Hemani Hospitality, LLC asks the U.S. Bankruptcy Court for the
Middle District of Pennsylvania for authority to use cash
collateral nunc pro tunc to the petition date.
The Debtor requires the use of cash collateral to fund all
necessary operating expenses of the Debtor's business.
The Debtor proposes to use the cash collateral in accordance with
the terms of the Budget. The Debtor also requests that it be
authorized to exceed any line item on the budget by an amount up to
15% of each such line item so long as the total of all amounts in
excess of all line items for the Budget do not exceed 15% percent
in the aggregate of the aggregate total budget.
Noah Bank has a purported lien on all of the Debtor's assets by
virtue of two Mortgages (Open End Mortgage Security Agreement and
Fixture Filing) and two Assignments of Rents and Leases recorded
with the Recorder of Deeds of Franklin County, Pennsylvania, and
UCC-1 Financing Statements filed with the New Jersey Secretary of
State on October 24, 2014.
Noah Bank is the only secured creditor that can allege a lien on
cash collateral.
The obligations to Noah Bank are based upon two loans, consisting
of (i) a loan in the principal sum of $3,025,000 from Noah as
evidenced by a U.S. Small Business Administration Note dated as of
October 24, 2014 (Note-A) and (ii) a loan in the principal sum of
$725,000 evidenced by an SBA Note dated as of November 17, 2014
(Note-B).
Noah Bank's debt is disputed by the Debtor. Judgment was entered on
Note A in 2019 in Franklin County, Pennsylvania Court of Common
Pleas, and that judgment on Note A was satisfied in June 2019.
Notwithstanding that Noah Bank had already entered and satisfied
the judgment on Note A in 2019, Noah Bank confessed judgment in
2020 in the Court of Common Pleas of Philadelphia County,
Pennsylvania on Note A again, along with Note B; averring untruly
that judgment had not been previously entered on either of the
Notes.
On the Petition Date, the indebtedness to Noah Bank was
approximately $3.2 million dollars on Note A and $755,000 on Note
B.
The Franklin County Tax Bureau has ad valorem tax liens against the
Hotel for unpaid property taxes of approximately $83,000 as of the
Petition Date.
Since the value of the Debtor's hotel is directly tied to ongoing
occupancy and average daily rates, the operation of the Hotel by
the Debtor to overcome the adverse effects on occupancy as a result
of the COVID-19 pandemic is the best way to assure value is
preserved, and indeed enhanced, for the secured creditor.
Prior to the COVID-19 pandemic, the hotel value was $4,150,000. As
with the hotel industry in general, that value has declined due to
diminished business and other travel within the US. The Debtor
anticipates the lifting of COVID-related restrictions will result
in the continued increase to the number of guests staying at the
Hotel which in turn will restore value lost during the pandemic.
As adequate protection, the Debtor is willing to adequately protect
Noah Bank on these terms:
a. Commencing on December 15, 2021 and continuing each
successive month or before the 15th day of the month thereafter,
the Debtor offers to pay Noah Bank $23,028 as an adequate
protection payments. This represents the contractual non-default
monthly payments due under the Notes.
b. The Debtor offers to provide Noah Bank with a replacement
lien on all property acquired after the commencement of the case.
c. The Debtor will maintain insurance on the Hotel and name
Noah Bank as mortgagee and additional insured.
d. The Debtor will pay current real estate taxes and other ad
valorem charges as they become due.
e. Between now and the earlier of December 30, 2021 or the
date set by the Court for a final hearing on cash collateral, the
Debtor will attempt to work out a permanent cash collateral order
with Noah Bank.
A copy of the motion is available at https://bit.ly/30tkDxJ from
PacerMonitor.com.
About Hemani Hospitality, LLC
Hemani Hospitality, LLC is a New Jersey limited liability company
formed in 2005. Hemani owns and operates a 73-room Baymont by
Wyndham hotel in Chambersburg, Pennsylvania, at 1122 Wayne Road,
Chambersburg, Pennsylvania 17201.
Hemani sought protection under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. M.D. Pa. Case No. 1:21-bk-02416) on November 11, 2021.
In the petition signed by Niranjan Khatiwala, managing member, the
Debtor disclosed up to $10 million in both assets and liabilities.
Beverly Weiss Manne, Esq., at Tucker Arensberg, P.C. is the
Debtor's counsel.
HK FACILITY: May Use Cash Collateral Thu Dec 15
-----------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois has
authorized HK Facility Services, Inc. to use cash collateral to pay
post-petition expenses to third parties during the period from
November 16 through December 15, 2021, to the extent set forth in
the budget, with a 10% variance.
Fox Capital Group, Inc. asserts that:
-- it purchased an interest in gross receipts of the Debtor,
-- the receivables are not property of the bankruptcy estate,
and
-- as a result, authority to use the receivables cannot be
granted under 11 U.S.C. section 363.
Instead of litigating the issue of whether the receivables are
property of the bankruptcy estate at this time, Fox has agreed to
consent to the Debtor's use of the receivables during the period of
time the interim order is in place in exchange for a payment of
$2,500 on or before November 30.
Thus, the Court allowed the Debtor to pay Fox $2,500 on or before
November 30.
Both the Debtor and Fox reserve all rights related to the issue of
the nature of the transaction between them and both reserve all
rights with regards to seeking a determination on the issue of
whether the receivables are property of the bankruptcy estate at
any time. Fox will also be granted a replacement lien, to the
extent one is necessary, attaching to the receivables. The Debtor
will also make available to Fox evidence of that which constitutes
the receivables or proceeds when a reasonable request for such
information is made.
As adequate protection for the Debtor's continued use of cash
collateral equivalents, including the Debtor's cash and accounts
receivable, among other collateral, Newco Capital Group VI LLC is
granted:
a. The Debtor will, upon reasonable request, make available to
Newco evidence of that which purportedly constitutes their
collateral or proceeds;
b. Newco is granted a replacement lien, attaching to the
collateral, but only to the extent of its prepetition lien, if any,
and attaching to the same assets of the Debtor in which Newco
asserted a prepetition lien; and
c. On or before November 30, the Debtor will pay $2,500 to
Newco as adequate protection payments.
A further hearing on the matter is scheduled for December 15 at 1
p.m.
A copy of the agreed order is available for free at
https://bit.ly/3qz1aq1 from PacerMonitor.com.
About HK Facility Services, Inc.
Founded in 2016, HK Facility Services, Inc. provides janitorial
services to businesses and apartment buildings. HK Facility's
business premises are located at 3209 N. Wilke Rd. #112 Arlington
Heights, IL 60004.
HK Facility sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ill. Case No. 21-10458) on September
9, 2021. In the petition signed by Hugh McGuirk, president, the
Debtor disclosed up to $50,000 in assets and and up to $500,000 in
liabilities.
Judge Janet S. Baer oversees the case.
Joseph Wrobel, Ltd. is the Debtor's counsel.
INNOVATION PHARMACEUTICALS: Incurs $2.1M Net Loss in 1st Quarter
----------------------------------------------------------------
Innovation Pharmaceuticals Inc. filed with the Securities and
Exchange Commission its Quarterly Report on Form 10-Q disclosing a
net loss of $2.06 million on zero revenues for the three months
ended Sept. 30, 2021, compared to a net loss of $1.17 million on
zero revenues for the three months ended Sept. 30, 2020.
As of Sept. 30, 2021, the Company had $14.73 million in total
assets, $6.43 million in total liabilities, and $8.30 million in
total stockholders' equity.
As of Sept. 30, 2021, the Company had approximately $11.2 million
in cash compared to $10.2 million of cash as of June 30, 2021, and
as of Nov. 9, 2021, the Company has approximately $10.2 million in
cash. The Company currently anticipates that future budget
expenditures will be approximately $10.7 million for the next 12
months, including approximately $8.7 million for clinical
activities, supportive research, and drug product. Alternatively,
if the Company decides to pursue a more aggressive plan with its
clinical trials, the Company will require additional sources of
capital during the fiscal year 2022 to meet its working capital
requirements for its planned clinical trials. Potential sources
for capital include grant funding for COVID-19 research and equity
financings. There can be no assurances that the Company will be
successful in receiving any grant funding for its programs.
The Company said this assessment is based on current estimates and
assumptions regarding our clinical development programs and
business needs. Actual working capital requirements could differ
materially from this above working capital projection.
"If we are unable to generate enough working capital from our
current or future financing agreements with Aspire Capital when
needed or secure additional sources of funding, it may be necessary
to significantly reduce our current rate of spending through
reductions in staff and delaying, scaling back or stopping certain
research and development programs, including more costly Phase 2
and Phase 3 clinical trials on our wholly-owned development
programs as these programs progress into later stage development.
Insufficient liquidity may also require us to relinquish greater
rights to product candidates at an earlier stage of development or
on less favorable terms to us and our stockholders than we would
otherwise choose in order to obtain up-front license fees needed to
fund operations. These events could prevent us from successfully
executing our operating plan," the Company said in the filing.
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1355250/000147793221007937/ipix_10q.htm
About Innovation Pharmaceuticals
Innovation Pharmaceuticals Inc. (IPIX) -- http://www.IPharmInc.com
-- is a clinical stage biopharmaceutical company developing a
portfolio of innovative therapies addressing multiple areas of
unmet medical need, including inflammatory diseases, cancer,
infectious disease, and dermatologic diseases.
Innovation reported a net loss of $13.87 million for the year ended
June 30, 2021, compared to a net loss of $6.65 million for the year
ended June 30, 2020. As of June 30, 2021, the Company had $14.30
million in total assets, $6.79 million in total liabilities, and
$7.51 million in total stockholders' equity.
INTERPACE BIOSCIENCES: Incurs $3.6 Million Net Loss in 3rd Quarter
------------------------------------------------------------------
Interpace Biosciences, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $3.56 million on $9.47 million of net revenue for the three
months ended Sept. 30, 2021, compared to a net loss of $6.23
million on $8.25 million of net revenue for the three months ended
Sept. 30, 2020.
For the nine months ended Sept. 30, 2021, the Company reported a
net loss of $11.21 million on $30.46 million of net revenue
compared to a net loss of $18.31 million on $22.75 million of net
revenue for the nine months ended Sept. 30, 2020.
As of Sept. 30, 2021, the Company had $40.31 million in total
assets, $32.42 million in total liabilities, $46.54 million in
preferred stock, and a total stockholders' deficit of $38.65
million.
"2021 has been a dynamic and meaningful year in the evolution of
Interpace," said Thomas Burnell, president and CEO. "Without the
hard work, dedication and commitment of our nearly 140 employees,
the loyalty of our customers and the patients they serve, and the
support of our investors and financial partners, our Company would
not be where it is today."
"We are incredibly excited to partner with Comerica Bank and
BroadOak Capital during this transformative period for Interpace
Biosciences. The $7.5 million credit facility with Comerica
provides the Company with working capital flexibility for our
fourth quarter and onward into Fiscal 2022. The term loan with
BroadOak allowed us to repay the bridge loan generously provided by
our private equity partners, Ampersand Capital and 1315 Capital, to
meet our financing needs earlier this year," continued Mr.
Burnell.
"In addition, I am pleased to announce that the Company has
executed a non-binding Term Sheet with 3K Limited Partnership to
enter into a standby purchase agreement whereby 3K will backstop an
approximate $30 million Rights Offering by the Company. We believe
this Rights Offering will be a cost-effective method to raise
capital while allowing existing shareholders to maintain their
proportional ownership in the Company and will be the catalyst
driving both internal and external growth as it is our goal to
achieve an annualized run rate of $100 million in revenue in 2023,"
stated Mr. Burnell.
"We are extremely pleased with the performance of our diagnostic
services through the third quarter of 2021. Overall, we
experienced significant revenue and gross profit growth while
reducing operating expenses as a percentage of revenue," stated Tom
Freeburg, CFO of Interpace. "We focused on and significantly
improved our billing and cash collection processes over the last
twelve months. This focus resulted in record cash collections for
the second consecutive quarter and allowed us to repay our 2020
COVID Medicare advance months ahead of schedule. While our pharma
services volume experienced a decline, we believe the investments
made earlier this year in our North Carolina lab will result in
improved operating results going into 2022," continued Mr.
Freeburg.
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1054102/000149315221027869/form10-q.htm
About Interpace
Headquartered in Parsippany, NJ, Interpace Biosciences f/k/a
Interpace Diagnostics Group, Inc. -- http://www.interpace.com--
offers specialized services along the therapeutic value chain from
early diagnosis and prognostic planning to targeted therapeutic
applications. Clinical services, through Interpace Diagnostics,
provides clinically useful molecular diagnostic tests,
bioinformatics and pathology services for evaluating risk of cancer
by leveraging the latest technology in personalized medicine for
improved patient diagnosis and management. Pharma services,
through Interpace Pharma Solutions, provides pharmacogenomics
testing, genotyping, biorepository and other customized services to
the pharmaceutical and biotech industries.
Interpace Biosciences reported a net loss of $26.45 million for the
year ended Dec. 31, 2020, compared to a net loss of $26.74 million
for the year ended Dec. 31, 2019. As of March 31, 2021, the
Company had $43.86 million in total assets, $30.22 million in total
liabilities, and $46.54 million in preferred stock, and a total
stockholders' deficit of $32.9 million.
Woodbridge, New Jersey-based BDO USA, LLP, the Company's auditor
since 2012, issued a "going concern" qualification in its report
dated April 1, 2021, citing that the Company has suffered operating
losses, has negative operating cash flows and is dependent upon its
ability to generate profitable operations in the future or obtain
additional financing to meet its obligations and repay its
liabilities arising from normal business operations when they come
due. In addition, the Company has been materially impacted by the
outbreak of a novel coronavirus (COVID-19), which was declared a
global pandemic by the World Health Organization in March 2020.
These conditions raise substantial doubt about its ability to
continue as a going concern.
JAKKS PACIFIC: Posts $36.4 Million Net Income in Third Quarter
--------------------------------------------------------------
Jakks Pacific, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing net income
of $36.38 million on $236.96 million of net sales for the three
months ended Sept. 30, 2021, compared to net income of $32.43
million on $242.29 million of net sales for the three months ended
Sept. 30, 2020.
For the nine months ended Sept. 30, 2021, the Company reported a
net loss of $2.74 million on $433.15 million of net sales compared
to a net loss of $2.84 million on $387.61 million of net sales for
the same period during the prior year.
As of Sept. 30, 2021, the Company had $409.12 million in total
assets, $345.35 million in total liabilities, $2.73 million in
preferred stock, and $61.02 million in total stockholders' equity.
Jakks Pacific stated, "The full impact of the COVID-19 outbreak
continues to evolve as of the date of this report. As such, it is
uncertain as to the full magnitude that the pandemic will have on
the Company's financial condition, liquidity, and future results of
operations. Management is actively monitoring the global situation
and the resulting impact on its financial condition, liquidity,
operations, suppliers, industry, and workforce. Given the daily
evolution of the COVID-19 outbreak and the global responses to curb
its spread, the Company is unable to estimate the effects of the
COVID-19 outbreak on its results of operations, financial
condition, and liquidity for fiscal years 2021 and 2022."
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001009829/000118518521001633/jakkspacif20210930_10q.htm
About Jakks Pacific
JAKKS Pacific, Inc. -- www.jakks.com -- is a designer, manufacturer
and marketer of toys and consumer products sold throughout the
world, with its headquarters in Santa Monica, California. JAKKS
Pacific's popular proprietary brands include Fly Wheels, Kitten
Catfe, Perfectly Cute, ReDo Skateboard Co, X-Power, Disguise, Moose
Mountain, Maui, Kids Only!; a wide range of entertainment-inspired
products featuring premier licensed properties; and C'est Moi, a
new generation of clean beauty.
Jakks Pacific reported a net loss of $14.14 million for the year
ended Dec. 31, 2020, compared to a net loss of $55.38 million for
the year ended Dec. 31, 2019. As of June 30, 2021, the Company had
$315.13 million in total assets, $318.77 million in total
liabilities, $2.40 million in preferred stock, and a total
stockholders' deficit of $6.04 million.
Los Angeles, California-based BDO USA, LLP, the Company's auditor
since 2006, included a "going concern" paragraph in its report
dated March 19, 2021, citing that the Company's primary sources of
working capital are cash flows from operations and borrowings under
its credit facility. The Company's cash flows from operations are
primarily impacted by the Company's sales, which are seasonal, and
any change in timing or amount of sales may impact the Company's
operating cash flows. The Company owes $124.5 million on its term
loan and has borrowing capacity under its credit facility of $37.3
million as of Dec. 31, 2020. During 2020, the Company reached an
agreement with its holders of its term loan and the holder of its
revolving credit facility, to amend the New Term Loan Agreement and
defer the Company's EBITDA covenant requirement until March 31,
2022 and reduced the trailing 12-month EBITDA requirement to $25.0
million. Based on the Company's operating plan, management believes
that the current working capital combined with expected operating
and financing cashflows to be sufficient to fund the Company's
operations and satisfy the Company's obligations as they come due
for at least one year from the financial statement issuance date.
K3D PROPERTY: Court OKs Cash Collateral Deal Thru Dec 31
--------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Tennessee,
Southern Division, has approved the stipulation entered into
between K3D Property Services, LLC and Truist Bank over the
Debtor's use of cash collateral.
As previously reported by the Troubled Company Reporter, the
parties agree that the Debtor may use cash collateral from the
expiration of the last period through December 31, 2021.
The Debtor will continue to make adequate protection payments to
Truist Bank at $5,700 per month, to be paid by the 15th day of each
month during this period.
A copy of the order is available at https://bit.ly/323Rbz1 from
PacerMonitor.com.
About K3D Property Services
K3D Property Services, LLC offers a variety of services, including
home remodeling, basement finishing, drywall installation and
finishing, tile installation, carpet installation, wall framing,
bathroom remodeling, kitchen remodeling, deck installation and
maintenance, interior and exterior painting, commercial painting,
wallpaper and popcorn ceiling removal, deck staining, concrete
floor coatings, and metal roof painting.
K3D Property Services filed a voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. E.D. Tenn. Case No. 19
15361) on Dec. 23, 2019. The petition was signed by Kenneth Morris,
its managing member. At the time of filing, the Debtor had
estimated $1 million to $10 million in both assets and
liabilities.
Judge Shelley D. Rucker oversees the case.
The Debtor tapped Farinash & Stofan and The Fox Law Corporation,
Inc. as bankruptcy counsel; The Law Offices of Stephan Wright PLLC
as special counsel; Lucove, Say & Co. as accountant; and Pointe
Commercial Real Estate, LLC as real estate broker.
KEVIN B. DEAN: U.S. Trustee Wins Sanctions Against Marcus Clegg
---------------------------------------------------------------
In the Chapter 11 case of Kevin B. Dean, the United States
Bankruptcy Court for the District of Maine granted, in part, the
U.S. Trustee's motion for sanctions.
The Court conducted hearings on October 28 and November 4, 2021, on
the U.S. Trustee's Motion for an Order Requiring Marcus Clegg to
Disgorge Fees and Disqualifying Marcus Clegg as Counsel to the
Debtor. The Motion was joined by Emile Clavet and opposed by the
Debtor.
Marcus Clegg received post-petition payments from Cecile Dean on
behalf of the Debtor and made a calculated decision not to disclose
those payments to the Court within the timeframe required by Fed.
R. Bankr. P. 2016(b). As a sanction for Marcus Clegg's admitted
failure to comply with Rule 2016(b), as well as its filing of false
monthly operating reports on the docket in this case, any fees and
expenses awarded to Marcus Clegg under the United States Bankruptcy
Code in the future will be reduced by $100,000, the Court held.
As of August 16, 2021, the aggregate amount of post-petition
payments by Cecile Dean to Marcus Clegg was $205,641. Marcus Clegg
is ordered to transfer $100,000 of the post-petition payments
received from Cecile Dean to the subchapter V trustee. The
subchapter V trustee is ordered to hold the $100,000 in a trust
account pending further Court order. As to the remainder of the
post-petition payments received from Cecile Dean, Marcus Clegg
shall hold them in a client trust account and may not apply them to
the Debtor's account or disburse them to any person (including
Cecile Dean), unless specifically authorized to do so by further
order of the Court.
The Court said it could deny all compensation to Marcus Clegg, in
addition to disqualifying the firm as counsel to the Debtor, given
the firm's failure to comply with its disclosure obligations. The
Court has not imposed those twin sanctions, however, for several
reasons:
-- Despite its actions (and failures) in this case, Marcus
Clegg has provided some valuable services to the Debtor.
-- Disqualification at this juncture may work a serious
hardship on the Debtor given the schedule for a contested
confirmation hearing on the Debtor's chapter 11 plan.
-- Marcus Clegg's fitness as counsel to a subchapter V debtor,
with the fiduciary status of a debtor-in-possession, is no longer a
relevant consideration given the Debtor's removal as a
debtor-in-possession.
The case is, In re Kevin B. Dean, Case No. 20-20427 (Bankr. D.
Maine).
A full-text copy of the Court's order dated November 4, 2021, is
available at https://tinyurl.com/x2rv4y3u from Leagle.com.
KTR GLOBAL: Dec. 14 Plan Confirmation Hearing Set
-------------------------------------------------
On Nov. 5, 2021, debtor KTR Global Partners, LLC, filed with the
U.S. Bankruptcy Court for the District of Arizona a Fourth
Amendment to Plan of Reorganization.
On Nov. 9, 2021, Judge Brenda K. Martin ordered that:
* Dec. 14, 2021, at 1:30 p.m. is the telephonic hearing within
which the Court will consider whether to confirm the Plan.
* Dec. 7, 2021, is fixed as the last day for any party
desiring to object to confirmation of the Plan to file a written
objection with the Court.
* Dec. 7, 2021, is fixed as the last day for any creditor
desiring to vote for or against confirmation of the Plan to
complete and sign a Ballot.
A copy of the order dated Nov. 9, 2021, is available at
https://bit.ly/3kBO9Z0 from PacerMonitor.com at no charge.
Attorneys for the Debtor:
Fennemore Craig, P.C.
Gerald L. Shelley
2394 East Camelback Rd., Suite 600
Phoenix, AZ 85016-3429
Telephone: (602) 916-5000
Email: gshelley@fclaw.com
About KTR Global Partners
KTR Global Partners, LLC owns and operates an indoor action sports
playground serving kids of all ages and abilities.
KTR Global Partners sought Chapter 11 protection (Bankr. Ariz. Case
No. 20-08282) on July 16, 2020. At the time of the filing, the
Debtor disclosed total assets of $1,294,450 and total liabilities
of $1,533,572. Judge Brenda K. Martin oversees the case.
Fennemore Craig, P.C., is the Debtor's legal counsel.
LAHAYE ENTERPRISES: Creditor Bound by Bankruptcy Plan Terms
-----------------------------------------------------------
Daniel Gill of Bloomberg Law reports that the Fifth Circuit ruled
that a bankrupt store's creditor is bound by the terms of the
store's Chapter 11 plan and can't pursue the same claims in the
store owners' subsequent personal bankruptcy case.
LaHaye Enterprises LLC, a grocery store operator in rural
Louisiana, filed Chapter 11 following business struggles. Its
court-approved Chapter 11 plan surrendered the store to a creditor,
New Falls Corp., for a value of $225,000 to be applied against the
$325,000 debt.
LaHaye Enterprises' owners -- Richard and Cindy LaHaye --
guaranteed the loan, putting up their house as additional
collateral.
"We recognize that fixing the value of surrendered assets at the
time of
confirmation subjects creditors to the risk that the assets may
decrease in value before they are transferred. See Sandy Ridge,
881 F.2d at 1354 (holding that a bankruptcy court may value real
estate rather than wait to see the price of a foreclosure sale).
Yet that valuation is "an integral part of the bankruptcy process."
And the risk swings both ways. In the years since the LLC plan
was confirmed, the Store's value could have increased, due to a new
highway nearby or foot traffic from new businesses. In that
situation, the 2015 valuation would still bind both parties and
New Falls would enjoy the benefit of the post-confirmation price
fluctuation," the Fifth Circuit ruling said.
"Under section 1141, New Falls is bound by the provision of the
LLC's confirmed bankruptcy plan, which requires it to accept the
Grocery Store in exchange for a fixed-value credit against the
secured debt. New Falls cannot use the LaHayes' personal
bankruptcy to relitigate those issues."
A copy of the Decision is available at
https://www.ca5.uscourts.gov/opinions/pub/19/19-30795-CV0.pdf
About LaHaye Enterprises
LaHaye Enterprises LLC, a grocery store operator in rural
Louisiana, filed a Chapter 11 petition (Bankr. W.D. La. Case No.
15-51554) on Dec. 3, 2015. The Debtor is represented by H. Kent
Aguillard, Esq.
LINDSAY YORK: Seeks to Hire Heller, Draper & Horn as New Counsel
----------------------------------------------------------------
Lindsay York Fantaci, M.D., LLC seeks approval from the U.S.
Bankruptcy Court for the Eastern District of Louisiana to employ
Heller, Draper & Horn, LLC to substitute for Garner & Munoz.
The firm's services include:
i. advising the Debtor with respect to its rights, powers and
duties in the continued operation and management of its business
and property;
ii. preparing, with consultation with the appointed SubChapter
V trustee, and pursuing confirmation of a plan of reorganization;
iii. preparing legal documents and reviewing all financial
reports to be filed;
iv. advising the Debtor concerning and preparing responses to
applications, motions, pleadings, notices and other documents which
may be filed by other parties;
v. representing the Debtor in court proceedings, initial
debtor interview, Section 341 meeting, and Section 1188 status
conference;
vi. representing the Debtor in connection with the use of cash
collateral or obtaining post-petition financing;
vii. advising the Debtor concerning and assisting in the
negotiation and documentation of financing agreements, cash
collateral orders and related transactions;
viii. investigating the nature and validity of liens asserted
against the property of the Debtor, and advising the Debtor
concerning the enforceability of said liens;
ix. investigating and advising the Debtor concerning, and
taking such action as may be necessary to collect income and assets
in accordance with applicable law, and the recovery of property for
the benefit of the estate;
x. advising and assisting the Debtor in connection with any
potential property dispositions;
xi. advising the Debtor concerning executory contracts and
unexpired lease assumptions, assignments and rejections and lease
restructuring, and recharacterizations;
xii. assisting the Debtor in reviewing, estimating and resolving
claims asserted against the estate;
xiii. commencing and conducting litigation (not performed by
other firms) necessary and appropriate to assert rights held by the
Debtor, protecting assets of the Debtor's estate or otherwise
further the goal of completing the Debtor's successful
reorganization; and
xiv. performing all other necessary legal services.
The firm's hourly rates for bankruptcy work range from $425 to $325
for attorneys. Paralegals charge $125 per hour.
As disclosed in court filings, Heller is a "disinterested person"
as that phrase is defined in Sec. 101(14) of the Bankruptcy Code,
as modified by Sec. 1107(b) of the Bankruptcy Code.
The firm can be reached through:
Greta M. Brouphy, Esq.
Heller, Draper & Horn, LLC
215 N. Columbia Street
Covington, LA 70433
Phone: (504) 299-3300
Email: gbrouphy@hellerdraper.com
About Lindsay York Fantaci MD
Lindsay York Fantaci, M.D., LLC, a Marrero, La.-based medical group
practice that specializes in pediatrics, filed its voluntary
petition for Chapter 11 protection (Bankr. E.D. La. Case No.
21-11186) on Sept. 30, 2021, listing up to $500,000 in assets and
up to $10 million in liabilities. Judge Meredith S. Grabill
oversees the case. Greta M. Brouphy, Esq., at Heller, Draper &
Horn, LLC represents the Debtor as legal counsel.
