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260708.mbx T R O U B L E D C O M P A N Y R E P O R T E R Wednesday, July 8, 2026, Vol. 30, No. 189 Headlines 205 61ST STREET: Case Summary & Two Unsecured Creditors 30 EAST 40TH: Seeks 90-Day Extension of Plan Filing Deadline 4US CORP: Seeks Approval to Hire Saulius Modestas as Counsel 501 JERSEY: Hires James E. Hanson Inc. as Real Estate Broker 63 SPRING: Seeks to Sell NY Property at Auction 7Q59 AMHERST: Court Extends Cash Collateral Access to Sept. 24 948-52 W. WEBSTER: Gets Interim OK to Use Cash Collateral ACTIVE SPINE: Seeks to Hire Turner Legal Group LLC as Counsel ADVISORS GROUP: Case Summary & 20 Largest Unsecured Creditors ADWEB2022 LLC: Voluntary Chapter 11 Case Summary AIBH GROUP: Gets Final OK to Use Cash Collateral ALEXCO-USA INC: Gets Final OK to Use Cash Collateral ALLSTAR PROPERTIES: Gets Final OK to Use Cash Collateral ALLSTAR PROPERTIES: To Sell Rome Property to RamCam Holdings AMERIGUARD SECURITY: Debts Exceed Assets by $3.5M at Dec. 31 AQUABOUNTY TECHNOLOGIES: Raises $2.25M via Preferred Stock Offering ASATOR GLOBAL: Hires Mr. Perkinson of Sonoran Capital as CRO ASATOR GLOBAL: Seeks to Hire Allen Jones & Giles PLC as Counsel BELLATX2023 LLC: Gets Interim OK to Use Cash Collateral BERKSHIRE LAND: Seeks Chapter 11 Bankruptcy in New York BEXIN REALTY: Trustee Hires Fox Rothschild LLP as Counsel BIT ORIGIN: Liabilities Exceed Assets by $1.1M at Dec. 31 BLAKE EMERGENCY: Gets Final OK to Use Cash Collateral BOREALIS FOODS: Liabilities Exceed Assets by $22.7M at March 31 C.D.S. MOVING: Seeks to Extend Plan Exclusivity to Sept. 25 CELINA TOTAL: Gets Final OK to Use Cash Collateral CHASSEUR REALTY: Case Summary & Eight Unsecured Creditors CHRONOSCALE CORP: Board Expands to Eight Members CHS FL: Court OKs Continued Use of Cash Collateral CICC & SONS: Seeks to Extend Plan Exclusivity to Sept. 28 CICCARELLI & SONS: Seeks 90-Day Extension of Plan Filing Deadline CLEAN ENERGY: Expands Board With Two New Directors CORE AI HOLDINGS: Q1 Net Loss Widens to $3.63MM, Revenue Falls 74% DAIRY BUILDING: Court OKs Portland Property Sale to Multiple Buyers DAN LEPORE: Hires MillerSearles LLC as Tax Return Preparer DAVID ARTHUR SHABSELS: July 9 Deadline for Panel Questionnaires DAVIS KITCHEN: Gets Final OK to Use Cash Collateral DEALER SOURCE: Seeks to Hire Steve Smith CPA as Accountant DEGROFF RX: Hires Jeffrey Hellman LLC as Attorney DISH DBS: Commences Prepackaged Ch. 11 to Facilitate Debt Repayment ECHOSTAR CORP: Charles Ergen Maintains 51% Stake as of June 26 ENCORE D.E.C.: Case Summary & Seven Unsecured Creditors ENCORE DEC: Hires Andersen Beede Weisenmiller as Attorney ENERGY TRANSFER: S&P Assigns 'BB+' Rating to 2026A/B Jr. Sub Notes F O & O INC: Gets Final OK to Use Cash Collateral FIGURE TECHNOLOGY: S&P Assigns 'B+' Long-Term ICR, Outlook Stable FINANCE OF AMERICA: Majority Stockholders OK Charter Amendment FU BANG: Hires Cox Castle & Nicholson LLP as Special Counsel GABBY INVESTMENT: To Sell East Haverhill Property GOLDENPEAKS POLAND: Bid Rules for Energy Biz Asset Sale OK'd HILTON GRAND: S&P Assigns 'BB' Rating on Proposed Term Loan B HIS WAY SIGN: Seeks Chapter 11 Bankruptcy in North Carolina ICORECONNECT INC: Trustee Hires Cadence Consulting as Consultant ICORECONNECT INC: Trustee Taps Stretto Inc. as Distribution Agent IMAGINATION ENTERPRISES: Gets Extension to Access Cash Collateral INTEGRITY IRON: Files Chapter 11 Bankruptcy to Avert Receivership INTERNATIONAL SUPPORT: Plan Exclusivity Period Extended to Sept. 30 INTRUSION INC: Completes Initial Acquisition of 60% of OW Cyber IWC JACKSONVILLE: Seeks Chapter 11 Bankruptcy in Florida J.A. CARRILLO: Hires Carney Badley Spellman as Special Counsel JASNIA REALTY: Court Extends Cash Collateral Access to Aug. 6 JAY'S PRIME: Gets Final OK to Use Cash Collateral Until Dec. 31 JS&A FIRE: Seeks to Hire Demarco Mitchell PLLC as Counsel KASTER MOVING: Hearing Today on Bid to Use Cash Collateral KING'S ACADEMY: Unsecured Creditors to Split $8,100 over 3 Years LENA BRANDS: Seeks to Hire DASG Tax & Business as Accountant LEXORA INC: Hearing Today to Extend Post-Petition Factoring Deal LUGINBILL CONSTRUCTION: Case Summary & 18 Unsecured Creditors LUGINBILL CONSTRUCTION: Seeks Chapter 11 Bankruptcy in Ohio MICHAEL AARON SHABSELS: July 9 Deadline for Panel Questionnaires MVP REALTY: Case Summary & 18 Unsecured Creditors NMR ENTERPRISES: Plan Exclusivity Period Extended to Oct. 5 NOISE ENTERTAINMENT: Gets Final OK to Use Cash Collateral NORTHERN OIL: Fitch Affirms 'BB-' LongTerm IDR, Outlook Stable OLENOX INDUSTRIES: FY25 Loss Widens to $18.8M as Revenue Drops 41% PACIFICA OF THE VALLEY: Case Summary & 30 Unsecured Creditors PATRICK INDUSTRIES: Fitch Puts 'BB' LongTerm IDR on Watch Positive PCR AGAWAM: To Sell Agawam Property to Ahmet & Canan Gunay PECO ELECTRIC: Seeks to Hire Cheek Legal PLLC as Counsel PETSMART LLC: S&P Alters Outlook to Stable, Affirms 'B+' ICR PHOENIX RACK: Case Summary & Eight Unsecured Creditors PMR LLC: Commences Chapter 11 Bankruptcy in New York PNP LLC: Seeks Chapter 11 Bankruptcy in Colorado POWER LANE: Section 341(a) Meeting of Creditors on July 28 RAY'S PIZZA: Gets Interim OK to Use Cash Collateral Until Aug. 25 REGIS COLLEGE: S&P Affirms 'BB' ICR Then Withdraws Rating REMEMBER ME: Gets Extension to Access Cash Collateral REVOLVING KITCHEN: Hires Demarco Mitchell PLLC as Counsel RM FERRANTE: Taps Bernstein Shur Sawyer & Nelson as Counsel ROCKY MOUNTAIN: Al Harper Named Interim CEO for 180-Day Term ROLLING TANK: Seeks Chapter 11 Bankruptcy in Pennsylvania ROOTED ENTERPRISE: Seeks to Hire LKG Realty Advisors as Broker ROYAL PRODUCT: Seeks Chapter 11 Bankruptcy in Puerto Rico RUM SUGAR: Seeks Subchapter V Bankruptcy in Nevada SANTA PAULA: Hires as Evans Appraisal Service Inc. as Appraiser SCILEX HOLDING: Adds 1.3M Shares to 2022 Equity Incentive Plan SEA OAKS: Case Summary & Four Unsecured Creditors SEA PALMS: Case Summary & Four Unsecured Creditors SEA PALMS: Initiates Chapter 11 Bankruptcy in South Carolina SEARLES VALLEY: Hire Ankura Consulting as Restructuring Advisors SEARLES VALLEY: Hires Lazard Freres & Co. as Investment Banker SEARLES VALLEY: Hires Pachulski Stang Ziehl & Jones as Co-Counsel SEARLES VALLEY: Hires Skadden Arps Slate Meagher as Counsel SEARLES VALLEY: Hires Stretto Inc. as Administrative Advisor SENMIAO TECHNOLOGY: Debts Exceed Assets by $4.5M at Dec. 31 SILVER STAR: Court Extends Cash Collateral Access to July 20 SIREN SISTERS: Seeks to Hire Susan D. Lasky as Legal Counsel SLEEP NUMBER: Seeks to Hire A&G Realty Partners as Consultant SPANISH BROADCASTING: Court Confirms Joint Prepack Chapter 11 Plan SPORTSCAPERS CONSTRUCTION: Voluntary Chapter 11 Case Summary STROMA MEDICAL: Taps SC&H Group Inc. as Financial Advisor STUDENT TRANSPORTATION: S&P Assigns 'B+' Rating on Term Loan B SYN-LT BUYER: Seeks Chapter 11 Bankruptcy in Texas TAEHYUN HOLDINGS: Supplements DeKalb Property Sale TALOS PRODUCTION: Moody's Rates New Secured Second Lien Notes 'B3' TAMBURO LTD: Gets Final OK to Use Cash Collateral TEXAS AUTO: Seeks to Approval to Tap JMS CPAs PLLC as Accountant TOP QUALITY: Seeks to Hire Engelman Berger P.C. as Counsel TOPBUILD CORP: S&P Lowers ICR to 'BB-' on Acquisition by QXO Inc TRAYJOCKEY ENTERPRISES: Gets Final OK to Use Cash Collateral TRINITY INDUSTRIES: Fitch Affirms 'BB' LongTerm IDR, Outlook Stable TRUMBULL LLC: S&P Assigns 'BB-' Rating on $625MM Sr. Secured Debt UMZU LLC: Court Extends Cash Collateral Access to July 31 USA CRICKET: Gets OK for Settlement Deal, Mutual Release, Financing VE LAKEVIEW: Freddie Mac Seeks Receivership for Apartment Complex VECTOR WP: S&P Withdraws 'B' Long-Term Issuer Credit Rating VERACRUZ INVESTMENT: Gets Final OK to Use Cash Collateral VIVAKOR INC: Adapti Special Dividend Payment Reset to Sept. 5 VIVAKOR INC: All Nine Proposals Approved at Annual Meeting VIVAKOR INC: New Cushing Deal Pushes Contracted Revenue to $420M WILDWOOD PHASE: Seeks Chapter 11 Bankruptcy in Florida WORKHORSE GROUP: All Four Proposals Approved at Annual Meeting ********* 205 61ST STREET: Case Summary & Two Unsecured Creditors ------------------------------------------------------- Debtor: 205 61st Street Flats, LLC 5614 Connecticut Ave #134 Washington, DC 20015 Business Description: 205 61st Street Flats is a Washington, D.C.- based single-asset real estate company that owns and leases two detached multifamily apartment buildings at 205 and 209 61st Street NE in the city's Deanwood area. Chapter 11 Petition Date: June 6, 2026 Court: United States Bankruptcy Court District of Columbia Case No.: 26-00329 Judge: Hon. Elizabeth L. Gunn Debtor's Counsel: Jeffery T. Martin, Jr., Esq. MARTIN LAW GROUP PC 8065 Leesburg Pike, Suite 750 Vienna, VA 22182 Tel: (703) 223-1822 E-mail: jeff@martinlawgroup.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Richard Cunningham as managing member. A full-text copy of the petition, which includes a list of the Debtor's two unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/PLTPJJA/205_61st_Street_Flats_LLC__dcbke-26-00329__0001.0.pdf?mcid=tGE4TAMA 30 EAST 40TH: Seeks 90-Day Extension of Plan Filing Deadline ------------------------------------------------------------ 30 East 40th, L.L.C. asked the U.S. Bankruptcy Court for the Southern District of New York to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof for additional ninety days. The Debtor notes that when determining whether cause exists for an extension of the Exclusive Periods, courts have relied on a variety of factors, each of which may provide sufficient grounds for granting such extension. The Debtor explains that applying the factors to the facts and circumstances of this case demonstrates that the requested extension is appropriate. * On the first factor, while the Debtor's case involves a single asset, the issues presented are not simple. Implementing the parties' agreed CRO structure, marketing and selling a multi tenant Class B office building through a Court-supervised sale process, and confirming an amended plan distributing the proceeds all require significant preparation and judicial attention. The complexity of the sale and confirmation process supports an extension of the Exclusive Periods. * On the second factor, additional time is plainly necessary. The amended Disclosure Statement is scheduled to be considered on July 28, 2026, after which votes can be solicited and a confirmation hearing scheduled. The CRO must also complete the marketing and sale of the Property under the agreed structure before the amended Plan can be consummated. The requested extension affords the time necessary to complete these steps. * On the third factor, the Debtor is making good-faith progress toward reorganization. The Debtor filed a Plan and Disclosure Statement early in the case, participated in mediation, and consensually resolved the trustee and exclusivity disputes through the agreed retention of an independent CRO. The CRO has since filed an amended Plan and Disclosure Statement, scheduled a hearing on the amended Disclosure Statement, and filed and is finalizing the retention applications necessary to market and sell the Property. * On the fourth factor, the Debtor is generally paying its administrative obligations as they come due. The fourth factor supports an extension. * On the fifth factor, the Debtor has demonstrated reasonable prospects for a viable plan. The Debtor has filed a liquidating plan proposing a sale of the Property with net proceeds distributed to parties in accordance with their priorities. The Property has an estimated value sufficient to pay the secured mortgage claim of Apple Bank in full. A liquidating chapter 11 plan is a "viable plan" for purposes of this factor. * On the sixth factor, the Debtor has made substantial negotiating progress. Although the mediation did not resolve the parties' disputes, the Debtor, the Penner Estate, and the Friedland Trust negotiated and agreed to the CRO structure embodied in the CRO Order, which resolved the trustee motion and the objection to the Debtor's first exclusivity request. The Debtor remains committed to consensual resolution as the sale and confirmation process moves forward. 30 East 40th L.L.C. is represented by: Mark Frankel, Esq. Backenroth Frankel & Krinsky, LLP 488 Madison Avenue, Floor 23 New York, NY 10022 Tel: (212) 593-1100 About 30 East 40th, L.L.C. 30 East 40th L.L.C. is a single asset real estate company. 30 East 40th L.L.C. filed for relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-12696) on Dec. 2, 2025. In its petition, the Debtor listed assets between $10 million and $50 million and liabilities in the same range. Bankruptcy Judge Michael E. Wiles handles the case. The Debtor is represented by Mark A. Frankel, Esq. of Backenroth Frankel & Krinsky, LLP. 4US CORP: Seeks Approval to Hire Saulius Modestas as Counsel ------------------------------------------------------------ 4US Corp, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to employ Saulius Modestas, Esq. of Modestas Law Offices, P.C. to serve as bankruptcy counsel. The firm will provide these services: (a) negotiation with creditors; (b) preparation of an amended plan and financial statements; (c) examining and resolving claims filed against the estate; (d) preparation of pleadings filed in the case; (e) interaction with the trustee in this case; (f) attendance at court hearings; and (g) otherwise to represent the Debtor in matters before the Court. Saulius Modestas, Esq. will receive an hourly rate of $595 per hour. The Debtor has agreed to make initial payment of $15,000 to counsel upon the granting of this application. Saulius Modestas, Esq. believes he does not hold or represent an interest adverse to the Estate, and that he is a "disinterested person" within the meaning of Sec. 327(a) of the Bankruptcy Code. The firm can be reached at: Saulius Modestas, Esq. Modestas Law Offices, P.C. 401 S. Frontage Road, Ste. C Burr Ridge, IL 60527 Telephone: (312) 251-4460 E-mail: smodestas@modestaslaw.com About 4US Corp Inc. 4US Corp, Inc. operates as a transportation and logistics company, providing freight hauling services through ownership of commercial trucks and trailers, including Freightliner trucks and Wabash, Dorsey, Mac, Fontaine, Hyundai, and Eagle trailers. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-01936) on Feb. 2, 2026. In the petition signed by Eli Malikovsky, president, the Debtor disclosed $3,118,000 in total assets and $9,253,165 in total liabilities. Judge Timothy A. Barnes oversees 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. 501 JERSEY: Hires James E. Hanson Inc. as Real Estate Broker ------------------------------------------------------------ 501 Jersey Avenue LLC seeks approval from the United States Bankruptcy Court for the Eastern District of New York to hire James E. Hanson, Inc. D/B/A NAI James E. Hanson to serve as real estate broker. The Debtor is the owner of the real property known as and located at 501 Jersey Avenue in New Brunswick, New Jersey. The firm will provide these services: (a) market the Real Property in order to identify and locate a bona fide third-party purchaser; and (b) assist the Debtor with the marketing and sale of the Real Property, subject to approval by the Court. James E. Hanson, Inc. D/B/A NAI James E. Hanson will be entitled to a broker commission of either $250,000 if the gross sale price of the Real Property is less than $55,000,000, or $500,000 if the gross sale price of the Real Property is $55,000,000 and over, provided that the contract of sale closes. James E. Hanson, Inc. D/B/A NAI James E. Hanson 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: Peter O. Hanson JAMES E. HANSON, INC. D/B/A NAI JAMES E. HANSON 195 North Street, Suite 100 Teterboro, NJ 07608 About 501 Jersey Avenue LLC 501 Jersey Avenue LLC is a limited liability company engaged in property-related holdings and operations. 501 Jersey Avenue LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-41683) on April 08, 2026. In its petition, the Debtor reports estimated assets between $50 million and $100 million and estimated liabilities in the same range. Honorable Bankruptcy Judge Jil Mazer-Marino handles the case. The Debtor is represented by Brett Silverman, Esq., of Silverman Law PLLC. 63 SPRING: Seeks to Sell NY Property at Auction ----------------------------------------------- 63 Spring Lafayette LLC seeks permission from the U.S. Bankruptcy Court for the District of New Jersey, to sell Property at auction, free and clear of liens, claims, interests, and encumbrances. The Debtor's Property is located at 63 Spring Street, New York, New York 10012. The Debtor is a New York limited liability company formed in connection with its acquisition of the Property. The Property is a mixed-use five-story building located in the SoHo neighborhood in Lower Manhattan, a sought-after district with a high level of pedestrian traffic. When the Property was purchased, it housed a bodega and Mexican restaurant as well as several live/work residential units. It has since undergone a renovation of approximately $5,000,000 consisting of a sizable redevelopment and a thorough property renovation, including a new facade and roof, grade A appliances throughout the building, central heating and cooling, and sprinklers. The Property is currently leased to Baked by Melissa (Baked Fourteenth LLC) and The Green Room by Blank Street (Blank Street Inc.), and also contains four high-end residential units, a billboard leased to Outdoor Media Holdings, and a cell tower leased to Nextel of New York, Inc. The lienholders of the Property are Compass Bank, Wells Fargo Bank, National Association, CD 2019-CD8 Spring Street, LLC. The Debtor retains Northgate Real Estate Group as real estate broker. The Debtor desires to receive the greatest value for the Property. The Bidding Procedures were developed consistent with the Debtor's objective of promoting active bidding that will result in the highest and best offer the marketplace can sustain for the Property. Moreover, the Bidding Procedures reflect the Debtor's objective of conducting the Auction in a controlled, but fair and open, fashion that promotes interest in the Property by financially-capable, motivated bidders who are likely to close a transaction, while simultaneously discouraging non-serious offers and offers from persons the Debtor does not believe are sufficiently capable or likely to actually consummate a transaction. The Debtor submits that the Bidding Procedures are reasonably designed to ensure that the Debtor's estate receives the maximum purchase price for the Property, and warrants Court approval. The Debtor submits that thee notice procedures satisfy the requirements of Bankruptcy Rule 6004 and request that the Court approve the same. The Debtor submits that following the Auction, the highest bidder will reflect that the ultimate purchase price is fair and reasonable and reflects the market value for such Property. About 63 Spring Lafayette 63 Spring Lafayette, LLC is a single-asset real estate company that owns a mixed-use property at 63 Spring Street in New York, New York, comprising residential and commercial space. 63 Spring Lafayette filed Chapter 11 petition (Bankr. D. N.J. Case No. 26-12619) on March 10, 2026, with between $10 million and $50 million in both assets and liabilities. Judge Christine M. Gravelle oversees the case. Eric H. Horn, Esq., at A.Y. Strauss, LLC, is the Debtor's legal counsel. 7Q59 AMHERST: Court Extends Cash Collateral Access to Sept. 24 -------------------------------------------------------------- 7Q59 Amherst, LLC received another extension from the U.S. Bankruptcy Court for the District of Massachusetts to use cash collateral. The court issued a proceeding memorandum and order authorizing the Debtor's interim use of cash collateral through Sept. 24 under the same terms and conditions. The Debtor was ordered to file by Sept. 17 a projected budget for September, October and November; and a reconciled budget showing actual to projected income and expenses for the period ending Aug. 31, as well as beginning and ending bank balances monthly. The next hearing is scheduled for Sept. 24. 7Q59's cash collateral consists of rentals from its two properties: a 12-unit apartment complex at 1-23 Eastern Avenue, Northampton, Mass., and a single-family rental at 11 South Whitney Street, Amherst, Mass. The 1-23 Eastern Avenue property is valued at $2.1 million while the 11 South Whitney Street property is valued at $430,000. Greenfield Cooperative Bank holds a first mortgage on both properties totaling an estimated $1.6 million. Greenfield Cooperative Bank, as secured creditor, is represented by: Jerry B. Plumb, Jr., Esq. O'Connell & Plumb, P.C. 75 Market Place Springfield, MA 01115 Phone: (413) 733-9111 Fax: (413) 733-9888 jplumb@ocpllaw.com About 7Q59 Amherst LLC 7Q59 Amherst, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 25-30150) on March 17, 2025, listing up to $10 million in both assets and liabilities. Xian Dole, manager of 7Q59 Amherst, signed the petition. Judge Elizabeth D. Katz oversees the case. Louis S. Robin, Esq., at Law Offices of Louis S. Robin, represents the Debtor as bankruptcy counsel. 948-52 W. WEBSTER: Gets Interim OK to Use Cash Collateral --------------------------------------------------------- 948-52 W. Webster, LLC received interim approval from the U.S. Bankruptcy Court for the Northern District of Illinois to use its lender's cash collateral to fund operations. Under the interim order, the Debtor is authorized to use the cash collateral of Byline Bank from June 23 through July 31 or upon entry of a final order, whichever occurs first. As adequate protection, Byline Bank will receive automatically perfected replacement liens on the Debtor's post-petition personal property, including cash proceeds, accounts receivable, goods, contract rights, and chattel paper, to the extent of any diminution in the value of its pre-petition collateral. The bank will also receive payments as provided in the approved budget. Events of default include exceeding the permitted budget variance, making unauthorized payments, failing to make adequate protection payments, appointment of a trustee, conversion or dismissal of the Debtor's Chapter 11 case. Upon default, Byline Bank may seek expedited relief, including termination or limitation of the Debtor's authority to use cash collateral. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/m57bN from PacerMonitor.com. The next hearing is scheduled for July 21. Byline Bank issued the Debtor two promissory notes: one dated September 6, 2024, with an original principal balance of $1,651,974.62, and another dated October 27, 2025, with an original principal balance of $250,000.00. The notes are secured by recorded mortgages, assignments of rents, and a UCC-1 financing statement filed with the Illinois Secretary of State covering, among other collateral, inventory, equipment, accounts, deposit accounts, money, payment rights, and their proceeds. Byline, as lender, is represented by: Andrew H. Eres, Esq. Dickinson Wright, PLLC 71 S. Wacker Drive, Suite 2700 Chicago, IL 60606 Phone: 312-377-7891 aeres@dickinson-wright.com About 948-52 W. Webster LLC 948-52 W. Webster, LLC is a limited liability company that owns and manages real estate assets. 948-52 W. Webster sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-10520) on June 23, 2026. In its petition, the Debtor reported between $1 million and $10 million in both assets and liabilities. Honorable Bankruptcy Judge Deborah L. Thorne handles the case. The Debtor is represented by E. Philip Groben III, Esq., at Gensburg Calandriello & Kanter, P.C. ACTIVE SPINE: Seeks to Hire Turner Legal Group LLC as Counsel ------------------------------------------------------------- Active Spine Physical Therapy, LLC seeks approval from the U.S. Bankruptcy Court for the District of Nebraska to employ Turner Legal Group, LLC as counsel. The firm will provide these services: a. performing all necessary services as Debtor's bankruptcy counsel, including, without limitation, providing Debtor with advice, representing Debtor, and preparing necessary documents on behalf of Debtor in the areas of restructuring and bankruptcy; b. advising Debtor with respect to its powers and duties as debtor-in-possession in the continued management and operation of its businesses and properties; c. attending meetings and negotiating with creditors and other parties in interest; d. taking all necessary action to protect and preserve Debtor's assets, including the prosecution of actions on behalf of Debtor's estate, the defense of any actions commenced against Debtor's estate, negotiations concerning litigation in which Debtor may be involved, and objections to claims filed against Debtor's estate; e. preparing, or coordinating preparation of motions, applications, answers, orders, reports, papers and other pleadings necessary to administer Debtor's estate; f. taking any necessary action on behalf of Debtor to obtain approval of a disclosure statement and confirmation of a plan of reorganization on behalf of Debtor; g. representing Debtor in connection with any potential post-petition financing; h. appearing before this Court, appellate courts and any other courts to protect the interests of Debtor and its estate; and i. performing any and all other necessary legal services in connection with Debtor's case and reorganization as requested by Debtor. The firm will be paid at these rates: Patrick Turner, Esq. $175 to $175 to 360 per hour. The firm will be paid a retainer in the amount of $11,738. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Turner disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Patrick Turner, Esq. Turner Legal Group, LLC 9375 Burt Street, #200 Omaha, NE 68114 Telephone: (402) 690-3675 Email: pturner@turnerlegalomaha.com About Active Spine Physical Therapy LLC Active Spine Physical Therapy, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Neb. Case No. 26-80704) on June 15, 2026, with $50,001 to $100,000 in assets and $500,001 to $1 million in liabilities. Patrick Raymond Turner, Esq., at Turner Legal Group, LLC represents the Debtor as legal counsel. ADVISORS GROUP: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------- Debtor: Advisors Group General Contractors Corp. Ave. Roberto Sanchez Vilella GL-19 URB. Country Club Carolina, PR 00982 Business Description: Advisors Group General Contractors Corp. is a Carolina, Puerto Rico-based general contractor that provides commercial and residential construction, remodeling, project management, and related engineering services. Chapter 11 Petition Date: July 2, 2026 Court: United States Bankruptcy Court District of Puerto Rico Case No.: 26-03091 Debtor's Counsel: Javier Vilarino, Esq. VILARINO AND ASSOCIATES LLC P.O. Box 9022515 San Juan, PR 00902 Tel: (787) 565-9894 E-mail: jvilarino@vilarinolaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Modesto Estrada Diaz as president. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/MKD3U4A/ADVISORS_GROUP_GENERAL_CONTRACTORS__prbke-26-03091__0001.0.pdf?mcid=tGE4TAMA ADWEB2022 LLC: Voluntary Chapter 11 Case Summary ------------------------------------------------ Debtor: ADWEB2022, LLC 7454 Old Hickory Blvd Whites Creek, TN 37189 Business Description: ADWEB2022 LLC owns a fleet of titled vehicles consisting primarily of Prevost X3-45 and Prevost XL2 models, with model years ranging from 2005 to 2024. Chapter 11 Petition Date: June 30, 2026 Court: United States Bankruptcy Court Middle District of Tennessee Case No.: 26-02520 Judge: Hon. Randal S Mashburn Debtor's Counsel: Michael G. Abelow, Esq. SHERRARD ROE VOIGT & HARBISON, PLC 1600 West End Avenue, Suite 1750 Nashville, TN 37203 Tel: (615) 742-4532 E-mail: mabelow@srvhlaw.com Total Assets: $14,342,095 Total Liabilities: $10,577,484 The petition was signed by Amanda Stophel as manager/member. The Debtor has declared in the petition that it has no unsecured creditors. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/ZYSCXZY/ADWEB2022_LLC__tnmbke-26-03145__0001.0.pdf?mcid=tGE4TAMA AIBH GROUP: Gets Final OK to Use Cash Collateral ------------------------------------------------ AIBH Group, Inc. received final approval from the U.S. Bankruptcy Court for the Northern District of Georgia to use cash collateral to fund operations. Under the final order, the Debtor is authorized to continue using cash collateral from June 25 until the earliest of the appointment of a Chapter 11 trustee (excluding the Subchapter V trustee); dismissal or conversion of the Debtor's bankruptcy case to Chapter 7; an uncured default under the final order; or further court order. The Debtor may vary individual budget line items by up to 15%, carry forward unused amounts, and pay actual utility, tax, insurance, and sales commission expenses when required. As adequate protection, the U.S. Small Business Administration, Itria Ventures, Headway Capital and creditors represented by CT Corporation System and Corporate Service Company will be granted replacement liens to the extent their valid, perfected pre-petition security interests are diminished by the Debtor's use of cash collateral. The replacement liens attach to post-petition inventory, equipment, accounts receivable, and other collateral of the same type, but exclude Chapter 5 avoidance actions. The Debtor must also continue operating its business, maintain required property insurance, timely pay post-petition property taxes and any budgeted adequate protection payments, while all cash collateral remains subject to the creditors' existing lien priorities. Events of default include failure to comply with the budget, maintain insurance, pay taxes or adequate protection payments, preserve collateral, remain in business, or satisfy reporting obligations. Following notice and an opportunity to cure, an uncured default may terminate the Debtor's authority to use cash collateral and permit secured creditors to seek expedited relief from the automatic stay. The order preserves all parties' rights to contest lien validity, priority, perfection, and claim amounts. The order is available at http://bankrupt.com/misc/AIBHGroup_FCCOrder39.pdf About AIBH Group Inc. AIBH Group, Inc., doing business as SuperiorPRO, is a Kennesaw, Georgia-based residential exterior renovation contractor that provides windows, siding, doors, painting, roofing, gutters and stucco services to homeowners in metro Atlanta. The company, which has operated since 1998, serves residential customers in Atlanta, Kennesaw, Marietta and surrounding Georgia communities. AIBH Group filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-57250) on June 1, 2026, with up to $50,000 in assets and $1 million to $10 million in liabilities. Tamara Miles Ogier, Esq., at Ogier, Rothschild & Rosenfeld, PC serves as Subchapter V trustee. Leslie M. Pineyro, Esq., at Jones and Walden, LLC represents the Debtor as legal counsel. ALEXCO-USA INC: Gets Final OK to Use Cash Collateral ---------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of California entered a final order authorizing Alexco-USA Inc. to use cash collateral until confirmation of a Chapter 11 plan of reorganization. Under the final order, the Debtor is authorized to use cash collateral to pay operating expenses in accordance with the court-approved budget. The Debtor may exceed any individual budget line item by up to 15% per calendar month without further court approval. Any expenditures beyond the approved budget and permitted variances require either the secured creditors' written consent or a further order of the court. Unused amounts in any budget category may also be carried forward to future budget periods. As adequate protection, secured creditors including Leaf Capital Funding, LLC, PIRS Capital, LLC, CHTD Company, and C T Corporation System and Corporation Service Company, as representatives, will be granted replacement liens on all post-petition assets of the Debtor to the extent of any diminution in the value of their collateral. The replacement liens maintain the same priority, validity, and extent as the creditors' pre-petition security interests and become automatically perfected upon entry of the order, eliminating the need for additional financing statements or lien filings. The order also directed banks and other financial institutions holding the Debtor's funds to immediately release them for use under the approved cash collateral budget. Financial institutions were also instructed to disregard any pre-petition directions from secured lenders requiring turnover of the Debtor's funds, ensuring that the Debtor retains control of its cash collateral during the Chapter 11 reorganization process. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/lRwXm from PacerMonitor.com. About Alexco-USA Inc. Alexco-USA Inc. is a privately held company with limited publicly available information, potentially engaged in commercial or industrial operations. Alexco-USA sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Calif. Case No. 26-01810) on April 30, 2026. In its petition, the Debtor reported assets of up to $100,000 and liabilities of between $1 million and $10 million. Judge Christopher B. Latham oversees the case. The Debtor is represented by Michael Jay Berger, Esq., at the Law Offices of Michael Jay Berger. ALLSTAR PROPERTIES: Gets Final OK to Use Cash Collateral -------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Georgia entered a final order authorizing Allstar Properties, LLC and its affiliates to continue using cash collateral through Dec. 31. Under the final order, the Debtors are authorized to use cash collateral solely to pay operating expenses in accordance with the court-approved budgets, subject to a 10% variance per line item. The Debtors are not allowed to use cash collateral to pay pre-petition debts without further court approval. Lenders with potential security interests in the properties and rents include Bank of America N.A., AgSouth Farm Credit ACA, and Synovus Bank. As adequate protection for any diminution in the value of their collateral, the lenders will be granted replacement liens on post-petition assets of the same character, extent, validity, and priority as their pre-petition liens. If the protection proves insufficient, lenders may seek additional relief, including administrative expense claims under Section 507(b), relief from the automatic stay, or other remedies available under bankruptcy law. Additional safeguards include maintaining insurance on all properties, filing monthly operating reports, providing biweekly sales updates, and furnishing supporting financial records upon request. Lenders were also granted inspection rights regarding their collateral, related operations, and property appraisals. The order preserves all parties' rights regarding lien validity, priority, and treatment under any future reorganization plan or asset sale. If a lender alleges a default under the order, the Debtors will have 10 business days to cure after receiving notice; otherwise, their authority to use cash collateral may be suspended pending further court action. A copy of the court's order is available at https://shorturl.at/KRbua from PacerMonitor.com. Bank of America is represented by: William A. DuPre, IV, Esq. Clayton A. Smith, Esq. Miller & Martin, PLLC Regions Plaza, Suite 2100 1180 West Peachtree Street NW Atlanta, GA 30309 bill.dupre@millermartin.com clayton.smith@millermartin.com AgSouth is represented by: Roy E. Manoll, III, Esq. Fortson, Bentley and Griffin, PA 2500 DaniellÃ¢â‚¬â„¢s Bridge Rd. Building 200, Suite 3A Athens, GA 30606 (706) 548-1151 rem@fbglaw.com About Allstar Properties LLC Allstar Properties, LLC and affiliates are Georgia-based real estate companies that hold and manage property assets. The Allstar entities focus on property ownership, while ACH Rental Properties provides property management and rental services. Collectively, they operate within the real estate sector across residential and nonresidential properties in the state. The Debtors sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Lead Case No. 25-41314) on August 31, 2025. In its petition, Allstar Properties reported between $10 million and $50 million in both assets and liabilities. Honorable Bankruptcy Judge Barbara Ellis-Monro handles the cases. The Debtors tapped Anna Mari Humnicky, Esq., at Small Herrin, LLP as bankruptcy counsel; Smith Gambrell & Russell, LLP as tax audit and appeals counsel; and Frazier & Deeter Advisory, LLC as audit and appeal accountant. ALLSTAR PROPERTIES: To Sell Rome Property to RamCam Holdings ------------------------------------------------------------ Allstar Properties I, LLC (ASPI) seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia, Rome Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. ASPI is Georgia limited liability company. ASPI owns certain commercial properties that it rents to business tenants throughout the northwest corner of the State of Georgia, in Floyd, Haralson and/or Polk Counties. Where applicable, ASPI collects rent on the Commercial Properties. ASPI has stated an intention to sell its real property holdings in order to pay its debts including prior to the filing of a Chapter 11 plan. The Debtor retains CBRE to market 210 East 2nd Ave, Rome (Floyd County), GA. ASPI as the seller, CBRE, as the broker for ASPI, and RamCam Holdings, LLC, or its assignee, as the purchaser, entered into Commercial Purchase and Sales Agreement wherein the Buyer agreed to purchase the Property including all furniture and fixtures which have become part of the Property and those that are located in a residential unit within the Property for $2,425,000. The Purchase Price was the result of marketing campaign by CBRE. CBRE and ASPI assert that the Purchase Price is the fair market value of the Property and the highest and best price attainable by ASPI. The Property secures an approximate $4,500,000 debt to Bank of America. CBRE is to receive a 5% commission on the gross sale amount of the Property, to be paid at closing. In this case, and should the Court approve the sale, the commission due to CBRE will be $121,250.00. The net sale proceeds from the Property shall be used to paydown the amounts owed to BOA related to the Lien. The Debtor believes that the Proceeds constitute fair market value for the Property and will maximize value to the Estate. About Allstar Properties LLC Allstar Properties LLC and affiliates are Georgia-based real estate companies that hold and manage property assets. The Allstar entities focus on property ownership, while ACH Rental Properties provides property management and rental services. Collectively, they operate within the real estate sector across residential and nonresidential properties in the state. Allstar Properties LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-41314) on August 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge Barbara Ellis-Monro handles the case. The Debtor is represented by Anna Humnicky, Esq., at SMALL HERRIN, LLP. AMERIGUARD SECURITY: Debts Exceed Assets by $3.5M at Dec. 31 ------------------------------------------------------------ AmeriGuard Security Services, Inc.'s stockholder's deficit was US$3.5 million at Dec. 31, 2025. The stockholder's deficit was US$3.1 million at Dec. 31, 2024. At Dec. 31, 2025, the Company had total assets of US$8.2 million and total liabilities of US$11.8 million. At Dec. 31, 2024, the Company had total assets of US$9.8 million and total liabilities of US$12.9 million. AmeriGuard Security Services, Inc. stated that its principal sources of liquidity are cash from operations and proceeds from debt financing. For the year ended Dec. 31, 2025, operations generated a net cash decrease of $453,964, compared to a decrease of $2,611,537 in 2024. As of Dec. 31, 2025, the Company reported cash on hand of $728,915 and total current assets of $2,575,368. The Company reported that cash used in investing activities during 2025 was $346,273, while cash provided from financing activities was $886,071. It disclosed that the main source of cash from financing activities was short-term loans received in the amount of $3,994,097, and that financing activities usage included total loan payments of $3,391,108. The Company further noted that "our operating structure and current level of expense can handle twice the revenue with minor increases to our operating overhead expenses." The Company described a significant reliance on a revolving line of credit under a Government Purchase Order/Receivables Financing Agreement with List Government Receivables Fund, LLC (Legalist), with a maximum principal amount of $7,000,000 and an outstanding principal balance of $5,845,900 as of July 1, 2025. It reported that the lender declared an "Event of Default," imposed incremental 4.75% interest on all obligations, and that the Financing Agreement grants the lender "a continuing lien on and security interest in all assets of Borrower," with TransportUS, Inc. and Lawrence D. Garcia each guaranteeing the Company's obligations. The Company stated that, after an Event of Default, the lender may suspend or terminate advances and require immediate payment of all outstanding obligations, and that the borrower agrees to pay all costs of collection and defense, including attorneys' fees and costs, actually incurred by the lender. AmeriGuard disclosed that on July 2, 2025, Legalist informed the Company that, in light of the existing Event of Default, "it would not make any advances unless and until the default had been resolved to its satisfaction." The Company said: "As a result, the Company is unable to satisfy its July 10, 2025 payroll obligation, which will materially adversely affect the Company's results of operations and financial position." It further stated that, "as a result of the Lenders actions described above," on July 14, 2025, it formally notified federal contracting officers that it was required to forfeit three Social Security Administration contracts with combined stated annual revenues exceeding $15,000,000. The Company reported that on March 27, 2026, Legalist Government Receivables Fund, LP, and Legalist SPV III, LP filed a Notice of Motion for Summary Judgment in Lieu of Complaint in the Supreme Court of New York seeking entry of judgment against the Company, TransportUS, Inc., and Lawrence D. Garcia in the amount of $4,123,549.73, as well as attorneys' fees, costs, and expenses and further relief. It characterized "the major impact of the management dispute and interruption of the financing agreement" as "the loss of our operational fund source and the significant attorney fees we incurred," and noted that Legalist "was providing monthly cash for operations for our then six federal contracts." The Company also stated that all three elements of its 2026 strategic plan "require capital to accelerate success," and that "a large portion of the executive management team and the boards focus is exploring every opportunity to find a willing partner investor." A full-text copy of the Form 10-K is available at https://tinyurl.com/k7mfw47e About AmeriGuard Security Services AmeriGuard Security Services, Inc., provides armed guard services as a federal contractor with licenses in seven states and provides commercial guard services in California. AQUABOUNTY TECHNOLOGIES: Raises $2.25M via Preferred Stock Offering ------------------------------------------------------------------- AquaBounty Technologies, Inc. announced in a regulatory filing that it entered into securities purchase agreements with certain purchasers, pursuant to which the Company issued and sold 109,223 shares of the Company's Series B Convertible Preferred