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250805.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, August 5, 2025, Vol. 29, No. 216 Headlines 1300 DESERT: Seeks Approval to Hire Colliers as Property Manager 5902 HUDSON AVE: Seeks to Hire Shafferman & Feldman as Counsel 6 SUNSET LANE: Seeks to Hire O'Brien Realty as Realtor 729-731 MEEKER: Taps FIA Capital Partners as Restructuring Advisor 98TH TRUST: Seeks Chapter 11 Bankruptcy in New York ALIERA COMPANIES: Court Narrows Claims in Moeller Adversary Case ALTAR PDX: Gets Final OK to Use $50K in Cash Collateral AMICI MONROE: Employs Keck Legal as Legal Counsel ANCHOR CONSTRUCTION: Hires Brooks Harrison & Cayer as Accountant AUTO HOUSE: Seeks to Tap Swindoll Janzen Hawk & Loyd as Accountant AVALON GLOBOCARE: Issues $300K of Series C Preferred Shares to MHF BEDMAR LLC: Taps Wilson Sonsini as Special Conflicts Counsel BERRY CORP: S&P Affirms 'CCC+' ICR Then Withdraws Rating BISHOP OF FRESNO: Hires GlassRatner Advisory as Financial Advisor BISHOP OF FRESNO: Taps McCormick Barstow Sheppard Wayte as Counsel CALIFORNIA CASUALTY: A.M. Best Affirms B(Fair) FS Rating CENTER FOR SPECIAL: Trustee Taps Underwood Murray as Legal Counsel CENTRAL HOUSEWARES: Updates Restructuring Plan Disclosures CENTRAL RENT-ALL: Case Summary & 16 Unsecured Creditors CHAMPIONS ONCOLOGY: Reports $4.7 Million Net Income in FY25 CIBUS INC: Cuts 34 Jobs to Focus on Commercial Opportunities CLEAN ENERGY: Sells Note, Shares for $175K in Deal With Firstfire COMMUNITY HEALTH: Kevin Hammons to Succeed CEO Tim Hingtgen COMTECH TELECOMMUNICATIONS: Magnetar Financial Holds 41.62% Stake COMTECH TELECOMMUNICATIONS: White Hat Entities Hold 9.99% Stake CUBCOATS ACQUISITION: Case Summary & 15 Unsecured Creditors CVB INC: Suppliers Seeks Involuntary Chapter 7 Bankruptcy in Utah CWB REALTY: Unsecured Creditors Will Get 5% of Claims in Plan D LASSEN: Court Extends Cash Collateral Access to Oct. 20 DANIEL TRUCKING: Seeks to Hire Gutnicki as Co-Bankruptcy Counsel DFND SECURITY: Case Summary & Five Unsecured Creditors DIAMOND COMIC: Seeks to Extend Plan Exclusivity to Oct. 29 DORMIFY INC: Plan Exclusivity Period Extended to September 17 DYNASTY SONG: Seeks to Tap Farsad Law Office as Bankruptcy Counsel DYNASTY TANG: Seeks to Tap Farsad Law Office as Bankruptcy Counsel EMBLEMHEALTH INC: A.M. Best Affirms C(Weak) FS Rating ENDO INC: S&P Raises ICR to 'BB-', Off CreditWatch Positive ENDO INT'L: Plan Administrator Wins Bid to Reclassify Claims ENDRA LIFE: Launches Crypto Treasury Strategy, Forms Advisory Board EXPEDITOR SYSTEMS: Court Allows $21,910 in Attorney Fees, Costs FCI SAND: Seeks $1.5MM DIP Loan From Sterling ICF FRISCO BAKING: Hires Hahn Fife & Company as Accountants FUTURE FINTECH: Jian Ke, FT Global Hold 7.15% Equity Stake GOLDEN TEMPLE: Seeks to Hire Dura Services LLC as Accountant GWG HOLDINGS: Bondholders Want Atty. Ousted in Judge Roman Scandal HALL OF FAME: Resolves Rent Payment Default With CH Capital Advance HARBOR FREIGHT: S&P Affirms 'BB-' ICR, Off CreditWatch Negative HEALTHY EXTRACTS: Completes Acquisition of Gummy USA HUNTINGTON GLEN: Employs A.Y. Strauss LLC as Legal Counsel HYPERSCALE DATA: Issues 2.95M Class A Common Shares via Conversions INCAR GROUP: Seeks to Hire Carlos Alberto Ruiz as Legal Counsel IR4C INC: Seeks Approval to Tap Saunders Real Estate as Broker JP MORGAN 2025-CES3: S&P Assigns B (sf) Rating on Cl. B-2 Notes JPK NEWCO: Unsecureds to Get Share of Income for 60 Months KLIMA CONTROL: Seeks to Hire Accounting Litigation as Accountant LIGHT OF HOPE: Seeks Approval to Tap Agentis PLLC as Counsel LULAV PROPERTIES: Court Stays Rodriguez Case Due to Bankruptcy MALLINCKRODT PLC: S&P Affirms 'BB-' ICR on Merger With Endo MARELLI AUTOMOTIVE: Committee Taps FTI as Financial Advisor MARELLI AUTOMOTIVE: Committee Taps Morris James as Co-Counsel MARELLI AUTOMOTIVE: Committee Taps Paul Hastings as Counsel MARIN SOFTWARE: Dismisses Grant Thornton as Auditor MATADOOR RESTAURANT: Gets Interim OK to Use Cash Collateral MATER ACADEMY OF NEVADA: S&P Rates Charter School Rev. Bonds 'BB' MAVERICK RESTAURANT: Gets Interim OK to Use Cash Collateral MERIT STREET: Seeks to Hire Sidley Austin LLP as Attorney MOBIQUITY TECHNOLOGIES: Registers 2.8M Shares for Resale via ELOC MORVATT ENTERPRISES: Trustee Hires Herron Auction as Auctioneer MOSAIC SUSTAINABLE: Committee Seeks to Hire DLA Piper as Counsel MOSAIC SUSTAINABLE: Committee Seeks to Tap FTI as Financial Advisor MULBERRY GROUP: Hires Marsh Atkinson & Brantley as Special Counsel MULBERRY GROUP: Seeks to Hire David F. Cooper as Special Counsel NAUTICA'S EDGE: Unsecureds to be Paid in Full over 36 Months NIKOLA CORP: Hyroad Energy to Buy IP, Remaining EV Fleet NIKOLA CORP: Seeks Court Ok to Lower Priority $13MM Investor Claims NORTIA LOGISTICS: Seeks to Tap Gutnicki as Co-Bankruptcy Counsel ORION MENTAL: Seeks to Extend Plan Filing Deadline to November 24 PAWLUS DENTAL: Gets Final OK to Use Cash Collateral PRAIRIE EYE: Seeks Court Approval to Hire Sikich as Accountant PRINCE LAND: Case Summary & 15 Unsecured Creditors PROFESSIONAL DIVERSITY: Names Xun Wu as CEO, Expands Board to Seven PROFESSIONAL MAIL: Employs Country Boys Auction as Auctioneer RAFTER H FARM: Gets OK to Use Cash Collateral Until Oct. 31 RAS DATA: Voluntary Chapter 11 Case Summary RAVI GI: Examiner Hires Bernstein-Burkley as Special Counsel RED DOOR PIZZA: Gets Interim OK to Use Cash Collateral RED DOOR SANDWICH: Gets Interim OK to Use Cash Collateral RED ROCK MEGA: Inks Deal to Use Lender's Cash Collateral RICHMOND BELLY: Gets Extension to Access Cash Collateral RIO DEL PILAR: Case Summary & Six Unsecured Creditors RITE AID CORP: Files $90MM Bankruptcy Clawback Suit vs. McKeeson ROCKY MOUNTAIN: Transfers Listing to Nasdaq Capital Market ROGUE SMOOTHIES: Gets OK to Use $439K in Cash Collateral SCCY INDUSTRIES: Seeks Chapter 11 Bankruptcy in Florida SCILEX HOLDING: Amends Merger Terms for Semnur–Denali Agreement SCILEX HOLDING: Inks $100M Equity Purchase Deal With Tumim Stone SCILEX HOLDING: Signs Deal to Repurchase Oramed Warrants for $27M SCOTTS MIRACLE-GRO: S&P Alters Outlook to Pos., Affirms 'B+' ICR SHIVANI CORP: Unsecureds Will Get 1.50% of Claims in Plan SLEEP FIT: Seeks Chapter 7 Bankruptcy, Closes 15 Retail Stores SOLEPLY LLC: Amends Vehicle Loan Claims Details SONDER COUNSELING: Gets Final OK to Use Cash Collateral SPLENDIDLY BLENDED: Gets Final OK to Use Cash Collateral STERLING GARDENS: Seeks Chapter 11 Bankruptcy in New Jersey SUGARLOAF VENTURES: Trustee Hires BMO Capital as Investment Banker T14-15 LLC: Seeks to Tap Nardella & Nardella as Bankruptcy Counsel TILSON TECHNOLOGY: Asks Court OK for $4.2MM Broadband Sale TOMMY'S FORT: Court Confirms First Amended Joint Chapter 11 Plan TRINITY AUTOMOTIVE: Unsecureds Will Get 23% Dividend in Plan VENTURE GLOBAL: S&P Assigns 'BB+' Rating on Senior Secured Notes VERRICA PHARMACEUTICALS: Shares Now Trading on Split-Adjusted Basis VIEWBIX INC: Registers Possible Resale of Up to 1.85M Shares VIVAKOR INC: Appoints Kimberly Hawley as EVP, CFO and Treasurer VIVAKOR INC: CFO Resigns Over Alleged Breach of Employment Contract WAG! GROUP: Seeks Approval to Hire Ordinary Course Professionals WAG! GROUP: Seeks to Hire Epiq as Claims and Noticing Agent WELTY SERVICES: Hires FoxLaw Corporation as General Counsel WFO LLC: Trustee Seeks to Tap South Texas as Real Estate Broker WFO LLC: Trustee Seeks to Tap Trinity River Advisors as Accountant WHITEHALL PHARMACY: Seeks to Hire Davidson Law Firm as Counsel WI-FI WHEELING: Seeks Court Approval to Hire Bankruptcy Counsel WILDFANG HOLDINGS: Hires Wildfang Holdings as Bankruptcy Counsel WINDTREE THERAPEUTICS: Secures $520M for BNB Treasury Strategy WOLFSPEED INC: Seeks to Tap Ordinary Course Professionals WOODCREST CONDOMINIUMS: Hires Whiteford Taylor as Legal Counsel ZAHAV VENTURES: Seeks to Hire Better Mgmt as Property Manager ZEN JV: Hires Latham & Watkins LLP as Legal Counsel ********* 1300 DESERT: Seeks Approval to Hire Colliers as Property Manager ---------------------------------------------------------------- 1300 Desert Willow Road, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to employ New Mexico Real Estate Advisors, Inc., doing business as Colliers, as property manager. The firm will assume primary responsibility for all aspects of the property's management and operation, including property inspections, enforcement of lease terms and building rules and regulations, ensuring that the property complies with applicable laws, regulations and ordinances, building maintenance and repairs and tenant billing. The firm will receive a management fee of $1,800 per month plus applicable New Mexico Gross Receipts Tax for the current tenant. The agreement further provides for an escalation in the minimum management fee of 3 percent on each anniversary of the agreement. Bill Robertson, senior vice president at Colliers, 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: Bill Robertson Colliers 5051 Journal Center Blvd. NE, Ste. 200 Alburquerque, NM 87108 About 1300 Desert Willow Road 1300 Desert Willow Road, LLC owns a property at 1300 Desert Willow Road in Los Lunas, New Mexico, valued at $40 million. 1300 Desert Willow Road sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-11375) on June 22, 2025. In its petition, the Debtor reported between $10 million and $50 million in assets and liabilities. Judge Philip Bentley oversees the case. The Debtor is represented by H. Bruce Bronson, Esq., at Bronson Law Offices, PC. 5902 HUDSON AVE: Seeks to Hire Shafferman & Feldman as Counsel -------------------------------------------------------------- 5902 Hudson Ave LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Shafferman & Feldman LLP as legal counsel. The firm will render these services: (a) advise the Debtor with respect to its powers and duties under the Bankruptcy Code in the continued operation of its business and the management of its property; (b) negotiate with creditors of the Debtor, prepare a plan of reorganization, and take the necessary legal steps to consummate a plan; (c) appear before the various taxing authorities to work out a plan to pay taxes owing in installments; (d) prepare on the Debtor's behalf necessary legal documents; (e) appear before this Court to protect the interests of the Debtor and its estate, and represent it in all matters pending before this Court; and (f) perform all other legal services for the Debtor that may be necessary herein. Joel Shafferman, Esq., an attorney at Shafferman & Feldman, 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: Joel M. Shafferman, Esq. Shafferman & Feldman LLP 137 Fifth Avenue, 9th Floor New York, NY 10010 Telephone: (212) 509-1802 Email: shaffermanjoel@gmail.com About 5902 Hudson Ave LLC 5902 Hudson Ave LLC is a single-asset real estate debtor under U.S. Bankruptcy Code. The Company lists a property at 5902 Hudson Avenue in West New York, New Jersey, as its principal asset. 5902 Hudson Ave LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-42224) on May 7, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. The Debtors are represented by Joel M. Shafferman, Esq., at Shafferman & Feldman LLP. 6 SUNSET LANE: Seeks to Hire O'Brien Realty as Realtor ------------------------------------------------------ 6 Sunset Lane, LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to retain O'Brien Realty to serve as its realtor. O'Brien Realty will provide these services: (a) list the property for sale; (b) arrange for the property to be shown; (c) assist in the presentation of contracts and negotiations regarding same; and (d) assist in the consummation of a sale approved by the Court. The firm will be paid at these compensation structure: -- 4% of the sales price of the real property, payable upon closing of title, without the need for further court order; -- If a second realtor is involved, the commission will be split 2% each; -- If Michael Roth of O'Brien Realty serves as both listing and selling realtor, a 3% commission applies -- A referral fee of 0.25% of the listing commission shall be paid to Cheryl Kovel of Coldwell Banker. O'Brien Realty is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Michael Roth, Realtor O'BRIEN REALTY 37 Beach Road Monmouth Beach, NJ, 07750 Telephone: (732) 229-3532 About 6 Sunset Lane LLC 6 Sunset Lane LLC is the fee simple owner of the real property located at 6 Sunset Lane, Monmouth Beach, NJ 07705, which is currently valued at $1.7 million. 6 Sunset Lane LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-11005) on Jan. 31, 2025. In its petition, the Debtor reports estimated total assets of $1,700,000 and estimated liabilities of $1,427,073. Judge Mark Edward Hall oversees the case. The Debtor is represented by Andrew J. Kelly, Esq. at THE KELLY FIRM, P.C. 729-731 MEEKER: Taps FIA Capital Partners as Restructuring Advisor ------------------------------------------------------------------ 729-731 Meeker Group LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ FIA Capital Partners LLC as restructuring advisor. The firm will provide David Goldwasser as chief restructuring officer and certain additional personnel to the Debtors. The CRO and additional personnel will render these services: (a) oversee the Debtors' operations; (b) manage cash flow and ensure the payment of operating expenses, property taxes, and insurance; (c) work with bankruptcy counsel to develop a plan of reorganization or liquidation, and discuss the plan with counsel, secured creditors, other creditors, and/or governmental authorities, including the Office of the U.S. Trustee ("OUST"). (d) develop and implement a strategy for the stabilizing or selling of the property; (e) conduct analyses of property performance, debt obligations, and restructuring alternatives; (f) perform due diligence on the Debtors; (g) assist in the preparing materials for the bankruptcy petition and schedules, review under the Bankruptcy Code and Guidelines for the Eastern District of New York, ensuring compliance with OUST requirements; (h) prepare and file monthly operating reports required under the Bankruptcy Code and Guidelines for the Eastern District of New York, ensuring compliance with OUST requirements; (i) attend court proceedings, the initial debtor interview, section 341(a) meetings, and additional meetings with creditors and stakeholders as required, and provide testimony as necessary; (j) act as liaison between the Debtors' management, their advisors, creditors, advisors, and the OUST. Provide regular updates to stakeholders and official committees, subject to reasonable confidentiality restrictions; (k) perform other services as requested by the Debtors or member(s) that are reasonably related to the above-described services and agreed to by the CRO; and (l) the services provided are solely for the Debtors and are not being rendered by FIA as an agent or fiduciary of the Debtors' members, creditors, or any other person or entity. The firm will be paid at these fees: (a) a non-refundable up-front fee of $25,000; and (b) fees will be billed at FIA's standard hourly rates as follows: David Goldwasser, CRO $750 CFO/CPA $450 Managing Director $400 Paralegal $280 In addition, the firm will seek reimbursement for expenses incurred. Mr. Goldwasser 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 Goldwasser FIA Capital Partners LLC 295 Front Street Brooklyn, NY 11201 About 729-731 Meeker Group 729-731 Meeker Group LLC is a Single Asset Real Estate debtor (as defined in 11 U.S.C. Section 101(51B)). 729-731 Meeker Group LLC and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 24-42846) on July 9, 2024. In the petition signed by Mitchell Steiman, vice president of restructuring, 729-731 Meeker Group disclosed between $1 million and $10 million in both assets and liabilities. The Honorable Bankruptcy Judge Jil Mazer-Marino handles the case. The Debtors tapped Joel M. Shafferman, Esq., at Shafferman & Feldman LLP as counsel and FIA Capital Partners LLC as restructuring advisor. 98TH TRUST: Seeks Chapter 11 Bankruptcy in New York --------------------------------------------------- On July 31, 2025, 98th Trust LLC filed Chapter 11 protection in 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 98th Trust LLC 98th Trust LLC is a real estate company that owns and operates a residential property located at 22-16 98th Street in Elmhurst, Queens. The Company generates revenue by leasing units at the property. 98th Trust LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-43694) on July 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Nancy Hershey Lord handles the case. The Debtor is represented by Lawrence Morrison, Esq. at MORRISON TENENBAUM PLLC. ALIERA COMPANIES: Court Narrows Claims in Moeller Adversary Case ---------------------------------------------------------------- Judge Thomas M. Horan of the United States Bankruptcy Court for the District of Delaware granted in part and denied in part Ron and Maria Moeller's motions for a declaration that they are free to pursue certain claims against Shelley Steele, Tim Moses, and Chase Moses (the "Individual Defendants") in federal district court in Montana in the bankruptcy cases of The Aliera Companies Inc. of Sharity Ministries, Inc. The Moellers filed a complaint against the Individual Defendants in the United States District Court for the District of Montana in March 2020, asserting causes of actions based on the allegedly fraudulent health care coverage the defendants provided to the Moellers. This complaint also named The Aliera Companies, Inc. and Trinity Healthshare, Inc. (the former name of Sharity) as defendants. The Moellers filed their Second Amended Complaint on July 8, 2021. The causes of action asserted in the Second Amended Complaint are: i. Breach of Contract; ii. Unfair Claims Settlement Practices; iii. Fraudulent Inducement; iv. Deceit; v. Constructive Fraud; vi. Negligent Misrepresentation; vii. Common Law Bad Faith; viii. Negligence ix. Negligence Per Se; x. Breach of Fiduciary Duty; xi. Consumer Protection Act; xii. Joint Tortious Enterprise; xiii. Malice; xiv. Promissory Estoppel; xv. Equitable Estoppel; and xvi. Alter Ego. The Moellers are creditors in the Sharity bankruptcy case, which was filed in July 2021, after the Moellers filed the Second Amended Complaint. This Court entered an order on Dec. 2, 2021, confirming Sharity's Plan of Liquidation. The Moellers also are creditors in the Aliera bankruptcy case, which was filed in December of 2021. This Court entered an order on Aug. 17, 2023, confirming Aliera's Plan. On July 7, 2023, about a month before confirmation of Aliera's Plan, the Official Committee of Unsecured Creditors in the Aliera case and Neil Luria in his capacity as the liquidating trustee in the Sharity case filed an adversary proceeding against the Individual Defendants, among other defendants not party to the Second Amended Complaint. The Adversary Proceeding's complaint asserted the following ten counts against the defendants: i. Breach of Duty of Care; ii. Breach of Duty of Loyalty; iii. Aiding and Abetting Breach of Fiduciary Duty; iv. Civil Conspiracy; v. Voidable Transfers and Obligations – Constructive Fraud; vi. Voidable Transfers and Obligations – Actual Fraud; vii. Voidable Transfers and Obligations as to Present or Future Creditors; viii. Recovery of Transfers; ix. Preservation of Avoided Transfers; and x. Disallowance of Claims. The parties in the Adversary Proceeding entered into a Settlement Agreement in December of 2023 in which the Individual Defendants here agreed to pay a total of $7.4 million to Aliera LT, LLC, the liquidating trustee in Aliera, in exchange for a release of those claims in the Adversary Proceeding's complaint and any other claims held by the Liquidating Trustee. Each of the Sharity and Aliera Plans contains a provision that enjoins creditors from pursuing causes of action that belong to the estate after the Plan takes effect. Because of the Plans, the Debtors have been dismissed from the Moellers' suit in Montana. After the entry of the orders confirming the Plans, the Individual Defendants moved the court in the Montana case to dismiss the Moellers' claims against them for lack of jurisdiction, contending that those claims belonged to the Aliera and Sharity bankruptcy estates and thus, under the Plans' injunctions, were exclusively the Liquidating Trustee's to pursue. The Montana Court requested additional briefing from the Moellers and the Individual Defendants addressing the effect of the Sharity and Aliera bankruptcy cases on the Moellers' ability to prosecute their claims against the Individual Defendants. On Aug. 24, 2024, United States Magistrate Judge Kathleen L. DeSoto issued her Findings and Recommendation, recommending that further proceedings be stayed until this Court can determine whether the Moellers' claims against the Individual Defendants were enjoined under the Plans and confirmation orders in the Sharity and Aliera bankruptcy cases. Motion The issue before the Court is whether the Moellers' claims against the Individual Defendants are enjoined by the Plan Injunctions. This question ultimately boils down to whether the claims against the Individual Defendants are: 1) property of the estates and thus exclusively the Aliera and Sharity to pursue; or 2) not property of the estates and thus open for pursuit by the Moellers. The Moellers ask the Court to find that the 16 claims against the Individual Defendants in the Montana complaint are not property of the Sharity and Aliera bankruptcy estates and thus the Moellers may pursue those claims without violating the injunctions set forth in the Aliera and Sharity Plans of Liquidation. In arguing the claims are available to pursue, the Moellers contend that each of their 16 claims is particular to them because the injuries they suffered were specific to them. Conversely, the Individual Defendants contend that they did not act independently from the Debtors and that the injuries the Moellers suffered are similar to the injuries of other similarly situated creditors, meaning that the resulting claims are general and thus part of the estates. According to the Court, the primary problem with the Second Amended Complaint is that its allegations are against both the Individual Defendants and the Debtors, and the allegations sometimes are unclear as to whether they are based on the independent tortious conduct of the Individual Defendants or based on their actions as the Debtors' alter ego. To comply with the injunctive language in the Plans, the Moellers cannot pursue claims that belong to the Debtors' estates. Despite the ambiguity of the Second Amended Complaint, this Court has been able to determine that Counts I, XII, and XIII are not enjoined, and the Moellers may pursue them. However, they cannot pursue Count II because it is not assertable against the Individual Defendants and Count XVI because it is an alter ego claim that belongs to the estates. The Second Amended Complaint, however, lacks the specificity and clarity adequate for this Court to discern whether Counts III, IV, V, VI, VII, VII, IX, X, XI, XIV, and XV (the "Remaining Claims") are or are not enjoined. The question of what to do with the Remaining Claims must nonetheless be answered. The Court resolves the ambiguity of the Remaining Claims by finding the Plan Injunction cannot be said to exclude the Remaining Claims as they are currently pled. Therefore, as pled, the Remaining Claims cannot proceed. A copy of the Court's Opinion and Order is available at http://urlcurt.com/u?l=ZnNd1G About Aliera Cos. Inc. Aliera Cos. Inc. is focused on providing a full spectrum of revolutionary options and services to a multitude of industries that fit every need and budget. The company provides services to support its subsidiaries, which focus on the unique aspects of the health care industry. Plaintiffs in a case -- docketed as Hanna Albina and Austin Willard, individually and on behalf of others similarly situated, Plaintiffs, v. The Aliera Companies, Inc., Trinity Healthshare, Inc. and Oneshare Health, LLC Unity Healthshare, LLC, Case No. 20-CV-00496, (E.D. Ky., Dec. 11, 2020) -- filed an involuntary petition under Chapter 11 of the Bankruptcy Code against Aliera (Bankr. D. Del. Case No. 21-11548) on Dec. 5, 2021. Joseph H. Huston, Jr., Esq., of Stevens & Lee, P.C., is the petitioners and plaintiffs' counsel. On Dec. 21, 2021, Aliera filed a voluntary Chapter 11 petition (Bankr. N.D. Ga. Case No. 21-59493), disclosing assets of $1 million to $10 million and liabilities of $500 million to $1 billion. Advevo LLC and three other Aliera affiliates -- Ensurian Agency LLC, Tactic Edge Solutions LLC and USA Benefits & Administrators LLC -- also filed voluntary Chapter 11 petitions on Dec. 21, 2021. On Jan. 25, 2022, the petitioning creditors obtained an order granting their motion to transfer the voluntary Chapter 11 cases to the Delaware Bankruptcy Court, which has been overseeing the liquidation of Aliera's affiliated corporation, Trinity Healthshare, Inc., now known as Sharity Ministries, Inc. On Feb. 16, 2022, Judge John T. Dorsey of the Delaware Bankruptcy Court ordered the consolidation of Aliera's voluntary Chapter 11 proceeding with the involuntary case filed by the petitioning creditors (with Case No. 21-11548 being the surviving case number) and terminated the company's voluntary proceeding. Meanwhile, Judge Dorsey ordered the joint administration of the involuntary proceeding and the four other voluntary cases filed by the Aliera affiliates, with Case No. 21-11548 as the lead bankruptcy case. The Debtors tapped J. Robert Williamson, Esq., at Scroggins & Williamson, P.C. and Monzack Mersky and Browder, PA as bankruptcy counsels; SeatonHill Partners, LP as financial advisor; and Katie Goodman, managing member of GGG Partners, LLC, as chief liquidation officer. Epiq Corporate Restructuring, LLC is the claims and noticing agent and administrative advisor. The U.S. Trustee for Region 3 appointed an official committee of unsecured creditors on Feb. 21, 2022. The committee is represented by Greenberg Traurig, LLP. ALTAR PDX: Gets Final OK to Use $50K in Cash Collateral ------------------------------------------------------- The U.S. Bankruptcy Court for the District of Oregon issued a final order authorizing ALTAR PDX, LLC to use $50,150.72 in cash collateral through September 28. The Debtor needs access to cash collateral to pay its expenses in order to continue its operations. The Debtor's authority to use cash collateral is limited to the uses set forth in the budget, together with a 10% aggregate variance. The 13-week budget projects total operational expenses of $48,240.72. The U.S. Small Business Administration is the only known secured creditor, with a $266,102 claim secured by all personal property of the Debtor. As adequate protection for the Debtor's use of its cash collateral, SBA will be granted replacement liens on assets acquired by the Debtor after its Chapter 11 filing that are similar to its pre-bankruptcy collateral. The replacement liens will have the same priority as SBA's pre-bankruptcy liens. In addition, SBA will receive payments in accordance with its budget as further adequate protection. About Altar PDX LLC Altar PDX, LLC manufactures and sells clothing online. Altar PDX sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ore. Case No. 25-32203) on June 27, 2025, listing up to $50,000 in assets and up to $500,000 in liabilities. Cassandra Ridgway, owner and member of Altar PDX, signed the petition. Judge Peter C. McKittrick oversees the case. Nicholas J. Henderson, Esq., at Elevate Law Group, represents the Debtor as bankruptcy counsel. AMICI MONROE: Employs Keck Legal as Legal Counsel ------------------------------------------------- Amici Monroe, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to hire Keck Legal LLC to serve as legal counsel. Keck Legal will provide these services: (a) give the Debtor and Debtor-in-Possession legal advice with respect to its powers and duties in these proceedings; (b) prepare on behalf of the Debtor and Debtor-in-Possession the necessary schedules, applications, motions, answers, orders, reports, and other legal documents; (c) assist in the examination of the claims of creditors; (d) assist with the formulation and preparation of the disclosure statement and plan of reorganization and the confirmation and consummation thereof; and (e) perform all other legal services for the Debtor and Debtor-in-Possession. Keck Legal's hourly billing rates are: Benjamin R. Keck: $465 Jonathan Clements: $350 Omar Esquivel: $195 Katie Meadows and Jackson Grabill: $150 Selah Owusu: $125 Miguel Quinonez: $105 Silvia Laguado: $95 The firm received a pre-petition retainer of $26,738, of which $7,771 was applied to pre-petition services, leaving a balance of $18,967 as of the petition date. According to court filings, Keck Legal is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. The firm can be reached at: Benjamin R. Keck, Esq. KECK LEGAL, LLC 2801 Buford Highway NE, Suite 115 Atlanta, GA 30329 Telephone: (470) 826-6020 E-mail: bkeck@kecklegal.com About Amici Monroe LLC Amici Monroe LLC, operating as Amici Cafe in Georgia, operates a casual dining restaurant serving Italian-American cuisine, including pizza, pasta, sandwiches, and wings, as part of the regional Amici restaurant chain. Amici Monroe sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-20945) on July 3, 2025. In its petition, the Debtor reported estimated assets up to $50,000 and estimated liabilities between $500,000 and $1 million. The Debtor is represented by Benjamin R. Keck, Esq., at Keck Legal, LLC. ANCHOR CONSTRUCTION: Hires Brooks Harrison & Cayer as Accountant ---------------------------------------------------------------- Anchor Construction Group, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Florida to employ Brooks, Harrison, & Cayer, LLC as accountant. The firm will provide tax advice and accounting/bookkeeping services to the Debtor. It may also assist in the preparation of monthly operating reports. The firm's bookkeeping services are billed at $75 per hour. Tax return preparation is at a flat fee of $1,350. The accountant's hourly rate outside of the scope of these items is $200 per hour. Christopher Cayer, CPA, an accountant at Brooks, Harrison, & Cayer, 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: Christopher Cayer, CPA Brooks, Harrison, & Cayer, LLC 1815 Miccosukee Common Dr., Ste. 102 Tallahassee, FL 32308 Telephone: (850) 877-1040 About Anchor Construction Group Anchor Construction Group, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-40273) on June 12, 2025, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. The Debtor tapped Byron Wright, III, Esq., at Bruner Wright, P.A. as counsel and Christopher Cayer, CPA, at Brooks, Harrison, & Cayer, LLC as accountant. AUTO HOUSE: Seeks to Tap Swindoll Janzen Hawk & Loyd as Accountant ------------------------------------------------------------------ Auto House, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Kansas to employ Swindoll, Janzen, Hawk & Loyd LLC as accountant. The firm will prepare the Debtor's federal and state corporate income tax returns, assist in the filing of its monthly operating report, and provide accounting, bookkeeping, payroll and consulting services as requested. The firm will be paid at these fees: Partner Fees $375 Manager Fees $250 Professional Staff Fees $225 Administrative Fees $125 Justin Kaufman, a certified public accountant at Swindoll, Janzen, Hawk & Loyd, 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: Justin Kaufman, CPA Swindoll, Janzen, Hawk & Loyd LLC 220 W Douglas Ave Ste 300 Wichita, KS 67202 About Auto House Inc. Auto House, Inc. offers 24/7 towing and roadside assistance for all vehicle types across Central Kansas. It also provides heavy truck and off-road recovery, including semi-truck recovery and load management. Through its affiliate Kansas Environmental Cleanup, the company delivers certified HAZMAT cleanup and site remediation services throughout the state. Auto House sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Kan. Case No. 25-20726) on May 31, 2025. In its petition, the Debtor reported total assets of $1,825,013 and total liabilities of $4,479,222. Judge Robert D. Berger handles the case. The Debtor tapped Colin N. Gotham, Esq., at Evans & Mullinix, P.A. as counsel and Justin Kaufman, CPA, at Swindoll, Janzen, Hawk & Loyd LLC as accountant. AVALON GLOBOCARE: Issues $300K of Series C Preferred Shares to MHF ------------------------------------------------------------------ Avalon GloboCare Corp. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that it entered into entered into that certain Securities Purchase Agreement, with an accredited investor, Mast Hill Fund, L.P., pursuant to which the Company agreed to issue and sell to the Investor, upon the terms and conditions set forth in the Securities Purchase Agreement, 300 shares of Series C Convertible Preferred Stock for up to an aggregate of $300,000, which is equal to $1,000 per share. The Company will receive net proceeds of $290,000 at the closing after deducting offering expenses. The Company shall not be required to issue any of the Company's common stock upon conversion of the Series C Convertible Preferred Stock until the shareholder approval for such issuance is obtained by the Company. The foregoing description of the terms of the Securities Purchase Agreement, and the transactions contemplated thereby, does not purport to be complete and is qualified in its entirety by reference to the copy of the Securities Purchase Agreement available at https://tinyurl.com/4u5zn96t About Avalon Globocare Avalon Globocare Corp., based in Freehold, New Jersey, develops and markets precision diagnostic consumer products and cellular therapy intellectual property. The Company currently sells the KetoAir breathalyzer, a U.S. FDA-registered Class I medical device, and plans to expand its diagnostic applications. It also owns and manages commercial real estate at its headquarters. In an audit report dated March 31, 2025, M&K CPAS, PLLC issued a "going concern" qualification citing that the Company has yet to achieve profitable operations, has negative cash flows from operating activities, and is dependent upon future issuances of equity or other financings to fund ongoing operations, all of which raises substantial doubt about its ability to continue as a going concern. Avalon Globocare incurred net losses amounting to approximately $7.9 million and $16.7 million for the years ended Dec. 31, 2024 and 2023, respectively. As of Dec. 31, 2024, the Company had an accumulated deficit of approximately $87.7 million. BEDMAR LLC: Taps Wilson Sonsini as Special Conflicts Counsel ------------------------------------------------------------ Bedmar, LLC seeks approval from the U.S. Bankruptcy Court for the District of Delaware to hire Wilson Sonsini Goodrich & Rosati, P.C. to serve as special conflicts counsel in its Chapter 11 case. WSGR will provide these services: (a) provide advice to the Debtor on matters where conflicts may exist between the Debtor and Alachua Government Services, Inc.; (b) prosecute requests for relief and defend motions concerning such matters, and object to related claims; (c) prepare necessary pleadings and other filings on Conflict Matters; and (d) undertake any additional legal services involving a potential adversity between the Debtor and Alachua as assigned by general counsel or the Independent Manager. WSGR professionals will be compensated at these hourly rates: $1,470 to $3,025 for partners; $1,230 to $2,230 for counsel; $695 to $1,470 for associates, and $305 to $1,405 for legal staff, with a 10% discount applied per the engagement agreement. According to court filings, Wilson Sonsini Goodrich & Rosati, P.C. is a "disinterested person" as defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Erin R. Fay, Esq. WILSON SONSINI GOODRICH & ROSATI, P.C. 650 Page Mill Road Palo Alto, CA 94304-1050 About Bedmar, LLC Bedmar LLC is a real estate company based in San Diego, California, that owns and manages manufacturing, laboratory, and office properties across several U.S. locations, including Massachusetts, California, and Florida. Its portfolio includes multiple sites in Bedford, Allston, Marlborough, San Diego, Fremont, and Alachua. The Company's current operations are primarily focused on managing and winding down these sites. Bedmar LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Del. Case No. 25-11027) on June 9, 2025. In its petition, the Debtor reported estimated assets and liabilities of $50 million to $100 million. The petition was signed by Christopher S. Sontchi as independent manager. The Honorable J Kate Stickles handles the case. Richards Layton & Finger, P.A. is the Debtors' counsel. The Debtor's financial and restructuring advisor is Douglas Wilson Companies. The Debtor's claims and noticing agent is Epiq Corporate Restructuring LLC. BERRY CORP: S&P Affirms 'CCC+' ICR Then Withdraws Rating -------------------------------------------------------- S&P Global Ratings affirmed all ratings, including its 'CCC+' issuer credit rating and 'B' issue-level rating on its term loan on Dallas-based oil and gas exploration and production (E&P) company Berry Corp. Subsequently, S&P withdrew all ratings on Berry at the issuer's request. The outlook was stable. S&P said, "Despite our recent price deck revision, we expect Dallas-based oil and gas exploration and production (E&P) company Berry Corp. to maintain stable credit metrics and disciplined spending in 2025, due in part to its strong hedging position. "In June, we revised our price deck to $60 Brent (from $65/bbl) for the rest of 2025 and to $65/bbl (from $70) in 2026. However, Berry's strong hedge position muted the negative impact on cash flows. We estimate about 75% of total production is hedged in 2025 and about 60% in 2026. " the ongoing pause on new well drilling in Kern County, Calif. related to the temporary suspension of the Kern County Environmental Impact Review (EIR), we expect the company will maintain stable production levels via in-basin sidetracks/workover activity and increase capital spending on its Uinta acreage in Utah. We estimate there could be a resolution of the EIR case in the next six to 12 months given the Kern County Board of Supervisors formal adoption of a revised ordinance and EIR (pending court review and approval) which could open up in-basin new well drilling, but this is not part of our base case. As a result, we expect steady credit metrics of about 30% FFO/debt through 2026. "While we still view liquidity as less than adequate, we anticipate the company will be able to mostly address its $45mm annual amortization and $9 million annual dividend payment through free cash flow. We forecast a cash burn of about $20 million in 2025 and 2026 but expect the company has enough liquidity to meet the shortfall. As of March 2025, the company had $49 million availability on its undrawn $63 million RBL (no restrictions on current dividend amount) and a $32 million delayed draw feature on the term loan. Berry remains subject to a $25 million minimum liquidity covenant. "We withdrew all ratings on Berry Corp., including our 'CCC+' issuer credit rating and issue-level rating, at the issuer's request." BISHOP OF FRESNO: Hires GlassRatner Advisory as Financial Advisor ----------------------------------------------------------------- The Roman Catholic Bishop of Fresno seeks approval from the U.S. Bankruptcy Court for the Eastern District of California to employ GlassRatner Advisory & Capital Group LLC as financial advisor. The firm will provide these services: (a) assist the Debtor in a review of its strategic options; (b) assist the Debtor in developing financial projections and liquidity projestions; (c) assist the Debtor with negotiations with various stakeholders; (d) assist the Debtor in implementing potential operational and/or strategic enhacements; (e) assist the Debtor in preparation of the statutory reporting requirements during this bankruptcy case; (f) assist with the preparation of reports for, and communications with, the bankruptcy court, creditors, and any other constituents; (g) review, evaluate, and analyze the financial ramifications of proposed transactions for which the Debtor may seek bankruptcy court approval; (h) provide appraisal and valuation services; (i) provide financial advice and assistance to the Debtor in connection with asset sale transactions; (j) assist the Debtor in developing and supporting a proposed plan of reorganization; (k) render bankruptcy court testimony in connection with the foregoing, as required, on behalf of the Debtor; and (l) perform any other duty or task which falls within the normal responsibilities of a financial advisor at the direction of management and/or board. Th firm will be paid at these hourly rates: Sr. Managing Director $525 - $895 Directors, Managing Director $450 - $650 Associates, Other Professionals $225 - $495 In addition, the firm will seek reimbursement for expenses incurred. 