/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/250122.mbx T R O U B L E D C O M P A N Y R E P O R T E R Wednesday, January 22, 2025, Vol. 29, No. 21 Headlines 11AM INDUSTRIES: Hires Roderick Linton Belfance as Legal Counsel 19 W 55: Seeks Chapter 11 Bankruptcy Protection in New York 3614 36TH AVE: Taps Julio E. Portilla P.C. as Bankruptcy Counsel 58 OCEAN AVENUE: Taps Wenarsky and Goldstein as Bankruptcy Counsel 7 DAYS NEW ROOF: Updates Restructuring Plan Disclosures 810 WILTON: Amends Unsecureds & Secured Claims Pay Details AB INTERNATIONAL: Reports $50,036 Net Loss in Q1 FY25 ADELAIDA CELLARS: Taps Nicholas Rubin of Force Ten Partners as CRO ADELAIDA CELLARS: Taps Raines Feldman Littrell as Legal Counsel AFRIN TRANSPORT: Hires Alvarado Consulting Inc. as Appraiser AFRITEX VENTURES: Examiner Taps Rochelle McCullough as Counsel AIMBRIDGE HOSPITALITY: Lenders Deal Stops Prolonged Ch. 11 Process ALCOVY TRUCKING: Seeks to Hire Seth Twum & Company as Accountant ALLIED CORP: Reports $780,290 Net Loss in Q1 FY2025 AMERICAN OPEN: Hires Goe Forsythe & Hodges LLP as Counsel AMERINVEST LLC: Court OKs Deal to Use APSEC's Cash Collateral ANALABS INC: U.S. Trustee Unable to Appoint Committee ARTIFICIAL INTELLIGENCE: Newest Tech, SARA, Finds First Client ARTIFICIAL INTELLIGENCE: Posts $3.7MM Net Loss in Third Quarter ASHER HOMES: Case Summary & 20 Largest Unsecured Creditors ASHER HOMES: Seeks Chapter 11 Bankruptcy Protection in Oklahoma ASHFORD HOSPITALITY: Completes Sale of Courtyard Boston for $121.5M ASPEN JERSEY: Moody's Affirms 'B3' CFR & Alters Outlook to Negative ASSETTA ENTERPRISES: Updates Brookline Bank Secured Claims Pay ATI PHYSICAL: Finance VP Scott Rundell Appointed as Interim CFO ATLAS LITHIUM: Waratah Capital Holds 3.73% Equity Stake AUTO GLASS: Starts Subchapter V Bankruptcy Process in Arizona B. RILEY: Reports $433.8 Million Net Loss in Q2 FY24 BALANCE HOLDING: Hires Washington Global as Bankruptcy Counsel BELLTOWN FARMS: Committee Taps Koley Jessen as Bankruptcy Counsel BIOMERICA INC: Posts $950,000 Net Loss for Quarter Ended Nov. 30 BIORA THERAPEUTICS: U.S. Trustee Appoints Creditors' Committee BLUM HOLDINGS: Enters Term Sheet for Acquisition of Mesh Ventures BOOKS INC: Case Summary & 20 Largest Unsecured Creditors BRC CAPITAL: Files Chapter 11 Bankruptcy in Illinois CANOO INC: Shares Drop 75% After Chapter 7 Bankruptcy Filing CAPSTONE COMPANIES: Appoints Warner Session as Independent Director CAPSTONE COMPANIES: Appoints Warner Session as Independent Director CASA GARCIA: Starts Subchapter V Bankruptcy in West Virginia CCC INTELLIGENT: Files Registration Statement CENTURY MINING: Updates Unsecured Claims Pay; Files Amended Plan CHESTER COUNTY IDA: Moody's Alters Outlook on 'Ba2' Rating to Pos. CLIPPER ACQUISITIONS: Moody's Gives Ba1 CFR & Alters Outlook to Neg CLOUTER CREEK: Hires Penn Law Firm LLC as Bankruptcy Counsel COMMERCIAL FURNITURE: Taps Elevated HR Consulting as Consultant CONNEXA SPORTS: Enters $11.3MM Stock Sale Agreement With A.G.P. CORE NATURAL: Moody's Affirms 'B1' CFR & Alters Outlook to Positive CORETEC GROUP: Secures $4.6-Mil. in Series D Preferred Stock Sale CORK CAPITAL: Case Summary & 20 Largest Unsecured Creditors CRACKED EGGERY: Seeks to Hire Honos Law PLLC as Special Counsel CREPERIE D AMOUR: Hires Bach Law Offices as Bankruptcy Counsel CRUCIBLE INDUSTRIES: Seeks to Hire David Van Rossum as CRO CRUCIBLE INDUSTRIES: Taps Stretto Inc as Claims and Noticing Agent CUCINA ANTICA: Hires Crescendo Strategic as Financial Advisor CYTTA CORP: Posts $4.3MM Net Loss for FY Ended September 2024 DREAM INC: Seeks to Tap Harry P. Long as Bankruptcy Counsel ECHOSTAR CORP: Darsana Capital Holds 5.3% Equity Stake ECS FARMS: Seeks Chapter 11 Bankruptcy Protection in Colorado EDUCATIONAL DEVELOPMENT: Craig White Appointed as New Chairman EL CHILITO: Hires Alvarado Consulting Inc. as Appraiser EL DORADO GAS: Taps Holcomb Law Group as Special Attorney EL DORADO: Trustee Taps Ratzlaff Tamberi & Gill LLP as Accountant ELANCO ANIMAL: Moody's Affirms Ba3 CFR & Alters Outlook to Positive FILTERX LLC: Sec. 341(a) Meeting of Creditors on February 13 FINANCE OF AMERICA: Bloom Retirement Holds 9.49% Equity Stake FIREFLY NEUROSCIENCE: Files Amendment No. 2 to Prospectus FLEXACAR LLC: Seeks to Hire Brighton Consulting as Loan Consultant FREE SPEECH: Allies, Enemies Gear Up for 2nd Infowars Sale GLUCOTRACK INC: To Issue 134.8M Shares After Warrant Exchange GRIT & GRAVEL: Hires Okeefe & Associates as Insolvency Counsel GRIT & GRAVEL: Taps Randy Teffeteller of West Coast as CRO HAYS TABERNACLE: Taps Lewis R. Landau as Bankruptcy Counsel HEART HEATING: Updates Dept. of Revenue Secured Claim; Amends Plan HERITAGE HOTELS: Seeks to Extend Plan Exclusivity to April 21 HILLLCREST CENTER: U.S. Trustee Unable to Appoint Committee HOMESTEADER FIRST: Unsecureds to Split $171K over 3 Years IFR FOUNDATION: Frances Smith Named Subchapter V Trustee IMPERIAL GROUP: Property Sale & Basel Proceeds to Fund Plan INDEPENDENCE CONTRACT: Completes Ch. 11 Restructuring Process INDEPENDENCE CONTRACT: Emerges from Chapter 11 Bankruptcy INSTITUTE OF ISLAMIC: Seeks to Hire Goe Forsythe as Legal Counsel INTERNATIONAL HOLDINGS: L. Todd Budgen Named Subchapter V Trustee IRON IQ: Taps Kutner Brinen Dickey Riley as Bankruptcy Counsel J&D CUSTOMS: Hires Weinberg Gross & Pergament as Counsel JAS AVIATION: Seeks Chapter 11 Bankruptcy Protection in Delaware JEA2 LLC: Hires Jones Lang Lasalle as Real Estate Broker KERISMA LLC: Seeks to Hire Tittle Law Group as Bankruptcy Counsel KKC RESTAURANTS: Hires Shraiberg Page P.A. as Local Counsel KSN EXPRESS: Hires Golding Law Offices as Bankruptcy Counsel KULR TECHNOLOGY: Signs Multi-Million-Dollar Licensing Agreement LATIGO HOMES: Seeks to Hire Briggs Freeman as Real Estate Broker LEITMOTIF SERVICES: Closes San Francisco Store After Ch. 11 Filing LI-CYCLE HOLDINGS: Glencore Holds 67.3% Equity Stake LI-CYCLE HOLDINGS: U.S. Subsidiaries Guarantee Glencore Notes LIGADO NETWORKS: U.S. Trustee Unable to Appoint Committee LONERO ENGINEERING: U.S. Trustee Appoints Creditors' Committee LUKITAS INC: Files Chapter 11 Bankruptcy Protection in Texas M & M BUCKLEY: Seeks Court Approval to Hire Bankruptcy Counsel MARKOV CORPORATION: Unsecureds to Split $30K over 60 Months MARQUIE GROUP: Delays Q2 Report for Period Ended Nov. 30 MAWSON INFRASTRUCTURE: December Monthly Revenue Up 7% M/M MERRILL SERVICES: Seeks to Tap Kincaide Ltd as Financial Advisor MERRILL SERVICES: Taps Rafool & Bourne PC as Bankruptcy Counsel METAL CHECK: Files Amendment to Disclosure Statement MIRANDA LOGISTICS: Hires Okeefe & Associates as Insolvency Counsel MIRANDA LOGISTICS: Taps Randy Teffeteller of West Coast as CRO MONDEE HOLDINGS: Jan. 23 Deadline Set for Panel Questionnaires MOORE MEDICAL: Claims to be Paid From Available Cash and Income MUSTANG SHOP: Unsecureds Will Get 35% of Claims over 60 Months N.C. 17-19 ADAMS: Taps Compass Greater NY as Real Estate Broker NEUROONE MEDICAL: CEO Dave Rosa Shares Achievements in Letter NEW CENTURY: Hires Herbert S. Rosenblum PC as Special Counsel NEXTTRIP INC: Posts $2 Million Net Loss for Quarter Ended Nov. 30 NOBLE'S SONG: Amends Sale Motion to Extend Sale Closing Date NORTH GEORGIA NURSING: Hires Candler Real Estate as Broker NOVA LIFESTYLE: Huge Energy International Holds 9.6% Stake NUGEN GROUP: Seeks to Tap Alexis Fuentes-Hernandez as Counsel OMIMEX PETROLEUM: Hires Weycer Kaplan Pulaski as Counsel OMNIQ CORP: Secures $1M in New Purchase Orders From Key Partner OMNIQ CORP: Secures $1MM New Orders From Key Logistics Partner PANZER BUILDING: Property Sale Proceeds to Fund Plan Payments PORT LOUIS: Seeks to Hire Achee Law Firm LLC as Counsel PPS PROPERTY: Taps Robert C. Nisenson as Bankruptcy Counsel PRESBYTERIAN HOMES: Hires Kaplan Johnson Abate as Legal Counsel PRESBYTERIAN HOMES: Hires Peer House LLC as Bookkeeper PROSPECT MEDICAL: Hires Omni Agent Solutions as Claims Agent RE WEALTH ADVISORS: Hires Shraiberg Page P.A. as Counsel REW INTERPRISES: Craig Geno Named Subchapter V Trustee REYNOSO VINEYARDS: Hires Bauch & Michaels LLC as Counsel RISE MANAGEMENT: Hires Derbes Law Firm LLC as Special Counsel RIVERA FAMILY: Seeks to Hire TAP Consulting as Accountant ROCKY MOUNTAIN: Case Summary & 20 Largest Unsecured Creditors SAFE & GREEN: Signs LOI to Acquire New Asia Holdings SAM'S CRAB: Paula Beran Named Subchapter V Trustee SANUWAVE HEALTH: Expects Q4 FY24 Revenue of Up to $10.3-Mil. SEBASTIAN HABIB: Seeks to Hire Jones & Walden as Attorney SHIFTPIXY INC: Gets OK to Hire Sichenzia Ross as Special Counsel SICHEM INC: Seeks to Hire Demarco-Mitchell PLLC as Legal Counsel SILVER AIRWAYS: U.S. Trustee Unable to Appoint Committee SMRK PROPERTY: Taps Keller Williams as Real Estate Broker SOUTHERN PINESTRAW: Seeks to Hire Ruff & Cohen P.A. as Attorney SPECIAL EFFECTS: Taps Goldbach Law Group as Insolvency Counsel SPIRIT AIRLINES: Committee Seeks to Hire Willkie Farr as Counsel STAFFING 360: Extends Credit Agreement Expiry to Feb. 1, 2025 STEPHENS GARAGE: Seeks to Hire Lugenbuhl Wheaton as Legal Counsel SWC INDUSTRIES: Committee Taps Robinson & Cole LLP as Counsel TBB DEEP ELLUM: Voluntary Chapter 11 Case Summary TECTUM ROOFING: Unsecureds Will Get 90.97% over 5 Years TRANS AMERICAN: Seeks to Hire Mullin Hoard & Brown as Counsel TROPHY CUPCAKES: Hires ProvenCFO LLC as Accountant TROPHY CUPCAKES: Hires Wenokur Riordan PLLC as Bankruptcy Counsel TSB VENTURES: Case Summary & Five Unsecured Creditors TSB VENTURES: Seeks Subchapter V Bankruptcy in Louisiana TWIN FALLS: Hires Bridger Consulting as Financial Advisor TWIN FALLS: U.S. Trustee Unable to Appoint Committee UNITED NATURAL: Mark Bushway Owns 57,493 Shares VAI CONSTRUCTION: Seeks to Hire Alla Kachan as Legal Counsel VIGILANT HEALTH: Seeks to Tap EmergeLaw PLC as Bankruptcy Counsel VILLAGE OAKS: Trustee Hires Ratzlaff Tamberi as Accountant WEAVEUP INC: Files Bankruptcy Protection in Delaware WELLPATH HOLDINGS: 2 Hospitals Face Closure, Risking Jobs WILLIAM LAY: Starts Subchapter V Bankruptcy Proceeding in Texas WILSON CREEK: U.S. Trustee Appoints Creditors' Committee WINESTEAD LLC: Unsecureds Will Get 13% of Claims in Plan WING BOSS: Seeks to Hire Earl E. Allen Jr. CPA as Accountant ZURVITA HOLDINGS: Seeks to Hire Ordinary Course Professionals [*] Over 2,000 Stores Have Closed, Set to Close in the U.S. in 2025 [*] Private Credit Fills Global Lending Gap as Banks Scale Back ********* 11AM INDUSTRIES: Hires Roderick Linton Belfance as Legal Counsel ---------------------------------------------------------------- 11AM Industries LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Ohio to hire Roderick Linton Belfance, LLP, as counsel. The firm will render these services: (a) advise the Debtor with respect to its powers and duties in the continued operation of the business; (b) advise the Debtor with respect to all bankruptcy matters; (c) prepare all necessary legal papers; (d) represent the Debtor at all hearings on matters relating to its affairs and interests; (e) prosecute and defend litigated matters that may arise during this case; (f) advise the Debtor with respect to other legal matters that may arise during the pendency of the case; and (g) perform other legal services that are necessary for the economic and efficient administration of the case. The firm will be paid at these hourly rates: Partner Attorneys $300 - $395 Associate & Of Counsel Attorneys $225 - $350 Paralegals $125 - $165 In addition, the firm will seek reimbursement for expenses incurred. The firm received an initial retainer in the amount of $16,738. Steven Heimberger, Esq., an attorney at Roderick Linton Belfance, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Steven J. Heimberger, Esq. Roderick Linton Belfance, LLP 50 S. Main Street, 10th Floor Akron, OH 44308 Telephone: (330) 434-3000 Facsimile: (330) 434-9220 Email: sheimberger@rlbllp.com About 11AM Industries LLC 11AM Industries LLC, operating under the trade names Zoogari Pets and Shop11AM, is a pet supply retailer based in Norton, Ohio. The company operates from its principal location at 4409 Cleveland-Massillon Road. 11AM Industries sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ohio Case No. 24-52038) on December 29, 2024. In its petition, the Debtor reported estimated assets between $50,000 and $100,000 and estimated liabilities between $500,000 and $1 million. Judge Alan M. Koschik handles the case. The Debtor is represented by Steven Heimberger, Esq. at Roderick Linton Belfance, LLP. 19 W 55: Seeks Chapter 11 Bankruptcy Protection in New York ----------------------------------------------------------- 19 W 55 LLC has sought Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filing, the Debtor reports $69,160,558 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About 19 W 55 LLC 19 W 55 LLC is the fee simple owner of an apartment building located at 19 W 55th Street, New York, NY 10019, with a current estimated value of $19 million. 19 W 55 LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No.: 24-45220) on December 13, 2024. In its petition, the Debtor reports total assets of $19,278,457 and total liabilities of $69,160,558. Honorable Bankruptcy Judge Nancy Hershey Lord handles the case. The Debtor is represented by Leo Jacobs, Esq., at Jacobs P.C., in New York. 3614 36TH AVE: Taps Julio E. Portilla P.C. as Bankruptcy Counsel ---------------------------------------------------------------- 3614 36th Ave LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire Law Office of Julio E. Portilla, P.C. as its counsel. The firm's services include: a. providing legal advice with respect to the Debtor's powers and duties under the Bankruptcy Code in the continued operation of its business and the management of its property; b. negotiating, drafting and pursuing all documentation necessary in the Debtor's Chapter 11 case, including, without limitation, any debtor-in-possession financing arrangements and the disposition of the Debtor's assets, by sale or otherwise; c. preparing legal papers; d. negotiating with creditors, preparing a plan of reorganization and taking the necessary legal steps to consummate the plan; e. appearing in court; f. attending meetings and negotiating with representatives of creditors, the United States Trustee, and other parties involved in the Debtor's Chapter 11 case; g. advising the Debtor on bankruptcy law, corporate law, corporate governance, tax, litigation and other issues attendant to its business operations; h. taking all necessary actions to protect and preserve the Debtor's estate including prosecuting actions on the Debtor's behalf, defending any action commenced against the Debtor, and representing the Debtor in negotiations concerning litigation in which it is involved, including objections to claims filed against the estate; and i. performing other necessary legal services. Law Office of Julio E. Portilla will charge $475 to $575 per hour for attorneys, while paralegals will bill an hourly rate of $125 per hour. The firm received an advanced payment retainer in the amount of $7,500. As disclosed in court filings, the Law Office of Julio E. Portilla is a "disinterested person" pursuant to Section 101(14) of the Bankruptcy Code. The firm can be reached through: Julio E. Portilla, Esq. Law Office of Julio E. Portilla, P.C. 555 Fifth Avenue, 17th Floor New York, NY 10017 Tel: (212) 365-0292 Fax: (212) 365-4417 Email: jp@julioportillalaw.com About 3614 36th Ave LLC 3614 36th Ave LLC is the owner of real property located at 36-14 36th Ave, Astoria, NY 11106 valued at $1.65 million. 3614 36th Ave LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 24-42069) on May 16, 2024, listing $1,650,000 in assets and $1,671,374 in liabilities. The petition was signed by Nikolaos Mavromichalis as member. Judge Elizabeth S Stong presides over the case. Julio E Portilla, Esq. at Law Office Julio E. Portilla, P.C. represents the Debtor as counsel. 58 OCEAN AVENUE: Taps Wenarsky and Goldstein as Bankruptcy Counsel ------------------------------------------------------------------ 58 Ocean Avenue LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to hire Law Offices of Wenarsky and Goldstein, LLC, as bankruptcy counsel. The firm represent the Debtor in chapter 11, file and prepare pleadings, appear at hearings all other areas of representation. The firm will be paid at these hourly rates: Scott J. Goldstein, Esq. $450 Jenee K. Ciccarelli, Esq. $450 Law Clerks $225 Paralegal $150 Scott J. Goldstein will also be reimbursed for reasonable out-of-pocket expenses incurred. Scott J. Goldstein, partner of the Law Offices of Wenarsky and Goldstein, LLC, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Scott J. Goldstein can be reached at: Scott J. Goldstein, Esq. Law Offices of Wenarsky and Goldstein, LLC 410 Route 10 West, Ste 214 Ledgewood, NJ 07852 Tel: (973) 221-5272 About 58 Ocean Avenue LLC 58 Ocean Avenue LLC is the fee simple owner of the real property located at 58 Ocean Ave., Deal, NJ 07723-1330 valued at $8 million. 58 Ocean Avenue LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 24-21708) on November 26, 2024. In the petition filed by Joseph Safdieh, as managing member, the Debtor reports total assets of $8,000,000 and total liabilities of $4,702,145. The Debtor is represented by Scott J. Goldstein, Esq. at LAW OFFICES OF WENARSKY & GOLDSTEIN LLC. 7 DAYS NEW ROOF: Updates Restructuring Plan Disclosures ------------------------------------------------------- 7 Days New Roof, Inc., f/k/a May Custom Home, Inc., submitted an Amended Plan of Reorganization for Small Business dated January 15, 2025. The Debtor filed its bankruptcy case in order to preserve the going concern value of its assets and to restructure its obligations. Since the filing of the case, revenues have stabilized. Revenues have not expanded to the levels contemplated by the prior plan, due in part to the impact of changes in the laws governing insurance. The amended plan is based on the Debtor's post-petition performance. The Debtor's financial projections show that the Debtor will be able to distribute projected disposable income to the holders of allowed administrative, priority tax, secured, and unsecured creditors. The loans with Bank of Central Florida and Kubota Credit Corporation are unimpaired and payments will be made on the dates set forth in the loan documents. The Debtor will make payments to holders of priority tax claims beginning on the fifteenth day of the month following the Effective Date and payments will continue on the fifteenth day of each month. Unsecured creditors holding allowed unsecured claims (Class 4) shall receive their pro-rata share of the Quarterly Unsecured Creditor Payment, which shall be made on a quarterly basis over a period of five years or twenty quarters, commencing thirty days after the Effective Date. The Plan also provides for projected disposable income to be distributed by the Debtor on a semi-annual basis. The Debtor anticipates that the Plan will be confirmed in February of 2025. If the Plan is confirmed in February of 2025, the first Quarterly Unsecured Payment to unsecured creditors will be made on approximately March 15, 2025, and the final Quarterly Unsecured Payment to unsecured creditors will be made on approximately January 15, 2030. The distributions under the Plan will be derived from (i) existing cash on hand on the Effective Date, and (ii) revenues generated by continued business operations. This Plan of Reorganization the Debtor from proceeds from continuing operations. Creditors will receive payments set forth in the Plan. In addition to fixed payments, creditors will receive their pro-rata share of net disposable income over the life of the Plan. Like in the prior iteration of the Plan, holders of allowed non priority unsecured claims shall receive their pro-rata share of the Unsecured Creditor Payment and Excess Cash Distribution. Payments required under the Plan will be funded from (i) existing cash on hand on the Effective Date, and (ii) revenues generated by continued operations. A full-text copy of the Amended Plan dated January 15, 2025 is available at https://urlcurt.com/u?l=M5B6gZ from PacerMonitor.com at no charge. Attorneys for the Debtor: Scott A. Stitcher, Esq. Stitcher Riedel Blain & Postler, P.A. 110 East Madison Street, Suite 200 Tampa, Florida 33602 Phone: (813) 229-0144 Email: sstitcher@srbp.com About 7 Days New Roof 7 Days New Roof, Inc., is a roofing company that operates throughout Central Florida and the Florida West Coast. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 24-03749) on July 3, 2024, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Scott A. Stichter, at Stichter, Riedel, Blain & Postler, P.A., is the Debtor's legal counsel. 810 WILTON: Amends Unsecureds & Secured Claims Pay Details ---------------------------------------------------------- 810 Wilton Ventures LLC submitted a Second Amended Chapter 11 Disclosure Statement describing Second Amended Chapter 11 Plan dated January 15, 2025. The Debtor is an entity incorporated for the development of 84-unit, five story mixed use apartment/retail with twenty-units ("Project") reserved for low income tenants located at 4461-4465 W. Melrose Avenue, Los Angeles, California 90029 also known as 709 N. Kenmore Avenue, Los Angeles California 90029 ("Subject Property"). In 2019, the Debtor acquired the Subject Property to develop the Project. Shortly after purchasing Subject Property, the Debtor submitted various plans, drawing, applications to the Los Angeles Department of Building and Safety ("LADBS") to obtain the necessary entitlements and permits to complete the Project at the Subject Property. In 2022, the Debtor was introduced to the CCHA which is a "Joint Powers Authority" ("JPA") created pursuant to Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California, empowered to produce, preserve, construct, maintain, and protect essential and quality affordable rental housing for essential low income and middle-class income tenants in the State of California. As a result, the Debtor believes that by April 30, 2025, (1) the City will become a member of CCHA/JPA, (2) the Subject Property will have cleared all remaining, supplemental corrections noted by LADBS, and (3) CCHA will commence the acquisition of the Subject Property for twelve million dollars with creditors to submit their demands into Escrow. The Plan proposes to restructure the financial affairs of the Debtor. The Plan does not propose any votes as the Plan proposed that all claimants will be paid in full with interest. The success of the Plan is dependent on the City becoming a member of the CCHA/JPA and to approve the permits. It took almost five years for the City to even begin the CCHA/JPA membership process. The recent fires are understandably occupying the attention of the City and this might be a reason for further delay. Class 1 Secured Claims consist of claims secured by Subject Property which generally are entitled to be paid in full, over time, with interest. Class 3 consists of General Unsecured Claims (claims that are not entitled to "priority" under the Bankruptcy Code and that are not secured by Subject Property). Here the general unsecured claims shall receive payment in full with interest. Class 4 consists of Insiders. This class will receive payment once all other classes are paid in full. The only executory contract is that with California Community Housing Agency ("CCHA") which allows the payment of $12,000,000.00 upon the completion of the permits. The Debtor is not in default or required to cure any defaults or payments in regards to the CCHA. The Plan proponent believes it is feasible because, both on the Effective Date and for the duration of the Plan, the proponent estimates that Debtor will have sufficient cash to make all distributions. The revenues are exclusively from CCHA and therefore, historical monthly budgets, projected revenues, expenses and proposed payments other than that in the Plan are unnecessary. A full-text copy of the Second Amended Disclosure Statement dated January 15, 2025 is available at https://urlcurt.com/u?l=RPKQ2z from PacerMonitor.com at no charge. Counsel to the Debtor: Stella Havkin, Esq. David Jacob, Esq. Havkin & Shrago, Attorneys at Law 5950 Canoga Avenue, #400 Woodland Hills, CA 91367 Tel: (818) 999-1568 Fax: (818) 293-2414 Email: stella@havkinandshrago.com About 810 Wilton Ventures 810 Wilton Ventures, LLC, owns a real property located at 709 North Kenmore Avenue, Los Angeles, California having a comparable sale value of $12 million. 810 Wilton Ventures LLC in Los Angeles, CA, filed its voluntary petition for Chapter 11 protection (Bankr. C.D. Cal. Case No. 24-15230) on July 1, 2024, listing $12,000,000 in assets and $7,892,627 in liabilities. Jonathan Pae, managing member, signed the petition. STELLA HAVKIN serves as the Debtor's legal counsel. AB INTERNATIONAL: Reports $50,036 Net Loss in Q1 FY25 ----------------------------------------------------- AB International Group Corp. filed with the U.S. Securities and Exchange Commission its Quarterly Report on Form 10-Q reporting a net loss of $50,036 on $626,350 of total revenue for the three months ended November 30, 2024, compared to a net income of $43,600 on $801,747 of total revenue for the three months ended November 30, 2023. As of November 30, 2024, the Company had $2,222,315 in total assets, $810,151 in total liabilities, and $1,412,164 in total stockholders' equity. As of November 30, 2024, AB International Group had an accumulated deficit of approximately $12 million and a working capital deficit of $18,904. These factors, among others, raise substantial doubt regarding the Company's ability to continue as a going concern. The future operations of the Company depend on its ability to realize forecasted revenues, achieve profitable operations, and depend on whether or not the Company could obtain the continued financial support from its stockholders or external financing. Management believes the existing stockholders will continue to provide the additional cash to meet the Company's obligations as they become due. The Company also intends to fund operations through cash flow generated from the operations, including the expected ticket sales from Mt. Kisco movie theatre, equity financing, debt borrowings, and additional equity financing from outside investors, to ensure sufficient working capital. However, no assurance can be given that additional financing, if required, would be available on favorable terms or at all. The Company said, "If we are not able to secure additional funding, the implementation of our business plan will be impaired." Management believes that the actions presently being taken to obtain additional funding and implement its strategic plan provide the opportunity for the Company to continue as a going concern. A full-text copy of the Company's Form 10-Q is available at: https://tinyurl.com/yc6wunmc About AB International Headquartered in Mt. Kisco, N.Y., AB International Group Corp. is an intellectual property (IP) and movie investment and licensing firm, focused on the acquisition and development of various intellectual property, including the acquisition and distribution of movies. Hackensack, N.J.-based Prager Metis CPAs, LLC, the Company's auditor since 2022, issued a "going concern" qualification in its report dated November 26, 2024, citing that the Company had limited cash, an accumulated deficit of approximately $11.8 million and a limited working capital deficit of approximately $0.2 million. The continuation of the Company as a going concern is dependent upon the continued financial support from its stockholders or external financing and achieving operating profits. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. ADELAIDA CELLARS: Taps Nicholas Rubin of Force Ten Partners as CRO ------------------------------------------------------------------ Adelaida Cellars, Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire Force Ten Partners, LLC and designate Nicholas Rubin as chief restructuring officer and restructuring advisor personnel. The firm's services include: (a) managing the restructuring affairs of the Debtor, supervising the Debtor's professionals, and providing periodic reports to the Debtor's Independent Director; (b) assisting legal counsel and the Debtor in executing the Debtor's restructuring efforts; (c) assisting in connection with motions, responses, or other court activity as directed by legal counsel; (d) evaluating and developing restructuring plans and other strategic alternatives for maximizing the value of the Debtor and its assets and recommending to the Independent Director various plans and strategic alternatives from time to time, and upon receipt of Independent Director approval of a proposed course of action, using commercially reasonable efforts to attempt to implement such course of action, subject to, as applicable, approval of any court of competent jurisdiction; (e) assisting in negotiations with the Debtor's creditors and the Debtor's efforts to manage accounts payable and accounts receivable; (f) preparing declarations, reports, depositions, and testimony; (g) participating in meetings and provide support to the Debtor and its professionals in responding to information requests, communicating with creditors, official committees of unsecured creditors, the Office of the United States Trustee for the Central District of California, other parties in interest, and professionals hired by the same; (h) advising the Independent Director in the development, negotiation, and implementation of restructuring initiatives and evaluation of strategic alternatives; (i) preparing information and analysis necessary for the confirmation of a plan of reorganization, including information contained in the disclosure statement such as a liquidation analysis, if applicable; (j) assisting in implementing a chapter 11 plan of reorganization, if applicable; (k) rendering testimony, as requested, about the matters regarding which Force Ten and its personnel are providing services; and (l) providing such other restructuring or advisory services as are consistent with the role of the CRO and/or the above-described services, requested by the Debtor or counsel to the Debtor, that are not duplicative of services provided by other professionals, and as agreed by Force Ten. The firm will be paid at these hourly rates: CRO $950 Partners $850 to $950 Managing Directors $495 to $795 Directors $425 to $595 Analysts $255 to $400 Force 10 received cash retainers totaling $150,000. Nicholas Rubin, a partner of Force 10 Partners LLC, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtors and their estates. Force 10 Partners can be reached at: Nicholas Rubin, Esq. Force 10 Partners 5271 California Ave., Suite 270 Irvine, CA 92617 Phone: (310) 870-3205 About Adelaida Cellars Inc. Adelaida Cellars, Inc. is a family-owned and operated winery in Paso Robles, Calif. Adelaida Cellars sought Chapter 11 petition (Bankr. C.D. Cal. Case No. 24-11409) on December 13, 2024, with $10 million to $50 million in both assets and liabilities. Nicholas D. Rubin, chief restructuring officer of Adelaida Cellars, signed the petition. The Debtor tapped Hamid R. Rafatjoo, Esq., at Raines Feldman Littrell, LLP as legal counsel and Force Ten Partners, LLC as restructuring advisor. ADELAIDA CELLARS: Taps Raines Feldman Littrell as Legal Counsel --------------------------------------------------------------- Adelaida Cellars, Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire Raines Feldman Littrell LLP as its general bankruptcy counsel. The firm will render these services: 1. advise the Debtor with respect to the requirements and provisions of the Bankruptcy Code, Federal Rules of Bankruptcy Procedure, Local Bankruptcy Rules, U.S. Trustee Guidelines, and other applicable requirements that may affect the Debtor; 2. assist the Debtor in preparing and filing its schedules and statement of financial affairs, complying with and fulfilling U.S. Trustee requirements, and preparing other documents as may be required after the initial filing of a chapter 11 case; 3. assist the Debtor in the preparation of a disclosure statement and formulation of a chapter 11 plan of reorganization; 4. advise the Debtor concerning the rights and remedies of the estate and the Debtor in regard to adversary proceedings that may be removed to, or initiated in, the Bankruptcy Court; 5. represent the Debtor in any proceeding or hearing in the Bankruptcy Court in any action where the rights of the estate or the Debtor may be litigated or affected; and 6. provide such other services as may be necessary or otherwise arise during the pendency of this case. The firm will undertake representation of the Debtor at an hourly rate of between $465 and $1,300. The partners supervising the case will be Hamid R. Rafatjoo and Kyra E. Andrassy, whose hourly rates are $1,300 and $795, respectively. The firm received a total pre-petition retainer in the amount of $250,000. Hamid Rafatjoo, Esq., a partner at Raines Feldman Littrell LLP, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Hamid R. Rafatjoo, Esq. RAINES FELDMAN LITTRELL LLP 1900 Avenue of the Stars, 19th Floor Los Angeles, CA 90067 Telephone: (310) 440-4100 Facsimile: (310) 691-1367 About Adelaida Cellars Inc. Adelaida Cellars, Inc. is a family-owned and operated winery in Paso Robles, Calif. Adelaida Cellars sought Chapter 11 petition (Bankr. C.D. Cal. Case No. 24-11409) on December 13, 2024, with $10 million to $50 million in both assets and liabilities. Nicholas D. Rubin, chief restructuring officer of Adelaida Cellars, signed the petition. The Debtor tapped Hamid R. Rafatjoo, Esq., at Raines Feldman Littrell, LLP as legal counsel and Force Ten Partners, LLC as restructuring advisor. AFRIN TRANSPORT: Hires Alvarado Consulting Inc. as Appraiser ------------------------------------------------------------ Afrin Transport, Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Alvarado Consulting, Inc. as appraiser. The firm will prepare an appraisal opinion on the fair market value of a 100 percent equity interest of the Debtor as of October 1, 2024. The firm will be paid a flat fee of $5,000. Edward A. Alvarado, a partner at Alvarado Consulting, Inc., disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Edward A. Alvarado Alvarado Consulting, Inc. 1801 Century Park East, Suite 2400 Los Angeles, CA 90067 Tel: (213) 359-5444 About Afrin Transport Afrin Transport, Inc., is a trucking company in Anaheim, Calif., that offers same-day shipping services. It ships freight for a wide variety of businesses throughout Southern California, including warehouse delivery, to and from rail/intermodal delivery and department store delivery. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No. 24-12497) on October 1, 2024, with $100,000 to $500,000 in assets and $1 million to $10 million in liabilities. John-Patrick Fritz serves as Subchapter V trustee. Matthew D. Resnik, Esq., at RHM Law, LLP, is the Debtor's bankruptcy counsel. AFRITEX VENTURES: Examiner Taps Rochelle McCullough as Counsel -------------------------------------------------------------- J. Mark Chevallier, the examiner in the bankruptcy case of Afritex Ventures, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Rochelle McCullough, LLP as his counsel. The firm's services include: a. assisting the Examiner in drafting and filing of the Examiner's report and pleadings in the case; b. advising the Examiner about his powers and duties in the case; c. assisting the Examiner in his ongoing investigation of the acts, conduct, assets, liabilities, and financial condition of the Debtor and other matters relevant to the Examiner's investigation in the case; d. representing the Examiner in all contested matters, adversary proceedings, and any other court appearance related to this case in connection with which it is necessary for the Examiner to participate; and e. performing such other legal services as may be required by the Examiner in the interest of the estate. The firm will be paid at these 2025 hourly rates: Michael R. Rochelle $900 Kevin D. McCullough $700 Gregory H. Bevel $700 J. Mark Chevallier $700 Joseph F. Postnikoff $650 Laurie Dahl Rea $650 Shannon Thomas $600 Curt Hochbein $550 Bryan Rochelle $450 Will Cernosek $425 Michael Pipkin $375 Najeeb Aminyar $325 Jillian Doughty $325 Law Clerk $275 Paralegal $225 Bryan Rochelle, Esq., a partner at Rochelle McCullough, disclosed in a court filing that his firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Bryan L. Rochelle, Esq. J. Mark Chevallier, Esq. Rochelle McCullough, LLP 901 Main Street, Suite 3200 Dallas, TX 75202 Telephone: (844) 766-2529 Facsimile: (888) 467-5979 Email: bryan.rochelle@romclaw.com Email: mchevallier@romclaw.com About Afritex Ventures Afritex Ventures is a diversified investment holding company specializing in the seafood industry. Headquartered in Dallas, the Company develops and markets premium seafood products under multiple brands. Afritex Ventures, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Case No. 24-43390) on September 22, 2024, listing $1 million to $10 million in assets and $1 million to $50 million in liabilities. The petition was signed by David J. Diamond as director. Judge Edward L Morris presides over the case. Vickie L. Driver, Esq. at CROWE & DUNLEVY, P.C. represents the Debtor as counsel. AIMBRIDGE HOSPITALITY: Lenders Deal Stops Prolonged Ch. 11 Process ------------------------------------------------------------------ David Eisen of Hotels Mag reports that Aimbridge Hospitality, the world's largest third-party hotel management company, has secured a Restructuring Support Agreement (RSA) to significantly reduce its debt and strengthen its financial outlook. According to the report, the deal will convert over $1.1 billion in debt into equity and infuse $100 million in new capital, reducing Aimbridge's total debt from $1.3 billion to a maximum of $210 million. The RSA has garnered "overwhelming support" from Aimbridge's first- and second-lien lenders, with the former set to become majority owners. While the company has not confirmed plans for a Chapter 11 bankruptcy filing, RSAs often serve as a precursor, providing a streamlined framework to resolve financial challenges efficiently, the report relates. Industry experts note that RSAs are critical in maintaining operational stability and stakeholder confidence during restructuring. They help reassure suppliers, employees, and partners that despite financial hurdles, the company has a clear recovery plan in place. Craig Smith, who took over as CEO in 2024 following leadership roles at Marriott International, expressed optimism about the company's future, the report states. "This agreement will transform our balance sheet, positioning Aimbridge to accelerate our long-term strategy and deliver exceptional service to our hotel owners," Smith stated. "Over the past year, we've invested in talent, enhanced services, and streamlined operations to drive hotel performance. With a stronger financial foundation, we're ready to expand into new markets and reinforce our leadership in the hospitality industry." Under Smith's leadership, Aimbridge has undertaken a significant restructuring to simplify its complex organizational framework. His vision focuses on reducing layers of bureaucracy to create a more efficient, responsive company capable of adapting to market demands, according to report. Despite the ongoing financial restructuring, Aimbridge has assured employees, vendors, and partners that day-to-day operations remain stable. Salaries, benefits, and supplier payments will continue without disruption, ensuring minimal impact on business activities, the report states. A source close to the negotiations indicated that multiple strategies are under consideration to implement the RSA's terms, with specifics yet to be finalized. Aimbridge's restructuring follows a series of strategic shifts aimed at streamlining operations. Since the departure of former CEO Mike Deitemeyer in 2023, the company has reorganized its U.S. operations into two divisions -- Aimbridge Select and Aimbridge Full Service -- while establishing an Owner Relations team to enhance alignment with hotel owners. Smith has also made key leadership appointments, including former Marriott executive Eric Jacobs as Chief Global Growth Officer and expanding responsibilities for Aly El-Bassuni, President-Owner Relations. These moves have supported Aimbridge's efforts to improve communication and operational efficiency. The RSA reflects lender confidence in Aimbridge's leadership and business model, positioning the company for long-term success despite current financial challenges. While a Chapter 11 filing remains a possibility, the restructuring agreement provides a clear path to stability and growth. With a reduced debt burden and a focus on operational excellence, Aimbridge is poised to reinforce its position as a global leader in hotel management, ready to capitalize on new opportunities in an evolving industry, Hotels Mag reports. About Aimbridge Hospitality Aimbridge Hospitality is the world's largest third-party hotel management company. ALCOVY TRUCKING: Seeks to Hire Seth Twum & Company as Accountant ---------------------------------------------------------------- Alcovy Trucking, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Seth Twum & Company PC as its certified public accountant. The firm will prepare the Debtor's monthly operating reports and tax returns, and provide general accounting and tax advice and other related services. The firm will receive a retainer in the amount of $3,000. Seth Twum & Company does not represent or hold any interest adverse to the Debtor or its estate, and is a "disinterested person" as defined in 11 US.C. 101(14), according to court filings. The firm can be reached through: Jimmy Haralambus Seth Twum & Company PC 2971 Flowers Rd. S, Ste. 221 Atlanta, GA 30341-5405 Phone: (770) 451-1118 Fax: (770) 451-6815 Email: sethtm@sethtwumco.com About Alcovy Trucking, LLC Alcovy Trucking LLC is part of the general freight trucking industry. Alcovy Trucking LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 24-58210) on August 6, 2024. In the petition filed by Edward Watkins, as managing member, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtor is represented by Natalyn Archibong, Esq. at LAW OFFICES OF NATALYN ARCHIBONG. ALLIED CORP: Reports $780,290 Net Loss in Q1 FY2025 --------------------------------------------------- Allied Corp. filed with the U.S. Securities and Exchange Commission its Quarterly Report on Form 10-Q reporting a net loss of $780,290 on $27,669 of revenue for the three months ended November 30, 2024, compared to a net loss of $836,673 on $19,039 of total revenue for the three months ended November 30, 2023. As of November 30, 2024, the Company had $1,950,514 in total assets, $9,590,958 in total liabilities, and $7,640,444 in total stockholders' deficit. For the three months ended November 30, 2024, Allied Corp. generated minimal revenue and did not achieve positive operating cash flows. As at November 30, 2024, the Company had a working capital deficit of $8,874,738 (August 31, 2024 - $8,834,739). These factors raise substantial doubt about the Company's ability to continue as a going concern. The Company's ability to continue relies on raising sufficient financing to acquire or develop a profitable business. Management plans to fund operations and future development primarily through equity sales, supplemented by related party loans, until future operations can generate sufficient funds to meet working capital needs. A full-text copy of the Company's Form 10-Q is available at: https://tinyurl.com/42vaxeev About Allied Corp Headquartered in Kelowna, BC Canada, Allied Corp. is an international cannabis company with its main production center in Colombia, is one of the few companies that has exported from Colombia internationally, and among the first company to export commercial cannabis flower from Colombia. By leveraging the Colombian advantages and its Canadian cannabis cultivation expertise, Allied offers consistent supply of premium cannabis product at scale and attractive prices, while meeting high quality standards, thus significantly de-risking its partners supply chain. The Woodlands, TX-based M&K CPAS, PLLC, the Company's auditor since 2022, issued a "going concern" qualification in its report dated Dec. 16, 2024, citing that the Company has suffered net losses from operations, has a net capital deficiency, and has minimal revenue which raises substantial doubt about its ability to continue as a going concern. AMERICAN OPEN: Hires Goe Forsythe & Hodges LLP as Counsel --------------------------------------------------------- American Open Space Remedies LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Goe Forsythe & Hodges LLP as counsel. The firm will render these services: (a) advise and assist the Debtor with respect to compliance with the requirements of the United States Trustee; (b) advise the Debtor regarding matters of bankruptcy law; (c) advise the Debtor regarding assumption and rejection of executory contracts and leases; (d) represent the Debtor in any proceedings or hearings in the Bankruptcy Court where its rights under the Bankruptcy Code may be litigated or affected; (e) conduct examinations of witnesses, claimants, or adverse parties and to prepare and assist in the preparation of reports, accounts, and pleadings related to this Chapter 11 case; (f) advise the Debtor concerning the requirements of the Bankruptcy Court and applicable rules as the same affect it in this proceeding; (g) assist the Debtor in negotiation, formulation, confirmation, and implementation of a Chapter 11 plan of reorganization; (h) make any bankruptcy court appearances on behalf of the Debtor; and (i) take such other action and perform such other services as the Debtor may require of the firm in connection with this Chapter 11 case. The firm will be paid at these rates: Robert Goe, Attorney $695 per hour Marc Forsythe, Attorney $695 per hour Ronald Hodges, Attorney $695 per hour Brian Van Marter, Of Counsel $625 per hour Greg Preston, Of Counsel $625 per hour Dixon Gardner, Attorney $575 per hour Reem Bello, Attorney $565 per hour Charity Manee, Attorney $535 per hour Ryan Riddles, Attorney $475 per hour Taylor DeRosa, Of Counsel $475 per hour Arthur Johnston, Paralegal $210 per hour Britney Bailey, Paralegal $210 per hour Kerry Murphy, Paralegal $225 per hour Arthur Johnston $210 per hour Lauren Gillen, Paralegal $195 per hour Evan Siegel $175 per hour The firm received a pre-petition retainer of $75,000 on November 8, 2024. Mr. Goe disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Robert P. Goe, Esq. Goe Forsythe & Hodges LLP 17701 Cowen, Lobby D, Suite 210 Irvine, CA 92614 Tel: (949) 796-2460 Fax: (949) 955-9437 Email: rgoe@goeforlaw.com About American Open Space Remedies LLC American Open Space Remedies, LLC is a company in Irvine, Calif., engaged in activities related to real estate. American Open Space Remedies filed Chapter 11 petition (Bankr. C.D. Calif. Case No. 24-12885) on Nov. 8, 2024, listing $100 million to $500 million in assets and $10 million to $50 million in liabilities. Judge Scott C. Clarkson oversees the case. Goe Forsythe & Hodges, LLP serves as the Debtor's legal counsel. AMERINVEST LLC: Court OKs Deal to Use APSEC's Cash Collateral ------------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of Virginia approved a stipulation allowing Amerinvest, LLC to use the cash collateral of APSEC Resolution, LLC. Under the stipulation, the company is authorized to use the cash collateral to make a monthly payment of $11,251.02 to APSEC as adequate protection. The stipulation also authorizes the company to use the lender's cash collateral to maintain insurance on assets securing the loan it obtained from the lender and place into escrow with the Subchapter V trustee funds not to exceed $1,500 per month to pay the trustee's fees. Amerinvest is prohibited from using the cash collateral for other purposes without further order of the bankruptcy court. As protection, APSEC was granted a replacement lien on the collateral and all post-petition assets of Amerinvest. The lender previously opposed the use of its cash collateral, including rents from the company's real property located in Alexandria, Va. APSEC is a secured lender of the company pursuant to a loan agreement and other documents executed in connection with the indebtedness owed to Bank of Hope, which were eventually assigned to the lender. APSEC can be reached through its counsel: John T. Farnum, Esq. Miles & Stockbridge P.C. 1201 Pennsylvania Ave., Suite 900 Washington, DC 20002 Tel: 202.465.8385 jfarnum@milesstockbridge.com About Amerinvest LLC Amerinvest, LLC is a company in McLean, Va., engaged in renting and leasing real estate properties. Amerinvest filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Va. Case No. 24-12069) on Nov. 5, 2024, listing $1 million to $10 million in both assets and liabilities. The petition was signed by Daria Karimian as managing member. Judge Klinette H. Kindred oversees the case. The Debtor is represented by: David C. Jones, Jr. David C. Jones, Jr., P.C. Tel: 703-273-7350 Email: davidcjonesjr@gmail.com ANALABS INC: U.S. Trustee Unable to Appoint Committee ----------------------------------------------------- The U.S. Trustee for Region 4 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Analabs Inc. About Analabs Inc. Analabs Inc. provides cannabis testing, drug testing and environmental testing for corporations of all sizes. Its clients include waste and drinking water plants, coal companies, engineering firms, public school systems, grocery stores, natural gas companies, local, state, and federal government agencies. Analabs sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. W. Va. Case No. 24-50095) on December 3, 2024, with total assets of $1,882,258 and total liabilities of $3,188,705. Kelli Harrison, director and vice-president of Analabs, signed the petition. Judge B. Mckay Mignault handles the case. The Debtor is represented by Paul W. Roop, II, Esq., at Roop Law Office, LC. ARTIFICIAL INTELLIGENCE: Newest Tech, SARA, Finds First Client -------------------------------------------------------------- Artificial Intelligence Technology Solutions, Inc., along with its subsidiary Robotic Assistance Devices, Inc. (RAD-I), announced on January 17 the first order of its revolutionary SARA (Speaking Autonomous Responsive Agent) security solution, just 13 days after its official launch. The order comes from a leading construction site operator, ready to leverage SARA to elevate their security operation center (SOC) and safeguard critical assets and personnel. According to the Company, "SARA signals a pivotal moment in the evolution of security operations. By automating traditionally labor-intensive processes, it empowers Global Security Operations Centers (GSOCs) and security firms to reimagine their capabilities, delivering improved efficiency, responsiveness, and cost management. This revolutionary approach aligns with the demands of an industry poised for significant growth, enabling organizations to enhance their services while maintaining a competitive edge. "This rapid adoption highlights the demand for RAD's innovative solutions and SARA's ability to address security challenges in high-risk environments. Acting as an AI-driven communications hub, SARA seamlessly integrates with RAD's advanced ecosystem, providing intelligent, autonomous responses that redefine how construction sites approach security operations." Steve Reinharz, CEO and CTO of AITX and RAD, commented, "The speed at which SARA has found its first deployment speaks volumes about the need for smarter, more cost-effective security solutions in industries like construction. We're thrilled to see SARA already making an impact, protecting vital assets and delivering meaningful value to our clients." SARA is designed to enhance SOC efficiency, offering features like real-time communication, AI-powered threat detection, and rapid response capabilities. By optimizing security workflows and reducing reliance on traditional, labor-intensive measures, SARA empowers security operators to make faster, more informed decisions, all while reducing costs. The Company stated that the Client, who face challenges like equipment theft and unauthorized access, has identified SARA as the ideal solution for their needs. Its implementation will provide continuous monitoring and proactive protection of the site's valuable assets. This milestone, the Company added, underscores RAD's mission to revolutionize the security industry by delivering innovative, cost-effective AI and robotics solutions. The deployment of SARA further solidifies RAD's position as a leader in autonomous security technology. About Artificial Intelligence Technology Headquartered in Ferndale, Mich., Artificial Intelligence Technology Solutions Inc. is an innovator in the delivery of artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges, and fuel new business ideas. Through its next-generation robotic product offerings, AITX's RAD, RAD-R, RAD-M, and RAD-G companies help organizations streamline operations, increase ROI, and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services, allowing experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staff and gain higher levels of situational awareness, all at drastically reduced costs. AITX solutions are well-suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education, and healthcare. Deer Park, Illinois-based L J Soldinger Associates, LLC, the Company's auditor since 2019, issued a "going concern" qualification in its report dated May 9, 2024, citing that the Company had a net loss of approximately $20.7 million, an accumulated deficit of approximately $133.0 million, and stockholders' deficit of approximately $40.2 million as of and for the year ended Feb. 29, 2024, which raise substantial doubt about its ability to continue as a going concern. ARTIFICIAL INTELLIGENCE: Posts $3.7MM Net Loss in Third Quarter --------------------------------------------------------------- Artificial Intelligence Technology Solutions Inc. filed with the U.S. Securities and Exchange Commission its Quarterly Report on Form 10-Q reporting a net loss of $3,703,974 on $1,750,968 of revenues for the three months ended November 30, 2024, compared to a net loss of $3,966,484 on $596,980 of revenues for the three months ended November 30, 2023. For the nine months ended November 30, 2024, the Company reported a net loss of $11,828,656 on $4,277,951 of revenues, compared to a net loss of $13,281,405 on $1,368,551 of revenues for the same period in 2023. As of November 30, 2024, the Company had $9,797,318 in total assets, $56,814,939 in total liabilities, and $47,017,621 in total stockholders' deficit. Steve Reinharz, CEO and CTO of AITX and its four subsidiaries, comments: "We're thrilled to continue to deliver financial results that bring us ever closer to our immediate goal of bringing AITX to full operational positive cash flow, which we believe we will achieve in calendar year 2025 with continued sales growth and the new solutions coming along despite some SG&A increase. The significant revenue increase highlights the market's growing trust in our solutions, while the transition to our fourth-generation platform positions us to scale faster and deliver even more value to our clients." A full-text copy of the Company's Form 10-Q is available at: https://tinyurl.com/yc6ke8hw About Artificial Intelligence Technology Headquartered in Ferndale, Mich., Artificial Intelligence Technology Solutions Inc. is an innovator in the delivery of artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges, and fuel new business ideas. Through its next-generation robotic product offerings, AITX's RAD, RAD-R, RAD-M, and RAD-G companies help organizations streamline operations, increase ROI, and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services, allowing experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staff and gain higher levels of situational awareness, all at drastically reduced costs. AITX solutions are well-suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education, and healthcare. Deer Park, Illinois-based L J Soldinger Associates, LLC, the Company's auditor since 2019, issued a "going concern" qualification in its report dated May 9, 2024, citing that the Company had a net loss of approximately $20.7 million, an accumulated deficit of approximately $133.0 million, and stockholders' deficit of approximately $40.2 million as of and for the year ended Feb. 29, 2024, which raise substantial doubt about its ability to continue as a going concern. As of Aug. 31, 2024, Artificial Intelligence Technology Solutions had $9.22 million in total assets, $54.68 million in total liabilities, and a total stockholders' deficit of $45.47 million. ASHER HOMES: Case Summary & 20 Largest Unsecured Creditors ---------------------------------------------------------- Debtor: Asher Homes, LLC 9128 S. Braden Tulsa, OK 74137 Business Description: The Debtor specializes in owning and managing real estate properties, including subdivision lots in Broken Arrow, Tulsa, Jenks, Bixby, and Owasso, Oklahoma, with a total current value of $12.72 million. Chapter 11 Petition Date: January 20, 2025 Court: United States Bankruptcy Court Northern District of Oklahoma Case No.: 25-10067 Judge: Hon. Terrence L Michael Debtor's Counsel: Ron Brown, Esq. BROWN LAW FIRM PC 1609 E. 4th St. Tulsa OK 74120 Tel: (918) 585-9500 Email: ron@ronbrownlaw.com Total Assets: $12,736,760 Total Liabilities: $11,688,091 The petition was signed by Daniel Ruhl as president. