/raid1/www/Hosts/bankrupt/TCR_Public/220103.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
Monday, January 3, 2022, Vol. 26, No. 2
Headlines
AGDAIAN FAMILY: Voluntary Chapter 11 Case Summary
ALTA CUCINA: Case Summary & 2 Unsecured Creditors
AMERICAN CRYOSTEM: Delays Filing of Form 10-K for FY Ended Sept. 30
APOLLO ENDOSURGERY: Secures $100M Secured Term Loan From Innovatus
BAYRIDGE LOK: Case Summary & 5 Unsecured Creditors
BEACON PURCHASING: Case Summary & 11 Unsecured Creditors
BLACK & GOLD: Seeks to Hire Gelman & Reisman as Special Counsel
BOY SCOUTS: Bielli, Newsome Represent Abuse Claimants
BOY SCOUTS: Bielli, Slavin Firm Represent Abuse Survivors
BOY SCOUTS: O'Brien & Ford Represents Unsecured Claimants
BOY SCOUTS: Tammy Carter Represents Direct Abuse Claimants
BOY SCOUTS: Thomas Legal Represents Unsecured Claimant
BRIGHT MOUNTAIN: Incurs $72.7 Million Net Loss in 2020
CALIFORNIA INDEPENDENT: Taps Alcorn Law Corp. as Special Counsel
CICO ELECTRICAL: Case Summary & 20 Largest Unsecured Creditors
COVER FX: SSG Advises Business in Asset Sale to AS Beauty
CRECHALE PROPERTIES: Taps Jason Gunter of Realty Star as Realtor
DJ'S TOWING: Case Summary & 3 Unsecured Creditors
FIRST STEP: Voluntary Chapter 11 Case Summary
FUELCELL ENERGY: Incurs $101 Million Net Loss in FY Ended Oct. 31
GIGA-TRONICS INC: Signs Share Exchange Deal With BitNile, Gresham
H-CYTE INC: Michael Yurkowsky Retains CEO Role
HELLO LIVING: Case Summary & 20 Largest Unsecured Creditors
JURASSIC JUMP: Case Summary & 16 Unsecured Creditors
KAYA HOLDINGS: Appoints Mitchell Chupak as Director
KAYA HOLDINGS: Signs Exchange Agreement With CEO, BMN Consultants
LOADCRAFT INDUSTRIES: Case Summary & 20 Top Unsecured Creditors
LUX AMBER: Incurs $414K Net Loss in Second Quarter
MAG AUTO GROUP: Case Summary & 9 Unsecured Creditors
MULLEN AUTOMOTIVE: Incurs $44.2-Mil. Net Loss in FY Ended Sept. 30
MUSIKAR HOLDINGS: Seeks to Hire Van Horn Law Group as Counsel
NUZEE INC: Incurs $18.6 Million Net Loss in FY Ended Sept. 30
NUZEE INC: Inks Deal to Sell $20 Million Worth of Common Shares
NUZEE INC: Inks LOI to Negotiate Purchase Deal With Coffee Company
ORIGINAL TILE: Case Summary & 20 Largest Unsecured Creditors
PH 1 LLC: Case Summary & Unsecured Creditor
PHILIPPINE AIRLINES: Completes Chapter 11 Restructuring
POLYMER GRINDING: Seeks to Hire Julian Law Firm as Special Counsel
QHC CRESTVIEW: Case Summary & 20 Largest Unsecured Creditors
QHC FACILITIES: Case Summary & 20 Largest Unsecured Creditors
QHC FACILITIES: Seeks Approval to Hire Gibbins as Financial Advisor
QHC HUMBOLDT NORTH: Case Summary & 20 Largest Unsecured Creditors
QHC HUMBOLDT: Case Summary & 20 Largest Unsecured Creditors
QHC MANAGEMENT: Case Summary & 11 Unsecured Creditors
QHC MITCHELLVILLE: Case Summary & 20 Largest Unsecured Creditors
QHC VILLA COTTAGES: Case Summary & 20 Largest Unsecured Creditors
QHC WINTERSET NORTH: Case Summary & 20 Largest Unsecured Creditors
S K TRANSPORT: Taps Joseph Caldwell as Bankruptcy Attorney
SAFE SITE: Case Summary & 14 Unsecured Creditors
SPECTRUM GLOBAL: Amends Conversion Price of Series D Pref. Stock
TELINTEL LTD: Case Summary & 20 Largest Unsecured Creditors
V.N.D. LIMITED: Case Summary & 9 Unsecured Creditors
[^] BOND PRICING: For the Week from Dec. 27 to 31, 2022
*********
AGDAIAN FAMILY: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Agdaian Family LLC
7393 Perigold Ct.
Tugunga, CA 91042
Chapter 11 Petition Date: December 29, 2021
Court: United States Bankruptcy Court
Central District of California
Case No.: 21-19502
Judge: Hon. Vincent P. Zurzolo
Debtor's Counsel: Gene Koon, Esq.
LAW OFFICES OF GENE KOON
332 w. Foothill Blvd
Monrovia, CA 91016
Tel: (626) 256-1651
E-mail: gkoon@koonlaw.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $0 to $50,000
The petition was signed by Abert Agdaian, president.
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/K7UZRDA/Albert_Agdaian__cacbke-21-19502__0001.0.pdf?mcid=tGE4TAMA
ALTA CUCINA: Case Summary & 2 Unsecured Creditors
-------------------------------------------------
Debtor: Alta Cucina, LLC
260 Sixth Avenue
New York, NY 10014
Business Description: Alta cucina is part of the restaurants
industry.
Chapter 11 Petition Date: December 21, 2021
Court: United States Bankruptcy Court
Southern District of New York
Case No.: 21-12103
Debtor's Counsel: Adrienne Woods, Esq.
THE LAW OFFICES OF ADRIENNE WOODS, PC
105 West 86th Street, #314
New York, NY 10024
Tel: 917-447-4321
Email: adrienne@woodslawpc.com
Estimated Assets: $500,000 to $1 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Giselle Deiaco, director.
A copy of the Debtor's list of two unsecured creditors is available
for free at PacerMonitor.com at:
https://www.pacermonitor.com/view/5STSULY/Alta_cucina_LLC__nysbke-21-12103__0002.0.pdf?mcid=tGE4TAMA
A full-text copy of the petition is available for free at
PacerMonitor.com at:
https://www.pacermonitor.com/view/5VUNQ5A/Alta_cucina_LLC__nysbke-21-12103__0001.0.pdf?mcid=tGE4TAMA
AMERICAN CRYOSTEM: Delays Filing of Form 10-K for FY Ended Sept. 30
-------------------------------------------------------------------
American CryoStem Corporation filed a Form 12b-25 with the
Securities and Exchange Commission notifying the delay in the
filing of its Annual Report on Form 10-K for the year ended Sept.
30, 2021.
The Company said the compilation, dissemination and review of the
information required to be presented in the Form 10-K for the
period ending Sept. 30, 2021 could not be completed and filed by
Dec. 29, 2021, without undue hardship and expense to the Company.
The Company anticipates that it will file its Form 10-K within the
"grace" period provided by Securities Exchange Act Rule 12b-25.
About American CryoStem
Eatontown, New Jersey-based American CryoStem Corporation (OTC:
CRYO) -- http://www.americancryostem.com-- is a developer,
marketer and global licensor of patented adipose tissue-based
cellular technologies and related proprietary services with a
focus on processing, commercial bio-banking and application
development for adipose (fat) tissue and autologous
adipose-derived
regenerative cells (ADRCs).
American CryoStem reported a net loss of $1.18 million for the year
ended Sept. 30, 2020, compared to a net loss of $1.08 million for
the year ended Sept. 30, 2019. As of June 30, 2021, the Company
had $1.78 million in total assets, $2.39 million in total
liabilities, and a total shareholders' deficit of $613,644.
Fruci & Associates II, PLLC, in Spokane, Washington, the Company's
auditor since 2017, issued a "going concern" qualification in its
report dated Jan. 4, 2021, citing that the Company has incurred
significant net losses since inception. This factor raises
substantial doubt about the Company's ability to continue as a
going concern.
APOLLO ENDOSURGERY: Secures $100M Secured Term Loan From Innovatus
------------------------------------------------------------------
Apollo Endosurgery, Inc. has entered into a debt financing
agreement with an affiliate of Innovatus Capital Partners, LLC to
provide Apollo with up to $100 million in term loan financing.
"We are pleased to partner with a long-term strategic investor such
as Innovatus in this transaction," said Chas McKhann, president and
CEO. "This new loan facility provides us flexibility to invest in
our business and fund our growth initiatives through
minimally-dilutive financing. Importantly, with this additional
capital source, our management team can focus on unlocking the
value in our business through continued execution."
The new term loan reduces Apollo's cost of capital, extends
amortization by an additional 33 months over the prior term loan
and decreases debt service cash requirements by nearly $30 million
over the next three years.
"Innovatus is excited to work with Apollo and its management team,"
said Claes Ekstrom, managing director. "We believe this
transaction enables Apollo to accelerate the adoption of its
portfolio of highly differentiated products across a wide range of
patient needs."
On Dec. 21, 2021, Apollo entered into a loan and security agreement
pursuant to which Innovatus has agreed to make certain term loans
in the aggregate principal amount of up to $100 million, with the
first $35 million tranche (Term A Tranche) to be funded at closing
and used to retire Apollo's existing term debt facility with SLR
Capital Partners.
Apollo will be eligible to draw on additional tranches commencing
June 30, 2022 as follows:
* Term B Tranche of $15 million between July 1, 2023 and Dec.
31, 2023, upon achievement of certain revenue milestones;
* Term C Tranche of $25 million between July 1, 2024 and Dec.
31, 2024, upon achievement of certain revenue milestones; and
* Term D Tranche of up to $25 million second between June 30,
2022 and June 30, 2024, for the purposes of financing all or part
of any approved acquisition.
Borrowing under the Loan Agreement will bear interest at the
greater of the Wall Street Journal Prime Rate or 3.25%, plus 4.0%
(currently, 7.25%). Apollo is entitled to make interest-only
payments for 60 months, followed by monthly payments of principal
and interest through maturity on the sixth anniversary of the
initial funding date.
The Loan Agreement is secured by substantially all of Apollo's
assets.
Prior to Dec. 21, 2025, Innovatus will have the right, but not the
obligation, to make a one-time election to convert up to 10% of the
outstanding aggregate principal amount of the term Loans into
shares of common stock of Apollo. Those shares will be issued at a
price per share equal to $11.50.
Credo 180 acted as sole financial advisor to Apollo on this
transaction.
About Apollo Endosurgery
Apollo Endosurgery, Inc. -- http://www.apolloendo.com-- is a
medical technology company focused on less invasive therapies to
treat various gastrointestinal conditions, ranging from
gastrointestinal complications to the treatment of obesity.
Apollo's device-based therapies are an alternative to invasive
surgical procedures, thus lowering complication rates and reducing
total healthcare costs. Apollo's products are offered in over 75
countries and include the OverStitch Endoscopic Suturing System,
the OverStitch Sx Endoscopic Suturing System, and the ORBERA
Intragastric Balloon.
Apollo Endosurgery reported a net loss of $22.61 million for the
year ended Dec. 31, 2020, compared to a net loss of $27.43 million
for the year ended Dec. 31, 2019. As of Sept. 30, 2021, the
Company had $71.08 million in total assets, $71.17 million in total
liabilities, and a total stockholders' deficit of $92,000.
BAYRIDGE LOK: Case Summary & 5 Unsecured Creditors
--------------------------------------------------
Debtor: Bayridge Lok Holdings LLC
670 Myrtle Ave #351
Brooklyn, NY 11205
Business Description: Bayridge Lok Holdings is engaged in
activities related to real estate. The
Debtor is a limited liability company
currently under contract to purchase the
real property located at 699 92nd Street,
Brooklyn, New York 11228 and 9012 7th
Avenue, Brooklyn, New York 11228.
Chapter 11 Petition Date: December 31, 2021
Court: United States Bankruptcy Court
Eastern District of New York
Case No.: 21-43128
Judge: Hon. Jil Mazer-Marino
Debtor's Counsel: Fred B. Ringel, Esq.
ROBINSON BROG LEINWAND GREENE GENOVESE & GLUCK
P.C.
875 Third Avenue
New York, NY 10022
Tel: (212) 603-6300
Total Assets: $153,000,222
Total Liabilities: $153,054,765
The petition was signed by Pearl Schwartz, trustee of Prospect
Bayridge LLC, managing member.
A full-text copy of the petition is available for free at
PacerMonitor.com at:
List of Debtor's Five Unsecured Creditors:
Entity Nature of Claim Claim Amount
------ --------------- ------------
1. David Weingarten CPA $5,200
1742 46th Street
Brooklyn, NY 11204
2. JBBNY LLC $42,000
4403 15th Avenue
Suite 137
Brooklyn, NY 11219
3. Oritlow Services Inc. $5,000
5308 13th Ave., Ste. 593
Brooklyn, NY 11219
4. Sunset LG Realty LLC Seller Under $150,000,000
c/o The Leser Group Ltd. Purchase
Attn: Abraham Leser Agreement
1481 47th Street
Brooklyn, NY 11219
5. The Law Office of Abraham $2,565
Neuhaus, LLC
124 Benjamin Street
Toms River, NJ 08755
BEACON PURCHASING: Case Summary & 11 Unsecured Creditors
--------------------------------------------------------
Debtor: Beacon Purchasing LLC, A Nevada Limited Liability
f/d/b/a Banner Purchasing LLC
29222 Rancho Viejo Road, Suite 101
San Juan Capistrano, CA 92675
Business Description: Beacon Purchasing offers automated
purchasing solution that allows clients to
cut costs.
Chapter 11 Petition Date: December 30, 2021
Court: United States Bankruptcy Court
District of Nevada
Case No.: 21-15886
Debtor's Counsel: Brian D. Shapiro, Esq.
LAW OFFICE OF BRIAN SHAPIRO, a Nevada LLC
510 S. 8th Street
Las Vegas, NV 89101-7003
Tel: 702-386-8600
Fax: 702-383-0994
E-mail: brian@brianshapirolaw.com
Estimated Assets: $0 to $50,000
Estimated Liabilities: $1 million to $10 million
The petition was signed by Steve Borgquist as managing member.
A full-text copy of the petition containing, among other items, a
list of the Debtor's 11 unsecured creditors is available for free
at PacerMonitor.com at:
https://www.pacermonitor.com/view/66XKQTY/BEACON_PURCHASING_LLC_A_NEVADA__nvbke-21-15886__0001.0.pdf?mcid=tGE4TAMA
BLACK & GOLD: Seeks to Hire Gelman & Reisman as Special Counsel
---------------------------------------------------------------
Black & Gold Beer Warehouse, LLC seeks approval from the U.S.
Bankruptcy Court for the Western District of Pennsylvania to hire
Gelman & Reisman, P.C. to serve as special counsel relating to
liquor licensing, renewal, and general compliance with the Liquor
Code.
Marc Reisman, Esq., the firm's attorney who will be providing the
services, will be paid at an hourly rate of $350.