LTI HOLDINGS: S&P Rates New 1st-Lien/Delayed-Draw Term Loans 'B-'
-----------------------------------------------------------------
S&P Global Ratings assigned its 'B-' issue-level rating and '4'
recovery rating to LTI Holdings Inc.'s proposed $125 million
first-lien term loan and $75 million delayed-draw term loan due in
2026. The '4' recovery rating indicates its expectation for average
recovery (30%-50%; rounded estimate: 45%) in the event of a payment
default.
S&P said, "The proceeds will be used to fund acquisitions, which in
our view are in line with the company's strategic vision. LTI
maintains an aggressive financial policy relative to similarly
rated peers. Through the first nine months of 2021, LTI generated
lower S&P Global Ratings-adjusted EBITDA than we projected, driven
by cost inflation and logistics issues. As a result, leverage
remains elevated for the rating. Moreover, near-term supply chain
headwinds could keep leverage high in the short term. Nonetheless,
LTI maintains adequate liquidity, in our view. As of Sept. 30,
2021, the company had $112 million of cash and cash equivalents, as
well as full availability on its recently upsized $135 million
revolving credit facility.
"Our other ratings on LTI are unchanged, incorporating our view
that LTI should continue healthy top-line expansion as a result of
its exposure to blue-chip customers across industries. Our rating
also incorporates the company's high debt load and acquisitive
nature. LTI provides specialty material-based thermal, vibration,
and electromagnetic interference management and
environmental-sealing solutions. Its moderate scale, large customer
concentration (its top 10 customers account for more than 40% of
its 2020 revenue), and modest market share in the highly fragmented
$15 billion custom fabricated components industry remain key
considerations in our business risk assessment."
Ratings List
LTI HOLDINGS INC.
Issuer Credit Rating B-/Stable/--
NEW RATING
LTI HOLDINGS INC.
Senior Secured
US$125 mil incremental 1st lien term bank ln
due 07/24/2026 B-
Recovery Rating 4(45%)
US$75 mil delayed draw incremental 1st lien
term bank ln due 07/24/2026 B-
Recovery Rating 4(45%)
LUCID ENERGY: S&P Affirms 'B' ICR, Outlook Positive
---------------------------------------------------
S&P Global Ratings affirmed its 'B' issuer credit rating on Lucid
Energy Group II Borrower LLC. The outlook is 'positive'.
S&P said, "At the same time, we assigned a 'B' issue-level rating
and '3' recovery rating to the proposed term loan B. The '3'
recovery rating indicates our expectation for meaningful (50%-70%;
rounded estimate: 60%) recovery in the event of a default.
"The positive outlook reflects our expectation of elevated leverage
over the next few quarters, which will be offset by our expectation
of growing cash flows and volumes through 2022. We forecast Lucid
will be able to reduce its adjusted debt-to-EBITDA ratio to well
below 4x in 2022, assuming no additional debt-financed
distributions.
"The dividend recapitalization immediately increases adjusted
leverage metrics over the near term. We now forecast 2021 adjusted
debt to EBITDA of approximately 4.5x. That said, we believe the
volumetric growth behind the Lucid system will support an
improvement in cash flows and volumes in 2022. Lucid has
demonstrated a strong record of delivering on guidance and bringing
online additional processing capacity in a timely manner, which
somewhat offsets this risk. We believe the company can achieve this
milestone again, as it plans to bring online two additional
processing plants in the second half of 2022 to meet the growing
volume demand. We believe there is a clear path to Lucid achieving
adjusted debt to EBITDA well below 4x in 2022, assuming no
additional debt-financed distributions."
Lucid's asset footprint is located in Eddy and Lea counties, New
Mexico in the Northern Delaware Basin, which continues to
demonstrate strong volumetric potential. Lucid's current volume
flows are approximately 1,200 million cubic feet per day (mmcf/d)
supported by a highly accretive counterparty base. More than 75% of
Lucid's 2021 volumes are produced by investment-grade
counterparties including EOG Resources Inc., Devon Energy Corp.,
EXXON Corp., and ConocoPhillips who combine for approximately 70%
of expected volumes for 2021. The company's asset footprint is
evolving as Lucid recently sold the Artesia assets, which included
roughly 1,450 miles of pipeline, 10,274 horsepower of compression
and 40 mmcf/d of processing capacity. Because of the rapid volume
growth behind the system, Lucid expects to bring online two
additional processing plants in 2022 to meet its growing volumetric
flows. Red Hills VI (Lea County) is a 230 mmcf/d processing plant,
which is expected to be online in the third quarter of 2022 and
Road Runner II (Eddy County), which is a 230 mmcf/d, which is
expected to be online in the fourth quarter of 2022. By year-end,
S&P envisions the Lucid system could be at or near full
utilization, with flows in the 1,500-1,600 mmcf/d range.
S&P said, "Given the rapid volumetric growth of Lucid, we now
forecast the company could achieve an adjusted EBITDA base in the
$450 million-$500 million range in 2022 and an adjusted
debt-to-EBTIDA ratio in the 3x-3.5x range. Furthermore, we expect
the company to produce over $100 million of free operating cash
flow in 2022, which could support additional distributions to
sponsors or capital spending initiatives.
"The positive outlook reflects our view that despite the elevated
leverage from the dividend recapitalization, we expect growing cash
flows and volumes through 2022. Our forecast assumes Lucid will
achieve an adjusted debt to EBITDA ratio well below 4x in 2022.
"We could revise the outlook to stable if we expect the company to
pursue a more aggressive financial policy such that adjusted debt
to EBITDA was sustained above 5.0x. This could occur from further
debt-financed transactions or from lower-than-expected volumes.
"We could consider raising the rating if Lucid's realizes improved
cash flows and demonstrates a track record of sustaining adjusted
leverage below 5.0x. This could occur if the company continues to
operate well and does not take additional debt financed
distributions."
MASTEC INC: S&P Alters Outlook to Positive, Affirms 'BB+' LT ICR
----------------------------------------------------------------
S&P Global Ratings affirmed its 'BB+' long-term issuer credit
rating and revised its outlook to positive from stable on
U.S.-based MasTec Inc. At the same time, S&P raised its issue-level
rating on the company's senior unsecured notes to 'BB+' from 'BB',
following the refinancing of the company's credit facility.
The positive outlook reflects the potential for a higher rating
over the next 12 months if MasTec can continue to execute on its
projects with good margins while adhering to financial policies
that are supportive of an investment-grade credit rating.
S&P expects MasTec's operating performance to benefit from
end-market demand. MasTec will likely benefit from demand in its
communications, clean energy and infrastructure, and electrical
transmission and distribution end markets. This provides good
revenue visibility and supports our expectation for top-line growth
in 2021. About half of the company's backlog relates to its
communications segment. In general, this segment should benefit
from customers' accelerated 5G wireless network spending. In the
company's clean energy and infrastructure segment, MasTec should
benefit from power generation transitioning to more wind and solar.
MasTec will likely see demand in its electrical transmission and
distribution end market as clean energy trends require transmission
investment, increasing fire hardening and storm hardening, as well
as smart grid and grid security initiatives, for example. While a
reduction in commodity demand has reduced near-term capital
spending for its customers in the oil and gas segment, MasTec's
strong backlog provides good revenue visibility in 2021 and into
2022.
MasTec's exposure to multiple end markets provides revenue
diversity and some protection against sector-specific weakness. In
S&P's view, MasTec's earnings and cash flow can be highly volatile
due to the project-based nature of its business, as well as the
cyclicality of some of its end markets. In addition to its exposure
to the communications end market, the company is also one of the
largest pipeline contractors in North America. While MasTec's
business continues to expand, its mix continues to diversify away
from oil and gas. MasTec's end market diversity should offset some
weakness if one of its industries experiences a downturn.
Nevertheless, the demand for MasTec's services has historically
declined following periods of macroeconomic weakness as customers
reduce capital spending.
The company has some customer concentration as its top ten
accounted for about 58% of revenues in 2020. MasTec also operates
in the highly fragmented engineering and construction (E&C)
industry, completing most of its work outdoors, thus its business
is often seasonal and can be disrupted by severe weather.
Additionally, the timing of revenue from construction and
installation projects can be delayed due to regulatory or
customer-specific factors. This can lead to earnings volatility and
create uncertainty despite its good backlog.
MasTec's acquisition and share repurchase strategy may preclude
further deleveraging. S&P assumes the company will continue to make
bolt-on acquisitions and share repurchases with free cash flow.
MasTec has spent about $1.3 billion on acquisitions during the past
10 years. These have played a significant role in its revenue
expansion and improving end-market diversity over the past decade.
We also assume the company will remain opportunistic with
repurchases, which were about $700 million during that timeframe.
S&P's base-case scenario assumes MasTec's approach to acquisitions
and share repurchases is disciplined and that its debt to EBITDA
remains below 2x.
S&P's positive outlook on MasTec reflects its expectation that
continued top-line growth and project efficiencies will allow the
company to maintain debt to EBITDA below 2x.
Within the next 12 months, S&P could raise its ratings on MasTec if
company to demonstrate conservative financial policies commensurate
with an investment-grade rating:
-- If operating performance continues to improve, with good
project execution and profitability; and
-- The company sustains a free operating cash flow (FOCF)-to-debt
ratio of more than 40% and adjusted debt to EBITDA approaching
1.5x.
Over the next 12 months, S&P could revise its outlook to stable if
MasTec's end markets unexpectedly face a cyclical downturn or
debt-financed acquisitions or share repurchases results in:
-- Its FOCF-to-debt ratio to approach 15% on a sustained basis;
or
-- If debt to EBITDA approaches 3x and we do not anticipate
improvement.
NATIONAL TRACTOR: Wins Cash Collateral Access Thru Dec 17
---------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois,
Eastern Division, has authorized National Tractor Parts, Inc. to
use the cash collateral of First Midwest Bank and eCapital
Commercial Finance Corp., on an interim basis through December 17,
2021, in accordance with the budget, with a 10% variance.
As of the Petition Date, the Debtor owes First Midwest Bank
$1,052,387, pursuant to loan agreements, promissory notes, security
agreements, and other documents evidencing the Indebtedness
executed by the Debtor in favor of First Midwest Bank. The Bank
asserts that pursuant to Loan Documents, the Debtor granted it
perfected security interest and lien on the property located at
12127A Galena Road, Plano, Illinois 60545, as well as all of the
Debtor's assets, together with the proceeds thereon, some of which
constitutes "cash collateral" within the meaning of Section 363(a)
of the Bankruptcy Code.
The Debtor has, pursuant to the Court order, sold its real estate
c/k/a 12127A Galena Rd, Plano, Ill. First Midwest Bank received
$667,989 of the proceeds, reducing the balance of its secured
claim. First Midwest Bank retains its pre-petition lien on its
remaining collateral.
As of the Petition Date, the Debtor owes eCapital $99,371, pursuant
to a Master Purchase and Sale Agreement, security agreements, and
other documents evidencing the Indebtedness executed by the Debtor
in favor of eCapital. Pursuant to the Factoring Documents, the
Debtor granted eCapital a perfected security interest and junior
lien all of the Assets of the Debtor other than the Plano Property
together with the proceeds thereon some of which constitutes Cash
Collateral, except for the accounts receivable for which eCapital
has a valid first lien.
Other potential lien holders, whose liens are subordinate to First
Midwest and eCapital, are:
a) U.S. Small Business Administration
b) First National Bank of Ottawa
c) Echo Capitol (a/k/a/ Snap Advances)
d) Berco of America
e) Steel Tracks, Inc.
The Court says the creditors will be granted a replacement lien in
the same priority that existed on the date of filing, without
prejudice to any determinations regarding lien priority or lien
avoidance in the future. The priority of e-Capital as to the
Debtor's account receivables, and the replacement lien granted to
e-Capital shall be of first priority as to the accounts
receivable.
As adequate protection for the Debtor's use of cash collateral, the
Prepetition Secured Lenders are secured by a lien to the same
extent, priority and validity as existed prior to the Petition
Date. The Prepetition Secured Lenders will receive a security
interest in and replacement lien upon all of the Debtor's property
and the proceeds thereof, to the extent actually used and for the
diminution, if any, in the value of the Prepetition Secured
Lenders' Collateral.
In return for the Debtor's continued interim use of Cash
Collateral, First Midwest Bank is granted adequate protection
payments in the amount of $5,000 per month until further Court
order to protect against any diminution in value of the
collateral.
eCapital is granted adequate protection payments in the amount of
$500 per month until further Court order to protect against any
diminution in value of the collateral. The Prepetition Secured
Lenders will receive an administrative expense claim pursuant to
Section 507(b) of the Bankruptcy Code.
The Prepetition Secured Lenders are also granted adequate
protection for their secured interests in substantially all of the
Debtor's assets, including Cash Collateral equivalents and the
Debtor's cash and accounts receivable, among other collateral to
the extent and validity as held prepetition and subject to the
terms of the Subordination Agreement between the Prepetition
Secured Lenders.
The Debtor's failure to maintain insurance coverage and pay taxes
under as provided in the Order, and failure to cure same within 10
business days after notice, will constitute an event of default
under the Cash Collateral Order.
A further hearing on the use of Cash Collateral is scheduled for
December 15 at 10:30 a.m.
A copy of the order is available for free at https://bit.ly/31ZRHhp
from PacerMonitor.com.
About National Tractor Parts, Inc.
National Tractor Parts, Inc. -- https://www.ntparts.com/ -- is a
family-owned business in the heavy equipment parts industry.
National Tractor Parts sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ill. Case No. 20-20833) on November
30, 2020. In the petition signed by Charles H. Gunier Jr.,
president, the Debtor disclosed up to $1,844,491 in assets and up
to $3,098,844 in liabilities.
Judge David D. Cleary oversees the case.
Richard G. Larsen, Esq., at Springer Brown, LLC is the Debtor's
counsel.
NEONODE INC: Incurs $1.7 Million Net Loss in Third Quarter
----------------------------------------------------------
Neonode Inc. filed with the Securities and Exchange Commission its
Quarterly Report on Form 10-Q disclosing a net loss attributable to
the company of $1.72 million on $962,000 of total revenues for the
three months ended Sept. 30, 2021, compared to a net loss
attributable to the company of $1.64 million on $1.50 million of
total revenues for the three months ended Sept. 30, 2020.
For the nine months ended Sept. 30, 2021, the Company reported a
net loss attributable to the company of $4.95 million on $4.35
million of total revenues compared to a net loss attributable to
the company of $4.26 million on $3.55 million of total revenues for
the nine months ended Sept. 30, 2020.
As of Sept. 30, 2021, the Company had $10.23 million in total
assets, $3.16 million in total liabilities, and $7.07 million in
total stockholders' equity.
CEO'S COMMENTS
"During the third quarter our revenue was negatively impacted by
COVID-19 driven lock-downs in our key Asian markets. The impact of
these lock-downs was exacerbated by global supply chain constraints
due to semiconductor component shortages, which resulted in a
reduction in license fees earned from our printer and automotive
customers. These developments resulted in a temporary slowdown in
the progress we experienced in the first half of the year where we
saw increasing traction with elevator and kiosk customers using our
Touch Sensor Modules ("TSMs") and stable license revenues. During
this renewed lock-down phase, sales of our TSMs have been
negatively impacted because our partners who are providing retrofit
solutions have been unable to freely access their customer
locations to install their contactless touch kits. Some elevator
and kiosk projects have also been delayed due to of supply-chain
issues related to semiconductor component shortages," Dr. Urban
Forssell, chief executive officer of Neonode, commented.
"We continue to build our sales pipeline with an increasing number
of development and pilot projects underway for elevators plus an
array of public space kiosks, such as contactless touch systems in
airport and retail self-check-in/out kiosks, and our sales pipeline
continues to improve. We are pleased to see that these sales
efforts are now being turned into commercial decisions to install
our solutions with the next step to place purchase orders. Asian
customers are leading the way, but we see increasing interest in
our contactless touch technology and our TSM solutions from
European and North American customers as well," Dr. Forssell said.
"To ensure we maintain ample liquidity during this current period
of market uncertainty related to the ongoing pandemic, in October
2021, we sold an aggregate of 1,808,000 shares of our common stock
in a registered direct offering to certain Swedish and European
investors, which, combined with sales under our existing
at-the-market facility provided approximately $14.5 million of
cash, net of placement agent fees and other offering expenses. The
net proceeds will be used for continued investments in sales and
marketing to create greater awareness and support for the expected
growth of our TSM production volumes. We believe we are now well
capitalized to navigate the current headwinds and continue to grow
the company and increase shareholder value," Dr. Forssell
concluded.
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/87050/000121390021057980/f10q0921_neonodeinc.htm
About Neonode
Neonode Inc. (NASDAQ:NEON) -- http://www.neonode.com-- develops
user interface and optical interactive touch and gesture solutions.
Its patented technology offers multiple features including the
ability to sense an object's size, depth, velocity, pressure, and
proximity to any type of surface.
Neonode reported a net loss attributable to the Company of $5.6
million for the year ended Dec. 31, 2020, compared to a net loss
attributable to the Company of $5.30 million for the year ended
Dec. 31, 2019. As of June 30, 2021, the Company had $11.86 million
in total assets, $3.54 million in total liabilities, and $8.32
million in total stockholders' equity.
NOVABAY PHARMACEUTICALS: Completes Acquisition of DERMAdoctor
-------------------------------------------------------------
NovaBay Pharmaceuticals, Inc. completed its acquisition of
DERMAdoctor, LLC, a Missouri limited liability company.
DERMAdoctor is an omni-channel skincare company that was formed in
1998 and is primarily focused on the creation of products that are
designed to target common skin concerns, ranging from aging and
blemishes to dry skin, perspiration and keratosis pilaris.
DERMAdoctor currently sells over 30 products under lines that
include Ain't Misbehavin', Calm Cool + Corrected, Kakadu C, KP
Duty, and Wrinkle Revenge and sells its products through major
retailers such as Macy's, QVC, Costco, digital beauty retailers
such as SkinStore and Amazon, and its own website.
The acquisition was consummated pursuant to a membership unit
purchase agreement, dated as of Sept. 27, 2021, by and among (i)
NovaBay, (ii) DERMAdoctor, (iii) Dr. Audrey Kunin and Dr. Jeff
Kunin; (iv) Papillon Partners, Inc., a Missouri corporation that is
owned by the Founders; and (v) Midwest Growth Partners, L.L.L.P.,
an Iowa limited liability limited partnership ("MGP" and together
with Papillon, the "Sellers"). As a result of the acquisition,
DERMAdoctor became a wholly-owned subsidiary of NovaBay. Pursuant
to the Purchase Agreement, NovaBay acquired 100% of the membership
units of DERMAdoctor from the Sellers for a closing purchase price
of $12.0 million (as adjusted for certain indebtedness, transaction
expenses and cash of DERMAdoctor at closing as set forth in the
Purchase Agreement) and potential future earn out payments of up to
an aggregate of $3.0 million over a period of two calendar years
post-closing. At the closing, an aggregate amount of $1.2 million
of the Closing Cash Consideration was deposited into an escrow
account where it is being held for 12 months after the closing to
secure certain payment and indemnification obligations of
DERMAdoctor, the Founders and the Sellers, as applicable and in
accordance with the terms of the Purchase Agreement. The Sellers
are entitled to an earn out payment of up to $1.5 million after
Closing for each of the 2022 and 2023 calendar years (or an
aggregate $3.0 million) if the legacy business of DERMAdoctor
achieves certain contribution margin targets each year conditioned
upon the Founders' continued employment with DERMAdoctor (except if
either of the Founders are Terminated Without Cause or terminated
as a result of death or disability, as further described below).
If earned, the Sellers may elect for the Earn Out Payments to be
paid in cash or unregistered shares of NovaBay's common stock,
subject to certain restrictions.
NovaBay funded the Closing Cash Consideration through its working
capital and the additional capital raised pursuant to a private
placement of the NovaBay's Series B Non-Voting Preferred Stock, par
value $0.01 per share, and warrants exercisable into shares of
NovaBay's common stock, par value $0.01 per share. The Private
Placement was completed on Nov. 2, 2021, where NovaBay received
aggregate gross proceeds of $15.0 million.
In connection with the completion of the acquisition of
DERMAdoctor, on Nov. 5, 2021, Drs. Audrey Kunin and Jeff Kunin were
appointed to serve as DERMAdoctor's chief product officer and
president, respectively. Drs. Audrey Kunin and Jeff Kunin each
entered into an employment agreement to serve in their respective
roles with DERMAdoctor on Nov. 5, 2021, which agreements became
effective immediately.
Dr. Audrey Kunin, age 62, co-founded DERMAdoctor and has served as
the chief creative officer of DERMAdoctor since March 2018 and as
the chief executive officer and its predecessor since 1998. Dr.
Audrey Kunin graduated from Ohio State University in December 1980
and received her M.D. at the Medical College of Ohio in June 1985.
She received her postgraduate training in Dermatology at the
Medical College of Virginia after serving as Chief Resident in July
1989. She is a fellow of the American Academy of Dermatology and
formerly served as an Assistant Clinical Instructor of Dermatology
at the University of Kansas School of Medicine.
Dr. Jeff Kunin, age 59, co-founded DERMAdoctor and has served as
the president and chief executive officer of DERMAdoctor since
March 2018. Dr. Jeff Kunin served as the Chairman of the
Department of Radiology at Saint Luke's Hospital in Kansas City
from 2007 to 2017. He graduated college with a B.S. degree in
Biochemistry and Cell Biology from the University of California,
San Diego. He then graduated medical school and earned his M.D.
from the University of Texas Medical Branch in Galveston, Texas.
Then he completed a residency in diagnostic radiology at the
Medical College of Virginia and Henry Ford Hospital. Subsequently,
he completed a fellowship in body imaging at the University of
Michigan Hospitals. Dr. Jeff Kunin received his MBA degree from
Washington University in St. Louis Olin School of Business.
The Employment Agreements provide for at-will employment and a
two-year term commencing on Nov. 5, 2021. The Employment
Agreements provide for an annual base salary for each of Dr. Audrey
Kunin and Dr. Jeff Kunin of $200,000 and $150,000, respectively.
Additionally, Dr. Audrey Kunin's Employment Agreement includes an
equity grant of 300,000 performance restricted stock units and a
stock option award of 150,000 shares, subject to approval by the
Board of Directors. If approved, the vesting of the Performance
RSUs will be tied to three categories of performance goals to be
achieved during the performance period, which will be equally
weighted at the end of the performance period: (1) 1/3 of the
Performance RSUs will be earned if NovaBay's revenue meets a
threshold amount for a trailing 12-month period; (2) 1/3 of the
Performance RSUs will be earned if NovaBay achieves a threshold
amount of cash flow for at least two consecutive quarters; and (3)
1/3 of the Performance RSUs will be earned if NovaBay achieves a
threshold market capitalization for twenty consecutive trading
days. If approved, the Options will vest over a two year period
(with 50% of the options vesting on the one-year anniversary of Dr.
Audrey Kunin's first day of employment and the remaining 50% of the
Options vesting on the two year anniversary of Dr. Audrey Kunin's
employment immediately prior to the expiration of the term of her
Employment Agreement). Dr. Jeff Kunin's Employment Agreement does
not provide for equity awards.
The Employment Agreements also provide each of Dr. Audrey Kunin and
Dr. Jeff Kunin with the opportunity to earn an annual performance
bonus in an amount up to 100% and up to 35%, respectively, of their
respective Base Salary. For Dr. Audrey Kunin's Annual Bonus, 60%
of the total amount of her Annual Bonus will be determined by the
Board in its sole discretion, based upon the following factors: (i)
the fulfillment, during the relevant year, of specific milestones
and tasks delegated, for such year, to Dr. Audrey Kunin as set by
Dr. Audrey Kunin and NovaBay and/or its authorized representative;
(ii) the evaluation of Dr. Audrey Kunin by NovaBay and/or its
authorized representative; (iii) DERMAdoctor's financial, product
and expected progress and (iv) other pertinent matters relating to
DERMAdoctor's business and valuation. Dr. Audrey Kunin will also
be entitled to the remaining portion of her Annual Bonus of up to
40% of her Base Salary, as considered and approved by NovaBay's
Board of Directors in its sole discretion, upon meeting certain
performance metrics (i.e., if the Contribution Margin exceeds the
FY2022 Target Contribution Margin or the FY2023 Target Contribution
Margin for each of the Year 1 Earn Out Period or the Year 2 Earn
Out Period, respectively, with each of these terms as defined in
the Purchase Agreement). For Dr. Jeff Kunin's Annual Bonus, 100%
of the total amount of his Annual Bonus 35% of his Base Salary will
be considered and approved by NovaBay's Board of Directors in its
sole discretion, upon the Performance Metrics being met. Any bonus
to Dr. Audrey Kunin or Dr. Jeff Kunin will be payable within 74
days following the end of the year for which their respective
Annual Bonus was earned. Upon the mutual agreement of Dr. Audrey
Kunin or Dr. Jeff Kunin, as applicable, and NovaBay's Board of
Directors, any or all of the Annual Bonus may be paid in the form
of equity compensation. Any such equity compensation will be
issued from NovaBay's equity incentive plan, and will be fully
vested upon payment.
In the event that Dr. Audrey Kunin or Dr. Jeff Kunin is Terminated
For Cause (as defined in the Employment Agreement) or such
employment is terminated due to death or disability, she or he, as
the case may be, will be entitled to any earned but unpaid wages or
other compensation (including reimbursements of his outstanding
expenses and unused vacation) earned through the termination date.
Further, in the event that Dr. Audrey Kunin or Dr. Jeff Kunin is
Terminated For Cause, the Sellers will no longer be entitled to the
Earn Out Payments. In the event that Dr. Audrey Kunin or Dr. Jeff
Kunin is Terminated Without Cause (as defined in the Employment
Agreement), she or he, as the case may be, will, subject to her or
his execution of a release of claims in favor of NovaBay, be
entitled to an amount equal to Dr. Audrey Kunin's or Dr. Jeff
Kunin's, as applicable, annualized Base Salary in effect on the
date of separation from service plus the full target Annual Bonus
percentage of the then current fiscal year (with it deemed that all
performance goals have been met at 100% of budget or plan), which
will be paid in 12 equal consecutive monthly installments. The
Severance Amount will be in addition to Dr. Audrey Kunin's or Dr.
Jeff Kunin's, as applicable, earned wages and other compensation
(including reimbursements of her or his outstanding expenses and
unused vacation) through the date her or his employment is
terminated from DERMAdoctor. If Dr. Audrey Kunin or Dr. Jeff Kunin
is Terminated Without Cause or terminated as a result of death or
disability, the Sellers will remain entitled to the Earn Out
Payments.
Moreover, in the event of either a Termination Without Cause, and
subject to her or his execution of a Release, all outstanding
equity awards then held by Dr. Audrey Kunin or Dr. Jeff Kunin, as
applicable, will be subject to full accelerated vesting on the date
of termination, and the exercise period shall be extended to three
years from the date of termination.
Separately, pursuant to the Purchase Agreement, at closing, NovaBay
entered into a Side Letter with Dr. Audrey Kunin to provide for Dr.
Audrey Kunin's appointment to NovaBay's Board of Directors as a
Class I director as soon as reasonably practicable following
closing and in no event later than NovaBay's 2022 annual
stockholder meeting, with such appointment subject to Dr. Audrey
Kunin (i) providing customary director onboarding documentation for
purposes of assessing eligibility and independence and for purposes
of required disclosure, (ii) being qualified to serve as a director
under the General Corporation Law of the State of Delaware and
stock exchange rules and listing standards, (iii) satisfying the
requirements of NovaBay's Corporate Governance Guidelines, Code of
Conduct & Ethics and Insider Trading Policy, and (iv) agreeing to
serve on NovaBay's Board of Directors at the time of nomination.