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/ELXPWUY/Asher_Homes_LLC__oknbke-25-10067__0001.0.pdf?mcid=tGE4TAMA List of Debtor's 20 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Mill Creek Lumber Co. Promissory Note $178,399 PO Box 4770 Tulsa, OK 74159-0000 2. AIRCO Service Inc Business Debt $149,636 1131 E 58th St Tulsa, OK 74146-0000 3. L&W Supply Business Debt $80,395 12595 E 61st St Broken Arrow, OK 74012-0000 4. ABC Supply Co., Inc. Business Debt $73,694 7333 E. 38th St. Tulsa, OK 74135-0000 5. Spiritbank Non-Purchase $71,641 1800 S Baltimore Ave 700 Money Security Tulsa, OK 74119-5216 Interest 6. Sierra Pools and Spas LLC Business Debt $62,296 13795 E 560 Rd Inola, OK 74036 7. City National Bank and $44,629 Trust Company 500 SW D Ave. Lawton, OK 73501 8. Metro Appliances & More Business Debt $31,035 5313 S Mingo Rd Tulsa, OK 74146-0000 9. Baker Irrigation Business Debt $28,967 14700 S Harvard Ave Bixby, OK 74008-000 10. LifeStyles Stores, Inc. Business Debt $28,517 1801 W 33rd St Edmond, OK 73013-0000 11. Paradygm Development LLC Business Debt $26,275 8630 S Peoria Ave Tulsa, OK 74132 12. Mabrey Bank Mortgage $25,836 Yale Market 8085 S. Yale Tulsa, OK 74136 13. Spiritbank Mortgage $25,214 1800 S Baltimore Ave 700 Tulsa, OK 74119-5216 14. Superior Termite & Pest Control Business Debt $24,826 205 South 85th E Ave Tulsa, OK 74112-0000 15. Mabrey Bank Mortgage $21,939 Yale Market 8085 S. Yale Tulsa, OK 74136 16. Millcreek Lumber & Mechanic's or $21,300 Supply Company Materialman's P.O. Box 4770 Lien Tulsa, OK 74159-0000 17. L&S Overhead Door Business Debt $21,067 7338 E 38th St Tulsa, OK 74145 18. Whitacre Glass Works Business Debt $18,490 8177 E 44th St Tulsa, OK 74145 19. Toros Construction Inc Business Debt $15,415 7202 E 92nd St Tulsa, OK 74133 20. EC Plumbing and Drain Business Debt $15,300 10114 E 47th St Tulsa, OK 74146 ASHER HOMES: Seeks Chapter 11 Bankruptcy Protection in Oklahoma --------------------------------------------------------------- On January 20, 2025, Asher Homes LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Oklahoma. According to court filing, the Debtor reports between $10 million and $50 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Asher Homes LLC Asher Homes LLC is a limited liability company. Asher Homes LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Okla. Case No. 25-10067) on January 20, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge Terrence L. Michael handles the case. The Debtor is represented by Ron D. Brown, Esq., at Brown Law Firm PC, in Tulsa, Oklahoma. ASHFORD HOSPITALITY: Completes Sale of Courtyard Boston for $121.5M ------------------------------------------------------------------- Ashford Hospitality Trust, Inc. announced that it completed the sale of the 315-room Courtyard Boston Downtown located in Boston, Massachusetts for $121.5 million in cash, net of selling expenses, respectively. Additionally, the Company repaid approximately $118.4 million on the mortgage loan, of which CY Boston was one of 19 hotels securing the mortgage loan. "We are pleased to announce the closing of the sale of the Courtyard Boston Downtown," commented Stephen Zsigray, Ashford Trust's President and Chief Executive Officer. "This sale not only deleverages our BAML Highland Pool loan but also results in significant capital expenditure savings going forward. We are encouraged by the improved sentiment we are seeing in both the transaction and financing markets and the progress we are making with our recently announced GRO AHT initiative as evidenced by the strong revenue growth we achieved in December." About Ashford Hospitality Headquartered in Dallas, Texas, Ashford Hospitality Trust, Inc. operates as a self-advised real estate investment trust focusing on the lodging industry. Ashford Hospitality Trust reported a net loss of $180.73 million for the year ended Dec. 31, 2023, compared to a net loss of $141.06 million for the year ended Dec. 31, 2022. As of Dec. 31, 2023, the Company had $3.46 billion in total assets, $3.69 billion in total liabilities, $22.01 million in redeemable noncontrolling interests in operating partnership, $79.98 million in Series J Redeemable Preferred Stock, $0.01 par value (3,475,318 shares issued and outstanding at December 31, 2023), $4.78 million in Series K Redeemable Preferred Stock, $0.01 par value (194,193 shares issued and outstanding at December 31, 2023), and $331.04 million in total deficit. * * * Egan-Jones Ratings Company, on May 5, 2023, maintained its 'CCC+' foreign currency and local currency senior unsecured ratings on debt issued by Ashford Hospitality Trust, Inc. On March 1, 2024, the Company received notice that the hotel properties securing the KEYS Pool A and KEYS Pool B loans had been transferred to a court-appointed receiver. On March 6, 2024, the Company sold the Residence Inn Salt Lake City in Salt Lake City, Utah, for $19.2 million in cash. As reported by the TCR on April 22, the Company closed on the sale of the 390-room Hilton Boston Back Bay in Boston, Massachusetts, for $171 million. On April 29, it closed on the sale of the 85-room Hampton Inn in Lawrenceville, Georgia, for $8.1 million. On May 27, Ashford closed a $267 million refinancing of the mortgage loan for the 673-room Renaissance Hotel in Nashville, Tennessee, which had a final maturity date of March 2026. On June 14, the Company closed on the sale of the 90-room Courtyard located in Manchester, Connecticut, for $8 million. ASPEN JERSEY: Moody's Affirms 'B3' CFR & Alters Outlook to Negative ------------------------------------------------------------------- Moody's Ratings affirmed Aspen Jersey Topco Limited's ("Aptos") corporate family rating and probability of default rating rating at B3 and B3-PD, respectively. The senior secured first lien bank credit facilities issued by Aptos Canada Inc. were also affirmed at B3. The outlook has been changed to negative from stable for both entities. Aptos is a provider of software solutions to retailers. Aptos' earnings declined in FY2024 (ended September 30) due to lower demand for non-recurring services and costs pressures facing its mainly retailers customers. Debt to EBITDA leverage has remained in the 7.5x area, and free cash flow has been negative as well. Moody's anticipate revenue growth, financial leverage reduction and free cash flow expansion may be difficult to achieve over the next 12-18 months. Additionally, the size of the revolver will drop to only $24 million in March 2025 when a portion of the commitments expire, leading to lower available external liquidity. These factors increase credit and refinancing risks for the company, leading us to the change in the outlook to negative from stable. RATINGS RATIONALE Aptos' B3 CFR reflects the company's highly leveraged capital structure, small revenue scale and operating scope relative to its enterprise software peers and concentrated exposure to the retail sector. Revenue remains challenged as the customer base, which includes retailers, are under cost pressures. Moody's expect Aptos' revenue growth to be flat this year. Moody's expect SaaS revenue to remain stable given the good retention rates for the software. However, revenue for non-SaaS services, which includes support services, licenses and professional services, will remain challenged. The rating is also constrained by the highly competitive nature of the enterprise software market and the company's niche position as a provider of retail software solutions to mid-market and large specialty retailers. Moody's expect debt to EBITDA leverage will remain in the 7.5x area and free cash flow will be limited in FY2025. Moody's outlook for the retail sector includes limited growth opportunities, which implies limited growth for Aptos. Aptos' credit profile benefits from its good market position in the niche retail enterprise software market, geographic diversification with deployments to over 60 countries and high customer renewal rates. Aptos' recurring subscription and support revenue was approximately 65% of its total revenue in FY2024, a level that is below that of many rated enterprise software companies, but which nevertheless provides good revenue and operating cash flow stability. Debt capital is comprised of a $40 million senior secured first lien revolving credit facility, with $16 million of commitments expiring March 2025 and the remaining $24 million available until March 2027, a $255 million senior secured first lien term loan B due March 2027 and a $125 million senior secured floating rate notes due March 2027 (unrated). The B3 senior secured first lien credit facility (revolver and term loan B) ratings are in line with the B3 CFR since the secured debt represents (along with unrated first lien senior secured notes) the preponderance of the debt in Aptos' capital structure. The credit facility is supported by a first priority security interest in substantially all the tangible and intangible assets and stock of the borrower and guarantors. Moody's expect liquidity will remain adequate over the next 12-15 months. Sources of liquidity include approximately $35 million of balance sheet cash as of September 30, 2024 and a $24 million revolver that matures in March 2027. Moody's expect annual free cash flow to be break-even or very limited. There are no financial maintenance covenants under the term loans. The revolving credit facility is subject to a springing net first lien leverage ratio of 7.35x when the amount drawn exceeds 35% of the revolving credit facility. Moody's do not expect that Aptos will utilize its revolver over the next 12-15 months and project that the company would remain in compliance with its financial covenant if it were tested. The negative outlook reflects Moody's expectations for flat revenue growth over the next 12-18 months, debt to EBITDA around 7.5x and limited free cash flow. The negative outlook also reflects Moody's concern that unless performance improves meaningfully, refinancing debt maturities could prove to be difficult. The outlook could be changed to stable if revenue growth increases, profit margins improve and free cash flow expands. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if the company is able to generate sustained revenue growth that increases its scale, if Moody's expect debt-to-EBITDA (Moody's Ratings adjusted) to remain consistently under 6.0x and free cash flow to debt improves and is expected to be sustained at 5% or more. The ratings could be downgraded if Aptos faces top-line and earnings pressure such that debt-to-EBITDA (Moody's Ratings adjusted) is sustained above 7.5x, or liquidity deteriorates, including increased revolver usage or an inability to sustain positive free cash flow generation. The principal methodology used in these ratings was Software published in June 2022. Aptos is a provider of retail software solutions including point of sale software for mid-market retail. Aptos is majority owned by Goldman Sachs Merchant Banking Division, with remaining shares held by management. Moody's expect the company to generate around $280 million of revenue for FY 2025. ASSETTA ENTERPRISES: Updates Brookline Bank Secured Claims Pay -------------------------------------------------------------- Assetta Enterprises, Inc., d/b/a Pini's Pizza, submitted a Second Amended Small Business Plan of Reorganization under Subchapter V dated January 15, 2025. On August 8, 2024, the Debtor filed a Motion to Use Cash Collateral which was allowed, authorizing the use of cash collateral in increments, extended to March 10, 2025. The only effected creditor is the Brookline Bank. The total for filed, scheduled, and expected general unsecured claims against the Debtor is approximately $987,600, including the loan deficiency on Brookline Bank's bifurcated claim and the claims of the other creditors that are being treated as unsecured based upon the value of their collateral. The sources of payments under the Plan will be available cash or working capital, and the cash flow from ongoing business operations. While the net cash flow may be insufficient to make payment distributions under the Plan for year 2024, considering the potential continued impact of the COVID-19 pandemic, the Debtor expects the business to have enough revenue to cover the operating business expenses, and other payments contemplated under the Plan going forward in 2025. Class 2 consists of the Secured Claim of Brookline Bank. In full and complete satisfaction, settlement, release and discharge of the Class 2 Claim, the holder of the Class 2 Claim shall capitalize all pre-petition and post-petition arrears and be paid at 9% over 5 years in equal monthly installments of $1,037.92, with a total secured claim of $50,000.00, plus interest. Payments shall commence 30 days from the effective date and be paid in equal monthly installments. The creditor shall retain the Lien up to $50,000.00 securing the Class 2 claim under the payment in full of the Allowed Class 2 Claim. After all plan payments are made, Brookline Bank will deliver to the Debtor all lien releases, in recordable form, which are necessary to discharge the creditor's lien against the Debtor's assets. Class 2 is impaired under the Plan. Like in the prior iteration of the Plan, each holder of the Allowed Class 3 General Unsecured Claim shall receive payment equal to a pro rata share of the cash distribution from the Debtor's Disposable Income at no less than six percent of their allowed claim. In addition, the Debtor will pay a pro rata share of any litigation recovery against the Pelrine Group that it receives, after administrative and tax payments are made attributable to the recovery. Any distribution to General Unsecured Creditors will be from amounts remaining from the Disposable Income, if any, after payment of: (i) the expenses of administering the Estate (to the extent of such additional expenses, before or after the Effective Date, not already included in the estimate for Administrative Expense Claims), (ii) the Administrative Expense Claims, (iii) the Priority Tax Claims (if any), (iv) the Other Priority Claims (if any), and (v) any other payment receiving priority or administrative expense treatment. Class 3 is impaired under the Plan. This Plan will be funded with available cash or working capital, and cash flow for ongoing business operations, any recovery that is not subsumed as administrative fees, and funds received as the payment of any award of damages from The Pelrine, LLC. No tax is expected on the recovery as the Debtor has significant tax carry forwards. The Debtor will continue to operate in the ordinary course of business. A full-text copy of the Second Amended Plan dated January 15, 2025 is available at https://urlcurt.com/u?l=qyCUiG from PacerMonitor.com at no charge. Counsel to the Debtor: Laurel E. Bretta, Esq. BRETTA LAW ADVISORS, P.C. 77 Mystic Avenue Medford, MA 02155 Telephone: (781) 395-1545 Facsimile: (781) 395-0012 E-mail: bglaw@lbretta.com About Assetta Enterprises Assetta Enterprises, Inc., operated a take-out and delivery pizza business. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Mass. Case No. 24-11594) on Aug. 7, 2024, with up to $50,000 in assets and up to $1 million in liabilities. Laurel E. Bretta, Esq. at Bretta Law Advisors, P.C., is the Debtor's bankruptcy counsel. ATI PHYSICAL: Finance VP Scott Rundell Appointed as Interim CFO --------------------------------------------------------------- ATI Physical Therapy, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that Mr. Scott Rundell, Vice President of Finance, has been appointed to serve as interim Chief Financial Officer (Interim CFO) of the Company, effective January 13, 2025. As previously disclosed, Mr. Joseph Jordan resigned from his position as the Chief Financial Officer of the Company, effective as of the end of business on January 10, 2025. Mr. Rundell, 39, has served as the Company's Vice President of Finance since October 2021, and previously served as the Company's Senior Director Analytics and Operations Finance since February 2021 and Director of Finance and Operations since March 2018. There is no arrangement or understanding between Mr. Rundell and any other person pursuant to which Mr. Rundell was selected as Interim CFO, and there are no family relationships between Mr. Rundell and any of the Company's directors or executive officers. There are no transactions involving Mr. Rundell that would require disclosure pursuant to Item 404(a) of Regulation S-K. At this time Mr. Rundell's compensation arrangements with the Company will not change in connection with his appointment as Interim CFO, other than being eligible for a monthly bonus in the amount of $18,125 for a period up to four months from the date of appointment. About ATI Physical Therapy Headquartered in Bolingbrook, Ill., ATI Physical Therapy, Inc., together with its subsidiaries, is a nationally recognized healthcare company specializing in outpatient rehabilitation and adjacent healthcare services. The Company provides outpatient physical therapy services under the name ATI Physical Therapy and, as of Dec. 31, 2023, had 896 clinics located in 24 states (as well as 18 clinics under management service agreements). Chicago, Ill.-based Deloitte and Touche LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated Feb. 27, 2024, citing that the Company has experienced recurring losses from operations and negative cash flows from operations and requires operational improvement in order to meet its obligations as they become due over the next 12 months and maintain compliance with debt covenants, which raises substantial doubt about its ability to continue as a going concern. As of September 30, 2024, ATI Physical Therapy had $967.3 million in total assets, $889.6 million in total liabilities, $238.9 million in mezzanine equity, and $161.1 million in total stockholders' deficit. ATLAS LITHIUM: Waratah Capital Holds 3.73% Equity Stake ------------------------------------------------------- Waratah Capital Advisors Ltd. disclosed in a Schedule 13G filing with the U.S. Securities and Exchange Commission that as of December 31, 2024, it beneficially owns 568,893 shares of Atlas Lithium Corporation's common stock, representing 3.73% of the 15,249,790 Common Shares outstanding as of December 31, 2024. About Atlas Lithium Headquartered in Minas Gerais, Brazil, Atlas Lithium Corporation -- www.atlas-lithium.com -- is a mineral exploration and development company with lithium projects and multiple lithium exploration properties. In addition, the Company owns exploration properties in other battery minerals, including nickel, copper, rare earths, graphite, and titanium. The Company's current focus is the development from exploration to active mining of its hard-rock lithium project located in the state of Minas Gerais in Brazil at a well-known lithium-bearing pegmatitic district, which has been denominated by the government of Minas Gerais as "Lithium Valley." The Company intends to mine and then process its lithium-containing ore to produce lithium concentrate (also known as spodumene concentrate), a key ingredient for the battery supply chain. Atlas Lithium reported a net loss of $42.63 million in 2023, a net loss of $5.66 million in 2022, and a net loss of $4.03 million in 2021. AUTO GLASS: Starts Subchapter V Bankruptcy Process in Arizona ------------------------------------------------------------- On January 16, 2025, Auto Glass 2020 LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the District of Arizona. According to court filing, the Debtor reports $3,669,218 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Auto Glass 2020 LLC Auto Glass 2020 LLC is a family-owned auto glass company serving Phoenix, AZ and surrounding areas. The Company specializes in a variety of services, including windshield replacement, rear window repair, side and power window repair, chip repair, window tinting, and ADAS calibration. The company's mobile service ensures that it comes directly to its customers' locations for windshield replacements and repairs. Auto Glass 2020 LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No.: 25-00374) on January 16, 2025. In its petition, the Debtor reports total assets of $797,330 and total liabilities of $3,669,218. Honorable Bankruptcy Judge Madeleine C. Wanslee handles the case. The Debtor is represented by Alan A. Meda, Esq., at BURCH & CRACCHIOLO, P.A., in Phoenix, Arizona. B. RILEY: Reports $433.8 Million Net Loss in Q2 FY24 ---------------------------------------------------- B. Riley Financial, Inc. filed with the U.S. Securities and Exchange Commission its Quarterly Report on Form 10-Q reporting a net loss of $433.8 million on $148.4 million of total revenues for the three months ended June 30, 2024, compared to a net income of $43.8 million on $406.3 million of total revenues for the three months ended June 30, 2023. For the six months ended June 30, 2024, the Company reported a net loss of $481.7 million on $491.4 million of total revenues, compared to a net income of $60.3 million on $838.4 million of total revenues for the same period in 2023. As of June 30, 2024, the Company had $3.2 billion in total assets, $3.4 billion in total liabilities, and $143.1 million in total deficit. A full-text copy of the Company's Form 10-Q is available at: https://tinyurl.com/4s7bymn3 About B. Riley Financial B. Riley Financial -- http://www.brileyfin.com/-- is a diversified financial services company that delivers tailored solutions to meet the strategic, operational, and capital needs of its clients and partners. B. Riley leverages cross-platform expertise to provide clients with full service, collaborative solutions at every stage of the business life cycle. Through its affiliated subsidiaries, B. Riley provides end-to-end financial services across investment banking, institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, operations management, risk and compliance, due diligence, forensic accounting, litigation support, appraisal and valuation, auction, and liquidation services. B. Riley opportunistically invests to benefit its shareholders, and certain affiliates originate and underwrite senior secured loans for asset-rich companies. BALANCE HOLDING: Hires Washington Global as Bankruptcy Counsel -------------------------------------------------------------- Balance Holding Company, LLC seeks approval from the U.S. Bankruptcy Court for the District of Columbia to hire Washington Global Law Group, PLLC to handle the Chapter 11 proceedings. The firm will charge $675 per hour for its services. The firm received a advance retainer in the amount of $30,000. Kermit Rosenberg, Esq., member of the Washington Global Law, assured the court that he and his are "disinterested persons" within the meaning of 11 U.S.C. Sec. 101(14). The firm can be reached through: Kermit A. Rosenberg, Esq. Washington Global Law Group. PLLC 1701 Pennsylvania Avenue, N.W., Suite 200 Washington, DC 20006 Telephone: (202) 683-2014 Facsimile: (202) 580-6559 E-Mail: krosenberg@washglobal-law.com About Balance Holding Company, LLC Balance Holding Company, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Colo. Case No. 24-00421) on Dec. 12, 2024, listing up to $50,000 in assets and $1,000,001 to $10 million in liabilities. Judge Elizabeth L Gunn presides over the case. Kermit A. Rosenberg, Esq. at Washington Global Law Group, PLLC represents the Debtor as counsel. BELLTOWN FARMS: Committee Taps Koley Jessen as Bankruptcy Counsel ----------------------------------------------------------------- The official committee of unsecured creditors of Belltown Farms GF Opco, LLC seeks approval from the U.S. Bankruptcy Court for the District of Nebraska to employ the law firm of Koley Jessen, P.C., L.L.O., as legal counsel. The firm will render these services: a. advise the Committee with respect to its rights, duties, and powers in this Chapter 11 case; b. assist and advise the Committee in its consultations with the Debtor and the Trustee relative to the administration of this Chapter 11 case; c. assist the Committee in analyzing the claims of the Debtor's creditors and the Debtor's assets and liabilities; d. assist the Committee in its investigation of the acts, conduct, assets, liabilities, and financial condition of the Debtor; e. assist and advise the Committee as to its communications to the general creditor body regarding significant matters in this Chapter 11 case; f. represent the Committee at all hearings and other proceedings; g. review and analyze applications, motions, complaints, orders, statements of operations, schedules and other filings with the Court and advise the Committee as to their propriety, and, to the event deemed appropriate by the Committee, support, join, or object thereto; h. advise and assist the Committee with respect to any legislative, regulatory, or governmental activities; i. prepare any pleadings, including, without limitation, applications, motions, memoranda, complaints, adversary complaints, objections, or comments in connection with any matter related to the Debtor or this Chapter 11 case; j. investigate and analyze any claims against the Debtor's affiliates; and k. perform such other legal services as may be required or are otherwise deemed to be in the interests of the Committee in accordance with the Committee's powers and duties as set forth in the Bankruptcy Code, Bankruptcy Rules, or other applicable law. The firm will charge for its legal services on an hourly basis in accordance with its ordinary and customary hourly rates. Donald Swanson, shareholder of the law firm Koley Jessen P.C., LLO, attests his firm is a "disinterested person" as that phrase is defined in section 101(14) of the Bankruptcy Code, as required by section 327(a) of the Bankruptcy Code, and does not hold or represent an interest adverse to the Debtors' estates. The Counsel can be reached through: Donald L. Swanson, Esq. KOLEY JESSEN, P.C., L.L.O 1125 S. 103rd St., Suite 800 Omaha, NE 68124 Tel: (402) 343-3883 Fax: (402) 390-9005 E-mail: don.swanson@koleyjessen.com About Belltown Farms GF Opco Belltown Farms GF Opco, LLC is engaged in the business of oilseed and grain farming. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Neb. Case No. 24-41171) on December 2, 2024. In the petition signed by Peter Tom Hill-Norton, authorized signatory, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Brian S. Kruse oversees the case. Patrick R. Turner, Esq., at Turner Legal Group, LLC, represents the Debtor as legal counsel. BIOMERICA INC: Posts $950,000 Net Loss for Quarter Ended Nov. 30 ---------------------------------------------------------------- Biomerica, Inc. filed with the U.S. Securities and Exchange Commission its Quarterly Report on Form 10-Q reporting a net loss of $950,000 on $1,636,000 of net sales for the three months ended November 30, 2024, compared to a net loss of $1,507,000 on $1,567,000 of net sales for the three months ended November 30, 2023. For the six months ended November 30, 2024, the Company reported a net loss of $2,266,000 on $3,444,000 of net sales, compared to a net loss of $2,639,000 on $3,281,000 of net sales for the same period in 2023. As of November 30, 2024, the Company had $7,274,000 in total assets, $2,160,000 in total liabilities, and $5,114,000 in total stockholders' equity. Biomerica's ability to continue as a going concern is influenced by several factors, including (i) the Company's need and ability to generate additional revenue from international opportunities and sales within the US of existing products, and from its new product launches; (ii) the Company's to access the capital and debt markets to meet current obligations and fund operations; (iii) the Company's capacity to manage operating expenses and maintain or increase gross margins as it grows; (iv) the Company's ability to retain key employees and maintain critical operations with a substantially reduced workforce; and (v) certain SEC regulations that limit the amount of capital the Company can raise through issuance of its equity. Management has analyzed the Company's cash flow requirements through February 2026 and beyond. Based on this analysis, the Company believes its current cash and cash equivalents are insufficient to meet its operating cash requirements and strategic growth objectives for the 12 months after the filing of the Quarterly Report. A full-text copy of the Company's Form 10-Q is available at: https://tinyurl.com/4skrwczx About Biomerica, Inc. Irvine, Calif.-based Biomerica, Inc. is a global biomedical technology company that develops, patents, manufactures and markets advanced diagnostic and therapeutic products. Its diagnostic test kits are utilized in the analysis of blood, urine, nasal, or fecal samples for the diagnosis of various diseases, food intolerances, and other medical conditions. Irvine, Calif.-based Haskell & White LLP, the Company's auditor since 2022, issued a "going concern" qualification in its report dated Aug. 28, 2024, citing that the Company has experienced recurring losses and negative cash flows from operations and has an accumulated deficit and limited liquid resources. These matters raise substantial doubt about the Company's ability to continue as a going concern. BIORA THERAPEUTICS: U.S. Trustee Appoints Creditors' Committee -------------------------------------------------------------- The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors in the Chapter 11 case of Biora Therapeutics, Inc. The committee members are: 1. Bio-Techne Corporation Attn: Terry L. Steen, Manager Bio-Techne Accounts Receivable 614 McKinley Place NE Minneapolis, MN 55413-2610 Email: terry.steen@bio-techne.com Phone: 612-379-2956 x-4009 2. The Bank of New York Mellon Trust Company, N.A. Attn: Alex T. Chang, Senior Vice President 240 Greenwich Street New York, NY 10286 Email: Alex.Chang@bny.com Phone: (212) 815-2816 3. Gilero Attn: Theodore J. Mosler, President 4319 S. Alston Ave., Ste. 100 Durham, NC 27713 Email: tmosler@gilero.com Phone: (919) 595-8228 4. Eurofins Advanta Laboratories Attn: Joe Page, Ph.D., President 5451 Oberlin Dr., Suite 100 San Diego, CA 92121 Email: Joe.Page@bpt.eurofinsus.com Phone: (858) 583-9365 5. Silverback Asset Management Attn: Joseph Ciampi, COO 1414 Raleigh Road, Suite 250 Chapel Hill, NC 27517 Email: jciampi@silverbackasset.com Phone: (919) 969-9300 Official creditors' committees serve as fiduciaries to the general population of creditors they represent. They may investigate the debtor's business and financial affairs. Committees have the right to employ legal counsel, accountants and financial advisors at a debtor's expense. About Biora Therapeutics Inc. Biora Therapeutics Inc. creates innovative smart pills designed for targeted drug delivery to the GI tract and systemic, needle-free delivery of biotherapeutics. It develops therapies to improve patients' lives. Biora Therapeutics Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 24-12849) on December 27, 2024. In its petition, the Debtor reports estimated assets between $10 million and $50 million and estimated liabilities between $100 million and $500 million. Honorable Bankruptcy Judge Brendan Linehan Shannon handles the case. The Debtor tapped McDermott Will & Emery LLP as counsel, MTS Health Partners as investment banker, and Kroll Restructuring Administration LLC as administrative advisor. Evora Partners, LLC is also tapped to provide the Debtor with a chief transition officer (CTO) and certain additional personnel. BLUM HOLDINGS: Enters Term Sheet for Acquisition of Mesh Ventures ----------------------------------------------------------------- Blum Holdings, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that on January 8, 2025, it entered into a binding term sheet with Mesh Ventures, LLC pursuant to which the Company intends to negotiate and enter into a Merger Agreement or Share Exchange Agreement or similarly situated document for the Company's acquisition of 100% of the membership interests of Mesh. Upon closing of the Transaction, the Company shall pay $359,610 in cash to Mesh to pay agreed upon debts and liabilities and shall issue 4,531,965 shares of Common Stock of the Company to the various holders of the membership interests of Mesh. The Company shall also issue to the Sellers warrants to purchase, in the aggregate, up to 471,989 shares of Common Stock, at an exercise price of $0.64 per share. The aggregate value exchanged is expected to equal to $8,990,261. The Transaction structure is yet to be determined based on the due diligence findings as well as business, legal, tax, accounting and other considerations. Each of the parties' obligations to close the Transaction will be subject to customary conditions and other conditions agreed to by the parties to be included in the definitive agreements for the Transaction, including but not limited to the receipt of all necessary approvals and consents required by each party to complete the Transaction. No assurances can be made that the Company will be successful in completing the Transaction. About Mesh Ventures Founded in 2017, Mesh Ventures, LLC is a venture capital investment firm based in Sausalito, California that seeks to make investments in the cannabis industry and holds a significant investment in Cookies Creative Productions & Consulting, Inc. Douglas Rosenberg is the Co-Founder and CEO of Mesh Ventures. The Company has an Unsecured Promissory Note dated December 31, 2024 in the principal amount of $800,000 with Mr. Rosenberg. Blum partners with Cookies to participate in events such as Hall of Flowers and the Emerald Cup. Sabas Carrillo, the CEO of Blum, served as Chief Financial Officer of Cookies from 2018 to 2020. Sabas is also a Co-Founder, Board Member and CFO at Mesh Ventures, and a General Partner and Limited Partner at both Mesh Ventures and 1212 Ventures. About Blum Holdings Blum Holdings, Inc., headquartered in Santa Ana, California, is a cannabis company engaged in retail and distribution across California. The company focuses on providing high-quality medical and adult-use cannabis products and is known for its Korova brand, which offers high-potency products in various categories. Blum Holdings operates several dispensaries, including Blum OC in Orange County, and locations under The Spot and Blum brands in Santa Ana, Oakland, and San Leandro. Costa Mesa, California-based Marcum LLP, the company's auditor since 2018, issued a "going concern" qualification in its report dated April 15, 2024. The report indicated a significant working capital deficiency, substantial losses, and the need for additional funds to meet obligations and sustain operations, raising substantial doubt about Blum Holdings' ability to continue as a going concern. As of September 30, 2024, Blum Holdings had $38.7 million in total assets, $66.2 million in total liabilities, and $27.5 million in total mezzanine equity and stockholders' deficit. BOOKS INC: Case Summary & 20 Largest Unsecured Creditors -------------------------------------------------------- Debtor: Books Inc. 2483 Washington Ave. San Leandro CA 94577 Business Description: The Company, founded in 1851 during the California Gold Rush, is the oldest independently owned bookstore in the western United States and operates eleven brick-and- mortar stores in the Bay Area. In addition to its physical locations, the Company runs an online store, offering a mix of direct shipping and in-store pickup for customers. The Company also fosters strong community engagement, hosting hundreds of author events, book clubs, and other activities each year. Chapter 11 Petition Date: January 20, 2025 Court: United States Bankruptcy Court Northern District of California Case No.: 25-40087 Judge: Hon. William J Lafferty Debtor's Counsel: Stephen Finestone, Esq. FINESTONE HAYES LLP 456 Montgomery St San Francisco CA 94104 Tel: (415) 421-2624 E-mail: sfinestone@fhlawllp.com Total Assets: $3,283,300 Total Liabilities: $5,161,574 The petition was signed by Andrew Perham as CEO. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/FSEB5TA/Books_Inc__canbke-25-40087__0001.0.pdf?mcid=tGE4TAMA BRC CAPITAL: Files Chapter 11 Bankruptcy in Illinois ---------------------------------------------------- On January 20, 2025, BRC Capital LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Illinois. According to court filing, the Debtor reports between $100,000 and $500,000 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About BRC Capital LLC BRC Capital LLC is a single asset real estate company based in Flossmoor, Illinois. BRC Capital LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill.Case No. 25-00789) on January 20, 2025. In its petition, the Debtor reports estimated assets between $500,000 and $1 million and estimated liabilities between $100,000 and $500,000. Honorable Bankruptcy Judge Deborah L. Thorne handles the case. The Debtor is represented by: Konstantine T. Sparagis, Esq. Law Offices of Konstantine Sparagis PC 900 W. Jackson Blvd., Ste. 4E Chicago, IL 60607 Phone: 312-753-6956 Fax: 866-333-1840 CANOO INC: Shares Drop 75% After Chapter 7 Bankruptcy Filing ------------------------------------------------------------ Claudio Afonso of EV reports that shares of electric vehicle startup Canoo dropped more than 75% to 25 cents on January 21 pre-market session following the company's Chapter 7 bankruptcy filing last Friday, January 17, 2025. According to the report, with the Texas-based company ceasing operations, a bankruptcy trustee will oversee the liquidation of its assets and the distribution of proceeds to creditors. In mid-December, Canoo announced the closure of its Oklahoma factories while working to secure the necessary capital to continue its operations, the report states. As reported by EV in early December, Canoo, led by Tony Aquila, seemed to be heading toward bankruptcy. Over the past year, the company missed production targets, provided no updates on various partnerships, lost multiple executives (including co-founders), and faced lawsuits from suppliers over unpaid debts. Over the last 12 months, Canoo's stock has dropped more than 99% in value. In early November 2024, Canoo reported having just $700,000 in cash and cash equivalents, followed by three rounds of 12-week furloughs that affected most of its staff, according to EV. The company posted third-quarter revenue of $900,000, far below its previous forecast of $50 million to $100 million in annual revenue. However, in September, Canoo withdrew its 2024 revenue guidance, along with projections for manufacturing, vehicle production, and deliveries for 2024 and beyond, the report relays. In a final attempt to stabilize, Canoo's management sought "financial support" from the U.S. Department of Energy's Loan Program Office. Unfortunately, the company stated in its Friday announcement that it was unable to secure the assistance. About Canoo Inc. Torrance, California-based Canoo Inc. -- http://www.canoo.com/-- is a high tech advanced mobility technology company with a proprietary modular electric vehicle platform and connected services initially focused on commercial fleet, government and military customers. The Company has developed a breakthrough EV platform that it believes will enable it to rapidly innovate, iterate and bring new products, addressing multiple use cases, to market faster than its competition and at lower cost. Canoo Inc. sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10094) on January 17, 2025. Honorable Bankruptcy Judge Brendan Linehan Shannon handles the case. The Debtor is represented by: Robert Alan Weber, Esq. Chipman Brown Cicero & Cole, LLP 1313 N. Market Street, Suite 5400 Wilmington, DE 19801 Phone: 302-295-0196 Email: Weber@ChipmanBrown.com CAPSTONE COMPANIES: Appoints Warner Session as Independent Director ------------------------------------------------------------------- Capstone Companies, Inc. announced the appointment of Warner H. Session as an independent director effective January 9, 2025. Mr. Session is the principal of Session Law Firm, P.C., a Washington, D.C. law firm. Since 1991, he practiced government relations/lobbying, government contracting and procurement, small and minority business development, real estate transactions and business formations. He has represented national trade associations before Congress. He is a former board member of the Board of Directors for the Metropolitan Washington Airports Authority, which has oversight of Dulles International Airport and Ronald Reagan Washington National Airport. Mr. Session was a member of District of Columbia trade mission to Canada. Prior to private law practice, he worked in the U.S. House of Representatives as Staff Director and Counsel to the Government Activities and Transportation Subcommittee and he served as Staff Attorney to the Judiciary Committee for the DC Council, where he drafted legislation on matters affecting multiple executive agencies. Mr. Session is a Trustee of the University of the District of Columbia. A graduate of Stanford University with a Bachelor of Arts in Political Science, he received his Juris Doctorate from the Georgetown University Law Center and is licensed to practice law in the District of Columbia. "Warner brings valuable experience in business and commercial real estate development and government relations to Capstone Companies' efforts to build a new business focused on year-round social, athletic, and fitness programs that appeal to children, adults and families," said Stewart Wallach, Chair of the Company's Board of Directors. "His experience in helping business achieve results in commercial real estate development and government assistance in business development complements the operational experience of our new Chief Executive Officer in the proposed year-round social, athletic, and fitness business," added Mr. Wallach. Mr. Session said, "I look forward to the challenge and potential of Capstone Companies as a company seeking to develop a new business line that fosters individual fitness and social and emotional enhancement as well as aiding local community development." In connection with Mr. Session's appointment, him and the Company signed an Offer Letter, dated January 9, 2025, for his appointment as a director. The Offer Letter is available at: https://tinyurl.com/2rh3yk8r About Capstone Companies Inc. Deerfield Beach, Fla.-based Capstone Companies, Inc. is a public holding company organized under the laws of the State of Florida. The Company is a designer, manufacturer and marketer of consumer products that are designed to simplify daily living through technology. Margate, Fla.-based Assurance Dimensions, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 29, 2024, citing that the Company has incurred recurring operating losses, has incurred negative cash flows from operations and has an accumulated deficit. These and other factors raise substantial doubt about the Company's ability to continue as a going concern. As of September 30, 2024, Capstone Companies had $1,378,848 in total assets, $4,102,475 in total liabilities, and $2,723,627 in total stockholders' deficit. CAPSTONE COMPANIES: Appoints Warner Session as Independent Director ------------------------------------------------------------------- Capstone Companies, Inc., announced the appointment of Warner H. Session as an independent director, effective Jan. 9, 2025, to fill an existing vacancy. Mr. Session is the principal of Session Law Firm, P.C., a Washington, D.C. law firm. Since 1991, he practiced government relations/lobbying, government contracting and procurement, small and minority business development, real estate transactions and business formations. He has represented national trade associations before Congress. He is a former board member of the Board of Directors for the Metropolitan Washington Airports Authority, which has oversight of Dulles International Airport and Ronald Reagan Washington National Airport. Mr. Session was a member of District of Columbia trade mission to Canada. Prior to private law practice, he worked in the U.S. House of Representatives as Staff Director and Counsel to the Government Activities and Transportation Subcommittee and he served as Staff Attorney to the Judiciary Committee for the DC Council, where he drafted legislation on matters affecting multiple executive agencies. Mr. Session is a Trustee of the University of the District of Columbia. A graduate of Stanford University with a Bachelor of Arts in Political Science, he received his Juris Doctorate from the Georgetown University Law Center and is licensed to practice law in the District of Columbia. "Warner brings valuable experience in business and commercial real estate development and government relations to Capstone Companies' efforts to build a new business focused on year-round social, athletic, and fitness programs that appeal to children, adults and families," said Stewart Wallach, Chair of the Company's Board of Directors. "His experience in helping business achieve results in commercial real estate development and government assistance in business development complements the operational experience of our new Chief Executive Officer in the proposed year-round social, athletic, and fitness business," added Mr. Wallach. Mr. Session said, "I look forward to the challenge and potential of Capstone Companies as a company seeking to develop a new business line that fosters individual fitness and social and emotional enhancement as well as aiding local community development." About Capstone Companies Capstone Companies, Inc. is an SEC reporting company with its common stock quoted on OTC QB market. Formerly engaged in producing LED and Smart Mirror consumer products, Company ended its consumer product operations due to declining sales and has been seeking to establish a new business line and revenue generating operations through internal development, merger, acquisition or a combination of those actions. The Company currently has no revenue generating operations. The appointment of a new CEO and appointment of directors is part of the Company's efforts to establish revenue generating operations by bringing in new management members with experience in industries other than the Company's former industry as well as a proven ability to build, fund or assist in creating sustainable, new business lines. Margate, Fla.