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250527.mbx T R O U B L E D C O M P A N Y R E P O R T E R Tuesday, May 27, 2025, Vol. 29, No. 146 Headlines 23ANDME HOLDING: Senators Propose DNA Privacy Bill Amid Ch. 11 Sale 6 YOUNGS ROAD: June 16 Public Sale Auction Set 98 THATFORD: Case Summary & Four Unsecured Creditors AASRAH 889 SUTTER: Seeks Chapter 11 Bankruptcy in New York ACCELERATE DIAGNOSTICS: Faces Nasdaq Delisting Amid Bankruptcy ACUREN HOLDINGS: S&P Alters Outlook to Stable, Affirms 'B' ICR ADVANET AIR: Gets Interim OK to Use Cash Collateral Until June 15 ALFRESCO GROUP: Seeks Subchapter V Bankruptcy in Oklahoma AMERICAN COMPONENTS: Hires Lamberth Cifelli Ellis as Counsel AMERIGLASS CONTRACTOR: Gets Extension to Access Cash Collateral ANTHONY'S TRUCK: Seeks to Hire Pepper & Nason as Legal Counsel APTIM CORP: S&P Alters Outlook to Negative, Affirms 'B-' ICR ARCHDIOCESE OF NEW ORLEANS: Apostolates to File for Bankruptcy ARCHDIOCESE OF NEW ORLEANS: Nearly $180M Settlement Awaits Approval ARCHDIOCESE OF SAN FRANCISCO: Bankruptcy Data Shows Abuse Claims ARTIFICIAL INTELLIGENCE: Backs July 2025 Launch of OTCID Market ASAP HIGHLINE: Public Sale Auction Set for July 29 ASBESTOS CORP: Receiver Asks Court to Deny Receivership Stay ATARA BIOTHERAPEUTICS: Sees 30% Reduction in Workforce by August ATX NETWORKS: FS KKR Marks $45.1-Mil. Loan at 21% Off AYRO INC: Shareholders Approve Share Increase, Elect Six Directors AZ 175TH STREET: Seeks Chapter 11 Bankruptcy in New York AZURITY PHARMACEUTICALS: S&P Withdraws 'B' Issuer Credit Rating BEAVER FALLS, PA: S&P Affirms 'BB+' ICR, Outlook Positive BENSON HILL: Assets Sold to Confluence Genetics, Exits Chapter 11 BESTMANN LLC: Seeks Subchapter V Bankruptcy in Georgia BISHOP OF OAKLAND: Seeks to Hire Jonathan Lipson as Consultant BLABLMBTQ LLC: Seeks to Hire Barron & Newburger as Legal Counsel BLACK ANGUS: PhenixFIN Marks $1-Mil. Secured Loan at 59% Off BLACK ANGUS: PhenixFIN Marks $2.3 Million Secured Loan at 59% Off BLUM HOLDINGS: To Acquire Cookies Stakeholder in $562,500 Deal BROADWAY REALTY: Seeks Chapter 11 After Bank Foreclosure BROKEN VESSEL: Creditor SouthPoint Bank Files Liquidating Plan BROOKDALE SENIOR: Antipodes Partners Holds 6.84% Equity Stake BTR OPCO: Monroe Capital Marks $569,000 Secured Loan at 20% Off BUTLER TRUCKING: Gets Extension to Access Cash Collateral CAMBER ENERGY: 2024 Net Loss Widens to $70M; Revenue Down 9% CAPITAL SECURITY: Lisa Holder Named Subchapter V Trustee CARBON SEQUESTRATION: Seeks Chapter 11 Bankruptcy in Delaware CBDMD INC: Clark Crosnoe Discloses 11.1% Stake as of May 6 CBRM REALTY: Faegre Drinker Represents Crown Capital Noteholders CCP MEZZANINE: Redwood To Hold Public Auction on May 27 CLEAN ENERGY: Sells $131.6K Convertible Note to 1800 Diagonal COMPANION CARE: Hires Demetrius J. Parrish Jr. as Legal Counsel CONFLUX LLC: Section 341(a) Meeting of Creditors on June 23 CORBETT BUILDINGS: Seeks to Hire Alan L. Joseph as Special Counsel CROWDSTRIKE HOLDINGS: S&P Alters Outlook to Pos, Affirms 'BB+' ICR CTN HOLDINGS: Seeks Approval to Hire BDO USA as Tax Consultants DANNIKLOR ENTERPRISES: Hires Furr and Cohen as Bankruptcy Counsel DATAVAULT AI: Receives Nasdaq Notice for Bid Price Non-Compliance DOUBLE PLAY: Catherine Stone Curtis Named Subchapter V Trustee ELMWOOD VENTURES: Salvatore LaMonica Named Subchapter V Trustee ETHEMA HEALTH: Posts $2.17M Loss in FY2024 on Higher Pre-Tax Losses EXCELL COMMUNICATIONS: Hires Ruskin Moscou Faltischek as Counsel EXCELL COMMUNICATIONS: Seeks to Tap Lindenwood as Financial Advisor EXCELL COMMUNICATIONS: Taps Harris Beach Murtha Cullina as Counsel EXTERIOR CONSTRUCTION: Goodman Named Successor Subchapter V Trustee FLAGSHIP RESORT: Seeks to Tap Kroll as Claims and Noticing Agent FREE SPEECH: $45.1MM Hook Verdict Unconstitutional, Says Alex Jones GLOBAL PREMIER: Claims to be Paid From Exit Financing or Proceeds GOL LINHAS: US Trustee Wants to Appeal Chapter 11 Plan Approval GREAT OAKS LEGACY: S&P Lowers ICR to 'BB' On Weakened Finances GREEN ACRES: Lauren Goodman Named Successor Subchapter V Trustee H&E EQUIPMENT: S&P Removes 'BB-' Unsec. Debt Rating Off Watch Neg. HALL OF FAME: Stuart Lichter Holds 73.1% Stake as of May 7 HIAWATHA MANOR: Seeks to Hire Real Estate Broker and Auctioneer INSPIREMD INC: Rosalind Entities Hold 7.7% Stake as of March 31 IQERA: S&P Corrects LT ICR to 'D' Due to Safeguard Proceedings JAL HOLDINGS: Angela Shortall Named Subchapter V Trustee JBSB DESTINY: Gets Final OK to Use Cash Collateral JJ PFISTER: Lisa Holder Named Subchapter V Trustee JONES REAL: Seeks to Hire Orville & McDonald Law as Legal Counsel KEYSTONE PASSIONATE: Seeks to Tap Cunningham Chernicoff as Counsel LAID RIGHT: Seeks Approval to Hire J.M. Cook as Bankruptcy Counsel LAURCON LLC: Public Sale Auction Slated for July 8 LI-CYCLE HOLDINGS: Gets Chapter 15 Court Ok Amid Glencore Sale Bid LIBERATED BRANDS: Court Dismisses Chapter 11 Bankruptcy Case LIFE INSURANCE: A.M. Best Cuts Fin. Strength Rating to B(Fair) LIFTED TRUCKS: Monroe Capital Marks $1.6MM Secured Loan at 60% Off LION ELECTRIC: Emerges from CCAA Proceedings With Sole Shareholder LIVEONE INC: FMR LLC Holds 6.2% Equity Stake as of March 31 LIVEONE INC: Raises $27.8M via Convertible Notes, Draws $16.8M MALIA REALTY: Gets Final OK to Use Cash Collateral MERCURITY FINTECH: Registers 6.3M Shares Under MFH Incentive Plan MIS COMMODITIES: Seeks to Tap Adam I. Skolnik as Bankruptcy Counsel MODERN EYE: Gets Court OK to Use Cash Collateral MUNAWAR LAW: Seeks Court Approval to Hire MI Tax as Accountant MY SIZE: Spanish Unit Acquires Key Assets of Percentil for EUR610K NAKED JUICE: S&P Raises ICR to 'CCC', Outlook Negative NEUROONE MEDICAL: AWM Investment Holds 4.8% Stake as of March 31 NEUROONE MEDICAL: Fails to Meet Nasdaq Bid Price Requirement NORDIC CLIMATE: FS KKR Marks $156.9-Mil. 1L Loan at 90% Off NORDIC CLIMATE: FS KKR Marks $173.6-Mil. 1L Loan at 90% Off NORDIC CLIMATE: FS KKR Marks $53.5-Mil. 1L Loan at 90% Off NORTH MISSISSIPPI: Hires Jorgenson Broadcast Brokerage as Broker ODYSSEY MARINE: Regains Nasdaq Bid Price Compliance ONDAS HOLDINGS: Below $1 Nasdaq Minimum, Faces Delisting Risk ONDAS HOLDINGS: Stockholders Back All 5 Proposals at Annual Meeting OPTINOSE INC: Rosalind, 3 Others Report 2.5% Stake as of March 31 OUTFRONT MEDIA: FMR LLC Holds 15% Equity Stake as of March 31 PALWAUKEE HOSPITALITY: Cash Collateral Access Extended to June 25 PARAGON INDUSTRIES: Seeks Chapter 11 Bankruptcy in Oklahoma PARKERVISION INC: Gem Investment, Affiliates Hold 9.99% Stake PARTIDA HOLDINGS: Seeks to Hire Brown Law Firm as Legal Counsel PARTIDA HOLDINGS: Seeks to Tap Brown Law Firm as Bankruptcy Counsel PISHPOSH INC: Voluntary Chapter 11 Case Summary PIZZA VOLTA: Seeks to Hire Winship & Winship as Legal Counsel PRESBYTERIAN HOMES: Taps Jones Nale & Mattingly as Tax Accountant PROS HOLDINGS: All Key Proposals Approved at Annual Meeting PURDUE PHARMA: Former Mckinsey Exec. Sentenced for Disrupting Probe QUALITY PROPERTIES: Seeks to Tap A.O.E. Law & Associates as Counsel RANCHO VILLAGE: Public Sale Auction Set for June 24 RED RIVER: Refuses to Pay Brown Rudnick Legal Fees RELIANT REHAB: FS KKR Marks $49.6-Mil. 1L Loan at 54% Off RENASCENCE INC: Seeks to Hire C. Scott Kirk as Bankruptcy Counsel RENSOL REALTY: Case Summary & One Unsecured Creditor RESHAPE LIFESCIENCES: CVI, Heights Capital Hold 5.7% Stake RETO ECO-SOLUTIONS: Net Loss Narrows to $8.4 Million in 2024 RH LAKEWIND EAST: Seeks Chapter 11 Bankruptcy in New Jersey RMKD LIQUORS: Gets Interim OK to Use Cash Collateral Until June 26 ROCKAWAY CONTRACTING: Case Summary & Six Unsecured Creditors RYVYL INC: CVI Investments, Heights Capital Report 9.9% Stake SASAS HOSPITALITY: Court Extends Cash Collateral Access to June 13 SASH GROUP: Gets Interim OK to Use Cash Collateral Until July 23 SCILEX HOLDING: Updates Stock Option Grants After 1-for-35 Split SHAIK'S LLC: Seeks Approval to Hire David Freydin as Legal Counsel SHAW SERVICES: Voluntary Chapter 11 Case Summary SHELTERING ARMS: Seeks to Hire MYC & Associates as Broker SHREE AMRITAYA: Gets OK to Use Cash Collateral Until June 30 SKYX PLATFORMS: Raises $1.88M via Preferred Stock Sale SLATE RIVER SYSTEMS: Seeks Chapter 11 Bankruptcy in Texas SOORMA TRUCKING: Unsecureds to Split $22K over 60 Months SORENTO ON YESLER: Cash Collateral Access Extended to July 31 SOUTH SIDE: Lauren Goodman Named Successor Subchapter V Trustee SPECIALTY CARTRIDGE: Taps Lamberth Cifelli Ellis & Nason as Counsel STONE DELUXE: Section 341(a) Meeting of Creditors on June 9 TBH RESTAURANT: Seeks Subchapter V Bankruptcy in New York TEKFOR HOLDCO: FS KKR Marks $44.3 Million 1L Loan at 91% Off TELEFLEX INC: Rosen Law Investigates Potential Securities Claims TEXAS AUTO: Hires Keller Williams Realty Coastal Bend as Broker TEXAS AUTO: Seeks to Hire Cheryl Seale CPA as Bookkeeper and OCP THOMAS SUETA: 35 Brew Assets Up for Sale on June 12 THOMPSON ELECTRIC: Court Extends Cash Collateral Access to July 11 TWENTY EIGHT: Seeks to Hire Youngclaus & Company as Accountant UNITED ASSETS: Seeks to Hire Elite Synergy Realty as Broker V850JACKSON LLC: Hires Weissberg and Associates as Legal Counsel VANTAGE SPECIALTY: S&P Downgrades ICR to 'CCC+', Outlook Dev. VERNON HEIGHT REALTY: Seeks Chapter 11 Bankruptcy in New York VIASAT INC: James Bridenstine Resigns; Two New Directors Appointed WASTE SERVICES: FS KKR Marks $60.3-Mil. 1L Loan at 39% Off WE LOVE: Seeks to Hire Darby Law Practice as Bankruptcy Counsel WEBB FAMILY: Seeks to Hire Craig M. Geno as Bankruptcy Counsel WHISKEY RANCH: Unsecured Creditors Will Get 100% in Sale Plan WHITNEY OIL & GAS: Court OKs Interim Use of Cash Collateral WOODHAVEN MEDICAL: Voluntary Chapter 11 Case Summary WW INT'L: Disclosure & Plan Combined Hearing Set for June 17 WW INTERNATIONAL: Chapter 11 Filing Prompts Nasdaq Delisting Notice WW INTERNATIONAL: Galloway Capital Holds 2.87% Equity Stake WW INTERNATIONAL: Stock Transfer Protocol Approved on Interim [] Northgate Auctions New York Mixed-Used Property ********* 23ANDME HOLDING: Senators Propose DNA Privacy Bill Amid Ch. 11 Sale ------------------------------------------------------------------- Alex Wittenberg of Law360 Bankruptcy Authority reports that on Thursday, May 22, 2025, a bipartisan group of U.S. senators introduced legislation aimed at protecting consumers' genetic data in bankruptcy proceedings, citing growing privacy concerns sparked by 23andMe's plan to sell users' DNA information to a pharmaceutical company as part of its Chapter 11 case. About 23andMe 23andMe is a genetics-led consumer healthcare and biotechnology company empowering a healthier future. Through its direct-to-consumer genetic testing, 23andMe offers personalized insights into ancestry, genetic traits, and health risks. The Company has developed a large database of genetic information from over 15 million customers, enabling it to provide health and carrier status reports and collaborate on genetic research for drug development. On the Web: http://www.23andme.com/ On March 23, 2025, 23andMe Holding Co. and 11 affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. E.D. Mo. Lead Case No. 25-40976). The Company disclosed $277,422,000 in total assets against $214,702,000 in total liabilities as of Dec. 31, 2024. Paul, Weiss, Rifkind, Wharton & Garrison LLP; Morgan, Lewis & Bockius LLP; and Carmody MacDonald PC are serving as legal counsel to 23andMe and Alvarez & Marsal North America, LLC as restructuring advisor. Lewis Rice LLC, Moelis & Company LLC, and Goodwin Procter LLP are serving as special local counsel, investment banker, and legal advisor to the Special Committee of 23andMe's Board of Directors, respectively. Reevemark and Scale are serving as communications advisors to the Company. Kroll is the claims agent. 6 YOUNGS ROAD: June 16 Public Sale Auction Set ---------------------------------------------- Secured party Realty Ozark NJ LLC will offer for sale at public auction, pursuant to applicable provisions of that certain pledge agreement dated as of Nov. 14, 2022, made by and among Jonathan Greenstein of 20 Looker Street, Hillside, New Jersey 07205 ("pledgor"), and secured party, all right, title, interests and other equity interests in and to (a) 80% of the limited liability company membership interests in 6 Youngs Road LLC having an address of 20 Looker Street, Hillside, New Jersey 07205 and (b) all related rights and property owned by pledgor relating to such limited liability company interests. The public auction will be held virtually via Zoom Remote Meeting on June 16, 2025, at 2025, at 9:00 a.m. prevailing Eastern Time. Further information regarding the sale, inquiries and information on how to register for the auction, contact Matthew D. Mannion of Mannion Auctions LLC by email at info@jpandr.com or by phone at +1 (212) 381-1844 no later than three business days before the auction date. 98 THATFORD: Case Summary & Four Unsecured Creditors ---------------------------------------------------- Debtor: 98 Thatford LLC 5162 46th Street Woodside, NY 11377 Business Description: 98 Thatford LLC is a limited liability company registered in New York, operating out of Woodside, Queens and established in June 2016. Chapter 11 Petition Date: May 22, 2025 Court: United States Bankruptcy Court Eastern District of New York Case No.: 25-42479 Judge: Hon. Elizabeth S Stong Debtor's Counsel: Roberto Pagan-Lopez, Esq. PAGAN LOPEZ LAW 28-07 Jackson Ave. Tower Three Jackson, 5th Floor Long Island City, NY 11101 Tel: (646) 216-8881 Fax: (646) 490-2159 Email: rpagan@paganlopezlaw.com Estimated Assets: $500,000 to $1 million Estimated Liabilities: $1 million to $10 million The petition was signed by Hafiz Uddin as president. A full-text copy of the petition, which includes a list of the Debtor's four unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/2ZOPQTQ/98_THATFORD_LLC__nyebke-25-42479__0001.0.pdf?mcid=tGE4TAMA AASRAH 889 SUTTER: Seeks Chapter 11 Bankruptcy in New York ---------------------------------------------------------- On May 21, 2025, Aasrah 889 Sutter LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 200 and 999 creditors. The petition states funds will be available to unsecured creditors. About Aasrah 889 Sutter LLC Aasrah 889 Sutter LLC is a limited liability company. Aasrah 889 Sutter LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-42477) on May 21, 2025. In its petition, the Debtor reports estimated assets between $500,000 and $1 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. The Debtors are represented by Roberto L. Pagan-Lopez, Esq. at Pagan Lopez Law Office. ACCELERATE DIAGNOSTICS: Faces Nasdaq Delisting Amid Bankruptcy -------------------------------------------------------------- Accelerate Diagnostics, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company received written notice from the Listing Qualifications Staff of The Nasdaq Stock Market LLC notifying the Company that, as a result of the Bankruptcy Petitions and in accordance with Nasdaq Listing Rules 5101, 5110(b) and IM-5101-1, the Staff has determined that the Company's common stock will be delisted from Nasdaq. In addition, on May 6, 2025, the Company received written notice from the Staff notifying the Company that, for the 30 consecutive business days prior to May 8, 2025, the closing bid price for the Company's common stock had closed below the minimum $1.00 per share required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2). As previously disclosed, on May 8, 2025, the Company and certain of its subsidiaries filed voluntary petitions under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. In the Delisting Notice, the Staff stated that its determination was based on: (i) public interest concerns related to the Bankruptcy Petitions, (ii) concerns regarding the residual equity interest of the existing holders of listed Securities and (iii) concerns about the Company's ability to sustain compliance with all requirements for continued listing on Nasdaq. Specifically, the Staff noted that the Company was not in compliance with the Minimum Bid Price Requirement, nor in compliance with Nasdaq's Market Value of Listed Securities (as defined under Nasdaq rules) requirement pursuant to Nasdaq Listing Rule 5550(b)(2), as previously disclosed in the Company's Current Report on Form 8-K, filed with the U.S. Securities and Exchange Commission on January 30, 2025. As a result, the Staff determined that the Company's Minimum Bid Price Requirement and MVLS Requirement deficiencies served as an additional and separate basis for delisting. The Delisting Notice also indicates that the Company may appeal Nasdaq's determination pursuant to procedures set forth in the Nasdaq Listing Rule 5800 Series. The Company does not intend to appeal the determination and, therefore, it is expected that the Securities will be delisted. About Accelerate Diagnostics Accelerate Diagnostics, Inc. is an in vitro diagnostics company that develops systems for the rapid identification of pathogens and antibiotic susceptibility, with a focus on serious infections such as sepsis. Its products, including the Accelerate Pheno and Arc systems, are used in hospitals and clinical laboratories to improve treatment precision and reduce healthcare costs. The Company has submitted its WAVE system for FDA clearance, with a commercial launch expected in early 2026. Accelerate Diagnostics Inc. and Accelerate Diagnostics Texas, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del., Case No. 25-10837) on May 8, 2025. In the petition signed by Jack Phillips as president and chief executive officer, the Debtors disclosed total assets of $28,556,000 and total debts of $84,596,000 as of December 31, 2024. The Hon. Karen B. Owens oversees the cases. The Debtors tapped Morris, Nichols, Arsht & Tunnell LLP and Fried, Frank, Harris, Shriver & Jacobson LLP as bankruptcy counsels. Solic Capital Advisors LLC serves as restructuring advisor to the Debtors; Perella Weinberg Partners LP acts as investment banker; and Stretto Inc. serves as claims and noticing agent. ACUREN HOLDINGS: S&P Alters Outlook to Stable, Affirms 'B' ICR -------------------------------------------------------------- S&P Global Ratings affirmed its 'B' issuer credit rating and revised the outlook to stable from positive on Acuren Holdings Inc. S&P said, "We also affirmed our 'B' issue-level rating on the company's senior secured debt. The '3' recovery rating is unchanged and indicates our expectation of meaningful (50%-70%; rounded estimate: 50%) recovery in the event of a payment default. "The stable outlook reflects our expectation that Acuren will maintain credit measures commensurate with the rating, including debt to EBITDA of about 5x and free operating cash flow (FOCF) to debt in the high-single-digit percent area in 2025. "Acuren's revenue and EBITDA margin will likely improve this year following a seasonally weak first quarter. We expect full-year revenue growth of 3%-5% in 2025 (in line with our previous expectation of 5%) and 2026, with S&P Global Ratings-adjusted EBITDA margin in the 13%-15% area in 2025 (slightly below our previous expectation of 15.5%-16%) and 2026. Year-over-year revenue improvement was 6.3% in the first quarter, a step toward full-year expectations. The mix has shifted toward lower-margin run-and-maintain work, which we believe is largely rope access services. We estimate S&P Global Ratings-adjusted EBITDA margin was about 9.7% in the quarter. Our base-case assumption reflects demand improvement through the year, with a greater portion of service mix shifting toward higher-margin services. Demand could be subject to temporary delays and we believe there is some degree of uncertainty in the forecast due to the evolving nature of tariff policies and the economic impact therein which could influence the timing of when Acuren's services are performed. "We expect S&P Global Ratings-adjusted debt to EBITDA of about 5x in 2025. This is nearly a turn higher than our previous expectation, and reflects a combination of $50 million upsized first-lien term loan debt following the initially proposed acquisition of Acuren by Mariposa Capital in 2024 and slightly lower EBITDA margins than our previous expectation largely due to revenue mix. As a result, we expect projected metrics will not meet our rating upside threshold soon. We continue to expect Acuren will generate solidly positive FOCF, with S&P Global Ratings-adjusted FOCF to debt in the high-single-digit percent area. "The recent proposed acquisition of NV5 would improve Acuren's scale and delay deleveraging. We see this as representing an appetite for debt-funded acquisitions that we think could constrain material leverage improvement. If the deal closes as outlined in the second half of 2025, we expect pro forma full-year revenue of $2 billion in addition to an S&P Global Ratings-adjusted EBITDA margin of 12%-14% (not including the $100 million in transaction expenses; there could be further upside if it realizes revenue and cost synergies) and S&P Global Ratings-adjusted debt to EBITDA in the mid-5x area. Due to the uncertainty in the transaction close, we do not include NV5's operating performance in our base-case assumptions. We expect to update our forecast to reflect this as the transaction closes. "We believe adding NV5 would complement Acuren's engineering services and end-market diversification. Based on the proposed transaction, we would expect Acuren to raise $850 million in fungible first-lien term loan debt. Acuren has stated its intention to deleverage to a long-term target of 3x after close. However, we believe this could be delayed if the company performs additional debt-financed acquisitions to scale the business. Further, should this transaction not close as expected, we believe Acuren would likely pursue bolt-on acquisitions in line with our previous expectations. "The stable outlook reflects our expectation that Acuren will maintain credit metrics in line with the rating. We forecast S&P Global Ratings-adjusted debt to EBITDA of 5x and FOCF to debt in the high-single-digit percent area in 2025." S&P could lower its rating on Acuren if debt to EBITDA increased above 5x or if FOCF to debt approached the low-single-digit percent area for a sustained period. This could occur if: -- EBITDA margins deteriorated due to maintenance being delayed as customers pause spending due to economic uncertainty or the business mix worsened; or -- The company pursued large debt-financed acquisitions or dividend distributions, materially increasing debt balances. S&P could raise the rating on Acuren if: -- S&P Global Ratings-adjusted debt to EBITDA approached 4x and S&P expected it will remain there on a sustained basis, with FOCF to debt consistently about 10%; or -- The company meaningfully improved scale, likely through leverage-neutral acquisitions. ADVANET AIR: Gets Interim OK to Use Cash Collateral Until June 15 ----------------------------------------------------------------- Advent Air Conditioning, Inc. got the green light from the U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division, to use cash collateral. The order penned by Judge Mark Mullin authorized the company's interim use of cash collateral until June 15 to pay the expenses set forth in its budget, with a 10% variance allowed. As protection, merchant cash advance (MCA) creditors will be granted post-petition liens on the cash collateral and all other post-petition assets of the company to the same extent and with the same validity and priority as their pre-bankruptcy liens. A final hearing is scheduled for June 12, at 11:00 a.m. About Advent Air Conditioning Inc. Advent Air Conditioning Inc. is a family-owned HVAC services company based in Lewisville, Texas, serving the greater Dallas Fort Worth area. Established in 1981, the company specializes in AC repair, heating repair, and HVAC system replacements, offering energy-efficient and indoor air quality solutions. Advent Air Conditioning sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-41696) on May 9, 2025. In its petition, the Debtor reported total assets of $142,986 and total liabilities of $1,333,818. Judge Mark X. Mullin handles the case. The Debtor is represented by Clayton L. Everett, Esq., at Norred Law, PLLC. ALFRESCO GROUP: Seeks Subchapter V Bankruptcy in Oklahoma --------------------------------------------------------- On May 23, 2025, Alfresco Group LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Oklahoma. According to court filing, the Debtor reports $3,246,900 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Alfresco Group LLC Alfresco Group LLC owns 22 acres of commercial land in Tulsa County, Oklahoma, comprising multiple tracts designated for multifamily and hotel development. The parcels, located in Tulsa, have a combined assessed value of $564,300. Alfresco Group LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Okla. Case No. 25-10708) on May 23, 2025. In its petition, the Debtor reports total assets of $564,300 and total liabilities of $3,246,900. Honorable Bankruptcy Judge Paul R. Thomas handles the case. The Debtors are represented by Ron Brown, Esq. at BROWN LAW FIRM PC. AMERICAN COMPONENTS: Hires Lamberth Cifelli Ellis as Counsel ------------------------------------------------------------ American Components Manufacturing and Engineering, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Lamberth, Cifelli, Ellis & Nason, PA as counsel. The firm will provide these services: (a) advise, assist, and represent the Debtor with respect to its rights, powers, duties, and obligations in the administration of this case, and the collection, preservation, and administration of assets of its estate; (b) advise, assist, and represent the Debtor with regard to any claims and causes of action which the estate may have against various parties; (c) advise, assist, and represent the Debtor with regard to investigation of the desirability and feasibility of the rejection or assumption and potential assignment of any executory contracts or unexpired leases, and advise, assist, and represent it with regard to liens and encumbrances asserted against property of the estate and potential avoidance actions for the benefit of the estate, within its rights and powers under the Bankruptcy Code, and the initiation and prosecution of appropriate proceedings in connection therewith; (d) advise, assist, and represent the Debtor in connection with all applications, motions, or complaints concerning reclamation, sequestration, relief from stays, disposition or other use of assets of the estate, and all other similar matters; (e) advise, assist, and represent the Debtor with regard to the preparation, drafting, and negotiation of a plan of reorganization or liquidation and accompanying disclosure statement, or negotiation with other parties presenting a plan of reorganization or liquidation and accompanying disclosure statement; and/or to advise, assist, and represent it in connection with the sale or other disposition of any assets of the estate; (f) prepare pleadings, applications, motions, reports, and other papers incidental to administration, and conduct examinations as may be necessary pursuant to Fed. R. Bankr. P. 2004 or as otherwise permitted under applicable law; (g) provide support and assistance to the Debtor with regard to the proper receipt, disbursement, and accounting for funds and property of the estate; (h) provide support and assistance to the Debtor with regard to the review of claims against it, the investigation of amounts properly allowable and the appropriate priority or classification of same, and the filing and prosecution of objections to claims as appropriate; and (i) perform any and all other legal services incident or necessary to the proper administration of this case and the representation of the Debtor in the performance of its duties and exercise of its rights and powers under the Bankruptcy Code. The firm will be paid at these hourly rates: James Craig Cifelli, Of Counsel $525 Gregory Ellis, Member $525 Sharon Kacmarcik, Member $425 J. Michael Lamberth, Of Counsel $525 G. Frank Nason, IV, Member $425 In addition, the firm will seek reimbursement for expenses incurred. The firm received $31,738 from Specialty Cartridge, Inc. ("SCI") on March 18, 2025, on behalf of the Debtor and SCI. Mr. Nason 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: G. Frank Nason, IV, Esq. Lamberth, Cifelli, Ellis & Nason, P.A. 6000 Lake Forrest Drive, N.W., Suite 290 Atlanta, GA 30328 Telephone: (404) 262-7373 About American Components Manufacturing and Engineering American Components Manufacturing and Engineering Inc. is a company based in Covington, Georgia, that is involved in the production of ammunition components. American Components Manufacturing and Engineering Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-55194) on May 7, 2025. In its petition, the Debtor reports total assets of $1,850,000 and total liabilities of $1,282,157. The Debtors are represented by G. Frank Nason, IV, Esq. at Lamberth, Cifelli, Ellis & Nason, PA. AMERIGLASS CONTRACTOR: Gets Extension to Access Cash Collateral --------------------------------------------------------------- Ameriglass Contractor Corp. received another extension from the U.S. Bankruptcy Court for the Southern District of Florida, Fort Lauderdale Division, to use cash collateral. The court's order authorized the company's interim use of cash collateral until June 4 to pay its expenses. This authorization will terminate early upon dismissal or conversion of the company's Chapter 11 case; appointment of a Chapter 11 trustee, responsible officer or examiner with enlarged powers; cessation of its operations; or failure to comply with the material terms of the interim order. As protection for the company's use of their cash collateral, creditors that have filed a UCC-1 financing statement will be granted a replacement lien on the company's property, with the same validity and priority as their pre-bankruptcy liens. The next hearing is scheduled for June 4. About Ameriglass Contractor Corp Ameriglass Contractor Corp. specializes in residential and commercial glass repair and replacement services in the Fort Lauderdale, Florida area. It offers a range of services, including window and sliding door repairs, storefront glass repairs, and high-impact window installations. The company operates 24/7, providing emergency glass repair services. Ameriglass Contractor Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-12349) on March 4, 2025. In its petition, the Debtor reported total assets of $423,551 and total liabilities of $1,389,948. Judge Scott M. Grossman handles the case. The Debtor is represented by Susan D. Lasky, Esq. ANTHONY'S TRUCK: Seeks to Hire Pepper & Nason as Legal Counsel -------------------------------------------------------------- Anthony's Truck Repair Ltd. Co. seeks approval from the U.S. Bankruptcy Court for the Southern District of West Virginia to employ Pepper & Nason as counsel. The firm will provide 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) prepare on behalf of the Debtor necessary legal papers; and (c) perform all other legal services which may be necessary herein. The firm will be paid at these hourly rates: William Pepper, Attorney $475 Andrew Nason, Attorney $475 Emmett Pepper, Attorney $390 Th firm received a retainer of $30,000 from the Debtor. Mr. Nason 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: Andrew S. Nason, Esq. Pepper & Nason 8 Hale Street Charleston, WV 25301 Telephone: (304) 346-0361 About Anthony's Truck Repair Anthony's Truck Repair Ltd. Co. filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. S.D. W. Va. Case No. 25-50023) on Apr. 28, 2025, listing under $1 million in both assets and liabilities. Judge B. McKay Mignault oversees the case. Andrew S. Nason, Esq., at Pepper & Nason serves as the Debtor's counsel. APTIM CORP: S&P Alters Outlook to Negative, Affirms 'B-' ICR ------------------------------------------------------------ S&P Global Ratings revised its outlook to negative from stable and affirmed all ratings including the 'B-' issuer credit rating on U.S.-based Aptim Corp. The negative outlook reflects the possibility that S&P could downgrade Aptim within the next 12 months if the company's margins remain depressed or contract further and/or revenue growth does not rebound at the magnitude expected, causing free operating cash flow (FOCF) to be notably more negative on a sustained basis and a further drain on Aptim's liquidity. Aptim's deteriorated credit metrics have reduced its financial flexibility and heightened its reliance on customer's moving forward with projects on a timely manner. The company reported stagnant revenue growth in the first quarter of 2025 relative to the first quarter of 2024 with the revenue mix shifting toward lower-margin work. This follows Aptim's significant decline in revenue in 2024 of 21.5%, falling materially short of prior revenue growth expectations in the low-single digit area for the year. The shortfall was primarily because of a sharp decline in emergency response activity following a strong volume year in 2023, in addition to the wind-down of some major construction projects. Conversely, the company experienced strong growth in its environmental solutions business, partially offsetting some of the decline in other segments. Additionally, the company's S&P Global Ratings-adjusted EBITDA margin contracted to 5.0% in 2024, down 430 basis points (bps) from 2023, due to a weaker mix and continued losses on fixed-price construction contracts, which the company is in the process of phasing out. On a last-12-month (LTM) basis, margins deteriorated an additional 50 bps following the first quarter of 2025 as a stronger first quarter of 2024 fell out of the calculation. The company had S&P Global Ratings-adjusted debt to EBITDA of 10.5x at the end of 2024, which has deteriorated further to 11.9x as of the end of the first quarter of 2025. Aptim's leverage profile at the end of 2024 and its 2025 trajectory are notably weaker than S&P's previous expectations of leverage in 5x range in 2024 and 2025. Due to the depressed operating performance, the company reported an S&P Global Ratings-adjusted FOCF deficit of approximately $34 million resulting in an FOCF/debt metrics of negative 6.8%, well below our prior expectation of FOCF generation in the range of $15 million-$25 million and FOCF/debt in the low-single digits. S&P said, "We see significant risks to the forecast that could constrain a material improvement in credit metrics. In 2025, we expect a recovery in revenue, with growth in the low-double-digit area driven by continued strength in environmental solutions work, and a boost in nuclear decommissioning activity and storm-related work following late-2024 hurricanes. The company's expected revenue growth is supported by a strong backlog of $1.9 billion as of the end of the first quarter. However, given the current uncertain macroeconomic environment and the company's relatively high exposure to government work, and while the company has yet to experience any material impacts from the change in administration, we still see significant risk of project delays or cancellations that could result in stifled revenue growth during 2025. "In 2025, we expect margins to improve to 6.0%–6.5%, supported by a more favorable business mix and the ongoing benefit of cost-reduction initiatives, in addition to the wind down of the remaining fixed-price construction contracts that were a significant drag on EBITDA in 2024. We expect the remaining contracts will be completed in 2025 and 2026. As a result, we expect some improvement in leverage metrics due to margin improvements; however, we still expect leverage to remain elevated and well above our previous expectations. "While Aptim currently has sufficient liquidity to manage our current expectations for FOCF deficits in 2025, a continuation of depressed operating performance could accelerate deficits causing liquidity to deteriorate. Although we expect revenue and profits to recover in 2025, we expect FOCF to remain in deficit in the range of $10 million to $15 million, which will continue to weigh on the company's financial flexibility. While liquidity remains adequate with approximately $120 million in cash and $22 million in asset-based lending (ABL) availability at the end of the first quarter, persistent FOCF deficits could strain liquidity buffers and constrain the company's ability to organically reduce leverage." Additionally, the company's borrowing base on its ABL facility has declined in recent quarters given a reduction in accounts receivable. If the company's revenue growth rebounds slower than expected or if revenue declines further, this could further limit availability on the ABL. Should Aptim experience a slower rebound in its operating performance in 2025, FOCF deficits could accelerate and persist for longer, the company's liquidity profile could deteriorate and could put the company at risk of an unsustainable capital structure, which could result in a downgrade of the company. S&P said, "The negative outlook reflects the possibility that we could downgrade Aptim within the next 12 months if the company's margins remain depressed or contract further and, or revenue growth does not rebound at the magnitude expected, causing FOCF to be notably more negative on a sustained basis and a further drain on Aptim's liquidity. "We could lower our ratings on Aptim if its margins do not rebound or further weaken or if revenue growth is materially less than expected, resulting in sustained and increased negative FOCF, leading us to believe its financial commitments are unsustainable. This could occur if the company's mix does not improve toward higher-margin projects (including emergency response work) or the company experiences significant delays or cancellations of contracts. "We could revise our outlook on Aptim to stable if operating performance stabilizes resulting in sustained breakeven to positive free cash flow in conjunction with an improving leverage profile." ARCHDIOCESE OF NEW ORLEANS: Apostolates to File for Bankruptcy -------------------------------------------------------------- Certain apostolates of the Archdiocese of New Orleans are set to file for prepackaged Chapter 11 bankruptcy as part of a $179.2 million settlement negotiated with the Catholic diocese and abuse representatives of abuse survivors. A group of 188 apostolates of the Diocese joined the multi-million-dollar settlement that would address 550 claims of child sex abuse against the Diocese and related entities. The 188 apostolates include church parishes, schools, nursing homes, senior living facilities, charitable organizations and other community, service agencies and facilities affiliated with the archdiocese. According to court filings, the Debtor, the Apostolates, and the Official Committee of Unsecured Creditors have reached a memorandum of understanding (MOU) that provides that certain of the Apostolates will file pre-packaged Chapter 11 cases on a date to be determined. The Debtor, the Apostolates and the Committee will then file a Joint Plan or Plans of Reorganization incorporating the terms of the $179.2 million settlement. A redacted copy of the MOU included in publicly available court filings did not identify the Apostolates that would be filing for Chapter 11 bankruptcy. The MOU was filed as an attachment to a motion by the parties to extend the appointments of John W. Perry, Jr. and the Hon. Christopher Sontchi (Ret.) as mediators until Sept. 30, 2025, as their appointments were due to expire May 24, 2025. A third mediator, United States Bankruptcy Judge Gregg W. Zive, was already granted an extension. According to the court filings, the MOU has been redacted, in part, to protect the marketing and sale process of the real estate that will be sold as part of the transaction. The MOU provides that: * The Debtor and the Apostolates shall pay $130 million into a trust for the benefit of survivors; * The Debtor and the Apostolates shall execute and deliver to the trust a promissory note in the amount of $20 million, which will be paid from the proceeds of the sale of certain assets; * The gross proceeds arising from all settlements reached between any settling insurer and the Diocese will be paid to the trust; * The parties will interview and select a broker to market for sale on or before Tuesday, May 27, 2025, and will expeditiously interview and select a third- party neutral to administer the sale process. Non-Monetary Provisions The Debtor and the Committee have also agreed to unprecedented non-monetary provisions and procedures that will safeguard against future abuse and provide services to survivors. The revised non-monetary plan provisions will be an essential component of the joint plan that they intend to file in the near future. As agreed by the parties, the Diocese will strive to become the "gold standard" in youth protection and Child Sexual Abuse prevention. The Diocese will continue to clearly state that Child protection and the prevention of Child Sexual Abuse is of paramount importance. Accordingly, the Diocese will not compromise the protection of Children from Child Sexual Abuse and is committed to the care and well-being of survivors of abuse. Advisors Jones Walker LLP, led by R. Patrick Vance, Elizabeth J. Futrell, Mark A. Mintz, and Samantha A. Oppenheim, are serving as counsel for the Diocese. Heller, Draper, & Horn, LLC, led by Douglas S. Draper, Leslie A. Collins, and Greta M. Brouphy, are advising the Apostolates. Pachulski Stang Ziehl & Jones LLP, led by Bradley C. Knapp, James I. Stang, Iain A.W. Nasatir, Andrew W. Caine, and W. Steven Bryant; and Troutman Pepper Locke LLP, led by Bradley C. Knapp, and Omer F. Kuebel, III, are representing the official Committee of Unsecured Creditors. About Roman Catholic Church of The Archdiocese Of New Orleans The Roman Catholic Church of the Archdiocese of New Orleans -- https://www.nolacatholic.org/ -- is a non-profit religious corporation incorporated under the laws of the State of Louisiana. Created as a diocese in 1793, and established as an archdiocese in 1850, the Archdiocese of New Orleans has educated hundreds of thousands in its schools, provided religious services to its churches and provided charitable assistance to individuals in need,including those affected by hurricanes, floods, natural disasters, war, civil unrest, plagues, epidemics, and illness. Currently, the archdiocese's geographic footprint occupies over 4,200 square miles in southeast Louisiana and includes eight civil parishes: Jefferson, Orleans, Plaquemines, St. Bernard, St. Charles, St. John the Baptist, St. Tammany, and Washington. The Roman Catholic Church for the Archdiocese of New Orleans sought Chapter 11 protection (Bankr. E.D. La. Case No. 20-10846) on May 1, 2020. The archdiocese was estimated to have $100 million to $500 million in assets and liabilities as of the bankruptcy filing. Judge Meredith S. Grabill oversees the case. Jones Walker, LLP and Blank Rome, LLP, serve as the archdiocese's bankruptcy counsel and special counsel, respectively. Donlin, Recano & Company, Inc., is the claims agent. The U.S. Trustee for Region 5 appointed an official committee of unsecured creditors. The committee is represented by the law firms of Pachulski Stang Ziehl & Jones, LLP and Locke Lord, LLP. Berkeley Research Group, LLC is the committee's financial advisor. ARCHDIOCESE OF NEW ORLEANS: Nearly $180M Settlement Awaits Approval ------------------------------------------------------------------- The Official Committee of Unsecured Creditors for the Archdiocese of New Orleans, comprised of four abuse survivors representing the interests of the survivor community, has reached a settlement with the Archdiocese, the Archdiocese's parishes and other affiliates, and certain of the Archdiocese's insurers. Under this proposed resolution, these parties will settle sex abuse claims by paying $179.2 million into a trust for the benefit of survivors--more than 20 times the Archdiocese's initial settlement estimate when its bankruptcy case was filed in May 2020. This proposed settlement remains subject to approval by the Bankruptcy Court, abuse survivors, and other Archdiocese creditors. In addition to the monetary compensation, this settlement also includes unprecedented non-monetary provisions and procedures that will safeguard against future abuse and provide services to survivors. These provisions include a Survivors' Bill of Rights and significant changes to the Archdiocese's process for handling abuse claims. The Archdiocese of New Orleans is the first bankrupt archdiocese in the United States to commit to a statement of abuse survivors' entitlement to justice in connection with a bankruptcy plan. These non-monetary provisions will also provide greater transparency regarding the history of abuse in the Archdiocese. The settlement's terms require the publication of perpetrator files and other abuse-related documents, which will shed light on the Archdiocese's handling of decades of clergy sex abuse. Among other improvements, the settlement will establish a public archive that will serve as a repository of the history of abuse within the Archdiocese. This public archive will be administered by a secular institution of higher learning and will be accessible to the public, as well as to academia, for research on clergy abuse in Louisiana. Finally, the site of the former Hope Haven orphanage in Marrero, Louisiana will include a new memorial to the generations of children who suffered the horrors of sexual abuse at that infamous Archdiocese facility. Throughout the five-year bankruptcy process, the Committee has remained dedicated to achieving three key objectives: (1) providing reasonable compensation to survivors, (2) overhauling the Archdiocese's process for responding to abuse allegations, and (3) bringing enhanced transparency to the Archdiocese's history of handling abuse allegations. The proposed settlement achieves all three goals. It will provide $179.2 million to a trust to benefit survivors--an amount that will be paid following the Archdiocese's emergence from bankruptcy. Survivors will also receive additional compensation (a) from the sale of certain Archdiocese real properties and (b) from potential litigation recoveries against the Archdiocese's last, remaining non-settling insurer. Notably, the nearly $180 million settlement will include proceeds from the sale of the former Hope Haven property--that notorious site of clergy abuse. Jim Stang of Pachulski Stang Ziehl & Jones, LLP, who serves as co-counsel to the Committee in the Archdiocese's bankruptcy case, praised the Committee's tenacity over the last five years. "The Committee delivered on its commitment to provide survivors a settlement