The Debtor paid the firm $1,500 as a retainer fee.
Mr. Reisman disclosed in a court filing that he is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached at:
Marc S. Reisman, Esq.
Gelman & Reisman, P.C.
429 Fourth Ave, Suite 1701
Law And Finance Building
Pittsburgh, PA 15219
Tel: (412) 288-9200
About Black & Gold Beer Warehouse
Black & Gold Beer Warehouse, LLC filed its voluntary petition for
Chapter 11 protection (Bankr. W.D. Pa. Case No. 21-22261) on Oct.
15, 2021, listing up to $50,000 in assets and up to $1 million in
liabilities. Judge Thomas P. Agresti oversees the case.
Donald R. Calaiaro, Esq., at Calaiaro Valencik and Gelman &
Reisman, P.C. serve as the Debtor's bankruptcy counsel and special
counsel, respectively.
BOY SCOUTS: Bielli, Newsome Represent Abuse Claimants
-----------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
the law firms of Bielli & Klauder, LLC and Newsome Melton submitted
a verified statement to disclose that they are representing the
abuse claimants in the Chapter 11 cases of Boy Scouts of America
and Delaware BSA, LLC.
Each of the clients set forth on Exhibit 1 hereto has retained
Newsome Melton and their co-counsel, Pfau Cochran Vertetis Amala
PLLC, to represent him or her as litigation counsel in connection
with, among other things, abuse claims against the Debtors and
other third-party defendants. In addition to PCVA, a number of NM
Clients have also retained Panish Shea & Boyle LLP or Marsh Law
Firm PLLC to represent him or her as litigation counsel in
connection with, among other things, abuse claims against the
Debtors and other third-party defendants. Exhibit 1 sets forth the
names of the NM Clients as of December 27, 2021, together with the
nature and amount of the disclosable economic interests held by
each of them in relation to the Debtor and the other information
required to be disclosed by Bankruptcy Rule 20191. True and
accurate copies of exemplar engagement agreements between the NM
Clients and NM, PCVA, Marsh, and PSB are attached hereto as Exhibit
2.
The names and contact details of the Clients were redacted from
publicly available filings.
* Claim No: 88619
Claimant's address: c/o Newsome Melton
201 S Orange Ave #1500
Orlando, Florida 32801
Economic Interest: Unliquidated Abuse Claim
* Claim No: 88618
Claimant's address: c/o Newsome Melton
201 S Orange Ave #1500
Orlando, Florida 32801
Economic Interest: Unliquidated Abuse Claim
* Claim No: 88652
Claimant's address: c/o Newsome Melton
201 S Orange Ave #1500
Orlando, Florida 32801
Economic Interest: Unliquidated Abuse Claim
* Claim No: 88944
Claimant's address: c/o Newsome Melton
201 S Orange Ave #1500
Orlando, Florida 32801
Economic Interest: Unliquidated Abuse Claim
* Claim No: 88965
Claimant's address: c/o Newsome Melton
201 S Orange Ave #1500
Orlando, Florida 32801
Economic Interest: Unliquidated Abuse Claim
* Claim No: 88972
Claimant's address: c/o Newsome Melton
201 S Orange Ave #1500
Orlando, Florida 32801
Economic Interest: Unliquidated Abuse Claim
* Claim No: 88620
Claimant's address: c/o Newsome Melton
201 S Orange Ave #1500
Orlando, Florida 32801
Economic Interest: Unliquidated Abuse Claim
* Claim No: 88939
Claimant's address: c/o Newsome Melton
201 S Orange Ave #1500
Orlando, Florida 32801
Economic Interest: Unliquidated Abuse Claim
* Claim No: 88885
Claimant's address: c/o Newsome Melton
201 S Orange Ave #1500
Orlando, Florida 32801
Economic Interest: Unliquidated Abuse Claim
* Claim No: 88739
Claimant's address: c/o Newsome Melton
201 S Orange Ave #1500
Orlando, Florida 32801
Economic Interest: Unliquidated Abuse Claim
* Claim No: 70520
Claimant's address: c/o Newsome Melton
201 S Orange Ave #1500
Orlando, Florida 32801
Economic Interest: Unliquidated Abuse Claim
* Claim No: 88655
Claimant's address: c/o Newsome Melton
201 S Orange Ave #1500
Orlando, Florida 32801
Economic Interest: Unliquidated Abuse Claim
* Claim No: 88918
Claimant's address: c/o Newsome Melton
201 S Orange Ave #1500
Orlando, Florida 32801
Economic Interest: Unliquidated Abuse Claim
* Claim No: 88941
Claimant's address: c/o Newsome Melton
201 S Orange Ave #1500
Orlando, Florida 32801
Economic Interest: Unliquidated Abuse Claim
NM does not represent the interests of, and is not fiduciary for,
any sexual abuse claimant, other creditor, party in interest, or
other entity that has not signed an engagement agreement with NM.
The undersigned reserve the right to amend or supplement this
Verified Statement in accordance with the requirements of
Bankruptcy Rule 2019 at any time in the future.
Counsel to Newsome Melton can be reached at:
BIELLI & KLAUDER, LLC
David M. Klauder, Esq.
1204 N. King Street
Wilmington, DE 19801
Telephone: (302) 803-4600
E-mail: dklauder@bk-legal.com
Counsel to the NM Clients can be reached at:
NEWSOME MELTON
Will Ourand, Esq.
201 S. Orange Avenue, Suite 1500
Orlando, Florida 32801
Telephone: (407) 648-5977
E-mail: ourand@newsomelaw.com
A copy of the Rule 2019 filing is available at
https://bit.ly/3HlBnXF at no extra charge.
About Boy Scouts of America
The Boy Scouts of America -- https://www.scouting.org/ -- is a
federally chartered non-profit corporation under title 36 of the
United States Code. Founded in 1910 and chartered by an act of
Congress in 1916, the BSA's mission is to train youth in
responsible citizenship, character development, and self-reliance
through participation in a wide range of outdoor activities,
educational programs, and, at older age levels, career-oriented
programs in partnership with community organizations. Its national
headquarters is located in Irving, Texas.
The Boy Scouts of America and affiliate Delaware BSA, LLC, sought
Chapter 11 protection (Bankr. D. Del. Lead Case No. 20-10343) on
Feb. 18, 2020, to deal with sexual abuse claims.
Boy Scouts of America was estimated to have $1 billion to $10
billion in assets and at least $500 million in liabilities as of
the bankruptcy filing.
The Debtors have tapped Sidley Austin LLP as their bankruptcy
counsel, Morris, Nichols, Arsht & Tunnell LLP as Delaware counsel,
and Alvarez & Marsal North America, LLC as financial advisor. Omni
Agent Solutions is the claims agent.
The U.S. Trustee for Region 3 appointed a tort claimants' committee
and an unsecured creditors' committee on March 5, 2020. The tort
claimants' committee is represented by Pachulski Stang Ziehl &
Jones, LLP, while the unsecured creditors' committee is represented
by Kramer Levin Naftalis & Frankel, LLP.
BOY SCOUTS: Bielli, Slavin Firm Represent Abuse Survivors
---------------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
the Law Offices of Joshua E. Slavin and Bielli & Klauder, LLC
submitted a verified statement to disclose that they are
representing the Sexual Abuse Survivors in the Chapter 11 cases of
Boy Scouts of America and Delaware BSA, LLC.
The names and contact details of the Clients were redacted from
publicly available filings.
* Claim No: 4485
Claimant's address: The Law Offices of Joshua E. Slavin
PO Box 762
Mount Pleasant, SC 29465
Economic Interest: Unliquidated Abuse Claim
* Claim No: 4486
Claimant's address: The Law Offices of Joshua E. Slavin
PO Box 762
Mount Pleasant, SC 29465
Economic Interest: Unliquidated Abuse Claim
* Claim No: 4603
Claimant's address: The Law Offices of Joshua E. Slavin
PO Box 762
Mount Pleasant, SC 29465
Economic Interest: Unliquidated Abuse Claim
* Claim No: 52052
Claimant's address: The Law Offices of Joshua E. Slavin
PO Box 762
Mount Pleasant, SC 29465
Economic Interest: Unliquidated Abuse Claim
* Claim No: 54646
Claimant's address: The Law Offices of Joshua E. Slavin
PO Box 762
Mount Pleasant, SC 29465
Economic Interest: Unliquidated Abuse Claim
* Claim No: 6006
Claimant's address: The Law Offices of Joshua E. Slavin
PO Box 762
Mount Pleasant, SC 29465
Economic Interest: Unliquidated Abuse Claim
* Claim No: 6061
Claimant's address: The Law Offices of Joshua E. Slavin
PO Box 762
Mount Pleasant, SC 29465
Economic Interest: Unliquidated Abuse Claim
* Claim No: 43495
Claimant's address: The Law Offices of Joshua E. Slavin
PO Box 762
Mount Pleasant, SC 29465
Economic Interest: Unliquidated Abuse Claim
* Claim No: 8428
Claimant's address: The Law Offices of Joshua E. Slavin
PO Box 762
Mount Pleasant, SC 29465
Economic Interest: Unliquidated Abuse Claim
* Claim No: 59378
Claimant's address: The Law Offices of Joshua E. Slavin
PO Box 762
Mount Pleasant, SC 29465
Economic Interest: Unliquidated Abuse Claim
* Claim No: 96535
Claimant's address: The Law Offices of Joshua E. Slavin
PO Box 762
Mount Pleasant, SC 29465
Economic Interest: Unliquidated Abuse Claim
* Claim No: 15249
Claimant's address: The Law Offices of Joshua E. Slavin
PO Box 762
Mount Pleasant, SC 29465
Economic Interest: Unliquidated Abuse Claim
Slavin Firm retained Bielli & Klauder, LLC as local counsel for the
Slavin Firm Claimants in relation to this proceeding. Slavin Firm
has authority under its retainer agreement with each Slavin Firm
Claimant to associate or retain other counsel as necessary. Slavin
Firm will pay all fees related to Bielli & Klauders, LLC's work. No
Slavin Firm Claimant shall have any responsibility to pay for
Bielli & Klauder, LLC's fees or costs.
Slavin Firm does not represent the interests of, and is not a
fiduciary for, any abuse claimant, creditor, party in interest, or
any other entity or person that has not signed an agreement with
Slavin Firm.
The undersigned reserve the right to amend or supplement this
Verified Statement in accordance with the requirements of
Bankruptcy Rule 2019 at any time in the future.
Counsel for the Claimants can be reached at:
BIELLI & KLAUDER, LLC
David M. Klauder, Esq.
1204 N. King Street
Wilmington, DE 19801
Tel: (302) 803-4600
E-mail: dklauder@bk-legal.com
- and -
The Law Offices of Joshua E. Slavin, LLC
PO Box 762
Mount Pleasant, SC 29465
Tel: 843-619-7338
Fax: 888-246-8914
E-mail: josh@attorneycarolina.com
A copy of the Rule 2019 filing is available at
https://bit.ly/3FLQkSr at no extra charge.
About Boy Scouts of America
The Boy Scouts of America -- https://www.scouting.org/ -- is a
federally chartered non-profit corporation under title 36 of the
United States Code. Founded in 1910 and chartered by an act of
Congress in 1916, the BSA's mission is to train youth in
responsible citizenship, character development, and self-reliance
through participation in a wide range of outdoor activities,
educational programs, and, at older age levels, career-oriented
programs in partnership with community organizations. Its national
headquarters is located in Irving, Texas.
The Boy Scouts of America and affiliate Delaware BSA, LLC, sought
Chapter 11 protection (Bankr. D. Del. Lead Case No. 20-10343) on
Feb. 18, 2020, to deal with sexual abuse claims.
Boy Scouts of America was estimated to have $1 billion to $10
billion in assets and at least $500 million in liabilities as of
the bankruptcy filing.
The Debtors have tapped Sidley Austin LLP as their bankruptcy
counsel, Morris, Nichols, Arsht & Tunnell LLP as Delaware counsel,
and Alvarez & Marsal North America, LLC as financial advisor. Omni
Agent Solutions is the claims agent.
The U.S. Trustee for Region 3 appointed a tort claimants' committee
and an unsecured creditors' committee on March 5, 2020. The tort
claimants' committee is represented by Pachulski Stang Ziehl &
Jones, LLP, while the unsecured creditors' committee is represented
by Kramer Levin Naftalis & Frankel, LLP.
BOY SCOUTS: O'Brien & Ford Represents Unsecured Claimants
---------------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
the law firm of O'Brien & Ford, PC submitted a verified statement
to disclose that it is representing the unsecured claimants in the
Chapter 11 cases of Boy Scouts of America and Delaware BSA, LLC.
The names and contact details of the Clients were redacted from
publicly available filings.
The Clients assert these claims:
Claim No.
---------
50205
82938
68193
54989
89057
The Clients each hold general unsecured claims against BSA, certain
non-debtor Local Councils, or Chartered Organizations arising from
childhood sexual abuse at the time the Clients were Scouts with the
BSA and the applicable Local Councils and Chartered Organizations.
The Firm can be reached at:
O'BRIEN & FORD, PC
Jennifer R. Liakos, Esq.
4549 Main St., Suite 201
Buffalo, NY 14226
Telephone: (716) 907-7777
E-mail: JLiakos@obrienandford.com
A copy of the Rule 2019 filing is available at
https://bit.ly/3mJiIgz at no extra charge.
About Boy Scouts of America
The Boy Scouts of America -- https://www.scouting.org/ -- is a
federally chartered non-profit corporation under title 36 of the
United States Code. Founded in 1910 and chartered by an act of
Congress in 1916, the BSA's mission is to train youth in
responsible citizenship, character development, and self-reliance
through participation in a wide range of outdoor activities,
educational programs, and, at older age levels, career-oriented
programs in partnership with community organizations. Its national
headquarters is located in Irving, Texas.
The Boy Scouts of America and affiliate Delaware BSA, LLC, sought
Chapter 11 protection (Bankr. D. Del. Lead Case No. 20-10343) on
Feb. 18, 2020, to deal with sexual abuse claims.
Boy Scouts of America was estimated to have $1 billion to $10
billion in assets and at least $500 million in liabilities as of
the bankruptcy filing.
The Debtors have tapped Sidley Austin LLP as their bankruptcy
counsel, Morris, Nichols, Arsht & Tunnell LLP as Delaware counsel,
and Alvarez & Marsal North America, LLC as financial advisor. Omni
Agent Solutions is the claims agent.
The U.S. Trustee for Region 3 appointed a tort claimants' committee
and an unsecured creditors' committee on March 5, 2020. The tort
claimants' committee is represented by Pachulski Stang Ziehl &
Jones, LLP, while the unsecured creditors' committee is represented
by Kramer Levin Naftalis & Frankel, LLP.
BOY SCOUTS: Tammy Carter Represents Direct Abuse Claimants
----------------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
the Law Office of Tammy Carter submitted a verified statement to
disclose that it is representing the Direct Abuse Claimants in the
Chapter 11 cases of Boy Scouts of America and Delaware BSA, LLC.
The names and contact details of the Clients were redacted from
publicly available filings.