90 days prior to the petition date, the firm received payments and advances in the aggregate amount of $135,409 from the Debtor. Wayne Weitz, a senior managing director at GlassRatner Advisory & Capital Group, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Wayne Weitz GlassRatner Advisory & Capital Group LLC 3445 Peachtree Rd. NE, Ste. 1225 Atlanta, GA 30326 About The Roman Catholic Bishop of Fresno The Roman Catholic Bishop of Fresno, a corporation sole, is a California nonprofit religious organization that administers the temporal affairs of the Roman Catholic Diocese of Fresno. It provides leadership, support services, and resources to 87 parishes, diocesan schools, cemeteries, and Catholic-based social and community service organizations across the diocese. Its operations are primarily funded through parish and school assessments, donations, grants, service fees, cemetery pre-need sales, and investment income. The Roman Catholic Bishop of Fresno sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Cal. Case No. 25-12231) on July 1, 2025. In its petition, the Debtor reported between $50 million and $100 million in assets and liabilities. Judge Rene Lastreto II handles the case. The Debtor tapped Hagop T. Bedoyan, Esq., at McCormick, Barstow, Sheppard, Wayte & Carruth, LLP as counsel and GlassRatner Advisory & Capital Group LLC as financial advisor. Donlin, Recano & Company, Inc. is the Debtor's claims and noticing agent. BISHOP OF FRESNO: Taps McCormick Barstow Sheppard Wayte as Counsel ------------------------------------------------------------------ The Roman Catholic Bishop of Fresno seeks approval from the U.S. Bankruptcy Court for the Eastern District of California to employ McCormick Barstow Sheppard Wayte & Carruth LLP as counsel. The firm's services include: (a) consult with the Debtor concerning its present financial situation, realistic achievable goals, and the efficacy of various forms of bankruptcy as a means to achieve its goals; (b) prepare the documents necessary to commence this Bankruptcy Case; (c) advise the Debtor concerning its duties in this Bankruptcy Case; (d) assist the Debtor with the formulation of the Chapter 11 plan, draft the plan and disclosure statement, and prosecute legal proceedings to seek confirmation of the plan, and defend the Debtor if there are objections to confirmation of the plan; (e) if necessary, prepare and prosecute such pleadings as complaints to avoid preferential transfers or transfers deemed fraudulent as to creditors, motions for authority to borrow money, sell property, or compromise claims, objections to claims, interim and final fee applications and employment applications, as well as assist the Debtor in defending against motions for relief from the automatic stay, dismissal or conversion of the case, and the appointment of a trustee or examiner; and (f) represent the Debtor in legal matters. The hourly rates of the firm's counsel and staff are as follows: Hagop T. Bedoyan, Partner Mart B. Oller, IV, Partner Melissa K. Cerro, Partner Craig A. Houghton, Partner Ben Nicholson, Partner Todd A. Wynkoop, Partner Jason O. Howard, Partner Shane G. Smith, Partner Christopher S. Hall, Partner Christina Y. Cusimano, Partner Harleen K. Wahid-Dail, Partner Garrett R. Leatham, Associate Garrett J. Wade, Associate April A. Almanza, Paraprofessional Johanna Lockey, Paraprofessional In addition, the firm will seek reimbursement for expenses incurred. As of the petition date, the firm holds a retainer of $372,650.85. Hagop Bedoyan, Esq., attorney at McCormick Barstow Sheppard Wayte & Carruth, 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: Hagop T. Bedoyan, Esq. McCormick Barstow Sheppard Wayte & Carruth LLP 7647 North Fresno Street Fresno, CA 93720 Telephone: (559) 433-1300 Facsimile: (559) 433-2300 Email: hagop.bedoyan@mccormickbarstow.com About The Roman Catholic Bishop of Fresno The Roman Catholic Bishop of Fresno, a corporation sole, is a California nonprofit religious organization that administers the temporal affairs of the Roman Catholic Diocese of Fresno. It provides leadership, support services, and resources to 87 parishes, diocesan schools, cemeteries, and Catholic-based social and community service organizations across the diocese. Its operations are primarily funded through parish and school assessments, donations, grants, service fees, cemetery pre-need sales, and investment income. The Roman Catholic Bishop of Fresno sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Cal. Case No. 25-12231) on July 1, 2025. In its petition, the Debtor reported between $50 million and $100 million in assets and liabilities. Judge Rene Lastreto II handles the case. The Debtor tapped Hagop T. Bedoyan, Esq., at McCormick, Barstow, Sheppard, Wayte & Carruth, LLP as counsel and GlassRatner Advisory & Capital Group LLC as financial advisor. Donlin, Recano & Company, Inc. is the Debtor's claims and noticing agent. CALIFORNIA CASUALTY: A.M. Best Affirms B(Fair) FS Rating -------------------------------------------------------- AM Best has revised the outlooks to stable from negative for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term ICRs of "bb+" (Fair) of The California Casualty Indemnity Exchange (San Mateo, CA) and its wholly owned subsidiaries: California Casualty General Insurance Company of Oregon (Portland, OR), California Casualty & Fire Insurance Company (San Mateo, CA) and California Casualty Insurance Company (Portland, OR). All of these companies comprise the California Casualty Group (California Casualty). The outlook of the FSR is stable. The Credit Ratings (ratings) reflect California Casualty's balance sheet strength, which AM Best assesses as adequate, as well as its marginal operating performance, limited business profile and marginal enterprise risk management (ERM). The revision of the Long-Term ICRs outlooks to stable from negative and the affirmation of the ratings reflects the group's improved operating performance, which has exceeded management's expectations. AM Best expects California Casualty to maintain adequate balance sheet strength, supported by a very strong level of risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR). The improvement in BCAR reflects a strengthened surplus position, reduced catastrophe exposure and improved underwriting margins. The improvement in California Casualty's surplus was driven by better rate adequacy, expense reduction initiatives and improved loss experience. The strategic business initiatives of California Casualty, including realignment of its business mix toward stronger-performing affinity groups and exit from underperforming regions, have contributed to the organization's improved earnings stability and a more sustainable loss ratio. While these actions and enhancements to the ERM are expected to support operating performance and organic surplus growth, California Casualty remains exposed to elevated execution risk. Positive rating actions could occur if the transformation of the group's ERM practices lead to sustained improvements in overall balance sheet strength and profitability. CENTER FOR SPECIAL: Trustee Taps Underwood Murray as Legal Counsel ------------------------------------------------------------------ Michael GoldbergThe Center, Chapter 11 Trustee for Special Needs Trust Administration, Inc., seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to expand the scope of employment for Underwood Murray, P.A. as special conflicts counsel. Underwood Murray will provide these services: (a) assist the Trustee in evaluation and prosecution of claims against third parties on behalf of the bankruptcy estate; (b) bring claims in coordination with lead class counsel Kozyak Tropin & Throckmorton LLP against common targets; (c) collaborate with KTT and the Trustee to allocate value and services in the event of a settlement or recovery; and (d) represent the Trustee in estate recovery efforts connected to beneficiaries who did not opt out during the Wind Down process. Underwood Murray shall be entitled to a contingency fee of no greater than 33%, a lodestar with multiplier, or an attorneys' fee award, subject to court approval or applicable law. Underwood Murray, P.A. can be contacted at: Megan W. Murray, Esq. Underwood Murray, P.A. 100 N. Tampa Street, Suite 2325 Tampa, FL 33602 Telephone: (813) 540-8401 Email: mmurray@underwoodmurray.com About The Center for Special Needs Trust Administration, Inc. The Center for Special Needs Trust Administration, Inc. filed Chapter 11 petition (Bankr. M.D. Fla. Case No. 24-00676) on Feb. 9, 2024, with $100 million to $500 million in both assets and liabilities. Judge Roberta A. Colton oversees the case. Scott A. Stichter, Esq., at Stichter, Riedel, Blain & Postler, PA is the Debtor's legal counsel. On March 4, 2024, the U.S. Trustee appointed an official committee of unsecured creditors in this Chapter 11 case. The committee tapped Underwood Murray, PA as bankruptcy counsel and Gilbert Garcia Group, PA as special counsel. CENTRAL HOUSEWARES: Updates Restructuring Plan Disclosures ---------------------------------------------------------- Central Housewares, Inc., d/b/a The Pool People, submitted a Second Amended Plan of Reorganization dated July 28, 2025. This Plan proposes to pay creditors with operating income from the business. Administrative expenses allowed under § 503 of the Code will be paid in full on the Effective Date of this Plan. The following are included as administrative expenses: * Swanson Sweet LLP: Fees and cost reimbursements of the Debtor's general bankruptcy counsel, estimated to be approximately $68,000 subject to approval by the Court. Swanson Sweet LLP continues to hold a security retainer of $44,685.00 in its trust account for post-petition legal services and costs. The Debtor and Swanson Sweet LLP have agreed that any amount of court-approved compensation for post-petition legal services and costs in excess of the security retainer shall be paid over time as the Debtor's cash flow allows. * Subchapter V Trustee: Fees and cost reimbursements of the subchapter V trustee, estimated to be approximately $5,555.29 subject to approval by the Court. On March 5, 2025, the Court ordered the Debtor to remit a $3,500 post-petition security deposit to the subchapter V trustee via monthly installments of $500.00 starting March 19, 2025 and continuing on the same day of the month until confirmation. The Debtor has paid $3,500 to the subchapter V trustee in accordance with the order. On or before the later of (1) the Effective Date or (2) seven days after the Court's approval of the subchapter V trustee's application for compensation, (a) the Debtor will pay the balance of court approved compensation due the subchapter V trustee after application of the post-petition security deposit, or (b) the subchapter V trustee will remit the balance of the post-petition security deposit, after application of the post-petition security deposit to its court-approved compensation, to the Debtor. Like in the prior iteration of the Plan, the Debtor will make a pro rata distribution at least annually to each non priority unsecured creditor holding an allowed claim on or before September 15th of 2026, 2027, and 2028, of its projected disposable income. Based upon the debtor's calculation, as set forth in the projections attached hereto, the total 36 month projected disposable income will be $135,000 over the applicable period. This amount exceeds the amount available to the unsecured creditors under the debtor's liquidation test ($87,850). It is incumbent upon each Class 5 claimant to verify the amount of its claim as stated in the debtor's schedules, or to file a claim on the docket setting forth the claim amount and the calculations it is based on. In the event any payment made to any of the Class 5 claimants is returned for any reason, or left uncashed after 90 days, those funds shall be re disbursed pro-rata to the other claimants in the case in order of priority. This Class is impaired. The Debtor will continue to operate its business and generate income from ongoing sales of its inventory, under the control of existing ownership and management. Income derived from operations will fund the ongoing expenses of operating the business and paying employees as well as funding payments to creditors. A full-text copy of the Second Amended Plan dated July 28, 2025 is available at https://urlcurt.com/u?l=SntJCZ from PacerMonitor.com at no charge. Counsel to the Debtor: Paul Swanson, Esq. Michael C. Jurkash, Esq. Swanson Sweet LLP 107 Church Ave. Oshkosh, WI 54901 Telephone: (920) 633-3397 Email: pswanson@swansonsweet.com About Central Housewares Central Housewares, Inc., is a retailer of pools, spas, outdoor living equipment, as well as billiards and other table games. Central Housewares sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Wisc. Case No. 25-20408) on Jan. 27, 2025, listing up to $1 million in assets and up to $10 million in liabilities. Jeffrey Desing, president of Central Housewares, signed the petition. Judge Katherine M. Perhach oversees the case. Paul G. Swanson, Esq., at Swanson Sweet, LLP, is the Debtor's legal counsel. CENTRAL RENT-ALL: Case Summary & 16 Unsecured Creditors ------------------------------------------------------- Debtor: Central Rent-All & Outdoor Power Equipment Sales, Inc. d/b/a Central Outdoor Power Sales 9156 Joor Road Baton Rouge, LA 70818 Business Description: Central Rent-All & Outdoor Power Equipment Sales sells, rents, and services lawn and garden equipment in Baton Rouge, Louisiana. The Company offers new and used products, parts, and repair services for brands such as STIHL, Husqvarna, Gravely, and Snapper. It also provides equipment delivery, pickup, and blade sharpening. Chapter 11 Petition Date: August 1, 2025 Court: United States Bankruptcy Court Middle District of Louisiana Case No.: 25-10668 Judge: Hon. Michael A Crawford Debtor's Counsel: Ryan J. Richmond, Esq. STERNBERG, NACCARI & WHITE, LLC 450 Laurel Street, Suite 1450 Baton Rouge, LA 70801 Tel: (225) 412-3667 Fax: (225) 286-3046 E-mail: ryan@snw.law Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Jason Howell as president. A copy of the Debtor's list of 16 unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/6ZSRMYA/Central_Rent-All__Outdoor_Power__lambke-25-10668__0002.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/64LZRBQ/Central_Rent-All__Outdoor_Power__lambke-25-10668__0001.0.pdf?mcid=tGE4TAMA CHAMPIONS ONCOLOGY: Reports $4.7 Million Net Income in FY25 ----------------------------------------------------------- Champions Oncology, Inc. filed with the U.S. Securities and Exchange Commission its Annual Report on Form 10-K for the fiscal year ended April 30, 2025 According to the Company, liquidity needs have typically arisen from the funding of its research and development programs and the launch of new products, working capital requirements, and other strategic initiatives. In the past, the Company has met these cash requirements through its cash on hand, working capital management, proceeds from certain private placements and public offerings of its securities and sales of products and services. For the years ended April 30, 2025 and 2024, the Company had net income of approximately $4.7 million and a net loss of approximately $7.3 million, respectively. As of April 30, 2025, the Company had an accumulated deficit of approximately $79.9 million, negative working capital of $1.5 million and cash of $9.8 million. For the 12 months ended April 30, 2025, the Company realized cash flow from operations of approximately $7.4 million. As of April 30, 2025, the Company had $32.3 million in total assets, $28.6 million in total liabilities, and total stockholders' equity of $3.8 million. Despite the negative working capital at this date, the Company believes that its cash on hand, together with expected cash flows from operations, are adequate to fund operations through at least August 2026. Should the Company be required to raise additional capital, there can be no assurance that management would be successful in raising such capital on terms acceptable to the Company, if at all. In a press release, Ronnie Morris, CEO of Champions, commented, "This past year was pivotal for the Company, as we returned to growth and profitability, launched a high-margin data business and laid the foundation for long-term value creation". Added Morris, "With a strong pipeline heading into fiscal 2026, we're confident in our ability to drive continued revenue growth and further accelerate the monetization of our data offering." David Miller, CFO of Champions added, "Our financial turnaround in fiscal 2025 was driven by disciplined execution and operational efficiency. We delivered record adjusted EBITDA, and strengthened our balance sheet, all while investing in scalable growth. We believe we're well positioned to build on this momentum in fiscal 2026." A full-text copy of the Company's Form 10-K is available at: https://tinyurl.com/4aprujx7 About Champions Oncology Hackensack, N.J.-based Champions Oncology, Inc. is a technology-enabled research organization engaged in creating technology solutions to be utilized in drug discovery and development. Its research center operates in both regulatory and non-regulatory environments and consists of a comprehensive set of computational and experimental research platforms. Its pharmacology, biomarker, and data platforms are designed to facilitate drug discovery and development at lower costs and increased speeds. * * * This concludes the Troubled Company Reporter's coverage of Champions Oncology, Inc. until facts and circumstances, if any, emerge that demonstrate financial or operational strain or difficulty at a level sufficient to warrant renewed coverage. CIBUS INC: Cuts 34 Jobs to Focus on Commercial Opportunities ------------------------------------------------------------ Cibus, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Board of Directors approved a reduction in workforce of approximately 34 full-time employees as a pivotal step in implementing the Company's previously announced streamlined business focus, prioritizing its nearest-term and currently funded commercial opportunities. The Company expects that the reduction in workforce will be completed by December 31, 2025, and estimates that it will incur approximately $0.5 million of one-time charges for accrued vacation and severance payments in the third quarter of 2025 in connection with this reduction in workforce. The Company communicated the workforce reduction to affected employees on July 23, 2025. About Cibus Cibus Inc. is an agricultural biotechnology company based in San Diego, California. It develops genetic traits for major food crops using its proprietary gene-editing platform, the Rapid Trait Development System. The Company's technology aims to improve crop productivity and resilience by addressing challenges such as pests, diseases, and environmental stressors. San Diego, Calif.-based BDO USA, P.C., the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 20, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31,2024. The report highlights that the Company has suffered recurring losses from operations and negative cash flows from operations that raise substantial doubt about its ability to continue as a going concern. The Company has incurred net losses since its inception. As of Dec. 31, 2024, the Company had an accumulated deficit of $731.2 million. The Company's net loss was $282.7 million for the year ended Dec. 31, 2024. Cibus anticipates continuing to incur substantial expenses and operating losses over the next several years, as it advances the development of its productivity trait pipeline and maintains limited commercial operations. Those expenses and losses may fluctuate significantly from quarter-to-quarter and year-to-year. CLEAN ENERGY: Sells Note, Shares for $175K in Deal With Firstfire ----------------------------------------------------------------- Clean Energy Technologies, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that it entered into a securities purchase agreement with Firstfire Global Opportunities Fund, LLC, a Delaware limited liability company, pursuant to which the Company sold, and FirstFire purchased: (i) a convertible promissory note in the principal amount of $201,250, and (ii) 125,000 shares of Company common stock, for an aggregate purchase price of $175,000. The Transaction closed on July 21, 2025, and on such date pursuant to the SPA, FirstFire's legal expenses of $5,500 were paid from the gross purchase price, the Company received net funding of $169,500, and the Note and Shares were issued to FirstFire. 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 business development and working capital, but not for repayment of indebtedness owed to officers, directors or employees of the Company or their affiliates, the repayment of any debt issued in corporate finance transactions, any loan to or investment in any other corporation, partnership, enterprise or other person (except in connection with the Company's currently existing operations), or any loan, credit, or advance to any officers, directors, employees, or affiliates of the Company. The SPA also: (i) requires the Company to obtain shareholder approval on or before July 23, 2025, to issue shares of Company common stock to FirstFire in excess of the Exchange Cap pursuant to Nasdaq's listing rules, and (ii) until such shareholder approval has been obtained, prohibits the issuance of more shares of common stock to the holder than the number of shares of common stock that may be issued to the holder prior to obtaining shareholder approval in accordance with Nasdaq Rule 5635(d). The Note matures 12 months following the issue date, accrues guaranteed interest of 10% per annum (with the first 12 months of interest guaranteed and earned in full as of issuance of the Note), and is unsecured. The Company is generally required to make monthly payments beginning September 18, 2025 (and on the 18th of each month thereafter) in the amount of $22,137.50 per month. The Note is convertible into shares of the Company's common stock at the election of the holder at a conversion price equal to 85% of the lowest traded price during the 10 trading days prior to the conversion date; provided, however, that the holder may not convert the Note 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. Additionally, the holder of the Note is entitled to deduct $1,750 from the conversion amount in each note conversion to cover the holder's fees associated with the conversion. Copies of the Securities Purchase Agreement & Senior Promissory Note attached to the 8-K, available at https://tinyurl.com/3k8fjrtj 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. COMMUNITY HEALTH: Kevin Hammons to Succeed CEO Tim Hingtgen ----------------------------------------------------------- Community Health Systems, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that Tim L. Hingtgen, the Company's Chief Executive Officer, will retire as an officer and as a member of the Board of Directors of the Company effective September 30, 2025. Mr. Hingtgen informed the Board of his retirement on July 22, 2025. His retirement as a member of the Board is not the result of any disagreement with the Company on any matter related to the Company's operations, policies or practices. It is anticipated that, upon his retirement, Mr. Hingtgen will enter into a consulting agreement with the Company, pursuant to which he will advise the Company's management team on issues related to healthcare operations and other Company matters. Commenting about his decision to retire now, Hingtgen said, "It has been a great privilege to serve as the chief executive officer of CHS and incredibly gratifying to lead an organization that is devoted to helping people get well and live healthier. I am so proud of the accomplishments we've made and I look forward to watching the CHS team continue to achieve their goals. My decision to retire this year is for personal reasons, including a desire to spend more time with my family and to pursue a few dreams I have for my life. This is the right time for me to do that. CHS is a great organization, and I'm confident that it will continue to advance in every possible way under the capable leadership of Kevin Hammons and the many other people who are leading CHS forward." In conjunction with Mr. Hingtgen's retirement, the Company plans to appoint Kevin J. Hammons, currently President and Chief Financial Officer of the Company, to assume the role of Interim Chief Executive Officer effective October 1, 2025. At such time, it is contemplated that Mr. Hammons will no longer serve as Chief Financial Officer of the Company, and that Jason K. Johnson will be appointed as Interim Chief Financial Officer. Mr. Hammons, age 59, has served as the Company's Chief Financial Officer since January 2020, first as Executive Vice President and Chief Financial Officer and, since February 2021, as President and Chief Financial Officer. He joined the Company in 1997, and, in 2002, he was promoted to Assistant Vice President (later Vice President), Financial Reporting. In 2012, he was promoted to Vice President (later Senior Vice President) and Chief Accounting Officer. In 2017, Mr. Hammons was also named Assistant Chief Financial Officer, and he served as Treasurer from 2018 through 2019. In those roles, he was responsible for overseeing accounting and financial reporting, SEC reporting, budgeting, design and implementation of financial systems and processes, capital market transactions, corporate finance and treasury management functions, and the Company's divestiture program. Prior to joining the Company, Mr. Hammons served in various positions in the assurance and advisory services practice at Ernst & Young LLP, serving both public and privately-held companies. Mr. Hammons previously served as a member of the Board of Trustees of Malone University in Canton, Ohio. Mr. Hammons is not a party to any material plan, contract or arrangement with the Company entered into in connection with Mr. Hammons' upcoming appointment, and Mr. Hammons' compensation as Interim Chief Executive Officer has not yet been determined. Hammons said, "I am honored to assume the role of interim chief executive officer and look forward to contributing even more to the progress well underway at CHS. We remain committed to enhancing patient care and outcomes, serving as good partners for our clinicians and caregivers, continuously improving the Company's performance, and providing value for all of our stakeholders. Tim has been an exceptional CEO whom we all admire very much. I'm grateful that he will leave us very well positioned for further success upon his retirement." In conjunction with Mr. Hammons' appointment as Interim Chief Executive Officer, the Company plans to appoint Jason K. Johnson, currently Senior Vice President and Chief Accounting Officer of the Company, to assume the role of Interim Chief Financial Officer effective October 1, 2025. It is contemplated that Mr. Johnson will continue to serve as Chief Accounting Officer of the Company following his appointment as Interim Chief Financial Officer as noted above. Hammons added, "I've worked with Jason for more than a decade and appreciate his willingness to step into this role on an interim basis. Jason is highly regarded by his peers and possesses financial expertise, deep company knowledge, and a confident approach to his work. He's exactly the right person to serve as interim CFO." Mr. Johnson, age 50, serves as Senior Vice President and Chief Accounting Officer. In this role, he is responsible for the Company's SEC reporting matters, as well as overseeing various other accounting and financial reporting matters, including accounting policies and procedures, consolidations and accounting for acquisitions and divestitures. Mr. Johnson joined the Company in 2012 as Vice President, Assistant Corporate Controller, and, in 2018, he was promoted to Vice President, Corporate Controller. In 2019, Mr. Johnson was promoted to Vice President (later Senior Vice President) and Chief Accounting Officer. Prior to joining the Company, Mr. Johnson held various positions in the assurance and advisory services practice at Deloitte & Touche LLP. He also previously served as controller of an alternative energy marketing and distribution company. Mr. Johnson holds a master's degree in accounting from the University of Kentucky. He is a member of the American Institute for Certified Public Accountants and Tennessee Society of Certified Public Accountants. Mr. Johnson is not a party to any material plan, contract or arrangement with the Company entered into in connection with Mr. Johnson's upcoming appointment, and Mr. Johnson's compensation as Interim Chief Financial Officer has not yet been determined. Commenting about the leadership changes, Wayne T. Smith, chairman of the Community Health Systems, Inc. Board of Directors, said, "The Board of Directors is confident that Tim, Kevin, Jason and other Company executives will work closely together to ensure a seamless transition of leadership. Kevin and Jason will excel in their interim roles and in supporting our most important responsibility of providing quality care for patients. I also want to express my personal appreciation for the strong leadership Tim has provided for the Company. He is truly one of the most committed, caring, energetic, and results-oriented executives that I've had the privilege to know and to work with. The Board and I wish him great happiness and fulfillment as he pursues his life's goals." About Community Health Systems Inc. Community Health Systems, Inc. -- http://www.chs.net/-- is a publicly traded hospital company and an operator of general acute care hospitals in communities across the country. Its affiliates provide healthcare services, developing and operating healthcare delivery systems in 40 distinct markets across 15 states. * * * Egan-Jones Ratings Company on January 23, 2025, maintained its 'CCC+' foreign currency and local currency senior unsecured ratings on debt issued by Community Health Systems, Inc. COMTECH TELECOMMUNICATIONS: Magnetar Financial Holds 41.62% Stake ----------------------------------------------------------------- Magnetar Financial LLC and affiliates -- Magnetar Capital Partners LP, Supernova Management LLC, and David J. Snyderman -- disclosed in a Schedule 13D/A (Amendment No. 8) filed with the U.S. Securities and Exchange Commission that as of July 21, 2025, they beneficially own 20,955,989.74 shares of Comtech Telecommunications Corp.'s Common Stock, par value $0.10 per share, representing 41.62% of the 29,395,263 shares outstanding as of June 3, 2025. The reported shares are issuable upon conversion of 147,232.96 shares of Series B-3 Convertible Preferred Stock at an initial conversion price of $7.99 per share, without giving effect to a 9.99% ownership cap, which limits conversion if it would result in exceeding 9.99% of the total outstanding shares. Magnetar Financial may be reached through: David J. Snyderman 1603 Orrington Ave. Evanston, IL, 60201 Tel: (847) 905-4400 A full-text copy of Magnetar Financial LLC's SEC report is available at: https://tinyurl.com/bdnzjfxj About Comtech Telecommunications Corp. Headquartered in Chandler, Arizona, Comtech Telecommunications Corp. -- www.comtech.com -- is a global provider of next-generation 911 emergency systems and secure wireless and satellite communications technologies. This includes the critical communications infrastructure that people, businesses, and governments rely on when durable, trusted connectivity is required, no matter where they are -- on land, at sea, or in the air -- and no matter what the circumstances from armed conflict to a natural disaster. The Company's solutions are designed to fulfill its customers' needs for secure wireless communications in the most demanding environments, including those where traditional communications are unavailable or cost-prohibitive, and in mission-critical and other scenarios where performance is crucial. Jericho, New York-based Deloitte & Touche LLP, the Company's auditor since 2015, issued a "going concern" qualification in its report dated Oct. 30, 2024, citing that the Company has suffered recurring losses and negative cash outflows from operations, and may be unable to maintain compliance with financial covenants required by its credit agreement that raise substantial doubt about its ability to continue as a going concern. Comtech Telecommunications disclosed $793,203,000 in total assets, $494,139,000 in total liabilities, and $150,364,000 in total stockholders' equity at October 31, 2024. COMTECH TELECOMMUNICATIONS: White Hat Entities Hold 9.99% Stake --------------------------------------------------------------- White Hat Strategic Partners LP and its affiliates -- White Hat SP GP LLC, White Hat Strategic Partners II LP, White Hat SP GP II LLC, White Hat Capital Partners LP, David J. Chanley, and Mark R. Quinlan -- disclosed in a Schedule 13D/A (Amendment No. 4) filed with the U.S. Securities and Exchange Commission that as of July 21, 2025, they beneficially own an aggregate of 4,807,109 shares of Comtech Telecommunications Corp.'s common stock, par value $0.10 per share, which includes 4,404,815 shares issuable upon conversion of Series B-3 Convertible Preferred Stock and 54,655 shares underlying restricted stock units held by Mr. Quinlan, representing approximately 9.99% of Comtech's 29,395,263 shares outstanding as reported in the Company's Form 10-Q filed on June 9, 2025. The conversion of the preferred shares is subject to a beneficial ownership limitation (the "Blocker"), which restricts ownership to no more than 9.99% at any given time. White Hat Strategic Partners may be reached through: Mark R. Quinlan, Managing Member c/o White Hat Capital Partners LP 520 Madison Avenue, 33rd Floor New York, NY 10022 Tel: (212) 257-5940 A full-text copy of White Hat Strategic Partners' SEC report is available at: https://tinyurl.com/mt77wats About Comtech Telecommunications Corp. Headquartered in Chandler, Arizona, Comtech Telecommunications Corp. -- www.comtech.com -- is a global provider of next-generation 911 emergency systems and secure wireless and satellite communications technologies. This includes the critical communications infrastructure that people, businesses, and governments rely on when durable, trusted connectivity is required, no matter where they are -- on land, at sea, or in the air -- and no matter what the circumstances from armed conflict to a natural disaster. The Company's solutions are designed to fulfill its customers' needs for secure wireless communications in the most demanding environments, including those where traditional communications are unavailable or cost-prohibitive, and in mission-critical and other scenarios where performance is crucial. Jericho, New York-based Deloitte & Touche LLP, the Company's auditor since 2015, issued a "going concern" qualification in its report dated Oct. 30, 2024, citing that the Company has suffered recurring losses and negative cash outflows from operations, and may be unable to maintain compliance with financial covenants required by its credit agreement that raise substantial doubt about its ability to continue as a going concern. Comtech Telecommunications disclosed $793,203,000 in total assets, $494,139,000 in total liabilities, and $150,364,000 in total stockholders' equity at October 31, 2024. CUBCOATS ACQUISITION: Case Summary & 15 Unsecured Creditors ----------------------------------------------------------- Debtor: Cubcoats Acquisition Vehicle LLC 6565 Sunset Blvd. #411 Los Angeles, CA 90028 Business Description: Cubcoats Acquisition Vehicle, LLC is a special-purpose entity formed to acquire assets related to the "Cubcoats" children's brand, including intellectual property and character rights. The Company executed an asset purchase agreement with Peak Theory, Inc. in 2023 through a bankruptcy court -supervised sale in the District of Utah. Chapter 11 Petition Date: August 1, 2025 Court: United States Bankruptcy Court Central District of California Case No.: 25-16684 Debtor's Counsel: Giovanni Orantes, Esq. THE ORANTES LAW FIRM, A.P.C. 3435 Wilshire Blvd., 27th Floor Los Angeles, CA 90010 Tel: (888) 619-8222 Fax: (877) 789-5776 E-mail: go@gobklaw.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Frankie Ordoubadi as manager. A full-text copy of the petition, which includes a list of the Debtor's 15 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/SEQQ5GA/Cubcoats_Acquisition_Vehicle_LLC__cacbke-25-16684__0001.0.pdf?mcid=tGE4TAMA CVB INC: Suppliers Seeks Involuntary Chapter 7 Bankruptcy in Utah ----------------------------------------------------------------- Daniel Kline of The Street reports that CVB Inc. is facing a potential forced liquidation after six suppliers filed an involuntary Chapter 7 bankruptcy petition in the U.S. Bankruptcy Court for the District of Utah, citing unpaid debts totaling about $3.5 million. According to the report, the petition, filed July 23, 2025, lists six international creditors: Duoman International Ltd., Metalway Co. Ltd., Hebei Home Fashions, Zhejiang Liuqiao Home Textile Co. Ltd., Ningbo Megafeat Bedding Co. Ltd., and Ningbo Unity International Trading Co. Ltd., Furniture Today reported. Ningbo Megafeat Bedding holds the largest claim at over $1.7 million, followed by Hebei Home Fashions with more than $1 million. The remaining creditors seek amounts ranging from roughly $25,000 to nearly $293,000, according to The Street. A CVB Inc. attorney told Furniture Today the company disputes the claims. Despite the filing, Lucid Mattress and other CVB brands remain operational. An involuntary Chapter 7 petition allows creditors to initiate bankruptcy proceedings to compel the liquidation of a debtor's assets, with proceeds distributed to pay outstanding debts if approved by the court, the report states. About CVB Inc. CVB Inc., also does business as Lucid and Malouf, is a famous furniture retailer. CVB Inc. suppliers sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. D. Utah Case No. 25-24249) on July 23, 2025. Honorable Bankruptcy Judge Kevin R. Anderson handles the case. CWB REALTY: Unsecured Creditors Will Get 5% of Claims in Plan ------------------------------------------------------------- CWB Realty submitted a First Amended Subchapter V Plan of Reorganization dated July 28, 2025. The Plan is designed to address setbacks and reposition the Properties for long-term success through increased occupancy, targeted renovations, and financial restructuring. The Debtor will maintain the current tenants and increase occupancy in the Properties to maximize immediate monthly rental income. The additional rental revenue will be used to cover operational expenses and fund further improvements. The Debtor will pay the secured claim of the Town of North Attleboro over the first 44 months of the plan. The first priority mortgage held by each Mortgage holder shall continue in force to secure payment of their Allowed Secured Claims. In addition, the secured claim of the City of Attleboro and the priority claim of the MDOR, if any, will be paid in full on the effective date of the plan. The payments to unsecured creditors under the Plan are equal to the Debtor's net disposable income over the course of the Plan and will equal at least 5% of the total allowed general unsecured claims. Class 3 consists of Allowed General Unsecured Claims Against the Debtor. Based upon the Proofs of Claim that have been filed and the Debtor's Schedules, the Debtor estimates that there will be approximately $8,000.00 owed to general unsecured creditors, a priority tax claim in the amount of $37.21 owed to the Massachusetts Department of Revenue, and an estimated $537,202.78 in unsecured claims which will arise as a result of the bifurcation of undersecured debt. In full and complete settlement, satisfaction and release of all Allowed Class 3 Claims, each holder of an Allowed Class 3 Claim shall receive payment equal to the Debtor's net disposable income over the course of the Plan as follows: * each holder of an Allowed Class 3 Claim who is entitled to receive a total distribution under the Plan in an amount equal to or less than $100.00 (a "De Minimis Claimants") shall be paid such distribution in the form of a one-time lump sum cash payment on the effective date; and, * each holder of an Allowed Class 3 Claim who is entitled to receive a total distribution under the Plan in an amount exceeding $100.00 shall be paid such distributions in deferred cash payments, after payment of all Allowed Class 1 Real Estate Tax Claims and Allowed Administrative Claims in full. The Debtor anticipates, thereafter, that it will have net disposable income of approximately $24,000.00 which shall be payable to holders of Allowed Class 3 Claims over the final 12 months of the Plan. The Debtor anticipates that such distribution shall be in the range of five percent of such Allowed Claims. Class 3 is impaired. The Plan will be funded from the Debtor's future earnings and income. Upon the effective date, the Debtor is authorized to take all action permitted by law, including, without limitation, to use its cash and other assets for all purposes provided for in the Plan and in its business operations, and to borrow funds and to transfer funds for any legitimate purpose. A full-text copy of the First Amended Plan dated July 28, 2025 is available at https://urlcurt.com/u?l=EZHL4x from PacerMonitor.com at no charge. Counsel to the Debtor: Hilmy Ismail, Esq. Law Office of Hilmy Ismail 322 East Washington Street North Attleboro, MA 02760 Tel: (508) 316-3904 Email: Hilmy@hilmyismaillaw.com About CWB Realty CWB Realty is a Massachusetts Business Trust that manages and operates the rental of four residential properties. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Mass. Case No. 25-10446) on March 6, 2025, listing between $1 million and $10 million in both assets and liabilities. Judge Christopher J. Panos oversees the case. Hilmy Ismail, at the Law Office of Hilmy Ismail, is the Debtor's bankruptcy counsel. D LASSEN: Court Extends Cash Collateral Access to Oct. 20 --------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of California, Oakland Division, granted D Lassen LLC's motion for interim use of cash collateral. The court authorized the Debtor's interim use of cash collateral through October 20 to pay operating expenses in accordance with its budget. As protection, Debtor must make monthly payments of $35,471.58 to the State Bank of Texas. The final hearing is scheduled for October 20. The Debtor needs to use the cash collateral of State Bank of Texas and other secured creditors to maintain motel operations during reorganization. The business -- a 104-room Super 8 by Wyndham motel in Livermore, Calif. -- is owned by Jagmohan and Amandeep Dhillon. As of the petition date, State Bank of Texas is owed $7,994,483.83. The other secured creditors are Alameda County Treasurer and Tax Collector ($129,571); DM Funding, LLC ($1,825,814.02); Underground Lending, LLC ($2,548,201); and GreenLake Real Estate Finance ($92,710,000). About D Lassen LLC D Lassen, LLC operates the Super 8 Livermore motel and owns the property at 4673 Lassen Road, Livermore, California. The property is estimated to be worth $5.5 million. D Lassen sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Calif. Case No. 25-40887) on May 21, 2025. In its petition, the Debtor reported total assets of $5,630,234 and total liabilities of $112,331,714. Judge William J. Lafferty oversees the case. Michael Jay Berger, Esq., at the Law Offices of Michael Jay Berger is the Debtor's bankruptcy counsel. State Bank of Texas is represented by: Christopher J. Conant, Esq. Hatch Ray Olsen Conant, LLC 730 17TH Street, Suite 200 Denver, CO 80202 Telephone: (303) 298-1800 cconant@hatchlawyers.com DANIEL TRUCKING: Seeks to Hire Gutnicki as Co-Bankruptcy Counsel ---------------------------------------------------------------- Daniel Trucking International, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to employ Gutnicki LLP as co-bankruptcy counsel. The firm will provide these services: (a) negotiate with creditors; (b) prepare a plan; (c) examine and resolve claims filed against the estate; (d) prepare and prosecute adversary proceedings; if any; (e) prepare pleadings filed in the case; (f) interact with the U.S. Trustee; (g) attend court hearings; and (h) otherwise represent the Debtor in matters before the court. The firm will be paid at these hourly rates: Miriam Stein Granek, Of Counsel $450 Attorneys $345 - $850 Ms. Granek 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: Miriam Stein Granek, Esq. Gutnicki LLP 4711 Golf Rd., Ste. 200 Skokie, IL 60076 Telephone: (847) 745-6592 Email: mgranek@gutnicki.com About Daniel Trucking International Daniel Trucking International Inc. is a Wheeling, Illinois-based transportation company. Daniel Trucking International Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-10329) on July 7, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Deborah L. Thorne handles the case. The Debtor is represented by David Freydin, Esq., at Law Offices of David Freydin Ltd. and Miriam Stein Granek, Esq., at Gutnicki LLP. DFND SECURITY: Case Summary & Five Unsecured Creditors ------------------------------------------------------ Debtor: DFND Security, Inc. f/k/a Chronos Global, Inc. 18101 Von Karmen Avenue Suite 230 Irvine, CA 92612 Business Description: DFND Security, Inc is a California- headquartered cybersecurity and IT strategy firm that provides enterprise-level technology architecture, security solutions and talent sourcing for global corporations. It partners with organizations across North and South America, Europe and beyond, drawing on a team of former C-suite IT and security leaders with experience at Oracle, NetApp, Broadcom, Sony and Intuit. Through a flexible engagement model, DFND Security helps clients address complex IT and cybersecurity challenges at scale. Chapter 11 Petition Date: August 1, 2025 Court: United States Bankruptcy Court Central District of California Case No.: 25-12150 Debtor's Counsel: Marc C. Forsythe, Esq. GOE FORSYTHE & HODGES LLP 17701 Cowan Lobby D, Suite 210 Irvine, CA 92614 Tel: (949) 798-2460 E-mail: forsythe@goeforlaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Tony Miranda as president. A full-text copy of the petition, which includes a list of the Debtor's five unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/RYCRTQQ/DFND_Security_Inc__cacbke-25-12150__0001.0.pdf?mcid=tGE4TAMA DIAMOND COMIC: Seeks to Extend Plan Exclusivity to Oct. 29 ---------------------------------------------------------- Diamond Comic Distributors, Inc. and its affiliates asked the U.S. Bankruptcy Court for the District of Maryland to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to October 29 and December 29, 2025, respectively. The Debtors claim that these chapter 11 cases involve four jointly-administered Debtors, which employed over four hundred people as of the Petition Date. As disclosed in the Debtors' schedules of assets and liabilities, the Debtors have over 1,000 creditors and had over $80 million in debt. The number of creditors and size of the debt mandated the Debtors to file the Notice of Application of Complex Chapter 11 Case Procedures as required by the Complex Chapter 11 Case Procedures of the Local Bankruptcy Rules. The Debtors explain that the extension request is reasonable and consistent with the prosecution of these chapter 11 cases because it will provide the Debtors with additional time to consider important issues, negotiate, draft and finalize a plan, and solicit acceptances. Allowing the Exclusive Periods to lapse now would defeat the purpose of section 1121 and deprive the Debtors and their creditors of the benefit of a meaningful and reasonable opportunity to negotiate the liquidation of certain assets and a consensual plan. Since the Petition Date, the Debtors have paid, or are working to pay, their undisputed postpetition obligations in the ordinary course of business or as otherwise required by Court order. The Debtors assert that their progress in achieving their goals of obtaining court approval of the Sale Orders, and the subsequent closing of the sales to Universal and Sparkle Pop demonstrate that the Debtors will be able to approach the plan formulation in an effective manner. An extension of the Exclusive Periods will allow the Debtors adequate time to monetize their remaining assets and then negotiate a chapter 11 plan with the key stakeholders, file the plan, and solicit votes on the plan. The Debtors further assert that they are not seeking an extension of the Exclusive Periods to pressure the Debtors' creditors or other parties in interest, and the Debtors believe that no party in interest will be prejudiced by the extension of the Exclusive Periods. The Debtors intend to use the extended Exclusive Periods to, among other things, seek court approval of the Consignment Sale Motion and the Diamond UK Sale Motion, analyze proof of claims, litigate claims against AENT, determine the best exit strategy for these cases, and negotiate with the Committee and other parties in interest. The Debtors' Counsel: Jordan D. Rosenfeld, Esq. SAUL EWING LLP 1001 Fleet Street, 9th Floor Baltimore, MD 21202 Tel: (410) 332-8600 Email: jordan.rosenfeld@saul.com - and - Jeffrey C. Hampton, Esq. Adam H. Isenberg, Esq. Turner N. Falk, Esq. 1500 Market Street, 38th Floor Philadelphia, PA 19102 Tel: (215) 972-7777 Email: jeffrey.hampton@saul.com adam.isenberg@saul.com turner.falk@saul.com - and - Mark Minuti, Esq. Paige N. Topper, Esq. Nicholas Smargiassi, Esq. 1201 N. Market Street, Suite 2300 Wilmington, DE 19801 Tel: (302) 421-6800 Email: mark.minuti@saul.com paige.topper@saul.com nicholas.smargiassi@saul.com About Diamond Comic Distributors Founded in 1982, Diamond Comic Distributors Inc. offers a multi-channel platform of publishing, marketing and fulfillment services, coupled with an unparalleled global distribution Network for its retailers, publishers and vendors. Diamond Comic Distributors and its affiliates filed Chapter 11 petitions (Bankr. D. Md. Case No. 25-10308) on Jan. 14, 2025. At the time of the filing, Diamond Comic Distributors reported between $50 million and $100 million in both assets and liabilities. Judge David E. Rice handles the case. The Debtors tapped Saul Ewing, LLP as legal counsel; Getzler Henrich & Associates, LLC as financial advisor; Raymond James & Associates, Inc., as investment banker; and Stephenson Harwood, LLP as U.K. counsel. Omni Agent Solutions is the Debtors' claims and noticing agent and administrative agent. DORMIFY INC: Plan Exclusivity Period Extended to September 17 ------------------------------------------------------------- Judge Thomas M. Horan of the U.S. Bankruptcy Court for the District of Delaware extended Dormify, Inc.'s exclusive periods to file a plan of reorganization and obtain acceptance thereof to September 17 and November 18, 2025, respectively. As shared by Troubled Company Reporter, the Debtor explains that extension of the Exclusive Periods is justified by the progress it made toward consummating a sale. In addition, the Debtor is also undertaking other activities which will return funds to the estate, such as investigating preferential and/or fraudulent transfer issues, which are expected to further augment estate funds. However, proposing a chapter 11 plan before these activities can be completed would be premature and would not allow sufficient time to successfully secure these funds for the estate, which is necessary to determine the amount of recovery to creditors under a chapter 11 plan. The Debtor claims that the extension of the Exclusive Periods will afford the company time to augment the estate via the activities. For that reason, the extension of the Exclusive Periods will not harm parties in interest, but rather will benefit parties in interest as the Debtor coordinates with those parties to propose a feasible chapter 11 plan, fully developing the grounds upon which such plan can be based. The Debtor asserts that terminating the Exclusive Periods prematurely would defeat the very purpose of section 1121 of the Bankruptcy Code, to afford the Debtor a meaningful and reasonable opportunity to negotiate with creditors and propose and confirm a consensual plan. Dormify, Inc., is represented by: GOLDSTEIN & MCCLINTOCK LLLP Maria Aprile Sawczuk, Esq. 501 Silverside Road, Suite 65 Wilmington, DE 19809 Telephone: (302) 444-6710 Email: marias@goldmclaw.com - and - Harley J. Goldstein, Esq. Ainsley G. Moloney, Esq. Joshua M. Grenard, Esq. William H. Thomas, Esq. 111 W. Washington Street, Suite 1221 Chicago, IL 60602 Telephone: (312) 337-7700 Email: harleyg@goldmclaw.com ainsleyg@goldmclaw.com joshuag@goldmclaw.com willt@goldmcl About Dormify Inc. Dormify, Inc., filed a Chapter 11 petition (Bankr. D. Del. Case No. 24-12634) on Nov. 18, 2024, with $1 million to $10 million in assets and $10 million to $50 million in liabilities. Judge Thomas M. Horan oversees the case. The Debtor tapped Goldstein & McClintock, LLLP, as counsel and B. Riley Advisory Services as financial advisor. Reliable Companies is the Debtor's claims and noticing agent. DYNASTY SONG: Seeks to Tap Farsad Law Office as Bankruptcy Counsel ------------------------------------------------------------------ Dynasty Song, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of California to employ Farsad Law Office, PC as counsel. The firm will provide these services: (a) advise the Debtor on bankruptcy duties and obligations; (b) prepare necessary schedules, statements, monthly operating reports, and the Plan of Reorganization; (c) represent the Debtor in hearings, negotiations, and communications with creditors and the Subchapter V Trustee; and (d) prepare and respond to motions, applications, and objections as required. The firm will be paid at these hourly rates: Arasto Farsad, Partner $400 Nancy Weng, Partner $400 Paralegals $100 In addition, the firm will seek reimbursement for expenses incurred. The Debtor retained the firm on or about June 17, 2025, and paid a total retainer of $21,738. Mr. Farsad 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: Arasto Farsad, Esq. Farsad Law Office, P.C. 1625 The Alameda, Ste. 525 San Jose, CA 95126 Telephone: (408) 641-9966 Facsimile: (408) 866-7334 Email: af@farsadlaw.com About Dynasty Song LLC Dynasty Song, LLC operates apartment buildings in San Mateo County, California. The company is associated with a multifamily residential property located at 260 San Marco Avenue in San Bruno. Dynasty Song sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 25-30482) on June 18, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and liabilities. The Debtor is represented by Arasto Farsad, Esq., at Farsad Law Office, PC. DYNASTY TANG: Seeks to Tap Farsad Law Office as Bankruptcy Counsel ------------------------------------------------------------------ Dynasty Tang, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of California to employ Farsad Law Office, PC as counsel. The firm will provide these services: (a) advise the Debtor on bankruptcy duties, strategy, and compliance; (b) prepare and file schedules, statements, pleadings, and the reorganization plan; (c) represent the Debtor at hearings, in negotiations with creditors, and before the U.S. Trustee; and (d) draft and respond to motions, objections, and applications as required. The firm will be paid at these hourly rates: Arasto Farsad, Partner $400 Nancy Weng, Partner $400 Paralegals $100 In addition, the firm will seek reimbursement for expenses incurred. The Debtor retained the firm on or about June 17, 2025, and paid a total retainer of $21,738. Mr. Farsad 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: Arasto Farsad, Esq. Farsad Law Office, P.C. 1625 The Alameda, Ste. 525 San Jose, CA 95126 Telephone: (408) 641-9966 Facsimile: (408) 866-7334 Email: af@farsadlaw.com About Dynasty Tang LLC Dynasty Tang, LLC operates and manages multi-unit residential rental properties. Dynasty Tang sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 25-30481) on June 18, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and liabilities. The Debtor is represented by Arasto Farsad, Esq., at Farsad Law Office, P.C. EMBLEMHEALTH INC: A.M. Best Affirms C(Weak) FS Rating ----------------------------------------------------- AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of C (Weak) and the Long-Term Issuer Credit Rating of "ccc" (Weak) of Health Insurance Plan of Greater New York, EmblemHealth Insurance Company and EmblemHealth Plan, Inc., collectively referred to as Emblem. All companies are subsidiaries of EmblemHealth, Inc. and are domiciled in New York (NY). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect Emblem's balance sheet strength, which AM Best assesses as very weak, as well as its marginal operating performance, neutral business profile and marginal enterprise risk management (ERM). AM Best assesses Emblem's balance sheet strength as very weak, with risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR), also assessed as very weak. Absolute capital and surplus improved slightly in 2024, driven by unrealized capital gains that offset net losses. In the first quarter of 2025, Emblem reported further improvement in its capital and surplus as well as gains from the sale of ConnectiCare operations in the first quarter of 2025, which resulted in more than a $60 million improvement in the capital and surplus at Health Insurance Plan of Greater New York, the lead entity. Emblem's investment portfolio is conservative, with cash and short-term comprising over half of the investment portfolio at year-end 2024. Although capital and surplus improved in 2024 and through first-quarter 2025, Health Insurance Plan of Greater New York, the lead operating entity, remains under a capital restoration plan with the New York State Department of Financial Services. The company is forecasting to restore capital by the end of 2025 and conclude the capital restoration plan. Emblem has a long-term trend of net losses and underwriting losses. However, AM Best acknowledges that results improved through year-end 2024, which continued into the first quarter of 2025. In the first quarter of 2025, Emblem reported a significant reduction in underwriting losses year over year and reported a slight net income for the quarter, which keeps a trend of three consecutive quarters of net income. The neutral business profile reflects Emblem's solid market position in the greater New York City market with a long-standing presence. Additionally, the organization derives a large portion of its membership from union and labor accounts, anchored by the City of New York account. Emblem's ERM is assessed as marginal. While the company has a fully developed ERM program, the organization faced challenges over the years (specifically during Covid periods) in meeting projections and the restoration plan with the New York State Department of Financial Services. Emblem has exceeded the restoration plan projections for the last two years. ENDO INC: S&P Raises ICR to 'BB-', Off CreditWatch Positive ----------------------------------------------------------- S&P Global Ratings raised its issuer credit rating on specialty pharmaceutical company Endo Inc. to 'BB-' from 'B+' and removed it from CreditWatch, where S&P placed it with positive implications on March 14, 2025. The outlook is stable, in line with the stable outlook at parent Mallinckrodt. S&P subsequently withdrew its issuer credit rating on Endo. Endo Inc. has completed its merger with Mallinckrodt PLC to form a combined specialty and generic pharmaceutical company. Endo is now a wholly owned subsidiary of Mallinckrodt. On Aug. 1, 2025, Endo completed its merger with Mallinckrodt. S&P said, "We raised our rating on the company to ‘BB-' and assigned a stable outlook to equalize it with our rating and outlook on Mallinckrodt. We now consider Endo a core subsidiary of Mallinckrodt because its operations are highly consistent with its parent's business and strategy." S&P subsequently withdrew its issuer credit rating on Endo. S&P said, "We raised our issue-level rating on the super-priority revolving credit facility issued by Endo Finance Holdings Inc. to 'BBB-' from 'BB'. The recovery rating is '1+', reflecting our expectation for full recovery in the event of payment default. We raised the rating on the senior secured term loan and notes to 'BB-' from 'B+'. The recovery rating is '3', reflecting our expectation for meaningful recovery (50%-70%; rounded estimate: 55%)." ENDO INT'L: Plan Administrator Wins Bid to Reclassify Claims ------------------------------------------------------------ The Honorable James L. Garrity, Jr. of the United States Bankruptcy Court for the Southern District of New York sustains the Fifth Omnibus Objection of Patrick J. Bartels to certain priority claims in the Chapter 11 cases. Bartels is the Plan Administrator of the remaining debtors of Endo International plc and its debtor-affiliates. On May 23, 2025, the Plan Administrator filed his Fifth Omnibus Objection to Claims. In support of the Objection, the Plan Administrator submitted the declaration of Erin McKeighan. In the Objection, the Plan Administrator seeks entry of an order pursuant to sections 105(a), 502, and 558 of the Bankruptcy Code, and rule 3007 of the Federal Rules of Bankruptcy Procedure, reclassifying certain priority claims. Robert Fox and Dr. Denise Sneed Savage each filed a claim in the Chapter 11 Cases seeking priority treatment under the Bankruptcy Code. Each claim is subject to the Objection. Mr. Fox and Dr. Savage are acting pro se. On June 24, 2025, the Court held a hearing on the Objection. At that time, the Court adjourned its consideration of the Objection to the Claims. On June 24, 2025, the Court sustained the Objection (excluding the Claims). The matter before the Court is the adjourned hearing on the Objection as it relates to the Claims. On July 24, 2025, the Court conducted a hearing on the Objection to the Claims and heard argument from the Plan Administrator. Dr. Savage asserts that she is seeking damages of $500,000 plus interest. She asserts that the claim is entitled to priority status under sections 503(b)(9) and 507(a)(4) of the Bankruptcy Code. She also states that the claim arises from Juluis Alton Sneed's use of ranitidine and the resulting multiple myeloma cancers that caused his death. She represents her claim is based on personal injury to Juluis Alton Sneed (deceased). Dr. Savage objects to the reclassification of the Savage Claim. She states that the Plan Administrator should not try to lower her categories. The Fox Claim asserts a $6.9 million claim against Endo. Mr. Fox states the claim is based on services performed, wages lost, earning capacity limited. He represents that half his claim, $3.45 million, is entitled to priority status under section 507(a)(5) of the Bankruptcy Code. Mr. Fox seeks compensation for the direct and consequential damages resulting from the Debtors' conduct related to the opioid crisis. He complains that the Debtors seek to reclassify, subordinate, or otherwise diminish the status of his claim in a manner inconsistent with the facts, the equities of this case, and applicable bankruptcy law based on compensatory damages and punitive damages relating to loss of earning capacity and societal statement. Mr. Fox objects to any reclassification, reduction, subordination, or disallowance of his claim and asserts that his claim should be allowed in full with priority as a valid, unsecured, and compensable claim arising from actual and consequential damages suffered in connection with the Debtors' conduct. The Plan Administrator explains that in the Objection, he does not seek to disallow the claims asserted by Mr. Fox and Dr. Savage, but rather objects to the classification of the Fox Claim and Savage Claim, because the claims are not entitled to the priority status they assert. He requests that the Court reclassify the claims to the particular trust set up to handle such claim to ensure these claimants receive the same recovery as similarly situated creditors. He argues that the failure to do so, would result in Mr. Fox and Dr. Savage receiving unwarranted recoveries, at the expense of other similarly situated creditors. The Plan Administrator argues that as a matter of law, Dr. Savage cannot state an administrative expense priority claim under section 503(b)(9), because her claim is not on account of goods delivered to the debtor in the ordinary course of its business within twenty days prior to the commencement of the bankruptcy filing. He also contends that Dr. Savage's and Mr. Fox's claims for priority treatment under sections 507(a)(4) and (5), respectively, fail because neither was an Endo employee, and Mr. Fox was never a party to an Endo employee benefit plan. The Plan Administrator requests that the Savage Claim should be reclassified to a Class 4(D) Ranitidine Claim. He believes that the Fox Claim should be reclassified to a Class 11 Other Opioid Claim. Dr. Savage objects to the reclassification of the Savage Claim and requests that the claim remain in its current classification. As noted previously, in the Objection, the Plan Administrator does not challenge the validity of the Savage Claim. Instead, he contends, and the Court agrees, that the claim is not entitled to priority treatment under either section 503(b)(9) or section 507(a)(4) of the Bankruptcy Code. According to the Court, the Savage Claim does not arise out of the delivery of goods to the Debtors, within twenty days of the Petition Date, in the ordinary course of their businesses. The claim is therefore not entitled to administrative expense priority under section 503(b)(9) of the Bankruptcy Code, the Court concludes. The Plan Administrator contends, and the Court agrees, that the Savage Claim should be reclassified as a Class 4(D) Ranitidine Claim. The Court also finds Mr. Fox is not entitled to priority treatment pursuant to section 507(a)(5) of the Bankruptcy Code because he was not an individual employee of any of the Debtors. Further, the Fox Claim indicates that it is for services performed, lost wages, and a reduction in earning capacity, not contributions to an employee benefit program made by the Debtors. Because Mr. Fox did not have an employer-employee relationship with the Debtors, the Fox Claim is not entitled to priority status under section 507(a)(5) of the Bankruptcy Code, the Court concludes. According to the Court, the Fox Claim is not related to an opioid injury. It falls outside of the scope of Class 7(A) PI Opioid Claims. However, it is otherwise related to the allegations concerning the Debtors' manufacturing, marketing and sale of opioids. The Plan Administrator contends, and the Court agrees, that the Fox Claim should be reclassified as a Class 11 Other Opioid Claim. A copy of the Court's Memorandum Decision is available at http://urlcurt.com/u?l=BPLogAfrom PacerMonitor.com. About Endo International PLC Endo International plc (OTC: ENDPQ) is a generics and branded pharmaceutical company. It develops, manufactures, and sells branded and generic products to customers in a wide range of medical fields, including endocrinology, orthopedics, urology, oncology, neurology, and other specialty areas. On the Web: http://www.endo.com/ Endo International and certain of its subsidiaries initiated voluntary prearranged Chapter 11 proceedings (Bankr. S.D.N.Y. Lead Case No. 22-22549) on Aug. 16, 2022. On May 25, 2023, Operand Pharmaceuticals Holdco II Limited and Operand Pharmaceuticals Holdco III Limited each filed a voluntary Chapter 11 petition also in the U.S. Bankruptcy Court for the Southern District of New York. On May 31, 2023, Operand Pharmaceuticals II Limited and Operand Pharmaceutical III Limited each filed a voluntary Chapter 11 petition also in the Southern District of New York. The Company's cases are jointly administered before the Honorable James L. Garrity, Jr. Endo initiated the financial restructuring process after reaching an agreement with a group of its senior debtholders on a transaction that would substantially reduce outstanding debt, address remaining opioid and other litigation-related claims, and best position Endo for the future. This would allow the Company to advance its ongoing business transformation from a strengthened financial position to create compelling value for its stakeholders over the long term. Endo's India-based entities are not part of the Chapter 11 proceedings. The Company has filed recognition proceedings in Canada and expects to file similar proceedings in the United Kingdom and Australia. The Debtors tapped Skadden, Arps, Slate, Meagher & Flom, LLP as legal counsel; PJT Partners, LP as investment banker; and Alvarez & Marsal North America, LLC as financial advisor. Kroll Restructuring Administration, LLC, is the claims agent and administrative advisor. A Website dedicated to the restructuring is at http://www.endotomorrow.com/ Roger Frankel, the legal representative for future claimants in the Chapter 11 cases, tapped Frankel Wyron LLP and Young Conaway Stargatt & Taylor, LLP, as legal counsels, and Ducera Partners, LLC, as investment banker. ENDRA LIFE: Launches Crypto Treasury Strategy, Forms Advisory Board ------------------------------------------------------------------- ENDRA Life Sciences Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Board of Directors has authorized the Company to develop and pursue a cryptocurrency treasury strategy. Following this authorization, the Company has: (i) retained Anchorage Digital Bank, N.A., a U.S.-based, institutional-grade custodian, to hold cryptocurrency acquired by the Company in connection with its treasury strategy and (ii) engaged Arca Investment Management, LLC to manage the Company's cryptocurrency holdings and to implement a bitcoin-based income-generating strategy. On July 23, 2025, in connection with the Company's cryptocurrency treasury strategy, the Board formed a Cryptocurrency Advisory Board to assist the Company in developing and managing its cryptocurrency treasury strategy. The Board appointed the following individuals to the Advisory Board: * James Altucher, an entrepreneur, author, cryptocurrency advocate, and former hedge fund manager; * James Manning, founder and CEO of Mawson Infrastructure Group, a U.S.-focused digital infrastructure provider; and * Rayne Steinberg, co-founder and CEO of Arca Investment Management, LLC, an institutional-grade cryptocurrency asset management firm. About ENDRA Life Sciences Headquartered in Ann Arbor, MI, ENDRA Life Sciences Inc. -- http://www.endrainc.com/-- is the pioneer of Thermo-Acoustic Enhanced UltraSound (TAEUS), a ground-breaking technology being developed to assess tissue fat content and monitor tissue ablation during minimally invasive procedures, at the point of patient care. TAEUS is focused on the measurement of fat in the liver as a means to assess and monitor steatotic liver disease and metabolic dysfunction-associated steatohepatitis, chronic liver conditions that affect over two billion people globally, and for which there are no practical diagnostic tools. The report of the Company's independent accounting firm, RBSM LLP contained 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, generated negative cash flows from operating activities, has an accumulated deficit, which raise substantial doubt about Company's ability to continue as a going concern. As of Dec. 31, 2024, ENDRA Life Sciences had $4.45 million in total assets, $1.89 million in total liabilities, and $2.56 million in total stockholders' equity. EXPEDITOR SYSTEMS: Court Allows $21,910 in Attorney Fees, Costs --------------------------------------------------------------- Judge Timothy A. Barnes of the United States Bankruptcy Court for the Northern District of Illinois issues his findings of fact and conclusions of law in support of order awarding to Gensburg Calandriello & Kanter, P.C., attorneys for Expeditor Systems, Inc., for allowance and payment of final compensation and reimbursement of expenses. TOTAL FEES REQUESTED: $21,280.00 TOTAL COSTS REQUESTED: $829.13 TOTAL FEES REDUCED: $198.65 TOTAL COSTS REDUCED: $0.00 TOTAL FEES ALLOWED: $21,081.35 TOTAL COSTS ALLOWED: $829.13 TOTAL FEES AND COSTS ALLOWED: $21,910.48 In addition to the disallowance, the Court further reduces the requested fees by $88.00 on a voluntary basis by the Debtor's counsel, Gensburg Calandriello & Kanter, P.C. That additional reduction is related to certain filings done by attorneys for the Firm and billed at a rate higher than is appropriate. Further, the Firm is authorized to apply the post-petition retainer it received from the Debtor in the amount of $15,000 to the professional fees allowed pursuant to this order. The total of disallowed amounts for lumping is $110.65 (10% of affected entries). The Court may impose a ten percent penalty on entries that appear to be "lumping." The Court will reduce each entry marked as such per the penalty. A copy of the Court's Findings of Fact and Conclusions of Law is available at http://urlcurt.com/u?l=P0flY5 About Expeditor Systems Expeditor Systems, Inc. is a company in Carol Stream, Ill., engaged in electrical equipment, appliance, and component manufacturing. Expeditor Systems sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 24-07413) on May 17, 2024, with $1 million to $10 million in both assets and liabilities. Igor Terletsky, president of Expeditor Systems, signed the petition. Judge Donald R. Cassling presides over the case. John F. Hiltz, Esq., at Leibowitz, Hiltz & Zanzig, LLC represents the Debtor as counsel. FCI SAND: Seeks $1.5MM DIP Loan From Sterling ICF ------------------------------------------------- FCI Sand Operations, LLC and FCI South, LLC asked the U.S. Bankruptcy Court for the Northern District of Texas for authority to obtain post-petition financing on a superpriority and first priority secured basis, including priming liens, in order to preserve and continue operations. The Debtors operate sand mining and processing facilities that supply high-quality sand (98% quartz) for hydraulic fracturing, with major customers including Halliburton and Conoco. The recent completion of a second processing plant and a temporary decline in customer orders resulted in a significant liquidity crisis. The Debtors' pre-petition senior secured lender, FCI-SLG, LLC, is owed approximately $26 million. The lender objected to recent equity sales and began exercising remedies, further straining liquidity. To stabilize operations, the Debtors proposed debtor-in-possession financing from Sterling ICF II, LLC, in the amount of $1.5 million on an interim basis and up to $6 million on a final basis, with the following key terms: 1. 9-month term 2. 15% interest (18% default) 3. 5% origination fee 4. Superpriority status under 11 U.S.C. section 507(b), subject to a carveout 5. Priming liens on all assets except cash collateral and Chapter 5 claims 6. Use of proceeds governed by a proposed DIP budget 7. No roll-up or lock-up provisions The Debtors argued this financing is critical to avoid immediate and irreparable harm. Without it, they risk ceasing operations, losing employees and customers, and damaging the value of their business. They asserted that their existing lender is heavily oversecured, with real estate and mineral assets worth tens of millions -- far in excess of its claim -- thus satisfying the adequate protection requirement under 11 U.S.C. sections 364(c) and (d). Additionally, the Debtors asserted that any potential lien the pre-petition lender may have on post-petition proceeds can and should be limited under the "equities of the case" exception in 11 U.S.C. section 552(b). This is because the sand gains value only after being processed using estate-funded labor, utilities, and equipment. Citing relevant case law, the Debtors argued that not all resulting proceeds should qualify as the lender's cash collateral. A copy of the motion is available at https://urlcurt.com/u?l=Dvng9a from PacerMonitor.com. About FCI Sand Operations LLC FCI Sand Operations LLC is a sand mining and processing company based in Marble Falls, Texas. FCI Sand Operations LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-80481) on July 30, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. Judge Michelle V. Larson oversees the case. The Debtor is represented by Davor Rukavina, Esq. at Munsch Hardt Kopf & Harr, P.C. FRISCO BAKING: Hires Hahn Fife & Company as Accountants ------------------------------------------------------- Frisco Baking Company, Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Hahn Fife & Company, LLP to serve as financial advisor and accountant in its Chapter 11 case. Hahn Fife will provide these services: (a) assist with the preparation of monthly operating reports; (b) prepare cash flows and projections; (c) conduct a liquidation analysis; (d) assist in the formulation, preparation and confirmation of a Plan of Reorganization; (e) review financial documents and estate tax issues; and (f) perform any other reasonable duties necessary or appropriate. The firm's hourly rates range from $100 to $530, depending on the experience and expertise of the accountant or staff performing the work. Hahn Fife & Company, LLP is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Donald T. Fife Hahn Fife & Company, LLP 1055 E. Colorado Blvd., 5th Floor Pasadena, CA 91106 Telephone: (626) 792-0855 E-mail: dfife@hahnfife.com About Frisco Baking Company Established in 1941, Frisco Baking Company, Inc. specializes in San Francisco-style sourdough bread and a variety of baked goods such as French and Italian rolls, baguettes, and specialty loaves. The company offers wholesale services to restaurants and delis across Los Angeles and Orange counties while maintaining retail operations at its Los Angeles bakery. Frisco Baking Company filed a Chapter 11 petition (Bankr. C.D. Cal. Case No. 25-11395) on Feb. 24, 2025, listing between $1 million and $10 million in assets and between $10 million and $50 million in liabilities. Damon M. Perata, chief executive officer of Frisco Baking Company, signed the petition. Judge Neil W. Bason oversees the case. Jeffrey S. Shinbrot, Esq., at The Shinbrot Firm is the Debtor's bankruptcy counsel. Leaf Capital Funding, LLC, as lender, is represented by: Jennifer Witherell Crastz, Esq. Hemar, Rousso & Heald, LLP 15910 Ventura Blvd., 12th Floor Encino, CA 91436 Telephone: (818) 501-3800 Facsimile: (818) 501-2985 E-mail: jcrastz@hrhlaw.com FUTURE FINTECH: Jian Ke, FT Global Hold 7.15% Equity Stake ---------------------------------------------------------- Jian Ke and FT Global Capital Inc. disclosed in a Schedule 13G (Amendment No. 1) filed with the U.S. Securities and Exchange Commission that as of July 11, 2025, they beneficially own 247,000 shares of Future Fintech Group Inc.'s Common Stock, $0.001 par value per share, representing 7.15% of the 3,450,770 shares outstanding as of July 7, 2025, based on information received from the Company's transfer agent. The shares are held jointly and reflect a decrease following the sale of 93,000 shares in accordance with the Settlement and Forbearance Agreement with the Issuer dated June 17, 2025. This agreement includes a provision limiting beneficial ownership to no more than 9.99% of outstanding shares. FT Global Capital Inc. may be reached through: Jian Ke, President and CEO 1688 Meridian Avenue, Suite 700 Miami Beach, Florida 33139 A full-text copy of Jian Ke's SEC report is available at: https://tinyurl.com/36n3fb6n About Future FinTech Group New York, N.Y.-based Future FinTech Group Inc. is a holding company incorporated under the laws of the State of Florida. The Company historically engaged in the production and sale of fruit juice concentrates (including fruit purees and fruit juices) and fruit beverages (including fruit juice beverages and fruit cider beverages) in the PRC. Due to drastically increased production costs and tightened environmental laws in China, the Company transformed its business from fruit juice manufacturing and distribution to financial technology-related service businesses. The main business of the Company includes supply chain financing services and trading in China, asset management business in Hong Kong, and cross-border money transfer service in the UK. Orange, Calif.-based Fortune CPA, Inc., the Company's auditor since 2023, issued a "going concern" qualification in its report dated April 15, 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 losses from operations. Therefore, the Company has stated substantial doubt about its ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent upon its ability to successfully execute its new business strategy and eventually attain profitable operations. As of Dec. 31, 2024, the Company had $25.9 million in total assets, $13.3 million in total liabilities, and a total stockholders' equity of $12.6 million. GOLDEN TEMPLE: Seeks to Hire Dura Services LLC as Accountant ------------------------------------------------------------ Golden Temple Investment LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Wisconsin to hire Dura Services LLC as accountant. The firm's services include: a. preparing and filing Debtor's tax returns on an annual basis; b. preparing quarterly financial reports, to include balance sheet and profit and loss statements; and c. maintaining up to date books and records. The firm will bill reasonable fees for tax preparation and filing, preparation of quarterly financial reports, and maintaining books and records in the amount of $1,300.00 for each subsequent year, plus modest yearly increases of no more than 20 percent. Dura Services requests to be paid a flat fee in the amount of $900 in necessary and reasonable expenses incurred for the preparation of Debtor's financial reports, the preparation and filing of Debtor's 2024 tax returns, and maintaining books and records for the remainder of 2025. Albara Amro, accountant at Dura Services, assured the court that the firm does not hold and represent any interest adverse to the Debtor or the estate. The firm can be reached through: Albara Amro Dura Services LLC 425 Soledad St Suite 250 San Antonio, TX 78205 About Golden Temple Investment LLC Golden Temple Investment LLC is a limited liability company. Golden Temple Investment LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Wis. Case No. 25-23716) on June 2, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Rachel M. Blise handles the case. The Debtors are represented by Claire Ann Richman, Esq. at RICHMAN & RICHMAN LLC. GWG HOLDINGS: Bondholders Want Atty. Ousted in Judge Roman Scandal ------------------------------------------------------------------ James Nani of Bloomberg Law reports that the former GWG Holdings Inc. bondholders have asked for the removal of an attorney and the recusal of a judge from the company's bankruptcy case due to their connections to a judicial romance scandal. In a motion filed Monday, August 4, 2025, in the US Bankruptcy Court for the Southern District of Texas, the bondholders argued that Elizabeth Freeman should be removed as GWG's wind-down trustee for allegedly concealing her relationship with former Houston bankruptcy judge David R. Jones, who served as mediator in the case. They also urged Judge Marvin Isgur, who is overseeing the proceedings, to step aside. About GWG Holdings Headquartered in Dallas Texas, GWG Holdings, Inc. (NASDAQ: GWGH) conducts its life insurance secondary market business through a wholly owned subsidiary, GWG Life, LLC, and GWG Life's wholly owned subsidiaries. GWG Holdings Inc. and affiliates sought Chapter 11 bankruptcy protection (Bankr. S.D. Texas Lead Case No. 22-90032) on April 20, 2022. In the petition filed by Murray Holland, president and chief executive officer, GWG Holdings disclosed between $1 billion and $10 billion in both assets and liabilities. Judge Marvin Isgur oversees the cases. The Debtors tapped Mayer Brown, LLP and Jackson Walker, LLP, as bankruptcy counsels; Tran Singh, LLP as special conflicts counsel; FTI Consulting, Inc. as financial advisor; and PJT Partners, LP, as investment banker. Donlin Recano & Company is the Debtors' notice and claims agent. National Founders LP, a debtor-in-possession (DIP) lender, is represented by Michael Fishel, Esq., Matthew A. Clemente, Esq., and William E. Curtin, Esq., at Sidley Austin, LLP. The U.S. Trustee for Region 7 appointed an official committee to represent bondholders in the Debtors' cases. The committee tapped Akin Gump Strauss Hauer & Feld, LLP and Porter Hedges, LLP, as legal counsels; Piper Sandler & Co. as investment banker; and AlixPartners, LLP as financial advisor. The Debtors obtained confirmation of their Further Modified Second Amended Joint Chapter 11 Plan on June 20, 2023. HALL OF FAME: Resolves Rent Payment Default With CH Capital Advance ------------------------------------------------------------------- Hall of Fame Resort & Entertainment Co. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that HOF Village Retail I, LLC and HOF Village Retail II, LLC (together, the "Tenant"), wholly owned subsidiaries of the Company, received a notice of default from Twain GL XXXVI, LLC (the "Landlord") under that certain Ground Lease dated as of September 27, 2022 related to the Fan Engagement Zone. The Notice was additionally directed to the Company in its capacity as guarantor under that certain Guaranty dated as of September 27, 2022 related to the Lease. The Notice stated that the Tenant has failed to pay rent due under the Lease, including all or a portion of the April 1, 2025, installment, with a total amount allegedly due of $283,915.51 as of July 18, 2025. The Notice also claimed that the Company was in default under the Guaranty for failing to make such payments on behalf of the Tenant. The Notice stated that failure of the Tenant to pay the amounts demanded by July 23, 2025, entitled Landlord to exercise its rights and remedies under the Lease, including, without limitation, the termination of the lease agreement. Following receipt of the Notice, the Company received an advance from CH Capital Lending, LLC pursuant to that certain Note and Security Agreement dated June 18, 2025, as amended, and made payment in full of all amounts demanded on July 23, 2025, which the Company believes cures the defaults identified in the Notice. 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. HARBOR FREIGHT: S&P Affirms 'BB-' ICR, Off CreditWatch Negative --------------------------------------------------------------- S&P Global Ratings affirmed all its 'BB-' ratings on U.S.-based discount tool and equipment retailer Harbor Freight Tools USA Inc., which includes its issuer credit rating, and removed them from CreditWatch, where they were placed with negative implications on April 16, 2025. S&P said, "The stable outlook on Harbor Freight reflects our expectation that adjusted leverage will peak at 4.4x in fiscal 2026 due to margin pressures from elevated tariffs as the company continue to execute its mitigation plan. It also incorporates our forecast for reported free operating cash flow (FOCF) of about $400 in fiscal 2026. "We expect U.S.-based discount tool and equipment retailer Harbor Freight Tools USA Inc.'s profitability will weaken in fiscal 2026 (ending July 2026) because of elevated costs from tariffs, leading to adjusted leverage increasing to 4.4x, about a turn higher than in 2025. "We expect the company will have enough leverage metric cushion to execute its mitigation plan and manage the effect of elevated tariffs on its operating performance. "The affirmation of our ratings reflects our view that the company will manage the effects of tariffs on its cost structure over the next 12 months. We expect the additional tariffs on imports from China of 30%, albeit meaningfully lower compared to 145% in April 2025 (when we placed the ratings on CreditWatch with negative implications), will negatively affect the company's operating margins in fiscal 2026. However, Harbor Freight has acted to mitigate these challenges through supply chain diversification, offering optimization, and vendor negotiation. Our base-case projection also assumes additional tariffs on imports from Vietnam--a potential destination for the company--will increase to 20% compared to our previous assumption of 46%, which will partially offset the potential supply chain relocation benefits. We view tariff risk as more manageable going forward given the lower rate compared to its peak. In addition, we expect the company will meaningfully decrease its exposure to China over the next two years from more than 60% in fiscal 2025." Harbor Freight's S&P Global Ratings-adjusted EBITDA has consistently increased over the last two years as the company expanded its business operations and improved profitability, which translated to S&P Global Ratings-adjusted EBITDA margin of 16.7% in the third quarter (ended on April 30, 2025) on a last-12-month basis. S&P said, "We forecast S&P Global Ratings-adjusted EBITDA margin will decline to 11.7% in fiscal 2026 as the company absorbs most of the cost increases, partially offset by targeted price increases and cost-cutting initiatives. We expect a reduction in the new store openings will also contribute to costs savings as it improves operating leverage. We forecast margins will improve to 12% in fiscal 2027 as the company continues to execute its mitigation plan as well as pass along additional costs while maintaining price gap from its main competitors." S&P said, "We believe Harbor Freight's value offerings will continue to resonate with consumers. In our view, the company's value-oriented business model is resilient during economic downturns due to trade-down effects as consumers look for value. Revenue increased by 6.7% in the third quarter compared to 8.1% in the same prior-year period, supported by new store openings and comparable sales of 2.4%. Harbor Freight's good in-stock position, new products, and advertising efforts contributed to an increase in its customer base and market share. In addition, the company has expanded its offerings to professionals over the years, reaching about 50% of its customer base, with the goal of increasing customer engagement and sales recurrency. In our view, the company's ability to maintain its price gap strategy while investing in product quality will strengthen its competitive position." Harbor Freight has reported strong revenue momentum and outperformed its competitors in the last three years. In fiscal 2026, S&P forecasts revenue growth will decelerate to about 4% as the company reduces its store openings. In fiscal 2027, it expects revenue will decline to 2% due to a further decrease in store openings. S&P said, "We expect Harbor Freight will preserve its liquidity position by reducing its investments in new store openings. Reported FOCF on a year-to-date basis declined to $234 million in the third quarter compared to $652 million in the prior year, largely due to inventory pull forward to optimize supply chain costs. The company has rapidly expanded its business operations by opening new stores near its main competitors, which has resulted in market share gains over the past years. Following recent supply chain stresses caused by elevated tariffs, the company has decreased its new openings to 83 in the last-12 months compared to a three-year average of about 115 new stores per year. We anticipate the company will further decelerate its new stores in fiscal 2026, which will partially offset the free cash flow decline due to compressed operating margins. We forecast reported FOCF will decline to about $400 million in fiscal 2026, improving in 2027 as the company continues to adjust its supply chain and optimize its promotion and product offerings." S&P Global Ratings-adjusted leverage declined to 3.4x in the third quarter from 4.2x in the prior year due to higher S&P Global Ratings-adjusted EBITDA and lower outstanding debt, creating a credit cushion under the company's leverage metric. The company repaid $230 million of the outstanding amount under its $1.6 billion asset-based lending (ABL) facility year over year. S&P expects margin compression will cause S&P Global Ratings-adjusted leverage to peak at 4.4x in fiscal 2026, improving to 4.1x in fiscal 2027 as operating performance improves. The stable outlook on Harbor Freight reflects S&P's expectation that adjusted leverage will peak at 4.4x in fiscal 2026 due to margin pressures from elevated tariffs as the company continue to execute its mitigation plan. It also incorporates its forecast for reported FOCF of about $400 in fiscal 2026. S&P could downgrade the company if it forecasts S&P Global Ratings-adjusted leverage will remain above 5x. This could occur if: -- The company is unable to mitigate higher tariffs, leading to further profitability deterioration; -- Operating performance falls below S&P's expectations because of weaker consumer demand, or market share loss; or -- The company returns to a more aggressive financial policy. S&P could upgrade the company if it demonstrates a track record of managing leverage under 4x. This could occur if the company: -- Successfully mitigates higher tariff costs, which includes making adjustments to its supply chain; -- Continues to grow its market share by expanding its operations including revenue and EBITDA levels; or -- Adopts a more conservative financial policy. HEALTHY EXTRACTS: Completes Acquisition of Gummy USA ---------------------------------------------------- Healthy Extracts Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that it entered into a Membership Interest Purchase Agreement (the "MIPA") with Gummy USA LLC and its sole-member, Donald Swanson, pursuant to which the Company acquired 100% of the outstanding membership interests of GUSA, which is now the Company's wholly-owned subsidiary. As consideration for the purchase, the Company issued 13,075,920 shares of common stock which represents 77.5% of its issued and outstanding common stock after the transaction, to Mr. Swanson. In addition, Mr. Swanson was granted anti-dilution rights to maintain that same ownership percentage in the event of the exercise of any of the Company's 154,306 outstanding options and warrants. In connection with, and as a material term of, the transaction, effective on July 19, 2025, Donald Swanson was appointed to the Board of Directors as the Company's fourth director, Chairman and as President. Donald Swanson, age 67, was appointed as a member of our Board of Directors, Chairman and as President on July 19, 2025. Mr. Swanson was the founder and has been the CEO of Gummy USA LLC since its inception in 2021. Mr. Swanson brings over eight years of deep experience in pharmaceutical-grade manufacturing and gummy innovation. He has successfully designed and implemented state-of-the-art production facilities across multiple international locations, and his proprietary processes deliver unmatched precision. Under his leadership, Gummy USA has not only secured significant purchase orders but also positioned itself to set a new industry benchmark for quality, regulatory compliance, and supply chain efficiency. His expertise spans automated controls, advanced fluid dynamics, and blockchain-enabled product authentication, solving critical production inefficiencies and protecting brand integrity. There are no family relationships between any of our officers or directors. Other than the transactions in connection with the acquisition of Gummy USA LLC, there are not transactions with related persons. Kevin "Duke" Pitts, who was the Company's President prior to the transaction, was appointed as Chief Executive Officer. Further in connection with the transaction, Robert Madden, Secretary and Chief Financial Officer, was appointed as the Manager of GUSA. About Healthy Extracts Headquartered in Henderson, Nev., Healthy Extracts Inc. -- www.healthyextractsinc.com -- is a platform for acquiring, developing, patenting, marketing, and distributing plant-based nutraceuticals. The Company's proprietary and patented products target select high-growth categories within the multibillion-dollar nutraceuticals market, such as heart, brain, and immune health. As of Dec. 31, 2024, the Company had $2,377,973 in total assets, $1,967,596 in total liabilities, and a total stockholders' equity of $410,377. Henderson, Nev.