that provides fair compensation, transparency and, importantly, unprecedented child-protection measures," said Mr. Stang. "We look forward to working with all survivors to bring this five-year bankruptcy case to an acceptable resolution." About Roman Catholic Church of The Archdiocese Of New Orleans The Roman Catholic Church of the Archdiocese of New Orleans -- https://www.nolacatholic.org/ -- is a non-profit religious corporation incorporated under the laws of the State of Louisiana. Created as a diocese in 1793, and established as an archdiocese in 1850, the Archdiocese of New Orleans has educated hundreds of thousands in its schools, provided religious services to its churches and provided charitable assistance to individuals in need, including those affected by hurricanes, floods, natural disasters, war, civil unrest, plagues, epidemics, and illness. Currently, the archdiocese's geographic footprint occupies over 4,200 square miles in southeast Louisiana and includes eight civil parishes: Jefferson, Orleans, Plaquemines, St. Bernard, St. Charles, St. John the Baptist, St. Tammany, and Washington. The Roman Catholic Church for the Archdiocese of New Orleans sought Chapter 11 protection (Bankr. E.D. La. Case No. 20-10846) on May 1, 2020. The archdiocese was estimated to have $100 million to $500 million in assets and liabilities as of the bankruptcy filing. Judge Meredith S. Grabill oversees the case. Jones Walker, LLP and Blank Rome, LLP, serve as the archdiocese's bankruptcy counsel and special counsel, respectively. Donlin, Recano& Company, Inc., is the claims agent. The U.S. Trustee for Region 5 appointed an official committee of unsecured creditors on May 20, 2020. The committee is represented by the law firms of PachulskiStangZiehl & Jones, LLP and Locke Lord, LLP. Berkeley Research Group, LLC is the committee's financial advisor. ARCHDIOCESE OF SAN FRANCISCO: Bankruptcy Data Shows Abuse Claims ---------------------------------------------------------------- The committee representing survivors of childhood sexual abuse in the bankruptcy of The Roman Catholic Archbishop of San Francisco has released, following bankruptcy Judge Dennis Montali's approval over the Archdiocese's objection, data related to the claims filed in the bankruptcy. Pachulski Stang Ziehl & Jones, LLP is counsel to the survivors' committee. Over 530 survivors filed claims against the Archdiocese of San Francisco alleging sexual abuse as children. The Archdiocese of San Francisco declared bankruptcy in 2023, which prevented individual survivors from continuing their individual state court cases and telling their individual stories. The survivors' committee's release of the Claims Data pulls information from those individual claims but paints a vivid picture of the abuse that occurred in the Archdiocese of San Francisco. "These numbers tell only a small part of this shocking narrative," said Margie O'Driscoll, co-chair of the survivors' committee. "For every person who came forward, there are more who have not come forward due to shame, fear of repercussion, or concern about their professional reputation," she explained. O'Driscoll further noted the high percentage of locations of abuse, saying, "there is an obvious systemic issue revealed in this data that is alarming." Judge Montali noted that survivors "are not data points. They are aging survivors of clergy abuse, with stories that are both unique to themselves and similar to other survivors." "Each survivor's experience cannot be diminished to numbers on a chart," said Brittany Michael, of Pachulski Stang Ziehl & Jones LLP. "But the Claims Data tells its own story of the depth and breadth of abuse that occurred in this Archdiocese," she added. The following Claims Data shows many important statistics about the abuse that occurred within the Archdiocese: -- 81% (71 of the 88) parishes in the Archdiocese were implicated in the abuse claims. -- Survivors were as young as two and three years old when perpetrators associated with the Archdiocese began abusing them. More than half of the abuse allegations began when the survivor was ten years old or younger. -- 68 perpetrators were named by more than one survivor as having sexually assaulted them as children. -- There were over 110 allegations of anal or vaginal rape and over 210 allegations of oral rape. -- While the Archdiocese often refers to abuse as a historic problem, close to forty survivors who were abused in the last three decades came forward in the bankruptcy. Given what is known about delayed disclosure, the full extent of the abuse from the past three decades may not be known for years to come. About San Francisco Archdiocese The Roman Catholic Archbishop of San Francisco, Archdiocese of San Francisco, is a tax exempt religious organisation. The Archdiocese of San Francisco is a Latin Church ecclesiastical territory or diocese of the Catholic Church in the northern California region of the United States. The Archdiocese of San Francisco was erected on July 29, 1853, by Pope Pius IX and its cathedral is the Cathedral of Saint Mary of the Assumption. The Archdiocese sought relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Cal. Case No. 23-30564) on Aug. 21, 2023. In the petition filed by Fr. Patrick Summerhays as vicar general and moderator of the Curia, the Archdiocese reported $100 million to $500 million in assets and liabilities. The Hon. Dennis Montali oversees the case. The Debtor tapped Feldserstein Fitzgerald Willoughby as counsel. ARTIFICIAL INTELLIGENCE: Backs July 2025 Launch of OTCID Market --------------------------------------------------------------- Artificial Intelligence Technology Solutions, Inc. affirmed its support for the July 2025 launch of the OTCID Market. Designed to elevate disclosure and reporting requirements for companies on the over-the-counter markets, the OTCID Market offers a long-anticipated advancement in transparency and structure. AITX views the transition as a significant and necessary improvement for Companys and investors alike, and it has already completed the application process to participate under the new designation. The upcoming launch of the OTCID Market represents a welcomed evolution in over-the-counter trading. For years, the Pink Open Market has served as a wide entry point for public companies, but its reputation has been shaped by inconsistent disclosure practices and minimal oversight. The introduction of OTCID creates a modern framework that distinguishes companies committed to rigorous financial reporting, investor transparency, and operational accountability. As OTC Markets advances this new tier, it signals a stronger commitment to information integrity, something long requested by serious investors. "This shift is timely, and it aligns perfectly with the direction we've already been heading," said Steve Reinharz, CEO of AITX. "We believe the market will reward transparency, discipline, and forward momentum, and OTCID is a meaningful platform for companies like ours that are building for long-term growth and eventual uplisting. AITX welcomes the higher standard and the opportunity to further demonstrate our progress to the investment community." AITX has consistently exceeded the disclosure benchmarks associated with the Pink Current tier by filing detailed periodic reports with the Securities and Exchange Commission (SEC). These filings go beyond basic OTC requirements, providing investors with audited financials, executive compensation details, management discussion and analysis, and other material disclosures. By maintaining this standard since 2019, AITX has demonstrated a disciplined and transparent approach to public company operations, well in line with the expectations anticipated under the new OTCID structure. "We view OTCID as another step that affirms our direction, transparency, and discipline. Our path to NASDAQ requires progress at every level, and we welcome frameworks that support that momentum," concluded Reinharz. As the OTCID Market prepares to launch, AITX stands ready to meet its elevated standards. The Company views this transition as a pivotal step toward broader market recognition and enhanced investor confidence. By aligning with OTCID's commitment to transparency and accountability, AITX reinforces its dedication to long-term growth and value creation for its shareholders. 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. ASAP HIGHLINE: Public Sale Auction Set for July 29 -------------------------------------------------- The 100% of the limited liability company interests in ASAP Highline Ocala LLC ("pledged entity") together with all related rights and property relating thereto as described in the pledge agreement ("collateral"), will be offered for sale at a public auction and sold to the successful bidder on July 29, 2025, at 3:00 p.m. Eastern Prevailing Time. The sale will be conducted in person at the offices of Newmark, 400 S Park Ave., Suite 220, Winter Park, Florida 32789, and virtually via Zoom. The principal asset of pledged entity is a manufactured housing and RV community located at 4039 NW Blitchton Road, Ocala, Florida ("property"). The sale is held to enforce the rights of CPIF MRA LLC ("secured party"), as secured party under (a) that certain loan agreement dated Nov. 17, 2022 between secured party and pledged entity, and (b) that certain pledge agreement dated Nov. 17, 2022, between Oaktree Ocala JV, LC ("pledgor") and secured party. Interested parties who would like additional information regarding the collateral and bidding procedures for the public sale should execute the confidentiality agreement which can be reviewed at the website, https://tinyurl.com/34uzaak5. For questions and inquiries, contact Stephen Schwalb of Newmark, 2601 Olive Street, Suite 1600, Dallas, Texas 75201, (469) 467-2084, Email: stephen.schwalb@nmrk.com. ASBESTOS CORP: Receiver Asks Court to Deny Receivership Stay ------------------------------------------------------------ HarrisMartin reports that a court-appointed Receiver in South Carolina, tasked with investigating the insurance assets of Asbestos Corporation Limited, has filed a response in the company's bankruptcy case, alleging that the company has engaged in more than a decade of "discovery abuse." Peter D. Protopapas, serving as the Receiver, submitted a limited response on May 14, 2025 in the U.S. Bankruptcy Court for the Southern District of New York, addressing Raymond Chabot Inc.'s motion for ex parte emergency and provisional relief. About Asbestos Corp Ltd. Mazarin Inc. and Asbestos Corporation Limited are two natural resource companies whose focus is on the development of industrial minerals in order to provide value-added products that meet the criteria of customers worldwide with regard to performance and economic and ecological concerns. Mazarin's shares trade on the NEX Board of TSX Venture Exchange under the stock symbol MAZ.H. Asbestos Corporation Limited's shares trade on the NEX Board of TSX Venture Exchange under the stock symbol AB.H. Asbestos Corp Ltd. sought relief under Chapter 15 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-10934) on May 6, 2025. Honorable Bankruptcy Judge Martin Glenn handles the case. The Debtor's foreign representative is represented by Evan C. Hollander, Esq. at ORRICK, HERRINGTON & SUTCLIFFE LLP. Raymond Chabot, Inc. is the Debtor's foreign representative. ATARA BIOTHERAPEUTICS: Sees 30% Reduction in Workforce by August ---------------------------------------------------------------- Atara Biotherapeutics, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company announced a reduction in its workforce that will impact approximately 30% of its current employees, retaining approximately 23 employees essential to executing on the Company's strategic priorities. The Company expects to complete the workforce reduction by August 2025. The Company expects to recognize approximately $1.4 million for severance and related benefits for employees laid off under the reduction in force. These charges are primarily one-time termination benefits and are primarily cash charges. The Company may also incur other charges or cash expenditures not currently contemplated due to events that may occur as a result of, or associated with, the workforce reduction. Additional details will be provided in the Company's Quarterly Report on Form 10-Q for the period ending June 30, 2025. About Atara Biotherapeutics Atara Biotherapeutics, Inc. -- atarabio.com -- is a biotechnology company focused on developing off-the-shelf cell therapies that harness the power of the immune system to treat difficult-to-treat cancers and autoimmune conditions. With cutting-edge science and differentiated approach, Atara is the first company in the world to receive regulatory approval of an allogeneic T-cell immunotherapy. The Company's advanced and versatile T-cell platform does not require T-cell receptor or HLA gene editing and forms the basis of a diverse portfolio of investigational therapies that target EBV, the root cause of certain diseases, in addition to next-generation AlloCAR-Ts designed for best-in-class opportunities across a broad range of hematological malignancies and B-cell driven autoimmune diseases. Atara is headquartered in Southern California. San Francisco, Calif.-based Deloitte & Touche LLP, the Company's auditor since 2013, issued a "going concern" qualification in its report dated March 7, 2025, attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, citing that the Company's recurring losses from operations raises substantial doubt about its ability to continue as a going concern. As of Dec. 31, 2024, Atara Biotherapeutics had $109.1 million in total assets, $206.4 million in total liabilities, and a total stockholders' deficit of $97.28 million. ATX NETWORKS: FS KKR Marks $45.1-Mil. Loan at 21% Off ----------------------------------------------------- FS KKR Capital Corp. (FSK) has marked its $45,100,000 loan extended to ATX Networks Corp. to market at $35,600,000 or 79% of the outstanding amount, according to Saratoga FSK's Form 10-K for the fiscal year ended March 31, 2025, filed with the U.S. Securities and Exchange Commission. FSK is a participant in a Subordinated Loan to ATX Networks Corp. The loan accrues interest at a rate of 10% per annum. The loan matures September 2028. FSK was incorporated under the general corporation laws of the State of Maryland on December 21, 2007 and formally commenced investment operations on January 2, 2009. The Company is an externally managed, non-diversified, closed-end management investment company that has elected to be regulated as a business development company, or BDC, under the Investment Company Act of 1940. The Company has various wholly-owned subsidiaries, including special-purpose financing subsidiaries and subsidiaries through which it holds interests in portfolio companies. FSK is led by Michael C. Forman as Chief Executive Officer, Steven Lilly as Chief Financial Officer, and William Goebel as Chief Accounting Officer. The Fund can be reach through: Michael C. Forman FS KKR Capital Corp. 201 Rouse Boulevard Philadelphia, PA 19112 Telephone: (215) 495-1150 About ATX Networks Corp. ATX Network Corp. provides cable networks. The Company offers optical access, access networking, video processing, audio content management, and media distribution services. AYRO INC: Shareholders Approve Share Increase, Elect Six Directors ------------------------------------------------------------------ AYRO, Inc. shareholders approved several proposals at the May 19 annual meeting, including the election of six directors and a move to increase authorized common stock to 1.2 billion shares, as detailed in a Form 8-K filed with the Securities and Exchange Commission. Stockholders also ratified the appointment of CBIZ CPAs P.C. as auditor and gave the board discretion to enact a reverse stock split at a ratio between 1-for-2 and 1-for-100. The newly elected directors are Joshua Silverman, Wayne R. Walker, George Devlin, Sebastian Giordano, Zvi Joseph, and Greg Schiffman. They will serve a one-year term or until their successors are elected and qualified. About AYRO Texas-based AYRO, Inc., formerly known as DropCar, Inc. -- http://www.ayro.com-- designs and manufactures compact, sustainable electric vehicles for closed campus mobility, low speed urban and community transport, local on-demand and last mile delivery and government use. The Company's four-wheeled purpose-built electric vehicles are geared toward commercial customers, including universities, business and medical campuses, last mile delivery services and food service providers. The Company has commenced sales and delivery of its current model, the AYRO Vanish in support of the aforementioned markets. Ayro, Inc. reported net loss of $34.16 million in 2023, a net loss of $22.94 million in 2022, a net loss of $33.08 million in 2021, a net loss of $10.76 million in 2020, a net loss of $8.66 million in 2019, and a net loss of $18.75 million in 2018. As of March 31, 2025, the Company had cash and cash equivalents balance totaling $12,818,283, restricted cash of $109,215, and marketable securities of $2,479,725. The Company had net income of $845,011 as a result of the non-cash changes in the warrant liability and the derivative liability for the three months ended March 31, 2025, and negative cash flow used in operations of $1,476,150 for the three months ended March 31, 2025. In addition, overall working capital decreased by $8,514,153 during the three months ended March 31, 2025. Management believes the cash on hand as of March 31, 2025, will be insufficient to support operations for the next twelve months following the release of these unaudited condensed consolidated financial statements. This situation raises significant doubt about the Company's ability to continue as a going concern for that period. * * * On July 18, 2024, the Company received a letter from the Listing Qualifications Department of the Nasdaq Stock Market indicating that, based upon the closing bid price of the Company's common stock for the 30 consecutive business days between June 3, 2024, to July 17, 2024, the Company did not meet the minimum bid price of $1.00 per share required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2). On Jan. 15, 2025, the Company received notice from the Staff granting the Company's request for a 180-day extension to regain compliance with the Rule, or until July 14, 2025. AZ 175TH STREET: Seeks Chapter 11 Bankruptcy in New York -------------------------------------------------------- On May 23, 2025, AZ 175th Street LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of New York. 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 AZ 175th Street LLC AZ 175th Street LLC leases real estate properties. AZ 175th Street LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-42550) on May 23, 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 Elizabeth S. Stong handles the case. The Debtors are represented by Lawrence Morrison, Esq. at MORRISON TENENBAUM PLLC. AZURITY PHARMACEUTICALS: S&P Withdraws 'B' Issuer Credit Rating --------------------------------------------------------------- S&P Global Ratings withdrew its 'B' issuer credit rating on Azurity Pharmaceuticals Inc. at the issuer's request following the company's private refinancing. At the same time, S&P withdrew its 'B' issue-level rating and '3' recovery rating on the company's senior secured debt because it has repaid all its rated debt facilities. At the time of withdrawal, S&P's outlook on the company was stable. BEAVER FALLS, PA: S&P Affirms 'BB+' ICR, Outlook Positive --------------------------------------------------------- S&P Global Ratings removed its rating on the City of Beaver Falls, Pa.'s series 2017A general obligation (GO) notes and series 2017B GO bonds from CreditWatch, where it had been placed with negative implications March 5, 2025, because of the lack of a fiscal 2023 audit, which has now been received. At the same time, S&P affirmed its 'BB+' rating on the notes and bonds. S&P said, "The positive outlook reflects our view that Beaver Falls' liquidity and operating challenges could be remediated given the more than $37 million proceeds the city expects to receive from the potential sale of its wastewater treatment plant, which we anticipate closing in fiscal 2025. "Governance risks were a negative factor in our analysis considering historical financial distress and persistent delays in financial reporting. We view social capital risks as a negative consideration in our credit analysis because Beaver Falls' weak sociodemographic profile could inhibit the city's ability to raise or collect revenue. We view the change to a home-rule charter city as a governance opportunity that will increase Beaver Falls' legal ability to raise revenue, but the city's demographic profile limits its practical ability to do so. We view environmental factors as neutral in our credit analysis. "The positive outlook reflects our views that there is a one-in-three chance we could raise the rating over the next year if Beaver Falls' liquidity improves given the Aqua sale and management's plans to use the interest that will be generated from the windfall to close its budget gap. "If Beaver Falls' liquidity does not improve as expected because the sale of the wastewater treatment plant is not approved and the city does not make the necessary revenue or expenditure adjustments to maintain a stronger cash position, we would likely take a negative rating action. "We could raise the rating, potentially by multiple notches, if Beaver Falls' reserve and liquidity positions substantially improve due to the sale of the city's wastewater treatment plant." BENSON HILL: Assets Sold to Confluence Genetics, Exits Chapter 11 ----------------------------------------------------------------- The United States Bankruptcy Court for the District of Delaware approved the sale of the business assets of Benson Hill to Confluence Genetics, LLC. This sale enables the historic business to continue outside of Chapter 11 bankruptcy with new leadership and supportive ownership, starting a new chapter as a leaner, innovation-driven leader in soybean trait development. Confluence Genetics is set to embark on a new chapter as an agtech start-up following its acquisition by a group of seasoned agribusiness investors, spearheaded by Expedition Ag Partners and S2G Investments. The company will focus on scaling its proprietary ultra-high protein soybean genetics for animal feed, expanding market position in its specialty food grade portfolio, and expanding geographies by leveraging its unique soy germplasm, AI-powered breeding platform, and speed breeding facility. "This is more than a financial reset--it's a strategic reboot and a bright beginning," said Kim Hurst, a seasoned agribusiness professional and Confluence Genetics' newly appointed Chief Executive Officer. "With our proprietary genetics, CropOS(R) technology platform, and state-of-the-art speed breeding facility, we will deliver high-value, differentiated, quality trait soybeans." Confluence Genetics' acquisition includes more than 350 patents issued or pending, and its 2029 soybean class--recently planted in 2025 field trials--is expected to deliver advanced quality traits in the industry. This lineup of value-added varieties is designed to deliver higher protein, boost oil quality, and offer differentiated genetic advancements across the agriculture value chain. Expedition Ag Partners President and CEO Mike DeCamp is a veteran agribusiness executive and investor. He played a pivotal role in leading the Debtor-In-Possession financing. As the incoming Board Executive Chairman for Confluence Genetics, DeCamp emphasized that the company's future is built upon valuable lessons learned from past experiences and possesses significant growth potential. "Confluence Genetics has the right tools, talent, and technology to shape soy innovation in ways that we're only beginning to appreciate," said DeCamp. "We at Expedition Ag believe Confluence Genetics has a promising future as a nimble innovation engine that will deliver value across the value chain, from farm gate to end user. Our team is thrilled to support Confluence Genetics as it combines the ambitious spirit of a startup with the disciplined approach of a category leader." Under Hurst's leadership, Confluence Genetics will be headquartered at 1200 Research Boulevard in Creve Coeur, Mo., also the location of its indoor speed breeding facility, and will operate with an experienced team of approximately 60 employees. Confluence Genetics represents the latest addition to the 39 North Ag Tech Innovation District, a vibrant agtech ecosystem of researchers, startups, companies, and economic development players in St. Louis. Additional Information Additional information about Confluence Genetics and its growing portfolio of soybean genetics will soon be available at www.confluence.ag. The sale to Confluence Genetics is expected to significantly reduce costs, streamline operations, and complete the planned transition to an asset-light licensing model. The sale's closing follows court approval and satisfaction of customary closing conditions. About Benson Hill Benson Hill, Inc. is an ag-tech company focused on innovating soy protein through advanced genetics. Using its CropOS technology platform, Benson Hill creates food and feed that are more nutritious, functional, and produced efficiently, offering sustainability benefits to the food and feed sectors. Benson Hill and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Lead Del. Case No. 25-10539) on March 20, 2025. The petitions were signed by Daniel Cosgrove as interim chief executive officer. In their petitions, the Debtors reported total assets of $137,542,000 and total debts of $110,701,000. Judge Thomas M. Horan handles the cases. The Debtors tapped Faegre Drinker Biddle & Reath, LLP as bankruptcy counsel; Piper Sandler as investment banker; Meru, LLC as financial advisor; and Stretto, Inc. as claims and noticing agent. BESTMANN LLC: Seeks Subchapter V Bankruptcy in Georgia ------------------------------------------------------ On May 21, 2025, Bestmann LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Georgia. According to court filing, the Debtor reports up to $50,000 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Bestmann LLC Bestmann LLC is a small transportation services company based in Covington, Georgia. Bestmann LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-55633) on May 21, 2025. In its petition, the Debtor reports estimated assets and liabilities up to $50,000 each. Honorable Bankruptcy Judge Paul Baisier handles the case. BISHOP OF OAKLAND: Seeks to Hire Jonathan Lipson as Consultant -------------------------------------------------------------- The Roman Catholic Bishop of Oakland seeks approval from the U.S. Bankruptcy Court for the Northern District of California to employ Jonathan C. Lipson, a professor in Philadelphia, Pennsylvania, as consultant and expert witness. The consultant will render these services: (a) provide rebuttal expert witness services in response to any arguments asserted by the Debtor that a religious non-profit debtor may be exempted from the application of certain Bankruptcy Code provisions; (b) review and evaluate any relevant reports prepared by or on behalf of the Debtor, its professionals or any other entities; (c) prepare and draft rebuttal expert reports and/or affidavits/declarations concerning the issues for which Professor Lipson is being engaged; (d) prepare for and provide both deposition and court testimony regarding the issues for which Professor Lipson is being engaged and in response to any relevant arguments advanced by the Debtor; (e) assist the committee in drafting pleadings concerning the issues for which Professor Lipson is being engaged; and (f) any other services that the firm deems necessary related to the application of certain Bankruptcy Code provisions and religious freedom. Mr. Lipson will be paid in both bankruptcy and non-bankruptcy matters, to both debtor and non-debtor clients, is $1,900 per hour plus out-of-pocket expenses incurred. Mr. Lipson 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 consultant can be reached at: Jonathan C. Lipson 1719 North Broad Street Philadelphia, PA 19122 Email: jlipson@temple.edu About The Roman Catholic Bishop of Oakland The Roman Catholic Bishop of Oakland, a tax-exempt religious organization, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 23-40523) on May 8, 2023. In the petition signed by Bishop Michael Charles Barber, the Debtor disclosed $100 million to $500 million in both assets and liabilities. Judge William J. Lafferty oversees the case. The Debtor tapped Foley & Lardner LLP as legal counsel and Alvarez & Marsal North America, LLC as restructuring advisor. Kurtzman Carson Consultants LLC is the Debtors' claims and noticing agent and administrative advisor. The U.S. Trustee for Region 17 appointed an official committee to represent unsecured creditors in the Debtor's Chapter 11 case. The committee tapped Lowenstein Sandler, LLP as bankruptcy counsel; Burns Bair LLP as special insurance counsel; and Berkeley Research Group, LLC as financial advisor. BLABLMBTQ LLC: Seeks to Hire Barron & Newburger as Legal Counsel ---------------------------------------------------------------- BLABLMBTQ, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to employ Barron & Newburger, PC as counsel. The firm will render these services: (a) advise the Debtor of its rights, powers, and duties in the continued management of its assets; (b) review the nature and validity of claims asserted against the property of the Debtor and advise it concerning the enforceability of such claims; (c) prepare on behalf of the Debtor, all necessary and appropriate legal documents and review all financial and other reports to be filed in the Chapter 11 case; (d) advise the Debtor concerning and prepare responses to, applications, motions, complaints, pleadings, notices, and other papers which may be filed in the Chapter 11 case; (e) counsel the Debtor in connection with the formulation, negotiation, and promulgation of a plan of reorganization and related documents; (f) perform all other legal services for and on behalf of the Debtor which may be necessary and appropriate in the administration of the Chapter 11 case and its business; and (g) work with professionals retained by other parties in interest in this case to attempt to obtain approval of a consensual plan of reorganization for the Debtor. The firm's counsel and staff will be paid at these hourly rates: Stephen Sather, Attorney $650 Senior Attorneys $400 - $650 Junior Attorneys $250 - $450 Legal Assistants $40 - $100 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer in the amount of $15,000 from the Debtor. Mr. Sather 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: Stephen Sather, Esq. Barron & Newburger, PC 7320 N. MoPac Expwy., Suite 400 Austin, TX 78731 Telephone: (512) 476-9103 About BLABLMBTQ LLC BLABLMBTQ, LLC, doing business as Bella and Bloom Boutique, is an online and physical retail company that offers women's apparel and fashion accessories. It operates through its e-commerce platform and a storefront in Texas. BLABLMBTQ filed Chapter 11 petition (Bankr. W.D. Tex. Case No. 25-10545) on April 18, 2025, listing between $1 million and $10 million in both assets and liabilities. Katlyn Maupin, owner and managing member, signed the petition. Judge Christopher G. Bradley oversees the case. Stephen Sather, Esq., at Barron & Newburger, P.C. serves as the Debtor's counsel. BLACK ANGUS: PhenixFIN Marks $1-Mil. Secured Loan at 59% Off ------------------------------------------------------------ PhenixFIN Corporation has marked its $1,085,396 loan extended to Black Angus Steakhouses, LLC to market at $448,919 or 41% of the outstanding amount, according to PhenixFIN's Form 10-Q for the fiscal year ended March 31, 2025, filed with the U.S. Securities and Exchange Commission. PhenixFIN is a participant in a Senior Secured First Lien Delayed Draw Term Loan to Black Angus Steakhouses, LLC. The loan accrues interest at a rate of SOFR + CSA + 9.00% PIK, 1.00% Floor per annum. The loan matures on January 31, 2025. PhenixFIN is an internally-managed non-diversified closed-end management investment company incorporated in Delaware that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. Until close of business on December 31, 2020, PhenixFIN was externally managed and advised by MCC Advisors LLC, a wholly owned subsidiary of Medley LLC, which is controlled by Medley Management Inc. (NYSE: MDLY), a publicly traded asset management firm, which in turn is controlled by Medley Group LLC, an entity wholly owned by the senior professionals of Medley LLC. Since January 1, 2021 the Company has been managed pursuant to an internalized management structure. PhenixFIN is led by David Lorber as Chief Executive Officer, and Ellida McMillan as Chief Financial Officer. The Fund can be reach through: David Lorber Phenixfin Corporation 445 Park Avenue, 10th Floor New York, NY 10022 Telephone: (212) 859-0390 About Black Angus Steakhouses, LLC Black Angus Steakhouses, LLC, founded in 1964 and headquartered in Los Altos, CA, operates restaurants across six states including California, Arizona, Alaska, New Mexico, Washington, and Hawaii. BLACK ANGUS: PhenixFIN Marks $2.3 Million Secured Loan at 59% Off ----------------------------------------------------------------- Phenixfin Corporation has marked its $2,380,823 loan extended to Black Angus Steakhouses, LLC to market at $984,706 or 41% of the outstanding amount, according to PhenixFIN's Form 10-Q for the fiscal year ended March 31, 2025, filed with the U.S. Securities and Exchange Commission. PhenixFIN is a participant in a Senior Secured First Lien Super Priority Delayed Draw Term Loan to Black Angus Steakhouses, LLC. The loan accrues interest at a rate of SOFR + CSA + 9.00% PIK, 1.00% Floor per annum. The loan matures on January 31, 2025. PhenixFIN is an internally-managed non-diversified closed-end management investment company incorporated in Delaware that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. Until close of business on December 31, 2020, PhenixFIN was externally managed and advised by MCC Advisors LLC, a wholly owned subsidiary of Medley LLC, which is controlled by Medley Management Inc. (NYSE: MDLY), a publicly traded asset management firm, which in turn is controlled by Medley Group LLC, an entity wholly owned by the senior professionals of Medley LLC. Since January 1, 2021 the Company has been managed pursuant to an internalized management structure. PhenixFIN is led by David Lorber as Chief Executive Officer, and Ellida McMillan as Chief Financial Officer. The Fund can be reach through: David Lorber Phenixfin Corporation 445 Park Avenue, 10th Floor New York, NY 10022 Telephone: (212) 859-0390 About Black Angus Steakhouses, LLC Black Angus Steakhouses, LLC, founded in 1964 and headquartered in Los Altos, CA, operates restaurants across six states including California, Arizona, Alaska, New Mexico, Washington, and Hawaii. BLUM HOLDINGS: To Acquire Cookies Stakeholder in $562,500 Deal -------------------------------------------------------------- Blum Holdings, a California-based cannabis operator, has signed a binding term sheet to acquire full ownership of a holding company (the "Target") with a non-controlling stake in Cookies Creative Consulting & Promotions. The move is part of Blum's broader effort to expand its exposure to premier cannabis brands. Blum Holdings plans to acquire the Target via its newly established subsidiary, Blum Acquisition Co., under a deal valued at approximately $562,500. The consideration includes 489,131 shares of Blum's common stock and a warrant to purchase up to 30,762 additional shares at an exercise price of $0.64 each. The share and warrant consideration will be subject to customary adjustments to reflect the verified ownership percentage of Cookies held by the seller. "This is a meaningful step in Blum's long-term strategy to increase our economic exposure to the biggest brands in Cannabis through key strategic relationships," said Sabas Carrillo, CEO of Blum Holdings, Inc. "These recent transactions provide exposure to equity value not yet fully visible in Blum's public float, including our retail dispensary roll-up portfolio, our Cookies-branded flagship store, and Cookies interests from MTVII and Mesh Ventures. Together, these transactions position Blum to unlock institutional-quality optionality and enhance alignment with Cookies, one of the industry's most recognized brands." The transaction is expected to close upon the completion of definitive agreements and customary closing conditions. Closing is currently targeted for the third quarter of 2025. The Company said there are no guarantees that definitive agreements will be successfully negotiated, executed, or finalized, nor that the required regulatory approvals will be secured. About Blum Holdings Blum Holdings -- https://blumholdings.com -- operates in the cannabis industry through its subsidiaries, managing dispensaries across California and owning several notable brands such as Korova, which offers high-potency products including the 1000 mg THC Black Bar. The Company functions as both a holding entity and marketing platform, aiming to expand its customer base and retail investor presence while enhancing brand recognition and portfolio value. In an auditor report dated March 13, 2025, GuzmanGray issued a "going concern" qualification citing that the Company has a significant working capital deficiency 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. "We have not been able to generate sufficient cash from operating activities to fund our ongoing operations," the Company revealed in its Quarterly Report for the period ended March 31, 2025. "Since our inception, we have raised capital through private sales of Common Stock, preferred stock, and debt securities. Our future success is dependent upon our ability to achieve profitable operations and generate cash from operating activities. There is no guarantee that we will be able to generate enough revenue and/or raise capital to support our operations. We will be required to raise additional funds through public or private financing, additional collaborative relationships or other arrangements until we are able to raise revenues to a point of positive cash flow. We continue to evaluate various options to further reduce our cash requirements to operate at a reduced rate, as well as options to raise additional funds, including obtaining loans and selling Common Stock. There is no guarantee that we will be able to generate enough revenue and/or raise capital to support our operations, or if we are able to raise capital, that such capital will be available to us on acceptable terms, on an acceptable schedule, or at all." BROADWAY REALTY: Seeks Chapter 11 After Bank Foreclosure -------------------------------------------------------- Jonathan Randles and Jill R. Shah of Bloomberg News reports that Joel Wiener, a major landlord in New York City, has placed properties containing thousands of residential units into bankruptcy, months after facing foreclosure efforts by a bank. On Wednesday, May 21, 2025, several property holding entities connected to Wiener's Pinnacle Group filed for Chapter 11 bankruptcy protection in New York. Each filing, signed by Wiener in his role as Pinnacle's CEO, reported assets and liabilities ranging from $500 million to $1 billion. The Chapter 11 filing is part of a coordinated restructuring strategy involving more than 70 affiliated real estate entities that have simultaneously filed for bankruptcy protection. All cases will be jointly administered under Broadway Realty's case number. The company has indicated that funds will be available for distribution to unsecured creditors after administrative expenses. The bankruptcy filings follow foreclosure proceedings initiated by Flagstar Bank in state court earlier this 2025. About Broadway Realty I Co. LLC Broadway Realty I Co., LLC is a real estate investment business and management company headquartered in New York City. The company operates from its principal location at 2 Grand Central Tower in Manhattan, with its main asset property at 4530 Broadway in New York. The company specializes in real estate investment and property management activities across the New York metropolitan area. Broadway Realty I Co. LLC and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-11050) on May 21,2025. In its petition, the Debtor reports estimated assets and liabilities between $500 million and $1 billion each. Honorable Bankruptcy Judge David S. Jones, Esq. handles the case. The Debtor is represented by Gary Holtzer, Esq. at Weil Gotshal & Manges LLP. BROKEN VESSEL: Creditor SouthPoint Bank Files Liquidating Plan -------------------------------------------------------------- Secured creditor SouthPoint Bank filed with the U.S. Bankruptcy Court for the District of Alabama an Amended Disclosure Statement accompanying Amended Plan of Liquidation for Broken Vessel United Missionary, Full Gospel Baptist Church, Inc. dated May 6, 2025. The Debtor is a non-profit corporation with a church ministry, childcare facility and half-way restoration facilities. According to the Debtor's Schedules filed in this case, as of the Petition Date the Debtor owned eight parcels of property and multiple automobiles. The real property are locations for the Debtor's non-profit business endeavors. In the months prior to filing this bankruptcy, the Debtor was subject to lawsuits and threatened or pending foreclosure actions from various secured creditors. The Debtor ceased making payments to most of its secured creditors during the Summer of 2024. The Debtor and those secured creditors were unable to resolve these disputes, which led to some of the creditors initiating litigation against the Debtor's principal, Donald Mouton. The bankruptcy was filed days before those foreclosure sales in an apparent attempt to avoid the sale of the Debtor's real estate. The Debtor has made little or no progress during its pending Chapter 11 case. It has sold no real property and has earned little or no proceeds to fund its operations. While the Debtor's monthly operating reports lack the necessary information, it appears that the Debtor's continued operations are funded by cash infusions from the Debtor's parishioners' tithes and offerings. During the pendency of the bankruptcy, the Debtor has provided little, if any, adequate protection or debt service payments to the Debtor's creditors. Class 10 shall consist of all Allowed Priority Unsecured Claims. These Allowed Claims will be paid in full upon the sale of the Property. No interest will accrue on these Allowed Claims. Class 11 shall consist of all Allowed General Unsecured Claims that are not otherwise included in another Class herein, which shall be Allowed Claims in the amounts set forth in the Trustee's Disclosure Statement, unless reduced by Court order. These allowed Claims shall be paid pro rata with other Allowed Claims in this Class upon the sale of the Property and/or upon resolution by the Liquidating Trustee of the Litigation Claims. The distributions on account of Class 6 Claims is dependent upon the net proceeds produced by the sale of Property, the resolution of the Litigation Claims, and the amount of administrative expenses incurred by the estate through the Effective Date. No interest will accrue on these Allowed Claims. Class 11 is impaired. Class 12 consists of the Interests of the Debtor. The Debtor's principal, believed to be Donald Moultan, will retain ownership interests in the Debtor upon the Effective Date, subject to the terms of this Plan and to the continuing authority of the Trustee until this case is closed. The Effective Date of the Plan is defined under the Plan to be the later of (i) the first business day of the first full month following the Confirmation, or (ii) the first business day after an appeal of an order confirming this Plan has become final and unappealable; provided, the Trustee may at any time designate an earlier Effective Date of the Plan by filing written notice thereof with the Court and serving such notice on all creditors and parties in interest. The Plan will be funded by the following: * The Liquidating Trustee will continue funding the Plan through the Debtor's cash flow and the Debtor's accrued cash until sufficient capital has been raised to pay all claims in full; * The Liquidating Trustee will market and sell Property in a commercially reasonable time and manner, by means to be determined by the Liquidating Trustee. The Liquidating Trustee will determine the order and timing of sale of the Property and/or whether it is more beneficial to the estate to grant stay relief to a secured creditor or execute a deed in lieu of foreclosure with a creditor. If and when sufficient funds to satisfy all Allowed Claims have been generated by the sale of Property, the Liquidating Trustee will cease selling unliquidated Property. The Liquidating Trustee shall return the balance of all other Property (including unliquidated personal property and real property) to the Debtor's principal, Donald Moulton, as the holder of the only Class 12 Claim. * The Liquidating Trustee shall evaluate the Litigation Claims and pursue recovery of same in accordance with his business judgment. The Liquidating Trustee may consensually resolve any Litigation Claim with Court approval and compliance with Rule 9019 of the Federal Rules of Bankruptcy Procedure. To pursue the Litigation Claims, the Liquidating Trustee, with Court approval, may engage counsel and/or experts. Until the Case is closed, the Liquidating Trustee, on behalf of the Debtor, will continue to remain in possession of all Property pursuant to Section 1108 of the Bankruptcy Code and shall continue to pay Bankruptcy Administrator fees as required. As of the Effective Date of the Plan and except as otherwise provided herein, all Property of the Debtor will be transferred to the Liquidating Trustee, pursuant to the terms of the Plan. A full-text copy of the Amended Disclosure Statement dated May 6, 2025 is available at https://urlcurt.com/u?l=oXLssA from PacerMonitor.com at no charge. Counsel for Southpoint Bank: Brian R. Walding, Esq. Walding LLC 2227 First Avenue South, Ste. 100 Birmingham, Alabama 35233 Email: bwalding@waldinglaw.com About Broken Vessel United Missionary Full Gospel Baptist Church Broken Vessel United Missionary, Full Gospel Baptist Church, Inc. is a community focused religious organization that offers worship services, prayer meetings, and outreach programs. Broken Vessel