* Claim No: 66022
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
* Claim No: 18731
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
* Claim No: 70014
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
* Claim No: 64779
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
* Claim No: 15265
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
* Claim No: 70594
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
* Claim No: 71447
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
* Claim No: 21945
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
* Claim No: 21968
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
* Claim No: 32360
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
* Claim No: 15732
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
* Claim No: 71782
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
* Claim No: 17218
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
* Claim No: 69826
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
* Claim No: 72059
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
* Claim No: 71800
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
* Claim No: 71960
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
* Claim No: 28290
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
* Claim No: 71664
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
* Claim No: 40535
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
* Claim No: 91577
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
* Claim No: 89900
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
* Claim No: 90804
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
* Claim No: 28348
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
* Claim No: 29241
Claimant's address: c/o Law Office of Tammy Cater
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
Economic Interest: Unliquidated Abuse Claim
The Firm can be reached at:
Tammy R. Carter, Esq.
LAW OFFICE OF TAMMY CARTER
1636 N. Swan Rd., Ste. 206
Tucson, AZ 85712
E-mail: tammy@tcarterlaw.com
Tel: (520) 904-0143
A copy of the Rule 2019 filing is available at
https://bit.ly/3pCRjPh at no extra charge.
About Boy Scouts of America
The Boy Scouts of America -- https://www.scouting.org/ -- is a
federally chartered non-profit corporation under title 36 of the
United States Code. Founded in 1910 and chartered by an act of
Congress in 1916, the BSA's mission is to train youth in
responsible citizenship, character development, and self-reliance
through participation in a wide range of outdoor activities,
educational programs, and, at older age levels, career-oriented
programs in partnership with community organizations. Its national
headquarters is located in Irving, Texas.
The Boy Scouts of America and affiliate Delaware BSA, LLC, sought
Chapter 11 protection (Bankr. D. Del. Lead Case No. 20-10343) on
Feb. 18, 2020, to deal with sexual abuse claims.
Boy Scouts of America was estimated to have $1 billion to $10
billion in assets and at least $500 million in liabilities as of
the bankruptcy filing.
The Debtors have tapped Sidley Austin LLP as their bankruptcy
counsel, Morris, Nichols, Arsht & Tunnell LLP as Delaware counsel,
and Alvarez & Marsal North America, LLC as financial advisor. Omni
Agent Solutions is the claims agent.
The U.S. Trustee for Region 3 appointed a tort claimants' committee
and an unsecured creditors' committee on March 5, 2020. The tort
claimants' committee is represented by Pachulski Stang Ziehl &
Jones, LLP, while the unsecured creditors' committee is represented
by Kramer Levin Naftalis & Frankel, LLP.
BOY SCOUTS: Thomas Legal Represents Unsecured Claimant
------------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
the law firm of Thomas Counselor at Law, LLC submitted a verified
statement to disclose that it is representing an unsecured claimant
in the Chapter 11 cases of Boy Scouts of America and Delaware BSA,
LLC.
The Client holds general unsecured claims against BSA, certain
non-debtor Local Councils, or Chartered Organizations arising from
childhood sexual abuse at the time the Clients were Scouts with the
BSA and the applicable Local Councils and Chartered Organizations.
The name and contact details of the Clients were redacted from
publicly available filings.
* Claim No: SA-60421
Claimant's address: c/o TLC Law LLC
11 Broadway, Suite 625
New York, NY 10004
Economic Interest: Unliquidated Abuse Claims
The Clients, through their undersigned counsel, reserve the right
to amend or supplement this Verified Statement in accordance with
the requirements of Bankruptcy Rule 2019 at any time in the
future.
Counsel for Claimant can be reached at:
Kathleen R. Thomas, Esq.
THOMAS LEGAL COUNSEL COUNSELOR AT LAW, LLC
11 Broadway, Suite 615
New York, NY 10004
Tel: (917) 209-6446
E-mail: kat@tlclawllc.com
A copy of the Rule 2019 filing is available at
https://bit.ly/3pGZbzq at no extra charge.
About Boy Scouts of America
The Boy Scouts of America -- https://www.scouting.org/ -- is a
federally chartered non-profit corporation under title 36 of the
United States Code. Founded in 1910 and chartered by an act of
Congress in 1916, the BSA's mission is to train youth in
responsible citizenship, character development, and self-reliance
through participation in a wide range of outdoor activities,
educational programs, and, at older age levels, career-oriented
programs in partnership with community organizations. Its national
headquarters is located in Irving, Texas.
The Boy Scouts of America and affiliate Delaware BSA, LLC, sought
Chapter 11 protection (Bankr. D. Del. Lead Case No. 20-10343) on
Feb. 18, 2020, to deal with sexual abuse claims.
Boy Scouts of America was estimated to have $1 billion to $10
billion in assets and at least $500 million in liabilities as of
the bankruptcy filing.
The Debtors have tapped Sidley Austin LLP as their bankruptcy
counsel, Morris, Nichols, Arsht & Tunnell LLP as Delaware counsel,
and Alvarez & Marsal North America, LLC as financial advisor. Omni
Agent Solutions is the claims agent.
The U.S. Trustee for Region 3 appointed a tort claimants' committee
and an unsecured creditors' committee on March 5, 2020. The tort
claimants' committee is represented by Pachulski Stang Ziehl &
Jones, LLP, while the unsecured creditors' committee is represented
by Kramer Levin Naftalis & Frankel, LLP.
BRIGHT MOUNTAIN: Incurs $72.7 Million Net Loss in 2020
------------------------------------------------------
Bright Mountain Media, Inc. filed with the Securities and Exchange
Commission its Annual Report on Form 10-K disclosing a net loss of
$72.71 million on $15.84 million of advertising revenue for the
year ended Dec. 31, 2020, compared to a net loss of $4.17 million
on $6.69 million of advertising revenue for the year ended Dec. 31,
2019.
As of Dec. 31, 2020, the Company had $36.53 million in total
assets, $33.01 million in total liabilities, and $3.51 million in
total shareholders' equity.
East Brunswick, New Jersey-based WithumSmith+Brown, PC, the
Company's auditor since 2021, issued a "going concern"
qualification in its report dated Dec. 23, 2021, citing that the
Company has suffered recurring losses from operations and has a net
capital deficiency that raise substantial doubt about its ability
to continue as a going concern.
A full-text copy of the Form 10-K is available for free at:
https://www.sec.gov/Archives/edgar/data/1568385/000149315221032437/form10k.htm
About Bright Mountain
Based in Boca Raton, Fla., Bright Mountain Media, Inc. --
www.brightmountainmedia.com -- is an end-to-end digital media and
advertising services platform, efficiently connecting brands with
targeted consumer demographics. In addition to its corporate
website, the Company owns and/or manages 24 websites which are
customized to provide its niche users, including active, reserve
and retired military, law enforcement, first responders and other
public safety employees with products, information and news that
the Company believes may be of interest to them. The Company also
owns an ad network which was acquired in September 2017.
CALIFORNIA INDEPENDENT: Taps Alcorn Law Corp. as Special Counsel
----------------------------------------------------------------
California Independent Petroleum Association seeks approval from
the U.S. Bankruptcy Court for the Eastern District of California to
hire Alcorn Law Corporation as special counsel.
The firm's services include:
a. Advice and guidance on board governance and legal
requirements for corporate entities; and
b. Contract review and creation with various third parties.
Mark Alcorn, Esq., and Molly Alcorn, Esq., the firm's attorneys who
will be providing the services, will charge $340 per hour and $225
per hour, respectively.
In addition, the attorneys will seek reimbursement for work-related
expenses.
Mr. Alcorn disclosed in a court filing that the firm and its
attorneys neither hold nor represent any interest adverse to the
Debtor's estate.
Alcorn Law Corporation can be reached at:
Mark D. Alcorn, Esq.
Molly K. Alcorn, Esq.
Alcorn Law Corporation
5620 Birdcage Street, Suite 200
Citrus Heights, CA 95610-7691
Direct: (916) 320-6456 / (530) 400-6604
Email: mark@alcornlaw.com
molly@alcornlaw.com
About CIPA
California Independent Petroleum Association (CIPA) -- www.cipa.org
-- is a non-profit, non-partisan trade association representing
approximately 500 independent crude oil and natural gas producers,
royalty owners, and service and supply companies operating in
California.
CIPA filed a petition for Chapter 11 protection (Bankr. E.D. Calif.
Case No. 21-23169) on Sept. 5, 2021, listing $2,097,356 in assets
and $1,194,070 in liabilities. CIPA CEO Rock Zierman signed the
petition.
Judge Christopher D. Jaime oversees the case.
Ian S. Landsberg, Esq., at Sklar Kirsh, LLP is the Debtor's
bankruptcy counsel. Manatt, Phelps & Phillips, LLP and Alcorn Law
Corporation serve as special counsel.
CICO ELECTRICAL: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: CICO Electrical Contractors, Inc.
7021 Rosecrans Avenue
Paramount, CA 90723
Business Description: The Debtor is an electrical contractor
based in Paramount, CA.
Chapter 11 Petition Date: December 31, 2021
Court: United States Bankruptcy Court
Central District of California
Case No.: 21-19348
Judge: Hon. Vincent P. Zurzolo
Debtor's Counsel: Michael Jay Berger, Esq.
LAW OFFICES OF MICHAEL JAY BERGER
9454 Wilshire Boulevard, 6th Floor
Beverly Hills, CA 90212
Tel: (310) 271-6223
Fax: (310) 271-9805
E-mail: michael.berger@bankruptcypower.com
Total Assets: $785,610
Total Liabilities: $2,326,689
The petition was signed by Cecelio Anthony Jaure, chief executive
officer.
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/2EO66FA/CICO_Electrical_Contractors_Inc__cacbke-21-19348__0001.0.pdf?mcid=tGE4TAMA
COVER FX: SSG Advises Business in Asset Sale to AS Beauty
---------------------------------------------------------
SSG Capital Advisors, LLC (SSG) acted as the investment banker to
Cover FX Skin Care Limited (Cover FX or the Company) in the sale of
substantially all of its assets to AS Beauty Group, LLC (AS
Beauty). The transaction closed in December 2021.
Founded over 20 years ago, New York-based Cover FX is a beloved
producer of clean, high-performance, vegan and cruelty-free
cosmetics. All of its products are made with safe, non-toxic
ingredients recommended for all skin types and offered in a global
palette for every skin tone. Key product lines include primers,
foundations, concealers, setting powders, setting sprays and
mascara. With a customizable approach to color and coverage, the
Company's products engage customers with complexion-enhancing and
skincare-loving makeup.
Cover FX's products were primarily sold through dedicated cosmetic
retailers and department stores. However, the pandemic caused the
Company's traditional retailers to reset shelf space, reduce
inventory levels, and change purchasing patterns, negatively
impacting top-line sales. In response, Cover FX rapidly accelerated
its e-commerce and digital growth strategy, reduced costs, and
invested resources in its e-commerce platform. To achieve its
long-term objectives, the Company sought a strategic partner or
investor to strengthen its capital base and solidify operations for
future growth.
SSG was retained to conduct a comprehensive marketing process and
solicit offers. Leveraging its significant consumer products
experience, SSG canvassed a wide range of investors, delivering
competitive offers from multiple strategic parties, including brand
aggregators, that engaged in a thorough review of the business. The
sale to AS Beauty proved to be the best solution as it provides
Cover FX with the capital and operational expertise to execute its
growth plan. SSG's experience running efficient sale processes
enabled Cover FX to continue operations, preserve the brand,
maintain customer loyalty, and maximize value for all
stakeholders.
Headquartered in New York City, AS Beauty is focused on developing
global beauty brands that deliver real-world solutions to a diverse
consumer base.Founded in 2019 byAlan and Joey Shamah, the original
founders of e.l.f. Cosmetics, AS Beauty's current portfolio
consists of Julep Beauty,Laura Geller, and Mally Beauty.
Other professionals who worked on the transaction include:
* George P. Angelich, Justin A. Kesselman, Eric B. Hamburg, and
Patrick Feeney of Arent Fox LLP, counsel to Cover FX Skin Care
Limited;
* Bruce Chapple and Tushara Weerasooriya of McMillan LLP,
Canadian counsel to Cover FX Skin Care Limited;
* Eric M. Huebscher of Huebscher & Co., Financial Advisor to
Cover FX Skin Care Limited;
* William Lenhart of WKL Advisors, LLC, Independent Board
Member to Cover FX Skin Care Limited;
* Michael B. Goldsmith, Marc D. Leve and Elyse A. Marcus of
Sills Cummis & Gross P.C., counsel to AS Beauty Group, LLC; and
* Brent R. McIlwain of Holland & Knight LLP, counsel to the
secured lender.
About SSG Capital Advisors, LLC
SSG Capital Advisors is an independent boutique investment bank
that assists middle-market companies and their stakeholders in
completing special situation transactions. It provides its clients
with comprehensive investment banking services in the areas of
mergers and acquisitions, private placements, financial
restructurings, valuations, litigation, and strategic advisory. SSG
has a proven track record of closing over 400 transactions in North
America and Europe and is a leader in the industry.
Securities are offered through SSG Capital Advisors, LLC (Member
SIPC, Member FINRA). All other transactions are effectuated through
SSG Advisors, LLC, both of which are wholly owned by SSG Holdings,
LLC. SSG is a registered trademark for SSG Capital Advisors, LLC
and SSG Advisors, LLC.
CRECHALE PROPERTIES: Taps Jason Gunter of Realty Star as Realtor
----------------------------------------------------------------
Crechale Properties, LLC seeks approval from the U.S. Bankruptcy
Court for the Southern District of Mississippi to hire Jason
Gunter, a realtor at Realty Star Network, LLC.
The Debtor requires the services of a realtor for the purpose of
selling multiple parcels of real property located at 305 Lakewood
Loop, Hattiesburg, Miss.
The Debtor will pay Mr. Gunter a commission of 5 percent of the
sales price of the real property. The property is listed at
$99,900.
Mr. Gunter disclosed in a court filing that he and his firm are
"disinterested" within the meaning of Section 101(14) of the
Bankruptcy Code.
Mr. Gunter holds office at:
Jason M. Gunter
Realty Star Network, LLC
6214 US Highway 49, Suite B
Hattiesburg, MS 39401
Phone: +1 601-447-7240
About Crechale Properties
Crechale Properties, LLC is a Hattiesburg, Miss.-based company
engaged in the operation of apartment buildings.
Crechale Properties filed its voluntary petition for Chapter 11
protection (Bankr. S.D. Miss. Case No. 21-50079) on Jan. 21, 2021,
listing up to $10 million in assets and up to $50 million in
liabilities. Elizabeth Crechale, manager of Crechale Properties,
signed the petition.
Judge Katharine M. Samson presides over the case.
W. Jarrett Little, Esq., at Lentz & Little, PA serves as the
Debtor's legal counsel.
DJ'S TOWING: Case Summary & 3 Unsecured Creditors
-------------------------------------------------
Debtor: DJ's Towing & Transport LLC
2596 SE Robin Clr
Port Saint Lucie, FL 34952-7052
Chapter 11 Petition Date: December 21, 2021
Court: United States Bankruptcy Court
Southern District of Florida
Case No.: 21-21882
Judge: Hon. Erik P. Kimball
Debtor's Counsel: Julianne Frank, Esq.