-based Assurance Dimensions, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 29, 2024, citing that the Company has incurred recurring operating losses, has incurred negative cash flows from operations and has an accumulated deficit. These and other factors raise substantial doubt about the Company's ability to continue as a going concern. CASA GARCIA: Starts Subchapter V Bankruptcy in West Virginia ------------------------------------------------------------ On January 20, 2025, Casa Garcia's Co. filed Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of West Virginia. According to court filing, the Debtor reports between $100,000 and $500,000 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Casa Garcia's Co. Casa Garcia's Co. is a restaurant operator located at Riverwalk Plaza in South Charleston, West Virginia. Casa Garcia's Co. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.W. Va. Case No. 25-20007) on January 20, 2025. In its petition, the Debtor reports estimated assets between $50,000 and $100,000 and estimated liabilities between $100,000 and $500,000. The Debtor is represented by: Andrew S. Nason, Esq. Pepper & Nason 8 Hale Street Charleston, WV 25301 Phone: 304-346-0361 Fax: 304-346-1054 CCC INTELLIGENT: Files Registration Statement --------------------------------------------- CCC Intelligent Solutions Holdings Inc. filed with the U.S. Securities and Exchange Commission a registration statement relating to the proposed resale of up to 26,035,603 shares of common stock of the Company. The Company is represented by: Ross M. Leff, P.C., Esq. Kirkland & Ellis LLP 601 Lexington Avenue New York, New York 10022 Tel: (212) 446-4800 Email: ross.leff@kirkland.com A full-text copy of the Registration Statement is available at https://urlcurt.com/u?l=tO77Sv About CCC Intelligent Solutions Headquartered in Chicago, Illinois, CCC Intelligent Solutions Holdings Inc. develops, markets and supplies a variety of software services that enable automobile insurance companies, collision repair facilities, independent appraisers, parts suppliers and automobile dealers to manage the automobile claim and restoration process. It is a public company that is controlled by private equity sponsor Advent International. Its wholly-owned subsidiary is CCC Intelligent Solutions Inc., the borrower of the debt. Revenue for the twelve months ended Sept. 30, 2024 was $927 million. * * * The Troubled Company Reporter on January 17, 2025, reported that Moody's Ratings affirmed CCC Intelligent Solutions Holdings Inc.'s (collectively with CCC Intelligent Solutions Inc., referred to as "CCC") corporate family rating at B1 and probability of default rating at B1-PD. The rating for CCC Intelligent Solutions Inc.'s senior secured first lien bank credit facilities was also affirmed at B1. Moody's also assigned a B1 rating to CCC Intelligent Solutions Inc.'s new senior secured first lien term loan. The outlook for CCC Intelligent Solutions Holdings Inc. was changed to positive from stable. The outlook for CCC Intelligent Solutions Inc. is positive. The company's SGL speculative grade liquidity score remains unchanged at SGL-1. CENTURY MINING: Updates Unsecured Claims Pay; Files Amended Plan ---------------------------------------------------------------- Century Mining, LLC d/b/a Allegheny Metallurgical, submitted a First Amended Disclosure Statement for the First Amended Plan of Reorganization dated January 16, 2025. The Plan represents a comprehensive financial restructuring of the Debtor (the "Restructuring") and provides much needed funding with which the Debtor can ultimately restart longwall operations, with the goal of ensuring the Debtor's continued existence as a successful and profitable metallurgical coal mining operation. The Plan is also value-maximizing for the Debtor's stakeholders. Among other things, the Plan: * Proposes to pay all Holders of Claims in full or otherwise reinstate their Claims; * provides for a $150 million New Equity Investment through a Rights Offering; * provides for a new senior secured exit facility in an aggregate amount not to exceed $150 million; and * contemplates the Reorganized Debtor's entry into the New Operating Agreement, with amended corporate governance and voting rights to ensure that the Reorganized Debtor will not be jeopardized in the future by further deadlocks among its members of the nature that occurred following the fire at the Mine. Class 4 consists of General Unsecured Claims. Each Holder of an Allowed General Unsecured Claim shall receive payment in full, in Cash, on the Effective Date, to the extent such Allowed General Unsecured Claim is due and payable as of the Effective Date. All Allowed General Unsecured Claims which are not yet due and payable as of the Effective Date shall be reinstated and paid in full in the ordinary course of business. Notwithstanding anything to the contrary in the Plan, the Plan Supplement, or Confirmation Order, nothing in the Plan, the Plan Supplement, or Confirmation Order shall amend, alter, modify, or otherwise impair the legal, equitable, and contractual rights to which such general unsecured claim entitles the holder of such general unsecured claim. This Class will receive a distribution of 100% of their allowed claims. The Existing Equity Interests shall be retained by the Existing Equity Interest Holder, but shall be converted to non-voting, Class B Equity Interests in connection with the New Operating Agreement. The Class B Equity Interests, after giving effect to the Rights Offering, shall constitute 10% of the pro forma equity in the Reorganized Debtor. On the Effective Date, in connection with the Rights Offering, the Existing Equity Interest Holder, as the Eligible Offeree, shall have the exclusive, nontransferable right to acquire 100% but not less than 100% of the New Equity Interests in exchange for the New Equity Investment. Following the Bankruptcy Court's approval of the Rights Offering Procedures, Reorganized Debtor will consummate the Rights Offering by which it will obtain the $150 million New Equity Investment. Following such approval, the Rights Offering will be conducted, and the New Equity Interests will be made available to Eligible Offerees and issued pursuant to the Rights Offering Procedures. The Rights Offering is fully backstopped by the Backstop Parties pursuant to the Equity Commitment Agreement, and the consummation of the Rights Offering is conditioned on the consummation of the Plan. The Plan provides for the Debtor's entry into a new senior secured credit facility in an aggregate amount of up to $150 million (the "Exit Facility"). A full-text copy of the First Amended Disclosure Statement dated January 16, 2025 is available at https://urlcurt.com/u?l=iDkAvF from PacerMonitor.com at no charge. Counsel to the Debtor: Campbell & Levine, LLC Paul J. Cordaro, Esq. Kathryn L. Harrison, Esq. 310 Grant St., Suite 1700 Pittsburgh, PA 15219 Tel: (412) 261-0310 Fax: (412) 261-5066 Email: pcordaro@camlev.com kharrison@camlev.com Local Counsel to the Debtor: Joe M. Supple, Esq. Supple Law Office, PLLC 801 Viand Street Point Pleasant, WV 25550 Telephone: (304) 675-6249 Facsimile: (304) 675-4372 About Century Mining LLC Century Mining LLC, doing as Allegheny Metallurgical, produces metallurgical coal that is used by steel manufacturers around the globe. Century Mining LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. W. Va. Case No. 24-00598) on Nov. 22, 2024. In the petition filed by Keith Hainer, president, the Debtor disclosed between $50 million and $100 million in both assets and liabilities. Judge David L. Bissett oversees the case. The Debtor tapped Campbell & Levine, LLC as bankruptcy counsel; Supple Law Office, PLLC as local counsel; and MorrisAnderson & Associates, Ltd. as restructuring advisor. CHESTER COUNTY IDA: Moody's Alters Outlook on 'Ba2' Rating to Pos. ------------------------------------------------------------------ Moody's Ratings has changed the outlook of Chester County Industrial Development Authority's (PA) Student Housing Revenue Bonds (University Student Housing, LLC Project at West Chester University of Pennsylvania), Series 2013A to positive from stable and affirmed Ba2 rating. Approximately $22.98M of Series 2013A bonds remains outstanding. The outlook change to positive from stable is largely driven by project's continued improving operating performance after a period of low occupancy and financial volatility. Following significant contraction of financial flexibility resulting from housing shut down in 2020/2021 academic year, the project returned to pre-COVID occupancy levels of above 100% as of the fall 2022 semester, and maintained that level as of the fall 2024 semester. However, the debt service reserve fund for the unrated parity Series 2021 C-2 bonds remained underfunded by approximately $822k as of October 1, 2024, which will diminish the project's ability to absorb potential future net revenue shortfalls. Offsetting this risk is Moody's projection of continued sound operating performance driven by strong demand for the project, coupled with continued replenishment of the Series 2021 C-2 debt service reserve account. USH currently maintains an unrestricted cash position in excess of the reserve requirement. RATINGS RATIONALE The affirmation of USH Series 2013A Ba2 rating is supported by continued sound operating performance at the project, resulting in Moody's adjusted 1.70x debt service coverage in FY 2024. Occupancy remained above 100%, even with moderate rental rate increases. Despite currently favorable strategic and operating coordination (including subordination of some expenses) between the West Chester University and the project owner (University Student Housing, LLC/West Chester University Foundation), track record of limited support provided by the university and PASSHE during COVID-related housing restrictions remains a credit weakness. RATING OUTLOOK The positive outlook reflects Moody's expectation that project's operating performance will remain stable in the near to medium term, including debt service coverage above 1.50x, given strong student demand for the Commonwealth Hall facility. It also reflects expectation of continued funding of the Series 2021 C-2 debt service reserve, which will provide additional liquidity in an event of revenue shortfalls. FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATING -- Continued strong project operating performance in the medium term, resulting in debt service coverage between 1.20x and 1.99x -- Sustained strong student demand, resulting in occupancy above 95% -- Ongoing replenishment of the Series 2021 C-2 debt service reserve fund coupled with factors above FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATING -- Sharp decline in operating performance due to revenue shortfalls associated with diminished student demand or escalation of operating expenses, resulting in debt service coverage below 1.20x -- Inadequate net revenues to support ongoing replenishment of the Series 2021 C-2 debt service reserve fund LEGAL SECURITY The bonds are secured by project revenues consisting primarily of housing rental charges. The bond trustee has a security interest in various funds, such as the Bond Fund, Debt Service Reserve Fund, and the Repair and Replacement Fund, as provided by the Indenture. PROFILE University Student Housing, LLC, is a Section 501(c)(3) limited liability company whose sole member is West Chester University Foundation (the "Foundation"). The company is governed by a Board of Managers that consists of no fewer than 15, and up to 39, members who serve by virtue of their positions as Trustees of the Foundation. The Foundation's Board of Trustees consists of five members who serve by virtue of their respective positions within the University. USH owns six on-campus residence halls at West Chester University, inclusive of Commonwealth Hall. METHODOLOGY The principal methodology used in these ratings was Global Housing Projects published in August 2024. CLIPPER ACQUISITIONS: Moody's Gives Ba1 CFR & Alters Outlook to Neg ------------------------------------------------------------------- Moody's Ratings has downgraded the senior secured term loan rating of Clipper Acquisitions Corp's (d/b/a TCW) to Ba1 from Baa3. Because issuer ratings are typically assigned to investment grade companies and corporate family ratings to non-investment grade, Moody's have withdrawn TCW's Baa3 issuer rating and assigned a Ba1 long-term corporate family rating and a Ba1-PD probability of default rating to TCW. The outlook was changed back to stable from negative. RATINGS RATIONALE The downgrade of TCW's rating to Ba1 reflects its significant decline in operating performance in recent years. After 10 years of consistent net inflows through 2021, the company has had $47.8 billion (18%) in net outflows since 2021 due to performance issues and the impact of changes in the lead portfolio managers, especially in fixed income. The net outflows were exacerbated by market impacts which lead to lower earnings and a lower margin which was 10.9% as of Q3 2024 and formerly in the mid-20% range. Finally, the departure of several senior executives gave rise to the repurchase note obligations that were used to acquire equity units from the departing executives. As a result of all these factors, leverage increased to 6.0x as of Q3 2024 from 2.5x at year-end 2021. These pressures on the credit ratings were substantially mitigated by a material, credit positive, capital restructuring facilitated by its minority owner, Nippon Life Americas, Inc., a wholly owned subsidiary of Nippon Life Insurance Company (Nippon: A1 Insurance Financial Strength). TCW issued $300 million to Nippon that will be used to pay down its term loan in January 2025 to approximately $260 million and $250 million in convertible notes which was used, in part, to repay all the repurchase notes. Nippon's support via its $550 million investment in TCW's preferred and convertible notes has reduced leverage to 2.7x as of Q3 2024 on a proforma basis. Despite the vastly improved leverage, the net outflows and the resulting earnings trend and lower pre-tax income margin are more consistent with a Ba1 rating. For example, the last twelve months EBITDA as of Q3 2024 was $135 million compared to $261 million as recently as 2021. Moody's expect earnings to remain pressured through 2025 at least. The change in outlook to stable from negative reflects the actions by Nippon and TCW management to further bolster the credit profile. Beyond Nippon's investments in the convertible notes and preferreds, the company has invested more than $12 billion in TCW funds with a new commitment to invest $3.25 billion in TCW's burgeoning private credit offerings. In addition, Moody's note that the new management team has made a number of transactions to increase diversification including the acquisition of an ETF platform, the creation of a private asset backed finance team, an expansion of its CLO platform and a direct lending partnership with PNC Financial Services Group, Inc. (A3 negative). These transactions are credit positive but are unlikely to have a material impact on earnings until 2026 at the earliest. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded under the following conditions: (1) A significant improvement in fixed income flows as well as a notable growth in private asset; (2) Moody's adjusted debt-to-EBITDA is sustained below 3.0x; 2) the pre-tax margin improves to above 20%; (3) Nippon becomes a majority owner (it currently owns approximately 27%), in which case, Nippon's implicit support could be reflected in the ratings. Factors that could lead to a downgrade include: (1) Moody's adjusted debt-to-EBITDA is sustained above 4.0 x; (2) a further decline in fixed income valuations and/or sustained net outflows; (3) an acquisition that increases leverage or otherwise adversely impacts TCW's credit profile. The principal methodology used in these ratings was Asset Managers published in May 2024. The TCW Group, Inc. is a private independent investment manager. Founded in 1971 and based in Los Angeles, TCW is primarily a fixed income manager but also offers US equities, international and alternative strategies with approximately $203 billion in AUM as of September 30, 2024. CLOUTER CREEK: Hires Penn Law Firm LLC as Bankruptcy Counsel ------------------------------------------------------------ Clouter Creek Reserve LLC seeks approval from the U.S. Bankruptcy Court for the District of South Carolina to employ Penn Law Firm, LLC as bankruptcy counsel. The firm's services include: a. advising Debtor of its rights, powers and duties; b. attending meetings with Debtor and hearings before the Court; c. assisting other professionals retained by Debtor in the investigation of the acts, conduct, assets, liabilities and financial condition of Debtor, and any other matters relevant to the case or to the formulation of a plan of reorganization or liquidation; d. investigating the validity, extent, and priority of secured claims against Debtor's estate, and investigating the acts and conduct of such secured creditors and other parties to determine whether any causes of action may exist; e. advising Debtor with regard to the preparation and filing of all necessary and appropriate applications, motions, pleadings, draft orders, notices, schedules, and other documents, and reviewing all financial and other reports to be filed in these matters; f. advising Debtor with regard to the preparation and filing of responses to applications, motions, pleadings, notices and other papers that may be filed and served in these chapter 11 cases by other parties; and g. performing other necessary legal services for and on behalf of Debtor that may be necessary or appropriate in the administration of these chapter 11 cases. The firm will be paid at these rates: Attorneys $250 to $400 per hour Paralegals and Assistants $100 to $175 per hour W. Harrison Penn, Attorne $400 per hour per hour The firm received from the Debtor a retainer in the amount of $20,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. W. Harrison Penn, Esq., a partner at Penn Law Firm, LLC, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: W. Harrison Penn, Esq. PENN LAW FIRM, LLC 1517 Laurel Street Columbia, SC 29201 Tel: (803) 771-8836 Email: hpenn@pennlawsc.com About Clouter Creek Reserve LLC Clouter Creek Reserve LLC formerly known as IVO SANDS, LLC, is a single asset real estate entity based in Charleston, South Carolina. Clouter Creek Reserve LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.S.C. Case No. 25-00034) on January 6, 2025. In its petition, the Debtor reports estimated assets between $10 million and $50 million and liabilities between $1 million and $10 million. Penn Law Firm LLC represents the Debtor as counsel. COMMERCIAL FURNITURE: Taps Elevated HR Consulting as Consultant --------------------------------------------------------------- Commercial Furniture Services, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Tennessee to temporarily expand the services Elevated HR Consulting. The firm is to assist the Debtor with essential financial management tasks necessary for the administration of this Reorganization Case. The firm's expanded tasks include: a. maintaining and reconciling financial records as needed during the transition period; b. compiling financial data necessary for the preparation and submission of the Plan; c. assisting in preparing and submitting monthly operating reports as required by the U.S. Trustee; and d. training the new bookkeeper to ensure a seamless transition of financial management responsibilities. The firm will bill for these expanded services at an hourly rate of $125, separate and apart from its human resource related compensation. Elevated HR Consulting is a "disinterested person" as that term is defined in 11 U.S.C. 101(14), according to court filings. The firm can be reached through: Cynthia Jenkins Elevated HR Consulting McDonough, GA Tel: (678) 588-5992 About Commercial Furniture Services Commercial Furniture Services, LLC offers office furniture installation, asset management (safe storage) and logistics services. Commercial Furniture Services filed its voluntary petition for Chapter 11 protection (Bankr. E.D. Tenn. Case No. 24-12642) on Oct. 18, 2024. In the petition signed by Jim McMenimen, co-managing member, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Wright, Cortesi & Gilbreath serves as the Debtor's counsel. CONNEXA SPORTS: Enters $11.3MM Stock Sale Agreement With A.G.P. --------------------------------------------------------------- Connexa Sports Technologies Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that it entered into a sales agreement with A.G.P./Alliance Global Partners, pursuant to which the Company may sell from time to time, at its option, shares of the Company's common stock through or to the Agent, as sales agent or principal. The issuance and sale, if any, of shares of the Company's common stock under the Sales Agreement will be pursuant to the Company's registration statement on Form S-3 (File No. 333- 279880), filed with the Securities and Exchange Commission on January 8, 2025 and are described in detail in the related base prospectus and prospectus supplement included as part of the Registration Statement. In accordance with the terms of the Sales Agreement, under the prospectus supplement, the Company may offer and sell shares of its common stock having an aggregate offering price of up to $11,347,850 from time to time through or to the Agent. The sale, if any, of shares of the Company's common stock under the Sales Agreement will be made by any method permitted that is deemed to be an "at-the-market" equity offering as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended, including sales made directly on the Nasdaq Capital Market or any other trading market for the Company's common stock. Subject to the terms and conditions of the Sales Agreement, the Agent will use commercially reasonable efforts to sell the shares of the Company's common stock from time to time, based on the Company's instructions. The compensation payable to the Agent as sales agent shall be 3% of the gross proceeds from each sale of the shares through or to the Agent pursuant to the Sales Agreement. In addition, the Company will reimburse the Agent for certain out-of-pocket costs and expenses incurred in connection with the Sales Agreement in an amount not to exceed $50,000 and up to an additional $20,000 per fiscal year for maintenance, and the Company has agreed in the Sales Agreement to provide indemnification and contribution to the Agent against certain liabilities, including liabilities under the Securities Act. The Company is not obligated to make any sales of shares of common stock under the Sales Agreement. The Sales Agreement shall automatically terminate upon the earlier to occur of: (i) issuance and sale of all of the common stock having an aggregate offering price of up to $11,347,850 to or through the Sales Agent, and (ii) the expiration of the Registration Statement on the third anniversary of the initial effective date of the Registration Statement pursuant to Rule 415(a)(5) under the Securities Act, unless earlier terminated upon: (a) the election of the Agent upon the occurrence of certain adverse events, (b) five days' advance notice from the Company to the Agent or five days' advance notice from the Agent to the Company or (c) otherwise by mutual agreement of the parties pursuant to the terms of the Sales Agreement. A full-text copy of the Sales Agreement is available at: https://tinyurl.com/3n62x649 About Connexa Sports Headquartered in Windsor Mill, Maryland, Connexa Sports Technologies Inc. -- www.connexasports.com -- is a connected sports company delivering products, technologies, and services across a range of activities in sports. Connexa's mission is to reinvent sports through technological innovation driven by an unwavering focus on today's sports consumer. Connexa reported $21,583,761 in total assets, $13,542,980 in total liabilities, and $8,040,781 in total stockholders' equity as of October 31, 2024. Lagos, Nigeria-based Olayinka Oyebola & Co., the Company's former auditor 2023, issued a "going concern" qualification in its report dated July 24, 2024, citing that the Company suffered an accumulated deficit of $(167,387,028), net loss of $(15,636,418), and decline in net sales. These matters raise substantial doubt about the Company's ability to continue as a going concern. On October 30, 2024, the Board of Directors and the audit committee of the Company approved the engagement of Bush & Associates CPA as the Company's independent registered public accounting firm for the fiscal year ended April 30, 2025, effective immediately, and dismissed Olayinka Oyebola & Co as the Company's independent registered public accounting firm. The reason for the dismissal of OOC and the engagement of B&A is that due to the charges brought by the U.S. Securities and Exchange Commission against OOC for allegedly aiding and abetting a securities fraud, the risk of continuing with OOC as the Company's auditor is no longer tolerable to the Company. CORE NATURAL: Moody's Affirms 'B1' CFR & Alters Outlook to Positive ------------------------------------------------------------------- Moody's Ratings affirmed Core Natural Resources, Inc.'s ("Core", fka CONSOL Energy Inc.) B1 Corporate Family Rating, and B1-PD Probability of Default Rating following its merger with Arch Resources, Inc. ("Arch"). The Ba3 rating on Core's existing backed senior secured revolving credit facility, which was amended and extended, has been withdrawn. The rating on the backed solid waste disposal revenue bonds issued by Pennsylvania Economic Dev. Fin. Auth. was affirmed at B2. At the same time, Moody's have withdrawn Arch's B1 CFR, B1-PD PDR, and SGL-1 speculative grade liquidity rating ("SGL"). The B2 ratings on Arch's senior secured revenue bonds issued by West Virginia Economic Development Authority have been withdrawn. Arch's stable outlook has been withdrawn. Core's SGL-2 rating is unchanged. The rating outlook for Core has been changed to positive from stable. RATINGS RATIONALE On January 14, CONSOL Energy Inc. ("CONSOL") closed the previously announced merger with Arch, with CONSOL being the surviving entity, and Arch becoming a wholly owned subsidiary. The combined company was renamed as Core Natural Resources, Inc. The change of Core's outlook to positive reflects: (1) improvement in scale and diversification following the merger with Arch, (2) improved optionality as a result of ownership interest in two export terminals on the US east coast, (3) blending opportunities which will allow them to market additional products to customers, (4) expectation of cost and other operational synergies, (5) strong liquidity and credit metrics at close, and (6) demonstration of access to capital through an increase in the size of its revolving credit facility. It also assumes that the financial impact of the recent combustion event at Core's Leer South mine is limited, with a resumption of longwall mining operations around mid-2025. Core's B1 CFR is supported by a high quality portfolio of thermal and metallurgical coal assets, ownership interest in two export terminals on the US east coast which provides access to the seaborne markets for both its thermal and metallurgical coal, solid contracted position for its thermal coal, strong liquidity, and strong credit metrics. The rating is constrained by volatility associated with metallurgical coal, ongoing secular decline in domestic demand for thermal coal, legacy liabilities – related to asset retirement obligations, pension & other post-retirement benefit obligations, black lung & workers' compensation – which are now higher for the combined company, and ESG headwinds facing the US coal sector. The transaction combines CONSOL's predominantly thermal coal portfolio, which the company has been increasingly positioning towards international and industrial end-use markets, with Arch's predominantly met coal portfolio. The combined company will benefit from having an ownership interest in two export terminals on the US east coast, providing optionality to direct volumes from various mines. The companies are targeting $110 to $140 million of revenue, cost and operational synergies. The transaction was affected as an all-stock merger of equals, thereby preserving the credit quality which had improved in recent years following a significant reduction in gross debt for both CONSOL and Arch around 2021-2022. Proforma debt capital structure will include an amended and extended $600 million revolving credit facility (unrated) with an April 2029 maturity (vs. a $355 million revolving credit facility for CONSOL and a $50 million inventory based facility for Arch on a standalone basis), along with three tranches of revenue bonds that are expected to be refinanced shortly after close, as well as maintaining Arch's $150 million and CONSOL's $100 million AR securitization facilities. Moody's expect Core to benefit from a well-contracted base of thermal coal assets, with upside optionality provided by its met coal assets. Moody's expect Core to generate Moody's adjusted EBITDA of around $800 million in 2025 based on a met coal price assumption of $225/MT. On the legacy liabilities front, Core will carry over the nearly $150 million cash reserve that Arch had previously established to address the asset retirement obligations associated with its PRB assets. Environmental, social, and governance considerations are important factors influencing Core's credit quality. An increasing portion of the global investment community has been reducing or eliminating exposure to the coal industry with greater emphasis on moving away from thermal coal. That said, planned retirement of coal fired power plants has been delayed recently in some cases as a result of increase in power demand driven by new data centers being built across the US in support of Artificial Intelligence technology. Additionally, while coal companies had faced funding challenges initially as a result of the pullback by some investors, companies like Core have managed to find alternative sources of capital, particularly for revolving credit facilities. However, other business requirements such as surety bonds, continue to weigh on companies' credit profiles. Core's SGL-2 reflects good liquidity to support operations over the next 12-18 months. Core had proforma cash and cash equivalents of over $600 million at year-end 2024, and Moody's expect positive FCF generation in 2025 with support from a largely contracted thermal coal portfolio. Core will have a new $600 million revolving credit facility due 2029 (unrated), and expects to combine Arch's and CONSOL's existing AR securitization facilities into a new $250 million facility shortly after close. Core's revolver is subject to covenants including maximum first lien gross leverage ratio, maximum total net leverage ratio, and a minimum interest coverage ratio. Moody's expect the company to remain in compliance with its financial covenants over the next 12-18 months. The positive outlook reflects Moody's expectation for smooth integration following close of the merger, progress on realization of targeted annual synergies of $110 - $140 million over 6-18 months from closing, realization of optimization benefits from the ownership of two export terminals, resumption of longwall operations at Leer South following the recent combustion event around mid-2025 with limited financial impact, and allocation of a portion of free cash flow for shareholder distributions while maintaining strong credit metrics and liquidity. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Moody's could upgrade Core's ratings if it successfully integrates the acquisition of Arch, and realizes targeted synergies and portfolio optimization benefits, demonstrates earnings and cash flow stability with a contracted base of thermal coal production, while maintaining strong liquidity and Moody's adjusted Debt/EBITDA below 1.0x. Moody's could downgrade Core's ratings if the integration does not go as planned, Moody's adjusted Debt/EBITDA is sustained above 2.0x, continued negative free cash flow generation results in a substantive deterioration in liquidity, or further intensification of ESG concerns that call into question the company's ability to handle upcoming financing requirements or access capital markets on economic terms. Core Natural Resources, Inc. was formed through a merger between CONSOL Energy Inc. and Arch Resources, Inc. in early 2025. Core has operations across 11 mines, producing both thermal and metallurgical coal. Core also has ownership interests in two export terminals on the US east coast, through which it sells both thermal and metallurgical coal into the seaborne markets. LIST OF AFFECTED RATINGS Issuer: Core Natural Resources, Inc. Affirmations: LT Corporate Family Rating, Affirmed B1 Probability of Default Rating, Affirmed B1-PD Withdrawals: Backed Senior Secured Bank Credit Facility, Withdrawn , previously rated Ba3 Outlook: Outlook, Changed To Positive From Stable Issuer: Pennsylvania Economic Dev. Fin. Auth. Affirmations: Backed Senior Secured, Affirmed B2 Issuer: West Virginia Economic Development Authority Withdrawals: Senior Secured, Withdrawn, previously rated B2 Issuer: Arch Resources, Inc. Withdrawals: LT Corporate Family Rating, Withdrawn, previously rated B1 Probability of Default Rating, Withdrawn, previously rated B1-PD Speculative Grade Liquidity Rating, Withdrawn, previously rated SGL-1 Outlook: Outlook, Changed To Ratings Withdrawn From Stable The principal methodology used in these ratings was Mining published in October 2021. CORETEC GROUP: Secures $4.6-Mil. in Series D Preferred Stock Sale ----------------------------------------------------------------- The Coretec Group, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that on January 9, 2025, it entered into a Subscription Agreement with an accredited investor, pursuant to which Agreement the Company agreed to issue and sell to the investor in a private placement, an aggregate of 46,040 shares of the Company's designated Series D Convertible Preferred Shares, stated value $100 per share, each of which is convertible into shares of common stock, par value $0.0002 per share, of the Company at affixed conversion price of $0.015 per Conversion Share. Under the Purchase Agreement, the investor has purchased an aggregate of 46,040 Series D Preferred Shares initially convertible into an aggregate of 306,933,333 Conversion Shares for an aggregate purchase price of $4,604,000. The purchaser will not have the right to convert any portion of its Series D Preferred Shares if, together with its affiliates, it would beneficially own in excess of 4.99% of the number of shares of Common Stock outstanding immediately after giving effect to such conversion. Additionally, holders of Series D Preferred Shares may elect to exchange their shares for shares of a third-party company, in the event the Company completes an acquisition of shares in a third party company, which may be publicly traded outside U.S markets. The exchange rate for any such transaction would be determined based on the terms and conditions set forth in the certificate of designations for the Series D Preferred Shares. The Agreement contains customary representations and warranties and agreements of the Company and the purchaser and customary indemnification rights and obligations of the parties. The representations and warranties of each party set forth in the Agreement have been made solely for the benefit of the other parties to the Agreement, and such representations and warranties should not be relied on by any other person. Under the terms of the Agreement, the Company is permitted to conduct multiple closings for the sale of the Series D Preferred Stock. Following the initial closing, which occurred on November 6, 2024, the Company conducted a subsequent closing on November 13, 2024, December 1, 2024, December 17, 2024, and January 9, 2025, and may conduct additional closings until the termination of the offering. The offering of the Series D Preferred Shares is expected to remain open until March 31, 2025, subject to an extension of up to 45 days at the Company's discretion. In total, no more than 150,000 shares of Series D Preferred Stock will be sold across the initial and any subsequent closings. A full-text copy of the Form of Subscription Agreement is available at: https://tinyurl.com/upj6ujj9 About The Coretec Group The Coretec Group is an Ann Arbor, Michigan-based company that owns intellectual property and patents related to the production and application of engineered silicon to enable new technologies and improve the lifespan and performance of a variety of materials in a range of industries. The Company is exploring opportunities to use its silicon discoveries and developments to improve the performance of lithium-ion batteries, solid-state LED lights, and semiconductors, among other technologies. It is also exploring ways to use its intellectual property to develop optical plastics to advance the development of its CSpace 3D imaging chamber. Tulsa, Oklahoma-based HoganTaylor LLP, the Company's auditor since 2016, issued a "going concern" qualification in its report dated March 21, 2024, citing that the Company has insufficient revenue and capital commitments to fund the development of its planned products, pay current operating expenses, and meet debt commitments beyond a year following the issuance of these financial statements. This raises substantial doubt about the Company's ability to continue as a going concern. CORK CAPITAL: Case Summary & 20 Largest Unsecured Creditors ----------------------------------------------------------- Debtor: Cork Capital LLC 8810 Boggy Creek Road Suite 100 Orlando, FL 32824 Chapter 11 Petition Date: January 21, 2025 Court: United States Bankruptcy Court Middle District of Florida Case No.: 25-00363 Judge: Hon. Grace E Robson Debtor's Counsel: Jeffrey S. Ainsworth, Esq. BRANSONLAW, PLLC 1501 E. Concord Street Orlando, FL 32803 Tel: 407-894-6834 E-mail: jeff@bransonlaw.com Total Assets: $312,267 Total Liabilities: $1,419,231 The petition was signed by Trina Ruiz as manager. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/Y6PQE7I/Cork_Capital_LLC__flmbke-25-00363__0001.0.pdf?mcid=tGE4TAMA CRACKED EGGERY: Seeks to Hire Honos Law PLLC as Special Counsel --------------------------------------------------------------- Cracked Eggery Inc. seeks approval from the U.S. Bankruptcy Court for the District of Columbia to hire Honos Law PLLC as special counsel. The firm's services include: a. advising the Debtor on corporate compliance and governance matters during the bankruptcy case; and b. assisting the Debtor's selected bankruptcy counsel with corporate compliance and governance matters that may intersect during the bankruptcy case. The firm will charge $550 per hour for its services. As disclosed in the court filings, Honos Law PLLC is a "disinterested person" as that term is defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Peter Martino, Esq. Honos Law PLLC 1717 K Street NW, Suite 900 Washington, DC 20006 Direct: (410) 991-5280 Phone: (202) 753-5017 Fax: (202) 280-1206 Email: peter@honoslaw.com About Cracked Eggery Inc. Cracked Eggery Inc. -- https://crackedeggery.com/-- serves delicious and innovative egg sandwiches, bowls and tots made from premium, local ingredients. Cracked Eggery Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Col. Case No. 24-00416) on December 5, 2024. In the petition filed by Andrew Zarinsky, as co-founder/director, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Elizabeth L. Gunn handles the case. The Debtor is represented by Kevin R. Feig, Esq. at MCNAMEE HOSEA, P.A. CREPERIE D AMOUR: Hires Bach Law Offices as Bankruptcy Counsel -------------------------------------------------------------- Creperie D Amour Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to hire Bach Law Offices, Inc. as attorneys. The firm will render these services: (a) negotiate with creditors; (b) prepare a plan and disclosures statement; (c) examine and resolve claims filed against the estate; (d) prepare and prosecute adversary matters; and (e) represent the Debtor in matters before this court. The firm will be paid at these hourly rates: Paul Bach, Attorney $425 Penelope Bach, Attorney $425 The firm received a retainer of $5,000 inclusive of filing fee of $1,738 from the Debtor. The firm received a retainer from the Debtor in the amount of $5,000, including the filing fee of $1,738. Mr. Bach disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Paul M. Bach, Esq. Penelope Bach. Esq. Bach Law Offices, Inc. P.O. Box 1285 Northbrook, IL 60062 Telephone: (847) 564-0808 Email: paul@bachoffices.com About Creperie D Amour Creperie D Amour Inc., doing business as Paris Bistro, owns and operates a restaurant business in Naperville, Ill. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 24-05158) on April 9, 2024, with $231,539 in assets and $1,517,684 in liabilities. Jonathan Santos, president, signed the petition. Judge Donald R. Cassling presides over the case. Penelope Bach, Esq., at Bach Law Offices represents the Debtor as bankruptcy counsel. CRUCIBLE INDUSTRIES: Seeks to Hire David Van Rossum as CRO ---------------------------------------------------------- Crucible Industries, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of New York to hire David Van Rossum, as the chief restructuring officer. The CRO will render these services: a) assisting the Debtor's finance personnel and professional advisors in a review of the Debtor's business, including but not limited to a review and assessment of financial information that has been, and that will be, provided by the Debtor to its creditors, including in connection with preparation of the Debtor's schedules of assets and liabilities and statement of financial affairs; b) communicating and negotiating with the Debtor's senior secured lender in connection with obtaining and administering a post-petition debtor-in-possession financing facility; c) assisting in the development and management of a 13-week cash flow forecast; d) assisting in financing issues, including assistance in preparation of periodic reports as required to comply with the United States Trustee Guidelines and/or the Debtor's debtor-in-possession financing facility; e) providing testimony, if needed, on matters related to the Debtor's restructuring and sale efforts; f) assisting in discussions with and providing information to creditors, potential purchasers, lenders, official committees, and the United States Trustee, as deemed necessary and appropriate by the Debtor; g) assisting the Debtor and its personnel and advisors in negotiating the terms of one or more purchase agreements for the Debtor's assets and business and in evaluating competing offers for the same; and h) performing such other services in connection with the Debtor's Chapter 11 Case and marketing and sale process as reasonably requested or directed by the Debtor's authorized personnel and/or its member or designated corporate Officers. As compensation, the CRO has agreed to accept $265 per hour, subject to a minimum weekly payment of at least $2,650 regardless of actual time worked. Mr. Van Rossum assured the court that he does not hold nor represent any interest materially adverse to the Debtor's estate; and is a "disinterested person" within the meaning of section 101(14) of the Bankruptcy Code. Mr. Van Rossum can be reached at: David Van Rossum Syracuse, NY About Crucible Industries Crucible Industries, LLC is a New York-based company that manufactures and exports steel products. Crucible Industries filed Chapter 11 petition (Bankr. N.D.N.Y. Case No. 24-31059) on December 12, 2024. In its petition, the Debtor reported $10 million to $50 million in both assets and Liabilities. Judge Wendy A. Kinsella oversees the case. Charles J. Sullivan, Esq., at of Bond, Schoeneck & King, PLLC is the Debtor's legal counsel. CRUCIBLE INDUSTRIES: Taps Stretto Inc as Claims and Noticing Agent ------------------------------------------------------------------ Crucible Industries, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of New York to hire Stretto, Inc. as notice and claims agent. The Debtor requires a claims and noticing agent to serve notices to creditors, equity security holders and other concerned parties, as well as provide computerized claims-related services. Sheryl Betance, a senior managing director at Stretto, disclosed in a court filing that her firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Sheryl Betance Stretto, Inc. 410 Exchange, Ste. 100 Irvine, CA 92602 Telephone: (714) 716-1872 Email: sheryl.betance@stretto.com About Crucible Industries Crucible Industries, LLC is a New York-based company that manufactures and exports steel products. Crucible Industries filed Chapter 11 petition (Bankr. N.D.N.Y. Case No. 24-31059) on December 12, 2024. In its petition, the Debtor reported $10 million to $50 million in both assets and Liabilities. Judge Wendy A. Kinsella oversees the case. Charles J. Sullivan, Esq., at of Bond, Schoeneck & King, PLLC is the Debtor's legal counsel. CUCINA ANTICA: Hires Crescendo Strategic as Financial Advisor ------------------------------------------------------------- Cucina Antica Foods, Corp. seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Crescendo Strategic Advisors, LLC as financial advisor and business broker. The firm will provide these services: a. familiarize itself with the business, operations, financial condition, and prospects of the Debtor; b. assist the Debtor's management in developing a strategy for the possible sale involving the Debtor's assets and provide lists of possible participants in the possible sale; c. assist the Debtor's management in preparing marketing materials, contacting possible participants in the sale of the Debtor's assets and eliciting interest from the same, and evaluating proposals received in connection with such possible transactions; d. participate in the negotiations relating to the above-referenced transactions; and e. participate in, at the request of the Debtor, meetings with directors or governing bodies at which the sale of the Debtor's assets or other related transactions is to be considered. The firm's rates are: a. Success Fee. In the event that the firm is successful in consummating a sale or other transaction, the Debtor will pay the firm a success fee which is equal to an agreed-upon 8.5 percentage of the gross proceeds received from the buyer. b. Calculations of the Success Fee. Upon consummation of a transaction involving the sale of assets or the equity an agreed-upon percentage will be applied to such an amount received from the buyer. c. Contingent Value. If any transaction agreement relating to the sale of the Debtor's assets contemplates payment contingent on passage of time or the occurrence of some future event or circumstances, the firm shall be paid only when such contingent value is paid to the Debtor. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Alejandro Cola, a partner at Crescendo Strategic Advisors, LLC, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Alejandro Cola Crescendo Strategic Advisors, LLC 12130 Millennium Drive, Suite 300 Los Angeles, CA 90094 Tel: (216) 334-6262 Email: acola@crescendostrategic.com About Cucina Antica Foods, Corp. Cucina Antica Foods Corp. is a manufacturer of pasta sauces and ketchup. Cucina Antica Foods Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 24-34058) on December 13, 2024. In the petition filed by Suzanne Fusco, as authorized representative, the Debtor reports estimated assets between $100,000 and $500,000 and estimated liabilities between $1 million and $10 million. The Debtor is represented by Frances A. Smith, Es., at Ross, Smith & Binford, PC. CYTTA CORP: Posts $4.3MM Net Loss for FY Ended September 2024 ------------------------------------------------------------- Cytta Corp. filed with the U.S. Securities and Exchange Commission its Annual Report on Form 10-K disclosing a net loss of $4,264,412 on $4,492 of revenues for the year ended Sept. 30, 2024, compared to a net loss of $4,728,473 on $30,059 of revenues for the year ended Sept. 30, 2023. As of Sept. 30, 2024, the Company had $2,175,191 in total assets, $2,412,635 in total liabilities, and $237,444 in total stockholders' deficit. Hackensack, New Jersey-based Prager Metis CPAs, LLC, the Company's auditor since 2020, issued a "going concern" qualification in its report dated January 14, 2025, citing that as of September 30, 2024, the Company had an accumulated deficit of $36,867,892 and has also generated losses since inception. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. A full-text copy of the Form 10-K is available at: https://tinyurl.com/yraarcxs About Cytta Corp. Headquartered in Las Vegas, Nevada, Cytta Corp. has focused on developing and marketing advanced streaming and integrated communication products, using technology based upon the SUPR (Superior Utilization of Processing Resources) video compression codec/algorithm and IGAN (Incident Global Area Network) incident command proprietary software solutions. Cytta currently develops, markets, and distributes proprietary video streaming products and services that improve how video is streamed, consumed, transferred, and stored in enterprise environments. DREAM INC: Seeks to Tap Harry P. Long as Bankruptcy Counsel ----------------------------------------------------------- Dream Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Alabama to hire the Law Offices of Harry P. Long, LLC as attorneys. The firm will render these services: (a) advise the Debtor of its powers and duties; (b) negotiate and formulate a plan of arrangement under Chapter 11 which will be acceptable to its creditors and equity security holders; (c) deal with secured lien claimants regarding arrangements for payment of its debts and if, appropriate, contest the validity of same; (d) prepare necessary legal papers; and (e) perform all other services which may be necessary. Harry Long, Esq., the primary attorney at this representation, will be compensated at $440 per hour, and $150 per hour for paralegal services. The firm received a retainer in the amount of $50,000, plus $1,738 retainer. Mr. Long disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Harry P. Long, Esq. Law Offices of Harry P. Long, LLC P.O. Box 1468 Anniston, AL 36202 Telephone: (256) 237-3266 Email: hlonglegal8@gmail.com About Dream Inc. Dream Inc. is a technological services business that specializes in software development, IT consulting, managed services, graphic design, UI/UX design, and digital marketing. Dream Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ala. Case No. 25-70008) on January 4, 2025. In the petition filed by J.P. Henderson in his capacity, as executive director, the Debtor reports estimated assets between $100,000 and $500,000 and estimated liabilities between $10 million and $50 million. Harry P. Long, Esq. of The Law Office of Harry P. Long LLC represents the Debtor as counsel. ECHOSTAR CORP: Darsana Capital Holds 5.3% Equity Stake ------------------------------------------------------ Darsana Capital Partners LP, Darsana Capital Partners GP LLC, Darsana Master Fund LP, Darsana Capital GP LLC, and Anand Desai disclose in a Schedule 13G filing with the U.S. Securities and Exchange Commission that as of January 7, 2025, they beneficially own 7,452,052 shares of EchoStar Corporation's common stock, representing 5.3% of the Company's outstanding shares of stock. About Echostar Headquartered in nglewood, Colorado, EchoStar Corporation is a holding company that was organized in October 2007 as a corporation under the laws of the State of Nevada. Its subsidiaries operate four primary business segments: (1) Pay-TV; (2) Retail Wireless; (3) 5G Network Deployment; and (4) Broadband and Satellite Services. Denver, Colorado-based KPMG LLP, the Company's auditor since 2002, issued a "going concern" qualificatin in its report dated Feb. 29, 2024, citing that the Company has debt maturing in 2024 and expects to use a substantial amount of cash in the next twelve months. This raises substantial doubt about its ability to continue as a going concern. ECS FARMS: Seeks Chapter 11 Bankruptcy Protection in Colorado ------------------------------------------------------------- On January 16, 2025, ECS Farms LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the District of Colorado. According to court filing, the Debtor reports between $10 million and $50 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About ECS Farms LLC ECS Farms LLC is an affiliate of Eastern Colorado Seeds LLC, is a full-service seed company offering a wide range of agricultural seeds, including grains, forages, reclamation seeds, and specialty products like pulses, millets, and sunflowers. With locations in Burlington, CO, Dumas, TX, and Clovis, NM, the company ensures efficient delivery and a consistent supply of high-quality products to its customers. ECS Farms LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Co. Case No.: 25-10247) on January 16, 2025. In its petition, the Debtor reports estimated assets between $500,000 and $1 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Joseph G. Rosania Jr. handles the case. The Debtor is represented by: Jeffrey A. Weinman, Esq. Allen Vellone Wolf Helfrich & Factor P.C. 1600 Stout Street, Ste. 1900 Denver, CO 80202 Tel: 303-534-4499 Email: jweinman@allen-vellone.com EDUCATIONAL DEVELOPMENT: Craig White Appointed as New Chairman -------------------------------------------------------------- Educational Development Corp. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that at its regularly scheduled quarterly board meeting, the Board was presented notice of Randall White's resignation from acting Director and Chairman of the Board "Chairman," effective January 8, 2025. Mr. White was a Class III Director elected to serve through the 2025 annual meeting of shareholders. Mr. White confirmed there were no disagreements with management or its accounting practices. A copy of the notice from Mr. White is furnished herewith as Exhibit 99.1 and is incorporated herein by reference. Mr. White began his tenure with EDC in 1983 and served as the Company's President & CEO from 1986 through 2021 and Chairman of the Board since 1986. Mr. White also founded the Company's direct-selling division in 1988. Most recently, he has held an advisory role to Craig White, named President & CEO in 2021, and EDC as a whole. His service is appreciated by the Company and its management team and his legacy will be remembered by all who met him. On the same date, the Board unanimously voted Craig White, Chief Executive Officer and President to fill the vacant Chairman position. Mr. Craig White serves as a Class II Director, elected to serve through 2026. The Board made no decision to replace Mr. Randall White's position as director as of the date of this filing. The Board expects to fill the position of the vacant director by the next annual shareholders meeting in July 2025. Following the resignation of Mr. Randall White, the Company's Board of Directors consists of three independent and one non-independent director, which meets the NASDAQ listing requirements of a at least three directors and a majority of independent directors. About Educational Development Corp Tulsa, Okla.-based Educational Development Corp is the owner and exclusive publisher of Kane Miller children's books; Learning Wrap-Ups, maker of educational manipulatives; and SmartLab Toys, maker of STEAM-based toys and games. It is also the exclusive United States Multi-Level Marketing distributor of Usborne Publishing Limited children's books. Significant portions of our existing inventory volumes are concentrated with Usborne. Educational Development Corp sells its products through two separate divisions, PaperPie and Publishing. As of August 31, 2024, the Company had $85,194,900 in total assets, $42,656,300 in total liabilities, and $42,538,600 in total shareholders' equity. According to the Company's Quarterly Report on Form 10-Q Report for the quarterly period ended August 31, 2024, the short-term duration of the Revolving Loan and uncertainty of the bank's ongoing support beyond January 4, 2025, along with recurring operating losses and other items, raise substantial doubt over the Company's ability to continue as a going concern. To address these concerns, the Company has taken steps in its plans to reduce debt by selling owned real estate. The proceeds from the sale are expected to pay off the Term Loans and Revolving Loan. Following the loan payoff, management plans to fund ongoing operations with limited borrowings through local banks or other financing sources. In addition, management's plans include reducing inventory which will generate free cashflows and building the active PaperPie Brand Partners to pre-pandemic levels. Although there is no guarantee these plans will be successful, management believes these plans, if achieved, will alleviate the substantial doubt about continuing as a going concern and generate sufficient liquidity to meet the Company's obligations as they become due over the next 12 months. EL CHILITO: Hires Alvarado Consulting Inc. as Appraiser ------------------------------------------------------- El Chilito Mexican Food, Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Alvarado Consulting, Inc. as appraiser. The firm will prepare an appraisal opinion on the fair market value of a 100 percent equity interest of the Debtor as of September 11, 2024. The firm will be paid a flat fee of $5,000. Edward A. Alvarado, a partner at Alvarado Consulting, Inc., disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Edward A. Alvarado Alvarado Consulting, Inc. 1801 Century Park East, Suite 2400 Los Angeles, CA 90067 Tel: (213) 359-5444 About El Chilito Mexican Food El Chilito Mexican Food, Inc. is a local taqueria serving a delicious selection of Tex-Mex and interior Mexican style tacos, coffee, frozen sangria/mimosas, and draft beer. El Chilito sought relief under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Calif. Case No. 24-11032) on Sept. 11, 2024, with $500,001 to $1 million in assets and $1 million to $10 million in liabilities. Judge Ronald A. Clifford III oversees the case. The Debtor is represented by Matthew D. Resnik, Esq., at RMH Law, LLP. EL DORADO GAS: Taps Holcomb Law Group as Special Attorney --------------------------------------------------------- El Dorado Gas & Oil, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Mississippi to hire Holcomb Law Group as special attorneys. Holcomb Law will pursue a claim against FIRST SECURITY BANK arising out of what has been called the "Main Street Loan." The firm will be paid at an hourly rate of $300 per hour, plus reimbursement of reasonable and necessary expenses for services. Bradley Golmon, Esq., attorney at Holcomb Law Group assured the court that his firm is a "disinterested person" within the meaning of 11 U.S.C. 101(14). The firm can be reached through: Bradley T. Golmon, Esq. Holcomb Law Group 400 Enterprise Drive Post Office Drawer 707 Oxford, MI 38655 Telephone: (662) 234-8775 Facsimile: (662) 238-7552 About El Dorado Gas & Oil and Hugoton Operating Company Hugoton Operating Company, Inc. filed a voluntary Chapter 11 petition (Bankr. S.D. Miss. Case No. 23-51139) on Aug. 14, 2023. El Dorado Gas & Oil, Inc., a company in Gulfport, Miss., filed Chapter 11 petition (Bankr. S.D. Miss. Case No. 23-51715) on Dec. 22, 2023, with $500 million to $1 billion in assets and $50 million to $100 million in liabilities. Thomas L. Swarek, president, signed the petition. On Feb. 22, 2024, Bluestone Natural Resources II - South Texas, LLC and World Aircraft, Inc. filed separate Chapter 11 petitions (Bankr. S.D. Miss. Case Nos. 24-50223 and 24-50224). On Jan. 12, 2024, the Court entered an order directing the appointment of a Chapter 11 trustee for Hugoton. On Jan. 22, 2024, the Court approved Dawn Ragan as the Chapter 11 trustee for Hugoton. On Jan. 31, 2024, the Court ordered the appointment of a Chapter 11 trustee for El Dorado. On Feb. 2, 2024, the Court approved Ms. Ragan as Chapter 11 trustee for El Dorado. No official committee of unsecured creditors has been established in any of the Debtor cases. Hugoton and El Dorado are both Arkansas corporations engaged in the exploration, production, and development of crude oil and natural gas properties. El Dorado is a lease holder and operator of oil and gas wells covering about 4,000 net acres in South Texas. El Dorado also owns a substantial amount of oil field equipment and owns real estate in multiple locations and states. Hugoton also owns oil and gas interests and operates wells in South Texas. Hugoton is 100% owned by El Dorado and El Dorado is 100% owned by Thomas Swarek. Bluestone is 100% owned by Hugoton. Bluestone owns oil and gas interests operated by the EDGO Debtors. World Aircraft is 100% owned by EDGO. World Aircraft owns various aircraft and equipment assets. Judge Katharine M Samson oversees the cases. Patrick Sheehan, Esq., at Sheehan & Ramsey, PLLC, is Debtors Bluestone Natural Resources II-South Texas, LLC and World Aircraft, Inc. R. Michael Bolen, Esq., at Hood & Bolen, PLLC; and Nancy Ribaudo, Esq., Katherine Hopkins, Esq., and Joseph Austin, Esq., at Kelly Hart & Hallman LLP, serve as counsel to Dawn Ragan, Chapter 11 Trustee for El Dorado Gas & Oil, Inc. and Hugoton Operating Company, Inc. EL DORADO: Trustee Taps Ratzlaff Tamberi & Gill LLP as Accountant ----------------------------------------------------------------- Lisa Holder, the Trustee for El Dorado Senior Care, LLC, seeks approval from the U.S. Bankruptcy Court for the Eastern District of California to employ Ratzlaff Tamberi & Gill, LLP as accountant. The firm will provide accounting services to the Trustee, including tax returns preparation, tax elections, representation before taxing authorities, tax defense, compilation, review and audit of financial statements, computer processing and consulting, accounting systems review, special reports and litigation support. The firm will be paid based upon its normal and usual hourly billing rates. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Christopher A. Ratzlaff, a partner at Ratzlaff Tamberi & Gill, LLP, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Christopher A. Ratzlaff Ratzlaff Tamberi & Gill, LLP 7650 North Palm Avenue, Suite 105 Fresno, CA 93711, Tel: (559) 432-0300 About El Dorado Senior Care, LLC El Dorado Senior Care, LLC, owns and operates community care facilities for the elderly, filed its voluntary petition for Chapter 11 protection (Bankr. E.D. Cal. Case No. 24-22208) on May 21, 2024. In the petition signed by Benjamin L. Foulk, owner/manager, the Debtor disclosed $3,420,371 in assets and $3,127,562 in liabilities. Judge Fredrick E. Clement oversees the case. D. Edward Hays, Esq., at Marshack Hays Wood, LLP serves as the Debtor's legal counsel. ELANCO ANIMAL: Moody's Affirms Ba3 CFR & Alters Outlook to Positive ------------------------------------------------------------------- Moody's Ratings affirmed the ratings of Elanco Animal Health Incorporated (Elanco) including the Ba3 Corporate Family Rating, Ba3-PD Probability of Default Rating, Ba2 senior secured bank credit facility ratings and B2 senior unsecured notes rating. Elanco's speculative grade liquidity rating is unchanged at SGL-1. At the same time, Moody's revised Elanco's outlook to positive from stable. "The outlook change to positive reflects rising potential for an upgrade over the next 12 to 18 months based on the earnings potential of Elanco's recent product launches and the prospect of continued deleveraging," stated Michael Levesque, Moody's Ratings Senior Vice President. Elanco already recently accomplished significant deleveraging by using its aqua health divestiture proceeds to reduce debt, and Moody's anticipate ongoing debt reduction from free cash flow. Recent product approvals of note include Zenrelia (for allergic itch and inflammation) and Credelio Quattro (an antiparasitic). That being said, these and other newer products face commercial execution risk, and ratings affirmation reflects Moody's view that existing ratings remain appropriate until launch success is more established. RATINGS RATIONALE Elanco's Ba3 rating reflects its good position in the global animal health industry, with annual revenue above $4 billion. Revenue is diverse by product, species and geography. Moody's expect improving organic growth as Elanco's newest products, including Zenrelia and Credelio Quattro, grow over time. Moody's anticipate steadily expanding free cash flow as previous integration and restructuring expenses wind down. The rating reflects favorable characteristics of the animal health market, which has lower business risk than other healthcare sectors and good long-term growth prospects. These strengths are tempered by high financial leverage, notwithstanding recent deleveraging from divesture proceeds. On Moody's basis, gross debt/EBITDA was 5.1x as of September 30, 2024 – an improvement from 6.2x at year-end 2023 but still high. The rating reflects Elanco's weak historical track record with growth lagging industry peers and its aggressive financial policies related to debt-funded acquisitions. Elanco's recent product approvals are positive, but face commercial execution risk. Elanco's CIS-4 indicates the rating is lower than it would have been if ESG risk exposures did not exist. The score reflects governance considerations (G-4), driven by Elanco's inconsistent management credibility and track record, with material debt-funded acquisitions and historical underperformance to Moody's projections that drove multiple downgrades since the company spun-off from Eli Lilly in 2019. Elanco is pursuing opportunities to improve its track record, including pipeline innovation and a focus on debt reduction. The score also reflects exposure to social risks (S-3), driven by responsible production, incorporating the risk of regulation to curb the use of Elanco's antibiotic products in animal protein production globally. The SGL-1 Speculative Grade Liquidity Rating reflects Moody's view that liquidity will remain very good over the next 12 months, based on positive free cash flow, limited debt amortization or maturities, and good cushion under the maintenance covenants in the $750 million revolving credit agreement expiring in 2029. These include a maximum net debt/EBITDA ratio of 7.71x and a minimum interest coverage ratio of 2.0x. The revolver was undrawn as of September 30, 2024. The outlook is positive, reflecting potential for an upgrade if Elanco achieves strong growth in its new product portfolio and continues reducing debt. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Factors that could lead to an upgrade include good uptake of new products, solid top-line growth and margin expansion, and continued focus debt reduction. Quantitively, debt/EBITDA sustained below 4.5x could lead to an upgrade. Factors that could lead to a downgrade include sustained below-market growth, significant margin deterioration, or debt-funded acquisitions. Quantitatively, debt/EBITDA sustained above 5.5x could lead to a downgrade. Headquartered in Greenfield, Indiana, Elanco Animal Health Incorporated is a global manufacturer of animal health products. The company develops, manufactures, and markets pharmaceutical products including vaccines, medicinal feed additives, and preventive medicines for farm animals and pets. For the 12 months ended September 30, 2024 Elanco's revenues totaled approximately $4.5 billion. The principal methodology used in these ratings was Manufacturing published in September 2021. FILTERX LLC: Sec. 341(a) Meeting of Creditors on February 13 ------------------------------------------------------------ On January 16, 2025, Filterx LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Middle District of Tennessee. According to court filing, the Debtor reports between $500,000 and $1 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. A meeting of creditors underto be held on February 13, 2025 at 01:00 PM via Meeting held telephonically. Please call 877-934-2472 and enter code 8613356# to attend. About Filterx LLC Filterx LLC is an air filter manufacturer based in Gallatin, Tennessee. The company operates a modern manufacturing facility producing air filter products and serves as the only manufacturer in the Middle Tennessee Region. Filterx LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Tenn. Case No. 25-00186) on January 16, 2025. In its petition, the Debtor reports estimated assets and liabilities between $500,000 and $1 million. Honorable Bankruptcy Judge Nancy B. King handles the case. The Debtor is represented by Henry E. Hildebrand, Esq., at Dunham Hildebrand Payne Waldron, PLLC, in Brentwood, Tennessee. FINANCE OF AMERICA: Bloom Retirement Holds 9.49% Equity Stake ------------------------------------------------------------- Bloom Retirement Holdings Inc. and Reza Jahangiri disclose in a Schedule 13D filing with the U.S. Securities and Exchange Commission that as of January 8, 2025, they beneficially own 2,753,868 shares of Finance of America Companies Inc.'s common stock representing 9.49% of the 9,926,412 shares of Class A Common Stock outstanding as of November 5, 2024. About Finance of America Plano, Texas-based Finance of America Companies Inc. is a financial services holding company. Through its operating subsidiaries, it operates as a modern retirement solutions platform, providing customers with access to an innovative range of retirement offerings centered on the home. In addition, Finance of America offers capital markets and portfolio management capabilities to optimize distribution to investors. For the full year 2023, Finance of America Companies reported a net loss of $218.16 million, compared to a net loss of $715.53 million in 2022. * * * As reported by the Troubled Company Reporter in November 2024, Fitch Ratings has downgraded the Long-Term Issuer Default Ratings (IDRs) of Finance of America Companies Inc. and its subsidiaries, Finance of America Equity Capital LLC and Finance of America Funding LLC (together, FOA) to 'RD' (Restricted Default) from 'C'. The action follows the completion of the company's debt restructuring on Oct. 31, 2024, which Fitch views as a distressed debt exchange (DDE). Fitch has also upgraded FOAs IDRs to 'CCC' from 'RD' subsequent to the DDE. Fitch has assigned a rating of 'CCC-' with a Recovery Rating of 'RR5' to Finance of America Funding, LLC's new $196 million senior secured notes due in 2026 and $147 million convertible senior secured notes due in 2029 issued as part of the exchange. Concurrently, Fitch has also downgraded Finance of America Funding LLC's unsecured debt rating to 'RD" from 'C/RR6' and withdrawn the rating as 98% of the notes were exchanged into the new secured notes. FIREFLY NEUROSCIENCE: Files Amendment No. 2 to Prospectus --------------------------------------------------------- Firefly Neuroscience, Inc., filed with the U.S. Securities and Exchange Commission Amendment No. 2 of the registration statement relating to the offer and sale of an aggregate of 2,559,645 shares of common stock, consisting of: (A) 670,985 shares of Common Stock, which include: (i) 209,613 shares of Common Stock issued upon the conversion of certain shares of Series C Preferred Stock, par value $0.0001 per share, issued to the investors in a series of private placement transactions as part of the Series C units, which such units consist of shares of Series C Preferred Stock and warrants to purchase shares of Common Stock and (ii) 461,372 shares of Common Stock previously issued by Private Firefly after the Effectiveness Date; (B)(i) 319,207 shares of Common Stock issued to the investors in a private placement transaction pursuant to that certain Securities Purchase Agreement, dated as of July 26, 2024, by and among us and the PIPE Investors, (ii) up to 504,323 shares of Common Stock issuable upon the exercise of the pre-funded warrants issued to the PIPE Investors, and (iii) up to 823,530 shares of Common Stock issuable upon the exercise of the private placement warrants issued to the PIPE Investors; (C) up to 168,071 shares of Common Stock issuable upon the exercise of the Series C Warrants issued to the investors in the Series C Financing; (D) up to 61,866 shares of Common Stock issuable upon the exercise of certain Series D Warrants issued to certain consultants of the Company for prior consulting services rendered; and (E) up to 11,663 shares of Common Stock issuable upon the exercise of warrants issued to certain brokers as compensation in connection with certain transactions consummated prior to the Merger. A full-text copy of Amendment No. 2 is available at https://urlcurt.com/u?l=ypQlgw About Firefly Firefly (NASDAQ: AIFF) (formerly WaveDancer, Inc.) is an Artificial Intelligence company developing innovative solutions that improve brain health outcomes for patients with neurological and mental disorders. Firefly's FDA-510(k) cleared Brain Network Analytics (BNA) technology revolutionizes diagnostic and treatment monitoring methods for conditions such as depression, dementia, anxiety disorders, concussions, and ADHD. Over the past 15 years, Firefly has built a comprehensive database of brain wave tests, securing patent protection, and achieving FDA clearance . The Company is now launching BNA commercially, targeting pharmaceutical companies engaged in drug research and clinical trials, as well as medical practitioners for clinical use. Tysons, Virginia-based CohnReznick LLP, the Company's auditor since 2012, issued a "going concern" qualification in its report dated March 20, 2024, citing that the Company has suffered recurring losses from operations that raise substantial doubt about its ability to continue as a going concern. FLEXACAR LLC: Seeks to Hire Brighton Consulting as Loan Consultant ------------------------------------------------------------------ Flexacar LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Virginia to employ Brighton Consulting, LLC as loan consultant and broker. The Debtor tapped Brighton for the purpose of obtaining a refinance of the First Deed of Trust Note held by Atlantic Union Bank and secured by Debtor's real property located at 3845 Jefferson Davis Highway, Stafford, VA 22554. The firm will receive a commission equal to 2 percent of the loan amount procured. Leslie Lickstein, consultant at Brighton Consulting, assured the court that the firm is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14). The firm can be reached through: Leslie Lickstein Brighton Consulting, LLC 4644 Luxberry Drive Fairfax VA 22032 Tel: (703) 303-1466 About Flexacar LLC Flexacar LLC, filed a Chapter 11 bankruptcy petition (Bankr. W.D. Va. Case No. 23-11984) on December 6, 2023. At the time of filing, the Debtor estimated $500,001 to $1 million in both assets and liabilities. Judge Klinette H. Kindred presides over the case. The Debtor tapped Jonathan B. Vivona, Esq., at Vivona Pandurangi, PLC as legal counsel. FREE SPEECH: Allies, Enemies Gear Up for 2nd Infowars Sale ---------------------------------------------------------- Rob Ryser of Newstimes reports that significant developments in the Alex Jones bankruptcy case, involving the Sandy Hook families who sued him, have answered more questions in the first two weeks of the new year than in the previous two and a half years of the high-profile defamation case. As Jones' supporters and critics prepare for a second attempt to purchase his Infowars merchandising and broadcast platform -- a rematch of the December 2024 auction that was thrown out of court -- other questions remain unresolved, the report states. Federal bankruptcy official works to liquidate Jones' personal and private assets to pay the Sandy Hook families a fraction of the hundreds of millions he owes them. The families have agreed on how to divide an estimated $16 million from Jones' bankruptcy estate, according to Newstimes. There are two groups of Sandy Hook families sued Alex Jones, driving him into bankruptcy: a smaller group in Texas and a larger group in Connecticut. Under a "milestone" agreement between the two groups, which may be approved by the judge as soon as January 23, 2025 the Texas families will receive $4 million, while the Connecticut families will get $12 million. Any additional funds from Jones' liquidated assets beyond $16 million will be divided similarly, with 25% going to the Texas families and 75% to the Connecticut families, the report states. A longstanding dispute over Infowars allegedly owing $68 million to a company run by Alex Jones' father has been resolved. The proposed settlement, which could also be approved by the judge on January 23, would pay $375,000 to the company owned by David Jones, a fraction of what it initially sought. This settlement ensures that the Sandy Hook families who sued Jones will not be required to share in the proceeds of Infowars' parent company assets, according to federal bankruptcy official Christopher Murray, according to report. The two companies that competed to buy Infowars in December—when the sale was rejected by the judge—are preparing for another round. First United American Companies, affiliated with Jones, submitted an unsolicited bid to the trustee that more than doubled the previous offer of $3.5 million, the trustee’s attorney informed the judge. The trustee also expects an offer from Global Tetrahedron, the parent company of the satirical news site The Onion, which was initially named the winning bidder alongside the Connecticut families, the report relays. The Onion's bid of $1.75 million aimed to turn Infowars into a parody of itself. The December sale was overturned because the judge determined that the trustee did not make adequate efforts to maximize the sale price but instead favored a bid backed by the Connecticut families. As of January 14, details about the new sale remain unclear, though it is expected that the highest bid will win this time, NewsTime reports. About Free Speech Systems Free Speech Systems LLC is a broadcast media production and distribution company that provides broadcasting aural programs by radio to the public. Free Speech Systems is a family-run business founded by Alex Jones. FSS is presently engaged in the business of producing and syndicating Jones' radio and video talk shows and selling products targeted to Jones' loyal fan base via the Internet. Today, FSS produces Alex Jones' syndicated news/talk show (The Alex Jones Show) from Austin, Texas, which airs via the Genesis Communications Network on over 100 radio stations across the United States and via the internet through websites including Infowars.com. Due to the content of Alex Jones' shows, Jones and FSS have faced an all-out ban of Infowars from mainstream online spaces. Shunning from financial institutions and banning Jones and FSS from major tech companies began in 2018. Conspiracy theorist Alex Jones has been sued by victims' family members over Jones' lies that the 2012 Sandy Hook Elementary School shooting was a hoax. Jones' InfoW LLC and affiliates, IWHealth, LLC and Prison Planet TV, LLC, filed petitions under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 22-60020) on April 18, 2022. GLUCOTRACK INC: To Issue 134.8M Shares After Warrant Exchange ------------------------------------------------------------- Glucotrack, Inc., announced that, between Jan. 6, 2025, and Jan. 13, 2025, the Company received exchange notices from holders of 6,950,240 of its Series B Warrants. As a result, the Company will be required to issue 134,785,015 shares of Common Stock to the warrant holders in accordance with the terms of the Warrants. On Nov. 12, 2024, Glucotrack commenced a best efforts public offering, and in connection with such Offering and in private transactions that took place concurrently with such Offering, issued an aggregate of 10,030,145 Series B Warrants to purchase common stock, par value $0.001 per share, of the Company. The remaining 3,079,905 Series B Warrants are exchangeable for approximately 59,728,158 shares of Common Stock, subject to adjustments in the event of stock dividends, splits, recapitalization, reorganization or similar transaction. The Series B Warrants contained an alternative cashless exercise feature, pursuant to which the holder of a Series B Warrant could exchange such Series B Warrant to acquire, on a cashless basis, additional shares of Common Stock, pursuant to a formula set forth in the Series B Warrants that provided for the acquisition of up to 300% of the number of shares that could otherwise be purchased under such Series B Warrant pursuant to a cash exercise of such Series B Warrant. The issuance of Common Stock was made pursuant to the exemption from the registration requirements of the Securities Act of 1933, as amended, provided by Section 3(a)(9) of the Securities Act, on the basis that (a) the shares of Common Stock were issued in exchange for other outstanding securities of the Company; (b) there was no additional consideration delivered by the holder in connection with the exchange; and (c) there were no commissions or other remuneration paid by the Company in connection with the Exchange. About GlucoTrack Inc. Rutherford, N.J.-based GlucoTrack, Inc. -- http://www.glucotrack.com-- is focused on the design, development, and commercialization of novel technologies for people with diabetes. The Company is currently developing a long-term implantable continuous blood glucose monitoring system for people living with diabetes. Glucotrack's CBGM is a long-term, implantable system that continually measures blood glucose levels with a sensor longevity of three years, no on-body wearable component and with minimal calibration. Tel-Aviv, Israel-based Fahn Kanne & Co., Grant Thornton Israel, the Company's auditor since 2010, issued a "going concern" qualification in its report dated March 28, 2024, citing that the Company has incurred net losses and negative cash flows from its operations and comprehensive loss since its inception and as of December 31, 2023, there is an accumulated deficit of [$109,853,000]. These conditions, along with other matters, raise substantial doubt about the Company's ability to continue as a going concern. GRIT & GRAVEL: Hires Okeefe & Associates as Insolvency Counsel -------------------------------------------------------------- Grit & Gravel, Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire Okeefe & Associates Law Corporation PC as general insolvency counsel. The firm will render these services: a. advise the Debtor with respect to his rights, powers, duties, and obligations as Debtor-in-possession in the administration of this case, the management of his business affairs, and the management of his property; b. advise and assist the Debtor with respect to compliance with the requirements of the Office of the United States Trustee; c. advise the Debtor regarding matters of bankruptcy law, including the rights and remedies of the Debtor with respect to his assets and with respect to the claims of creditors; d. represent the Debtor in any proceedings or hearings in the Bankruptcy Court related to bankruptcy law issues; e. advise, assist, and represent the Debtor in connection with the Estate's claims against the third parties; f. conduct examinations of witnesses, claimants, or adverse parties, and to prepare and assist in the preparation of reports, accounts and pleadings related to the Debtor's Chapter 11 case; g. advise the Debtor regarding its legal rights and responsibilities under the Bankruptcy Code and the Federal Rules of Bankruptcy Procedure; h. assist the Debtor in the negotiation, preparation, and confirmation of a plan of reorganization; i. perform any other necessary legal services for the Debtor incident to the Bankruptcy Case. The firm will be paid at these rates: Sean A. OKeefe $795 per hour Michael Nicastro $595 per hour Paraprofessionals $250 per hour The Debtor provided the firm a $45,000 retainer. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Sean A. O'Keefe, Esq., a partner at Okeefe & Associates Law Corporation, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Sean A. O'Keefe, Esq. OKeefe & Associates Law Corporation, P.C. 26 Executive Park, Suite 250, Irvine, CA 92614 Telephone: (949) 334-4135 Facsimile: (949) 209-2625 Email: sokeefe@okeefelawcorporation.com About Grit & Gravel Inc. Founded in 2020, Grit & Gravel, Inc. is a certified Woman Business Enterprise that crushes, recycles, stores, and sells concrete, stone and gravel at its facility in South Central Los Angeles. These services complement the trucking, earthwork, excavation shoring, and demolition and disposal services provided by its affiliate Miranda Logistics. Grit & Gravel sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No. 24-20278) with up to $50,000 in assets and up to $10 million in liabilities. The petition was signed by Stephanie Miranda as chief executive officer, chief financial officer and secretary. Judge Julia W. Brand oversees the case. The Debtor is represented by Sean A. OKeefe, Esq., at Okeefe & Assoc. Law Corp., P.C. GRIT & GRAVEL: Taps Randy Teffeteller of West Coast as CRO ---------------------------------------------------------- Grit & Gravel Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire West Coast Ventures & Resources, Inc. and designate Randy Teffeteller as the chief restructuring officer. The firm's services include: a. serving as the Debtor's chief restructuring officer/CEO; b. supervising and overseeing the restructure of the Debtor's debts; c. reviewing the Debtor's bankruptcy options; d. if necessary, assisting the Debtor with a liquidation of its assets; e. attempting to workout the Debtor's problems with Mission Valley Bank (MVB), its primary secured creditor; f. negotiating a resolution of ongoing disputes with critical vendors; g. reviewing upcoming bids for new projects; h. developing a management hierarchy; and i. identifying options for improving efficiency, and reducing cost. The firm will receive the following compensation: a. $20,000 for an initial review; b. $10,000 per month fee, and c. a success Fee based upon the following formula: a fee equal to 10 percent of all new debt and equity obtained for the Debtor, the value of any merger, acquisition, real or estate transactions, or asset sales. Randy Teffeteller, CEO of West Coast Ventures & Resources, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Randy Teffeteller West Coast Ventures & Resources, Inc. 2901 West Coast Hwy, Newport Beach, CA 92663 Tel: (949) 612-2598 About Grit & Gravel Inc. Grit & Gravel Inc. is a certified Woman Business Enterprise that crushes, recycles, stores, and sells concrete, stone and gravel at its facility in South Central Los Angeles. These services complement the trucking, earthwork, excavation shoring, and demolition and disposal services provided by its affiliate Miranda Logistics. Grit & Gravel Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 24-20278) on December 17, 2024. In the petition filed by Stephanie Miranda, as CEO, secretary, and CFO, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Julia W. Brand handles the case. The Debtor is represented by Sean A. O'Keefe, Esq. at O'KEEFE & ASSOCIATES LAW CORPORATION, P.C. HAYS TABERNACLE: Taps Lewis R. Landau as Bankruptcy Counsel ----------------------------------------------------------- Hays Tabernacle CME Church seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Lewis R. Landau, Attorney-at-Law, as substitute general bankruptcy counsel to handle the Chapter 11 proceedings Mr. Landau replaces Judd, Bailey, Johnson & Singleton PLLC and Shumika T.R. Sookdeo. Mr. Landau will be paid at his hourly rate of $795 plus reimbursement for out-of-pocket expenses incurred. The attorney also received a total pre-petition retainer of $25,000 from the Debtor. ` Mr. Landau 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 attorney can be reached at: Lewis R. Landau, Esq. 22287 Mulholland Hwy., #318 Calabasas, CA 91302 Telephone: (888) 822-4340 Facsimile: (888) 822-4340 Email: Lew@Landaunet.com About Hays Tabernacle CME Church Hays Tabernacle CME Church sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 24-18171) on October 7, 2024. In the petition filed by Rev. Dr. Phillip D Washington, the Debtor reports estimated assets and liabilities between $1 million and $10 million. The Debtor is represented by Shumika T. R. Sookdeo, Esq. at Robinson Sookdeo Law. HEART HEATING: Updates Dept. of Revenue Secured Claim; Amends Plan ------------------------------------------------------------------ Heart Heating & Cooling, LLC, submitted a Second Amended Disclosure Statement to accompany Plan of Liquidation dated January 15, 2025. On February 2, 2024, the Debtor filed its Application to Employ Apogee Equity Partners as Business Broker and Approve Listing Agreement, which was approved by the Court. Apogee has actively marketed the Debtor's business and its assets for sale to obtain a purchaser for the Debtor's business, which will now be used to fund the Plan. It is anticipated that the sale price for the Debtor's business will gross approximately $4 Million, which will be used to fund the Plan and pay all Administrative Claims and Expenses, Priority Tax Claim, Class 1 Claims, Class 2 Claims and provide a return to General Unsecured Creditors. The return to Class 4 General Unsecured Claims depends on the outcome of any Disputed Claims, including Administrative Claims. Apogee has sought an Administrative Expense Claim in the amount of $240,000.00, which is pending before this Court. While the Debtor disputes that the amount sought is reasonable compensation under the circumstances, the Debtor agrees that Apogee is entitled to a reasonable Administrative Expense Claim and the Allowed Claim shall be paid in full through this Plan. On September 24, 2024, the Debtor entered the Purchase Agreement with Heart HCPE Group, LLC (the "Purchaser"). The Debtor believes the Purchase Agreement is in the best interest of the creditors of this Estate because the Purchased Assets will be sold for $4 million, which is the highest and most qualified offer, generating a substantial return to the Estate, preserving the jobs of the Debtor's employees with the Purchaser, and allowing the Debtor's customers to continue uninterrupted service. On November 4, 2024, the Court Approved the Sale Motion. The sale to Purchaser closed on November 14, 2024. The remaining Sale Proceeds shall be deposited into the Debtor's Reserve Cash Fund and distributed in accordance with this Plan and further orders of this Bankruptcy Court. The Debtor proposes to use the current Debtor-in-Possession account as the Reserve Cash Fund. The account shall be escrowed and segregated from all other accounts held or created by Debtor and no funds shall be distributed from the account until further order of the Court. Once all disputed claims are allowed or disallowed by a Final Order, the entirety of the General Unsecured Creditors in all classes will be known and a Pro Rata distribution can be calculated, and distributions made to all allowed General Unsecured Claims. Until such time as all unsecured claims are determined by a Final Order or a settlement approved by a Final Order of the Court, the Reserve Cash Fund will accrue interest and remain segregated. Any checks which are uncashed after 180 days shall be deposited into the registry of the Court. Following Confirmation of the Plan, the Debtor intends to distribute the remaining Sale Proceeds from the Purchase Agreement, and has generally ceased to operate except as necessary to finalize payment of Allowed General Unsecured and Administrative Claims, final operating expenses, and litigation related to Administrative Claims or Avoidance Actions, and corresponding issues. Class 1 shall consist of the Allowed Claim of the Colorado Department of Revenue ("CDOR"). CDOR shall have a Secured Claim in the amount of $224,824.00 with 8% interest per annum, less any payment made pursuant to the Court approved Stipulation. The Allowed Secured Claim of CDOR was paid in full as a Payments from Closing. The portion of the Class 1 Claim consisting of non-priority penalties and interest in the amount of $42,705.37 shall be treated as a Class 4 Claim. Class 1 is Impaired under the Plan. Like in the prior iteration of the Plan, Class 3 Allowed General Unsecured Claims shall receive Pro Rata distributions from the Reserve Cash Fund. Following Confirmation of the Plan, the Debtor will distribute the Sale Proceeds from the Purchase Agreement in accordance with this Plan and recover any final amounts that remain owing to the Debtor from the Purchaser following the sale and closing, such as excluded accounts receivables and proration amount for the month of November 2024. The Sale Proceeds from the Purchase Agreement will fund payment of Allowed Administrative Expenses and Claims, Class 1 Claims, Class 2 Claims, and Allowed Priority Claims as a Payment at Closing or following Confirmation. Any Administrative Expenses and Claims due thereafter shall be paid from Reserve Cash. Thereafter, and following the Administrative Claims Final Bar Date, the Reserve Cash shall then be used to fund payments to Class 4 General Unsecured Allowed Claims. A full-text copy of the Second Amended Disclosure Statement dated January 15, 2025 is available at https://urlcurt.com/u?l=0vcfzt from PacerMonitor.com at no charge. Attorneys for the Debtor: Jeffrey A. Weinman, Esq. Katharine S. Sender, Esq. Allen Vellone Wolf Helfrich & Factor P.C. 1600 Stout Street, Suite 1900 Denver, CO 80202 Tel: (303) 534-4499 Email: JWeinman@allen-vellone.com KSender@allen-vellone.com About Heart Heating & Cooling, LLC Heart Heating & Cooling, LLC is a HVAC contractor in Colorado Springs, Colo. The Debtor filed Chapter 11 petition (Bankr. D. Colo. Case No. 23-13019) on July 11, 2023, with $2,676,312 in assets and$11,173,434 in liabilities. Joli Lofstedt, Esq., has been appointed as Subchapter V trustee. Judge Thomas B. McNamara oversees the case. K. Jamie Buechler, Esq., at Buechler Law Office, LLC is the Debtor's counsel. HERITAGE HOTELS: Seeks to Extend Plan Exclusivity to April 21 ------------------------------------------------------------- Heritage Hotels Rockport LLC asked the U.S. Bankruptcy Court for the Southern District of Texas to extend its exclusivity periods to file a plan of reorganization and disclosure statement to April 21, 2025. At the time the Bankruptcy was filed, the Debtor owned and operated the Lighthouse Inn at Aransas Bay in Rockport Texas. Here, the factors warrant the requested extension of exclusivity for the following reasons: * The Debtors timely completed their initial filing requirements, are current on US Trustee fees and operating reports, and have otherwise complied with all requirements of the Bankruptcy Code and this Court. * A Plan has been filed and a hearing on the Disclosure Statement has been held. The Court, at the parties request has delayed entering an Order approving the Disclosure Statement pending submission of certain modifications and conclusion of the status conference set in Adversary Proceeding No. 24-02007 pending before this court. * The creditor body of the Debtor is protected by virtue of the fact that the sale of substantially all assets of the Debtor has occurred and the net sales proceeds have been deposited in DIP accounts pursuant to the terms of the Sale Order pending confirmation of the Plan. * It is still early in these Bankruptcy Cases and it is unusual, in Chapter 11 cases such as these, for a debtor to propose a meaningful plan during the initial period of exclusivity. * The Debtor is not seeking an extension to pressure creditors or to obtain an advantage. * No creditor will be prejudiced by the requested extension, in that exclusivity is not being used to prevent any creditor from presently enforcing its rights. Counsel for the Debtor: Vincent Slusher, Esq. 2121 N. Akard St. Suite 250 Dallas TX 75201 Telephone: (214) 478-5926 Email: Vince.Slusher@faegredrinker.com About Heritage Hotels Rockport Heritage Hotels is part of the traveler accommodation industry. Heritage Hotels Rockport LLC in Marble Falls, TX, filed its voluntary petition for Chapter 11 protection (Bankr. S.D. Tex. Case No. 24-20201) on July 24, 2024, listing as much as $10 million to$50 million in both assets and liabilities. James R. Reese as manager, signed the petition. LAW OFFICE OF VINCENT SLUSHER is serving as the Debtor's legal counsel. HILLLCREST CENTER: U.S. Trustee Unable to Appoint Committee ----------------------------------------------------------- The U.S. Trustee for Region 12 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Hillcrest Center, LLC. About Hillcrest Center LLC Hillcrest Center, LLC is a Single Asset Real Estate debtor (as defined in 11 U.S.C. Section 101(51B)). Hillcrest Center sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Minn. Case No. 24-33279) on December 12, 2024, with total assets of $8,181,056 and total liabilities of $6,256,577. Rosemary Kortgard, managing member, signed the petition. Judge William J. Fisher handles the case. The Debtor is represented by Kenneth Edstrom, Esq., at Sapientia Law Group. HOMESTEADER FIRST: Unsecureds to Split $171K over 3 Years --------------------------------------------------------- The Homesteader, First Coast Edition, Inc., d/b/a More Than Ink Printing, filed with the U.S. Bankruptcy Court for the Middle District of Florida an Amended Plan of Reorganization dated January 15, 2025. The Debtor is a family-owned Jacksonville, Florida based printing company which has provided printing, graphic design and mailing services under the DBA More than Ink Printing over the last 20 years. The Debtor's operations process approximately 100,000 paper units and anticipates continued gross revenues of approximately $210,000 per month. The Debtor owns and operates out of a 10,000 sq. ft. commercial warehouse space located at 7224 Golden Wings Rd., Jacksonville, FL 32244 (again, the "Real Property"). The Debtor has been in operation since 2004 and acquired the Real Property in March of 2020 and commenced construction of the current commercial warehouse now serving as its headquarters and printing center. Unfortunately, construction was delayed and over budget because of the COVID-19 pandemic which started just after acquisition of the real property, and the Debtor was not able to move into the Real Property until May of 2023. Additionally, over the same period, the Debtor acquired and financed new printing machinery in anticipation of increased business from an existing client, which fell through. The Debtor filed this Chapter 11 case to provide an orderly structure to reorganize its operations, modify terms and/or surrender certain machinery and preserve its ability to continue operations for its employees, customers and creditors. The Debtor's Plan proposes to pay its approved Administrative Claims in full, its secured claims in full and a total of $171,000.00 to Class 8 General Unsecured Creditors (assuming the Consensual Plan is confirmed), and as such the Allowed General Unsecured Creditors stand to receive approximately $69,000.00 more through this Plan than if the Debtor were to cease operations and its assets be liquidated. Class 8 consists of the following General Unsecured Creditors totaling approximately $354,134.65. The Debtor also scheduled John & Isabel Christiansen as being owed a $50,000.00 unsecured debt as well as Aaron & Christy Canaday as being owed a $50,000.00 unsecured debt (together, the "Insider Debts"). As these creditors are insiders, their unsecured claims will be subordinated to the non-insider general unsecured creditors, and not be entitled to receive distributions under the Plan. * Consensual Confirmation: As more fully defined and disclosed in Section 13.2, in full satisfaction of Class 8 Claims, the Debtor will pay Allowed General Unsecured Creditors its 3 year Projected Disposable Income, $171,000.00, distributed pro rata, on a quarterly basis, directly to the Allowed General Unsecured Creditors if confirmed under 1191(a) over the next 36 months (12 quarters). General Unsecured Creditors will receive a total quarterly Distribution of $14,250.00 over 12 quarterly payments if the Plan is Consensually confirmed and there is no need for the Subchapter V Trustee or continuing bankruptcy expenses post confirmation. * Non-consensual Confirmation: Should the Plan have to be confirmed as Non-consensual under 1191(b), the Subchapter V Trustee will remain appointed and act as disbursing agent for payments to Class 8 creditors. It is estimated that the Subchapter V Trustee's continuing expenses as dispersing agent and other continuing bankruptcy administration expenses for the Debtor will total approximately $1,500.00 per month post-confirmation under a Non-consensual confirmation. The Debtor estimates General Unsecured Creditors will likely receive a total of $129,909.20 distributed on their Claims if the Plan is confirmed as Non consensual, to be distributed in quarterly Distributions of $10,825.76 over 12 quarterly payments. The Debtor shall have the right to prepay this class in full or in part at any time without penalty. Class 8 is impaired and therefore is entitled to vote on this Plan. This class of creditors possesses no security interest in or liens on any Assets. Class 9 consists of Equity Interest Holders. All equity interests of the equity holders in the Debtor shall be retained, and all rights