About Novabay
Headquartered in Emeryville, California, NovaBay Pharmaceuticals,
Inc. -- http://www.novabay.com-- is a biopharmaceutical company
focusing on commercializing and developing its non-antibiotic
anti-infective products to address the unmet therapeutic needs of
the global, topical anti-infective market with its two distinct
product categories: the NEUTROX family of products and the
AGANOCIDE compounds. The Neutrox family of products includes
AVENOVA for the eye care market, CELLERX for the aesthetic
dermatology market, and NEUTROPHASE for wound care market.
Novabay reported a net loss attributable to common stockholders of
$11.04 million for the year ended Dec. 31, 2020, compared to a net
loss attributable to common stockholders of $10.48 million for the
year ended Dec. 31, 2019. As of Sept. 30, 2021, the Company had
$12.24 million in total assets, $2.87 million in total liabilities,
and $9.36 million in total stockholders' equity.
NTH SOLUTIONS: Wins Cash Collateral Access Thru Dec 13
------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Pennsylvania
has authorized Nth Solutions, LLC to use cash collateral during the
period from the Petition Date through December 13, 2021 to pay for
its reasonable and necessary operating expenses.
The approved budget provided for $78,440 in expenses for the
interim period. The Debtor's authority to use the cash collateral
may be extended for an additional four weeks upon filing with the
Court of an amended budget that has been approved by the lender,
Bryn Mawr Trust.
To the extent of any diminution in value of the Lender's
prepetition cash collateral, the Lender is granted valid and
perfected postpetition replacement liens on the Debtor's assets in
which the Lender holds a prepetition lien or security interest. The
Replacement Liens will have the same priority and validity as the
Lender's pre-petition security interests and liens.
A further hearing on the Debtor's use of cash collateral will be
held on December 8 at 11 a.m.
A copy of the order is available for free at https://bit.ly/3kB6ghQ
from PacerMonitor.com.
About Nth Solutions
Nth Solutions, LLC -- https://nth-solutions.com/ -- operates a
facility located at 15 East Uwchlan Avenue in Exton, Pa., where it
manufactures electronic and mechanical precision devices. In
addition to its own product line, Nth Solutions also works with its
clients using a proprietary market-driven methodology in order to
produce additional "state-of-the-art" products.
Nth Solutions sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. E.D. Pa. Case No. 21-10782) on March 26, 2021. In the
petition signed by Susan Springsteen, managing partner and member,
the Debtor estimated less than $50,000 in assets and liabilities of
$1 million to $10 million.
Judge Eric L. Frank oversees the case.
Maschmeyer Karalis P.C. represents the Debtor as counsel.
OFS INT'L: Franklin Mountain Steps Down as Committee Member
-----------------------------------------------------------
The U.S. Trustee for Region 7 disclosed in a court filing that
Franklin Mountain Energy, LLC resigned from the official committee
of unsecured creditors in the Chapter 11 cases of OFS
International, LLC and its affiliates.
The remaining members of the committee are:
1. Schouest Bamdas Soshea & BenMaier PLLC
1001 McKinney, Suite 1400
Houston, TX 77002
Attention: M. Lane Lowrey
Phone: 713-295-1654
E-mail: llowrey@sbsblaw.com
2. The Hammond Law Firm
550 Post Oak Blvd., Suite 580
Houston, TX 77027
Attention: William D. Hammond
Phone: 713-253-9969
E-mail: dhammond@hlftx.com
About OFS International
OFS International, LLC is a provider of oil and gas production and
processing equipment and services, with its headquarters in
Houston, Texas, and operations in the Permian, Barnett and
Marcellus regions. It provides field services, inspections,
couplings, threading and accessories to the oil and gas industry.
OFS International and affiliates, OFSI Holding LLC and Threading
and Precision Manufacturing LLC, sought Chapter 11 protection
(Bankr. S.D. Texas Lead Case No. 21-31784) on May 31, 2021. In the
petition signed by chief financial officer Alexey Ratnikov, OFS
International disclosed assets of up to $50 million and liabilities
of up to $100 million.
The cases are handled by Judge David R. Jones.
The Debtors tapped Porter Hedges, LLP as bankruptcy counsel, Ahmad
Zavitsanos Anaipakos Alavi & Mensing, P.C. as special counsel, and
Chiron Financial, LLC as investment banker and financial advisor.
BMC Group, Inc. is the Debtors' claims agent.
Sandton Capital Solutions Master Fund V, LP, the Debtors' DIP
lender, is represented by McGuirewoods, LLP.
On June 28, 2021, the U.S. Trustee for Region 6 appointed an
official committee of unsecured creditors in the Debtors' Chapter
11 cases. The committee is represented by Jones Walker, LLP.
On Sept. 30, 2021, the Debtors filed with the court a combined
disclosure statement and plan of reorganization.
ORG GC MIDCO: Nov. 22 Plan & Disclosure Hearing Set
---------------------------------------------------
On Nov. 8, 2021, Debtor ORG GC Midco, LLC, filed with the U.S.
Bankruptcy Court for the Southern District of Texas a motion for
entry of an order scheduling a combined hearing to consider
approval of the Disclosure Statement for Prepackaged Chapter 11
Plan.
On Nov. 9, 2021, Judge Marvin Isgur ordered that:
* Nov. 22, 2021, at 11:00 a.m. is the Combined Hearing, at
which this Court will consider, among other things, the adequacy of
the Disclosure Statement and confirmation of the Plan.
* Nov. 19, 2021, at noon is the deadline to object to the
adequacy of the Disclosure Statement or confirmation of the Plan.
* Nov. 18, 2021, is the deadline to file any brief in support
of the Disclosure Statement and confirmation of the Plan and reply
to any Objections.
* The Opt-Out Deadline is approved.
* The Debtor is not required to mail the Combined Notice, a
Notice of Non-Voting Status, or any other notice in connection with
the Disclosure Statement and Plan to holders of Claims in Class 6
(Intercompany Claims).
A copy of the order dated Nov. 9, 2021, is available at
https://bit.ly/3wIsO52 from PacerMonitor.com at no charge.
Proposed Attorneys for Debtor:
WEIL, GOTSHAL & MANGES LLP
Alfredo R. Perez
700 Louisiana Street, Suite 1700
Houston, Texas 77002
Telephone: (713) 546-5000
Facsimile: (713) 224-9511
WEIL GOTSHAL, & MANGES LLP
Sunny Singh
Katherine T. Lewis
767 Fifth Avenue
New York, New York 10153
Telephone: (212) 310-8000
Facsimile: (212) 310-8007
About ORG GC Midco
GC Services is one of the industry's largest privately owned
business process outsourcing and accounts receivable management
solutions providers in the United States with 6,000 employees
staffed throughout 30 geo-diverse contact center locations. On the
Web: http://www.gcserv.com/
GC Services is a privately-held company that provides a full scope
of solution offerings, including 24x7x365 programs, multi-channel
and multi-lingual customer service programs, from numerous
locations in the continental United States and the Philippines, to
Fortune 500 companies, premier global financial institutions, and
large governmental entities.
ORG GC Midco, LLC, is the intermediate holding company of GC
Services and parent of 5 subsidiaries.
ORG GC Midco, LLC, sought Chapter 11 protection (Bankr. S.D. Tex.
Case No. 21- 90015) on Nov. 8, 2021, to implement a prepackaged
plan of reorganization. In the petition signed by Michael Jones as
CFO and chief administrative officer, ORG GC Midco estimated assets
of between $100 million and $500 million and estimated liabilities
of between $100 million and $500 million.
GC Services did not seek Chapter 11 protection.
The Honorable Judge Marvin Isgur handles the case.
WEIL, GOTSHAL & MANGES LLP, led by Alfredo R. Perez, and Sunny
Singh, serves as the Debtors' counsel. RIVERON MANAGEMENT
SERVICES, LLC, is the Debtor's interim management services
provider. Stretto, formally known as BANKRUPTCY MANAGEMENT
SOLUTIONS INC., is the noticing and solicitation agent and
administrative advisor.
PERKY JERKY: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Perky Jerky, LLC
4380 S. Syracuse St, Suite 300
Denver, CO 80237
Business Description: Perky Jerky, LLC is a meat provider
specializing in turkey, beef, and pork.
Chapter 11 Petition Date: November 15, 2021
Court: United States Bankruptcy Court
District of Colorado
Case No.: 21-15685
Judge: Hon. Joseph G. Rosania Jr.
Debtor's Counsel: Aaron A. Garber, Esq.
WADSWORTH GARBER WARNER CONRARDY, P.C.
2580 West Main Street
Suite 200
Littleton, CO 80120
Tel: 303-296-1999
Email: agarber@wgwc-law.com
Total Assets: $1,934,044
Total Liabilities: $15,753,488
The petition was signed by Brian Levin as CEO.
A full-text copy of the petition containing, among other items, a
list of the Debtor's 20 largest unsecured creditors is available
for free at PacerMonitor.com at:
https://www.pacermonitor.com/view/ROIB2XA/Perky_Jerky_LLC__cobke-21-15685__0001.0.pdf?mcid=tGE4TAMA
PERSEVERANCE GROUP: Gets Interim OK to Hire Real Estate Agent
-------------------------------------------------------------
Perseverance Group, LLC received interim approval from the U.S.
Bankruptcy Court for the Western District of Texas to employ The
Real Estate Power Houses to market for sale its real properties
located at 590 Knollwood Lane and 12536 Sun Terrace Ave., El Paso,
Texas.
The firm's services include:
(a) listing the Debtor's residential properties as "For Sale"
in appropriate real estate listings, including the appropriate
multi-list services;
(b) developing a marketing plan for the sale of the Debtor's
residential properties;
(c) searching for and obtaining interested purchasers of the
Debtor's residential properties;
(d) assisting the Debtor in connection with any contract for
the sale its residential properties;
(e) assisting the Debtor and any potential purchaser in
matters of due diligence with regard to the potential sale of its
residential properties, and otherwise servicing purchasers to
maintain closing schedules;
(f) assisting the Debtor with regards to the closing of any
sale of the residential properties; and
(g) all other things necessary for the proper marketing of the
residential properties.
The firm can be reached through:
Debbie Figueroa Singleton
The Real Estate Power Houses
5823 N. Mesa #732
El Paso, TX 79912
Tel: (915) 261-8077
Email: debbie@debbiefigueroa.com
About Perseverance Group
Perseverance Group, LLC filed a petition for Chapter 11 protection
(Bankr. W.D. Texas Case No. 21-30584) on Aug. 2, 2021, listing up
to $1 million in assets and up to $50,000 in liabilities. Judge H.
Christopher Mott oversees the case. The Debtor is represented by
The Nevarez Law Firm, PC.
PHIO PHARMACEUTICALS: Incurs $3.7 Million Net Loss in Third Quarter
-------------------------------------------------------------------
Phio Pharmaceuticals Corp. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $3.74 million for the three months ended Sept. 30, 2021,
compared to a net loss of $2.31 million for the three months ended
Sept. 30, 2020.
For the nine months ended Sept. 30, 2021, the Company reported a
net loss of $9.84 million compared to a net loss of $6.33 million
for the same period during the prior year.
As of Sept. 30, 2021, the Company had $27.94 million in total
assets, $2.70 million in total liabilities, and $25.25 million in
total stockholders' equity.
At Sept. 30, 2021, the Company had cash of $26.5 million as
compared with $14.2 million at Dec. 31, 2020. The Company expects
its current cash will be sufficient to fund currently planned
operations to the second quarter of 2023.
Research and development expenses were approximately $2.8 million
for the quarter ended Sept. 30, 2021, compared to approximately
$1.3 million for the quarter ended Sept. 30, 2020. The increase in
research and development expenses was primarily due to
manufacturing costs for the Company's PH-762 and PH-894 INTASYL
compounds and fees for the required preclinical studies in support
of the Company's clinical trials for PH-762 as compared to the same
period in the prior year.
General and administrative expenses were approximately $0.9 million
for the quarter ended Sept. 30, 2021, compared to approximately
$1.1 million for the quarter ended Sept. 30, 2020. The decrease is
primarily due to a decrease in legal fees partially offset by
increased stock-based compensation expense as the Company did not
grant equity awards in the same period in the prior year.
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1533040/000168316821005420/phio_i10q-093021.htm
About Phio Pharmaceuticals
Marlborough, Massachusetts-based Phio Pharmaceuticals Corp. --
http://www.phiopharma.com-- is a biotechnology company developing
the next generation of immuno-oncology therapeutics based on its
self-delivering RNAi therapeutic platform. The Company's efforts
are focused on silencing tumor-induced suppression of the immune
system through its proprietary INTASYL platform with utility in
immune cells and/or the tumor micro-environment. The Company's
goal is to develop powerful INTASYL therapeutic compounds that can
weaponize immune effector cells to overcome tumor immune escape,
thereby providing patients a powerful new treatment option that
goes beyond current treatment modalities.
Phio Pharmaceuticals reported a net loss of $8.79 million for the
year ended Dec. 31, 2020, compared to a net loss of $8.91 million
for the year ended Dec. 31, 2019. As of March 31, 2021, the
Company had $33.86 million in total assets, $2.46 million in total
liabilities, and $31.40 million in total stockholders' equity.
PRECIPIO INC: Incurs $1.9 Million Net Loss in Third Quarter
-----------------------------------------------------------
Precipio, Inc. filed with the Securities and Exchange Commission
its Quarterly Report on Form 10-Q disclosing a net loss of $1.85
million on $2.25 million of net sales for the three months ended
Sept. 30, 2021, compared to a net loss of $3.29 million on $1.63
million of net sales for the same period during the prior year.
For the nine months ended Sept. 30, 2021, the Company reported a
net loss of $6.32 million on $6.41 million of net sales compared to
a net loss of $8.73 million on $4.15 million of net sales for the
nine months ended Sept. 30, 2020.
As of Sept. 30, 2021, the Company had $31.61 million in total
assets, $5.69 million in total liabilities, and $25.92 million in
total stockholders' equity.
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1043961/000155837021015776/prpo-20210930x10q.htm
About Precipio
Omaha, Nebraska-based Precipio, formerly known as Transgenomic,
Inc. -- http://www.precipiodx.com-- is a cancer diagnostics
company providing diagnostic products and services to the oncology
market. The Company has developed a platform designed to eradicate
misdiagnoses by harnessing the intellect, expertise and technology
developed within academic institutions and delivering quality
diagnostic information to physicians and their patients worldwide.
Precipio operates a cancer diagnostic laboratory located in New
Haven, Connecticut and has partnered with the Yale School of
Medicine.
Precipio reported a net loss of $10.6 million for the year ended
Dec. 31, 2020, compared to a net loss of $13.24 million for the
year ended Dec. 31, 2019. As of June 30, 2021, the Company had
$33.54 million in total assets, $6.28 million in total liabilities,
and $27.26 million in total stockholders' equity.
Hartford, CT-based Marcum LLP issued a "going concern"
qualification in its report dated March 29, 2021, citing that the
Company has a significant working capital deficiency, has incurred
significant losses and needs to raise additional funds to meet its
obligations and sustain its operations. These conditions raise
substantial doubt about the Company's ability to continue as a
going concern.
REAGOR-DYKES MOTORS: Trustee May Not Answer Ford Credit Deposition
------------------------------------------------------------------
On August 24, 2021, Ford Motor Credit Company, LLC sent a draft
deposition notice to Dennis Faulkner, Trustee of the Creditors
Trust in the Chapter 11 cases of Reagor-Dykes Motors, under Rule
30(b)(6) of the Federal Rules of Civil Procedure. The Trustee had
objections, and the parties conferred to discuss them. Ford Credit
then sent a revised draft notice on September 10. The Trustee now
objects to the revised draft notice and files his motion for a
protective order to prevent his answering questions from a range of
topics under the notice.
Rule 30(b)(6) provides that:
In its notice or subpoena, a party may name as the deponent a
public or private corporation ... or other entity and must describe
with reasonable particularity the matters for examination. The
named organization must designate one or more ... persons who
consent to testify on its behalf ... . The persons designated must
testify about information known or reasonably available to the
organization.
In a Memorandum Opinion and Order dated November 3, 2021, the
United States Bankruptcy Court for the Northern District of Texas,
Lubbock Division, sustained in part and overruled in part the
Trustee's objections. In sustaining some of the Trustee's
objection, the Court ruled that requiring the Trustee to provide
the information for the minimal possibility that some of the
information would be relevant is an undue burden. The Court also
sustained some of the Trustee's objections noting that some of the
information sought were privilege information.
A full-text copy of the decision is available at
https://tinyurl.com/yh4v6nht from Leagle.com.
The adversary proceeding is captioned DENNIS FAULKNER, Creditors'
Trustee of the Creditors Trust, Plaintiff, v. FORD MOTOR CREDIT
COMPANY, LLC, Defendant, Jointly Administered, Adversary No.
20-05005 (Bankr. N.D. Tex.).
About Reagor-Dykes Motors
Dykes Auto Group -- https://www.reagordykesautogroup.com/ -- is a
dealer of automobiles headquartered in Lubbock, Texas. The Company
offers new and used vehicles, automobile parts, and other related
accessories, as well as car financing, leasing, repair, and
maintenance services. Some of its new vehicles include brands like
Ford, Toyota, GMC, Cadillac, Chevrolet and Buick.
Reagor-Dykes Motors, LP, based in Lubbock, Texas, and its
debtor-affiliates sought Chapter 11 protection (Bankr. N.D. Tex.
Lead Case No. 18-50214) on Aug. 1, 2018. In its petition, the
Debtors were estimated $10 million to $50 million in both assets
and liabilities. The petition was signed by Bart Reagor, managing
member of Reagor Auto Mall I, LLC, general manager and Rick Dykes,
managing member of Reagor Auto Mall I, LLC, general partner.
The Hon. Robert L. Jones presided over the case.
David R. Langston, Esq., at Mullin Hoard & Brown, L.L.P., served as
bankruptcy counsel. BlackBriar Advisors LLC served as CRO for the
Debtor.
A Chapter 11 plan was confirmed in the case on July 10, 2020.
RED RIVER WASTE: Seeks Cash Collateral Access, $2.8MM DIP Loan
--------------------------------------------------------------
Red River Waste Solutions, LP asks the U.S. Bankruptcy Court for
the Northern District of Texas, Fort Worth Division, for authority
to, among other things, use cash collateral and obtain
post-petition senior secured superpriority financing.
The Debtor seeks to obtain a senior-secured, post-petition
debtor-in-possession financing facility from SummitBridge National
Investments VIII LLC with an aggregate principal amount of up to
$2,800,000. The Court previously entered an interim order
authorizing Weldon Smith to provide post-petition financing to the
Debtor in the amount of $500,000.
The Debtor said the Summit DIP Facility will provide the estate
with sufficient liquidity to fund the business operations and
administrative expenses during the Chapter 11 Case, including an
immediate draw of funds available following the entry of the
Interim Order.
The proceeds of the Summit DIP Facility will be used based on a
mutually-agreed budget for these purposes:
a. Working capital, liquidity and general corporate purposes;
b. Administrative and professional fees; and
c. Repayment of prior debtor in possession financing.
With respect to the Loan Amount, the Lender will advance all or any
portion of such amount to the Borrower as follows:
a. In accordance with the Interim DIP Order, upon entry of the
Interim DIP Order and the Bankruptcy Court's approval for the
Borrower to repay the Weldon Smith DIP Facility (as defined in the
Interim DIP Order), the Lender will advance to the Borrower an
amount equal to $1,100,000. Promptly following entry of the Interim
DIP Order and in accordance with the Interim DIP Order, $500,000
plus all accrued and unpaid interest and fees of such Advance will
be used to immediately repay (in part or in full) the Weldon Smith
DIP Facility (as defined in the DIP Orders).
b. In accordance with the Final DIP Order, upon entry of a
Final DIP Order, the Lender will advance to the Borrower $900,000.
c. Upon filing with the Bankruptcy Court of either (A) a
motion requesting approval of proposed bidding procedures,
reasonably acceptable to Lender, for a 363 Sale or (B) a chapter 11
plan of reorganization that provides for indefeasible payment in
full, in cash of all of the Obligations, the Lender will advance to
the Borrower an amount equal to $250,000.
d. Upon either (i) approval by the Bankruptcy Court of a
binding stalking-horse bid for a 363 Sale in an amount sufficient
to repay the Obligations in full, in cash, with a minimum
non-refundable deposit of 5% of the purchase price or (ii)
presentment to the Lender of a fully executed and binding term
sheet for committed exit financing in connection with a chapter 11
plan of reorganization in an amount sufficient to indefeasibly pay
in full, in cash, all the Obligations, the Lender will advance to
the Borrower an amount equal to $550,000.
As of September 30, 2021, Red River had approximately $31.1 million
in total debt owed to prepetition lenders, consisting of:
-- $5.0 million in aggregate principal and interest amounts
outstanding under a prepetition revolving facility (the Revolving
Facility), and
-- $29.6 million in aggregate principal and interest amounts
outstanding under a term loan facility.
The Revolving Facility and the Term Loan Facility are each provided
under the Credit Agreement, dated as of April 1, 2020, by and
between Red River Waste Solutions, LP, as borrower, Red River
Service Corporation, as guarantor, and MUFG Union Bank, N.A., as
administrative and collateral agent, among others. The Prepetition
Credit Agreement provides that the obligations arising thereunder
are to be secured by first-priority liens on assets of Debtor Red
River Waste Solutions, LP and non-debtor Red River Waste Solutions,
GP, subject to customary exceptions and exclusions.
The Debtor proposes to provide to the DIP Lender postpetition
security interest in and liens on the DIP Collateral that are
valid, perfected, allowed, enforceable, non-avoidable and not
subject to challenge, dispute, or subordination immediately upon
entry of the Interim Order.
Union Bank does not have a perfected interest in the DIP Collateral
and is not entitled to adequate protection related to that
collateral.
The Debtor also requests that the Court hold and conduct a hearing
to consider entry of the Interim Order authorizing the Debtor, from
and after entry of the Interim Order until the Final Hearing, to
obtain funding under the Summit DIP Facility.
A copy of the motion and the Debtor's budget for the period from
November 8, 2021 to February 6, 2021, is available at
https://bit.ly/3qv0LoJ from Stretto, the claims agent.
The budget provided for total operating costs, on a weekly basis,
as follows:
$597,000 for the week ending November 14, 2021;
$274,000 for the week ending November 21, 2021;
$354,000 for the week ending November 28, 2021;
$533,000 for the week ending December 5, 2021;
$226,000 for the week ending December 12, 2021;
$209,000 for the week ending December 19, 2021;
$283,000 for the week ending December 26, 2021;
$507,000 for the week ending January 2, 2022;
$246,000 for the week ending January 9, 2022;
$231,000 for the week ending January 16, 2022;
$222,000 for the week ending January 23, 2022;
$248,000 for the week ending January 30, 2022; and
$568,000 for the week ending February 6, 2022.
About Red River Waste Solutions
Red River Waste Solutions LP is a Dripping Springs, Texas-based
company that provides waste management services. It also offers
solid waste and garbage pickup, recycling, industrial waste
collection, disposal, and landfill management services.
Red River Waste Solutions sought Chapter 11 protection (Bankr. N.D.
Tex. Case No. 21-42423) on Oct. 14, 2021, listing up to $50 million
in assets and up to $100 million in liabilities. James Calandra,
chief restructuring officer of Red River Waste Solutions, signed
the petition.
Marcus Alan Helt, Esq., at McDermott Will & Emery LLP, is the
Debtor's counsel.
REGIONAL HEALTH: Posts $2.3 Million Net Loss in Third Quarter
-------------------------------------------------------------
Regional Health Properties, Inc. filed with the Securities and
Exchange Commission its Quarterly Report on Form 10-Q disclosing a
net loss attributable to the Company's common stockholders of $2.29
million on $6.70 million of total revenues for the three months
ended Sept. 30, 2021, compared to a net loss attributable to common
stockholders of $2.32 million on $4.77 million of total revenues
for the same period during the prior year.
For the nine months ended Sept. 30, 2021, the Company reported a
net loss attributable to common stockholders of $7.27 million on
$20.25 million of total revenues compared to a net loss
attributable to common stockholders of $6.42 million on $13.85
million of total revenues for the same period during the prior
year.
As of Sept. 30, 2021, the Company had $107.02 million in total
assets, $96.15 million in total liabilities, and $10.88 million in
total stockholders' equity.
The Company intends to pursue measures to grow its operations,
streamline its cost infrastructure and otherwise increase
liquidity, including: (i) refinancing or repaying debt to reduce
interest costs and mandatory principal repayments, with such
repayment to be funded through potentially expanding borrowing
arrangements with certain lenders; (ii) increasing future lease
revenue through acquisitions and investments in existing
properties; (iii) modifying the terms of existing leases; (iv)
replacing certain tenants who default on their lease payment terms;
and (v) reducing other and general and administrative expenses.
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1004724/000156459021056700/rhe-10q_20210930.htm
About Regional Health Properties
Regional Health Properties, Inc. (NYSE American: RHE) (NYSE
American: RHEpA) -- http://www.regionalhealthproperties.com-- is a
self-managed healthcare real estate investment company that invests
primarily in real estate purposed for senior living and long-term
healthcare through facility lease and sub-lease transactions.
Regional Health reported a net loss attributable to common
stockholders of $9.68 million for the year ended Dec. 31, 2020,
compared to a net loss attributable to common stockholders of $3.49
million for the year ended Dec. 31, 2019. As of June 30, 2021, the
Company had $107.16 million in total assets, $96.43 million in
total liabilities, and $10.74 million in total stockholders'
equity.
RESHAPE LIFESCIENCES: Incurs $17.7 Million Net Loss in 3rd Quarter
------------------------------------------------------------------
ReShape Lifesciences, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $17.70 million on $3.71 million of revenue for the three months
ended Sept. 30, 2021, compared to a net loss of $5.18 million on
$3.60 million of revenue for the three months ended Sept. 30,
2020.
For the nine months ended Sept. 30, 2021, the Company reported a
net loss of $26.48 million on $10.46 million of revenue compared to
a net loss of $13.09 million on $8.09 million of revenue for the
same period a year ago.
As of Sept. 30, 2021, the Company had $90.70 million in total
assets, $11.48 million in total liabilities, and $79.22 million in
total stockholders' equity.
As of Sept. 30, 2021, the Company had net working capital of
approximately $27.3 million, primarily due to cash and cash
equivalents and restricted cash of $29.3 million. The Company's
principal source of liquidity as of Sept. 30, 2021, consisted of
approximately $29.3 million of cash and cash equivalents and
restricted cash, and $3.5 million of accounts receivable. In
addition, the Company had its PPP loan and accrued interest
forgiven in full and paid back the $10.5 million of debt with an
institutional investor.
Bart Bandy, president and chief executive officer of ReShape
Lifesciences, commented, "Subsequent to all the major milestones we
completed in the second quarter of this year, our entire
organization focused on executing strategic initiatives this past
quarter that create awareness and demand for our commercial
portfolio of FDA approved and insurance reimbursed products to
further develop a financially strengthened foundation for our
business."