JULIANNE FRANK, ATTY AT LAW
4495 Military Tri Ste 107
Jupiter, FL 33458-4818
Email: julianne@jrfesq.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $100,000 to $500,000
The petition was signed by Rodin Bodhu, managing member.
A full-text copy of the petition containing, among other items, a
list of the Debtor's three unsecured creditors is available for
free at PacerMonitor.com at:
https://www.pacermonitor.com/view/XAUPWIY/DJs_Towing__Transport_LLC__flsbke-21-21882__0001.0.pdf?mcid=tGE4TAMA
FIRST STEP: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: First Step Trademarks, LLC
P.O. Box 295
New York, NY 10276
Chapter 11 Petition Date: December 31, 2021
Court: United States Bankruptcy Court
Southern District of New York
Case No.: 21-12147
Debtor's Counsel: Ilana Volkov, Esq.
MCGRAIL & BENSINGER LLP
888-C Eighth Avenue, #107
New York, NY 10019
Tel: (201) 931-6910
Email: ivolkov@mcgrailbensinger.com
Estimated Assets: $100,000 to $500,000
Estimated Liabilities: $1 million to $10 million
The petition was signed by Alexander Dulac, managing member.
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/LRYFZDQ/First_Step_Trademarks_LLC__nysbke-21-12147__0001.0.pdf?mcid=tGE4TAMA
FUELCELL ENERGY: Incurs $101 Million Net Loss in FY Ended Oct. 31
-----------------------------------------------------------------
FuelCell Energy, Inc. filed with the Securities and Exchange
Commission its Annual Report on Form 10-K disclosing a net loss of
$101.03 million on $69.59 million of total revenues for the year
ended Oct. 31, 2021, compared to a net loss of $89.11 million on
$70.87 million of total revenues for the year ended Oct. 31, 2020.
As of Oct. 31, 2021, the Company had $875.25 million in total
assets, $169.92 million in total liabilities, $59.86 million in
redeemable series B preferred stock, $3.03 million in redeemable
noncontrolling interests, and $642.44 million in total equity.
Net loss was $(24.2) million in the fourth fiscal quarter of 2021,
compared to net loss of $(18.9) million in the fourth fiscal
quarter of 2020, due to higher operating expenses and a higher
gross loss for the fourth fiscal quarter of 2021 compared to the
fourth fiscal quarter of 2020. The fourth fiscal quarter of 2020
included a $2.2 million favorable adjustment for the fair value of
the common stock warrants issued to the lenders under the Company's
now extinguished credit facility with Orion Energy Partners
Investment Agent, LLC and its affiliated lenders, and the fourth
fiscal quarter of 2021 included lower interest expense as a result
of the early repayment of all amounts owed under the Orion credit
facility.
The net loss per share attributable to common stockholders in the
fourth fiscal quarter of 2021 was $(0.07), compared to $(0.08) in
the fourth fiscal quarter of 2020. The lower net loss per common
share was primarily due to the higher weighted average shares
outstanding due to share issuances since Oct. 31, 2020, partially
offset by the higher net loss attributable to common stockholders.
Adjusted EBITDA totaled $(11.9) million in the fourth fiscal
quarter of 2021, compared to Adjusted EBITDA of $(8.6) million in
the fourth fiscal quarter of 2020.
Cash, Restricted Cash and Financing Update
On June 11, 2021, the Company entered into an Open Market Sale
Agreement with Jefferies LLC and Barclays Capital Inc. with respect
to an at the market offering program under which the Company may,
from time to time, offer and sell shares of the Company's common
stock having an aggregate offering price of up to $500 million.
Pursuant to the Open Market Sale Agreement, the Company paid the
Agent making each sale a commission equal to 2.0% of the aggregate
gross proceeds it received from such sale by such Agent of shares
under the Open Market Sale Agreement. From the date of the Open
Market Sale Agreement through Oct. 31, 2021, approximately 44.1
million shares were sold under the Open Market Sale Agreement at an
average sales price of $8.56 per share, resulting in gross proceeds
of $377.2 million, before deducting expenses and sales commissions.
Net proceeds to the Company totaled approximately $369.7 million
after deducting commissions and offering expenses totaling
approximately $7.5 million. The Company plans to use the net
proceeds from this offering to accelerate the development and
commercialization of its Advanced Technologies products, including
its solid oxide platform, for project development, for internal
research and development, to invest in capacity expansion for solid
oxide and carbonate fuel cell manufacturing, and for project
financing, working capital support, and general corporate
purposes.
Cash and cash equivalents and restricted cash and cash equivalents
totaled $460.2 million as of Oct. 31, 2021 compared to $192.1
million as of Oct. 31, 2020. The breakdown of unrestricted and
restricted cash is as follows:
* As of Oct. 31, 2021, unrestricted cash and cash equivalents
totaled $432.2 million, compared to $149.9 million of unrestricted
cash and cash equivalents as of Oct. 31, 2020.
* As of Oct. 31, 2021, restricted cash and cash equivalents
totaled $28.0 million, of which $11.3 million was classified as
current and $16.7 million was classified as non-current, compared
to $42.2 million of restricted cash and cash equivalents as of Oct.
31, 2020, of which $9.2 million was classified as current and $33.0
million was classified as non-current.
Management Commentary
"We are pleased with the continued advancement throughout the year
of our strategic agenda in terms of infrastructure, solutions and
talent to support achieving our long-term goals. We finished
fiscal year 2021 with slightly lower revenue compared to fiscal
year 2020, but we continued to make important progress on our
in-flight projects as well as new technology and applications under
development, such as the successful demonstration of the
effectiveness of our solid oxide fuel cell," said Mr. Jason Few,
president and CEO. "Since the end of fiscal year 2021, we have
favorably resolved our legal proceedings with POSCO Energy Co.,
Ltd. and clarified our access to the Asian market. We have also
advanced through commissioning our 7.4 megawatt power platform
located at the U.S. Navy Submarine Base in Groton, CT and our 7.4
megawatt power platform in Yaphank, NY. And, importantly, we
extended our joint development agreement with ExxonMobil Research
and Engineering Company until April 30, 2022."
"We continue to make progress against and evolve our Powerhouse
Business Strategy, which we launched two years ago," continued Mr.
Few. "As we have advanced, so must our strategy, and we are
evolving our strategy to now focus on the key pillars of Grow,
Scale and Innovate. We are in a unique period of time where our
solutions are increasingly sought after to help solve energy and
environmental challenges. We are working toward accelerating the
development and deployment of our platforms to position the company
to capture the substantial growth opportunity we foresee for both
our carbonate and solid oxide solutions."
"This plan for growth drives the need for expanding operational
capabilities and growing talent. We believe our opportunities for
commercial success have increased with the resolution of our legal
proceedings with POSCO Energy, which includes a commitment to order
20 fuel cell modules from us to service POSCO Energy's existing
installed base of carbonate fuel cell platforms. Lastly, I am
proud to report that we have met our annualized production rate
target of 45 megawatts on a single shift at our Torrington
facility, up from 17 megawatts at the end of fiscal year 2020."
"Looking forward, we are focused on executing against our existing
project backlog, while simultaneously increasing our annualized
production rate, repositioning our brand for the future and
building the next generation sales structure," continued Mr. Few.
"We are investing in our business to enhance our capabilities
across the organization and position the business to accelerate
growth leveraging our current commercially-available platforms and
accelerating the commercialization of our differentiated solid
oxide technology delivering electrolysis, long-duration hydrogen
energy storage, and hydrogen power generation given the increasing
energy transition opportunities we see before us. We look forward
to discussing more around our growth opportunities and initiatives
as part of our investor day in March."
Mr. Few concluded, "Fiscal year 2020 was a year in which we focused
on solving our operational challenges, whereas fiscal year 2021 was
defined by improved execution against our backlog, investing in the
capabilities of our global team, improving platform performance,
and working to take technology innovations from the laboratory to
commercial deployment. As we move into fiscal year 2022, we are
invigorated by our emphasis on growth, scale, innovation and
execution. The initial work under our Powerhouse Business Strategy
built the foundation over the past couple of years, and the
addressable opportunities globally given our repositioned company
have never been greater for FuelCell Energy."
A full-text copy of the Form 10-K is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/0000886128/000155837021017054/fcel-20211031x10k.htm
About FuelCell Energy
Headquartered in Danbury, Connecticut, FuelCell Energy, Inc. --
http://www.fuelcellenergy.com-- is a global developer of
environmentally responsible distributed baseload power solutions
through its proprietary fuel cell technology. The Company targets
large-scale power users with its megawatt-class installations
globally, and currently offer sub-megawatt solutions for smaller
power consumers in Europe. The Company develops turn-key
distributed power generation solutions and operate and provide
comprehensive service for the life of the power plant.
GIGA-TRONICS INC: Signs Share Exchange Deal With BitNile, Gresham
-----------------------------------------------------------------
Giga-tronics Incorporated has entered into a Share Exchange
Agreement with BitNile Holdings, Inc. and BitNile's global defense
subsidiary, Gresham Worldwide, Inc., providing for Giga's
acquisition of Gresham. The transaction combines Giga, a producer
of sophisticated RADAR and Electronic Warfare threat emulation
systems and RF filters, with Gresham, a global provider of
proprietary, purpose-built electronic solutions to militaries and
leading defense companies around the world in the areas of RF
devices, power electronics, automated test and missile launch.
The companies expect the transaction to generate synergies that
will enable the combined entity to significantly enhance their
position in the rapidly growing market for electronic warfare and
RF solutions, driven by a heightened global awareness of the
importance of electromagnetic spectrum superiority. The combined
entity will have over 60 global defense industry customers,
expected combined revenues of approximately $‐‐40 million for
the 12 months ending March 2023 and operations spanning the globe.
"We eagerly look forward to combining with Gresham Worldwide,"
commented John Regazzi, chief executive officer of Giga.
"Gresham's operations complement Giga well with little overlap. The
combination accelerates Giga's efforts to grow in attractive market
areas by adding scale, production capacity, engineering, R&D
expertise and global reach with access to many new customers. The
combined entity will be well-positioned to drive organic and
inorganic growth, realize cost synergies and leverage management's
expertise to drive value for our shareholders."
"Gresham Worldwide aims to accelerate growth, both organically and
through acquisitions of similar providers of bespoke technology
solutions for defense customers," commented Jonathan R. Read, chief
executive officer of Gresham. "Joining with Giga, a
well-established developer of key technologies for defense
applications, enables Gresham to better serve customers in our core
markets and unlock synergies across our operating subsidiaries.
Combining with Giga expands Gresham's presence in the US defense
market -- adding strong management, innovative technology and
enhanced engineering resources to benefit investors, customers and
employees alike. We also gain access to public capital markets
that will allow for more creative growth strategies."
The Agreement contemplates that Giga will acquire Gresham from
BitNile in exchange for shares of Giga common stock and preferred
stock and that Giga will repurchase or redeem its currently
outstanding shares of preferred stock. Currently outstanding
shares of Giga common stock will remain outstanding. As a result
of and immediately following these transactions, the combined
entity will continue as a publicly traded company, approximately
68% of which will be owned by BitNile.
The transactions are subject to the approval of Giga's shareholders
and other customary conditions. The parties expect to complete
Giga's acquisition of Gresham during the first calendar quarter of
2022.
About Giga-tronics Inc.
Headquartered in Dublin, California, Giga-tronics is a publicly
held company, traded on the OTCQB Capital Market under the symbol
"GIGA". Giga-tronics -- http://www.gigatronics.com-- produces
RADAR filters and Microwave Integrated Components for use in
military defense applications as well as sophisticated RADAR and
Electronic Warfare (RADAR/EW) test products primarily used in
electronic warfare test & emulation applications.
Giga-Tronics reported a net loss attributable to common
shareholders of $407,000 for the year ended March 27, 2021,
compared to a net loss attributable to common shareholders of $2.03
million for the year ended March 28, 2020. As of Sept. 25, 2021,
the Company had $9.10 million in total assets, $3.76 million total
liabilities, and $5.34 million in total shareholders' equity.
H-CYTE INC: Michael Yurkowsky Retains CEO Role
----------------------------------------------
H-Cyte, Inc., entered into an employment agreement with Michael
Yurkowsky, the Company's chief executive officer, to continue to
serve as the chief executive officer of the Company. Under the
Employment Agreement, which commenced on Dec. 1, 2021 and has a
term of one year from the Effective Date, Mr. Yurkowsky will
receive a base salary of $180,000 per year. Upon the expiration of
the Employment Period, Mr. Yurkowsky's employment with the Company
will be on an at-will basis.
In addition to his base salary, Mr. Yurkowsky may receive an
one-time cash bonus in gross amount equal to $100,000 if (i) the
Company's stock is listed and quoted on the NASDAQ Global Select
Market, the NASDAQ Global Market, the NASDAQ Capital Market, or the
New York Stock Exchange; or (ii) the Company secures and receives
financing of at least $10,000,000.
As additional compensation, Mr. Yurkowsky will receive shares of
common stock of the Company representing 1% of the Company's fully
diluted equity as of the grant date if the Company achieves a
market capitalization of at least $250 million for 60 consecutive
days during the Employment Period. If the Company achieves a
market capitalization of at least $500 million for 60 consecutive
days during the Employment Period, the Executive shall receive an
additional Equity Award of 1%, such that he has in the aggregate
received shares of common stock of the Company representing 2% of
the Company's fully diluted equity as of the date of grant.
In general, during his employment and for a period of one year
thereafter, Mr. Yurkowsky is prohibited from (a) competing with the
Company within its territory; (b) soliciting the Company's
customers for a competing business; or (c) soliciting the Company's
employees for a competing business.
As more specifically described and set forth in the Employment
Agreement, the Employment Agreement contains certain rights of Mr.
Yurkowsky and the Company to terminate Mr. Yurkowsky's employment,
including a termination by the Company for "Cause" as defined in
the Employment Agreement, and specifies certain compensation
following termination without during the Employment Agreement.
About H-CYTE Inc.
Headquartered in Tampa, Florida, H-CYTE -- http://www.HCYTE.com/--
is a hybrid-biopharmaceutical company dedicated to developing and
delivering new treatments for patients with chronic respiratory and
pulmonary disorders.
H-Cyte reported a net loss of $6.46 million for the year ended Dec.
31, 2020, compared to a net loss of $29.81 million for the year
ended Dec. 31, 2019. As of June 30, 2021, the Company had $1.98
million in total assets, $5.63 million in total liabilities, and a
total stockholders' deficit of $3.65 million.
Tampa, Florida-based Frazier & Deeter, LLC, issued a "going
concern" qualification in its report dated March 25, 2021, citing
that the Company has negative working capital, has an accumulated
deficit, has a history of significant operating losses, and has a
history of negative operating cash flow. These factors raise
substantial doubt about the Company's ability to continue as a
going concern.
HELLO LIVING: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Hello Living Developer Nostrand LLC
17 Tokay Lane
Monsey, NY 10952
Business Description: Hello Living Developer Nostrand LLC is a
Single Asset Real Estate debtor (as defined
in 11 U.S.C. Section 101(51B)).