-based Bush & Associates CPA LLC, the Company's auditor since 2024, 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 fiscal year ended December 31, 2024, citing that the Company's operating losses raise substantial doubt about its ability to continue as a going concern. HUNTINGTON GLEN: Employs A.Y. Strauss LLC as Legal Counsel ---------------------------------------------------------- Huntington Glen Swng TIC 1 LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire A.Y. Strauss LLC to serve as legal counsel in its Chapter 11 case. A.Y. Strauss will provide these services: (a) provide the Debtor with advice and prepare all necessary documents regarding debt restructuring, bankruptcy, and asset dispositions; (b) take all necessary actions to protect and preserve the Debtor's estate during the Chapter 11 case; (c) prepare motions, applications, answers, orders, reports, and papers related to the administration of the case; (d) counsel the Debtor regarding its rights and obligations as Debtor-in-possession; (e) appear in court to protect the Debtor's interests; and (f) perform all other legal services necessary in these proceedings. The firm's hourly billing rates are: $500 to $650 for partners $475 for counsel $425 to $450 for associates, and $200 for paralegals The firm has agreed to cap its attorney hourly rate at $550, plus costs and expenses. A.Y. Strauss received a $25,000 retainer in addition to the filing fee prior to the bankruptcy filing. A.Y. Strauss LLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Eric H. Horn, Esq. Eva M. Thomas, Esq. A.Y. STRAUSS LLC 290 West Mount Pleasant Avenue, Suite 3260 Livingston, NJ 07039 Telephone: (973) 287-5006 Facsimile: (973) 533-0127 About Huntington Glen Swng TIC 1 LLC Huntington Glen Swng TIC 1 LLC and affiliate own the property at 12023 Bissonnet Street, Houston, Texas 77099. Huntington Glen Swng TIC 1 LLC and affiliate sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-42991) on June 25, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge Hon. Elizabeth S. Stong handles the case. The Debtors are represented by Eric H. Horn, Esq. at A.Y. STRAUSS LLC. HYPERSCALE DATA: Issues 2.95M Class A Common Shares via Conversions ------------------------------------------------------------------- Hyperscale Data, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that between July 16 and July 22, 2025, it issued an aggregate of 620,000 shares of Class A Common Stock upon conversion of $527,511 of an outstanding convertible note. The Class A Common Stock were offered and sold in reliance upon an exemption from the registration requirements under Section 3(a)(9) under the Securities Act of 1933, as amended. Between July 17 and July 22, 2025, the Company issued an aggregate of 2,325,000 shares of Class A Common Stock upon conversion of approximately 1,735.88 shares of Series B Convertible Preferred Stock. Between the same dates, the Company issued an aggregate of 2,874 shares of Class A Common Stock upon conversion of an equal number of shares of Class B Common Stock. The shares of Class A Common Stock were issued in reliance upon exemption from the registration requirements under Section 4(a)(2) under the Securities Act. As of July 23, 2025, the Company had 22,262,757 shares of Class A Common Stock outstanding. About Hyperscale Data Headquartered in Las Vegas, NV, Hyperscale Data, Inc., formerly known as Ault Alliance, Inc., is transitioning from a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact to becoming solely an owner and operator of data centers to support high performance computing services. Through its wholly and majority-owned subsidiaries and strategic investments, Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries. It also provides, through its wholly owned subsidiary, Ault Capital Group, Inc., mission-critical products that support a diverse range of industries, including an artificial intelligence software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, Hyperscale Data is actively engaged in private credit and structured finance through a licensed lending subsidiary. New York, New York-based Marcum LLP, the Company's auditor since 2016, issued a "going concern" qualification in its report dated Apr. 15, 2025, attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, citing that the Company has a significant working capital deficiency, has incurred significant losses and needs to raise additional funds to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. INCAR GROUP: Seeks to Hire Carlos Alberto Ruiz as Legal Counsel --------------------------------------------------------------- INCAR Group LLC seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to employ LCDO. Carlos Alberto Ruiz LLC as counsel. The firm will provide these services: (a) advise the Debtor on its rights, obligations, and duties under the bankruptcy code; (b) prepare and file all necessary petitions, pleadings, schedules, and motions; (c) represent the Debtor in proceedings before the Bankruptcy Court; (d) negotiate with creditors and interested parties toward a plan of reorganization; (e) assist in formulating, proposing, and confirming a plan; and (f) provide such other legal services as may be required for the proper administration of this estate. Carlos Ruiz Rodriguez, Esq., the primary attorney in this representation, will be billed at his hourly rate of $250 plus out-of-pocket expenses. The firm received a retainer in the amount of $9,000 from the Debtor. Mr. Rodriguez 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: Carlos A. Ruiz Rodriguiez LCDO. Carlos Alberto Ruiz, LLC P.O. Box 1298 Caguas, PR 00726 Telephone: (787) 286-9775 Facsimile: (787) 747-2174 Email: carlosalbertoruizquiebras@gmail.com About INCAR Group LLC INCAR Group LLC is a construction contractor based in Cidra, Puerto Rico. INCAR Group LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 25-03067) on July 1, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $500,000 and $1 million. The Debtor is represented by Carlos A. Ruiz Rodriguez, Esq. IR4C INC: Seeks Approval to Tap Saunders Real Estate as Broker -------------------------------------------------------------- IR4C, Inc. seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to employ Saunders Real Estate LLC as real estate broker. The firm will render these services: (a) market the real estate; (b) negotiate with prospective buyers and solicit offers to purchase; and (c) contract to closing services. The firm will be compensated on a contingency basis in the amount of 6 percent of the property's purchase price. Gary Ralstron, a real estate agent at Saunders Real Estate, 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: Gary Ralstron Saunders Real Estate 1723 Bartow Rd. Lakeland, FL 33801 Telephone: (877) 518-5263 Email: info@saudnersrealestate.com About IR4C Inc. IR4C, Inc., a company in Lakeland, Fla., is the owner and operator of a mobile application fitness program using augmented reality to create virtual "races." It conducts business under the name Yes.Fit and Make Yes Happen. IR4C filed Chapter 11 bankruptcy petition (Bankr. M.D. Fla. Case No. 24-05458) on Sept. 13, 2024. In its petition, IR4C listed total assets of $4,280,839 and total liabilities of $7,922,422. IR4C president Kevin D. Transue signed the petition. Judge Roberta A. Colton oversees the case. Samantha L. Dammer, Esq., at Bleakley Bavol Denman & Grace is the Debtor's legal counsel. JP MORGAN 2025-CES3: S&P Assigns B (sf) Rating on Cl. B-2 Notes --------------------------------------------------------------- S&P Global Ratings assigned its ratings to J.P. Morgan Mortgage Trust 2025-CES3's mortgage-backed notes. The note issuance is an RMBS securitization backed by closed-end, second-lien, fixed-rate, fully amortizing residential mortgage loans to both prime and nonprime borrowers. The loans are secured by single-family residential properties, townhomes, planned-unit developments, condominiums, two- to four-family residential properties, and condotels. The pool has 4,861 loans and comprise qualified mortgage (QM)/non-higher-priced mortgage loans (HPML) (safe harbor), QM rebuttable presumption, non-QM/compliant, and ability-to-repay-exempt loans. The ratings reflect S&P's view of: -- The pool's collateral composition; -- The transaction's credit enhancement, associated structural mechanics, representation and warranty framework, and geographic concentration; -- The mortgage aggregator and reviewed originators; and -- S&P's economic outlook, which considers its current projections for U.S. economic growth, unemployment rates, and interest rates, as well as its view of housing fundamentals, and is updated, if necessary, when these projections change materially. Ratings Assigned J.P. Morgan Mortgage Trust 2025-CES3(i) Class A-1A, $339,593,000: AAA (sf) Class A-1B, $19,951,000: AAA (sf) Class A-1X, $359,544,000: AAA (sf) Class A-1(ii), $359,544,000: AAA (sf) Class A-2, $18,890,000: AA- (sf) Class A-3, $15,282,000: A- (sf) Class M-1, $12,310,000: BBB- (sf) Class B-1, $7,853,000: BB- (sf) Class B-2, $4,882,000: B (sf) Class B-3, $5,730,895: NR Class A-IO-S, notional(iii): NR Class XS, notional(iv): NR Class PT, N/A: NR Class A-R, N/A(v): NR (i)The ratings address the ultimate payment of interest and principal; they do not address the payment of the cap carryover amounts. (ii)Certain proportions of the class A-1X, A-1A, and A-1B notes are exchangeable for the class A-1 notes and vice versa. (iii)The notional amount equals the aggregate stated principal balance of the mortgage loans serviced by NewRez LLC doing business as Shellpoint Mortgage Servicing. (iv)The notional amount equals the aggregate unpaid principal balance of loans in the pool as of the cutoff date. (v)The class A-R notes will not have a class principal amount and are the class of notes representing the residual interest in the issuer. The class A-R notes are not expected to receive payments. NR--Not rated. N/A--Not applicable. JPK NEWCO: Unsecureds to Get Share of Income for 60 Months ---------------------------------------------------------- JPK NewCo, LLC, filed with the U.S. Bankruptcy Court for the District of Columbia a Subchapter V Plan of Reorganization dated July 28, 2025. The Debtor has classified all Claims and Interests in accordance with Sections 1122, 1123 and 1190 of the Bankruptcy Code. Class 1 consists of Allowed General Unsecured Claims. In full and complete satisfaction, discharge and release of the Class 1 Claims, the Debtor shall pay the Holders of Allowed Class 1 Claims, without interest, their pro-rata shares of all available projected disposable income, paid semi-annually beginning sixty days after the Effective Date and continuing during the term of this Plan. Pending resolution of the Note Litigation, payments to Holders of Allowed Class 1 Claims shall total no less than $5,000.00 each semi-annual period and will be paid by drawing on the DIP Financing if other funds are not then available. Class 1 General Unsecured Claims that are undisputed total $55,172.43 as of the Petition Date. In addition, there are two scheduled general unsecured claims that have not been assigned a value because they are disputed and unliquidated. Holders of Class 1 General Unsecured Claims are expected to receive one hundred percent of the principal amount of their Allowed Claims with interest at the contract rate, but only if the Debtor is successful in the Note Litigation. Class 1 is impaired and therefore the Holders of Class 1 Claims are entitled to vote to accept or reject the Plan. Class 2 consists of Equity Interests. On the Effective Date, the legal, equitable and contractual rights of the Debtor in its assets and properties shall be retained unaltered. Class 2 is Unimpaired. As a result, pursuant to Section 1126(f) of the Bankruptcy Code, the holders of the equity interests in the Debtor are conclusively deemed to have accepted the Plan and, therefore, are not entitled to vote to accept or reject the Plan. The sources and value of funds and assets for distribution is as follows: * The collection of the amounts due under the Energy Morocco Note. * The collection of the amounts due under the Notes which shall be pursued through the Note Litigation and, to the extent necessary, removal of litigation in the District of Columbia Superior Court that has been stayed by operation of this bankruptcy case and Order of the Superior Court. Specifically, the Debtor will pursue collection upon the notes through one or more adversary proceedings and, simultaneously, work with related parties in interest to defend any attacks upon the notes or upon the ability of the Debtor to foreclosure. * DIP Financing. WCP shall make advances to the Debtor from time to time with existing balances not to exceed $100,000.00 at any time. The amounts advanced shall accrue interest at the rate of Prime plus 3% per annum and shall be secured by a first-priority lien on and against all of the Debtor's assets. The liens and security interests granted to WCP under this Plan shall become and are duly perfected without the necessity for the execution, filing or recording of financing statements, security agreements and other documents which might otherwise be required pursuant to applicable non-bankruptcy law for the creation or perfection of such liens and security interests. Except as otherwise set forth in the Plan, the term of the Plan begins on the Effective Date and ends on the sixtieth month subsequent to that date. The Debtor's regular disposable income is not calculable at this time because, it substantially depends upon the results of the Note Litigation. The sources of funds are the collection of the amounts due under the Energy Morocco Note and the Notes, and will be supplemented by DIP Financing to the extent necessary to make the required $5,000.00 in total semi-annual payments to Holders of Allowed Class 1 Claims. A full-text copy of the Subchapter V Plan dated July 28, 2025 is available at https://urlcurt.com/u?l=hvwvtO from PacerMonitor.com at no charge. The Debtor's Counsel: Jeffrey M. Orenstein, Esq. WOLFF & ORENSTEIN LLC 15245 Shady Grove Road Suite 465 - North Rockville MD 20850-4231 Tel: 301-250-7232 Email: jorenstein@wolawgroup.com About JPK Newco LLC JPK Newco LLC is a real estate investment and lending company that holds junior liens on properties in Washington, D.C. Its assets include subordinate interests in real estate valued at over $3 million and a minority stake in an energy company. The firm operates in the private real estate financing sector, specializing in secured lending and investment holdings. JPK Newco LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.C. Case No. 25-00200) on May 27, 2025. In its petition, the Debtor reports total assets of $3,111,937 and total liabilities of $55,172. Bankruptcy Judge Elizabeth L. Gunn handles the case. The Debtors are represented by Jeffrey M. Orenstein, Esq. at WOLFF & ORENSTEIN LLC. KLIMA CONTROL: Seeks to Hire Accounting Litigation as Accountant ---------------------------------------------------------------- Klima Control Air Conditioning & Heating LLC and Klima Control Air Conditioning Supply, Inc. seek approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Accounting Litigation Turnaround Advisory Collaborative PLLC as accountant. The firm will provide these services: (a) assist the Debtors with performing their duties pursuant to the U.S. Trustee's Operating Guidelines and Reporting Requirements and the rules of the Court; (b) assist with the Debtors' projections for their Chapter 11 plan of reorganization; and (c) assist the Debtors in the preparation of monthly reports. The firm will be paid at these hourly rates: Partners $450 Associates $275 Paraprofessionals $115 Jamie Angarita, a certified public accountant at Accounting Litigation Turnaround Advisory Collaborative, 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: Jamie Angerita, CPA Accounting Litigation Turnaround Advisory Collaborative PLLC 3525 W. 26th Ave. Denver, CO 80211 About Klima Control Air Conditioning & Heating Klima Control Air Conditioning & Heating, LLC is an air conditioning and heating services provider operating as Super Cool in Florida. It specializes in HVAC installation, maintenance, and repair services with locations in Pompano Beach and West Palm Beach. Klima Control Air Conditioning & Heating LLC and Klima Control Air Conditioning Supply, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-17717) on July 7, 2025. In the petition, Klima Control Air Conditioning & Heating reported between $1 million and $10 million in assets and liabilities. Judge Scott M. Grossman handles the cases. The Debtors are represented by Shirley Palumbo, Esq. LIGHT OF HOPE: Seeks Approval to Tap Agentis PLLC as Counsel ------------------------------------------------------------ Light of Hope Behavior Therapy Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to hire Agentis PLLC to serve as general bankruptcy counsel. The firm will provide these services: (a) advise the Debtor with respect to its powers and duties as debtor-in-possession and the continued management of its affairs; (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 motions, pleadings, orders, applications, adversary proceedings, and other legal documents necessary in the administration of the case; (d) protect the interests of the Debtor and the estate in all matters pending before the Court; and (e) represent the Debtor in negotiations with its creditors in the preparation of a plan. Agentis PLLC shall receive hourly rates ranging from $380 to $745 for attorneys and from $130 to $255 for paralegals. Partner Jacqueline Calderin's current hourly rate is $645. Agentis PLLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Jacqueline Calderín, Esq. AGENTIS PLLC 45 Almeria Avenue Coral Gables, FL 33134 Telephone: (305) 722-2002 E-mail: jc@agentislaw.com About Light of Hope Behavior Therapy Light of Hope Behavior Therapy Inc., doing business as Light of Hope Medical Center, filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-18397) on July 23, 2025, with up to $50,000 in assets and liabilities. Judge Robert A. Mark presides over the case. Jacqueline Calderin, Esq., represents the Debtor as legal counsel. LULAV PROPERTIES: Court Stays Rodriguez Case Due to Bankruptcy -------------------------------------------------------------- Judge Jennifer H. Rearden of the United States District Court for the Southern District of New York stayed the case captioned as GUERE RODRIGUEZ, Plaintiff, -v.- LULAV PROPERTIES LLC et al., Defendants, Case No. 25-cv-03776-JHR (S.D.N.Y.) as to Defendant Lulav Properties LLC, pursuant to 11 U.S.C. Sec. 362, pending the outcome of the bankruptcy petition. . By Oct. 1, 2025 and every 90 days thereafter, the parties shall file a joint letter regarding the status of the bankruptcy proceeding. The letter should state whether the bankruptcy case is still pending and whether the action as to Lulav should remain stayed, be dismissed, or be restored to the active calendar. By Aug. 8, 2025, Plaintiff and all of the Defendants shall file letters stating their respective positions as to whether the Court should stay the entire case or only the case against Lulav. Before doing so, the parties shall meet and confer about the possibility of consenting to a stay of the case in its entirety regardless of whether the automatic stay is triggered for the non-debtor Defendants. A copy of the Court's Order is available at http://urlcurt.com/u?l=STxaOyfrom PacerMonitor.com. About Lulav Properties LLC Lulav Properties LLC is a single asset real estate company with property located in the Bronx, New York. Lulav Properties LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-43397) on July 17, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Louis A. Scarcella handles the case. The Debtor is represented by Kevin J. Nash, Esq. at Goldberg Weprin Finkel Goldstein LLP. MALLINCKRODT PLC: S&P Affirms 'BB-' ICR on Merger With Endo ----------------------------------------------------------- S&P Global Ratings affirmed its 'BB-' issuer credit rating on Mallinckrodt PLC. S&P expects to withdraw its ratings on Mallinckrodt's existing debt in the coming days upon its repayment. The merger between Mallinckrodt PLC and Endo Inc. recently closed, resulting in a larger and more diversified pharmaceutical company with pro forma gross leverage of about 3.5x. However, the company intends to separate Par Health, a business consisting of the company's generics, active pharmaceutical ingredients (API), and sterile injectable businesses over the next few months, and we expect the remaining branded drug portfolio will be relatively concentrated among its top four products. Mallinckrodt's new and existing branded assets (BrandCo) will secure its remaining outstanding debt, which is issued at Endo Finance Holding Co. and consists of Endo's existing $400 million super-priority revolving credit facility, $1.5 billion term loan, and $1 billion senior secured notes. Par Health has secured new financing which consists of a $1.2 billion term loan (not rated) and $150 million revolving credit facility (not rated). This debt will be secured solely by the Par Health assets. S&P said, "We raised our ratings on BrandCo's senior secured term loan and senior secured notes to 'BB-' from 'B+', reflecting the higher parent rating at Mallinckrodt, than the more aggressively leveraged Endo. The recover ratings remain '3'. We also raised our ratings on BrandCo's super priority revolver two notches to 'BBB-' from 'BB' and revised its recovery rating to '1+' from '1'. This reflects both the higher issuer credit rating on the new parent and better recovery prospects due to the addition of Mallinckrodt's branded assets as collateral, more than offsetting the lost value from Endo's generics and sterile injectables. "The stable outlook reflects our expectation that Mallinckrodt's revenue will grow modestly over the next 12 months and it will maintain S&P Global Ratings-adjusted debt to EBITDA between 2.5x and 3.5x. "Although the merger with Endo moderately improves Mallinckrodt's business strength, given intentions to divest the generics business, we still view Mallinckrodt's business risk as broadly comparable to its pre-merger business. With the additional scale and diversification, including Endo's top product, Xiaflex, and Endo's sterile injectables business, Mallinckrodt's business improves with the merger. However, the company intends to quickly spin-off Par Health, a new operating segment containing both companies' generics businesses, Mallinckrodt's API business, and Endo's sterile injectables business, which we estimate will revert the company's scale back to about $2 billion in revenues and increase the company's product concentration, given the top three products will represent about 62% of revenue. "Although S&P's ratings incorporate our expectation that Mallinckrodt's long-term strategy is focused on operating exclusively within branded pharmaceutical and hospital products (i.e. INOmax, a nitric oxide delivery device), given uncertainty as to the timing and use of proceeds from the planned separation of Par Health, our projections reflect the full combined businesses and the expected capital structure at the time of the transaction close. "We view the planned divestiture as a slight credit negative, given the loss of the scale and diversity. However, the better growth profile and higher EBITDA margins (about 1000 basis points above the combined business) of the remaining branded business partially offset those losses. Overall, the Par Health business has relatively stable revenues and EBITDA, good free cash flow, and annual price erosion that is favorable relative to peers, supporting the rating. While the generics industry regularly faces material headwinds through price erosion and increased competition, Par Health operates in some niche segments that are more defensible than the broader industry. We expect Par Health will continue to grow in 2025, but expect market forces to gradually erode their position, particularly within controlled substances markets. More specifically, Mallinckrodt's generics business has benefitted from reduced competition in generic opioids, supply shortages of ADHD medications, and the loss of exclusivity of Takeda's Vyvanse (lisdexamfetamine), and expansion in Endo's sterile injectables business, following recent declines, has been a key driver of Endo's growth strategy. "We expect Mallinckrodt's branded products will sustain solid revenue growth over the next several years. The company's top two products, Xiaflex and Acthar Gel, each contribute about 13% of revenue (24%, and 25% of BrandCo, respectively) and we expect them to continue to grow over the next few years, generating strong free cash flow." Branded competition to Acthar from ANI Pharmaceuticals' Purified Cortrophin Gel beginning in 2022 has contributed to growth in the therapeutic class rather than meaningfully reducing Acthar revenues, and the launch of Mallinckrodt's SelfJect has allowed the company to slow its market share erosion. S&P expects the Acthar revenues will remain relatively stable over the next several years, but see potential for longer-term market disruption from the introduction of synthetic ACTH products in the U.S. S&P said, "We believe Xiaflex will grow primarily through increased awareness and label expansion. Although Xiaflex could face competition as early as 2029, we expect it will have exclusivity into the mid-2030s and it could maintain exclusivity beyond its patent life given its complex formulation and limited market size." Terlivaz is a small molecule orphan drug approved in September 2022 with revenues of about $24 million in 2024 and peak revenue potential estimated of $200 million to $300 million. S&P said, "We expect growth will come from increased commercialization efforts regarding awareness and reimbursement. However, we expect Terlivaz's growth will be relatively short lived as generic competition should enter in 2029 and erode the preponderance of its market share." S&P said, "We expect INOmax to experience material revenue declines on the heels of competition. We expect the company's third-largest product, a nitric oxide delivery device used primarily for newborns with hypoxic respiratory failure, to continue experiencing double-digit percentage revenue declines in the face of competition from Praxair, Air Gas, and others. We expect INOmax revenues will stabilize at about $200 million annually within the next few years due to the recent launch of its INOmax Evolve delivery system, a system with increased functionality, a more user-friendly interface, and improved portability." The absence of additional assets in the company's branded product pipeline represents a key weakness and credit risk. Both Mallinckrodt and Endo have had histories of acquiring key assets, notably acquiring Acthar and Xiaflex in 2014 and 2015, respectively. However, recent opioid-related bankruptcies have limited the companies' financial flexibility and resulted in divestitures rather than acquisitions. S&P said, "Absent a pipeline of new products under development, we view acquisitions as essential to the long-term viability of the company. Moreover, we believe below-average level of R&D inflates EBITDA and EBITDA margins relative to peers, as R&D is expensed under GAAP while M&A is not." While Mallinckrodt may experience less pressure than most pharmaceutical companies due to the long lives of its top products, market disruptions or emerging substitutes over time can accelerate revenue declines. Moreover, absent other assets, S&P believes revenues will likely decline in 2029-2030 on the loss of exclusivity of Terlivaz. S&P said, "While pricing is more favorable in the U.S., our view the company's geographic concentration (97% of revenues, 99% BrandCo) is negative. Xiaflex and Acthar are able to benefit from a favorable pricing environment in the U.S., and as these products are marketed exclusively in the U.S., they are not exposed the potential risk of a most-favored nation-based pricing scheme recently proposed by the Trump administration. We believe Acthar falls under the radar of recent drug price reform initiatives, including the Inflation Reduction Act, but note the company (and previous owner Questcor) have received scrutiny for past pricing actions. We believe pricing pressure on these products has softened materially, and the presence of another branded competitor in the therapeutic class further reduces the likelihood of sudden pricing shocks." That said, drug price reform in the U.S. remains a hot topic among lawmakers, given the significantly higher, premium prices commensurate with other patent-protect pharmaceutical products. Acthar's competitive position benefits from changes to the FDA's drug approval guidelines since its initial approval in 1952 that make genericization or bioequivalence prohibitively expensive to demonstrate. Although synthetic ACTH products are only FDA approved as diagnostic agents, a drug candidate has received an orphan drug designation and has begun Phase 3 trials for primary membranous nephropathy, demonstrating potential for synthetic ACTH drugs to gain regulatory approval for therapeutic uses, and potentially disrupt the broader market. A low-probability, high-impact risk to the company could come from a ban on direct-to-consumer marketing. Xiaflex requires significant advertising to replace its customers as patients receive a maximum of eight injections for Peyronie's Disease and three injections per cord/joint for Dupuytren's Contracture. Label expansion into plantar fibromatosis and hammer toe could significantly broaden Xiaflex's patient populations and reduce the need for direct-to-consumer marketing by focusing efforts on podiatrists. Past attempts to diversify Xiaflex have proved challenging as it ceased European and Australian sales for commercial reasons, its expansion into the aesthetic market through Qwo was short-lived, and disappointing Phase 2 readouts for plantar fasciitis have led the company to review the project. S&P said, "Our ratings are constrained by uncertainty regarding the separation of Par Health and management's growth strategy and financial policy. We generally expect Mallinckrodt will maintain S&P Global Ratings-adjusted (gross) leverage in the 2.5x-3.5x range and do not expect to change our 'BB-' issuer credit rating once it divests Par Health. However, the size of the transaction, comprising about 50% of revenues and 33% of EBITDA, and the future deployment of the roughly $1 billion in cash will materially influence Mallinckrodt's capital structure and liquidity position. Furthermore, while we expect the company will seek to expand its branded product portfolio, we do not yet have a clear understanding of the company's financial policies, including capital allocation priorities and leverage targets and tolerances. We expect to gain additional clarity on the company's strategy and financial policy in the coming months as the new board and management team seek a public listing on the New York Stock Exchange and the separation of Par Health. "The stable outlook reflects our expectation that Mallinckrodt will see relatively modest revenue growth over the next 12 months and maintain S&P Global Ratings-adjusted debt to EBITDA between 2.5x and 3.5x. "We could lower our rating if we expect Mallinckrodt's business position to deteriorate or if the company pursues debt-funded acquisitions that increase its S&P Global Ratings-adusted debt to EBITDA to above 3.5x. This could occur through larger-than-expected acquisitions, greater-than-expected declines in its INOmax franchise, market share erosion for Acthar Gel, or competition for Xifaxan. "Assuming leverage remains below 3.5x, we do not expect the divestiture of Par Health to lower our ratings on Mallinckrodt. "While unlikely over the next 12 months, we could raise our rating on Mallinckrodt if we anticipate it will sustain S&P Global Ratings-adjusted debt to EBITDA of below 2.5x, commit to a leverage target of less than 3x, and sustain modest growth in its product portfolio." MARELLI AUTOMOTIVE: Committee Taps FTI as Financial Advisor ----------------------------------------------------------- The Official Committee of Unsecured Creditors of Marelli Automotive Lighting USA LLC and its affiliates seeks approval from the U.S. Bankruptcy Court for the District of Delaware to appoint FTI Consulting, Inc. as its financial advisor. FTI will provide these services: (a) assist in the review of financial disclosures; (b) evaluate proposed DIP financing, asset sales, employee compensation programs, and the Debtors' cost-saving measures; (c) assess liquidity, cash flow, and operating results; (d) analyze tax issues, claims reconciliation, and proposed plans of reorganization; (e) attend meetings with stakeholders and support the Committee in its legal and financial strategy; and (f) render other business consulting services as requested by the Committee or its counsel. FTI professionals will bill hourly at these customary rates: -- Senior Managing Directors: $1,185 to $1,525 -- Directors / Senior Directors / Managing Directors: $700 to $1,155 -- Consultants / Senior Consultants: $485 to $820 -- Administrative / Paraprofessionals: $190 to $385 FTI also seeks to use an independent contractor, Shota Kubo, at an hourly rate of $520, with no markup on his services. FTI Consulting is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: FTI CONSULTING, INC. 1166 Avenue of the Americas, 15th Floor New York, NY 10036 Telephone: (212) 841-9330 Facsimile: (212) 841-9331 Website: www.fticonsulting.com About Marelli Automotive Lighting USA LLC Marelli Automotive Lighting USA LLC is a global automotive parts supplier based in Saitama, Japan. The Company designs and manufactures advanced technologies for leading automakers, including lighting systems, electronic components, software solutions, and interior products. Operating in 24 countries with a workforce of over 46,000, Marelli also collaborates with motorsports teams and industry partners on high-performance component development. Marelli Automotive Lighting USA LLC and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-11034) on June 11. 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 billion and $10 billion each. Honorable Bankruptcy Judge Craig T. Goldblatt handles the case. The Debtors are represented by Joshua A. Sussberg, P.C., Nicholas M. Adzima, Esq., and Evan Swager, Esq. at KIRKLAND & ELLIS LLP and KIRKLAND & ELLIS INTERNATIONAL LLP, and Ross M. Kwasteniet, P.C. and Spencer A. Winters, P.C. The Debtors' Bankruptcy Co-counsel are Laura Davis Jones, Esq., Timothy P. Cairns, Esq., and Edward A. Corma, Esq. at PACHULSKI STANG ZIEHL & JONES LLP. ALVAREZ & MARSAL NORTH AMERICA, LLC is the Debtors' Restructuring Advisor. PJT PARTNERS INC. is the Debtors' Investment Banker. KURTZMAN CARSON CONSULTANTS, LLC, dba VERITA GLOBAL, is the Debtors' Notice & Claims Agent. MARELLI AUTOMOTIVE: Committee Taps Morris James as Co-Counsel ------------------------------------------------------------- The Official Committee of Unsecured Creditors of Marelli Automotive Lighting USA LLC and its affiliates seeks approval from the U.S. Bankruptcy Court for the District of Delaware to retain Morris James LLP as co-counsel. Morris James will provide these services: (a) provide legal advice and assistance to the Committee in its consultation with the Debtors regarding the administration of the reorganization; (b) review and analyze all applications, motions, orders, statements of operations, and schedules filed with the Court by the Debtors or third parties, advise the Committee, and take appropriate action; (c) prepare necessary applications, motions, responses, answers, orders, reports, and other legal documents on behalf of the Committee; (d) represent the Committee at hearings and communicate with the Committee regarding the issues raised and the decisions of the Court; and (e) perform other legal services as needed, including advising on Delaware law, attending Court proceedings, and handling conflict matters in coordination with lead counsel Paul Hastings LLP. Morris James LLP professionals will bill at these hourly rates: -- Eric J. Monzo Partner $905 -- Brya M. Keilson Partner $850 -- Jason S. Levin Associate $525 -- Siena B. Cerra Associate $425 -- Stephanie Lisko Paralegal $385 -- Douglas J. Depta Paralegal $385 According to court filings, Morris James LLP is a "disinterested person" as defined in Section 101(14) of the Bankruptcy Code. The firms can be reached at: Eric J. Monzo, Esq. Jason S. Levin, Esq. Siena B. Cerra, Esq. MORRIS JAMES LLP 500 Delaware Avenue, Suite 1500 Wilmington, DE 19801 Telephone: (302) 888-6800 Facsimile: (302) 571-1750 E-mail: emonzo@morrisjames.com jlevin@morrisjames.com scerra@morrisjames.com - and - Kristopher M. Hansen, Esq. Jonathan D. Canfield, Esq. Gabriel E. Sasson, Esq. Marcella Leonard, Esq. PAUL HASTINGS LLP 200 Park Avenue New York, NY 10166 Telephone: (212) 318-6000 Facsimile: (212) 319-2665 E-mail: krishansen@paulhastings.com About Marelli Automotive Lighting USA LLC Marelli Automotive Lighting USA LLC is a global automotive parts supplier based in Saitama, Japan. The Company designs and manufactures advanced technologies for leading automakers, including lighting systems, electronic components, software solutions, and interior products. Operating in 24 countries with a workforce of over 46,000, Marelli also collaborates with motorsports teams and industry partners on high-performance component development. Marelli Automotive Lighting USA LLC and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-11034) on June 11. 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 billion and $10 billion each. Honorable Bankruptcy Judge Craig T. Goldblatt handles the case. The Debtors are represented by Joshua A. Sussberg, P.C., Nicholas M. Adzima, Esq., and Evan Swager, Esq. at KIRKLAND & ELLIS LLP and KIRKLAND & ELLIS INTERNATIONAL LLP, and Ross M. Kwasteniet, P.C. and Spencer A. Winters, P.C. The Debtors' Bankruptcy Co-counsel are Laura Davis Jones, Esq., Timothy P. Cairns, Esq., and Edward A. Corma, Esq. at PACHULSKI STANG ZIEHL & JONES LLP. ALVAREZ & MARSAL NORTH AMERICA, LLC is the Debtors' Restructuring Advisor. PJT PARTNERS INC. is the Debtors' Investment Banker. KURTZMAN CARSON CONSULTANTS, LLC, dba VERITA GLOBAL, is the Debtors' Notice & Claims Agent. MARELLI AUTOMOTIVE: Committee Taps Paul Hastings as Counsel ----------------------------------------------------------- The Official Committee of Unsecured Creditors of Marelli Automotive Lighting USA LLC and its affiliates seeks approval from the U.S. Bankruptcy Court for the District of Delaware to retain Paul Hastings LLP as its legal counsel Paul Hastings will provide these services: (a) assist the Committee in its oversight of the Chapter 11 proceedings; (b) evaluate and negotiate post-petition financing, cash collateral usage, and exit financing; (c) analyze the Debtors' capital structure, claims, and interests; (d) assess executory contracts and unexpired leases and negotiate with relevant parties; (e) investigate the Debtors' conduct, assets, liabilities, and financial condition; (f) evaluate potential estate claims and avoidance actions; (g) review proposed sales of the Debtors' assets or businesses, including bidding procedures and agreements; (h) evaluate and negotiate chapter 11 plans and disclosure statements; (i) draft and review pleadings, motions, objections, and other legal documents on behalf of the Committee; (j) represent the Committee in hearings, mediations, and litigation proceedings; (k) consult and negotiate with stakeholders; (l) communicate with the Committee's constituents under section 1102 of the Bankruptcy Code; and (m) perform other legal services as necessary in connection with the Chapter 11 proceedings. Paul Hastings will be paid at these hourly rates: -- Partners: $1,625 to $2,520 -- Of Counsel: $1,575 to $2,395 -- Associates: $825 to $1,520 -- Paralegals: $295 to $670 Paul Hastings will also seek reimbursement for out-of-pocket expenses incurred during the engagement. According to court filings, Paul Hastings is a "disinterested person" as defined under Section 101(14) of the Bankruptcy Code. Paul Hastings also made the following disclosures in response to the request for additional information set forth in Paragraph D.1 of the U.S. Trustee Guidelines: Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Answer: No. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Answer: No. Question: If you represented the client in the 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If your billing rates and material financial terms have changed postpetition, explain the difference and the reasons for the difference. Answer: Not applicable. Question: Has your client approved your prospective budget and staffing plan, and, if so, for what budget period? Answer: The Committee and Paul Hastings expect to work together to develop a budget and staffing plan for the Chapter 11 Cases. The firm can be reached at: Kristopher M. Hansen, Esq. Jonathan D. Canfield, Esq. Gabriel E. Sasson, Esq. Marcella Leonard, Esq. Paul Hastings LLP 200 Park Avenue New York, NY 10166 Telephone: (212) 318-6000 E-mail: krishansen@paulhastings.com joncanfield@paulhastings.com gabesasson@paulhastings.com marcellaleonard@paulhastings.com About Marelli Automotive Lighting USA LLC Marelli Automotive Lighting USA LLC is a global automotive parts supplier based in Saitama, Japan. The Company designs and manufactures advanced technologies for leading automakers, including lighting systems, electronic components, software solutions, and interior products. Operating in 24 countries with a workforce of over 46,000, Marelli also collaborates with motorsports teams and industry partners on high-performance component development. Marelli Automotive Lighting USA LLC and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-11034) on June 11. 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 billion and $10 billion each. Honorable Bankruptcy Judge Craig T. Goldblatt handles the case. The Debtors are represented by Joshua A. Sussberg, P.C., Nicholas M. Adzima, Esq., and Evan Swager, Esq. at KIRKLAND & ELLIS LLP and KIRKLAND & ELLIS INTERNATIONAL LLP, and Ross M. Kwasteniet, P.C. and Spencer A. Winters, P.C. The Debtors' Bankruptcy Co-counsel are Laura Davis Jones, Esq., Timothy P. Cairns, Esq., and Edward A. Corma, Esq. at PACHULSKI STANG ZIEHL & JONES LLP. ALVAREZ & MARSAL NORTH AMERICA, LLC is the Debtors' Restructuring Advisor. PJT PARTNERS INC. is the Debtors' Investment Banker. KURTZMAN CARSON CONSULTANTS, LLC, dba VERITA GLOBAL, is the Debtors' Notice & Claims Agent. MARIN SOFTWARE: Dismisses Grant Thornton as Auditor --------------------------------------------------- Marin Software Incorporated disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Board of Directors, on the recommendation of the Audit Committee of the Board, terminated the engagement of Grant Thornton LLP as the Company's independent registered public accounting firm, effective immediately. GT's report on the financial statements for the years ended December 31, 2023 and 2022 contained no adverse opinion or disclaimer of opinion and was not qualified or modified as to audit scope or accounting, except that the report contained an explanatory paragraph stating that there was substantial doubt about the Company's ability to continue as a going concern. During the Company's fiscal years ended December 31, 2024 and 2023 and through the subsequent interim period ending on the Dismissal Date, there have been no disagreements with GT on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements if not resolved to the satisfaction of GT would have caused them to make reference thereto in their report on the financial statements. During the years ended December 31, 2023 and December 31, 2024 and the interim period through the Notification Date, there have been no reportable events with us as set forth in Item 304(a)(1)(iv) of Regulation S-K. As of July 24, 2025, the Company has not engaged a new independent registered public accounting firm. About Marin Software Incorporated Marin Software Incorporated provides a software-as-a-service platform for managing digital advertising across search, social, and eCommerce channels. Its platform offers analytics, workflow, and optimization tools designed to help performance marketers and agencies improve returns on advertising spend. Marin Software Incorporated sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11263) on July 1, 2025. In its petition, the Debtor reported total assets of $5,656,853 and total debts of $2,767,237. Judge Laurie Selber Silverstein oversees the cases. The Debtor tapped James E. O'Neill, Esq., at Pachulski Stang Ziehl & Jones, LLP as bankruptcy counsel; Fenwick & West, LLP as corporate counsel; and Armanino Advisory, LLC as financial advisor. Donlin, Recano & Company, Inc. is the Debtor's claims, noticing and solicitation agent and administrative advisor. YYYYY, LLC, as lender is represented by: Mark E. Felger, Esq. Marla S. Benedek, Esq. Cozen O'Connor 1201 N. Market Street, Suite 1001 Wilmington, DE 19801 Telephone: (302) 295-2024 Facsimile: (302) 250-4498 mfelger@cozen.com mbenedek@cozen.com MATADOOR RESTAURANT: Gets Interim OK to Use Cash Collateral ----------------------------------------------------------- The U.S. Bankruptcy Court for the District of South Carolina granted Matadoor Restaurant Group, LLC interim approval to use cash collateral until August 13. The Debtor lacks sufficient assets to operate and needs to use its cash collateral to preserve business operations. The court's interim order authorized the Debtor to use cash collateral pursuant to its budget, with a 10% variance per line item. The budget projects total operational expenses of $9,257,546. Encore Bank, Amur Equipment and numerous merchant cash advance (MCA) creditors may assert an interest in the cash collateral. As adequate protection, the secured creditors will be granted replacement liens on cash collateral generated after the Debtor's Chapter 11 filing, with the same validity, priority and extent as their pre-bankruptcy liens. The final hearing is scheduled for August 13. Encore Bank, as secured creditor, is represented by: Mary M. Caskey, Esq. Post Office Drawer 11889 Columbia, SC 29211 Phone: (803) 779.3080 Fax: (803) 765.1243 mcaskey@hsblawfirm.com About Matadoor Restaurant Group LLC Matadoor Restaurant Group LLC, d/b/a Del Taco, operates and manages franchised and proprietary restaurant concepts in the United States. The Company serves as a franchisee of Del Taco and operates The Matador, a full-service Mexican restaurant in Greenville, South Carolina. It functions under Red Door Brands, LLC, which oversees a portfolio of foodservice operations including additional national quick-service brands. Matadoor Restaurant Group sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.S.C. Case No. 25-02698) on July 15, 2025. In its petition, the Debtor reported estimated assts and liabilities between $1 million and $10 million. The Debtor is represented by: Christine E. Brimm, Esq. Barton Brimm, PA Tel: 803-256-6582 Email: cbrimm@bartonbrimm.com MATER ACADEMY OF NEVADA: S&P Rates Charter School Rev. Bonds 'BB' ----------------------------------------------------------------- S&P Global Ratings assigned its 'BB' long-term rating to the Public Finance Authority, Wis.'s anticipated $18.3 million series 2025A (tax-exempt) and $440,000 series 2025B (taxable) charter school revenue bonds, issued for Mater Academy of Nevada (Mater). At the same time, S&P affirmed its 'BB' rating on Mater's outstanding series 2024A&B, 2020A&B, and 2018A&B charter school revenue bonds. The outlook is stable. S&P said, "We view the school's environmental, social, and governance (ESG) factors as neutral in our credit rating analysis. "The stable outlook reflects our expectation that Mater will maintain its healthy enrollment and improved academics. Additionally, we expect that its recent uneven financial performance, attributable to grant timing, has been resolved, and that stable performance producing positive results and coverage above 1.1x will be the trend going forward. We also expect cash to grow steadily over time. "We could consider a negative rating action if the school's financial performance declines, pressuring lease-adjusted MADS coverage and margins, or if unrestricted reserves do not improve, as expected. We could also consider a negative rating action if the school issues additional debt without commensurate enrollment and revenue growth. "We could consider a positive rating action if Mater maintains its healthy enrollment and improved academics at the Mater East campus while demonstrating track record of improved financial results and growing unrestricted reserves while debt levels moderate." MAVERICK RESTAURANT: Gets Interim OK to Use Cash Collateral ----------------------------------------------------------- Maverick Restaurant Group, LLC received interim approval from the U.S. Bankruptcy Court for the District of South Carolina to use cash collateral. The court's interim order authorized the Debtor to use cash collateral until August 13 to pay the expenses set forth in its budget. The Debtor projects total operational expenses of $1,382,419. Rocket Enterprises and numerous merchant cash advance (MCA) creditors may have an interest in the cash collateral. As adequate protection for any diminution in the value of their cash collateral, the secured creditors will be granted replacement liens on cash collateral generated after the Debtor's Chapter 11 filing, with the same validity, priority and extent as their pre-bankruptcy liens. The final hearing is scheduled for August 13. Objections are due by August 7. About Maverick Restaurant Group LLC Maverick Restaurant Group, LLC operates a portfolio of restaurant brands including Red Door Pizza and Red Door Sandwich, with its base of operations in Greenville, South Carolina. The company is affiliated with Red Door Brands, which manages multiple fast-casual and quick-service dining concepts across the Southeastern United States. Maverick Restaurant Group sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.S.C Case No. 25-02699) on July 15, 2025, listing between $1 million and $10 million in assts and liabilities. The petition was signed by Argus Wiley as manager. The Debtor is represented by: Christine E. Brimm, Esq. Barton Brimm, PA Tel: 803-256-6582 Email: cbrimm@bartonbrimm.com MERIT STREET: Seeks to Hire Sidley Austin LLP as Attorney --------------------------------------------------------- Merit Street Media, Inc seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Sidley Austin LLP as its attorneys. The firm will render these services: a. provide legal advice with respect to the Debtors' powers and duties as debtors in possession in the continued operation of the Debtors' business; b. take all necessary action to protect and preserve the Debtors' estates, including the prosecution of actions on the Debtors' behalf, the defense of actions commenced against the Debtors, the negotiation of disputes in which the Debtors are involved, and the preparation of objections, as necessary, to relief sought and claims filed against the Debtors' estates; c. prepare on behalf of the Debtors, as debtors in possession, all necessary motions, applications, answers, orders, reports, and other court filings and papers in connection with the administration of the Debtors' estates; d. advise the Debtors concerning, and prepare responses to, applications, motions, other pleadings, notices, and other papers that may be filed by other parties in these chapter 11 cases; e. attend meetings and negotiate with representatives of creditors and other parties in interest, attend court hearings, and advise the Debtors on the conduct of their chapter 11 cases; f. together with Meru and Hilco, advise, negotiate, and assist with any sale or other disposition of the Debtors' assets; g. prepare and refine on behalf of the Debtors a chapter 11 plan, disclosure statement, and/or all related agreements and documents necessary to facilitate an exit from these chapter 11 cases, take appropriate action on behalf of the Debtors to obtain confirmation of such plan, and take such further actions as may be required in connection with the implementation of such plan; h. provide legal advice and perform legal services with respect to matters relating to corporate governance, the interpretation, application or amendment of the Debtors' organizational documents, material contracts, and matters involving the Debtors with their officers, directors, and managers; i. provide legal advice and legal services with respect to litigation, tax, and other general legal issues for the Debtors to the extent requested by the Debtors; and j. perform all other necessary legal services in connection with the prosecution of these chapter 11 cases. The firm will be paid at these hourly rates: Attorneys $830 to $2,610 Paraprofessionals $470 to $665 In addition, the firm will seek reimbursement for expenses incurred. Prior to the petition date, the firm received an advance retainer of $1,250,000 from the Debtors. The following responses are provided in response to the questions set forth in Paragraph D.1 of the U.S. Trustee Guidelines. 