Mr. Bandy continued, "We made great efforts to debut the Company's
first national advertising campaign for our Lap-Band program in
less than 90 days from our Nasdaq listing and fund raise. In
addition, we continued to advance our primary corporate objectives
designed to fuel operational efficiency by adding Al Diaz as our
Vice President of Operations and Research and Development as well
as augmenting our commercial team with key personnel. As we
continue to advance our growth initiatives, we expect that our
differentiated proprietary ecosystem of products to help people
that are overweight or obese combined with our highly experienced
team will bolster our position as the premier provider of
physician-led weight loss solutions and drive shareholder value."
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1427570/000155837021015766/rsls-20210930x10q.htm
About ReShape Lifesciences
ReShape Lifesciences (Obalon Therapeurtics, Inc.) is a weight loss
and metabolic health-solutions company, offering an integrated
portfolio of proven products and services that manage and treat
obesity and metabolic disease.
Obalon Therapeutics reported a net loss of $12.33 million for the
year ended Dec. 31, 2020, compared to a net loss of $23.67 million
for the year ended Dec. 31, 2019. As of March 31, 2021, the
Company had $17.34 million in total assets, $7.24 million in total
liabilities, and $10.10 million in total stockholders' equity.
RESTIERI HEALTHCARE: Wins Cash Collateral Access Thru Dec 16
------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida
authorized Restieri Healthcare Services, LLC to use cash collateral
on a second interim basis through December 16, 2021, the date of
the final hearing.
The Debtor is permitted to pay: (a) amounts expressly authorized by
the Court, including payments to the United States Trustee for
quarterly fees; (b) the current and necessary expenses set forth in
the budget, with a 10% variance; and (c) such additional amounts as
may be expressly approved in writing by CRF Small Business Loan
Company, LLC.
Each Secured Creditor with a security interest in cash collateral
will have a perfected post-petition lien against cash collateral to
the same extent and with the same validity and priority as the
prepetition lien, without the need to file or execute any document
as may otherwise be required under applicable non-bankruptcy law.
The Debtor will pay CRF Small Business Loan Company, LLC $5,000
monthly beginning September 1, 2021 and due on the 1st of the month
thereafter.
The Debtor is also directed to maintain insurance coverage for its
property in accordance with the obligations under the loan and
security documents with the Secured Creditor.
The December 16 hearing is scheduled for 11 a.m. to be held at 4th
Floor Courtroom 4C, 300 North Hogan Street, Jacksonville, Florida
32202.
A copy of the order is available for free at https://bit.ly/3c8jYnF
from PacerMonitor.com.
About Restieri Healthcare Services, LLC
Restieri Healthcare Services, LLC provides regenerative therapy for
joint pain and other conditions, which services the Gainesville,
Florida area. Restieri sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 3:21-bk-01843) on
July 28, 2021. In the petition signed by Dr. Lawrence T. Restieri,
manager, the Debtor disclosed up to $1 million in assets and up to
$10 million in liabilities.
Judge Roberta A. Colton oversees the case.
Jason A. Burgess, Esq., at The Law Offices of Jason A. Burgess, LLC
is the Debtor's counsel.
RETIRED-N-FIT: Reorganization Plan Confirmed by Judge
-----------------------------------------------------
Judge Brendan L. Shannon has entered findings of fact, conclusions
of law and an order confirming the First Amended Small Business
Plan of Reorganization of Retired-N-Fit, LLC, a/k/a Beyond Fifty
Fitness.
The Plan provides for the same treatment of claims or interests in
each respective class unless the holder of a particular claim or
interest has agreed to a less favorable treatment of such claim or
interest. Section 2.5 of the Plan provides adequate means for the
Plan's implementation.
The Court finds that the Plan satisfies the applicable provisions
of 11 U.S.C. Sec. 1129(b) in as much as the Court finds that the
Plan does not discriminate unfairly, and is fair and equitable,
with respect to each class of claims or interests that is impaired
under, and has not accepted, the Plan.
A copy of the Plan Confirmation Order dated Nov. 9, 2021, is
available at https://bit.ly/3neGORa from PacerMonitor.com at no
charge.
Counsel to the Debtor:
David M. Klauder, Esq.
Bielli & Klauder, LLC
1204 N. King Street
Wilmington, DE 19801
Tel: (302) 803-4600
Fax: (302) 397-2557
E-mail: dklauder@bk-legal.com
About Retired-N-Fit LLC
Retired-N-Fit, LLC -- http://www.beyondfiftyde.com/-- runs a
Delaware fitness studio for adults ages 50 and beyond.
Retired-N-Fit filed its voluntary petition for relief under Chapter
11 of the Bankruptcy Code (Bankr. D. Del. Case No. 21-10561) on
March 12, 2021. The Debtor disclosed $50,000 to $100,000 in assets
and $100,000 to $500,0000 in liabilities at the time of the filing.
Bielli & Klauder, LLC serves as the Debtor's legal counsel.
SAVI TECHNOLOGY: Wins Access to Cash Collateral Thru Jan 2022
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Virginia has
authorized Savi Technology, Inc. to use cash collateral on an
interim basis and provide adequate protection.
The Debtor requires authority to use cash collateral pending entry
of a final order to continue operating its business without
interruption -- without such authority, the Debtor may be forced to
shut down and liquidate.
As of the Petition Date, the Debtor owed Eastward Fund Management,
LLC $5,000,000 in original principal amount on account of a Master
Lease Agreement dated November 5, 2018.
Eastward Fund Management consents and the Debtor is permitted to
use cash collateral through January 31, 2022 in the ordinary course
of its business, and to meet the Debtor's ordinary cash needs, in
accordance with the Budget, with a 10% variance for the following
purposes: (a) the maintenance and preservation of the Debtor's
assets; and (b) the continued operation of the Debtor's business,
including, but not limited to, payroll, payroll taxes, employee
expenses and insurance costs, and such other expenditures.
As adequate protection for the Debtor's use of cash collateral,
Eastward is granted a replacement perfected security interest under
Section 361(2) of the Bankruptcy Code to the extent Eastward's cash
collateral is used by the Debtor, to the extent and with the same
priority in the Debtor's postpetition collateral, and proceeds
thereof, that Eastward held in the Debtor's pre-petition
collateral.
The replacement lien granted to Eastward to protect its interest in
the Cash Collateral used or consumed by the Debtor after the
commencement of the case will at all times be senior to the rights
of the Debtor, and, from November 2021 and continuing until and
including January 2022, the Debtor will make monthly interest
payments to Eastward at the contract rate of interest provided for
under the Loan Documents while Eastward reserves the right to claim
all accrued pre- and post-petition interest at the default rate.
The replacement lien and security interests granted are
automatically deemed perfected upon entry of the Order without the
necessity of Eastward's taking possession or filing financing
statements or any other documents.
To the extent the adequate protection provided for proves
insufficient, Eastward will have a superpriority administrative
expense claim, pursuant to Bankruptcy Code Section 507(b).
A final hearing on the matter is scheduled for January 25, 2022 at
11 a.m.
A copy of the order and the Debtor's budget is available for free
at https://bit.ly/3kC9Vff from PacerMonitor.com.
The budget provided for total operating expense, on a monthly
basis, as follows:
$431,704 for the month of November 2021;
$192,835 for the month of December 2021; and
$226,067 for the month of January 2022.
About Savi Technology, Inc.
Savi Technology, Inc. -- https://www.savi.com/ -- is an innovator
in supply chain visibility and sensor technology, providing
real-time information about the location, condition and security of
in-transit goods and assets. The company sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. E.D. Va. Case No.
21-11369) on August 4, 2021.
On the Petition Date, the Debtor estimated $1 million to $10
million in assets and $10 million to $50 million in liabilities.
The petition was signed by Rosemary Johnston as acting president
and CEO.
Shulman, Rogers, Gandal, Pordy & Ecker, P.A. serves the Debtor's
counsel.
Eastward Fund Management, LLC, as lender, is represented by Richard
E. Hagerty, Esq. at Troutman Pepper Hamilton Sanders LLP.
SCIENTIFIC GAMES: Posts $187 Million Net Income in Third Quarter
----------------------------------------------------------------
Scientific Games Corporation filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing net income
of $187 million on $539 million of total revenue for the three
months ended Sept. 30, 2021, compared to a net loss of $111 million
on $432 million of total revenue for the three months ended Sept.
30, 2020.
For the nine months ended Sept. 30, 2021, the Company reported net
income of $291 million on $1.57 billion of total revenue compared
to a net loss of $464 million on $1.22 billion of total revenue for
the nine months ended Sept. 30, 2020.
As of Sept. 30, 2021, the Company had $7.85 billion in total
assets, $10.04 billion in total liabilities, and a total
stockholders' deficit of $2.19 billion.
Barry Cottle, president and chief executive officer of Scientific
Games, said, "In just the last few months we have made tremendous
progress on our strategic pillars, delivering on our promises, and
rapidly advancing our vision to be the leading cross-platform
global game company. With the sale of our Lottery and Sports
Betting businesses we are transforming our Company, raising $7
billion which will significantly de-lever the balance sheet and
enable us to invest for growth. With our streamlined organization
we have all of the pieces in place, and are singularly focused on
building games fully cross-platform. Operationally we also made
great strides in the quarter, further cementing the turnaround at
our Gaming business, strengthening our leadership position in
iGaming and making great progress expanding in Casual at SciPlay.
I want to thank all of our teams around the world for their hard
work and commitment and for what they have enabled us to
accomplish."
Connie James, executive vice president and chief financial officer
of Scientific Games, added, "We have an exciting path ahead of us
as we move rapidly to unlock significant value. With the announced
sale of Lottery and Sports Betting businesses as well as organic
investments and key acquisitions like Authentic, Lightning Box and
Koukoi, you are quickly getting to see the shape as well as the
pace and agility of our new organization. The divestitures put us
on a clearly defined path to materially de-lever while providing us
with the ability to invest. Our momentum continued this quarter
with strong top and bottom line growth and with strong quarterly
cash flow as the teams continued to be laser-focused on
productivity. We are seeing our Company come together and coalesce
around a high-performance culture that embraces our bright future
as we pursue our new vision and I can't thank our employees enough
for their dedication and enthusiasm."
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/750004/000075000421000036/sgms-20210930.htm
About Scientific Games
Based in Las Vegas, Nevada, Scientific Games Corporation
(NASDAQ:SGMS) -- http://www.scientificgames.com-- is a developer
of technology-based products and services and associated content
for the worldwide gaming, lottery, social and digital gaming
industries. Its portfolio of revenue-generating activities
primarily includes supplying gaming machines and game content,
casino-management systems and table game products and services to
licensed gaming entities; providing instant and draw-based lottery
products, lottery systems and lottery content and services to
lottery operators; providing social casino solutions to retail
consumers and regulated gaming entities, as applicable; and
providing a comprehensive suite of digital RMG and sports wagering
solutions, distribution platforms, content, products and services.
Scientific Games reported a net loss of $548 million for the year
ended Dec. 31, 2020, compared to a net loss of $118 million for the
year ended Dec. 31, 2019. As of June 30, 2021, the Company had
$7.76 billion in total assets, $10.13 billion in total liabilities,
and a total stockholders' deficit of $2.37 billion.
SINTX TECHNOLOGIES: Incurs $2.3 Million Net Loss in Third Quarter
-----------------------------------------------------------------
SINTX Technologies, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $2.34 million on $239,000 of product revenue for the three
months ended Sept. 30, 2021, compared to a net loss of $2.44
million on $66,000 of product revenue for the three months ended
Sept. 30, 2020.
For the nine months ended Sept. 30, 2021, the Company reported a
net loss of $7.18 million on $441,000 of product revenue compared
to a net loss of $5.30 million on $478,000 of product revenue for
the same period during the prior year.
As of Sept. 30, 2021, the Company had $24.87 million in total
assets, $5.63 million in total liabilities, and $19.24 million in
total stockholders' equity.
Management has concluded existing capital resources will be
sufficient to fund operations for at least the next 12 months, or
through November 2022.
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001269026/000149315221027935/form10-q.htm
About SINTX Technologies
Headquartered in Salt Lake City, Utah, SINTX Technologies --
https://ir.sintx.com -- is an OEM ceramics company that develops
and commercializes silicon nitride for medical and non-medical
applications. The core strength of SINTX Technologies is the
manufacturing, research, and development of silicon nitride
ceramics for external partners. The Company presently manufactures
advanced ceramics powders and components in its FDA registered, ISO
13485:2016 certified, and ASD9100D certified manufacturing
facility.
SINTX Technologies reported a net loss of $7.03 million for year
ended Dec. 31, 2020, compared to a net loss of $4.79 million for
the year ended Dec. 31, 2019. As of June 30, 2021, the Company had
$26.42 million in total assets, $4.94 million in total liabilities,
and $21.48 million in total stockholders' equity.
SPRINGFIELD HOSPITAL: Vermont Regulators Approved Revised Budget
----------------------------------------------------------------
Nora Doyle-Burr of Valley News reports that despite ongoing
concerns about Springfield Hospital's future sustainability
following its exit from Chapter 11 bankruptcy last year, the Green
Mountain Care Board on Nov. 8, 2021 unanimously approved the
hospital's proposed $55 million budget for the current fiscal
year.
The vote was on a revised budget after the board earlier this fall
had expressed concerns about the hospital's ability to meet
projections included in the original submission. The budget that
regulators approved on Nov. 8 banks on a continuation of the
current strong demand for hospital services; an 8.3% rate increase
for commercial insurers that the board approved earlier this fall;
and an expected increase in reimbursement from Medicare.
Care Board "staff do believe that the trends that Springfield is
seeing will continue," Patrick Rooney, the board's director of
health systems finances, said during the hearing, which was held
online. "There is a need in that community right now. They are
meeting it."
Demand for hospital beds across the region has been up in recent
months amid the surge of the delta variant of the virus that causes
Covid-19 and worsening chronic illnesses due to delays in seeking
care earlier in the pandemic.
While Care Board members supported Springfield's budget on Monday,
hospital officials still are required to meet monthly with board
chair Kevin Mullin to monitor the hospital's financial status. Even
while they lent their support, board members also expressed some
skepticism about Springfield officials' ability to realize a
positive operating margin after several years of losses.
"I remain concerned about this budget," said Jessica Holmes, a
member of the board who is also a professor of economics at
Middlebury College.
Hospital officials may be overly optimistic about the continuation
of current demand for inpatient care, which may be an anomaly
caused by "pent-up demand" from earlier in the Covid-19 pandemic,
Holmes said.
Springfield Hospital CEO Robert Adcock told regulators he expects
the hospital's net patient revenue, the amount the hospital
receives for health care services, will grow from $46.8 million
last fiscal year to $54.7 million this 2021.
Not included in last 2020's net patient revenue was $1.6 million in
a state grant that kept the hospital's 10-bed psychiatric facility,
the Windham Center in Bellows Falls, reserved for Covid-19-positive
psychiatric patients for much of last fiscal year, limiting the
census there.
Adcock said that he’s “optimistic that the (fiscal year) ’22
budget can bring us to breakeven or better.”
In addition to the 10 beds at the Windham Center, the hospital has
25 beds in Springfield.
During the fiscal year that ended Sept. 30, 2021, the hospital
averaged a daily census of about 10 acute patients, four
psychiatric patients and one swing-bed patient, Adcock said. It saw
about 11,700 emergency department visits last year, for an average
of about 32 per day.
But amid the surge of the delta variant and an increase in demand
for hospital services across the region in recent months, volumes
have climbed. On the day of the hearing, for example, all 10 beds
at the Windham Center were full, Adcock said. There also were 11
acute patients and three in swing beds, which are used as a
transition to a long-term care facility. Emergency department
visits also have been up lately, with 44 on Nov. 7, 2021 alone, he
said.
All in all, the increase in volume is expected to add $3.2 million
to Springfield's net patient revenue this 2021, compared with
last.
In addition to the increase in demand for services, hospital
officials said they are expecting a $2 million boost from the 8.3%
rate increase the board approved, which they expect will increase
the amount the hospital collects from commercial insurers.
Similarly, hospital officials also said they expect a $2.7 million
boost from an increase in the reimbursement they collect from
Medicare.
In addition to expressing concerns about the hospital's
projections, Holmes also urged hospital officials to consider how
best to provide health care in the future, following a consultant's
report delivered to the board last month that suggested reducing
beds at some of the state's hospitals and rethinking how care is
delivered. The report came as part of the state's push to make
hospitals sustainable even as it moves forward with the transition
from fee-for-service to fixed payments for keeping people healthy.
One suggestion in the consultant's report, for example, was
shifting inpatient care provided at Springfield Hospital to Mt.
Ascutney Hospital and Health Center in Windsor; and converting
Springfield Hospital to an alternate acute care delivery model such
as a rural emergency hospital, freestanding emergency department,
an outpatient hospital or a hospital-at-home service.
Hospital officials said they plan to explore a range of options for
how they continue to provide care in the future. The hospital is
recruiting a new general surgeon as soon as possible, and may
expand care in urology and gynecology, and add a pain management
service, Adcock said.
The hospital also is working on a telemedicine effort that would
allow Springfield Hospital clinicians to consult with specialists
elsewhere as needed. The hospital is also considering how it might
begin to offer specialized care for geriatric psychiatric patients.
In the longer term, Springfield officials are seeking a formal
partnership with a local or regional health care provider.
"We're rooting for your continued success and for that of your
community," Mullin, the board's chairman, said following the vote.
About Springfield Hospital
Springfield Hospital, Inc., is a not-for-profit, critical access
hospital located in Springfield, Vermont. As part of Springfield
Medical Care Systems' integrated system of care, including a
network of ten federally qualified community health center sites,
Springfield Hospital serves communities in southeastern Vermont
and
southwestern New Hampshire.
Springfield Hospital, Inc., sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. D. Vermont Case No. 19-10283) on June
26, 2019. At the time of the filing, the Debtor estimated $10
million to $50 million in assets and liabilities. The Hon. Colleen
A. Brown oversees the case. Murray, Plumb & Murray is the Debtor's
legal counsel.
SUNLIGHT RIVER: Taps Sonoran Capital as Feasibility Expert
----------------------------------------------------------
Sunlight River Crossing, LLC received approval from the U.S.
Bankruptcy Court for the District of Arizona to hire Mesa,
Ariz.-based feasibility expert, Sonoran Capital Advisors, LLC.
The firm's services include:
(a) analyzing the Debtor's financial and operational
information, projections and plan terms;
(b) providing an expert report summarizing the firm's
findings and conclusions regarding the plan's feasibility; and
(c) testifying as to the findings and conclusions contained
in its report.
The firm will be paid on an hourly basis at these rates:
Managing Directors $425 per hour
Senior Advisors $395 per hour
Analysts $225 per hour
Bryan Perkinson, managing director at Sonoran, disclosed in a court
filing that his firm is a "disinterested person" as defined in
Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Bryan Perkinson
Sonoran Capital Advisors, LLC
1733 N Greenfield Rd. Ste 104
Mesa, AZ 85205
Phone: (480) 825-6650
About Sunlight River Crossing
Cornville, Ariz.-based Sunlight River Crossing, LLC filed its
voluntary petition for Chapter 11 protection (Bankr. D. Ariz. Case
No. 21-04364) on June 4, 2021, listing as much as $10 million in
both assets and liabilities. Judge Brenda K. Martin presides over
the case.
Allen Barnes & Jones, PLC and Sonoran Capital Advisors, LLC serve
as the Debtor's legal counsel and financial advisor, respectively.
988, LLC, as lender, is represented by Bryan Wayne Goodman of
Goodman & Goodman, PLC.
TENRGYS LLC: $54K Unsecured Claims to Recover 100% in Joint Plan
----------------------------------------------------------------
Tenrgys, LLC and its Debtor Affiliates submitted a Second Amended
Disclosure Statement for the Second Amended Joint Chapter 11 Plan
of Reorganization dated Nov. 11, 2021.
By July 2021, PanAm was insisting on terms that effectively would
have given PanAm unilateral control over all of the Debtors'
business—international and domestic—and the ability later to
take all of the economic upside of the transaction, while saddling
the Debtors' management with a disproportionate share of the
working capital obligations and associated risk, and leaving
Tenrgys's members with little hope of significant participation in
the Debtors' profit in the near future.
Faced with unacceptable deal terms, and a vote by the Tenrgys
membership not to accept those terms, the Debtors engaged financial
advisors and legal counsel to advise management and the board of
directors regarding potential strategic alternatives to enhance the
Debtors' liquidity and address their capital structure. The Debtors
succeeded in securing the support of the Consenting 2013 Loan
Lender for a restructuring plan to be implemented by these Chapter
11 Cases.
Unable to meet the RSA milestone requiring entry of a Disclosure
Statement Order no later than November 10, 2021, the Debtors worked
with the Consenting 2013 Loan Lender to arrive at the terms of a
First Amended and Restated Restructuring Support and Lock-Up
Agreement dated November 11, 2021. Changes made to the RSA through
the Amended RSA include, among other things:
* (i) extending certain milestones, as described in this
Disclosure Statement under the header "Proposed Case Timeline";
* (ii) changing the Plan treatment of the Consenting 2013 Loan
Lender and PanAm; and
* (iii) adding the Governance Term Sheet as an exhibit to the
Amended RSA.
The Restructuring Transactions contemplated by the Plan, if
confirmed, will (1) satisfy the Allowed 2012 RBL Facility debt in
full through deferred cash payments, (2) equitize a substantial
portion of the 2013 Loan, and (3) keep all of the Debtors' other
creditors and contractual counterparties current and unimpaired,
avoiding disruption to the Debtors' business and preserving the
jobs of the Debtors' and TOG's employees. The Debtors management
and board have determined that the Restructuring Transactions
represent the best available means for the Debtors to maximize the
value of their estates for the benefit of all stakeholders.
The Plan provides for the reorganization of the Debtors as a going
concern and will significantly reduce the Reorganized Debtors'
long-term debt and annual interest payments, resulting in a
stronger, de-levered balance sheet for the Reorganized Debtors. The
Plan provides for: (a) the satisfaction of the Secured 2012 RBL
Facility Claim by deferred cash payments over five years; (b) the
partial equitization and restructuring of the 2013 Loan Claim; (c)
payment in full of Allowed General Unsecured Claims on the
Effective Date or otherwise in the ordinary course of the Debtors'
business; and (d) Exit Financing of up to $5 million on the
Effective Date to ensure liquidity and assist in commencing
payments under the Plan.
Class 1 consists of the Secured 2012 RBL Facility Claim in the
amount of $71,060,717.80. The Debtors shall repay the Allowed
Secured 2012 RBL Facility Claim in full over a five-year period in
deferred Cash payments at an interest rate of 3.25% per annum, or
such other interest rate as the Court may determine. Consistent
with section 1129(b)(2)(A)(i) of the Bankruptcy Code, PanAm shall
retain its liens until the Allowed Secured 2012 RBL Facility Claim
has been fully paid. This Class will receive a distribution of 100%
of their allowed claims.
Class 4 consists of the Unsecured 2013 Loan Claim in the amount of
$122,327,458. Such Holder shall receive: (i) payment of the sum of
$500,000.00 in Cash on the Effective Date; (ii) a membership
interest equal to 35.00% of the equity in the Reorganized Tenrgys;
and (iii) a new $20 million floating rate second-lien term loan
with market pricing (but with an interest rate of L+750 with a
LIBOR floor of 1% if paid in cash, or L+950 with a LIBOR floor of
1% if paid in kind), and other market terms to be agreed and set
forth in the New Secured Term Loan Documents. This Class will
receive a distribution of 30% of their allowed claims.
Class 5 consists of General Unsecured Claims in the amount of
$54,000. Each such Holder shall receive, at the Debtors' option,
either: (i) payment in full in Cash, payable on the later of the
Effective Date and the date that is 10 Business Days after the date
on which such General Unsecured Claim becomes an Allowed General
Unsecured Claim, in each case, or as soon as reasonably practicable
thereafter, (ii) such Holder's Allowed General Unsecured Claim will
be Reinstated, or (iii) such Holder will receive such other
treatment so as to render such Holder's Allowed General Unsecured
Claim Unimpaired. This Class will receive a distribution of 100% of
their allowed claims.
The Debtors shall fund distributions under the Plan with one or
more of the following, subject to appropriate definitive agreements
and documentation: (1) the Exit Facility; (2) the New Term Loan;
(3) the New Reorganized Tenrgys Membership Interests; and (4)
encumbered and unencumbered Cash on hand, including Cash from
operations of the Debtors. Each distribution and issuance referred
to in the Plan shall be governed by the terms and conditions set
forth in the Plan applicable to such distribution or issuance and
by the terms and conditions of the instruments or other documents
evidencing or relating to such distribution or issuance, which
terms and conditions shall bind each Entity receiving such
distribution or issuance.
A full-text copy of the Second Amended Disclosure Statement dated
Nov. 11, 2021, is available at https://bit.ly/2YJWJxc from
PacerMonitor.com at no charge.
Counsel for the Debtors:
Glenn Gates Taylor
John H. Geary, Jr.
Christopher H. Meredith
Copeland, Cook, Taylor & Bush, P.A.
P.O. Box 6020
Ridgeland, MS 39158
Telephone: (601) 856-7200
Facsimile: (601) 856-7626
E-mail: gtaylor@cctb.com
jgeary@cctb.com
cmeredith@cctb.com
About Tenrgys LLC
Tenrgys, LLC, operates as an oil and gas exploration and production
company. It is headquartered in Ridgeland, Miss.
Tenrgys and its affiliates filed their voluntary petitions for
Chapter 11 protection (Bankr. S.D. Miss. Lead Case No. 21-01515) on
Sept. 17, 2021, listing as much as $500 million in both assets and
liabilities. Richard H. Mills, Jr., manager, signed the
petitions.
Judge Jamie A. Wilson oversees the cases.
Copeland, Cook, Taylor & Bush, P.A., and FTI Consulting, Inc.,
serve as the Debtors' legal counsel and financial advisor,
respectively.
TRANS-LUX CORP: Incurs $999K Net Loss in Third Quarter
------------------------------------------------------
Trans-Lux Corporation filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $999,000 on $2.87 million of total revenues for the three months
ended Sept. 30, 2021, compared to a net loss of $758,000 on $2.90
million of total revenues for the three months ended Sept. 30,
2020.
For the nine months ended Sept. 30, 2021, the Company reported a
net loss of $2.80 million on $8.34 million of total revenues
compared to a net loss of $3.15 million on $6.86 million of total
revenues for the nine months ended Sept. 30, 2020.
As of Sept. 30, 2021, the Company had $7.01 million in total
assets, $16.84 million in total liabilities, and a total
stockholders' deficit of $9.83 million.
Due to the onset of the COVID-19 pandemic in 2020, the Company
experienced a reduction in sales orders from customers. As a
result, the Company incurred a net loss of $2.8 million in the nine
months ended September 30, 2021 and had a working capital
deficiency of $8.6 million as of September 30, 2021. In addition,
the Company has past due principal and interest payments on its
outstanding 8 1/4% Limited convertible senior subordinated notes
due 2012 and 9 1/2% Subordinated debentures due 2012.
"The Company is dependent on future operating performance in order
to generate sufficient cash flows in order to continue to run its
businesses. Future operating performance is dependent on general
economic conditions, as well as financial, competitive and other
factors beyond our control, including the impact of the current
economic environment, the spread of major epidemics (including
coronavirus) and other related uncertainties such as
government-imposed travel restrictions, interruptions to supply
chains, extended shut down of businesses and the impact of
inflation. In order to more effectively manage its cash resources,
the Company had, from time to time, increased the timetable of its
payment of some of its payables, which delayed certain product
deliveries from our vendors, which in turn delayed certain
deliveries to our customers," Trans-Lux said.