Stock, par value $0.01 per share, which are convertible into up to 2,184,460 shares of the Company's common stock, for aggregate cash consideration of $2,250,000 in a private placement. The Purchase Agreements closed on June 25, 2026. In connection with the Offering, the Company entered into a placement agency agreement with Univest Securities, LLC to serve as the placement agent, pursuant to which the Company agreed to pay Univest a fee equal to 7.0% of the gross proceeds received from the sale of the Series B Preferred Stock in the Offering. The Company intends to use the net proceeds from the Offering, after deducting fees to Univest and other estimated offering expenses, for working capital and general corporate purposes. The Series B Preferred Stock was designated pursuant to a Certificate of Designations filed by the Company with the Secretary of State of the State of Delaware on June 25, 2026. Material Terms of the Series B Preferred Stock Ranking. The Series B Preferred Stock ranks senior to the Company's common stock and all other junior equity securities with respect to dividends and distributions upon liquidation, dissolution or winding up. Dividends. Dividends will accrue on each share of Series B Preferred Stock at the rate of 18.0% per annum on a quarterly basis in arrears, calculated solely on the Liquidation Value. Dividends are payable in cash when declared on a bi-annual schedule (the last day of October and April), and the Board may permit dividends to accumulate rather than be paid on a Dividend Payment Date, subject to applicable law and exchange rules. No dividends (including accrued or accumulated dividends) may be payable or settleable in shares of common stock unless such issuance is permitted under applicable exchange rules. Partial dividend payments. If the Company pays less than the full amount of accrued and accumulated dividends, the amount paid must be distributed pro rata among holders based on the accrued and accumulated but unpaid dividends on the shares held by each holder. Liquidation preference / Change of Control. Upon any liquidation, dissolution or winding up, holders of Series B Preferred Stock are entitled to receive, before any distribution to junior securities, at the holder's election, either: (i) cash or (ii) non-cash consideration valued at fair market value as determined by the board in good faith, in each case equal to the aggregate Liquidation Value plus all unpaid accrued and accumulated dividends (whether or not declared). A change of control is treated as a liquidation and triggers the same preference. The Series B Preferred Stock is non-participating. Liquidation Value. The Liquidation Value per share is $20.60, subject to adjustment for stock splits, stock dividends, recapitalizations and similar transactions affecting the Series B Preferred Stock. Voting. Each share of Series B Preferred Stock votes together with the Common Stock as a single class on all matters submitted to stockholders, with each share having a number of votes equal to the number of shares of common stock into which it is then convertible (as of the applicable record date). Protective provisions. Without the prior written consent of holders of at least two-thirds of the outstanding Series B Preferred Stock voting as a separate class, the Company may not, among other things, authorize any security senior to the Series B Preferred Stock, make certain charter/bylaw/Series B Preferred Stock amendments, or redeem/repurchase or pay dividends/distributions on capital stock, subject to the exceptions stated in the Certificate of Designations. Conversion. Shares of Series B Preferred Stock are convertible at any time at the holder's election into that number of shares of common stock determined by: (i) multiplying the number of shares of Series B Preferred Stock (including any fraction of a share) to be converted by the Liquidation Value thereof, (ii) adding to the result all accrued and accumulated and unpaid dividends on such shares to be converted, and (iii) dividing the result by the conversion price per share, which is initially $1.03. In addition, subject to compliance with applicable exchange rules, the Company's Board of Directors may elect to defer payment of dividends on the Series B Preferred Stock, and such accrued and unpaid dividends may be converted into shares of common stock based on the applicable Conversion Price. Redemption. After the closing of a debt or equity financing resulting in proceeds to the Company in excess of $20,000,000, holders representing at least a two-thirds "Supermajority Interest" may require the Company to redeem all (but not less than all) outstanding shares for a per-share price equal to the applicable Liquidation Value plus all unpaid accrued and accumulated dividends (whether or not declared), subject to legally available funds. The redemption must occur within 90 days after the Company receives the election notice, and each holder may instead elect to convert its shares before the conversion election deadline specified in the redemption notice. Insufficient funds / nonpayment. If the Company lacks legally available funds on the redemption date, it must redeem the maximum number of shares it can redeem pro rata among holders and use later-available funds to redeem the remainder. If the Company does not pay the full redemption price when due, the unpaid amount bears interest at 18.0% per annum, and the unredeemed shares remain outstanding with continuing rights as provided in the Certificate of Designations. Breach remedies. Specified events constitute a "Series B Preferred Stock Breach," including failure to pay dividends when due, failure to make redemption or liquidation payments when due, breach of the protective provisions, and certain bankruptcy/insolvency events. During a continuing breach, the dividend rate increases by 3.0% per annum until cured, and upon certain bankruptcy/insolvency events all outstanding shares become subject to automatic redemption for the Series B redemption price to the extent permitted by law. Securities Exemption The shares of Series B Preferred Stock issued pursuant to the Purchase Agreements were issued in reliance upon the exemption from registration pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended, and/or Regulation D promulgated thereunder. The shares of Series B Preferred Stock were offered and sold in transactions not involving any form of general solicitation or advertising, and the recipients represented that they were accredited investors acquiring the securities for investment purposes. The Series B Preferred Stock and any shares of Common Stock issuable upon conversion thereof have not been registered under the Securities Act and may not be offered or sold absent subsequent registration or an applicable exemption from registration. Full text copies of the Purchase Agreements, the Placement Agency Agreement, and the Certificate of Designations are available at https://tinyurl.com/5536tm97, https://tinyurl.com/ydk9msfz, and https://tinyurl.com/muekrmzz, respectively. About AquaBounty AquaBounty Technologies, Inc., headquartered in Harvard, Massachusetts, develops genetically engineered Atlantic salmon and previously operated farms in Indiana and Canada, which it has sold along with associated intellectual property, trademarks, and patents. Its primary remaining asset is the Ohio Farm Project in the U.S., consisting of land, construction in progress, and equipment. The Company is focused on realizing the potential of this asset through new investment, partnerships, or other strategic options. In its audit report dated March 31, 2026, Deloitte & Touche LLP issued a "going concern" qualification citing that the Company has limited operating assets and incurred cumulative net losses that raise substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $10.2 million in total assets, $12.4 million in total liabilities, and $2.1 million in total stockholders' deficit. ASATOR GLOBAL: Hires Mr. Perkinson of Sonoran Capital as CRO ------------------------------------------------------------ Asator Global Technologies, LLC seeks approval from the U.S. Bankruptcy Court for the District of Arizona to employ Bryan Perkinson of Sonoran Capital Advisors as chief restructuring officer. The firm will provide these services: a. complete a financial review of Debtor, including but not limited to a review and assessment of financial information, short and long term b. identify and implement cost reduction and operations improvement opportunities as well as manage the Debtor's relationships with vendors and suppliers; c. develop a restructuring or liquidating plan or strategic alternatives intended to maximize the enterprise value of the Debtor; d. develop and implement cash management strategies, tactics and processes; e. direct the Debtor's counsel as to bankruptcy actions, and retain or terminate other professionals as necessary for the Debtor's benefit; f. liaise creditor constituencies; g. oversee the Debtor's budgeting, and assist with the creation of statements and schedules; h. manage the financial and operational dealings of the Debtor following the filing of the Chapter 11 bankruptcy petition; i. oversee and participate in initial debtor interview, meeting of creditors and other interaction with U.S. Trustee; j. oversee and sign monthly operating reports ("MOR"); k. evaluate and authorize the filing of a same motion, plan of reorganization or liquidation, and any other filings deemed necessary or appropriate to enhance the value of the Debtor's estate; l. evaluate and authorize the filing of any objections, complaints, or other litigation related filings deemed necessary or appropriate to enhance the value of the Debtor's estate; m. oversee the creation of plan and sale or settlement projections, analyses, and related court requirements; n. appear as the Debtor's corporate representative at any hearing or proceeding scheduled in the chapter 11 case; o. provide testimony as may be required in connection with any of the foregoing or may otherwise be required in a chapter 11 case; and p. perform such other services as may be reasonably requested by authorized personnel; provided however, that such services are not duplicative of work others are performing for the Debtor. The firm will be paid at these rates: Managing Director $595 to $495 per hour Director $425 per hour Senior Associate $325 per hour Associate $250 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Prior to the petition date, the firm received from the Debtor a retainer of $66,521.97. Bryan Perkinson, Esq., a partner at Sonoran Capital Advisors, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Bryan Perkinson, Esq. Sonoran Capital Advisors, LLC 1733 N. Greenfield Rd. Mesa, AZ 85205 Telephone: (480) 825-6650 Email: bperkinson@sonorancap.com About Asator Global Technologies LLC Asator Global Technologies LLC is a Mesa, Arizona-based technology company specializing in grid solutions and scientific research and development. Asator Global Technologies LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-06163) on June 23, 2026. In its petition, the debtor reported estimated assets and estimated liabilities ranging from $10 million to $50 million. Honorable Bankruptcy Judge Brenda K. Martin handles the case. The debtor is represented by Philip J. Giles of Allen, Jones & Giles, PLC. ASATOR GLOBAL: Seeks to Hire Allen Jones & Giles PLC as Counsel --------------------------------------------------------------- Asator Global Technologies, LLC seeks approval from the U.S. Bankruptcy Court for the District of Arizona to employ Allen, Jones & Giles, PLC as counsel. The firm's services include: a. advising the Debtor with respect to its duties as debtor-in-possession in the case; b. representing the Debtor in negotiations and/or litigation involving creditors and other parties in interest; c. attending hearings set by the Court on behalf of the Debtor; and d. preparing necessary pleadings, applications, orders, reports, plans, disclosure statements or other legal papers necessary to assist the Debtor in the Case. The firm will be paid at these rates: Philip J. Miles, Member $525 per hour David B. Nelson, Associate $425 per hour Ryan M. Deutsch, Associate $350 per hour Zachary A. Phillips, Associate $325 per hour Legal Assistants and Law Clerks $205 to 250 per hour The firm was paid a retainer in the amount of $135,478.03. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Miles, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Philip J. Giles, Esq. Allen, Jones & Giles, PLC 1850 N. Central Ave., Suite 1025 Phoenix, Arizona 85004 Tel: (602) 256-6000 Fax: (602) 252-4712 Email: pgiles@bkfirmaz.com About Asator Global Technologies LLC Asator Global Technologies LLC is a Mesa, Arizona-based technology company specializing in grid solutions and scientific research and development. Asator Global Technologies LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-06163) on June 23, 2026. In its petition, the debtor reported estimated assets and estimated liabilities ranging from $10 million to $50 million. Honorable Bankruptcy Judge Brenda K. Martin handles the case. The debtor is represented by Philip J. Giles of Allen, Jones & Giles, PLC. BELLATX2023 LLC: Gets Interim OK to Use Cash Collateral ------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Texas, Galveston Division, entered an interim order authorizing BellaTX2023, LLC to use the cash collateral of WaFd Bank while its Chapter 11 case proceeds. Under the interim order, the Debtor is authorized to use cash collateral strictly in accordance with its approved operating budget for May through September, allowing variances of up to 5% per budget line item and 10% overall. This authorization remains effective until the final hearing. The Debtor must deposit all post-petition cash and accounts receivable into designated debtor-in-possession accounts subject to WaFd Bank's liens, provide monthly bank statements and tenant payment reports, and notify the lender weekly of any unauthorized budget variances. As adequate protection, the court granted WaFd Bank automatically perfected replacement liens and security interests on substantially all post-petition assets that are co-extensive with its pre-petition collateral, including accounts receivable, inventory, deposit accounts, general intangibles, and related proceeds. The replacement liens do not apply to Chapter 5 avoidance actions, remain subordinate to taxing authorities' liens, and are subject to a limited carveout for U.S. Trustee fees. The Debtor is also required to make monthly payments of $25,000, beginning this month. Additional safeguards include maintaining insurance on the Debtor's assets and providing financial reports and access to records as required under the pre-petition loan documents. If the Debtor defaults under the order and fails to cure the default within five days after receiving notice, WaFd Bank may seek expedited relief from the automatic stay to enforce its rights. The order also preserves the lender's objections regarding projected budget shortfalls and provides that the lender will retain the protections of Section 552(b) of the Bankruptcy Code. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/dY9CF from PacerMonitor.com. A final hearing is scheduled for July 30, with objections due by July 23. About Bellatx2023 LLC Bellatx2023, LLC is believed to operate as a privately held company involved in investment, commercial holdings, or real estate-related business activities. Bellatx2023 sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-80329) on May 5, 2026. In its petition, the Debtor reported assets of between $10 million and $50 million and liabilities of between $10 million and $50 million. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. BERKSHIRE LAND: Seeks Chapter 11 Bankruptcy in New York ------------------------------------------------------- On June 19, 2026, Berkshire Land & Realty, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of New York. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to 1-49 creditors. About Berkshire Land & Realty LLC Berkshire Land & Realty, LLC owns mixed-use real property in Patterson, New York, located at 2714 Route 22, 3-27 Lopane Drive, and 39 Lopane Drive. The property consists of three lots totaling approximately 30 acres and includes three rental houses, a 3,000-square-foot commercial nursery, and two greenhouses. The property has an appraised value of approximately $2.14 million. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. N.Y. Case No. 26-35653) on June 19, 2026. In the petition signed by Jesus Flores, managing member, the Debtor disclosed $2,145,800 in total assets and $1,722,300 in total liabilities. Judge Kyu Young Paek oversees the case. Michelle L. Trier, Esq., at Genova, Malin & Trier, LLP, represents the Debtor as legal counsel. BEXIN REALTY: Trustee Hires Fox Rothschild LLP as Counsel --------------------------------------------------------- Joseph J. DiPasquale, Esq., the Trustee for Bexin Realty Corporation seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to employ Fox Rothschild LLP as counsel. The firm's services include: a. advising the Chapter 11 Trustee as to his rights, powers, and duties as chapter 11 trustee in the Chapter 11 Case, including those set forth in sections 1106 and 704 of the Bankruptcy Code; b. advising the Chapter 11 Trustee as to his investigation into the property of the Debtor's estate, including the pursuit of any actions to collect and recover property for the benefit of the Debtor's estate; c. providing all necessary services as the Chapter 11 Trustee's bankruptcy counsel, including, without limitation, providing the Chapter 11 Trustee with advice, representing the Chapter 11 Trustee, and preparing necessary documents on behalf of the Chapter 11 Trustee in the areas of restructuring and bankruptcy; d. commencing, conducting, and/or continuing litigation necessary and appropriate to assert rights held by the Debtor's estate, protect assets of the Debtor's estate, or otherwise further the goal of completing the Chapter 11 Case; e. preparing or coordinating preparation on behalf of the Chapter 11 Trustee of any necessary motions, applications, answers, orders, reports, and papers in connection with the administration of the Chapter 11 Case; f. advising the Chapter 11 Trustee concerning, and preparing responses to, applications, motions, other pleadings, notices, and other papers that may be filed by other parties in the Chapter 11 Case; g. advising and assisting the Chapter 11 Trustee in connection with any potential asset sales and property dispositions; h. advising the Chapter 11 Trustee in connection with the formulation, negotiation, and promulgation of a plan of reorganization or liquidation, and related transactional documents; i. assisting the Chapter 11 Trustee in reviewing, estimating, and resolving claims asserted against the Debtor's estate; j. negotiating with parties in interest; k. coordinating with the Chapter 11 Trustee's other professionals in representing the Chapter 11 Trustee in connection with this case; and l. performing all other necessary or requested legal services. The firm will be paid at these rates: Joseph J. DiPasquale Partner $1,255 per hour Michael E. Herz Partner $830 per hour Agostino A. Zammiello Partner $695 per hour Robin I. Solomon Paralegal $605 per hour Marcia L. Steen Paralegal $550 per hour Partners $675 to $2,200 per hour Associates $435 to $735 per hour Paralegals/Practice Support/Assistant $235 to $605 per hour In addition, the firm will seek reimbursement for its out-of-pocket expenses. The following is provided in response to the request for additional information set forth in Section D.1 of the UST Guidelines: Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Answer: Yes, the Chapter 11 Trustee requests that Fox Rothschild be compensated at its normal and customary rates for professional staff, with a blended rate cap of $600 per hour for professional staff, plus reimbursement of actual, necessary expenses and other charges incurred. 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 post-petition, explain the difference and the reasons for the difference. Answer: As of the Appointment Date, the applicable rates for timekeepers staffed on this matter were: Partners: $695-$1,255 and Paralegals: $550-$605. From time to time, other attorneys and Paralegals, Practice Support, and Assistants may work on the Chapter 11 Case. The rates for those professionals are: Partners: $675- $2,200; Associates (generally less than 6 years' experience): $435-$735; and Paralegals, Practice Support, and Assistants: $235-$605. Question: Has your client approved your prospective budget and staffing plan, and, if so, for what budget period? Answer: There has been no discussion regarding a staffing plan. Mr. DiPasquale disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Joseph J. DiPasquale, Esq. Fox Rothschild LLP 49 Market Street Morristown, NJ 07960 Telephone: (973) 992-4800 Facsimile: (973) 992-9125 Email: jdipasquale@foxrothschild.com About Bexin Realty Corporation Bexin Realty Corporation is a single asset real estate debtor (as defined in 11 U.S.C. Section 101(51B)). Bexin Realty filed Chapter 11 petition (Bankr. S.D.N.Y. Case No. 24-12080) on November 27, 2024, listing between $10 million and $50 million in both assets and liabilities. Bahram Benaresh, president of Bexin Realty, signed the petition. Judge Martin Glenn handles the case. The Debtor is represented by Jonathan S. Pasternak, Esq., at Davidoff Hutcher & Citron, LLP. Cathay Bank, as lender, is represented by: Conrad K. Chiu, Esq. Amanda Schaefer, Esq. Pryor Cashman LLP 7 Times Square New York, NY 10036-6569 Telephone: (212) 421-4100 Facsimile: (212) 326-0806 Email: cchiu@pryorcashman.com aschaefer@pryorcashman.com BIT ORIGIN: Liabilities Exceed Assets by $1.1M at Dec. 31 --------------------------------------------------------- Bit Origin Ltd's stockholder's deficit was US$1.1 million at Dec. 31, 2025. There was no stockholder's deficit at June 30, 2025. At Dec. 31, 2025, the Company had total assets of US$12.9 million and total liabilities of US$14.7 million. At June 30, 2025, the Company had total assets of US$3.5 million and total liabilities of US$0.4 million. For the six months ended Dec. 31, 2025, and 2024, the Company discloses it incurred net losses of $8,639,336 and $2,819,073, respectively, with net cash used in operating activities of $2,087,601 and $2,925,202, respectively. As of Dec. 31, 2025, and June 30, 2025, accumulated deficit amounted to $106,648,626 and $88,265,410, respectively. As of Dec. 31, 2025, the Group only had a cash balance of $484,970. These conditions, the Company says, particularly the recurring losses from operations and the low cash balance as of the balance sheet date, raised substantial doubt about the Group's ability to continue as a going concern for a period of twelve-month after the date these unaudited condensed consolidated financial statements are issued. The Company says that to address these conditions, management has developed and executed certain measures. On July 13, 2025, the Company entered into an equity purchase facility agreement ("EPFA") with an accredited investor, committing the investor to purchase up to $400,000,000 in newly issued Class A Ordinary Shares over a term expiring in August 2028. On April 16, 2026, the Company entered into a new securities purchase agreement for up to $5,000,000 convertible notes convertible into Class A Ordinary Shares. An initial tranche of $500,000 notes maturing April 16, 2030, was issued on the same date with an initial conversion price of $2.76 per share. Net proceeds will be used for general corporate and working capital purposes. According to the Company, its management is actively building and managing a Dogecoin treasury as part of the Group's digital-asset strategy. The Group holds this treasury as a source of liquidity that management may monetize through sales of Dogecoin when market conditions are favorable, thereby generating cash inflows to support working capital. Management believes that the successful execution of these plans, in particular the Group's ability to issue additional Class A Ordinary Shares under the $400,000,000 EPFA equity purchase facility, together with the convertible notes issued in April 2026 and the planned reduction in operating expenses, will provide sufficient liquidity to meet its obligations and fund operations for at least one year from the date these unaudited condensed consolidated financial statements are issued. Accordingly, after considering these plans, which management believes are probable of being effectively implemented and of mitigating the conditions that initially raised substantial doubt, management has concluded that the substantial doubt about the Group's ability to continue as a going concern has been alleviated. A portion of the Group's Dogecoin holdings, amounting to 40,543,745 coins as of Dec. 31, 2025, is subject to restrictions under a Security and Pledge Agreement entered into with the collateral agent of the convertible debenture holders. Under the terms of the agreement, the pledged Dogecoins are held in a controlled custodial account and are subject to the collateral agent's consent for any transfer or disposition. Notwithstanding such restrictions, the Group retains the ability to request and obtain consent from the collateral agent for the sale or transfer of the pledged Dogecoins, and management does not consider the restriction to be substantive in limiting the Group's ability to realize these assets within the next twelve months. The restriction serves as a protective mechanism for the debenture holders rather than a prohibition on disposition. Accordingly, the Group has classified these Dogecoins as current assets based on its expectation that the assets can be realized in the ordinary course of operations, subject to obtaining the required consent. The Group will continue to evaluate the nature of the restriction and its impact on classification in future reporting periods. The nature and extent of the restriction are disclosed to provide transparency regarding the Group's liquidity and asset availability. As of Dec. 31, 2025, the Group's net operating loss carry forward was approximately $31.2 million. The net operating loss carry forwards are available to reduce future years' taxable income for unlimited years but limited to 80% use per year in the U.S., for 20 years in Canada, and for unlimited years in Singapore. Management believes that the realization of the benefits from these losses appears uncertain due to the Group's operating history and continued losses. If the Group is unable to generate taxable income in its operations, it is more likely than not that it will not have sufficient income to utilize its deferred tax assets. Accordingly, the Group has provided a 100% valuation allowance on its net deferred tax assets of approximately $6.5 million related to its operations as of Dec. 31, 2025. A full-text copy of the Form 6-K is available at https://tinyurl.com/56yjjzrz About Bit Origin Ltd Bit Origin Ltd was incorporated in 2018 under the laws of the Cayman Islands. Bit Origin holds all of the outstanding share capital of these entities: SonicHash Inc., SonicHash Pte. Ltd., SonicHash LLC and Bit Origin Pte. Ltd., and holds 55% of the outstanding share capital of Sonic Auspice DC LLC. The Company and its subsidiaries is focused on the cryptocurrency related operations and management. The Group started Bitcoin mining business in May 2022. BLAKE EMERGENCY: Gets Final OK to Use Cash Collateral ----------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of Texas, Sherman Division, entered a final order authorizing Blake Emergency Medicine, PLLC to use cash collateral. Under the final order, the Debtor is authorized to use cash collateral for expenses outlined in its 30-day budget, which projects total operational expenses of $37,692.90. Individual budgeted expenses may exceed projected amounts by up to 110%, provided that total monthly cash collateral expenditures do not exceed 10% above the overall budget, according to the final order. A search in the Texas Secretary of State shows that allegedly secured positions are held by Bankers Healthcare Group, LLC and the U.S. Small Business Administration. The UCC liens appear to be blanket liens allegedly secured by current and future accounts receivables, inventory, and equipment. As adequate protection, creditors that may have interest in the cash collateral will be granted replacement liens on all post-petition property of the Debtor including cash collateral and other property, with the same priority as their valid pre-petition liens. The replacement liens do not apply to Chapter 5 avoidance actions. The order also preserves the rights of creditors listed in the debtor's UCC filing to challenge whether prepetition receivables or loan proceeds constitute property of the estate, while preserving the debtor's right to dispute the secured status of those claims. The order provides for a carveout covering court filing fees, U.S. Trustee fees, up to $15,000 incurred by a Chapter 7 trustee, approved Subchapter V trustee fees, and approved compensation for the Debtor's counsel, The Lane Law Firm, PLLC. The order is available at http://bankrupt.com/misc/BlakeEmergency_FCCOrder40.pdf About Blake Emergency Medicine PLLC Blake Emergency Medicine, PLLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Texas Case No. 26-41654) on May 12, 2026, listing up to $50,000 in assets and $100,001 to $500,000 in liabilities. Judge Brenda T. Rhoades oversees the case. Robert C. Lane. Esq., at The Lane Law Firm PLLC serves as the Debtor's bankruptcy counsel. BOREALIS FOODS: Liabilities Exceed Assets by $22.7M at March 31 --------------------------------------------------------------- Borealis Foods Inc.'s stockholder's deficit was US$22.7 million at March 31, 2026. The stockholder's deficit was US$19.2 million at Dec. 31, 2025. At March 31, 2026, the Company had total assets of US$51.0 million and total liabilities of US$73.6 million. At Dec. 31, 2025, the Company had total assets of US$52.6 million and total liabilities of US$71.8 million. As of March 31, 2026, Borealis Foods Inc. reported cash and cash equivalents of approximately $0.48 million and a working capital deficit of approximately $(65.02) million. The Company stated that as of that date it was reliant on related party funding and vendor payment timing to meet near-term obligations, and that cash generated from operations was not sufficient to fund its operating requirements. Net cash used in operating activities for the three months ended March 31, 2026, was $0.12 million, compared to $1.37 million used in the same period of 2025. The Company disclosed that as of March 31, 2026, its primary sources of liquidity were borrowings under the FrontWell Capital Partners credit facility and advances from related parties. At that date, the FrontWell term facility carried a balloon payment of approximately $14.08 million due in August 2026, with an additional $2.21 million outstanding under the revolving line of credit, and this scheduled maturity, occurring within twelve months of the balance sheet date, was described as the most significant near-term capital structure risk. Borealis Foods summarized total non-cancellable contractual obligations and other commitments of $72.27 million, of which $71.85 million was due in less than one year, and confirmed that as of March 31, 2026, it did not engage in any off-balance sheet arrangements. In the Going Concern section, the Company stated that its unaudited condensed consolidated financial statements had been prepared assuming that it will continue as a going concern, but that as of March 31, 2026, conditions existed that raised substantial doubt about the Company's ability to continue as a going concern within one year after the date these financial statements are issued. The conditions cited included recurring net losses, a net loss of $3.51 million for the three months ended March 31, 2026, net cash used in operating activities of approximately $0.12 million, a working capital deficit of approximately $(65.02) million, and the FrontWell balloon payment of approximately $14.08 million due in August 2026. The Company also stated that its total liabilities continue to exceed total assets. Management outlined plans as of March 31, 2026, to address going concern conditions, including efforts to refinance, amend, or extend the FrontWell facility using the Company's $43.51 million net PP&E asset base, entering new institutional manufacturing partnerships expected to generate contracted production volume beginning in Q2 2026, continued related party financial support from the Chairman and CEO, pursuing additional equity offerings, convertible debt, and strategic financing arrangements, and SG&A cost reduction. Subsequent to March 31, 2026, the company reported that on April 27, 2026, the FrontWell credit facility was retired in full through a $17.0 million term loan from Oxus Capital, eliminating the August 2026 balloon maturity, and that on May 29, 2026, it issued a separate $3.0 million senior unsecured convertible promissory note to Oxus Capital bearing interest at 10% per annum and maturing Aug. 29, 2026, subject to automatic extension pending required shareholder approvals. The Company further disclosed a Conversion Agreement under which approximately $29.1 million of related-party indebtedness plus approximately $4.3 million of accrued interest (calculated through June 30, 2026) will automatically convert into Common Shares if Borealis Foods does not consummate one or more equity financings resulting in aggregate gross proceeds of at least $70 million at a price of $9.00 per share on or before July 1, 2026, with the Oxus term loan excluded from the indebtedness subject to conversion. It stated that the issuance of Common Shares upon this automatic conversion and the conversion of the Oxus Convertible Promissory Note is expected to require shareholder approval under Nasdaq Listing Rules, that such approvals had not been obtained, and that the conversion and maturities are deferred until required approvals are secured. The company concluded under ASC 205-40 that "substantial doubt about the Company's ability to continue as a going concern has not been alleviated," citing, among other factors, the need to complete the $70.0 million equity financing without existing commitments, continued reliance on demand and past-due obligations to related parties, and the fact that total liabilities continue to exceed total assets. A full-text copy of the Form 10-Q is available at https://tinyurl.com/bdfc3zh2 About Borealis Foods Inc. Borealis Foods Inc. is a pioneering, integrated food science and manufacturing company that is redefining affordable nutrition. Known for popular ramen noodle brands including the high-protein Chef Woo, Chef Ramsay, Ramen Express, and Woodles, Borealis Foods brings innovative fusion flavors from diverse culinary traditions, creating delicious and nutritious meal options for consumers. With U.S.-based production facilities, the Company's portfolio reflects a commitment to quality, innovation, and sustainability. C.D.S. MOVING: Seeks to Extend Plan Exclusivity to Sept. 25 ----------------------------------------------------------- C.D.S. Moving Equipment Inc. asked the U.S. Bankruptcy Court for the Central District of California to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Sept. 25 and Nov. 24, 2026, respectively. The Debtor claims that courts have developed a list of several factors to consider in determining whether a debtor has had an adequate opportunity to negotiate a chapter 11 plan and thus whether cause exists to extend the Exclusivity Periods under Section 1121(d) of the Bankruptcy Code. The Debtor claims that the factors outlined in In re New Meatco Provisions, LLC, to the extent they apply, favor extending the Exclusivity Periods. The first factor — the size and complexity of the case — favors extending the Exclusivity Periods. The Debtor is an operating company with 50 employees and multiple locations. Much of its time so far has been spent: (i) addressing first day motions to continue utility services, allow it to use cash collateral, continue and/or reinstate employee benefits, and transition bank accounts and continue cash management systems; (ii) on necessary operational tasks such as reducing its workforce; (iii) negotiating terms with landlords where Debtor intends to maintain operations; (iv) transitioning from locations that are not optimal to new facilities and the negotiations needed with these existing and new landlords; and (iv) discussions with financiers for debtor-in-possession financing and/or exit financing/investment. The second factor – time to negotiate a plan – favors extending the Exclusivity Periods. The Debtor has only recently restabilized after executing planned operational changes, allowing it to prepare stable financial projections and engage with financiers more seriously. The Debtor is in process of discussions with various sources for working capital and financing through debt and/or investment, which would be the basis for a plan. The third factor – good faith progress toward reorganization – favors extending the Exclusivity Periods. The Debtor has used its time in chapter 11 to develop and execute on a plan to stabilize operations that are expected to support long-term viability. The fourth factor – paying its bills as they come due – favors extending the Exclusivity Periods. The Debtor has worked with its vendors and service providers to secure the continued provision of goods and services. In some instances, the Debtor has made agreements with landlords for reduced rent with shortfalls to be addressed as administrative claims. The fifth factor – demonstrated prospects for filing a viable plan – favors extending the Exclusivity Periods. The fact that the Debtor has been able to stabilize operations and continues to grow revenue holds promise that a confirmable plan is soon achievable. The sixth factor - whether the Debtor has made progress in negotiations with its creditors — also favors extending the Exclusivity Periods. The Debtor filed this Bankruptcy Case primarily because it needed breathing room to resolve a dispute with Pathward which was impeding the Debtor's ability to operate and threatened to collapse the company entirely. The Debtor and Pathward have come to a point of agreement such that the Debtor can operate with relative comfort and with Pathward's cooperation. The seventh factor — the amount of time which has elapsed in the case — favors extending the Exclusivity Periods. The Bankruptcy Case was filed just shy of six months ago, and this is only the second extension the Debtor has requested. The eighth factor — whether the debtor is seeking an extension of exclusivity to pressure creditors to submit to the debtor's reorganization demands — favors extending the Exclusivity Periods. Far from gamesmanship, the Debtor is seeking extension to allow it more time to progress toward preparing and negotiating a plan of reorganization which would be favorable to the Debtor, the Estate and its creditors. C.D.S. Moving Equipment Inc. is represented by: Derrick Talerico, Esq. WEINTRAUB, ZOLKIN TALERICO & SELTH LLP 11766 Wilshire Blvd Suite 730 Los Angeles CA 90025 Tel: (424) 500-8552 Email: dtalerico@wztslaw.com About C.D.S. Moving Equipment Inc C.D.S. Moving Equipment Inc. is a California-based company serving the moving, storage, logistics, and packaging industries. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-21646) on Dec. 29, 2025. In the petition signed by Michael Dennis Barwick, chief executive officer, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Judge Julia W. Brand oversees the case. Derrick Talerico, Esq., at Weintraub Zolkin Talerico & Selth, LLP, is serving as the Debtor's legal counsel. Pathward, National Association, as secured creditor, is represented by: Kimberly Ross Clayson, Esq. Taft Stettinius & Hollister LLP 27777 Franklin Road, Suite 2500 Southfield, MI 48034 Telephone: (248) 351-3000 Facsimile: (248) 351-3082 kclayson@taftlaw.com CELINA TOTAL: Gets Final OK to Use Cash Collateral -------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of Texas, Sherman Division, entered a final order authorizing Celina Total Foot Care, PLLC to use cash collateral. Under the final order, the Debtor is authorized to use cash collateral to fund its operations in accordance with a court-approved operating budget. Individual budgeted expenses may exceed projected amounts by up to 110%, provided that the Debtor's total monthly cash collateral expenditures do not exceed 10% above the overall budget. A search of the Texas Secretary of State records indicates that Northeast Bank, Texas Bank and Trust Company, Forward Financing USA, LLC, and the U.S. Small Business Administration claim secured positions. The filed UCC financing statements assert blanket liens on the Debtor's existing and future accounts receivable, inventory, and equipment. As adequate protection, creditors that may have valid pre-petition liens will receive replacement liens on post-petition cash collateral and other property, with the same priority, validity and extent as their pre-petition liens. The replacement liens do not apply to Chapter 5 avoidance actions. The final order preserves the rights of creditors to contest whether certain pre-petition receivables or loan proceeds constitute property of the estate, while the Debtor retains the right to dispute the secured status of those claims. In addition, the order establishes a carveout for court filing fees, U.S. Trustee fees, up to $15,000 in Chapter 7 trustee expenses, approved Subchapter V trustee fees, and approved compensation for the debtor's counsel, The Lane Law Firm, PLLC. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/9GwBi from PacerMonitor.com. About Celina Total Foot Care PLLC Celina Total Foot Care, PLLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Texas Case No. 26-41849) on May 29, 2026, with assets of up to $50,000 and liabilities of between $100,001 and $500,000. Judge Brenda T. Rhoades oversees the case. The Debtor is represented by: Robert C. Lane, Esq. The Lane Law Firm, PLLC 6200 Savoy Dr Ste 1150 Houston, TX 77036-3369 Tel: 713-595-8200 notifications@lanelaw.com CHASSEUR REALTY: Case Summary & Eight Unsecured Creditors --------------------------------------------------------- Debtor: Chasseur Realty Investors-Jackson, LLC d/b/a Fondren Hill Apartments 1445 Georgian Drive Moorestown, NJ 08057 Business Description: Chasseur Realty Investors-Jackson, LLC is a Jackson, Mississippi-based real estate lessor whose primary asset is Fondren Hill Apartments, a multifamily apartment property at 770 Lakeland Drive in Jackson. The company is associated with Chasseur Realty Investors, LLC, a Valdosta, Georgia-based multifamily real estate investment and management firm focused on acquiring, renovating and managing value-add apartment communities across Georgia, northern Florida and the Alabama coast. Chapter 11 Petition Date: July 2, 2026 Court: United States Bankruptcy Court District of New Jersey Case No.: 26-17694 Debtor's Counsel: Edmond M. George, Esq. OBERMAYER REBMANN MAXWELL & HIPPEL LLP Centre Square West, 1500 Market Street Suite 3400 Philadelphia, PA 19102 Tel: 215-665-3140 E-mail: edmond.george@obermayer.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $10 million to $50 million The petition was signed by Robert M. Dominy Jr. as managing member, Chasseur Realty Investors, LLC. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/XZFQXGA/Chasseur_Realty_Investors-Jackson__njbke-26-17694__0001.0.pdf?mcid=tGE4TAMA List of Debtor's Eight Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Comcast Utilities $1,075 1701 JFK Blvd Philadelphia, PA 19103-2838 2. Entergy Electric Utilities $1,608 639 Loyola Avenue New Orleans, LA 70113 3. Jackson Water Company Utilities $93,610 P.O. Box 22667 Jackson, MS 39225-2667 4. Michael Barrett Loan $200,000 63 Kent Rd Lynn, MA 01904 5. MS Department of Revenue Taxes $700 P.O. Box 23075 Jackson, MS 39225-3075 6. Ponderosa Fence Contractor $1,300 PO Box 54309 Pearl, MS 39288-4309 7. Republic Trash Contractor $2,609 1035 Old Brandon Rd Brandon, MS 39232 8. Robert M. Dominy Loan $994,000 P.O. Box 22245 206 Marina Dr. Saint Simons Island, GA 31522 CHRONOSCALE CORP: Board Expands to Eight Members ------------------------------------------------ ChronoScale Corporation announced in a regulatory filing that the Board of Directors increased the size of the Board from seven to eight members and appointed Mr. Andrew Cordell Schaap to serve as a member of the Board to fill the resulting vacancy, effective as of June 29, 2026. In addition, Mr. Schaap was appointed to serve as a member of each of: (i) the Audit Committee of the Board, replacing Douglas Miller who will continue to serve on the Board, and (ii) the Related Party Transactions Committee of the Board, each effective as of June 29, 2026. Upon his appointment, Mr. Schaap was granted a Restricted Stock Award under the Company's 2026 Omnibus Equity Incentive Plan. The Schaap RSA consists of two hundred thousand restricted shares of common stock of the Company, par value $0.001 per share. The Schaap RSA will vest in two equal annual installments on each of the first two anniversaries of the date of grant; provided, that Mr. Schaap continues to provide service to the Company on the applicable vesting date. In addition, the Schaap RSA will accelerate and vest upon certain conditions as set forth therein. There are no related party transactions reportable under Item 5.02 of Form 8-K and Item 404(a) of Regulation S-K with respect to Mr. Schaap and the Company. For informational purposes, the Company discloses that its subsidiary is a party to a data center lease with a company in which Mr. Schaap is Chief Executive Officer and a member of the board of directors. The lease was previously entered into in the ordinary course of business. The foregoing description of the Schaap RSA is not complete and is qualified in its entirety to the full text of the Restricted Stock Award Agreement by and between the Company and Mr. Schaap, a copy of which is incorporated by reference as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein. Board Committee Composition As of June 30, 2026, the Board's standing committees are comprised as follows: Audit Committee: * William M. Clancy (Chair), * Ella Benson (Member) * Andrew Schaap (Member) Compensation Committee: * Richard Nottenburg (Chair) * Douglas Miller (Member) Nominating and Governance Committee: * Ella Benson (Chair) * Douglas Miller (Member) Related Party Transaction Committee: * William M. Clancy (Chair) * Andrew Schaap (Member) About ChronoScale Corp ChronoScale Corporation, formerly Ekso Bionics Holdings, Inc., designs, develops, and markets exoskeleton products. Its exoskeleton technology serves people with physical disabilities or impairments in both physical rehabilitation and mobility. The Company operates as one segment with two markets: Enterprise Health and Personal Health. San Francisco, Calif.-based WithumSmith+Brown PC, the Ekso Bionics' auditor since 2010, issued a 'going concern' qualification in its report dated February 23, 2026, attached to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, citing that the Company has an accumulated deficit at December 31, 2025 and, since inception, has suffered significant operating losses and negative cash flows from operations. The Company expects to generate operating losses and negative operating cash flows in the future and will require additional funding to support the Company's planned operations which raises substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $19.7 million in total assets, $13.9 million in total liabilities, $3.7 million in temporary equity and $2.1 million in total stockholders' equity. CHS FL: Court OKs Continued Use of Cash Collateral -------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida, Fort Myers Division, entered a final stipulation and order authorizing CHS FL, LLC and affiliated debtors to continue using cash collateral. The order reflects a consensual agreement between the Debtors and lender, M2 LoanCo, LLC, whose approximately $16 million senior secured loan is administered by Cortland Capital Market Services, LLC. The lender holds first-priority security interest in substantially all of the Debtors' operating assets, including cash collateral. Under the court order, the Debtors are authorized to use cash collateral in accordance with an agreed budget to fund operations, payroll, and essential healthcare services while pursuing restructuring efforts. In exchange, M2 LoanCo received valid and perfected first priority replacement liens on the collateral. The replacement liens are subject and subordinate to the carveout protecting payment of estate professionals, U.S. Trustee fees, and up to $50,000 incurred by a Chapter 7 trustee. As additional protection, the Debtors are required to comply with the approved operating budget (which permits a 5% variance per line item and a 10% overall monthly variance); maintain debtor-in-possession accounts; provide monthly operating reports; and refrain from disposing of collateral outside the ordinary course of business without court approval. The order is available at http://bankrupt.com/misc/CHSFL_FCCOrder321.pdf The court previously authorized the Debtors to access cash collateral under its June 23 second stipulation and order. The terms of that stipulation expired on July 1. About CHS FL LLC CHS FL, LLC, a company in Naples, Fla., and its affiliates provide correctional healthcare services to jails, prisons and other correctional facilities. CHS FL and its affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Lead Case No. 26-01087) on May 8 and May 13, 2026. At the time of the filing, CHS FL had estimated assets of between $50 million and $100 million and liabilities of between $100 million and $500 million. Judge Luis Ernesto Rivera II oversees the cases. Dal Lago Law and Polsinelli, PC serve as the Debtors' legal counsel. CICC & SONS: Seeks to Extend Plan Exclusivity to Sept. 28 --------------------------------------------------------- Cicc & Sons Investments, LLC, asked the U.S. Bankruptcy Court for the Western District of Pennsylvania to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Sept. 28 and Nov. 25, 2026, respectively. The Debtor maintains that sufficient cause exists for an extension of the filing deadlines and the Exclusivity Periods. First, the Debtor has been working with its major secured creditors on a path for a successful reorganization. While these discussions are ongoing, additional time is needed in order to propose a plan. Second, the Claims Bar Date has not passed. The deadline for all nongovernmental entity creditors is Aug. 3, 2026. The deadline for all governmental entity creditors is Aug. 25. It is prudent for the claims bar date to pass in order for the Debtor to fully assess the universe of claims filed against it. Additionally, the Debtor has been to fix damaged units and increase occupancy at the rental units. This additional time will allow the Debtor to lease units during the peak rental season prior to filing a chapter 11 plan. The Debtor asserts that its creditor will not be prejudiced by the requested extensions. On the contrary, the Debtor's creditors will be best served with an extension of the Exclusivity Periods and the filing deadline. Cicc & Sons Investments, LLC, is represented by: David Z. Valencik, Esq. Calaiaro Valencik 555 Grant Street, Suite 300 Pittsburgh, PA 15219 Telephone: (412) 232-0930 Facsimile: (412) 232-3858 E-mail: dvalencik@c-vlaw.com About Cicc & Sons Investments Cicc & Sons Investments, LLC in Pittsburgh, PA, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. W.D. Pa. Case No. 26-20546) on Feb. 27, 2026, listing as much as $1 million to $10 million in both assets and liabilities. Chris Ciccarelli as managing member, signed the petition. CALAIARO VALENCIK serves as the Debtor's legal counsel. CICCARELLI & SONS: Seeks 90-Day Extension of Plan Filing Deadline ----------------------------------------------------------------- Ciccarelli & Sons, LLC asked the U.S. Bankruptcy Court for the Western District of Pennsylvania to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof for additional ninety days. The Debtor owns and rents multiple residential real estate properties throughout the Pittsburgh metropolitan area. On Feb. 27, 2026 (the "Petition Date"), the Debtor filed a voluntary petition for relief under chapter 11 of title 11 of the United States Code. That same day, an affiliate of the Debtor, Cicc & Sons Investments, LLC (the "Affiliate Debtor" and, collectively with the Debtor, the "Debtors") likewise filed a voluntary petition with the Court under chapter 11 of the Bankruptcy Code, commencing case number 26-20546-CMB (the "Affiliate Bankruptcy Case"). The Bankruptcy Case and Affiliate Case were filed to prevent the loss of certain rental properties through sheriff's sales, and to allow the Debtors breathing room to devote income from rented properties to the repair of unrented properties, which would allow the unrented properties to be marketed for renting. Ciccarelli reports that substantial progress has been made toward repairing rental properties of each of the Debtors, and that each of the Debtors should have additional properties available for rent in the near future. However, as of the date of this Motion, the Debtor requires more time to stabilize and improve its cash flow and analyze its financial performance to formulate a plan following the repair, marketing, and renting of certain of its rental properties. Ciccarelli explains that it is currently performing substantial repair work to the plumbing and electrical components of the Debtor's multi-unit property at 1500 Edgehill Avenue, in Pittsburgh's Dormont neighborhood. Upon completion of his repair efforts, Ciccarelli estimates that six additional rental units will become available for the Debtor to market and rent, which should produce significant additional revenue for the Debtor to devote to a plan. Ciccarelli claims that the company and counsel are also working to address utility issues affecting one of the Debtor's larger properties at 243 Homestead Street, in Pittsburgh's Swisshelm Park neighborhood. People's Natural Gas has discontinued service to 243 Homestead Street despite being notified of the Bankruptcy Case, which has precluded the property from being rented. In the meantime, the Debtor is communicating with its secured creditors regarding adequate protection payments, and marketing its other unrented properties to prospective tenants. Ciccarelli & Sons, LLC is represented by: Ryan J. Cooney, Esq. Cooney Law Offices LLC 223 Fourth Avenue, 4th Fl. Pittsburgh, PA 15222 Telephone: (412) 546-1234 Facsimile: (412) 546-1235 Email: rcooney@cooneylawyers.com About Ciccarelli & Sons LLC Ciccarelli & Sons LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Pa. Case No. 26-20547) on February 27, 2026. In the petition signed by Christopher M. Ciccarelli, authorized member, the Debtor disclosed up to $10 million in both assets and liabilities. Ryan J. Cooney, Esq., at Cooney Law Offices LLC serves the Debtor as counsel. CLEAN ENERGY: Expands Board With Two New Directors -------------------------------------------------- Clean Energy Technologies, Inc. announced in a regulatory filing that effective June 21, 2026, the Board of Directors appointed Ruoxin (Skyler) Wang and Zhang Zhixiang as members of the Board, and they accepted their appointments as directors. About Zhang Zhixiang Mr. Zhang, age 58, graduated from the Central University of Finance and Economics in Beijing, China, with a Bachelor of Economics degree. Mr. Zhang previously worked at the Beijing Branch of the Industrial and Commercial Bank of China, the Head Office of China Everbright Bank, and China Haohua Chemical (Group) Co., Ltd., where he served as General Manager of Haohua Asset Management Co., Ltd., among other positions. Mr. Zhang joined China Ruifeng New Energy Holdings Limited in 2005, and he has served as its Chief Executive Officer since 2010. Mr. Zhang previously served as a director of Lion Group Holding Ltd. from June 2020 through September 2025. About Ruoxin (Skyler) Wang Ms. Wang, age 36, is a seasoned investment professional with over a decade of institutional experience. She personally managed a large portfolio of assets on behalf of a client base that included major U.S. family offices, one of the largest sports foundations in the United States, ultra-high-net-worth individuals, and Nasdaq/NYSE-listed corporations. Her expertise spans portfolio construction across equities, fixed income, and alternative assets, as well as trust structuring, family wealth management, and both primary and secondary market investments. Ms. Wang currently serves as Sole Global Representative of the Art Coin Rock (R-ART) Digital Platform under RockArt Group, appointed by the Rockefeller Family Non-Profit Cultural Foundation to lead the global strategy, investor relations, and commercialization of the Rockefeller Collection--a diversified portfolio of Old Masters, modern and contemporary artworks, rare artifacts, sculptures, and digital creative assets. Beyond RockArt Group, Ms. Wang serves as Vice President of the Global M&A Association and Head of Global Investor Relations for the Rockefeller Collection Digital Platform, she was Financial Advisor for Merrill Lynch from approximately October 2022 to March 2025, she was a Private Financial Advisor at JP Morgan Chase & Co. from 2019 through October 2022, and she has been the President of Rock Skyline LLC since December 2025. Ms. Wang received her degree in Finance from Shenyang Normal/Peking University. Skyler Wang will qualify as an "independent director" under Nasdaq's listing rules. About Clean Energy Clean Energy Technologies, Inc., headquartered in Irvine, California, develops renewable energy products and clean energy solutions focused on energy efficiency and renewable energy. The company provides waste heat recovery, waste-to-energy, engineering, consulting and project management services, including converting waste products into electricity, renewable natural gas, hydrogen and biochar. Through Clean Energy Technologies (H.K.) Limited, the company sources, purchases and supplies natural gas to industries and municipalities in mainland China. In an audit report dated April 14, 2025, TAAD, LLP included a going concern paragraph stating that the Company had an accumulated deficit and negative cash flows from operations that raised substantial doubt about the company's ability to continue as a going concern. As of Sept. 30, 2025, Clean Energy Technologies reported total assets of $14.8 million, total liabilities of $7.7 million and total equity of $7.1 million. CORE AI HOLDINGS: Q1 Net Loss Widens to $3.63MM, Revenue Falls 74% ------------------------------------------------------------------ Core AI Holdings, Inc. has filed its Report of Foreign Private Issuer on Form 6-K with the U.S. Securities and Exchange Commission, reporting financial results for the three months ended March 31, 2026. The Company reported revenue of $3,768,536 for the three months ended March 31, 2026, compared to $14,509,763 for the three months ended March 31, 2025, a decrease of $10,741,227, or 74.03%. The Company experienced a net loss for the three months ended March 31, 2026 of $3,628,563 compared to a net loss of $100,257 for the three months ended March 31, 2025, representing a negative variance of $3,528,306. Results of Operations Cost of providing services for the three months ended March 31, 2026 was $6,840,414, compared to $14,738,105 for the three months ended March 31, 2025, consisting of advertisement promotion costs of $5,858,651, technology service costs of $582,000, and other costs of $399,763. The gross profit amounted to a loss of $3,071,878 in the first quarter of 2026, compared with a loss of $228,342 in the same period of 2025, a decrease of $2,843,536, primarily driven by fluctuations in market prices and a temporary rise in customer acquisition costs for in-app advertising of certain product lines. General and administrative expenses for the three months ended March 31, 2026 were $287,290, compared to $198,833 for the three months ended March 31, 2025, an increase of $88,457, or 44.49%. The increase was mainly driven by a $45,318 rise in administrative salaries, a $31,766 increase in professional service fees, and a $16,882 increase in research and development costs, partially offset by reductions in rental expenses, office expenses, and other expenses. The allowance for credit losses for the three months ended March 31, 2026 was $234,711, compared to a reversal of $316,514 for the three months ended March 31, 2025, representing a negative variance of $551,225. Other income for the three months ended March 31, 2026 was $13,156, compared to $52,598 for the corresponding period of 2025. Foreign exchange loss, net, was $42,983 for the three months ended March 31, 2026, compared to a loss of $28,803 for the three months ended March 31, 2025. Liquidity and Capital Resources As of March 31, 2026, the Company had cash and cash equivalents of $2,507,268, compared to $1,931,174 as of December 31, 2025. Total current assets were $7,366,000 and total assets were $7,916,158 as of March 31, 2026, compared to total current assets of $12,819,357 and total assets of $13,405,344 as of December 31, 2025. Total current liabilities were $8,456,289 and total liabilities were $8,456,389 as of March 31, 2026. Total equity was $(540,231) as of March 31, 2026, compared to $3,101,659 as of December 31, 2025, reflecting an accumulated deficit of $35,592,214. Net cash provided by operating activities was $74,073 for the three months ended March 31, 2026, compared to $211,393 for the three months ended March 31, 2025. Net cash provided by investing activities was $515,348 for the three months ended March 31, 2026, consisting of a borrowing from a third party, compared to nil for the prior-year period. There were no financing activities in either period. The Company believes that its existing cash and cash equivalents, cash generated from operations, and continuing availability of loans from related parties may not be sufficient to fund operations and capital expenditure requirements for at least the next 12 months as it continues to explore and fund data center partnership opportunities. The Company may need to engage in equity or debt financings to secure additional funds. Going Concern The Company incurred a net loss from continuing operations of $3,628,563 for the three months ended March 31, 2026, and has an accumulated deficit of $35,592,214 as of March 31, 2026. These factors raise substantial doubt about the Company's ability to continue as a going concern. The Company's unaudited condensed interim consolidated financial statements for the period ended March 31, 2026, as well as the audited financial statements for the years ended December 31, 2025 and December 31, 2024, all include a going concern explanatory paragraph expressing substantial doubt about the Company's ability to continue as an ongoing business for the next 12 months. A full text copy of the financial results and management's discussion and analysis for the three months ended March 31, 2026 are available at https://tinyurl.com/3vwcdrnh and https://tinyurl.com/bdzdeume, respectively. About Core AI Holdings Core AI Holdings, Inc., previously known as Siyata Mobile Inc. -- http://www.coregaming.co/-- is focused on developing a portfolio of AI-focused businesses with next-generation technologies. Through its subsidiary, Core Gaming, it operates a leading global AI driven mobile games development and publishing business. The company creates entertaining games for millions of players worldwide, while empowering other developers to deliver player-focused apps and games to enthusiasts. Since its launch Core Gaming has developed and co-developed over 2,200 games, driven over 800 million downloads, and generated a global footprint of over 40 million users from over 140 countries. Core AI's mission is to harness the power of artificial intelligence to build transformative and scalable offerings across multiple verticals. DAIRY BUILDING: Court OKs Portland Property Sale to Multiple Buyers ------------------------------------------------------------------- The U.S. Bankruptcy Court for the District of Oregon has permitted Dairy Building, LLC, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor has leasehold interest in the land commonly known as "The Dairy Building" located at 2705-2715 SE 8th Avenue, Portland, OR 97202. The Court has authorized the Debtor to sell the Property to the buyers, Megan Finn; Sarah Stadler and Kathleen Hallgreen, Trustees of the Stadler-Hallgren Family Trust dated March 20, 2023; Eric L. Lindsay and Odessa D. Cole; and Gerald A. and Anita L. Lindsay, individually and as Trustees of the Lindsay Family Trust U/T/A dated 12/18/08. The purchase price is $3,400,000.00. The Purchase and Sale Agreement (PSA) and the transactions contemplated thereby have been negotiated by the Debtor and the Purchaser in good faith, at arm's length, and without collusion. The Debtor has provided good and sufficient notice with respect to the Motion and the relief sought therein, including the entry of the Order and the transfer and purchase of the Debtor's leasehold interest in the Property. The Debtor has demonstrated good, sufficient and sound business purposes and justifications for approval of the Motion that are a result of due deliberation by the Debtor and constitute a sound and reasonable exercise of the Debtor's business judgment consistent with its fiduciary duties. The Debtor is authorized and directed to immediately close the sale of the Assets to Purchaser and to execute and deliver such documents to Purchaser and take such actions as may be necessary or appropriate to accomplish the terms of the Order. The Debtor's assumption and assignment of the Assume and Assign Leases is authorized and approved, including the assignment of the outstanding Tenant Deposits under the Dairy Building Leases at the time of closing of the sale. The Debtor is authorized to cure its existing monetary defaults under the Assume and Assign Leases, if any. The Debtor is authorized to take such further actions as may be necessary or appropriate to effectuate the terms of the order. About Dairy Building, LLC Dairy Building, LLC owns a commercial building in Portland, Oregon, and holds a leasehold interest in the property under a ground lease. The property has been valued at approximately $2 million based on a June 11, 2025 proposal letter of intent reflecting the applicable interest rate. Dairy Building, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 25-34175) on December 15, 2025. In its petition, the Debtor reports estimated assets and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge David W. Hercher handles the case. The Debtor is represented by Douglas R. Ricks, Esq. of Sussman Shank LLP. DAN LEPORE: Hires MillerSearles LLC as Tax Return Preparer ---------------------------------------------------------- Dan Lepore & Sons Company seeks approval from the U.S. Bankruptcy Court for the Eastern District of Pennsylvania to employ MillerSearles LLC as tax return preparer. The firm will prepare and file the following 2025 tax returns: (i) Federal Delaware, Maryland, New Jersey, Pennsylvania and City of Philadelphia income tax returns and (ii) Business privilege tax returns for Lower Merion, Norristown, Upper Merlon, Whitemarsh, Radnor and potentially other local jurisdictions. The firm will be paid $12,500 for the services. Mr. Wills disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Christopher T. Wills MillerSearles LLC 840 West Hamilton Street, Suite 320 Allentown, PA 18101 Telephone: (610) 437-1000 About Dan Lepore & Sons Company Dan Lepore & Sons Company provides construction and restoration services through divisions focused on stonework, unit masonry, and restoration, offering design and build capabilities along with rigging and scaffolding. It specializes in new building construction, maintenance, dismantlement, reconstruction, and the preservation of historic structures for industrial, commercial, and institutional clients across the United States. Dan Lepore & Sons sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Pa. Case No. 25-14757) on November 21, 2025, listing between $1 million and $10 million in assets and liabilities. Gregory J. Lepore, president of Dan Lepore & Sons, signed the petitions. Judge Ashely M. Chan oversees the case. Aris J. Karalis, Esq., at Karalis PC, represents the Debtor as legal counsel. DAVID ARTHUR SHABSELS: July 9 Deadline for Panel Questionnaires --------------------------------------------------------------- The United States Trustee is soliciting members for committee of unsecured creditors in the bankruptcy case of David Arthur Shabsels. If a party wishes to be considered for membership on any official committee that is appointed, it must complete a questionnaire available at https://tinyurl.com/mwhxaabr and return by email it to Tina L. Oppelt -- Tina.L.Oppelt@usdoj.gov -- at the Office of the United States Trustee so that it is received no later than 5:00 p.m., on Thursday, July 9, 2026. About David Arthur David Arthur Shabsels filed a petition under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 26-16530) on June 4, 2026. Donald W Clarke, Esq. represents the Debtor. DAVIS KITCHEN: Gets Final OK to Use Cash Collateral --------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of West Virginia entered a final order authorizing Davis Kitchen & Tile, LLC to continue using cash collateral to fund its Chapter 11 operations. Under the final order, the Debtor is authorized to use cash collateral in accordance with its approved budget, effective retroactively to the petition date and continuing until confirmation of a Chapter 11 plan, dismissal or conversion of the bankruptcy case, or further court order. As adequate protection, First United Bank & Trust received automatically perfected replacement liens on substantially all post-petition assets of the same type as its prepetition collateral, including accounts receivable, inventory, equipment, deposit accounts, and general intangibles. These replacement liens are senior to other post-petition liens, subject to specified carve-outs and any valid senior prepetition liens. The court also approved revised adequate protection payments to First United Bank & Trust under a prior stipulation, requiring monthly payments totaling $3,605.25. These payments will be credited against the treatment of the bank's claims under the Debtor's Chapter 11 plan. Meanwhile, On Deck received junior replacement liens on similar categories of post-petition collateral and is entitled to monthly payments of $447. The final order provides for a carveout that preserves payment of administrative expenses, including bankruptcy court fees, U.S. Trustee fees, Subchapter V Trustee compensation, and approved post-petition professional fees for the Debtor's counsel of up to $10,000 per month. All parties retain their rights to challenge the validity, priority, or enforceability of liens and claims in future proceedings. The final order is available at http://bankrupt.com/misc/DavisKitchen_FCCOrder94.pdf About Davis Kitchen & Tile LLC Davis Kitchen & Tile, LLC is a Morgantown, West Virginia-based remodeling company that provides kitchen and bathroom design, renovation and installation services. The company, founded in 1911, offers cabinetry, tile, flooring, countertops, backsplashes, plumbing fixtures and related building-finishing services for residential remodeling customers. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. W. V. Case No. 26-00343) on May 14, 2026. In the petition signed by Christopher Collins, CEO and owner, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Judge David L Bissett oversees the case. Ryan W. Johnson, Esq., at Johnson Legal Services, PLLC, represents the Debtor as legal counsel. DEALER SOURCE: Seeks to Hire Steve Smith CPA as Accountant ---------------------------------------------------------- Dealer Source ATX LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to employ Steve Smith, CPA as accountant. The firm will provide these services: a. assist with bookkeeping on a regular basis; b. prepare and file all tax returns including federal, state, local; c. prepare and file sales tax returns; d. assist with all things accounting, tax or audit procedures as needed. The firm will be paid based upon its normal and usual hourly billing rates. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Smith, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Steve Smith C.P.A. 1507 Oak Heights, Ste. B Austin, TX 78741 Tel: (512) 971-0262 About Dealer Source ATX LLC Dealer Source ATX LLC, operating under the trade name Auto Enhancements, is a Pflugerville, Texas-based automotive aftermarket accessories and vehicle customization company. The company provides fleet upfitting, leather seat conversions, electronic installations, and other vehicle enhancement services, with approximately 85% of its business derived from B2B dealership contracts. Dealer Source ATX LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-11176) on June 23, 2026. In its petition, the Debtor reports estimated assets of $100,000 to $500,000 and estimated liabilities of $500,000 to $1 million. Honorable Bankruptcy Judge Shad M. Robinson handles the case. The Debtor is represented by Robert Chamless Lane, Esq. of The Lane Law Firm PLLC. DEGROFF RX: Hires Jeffrey Hellman LLC as Attorney ------------------------------------------------- Degroff RX, LLC seeks approval from the U.S. Bankruptcy Court for the District of Connecticut to employ Jeffrey Hellman, LLC as attorney. The firm's services include: a. advising the Debtor rights, powers and duties as Reorganized Debtor continuing to operate and manage its business and property; b. advising the reorganized Debtor; c. advising the Debtor concerning and preparing responses to applications, motions, pleadings, notices, and other papers which will be filed and served in this Chapter 11 case; and d. performing all other legal services for and behalf of the Debtor which will be necessary or appropriate in the administration of this Chapter 11 case. The firm will be paid at the rate of $650 per hour. The firm received a retainer in the amount of $10,000. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Hellman disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Jeffrey Hellman, Esq. Jeffrey Hellman, LLC 195 Church Street, 10th Floor New Haven, CT 06510 Tel: (203) 691-8762 Email: jeff@jeffhellmanlaw.com About DeGroff RX DeGroff RX, LLC, a long-term care pharmacy in New Britain, Conn., sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Conn. Case No. 20-21162) on Sept. 28, 2020. Todd DeGroff, member, signed the petition. At the time of the filing, the Debtor had total assets of $443,999 and liabilities of $6,483,521. Judge James J. Tancredi oversees the case. Zeides, Needle & Cooper, P.C. is the Debtor's legal counsel. DISH DBS: Commences Prepackaged Ch. 11 to Facilitate Debt Repayment ------------------------------------------------------------------- DISH DBS Corporation and certain subsidiaries, including DISH Wireless L.L.C. and its subsidiaries, announced on June 30, 2026 that they have filed chapter 11 cases to seek confirmation of a "prepackaged" joint chapter 11 plan. The Plan implements the terms of the previously announced Restructuring Support Agreement signed on March 19, 2026, as amended, modified, or supplemented. Holders of more than 88% of DISH DBS's secured and unsecured notes, who also hold more than $8.8 billion of DISH Wireless debt, have signed the RSA and have agreed to support the Plan. As a result, the Filing Entities anticipate that all classes of claims will vote to accept, or be deemed to have accepted, the Plan. The Plan, which remains subject to Court approval, will position the Filing Entities and their affiliates for long-term success and facilitate the completion of the orderly transition of the DISH Wireless business that was initiated after the sale of spectrum licenses announced in August and September 2025. The Cases were commenced in the United States Bankruptcy Court for the Southern District of Texas, Houston Division. Key Takeaways * Rationale: Implementing the Plan will enable DISH DBS to pay off debt early with no penalty, allow the Company to focus on its ongoing operations, and provide the Company more strategic flexibility for future initiatives. * Timeline: The Plan is expected to move swiftly without impacting the Company's active operations. The Filing Entities are targeting emergence from chapter 11 before the end of Q3 2026. * Impact: EchoStar's brands, customers, operations, and employees will not be affected. As a result of the restructuring, the Company will emerge stronger and better able to take advantage of future opportunities. * DISH Wireless: The transition of DISH Wireless will be completed in an orderly and expedited manner. All allowed claims against it will be liquidated and entitled to receive distributions from the proceeds of the sale of its assets. * FCC Escrow Trust Fund: Holders of qualifying claims incurred with respect to the decommissioning of the DISH Wireless 5G network will also have the right to recover from the $2.4 billion fund separately ordered by the FCC to be established by EchoStar upon the closing of the previously announced spectrum sale to AT&T. Any such claim in an amount less than $100,000 has been prioritized by the FCC and is secured by the Fund. "EchoStar has been at the forefront of telecommunications for over 45 years, and these steps will position the business for an even stronger future," said Charlie Ergen, co-founder and Chairman. "We are operating as usual throughout this process, delivering the same high-quality services that our customers expect. I want to thank our team members for their relentless focus and our customers and partners for their continued support." Maintaining Business as Usual The filing and prosecution of the Cases will not impact DISH TV, Sling TV, or their active operations and employees. EchoStar Corporation, Hughes Satellite Systems Corporation, and the entities that operate the Company's Boost Mobile and Gen Mobile brands are not included in the Cases, and these filings will have no impact on the customers, operations, employees, or financings of these entities. DISH DBS is seeking Court approval of an "all-trade" motion that will allow it to make timely payments to vendors, suppliers, partners, retailers, and other trade creditors that provide goods and services to DISH DBS and its Pay TV subsidiaries under existing contractual terms for goods delivered and services performed both before and after the filing. The Filing Entities are also seeking approval of various customary "first-day" motions from the Court to enable them to continue to operate their businesses in the ordinary course during the pendency of the Cases and to move forward with the timely confirmation of their "prepackaged" Plan. Prepackaged Restructuring Transaction DISH DBS, through certain subsidiaries, operates the Pay TV business, while DISH Wireless and its subsidiaries formerly operated a facilities-based 5G wireless network. Although the chapter 11 filings of DISH DBS and DISH Wireless are proposed to be jointly administered for procedural purposes and the Plan is a joint plan for all of the Filing Entities, their assets and liabilities will remain separate. The solicitation of votes on the Plan, which was negotiated with, and agreed to by, holders of the vast majority of the Filing Entities' creditors, commenced prior to the filing of the Cases. This advance planning provides the Filing Entities with a pathway to make the Plan binding on their remaining creditors and to move swiftly and efficiently through the chapter 11 process. The Cases were filed today because, due to unforeseen delays, the AT&T Transaction has not yet closed. The RSA provides that, upon the final consummation of certain transactions contemplated by the RSA, EchoStar will, among other things, cause DNC to pay in full all amounts owed to DISH DBS under Tranche B of its 2021 Intercompany Loan, and that DISH DBS will, in turn, use the proceeds to, among other things, pay in full and retire its $2.0 billion of 7.75% senior secured notes due on July 1, 2026. Payment of the Tranche B Loan to DISH DBS is to be funded from the $20.25 billion of net proceeds to be paid by AT&T upon the closing of the AT&T Transaction. As a result of the delayed closing of the AT&T Transaction, DISH DBS does not currently have sufficient liquidity to repay the July 1 Notes while continuing to pay its ordinary course obligations. All amounts owed under the July 1 Notes will be paid in full in cash as promptly as possible after closing of the AT&T Transaction or on the effective date of the Plan. DISH Wireless to Complete Transition and to Dispose of Remaining Assets The filing will permit DISH Wireless and its subsidiaries to complete the transition of their business and dispose of their remaining assets in an orderly and expedited manner. The chapter 11 process will provide a forum for the determination of all claims against DISH Wireless and the distribution of proceeds from the sale of its remaining assets. This follows unforeseeable regulatory actions that necessitated the Company's sale of key wireless spectrum licenses and the decommissioning of the facilities-based 5G network operated by DISH Wireless with that spectrum. In its approval order for the AT&T Transaction and the SpaceX transaction, the FCC required EchoStar to establish the $2.4 billion Fund upon the closing of the AT&T Transaction to address qualified claims from creditors related to the shutdown of the DISH Wireless 5G network. The FCC structured the Fund to prioritize claims of $100,000 or less and to "[encourage] the resolution of outstanding claims" against DISH Wireless. Today's filing will not impact the establishment of the Fund. The Fund will be administered outside of the restructuring proceeding, although holders of qualifying claims in the chapter 11 proceeding can seek to recover on such claims from the Fund in accordance with the FCC-approved Fund agreement between EchoStar and the Fund Trustee. That agreement can be found here: https://www.fcc.gov/ecfs/document/26109942496/1 Advisors White & Case LLP is serving as legal counsel to the Filing Entities, and FTI Consulting, Inc. is serving as financial advisor to the Filing Entities. Additional Information Court filings and other information regarding the case can be found at https://dm.epiq11.com/DBS or by contacting Epiq Corporate Restructuring, the noticing and claims agent, at (888) 873-0758 (for toll-free U.S. calls) or +1 (971) 414-3498 (for international calls). Please note that these resources are for information about the restructuring process only; all other customer service and support infrastructure and contact information for the Company remains active and operational. About Dish DBS Corp. DISH DBS Corporation, through its subsidiaries, provides pay-TV services under the DISH and Sling brands in the United States. The company was founded in 1996 and is headquartered in Englewood, Colorado. DISH DBS Corporation is a subsidiary of DISH Network Corporation. Dish DBS Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90627) on June 30, 2026. Honorable Bankruptcy Judge Christopher M. Lopez handles the case. The Debtor is represented by Charles R. Koster, Esq. of White & Case. ECHOSTAR CORP: Charles Ergen Maintains 51% Stake as of June 26 -------------------------------------------------------------- Charles W. Ergen, Cantey M. Ergen, Ergen Two-Year July 2024 SATS GRAT, Ergen Two-Year May 2025 SATS GRAT, Ergen Two-Year June 2025 SATS GRAT, Ergen Two-Year July 2025 SATS GRAT, Ergen Two-Year June 2026 SATS GRAT, and Telluray Holdings, LLC disclosed in a Schedule 13D (Amendment No. 66) filed with the U.S. Securities and Exchange Commission that as of June 26, 2026, they beneficially own the following shares of EchoStar Corp's Class A Common Stock, $0.001 par value per share, based on 159,081,159 shares of Class A Common Stock outstanding on June 26, 2026: * Charles W. Ergen: 148,681,314 shares, representing 51% of the class. * Cantey M. Ergen: 147,197,344 shares, representing 50.7% of the class. * Ergen Two-Year July 2024 SATS GRAT: 18,561,842 shares, representing 10.5% of the class. * Ergen Two-Year May 2025 SATS GRAT: 23,097,210 shares, representing 12.7% of the class. * Ergen Two-Year June 2025 SATS GRAT: 14,483,467 shares, representing 8.3% of the class. * Ergen Two-Year July 2025 SATS GRAT: 8,000,000 shares, representing 4.8% of the class. * Ergen Two-Year June 2026 SATS GRAT: 4,300,000 shares, representing 2.6% of the class. * Telluray Holdings, LLC: 62,868,198 shares, representing 28.6% of the class. All share amounts include shares of Class A Common Stock and Class B Common Stock of EchoStar Corporation. The shares of Class B Common Stock are convertible into shares of Class A Common Stock on a one-for-one basis at any time. On June 26, 2026, the 2025 June GRAT distributed 2,316,533 shares of Class B Common Stock to Mr. Ergen as an annuity payment, resulting in the 2025 June GRAT having beneficial ownership of 14,483,467 shares of Class B Common Stock. The 2025 June GRAT is scheduled to expire in accordance with its terms on June 26, 2027. The Reporting Persons' beneficial ownership of shares of Class A Common Stock excludes 313,649 shares of Class A Common Stock held by certain trusts established by Mr. Ergen for the benefit of his family. Mr. Ergen and Mrs. Ergen disclaim beneficial ownership of the 2,350,696 shares of Class A Common Stock and 60,517,502 shares of Class B Common Stock held by Telluray Holdings, except to the extent of their pecuniary interest. Mr. Ergen disclaims beneficial ownership of the 1,551,355 shares of Class A Common Stock held by CONX, except to the extent of his pecuniary interest. The reporting persons may be reached through: Jeffrey Blum, Acting CLO 9601 S. Meridian Blvd. Englewood, CO 80112 Tel: 303-723-1000 A full-text copy of Charles W. Ergen, Cantey M. Ergen, Ergen Two-Year July 2024 SATS GRAT, Ergen Two-Year May 2025 SATS GRAT, Ergen Two-Year June 2025 SATS GRAT, Ergen Two-Year July 2025 SATS GRAT, Ergen Two-Year June 2026 SATS GRAT, and Telluray Holdings, LLC's SEC report is available at: About EchoStar Corporation EchoStar Corporation (Nasdaq: SATS) -- www.echostar.com -- is a provider of technology, networking services, television entertainment, and connectivity, offering consumer, enterprise, operator, and government solutions worldwide under its EchoStar, Boost Mobile, Boost Infinite, Sling TV, DISH TV, Hughes, HughesNet, HughesON, and JUPITER brands. In Europe, EchoStar operates under its EchoStar Mobile Limited subsidiary, and in Australia, the Company operates as EchoStar Global Australia. As of March 31, 2026, the Company had $41.38 billion in total assets and $35.7 billion in total liabilities, and total stockholders' equity of $5.68 billion. * * * In Sept. 2025, S&P Global Ratings placed its 'CCC+' Company credit rating on Echostar Corp. and all subsidiaries on CreditWatch with positive implications. S&P also placed the issue-level ratings on Echostar and all its subsidiaries' secured and unsecured debt on CreditWatch with positive implications. S&P plans to resolve the CreditWatch following close of the transaction, expected in mid-2026. ENCORE D.E.C.: Case Summary & Seven Unsecured Creditors ------------------------------------------------------- Debtor: Encore D.E.C., LLC 425 Western Rd, Suite 102 Reno, NV 89506 Business Description: Encore DEC, LLC is a Reno, Nevada-based company that provides engineering, construction, and related services. The company is associated with industrial building construction and has provided services connected to renewable fuels facilities. Chapter 11 Petition Date: June 16, 2026 Court: United States Bankruptcy Court District of Nevada Case No.: 26-50615 Judge: Hon. Hilary L Barnes Debtor's Counsel: Ryan A. Andersen, Esq. ANDERSEN BEEDE WEISENMILLER 3199 E Warm Springs Road Suite 400 Las Vegas, NV 89120 Tel: (702) 522-1992 Fax: (702) 825-2824 E-mail: ryan@abwfirm.com Total Assets: $21,229,292 Total Liabilities: $10,603,032 The petition was signed by Randall Soule as managing member. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/UQMQH6Y/ENCORE_DEC_LLC__nvbke-26-50615__0001.0.pdf?mcid=tGE4TAMA List of Debtor's Seven Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Davis Company Inc. Trade Debt $142,053 Attn: Bankruptcy Dept. 1472 Linda Wy Sparks, NV 89431 2. Debra Howell Monies Loaned $200,000 Attn: Bankruptcy Court 9715 Thesolious Lane Reno, NV 89521 3. Northern Nevada Concrete Trade Debt $69,079 Attn: Bankruptcy Dept. 50 A West Ave of the Colors Sparks, NV 89434 4. Ohana Enterprises, LLC Monies Loaned $5,867,000 Attn: Bankruptcy Dept. 9000 Bellhaven Rd. Reno, NV 89511 5. Reliant Electric Trade Debt $64,400 Attn: Bankruptcy Dept. 685 Edison Way Reno, NV 89502 6. South Tek Systems Trade Debt $310,500 Attn: Bankruptcy Dept. 3700 HWY 421 N Wilmington, NC 28401 7. Tomar LLC Lawsuit $0 Attn: Bankruptcy Department 4625 Polaris Ave #212 Las Vegas, NV 89103 ENCORE DEC: Hires Andersen Beede Weisenmiller as Attorney --------------------------------------------------------- Encore D.E.C., LLC seeks approval from the U.S. Bankruptcy Court for the District of Nevada to employ Andersen Beede Weisenmiller as attorney. The firm will provide these services: a. advise the Debtor with respect to its powers and duties as a debtor and debtors-in-possession in the continued management and operation of its business and property; b. attend meetings and negotiate with representatives of creditors and other parties in interest and advise and consult on the conduct of the Chapter 11 case, including the legal and administrative requirements of operating in Chapter 11; c. take all necessary action to protect and preserve the bankruptcy estate, including the prosecution of actions on Debtor's behalf, the defense of any actions commenced against the bankruptcy estate, negotiations concerning all litigation in which Debtor may be involved, and objections to claims filed against the bankruptcy estate; d. prepare on behalf of Debtor all motions, applications, answers, orders, reports, and papers necessary to the administration of the estate; e. negotiate and prepare on Debtor's behalf plan(s) of reorganization, disclosure statement(s), and all related agreements and/or documents and take any necessary action on behalf of Debtor to obtain confirmation of such plan(s); f. advise Debtor in connection with any sale of assets; g. appear before this Court, any appellate courts, and the U.S. Trustee, and protect the interests of the bankruptcy estate before such courts and the U.S. Trustee; and h. perform all other necessary legal services and provide all other necessary legal advice to Debtor in connection with its Chapter 11 case. The firm will be paid at these rates: Ryan A. Andersen, Esq. $690 per hour Mark M. Weisenmiller, Esq. $650 per hour Michael N. Beede, Esq. $650 per hour Tali Frey, Esq. $350 per hour Paralegals $195 per hour The firm was paid an initial retainer of $60,000. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Andersen, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Ryan A. Andersen, Esq. Andersen Beede Weisenmiller 3199 E Warm Springs Rd, Ste 400 Las Vegas, NV 89120 Telephone: (702) 522-1992 Facsimile: (702) 825-2824 Email: ryan@abwfirm.com About Encore D.E.C., LLC Encore D.E.C., LLC is a Reno, Nevada-based engineering, procurement, and construction company engaged in providing integrated project delivery services across industrial and commercial sectors. Encore D.E.C., LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-50615) on June 16, 2026. In its petition, the debtor reported estimated assets of $21.2 million and estimated liabilities of $10.6 million, indicating funds may be available for unsecured creditors. Honorable Bankruptcy Judge Hilary L. Barnes handles the case. The debtor is represented by Ryan A. Andersen of Andersen Beede Weisenmiller. ENERGY TRANSFER: S&P Assigns 'BB+' Rating to 2026A/B Jr. Sub Notes ------------------------------------------------------------------ S&P Global Ratings assigned its 'BB+' issue-level rating to Energy Transfer L.P.'s (ET; BBB/Stable/--) proposed Series 2026A and Series 2026B junior subordinated notes due 2057. ET is a Dallas-based midstream energy master limited partnership. ET plans to use the net proceeds from this offering to redeem all or part of its outstanding Series H $900 million preferred shares, refinance existing debt--including repayment of commercial paper and borrowings under its revolving credit facility--and for general partnership purposes. S&P said, "We consider these notes to have intermediate equity content, given their subordinate status, permanence, and flexibility to defer payments. To calculate ET's consolidated credit ratios, we will treat 50% of the issuance as equity." Although the notes have a maturity of more than 30 years, S&P deems 2037 as the effective maturity date. At that time, the notes will receive no equity content because their effective maturity will be less than 20 years. F O & O INC: Gets Final OK to Use Cash Collateral ------------------------------------------------- F O & O, Inc. received final approval from the U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division, to use cash collateral. Under the final order, the Debtor is authorized to use cash collateral to pay the expenses set forth in its budget, subject to a 10% variance per line item. This authority remains in effect until the earliest of the effective date of the Debtor's Chapter 11 Subchapter V plan, the Debtor's failure to timely file a plan, or a court determination that the Debtor has materially breached the final order. The Debtor projects total monthly operational expenses of $165,992.06 The court required the Debtor to remit 80% of any income exceeding the budgeted amount by more than 10% to Citizens National Bank of Texas, the senior secured lender, while allowing the Debtor to retain the remaining 20% of the excess income. This requirement applies only to excess income received during the budget period. Aside from Citizens National Bank of Texas, the other secured creditors that may have interests in the Debtor's cash, accounts receivable, bank accounts, and related assets, are Forest Capital, Oakwood, Stage/Slate, and Highland Hill Omega Recovery. As adequate protection, all secured creditors will be granted replacement liens on post-petition cash collateral to the same extent, validity, and priority as their pre-petition liens. The court emphasized that the final order does not determine the validity, priority, extent of any liens, or the amount of any secured claim. All rights, claims, defenses, and objections concerning the secured creditors' liens and claims are reserved for the Debtor and all other parties in interest. The order is available at http://bankrupt.com/misc/FOandO_FCCOrder61.pdf About F O & O Inc. F O & O, Inc. is a Texas-based utility contractor operating in fiber optics. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-31941) on May 3, 2026. In the petition signed by Martin Derrick Norwood Jr, president, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Scott W. Everett oversees the case. Steven E. Wallace, Esq., at Wallace Law, PLLC, represents the Debtor as legal counsel. FIGURE TECHNOLOGY: S&P Assigns 'B+' Long-Term ICR, Outlook Stable ----------------------------------------------------------------- S&P Global Ratings assigned its 'B+' long-term issuer credit rating to Figure Technology Solution Inc. and its 'B+' issue-level rating and '4' recovery rating to the proposed $600 million senior unsecured notes, reflecting its expectation for average (30%-50%) recovery in the event of a payment default. The stable outlook reflects S&P's expectation that Figure will operate with leverage of 2.0x-3.0x over the next 12 months while growing its ecosystem volume and maintaining access to securitization markets. Founded in 2018, Figure Technology Solution Inc. is a blockchain-native fintech company that integrates consumer lending with digital asset infrastructure. The company plans to issue $600 million of senior unsecured notes for general corporate purposes, including potential acquisitions. Figure benefits from a cutting-edge tech platform and business model that creates strong cost efficiencies. However, the company is concentrated in home equity lines of credit (HELOCs) and depends on securitization markets and forward-flow agreements for its funding. S&P's rating on Figure reflects certain risks that offset its tech platform and strong cost efficiencies. These risks include Figure's concentration in HELOC loans, dependence on securitization markets and forward-flow agreements for funding, and exposure to the underlying credit risk of the securitized loans (to the extent of the risk retention residual it holds in securitizations). S&P expects the growing portion of partner-originated loans to benefit the company by allowing it to maintain a capital-light balance sheet and reduce its direct exposure to credit and funding volatility. Figure primarily generates revenue through ecosystem, technology, and origination fees tied to its loan origination system and Figure Connect platform. The company originates loans through three channels: Figure Connect, Figure-Branded, or Figure as an intermediary. Figure Connect originations are the largest and fastest-growing channel. These loans come from a broad network of mortgage originators, servicers, banks, wholesale brokers, and credit unions that leverage Figure's white-label consumer portal, which provides automated underwriting, loan-decisioning software, and loan closing tools. As of year-end 2025, Figure had 307 partners, and the company expects partner volume to reach 60% of origination volume in 2026, up from 46% in 2025. Figure-Branded origination occurs directly on Figure's platform, funded by the company's warehouse facilities. The company expects this channel to account for approximately 23% of 2026 origination volume, relatively flat from 2025. Figure as an intermediary is the legacy model. In this model, Figure acts as an intermediary to facilitate loan funding for partners, supporting both broker and correspondent relationships. S&P believes dependence on partner relationships could be a risk. While Figure can originate loans itself, it believes its model relies on partners to keep its balance sheet light. Partners, however, may choose to retain production or sell loans elsewhere, which could reduce the flow of assets into the Figure ecosystem. Sustained shifts in partner behavior could weaken origination volume and limit Figure's ability to scale efficiently. S&P views Figure's concentration in HELOC loans as a risk. Figure has benefited from a strong HELOC market over the past few years, which has been the primary factor in its rapid origination growth. With home equity levels at historic highs and cash-out refinancing remaining unattractive amid high rates, demand for HELOCs has been strong, creating a favorable backdrop for Figure's model. However, this momentum also creates concentration risk. HELOCs are 98% of Figure's originations, leaving the business exposed to the rate environment and increased refinancings in residential mortgage markets, or to a rise in borrower delinquencies. While Figure is expanding into adjacent home loan products, it expects HELOCs to continue to make up most originations over the next 12-24 months. S&P will monitor how quickly Figure can scale its exposure to other loan types, including residential transition loans and debt service coverage ratio loans through its acquisition of Kiavi, a residential transition loan lender. Figure faces credit quality risks from its obligation to retain 5% of securitized loans under risk retention rules. Since inception, the company has enabled $21.5 billion of loan originations. As of Dec. 31, 2025, Figure retained $273 million (fair value) of those loans on its books. While S&P doesn't expect significant impairments to the value of these loans, exposure to risk retention interest remains a risk, particularly in the event of unfavorable macroeconomic developments or weakening consumer loan performance. As of Dec. 31, 2025, delinquencies of 60+ days were a modest portion of unpaid principal balance, but this number could rise during times of stress in the housing market. S&P said, "We view Figure's reliance on securitization markets for funding as an inherent risk. Like other companies that operate an originate-to-sell business model, Figure remains vulnerable to disruptions in securitization markets and changing sentiments about HELOC loans. "We think the company's dual-class share structure could meaningfully influence stockholder outcomes. The share structure--with one vote per class A share and 10 votes per class B share--creates an imbalance that concentrates decision-making authority, in our view. Under this structure, co-founder and executive chairman, Michael Cagney, and board member June Ou control about 68% of the voting power, which we think could affect decision making with respect to board composition, the company's strategic direction, and potential transactions requiring shareholder approval. "We view Figure Connect as a potential driver of future growth because of its value proposition for partners." Launched in June 2024, Figure Connect is a blockchain-based marketplace where lenders and investors can fund, trade, and sell loans. Figure generates revenue by charging fees on the transactions between lenders and investors. Through Figure Connect, in addition to secure recordkeeping, partners can generate higher profits, providing a strong incentive to use the marketplace. As of Dec. 31, 2025, approximately $3.9 billion in HELOC volume has been transacted on Figure Connect. All loan-level data is recorded on the Provenance Blockchain, which provides the validation mechanism to track and monitor every transaction and change in ownership. On the Provenance Blockchain is the company's Digital Asset Registration Technologies (DART) platform, which serves as the blockchain-based lien and eNote registry that tracks the servicing rights and loan ownership. S&P views DART's ability to prevent double-pledging and track loans as they move through the ecosystem as a competitive advantage. As of the end of last year, 87% of loans originated through the loan origination system used the DART platform, compared with 2% in 2024. Figure's cost efficiencies are a business advantage. The company's median production cost per loan is $717, well below the industry average of about $11,000. Its average time to fund loans is 10 days, well below the industry average of 43 days. Low costs and the speed of funding make Figure appealing for partners, because they're able to originate smaller loan balances. Lower production costs enable partners to originate smaller loans while still generating a profit. S&P said, "We expect that Figure would operate with leverage of 2.0x-3.0x over the next 12 months. This considers the proposed issuance, the acquisition of Kiavi, and the repayment of the mortgage servicing rights facility. We also expect EBITDA interest coverage of 3.0x-6.0x over the same period. In addition to our leverage forecast, our assessment of the company's financial risk considers the potential for volatility in the key leverage and EBITDA interest coverage ratios during periods of stress. "In our calculation of adjusted debt, we include funding debt, mortgage servicing rights financing (which we assume the company paid down at maturity in June 2026), the retained interest facility, Democratized Prime YLDS, and the proposed senior unsecured notes. We also include lease liabilities and would include any contingent considerations related to acquisitions. "In our calculation of adjusted EBITDA, we add back share-based compensation and costs related to operating leases. "We apply a criteria exception to our "Corporate Methodology: Ratios And Adjustments" criteria to better reflect Figure's leverage. Under this exception, we exclude from our leverage calculation any off-balance-sheet securitized assets that are sold through a true-sale structure, where we do not assume any implicit or explicit support from Figure. "The stable outlook reflects our expectation that Figure will operate with leverage of 2.0x-3.0x over the next 12 months while growing its ecosystem volume and maintaining access to securitization markets." S&P could lower its rating on Figure over the next 12 months if: -- It sustains leverage above 3.0x -- Liquidity deteriorates meaningfully -- Asset quality and underwriting performance weaken S&P said, "We could raise the rating if Figure diversifies its business and grows origination volume while maintaining strong underwriting standards and access to securitization markets through diversified funding sources. We could also raise the rating if leverage declines and remains below 2.0x." FINANCE OF AMERICA: Majority Stockholders OK Charter Amendment -------------------------------------------------------------- Finance of America Companies Inc. announced in a regulatory filing that upon the recommendation of the board of directors, certain stockholders of record as of June 26, 2026, who hold a majority in voting power of the outstanding shares of capital stock of the Company, acting as a single class, and a majority in voting power of the outstanding shares of the Company's Class B Common Stock, acting as a separate class, executed and delivered a written consent to approve the amendment and restatement of the Company's Amended and Restated Certificate of Incorporation. Under the Current Charter, on all matters on which the holders of Class B Common Stock are entitled to vote, each holder of Class B Common Stock is entitled to cast a number of votes equal to the number of outstanding Class A Units of Finance of America Equity Capital LLC, a company that the Company controls in an "Up-C" structure, held by such holder, regardless of the number of shares of Class B Common Stock held by such holder. The Second Amended and Restated Charter will, among other things: (i) reclassify the outstanding shares of Class B Common Stock such that each holder of outstanding LLC Units will hold, following the reclassification, a number of shares of Class B Common Stock equal to the number of LLC Units held by such holder, (ii) provide that each share of Class B Common Stock shall have one vote on matters on which the holders of Class B Common Stock are entitled to vote, (iii) make changes to reflect recent amendments to the General Corporation Law of the State of Delaware, including the ability to provide for the exculpation of the Company's executive officers, and (iv) make other technical changes, including to reflect the repurchase of equity previously held by affiliates of Blackstone Inc. In accordance with Section 228 of the DGCL, the Current Charter and the Company's Amended and Restated Bylaws, the written consent, in lieu of a meeting, was approved by the consenting stockholders, who as of the Record Date collectively held 1,790,045 shares of the Company's Class A Common Stock and 7,864,920 LLC Units, representing approximately 53.9% of the voting power of the Company's outstanding shares of capital stock (Class A Common Stock, Class B Common Stock and Series A Convertible Perpetual Preferred Stock (on an as converted basis, subject to a 4.9% voting cap)) as of the Record Date and approximately 97.2% of the voting power of the outstanding Class B Common Stock as of the Record Date. The Company elected to seek written consent in lieu of holding a meeting of stockholders to significantly reduce the costs and management time involved in soliciting and obtaining proxies to approve the Second Amended and Restated Charter, and in order to effectuate the related updates in a timely manner. Additional details about the Second Amended and Restated Charter and associated matters will be included in the Company's definitive Information Statement on Schedule 14C to be filed with the Securities and Exchange Commission; the Company filed a preliminary Information Statement with the SEC on June 30, 2026. The summary of the Second Amended and Restated Charter set forth above is qualified in its entirety by reference to the form of Second Amended and Restated Charter, which will be filed as an annex to the definitive Information Statement. The Second Amended and Restated Charter will become effective upon filing with the Secretary of State of the State of Delaware, which may be as early as the 20th day after the definitive Information Statement is mailed to the Company's stockholders who did not execute the written consent approving the Second Amended and Restated Charter. Until the Second Amended and Restated Charter is filed with the Secretary of State of the State of Delaware, the board of directors of the Company retains discretion: (i) as to whether to file one form of Second Amended and Restated Charter containing all approved changes to the Current Charter and (ii) to elect to abandon any of the approved amendments prior to filing the Second Amended and Restated Charter if it determines, in its sole discretion, that any such amendment is no longer in the best interests of the Company and its stockholders. About Finance of America Plano, Texas-based Finance of America Companies Inc. is a financial services holding company. Through its operating subsidiaries, it operates as a modern retirement solutions platform, providing customers with access to an innovative range of retirement offerings centered on the home. In addition, Finance of America offers capital markets and portfolio management capabilities to optimize distribution to investors. As of March 31, 2026, the Company had $31.3 billion in total assets, $30.9 billion in total liabilities, and a total stockholders' equity of $438.1 million. * * * In December 2025, Fitch Ratings affirmed the Long-Term Company Default Ratings (IDRs) of Finance of America Companies Inc. and its subsidiaries, Finance of America Equity Capital LLC and Finance of America Funding LLC (collectively, FOA) at 'CCC'. A Positive Rating Outlook has been assigned. Fitch has also affirmed Finance of America Funding's senior secured rating at 'CCC-' with a Recovery Rating of 'RR5'. This rating action has been taken as part of a periodic peer review of non-bank mortgage companies, which is comprised of seven publicly rated firms. FU BANG: Hires Cox Castle & Nicholson LLP as Special Counsel ------------------------------------------------------------ Fu Bang Group Corp (USA) and affiliates seek approval from the U.S. Bankruptcy Court for the Central District of California to employ Cox, Castle & Nicholson LLP as special counsel. The firm will serve as land use counsel regarding the Dos Lagos parcels located in the City of Corona, California. The firm will be paid at these rates: Sean Matsler, Partner $1095 per hour EJ Schloss, Associate $870 per hour Danny Gorczyca, Associate $605 per hour Senior Partners Up to $1170 per hour Associates Starting at $580 per hour Paralegal Assistants $385 to $530 per hour The firm will be paid a retainer in the amount of $25,000. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Sean Matsler disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Sean Matsler, Esq. Cox, Castle & Nicholson LLP 3121 Michelson Drive, Suite 200 Irvine, CA 92612 About Fu Bang Group Corp USA Fu Bang Group Corp USA is a real estate company that owns and manages a single property. Fu Bang Group Corp USA sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-13004) on May 7, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge Scott H. Yun handles the case. The Debtors are represented by Derrick Talerico, Esq. at WEINTRAUB, ZOLKIN TALERICO & SELTH LLP. First Credit Bank, as lender, is represented by Dennette A. Mulvaney, Esq. at STINSON, LLP LEECH TISHMAN NELSON HARDIMAN INC. Sparknest, LLC, as lender, is represented by David Golubchik, Esq. at LEVENE NEALE BENDER YOO & GOLUBCHIK L.L.P. GABBY INVESTMENT: To Sell East Haverhill Property ------------------------------------------------- Gabby Investment LLC seeks approval from the U.S. Bankruptcy Court for the District of Massachusetts, to sell Property, free and clear of liens, claims, interests, and encumbrances. A Subchapter V Trustee has been assigned, and a functional Debtor-in-Possession (DIP) bank account is active. To preserve the maximum value of the estate and prevent a value destructive forced auction, the Debtor has executed an arms-length Purchase and Sale Agreement to sell the Property for $610,000. The Property is located at 106 East Haverhill Street in Massachusetts. The buyer is an independent, good-faith third party with verified financial readiness. Financing consists of a $340,000 third-party lender financing commitment and $270,000 in verified liquid cash balances The $610,000 contract price represents the highest and best offer received for the property in its current "as-is" condition (noting the first floor requires rehab), completely outpacing previous distressed investor offers of approximately $500,000. The Debtor files for emergency relief because the Lender's pending July 22, 2026 auction date creates an immediate cloud on title, threatens the viability of the private sale contract, and risks an irreversible violation of the automatic stay. About Gabby Investment LLC Gabby Investment LLC is a privately held investment and asset-holding company engaged in the ownership, management, and administration of investment-related assets and business interests. Gabby Investment LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-40673) on June 5, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $100,001 to $1 million. Honorable Bankruptcy Judge Elizabeth D. Katz handles the case. The Debtor is represented by Marcus L. Scott, Esq. of ScottCollins, LLP. Stephen Darr serves as Subchapter V Trustee. GOLDENPEAKS POLAND: Bid Rules for Energy Biz Asset Sale OK'd ------------------------------------------------------------ The U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, has granted Goldenpeaks Poland Holand Limited and its affiliates, conduct bidding procedures for the sale of substantially all Assets at auction, free and clear of liens, claims, interests, and encumbrances. The Debtors are part of the Group founded in 2006, which is an independent renewable energy power producer in Eastern Europe and the largest owner of utility scale solar photovoltaic assets in Poland. The Group's purpose has been to become a vertically integrated renewable energy producer with the capability to finance, develop, construct, operate, and sell solar power projects, capitalizing on its employees' expertise in project development and power purchase agreement negotiations. The Debtors are currently part of a larger group of companies (the "Group") that own and operate a renewable energy platform that includes integration of project development and engineering, financing and structuring, supply chain management, construction and commissioning, asset operations, and commercial and energy sales, among others, where all services have been historically provided by the wider group. The Debtors expect to separate from the Group in the near term, including transitioning their governance and operational functions away from that group. The Debtors engage Houlihan Lokey as investment banker. On June 24, 2026, the Debtors entered into the Stalking Horse Asset Purchase Agreement (APA) with the Stalking Horse Bidder, Bid Administrator, LLC and certain funds and accounts managed by Brookfield Asset Management Limited, or affiliates and designees. The Debtors seek approval of the Bid Procedures to establish a clear and open process for the solicitation, receipt, and evaluation of overbids on a timeline that allow the Debtors to consummate a Sale of substantially all of the Debtors' Assets that will be reasonable and will provide parties with sufficient time and information to submit a competitive bid. The Court has granted the Debtor's Motion to conduct bidding procedures for the sale of the Property. The Debtors shall present the results of the Auction (if any) or otherwise present any Successful Bidders to the Court at the Sale Hearing. The Bid Procedures are approved, and the Debtors are authorized to solicit bids and conduct an Auction, if necessary, on the terms set forth in the Bid Procedures. The Bid Procedures shall govern the submission, receipt, and analysis of all bids, and any party desiring to submit a bid on the Assets must do so strictly in accordance with the terms of the Bid Procedures and the Order. The Debtors are authorized to take all actions as are reasonably necessary or appropriate to implement the Bid Procedures. The deadline for all Potential Bidders to submit a Qualified Bid (other than the Stalking Horse Bidder's deemed Qualified Bid) is July 27, 2026 at 5:00 p.m. (prevailing Central Time). By July 29, 2026, the Debtors shall file a notice on the Court's docket providing notice as to whether the Auction will be held virtually or hybrid (i.e. both in-person and virtually) and, if hybrid, the in-person location of the Auction. On or before July 31, 2026, the Debtors will file with the Court and serve on the Sale Notice Parties and on all Contract Counterparties to Transferred Contracts included in the Successful Bid(s), the Notice of Successful Bidder. The Buyer is designated and approved as the Stalking Horse Bidder for the Assets pursuant to the terms of the Stalking Horse APA. All persons and entities that participate in the Sale Process and/or the Auction(s) shall be deemed to have knowingly and voluntarily submitted to the exclusive jurisdiction of the Court with respect to all matters related to the Bid Procedures, the Sale Process, and the Auction(s). About GoldenPeaks Poland Holding Ltd GoldenPeaks Poland Holding, Ltd is a renewable energy group headquartered in Pieta, Malta. The company owns, builds, and optimizes renewable energy projects, producing power through arrangements including government and corporate power purchase agreements. Its activities include project development, engineering, construction, operations and maintenance, Green Credit trading, and support services for renewable energy operations. The group operates a renewable energy platform in Eastern Europe, including utility-scale solar photovoltaic assets in Poland, and is developing energy storage systems to supplement its existing assets. GoldenPeaks and its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 26-90564) on May 29, 2026. In the petition signed by Jame Donath, non-executive director, GoldenPeaks reported assets of between $1 billion and $10 billion and liabilities of between $500 million and $1 billion. disclosed up to $10 billion in both assets and liabilities. Judge Alfredo R. Perez oversees the cases. The Debtors tapped Pachulski Stang Ziehl & Jones, LLP as bankruptcy counsel and Kroll Restructuring Administration, LLC as claims, noticing, and solicitation agent. HILTON GRAND: S&P Assigns 'BB' Rating on Proposed Term Loan B ------------------------------------------------------------- S&P Global Ratings assigned its 'BB' issue-level rating and '2' recovery rating to Hilton Grand Vacations Inc.'s (HGV; BB-/Negative/--) proposed term loan B due 2033. The '2' recovery rating indicates its expectation for substantial (70%-90%; rounded estimate: 70%) recovery for senior secured lenders in a hypothetical default. The company intends to use the proceeds to refinance its outstanding term loan B due 2028. S&P continues to expect HGV will reduce leverage to around 5.5x in 2026 as the company recognizes sales associated with its Kyoto and Ka Haku projects. Its Kyoto property opened in March 2026, and its Ka Haku property is expected to open in the second half of the year. Revenue and direct costs associated with vacation ownership interval sales tied to properties under construction are deferred until the property is opened. Additionally, the company will benefit from reduced acquisition and integration expense in 2026 compared with 2025. Nonetheless, HGV continues to repurchase its shares at an elevated rate compared with historical averages (approximately $150 million per quarter since the start of 2025), which has delayed deleveraging following its acquisition of Bluegreen Vacations. S&P said, "As a result, we expect the company will remain close to our 5.5x downgrade threshold through the first half of 2027. The negative outlook reflects our expectation HGV will sustain S&P Global Ratings-adjusted leverage about 5.5x through 2026 as it completes the integration of Bluegreen Vacations and prioritizes share repurchases over debt repayment, which will lead to leverage above its policy target through 2026." Issue Ratings--Recovery Analysis Key analytical factors -- S&P said, "We rate the company's secured debt 'BB', including its proposed $850 million term loan B due 2033, its existing $1 billion senior secured revolver, $400 million term loan A due 2028, $884 million outstanding term loan B due 2031, and $900 million of senior secured notes due 2031. The '2' recovery rating indicates our expectation for substantial (70%-90%; rounded estimate: 70%) recovery for the senior secured lenders in a hypothetical default." -- S&P said, "We rate the company's senior unsecured notes 'B'. The '6' recovery rating indicates our expectation for negligible (0%-10%; rounded estimate: 0%) recovery for the unsecured lenders in a hypothetical default." -- S&P said, "Our simulated default scenario contemplates a default occurring by 2030 due to a severe economic downturn, tighter consumer credit markets, and an overall decline in the popularity of timeshares as a vacation alternative, which substantially reduces the demand for HGV's products. In addition, we assume a period of illiquidity in the financial markets for timeshare securitizations and conduit facilities." -- S&P values HGV as a going concern by applying a 6x multiple to its estimate of its emergence EBITDA, and assume it would reorganize following a default. Simulated default assumptions -- Year of default: 2030 -- Emergence EBITDA: $521 million -- EBITDA multiple: 6x -- Revolving credit facility: 85% drawn Simplified waterfall -- Net recovery value for waterfall after administrative expenses (5%): $2.97 billion -- Obligor/nonobligor valuation split: 95%/5% -- Estimated senior secured debt claims: $3.96 billion -- Value available for senior secured debt claims (including 65% stock pledge from nonobligor group): $2.86 billion --Recovery expectations: 70%-90% (rounded estimate: 70%) -- Estimated unsecured debt and deficiency claims: $2.51 billion -- Value available for senior unsecured debt claims: $52 million --Recovery expectations: 0%-10% (rounded estimate: 0%) Note: All debt amounts include six months of prepetition interest. HIS WAY SIGN: Seeks Chapter 11 Bankruptcy in North Carolina ----------------------------------------------------------- On July 2, 2026, His Way Sign Service and Install, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Middle District of North Carolina. According to court filings, the Debtor reports between $500,000 and $1 million in debt. The Statement of Financial Affairs and Disclosure of Compensation of Officers, Partners, Directors, and Members are due by July 16, 2026. About His Way Sign Service and Install, LLC His Way Sign Service and Install, LLC is a High Point, North Carolina-based sign manufacturing and installation services provider. The company offers sign design, installation, and parking lot lighting maintenance services. His Way Sign Service and Install, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10526) on July 2, 2026. In its petition, the Debtor reports estimated assets of $100,000 to $500,000 and estimated liabilities of $500,000 to $1 million. Honorable Benjamin A. Kahn handles the case. The Debtor is represented by Samantha K. Brumbaugh, Esq. of Ivey, McClellan, Siegmund, Brumbaugh & McDonough, LLP. ICORECONNECT INC: Trustee Hires Cadence Consulting as Consultant ---------------------------------------------------------------- Robert Morrison, the Trustee for ICoreconnect Inc., seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to employ Cadence Consulting Services, LLC, as consultant. The firm will provide these services: a. assist Tax Professional in the preparation and filing of 2024 and 2025 Federal and State Income Tax Returns for iCoreConnect Inc. and Subsidiary. Pay any outstanding income tax amounts to the relevant jurisdiction; b. prepare, file, pay and close any outstanding Sales and Use Tax, Withholding Tax or other tax by jurisdiction registered; c. analyze unresolved claims; d. assist with analysis of any avoidance actions pursued by the Trustee; e. pay any authorized amounts by the U.S. Bankruptcy Court to the authorized party; and f. assist Trustee in obtaining and providing any needed information requests on iCoreConnect (formerly FG Merger Corp), iCore Midco Inc. (formerly iCoreConnect Inc.). The firm will be paid at these rates: Archit Shah $300 per hour In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Shah disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Archit Shah, CPA, CA, CPA Cadence Consulting Services, LLC 11858 Aurelio Lane Orlando, FL Telephone: (917) 945-0978 About iCoreConnect Inc. iCoreConnect Inc. provides cloud-based software solutions for the healthcare sector across the United States. Its SaaS offerings support functions such as ePrescribing, insurance verification, claims management, analytics, and HIPAA-compliant communication and backup. The company is headquartered in Ocoee, Florida. iCoreConnect and iCore Midco Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Lead Case No. 25-03390) on June 2, 2025. In its petition, iCoreConnect reported between $1 million and $10 million in both assets and liabilities. Judge Grace E. Robson handles the cases. The Debtors tapped Amy Denton Mayer, Esq., at Stichter, Riedel, Blain & Postler, PA as bankruptcy counsel and Bhavsar Law Group, PA as special immigration counsel. ICORECONNECT INC: Trustee Taps Stretto Inc. as Distribution Agent ----------------------------------------------------------------- Robert Morrison, the Trustee for ICoreconnect Inc., seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to employ Stretto, Inc. as distribution agent. The firm will provide these services: a. manage and coordinate any distributions pursuant to a chapter 11 plan; b. provide claims analysis and reconciliation; and c. issue annual IRS Form 1099s to creditors receiving distributions. The firm will be paid at these rates: Associate $475 per hour Senior Associate $475 per hour Director $550 per hour Managing Director $625 per hour Senior Managing Director $705 per hour In addition, the firm will seek reimbursement for its out-of-pocket expenses. Ms. Betance disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Sheryl Betance 410 Exchange, Ste. 100, Irvine, CA 92602 Telephone: (800) 634-7734 About iCoreConnect Inc. iCoreConnect Inc. provides cloud-based software solutions for the healthcare sector across the United States. Its SaaS offerings support functions such as ePrescribing, insurance verification, claims management, analytics, and HIPAA-compliant communication and backup. The company is headquartered in Ocoee, Florida. iCoreConnect and iCore Midco Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Lead Case No. 25-03390) on June 2, 2025. In its petition, iCoreConnect reported between $1 million and $10 million in both assets and liabilities. Judge Grace E. Robson handles the cases. The Debtors tapped Amy Denton Mayer, Esq., at Stichter, Riedel, Blain & Postler, PA as bankruptcy counsel and Bhavsar Law Group, PA as special immigration counsel. IMAGINATION ENTERPRISES: Gets Extension to Access Cash Collateral ----------------------------------------------------------------- Imagination Enterprises, LLC received another extension from the U.S. Bankruptcy Court for the Middle District of Florida, Orlando Division, to use cash collateral. The court entered a second interim order authorizing the Debtor to use cash collateral through Aug. 19 based on a court-approved budget, subject to a 10% variance per line item. The budget projects total operational expenses of $1,274,056 for the period from May to October. It includes a carveout for statutory fees payable to the Clerk of Court and the U.S. Trustee. As of the petition date, the Debtor held $16,590.48 in cash collateral in its PayPal account. The Debtor's post-petition operating receipts are also expected to constitute cash collateral. The secured creditors with interest in the cash collateral include Fox Funding Group, LLC, Unique Funding Solutions, LLC, United First, LLC, and CFG Merchant Solutions, LLC As adequate protection, secured creditors will be granted replacement liens on all post-petition cash collateral to the same extent as their valid pre-petition liens. The order preserves the rights of the Debtor and other parties to challenge the validity, extent, priority, or enforceability of those asserted liens. The next hearing is scheduled for Aug. 19. The Debtor must file a budget-to-actual report for the preceding month no later than two days before the continued hearing. The order is available at http://bankrupt.com/misc/ImaginationEnterprises_ICCOrder57.pdf About Imagination Enterprises LLC Imagination Enterprises, LLC makes home-fragrance products including candles, wax melts, room sprays, fragrance oils, air fresheners, and foaming hand soaps. It conducts business under the name Magic Candle Company, and is based in Orlando, Florida. Imagination Enterprises sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-02562) on April 10, 2026, with assets of up to $50,000 and liabilities of between $1 million and $10 million. Keith Michael Mahne, president of Imagination Enterprises, signed the petition. Judge Hon. Grace E. Robson oversees the case. The Debtor is represented by: Chad T. Van Horn, Esq. Van Horn Law Group PA Tel: 954-637-0000 Email: chad@cvhlawgroup.com INTEGRITY IRON: Files Chapter 11 Bankruptcy to Avert Receivership ----------------------------------------------------------------- Justin Wingerter of BusinessDen reports that Integrity Iron filed for Chapter 11 bankruptcy after years of financial hardship linked to a costly building collapse and an ensuing dispute with lender BOK Financial. The Commerce City-based steel fabricator said the accident caused losses approaching $1 million, while insurance proceeds totaled only $44,000, creating a financial burden that continued to weigh on the business. The situation worsened when BOK Financial sued the company and sought the appointment of a receiver over its Commerce City property after alleging loan covenant violations. Although the company remained current on its loan payments, owner Bill Farmer said profitability requirements became unattainable following the accident. The Chapter 11 filing stopped the pending receivership action and provides an opportunity to restructure the company's finances, the report relays. Bankruptcy schedules show approximately $4.2 million in debt and $1.4 million in assets. In addition to its obligations to BOK Financial, Integrity Iron owes significant sums to the Internal Revenue Service, Kapitus, Sunstate Equipment Rental, and the State of Colorado. The company continues serving commercial construction clients while working through its reorganization process, according to report. About Integrity Iron Integrity Iron LLC is a Commerce City, Colorado-based steel fabrication and construction services company providing structural steel erection, crane operations, welding, and custom metal fabrication. Since its establishment in 2006, the company has supported a range of commercial and residential building projects across Colorado, including retail, hospitality, and automotive developments. Integrity Iron LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Col. Case No. 26-14334) on June 16, 2026. In its petition, the Debtor reportsapproximately $4.2 million in debt and $1.4 million in assets. Honorable Bankruptcy Judge Michael E. Romero handles the case. The Debtor is represented by Aaron A. Garber, Esq. INTERNATIONAL SUPPORT: Plan Exclusivity Period Extended to Sept. 30 ------------------------------------------------------------------- Judge Craig A. Pugatch of the U.S. Bankruptcy Court for the Southern District of Florida extended International Support Group LLC's exclusive periods to file a plan of reorganization and obtain acceptance thereof to Sept. 30 and Dec. 29, 2026, respectively. As shared by Troubled Company Reporter, the Debtor is in the business of maintenance of facilities, mostly the Federal Government. The Debtor has been and continues to stabilize its operations and negotiate with certain creditors prior to filing a Plan and Disclosure Statement. Debtor has continued to do internal cost cutting and operational streamlining. The Debtor explains that it has a fairly sizeable operation with approximately 140 employees and other contractors as needed for operations at facilities. Debtor has made good faith and extensive efforts and progress toward a reorganization and to maximize the value to the creditors and estate. Further, the Debtor believes it has a reasonable prospect for filing a confirmable plan of reorganization and has made progress in its negotiations with creditors to date. Debtor is paying its bills as they become due. The Debtor claims that it is requesting this extension of exclusivity in good faith and in no way meant to pressure or prejudice creditors. International Support Group, LLC is represented by: Thomas L. Abrams, Esq. GAMBERG & ABRAMS 1213 S.E. Third Avenue, Second Floor Fort Lauderdale, FL 33316 Telephone: (954) 523-0900 E-mail: tabrams@tabramslaw.com About International Support Group LLC International Support Group, LLC is a facilities maintenance company that has provided services to the federal government since 2009 and operates primarily in Broward County, Florida. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-12738) on March 4, 2026, listing up to $10 million in both assets and liabilities. Robert Bennett, company owner and president, signed the petition. Judge Peter D. Russin oversees the case. The Debtor tapped Thomas L. Abrams, Esq., at Gamberg & Abrams as general bankruptcy counsel and Christopher R. Shiplett, Esq., at Randolph Law, PLLC as special counsel. INTRUSION INC: Completes Initial Acquisition of 60% of OW Cyber --------------------------------------------------------------- Intrusion Inc. announced in a regulatory filing that the Company entered into a Membership Interest Purchase Agreement with OW Cyber LLC, and VigilAigent Corp., the sole member of OW Cyber, pursuant to which it agreed to acquire 100% of the membership interests of OW Cyber from VigilAigent over two distinct closings. First Closing Effective June 29, 2026, the Company acquired 60% of Target's membership interests in exchange for a purchase price of $1,950,000, paid through: (i) a $200,000 credit from a prior deposit (ii) a cash payment of $160,000, and (iii) the issuance of $1,590,000 in unregistered shares of the Company's common stock, par value $0.01 per share, at a contractually defined per share price of $0.67. At the First Closing, the Company issued 2,223,549 shares of Common Stock to the Seller, with 149,254 of such shares deposited in escrow to serve as security for any post-closing indemnification obligations of the Seller, to be released, if at all, after 12 months. Immediately following the issuance of such shares, there were 22,741,846 shares of Common Stock outstanding. The First Closing Purchase Price is subject to a post-closing working capital adjustment based on a target working capital of $(1,365,000). Concurrent with the First Closing, the parties executed the Limited Liability Company Operating Agreement of Target, which recapitalized Target's equity into 100 membership units. Under the terms of the Operating Agreement, the Company was designated as the initial Manager of Target, vesting it with complete and exclusive discretion over Target's day-to-day operations and business affairs. Effective as of the First Closing, Anthony Scott, the Company's President and Chief Executive Officer, a member of the Company's Board of Directors, and the beneficial owner of more than 5% of the Company's common stock, was appointed as Target's Chief Executive Officer and Secretary. The Operating Agreement contains an express minority protection covenant mandating that the Seller will maintain an equity interest of not less than 40.0% in Target unless it explicitly consents otherwise in writing. Second Closing Subject to specified closing conditions -- including obtaining required Company stockholder and Nasdaq Stock Market or other regulatory approvals -- the Company agreed to acquire the remaining 40% of Target's membership interests for a cash payment of $1,300,000. The obligations of the parties to consummate the Second Closing are subject to the satisfaction, or waiver, on or before August 30, 2026 or such later date as may be agreed by the Seller and the Company, of the identified closing conditions. Earn-Out Consideration Following the Second Closing, the Seller may receive up to an additional $6,900,000 in contingent consideration, payable via the issuance of unregistered shares of Common Stock upon the achievement of the following specific financial milestones: * Milestone 1: If, as of March 31, 2027, the Target's ARR Run Rate is equal to $6,000,000 or more and the Target's Adjusted Operating Cash Flow is greater than or equal to $0, the applicable portion of the Earn-Out Consideration payable with respect thereto will be $2,700,000. * Milestone 2: If, as of September 30, 2027, the ARR Run Rate is equal to $7,500,000 or more and the Adjusted Operating Cash Flow is greater than or equal to $750,000, the applicable portion of the Earn-Out Consideration payable with respect thereto will be $2,700,000. * Milestone 3: If, as of March 31, 2028, the ARR Run Rate is equal to $8,600,000 or more, the applicable portion of the Earn-Out Consideration payable with respect thereto will be $2,700,000. Pursuant to the terms of the Agreement and applicable Nasdaq rules, the Company may not issue shares exceeding 19.9% of its issued and outstanding Common Stock unless it obtains required stockholder and Nasdaq approvals. Any issued Earn-Out Shares will be subject to a six-month lock-up period, interspersed with standard leak-out provisions permitting limited daily sales up to 15% of the average daily trading volume. If the Second Closing occurs and Earn-Out Shares are issued, the Company has agreed to use commercially reasonable efforts to register the resale of such shares upon the Seller's request. Additional Terms The Agreement contains customary representations, warranties, and covenants. General indemnification obligations survive for two years from the First Closing, subject to a $50,000 basket and a maximum liability cap of $3,000,000. The shares of Common Stock issued at the First Closing were issued in reliance upon the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended, and/or Rule 506 of Regulation D promulgated thereunder. The Seller has represented that it is an "accredited investor" acquiring the shares for investment purposes for its own account and not with a view toward public distribution. All such shares are issued as unregistered, non-certificated book-entry securities bearing appropriate restrictive legends. A full text copy of the Agreement is available at https://tinyurl.com/3jpzvrky About VigilAigent VigilAigent is redefining managed security with Ai-powered Virtual Aigents(TM) that combine human vigilance with the speed and accuracy of Agentic Ai to create a "security fabric" to modernize cyber defense. About Intrusion Intrusion Inc. is a cybersecurity company based in Plano, Texas, specializing in advanced threat intelligence. At the core of its capabilities is TraceCop, a proprietary database that catalogs the historical behavior, associations, and reputational risk of IPv4 and IPv6 addresses, domain names, and hostnames. Built on years of gathering global internet intelligence and supporting government entities, this data forms the backbone of Intrusion's commercial solutions. As of December 31, 2025, the Company had $10.4 million in total assets, $1.8 million in total current liabilities, $1.3 million in total noncurrent liabilities, and $7.3 million in total stockholders' equity. Dallas, Texas-based Whitley Penn LLP, the Company's auditor since 2009, issued a "going concern" qualification in its report dated March 25, 2026, attached to the Company's Annual Report for the fiscal year ended December 31, 2025, citing that the Company has suffered recurring losses from operations, has negative cash flows from operations, and has a reliance on equity and debt financing. These factors raise substantial doubt about the Company's ability to continue as a going concern. IWC JACKSONVILLE: Seeks Chapter 11 Bankruptcy in Florida -------------------------------------------------------- On July 2, 2026, IWC Jacksonville, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Middle District of Florida. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to 1-49 creditors. The Chapter 11 Plan and Disclosure Statement are due by December 29, 2026. About IWC Jacksonville, LLC IWC Jacksonville, LLC is a Jacksonville, Florida-based full-service restaurant operator. The company operates the Island Wings Company Grill & Bar location in Southside Jacksonville, which remained open through June 2026 while continuing to host community events. Historically, the company served as an area developer for the Island Wings brand, expanding to multiple Northeast Florida locations between 2022 and 2025 before experiencing recent closures and management changes. IWC Jacksonville, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-03002) on July 2, 2026. In its petition, the Debtor reports estimated assets of $500,000 to $1 million and estimated liabilities of $1 million to $10 million. Honorable Jason A. Burgess handles the case. The Debtor is represented by Richard R. Thames, Esq. of Thames Markey. J.A. CARRILLO: Hires Carney Badley Spellman as Special Counsel -------------------------------------------------------------- J.A. Carrillo Construction, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Washington at Seattle to employ Carney Badley Spellman, PS as special counsel. The Debtor needs the firm's legal assistance in connection with a case (Case No. 25-2-25936-6 SEA) filed in the Superior Court of the State of Washington, King County. The firm will be paid at these rates: CBS lawyers $500 to $825 per hour Paralegals $300 per hour Document clerks $195 per hour John Welch $615 hour In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Welch disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: John Welch 701 5th Ave Ste 3600, Seattle, WA 98104-7010 Telephone: (206) 607-4198 Email: welch@carneylaw.com About J.A. Carrillo Construction J.A. Carrillo Construction, LLC provides drywall services and metal-stud framing for multifamily projects, including apartment complexes, retirement homes, hotels, and mixed-use commercial buildings across the Puget Sound region in Washington. The Company works with general contractors, builders, and developers on new construction drywall and complete drywall service packages throughout the state. J.A. Carrillo Construction filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Wash. Case No. 25-13492) on December 10, 2025, listing up to $3,009,770 in total assets and up to $3,726,313 in total liabilities. The Debtor tapped Faye C. Rasch, Esq., at Wenokur Riordan PLLC as counsel and Duncan & Schuler CPA, PLLC as accountant. JASNIA REALTY: Court Extends Cash Collateral Access to Aug. 6 ------------------------------------------------------------- Jasnia Realty, LLC received another extension from the U.S. Bankruptcy Court for the District of Massachusetts to use cash collateral. The court issued a proceeding memorandum and order authorizing the Debtor to use cash collateral under the same term and condition through August 6. The court ordered the Debtor to file by August 4 a reconciled budget showing actual to projected income and expenses for the period ending July 31 as well as beginning and ending bank balances monthly, and a projected budget for August, September and October. The next hearing is scheduled for August 6. Jasnia owns two residential rental properties in Feeding Hills, Massachusetts: 438 Springfield Street (16 units) and 873 Springfield Street (28 units). Both properties are encumbered by first mortgages held by Freedom Credit Union in the approximate amount of $1 million each, and second mortgages held by Louis Cardaropoli, Trustee, in the approximate amount of $1.2 million, representing the same junior obligation secured by both properties. The rental income from the properties constitutes cash collateral, which the Debtor intends to use to pay its operating expenses, including repairs, maintenance, insurance, real estate taxes, payroll, and related costs essential to preserving the estate. As of the petition date, the Debtor's bank balance was $8,057. About Jasnia Realty LLC Jasnia Realty, LLC operates as a limited liability company focused on real estate investment and asset management. Jasnia Realty sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-30102) on February 16, 2026. The filing reflects estimated assets between $1 million and $10 million and estimated liabilities between $1 million and $10 million. The case is assigned to Honorable Bankruptcy Judge Elizabeth D. Katz. The Debtor is represented by Louis S. Robin, Esq., of Law Offices of Louis S. Robin. JAY'S PRIME: Gets Final OK to Use Cash Collateral Until Dec. 31 --------------------------------------------------------------- The U.S. Bankruptcy Court for the District of Maryland, Southern Division, entered a final order authorizing Jay's Prime Rentals, LLC to use cash collateral. Under the final order, the Debtor is authorized to use cash collateral through Dec. 31 in accordance with the budget to continue operating its rental property business. The Debtor must adhere to the approved budget and must not incur expenses exceeding budgeted amounts, except for necessary apartment advertising and maintenance. Any variance exceeding 15% of a budget line item requires approval from the secured lender for the affected property. The court granted adequate protection to the secured creditors -- Fay Servicing, BSI Financial Services, and Shellpoint Servicing -- by requiring the Debtor to continue making mortgage payments and paying insurance, property taxes, and other operating expenses for each property. The final order preserves the rights of both the Debtor and the secured lenders to seek additional or modified relief if circumstances change, and does not determine issues relating to adequate protection or prevent the secured lenders from requesting further protection in the future. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/t1SpA from PacerMonitor.com. About Jay's Prime Rentals LLC Jay's Prime Rentals, LLC, based in Clinton, Maryland, is a real estate holding company that owns and manages a portfolio of residential properties in Baltimore, Maryland, including assets on South Augusta Avenue, Ashburton Street, Claymont Avenue, and North Calhoun Street. The company leases these properties under master lease arrangements to a single counterparty, Premier Acquisition Services, LLC, which operates the units as multi-tenant housing and is responsible for subleasing and tenant management. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 26-13186) on March 25, 2026. In the petition signed by Â James J. Watkins, owner, the Debtor disclosed $848,036 in total assets and $1,114,554 in total liabilities. Judge Maria Ellena Chavez-Ruark oversees the case. Marc A. Ominsky, Esq., at the Law Offices of Marc A. Ominsky, LLC, represents the Debtor as bankruptcy counsel. JS&A FIRE: Seeks to Hire Demarco Mitchell PLLC as Counsel --------------------------------------------------------- JS&A Fire and Safety LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Demarco Mitchell, PLLC as counsel. The firm will provide these services: a. take all necessary action to protect and preserve the Estate, including the prosecution of actions on its behalf, the defense of any actions commenced against it, negotiations concerning all litigation in which it is involved, and objecting to claims; b. prepare on behalf of the Debtor all necessary motions, applications, answers, orders, reports, and papers in connection with the administration of the estate herein; c. formulate, negotiate, and propose a plan of reorganization; and d. perform all other necessary legal services in connection with these proceedings. The firm will be paid at these rates: Robert T. DeMarco $500 per hour Michael S. Mitchell $400 per hour Barbara Drake, Paralegal $150 per hour The firm will be paid a retainer in the amount of $15,000. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Robert T. DeMarco, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Robert T. DeMarco DeMarco Mitchell, PLLC 12770 Coit Road, Suite 850 Dallas, TX 75251 Tel: (972) 991-5591 Fax: (972) 346-6791 Email: robert@demarcomitchell.com About JS&A Fire and Safety LLC JS&A Control Systems is a systems integration company based in Dallas, Texas. The company provides design, sale, installation, and service for fire alarm, fire sprinkler and suppression, life safety, security, and intrusion alarm systems. Its offerings also include access control, parking and revenue control, EV charging stations, monitoring services, video surveillance and recording, emergency/mass notification systems, security reviews and assessments, and tests and inspections. JS&A Control Systems serves sectors including industrial, retail, commercial, education, government, healthcare, and hospitality. JS&A Fire and Safety LLC filed its voluntary petition for Chapter 11 protection (Bankr. N.D. TX., Case No. 26-42647) on June 17, 2026, listing $174,920 in assets and $1,593,679 in liabilities. James R. Stofer, president of JS&A Fire and Safety LLC, signed the petition. Judge Edward L Morris oversees the case. Robert T. DeMarco, Esq. at DEMARCO MITCHELL, PLLC serve as the Debtor's legal counsel. KASTER MOVING: Hearing Today on Bid to Use Cash Collateral ---------------------------------------------------------- The U.S. Bankruptcy Court for the District of Connecticut, New Haven Division, is set to hold a hearing today to consider extending Kaster Moving Co., LLC's authority to use cash collateral. The Debtor is currently authorized to use cash collateral from June 17 through July 10 under the court's June 25 interim order. Under the interim order, the Debtor is allowed to pay its expenses with cash collateral in accordance with the court-approved operating budget, The interim order granted adequate protection to Pinnacle Bank and various merchant cash advance lenders trough replacement liens on the Debtor's post-petition assets. These replacement liens are automatically perfected but do not improve the lenders' pre-petition secured positions or extend to Chapter 5 avoidance actions. The MCA lenders include Fiji Funding, Forward Financing, Fund-Ex Solutions Group, LendWise, Maison Capital Group, Nitro Advance, Overton Funding, Vernon Capital, and Wellen Capital. The interim order does not determine the validity, priority, extent, or enforceability of any lender's asserted liens or security interests. All parties retain the right to challenge or defend those claims. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/SxGx7 from PacerMonitor.com. About Kaster Moving Co LLC Kaster Moving Co LLC, operating as Kaster Moving & Storage, is a moving and storage company based in Stamford, Connecticut. Founded in 1977, the company provides residential, commercial, local, long-distance, specialized, and storage-related moving services, including trade show shipping and white-glove moving. Kaster Moving & Storage serves homeowners and businesses in the Stamford region, Fairfield County, and nearby New York communities. Kaster Moving Co filed its voluntary petition for Chapter 11 protection (Bankr. D.Conn. Case No. 26-30549) on June 17, 2026, listing $1 million to $10 million in assets and $1 million to $10 million in liabilities. Gideon Asemnor, president of Kaster Moving Co., LLC, signed the petition. Judge Ann M Nevins oversees the case. Matthew K. Beatman, Esq., Zeisler & Zeisler, P.C. serve as the Debtor's legal counsel. KING'S ACADEMY: Unsecured Creditors to Split $8,100 over 3 Years ---------------------------------------------------------------- The King's Academy of West Orlando, Inc., filed with the U.S. Bankruptcy Court for the Middle District of Florida a First Amended Plan of Reorganization dated June 25, 2026. The Debtor is a Florida not-for-profit corporation created by Articles of Incorporation filed with the Florida Secretary of State on or around June 20, 2018. The Debtor operates a school providing educational and developmental programs for infants and children, including voluntary prekindergarten and afterschool care, grounded in Christian values and focused on nurturing cognitive, physical, social, emotional, and spiritual development. The Debtor's principal place of business is located at 1302 Edgeway Drive, Winter Garden, Florida, 34787 ("Premises"), which the Debtor leases from West Orlando Christian Center of God and Christ Inc (an insider). The Debtor's projected disposable income is $8,094.00. This Plan provides for 2 classes of secured claims; and 1 class of unsecured claims. Class 3 consists of the Allowed Unsecured Claims against the Debtor. This Class is Impaired. * Consensual Plan Treatment: The liquidation value or amount that unsecured creditors would receive in a hypothetical chapter 7 case is approximately $0.00. Accordingly, the Debtor proposes to pay unsecured creditors a pro rata portion of $8,100.00. The Reorganized Debtor shall pay said amount in equal quarterly payments of $675.00 and shall be disbursed pro rata to the holders of Allowed General Unsecured Claims. Payments shall commence on the fifteenth day of the month, on the first month that begins more than fourteen days after the Effective Date and shall continue quarterly for eleven additional quarters. Pursuant to Section 1191 of the Bankruptcy Code, the value to be distributed to unsecured creditors is greater than the Debtor's projected disposable income to be received in the 3-year period beginning on the date that the first payment is due under the plan. * Nonconsensual Plan Treatment: The liquidation value or amount that unsecured creditors would receive in a hypothetical chapter 7 case is approximately $0.00. Accordingly, Debtor proposes to pay unsecured creditors a pro rata portion of its projected Disposable Income, $8,094.00. If the Debtor remains in possession, plan payments shall include the Subchapter V Trustee's administrative fee which will be billed hourly at the Subchapter V Trustee's then current allowable blended rate. Plan Payments shall commence on the first month following the Effective Date, and shall continue quarterly for eleven additional quarters. The quarterly payment for the first four quarters shall be $979.50. The quarterly payments for the second four quarters shall be $679.50. The quarterly payments for the final four quarters shall be $364.50. The Plan contemplates that the Reorganized Debtor will continue to operate the Debtor's business. Except as explicitly set forth in this Plan, all cash in excess of operating expenses generated from operation until the Effective Date will be used for Plan Payments or Plan implementation, cash on hand as of Confirmation shall be available for Administrative Expenses. A full-text copy of the First Amended Plan dated June 25, 2026 is available at https://urlcurt.com/u?l=6mciX4 from PacerMonitor.com at no charge. Counsel for the Debtor: Jeffrey S. Ainsworth, Esq. Cole B. Branson, Esq. Branson Ainsworth, PLLC 1501 East Concord Street Orlando, Florida 32803 Telephone: (407) 894-6834 Facsimile: (407) 894-8559 Email: jeff@bransonlaw.com Email: Cole@bransonlaw.com About The King's Academy of West Orlando Inc. The King's Academy of West Orlando, Inc., a Florida not-for-profit corporation, operates a school providing educational and developmental programs for infants and children. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-00557) on January 28, 2026, listing assets of up to $50,000 and liabilities of $500,001 to $1 million. L. Todd Budgen, Esq., a practicing attorney in Longwood, Fla., serves as Subchapter V trustee. Judge Grace E. Robson oversees the case. Jeffrey Ainsworth, at Bransonlaw, PLLC, represents the Debtor as bankruptcy counsel. LENA BRANDS: Seeks to Hire DASG Tax & Business as Accountant ------------------------------------------------------------ Lena Brands LLC seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ DASG, A Tax & Business Management Group as accountant. The firm will provide these services: a. overhaul and restructuring the Debtors' accounting infrastructure, including evaluating and optimizing existing bookkeeping systems, financial reporting processes, and internal controls to ensure accuracy, compliance, and operational efficiency during the pendency of these chapter 11 cases; b. providing cash flow planning, budgeting, and financial forecasting to enhance financial visibility and support informed decision-making as part of the Debtors' accounting infrastructure overhaul; c. preparing the Debtors' federal and state income tax returns, such returns to be prepared by DASG's tax professionals; for the avoidance of doubt, DASG's engagement does not include tax planning, tax strategy, or other tax advisory services, and does not include sales and use tax returns or payroll tax returns; d. assisting in the preparation of financial reports, schedules, and analyses as may be required by the Court, the United States Trustee, or other parties in interest in connection with the administration of these chapter 11 cases; and e. performing other accounting and bookkeeping services for the Debtors in connection with the prosecution of these chapter 11 cases, including assisting the Debtors' counsel with financial data and analyses as may be needed in connection with motions, applications, or other proceedings before the Court. The firm will be paid at the rate of $300 per hour. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Tyler J. Stoffel disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Tyler J. Stoffel DASG, A Tax & Business Management Group 8150 N Centray Expy Ste 1675 Dallas, TX 75206 Telephone: (214) 945-2488 About Lena Brands Lena Brands, LLC, doing business as Coco's Bakery, Inc. and Shari's, operates family-style restaurant and bakery brands with roots dating to 1948 for Coco's in Corona Del Mar, California, and 1978 for Shari's in Hermiston, Oregon. The company's restaurant concepts offer American and Northwest comfort food. Its brands support dine-in service and, where available, curbside pickup, delivery, and select outdoor dining ordering options. Lena Brands and affiliated debtors, Lena Holdings, LLC and Lena Real Estate Holdings, LLC, sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 26-10792) on May 15, 2026. In its petition, Lena Brands reported total assets of $1 million to $10 million and total liabilities of $10 million to $50 million. The petition was signed by Samuel Nicholas Borgese as sole member and owner. Judge Thomas M. Horan oversees the cases. The Debtors' counsel is Mette H. Kurth, Esq., at Pierson Ferdinand, LLP. LEXORA INC: Hearing Today to Extend Post-Petition Factoring Deal ---------------------------------------------------------------- U.S. Bankruptcy Court for the Southern District of New Dork is set to hold a hearing today to consider extending Lexora Inc.'s post-petition factoring arrangement with SouthStar Financial, LLC. The court previously entered a seventh interim order authorizing the Debtor to sell up to $150,000 in accounts receivable to SouthStar through July 9. The receivables sold under the post-petition factoring arrangement become the sole property of SouthStar and are transferred free and clear of liens and claims pursuant to Section 363(f) of the Bankruptcy Code. Under the seventh interim order, the court granted SouthStar first-priority post-petition liens on and security interests in substantially all pre-petition and post-petition assets of the Debtor to secure the Debtor's obligations under the factoring arrangement. These assets exclude certain carveouts such as U.S. trustee fees, limited Chapter 7 trustee fees, avoidance actions, and assets subject to purchase money security interests. The seventh interim order further granted SouthStar superpriority administrative expense status under Section 364(c)(1) of the Bankruptcy Code, giving its claims priority over most other administrative expenses. Additionally, the seventh interim order granted replacement liens to SouthStar and two other secured creditors -- Dime Community Bank and Libertas Funding, LLC -- to protect against any diminution in the value of their collateral. Dime will also receive monthly payments of $17,280 as further protection. Events of default under the order include the dismissal or conversion of the Debtor's Chapter 11 case, confirmation of a bankruptcy plan, uncured defaults, and cessation of operations. The order is available at https://shorturl.at/imE7H About Lexora Inc. Lexora Inc., founded in 2009 and headquartered in New York, sells bathroom and kitchen products through online and showroom channels. It offers vanities, bathtubs, faucets, mirrors, lighting, and related accessories, and it also works with factories in Asia to develop and source its product lines. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-10751) on April 6, 2026, with $50,000 to $100,000 in assets and $1 million to $10 million in liabilities. Andrey Bogan, in his capacity as president, signed the petition. Robert L. Rattet, Esq., at avidoff Hutcher & Citron, LLP represents the Debtor as legal counsel. LUGINBILL CONSTRUCTION: Case Summary & 18 Unsecured Creditors ------------------------------------------------------------- Debtor: Luginbill Construction, LLC 9826 State Route 49 Rockford, OH 45882 Business Description: Luginbill Construction, LLC is a Rockford, Ohio-based general contractor that provides residential, commercial and agricultural construction services, including new- home construction, renovations, garages, shops, pole barns, roofing, concrete work, siding, decks and porches, while also offering dumpster rentals and related glass, window and door installation services through through Van Wert Glass and Lakeview Glass. Chapter 11 Petition Date: July 2, 2026 Court: United States Bankruptcy Court Northern District of Ohio Case No.: 26-31566 Judge: Hon. John P. Gustafson Debtor's Counsel: Steven L. Diller, Esq. DILLER AND RICE, LLC 124 East Main Street Van Wert, OH 45891 Tel: 419-238-5025 Email: Steven@drlawllc.com Kim@drlawllc.com Eric@drlawllc.com Estimated Assets: $100,000 to $500,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Lucas Luginbill as president. A full-text copy of the petition, which includes a list of the Debtor's 18 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/5LHDEJY/Luginbill_Construction_LLC__ohnbke-26-31566__0001.0.pdf?mcid=tGE4TAMA LUGINBILL CONSTRUCTION: Seeks Chapter 11 Bankruptcy in Ohio ----------------------------------------------------------- On July 2, 2026, Luginbill Construction, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Ohio. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to 1-49 creditors. The Summary of Assets and Liabilities is due by July 16, 2026, and the Chapter 11 Small Business Subchapter V Plan is due by September 30, 2026. About Luginbill Construction, LLC Luginbill Construction, LLC is a Rockford, Ohio-based general contractor specializing in residential, commercial, and agricultural construction. The company maintains its principal place of business in Van Wert, Ohio, and continued providing general contracting services across those sectors through early 2026. Luginbill Construction, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-31566) on July 2, 2026. In its petition, the Debtor reports estimated assets of $100,000 to $500,000 and estimated liabilities of $1 million to $10 million. Honorable John P. Gustafson handles the case. The Debtor is represented by Steven L. Diller, Esq. MICHAEL AARON SHABSELS: July 9 Deadline for Panel Questionnaires ---------------------------------------------------------------- The United States Trustee is soliciting members for committee of unsecured creditors in the bankruptcy case of Michael Aaron Shabsels. If a party wishes to be considered for membership on any official committee that is appointed, it must complete a questionnaire available at https://tinyurl.com/4bhwee67 and return by email it to Tina L. Oppelt -- Tina.L.Oppelt@usdoj.gov -- at the Office of the United States Trustee so that it is received no later than 5:00 p.m., on Thursday, July 9, 2026. About Michael Aaron Shabsels Michael Aaron Shabsels filed a petition under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 26-16529) on June 4, 2026. Donald Clarke, Esq. represented the Debtor. MVP REALTY: Case Summary & 18 Unsecured Creditors ------------------------------------------------- Debtor: MVP Realty Holdings Inc. 525 Myrtle Avenue Suite C-1 Brooklyn NY 11205 Business Description: MVP Realty Holdings Inc. is classified under NAICS 5313 for activities related to real estate. Chapter 11 Petition Date: June 30, 2026 Court: United States Bankruptcy Court Eastern District of New York Case No.: 26-43192 Judge: Hon. Elizabeth S. Stong Debtor's Counsel: Joshua R. Bronstein, Esq. JOSHUA R. BRONSTEIN & ASSOCIATES, PLLC 114 Soundview Drive Port Washington, NY 11050 Tel: 516-698-0202 Email: jbrons5@yahoo.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Eddie Doran as president. A copy of the Debtor's list of its 18 unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/WFTJRNA/MVP_REALTY_HOLDINGS_INC__nyebke-26-43192__0009.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/B6POD6I/MVP_REALTY_HOLDINGS_INC__nyebke-26-43192__0001.0.pdf?mcid=tGE4TAMA NMR ENTERPRISES: Plan Exclusivity Period Extended to Oct. 5 ----------------------------------------------------------- Judge Christine M. Gravelle of the U.S. Bankruptcy Court for the District of New Jersey extended NMR Enterprises NJ LLC and Online Stores PA LLC's exclusive periods to file a plan of reorganization and obtain acceptance thereof to Oct. 5 and Dec. 2, 2026, respectively. In a court filing, the Debtors submit that sufficient "cause" exists to extend the Exclusivity Periods as requested herein: * Necessity of Sufficient Time to Formulate a Plan. The proposed sale of the Debtors' assets will affect substantively a potential plan of reorganization. There will be insufficient time before the current plan filing exclusivity period expires to finalize a Chapter 11 plan. Therefore, additional time is necessary. * Good Faith Progress Towards Reorganization. In the short period that the Debtors have been the subject of these chapter 11 proceedings, the Debtors have made significant progress including, but not limited to, filing the sale motion, rejecting unneeded executory contracts and implementing extensive cost cutting measures. * Post-Petition Obligations. The Debtors are current with their reporting obligations and post-petition administrative expenses. * Impact on Creditors. The Debtors are not seeking an extension of the Exclusivity Periods to pressure creditors to submit to any demands. * Unresolved Contingencies. To the best of the Debtors' knowledge, there are no significant unresolved contingencies that would substantially disrupt the Debtors' ability to satisfy their obligations to file a plan within the extended Exclusivity Periods. Counsel to the Debtors: Ilana Volkov, Esq. Pearl Shah Dalsania, Esq. Cynthia L. Botello, Esq. MCGRAIL & BENSINGER LLP 888-C 8th Avenue #107 New York, NY 10019 Telephone: (201) 931-6910 E-mail: ivolkov@mcgrailbensinger.com pshah@mcgrailbensinger.com cbotello@mcgrailbensinger.com About NMR Enterprises NMR Enterprises NJ, LLC and Online Stores PA, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Lead Case No. 26-11349) on Feb. 5, 2026. At the time of the filing, NMR reported assets of between $100,001 and $500,000 and liabilities of between $1 million and $10 million while Online Stores reported assets of between $1 million and $10 million and liabilities of between $10 million and $50 million. The Debtors tapped Ilana Volkov, Esq., at McGrail & Bensinger, LLP, as legal counsel and CFGI, LLC as financial advisor. NOISE ENTERTAINMENT: Gets Final OK to Use Cash Collateral --------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Georgia, Atlanta Division, entered a final order authorizing Noise Entertainment & Media, LLC to use cash collateral. Under the final order, the Debtor is authorized to use cash collateral through confirmation of its Chapter 11 plan, or until the bankruptcy case is converted or dismissed, whichever occurs first. Cash collateral must be used in accordance with the approved budget, subject to a variance of up to 15%, with unused budget amounts permitted to be carried forward. The Debtor is also authorized to make actual payments to utilities, taxing authorities, and insurance providers as required. The potential secured creditors that may assert liens on the Debtor's assets are Celtic Bank Corporation and the U.S. Small Business Administration. As adequate protection, both creditors will be granted replacement liens on the Debtor's post-petition assets to the extent that their collateral declines in value as a result of the Debtor's use of cash collateral. The replacement liens maintain the same validity, extent, and priority as the pre-petition liens but exclude avoidance actions under specified provisions of the Bankruptcy Code. The order preserves the rights of both the Debtor and the secured creditors to challenge the validity, nature, extent, or enforceability of the asserted liens and claims in future proceedings. It became effective immediately upon entry. The Debtor is also required under the final order to make budgeted deposits into the Subchapter V Trustee's IOLTA account for potential trustee compensation. The order is available at http://bankrupt.com/misc/NoiseEntertainment_FCCOrder27.pdf About Noise Entertainment & Media LLC Noise Entertainment & Media, LLC is a Georgia-based motion picture and video production company that owns real property in Atlanta. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-54573) on April 6, 2026, listing up to $10 million in both assets and liabilities. Rasool D. Malik, II, owner and president, signed the petition. Judge Paul W. Bonapfel oversees the case. Brian S. Limbocker, Esq., at Limbocker Law Firm, represents the Debtor as legal counsel. NORTHERN OIL: Fitch Affirms 'BB-' LongTerm IDR, Outlook Stable -------------------------------------------------------------- Fitch Ratings has affirmed Northern Oil and Gas, Inc.'s (NOG) Issuer Default Rating (IDR) at 'BB-'. The Rating Outlook is Stable. Fitch has also affirmed NOG's reserve-based lending (RBL) credit facility at 'BB+' with a Recovery Rating of 'RR1' and the senior unsecured notes and convertible notes at 'BB-'/'RR4'. NOG's 'BB-' ratings and Stable Outlook reflect Fitch's expectation of continued credit-friendly M&A activity that is expected to enhance the company's scale and diversification. The ratings also reflect its expectation of continued positive FCF generation, added cash flow security from the company's strong hedging program and mid-cycle leverage at around 2.0x. Key Rating Drivers Leveraging but Diversifying, Accretive Acquisitions: Fitch views NOG's recently announced acquisitions positively due to the credit-conscious funding mix, incremental size and diversification into new basins. The acquisitions have been conservatively funded through a combination of common equity, cash on hand and debt with modest borrowings under reserve-based lending (RBL). NOG issued about $283 million in equity to partially reduce debt after the recent acquisitions with Infinity Natural Resources (B/Stable) and Parallax (not rated). Fitch believes acquisitions will continue to be a part of the company's growth strategy and expects management will continue to fund transactions in a credit-neutral manner and target post-close deleveraging. The credit impact of larger projects will be evaluated based on the expected future funding mix. Favorable Capital Deployment Flexibility: Fitch believes that NOG's flexibility in well participation and capital expenditure (capex) supports economically driven decisions and improves overall returns. The company retains the ability to decline participation in uneconomic or lower-return wells, even in some cases within a multi-well, multi-reservoir development, to help optimize returns. Lower Costs, Adequate Reserve Life: As a non-operator, NOG does not have rig, drilling or midstream contracts and has no personnel at the field level, which limits corporate operational and financial obligations and brings lower per-unit general and administrative costs. While G&A costs are lower, the company still incurs opex and capex based on its working interest. NOG has historically maintained about six years of proved, developed and producing reserve life, which Fitch expects to increase over time because of NOG's acquisitive nature. Joint Venture Acquisitions: Fitch views NOG's recent joint venture acquisitions positively because they provide greater involvement with proven operators and a line of sight into future organic development opportunities. Examples include the MPDC, Forge, Novo, Point and XCL joint ventures with proven operators, which accounted for approximately 25% of 2025 production. A cooperation and joint development agreement around areas of mutual interest governs these partnerships, ensuring interests are aligned. Relationships Provide Capital Visibility: NOG's close relationship with its operators and the roughly one-year lead time for new-well development evaluation, investment decision and budget provide visibility into future capital needs. In conjunction with NOG's hedging policy, these help reduce overall liquidity risk despite the company's inability to control well timing and completion. 