1. Question: Did Sidley agree to any variations from, or alternatives to, Sidley's standard or customary billing arrangements for this engagement? Answer: Sidley did not agree to any variations from, or alternatives to, its standard or customary billing arrangements for this engagement. 2. Question: Do any of the Sidley professionals in this engagement vary their rate based on the geographic location of the bankruptcy case? Answer: No. The hourly rates of the Sidley professionals representing the Debtor are consistent with the rates that Sidley charges other chapter 11 clients, regardless of the geographic location of the chapter 11 case. 3. Question: If Sidley represented the Debtor in the 12 months prepetition, disclose Sidley's billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If Sidley's billing rates and material financial terms have changed postpetition, explain the difference and the reasons for the difference. Answer: The billing rates and material financial terms of Sidley's prepetition engagement by the Debtor are comparable to such postpetition rates and terms as set forth in the Application. Such billing rates are subject to periodic increases, as set forth herein and in the Application, but other material financial terms have not changed postpetition compared to services provided to the Debtor prepetition. 4. Question: Has the Debtor approved Sidley's prospective budget and staffing plan, and, if so, for what budget period? Answer: Sidley, in conjunction with the Debtor and Portage Point, is developing a prospective budget and staffing plan for this chapter 11 case. Stephen Hessler, Esq., a partner at Sidley Austin, 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 E. Hessler, Esq. Patrick Venter, Esq. Weiru Fang, Esq. SIDLEY AUSTIN LLP 787 Seventh Avenue New York, NY 10019 Telephone: (212) 839-5300 Facsimile: (212) 839-5599 Email: shessler@sidley.com pventer@sidley.com weiru.fang@sidley.com About Merit Street Media Merit Street Media is a television and media content production and distribution company based in Fort Worth, Texas. It appears to focus on creating, producing, and distributing television content, maintaining business relationships with major cable providers including DIRECTV and DISH Network, as well as numerous television stations and production companies. Merit Street Media sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-80156) on July 2, 2025, before the Hon. Scott W. Everett. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million. The Debtor is represented by Sidley Austin LLP as bankruptcy counsel. Epiq Corporate Restructuring, LLC serves as Claims, Noticing, and Solicitation Agent, effective as of the Petition Date. MOBIQUITY TECHNOLOGIES: Registers 2.8M Shares for Resale via ELOC ----------------------------------------------------------------- Mobiquity Technologies, Inc. filed a Registration Statement on Form S-1 with the U.S. Securities and Exchange Commission to file a preliminary prospectus relating to the potential offer and resale by the Selling Stockholders -- ClearThink Capital Partners, LLC, Stephen Kiront, Mackey Alligood, and Barry Kiront -- or their permitted transferees of an aggregate of 2,800,000 shares of the Company's common stock, $0.0001 par value per share, which represents less than one-third of the Company's public float, including 2,774,193 shares of Common Stock issuable pursuant to that certain purchase agreement (the "ELOC Purchase Agreement") dated June 30, 2025, by and between ClearThink Capital Partners and the Company and 25,807 shares of Common Stock issued to individuals of Craft Capital Management, LLC, the finder in the aforementioned transaction. The registration of the shares of the Company's Common Stock covered by this prospectus does not necessarily mean that any shares of its Common Stock will be sold by any of the Selling Stockholders, and the Company cannot predict when or in what amounts any of the Selling Stockholders may sell any of its shares of Common Stock offered by this prospectus. The Selling Stockholders, or their respective transferees, pledgees, donees or other successors-in-interest, may sell the Common Stock through public or private transactions at prevailing market prices, at prices related to prevailing market prices or at privately negotiated prices. The Selling Stockholders may sell any, all or none of the securities offered by the prospectus, and the Company does not know when or in what amount the Selling Stockholders may sell their shares of Common Stock hereunder following the effective date of this registration statement. More information about how a Selling Stockholders may sell its shares of Common Stock is available at https://tinyurl.com/5n7myffk There is currently a limited public trading market for the Company's Common Stock. The Company's Common Stock is listed on the OTCQB under the symbol "MOBQ." The last reported sale price of its common stock on the Nasdaq Capital Market on July 21, 2025, was $1.48 per share. The Selling Stockholders may be deemed an "underwriter" within the meaning of Section 2(a)(11) of the Securities Act. The Company is registering the shares of Common Stock on behalf of the Selling Stockholders, to be offered and sold by them from time to time. The Company will not receive any proceeds from the sale of the Common Stock by the Selling Stockholders in the offering described in this prospectus. The Company have agreed to bear all of the expenses incurred in connection with the registration of the Common Stock. The Selling Stockholders will pay or assume discounts, commissions, fees of underwriters, selling brokers or dealer managers and similar expenses, if any, incurred for the sale of the Common Stock. A full-text copy of the Registration Statement is available at: https://tinyurl.com/23ws78sw About Mobiquity Technologies Mobiquity Technologies, Inc., headquartered in Shoreham, NY, is an advertising technology, data compliance, and intelligence company that operates through several proprietary software platforms. Its product solutions include the Advertising Technology Operating System (ATOS Platform), Data Intelligence Platform, and Publisher Platform for Monetization and Compliance. In an audit report dated April 7, 2025, the Company's auditor, Assurance Dimensions, issued a "going concern" qualification citing that the Company had a working capital deficit of $1,257,393, an accumulated deficit of $225,633,521 and a net loss of $8,593,182 for the year then ended. These and other factors raise substantial doubt about the Company's ability to continue as a going concern. MORVATT ENTERPRISES: Trustee Hires Herron Auction as Auctioneer --------------------------------------------------------------- Matthew Golden, the trustee appointed in the Chapter 11 case of Morvatt Enterprises, LLC, seeks approval from the U.S. Bankruptcy Court for the Western District of Kentucky to employ Herron Auction and Realty as auctioneer. The firm will auction the Debtor's real estate of several tracts formally used as poultry farms in Webster and Davies Counties, Kentucky. The firm will receive a compensation of 10 percent buyers premium on the sales price of the subject property. The firm represents no interest adverse to the Debtor or to the estate on the matters upon which it is to be engaged. The firm can be reached at: Herron Auction and Realty 431 2nd St. Henderson, KY 42420 Telephone: (270) 826-6216 About Morvatt Enterprises Morvatt Enterprises, LLC, a company in Henderson, Ky., filed a Chapter 11 petition (Bankr. W.D. Ky. Case No. 23-40488) on Aug. 22, 2023, with up to $50,000 in assets and $1 million to $10 million in liabilities. Charles H. Morris, Jr., owner and sole member, signed the petition. Judge Charles R. Merrill oversees the case. Sandra D. Freeburger, Esq., at Deitz Shields & Freeburger, LLP is the Debtor's legal counsel. MOSAIC SUSTAINABLE: Committee Seeks to Hire DLA Piper as Counsel ---------------------------------------------------------------- The official committee of unsecured creditors appointed in the Chapter 11 cases of Mosaic Sustainable Finance Corporation and its affiliates seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ DLA Piper LLP (US) as counsel. The firm will provide these services: (a) advise the committee of its rights, powers, and duties in the Chapter 11 cases; (b) participate in in-person and telephonic meetings of the committee and any subcommittees formed thereby; (c) assist and advise the committee in its consultations, meetings and negotiations with the Debtors and all other parties in interest regarding the administration of the Chapter 11 cases; (d) assist the committee in analyzing the claims asserted against and interests asserted in the Debtors, in negotiating with the holders of such claims and interests, and in bringing, participating in, or advising the committee with respect to contested matters and adversary proceedings; (e) assist with the committee's review of the Debtors' schedules of assets and liabilities, statements of financial affairs and other financial reports prepared by the Debtors, and its investigation of the acts, conduct, assets, liabilities and financial condition of the Debtors and of the historic and ongoing operation of their business; (f) assist the committee in its analysis of, and negotiations with, the Debtors or any third party related to, among other things, financings, use, sale or leasing of their assets; (g) assist the committee in its analysis of, and negotiations with, the Debtors or any third party related to, the negotiation, formulation, confirmation and implementation of a Chapter 11 plan for the Debtors, and all pleadings, agreements and documentation related thereto; (h) assist and advise the committee with respect to its communications with the general creditor body regarding significant matters in the Chapter 11 cases; (i) represent the committee at all hearings and other proceedings before the Court and such other courts or tribunals, as appropriate; (j) review and analyze all complaints, motions, applications, orders and other pleadings filed with the court, and advise the committee with respect to its position thereon and the filing of any response thereto; (k) assist the committee in preparing pleadings and applications, and pursuing or participating in adversary proceedings, contested matters and administrative proceedings as may be necessary or appropriate in furtherance of its interests and objectives; and (l) perform such other legal services as may be necessary or as may be requested by the committee in accordance with its powers and duties as set forth in the Bankruptcy Code. The firm's services will be based upon the amount of time required at standard billing rates plus out-of-pocket expenses. Dennis O'Donnell, an attorney at DLA Piper, 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: Dennis O'Donnell, Esq. DLA Piper LLP 650 S. Exeter St., Ste. 1100 Baltimore, MD 21202 About Mosaic Sustainable Finance Mosaic Sustainable Finance Corporation and its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90156) on June 6, 2025, with $1,000,000,001 to $10 billion in assets and liabilities. Judge Christopher M. Lopez presides over the case. Charles Martin Persons, Esq., at Paul Hastings LLP represents the Debtor as legal counsel. On June 19, 2025, the Office of the United States Trustee for Region 7 appointed an official committee of unsecured creditors in these Chapter 11 cases. The committee tapped DLA Piper LLP (US) as counsel and FTI Consulting, Inc. as financial advisor. MOSAIC SUSTAINABLE: Committee Seeks to Tap FTI as Financial Advisor ------------------------------------------------------------------- The official committee of unsecured creditors appointed in the Chapter 11 cases of Mosaic Sustainable Finance Corporation and its affiliates seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ FTI Consulting, Inc. as financial advisor. The firm will render these services: (a) assist in the preparation of analyses required to assess any proposed Debtor-In Possession ("DIP") financing or use of cash collateral; (b) assist with the assessment and monitoring of the Debtors' short-term cash flow, liquidity, and operating results; (c) assist with the review of the Debtors' proposed employee compensation and benefits programs; (d) assist with the review of the Debtors' potential disposition or liquidation of both core and non-core assets; (e) assist with the review of the Debtors' cost/benefit analysis with respect to the affirmation or rejection of various executory contracts and leases; (f) assist with the review of the Debtors' identification of potential cost savings, including overhead and operating expense reductions and efficiency improvements; (g) assist in the review and monitoring of the asset sale process; (h) assist with review of any tax issues associated with, but not limited to, claims/stock trading, preservation of net operating losses, refunds due to the Debtors, plans of reorganization, and asset sales; (i) assist in the review of the claims reconciliation and estimation process; (j) assist in the review of other financial information prepared by the Debtors; (k) attend at meetings and assistance in discussions with the Debtors, potential investors, banks, other secured lenders, the committee and any other official committees organized in these Chapter 11 proceedings, the U.S. Trustee, other parties in interest and professionals hired by the same, as requested; (l) assist in the review and/or preparation of information and analysis necessary for the confirmation of a plan and related disclosure statement in these Chapter 11 proceedings; (m) assist in the evaluation and analysis of avoidance actions, including fraudulent conveyances and preferential transfers; (n) assist in the prosecution of committee responses/objections to the Debtors' motions; and (o) render such other general business consulting or such other assistance as the committee or its counsel may deem necessary that are consistent with the role of a financial advisor and not duplicative of services provided by other professionals in this proceeding. The firm will be paid at these hourly rates: Senior Managing Directors $1,185 - $1,525 Directors/Senior Directors/Managig Directors $890 - $1,155 Consultants/Senior Consultants $485 - $820 Administrative/Paraprofessionals $190 - $385 In addition, the firm will seek reimbursement for expenses incurred. Clifford Zucker, a senior managing director at FTI Consulting, 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: Clifford Zucker FTI Consulting Inc. 2001 Ross Avenue, Suite 650 Dallas, TX 75201 Telephone: (214) 397-1600 Facsimile: (214) 397-1790 About Mosaic Sustainable Finance Mosaic Sustainable Finance Corporation and its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90156) on June 6, 2025, with $1,000,000,001 to $10 billion in assets and liabilities. Judge Christopher M. Lopez presides over the case. Charles Martin Persons, Esq., at Paul Hastings LLP represents the Debtor as legal counsel. On June 19, 2025, the Office of the United States Trustee for Region 7 appointed an official committee of unsecured creditors in these Chapter 11 cases. The committee tapped DLA Piper LLP (US) as counsel and FTI Consulting, Inc. as financial advisor. MULBERRY GROUP: Hires Marsh Atkinson & Brantley as Special Counsel ------------------------------------------------------------------ The Mulberry Group, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ the law firm of Marsh Atkinson & Brantley LLC as special counsel. The firm will represent the Debtor in connection with the pending litigation against Emilia Foods, LLC and Transworld Food Services, LLC, Adversary Proceeding No. 25-02021, and in particular with prosecution of its counterclaims against the Plaintiffs. The firm will be paid at these hourly rates: David Atkinson, Attorney $290 Associates $215 Mr. Atkinson 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 Atkinson, Esq. Marsh Atkinson & Brantley LLC 271 17th St. NW 1600 Atlanta, GA 30301 About The Mulberry Group LLC The Mulberry Group LLC operates as a real estate investment firm, providing rental properties and related property management services. The Mulberry Group LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-20508) on April 13, 2025, listing $1 million to $10 million in assets and $100,000 to $500,000 in liabilities. The petition was signed by S. Roger Cahoon as managing member. The Debtor tapped John A. Christy, Esq. at Schreeder, Wheeler & Flint, LLP as counsel; Hungeling-Grace CPA as accountant; and David F. Cooper, PC and Marsh Atkinson & Brantley LLC as special counsel. MULBERRY GROUP: Seeks to Hire David F. Cooper as Special Counsel ---------------------------------------------------------------- The Mulberry Group, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ the law firm of David F. Cooper, PC as special counsel. The firm will represent the Debtor in connection with the pending litigation against Emilia Foods, LLC and Transworld Food Services, LLC, Adversary Proceeding No. 25-02021, and in particular with prosecution of its counterclaims against the Plaintiffs. David Cooper, Esq., the primary attorney in this representation, will be paid at his hourly rate of $450. Mr. Cooper 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 F. Cooper, Esq. David F. Cooper, PC 35 Johnson Ferry Rd. Marietta, GA 30068 About The Mulberry Group LLC The Mulberry Group LLC operates as a real estate investment firm, providing rental properties and related property management services. The Mulberry Group LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-20508) on April 13, 2025, listing $1 million to $10 million in assets and $100,000 to $500,000 in liabilities. The petition was signed by S. Roger Cahoon as managing member. The Debtor tapped John A. Christy, Esq. at Schreeder, Wheeler & Flint, LLP as counsel; Hungeling-Grace CPA as accountant; and David F. Cooper, PC and Marsh Atkinson & Brantley LLC as special counsel. NAUTICA'S EDGE: Unsecureds to be Paid in Full over 36 Months ------------------------------------------------------------ Nautica's Edge LLC filed with the U.S. Bankruptcy Court for the Northern District of Georgia a First Plan of Reorganization dated July 28, 2025. The Debtor is a Georgia limited liability company. Debtor's sole owner is an individual named Dr. Sarvepalli Jokhai. The Debtor's primary business is the ownership and management of two (2) separate but adjacent parcels of real property. One is 3.52 acres of raw land (the "Raw Land"), which secures a pre petition loan by River Place Showcase, LLC, Debtor's primary secured creditor. The other is a rental property rented on services such as AirBNB and VRBO. The Plan proposes to pay creditors as much as they would receive in a Chapter 7 liquidation, as the Plan (1) commits the proceeds from the sale of the Raw Land to pay River Place and (2) to the extent there is a shortfall of funds to pay River Place after the Raw Land is sold, the Plan contains a commitment from Dr. Jokhai to pay any additional amounts owed. The Plan proponent's financial projections, show that the Debtor will have projected disposable income which in this instance is a 36- month payment plan. Until (1) the Raw Land is sold and (2) the expected objection to River Place's proof of claim (the "Claim Objection") is resolved, Debtor does not know what amounts River Place will be entitled to receive under Debtor's Plan. Accordingly, Debtor submits that River Place shall receive any undisputed funds from the Raw Land pending the resolution of the Claim Objection. Once the Claim Objection is resolved, Debtor shall pay any remaining funds from the sale of the Raw Land and to River Place. To the extent there is a shortfall to pay River Place in full, Dr. Jokhai shall pay any additional amounts owed over 36 months. This Plan proposes to pay creditors of Debtor from (1) the sale of the Raw Land and (2) by having Dr. Jokhai contribute funds to pay creditors, to the extent necessary. Under the Plan, all allowed secured claims shall be paid in full up to the extent of the claim, or the value of the collateral securing each such claim, whichever is less. Any priority claims, such as priority tax claims, allowed by the Court shall be paid in full. This Plan also provides for the payment of administrative claims in full. Non-priority unsecured creditors (also known as general unsecured creditors) holding allowed claims will receive distributions, in a pro rata amount based on the proportion of their claims to all general unsecured claims, after payment of secured claims, administrative expenses, and priority claims. Class 3 consists of Non-priority unsecured claims, also known as general unsecured claims. To the extent River Place is not paid in full from the sale of the Raw Land, the remainder of its claim shall be treated as a class 3 claim. Class 3 claims shall be paid in full over the 36-month term of the Plan. The Debtor will fund the Plan payments through (1) the sale of the Raw Land; (2) contributions from Dr. Jokhai; and (3) future earnings from the operating of the rental property. Debtor has filed financial projections with this Plan showing that the proposed monthly payments are feasible based on projected income and expenses. A full-text copy of the First Plan of Reorganization dated July 28, 2025 is available at https://urlcurt.com/u?l=MGJiRD from PacerMonitor.com at no charge. The firm can be reached through: Michael D. Robl, Esq. Maxwell W. Bowen, Esq. ROBL & BOWEN, LLC 3754 Lavista Road, Suite 250 Tucker, GA 30084 Tel: (404) 373-5153 Fax: (404) 537-1761 Email: max@roblgroup.com Email: michael@roblgroup.com About Nautica's Edge LLC Nautica's Edge LLC owns two properties in Atlanta, Georgia. The first is a rental home at 6550 Powers Ferry Rd NW, with an estimated value of $915,000. The second is a 3.52-acre undeveloped parcel at 6500 Powers Ferry Rd NW, valued at around $750,000. Nautica's Edge LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-54710) on April 29, 2025. In its petition, the Debtor reports total assets of $1,670,000 and total liabilities of $505,000. The Debtor is represented by Michael D. Robl, Esq. at ROBL & BOWEN LLC. NIKOLA CORP: Hyroad Energy to Buy IP, Remaining EV Fleet -------------------------------------------------------- James Nani of Bloomberg Law reports that Nikola Corp., the bankrupt electric vehicle maker, has chosen hydrogen truck startup Hyroad Energy to acquire its remaining intellectual property and a fleet of fuel cell electric trucks. According to a court filing on Thursday, July 31, 2025, in the U.S. Bankruptcy Court for the District of Delaware, Hyroad -- operating through Austin-based Simoneta Ltd. -- has agreed to buy 103 fuel cell trucks, along with Nikola’s patents, trademarks, copyrights, and website domains, for $3.85 million. Nikola filed for Chapter 11 bankruptcy in February after struggling with weak sales and executive departures, following a high-profile fraud scandal involving its founder, Trevor Milton, the report states. The Troubled Company Reporter previously reported that the Debtors were engaged in the design and manufacture of battery-electric and hydrogen fuel cell electric trucks, with a focus on zero-emissions commercial transportation. The Debtors also developed and commercialized hydrogen fueling infrastructure solutions to support adoption of their vehicles. As of the Petition Date, the Debtors held a broad portfolio of proprietary intellectual property, including patents, trademarks, software, and technical data, integral to their business model and brand (Intellectual Property). The Intellectual Property and the tangible personal property related to the Intellectual Property as well as various other tangible person property (Purchased Assets), are the last material assets owned by the Debtors that have not been sold or are not already being marketed and sold pursuant to sale orders entered previously by the Bankruptcy Court. The Debtors retains Hilco IP Services, LLC d/b/a Hilco Streambank as intangible assets disposition consultant to the Debtors, and Gordon Brothers to market the Intellectual Property and ensure the Debtors received the highest and best offer for the Purchased Assets. Gordon Brothers and HilcoStreambank contacted numerous potential buyers, many of whom were already parties to confidentiality agreements from the previous sale process, and negotiated extensively with four different counterparties, including Simoneta, Ltd., a Delaware corporation, dba Hyroad Energy, and ISSO, LLC. After completing negotiations with the Purchaser, the Debtors determined, in consultation with the Committee, that the Asset Purchase Agreement is the highest and best offer for the Purchased Assets and now seek approval from the Court of the same at a private sale. The Purchase Price for the Purchased Assets is $3,850,000 plus the assumption of Assumed Liabilities. The Assumed Liabilities include those Seller liabilities resulting from the use and ownership of the Purchased Assets by Purchaser or its Affiliates. The private sale of the Purchased Assets excludes all assets, properties and rights of the Debtors other than the Purchased Assets. The Seller shall pay any cure costs (Assumed Liabilities), if applicable, associated with any Assigned Contracts. Good faith deposit is $385,000 in cash. The Debtors have determined that the Purchase Price is the highest and best price that can be achieved for the Purchased Assets under the circumstances. About Nikola Corp. Nikola Corporation and affiliates specialize in the design and manufacture of zero-emissions commercial vehicles, including battery-electric and hydrogen fuel cell trucks. The companies operate in two business units: Truck and Energy. The Truck business unit is commercializing heavy-duty commercial hydrogen-electric (FCEV) and battery-electric (BEV) Class 8 trucks that provide environmentally friendly, cost-effective solutions to the short, medium and long-haul trucking sectors. The Energy business unit is developing hydrogen fueling infrastructure to support FCEV trucks covering supply, distribution and dispensing. Founded in 2015, Nikola is headquartered in Phoenix, Ariz. Nikola and nine of its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del., Lead Case No. 25-10258) on February 19, 2025. In the petitions, the Debtors reported total assets as of Jan. 31, 2025 of $878,094,000 and total debts as of Jan. 31, 2025 of $468,961,000. Honorable Bankruptcy Judge Thomas M. Horan handles the cases. Potter Anderson & Corroon LLP serves as general bankruptcy counsel to the Debtors, and Pillsbury Winthrop Shaw Pittman LLP serves as bankruptcy co-counsel. Houlihan Lokey Capital, Inc. acts as investment banker to the Debtors; M3 Advisory Partners LP acts as financial advisor to the Debtors; while EPIQ Corporate Restructuring LLC is the Debtors' claims and noticing agent. The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee tapped Morrison & Foerster LLP and Morris James, LLP as legal counsels; Ducera Securities, LLC as investment banker; and FTI Consulting, Inc. as financial advisor. NIKOLA CORP: Seeks Court Ok to Lower Priority $13MM Investor Claims ------------------------------------------------------------------- Angelica Serrano-Roman of Bloomberg Law reports that Nikola Corp., the bankrupt electric vehicle manufacturer, has asked the US Bankruptcy Court for the District of Delaware to subordinate a $13 million claim stemming from a securities class action alleging it misrepresented aspects of its business. In its Aug. 1, 2025 filing, the company argued the claim should be ranked below those of general creditors because it is based on shareholder losses from stock transactions. Bankruptcy law permits such claims to be paid only after other creditors, even if they are covered by a settlement, Nikola noted. About Nikola Corporation Nikola Corporation and affiliates specialize in the design and manufacture of zero-emissions commercial vehicles, including battery-electric and hydrogen fuel cell trucks. The companies operate in two business units: Truck and Energy. The Truck business unit is commercializing heavy-duty commercial hydrogen-electric (FCEV) and battery-electric (BEV) Class 8 trucks that provide environmentally friendly, cost-effective solutions to the short, medium and long-haul trucking sectors. The Energy business unit is developing hydrogen fueling infrastructure to support FCEV trucks covering supply, distribution and dispensing. Founded in 2015, Nikola is headquartered in Phoenix, Ariz. Nikola and nine of its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del., Lead Case No. 25-10258) on February 19, 2025. In the petitions, the Debtors reported total assets as of Jan. 31, 2025 of $878,094,000 and total debts as of Jan. 31, 2025 of $468,961,000. Honorable Bankruptcy Judge Thomas M. Horan handles the cases. Potter Anderson & Corroon LLP serves as general bankruptcy counsel to the Debtors, and Pillsbury Winthrop Shaw Pittman LLP serves as bankruptcy co-counsel. Houlihan Lokey Capital, Inc. acts as investment banker to the Debtors; M3 Advisory Partners LP acts as financial advisor to the Debtors; while EPIQ Corporate Restructuring LLC is the Debtors' claims and noticing agent. The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee tapped Morrison & Foerster LLP and Morris James, LLP as legal counsels; Ducera Securities, LLC as investment banker; and FTI Consulting, Inc. as financial advisor. NORTIA LOGISTICS: Seeks to Tap Gutnicki as Co-Bankruptcy Counsel ---------------------------------------------------------------- Nortia Logistics Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to employ Gutnicki LLP as co-bankruptcy counsel. The firm will provide these services: (a) negotiate with creditors; (b) prepare a plan; (c) examine and resolve claims filed against the estate; (d) prepare and prosecute adversary proceedings; if any; (e) prepare pleadings filed in the case; (f) interact with the U.S. Trustee; (g) attend court hearings; and (h) otherwise represent the Debtor in matters before the court. The firm will be paid at these hourly rates: Miriam Stein Granek, Of Counsel $450 Attorneys $345 - $850 Ms. Granek 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: Miriam Stein Granek, Esq. Gutnicki LLP 4711 Golf Rd., Ste. 200 Skokie, IL 60076 Telephone: (847) 745-6592 Email: mgranek@gutnicki.com About Nortia Logistics Inc. Nortia Logistics Inc. is a privately held, asset-based logistics provider founded in 2012 and headquartered in Franklin Park, IL. It specializes in multimodal freight transportation covering full-truckload (FTL), less-than-truckload (LTL), and intermodal services as well as warehousing, with operations across the U.S. and Canada. Nortia Logistics sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-08699) on June 2, 2025. In its petition, the Debtor reported estimated assets of $1,357,500 and total liabilities of $5,793,218. Judge Timothy A. Barnes handles the case. The Debtor tapped David Freydin, Esq., at the Law Offices of David Freydin and Miriam Stein Granek, Esq., at Gutnicki LLP as counsel. ORION MENTAL: Seeks to Extend Plan Filing Deadline to November 24 ----------------------------------------------------------------- Orion Mental Health Center LLC asked the U.S. Bankruptcy Court for the Southern District of Florida to extend its periods to file a disclosure statement and plan of reorganization to November 24, 2025. The Debtor explains that at the heart of its case is the dispute with the Florida Agency for Healthcare Administration ("AHCA") for alleged overpayments and incorrect billing. The Debtor claims that its special counsel Erin M. Ferber, Esq. of Nicholson & Eastin, LLP has successfully negotiated an agreement with AHCA. While the deal is accepted by both sides, the AHCA has taken significant time to finalize and sign the documents. Debtor is waiting for signatures before moving forward with a Plan of Reorganization. Once the agreement is executed by both parties, the Debtor will immediately prepare the plan without further delay. Orion Mental Health Center LLC is represented by: Chad T. Van Horn, Esq. Van Horn Law Group, PA 500 NE 4th Street, Suite 200 Fort Lauderdale, FL 33301 Telephone: (561) 621-1360 Email: info@cvhlawgroup.com About Orion Mental Health Center Orion Mental Health Center LLC sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 24-15804) on June 11, 2024, listing $100,001 to $500,000 in both assets and liabilities. Judge Corali Lopez-Castro presides over the case. Chad T. Van Horn, Esq., at Van Horn Law Group, PA, is the Debtor's bankruptcy counsel. PAWLUS DENTAL: Gets Final OK to Use Cash Collateral --------------------------------------------------- Pawlus Dental, Inc. received final approval from the U.S. Bankruptcy Court for the Southern District of Indiana, Indianapolis Division, to use its secured creditors' cash collateral. The final order penned by Judge James Carr authorized the Debtor's use of cash collateral, which consists of cash, cash equivalents, receivables, cash on deposit, and inventory, in accordance with its budget. The Debtor has identified several secured creditors, including German American Bank, Bizfund, LLC and Channel Partners Capital that may assert a lien on the cash collateral. As protection for the Debtors' use of their cash collateral, secured creditors will be granted a replacement lien on the cash collateral and post-petition property of the Debtor of the same nature and to the same extent and in the same priority held in the cash collateral on the petition date. As further protection, German American Bank will continue to receive a monthly payment of $6,547.14. German American Bank holds a first lien position, having been a lender since 2016. About Pawlus Dental Inc. Pawlus Dental, Inc. provides comprehensive dental services in Columbus, Ind., focusing on preserving natural teeth and enhancing smile aesthetics. The practice offers treatments including dental implants, sleep apnea management, clear aligners, periodontal and cosmetic care, preventive and restorative dentistry, wisdom teeth extraction, root canal therapy, and sedation dentistry. Pawlus Dental sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Case No. 25-02780) on May 14, 2025, listing $890,156 in total assets and $1,119,328 in total liabilities. John G. Pawlus, president and owner of Pawlus Dental, signed the petition. Judge James M. Carr oversees the case. John Allman, Esq., at Hester Baker Krebs, LLC is the Debtor's bankruptcy counsel. German American Bank, as lender, is represented by: Bruce A. Smith, Esq. Rhonda S. Miller, Esq. Smith & Miller, LLP P.O. Box 387 Bargersville, IN 46106 Phone: (812) 802-0222 bsmith@smithmillerlaw.com rmiller@smithmillerlaw.com PRAIRIE EYE: Seeks Court Approval to Hire Sikich as Accountant -------------------------------------------------------------- Prairie Eye Center, Ltd. seeks approval from the U.S. Bankruptcy Court for the Central District of Illinois to employ Sikich LLC as accountant. The firm will prepare the Debtor's outstanding income tax returns and provide general accounting services, including but not limited to advice and assistance with the duties of the Debtor and formulation of a Chapter 11 plan in this case. The hourly rates of the firm's professionals are: Principal $350 Director $350 Senior Manager $300 Manager $275 Senior Accountant $250 Staff Accountant $225 Wade A. Kaesebier, a principal at Sikich, 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: Wade A. Kaesebier Sikich LLC 3051 Hollis Drive, 3rd Floor Springfield, IL 62704 Telephone: (217) 862-1907 About Prairie Eye Center Prairie Eye Center, Ltd. owns and operates the Prairie Eye and LASIK Center, an eye care provider in Springfield, Illinois, offering comprehensive optometry services, including eye exams, LASIK procedures, and emergency care. Led by Dr. Sandra Yeh, the Center is committed to providing personalized, professional care with a focus on patient comfort and education. The Center also offers vision financing options and works with insurance providers to ensure access to quality eye health and vision care. Prairie Eye Center filed its voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. C.D. Ill. Case No. 25-70105). In the petition signed by Sandra W. Yeh, M.D., bankruptcy representative, the Debtor disclosed up to $1 million in assets and up to $10 million in liabilities. Judge Mary P. Gorman oversees the case. The Debtor tapped Sumner A. Bourne, Esq., at Rafool & Bourne, PC as counsel and Sikich LLC as accountant. PRINCE LAND: Case Summary & 15 Unsecured Creditors -------------------------------------------------- Debtor: Prince Land Inc. 2654 SE Willoughby Blvd Stuart, FL 34994 Business Description: Prince Land Inc. provides site development and general contracting services, including demolition, earthwork, underground utilities, concrete work, and pavement striping. It operates in Florida, primarily serving commercial, residential, and industrial projects. Chapter 11 Petition Date: August 1, 2025 Court: United States Bankruptcy Court Southern District of Florida Case No.: 25-18992 Judge: Hon. Erik P Kimball Debtor's Counsel: Craig I. Kelley, Esq. KELLEY KAPLAN & ELLER, PLLC 1665 Palm Beach Lakes Blvd The Forum - Suite 1000 West Palm Beach, FL 33401 Tel: 561-491-1200 E-mail: craig@kelleylawoffice.com Total Assets: $3,771,595 Total Liabilities: $12,201,095 Bruce Prince signed the petition as president. A full-text copy of the petition, which includes a list of the Debtor's 15 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/J3LMJTQ/Prince_Land_Inc__flsbke-25-18992__0001.0.pdf?mcid=tGE4TAMA PROFESSIONAL DIVERSITY: Names Xun Wu as CEO, Expands Board to Seven ------------------------------------------------------------------- Professional Diversity Network, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Board of Directors took the following actions: (i) accepted the resignation of Mr. Adam He as Chief Executive Officer; (ii) appointed Mr. Xun Wu as the new Chief Executive Officer; (iii) increased the size of the Board from five (5) to seven (7) directors; and (iv) appointed Ms. Haixia Lu as a new independent director to fill one of the newly created vacancies. I. Resignation of Principal Executive Officer On June 6, 2025, Mr. Adam He notified the Board of his decision to resign from the position of Chief Executive Officer of the Company, effective upon the Board's election of a new CEO. The Company understands that Mr. He's decision to resign was not the result of any disagreement with the Company on any matter relating to the Company's operations, policies, or practices. The Board expressed its gratitude for his service. II. Appointment of New Principal Executive Officer On July 19, 2025, the Board appointed Mr. Xun Wu as the Company's Chief Executive Officer, effective as of July 22, 2025. Mr. Wu, age 65, brings extensive experience in management and editorial leadership. Since 2011, he has served as the Chief Editor at Wenzhou News Media Center, where he led the entire editorial team, developed editorial policies, and managed major projects. Prior to this, he was an Editor at the same organization from 1995 to 2011, responsible for daily news content, layout design, and maintaining high editorial standards. Mr. Wu began his career as a Typesetting & Printing Technician at Wenzhou Daily Printing Factory. He holds a Bachelor's Degree in Chinese Language and Literature from Wenzhou Normal University and received advanced professional training in electronic publishing systems from Peking University. There is no arrangement or understanding between Mr. Wu and any other person pursuant to which he was selected as an officer of the Company, and there is no family relationship between Mr. Wu and any of the Company's other directors or executive officers. Since the beginning of the Company's last fiscal year, there have been no transactions, and there are no currently proposed transactions, in which the Company was or is to be a participant and in which Mr. Wu had or will have a direct or indirect material interest that would be required to be reported under Item 404(a) of Regulation S-K. In connection with the appointment, on July 22, 2025, the Company entered into an employment agreement with Mr. Wu (the "Employment Agreement"). The material terms of the Employment Agreement are summarized as follows: Term: 12 months commencing July 22, 2025, unless terminated earlier pursuant to the Employment Agreement Base Salary: shares of common stock of the Company with an aggregate fair market value of $100,000 USD per year, as determined on the date of each grant Annual Bonus: no additional annual bonus specified apart from the base salary in shares Equity Awards: no additional equity awards specified apart from the base salary in shares Severance: if upon termination without cause: payment of earned but unpaid base salary prior to termination; if Upon termination due to change of control: (1) a lump sum cash payment equal to 12 months of base salary, (2) a lump sum cash payment equal to a pro-rated target annual bonus for the year prior to termination, (3) as applicable, immediate vesting of 100% of unvested outstanding equity awards. III. Increase in Board Size and Appointment of New Director On July 19, 2025, upon the recommendation of the Company's Nominating and Governance Committee, the Board of Directors increased the authorized number of directors from five (5) to seven (7) and appointed Ms. Haixia Lu to fill one of the resulting vacancies, effective immediately. The Board has affirmatively determined that Ms. Lu qualifies as an independent director under the listing standards of the Nasdaq Stock Market. Ms. Lu, age 32, currently serves as a Project Management Specialist and Head of the Health Education Unit at Novartis Pharmaceuticals, a position she has held since January 2020. In this role, she leads cross-functional teams to deliver patient-focused health programs, manages project timelines and budgets, and develops health education content. Previously, Ms. Lu worked as a Public Health Administration Specialist at Wuhan First Hospital and Wuhan University People's Hospital. Ms. Lu earned a Bachelor's Degree in Public Health Administration and a dual degree in Accounting from Wuhan University of Science and Technology, providing her with valuable expertise in both public health and financial matters. The committee assignments for Ms. Lu have not been determined at this time. In accordance with Instruction 2 to Item 5.02 of Form 8-K, the Company will file an amendment to this Current Report on Form 8-K to disclose Ms. Lu's committee appointments within four business days after such information is determined. There is no arrangement or understanding between Ms. Lu and any other person pursuant to which she was selected as a director. There are no family relationships between Ms. Lu and any director or executive officer of the Company. Since the beginning of the Company's last fiscal year, there have been no transactions, and there are no currently proposed transactions, in which the Company was or is to be a participant and in which Ms. Lu or any member of her immediate family had or will have a direct or indirect material interest that would be required to be reported under Item 404(a) of Regulation S-K. In connection with her appointment, on July 22, 2025, Ms. Lu entered into an Independent Director Service Agreement (the "Director Agreement") and the Company's standard form of indemnification agreement for its directors. Pursuant to the Company's non-employee director compensation program, as described in the Company's definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on May 1, 2025, Ms. Lu will be entitled to receive: (i) an annual cash retainer of $5,000; (ii) an annual equity award of $25,000 in Restricted Stock Units; and (iii) applicable cash retainers for any committee service to which she may be appointed. About Professional Diversity Headquartered in Chicago, Illinois, Professional Diversity Network, Inc. -- https://www.prodivnet.com/ -- is a global developer and operator of online and in-person networks that provides access to networking, training, educational, and employment opportunities for diverse professionals. The Company operates subsidiaries in the United States, including National Association of Professional Women (NAPW) and its brand, International Association of Women (IAW), which is one of the largest, most recognized networking organizations of professional women in the country, spanning more than 200 industries and professions. Through an online platform and its relationship recruitment affinity groups, the Company provides its employer clients a means to identify and acquire diverse talent and assist them with their efforts to comply with the Equal Employment Opportunity Office of Federal Contract Compliance Program. The Company's mission is to utilize the collective strength of its affiliate companies, members, partners, and unique proprietary platform to be the standard in business diversity recruiting, networking, and professional development for women, minorities, veterans, LGBTQ+, and disabled persons globally. Oak Brook, Illinois-based Sassetti LLC, the Company's auditor since 2022, 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 Dec. 31, 2024, citing that the Company has incurred recurring operating losses, has a significant accumulated deficit, and will need to raise additional funds to meet its obligations and the costs of its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. As of Dec. 31, 2024, Professional Diversity Network had $7,981,801 in total assets, $3,140,897 in total liabilities, and a total stockholders' equity of $4,840,904. PROFESSIONAL MAIL: Employs Country Boys Auction as Auctioneer ------------------------------------------------------------- Professional Mail Services, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina to employ Country Boys Auction & Realty, Inc. to serve as auctioneer in its Chapter 11 case. Country Boys Auction & Realty will provide