"If we are unable to (i) obtain additional liquidity for working
capital, (ii) make the required minimum funding contributions to
the defined benefit pension plan, (iii) make the required principal
and interest payments on the Notes and the Debentures and/or (iv)
repay our obligations under our Loan Agreement (hereinafter
defined) with Unilumin (assigned from MidCap Business Credit LLC
("MidCap") in July 2021), there would be a significant adverse
impact on our financial position and operating results. The
Company continually evaluates the need and availability of
long-term capital in order to meet its cash requirements and fund
potential new opportunities. Due to the above, there is
substantial doubt as to whether we will have adequate liquidity,
including access to the debt and equity capital markets, to operate
our business over the next 12 months from the date of issuance of
this Form 10-Q," the Company further said.
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/99106/000151316221000135/tlx-20210930.htm
About Trans-Lux
Headquartered in New York, New York, Trans-Lux Corporation --
http://www.trans-lux.com-- designs and manufactures TL Vision
digital video displays for the financial, sports and entertainment,
gaming, education, government, and commercial markets. With a
comprehensive offering of LED Large Screen Systems, LCD Flat Panel
Displays, Data Walls and scoreboards (marketed under Fair-Play by
Trans-Lux), Trans-Lux delivers comprehensive video display
solutions for any size venue's indoor and outdoor display needs.
Trans-Lux reported a net loss of $4.84 million for the 12 months
ended Dec. 31, 2020, a net loss of $1.40 million for the year ended
Dec. 31, 2019, and a net loss of $4.69 million for the year ended
Dec. 31, 2018. As of June 30, 2021, the Company had $6.60 million
in total assets, $15.38 million in total liabilities, and a total
stockholders' deficit of $8.78 million.
New Haven, CT-based Marcum LLP, the Company's auditor since 2015,
issued a "going concern" qualification in its report dated April
15, 2021, citing that the Company has a significant working capital
deficiency, has incurred significant losses and needs to raise
additional funds to meet its obligations and sustain its
operations. These conditions raise substantial doubt about the
Company's ability to continue as a going concern.
VTV THERAPEUTICS: Incurs $1.1 Million Net Loss in Third Quarter
---------------------------------------------------------------
vTv Therapeutics Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
attributable to the company of $1.09 million on $3 million of
revenue for the three months ended Sept. 30, 2021, compared to a
net loss attributable to the company of $1.53 million on $7,000 of
revenue for the three months ended Sept. 30, 2020.
For the nine months ended Sept. 30, 2021, the Company reported a
net loss attributable to the company of $5.94 million on $3.99
million of revenue compared to a net loss attributable to the
company of $9.63 million on $15,000 of revenue for the same period
during the prior year.
As of Sept. 30, 2021, the Company had $31.43 million in total
assets, $8.37 million in total liabilities, $44.61 million in
redeemable noncontrolling interest, and a total stockholders'
deficit of $21.55 million.
The Company's cash position as of Sept. 30, 2021, was $19.6 million
compared to $10.8 million as of June 30, 2021.
As of Sept. 30, 2021, the Company has an accumulated deficit of
$259.0 million as well as a history of negative cash flows from
operating activities.
vTv stated, "We anticipate that we will continue to incur losses
for the foreseeable future as we continue our clinical trials.
Further, we expect that we will need additional capital to continue
to fund our operations. As of September 30, 2021, we had cash and
cash equivalents of $19.6 million. To meet our future funding
requirements into the fourth quarter of 2022, based on our current
operating plans, we plan to rely on the remaining availability of
$37.9 million under our Controlled Equity OfferingSM Sales
Agreement with Cantor Fitzgerald & Co. pursuant to which we could
offer and sell, from time to time shares of our Class A Common
Stock and our ability to sell approximately 9.4 million shares of
Class A Common Stock to Lincoln Park Capital Fund, LLC pursuant and
subject to the limitations of the purchase agreement. However, the
ability to use these sources of capital is dependent on a number of
factors, including the prevailing market price of and the volume of
trading in our Class A Common Stock. These factors raise
substantial doubt about our ability to continue as a going
concern."
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1641489/000156459021055468/vtvt-10q_20210930.htm
About vTv Therapeutics
vTv Therapeutics Inc. is a clinical-stage biopharmaceutical company
focused on developing oral small molecule drug candidates. vTv has
a pipeline of clinical drug candidates led by programs for the
treatment of type 1 diabetes, Alzheimer's disease, and inflammatory
disorders. vTv's development partners are pursuing additional
indications in type 2 diabetes, chronic obstructive pulmonary
disease (COPD), and genetic mitochondrial diseases.
vTv Therapeutics reported a net loss attributable to common
shareholders of $8.50 million for the year ended Dec. 31, 2020,
compared to a net loss attributable to common shareholders of
$17.91 million for the year ended Dec. 31, 2019. As of June 30,
2021, the Company had $21.66 million in total assets, $9.29 million
in total liabilities, $60.19 million in redeemable noncontrolling
interest, and a total stockholders' deficit of $47.82 million.
WALHONDE TOOLS: Unsec. Creditors Will Get 1% of Claim in 5 Years
----------------------------------------------------------------
Walhonde Tools, Inc., filed with the U.S. Bankruptcy Court for the
Southern District of West Virginia a Small Business Plan of
Reorganization dated November 9, 2021.
The Debtor was formed and incorporated on January 23, 1986 as a
domestic-for-profit corporation. The Debtor is a small woman-owned
business with its origins starting out of the necessity of fit-up
tools for the boilermakers. This is a family run and owned
business.
This Plan of Reorganization proposes to pay creditors of the Debtor
from the sale of some of Debtor's personal property and future
income stream of the Debtor as well as with the proceeds of an SBA
loan.
The Plan will treat claims as follows:
* Class 1 consists of Administrative Expense Claim of the
Subchapter V Trustee and shall be paid prior to confirmation.
* Class 2 consists of the claims of BB&T, now known as Truist.
Truist will be paid $400,000.00 within one week of SBA funding
which is subject to Bankruptcy Court approval. The $150,000.00 will
be paid at 4.5% interest over 240 months with a monthly payment of
$14,897.00 and a confirmation order would allow Truist to retain
its lien, but no collections will be had by Truist against the
personal guarantors of Truist loan who are principals of the
debtor.
* Class 3 consists of Unsecured Creditors. Unsecured general
claims will be paid a total of 1% of their claim with quarterly
payments of January 15, April 15, July 15, and October 15 each year
over a five-year period in a total amount of $3,000.00 distributed
per quarter.
* Class 4 consists of Insider claims. No payments will be made
to Matthew McClure or to the McClure Trust.
Debtor will commence making its payments under the plan on the
first day of the calendar month that follows the effective date of
the plan. It will fund the plan payments from the sale and other
income made in the ordinary course of its business.
A full-text copy of the Plan of Reorganization dated November 09,
2021, is available at https://bit.ly/3ok0S3y from PacerMonitor.com
at no charge.
Counsel for Debtor:
Andrew S. Nason, Esq.
Daniel Lattanzi, Esq.
Pepper and Nason
8 Hale Street
Charleston, WV 25301
Tel: 304-346-0361
Fax: 304-346-1054
Email: info@PepperNason.com
About Walhonde Tools
Walhonde Tools, Inc. is a South Charleston, W.Va.-based company
that produces and markets precision tube and pipe fitting tools for
the power, pulp and paper, petro-chemical, food and drug
processing, shipbuilding, and repair industries worldwide.
Walhonde Tools filed a Chapter 11 petition (Bankr. S.D. W.Va. Case
No. 21-20150) on June 29, 2021. In the petition signed by Matthew
McClure, president, the Debtor disclosed $866,207 in assets and
$1,660,552 in liabilities. Judge Mckay B. Mignault presides over
the case. The Debtor tapped Pepper and Nason as its bankruptcy
counsel and Jeremy B. Simms of Simms and Company as its accountant.
WHISPER LAKE: Seeks Cash Collateral Access
------------------------------------------
Whisper Lake Developments, Inc. asks the U.S. Bankruptcy Court for
the Western District of Washington for authority to use cash
collateral and provide adequate protection.
The Debtor requires the continued use of the cash collateral to
continue to maintain, develop and/or operate its properties,
including its property on Grandview Road, Ferndale, Washington.
The Grandview Property is encumbered by a deed of trust in favor of
James and Terri Cook. The Grandview Deed of Trust includes a grant
of an interest in Whisper Lake's lessor position in any leases on
the Grandview Property and any proceeds thereof.
The Grandview Property includes three buildings that Whisper Lake
rents to various individuals who, in turn, conduct business therein
including automotive services and repackaging and distribution
services.
The Grandview Property secures a promissory note in the principal
amount of $535,000.
As of the Petition Date, the balance owing on the Grandview Note
was approximately $573,787.
In addition to the balance of the Grandview Note, property taxes of
approximately $31,541 are outstanding with respect to the Grandview
Property and the City of Ferndale asserts liens thereon totaling
$77,080.
The Debtor believes the fair market value of the Grandview Property
as of the Petition Date is approximately $1.2 million on the low
end.
In addition to the equity cushion enjoyed by the Grandview Lender
with respect to the Grandview Property, as adequate protection for
the use of the Grandview Lender's prepetition cash collateral, the
Debtor proposes to provide the Grandview Lender the following: (a)
a replacement lien in the Debtor's post-petition assets to the same
extent, and in the same validity and priority as the Grandview
Lender held in the Debtor's prepetition assets to secure the
diminution, if any, in the value of the Grandview Lender's interest
in the Grandview Property as a result of the Debtor's usage of the
prepetition cash collateral; and (b) monthly payments of principal
and interest under the Grandview Note in the amount of $4,458.
A copy of the motion is available at https://bit.ly/3kzXQap from
PacerMonitor.com.
About Whisper Lake Developments, Inc.
Whisper Lake Developments, Inc. is engaged in activities related to
real estate. The Debtor is the owner of five real properties
located in Washington having a total current value of $9.53
million.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. Wash. Case No. 21-12060) on November
10, 2021. In the petition signed by Eric Orse, president, Orse &
Company, Inc., CRO., the Debtor disclosed $9,666,063 in assets and
$5,562,777 in liabilities.
Christine M. Tobin-Presser, Esq., at Bush Kornfield LLP is the
Debtor's counsel.
YIELD10 BIOSCIENCE: Incurs $2.4 Million Net Loss in Third Quarter
-----------------------------------------------------------------
Yield10 Bioscience, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $2.40 million on $92,000 of total revenue for the three months
ended Sept. 30, 2021, compared to a net loss of $2.17 million on
$204,000 of total revenue for the three months ended Sept. 30,
2020.
For the nine months ended Sept. 30, 2021, the Company reported a
net loss of $8.05 million on $462,000 of total revenue compared to
a net loss of $7.56 million on $604,000 of total revenue for the
same period during the prior year.
As of Sept. 30, 2021, the Company had $22.95 million in total
assets, $4.46 million in total liabilities, and $18.49 million in
total stockholders' equity.
Management Commentary
"During the third quarter we continued to execute against our
strategic objectives for 2021," said Oliver Peoples, Ph.D., chief
executive officer of Yield10 Bioscience. "We completed the harvest
of Camelina in our 2021 spring field tests and seed scale up
activities. We are pleased to report that following our successful
scale up of our two prototype PHA bioplastic Camelina lines, we
confirmed levels of PHA bioplastic in seed consistent with results
obtained in field tests last year. We plan to move ahead with
further scale up in 2022. The development of commercial lines with
higher PHA bioplastic seed content is ongoing, and we are
progressing outreach to partner prospects in the plastics sector.
Our observations across our broader field test program suggest that
our Camelina varieties displayed good heat tolerance in a season in
North America that was very challenging for many commercial crops.
This provides us with confidence that we will be able to report our
overall findings when analysis of seed and oil samples are
complete, which is anticipated in first quarter 2022. We will use
this data set to finalize the plans for our 2022 spring field test
and seed scale up program.
"We have obtained partial results to date from our field tests of
E3902, a CRISPR edited Camelina line, and they are consistent with
prior testing of this line. As a result, we will soon begin contra
season seed scale up of E3902 to enable the production of
additional seed inventory.
"Our elite winter Camelina varieties have the potential to provide
a source of oil for biodiesel production, a rapidly growing market
in the U.S. and Canada. Winter Camelina may have important
advantages in use as a rotation crop in geographies which are more
challenging for other oilseed crops or as a relay crop with soybean
or corn. In both cases processing the winter Camelina seed would
allow expansion of feedstock oil production to meet growing demand
for low carbon biofuels while increasing protein production for
feed. Our winter varieties performed well in the 2020-2021 winter
planting therefore we are moving forward with the planting of our
2021-2022 winter field test and seed scale up program in the U.S.
and Canada. As part of this program, we will be conducting field
tests in various southern locations in the U.S. to characterize the
range of geography possible for achieving target yields in our
Camelina varieties.
"Our team is also making excellent progress deploying herbicide
tolerance traits into our elite Camelina varieties and obtaining
the data necessary to develop the regulatory strategy and timelines
for producing omega-3 (DHA+EPA).
"We remain focused on identifying opportunities for expanded
collaboration on the GRAIN platform and trait licenses, as well as
for Camelina seed products including feedstock oil for biodiesel,
omega-3 (DHA+EPA) oil and for PHA bioplastics. During the third
quarter, we worked with Forage Genetics to extend their research
license to traits for testing in forage sorghum. A top priority
for our team is to secure revenue generating collaborations and
non-dilutive funding as we continue to demonstrate the significant
potential of Camelina as a new crop," said Peoples.
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1121702/000112170221000059/yten-20210930.htm
About Yield10
Yield10 Bioscience, Inc. -- http://www.yield10bio.com-- is an
agricultural bioscience company that uses its "Trait Factory" and
the Camelina oilseed "Fast Field Testing" system to develop high
value seed traits for the agriculture and food industries. Yield10
is headquartered in Woburn, MA and has an Oilseeds Center of
Excellence in Saskatoon, Canada.
Yield10 Bioscience reported a net loss of $10.21 million for the
year ended Dec. 31, 2020, compared to a net loss of $12.95 million
for the year ended Dec. 31, 2019. As of June 30, 2021, the Company
had $25.21 million in total assets, $4.75 million in total
liabilities, and $20.46 million in total stockholders' equity.
[^] Large Companies with Insolvent Balance Sheet
------------------------------------------------
Total
Share- Total
Total Holders' Working
Assets Equity Capital
Company Ticker ($MM) ($MM) ($MM)
------- ------ ------ -------- -------
ACCELERATE DIAGN 1A8 GR 81.2 (39.7) 64.0
ACCELERATE DIAGN AXDX US 81.2 (39.7) 64.0
ACCELERATE DIAGN 1A8 SW 81.2 (39.7) 64.0
ACCELERATE DIAGN AXDX* MM 81.2 (39.7) 64.0
ACCELERATE DIAGN 1A8 TH 81.2 (39.7) 64.0
ACCELERATE DIAGN 1A8 QT 81.2 (39.7) 64.0
ADAMAS PHARMACEU ADMS US 144.0 (21.6) 84.2
ADAMAS PHARMACEU 136 GR 144.0 (21.6) 84.2
ADAMAS PHARMACEU ADMSEUR EU 144.0 (21.6) 84.2
ADAMAS PHARMACEU 136 TH 144.0 (21.6) 84.2
ADAMAS PHARMACEU 136 GZ 144.0 (21.6) 84.2
AEMETIS INC DW51 GR 147.0 (132.1) (57.6)
AEMETIS INC AMTX US 147.0 (132.1) (57.6)
AEMETIS INC AMTXGEUR EU 147.0 (132.1) (57.6)
AEMETIS INC AMTXGEUR EZ 147.0 (132.1) (57.6)
AEMETIS INC DW51 GZ 147.0 (132.1) (57.6)
AEMETIS INC DW51 TH 147.0 (132.1) (57.6)
AEMETIS INC DW51 QT 147.0 (132.1) (57.6)
AERIE PHARMACEUT AERI US 351.8 (72.9) 157.8
AERIE PHARMACEUT AERIEUR EU 351.8 (72.9) 157.8
AERIE PHARMACEUT 0P0 GR 351.8 (72.9) 157.8
AERIE PHARMACEUT 0P0 GZ 351.8 (72.9) 157.8
AERIE PHARMACEUT AERIEUR EZ 351.8 (72.9) 157.8