Chapter 11 Petition Date: December 21, 2021
Court: United States Bankruptcy Court
Southern District of New York
Case No.: 21-22696
Debtor's Counsel: Leo Fox, Esq.
630 Third Avenue - 18th Floor
New York, NY 10017
Tel: (212) 867-9595
Email: leo@leofoxlaw.com
Estimated Assets: $50 million to $100 million
Estimated Liabilities: $50 million to $100 million
The petition was signed by Eli Karp, manager.
A full-text copy of the petition is available for free at
PacerMonitor.com at:
https://www.pacermonitor.com/view/LN2I43Q/Hello_Living_Developer_Nostrand__nysbke-21-22696__0001.0.pdf?mcid=tGE4TAMA
List of Debtor's 20 Largest Unsecured Creditors:
Entity Nature of Claim Claim Amount
------ --------------- ------------
1. Magellan Concrete $620,000
233 Powell Street
Brooklyn, New York 11207
2. Capital Cooling $284,097
5308 13th Avenue #215
Brooklyn, New York 11219
3. Unique Painting $198,400
225 Brighton 2nd Lane - Apt. 3
Brooklyn, New York 11235
4. TM Plumbing & Heating $90,000
4148 68 Street
Woodside, New York 11377
5. K.K.O. Management $57,500
1047 Rogers Avenue
Brookly, New York 11226
6. Stone Guard $56,981
1030 East 13th Street
Brooklyn, New York 11230
7. NV General Construction $50,000
175 Stanhope Street - Apt. 2
Brooklyn, New York 11237
8. Secure Roofing $40,103
1214 46th Street
Brooklyn, New York 11219
9. European American Window $35,305
39 Southgate Road
North Woodmere, New York 11581
10. In Style Kitchens $30,750
5709 20th Avenue
Brooklyn, New York 11204
11. Prestige Construction $28,850
4010 14th Avenue
Brooklyn, New York 11218
12. PRC Contracting $19,500
106-10 Union Hall Street
Jamaica, New York 11433
13. Right One Interior $15,352
516 Bristol Street
Brooklyn, New York 11210
14. CMY Electrical $15,247
134 Haig Road
Valley Stream, New York 11581
15. Prime Interiors $14,279
53 Walton Street, Apt. 205
Brooklyn, New York 11206
16. Excel Security System $14,279
71 Bengeyfield Drive
East Williston, New York 11596
17. TJ Destiny Corp. $14,000
18. Gagan General Construction $12,788
115-07 115th Street 1st Floor
South Ozone Park, New York 11420
19. J&C Steel Fabricators $10,996
197 Shefield Avenue
Brooklyn, New York 11207
20. J&A Iron Works $10,842
141 32nd Street
Brooklyn, New York 11232
JURASSIC JUMP: Case Summary & 16 Unsecured Creditors
----------------------------------------------------
Debtor: The Jurassic Jump, LLC
f/d/b/a Rockin' Jump
d/b/a Trampoline Park Valencia
28656 The Old Road
Valencia, CA 91355
Business Description: The Jurassic Jump, LLC owns and operates a
trampoline park in Valencia, CA.
Chapter 11 Petition Date: December 30, 2021
Court: United States Bankruptcy Court
Central District of California
Case No.: 21-19516
Judge: Hon. Sheri Bluebond
Debtor's Counsel: Daniel J. Weintraub, Esq.
WEINTRAUB & SEITH, APC
11766 Wilshire Boulevard
Suite 1170
Los Angeles, CA 90025
Tel: (310) 207-1494
Fax: (310) 442-0660
E-mail: dan@wsrlaw.net
Estimated Assets: $100,000 to $500,000
Estimated Liabilities: $1 million to $10 million
The petition was signed by Atousa K. Afshari, managing member.
A full-text copy of the petition containing, among other items, a
list of the Debtor's 16 unsecured creditors is available for free
at PacerMonitor.com at:
https://www.pacermonitor.com/view/NTHPRCI/The_Jurassic_Jump_LLC__cacbke-21-19516__0001.0.pdf?mcid=tGE4TAMA
KAYA HOLDINGS: Appoints Mitchell Chupak as Director
---------------------------------------------------
Kaya Holdings, Inc.' board of directors appointed Mitchell Chupak
as a director of the company, to fill the vacancy created by the
resignation of Jordi Arimany. Mr. Arimany's resignation was a
result of his relocation to South Africa.
Mr. Chupak, 67, has resided in Israel since 1972, where since 1997,
he has been the Director of Development for the Jaffa Institute,
the largest not for profit social service agency serving southern
portions of Tel-Aviv-Jaffa, Israel and its suburbs. During his
over 25 years at the Jaffa Institute, Mr. Chupak has grown the
organization extensively and is responsible for development of
major social services, educational and community projects for which
he secured millions of dollars in funding. He developed funding
sources worldwide and enlisted the aid of major donors in the
United States, Canada, Europe, Australia, and South America.
In 2005, Mr. Chupak created the Israel Fundraisers Forum to assist
other non-profit organizations better understand methods of
fundraising. The forum, with which he has been associated since
its founding, promotes professionalism in fundraising and
development and assists both organizations and individual
fundraisers to improve methods of the profession.
The company believes that Mr. Chupak's spectrum of experience in
both management and funding, will add value its board of
directors.
As is the case with all of the company's independent directors, Mr.
Chupak will be compensated with an annual grant of common stock,
currently fixed at 100,000 shares annually.
About Kaya Holdings
Kaya Holdings, Inc. -- http://www.kayaholdings.com-- is a
vertically integrated legal marijuana enterprise that produces,
distributes, and/or sells a full range of premium cannabis products
including flower, oils, vape cartridges and cannabis infused
confections, baked goods and beverages through a fully integrated
group of subsidiaries and companies supporting highly distinctive
brands.
Kaya Holdings reported a net loss of $12.29 million for the 12
months ended Dec. 31, 2020, compared to net income of $7.52 million
for the 12 months ended Dec. 31, 2019. As of Sept. 30, 2021, the
Company had $2.20 million in total assets, $19.03 million in total
liabilities, and a net stockholders' deficit of $16.83 million.
Houston, Texas-based M&K CPAS, PLLC, the Company's auditor since
2018, issued a "going concern" qualification in its report dated
March 31, 2021, citing that the Company has suffered net losses
from operations and has a net capital deficiency, which raises
substantial doubt about its ability to continue as a going concern.
KAYA HOLDINGS: Signs Exchange Agreement With CEO, BMN Consultants
-----------------------------------------------------------------
Kaya Holdings, Inc. entered into an exchange agreement with the
current holders of its 100,000 outstanding shares of Series C
Convertible Preferred Stock, Craig Frank, its chairman and chief
executive officer and BMN Consultants, Inc., to restructure their
preferred holdings.
Each of Mr. Frank and BMN held 50,000 shares of the Series C
Preferred Stock, each share of which was convertible at the option
of the holder into 28.88665 shares of the Company's common stock
(an aggregate of 2,888,665 shares) and voted on as "as converted"
basis together with the holders of shares of the Company's common
stock as single class, unless required otherwise by Delaware law.
As of Dec. 27, 2021, Mr. Frank and BMN each held 8.2% (a total of
16.4%) of the voting power of the Company's outstanding voting
stock by reason of their holding the Series C Preferred Stock.
As of Dec. 27, 2021 (the date of the Exchange Agreement), the
Company owed each of Tudog Consulting, LLC, a limited liability
company owned by Mr. Frank and BMN, approximately $588,000 in
accrued but unpaid compensation (a total of $1,176,000). Pursuant
to the Exchange Agreement, Tudog and BMN agreed to each waive
approximately $338,000 of the compensation due them and to defer
payment of the remaining $250,000 due to each of them to Jan. 1,
2025. As a result liabilities of approximately $676,000 will be
removed from the Company's balance sheet and $500,000 will be
reclassified as long-term debt on the Company's balance sheet.
In addition, pursuant to the Exchange Agreement, Mr. Frank and BMN
each exchanged their shares of the Series C Preferred Stock for the
issuance to each of them or their designees, of 20 shares of a
newly-designated class of Series D Convertible Preferred Stock.
Each share of the Series D Preferred Stock is convertible at the
option of the holder at any time and from time to time, into one
percent of the Company's "Fully Diluted Capitalization" at the date
of conversion. "Fully Diluted Capitalization" means the number of
issued and outstanding shares of KAYS' common stock, assuming the
conversion or exercise of all of the Company's outstanding
convertible or exercisable securities, including shares of
convertible preferred stock and all outstanding vested or unvested
options or warrants to purchase shares common stock, but excluding
debt securities convertible into common stock.
The Series D Preferred Stock votes on as "as converted" basis
together with the holders of shares of the Company's common stock
as single class, unless required otherwise by Delaware law.
Accordingly, holders of the Series D Preferred Stock will hold 1%
of the voting power of the Company's outstanding voting stock for
each shares of the Series Preferred Stock held or a total of 40% of
such voting power.
About Kaya Holdings
Kaya Holdings, Inc. -- http://www.kayaholdings.com-- is a
vertically integrated legal marijuana enterprise that produces,
distributes, and/or sells a full range of premium cannabis products
including flower, oils, vape cartridges and cannabis infused
confections, baked goods and beverages through a fully integrated
group of subsidiaries and companies supporting highly distinctive
brands.
Kaya Holdings reported a net loss of $12.29 million for the 12
months ended Dec. 31, 2020, compared to net income of $7.52
million
for the 12 months ended Dec. 31, 2019. As of Sept. 30, 2021, the
Company had $2.20 million in total assets, $19.03 million in total
liabilities, and a net stockholders' deficit of $16.83 million.
Houston, Texas-based M&K CPAS, PLLC, the Company's auditor since
2018, issued a "going concern" qualification in its report dated
March 31, 2021, citing that the Company has suffered net losses
from operations and has a net capital deficiency, which raises
substantial doubt about its ability to continue as a going concern.
LOADCRAFT INDUSTRIES: Case Summary & 20 Top Unsecured Creditors
---------------------------------------------------------------
Debtor: Loadcraft Industries, Ltd.
3811 N. Bridge St.
Brady, TX 76825
Business Description: Loadcraft Industries specializes in the
manufacturing of mobile drilling rig and
custom oilfield equipment.
Chapter 11 Petition Date: December 30, 2021
Court: United States Bankruptcy Court
Western District of Texas
Case No.: 21-11018
Judge: Hon. Tony M. Davis
Debtor's Counsel: Eric J. Taube, Esq.
WALLER LANSDEN DORTCH & DAVIS
100 Congress Ave
Suite 1800
Austin, TX 78701
Tel: 512-685-6400
Email: eric.taube@wallerlaw.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Charles E. Hinkle, manager of Brady
Plant Operators, L.L.C., general partner.
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/IQ4BSVY/Loadcraft_Industries_Ltd__txwbke-21-11018__0001.0.pdf?mcid=tGE4TAMA
LUX AMBER: Incurs $414K Net Loss in Second Quarter
--------------------------------------------------
Lux Amber, Corp. filed with the Securities and Exchange Commission
its Quarterly Report on Form 10-Q disclosing a net loss of $414,380
on $433,920 of revenue for the three months ended Oct. 31, 2021,
compared to a net loss of $638,190 on $396,155 of revenue for the
three months ended Oct. 31, 2020.
For the six months ended Oct. 31, 2021, the Company reported a net
loss of $728,921 on $857,748 of revenue compared to a net loss of
$1.20 million on $686,415 of revenue for the six months ended Oct.
31, 2020.
As of Oct. 31, 2021, the Company had $3.41 million in total assets,
$2.82 million in total liabilities, and $587,031 in total equity.
During the six-month period ended Oct. 31, 2021, the primary
sources of liquidity were cash flows from financing activities, and
in particular, issuance of stock and promissory notes.
As of Oct. 31, 2021, the Company had total assets of $3,407,314
consisting of current assets of $277,601, $178,556 in receivables,
$85,528 in inventory, $13,517 in prepaid expenses and other current
assets, and long-term assets of $2,309,953 in goodwill and other
intangibles, $451,136 in fixed assets, $26,965 on other long-term
assets, and $341,659 in right of use assets. As of April 30, 2021,
the Company had total assets of $3,353,460, consisting of current
assets of $112,982 in receivables, $137,211 in inventory, $7,960 in
prepaid expenses and other current assets and long-term assets of
$2,309,953 in goodwill and other intangibles, and $512,697 in fixed
assets and $272,657 in right of use assets.
As of Oct. 31, 2021, the Company had total liabilities totaling
$2,820,283 including $2,088,675 in current payables and accrued
expenses, $66,522 in related party payables, $240,627 notes
payable, $104,752 in Paycheck protection program loans, and
$319,707 in right of use liabilities. As of April 30, 2021, the
Company had total liabilities totaling $2,468,547 including
$1,756,156 in accounts payable and accrued expenses, $208,756 in
related party payables, $127,624 in notes payable, and $271,259 in
lease liabilities, and $104,752 in Paycheck protection program
loans.
As Oct. 31, 2021, the Company had an accumulated stockholders'
equity of $587,031 and $884,913 at April 30,2021.
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1740695/000168316821006460/luxamber_i10q-103121.htm
About Lux Amber Corp.
Headquartered in Frisco, TX, Lux Amber, Corp., formed on Jan. 19,
2018, is an international specialty chemical company. LAC has
three wholly owned subsidiaries: Worldwide Specialty Chemicals,
Inc., Industrial Chem Solutions, Inc., and Safeway Pest
Elimination, LLC.
Lux Amber reported a net loss of $1.98 million for the year ended
April 30, 2021, compared to a net loss of $1.49 million for the
year ended April 30, 2020. As of July 31, 2021, the Company had
$3.46 million in total assets, $2.62 million in total liabilities,
and $836,858 in total equity.
Plano, Texas-based Whitley Penn LLP, the Company's auditor since
2020, issued a "going concern" qualification in its report dated
Sept. 29, 2021, citing that the Company has suffered recurring
losses from operations and has a net capital deficiency that raises
substantial doubt about its ability to continue as a going concern.
MAG AUTO GROUP: Case Summary & 9 Unsecured Creditors
----------------------------------------------------
Debtor: Mag Auto Group Inc.
d/b/a Mag Motor Company
d/b/a Marin Auto Group
d/b/a Mag Investment Inc
1890 N Main Street
Walnut Creek, CA 94596
Business Description: Mag Auto Group Inc. is a used car dealer in
Walnut Creek, California.
Chapter 11 Petition Date: December 31, 2021
Court: United States Bankruptcy Court
Northern District of California
Case No.: 21-41536
Judge: Hon. William J. Lafferty
Debtor's Counsel: Marc Voisenat, Esq.
LAW OFFICES OF MARC VOISENAT
2329 A Eagle Avenue
Alameda, CA 94501
Tel: 510-263-8755
Fax: 510-272-9158
Email: voisenat@gmail.com
Estimated Assets: $500,000 to $1 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Pouriya Pete Mozaffary, president.