these services: (a) prepare and conduct an inventory of the property to be sold and report the results to the Debtor; (b) advise the Debtor on the security of the location of the assets and any need for special handling, including securing and changing of locks as needed; (c) assist the Debtor in establishing a location for the sale and any pre-sale storage; (d) assemble assets to be sold, including cleaning, tagging, sorting, and grouping and set up of assets to be sold; (e) provide and post signs; (f) create and distribute sale brochures, including postage expenses; (g) provide all advertising text; (h) provide for a registrar/cashier at the sale; (i) register bidders by name, address, and bidder number; (j) conduct the sale and collect proceeds, and provide for security and site restoration; (k) provide the Debtor with a sale report including bid sheets, bidder registration, accounting of receipts, written pre-sale announcements, and copies of all advertisements and brochures; and (l) perform any other necessary liquidation services for an orderly and complete liquidation. The firm shall be compensated at these fees: -- Real Property: 10% of the first $25,000 and 6% of the balance -- Personal Property (if any): 20% of the first $20,000, 10% of the next $50,000, and 8% of the balance. According to court filings, Country Boys Auction & Realty is a disinterested party under applicable bankruptcy law and is properly licensed, bonded, and insured. The firm can be contacted at: Country Boys Auction & Realty, Inc. 1211 W. Fifth Street Washington, DC 27889 Telephone: (252) 946-6007 About Professional Mail Services Inc. Professional Mail Services Inc. provides billing, printing, and mailing services, offering end-to-end solutions that include First Class mail, direct mail, offset printing, fulfillment, and high-speed laser printing. The company serves clients across various industries and integrates technology with in-house programming to support document management and customer service needs. Professional Mail Services Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 25-02371) on June 23, 2025. In its petition, the Debtor reports total assets of $1,412,148 and total liabilities of $7,299,380. Honorable Bankruptcy Judge Pamela W. McAfee handles the case. The Debtor is represented by Danny Bradford, Esq., at Bradford Law Offices. RAFTER H FARM: Gets OK to Use Cash Collateral Until Oct. 31 ----------------------------------------------------------- Rafter H Farm and Ranch, LLC received another extension from the U.S. Bankruptcy Court for the Northern District of Texas, Abilene Division, to use cash collateral. The court's order extended the Debtor's interim use of cash collateral until October 31 to pay operating expenses in accordance with its budget. As of the petition date, the Debtor's cash collateral consisted of $37,000 in cash deposits and $575,260 in accounts receivable. The secured creditors with claims against the cash collateral include the U.S. Small Business Administration, FBN Finance, LLC, Libertas Funding, LLC, United First, LLC, and Midwest Regional Bank. As adequate protection for any diminution in value of their cash collateral, the secured creditors will receive a replacement lien on post-petition assets similar to their pre-bankruptcy collateral. As further protection, SBA and FBN Finance will receive monthly payments of $1,017 and $10,000, respectively, starting on August 15. The Debtor's authority to use cash collateral terminates on October 31 or upon dismissal or conversion of the Debtor's Chapter 11 case; the appointment or election of a trustee (other than the Subchapter V trustee) or examiner with expanded powers; the effective date or consummation date of a plan of reorganization; the use of cash collateral contrary to the terms of the interim order; or the entry of an order of the court reversing, staying, vacating or otherwise modifying in any material respect the terms of the interim order. About Rafter H Farm and Ranch Rafter H Farm and Ranch, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-10112-bwo11) on June 11, 2025. In the petition signed by Sam Hemphill, managing member, the Debtor disclosed up to $1 million in assets and up to $10 million in liabilities. Judge Brad W. Odell oversees the case. Joseph Fredrick Postnikoff, Esq., at Rochelle McCullough, LLP, represents the Debtor as legal counsel. FBN Finance, LLC, as secured creditor, is represented by: Jason P. Kathman, Esq. Laurie N. Patton, Esq. Spencer Fane, LLP 5700 Granite Parkway, Suite 650 Plano, TX 75024 Phone: (972) 324-0300 Fax: (972) 324-0301 jkathman@spencerfane.com lpatton@spencerfane.com United First, LLC, as secured creditor, is represented by: Broocks Wilson, Esq. Wilson, PLLC 708 Main Street, 10th Floor Houston, TX 77002 Phone: 713-320-8690 mack@wilson-pllc.com Midwest Regional Bank, as secured creditor, is represented by: James W. Brewer, Esq. Kemp Smith, LLP P.O. Box 2800 El Paso, TX 79999-2800 Phone: 915.533.4424 Fax: 915.546.5360 James.brewer@kempsmith.com jim.brewer@kempsmith.com RAS DATA: Voluntary Chapter 11 Case Summary ------------------------------------------- Debtor: RAS Data Services, Inc. 1510 Plainfield Rd., Suite 3 Darien, IL 60561 Business Description: RAS Data Services Inc. provides railcar management services across the United States, integrating mechanical and accounting functions with internet-based applications and 24/7 support to optimize maintenance costs and fleet utilization. Founded in 2002, the Company manages approximately 500,000 railcars for shippers, operating lessors, utilities and short-line railroads. Chapter 11 Petition Date: August 1, 2025 Court: United States Bankruptcy Court Northern District of Illinois Case No.: 25-11837 Judge: Hon. Michael B Slade Debtor's Counsel: Adam P. Silverman, Esq. ADELMAN & GETTLEMAN, LTD. 53 West Jackson Boulevard Suite 1050 Chicago, IL 60604 Tel: 312-435-1050 Fax: 312-435-1059 E-mail: asilverman@ag-ltd.com Estimated Assets: $10 million to $10 million Estimated Liabilities: $10 million to $50 million The petition was signed by Sandor Jacobson as chief restructuring 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/AFYEMFA/RAS_Data_Services_Inc__ilnbke-25-11837__0001.0.pdf?mcid=tGE4TAMA RAVI GI: Examiner Hires Bernstein-Burkley as Special Counsel ------------------------------------------------------------ James Fellin, the examiner appointed in the Chapter 11 case of Ravi GI Associates PA LLP, seeks approval from the U.S. Bankruptcy Court for the Western District of Pennsylvania to employ Bernstein-Burkley, PC as special counsel. The firm will assist the examiner and provide legal advice with respect to investigation, discovery, and related concerns arising under the U.S. Bankruptcy Code. John Richardson, Esq., an attorney at Bernstein-Burkley, will be paid at his discounted hourly rate of $400. Mr. Richardson 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: John J. Richardson, Esq. Bernstein-Burkley, P.C. 601 Grant Street, 9th Floor Pittsburgh, PA 15219 Telephone: (412) 456-8100 Facsimile: (412) 456-8135 Email: jrichardson@bernsteinlaw.com About Ravi GI Associates PA Ravi GI Associates PA, LLP operates as a healthcare provider in Monroeville, Pa. Ravi sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Pa. Case No. 25-20012) on January 3, 2025. In its petition, the Debtor reported assets between $100,000 and $500,000 and liabilities between $1 million and $10 million. Donald R. Calaiaro, Esq., at Calaiaro Valencik represents the Debtor as legal counsel. James S. Fellin is appointed as examiner in this Chapter 11 case. The examiner tapped Bernstein-Burkley, PC as special counsel. RED DOOR PIZZA: Gets Interim OK to Use Cash Collateral ------------------------------------------------------ The U.S. Bankruptcy Court for the District of South Carolina granted Red Door Pizza, LLC interim authority to use the cash collateral of its secured creditors. The Debtor lacks sufficient assets to operate and needs to use its cash collateral to preserve business operations. The court's interim order authorized the Debtor to use cash collateral until August 13 to pay the expenses in accordance with its budget. Numerous merchant cash advance (MCA) creditors may have an interest in the cash collateral. As adequate protection, these secured creditors will be granted replacement liens on cash collateral generated after the Debtor's Chapter 11 filing, with the same validity, priority and extent as their pre-bankruptcy liens. The final hearing is scheduled for August 13. The deadline for filing objections is on August 7. About Red Door Pizza LLC Red Door Pizza LLC perates in the restaurant industry, specializing in pizzas made with fresh ingredients and cooked in wood-fired ovens. It is 100% owned by Red Door Brands, LLC, a company that manages multiple fast-casual and quick-service dining concepts across the Southeastern United States. Red Door Pizza LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.S.C. Case No.: 25-02701) on July 15, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. The Debtor is represented by: Christine E. Brimm, Esq. Barton Brimm, PA Tel: 803-256-6582 Email: cbrimm@bartonbrimm.com RED DOOR SANDWICH: Gets Interim OK to Use Cash Collateral --------------------------------------------------------- Red Door Sandwich, LLC got the green light from the U.S. Bankruptcy Court for the District of South Carolina to use cash collateral. The court's order authorized the Debtor's interim use of cash collateral until August 13 to pay the expenses set forth in its budget, which projects total operational expenses of $2,648,151. Numerous merchant cash advance (MCA) creditors may have an interest in the cash collateral. As adequate protection for any diminution in the value of their cash collateral, these secured creditors will be granted replacement liens on post-petition cash collateral, with the same validity, priority and extent as their pre-bankruptcy liens. The final hearing is scheduled for August 13. Objections are due by August 7. About Red Door Sandwich LLC Red Door Sandwich, LLC operates restaurant franchises and is a subsidiary of Red Door Brands, a company based in Greenville, South Carolina. It manages multiple food service concepts across the Southeastern United States. Red Door Sandwich sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.S.C. Case No. 25-02700) on July 15, 2025. In its petition, the Debtor reported estimated assts and liabilities between $1 million and $10 million. The petition was signed by Argus Wiley as manager. The Debtor is represented by: Christine E. Brimm, Esq. Barton Brimm, PA Tel: 803-256-6582 Email: cbrimm@bartonbrimm.com RED ROCK MEGA: Inks Deal to Use Lender's Cash Collateral -------------------------------------------------------- Red Rock Mega Storage, LLC signed a stipulation with the trustees of The Rodney Family Trust, which provides for its use of the lender's cash collateral. Under the stipulation, the trustees consented to the Debtor's use of the cash collateral of Rodney Family Trust to pay the expenses related to the operation and maintenance of the Debtor's real properties in Reno, Nevada. This cash collateral consists of rents collected from the properties. The trustees also agreed to the Debtor retaining a $10,000 reserve for emergency repairs to the properties. As adequate protection for any diminution in value of its cash collateral, Rodney Family Trust will be granted a valid and perfected replacement lien on all of the Debtor's real and personal property, including those acquired after its Chapter 11 filing. The replacement lien does not apply to any Chapter 5 causes of action. As further protection, Rodney Family Trust will receive a monthly payment from the net income generated by the properties starting on August 10 and until the occurrence of so-called termination events. This monthly payment is in addition to the Debtor's payment of actual monthly operating expenses required to maintain the properties. Termination events include the Debtor's failure to make the adequate protection payments or perform its obligation under the stipulation; the cessation of the Debtor's operations; the dismissal or conversion of the Debtor's bankruptcy case; and entry of a court order granting other holders of security interest relief from the automatic stay to permit foreclosure of the lender's collateral. The Debtor was previously authorized to use the lender's cash collateral and make an adequate protection payment of $24,000 to the lender pursuant to the court's July 25 interim order. This interim authorization expired on August 4. About Red Rock Mega Storage Red Rock Mega Storage, LLC operates a storage facility offering a range of unit sizes, including climate-controlled spaces and enclosed units for RV and boat storage. It serves customers in Reno, Nevada, with 24/7 access and on-site amenities. Red Rock Mega Storage sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Nev. Case No. 25-50549) on June 17, 2025. In its petition, the Debtor reported between $10 million and $50 million in assets and liabilities. Judge Hilary L. Barnes oversees the case. Kevin A. Darby, Esq., at Darby Law Practice, Ltd is the Debtor's bankruptcy counsel. Rodney Family Trust, as lender, is represented by: Amy N. Tirre, Esq. Law Offices of Amy N. Tirre, A Professional Corporation 1495 Ridgeview Drive, Suite 90 Reno, NV 89519 Telephone: (775) 828-0909 Facsimile: (775) 828-0914 amy@amytirrelaw.com; admin@amytirrelaw.com RICHMOND BELLY: Gets Extension to Access Cash Collateral -------------------------------------------------------- Richmond Belly Ventures, LLC and its affiliates received second interim approval from the U.S. Bankruptcy Court for the Eastern District of Virginia, Richmond Division, to use cash collateral. The court's order authorized the Debtors' interim use of cash collateral to pay operating expenses in accordance with their budget. As protection for the use of their cash collateral, secured creditors including Blue Ridge Bank, N.A. and the U.S. Small Business Administration were granted a replacement lien on cash collateral generated by the Debtors after the petition date. As further protection, the secured creditors will receive monthly payments as laid out in the budget. Blue Ridge Bank will receive a monthly payment of $3,000 from the cash collateral of Scotts Belly Ventures, LLC, one of the affiliated debtors. The next hearing is scheduled for August 13. Richmond Belly Ventures has SBA Economic Injury and Disaster Loans totaling nearly $495,100 while Scotts Belly Ventures owes Blue Ridge Bank approximately $116,600 on a loan originally for $525,000. Meanwhile, certain merchant cash advance (MCA) creditors may hold liens but the Debtors do not acknowledge the validity of such liens. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/BEWBz from PacerMonitor.com. About Richmond Belly Ventures Richmond Belly Ventures, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 25-32131) on May 29, 2025, listing up to $500,000 in assets and up to $1 million in liabilities. John Bokel, managing member of Richmond Belly Ventures, signed the petition. Judge Hon. Keith L Phillips oversees the case. Kollin G. Bender, Esq., at Hirschler Fleischer, P.C., is the Debtor's legal counsel. Blue Ridge Bank, N.A. is represented by: Jeremy S. Williams, Esq. Kutak Rock, LLP 1021 East Cary Street, Suite 810 Richmond, VA 23219 Telephone: (804) 644-1700 Facsimile: (804) 783-6192 jeremy.williams@kutakrock.com RIO DEL PILAR: Case Summary & Six Unsecured Creditors ----------------------------------------------------- Debtor: Rio Del Pilar, LLC 720 Dinsmore Ranch Road Rio Dell, CA 95562 Business Description: Rio Del Pilar, LLC owns and manages an agricultural parcel in Rio Dell, California. The property comprises pastureland zoned for livestock production and a triplex with two three-bedroom units and a studio. Chapter 11 Petition Date: July 31, 2025 Court: United States Bankruptcy Court Northern District of California Case No.: 25-10467 Debtor's Counsel: Andy Warshaw, Esq. DIMARCO WARSHAW, APLC PO Box 704 San Clemente, CA 92674 Tel: (949) 345-1455 E-mail: andy@dimarcowarshaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $500,000 to $1 million The petition was signed by Christopher Cortazar as special manager. A full-text copy of the petition, which includes a list of the Debtor's six unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/SEOTCSQ/Rio_Del_Pilar_LLC__canbke-25-10467__0001.0.pdf?mcid=tGE4TAMA RITE AID CORP: Files $90MM Bankruptcy Clawback Suit vs. McKeeson ---------------------------------------------------------------- Alex Wolf of Bloomberg Law reports that Rite Aid has filed a lawsuit against McKesson Corp., its largest drug supplier, seeking to recover approximately $90 million in payments made shortly before the pharmacy chain's Chapter 11 bankruptcy. In an August 1, 2025 complaint filed in the US Bankruptcy Court for the District of New Jersey, Rite Aid alleged that three "preferential" transfers to McKesson during the 90 days preceding its early May bankruptcy should be reversed. The company argued the payments were unusual, outside the ordinary course of business, and made under pressure to preserve a critical supplier relationship. About Rite Aid Rite Aid is a full-service pharmacy committed to improving health outcomes. Rite Aid is defining the modern pharmacy by meeting customer needs with a wide range of solutions that offer convenience, including retail and delivery pharmacy, as well as services offered through the Company's wholly owned subsidiary Bartell Drugs. On the Web: http://www.riteaid.com/ Rite Aid and certain of its subsidiaries previously filed for Chapter 11 bankruptcy in October 2023 and emerged from bankruptcy in August 2024. On May 5, 2025, New Rite Aid, LLC and its subsidiaries, including Rite Aid Corporation, commenced voluntary Chapter 11 proceedings (Bankr. D.N.J. Lead Case No. 25-14861). As of the 2025 bankruptcy filing date, Rite Aid operates 1,277 stores and 3 distribution centers in 15 states and employs approximately 24,500 people. Rite Aid is using the Chapter 11 process to pursue a sale of its prescriptions, pharmacy and front-end inventory, and other assets. The cases are being administered by the Honorable Michael B. Kaplan. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor, Guggenheim Securities, LLC is serving as investment banker, and Alvarez & Marsal is serving as financial advisor to the Debtors. Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor to the Debtors. Kroll is the claims agent and maintains the page https://restructuring.ra.kroll.com/RiteAid2025 Bank of America, N.A., as DIP Agent, is represented by lawyers at Greenberg Traurig, LLP; and Choate Hall & Stewart LLP. ROCKY MOUNTAIN: Transfers Listing to Nasdaq Capital Market ---------------------------------------------------------- Rocky Mountain Chocolate Factory, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that Nasdaq had approved the Company's voluntary application to transfer its listing from The Nasdaq Global Market to The Nasdaq Capital Market, effective at the opening of trading on July 24, 2025. The Company's common stock continues to trade under the symbol "RMCF." The Nasdaq Capital Market is a continuous trading market that operates in substantially the same manner as The Nasdaq Global Market. On January 21, 2025, the Company was notified by the Nasdaq Stock Market LLC that the Company was not in compliance with the minimum stockholders' equity requirement for continued listing on The Nasdaq Global Market under Nasdaq Listing Rule 5450(b)(1)(A). The Rule requires companies listed on The Nasdaq Global Market to maintain stockholders' equity of at least $10,000,000. About Rocky Mountain Chocolate Factory Durango, Colo.-based Rocky Mountain Chocolate Factory, Inc. is an international franchisor, confectionery producer, and retail operator. Founded in 1981, the Company produces an extensive line of premium chocolate candies and other confectionery products. New York, N.Y.-based CohnReznick LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated June 20, 2025, attached to the Company's Annual Report on Form 10-K for the year ended February 29, 2025, citing that the Company has incurred recurring losses and negative cash flows from operations in recent years and is dependent on debt financing to fund its operations, all of which raise substantial doubt about the Company's ability to continue as a going concern. ROGUE SMOOTHIES: Gets OK to Use $439K in Cash Collateral -------------------------------------------------------- The U.S. Bankruptcy Court for the District of Oregon granted Rogue Smoothies, Inc. final approval to use cash collateral. The final order authorized the Debtor to use up to $439,632 in cash collateral (split between its North and South store operations) from August 1 to December 31 to pay the expenses set forth in its budget. The Debtor identifies United Community Bank as a secured creditor via a 2022 blanket UCC-1 filing. No other lienholders are known. The final order granted United Community Bank replacement liens on post-petition property with the same priority as its pre-bankruptcy liens. The replacement liens do not apply to any Chapter 5 avoidance actions. Absent further order of the court, the Debtor's authority to use cash collateral will terminate on December 31 or upon the occurrence of so-called events of default, including violation of the final order; the dismissal or conversion of the Debtor's Chapter 11 case; the appointment of a trustee and the termination, lapse, expiration or reduction of insurance coverage on the collateral. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/9b1Z2 from PacerMonitor.com. About Rogue Smoothies Inc. Rogue Smoothies Inc., doing business as Auntie Anne's and Jamba Juice, operates franchise locations of Jamba and Auntie Anne's in Medford, Oregon. It provides smoothies, juices, fruit bowls, and baked pretzel products through its retail outlets. Rogue Smoothies sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Or. Case No. 25-61778) on June 25, 2025. In its petition, the Debtor reported estimated assets between $1 million and $10 million and estimated liabilities between $500,000 and $1 million. Judge Thomas M. Renn handles the case. Keith Y. Boyd, Esq., at Keith Y. Boyd, P.C. is the Debtor's legal counsel. United Community Bank is represented by: Eleanor A. DuBay, Esq. Tomasi Bragar DuBay 121 SW Morrison St, Suite 1850 Portland, OR 97204 Phone: (503) 894-9900 edubay@tomasilegal.com SCCY INDUSTRIES: Seeks Chapter 11 Bankruptcy in Florida ------------------------------------------------------- On August 1, 2025, SCCY Industries LLC filed Chapter 11 protection in the Middle District of Florida. 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 SCCY Industries LLC SCCY Industries LLC manufactured affordably priced polymer-frame pistols for the civilian market. Operating out of Daytona Beach, Florida, the Company specialized in models such as the CPX and DVG series, with in-house production and a focus on personal defense firearms. SCCY Industries LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-04877) on August 1, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Grace E. Robson handles the case. The Debtor is represented by Justin M. Luna, Esq. at Latham, Luna, Eden & Beaudine, LLP. SCILEX HOLDING: Amends Merger Terms for Semnur–Denali Agreement ----------------------------------------------------------------- As previously disclosed by Scilex Holding Company, Semnur Pharmaceuticals, Inc., a Delaware corporation and wholly owned subsidiary of the Company, entered into an agreement and plan of merger (as amended by Amendment No. 1 to the Agreement and Plan of Merger, dated April 16, 2025, the "Merger Agreement") with Denali Capital Acquisition Corp., a Cayman Islands exempted company, and Denali Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of Denali, pursuant to which, among other things, Merger Sub will merge with and into Semnur with Semnur surviving the merger as a wholly owned subsidiary of Denali. On July 22, 2025, Semnur entered into Amendment No. 2 to the Merger Agreement with Denali and Merger Sub. Amendment No. 2 amends the Merger Agreement to, among other things, modify the definitions of the "Exchange Ratio" and "Merger Consideration" to facilitate the issuance of additional shares of common stock of Semnur prior to the closing of the Business Combination in connection with any potential private placement financing or for issuance to advisors and other service providers for services rendered and maintain the 1.25-to-1 exchange ratio. 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. SCILEX HOLDING: Inks $100M Equity Purchase Deal With Tumim Stone ---------------------------------------------------------------- Scilex Holding Company disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company entered into a Common Stock Purchase Agreement with Tumim Stone Capital, LLC, a Delaware limited liability company. Pursuant to the Purchase Agreement, the Company has the right, but not the obligation, to sell to the Investor up to the lesser of: (a) $100,000,000 of newly issued shares of the Company's common stock, par value $0.0001 per share, and (b) the Exchange Cap, from time to time, at the Company's sole discretion (each such sale, a "VWAP Purchase") by delivering an irrevocable written notice to the Investor (each such notice, a "VWAP Purchase Notice"). The Company shall be permitted to deliver a VWAP Purchase Notice to Investor during the period commencing on the Commencement Date (as defined in the Purchase Agreement) and the date that is the first day of the month following the 24-month anniversary of the date on which the initial Registration Statement has been declared effective by the U.S. Securities and Exchange Commission, subject to the terms and conditions set forth therein, and unless the Purchase Agreement is earlier terminated in accordance with its terms. The shares of Common Stock purchased pursuant to a VWAP Purchase will be purchased at the VWAP Purchase Price, which shall equal: (i) 96% of the lowest daily dollar volume-weighted average price for the Common Stock during the One-Day VWAP Purchase Valuation Period (as defined in the Purchase Agreement) or (ii) 97% of the lowest daily dollar volume-weighted average price for the Common Stock during the Three-Day VWAP Purchase Valuation Period (as defined in the Purchase Agreement), in each case subject to the terms and conditions set forth therein. The maximum number of shares of Common Stock that may be required to be purchased pursuant to a VWAP Purchase Notice will be equal to the lowest of: (a) 100% of the average daily trading volume in the Common Stock over the five consecutive trading day period ending on (and including) the trading day immediately preceding the applicable VWAP Purchase Exercise Date (as defined in the Purchase Agreement) for such VWAP Purchase; (b) the product (rounded up or down to the nearest whole number) obtained by multiplying (x) the daily trading volume in the Common Stock on the applicable VWAP Purchase Exercise Date for such VWAP Purchase by (y) 0.40; and (c) the quotient obtained by dividing (x) $3,000,000 by (y) the volume-weighted average price of the Common Stock on the trading day immediately preceding the applicable VWAP Purchase Exercise Date for such VWAP Purchase (in each case to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction during the applicable period). The Investor's purchases of shares of Common Stock under the Purchase Agreement, if any, will be subject to certain limitations, including that the Investor may not purchase shares that would result in it (together with its affiliates) owning more than 4.99% (or, at the election of the Investor, 9.99%) of the then-issued and outstanding shares of Common Stock. In addition, unless stockholder approval of a waiver of the Exchange Cap is obtained, the Company shall not issue or sell any shares of Common Stock pursuant to the Purchase Agreement, if, after giving effect thereto, the aggregate number of shares of Common Stock that would be issued pursuant to the Purchase Agreement and the transactions contemplated thereby would exceed 1,390,443 (representing 19.99% of the number of shares of Common Stock issued and outstanding immediately prior to the execution of the Purchase Agreement) (such maximum number of shares, the "Exchange Cap"). However, the Exchange Cap shall not be applicable for any purposes of the Purchase Agreement and the transactions contemplated thereby, to the extent that (and only for so long as) the average price of all applicable sales of Common Stock under the Purchase Agreement equals or exceeds $8.09, which is the Minimum Price (as defined in the Purchase Agreement). The Company is under no obligation to seek stockholder approval of a waiver of the Exchange Cap. As consideration for the Investor's commitment to purchase shares of Common Stock, the Company shall issue 150,000 shares of Common Stock to the Investor as a commitment fee upon effectiveness of the Registration Statement. * Registration Rights Agreement In connection with the transactions contemplated by, and concurrently with the execution of, the Purchase Agreement, the Company and the Investor also entered into a Registration Rights Agreement, dated as of July 22, 2025, pursuant to which the Company agreed to file with the SEC one or more registration statements, to register under the Securities Act of 1933, as amended, the offer and resale by the Investor of all of the shares that may be issued by the Company to the Investor from time to time under the Purchase Agreement, including the Commitment Shares. The Investor's obligation to purchase shares of Common Stock pursuant to the Purchase Agreement is subject to such a Registration Statement being filed with the SEC and declared effective. * Warrant Exchange Agreement On July 22, 2025 the Company entered into Warrant Exchange Agreements with certain holders of the Company's existing Tranche B warrants to purchase shares of Common Stock. Pursuant to the Warrant Exchange Agreements, the Company and the Exchanging Warrant Holders, in reliance on Section 3(a)(9) of the Securities Act, effected a voluntary securities exchange whereby the Exchanging Warrant Holders will exchange the Existing Tranche B Warrants, which are currently exercisable for an aggregate of 107,142 shares of Common Stock at an exercise price of $36.40 per share, originally issued pursuant to that certain Securities Purchase Agreement, dated October 7, 2024, by and among the Company and the investors named therein, for warrants to purchase an aggregate of 500,000 shares of Common Stock at an exercise price of $40.00 per share. The New Warrants shall be immediately exercisable, but may only be exercised on a cash basis on or after the earlier of: (i) the date that is 90 days following the Closing Date (as defined in the Warrant Exchange Agreement), and (ii) the initial date after the date of the Warrant Exchange Agreement that a registration statement is effective and available for the issuance of the shares of Common Stock underlying the New Warrants to the holders of the New Warrants (or the resale of shares of Common Stock underlying the New Warrants); provided, however, the New Warrants may only be exercised on a cashless basis if there is no registration statement to cover the issuance of the shares of Common Stock underlying the Warrants or the resale of such shares. The New Warrants shall have an expiration date of October 8, 2029. The terms of the New Warrants are generally identical to the terms of the Existing Tranche B Warrants, other than with respect to the number of shares issuable upon exercise thereof and the Exercise Price and certain other matters. The Exercise Price of the New Warrants is subject to adjustment for any stock split, stock dividend, stock combination, recapitalization or similar event. The Exercise Price is also subject to full-ratchet adjustment (down to the Exercise Price Floor) in connection with a subsequent offering at a per share price less than the exercise price then in effect. The New Warrants also permit a voluntary adjustment to the Exercise Price, subject to certain conditions set forth therein, including compliance with the listing rules of The Nasdaq Stock Market LLC and having obtained the prior written consent of the required holders as described therein. The Exercise Price cannot be lower than $36.40 per share (as adjusted for stock splits, stock dividends, stock combinations, recapitalizations and similar events, the "Exercise Price Floor"), unless shareholder approval is obtained to allow the New Warrants to be exercised at a price lower than the Exercise Price Floor in accordance with the listing rules of Nasdaq. The Company is under no obligation to seek or obtain such shareholder approval. A holder of a New Warrant shall not have the right to exercise any portion of a New Warrant to the extent that, after giving effect to such exercise, the holder (together with certain related parties) would beneficially own in excess of 4.99% (the "Maximum Percentage") of shares of Common Stock outstanding immediately after giving effect to such exercise. The Maximum Percentage may be raised or lowered to any other percentage not in excess of 9.99%, at the option of the holder, except that any increase will only be effective upon 61 days' prior notice to the Company. The New Warrants prohibit the Company from entering into specified fundamental transactions unless the successor entity (subject to certain exceptions) assumes all of the Company's obligations under the New Warrants under a written agreement before the transaction is completed. Upon specified corporate events, a New Warrant holder will thereafter have the right to receive upon an exercise such shares, securities, cash, assets or any other property whatsoever which the holder would have been entitled to receive upon the happening of the applicable corporate event had the New Warrant been exercised immediately prior to the applicable corporate event. When there is a transaction involving specified changes of control, holders of New Warrants will have the right to force the Company to repurchase such holder's New Warrant for a purchase price in cash equal to the Black Scholes value, as calculated under the New Warrants, of the then unexercised portion of the New Warrant. In connection with the transactions described in the Current Report on Form 8-K (available at https://tinyurl.com/4vrdrc3w), the Company has obtained the applicable consents and/or waivers of the holders of the Company's outstanding indebtedness to consummate such transactions. 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. SCILEX HOLDING: Signs Deal to Repurchase Oramed Warrants for $27M ----------------------------------------------------------------- As previously disclosed by Scilex Holding Company, it issued to Oramed Pharmaceuticals Inc., a Delaware corporation, on September 21, 2023, warrants to purchase up to an aggregate of 6,500,000 shares of common stock, par value $0.0001 per share, of the Company at an exercise price of $0.01 per share. On July 22, 2025, the Company entered into an Option Agreement for the Repurchase of Warrants with Oramed, pursuant to which, among other things, Oramed granted an option to the Company to repurchase the Penny Warrants in two tranches for an aggregate purchase price of $27,000,000, subject to the terms and conditions set forth therein. In consideration of the Option, the Company agreed to pay $1,500,000 to Oramed in two equal installments occurring on or before August 8, 2025 and December 16, 2025, respectively. Provided that the Company has made the applicable option payment on or before such dates, the Company shall be entitled to purchase the Penny Warrants as follows: (i) on or before September 30, 2025, it may repurchase 3,130,000 Penny Warrants for $13,000,000 and (ii) on or before December 31, 2025, it may repurchase 3,370,000 Penny Warrants for $14,000,000. Additionally, if the Company effects the Warrant Repurchase and has paid the Option Payment Amount and Warrant Repurchase Amount in full, in accordance with the terms of the Option Agreement, then the maturity date of that certain Senior Secured Promissory Note, dated as of September 21, 2023, by and between the Company and Oramed shall be extended to March 31, 2026 and any make-whole payment due thereunder upon prepayment shall be waived. Oramed shall have the right to terminate the Option Agreement if the Company: (i) fails to make certain payments thereunder or (ii) has not exercised the Option by the applicable dates set forth therein. Pursuant to the terms of the Option Agreement, the Company has agreed that, if the Option Agreement is terminated pursuant to the terms set forth therein, the Company will use commercially reasonable efforts to obtain the approval of its stockholders to permit the issuance of shares of Common Stock in excess of the Stockholder Approval Cap upon exercise of any Penny Warrants retained by Oramed following such termination, subject to the terms and conditions set forth therein. 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. SCOTTS MIRACLE-GRO: S&P Alters Outlook to Pos., Affirms 'B+' ICR ---------------------------------------------------------------- S&P Global Ratings revised its outlook to positive from stable and affirmed all of its ratings, including its 'B+' issuer credit rating on U.S.-based The Scotts Miracle-Gro Co., because S&P believes its S&P Global Ratings-adjusted leverage will improve to 4.2x by end of fiscal 2025 and 3.6x by end of fiscal 2026. The positive outlook reflects the potential for a higher rating over the next 12 months if the company meets our forecast, adequately manages its sizeable seasonal working capital needs, and maintains its financial policy commitment to deleverage. S&P said, "We believe Scotts' improved profitability and the wind down of its excess capacity will support its current deleveraging momentum and it is on track to reduce its S&P Global Ratings-adjusted leverage below 4x by fiscal 2026. For the nine-month period ending June 28, 2025, we estimate the company's adjusted EBITDA grew by about 11% compared with the same period in the prior year, primarily driven by lower raw material, production, and distribution costs. This was partially offset by lower revenue as the company lost lower margin, one-time bulk raw material sales and the partial exit of its Hawthorne business. We project Scotts will end fiscal year 2025 with adjusted leverage of about 4.2x, down from 4.6x as of Sept. 30, 2024. "Despite weaker consumer sentiment affecting spending and volumes in the broader consumer products sector, we note Scotts has been able to grow its U.S. lawn and garden organic volumes over the past several quarters. This is primarily because of higher promotional activity, which has helped drive strong point of sale (POS) trends in the segment (about 8% POS category unit growth for the nine months ended June 28, 2025). Further, the company continues to steadily invest in growing its e-commerce business. This business, which also includes sales via retailers' websites, has grown to about 10% of total U.S. Consumer segment POS in 2025 from about 2% pre-pandemic. We expect this will partly offset the effect of potentially weaker foot traffic in key home improvement retail stores, while allowing the company to remain engaged with its customers." Full separation of the Hawthorne (hydroponics) business is a credit positive as it reduces earnings volatility and risks associated with the cannabis industry, while allowing the company to focus on its core--albeit low growth--consumer business. After several years of underperformance, the company is now on track to fully exit its Hawthorne business following its announcement to exit its low margin third-party business in April 2024 and the transfer of its wholly owned subsidiary, The Hawthorne Collective (THC) Inc., to an independent strategic partner in April 2025. Management expects to close the separation of the rest of its Hawthorne segment by the end of fiscal 2025. S&P said, "While the transaction structure is not finalized, we do not anticipate any cash proceeds to Scotts from the separation, and it will be similar to the THC transfer, for which the company received interest-bearing promissory notes with an option to reacquire the business or its assets if the cannabis industry recovers. That said, we expect the full separation will allow management to focus on growing its more stable and profitable consumer business." S&P said, "We expect gross margin will continue to recover in fiscal 2026 but remain below pre-pandemic levels. This follows weak performance over the past few years because of several headwinds including a significant decline in retailer orders and consumer demand (after the large pandemic-related increase), substantial inflation and restructuring-related costs, unfavorable weather conditions, and disruptions in the hydroponics business. Our base case assumes the company will be able to maintain better margins with support from cost cuts, better product mix following the Hawthorne sale, and continued productivity improvements. Management estimates $75 million of early-stage supply chain related cost cuts in fiscal 2025 and an additional $75 million cumulative in 2026 and 2027, partially offset by cash restructuring costs, which we do not add back to our adjusted EBITDA calculations. "Key risks to our forecasts include higher input cost inflation, particularly on key commodities. The company has locked in pricing for a portion of its fiscal 2026 urea needs, and we expect it will layer on additional hedges for its other 2026 commodity requirements (including diesel and resin) over the rest of fiscal 2025, consistent with its policy. However, a sizable portion remains unhedged, so a material rise in costs could erode profits. Further, we believe tariffs will be a headwind in fiscal 2026, but Scotts will be able to offset the majority of the impact primarily via pricing actions and therefore it will not materially affect its margins. Tariffs will affect its indoor lighting business, which operates under the already-depressed Hawthorne segment, and its controls business, both of which rely on imports from suppliers based in China for components and accessories. "We expect Scotts will remain committed to its company-reported net leverage target of 3x-3.5x. We forecast the company will remain focused on deleveraging, primarily through profit growth and debt reduction, resulting in company-reported net leverage of about 3.9x by the end of fiscal 2026 (compared with about 3.6x on an S&P Global Ratings-adjusted basis, which includes debt and EBITDA adjustments for lease liabilities and accounts receivable facility financing). We believe management will remain disciplined in capital allocation and shareholder distributions (aside from its existing dividend policy) or pursuing debt-funded acquisitions that could impede its deleveraging progress, at least until the company achieves its reported net leverage target, which we estimate will occur in fiscal 2027. "We continue to assess Scotts' liquidity as less than adequate. Reinforcing our view is the company's heavy seasonal working capital requirements (we estimate about $950 million during the peak lawn and garden season), its reliance on the uncommitted off-balance sheet master receivables purchase agreement (MRPA) to fund a major portion of its seasonal working capital needs (we do not include availability on the MRPA as a liquidity source given it is an uncommitted facility), and limited availability on the revolver, which is restricted by a leverage covenant that steps down. We estimate low-point revolver availability in 2026 could be about $400 million. However, Scotts has historically been able to draw on the MRPA facility to fund most of its seasonal working capital needs and successfully renew it every year. Further, we assume the company will successfully refinance its bank credit facilities, consisting of a $1.25 billion revolving credit facility and a $1 billion term loan facility ($587.5 million outstanding as of June 28, 2025), before they become current in April 2027. "The positive outlook reflects the possibility that we could raise our ratings on Scotts over the next 12 months if the company maintains the positive momentum in its consumer business and successfully separates its Hawthorne segment, while improving leverage to below 4x. We expect the company will adequately manage its sizeable seasonal working capital needs and generate solid positive free operating cash flow (FOCF) upward of $200 million in fiscal 2025 and 2026." S&P could revise its outlook to stable if it expects Scotts will sustain S&P Global Ratings-adjusted leverage above 4x. This could occur if there is: -- Weaker-than-expected ordering in fiscal 2026 if retailers experience lower foot traffic resulting in reduced consumer takeaway; -- High and volatile input costs, which the company cannot quickly pass through to customers; -- Poor weather conditions in the key lawn and garden seasons; or -- Escalating competition. Further, S&P could take a negative rating action if it projects the company's liquidity position will tighten, especially during its inventory build-up period, or if the company adopts more aggressive financial policies by executing large share repurchases or acquisitions. S&P could raise its rating if Scotts reduces its S&P Global Ratings-adjusted leverage below 4x on a sustained basis. This could occur if: -- It continues to exhibit sustained EBITDA growth and improved margins; -- Economic conditions improve, promoting higher consumer takeaway and retailer inventory stocking; -- Scotts can offset potential headwinds related to tariffs, high inflation, or supply chain bottlenecks with effective hedging and pricing; and -- Financial policy continues to target company-defined net leverage of 3x to 3.5x. Alternatively, S&P could also raise the rating if the company sustains adjusted leverage between 4x and 5x, and S&P revises its liquidity assessment to adequate. SHIVANI CORP: Unsecureds Will Get 1.50% of Claims in Plan --------------------------------------------------------- Shivani Corp. filed with the U.S. Bankruptcy Court for the Western District of Virginia a Plan of Reorganization for Small Business. The Debtor is a Virginia stock corporation with the following shareholders each holding 50% of the stock: Paresh Suthar and Chhaya Suthar. The Debtor's headquarters are located at 2385 Riverside Drive, Danville, Virginia 24540. The Debtor owns and operates a hotel at 2385 Riverside Dr., Danville, Virginia 24540, under the brand of Super 8 (the "Hotel"), with typically ten employees, including the two shareholders of the Debtor. The Hotel is a three-story, 57-room, economy hotel that originally opened in 1989 before it was purchased by the Debtor in 2011. The Debtor's prepetition financial problems started with the incurrence of expensive loans and "merchant cash advance" financing facilities that were incurred on or about June of 2023, and thereafter. The requirements of the WBL Loan, including its 0.098630137 percent daily interest rate and weekly payment obligations, proved to be even more problematic for the Debtor than the MCA obligations, and the Debtor was unable to maintain the payments required under the WBL Loan. Ultimately WBL proceeded to schedule a foreclosure sale of the Hotel property, and the Debtor responded with the filing of this Case. Through the filing of this Case, the Debtor seeks to reorganize under the provisions of the Bankruptcy Code such that it may continue to operate, provide services, employ its workers, and provide for its creditors. The Debtor has thus far and will continue to work closely with the Subchapter V Trustee in order hopefully to achieve a consensual plan that will reorganize and restructure its debt. This Plan of Reorganization proposes to pay creditors of the Debtor from the Debtor's cash. Non-priority unsecured creditors holding allowed claims will receive distributions, which the proponent of this Plan has valued at approximately 1.50 cents on the dollar. This Plan also provides for the payment of administrative and priority claims. From the income of the Debtor, the following will be paid in accordance with Articles 3 and 4 of this Plan: * Allowed administrative claims will be paid in full; * Allowed priority claims will be paid their claim amounts with interest at the statutory rates mandated by Section 511 of the Code; * Allowed secured claims will be paid in full with interest at the Plan Rate of Interest; * The holders of general unsecured creditors in Class 4 will receive approximately 1.50% of their allowed claims, estimated to be total of $45,000.00 to be distributed, pro rata, to the Class as a whole, with distributions to such allowed claim holders to be made on or before the three-year anniversary of the Effective Date. Class 4 consists of Non-priority unsecured creditors. The GUC Distribution Amount will be paid by the Debtor to holders of allowed Class 4 claims. Holders of allowed general unsecured claims will receive their pro rata share of the GUC Distribution Amount on or before the third-year anniversary of the Effective Date. This Class is impaired. As allowed under the Bankruptcy Code, Equity Security of the Debtor shall thereafter hold the Equity Security of the Reorganized Debtor. The Debtor projects that it will be able to afford the payments proposed herein based on the income it will receive from its Hotel operations. A full-text copy of the Plan of Reorganization dated July 28, 2025 is available at https://urlcurt.com/u?l=cmojk4 from PacerMonitor.com at no charge. About Shivani Corp. Shivani Corp. owns and operates a hotel at 2385 Riverside Dr., Danville, Virginia 24540, under the brand of Super 8 (the "Hotel"). The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Va. Case No. 25-60511) on April 29, 2025, listing between $1 million and $10 million in both assets and liabilities. Judge Paul M. Black oversees the case. The Debtor is represented by: H. David Cox, Esq. Cox Law Group, PLLC Tel: 434-845-2600 ecf@coxlawgroup.com SLEEP FIT: Seeks Chapter 7 Bankruptcy, Closes 15 Retail Stores -------------------------------------------------------------- Gabriel Dillard of The Business Journal reports that Fresno-based Mattress Land has ceased operations, resulting in the liquidation and closure of 15 retail stores across the western United States. Founded in 1996, the retailer expanded into four states before its parent company, The Sleep Fit Corp., filed for Chapter 7 bankruptcy protection on July 17, 2025. According to longtime employees posting on social media, all stores shut down at the end of June, according to The Business Journal. Sleep Fit Corp.'s Fresno location at 36 E. Herndon Ave. served as both its headquarters and a retail store. Other California locations included Clovis, Visalia, Bakersfield, Merced, Atascadero, and San Luis Obispo. In Nevada, stores operated in Carson City, Sparks, and Reno. Mattress Land of WA, Inc. also sought Chapter 7 protection, covering five stores in Spokane Valley and Spokane, Washington, as well as Coeur d'Alene, Meridian, and Nampa, Idaho. The company is owned by William J. Van Beurden, who serves as president, CEO, and chairman. He also chairs Kingsburg-based Van Beurden Insurance Services, Inc. A request for comment from Van Beurden Insurance Services President Chris Van Beurden was not returned. About Mattress Land of WA Inc. Mattress Land distributes home furnishing products. The Company offers mattress, pillows, bed sheets, and bed frames, as well as provides financing services. Mattress Land serves customers in the United States. [BN] Mattress Land sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. E.D. Cal. Case No. 25-12383) on July 17, 2025. Honorable Bankruptcy Judge Jennifer E. Niemann handles the case. The Debtor is represented by Riley C. Walter, Esq. SOLEPLY LLC: Amends Vehicle Loan Claims Details ----------------------------------------------- Soleply, LLC, submitted a First Amended Plan of Reorganization under Subchapter V. The Plan provides for the full payment of administrative and priority claims. Allowed general unsecured creditors with allowed claims will be paid approximately 10% of their claims, to be paid on a quarterly basis over 36 months following confirmation of the Plan. Equity holders will receive no cash distribution but will continue to hold the equity of the Debtor in the same percentages as of the Petition Date. Class 2 consists of Vehicle Loan Claims. The Debtor has purchased two cargo vans from Mercedes Benz Financial Services USA LLC. * The 2022 Mercedes LT Sprinter (VIN ending in 1721), has a value of $40,000 and a remaining loan balance as of the petition date in the amount of $27,018.49. The Debtor will make regular monthly payments as set forth in the loan documents. Further, as Mercedes is fully secured all post-petition interest, expenses and costs may be added to the balance due. In the event of a default, MBFS may exercise its rights and remedies under the loan documents and is not required to seek further relief from the Court. * The 2021 Mercedes LT Sprinter (VIN ending in 2436) has a value of $23,000.00 and a remaining loan balance as of the petition date of $46,958.00. Because the balance of the loan exceeds the value of the vehicle, the Debtor will pay Mercedes $23,000 plus interest at the rate of 9.2% over thirty-six months. Monthly payments of $733.54 will be paid to Mercedes beginning August 5, 2025 and continuing each month until the indebtedness is paid in full. Like in the prior iteration of the Plan, Allowed Claims of General Unsecured Creditors of Class 3 are expected to be approximately $1,605,000. After payment of Class 1 claim, the total disposable income from 3-year projection is $175,000. Net recovery is approx. 