AERIE PHARMACEUT 0P0 TH 351.8 (72.9) 157.8
AERIE PHARMACEUT 0P0 QT 351.8 (72.9) 157.8
AEROCENTURY CORP ACY US 58.7 (26.2) -
AGRIFY CORP AGFY US 163.5 141.8 123.4
ALDEL FINANCIA-A ADF US 118.6 111.2 2.3
ALDEL FINANCIAL ADF/U US 118.6 111.2 2.3
ALPHA CAPITAL -A ASPC US 231.6 206.6 1.6
ALPHA CAPITAL AC ASPCU US 231.6 206.6 1.6
ALPHA PARTNERS T APTMU US 1.037 (2.023) (0.523)
ALPHA PARTNERS T APTM US 1.037 (2.023) (0.523)
ALTENERGY ACQUIS AEAEU US 0.325 (0.060) (0.060)
ALTICE USA INC-A ATUS* MM 33,432.7 (1,132.7) (2,824.2)
ALTICE USA INC-A 15PA TH 33,432.7 (1,132.7) (2,824.2)
ALTICE USA INC-A 15PA GR 33,432.7 (1,132.7) (2,824.2)
ALTICE USA INC-A ATUSEUR EU 33,432.7 (1,132.7) (2,824.2)
ALTICE USA INC-A 15PA GZ 33,432.7 (1,132.7) (2,824.2)
ALTICE USA INC-A ATUS US 33,432.7 (1,132.7) (2,824.2)
ALTIRA GP-CEDEAR MOC AR 39,564.0 (1,226.0) (2,092.0)
ALTIRA GP-CEDEAR MOD AR 39,564.0 (1,226.0) (2,092.0)
ALTIRA GP-CEDEAR MO AR 39,564.0 (1,226.0) (2,092.0)
ALTRIA GROUP INC MOEUR EU 39,564.0 (1,226.0) (2,092.0)
ALTRIA GROUP INC MO US 39,564.0 (1,226.0) (2,092.0)
ALTRIA GROUP INC MO SW 39,564.0 (1,226.0) (2,092.0)
ALTRIA GROUP INC PHM7 TH 39,564.0 (1,226.0) (2,092.0)
ALTRIA GROUP INC MO TE 39,564.0 (1,226.0) (2,092.0)
ALTRIA GROUP INC PHM7 GR 39,564.0 (1,226.0) (2,092.0)
ALTRIA GROUP INC PHM7 QT 39,564.0 (1,226.0) (2,092.0)
ALTRIA GROUP INC MO* MM 39,564.0 (1,226.0) (2,092.0)
ALTRIA GROUP INC MO CI 39,564.0 (1,226.0) (2,092.0)
ALTRIA GROUP INC MOEUR EZ 39,564.0 (1,226.0) (2,092.0)
ALTRIA GROUP INC 0R31 LI 39,564.0 (1,226.0) (2,092.0)
ALTRIA GROUP INC ALTR AV 39,564.0 (1,226.0) (2,092.0)
ALTRIA GROUP INC MOUSD SW 39,564.0 (1,226.0) (2,092.0)
ALTRIA GROUP INC PHM7 GZ 39,564.0 (1,226.0) (2,092.0)
ALTRIA GROUP INC MO-RM RM 39,564.0 (1,226.0) (2,092.0)
ALTRIA GROUP-BDR MOOO34 BZ 39,564.0 (1,226.0) (2,092.0)
AMC ENTERTAINMEN AMC US 11,057.5 (1,642.7) 173.8
AMC ENTERTAINMEN AH9 GR 11,057.5 (1,642.7) 173.8
AMC ENTERTAINMEN AMC* MM 11,057.5 (1,642.7) 173.8
AMC ENTERTAINMEN AH9 TH 11,057.5 (1,642.7) 173.8
AMC ENTERTAINMEN AH9 QT 11,057.5 (1,642.7) 173.8
AMC ENTERTAINMEN AMC4EUR EU 11,057.5 (1,642.7) 173.8
AMC ENTERTAINMEN AH9 GZ 11,057.5 (1,642.7) 173.8
AMC ENTERTAINMEN AMC-RM RM 11,057.5 (1,642.7) 173.8
AMC ENTERTAINMEN A2MC34 BZ 11,057.5 (1,642.7) 173.8
AMERICAN AIR-BDR AALL34 BZ 68,437.0 (7,437.0) 257.0
AMERICAN AIRLINE A1G QT 68,437.0 (7,437.0) 257.0
AMERICAN AIRLINE AAL US 68,437.0 (7,437.0) 257.0
AMERICAN AIRLINE A1G GR 68,437.0 (7,437.0) 257.0
AMERICAN AIRLINE AAL* MM 68,437.0 (7,437.0) 257.0
AMERICAN AIRLINE A1G TH 68,437.0 (7,437.0) 257.0
AMERICAN AIRLINE AAL11EUR EZ 68,437.0 (7,437.0) 257.0
AMERICAN AIRLINE AAL11EUR EU 68,437.0 (7,437.0) 257.0
AMERICAN AIRLINE AAL AV 68,437.0 (7,437.0) 257.0
AMERICAN AIRLINE AAL TE 68,437.0 (7,437.0) 257.0
AMERICAN AIRLINE A1G SW 68,437.0 (7,437.0) 257.0
AMERICAN AIRLINE A1G GZ 68,437.0 (7,437.0) 257.0
AMERICAN AIRLINE AAL-RM RM 68,437.0 (7,437.0) 257.0
AMYRIS INC AMRS US 542.3 (53.3) (182.0)
AMYRIS INC 3A01 GR 542.3 (53.3) (182.0)
AMYRIS INC 3A01 TH 542.3 (53.3) (182.0)
AMYRIS INC AMRSEUR EU 542.3 (53.3) (182.0)
AMYRIS INC 3A01 QT 542.3 (53.3) (182.0)
AMYRIS INC AMRSEUR EZ 542.3 (53.3) (182.0)
AMYRIS INC 3A01 GZ 542.3 (53.3) (182.0)
AMYRIS INC AMRS* MM 542.3 (53.3) (182.0)
APELLIS PHARMACE APLS US 525.7 (57.3) 381.2
APELLIS PHARMACE 1JK TH 525.7 (57.3) 381.2
APELLIS PHARMACE 1JK GR 525.7 (57.3) 381.2
APELLIS PHARMACE APLSEUR EU 525.7 (57.3) 381.2
APOLLO ENDOSURGE APEN US 71.1 (0.092) 39.0
APOLLO ENDOSURGE HQ8F GR 71.1 (0.092) 39.0
APOLLO ENDOSURGE APEN1EUR EU 71.1 (0.092) 39.0
APOLLO ENDOSURGE HQ8F TH 71.1 (0.092) 39.0
AQUESTIVE THERAP AQST US 65.3 (60.3) 25.2
ARCH BIOPARTNERS ARCH CN 2.7 (4.8) (1.4)
ARCHIMEDES TECH ATSPU US 134.0 133.7 0.9
ARCHIMEDES- SUB ATSPT US 134.0 133.7 0.9
ARTERIS INC AIP US - - -
ATHENA BITCOIN G ABIT US 0.011 (1.578) (1.578)
ATLAS TECHNICAL ATCX US 414.6 (143.1) 107.5
AUSTERLITZ ACQ-A AUS US 691.0 610.6 (3.2)
AUSTERLITZ ACQUI AUS/U US 691.0 610.6 (3.2)
AUTOZONE INC AZ5 GR 14,516.2 (1,797.5) (954.5)
AUTOZONE INC AZ5 TH 14,516.2 (1,797.5) (954.5)
AUTOZONE INC AZOEUR EU 14,516.2 (1,797.5) (954.5)
AUTOZONE INC AZ5 QT 14,516.2 (1,797.5) (954.5)
AUTOZONE INC AZOEUR EZ 14,516.2 (1,797.5) (954.5)
AUTOZONE INC AZ5 GZ 14,516.2 (1,797.5) (954.5)
AUTOZONE INC AZO US 14,516.2 (1,797.5) (954.5)
AUTOZONE INC AZO AV 14,516.2 (1,797.5) (954.5)
AUTOZONE INC AZ5 TE 14,516.2 (1,797.5) (954.5)
AUTOZONE INC AZO* MM 14,516.2 (1,797.5) (954.5)
AUTOZONE INC-BDR AZOI34 BZ 14,516.2 (1,797.5) (954.5)
AVID TECHNOLOGY AVID US 248.9 (126.4) (6.5)
AVID TECHNOLOGY AVD GR 248.9 (126.4) (6.5)
AVID TECHNOLOGY AVD TH 248.9 (126.4) (6.5)
AVID TECHNOLOGY AVD GZ 248.9 (126.4) (6.5)
AVIS BUD-CEDEAR CAR AR 21,610.0 (198.0) (231.0)
AVIS BUDGET GROU CAR US 21,610.0 (198.0) (231.0)
AVIS BUDGET GROU CAR2EUR EU 21,610.0 (198.0) (231.0)
AVIS BUDGET GROU CUCA QT 21,610.0 (198.0) (231.0)
AVIS BUDGET GROU CAR* MM 21,610.0 (198.0) (231.0)
AVIS BUDGET GROU CUCA GR 21,610.0 (198.0) (231.0)
AVIS BUDGET GROU CAR2EUR EZ 21,610.0 (198.0) (231.0)
AVIS BUDGET GROU CUCA TH 21,610.0 (198.0) (231.0)
AVIS BUDGET GROU CUCA SW 21,610.0 (198.0) (231.0)
AVIS BUDGET GROU CUCA GZ 21,610.0 (198.0) (231.0)
BACKBLAZE INC-A BLZE US - - -
BATH & BODY WORK BBWI US 10,392.0 (1,188.0) 1,889.0
BATH & BODY WORK LTD0 TH 10,392.0 (1,188.0) 1,889.0
BATH & BODY WORK LBEUR EU 10,392.0 (1,188.0) 1,889.0
BATH & BODY WORK BBWI* MM 10,392.0 (1,188.0) 1,889.0
BATH & BODY WORK LTD0 QT 10,392.0 (1,188.0) 1,889.0
BATH & BODY WORK LTD0 GR 10,392.0 (1,188.0) 1,889.0
BATH & BODY WORK LBEUR EZ 10,392.0 (1,188.0) 1,889.0
BATH & BODY WORK BBWI AV 10,392.0 (1,188.0) 1,889.0
BATH & BODY WORK LTD0 GZ 10,392.0 (1,188.0) 1,889.0
BATH & BODY WORK BBWI-RM RM 10,392.0 (1,188.0) 1,889.0
BAUSCH HEALTH CO BVF GR 29,252.0 (135.0) (113.0)
BAUSCH HEALTH CO BHC CN 29,252.0 (135.0) (113.0)
BAUSCH HEALTH CO BHC US 29,252.0 (135.0) (113.0)
BAUSCH HEALTH CO VRX SW 29,252.0 (135.0) (113.0)
BAUSCH HEALTH CO BHCN MM 29,252.0 (135.0) (113.0)
BAUSCH HEALTH CO VRX1EUR EU 29,252.0 (135.0) (113.0)
BAUSCH HEALTH CO BVF QT 29,252.0 (135.0) (113.0)
BAUSCH HEALTH CO VRX1EUR EZ 29,252.0 (135.0) (113.0)
BAUSCH HEALTH CO BVF TH 29,252.0 (135.0) (113.0)
BAUSCH HEALTH CO BVF GZ 29,252.0 (135.0) (113.0)
BELLRING BRAND-A BRBR US 685.4 (100.1) 107.5
BELLRING BRAND-A BR6 TH 685.4 (100.1) 107.5
BELLRING BRAND-A BR6 GR 685.4 (100.1) 107.5
BELLRING BRAND-A BRBR1EUR EU 685.4 (100.1) 107.5
BELLRING BRAND-A BR6 GZ 685.4 (100.1) 107.5
BENEFITFOCUS INC BNFT US 252.4 (2.0) 65.9
BENEFITFOCUS INC BTF GR 252.4 (2.0) 65.9
BENEFITFOCUS INC BNFTEUR EU 252.4 (2.0) 65.9
BIOCRYST PHARM BO1 GR 265.8 (147.0) 119.1
BIOCRYST PHARM BCRX US 265.8 (147.0) 119.1
BIOCRYST PHARM BO1 TH 265.8 (147.0) 119.1
BIOCRYST PHARM BCRXEUR EU 265.8 (147.0) 119.1
BIOCRYST PHARM BO1 QT 265.8 (147.0) 119.1
BIOCRYST PHARM BCRXEUR EZ 265.8 (147.0) 119.1
BIOCRYST PHARM BO1 SW 265.8 (147.0) 119.1
BIOCRYST PHARM BCRX* MM 265.8 (147.0) 119.1
BIOHAVEN PHARMAC 2VN GR 1,131.2 (531.2) 482.1
BIOHAVEN PHARMAC BHVNEUR EU 1,131.2 (531.2) 482.1
BIOHAVEN PHARMAC 2VN TH 1,131.2 (531.2) 482.1
BIOHAVEN PHARMAC BHVN US 1,131.2 (531.2) 482.1
BLUE BIRD CORP BLBD US 362.9 (46.8) (10.0)
BLUE BIRD CORP 4RB GR 362.9 (46.8) (10.0)
BLUE BIRD CORP 4RB GZ 362.9 (46.8) (10.0)
BLUE BIRD CORP BLBDEUR EU 362.9 (46.8) (10.0)
BLUE BIRD CORP 4RB TH 362.9 (46.8) (10.0)
BLUE BIRD CORP 4RB QT 362.9 (46.8) (10.0)
BOEING CO-BDR BOEI34 BZ 146,846.0 (14,266.0) 31,117.0
BOEING CO-CED BA AR 146,846.0 (14,266.0) 31,117.0
BOEING CO-CED BAD AR 146,846.0 (14,266.0) 31,117.0
BOEING CO/THE BAEUR EU 146,846.0 (14,266.0) 31,117.0
BOEING CO/THE BA EU 146,846.0 (14,266.0) 31,117.0
BOEING CO/THE BCO GR 146,846.0 (14,266.0) 31,117.0
BOEING CO/THE BOE LN 146,846.0 (14,266.0) 31,117.0
BOEING CO/THE BCO TH 146,846.0 (14,266.0) 31,117.0
BOEING CO/THE BA PE 146,846.0 (14,266.0) 31,117.0
BOEING CO/THE BOEI BB 146,846.0 (14,266.0) 31,117.0
BOEING CO/THE BA US 146,846.0 (14,266.0) 31,117.0
BOEING CO/THE BA SW 146,846.0 (14,266.0) 31,117.0
BOEING CO/THE BA* MM 146,846.0 (14,266.0) 31,117.0
BOEING CO/THE BA TE 146,846.0 (14,266.0) 31,117.0
BOEING CO/THE BCO QT 146,846.0 (14,266.0) 31,117.0
BOEING CO/THE BA CI 146,846.0 (14,266.0) 31,117.0
BOEING CO/THE BAEUR EZ 146,846.0 (14,266.0) 31,117.0
BOEING CO/THE BA EZ 146,846.0 (14,266.0) 31,117.0
BOEING CO/THE BA-RM RM 146,846.0 (14,266.0) 31,117.0
BOEING CO/THE BA AV 146,846.0 (14,266.0) 31,117.0
BOEING CO/THE BAUSD SW 146,846.0 (14,266.0) 31,117.0
BOEING CO/THE BCO GZ 146,846.0 (14,266.0) 31,117.0
BOEING CO/THE BACL CI 146,846.0 (14,266.0) 31,117.0
BOEING CO/THE TR TCXBOE AU 146,846.0 (14,266.0) 31,117.0
BOMBARDIER INC-B BBDBN MM 12,532.0 (3,211.0) 1,296.0
BRIDGEBIO PHARMA 2CL GZ 781.5 (735.9) 543.9
BRIDGEBIO PHARMA BBIOEUR EU 781.5 (735.9) 543.9
BRIDGEBIO PHARMA 2CL TH 781.5 (735.9) 543.9
BRIDGEBIO PHARMA BBIO US 781.5 (735.9) 543.9
BRIDGEBIO PHARMA 2CL GR 781.5 (735.9) 543.9
BRIDGEMARQ REAL BRE CN 84.3 (55.8) 9.9
BRINKER INTL BKJ GR 2,339.4 (325.5) (329.9)
BRINKER INTL EAT US 2,339.4 (325.5) (329.9)
BRINKER INTL BKJ TH 2,339.4 (325.5) (329.9)
BRINKER INTL EAT2EUR EZ 2,339.4 (325.5) (329.9)
BRINKER INTL BKJ QT 2,339.4 (325.5) (329.9)
BRINKER INTL EAT2EUR EU 2,339.4 (325.5) (329.9)
BROOKFIELD INF-A BIPC US 9,176.0 (1,148.0) (2,097.0)
BROOKFIELD INF-A BIPC CN 9,176.0 (1,148.0) (2,097.0)
BRP INC/CA-SUB V DOO CN 4,253.2 (418.0) 168.4
BRP INC/CA-SUB V B15A GR 4,253.2 (418.0) 168.4
BRP INC/CA-SUB V DOOO US 4,253.2 (418.0) 168.4
BRP INC/CA-SUB V B15A GZ 4,253.2 (418.0) 168.4
BRP INC/CA-SUB V DOOEUR EU 4,253.2 (418.0) 168.4
BRP INC/CA-SUB V B15A TH 4,253.2 (418.0) 168.4
CADIZ INC CDZI US 101.6 (5.1) 10.1
CADIZ INC 2ZC GR 101.6 (5.1) 10.1
CADIZ INC CDZIEUR EU 101.6 (5.1) 10.1
CALUMET SPECIALT CLMT US 1,833.9 (300.2) (273.4)
CAP SENIOR LIVIN CSU US 674.2 (153.6) (186.5)
CAP SENIOR LIVIN 13C0 GR 674.2 (153.6) (186.5)
CAP SENIOR LIVIN CSU2EUR EU 674.2 (153.6) (186.5)
CARBON STREAMING OFSTD US - (0.5) (0.5)
CARBON STREAMING NETZ CN - (0.5) (0.5)
CARBON STREAMING M2Q GR - (0.5) (0.5)
CARBON STREAMING OFSTFEUR EU - (0.5) (0.5)
CARBON STREAMING M2Q GZ - (0.5) (0.5)
CEDAR FAIR LP FUN US 2,814.5 (682.6) 331.8
CENTRUS ENERGY-A 4CU TH 487.2 (229.1) 79.0
CENTRUS ENERGY-A 4CU GR 487.2 (229.1) 79.0
CENTRUS ENERGY-A LEUEUR EU 487.2 (229.1) 79.0
CENTRUS ENERGY-A LEU US 487.2 (229.1) 79.0
CEREVEL THERAPEU CERE US 733.5 629.1 644.2
CHOICE CONSOLIDA CDXX-U/U CN 174.1 (6.3) -
CHOICE CONSOLIDA CDXXF US 174.1 (6.3) -
CINEPLEX INC CX0 GR 2,108.8 (199.8) (351.0)
CINEPLEX INC CPXGF US 2,108.8 (199.8) (351.0)
CINEPLEX INC CGX CN 2,108.8 (199.8) (351.0)
CINEPLEX INC CX0 TH 2,108.8 (199.8) (351.0)
CINEPLEX INC CGXEUR EU 2,108.8 (199.8) (351.0)
CINEPLEX INC CGXN MM 2,108.8 (199.8) (351.0)
CINEPLEX INC CX0 GZ 2,108.8 (199.8) (351.0)
CLEAR CHANNEL OU CCO US 5,365.3 (3,287.8) 110.8
CLEAR CHANNEL OU C7C1 GR 5,365.3 (3,287.8) 110.8
CLEAR CHANNEL OU CCO1EUR EU 5,365.3 (3,287.8) 110.8
CLEARWATER AN-A CWAN US 326.6 242.4 272.9
CLINIGENCE HOLDI CLNH US 77.4 67.3 (1.7)
CLOVIS ONCOLOGY C6O GR 508.0 (225.5) 118.0
CLOVIS ONCOLOGY CLVS US 508.0 (225.5) 118.0
CLOVIS ONCOLOGY CLVSEUR EU 508.0 (225.5) 118.0
CLOVIS ONCOLOGY C6O TH 508.0 (225.5) 118.0
CLOVIS ONCOLOGY CLVSEUR EZ 508.0 (225.5) 118.0
CLOVIS ONCOLOGY C6O QT 508.0 (225.5) 118.0
CLOVIS ONCOLOGY C6O GZ 508.0 (225.5) 118.0
COGENT COMMUNICA CCOI US 1,008.7 (356.8) 337.1
COGENT COMMUNICA OGM1 GR 1,008.7 (356.8) 337.1
COGENT COMMUNICA CCOIEUR EU 1,008.7 (356.8) 337.1
COGENT COMMUNICA CCOI* MM 1,008.7 (356.8) 337.1
COGNITION THERAP CGTX US 16.5 (12.5) 11.6
COMMUNITY HEALTH CYH US 15,670.0 (1,000.0) 1,087.0
COMMUNITY HEALTH CG5 GR 15,670.0 (1,000.0) 1,087.0
COMMUNITY HEALTH CG5 TH 15,670.0 (1,000.0) 1,087.0
COMMUNITY HEALTH CYH1EUR EZ 15,670.0 (1,000.0) 1,087.0
COMMUNITY HEALTH CG5 QT 15,670.0 (1,000.0) 1,087.0
COMMUNITY HEALTH CYH1EUR EU 15,670.0 (1,000.0) 1,087.0
COMMUNITY HEALTH CG5 GZ 15,670.0 (1,000.0) 1,087.0
CORESITE REALTY COR US 2,167.0 (9.8) -
CORESITE REALTY 07H GR 2,167.0 (9.8) -
CORESITE REALTY 07H TH 2,167.0 (9.8) -
CORESITE REALTY COR1EUR EU 2,167.0 (9.8) -
CORESITE REALTY 07H GZ 2,167.0 (9.8) -
CORSAIR PARTN-A CORS US 0.755 (0.020) (0.750)
CORSAIR PARTNERI CORS/U US 0.755 (0.020) (0.750)
CORVUS GOLD INC KOR US 11.6 (3.4) (9.0)
CORVUS GOLD INC KOR CN 11.6 (3.4) (9.0)
CPI CARD GROUP I PMTS US 252.3 (122.5) 86.0
CPI CARD GROUP I CPB1 GR 252.3 (122.5) 86.0
CPI CARD GROUP I PMTSEUR EU 252.3 (122.5) 86.0
CRIXUS BH3 ACQUI BHACU US 0.321 (0.006) (0.185)
CRUCIAL INNOVATI CINV US - (0.014) (0.014)
D2L INC DTOL CN 108.1 (226.3) (27.3)
DA32 LIFE SCIE-A DALS US 0.471 (0.018) (0.324)
DECARBONIZATIO-A DCRD US 0.423 (0.503) (0.926)
DECARBONIZATION DCRDU US 0.423 (0.503) (0.926)
DEEP MEDICINE AC DMAQU US 0.535 (0.026) 0.480
DELEK LOGISTICS DKL US 930.5 (104.8) (61.5)
DENNY'S CORP DENN US 411.0 (89.6) (43.5)
DENNY'S CORP DE8 GR 411.0 (89.6) (43.5)
DENNY'S CORP DE8 TH 411.0 (89.6) (43.5)
DENNY'S CORP DENNEUR EU 411.0 (89.6) (43.5)
DENNY'S CORP DE8 GZ 411.0 (89.6) (43.5)
DIALOGUE HEALTH CARE CN 150.7 131.5 118.9
DIEBOLD NIXDORF DBD GR 3,586.9 (863.5) 361.6
DIEBOLD NIXDORF DBD US 3,586.9 (863.5) 361.6
DIEBOLD NIXDORF DBD QT 3,586.9 (863.5) 361.6
DIEBOLD NIXDORF DBD TH 3,586.9 (863.5) 361.6
DIEBOLD NIXDORF DBDEUR EZ 3,586.9 (863.5) 361.6
DIEBOLD NIXDORF DBD SW 3,586.9 (863.5) 361.6
DIEBOLD NIXDORF DBDEUR EU 3,586.9 (863.5) 361.6
DIEBOLD NIXDORF DBD GZ 3,586.9 (863.5) 361.6
DIGITAL MEDIA-A DMS US 267.9 (46.2) 19.5
DINE BRANDS GLOB IHP GR 1,922.5 (254.3) 148.7
DINE BRANDS GLOB DIN US 1,922.5 (254.3) 148.7
DINE BRANDS GLOB IHP TH 1,922.5 (254.3) 148.7
DINE BRANDS GLOB IHP GZ 1,922.5 (254.3) 148.7
DOMINO'S P - BDR D2PZ34 BZ 1,764.4 (4,127.5) 429.6
DOMINO'S PIZZA EZV GR 1,764.4 (4,127.5) 429.6
DOMINO'S PIZZA DPZ US 1,764.4 (4,127.5) 429.6
DOMINO'S PIZZA EZV QT 1,764.4 (4,127.5) 429.6
DOMINO'S PIZZA EZV TH 1,764.4 (4,127.5) 429.6
DOMINO'S PIZZA EZV GZ 1,764.4 (4,127.5) 429.6
DOMINO'S PIZZA DPZEUR EZ 1,764.4 (4,127.5) 429.6
DOMINO'S PIZZA EZV SW 1,764.4 (4,127.5) 429.6
DOMINO'S PIZZA DPZ AV 1,764.4 (4,127.5) 429.6
DOMINO'S PIZZA DPZ* MM 1,764.4 (4,127.5) 429.6
DOMINO'S PIZZA DPZEUR EU 1,764.4 (4,127.5) 429.6
DOMO INC- CL B DOMO US 206.8 (101.5) (38.5)
DOMO INC- CL B 1ON GR 206.8 (101.5) (38.5)
DOMO INC- CL B DOMOEUR EU 206.8 (101.5) (38.5)
DOMO INC- CL B 1ON GZ 206.8 (101.5) (38.5)
DOMO INC- CL B 1ON TH 206.8 (101.5) (38.5)
DROPBOX INC-A DBXEUR EZ 3,339.1 (162.6) 881.2
DROPBOX INC-A DBX* MM 3,339.1 (162.6) 881.2
DROPBOX INC-A DBX US 3,339.1 (162.6) 881.2
DROPBOX INC-A 1Q5 GR 3,339.1 (162.6) 881.2
DROPBOX INC-A 1Q5 SW 3,339.1 (162.6) 881.2
DROPBOX INC-A 1Q5 TH 3,339.1 (162.6) 881.2
DROPBOX INC-A 1Q5 QT 3,339.1 (162.6) 881.2
DROPBOX INC-A DBXEUR EU 3,339.1 (162.6) 881.2
DROPBOX INC-A DBX AV 3,339.1 (162.6) 881.2
DROPBOX INC-A 1Q5 GZ 3,339.1 (162.6) 881.2
DTRT HEALTH AC-A DTRT US 0.358 (0.018) (0.352)
DTRT HEALTH ACQU DTRTU US 0.358 (0.018) (0.352)
EAST RESOURCES A ERESU US 345.3 (40.5) (40.5)
EAST RESOURCES-A ERES US 345.3 (40.5) (40.5)
EFFECTOR THERAPE EFTR US 59.9 (7.7) 12.6
EFFECTOR THERAPE LWK1 TH 59.9 (7.7) 12.6
EFFECTOR THERAPE EFTREUR EU 59.9 (7.7) 12.6
EFFECTOR THERAPE LWK1 GR 59.9 (7.7) 12.6
EMPIRE PETRO EMPR US 43.1 (6.2) (13.2)
ESPERION THERAPE 0ET GR 225.3 (362.7) 92.2
ESPERION THERAPE 0ET TH 225.3 (362.7) 92.2
ESPERION THERAPE ESPREUR EU 225.3 (362.7) 92.2
ESPERION THERAPE 0ET QT 225.3 (362.7) 92.2
ESPERION THERAPE ESPR US 225.3 (362.7) 92.2
ESPERION THERAPE ESPREUR EZ 225.3 (362.7) 92.2
ESPERION THERAPE 0ET SW 225.3 (362.7) 92.2
ESPERION THERAPE 0ET GZ 225.3 (362.7) 92.2
EXCELFIN ACQUISI XFINU US 0.429 (0.093) (0.522)
EXPRESS INC EXPR US 1,250.4 (23.5) (135.9)
EXPRESS INC 02Z TH 1,250.4 (23.5) (135.9)
EXPRESS INC 02Z GR 1,250.4 (23.5) (135.9)
EXPRESS INC EXPREUR EU 1,250.4 (23.5) (135.9)
EXPRESS INC 02Z QT 1,250.4 (23.5) (135.9)
EXPRESS INC 02Z GZ 1,250.4 (23.5) (135.9)
F45 TRAINING HOL FXLV US 107.0 (308.8) 4.9
F45 TRAINING HOL 4OP GR 107.0 (308.8) 4.9
F45 TRAINING HOL FXLVEUR EU 107.0 (308.8) 4.9
F45 TRAINING HOL 4OP TH 107.0 (308.8) 4.9
F45 TRAINING HOL 4OP GZ 107.0 (308.8) 4.9
F45 TRAINING HOL 4OP QT 107.0 (308.8) 4.9
FAIR ISAAC CORP FRI GR 1,567.8 (110.9) (8.2)
FAIR ISAAC CORP FICO US 1,567.8 (110.9) (8.2)
FAIR ISAAC CORP FICOEUR EU 1,567.8 (110.9) (8.2)
FAIR ISAAC CORP FRI GZ 1,567.8 (110.9) (8.2)
FAIR ISAAC CORP FICO1* MM 1,567.8 (110.9) (8.2)
FAIR ISAAC CORP FICOEUR EZ 1,567.8 (110.9) (8.2)
FAIR ISAAC CORP FRI QT 1,567.8 (110.9) (8.2)
FARADAY FUTURE I FFIE US 229.9 (9.4) (2.4)
FARMERS EDGE INC FDGE CN 194.0 150.0 101.2
FERRELLGAS PAR-B FGPRB US 1,729.6 (171.7) 298.1
FERRELLGAS-LP FGPR US 1,729.6 (171.7) 298.1
FIRST LIGHT AC-A FLAG US 0.625 (0.058) (0.566)
FIRST LIGHT ACQ FLAG/U US 0.625 (0.058) (0.566)
FLEXION THERAPEU FLXN US 217.9 (82.4) 148.8
FLEXION THERAPEU F02 GR 217.9 (82.4) 148.8
FLEXION THERAPEU FLXNEUR EZ 217.9 (82.4) 148.8
FLEXION THERAPEU F02 TH 217.9 (82.4) 148.8
FLEXION THERAPEU FLXNEUR EU 217.9 (82.4) 148.8
FLEXION THERAPEU F02 QT 217.9 (82.4) 148.8
FLEXION THERAPEU F02 GZ 217.9 (82.4) 148.8
FLUENCE ENERGY I FLNC US 693.0 30.8 (19.2)
GLOBAL CLEAN ENE GCEH US 303.2 (41.9) (18.7)
GLOBAL SPAC -SUB GLSPT US 170.2 (12.2) (5.0)
GLOBAL SPAC PART GLSPU US 170.2 (12.2) (5.0)
GLOBAL TECHNOLOG GTACU US 0.426 (0.029) (0.394)
GODADDY INC -BDR G2DD34 BZ 7,298.0 (101.1) (715.5)
GODADDY INC-A 38D GR 7,298.0 (101.1) (715.5)
GODADDY INC-A 38D QT 7,298.0 (101.1) (715.5)
GODADDY INC-A GDDY US 7,298.0 (101.1) (715.5)
GODADDY INC-A 38D TH 7,298.0 (101.1) (715.5)
GODADDY INC-A GDDYEUR EZ 7,298.0 (101.1) (715.5)
GODADDY INC-A GDDY* MM 7,298.0 (101.1) (715.5)