and privileges of the members, owners and holders of the equity interests shall remain unaltered. Given the refined debt service as provided in this Plan, the Debtor will continue its operations which will cover the required new debt service payments. A full-text copy of the Amended Plan dated January 15, 2025 is available at https://urlcurt.com/u?l=b01wqQ from PacerMonitor.com at no charge. Counsel to the Debtor: Kevin B. Paysinger, Esq. William B. McDaniel, Esq. Lansing Roy, P.A. 1710 Shadowood Lane, Suite 210 Jacksonville, FL 32207 Tel: (904) 391-0030 About The Homesteader, First Coast Edition The Homesteader, First Coast Edition Inc., doing business as More Than Ink Printing, is a commercial printing company in Jacksonville, Fla. The Homesteader sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 24-03249) on October 25, 2024, with $1 million to $10 million in both assets and liabilities. Aaron Canaday, vice-president, signed the petition. Judge Jason A. Burgess handles the case. William B McDaniel, Esq., at Lansing Roy, PA, is the Debtor's counsel. IFR FOUNDATION: Frances Smith Named Subchapter V Trustee -------------------------------------------------------- The U.S. Trustee for Region 6 appointed Frances Smith, Esq., at Ross, Smith & Binford, PC, as Subchapter V trustee for IFR Foundation Repair, Inc. Ms. Smith will be paid an hourly fee of $475 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Smith declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Frances A. Smith, Esq. Ross, Smith & Binford, PC 700 N. Pearl Street, Ste. 1610 Dallas, TX 75201 Phone: 214-593-4976 Fax: 214-377-9409 Email: frances.smith@rsbfirm.com About IFR Foundation Repair IFR Foundation Repair Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 25-40111) on January 10, 2025, with $100,001 to $500,000 in both assets and liabilities. Judge Edward L. Morris presides over the case. Warren V. Norred, Esq., at Norred Law, PLLC represents the Debtor as bankruptcy counsel. IMPERIAL GROUP: Property Sale & Basel Proceeds to Fund Plan ----------------------------------------------------------- Imperial Group Holdings, LLC, filed with the U.S. Bankruptcy Court for the Eastern District of Washington a Disclosure Statement for Plan of Reorganization dated January 15, 2025. The Debtor is a Washington limited liability company, wholly owned by Basel Capital Holdings LLC, also a Washington limited liability company. Kwok Fai (George) Li serves as the sole member of Basel Capital. His spouse, Wai Yi ("Christine") Lin, manages Imperial. In 2017, Imperial began the process of acquiring two parcels of land with the (current) address of 12855 Coal Creek Parkway SE, Bellevue (the "Property"). The Property is Imperial's sole asset and Imperial acquired the Property with the intention of improving it by constructing townhouses thereon. The Property and the improvements thereon are referred to herein as the "Project." In furtherance of commencing construction, Imperial obtained an initial loan of $2,061,000 from BRMK Lending, LLC ("Broadmark") in November 2021, secured by a deed of trust against the Property (the "Deed of Trust"). In May 2022, the initial loan was increased to $57,310,000 (the "Construction Loan") for the purposes of funding construction of the Project. With the Construction Loan in place, Imperial commenced construction. The Plan provides for full payment of all creditors from the proceeds of either a refinance of the existing secured financing or a sale of the Debtor's real property. Class 24 consists of Allowed General Unsecured Claims held by non Insider parties that are greater than $1,000,000 (each, a "Class 24 Claim"). Each Holder of a Class 24 Claim will be paid in full (a) from the proceeds of Basel Subordinate Financing within twelve months of the date closing of a Qualified Financing Transaction; or (b) from the Net Proceeds of a Qualified Sale Transaction, whichever occurs sooner. Each Class 24 Claim will accrue interest at the Federal Judgment Rate until paid in full. Class 25 consists of Allowed General Unsecured Claims held by non Insider parties that are between $5,001 and $1,000,000 (each, a "Class 25 Claim"). Each Holder of a Class 25 Claim will be paid in full (a) from the proceeds of Basel Subordinate Financing within six months of the date closing of a Qualified Financing Transaction; or (b) from the Net Proceeds of a Qualified Sale Transaction, whichever occurs sooner. Each Class 25 Claim shall accrue interest at the Federal Judgment Rate until paid in full. Class 26 consists of Allowed General Unsecured Claims held by non Insiders that are $5,000 or less (each, a "Class 26 Claim"). Each Holder of a Class 26 Claim will be paid in full from Basel Subordinate Financing within 45 days of the Effective Date, along with any interest accrued thereon from the Petition Date to the time of payment at the Federal Judgment Rate. Class 28 consists of Equity Interest Holders. Basel Capital shall retain its Equity Interests following Confirmation and shall retain and exercise in its discretion all the privileges and benefits arising from such Equity Interests, but shall receive no distributions on account of such interests until all Allowed Claims in Classes 1-26 have been paid in full pursuant to the terms of the Plan. The Debtor shall have a period of twelve months (the "Transaction Period"), commencing on the first day of the first full month following the Effective Date to (a) identify, qualify for and close a financing transaction in an amount such that the proceeds thereof, alone or when combined with the proceeds of Basel Subordinate Financing (together, the "Financing/Basel Proceeds"), are sufficient to pay all Allowed Claims in full (a "Qualified Financing Transaction"), or (b) close a sale of the Property for a sale price generating Net Proceeds sufficient to provide for the full payment all Allowed Claims in full (a "Qualified Sale Transaction"). As used herein, "Net Sale Proceeds" shall mean the gross cash proceeds from the sale of the Property, less (x) real estate commissions and related expenses; and (y) all closing costs, escrow fees, title insurance premiums and other expenses for which the Debtor is liable. Notwithstanding the foregoing, in the event the Reorganized Debtor has entered into a written contract for the sale of the Property and the Transaction Period would otherwise expire prior to the closing of such sale, the Transaction Period shall be deemed to be extended for a period of not more than sixty calendar days (the "Extended Transaction Period") to permit such sale to close. A full-text copy of the Disclosure Statement dated January 15, 2025 is available at https://urlcurt.com/u?l=jIwHdh from PacerMonitor.com at no charge. The Debtor's Counsel: Christine M. Tobin-Presser, Esq. Thomas A. Buford, Esq. BUSH KORNFELD LLP 601 Union St., Suite 5000 Seattle, WA 98101-2373 Tel: (206) 292-2110 Fax: (206) 292-2104 Email: jkornfeld@bskd.com About Imperial Group Holdings Imperial Group Holdings, LLC owns Cambridge Manor, a 58-unit luxury townhome located at 12855 Coal Creek Parkway SE, Bellevue, Wash. Imperial Group Holdings filed Chapter 11 petition (Bankr. E.D. Wash. Case No. 24-02040) on December 17, 2024, with total assets of $44,569,440 and total liabilities of $41,470,237. Wai Yi Lin, manager of Imperial Group Holdings, signed the petition. Judge Whitman L. Holt oversees the case. The Debtor is represented by Armand J. Kornfeld, Esq., at Bush Kornfeld, LLP. INDEPENDENCE CONTRACT: Completes Ch. 11 Restructuring Process ------------------------------------------------------------- Independence Contract Drilling, Inc. announced on Jan. 20, 2025, that it has successfully completed its Chapter 11 restructuring process and has emerged as a private company that is financially and operationally stronger and well-positioned for the future. ICD's Plan of Reorganization was confirmed by the Bankruptcy Court on January 9, 2025. As a result of the process, ICD eliminated over $197 million of convertible debt, significantly improved its working capital position and is emerging with an undrawn $30 million revolving credit facility that will be immediately available to support ICD's strategic and operational plans. Anthony Gallegos, ICD's president and chief executive officer, said, "Today marks a significant point in ICD's history as we pivot to private-company ownership with a significantly reduced and streamlined corporate cost structure. More importantly, we have significantly deleveraged our balance sheet and added additional liquidity through improved working capital and a new $30 million undrawn working capital facility. I am particularly pleased that, during this process, none of our unsecured creditors were impaired. With this significantly improved financial foundation, ICD is poised to meet and exceed our customer's expectations in the continually evolving U.S. land contract drilling industry." About Independence Contract Drilling Inc. Independence Contract Drilling, Inc., and its affiliates provide land-based contract drilling services for a broad array of oil and natural gas producers in the United States. The Company utilizes its specialized drilling rig fleet, including super spec, AC-powered rigs, to support exploration by targeting unconventional oil and natural gas resources in geographic regions that can be leveraged by the Debtors' primary Houston, Texas, Midland, Texas, Odessa, Texas, and Coushatta, Louisiana facilities. Independence Contract Drilling and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 24-90612) on December 2, 2024. In the petition signed by J. Anthony Gallegos, Jr., as president and chief executive officer, Independence reported total assets of $356,854,000 and total debt of $216,785,000 as of Sept. 30, 2024. The Honorable Bankruptcy Judge Alfredo R. Perez handles the cases. Sidley Austin LLP is the Company's restructuring counsel, Riveron is the restructuring advisor, and Piper Sandler is the investment banker. Kroll is the claims agent. Latham & Watkins LLP is legal counsel for the Noteholders. INDEPENDENCE CONTRACT: Emerges from Chapter 11 Bankruptcy --------------------------------------------------------- Independence Contract Drilling, Inc. announced on January 20, 2025 that it has successfully completed its Chapter 11 restructuring, emerging as a private company that is financially stronger and better positioned for the future. The Bankruptcy Court confirmed ICD's Plan of Reorganization on January 9, 2025. As a result of the process, ICD has eliminated over $197 million in convertible debt, significantly improved its working capital, and secured an undrawn $30 million revolving credit facility to support its strategic and operational goals. Anthony Gallegos, ICD's president and CEO, commented, "Today marks a significant milestone in ICD's history as we transition to private ownership with a more efficient cost structure. More importantly, we have greatly reduced our debt and enhanced liquidity with improved working capital and a new $30 million credit facility. I am particularly pleased that none of our unsecured creditors were impaired during this process. With this strengthened financial foundation, ICD is well-positioned to exceed our customers' expectations in the evolving U.S. land contract drilling industry." About Independence Contract Drilling Inc. Independence Contract Drilling, Inc., and its affiliates provide land-based contract drilling services for a broad array of oil and natural gas producers in the United States. The Company utilizes its specialized drilling rig fleet, including super-spec, AC-powered rigs, to support exploration by targeting unconventional oil and natural gas resources in geographic regions that can be leveraged by the Debtors' primary Houston, Texas, Midland, Texas, Odessa, Texas, and Coushatta, Louisiana facilities. Independence Contract Drilling and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 24-90612) on December 2, 2024. In the petition signed by J. Anthony Gallegos, Jr., as president and chief executive officer, Independence reported total assets of $356,854,000 and total debt of $216,785,000 as of Sept. 30, 2024. The Honorable Bankruptcy Judge Alfredo R. Perez handles the cases. Sidley Austin LLP is the Company's restructuring counsel, Riveron is the restructuring advisor, and Piper Sandler is the investment banker. Kroll is the claims agent. Latham & Watkins LLP is legal counsel for the Noteholders. INSTITUTE OF ISLAMIC: Seeks to Hire Goe Forsythe as Legal Counsel ----------------------------------------------------------------- Institute of Islamic Studies, Incorporated seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire Goe Forsythe & Hodges LLP as counsel. The firm will render these services: (a) advise and assist the Debtor with respect to compliance with the requirements of the United States Trustee; (b) advise the Debtor regarding matters of bankruptcy law; (c) advise the Debtor regarding assumption and rejection of executory contracts and leases; (d) represent the Debtor in any proceedings or hearings in the Bankruptcy Court where its rights under the Bankruptcy Code may be litigated or affected; (e) conduct examinations of witnesses, claimants, or adverse parties and to prepare and assist in the preparation of reports, accounts, and pleadings related to this Chapter 11 case; (f) advise the Debtor concerning the requirements of the Bankruptcy Court and applicable rules as the same affect it in this proceeding; (g) assist the Debtor in negotiation, formulation, confirmation, and implementation of a Chapter 11 plan of reorganization; (h) make any bankruptcy court appearances on behalf of the Debtor; and (i) take such other action and perform such other services as the Debtor may require of the firm in connection with this Chapter 11 case. The firm's counsel and staff will be paid at these hourly rates: Robert Goe, Attorney $695 Marc Forsythe, Attorney $695 Ronald Hodges, Attorney $695 Brian Van Marter, Of Counsel $650 Greg Preston, Of Counsel $650 Dixon Gardner, Attorney $595 Reem Bello, Attorney $595 Charity Manee, Attorney $585 Ryan Riddles, Attorney $495 Jeffrey Broker, Of Counsel $750 Taylor DeRosa, Of Counsel $450 Brandon J. Iskander $495 Olivia Cannon $450 Lauren E. Raya $425 Adam O'Shea $385 Arthur Johnston, Paralegal $250 Britney Bailey, Paralegal $225 Kerry Murphy, Paralegal $275 Lauren Gillen, Paralegal $200 Evan Siegel $185 The firm received a pre-petition retainer of $40,000. Mr. Goe disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Robert P. Goe, Esq. Goe Forsythe & Hodges LLP 17701 Cowen, Lobby D, Suite 210 Irvine, CA 92614 Tel: (949) 796-2460 Fax: (949) 955-9437 Email: rgoe@goeforlaw.com About Institute of Islamic Studies, Incorporated Institute of Islamic Studies, Incorporated is a California-based organization that offers educational programs and resources related to Islamic studies. Institute of Islamic Studies, Incorporated sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-10003) on January 2, 2025. In its petition, the Debtor reports estimated assets between $10 million and $50 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Julia W. Brand presides over the case. Robert P. Goe, Esq. of GOE FORSYTHE & HODGES LLP represents the Debtor as counsel. INTERNATIONAL HOLDINGS: L. Todd Budgen Named Subchapter V Trustee ----------------------------------------------------------------- The U.S. Trustee for Region 21 appointed L. Todd Budgen, Esq., a practicing attorney in Longwood, Fla., as Subchapter V trustee for International Holdings, LLC. Mr. Budgen will be paid an hourly fee of $400 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Budgen declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: L. Todd Budgen, Esq. P.O. Box 520546 Longwood, FL 32752 Tel: (407) 232-9118 Email: Todd@C11Trustee.com About International Holdings International Holdings, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-00242) on January 15, 2025, with $1 million to $10 million in assets and liabilities. Darrell Kelley, manager, signed the petition. Judge Lori V. Vaughan presides over the case. Ronald Cutler, Esq., at Ronald Cutler, P.A. represents the Debtor as legal counsel. IRON IQ: Taps Kutner Brinen Dickey Riley as Bankruptcy Counsel -------------------------------------------------------------- Iron IQ Inc. seeks approval from the U.S. Bankruptcy Court for the District of Colorado to hire Kutner Brinen Dickey Riley, P.C. as its counsel. The firm will render these services: a. provide the Debtor with legal advice with respect to its powers and duties; b. aid the Debtor in the development of a plan of reorganization under Chapter 11; c. file the necessary petitions, pleadings, reports, and actions which may be required in the continued administration of the Debtor's property under Chapter 11; d. take necessary actions to enjoin and stay until final decree continuation of pending proceedings and to enjoin and stay until final decree herein commencement of lien foreclosure proceedings and all matters as may be provided under 11 U.S.C. Sec. 362; and e. perform all other legal services for the Debtor which may be necessary. The firm's customary hourly rates are: Jeffrey S. Brinen $540 Jonathan M. Dickey $400 Keri L. Riley $390 The firm received a pre- petition retainer of $31,738, of which $28,987.50 remained on the Petition Date. Ms. Riley disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Keri L. Riley, Esq. Kutner Brinen Dickey Riley, PC 1660 Lincoln Street, Suite 1720 Denver, CO 80264 Telephone: (303) 832-2910 Email: klr@kutnerlaw.com About Iron IQ Inc. Iron IQ Inc. offers cloud-native SCADA solutions for the oil and gas industry, enabling remote monitoring, control, and optimization of equipment and processes. The company provides integration, production optimization, and technical support to ensure efficient and cost-effective operations. With over 1000 installations and a team of specialists, Iron IQ ensures smooth implementation and ongoing operational excellence. Iron IQ Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Col. Case No. 25-10152) on January 10, 2025. In its petition, the Debtor reports total assets of $366,590 and total liabilities of $4,722,063. Honorable Bankruptcy Judge Michael E. Romero handles the case. Keri L. Riley, Esq., at Kutner Brinen Dickey Riley PC, represents the Debtor as counsel. J&D CUSTOMS: Hires Weinberg Gross & Pergament as Counsel -------------------------------------------------------- J&D Customs LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire Weinberg, Gross, & Pergament, LLP as its counsel. The firm will provide these services: (a) advise the Debtor with respect to its powers and duties in the continued management of its business and property; (b) represent the Debtor before the Bankruptcy Court and at all hearings on matters pertaining to its affairs; (c) advise and assist the Debtor in the preparation and negotiation of a plan of reorganization with its creditors; (d) prepare all necessary legal papers; and (e) perform all legal services for the Debtor which may be desirable and necessary. The hourly rates of the firm's counsel and staff are as follows: Partners $625 - $650 Associates $450 - $550 Paralegals $120 Marc Pergament, Esq., an attorney at Weinberg, Gross & Pergament disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Marc A. Pergament, Esq. Weinberg, Gross & Pergament, LLP 400 Garden City Plaza, Suite 309 Garden City, NY 11530 Telephone: (516) 877-2424 Email: mpergament@wgplaw.com About J&D Customs LLC J&D Customs LLC sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 24-74605) on Dec. 4, 2024. Judge Robert E Grossman presides over the case. Marc A Pergament, Esq. at Weinberg, Gross, & Pergament, LLP represents the Debtor as counsel. JAS AVIATION: Seeks Chapter 11 Bankruptcy Protection in Delaware ---------------------------------------------------------------- On January 15, 2025, JAS Aviation LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware. According to court filing, the Debtor reports between $1 billion and $10 billion in debt owed to 50,000 and 100,000 creditors. The petition states funds will be available to unsecured creditors. About JAS Aviation LLC JAS Aviation LLC is a limited liability company. JAS Aviation LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10076) on January 15, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 billion and $10 billion each. The Debtor is represented by: Patrick J. Reilley, Esq. Cole Schotz P.C. 500 Delaware Avenue, Suite 1410 Wilmington, DE 19801 Phone: 302-652-3131 Fax: 302-652-3117 JEA2 LLC: Hires Jones Lang Lasalle as Real Estate Broker -------------------------------------------------------- JEA2, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of California to employ Jones Lang Lasalle Brokerage, Inc., as real estate broker. The firm will market the Debtor's real property a 155 acres of ag/industrial real property, Patterson, California, bearing Stanislaus County APNs 021-023-028, -029, -032, and -033. The firm will be paid a sales commission 3.5 percent of the gross sale price if the buyer is not represented by a cooperating broker, and 4 percent of the gross sale price if a buyer is represented by a cooperating broker, where the two brokers will each receive 2 percent. As disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: John Fondale Jones Lang LaSalle Brokerage, Inc. 401 Jackson Street Ste. 1100 Tampa, FL 33602 Tel: (813) 830-6535 About JEA2, LLC JEA2, LLC, filed a Chapter 11 bankruptcy petition (Bankr. E.D. Cal. Case No. 24-90615) on Oct. 17, 2024. The Debtor hires Reynolds Law, LLP as counsel. KERISMA LLC: Seeks to Hire Tittle Law Group as Bankruptcy Counsel ----------------------------------------------------------------- Kerisma LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Texas to hire Tittle Law Group, PLLC as bankruptcy counsel. The firm will provide these services: a. provide legal advice with respect to the Debtor's powers and duties as Debtor-in-possession in the continued operation of its business and the management of its property; b. take all necessary action to protect and preserve the Debtor's estate, including the prosecution of actions on behalf of the Debtor, the defense of any actions commenced against the Debtor, negotiations concerning litigation in which the Debtor is involved, and objections to claims filed against the Debtor's estate; c. prepare on behalf of the Debtor necessary motions, answers, orders, reports, and other legal papers in connection with the administration of its estate; d. assist the Debtor in preparing for and filing a plan of reorganization at the earliest possible date; e. perform any and all other legal services for the Debtor in connection with the Debtor's Chapter 11 Case; and f. perform such legal services as the Debtor may request with respect to any matter, including, but not limited to, corporate finance and governance, contracts, antitrust, labor, and tax. The firm will charge the Debtor for its legal services on flat fee basis in accordance with its ordinary and customary rates. The firm received a $18,500 retainer from Rohan Gangar, the Debtor's sole member. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Brandon J. Tittle, Esq., a partner at Tittle Law Group, PLLC, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Brandon J. Tittle, Esq. Tittle Law Group, PLLC 1125 Legacy Dr., Ste. 230 Frisco, TX 75034 Tel: (972) 213-2316 Email: btittle@tittlelawgroup.com About Kerisma LLC Kerisma LLC, doing business as Senacore Solutions, owns and operates a used merchandise store. Kerisma LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tex. Case No. 24-42987) on December 11, 2024. In the petition filed by Rohan Gangar, as manager, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. The Debtor is represented by Brandon Tittle, Esq. at TITTLE LAW GROUP, PLLC. KKC RESTAURANTS: Hires Shraiberg Page P.A. as Local Counsel ----------------------------------------------------------- KKC Restaurants, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Shraiberg Page P.A. as local counsel. The firm will render these services: (a) advise the Debtor generally regarding matters of bankruptcy law in connection with this case; (b) advise the Debtor of the requirements of the Bankruptcy Code, the Federal Rules of Bankruptcy Procedure, applicable bankruptcy rules pertaining to the administration of the case and U.S. Trustee Guidelines related to the daily operation of its business and administration of the estate; (c) represent the Debtor in all proceedings before this court; (d) prepare and review legal documents arising in this case; (e) negotiate with creditors, prepare and seek confirmation of a plan of reorganization and related documents, and assist the Debtor with implementation of any plan; and (f) perform all other legal services for the Debtor, which may be necessary herein. The firm will be paid at these rates: John Page, Attorney $650 per hour Attorneys $350 to $650 per hour Legal Assistants $275 per hour In addition, the firm will seek reimbursement for expenses incurred. Prior to the petition date, the firm received from the Debtor a total retainer of $21,738. Mr. Shraiberg disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Bradley S. Shraiberg, Esq. Samuel W. Hess, Esq. Shraiberg Page, PA 2385 NW Executive Center Dr., Ste. 300 Boca Raton, FL 33431 Telephone: (561) 443-0800 Facsimile: (561) 998-0047 Email: bss@slp.law shess@slp.law About KKC Restaurants, Inc. KKC Restaurants, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 24-22845-MAM) on December 9, 2024. In the petition signed by Bobby Jo McKellar, president, the Debtor disclosed up to $50,000 in assets and up to $1 million in liabilities. Bradley S. Shraiberg, Esq., at Shraiberg Page PA, represents the Debtor as legal counsel. KSN EXPRESS: Hires Golding Law Offices as Bankruptcy Counsel ------------------------------------------------------------ KSN Express Inc. seeks approval from the U.S. Bankruptcy Court for the District of Illinois to hire The Golding Law Offices, P.C. as bankruptcy counsel. The firm will render these legal services: (a) advise the Debtor regarding its rights, powers and duties; (b) assist the Debtor in negotiation and formulation and confirmation of a plan of reorganization that deals with all creditors; (c) examine and investigate claims asserted against the Debtor; (d) take such actions as may be necessary with reference to the claims asserted against the Debtor; (e) investigate, advise and inform the Debtor about and take action as may be necessary to collect and recover or sell for the benefit of the estate and the property of the Debtor; (f) prepare legal papers; (g) assist the Debtor in obtaining refinancing of its secured debt from replacement lenders; and (h) perform all other legal services for the Debtor. The hourly rates of the firm's counsel and staff are: Richard N. Golding $700 Other Attorneys $495 Paralegals $190 The firm received a retainer in the amount of $20,000, plus $1,738 filing fee. In addition, the firm will seek reimbursement for expenses incurred. Richard Golding, Esq., an attorney at The Golding Law Offices, disclosed in a court filing that the firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Richard N. Golding, Esq. The Golding Law Offices, PC 500 N. Dearborn Street, 2nd Fl. Chicago, IL 60610 Telephone: (312) 832-7892 Facsimile: (312) 755-5720 Email: rgolding@goldinglaw.net About KSN Express Inc. KSN Express Inc. is a transportation company based in Volo, Ill. KSN Express sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ill. Case No. 25-00011) on January 2, 2025. In its petition, the Debtor reported total assets of $21,000 and total liabilities of $3,185,000. Judge Michael B. Slade handles the case. Richard N. Golding, Esq., at The Golding Law Offices, P.C. represents the Debtor as bankruptcy counsel. KULR TECHNOLOGY: Signs Multi-Million-Dollar Licensing Agreement --------------------------------------------------------------- KULR Technology Group, Inc., announced on January 14, 2025, the signing of a multi-million-dollar licensing agreement with a new technology partner ("Licensee") to advance carbon fiber cathode applications for nuclear reactor systems in Japan. Applications for Carbon Fiber Cathode Technology The licensed carbon fiber cathode solutions are specifically engineered for critical use in nuclear reactors, offering enhanced safety, superior heat dissipation, and structural integrity. The carbon fiber-based thermal interface materials provide high-performance solutions for demanding nuclear energy applications. The license will be applied to laser-based nuclear fusion systems as well as small modular reactors (SMR's) - a rapidly emerging technology with the potential to deliver cost-effective and reliable fusion energy. Laser-based fusion employs high-powered lasers to initiate fusion reactions, representing a groundbreaking alternative to traditional methods. Strategic Market Opportunities The Company said this licensing agreement underscores KULR's leadership in carbon fiber-based energy solutions and opens new opportunities for advancements in nuclear technology within Japan and the broader Asian market. By leveraging its innovative carbon fiber cathode technology, KULR aims to contribute to the development of fusion technology to meet the world's increasing energy demands while addressing climate change. According to KULR, citing Goldman Sachs, data center energy demand -- currently representing 1-2% of global energy use -- is projected to double by 2030. This growth is driven by hyperscalers increasingly focusing on nuclear energy to meet the rising demands of AI-powered applications in data centers. With global electricity use expected to rise by as much as 75% by 2050 (according to the U.S. Department of Energy), KULR believes its technology is well-positioned to play a pivotal role in addressing these challenges. "This licensing agreement represents a significant milestone for KULR as we expand the applications of our carbon fiber technologies into the nuclear energy sector," said Michael Mo, CEO of KULR Technology Group. "We are proud to partner with an innovative Licensee to bring our cutting-edge cathode and thermal interface materials to the forefront of nuclear reactor technology." About KULR Technology Group Headquartered in San Diego, California, KULR Technology Group Inc. -- www.kulrtechnology.com -- delivers cutting edge energy storage solutions for space, aerospace, and defense by leveraging a foundation of in-house battery design expertise, comprehensive cell and battery testing suite, and battery fabrication and production capabilities. The Company's holistic offering allows delivery of commercial-off-the-shelf and custom next generation energy storage systems in rapid timelines for a fraction of the cost compared to traditional programs. Los Angeles, Calif.-based Marcum LLP, the Company's auditor since 2018, issued a "going concern" qualification in its report dated April 12, 2024, citing that the Company has a working capital deficit, has incurred losses from operations, and needs to raise additional funds to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. LATIGO HOMES: Seeks to Hire Briggs Freeman as Real Estate Broker ---------------------------------------------------------------- Latigo Homes LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to hire Briggs Freeman Sotheby's International Realty as real estate broker. The firm will act as Debtor's exclusive agent to sell the real property commonly known as 244 Nueces Trail, Aledo, Texas 76008. The firm will render these services: a. meet with the Debtor to ascertain the Debtor's goals, objectives, and financial parameters in selling the property; b. solicit interested parties for the sale of the property and marketing of the property for sale through an accelerated sales process; and c. negotiate the terms of the sale of the property. The firm will receive a commission of 5 percent of the sale price. Debtor shall also pay Broker an administrative fee of $395. As disclosed in the court filings, Briggs Freeman Sotheby's Int. Realty is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Joseph Romero Briggs Freeman Sotheby's Int. Realty 4828 Camp Bowie Blvd. Fort Worth, TX 76107 Telephone: (817) 731-8466 Email: jromero@briggsfreeman.com About Latigo Homes LLC Latigo Homes LLC is a Single Asset Real Estate debtor (as defined in 11 U.S.C. Section 101(51B)). Latigo Homes LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 24-44482) on December 2, 2024. In the petition filed by Steven Davis as managing member, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Mark X. Mullin handles the case. The Debtor is represented by Robert T DeMarco, Esq. at DEMARCO MITCHELL, PLLC. LEITMOTIF SERVICES: Closes San Francisco Store After Ch. 11 Filing ------------------------------------------------------------------ Alex Barreira of San Francisco Business Times reports that Fluidfreeride, a Miami-based electric scooter company, has closed its only San Francisco store following its Chapter 11 bankruptcy filing in late 2024. According to the report, the store, located at 360 11th Street, opened in 2022 as Fluidfreeride's first West Coast outlet, offering in-person retail services and scooter repairs with convenient access to the East and South Bay. It was also San Francisco’s first store dedicated exclusively to selling electric scooters rather than offering them as a secondary product. "Our mission is to lead the adoption of electric scooters as an eco-friendly, practical, and fun transportation option by providing the most trusted buying and post-purchase customer experience in the industry, while ensuring a positive impact on the environment," CEO Julian Fernau told the Business Times in 2022. According to San Francisco Business Times, The San Francisco store closed abruptly, with no prior notice to customers via social media or email. Its Google business listing now reads "permanently closed," but the location remains listed on the company website and phone tree. A customer service representative stated that the closures were "due to a business strategy." The fate of Fluidfreeride’s other locations remains uncertain. The Brooklyn store is currently marked "temporarily closed" on Google. CEO Julian Fernau did not respond to requests for comment. Fluidfreeride filed for bankruptcy in Florida Southern District Bankruptcy Court in October through its affiliate, Leitmotif Services LLC. The company reported $1.4 million in assets and $2.6 million in liabilities. According to the bankruptcy filing, the lease for the San Francisco store, a 2,250-square-foot space near local landmarks Butter and Buzzworks, was set to expire at the end of 2025, the report states. The San Francisco store originally offered 22 e-scooter models, priced between $500 and $5,000, catering to delivery workers, construction workers, and office professionals seeking flexibility. San Francisco presents unique opportunities and challenges for e-scooter businesses, with a landscape dominated by rental startups, high rates of property theft, and steep hills that test battery endurance. However, its compact size—no more than seven miles in any direction—makes the city ideal for scooter commuting, according to report. About Leitmotif Services Leitmotif Services, LLC is a retailer of a wide selection of electric scooters. It is based in Miami, Fla., with a self-operated service center in Brooklyn, N.Y., and an expanding network of service partners. Leitmotif Services sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 24-21215) on October 28, 2024, with total assets of $1,410,835 and total liabilities of $2,584,500. Carol Fox of GlassRatner serves as Subchapter V trustee. Judge Laurel M. Isicoff handles the case. The Debtor is represented by Brett Lieberman, Esq., at Edelboim Lieberman, PLLC. LI-CYCLE HOLDINGS: Glencore Holds 67.3% Equity Stake ---------------------------------------------------- Glencore plc, Glencore International AG, and Glencore Canada Corporation disclosed in a Schedule 13D filing with the U.S. Securities and Exchange Commission that as of January 8, 2025, they beneficially own 62,742,951 shares of Li-Cycle Holdings Corp.'s common stock representing 67.3% of the 30,427,796 Common Shares of the Issuer outstanding as of December 31, 2024. About Li-Cycle Holdings Corp. Li-Cycle Holdings Corp. is a Canada-based global lithium-ion battery resource recovery company and pure-play lithium-ion battery recycler. Vaughan, Canada-based KPMG LLP, the Company's former auditor, issued a "going concern" qualification in its report dated March 15, 2024, citing that the Company has suffered recurring losses from operations since inception, continued cash outflows from operating activities and paused its construction of the Rochester Hub project, that raise substantial doubt about its ability to continue as a going concern. Li-Cycle reported a net loss of $138 million for the year ended December 31, 2023, compared to net loss of $70.8 million for the year ended December 31, 2022. LI-CYCLE HOLDINGS: U.S. Subsidiaries Guarantee Glencore Notes ------------------------------------------------------------- Li-Cycle Holdings Corp. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that on January 13, 2025, the Company, Li-Cycle U.S. Inc., Li-Cycle North America Hub, Inc., Li-Cycle Inc, Li-Cycle Americas Corp., the United States Department of Energy, and Citibank N.A., acting through its agency and trust division, entered into the Omnibus Amendment and Consent Agreement, with respect to: (i) the Loan Arrangement and Reimbursement Agreement, dated as of November 7, 2024, by and among the U.S. Subsidiaries and the Department of Energy; and (ii) the Sponsor Support Agreement, dated as of November 7, 2024, by and among Li-Cycle U.S. Inc., Li-Cycle Holdings, Li-Cycle Americas Corp., Citibank N.A. and the Department of Energy. Pursuant to the terms of the LARA and related security documents, each of the U.S. Subsidiaries (each, a borrower or guarantor under the LARA), the Company and the parent must first obtain consent of the DOE and the Collateral Agent prior to entering into the Proposed Glencore Transactions. Accordingly, the U.S. Subsidiaries, the Company and the parent requested the DOE's and the Collateral Agent's consent to the Proposed Glencore Transactions and to certain conforming changes to the LARA and Sponsor Support Agreement, which consent has been granted pursuant to the Omnibus Amendment and Consent Agreement. The Omnibus Amendment and Consent Agreement also provides the DOE's consent for the Company to amend and restate its nickel sulphate offtake agreement with LG Energy Solution, Inc., and to terminate a related manufacturing scrap offer agreement with LGES. The amendments to the off-take agreement will defer the commencement of the Company's nickel sulphate supply obligations from 2025 to 2028 and will expand the range of supply options, in view of the Company's current plans to produce a mixed hydroxide precipitate (or MHP), rather than nickel sulphate, at its future Rochester Hub. Background As previously disclosed in the Current Reports on Form 8-K of Li-Cycle Holdings Corp. filed with the Securities and Exchange Commission on March 12, 2024 and March 25, 2024, the Company issued and sold to Glencore Canada Corporation a senior secured convertible note in an aggregate principal amount of $75,000,000 on March 25, 2024, in a transaction exempt from registration under the Securities Act of 1933, as amended, pursuant to a Note Purchase Agreement dated March 11, 2024, and as amended and restated on March 25, 2024, among the Company, Glencore and Glencore Ltd.. In connection with the Transaction, on March 25, 2024, the Company also amended and restated certain existing unsecured convertible notes that were issued to Glencore in two tranches, which notes amended, restated, consolidated and superseded in their entirety the convertible note originally issued by the Company to Glencore Intermediate on May 31, 2022 and the additional unsecured convertible notes issued in satisfaction of interest due and paid in kind thereunder. Each A&R Glencore Convertible Note includes an event-driven modification applicable to it. The modification to the First A&R Glencore Convertible Note occurred on December 9, 2024, as a result of which the First A&R Glencore Convertible Note was automatically amended pursuant to its terms. The modification to the Second A&R Glencore Convertible Note will take place no later than June 1, 2026 in accordance with the terms of the Second A&R Glencore Convertible Note. Pursuant to: (i) the First A&R Glencore Convertible Note, no later than the First Modification Date, the Company was required to cause Li-Cycle U.S. Inc., Li-Cycle North America Hub, Inc., Li-Cycle Inc. and its certain other subsidiaries to guarantee the obligations of the Company under the First A&R Glencore Convertible Note and to enter into collateral documentation to secure their respective obligations under such guaranty (which, with respect to the guarantee and grant of security by the U.S. Subsidiaries, and the grant of the equity interests in the U.S. Subsidiaries, has been extended to January 15, 2025 or such later date as Glencore may agree, as noted below), and (ii) the Second A&R Glencore Convertible Note, on the Second Modification Date, the Company is required to cause the U.S. Subsidiaries and its certain other subsidiaries to guarantee the obligations of the Company under the Second A&R Glencore Convertible Note and to enter into collateral documentation to secure their respective obligations under such guaranty (such required entry into guaranty and other collateral documentation by the U.S. Subsidiaries and with respect to the pledge of the equity interests of Li-Cycle U.S. Inc. by Li-Cycle Americas Corp. pursuant to the A&R Glencore Convertible Notes, the "Proposed Glencore Transactions"). Security and Guarantees by U.S. Subsidiaries under the A&R Glencore Convertible Notes As previously disclosed in the Current Report on Form 8-K of the Company filed with the SEC on December 9, 2024, on the First Modification Date, a Note Guaranty was entered into by and among Li-Cycle Corp., Li-Cycle Americas Corp., Li-Cycle Europe AG and Li-Cycle Germany GmbH and Glencore as Noteholder, pursuant to which the Note Guarantors have guaranteed all obligations of the Company with respect to the First A&R Glencore Convertible Note on terms consistent with the guaranty provided by the Note Guarantors with respect to the Senior Secured Convertible Note. The Company and the Note Guarantors granted perfected, first priority security interests (subject to customary exceptions and permitted liens) to the Noteholder in their respective assets, including intellectual property and a pledge of the equity interests of each other of the Note Guarantors. Glencore, in its capacity as Collateral Agent under the Senior Secured Convertible Note and Initial Additional Authorized Secured Party under the First A&R Glencore Convertible Note, entered into a pari passu intercreditor agreement which was acknowledged and agreed by the Company and the Note Guarantors. Additionally, pursuant to the Note Guaranty, Glencore acknowledged and agreed that: (i) the U.S. subsidiaries would not be required to provide any security or guarantees to secure the obligations of the Company pursuant to the First A&R Glencore Convertible Note and (ii) no subsidiary of the Company would be required to grant any liens on the equity interests of the U.S. subsidiaries, in each case, until January 15, 2025 (or such later date as Glencore may agree). Following the entering into of the Omnibus Amendment and Consent Agreement, effective January 13, 2025, (i) in connection with the First A&R Glencore Convertible Note, (x) the U.S. subsidiaries entered into a Subsidiary Joinder Agreement to the Note Guaranty in order to guaranty all obligations of the Company with respect to the First A&R Glencore Convertible Note and to acknowledge and agree to the Pari Passu Intercreditor Agreement, (y) the U.S. subsidiaries entered into a U.S. Pledge and Security Agreement, pursuant to which, the U.S. subsidiaries granted perfected, first priority security interests (subject to customary exceptions and permitted liens) to the Noteholder in their respective assets, including intellectual property and a pledge of the equity interests of each other applicable Note Guarantors, to the Noteholder, to secure their respective obligations under the Note Guaranty and (z) the Parent entered into a U.S. Stock Pledge Agreement, pursuant to which the Parent pledged its equity interest in Li-Cycle U.S. Inc. to the Noteholder to secure its obligations under the Note Guaranty; and (ii) in connection with the Second A&R Convertible Note, (x) the U.S. subsidiaries and the Parent, as Note Guarantors, and Glencore, as Noteholder, entered into a Note Guaranty, pursuant to which the Note Guarantors will, upon the occurrence of the Second Modification Date, guarantee all obligations of the Company with respect to the Second A&R Glencore Convertible Note on the terms set forth therein, (y) the U.S. subsidiaries entered into a Second U.S. Pledge and Security Agreement, pursuant to which the U.S. subsidiaries will, upon the occurrence of the Second Modification Date, grant perfected, first priority security interests (subject to customary exceptions and permitted liens) to the Noteholder in their respective assets, including intellectual property and a pledge of the equity interests of each other applicable Note Guarantors, to the Noteholder, to secure their respective obligations under the Second A&R Note Guaranty and (z) the Parent entered into a Second U.S. Stock Pledge Agreement, pursuant to which the Parent will, upon the occurrence of the Second Modification Date, pledge its equity interest in Li-Cycle U.S. Inc. to the Noteholder to secure its obligations under the Second A&R Note Guaranty. About Li-Cycle Holdings Corp. Li-Cycle Holdings Corp. is a Canada-based global lithium-ion battery resource recovery company and pure-play lithium-ion battery recycler. Vaughan, Canada-based KPMG LLP, the Company's former auditor, issued a "going concern" qualification in its report dated March 15, 2024, citing that the Company has suffered recurring losses from operations since inception, continued cash outflows from operating activities and paused its construction of the Rochester Hub project, that raise substantial doubt about its ability to continue as a going concern. Li-Cycle reported a net loss of $138 million for the year ended December 31, 2023, compared to net loss of $70.8 million for the year ended December 31, 2022. LIGADO NETWORKS: U.S. Trustee Unable to Appoint Committee --------------------------------------------------------- The U.S. Trustee for Region 3 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Ligado Networks, LLC. About Ligado Networks Ligado Networks, formerly LightSquared, provides mobile satellite services. Its satellite and terrestrial solutions, combined with powerful, lower mid-band spectrum, serve to supplement and broaden mobile coverage across the United States and Canada. On the Web: http://www.ligado.com/ On January 5, 2025, Ligado Networks LLC and certain of its affiliates each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-10006). Judge Thomas M. Horan oversees the cases. The Debtor tapped Milbank, LLP and Richards, Layton & Finger, P.A. as legal counsel; Perella Weinberg Partners, LP as investment banker; and Ligado, FTI Consulting, Inc. as financial advisor. Omni Agent Solutions, LLC is the claims agent. An ad hoc group of first lien creditors is being advised by Sidley Austin, LLP as legal counsel and Guggenheim Securities, LLC as financial advisor. An ad hoc group of crossholding creditors is being advised by Kirkland & Ellis, LLP. LONERO ENGINEERING: U.S. Trustee Appoints Creditors' Committee -------------------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed an official committee to represent unsecured creditors in the Chapter 11 case of Lonero Engineering Co., Inc. The committee members are: 1. DISMO SAS 38 rue des athurins 75008 Paris, France Phone: 28 325 987 097 Email: pierre.arbona@dismo.fr 2. Jeffrey DuComb, CEO for W.C. DuComb Co. 5700 Mt. Elliott Detroit, MI 48211 Phone: (248) 227-9378 Email: jducomb@wcducom.com 3. Steve Snyder for SB Specialty Metals P.O. Box 690 Liverpool, NY 13088 Phone: (315) 451-8855 ext. 2006 Email: Steve.Snyder@sbsm.com 4. Colleen Luther for Shively Bros, Inc. 2919 S. Grand Traverse St. Flint, MI 48507 Phone: (810) 232-7401 ext. 267 Email: accountsrec@shivelybros.com Official creditors' committees serve as fiduciaries to the general population of creditors they represent. They may investigate the debtor's business and financial affairs. Committees have the right to employ legal counsel, accountants and financial advisors at a debtor's expense. About Lonero Engineering Co. Lonero Engineering Co., Inc. is a company based in Troy, Mich., which operates as a specialized machine shop providing precision machining services for complex, close-tolerance applications. Lonero sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mich. Case No. 25-40041) on January 3, 2025. In its petition, the Debtor reported up to $50,000 in assets and up to $500,000 in liabilities. Judge Lisa S. Gretchko handles the case. John J. Stockdale, Jr., Esq., represents the Debtor as legal counsel. LUKITAS INC: Files Chapter 11 Bankruptcy Protection in Texas ------------------------------------------------------------ On January 20, 2025, Lukitas Inc. filed Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas. According to court filing, the Debtor reports between $500,000 and $1 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Lukitas Inc. Lukitas Inc. is operating under trade names including Alpha Graphics, Jita Printing, and Burciaga Enterprises, is a Houston-based manufacturing company. Located at 6200 Rothway Street. Lukitas Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-30321) on January 20, 2025. In its petition, the Debtor reports estimated assets between $100,000 and $500,000 and estimated liabilities between $500,000 and $1 million. Honorable Bankruptcy Judge Eduardo V. Rodriguez handles the case. The Debtor is represented by: Vicky M. Fealy, Esq. Fealy Law Firm, PC 1235 North Loop W, Ste 1120 Houston, TX 77008 Phone: 713-526-5220 Fax: 713-526-5227 M & M BUCKLEY: Seeks Court Approval to Hire Bankruptcy Counsel -------------------------------------------------------------- M & M Buckley Management, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to hire Gregory K. Stern, Esq., Dennis E. Quaid, Esq., Monica C. O'Brien, Esq., and Rachel S. Sandler, Esq., attorneys practicing in Chicago, Illinois, as its counsel. The firm will provide these services: (a) review assets, liabilities, loan documentation, account statements, executory contracts and other relevant documentation; (b) prepare list of creditors, list of twenty largest unsecured creditors, schedules and statement of financial affairs; (c) advise the Debtor with respect to its powers and duties; (d) assist the Debtor in the preparation of schedules, statement of affairs and other necessary documents; (e) prepare applications to employ attorneys, accountants or other professional persons, motions for turnover, motion for use of cash collateral, motions for use, sale or lease of property, motion to assume or reject executory contracts, plan, applications, motions, complaints, answers, orders, reports, objections to claims, legal documents and any other necessary pleading in furtherance of reorganizational goals; (f) negotiate with creditors and other parties in interest, attend court hearings, meet creditors and other parties in interest; (g) review proofs of claim and solicitation of creditors' acceptances of plan; and (h) perform all other legal services for the Debtor which may be necessary or in furtherance of its reorganizational goals. The attorneys will be paid at these hourly rates: Gregory Stern $650 Dennis Quaid $550 Monica O'Brien $550 Rachel Sandler $450 In addition, the attorneys will seek reimbursement for expenses incurred. The attorneys disclosed in court filings that they are "disinterested persons" as the term is defined in Section 101(14) of the Bankruptcy Code. The attorneys can be reached at: Gregory K. Stern, Esq. Dennis E. Quaid, Esq. Monica C. O'Brien, Esq. Rachel S. Sandler, Esq. 53 West Jackson Boulevard, Suite 1442 Chicago, IL 60604 Telephone: (312) 427-1558 Facsimile: (312) 427-1289 About M & M Buckley Management Inc. M & M Buckley Management, Inc. is a professional property management company based in Richton Park, IL. It specializes in managing residential and commercial properties. M & M sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 24-19108) on December 23, 2024, with $1 million to $10 million in both assets and liabilities. Melvin T. Buckely, Jr., president of M & M, signed the petition. Judge Janet S. Baer handles the case. The Debtor is represented by Gregory K Stern, Esq. at Gregory K. Stern, P.C. MARKOV CORPORATION: Unsecureds to Split $30K over 60 Months ----------------------------------------------------------- Markov Corporation filed with the U.S. Bankruptcy Court for the Middle District of Florida dated January 15, 2025. The Debtor is a small trucking company that specializes in the transportation of goods. The Debtor has been in operation since 2013 and its owner/operator has been a truck driver since 2007. To fund the Plan, the Debtor will use its disposable income, as defined by Bankruptcy Code Section 1191(d). Specifically, the Debtor will use its disposable income received in the 5-year period beginning on the date that the first payment is due under the Plan ("Relevant Income Period"). This Plan proposes to pay the creditors of the Debtor from the cash flow from its current operations and from future income of the Debtor. In addition, the Debtor anticipates receiving significant future inventory financing. This Plan provides for four classes of secured claims; one class of priority claims; one class of general unsecured claims; and one class for the equity interests of the Debtor. Non-priority unsecured creditors holding allowed claims will receive distributions from the Debtor's net cash flow from operations over the life of the Plan. This Plan also provides for the payment of administrative and priority claims in full. Class 3 consists of allowed General Unsecured Creditors. Holders of allowed unsecured claims shall receive a pro-rata share of a fund totaling $30,000.00 created by the Debtor's payment of monthly payments for 60 months, with the first monthly payment commencing on the distribution date. Class 3 is deemed impaired under Section 1124 of the bankruptcy Code so holders of Class 3 claims are entitled to vote on the Plan. Class 4 consists of Equity Interests. All Class 4 interests, upon the effective date, shall be modified so as to deprive the holders thereof of any rights in respect of the Debtor to any distribution upon liquidation of the corporation, or upon sale of all or substantially all the Debtor's assets, and shall be further modified to provide that no dividends shall be paid by reason of such equity interests. Such modification or limitation of equity interests shall remain effective until such time as all the payments contemplated to be made by the terms of the Plan have been made, at which time such modification or limitations shall be removed, and the holders of Class 4 interests shall retain in full such interests without further limitation or restriction. The Debtor shall retain all of its property and operate its business and the funds necessary for the satisfaction of creditors' claims shall be generated from the future income of the Debtor, or from the sale of the Debtor's assets as may be from time to time practical and necessary in order to make the payments required by the Plan. A full-text copy of the Plan of Reorganization dated January 15, 2025 is available at https://urlcurt.com/u?l=AJ6GCT from PacerMonitor.com at no charge. Attorneys for the Debtor: MARTIN LAW FIRM, P.L., Jonathan M. Bierfeld, Esq. 3701 Del Prado Boulevard S Cape Coral, Florida 33904 Telephone: (239) 443-1094 Facsimile: (941) 218-1231 Email: jonathan.bierfeld@martinlawfirm.com Benjamin G. Martin, Esq. Attorney at Law 3131 S. Tamiami Trail, Suite 101 Sarasota, Florida 34239 Phone: (941) 951-6166 Email: skipmartinlaw@verizon.net About Markov Corporation Markov Corporation is a small trucking company that specializes in the transportation of goods. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 24-01575) on Oct. 17, 2024, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Caryl E. Delano presides over the case. Jonathan M. Bierfeld, Esq., at Martin Law Firm PL, is the Debtor's bankruptcy counsel. MARQUIE GROUP: Delays Q2 Report for Period Ended Nov. 30 -------------------------------------------------------- The Marquie Group, Inc. disclosed a Form 12b-25 with the U.S. Securities and Exchange Commission that the financial information to be contained in its 10-Q for the quarter ended November 30, 2024 cannot be analyzed and completed on a timely basis. About Marquie Group Inc. The Marquie Group, Inc. -- www.themarquiegroup.com -- is an emerging direct-to-consumer firm specializing in product development and media, including a dynamic radio and digital network. The Company crafts and promotes top-tier health and beauty solutions that enrich lives, showcased through engaging radio content for its audience. Lagos, Nigeria-based Olayinka Oyebola & Co., the Company's auditor since 2024, issued a "going concern" qualification in its report dated September 3, 2024, citing that the Company suffered an accumulated deficit of $14,863,486, net loss of $165,456 as of May 31, 2024. These matters raise substantial doubt about the Company's ability to continue as a going concern. MAWSON INFRASTRUCTURE: December Monthly Revenue Up 7% M/M --------------------------------------------------------- Mawson Infrastructure Group Inc. announced its unaudited business and operational update for December 2024. Rahul Mewawalla, CEO and President said, "We are delighted with what has been a transformational 2024 year for the company and a great start to the new year 2025. During 2024 and early 2025, we delivered significant upgrades and advancements to our strategic, technological and operational capabilities, drove robust year-on-year and monthly revenue growth across our digital colocation business, acquired and signed several enterprise-grade customers, drove innovation and built what has become one of the largest digital colocation businesses amongst our publicly-traded peers, expanded into new market offerings such as artificial intelligence and high-performance computing in addition to digital assets, we have onboarded leaders and team members with expertise from technology companies like Amazon Web Services and Apple, we were featured in the Financial Times, Reuters, Newsweek, Forbes, Fast Company amongst others, and were recently invited by NASDAQ to ring the Closing Bell. I am truly grateful to the entire organization and ecosystem including our employees, customers and partners. We are looking forward to the year ahead and what we will together accomplish in 2025." Unaudited financial and operational highlights for December 2024: * Digital Colocation Monthly Business Revenue was up 69% Y/Y, to about $4.49 million growing from $2.66 million in December 2023, and up 8% M/M growing from $4.18 million in November 2024. * Total Monthly Revenue up 7% M/M to about $5.26 million from $4.9 million in November 2024. * Monthly Energy Management Business Revenue was up 25% M/M from $0.33 million in November 2024 to $0.41 million in December 2024 and Digital Assets Mining Monthly Business Revenue was $0.36 million. * Total Current Operating Hash Rate (EH) is about 4.98 EH/s (exahashes per second) * Mawson recently signed a new digital colocation customer agreement with a NASDAQ-listed publicly traded company as a customer on January 3, 2025 - Digital colocation services for 5,880 miners or approximately 20 MW at Mawson's facilities, initial digital colocation customer agreement term is for 12 months, and the parties can extend upon mutual agreement. - Further strengthens Mawson's position as a leading industry provider of digital infrastructure and colocation services in the attractive PJM market, which is North America's largest competitive and deregulated wholesale power market. - Upon completion of this deployment, Mawson expects to operate and manage approximately 41,500 miners. - Combined Total Current Operating Hash Rate (EH) expected to increase to about 5.10 EH/s (includes colocation and self-mining across our facilities).1 * Company also has an additional site in Ohio under development which is expected to add an initial 24 MW to the Company's currently operating 129 MW across its sites, growing the Company's total operating capacity to 153 MW, upon completion with further potential expansion of its hashrate. * Mawson supports innovative, agile, efficient, and scalable approaches to AI infrastructure and compute, and invites AI/HPC ecosystem companies to discuss opportunities to collaborate on artificial intelligence, high-performance and accelerated computing solutions. About Mawson Infrastructure Group Mawson Infrastructure Group specializes in data centers for Bitcoin miners and AI firms. Mawson Infrastructure Group's creditors filed a Chapter 11 involuntary petition against the company (Bankr. D. Del. Case No. 24-12726) on December 4, 2024. The petitioning creditors include W Capital Advisors Pty Ltd, Marshall Investments MIG Pty Ltd, and Rayra Pty Ltd. The petitioners' counsel is Robert J. Dehney, Esq., at Morris, Nichols, Arsht & Tunnell. Judge Mary F. Walrath handles the case. MERRILL SERVICES: Seeks to Tap Kincaide Ltd as Financial Advisor ---------------------------------------------------------------- Merrill Services, Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of Illinois to hire Kincaide Ltd. as financial advisor. The firm will provide Debtor assistance with cash flow planning, assistance with financial reporting during the case, and assistance with financial projections for the Subchapter V plan. The Debtor has agreed to compensate Kincaide on a monthly flat fee basis of $2,500 per hour. AS disclosed in the court filings, Kincaide is a "disinterested person" within the scope of 11 U.S.C. Sec. 101(14) as required by 11 U.S.C. Sec. 327(a). The firm can be reached through: Jason Cupp Kincaide Ltd. 4741 Central, Suite 154 Kansas City, MO 64112 Tel: (913) 735-7011 About Merrill Services, Inc. Merrill Services, Inc. provides professional lawn care, landscaping, fertilization, and snow removal to Champaign, Illinois and surrounding areas. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Ill. Case No. 24-90597) on December 11, 2024, with up to $500,000 in assets and up to $10 million in liabilities. Marcus R. Merrill, president of Merrill Services, signed the petition. Judge Mary P. Gorman oversees the case. Sumner A. Bourne, Esq., at Rafool & Bourne, P.C., represents the Debtor as legal counsel. MERRILL SERVICES: Taps Rafool & Bourne PC as Bankruptcy Counsel --------------------------------------------------------------- Merrill Services, Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of Illinois to hire Rafool & Bourne, P.C. as its bankruptcy counsel. The Debtor requires legal counsel to: (a) give advice regarding the rights, powers and duties of the Debtor in connection with the administration of its bankruptcy estate and the disposition of its property; (b) take necessary actions with respect to claims that may be asserted against the Debtor and property of its estate; (c) prepare legal papers; (d) represent the Debtor with respect to inquiries and negotiations concerning creditors of its estate and property; (e) initiate, defend or otherwise participate on behalf of the Debtor in all proceedings before the bankruptcy court or any other court of competent jurisdiction; and (f) perform other necessary legal services. The firm will be paid at the rate of $300 per hour, plus reimbursement of expenses incurred. Prior to the petition date, the firm received a retainer of $20,500 from the Debtor. Sumner Bourne, Esq., a partner at Rafool & Bourne, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Sumner A. Bourne, Esq. Rafool & Bourne, PC 401 Main Street, Suite 1130 Peoria, IL 61602 Tel: (309) 673-5535 Fax: (309) 673-5537 Email: notices@rafoolbourne.com About Merrill Services, Inc. Merrill Services, Inc. provides professional lawn care, landscaping, fertilization, and snow removal to Champaign, Illinois and surrounding areas. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Ill. Case No. 24-90597) on December 11, 2024, with up to $500,000 in assets and up to $10 million in liabilities. Marcus R. Merrill, president of Merrill Services, signed the petition. Judge Mary P. Gorman oversees the case. Sumner A. Bourne, Esq., at Rafool & Bourne, P.C., represents the Debtor as legal counsel. METAL CHECK: Files Amendment to Disclosure Statement ---------------------------------------------------- Metal Check, Inc., and Diana Kay Salazar submitted an Amended Disclosure Statement describing Amended Plan dated January 16, 2025. Summary of revisions: * Corrects a typographical error on the Amended Plan that reflected on treatment of Class 23 CrossFit of monthly payments of $5,7333.81, amended to $5,733.81. Shortens that payoff period of the arrearage to M.R. High from 36 months to 29 months. * Moves the beginning of payments to Billy Gill from month 42 to month 43, after payment of other unsecured creditors and arrearages for all secured debts. Class 14 consists of General Unsecured Claim of JP Morgan Chase Bank, N.A. This Class will receive a monthly payment of $143.97 for 34 months, $1,683 for 2 months and $234 for 1 month. Payments will begin April 2025 and ends March 2028. This Class will receive a distribution of 100% of their allowed claims. This Class is impaired. Class 15 consists of the General Unsecured Claim of Randal Phillips. This Class will receive a monthly payment of $446.59 for 34 months, $1,986 for 5 months and $1,245 for 1 month. This Class will receive a distribution of 100% of their allowed claims. This Class is impaired. Class 16 consists of General Unsecured Claim of Bill F. Gill. This Class will receive a monthly payment of $3,300.00 from September 2028 to January 2035. This Class will receive a distribution of 100% of their allowed claims. This Class is impaired. Payments and distributions under the Plan will be funded by the following: * Salary of Debtor received from Metal Check. * Rent paid by Metal Check for the Real Property owned by the Debtor at 5700 S. High. A full-text copy of the Amended Disclosure Statement dated January 16, 2025 is available at https://urlcurt.com/u?l=PGDhU9 from PacerMonitor.com at no charge. Attorney for the Debtor: Mike Rose, Esq. MICHAEL J ROSE PC 4101 Perimeter Center Drive, Suite 120 Oklahoma City, OK 73112 Tel: (405) 605-3757 Fax: (405) 605-3758 Email: mrose@coxinet.net About Metal Check Metal Check, Inc., a company in Oklahoma City, filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. W.D. Okla. Case No. 23-11279) on May 16, 2023, with $841,675 in assets and $2,033,069 in liabilities. Stephen Moriarty, Esq., at Fellers Snider Blankenship Bailey & Tippens, PC has been appointed as Subchapter V trustee. Judge Janice D. Loyd oversees the case. The Debtor initially tapped Christopher Wood, at Christopher A. Wood & Associates, P.C., as legal counsel, and Mark D. Cain P.C. as accountant. Mike Rose, Esq, of Michael J Rose PC, replaced Mr. Woods and Christopher A. Wood & Associates, P.C. MIRANDA LOGISTICS: Hires Okeefe & Associates as Insolvency Counsel ------------------------------------------------------------------ Miranda Logistics Enterprise, Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire Okeefe & Associates Law Corporation PC as general insolvency counsel. The firm will render these services: a. advise the Debtor with respect to his rights, powers, duties, and obligations as Debtor-in-possession in the administration of this case, the management of his business affairs, and the management of his property; b. advise and assist the Debtor with respect to compliance with the requirements of the Office of the United States Trustee; c. advise the Debtor regarding matters of bankruptcy law, including the rights and remedies of the Debtor with respect to his assets and with respect to the claims of creditors; d. represent the Debtor in any proceedings or hearings in the Bankruptcy Court related to bankruptcy law issues; e. advise, assist, and represent the Debtor in connection with the Estate's claims against the third parties; f. conduct examinations of witnesses, claimants, or adverse parties, and to prepare and assist in the preparation of reports, accounts and pleadings related to the Debtor's Chapter 11 case; g. advise the Debtor regarding its legal rights and responsibilities under the Bankruptcy Code and the Federal Rules of Bankruptcy Procedure; h. assist the Debtor in the negotiation, preparation, and confirmation of a plan of reorganization; i. perform any other necessary legal services for the Debtor incident to the Bankruptcy Case. The firm will be paid at these rates: Sean A. OKeefe $795 per hour Michael Nicastro $595 per hour Paraprofessionals $250 per hour The Debtor provided the firm a $45,000 retainer. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Sean A. O'Keefe, Esq., a partner at Okeefe & Associates Law Corporation, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Sean A. O'Keefe, Esq. OKeefe & Associates Law Corporation, P.C. 26 Executive Park, Suite 250, Irvine, CA 92614 Telephone: (949) 334-4135 Facsimile: (949) 209-2625 Email: sokeefe@okeefelawcorporation.com About Miranda Logistics Enterprise Miranda Logistics Enterprise, Inc., a Los Angeles-based company, provides trucking, earthwork, excavation shoring, and demolition and disposal services. Miranda Logistics Enterprise sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No. 24-20277) with up to $50,000 in assets and up to $10 million in liabilities. The petition was signed by Marco Miranda as chief executive officer, secretary, and chief financial officer. Judge Vincent P. Zurzolo oversees the case. The Debtor is represented by Sean A. OKeefe, Esq., at Okeefe & Assoc. Law Corp., P.C. MIRANDA LOGISTICS: Taps Randy Teffeteller of West Coast as CRO -------------------------------------------------------------- Miranda Logistics Enterprise, Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire West Coast Ventures & Resources, Inc. and designate Randy Teffeteller as the chief restructuring officer. The firm's services include: a. serving as the Debtor's chief restructuring officer/CEO; b. supervising and overseeing the restructure of the Debtor's debts; c. reviewing the Debtor's bankruptcy options; d. if necessary, assisting the Debtor with a liquidation of its assets; e. attempting to workout the Debtor's problems with Mission Valley Bank (MVB), its primary secured creditor; f. negotiating a resolution of ongoing disputes with critical vendors; g. reviewing upcoming bids for new projects; h. developing a management hierarchy; and i. identifying options for improving efficiency, and reducing cost. The firm will receive the following compensation: a. $20,000 for an initial review; b. $10,000 per month fee, and c. a success Fee based upon the following formula: a fee equal to 10 percent of all new debt and equity obtained for the Debtor, the value of any merger, acquisition, real or estate transactions, or asset sales. Randy Teffeteller, CEO of West Coast Ventures & Resources, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Randy Teffeteller West Coast Ventures & Resources, Inc. 2901 West Coast Hwy, Newport Beach, CA 92663 Tel: (949) 612-2598 About Miranda Logistics Enterprise Miranda Logistics Enterprise, Inc., a Los Angeles-based company, provides trucking, earthwork, excavation shoring, and demolition and disposal services. Miranda Logistics Enterprise sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No. 24-20277) with up to $50,000 in assets and up to $10 million in liabilities. The petition was signed by Marco Miranda as chief executive officer, secretary, and chief financial officer. Judge Vincent P. Zurzolo oversees the case. The Debtor is represented by Sean A. OKeefe, Esq., at Okeefe & Assoc. Law Corp., P.C. MONDEE HOLDINGS: Jan. 23 Deadline Set for Panel Questionnaires -------------------------------------------------------------- The United States Trustee is soliciting members for committee of unsecured creditors in the bankruptcy cases of Mondee Holdings, Inc., et al. If a party wishes to be considered for membership on any official committee that is appointed, it must complete a questionnaire available at https://tinyurl.com/bp556k96 and return by email it to Jon Lipshie - jon.lipshie@usdoj.gov - at the Office of the United States Trustee so that it is received no later than Thursday, January 23, 2025 at 4:00 p.m. (E.T.). If the U.S. Trustee receives sufficient creditor interest in the solicitation, it may schedule a meeting or telephone conference for the purpose of forming a committee. About Mondee Holdings Inc. Mondee Holdings Inc. operates as a travel technology company in the leisure travel markets in the United States and internationally. Founded in 2011, Mondee Holdings acquired several major businesses, including the largest air ticket consolidators in the United States and Canada. Mondee Holdings are headquartered in Austin, Texas, with additional offices in Canada, Brazil, Mexico, India, and Thailand. Mondee Holdings Inc. and several of its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10047) on January 14, 2025. In the petitions signed by Mohsin Meghji as chief restructuring officer, the Debtors reported total assets of $362,804,000 and total debts of $358,688,000 as of June 30, 2024. The Hon. J Kate Stickles presides over the cases. The Debtors has tapped Young Conaway Stargatt & Taylor, LLP as their Delaware bankruptcy counsel; and Fried, Frank, Harris, Shriver & Jacobson LLP as their general bankruptcy counsel. M3 Advisory Partners, LP serves as restructuring advisor to the Debtors; Piper Sandler & Co acts as investment banker; and Kroll Restructuring Administration LLC acts as notice and claims agent. MOORE MEDICAL: Claims to be Paid From Available Cash and Income --------------------------------------------------------------- Moore Medical Group, Inc. filed with the U.S. Bankruptcy Court for the Middle District of Florida a Plan of Reorganization for Small Business dated January 15, 2025. The Debtor provides in-patient medical services to hospitals and mental health facilities in Florida and North Carolina. The Debtor's office is located at 801 International Parkway, Suite 500, Lake Mary, FL 32746. The Debtor is a Florida corporation organized by Articles of Organization filed with the Florida Secretary of State on July 25, 2011. The Debtor has 45 employees. The Plan provides for: 1 class of priority claims, 1 class of undisputed secured claims, 1 class of disputed secured claims, 1 class of non-priority unsecured claims; and 1 class of equity security holders. Class 4 consists of All Non-Priority Unsecured Claims. The liquidated, scheduled and filed Class 4 unsecured claims of creditors total $407,513.57. Each holder of an allowed Class 4 claim will receive, beginning on the Effective Date of the Plan, and continuing quarterly for five years, a pro-rata share of unencumbered proceeds after the payment of allowed Administrative Expense Claims, allowed Priority Tax Claims, allowed Priority Claims, and allowed secured claims. Class 4 is impaired by the Plan. Class 5 is comprised of all equity interests in the Debtor, which are owned by Dr. Eric Moore. Dr. Moore will retain his equity interests in the Debtor. Payments required under the Plan will be funded from: (i) existing cash on hand on the Effective Date; and (ii) projected disposable income remaining after the payment of operating expenses. All distributions under the Plan shall be made by the Debtor, whether the Plan is confirmed pursuant to Section 1191(a) or (b) of the Bankruptcy Code. A full-text copy of the Plan of Reorganization dated January 15, 2025 is available at https://urlcurt.com/u?l=mvAT2l from PacerMonitor.com at no charge. Attorneys for the Debtor: Katelyn M. Vinson, Esq. JENNIS MORSE 606 East Madison Street Tampa, Florida 33602 Telephone: (813) 229-2800 Email: kvinson@jennislaw.com About Moore Medical Group Moore Medical Group, Inc., a company in Lake Mary, Fla., filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 24-05162) on Sept. 24, 2024, listing $481,336 in assets and $2,762,511 in liabilities. L. Todd Budgen, Esq., a practicing attorney in Longwood, Fla., serves as Subchapter V trustee. Judge Grace E. Robson oversees the case. David Jennis, PA serves as the Debtor's legal counsel. MUSTANG SHOP: Unsecureds Will Get 35% of Claims over 60 Months -------------------------------------------------------------- The Mustang Shop of San Diego, Inc., submitted a Second Amended Subchapter V Plan dated January 15, 2025. By way of this Plan, the Debtor is seeking to reorganize its business and restructure its debt obligations. The Plan will be funded from the Debtor's future income. Class 3(a) is comprised of the unsecured claim of Scott Crumrine if all or part of his Class 2(c) claim becomes unsecured. Crumrine filed a Proof of Claim asserting his claim for $655,842.58 to be secured. The Debtor maintains that the lien's creation was a preferential transfer and will file an action to set the lien aside. For purposes of the Chapter 11 Plan, if the Debtor prevails on this preference action, the claim will be unsecured, will be treated as set forth in Class 3(a) and there will not be a Class 2(c) class. After subtracting payments to administrative and priority tax claims, the combined Class 3(a) and Class 3(b) will receive a total of $265,020 in 60 monthly installments. The disbursing agent will make payments of $1,667 per month in months 1 through 12, followed by $3,334 per month in months 13 through 36, $6,250 per month in months 37 through 48 and 7,500 per month in months 49 through 60. Each creditor will be paid on a pro rata basis based upon the combined total of all Class 3(a) and Class 3(b) allowed claims. The total amount that members of the class will receive is contingent on the final determination of the Class 3(a) allowed claim and thus it is impossible to estimate with particularity the percentage that members of this class will receive. The Debtor's best estimate is that members of the class will receive approximately 35% on their allowed claims. The percentage could increase if the allowed amount of the Class 3(a) claim is reduced. Class 3(b) consists of unsecured claims not included in Class 3(a) and excluding claims of insiders. This class is estimated to total $173,406. After subtracting payments to administrative and priority tax claims, the combined Class 3(a) and Class 3(b) will receive a total of $265,020 in 60 monthly installments. The disbursing agent will make payments of $1667 per month in months 1 through 12, followed by $3,334 per month in months 13 through 36, $6,250 per month in months 37 through 48 and 7,500 per month in months 49 through 60. Each creditor will be paid on a pro rata basis based upon the combined total of all Class 3(a) and Class 3(b) allowed claims. The Debtor's best estimate is that members of the class will receive approximately 35% on their allowed claims. The percentage could increase if the allowed amount of the Class 3(a) claim is reduced. Class 3(c) consists of the equity interest holders in the Debtor. Peter Rogers is the only member of this class, having a 100% ownership interest. Mr. Rogers shall retain his equity interest in Mustang Shop of San Diego, Inc. Mr. Rogers shall contribute any and all claims he has against the Debtor, estimated to be $30,000, with the money to be used to help fund the Debtor's Plan and may constitute new value in satisfaction of the Absolute Priority Rule. The Plan will be funded from the Debtor's future income from business operations. A full-text copy of the Second Amended Subchapter V Plan dated January 15, 2025 is available at https://urlcurt.com/u?l=GH4C6R from PacerMonitor.com at no charge. Attorney for the Debtor: Andrew S. Bisom, Esq. The Bisom Law Group 300 Spectrum Center Drive, Suite 400 Irvine, CA 92618 Telephone: (714) 643-8900 Facsimile: (714) 643-8901 Email: abisom@bisomlaw.com About The Mustang Shop of San Diego The Mustang Shop of San Diego, Inc., operates a metal fabrication business that specializes in customizing vintage Mustang automobiles. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Cal. Case No. 24-00637) on Feb. 27,2024, with up to $50,000 in assets and up to $1 million in liabilities. Judge Christopher B. Latham presides over the case. Andrew S. Bisom, at Bisom Law Group, is the Debtor's bankruptcy counsel. N.C. 17-19 ADAMS: Taps Compass Greater NY as Real Estate Broker --------------------------------------------------------------- N.C. 17-19 Adams Street LLC seeks approval from the U.S. Bankruptcy Court for Southern District of New York to hire Joseph Lukic of Compass Greater NY, LLC as real estate broker. The broker will market and sell the Debtor's property located at 1730 Central Park Ave, 1F Yonkers, NY 10710. The broker's commission in an amount equal to 4 percent of the purchase price. Mr. Lukic assured the court that the firm is a disinterested person within the meaning of 11 U.S.C. Sec. 101. The broker can be reached through: Joseph Lukic Compass Greater NY, LLC 1082 Wilmot Road Scarsdale, NY 10583 Mobile: (914) 334-3805 Office: (914) 725-8763 Email: joe.lukic@compass.com About N.C. 17-19 Adams Street LLC N.C. 17-19 Adams Street LLC is the fee simple owner of the real property located at 17-19 Adams Street, Bedford Hills, NY 10507 having an appraised value of $1.6 million. N.C. 17-19 Adams Street LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 24-23097) on December 17, 2024. In the petition filed by Nuo Camaj, as sole owner and member, the Debtor reports total assets of $1,600,100 and total liabilities of $2,664,197. Honorable Bankruptcy Judge Sean H. Lane handles the case. The Debtor is represented by James J. Rufo, Esq. THE LAW OFFICE OF JAMES J. RUFO. NEUROONE MEDICAL: CEO Dave Rosa Shares Achievements in Letter ------------------------------------------------------------- NeuroOne Medical Technologies Corporation disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that on January 14, 2025, it published a Letter to Shareholders where President and Chief Executive Officer of the Company, Dave Rosa, discussed the Company's achievements, ongoing progress and strategy to create and deliver value. A copy of the Letter is available at: https://tinyurl.com/3uk4kke9 About NeuroOne Medical Technologies Headquartered in Eden Prairie, MN, NeuroOne Medical Technologies Corporation -- nmtc1.com -- is developing and commercializing minimally invasive and hi-definition solutions for EEG recording, brain stimulation and ablation solutions for patients suffering from epilepsy, Parkinson's disease, dystonia, essential tremors, chronic pain due to failed back surgeries and other related neurological disorders that may improve patient outcomes and reduce procedural costs. The Company may also pursue applications for other areas such as depression, mood disorders, pain, incontinence, high blood pressure, and artificial intelligence. Minneapolis, Minnesota-based Baker Tilly US, LLP, the Company's auditor since 2021, issued a "going concern" qualification in its report dated Dec. 17, 2024, citing that the Company had recurring losses from operations and an accumulated deficit, expects to incur losses for the foreseeable future and requires additional working capital. These are the reasons that raise substantial doubt about the Company's ability to continue as a going concern. As of June 30, 2024, NeuroOne Medical Technologies had $4,912,597 in total assets, $1,900,870 in total liabilities, and $3,011,727 in total stockholders' equity. NEW CENTURY: Hires Herbert S. Rosenblum PC as Special Counsel ------------------------------------------------------------- New Century Food Corporation seeks approval from the U.S. Bankruptcy Court for the Eastern District of Virginia to employ Herbert S. Rosenblum, PC as special counsel. The firm's services include: a. negotiating an assignment of the lease; b. providing counsel regarding mechanisms to provide adequate protection of the Landlord's interest; and c. seeking to obtain a letter of credit to assure Landlord of Debtor's ability to perform under the lease. The firm will be paid based upon its normal and usual hourly billing rates. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Herbert S. Rosenblum, Esq., a partner at Herbert S. Rosenblum, PC, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Herbert S. Rosenblum, Esq. Herbert S. Rosenblum, PC 526 King Street, Suite 211 Alexandria, VA 22314 Tel: (703) 684-0060 About New Century Food Corp. New Century Food Corp., d/b/a Diet-to-Go, is a diet meal delivery service that provides balanced, freshly prepared, real food for weight loss. New Century Food Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 24-11434) on August 5, 2024. In the petition filed by Hilton Davis, as co-owner, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. Bankruptcy Judge Klinette H. Kindred oversees the case. The Debtor is represented by Jonathan B. Vivona, Esq., at VIVONA PANDURANGI, PLC, as counsel. NEXTTRIP INC: Posts $2 Million Net Loss for Quarter Ended Nov. 30 ----------------------------------------------------------------- NextTrip Inc. filed with the U.S. Securities and Exchange Commission its Quarterly Report on Form 10-Q reporting a net loss of $2,009,263 on $74,635 of revenues for the three months ended November 30, 2024, compared to a net loss of $1,308,262 on $205,789 of revenues for the three months ended November 30, 2023. For the nine months ended November 30, 2024, the Company reported a net loss of $5,522,631 on $417,926 of revenues, compared to a net loss of $3,564,396 on $253,014 of revenues for the same period in 2023. As of November 30, 2024, the Company had $4,978,751 in total assets, $6,394,097 in total liabilities, and $1,415,346 in total stockholders' deficit. A full-text copy of the Company's Form 10-Q is available at: https://tinyurl.com/4jb8h46c About NextTrip Inc. NextTrip (formerly known as Sigma Additive Solutions, Inc. -- https://investors.nexttrip.com -- is an innovative technology company that is building next generation solutions to power the travel industry. NextTrip, through its subsidiaries, provides travel technology solutions with sales originating in the United States, with a primary emphasis on accommodations, hotels, flights, wellness, and all-inclusive travel packages. Its proprietary booking engine, branded as NXT2.0, provides travel distributors access to a sizeable inventory. NextTrip's NXT2.0 booking technology was built upon a platform acquired in June 2022, which previously powered the Bookit.com business, a well-established online leisure travel agent generating over $400 million in annual sales as recently as 2019 (pre-pandemic). Salt Lake City, Utah-based Haynie & Company, the Company's auditor since 2024, issued a "going concern" qualification in its report dated Sept. 4, 2024, citing that the Company has suffered recurring losses from operations and has a negative working capital that raise substantial doubt about its ability to continue as a going concern. NOBLE'S SONG: Amends Sale Motion to Extend Sale Closing Date ------------------------------------------------------------ Noble's Song, LLC filed an amended motion seeking authority to sell assets free and clear of liens, claims, and encumbrances, to extend the time for the Sale Closing to January 30, 2025 from January 15, 2025. About Noble's Song, LLC Noble's Song LLC is primarily engaged in acting as lessors of buildings used as residences or dwellings, primarily engaged in renting and leasing real estate properties. Noble's Song LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 24-10692) on Jan. 26, 2024. In the petition filed by Deborah A. Steffen, as managing member, the Debtor reported assets between $1 million and $10 million and estimated liabilities between $500,000 and $1 million. Judge Lori S Simpson presides over the case. The Debtor is represented by John D. Burns, Esq. at The Burns Law Firm, LLC. NORTH GEORGIA NURSING: Hires Candler Real Estate as Broker ---------------------------------------------------------- North Georgia Nursing Academy, LLC received approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Candler Real Estate Group, LLC as real estate broker. The broker will market and sell the Debtor's property located at 3632 Southland Drive, Flowery Branch, Georgia 30542. The broker will received a commission equal to 6 percent of the purchase price. As disclosed in the court filings, Candler Real Estate Group is a "disinterested person" within the meaning of 11 U.S.C. 101(14). The firm can be reached through: Brian Hughs Candler Real Estate Group, LLC 135 Maple Street Gainesville, GA 30501 Tel: (770) 988-6383 Email: brian@candler.com About North Georgia Nursing Academy, LLC North Georgia Nursing Academy, LLC is a nursing school that provides students with the knowledge and technical training required for a career in the medical field. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 24-20527) on May 6, 2024. In the petition signed by April Kidd, director and sole member, the Debtor disclosed $4,853,000 in assets and $2,646,720 in liabilities. Judge James R. Sacca oversees the case. Douglas Jacobson, Esq., at Law Offices of Douglas Jacobson, LLC, represents the Debtor as legal counsel. NOVA LIFESTYLE: Huge Energy International Holds 9.6% Stake ---------------------------------------------------------- Huge Energy International Limited and Ng Man Shek, in his capacity as the sole shareholder and director of Huge Energy, disclosed in a Schedule 13G/A filed with the U.S. Securities and Exchange Commission that as of October 25, 2024, they beneficially owned 700,000 shares of Nova Lifestyle's common stock, representing 9.6% of the 7,299,706 shares of Common Stock outstanding as of January 10, 2025, as reported by the Company to the Huge Energy. Huge Energy International Limited may be reached at: Ng Man Shek Unit B 19/F, Hillier Commercial Building 89-91 Wing Lok St. Sheung Wan, Hong Kong A full-text copy of Huge Energy's SEC Report is available at: https://tinyurl.com/4zusy2w3 About Nova Lifestyle Headquartered in Commerce, Calif., Nova LifeStyle, Inc. is a distributor of contemporary styled residential and commercial furniture incorporated into a dynamic marketing and sales platform offering retail as well as online selection and global purchase fulfillment. The Company monitors popular trends and products to create design elements that are then integrated into the Company's product lines that can be used as both stand-alone or whole-room and home furnishing solutions. Through its global network of retailers, e-commerce platforms, stagers, and hospitality providers, Nova LifeStyle also sells (through an exclusive third-party manufacturing partner) a managed variety of high-quality bedding foundation components. San Mateo, Calif.-based WWC, P.C., the Company's auditor since 2022, issued a "going concern" qualification in its report dated April 12, 2024, citing that the Company incurred a net loss for the years ended Dec. 31, 2023, and 2022, and the accumulated deficit increased from $36.71 million to $44.43 million from 2022 to 2023. These factors raise substantial doubt about the Company's ability to continue as a going concern. NUGEN GROUP: Seeks to Tap Alexis Fuentes-Hernandez as Counsel ------------------------------------------------------------- Nugen Group Incorporated seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to hire Alexis Fuentes-Hernandez, Esq., an attorney practicing in San Juan, Puerto Rico, to handle its Chapter 11 case. The attorney will be paid at his hourly rate of $250 plus reimbursement for expenses incurred. The attorney also received a retainer of $6,760. Mr. Fuentes-Hernandez 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 attorney can be reached at: Alexis Fuentes-Hernandez, Esq. P.O. Box 9022726 San Juan, PR 00901 Telephone: (787) 722 5216 Facsimile: (787) 722 5206 Email: fuenteslaw@icloud.com About Nugen Group Incorporated Nugen Group Incorporated is a Puerto Rico-based food services company operating in San Juan. Nugen Group Incorporated sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 25-00045) on January 9, 2025. In its petition, the Debtor reports estimated assets between $500,000 and $1 million and estimated liabilities between $1 million and $10 million. Alexis Fuentes-Hernandez of Fuentes Law Offices, LLC represents the Debtor as counsel. OMIMEX PETROLEUM: Hires Weycer Kaplan Pulaski as Counsel -------------------------------------------------------- Omimex Petroleum, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Weycer, Kaplan, Pulaski, & Zuber, P.C. as lead attorneys. The firm will render these services: (a) advise the Debtor of the rights, powers, duties, and obligations of the Debtor as debtor and debtor-in-possession in this Chapter 11 case; (b) take all necessary actions to protect and preserve the estates of the Debtor; (c) assist the Debtor in the investigation of the acts, conduct, assets, and liabilities of the Debtor, and any other matters relevant to the case; (d) investigate and potentially prosecute preference, fraudulent transfer, and other causes of action arising under the Debtor's avoidance powers and/or which are property of the estate; (e) prepare on behalf of the Debtor, as debtor-in-possession, all necessary motions, applications, answers, orders, reports, and papers in connection with the representation of the Debtor and the administration of the estates and this Chapter 11 case; (f) negotiate, draft, and present on behalf of the Debtor a plan for the reorganization of the Debtorâ€™s financial affairs, and the related disclosure statement, and any revisions, amendments, and so forth, relating to the foregoing documents, and all related materials; and (g) perform all other necessary legal services in connection with this Chapter 11 case and any other bankruptcy-related representation that the Debtor require. The firm will be paid at these hourly rates: Jeff Carruth, Shareholder $585 Other Shareholders $585 or less Associates $300 or less Paralegals $150 The Debtor paid the firm a retainer of $25,000. Jeff Carruth, Esq., an attorney at Wycer, disclosed in a court filing that his firm is a "disinterested person" as defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Jeff Carruth, Esq. Weycer, Kaplan, Pulaski & Zuber, P.C. 24 Greenway Plaza, Suite 2050 Houston, TX 77046 Tel: (713) 341-1158 Fax: (713) 961-5341 E-mail: jcarruth@wkpz.com About Omimex Petroleum, Inc. Omimex Petroleum Inc. provides energy and fertilizer services. It focuses on the exploration, development, acquisition and operation of oil and gas properties, and production of various fertilizers. Omimex Petroleum serves oil and gas industry internationally. Omimex sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 24-34018) on December 10, 2024, with $1 million to $10 million in both assets and liabilities. Christopher Chambers, sole director of Omimex, signed the petition. The Debtor is represented by Jeff Caruth, Esq., at Weycer, Kaplan, Pulaski & Zuber, P.C. OMNIQ CORP: Secures $1M in New Purchase Orders From Key Partner --------------------------------------------------------------- OMNIQ Corp. has announced $1 million in new purchase orders from a long-term partner in the logistics and manufacturing sector. This significant milestone underscores OMNIQ's commitment to delivering advanced, reliable technology solutions to its valued customers. Highlights of the Announcement: * The new purchase orders include OMNIQ's advanced hardware and service agreements designed to enhance operational efficiency. * Service agreements are expected to contribute recurring revenue, reinforcing OMNIQ's financial stability and long-term growth strategy. * This collaboration reflects the increasing trust in OMNIQ's solutions, bolstering the Company's position as a key partner in the logistics and manufacturing industries. Strategic Advances Supporting This Partnership: * OMNIQ's proprietary AI-driven solutions enable seamless integration of hardware and software, improving operational efficiencies in logistics and manufacturing. * The Company's advanced service agreements provide ongoing support and enhanced functionality, ensuring sustained performance and value for customers. * OMNIQ's dedication to delivering reliable, high-quality technology has solidified its role as a trusted long-term partner in mission-critical environments. Shai Lustgarten, president and CEO of OMNIQ, expressed his enthusiasm about this achievement: "This order represents another vote of confidence in our AI-powered solutions and long-standing commitment to operational excellence. By deepening our partnerships, we continue to innovate and deliver value, further positioning OMNIQ as a leader in automation and efficiency within critical industries." OMNIQ's diverse portfolio, including advanced AI algorithms for automated identification and management, empowers its customers to streamline operations while meeting modern challenges in logistics, manufacturing, and beyond. About Omniq Corp OmniQ Corporation -- www.omniq.com -- provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver real time object identification, tracking, surveillance, and monitoring for the Supply Chain Management, Public Safety, and Traffic Management applications. The technology and services provided by the Company help clients move people, and objects and manage big data safely and securely through airports, warehouses, schools, and national borders and in many other applications and environments. Salt Lake City, Utah-based Haynie & Company, the Company's auditor since 2019, issued a "going concern" qualification in its report dated April 1, 2024, citing that the Company has a deficit in stockholders' equity and has sustained recurring losses from operations. This raises substantial doubt about the Company's ability to continue as a going concern. OMNIQ CORP: Secures $1MM New Orders From Key Logistics Partner -------------------------------------------------------------- OMNIQ Corp. has announced $1 million in new purchase orders from a long-term partner in the logistics and manufacturing sector. This significant milestone underscores OMNIQ's commitment to delivering advanced, reliable technology solutions to its valued customers. Highlights: * The new purchase orders include OMNIQ's advanced hardware and service agreements designed to enhance operational efficiency. * Service agreements are expected to contribute recurring revenue, reinforcing OMNIQ's financial stability and long-term growth strategy. * This collaboration reflects the increasing trust in OMNIQ's solutions, bolstering the Company's position as a key partner in the logistics and manufacturing industries. Strategic Advances Supporting This Partnership: * OMNIQ's proprietary AI-driven solutions enable seamless integration of hardware and software, improving operational efficiencies in logistics and manufacturing. * The Company's advanced service agreements provide ongoing support and enhanced functionality, ensuring sustained performance and value for customers. * OMNIQ's dedication to delivering reliable, high-quality technology has solidified its role as a trusted long-term partner in mission-critical environments. Shai Lustgarten, President and CEO of OMNIQ, expressed his enthusiasm about this achievement: "This order represents another vote of confidence in our AI-powered solutions and long-standing commitment to operational excellence. By deepening our partnerships, we continue to innovate and deliver value, further positioning OMNIQ as a leader in automation and efficiency within critical industries." OMNIQ's diverse portfolio, including advanced AI algorithms for automated identification and management, empowers its customers to streamline operations while meeting modern challenges in logistics, manufacturing, and beyond. About Omniq Corp OmniQ Corporation -- www.omniq.com -- provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver real-time object identification, tracking, surveillance, and monitoring for the Supply Chain Management, Public Safety, and Traffic Management applications. The technology and services provided by the Company help clients move people, objects, and manage big data safely and securely through airports, warehouses, schools, and national borders and in many other applications and environments. Salt Lake City, Utah-based Haynie & Company, the Company's auditor since 2019, issued a "going concern" qualification in its report dated April 1, 2024, citing that the Company has a deficit in stockholders' equity and has sustained recurring losses from operations. This raises substantial doubt about the Company's ability to continue as a going concern. As of Sept. 30, 2024, OMNIQ had $37.19 million in total assets, $77.42 million in total liabilities, and a total stockholders' deficit of $40.23 million. PANZER BUILDING: Property Sale Proceeds to Fund Plan Payments ------------------------------------------------------------- Panzer Building Corp. filed with the U.S. Bankruptcy Court for the Southern District of New York a Disclosure Statement describing Chapter 11 Plan of Reorganization dated January 15, 2025. The Debtor owns the real property at 651 West 169th Street, New York, New York a/k/a 226/230 Fort Washington Avenue, New York, New York (the "Property"). The Property is a five-story building with about 20 residential apartments and 2 commercial units. The Debtor scheduled the Property with an $8,000,000 value. The Property is subject to a first mortgage lien held by 651 West 169th Lender LLC (the "Lender"), securing a debt in the total amount of $6,160,646 as of the Chapter 11 filing. Prior to the Chapter 11 filing, the Property was subject to a foreclosure action commenced by the Lender in the Supreme Court of New York County under Index No. 725426/2020 (the "Foreclosure"). A receiver was appointed pursuant to Order dated February 28, 2023 order. The Debtor now files this Disclosure Statement, together with its Plan and a separate motion to authorize the auction sale of the Property and approve bidding procedures. The proposed bidding procedures and Plan follow closely the Lender's proposals, and it is hoped that the Lender and the Court will accept these filings and permit the case to move on a dual track to market and sell the Property under Section 363 of the Bankruptcy Code and confirm the Plan so as to provide a mechanism for the distribution of the sale proceeds within the statutory framework of the Bankruptcy Code. Class 3 consists of the Allowed General Unsecured Claims. On the Effective Date, or as soon thereafter as may be practical, all Allowed Class 3 General Unsecured Claims shall receive a pro rata distribution from the $25,000 fund to be established with the Disbursing Agent at the Closing from the Lender's Contribution. In the unlikely event that Sale Proceeds remain after the Allowed Class 1 and Class 2 Claims are paid in full, the residual Sale Proceeds shall be paid pro rata to the allowed Class 3 creditors, until they are paid in full with all interest. Class 3 is impaired and entitled to vote on the Plan. Class 4 consists of the membership interests in the Debtor. No payments, if any, shall be made on account of equity interests in the Debtor unless and until all other secured, priority and unsecured claims have been paid in full with interest and the Debtor's Chapter 11 case has been fully administered and closed. While Class 4 equity interests are impaired under the Plan, as insiders their votes are not counted for purposes of confirmation of the Plan. The Plan shall be implemented and funded through the sale of the Property in accordance with the Auction sale process conducted pursuant to the terms of the Approved Bid Procedures. All decisions relating to the sale, including the qualification of bidders and the determination of the highest and best offer at the Auction shall be made jointly by the Debtor and the Lender in consultation with Northgate. A full-text copy of the Disclosure Statement dated January 15, 2025 is available at https://urlcurt.com/u?l=PeEoa8 from PacerMonitor.com at no charge. Counsel for the Debtor: Goldberg Weprin Finkel Goldstein LLP J. Ted Donovan, Esq. 125 Park Avenue, 12th Floor New York, New York 10017 (212) 221-5700 About Panzer Building Corp. Panzer Building Corp. owns a mixed-used apartment building located at 651 West 169th Street, New York, NY. The Property is located in the immediate vicinity of Columbia Presbyterian Hospital and is improved by a five-story elevator building with 20 residential apartments and two commercial stores, including a Subway fast food restaurant and Premier Deli. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 23-11924) on Dec. 4, 2023, with $8,064,000 in assets and $6,660,619 in liabilities. Nancy J. Haber, authorized representative, signed the petition. Judge John P. Mastando III presides over the case. Kevin Nash, Esq., at GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP, is the Debtor's legal counsel. PORT LOUIS: Seeks to Hire Achee Law Firm LLC as Counsel ------------------------------------------------------- Port Louis Owners Association Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of Louisiana to employ Achee Law Firm, LLC as counsel to handle its Chapter 11 case. The firm will be paid at these rates: Attorneys $250 per hour Paralegals $75 per hour The firm received from the Debtor a retainer of $5,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Renee L. Achee, Esq., a partner at Achee Law Firm, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Renee L. Achee, Esq. Achee Law Firm 200 Mariners Plaza Dr, Suite 201 Mandeville, LA 70448 Telephone: (985) 674-0033 Email: Rlaw641@aol.com About Port Louis Owners Association Inc. Port Louis Owners Association Inc. is dedicated to fostering a sense of belonging and unity among homeowners in this vibrant community. Port Louis Owners Association sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. La. Case No. 24-12511) on December 26, 2024. In its petition, the Debtor reported assets of $100,000 to $500,000 and liabilities of up to $50,000. Judge Meredith S. Grabill handles the case. The Debtor is represented by Renee L. Achee, Esq., at Achee Law Firm, L.L.C. PPS PROPERTY: Taps Robert C. Nisenson as Bankruptcy Counsel ----------------------------------------------------------- PPS Property 1213-1215 Putnam Ave. LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to hire Robert C. Nisenson, LLC to handle its Chapter 11 bankruptcy proceedings. The firm will be paid at the hourly rate of $350. It will be paid a retainer in the amount of $4,100 and $1,717 for filing fees. Robert C. Nisenson will also be reimbursed for reasonable out-of-pocket expenses incurred. Robert C. Nisenson, the firm's founding partner, assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Robert C. Nisenson can be reached at: Robert C. Nisenson, Esq. ROBERT C. NISENSON, LLC 10 Auer Court East Brunswick, NJ 08816 Tel: (732) 238-8777 Email: r.nisenson@rcn-law.com About PPS Property 1213-1215 Putnam Ave. LLC PPS Property 1213-1215 Putnam Ave. LLC is a single-asset real estate company based in Plainfield, New Jersey, operates a property at 1213-1215 Putnam Avenue. PPS Property 1213-1215 Putnam Ave. LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-10171) on January 7, 2025. In its petition, the Debtor reports estimated assets between $500,000 and $1 million and estimated liabilities between $100,000 and $500,000. Robert C. Nisenson, Esq., at Robert C. Nisenson, LLC, represents the Debtor as counsel. PRESBYTERIAN HOMES: Hires Kaplan Johnson Abate as Legal Counsel --------------------------------------------------------------- Presbyterian Homes and Services of Kentucky, Inc. seeks approval from the U.S. Bankruptcy Court for the Western District of Kentucky to employ Kaplan Johnson Abate & Bird LLP as counsel. The firm will render these services: a. give legal advice with respect to the Debtor's powers and duties as debtor in possession in the continued management of its financial affairs and estate assets; b. take all necessary action to protect and preserve the estate, including the prosecution of actions on behalf of the Debtor, the defense of any action commenced against the Debtor, negotiations concerning all litigation in which the Debtor is involved, if any, and examination of proofs of claims; c. prepare on behalf of the Debtor all necessary motions, answers, orders, reports, and other legal papers in connection with the administration of the Debtor's estate; and d. perform any and all other legal services for the Debtor in connection with this chapter 11 case and the formulation and implementation of Debtor's chapter 11 plan. The firm will receive $500 per month for post petition services. The firm will be paid at these rates: Attorneys $225 to $625 per hour Paraprofessionals $125 to $165 per hour The firm received a retainer in the amount of $45,000. J. Gabriel Dennery, Esq., an attorney at Kaplan Johnson Abate & Bird, disclosed in a court filing that the firm is a "disinterested person" as defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Charity S. Bird, Esq. Tyler Yeager, Esq. J. Gabriel Dennery, Esq. Kaplan Johnson Abate & Bird LLP 710 W. Main St., 4th Floor Louisville, KY 40202 Telephone: (502) 416-1630 Facsimile: (502) 540-8282 Email: cbird(a2kaplanjohnsonlaw.com tyeager@kaplanjohnsonlaw.com gdennery@kaplanjohnsonlaw.com About Presbyterian Homes and Services of Kentucky Inc. Presbyterian Homes and Services of Kentucky, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Ky. Case No. 24-33060) on December 15, 2024, with up to $10 million in both assets and liabilities. Hattie H. Wagner, president and chief executive officer, signed the petition. Judge Alan C. Stout oversees the case. Charity S. Bird, Esq., at Kaplan Johnson Abate & Bird, LLP, represents the Debtor as legal counsel. Hublar Enterprises, Inc., doing business as Comprehensive Business Solutions, is the chief reorganization officer (CRO). PRESBYTERIAN HOMES: Hires Peer House LLC as Bookkeeper ------------------------------------------------------ Presbyterian Homes and Services of Kentucky, Inc. seeks approval from the U.S. Bankruptcy Court for the Western District of Kentucky to employ Peer House, LLC as outsourced controller and bookkeeper. The firm will provide accounting services, including billing, accounts payable, debt covenants and administration, audits, monthly closings, internal control safeguards. The firm will also provide financial and communication services to the Debtor. The firm will be paid a monthly rate of $7,100. Ozlem Eva Davis, CPA, a partner at Peer House, LLC, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Ozlem Eva Davis, CPA Peer House, LLC 3320 Clays Mill Rd. Ste 113 Lexington, KY 40514 Tel: (859) 407-3131 About Presbyterian Homes and Services of Kentucky, Inc. Presbyterian Homes and Services of Kentucky, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Ky. Case No. 24-33060) on December 15, 2024, with up to $10 million in both assets and liabilities. Hattie H. Wagner, president and chief executive officer of Presbyterian, signed the petition. Judge Alan C. Stout oversees the case. Charity S. Bird, Esq., at Kaplan Johnson Abate & Bird, LLP, represents the Debtor as legal counsel. PROSPECT MEDICAL: Hires Omni Agent Solutions as Claims Agent ------------------------------------------------------------ Prospect Medical Holdings Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to hire Omni Agent Solutions, Inc. as claims agent. Omni Agent will oversee the distribution of notices and will assist in the maintenance, processing and docketing of proofs of claim filed in the Chapter 11 case of Dorchester Resources. The firm will also provide bankruptcy administrative services. The Debtor agrees to reimburse the firm's out-of-pocket expenses. The firm will serve monthly invoices to the Debtor. The firm received a retainer in the amount of $50,000. Paul Deutch, the executive vice president of Omni, disclosed in court filings that the firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Paul H. Deutch Omni Agent Solutions 1120 Avenue of the Americas, 4th Floor New York, NY 10036 Telephone: (212) 302-3580 Facsimile: (212) 302-3820 Email: paul.web@OmniAgnt.com About Prospect Medical Holdings Prospect Medical Holdings owns Roger Williams Medical Center, Our Lady of Fatima Hospital, and several other healthcare facilities. Prospect Medical Holdings sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 25-80002) on January 11, 2025. In the petition filed by Paul Rundell, as chief restructuring officer, the Debtor reports estimated assets and liabilities between $1 billion and $10 billion each. Judge: Hon. Stacey G Jernigan The Debtors' General Bankruptcy Counsel is Thomas R. Califano, Esq., and Rakhee V. Patel, Esq., at SIDLEY AUSTIN LLP, in Dallas, Texas, and William E. Curtin, Esq., Patrick Venter, Esq., and Anne G. Wallice, Esq., at SIDLEY AUSTIN LLP, in New York. The Debtors' Financial Advisor is ALVAREZ & MARSAL NORTH AMERICA, LLC. The Debtors' Investment Banker is HOULIHAN LIKEY, INC. The Debtors' Claims, Noticing & Solicitation Agent is OMNI AGENT SOLUTIONS, INC. RE WEALTH ADVISORS: Hires Shraiberg Page P.A. as Counsel -------------------------------------------------------- RE Wealth Advisors, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Shraiberg Page P.A. as counsel. The firm will render these services: (a) advise the Debtor generally regarding matters of bankruptcy law in connection with this case; (b) advise the Debtor of the requirements of the Bankruptcy Code, the Federal Rules of Bankruptcy Procedure, applicable bankruptcy rules pertaining to the administration of the case and U.S. Trustee Guidelines related to the daily operation of its business and administration of the estate; (c) represent the Debtor in all proceedings before this court; (d) prepare and review legal documents arising in this case; (e) negotiate with creditors, prepare and seek confirmation of a plan of reorganization and related documents, and assist the Debtor with implementation of any plan; and (f) perform all other legal services for the Debtor, which may be necessary herein. The firm will be paid at these rates: John Page, Attorney $650 per hour Attorneys $350 to $650 per hour Legal Assistants $275 per hour In addition, the firm will seek reimbursement for expenses incurred. Prior to the petition date, the firm received from the Debtor a total retainer of $15,000. Mr. Shraiberg disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Bradley S. Shraiberg, Esq. Eric Pendergraft, Esq. Shraiberg Page, PA 2385 NW Executive Center Dr., Ste. 300 Boca Raton, FL 33431 Telephone: (561) 443-0800 Facsimile: (561) 998-0047 Email: bss@slp.law ependergraft@slp.law About RE Wealth Advisors, LLC Wealth Advisors is a Single Asset Real Estate debtor (as defined in 11 U.S.C. Section 101(51B)). RE Wealth Advisors, LLC in Fort Lauderdale, FL, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. S.D. Fla. Case No. 24-22910) on Dec. 11, 2024, listing as much as $1 million to $10 million in both assets and liabilities. Patrick Dean as manager, signed the petition. Judge Scott M. Grossman oversees the case. SHAIBGERG PAGE PA serve as the Debtor's legal counsel. REW INTERPRISES: Craig Geno Named Subchapter V Trustee ------------------------------------------------------ The Acting U.S. Trustee for Region 8 appointed Craig Geno, Esq., at the Law Offices of Craig M. Geno, PLLC, as Subchapter V trustee for REW Interprises Inc. Mr. Geno will be paid an hourly fee of $250 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Geno declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Craig M. Geno, Esq. Law Offices of Craig M. Geno, PLLC 587 Highland Colony Parkway Ridgeland, MS 39157 Telephone: (601) 427-0048 Facsimile: (601) 427-0050 Email: cmgeno@cmgenolaw.com About REW Interprises REW Interprises Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tenn. Case No. 25-20087) on January 6, 2025, with up to $50,000 in assets and up to $1 million in liabilities. Judge M. Ruthie Hagan presides over the case. Ted I. Jones, Esq., at Jones & Garrett Law Firm represents the Debtor as bankruptcy counsel. REYNOSO VINEYARDS: Hires Bauch & Michaels LLC as Counsel -------------------------------------------------------- Reynoso Vineyards, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to employ Bauch & Michaels, LLC as its counsel. The firm will render these services: (a) advise the Debtor with respect to its powers and duties in the continued operation of its business and management of its property; (b) negotiate, prepare, and file documents in connection with the confirmation of the Debtor's plan of reorganization; (c) take all necessary action to protect and preserve the estate of the Debtor; (d) prepare, on behalf of the Debtor, all necessary legal papers; and (e) perform all other legal services in connection with the foregoing and in connection with this Chapter 11 case. The firm will be paid at these rates: Paul M. Bauch $500 per hour Partners/of Counsel $275 to $500 per hour Associates $275 per hour Paralegals $175 per hour In addition, the firm will seek reimbursement for expenses incurred. Paul Bauch, Esq., an attorney at Bauch & Michaels, disclosed in a court filing that his firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Paul M. Bauch, Esq. Bauch & Michaels, LLC 53 W. Jackson Boulevard, Suite 1115 Chicago, IL 60604 Telephone: (312) 588-5000 Email: pbauch@bmlawllc.com About Reynoso Vineyards, Inc. Reynoso Vineyards Inc. is a family-owned vineyard in the Alexander Valley of Sonoma County California. Reynoso Vineyards Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 24-15572) on October 18, 2024. In the petition filed by Joseph Reynoso, president, the Debtor disclosed between $10 million and $50 million in both assets and liabilities. Judge Deborah L. Thorne oversees the case. Michael J. Greco, Esq., serves as the Debtor's counsel. RISE MANAGEMENT: Hires Derbes Law Firm LLC as Special Counsel ------------------------------------------------------------- Rise Management, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Louisiana to employ Derbes Law Firm, LLC as special counsel. The Debtor needs the firm's legal assistance in connection with a case (Case No. 20-2445) filed in the District Court for the Parish of Orleans, State of Louisiana. The firm will be paid a contingency fee of 33 and 1/3 percent of all amounts which may be recovered. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Patrick S. Garrity, Esq., a partner at Derbes Law Firm, LLC, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Patrick S. Garrity, Esq. Derbes Law Firm, LLC 3027 Ridgelake Drive Metairie, LA 70002 Telephone: (504) 207-0920 Facsimile: (504) 832-0322 E-mail: pgarrity@derbeslaw.com About Rise Management, LLC Rise Management LLC is primarily engaged in renting and leasing real estate properties. The Debtor owns three properties located in New Orleans having a total current value of $1.3 million. Rise Management LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. La. Case No. 24-11535) on August 7, 2024. In the petition filed by Cullan Maumas of MagNola Ventures, LLC, the Debtor's manager, the Debtor reports total assets of $2,628,537 and total liabilities of $2,952,920. The Honorable Bankruptcy Judge Meredith S. Grabill oversees the case. The Debtor is represented by Patrick Garrity, Esq. at THE DERBES LAW FIRM, LLC. RIVERA FAMILY: Seeks to Hire TAP Consulting as Accountant --------------------------------------------------------- Rivera Family Holdings LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Wisconsin to employ TAP Consulting, LLC to provide accounting and feasibility services for the purpose of confirming a Chapter 11 plan. Sali Sheafor, CPA, a partner at TAP, has agreed to an hourly rate of $225 for her services. Ms. Sheafor disclosed in a court filing that her firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Sali L. Sheafor, CPA AP Consulting, LLC 3934 Circle Drive Holmen, WI 54636 Tel: (608) 519-3072 Email: sali@tapconsultantlax.com About Rivera Family Holdings LLC Rivera Family Holdings LLC is a limited liability company. Rivera Family Holdings LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wis. Case No. 24-12559) on December 20, 2024. In the petition filed by Lynnae Rivera and Filiberto Rivera, as partners, the Debtors report estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Catherine J. Furay handles the case. The Debtor is represented by Galen W. Pittman, Esq. at PITTMAN & PITTMAN LAW OFFICES, LLC. ROCKY MOUNTAIN: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------- Debtor: Rocky Mountain Imports, LLC d/b/a Pikes Peak Rock Shop 451 Forest Edge Rd Woodland Park, CO 80863 Business Description: Rocky Mountain Imports, doing business as Pikes Peak Rock Shop, is a direct importer and wholesale distributor of minerals, fossils and jewelry. Its customers include national parks, museums, gift shops, multi- store chains, science and nature shops, rock & gem shops, trading posts and local rock-hounds. The company directly imports from Brazil, Peru, China, Morocco, and India, and distributes its products to businesses across the United States and Canada. Chapter 11 Petition Date: January 21, 2025 Court: United States Bankruptcy Court District of Colorado Case No.: 25-10311 Judge: Hon. Michael E Romero Debtor's Counsel: Kevin S. Neiman, Esq. LAW OFFICES OF KEVIN S. NEIMAN, PC 999 18th Street, Suite 1230 S Denver, CO 80202 Tel: (303) 996-8637 Email: kevin@ksnpc.com Total Assets: $96,089 Total Liabilities: $1,800,938 The petition was signed by Gary Greenwald as managing member. A copy of the Debtor's list of 20 largest unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/N5GXKNQ/Rocky_Mountain_Imports_LLC__cobke-25-10311__0004.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/NKPAP5Y/Rocky_Mountain_Imports_LLC__cobke-25-10311__0001.0.pdf?mcid=tGE4TAMA SAFE & GREEN: Signs LOI to Acquire New Asia Holdings ---------------------------------------------------- Safe & Green Holdings Corp. announced the execution of a binding Letter of Intent to acquire 100% of the outstanding securities of New Asia Holdings Inc. The acquisition includes a diversified energy company Olenox Corp., a wholly owned subsidiary of NAHD. The acquisition also includes Machfu.com, a wholly owned subsidiary of Olenox, specializing in secure connectivity and automation solutions for industries such as oil & gas, utilities, and manufacturing. Olenox's operations include three vertically integrated business units: Oil & Gas Production, Energy Services, and Energy Technologies. Olenox specializes in acquiring and revitalizing underdeveloped energy assets, leveraging proprietary technologies and operational expertise to enhance production efficiency, lower costs, and minimize environmental impact. Key achievements of Olenox include expanding production from 113 barrels of oil equivalent per day (BOE/day) to a projected 700 BOE/day through increased operational capacity and innovative technologies. By focusing on distressed and neglected oil and gas fields in Texas, Oklahoma, and Kansas, Olenox has created a scalable model that addresses industry inefficiencies while maintaining a strong commitment to sustainability. Following the acquisition of NAHD, Safe & Green will continue to maintain its current operations and fabrication of modular structures. In addition, the Company plans to leverage its existing facilities, including its Waldron facility in Durant, Oklahoma, to support its new operations in the oil and gas industry. Company management expects that this dual focus will enable the combined entity to achieve greater efficiencies and benefit from economies of scale across its business segments. This approach aligns with the Company's overarching vision to lead advancements in sustainable energy, food, water, and shelter as essential pillars for fostering global resilience. Olenox's proprietary plasma pulse and ultrasonic cleaning tools set it apart from traditional energy players. These advanced technologies allow for cost-effective recovery of oil and gas while reducing the environmental footprint, ensuring alignment with global sustainability trends. Olenox's Energy Services division, with its customized service rigs and reclamation capabilities, enhances the value of its production assets while generating additional revenue streams through third-party contracts. Machfu.com is a trailblazer in the Industrial IoT sector. Its flagship product, the MachGateway, and Edge-to-Enterprise software enable seamless integration of legacy systems with modern IoT platforms. With over 20,000 gateways deployed globally, Machfu has proven its ability to deliver real-time data analytics, predictive maintenance, and operational efficiency to industrial clients. Machfu's technology supports cost reduction and productivity gains by minimizing downtime and optimizing equipment performance. For example, its Bluetooth IoT gateways connect over 125 sensors per device, enabling scalable, low-cost solutions for monitoring and control in industrial environments. These capabilities directly address the growing demand for automation and digital transformation in energy and other key industries, creating high-margin recurring revenue opportunities for the combined entity. In connection with the transaction, Michael McLaren, recently appointed CEO of Safe & Green, as well as founder and CEO of Olenox, will assume the additional role of Chairman of Safe & Green, succeeding Paul Galvin, who will remain on Safe & Green's board of directors. McLaren brings decades of experience in energy production, sustainability, and innovation, making him uniquely positioned to lead the company's expanded vision. Michael McLaren stated, "We believe that the combination of Olenox and Machfu with Safe & Green will create a powerful, diversified entity with robust growth potential in both the energy and technology sectors. Olenox provides stable and growing revenues from its oil and gas assets, complemented by the scalability of Machfu's recurring IoT revenue streams. We believe that this synergy will position the combined company to capture significant market opportunities in renewable energy, digital transformation, and industrial automation. By maintaining Safe & Green's current modular operations, while leveraging facilities such as our Waldron facility to support oil and gas activities, we expect to achieve greater operational efficiencies and economies of scale. For Safe & Green shareholders, this transaction represents a strategic pivot toward high-growth markets. Olenox's proven financial performance, including strong asset utilization and innovative technologies, enhances the Company's equity position and profitability potential. Machfu's advanced IoT capabilities further diversify the revenue base, providing exposure to a rapidly growing global market. I am honored to lead this next chapter and deeply appreciate Paul Galvin's exceptional leadership and dedication. I look forward to working closely with Paul and the board to realize our shared vision." Paul Galvin added, "This transaction marks an exciting milestone for Safe & Green and its shareholders. The combination of Olenox and Machfu with Safe & Green creates a powerful, diversified entity with robust growth potential in both the energy and technology sectors. We expect that this transaction will expand the Company's addressable markets, increase operational efficiencies, and position the combined entity as a leader in innovative, sustainable solutions. Importantly, we believe leveraging existing facilities to support both modular and oil and gas operations will maximize efficiency and drive economies of scale. Moreover, Olenox is already profitable and on a strong growth trajectory. By combining their operations with our own, I am confident this transaction will drive significant value for shareholders. Furthermore, we believe this transaction will help address the Company's Nasdaq listing deficiency by strengthening our financial position. I am also thrilled to welcome Mike McLaren as Chairman as we enter this new phase of growth and innovation." About Safe & Green Safe & Green Holdings Corp. is a modular solutions company headquartered in Miami, Florida. The company specializes in the development, design, and fabrication of modular structures, focusing on safe and green solutions across various industries. The Woodlands, Texas-based M&K CPAS, PLLC, the Company's auditor since 2024, issued a "going concern" qualification in its report dated May 7, 2024, citing that the Company experienced net losses since inception, negative working capital, and negative cash flows from operations, which raise substantial doubt about the Company's ability to continue as a going concern. Safe & Green Holdings reported net losses of $26,757,906 and $7,089,242 for the fiscal years ended December 31, 2023, and 2022, respectively. As of June 30, 2024, Safe & Green Holdings had $20,928,509 in total assets, $25,717,784 in total liabilities, and $4,789,275 in total stockholders' deficit. SAM'S CRAB: Paula Beran Named Subchapter V Trustee -------------------------------------------------- The Acting U.S. Trustee for Region 4 appointed Paula Beran, Esq., at Tavenner & Beran, PLC as Subchapter V trustee for Sam's Crab House, LLC. Ms. Beran will be paid an hourly fee of $480 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Beran declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Paula S. Beran, Esq. Tavenner & Beran, PLC 20 North 8th Street Richmond, Virginia 23219 Phone: (804) 783-8300 Email: Beran@TB-LawFirm.com About Sam's Crab House Sam's Crab House LLC is a restaurant operator based in Richmond, Va. Sam's Crab House sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 25-30071) on January 9, 2025. In its petition, the Debtor reported estimated assets between $50,000 and $100,000 and estimated liabilities between $100,000 and $500,000. Kimberly Ann Kalisz of Conway Law Group, PC represents the Debtor as counsel. SANUWAVE HEALTH: Expects Q4 FY24 Revenue of Up to $10.3-Mil. ------------------------------------------------------------ SANUWAVE Health, Inc. announced that revenues for the fourth quarter of 2024 are expected to be in the range of $10.1 to $10.3 million, an increase of 44% to 47% over Q4 2023 and consistent with the upper end of the range of guidance given in the Company's Q3 2024 earnings release from November 8, 2024. "Q4 was our third consecutive all-time record revenue quarter and brings us to annual revenue growth in the neighborhood of 60%," said CEO Morgan Frank. "Obviously, this is a neighborhood we're pleased to be in. 2024 has been a breakout year for Sanuwave and a strong first step in the pursuit of our plan of rapid, profitable growth. We have never been more excited about where we are or for the prospects of what's to come. The Company plans to release its full Q4 and annual results in or around the 3rd week of March and we look forward to speaking with you then to give you a more complete update on our quarterly performance and our future plans and guidance." The preliminary revenue results are based on management's initial analysis of the fourth quarter ended December 31, 2024, and may be subject to adjustments based on the Company's completion of its quarter-end and annual financial close process. About SANUWAVE Health Headquartered in Suwanee, Georgia, SANUWAVE Health, Inc. (OTCQB:SNWV) -- http://www.SANUWAVE.com-- is an ultrasound and shock wave technology company using patented systems of noninvasive, high-energy, acoustic shock waves or low intensity and non-contact ultrasound for regenerative medicine and other applications. The Company's focus is regenerative medicine utilizing noninvasive, acoustic shock waves or ultrasound to produce a biological response resulting in the body healing itself through the repair and regeneration of tissue, musculoskeletal, and vascular structures. The Company's two primary systems are UltraMIST and PACE. UltraMIST and PACE are the only two Food and Drug Administration (FDA) approved directed energy systems for wound healing. New York, NY-based Marcum LLP, the Company's auditor since 2018, issued a "going concern" qualification in its report dated March 21, 2024, citing that the Company has incurred recurring losses and needs to raise additional funds to meet its obligations, sustain its operations, and to resolve the events of default on the Company's debt. These conditions raise substantial doubt about the Company's ability to continue as a going concern. SANUWAVE Health reported a net loss of $25.81 million for the year ended Dec. 31, 2023, compared to a net loss of $10.29 million for the year ended Dec. 31, 2022. As of September 30, 2024, SANUWAVE Health had $21.8 million in total assets, $82.1 million in total liabilities, and $60.3 million in total stockholders' deficit. SEBASTIAN HABIB: Seeks to Hire Jones & Walden as Attorney --------------------------------------------------------- Sebastian Habib LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to hire Jones & Walden LLC as attorneys. The firm's services include: a. prepare pleadings and applications; b. conduct of examination; c. advise the Debtor of its rights, duties and obligations as a debtor-in-possession; d. consult with the Debtor and representing the Debtor with respect to a Chapter 11 plan; e. perform those legal services incidental and necessary to the day-to-day operations of the Debtor's business; and f. take any and all other action incident to the proper preservation and administration of the Debtor's estate and business. Jones & Walden will be paid at these rates: Attorney $300 to $500 per hour Paralegals and law clerks $110 to $200 per hour As of the petition date, the firm holds a retainer of $15,327.50. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Leon Jones, Esq., a partner at Jones & Walden LLC, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Leon S. Jones, Esq. Jones & Walden LLC 699 Piedmont Avenue, NE Atlanta, GA 30308 Tel: (404) 564-9300 Email: ljones@joneswalden.com About Sebastian Habib LLC Sebastian Habib LLC is a domestic limited liability company headquartered in Woodstock, Georgia. Sebastian Habib LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-50148) on January 6, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Lisa Ritchey Craig handles the case. Adam E. Ekbom, Esq. of Jones & Walden LLC represents the Debtor as counsel. SHIFTPIXY INC: Gets OK to Hire Sichenzia Ross as Special Counsel ---------------------------------------------------------------- Shiftpixy, Inc. and its affiliates received approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Sichenzia Ross Ference Carmel, LLP as special counsel, retroactive to Oct. 28, 2024. The firm facilitates compliance with certain securities laws and regulations necessitated by the initiation of this bankruptcy proceeding. Sichenzia has agreed to be compensated in accordance with the provisions set forth in 11 U.S.C. Sec. 330 and subject to order of this Court. Gregory Sichenzia a, Esq., a partner at Sichenzia, disclosed in a court filing that his firm neither holds nor represents any interest adverse to the Debtor and its estate. The firm can be reached through: Gregory Sichenzia, Esq. Sichenzia Ross Ference Kesner LLP 1185 Avenue of the Americas, 37th Floor New York, NY 10036 Phone: (212) 930-9700 x 621 Email: rpreite@srfkllp.com About ShiftPixy Inc. ShiftPixy Inc. -- https://www.shiftpixy.com -- is an employment agency based in Miami, Florida. ShiftPixy Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 24-21209) on October 28, 2024. In the petition filed by Jonathan Feldman, as chief restructuring officer, the Debtor reports estimated assets between $500,000 and $1 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Laurel M. Isicoff handles the case. The Debtor is represented by Isaac M Marcushamer, Esq. at DGIM Law, PLLC. SICHEM INC: Seeks to Hire Demarco-Mitchell PLLC as Legal Counsel ---------------------------------------------------------------- Sichem, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to hire Demarco Mitchell PLLC as counsel. The firm will provide these services: a. take all necessary action to protect and preserve the Estate, including the prosecution of actions on its behalf, the defense of any actions commenced against it, negotiations concerning all litigation in which it is involved, and objecting to claims; b. prepare on behalf of the Debtor all necessary motions, applications, answers, orders, reports, and papers in connection with the administration of the estate; c. formulate, negotiate, and propose a plan of reorganization; and d. perform all other necessary legal services in connection with these proceedings. e. formulate, negotiate, and propose a plan of reorganization; and f. perform all other necessary legal services in connection with these proceedings. The firm will be paid at these rates: Robert T. DeMarco, Attorney $400 per hour Michael S. Mitchell, Attorney $300 per hour Barbara Drake, Paralegal $125 per hour The firm received from the Debtor a retainer in the amount of $10,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Robert T. DeMarco, Esq., a partner at Demarco-Mitchell PLLC, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Robert T. DeMarco, Esq. Michael S. Mitchell, Esq. Demarco Mitchell PLLC 12770 Coit Road, Suite 850 Dallas, TX 75251 Tel: (972) 578-1400 Fax: (972) 346-6791 Email robert@demarcomitchell.com mike@demarcomitchell.com About Sichem Inc. Sichem Inc. provides anti-bacterial coatings, anti-virus coatings and anti-fungi coatings and help prevent the spread of harmful microorganisms. Sichem Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 24-44555) on December 17, 2024. In the petition filed by Ademola Oyerokun, as president, the Debtor reports estimated assets between $100,000 and $500,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Ademola Oyerokun handles the case. The Debtor is represented by Robert T DeMarco, Esq. at DEMARCO MITCHELL, PLLC. SILVER AIRWAYS: U.S. Trustee Unable to Appoint Committee -------------------------------------------------------- The U.S. Trustee for Region 21, until further notice, will not appoint an official committee of unsecured creditors in the Chapter 11 case of Silver Airways, LLC, according to court dockets. About Silver Airways Silver Airways, LLC is a regional U.S. airline operating flights between gateways in Florida, the Southeast and The Bahamas. The Silver Airways fleet is comprised of modern, state of the art aircraft with reliable, fuel-efficient turbo-prop engines. In the summer of 2018, Silver completed the acquisition of Seaborne Airlines, a San Juan, Puerto Rico-based air carrier serving destinations throughout Puerto Rico, the U.S. Virgin Islands, and other countries in the Caribbean. Seaborne provides connections throughout the Caribbean via the carrier's hub in San Juan, while also serving as the most critical link between St. Croix and St. Thomas with the carrier's seaplane operation. Silver Airways and Seaborne Virgin Islands, Inc. filed Chapter 11 petitions (Bankr. S.D. Fla. Lead Case No. 24-23623) on December 30, 2024. At the time of the filing, Silver Airways reported $100 million to $500 million in assets and liabilities while Seaborne reported $1 million to $10 million in assets and liabilities. Judge Peter D. Russin oversees the cases. Brian P. Hall, Esq., at Smith, Gambrell & Russell, LLP is the Debtors' legal counsel. SMRK PROPERTY: Taps Keller Williams as Real Estate Broker --------------------------------------------------------- SMRK Property, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Michigan to employ Ravpreet Singh and Meredith Herbert of Keller Williams City View as real estate brokers. The brokers will list and sell the Debtor's interest in 414 Rio Concho Drive, San Angelo TX 76903. The broker's fee is 3 percent if no co-broker/buyers broker is involved and will change to 4 percent if co-broker/buyers broker is involved. As disclosed in the court filings, the brokers do not represent any entity having an adverse interest in connection with the case of the Chapter 11 Debtor, and are disinterested. The brokers can be reached at: Ravpreet Singh Meredith Herbert Keller Williams City View Joseph H Sloan III 15510 Vance Jackson, Suite 104, San Antonio, TX 78249 Phone: (210) 696-9996 Email: Rav@SinghCommercialGroup.com About SMRK Property, LLC SMRK Property LLC is a Single Asset Real Estate debtor (as defined in 11 U.S.C. Section 101(51B)). SMRK Property LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mich. Case No. 24-51341) on December 2, 2024. In the petition filed by Sam Muraeky, as principal, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Mark A. Randon handles the case. The Debtor is represented by Robert N. Bassel, Esq. SOUTHERN PINESTRAW: Seeks to Hire Ruff & Cohen P.A. as Attorney --------------------------------------------------------------- Southern Pinestraw Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Florida to hire the law firm of Ruff & Cohen, P.A. as attorneys. The firm's services include: a. advising and counseling the debtor-in-possession concerning the operation of its business in compliance with Subchapter V of Chapter 11, the operating guidelines of the Office of the U.S. Trustee, and orders of this Court. b. prosecuting and defending any causes of action on behalf of the debtor-in-possession; c. preparing all necessary applications, motions, reports, and other legal papers; d. assisting in the formulation of a plan reorganization; e. assisting in obtaining confirmation of the plan; f. assisting in obtaining a discharge and a final decree. The firm will be paid at the rate of $350 per hour. The firm received a retainer in the amount of $25,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Lisa C. Cohen, Esq., a partner at Ruff & Cohen, P.A., disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Lisa C. Cohen, Esq. Law Firm of Ruff & Cohen, P.A 4010 Newberry Road, Suite G Tel: (352) 376-3601 Fax: (352) 378-1261 Email: lcohen@ruffcohen.com About Southern Pinestraw Southern Pinestraw Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Fla. Case No. 25-10003) on January 7, 2025. In its petition, the Debtor reported $500,000 to $1 million in both assets and liabilities. Lisa Caryl Cohen, Esq., at Ruff & Cohen, P.A. represents the Debtor as legal counsel. SPECIAL EFFECTS: Taps Goldbach Law Group as Insolvency Counsel -------------------------------------------------------------- Special Effects Unlimited, Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire Goldbach Law Group as general insolvency counsel. The firm will render these services: (a) provide pre-petition counseling, several meetings and phone calls, discussions concerning the various chapter, the benefits and disadvantages of the filing of a Chapter 11 case and the Debtor's rights and responsibilities; (b) prepare document; (c) consult the Debtor concerning documents needed and reports to be prepared and consultation with other professionals to be employed; (d) assist the Debtor in preparation of documents for compliance with the requirements of the Office of the United States Trustee; (e) negotiate with secured and unsecured creditors regarding the amount and payment of their claims; (f) discuss with the Debtor concerning Plan of Reorganization; (g) prepare the Chapter 11 plan of reorganization and any amendments/changes to the same; (h) submission of ballots to creditor, tally of ballots and submissions to the court; (i) response to any objections to plan; and (j) response to any options for relief from stay, motions to dismiss or any other motions or contested matters. The firm will render services at the hourly rate of $550. The firm received a retainer of $15,000 from the Debtor. Marc Aaron Goldbach, Esq., attorney at Goldbach Law Group, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Marc Aaron Goldbach, Esq. Goldbach Law Group 111 W. Ocean Blvd., Suite 400 Long Beach, CA 90802 Telephone: (562) 696-058 Facsimile: (888) 771-5425 Email: marc.goldbach@goldbachlaw.com About Special Effects Unlimited, Inc. Special Effects Unlimited, Inc. is based in Sun Valley, California, operates as a specialized rental provider of film and entertainment industry effects equipment, including weather effects, wind machines, fog systems, and physical effects equipment. The company maintains operations at 8942 Lankershim Blvd. and serves the greater Los Angeles entertainment market. Special Effects Unlimited, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-10015) on January 5, 2025 In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $500,000 and $1 million. Honorable Bankruptcy Judge Victoria S. Kaufman handles the case. Marc A. Goldbach of Goldbach Law Group represents the Debtor as counsel. SPIRIT AIRLINES: Committee Seeks to Hire Willkie Farr as Counsel ---------------------------------------------------------------- The official committee of unsecured creditors of Spirit Airlines, Inc. and its affiliates seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to employ Willkie Farr & Gallagher LLP as counsel. The firm's services include: a. advising the Committee in connection with its powers and duties under the Bankruptcy Code, the Bankruptcy Rules, and the Local Rules; b. assisting and advising the Committee relative to the administration of the Chapter 11 Cases; c. attending meetings and negotiating with the representatives of the Debtors and other parties in interest; d. assisting and advising the Committee in its examination and analysis of the conduct of the Debtors' affairs; e. assisting and advising the Committee in connection with any sale of the Debtors' assets pursuant to section 363 of the Bankruptcy Code; f. assisting the Committee in the review, analysis, and negotiation of any chapter 11 plan(s) of reorganization or liquidation that may be filed and assisting the Committee in the review, analysis, and negotiation of the disclosure statement accompanying any such plan(s); g. taking all necessary actions to protect and preserve the interests of the Committee, including: (i) possible prosecution of actions on its behalf; (ii) if appropriate, negotiations concerning all litigation in which the Debtors are involved; and (iii) if appropriate, the review and analysis of claims filed against the Debtors' estates; h. generally preparing on behalf of the Committee all necessary motions, applications, answers, orders, reports, replies, responses, and papers in support of positions taken by the Committee; i. appearing, as appropriate, before the Court, appellate courts, and the U.S. Trustee, and protecting the interests of the Committee before those courts and before the U.S. Trustee; and j. performing all other necessary legal services in the Chapter 11 Cases. The firm will be paid at these rates: Partners and Senior Counsel $1,825 to $2,500 per hour Counsel $1,650 per hour Associates $535 to $1,625 per hour Paraprofessionals $380 to $650 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. In addition, the firm will seek reimbursement for its out-of-pocket expenses. The following information is provided in response to the request for additional information set forth in Paragraph D.1 of the Fee Guidelines: Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Response: No. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response: No. Question: If you represented the client in the 12 months pre-petition, disclose your billing rates and material financial terms for the pre-petition engagement, including any adjustments during the 12 months prepetition. If your billing rates and material financial terms have changed post-petition, explain the difference and the reasons for the difference. Response: Willkie did not represent the Committee prior to the Chapter 11 Cases. Question: Has your client approved your prospective budget and staffing plan, and, if so, for what budget period? Response: The Committee and Willkie expect to develop a prospective budget and staffing plan to comply with the U.S. Trustee's requests for information and additional disclosures, and any other orders of the Court, recognizing that in the course of the Chapter 11 Cases there may be unforeseeable fees and expenses that will need to be addressed by the Committee and Willkie. Brett H. Miller, Esq., a partner at Willkie Farr & Gallagher LLP, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Brett H. Miller, Esq. Todd M. Goren, Esq. Christine Thain, Esq. Willkie Farr & Gallagher LLP 787 Seventh Avenue New York, NY 10019 Telephone: (212) 728-8000 Facsimile: (212) 728-8111 About Spirit Airlines, Inc. Spirit Airlines, Inc. (NYSE: SAVE) is a low-fare carrier committed to delivering the best value in the sky by offering an enhanced travel experience with flexible, affordable options. Spirit serves destinations throughout the United States, Latin America and the Caribbean with its Fit Fleet, one of the youngest and most fuel-efficient fleets in the U.S. On the Web: http://wwww.spirit.com/ Spirit Airlines filed Chapter 11 petition (Bankr. S.D.N.Y. Case No. 24-11988) on Nov. 18, 2024, after reaching terms of a pre-arranged plan with bondholders. At the time of the filing, Spirit Airlines reported $1 billion to $10 billion in both assets and liabilities. Judge Sean H. Lane oversees the case. The Debtor tapped Davis Polk & Wardwell, LLP as legal counsel; Alvarez & Marsal North America, LLC as financial advisor; and Epiq Corporate Restructuring, LLC as claims agent. Paul Hastings, LLP and Ducera Partners, LLC serve as legal counsel for the Ad Hoc Group of Convertible Noteholders. Akin Gump Strauss Hauer & Feld, LLP and Evercore Group LLC represent the Ad Hoc Group of Senior Secured Noteholders. STAFFING 360: Extends Credit Agreement Expiry to Feb. 1, 2025 ------------------------------------------------------------- Staffing 360 Solutions, Inc., filed a Form 8-K with the Securities and Exchange Commission, disclosing that it entered into Amendment No. 37 to its Credit and Security Agreement and Limited Waiver, effective Jan. 10, 2025. The amendment involves the Company, as Parent, and various subsidiaries as borrowers, including Monroe Staffing Services, LLC, Faro Recruitment America, Inc., Lighthouse Placement Services, Inc., Key Resources, Inc., Headway Workforce Solutions, Inc., Headway Employer Services LLC, Headway Payroll Solutions, LLC, Headway HR Solutions, Inc., and NC PEO Holdings, LLC. MidCap Funding IV Trust serves as the agent for the lenders. The amendment extends the Commitment Expiry Date to Feb. 1, 2025. Third Omnibus Amendment and Reaffirmation Agreement On Jan. 15, 2025, the Company entered into that certain Third Omnibus Amendment and Reaffirmation Agreement to the Note Documents with Jackson Investment Group, LLC and the guarantors party thereto, which such Amendment Agreement, among other things: (i) extends the maturity date of that certain Third Amended and Restated Note and Warrant Purchase Agreement, by and between the Company and Jackson, dated as of Oct. 27, 2022, as amended by the First Omnibus Amendment and Reaffirmation Agreement to the Note Documents, dated as of Aug. 30, 2023, and the Second Omnibus Amendment and Reaffirmation Agreement to the Note Documents, dated as of Sept. 18, 2024, to the earlier of (a) Feb. 15, 2025, or (b) the date of the acceleration of the maturity of any of the Notes (as defined below) and (ii) extends the maturity date of that certain (a) Third Amended and Restated 12% Senior Secured Note due Oct. 14, 2024, dated as of Oct. 27, 2022, and (b) 12% Senior Secured Promissory Note due Oct. 14, 2024, dated as of Aug. 30, 2023, to Feb. 15, 2025. Limited Consents to Intercreditor Agreement On Jan. 15, 2025, in connection with Amendment No. 37, the Company entered into a Limited Consent to the Intercreditor Agreement, dated as of Sept. 15, 2017, as amended, by and between the Company and Jackson, which such Limited Consent permits the Company's entry into Amendment No. 37. About Staffing 360 Headquartered in New York, Staffing 360 Solutions, Inc. -- http://www.staffing360solutions.com-- is a domestic staffing company engaged in the acquisition of U.S.