United Missionary, Full Gospel Baptist Church sought Chapter 11 bankruptcy protection (Bankr. N.D. Ala. Case No. 24-02611) on Aug. 28, 2024. In the petition signed by Donald Moulton, president, the Debtor disclosed $1 million to $10 million in both assets and liabilities. Judge Tamara O. Mitchell oversees the case. Frederick M. Garfield, Esq., serves as the Debtor's counsel. BROOKDALE SENIOR: Antipodes Partners Holds 6.84% Equity Stake ------------------------------------------------------------- Antipodes Partners Ltd, disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of March 31, 2025, it beneficially owned 13,684,500 shares of Brookdale Senior Living Inc.'s common stock, representing 6.84% of the shares outstanding. Antipodes Partners Ltd may be reached through: Andrew Findlay, Managing Director Level 25, Australia Square Tower 264 George Street, Sydney, Australia, NSW 2000. Tel: 612 8970 7705 A full-text copy of Antipodes Partners' SEC report is available at: https://tinyurl.com/3exumxtr About Brookdale Senior Living Headquartered in Brentwood, Tenn., Brookdale Senior Living Inc. operates senior living facilities in the United States. * * * Egan-Jones Ratings Company on January 14, 2025, maintained its 'CC' foreign currency and local currency senior unsecured ratings on debt issued by Brookdale Senior Living Inc. BTR OPCO: Monroe Capital Marks $569,000 Secured Loan at 20% Off --------------------------------------------------------------- Monroe Capital Corporation has marked its $569,000 loan extended to BTR Opco LLC to market at $454,000 or 80% of the outstanding amount, according to Monroe's Form 10-Q for the fiscal year ended March 31, 2025, filed with the U.S. Securities and Exchange Commission. Monroe is a participant in a Senior Secured Loan to BTR Opco LLC. The loan accrues interest at a rate of 13.06% PIK per annum. The loan matures on December 31, 2027. Monroe Capital Corporation is an externally managed, non-diversified, closed-end management investment company and has elected to be regulated as a business development company (BDC) under the Investment Company Act of 1940. The Company's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through investment in senior secured, junior secured and unitranche secured debt and, to a lesser extent, unsecured subordinated debt and equity co-investments in preferred and common stock and warrants. Monroe is managed by Monroe Capital BDC Advisors, LLC, a registered investment adviser under the Investment Advisers Act of 1940, as amended. Monroe is led by Theodore L. Koenig as Chairman, Chief Executive Officer and Director, and Lewis W. Solimene, Jr. as Chief Financial Officer and Chief Investment Officer. The Company can be reach through: Theodore L. Koenig Monroe Capital Corporation 311 South Wacker Drive, Suite 6400 Chicago, IL 60606 Telephone: (312) 258-8300 About BTR Opco LLC BTR Opco LLC is engaged in trading and distribution of automobiles and automobile parts and accessories. BUTLER TRUCKING: Gets Extension to Access Cash Collateral --------------------------------------------------------- Butler Trucking, LLC received another extension from the U.S. Bankruptcy Court for the Northern District of Ohio to use cash collateral. The fourth interim order penned by Judge John Gustafson authorized the company's continued use of its secured creditors' cash collateral for business operations in accordance with its budget. The secured creditors are Fundation Group, LLC, JasperCap, CashFloit, LLC, United First, LLC, Asset Funding Source, LLC and the U.S. Small Business Administration. As protection for the use of their cash collateral, the secured creditors will be granted replacement liens on the company's property, to the same extent and with the same priority as their pre-bankruptcy liens. As further protection, SBA will receive monthly payments of $731 while the other creditors will not receive any payments. Butler's authority to use the cash collateral terminates if any of the following events occurs: (i) the confirmation of a Chapter 11 plan; (ii) conversion or dismissal of its Chapter 11 case; (iii) unauthorized use of the cash collateral; (iv) the company ceasing operation of its business; (v) termination of the order; (vi) entry of an order granting to SBA or Channel relief from the automatic stay; or (vii) the time set by the court for a further hearing. The next hearing is scheduled for June 17. About Butler Trucking LLC Butler Trucking LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ohio Case No. 24-32443-jpg) on December 17, 2024. In the petition signed by Justin Butler, managing member, the Debtor disclosed up to $100,000 in assets and up to $1 million in liabilities. John P Gustafson oversees the case. The Debtor is represented by Eric R. Neuman, Esq. CAMBER ENERGY: 2024 Net Loss Widens to $70M; Revenue Down 9% ------------------------------------------------------------ Camber Energy, Inc. filed with the U.S. Securities and Exchange Commission its Annual Report on Form 10-K for the fiscal year ended December 31, 2024. The Company's consolidated financial statements included therein have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company generated a net loss of $70,259,894 for the year ended December 31, 2024, as compared to a net loss of $18,535,067 for the year ended December 31, 2023. The loss for the year ended December 31, 2024, was comprised of, among other things, certain non-cash items, including: (i) goodwill impairment of $34,860,411; (ii) change in fair value of derivative liability of $18,306,398; (iii) amortization of debt discount of $3,349,404; (iv) impairment of intangible assets of $2,248,940; (v) loss on extinguishment of debt of $811,132, and; (vi) depreciation, depletion and amortization of $779,632. The Company had gross revenues of $28,610,567 for the year ended December 31, 2024 as compared to $32,054,323 for the year ended December 31, 2023, a decrease of 9%. As of December 31, 2024, the Company had stockholders' deficit of $37,819,657, long-term debt, net of current, of $40,483,795 and a working capital deficiency of $17,655,810. The largest components of current liabilities creating this working capital deficiency was accrued interest on note payable to Discover of $6,578,169, drawings by Simson-Maxwell against its bank credit facility of $3,937,008, an advance from FK Venture, LLC of $1,200,000 and amounts due to AGD Advisory Group, Inc., a related party, of $960,000. Dallas, Texas-based Turner, Stone & Company, L.L.P, the Company's auditor since 2016, issued a "going concern" qualification in its report dated May 12, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company has suffered recurring losses from operations and has a net capital deficiency that raise substantial doubt about its ability to continue as a going concern. The Company's ability to continue as a going concern is dependent upon its ability to utilize the resources in place to generate future profitable operations, to develop additional acquisition opportunities, and to obtain the necessary financing to meet its obligations and repay its liabilities arising from business operations when they come due. Management believes the Company may be able to continue to develop new opportunities and may be able to obtain additional funds through debt and / or equity financings to facilitate its business strategy; however, there is no assurance of additional funding being available. A full-text copy of the Company's Form 10-K is available at: https://tinyurl.com/j4rmbrmv About Camber Energy Based in Houston, Texas, Camber Energy, Inc. -- http://www.camber.energy-- is a growth-oriented diversified energy company. Through its majority-owned subsidiaries, the Company provides custom energy and power solutions to commercial and industrial clients in North America and has a majority interest in: (i) an entity with intellectual property rights to a fully developed, patented, proprietary Medical and Bio-Hazard Waste Treatment system using Ozone Technology; and (ii) entities with the intellectual property rights to fully developed, patented, and patent-pending proprietary Electric Transmission and Distribution Open Conductor Detection Systems. Additionally, the Company holds a license to a patented clean energy and carbon-capture system with exclusivity in Canada and for multiple locations in the United States. Various of the Company's other subsidiaries own interests in oil properties in the United States. The Company is also exploring other renewable energy-related opportunities and/or technologies, which are currently generating revenue or have a reasonable prospect of generating revenue within a reasonable period of time. As of Dec. 31, 2024, the Company had $42,320,043 in total assets, $80,135,700 in total liabilities, and a total stockholders' deficit of $37,819,657. CAPITAL SECURITY: Lisa Holder Named Subchapter V Trustee -------------------------------------------------------- The U.S. Trustee for Region 17 appointed Lisa Holder, Esq., a practicing attorney in Bakersfield, Calif., as Subchapter V trustee for Capital Security Solutions, Inc. Ms. Holder will be paid an hourly fee of $300 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Holder declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Lisa Holder, Esq. 3710 Earnhardt Drive Bakersfield, CA 93306 Phone: (661) 205-2385 Email: lholder@lnhpc.com About Capital Security Solutions Capital Security Solutions, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code Bankr. E.D. Calif. Case No. 25-22169) on May 1, 2025, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Christopher M. Klein presides over the case. David C. Johnston, Esq. represents the Debtor as legal counsel. CARBON SEQUESTRATION: Seeks Chapter 11 Bankruptcy in Delaware ------------------------------------------------------------- On May 22, 2025, Carbon Sequestration III LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware. According to court filing, the Debtor reports between $100 million and $500 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Carbon Sequestration III LLC Carbon Sequestration III LLC s an asset-holding subsidiary of CTN Holdings, Inc., a climate finance company operating under the Catona Climate brand. Based in San Francisco, the entity primarily serves as a contracting party for its parent and has no independent financial operations. Carbon Sequestration III LLCsought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10918) on May 5, 2025. 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 Thomas M. Horan handles the case. The Debtors are represented by Bradley P. Lehman, Esq. at WHITEFORD, TAYLOR & PRESTON LLC. CBDMD INC: Clark Crosnoe Discloses 11.1% Stake as of May 6 ---------------------------------------------------------- Clark R. Crosnoe, CRC Investment Fund LP, NM 2018 Trust, and AMC Legacy Trust disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of May 6, 2025, he beneficially owned 986,851 common shares of cbdMD, Inc., representing 11.1% of the 8,907,854 common shares outstanding. The reported beneficial ownership includes: * 823,125 shares held by CRC Investment Fund LP, * 126,750 shares held by NM 2018 Trust dated April 4, 2018, and * 36,976 shares held by AMC Legacy Trust dated December 21, 2012. Mr. Crosnoe is the sole member of CRC Investment Fund GP, LLC, the general partner of CRC LP, and has investment authority over the shares held by the trusts and the partnership. He disclaims beneficial ownership except to the extent of his pecuniary interest therein. Clark R. Crosnoe may be reached at: 13850 Manchester Rd C/O 1847 Goedeker Inc. Ballwin Mo 63011 A full-text copy of Mr. Crosnoe's SEC report is available at: https://tinyurl.com/ye22cz6z About cbdMD, Inc. Headquartered in Charlotte, NC, cbdMD, Inc. -- www.cbdmd.com -- owns and operates the nationally recognized CBD (cannabidiol) brands cbdMD, Paw CBD, and cbdMD Botanicals. Its mission is to enhance its customers' overall quality of life while bringing CBD education, awareness, and accessibility of high-quality and effective products to all. The Company sources cannabinoids, including CBD, which are extracted from non-GMO hemp grown on farms in the United States. Charlotte, North Carolina-based Cherry Bekaert LLP, the Company's auditor since 2016, issued a "going concern" qualification in its report dated Dec. 18, 2024, citing that the Company has historically incurred losses, including a net loss of approximately $3.7 million in the current year, resulting in an accumulated deficit of approximately $182 million as of September 30, 2024. These conditions raise substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2024, cbdMD had $11,542,977 in total assets, $9,761,386 in total liabilities, and $1,781,591 in total shareholders' equity. CBRM REALTY: Faegre Drinker Represents Crown Capital Noteholders ---------------------------------------------------------------- The law firm of Faegre Drinker Biddle & Reath LLP filed a verified statement pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure to disclose that in the Chapter 11 cases of CBRM Realty Inc. and affiliates. The Ad Hoc Group of Holders of Crown Capital Notes was formed by certain unaffiliated beneficial holders of the Debtors' senior unsecured notes: (a) 8.00% Senior Unsecured Notes due 2025, (b) 12.50% Social Senior Unsecured Notes due 2025, and (c) 6.75% Senior Unsecured Notes due 2027 ("Notes"). Beginning on or about March 25, 2024, the Ad Hoc Group of Holders of Crown Capital Notes retained Faegre Drinker to represent them in connection with a potential restructuring of the Debtor's obligations. The Ad Hoc Group of Holders of Crown Capital Notes holds disclosable economic interests or acts as investment managers or advisors to funds and/or accounts that hold disclosable economic interest in relation to certain of the Debtors. Counsel represents only the Ad Hoc Group of Holders of Crown Capital Notes and does not represent or purport to represent any entity or entities other than the Ad Hoc Group of Holders of Crown Capital Notes in connection with the Debtors' Chapter 11 Case. The Ad Hoc Group Members' address and the nature and amount of disclosable economic interests held in relation to the Debtors are: 1. Edward S. Stein 8468 Abbington Circle, #2122, Naples, FL 34108 * 12.5% 2025 Notes: $300,000 2. Jacques de Saint Phalle 13647 Deering Bay Drive Coral Gables, FL, 33158 * 12.5% 2025 Notes: $1,000,000 3. First Dakota National Bank 225 Cedar St., Yankton, SD 57078 * 12.5% 2025 Notes: $1,000,000 * 6.75% 2027 Notes: $2,000,000 4. Adams Bank & Trust 315 North Spruce, Box 720, Ogallala, NE 69153 * 6.75% 2027 Notes: $7,000,000 * 8% 2025 Notes: $3,000,000 * 12.5% 2025 Notes: $2,000,000 5. LL Mortgage Fund, L.P. 2400 Market Street, Suite 302, Philadelphia, PA 19103 * 12.5% 2025 Notes: $2,000,000 * 6.75% 2027 Notes: $2,750,000 6. The Ohio State Life Insurance Company 300 Crescent Court, Suite 700, Dallas, TX 75201 * 12.5% 2025 Notes: $2,000,000 7. Citizens State Bank 32500 Woodward Avenue, Royal Oak, MI 48073 * 12.5% 2025 Notes: $1,000,000 * 6.75% 2027 Notes: $1,500,000 8. Cattaraugus County Bank 120 Main Street, Little Valley, NY 14755 * 6.75% 2027 Notes: $500,000 * 8% 2025 Notes: $1,000,000 9. Catholic Holy Family Society 2021 Mascoutah Ave. (physical), Belleville, IL 62220 PO Box 327 Belleville, IL 62222 * 6.75% 2027 Notes: $500,000 10. First Catholic Slovak Union 6611 Rockside Road, Suite 300, Independence, OH 44131 * 6.75% 2027 Notes: $2,000,000 11. Luso-American Financial, A Fraternal Benefit 7080 Donlon Way, Suite 200 (NPA reads “Donion”) Dublin, CA 94568 * 6.75% 2027 Notes: $500,000 12. National Slovak Society of the USA 1301 Ashwood Drive, Canonsburg, PA 15317 * 6.75% 2027 Notes: $5,000,000 13. Polish Roman Catholic Union of America 984 N. Milwaukee, Chicago, IL 60642 * 6.75% 2027 Notes: $1,000,000 14. SPJST 520 North Main Street, Temple, TX 76503 * 6.75% 2027 Notes: $1,000,000 15. Ukrainian National Association 2200 Route 10, PO Box 280, Suite 201, Parsippany, NJ 07054-0780 * 6.75% 2027 Notes: $1,000,000 16. Western Catholic Union 510 Maine St, Quincy, IL 62301 * 6.75% 2027 Notes: $1,000,000 17. Gulf Coast Bank & Trust 200 St Charles Avenue, 3rd floor, New Orleans, La 70130 * 6.75% 2027 Notes: $2,000,000 18. Bar Harbor Bank and Trust 82 Main Street PO Box 400 Bar Harbor, ME 04609 * 6.75% 2027 Notes: $8,000,000 * 12.5% 2025 Notes: $1,000,000 19. Strada Philanthropy, Inc. 10 W Market Street, Suite 1100, Indianapolis, IN, 46204, USA * 6.75% 2027 Notes: $1,500,000 20. AmeriServ Financial Bank 216 Franklin Street, Johnstown, PA 15901 * 6.75% 2027 Notes: $1,000,000 21. Royal Bridge Master Fund LP c/o Royal Bridge Capital LP 110 Somerville Ave, Suite 266, Chattanooga, TN 37405 * 12.5% 2025 Notes: $250,000 22. Concert Insurance Company 21805 Field Parkway, Suite 320, Deer Park, IL 60010 * 12.5% 2025 Notes: $200,000 23. Concert Specialty Insurance Company 21805 Field Parkway, Suite 320, Deer Park, IL 60010 * 12.5% 2025 Notes: $200,000 24. Concert Group Holding, Inc. 21805 Field Parkway, Suite 320, Deer Park, IL 60010 * 12.5% 2025 Notes: $200,000 25. Evergreen National Indemnity Company 6150 Oak Tree Blvd., Suite 440, Independence, Ohio 44131 * 12.5% 2025 Notes: $300,000 26. Gramercy Risk Management, LLC 333 Earle Ovington Blvd., Suite 502, Uniondale, NY 11553 * 12.5% 2025 Notes: $100,000 27. Stillwater Insurance Company 6800 Southpoint Pkwy., Suite 700, Jacksonville, FL 32216 * 12.5% 2025 Notes: $1,500,000 28. Stillwater Property and Casualty Insurance Company 6800 Southpoint Pkwy., Suite 700, Jacksonville, FL 32216 * 12.5% 2025 Notes: $500,000 29. First Missouri Bancshares, Inc. P.O. Box 190, Brookfield, MO 64628 * 12.5% 2025 Notes: $500,000 30. ProAssurance Indemnity Company, Inc. 100 Brookwood Place, Birmingham, AL 35209 * 12.5% 2025 Notes: $750,000 31. Norcal Insurance Company 100 Brookwood Place, Birmingham, AL 35209 * 6.75% 2027 Notes: $1,250,000 * 8% 2025 Notes: $1,000,000 * 12.5% 2025 Notes: $750,000 32. Customers Bank 40 General Warren Blvd Suite 200, Malvern, PA 19355 * 6.75% 2027 Notes: $17,500,000 * 8% 2025 Notes: $4,000,000 * 12.5% 2025 Notes: $20,000,000 33. Hood Family Trust 900 Crestview Lane, Owatonna, MN 55060 * 12.5% 2025 Notes: $75,000 34. Thompson Bond Fund PO Box 46520 Madison, WI 53744-6520 * 12.5% 2025 Notes: $7,000,000 35. CFBank, N.A. 4960 E. Dublin-Granville Road, Suite 400, Columbus, Ohio 43081 * 8% 2025 Notes: $3,000,000 * 12.5% 2025 Notes: $4,000,000 36. Cincinnati Insurance Company 6200 South Gilmore Road, Fairfield, Ohio 45014 * 6.75% 2027 Notes: $11,000,000 * 8% 2025 Notes: $4,000,000 * 12.5% 2025 Notes: $5,000,000 37. Cincinnati Life Insurance Company 6200 South Gilmore Road, Fairfield, Ohio 45014 * 6.75% 2027 Notes: $4,000,000 * 8% 2025 Notes: $3,000,000 * 12.5% 2025 Notes: $2,000,000 38. National Security Insurance Company 331 E Davis St Elba, AL 36323 * 12.5% 2025 Notes: $500,000 39. NexBank 2515 McKinney Ave, Suite 1100, Dallas, TX 75201 * 12.5% 2025 Notes: $5,000,000 40. Great American Insurance Company 301 E. Fourth St. – 38th Floor, Cincinnati, OH 45202, Attn: Matthew Hill * 8% 2025 Notes: $2,500,000 41. Federated Life Insurance Company 121 East Park Square Owatonna, MN 55060 * 6.75% 2027 Notes: $7,000,000 * 8% 2025 Notes: $4,000,000 * 12.5% 2025 Notes: $3,000,000 42. Federated Mutual Insurance Company 121 East Park Square Owatonna, MN 55060 * 6.75% 2027 Notes: $7,000,000 * 8% 2025 Notes: $4,000,000 * 12.5% 2025 Notes: $5,000,000 43. Federated Reserve Insurance Company 121 East Park Square Owatonna, MN 55060 * 12.5% 2025 Notes: $500,000 44. Federated Service Insurance Company 121 East Park Square, Owatonna, MN 55060 * 12.5% 2025 Notes: $1,000,000 45. Granite Re Inc. 121 East Park Square, Owatonna, MN 55060 * 12.5% 2025 Notes: $500,000 46. Sagicor Reinsurance Bermuda Suite 301, Canon's Court | 22 Victoria Street, Hamilton | HM 12 Bermuda * 6.75% 2027 Notes: $14,000,000 * 8% 2025 Notes: $1,500,000 47. Andrew D. Baker 142 Long Lots Road, New Canaan, CT 06840 * 12.5% 2025 Notes: $50,000 48. John Beckelman 1251 Avenue of the Americas, 6th Fl., New York, NY 10020 * 12.5% 2025 Notes: $1,000,000 The law firm can be reached at: FAEGRE DRINKER BIDDLE & REATH LLP Michael P. Pompeo, Esq. 600 Campus Drive Florham Park, NJ 07932 Telephone: (973) 549-7000 Facsimile: (973) 360-9831 Email: michael.pompeo@faegredrinker.com James H. Millar, Esq. 1177 Avenue of the Americas, 41st Floor New York, NY 10036 Telephone: (212) 248-3264 Facsimile: (212) 248-3141 Email: james.millar@faegredrinker.com About CBRM Realty Inc. CBRM Realty Inc. is a Somerset, New Jersey-based real estate investment firm. CBRM Realty Inc. and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Lead Case No. 25-15343) on May 19, 2025. In its petition, the Debtor reports estimated assets and liabilities (on a consolidated basis) between $100 million to $500 million each. Honorable Bankruptcy Judge Michael B. Kaplan handles the case. The Debtors are represented by Andrew Zatz, Esq., Barrett Lingle, Esq., Gregory F. Pesce, Esq., and Adam Swingle, Esq. at WHITE & CASE LLP. The Debtors co-counsel is Kenneth A. Rosen, Esq. at KEN ROSEN ADVISORS PC. ISLANDDUNDON LLC is the Debtors' financial advisor. CCP MEZZANINE: Redwood To Hold Public Auction on May 27 ------------------------------------------------------- Redwood Commercial Mortgage Corporation ("secured party") will offer for sale at public auction all right, title, and interest of CCP Mezzanine Nashville I LLC in and to the following collateral: (i) 100% of the membership interests in CCP Property Owner Nashville I LLC, and (ii) all proceeds of the foregoing. The subject collateral is security for the Debtor's obligations under the mezzanine loan agreement dated as of July 20, 2015, among the Debtor and the Secured Party. The auction will take place on May 27, 2025, at 3:00 p.m. EDT via web-based video conferencing and/or telephonic conferencing program selected by the Secured Party, access to which will be made available to the qualified bidders, and in person, at the offices of Mannion Auctions LLC, 299 Broadway, Suite 1601, New York, New York 10007. All inquiries regarding the sale of the Debtor's collateral, contact Brock Cannon, brock.cannon@nmrk.com, 646-315-4785, and Kezia Belfield, kezia.belfield@nmrk.com, 214-647-7610. CLEAN ENERGY: Sells $131.6K Convertible Note to 1800 Diagonal ------------------------------------------------------------- Clean Energy Technologies, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company entered into a securities purchase agreement with 1800 Diagonal Lending LLC, a Virginia limited liability company, pursuant to which the Company sold, and 1800 Diagonal purchased, a convertible promissory note in the principal amount of $131,610 for a purchase price of $107,000. The Transaction was funded by 1800 Diagonal and closed on May 8, 2025, and on or about May 8, 2025, pursuant to the SPA, 1800 Diagonal's legal expenses of $2,500 were paid from the gross purchase price, $4,500 was retained by 1800 Diagonal as a due diligence fee, the Company received net funding of $100,000, and the Note was issued to 1800 Diagonal. The SPA includes customary representations, warranties and covenants by the Company and customary closing conditions. The SPA requires that the proceeds from the Transaction be used for general working capital purposes. The Note matures on February 15, 2026, accrues a one-time interest charge of 10% on the issuance date, shall be paid in 9 monthly payments in the amount of $16,085.67 beginning on June 15, 2025, and continuing on the 15th of each month thereafter, and is convertible following default into shares of the Company's common stock at the election of the holder at a conversion price equal to $1.00 (subject to adjustment as provided in the Note); provided, however, that the holder may not convert the Note: (i) to the extent that such conversion would result in the holder's beneficial ownership of the Company's common stock being in excess of 4.99% of the Company's issued and outstanding common stock, or (ii) when the shareholder approval required by Nasdaq Rule 5635(d) has not been obtained and conversion would result in more than 19.99% of the shares of Company common stock being issued after any required aggregation per Rule 5635(d). Additionally, the holder of the Note is entitled to deduct $1,500 from the conversion amount in each note conversion to cover the holder's fees associated with the conversion. Full text copies of the SPA and Note are filed as Exhibits 10.1 and 10.2, respectively, to the Current Report on Form 8-K available at https://tinyurl.com/45wt3zze About Clean Energy Headquartered in Irvine, California, Clean Energy Technologies, Inc. -- http://www.cetyinc.com-- develops renewable energy products and solutions and establishes partnerships in renewable energy that make environmental and economic sense. The Company's mission is to be a segment leader in the Zero Emission Revolution by offering eco-friendly energy solutions, clean energy fuels, and alternative electric power for small and mid-sized projects in North America, Europe, and Asia. The Company targets sustainable energy solutions that are profitable for it, profitable for its customers, and represent the future of global energy production. Diamond Bar, California-based TAAD, LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated April 14, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company has an accumulated deficit and negative cash flows from operations. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2024, the Company had $9,505,480 in total assets, $6,566,978 in total liabilities, and total stockholders' equity of $2,938,502. COMPANION CARE: Hires Demetrius J. Parrish Jr. as Legal Counsel --------------------------------------------------------------- Companion Care Partners, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Pennsylvania to employ Demetrius J. Parrish, Jr., Esq., an attorney practicing in Philadelphia, Pennsylvania as counsel. The attorney will provide these services: (a) provide legal advice with respect to the Debtor's power and duties in the continued operation of its business; (b) pursuit of confirmation of a plan of reorganization and approval of the corresponding solicitation procedures and disclosure statement; (c) prepare on behalf of the Debtor necessary legal papers; (d) appear in court and otherwise protect the interests of the Debtor before the court; and (e) perform all legal services for the Debtor which may be necessary and proper in these proceedings. The attorney will be billed at his hourly rate of $400. Mr. Parrish 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: Demetrius J. Parrish Jr., Esq. 7715 Crittenden Street, #360 Philadelphia, PA 19118 Telephone: (215) 735-3377 Facsimile: (215) 827-5420 Email: DJPESQ@gmail.com About Companion Care Partners Companion Care Partners, LLC filed Chapter 11 petition (Bankr. E.D. Pa. Case No. 25-11859) on May 9, 2025, listing under $1 million in both assets and liabilities. Demetrius J. Parrish Jr., Esq., is the Debtor's legal counsel. CONFLUX LLC: Section 341(a) Meeting of Creditors on June 23 ----------------------------------------------------------- On May 21, 2025, Conflux LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of New York. 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 not be available to unsecured creditors. A meeting of creditors filed by Office of the United States Trustee under Section 341(a) to be held on June 23, 2025 at 11:00 AM at Telephonic Meeting: Phone 1 (877) 953-2748, Participant Code 3415538#. About Conflux LLC Conflux LLC is a single-asset real estate entity, as defined in 11 U.S.C. Section 101(51B). Conflux LLCsought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. ) on May 21, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. The Debtors are represented by Joshua R. Bronstein, Esq. at JOSHUA R. BRONSTEIN & ASSOCIATES PLLC. CORBETT BUILDINGS: Seeks to Hire Alan L. Joseph as Special Counsel ------------------------------------------------------------------ Corbett Buildings and Holdings, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to employ The Law Offices Of Alan L. Joseph as special counsel. The Debtor needs a special counsel to represent it in the sale of its real property located at 54 Union Street, Montgomery, New York. The firm will render these services: (a) draft and negotiate the contract of sale; (b) represent during the signing of the contract; (c) represent during the due diligence period; (d) communicate with the attorney for the buyer, building agents, financial institutions, brokers and other relevant parties to the sale; and (e) represent at the actual closing. The firm will be paid at a flat fee of $2,000 plus out-of-pocket expenses. Alan Joseph, Esq., an attorney at the 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 through: Alan L. Joseph, Esq. The Law Offices of Alan L. Joseph 261 Greenwich Avenue Goshen, NY 10924 About Corbett Buildings and Holdings Corbett Buildings and Holdings LLC operates as a single-asset real estate company based in Montgomery, NY, focusing on a partially constructed single-family residence in a historic district. Corbett Buildings and Holdings LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-35073) on January 24, 2025. In its petition, the Debtor reports estimated assets between $100,000 and $500,000 and estimated liabilities between $500,000 and $1 million. The Debtor tapped Michelle L. Trier, Esq., at Genova, Malin & Trier, LLP as bankruptcy counsel and The Law Offices of Alan L. Joseph as special counsel. CROWDSTRIKE HOLDINGS: S&P Alters Outlook to Pos, Affirms 'BB+' ICR ------------------------------------------------------------------ S&P Global Ratings affirmed its 'BB+' issuer credit rating on CrowdStrike Holdings Inc. S&P also raised the issue level rating on its $750 million notes to 'BB+' from 'BB' and revised the recovery rating to '4' from '5'. S&P said, "The positive outlook reflects our expectation that CrowdStrike will generate revenue, EBITDA, and free cash flow growth well above industry averages. We expect CrowdStrike's platform adoption to continue to stay strong and its ARR to surpass $5 billion within the next year." CrowdStrike has demonstrated resilience and continues to expand revenues above industry averages despite 2024 outage related challenges. Despite facing challenges from the July outage, CrowdStrike Holdings Inc. has exhibited impressive business performance, showcasing effective management and execution. The company has experienced notable increases in module adoption and growth in emerging offerings. S&P said, "As a result, CrowdStrike's 2025 revenues have exceeded our prior base-case assumptions, resulting in improved revenue and free cash flow projections for the next 2-3 years. We expect CrowdStrike's platform adoption to continue to stay strong and its ARR to surpass $5 billion within the next year." S&P said, "We view CrowdStrike as a key beneficiary of generative AI proliferation within security. The company has extended its lead in endpoint security with strong adoption of Charlotte AI, its generative AI security analyst." CrowdStrike believes it has a sustainable data advantage, with more than a decade of attack data and a rich set of security telemetry. This helps CrowdStrike analyze an organization's real-time risk profile, assess its security posture, and automate detection and response actions. Its suite has also helped improve adoption of the Falcon platform. Though still early days, CrowdStrike disclosed that Charlotte AI was included in more than 100 customer deals during its latest quarter. Similarly, its threat intelligence collection practices have enabled the company's Next-Gen SIEM business grew more than 115% year-over-year to $330 million in ARR at the end of fiscal 2025. CrowdStrike has cushion at the current rating to address litigation costs and execute its M&A plans. S&P said, "CrowdStrike has outperformed our expectations at the current rating level, and we continue to view it is as one of the better cybersecurity software companies. Although costs related to the software update outage are unknown, we believe CrowdStrike has meaningful cushion at the rating to address any incident-related costs. It has a significant net cash position (approaching $5 billion compared with $750 million of unsecured notes), increasing revenue and EBITDA scale, and annual free cash flow above $1 billion. The company has completed multiple acquisitions in recent years using balance sheet cash. Given the rapidly changing competitive landscape and CrowdStrike's focus on growth, we incorporate some headroom at the rating to account for M&A. If current performance trends continue, the company is well set up for an upgrade over the next 6-12 months." S&P said, "The positive outlook reflects our expectation that CrowdStrike will generate revenue, EBITDA, and free cash flow growth above industry averages. We expect CrowdStrike's platform adoption to continue to stay strong and its revenues to surpass $5 billion within the next year." Although S&P views a downgrade as unlikely over the next 12 months due to the company's strong balance sheet and liquidity, It would consider lowering its rating on CrowdStrike if: -- Its financial policy became more aggressive than S&P expects, either to support greater shareholder returns or engage in large acquisitions; and -- It sustained S&P Global Ratings-adjusted leverage exceeding the 2x area. S&P would consider upgrading CrowdStrike to 'BBB-' over the next 6-12 months if: -- It continued to increase revenue and EBITDA at scale and maintained S&P Global Ratings-adjusted leverage of less than 2x (incorporating acquisitions and shareholder returns); and -- S&P believed the company will manage any costs related to the outage within this threshold and that there has been minimal impact to its market position over a multiyear horizon. CTN HOLDINGS: Seeks Approval to Hire BDO USA as Tax Consultants --------------------------------------------------------------- CTN Holdings, Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Delaware to employ BDO USA PC as tax consultants. The firm will render these services: (a) Owner Shift Analysis (i) review the Debtors' equity activity to identify 5 percent shareholders, first tier, and higher-tier entities within the period from 2015-2018; (ii) compute and provide a report of section 382 owner shifts within the 382 Analysis Period in order to identify section 382 ownership changes pursuant to Internal Revenue Service (IRS) section 382(g), if any, within the 382 Analysis Period; (iii) provide a summary document that sets forth the conclusion of BDO USA's analysis. (b) Cancellation of Indebtedness Income (CODI) - BDO USA will review and analyze the expected U.S. federal income tax consequences resulting from the cancellation of certain debt instruments pursuant to a confirmed bankruptcy plan in order to determine the amount of CODI or gain/loss that is expected to be recognized from the Plan. (c) 2024 Tax Return Preparation – BDO USA will prepare the Debtors' 2024 U.S. Corporate federal income tax return and prepare estimated federal and estimated tax vouchers for 2024. (d) 2025 Tax Return Preparation – BDO USA will prepare the Debtors' 2025 U.S. Corporate federal income tax return and prepare estimated federal and estimated tax vouchers for 2025. (e) Scenario Modeling – BDO USA will prepare a high level summary of certain bankruptcy options including possible tax consequences resulting from (1) a section 363 sale, and an in-court tax deferred restructure with the application of section 382(l)(5) or with the application of section 382(l)(6); a reorganization under Section 368(a)(1)(G); prepare a detailed section 382 limitation and NUBIG/NUBIL calculations; prepare tax balance sheets for the Debtors to determine impact of Bankruptcy Code Section 363 sale, and prepare interest reduction calculations to determine impact of section 382(l)(5) on the Debtors' historic tax attributes. The firm's professionals will be paid at these hourly rates: Principals/Managing Director $725 - $1,150 Director $650 - $850 Manager $550 - $750 Seniors $375 - $625 Associates $175 - $375 In addition, the firm will seek reimbursement for expenses incurred. Kevin Wilkes, a principal at BDO USA, 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: Kevin Wilkes BDO USA, PC 600 Anton Boulevard, Suite 500 Costa Mesa, CA 92626 Telephone: (714) 957-3200 Facsimile: (714) 957-1080 About CTN Holdings CTN Holdings Inc., formerly known as Aspiration Partners Inc., is a climate finance company specializing in providing high-quality carbon solutions to businesses worldwide. They connect companies with effective decarbonization strategies and a wide range of carbon removal projects, selling carbon credits sourced from a diverse network of project developers. The company is famous for providing carbon creditors of Microsoft Corp., Meta Platforms Inc., and other big companies. CTN Holdings Inc. and six of its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10613) on March 30, 2025. In the petition, the Debtors reported estimated assets of $50 million to $100 million and up to $50,000 and estimated liabilities of $100 million to $500 million. The petitions were signed by Miles Staglik as chief restructuring officer. The Debtors tapped Whiteford, Taylor & Preston LLC as counsel and BDO USA PC as tax consultants. Kurtzman Carson Consultants, LLC dba Verita Global, is the Debtors' claims and noticing agent. DANNIKLOR ENTERPRISES: Hires Furr and Cohen as Bankruptcy Counsel ----------------------------------------------------------------- Danniklor Enterprises, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Furr and Cohen, PA as counsel. The firm will render these services: (a) advise the Debtor with respect to its powers and duties in the continued management of its business operations; (b) advise the Debtor with respect to its responsibilities in complying with the U.S. Trustee's Operating Guidelines and Reporting Requirements and with the rules of the court; (c) prepare legal documents necessary in the administration of the Chapter 11 case; (d) protect the interest of the Debtor in all matters pending before the court; and (e) represent the Debtor in negotiations with creditors in preparation of a plan. The firm will be paid at these hourly rates: Robert Furr, Attorney $725 Alvin Goldstein, Attorney $625 Alan Crane, Attorney $625 Marc Barmat, Attorney $625 Jason Rigoli, Attorney $575 Jonathan Crane, Attorney $375 Paralegals $225 The firm received a retainer of $50,000 from the Debtor. Mr. Furr 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 C. Furr, Esq. Furr and Cohen, PA 2255 Glades road, Suite 419A Boca Raton, FL 33431 Telephone: (561) 395-0500 Facsimile: (561) 338-7532 Email: rfurr@furrcohen.com About Danniklor Enterprises Danniklor Enterprises LLC, operating as Bikes Palm Beach, sells a wide range of bicycles and accessories, including kids' bikes, hybrid and electric bikes, triathlon bikes, and high-end road bikes. The Company also offers cycling gear such as helmets, lights, sunglasses, and athletic footwear. In addition to retail sales, it provides bicycle maintenance services with a 24-hour turnaround commitment at its location in Jupiter, Florida. Danniklor Enterprises LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-15192) on May 8, 2025. In its petition, the Debtor reports total assets of $119,176 and total liabilities of $1,984,41. Honorable Bankruptcy Judge Mindy A. Mora handles the case. The Debtors are represented by Robert C. Furr, Esq., at Furr and Cohen, PA. DATAVAULT AI: Receives Nasdaq Notice for Bid Price Non-Compliance ----------------------------------------------------------------- Datavault AI Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company, received a written notification from the Listing Qualifications Department of the Nasdaq Stock Market LLC notifying the Company that it was not in compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market, as set forth under Nasdaq Listing Rule 5550(a)(2), because the closing bid price of the Company's common stock, par value $0.0001 per share, was below $1.00 per share for the 30 consecutive business days prior to May 6, 2025. The Notice has no immediate effect on the listing of the Common Stock, which will continue to trade uninterrupted on the Nasdaq Capital Market under the ticker "DVLT." Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has been granted 180 calendar days from May 6, 2025, or until November 3, 2025, to regain compliance with the Minimum Bid Price Requirement. If at any time during the Compliance Period, the bid price of the Common Stock closes at or above $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide the Company with written confirmation of compliance with the Minimum Bid Price Requirement and the matter will be closed. In the event the Company does not regain compliance with the Minimum Bid Price Requirement by November 3, 2025, the Company may be eligible for an additional 180-calendar day grace period. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the Minimum Bid Price Requirement, and will need to provide written notice to Nasdaq of its intent to regain compliance with such requirement during such second compliance period. If the Company does not regain compliance within the allotted compliance period(s), including any extensions that may be granted by Nasdaq, Nasdaq will provide notice that the Common Stock will be subject to delisting from the Nasdaq Capital Market. The Company intends to continuously monitor the closing bid price for its Common Stock and is in the process of considering various measures to resolve the deficiency and regain compliance with the Minimum Bid Price Requirement. However, there can be no assurance that the Company will be able to regain compliance with the Minimum Bid Price Requirement, even if it maintains compliance with the other Nasdaq listing requirements, or that Nasdaq will grant the Company any extension of time to regain compliance with the Minimum Bid Price Requirement or any other Nasdaq listing requirements, if applicable. About Datavault AI Datavault AI Inc. (f/k/a WiSA Technologies, Inc.) -- www.wisatechnologies.com -- develops and markets spatial audio wireless technology for smart devices and home entertainment systems. The Company's WiSA Association collaborates with consumer electronics companies, technology providers, retailers, and industry partners to promote high-quality spatial audio experiences. WiSA E is the Company's proprietary technology for seamless integration across platforms and devices. San Jose, California-based BPM LLP, the Company's auditor since 2016, issued a "going concern" qualification in its report dated March 31, 2024, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company's recurring losses from operations, a net capital deficiency, available cash and cash used in operations raise substantial doubt about its ability to continue as a going concern. The Company has incurred net operating losses each year since inception. As of December 31, 2024, the Company had cash and cash equivalents of $3.3 million and reported net cash used in operations of $17.5 million during the year ended December 31, 2024. The Company expects operating losses to continue in the foreseeable future because of additional costs and expenses related to research and development activities, plans to expand its product portfolio, and increase its market share. The Company's ability to transition to attaining profitable operations is dependent upon achieving a level of revenues adequate to support its cost structure. DOUBLE PLAY: Catherine Stone Curtis Named Subchapter V Trustee -------------------------------------------------------------- The U.S. Trustee for Region 7 appointed Catherine Stone Curtis as Subchapter V trustee for Double Play Oil & Gas, Inc. Ms. Curtis will be paid an hourly fee of $450 for her services as Subchapter V trustee, an hourly fee of $100.00 for her support staff, and will be reimbursed for work-related expenses incurred. Ms. Curtis declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Catherine Stone Curtis MCGINNIS LOCHRIDGE P.O. Box 720788 McAllen, TX 78504 Ph: (956) 489-5958 Fax: (956) 331-2304 Email: ccurtis@mcginnislaw.com About Double Play Oil & Gas Double Play Oil & Gas, Inc. is an oil and gas operator in Portland, Texas. Double Play Oil & Gas filed Chapter 11 petition (Bankr. S.D. Texas Case No. 25-20130) on May 5, 2025, listing up to $50,000 in assets and up to $10 million in liabilities. Glenn Burdine, director and president of Double Play Oil & Gas, signed the petition. Judge Marvin Isgur oversees the case. Stephen W. Sather, Esq., at Barron & Newburger, P.C., represents the Debtor as legal counsel. ELMWOOD VENTURES: Salvatore LaMonica Named Subchapter V Trustee --------------------------------------------------------------- The U.S. Trustee for Region 2 appointed Salvatore LaMonica, Esq., at LaMonica Herbst & Maniscalco, LLP, as Subchapter V trustee for Elmwood Ventures, LLC. Mr. LaMonica will be paid an hourly fee of $725 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. LaMonica declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Salvatore LaMonica, Esq. LaMonica Herbst & Maniscalco, LLP 3305 Jerusalem Avenue, Suite 201 Wantagh, NY 11793 Phone: (516) 826-6500 Email: sl@lhmlawfirm.com About Elmwood Ventures LLC Elmwood Ventures, LLC, doing business as Buddha-Bar New York, operates a modern Asian fusion restaurant located at 62 Thomas Street in the Tribeca neighborhood of Manhattan. The venue features a two-story dining space with a prominent 16-foot Buddha sculpture and offers dinner service from Wednesday to Sunday. Elmwood Ventures sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-10932) on May 6, 2025. In its petition, the Debtor reported between $1 million and $10 million in both assets and liabilities. Judge Martin Glenn handles the case. The Debtors are represented by Lawrence Morrison, Esq., at Morrison Tenenbaum, PLLC. ETHEMA HEALTH: Posts $2.17M Loss in FY2024 on Higher Pre-Tax Losses ------------------------------------------------------------------- Ethema Health Corp. posted a net loss of $2.17 million for the year ended Dec. 31, 2024, reversing a $1.01 million profit a year earlier, as wider pre-tax losses and the absence of a prior-year tax reversal weighed on results, according to its 10-K filing with the Securities and Exchange Commission. Revenue rose to $6.02 million from $5.34 million in 2023. The Company had $12.16 million in total assets, $19.62 million in total liabilities, and a total stockholders' deficit of $7.46 million as of Dec. 31, 2024. For the year ended Dec. 31, 2024, the Company incurred operating losses of $1.3 million and had a negative cash flow from operating activities of 0.5 million. As of Dec. 31, 2024, the Company had an accumulated deficit of $44.4 million, working capital deficiency of $9.1 million and total liabilities in excess of total assets of $7.5 million. Over the next twelve months, the Company estimates it will require approximately $3.8 million in funding to repay its obligations other than convertible notes. The Company will need funding for working capital as it pursues additional addiction treatment opportunities in the US market. In the opinion of management, the Company's liquidity risk is assessed as high. In an audit report dated May 23, 2025, RBSM LLP issued a "going concern" qualification citing that the Company has suffered recurring losses from operations, generated negative cash flows from operating activities, has working capital deficiency and accumulated deficit. These conditions raise substantial doubt about the Company's ability to continue as a going concern. Ethema Health stated that management believes current resources will be insufficient to cover planned expenditures over the next 12 months. As a result, the Company will rely on raising additional capital through issuing common shares and/or debt financing to execute its business plan and achieve revenue exceeding costs. The Company noted that raising capital through equity or convertible securities may dilute existing shareholders, with such securities potentially carrying rights senior to common stock or convertible senior notes. Debt financing could impose operational restrictions due to covenants or other terms. Additionally, financing agreements with collaborators or strategic partners might require the Company to relinquish rights to certain geographic areas or technologies. The Company does not guarantee successful future financing, and failure to secure funding could materially harm its financial condition. Given the uncertainties outlined, Ethema Health believes its business plan does not resolve substantial doubt about its ability to continue as a going concern for one year from the date of these consolidated financial statements. The complete text of the Form 10-K is available for free at: https://www.sec.gov/Archives/edgar/data/792935/000190359625000296/grst_10k.htm About Ethema Health Ethema Health Corp. is a Colorado-based company headquartered in West Palm Beach, Florida, focused on addiction treatment services in the United States. Originally established as an oil and gas exploration firm, the Company transitioned through various sectors—including electronics -- before shifting to healthcare. It now operates primarily through Evernia, maintaining in-network relationships with healthcare providers to source most of its clients. EXCELL COMMUNICATIONS: Hires Ruskin Moscou Faltischek as Counsel ---------------------------------------------------------------- Excell Communications, Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Ruskin Moscou Faltischek, PC as counsel. The firm will render these services: (a) provide legal advice with respect to the Debtors' powers and duties in the continued operation of their businesses and management of their properties; (b) prepare on behalf of the Debtors any necessary legal papers; (c) appear in court on behalf of the Debtors; (d) review all pleadings filed in the Debtors' Chapter 11 cases; (e) prepare and pursue confirmation of a plan of reorganization or otherwise; and (f) perform such other legal services for the Debtors that may be necessary and proper in these proceedings. The firm will be paid at these hourly rates: Michael Amato, Partner $695 Sheryl Giugliano, Partner $640 Adam Rosen, Of Counsel $685 Daniel McAuliffe, Of Counsel $625 Nicolas Florio, Associate $350 Madison Scarfaro, Associate $325 In addition, the firm will seek reimbursement for expenses incurred. The firm received an initial retainer of $100,000 from the Debtors. Mr. Amato 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: Michael S. Amato, Esq. Ruskin Moscou Faltischek, PC 1425 RXR Plaza East Tower, 15th Floor Uniondale, NY 11556 Telephone: (516) 663-6600 Email: mamato@rmfpc.com About Excell Communications Excell Communications, Inc. and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-71444) on Apr. 14, 2025. Judge Louis A Scarcella oversees the case. The Debtors tapped Ruskin Moscou Faltischek, PC as counsel, Harris Beach Murtha Cullina PLLC as special counsel, and Lindenwood Associates, LLC as financial advisor. EXCELL COMMUNICATIONS: Seeks to Tap Lindenwood as Financial Advisor ------------------------------------------------------------------- Excell Communications, Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Lindenwood Associates, LLC as financial advisor. The firm will render these services: (a) provide the court with monthly operating reports consistent with the standards and forms provided by the United States Trustee; (b) maintain a 13-week cash flow projection and update it periodically; (c) appear for the Debtors in court conferences when necessary; (d) develop the financial projections and liquidation analysis to support the feasibility of a bankruptcy plan; (e) conduct claims analysis and administer disputed claims; (d) assist counsel in the development of the disclosure statement and plan of reorganization and/or 363 asset sale, if applicable; (e) conduct avoidance action analysis to determine preferences and fraudulent conveyances; (f) provide counsel with support for litigation, if applicable; and (g) perform any required post-confirmation reporting and other required tasks. Address any other items relevant to the above services upon request of the Debtors or their counsel. The firm's professionals will be paid at these hourly rates: Nat Wasserstein, Managing Partner $485 Bruce Berger, Managing Partner $485 In addition, the firm will seek reimbursement for expenses incurred. The firm received initial retainer payments in the amount of $30,000 from the Debtors. Mr. Wasserstein 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: Nat Wasserstein Lindenwood Associates, LLC 328 North Broadway, 2nd Floor Upper Nyack, NY 10960 Telephone: (917) 670-7302 Email: nat@lindenwoodassociates.com About Excell Communications Excell Communications, Inc. and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-71444) on Apr. 14, 2025. Judge Louis A Scarcella oversees the case. The Debtors tapped Ruskin Moscou Faltischek, PC as counsel, Harris Beach Murtha Cullina PLLC as special counsel, and Lindenwood Associates, LLC as financial advisor. EXCELL COMMUNICATIONS: Taps Harris Beach Murtha Cullina as Counsel ------------------------------------------------------------------ Excell Communications, Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Harris Beach Murtha Cullina PLLC as special counsel. The firm will provide legal advice and services in connection with the Debtors' corporate, real estate, employment, non-bankruptcy related litigation, and regulatory matters. The firm will be paid at these hourly rates: Jack Martins, Partner $540 Daniel Moore, Partner $540 Elliot Hallak, Of Counsel $540 Terence Flynn, Of Counsel $540 In addition, the firm will seek reimbursement for expenses incurred. Within 90 days prior to the petition Date, Harris Beach received total compensation of $204,541.35. Mr. Martins 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: Jack Martins, Esq. Harris Beach Murtha Cullina PLLC The Omni, 333 Earle Ovington Blvd., Suite 901 Uniondale, NY 11553 Telephone: (516) 880-8484 Email: jmartins@harrisbeach.com About Excell Communications Excell Communications, Inc. and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-71444) on Apr. 14, 2025. Judge Louis A Scarcella oversees the case. The Debtors tapped Ruskin Moscou Faltischek, PC as counsel, Harris Beach Murtha Cullina PLLC as special counsel, and Lindenwood Associates, LLC as financial advisor. EXTERIOR CONSTRUCTION: Goodman Named Successor Subchapter V Trustee ------------------------------------------------------------------- The Acting U.S. Trustee for Region 13 appointed Lauren Goodman as Successor Subchapter V trustee for Exterior Construction Services, Inc. and affiliates. Ms. Goodman will be paid an hourly fee of $375 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Goodman declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Lauren R. Goodman McGrath North 1601 Dodge Street, Suite 3700 Omaha, NE 68102 Phone: 402-341-3070 Email: lgoodman@mcgrathnorth.com About Exterior Construction Exterior Construction Services, Inc. is a gutter, roofing, and siding company in Omaha, Neb. Exterior Construction Services filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Neb. Case No. 24-80090) on February 14, 2024, with $249,892 in assets and $1,800,145 in liabilities. Brandt R. Karstens, president of Exterior Construction Services, signed the petition. Judge Brian S. Kruse oversees the case. Patrick Patino, Esq., at Patino King and Yost, L.L.C. represents the Debtor as legal counsel. FLAGSHIP RESORT: Seeks to Tap Kroll as Claims and Noticing Agent ---------------------------------------------------------------- Flagship Resort Development Corporation seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ Kroll Restructuring Administration LLC as claims, noticing and solicitation agent. Kroll 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 the Debtor. Prior to the petition date, the Debtor provided Kroll an advance in the amount of $35,000. Benjamin Steele, a managing director at Kroll, 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: Benjamin Steele Kroll Restructuring Administration LLC One World Trade Center 285 Fulton Street, 31st Floor New York, NY 10007 Telephone: (212) 871-2000 About Flagship Resort Development Flagship Resort Development Corporation, a privately held hospitality and resort development company based in New Jersey, specializes in timeshare vacation ownership in the Atlantic City region. It operates 774 living units across three properties -- Flagship All-Suites Resort, Atlantic Palace, and La Sammana Resort -- offering a mix of deeded timeshare interests, club memberships, and exchange-based travel benefits. The company is a wholly owned subsidiary of FantaSea Resorts Group, Inc. Flagship Resort Development Corporation sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-15047) on May 10, 2025. In its petition, the Debtor reports estimated assets between $50 million and $100 million. Honorable Bankruptcy Judge Jerrold N. Poslusny Jr. handles the case. The Debtor is represented by Warren J. Martin Jr., Esq. at Porzio, Bromberg & Newman, P.C. Kroll Restructuring Administration LLC is the Debtor's Notice, claims, solicitation, balloting and administrative agent. FREE SPEECH: $45.1MM Hook Verdict Unconstitutional, Says Alex Jones ------------------------------------------------------------------- Yun Park of Law360 reports that Alex Jones’ new legal team has asked a Texas appeals court to reverse the $45.1 million defamation verdict awarded to Sandy Hook families, arguing the default judgment was improperly issued with minimal discovery and that the punitive damages violate Texas law by exceeding limits tied to actual harm. 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. GLOBAL PREMIER: Claims to be Paid From Exit Financing or Proceeds ----------------------------------------------------------------- Global Premier Regency Palms Colton, LP, a California limited Partnership filed with the U.S. Bankruptcy Court for the Central District of California a Disclosure Statement in support of Joint Plan of Reorganization dated May 6, 2025. The Debtor was formed in 2014 to purchase land and develop and operate an assisted living/memory care facility located at 38722 Orchid View Place, Palmdale, California. In late 2019, the Debtor began its development of an 80-unit 58,900 square foot assisted living/memory care facility located at 38722 Orchid View Place, Palmdale, California ("Facility"), which is 98% complete. The Debtor estimates that it needs $2.5 million to complete its construction. The Debtor owns and on or about May 31, 2019, formed its wholly owned nondebtor subsidiary Global Regency Palmdale Senior Care Services, LLC dba Regency Palms Senior Living ("Regency Palms Senior Living"), to operate the Facility. The Debtor's primary asset is the Property. Based on an appraisal dated July 27, 2023, the Property was estimated to have an as-is, liquidation value of $15,000,000 for the date June 2, 2023; an as is going concern value of $24,300,000 for the date June 2, 2023; prospective going concern value at completion of $23,500,000 for the date December 2, 2023; and a prospective stabilization value of $of $30,800,000 for the date December 2, 2025. The Debtor has prepared Projections, which includes cash flow projections for the Property, along with assumptions on which such projections are based. As the Projections indicate, the Debtor projects that the net cash flow from the operations generated from the Property, financing proceeds and, if necessary, net sales proceeds, will be sufficient to pay all Allowed Claims in accordance with the treatment of such Allowed Claims. The Plan provides for payments to Creditors through a reorganization, which may provide for refinancing and/or debt and equity recapitalization. Under the Plan, General Unsecured Creditors will receive their Pro Rata share of the Plan Fund based on each of their respective Allowed Claims. The reorganization of the Debtor will generate a greater distribution to Creditors than what would be realized in a Chapter 7 liquidation. The Plan provides that General Unsecured Creditors will receive one hundred percent on account of their Allowed General Unsecured Claim from income generated from the business operations over five years and/or the refinancing or sale of the Assets. Class 8 consists of Allowed General Unsecured Claims. Except to the extent that a member of this Class agrees to a less favorable treatment, each member of this Class shall receive its Pro Rata share of the Plan Fund based on each member's Allowed General Unsecured Claim relative to all Allowed General Unsecured Claims and the Allowed Claim of RCB. Payment shall be made within later of (i) the first Business Day of the first full month following the Effective Date, or (ii) the tenth Business Day after such Claim becomes an Allowed Claim. Creditor's rights are impaired under the Plan. The Reorganized Debtor shall make all payments due under the Plan to holders of Allowed Claims and Allowed Interests from one or more of the following: (a) funds from the Exit Financing provided by Shaughnessy; (b) any proceeds from the prosecution and/or settlement of Causes of Action, including Avoidance Actions; and (c) proceeds from the sale or financing of the Reorganized Debtor's business or real property. Shaughnessy shall provide Exit Financing in an amount necessary to enable the Reorganized Debtor to complete the development of the Facility on the Property, including, but not limited to, all necessary construction, improvements, and related expenses required for the establishment of the Facility, and fund all obligations arising from the terms of the Plan. The Exit Financing shall be used to ensure the timely completion of the development and the commencement of operations for the Facility. It is anticipated that the Debtor will sell the Property and/or its business in furtherance of satisfaction of its obligations under the Plan. Pursuant to the terms of the Plan, Shaughnessy has agreed to forbear from selling the Property during the Holding Period. A full-text copy of the Disclosure Statement dated May 6, 2025 is available at https://urlcurt.com/u?l=MahXqO from PacerMonitor.com at no charge. General Insolvency Counsel for the Debtor: Garrick A. Hollander, Esq. WINTHROP GOLUBOW HOLLANDER, LLP 1301 Dove Street, Suite 500 Newport Beach, CA 92660 Tel.: (949) 720-4100 Fax: (949) 720-4111 E-mail: ghollander@wghlawyers.com About Global Premier Regency Palms Colton Global Premier Regency Palms Colton, LP, a limited partnership in Irvine, Calif., filed its voluntary petition for Chapter 11 protection (Bankr. C.D. Cal. Case No. 23-11271) on June 22, 2023. The case was transferred from the Santa Ana Division to the Northern Division on June 26, 2023, and was assigned a new case number (Case No. 23-10517). Judge Ronald A. Clifford III oversees the case. At the time of the filing, the Debtor reported $10 million to $50 million in both assets and liabilities. Winthrop Golubow Hollander, LLP serves as the Debtor's legal counsel. GOL LINHAS: US Trustee Wants to Appeal Chapter 11 Plan Approval --------------------------------------------------------------- Ben Zigterman of Law360 Bankruptcy Authority reports that on Friday, May 23, 2025, the U.S. Trustee's Office announced its intention to appeal a New York bankruptcy judge's ruling that confirmed the Chapter 11 plan of Brazilian airline Gol Linhas Aereas Inteligentes SA, after the court dismissed the agency's objection to the plan's third-party release clauses. About Gol GOLL4.SA GOL Linhas Aereas Inteligentes S.A. provides scheduled and non-scheduled air transportation services for passengers and cargo; and maintenance services for aircraft and components in Brazil and internationally. The company offers Smiles, a frequent-flyer program to approximately 20.5 million members, allowing clients to accumulate and redeem miles. It operates a fleet of 146 Boeing 737 aircraft with 674 daily flights. The company was founded in 2000 and is headquartered in Sao Paulo, Brazil. GOL Linhas Aereas Inteligentes S.A. and its affiliates and its subsidiaries voluntarily filed for Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 24-10118) on Jan. 25, 2024. GOL Linhas estimated $1 billion to $10 billion in assets as of the bankruptcy filing. The Debtors tapped Milbank Llp as counsel, Seabury Securities LlC as restructuring advisor, financial advisor and investment banker, Alixpartners, LLP, as financial advisor, and HUGHES Hubbard & Reed LLP as aviation related counsel. Kroll Restructuring Administration LLC is the claims agent. GREAT OAKS LEGACY: S&P Lowers ICR to 'BB' On Weakened Finances -------------------------------------------------------------- S&P Global Ratings lowered its issuer credit rating (ICR) to 'BB' from 'BB+' on Great Oaks Legacy Charter School (GOLCS), N.J. The outlook is stable. The downgrade reflects S&P's view of GOLCS's weakened financial position, particularly its fiscal 2024 operating deficit; trend of decreasing liquidity; and elevated debt burden. S&P said, "Our rating action incorporates weaknesses in risk management, culture, and oversight, reflecting our view of management's lack of financial oversight in fiscal 2024, which led to unanticipated weakening of liquidity and a larger-than-projected operating deficit. It also reflects a history of optimistic revenue assumptions that have led to negative budgetary variances. Considering that GOLCS has hired additional financial personnel to oversee its budget and has changed its budget-monitoring process, we anticipate it will improve in the near term. We analyzed GOLCS's environmental, and social, factors and consider them neutral in our credit rating analysis. "The stable outlook reflects our expectation that GOLCS will monitor its budgets and make necessary budget adjustments throughout the year to achieve balanced operations in fiscal 2025 and will gradually improve its thin liquidity during the outlook period. "We could take a negative rating action if GOLCS sustains negative operating results, further weakening its lease-adjusted MADS coverage or days' cash on hand. Although the school has no new issuances planned, we would view any significant additional debt negatively. "We could raise the rating if GOLCS achieves balanced-to-positive operating performance, improves and sustains its lease-adjusted MADS coverage and liquidity at levels commensurate with a higher rating, and moderates its debt burden." GREEN ACRES: Lauren Goodman Named Successor Subchapter V Trustee ---------------------------------------------------------------- The Acting U.S. Trustee for Region 13 appointed Lauren Goodman as successor Subchapter V trustee for Green Acres MHP, LLC. Ms. Goodman will be paid an hourly fee of $375 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Goodman declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Lauren R. Goodman McGrath North 1601 Dodge Street, Suite 3700 Omaha, NE 68102 Phone: 402-341-3070 Email: lgoodman@mcgrathnorth.com About Green Acres MHP Green Acres MHP, LLC filed a petition for relief under Subchapter V of Chapter 11 of the Bankruptcy Code (Bankr. D. Neb. Case No. 22-80635) on Aug. 25, 2022, listing $500,000 to $1 million in both assets and liabilities. James A. Overcash has been appointed as Subchapter V trustee. Judge Thomas L. Saladino oversees the case. Patrick Patino, Esq., at Patino King, LLC is the Debtor's bankruptcy counsel while Croker, Huck, Kasher, DeWitt, Anderson & Gonderinger, LLC serves as special counsel. H&E EQUIPMENT: S&P Removes 'BB-' Unsec. Debt Rating Off Watch Neg. ------------------------------------------------------------------ S&P Global Ratings removed its 'BB-' issue-level ratings on H&E Equipment Services Inc.'s senior unsecured debt from CreditWatch with negative implications. S&P said, "Our 'BB-' issuer credit rating on H&E remains on CreditWatch with positive implications, reflecting at least a 1-in-2 likelihood that we could raise it following the acquisition by higher-rated Herc." On Feb. 19, 2025, H&E announced it entered into a definitive agreement to be acquired by U.S.-based equipment rental company Herc Holdings Inc. S&P said, "We recently affirmed Herc's 'BB-' unsecured debt ratings following its proposed debt issuance, and, consequently, we no longer expect at least a 1-in-2 chance of lowering H&E's unsecured debt rating at transaction close. Also, we expect H&E's outstanding debt will be fully repaid at transaction close. For more information on the rating actions on Herc's debt, see our research update on Herc (BB/Negative/--), published May 12, 2025. "We expect higher-rated Herc will fully integrate H&E into its operations. Consequently, our 'BB-' issuer credit rating on H&E remains on CreditWatch with positive implications. "We will likely withdraw our ratings on H&E following transaction close if substantially all its senior unsecured debt is retired. "The CreditWatch placement reflects our view that there is at least a 1-in-2 likelihood that we could raise our issuer credit rating on H&E by one notch when the acquisition closes. We could raise the rating if we view H&E as core to Herc." HALL OF FAME: Stuart Lichter Holds 73.1% Stake as of May 7 ---------------------------------------------------------- Stuart Lichter disclosed in a Schedule 13D filed with the U.S. Securities and Exchange Commission that as of May 7, 2025, he beneficially owned 14,152,264 shares of the Common Stock of Hall of Fame Resort & Entertainment Co., representing approximately 73.1% of the 6,698,645 shares of Common Stock outstanding as of March 21, 2025, as reported in the Company's Annual Report on Form 10-K filed on March 26, 2025. The beneficial ownership includes shares held directly and indirectly through affiliated entities, including: - CH Capital Lending, LLC which beneficially owns 12,380,981 shares (67.6%), - IRG Canton Village Member, LLC and IRG Canton Village Manager, LLC which each beneficially own 840,168 shares (12.3%) - IRG, LLC with 477,165 shares (6.7%), - Midwest Lender Fund, LLC with 421,796 shares (5.9%), and - American Capital Center, LLC with 18,521 shares (0.3%). These shares include those issuable upon exercise of warrants, conversion of convertible notes, and conversion of preferred stock as detailed in the filing. Stuart Lichter and the affiliated entities may be reached through: Rick Miller 14th Floor, 1201 Peachtree St. NW Atlanta, GA, 30309 (404) 572-6600 Amy Wilson 14th Floor, 1201 Peachtree St. NW Atlanta, GA, 30309 (404) 572-6600 Bryan Cave Leighton Paisner 14th Floor, 1201 Peachtree St. NW Atlanta, GA, 30309 (404) 572-6600 A full-text copy of Mr. Lichter's SEC report is available at: https://tinyurl.com/5p4dthht About Hall of Fame Resort Hall of Fame Resort & Entertainment Co. is a resort and entertainment company leveraging the power and popularity of professional football and its legendary players in partnership with the National Football Museum, Inc., doing business as the Pro Football Hall of Fame. Headquartered in Canton, Ohio, the Company owns the DoubleTree by Hilton located in downtown Canton and the Hall of Fame Village, which is a multi-use sports, entertainment, and media destination centered around the PFHOF's campus. Cleveland, Ohio-based Grant Thornton LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 26, 2025, attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, citing that the Company has sustained recurring losses through December 31, 2024 and utilized cash from operations of $10.9 million during the year ended December 31, 2024. The Company has $109.5 million of debt due through December 31, 2025, and will need to raise additional financing to accomplish its development plans and fund its working capital. These conditions, along with other matters, raise substantial doubt about the Company's ability to continue as a going concern. As of Dec. 31, 2024, the Company had $366.7 million in total assets, $294.5 million in total liabilities, and a total equity of $72.2 million. The Company's accumulated deficit was $273.6 million as of December 31, 2024. HIAWATHA MANOR: Seeks to Hire Real Estate Broker and Auctioneer --------------------------------------------------------------- Hiawatha Manor Association, Inc. seeks approval from the U.S. Bankruptcy Court for the Middle District of Tennessee to employ Commercial Real Estate Exchange, Inc. as commercial real estate broker and auctioneer. The firm will assist the Debtor in selling its property located at: (a) 8005 Cherokee Trail, Crossville, Tennessee; and (b) 8007 Cherokee Trail, Crossville, Tennessee. Sonya Bokano, the vice president of Crexi Transactions at Commercial Real Estate Exchange, 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: Sonya Bokano Commercial Real Estate Exchange, Inc. 9 Executive Cir., #225 Irvine, CA About Hiawatha Manor Association Hiawatha Manor Association Inc. oversees the management of the timeshare condominiums known as Hiawatha Manor and Hiawatha Manor I. Hiawatha Manor Association Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Tenn. Case No. 25-01916) on May 6, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Randal S. Mashburn handles the case. The Debtor is represented by Blake D. Roth, Esq., at Holland & Knight LLP. INSPIREMD INC: Rosalind Entities Hold 7.7% Stake as of March 31 --------------------------------------------------------------- Rosalind Advisors, Inc., Rosalind Master Fund L.P., Rosalind Opportunities Fund I L.P., Steven Salamon, and Gilad Aharon disclosed in a Joint Schedule 13G (Amendment No. 7) filed with the U.S. Securities and Exchange Commission that as of March 31, 2025, they beneficially owned 9,713,171 shares of InspireMD, Inc.'s common stock, consisting of 2,274,990 shares of common stock and 7,438,181 shares issuable upon exercise of warrants, representing 7.7% of 29,689,857 shares of common stock outstanding as reported by the Company on March 12, 2025. Rosalind Advisors, Inc. may be reached through: Steven Salamon, President 25 Admiral Road Toronto A6 M5R 2L4 Tel: 416-8887-606 A full-text copy of Rosalind's SEC report is available at: https://tinyurl.com/484554ha About InspireMD Headquartered in Tel Aviv, Israel, InspireMD, Inc. -- http://www.inspiremd.com/-- is a medical device company focusing on the development and commercialization of its proprietary MicroNet stent platform technology for the treatment of complex vascular and coronary disease. A stent is an expandable "scaffold-like" device, usually constructed of a metallic material, that is inserted into an artery to expand the inside passage and improve blood flow. Its MicroNet, a micron mesh sleeve, is wrapped over a stent to provide embolic protection in stenting procedures. Tel-Aviv, Israel-based Kesselman & Kesselman, the Company's auditor since 2010, issued a 'going concern' qualification in its report dated March 12, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company has suffered recurring losses from operations and cash outflows from operating activities that raise substantial doubt about its ability to continue as a going concern. As of December 31, 2024, the Company had $46.8 million in total assets, $10.7 million in total liabilities, and $36.1 million in total stockholders' equity. IQERA: S&P Corrects LT ICR to 'D' Due to Safeguard Proceedings -------------------------------------------------------------- S&P Global Ratings corrected its long-term ratings by lowering them to 'D' (default) from 'SD' (selective default) and its issue ratings on the senior notes due February 2027 to 'D' from 'CC'. This correction is based on iQera entering into Accelerated Safeguard Proceedings under French law in December 2024. S&P said, "We understand the lack of discretion on the payment of financial obligations is consistent with our default definition in our criteria. "The ratings on iQera remain subject to the finalization of its financial restructuring, which we expect by May 28, 2025. "The correction reflects the impact of iQera's entry into accelerated safeguard proceedings under French law Dec. 23, 2024. We understand that the filing of these proceedings is consistent with our issuer credit ratings definition of 'D' because the company needs external approval to make payments on its financial obligations, and these are no longer solely at its discretion. On Feb. 15, 2025, the company stopped paying coupons on its EUR500 million bond due in September 2027, in line with the safeguard proceedings." On April 23, 2025, iQera received court approval for its accelerated safeguard plans, outlining the terms of its financial restructuring, which will reduce its bonds outstanding to EUR389 million from nearly EUR600 million through a partial debt-to-equity exchange. The remaining will be converted into a new note with a floating coupon and an extended maturity date of April 2030. Additionally, the revolving credit facility will be extended to April 2029. S&P said, "We expect iQera to finalize all transactions related to the financial restructuring by May 28, 2025. At that time, we will reevaluate the company's creditworthiness and revised capital structure." JAL HOLDINGS: Angela Shortall Named Subchapter V Trustee -------------------------------------------------------- The Acting U.S. Trustee for Region 4 appointed Angela Shortall of 3Cubed Advisory Services, LLC, as Subchapter V trustee for JAL Holdings, LLC. Ms. Shortall will be paid an hourly fee of $525 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Shortall declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Angela L. Shortall 3Cubed Advisory Services, LLC 111 S. Calvert St., Suite 1400 Baltimore, MD 21202 Phone: 410-783-6385 About JAL Holdings JAL Holdings, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 25-14107) on May 6, 2025, with $500,001 to $1 million in both assets and liabilities. Judge Michelle M. Harner presides over the case. Brett Weiss, Esq., at The Weiss Law Group, LLC represents the Debtor as bankruptcy counsel. JBSB DESTINY: Gets Final OK to Use Cash Collateral -------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Texas, Houston Division has issued a final order authorizing JBSB Destiny Enterprises Co. to use cash collateral. The final order authorized the company to use cash collateral, including regular business revenue, in accordance with its 30-day budget, which projects total operational expenses of $99,672. As protection, replacement liens were granted to Home Bank and other secured creditors on all post-petition cash collateral and assets excluding Chapter 5 causes of action. In addition, Home Bank will receive monthly payments, starting this month. The company's authority to use cash collateral terminates upon the occurrence of so-called events of default, including failure to comply with the terms of the order; use of cash collateral other than as agreed; dismissal or conversion of its Chapter 11 case to a proceeding under Chapter 7; and failure to pay post-petition tax liabilities. Home Bank is represented by: Kyle L. Dickson, Esq. 2200 Space Park Drive, Suite 350 Houston, TX 77058 Tel: (281) 488-0630 Fax: (281) 488-2039 Email: kdickson@murray-lobb.com About JBSB Destiny Enterprises Co. JBSB Destiny Enterprises Co. operates a Massage Heights franchise that offers licensed massage therapy and facial services. JBSB Destiny Enterprises Co. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-32566) on May 6, 2025. In its petition, the Debtor reported total assets of $50,006 and total debts of $1,056,900. Judge Jeffrey P. Norman handles the case. The Debtor is represented by Robert C. Lane, Esq. at The Lane Law Firm. JJ PFISTER: Lisa Holder Named Subchapter V Trustee -------------------------------------------------- The U.S. Trustee for Region 17 appointed Lisa Holder, Esq., a practicing attorney in Bakersfield, Calif., as Subchapter V trustee for JJ Pfister Distilling Company, LLC. Ms. Holder will be paid an hourly fee of $300 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Holder declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Lisa Holder, Esq. 3710 Earnhardt Drive Bakersfield, CA 93306 Phone: (661) 205-2385 Email: lholder@lnhpc.com About JJ Pfister Distilling Company JJ Pfister Distilling Company, LLC was a Sacramento-based craft distillery known for producing organic spirits including vodka, gin, rum, whiskey, and brandy. The company operated from a facility on Business Park Drive but ceased on-site operations in 2024. Its products remain available through select retailers and online distribution. JJ Pfister Distilling Company sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Calif. Case No. 25-22194) on May 2, 2025. In its petition, the Debtor reported estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. Judge Fredrick E. Clement handles the case. The Debtor is represented by Stephen Reynolds, Esq., at Reynolds Law Corporation. JONES REAL: Seeks to Hire Orville & McDonald Law as Legal Counsel ----------------------------------------------------------------- Jones Real Estate Properties, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of New York to employ Orville & McDonald Law, PC as counsel. The firm will provide these services: (a) advise the Debtor with respect to its powers and duties in the continued operation of its business and in the management of its property; (b) take necessary action to avoid liens against the Debtor's property, remove restraints against its property and such other actions to remove any encumbrances or liens which are avoidable, which were placed against its property prior to the filing of the petition instituting this proceeding and at a time when it was insolvent; (c) take necessary action to enjoin and stay until final decree herein any attempts by secured creditors to enforce liens upon property of the Debtor in which property it has substantial equity; (d) represent the Debtor in any proceedings which may be instituted in this court by creditors or other parties during the course of this proceeding; (e) prepare on behalf of the Debtor necessary legal papers; and (f) perform all other legal services for the Debtor or to employ attorneys for such services; The firm will be paid at these hourly rates: Peter Orville, Attorney $350 Zachary McDonald, Attorney $300 Non-Lawyer Staff $125 In addition, the firm will seek reimbursement for expenses incurred. The firm requested a retainer in the amount of $5,762 from the Debtor. Mr. Orville 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: Peter A. Orville, Esq. Orville & McDonald Law PC 30 Riverside Dr. Binghamton, NY 13905 Telephone: (607) 770-1007 About Jones Real Estate Properties Jones Real Estate Properties, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D.N.Y. Case No. 25-30378) on May 12, 2025, listing under $1 million in both assets and liabilities. Judge Wendy A. Kinsella oversees the case. Peter A. Orville, Esq., at Orville & McDonald Law PC serves as the Debtor's counsel. KEYSTONE PASSIONATE: Seeks to Tap Cunningham Chernicoff as Counsel ------------------------------------------------------------------ Keystone Passionate Care, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Pennsylvania to employ Cunningham, Chernicoff & Warshawsky, PC as counsel. The firm will provide these services: (a) give the Debtor legal advice regarding its powers and duties in the continued operation of its business and management of its property; (b) prepare and file on behalf of the Debtor the original Petition and Schedules, and all necessary legal papers; and (c) perform all other legal services for the Debtor which may be necessary. The firm will be paid at these hourly rates: Robert Chernicoff, Lead Counsel $450 Partners $400 - $450 Associate Attorneys $225 - $350 Paralegals $100 - $175 In the 90 day period prior to the filing of this petition, the Debtor paid the sum of $3,945 plus the Chapter 11 filing fee of $1,738. Mr. Chernicoff disclosed in a court filing that the firm is a "disinterested persons" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Robert E. Chernicoff, Esq. Cunningham, Chernicoff & Warshawsky, PC 2320 North Second Street P.O. Box 60457 Harrisburg, PA 17106-0457 Telephone: (717) 238-6570 About Keystone Passionate Care Keystone Passionate Care, LLC filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Pa. Case No. 25-01004) on April 11, 2025, listing under $1 million in both assets and liabilities. The Debtor tapped Cunningham, Chernicoff & Warshawsky, PC as counsel. LAID RIGHT: Seeks Approval to Hire J.M. Cook as Bankruptcy Counsel ------------------------------------------------------------------ Laid Right Site Development, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina to employ J.M. Cook, PA as counsel. The firm will render these services: (a) prepare on behalf of the Debtor legal papers necessary in its reorganization case; (b) assist the Debtor in evaluating the legal basis for, and effect of, the various pleadings that will be filed in its Chapter 11 case and other parties in interest; (c) perform all necessary legal services in connection with the Debtor's reorganization; (d) assist the Debtor in preparing the monthly operating reports and evaluating and negotiating or any other party's plan of reorganization and any associated disclosure statement; (e) commence and prosecute any and all necessary and appropriate actions and/or proceedings on behalf of the Debtor; and (f) perform all other legal services for the Debtor which may be necessary and proper in these proceedings and in keeping with its fiduciary duty. J.M. Cook, Esq., the primary attorney in this representation, will be paid $300 per hour for legal work and $175 per hour for paralegal work. Prior to filing, a related party deposited a $2,800 retainer with counsel on behalf of the Debtor. Mr. Cook 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: J.M. Cook, Esq. J.M. Cook, P.A. 5886 Faringdon Place, Suite 100 Raleigh, NC 27609 Telephone: (919) 675-2411 Facsimile: (919) 882-1719 Email: J.M.Cook@jmcookesq.com About Laid Right Site Development Laid Right Site Development, Inc. is a site development contractor specializing in grading and utility services. It operates in North Carolina, with locations in Jefferson and Sanford. Its services support infrastructure and construction projects across the region. Laid Right Site Development sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 25-01607) on April 30, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and up to $50,000 in liabilities. The Debtor is represented by JM Cook, Esq. at J.M. Cook, P.A. LAURCON LLC: Public Sale Auction Slated for July 8 -------------------------------------------------- CPIF MRA LLC ("secured party") will sell at public auction all limited liability company interests held by Jaw 2 Investment LLC and Laurcon LLC ("pledgor") in 393 Holdings LLC ("pledged entity"). The equity interests secure indebtedness owning the pledged entity to secured party in a principal amount of not less than $44,405,031.14 plus unpaid interests, attorneys' fees and other charges including the costs to sell the equity interests ("debt"). The public auction sale will be held at 10:00 a.m. ET on July 8, 2025 by virtual bidding via zoom via the following zoom meeting link: https://bit.ly/JawLaurcon, meeting ID: 859 0686 5329, Passcode: 999083 (or by telephone at +1 646 931 3860 US, using the same meeting ID and passcode. The public sale will be conducted by Eric Rubin of Moecker Auctions Inc. in conjunction with Matthew D. Mannion of Mannion Auctions LLC. Secured party's understanding, without making any representation or warranty as to accuracy of completeness, is that the principal asset of the pledged entity is a real property commonly known as the Pinewood-30A Condominiums and located at 179 S. County Highway 393, Santa Rosa, Florida 35459. Parties interested in bidding on the equity interests must contact Stephen Schwalb at Newmark, secured party's broker at +1 469-467-2084 or stephen.schwalb@nmrk.com. Upon execution of a standard non-disclossure agreement, additional documentation and information will be available. Interested parties who do not contact the broker and register before the public sale may not be permitted to participate in bidding at the public sale. Additional information can be found at https://tinyurlcom/UCCPinewood. LI-CYCLE HOLDINGS: Gets Chapter 15 Court Ok Amid Glencore Sale Bid ------------------------------------------------------------------ Alex Wittenberg of Law360 reports that a New York bankruptcy judge approved Chapter 15 recognition for lithium battery recycler Li-Cycle and its affiliates on Friday, May 23, 2025, rejecting an objection from the U.S. Trustee’s Office. The Toronto-based debtor aims to sell its business and secure additional funding. About Li-Cycle Holdings Corp. Li-Cycle Holdings Corp. is a Toronto-based company that focuses on lithium-ion battery resource recovery. Founded in 2016, the Company uses proprietary Spoke & Hub Technologies to recycle various types of lithium-ion batteries and recover critical battery-grade materials for reuse in the supply chain. Li-Cycle, formerly listed on the New York Stock Exchange under the symbol LICY, manages its Spokes and Rochester Hub operations, as well as its corporate governance and administrative services, from its Toronto headquarters. Li-Cycle Holdings Corp. and affiliates sought relief under Chapter 15 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 25-10991) on May 14, 2025. Honorable Bankruptcy Judge Philip Bentley handles the case. William E. Aziz is the Debtor's foreign representative. The Debtor is represented by Madlyn Gleich Primoff, Esq., Alexander Adams Rich, Esq., and Sarah R. Margolis, Esq. at FREHSFIELDS US LLP. LIBERATED BRANDS: Court Dismisses Chapter 11 Bankruptcy Case ------------------------------------------------------------ Kate Robertson and Tiffany Montgomery of Shop Eat Surf Outdoor reports that a Delaware bankruptcy judge has dismissed Liberated Brands' Chapter 11 case after the company raised approximately $65 million through asset sales—far short of what's needed to repay its debts, particularly to secured creditor JPMorgan Chase. Despite the asset sales, Liberated lacks the funds to cover its debtor-in-possession (DIP) financing or the adequate protection claims owed to asset-based lenders, both held by JPMorgan, according to Matthew Fagen, a restructuring partner at Kirkland & Ellis LLP, who spoke during a Thursday, May 22,2025, hearing. "Based on the value collected and what we expect to recover, there will not be enough proceeds to fully pay either the DIP claim or the ABL lenders' adequate protection claim," Fagen said. Of the $65 million total, roughly $27 million has yet to be collected. The company anticipates a $22.1 million shortfall on DIP claims and an additional $5 million deficit on ABL claims, according to Shop Eat Surf Outdoor. Fagen noted that Liberated considered converting the case to a Chapter 7 liquidation but decided against it due to concerns about increased costs and further reducing potential recoveries. Unsecured creditors, including vendors and service providers, will receive nothing. Among them is JobsRUs, a staffing and payroll company that provided critical warehouse support during the bankruptcy. The firm objected to the dismissal, seeking at least partial payment on more than $500,000 in unpaid invoices. However, it was informed there are no remaining funds available for distribution, the report states. James Carr of Kelley Drye & Warren LLP, counsel for the committee of unsecured creditors, attributed the shortfall to higher-than-expected costs and underperforming asset sales. He specifically pointed to the disappointing sale of international businesses, including operations in Australia and New Zealand, which fetched only about $5 million to $8 million—barely covering JPMorgan's sub-limit exposure. Carr also noted that litigation with Q4D, the new licensee of the Spyder brand, was more expensive than anticipated. JPMorgan supported the dismissal, calling it the most feasible course of action under the circumstances. In approving the dismissal, the judge acknowledged the difficult outcome for creditors. "This is not the preferred resolution, and I understand the financial hardship involved," she said. "But the record supports dismissal, and it meets the requirements set forth under the Bankruptcy Code." About Liberated Brands Liberated is in the sport, outdoor, and lifestyle apparel industry. Liberated offers its customers access to products under high-quality brands such as Volcom, Billabong, Quiksilver, Spyder, RVCA, Roxy, and Honolua, in its 124 retail locations across the United States and through other channels. As an omnichannel apparel licensee with deep-rooted and unique expertise in trend forecasting and brand development, Liberated has attracted loyal customers in more than 100 countries. Liberated operates regional headquarters in North America, Europe, Japan, and Australia. On Feb. 2, 2025, Liberated Brands LLC and eight affiliated debtors filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-10168). The cases are pending before Honorable Judge J. Kate Stickles. Liberated has tapped Kirkland & Ellis, LLP and Klehr Harrison Branzburg LLP to facilitate the Chapter 11 restructuring process. AlixPartners LLC is the Debtors' financial advisor. Stretto is the claims agent. JP Morgan has retained Morgan, Lewis & Bockius LLP and Berkeley Research Group, LLC. The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. LIFE INSURANCE: A.M. Best Cuts Fin. Strength Rating to B(Fair) -------------------------------------------------------------- AM Best has downgraded the Financial Strength Rating to B (Fair) from B+ (Good) and the Long-Term Issuer Credit Rating to "bb+" (Fair) from "bbb-" (Good) of Life Insurance Company of Louisiana (LICOL) (Shreveport, LA). The outlooks of these Credit Ratings (ratings) is stable. The ratings reflect LICOL's balance sheet strength, which AM Best assesses as strong, as well as its marginal operating performance, very limited business profile and appropriate enterprise risk management. Driving the downgrading of the ratings is the deterioration in the company's business profile metrics, which includes the lack of production in business growth. Also, competitive pressures and challenges within the credit life segment are contributing to very limited growth opportunities. In addition, the company's operations have seen added volatility that stems from supply chain issues in the auto industry. LICOL's absolute capital levels have continued steady despite operational pressures. Although risk-adjusted capitalization remains within the strongest category, as measured by Best's Capital Adequacy Ratio (BCAR), the low amount of absolute capital exposes the company to sharper swings in risk-adjusted capital levels. LIFTED TRUCKS: Monroe Capital Marks $1.6MM Secured Loan at 60% Off ------------------------------------------------------------------ Monroe Capital Corporation has marked its $1,667,000 loan extended to Lifted Trucks Holdings, LLC to market at $666,000 or 40% of the outstanding amount, according to Monroe's Form 10-Q for the fiscal year ended March 31, 2025, filed with the U.S. Securities and Exchange Commission. Monroe is a participant in a Senior Secured Loan to Lifted Trucks Holdings, LLC. The loan accrues interest at a rate of 9.67% per annum. The loan matures on August 2, 2027. Monroe Capital Corporation is an externally managed, non-diversified, closed-end management investment company and has elected to be regulated as a business development company (BDC) under the Investment Company Act of 1940. The Company's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through investment in senior secured, junior secured and unitranche secured debt and, to a lesser extent, unsecured subordinated debt and equity co-investments in preferred and common stock and warrants. Monroe is managed by Monroe Capital BDC Advisors, LLC, a registered investment adviser under the Investment Advisers Act of 1940, as amended. Monroe is led by Theodore L. Koenig as Chairman, Chief Executive Officer and Director, and Lewis W. Solimene, Jr. as Chief Financial Officer and Chief Investment Officer. The Company can be reach through: Theodore L. Koenig Monroe Capital Corporation 311 South Wacker Drive, Suite 6400 Chicago, IL 60606 Telephone: (312) 258-8300 About Lifted Trucks Holdings, LLC Lifted Trucks Holdings, LLC is a family owned and operated since 1995. It is a top-rated dealership, and America's premier custom truck dealer. LION ELECTRIC: Emerges from CCAA Proceedings With Sole Shareholder ------------------------------------------------------------------ The Lion Electric Company, a leading manufacturer of all-electric medium and heavy-duty urban vehicles, announced on May 23, 2025, the completion of the transactions contemplated by the previously announced definitive agreement dated May 15, 2025, entered into with a corporation newly incorporated for the sole purpose of completing the Transactions on behalf of a consortium comprised of Quebec based investors. The Definitive Agreement was entered into in connection with the Company's proceedings under the Companies' Creditor Arrangement Act (Canada) and the related sale and investment solicitation process conducted under the supervision of the Superior Court of Quebec (Commercial Division) and Deloitte Restructuring Inc., in its capacity as Court-appointed monitor of the Company and its subsidiaries. The Definitive Agreement and the transaction contemplated thereby were approved by the Court on May 22, 2025. Pursuant to the Transactions: (i) all of the issued and outstanding common shares of the Company, as well as any and all options, warrants and other instruments exercisable into, or convertible or exchangeable for, common shares of the Company, were ultimately cancelled for no consideration, (ii) certain excluded assets and excluded liabilities of the Company and its subsidiaries were vested-out and transferred to entities newly-incorporated for such purposes, and (iii) the Purchaser subscribed for a new class of common shares in the capital of the Company, as a result of which, upon closing of the transactions contemplated by the Definitive Agreement, the Purchaser became the sole shareholder of the Company. Following the completion of the Transactions, the Company and certain of its subsidiaries emerged from the CCAA Proceedings and ceased to be applicants thereunder. Upon closing of the Transaction, the ResidualCos became applicants in the CCAA Proceedings. It is expected that the ResidualCos will be liquidated and eventually would-up by way of bankruptcy proceedings. On May 15, 2025, the Autorite des marches financiers issued a partial revocation order in respect of the failure-to-file cease trade order issued on April 17, 2025, in respect of the securities of the Company, solely for the purpose of completing the Transactions with the Purchaser. Following completion of the Transactions, the Company intends to apply to cease to be a reporting issuer order in all of the provinces and territories of Canada and for a full revocation of the FFCTO. Related Party Transaction Disclosure The Purchaser is a "related party" of the Company as a result of Mr. Pierre Wilkie, a director of the Company, forming part of the consortium, and, accordingly, the Transactions constituted a "related-party transaction" under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). As a result of the Company being the subject of insolvency proceedings and the transactions contemplated by the Definitive Agreement not providing any recovery to holders of the Company's equity securities, and subject to the orders granted by the Court under the Reverse Vesting Order, the Company relied on the exemptions to the formal valuation and majority of the minority approval requirements provided under Section 5.5(f) and 5.7(d), respectively, of MI 61-101. Lion Electric is a Quebec-based company specialized in designing, developing, manufacturing and distributing purpose-built all-electric medium and heavy-duty urban vehicles. LIVEONE INC: FMR LLC Holds 6.2% Equity Stake as of March 31 ----------------------------------------------------------- FMR LLC, disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of March 31, 2025, it beneficially owned 5,997,721 shares of LiveOne Inc.'s common stock, representing 6.2% of the outstanding common stock. FMR LLC may be reached at: 245 Summer Street Boston, Massachusetts 02210 Tel: (310) 601-2505 A full-text copy of FMR's SEC report is available at: https://tinyurl.com/45f84j7u About LiveOne Headquartered in Beverly Hills, California, LiveOne, Inc. -- www.liveone.com -- is a creator-first, music, entertainment and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events. The Company is a pioneer in the acquisition, distribution and monetization of live music events, Internet radio, podcasting/vodcasting and music-related membership, streaming and video content. Through its comprehensive service offerings and innovative content platform, it provides music fans the ability to listen, watch, attend, engage and transact. Serving a global audience, the Company's mission is to bring the experience of live music and entertainment to consumers wherever music and entertainment is watched, listened to, discussed, deliberated or performed around the world. Los Angeles, Calif.-based Macias Gini & O'Connell LLP, the Company's auditor since 2022, issued a "going concern" qualification in its report dated July 1, 2024. The report cited that the Company has suffered recurring losses from operations, negative cash flows from operating activities and has a net capital deficiency. These matters raise substantial doubt about the Company's ability to continue as a going concern. As of Dec. 31, 2024, LiveOne reported $56.22 million in total assets, $55.09 million in total liabilities, and $1.13 million in total equity. LIVEONE INC: Raises $27.8M via Convertible Notes, Draws $16.8M -------------------------------------------------------------- LiveOne Inc. (LVO) secured $27.775 million in senior secured convertible notes financing, drawing $16.775 million on May 19, 2025, with the potential to access an additional $11 million contingent on meeting financial targets over the next 15 months. The notes convert to common stock at $2.10 per share. Proceeds were used in part to repay a loan from East West Bank and address short-term payables, with remaining funds earmarked for strategic growth initiatives. "This financing, with our long-term partner JGB Management, Inc., is a major milestone for LiveOne as we optimize our capital structure and focus on growth and profitability," said Robert Ellin, Chairman and CEO of LiveOne. "By eliminating our previous debt and securing fresh capital, we are now well-positioned to scale our platform, expand our B2B footprint and execute strategic acquisitions." About LiveOne Headquartered in Los Angeles, CA, LiveOne (Nasdaq: LVO) -- liveone.com -- is an award-winning, creator-first, music, entertainment, and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events. LiveOne's subsidiaries include Slacker, PodcastOne (Nasdaq: PODC), PPVOne, CPS, LiveXLive, DayOne Music Publishing, Drumify and Splitmind. LiveOne is available on iOS, Android, Roku, Apple TV, Spotify, Samsung, Amazon Fire, Android TV, and through STIRR's OTT applications. In an audit report dated July 1, 2024, Macias Gini & O'Connell LLP issued a "going concern" qualification citing that the Company has suffered recurring losses from operations, negative cash flows from operating activities and has a net capital deficiency. These matters raise substantial doubt about the Company's ability to continue as a going concern. LiveOne has a history of losses and incurred a net loss of $9.5 million for the nine months ended Dec. 31, 2024, and cash provided by operating activities of $10.6 million for the nine months ended Dec. 31, 2024 and had a working capital deficiency of $18.1 million as of Dec. 31, 2024. Per the Company's Form 10-Q for the period ended Dec. 31, 2024, its long-term ability to continue as a going concern is dependent upon its ability to increase revenue, reduce costs, achieve a satisfactory level of profitable operations, and obtain additional sources of suitable and adequate financing. Its ability to continue as a going concern also depends on its capacity to further develop and execute its business plan. The Company may also need to reduce certain overhead costs by lowering salaries and other expenses, and may seek to settle liabilities through negotiation. However, there is no assurance that management's efforts in any or all of these areas will be successful. MALIA REALTY: Gets Final OK to Use Cash Collateral -------------------------------------------------- Malia Realty, LLC received final approval from the U.S. Bankruptcy Court for the Northern District of Georgia to use cash collateral. The final order authorized the company to use the cash collateral of its lenders in accordance with its budget. The lenders including Newrez, LLC, Toorak Capital Partners, LLC and LendingOne, LLC may assert a security interest in the real property owned by the company in Atlanta, Ga. The revenue and rents from the property constitute the lenders' cash collateral. As protection, the lenders were granted a replacement lien on all property of the company except the proceeds of any avoidance actions under Chapter 5 of the Bankruptcy Code. In addition, the lenders will receive a monthly payment of $1,500 as further protection. About Malia Realty LLC Malia Realty LLC is a single asset real estate debtor (as defined in 11 U.S.C. Section 101(51B)). Malia Realty filed Chapter 11 petition (Bankr. N.D. Ga. Case No. 24-61684) on November 1, 2024, listing between $1 million and $10 million in both assets and liabilities. Judge Barbara Ellis-Monro oversees the case. The Debtor is represented by William Rountree, Esq., at Rountree, Leitman, Klein & Geer, LLC. Bradley Arant Boult Cummings, LLP represents the lenders, Newrez, LLC, Toorak Capital Partners, LLC and LendingOne, LLC. The firm can be reached through: Glenn E. Glover, Esq. Bradley Arant Boult Cummings, LLP 1819 Fifth Avenue North Birmingham, AL 35203 Telephone: (205) 521-8000 Facsimile: (205) 488-6647 Email: gglover@bradley.com MERCURITY FINTECH: Registers 6.3M Shares Under MFH Incentive Plan ----------------------------------------------------------------- Mercurity Fintech Holding Inc. filed a Registration Statement on Form S-8 with the U.S. Securities and Exchange Commission to register securities issuable pursuant to its MFH 2025 Equity Incentive Plan. The securities registered consist of up to 6,300,000 new ordinary shares, US$0.004 par value per share of the Company, which represent the number of Ordinary Shares available for issuance under the MFH 2025 Equity Incentive Plan. Pursuant to Rule 416(a) under the Securities Act of 1933, as amended, this Registration Statement also covers an indeterminate number of additional shares which may be offered and issued to prevent dilution from share splits, share subdivisions, share dividends, bonus issues of shares or similar transactions as provided in the MFH 2025 Equity Incentive Plan. Any Ordinary Shares covered by an award granted under the MFH 2025 Equity Incentive Plan (or portion of an award) that terminates, expires, lapses or repurchased for any reason will be deemed not to have been issued for purposes of determining the maximum aggregate number of Ordinary Shares that may be issued under the MFH 2025 Equity Incentive Plan. The Registration Statement also includes a reoffer prospectus that may be used for the offer and sale of "control securities," as such term is defined in General Instruction C to Form S-8, which have been or will be acquired pursuant to the Plan by officers and directors of the Company who may be deemed to be "affiliates" of the Company, as that term is defined in Rule 405 under the Securities Act, and "restricted securities", which are defined for purposes of General Instruction C to Form S-8 as securities issued under any employee benefit plan of the Company meeting the definition of "restricted securities" in Rule l44(a)(3), whether or not held by affiliates of the Company, acquired by the selling security holder prior to the filing of the registration statement. The reoffer prospectus contained herein has been prepared in accordance with the requirements of General Instruction C of Form S-8 and Part I of Form F-3. Full-text copy of the Registration Statement is available at: https://tinyurl.com/bdr4zraj About Mercurity Fintech Holding Inc. Mercurity Fintech Holding Inc. is a digital fintech company with subsidiaries engaged in distributed computing and financial brokerage. Beyond its core fintech operations, the Company contributes to the advancement of AI hardware technology by delivering secure and innovative solutions in intelligent manufacturing and advanced liquid cooling systems. Its focus on compliance, innovation, and operational efficiency supports its position as a trusted player in both the evolving digital finance space and the AI technology sector. For more information, please visit the Company's website at https://mercurityfintech.com. In an audit report dated April 30, 2025, the Company's auditor, Onestop Assurance PAC, issued a "going concern" qualification, citing that at Dec. 31, 2024, the Company has incurred recurring net losses of $4.5 million and negative cash flows from operating activities of $3.6 million and has an accumulated deficit of $680 million, which raise substantial doubt about its ability to continue as a going concern. As of Dec. 31, 2024, Mercurity Fintech Holding had $35.69 million in total assets, $11.60 million in total liabilities, and $24.09 million in total shareholders' equity. MIS COMMODITIES: Seeks to Tap Adam I. Skolnik as Bankruptcy Counsel ------------------------------------------------------------------- M.I.S. Commodities, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ the Law Office of Adam I. Skolnik, PA as counsel. The firm will provide these services: (a) advise the Debtor with respect to its powers and duties and in its relationship with its creditors, committees, the Office of the United States Trustee and other interested parties; (b) advise the Debtor with respect to its responsibilities in complying, with the U.S. Trustee's Operating Guidelines and Reporting Requirements, the requirements of the Bankruptcy Code, the Federal Rules of Bankruptcy Procedure, applicable bankruptcy rules; (c) assist the Debtor with the investigation and pursuit of property of the estate, sale of some or all of its assets, if needed; (d) assist the Debtor in the formulation and dissemination and approval of disclosure statement and plan; (e) prepare and review motions, pleadings, orders, applications, adversary proceedings, and other legal documents necessary in the administration of the case; (f) protect the interest of the Debtor in all matters pending before the court; (g) represent the Debtor in negotiation with its creditors in the preparation of a plan; and (h) perform all other necessary functions as attorney for the proper administration of the bankruptcy estate. The firm will be paid at these hourly rates: Adam Skolnik, Attorney $550 Paralegals $185 In addition, the firm will seek reimbursement for expenses incurred. Prior to petition date, the firm received $25,000 as retainer from the Debtor. Mr. Skolnik 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: Adam I. Skolnik, Esq. Law Office of Adam I. Skolnik, P.A. 1761 West Hillsboro Boulevard, Suite 201 Deerfield Beach, FL 33442 Telephone: (561) 265-1120 Facsimile: (561) 265-1828 Email: askolnik@skolniklawpa.com About M.I.S. Commodities M.I.S. Commodities, Inc. is an international marketer of food and agricultural products, connecting farmers and consumers through its trading and logistics expertise. The Company specializes in soft commodities, pulses, and select energy services and equipment. Headquartered in Geneva, with offices in Bach and Stamford, Connecticut, M.I.S. Commodities operates globally. M.I.S. Commodities sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-15027) on May 5, 2025. In the petition signed by Aitor Deurquiza, president, the Debtor disclosed up to $1 million in assets and up to $10 million in liabilities. Honorable Bankruptcy Judge Erik P. Kimball handles the case. The Debtor is represented by the Law Office of Adam I. Skolnik, PA. MODERN EYE: Gets Court OK to Use Cash Collateral ------------------------------------------------ The U.S. Bankruptcy Court for the Middle District of Tennessee has entered an agreed order authorizing Modern Eye Gallery, LLC to use cash collateral. The company is authorized to use the cash collateral of Pinnacle Bank to continue operations in the ordinary course of business. Pinnacle Bank holds a secured claim of $90,920.94 based on a 2015 loan. The debt is secured by valid liens in the Debtor's business assets, including accounts and general intangibles. As protection, Pinnacle Bank was granted a replacement lien on the company's post-petition property, including proceeds thereof, with the same priority as its pre-bankruptcy lien. If replacement liens are insufficient, the bank may seek a superpriority administrative expense claim under 11 U.S.C. Section 507(b). Pinnacle Bank will receive a monthly payment of $1,000 until a confirmed Chapter 11 Plan modifies this. The payments started in April. About Modern Eye Gallery Modern Eye Gallery, LLC is an optometry clinic owned and operated by Dr. John Kirby, (Dr. Kirby) who is the sole member of the LLC and a licensed optometrist. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Tenn. Case No. 25-00636) on February 14, 2025, listing up to $500,000 in assets and up to $1 million in liabilities. Glen Watson, Esq., at Watson Law Group, PLLC serves as Subchapter V trustee. Judge Nancy B. King oversees the case. Jay R. Lefkovitz, Esq., at Lefkovitz & Lefkovitz, PLLC, represents the Debtor as legal counsel. MUNAWAR LAW: Seeks Court Approval to Hire MI Tax as Accountant -------------------------------------------------------------- Munawar Law Group, PLLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ MI Tax LLC as accountants. The firm will prepare financial records, operating reports balance sheets, liquidation analysis and any other financial documents needed for the processing of this Chapter 11 bankruptcy. Mark Idrees, the firm's principal, will be paid at his normal billing rate of $300 per month plus additional $750 per court appearance. The hourly rates of the firm's professionals are as follows: Mark Idrees $125 Tahir Hameed $125 Maria Mojica $125 Mr. Idrees 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: Mark Idrees MI Tax LLC 320 Post Ave., Suite 108 Westbury, NY 11590 About Munawar Law Group Munawar Law Group PLLC is operating as a legal services firm with offices in New York City and Jericho, New York. Munawar Law Group PLLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-10020) on January 7, 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 David S. Jones handles the case. The Debtor tapped Ronald D. Weiss, Esq., as counsel and MI Tax LLC as accountants. MY SIZE: Spanish Unit Acquires Key Assets of Percentil for EUR610K ------------------------------------------------------------------ MySize, Inc. announced the acquisition by its newly-formed, wholly-owned subsidiary in Spain, New Percentil, S.L., of key assets of Percentil, a leading managed marketplace for second-hand fashion, with operations across Spain, France, Germany, and Italy, following insolvency proceedings in Spain of Percentil's former owner. Founded to promote sustainable fashion through high-quality second-hand items, Percentil grew into a premium re-commerce player. Its managed marketplace model ensures product quality and drives higher resale values and much better buyer and seller experiences, which is expected to outperform peer platforms like Vinted and other fast fashion resellers in profitability and customer retention. Strategy Shift with Profitability at the Core Following the acquisition, MySize intends to reposition the platform as a premium marketplace, marking a strategic evolution focused on higher-value items and a premium re-commerce experience. This pivot reflects consumer demand for quality, authenticity, and elevated resale experiences -- and supports the platform's push toward a sustainable business model based on increased margins and long-term brand equity. "Our goal with Percentil is clear: build a profitable, scalable, and sustainable circular fashion business from day one," said Ronen Luzon, CEO of MySize, Inc. "This is not about growth at all costs. We are focused on smart, cash-efficient scaling -- with a model that generates EBITDA-positive returns from the very beginning." A Strategic Acquisition The deal has the potential to be a profitable investment for MySize, with a total transaction value of just approximately EUR610,000 (approximately $679,000), consisting of a €40,000 (approximately $44,500) cash payment made by one of MySize's wholly-owned subsidiaries and the assumption of certain customer and labor liabilities and debt and social security payments in the aggregate amount of approximately €570,000 (approximately $634,500). The acquisition was financed through existing cash reserves and does not involve the issuance of additional shares or debt. MySize expects the Percentil business unit to generate $1.5 million in revenues in the second half of 2025. This represents a projected 25% increase to MySize's total revenue and a step-function improvement in group profitability. "We believe this to be a strategically sound and financially compelling acquisition," said Ronen Luzon, CEO of MySize, Inc. "With a minimal upfront investment, we believe that we've secured a revenue-generating business with deep logistics capabilities, a growing customer base, and a model that's profitable. We believe that Percentil's integration accelerates our entry into the circular economy while strengthening the financial foundations of our group." Unlocking Circularity as a Service Through this acquisition, MySize is launching a B2B resale solution ('Circularity as a Service') that enables brands to monetize overstock and returns by integrating with Percentil's platform. This scalable offering enables fashion brands to resell returned, overstock, or pre-owned garments. MySize believes that initial pilots that Percentil has completed with Springfield (Tendam Group) and C&A validate the model's demand among major retailers seeking to comply with new EU legislation requiring formal reuse plans for garments. The monetization model is SaaS-based, providing recurring revenue streams and potentialhigh-margin scalability. The total addressable market (TAM) for second-hand and circular fashion in Western Europe alone is estimated to exceed $25 billion by 2027, according to sources, such as ThredUp's 2024 Resale Market Report and Statista's projections for the European secondhand apparel market.[1] The addition of Percentil creates clear synergies with existing MySize portfolio companies: * Naiz Fit provides brands with size and fit solutions to reduce returns, while enabling better sizing data to support re-commerce. Also, Naiz Fit offers a B2B SaaS platform solution to easily connect to MySize companies to unlock all their capabilities. * Orgad, MySize's e-commerce and logistics unit, will partner with Percentil to optimize overstock and returns, making second life retail economically and operationally viable. In addition, MySize's proprietary AI technology, which powers solutions like MySizeID and Naiz Fit, will be integrated into Percentil's platform to optimize pricing, enhance product recommendations, personalize user journeys, and improve operational efficiency. This AI-driven backbone is expected to elevate customer satisfaction, reduce churn, and streamline inventory management - delivering competitive advantages across the resale funnel. What's Included in the Acquisition MySize acquired select assets of Percentil's operational structure out of bankruptcy, including: * 17 employees, including the former CEO and CMO * The central warehouse and its proprietary quality control and picking systems * AI-powered pricing engine and proprietary garment assessment tools and processes * A stock of over 120,000 quality-vetted garments ready to scale up sales Positioned for Growth and Supported by EU Regulatory Tailwinds This acquisition is also strategically timed to align with major upcoming European Union regulations. Under the EU Strategy for Sustainable and Circular Textiles, brands will soon be required to implement reuse, recycling, and waste-reduction frameworks as part of their environmental responsibilities. This creates a powerful tailwind for recommerce platforms like Percentil, potentially positioning it as an essential partner for fashion brands navigating regulatory compliance while meeting growing consumer demand for sustainability. "With the EU leading global efforts in textile circularity, we see second-hand platforms evolving from niche alternatives into critical infrastructure for the fashion industry," Luzon added. "Percentil gives us a front-row seat in this transformation." About MySize, Inc. Airport City, Israel-based My Size, Inc. (NASDAQ: MYSZ) -- http://www.mysizeid.com/-- is an omnichannel e-commerce platform and provider of AI-driven measurement solutions that drive revenue growth and reduce costs for online retailers while generating big data and machine learning analytics. Tel Aviv, Israel-based Somekh Chaikin, the Company's auditor since 2017, issued a "going concern" qualification in its report dated Mar. 27, 2025, citing that the Company has incurred significant losses and negative cash flows from operations and has an accumulated deficit that raise substantial doubt about its ability to continue as a going concern. As of Dec. 31, 2024, the Company had $10.1 million in total assets, $3.2 million in total liabilities, and a total stockholders' equity of $6.9 million. NAKED JUICE: S&P Raises ICR to 'CCC', Outlook Negative ------------------------------------------------------ S&P Global Ratings raised its issuer credit rating on Naked Juice LLC to 'CCC' from 'D'. S&P said, "We assigned our 'B-' issue-level rating to the first-lien first-out term loan, with a recovery rating of '1' (90%-100%; rounded estimate: 95%); our 'CCC' issue-level rating to the mixed first-lien first-out/first-lien second-out revolving credit facility with a recovery rating of '4' (30%-50%; rounded estimate: 30%); our 'CCC-' issue-level rating to the first-lien second-out term loan with a recovery rating of '5' (10%-30%; rounded estimate: 20%); and our 'CC' issue-level rating to the first-lien third-out term loan with a recovery rating of '6' (0%-10%; rounded estimate: 0%). At the same time, we withdrew our ratings on the company's existing revolving credit facility and first- and second-lien term loans." The negative outlook reflects high likelihood of a default, including a debt restructuring, within the next 12 months. The upgrade follows Naked Juice's completion of a liability management exercise that infused liquidity and relaxed covenants, adding flexibility to manage through continued operating shortfalls in 2025. The transaction included the issuance of a $519 million first-lien, first-out term loan, which comprises $400 million of new money that the company used to repay outstanding revolver borrowings. Additionally, the company captured about $360 million in discounts from the exchange of its existing first- and second-lien debt by 99% of the company's existing first-lien lenders and 85% of its existing second-lien lenders at varying discounts to par. This created a new capital structure with several tranches of debt including first-out ($519 million), second-out ($1.4 billion), and third-out ($635 million) debt. PepsiCo, PAI, and Naked Juice's revolving credit facility lenders exchanged their debt at par into the third-out tranche. The transaction temporarily alleviates near-term liquidity concerns since it now has $300 million of availability on its revolver, providing liquidity to cover continued cash flow deficits in 2025. In 2024, the company's S&P Global Ratings-adjusted EBITDA declined to $3 million from $324 million the previous year, largely due to significant increases in the cost of orange juice and an enterprise resource planning (ERP) disruption. This resulted in only $18 million available on its previous $350 million revolving credit facility at 2024 year-end. Additionally, it extended the maturity on its revolver to December 2028 from January 2027. The company has also temporarily paused testing on its 8.1x maximum first-lien net leverage ratio until the fourth quarter of 2026; it must adhere to a minimum $50 million liquidity covenant, which S&P anticipates it will comply with until the first half of 2026. The rating reflects S&P's view that Naked Juice's liquidity will remain constrained, potentially leading to another default within the next 12 months. This is predicated on continued weak performance driven by several factors including: -- Elevated orange costs in the first half of 2025, -- Declining volumes due to waning consumer demand for the Naked brand, -- The organization's history of significant operating disruptions and ongoing one-time costs, and -- Increased price sensitivity as the company raises prices on Tropicana products. The company continues to face significant one-time costs related to its ERP implementation following its separation from PepsiCo, and various management, consulting, and transaction fees. It was our understanding that one-time costs would lessen in 2024 since the global ERP cutover occurred in the first quarter, which was not the case. Interest expenses and working capital outflows further strain liquidity, though these pressures are modestly offset by reduced capital expenditures (capex) and interest that can be paid-in-kind (PIK). S&P said, "As a result, we project negative FOCF of approximately $344 million in 2025--a $20 million improvement over 2024. We also expect the company to draw about $215 million on its revolving credit facility, leaving total available liquidity at roughly $135 million by year-end." S&P said, "We expect a modest improvement in EBITDA in 2025, reflecting the resolution of the ERP disruption experienced in 2024 and the implementation of higher pricing on Tropicana products to offset increased orange juice costs. However, elevated orange costs are likely to continue pressuring gross margin, and we expect operating expenses to remain high. That said, we anticipate a reduction in marketing and advertising spending, given the absence of new product innovations in 2025 and the lack of volume recovery--particularly for the Naked brand--despite elevated spending in 2024. Looking ahead to 2026, we forecast further improvement in EBITDA and cash flow, though performance will likely remain weak. With continued negative FOCF in the first half of 2026, we believe the company may face a liquidity shortfall, potentially leading to another distressed debt restructuring or a traditional payment default in the first half of 2026. Additionally, we maintain our view that the capital structure is unsustainable, with S&P Global Ratings-adjusted leverage exceeding 20x and EBITDA-to-cash interest coverage at just 0.3x as of Dec. 31, 2025." The business experiences signficant volatility that could rapidly erode its profits. This is due to the more than $300 million decline in EBITDA experienced in 2024. This sharp decline was largely attributed to orange juice inflation, increasing over 40% during the year, which management was not able to offset through pricing. Furthermore, it purchases orange juice from its Brazilian supplier, CitrusSuco, and has limited ability to source from elsewhere if the crop is weak. Additionally, its cost arrangement with CitrusSuco appears to have offered limited protection against inflation in 2024. The Brazilian crop in 2024-2025 saw its worst harvest in 30 years due to adverse weather conditions, making unfavorable weather patterns also a key risk for the industry. The greening disease continues to be a risk for the industry in sourcing adequate supply of oranges as well. S&P said, "Furthermore, we believe its operating efficiency is weak given the ongoing challenges related to its separation from PepsiCo and ERP implementation, resulting in still-high onetime costs. The company was unable to offset higher costs in 2024 because of significant ERP blackouts, which limited management's visibility into its cost structure and ability to increase prices to its customers. While we believe the ERP disruption has been largely resolved, and should lead to EBITDA improvement in 2025, we cannot rule out the possibility of future disruptions." Brand equity has declined, particularly in the Naked Juice Brand. This is demonstrated by the substantial impairments recorded--$1.5 billion in 2024 and $700 million in 2023. S&P said, "We believe the product is out of favor among consumers due to intensifying competition in the nutritional snacking category, and unfavorable product launches that did not resonate well with consumers. Despite its efforts to revitalize the Naked Juice brand through innovation such as lower-sugar and higher-protein offerings, which are trendy with consumers, volumes continued to decline. Although the Naked Juice brand represents less than 20% of total net revenues, it has a greater margin impact since it is a premium product. Increased marketing and advertising also failed to reverse volume declines, reinforcing our view that brand reputation has declined." While Tropicana remains the leader in the orange juice category, its pricing power is under pressure. Consumer backlash from downsized packaging, which the company introduced in 2024 to improve its margins, led to reduced order volumes in 2024. This is a continuing risk given S&P expects price increases in 2025 to offset the higher cost of orange juice which will likely lead to further volume declines. However, its competition is also downsizing packaging. Furthermore, the company's strategy to diversify beyond the declining orange juice segment has yet to yield meaningful results, as recent Tropicana extensions, such as its lemonade line, appear to have gained limited market traction. Transparency from management is weak and several significant performance deteriorations since its separation from PepsiCo signals poor forecasting ability, which tempers our view of the magnitude of any rebound in 2025. As a result, S&P thinks its operating performance and cash flow will remain weak, resulting in another potential default scenario within the next 12 months. The lack of transparency is demonstrated by delayed disclosure of critical information. Furthermore, the ERP disruptions contributed to a significant deterioration in creditworthiness, indicating poor risk management practices. These issues, compounded by leadership turnover and significant operational disruptions, warrant a negative management and governance score. The negative outlook reflects an increased likelihood of a default, including another debt restructuring, within the next 12 months. S&P could lower its rating on Naked Juice if a default, including another distressed exchange, appears inevitable within the subsequent six months. This could happen if: -- Naked Juice's operating performance does not improve, and the company is unable to meet its debt service obligations; or -- S&P expects the company to pursue another form of debt restructuring that could be considered a default under its criteria. S&P could raise its rating if it no longer envisions a default within the next 12 months. This could occur if operating performance and cash flow strengthen more than its expectations, leading to greater availability on its revolver in 2025 and 2026. NEUROONE MEDICAL: AWM Investment Holds 4.8% Stake as of March 31 ---------------------------------------------------------------- AWM Investment Company, Inc., disclosed in a Schedule 13G (Amendment No. 4) filed with the U.S. Securities and Exchange Commission that as of March 31, 2025, it beneficially owned 2,354,167 shares of NeuroOne Medical Technologies Corp's Common Stock, representing 4.8% of the shares outstanding. AWM Investment Company, Inc. may be reached through: Adam Stettner, Executive Vice President 527 Madison Avenue, Suite 2600 New York, NY 10022 Tel: 212-319-6670 A full-text copy of AWM Investment's SEC report is available at: https://tinyurl.com/3y3um24h About NeuroOne Medical Technologies Headquartered in Eden Prairie, MN, NeuroOne Medical Technologies Corporation -- nmtc1.com -- is a medical technology company focused on (i) diagnostic, ablation and deep brain stimulation technology for brain related conditions such as epilepsy and Parkinson's disease; (ii) ablation and stimulation for pain management throughout the body; and (iii) drug delivery including diagnostic and stimulation capabilities. The Company is developing and commercializing thin film electrode technology for continuous electroencephalogram ("cEEG") and stereoelectrocencephalography ("sEEG"), spinal cord stimulation, brain stimulation, drug delivery and ablation solutions for patients suffering from epilepsy, Parkinson's disease, dystonia, essential tremors, chronic pain due to failed back surgeries and other pain-related neurological disorders. The Company is also developing the capability to use its sEEG electrode technology to deliver drugs or gene therapy while being able to record brain activity before, during, and after delivery. Additionally, the Company is investigating the potential applications of its technology associated with 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 Dec. 31, 2024, NeuroOne had $6.49 million in total assets, $3.56 million in total liabilities, and $2.94 million in total stockholders' equity. NEUROONE MEDICAL: Fails to Meet Nasdaq Bid Price Requirement ------------------------------------------------------------ NeuroOne Medical Technologies Corporation disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that it received a letter from the Listing Qualifications Department of the Nasdaq Stock Market notifying the Company that because the closing bid price of the Company's common stock was below $1.00 per share for the 30 consecutive business days prior to May 6, 2025, the Company is not in compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Marketplace Rule 5550(a)(2). In accordance with Nasdaq Marketplace Rule 5810(c)(3)(A), the Company has a period of 180 calendar days from May 6, 2025, or until November 3, 2025, to regain compliance with the Minimum Bid Price Requirement. If at any time before November 3, 2025, the closing bid price of the Company's common stock closes at or above $1.00 per share for a minimum of 10 consecutive business days (which number days may be extended by Nasdaq), Nasdaq will provide written notification that the Company has achieved compliance with the Minimum Bid Price Requirement, and the matter would be resolved. The Notice also disclosed that in the event the Company does not regain compliance with the Rule by November 3, 2025, the Company may be eligible for additional time. To qualify for additional time, the Company would be required to meet the applicable market value of publicly held shares requirement for continued listing and all other applicable standards for initial listing on The Nasdaq Capital Market, with the exception of the bid price requirement, and would need to provide written notice of its intention to cure the deficiency during the second compliance period. If the Company meets these requirements, Nasdaq will inform the Company that it has been granted an additional 180 calendar days. However, if it appears to the Staff that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, Nasdaq will provide notice that the Company's securities will be subject to delisting. The Company intends to continue actively monitoring the closing bid price for the Company's common stock between May 6, 2025 and November 3, 2025, and will consider available options to resolve the deficiency and regain compliance with the Minimum Bid Price Requirement. If the Company does not regain compliance within the allotted compliance period, including any extensions that may be granted by Nasdaq, Nasdaq will provide notice that the Company's common stock will be subject to delisting. The Company would then be entitled to appeal that determination to a Nasdaq hearings panel. There can be no assurance that the Company will regain compliance with the Minimum Bid Price Requirement during the 180-day compliance period, secure a second period of 180 calendar days to regain compliance, or maintain compliance with the other Nasdaq listing requirements. About NeuroOne Medical Technologies Headquartered in Eden Prairie, MN, NeuroOne Medical Technologies Corporation -- nmtc1.com -- is a medical technology company focused on (i) diagnostic, ablation and deep brain stimulation technology for brain related conditions such as epilepsy and Parkinson's disease; (ii) ablation and stimulation for pain management throughout the body; and (iii) drug delivery including diagnostic and stimulation capabilities. The Company is developing and commercializing thin film electrode technology for continuous electroencephalogram ("cEEG") and stereoelectrocencephalography ("sEEG"), spinal cord stimulation, brain stimulation, drug delivery and ablation solutions for patients suffering from epilepsy, Parkinson's disease, dystonia, essential tremors, chronic pain due to failed back surgeries and other pain-related neurological disorders. The Company is also developing the capability to use its sEEG electrode technology to deliver drugs or gene therapy while being able to record brain activity before, during, and after delivery. Additionally, the Company is investigating the potential applications of its technology associated with 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 Dec. 31, 2024, NeuroOne had $6.49 million in total assets, $3.56 million in total liabilities, and $2.94 million in total stockholders' equity. NORDIC CLIMATE: FS KKR Marks $156.9-Mil. 1L Loan at 90% Off ----------------------------------------------------------- FS KKR Capital Corp. (FSK) has marked its $165,900,000 loan extended to Nordic Climate Group Holding AB to market at $15,600,000 or 10% of the outstanding amount, according to Saratoga FSK's Form 10-K for the fiscal year ended March 31, 2025, filed with the U.S. Securities and Exchange Commission. FSK is a participant in a First Lien Senior Secured Loan to Nordic Climate Group Holding AB. The loan accrues interest at a rate of 5.7% per annum. The loan matures on June 2031. FSK was incorporated under the general corporation laws of the State of Maryland on December 21, 2007 and formally commenced investment operations on January 2, 2009. The Company is an externally managed, non-diversified, closed-end management investment company that has elected to be regulated as a business development company, or BDC, under the Investment Company Act of 1940. The Company has various wholly-owned subsidiaries, including special-purpose financing subsidiaries and subsidiaries through which it holds interests in portfolio companies. FSK is led by Michael C. Forman as Chief Executive Officer, Steven Lilly as Chief Financial Officer, and William Goebel as Chief Accounting Officer. The Fund can be reach through: Michael C. Forman FS KKR Capital Corp. 201 Rouse Boulevard Philadelphia, PA 19112 Telephone: (215) 495-1150 About Nordic Climate Group Holding AB Nordic Climate Group Holding AB is engaged in providing commercial and professional services in the U.S. NORDIC CLIMATE: FS KKR Marks $173.6-Mil. 1L Loan at 90% Off ----------------------------------------------------------- FS KKR Capital Corp. (FSK) has marked its $173,600,000 loan extended to Nordic Climate Group Holding AB to market at $17,300,000 or 10% of the outstanding amount, according to Saratoga FSK's Form 10-K for the fiscal year ended March 31, 2025, filed with the U.S. Securities and Exchange Commission. FSK is a participant in a First Lien Senior Secured Loan to Nordic Climate Group Holding AB. The loan accrues interest at a rate of 5.80% per annum. The loan matures on June 2031. FSK was incorporated under the general corporation laws of the State of Maryland on December 21, 2007 and formally commenced investment operations on January 2, 2009. The Company is an externally managed, non-diversified, closed-end management investment company that has elected to be regulated as a business development company, or BDC, under the Investment Company Act of 1940. The Company has various wholly-owned subsidiaries, including special-purpose financing subsidiaries and subsidiaries through which it holds interests in portfolio companies. FSK is led by Michael C. Forman as Chief Executive Officer, Steven Lilly as Chief Financial Officer, and William Goebel as Chief Accounting Officer. The Fund can be reach through: Michael C. Forman FS KKR Capital Corp. 201 Rouse Boulevard Philadelphia, PA 19112 Telephone: (215) 495-1150 About Nordic Climate Group Holding AB Nordic Climate Group Holding AB is engaged in providing commercial and professional services in the U.S. NORDIC CLIMATE: FS KKR Marks $53.5-Mil. 1L Loan at 90% Off ---------------------------------------------------------- FS KKR Capital Corp. (FSK) has marked its $53,500,000 loan extended to Nordic Climate Group Holding AB to market at $5,200,000 or 10% of the outstanding amount, according to Saratoga FSK's Form 10-K for the fiscal year ended March 31, 2025, filed with the U.S. Securities and Exchange Commission. FSK is a participant in a First Lien Senior Secured Loan to Nordic Climate Group Holding AB. The loan accrues interest at a rate of 5.80% per annum. The loan matures on June 2031. FSK was incorporated under the general corporation laws of the State of Maryland on December 21, 2007 and formally commenced investment operations on January 2, 2009. The Company is an externally managed, non-diversified, closed-end management investment company that has elected to be regulated as a business development company, or BDC, under the Investment Company Act of 1940. The Company has various wholly-owned subsidiaries, including special-purpose financing subsidiaries and subsidiaries through which it holds interests in portfolio companies. SLR is led by Michael C. Forman as Chief Executive Officer, Steven Lilly as Chief Financial Officer, and William Goebel as Chief Accounting Officer. The Fund can be reach through: Michael C. Forman FS KKR Capital Corp. 201 Rouse Boulevard Philadelphia, PA 19112 Telephone: (215) 495-1150 About Nordic Climate Group Holding AB Nordic Climate Group Holding AB is engaged in providing commercial and professional services in the U.S. NORTH MISSISSIPPI: Hires Jorgenson Broadcast Brokerage as Broker ---------------------------------------------------------------- North Mississippi Media Group, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Mississippi to employ Jorgenson Broadcast Brokerage, Inc. as broker. The Debtor needs a broker to sell its property. The broker will receive a commission of 5 percent of the property's sales price. Mark Jorgenson, the president of Jorgenson Broadcast Brokerage, 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: Mark Jorgenson Jorgenson Broadcast Brokerage, Inc. 426 River Rd. Tryon, NC 28782 Telephone: (828) 859-6982 About North Mississippi Media North Mississippi Media Group, LLC was formed in 2016 and is the operator of radio station 95.3 WEBL, and 100.1 FM (translator W261CE). The Debtor filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Miss. Case No. 24-12920) on Sept. 20, 2024, listing $1,000,001 to $10 million in both assets and liabilities. The Debtor tapped Craig M. Geno, Esq., at Law Offices of Craig M. Geno, PLLC as bankruptcy counsel and Anne Goodwin Crump, Esq., at Fletcher, Heald & Hildreth, PLC as special counsel. ODYSSEY MARINE: Regains Nasdaq Bid Price Compliance --------------------------------------------------- Odyssey Marine Exploration, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that on May 7, 2025, it was notified by the listing qualifications staff of the Nasdaq Capital Market of its determination that the Company had not regained compliance with Nasdaq Listing Rule 5550(a)(2) and was not eligible for a second 180-day period within which to regain compliance. The listing staff further notified the Company that, unless the Company requested an appeal of determination by May 14, 2025, the Company's securities would be scheduled for delisting from Nasdaq and suspended at the opening of business on May 16, 2025, and that Nasdaq would file a Form 25-NSE with the Securities and Exchange Commission, which would remove the Company's securities from listing and registration on Nasdaq. On May 9, 2025, the Company was notified by the listing qualifications staff of Nasdaq that the Company complies with Nasdaq Listing Rule 5550(a)(2) The listing qualifications staff had notified the Company on November 4, 2024, that it did not comply with the $1.00 minimum bid price requirement for 30 consecutive business days, as required under Nasdaq Listing Rule 5550(a)(2) for the Nasdaq Capital Market, and on May 7, 2025, that it had not regained compliance prior to the 180-day deadline and therefore would be scheduled for delisting from Nasdaq unless the Company appealed the determination. Because the closing bid price of the Company's common stock has been at $1.00 per share or greater for the 10 consecutive business days, from April 25 to May 8, 2025, the staff has determined that the Company complies with the Rules and this matter is now closed. About Odyssey Marine Odyssey Marine Exploration, Inc. and its subsidiaries are engaged in deep-ocean exploration. Their innovative techniques are currently applied to mineral exploration and other marine survey and contracted services. The corporate headquarters are in Tampa, Florida. Tampa, Fla.