GODADDY INC-A 38D GZ 7,298.0 (101.1) (715.5)
GOGO INC GOGO US 443.2 (560.2) 20.1
GOGO INC G0G QT 443.2 (560.2) 20.1
GOGO INC G0G GR 443.2 (560.2) 20.1
GOGO INC GOGOEUR EZ 443.2 (560.2) 20.1
GOGO INC G0G TH 443.2 (560.2) 20.1
GOGO INC GOGOEUR EU 443.2 (560.2) 20.1
GOGO INC G0G GZ 443.2 (560.2) 20.1
GOLDEN NUGGET ON GNOG US 289.0 (45.4) 106.9
GOLDEN NUGGET ON LCA2EUR EU 289.0 (45.4) 106.9
GOLDEN NUGGET ON 5ZU TH 289.0 (45.4) 106.9
GOODRICH PETROLE GDP US 266.0 (10.9) (106.0)
GOODRICH PETROLE 45J GR 266.0 (10.9) (106.0)
GOODRICH PETROLE GDP1EUR EU 266.0 (10.9) (106.0)
GOOSEHEAD INSU-A 2OX GR 247.1 (75.7) 16.8
GOOSEHEAD INSU-A GSHDEUR EU 247.1 (75.7) 16.8
GOOSEHEAD INSU-A GSHD US 247.1 (75.7) 16.8
GOOSEHEAD INSU-A 2OX TH 247.1 (75.7) 16.8
GOOSEHEAD INSU-A 2OX QT 247.1 (75.7) 16.8
GORES HOLD VII-A GSEV US 552.6 515.5 (15.3)
GORES HOLDINGS V GSEVU US 552.6 515.5 (15.3)
GORES TECH-B GTPB US 462.3 417.7 (26.3)
GORES TECHNOLOGY GTPBU US 462.3 417.7 (26.3)
GRAFTECH INTERNA EAFEUR EZ 1,393.1 (110.7) 359.1
GRAFTECH INTERNA G6G GZ 1,393.1 (110.7) 359.1
GRAFTECH INTERNA EAF US 1,393.1 (110.7) 359.1
GRAFTECH INTERNA G6G GR 1,393.1 (110.7) 359.1
GRAFTECH INTERNA G6G TH 1,393.1 (110.7) 359.1
GRAFTECH INTERNA EAFEUR EU 1,393.1 (110.7) 359.1
GRAFTECH INTERNA G6G QT 1,393.1 (110.7) 359.1
GRAFTECH INTERNA EAF* MM 1,393.1 (110.7) 359.1
GRAPHITE BIO INC GRPH US 416.2 400.1 390.0
GREENSKY INC-A GSKY US 1,405.0 (74.5) 668.4
HERBALIFE NUTRIT HOO GR 2,853.0 (1,333.4) 488.4
HERBALIFE NUTRIT HLF US 2,853.0 (1,333.4) 488.4
HERBALIFE NUTRIT HLFEUR EU 2,853.0 (1,333.4) 488.4
HERBALIFE NUTRIT HOO QT 2,853.0 (1,333.4) 488.4
HERBALIFE NUTRIT HOO TH 2,853.0 (1,333.4) 488.4
HERBALIFE NUTRIT HOO GZ 2,853.0 (1,333.4) 488.4
HEWLETT-CEDEAR HPQ AR 35,523.0 (3,942.0) (7,064.0)
HEWLETT-CEDEAR HPQD AR 35,523.0 (3,942.0) (7,064.0)
HEWLETT-CEDEAR HPQC AR 35,523.0 (3,942.0) (7,064.0)
HILTON WORLD-BDR H1LT34 BZ 15,314.0 (1,128.0) 72.0
HILTON WORLDWIDE HI91 QT 15,314.0 (1,128.0) 72.0
HILTON WORLDWIDE HLT US 15,314.0 (1,128.0) 72.0
HILTON WORLDWIDE HI91 TH 15,314.0 (1,128.0) 72.0
HILTON WORLDWIDE HI91 GR 15,314.0 (1,128.0) 72.0
HILTON WORLDWIDE HLTEUR EZ 15,314.0 (1,128.0) 72.0
HILTON WORLDWIDE HLTW AV 15,314.0 (1,128.0) 72.0
HILTON WORLDWIDE HI91 TE 15,314.0 (1,128.0) 72.0
HILTON WORLDWIDE HLT* MM 15,314.0 (1,128.0) 72.0
HILTON WORLDWIDE HLTEUR EU 15,314.0 (1,128.0) 72.0
HILTON WORLDWIDE HI91 GZ 15,314.0 (1,128.0) 72.0
HILTON WORLDWIDE HLT-RM RM 15,314.0 (1,128.0) 72.0
HORIZON GLOBAL HZN US 468.3 (25.9) 115.3
HORIZON GLOBAL 2H6 GR 468.3 (25.9) 115.3
HORIZON GLOBAL HZN1EUR EU 468.3 (25.9) 115.3
HORIZON GLOBAL 2H6 GZ 468.3 (25.9) 115.3
HP COMPANY-BDR HPQB34 BZ 35,523.0 (3,942.0) (7,064.0)
HP INC HPQ TE 35,523.0 (3,942.0) (7,064.0)
HP INC 7HP TH 35,523.0 (3,942.0) (7,064.0)
HP INC 7HP GR 35,523.0 (3,942.0) (7,064.0)
HP INC HPQ US 35,523.0 (3,942.0) (7,064.0)
HP INC HPQ* MM 35,523.0 (3,942.0) (7,064.0)
HP INC HPQ SW 35,523.0 (3,942.0) (7,064.0)
HP INC 7HP QT 35,523.0 (3,942.0) (7,064.0)
HP INC HPQ CI 35,523.0 (3,942.0) (7,064.0)
HP INC HPQEUR EZ 35,523.0 (3,942.0) (7,064.0)
HP INC HPQ AV 35,523.0 (3,942.0) (7,064.0)
HP INC HPQUSD SW 35,523.0 (3,942.0) (7,064.0)
HP INC HPQEUR EU 35,523.0 (3,942.0) (7,064.0)
HP INC 7HP GZ 35,523.0 (3,942.0) (7,064.0)
HP INC HPQ-RM RM 35,523.0 (3,942.0) (7,064.0)
HUMANIGEN INC 0KB2 GR 77.9 (17.6) 9.1
HUMANIGEN INC HGEN US 77.9 (17.6) 9.1
HUMANIGEN INC HGENEUR EU 77.9 (17.6) 9.1
HUMANIGEN INC 0KB2 TH 77.9 (17.6) 9.1
HUMANIGEN INC 0KB2 QT 77.9 (17.6) 9.1
HUMANIGEN INC 0KB2 GZ 77.9 (17.6) 9.1
HYRECAR INC HYRE US 27.6 12.7 12.6
IMMUNITYBIO INC IBRX US 214.4 (189.9) 29.0
IMMUNITYBIO INC 26CA GR 214.4 (189.9) 29.0
IMMUNITYBIO INC NK1EUR EU 214.4 (189.9) 29.0
IMMUNITYBIO INC 26C GZ 214.4 (189.9) 29.0
IMMUNITYBIO INC NK1EUR EZ 214.4 (189.9) 29.0
IMMUNITYBIO INC 26CA TH 214.4 (189.9) 29.0
IMMUNITYBIO INC 26CA QT 214.4 (189.9) 29.0
INSEEGO CORP INSGEUR EZ 220.5 (15.3) 61.2
INSEEGO CORP INO TH 220.5 (15.3) 61.2
INSEEGO CORP INO QT 220.5 (15.3) 61.2
INSEEGO CORP INO GZ 220.5 (15.3) 61.2
INSEEGO CORP INSG US 220.5 (15.3) 61.2
INSEEGO CORP INO GR 220.5 (15.3) 61.2
INSEEGO CORP INSGEUR EU 220.5 (15.3) 61.2
INSPIRED ENTERTA INSE US 286.2 (151.7) (17.7)
INSPIRED ENTERTA 4U8 GR 286.2 (151.7) (17.7)
INSPIRED ENTERTA INSEEUR EU 286.2 (151.7) (17.7)
INSTADOSE PHARMA INSD US - (0.113) (0.113)
INTAPP INC INTA US 459.8 (13.4) (58.0)
INTERCEPT PHARMA I4P TH 523.1 (156.0) 352.5
INTERCEPT PHARMA ICPT US 523.1 (156.0) 352.5
INTERCEPT PHARMA I4P GR 523.1 (156.0) 352.5
INTERCEPT PHARMA ICPT* MM 523.1 (156.0) 352.5
INTERCEPT PHARMA I4P GZ 523.1 (156.0) 352.5
IWEB INC IWBB US 0.006 (0.208) (0.210)
J. JILL INC JILL US 469.5 (60.9) (13.8)
J. JILL INC 1MJ1 GR 469.5 (60.9) (13.8)
J. JILL INC JILLEUR EU 469.5 (60.9) (13.8)
J. JILL INC 1MJ1 GZ 469.5 (60.9) (13.8)
JACK IN THE BOX JBX GR 1,787.5 (811.6) (136.4)
JACK IN THE BOX JACK US 1,787.5 (811.6) (136.4)
JACK IN THE BOX JACK1EUR EU 1,787.5 (811.6) (136.4)
JACK IN THE BOX JACK1EUR EZ 1,787.5 (811.6) (136.4)
JACK IN THE BOX JBX GZ 1,787.5 (811.6) (136.4)
JACK IN THE BOX JBX QT 1,787.5 (811.6) (136.4)
KARYOPHARM THERA KPTI US 254.1 (126.0) 172.7
KARYOPHARM THERA 25K GR 254.1 (126.0) 172.7
KARYOPHARM THERA KPTIEUR EU 254.1 (126.0) 172.7
KARYOPHARM THERA 25K QT 254.1 (126.0) 172.7
KARYOPHARM THERA 25K GZ 254.1 (126.0) 172.7
KARYOPHARM THERA 25K TH 254.1 (126.0) 172.7
KARYOPHARM THERA 25K SW 254.1 (126.0) 172.7
KL ACQUISI-CLS A KLAQ US 288.8 264.5 0.7
KL ACQUISITION C KLAQU US 288.8 264.5 0.7
KNOWBE4 INC-A KNBE US 463.9 172.1 137.2
L BRANDS INC-BDR B1BW34 BZ 10,392.0 (1,188.0) 1,889.0
LDH GROWTH C-A LDHA US 233.0 213.1 2.3
LDH GROWTH CORP LDHAU US 233.0 213.1 2.3
LEGALZOOMCOM INC LZ US 434.5 191.0 100.2
LEGALZOOMCOM INC 1LZ GR 434.5 191.0 100.2
LEGALZOOMCOM INC 1LZ GZ 434.5 191.0 100.2
LEGALZOOMCOM INC LZEUR EU 434.5 191.0 100.2
LEGALZOOMCOM INC 1LZ TH 434.5 191.0 100.2
LEGALZOOMCOM INC 1LZ QT 434.5 191.0 100.2
LENNOX INTL INC LII US 2,123.5 (334.8) 84.5
LENNOX INTL INC LXI GR 2,123.5 (334.8) 84.5
LENNOX INTL INC LII* MM 2,123.5 (334.8) 84.5
LENNOX INTL INC LXI TH 2,123.5 (334.8) 84.5
LENNOX INTL INC LII1EUR EU 2,123.5 (334.8) 84.5
LESLIE'S INC LESL US 997.8 (265.7) 255.9
LESLIE'S INC LE3 GR 997.8 (265.7) 255.9
LESLIE'S INC LESLEUR EU 997.8 (265.7) 255.9
LESLIE'S INC LE3 TH 997.8 (265.7) 255.9
LESLIE'S INC LE3 QT 997.8 (265.7) 255.9
LI-METAL CORP LIM CN 0.012 (1.803) (1.803)
LI-METAL CORP 5ZO GR 0.012 (1.803) (1.803)
LI-METAL CORP LIMEUR EU 0.012 (1.803) (1.803)
LIFESPEAK INC LSPK CN 11.8 (30.2) (5.7)
LION ELECTRIC CO LEV US - - -
LION ELECTRIC CO LEV CN - - -
LION ELECTRIC CO 70U TH - - -
LION ELECTRIC CO LEVEUR EU - - -
LION ELECTRIC CO 70U GR - - -
LION ELECTRIC CO 70U QT - - -
LOWE'S COS INC LWE TH 49,404.0 (175.0) 3,419.0
LOWE'S COS INC LWE QT 49,404.0 (175.0) 3,419.0
LOWE'S COS INC LOWEUR EU 49,404.0 (175.0) 3,419.0
LOWE'S COS INC LWE GR 49,404.0 (175.0) 3,419.0
LOWE'S COS INC LOW US 49,404.0 (175.0) 3,419.0
LOWE'S COS INC LOWE AV 49,404.0 (175.0) 3,419.0
LOWE'S COS INC LOWEUR EZ 49,404.0 (175.0) 3,419.0
LOWE'S COS INC LWE TE 49,404.0 (175.0) 3,419.0
LOWE'S COS INC LWE GZ 49,404.0 (175.0) 3,419.0
LOWE'S COS INC LOW* MM 49,404.0 (175.0) 3,419.0
LOWE'S COS INC LOW-RM RM 49,404.0 (175.0) 3,419.0
LOWE'S COS-BDR LOWC34 BZ 49,404.0 (175.0) 3,419.0
MADISON SQUARE G MSGS US 1,327.9 (232.2) (263.8)
MADISON SQUARE G MS8 GR 1,327.9 (232.2) (263.8)
MADISON SQUARE G MSG1EUR EU 1,327.9 (232.2) (263.8)
MADISON SQUARE G MS8 TH 1,327.9 (232.2) (263.8)
MADISON SQUARE G MS8 QT 1,327.9 (232.2) (263.8)
MADISON SQUARE G MS8 GZ 1,327.9 (232.2) (263.8)
MAGNET FORENSICS MAGT CN 148.9 86.7 82.3
MAGNET FORENSICS 91T GR 148.9 86.7 82.3
MAGNET FORENSICS MAGTEUR EU 148.9 86.7 82.3
MAGNET FORENSICS MAGTF US 148.9 86.7 82.3
MANNKIND CORP NNFN TH 238.2 (184.7) 109.2
MANNKIND CORP MNKD US 238.2 (184.7) 109.2
MANNKIND CORP NNFN GR 238.2 (184.7) 109.2
MANNKIND CORP MNKDEUR EU 238.2 (184.7) 109.2
MANNKIND CORP NNFN QT 238.2 (184.7) 109.2
MANNKIND CORP MNKDEUR EZ 238.2 (184.7) 109.2
MANNKIND CORP NNFN GZ 238.2 (184.7) 109.2
MARKETWISE INC MKTW US 403.4 (441.9) (198.5)
MATCH GROUP -BDR M1TC34 BZ 4,893.6 (59.5) 304.1
MATCH GROUP INC MTCH US 4,893.6 (59.5) 304.1
MATCH GROUP INC 4MGN TH 4,893.6 (59.5) 304.1
MATCH GROUP INC MTCH1* MM 4,893.6 (59.5) 304.1
MATCH GROUP INC 4MGN QT 4,893.6 (59.5) 304.1
MATCH GROUP INC 4MGN GR 4,893.6 (59.5) 304.1
MATCH GROUP INC MTC2 AV 4,893.6 (59.5) 304.1
MATCH GROUP INC 4MGN GZ 4,893.6 (59.5) 304.1
MBIA INC MBJ TH 4,816.0 (157.0) -
MBIA INC MBI US 4,816.0 (157.0) -
MBIA INC MBJ GR 4,816.0 (157.0) -
MBIA INC MBJ QT 4,816.0 (157.0) -
MBIA INC MBI1EUR EZ 4,816.0 (157.0) -
MBIA INC MBI1EUR EU 4,816.0 (157.0) -
MBIA INC MBJ GZ 4,816.0 (157.0) -
MCAFEE CORP - A MCFE US 3,484.0 (1,765.0) (398.0)
MCAFEE CORP - A MC7 GR 3,484.0 (1,765.0) (398.0)
MCAFEE CORP - A MCFEEUR EU 3,484.0 (1,765.0) (398.0)
MCAFEE CORP - A MC7 TH 3,484.0 (1,765.0) (398.0)
MCDONALDS - BDR MCDC34 BZ 52,727.0 (5,675.0) 1,700.3
MCDONALDS CORP MDO TH 52,727.0 (5,675.0) 1,700.3
MCDONALDS CORP MCD SW 52,727.0 (5,675.0) 1,700.3
MCDONALDS CORP MCD US 52,727.0 (5,675.0) 1,700.3
MCDONALDS CORP MCD* MM 52,727.0 (5,675.0) 1,700.3
MCDONALDS CORP MDO GR 52,727.0 (5,675.0) 1,700.3
MCDONALDS CORP MCD TE 52,727.0 (5,675.0) 1,700.3
MCDONALDS CORP MDO QT 52,727.0 (5,675.0) 1,700.3
MCDONALDS CORP MCD CI 52,727.0 (5,675.0) 1,700.3
MCDONALDS CORP MCDEUR EZ 52,727.0 (5,675.0) 1,700.3
MCDONALDS CORP 0R16 LN 52,727.0 (5,675.0) 1,700.3
MCDONALDS CORP MCD AV 52,727.0 (5,675.0) 1,700.3
MCDONALDS CORP MCDUSD SW 52,727.0 (5,675.0) 1,700.3
MCDONALDS CORP MCDEUR EU 52,727.0 (5,675.0) 1,700.3
MCDONALDS CORP MDO GZ 52,727.0 (5,675.0) 1,700.3
MCDONALDS CORP MCD-RM RM 52,727.0 (5,675.0) 1,700.3
MCDONALDS CORP MCDCL CI 52,727.0 (5,675.0) 1,700.3
MCDONALDS-CEDEAR MCD AR 52,727.0 (5,675.0) 1,700.3
MCDONALDS-CEDEAR MCDC AR 52,727.0 (5,675.0) 1,700.3
MCDONALDS-CEDEAR MCDD AR 52,727.0 (5,675.0) 1,700.3
MCKESSON CORP MCK TH 63,601.0 (87.0) (495.0)
MCKESSON CORP MCK1EUR EU 63,601.0 (87.0) (495.0)
MCKESSON CORP MCK QT 63,601.0 (87.0) (495.0)
MCKESSON CORP MCK GR 63,601.0 (87.0) (495.0)
MCKESSON CORP MCK US 63,601.0 (87.0) (495.0)
MCKESSON CORP MCK* MM 63,601.0 (87.0) (495.0)
MCKESSON CORP MCK1EUR EZ 63,601.0 (87.0) (495.0)
MCKESSON CORP MCK GZ 63,601.0 (87.0) (495.0)
MCKESSON-BDR M1CK34 BZ 63,601.0 (87.0) (495.0)
MEDIAALPHA INC-A MAX US 245.5 (72.9) 46.6
MELI KASZEK PI-A MEKA US 10.7 (55.9) (6.6)
METAMATERIAL EXC MMAX CN 15.0 (1.6) 2.6
METAMATERIAL EXC CZQEUR EU 15.0 (1.6) 2.6
METROMILE INC MILE US 202.2 (57.0) -
MINERVA SURGICAL UTRS US 85.2 (122.1) (10.9)
MIROMATRIX MEDIC MIRO US 67.1 63.4 64.3
MONEYGRAM INTERN 9M1N GR 4,483.9 (185.9) 18.3
MONEYGRAM INTERN 9M1N QT 4,483.9 (185.9) 18.3
MONEYGRAM INTERN MGI US 4,483.9 (185.9) 18.3
MONEYGRAM INTERN MGIEUR EZ 4,483.9 (185.9) 18.3
MONEYGRAM INTERN 9M1N TH 4,483.9 (185.9) 18.3
MONEYGRAM INTERN MGIEUR EU 4,483.9 (185.9) 18.3
MOTOROLA SOL-BDR M1SI34 BZ 11,422.0 (248.0) 1,306.0
MOTOROLA SOL-CED MSI AR 11,422.0 (248.0) 1,306.0
MOTOROLA SOLUTIO MTLA GR 11,422.0 (248.0) 1,306.0
MOTOROLA SOLUTIO MOT TE 11,422.0 (248.0) 1,306.0
MOTOROLA SOLUTIO MSI US 11,422.0 (248.0) 1,306.0
MOTOROLA SOLUTIO MTLA TH 11,422.0 (248.0) 1,306.0
MOTOROLA SOLUTIO MTLA QT 11,422.0 (248.0) 1,306.0
MOTOROLA SOLUTIO MSI1EUR EZ 11,422.0 (248.0) 1,306.0
MOTOROLA SOLUTIO MOSI AV 11,422.0 (248.0) 1,306.0
MOTOROLA SOLUTIO MSI1EUR EU 11,422.0 (248.0) 1,306.0
MOTOROLA SOLUTIO MTLA GZ 11,422.0 (248.0) 1,306.0
MSCI INC 3HM GR 5,142.7 (280.0) 830.4
MSCI INC MSCI US 5,142.7 (280.0) 830.4
MSCI INC 3HM GZ 5,142.7 (280.0) 830.4
MSCI INC MSCIEUR EZ 5,142.7 (280.0) 830.4
MSCI INC 3HM SW 5,142.7 (280.0) 830.4
MSCI INC MSCI* MM 5,142.7 (280.0) 830.4
MSCI INC 3HM QT 5,142.7 (280.0) 830.4
MSCI INC 3HM TH 5,142.7 (280.0) 830.4
MSCI INC MSCI PE 5,142.7 (280.0) 830.4
MSCI INC MSCI AV 5,142.7 (280.0) 830.4
MSCI INC MSCI-RM RM 5,142.7 (280.0) 830.4
MSCI INC-BDR M1SC34 BZ 5,142.7 (280.0) 830.4
MUDRICK CAP ACQ MUDSU US 321.3 (33.8) (4.7)
MUDRICK CAPITA-A MUDS US 321.3 (33.8) (4.7)
NATHANS FAMOUS NATH US 116.5 (56.0) 87.3
NATHANS FAMOUS NFA GR 116.5 (56.0) 87.3
NATHANS FAMOUS NATHEUR EU 116.5 (56.0) 87.3
NATIONAL CINEMED NCMI US 820.1 (385.2) 92.2
NATIONAL CINEMED XWM GR 820.1 (385.2) 92.2
NATIONAL CINEMED NCMIEUR EU 820.1 (385.2) 92.2
NEIGHBOURLY PHAR NBLY CN 514.2 318.1 84.8
NEUROPACE INC NPCE US 141.3 81.7 131.8
NEW ENG RLTY-LP NEN US 288.9 (44.8) -
NEXIMMUNE INC NEXI US 104.5 97.1 91.3
NEXIMMUNE INC 737 GR 104.5 97.1 91.3
NEXIMMUNE INC NEXI1EUR EU 104.5 97.1 91.3
NEXIMMUNE INC 737 GZ 104.5 97.1 91.3
NOBLE CORP NE US 2,094.8 1,366.7 179.4
NOBLE CORP 85V0 GR 2,094.8 1,366.7 179.4
NOBLE CORP NE1EUR EU 2,094.8 1,366.7 179.4
NOBLE CORP 85V0 QT 2,094.8 1,366.7 179.4
NOBLE ROCK ACQ-A NRAC US 243.3 223.0 1.6
NOBLE ROCK ACQUI NRACU US 243.3 223.0 1.6
NORTHERN OIL AND 4LT1 GR 1,244.1 (157.7) (187.6)
NORTHERN OIL AND NOG US 1,244.1 (157.7) (187.6)
NORTHERN OIL AND NOG1EUR EU 1,244.1 (157.7) (187.6)
NORTHERN OIL AND 4LT1 TH 1,244.1 (157.7) (187.6)
NORTHERN OIL AND 4LT1 GZ 1,244.1 (157.7) (187.6)
NORTONLIFEL- BDR S1YM34 BZ 6,733.0 (232.0) (864.0)
NORTONLIFELOCK I NLOK US 6,733.0 (232.0) (864.0)
NORTONLIFELOCK I SYM TH 6,733.0 (232.0) (864.0)
NORTONLIFELOCK I SYM GR 6,733.0 (232.0) (864.0)
NORTONLIFELOCK I SYMC TE 6,733.0 (232.0) (864.0)
NORTONLIFELOCK I SYM QT 6,733.0 (232.0) (864.0)
NORTONLIFELOCK I SYMCEUR EZ 6,733.0 (232.0) (864.0)
NORTONLIFELOCK I SYMC AV 6,733.0 (232.0) (864.0)
NORTONLIFELOCK I NLOK* MM 6,733.0 (232.0) (864.0)
NORTONLIFELOCK I SYMCEUR EU 6,733.0 (232.0) (864.0)
NORTONLIFELOCK I SYM GZ 6,733.0 (232.0) (864.0)
NORTONLIFELOCK I NLOK-RM RM 6,733.0 (232.0) (864.0)
NRX PHARMACEUTIC NRXP US 18.5 (17.4) (16.9)
NRX PHARMACEUTIC B1QB GR 18.5 (17.4) (16.9)
NRX PHARMACEUTIC BRPAEUR EU 18.5 (17.4) (16.9)
NRX PHARMACEUTIC BRPAEUR EZ 18.5 (17.4) (16.9)
NRX PHARMACEUTIC B1QB GZ 18.5 (17.4) (16.9)
NRX PHARMACEUTIC B1QB TH 18.5 (17.4) (16.9)
NRX PHARMACEUTIC B1QB QT 18.5 (17.4) (16.9)
NUTANIX INC - A NTNX US 2,277.5 (1,012.0) 634.4
NUTANIX INC - A NTNXEUR EZ 2,277.5 (1,012.0) 634.4
NUTANIX INC - A 0NU GZ 2,277.5 (1,012.0) 634.4
NUTANIX INC - A 0NU GR 2,277.5 (1,012.0) 634.4
NUTANIX INC - A NTNXEUR EU 2,277.5 (1,012.0) 634.4
NUTANIX INC - A 0NU TH 2,277.5 (1,012.0) 634.4
NUTANIX INC - A 0NU QT 2,277.5 (1,012.0) 634.4
NUVVE HOLDING CO NVVE US 102.1 94.8 49.9
O'REILLY AUT-BDR ORLY34 BZ 11,789.4 (140.9) (1,427.5)
O'REILLY AUTOMOT OM6 TH 11,789.4 (140.9) (1,427.5)
O'REILLY AUTOMOT OM6 QT 11,789.4 (140.9) (1,427.5)
O'REILLY AUTOMOT ORLY* MM 11,789.4 (140.9) (1,427.5)
O'REILLY AUTOMOT OM6 GR 11,789.4 (140.9) (1,427.5)
O'REILLY AUTOMOT ORLY US 11,789.4 (140.9) (1,427.5)
O'REILLY AUTOMOT ORLYEUR EZ 11,789.4 (140.9) (1,427.5)
O'REILLY AUTOMOT ORLY AV 11,789.4 (140.9) (1,427.5)
O'REILLY AUTOMOT ORLYEUR EU 11,789.4 (140.9) (1,427.5)
O'REILLY AUTOMOT OM6 GZ 11,789.4 (140.9) (1,427.5)
OMEROS CORP OMER US 123.4 (262.7) 48.5
OMEROS CORP 3O8 GR 123.4 (262.7) 48.5
OMEROS CORP 3O8 TH 123.4 (262.7) 48.5
OMEROS CORP OMEREUR EU 123.4 (262.7) 48.5
OMEROS CORP 3O8 QT 123.4 (262.7) 48.5
OMEROS CORP 3O8 GZ 123.4 (262.7) 48.5
ONCOLOGY PHARMA ONPH US 0.0 (0.4) (0.4)
ORACLE BDR ORCL34 BZ 122,924.0 (1,130.0) 24,046.0
ORACLE CO-CEDEAR ORCLC AR 122,924.0 (1,130.0) 24,046.0
ORACLE CO-CEDEAR ORCL AR 122,924.0 (1,130.0) 24,046.0
ORACLE CO-CEDEAR ORCLD AR 122,924.0 (1,130.0) 24,046.0
ORACLE CORP ORCL* MM 122,924.0 (1,130.0) 24,046.0
ORACLE CORP ORC GR 122,924.0 (1,130.0) 24,046.0
ORACLE CORP ORCL US 122,924.0 (1,130.0) 24,046.0
ORACLE CORP ORC TH 122,924.0 (1,130.0) 24,046.0
ORACLE CORP ORCL TE 122,924.0 (1,130.0) 24,046.0
ORACLE CORP ORCL SW 122,924.0 (1,130.0) 24,046.0
ORACLE CORP ORCLEUR EU 122,924.0 (1,130.0) 24,046.0
ORACLE CORP ORC QT 122,924.0 (1,130.0) 24,046.0
ORACLE CORP ORCL CI 122,924.0 (1,130.0) 24,046.0
ORACLE CORP ORCLEUR EZ 122,924.0 (1,130.0) 24,046.0
ORACLE CORP 0R1Z LN 122,924.0 (1,130.0) 24,046.0
ORACLE CORP ORCL AV 122,924.0 (1,130.0) 24,046.0
ORACLE CORP ORCLUSD SW 122,924.0 (1,130.0) 24,046.0
ORACLE CORP ORC GZ 122,924.0 (1,130.0) 24,046.0
ORACLE CORP ORCLCL CI 122,924.0 (1,130.0) 24,046.0
ORACLE CORP ORCL-RM RM 122,924.0 (1,130.0) 24,046.0
ORGANON & CO OGN US 10,908.0 (1,934.0) 936.0
ORGANON & CO OGN-WEUR EU 10,908.0 (1,934.0) 936.0
ORGANON & CO 7XP TH 10,908.0 (1,934.0) 936.0
ORGANON & CO 7XP GR 10,908.0 (1,934.0) 936.0
ORGANON & CO OGN* MM 10,908.0 (1,934.0) 936.0
ORGANON & CO 7XP GZ 10,908.0 (1,934.0) 936.0
ORGANON & CO 7XP QT 10,908.0 (1,934.0) 936.0
ORGANON & CO OGN-RM RM 10,908.0 (1,934.0) 936.0
ORTHO CLINCICAL OCDX US 3,309.9 396.9 456.0
ORTHO CLINCICAL OCDXEUR EU 3,309.9 396.9 456.0
ORTHO CLINCICAL 41V TH 3,309.9 396.9 456.0
OTIS WORLDWI OTIS US 10,472.0 (3,233.0) 12.0
OTIS WORLDWI 4PG GR 10,472.0 (3,233.0) 12.0
OTIS WORLDWI OTISEUR EZ 10,472.0 (3,233.0) 12.0
OTIS WORLDWI OTISEUR EU 10,472.0 (3,233.0) 12.0
OTIS WORLDWI 4PG GZ 10,472.0 (3,233.0) 12.0
OTIS WORLDWI OTIS* MM 10,472.0 (3,233.0) 12.0
OTIS WORLDWI 4PG TH 10,472.0 (3,233.0) 12.0
OTIS WORLDWI 4PG QT 10,472.0 (3,233.0) 12.0
OTIS WORLDWI OTIS AV 10,472.0 (3,233.0) 12.0
OTIS WORLDWI OTIS-RM RM 10,472.0 (3,233.0) 12.0
OTIS WORLDWI-BDR O1TI34 BZ 10,472.0 (3,233.0) 12.0
PANAMERA HOLDING PHCI US 0.0 (0.1) (0.1)
PAPA JOHN'S INTL PZZA US 890.0 (129.5) (46.4)
PAPA JOHN'S INTL PP1 GR 890.0 (129.5) (46.4)
PAPA JOHN'S INTL PP1 GZ 890.0 (129.5) (46.4)
PAPA JOHN'S INTL PZZAEUR EU 890.0 (129.5) (46.4)
PAPA JOHN'S INTL PP1 TH 890.0 (129.5) (46.4)
PAPA JOHN'S INTL PZZAEUR EZ 890.0 (129.5) (46.4)
PAPA JOHN'S INTL PP1 QT 890.0 (129.5) (46.4)
PARATEK PHARMACE PRTK US 182.3 (105.0) 123.9