-based staffing companies. The Company's targeted consolidation model is focused specifically on the accounting and finance, information technology ("IT"), engineering, administration and light industrial disciplines. New York, NY-based RBSM LLP, the Company's auditor since 2024, issued a "going concern" qualification in its report dated June 11, 2024, citing that the Company has incurred substantial operating losses and will require additional capital to continue as a going concern. This raises substantial doubt about the Company's ability to continue as a going concern. STEPHENS GARAGE: Seeks to Hire Lugenbuhl Wheaton as Legal Counsel ----------------------------------------------------------------- Stephens Garage Building LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Louisiana to hire Lugenbuhl, Wheaton, Peck, Rankin & Hubbard as general bankruptcy counsel. The firm will render these services: a. assist, advise, and represent the Debtor in its consultations with estate constituents regarding the administration of this Chapter 11 Case; b. assist, advise, and represent the Debtor in any manner relevant to the Debtor's financing needs, asset dispositions, and leases and other contractual obligations; c. assist, advise, and represent the Debtor in any issues associated with the acts, conduct, assets, liabilities, and financial condition of the Debtor; d. assist, advise, and represent the Debtor in the negotiation, formulation, and drafting of any plan of reorganization and disclosure statement; e. assist, advise, and represent the Debtor in the performance of its duties and the exercise of its powers under the Bankruptcy Code, the Bankruptcy Rules, and any applicable local rules and guidelines; and f. provide such other necessary advice and services as the Debtor may require in connection with this Chapter 11 Case. The firm's current hourly rates are as follows: Shareholders $350 to $700 Counsel $225 to $500 Associates $225 to $500 Paraprofessionals $120 The firm received from the Debtor a retainer in the amount of $40,000 and an advance payment of $1,738 for the filing fees. Lugenbuhl Wheaton is a disinterested person according to Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached through: Benjamin W. Kadden, Esq. Lugenbuhl, Wheaton, Peck, Rankin & Hubbard 601 Poydras St., Suite 2775 New Orleans, LA 70130 Tel: (504) 568-1990 Fax: (504) 310-9195 About Stephens Garage Building LLC Stephens Garage Building LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. La. Case No. 24-12467) on December 18, 2024. In the petition filed by Marcel Wisznia, as manager and managing member, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge Meredith S. Grabill handles the case. The Debtor is represented by Stewart F. Peck, Esq. at LUGENBUHL, WHEATON, PECK, RANKIN & HUBBARD. SWC INDUSTRIES: Committee Taps Robinson & Cole LLP as Counsel ------------------------------------------------------------- The official committee of unsecured creditors of SWC Industries, LLC and its affiliates seeks approval from the U.S. Bankruptcy Court for the Northern District of California to employ Robinson & Cole LLP as its counsel. The firm's services include: (a) advising the Committee with respect to the Committee's powers and duties under section 1103 of the Bankruptcy Code; (b) assisting and advising the Committee in its discussions with the Debtors, and any other appointed fiduciaries, and other parties-in-interest regarding the overall administration of these chapter 11 cases; (c) assisting and advising the Committee in connection with debtor-in-possession financing, critical vendor motions, and other proposed case transactions; (d) assisting and advising the Committee in connection with the proposed sale of certain of the Debtors' assets and businesses; (e) assisting and advising the Committee in analyzing and evaluating the assets and liabilities of each Debtor entity, and with regard to any causes of action belonging to each of the Debtors' estates; (f) assisting and advising the Committee in analyzing and investigating the acts, conduct, assets, liabilities, corporate structure, and financial conditions of the Debtors and each of them, including, without limitation, their financial disclosures and related matters, operations, and any other matters relevant to these cases; (g) representing the Committee at hearings to be held before this Court, any appellate courts, any issues raised by the UST, and communicating with the Committee regarding the matters heard and the issues raised as well as the decisions and considerations of the Court; (h) participating in such examinations of the Debtors and other witnesses as may be necessary in connection with these chapter 11 cases; (i) assisting and advising the Committee in connection with the retention of financial and other professionals; (j) responding to inquiries, as appropriate, from individual creditors and customers as to the status of, and developments in, these Chapter 11 Cases; (k) assisting and advising the Committee in its consultations, meetings and negotiations with the Debtors, creditors, and other parties-in-interest; (l) negotiating and formulating any plan of reorganization, including advising the Committee in connection with the unique or particularized issues arising in connection with these Chapter 11 Cases; and (m) assisting and advising the Committee generally in performing such other services as may be desirable or required for the discharge of the Committee's duties as set forth in the Bankruptcy Code, the Bankruptcy Rules, California law, the Local Rules, or other applicable law; (n) reviewing, analyzing and/or preparing, on behalf of the Committee, any pleadings, including without limitation, motions, applications, orders, memoranda, complaints, answers, objections, replies, responses, and papers with respect to any of the foregoing; and (o) performing all other legal services as may be required or otherwise requested by the Committee in connection with the Chapter 11 Cases. Robinson & Cole will be paid at these rates: Partners $550 to $2,015 per hour Counsel $525 to $1,200 per hour Associates $300 to $675 per hour Paralegals $250 to $500 per hour In addition, the firm will be reimbursed for out-of-pocket expenses incurred. Natalie Ramsey, Esq., a partner at Robinson & Cole, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Natalie D. Ramsey, Esq. Jamie L. Edmonson, Esq. Robinson & Cole, LLP 1201 N. Market Street, Suite 1406 Wilmington, DE 19801 Tel: (302) 516-1700 Email: nramsey@rc.com jedmonson@rc.com About SWC Industries LLC With principal operations in California and Massachusetts, SWC Industries LLC manufactures a range of innovative sealing and logistics equipment -- and offers related services -- that create efficiencies and reduce costs across multiple industries. In addition, the Company's San Diego-based business designs and develops a full suite of software designed to improve warehouse operations. SWC Industries LLC and 12 affiliates sought Chapter 11 protection (Bankr. N.D. Cal. Lead Case No. 24-51721) on Nov. 13, 2024. SWC listed assets and debt of $50 million to $100 million as of the bankruptcy filing. The Debtors tapped Allen Overy Shearman Sterling US LLP as lead restructuring counsel; Binder Malter Harris & Rome-Banks LLP as restructuring co-counsel and local counsel; Getzler Henrich & Associates LLC as financial advisor; and Gordian Group, LLC, as investment banker. Stretto, Inc., is the claims agent. TBB DEEP ELLUM: Voluntary Chapter 11 Case Summary ------------------------------------------------- Debtor: TBB Deep Ellum LLC DBA The Biscuit Bar 2550 Pacific Ave., Ste. 150 Dallas, TX 75226 Business Description: TBB Deep Ellum LLC, operating as The Biscuit Bar, is a fast casual restaurant focused on creative biscuits, tots, salads, and desserts, catering to a broad audience with options for breakfast, lunch, dinner and late night offerings. The company, with six locations across Texas, plans further expansion. Chapter 11 Petition Date: January 21, 2025 Court: United States Bankruptcy Court Northern District of Texas Case No.: 25-30207 Judge: Hon. Michelle V. Larson Debtor's Counsel: Thomas Berghman, Esq. MUNSCH HARDT KOPF & HARR, P.C. 500 N. Akard St., Ste. 4000 Dallas, TX 75201 Tel: 214-855-7500 Email: tberghman@munsch.com Estimated Assets: $50,000 to $100,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Jacob Burkett as 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 on PacerMonitor at: https://www.pacermonitor.com/view/6LTXT4I/TBB_Deep_Ellum_LLC__txnbke-25-30207__0001.0.pdf?mcid=tGE4TAMA TECTUM ROOFING: Unsecureds Will Get 90.97% over 5 Years ------------------------------------------------------- Tectum Roofing, LLC, filed with the U.S. Bankruptcy Court for the District of Colorado a Plan of Reorganization dated January 15, 2025. The Debtor is a Colorado limited liability company formed in 2020, and is owned 100% by Moriarty Group, LLC. Sean Moriarty is the Manager of the Debtor, and, with his wife, owns 100% of Moriarty Group, LLC. The Debtor's offices are located in Colorado Springs. The Debtor is a commercial and residential roofing company and operates in Colorado. The Debtor installs, replaces, and repairs new and existing roofs, and provides other roofing related services and products. The Debtor currently employed approximately 4 employees, and contracts out a majority of its work. The Debtor's cash flow initially began to suffer as a result of COVID and the increase in the price of supplies. The Debtor also encountered problems with collection of invoices, resulting in accruing attorneys' fees and costs, and losses of millions in income. The Debtor's problems also involved the collection of receivables from developers, and the Debtor intends to adjust its flow of future business in order to avoid the similar losses. Due to the unanticipated impairment of cash flow, the Debtor began to fall behind on bills. One creditor obtained a default judgment in a California court, and then sought to domesticate the judgment in Colorado to begin collection efforts against the Debtor. It is this threat of garnishment against the Debtor's bank accounts that ultimately forced the Debtor to seek protection under Chapter 11 of the Bankruptcy Code. The Debtor filed its voluntary petition for relief pursuant to Chapter 11, Subchapter V of the Bankruptcy Code on October 17, 2024. Class 8 is comprised of the Allowed General Unsecured Claims holding unsecured claims against the Debtor. Class 8 shall receive a pro-rata distribution equal to an escalating percentage of the Debtor's Gross Revenue calculated on annual basis for a five-year period beginning on the one-year anniversary of the Effective Date of the Plan ("Class 8 Plan Term") as follows: Year 1: 1% Year 2: 2% Year 3: 3% Year 4: 4% Year 5: 5%; Commencing on the first day of the second calendar year following the commencement of the Class 8 Plan Term and continuing each year thereafter, the Debtor shall distribute an amount equal to the respective percentage of the prior 12 month's Gross Revenue. By way of example, if the Plan is confirmed in March 2025, the first distribution shall be made annually based on the Gross Revenue generated from April 2025 through March 2026. Based on the Debtor's projections, the Debtor estimates that Class 8 Claims will receive a total of approximately $1,437,500 over a five-year period, or approximately 90.97% on account of their claims totaling approximately $1,580,215. Upon request by any party in interest, the Debtor shall provide an annual financial statement, including amounts disbursed to creditors in accordance with the Plan. The Debtor shall be entitled to retire the entire obligations to Class 8 Creditors at any time during the first two years of the Class 8 Plan Term by making a single pro rata distribution of $100,000, less amounts previously disbursed to unsecured creditors. In addition to the amounts set forth, Class 8 shall receive twenty-five percent of the amounts recovered for claims arising under Chapter 5 after payment of attorney fees, cost of litigation, and cost of recovery. Class 9 is comprised of the sole member of the Debtor, Moriarty Group, LLC. Class 9 is unimpaired by the Plan. On the Effective Date of the Plan, Class 9 interest holders shall retain all interests held on the Petition Date. The Debtor's Plan is feasible based upon the Debtor's prepared projections, which reflect a conservative prediction of the Debtor's operations during the term of the Plan. As evidenced by the projections, the Debtor anticipates that its income will be overall positive during the term of the Plan, and will generate sufficient revenue to meet its obligations under the Plan. A full-text copy of the Plan of Reorganization dated January 15, 2025 is available at https://urlcurt.com/u?l=nTZz9H from PacerMonitor.com at no charge. Counsel to the Debtor: Jenny M.F. Fujii, Esq. KUTNER BRINEN DICKEY RILEY PC 1660 Lincoln Street, Suite 1720 Denver, CO 80264 Tel: (303) 382-2400 Email: jmf@kutnerlaw.com About Tectum Roofing Tectum Roofing, LLC, specializes in roofing services, focusing on projects that require durable, high-quality solutions. Known for their expertise in both commercial and residential roofing, the company handles installations, repairs, and maintenance. Tectum Roofing sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case No. 24-16169) with $1 million to $10 million in both assets and liabilities. Mark Dennis, a certified public accountant at SL Biggs, serves as Subchapter V trustee Judge Michael E Romero oversees the case. Jeffrey S. Brinen, Esq., at Kutner Brinen Dickey Riley, P.C., is the Debtor's legal counsel. TRANS AMERICAN: Seeks to Hire Mullin Hoard & Brown as Counsel ------------------------------------------------------------- Trans American Aquaculture, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Mullin Hoard & Brown, L.L.P. as counsel. The firm's services include: a. preparing all motions, notices, orders and legal papers necessary to comply with the requisites of the United States Bankruptcy Code and Bankruptcy Rules; b. counseling the Debtor regarding preparation of Operating Reports; Motions; and development of a Chapter 11 Plan; and c. providing all other legal services ordinarily associated with a bankruptcy case. The firm will be paid at these rates: Partners/Associates $225 to $550 per hour Paralegals/ Law Clerks $185 to $200 per hour In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $25,002. David Langston, Esq., a partner at Mullin Hoard & Brown, disclosed in a court filing that the firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: David R. Langston, Esq. Mullin Hoard & Brown, L.L.P. P.O. Box 2585 Lubbock, TX 79408-2585 Tel: (806) 372-5050 Fax: (806) 372-5086 Email: drl@mhba.com About Trans American Aquaculture Trans American Aquaculture, LLC is a family-owned company in Dallas, Texas, that produces white shrimps. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 24-10217) on December 13, 2024, with $1 million to $10 million in both assets and liabilities. Adam Thomas, chief executive officer signed the petition. Judge Eduardo V. Rodriguez presides over the case. David R. Langston, Esq., at Mullin Hoard & Brown, LLP represents the Debtor as bankruptcy counsel. TROPHY CUPCAKES: Hires ProvenCFO LLC as Accountant -------------------------------------------------- Trophy Cupcakes, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Washington to employ ProvenCFO, LLC as accountant. The firm will provide these services: -- create relevant, reliable, and real-time accounting data; -- assist with bookkeeping and payroll; -- financial forecasting; and -- to otherwise render services to the Debtor as are generally provided by accounting services to a Debtor and debtor-in-possession. The firm will be paid a flat fee of $2,942 per month. As disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: ProvenCFO, LLC 180 N University Ave Ste. 270 Provo, UT 84601 Tel: (801) 800-8188 About Trophy Cupcakes, LLC Trophy Cupcakes, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wash. Case No. 24-13083) on December 3, 2024, with $100,001 to $500,000 in assets and $1 million to $10 million in liabilities. The petition was signed by Jennifer Shea as member. Judge Christopher M Alston oversees the case. The Debtor is represented by Faye C Rasch, Esq., at Wenokur Riordan, PLLC. TROPHY CUPCAKES: Hires Wenokur Riordan PLLC as Bankruptcy Counsel ----------------------------------------------------------------- Trophy Cupcakes, LLC received approval from the U.S. Bankruptcy Court for the Western District of Washington to hire Wenokur Riordan PLLC as bankruptcy counsel. The firm will render these services: a. take all actions necessary to protect and preserve Debtor's bankruptcy estate, including the prosecution of any actions on Debtor's behalf, defense of any action commenced against Debtor, negotiations concerning litigation in which Debtor is involved, objections to claims filed against Debtor in this bankruptcy case, and the compromise or settlement of claims. b. prepare the necessary applications, motions, memoranda, responses, complaints, answers, orders, notices, reports and other papers required from Debtor as Debtor-in-possession in connection with administration of this case. c. negotiate with creditors concerning a Chapter 11 plan, to prepare a Chapter 11 plan and related documents, and to take the steps necessary to confirm and implement the proposed plan of reorganization. d. provide such other legal advice or services as may be required in connection with the Chapter 11 cases. The firm will bill these rates: Alan Wenokur $550 per hour Nate Riordan $550 per hour Faye Rasch $550 per hour Cat Reny, Associate $475 per hour The firm received an advance fee deposit of $15,000 from the Debtor. Alan Wenokur, Esq., an attorney at Wenokur Riordan, disclosed in a court filing that the firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Alan J. Wenokur, Esq. Wenokur Riordan PLLC 600 Stewart Street, Suite 1300 Seattle, WA 98101 Telephone: (206) 682-6224 Email: alan@wrlawgroup.com About Trophy Cupcakes LLC Trophy Cupcakes, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wash. Case No. 24-13083) on December 3, 2024, with $100,001 to $500,000 in assets and $1 million to $10 million in liabilities. The petition was signed by Jennifer Shea as member. Judge Christopher M Alston oversees the case. The Debtor is represented by Faye C Rasch, Esq., at Wenokur Riordan, PLLC. TSB VENTURES: Case Summary & Five Unsecured Creditors ----------------------------------------------------- Debtor: TSB Ventures, LLC 3118 Balis Drive Suite 15B Baton Rouge, LA 70808-3007 Business Description: TSB Ventures specializes in securities and commodity contracts intermediation and brokerage. Chapter 11 Petition Date: January 20, 2025 Court: United States Bankruptcy Court Eastern District of Louisiana Case No.: 25-10117 Debtor's Counsel: Ryan J. Richmond, Esq. STERNBERG, NACCARI & WHITE, LLC 450 Laurel Street Suite 1450 Baton Rouge, LA 70801 Tel: (225) 412-3667 E-mail: ryan@snw.law Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Matthew Follis as manager. A copy of the Debtor's list of five unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/UBY46EA/TSB_Ventures_LLC__laebke-25-10117__0002.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/UEAW23A/TSB_Ventures_LLC__laebke-25-10117__0001.0.pdf?mcid=tGE4TAMA TSB VENTURES: Seeks Subchapter V Bankruptcy in Louisiana -------------------------------------------------------- On January 20, 2025, TSB Ventures LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of Louisiana. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About TSB Ventures LLC TSB Ventures LLC operates as a securities and commodity contracts intermediation firm headquartered in Baton Rouge, Louisiana. TSB Ventures LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. La. Case No. 25-10117) on January 20, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Meredith S. Grabill handles the case. The Debtor is represented by: Ryan James Richmond, Esq. Sternberg, Naccari & White, LLC 450 Laurel Street, Suite 1450 Baton Rouge, LA 70801 Phone: 225-412-3667 Fax: 225-286-3046 TWIN FALLS: Hires Bridger Consulting as Financial Advisor --------------------------------------------------------- Twin Falls Oil Service, LLC seeks approval from the U.S. Bankruptcy Court for the District of North Dakota to employ Bridger Consulting, LLC as financial advisor. The firm will render these advisory services to the Debtor: a. Monthly financial reporting; b. Cash flow planning; c. Operational performance indicators; and d. Other accounting services, as requested. The firm holds a retainer of $19,800. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Michael Krueger, owner of Bridger Consulting, LLC, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Michael Krueger Bridger Consulting, LLC 3509 East River Road Medora, ND 58645 About Twin Falls Oil Service, LLC Twin Falls Oil Service, LLC, a company in Killdeer, N.D., offers crude oil hauling, water hauling, aggregate hauling, hydrovac winch services and OTR hauling. Twin Falls sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Case No. 24-30525 on December 11, 2024, with up to $50,000 in assets and up to $10 million in liabilities. Jeffery L. Jacobson, president of Twin Falls, signed the petition. The Debtor is represented by Steven R. Kinsella, Esq., at Fredrikson & Byron, P.A. TWIN FALLS: U.S. Trustee Unable to Appoint Committee ---------------------------------------------------- The U.S. Trustee for Region 12 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Twin Falls Oil Service, LLC. About Twin Falls Oil Service Twin Falls Oil Service, LLC, a company in Killdeer, N.D., offers crude oil hauling, water hauling, aggregate hauling, hydrovac winch services and OTR hauling. Twin Falls sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Case No. 24-30525) on December 11, 2024, with up to $50,000 in assets and up to $10 million in liabilities. Jeffery L. Jacobson, president of Twin Falls, signed the petition. Judge Shon Hastings oversees the case. The Debtor is represented by Steven R. Kinsella, Esq., at Fredrikson & Byron, P.A. UNITED NATURAL: Mark Bushway Owns 57,493 Shares ----------------------------------------------- Mark Bushway, president, natural and chief supply chain officer of United Natural Foods, Inc., disclosed in a Form 3 filing with the U.S. Securities and Exchange Commission that as of January 5, 2025, he beneficially owns 57,493 shares of the Company's common stock. About United Natural United Natural Foods, Inc is a leading distributor of natural, organic, and specialty, produce, and conventional grocery foods and non-food products, and provider of support services in the United States and Canada. The company is publicly traded and has 55 distribution centers and generates about $30 billion in revenue. The principal methodology used in this rating was Distribution and Supply Chain Services published in February 2023. VAI CONSTRUCTION: Seeks to Hire Alla Kachan as Legal Counsel ------------------------------------------------------------ Vai Construction Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire the Law Offices of Alla Kachan, PC as legal counsel. The firm will render these services: (a) assist the Debtor in administering this Chapter 11 case; (b) make such motions or take such action as may be appropriate or necessary under the Bankruptcy Code; (c) represent the Debtor in prosecuting adversary proceedings to collect assets of the estate and such other actions as it deems appropriate; (d) take such steps as may be necessary for the Debtor to marshal and protect the estate's assets; (e) negotiate with the Debtor's creditors in formulating a plan of reorganization in this case; (f) draft and prosecute the confirmation of the Debtor's plan of reorganization in this case; and (g) render such additional services as the Debtor may require in this case. The hourly rates of the firm's counsel and staff are: Attorneys $475 Clerks and Paraprofessionals $250 In addition, the firm will seek reimbursement for expenses incurred. The firm also received an initial retainer of $15,000 from the Debtor. Alla Kachan, Esq., an attorney at the Law Offices of Alla Kachan, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Alla Kachan, Esq. Law Offices of Alla Kachan, PC 2799 Coney Island Avenue, Suite 202 Brooklyn, NY 11235 Telephone: (718) 513-3145 About Vai Construction Inc. Vai Construction Inc. is a licensed and insured general contractor. Vai Construction Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 24-45166) on December 11, 2024. In the petition filed by Taras Vaida, as president, the Debtor reports total assets of $23,486 and total liabilities of $1,361,782. Honorable Bankruptcy Judge Nancy Hershey Lord handles the case. The Debtor is represented by Alla Kachan, Esq. at LAW OFFICES OF ALLA KACHAN, P.C. VIGILANT HEALTH: Seeks to Tap EmergeLaw PLC as Bankruptcy Counsel ----------------------------------------------------------------- Vigilant Health Network, Inc. and affiliates seek approval from the U.S. Bankruptcy Court for the Middle District of Tennessee to hire EmergeLaw, PLC as bankruptcy counsel. The firm's services include: a. providing legal advice with respect to the rights, powers and duties of Debtors in the management of their property; b. investigating and, if necessary, instituting legal action on behalf of the Debtors to collect and recover assets of the estates of Debtors; c. preparing all necessary pleadings, orders and reports with respect to this proceeding and to render all other necessary or proper legal services; d. assisting and counseling the Debtors in the preparation, presentation and confirmation of their plan; e. representing the Debtors as may be necessary to protect their interests; and f. performing all other legal services that may be necessary and appropriate in the general administration of the Debtors' estates. Robert Gonzales's standard hourly rate is $725. Senior paralegal Angela Willoughby's standard hourly rate is $225. The firm received a total of $133,452 in connection with its representation of the Debtor. Robert Gonzales, Esq., a partner at EmergeLaw, disclosed in a court filing that the firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Robert J. Gonzales, Esq. Nancy B. King, Esq. EMERGELAW, PLLC 4235 Hillsboro Pike, Suite 350 Nashville, TN 37215 Tel: (615) 815-1535 Email: robert@emerge.law nancy@emerge.law About Vigilant Health Network, Inc. Vigilant Health Network, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Tenn. Case No. 25-00100) on January 9, 2025, with up to $10 million in both assets and liabilities. G. Austin Triggs, Jr., executive chairman of Vigilant Health Network, signed the petition. Judge Charles M. Walker oversees the case. Robert J. Gonzales, Esq., at EmergeLaw, PLC, represents the Debtor as bankruptcy counsel. VILLAGE OAKS: Trustee Hires Ratzlaff Tamberi as Accountant ---------------------------------------------------------- Lisa Holder, the Trustee for Village Oaks Senior Care, LLC, seeks approval from the U.S. Bankruptcy Court for the Eastern District of California to employ Ratzlaff Tamberi & Gill, LLP as accountant. The firm will provide accounting services to the Trustee, including tax returns preparation, tax elections, representation before taxing authorities, tax defense, compilation, review and audit of financial statements, computer processing and consulting, accounting systems review, special reports and litigation support. The firm will be paid based upon its normal and usual hourly billing rates. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Christopher A. Ratzlaff, a partner at Ratzlaff Tamberi & Gill, LLP, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Christopher A. Ratzlaff Ratzlaff Tamberi & Gill, LLP 7650 North Palm Avenue, Suite 105, Fresno, CA 93711, Tel: (559) 432-0300 About Village Oaks Senior Care, LLC Village Oaks Senior Care, LLC owns and operates community care facilities for the elderly. Village Oaks Senior Care sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Cal. Case No. 24-22206) on May 21, 2024. In the petition filed by Benjamin L. Foulk, owner and manager, the Debtor reported total assets of $1,440,832 and total liabilities of $3,369,013 as of Dec. 31, 2023. Judge Christopher D. Jaime oversees the case. D. Edward Hays, Esq., at Marshack Hays Wood, LLP serves as the Debtor's counsel. WEAVEUP INC: Files Bankruptcy Protection in Delaware ---------------------------------------------------- On January 15, 2025, WeaveUp Inc. filed Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware. According to court filing, the Debtor reports between $1 billion and $10 billion in debt owed to 50,000 and 100,000 creditors. The petition states funds will be available to unsecured creditors. About WeaveUp Inc. WeaveUp Inc. is a software company that provides a web-based platform for customizing and printing digital textiles. WeaveUp Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10075) on January 15, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 billion and $10 billion each. The Debtor is represented by: Patrick J. Reilley, Esq. Cole Schotz P.C. 500 Delaware Avenue, Suite 1410 Wilmington, DE 19801 Phone: 302-652-3131 Fax: 302-652-3117 WELLPATH HOLDINGS: 2 Hospitals Face Closure, Risking Jobs --------------------------------------------------------- Akeena of Newsbreak reports that the NeuroBehavioral Hospitals of the Palm Beaches, operating locations in Boynton Beach and West Palm Beach, may close in the coming months due to the bankruptcy of their parent company, Wellpath Holdings. The closures threaten over 170 jobs, according to a Worker Adjustment and Retraining Notification (WARN) notice filed with the state of Florida, the report relates. According to Newsbreak the WARN notice, published on January 14, 2025 by Florida Commerce, reveals that hospital executives are exploring options to keep the facilities open, including selling them to another healthcare provider. "We are committed to pursuing every viable option to maintain our operations and continue serving our community," stated a memo sent to employees. If these efforts fail, the Boynton Beach hospital at 4905 Park Ridge Blvd. could close as early as January 17, 2025 or within two weeks thereafter. The West Palm Beach facility at 993 45th St. faces potential closure on March 18 or within two weeks of that date. If the facilities shut down, 79 employees at Boynton Beach and 95 at West Palm Beach will face layoffs. Affected roles include psychiatrists, psychologists, mental health technicians, social workers, administrators, and security staff. Under the WARN Act, businesses must provide advance notice of significant layoffs or closures, ensuring the community is informed of these developments, according to report. Wellpath Holdings filed for bankruptcy in November 2024, citing $644 million in debt. The financial struggles have placed immense pressure on its subsidiaries, including NeuroBehavioral Hospitals, which provide critical mental health and substance abuse treatment services. These hospitals are vital resources for Palm Beach County, offering voluntary and involuntary care to individuals battling mental health challenges and addiction, the report relays. While the hospitals remain operational, executives are racing against time to find a buyer or alternative solution. If closure becomes inevitable, the community will face not only job losses but also reduced access to essential mental health and addiction services. This crisis underscores the urgent need for sustainable funding and support for mental healthcare providers to maintain these critical services. Without intervention, the loss of these facilities will have a profound impact on the community's most vulnerable populations, the report states. About Wellpath Holdings, Inc. Wellpath Holdings, Inc. f/k/a CCS-CMGC Holdings, Inc., is a provider of medical and mental healthcare in jails, prisons, and inpatient and residential treatment facilities. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 24-90533) on November 11, 2024, with $1 billion to $10 billion in assets and liabilities. Timothy Dragelin, chief restructuring officer and chief financial officer, signed the petitions. The Debtor tapped Marcus A. Helt, Esq. at McDERMOTT WILL & EMERY LLP as bankruptcy counsel; FTI CONSULTING, INC. as financial advisor; and LAZARD FRERES & CO. LLC and MTS PARTNERS, LP as investment bankers. WILLIAM LAY: Starts Subchapter V Bankruptcy Proceeding in Texas --------------------------------------------------------------- On January 20, 2025, William Lay DDS PLLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Texas. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About William Lay DDS PLLC William Lay DDS PLLC is a dental practice based in Arlington, Texas. William Lay DDS PLLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-40202) on January 20, 2025. In its petition, the Debtor reports estimated assets between $100,000 and $500,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Mark X. Mullin handles the case. The Debtor is represented by: Robert Thomas DeMarco, Esq. Robert Demarco 12770 Coit Road, Suite 850 Dallas, TX 75251 Phone: 972-991-5591 WILSON CREEK: U.S. Trustee Appoints Creditors' Committee -------------------------------------------------------- The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors in the Chapter 11 cases of Wilson Creek Energy, LLC and its affiliates. The committee members are: 1. Tijon Company, Inc. Mr. David Kostryk 110 Entry Road Aultman, PA 15713 dkostryk@tijonusa.com Tel: (724) 388-1247 2. Joy Global Underground Mining, LLC Ms. Kelly Smith 220 Simko Boulevard Charleroi, PA 15022 kelly.smith@global.komatsu Tel: (724) 873-4375 3. WC Hydraulics LLC Mr. Bumper Wright 172 Philpot Lane Beaver, WV 25813 bwright@wc-hydraulics.com Tel: (304) 255-2208 Official creditors' committees serve as fiduciaries to the general population of creditors they represent. They may investigate the debtor's business and financial affairs. Committees have the right to employ legal counsel, accountants and financial advisors at a debtor's expense. About Wilson Creek Energy Through their U.S.-based operating subsidiaries, Wilson Creek Energy, LLC and its affiliates supply premium-quality metallurgical coal, an essential ingredient in steel production. The Debtors' core business involves the mining, production and supply of premium-quality metallurgical coal, which is sold to both domestic and international steel and coke producers. The sources of the Debtors' metallurgical coal include (i) coal that the Debtors produce, and (ii) coal that the Debtors purchase from third parties, which they then enhance through value-added services such as storing, washing, blending, and loading, making the coal suitable for sale. The Debtors' headquarter is located in Friedens, Somerset County, Pa. All the Debtors' physical assets, mining operations and employees are based in Somerset County, Pa., and Garrett County, Md. Wilson Creek Energy and 10 affiliates filed Chapter 11 petitions (Bankr. W.D.PA Lead Case No. 25-70001) on January 6, 2025. At the time of the filing, Wilson Creek Energy reported $50 million to $100 million in assets and $10 million to $50 million in liabilities. Judge Jeffery A. Deller presides over the cases. The Debtors tapped Raines Feldman Littrell, LLP as bankruptcy counsel; Stikeman Elliott, LLP as Canadian insolvency counsel; BDO USA as financial advisor and consultant; and PricewaterhouseCoopers, LLP as Canadian information officer. Omni Agent Solutions, Inc. serves as the Debtors' claims and noticing agent. WINESTEAD LLC: Unsecureds Will Get 13% of Claims in Plan -------------------------------------------------------- Winestead LLC filed with the U.S. Bankruptcy Court for the Central District of California a Subchapter V Plan of Reorganization dated January 15, 2025. The Debtor is in the business of manufacturing and selling wine, along with operating a tasting room and restaurant located in Old Town Murrieta, California at 24683 Washington Avenue, Murrieta, California 92562 ("Business"). Through ownership and management restructuring in or about February 2024, Ryan Parent and Amanda Lane, who at that time had no prior interest in the Debtor, purchased controlling equity and voting membership interests in the Debtor. Parent and Lane have since taken over the management of the Business. Since filing the instant Chapter 11 bankruptcy case on October 17, 2024, the Debtor has continued operations post-petition, has worked with creditors and improved its financial structure, seeks to provide for the payment of claims and to continue its business operations. As an operator of a wine tasting room and restaurant, the Debtor's value arises from its continuation as an ongoing business enterprise. The Debtor's financial projections show that the Debtor will have projected disposable income of $794,205.83, averaging disposable income in the amount of $13,236.76 per month over the life of the Plan. Class 6 consists of Non-Priority Unsecured Claims. Class 6 claims will not accrue interest. The Debtor will pay all projected disposable income remaining after payment of claims in Class 1 through Class 5 under the Plan, which is estimated to result in payment of $223,440.91 to allowed Class 6 claims. Pro rata payments will be issued quarterly beginning on the first date of the month of the first calendar quarter following the effective date and continue on the first date of the month of each calendar quarter thereafter. The known claims total approximately $1,744,042.02. The Debtor estimates payments under the Plan will result in an approximate 13% return to Class 6 claims, which could be more or less depending in part on the ultimate amount of allowed claims. Class 6 is impaired. The source of funding for the Plan will come from cash on hand on the effective date, expected to approximate $75,000.00 to $100,000.00, and income generated from the Debtor's ongoing business. A full-text copy of the Subchapter V Plan dated January 15, 2025 is available at https://urlcurt.com/u?l=KQwxyH from PacerMonitor.com at no charge. Counsel to the Debtor: Luke J. Hendrix, Esq. Law Offices of J. Luke Hendrix 28465 Old Town Front St, Suite 212 Temecula, CA 92590 Phone: (951) 221-3721 Email: luke@jlhlawoffices.com About Winestead LLC Winestead LLC -- https://www.orangecoastwinery.com -- is a restaurant known for offering great lunch, dinner and brunch. It conducts business under the name Wine Ranch Grill and Cellars. Winestead filed a petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Calif. Case No. 24-16223) on October 17, 2024, with $100,001 to $500,000 in assets and $1 million to $10 million in liabilities. Judge Mark Houle oversees the case. The Debtor is represented by Robert B Rosenstein, Esq., at Rosenstein & Associates. WING BOSS: Seeks to Hire Earl E. Allen Jr. CPA as Accountant ------------------------------------------------------------ The Wing Boss, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Earl E. Allen Jr., CPA, CFP as accountant/CPA. The CPA will assimilate the data necessary to prepare and file Debtor's 2023 and 2024 Income Tax Returns. The firm will be paid at these rates: CPA $175/hour Staff $125/hour As disclosed in the court filings, the CPA has no interest adverse to the estate and is a disinterested person. The CPA can be reached at: Earl E. Allen Jr., CPA, CFP 5330 Griggs Road Suite A115 Houston, TX 77021-3756 Telephone: (713) 721-5365 Facsimile: (713) 721-5060 Email: earl@earlallencpa.com About The Wing Boss The Wing Boss, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 24-35350) on November 13, 2024, with up to $500,000 in assets and up to $1 million in liabilities. Anthony James, company owner, signed the petition. Judge Jeffrey P Norman presides over the case. Aaron W. McCardell, Sr., Esq., at The McCardell Law Firm, PLLC, represents the Debtor as counsel. ZURVITA HOLDINGS: Seeks to Hire Ordinary Course Professionals ------------------------------------------------------------- Zurvita Holdings Inc. seeks approval from the U.S. Bankruptcy Court for the District of Delaware to retain professionals utilized in the ordinary course of business. These OCPs have provided legal, technical, accounting, consulting, and/or other related services to the Debtors, upon which they rely on to manage their day-to-day operations. The Debtors seek to pay OCPs 100 percent of the fees and expenses incurred. The Debtors do not believe that any of the OCPs have an interest materially adverse to them, their estates, creditors, or other parties in interest in connection with the matter upon which they are to be engaged. The OCPs include: a. Lane Gorman Trubitte PLLC Corporate Tax Accounting Firm -- $10,000 b. RSM Mexico Bogarin SC Mexico Accounting Firm -- $1,500 c. Hagerman Abogados Mexico Law Firm -- $5,000 d. Brouillette Legal Inc Canada Law Firm -- $1,500 e. Your Trademark Attorney Trademark Law Firm -- $1,000 About Zurvita Holdings Inc. Zurvita Holdings Inc. is a direct sales company which is focused on health and wellness. Its signature product, Zeal, is an all-in-one nutritional drink mix to enjoy the benefits of essential nutrients and superfoods in one simple solution to help modern families achieve their health goals deliciously and affordably. Zurvita Holdings Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 24-12823) on December 20, 2024. In the petition filed by Shadron L. Stastney, as director, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Mary F. Walrath handles the case. Aaron H. Stulman, Esq. at POTTER ANDERSON & CORROON LLP represents the Debtor as counsel. [*] Over 2,000 Stores Have Closed, Set to Close in the U.S. in 2025 ------------------------------------------------------------------- Dominic Reuter of Business Insider Africa reports that according to a Business Insider review of disclosures from six retail chains, more than 2,000 stores across the US have either closed or are slated to close in 2025. Six retail brands have confirmed plans to close more than 2,000 stores across the US this 2025r, with Party City, a twice-bankrupt chain, topping the list at 700 closures, according to Business Insider Africa. Store closures have slightly increased from last 2024 but remain lower than 2023, when the collapse of Bed Bath & Beyond triggered over 2,800 shutdowns, the report states. UBS analysts predict U.S. retail closures could reach 45,000 by 2029, with smaller businesses being the hardest hit. In contrast, major retailers like Walmart, Costco, Target, and Home Depot continue to grow. A detailed list of major closures follows. * Party City: 700 stores Leading this 2025's closures is Party City, which filed for Chapter 11 bankruptcy in late December, with 700 stores set to close. * Big Lots: 480 stores Big Lots secured a last-minute lifeline to avoid bankruptcy, but its new owners are selling the leases for 480 locations. * Walgreens: 450 stores Walgreens announced it is set to close 450 stores by the end of 2025 as part of a multi-year initiative to streamline its store network. * Family Dollar: 370 stores * Macy's: 66 stores In February 2024, Macy's announced plans to close 150 stores over the next three years, beginning with 50 closures in 2024. * Kohl's: 27 stores Kohl's announced it will close 27 stores across 15 states, a small percentage of its over 1,150-store fleet, which the company describes as healthy, strong, and profitable. The closures are set to be finished by April. [*] Private Credit Fills Global Lending Gap as Banks Scale Back --------------------------------------------------------------- Michel Lowy, co-founder and CEO of SC Lowy, discusses on how private credit is transforming global capital markets by offering customized financing, empowering businesses to grow, and addressing unmet demand in dynamic economies worldwide. In today’s rapidly evolving global financial landscape, traditional banks are no longer the primary providers of capital. Risk-averse banking systems, increasingly constrained by regulatory pressures, are struggling to meet the rising demand for flexible financing. This has opened the door for private credit lenders, like SC Lowy, to fill the void with customised, adaptable financing solutions. The global lending gap The global lending gap has been driven by several factors, most notably heightened regulatory requirements under frameworks like Basel III. These regulations impose strict capital reserve requirements, limiting banks’ capacity to issue corporate loans. As a result, traditional banks are retreating from many sectors of the lending market, leaving businesses, particularly mid-size corporates, underserved. Private credit is stepping in to bridge this gap, emerging as a vital alternative. By offering tailored financing solutions that banks often cannot provide, private credit providers are addressing unmet borrower needs and reshaping the global capital landscape. Enter private credit With traditional lenders constrained, private credit has become a key player in meeting the demand for capital. Private lenders bring unmatched flexibility and borrower-centric approaches, delivering faster approvals and more customized financing structures. Approval timelines for private credit loans typically range from four to eight weeks—significantly shorter than the three months or more required by most banks. Private credit firms also provide diverse loan structures, such as cash-flow-based and asset-backed loans, enabling them to cater to businesses with unique financial needs. Unlike banks, which focus mainly on large corporate relationships, investment-grade lending, private lenders specialize in high-yield structured loans, making them an ideal partner for businesses seeking quick access to capital and willing to pay a premium for speed and flexibility. Opportunities in emerging markets The demand for private credit is particularly strong in emerging markets, where traditional banking systems often fall short. The Asia-Pacific (APAC) region, which is expected to account for up to 70% of global GDP growth, presents a prime opportunity for private lenders. In these markets very fragmented banking markets with very little alternative capital and limited high yield market, private creditors must leverage deep sector expertise and local market knowledge to navigate complex regulatory environments and deliver effective lending solutions. Firms with a local presence across the region, like SC Lowy, have an enhanced competitive edge allowing them to capitalise on the significant opportunities emerging across these dynamic economies. India serves as a standout example. With its booming economy, improved legal system, growing middle-class, and heavily regulated banking sector, India provides a fertile ground for private credit firms. SC Lowy, for instance, targets short-to-medium term senior secured lending opportunities (often first lien) providing internal rates of return (IRRs) of 17-22% in local currency, translating to approximately 15-20% in USD -- an attractive risk-return profile. Similar opportunities are emerging across other dynamic economies, underscoring the critical role of private credit in meeting demand where traditional financing falls short. Looking ahead: The future of private credit As banks continue to scale back lending, the growth trajectory for private credit is set to accelerate. This trend is particularly evident in Asia and the Middle East, where large-scale infrastructure and development projects are flourishing. In these regions, private credit is increasingly becoming a crucial source of capital and catching up compares to the rest of the world. In mature markets like North America and Europe, private credit is already an attractive alternative to traditional financing utilized by both sponsored and non-sponsored borrowers alike. By offering customized, flexible financing solutions, private credit firms have been bridging the funding gap, enabling businesses to expand, innovate, and build resilience in challenging economic environments. Conclusion Mr. Lowy says, "As regulatory pressures tighten, and traditional banks grow more risk-averse, private credit has emerged as a vital component of the global financial ecosystem. By offering flexible, tailored financing backed by deep sector and local knowledge, private lenders are meeting borrower needs in ways that traditional banks cannot." "Private credit is not merely filling a gap -- it is transforming capital provision, supporting economic growth, and empowering businesses to pursue ambitious goals. As the financial landscape continues to evolve, private credit will remain a driving force in reshaping global capital markets and enable growth across diverse regions." About SC LOWY SC Lowy -- http://www.sclowy.com-- is an alternative asset manager with $1.6 billion in assets under management, specializing in opportunistic credit, special situations, and private credit across Asia Pacific, the Middle East, and Europe. Founded in 2009, the firm operates out of nine global offices with a team of over 50 experienced professionals. It focuses on solid, cash-generating businesses and prioritize capital preservation, with a strong emphasis on downside protection through senior secured lending backed by hard assets. ********* Monday's edition of the TCR delivers a list of indicative prices for bond issues that reportedly trade well below par. Prices are obtained by TCR editors from a variety of outside sources during the prior week we think are reliable. Those sources may not, however, be complete or accurate. The Monday Bond Pricing table is compiled on the Friday prior to publication. Prices reported are not intended to reflect actual trades. Prices for actual trades are probably different. Our objective is to share information, not make markets in publicly traded securities. Nothing in the TCR constitutes an offer or solicitation to buy or sell any security of any kind. It is likely that some entity affiliated with a TCR editor holds some position in the issuers public debt and equity securities about which we report. Each Tuesday edition of the TCR contains a list of companies with insolvent balance sheets whose shares trade higher than $3 per share in public markets. At first glance, this list may look like the definitive compilation of stocks that are ideal to sell short. Don't be fooled. Assets, for example, reported at historical cost net of depreciation may understate the true value of a firm's assets. A company may establish reserves on its balance sheet for liabilities that may never materialize. The prices at which equity securities trade in public market are determined by more than a balance sheet solvency test. On Thursdays, the TCR delivers a list of recently filed Chapter 11 cases involving less than $1,000,000 in assets and liabilities delivered to nation's bankruptcy courts. The list includes links to freely downloadable images of these small-dollar petitions in Acrobat PDF format. Each Friday's edition of the TCR includes a review about a book of interest to troubled company professionals. All titles are available at your local bookstore or through Amazon.com. Go to http://www.bankrupt.com/books/to order any title today. Monthly Operating Reports are summarized in every Saturday edition of the TCR. The Sunday TCR delivers securitization rating news from the week then-ending. TCR subscribers have free access to our on-line news archive. Point your Web browser to http://TCRresources.bankrupt.com/and use the e-mail address to which your TCR is delivered to login. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter is a daily newsletter co-published by Bankruptcy Creditors Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Philadelphia, Pa., USA. Randy Antoni, Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Joel Anthony G. Lopez, Psyche A. Castillon, Ivy B. Magdadaro, Carlo Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors. Copyright 2025. All rights reserved. ISSN: 1520-9474. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. The single-user TCR subscription rate is $1,400 for six months or $2,350 for twelve months, delivered via e-mail. Additional e-mail subscriptions for members of the same firm for the term of the initial subscription or balance thereof are $25 each per half-year or $50 annually. For subscription information, contact Peter A. Chapman at 215-945-7000. *** End of Transmission ***