A full-text copy of the petition containing, among other items, a
list of the Debtor's nine unsecured creditors is available for free
at PacerMonitor.com at:
https://www.pacermonitor.com/view/XICYGSA/Mag_Auto_Group_Inc__canbke-21-41536__0001.0.pdf?mcid=tGE4TAMA
MULLEN AUTOMOTIVE: Incurs $44.2-Mil. Net Loss in FY Ended Sept. 30
------------------------------------------------------------------
Mullen Automotive Inc. filed with the Securities and Exchange
Commission its Annual Report on Form 10-K disclosing a net loss of
$44.24 million for the year ended Sept. 30, 2021, compared to a net
loss of $30.18 million for the year ended Sept. 30, 2020.
As of Sept. 30, 2021, the Company had $17.17 million in total
assets, $78.88 million in total liabilities, and a total deficiency
of $61.71 million.
Fort Lauderdale, Florida-based Daszkal Bolton LLP, the Company's
auditor since 2020, issued a "going concern" qualification in its
report dated Dec. 29, 2021, citing that the Company has sustained
net losses, has indebtedness in default, and has liabilities in
excess of assets of approximately $42.5 million at Sept. 30, 2021,
which raise substantial doubt about its ability to continue as a
going concern.
A full-text copy of the Form 10-K is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1499961/000110465921154243/muln-20210930x10k.htm
About Mullen
Mullen (fka Net Element Inc.) is a Southern California-based
automotive company that owns and partners with several synergistic
businesses working toward the unified goal of creating clean and
scalable energy solutions. Mullen has evolved over the past decade
in sync with consumers and technology trends. Today, the Company
is working diligently to provide exciting EV options built entirely
in the United States and made to fit perfectly into the American
consumer's life. Mullen strives to make EVs more accessible than
ever by building an end-to-end ecosystem that takes care of all
aspects of EV ownership.
MUSIKAR HOLDINGS: Seeks to Hire Van Horn Law Group as Counsel
-------------------------------------------------------------
Musikar Holdings, LLC seeks approval from the U.S. Bankruptcy Court
for the Middle District of Florida to hire Van Horn Law Group, P.A.
to serve as legal counsel in its Chapter 11 case.
The firm's services include:
(a) Advising the Debtor regarding its powers and duties and
the continued management of its business operations;
(b) Advising the Debtor regarding its responsibilities in
complying with the Office of the U.S. Trustee's operating
guidelines and reporting requirements and with the rules of the
court;
(c) Preparing legal documents;
(d) Protecting the interest of the Debtor in all matters
pending before the court; and
(e) Representing the Debtor in negotiation with its creditors
in the preparation of a Chapter 11 plan.
The firm's hourly rates range from $150 to $450. The normal rate
for Chad Van Horn, Esq., the firm's attorney who will be providing
the services, is $450 per hour but the attorney has agreed to lower
it to $350 per hour.
The Debtor paid the firm a $9,238 retainer fee, which included the
filing fee of $1,738.
As disclosed in court filings, Mr. Van Horn and his firm do not
represent any interest adverse to the Debtor.
Van Horn Law Group can be reached at:
Chad T. Van Horn, Esq.
Van Horn Law Group, P.A.
330 North Andrews Avenue, Suite 450
Fort Lauderdale, FL 33301-1012
Phone: (954) 637-0000
Email: chad@cvhlawgroup.com
About Musikar Holdings
Musikar Holdings, LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 21-02829) on Dec. 7,
2021, listing as much as $50,000 in both assets and liabilities.
Chad T. Van Horn, Esq., at Van Horn Law Group, P.A. is the Debtor's
legal counsel.
NUZEE INC: Incurs $18.6 Million Net Loss in FY Ended Sept. 30
-------------------------------------------------------------
Nuzee, Inc. filed with the Securities and Exchange Commission its
Annual Report on Form 10-K disclosing a net loss of $18.55 million
on $1.93 million of net revenues for the year ended Sept. 30, 2021,
compared to a net loss of $9.52 million on $1.40 million of net
revenues for the year ended Sept. 30, 2020.
As of Sept. 30, 2021, the Company had $13.74 million in total
assets, $1.53 million in total liabilities, and $12.21 million in
total stockholders' equity.
Nuzee stated, "Since our inception in 2011, we have incurred
significant losses, and as of September 30, 2021, we had an
accumulated deficit of approximately $52.8 million. We have not
yet achieved profitability and anticipate that we will continue to
incur significant sales and marketing expenses prior to recording
sufficient revenue from our operations to offset these expenses.
In the United States, we expect to incur additional losses as a
result of the costs associated with operating as an exchange-listed
public company in the future. We are unable to predict the extent
of any future losses or when we will become profitable, if at all.
To date, we have funded our operations primarily with proceeds from
the registered public offerings and private placements of shares of
our common stock. Our principal use of cash is to fund our
operations, which includes the commercialization of our single
serve coffee products, the continuation of efforts to improve our
products, administrative support of our operations and other
working capital requirements.
As of September 30, 2021, we had a cash balance of $10,815,954. We
believe that our cash and cash equivalents will be sufficient to
fund our planned operations and capital expenditure requirements
for at least 12 months from December 22, 2021. This evaluation is
based on relevant conditions and events that are currently known or
reasonably knowable. As a result, we could deplete our available
capital resources sooner than we currently expect, and a reduction
in consumer demand for, or revenues from the sale of, our single
serve coffee products could further constrain our cash resources.
We have based these estimates on assumptions that may prove to be
wrong, and our operating projections, including our projected
revenues from sales of our single serve coffee products, may change
as a result of many factors currently unknown to us."
A full-text copy of the Form 10-K is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001527613/000149315221032231/form10-k.htm
About NuZee
NuZee, Inc. (d/b/a Coffee Blenders) is a specialty coffee company
and a single-serve pour-over coffee producer and co-packer. The
Company owns sophisticated packing equipment developed in Asia for
pour over coffee production and it believes its long-standing
experience with this equipment and associated pour over filters,
and its relationships with their manufacturers provide the Company
with an advantage over its North American competitors.
NUZEE INC: Inks Deal to Sell $20 Million Worth of Common Shares
---------------------------------------------------------------
NuZee, Inc. entered into an equity distribution agreement with
Maxim Group LLC, as agent, pursuant to which the Company may offer
and sell, from time to time through the Agent, shares of the
Company's common stock, par value $0.00001 per share, having an
aggregate offering price of up to $20,000,000, subject to any
applicable limits when using Form S-3.
The offer and sale of the Shares will be made pursuant to a shelf
registration statement on Form S-3 and the related prospectus (File
No. 333-248531) initially filed by the Company with the Securities
and Exchange Commission on Sept. 1, 2020, and declared effective by
the SEC on Oct. 2, 2020, under the Securities Act of 1933, as
amended.
Upon delivery of a transaction notice and subject to the terms and
conditions of the Equity Distribution Agreement, the Agent may sell
the Shares by any method permitted by law deemed to be an
"at-the-market" offering as defined in Rule 415 promulgated under
the Securities Act, including sales made directly on The Nasdaq
Capital Market. The Agent will use commercially reasonable efforts
consistent with its normal trading and sales practices to sell the
Shares from time to time, based upon instructions from the Company,
including any price or size limits or other customary parameters or
conditions the Company may impose. The Company may instruct the
Agent not to sell Shares if the sales cannot be effected at or
above the price designated by the Company from time to time.
The Company will pay the Agent a commission rate, in cash, equal to
3.0% of the aggregate gross proceeds from each sale of Shares and
has agreed to provide the Agent with customary indemnification and
contribution rights. The Company will also reimburse the Agent for
certain specified expenses in connection with entering into the
Equity Distribution Agreement. The Equity Distribution Agreement
contains customary representations and warranties, conditions to
the sale of the Shares pursuant thereto, other obligations of the
parties and termination provisions.
The Company is not obligated to make any sales of the Shares under
the Equity Distribution Agreement. The ATM Offering will terminate
upon the earlier of (i) the sale of all Shares pursuant to the
Equity Distribution Agreement or (ii) termination of the Equity
Distribution Agreement as permitted therein. The Company and the
Agent may each terminate the Equity Distribution Agreement at any
time upon 10 days' prior notice.
About NuZee
NuZee, Inc. (d/b/a Coffee Blenders) is a specialty coffee company
and a single-serve pour-over coffee producer and co-packer. The
Company owns sophisticated packing equipment developed in Asia for
pour over coffee production and it believes its long-standing
experience with this equipment and associated pour over filters,
and its relationships with their manufacturers provide the Company
with an advantage over its North American competitors.
NuZee reported a net loss of $18.55 million for the year ended
Sept. 30, 2021, a net loss of $9.52 million for the year ended
Sept. 30, 2020, and a net loss of $12.21 million for the year ended
Sept. 30, 2019.
NUZEE INC: Inks LOI to Negotiate Purchase Deal With Coffee Company
------------------------------------------------------------------
NuZee, Inc. entered into a non-binding letter of intent on Dec. 28,
2021, affording the Company an exclusivity period lasting until
Jan. 31, 2022, unless earlier terminated, to negotiate a definitive
agreement to acquire substantially all the assets of an
unaffiliated, privately held company in the coffee industry.
The projected purchase price is approximately $1.0 million to
approximately $1.2 million, in the aggregate, which is expected to
consist of (i) 60% of shares of Common Stock and (ii) the other 40%
payable in cash. In addition, the Letter of Intent contemplates
that the Third Party's Founder and CEO would enter into a two-year
employment agreement with the Company at the closing of the
transaction.
Completion of the transaction is subject to, among other matters,
the satisfactory completion of due diligence, the negotiation of
definitive transaction documentation, and satisfaction of customary
closing conditions including approval of the transaction by the
Third Party's stockholders. Accordingly, there can be no assurance
that the Definitive Agreement and the Employment Agreement will be
entered into or that the proposed transaction will be consummated.
About NuZee
NuZee, Inc. (d/b/a Coffee Blenders) is a specialty coffee company
and a single-serve pour-over coffee producer and co-packer. The
Company owns sophisticated packing equipment developed in Asia for
pour over coffee production and it believes its long-standing
experience with this equipment and associated pour over filters,
and its relationships with their manufacturers provide the Company
with an advantage over its North American competitors.
NuZee reported a net loss of $18.55 million for the year ended
Sept. 30, 2021, a net loss of $9.52 million for the year ended
Sept. 30, 2020, and a net loss of $12.21 million for the year ended
Sept. 30, 2019.
ORIGINAL TILE: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Orignal Tile Source, LLC
2303 Chattanooga Rd
Dalton, GA 30720-2966
Business Description: Orignal Tile Source owns and operates a
tile store in Dalton, Georgia.
Chapter 11 Petition Date: December 21, 2021
Court: United States Bankruptcy Court
Northern District of Georgia
Case No.: 21-41554
Debtor's Counsel: Brian R. Cahn, Esq.
BRIAN R. CAHN AND ASSOCIATES, LLC
PO Box 3696
Cartersville, GA 30120-1712
Tel: (770)382-8900
Email: brian@northgabankruptcy.com
Estimated Assets: $50 million to $100 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Lee McKellar, manager.
A full-text copy of the petition is available for free at
PacerMonitor.com at:
https://www.pacermonitor.com/view/GBDCWRY/Orignal_Tile_Source_LLC__ganbke-21-41554__0001.0.pdf?mcid=tGE4TAMA
List of Debtor's 20 Largest Unsecured Creditors:
Entity Nature of Claim Claim Amount
------ --------------- ------------
1. AV Industries, LLC Business Loan $1,228,582
PO Box 1359
Rocky Face, GA
30740-1359
Gandi Vaughn
Tel: (706) 278-2040
2. First Bank of Dalton Overdraft $140,000
PO Box 459
Dalton, GA 30720
3. Georgia Department of Revenue Sales Tax $95,000
Taxpayer Services Division
PO Box 105499
Atlanta, GA
30348-5499
4. First Bank of Dalton Business Credit $89,111
118 N Hamilton St
Dalton, GA
30720-4212
5. Stone Showcase Trade Debt $40,772
1785 Enterprise Dr
Buford, GA
30518-8207
6. Dural Trade Debt $34,217
711 N Varnell Rd
Tunnel Hill, GA
30755-9282
7. Happy Floors Trade Debt $30,703
PO Box 740463
Atlanta, GA
30374-0463
8. Nichols, Cauley & Trade Debt $24,065
Associates, LLC
206 W Crawford St
Dalton, GA
30720-4203
9. MSI Surfaces Trade Debt $17,513
7950 Troon Clr SW
Austell, GA
30168-7758
10. Georgian Stone Corp Trade Debt $16,011
3045 Business Park
Dr # A
Norcross, GA
30071-1427
11. Bearden Industrial Supply Trade Debt $9,047
PO Box 3188
Dalton, GA
30719-0188
12. Intercreamic, Inc. Trade Debt $9,046
PO Box 4869
Houston, TX
77210-4869
13. Louisville Tile Trade Debt $8,153
Distibuotrs, Inc.
PO Box 37307
Louisville, KY
40233-7307
14. Unifirst Corporation Trade Debt $5,889
PO Box 70
Rossville, GA
30741-0070
15. Levantina USA, Inc. Trade Debt $4,933
2499 Newpoint
Pkwy Ste 300
Lawrenceville, GA
30043-1713
16. International Trade Debt $4,401
Wholesale Tile
PO Box 877
Palm City, FL
34991-0877
17. Wholesale Supply Group Trade Debt $3,890
PO Box 4080
Cleveland, TN
37320-4080
18. James Hardy Trade Debt $3,868
Building Products
231 S La Salle St
Ste 2000
Chicago, IL
60604-1449
19. Taylor Tile Service Trade Debt $3,422
1108 S Thornton Ave
Dalton, GA
30720-7873
20. Lovingood Law Firm Trade Debt $3,009
PO Box 1067
Dalton, GA
30722-1067
PH 1 LLC: Case Summary & Unsecured Creditor
-------------------------------------------
Debtor: PH 1 LLC
9499 Collins Ave
PH-01
Miami Beach, FL 33154
Business Description: PH 1 LLC is a Single Asset Real Estate
debtor (as defined in 11 U.S.C. Section
101(51B)).
Chapter 11 Petition Date: December 31, 2021
Court: United States Bankruptcy Court
Southern District of Florida
Case No.: 21-22184
Judge: Hon. Laurel M. Isicoff
Debtor's Counsel: Diego G. Mendez, Esq.
MENDEZ LAW OFFICES
P.O. Box 228630
Miami, FL 33222
Tel: 305-264-9090
Email: info@mendezlawoffices.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Pedro F. Pinto, president.
The Debtor listed Khyber Pass Holding Inc. as its sole unsecured
creditor holding a claim of $1.20 million.
A full-text copy of the petition is available for free at
PacerMonitor.com at:
https://www.pacermonitor.com/view/6KJ5O5Q/PH_1_LLC__flsbke-21-22184__0001.0.pdf?mcid=tGE4TAMA
PHILIPPINE AIRLINES: Completes Chapter 11 Restructuring
-------------------------------------------------------
Philippine Airlines Inc. (PAL) on Dec. 31 disclosed that it has
emerged from its voluntary Chapter 11 proceedings as a more
efficient airline with a strengthened balance sheet, reaffirming
its continuing role as the Philippines' sole full-service airline
with the largest international network.