PARATEK PHARMACE N4CN GR 182.3 (105.0) 123.9
PARATEK PHARMACE N4CN TH 182.3 (105.0) 123.9
PARATEK PHARMACE N4CN GZ 182.3 (105.0) 123.9
PET VALU HOLDING PET CN 533.6 (152.2) 36.2
PHASEBIO PHARMAC PHAS US 77.7 (50.3) 43.8
PHASEBIO PHARMAC 2K4 GR 77.7 (50.3) 43.8
PHASEBIO PHARMAC 2K4 TH 77.7 (50.3) 43.8
PHASEBIO PHARMAC 2K4 QT 77.7 (50.3) 43.8
PHASEBIO PHARMAC PHASEUR EU 77.7 (50.3) 43.8
PHASEBIO PHARMAC 2K4 GZ 77.7 (50.3) 43.8
PHILIP MORRI-BDR PHMO34 BZ 41,589.0 (8,632.0) (31.0)
PHILIP MORRIS IN PM US 41,589.0 (8,632.0) (31.0)
PHILIP MORRIS IN 4I1 GR 41,589.0 (8,632.0) (31.0)
PHILIP MORRIS IN PM1CHF EU 41,589.0 (8,632.0) (31.0)
PHILIP MORRIS IN PM1 TE 41,589.0 (8,632.0) (31.0)
PHILIP MORRIS IN 4I1 TH 41,589.0 (8,632.0) (31.0)
PHILIP MORRIS IN PM1EUR EU 41,589.0 (8,632.0) (31.0)
PHILIP MORRIS IN PMI SW 41,589.0 (8,632.0) (31.0)
PHILIP MORRIS IN 4I1 QT 41,589.0 (8,632.0) (31.0)
PHILIP MORRIS IN PM1CHF EZ 41,589.0 (8,632.0) (31.0)
PHILIP MORRIS IN PM1EUR EZ 41,589.0 (8,632.0) (31.0)
PHILIP MORRIS IN PMIZ EB 41,589.0 (8,632.0) (31.0)
PHILIP MORRIS IN PMIZ IX 41,589.0 (8,632.0) (31.0)
PHILIP MORRIS IN PM* MM 41,589.0 (8,632.0) (31.0)
PHILIP MORRIS IN 0M8V LN 41,589.0 (8,632.0) (31.0)
PHILIP MORRIS IN PMOR AV 41,589.0 (8,632.0) (31.0)
PHILIP MORRIS IN 4I1 GZ 41,589.0 (8,632.0) (31.0)
PHILIP MORRIS IN PMIZ TQ 41,589.0 (8,632.0) (31.0)
PHILIP MORRIS IN PM-RM RM 41,589.0 (8,632.0) (31.0)
PLANET FITNESS I P2LN34 BZ 1,949.7 (658.4) 468.9
PLANET FITNESS-A PLNT US 1,949.7 (658.4) 468.9
PLANET FITNESS-A 3PL TH 1,949.7 (658.4) 468.9
PLANET FITNESS-A 3PL GR 1,949.7 (658.4) 468.9
PLANET FITNESS-A PLNT1EUR EZ 1,949.7 (658.4) 468.9
PLANET FITNESS-A 3PL QT 1,949.7 (658.4) 468.9
PLANET FITNESS-A PLNT1EUR EU 1,949.7 (658.4) 468.9
PLANET FITNESS-A 3PL GZ 1,949.7 (658.4) 468.9
POTBELLY CORP PBPB US 256.8 (0.3) (44.6)
PPD INC PPD US 7,028.0 (386.7) 630.5
PROJECT ENERGY R PEGRU US 0.503 (0.006) -
PUMA BIOTECHNOLO PBYI US 226.3 (10.9) 20.7
PUMA BIOTECHNOLO 0PB GR 226.3 (10.9) 20.7
QUALTRICS INT-A XM US 1,442.6 18.9 274.6
QUALTRICS INT-A 5DX0 QT 1,442.6 18.9 274.6
QUALTRICS INT-A 5DX0 GR 1,442.6 18.9 274.6
QUALTRICS INT-A 5DX0 GZ 1,442.6 18.9 274.6
QUALTRICS INT-A XM1EUR EU 1,442.6 18.9 274.6
QUALTRICS INT-A 5DX0 TH 1,442.6 18.9 274.6
QUANTUM CORP QNT2 GR 198.5 (116.0) (2.3)
QUANTUM CORP QMCO US 198.5 (116.0) (2.3)
QUANTUM CORP QTM1EUR EU 198.5 (116.0) (2.3)
QUANTUM CORP QNT2 TH 198.5 (116.0) (2.3)
RADIUS HEALTH IN RDUS US 186.2 (242.5) 87.4
RADIUS HEALTH IN 1R8 TH 186.2 (242.5) 87.4
RADIUS HEALTH IN 1R8 QT 186.2 (242.5) 87.4
RADIUS HEALTH IN RDUSEUR EU 186.2 (242.5) 87.4
RADIUS HEALTH IN 1R8 GR 186.2 (242.5) 87.4
RADIUS HEALTH IN RDUSEUR EZ 186.2 (242.5) 87.4
RAPID7 INC RPD US 1,260.9 (105.0) 17.4
RAPID7 INC R7D GR 1,260.9 (105.0) 17.4
RAPID7 INC R7D SW 1,260.9 (105.0) 17.4
RAPID7 INC R7D TH 1,260.9 (105.0) 17.4
RAPID7 INC RPDEUR EU 1,260.9 (105.0) 17.4
RAPID7 INC RPD* MM 1,260.9 (105.0) 17.4
RAPID7 INC R7D GZ 1,260.9 (105.0) 17.4
RCF ACQUISITION RCFA/U US 0.359 (0.009) (0.368)
RENT THE RUNWA-A RENT US - - -
REVLON INC-A RVL1 GR 2,448.2 (2,066.3) 248.3
REVLON INC-A REV US 2,448.2 (2,066.3) 248.3
REVLON INC-A REV* MM 2,448.2 (2,066.3) 248.3
REVLON INC-A RVL1 TH 2,448.2 (2,066.3) 248.3
REVLON INC-A REVEUR EU 2,448.2 (2,066.3) 248.3
RIMINI STREET IN RMNI US 256.7 (160.2) (64.2)
RIMINI STREET IN 0QH GR 256.7 (160.2) (64.2)
RIMINI STREET IN RMNIEUR EU 256.7 (160.2) (64.2)
RIMINI STREET IN 0QH QT 256.7 (160.2) (64.2)
ROCKLEY PHOTONIC RKLY US 93.9 53.3 (2.0)
RR DONNELLEY & S DLLN TH 3,093.4 (223.6) 502.9
RR DONNELLEY & S RRD US 3,093.4 (223.6) 502.9
RR DONNELLEY & S DLLN GR 3,093.4 (223.6) 502.9
RR DONNELLEY & S RRDEUR EU 3,093.4 (223.6) 502.9
RR DONNELLEY & S DLLN GZ 3,093.4 (223.6) 502.9
RYMAN HOSPITALIT RHP US 3,537.8 (27.1) (6.8)
RYMAN HOSPITALIT 4RH GR 3,537.8 (27.1) (6.8)
RYMAN HOSPITALIT 4RH TH 3,537.8 (27.1) (6.8)
RYMAN HOSPITALIT 4RH QT 3,537.8 (27.1) (6.8)
RYMAN HOSPITALIT RHPEUR EZ 3,537.8 (27.1) (6.8)
RYMAN HOSPITALIT RHPEUR EU 3,537.8 (27.1) (6.8)
SABRE CORP SABR US 5,442.9 (355.1) 830.9
SABRE CORP 19S GR 5,442.9 (355.1) 830.9
SABRE CORP 19S TH 5,442.9 (355.1) 830.9
SABRE CORP SABREUR EZ 5,442.9 (355.1) 830.9
SABRE CORP 19S QT 5,442.9 (355.1) 830.9
SABRE CORP SABREUR EU 5,442.9 (355.1) 830.9
SABRE CORP 19S GZ 5,442.9 (355.1) 830.9
SBA COMM CORP SBACEUR EU 9,668.1 (4,943.1) (188.2)
SBA COMM CORP 4SB QT 9,668.1 (4,943.1) (188.2)
SBA COMM CORP 4SB GR 9,668.1 (4,943.1) (188.2)
SBA COMM CORP SBAC US 9,668.1 (4,943.1) (188.2)
SBA COMM CORP 4SB TH 9,668.1 (4,943.1) (188.2)
SBA COMM CORP SBACEUR EZ 9,668.1 (4,943.1) (188.2)
SBA COMM CORP SBAC* MM 9,668.1 (4,943.1) (188.2)
SBA COMM CORP 4SB GZ 9,668.1 (4,943.1) (188.2)
SBA COMMUN - BDR S1BA34 BZ 9,668.1 (4,943.1) (188.2)
SCIENTIFIC GAMES TJW TH 7,850.0 (2,191.0) 1,077.0
SCIENTIFIC GAMES TJW GZ 7,850.0 (2,191.0) 1,077.0
SCIENTIFIC GAMES SGMS US 7,850.0 (2,191.0) 1,077.0
SCIENTIFIC GAMES TJW GR 7,850.0 (2,191.0) 1,077.0
SCIENTIFIC GAMES SGMS1EUR EU 7,850.0 (2,191.0) 1,077.0
SCIENTIFIC GAMES SGMS1EUR EZ 7,850.0 (2,191.0) 1,077.0
SCIENTIFIC GAMES TJW QT 7,850.0 (2,191.0) 1,077.0
SELECTA BIOSCIEN SELB US 167.2 (18.7) 56.2
SELECTA BIOSCIEN 1S7 GR 167.2 (18.7) 56.2
SELECTA BIOSCIEN SELBEUR EU 167.2 (18.7) 56.2
SELECTA BIOSCIEN 1S7 TH 167.2 (18.7) 56.2
SELECTA BIOSCIEN 1S7 GZ 167.2 (18.7) 56.2
SENSEONICS HLDGS SENS US 219.6 (266.6) 138.2
SENSEONICS HLDGS 6L6 TH 219.6 (266.6) 138.2
SENSEONICS HLDGS 6L6 GR 219.6 (266.6) 138.2
SENSEONICS HLDGS SENS1EUR EU 219.6 (266.6) 138.2
SENSEONICS HLDGS 6L6 GZ 219.6 (266.6) 138.2
SHARECARE INC SHCR US 783.7 608.5 336.5
SHARECARE INC 8DJ0 GR 783.7 608.5 336.5
SHARECARE INC SHCREUR EU 783.7 608.5 336.5
SHELL MIDSTREAM SHLX US 2,329.0 (469.0) 352.0
SHOALS TECHNOL-A SHLS US 382.8 (11.1) 73.1
SIENTRA INC SIEN US 186.7 40.8 75.1
SIENTRA INC S0Z GR 186.7 40.8 75.1
SIENTRA INC SIEN3EUR EU 186.7 40.8 75.1
SINCLAIR BROAD-A SBGI US 12,845.0 (1,366.0) 1,652.0
SINCLAIR BROAD-A SBTA GR 12,845.0 (1,366.0) 1,652.0
SINCLAIR BROAD-A SBTA TH 12,845.0 (1,366.0) 1,652.0
SINCLAIR BROAD-A SBTA QT 12,845.0 (1,366.0) 1,652.0
SINCLAIR BROAD-A SBGIEUR EU 12,845.0 (1,366.0) 1,652.0
SINCLAIR BROAD-A SBTA GZ 12,845.0 (1,366.0) 1,652.0
SIRIUS XM HO-BDR SRXM34 BZ 10,094.0 (2,555.0) (1,796.0)
SIRIUS XM HOLDIN SIRI US 10,094.0 (2,555.0) (1,796.0)
SIRIUS XM HOLDIN RDO GR 10,094.0 (2,555.0) (1,796.0)
SIRIUS XM HOLDIN RDO TH 10,094.0 (2,555.0) (1,796.0)
SIRIUS XM HOLDIN RDO QT 10,094.0 (2,555.0) (1,796.0)
SIRIUS XM HOLDIN SIRIEUR EZ 10,094.0 (2,555.0) (1,796.0)
SIRIUS XM HOLDIN SIRI AV 10,094.0 (2,555.0) (1,796.0)
SIRIUS XM HOLDIN SIRIEUR EU 10,094.0 (2,555.0) (1,796.0)
SIRIUS XM HOLDIN RDO GZ 10,094.0 (2,555.0) (1,796.0)
SIX FLAGS ENTERT 6FE GR 3,054.9 (357.8) 99.8
SIX FLAGS ENTERT SIX US 3,054.9 (357.8) 99.8
SIX FLAGS ENTERT 6FE QT 3,054.9 (357.8) 99.8
SIX FLAGS ENTERT 6FE TH 3,054.9 (357.8) 99.8
SIX FLAGS ENTERT SIXEUR EU 3,054.9 (357.8) 99.8
SKYWATER TECHNOL SKYT US 271.7 85.1 23.1
SLEEP NUMBER COR SNBR US 883.6 (440.1) (695.6)
SLEEP NUMBER COR SL2 GR 883.6 (440.1) (695.6)
SLEEP NUMBER COR SNBREUR EU 883.6 (440.1) (695.6)
SLEEP NUMBER COR SL2 TH 883.6 (440.1) (695.6)
SLEEP NUMBER COR SL2 QT 883.6 (440.1) (695.6)
SLEEP NUMBER COR SL2 GZ 883.6 (440.1) (695.6)
SOFTCHOICE CORP SFTC CN 513.3 45.8 (36.6)
SOFTCHOICE CORP 90Q GR 513.3 45.8 (36.6)
SOFTCHOICE CORP SFTCEUR EU 513.3 45.8 (36.6)
SOFTCHOICE CORP 90Q GZ 513.3 45.8 (36.6)
SOUTHWESTRN ENGY SW5 TH 9,241.0 (286.0) (3,260.0)
SOUTHWESTRN ENGY SW5 GR 9,241.0 (286.0) (3,260.0)
SOUTHWESTRN ENGY SWN US 9,241.0 (286.0) (3,260.0)
SOUTHWESTRN ENGY SWN1EUR EU 9,241.0 (286.0) (3,260.0)
SOUTHWESTRN ENGY SW5 QT 9,241.0 (286.0) (3,260.0)
SOUTHWESTRN ENGY SWN1EUR EZ 9,241.0 (286.0) (3,260.0)
SOUTHWESTRN ENGY SW5 GZ 9,241.0 (286.0) (3,260.0)
SOUTHWESTRN ENGY SWN-RM RM 9,241.0 (286.0) (3,260.0)
SPRAGUE RESOURCE SRLP US 1,231.6 (101.9) (139.0)
SQUARESPACE -BDR S2QS34 BZ 905.8 (15.9) (41.3)
SQUARESPACE IN-A SQSP US 905.8 (15.9) (41.3)
SQUARESPACE IN-A 8DT GZ 905.8 (15.9) (41.3)
SQUARESPACE IN-A 8DT GR 905.8 (15.9) (41.3)
SQUARESPACE IN-A SQSPEUR EU 905.8 (15.9) (41.3)
SQUARESPACE IN-A 8DT TH 905.8 (15.9) (41.3)
SQUARESPACE IN-A 8DT QT 905.8 (15.9) (41.3)
STARBUCKS CORP SBUX* MM 31,392.6 (5,314.5) 1,605.0
STARBUCKS CORP SRB GR 31,392.6 (5,314.5) 1,605.0
STARBUCKS CORP SRB TH 31,392.6 (5,314.5) 1,605.0
STARBUCKS CORP SBUX SW 31,392.6 (5,314.5) 1,605.0
STARBUCKS CORP SRB QT 31,392.6 (5,314.5) 1,605.0
STARBUCKS CORP SBUX US 31,392.6 (5,314.5) 1,605.0
STARBUCKS CORP SBUX CI 31,392.6 (5,314.5) 1,605.0
STARBUCKS CORP TCXSBU AU 31,392.6 (5,314.5) 1,605.0
STARBUCKS CORP USSBUX KZ 31,392.6 (5,314.5) 1,605.0
STARBUCKS CORP SBUXEUR EZ 31,392.6 (5,314.5) 1,605.0
STARBUCKS CORP 0QZH LI 31,392.6 (5,314.5) 1,605.0
STARBUCKS CORP SBUX AV 31,392.6 (5,314.5) 1,605.0
STARBUCKS CORP SBUXEUR EU 31,392.6 (5,314.5) 1,605.0
STARBUCKS CORP SBUX TE 31,392.6 (5,314.5) 1,605.0
STARBUCKS CORP SBUX IM 31,392.6 (5,314.5) 1,605.0
STARBUCKS CORP SBUXUSD SW 31,392.6 (5,314.5) 1,605.0
STARBUCKS CORP SRB GZ 31,392.6 (5,314.5) 1,605.0
STARBUCKS CORP SBUX-RM RM 31,392.6 (5,314.5) 1,605.0
STARBUCKS CORP SBUXCL CI 31,392.6 (5,314.5) 1,605.0
STARBUCKS-BDR SBUB34 BZ 31,392.6 (5,314.5) 1,605.0
STARBUCKS-CEDEAR SBUXD AR 31,392.6 (5,314.5) 1,605.0
STARBUCKS-CEDEAR SBUX AR 31,392.6 (5,314.5) 1,605.0
TALON 1 ACQUISIT TOACU US 0.416 (0.007) (0.394)
TASTEMAKER ACQ-A TMKR US 279.7 252.5 0.8
TASTEMAKER ACQUI TMKRU US 279.7 252.5 0.8
THUNDER BRIDGE C TBCPU US 415.0 389.1 (10.4)
THUNDER BRIDGE C THCPU US 0.426 (0.006) (0.380)
THUNDER BRIDGE-A TBCP US 415.0 389.1 (10.4)
THUNDER BRIDGE-A THCP US 0.426 (0.006) (0.380)
TORRID HOLDINGS CURV US 662.5 (157.6) 30.6
TPB ACQUISITI-A TPBA US 0.761 (0.040) (0.726)
TPB ACQUISITIN I TPBAU US 0.761 (0.040) (0.726)
TRANSAT A.T. TRZ CN 1,928.5 (191.2) 150.9
TRANSAT A.T. TRZBF US 1,928.5 (191.2) 150.9
TRANSAT A.T. 1TJ GR 1,928.5 (191.2) 150.9
TRANSDIGM - BDR T1DG34 BZ 19,089.0 (3,132.0) 5,087.0
TRANSDIGM GROUP TDG US 19,089.0 (3,132.0) 5,087.0
TRANSDIGM GROUP T7D GR 19,089.0 (3,132.0) 5,087.0
TRANSDIGM GROUP T7D QT 19,089.0 (3,132.0) 5,087.0
TRANSDIGM GROUP TDGEUR EU 19,089.0 (3,132.0) 5,087.0
TRANSDIGM GROUP TDGEUR EZ 19,089.0 (3,132.0) 5,087.0
TRANSDIGM GROUP TDG* MM 19,089.0 (3,132.0) 5,087.0
TRANSDIGM GROUP T7D TH 19,089.0 (3,132.0) 5,087.0
TRANSPHORM INC TGAN US 14.0 (31.0) (6.1)
TRAVEL + LEISURE WD5A TH 6,601.0 (849.0) 658.0
TRAVEL + LEISURE WD5A GR 6,601.0 (849.0) 658.0
TRAVEL + LEISURE WD5A QT 6,601.0 (849.0) 658.0
TRAVEL + LEISURE WYNEUR EU 6,601.0 (849.0) 658.0
TRAVEL + LEISURE TNL US 6,601.0 (849.0) 658.0
TRAVEL + LEISURE 0M1K LI 6,601.0 (849.0) 658.0
TRAVEL + LEISURE WD5A GZ 6,601.0 (849.0) 658.0
TRISTAR ACQUISIT TRIS/U US 0.560 (0.096) (0.613)
TRIUMPH GROUP TG7 GR 1,800.7 (828.9) 419.4
TRIUMPH GROUP TGI US 1,800.7 (828.9) 419.4
TRIUMPH GROUP TG7 TH 1,800.7 (828.9) 419.4
TRIUMPH GROUP TGIEUR EU 1,800.7 (828.9) 419.4
TRIUMPH GROUP TG7 GZ 1,800.7 (828.9) 419.4
TUPPERWARE BRAND TUP GR 1,207.7 (223.3) (461.6)
TUPPERWARE BRAND TUP US 1,207.7 (223.3) (461.6)
TUPPERWARE BRAND TUP QT 1,207.7 (223.3) (461.6)
TUPPERWARE BRAND TUP1EUR EZ 1,207.7 (223.3) (461.6)
TUPPERWARE BRAND TUP SW 1,207.7 (223.3) (461.6)
TUPPERWARE BRAND TUP TH 1,207.7 (223.3) (461.6)
TUPPERWARE BRAND TUP1EUR EU 1,207.7 (223.3) (461.6)
TUPPERWARE BRAND TUP GZ 1,207.7 (223.3) (461.6)
UNISYS CORP UISCHF EU 2,321.4 (250.1) 463.6
UNISYS CORP USY1 TH 2,321.4 (250.1) 463.6
UNISYS CORP USY1 GR 2,321.4 (250.1) 463.6
UNISYS CORP UIS1 SW 2,321.4 (250.1) 463.6
UNISYS CORP UIS US 2,321.4 (250.1) 463.6
UNISYS CORP UISEUR EU 2,321.4 (250.1) 463.6
UNISYS CORP UISEUR EZ 2,321.4 (250.1) 463.6
UNISYS CORP UISCHF EZ 2,321.4 (250.1) 463.6
UNISYS CORP USY1 GZ 2,321.4 (250.1) 463.6
UNISYS CORP USY1 QT 2,321.4 (250.1) 463.6
UNITI GROUP INC UNIT US 4,784.3 (2,118.2) -
UNITI GROUP INC 8XC GR 4,784.3 (2,118.2) -
UNITI GROUP INC 8XC TH 4,784.3 (2,118.2) -
UNITI GROUP INC 8XC GZ 4,784.3 (2,118.2) -
VECTOR GROUP LTD VGR US 1,536.0 (573.1) 470.3
VECTOR GROUP LTD VGR GR 1,536.0 (573.1) 470.3
VECTOR GROUP LTD VGR QT 1,536.0 (573.1) 470.3
VECTOR GROUP LTD VGREUR EZ 1,536.0 (573.1) 470.3
VECTOR GROUP LTD VGR TH 1,536.0 (573.1) 470.3
VECTOR GROUP LTD VGREUR EU 1,536.0 (573.1) 470.3
VECTOR GROUP LTD VGR GZ 1,536.0 (573.1) 470.3
VENTYX BIOSCIENC VTYX US - - -
VERA THERAPEUTIC VERA US 91.2 85.5 85.7
VERISIGN INC VRS TH 1,814.7 (1,417.6) 216.2
VERISIGN INC VRSN US 1,814.7 (1,417.6) 216.2
VERISIGN INC VRS GR 1,814.7 (1,417.6) 216.2
VERISIGN INC VRS QT 1,814.7 (1,417.6) 216.2
VERISIGN INC VRSNEUR EZ 1,814.7 (1,417.6) 216.2
VERISIGN INC VRS SW 1,814.7 (1,417.6) 216.2
VERISIGN INC VRSN* MM 1,814.7 (1,417.6) 216.2
VERISIGN INC VRSNEUR EU 1,814.7 (1,417.6) 216.2
VERISIGN INC VRS GZ 1,814.7 (1,417.6) 216.2
VERISIGN INC-BDR VRSN34 BZ 1,814.7 (1,417.6) 216.2
VERISIGN-CEDEAR VRSN AR 1,814.7 (1,417.6) 216.2
VINCO VENTURES I BBIG US 121.3 (27.5) 71.8
VIVINT SMART HOM VVNT US 2,973.8 (1,630.6) (327.2)
W&T OFFSHORE INC UWV GR 1,243.3 (296.9) 2.8
W&T OFFSHORE INC WTI US 1,243.3 (296.9) 2.8
W&T OFFSHORE INC UWV TH 1,243.3 (296.9) 2.8
W&T OFFSHORE INC WTI1EUR EU 1,243.3 (296.9) 2.8
W&T OFFSHORE INC UWV GZ 1,243.3 (296.9) 2.8
WALDENCAST ACQ-A WALD US 346.3 301.9 1.0
WALDENCAST ACQUI WALDU US 346.3 301.9 1.0
WARRIOR TECHN-A WARR US 0.372 (0.036) (0.406)
WARRIOR TECHNOLO WARR/U US 0.372 (0.036) (0.406)
WAYFAIR INC- A W US 4,466.2 (1,530.1) 924.7
WAYFAIR INC- A 1WF GR 4,466.2 (1,530.1) 924.7
WAYFAIR INC- A 1WF TH 4,466.2 (1,530.1) 924.7
WAYFAIR INC- A WEUR EU 4,466.2 (1,530.1) 924.7
WAYFAIR INC- A W* MM 4,466.2 (1,530.1) 924.7
WAYFAIR INC- A 1WF GZ 4,466.2 (1,530.1) 924.7
WAYFAIR INC- A WEUR EZ 4,466.2 (1,530.1) 924.7
WAYFAIR INC- A 1WF QT 4,466.2 (1,530.1) 924.7
WINGSTOP INC WING US 260.4 (314.1) 29.5
WINGSTOP INC EWG GR 260.4 (314.1) 29.5
WINGSTOP INC WING1EUR EU 260.4 (314.1) 29.5
WINGSTOP INC EWG GZ 260.4 (314.1) 29.5
WINMARK CORP WINA US 55.0 (12.8) 33.6
WINMARK CORP GBZ GR 55.0 (12.8) 33.6
WW INTERNATIONAL WW US 1,467.9 (491.4) 53.5
WW INTERNATIONAL WW6 GR 1,467.9 (491.4) 53.5
WW INTERNATIONAL WTWEUR EU 1,467.9 (491.4) 53.5
WW INTERNATIONAL WW6 QT 1,467.9 (491.4) 53.5
WW INTERNATIONAL WW6 TH 1,467.9 (491.4) 53.5
WW INTERNATIONAL WTWEUR EZ 1,467.9 (491.4) 53.5
WW INTERNATIONAL WTW AV 1,467.9 (491.4) 53.5
WW INTERNATIONAL WW6 GZ 1,467.9 (491.4) 53.5
WYNN RESORTS LTD WYR GR 12,607.7 (592.6) 1,569.3
WYNN RESORTS LTD WYR TH 12,607.7 (592.6) 1,569.3
WYNN RESORTS LTD WYNN* MM 12,607.7 (592.6) 1,569.3
WYNN RESORTS LTD WYNN US 12,607.7 (592.6) 1,569.3
WYNN RESORTS LTD WYR QT 12,607.7 (592.6) 1,569.3
WYNN RESORTS LTD WYNNEUR EZ 12,607.7 (592.6) 1,569.3
WYNN RESORTS LTD WYR GZ 12,607.7 (592.6) 1,569.3
WYNN RESORTS LTD WYNNEUR EU 12,607.7 (592.6) 1,569.3
WYNN RESORTS LTD WYNN-RM RM 12,607.7 (592.6) 1,569.3
XILIO THERAPEUTI XLO US 158.3 123.8 126.3
YELLOW CORP YEL GR 2,462.8 (306.2) 309.7
YELLOW CORP YELL US 2,462.8 (306.2) 309.7
YELLOW CORP YEL QT 2,462.8 (306.2) 309.7
YELLOW CORP YRCWEUR EU 2,462.8 (306.2) 309.7
YELLOW CORP YEL1 TH 2,462.8 (306.2) 309.7
YELLOW CORP YRCWEUR EZ 2,462.8 (306.2) 309.7
YELLOW CORP YEL1 SW 2,462.8 (306.2) 309.7
YELLOW CORP YEL GZ 2,462.8 (306.2) 309.7
YUM! BRANDS -BDR YUMR34 BZ 6,419.0 (7,855.0) 707.0
YUM! BRANDS INC TGR TH 6,419.0 (7,855.0) 707.0
YUM! BRANDS INC TGR GR 6,419.0 (7,855.0) 707.0
YUM! BRANDS INC YUMEUR EU 6,419.0 (7,855.0) 707.0
YUM! BRANDS INC TGR QT 6,419.0 (7,855.0) 707.0
YUM! BRANDS INC YUM SW 6,419.0 (7,855.0) 707.0
YUM! BRANDS INC YUM US 6,419.0 (7,855.0) 707.0
YUM! BRANDS INC YUMEUR EZ 6,419.0 (7,855.0) 707.0
YUM! BRANDS INC YUM* MM 6,419.0 (7,855.0) 707.0
YUM! BRANDS INC YUM AV 6,419.0 (7,855.0) 707.0
YUM! BRANDS INC TGR TE 6,419.0 (7,855.0) 707.0
YUM! BRANDS INC YUMUSD SW 6,419.0 (7,855.0) 707.0
YUM! BRANDS INC TGR GZ 6,419.0 (7,855.0) 707.0
YUM! BRANDS INC YUM-RM RM 6,419.0 (7,855.0) 707.0
ZETA GLOBAL HO-A ZETA US 354.5 53.1 97.4
*********
Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par. Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable. Those sources may not,
however, be complete or accurate. The Monday Bond Pricing table
is compiled on the Friday prior to publication. Prices reported
are not intended to reflect actual trades. Prices for actual
trades are probably different. Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind. It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.
Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets. At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled. Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets. A company may establish reserves on its balance sheet for
liabilities that may never materialize. The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.
On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts. The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.
Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals. All titles are
available at your local bookstore or through Amazon.com. Go to
http://www.bankrupt.com/books/to order any title today.
Monthly Operating Reports are summarized in every Saturday edition
of the TCR.
The Sunday TCR delivers securitization rating news from the week
then-ending.
TCR subscribers have free access to our on-line news archive.
Point your Web browser to http://TCRresources.bankrupt.com/and use
the e-mail address to which your TCR is delivered to login.
*********
S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors.
Copyright 2021. All rights reserved. ISSN: 1520-9474.
This material is copyrighted and any commercial use, resale or
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*** End of Transmission ***