10%. Net disposable income shall be paid on a quarterly basis, pro rata among allowed general unsecured claims. This Class is impaired. Class 4 consists of the members of the Debtor. The Class 4 interest holders shall receive no payments under the Plan and all existing shares will continue to be held by the respective members in the percentage of ownership that existed as of the Petition Date. The Plan will be funded by the proceeds realized from the continued operations of the Debtor. On Confirmation of the Plan, all property of the Debtor, tangible and intangible, including, without limitation, licenses, furniture, fixtures and equipment, will revert, free and clear of all Claims and Equitable Interests except as provided in the Plan, to the Debtor. A full-text copy of the First Amended Plan dated July 28, 2025 is available at https://urlcurt.com/u?l=iMKRdB from PacerMonitor.com at no charge. Counsel to the Debtor: Ronald S. Gellert, Esq. Gellert Seitz Busenkell & Brown, LLC 1201 N. Orange St., Ste. 300 Wilmington, DE 19801 Telephone: (302) 425-5800 Facsimile: (302) 425-5814 Email: rgellert@gsbblaw.com About Soleply LLC Soleply, LLC is a retailer specializing in premium sneakers and streetwear, operates both online (soleply.com) and physical stores including its main location in Cherry Hill, N.J. The company sells a variety of branded footwear including Nike Dunks, Air Jordans, ASICS Gel-Kayano models, and adidas Yeezy products, along with high-end streetwear from brands like Fear of God Essentials, Denim Tears, and Bravest Studios. Soleply sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-12919) on March 21, 2025, listing between $1 million and $10 million in both assets and liabilities. Judge Andrew B. Altenburg, Jr. oversees the case. The Debtor is represented by Ronald S. Gellert, Esq., at Gellert Seitz Busenkell & Brown, LLC. SONDER COUNSELING: Gets Final OK to Use Cash Collateral ------------------------------------------------------- Sonder Counseling, LLC received final approval from the U.S. Bankruptcy Court for the Eastern District of Missouri to use cash collateral. The final order authorized the Debtor to continue using cash collateral, which includes cash receivables and cash on hand, to fund its operations in accordance with its budget. Pre-bankruptcy creditors including Black Rok LLC, Fundamental Capital, LLC and ODK Capital, LLC assert interest in the cash collateral. The Debtor allegedly owes $6,150 to Black Rok, $160,489 to Fundamental Capital and $262,664 to ODK Capital. As adequate protection for any diminution in the value of their collateral, the secured creditors will be granted first priority replacement liens on any pre-bankruptcy assets of the Debtor's estate that are subject to their respective liens. The replacement liens do not apply to any Chapter 5 causes of action. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/4077A from PacerMonitor.com. About Sonder Counseling LLC Sonder Counseling, LLC filed Chapter 11 petition (Bankr. E.D. Mo. Case No. 25-40726) on March 7, 2025, listing up to $50,000 in assets and up to $1 million in liabilities. James Ahearn, clinical director and owner, signed the petition. Judge Bonnie L. Clair oversees the case. Robert E. Eggmann, III, Esq., at Carmody Macdonald, P.C. is the Debtor's legal counsel. Fundamental Capital, as secured creditor, is represented by: Alan C. Hochheiser, Esq. Maurice Wutscher, LLP 23611 Chagrin Blvd. Suite 207 Beachwood, OH 44122 Telephone: (216) 220-1129 Facsimile: (216) 472-8510 ahochheiser@mauricewutscher.com SPLENDIDLY BLENDED: Gets Final OK to Use Cash Collateral -------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of Louisiana issued a final order authorizing Splendidly Blended We, LLC to use cash collateral, including funds in its accounts and operational revenue. The final order authorized the Debtor to use cash collateral solely to pay expenses in an amount not to exceed those set forth in the budget, subject to permitted variances. Permitted variances mean a variance of not more than 10% of any budget line item so long as the aggregate amount of the budget on a monthly basis is not exceeded by more than 10%. If variance exceeded without consent from American Bank and Trust Company, use of cash collateral terminates three business days after written notice, unless court relief is sought. The Debtor's 13-week budget projects total operational expenses of $23,000. As adequate protection from any diminution in value of its pre-bankruptcy collateral, American Bank and Trust Company will be granted replacement liens on the Debtors' post-petition assets and the proceeds thereof. The replacement liens do not apply to any avoidance actions. In addition, the Debtor was ordered to make a monthly payment of $2,929 to American Bank and Trust Company and keep the collateral insured. About Splendidly Blended We Splendidly Blended We, LLC owns and operates a bed and breakfast in New Orleans, La. Splendidly Blended We sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. La. Case No. 25-10300) on February 18, 2025, listing up to $100,000 in assets and up to $500,000 in liabilities. Mia Weber, managing director of Splendidly Blended We, signed the petition. Judge Meredith S. Grabill oversees the case. Raphael Bickham, Esq., at Bickham Law Practice, LLC is the Debtor's bankruptcy counsel. American Bank and Trust Company is represented by: Wayne A. Maiorana, Jr., Esq. Newman, Mathis, Brady & Spedale A Professional Law Corporation 3501 N. Causeway Blvd., Suite 300 Metairie, Louisiana 70002 Telephone: (504) 837-9040 Tmaiorana@newmanmathis.com STERLING GARDENS: Seeks Chapter 11 Bankruptcy in New Jersey ----------------------------------------------------------- On July 31, 2025, Sterling Gardens Realty LLC filed Chapter 11 protection in the District of New Jersey. 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 Sterling Gardens Realty LLC Sterling Gardens Realty LLC owns a single real estate asset, consistent with the definition of a single-asset real estate entity under U.S. bankruptcy law. Sterling Gardens Realty LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-18052) on July 31, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Christine M. Gravelle handles the case. The Debtor is represented by Anthony Sodono, III, Esq. at McMANIMON, SCOTLAND & BAUMANN, LLC. SUGARLOAF VENTURES: Trustee Hires BMO Capital as Investment Banker ------------------------------------------------------------------ Mark Sharf, the trustee appointed in the case of Sugarloaf Ventures, LP, seeks approval from the U.S. Bankruptcy Court for the Northern District of California to employ BMO Capital Markets Corp. as investment banker. The firm will provide these services: (a) familiarize itself with the business, operations, properties, condition (financial and otherwise) and prospects of its subsidiaries (the "Subsidiaries") and, if applicable, purchaser; (b) assist the Debtor in evaluating alternative transactions, including analyzing the financial impact of such alternatives; (c) advise and assist the Debtor in considering the desirability of effecting a transaction, and developi and implement a general strategy for accomplishing the transaction; (d) market the Debtor's assets for sale and assist it in developing a list of possible purchasers in a transaction and contacting and eliciting interest and offers from those possible purchasers, as well as negotiating and presenting counter offers; (e) assist the Debtor in the preparation of a descriptive memorandum or offering memorandum that describes it and its subsidiary's operations and financial information and other appropriate information in such detail as may be appropriate under the circumstances; and (f) advise and assist the trustee in the course of negotiations of a transaction and will participate in such negotiations. The firm will be paid to the greater of $425,000 or 3 percent of the sale price received by the Debtor. The firm is also entitled to be reimbursed for certain expenses up to a total of $125,000 in the event a transaction is consummated. Cameron Hewes, a managing director at BMO Capital Markets, 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: Cameron Hewes BMO Capital Markets Corp 520 Pike Street, Suite 2210 Seattle, WA 98101 Telephone: (206) 452-5569 About Sugarloaf Ventures LP Sugarloaf Ventures LP is the parent company of Sugarloaf Wine Co. Sugarloaf Ventures LP sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 24-10673) on November 1, 2024. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge William J. Lafferty handles the case. The Debtor is represented by Steven M. Olson, Esq., at Bluestone Faircloth & Olson, LLP. Mark Sharf was appointed as trustee in this Chapter 11 case. He tapped Finestone Hayes LLP as his counsel and BMO Capital Markets Corp. as investment banker. T14-15 LLC: Seeks to Tap Nardella & Nardella as Bankruptcy Counsel ------------------------------------------------------------------ T14-15, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to employ Nardella & Nardella PLLC as counsel. The firm will render these services: (a) advise and counsel the Debtor concerning the operation of its business in compliance with Chapter 11 and orders of this court; (b) defend any causes of action on behalf of the Debtor; (c) prepare, on behalf of the Debtor, all necessary legal papers in the Chapter 11 case; (d) assist in the formulation of a plan of reorganization and preparation of a disclosure statement; and (e) provide all services of a legal nature in the field of bankruptcy law. The firm will be paid at these hourly rates: Partners $550 Associates $275 Paraprofessionals $225 In addition, the firm will seek reimbursement for expenses incurred. The Debtor has paid Nardella $1,000, on a current basis, for services rendered and $1,738 for costs incurred prior to commencement of this case. The firm receied a retainer of $25,000 paid by Elizabeth Townsend. Jonathan Sykes, Esq., a partner at Nardella & Nardella, 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: Jonathan Sykes, Esq. Nardella & Nardella PLLC 135 W. Central Blvd., Ste. 300 Orlando, FL 32801 Telephone: (407) 966-2680 Email: jsykes@nardellalaw.com About T14-15 LLC T14-15 LLC ualifies as a single asset real estate entity under 11 U.S.C. Section 101(51B), holding a special warranty deed for two vacant commercial parcels -- Parcel ID 20-22-28-0000-00-015 and Parcel B ID 20-22-28-0000-00-082 -- located on Maine Street in Ocoee, Florida 34761. The properties are situated within a commercial development zone, and the Debtor values its interest in the land at $11.25 million. T14-15 LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-03231) on May 28, 2025. In its petition, the Debtor reports total assets of $11,250,000 and total liabilities of $7,633,560. Honorable Bankruptcy Judge Lori V. Vaughan handles the case. The Debtor is represented by Jonathan M. Sykes, Esq., at Nardella & Nardella, PLLC. TILSON TECHNOLOGY: Asks Court OK for $4.2MM Broadband Sale ---------------------------------------------------------- Ben Zigterman of Law360 Bankruptcy Authority reports that Tilson Technology Management Inc., a fiber network developer, has requested approval from a Delaware bankruptcy judge to sell its broadband business for approximately $4.2 million. About Tilson Technology Management Inc. Tilson Technology Management Inc. is a telecommunications infrastructure construction and technology management firm based in Portland, Maine, specializes in building and managing telecommunications infrastructure projects across the United States. The company works with various construction, technology, and service providers to deploy telecommunications networks. Tilson Technology Management Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10949) on May 29, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. The Debtor is represented by Evan T. Miller, Esq. at Saul Ewing LLP. TOMMY'S FORT: Court Confirms First Amended Joint Chapter 11 Plan ---------------------------------------------------------------- Judge Edward L. Morris of the United States Bankruptcy Court for the Northern District of Texas entered an order confirming the first amended joint Chapter 11 plan of liquidation filed by Mark E. Andrews, the chapter 11 trustee appointed in the chapter 11 cases of Tommy's Fort Worth, LLC and its affiliates. The Court finds, determines and concludes that the Original Plan, the Disclosure Statement, and other materials distributed by the Trustee in connection with solicitation of the Original Plan, as they may have been modified, amended, or supplemented from time to time, were transmitted and served in compliance with the Bankruptcy Rules, including Bankruptcy Rules 3017 and 3018, with the Local Rules, and with the procedures set forth in the Solicitation Order. As described in the Andrews Declaration and the Certificates of Service, (a) the service of the Solicitation Packages was adequate and sufficient under the circumstances of these Chapter 11 Cases, and (b) adequate and sufficient notice of the Confirmation Hearing and other requirements, deadlines, hearings, and matters described in the Solicitation Order was timely provided in compliance with the Bankruptcy Rules and the Solicitation Order. Votes on the Original Plan were solicited after disclosure to holders of Claims of "adequate information" as defined in section 1125 of the Bankruptcy Code was provided pursuant to the Disclosure Statement. As evidenced by the Andrews Declaration and the Ballot Tabulation, votes to accept or reject the Original Plan were solicited and tabulated fairly, in good faith, and in a manner consistent with the Solicitation Order, the Bankruptcy Code, the Bankruptcy Rules, and the Local Rules. Prior to the Confirmation Hearing, the Trustee made certain modifications to the Original Plan pursuant to the Plan Modification. Additionally, the Trustee has agreed to certain additional modifications provided for pursuant to the terms of the confirmation stipulations filed and approved in advance of the Confirmation Hearing and those provided for in accordance with the other settlements and resolutions announced on the record at the Confirmation Hearing, all of which are reflected herein. The Original Plan, as modified by the Plan Modifications, complies with the classification requirements of section 1122 of the Bankruptcy Code and the content requirements of section 1123 of the Bankruptcy Code. Thus, in accordance with section 1127(a) of the Bankruptcy Code, the Original Plan was validly modified by the Plan Modifications, the Plan is the only chapter 11 plan sought to be confirmed by the Trustee, and the Plan is the only chapter 11 plan before the Court for confirmation consideration. In accordance with Bankruptcy Rule 3019, the Plan Modifications do not require additional disclosure under section 1125 of the Bankruptcy Code or the re-solicitation of votes with respect to the Plan under section 1126 of the Bankruptcy Code, and they do not require that Holders of Claims (other than the Borisch Parties) be afforded an opportunity to change previously cast votes accepting or rejecting the Original Plan (which will apply with equal force and effect to the Plan). The Borisch Parties were afforded an extended opportunity to amend their Ballots and object to the Plan. Under the circumstances, such extension was and is reasonable and appropriate, and no further solicitation is necessary. Accordingly, the Plan is properly before this Court, and in accordance with section 1127 of the Bankruptcy Code and Bankruptcy Rule 3019, all votes cast with respect to the Original Plan by holders of Claims other than the Borisch Parties shall be binding and apply with equal force and effect to the Plan. In the case of the Borisch Parties, all newly-cast Ballots by them in accordance with the Scheduling Order in relation to the Original Plan as modified by the Plan Modification shall apply to the Plan. The Trustee has met his burden of proving the elements of sections 1129 of the Bankruptcy Code by a preponderance of the evidence, which is the applicable evidentiary standard. All Plan documents, including, without limitation, the Original Plan and Plan Modification, are dated and identify the Trustee as the Plan proponent, thereby satisfying Bankruptcy Rule 3016(a). The Trustee appropriately filed the Disclosure Statement in relation to the Original Plan, thereby satisfying Bankruptcy Rule 3016(b). The injunction, release, and exculpation provisions in the Disclosure Statement and the Plan describe, with specific and conspicuous language, all acts to be enjoined, released, and exculpated and identify the entities that will be subject to the injunction, releases, and exculpations, thereby satisfying Bankruptcy Rule 3016(c). The Plan complies with the applicable provisions of the Bankruptcy Code, thereby satisfying section 1129(a)(1) of the Bankruptcy Code. As required by section 1123(a)(1) of the Bankruptcy Code, Article III of the Plan designates eight (8) Classes of Claims against, and Equity Interests in, the Debtors. Administrative Claims (including Professional Fee Claims) and Priority Tax Claims, which are addressed by Article II of the Plan, need not be classified. As required by section 1122(a) of the Bankruptcy Code, the Claims and Equity Interests placed in each Class are substantially similar to other Claims and Equity Interests, as the case may be, in each such Class. Valid business, factual, and legal reasons exist for separately classifying the various Classes of Claims and Equity Interests under the Plan. Thus, the Plan satisfies sections 1122 and 1123(a)(1) of the Bankruptcy Code. Articles III and IV of the Plan specify that Class 3 is unimpaired under the Plan, thereby satisfying section 1123(a)(2) of the Bankruptcy Code. Articles III and IV of the Plan specify that Classes 1, 2, 4, 5, 6, 7, and 8 are impaired, and set forth the treatment of such impaired Classes, thereby satisfying section 1123(a)(3) of the Bankruptcy Code. Article IV of the Plan provides the same treatment for each Claim or Equity Interest in each respective Class unless the holder of a particular Claim or Equity Interest has agreed to a less favorable treatment in respect of such Claim or Equity Interest, thereby satisfying section 1123(a)(4) of the Bankruptcy Code. The Plan, including the various documents included in the Plan Supplement, provide for adequate and proper means for the Plan's implementation including, without limitation, (a) sources of consideration for Plan Reserves and distribution thereof, (b) the cancellation of Equity Interests, (c) authorizing the transfer of certain of the Debtors' Assets to the Creditor Trust, (d) the reservation and transfer to the Creditor Trust and Prepetition Lender of the Assigned Causes of Action and Other Retained Causes of Action, as applicable, and (e) the execution, delivery, filing, or recording of all contracts, securities, instruments, releases, and other agreements or documents related to the foregoing, thereby satisfying section 1123(a)(5) of the Bankruptcy Code. Article VI of the Plan provides for the establishment of the Creditor Trust and the appointment of the Creditor Trustee. These provisions are consistent with the interests of holders of Claims and public policy, thereby satisfying section 1123(a)(7) of the Bankruptcy Code. Pursuant to the Plan, Class 3 is unimpaired and Classes 1, 2, 4, 5, 6, 7, and 8 are impaired, as contemplated by section 1123(b)(1) of the Bankruptcy Code. Article X of the Plan provides for the rejection of the Debtors' remaining executory contracts and unexpired leases (if any), effective as of the Effective Date, except for any executory contract or unexpired lease that (a) was previously assumed, assumed and assigned or rejected pursuant to an Order of the Bankruptcy Court entered on or before the Confirmation Date, (b) previously expired or terminated by its own terms, or (c) is the subject of a motion to assume, assume and assign or reject filed on or prior to the Confirmation Date. In consideration for the distributions and other benefits provided under the Plan and with the support of the various creditors, stakeholders, and other parties in interest, the provisions of the Plan constitute a good-faith compromise of all Claims, Equity Interests, Causes of Action, as applicable, and controversies released, settled, compromised, or otherwise resolved pursuant to the Plan. Those settlements and compromises are fair, equitable, and reasonable and approved as being in the best interests of the Debtors and their Estates. In this regard, as further discussed in the Oral Ruling, the Plan embodies a Plan Settlement which is fair and equitable and in the best interests of the Debtors and the Estates. The Trustee has proposed the Plan in good faith and not by any means forbidden by law, thereby satisfying section 1129(a)(3) of the Bankruptcy Code. The Trustee's good faith is evident from the facts and record of these Chapter 11 Cases, the Disclosure Statement, the Andrews Declaration, the record made at the Confirmation Hearing, and the other proceedings in these Chapter 11 Cases. The Plan was proposed with the legitimate and honest purpose of maximizing the value of the Debtors' Estates for the benefit of creditors. The Plan and its classification, distribution, exculpation, release, and injunction provisions were all negotiated in good faith and at arm's length among various stakeholders in these Chapter 11 Cases, including, without limitation, the Prepetition Lender and the Committee. Such provisions are consistent with sections 105, 1122, 1123(b)(6), 1125, 1129, and 1142 of the Bankruptcy Code, they are each necessary for the success of the Plan, and they were not included in the Plan for any improper purpose. The Plan satisfies section 1129(a)(7) of the Bankruptcy Code. The liquidation analysis attached as Schedule 1 to the Disclosure Statement and the other evidence related thereto in support of the Plan that was proffered or adduced at, prior to, or in connection with, the Confirmation Hearing: (a) are reasonable, persuasive, credible, and accurate as of the dates such analysis or evidence was prepared, presented, or proffered; (b) utilize reasonable and appropriate methodologies and assumptions; (c) have not been controverted by other evidence; and (d) establish that holders of Allowed Claims and Equity Interests in each Class will recover at least as much under the Plan on account of such Claim or Equity Interest, as of the Effective Date, as such holder would receive if the Debtors were liquidated, on the Effective Date, under chapter 7 of the Bankruptcy Code. Class 3 is unimpaired by the Plan, and holders of Claims in such Class are thus conclusively presumed to have accepted the Plan pursuant to section 1126(f) of the Bankruptcy Code. Classes 7 and 8 are impaired by the Plan, will receive nothing under the Plan on account of such Claims and Equity Interests, and thus are conclusively deemed to have rejected the Plan. Classes 1, 2, 4, 5, and 6 are impaired, and the holders of Claims in such Classes were entitled to vote on the Plan. As established by the Ballot Tabulation, the holders of Claims in Classes 2, 4, and 5 voted to accept the Plan in accordance with section 1126(d) of the Bankruptcy Code. Therefore, Section 1129(a)(8) of the Bankruptcy Code has been satisfied with respect to Classes 2, 4, and 5. The Plan satisfies the "cram down" requirements of section 1129(b) of the Bankruptcy Code, and the Plan may be confirmed notwithstanding the lack of acceptance of the Plan by Classes 1, 6, 7, and 8. The Plan provides for the liquidation of the Debtors under the terms of the Plan in a manner that complies with the priority scheme and other provisions of the Bankruptcy Code and other applicable law. There will be no need for any further restructuring or liquidation of the Debtors or the Estates after implementation of the Plan. As a result, the requirements of section 1129(a)(11) of the Bankruptcy Code have been satisfied. Notwithstanding the fact that Classes 1, 6, 7, and 8 have not accepted the Plan, the Plan may be confirmed pursuant to section 1129(b)(1) of the Bankruptcy Code because (a) all requirements of section 1129(a) of the Bankruptcy Code, other than section 1129(a)(8), have been satisfied; (b) the Plan does not discriminate unfairly and is fair and equitable with respect to the Claims and Equity Interests in the Classes 1, 6, 7, and 8; (c) the Plan has been proposed in good faith and is reasonable; (d) with respect to Class 1, the Plan meets the requirement that each holder of a Priority Non-Tax Claim receive or retain on account of such Claim property of a value, as of the Effective Date of the Plan, equal to the allowed amount of such Claim; and (e) with respect to Classes 6, 7 and 8, the Plan meets the requirements that (i) no holder of any Claim or Equity Interest that is junior to each such Classes will receive or retain any property under the Plan on account of such junior Claim or Equity Interest and (ii) no holder of a Claim or Equity Interest in a Class senior to such Classes is receiving more than 100% on account of its Claim. As a result, the Plan satisfies the requirements of section 1129(b) of the Bankruptcy Code. Based on the record before the Court in these Chapter 11 Cases, the Trustee, the Committee, and each of their respective Professional Persons have acted in "good faith" within the meaning of section 1125(e) of the Bankruptcy Code and in compliance with the applicable provisions of the Bankruptcy Code, the Bankruptcy Rules, and the Local Rules in connection with all of their respective activities arising out of, relating to, or connected with the administration of the Chapter 11 Cases, the negotiation and pursuit of approval of the Disclosure Statement, the preparation and solicitation of acceptances of the Plan, the pursuit of confirmation of the Plan, and the funding of the Plan, as applicable, and are entitled to the protections afforded by section 1125(e) of the Bankruptcy Code. Each such party has, and upon completion of the Plan shall be deemed to have, participated in good faith and in compliance with the applicable laws with regard to the solicitation of votes and distribution of consideration pursuant to the Plan and, therefore, is not and on account of such distributions shall not be, liable at any time for the violation of any applicable law, rule, or regulation governing the solicitation of acceptances or rejections of the Plan or such distributions made pursuant to the Plan. Section 105(a) of the Bankruptcy Code permits issuance of the injunctions and approval of the releases and injunctions set forth in Article X of the Plan (as modified herein) if, as has been established here based upon the record in the Chapter 11 Cases and the evidence presented at the Confirmation Hearing, such provisions (i) were integral to the settlement, and are essential to the formulation and implementation of the Plan, as provided in section 1123 of the Bankruptcy Code, (ii) confer substantial benefits on the Debtors' Estates, (iii) are fair, equitable, and reasonable, and (iv) are in the best interests of the Debtors, their Estates, and parties in interest. Pursuant to section 1123(b)(3) of the Bankruptcy Code and Bankruptcy Rule 9019(a), the releases, exculpation, injunctions, and gatekeeping provisions set forth in the Plan and implemented by this Confirmation Order are fair, equitable, reasonable, and in the best interests of the Debtors and their Estates, creditors, and equity holders. The Court finds that the injunctions, exculpation, and releases set forth in Article X of the Plan are consistent with the Bankruptcy Code and applicable law. The Plan satisfies the requirements for confirmation set forth in section 1129 of the Bankruptcy Code and shall be confirmed. All objections to the Plan, including the three formal Objections filed by the U.S. Trustee, the Tennessee Department of Revenue, and Matthew Borisch, to the extent not otherwise withdrawn at or prior to the Confirmation Hearing, are overruled. A copy of the Court's Findings of Fact, Conclusions of Law, and Order Confirming Trustee's First Amended Joint Chapter 11 Plan is available at http://urlcurt.com/u?l=Svkh52from PacerMonitor.com. About Tommy's Fort Worth Tommy's is a premium boat dealer with 16 locations across the United States. Tommy's Fort Worth, LLC and its affiliates concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 24-90000) on May 20, 2024. The petitions were signed by Monica S. Blacker as chief restructuring officer. At the time of filing, the Lead Debtor estimated $1 million to $10 million in assets and $100 million to $500 million in liabilities. Judge Edward L. Morris presides over the case. Liz Boydston, Esq. at GUTNICKI LLP, is the Debtor's counsel. TRINITY AUTOMOTIVE: Unsecureds Will Get 23% Dividend in Plan ------------------------------------------------------------ Trinity Automotive Service Center, LLC, filed with the U.S. Bankruptcy Court for the Southern District of Ohio a Subchapter V Plan of Reorganization dated July 28, 2025. The Debtor is an Ohio limited liability company that operates an Aamco Transmission franchise repair shop in Springdale, Ohio specializing in repairing, rebuilding and installing auto and truck transmissions. The Debtor currently leases its facility on Northland Blvd. from Marianna Properties, LLC, who recently obtained an assignment of the lease from Kruman Properties, LLC (the "Lease"). The Lease has a sixty-one month term which commenced December 7, 2021 so it will run thru December 2026. The current monthly rent is $3,521.76. This Plan provides for one class of secured claims and one class of general unsecured claims. The treatment of each class. This Plan also provides for the payment of administrative and priority claims with administrative claims to be paid in full on the effective date of this Plan or upon such other terms as may be agreed upon by the holder of the claim and the Debtor, and priority claims to be paid in full. The Plan will be funded by the disposable income of the Debtor from its ongoing business operations as set forth in the Projections. Class UN-G consists of any unsecured claim against these Debtor which includes the undersecured claims that are fully or partially unsecured as explained below. The total Class UN-G Claims are estimated by the Debtor to be no less than $391,000.00 based upon Proofs of Claim filed herein and the debts listed as non contingent, liquidated and undisputed on Schedule F of the Petition. This amount also includes the non-priority portion of the State of Ohio Department of Taxation claims and Internal Revenue Service in the total amount of $12,538.78. The Debtor reserves the right to object to any claims and intends to negotiate amicable resolution in the event of any disputes, if possible. The Claims Bar Date was July 1, 2025. The Claims of Amerifi Capital, Pro Venture Capital, LLC, Rapid Finance and State of Ohio, Department of Taxation were listed as secured claims on the Petition filed herein (the "Wholly Unsecured Creditors"). Notwithstanding the foregoing, given that all such purported secured claims are junior in priority to the claim of North Mill Credit Trust and the claim of North Mill Credit Trust is substantially undersecured, all such "secured" claims of the will be treated as general, unsecured claims for all intents and purposes here. Further, the State of Ohio, Department of Taxation will be treated as a priority claim as set forth herein based upon its Proof of Claim. The Class UN-G Claims shall be Allowed in the amount determined by the Court and shall be paid by Reorganized Debtor on a pro rata basis from the Plan Payments, with disbursements to be made no less than quarterly, after the Allowed Priority Claim and Secured Claims of North Mill, Ohio Department of Taxation, and Internal Revenue Service are paid pursuant to the terms of the Plan, and after resolution of all Disputed Claims. It is projected based upon the amount of the total unsecured claims, the priority claims of the Ohio Department of Taxation and Internal Revenue Service, and the secured claim of North Mill, that creditors in the UN-G class will receive approximately a twenty-three percent dividend. Further, upon confirmation, all liens of the Wholly Unsecured Creditors shall be released and of no further force or effect. Any Claim falling within Class UN-G is impaired under the Plan and, accordingly, is entitled to vote to accept or reject the Plan. Class EQ consists of any Equity Interest in the Debtor. Nabil Fino is the sole owner/member of the Debtor. Mr. Fino will retain his 100% interest in the Debtor. Class EQ is not impaired under the Plan and, accordingly, the holder of the Equity Interest is not entitled to vote to accept or reject the Plan. The Debtor intends to fund the Plan through cash flow from operations. Nabil Fino will retain his interest in the Reorganized Debtor and will continue all of his current duties to the Debtor, including but not limited to managing and overseeing all of the day to day operations of the Debtor. It is important to note that Northland Blvd. has reopen adjacent to the Debtor's facility and the main entrance to Debtor's shop is now accessible, which has caused an immediate increase in income and supports the attached Projections. The attached Projections include an income and expenses forecast for the Debtor, for the years 2025-2030. The Projections are intended to assess future income and cash flow availability for payments to priority and unsecured creditors and to form the basis for determining the feasibility of Plan. A full-text copy of the Subchapter V Plan dated July 28, 2025 is available at https://urlcurt.com/u?l=L7jx4c from PacerMonitor.com at no charge. Counsel to the Debtor: Ira H. Thomsen, Esq. Thomsen Law Group, LLC 140 North Main Street, Suite A Springboro, OH 45066 Telephone: (937) 748-5001 Facsimile: (937) 404-6630 About Trinity Automotive Service Center Trinity Automotive Service Center, LLC operates as an AAMCO franchise in Cincinnati, Ohio, specializing in transmission repairs and comprehensive automotive services. Located at 370 Northland Blvd. Trinity Automotive Service Center sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ohio Case No. 25-11009) on April 29, 2025. In its petition, the Debtor reported up to $50,000 in assets and between $100,000 and $500,000 in liabilities. Judge Beth A. Buchanan handles the case. The Debtor is represented by Ira H. Thomsen, Esq. VENTURE GLOBAL: S&P Assigns 'BB+' Rating on Senior Secured Notes ---------------------------------------------------------------- S&P Global Ratings assigned its 'BB+' rating and '3' recovery rating to Venture Global Plaquemines LNG LLC's (VGPL or the project) $2 billion senior secured notes due 2034 and $2 billion senior secured notes due 2036. S&P said, "The notes are rated under our project finance criteria, under which the rating is determined by the stand-alone credit profile (SACP) for the construction or operating phases of the project--whichever is lower. "We based the rating on the SACP of the construction phase, which benefits from an advanced stage of construction that reduces the risk of delays and cost overruns. "The stable outlook reflects our expectation that the project's construction will proceed on time and on budget with phase 2 anticipated to enter operations in mid-2027." Venture Global Plaquemines LNG LLC (VGPL or the project) consists of a natural gas liquefaction and export facility in Plaquemines Parish, La., and the associated Gator Express Pipeline for natural gas supply to the project. Venture Global LNG Inc. (VGLNG; BB-/Stable/--) has developed and commercialized the project in two phases. The first phase consists of the pipelines, equipment, and facilities to support liquefied natural gas (LNG) production of 13.3 million tons annually (tpa). Phase 2 consists of the facilities to support incremental production of 6.7 million tpa. When both phases are complete, the project will have an aggregate nameplate capacity of 20 million tpa and will consist of 36 liquefaction train modules, four LNG storage tanks, six pretreatment systems, three loading berths, two 720 megawatt combined-cycle power plants, a marine offloading facility, and the pipeline. Construction risk has largely been mitigated based on the advanced stage of construction. The project experienced some early construction delays with respect to its power island and pretreatment modules. However, the project sponsor descoped some of the work under the existing construction contracts and took direct responsibility for this work. This ensured that the project had sufficient temporary power to allow construction and commissioning to continue. In addition, work on the pretreatment modules has accelerated through the sponsor's intervention to mitigate further delays. The incremental cost of this work was funded with further equity injections from the sponsor and income produced from commissioning cargos. At this stage, the project benefits from the building program being very advanced with relatively small amounts of capex remaining. The project is producing cash flow from the first 20 trains that are in commissioning as of April 30, 2025, which provides a significant source of funds to complete the project and provide additional equity should any further problems arise. In addition, the project uses the same technology and design as its sister project, Venture Global Calcasieu Pass LLC (VGCP), which entered commercial operations April 15, 2025. The project has a high level of contractedness with strong counterparties. The project is supported by 20-year contracts on 19.7 million tpa with a shorter-term contract for the remaining 300,000 tpa. All of the contracts contain a lifting fee, which consists of a fixed percentage above Henry Hub as well as a fixed capacity fee. The fixed capacity fee is payable regardless of whether cargos are lifted. This contractual structure creates a highly resilient long-term cash flow. In addition, the project entered into short-term contracts for a portion of the cargos that will be lifted during the commissioning process. Cash flow resiliency is further supported by the underlying credit strength of the revenue offtakers. The weighted-average credit assessment of the revenue offtakers is 'A-'. Potential for excess capacity could enhance cash flow. The project has a total nameplate capacity of 20 million tpa, although it has a guaranteed capacity of 22.5 million tpa. The sponsors have indicated that based on design enhancements made since VGCP was built, the plant will be able to support higher production. Initial performance testing (based on cargos that have been lifted since December) and further modeling have suggested that production could be as high as 27.2 million tpa. The project has entered into sales and purchase agreements with Venture Global Commodities LLC, a wholly owned subsidiary of VGLNG for any production above 20 million tpa. Given that commissioning only commenced during the past six months, S&P has modeled excess capacity of 1.375 million tpa (95% of guaranteed production of 22.5 million tpa). Overall, the strong contractual framework, along with the potential for incremental revenue from excess capacity, creates robust cash flow. The stable outlook considers both the construction and operating risk of the project. Construction is significantly advanced, which we have incorporated into our rating analysis. The project benefits from proven technology and design. In addition, once the project is completed, cash flow will be robust and supported by a strong contractual foundation with predominantly investment-grade counterparties. S&P said, "We could take a negative rating action if the project experiences unforeseen delays that threaten the scheduled substantial completion date such that costs increase beyond the mitigations provided in the project forecast. In addition, we could take a negative rating action if we forecast the minimum DSCR to be below 1.2x during operations. "We are unlikely to raise the rating during construction. We could take a positive rating action around the time commercial operation starts if forecast cash flow is such that the minimum debt service coverage ratio (DSCR) is at or above 1.25x." VERRICA PHARMACEUTICALS: Shares Now Trading on Split-Adjusted Basis ------------------------------------------------------------------- Verrica Pharmaceuticals Inc. disclosed in an 8-K Report filed with the U.S. Securities and Exchange Commission that on July 22, 2025, it filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to effect a reverse stock split at a ratio of 1-for-10. The Charter Amendment was authorized by the stockholders of the Company at the Company's Annual Meeting of Stockholders held on June 5, 2025. Pursuant to the Charter Amendment, effective at 5:00 p.m. Eastern Time on July 24, 2025, every 10 shares of the Company's issued and outstanding common stock would be automatically converted into one issued and outstanding share of common stock, without any change in par value per share. As a result of the reverse stock split, proportionate adjustments would be made to the per share exercise price and the number of shares issuable upon the exercise or vesting of all stock options and warrants outstanding at the Effective Time, which would result in a proportional decrease in the number of shares of the Company's common stock reserved for issuance upon exercise of such stock options and warrants, and a proportional increase in the exercise price of all such stock options and warrants. In addition, the number of shares reserved for issuance under the Company's 2018 Equity Incentive Plan and 2024 Inducement Plan immediately prior to the Effective Time would be reduced proportionately. The Company's common stock began trading on The Nasdaq Global Market on a split-adjusted basis at the market open on July 25, 2025. The new CUSIP number for the Company's common stock following the reverse stock split is 92511W207. No fractional shares will be issued as a result of the reverse stock split. Stockholders of record who would otherwise be entitled to receive a fractional share will receive a cash payment in lieu thereof. The reverse stock split will affect all stockholders proportionately and will not affect any stockholder's percentage ownership of the Company's common stock (except to the extent that the reverse stock split results in any stockholder owning only a fractional share). As of July 11, 2025, there were approximately 92.5 million shares of common stock outstanding. Immediately following the reverse stock split, there will be approximately 9.25 million shares of common stock outstanding (subject to adjustment due to the effect of cashing out fractional shares as described). About Verrica Pharmaceuticals West Chester, Pa.