PAL successfully completed its financial restructuring within four
months, in contrast to other airlines that remain in the Chapter 11
process more than a year after filing in 2020. The Philippine flag
carrier credits the strong support of its creditors and
shareholders, the cooperation of its industry partners and the
collective efforts of PAL employees around the world who sustained
flights on multiple international and domestic routes throughout
the restructuring period.
PAL has streamlined operations with a reorganized fleet and is now
better capitalized for future growth. The Company's Plan of
Reorganization, which was approved by the U.S. restructuring Court
on December 17, 2021, provides for over US$2.0 billion in permanent
balance sheet reductions from existing creditors, improvements in
PAL's critical operational agreements and additional liquidity
including a US$505 million investment in long-term equity and debt
financing from PAL's majority shareholder.
The airline's consensual restructuring plan was accepted by 100% of
the votes cast by its primary aircraft lessors and lenders,
original equipment manufacturers and maintenance, repair, and
overhaul service providers, and certain funded debt lenders.
"Philippine Airlines stands ready to help grow back the
Philippines' local and international air travel markets in ways
that renew the tourism industry, serve the needs of global citizens
including overseas Filipinos, and contribute actively to the
recovery of the Philippine economy," said PAL Director Lucio C. Tan
III, quoting PAL Chairman and CEO Dr. Lucio C. Tan. "Our mission as
the flag carrier matters more than ever, and we are thankful for
the chance to rebound from the pandemic and continue to fulfill
this mission as best as we can."
"This is a celebratory moment for PAL, for all our partners and
stakeholders, and for our personnel who sacrificed much while
working successfully to keep the airline flying," said Gilbert F.
Santa Maria, PAL President and Chief Operating Officer. "Above all,
we thank our customers for their support, and the Filipino people
for keeping faith in their flag carrier through the entire
restructuring process. There are immense challenges ahead, but we
look forward to tackling them as a reinvigorated Philippine
Airlines, better positioned for strategic growth to continue
serving our customers."
Moving forward, PAL will reinvest in its operations to better serve
its valued customers by:
* Reinforcing PAL's position as the Philippines' sole full-service
airline with the largest international network serving four
continents, including:
* The only nonstop flights linking the Philippines to the U.S.,
Canadian East and West Coasts, Hawaii, Brisbane, and Melbourne;
* The largest network of flights from the Philippines to
multiple cities in Japan, Australia and the Middle East, along with
convenient schedules to Hong Kong, Korea, Taipei, Singapore,
Thailand, Indonesia, Vietnam and Malaysia;
* A high-frequency domestic network encompassing trunk routes to
the major cities of Visayas, Mindanao and Luzon, as well as
inter-island services to the nation's tourist hot spots and
paradise islands;
* The only full-service options in Philippine domestic skies,
including Business Class on many local routes.
* Restoring more routes and increasing flight frequencies as travel
restrictions ease and borders reopen, including the resumption of
regular flights to multiple cities in mainland China, full
regularization of flights to Australia and the commencement of
historic new services to Israel.
* Building on code sharing and interline partnerships to complement
the airline's current and future network and allow PAL passengers
to enjoy better connections and access to more destinations through
partner airlines.
* Expanding PAL's newly established cargo business to tap more air
cargo market opportunities, including the operation of all-cargo
flights to keep supply chains moving and to meet specific freight
transport needs such as the airlift of vaccines and medical
equipment.
Offering year-round great value fares and competitive promotional
offers.
* Developing innovations to PAL's Mabuhay Miles frequent flyer
program, including an expansion of membership rolls and
enhancements to program terms and benefits.
* Accelerating digital transformation initiatives to deliver
seamless and intuitive experiences to PAL customers, including a
more personalized website and mobile app, a streamlined booking
process that offers more flexible payment options such as e-wallets
and installment plans, enhanced self-service options for rebooking
and check-in, and improved chat facilities and inter-active voice
response (IVR) functions through PAL's contact center.
* Rolling out new product advancements within 2022, as part of a
commitment to continuously upgrade services and the overall
customer travel experience.
* Upholding, as always, the strictest professional safety standards
and health protocols in all of PAL's operations.
Under the newly effective recovery plan, PAL has the option to
obtain up to US$150 million in additional financing from new
investors.
PAL reiterated its commitment to fulfill all refund obligations.
The Company has cleared over 99% of past refunds and is now back to
normal processing times for refunds, except for some 2020 cases
that require validation procedures mostly involving third party
providers.
Philippine Airlines Inc. was the only party included in the Chapter
11 filing; while PAL Holdings Inc., which is listed on the
Philippine Stock Exchange (PSE: PHI), and Air Philippines
Corporation, known as PAL Express, were not included in the Chapter
11 filing.
Additional Information
Debevoise & Plimpton LLP, Norton Rose Fulbright US LLP and Angara
Abello Concepcion Regala & Cruz (ACCRA) acted as legal advisors and
Seabury Securities LLC as financial advisor and investment banker
to the Company.
About Philippine Airlines Inc.
Philippine Airlines, Inc., is the flag carrier of the Philippines
and the country's only full-service network airline. PAL was the
first commercial airline in Asia and marked its 80th anniversary in
March 2021. PAL's young fleet of Boeing 777s, Airbus A350s, Airbus
A330s, Airbus A321s and De Havilland DHC Q400 aircraft operate out
of hubs in Manila, Cebu and Davao to 29 destinations in the
Philippines and 32 destinations in Asia, North America, Australia,
Europe and the Middle East. PAL was rated a 4-Star Global Airline
by Skytrax in 2018 and a 5-Star Major Airline by the Association of
Airline Passengers (APEX) in 2020, and was likewise voted the
World's Most Improved Airline in the 2019 Skytrax worldwide
passenger survey with a ranking of 30th best airline in the world.
On Sept. 3, 2021, Philippine Airlines, Inc. (PAL) filed a voluntary
petition for relief under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. S.D.N.Y. Case No. 21-11569) to seek approval of a
restructuring plan negotiated with lenders and lessors.
As of July 31, 2021, the Debtor's overall assets and liabilities
were approximately $4.1 billion and $6.07 billion, respectively.
The Honorable Shelley C. Chapman is the case judge.
The Debtor tapped Debevoise & Plimpton LLP as general bankruptcy
counsel; Norton Rose Fulbright as special counsel; and Seabury
Securities LLC and Seabury International Corporate Finance LLC as
restructuring advisor and investment banker. Angara Abello
Concepcion Regala & Cruz (ACCRA) is acting as legal advisor in the
Philippines. Kurtzman Carson Consultants, LLC, is the claims and
noticing agent.
Buona Sorte Holdings, Inc. and PAL Holdings Inc., as DIP lenders,
are represented by White & Case LLP.
POLYMER GRINDING: Seeks to Hire Julian Law Firm as Special Counsel
------------------------------------------------------------------
Polymer Grinding, Inc. seeks approval from the U.S. Bankruptcy
Court for the Western District of Pennsylvania to hire Julian Law
Firm to serve as special counsel.
The Debtor requires a special counsel to assist in the negotiation
and sale of its assets, and oversee the finalization of the sale.
John Egers, Esq., the firm's attorney who will be providing the
services, will be paid at an hourly rate of $150.
Mr. Egers disclosed in a court filing that he is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached at:
John Egers, Esq.
Julian Law Firm
71 N. Main St
Washington, PA 15301
Tel: 724-228-1860
Email: julianlaw@aol.com
About Polymer Grinding
Polymer Grinding, Inc. filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Pa. Case No.
21-22585) on Dec. 3, 2021, listing as much as $1 million in both
assets and liabilities.
Donald R. Calaiaro, Esq., at Calaiaro Valencik and Julian Law Firm
serve as the Debtor's bankruptcy counsel and special counsel,
respectively.
QHC CRESTVIEW: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: QHC Crestview Acres Inc.
d/b/a QHC Sunnycrest, LLC
d/b/a Crestview Acres
1485 Grand Ave
Marion, IA 52302
Business Description: QHC Crestview Acres Inc. owns and operates
continuing care retirement communities and
assisted living facilities for the elderly.
Chapter 11 Petition Date: December 29, 2021
Court: United States Bankruptcy Court
Southern District of Iowa
Case No.: 21-01650
Judge: Hon. Anita L. Shodeen
Debtor's Counsel: Jeffrey D. Goetz, Esq.
BRADSHAW, FOWLER, PROCTOR & FAIRGRAVE PC
801 Grand Avenue, Suite 3700
Des Moines, IA 50309-8004
Tel: 515-246-5817
Fax: 515-246-5808
E-mail: goetz.jeffrey@bradshawlaw.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Nancy A. Voyna as managing member.
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/236L5HQ/QHC_Crestview_Acres_Inc__iasbke-21-01650__0001.0.pdf?mcid=tGE4TAMA
QHC FACILITIES: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: QHC Facilities, LLC
8350 Hickman Rd. Suite 15
Clive, IA 50325
Business Description: The Debtor operates nursing care facilities
(skilled nursing facilities).
Chapter 11 Petition Date: December 29, 2021
Court: United States Bankruptcy Court
Southern District of Iowa
Case No.: 21-01643
Judge: Anita L. Shodeen
Debtor's Counsel: Jeffrey D. Goetz, Esq.
BRADSHAW, FOWLER, PROCTOR & FAIRGRAVE PC
801 Grand Avenue, Suite 3700
Des Moines, IA 50309-8004
Tel: 515-246-5817
Fax: 515-246-5808
E-mail: goetz.jeffrey@bradshawlaw.com
Total Assets: $1,009,701
Total Liabilities: $26,370,967
The petition was signed by Nancy A. Voyna as managing member.
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/XVZ7XJI/QHC_Facilities_LLC__iasbke-21-01643__0001.0.pdf?mcid=tGE4TAMA
QHC FACILITIES: Seeks Approval to Hire Gibbins as Financial Advisor
-------------------------------------------------------------------
QHC Facilities, LLC seeks approval from the U.S. Bankruptcy Court
for the Southern District of Iowa to hire Gibbins Advisors, LLC as
financial advisor.
The firm's services include:
(a) assisting in the identification (and implementation) of
cost reduction and operations improvement opportunities, in
collaboration with the Debtor's managing member;
(b) assisting the Debtor in managing its Chapter 11 case,
including, without limitation, providing support with respect to
the sale of the Debtor's assets and managing the preparation and
development of a disclosure statement and plan of reorganization;
(c) coordinating with the "working group" professionals who
are assisting the Debtor in the reorganization process or who are
working for the Debtor's various stakeholders seeking alignment
with the Debtor's overall restructuring goals;
(d) liaising with the Debtor's key constituents and creditors
with respect to financial and operational matters;
(e) providing assistance in such areas as testimony before the
court on matters that are within the scope of the engagement and
within its area of testimonial competency;
(f) assisting the Debtor and other engaged professionals in
bankruptcy planning and preparation including liquidity forecasting
and planning, negotiating debtor-in-possession financing and the
use of cash collateral, "first-day" matters, and court-required
reporting and disclosures;
(g) assisting in the discussions with and providing
information to potential investors, secured lenders, official
committees, and the Office of the United States Trustee;
(h) assisting in the overall financial reporting assisting
with the administrative requirements of the Bankruptcy Code,
including post-petition reporting requirements and claim
reconciliation efforts;
(i) providing assistance with the case administration and
reporting requirements associated with a Chapter 11 filing,
including, but not limited to, preparing schedules of assets and
statements of financial affairs, monthly operating reports,
budgets, documents related to DIP financing and cash collateral,
claims reconciliation, and assumption and rejection analyses;
(j) assisting the Debtor and its other advisors in developing
restructuring plans or strategic alternatives for maximizing the
enterprise value of the Debtor's various business lines; and
(k) performing other services in connection with the Debtor's
restructuring process.
The firm's hourly rates are as follows:
Managing Director/Director/Principal/Senior Advisor $595-725
per hour
Director/Senior Director $450-550
per hour
Associate/Senior Associate $325-395
per hour
The Debtor paid the firm a retainer fee of $115,000.
Ronald Winters, principal at Gibbins Advisors, disclosed in a court
filing that he is a "disinterested person" as the term is defined
in Section 101(14) of the Bankruptcy Code.
The firm can be reached at:
Ronald Winters
Gibbins Advisors, LLC
1900 Church Street, Suite 300
Nashville, TN 37203
Tel: (914) 391 6269
Email: rwinters@gibbinsadvisors.com
About QHC Facilities
QHC Facilities, LLC filed a petition for Chapter 11 protection
(Bankr. S.D. Iowa Case No. 21-01643) on Dec. 29, 2021, listing up
to $10 million in assets and up to $50 million in liabilities.
Nancy A. Voyna, managing member, signed the petition.
Judge Anita L. Shodeen oversees the case.
Jeffrey D. Goetz, Esq., at Bradshaw Fowler Proctor & Fairgrave, PC
and Gibbins Advisors, LLC serve as the Debtor's legal counsel and
financial advisor, respectively.
QHC HUMBOLDT NORTH: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: QHC Humboldt North, LLC
d/b/a Humboldt Care Center North
1111 11th Ave North
Humboldt, IA 50548
Business Description: The Debtor owns and operates continuing care
retirement communities and assisted living
facilities for the elderly.
Chapter 11 Petition Date: December 29, 2021
Court: United States Bankruptcy Court
Southern District of Iowa
Case No.: 21-01651
Judge: Hon. Anita L. Shodeen
Debtor's Counsel: Jeffrey D. Goetz, Esq.
BRADSHAW, FOWLER, PROCTOR & FAIRGRAVE PC
801 Grand Avenue, Suite 3700
Des Moines, IA 50309-8004
Tel: 515-246-5817
Fax: 515-246-5808
E-mail: goetz.jeffrey@bradshawlaw.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $10 million to $50 million
The petition was signed by Nancy A. Voyna as managing member.
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/XOHMOLQ/QHC_Humboldt_North_LLC__iasbke-21-01651__0001.0.pdf?mcid=tGE4TAMA
QHC HUMBOLDT: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: QHC Humboldt South, LLC
d/b/a Humboldt Care Center South
800 13th St. South
Humboldt, IA 50548
Business Description: The Debtor operates continuing care
retirement communities and assisted living
facilities for the elderly.
Chapter 11 Petition Date: December 29, 2021
Court: United States Bankruptcy Court
Southern District of Iowa
Case No.: 21-01652
Judge: Hon. Anita L. Shodeen
Debtor's Counsel: Jeffrey D. Goetz, Esq.
BRADSHAW, FOWLER, PROCTOR & FAIRGRAVE PC
801 Grand Avenue, Suite 3700
Des Moines, IA 50309-8004
Tel: 515-246-5817
Fax: 515-246-5808
E-mail: goetz.jeffrey@bradshawlaw.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $10 million to $50 million
The petition was signed by Nancy A. Voyna as managing member.