-based Grant Thornton LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 31, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company incurred a loss from operations of $12 million during the year ended December 31, 2024, and as of that date, the Company's current liabilities exceeded its current assets by $16 million and its total liabilities exceeded its total assets by $79 million. These conditions, along with other matters, raise substantial doubt about the Company's ability to continue as a going concern. ONDAS HOLDINGS: Below $1 Nasdaq Minimum, Faces Delisting Risk ------------------------------------------------------------- Ondas Holdings Inc. disclosed in a Form 8-K filing with the Securities and Exchange Commission that it received a notification from Nasdaq on May 16, 2025, stating that its stock had closed below the $1.00 minimum bid price for 30 consecutive business days, putting it out of compliance with Nasdaq Listing Rule 5550(a)(2). In line with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been granted an initial 180-calendar-day period, ending on Nov. 12, 2025, to restore compliance. The Nasdaq Staff Deficiency Letter states that the Nasdaq staff will provide written notification that the Company has achieved compliance with Rule 5550(a)(2) if at any time before Nov. 12, 2025, the bid price of the Company's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days. The Nasdaq Staff Deficiency Letter has no immediate effect on the listing or trading of the Company's common stock. The Company intends to continue actively monitoring the bid price for its shares of common stock between now and the expiration of the Compliance Period and will consider all available options to resolve the deficiency with every intention to regain compliance with the Minimum Bid Price Requirement. Should the Company fail to meet compliance with Rule 5550(a)(2) within the initial compliance period, it may qualify for an additional 180-calendar-day extension. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for Nasdaq, with the exception of the bid price requirement, and would need to provide written notice of its intention to cure the deficiency during the second compliance period, for example, by effecting a reverse stock split, if necessary. However, if it appears to the Nasdaq staff that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, Nasdaq would notify the Company that its securities would be subject to delisting. In the event of such a notification, the Company may appeal the Nasdaq staff's determination to delist its securities. There can be no assurance that the Company will be eligible for the additional 180 calendar day compliance period, if applicable, or that the Nasdaq staff would grant the Company's request for continued listing subsequent to any delisting notification. About Ondas Holdings Ondas Holdings Inc., headquartered in Boston, Massachusetts, provides private wireless data solutions through its subsidiary Ondas Networks Inc. and commercial drone solutions via Ondas Autonomous Systems Inc. The Company offers software-based wireless broadband technology, including the FullMAX platform for mission-critical IoT applications, and develops autonomous drone systems such as the FAA-certified Optimus System and Iron Drone Raider. Its subsidiaries, American Robotics and Airobotics, have secured FAA certifications for automated drone operations, serving sectors like defense, public safety, and infrastructure. In an audit report dated March 12, 2025, the Company's auditor, Rosenberg Rich Baker Berman, P.A., issued a "going concern" qualification, citing that the Company has experienced recurring losses from operations, negative cash flows from operations and a working capital deficit as of Dec. 31, 2024. Ondas Holdings has incurred losses since inception and has funded its operations primarily through debt and the sale of capital stock. As of March 31, 2025, the Company had an accumulated deficit of approximately $250,504,000. As of March 31, 2025, it had net long-term borrowings outstanding of approximately $2,558,000 and short-term borrowings outstanding of approximately $38,732,000, net of debt discount and issuance costs of approximately $3,855,000, including accrued interest of approximately $2,178,000, of which approximately $230,000 is due to related parties. As of March 31, 2025, the Company had cash and restricted cash of approximately $25,410,000 and a working capital deficit of approximately $7,021,000. The Company had approximately $6,659,000 of net cash flows used in operations for the three months ended March 31, 2025. "We expect to fund our operations for the next twelve months from the filing date of this Quarterly Report on Form 10-Q from the cash on hand as of March 31, 2025, gross profits generated from revenue growth, potential prepayments from customers for purchase orders, potential proceeds from warrants issued and outstanding, and additional funds that we may seek through equity or debt offerings and/or borrowings under additional notes payable, lines of credit or other sources. There is substantial doubt that the funding plans will be successful and therefore the conditions discussed above have not been alleviated. As a result, there is substantial doubt about the Company's ability to continue as a going concern for one year from May 15, 2025, the date the unaudited Condensed Consolidated Financial Statements were available for issuance," the Company said in a Form 10-Q filed with the SEC. ONDAS HOLDINGS: Stockholders Back All 5 Proposals at Annual Meeting ------------------------------------------------------------------- Ondas Holdings Inc. held its 2025 Annual Meeting of Stockholders, during which stockholders: Proposal 1: Elected Eric A. Brock, Richard M. Cohen, Joseph Popolo, Randall P. Seidl, Jaspreet Sood, and Ron Stern as directors, each for a term expiring at the next annual meeting or until their successors are duly elected and qualified. Proposal 2: Ratified the selection of Rosenberg Rich Baker Berman, P.A. as the Company's independent certified public accountants for the fiscal year ending December 31, 2025. Proposal 3: Obtained advisory approval of the Company's executive compensation. Proposal 4: Approved an amendment to the Company's Amended and Restated Articles of Incorporation to increase the number of authorized shares of common stock from 300,000,000 to 400,000,000. Proposal 5: Approved an amendment to the Ondas Holdings Inc. 2021 Stock Incentive Plan, as amended to increase the number of shares of the Company's common stock, par value of $0.0001 per share, authorized for issuance under the 2021 Plan from 11,000,000 shares of Common Stock to 26,000,000 shares of Common Stock. The Board of Directors adopted the Plan Amendment on April 10, 2025, subject to stockholder approval. About Ondas Holdings Marlborough, Mass.-based Ondas Holdings Inc. provides private wireless data solutions through its subsidiary, Ondas Networks Inc., and commercial drone solutions through Ondas Autonomous Systems Inc. (OAS), which includes wholly owned subsidiaries American Robotics, Inc. and Airobotics LTD. OAS focuses on the design, development, and marketing of autonomous drone solutions, while Ondas Networks specializes in proprietary, software-based wireless broadband technology for both established and emerging commercial and government markets. Together, Ondas Networks, American Robotics, and Airobotics deliver enhanced connectivity, situational awareness, and data collection capabilities to users in defense, homeland security, public safety, and other critical industrial and government sectors. In an audit report dated March 12, 2025, the Company's auditor, Rosenberg Rich Baker Berman, P.A., issued a "going concern" qualification, citing that the Company has experienced recurring losses from operations, negative cash flows from operations and a working capital deficit as of Dec. 31, 2024. As of Dec. 31, 2024, Ondas Holdings had $109.62 million in total assets, $73.68 million in total liabilities, $19.36 million in redeemable noncontrolling interest, and $16.58 million in total stockholders' equity. OPTINOSE INC: Rosalind, 3 Others Report 2.5% Stake as of March 31 ----------------------------------------------------------------- Rosalind Advisors Inc., Rosalind Master Fund L.P., Steven A. Salamon, and Gilad Aharon disclosed in a Schedule 13G (Amendment No. 7) filed with the U.S. Securities and Exchange Commission that as of March 31, 2025, they beneficially owned an aggregate of 343,781 shares of OptiNose, Inc.'s common stock. This includes 256,190 shares of common stock and 87,591 shares issuable upon exercise of warrants, subject to blocker provisions, representing 2.5% of the 10,072,259 shares of common stock outstanding as of March 1, 2025, according to the Company's Form 10-K filed on April 30, 2025. Rosalind Advisors Inc. may be reached through: Steven A. Salamon, President 15 Wellesley Street West, Suite 326 Toronto, Ontario M4Y 0G7, Canada A full-text copy of Rosalind Advisors' SEC report is available at: https://tinyurl.com/yrammt6m About OptiNose, Inc. OptiNose, Inc. -- www.optinose.com -- is a specialty pharmaceutical company based in Yardley, Pennsylvania, focused on developing and commercializing products for patients treated by ear, nose and throat (ENT) and allergy specialists. The Company's first product, XHANCE (fluticasone propionate) nasal spray, utilizes its proprietary Exhalation Delivery System (EDS) to treat chronic rhinosinusitis, including cases with and without nasal polyps. XHANCE delivers medication to deeper, hard-to-reach areas of the nasal passages, offering a potential improvement over conventional intranasal steroids. Optinose also aims for XHANCE to become a standard maintenance therapy following sinus surgery to enhance patient outcomes. Philadelphia. Pa.-based Ernst & Young LLP, the Company's auditor since 2016, issued a "going concern" qualification in its report dated March 26, 2025, attached in the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, citing that the Company has suffered recurring losses from operations, has a working capital deficiency and expects to not be in compliance with certain debt covenants, and has stated that substantial doubt exists about the Company's ability to continue as a going concern. As of Dec. 31, 2024, the Company had $128.8 million in total assets, $169.1 million in total liabilities, and a total stockholders' deficit of $40.4 million. OUTFRONT MEDIA: FMR LLC Holds 15% Equity Stake as of March 31 ------------------------------------------------------------- FMR LLC and Abigail P. Johnson, disclosed in a Schedule 13G (Amendment No. 2) filed with the U.S. Securities and Exchange Commission that as of March 31, 2025, they beneficially owned 24,999,351.34 shares of common stock of OUTFRONT Media Inc., representing 15% of the shares outstanding. FMR LLC has sole voting power over 23,321,874.17 shares and sole dispositive power over all 24,999,351.34 shares reported. Abigail P. Johnson has sole dispositive power over the same amount of shares, with no voting power. FMR LLC may be reached at: 245 Summer Street Boston, Massachusetts 02210 Tel: (310) 601-2505 A full-text copy of FMR's SEC report is available at: https://tinyurl.com/4sby3tmn About OUTFRONT Media Inc. Headquartered in New York, OUTFRONT Media Inc. leases advertising space on out-of-home advertising structures and sites. * * * Egan-Jones Ratings Company, on September 10, 2024, maintained its 'CCC' foreign currency and local currency senior unsecured ratings on debt issued by OUTFRONT Media Inc. PALWAUKEE HOSPITALITY: Cash Collateral Access Extended to June 25 ----------------------------------------------------------------- Palwaukee Hospitality, LLC received another extension from the U.S. Bankruptcy Court for the Northern District of Illinois to use cash collateral. The fourth interim order authorized the company to use the cash collateral of its senior secured creditor, Albany Bank & Trust Company, N.A., for payroll and payroll-related taxes including $29,983.07 that was due on May 16 and up to $13,000 due on May 30. As protection, Albany was granted replacement security interests in, and liens on, its collateral. The next hearing is scheduled for June 25. Albany is represented by: David A. Golin, Esq. Saul Ewing, LLP 161 North Clark Street, Suite 4200 Chicago, IL 60601 Phone: (312) 876-7100 david.golin@saul.com About Palwaukee Hospitality Palwaukee Hospitality, LLC operates a hotel property located at 600 N. Milwaukee Avenue in Prospect Heights, Illinois. Palwaukee Hospitality sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-02685) on February 23, 2025. In its petition, the Debtor reported between $1 million and $10 million in both assets and liabilities. Judge Deborah L. Thorne handles the case. Penelope N. Bach, Esq., at Bach Law Offices is the Debtor's bankruptcy counsel. PARAGON INDUSTRIES: Seeks Chapter 11 Bankruptcy in Oklahoma ----------------------------------------------------------- On May 21, 2025, Paragon Industries Inc. filed Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of Oklahoma. According to court filing, the Debtor reports between $100 million and $500 million in debt owed to 200 and 999 creditors. The petition states funds will be available to unsecured creditors. About Paragon Industries Inc. Paragon Industries Inc. manufactures steel pipe products used in the oil and gas, construction, and fire protection industries. Based in Sapulpa, Oklahoma, the Company offers services such as heat treatment, threading, and fabrication. Its product range includes mechanical, sprinkler, line pipe, OCTG, and construction pipes, with a customer base extending across North and South America. Paragon Industries Inc.sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Okla. Case No. 25-80433) on May 21, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million. The Debtor is represented by Clayton D. Ketter, Esq. at PHILLIPS MURRAH P.C. PARKERVISION INC: Gem Investment, Affiliates Hold 9.99% Stake ------------------------------------------------------------- Gem Investment Advisors, LLC, GEM Partners LP, Flat Rock Partners LP, and Daniel M. Lewis disclosed in a Schedule 13G (Amendment No. 16) filed with the U.S. Securities and Exchange Commission that as of March 31, 2025, they beneficially owned an aggregate of 11,746,102 shares of ParkerVision Inc.'s common stock, par value $0.01 per share. This represents approximately 9.99% of the 117,487,388 shares outstanding. Gem Investment may be reached through: Daniel M. Lewis, Managing Member Gem Asset Management 600 Sylvan Ave Englewood Cliffs, N.J. 07632 Tel: (201) 705-1960 About ParkerVision Jacksonville, Fla.-based ParkerVision, Inc., and its wholly-owned German subsidiary, ParkerVision GmbH is in the business of innovating fundamental wireless hardware technologies and products. The Company has designed and developed proprietary RF technologies and integrated circuits based on those technologies, and the Company licenses its technologies to others for use in wireless communication products. Atlanta, Ga.-based Frazier & Deeter, LLC, the Company's auditor since 2024, issued a "going concern" qualification in its report dated March 24, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company's current resources are not sufficient to meet their liquidity needs for the next 12 months, the Company has losses from operations, negative operating cash flows and an accumulated deficit. These factors raise substantial doubt about the Company's ability to continue as a going concern. Parkervision disclosed $5,879,000 in total assets, $52,291,000 in total liabilities, and $46,412,000 in total shareholders' deficit at December 31, 2024. PARTIDA HOLDINGS: Seeks to Hire Brown Law Firm as Legal Counsel --------------------------------------------------------------- Partida Holdings of Little Rock, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Oklahoma to employ Brown Law Firm, PC as counsel. The firm will provide these services: (a) negotiate allowed claims and treatment of creditors; (b) render legal advice and prepare legal documents and pleadings concerning claims of creditors, post-petition financing, executing contracts, sale of assets, insurance, etc; (c) represent the Debtor in hearings and other contested matters; and (d) perform all other matters needed for reorganization. The firm will be paid at these hourly rates: Ron Brown, Attorney $350 Associate $300 Paralegal $75 Mr. Brown 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: Ron D. Brown, Esq. Brown Law Firm, P.C. 1609 E. 4th St. Tulsa, OK 74120 Telephone: (918) 585-9500 Facsimile: (866) 552-4874 Email: ron@ronbrownlaw.com About Partida Holdings of Little Rock Partida Holdings of Little Rock, LLC sells and services generators under a franchise agreement with Generator Supercenter Franchising, LLC. Partida Holdings of Little Rock filed Chapter 11 petition (Bankr. W.D. Okla. Case No. 25-11041) on April 10, 2025, listing up to $50,000 in assets and up to $10 million in liabilities. Austin Partida, chief executive officer, signed the petition. Judge Sarah A. Hall oversees the case. Ron D. Brown, Esq., at Brown Law Firm, PC represents the Debtor as bankruptcy counsel. PARTIDA HOLDINGS: Seeks to Tap Brown Law Firm as Bankruptcy Counsel ------------------------------------------------------------------- Partida Holdings of Lawton, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Oklahoma to employ Brown Law Firm, PC as counsel. The firm will provide these services: (a) negotiate allowed claims and treatment of creditors; (b) render legal advice and prepare legal documents and pleadings concerning claims of creditors, post-petition financing, executing contracts, sale of assets, insurance, etc; (c) represent the Debtor in hearings and other contested matters; and (d) perform all other matters needed for reorganization. The firm will be paid at these hourly rates: Ron Brown, Attorney $350 Associate $300 Paralegal $75 Mr. Brown 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: Ron D. Brown, Esq. Brown Law Firm, P.C. 1609 E. 4th St. Tulsa, OK 74120 Telephone: (918) 585-9500 Facsimile: (866) 552-4874 Email: ron@ronbrownlaw.com About Partida Holdings of Lawton Partida Holdings of Lawton, LLC sells and services generators under a franchise agreement with Generator Supercenter Franchising, LLC. Partida Holdings of Lawton filed Chapter 11 petition (Bankr. W.D. Okla. Case No. 25-11043) on April 10, 2025, listing up to $50,000 in assets and up to $10 million in liabilities. Austin Partida, chief executive officer, signed the petition. Judge Sarah A. Hall oversees the case. Ron D. Brown, Esq., at Brown Law Firm, PC represents the Debtor as bankruptcy counsel. PISHPOSH INC: Voluntary Chapter 11 Case Summary ----------------------------------------------- Debtor: PishPosh, Inc. 1915 Swarthmore Avenue Lakewood, NJ 08701 Business Description: Founded in 2015, PishPosh, Inc. is an online retailer focused on premium baby products such as strollers, car seats, feeding devices, bedding, and nursery items. Based in Lakewood, New Jersey, the Company operates a flagship boutique in the state and distributes products through its e- commerce site as well as third-party platforms like Amazon. Chapter 11 Petition Date: May 21, 2025 Court: United States Bankruptcy Court District of New Jersey Case No.: 25-15424 Judge: Hon. Christine M Gravelle Debtor's Counsel: Sari B. Placona, Esq. MCMANIMON, SCOTLAND & BAUMANN, LLC 75 Livingston Avenue Suite 201 Roseland, NJ 07068 Tel: 973-622-1800 Email: splacona@msbnj.com Estimated Assets: $100,000 to $500,000 Estimated Liabilities: $1 million to $10 million Chaim B. Birnbaum signed the petition as CEO. A list of the Debtor's 20 largest unsecured creditors was not provided alongside the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/IQYAHXQ/PishPosh_Inc__njbke-25-15424__0001.0.pdf?mcid=tGE4TAMA PIZZA VOLTA: Seeks to Hire Winship & Winship as Legal Counsel ------------------------------------------------------------- Pizza Volta SH, LLC seeks approval from the U.S. Bankruptcy Court for District of Wyoming to employ Winship & Winship, PC as counsel. The firm will provide these services: (a) assist in the production of the Debtor's schedules and statement of financial affairs and other pleadings necessary to file its Chapter 11 case; (b) prepare on behalf of the Debtor all necessary legal papers to commence a Chapter 11 case; (c) attend the meeting of creditors, Initial Debtor Interview and Case Management Conference; (d) assist in the preparation of the plan of reorganization and/or liquidation; (e) advise the Debtor on the local rules and standard practices of the United States Bankruptcy Court for the District of Wyoming; (f) represent the Debtor in adversary proceedings and contested matters related to the Debtor's bankruptcy case; (g) provide legal advice with respect to the Debtor's rights, powers, obligations, and duties; and (h) provide other legal services for the Debtor as necessary and appropriate for the administration of its estate. The hourly rates of the firm's counsel and staff are as follows: Stephen Winship, Attorney $400 Paralegal $125 The firm received a retainer in the amount of $15,000 from the Debtor. Mr. Winship 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: Stephen R. Winship, Esq. Winship & Winship, PC 145 South Durbin Street, Suite 201 Casper, WY 82601 Email: steve@winshipandwinship.com About Pizza Volta SH Pizza Volta SH LLC was a restaurant located at 120 N. Cache Street, #1137, Jackson, WY 83001, offering handcrafted pizzas, fresh salads, and house-made desserts. The establishment focused on using organic, locally sourced ingredients and supported the community through its "Pizza for a Purpose" initiative, donating a portion of sales to local nonprofits. Pizza Volta SH LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Wyo. Case No. 25-20188) on May 9, 2025. In its petition, the Debtor reports total assets of $306,580 and total liabilities of $1,835,681. Honorable Bankruptcy Judge Cathleen D. Parker handles the case. The Debtor is represented by Stephen R. Winship, Esq. at Winship & Winship, PC. PRESBYTERIAN HOMES: Taps Jones Nale & Mattingly as Tax Accountant ----------------------------------------------------------------- Presbyterian Homes and Services of Kentucky, Inc. and St. James Group, Inc. seek approval from the U.S. Bankruptcy Court for the Western District of Kentucky to employ Jones, Nale & Mattingly PLC as independent public accountant. The firm will prepare the Debtors' Form 990s for the taxable year of 2024. The firm requires an upfront retainer of $7,000 prior to commencing any work on the Form 990s. Travis Frick, a member at Jones, Nale & Mattingly, 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: Travis C. Frick Jones, Nale & Mattingly PLC 401 W. Main St. Ste 1100 Louisville, KY 40202 Telephone: (502) 583-0248 About Presbyterian Homes and Services of Kentucky Presbyterian Homes and Services of Kentucky, Inc. and St. James Group, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Ky. Case No. 24-33060) on December 15, 2024, listing up to $10 million in both assets and liabilities. Hattie H. Wagner, president and chief executive officer, signed the petitions. Judge Alan C. Stout oversees the case. The Debtors tapped Charity S. Bird, Esq., at Kaplan Johnson Abate & Bird, LLP as counsel and Jones, Nale & Mattingly PLC as independent public accountant. PROS HOLDINGS: All Key Proposals Approved at Annual Meeting ----------------------------------------------------------- PROS Holdings, Inc. held its annual meeting of stockholders during which the Company stockholders: (i) elected Catherine Lesjak and John Strosahl as Class III directors, and Andres Reiner as a Class I director, with each Class III director to hold office until the 2028 Annual Meeting and the Class I director to hold office until the 2026 Annual Meeting, all until their successor has been duly elected and qualified or until the earlier of their death, resignation or removal. (ii) approved, on an advisory vote, named executive officer compensation; (iii) approved of amendments to the Company's Amended and Restated 2017 Equity Incentive Plan to, among other items, increase the number of shares authorized for issuance by three million shares; and (iv) ratified the appointment of PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2025. The total number of outstanding shares entitled to vote at the Annual Meeting as of the March 12, 2025 record date was 47,796,522. A total of 42,806,215 shares of common stock were present in person or by proxy at the Annual Meeting, representing approximately 89.55% of the shares entitled to vote at the Annual Meeting. About PROS Holdings Headquartered in Houston, Texas, PROS Holdings, Inc. (NYSE: PRO), is a provider of AI-powered SaaS pricing, CPQ, revenue management, and digital offer marketing solutions. As of March 31, 2025, PROS Holdings had $427.2 million in total assets, $493 million in total liabilities, and total stockholders' deficit of $65.8 million. * * * Egan-Jones Ratings Company, on August 22, 2024, maintained its 'CCC-' foreign currency and local currency senior unsecured ratings on debt issued by PROS Holdings, Inc. PURDUE PHARMA: Former Mckinsey Exec. Sentenced for Disrupting Probe ------------------------------------------------------------------- Emily Lever of Law360 reports that on Friday, May 23, 2025, federal prosecutors announced that a disbarred attorney and former McKinsey & Co. partner was sentenced by a Virginia federal judge to six months in prison for obstructing an investigation into the consulting firm's ties to opioid manufacturer Purdue. About Purdue Pharma LP Purdue Pharma L.P. and its subsidiaries -- http://www.purduepharma.com/-- develop and provide prescription medicines and consumer products that meet the evolving needs of healthcare professionals, patients, consumers and caregivers. Purdue's subsidiaries include Adlon Therapeutics L.P., focused on treatment for Attention-Deficit/Hyperactivity Disorder (ADHD) and related disorders; Avrio Health L.P., a consumer health products company that champions an improved quality of life for people in the United States through the reimagining of innovative product solutions; Imbrium Therapeutics L.P., established to further advance the emerging portfolio and develop the pipeline in the areas of CNS, non-opioid pain medicines, and select oncology through internal research, strategic collaborations and partnerships; and Greenfield Bioventures L.P., an investment vehicle focused on value-inflection in early stages of clinical development. Opioid makers in the U.S. are facing pressure from a crackdown on the addictive drug in the wake of the opioid crisis and as state attorneys general file lawsuits against manufacturers. More than 2,000 states, counties, municipalities and Native American governments have sued Purdue Pharma and other pharmaceutical companies for their role in the opioid crisis in the U.S., which has contributed to the more than 700,000 drug overdose deaths in the U.S. since 1999. OxyContin, Purdue Pharma's most prominent pain medication, has been the target of over 2,600 civil actions pending in various state and federal courts and other fora across the United States and its territories. On Sept. 15 and 16, 2019, Purdue Pharma L.P. and 23 affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 19 23649), after reaching terms of a preliminary agreement for settling the massive opioid litigation. The Debtors' consolidated balance sheet as of Aug. 31, 2019, showed $1.972 billion in assets and $562 million in liabilities. U.S. Bankruptcy Judge Robert Drain oversees the cases. The Debtors tapped Davis Polk & Wardwell, LLP and Dechert, LLP, as legal counsels; PJT Partners as investment banker; AlixPartners as financial advisor; and Grant Thornton, LLP as tax structuring consultant. Prime Clerk, LLC, is the claims agent. Akin Gump Strauss Hauer & Feld LLP and Bayard, P.A., represent the official committee of unsecured creditors appointed in the Debtors' bankruptcy cases. David M. Klauder, Esq., is the fee examiner appointed in the Debtors' cases. The fee examiner is represented by Bielli & Klauder, LLC. * * * U.S. Bankruptcy Judge Robert Drain in early September 2021 approved a plan to turn Purdue into a new company (Knoa Pharma LLC) no longer owned by members of the Sackler family, with its profits going to fight the opioid epidemic. The Sackler family agreed to pay $4.3 billion over nine years to the states and private plaintiffs and in exchange for a lifetime legal immunity. The deal resolves some 3,000 lawsuits filed by state and local governments, Native American tribes, unions, hospitals and others who claimed the company's marketing of prescription opioids helped spark and continue an overdose epidemic. Separate appeals to approval of the Plan have already been filed by the U.S. Bankruptcy Trustee, California, Connecticut, the District of Columbia, Maryland, Rhode Island and Washington state, plus some Canadian local governments and other Canadian entities. In early March 2022, Purdue Pharma reached a nationwide settlement over its role in the opioid crisis, with the Sackler family members boosting their cash contribution to as much as $6 billion. The settlement was hammered out with attorneys general from the eight states -- California, Connecticut, Delaware, Maryland, Oregon, Rhode Island, Vermont and Washington -- and D.C. who had opposed the previous settlement. QUALITY PROPERTIES: Seeks to Tap A.O.E. Law & Associates as Counsel ------------------------------------------------------------------- Quality Properties USA, LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ A.O.E. Law & Associates, APC as counsel. The firm will render these services: (a) advise the Debtor as to the requirements of the Bankruptcy Court, the Bankruptcy Code, Federal Rules of Bankruptcy Procedure (FRPB), Local Bankruptcy Rules (LBR), and the Office of the United States Trustee; (b) advise the Debtor as to certain rights and remedies of its bankruptcy estate, assist in taking all necessary action to protect and preserve the estate, in negotiating with creditors and other parties in interest, in advising the debtor in connection with proceedings, in preparing the plan of reorganization and disclosure statement, in preparing any necessary pleadings and attending court hearings thereon, and in performing other legal services normally incident to Chapter 11 case; (c) advise and represent the Debtor with regard to the administration of the Chapter 11 bankruptcy estate and duties; (d) perform any other services, which may be necessary and appropriate in the representation of the Debtor during the bankruptcy case; and (e) represent the Debtor in such matters as agreed to by the Debtor and A.O.E in connection with the bankruptcy case. The firm will be paid at these hourly rates: Anthony Egbase, Principal $500 Shana Stark, Associate $450 Aliyah Guidry, Associate $400 Paralegal/Law Clerk $200 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $15,000 from the Debtor. Mr. Egbase 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: Anthony O. Egbase, Esq. A.O.E. Law & Associates, APC Bunker Hill Towers 800 W. 1st Street, Suite 400 Los Angeles, CA. 90012 Telephone: (213) 620-7070 Email: info@aoelaw.com About Quality Properties USA Quality Properties USA, LLC filed voluntary Chapter 7 petition (Bankr. C.D. Cal. Case No. 25-10021) on January 6, 2025. The case was converted to one under Chapter 11 on April 4, 2025. In its petition, the Debtor disclosed up to $1 million in both assets and liabilities. Judge Martin R. Barash oversees the case. Anthony O. Egbase, Esq., and Shana Y. Stark, Esq., at A.O.E. Law and Associates, APC represents the Debtor as counsel. Velocity Commercial Capital, LLC, as lender, is represented by Joshua M. Nyman, Esq., at Ramsaur Law Office. RANCHO VILLAGE: Public Sale Auction Set for June 24 --------------------------------------------------- Jones Lang LaSalle Inc., on behalf of ECDF Sub LLC ("secured party"), will offer for sale at public auction 100% of the common stock interests held by Rancho Village Partners ("pledgor") in NOLA Sky JV LLC as set forth in that certain pledge and security agreement dated March 31, 2024 together with certain rights and property representing, relating to, or arising from the interests ("collateral"). The sale will take place on June 24, 2025, at 2:30 p.m. Eastern Time in compliance with the Uniform Commercial Code Section 9-610 in person at the offices of Moritt Hock & Hamroff LLP, 1407 Broadway, 39th Floor, New York, New York 10018 and virtually via online video conference. The online datasite for the sale is available at https://2705NRanchoDriveLasVegasUCCSale.com/ For questions and inquiries, contact Mark Wintner at Jones Lang LaSalle Brokerage Inc., Tel: (310) 407-2118, Email: 2705NRanchoDriveLasVegasUCCSale@jll.com. RED RIVER: Refuses to Pay Brown Rudnick Legal Fees -------------------------------------------------- Alex Wolf of Bloomberg Law reports that Johnson & Johnson's talc liability unit, Red River Talc LLC, argued that Brown Rudnick LLP should be denied legal fees for its work on the bankruptcy case, claiming the firm was never officially approved for retention. In a filing Thursday, May 22, 2025, with the U.S. Bankruptcy Court for the Southern District of Texas, the J&J subsidiary called Brown Rudnick's $4.3 million fee request -- submitted for representing a committee of cancer-affected talc claimants in Red River Talc LLC's Chapter 11 case -- "procedurally improper." About J&J Talc Units LLT Management, LLC (formerly known as LTL Management LLC) was a subsidiary of Johnson & Johnson that was formed to manage and defend thousands of talc-related claims and oversee the operations of Royalty A&M. Royalty A&M owns a portfolio of royalty revenue streams, including royalty revenue streams based on third-party sales of LACTAID, MYLANTA/MYLICON and ROGAINE products. LTL Management first filed a petition for Chapter 11 protection (Bankr. W.D.N.C. Case No. 21-30589) on Oct. 14, 2021. The case was transferred to New Jersey (Bankr. D.N.J. Case No. 21-30589) on Nov. 16, 2021. The Hon. Michael B. Kaplan is the case judge. At the time of the filing, the Debtor was estimated to have $1 billion to $10 billion in both assets and liabilities. In the 2021 case, LTL Management tapped Jones Day and Rayburn Cooper & Durham, P.A., as bankruptcy counsel; King & Spalding, LLP and Shook, Hardy & Bacon LLP as special counsel; McCarter & English, LLP as litigation consultant; Bates White, LLC as financial consultant; and AlixPartners, LLP as restructuring advisor. Epiq Corporate Restructuring, LLC, served as the claims agent. On Dec. 24, 2021, the U.S. Trustee for Regions 3 and 9 reconstituted the talc claimants' committee and appointed two separate committees: (i) the official committee of talc claimants I, which represents ovarian cancer claimants, and (ii) the official committee of talc claimants II, which represents mesothelioma claimants. The official committee of talc claimants I tapped Genova Burns LLC, Brown Rudnick LLP, Otterbourg PC and Parkins Lee & Rubio LLP as its legal counsel. Meanwhile, the official committee of talc claimants II is represented by the law firms of Cooley LLP, Bailey Glasser LLP, Waldrep Wall Babcock & Bailey PLLC, Massey & Gail LLP, and Sherman Silverstein Kohl Rose & Podolsky P.A. Re-Filing of Chapter 11 Petition On Jan. 30, 2023, a panel of the Third Circuit issued an opinion directing this Court to dismiss the 2021 Chapter 11 Case on the basis that it was not filed in good faith. Although the Third Circuit panel recognized that the Debtor "inherited massive liabilities" and faced "thousands" of future claims, it concluded that the Debtor was not in financial distress before the filing. On March 22, 2023, the Third Circuit entered an order denying the Debtor's petition for rehearing. The Third Circuit entered an order denying LTL's stay motion on March 31, 2023, and, on the dame day, issued its mandate directing the Bankruptcy Court to dismiss the 2021 Chapter 11 Case. The Bankruptcy Court entered an order dismissing the 2021 Case on April 4, 2023. Johnson & Johnson on April 4, 2023, announced that its subsidiary LTL Management LLC (LTL) has re-filed for voluntary Chapter 11 bankruptcy protection (Bankr. D.N.J. Case No. 23-12825) to obtain approval of a reorganization plan that will equitably and efficiently resolve all claims arising from cosmetic talc litigation against the Company and its affiliates in North America. In the new filing, J&J said it has agreed to contribute up to a present value of $8.9 billion, payable over 25 years, to resolve all the current and future talc claims, which is an increase of $6.9 billion over the $2 billion previously committed in connection with LTL's initial bankruptcy filing in October 2021. LTL also has secured commitments from over 60,000 current claimants to support a global resolution on these terms. In August 2023, U.S. Bankruptcy Judge Michael Kaplan in Trenton, New Jersey, ruled that the second bankruptcy case should be dismissed. 3rd Try In May 2024, J&J announced its subsidiary LLT Management LLC is soliciting support for a consensual prepackaged bankruptcy plan to resolve its talc-related liabilities. Under the terms of the plan, a trust would be funded with over $5.4 billion in the first three years and more than $8 billion over the course of 25 years, which J&J calculates to have a net present value of $6.475 billion. If the Plan is accepted by at least 75% of voters, a bankruptcy was to be filed under the case name In re Red River Talc LLC. Epiq Corporate Restructuring, LLC is serving as balloting and solicitation agent for LLT. On Sept. 20, 2024, Red River Talc LLC filed a Chapter 11 bankruptcy petition (Bankr. S.D. Tex. Case No. 24-90505). Porter Hedges LLP and Jones Day serve as counsel in the new Chapter 11 case. Epiq is the claims agent. Paul Hastings LLP is counsel to the Ad Hoc Committee of Supporting Counsel. Randi S. Ellis is the proposed prepetition legal representative of future claimants. RELIANT REHAB: FS KKR Marks $49.6-Mil. 1L Loan at 54% Off --------------------------------------------------------- FS KKR Capital Corp. (FSK) has marked its $49,600,000 loan extended to Reliant Rehab Hospital Cincinnati LLC to market at $22,700,000 or 46% of the outstanding amount, according to Saratoga FSK's Form 10-K for the fiscal year ended March 31, 2025, filed with the U.S. Securities and Exchange Commission. FSK is a participant in a First Lien Senior Secured Loan to Reliant Rehab Hospital Cincinnati LLC. The loan accrues interest at a rate of 6.30% per annum. The loan matures on February 2026. FSK was incorporated under the general corporation laws of the State of Maryland on December 21, 2007 and formally commenced investment operations on January 2, 2009. The Company is an externally managed, non-diversified, closed-end management investment company that has elected to be regulated as a business development company, or BDC, under the Investment Company Act of 1940. The Company has various wholly-owned subsidiaries, including special-purpose financing subsidiaries and subsidiaries through which it holds interests in portfolio companies. FSK is led by Michael C. Forman as Chief Executive Officer, Steven Lilly as Chief Financial Officer, and William Goebel as Chief Accounting Officer. The Fund can be reach through: Michael C. Forman FS KKR Capital Corp. 201 Rouse Boulevard Philadelphia, PA 19112 Telephone: (215) 495-1150 About Reliant Rehab Hospital Cincinnati LLC Reliant Rehab Hospital Cincinnati LLC is engaged in the distribution of health care equipment and services in the U.S. RENASCENCE INC: Seeks to Hire C. Scott Kirk as Bankruptcy Counsel ----------------------------------------------------------------- Renascence, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina to employ C. Scott Kirk, Attorney at Law, PLLC as bankruptcy counsel. The firm will render these services: (a) prepare on behalf of the Debtor all necessary legal documents necessary for its reorganization; (b) perform all necessary legal services in connection with the Debtor's reorganization; and (c) perform all other legal services for the Debtor which may be necessary for a Chapter 11 case. The firm will be paid at these hourly rates: C. Scott Kirk, Attorney $350 Paralegal $100 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $6,000 from Debtor. Mr. Kirk 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: C. Scott Kirk, Esq. C. Scott Kirk, Attorney at Law, PLLC 1025C Director Court Greenville, NC 27858 Telephone: (252) 689-6249 Email: scott@csklawoffice.com About Renascence Inc. Renascence Inc., d/b/a PIP Printing, operates a commercial printing business based in Greenville, Pitt County, North Carolina. Founded in 1997, the Company runs under a franchise agreement with Postal Instant Press, Inc. (PIP Printing), offering services such as copying, publishing, mailing, embroidery, and signage. It also sells office supplies and serves both individual and business customers in Pitt County and nearby areas. Renascence Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 25-01764) on May 12, 2025. In its petition, the Debtor reports total assets of $111,445 and total liabilities of $1,480,810. Honorable Bankruptcy Judge Pamela W. McAfee handles the case. The Debtor is represented by C. Scott Kirk, Attorney At Law, PLLC. RENSOL REALTY: Case Summary & One Unsecured Creditor ---------------------------------------------------- Debtor: Rensol Realty, Ltd. 232A Putnam Avenue Brooklyn, NY 11216 Business Description: Rensol Realty Ltd. is a single-asset real estate company that owns a property located at 232A Putnam Avenue in Brooklyn, New York. The property is valued at approximately $2.1 million. Chapter 11 Petition Date: May 22, 2025 Court: United States Bankruptcy Court Eastern District of New York Case No.: 25-42512 Judge: Hon. Nancy Hershey Lord Debtor's Counsel: Thomas A. Farinella, Esq. LAW OFFICE OF THOMAS A. FARINELLA, PC 260 Madison Avenue 8th Floor New York, NY 10016 Tel: (917) 319-8579 Email: tf@lawtaf.com Total Assets: $2,100,000 Total Liabilities: $950,665 The petition was signed by Ronald Losner as authorized representative of the Debtor. Rensol Realty identified the NYC Water Board as its only unsecured creditor, with a $12,000 claim. The board is represented by Assistant Counsel Andrew Rettig and is located at 59-17 Junction Boulevard, 13th Floor, in Elmhurst, New York. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/W2OBDWQ/Rensol_Realty_LTD__nyebke-25-42512__0001.0.pdf?mcid=tGE4TAMA RESHAPE LIFESCIENCES: CVI, Heights Capital Hold 5.7% Stake ---------------------------------------------------------- CVI Investments, Inc. and Heights Capital Management, Inc. disclosed in a Schedule 13G (Amendment No. 1) filed with the U.S. Securities and Exchange Commission that as of March 31, 2025, they beneficially owned 200,000 shares of ReShape Lifesciences Inc.'s common stock, issuable upon the exercise of warrants. These warrants are subject to a beneficial ownership limitation that restricts exercisability to the extent total beneficial ownership would exceed 9.99%. The reported shares represent 5.7% of ReShape Lifesciences' 3,305,087 shares outstanding as of February 18, 2025. The reporting persons may be reached at: CVI Investments, Inc. P.O. Box 309GT Ugland House South Church Street George Town Grand Cayman KY1-1104 Cayman Islands Tel: 345-949-808 Heights Capital Management, Inc. (Investment Manager) 101 California Street, Suite 3250 San Francisco, California 94111 A full-text copy of CVI Investments' SEC report is available at: https://tinyurl.com/38kcvs83 About Reshape Lifesciences Headquartered in Irvine, California, Reshape Lifesciences Inc. -- www.reshapelifesciences.com -- is a premier physician-led weight-loss solutions company, offering an integrated portfolio of proven products and services that manage and treat obesity and associated metabolic disease. The Company's primary operations are in the following geographical areas: United States, Australia and certain European and Middle Eastern countries. Its current portfolio includes the Lap-Band Adjustable Gastric Banding System, the Obalon Balloon System, and the Diabetes Bloc-Stim Neuromodulation device, a technology under development as a new treatment for type 2 diabetes mellitus. There has been no revenue recorded for the Obalon Balloon System, or the Diabetes Bloc-Stim Neuromodulation as these products are still in the development stage. In its report dated April 4, 2025, the Company's auditor Haskell & White LLP, issued a "going concern" qualification attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, citing that the Company has suffered recurring losses from operations and negative cash flows. The Company currently does not generate revenue sufficient to offset operating costs and anticipates such shortfalls to continue. These conditions raise substantial doubt about the Company's ability to continue as a going concern. As of Dec. 31, 2024, Reshape Lifesciences had $4.79 million in total assets, $5.05 million in total liabilities, and a total stockholders' deficit of $253,000. RETO ECO-SOLUTIONS: Net Loss Narrows to $8.4 Million in 2024 ------------------------------------------------------------ Reto Eco-Solutions, Inc. filed with the U.S. Securities and Exchange Commission its Annual Report on Form 20-F for the year ended December 31, 2024. As reflected in the Company's consolidated financial statements for the year ended December 31, 2024, the Company's revenue increased by approximately $1.8 million, or 16,865%, from approximately $10,781 in the year ended December 31, 2023 to approximately $1.8 million in the year ended December 31, 2024; its gross profit from continuing operations increased by approximately $0.8 million, or 53,450%, from approximately $1,541 in the year ended December 31, 2023 to approximately $0.8 million for the year ended December 31, 2024; and its gross margin for the year ended December 31, 2024 increased to 45% from 14% for the prior year. For the years ended December 31, 2024 and 2023, the Company incurred significant impairment losses on bad debt expenses on uncollectible accounts receivable and advance payments due to changes in the market conditions of its customers and suppliers. As of December 31, 2024, the Company had cash of approximately $0.7 million. In addition, the Company had outstanding accounts receivable of approximately $0.1 million, of which approximately $0.1 million, or 100%, were subsequently collected and became available for use as working capital. As of December 31, 2024, the Company had no outstanding bank loans. Irvine, California-based YCM CPA Inc., the Company's auditor since 2021, issued a "going concern" qualification in its report dated May 8, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company reported a net loss of approximately $8.4 million and $16.1 million for the years ended December 31, 2024 and 2023, respectively, and the Company had a working deficit of approximately $2.6 million as of December 31, 2024. These conditions raise substantial doubt about the Company's ability to continue as a going concern. Management's plan to alleviate the substantial doubt about the Company's ability to continue as a going concern include working to improve its liquidity and capital sources mainly through cash flow from its operations, renewal of bank borrowings, equity or debt offering and borrowing from related parties. In order to fully implement its business plan and recover from continuing losses, the Company may also seek equity financing from outside investors. At the present time, however, it does not have commitments of funds from any potential investors. There can be no assurance that additional financing, if required, would be available on favorable terms or at all and/or that these plans and arrangements will be sufficient to fund the Company's ongoing capital expenditures, working capital, and other requirements. If the Company is unable to achieve these goals, its business will be jeopardized and may not be able to continue. If the company ceases operations, it is likely that all of investors will lose their investment. A full-text copy of the Company's Form 20-F is available at: https://tinyurl.com/2n7ad3je About Reto Eco-Solutions Reto Eco-Solutions, Inc., through its operating subsidiaries in China, is engaged in the manufacture and distribution of eco-friendly construction materials (aggregates, bricks, pavers and tiles), made from mining waste (iron tailings), as well as equipment used for the production of these eco-friendly construction materials. Headquartered in Beijing, Peoples Republic of China, the Company also provides consultation, design, project implementation and construction of urban ecological protection projects through its operating subsidiaries in China. It also provides parts, engineering support, consulting, technical advice and service, and other project-related solutions for its manufacturing equipment and environmental protection projects. As of Dec. 31, 2024, the Company had $34.3 million in total assets, $4.3 million in total liabilities, and a total shareholders' equity of $29.9 million. RH LAKEWIND EAST: Seeks Chapter 11 Bankruptcy in New Jersey ----------------------------------------------------------- On May 19, 2025, RH Lakewind East LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the District of New Jersey. According to court filing, the Debtor reports between $100 million and $500 million in debt owed to 100 and 199 creditors. The petition states funds will be available to unsecured creditors. About RH Lakewind East LLC RH Lakewind East LLC is a real estate holding company that owns property assets in New Orleans, Louisiana. RH Lakewind East LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J.Case No. 25-15344) on May 19, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. Honorable Bankruptcy Judge Michael B. Kaplan handles the case. The Debtors are represented by Andrew Zatz, Esq. at White & Case LLP. RMKD LIQUORS: Gets Interim OK to Use Cash Collateral Until June 26 ------------------------------------------------------------------ RMKD Liquors Inc. got the green light from the U.S. Bankruptcy Court for the Southern District of New York to use cash collateral. The order penned by Judge David Jones authorized the company's interim use of cash collateral from May 7 to June 26 to pay the expenses set forth in its budget, with a 10% variance allowed. RMKD Liquors listed $757,773.50 in secured claims from creditors including JPMorgan Chase Bank N.A., the U.S. Small Business Administration, TD Bank N.A., Colony Bank, and American Express Business Line of Creditor. As protection for the use of their cash collateral, secured creditors were granted replacement liens. Replacement liens do not attach to Chapter 5 avoidance actions. In addition, each of JPMorgan and SBA will receive a monthly payment of $1,000 as additional protection. A final hearing is scheduled for June 26. About RMKD Liquors Inc. RMKD Liquors Inc. operates a retail liquor store in New York, offering a variety of alcoholic beverages including wine, vodka, whiskey, rum, tequila, and liqueurs. It also sells alcohol-related accessories such as bottle openers, wine bags, and wine keys, and occasionally stocks specialty items like cocktail mixers containing alcohol. RMKD Liquors sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-10940) on May 7, 2025. In its petition, the Debtor reported total assets of $127,400 and total liabilities of $1,440,174. Judge David S. Jones handles the case. The Debtor is represented by Jeb Singer, Esq., at J. Singer Law Group, PLLC. ROCKAWAY CONTRACTING: Case Summary & Six Unsecured Creditors ------------------------------------------------------------ Debtor: Rockaway Contracting Corp. 40 Underhill Blvd. Suite 2G Syosset, NY 11791 Business Description: Rockaway Contracting Corp is a construction firm based in Syosset, New York. The Company specializes in commercial and residential projects and has handled multiple large-scale developments. Chapter 11 Petition Date: May 26, 2025 Court: United States Bankruptcy Court Southern District of New York Case No.: 25-11167 Debtor's Counsel: Lawrence F. Morrison, Esq. MORRISON TENENBAUM PLLC 87 Walker Street, Second Floor New York, NY 10013 Email: lmorrison@m-t-law.com Estimated Assets: $500,000 to $1 million Estimated Liabilities: $1 million to $10 million John Barone, in his role as president, affixed his signature to the petition. A copy of the Debtor's list of six unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/S3WUQDA/Rockaway_Contracting_Corp__nysbke-25-11167__0002.0.pdf?mcid=tGE4TAMA 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/SFE7H2Y/Rockaway_Contracting_Corp__nysbke-25-11167__0001.0.pdf?mcid=tGE4TAMA RYVYL INC: CVI Investments, Heights Capital Report 9.9% Stake ------------------------------------------------------------- CVI Investments, Inc. and Heights Capital Management, Inc., disclosed in a Schedule 13G (Amendment No. 4) filed with the U.S. Securities and Exchange Commission that as of March 31, 2025, they beneficially owned 926,868 shares of RYVYL Inc.'s common stock. The shares are issuable upon the conversion of the company's 8% Senior Convertible Note due 2023 and are subject to a beneficial ownership limitation of 9.99%. The reported holdings represent 9.9% of the 8,351,086 shares of common stock outstanding as of March 24, 2025, according to the Company's most recent Form 10-K. CVI Investments, Inc. may be reached through: Heights Capital Management, Inc. (Investment Manager) 101 California Street, Suite 3250 San Francisco, California 94111 Tel: 345-949-8080 CVI Investments, Inc. (organized in the Cayman Islands) and Heights Capital Management, Inc. (organized in Delaware) disclaim beneficial ownership of the shares except to the extent of their pecuniary interest therein. A full-text copy of CVI Investments' SEC report is available at: https://tinyurl.com/j8uuc35n About Ryvyl Inc. San Diego, Calif.-based RYVYL Inc., together with its subsidiaries, is a financial technology company that develops, markets, and sells innovative blockchain-based payment solutions, which offer significant improvements for the payment solutions marketplace. The Company's core focus is to develop and monetize disruptive blockchain-based applications, integrated within an end-to-end suite of financial products, capable of supporting a multitude of industries. In its report dated March 28, 2025, the Company's auditor, Simon & Edward, LLP, issued a 'going concern' qualification, attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, noting that the transitioning of the Company's QuickCard product in North America led to a significant decline in processing volume and revenue, the recovery of these lost revenues is not expected until late 2025. The loss of revenue resulting from this business reorganization has jeopardized its ability to continue as a going concern. As of Dec. 31, 2024, RYVYL had $122.28 million in total assets, $123.77 million in total liabilities, and a total stockholders' deficit of $1.49 million. SASAS HOSPITALITY: Court Extends Cash Collateral Access to June 13 ------------------------------------------------------------------ SASAS Hospitality, LLC received interim approval from the U.S. Bankruptcy Court for the Northern District of Illinois to use cash collateral until June 13, marking the fifth extension since the company's Chapter 11 filing. The fifth interim order authorized the company to use the cash collateral of its senior secured creditor, Albany Bank & Trust Company, N.A., to pay the expenses set forth in its budget, with a 10% variance allowed. As protection, Albany was granted a replacement lien on assets of the company in which it held a security interest and lien as of the petition date. The next hearing is scheduled for June 11. Objections are due by June 9. About SASAS Hospitality LLC SASAS Hospitality, LLC is a hospitality company that owns a property at 5105 S Howell Ave, Milwaukee, Wis. SASAS Hospitality filed Chapter 11 petition (Bankr. N.D. Ga. Case No. 25-03643) on March 10, 2025, listing between $1 million and $10 million in both assets and liabilities. Judge Jacqueline P. Cox handles the case. Paul M. Bach, Esq., at Bach Law Offices is the Debtor's bankruptcy counsel. Albany Bank & Trust Company, as secured creditor, is represented by: David A. Golin, Esq. Saul Ewing, LLP 161 North Clark Street, Suite 4200 Chicago, IL 60601 Phone: (312) 876-7100 david.golin@saul.com SASH GROUP: Gets Interim OK to Use Cash Collateral Until July 23 ---------------------------------------------------------------- Sash Group, Inc. got the green light from the U.S. Bankruptcy Court for the Southern District of California, San Diego, to use cash collateral. The order signed by Judge Christopher Latham authorized the company's interim use of cash collateral until July 23 to pay the expenses set forth in its budget. As protection for the use of their cash collateral, secured creditors including Manufactured Networks, Inc. and the U.S. Small Business Administration were granted replacement liens are granted to MFD and other secured creditors are adequately protected by the continued operation of the company's business. In addition, Manufactured Networks and SBA will receive monthly payments of $2,500 and $731, respectively, during the interim period. The next hearing is scheduled for July 16. Manufactured Networks is represented by: Steven N. Kurtz, Esq. J. Alexandra Rhim, Esq. Levinson Arshonsky Kurtz & Komsky, LLP 15303 Ventura Blvd., Suite 1650 Sherman Oaks, CA 91403 Telephone: (818) 382-3434 Facsimile: (818) 382-3433 arhim@lakklawyers.com About Sash Group Inc. Sash Group Inc. is the San Diego-based company behind 'The Sash Bag' brand of crossbody handbags and accessories. Sash Group sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Cal. Case No. 25-01150) on March 25, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 milliion and $10 million each. The Debtor is represented by: Matthew D. Resnik Rhm Law LLP Tel: 818-285-0100 Email: matt@rhmfirm.com SCILEX HOLDING: Updates Stock Option Grants After 1-for-35 Split ---------------------------------------------------------------- As previously announced by Scilex Holding Company, on April 15, 2025, the Company effected a reverse stock split of its common stock, par value $0.0001 per share at a ratio of 1-for-35. In connection with the Reverse Stock Split, the Compensation Committee of the Board of Directors considered the impact of the Reverse Stock Split on the equity compensation component of the Company's Non-Employee Director Compensation Policy governing the cash and equity compensation payable to the non-employee members of the Board, which provided for an initial stock option grant of 250,000 shares of Common Stock and an annual stock option grant for 100,000 shares of Common Stock. On May 9, 2025, the Compensation Committee approved an Amended and Restated Non-Employee Director Compensation Policy to reflect the effect of the Reverse Stock Split on the non-employee director equity grants, pursuant to which, (i) each newly appointed or elected non-employee director will receive an initial option grant to purchase 7,142 shares of Common Stock and (ii) each continuing non-employee director will be eligible to receive an annual stock option grant to purchase 2,857 shares of Common Stock. All other aspects of the cash and equity compensation payable to the non-employee directors remain unchanged, and all share numbers shall be subject to adjustment for any stock splits, dividends, combinations, recapitalizations and the like occurring after the Reverse Stock Split. The Amended and Restated Non-Employee Director Compensation Policy is with retroactive effect to April 15, 2025. About Scilex Holding Company Palo Alto, Calif.-based Scilex Holding Company -- www.scilexholding.com -- is an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain and, following the formation of its proposed joint venture with IPMC Company, neurodegenerative and cardiometabolic disease. Scilex targets indications with high unmet needs and large market opportunities with non-opioid therapies for the treatment of patients with acute and chronic pain and is dedicated to advancing and improving patient outcomes. Scilex's commercial products include: (i) ZTlido (lidocaine topical system) 1.8%, a prescription lidocaine topical product approved by the U.S. Food and Drug Administration for the relief of neuropathic pain associated with postherpetic neuralgia, which is a form of post-shingles nerve pain; (ii) ELYXYB, a potential first-line treatment and the only FDA-approved, ready-to-use oral solution for the acute treatment of migraine, with or without aura, in adults; and (iii) Gloperba, the first and only liquid oral version of the anti-gout medicine colchicine indicated for the prophylaxis of painful gout flares in adults. In its report dated March 31, 2025, the Company's auditor, BMP LLP, issued a "going concern" qualification, attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, citing that the Company has suffered recurring losses from operations and has a net capital deficiency that raise substantial doubt about its ability to continue as a going concern. As of Dec. 31, 2024, Scilex Holding had $92.95 million in total assets, $285.59 million in total liabilities, and a total stockholders' deficit of $192.64 million. SHAIK'S LLC: Seeks Approval to Hire David Freydin as Legal Counsel ------------------------------------------------------------------ Shaik's LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to employ the Law Offices of David Freydin PC as counsel. The firm will render these services: (a) negotiate with creditors; (b) prepare a plan and financial statements; and (c) examine and resolve claims filed against the estate. The firm will be paid at these hourly rates: David Freydin, Attorney $450 Jan Michael Hulstedt, Attorney $425 Derek Lofland, Attorney $425 Jeremy Nevel, Attorney $425 Mr. Freydin 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: David Freydin, Esq. Law Offices of David Freydin PC 8707 Skokie Blvd., Suite 312 Skokie, IL 60077 Telephone: (847) 972-6157 Facsimile: (866) 897-7577 Email: david.freydin@freydinlaw.com About Shaik's LLC Shaik's LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-06976) on May 6, 2025, listing under $1 million in both assets and liabilities. Judge Timothy A. Barnes oversees the case. The Debtor is represented by the Law Offices of David Freydin PC. SHAW SERVICES: Voluntary Chapter 11 Case Summary ------------------------------------------------ Debtor: Shaw Services LLC FKA Shawcs, LLC 861 Old Hwy 4 West Holly Springs, MS 38635 Business Description: Shaw Services LLC is a family-owned commercial construction company specializing in concrete and site work across Mississippi, Alabama, and Tennessee. Founded in 1997, the firm is licensed and bonded, and also offers pressure washing and roof coating services. Chapter 11 Petition Date: May 22, 2025 Court: United States Bankruptcy Court Northern District of Mississippi Case No.: 25-11621 Debtor's Counsel: J. Walter Newman, IV, Esq. NEWMAN & NEWMAN 601 Renaissance Way, Suite A Ridgeland, MS 39157 Tel: (601) 948-0586 E-mail: stacyplovorn@icloud.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Bobby W. Clanton as manager. The Debtor did not submit the required list of its 20 largest unsecured creditors when filing the petition A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/G2WC5ZQ/Shaw_Services_LLC__msnbke-25-11621__0001.0.pdf?mcid=tGE4TAMA SHELTERING ARMS: Seeks to Hire MYC & Associates as Broker --------------------------------------------------------- Sheltering Arms Children and Family Services, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ MYC & Associates, Inc. as real estate broker. The firm's services include: (a) market the Debtor's Seventh Avenue Property using such advertising, solicitation of outside brokers, and other promotional and marketing activities as may be necessary and agreed upon; (b) analyze offers and proposals from potential purchasers and offer recommendations to the Debtor in connection with any proposed transaction involving the Seventh Avenue Property; and (c) assist with the consummation of any auction sale of the Seventh Avenue Property, to the extent requested by the Debtor. The firm will receive a commission of 5 percent of the property's gross proceeds. If the Seventh Avenue Property is not sold for an amount exceeding the secured debt on the Seventh Avenue Property plus the commission, then upon the termination of the Engagement Agreement, the broker will be entitled to seek reasonable compensation for actual, necessary services rendered to the Debtor's estate by the broker, provided such compensation shall not exceed $50,000 without the advance written authorization of the Debtor. Marc Yaverbaum, a representative and employee of MYC & Associates, 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 P. Yaverbaum MYC & Associates, Inc. 1110 South Avenue, Ste. 22 Staten Island, NY 10314 Telephone: (347) 273-1258 About Sheltering Arms Children and Family Services, Inc. Founded approximately 200 years ago, Sheltering Arms (formerly Episcopal Social Services of New York, Inc.), maintained a mission to foster a society where every child and family it served was given the opportunity to succeed and thrive. Sheltering Arms Children and Family Services, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 24-41037) on March 7, 2024, listing $10 million to $50 million in both assets and liabilities. Adam T. Berkowitz, Esq., and Michael Goldberg, Esq., at Garfunkel Wild, PC represent the Debtor as counsel. SHREE AMRITAYA: Gets OK to Use Cash Collateral Until June 30 ------------------------------------------------------------ Shree Amritaya, LLC got the green light from the U.S. Bankruptcy Court for the District of Connecticut to use the cash collateral of ReadyCap Lending, LLC. The interim order authorized the company to use cash collateral of $6,865.28 per month for the period from April 1 to June 30. Cash collateral must be used in accordance with the budget. ReadyCap Lending was granted replacement liens on the collateral to protect against any diminution in the value of its collateral. A final hearing is scheduled for June 25. About Shree Amritaya LLC Shree Amritaya LLC is a real estate firm based in Branford, CT, focusing on single-asset properties. The company owns the property at 315-317 East Main Street, Branford, CT 06405, which is valued at $500,000. Shree Amritaya sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Conn. Case No. 25-30181) on February 28, 2025. In its petition, the Debtor reported total assets of $525,000 and total liabilities of $1,145,000. The Debtor is represented by: Joseph J. D'Agostino, Jr., Esq. Attorney Joseph J. D'Agostino, Jr. 1062 Barnes Road, Suite 108 Wallingford, CT 06492 Tel: 203-265-5222 Fax: 203-774-1269 Email: joseph@lawjjd.com SKYX PLATFORMS: Raises $1.88M via Preferred Stock Sale ------------------------------------------------------ SKYX Platforms Corp. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that between May 6 and 12, 2025, the Company and investors entered into Securities Purchase Agreements, and the Company expects to close on an offering, for gross proceeds before deducting transaction expenses to the Company of $1,875,000. Pursuant to such agreements, the investors are purchasing 75,000 shares of the Company's Series A-1 Preferred Stock, no par value per share, at a purchase price of $25.00 per share. The Securities Purchase Agreements contains customary representations, warranties, agreements and indemnification rights and obligations of the parties and provides the purchaser with certain registration rights. The Company intends to use the proceeds for working capital and other general corporate purposes. The foregoing summary of the Securities Purchase Agreements does not purport to be complete and is subject to, and qualified in its entirety by reference to, the full text of the Securities Purchase Agreements, copies of which are filed as Exhibit 10.1 and Exhibit 10.2 to the Current Report on Form 8-K available at https://tinyurl.com/yyxap6x2 A description of the Certificate of Designation of Rights, Preferences and Privileges of Series A-1 Preferred Stock is contained in the Company's Current Report on Form 8-K, filed with the Securities and Exchange Commission on October 7, 2024, and a description of the Articles of Amendment to the Series A-1 Certificate of Designation is contained in the Company's Current Report on Form 8-K, filed with the Securities and Exchange Commission on May 5, 2025. The foregoing summary of the Series A-1 Preferred Stock, as amended, does not purport to be complete and is subject to, and qualified in its entirety by reference to, the full text of the Series A-1 Certificate of Designation and Articles of Amendment. The representations, warranties and covenants contained in the Securities Purchase Agreement were made solely for the benefit of the parties to the Securities Purchase Agreement and may be subject to limitations agreed upon by the contracting parties. About SKYX Platforms Corp. Headquartered in Pompano Beach, Florida, SKYX Platforms Corp. develops advanced platform technologies focused on enhancing safety, quality, and ease of use in homes and buildings. With nearly 100 patents and pending applications, the Company's products are designed to improve safety and lifestyle in residential and commercial spaces. In 2023, Sky expanded by acquiring an online retailer specializing in home lighting, ceiling fans, and furnishings. The Company's technologies enable quick and safe installation of light fixtures and ceiling fans without the need to handle hazardous wires. In its report dated March 24, 2025, the Company's auditor, M&K CPAS, PLLC, issued a "going concern" qualification attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, citing the Company's accumulated deficit, negative cash flows from operations, and recurring net losses, which raise substantial doubt about its ability to continue as a going concern. SKYX reported a net loss of $35.77 million for the year ending Dec. 31, 2024, compared to a net loss of $39.73 million in 2023. As of Dec. 31, 2024, SKYX reported total assets of $65.89 million, total liabilities of $56.83 million, temporary equity of $5 million, and total equity of $4.05 million. Additionally, as of Dec. 31, 2024, SKYX had an accumulated deficit of $181.8 million. SLATE RIVER SYSTEMS: Seeks Chapter 11 Bankruptcy in Texas --------------------------------------------------------- On May 19, 2025, Slate River Systems Inc. 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. The petition states funds will be available to unsecured creditors. About Slate River Systems Inc. Slate River Systems Inc. is a company operating in the material handling and warehouse solutions industry. Slate River Systems Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-41807) on May 19, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. SOORMA TRUCKING: Unsecureds to Split $22K over 60 Months -------------------------------------------------------- Soorma Trucking, LLC, submitted an Amended Plan of Reorganization under Subchapter V dated May 5, 2025. Creditors holding allowed claims will receive distributions based upon Debtor's projected net disposable income over a period not to exceed a 60-month term. Class 18 consists of General Unsecured Claims. The allowed unsecured claims total $1,411,678.25. This Class will receive a distribution of $22,417.92. The projected dividend is to be paid over a period of sixty months, commencing in month thirteen of the Plan. This dividend shall be reduced by the Court approved administrative expense claims of the Debtor's counsel, Court appointed accounting professional (if any) and the Chapter 11 Subchapter V Trustee to the extent that said administrative expense claims exceed the amounts listed in this Plan. The Debtor may pre-pay any amounts due any creditor in this Class prior to the due dates in the Plan of Reorganization without penalty and without prior notice or Court approval unless otherwise provided for in the Plan of Reorganization. The Debtor may pre-pay any amounts due any creditor in this Class prior to the due dates in the Plan of Reorganization without penalty and without prior notice or Court approval unless otherwise provided for in the Plan of Reorganization. Debtor shall further be permitted to pay any and all distributions that are under $2,000.00 within ninety days of the Effective Dave as an administrative convenience. This Class is impaired. Equity Holder shall retain its shareholder/membership interest in the Debtor and the Debtor shall retain all legal and equitable interest in assets of this estate as all reconciliation issues have been met. Post Confirmation ownership and control shall remain with the Equity Security Holder, Saurabh Bhatti. This is a 60-month Plan with a total projected Plan yield of approximately $1,809,431.64. The total projected yield includes payment of Administrative Expenses and Priority Claims. Debtor agrees that it will make payments of not less than $1,809,431.64 over the life of the Plan which represents the Debtor's projected disposable income for that time period as required under the Code. A full-text copy of the Amended Plan dated May 5, 2025 is available at https://urlcurt.com/u?l=F3Iu5E from PacerMonitor.com at no charge. Counsel to the Debtor: Allan D. NewDelman, Esq. Allan D. NewDelman, P.C. 80 East Columbus Avenue Phoenix, AZ 85012 Tel: (602) 264-4550 Fax: (602) 277-0144 Email: anewdelman@adnlaw.net About Soorma Trucking Soorma Trucking, LLC, is a transportation and logistics provider in Litchfield Park, Ariz. The company offers, among other services, freight trucking, refrigerated freight trucking, expedited freight trucking, expedited less than truckload, logistics, retail trade trucking, and freeze protection. Soorma Trucking filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Ariz. Case No. 24-06706) on Aug. 14, 2024, with $1 million to $10 million in both assets and liabilities. Saurabh Bhatti, managing member, signed the petition. Judge Madeleine C. Wanslee presides over the case. Allan D. NewDelman, Esq., at Allan D. NewDelman, P.C., is the Debtor's legal counsel. SORENTO ON YESLER: Cash Collateral Access Extended to July 31 ------------------------------------------------------------- Sorento on Yesler Owner, LLC received another extension from the U.S. Bankruptcy Court for the Western District of Washington to use cash collateral. The court's order authorized the company to use cash collateral until July 31 to pay its expenses. This authorization will terminate early upon conversion of the company's Chapter 11 case. Sorento must not deviate from any expense item set forth in the budget by more than 10% on a monthly basis, with total expense item variance capped at 5% (except for salaries). If the company fails to meet its obligations, including payments, the secured creditor, Wells Fargo Bank, National Association, may seek emergency relief, with seven days' notice. Wells Fargo Bank About Sorento on Yesler Owner Sorento on Yesler Owner, LLC is a single asset real estate debtor (as defined in 11 U.S.C. Section 101(51B)). Sorento sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wash. Case No. 24-13217) on December 17, 2024, with $10 million to $50 million in both assets and liabilities. Judge Christopher M. Alston handles the case. Christopher L. Young, Esq., at the Law Offices of Christopher L. Young, PLLC is the Debtor's bankruptcy counsel. Wells Fargo Bank is represented by: Gregory R. Fox, Esq. James B. Zack, Esq. Todd M. Brannon, Esq. Lane Powell, PC 1420 Fifth Avenue, Suite 4200 Seattle, WA 98101 Phone: (206) 223-7000 Fax: (206) 223-7107 foxg@lanepowellc.om zackj@lanepowell.com brannont@lanepowell.com SOUTH SIDE: Lauren Goodman Named Successor Subchapter V Trustee --------------------------------------------------------------- The Acting U.S. Trustee for Region 13 appointed Lauren Goodman as successor Subchapter V trustee for South Side Convenient Care, Inc. Ms. Goodman will be paid an hourly fee of $375 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Goodman declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Lauren R. Goodman McGrath North 1601 Dodge Street, Suite 3700 Omaha, NE 68102 Phone: 402-341-3070 Email: lgoodman@mcgrathnorth.com About South Side Convenient Care South Side Convenient Care, Inc., a primary care provider in Nebraska, filed Chapter 11 petition (Bankr. D. Neb. Case No. 22-80201) on March 21, 2022, with up to $500,000 in both assets and liabilities. Judge Thomas L. Saladino oversees the case. John A. Lentz, Esq., at Lentz Law, PC, LLLC serves as the Debtor's bankruptcy counsel. Abigail Mohs is the patient care ombudsman appointed in the Debtor's Chapter 11 case. SPECIALTY CARTRIDGE: Taps Lamberth Cifelli Ellis & Nason as Counsel ------------------------------------------------------------------- Specialty Cartridge, Inc., doing business as Atlanta Arms, seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Lamberth, Cifelli, Ellis & Nason, PA as counsel. The firm will render these services: (a) advise, assist, and represent the Debtor with respect to its rights, powers, duties, and obligations in the administration of this case, and collect, preserve, and administer assets of its estate; (b) advise, assist, and represent the Debtor with regard to any claims and causes of action which the estate may have against various parties; (c) advise, assist, and represent the Debtor with regard to investigation of the desirability and feasibility of the rejection or assumption and potential assignment of any executory contracts or unexpired leases, and advise, assist, and represent it with regard to liens and encumbrances asserted against property of the estate and potential avoidance actions for the benefit of the estate, within its rights and powers under the Bankruptcy Code, and the initiation and prosecution of appropriate proceedings in connection therewith; (d) advise, assist, and represent the Debtor in connection with all applications, motions, or complaints concerning reclamation, sequestration, relief from stays, disposition or other use of assets of the estate, and all other similar matters; (e) advise, assist, and represent the Debtor with regard to the preparation, drafting, and negotiation of a plan of reorganization or liquidation and accompanying disclosure statement, or negotiation with other parties presenting a plan of reorganization or liquidation and accompanying disclosure statement; and/or to advise, assist, and represent the Debtor in connection with the sale or other disposition of any assets of the estate; (f) prepare pleadings, applications, motions, reports, and other papers incidental to administration, and to conduct examinations as may be necessary; (g) provide support and assistance to the Debtor with regard to the proper receipt, disbursement, and accounting for funds and property of the estate; (h) provide support and assistance to the Debtor with regard to the review of claims against it, the investigation of amounts properly allowable and the appropriate priority or classification of same, and the filing and prosecution of objections to claims as appropriate; (i) perform any and all other legal services incident or necessary to the proper administration of this case and the representation of the Debtor in the performance of its duties and exercise of its rights and powers under the Bankruptcy Code. The firm's counsel and staff will be paid at these hourly rates: James Craig Cifelli, Of Counsel $525 Gregory Ellis, Attorney $525 Sharon Kacmarcik, Attorney $425 J. Michael Lamberth, Of Counsel $525 G. Frank Nason IV, Attorney $425 In addition, the firm will seek reimbursement for expenses incurred. On March 18, 2025, the Debtor provided a prepetition retainer in the amount of $31,738. Mr. Nason 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: G. Frank Nason, IV, Esq. Lamberth, Cifelli, Ellis & Nason, PA 6000 Lake Forrest Drive, N.W., Suite 290 Atlanta, GA 30328 Telephone: (404) 262-7373 About Specialty Cartridge Specialty Cartridge Inc., doing business as Atlanta Arms, manufactures precision ammunition for handguns and rifles. Based in Covington, Georgia, the Company supplies law enforcement agencies, military clients, and shooting sports professionals. It operates out of a 20,000-square-foot climate-controlled facility. Specialty Cartridge Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-55193) on May 7, 2025. In its petition, the Debtor reports total assets of $15,065,301 and total liabilities of $8,137,719. The Debtor is represented by G. Frank Nason, IV, Esq., at Lamberth, Cifelli, Ellis & Nason, PA. STONE DELUXE: Section 341(a) Meeting of Creditors on June 9 ----------------------------------------------------------- On May 20, 2025, Stone Deluxe Inc. filed Chapter 11 protection in the U.S. Bankruptcy Court for the Central District of California, Santa Ana Division. 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 under Section 341(a) meeting to be held on June 9, 2025 at 01:00 PM at UST-SA1, TELEPHONIC MEETING. CONFERENCE LINE:1-866-919-0527, PARTICIPANT CODE:2240227. About Stone Deluxe Inc. Stone Deluxe Inc., operating as Stone Deluxe Tile, is a specialized design services company focusing on stone and tile products. Stone Deluxe Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-11348) on May 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 Scott C. Clarkson handles the case. The Debtors are represented by Andy C. Warshaw, Esq. TBH RESTAURANT: Seeks Subchapter V Bankruptcy in New York --------------------------------------------------------- On May 20, 2025, TBH Restaurant Group LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of New York. According to court filing, the Debtor reports between $50,000 and $100,000 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About TBH Restaurant Group LLC TBH Restaurant Group LLC is a restaurant business located in Beacon, New York. TBH Restaurant Group LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y.Case No. 25-35540) on May 20, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $50,000 and $100,000. The Debtors are represented by Randi K. Franco, Esq. at Law Offices Of Randi K. Franco. TEKFOR HOLDCO: FS KKR Marks $44.3 Million 1L Loan at 91% Off ------------------------------------------------------------ FS KKR Capital Corp. (FSK) has marked its $44,300,000 loan extended to Tekfor HoldCo (formerly Amtek Global Technology Pte Ltd) to market at $4,200,000 or 9% of the outstanding amount, according to Saratoga FSK's Form 10-K for the fiscal year ended March 31, 2025, filed with the U.S. Securities and Exchange Commission. FSK is a participant in a First Lien Senior Secured Loan to Tekfor HoldCo (formerly Amtek Global Technology Pte Ltd). The loan accrues interest at a rate of zero percent per annum. The loan matures on July 2025. FSK was incorporated under the general corporation laws of the State of Maryland on December 21, 2007 and formally commenced investment operations on January 2, 2009. The Company is an externally managed, non-diversified, closed-end management investment company that has elected to be regulated as a business development company, or BDC, under the Investment Company Act of 1940. The Company has various wholly-owned subsidiaries, including special-purpose financing subsidiaries and subsidiaries through which it holds interests in portfolio companies. FSK is led by Michael C. Forman as Chief Executive Officer, Steven Lilly as Chief Financial Officer, and William Goebel as Chief Accounting Officer. The Fund can be reach through: Michael C. Forman FS KKR Capital Corp. 201 Rouse Boulevard Philadelphia, PA 19112 Telephone: (215) 495-1150 About Tekfor HoldCo (formerly Amtek Global Technology Pte Ltd) Tekfor HoldCo is engaged in automobiles and components in the U.S. TELEFLEX INC: Rosen Law Investigates Potential Securities Claims ---------------------------------------------------------------- Why: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Teleflex Incorporated (NYSE: TFX) resulting from allegations that Teleflex may have issued materially misleading business information to the investing public. So What: If you purchased Teleflex securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses. What to do next: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=38855 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. What is this about: On February 27, 2025, during market hours, Fierce Biotech published an article entitled "Teleflex plays musical chairs, plans company split amid EUR760M Biotronik cardiovascular deal." The article stated that "Teleflex has announced a plan to split its business into two separate independent companies—and it's setting up one of its future scions with a new portfolio of cardiovascular device assets, set to be acquired from Biotronik." On this news, Teleflex's stock fell 21.6% on February 27, 2025. Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 case@rosenlegal.com www.rosenlegal.com [GN] TEXAS AUTO: Hires Keller Williams Realty Coastal Bend as Broker --------------------------------------------------------------- Texas Auto and Truck, Inc., doing business as Griffin Motors, seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to employ Keller Williams Realty Coastal Bend as real estate broker. The Debtor needs a broker to market and sell its property located at 297 & 299 Northwest Dr., Rockport, Texas. The firm will receive a commission of 6 percent of the property's gross sale price. Tracy Morris, an agent at Keller Williams Realty Coastal Bend, 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: Tracy Morris Keller Williams Realty Coastal Bend 4518 Everhart Rd., Ste. 101 Corpus Christi, TX 78411 Telephone: (361) 225-7900 About Texas Auto and Truck Texas Auto and Truck Inc., operating as Griffin Motors, is a pre-owned vehicle and RV dealership based in Lockhart, Texas, offering a wide range of inspected, quality vehicles. Texas Auto and Truck Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-10509) on April 11, 2025. In its petition, the Debtor reports total assets of $4,113,631 and total liabilities of $2,651,915. The Debtor is represented by Todd Headden, Esq. at Hayward, PLLC. TEXAS AUTO: Seeks to Hire Cheryl Seale CPA as Bookkeeper and OCP ---------------------------------------------------------------- Texas Auto and Truck, Inc., doing business as Griffin Motors, seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to employ Cheryl Seale, CPA PC as bookkeeper and an ordinary course professional (OCP). The firm will provide these services: (a) Bookkeeping Services; (b) Business Tax Return; (c) Personal Tax Return; (d) State Tax Reporting; (e) Monthly Bank and Credit Card Account Reconciliations; (f) Monthly Journal Entries, as Needed and Review of the General Ledger; (g) Monthly Financial Statement Preparation; (h) Maintenance of the System Integration with QuickBooks Online and Other Integrations; (i) Monthly Chapter 11 Operating Reports for the Court; and (j) Other Bookkeeping and Accounting Services. The firm will be paid at an hourly rate of $350 plus out-of-pocket expenses. Cheryl Seale, a certified public accountant at Cheryl Seale CPA, 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: Cheryl Seale, CPA Cheryl Seale, CPA PC 7421 Burnet Rd. Austin, TX 78757 Telephone: (512) 419-1249 About Texas Auto and Truck Texas Auto and Truck Inc., operating as Griffin Motors, is a pre-owned vehicle and RV dealership based in Lockhart, Texas, offering a wide range of inspected, quality vehicles. Texas Auto and Truck Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-10509) on April 11, 2025. In its petition, the Debtor reports total assets of $4,113,631 and total liabilities of $2,651,915. The Debtor is represented by Todd Headden, Esq. at Hayward, PLLC. THOMAS SUETA: 35 Brew Assets Up for Sale on June 12 --------------------------------------------------- Pursuant to (a) Section 9-610 of the Uniform Commercial Code as in effect in the State of New Jersey and (b) the pledge and security agreement dated as of Nov. 16, 2022, made by Thomas Sueta and Carney Vetrano ("Debtor") to 100 Mile Northeast LLC ("secured party"), secured party will offer for sale at public auction all right, title and interest of the Debtor in and to the following collateral (i) 100% of the stock of 35 Brew Inc., (ii) all furniture, fixtures and equipment owned by 35 Brew and sited at 1401 Highway 35 South, Neptune, New Jersey 07753 ("premises"), (iii) Debtor's and 35 Brew's right, title and interest in that certain plenary retail consumption liquor license no. 1334-33-011-003 issued by the Township of Neptune and currently sited at the premises, and (iv) all proceeds of the foregoing. The auction will be held on June 12, 2025, at 9:30 a.m. via web-based video conferencing or telephonic conferencing program selected by the Secured Party, access to which will be made available to qualified bidders, and in person, at 1401 Highway 35 South, Neptune, New Jersey 00753. Parties interested in bidding at the auction may, subject to executing confidentiality agreements and meeting the bidder qualifications set forth in the bidding procedures, which can be obtained by contacting Mannion Auctions LLC, 299 Broadway, Suite 1601, New York, New York 10007, obtain additional information concerning the collateral. All inquiries concerning the notice of public sale, terms and conditions of the sale should be made to Matthew Mannion, mdmannion@jpandr.com, 212-267-6698. Interested bidders must contact the auctioneer no later than 2 days before the scheduled auction to receive instructions on registering to bid incl THOMPSON ELECTRIC: Court Extends Cash Collateral Access to July 11 ------------------------------------------------------------------ Thompson Electric, Inc. received second interim approval from the U.S. Bankruptcy Court for the Middle District of Tennessee, Nashville Division, to use cash collateral. The second interim order penned by Judge Nancy King authorized the company's interim use of cash collateral through July 11 to fund its business operations. The creditors that may have liens on the company's assets are ServisFirst Bank and FCCI Insurance Company. To protect the interests of ServisFirst and FCC, Thompson Electric will provide them with replacement liens on assets it acquires after the bankruptcy filing, with the same priority and extent as their pre-bankruptcy liens. The value of the collateral is expected to be maintained or increased via continued business activity. In addition, ServisFirst will receive payments of $7,500 per week during the interim period commencing May 19. The final hearing will be held on July 8. ServisFirst Bank is represented by: Thomas H. Forrester, Esq. Gullett, Sanford, Robinson & Martin, PLLC 150 Third Avenue South, Suite 1700 Nashville, TN 37201 Phone: (615) 244-4994 Fax: (615) 256-6339 tforrester@gsrm.com; djames@gsrm.com FCCI Insurance Company is represented by: Joshua K. Chesser, Esq. Stites & Harbison, PLLC SunTrust Plaza 401 Commerce Street, Suite 800 Nashville, TN 37219 Phone: (615) 782-2202 Fax: (615) 782-2371 jchesser@stites.com About Thompson Electric Inc. Thompson Electric, Inc. is an electrical service provider based in Lebanon, Tenn., specializing in residential and commercial electrical installations, repairs and large-scale projects. Thompson Electric filed Chapter 11 petition (Bankr. M.D. Tenn. Case No. 25-01471) on April 7, 2025, listing between $1 million and $10 million in both assets and liabilities. Jon Thompson, president of Thompson Electric, signed the petition. Judge Nancy B. King oversees the case. R. Alex Payne, Esq., at Dunham Hildebrand Payne Waldron, PLLC, represents the Debtor as legal counsel. TWENTY EIGHT: Seeks to Hire Youngclaus & Company as Accountant -------------------------------------------------------------- Twenty Eight Hundred Lafayette, Inc. seeks approval from the U.S. Bankruptcy Court for the District of New Hampshire to employ Youngclaus & Company, PLLC as accountant. The firm will render these services: (a) prepare federal and state tax returns for the year ended December 31, 2024; and (b) prepare the Balance Sheet and Profit and Loss for the Debtor; (c) assist with bookkeeping, monthly operating reports, and preparation of projections for the Debtor; and (d) handle any matters with the Internal Revenue Service and/or the State of New Hampshire on behalf of the Debtor; and (e) perform all other .accounting and income tax preparation services for the Debtor. Sarah Youngclaus Smith, CPA, the primary accountant in this representation, will be paid at her hourly rate of $250. Ms. Smith 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: Sarah Youngclaus Smith, CPA Youngclaus & Company, PLLC 65 Lafayette Road, Suite 102, North Hampton, NH 03862 Telephone: (6603) 964-2772 About Twenty Eight Hundred Lafayette Established in 1992, Twenty Eight Hundred Lafayette, Inc. is a seafood restaurant with locations in Epping, Portsmouth, Salem, and North Hampton (seasonal) in New Hampshire. It conducts business under the names The Beach Plum 2 Portsmouth and The Beach Plum 3 Epping. Twenty Eight Hundred Lafayette filed Chapter 11 petition (Bankr. D.N.H. Case No. 25-10046) on January 27, 2025. In its petition, the Debtor reported assets between $50,000 and $100,000 and liabilities between $1 million and $10 million. Judge Kimberly Bacher handles the case. The Debtor tapped Eleanor Wm. Dahar, Esq., at Victor W. Dahar Professional Association as counsel and Sarah Youngclaus Smith, CPA, at Youngclaus & Company, PLLC as accountant. UNITED ASSETS: Seeks to Hire Elite Synergy Realty as Broker ----------------------------------------------------------- United Assets Corp. USA seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Sabbir Ahmed, doing business as Elite Synergy Realty, as real estate broker. The Debtor needs a broker to sell its properties located at: (a) 11-42 Welling Court., Queens, New York; and (b) 11-28 Welling Court, Queens, New York. The broker will receive a flat commission of 3 percent in the event the Queens Property is actually sold to a buyer. Sabbir Ahmed, owner of Elite Synergy Realty, 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: Sabbir Ahmed Elite Synergy Realty 7505 13th Avenue Queens, NY 11228 About United Assets Corp. USA United Assets Corp. USA filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 24-41568) on April 12, 2024. Judge Elizabeth S. Stong handles the cases. Ronald D. Weiss, PC represents the Debtor as legal counsel. V850JACKSON LLC: Hires Weissberg and Associates as Legal Counsel ---------------------------------------------------------------- V850Jackson, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to employ Weissberg and Associates, Ltd. as counsel. The firm will render these services: (a) advise and assist the Debtor with respect to its powers and duties; (b) assist the Debtor in the negotiation, formulation and drafting of a Plan of Reorganization and Disclosure Statement and represent it in the confirmation process; (c) examine claims asserted against the Debtor; (d) take such action as may be necessary with reference to claims that may be asserted against the Debtor, and prepare, on behalf it, such legal papers as may be necessary in connection with this proceeding and perform all other legal services which may be required; (e) assist and represent the Debtor in all adversary proceedings and contested matters; (f) represent the Debtor in its dealings with the Office of the United States Trustee and with creditors of the estate; and (g) assist and represent the Debtor in litigation in the State and Federal courts, where it is a party or seeking to become a party, or otherwise become involved to protect its interests and rights. The firm will be paid at an hourly rate of $475. The firm received a pre-petition advanced payment retainer in the amount of $18,000 from the Debtor. Ariel Weissberg, Esq., an attorney at Weissberg and Associates, 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: Ariel Weissberg, Esq. Weissberg and Associates Ltd. 125 South Wacker Drive, Suite 300 Chicago, IL 60606 Telephone: (312) 663-0004 Facsimile: (312) 663-1514 Email: ariel@weissberglaw.com About V850Jackson LLC V850Jackson LLC is engaged in real estate investment and development. The Company focuses on acquiring, managing, and leasing commercial properties such as office buildings and retail spaces. V850Jackson LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-06934) on May 5, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Janet S. Baer handles the case. The Debtor is represented by Ariel Weissberg, Esq. at Weisberg and Associates, Ltd. VANTAGE SPECIALTY: S&P Downgrades ICR to 'CCC+', Outlook Dev. ------------------------------------------------------------- S&P Global Ratings lowered its issuer credit rating (ICR) on Vantage Specialty Chemicals Inc. to 'CCC+' from 'B-'. The outlook is developing. S&P Said, "We also lowered our issue-level rating on the company's senior secured debt to 'CCC+' from 'B-' in line with the ICR change, while the recovery rating remains '3'. "The developing outlook reflects that we could raise, maintain, or lower our rating on Vantage depending on its ability to successfully refinance or extend the maturities of its debt. "Vantage's revolving credit facility is now current and its term loan will become current in about five months, raising refinancing risks. The majority of Vantage's capital structure is maturing in 2026, with the $89 million revolving credit facility due in April 2026 (already current) and the $816 million outstanding principal on the term loan due in October 2026. We note elevated refinancing risks in the backdrop of macroeconomic uncertainty, which could affect the company's ability to successfully execute a refinancing or a maturity-extension transaction that is favorable, despite the management's intentions to address these maturities in coming months." With the revolver maturing within the next 12 months, any outstanding balance is classified as current, limiting liquidity flexibility. As of March 31, 2025, the revolver had a $65 million balance. S&P expects liquidity to be tight for the next 12 months absent a maturity extension or refinancing of the revolver, financial support from shareholders, or unexpected external cash flows. S&P said, "We expect improving operating performance will support Vantage's debt leverage to remain between 6.5x and 8x. Our forecast for 2025 and beyond incorporates a modest EBITDA and free cash flow increase versus our prior expectations, driven by better-than-anticipated operating results in late 2024 on the back of commercial initiatives and realization of cost-saving measures. We anticipate the company will generate positive free operating cash flows (FOCF) in 2025 and 2026 and its S&P Global Ratings-adjusted debt-to-EBITDA ratio will remain between 6.5x and 8x on a weighted-average basis." The company is focused on increasing its exposure to consumer end markets, though earnings remain sensitive to overall macroeconomic activity primarily in the U.S. Over the years, Vantage has diversified its exposure by increasing its presence in end markets like food and personal care. However, Vantage's earnings remain vulnerable to macroeconomic volatility due to its exposure to cyclical industrial markets, which is partially mitigated by its exposure to the relatively less-cyclical consumer markets. The recent expansion of the company's vegetable feedstock capabilities partially mitigates its exposure to cyclical economic conditions. The company's revenue and earnings are primarily concentrated in the U.S. and its key operating facilities are located in Illinois, which underlines its high geographic concentration. A disruption of operations at any one of these locations would negatively affect operating results. S&P said, "The developing outlook reflects the possibility that we could raise, affirm, or lower the rating on Vantage within the next few quarters based on its ability to address its upcoming revolver and term loan maturities. We could raise our ratings by a notch if the company successfully addresses its maturities in a transaction that we do not consider distressed and does not impair its credit quality significantly going forward. Alternatively, we could lower our ratings if the company undertakes a transaction that we view as distressed or if we view a traditional default as likely. "We anticipate the company's operating performance will gradually improve over the next 12 months driven by commercial execution, a favorable product mix shift, and raw material cost optimization opportunities such that its S&P Global Ratings-adjusted debt to EBITDA remains between 6.5x and 8x on a weighted-average basis." S&P could downgrade Vantage within the next few quarters if: -- The company is unable to refinance its 2026 debt maturities or its liquidity weakens to a point where a specific default-scenario becomes likely; -- The company executes a transaction that S&P views as distressed; or -- The company's earnings are weaker than expected due to end-market demand weakness, increased competitive pressures, or operational disruptions at any key manufacturing facility. In such a scenario, debt to EBITDA would reach 10x or above on a sustained basis or FOCF would be significantly negative. S&P said, "We could upgrade Vantage within the next few quarters if it addresses its upcoming maturities such that there is no maturity risk for at least the next couple of years and a potential refinancing or extension does not significantly impair its credit metrics. In such a scenario, we would expect financial policies to support maintaining the company's S&P Global Ratings-adjusted debt-to-EBITDA ratio to be below 8x on a weighted average basis, FOCF to be consistently positive, and liquidity sources to be at least 1x uses." VERNON HEIGHT REALTY: Seeks Chapter 11 Bankruptcy in New York ------------------------------------------------------------- On May 19, 2025, Vernon Height Realty LLC filed Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of New York. 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 Vernon Height Realty LLC Vernon Height Realty LLC is a single asset real estate company operating in New York and Pennsylvania. Vernon Height Realty LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-20001-shl) on May 19, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100,000 and $500,000 each. VIASAT INC: James Bridenstine Resigns; Two New Directors Appointed ------------------------------------------------------------------ Viasat, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that James Bridenstine resigned from the Board of Directors. Mr. Bridenstine's resignation from the Board did not result from a disagreement with the Company. The Company expressed its gratitude to Mr. Bridenstine for his service as a director. Effective on May 9, 2025, in connection with Mr. Bridenstine's resignation, the Company reduced the number of Class II directors with terms expiring at the Company's 2025 annual meeting of stockholders to two. Additionally, the Board appointed William LaPlante and Michael Paull as directors. Dr. LaPlante and Mr. Paull will serve as Class III directors, with initial terms expiring at the Company's 2026 annual meeting of stockholders. With the appointment of Dr. LaPlante and Mr. Paull, the Board now consists of eight members, six of whom are independent directors. William LaPlante, 61, served as the Under Secretary of Defense for Acquisition and Sustainment from April 2022 to January 2025. From September 2020 to April 2022, Dr. LaPlante served as President and Chief Executive Officer of Draper Laboratory, a research and development company specializing in advanced technology solutions in national security, space exploration, health care and energy. Previously, he served as Senior Vice President and General Manager at MITRE National Security, where he oversaw the operation of the U.S. Department of Commerce's National Institute of Standards and Technology. From 2014 to 2017, Dr. LaPlante served as Assistant Secretary of the Air Force for Acquisition, Technology and Logistics. He previously spent 26 years at The Johns Hopkins University Applied Physics Laboratory, where he ultimately led the Global Engagement Department. Dr. LaPlante has been a member of several government scientific boards and commissions focused on maintaining national security, including the U.S. Strategic Command Senior Advisory Group, Naval Research Advisory Committee and Defense Science Board. Dr. LaPlante earned a B.S. degree in engineering physics from the University of Illinois, an M.S. degree in applied physics from The Johns Hopkins University and a doctorate degree in mechanical engineering from the Catholic University of America. Michael Paull, 53, currently serves as the Chief Executive Officer and a member of the board of directors of RBmedia, an audiobook publisher, which he joined in March 2024. He also serves on the board of directors of PlayOn! Sports and previously served on the board of directors of MoneyLion, Inc., a mobile banking and technology company. Mr. Paull previously served as President of Disney Streaming from 2022 to 2023 and oversaw Disney+, Hulu, ESPN+ and Star+ globally. Mr. Paull joined The Walt Disney Company in 2017 with the acquisition of Bamtech Media, where he served as CEO and a member of the board of directors. Before joining Bamtech, Mr. Paull worked from 2012 to 2017 at Amazon as Vice President, Digital Video, where he ran Amazon Channels worldwide and was responsible for its global content, product, technology, operations and marketing. During his tenure at Amazon, he also oversaw Prime Video and Amazon's TVOD business in the U.S. Mr. Paull has more than 20 years of consumer product development, technology, content distribution and acquisition and media industry experience. Before Amazon, he led Sony Music's digital business worldwide and held other senior leadership positions with Sony Pictures Entertainment, FOX Entertainment Group, and Time Warner. Mr. Paull earned a B.S. from the University of California and an M.B.A. degree from Harvard Business School. Dr. LaPlante and Mr. Paull will be compensated under the Company's non-employee director compensation policy as in effect from time to time, as most recently described in the Company's 2024 proxy statement filed with the Securities and Exchange Commission on July 26, 2024. Dr. LaPlante and Mr. Paull will also enter into the Company's standard form of director and officer indemnification agreement. About Viasat Inc. Headquartered in Carlsbad, California, Viasat, Inc. operates a consumer satellite broadband internet business, an in-flight connectivity business, and provides satellite and related communications, networking systems, and services to government and commercial customers. Inmarsat operates a satellite communications network using L-band, Ka-band, and S-band spectrum and provides voice and data services to customers on land, at sea, and in the air. As of December 31, 2024, Viasat had $15.6 billion in total assets, $10.8 billion in total liabilities, and $4.8 billion in total equity. * * * Egan-Jones Ratings Company on November 5, 2024, maintained its 'CCC+' foreign currency and local currency senior unsecured ratings on debt issued by Viasat, Inc. WASTE SERVICES: FS KKR Marks $60.3-Mil. 1L Loan at 39% Off ---------------------------------------------------------- FS KKR Capital Corp. (FSK) has marked its $60,300,000 loan extended to Waste Services Group Pty. Ltd. to market at $30,700,000 or 61% of the outstanding amount, according to Saratoga FSK's Form 10-K for the fiscal year ended March 31, 2025, filed with the U.S. Securities and Exchange Commission. FSK is a participant in a First Lien Senior Secured Loan to Waste Services Group Pty Ltd. The loan accrues interest at a rate of 5% per annum. The loan matures on March 2032. FSK was incorporated under the general corporation laws of the State of Maryland on December 21, 2007 and formally commenced investment operations on January 2, 2009. The Company is an externally managed, non-diversified, closed-end management investment company that has elected to be regulated as a business development company, or BDC, under the Investment Company Act of 1940. The Company has various wholly-owned subsidiaries, including special-purpose financing subsidiaries and subsidiaries through which it holds interests in portfolio companies. FSK is led by Michael C. Forman as Chief Executive Officer, Steven Lilly as Chief Financial Officer, and William Goebel as Chief Accounting Officer. The Fund can be reach through: Michael C. Forman FS KKR Capital Corp. 201 Rouse Boulevard Philadelphia, PA 19112 Telephone: (215) 495-1150 About Waste Services Group Pty. Ltd. Waste Services Group Pty. Ltd. is engaged in providing commercial and professional services in the U.S. WE LOVE: Seeks to Hire Darby Law Practice as Bankruptcy Counsel --------------------------------------------------------------- We Love Dogs, LLC seeks approval from the U.S. Bankruptcy Court for the District of Nevada to employ Darby Law Practice, Ltd. as counsel. The firm will render these services: (a) advise the Debtor of its rights, powers and duties in the continued operation of business and management of its properties; (b) take all necessary action to protect and preserve the Debtor's estate; (c) prepare on behalf of the Debtor all necessary legal papers in connection with the administration of its estate; (d) attend meetings and negotiations with the Subchapter 5 trustee, representatives of creditors, equity holders or prospective investors or acquirers and other parties in interest; (e) appear before the court, any appellate courts and the Office of the United States Trustee to protect the interests of the Debtor; (f) pursue approval of confirmation of a plan of reorganization and approval of the corresponding solicitation procedures and disclosure statement; and (g) perform all other necessary legal services in connection with the Chapter 11 case. Kevin Darby, Esq., the primary attorney in this representation, will be billed at his hourly rate of $550. The brother of the Debtor's principal paid Darby Law Practice a retainer fee in the amount of $7,800. Mr. Darby 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: Kevin A. Darby, Esq. Darby Law Practice, Ltd. 499 W. Plumb Lane, Suite 202 Reno, NV 89509 Telephone: (775) 322-1237 Facsimile: (775) 996-7290 Email: kevin@darbylawpractice.com About We Love Dogs We Love Dogs, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Nev. Case No. 25-50420) on May 8, 2025, listing under $1 million in both assets and liabilities. Kevin A. Darby, Esq., at Darby Law Practice, Ltd. serves as the Debtor's counsel. WEBB FAMILY: Seeks to Hire Craig M. Geno as Bankruptcy Counsel -------------------------------------------------------------- Webb Family Medical Clinic, PLLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Mississippi to employ the Law Offices of Craig M. Geno, PLLC as counsel. The firm will render these services: (a) advise and consult with the Debtor regarding questions arising from certain contract negotiations which will occur during the operation of business; (b) evaluate and attack claims of various creditors who may assert security interests in the assets and who may seek to disturb the continued operation of the business; (c) appear in, prosecute, or defend suits and proceedings, and take all necessary and proper steps and other matters and things involved in or connected with the affairs of the estate of the Debtor; (d) represent the Debtor in court hearings and assist in the preparation of contracts, reports, accounts, petitions, applications, orders and other papers and documents as may be necessary in this proceeding; (e) advise and consult with the Debtor in connection with any reorganization plan which may be proposed in this proceeding and any matters concerning it which arise out of or follow the acceptance or consummation of such reorganization or its rejection; and (f) perform such other legal services on behalf of the Debtor as they become necessary in this proceeding. The firm will be paid at these hourly rates: Craig Geno, Attorney $500 Associates $275 Paralegals $250 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $17,000 from the Debtor. Mr. Geno 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: Craig M. Geno, Esq. Law Offices of Craig M. Geno, PLLC 601 Renaissance Way, Suite A Ridgerland, MS 39157 Telephone: (601) 427-0048 Facsimile: (601) 427-0050 Email: cmgeno@cmgenolaw.com About Webb Family Medical Clinic Webb Family Medical Clinic, PLLC sought relief under Subchapter V of Chapter 11 of the Bankruptcy Code (Bankr. N.D. Miss. Case No. 25-11479) on May 8, 2025, listing under $1 million in both assets and liabilities. The Law Offices of Craig M. Geno, PLLC serves as the Debtor's counsel. WHISKEY RANCH: Unsecured Creditors Will Get 100% in Sale Plan ------------------------------------------------------------- Whiskey Ranch Estates, LLC, filed with the U.S. Bankruptcy Court for the Eastern District of Washington a Disclosure Statement describing Chapter 11 Plan dated May 6, 2025. The Debtor is a corporation incorporated under the laws of the State of Washington, and authorized to do business in the State of Washington. Stavros Anastasiou owns 50% and Colleen Anastasiou owns 50% of the equity interests in the Debtor. The primary assets in this bankruptcy case are 39 lots of undeveloped property in Chelan, WA 98816, located at Northshore Division II Lots 2-40 (the "Property"). The Property has a stated value in the bankruptcy schedules of $11,130,000. The Property has not completed horizontal completion, but is poised to do so, and it is the Debtor's understanding that once this occurs, there will be competitive bidding by parties to acquire the Property. Here previously in September 2024, the secured creditor Gregg Smith/Sig Ventures, LLC selected Resource Transition Consultants to head up a state court receivership in King County to administer the Property. King County Superior Court, Court Case No. 24-2-21469-1. The receiver then undertook an expedited sales process and within 45 days (listed November 14, 2024), proposed to surrender the Property back to Smith for credit bid of $6.2 million, despite an appraised value, that was substantially higher. Since the petition date, there has been a claims bar deadline, and two professional employment applications have been filed, and currently pending is a motion for relief from stay from the secured lender, and a financing motion by the Debtor in order to facilitate the completion of the Project. The cornerstone of the Plan is to sell the Property free and clear of liens for the highest cash price, once horizontal completion of the lots is completed and the Plat has been approved. Class 5 consists of all non-priority unsecured claims allowed under section 502 of the Code. Following the Effective Date, Class 5 claimants will receive their pro rata share of the proceeds available following the sale of the Property pursuant to the Plan. The allowed unsecured claims total $1,510,293.74. This Class will receive a distribution of 100% of their allowed claims. This class is impaired and may vote on the Plan. Class 6 consists of the equity interests in the Debtor. Equity interest holders may not vote on the Plan. Equity interests will receive all remaining funds, if any, after payment in full is made under the Plan to Classes 1 through 5. Plan payments will be funded by the proceeds of a sale of the Real Property. The sale is expressly contemplated to occur prior to the 12th month following the Effective Date. Upon sale, all allowed claims under this Plan shall be paid. The Debtor reasonably projects that there will be sufficient funds from the foregoing sources to pay each class of claims in full, subject to the anticipated favorable outcome of the adjudication of the Class 2 claim. A full-text copy of the Disclosure Statement dated May 6, 2025 is available at https://urlcurt.com/u?l=dLxzXH from PacerMonitor.com at no charge. About Whiskey Ranch Estates Whiskey Ranch Estates, LLC, owns 39 lots of undeveloped property in Chelan, WA 98816, located at Northshore Division II Lots 2-40. On Jan. 17, 2025, a group of creditors including Mi Tierra Real Estate Investments, Inc., J&K Earthworks, Inc. and Triumph Asset Management, LLC filed involuntary Chapter 11 petition against Whiskey Ranch Estates (Bankr. E.D. Wash. Case No. 25-00095) on January 17, 2025. The Debtor did not oppose the involuntary petition, saying that it now wishes to proceed with a Chapter 11 bankruptcy. As a result, an order for relief for the Chapter 11 case was entered on Jan. 22, 2025. Whiskey Ranch Estates is represented by: Benjamin A. Ellison, Esq. Salish Sea Legal, PLLC 2212 Queen Anne Ave N., No. 719 Seattle, WA 98109 Tel: 206-257-9547 Email: salishsealegal@outlook.com WHITNEY OIL & GAS: Court OKs Interim Use of Cash Collateral ----------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of Louisiana granted Whitney Oil & Gas, LLC interim authorization to use cash collateral. The interim order authorized the company to use cash collateral through June 18 in accordance with its budget. As adequate protection, holders of oil and gas liens under the Louisiana Oil Well Lien Act were granted replacement liens on the company's post-petition assets. Lienholders will also receive payments as set forth in the budget and will be granted a superpriority administrative expense claim. The next hearing is set for June 18. About Whitney Oil & Gas Whitney Oil & Gas, LLC operates in the oil and gas extraction industry. The company is based in Houston, Texas. Whitney Oil & Gas filed Chapter 11 petition (Bankr. E.D. La. Case No. 23-11873) on Oct. 26, 2023, with $1 million to $10 million in both assets and liabilities. Judge Meredith S. Grabill oversees the case. Douglas S. Draper, Esq., at Heller, Draper & Horn, LLC is the Debtor's legal counsel. WOODHAVEN MEDICAL: Voluntary Chapter 11 Case Summary ---------------------------------------------------- Debtor: Woodhaven Medical Realty Group, Inc. 164-01 Goethals Avenue Jamaica NY 11432 Business Description: Woodhaven Medical is a single-asset real estate debtor, as defined in 11 U.S.C. Section 101(51B). Chapter 11 Petition Date: May 22, 2025 Court: United States Bankruptcy Court Eastern District of New York Case No.: 25-42519 Judge: Hon. Elizabeth S Stong Debtor's Counsel: Peter M. Zirbes, Esq. PETER M. ZIRBES, ESQ., P.C. 116-27 Queens Boulevard Forest Hills NY 11375 Tel: 718-544-6300 E-mail: pmzesq@gmail.com Estimated Assets: $500,000 to $1 million Estimated Liabilities: $1 million to $10 million Lalita Mansukhani signed the petition as officer. The petition was filed without the Debtor's 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/XUC5QUA/Woodhaven_Medical_Realty_Group__nyebke-25-42519__0001.0.pdf?mcid=tGE4TAMA WW INT'L: Disclosure & Plan Combined Hearing Set for June 17 ------------------------------------------------------------ The U.S. Bankruptcy Court for the District of Delaware will hold a combined hearing on June 17, 2025, at 1:00 p.m. (Prevailing Eastern Time) before the Hon. Craig T. Goldblatt in Courtroom No. 7, 824 North Market Street, 3rd Floor, Wilmington, Delaware, to consider approval of the adequacy of the disclosure statement explaining the joint prepackaged Chapter 11 plan of reorganization filed by WW International Inc. and its debtor-affiliates, and confirm the Debtors' Chapter 11 plan of reorganization. Objections to the approval of the disclosure statement and confirmation of the plan, if any, is on June 6, 2025, at 4:00 p.m. (Prevailing Eastern Time). The Debtors' Plan contemplates, among other things, a comprehensive financial restructuring of the Debotrs that will reduce the Debotrs' outstanding funded indebtedness by approximately $1.15 billion and annual interest expense by approximately $50 million. The restructuring contemplated by the Restructuring Support Agreement and the Plan will allow the Debotrs to significantly strengthen its financial foundation, further invest in its growth strategy, and better serve its millions of members around the world. Critically, as this restructuring is a pure "balance sheet restructuring," Debotrs do not expect the transactions set forth in the Plan to have any impact on the Debotrs' valued customers , product offerings, programming, vendors, employees or operations. Key components of the Plan are as follows: a) Holders of First Lien Claims shall receive their pro rata share, of (i) the New Takeback Debt, provided that the New Term Loans Creditors shall receive the New Term Loans and the New Notes Creditors shall receive the New Notes; and (ii) subject to the proviso in the next sentence, 91% of the New Common Equity, subject to dilution by the MIP. Under the Bankruptcy Code, the Holders of First Lien Claims are entitled to 100% of the New Common Equity, but the Holders of the First Lien Claims, by entering into the Restructuring Support Agreement, have agreed to voluntarily reallocate 9% of the New Common Equity (pre-dilution from the MIP) to Holders of Existing Equity Interests; provided that, if the Milestones set forth in the Restructuring Support Agreement have not been met, the 9% of New Common Equity voluntarily reallocated to the Holders of the Existing Equity Interests shall be automatically forfeited to the Holders of First Lien Claims, who shall then receive 100% of the New Common Equity on a pro rata basis on the Effective Date. b) Holders of Existing Equity Interests shall have all Existing Equity Interests cancelled, released, and extinguished and of no further force and effect and the Holders of Existing Equity Interests shall be voluntarily allocated 9% of the New Common Equity on a pro rata basis, from New Common Equity that the Holders of the First Lien Claims would otherwise be entitled to under the Bankruptcy Code pursuant to the Initial Reallocation; provided that, if the Milestones set forth in the Restructuring Support Agreement have not been met, the 9% of New Common Equity voluntarily reallocated to the Holders of the Existing Equity Interests shall be automatically forfeited to the Holders of First Lien Claims, who shall then receive 100% of the New Common Equity on a pro rata basis on the Effective Date, pursuant to the Subsequent Reallocation. c) All Allowed Administrative Claims, Allowed Priority Tax Claims, and Allowed Other Priority Claims shall be paid in full in Cash or receive such other treatment that renders such Claims Unimpaired. d) With the consent of the Required Consenting Creditors, All Allowed Other Secured Claims shall be paid in full in Cash or receive such other treatment that renders such Claims Unimpaired e) All outstanding and undisputed General Unsecured Claims will be Unimpaired by the restructuring transactions contemplated by the Plan unless otherwise agreed to by the Debtors and the Holder of such General Unsecured Claim with the consent of the Required Consenting Creditors. f) Each Intercompany Claim and each Intercompany Interest, at the option of the Debtors, with the consent of the Required Consenting Creditors (not to be unreasonably withheld), shall be (i) Unimpaired and Reinstated or (ii) Impaired and canceled and released without any distribution. g) The Plan includes customary releases and exculpatory and injunctive protection, including consensual third-party releases in favor of the Released Parties, which includes the Debtors, the Reorganized Debtors, the Agents, the Consenting Creditors, all Holders of Claims and Interests that elect to opt in to the Third-Party Releases set forth in the Plan, and each Related Party of the foregoing parties, provided that that in each case, an Entity or Person shall not be a Released Party if it timely files with the Bankruptcy Court on the docket of the Chapter 11 Cases an objection to the third-party releases contained in the Plan that is not withdrawn or otherwise resolved before Confirmation. Treatment of Claims Estimated Estimated Class Status Amount Recovery ----- ------ --------- --------- Other Unimpaired N/A 100% Secured Other Unimpaired N/A 100% Priority First Impaired $1,620,000,000 34%- 57% Lien General Unimpaired $38,100,000 100% Unsec. Inter- Unimpaired/ N/A 100% company Impaired Equity Impaired 80,280,308 of Pro Rata Interests outstanding share of shares of 9% of the Existing New Common Equity Equity Interests Copies of the Plan, the Disclosure Statement, and related documents may be obtained free of charge by visiting the website maintained by the Debtors' notice, claims and solicitation agent, Kroll Restructuring Administration LLC, at https://restructuring.ra.kroll.com/WeightWatchers/ or by contacting the Debtors' proposed counsel (Debbie Laskin, paralegal, tel: 302-571-6600; dlaskin@ycst.com). You may also obtain copies of any pleadings filed in these Chapter 11 Cases for a fee via PACER at: https://www.deb.uscourts.gov. Capitalized terms used but not defined herein have the meanings ascribed to such terms in the Plan or the Disclosure Statement, as applicable. A full-text copy of the disclosure statement is available for free at https://tinyurl.com/28r79bhe A full-text copy of the joint prepackaged plan is available for free at https://tinyurl.com/murjnjz6 About WW International Inc. WW International, Inc. provides weight control programs. It offers subscriptions for commitment plans that give their clients access to meetings and online subscriptions and give their members guidance and access to a supportive community to help enable them for healthy habits. WW International filed a Chapter 11 petition (Bankr. D. Del. Case No. 25-10829) on May 6, 2025. In the petition signed by Felicia DellaFortuna, chief financial officer, the Debtor disclosed between $1 billion and $10 billion in both assets and liabilities. Judge Craig T. Goldblatt oversees the case. The Debtor is represented by Christin Cho, Esq. and Simon Franzini, Esq., at Dovel & Luner, LLP. WW INTERNATIONAL: Chapter 11 Filing Prompts Nasdaq Delisting Notice ------------------------------------------------------------------- WW International, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that on May 9, 2025, the Company received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC notifying the Company that, pursuant to Nasdaq Listing Rules 5101, 5110(b) and IM-5101-1, Nasdaq had determined to delist the Company's common stock as a result of the Company and certain of its subsidiaries commencing voluntary prepackaged cases under chapter 11 of title 11 of the United States Code, on May 6, 2025. Pursuant to Nasdaq listing rules, the Company has the right to appeal Nasdaq's delisting determination. The Notice informed the Company of Nasdaq's decision to suspend trading of the Company's common stock on May 16, 2025 and file a Form 25-NSE with the Securities and Exchange Commission to effect the delisting of the Company's common stock unless the Company requests an appeal of this determination. The Company intends to seek to list, on Nasdaq or another national stock exchange, the new common equity of the reorganized Company that is expected to be issued pursuant to the plan of reorganization for the Chapter 11 Cases on or as soon as possible after the emergence from the Chapter 11 Cases. The Company anticipates that following suspension from trading, its common stock will commence trading on the Pink Current Market, operated by OTC Markets Group. The transition to the over-the-counter market is not expected to affect the Company's business operations. The Company can provide no assurance that the common stock will commence or continue to trade on this market, whether broker-dealers will continue to provide public quotes of the common stock on this market, whether the trading volume of the common stock will be sufficient to provide for an efficient trading market or whether quotes for the common stock will continue on this market in the future. About WW International Inc. WW International, Inc. provides weight control programs. It offers subscriptions for commitment plans that give their clients access to meetings and online subscriptions and give their members guidance and access to a supportive community to help enable them for healthy habits. WW International filed Chapter 11 petition (Bankr. D. Del. Case No. 25-10829) on May 6, 2025. In the petition signed by Felicia DellaFortuna, chief financial officer, the Debtor disclosed between $1 billion and $10 billion in both assets and liabilities. Judge Craig T. Goldblatt oversees the case. The Debtor is represented by Christin Cho, Esq. and Simon Franzini, Esq., at Dovel & Luner, LLP. WW INTERNATIONAL: Galloway Capital Holds 2.87% Equity Stake ----------------------------------------------------------- Galloway Capital Partners, LLC and Bruce Galloway disclosed in a Schedule 13D filed with the U.S. Securities and Exchange Commission that as of May 9, 2025, they beneficially owned 2,299,000 shares of WW International, Inc.'s Common Stock, representing approximately 2.87% of the shares outstanding. Galloway Capital Partners, LLC acquired 2,999,000 shares of Common Stock in open market purchases from June 2024 through April 2025. The aggregate purchase price for the shares of Common Stock is approximately $.445 per share. Such shares of Common Stock were purchased with investment capital of Galloway Capital Partners, LLC and Mr. Galloway. Galloway Capital may be reached through: Bruce Galloway, Managing Member Galloway Capital Partners, LLC 650 NE 2nd Avenue, 3007, Miami, FL, 33132 Tel: (917) 405-4591 A full-text copy of Galloway Capital's SEC report is available at: https://tinyurl.com/3reknrd5 About WW International Inc. WW International, Inc. provides weight control programs. It offers subscriptions for commitment plans that give their clients access to meetings and online subscriptions and give their members guidance and access to a supportive community to help enable them for healthy habits. WW International filed Chapter 11 petition (Bankr. D. Del. Case No. 25-10829) on May 6, 2025. In the petition signed by Felicia DellaFortuna, chief financial officer, the Debtor disclosed between $1 billion and $10 billion in both assets and liabilities. Judge Craig T. Goldblatt oversees the case. The Debtor is represented by Christin Cho, Esq. and Simon Franzini, Esq., at Dovel & Luner, LLP. WW INTERNATIONAL: Stock Transfer Protocol Approved on Interim ------------------------------------------------------------- The U.S. Bankruptcy Court for the District of Delaware entered an interim order establishing procedures with respect to transfers in the beneficial ownership of share of common stock of WW International Inc. and its debtor-affiliates. A final hearing to approve the Debtors' request is set for June 4, 2025, at 10:00 a.m. (prevailing Eastern Time). Objections to the final approval of the Debtors' request, if any, is May 23, 2025, at 4:00 p.m. (prevailing Eastern Time). In certain circumstances, the procedures restrict transactions involving, and require notices of the holdings of and proposed transactions by, any person, group of persons, or entity that either (i) is a Substantial Stockholder of the Common Stock or (ii) as a result of such a transaction, would become a Substantial Stockholder of the Common Stock. For purposes of the procedures, a "Substantial Stockholder" is any person or entity (within the meaning of applicable regulations promulgated by the U.S. Department of the Treasury, including certain persons making a coordinated acquisition of stock) that beneficially owns -- including options to acquire and direct or indirect ownership -- at least 3,813,315 shares of Common Stock (representing approximately 4.75% of all issued and outstanding shares of Common Stock as of April 29, 2025). Any prohibited acquisition or other transfer of Common Stock (including options to acquire beneficial ownership of Common Stock) will be null and void ab initio and may lead to contempt, compensatory damages, punitive damages, or sanctions being imposed by the Bankruptcy Court. About WW International Inc. WW International, Inc., provides weight control programs. It offers subscriptions for commitment plans that give their clients access to meetings and online subscriptions and give their members guidance and access to a supportive community to help enable them for healthy habits. WW International filed Chapter 11 petition (Bankr. D. Del. Case No. 25-10829) on May 6, 2025. In the petition signed by Felicia DellaFortuna, chief financial officer, the Debtor disclosed between $1 billion and $10 billion in both assets and liabilities. Judge Craig T. Goldblatt oversees the case. The Debtor is represented by Christin Cho, Esq. and Simon Franzini, Esq., at Dovel & Luner, LLP. [] Northgate Auctions New York Mixed-Used Property -------------------------------------------------- Northgate Real Estate Group held a public auction of 5,320 sf 4-story mixed-used building located at 47 E. 30th Street, New York, New York. The real property is located a walking distance from the prime and shopping, dining, nightlife, entertainment, and Madison Square Park. Further information regarding the sale, contact Greg Corbin of Northgate Real at Gcorbin@northgatereg.com. ********* 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. 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