-based Verrica Pharmaceuticals Inc. is a dermatology therapeutics company developing and selling medications for skin diseases requiring medical intervention. Philadelphia, Pennsylvania-based KPMG LLP, the Company's auditor since 2008, issued a "going concern" qualification in its report dated March 11, 2025, attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, citing that the Company has incurred substantial operating losses since inception and has negative cash flows from operations that raise substantial doubt about its ability to continue as a going concern. As of December 31, 2024, the Company had $54.1 million in total assets, $63.9 million in total liabilities, and total stockholders' deficit of $9.9 million. VIEWBIX INC: Registers Possible Resale of Up to 1.85M Shares ------------------------------------------------------------ Viewbix Inc. filed a Registration Statement on Form S-1 with the U.S. Securities and Exchange Commission relating to the resale, from time to time, by the selling stockholders -- L.I.A. Pure Capital Ltd., YA II PN, LTD., Yariv Gilat, Lior Yakoel, Eliyahu Yoresh, Hudson Bay Master Fund Ltd., Bigger Capital Fund, LP, Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B, Robert J. Eide, Isaac Haim Livni Eide, Anthony Lapadula, and Ross Carmel -- of up to 1,851,846 shares of the Company's common stock, par value $0.0001 per share, consisting of: (i) 848,763 shares of the Company's common stock issued in a private placement in July 2025, or the July 2025 Private Placement, (ii) 77,160 shares of the Company's common stock issuable upon the exercise of pre-funded warrants issued in the July 2025 Private Placement, and (iii) 925,923 shares of the Company's common stock issuable upon the exercise of common warrants issued in the July 2025 Private Placement. The Company will not receive any proceeds from the sale of the shares of common stock by the selling stockholders. All net proceeds from the sale of the shares of common stock covered by this prospectus will go to the selling stockholders. However, the Company may receive the proceeds from any exercise of warrants if the holders do not exercise the warrants on a cashless basis. The selling stockholders may sell all or a portion of the shares of common stock from time to time in market transactions through any market on which the Company's shares of common stock are then traded, in negotiated transactions or otherwise, and at prices and on terms that will be determined by the then prevailing market price or at negotiated prices directly or through a broker or brokers, who may act as agent or as principal or by a combination of such methods of sale. A full-text copy of the Registration Statement is available at: https://tinyurl.com/35658cf6 About Viewbix Headquartered in Ramat Gan, Israel, Viewbix and its subsidiaries, Gix Media and Cortex Media Group Ltd., operate in the field of digital advertising. The Group has two main activities that are reported as separate operating segments: the search segment and the digital content segment. The search segment develops a variety of technological software solutions, which perform automation, optimization, and monetization of internet campaigns, for the purposes of obtaining and routing internet user traffic to its customers. The search segment activity is conducted by Gix Media. The digital content segment is engaged in the creation and editing of content, in different languages, for different target audiences, for the purposes of generating revenues from leading advertising platforms, including Google, Facebook, Yahoo and Apple, by utilizing such content to obtain and route internet user traffic for its customers. The digital content segment activity is conducted by Cortex. Tel Aviv, Israel-based Brightman Almagor Zohar & Co., the Company's auditor since 2012, issued a "going concern" qualification in its report dated March 21, 2025, citing that the decrease in revenues and cash flows from operations may result in the Company's inability to repay its debt obligations during the 12-month period following the issuance date of these financial statements. These conditions raise a substantial doubt about the Company's ability to continue as a going concern. VIVAKOR INC: Appoints Kimberly Hawley as EVP, CFO and Treasurer --------------------------------------------------------------- Vivakor, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that Kimberly Hawley was hired as Executive Vice President, Chief Financial Officer, and Treasurer of Vivakor, Inc. and Vivakor Administration, LLC. Prior to joining the Company, Ms. Hawley served as the Chief Financial Officer of Empire Diversified Energy, Inc. from February 2022 until July 24, 2025. In that role, she oversaw the financial operations of the company's seven subsidiaries. In addition, she led financial strategy, capital structure and funding initiatives for major infrastructure and site development projects, securing over $120 million in long term debt financing. Prior to joining Empire Diversified Energy, Ms. Hawley was a Certified Public Account with Personal Management Consultants from October 2018 to January 2022, where she provided comprehensive financial management services, including strategic planning, tax forecasting, and coordination with key financial and legal advisors. Ms. Hawley received her Bachelor of Business Administration from Loyola University of Chicago, and her Master of Business Administration from Pepperdine University. Ms. Hawley is a Certified Public Accountant (CPA) in California. The Board believes that Ms. Hawley's compiling and preparing accurate financial statements for complex entities, as well as her extensive knowledge with financing transactions makes her ideally qualified to help lead the Company and Vivakor towards continued growth and success as the Company and Vivakor's Chief Financial Officer. Ms. Hawley does not have a family relationship with any of the current officers or directors of Vivakor and there are no related party transactions involving Ms. Hawley. On July 24, 2025, Vivakor Administration entered into an executive employment agreement with Kimberly Hawley with respect to her appointment as Executive Vice President, Chief Financial Officer, and Treasurer. Pursuant to the Employment Agreement, Ms. Hawley will receive annual compensation of $350,000. Additionally, Ms. Hawley shall be eligible for performance bonus compensation as further set forth therein. The Employment Agreement may be terminated by either party for any or no reason, by providing five business days' notice of termination, but a termination without cause will trigger certain severance provisions, including a lump sum payment equal to one calendar year's pay. Vivakor Administration, LLC is a direct wholly-owned subsidiary of Vivakor. About Vivakor Coralville, Iowa-based Vivakor, Inc. is a socially responsible operator, acquirer, and developer of technologies and assets in the oil and gas industry, as well as related environmental solutions. Currently, the Company's efforts are primarily focused on operating crude oil gathering, storage and transportation facilities, as well as contaminated soil remediation services. Pittsburgh, Penn.-based Urish Popeck & Co., LLC, the Company's auditor since 2024, issued a "going concern" qualification in its report dated April 15, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company has a significant working capital deficiency, suffered significant recurring losses from operations, and needs to raise additional funds to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. As of Dec. 31, 2024, the Company had $241 million in total assets, $125.9 million in total liabilities, and a total stockholders' equity of $115.1 million. VIVAKOR INC: CFO Resigns Over Alleged Breach of Employment Contract ------------------------------------------------------------------- Vivakor, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Board of Directors received notice from Tyler Nelson, the Company's Chief Financial Officer and Member of the Board of Directors, of his resignation from such positions effective immediately. According to Mr. Nelson's letter of resignation from the Board of Directors, his decision to resign was due, in part, to disagreements with the Company regarding its financial review, authorization and reporting processes and policies and certain of its strategic decisions, as well as the Company's alleged failure to timely implement appropriate measures to address the material weaknesses in the Company's internal controls discussed in its public filings. Mr. Nelson delivered notice of his resignation as Chief Financial Officer of Vivakor Administration and the Company for "good reason" pursuant to his Executive Employment Agreement with Vivakor Administration, LLC, alleging that Vivakor Administration, LLC had materially breached such agreement, diminished his responsibilities, and that the Company was in breach of obligations owed pursuant to that certain Promissory Note dated June 8, 2024 made to the order of Mr. Nelson. These allegations are now under review by the Company and Vivakor Administration and they intend to provide a timely response to the same. Vivakor Administration, LLC is a direct wholly-owned subsidiary of Vivakor. About Vivakor Coralville, Iowa-based Vivakor, Inc. is a socially responsible operator, acquirer, and developer of technologies and assets in the oil and gas industry, as well as related environmental solutions. Currently, the Company's efforts are primarily focused on operating crude oil gathering, storage and transportation facilities, as well as contaminated soil remediation services. Pittsburgh, Penn.-based Urish Popeck & Co., LLC, the Company's auditor since 2024, issued a "going concern" qualification in its report dated April 15, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company has a significant working capital deficiency, suffered significant recurring losses from operations, and needs to raise additional funds to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. As of Dec. 31, 2024, the Company had $241 million in total assets, $125.9 million in total liabilities, and a total stockholders' equity of $115.1 million. WAG! GROUP: Seeks Approval to Hire Ordinary Course Professionals ---------------------------------------------------------------- Wag! Group Co., and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Delaware to employ non-bankruptcy professionals in the ordinary course of business. The Debtors need ordinary course professionals to perform services for matters unrelated to these Chapter 11 cases. The Debtors seek to pay OCPs 100 percent of the fees and expenses incurred. The Debtors do not believe that any of the OCPs have an interest materially adverse to them, their estates, creditors, or other parties in interest in connection with the matter upon which they are to be engaged. The OCPs include: Baker Tilly US, LLP 4807 Innovate Lane Madison, WI 53707 -- Tax Preparation Barnes & Thornburg LLP 11 S Meridian St Indianapolis, IN 46204 -- Patent Counsel Effectus Group LLC 1735 Technology Drive San Jose, CA 95110 -- Public Company Advisory Gateway Group, Inc. 4685 Macarthur Court Newport Beach, CA 92660 -- Public Relations Latham & Watkins LLP 140 Scott Drive Menlo Park, CA 90425 -- Securities Counsel Lewis Brisbois Bisgaard & Smith, LLP 633 West 5th Street, Suite 4000 Los Angeles, CA 90071 -- Litigation Counsel Littler Mendelson P.C. 101 Second St San Francisco, CA 94105 -- Litigation Counsel MBK Chapman PC 120 Vantis Drive Aliso Viejo, CA 92656 -- Litigation Counsel Nixon Peabody LLP 1300 Clinton Square Rochester, NY 14604 -- General Counsel Orrick, Herrington & Sutcliffe LLP P.O Box 848066 Los Angeles, CA 90084 -- Litigation Counsel PricewaterhouseCoopers LLP 4040 West Boy Scout Boulevard Tampa, FL 33607 -- Audit, Public Company Reporting ZwillGen PLLC 1900 M Street, NW Washington, D.C. 20036 -- General Counsel About Wag! Group Co. Wag! Group Co. is a San Francisco-based digital platform that connects pet owners with dog walkers, sitters, and various pet care professionals. Wag! Group and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11358) on July 21, 2025. In its petition, Wag! Group disclosed between $10 million and $50 million in both estimated assets and liabilities. The Debtors are represented by Young Conaway Stargatt & Taylor, LLP and Latham & Watkins, LLP, Nixon Peabody, and Littler Mendelson PC. Epiq Corporate Restructuring LLC is the Debtors' claims and noticing agent. WAG! GROUP: Seeks to Hire Epiq as Claims and Noticing Agent ----------------------------------------------------------- Wag! Group Co. and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Delaware to employ Epiq Corporate Restructuring LLC as claims and noticing agent. Epiq will oversee the distribution of notices and will assist in the maintenance, processing, and docketing of proofs of claim filed in the Chapter 11 cases of the Debtors. The hourly rates of the firm's professionals are as follows: IT/Programming $65 – $85 Case Managers $85 – $175 Project Managers/Consultants/Directors $175 – $190 Solicitation Consultant $195 Executive Vice President, Solicitation $195 The Debtors provided Epiq a retainer in the amount of $25,000. Kathyrn Tran, a consulting director at Epiq, 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: Kathryn Tran Epiq Corporate Restructuring, LLC 777 Third Avenue, 12th Floor New York, NY 10017 About Wag! Group Co. Wag! Group Co. is a San Francisco-based digital platform that connects pet owners with dog walkers, sitters, and various pet care professionals. Wag! Group and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11358) on July 21, 2025. In its petition, Wag! Group disclosed between $10 million and $50 million in both estimated assets and liabilities. The Debtors are represented by Young Conaway Stargatt & Taylor, LLP and Latham & Watkins, LLP, Nixon Peabody, and Littler Mendelson PC. Epiq Corporate Restructuring LLC is the Debtors' claims and noticing agent. WELTY SERVICES: Hires FoxLaw Corporation as General Counsel ----------------------------------------------------------- Welty Services LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire FoxLaw Corporation Inc. to serve as general counsel in its Chapter 11 case. The firm will provide these services: (a) analyze the Debtor's financial situation and advise on the appropriate bankruptcy filing; (b) render legal advice regarding the Debtor's operations and management during bankruptcy; (c) assist in preparing and filing the petition, schedules, statements of financial affairs, and related pleadings; (d) represent the Debtor at the Initial Debtor Interview and First Meeting of Creditors; (e) represent the Debtor in court matters involving its assets, liabilities, and financial affairs; (f) represent the Debtor in adversary proceedings involving prepetition transfers, preferences, turnover actions, and liens; (g) assist with negotiations and court approval for post-petition financing; (h) represent the Debtor regarding the use of cash collateral; (i) assist with assumption or rejection of executory contracts and leases; (j) prepare and seek confirmation of a plan and disclosure statement; (k) address objections to claims and claim allowances; (l) assist with post-confirmation matters related to plan implementation; and (m) handle other core and related matters, excluding tax or securities advice. The firm will be paid at these rates: $700 per hour for Steven R. Fox, $650 per hour for Barry R. Wegman, and $200 per hour for paralegal support The Debtor paid a $50,000 retainer, from which $14,471.70 was applied prepetition. The balance of $35,528.30 remains in trust. FoxLaw Corporation is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Steven R. Fox, Esq. FOXLAW CORPORATION INC. 17835 Ventura Blvd., Suite 306 Encino, CA 91316 Telephone: (818) 774-3545 Telecopier: (818) 774-3707 About Welty Services LLC Welty Services, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 25-80315) on July 10, 2025, listing between $1 million and $10 million in assets and liabilities. The petition was signed by Donnie Welty Jr. as managing member. Judge Alfredo R. Perez oversees the case. The Debtor is represented by: Genevieve Marie Graham, Esq. Genevieve Graham Law, PLLC Tel: (832) 367-5705 E-mail: ggraham@graham-pllc.com -- and -- Steven Robert Fox, Esq. Attorney At Law Tel: (818) 774-3545 E-mail: emails@foxlaw.com WFO LLC: Trustee Seeks to Tap South Texas as Real Estate Broker --------------------------------------------------------------- Mark Andrews, the trustee appointed in the Chapter 11 case of WFO, LLC, seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to employ South Texas Realty LLC as real estate broker. The trustee needs a real estate broker to sell the Debtor's property located at 133 Ash Parkway, La Vernia, Texas. The firm will receive a total commission of 6 percent upon closing and funding of any sale, inclusive of any sale, inclusive of any co-brokers or brokers for a buyer. Karen Gulick, a real estate agent at South Texas 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: Karen Gulick South Texas Realty LLC 5683 US-Hwy. 181 N. Floresville, TX 78114 Telephone: (830) 393-0000 About WFO, LLC WFO, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. W.D. Tex. Case No. 24-50824) on May 6, 2024. In the petition signed by Frank Shumate, president, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. The Debtor tapped James S. Wilkins, PC as counsel and Trinity River Advisors, LLC as accountant. WFO LLC: Trustee Seeks to Tap Trinity River Advisors as Accountant ------------------------------------------------------------------ Mark Andrews, the trustee appointed in the Chapter 11 case of WFO, LLC, seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to employ Trinity River Advisors, LLC as accountant. The firm will render these services: (a) prepare monthly operating reports; (b) assist logistics, such as obtaining security in connection with the sale in March of the concrete batch plant; and (c) analyze and evaluate estate's remaining assets and the liquidation of those assets. The firm will be paid at these discounted hourly rates: Robert Vincill $500 Martin Zacharias $500 The firm represents no interest adverse to the Debtor or to the estate on the matters upon which it is to be engaged. The firm can be reached at: Trinity River Advisors, LLC 325 N. Saint Paul St., Ste. 3600 Dallas, TX 75021 About WFO, LLC WFO, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. W.D. Tex. Case No. 24-50824) on May 6, 2024. In the petition signed by Frank Shumate, president, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. The Debtor tapped James S. Wilkins, PC as counsel and Trinity River Advisors, LLC as accountant. WHITEHALL PHARMACY: Seeks to Hire Davidson Law Firm as Counsel -------------------------------------------------------------- Whitehall Pharmacy LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Arkansas to employ Davidson Law Firm as counsel. The firm will provide these services: (a) advise the Debtor regarding its rights and obligations under the Bankruptcy Code; (b) represent the Debtor in matters before the Bankruptcy Court; (c) prepare necessary pleadings, motions, and applications; (d) assist with the formulation and confirmation of a Chapter 11 plan; and (e) perform such other legal services as may be required in the course of the bankruptcy case. Charles Darwin Davidson, Sr., Esq., an attorney at Davidson Law Firm, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Charles Darwin Davidson, Sr., Esq. Davidson Law Firm 724 Garland Street Little Rock, AR 72201 Telephone: (501) 374-9977 Email: deven.harvison@dlf-ar.com About Whitehall Pharmacy Whitehall Pharmacy LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Ark. Case No. 25-12406) on July 21, 2025, listing up to $10 million in both assets and liabilities. Judge Phyllis M. Jones oversees the case. Charles Darwin Davidson, Sr., Esq., at Davidson Law Firm serves as the Debtor's counsel. WI-FI WHEELING: Seeks Court Approval to Hire Bankruptcy Counsel --------------------------------------------------------------- Wi-Fi Wheeling Dealing LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to employ Gregory Stern, Esq., Dennis Quaid, Esq., Monica O'Brien, Esq., and Rachel Sandler, Esq., attorneys practicing in Chicago, Ill. The attorneys will render these services: (a) review assets, liabilities, loan documentation, account statements, executory contracts, and other relevant documentation; (b) prepare list of creditors, list of twenty largest unsecured creditors, schedules and statement financial affairs; (c) advise the Debtor of its powers and duties in the operation and management of its financial affairs; (e) prepare applications to employ attorneys, accountants or other professional persons, motions for turnover, motion for use of cash collateral, motions for use, or lease of property, motion to assume or reject executory contracts, plan, applications, motions, complaints, answers, orders, reports, objections to claims, legal documents and any other necessary pleading in furtherance of reorganizational goals; (f) negotiate with creditors and other parties in interest, attend court hearings, meetings of creditors and meetings with other parties in interests; (g) review proofs of claim and solicitation of creditors' acceptances of plan; and (h) perform all other legal services for the Debtor which may be necessary or in furtherance of its reorganizational goals. The hourly rates of the attorneys are: Gregory K. Stern, Esq. $650 Dennis E. Quaid, Esq. $550 Monica C. O'Brien, Esq. $550 Rachel S. Sandler, Esq. $450 The attorneys agreed to receive a special purpose retainer of $26,738 from the Debtor prior to filing. Mr. Stern 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: Gregory K. Stern, Esq. Dennis E. Quaid, Esq. Monica C. O'Brien, Esq. Rachel S. Sandler, Esq. 53 West Jackson Boulevard, Suite 1442 Chicago, IL 60604 Telephone: (312) 427-1558 About Wi-Fi Wheeling Dealing Wi-Fi Wheeling Dealing LLC is a single asset real estate entity that owns an office complex at 1400 S. Wolf Road in Wheeling, Illinois. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-10181) on July 2, 2025. In the petition signed by Isaac J. Weiss, manager, the Debtor disclosed $13 million in total assets and $9.1 million in total liabilities. Judge Donald R. Cassling oversees the case. Gregory Stern, Esq., Dennis Quaid, Esq., Monica O'Brien, Esq., and Rachel Sandler, Esq., represent the Debtor as counsel. WILDFANG HOLDINGS: Hires Wildfang Holdings as Bankruptcy Counsel ---------------------------------------------------------------- Wildfang Holdings LLC seeks approval from the U.S. Bankruptcy Court for the District of Oregon to hire Elevate Law Group as its general bankruptcy counsel. The firm's services include: (i) consulting with it concerning the administration of the case; (ii) advising it with regard to its rights, powers and duties as a debtor in possession; (iii) investigating and, if appropriate, prosecuting on behalf of the estate claims and causes of action belonging to the estate, (iv) advising it concerning alternatives for restructuring its debts and financial affairs pursuant to a plan or, if appropriate, liquidating its assets; and (v) preparing the bankruptcy schedules, statements and lists required to be filed by the Debtor under the Bankruptcy Code and applicable procedural rules. The current hourly rates are: Nicholas J. Henderson, Partner $540 Alex C. Trauman, Partner $540 Troy G. Sexton, Partner $465 Jeremy Tolchin, Associate $450 Sean Glinka, Associate $450 Ryan Ripp, Associate $310 Noah Maurer, Associate $310 Leona Yazdidoust, Associate $290 Paralegals $210 Legal Assistants $195 The initial retainer amount shall be $25,000. As disclosed in the court filings, Elevate Law Group is a disinterested person within the meaning of Sec. 101(14) of the Bankruptcy Code and does not represent or hold any interest adverse to the interests of the estate or of any class of creditors or equity security holders. The firm can be reached through: Nicholas J. Henderson, Esq. Elevate Law Group 6000 Meadows Road, Suite 450 Lake Oswego, OR 97035 Tel: (503) 417-0500 Fax: (503) 417-0501 Email: nick@elevatelawpdx.com About Wildfang Holdings LLC Wildfang Holdings LLC is a single-asset real estate company that owns and leases a commercial restaurant and bar property located in Eugene, Oregon. Wildfang Holdings LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ore. Case No. 25-61981) on July 16, 2025. In its petition, the Debtor reports total assets of $1,600,000 and total liabilities of $786,313. Honorable Bankruptcy Judge Thomas M. Renn handles the case. The Debtor is represented by Nicholas J. Henderson, Esq. at ELEVATE LAW GROUP. WINDTREE THERAPEUTICS: Secures $520M for BNB Treasury Strategy -------------------------------------------------------------- Windtree Therapeutics, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that it entered into a Common Stock Purchase Agreement with an equity line investor, whereby the Company has the right, but not the obligation, to sell to the Purchaser, and the Purchaser is obligated to purchase, up to the lesser of: (i) $500 million of newly issued shares of the Company's common stock, par value $0.001 per share and (ii) the Exchange Cap. The Company does not have a right to commence any sales of Common Stock to the Purchaser under the Purchase Agreement until the time when all of the conditions to the Company's right to commence sales of Common Stock to the Purchaser set forth in the Purchase Agreement have been satisfied, including that a registration statement covering the resale of such shares is declared effective by the SEC and the final form of prospectus contained therein is filed with the SEC. The Company must also increase the number of its authorized shares of Common Stock prior to making sales under the Purchase Agreement. Over the 36-month period from and after the Commencement Date, the Company will control the timing and amount of any sales of Common Stock to the Purchaser. Actual sales of shares of Common Stock to the Purchaser under the Purchase Agreement will depend on a variety of factors to be determined by the Company from time to time, including, among others, market conditions, the trading price of the Common Stock and determinations by the Company as to the appropriate sources of funding and the Company's operations. At any time from and after the Commencement Date, on any business day on which the closing sale price of the Common Stock is equal to or greater than $0.50 (the "VWAP Purchase Date"), the Company may direct the Purchaser to purchase an additional number of shares of Common Stock in an amount up to the VWAP Purchase Maximum Amount (as defined in the Purchase Agreement) (a "VWAP Purchase") at a purchase price equal to 96.5% of the lowest sale price of the Common Stock on the applicable VWAP Purchase Date; provided, however, that if the resulting price is less than $0.50 (to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction), then the percentage applied shall be 90% instead of the 96.5%. The Purchaser shall make the VWAP Purchase on the trading day it receives the VWAP Purchase Notice so long as the VWAP Purchase Notice is received after 6:00 a.m. New York City time but prior to 9:00 a.m. New York City time. In no event shall the Company issue to the Purchaser under the Purchase Agreement more than 19.99% of the total number of shares of Common Stock outstanding immediately prior to the execution of the Purchase Agreement (the "Exchange Cap"), unless: (i) the Company obtains the approval of the issuance of such shares by its stockholders in accordance with the applicable stock exchange rules or (ii) the average price of all applicable sales of Common Stock are made at a price equal to or in excess of the lower of (A) the closing price on the Nasdaq Capital Market on July 23, 2025 and (B) the average of the closing prices of the Common Stock for the five business days immediately preceding July 23, 2025, such that the sales of such Common Stock to the Purchaser would not count toward the Exchange Cap because they are "at market" under applicable stock exchange rules. * Convertible Promissory Note As consideration for the Purchaser's irrevocable commitment to purchase shares of Common Stock upon the terms of and subject to satisfaction of the conditions set forth in the Purchase Agreement, concurrently with the execution and delivery of the Purchase Agreement, the Company issued a convertible promissory note to the Purchaser in the amount of $10,000,000. The Commitment Note matures on April 23, 2026 and will bear interest at 5% per annum on a 365-day basis, due and payable on the Maturity Date. Upon the occurrence of an Event of Default (as defined in the Commitment Note) the Purchaser, by written notice, may declare the Commitment Note to be due immediately and payable, which payment shall consist of the unpaid principal balance, together with any accrued and unpaid interest, if any. The Purchaser, in its sole discretion and upon written notice to the Company may convert all or a portion of the entire unpaid principal balance of the Commitment Note, together with all accrued and unpaid interest, if any (the "Conversion Amount") into a number of shares of Common Stock (such shares of Common Stock, the "Note Shares") equal to (x) the Conversion Amount divided by, as of the date of such conversion notice or other date of determination, the lesser of: (i) a 20% discount to the lowest intraday sale price of the Common Stock as traded on the principal market on July 23, 2025 and (ii) a 20% discount to the lowest intraday sale price of the Common Stock as traded on the principal market during the 20 trading days immediately preceding the date of such conversion notice, subject to adjustment as provided in the terms of the Commitment Note. * Registration Rights Agreement Concurrent with the execution of the Purchase Agreement, the Company entered into a registration rights agreement with the Purchaser. Pursuant to the Registration Rights Agreement, the Company agreed to file a registration statement with the Securities and Exchange Commission covering the resale of the Shares and the Note Shares, on or before the 45th calendar day following the Closing Date (as defined in the Purchase Agreement) and to cause such registration statement to be declared effective by the SEC on or before the 60th calendar day following the Filing Date (as defined in the Registration Rights Agreement), subject to limited exceptions described therein. The registration rights granted under the Registration Rights Agreement are subject to certain conditions and limitations and are subject to customary indemnification and contribution provisions. In a press release, the company also announced that it entered into an additional $20 million stock purchase agreement with Build and Build Corp. Ninety-nine percent of the proceeds from the ELOC and Build and Build Corp will be allocated to acquiring BNB cryptocurrency. The ELOC may not be used until the Company has obtained stockholder approval to increase its authorized shares of common stock. "We are excited to incorporate these new facilities to enable our future BNB acquisitions as part of our BNB treasury strategy," stated Jed Latkin, CEO of Windtree. "Pending stockholder approval, the opportunity to secure additional funds for purchasing more BNB cryptocurrency is essential to our strategy." Establishing the ELOC reflects Windtree's strategy to diversify its treasury assets and leverage the potential of blockchain-based digital currencies. The Company remains committed to prudent financial management while exploring innovative avenues to drive stockholder value. "Windtree's strategy to integrate BNB into its treasury reflects a forward-thinking approach to value creation," said Patrick Horsman, CFA, Director of Build and Build Corp. "The ELOC provides the flexibility and scale needed to execute on this digital asset treasury vision." About Windtree Therapeutics Headquartered in Warrington, Pennsylvania, Windtree Therapeutics, Inc. -- windtreetx.com -- is a biotechnology company focused on advancing early and late-stage innovative therapies for critical conditions and diseases. The Company's portfolio of product candidates includes: (a) istaroxime, a Phase 2 candidate that inhibits the sodium-potassium ATPase and also activates sarco endoplasmic reticulum Ca2+ -ATPase 2a, or SERCA2a, for acute heart failure and associated cardiogenic shock; preclinical SERCA2a activators for heart failure; rostafuroxin for the treatment of hypertension in patients with a specific genetic profile; and a preclinical atypical protein kinase C iota, or aPKCi, inhibitor (topical and oral formulations), being developed for potential application in rare and broad oncology indications. The Company also has a licensing business model with partnership out-licenses currently in place. Philadelphia, Pennsylvania-based EisnerAmper LLP, the company's auditor since 2022, issued a "going concern" qualification in its report dated April 15, 2025, 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 expects to incur losses for the foreseeable future, that raise substantial doubt about its ability to continue as a going concern. As of Dec. 31, 2024, Windtree Therapeutics had $27.9 million in total assets, $14.7 million in total liabilities, $3.2 million in total mezzanine equity, and a total shareholders' equity of $10 million. WOLFSPEED INC: Seeks to Tap Ordinary Course Professionals --------------------------------------------------------- Wolfspeed, Inc. and its affiliate Wolfspeed Texas LLC seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to retain and compensate various professionals in the ordinary course of business during their Chapter 11 proceedings. The Debtors' Ordinary Course Professionals include: AYNA CONSULTING Consultant BAKER & HOSTETLER LLP Attorney / Legal BAKER & MCKENZIE LLP Attorney / Legal BARCLAY DAMON LLP Attorney / Legal BORCHERS HALL HATFIELD PURKS & Attorney / Legal WALL PLLC (DBA SAGE PATENT GROUP) BRISTOWS LLP Attorney / Legal COATS & BENNETT PLLC Attorney / Legal DELOITTE CONSULTING, LLP Consultant DELOITTE TAX LLP Accountant DLA PIPER UK LLP Attorney / Legal DORITY & MANNING, P.A. Attorney / Legal DUCHARME MCMILLIEN (DMA) Accountant EDWARD S. FINLEY JR., PLLC Attorney / Legal ENNS & ARCHER LLP Attorney / Legal FENWICK AND WEST LLP Attorney / Legal FORTNEY & SCOTT Attorney / Legal FTI CONSULTING (GOVERNMENT Consultant AFFAIRS) LLC FTI CONSULTING (SC) INC. Consultant GITTI AND PARTNERS Attorney / Legal GRANT THORNTON Accountant INNOVATIVE FEDERAL STRATEGIES, LLC Consultant K&L GATES LLP Attorney / Legal KILPATRICK TOWNSEND & STOCKTON LLP Attorney / Legal KINGSTON, MARTINEZ & HOGAN, LLP Attorney / Legal LARKIN TRADE INTERNATIONAL LLC Consultant LITTLER MENDELSON, P.C. Attorney / Legal MCKINSEY & COMPANY Consultant MGG LEGAL Attorney / Legal MYERS BIGEL SIBLEY & SAJOVEC Attorney / Legal OSBORNE CLARKE LLP Attorney / Legal PINSENT MASONS Attorney / Legal PRICEWATERHOUSE COOPERS LLP Accountant QUARLES & BRADY LLP Attorney / Legal QUINN EMANUEL URQUHART & Attorney / Legal SULLIVAN LLP RSM US LLP Accountant SALMON, RICCHEZZA, SINGER & TURCHI Attorney / Legal SANDLER TRAVIS & ROSENBERG PA Attorney / Legal SMITH, ANDERSON, BLOUNT, LLP Attorney / Legal THE VOGEL GROUP, LLC Consultant TRADEWINS LLC (JOHN MAGNUS) Consultant WILLIAMS MULLEN CLARK & DOBBINS PC Attorney / Legal WILMER CUTLER PICKERING HALE Attorney / Legal AND DORR LLP (DBA WILMERHALE) WOMBLE BOND DICKINSON (US) LLP Attorney / Legal The professionals will be compensated in accordance with their standard billing practices, subject to monthly caps as detailed in the Ordinary Course Professional Schedule. Any compensation exceeding the monthly caps will require the professional to file a Notice of Fees in Excess and may trigger an objection period before payment. All professionals will be required to file a Declaration of Disinterestedness certifying they do not hold any interest adverse to the Debtors or their estates. Compensation and retention will be deemed approved if no objections are received within ten days of the declaration's filing. These professionals are considered "disinterested persons" as required by the Bankruptcy Code. The firms leading the engagement can be reached at: Timothy A. Davidson II, Esq. Ashley L. Harper, Esq. Philip M. Guffy, Esq Hunton Andrews Kurth LLP 600 Travis Street, Suite 4200 Houston, TX 77002 Telephone: (713) 220-4200 Emails: taddavidson@hunton.com ashleyharper@hunton.com pguffy@hunton.com - and - Ray C. Schrock, Esq. Alexander W. Welch, Esq. Keith A. Simon, Esq. Eric L. Einhorn, Esq. Latham & Watkins LLP 1271 Avenue of the Americas New York, NY 10020 Telephone: (212) 906-1200 Emails: ray.schrock@lw.com alex.welch@lw.com keith.simon@lw.com eric.einhorn@lw.com About Wolfspeed Inc. Wolfspeed, Inc. is an innovator of wide bandgap semiconductors, focused on silicon carbide materials and devices for power applications. Its product families include silicon carbide materials and power devices targeted for various applications such as electric vehicles, fast charging and renewable energy and storage. On June 30, 2025, Wolfspeed, Inc. and Wolfspeed Texas, LLC each filed petitions seeking relief under chapter 11 of the United States Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90163), with Judge Christopher M. Lopez presiding. The Debtors sought Chapter 11 protection after reaching a deal with lenders on a debt-for-equity plan that would reduce debt by $4.6 billion. Latham & Watkins LLP and Hunton Andrews Kurth LLP are serving as legal counsel to Wolfspeed, Perella Weinberg Partners is serving as financial advisor and FTI Consulting is serving as restructuring advisor. Epiq is the claims agent. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to the senior secured noteholders and Moelis & Company is serving as the senior secured noteholders' financial advisor. Kirkland & Ellis LLP is serving as legal counsel to Renesas Electronics Corporation, PJT Partners is serving as its financial advisor, and BofA Securities is serving as its structuring advisor. Ropes & Gray LLP is serving as legal counsel to the convertible debtholders and Ducera Partners is serving as financial advisor to the convertible debtholders. WOODCREST CONDOMINIUMS: Hires Whiteford Taylor as Legal Counsel --------------------------------------------------------------- Woodcrest Condominiums IX, LLC seeks approval from the U.S. Bankruptcy Court for the District of Columbia to hire Whiteford, Taylor & Preston L.L.P. to serve as legal counsel in its Chapter 11 case. Whiteford will provide these services: (a) provide the Debtor and Debtor-in-Possession legal advice with respect to its powers and duties in these proceedings; (b) represent the Debtor in defense of any proceedings instituted by creditors; (c) prepare necessary applications, answers, orders, reports, and other legal papers, and appear on the Debtor's behalf in proceedings instituted by or against the Debtor; (d) assist the Debtor in the preparation of schedules, statement of financial affairs, and amendments thereto; (e) assist the Debtor in the preparation of a plan or sale of assets that complies with the Bankruptcy Code; (f) assist with other legal matters including securities, corporate, real estate, tax, intellectual property, employee relations, general litigation, and bankruptcy legal work; and (g) perform all other legal services which may be necessary or desirable in the bankruptcy case. Whiteford, Taylor & Preston L.L.P. will be compensated on an hourly basis for services rendered, plus reimbursement of actual and necessary expenses, subject to court approval. The firm is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Brent C. Strickland, Esq. WHITEFORD, TAYLOR & PRESTON L.L.P. 8830 Stanford Blvd., Suite 400 Columbia, MD 21045 Telephone: (410) 347-9402 E-mail: bstrickland@whitefordlaw.com About Woodcrest Condominiums IX LLC Woodcrest Condominiums IX LLC is a residential real estate company that appears to develop or manage condominium properties in Washington, DC, operating under the Woodcrest Villas brand. The company maintains its principal place of business at 454-460 Woodcrest Drive SE in Washington, DC, with its primary operations in residential building construction as indicated by its NAICS code 2361. Woodcrest Condominiums IX LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.C. Case No. 25-00265) on July 9, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Judge Elizabeth L. Gunn oversees the case. The Debtors are represented by Brent C. Strickland, Esq. at Whiteford Taylor & Preston L.L.P. ZAHAV VENTURES: Seeks to Hire Better Mgmt as Property Manager ------------------------------------------------------------- Zahav Ventures LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to employ Better Mgmt LLC as property manager. The firm will manage, operate and maintain the Debtor's residential home properties, negotiate leases, collect rents, prepare budgets, and oversee needed repairs and upkeep. The firm will be compensated on a rate of $104 per unit each month, a separate fee relating to renovation of individual properties and reimbursement of certain expenses. Benjamin Eidlisz, a managing partner at Better Mgmt, 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 Eidlisz Better Mgmt LLC 3500 Boston Street, #319 Baltimore, MD 21224 About Zahav Ventures LLC Zahav Ventures LLC is involved in real estate-related activities. Its principal asset is located in Baltimore, Maryland. Zahav Ventures sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-22536) on June 17, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million. The Debtor is represented by Kevin Nash, Esq., at Goldberg Weprin Finkel Goldstein LLP. ZEN JV: Hires Latham & Watkins LLP as Legal Counsel --------------------------------------------------- ZEN JV LLC seeks approval from the U.S. Bankruptcy Court for the District of Delaware to hire Latham & Watkins LLP to serve as its legal counsel. Latham & Watkins will provide these services: (a) advise the Debtors with respect to their powers and duties as debtors in possession in the continued management and operation of their businesses and properties; (b) advise and consult on the conduct of the Chapter 11 Cases, including all legal and administrative requirements of operating in chapter 11; (c) advise and represent the Debtors in protecting and preserving the estates, including litigation and settlement negotiations; (d) analyze and object to claims filed against the Debtors; (e) assist in obtaining authority for use of cash collateral and debtor-in-possession financing; (f) attend and negotiate with creditors and other stakeholders; (g) analyze contracts and leases and potential assumption, assignment, or rejection; (h) prepare all necessary legal pleadings, motions, and reports; (i) advise in connection with any asset sales; (j) assist in obtaining approval of a disclosure statement and confirmation of a Chapter 11 plan; (k) appear in court as necessary to represent the estates’ interests; (l) advise on corporate, litigation, tax, employee benefits, and other legal issues; and (m) perform all other necessary legal services in connection with the Chapter 11 Cases. Latham's hourly rates vary based on attorney seniority and experience and are subject to periodic adjustments. According to court documents, the firm’s fees for prepetition services were paid through a $1.85 million advance, which has been fully earned and applied. Latham & Watkins LLP is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Ray C. Schrock, Esq. Candace M. Arthur, Esq. LATHAM & WATKINS LLP 1271 Avenue of the Americas New York, NY 10020 Telephone: (212) 906-1200 Facsimile: (212) 751-4864 Email: ray.schrock@lw.com candace.arthur@lw.com - and - Jonathan C. Gordon, Esq. LATHAM & WATKINS LLP 330 North Wabash Avenue, Suite 2800 Chicago, IL 60611 Telephone: (312) 876-7700 Email: jonathan.gordon@lw.com - and - Daniel J. DeFranceschi, Esq. Zachary I. Shapiro, Esq. Huiqi Liu, Esq. Clint M. Carlisle, Esq. Colin A. Meehan, Esq. RICHARDS, LAYTON & FINGER, P.A. One Rodney Square 920 North King Street Wilmington, DE 19801 Telephone: (302) 651-7700 Email: defranceschi@rlf.com shapiro@rlf.com liu@rlf.com carlisle@rlf.com meehan@rlf.com About Zen JV LLC Zen JV, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11195) on June 24, 2025, listing up to $100 million in assets and up to $500,000 in liabilities. Jeff Furman, chief executive officer of Zen JV, signed the petition. Judge Kate Sickles oversees the case. Zachary I. Shapiro, Esq., at Richards, Layton & Finger, P.A., is the Debtor's legal counsel. JMB Capital Partners Lending, LLC, as DIP lender, is represented by Matthew B. Lunn, Esq., and Robert F. Poppiti, Jr., Esq. of Young Conaway Stargatt & Taylor, LLP, and Robert M. Hirsh, Esq., and James A. Copeland, Esq. of Norton Rose Fulbright US LLP. The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors in the Chapter 11 cases of Zen JV, LLC and its affiliates. ********* 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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