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/2QMX3HY/QHC_Humboldt_South_LLC__iasbke-21-01652__0001.0.pdf?mcid=tGE4TAMA
QHC MANAGEMENT: Case Summary & 11 Unsecured Creditors
-----------------------------------------------------
Debtor: QHC Management, LLC
8350 Hickman Rd. Suite 15
Clive, IA 50325
Business Description: QHC Management has two assisted living
facilities, both located near its Iowa
nursing homes within their respective
communities.
Chapter 11 Petition Date: December 29, 2021
Court: United States Bankruptcy Court
Southern District of Iowa
Case No.: 21-01644
Judge: Hon. Anita L. Shodeen
Debtor's Counsel: Jeffrey D. Goetz, Esq.
BRADSHAW, FOWLER, PROCTOR & FAIRGRAVE PC
801 Grand Avenue, Suite 3700
Des Moines, IA 50309-8004
Tel: 515-246-5817
Fax: 515-246-5808
E-mail: goetz.jeffrey@bradshawlaw.com
Estimated Assets: $0 to $50,000
Estimated Liabilities: $1 million to $10 million
The petition was signed by Nancy A. Voyna as managing member.
A full-text copy of the petition containing, among other items, a
list of the Debtor's 11 unsecured creditors is available for free
at PacerMonitor.com at:
https://www.pacermonitor.com/view/ULBSAKI/QHC_Management_LLC__iasbke-21-01644__0001.0.pdf?mcid=tGE4TAMA
QHC MITCHELLVILLE: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: QHC Mitchellville, LLC
d/b/a Mitchell Village Care Center
114 Carter St. SW
Mitchellville, IA 50169
Business Description: QHC Mitchellville, LLC owns and operates
continuing care retirement communities and
assisted living facilities for the elderly.
Chapter 11 Petition Date: December 29, 2021
Court: United States Bankruptcy Court
Southern District of Iowa
Case No.: 21-01645
Judge: Hon. Anita L. Shodeen
Debtor's Counsel: Jeffrey D. Goetz, Esq.
BRADSHAW, FOWLER, PROCTOR & FAIRGRAVE PC
801 Grand Avenue, Suite 3700
Des Moines, IA 50309-8004
Tel: 515-246-5817
Fax: 515-246-5808
Email: goetz.jeffrey@bradshawlaw.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $10 million to $50 million
The petition was signed by Nancy A. Voyna as managing member.
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/6EMGE2Q/QHC_Mitchellville_LLC__iasbke-21-01645__0001.0.pdf?mcid=tGE4TAMA
QHC VILLA COTTAGES: Case Summary & 20 Largest Unsecured Creditors
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Debtor: QHC Villa Cottages, LLC
925 Martin Luther King Drive
Fort Dodge, IA 50501
Business Description: The Debtor owns and operates an assisted
living facility in Fort Dodge, Iowa.
Chapter 11 Petition Date: December 29, 2021
Court: United States Bankruptcy Court
Southern District of Iowa
Case No.: 21-01653
Judge: Hon. Anita L. Shodeen
Debtor's Counsel: Jeffrey D. Goetz, Esq.
BRADSHAW, FOWLER, PROCTOR & FAIRGRAVE PC
801 Grand Avenue, Suite 3700
Des Moines, IA 50309-8004
Tel: 515-246-5817
Fax: 515-246-5808
E-mail: goetz.jeffrey@bradshawlaw.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $10 million to $50 million
The petition was signed by Nancy A. Voyna as managing member.
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/26RVAFI/QHC_Villa_Cottages_LLC__iasbke-21-01653__0001.0.pdf?mcid=tGE4TAMA
QHC WINTERSET NORTH: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: QHC Winterset North, LLC
d/b/a Winterset Care Center North
411 East Lane St.
Winterset, IA 50273
Business Description: The Debtor operates continuing care
retirement communities and assisted living
facilities for the elderly.
Chapter 11 Petition Date: December 29, 2021
Court: United States Bankruptcy Court
Southern District of Iowa
Case No.: 21-01646
Judge: Hon. Anita L. Shodeen
Debtor's Counsel: Jeffrey D. Goetz, Esq.
BRADSHAW, FOWLER, PROCTOR & FAIRGRAVE PC
801 Grand Avenue, Suite 3700
Des Moines, IA 50309-8004
Tel: 515-246-5817
Fax: 515-246-5808
E-mail: goetz.jeffrey@bradshawlaw.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $10 million to $50 million
The petition was signed by Nancy A. Voyna as managing member.
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/XAIJ5KI/QHC_Winterset_North_LLC__iasbke-21-01646__0001.0.pdf?mcid=tGE4TAMA
S K TRANSPORT: Taps Joseph Caldwell as Bankruptcy Attorney
----------------------------------------------------------
S K Transport, Inc. seeks approval from the U.S. Bankruptcy Court
for the Southern District of West Virginia to hire Joseph Caldwell,
Esq., an attorney practicing in Charleston, W.Va., to handle its
Chapter 11 case.
Mr. Caldwell's services include:
(a) providing the Debtor with legal advice regarding its
powers and duties under the Bankruptcy Code;
(b) filing adversary proceedings to challenge certain
financial contracts entered into by the Debtor prior to its
bankruptcy filing at alleged unfair terms;
(c) assisting the Debtor in negotiating adequate protection
payments;
(d) providing and preparing disclosure statement and Chapter
11 plan; and
(e) performing other necessary legal services for the Debtor.
Mr. Caldwell will be paid at an hourly rate of $350.
The Debtor paid the attorney $12,000 as a retainer fee.
Mr. Caldwell disclosed in a court filing that he is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
Mr. Caldwell can be reached at:
Joseph W. Caldwell, Esq.
P.O. Box 4427
Charleston, WV 25364
Phone: (304) 925-2100
Email: jcaldwell@caldwellandriffee.com
About S K Transport Inc.
S K Transport Inc., a company based in Nitro, W.Va., filed a
petition for Chapter 11 protection (Bankr. S.D. W. Va. Case No.
21-30262) on Nov. 3, 2021, listing as much as $10 million in both
assets and liabilities. Matthew McClure, president of S K
Transport, signed the petition.
Judge Mckay B. Mignault oversees the case.
The Debtor tapped Joseph W. Caldwell, Esq., at Caldwell & Riffee as
its legal counsel. Michelle Steele Accounting Solutions, Inc. and
Mike McClure serve as the Debtor's accountant and manager,
respectively.
SAFE SITE: Case Summary & 14 Unsecured Creditors
------------------------------------------------
Debtor: Safe Site Youth Development, Inc.
d/b/a Safe Site Child Development a New Mexico
Corporation
1800 Main Street NE
Los Lunas, NM 87031
Chapter 11 Petition Date: December 30, 2021
Court: United States Bankruptcy Court
District of New Mexico
Case No.: 21-11399
Judge: Hon. Robert H. Jacobvitz
Debtor's Counsel: Dennis A. Banning, Esq.
NM FINANCIAL LAW, P.C.
320 Gold Avenue SW, Suite 1401
Albuquerque, NM 87102-3299
Tel: 505-503-1637
Email: dab@nmfinanciallaw.com
Debtor's
Accountant: RON BHATT, CPA, LLC
Total Assets: $1,277,033
Total Liabilities: $1,741,417
The petition was signed by Felix & Sarah Candelaria, site
directors.
A full-text copy of the petition containing, among other items, a
list of the Debtor's 14 unsecured creditors is available for free
at PacerMonitor.com at:
https://www.pacermonitor.com/view/C43Y6CA/Safe_Site_Youth_Development_Inc__nmbke-21-11399__0001.0.pdf?mcid=tGE4TAMA
SPECTRUM GLOBAL: Amends Conversion Price of Series D Pref. Stock
----------------------------------------------------------------
Spectrum Global Solutions, Inc. filed an amendment to its
Certificate of Designation of Series D Preferred Stock with the
Secretary of State of the State of Nevada, effective Dec. 16, 2021.
Amendment No. 1 amended the conversion price of the Series D
Preferred Stock and provided that on the business day immediately
preceding the listing of the Company's common stock on a national
securities exchange, without any further action, all shares of
Series D Preferred will automatically convert into shares of Common
Stock at the Fixed Price, which will be defined as the closing
price of the Common Stock on the trading day immediately preceding
the date of issuance of the Series D Preferred (subject to
adjustment for any reverse or forward split of the Common Stock).
About Spectrum Global Solutions
Boca Raton, Florida-based Spectrum Global Solutions Inc. --
https://SpectrumGlobalSolutions.com -- operates through its
subsidiaries ADEX Corp., Tropical Communications Inc. and AW
Solutions Puerto Rico LLC. The Company is a provider of
telecommunications engineering and infrastructure services across
the United States, Canada, Puerto Rico and Caribbean.
Spectrum Global reported a net loss attributable to the company of
$17.71 million for the year ended Dec. 31, 2020, compared to a net
loss attributable to the company of $5.83 million for the year
ended Dec. 31, 2019. As of March 31, 2021, the Company had $6.38
million in total assets, $22.17 million in total liabilities, $1.02
million in total mezzanine equity, and a total stockholders'
deficit of $16.81 million.
Draper, Utah-based Sadler, Gibb & Associates, LLC, the Company's
auditor since 2014, issued a "going concern" qualification in its
report dated April 1, 2021, citing that the Company has incurred
losses since inception, has negative cash flows from operations,
and has negative working capital, which creates substantial doubt
about its ability to continue as a going concern.
TELINTEL LTD: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Telintel, Ltd.
1655 N. Commerce Parkway, Ste 301
Weston, FL 33326
Business Description: Telintel provides telecommunication
services.
Chapter 11 Petition Date: December 30, 2021
Court: United States Bankruptcy Court
Southern District of Florida
Case No.: 21-22154
Judge: Hon. Peter D. Russin
Debtor's Counsel: Thomas L. Abrams, Esq.
GAMBERG & ABRAMS
633 S. Andrews Av.
Suite 500
Fort Lauderdale, FL 33301
Tel: (954) 523-0900
Email: tabrams@tabramslaw.com
Total Assets: $751,038
Total Liabilities: $4,996,862
The petition was signed by Mario Acosta, 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/P5B4T6Q/TELINTEL_LTD__flsbke-21-22154__0001.0.pdf?mcid=tGE4TAMA
V.N.D. LIMITED: Case Summary & 9 Unsecured Creditors
----------------------------------------------------
Debtor: V.N.D. Limited Liability Company
410 10th Street SE
Jamestown, ND 58401
Business Description: V.N.D. primarily engaged in acting as
lessors of real estate.
Chapter 11 Petition Date: December 21, 2021
Court: United States Bankruptcy Court
District of North Dakota
Case No.: 21-30511
Judge: Hon. Shon Hastings
Debtor's Counsel: Michael Gust, Esq.
ANDERSON, BOTTRELL, SANDEN & THOMPSON
4132 30th Avenue South Suite 100
Fargo, ND 58104
Tel: 701-235-3300
E-mail: mgust@andersonbottrell.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Dorothy Flisk, president.
A full-text copy of the petition containing, among other items, a
list of the Debtor's nine unsecured creditors is available for free
at PacerMonitor.com at:
https://www.pacermonitor.com/view/J2KXO5I/VND_Limited_Liability_Company__ndbke-21-30511__0001.0.pdf?mcid=tGE4TAMA
[^] BOND PRICING: For the Week from Dec. 27 to 31, 2022
-------------------------------------------------------
Company Ticker Coupon Bid Price Maturity
------- ------ ------ --------- --------
BPZ Resources Inc BPZR 6.500 3.017 3/1/2049
Basic Energy Services Inc BASX 10.750 6.791 10/15/2023
Basic Energy Services Inc BASX 10.750 6.791 10/15/2023
Buffalo Thunder
Development Authority BUFLO 11.000 50.000 12/9/2022
Columbia Property Trust
Operating Partnership LP CXP 4.150 106.568 4/1/2025
Diamond Sports Group LLC /
Diamond Sports Finance Co DSPORT 6.625 27.766 8/15/2027
Diamond Sports Group LLC /
Diamond Sports Finance Co DSPORT 6.625 27.242 8/15/2027
Endo Finance LLC ENDP 5.750 92.277 1/15/2022
Endo Finance LLC ENDP 5.750 92.277 1/15/2022
Endo Finance LLC /
Endo Finco Inc ENDP 7.250 97.405 1/15/2022
Endo Finance LLC /
Endo Finco Inc ENDP 7.250 97.405 1/15/2022
Energy Conversion Devices ENER 3.000 7.875 6/15/2013
Energy Future Competitive
Holdings Co LLC TXU 1.009 0.072 1/30/2037
Fifth Third Bank NA FITB 0.772 99.689 2/1/2022
GNC Holdings Inc GNC 1.500 0.488 8/15/2020
GTT Communications Inc GTTN 7.875 12.500 12/31/2024
GTT Communications Inc GTTN 7.875 12.750 12/31/2024
Goodman Networks Inc GOODNT 8.000 43.000 5/11/2022
Hill-Rom Holdings Inc HRC 4.375 104.288 9/15/2027
MAI Holdings Inc MAIHLD 9.500 19.125 6/1/2023
MAI Holdings Inc MAIHLD 9.500 19.125 6/1/2023
MAI Holdings Inc MAIHLD 9.500 19.125 6/1/2023
MBIA Insurance Corp MBI 11.384 10.250 1/15/2033
MBIA Insurance Corp MBI 11.384 8.962 1/15/2033
Nine Energy Service Inc NINE 8.750 48.056 11/1/2023
Nine Energy Service Inc NINE 8.750 46.928 11/1/2023
Nine Energy Service Inc NINE 8.750 47.109 11/1/2023
OMX Timber Finance
Investments II LLC OMX 5.540 0.836 1/29/2020
Renco Metals Inc RENCO 11.500 24.875 7/1/2003
Revlon Consumer Products REV 6.250 43.352 8/1/2024
Rolta LLC RLTAIN 10.750 1.205 5/16/2018
Ruby Pipeline LLC RPLLLC 8.000 85.500 4/1/2022
Ruby Pipeline LLC RPLLLC 8.000 90.428 4/1/2022
Sears Holdings Corp SHLD 6.625 0.553 10/15/2018
Sears Holdings Corp SHLD 6.625 0.698 10/15/2018
Sears Roebuck Acceptance SHLD 7.500 1.161 10/15/2027
Sears Roebuck Acceptance SHLD 7.000 0.986 6/1/2032
Sears Roebuck Acceptance SHLD 6.750 1.184 1/15/2028
Sears Roebuck Acceptance SHLD 6.500 1.127 12/1/2028
Sempra Texas Holdings Corp TXU 5.550 13.500 11/15/2014
Talen Energy Supply LLC TLN 6.500 39.382 6/1/2025
Talen Energy Supply LLC TLN 6.500 57.500 9/15/2024
Talen Energy Supply LLC TLN 9.500 81.645 7/15/2022
Talen Energy Supply LLC TLN 6.500 40.959 9/15/2024
Talen Energy Supply LLC TLN 9.500 81.645 7/15/2022
TerraVia Holdings Inc TVIA 5.000 4.644 10/1/2019
Trousdale Issuer LLC TRSDLE 6.500 33.150 4/1/2025
*********
Monday's edition of the TCR delivers a list of indicative prices
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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
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*********
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
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