18-Month Rolling Hedge Program: Fitch views NOG's hedging positively as it provides FCF certainty, which supports repayment of debt as well as the base dividend. The company has historically maintained a strong hedge book and targets hedging 65% of production on a rolling 18-month basis. It has about 57% of oil production hedged at an average price of $68 per barrel for the remainder of 2026 and around 63% of gas production hedged at an average price of $3.75 per million British Thermal Units (MMBtu). Positive FCF; 2.0x Leverage: Fitch assumes mid-cycle EBITDA leverage remains around 2.0x based on its gradually declining oil and gas price assumptions toward $57 oil and $2.75 Henry Hub. Fitch believes post-dividend FCF of roughly over $300 million in 2026 and about $100 million in 2027 is possible, assuming West Texas Intermediate (WTI) oil prices of $80/bbl and $60/bbl, respectively. Its assumptions include gradually increasing shareholder distributions as a use of excess cash. Peer Analysis NOG is a leading non-operator exploration and production (E&P) company focused in the Permian, Williston, Appalachia and Uinta Basins with 1Q26 production of 148,000 barrels of oil equivalent per day (Mboepd). NOG's production size is larger than that of offshore producer Talos Energy Inc. (Talos Energy; B/Stable), with production of 93.3 mboepd. However, it is smaller than Crescent Energy Company (Crescent Energy; BB-/Positive), with approximately 400 mboepd of pro forma production expected following its announced Vital Energy acquisition, and SM Energy Company (SM Energy; BB+/Stable), with 371 mboepd production in 1Q26. In its cost structure at 1Q26, NOG's Fitch-calculated levered unhedged cash netback of $23.2 per barrel of oil equivalent (boe) (57% margin) is competitive with Crescent Energy's $20/boe (52% margin), SM Energy's $23.6/boe (53% margin), and Talos Energy's $33.6/boe (57% margin), particularly on a margin basis. Fitch’s Key Rating-Case Assumptions WTI oil price of $80/bbl in 2026, $60/bbl in 2027, and $57/bbl thereafter; Henry Hub natural gas price of $3.50/mcf in 2026, $3.25/mcf in 2027, $3.00/mcf in 2028 and $2.75/mcf thereafter; Marginal acquisitions of $25 million annually as a cash use; Assumed NOG's high-end guidance for 2026F results and low single-digit production growth thereafter; Capex assumptions flat at $900 million a year; Prioritization of forecast FCF toward repayment of the RBL facility with a drawdown in the outer years; Gradual increase in dividends going forward. Corporate Rating Tool Inputs and Scores Fitch scored the issuer as follows, using its Corporate Rating Tool (CRT) to produce the Standalone Credit Profile (SCP): Business and financial profile factors (assessment, relative importance): management ('bb+', Lower), sector characteristics ('bb+', Moderate), market and competitive positioning ('bb-', Higher), diversification and asset quality ('bb+', Moderate), company operational characteristics ('b+', Higher), profitability ('bb', Moderate), financial structure ('bbb+', Lower), and financial flexibility ('bbb-', Moderate). The quantitative financial subfactors are based on custom CRT financial period parameters: 10% weight for the historical year 2025, 10% for the forecast year 2026, 10% for the forecast year 2027, 15% for the forecast year 2028 and 55% for the forecast year 2029. The governance assessment of 'good' has no impact. The operating environment assessment of 'aa-' has no impact. The SCP is 'bb-'. To derive the Long-Term IDR: Fitch made no adjustments to the SCP, resulting in an IDR of 'BB-'. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - Inability to generate FCF and reduce outstanding gross debt that leads to mid-cycle EBITDA leverage sustained above 3.0x; - Total production sustained below 100 mboepd and erosion of the reserve base; - Limited financial flexibility and/or an inability to maintain access to capital markets. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Consistent FCF generation with proceeds used to reduce gross debt which leads to mid-cycle EBITDA leverage sustained below 2.0x; - Consistent track record of reserve replacement and total production sustained above 175mboepd. Liquidity and Debt Structure Fitch does not see material near-term liquidity needs, given NOG's operational and liquidity flexibility. NOG has $1.1 billion availability under its $1.8 billion committed revolving credit facility which matures Nov. 5, 2030. NOG's forecast FCF generation supports repayment of the RBL facility. The RBL facility is subject to a semi-annual borrowing base redetermination in addition to financial covenants, including a maximum total net leverage ratio of below 3.50x and a minimum current ratio of at least 1.0x. NOG's maturity schedule remains light until the 2029 convertible notes. Issuer Profile Northern Oil and Gas, Inc. is a leading non-operator E&P company in the U.S. focused in the Williston, Permian and Appalachia Basins. MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS Fitch's latest quarterly Global Corporates Sector Forecasts Monitor data file which aggregates key data points used in its credit analysis. Fitch's macroeconomic forecasts, commodity price assumptions, default rate forecasts, sector key performance indicators and sector-level forecasts are among the data items included. Climate Vulnerability Signals The Climate.VS for NOG is 52 for 2035, in line with its oil and gas sector peers. Key transition risks arise from potential reductions in demand driven by policies designed to reduce the use of oil in the global economy and, in the shorter term, from policies designed to limit greenhouse gas emissions from the production of oil and gas. Like many exploration and production companies, NOG has set a near-term goal of a 75% reduction in Scope 1 and Scope 2 net emissions by 2025 from the 2022 baseline year which NOG claims to have achieved. NOG does not directly produce hydrocarbons due to the non-operator status. NOG reveals scope 1, 2 and 3 emissions publicly. NOG's metrics should allow some flexibility to deal with changes in demand and/or regulation. NOG's assets are in the U.S., where local regulation will be an important determinant of risk. These risks do not have a material influence on the rating at the moment, given the very long-term time scale over which the transition may take place, uncertainty regarding the extent and nature of the changes, and markets' and companies' reactions to them. ESG Considerations The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Recovery Prior ----------- ------ -------- ----- Northern Oil and Gas, Inc. LT IDR BB- Affirmed BB- senior secured LT BB+ Affirmed RR1 BB+ senior unsecured LT BB- A ffirmed RR4 BB- OLENOX INDUSTRIES: FY25 Loss Widens to $18.8M as Revenue Drops 41% ------------------------------------------------------------------ Olenox Industries, Inc. has filed its Annual Report on Form 10-K with the U.S. Securities and Exchange Commission for the fiscal year ended December 31, 2025, reporting total revenue of $2,952,578 for the year ended December 31, 2025, compared to $4,976,618 for the year ended December 31, 2024, a decrease of 41%. The revenue decrease is primarily due to the Company restructuring in 2025. The Company's net loss for the year ended December 31, 2025 was $18,820,190, compared to a net loss of $16,979,682 for the year ended December 31, 2024. Boca Raton, Florida-based RBSM LLP, the Company's auditor since 2026, issued a going concern qualification in its report dated June 30, 2026, citing that the Company has suffered recurring losses from operations and had an accumulated deficit that raises substantial doubt about its ability to continue as a going concern. Liquidity and Capital Resources As of December 31, 2025, the Company had $427,866 in cash and cash equivalents, compared to $375,873 as of December 31, 2024. As of December 31, 2025, the Company's stockholders' equity was $7,589,746, compared to a stockholders' deficit of $(12,460,308) as of December 31, 2024. Net cash used in operating activities was $7,836,959 for the year ended December 31, 2025, compared to $10,898,755 for the year ended December 31, 2024. The Company has historically financed its operations from revenue generated from operations and sales of equity and debt financing. The Company will seek to obtain debt or additional equity financing to meet any cash shortfalls in both the public company or its subsidiaries. The type, timing and terms of any financing the Company may select will depend on, among other things, its cash needs, the availability of other financing sources and prevailing conditions in the financial markets. However, there can be no assurance that the Company will be able to secure additional funds if needed and that, if such funds are available, the terms or conditions would be acceptable. Any equity financing would be dilutive to stockholders. If the Company incurs debt, it will likely be subject to restrictive covenants that significantly limit operating flexibility and require encumbering of assets. Going Concern The Company has negative operating cash flows, which has raised substantial doubt about its ability to continue as a going concern. If the Company is not successful in its efforts to increase revenue, it will experience a shortfall in cash, and will be forced to reduce operating expenses, among other steps, all of which would have a material adverse effect on operations going forward. If the Company fails to raise sufficient funds and continues to incur losses, its ability to fund operations, take advantage of strategic opportunities, or otherwise respond to competitive pressures will be significantly limited and the Company will need to significantly curtail or cease its operations. The Company's consolidated financial statements do not include any adjustments that might be necessary should it be unable to continue as a going concern. A full text copy of the Company's Form 10-K is available at https://tinyurl.com/3pt5ppns About Olenox Industries Olenox Industries Inc., previously known as Safe & Green Holdings Corp., is a vertically integrated energy company operating across multiple business lines, including oil and gas, energy services, and energy technologies. The Company is focused on acquiring, optimizing, and scaling energy-related infrastructure and operating assets across key U.S. markets. As of December 31, 2025, the Company had $36,035,707 million in total assets, $28,445,961 million in total liabilities, and $7,589,746 million in total stockholders' equity. PACIFICA OF THE VALLEY: Case Summary & 30 Unsecured Creditors ------------------------------------------------------------- Debtor: Pacifica of the Valley Corporation d/b/a Pacifica Hospital of the Valley 9449 San Fernando Road Sun Valley CA 91352 Business Description: Pacifica of the Valley, doing business as Pacifica Hospital of the Valley, operates a 231-bed acute care hospital located in Sun Valley, California. The hospital provides inpatient, outpatient, 24-hour emergency, acute care, surgical, rehabilitation, subacute, behavioral health, diagnostic imaging, laboratory, and pharmacy services. It serves adults in the San Fernando Valley and operates a behavioral health urgent care clinic in Sylmar that provides crisis intervention, stabilization, case management, and urgent mental health care. Chapter 11 Petition Date: July 4, 2026 Court: United States Bankruptcy Court District of Delaware Case No.: 26-11060 Debtor's Counsel: Laura Davis Jones, Esq. PACHULSKI STANG ZIEHL & JONES LLP 919 North Market Street 17th Floor Wilmington, DE 19801 Tel: 302-778-6401 E-mail: ljones@pszjlaw.com Estimated Assets: $50 million to $100 million Estimated Liabilities: $100 million to $500 million The petition was signed by Precious Mayes as CEO and president. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/ZC7VZFI/Pacifica_of_the_Valley_Corporation__debke-26-11060__0001.0.pdf?mcid=tGE4TAMA Entity Nature of Claim Claim Amount 1. Internal Revenue Service Tax $45,448,272 Centralized Insolvency Operation PO Box 7346 Philadelphia, PA 19101-7346 2. Axios Capital Solutions LLC Main Street Loan $44,260,620 360 S. Garfield Street, 6th Floor Denver, Colorado 80209 Contact: Michael Milstein and Lauren Thompson Tel: 330-333-9810 Email: michael@fostergraham.com and lthompson@fostergraham.com 3. Health Care Access Compliance $3,323,652 And Information 2020 West El Camino Avenue, Suite 1000 Sacramento, CA 95833 Tel: (916) 326-3244 4. Reliq Capital Partners Landlord $9,000,000 825 S. Barrington Avenue Los Angeles, CA 90049 Contact: Howard Levine Tel: (310) 927-7400 Email: howard@reliqcp.com 5. Employment Development Department Tax $7,281,783 800 Capital Mall Sacramento, CA 95814 6. Dept of Water & Power Utility $5,782,380 PO Box 30808 Los Angeles, CA 90030-0808 Tel: (888) 922-4467 7. Emergency Medical COVID Staffing $4,650,000 Services Authority 11120 International Drive 2nd Floor Rancho Cordova, CA 95670 8. Larry Tablante PAGA $3,275,400 c/o Diversity Law Group, PC 515 S. Figueroa Street, Suite 1250 Los Angeles, CA 90071 Contact: Attorney for L. Tablante Tel: 213-488-6555 9. Office of Finance City Of L.A. Tax $2,773,891 200 North Main Street Los Angeles, CA 90012 Tel: (213) 427-1871 10. Franchise Tax Board Franchise Tax $2,457,311 California Department of Tax and Fee Administration Account Information Group, MIC:29, P.O. Box 942879 Sacramento, CA 94279-0029 11. M G Industries Matheson Gas $2,167,076 909 Lake Carolyn Parkway, Suite 1100 Irving, TX 75039 Tel: (800) 284-0481 12. McKesson Medical-Surgical, Inc Medical Supplies/ $1,886,636 9954 Mayland Dr. Suite 4000 Drugs Henrico, VA 23233 Contact: Unknown Tel: (800) 453-5180 13. Sun Valley Emergency ER Group $1,699,740 Physicians, PC PO Box 740666 Atlanta, GA 30374-0666 Tel: (770) 874-6802 14. Allied Benefit Systems, LLC Employee Health $1,654,133 200 West Adams Street Insurance Suite 500 Chicago, IL 60606 Tel: (312) 906-8080 15. Hill Risk Services LLC Insurance Broker $1,536,330 3518 Glen Ave. Carlsbad, CA 92010 16. Nelson Hardiman LLP Legal Services $1,341,727 11835 W. Olympic Blvd., Ste 900 Los Angeles, CA 90064 Tel: (310) 203-2800 17. Leech Tishman Legal Services $1,245,352 525 William Penn Place Floor 28 Pittsburgh, PA 15219 Tel: (412) 261-1600 18. Healthnow Administrative Services Benefits $1,106,904 512 Township Line Road-One Administrator Blue Bell, PA 19422 Contact: Ann Joo Kim, President Tel: (412) 544-6098 Email: annjoo.kim@hnas.com 19. Premier Access Insurance Company Employee Health $921,287 10 Hudson Yards Insurance New York, NY 10001 Tel: (855) 695-4331 20. Sierra Health Group LLC Billing $921,160 440 Franklin Street Suite 300 Bloomfield, NJ 07003 Tel: (201) 514-2984 21. U.S. Food Service, Inc. Food Service $908,147 Attn: US Foods Lockbox 50631 2706 Media Center Dr. Los Angeles, CA 90065-1733 Contact: Tim Johnson, Chief Legal Officer Tel: (800) 882-1739 22. Vicki Burris Personal Injury $891,720 c/o Drake Law Group 19935 Ventura Blvd. Third Floor Woodland Hills, CA 91364 Tel: (888) 315 -5721 23. Tiger Valley Medical Group Inc. Physician Group $840,000 16655 La Maida Street Encino, CA 91436 Tel: (818) 550-0900 24. SEIU United Healthcare Workers-West Union Dues $752,330 PO Box 45218 San Francisco, CA 94145 Tel: (510) 869-2282 25. Los Angeles County Tax Collector Tax $681,772 PO Box 54027 Los Angeles, CA 90054-0018 Tel: (213) 974-2111 26. Edmond Melikterminas Physician $604,200 1312 Cleveland Road Glendale, CA 91202 Tel: (818) 569-7159 27. Huron Managed Services, LLC Consulting Group $576,885 550 W. Van Buren Street, Suite 1700 Chicago, IL 60607 Tel: (312) 833-4153 28. Alliance Pharmacy Inc Pharmacy $564,509 1585 West Broadway Suite B Anaheim, CA 92802 Tel: (657) 200-8054 29. Department of Health Care Services Government $560,000 P.O. Box 997413, MS 0000 Sacramento, CA 95899-7413 Tel: (510) 873-6328 30. Addis Medical Group Physician Group $555,000 4712 Admiralty Way, Suite 579 Marina Del Rey, CA 90292 PATRICK INDUSTRIES: Fitch Puts 'BB' LongTerm IDR on Watch Positive ------------------------------------------------------------------ Fitch Ratings has placed Patrick Industries, Inc.'s Long-Term Issuer Default Rating (IDR) on Rating Watch Positive (RWP). Fitch has also placed Patrick's senior unsecured notes, including its convertibles, on RWP. Fitch currently rates Patrick Industries at 'BB' and the senior unsecured notes at 'BB' with a Recovery Rating of 'RR4'. The RWP follows the announcement of Patrick's plan to merge with LCI Industries, which would create a larger, more diversified component solutions provider for the outdoor enthusiast, housing and transportation end markets. Fitch expects that the combined entity's EBITDA leverage will be in the low-2.0x range after realizing the $150 million annual, run-rate cost-synergies within three years of closing. Additionally, Fitch believes that the company's end markets have passed the cyclical bottom, and Patrick's customers will increase production in 2027, which should enable it to grow revenues while generating mid-single-digit free cash flow (FCF) margins. Fitch expects to resolve the RWP around the transaction close, which is anticipated in 1H27. Consequently, resolution of the RWP could exceed six months. Key Rating Drivers LCI Industries Merger: The merger will be an all-stock transaction, and current Patrick shareholders will own 52% of the combined business, with current LCI shareholders owning the remaining 48%. Andy Nemeth, Patrick's CEO, will be CEO of the combined company, while the board of directors will consist of six members designated by Patrick and six by LCI. The transaction has been unanimously approved by both company's boards and is expected to close in 1H27, subject to shareholder approval from both companies, regulatory clearances and customary closing conditions. The combined company will have over $8 billion in revenue and $1 billion in Fitch-calculated EBITDA, inclusive of $150 million in planned run-rate cost synergies, representing a combined enterprise value of approximately $7.7 billion. The pro forma company is expected to maintain a balanced capital return framework, including dividends and share repurchases. Increased Scale and Diversification: The merger will add scale and diversification to Patrick's business. The two companies offer strategically adjacent product capabilities, creating a diversified portfolio across interior, exterior, structural and mechanical systems. Patrick's recreational vehicle (RV) sales will grow to about 50% of revenue from about 44%, while aftermarket revenue will grow to around 20-25% of total sales, up from around 15%. The increased exposure to aftermarket will lessen volume cyclicality, but this could be somewhat offset by higher cyclicality from the greater proportion of RV sales. $150 Million Merger Synergies: Patrick has identified $150 million in annualized merger synergies, which it expects to achieve within three years of closing. The synergies are primarily cost based and focus on reducing duplicative overhead and operational costs, as well as achieving scale economies in parts of the business. Additionally, procurement and supply chain efficiencies will allow the company to offer customers more competitive pricing, which reflects its enhanced market position. Potential Integration Risks: With little product overlap, Fitch does not expect any significant regulatory hurdles. Patrick has a proven and repeatable acquisition strategy, as evidenced by its record of bolt-on acquisitions, which somewhat mitigates integration risks. However, this is the largest merger in Patrick's history, leading to the potential for executional issues that could increase costs or delay synergy benefits. With an integration of this size, there is also the potential for operational issues that lead to unexpected costs or customer loss. EBITDA Leverage Expected to Decline: Fitch expects Patrick's gross EBTIDA leverage to decline to about 2.2x by end-2027 from 2.8x as of end-2025, with further improvement to around 2.0x by end-2029. This is due to LCI's relatively lower leverage, as well as the attainment of merger synergies. Improving retail demand and wholesale unit volume growth at the combined company's end markets will further contribute to leverage reduction. Patrick's operational and cost structures are highly flexible. In a sustained downturn, Fitch expects the company could quickly adjust output based on demand fluctuations, sustaining EBITDA margins in the low double-digits. Mid-Single Digit FCF Margins: Fitch expects Patrick's post-dividend FCF margins will run in the mid-single digits following the merger. The company's FCF margins will be supported by its low capex requirements and ability to flex working capital. Fitch believes that the company's FCF will continue to support its balanced capital allocation framework, allowing for dividends and share repurchases. Reliance on Outdoor Enthusiast Markets: The combined company will continue to rely on the discretionary outdoor enthusiast markets, which is a key revenue and cash flow risk. Pro forma the merger, Patrick's revenue will be derived 50% from the RV end market, 12% from marine, 21% from powersports and transportation, and 17% from housing. These end markets have historically been volatile, but Fitch believes they have likely passed the bottom of their recent cycle and shipments are likely to increase in 2027. Peer Analysis Patrick is a leading component supplier to original equipment manufacturers (OEMs) in the outdoor enthusiast and housing markets. Compared with Harley-Davidson, Inc. (BBB/Negative), Brunswick Corporation (BBB/Negative) and Polaris Inc. (BBB-/Negative), which are powersport OEMs, Patrick's revenue has similar demand risks but more stable margins. This comparative margin resiliency is linked to the company's ability to pass through changes in its costs to its OEM customers. Patrick is more acquisitive than the three OEMs, with mid-cycle leverage running about 1x to 2x higher, leading to some incremental leverage variability, although the company retains favorable through-the-cycle financial flexibility. MasterBrand, Inc. (BB+/Stable) supplies housing-related products. It has a leading market position in its product category and is exposed to cyclicality in housing construction and remodeling. However, this volatility tends to be lower than in the outdoor enthusiast market. Its product offerings are more limited than Patrick's. MasterBrand is smaller than Patrick, with similar leverage and higher margins. Fitch’s Key Rating-Case Assumptions - The LCI merger closes in 1H27; - Production decreases in 2026 as OEMs face reduced wholesale demand driven by a decline in retail demand amid tariffs and an elevated financing environment, before increasing in 2027 and beyond as retail demand recovers; - EBITDA margins remain stable at around 12%, driven by increased content, as well as $150 million in cost synergies from the LCI merger realized over three years; - Capex at about 2% of revenue; - Shareholder returns remain in-line with company's balanced framework; - Any bolt-on acquisitions in 2028 and 2029 are funded by a combination of incremental debt, equity and cash on hand; - Fitch's interest rate assumptions are 4.0% in 2026, 4.0% in 2027, 3.75% in 2028 and 3.75% in 2029. Corporate Rating Tool Inputs and Scores Fitch scored the issuer as follows, using its Corporate Rating Tool (CRT) to produce the Standalone Credit Profile (SCP): Business and financial profile factors (assessment, relative importance): management ('bbb-', Lower), sector characteristics ('b+', Higher), market and competitive positioning ('b+', Moderate), diversification and asset quality ('bb+', Higher), company operational characteristics ('bb+', Moderate), profitability ('bbb', Moderate), financial structure ('bbb-', Higher), and financial flexibility ('bbb', Moderate). The quantitative financial subfactors are based on custom CRT financial period parameters: 50% weight for the historical year 2025 and 50% for the forecast year 2026. The governance assessment of 'good' has no impact. The operating environment assessment of 'aa-' has no impact. The SCP is 'bb'. To derive the Long-Term IDR: Fitch made no adjustments to the SCP, resulting in an IDR of 'BB'. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade If the merger with LCI is not successfully completed: - Acquisitions that reduce operational and cost flexibility, and heighten margin and through-the-cycle FCF variability; - Material shift in capital allocation plan that reduces through-the-cycle financial flexibility, including (CFO-capex) /debt sustained below 12%; - Mid-cycle EBITDA leverage sustained over 3.0x. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Successful completion of the merger with LCI; - M&A strategy that continues to diversify product-mix within existing end-markets and strengthens the through-the-cycle cash flow profile; - Adherence to a balanced capital allocation plan preserving through-the-cycle financial flexibility, including (CFO-capex)/debt sustained over 18%; - Mid-cycle EBITDA leverage sustained below 2.5x. Liquidity and Debt Structure As of March 29, 2026, Patrick had $37 million in cash and $696 million available under its $875 million revolving credit facility, net of $9 million of outstanding letters of credit. Patrick's debt structure at March 29, 2026 consisted of $117 million outstanding under its term loan, which matures in 2029, $350 million of 4.75% senior notes due May 2029, $259 million of 1.75% senior convertible notes that mature December 2028 and $500 million of 6.375% senior notes due November 2032. LCI had $957 million of debt outstanding at March 31, 2026, which consisted of a term loan and two series convertible notes. LCI's liquidity was supported by $595 million of availability on a $600 million revolver. Issuer Profile Patrick is a leading component solutions provider for the RV, marine, powersports and housing markets. MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS Fitch's latest quarterly Global Corporates Sector Forecasts Monitor data file which aggregates key data points used in its credit analysis. Fitch's macroeconomic forecasts, commodity price assumptions, default rate forecasts, sector key performance indicators and sector-level forecasts are among the data items included. Climate Vulnerability Signals The results of its Climate.VS screener did not indicate an elevated risk for Patrick. ESG Considerations The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Recovery Prior ----------- ------ -------- ----- Patrick Industries, Inc. LT IDR BB Rating Watch On BB senior unsecured LT BB Rating Watch On RR4 BB PCR AGAWAM: To Sell Agawam Property to Ahmet & Canan Gunay ---------------------------------------------------------- The PCR Agawam LLC seeks approval from the U.S. Bankruptcy Court for the District of Massachusetts, Western Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor wants to sell the rights, title and interests in certain real property located at 21 Dwight Street, Agawam, Massachusetts, for the purchase price of $2,250,000. The Debtor has received an offer from Ahmet Gunay and Canan Gunay of 107 Normandy Road, Longmeadow, Massachusetts for the purchase price of $2,250,000.00. The Debtor anticipates that the sale will take place no later August 28, 2026. The Property will be sold free and clear of all liens, claims and encumbrances. Any perfected, enforceable valid liens shall attach to the proceeds of the sale according to priorities established under applicable law. Through the Notice, higher offers for the Property are solicited. Any higher offer must be at least $10,000.00 more than the pending offer described in the notice and must be willing to pay a cash deposit of $50,000.00 prior to the hearing scheduled. If a party is interested in offering less than $2,250,000 for the purchase of Dwight Street, the Court may consider it as a backup offer if the higher offers do not close timely. The Court will determine the best offer. A hearing on the Notice, objections or higher offers, and the Sale Motion is scheduled for August 6, 2026 at 12:30 pm, before the Honorable Elizabeth D. Katz, United States Bankruptcy Judge, 300 State Street, Springfield, Massachusetts. The deposit will be forfeited to the estate if the successful purchaser fails to complete the sale by the date ordered by the Court. If the offer of any party other than the Buyer is approved by the Court, such party will execute promptly a purchase and sales agreement that substantially conforms to the Purchase and Sale Agreement previously executed. About PCR Agawam LLC PCR Agawam LLC is a Massachusetts-based limited liability company engaged in real estate ownership and investment activities. PCR Agawam LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-30101) on February 16, 2026. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities in the same range. Honorable Bankruptcy Judge Elizabeth D. Katz handles the case. The Debtor is represented by Louis S. Robin, Esq., of Law Offices of Louis S. Robin. PECO ELECTRIC: Seeks to Hire Cheek Legal PLLC as Counsel -------------------------------------------------------- Peco Electric, Incorporated seeks approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina to employ Cheek Legal, PLLC to handle the bankruptcy proceedings. The firm will be paid based upon its normal and usual hourly billing rates. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. The firm will be paid a retainer in the amount of $ 7,000. Mr. Cheek disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Clayton W. Cheek, Esq. Cheek Legal, PLLC 310 Craven Street, Suite 12 New Bern, NC 28560 Telephone: (252) 210-4311 Direct: (252) 210-4321 About PECO Electric Incorporated PECO Electric Incorporated filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D. N.C. Case No. 26-02613) on June 9, 2026, with $100,001 to $500,000 in both assets and liabilities. Clayton W. Cheek, Esq., at Cheek Legal, PLLC represents the Debtor as bankruptcy counsel. PETSMART LLC: S&P Alters Outlook to Stable, Affirms 'B+' ICR ------------------------------------------------------------ S&P Global Ratings revised its outlook on PetSmart to stable from negative and affirmed all its ratings on U.S.-based pet specialty retailer PetSmart LLC, including the 'B+' issuer credit rating. The stable outlook reflects S&P's expectation that PetSmart's strategy to strengthen its omnichannel experience will result in comparable store sales growth and roughly flat EBITDA over the next 12 months despite pressure on consumer spending, leading to sustained S&P Global Ratings-adjusted leverage below 5x. PetSmart LLC's operating performance is stabilizing because of strategic investments in its store operations and online capabilities. S&P forecasts modest sales growth with EBITDA declines narrowing throughout 2026 and S&P Global Ratings-adjusted leverage below 5x. S&P said, "The outlook revision reflects our expectation for steady revenue and EBITDA generation. In a difficult macroeconomic environment, we believe PetSmart's competitive standing has been bolstered by strategic actions to strengthen its value perception and enhancements to its product assortment. Additionally, initiatives to enhance its omnichannel capabilities have gained significant traction this year, including a 24% year-over-year increase in digital sales during the first 13 weeks. Digital sales now represent approximately 12% of total sales, and we expect most sales growth will come from increased e-commerce penetration. In our view, PetSmart's scale as the largest brick-and-mortar pet specialty retailer and its broad product and service offerings position it to benefit from a category that has generally resilient demand. Nevertheless, the competitive landscape remains intense and PetSmart faces stiff competition from other specialty and big box retailers. "We expect pressures on discretionary spending will limit demand for hard goods and that product mix headwinds will weigh on overall profitability. At the end of its first quarter, PetSmart's adjusted EBITDA margins were 15.6% on a trailing-12-months basis, a 100-basis-point contraction from the same period in the previous year. We attribute this compression largely to a decrease in gross profit margin, driven by tariffs as well as increased digital sales penetration and a higher mix of consumables, both of which carry lower margins. That said, we believe pressure on profitability will largely subside after 2026 and that EBITDA margins will improve in 2027, based on greater operating cost leverage. As a result, we expect S&P Global Ratings-adjusted leverage of 4.8x in 2026 and 4.6x in 2027." Recent strategic initiatives should support PetSmart's return to sales growth in 2026. As it navigates a challenging operating environment, PetSmart has stabilized revenue trends in recent quarters. The company has reported three consecutive quarters of comparable sales growth, including 2.5% in the first quarter (ended May 3, 2026). Revenue expansion has been supported by omnichannel initiatives and new product introductions, including expanded fresh and frozen food. Omnichannel capabilities are a key strategic advantage that complements the company's scale well. While increasing e-commerce sales will constrain margins, PetSmart's online business is profitable because its large network enables it to fulfill approximately 95% of orders from its stores. It also improves attach rates and shopping frequency. Furthermore, improvements in its digital booking capabilities have supported low-single-digit percent growth in salon services, although total service sales declined slightly in the quarter. S&P said, "We forecast S&P Global Ratings-adjusted EBITDA margins will settle in the 15%-16% range over the next two years as improvements in supply chain costs, enhanced productivity and modest top-line growth partially mitigate product and channel mix shift challenges. We anticipate PetSmart's marketing spending will remain elevated as it seeks to drive increased awareness to its online capabilities, including auto ship. This leads us to forecast adjusted EBITDA of $1.56 billion in 2026 and $1.64 billion in 2027." PetSmart's financial sponsor ownership temper good liquidity and cash generation. S&P said, "Our base case assumes adjusted EBITDA will trough in 2026, declining about 1%, following a 9% drop in 2025, and return to modest increases in 2027. Despite profit declines, we expect free operating cash flow (FOCF) of $250 million-$300 million and for it to maintain its adequate liquidity position, which includes cash on hand of $250 million ($79 million restricted) and availability of $835 million of revolver availability as of May 3, 2026. We anticipate capital expenditure (capex) will increase about 15% to $215 million this year, and we estimate approximately 40% will be spent on maintenance needs. We expect growth investments in new store openings, further omnichannel optimization, and enhancements to the in-store experience, with a focus on digital infrastructure and in-store technology." This includes IT enhancements and expanded coolers for fresh and frozen products. S&P said, "Despite lower FOCF, we expect the company will continue distributing cash to shareholders. Our base case includes about $375 million in annual dividends. Still, we believe internally generated cash flow will be sufficient to support expansion investments and maintain adequate liquidity. PetSmart has no near-term maturities following the refinancing of its capital structure in August 2025. However, leverage remains elevated, with total funded debt of $4.8 billion as of May 3, 2026 and S&P Global Ratings-adjusted debt to EBITDA of 4.7x. We expect it will improve modestly to 4.6x in 2027 from higher EBITDA and contractual amortization. "The stable outlook on PetSmart reflects our expectation that leverage will peak in the high-4x area in 2026 while the company focuses on enhancing its omnichannel capabilities to capture more wallet share. We forecast FOCF of more than $250 million in 2026 and improved leverage in 2027 due to modest EBITDA growth." S&P could lower its rating on PetSmart if S&P expects it will sustain leverage above 5x. This could occur if: -- Operating performance deteriorates due to heightened competitive activity, resulting in continued market share losses, industry softness from persistent pressure on discretionary spending, or an inability to execute sales initiatives; or -- The company's sponsors pursue a leveraging transaction or its financial policy becomes more aggressive, such as continuing to take dividends amid weakening performance. S&P could raise its rating if it sustains leverage below 4x. This could occur if: -- PetSmart adopts a more conservative financial policy and S&P anticipates its financial sponsor owners will relinquish control; or -- Operating performance strengthens meaningfully and S&P favorably reassess its view of its competitive position. This would likely include sustained same-store sales increases, demonstrating market share gains along with expanding profitability and FOCF. PHOENIX RACK: Case Summary & Eight Unsecured Creditors ------------------------------------------------------ Debtor: Phoenix Rack & Axle, Inc. 114 North 32nd Street Phoenix, AZ 85034 Business Description: Phoenix Rack & Axle, Inc., is a Phoenix, Arizona-based automotive parts remanufacturer that rebuilds and supplies drivetrain and steering components, including CV axles, rack-and-pinion units, gear boxes and drive shafts. Operating from a leased facility at 114 North 32nd Street, the company uses machining, welding, balancing, hydraulic-pressing, testing and parts-cleaning equipment to support its inventory of rebuilt components, used cores and rebuild parts. Chapter 11 Petition Date: June 30, 2026 Court: United States Bankruptcy Court District of Arizona Case No.: 26-06438 Judge: Hon. Madeleine C Wanslee Debtor's Counsel: Allan D. NewDelman, Esq. ALLAN D. NEWDELMAN, P.C. 80 East Columbus Avenue Phoenix, AZ 85012 Tel: 602-264-4550 Fax: 602-277-0144 E-mail: anewdelman@adnlaw.net Total Assets: $177,848 Total Liabilities: $2,134,012 The petition was signed by Stephen Griffin as president. A full-text copy of the petition, which includes a list of the Debtor's eight unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/KZT7ACY/PHOENIX_RACK__AXLE_INC__azbke-26-06438__0001.0.pdf?mcid=tGE4TAMA PMR LLC: Commences Chapter 11 Bankruptcy in New York ---------------------------------------------------- On June 24, 2026, PMR LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the Debtor reports between $500,000 and $1 million in debt. The petition lists estimated assets of $1 million to $10 million and estimated liabilities of $500,000 to $1 million. About PMR LLC PMR LLC is a Brooklyn, New York-based resort and vacation rental property company engaged in the ownership and operation of resort and short-term vacation rental properties. Court filings identify the company as operating within the resort and vacation lodging sector. The bankruptcy petition does not specify the circumstances that led to the Chapter 11 filing. PMR LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-43094) on June 24, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $500,000 to $1 million. Honorable Jil Mazer-Marino handles the case. The Debtor is represented by Charles Wertman, Esq. of Law Offices of Charles Wertman P.C. PNP LLC: Seeks Chapter 11 Bankruptcy in Colorado ------------------------------------------------ On June 22, 2026, PNP, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Colorado. According to court filings, the Debtor reports between $500,000 and $1 million in debt owed to 1-49 creditors. The Chapter 11 filing follows a debt-related lawsuit filed by IOU Central, Inc. in March 2026. A meeting of creditors under Section 341(a) meeting to be held on July 27, 2026 at 09:00 AM at Telephonic Chapter 11: Phone 888-330-1716, Access Code 8602461#. About PNP, LLC PNP, LLC is a Fort Collins, Colorado-based catering and special food services company operating under the trade names Northern Colorado Catering and Gelato & aMore. The company provides full-service catering for weddings, corporate events, and private functions, while also operating retail gelato locations from two facilities in Fort Collins. Historically, the business has served the Northern Colorado catering market since at least 2012 and previously managed event planning services at the University of Northern Colorado before consolidating operations in Fort Collins. PNP, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-14493) on June 22, 2026. In its petition, the Debtor reports estimated assets of $100,000 to $500,000 and estimated liabilities of $500,000 to $1 million. Honorable Thomas B. McNamara handles the case. The Debtor is represented by Payton Buhler, Esq. of Bell, Gould, Linder, & Scott, P.C. POWER LANE: Section 341(a) Meeting of Creditors on July 28 ---------------------------------------------------------- On June 19, 2026, Power Lane Logistics Distribution & Warehousing, Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of California. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to 1-49 creditors. A meeting of creditors under Section 341(a) to be held on July 28, 2026 at 02:30 PM via Sacramento Conference Line: 888-330-1716 Passcode: 4191086#. About Power Lane Logistics Distribution & Warehousing, Inc. Power Lane Logistics Distribution & Warehousing, Inc. is a Tracy, California-based freight transportation, logistics, and warehousing company providing general freight trucking, distribution, and storage services. As of June 2026, the company maintains active USDOT operating authority for property transportation and continues to operate as a debtor-in-possession. Its fleet includes two company-owned tractors and 32 trailers, while federal roadside inspection records associated with its operations identified approximately 90 trucks. Power Lane Logistics Distribution & Warehousing, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-23510) on June 19, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. Honorable Christopher D. Jaime handles the case. The Debtor is represented by David C. Johnston, Esq. RAY'S PIZZA: Gets Interim OK to Use Cash Collateral Until Aug. 25 ----------------------------------------------------------------- Ray's Pizza 88, LLC received third interim approval from the U.S. Bankruptcy Court for the District of Arizona to use cash collateral. Under the third interim order, the Debtor is authorized to use cash collateral to fund operations in accordance with a monthly budget, allowing up to a 10% variance per line item. This authorization remains effective through August 25, enabling the Debtor to maintain business operations during the interim period. The Debtor projects total operational expenses of $97,577.85 for July and $97,577.85 for August. To protect American Momentum Bank and other secured creditors, the court granted them replacement liens on post-petition assets such as cash and receivables to the extent of any decline in the value of their collateral. Additionally, the court approved monthly payments of $2,000 to American Momentum Bank and $200 to Roger's Aire Mechanical, LLC. The Debtor's authority to use cash collateral will terminate upon dismissal of the Debtor's Chapter 11 case, conversion of the case to one under Chapter 7, or further court order. The order preserves all parties' rights to challenge the validity, priority, or extent of liens. The order is available at http://bankrupt.com/misc/RaysPizza_ICCOrder85.0.pdf A final hearing is scheduled for August 20. Any objections must be filed at least five business days before the hearing. About Ray's Pizza 88 LLC Ray's Pizza 88 LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 26-02881) on March 25, 2026. In the petition signed by Robert A. Grover, Jr., member, the Debtor disclosed up to $100,000 in assets and up to $1 million in liabilities. Judge Madeleine C. Wanslee oversees the case. Ronald J. Ellett, Esq., at Ellett Law Offices, PC, represents the Debtor as legal counsel. REGIS COLLEGE: S&P Affirms 'BB' ICR Then Withdraws Rating --------------------------------------------------------- S&P Global Ratings affirmed its 'BB' issuer credit rating (ICR) on Regis College (Regis), Massachusetts. S&P Global Ratings subsequently withdrew the rating at the issuer's request. At the time of the withdrawal, the outlook was stable. The stable outlook at the time of the withdrawal reflected S&P's expectation that operations will remain negative during the one-year outlook period. New enrollment for undergraduate and graduate programs is expected to remain stable or improve with recently implemented recruiting and rebranding initiatives, supporting continued stabilization in total enrollment. REMEMBER ME: Gets Extension to Access Cash Collateral ----------------------------------------------------- Remember Me Senior Care, LLC received another extension from the U.S. Bankruptcy Court for the Eastern District of Tennessee at Chattanooga to use cash collateral to fund its operations. The court entered its 12th interim order authorizing the Debtor to use cash collateral until the final hearing in accordance with the most recent budget, with permitted variances of up to 15% for individual expense items and in the aggregate. As adequate protection, Andrew Johnson Bank and other secured creditors will be granted replacement liens on the Debtor's post-petition property to the same extent and priority as their security interest in the Debtor's pre-bankruptcy property. In addition, the Debtor was ordered to make cash payment of approximately $89,000 to Andrew Johnson Bank on the due date set forth in their loan agreement. The 12th interim order granted the Debtor a carveout and authorized the Debtor to pay from the cash collateral fees and disbursements to bankruptcy professionals, and any fees payable to the Clerk of the Bankruptcy Court. A copy of the court's order is available at https://shorturl.at/AMgj1 from PacerMonitor.com. A final hearing is scheduled for July 22. Andrew Johnson Bank is represented by: Harry R. Cash, Esq. Grant, Konvalinka & Harrison, P.C. 633 Chestnut Street, Suite 900 Chattanooga, TN 37450-0900 423-756-8400 (Phone) 423-756-0643 (Fax) hcash@gkhpc.com About Remember Me Senior Care Remember Me Senior Care, LLC, a company in Cleveland, Tenn., offers personalized assisted living and memory care services in a homelike environment. The facility provides a range of services, including help with daily activities, medication management, and specialized care for those with Alzheimer's or other dementias. Remember Me Senior Care sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tenn. Case No. 25-10451) on February 18, 2025. In its petition, the Debtor reported up to $50,000 in assets and between $10 million and $50 million in liabilities. Judge Nicholas W. Whittenburg oversees the case. The Debtor is represented by: Jeffrey W. Maddux, Esq. Chambliss, Bahner & Stophel P.C. Liberty Tower 605 Chestnut Street, Ste. 1700 Chattanooga, TN 37450 Tel: 423-757-0296 Fax: 423-508-1296 jmaddux@chamblisslaw.com REVOLVING KITCHEN: Hires Demarco Mitchell PLLC as Counsel --------------------------------------------------------- Revolving Kitchen - Dallas LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Demarco Mitchell, PLLC as counsel. The firm will provide these services: a. take all necessary action to protect and preserve the Estate, including the prosecution of actions on its behalf, the defense of any actions commenced against it, negotiations concerning all litigation in which it is involved, and objecting to claims; b. prepare on behalf of the Debtor all necessary motions, applications, answers, orders, reports, and papers in connection with the administration of the estate herein; c. formulate, negotiate, and propose a plan of reorganization; and d. perform all other necessary legal services in connection with these proceedings. The firm will be paid at these rates: Robert T. DeMarco $500 per hour Michael S. Mitchell $400 per hour Barbara Drake $150 per hour The firm received a retainer in the amount of $12,000, inclusive of the filing fee of $1,738. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. DeMarco disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Robert T. DeMarco, Esq. 12770 Coit Road, Suite 850 Dallas, TX 75251 Telephone: (972) 991-5591 Facsimile: (972) 346-6791 Email: robert@demarcomitchell.com About Revolving Kitchen - Dallas LLC Revolving Kitchen - Dallas LLC operates a commercial kitchen and food-service facility in Garland, Texas, providing licensed private kitchen suites, storage, equipment and related services for ghost kitchens, caterers, meal-prep businesses, food trucks and other food producers. Revolving Kitchen - Dallas LLC filed its voluntary petition for Chapter 11 protection (Bankr. N.D. TX., Case No. 26-42387) on May 31, 2026, listing $6,581,200 in assets and $10,532,033 in liabilities. Tyler Sul Shin as managing member of Revolving Kitchen - Dallas LLC, signed the petition. Judge Edward L Morris oversees the case. Robert T DeMarco, Esq. at DEMARCO MITCHELL, PLLC serve as the Debtor's legal counsel. RM FERRANTE: Taps Bernstein Shur Sawyer & Nelson as Counsel ----------------------------------------------------------- RM Ferrante LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Maine to employ Bernstein, Shur, Sawyer & Nelson, P.A. as general bankruptcy counsel. The firm will provide these services: (a) advise the Debtors with regard to the requirements of the Bankruptcy Court, Bankruptcy Code, Bankruptcy Rules, Local Rules, and the Office of the United States Trustee, as they pertain to the Debtors; (b) advise the Debtors with regard to certain rights and remedies of the bankruptcy estates and rights, claims, and interests of creditors and bringing such claims as the Debtors, in their business judgment, decide to pursue; (c) represent the Debtors in any proceeding or hearing in the Bankruptcy Court involving the estates; (d) conduct examinations of witnesses, claimants, or adverse parties, and represent the Debtors in any adversary proceeding (except to the extent that any such adversary proceeding is in an area outside of BSSN's expertise); (e) review and analyze various claims of the Debtors' creditors and treatment of such claims and prepare, file, or prosecute any objections thereto or initiate appropriate proceedings regarding leases or contracts to be rejected or assumed; (f) prepare and assist the Debtors with the preparation of reports, applications, pleadings, motions, and orders, including, but not limited to, applications to employ professionals, interim statements and operating reports, initial filing requirements, schedules and statements of financial affairs, cash collateral motion papers, and motions with respect to the Debtors' use of estate property (to the extent necessary); (g) assist the Debtors in the analysis, formulation, negotiation, and preparation of all necessary documentation relating to the sale of the Debtors' assets, as appropriate; (h) assist the Debtors in the negotiation, formulation, preparation, and confirmation of a plan (or plans); and (i) perform any other services that may be appropriate in BSSN's representation of the Debtors as general bankruptcy counsel in the cases. The anticipated attorneys and paraprofessionals rendering services and their hourly rates include: D. Sam Anderson, Attorney (Shareholder) at $665; Adam R. Prescott, Attorney (Shareholder) at $545; Kenneth Laughton, Attorney (Associate) at $320; Evelyn Kitchen, Paralegal at $275; and Kate Flynn, Paralegal at $180. BSSN's rates for shareholder and of counsel attorneys generally range from $400-$750/hour, and associate attorney rates generally range from $250-$350/hour. Bernstein, Shur, Sawyer & Nelson, P.A. is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code and does not hold or represent an interest adverse to the Debtors' estates, according to court filings. The firm can be reached at: D. Sam Anderson, Esq. Adam R. Prescott, Esq. BERNSTEIN, SHUR, SAWYER & NELSON, P.A. 100 Middle Street, PO Box 9729 Portland, ME 04104 Telephone: (207) 774-1200 E-mail: sanderson@bernsteinshur.com aprescott@bernsteinshur.com About RM Ferrante LLC RM Ferrante LLC is a holding and investment company engaged in the ownership, management, and operation of business and real estate assets. RM Ferrante LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-20170) on June 17, 2026. In its petition, the Debtor reported estimated assets of $1 million-$10 million and estimated liabilities of $10 million-$50 million. Honorable Bankruptcy Judge Peter G. Cary handles the case. The Debtor is represented by D. Sam Anderson, Esq. of Bernstein Shur Sawyer & Nelson. ROCKY MOUNTAIN: Al Harper Named Interim CEO for 180-Day Term ------------------------------------------------------------ Rocky Mountain Chocolate Factory, Inc. has appointed former Board member, Al Harper, as Interim Chief Executive Officer and Principal Executive Officer for a 180-day term, effective immediately. The Board and Executive Leadership Team remain committed to executing the Company's strategic priorities, supporting franchisees, strengthening operations, and creating long-term value for shareholders. The Company does not anticipate any changes to its strategic direction or day to day operations as a result of this leadership transition. "We are pleased to welcome Al Harper as Interim Chief Executive Officer," said Mel Keating, Chairman of the Board of Directors. "Al brings decades of executive leadership experience, a deep understanding of franchising and consumer brands, and a long-standing connection to Rocky Mountain Chocolate Factory and the Durango community. Having previously served on our Board of Directors, he understands our business, franchise system and opportunities for growth. The Board has full confidence in Al's ability to lead the Company through this next phase. We remain committed to supporting our franchisees, employees, shareholders and guests while continuing to execute our strategic priorities." "I am honored by the Board's confidence and grateful for the opportunity to serve Rocky Mountain Chocolate Factory during this important time," said Mr. Harper. "Our focus remains on supporting our franchisees and employees, delivering exceptional products and experiences for our guests and executing the Company's strategic priorities. I look forward to working alongside our talented leadership team, franchise partners and Board of Directors as we continue building on the momentum across our business." About Al Harper Al Harper is a seasoned executive with extensive leadership experience across franchised businesses, consumer brands, and publicly traded companies. Throughout his career, he has served as a chief executive officer, board member and strategic advisor, helping organizations strengthen operations, drive sustainable growth and create long term shareholder value. Mr. Harper previously served on the Rocky Mountain Chocolate Factory Board of Directors and brings a deep understanding of the Company's business, franchise system and long-standing commitment to the Durango community. 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. As of February 28, 2026, the Company had $20.2 million in total assets, $15 million in total liabilities, and $5.2 million in total stockholders' equity. Los Angeles, California-based CohnReznick LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated May 29, 2026, attached to the Company's Annual Report on Form 10-K for the year ended February 28, 2026, citing that the Company has incurred recurring losses and negative cash flows from operations in recent years and is dependent on debt and equity financing to fund its operations, all of which raise substantial doubt about the Company's ability to continue as a going concern. ROLLING TANK: Seeks Chapter 11 Bankruptcy in Pennsylvania --------------------------------------------------------- On June 22, 2026, Rolling, Tank and Fabrication Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Western District of Pennsylvania. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to 1-49 creditors. About Rolling, Tank and Fabrication Inc. Rolling, Tank and Fabrication Inc. is a Waynesburg, Pennsylvania-based metal tank manufacturer specializing in the fabrication of custom steel, stainless steel, and aluminum products. The company operates a manufacturing facility in Washington, Pennsylvania, providing roll and press brake forming services. Rolling, Tank and Fabrication Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. not provided) on June 22, 2026. In its petition, the Debtor reports estimated assets of $100,000 to $500,000 and estimated liabilities of $1 million to $10 million. Honorable Carlota M. Böhm handles the case. The Debtor is represented by Christopher M. Frye, Esq. of Steidl & Steinberg, P.C. ROOTED ENTERPRISE: Seeks to Hire LKG Realty Advisors as Broker -------------------------------------------------------------- Rooted Enterprise, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ LKG Realty Advisors as real estate broker. The firm's services include: a. listing and marketing the Property located at 2775 Barron Road, College Station, Texas 77845 for sale in the greater Bryan–College Station area and beyond; b. soliciting, receiving, and presenting offers from prospective purchasers; c. advising the Debtor with respect to, and negotiating the terms of, any proposed sale; and d. assisting the Debtor with due diligence, contract execution, and closing. The firm will be paid at a commission of 6 percent of the gross sale price of the Property, payable at closing from the proceeds of sale. Mr. Lemons disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Rick Lemons LKG Realty Advisors PO Box 9693 College Station, TX 77842 Tel: (979) 221-2929 About Rooted Enterprise LLC Rooted Enterprise LLC is a limited liability company engaged in commercial and operational business activities in Texas. Rooted Enterprise LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-33356) on May 11, 2026. In its petition, the Debtor reported estimated assets between $1 million and $10 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Jeffrey P. Norman handles the case. The Debtor is represented by Elyse M. Farrow, Esq. and Melissa Anne Haselden, Esq. of Haselden Farrow PLLC. ROYAL PRODUCT: Seeks Chapter 11 Bankruptcy in Puerto Rico --------------------------------------------------------- On June 19, 2026, Royal Product Group LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Puerto Rico. According to court filings, the Debtor reports between $100,000 and $500,000 in debt owed to 1-49 creditors. About Royal Product Group LLC Royal Product Group LLC is a Ponce, Puerto Rico-based manufacturer of sanitary paper products serving the personal hygiene market. The company manufactures products primarily under the Gala Diapers and Gala Adult Care brands from its production facility in Ponce. Its product portfolio includes adult diapers, wet wipes, bed pads, pet pads, and sanitary towels. The manufacturer has also been a member of the Asociación Hecho en Puerto Rico and has employed an estimated 50 to 100 workers. Royal Product Group, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. P.R. Case No. 26-02805) on June 19, 2026, with $100,001 to $500,000 in both assets and liabilities. Juan Carlos Bigas Valedon, Esq., at Juan C Bigas Law Office represents the Debtor as bankruptcy counsel. RUM SUGAR: Seeks Subchapter V Bankruptcy in Nevada -------------------------------------------------- On July 2, 2026, Rum Sugar Lime, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Nevada. According to court filings, the Debtor reports between $500,000 and $1 million in debt owed to 1-49 creditors. The deadline to file the Chapter 11 Small Business Subchapter V Plan is September 30, 2026. About Rum Sugar Lime, LLC Rum Sugar Lime, LLC is a Reno, Nevada-based cocktail bar and tropical lounge operating from 1039 S. Virginia St. in Midtown Reno. In addition to its lounge, the company manages the Nautilus private event venue and continues to offer seasonal food and beverage menus while restructuring its financial obligations. Established in 2018, the business also received state COVID-19 relief funding in 2021. Rum Sugar Lime, LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-50674) on July 2, 2026. In its petition, the Debtor reports estimated assets of $50,000 to $100,000 and estimated liabilities of $500,000 to $1 million. Honorable Hilary L. Barnes handles the case. The Debtor is represented by Kevin A. Darby, Esq. of Darby Law Practice, Ltd. SANTA PAULA: Hires as Evans Appraisal Service Inc. as Appraiser --------------------------------------------------------------- Santa Paula Hay & Grain and Ranches seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Evans Appraisal Service, Inc. as appraiser. The firm will value the real properties of the Debtor known as Ranch 6 consisting of 80 acres of agricultural land located in Arvin, CA; and Ranch 3 consisting of 160 acres of agricultural land located at 35198 Hart Ave., Delano CA 93215. The firm will be paid as follows: Ranch 6 $5,000 Ranch 3 $5,000 Mr. Evans disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Michael H. Evans Evans Appraisal Service, Inc. 479 E. Avenue Chico, CA 95926 Telephone: (503) 895-1212 About Santa Paula Hay & Grain and Ranches Santa Paula Hay & Grain and Ranches specializes in providing a variety of hay and grain products to meet the needs of farmers and animal owners. The Company offers high-quality feed options for livestock and pets. Santa Paula Hay & Grain and Ranches sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-10314) on March 12, 2025. In its petition, the Debtor reports estimated assets between $100 million and $500 million and between $10 million and $50 million. Honorable Bankruptcy Judge Ronald A. Clifford III handles the case. The Debtor is represented by Reed Olmstead, Esq. SCILEX HOLDING: Adds 1.3M Shares to 2022 Equity Incentive Plan -------------------------------------------------------------- Scilex Holding Company has prepared a Registration Statement on Form S-8 in accordance with the requirements of Form S-8 under the Securities Act of 1933, as amended, to register 1,300,000 additional shares of common stock, $0.0001 par value per share, of the Company issuable pursuant to the Scilex Holding Company 2022 Equity Incentive Plan, as amended. Scilex's stockholders initially approved the 2022 Plan on November 9, 2022. On June 24, 2026, the stockholders approved an amendment to the 2022 Plan to increase the number of shares of Common Stock available for issuance pursuant to the 2022 Plan by an additional 1,300,000 shares of Common Stock. Pursuant to the Registration Statement on Form S-8 (File No. 333-269256) filed by the Company with the Securities and Exchange Commission on January 17, 2023, the Registration Statement on Form S-8 (File No. 333-271739) filed by the Company with the Commission on May 9, 2023, the Registration Statement on Form S-8 (File No. 333-278283) filed by the Company with the Commission on March 27, 2024, the Registration Statement on Form S-8 (File No. 333-286291) filed by the Company with the Commission on April 1, 2025 and the Registration Statement on Form S-8 (File No. 333-293289) filed by the Company with the Commission on February 9, 2026, the Company previously registered an aggregate of 1,928,511 shares of Common Stock under the 2022 Plan. A full text copy of the Registration Statement is available at https://tinyurl.com/ykrbunsz 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. Walnut Creek, California-based BPM LLP, the Company's auditor since 2024, issued a "going concern" qualification in its report dated April 10, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, 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 March 31, 2026, the Company had $293.6 million in total assets, $547.7 million in total liabilities, and $254.1 million in total stockholders' deficit. SEA OAKS: Case Summary & Four Unsecured Creditors ------------------------------------------------- Debtor: Sea Oaks Condominium Council of Co-Owners, Inc. 371-395 Sea Clouds Circle Edisto Beach SC 29438 Business Description: Sea Oaks Condominium Council of Co-Owners is an Edisto Beach, South Carolina-based nonprofit condominium and timeshare association, formed in 1984, that manages and regulates the units and common areas of Sea Oaks Condominium, a four- building, 24-unit timeshare property within the Ocean Ridge master development. Chapter 11 Petition Date: June 26, 2026 Court: United States Bankruptcy Court District of South Carolina Case No.: 26-02882 Judge: Hon. L Jefferson Davis IV Debtor's Counsel: Michael Conrady, Esq. CAMPBELL LAW FIRM, PA 890 Johnnie Dodds Blvd. Mt Pleasant SC 29464 Tel: 843-884-6874 E-mail: mconrady@campbell-law-firm.com Debtor's Bankruptcy Co-Counsel: K&L GATES LLP Debtor's Real Estate Broker: HILCO REAL ESTATE, LLC Debtor's Management Services Provider: WYNDHAM VACATION MANAGEMENT, INC. Estimated Assets: $1 million to $10 million Estimated Liabilities: $100,000 to $500,000 The petition was signed by Douglas Punger as president. A full-text copy of the petition, which includes a list of the Debtor's four unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/MEPREBI/Sea_Oaks_Condominium_Council_of__scbke-26-02882__0001.0.pdf?mcid=tGE4TAMA SEA PALMS: Case Summary & Four Unsecured Creditors -------------------------------------------------- Debtor: Sea Palms Council of Co-Owners 301-325 Sea Cloud Circle Edisto Beach SC 29438 Business Description: The Sea Palms Condominium Council of Co-Owners is an unincorporated association of owners organized under the laws of South Carolina. The Association governs Sea Palms Condominium, a timeshare community located at 371-395 Sea Cloud Circle in Edisto Beach, South Carolina, with a principal place of business at #1 King Cotton Road. Created under a declaration dated September 24, 1984, the property consists of six buildings with 25 fully furnished units, each containing a full kitchen, along with common elements. Chapter 11 Petition Date: June 26, 2026 Court: United States Bankruptcy Court District of South Carolina Case No.: 26-02880 Judge: Hon. L Jefferson Davis IV Debtor's Counsel: Michael Conrady, Esq. CAMPBELL LAW FIRM, PA 890 Johnnie Dodds Blvd. Mt Pleasant, SC 29464 Tel: 843-884-6874 E-mail: mconrady@campbell-law-firm.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $100,000 to $500,000 The petition was signed by Kent Lovett as president. A full-text copy of the petition, which includes a list of the Debtor's four unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/O3SUM7A/Sea_Palms_Council_of_Co-Owners__scbke-26-02880__0001.0.pdf?mcid=tGE4TAMA SEA PALMS: Initiates Chapter 11 Bankruptcy in South Carolina ------------------------------------------------------------ On June 26, 2026, Sea Palms Council of Co-Owners filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of South Carolina. According to court filings, the Debtor reports between $100,000 and $500,000 in debt owed to 1-49 creditors. About Sea Palms Council of Co-Owners Sea Palms Council of Co-Owners is an Edisto Beach, South Carolina-based condominium association responsible for the governance, maintenance, and administration of the Sea Palms residential community. The association oversees approximately 105 condominium units, which have an average market value of about $1 million each, and continues to manage community operations and property maintenance. Sea Palms Council of Co-Owners sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-02880) on June 26, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $100,000 to $500,000. Honorable L. Jefferson Davis IV handles the case. The Debtor is represented by Michael Conrady, Esq. of Campbell Law Firm, P.A. SEARLES VALLEY: Hire Ankura Consulting as Restructuring Advisors ---------------------------------------------------------------- Searles Valley Minerals Inc and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Delaware to employ Ankura Consulting Group, LLC as restructuring advisors. The firm will provide these services: a. assist management with managing cash flows and updating the DIP Budget as well as providing the required reporting as outline in the DIP financing agreement; b. assist Company in producing financial analyses and reporting for the lenders and other constituents; c. assist the Company in the administration of its chapter 11 cases, including DIP financing and chapter 11 reporting, vendor analysis and negotiations, witness testimony, and other services as may be requested by the Company; d. assist management in negotiations with stakeholders and their professional constituencies; e. assist the Company in communications with vendors, suppliers, and other stakeholders; f. assist management with contingency planning and preparations as may be required to affect a restructuring; g. assist and prepare the Company for asset sales pursuant to section 363 of the Bankruptcy Code as requested by Company; and h. perform such other professional services as may be requested by the Company and agreed to by Ankura in writing. The firm will be paid at these rates: Senior Managing Directors & Managing Directors $1,140 to 1,545 per hour Senior Directors & Directors $785 to 1085 per hour Senior Associates & Associates $645 to 905 per hour Paraprofessionals $395 to 455 per hour The firm received a retainer in the amount of $2,521,331.89 In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Frankum disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Adrian Frankum Ankura Consulting Group, LLC 485 Lexington Avenue, 10th Floor New York, NY 10017 Tel: (646) 968-3655 Fax: (917) 601-0224 About Searles Valley Minerals Searles Valley Minerals, Inc. operates mining and processing facilities that produce a variety of mineral products for industrial, agricultural, and commercial customers. Its portfolio includes soda ash, boron-based products, sodium sulfate, and other specialty minerals derived from California's Searles Lake. Searles Valley Minerals and its affiliates, Trona Railway Company, LLC and Searles Domestic Water Company, LLC, sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 26-10966) on June 15, 2026. In its petition, Searles Valley Minerals reported between $100 million and $500 million in both assets and liabilities. Honorable Bankruptcy Judge Brendan Linehan Shannon handles the cases. The Debtors tapped Pachulski Stang Ziehl & Jones, LLP, and Skadden, Arps, Slate, Meagher & Flom, LLP as legal counsel; Ankura Consulting Group, LLC as financial advisor; and Lazard Frères & Co., LLC as investment banker. Stretto, Inc. is the Debtors' noticing, claims management, balloting and solicitation agent. SEARLES VALLEY: Hires Lazard Freres & Co. as Investment Banker -------------------------------------------------------------- Searles Valley Minerals Inc and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Delaware to employ Lazard Freres & Co. LLC and Lazard & Co., Limited as investment banker. The firm's services include: a. reviewing and analyzing the Debtors' business, operations and financial projections; b. assisting in the determination of a capital structure for the Debtors; c. advising the Debtors on implementation of any proposed Restructuring, Sale Transaction and/or Financing; d. assisting in the determination of a range of values for the Debtors on a going concern basis; e. advising the Debtors on developing transaction structures, tactics and strategies for achieving their capital structure objectives; f. rendering financial advice to the Debtors and participating in meetings or negotiations with the Stakeholders and/or rating agencies or other appropriate parties in connection with any Restructuring, Sale Transaction and/or Financing; g. advising the Debtors on the timing, nature, and terms of new securities, other consideration or other inducements to be offered pursuant to any Restructuring, Sale Transaction and/or Financing; h. advising and assisting the Debtors in evaluating any potential Financing transaction by the Debtors, and, subject to Lazard's agreement so to act and, if requested by Lazard, to execution of appropriate agreements, on behalf of the Debtors, contacting potential sources of capital as the Debtors may designate and assisting the Debtors in implementing such Financing; i. assisting the Debtors in preparing documentation within Lazard's area of expertise that is required in connection with any Restructuring, Sale Transaction and/or Financing; j. assisting the Debtors in identifying and evaluating candidates for any potential Sale Transaction, advising the Debtors in connection with negotiations and aiding in the consummation of any Sale Transaction; k. evaluating the financial terms of any proposed Restructuring, Sale Transaction, and/or Financing; l. attending meetings of the Board of Directors of the Debtors with respect to matters on which Lazard has been engaged to advise under the Engagement Letter; m. providing testimony, as necessary, with respect to matters on which Lazard has been engaged to advise under the Engagement Letter in any proceeding before the Bankruptcy Court; and n. providing the Company with other financial restructuring advice related to the foregoing. The firm will be paid at these rates: a) Monthly Fee. A monthly fee of $150,000 (the "Monthly Fee"), which began accruing on May 1, 2026 and be payable on execution of the Engagement Letter and on the first day of each month thereafter until the earlier of the completion of the Restructuring or the termination of Lazard's engagement pursuant to Section 9 of the Engagement Letter. Fifty percent (50%) of Monthly Fees paid in respect of any months following the sixth month of this engagement shall be credited (without duplication) against any Restructuring Fee, or Sale Transaction Fee payable (the "Monthly Fee Credit"); provided, that, in the event of a Chapter 11 filing, such credit shall only apply to the extent that such fees are approved in entirety by the Bankruptcy Court, if applicable. b) Restructuring Fee. A fee equal to $5,000,000, payable upon the consummation of a Restructuring (the "Restructuring Fee"). c) Sale Transaction Fee. i. If, whether in connection with the consummation of a Restructuring or otherwise, the Company consummates a Sale Transaction directly or indirectly incorporating all or a majority of the assets or all or a majority or controlling interest in the equity securities of the Company (a "Control Sale"), Lazard shall be paid a fee (the "Sale Transaction Fee") equal to: (A) $3,000,000 payable upon completion of the Sale Transaction, plus; (B) an additional fee payable upon completion of the Sale Transaction, equal to: (1) 3.5% of the incremental Enterprise Value of the Company in excess of $200,000,000 and up to $300,000,000 (inclusive); plus (2) 5.0% of the incremental Enterprise Value of the Company in excess of $300,000,000. ii. If, whether in connection with the consummation of a Restructuring or otherwise, the Company consummates any Sale Transaction not covered by clause (i) above, the Company shall pay Lazard a fee (the "Other Sale Transaction Fee") equal to 1.5% of the Aggregate Consideration received for each Other Sale Transaction. iii. Any Sale Transaction Fee or Other Sale Transaction Fee shall be payable upon consummation of the applicable Sale Transaction. d) Financing Fee. A fee, payable upon consummation of a Financing (the "Financing Fee"), equal the applicable percentages of gross proceeds as follows based on the type of Financing: (i) 1.75% of any senior secured debt financing, plus (ii) 3.0% of any junior secured, last-out, unsecured, or subordinated debt financing, plus (iii) 4.0% of any equity, equity-linked or equity-stapled or similarly bundled equity financing (including, but not limited to, preferred or common equity, convertible debt, debt bundled or stapled with equity or equity-linked financing, options, warrants, or other rights to acquire interests). To the extent that the type of Financing issued (including any "stapled" or similarly bundled securities) would qualify as more than one of the types of Financings listed above, the highest applicable fee percentage shall apply); provided, however, that for any proposed "debtor-in-possession" Financing, the Financing Fee shall be earned and shall be payable upon the earlier of execution of a commitment letter or a definitive agreement with respect to the Financing; and, provided, further, that to the extent that Lazard is paid a fee in connection with a proposed "debtor-in-possession" Financing and the Bankruptcy Court does not provide any required approval with respect thereto, Lazard shall return such fee to the Company. No Financing Fee shall be payable in connection with any out-of-court financing that is provided by the Company's existing shareholders; provided that Lazard did not run a financing process in connection therewith. Fifty percent (50%) percent of any Financing Fee shall be credited (without duplication) against any Restructuring Fee or Sale Transaction Fee payable. e) In the event that both a Restructuring and a Control Sale are consummated, only the greater of such fees, adjusted by the Monthly Fee Credit (as applicable), shall be payable to Lazard. For the avoidance of any doubt, more than one fee may be payable pursuant to each of clauses (c)(ii) and (d) above. f) In addition to any fees that may be payable to Lazard and, regardless of whether any transaction occurs, the Company shall promptly reimburse Lazard for all reasonable and documented expenses and reasonable document production charges incurred by Lazard (including travel and lodging, communications charges, courier services and other expenditures) and the reasonable and documented fees and expenses of counsel, if any, retained by Lazard. Mr. Tempke disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Christian Tempke Lazard Freres & Co. LLC 30 Rockefeller Plaza New York, NY 10012 Tel: (212) 632-6000 About Searles Valley Minerals Searles Valley Minerals, Inc. operates mining and processing facilities that produce a variety of mineral products for industrial, agricultural, and commercial customers. Its portfolio includes soda ash, boron-based products, sodium sulfate, and other specialty minerals derived from California's Searles Lake. Searles Valley Minerals and its affiliates, Trona Railway Company, LLC and Searles Domestic Water Company, LLC, sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 26-10966) on June 15, 2026. In its petition, Searles Valley Minerals reported between $100 million and $500 million in both assets and liabilities. Honorable Bankruptcy Judge Brendan Linehan Shannon handles the cases. The Debtors tapped Pachulski Stang Ziehl & Jones, LLP, and Skadden, Arps, Slate, Meagher & Flom, LLP as legal counsel; Ankura Consulting Group, LLC as financial advisor; and Lazard Frères & Co., LLC as investment banker. Stretto, Inc. is the Debtors' noticing, claims management, balloting and solicitation agent. SEARLES VALLEY: Hires Pachulski Stang Ziehl & Jones as Co-Counsel ----------------------------------------------------------------- Searles Valley Minerals Inc seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ Pachulski Stang Ziehl & Jones LLP as Co-Counsel. The firm's services include: a. preparing schedules of assets and liabilities, statement of financial affairs, schedules of income and expenditures, lists of creditors and equity security holders, statements of executory contracts and unexpired leases, and master mailing list; b. preparing, where appropriate, papers related to the assumption or rejection of executory contracts or unexpired leases, postpetition financing arrangements and use of cash collateral, or the sale of assets; c. assist, as needed, in negotiating, preparing, and implementing a plan of reorganization; d. assisting, as needed, in the preparation of a disclosure statement; e. appearing at the meeting of creditors pursuant to section 341(a) of the Bankruptcy Code; f. representing the Debtors at hearings in this Court concerning the Debtors or the chapter 11 cases; g. representing the Debtors in litigation in this Court related to bankruptcy issues; and h. advising the Debtors generally regarding their rights and responsibilities as debtors in possession under the Bankruptcy Code and the Bankruptcy Rules. i. providing other services the Debtors may require in connection with prosecution of their Chapter 11 Cases. The firm will be paid at these rates: Partners $1,150 to $2,695 per hour Counsel $1,175 to $2,050 per hour Associates $725 to $1,350 per hour Paralegals $625 to $695 per hour The firm received a retainer in the amount of $250,000. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Pursuant to Part D1 of the 2013 UST Guidelines, the firm is seeking employment as co-counsel for the Debtors under section 327 of the Bankruptcy Code and provides the following responses set forth below: Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Response: No. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response: No. Question: If you represented the client in the 12 months 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 reasons for the difference. Response: PSZ&J represented the client during the 12-month period prepetition. The material financial terms for the prepetition engagement remained the same, as the engagement was hourly based subject to economic adjustment. The billing rates and material financial terms for the postpetition period remain the same as for the prepetition period, subject to annual economic adjustment. The standard hourly rates of PSZ&J are subject to periodic adjustment in accordance with the Firm's practice. Question: Has your client approved your respective budget and staffing plan, and, if so, for what budget period? Response: The Debtors have developed a 13-week cash flow budget, which includes a line item for "Professional Fees," including PSZ&J's good-faith estimated fees. The Debtors and PSZ&J expect to develop a prospective budget and staffing plan to comply with the U.S. Trustee's requests for information and additional disclosures, recognizing that in the course of these large chapter 11 cases there may be unforeseeable fees and expenses that will need to be addressed by the Debtors and PSZ&J. Ms. Jones disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Laura Davis Jones Pachulski Stang Ziehl & Jones LLP 919 North Market Street, 17th Floor, Wilmington, DE 19801 About Searles Valley Minerals Searles Valley Minerals, Inc. operates mining and processing facilities that produce a variety of mineral products for industrial, agricultural, and commercial customers. Its portfolio includes soda ash, boron-based products, sodium sulfate, and other specialty minerals derived from California's Searles Lake. Searles Valley Minerals and its affiliates, Trona Railway Company, LLC and Searles Domestic Water Company, LLC, sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 26-10966) on June 15, 2026. In its petition, Searles Valley Minerals reported between $100 million and $500 million in both assets and liabilities. Honorable Bankruptcy Judge Brendan Linehan Shannon handles the cases. The Debtors tapped Pachulski Stang Ziehl & Jones, LLP, and Skadden, Arps, Slate, Meagher & Flom, LLP as legal counsel; Ankura Consulting Group, LLC as financial advisor; and Lazard Frères & Co., LLC as investment banker. Stretto, Inc. is the Debtors' noticing, claims management, balloting and solicitation agent. SEARLES VALLEY: Hires Skadden Arps Slate Meagher as Counsel ----------------------------------------------------------- Searles Valley Minerals Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Delaware to Skadden, Arps, Slate, Meagher & Flom LLP as counsel. The firm 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 business and properties; b. attend meetings and negotiate with representatives of creditors and other parties in interest and advise and consult on the conduct of the Chapter 11 Cases, including all of the legal and administrative requirements of operating in Chapter 11; c. take all necessary actions to protect and preserve the Debtors' estates, including the prosecution of actions on the Debtors' behalf, the defense of actions commenced against the Debtors' estates, negotiations concerning litigation in which the Debtors may be involved, and objections to claims filed against the Debtors' estates; d. prepare on behalf of the Debtors motions, applications, answers, orders, reports, and papers necessary to the administration of the estates; e. advise the Debtors and negotiate on the Debtors' behalf regarding the sale of all or substantially all assets pursuant to Bankruptcy Code Section 363 and all related agreements or documents; f. negotiate and prepare on the Debtors' behalf Chapter 11 plan(s) and all related agreements and/or documents, and take any necessary action on behalf of the Debtors in connection with the Chapter 11 Cases; g. explore various strategic alternatives to address the Debtors' financial circumstances; h. appear before this Court, any appellate courts, and the U.S. Trustee, and protect the interests of the Debtors' estates before such courts and the U.S. Trustee; and i. perform all other necessary legal services and provide all other necessary legal advice to the Debtors in connection with the Chapter 11 Cases. The firm will be paid at these rates: Associates $795 to $1,825 per hour Counsel $1,930 to $2,125 per hour Partners $2,175 to $2,850 per hour The firm received an initial Advanced Payment Retainer in the amount of $750,000. The following information is provided by Skadden pursuant to 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: Skadden represented the client in the 12 months prepetition. During that representation, Skadden did not raise its billing rates, and the material financial terms for the prepetition engagement did not change. Question: Has your client approved your prospective budget and staffing plan, and, if so, for what budget period? Answer: The Debtors have developed a 13-week cash flow budget, which includes a line item for "Professional Fees," including Skadden's good-faith estimated fees. Using this budget as a guide, Skadden and the Debtors are developing a Skadden-specific prospective budget and staffing plan in coordination with conflicts and efficiency counsel, Pachulski. Recognizing that unforeseeable fees and expenses may arise in complex chapter 11 cases, Skadden and the Debtors may need to amend the Skadden budget as necessary to reflect changed circumstances or unanticipated developments. Skadden and the Debtors will comply with the U.S. Trustee's requests for information and additional disclosures and with any orders of this Court. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Mazza, Jr. disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: James J. Mazza, Jr., Esq. Skadden, Arps, Slate, Meagher & Flom LLP 320 S Canal St Chicago, IL 60606 Tel: (312) 407-0521 Fax: (312) 827-9322 Email: james.mazza@skadden.com About Searles Valley Minerals Searles Valley Minerals, Inc. operates mining and processing facilities that produce a variety of mineral products for industrial, agricultural, and commercial customers. Its portfolio includes soda ash, boron-based products, sodium sulfate, and other specialty minerals derived from California's Searles Lake. Searles Valley Minerals and its affiliates, Trona Railway Company, LLC and Searles Domestic Water Company, LLC, sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 26-10966) on June 15, 2026. In its petition, Searles Valley Minerals reported between $100 million and $500 million in both assets and liabilities. Honorable Bankruptcy Judge Brendan Linehan Shannon handles the cases. The Debtors tapped Pachulski Stang Ziehl & Jones, LLP, and Skadden, Arps, Slate, Meagher & Flom, LLP as legal counsel; Ankura Consulting Group, LLC as financial advisor; and Lazard Frères & Co., LLC as investment banker. Stretto, Inc. is the Debtors' noticing, claims management, balloting and solicitation agent. SEARLES VALLEY: Hires Stretto Inc. as Administrative Advisor ------------------------------------------------------------ Searles Valley Minerals Inc and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Delaware to employ Stretto, Inc. as administrative advisor. The firm will provide these services: a. assist with, among other things, solicitation, balloting, and tabulation of votes; prepare any related reports, as required in support of confirmation of a chapter 11 plan; b. prepare an official ballot certification and, if necessary, testify in support of the ballot tabulation results; c. assist with the preparation of the Debtors' schedules of assets and liabilities and statements of financial affairs and gather data in conjunction therewith; d. assist with the preparation of the Debtors' monthly operating reports and gather data in conjunction therewith; e. manage and coordinate any distributions pursuant to a chapter 11 plan if designated as distribution agent under such plan; and f. provide claims analysis and reconciliation. The firm's preferred hourly rate structures are: Analyst Waived Consultant (Associate/Senior Associate $70-$200 Director/Managing Director $210-$250 Solicitation Director $275 Executive Management Waived Prior to the petition date, the Debtor paid the firm an advance payment of $15,000. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Ms. Betance disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Sheryl Betance Stretto, Inc. 410 Exchange, Ste. 100 Irvine, CA 92602 Telephone: (714) 716-1872 Email: sheryl.betance@stretto.com About Searles Valley Minerals Searles Valley Minerals, Inc. operates mining and processing facilities that produce a variety of mineral products for industrial, agricultural, and commercial customers. Its portfolio includes soda ash, boron-based products, sodium sulfate, and other specialty minerals derived from California's Searles Lake. Searles Valley Minerals and its affiliates, Trona Railway Company, LLC and Searles Domestic Water Company, LLC, sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 26-10966) on June 15, 2026. In its petition, Searles Valley Minerals reported between $100 million and $500 million in both assets and liabilities. Honorable Bankruptcy Judge Brendan Linehan Shannon handles the cases. The Debtors tapped Pachulski Stang Ziehl & Jones, LLP, and Skadden, Arps, Slate, Meagher & Flom, LLP as legal counsel; Ankura Consulting Group, LLC as financial advisor; and Lazard Frères & Co., LLC as investment banker. Stretto, Inc. is the Debtors' noticing, claims management, balloting and solicitation agent. SENMIAO TECHNOLOGY: Debts Exceed Assets by $4.5M at Dec. 31 ----------------------------------------------------------- Senmiao Technology Limited's stockholder's deficit was US$4.5 million at Dec. 31, 2025. The stockholder's deficit was US$2.9 million at March 31, 2025. At Dec. 31, 2025, the Company had total assets of US$5.7 million and total liabilities of US$6.9 million. At March 31, 2025, the Company had total assets of US$5.8 million and total liabilities of US$5.2 million. Senmiao Technology Ltd stated that its business is capital intensive and identified several negative trends in its liquidity position, including the net loss of approximately $4.0 million for the nine months ended Dec. 31, 2025, an accumulated deficit of approximately $49.1 million as of Dec. 31, 2025, $0.8 million of net cash outflows in operating activities from continuing operations for the nine months ended Dec. 31, 2025, and the net working capital deficit of approximately $2.5 million as of Dec. 31, 2025. The Company disclosed that "accounts receivable and advance payments may increase our liquidity risk." It further stated: "We have used the majority of the proceeds from our equity offerings and plan to seek equity and/or debt financings to pay for the expenditure related to the automobile purchase." Management reported that the Company's liquidity position "has been substantially improved by two financing transactions completed in November 2025." Specifically, "the Company received net cash proceeds of approximately $0.66 million from issuance of common stock in PIPE Offering and $2.8 million from issuance of common stock and pre-funded warrants in registered direct offering." As a result, the Company's cash and cash equivalents as of Dec. 31, 2025, increased by approximately $2.8 million as compared with that of Sept. 30, 2025. With respect to going concern, management disclosed that it evaluated the Company's current liquidity and operating forecasts for the twelve months following the issuance of these unaudited condensed consolidated financial statements and has concluded that, as a result of the recent financing and improved cash flows, there was no substantial doubt about the Company's ability to continue as a going concern for a period of twelve months from the issuance of unaudited condensed consolidated financial statements for the quarterly period ended December 31, 2025." For the nine months ended Dec. 31, 2025, net cash used in operating activities was $1,258,193, consisting of net outflows of $793,096 from continuing operations and $465,097 from discontinued operations. For the same period, net cash provided by financing activities was $4,059,719, driven primarily by warrant exercises and November 2025 equity and warrant offerings, as well as borrowings from related parties. The Company also described specific capital resources and obligations. It reported a loan to a related party of $229,469 during the nine months ended Dec. 31, 2025, partially offset by $5,710 of proceeds from sales of used automobiles, resulting in net cash used in investing activities of $223,759. Senmiao noted borrowings from related parties of $277,165 and repayments to a related party of $127,514 during the nine months ended Dec. 31, 2025, and stated that debt financing from financial institutions and equity financings "have been utilized to finance our working capital requirements." Regarding off-balance sheet and contingent obligations, Senmiao disclosed that, as of the filing date, it had "no purchase commitment." It further stated that Hunan Ruixi holds 35% of equity interest in Jinkailong and "has not made any payments towards the investment amounting to RMB3.5 million (approximately $500,000)," and that, under new PRC registered capital rules, "Hunan Ruixi shall pay the subscribed capital of Jinkailong before June 30, 2032." The Company also reported a gain of $213,000 from "historical debt forgiveness by service providers and the company's former directors" during the three and nine months ended Dec. 31, 2025, and recognized a $2,896,455 loss as "excess of the warrants' fair value over the total offering proceeds" from its November 2025 issuance of common shares, pre-funded warrants, and concurrent private placement warrants. A full-text copy of the Form 10-Q/A is available at https://tinyurl.com/3mufamxt About Senmiao Technology Limited Senmiao Technology Limited is a U.S. holding company incorporated in the State of Nevada in 2017. The Company operates its business in one segment: automobile transaction and related services focusing on the online ride-hailing industry in the People's Republic of China through the Company's majority owned subsidiaries, Hunan Ruixi Business Operation Management Co., Ltd., a PRC limited liability company and formerly known as Hunan Ruixi Financial Leasing Co., Ltd., and Sichuan Jinkailong Automobile Leasing Co., Ltd., a PRC limited liability company, an equity investee in which the Company holds 35% of the equity interests. The Company also operated the business through its former wholly owned subsidiary, Chengdu Corenel Technology Co., Ltd., a PRC limited liability company, and its former majority owned subsidiary, Chengdu Jiekai Yunli Technology Co., Ltd., a PRC limited liability company and its subsidiary. SILVER STAR: Court Extends Cash Collateral Access to July 20 ------------------------------------------------------------ Silver Star Virginia Parkway, LLC received second interim approval from the U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division, to use cash collateral under a court-approved budget. The authority will automatically terminate on July 20 unless extended by agreement with lender Ashton Gaskins Storage, LLC or further court order. As adequate protection for any decline in the value of its collateral, Ashton will be granted replacement liens on the Debtor's rents, accounts, and other personal property whether acquired before or after the bankruptcy filing. The replacement liens maintain the same validity and priority as the lender's pre-petition liens and are automatically perfected without the need for additional filings. These liens do not apply to avoidance actions and remain subject to a fee carveout. The Debtor must also make a $30,000 payment as additional protection. The court preserves all parties' rights to challenge the validity, priority, or enforceability of the lender's liens and to seek additional relief regarding cash collateral use. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/wY7Dl from PacerMonitor.com. A final hearing is scheduled for July 20, with objections due by July 15. About Silver Star Virginia Parkway LLC Silver Star Virginia Parkway, LLC, doing business as Silver Star Storage, is a real estate company that owns and operates a self-storage facility in McKinney, Texas, as its sole asset. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-42315) on May 28, 2026, with $7,650,856 in total assets and $5,982,406 in total liabilities. David T. Wheeler, manager of Silver Star, signed the petition. Judge Mark X. Mullin oversees the case. Robert T. DeMarco, Esq., at DeMarco Mitchell, PLLC, represents the Debtor as legal counsel. SIREN SISTERS: Seeks to Hire Susan D. Lasky as Legal Counsel ------------------------------------------------------------ Siren Sisters Land Trust seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Susan D. Lasky, Esq., an attorney practicing law in Florida, as counsel. The attorney will provide these services: a. give advice to the Debtor with respect to her powers and duties as Debtor and the continued management of their financial affairs; b. advise the Debtor with respect to their 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 interest of the Debtor in all matters pending before the court; e. represent the Debtor in negotiation with creditors in the preparation of a Plan. Susan D. Lasky, Esq. will be paid $500 per hour. She was paid a retainer in the amount of $8,738. In addition, she will seek reimbursement for its out-of-pocket expenses. Ms. Lasky disclosed in a court filing that she is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Susan Lasky, Esq. 320 S.E. 18 St. Ft. Lauderdale, Fl 33316 Telephone: (954) 400-7474 Email: Sue@SueLasky.com About Siren Sisters Land Trust Siren Sisters Land Trust is a single-asset real estate entity that owns property at 501 Sandpiper Way in Boca Raton, Florida. Siren Sisters Land Trust filed its voluntary petition for Chapter 11 protection (Bankr. S.D.F.L. Case No. 26-17662) on June 11, 2026, listing $3,500,000 in assets and $2,171,475 in liabilities. Maxime Kaan-Lilly, as trustee of Siren Sisters Land Trust, signed the petition. Judge Mindy A Mora oversees the case. Susan D Lasky, Esq. at SUAN D. LASKY, PA serve as the Debtor's legal counsel. SLEEP NUMBER: Seeks to Hire A&G Realty Partners as Consultant ------------------------------------------------------------- Sleep Number Corporation and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of New York to hire A&G Realty Partners, LLC to serve as a real estate consultant and advisor. The firm will provide these services: (a) assist the Debtors with real estate strategy; (b) consult with the Debtors to discuss the Debtors' goals, objectives, and financial parameters in relation to the Leases; (c) provide ongoing advice and guidance related to individual financial and non-financial lease restructuring opportunities; (d) negotiate with the Landlords on behalf of the Debtors to obtain lease modifications acceptable to the Debtors; (e) negotiate with the Landlords on behalf of the Company to obtain Early Termination Rights acceptable to the Debtors; (f) if requested by the Debtors, market the Leases in a manner and form as determined by A&G and approved by the Debtors, and negotiate with the landlords and other third parties on behalf of the Debtors to assist the Debtors in obtaining Lease Sales acceptable to the Debtors; (g) if requested by the Debtors, negotiate with Landlords on behalf of the Debtors to assist the Debtors in obtaining Landlord Consents acceptable to the Debtors in their sole discretion; (h) prepare a "desk top" valuation of some or all of the Leases, to the extent requested by the Debtors; and (i) provide regular update reports to the Debtors regarding the status of the Services. A&G shall receive a security retainer in the amount of $100,000. The proposed compensation arrangement includes fees for lease modifications, lease extensions, new options, early termination rights, lease sales, landlord consents, and desk top valuations. A&G shall also seek reimbursement for reasonable out-of-pocket expenses incurred in connection with its retention and provision of the Services. A&G Realty Partners, LLC believes it is a "disinterested person" as defined by section 101(14) of the Bankruptcy Code. The firm can be reached at: A&G Realty Partners, LLC Headquarters: 445 Broadhollow Road, Suite 410 Melville, NY 11747 Telephone: (631) 420-0044 Facsimile: (631) 420-4499 About Sleep Number Corp. Sleep Number Corporation, formerly Select Comfort Corporation, is a Minneapolis, Minnesota-based company founded in 1987. The company offers mattresses and bases, including smart mattresses with adjustable firmness, digital sensing, automatic comfort adjustments, and temperature-control features. Sleep Number uses a direct-to-consumer distribution model through Sleep Number stores and online retail touchpoints, and provides home delivery and professional set-up services. The company operates 572 stores in 50 U.S. states and employs approximately 2,920 employees. Sleep Number Corporation sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-11399) on June 12, 2026. In its petition, the Debtor reports total assets of approximately $642.32 million and total debts of approximately $1.28 billion as of April 30, 2026. The Honorable Bankruptcy Judge Kyu Young Paek handles the case. Davis Polk & Wardwell LLP is serving as Sleep Number's legal advisor in the restructuring. The company also retained Guggenheim Securities, LLC as investment banker, A&G Real Estate Partners as real estate advisors, and Kroll Restructuring Administration LLC as claims, noticing, solicitation, and administrative agent. SPANISH BROADCASTING: Court Confirms Joint Prepack Chapter 11 Plan ------------------------------------------------------------------ Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the District of Delaware approved the Disclosure Statement and confirmed the Joint Pre-Packaged Chapter 11 Plan of Reorganization of Spanish Broadcasting System, Inc. and Its Debtor Affiliates. The Disclosure Statement is approved as having adequate information as contemplated by section 1125(a)(1) of the Bankruptcy Code. Claims in Class 2 (Existing Notes Claims) are Impaired, and the holders thereof have accepted the Plan in accordance with section 1126(c) of the Bankruptcy Code. However, Class 5 (Intercompany Claims) (in the event that Intercompany Claims are not reinstated), Class 6 (Intercompany Interests) (in the event that Intercompany Interests are not reinstated), Class 7 (Issuer Preferred Equity Interests), Class 8 (Issuer Common Equity Interests), and Class 9 (Section 510(b) Claims against Issuer) (collectively, the "Rejecting Classes") are Impaired, and the holders of Claims or Interests in such Classes are conclusively presumed to have rejected the Plan pursuant to section 1126(g) of the Bankruptcy Code. Thus, the Plan does not satisfy section 1129(a)(8) of the Bankruptcy Code. Nevertheless, the Plan is still confirmable because it satisfies section 1129(b) of the Bankruptcy Code. The Court finds: (i) The New Secured Notes, New Superpriority Secured Notes (A) are an essential element of the Plan, and (B) are in the best interests of the Debtors, their Estates, and their stakeholders. (ii) The terms and conditions of the New Secured Notes Documents and New Superpriority Secured Notes Documents: (A) have been negotiated in good faith and at arm's-length, without the intent to hinder, delay, or defraud any of the Debtors' creditors; (B) are fair and reasonable; (C) represent a valid exercise of the Debtors' business judgment consistent with their fiduciary duties; (D) are supported by reasonably equivalent value and fair consideration; and (E) are in the best interests of the Debtors, their Estates, and their stakeholders. The availability of the financing provided by the New Secured Notes and New Superpriority Secured Notes is necessary to the consummation of the Plan and the operation of the Reorganized Debtors. (iii) The guaranties, pledges, Liens, and security interests granted in connection with the New Secured Notes Documents and New Superpriority Secured Notes are being granted in good faith as an inducement to the New Secured Noteholders and New Superpriority Secured Noteholders to extend credit. The Court finds: (i) The issuance of the New Common Stock: (A) is an essential element of the Plan, and (B) is in the best interests of the Debtors, their Estates, and their stakeholders. (ii) The terms and conditions of the New Corporate Governance Documents: (A) have been negotiated in good faith and at arm's-length, without the intent to hinder, delay, or defraud any of the Debtors' creditors; (B) are fair and reasonable; (C) represent a valid exercise of the Debtors' business judgment; (D) are supported by reasonably equivalent value and fair consideration; and (E) are in the best interests of the Debtors, their Estates, and their stakeholders. The Plan is approved in its entirety and confirmed pursuant to section 1129 of the Bankruptcy Code. Any objections to the adequacy of the Disclosure Statement, the confirmation of the Plan, and the assumption or rejection of the Executory Contracts and/or Unexpired Leases have been settled, withdrawn, resolved, or overruled and denied on the merits by this Court. As shared by the Troubled Company Reporter, InsideRadio reported that the plan eliminates approximately $240 million in debt and hands ownership of the reorganized broadcaster to its creditors, primarily senior noteholders, once all closing conditions are met. The confirmation followed revisions addressing concerns raised by the U.S. government and digital royalty collector SoundExchange. SBS agreed to language reaffirming the FCC's exclusive authority over broadcast license transfers and preserving government rights to collect tax obligations. As a result, the government withdrew its objection, leaving SoundExchange's royalty dispute as the primary contested issue during the hearing, the report said. SoundExchange maintained that an audit identified roughly $1.37 million in unpaid royalties, late fees and audit costs covering 2020 through 2022, while arguing that its claims should not be treated as unimpaired. SBS countered that it intends to satisfy any valid obligations and emphasized that confirmation would not impair SoundExchange's ability to pursue future litigation over royalty payments, according to the report. Despite securing confirmation, SBS acknowledged it will remain in Chapter 11 until it receives FCC approval, a process the company expects could take several weeks or months. In the meantime, the broadcaster will continue operating under its existing debtor-in-possession financing, explore the sale of a significant non-core real estate asset, and implement a restructuring that includes new secured notes and an equity-based management incentive program. A copy of the Court's Findings of Fact, Conclusions of Law, and Order dated July 1, 2026, is available at https://urlcurt.com/u?l=C39J0S from PacerMonitor.com. About Spanish Broadcasting System Spanish Broadcasting System Inc. operates Spanish-language radio stations and media properties serving Hispanic communities across the U.S. and Puerto Rico. The company's business includes radio broadcasting, digital advertising, music programming and live entertainment initiatives. Through its portfolio of stations and online brands, the company delivers music, news, talk and cultural programming tailored to Latino listeners. Spanish Broadcasting System and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 26-10708) on May 11, 2026. In its petition, Spanish Broadcasting System disclosed estimated assets and liabilities between $100 million and $500 million each. The case is jointly administered in Case No. 26-10708. Bankruptcy Judge Brendan Linehan Shannon handles the case. The Debtors are represented by Robert J. Dehney, of Morris, Nichols, Arsht & Tunnell. Fried, Frank, Harris, Shriver & Jacobson LLP was retained as general bankruptcy counsel, while GLC Advisors & Company is serving as investment banker. Financial advisory and chief restructuring officer duties are being handled by Riveron Management Services LLC and Jesse York, and Kroll Restructuring Administration LLC is serving as claims agent and administrative advisor. SPORTSCAPERS CONSTRUCTION: Voluntary Chapter 11 Case Summary ------------------------------------------------------------ Debtor: Sportscapers Construction Inc 1614 Center St Houston, TX 77007-7743 Business Description: Sportscapers Construction Inc. is a Houston, Texas-based athletic facility design and construction firm founded in 1997. The company designs and builds sports and recreational facilities for residential and commercial clients, including court facilities, athletic fields, batting cages, gym flooring, putting greens, and related site-preparation, surfacing, lighting, and landscaping work. It serves customer groups including homeowners, schools, HOAs, developers, parks and recreation departments, and apartments. Chapter 11 Petition Date: June 30, 2026 Court: United States Bankruptcy Court Southern District of Texas Case No.: 26-34660 Judge: Hon. Jeffrey P Norman Debtor's Counsel: Jeremy Wood, Esq. LAW OFFICE OF JEREMY T. WOOD, PLLC 2950 N Loop West, Suite 500 Houston TX 77092 Tel: (713) 366-1288 E-mail: jeremy@jeremywoodlaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Rob Thompson as president. 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/V4H2MAI/Sportscapers_Construction_Inc__txsbke-26-34660__0001.0.pdf?mcid=tGE4TAMA STROMA MEDICAL: Taps SC&H Group Inc. as Financial Advisor --------------------------------------------------------- Stroma Medical Corporation seeks approval from the U.S. Bankruptcy Court for the District of Delaware to hire SC&H Group, Inc. to serve as financial advisor. The firm will provide these services: (a) assisting with preparation and filing of the Liquidation Analysis for the Plan of Reorganization; (b) assisting with preparation and filing of required forecasts and free cashflow analysis for the Plan of Reorganization; (c) providing testimony related to the items above at the Plan Confirmation hearing; and (d) providing such other financial advisory services as may be mutually agreed to from time to time between the Debtor and SC&H. Stan Mastil, CPA will receive an hourly rate of $650. Other SC&H professionals will render services as needed, with hourly rates ranging from $525-$700 for Managing Director/Principal, $375-$500 for Senior Manager/Manager, and $300-$350 for Senior/Staff. SC&H is a "disinterested person" as defined in Section 101(14) of the Bankruptcy Code and does not hold or represent any interest adverse to the Debtor's estate, according to court filings. The firm can be reached at: Stan Mastil, CPA SC&H GROUP, INC. 910 Ridgebrook Road Sparks, MD 21152 Telephone: (410) 403-1500 About Stroma Medical Corporation Stroma Medical Corporation, based in Irvine, California, is a clinical-stage medical device company that has developed the Stroma Laser System, a patented, non-invasive laser technology designed to change eye color from brown, hazel, or black to amber, hazel, grey/blue, blue, or green. The procedure is performed in a doctor's office using only a topical anesthetic, requires minimal recovery time, and takes less than a minute per eye. Stroma markets its system for lease to refractive surgeons worldwide and targets the unmet global demand for permanent eye-color change among consumers seeking a safe and natural-looking result. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-12169) on Dec. 8, 2025, with $1 million to $10 million in assets and liabilities. Gregg Homer, executive chairman, signed the petition. Judge J. Kate Stickles oversees the case. The Debtor tapped Jamie Lynne Edmonson, Esq., at Robinson & Cole LLP as bankruptcy counsel and Ericka F. Johnson, Esq., at Bayard, PA as conflicts counsel. STUDENT TRANSPORTATION: S&P Assigns 'B+' Rating on Term Loan B -------------------------------------------------------------- S&P Global Ratings assigned its 'B+' issue-level rating to Student Transportation of America Holdings Inc.'s (STA's) $1,067 million term loan B maturing in 2032. The facility replaces its existing term loan B and adds $200 million to the facility size. S&P's other ratings are unchanged following the company's announcement that it is in exclusive talks to acquire a company that provides student transportation for special needs students in Illinois and Connecticut using additional proceeds. The acquisition is consistent with its expectation for the company to expand into higher-margin special-needs transportation services. S&P said, "Following the transaction, leverage will rise modestly to the low-5x area, which is high for our rating. However, we view this increase as temporary and expect credit metrics to return to levels appropriate for the rating in fiscal 2027 (ending June 30, 2027), with adjusted debt to EBITDA trending below 5x and funds from operations (FFO) to debt returning to mid-teens percentage. "Our estimates incorporate steady earnings growth and incremental positive free cash flow of about $15 million annually from the acquisition. Consequently, there is limited capacity for STA to complete additional debt-funded acquisitions before deleveraging in fiscal 2027. "Our 'B+' issue-level rating and '3' recovery rating on the term loan are also unchanged. The '3' recovery rating indicates our expectation for meaningful (50%-70%; rounded estimate: 50%) recovery in the event of a payment default. We do not rate the delayed-draw term loan." Issue Ratings--Recovery Analysis Key analytical factors -- STA's proposed capital structure consists of $200 million of a revolving credit facility due in 2030 (undrawn), a $75 million delayed-draw term loan due in 2032 (fully drawn), a $50 million securitization facility due in 2029 (undrawn), and a $992 million first-lien term loan due in 2032. -- S&P's simulated default in 2030 contemplates a prolonged decline in the demand for the company's services because of intensifying competition that leads to STA losing several customers and significant pricing pressure. Combined with elevated labor expenses, this hurts its profitability. -- If the borrower defaults, a viable business model would remain, supported by STA's market position, brand, and customer relationships. Therefore, S&P believes its lenders would achieve the greatest recovery through a reorganization rather than a liquidation. -- S&P said, "We use an enterprise value methodology to evaluate its recovery prospects. We value the company on a going-concern basis using a 5x multiple of our projected EBITDA at default, which is consistent with the multiple we use for similar companies." Simulated default assumptions -- Simulated year of default: 2030 -- Jurisdiction: U.S. -- Emergence EBITDA: about $146 million -- Multiple: 5.0x Simplified waterfall -- Net enterprise value (after 5% administrative costs): about $693 million -- Collateral value available to secured debt: about $641 million -- Total first-lien debt: about $1.24 billion --Recovery expectations: 50%-70% (rounded estimate: 50%) SYN-LT BUYER: Seeks Chapter 11 Bankruptcy in Texas -------------------------------------------------- On July 2, 2026, Syn-LT Buyer Co., Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas. According to court filings, the Debtor reports between $50 million and $100 million in debt owed to 1-49 creditors. About Syn-LT Buyer Co., Inc. Syn-LT Buyer Co., Inc. is a Houston, Texas-based men's health and hormone therapy clinic management company operating within the SynergenX Legacy Holdings corporate group. The company manages clinics specializing in hormone replacement therapy and medical weight loss and employed approximately 199 workers as of June 2026. Its operations expanded significantly following the 2022 acquisition of Low T Center, which added a network of 64 clinics. Syn-LT Buyer Co., Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-90677) on July 2, 2026. In its petition, the Debtor reports estimated assets of $100 million to $500 million and estimated liabilities of $50 million to $100 million. The Debtor is represented by Frank J. Wright, Esq. of Law Offices of Frank J. Wright, PLLC. TAEHYUN HOLDINGS: Supplements DeKalb Property Sale -------------------------------------------------- Taehyun Holdings, LLC, seeks permission from the U.S. Bankruptcy Court for the District of Maryland, Baltimore Division, of a supplement to its motion to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor continues to seek approval of the Sale of its at 3289 Montreal Industrial Way, Tucker, DeKalb County, Georgia property to Titanic Furniture for $6,900,000 (subject to a $100,000 increase if closing occurs after July 15, 2026, and thus $7,000,000 given the August 6, 2026 sale hearing, with an outside closing date of August 17, 2026). The Supplement does not alter the purchase price, the Purchaser, or the free-and-clear nature of the transfer, and is not intended to delay the closing. The Debtor files the Supplement to clarify the distribution of the net proceeds and to reserve its rights. Because the amount, extent, and allocation of the claims of ARBA Credit Investors III, L.P. (ARBA) against the Property are disputed and the subject of a pending objection, the Debtor proposes that the net proceeds be distributed to ARBA at closing on account of its liens, without prejudice to, and without constituting allowance of, the disputed components or the pending objection, and subject to the Debtor’s reserved right to seek disgorgement of any amount later determined not to have been properly allowable. The Debtor reaffirms its request that the Sale be approved on the terms set forth in the Sale Motion. The relief in this Supplement is fully compatible with prompt approval and closing of the Sale and concerns only the treatment of a disputed portion of the proceeds. The Sale is being conducted by the Debtor and its retained professionals to liquidate the Property, which secures ARBA's claims, and the resulting proceeds are payable in the first instance to ARBA. About Taehyun Holdings, LLC Taehyun Holdings, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Md. Case No. 25-21244) on December 1, 2025. At the time of the filing, the Debtor's estimated assets and liabilities were not provided in the filing. Honorable Judge Michelle M. Harner oversees the case. Weon G. Kim Law Office is the Debtor's legal counsel. TALOS PRODUCTION: Moody's Rates New Secured Second Lien Notes 'B3' ------------------------------------------------------------------ Moody's Ratings assigned B3 ratings to Talos Production Inc.'s (Talos) proposed senior secured second-lien notes due 2034, which will be issued to retire the company's 2029 notes and partially fund the acquisition from Shell of non-operated interests in the Na Kika complex and operated interests in the Coulomb field. Talos' existing ratings, including its B2 Corporate Family Rating and B3 ratings assigned to its outstanding second-lien notes, are unchanged. The outlook remains stable. "The new notes will extend Talos' debt maturities and partially fund the recently announced acquisition," said Giancarlo Rubio, a Moody's Ratings Vice President. RATINGS RATIONALE Talos' new and existing second lien notes are rated B3, one notch below the B2 CFR, reflecting its subordination to Talos' bank revolver facility, which is secured by mortgages on at least 85% all company's proved oil and gas assets. Talos' proposed acquisition of Shell's interests in the Na Kika complex and Coulomb field enhances its credit profile by increasing its oil production base with funding that keeps the transaction largely leverage neutral. The Na Kika and Coulomb fields, located in the Gulf of America, are expected to add around 16 Mboe/d ( 78% oil), supporting company's total production above 100 Mboe/d in 2027. The transaction is expected to boost EBITDA margins Upon closing, Talos expects to operate the Coulomb field, which limits the execution risk of the acquisition; the Na Kika complex will remain operated an investment grade producer . Proforma for the transaction, Moody's expects debt to EBITDA to remain around 1.3x over the next 18 months using Moody's base case Brent oil price assumptions of $75/bbl in 2H26 and $65/bbl in 2027. Talos' B2 CFR reflects its production scale, projected positive free cash flow generation and manageable financial leverage. The ratings are constrained by the company's concentration in offshore production, as well as its sizable asset retirement obligations. Talos has largely relied on acquisitions to replace proved developed reserves. The stable outlook reflects Moody's expectations that Talos will be able to maintain production scale and reinvest profitably in reserve replacement. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if the company diversifies and grows production, proved developed reserves and cash flow at competitive returns on investment, retained cash flow (RCF) to debt ratio is sustained above 50%, and its leveraged full cycle ratio (LFCR) comfortably exceeds 1x. The ratings could be downgraded if production meaningfully declines, RCF to debt falls below 25%, capital spending or acquisitions materially increase leverage, capital productivity declines significantly, or liquidity deteriorates. Talos Production Inc. is an exploration & production (E&P) company whose assets are primarily located on the continental shelf and deepwater areas in the US Gulf. Talos' average daily production for the last twelve months ended March 31, 2026 was 91.6 Mboe/d (70% oil). The principal methodology used in these ratings was Independent Exploration and Production published in February 2026. TAMBURO LTD: Gets Final OK to Use Cash Collateral ------------------------------------------------- The U.S. Bankruptcy Court for the Western District of Pennsylvania entered a final order authorizing Tamburo Ltd. to use cash collateral. Under the final order, the Debtor is permitted to use cash collateral to fund its operations based on a court-approved budget, which projects total operational expenses of $17,282.73. The Debtor is required to operate within 10% of the budget unless the court orders otherwise. Any creditor holding a pre-petition security interest in cash collateral, including The Huntington National Bank and the U.S. Small Business Administration, will retain its liens after the bankruptcy filing. However, those liens are limited to the value of the creditor's pre-petition collateral as of the petition date. The court will grant replacement liens only to the extent necessary to compensate for any post-petition decline in the value of the lenders' collateral, excluding Chapter 5 avoidance actions and any recoveries under Section 506(c) of the Bankruptcy Code. Additional safeguards include regular financial reporting and access to business records and premises. The Debtor is prohibited from incurring post-petition debt that it cannot repay or obtaining additional post-petition financing without prior court approval. The order is available at http://bankrupt.com/misc/TamburoLtd_FCCOrder49.pdf Two active UCC financing statements encumber the Debtor's assets and may create security interests in the cash collateral. The first, filed by The Huntington National Bank in December 2018 and continued in July 2023, appears to grant Huntington a first-priority blanket lien on substantially all assets. The Debtor estimates approximately $24,701 remains outstanding under the secured loan. The second financing statement was filed by the SBA in September 2021 and continued in April 2026. The SBA also asserts a blanket lien on substantially all of the Debtor's assets. The Debtor estimates approximately $500,000 remains outstanding under two separate loan obligations. About Tamburo Ltd. Tamburo Ltd. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Pa. Case No. 26-21317) on May 8, 2026, listing up to $1 million in assets and up to $500,000 in liabilities. Joseph Tamburo, president of Tamburo, signed the petition. Judge John C. Melaragno oversees the case. Christopher M. Frye, Esq., at Steidl & Steinberg, P.C., represents the Debtor as legal counsel. TEXAS AUTO: Seeks to Approval to Tap JMS CPAs PLLC as Accountant ---------------------------------------------------------------- Texas Auto Save, LLC and affiliate seek approval from the U.S. Bankruptcy Court for the Western District of Texas to employ JMS CPAs, PLLC as accountant. The firm will assist the Debtors with providing accounting services and related consulting services in relation to the Chapter 11 bankruptcy proceedings. The firm will be paid in the amount of $2,000 as a one-time onboarding fee. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Juan Sanchez disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Juan Sanchez JMS CPAs, PLLC 282 W Wildwood Dr San Antonio, TX 78212 Telephone: (210) 526-9747 About Texas Auto Save LLC Texas Auto Save LLC is a used car dealership based in San Antonio, Texas. The company sells pre-owned vehicles and provides buy-here-pay-here and in-house financing, along with extended warranty options. It also offers online inventory access, quote requests, test drive scheduling, and financing pre-approval applications, serving customers in San Antonio and nearby Texas communities. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-51089) on April 25, 2026. In the petition signed by Alex Sinno, managing member, the Debtor disclosed $2,122,888 in total assets and $13,800,382 in total liabilities. Judge Aubrey L Thomas oversees the case. Ronald Smeberg, Esq., at THE SMEBERG LAW FIRM, represents the Debtor as legal counsel. TOP QUALITY: Seeks to Hire Engelman Berger P.C. as Counsel ---------------------------------------------------------- Top Quality Lawn and Grounds Service LLC seeks approval from the U.S. Bankruptcy Court for the District of Arizona to employ Engelman Berger, P.C. as counsel. The firm's services include: a. advising the Debtor with respect to its powers and duties as debtor-in possession in the continued management and operation of its business and property; b. representing Debtor at the initial meeting of creditors under 11 U.S.C. § 341, the initial debtor interview, and all Court hearings, adversary proceedings or contested matters that have been or may be filed herein; c. attending meetings and negotiating with representatives of creditors and other parties-in-interest and advising and consulting on the conduct of this bankruptcy case, including all of the legal and administrative requirements of operating in Chapter 11; d. assisting Debtor with the preparation of its Schedules of Assets and Liabilities and Statement of Financial Affairs; e. advising Debtor with respect to any contemplated sales or acquisitions of assets and/or business combinations, formulating and implementing appropriate closing procedures for such transactions, and preparing and prosecuting all motions and/or pleadings necessary to obtain the Court's authorization for such transactions; f. advising Debtor with respect to any post-petition financing and cash collateral arrangements; negotiating, drafting and prosecuting all documents, motions and pleadings relating thereto; g. advising Debtor on all matters relating to the assumption, rejection or assignment of unexpired leases and executory contracts; h. advising Debtor with respect to legal issues arising in or relating to the Debtor's ordinary course of business, including attending meetings of management, financial and turnaround advisors, accounting firms, special counsel, and other professionals employed by Debtor; i. taking all necessary action to protect and preserve the Debtor's estate, including the prosecution of actions on Debtor's behalf, the defense of any actions commenced against Debtor, objecting to claims filed against the Debtor's estate, and negotiating and effecting settlements of the same; j. preparing, negotiating and taking all actions necessary to obtain confirmation of a plan of reorganization and related agreements and documents; and k. performing all other legal services relating to the administration and conduct of the Debtor's estate in its efforts to reorganize. The firm will be paid at these rates: Bradley D. Pack $635 per hour Michael P. Rolland $525 per hour Other EB Shareholders $525 to $850 per hour EB Associates $300 to $395 per hour EB Paralegals $200 to $290 per hour Shareholders $525 to $850 per hour Associates $295 to $395 per hour Legal Assistants $200 to $290 per hour The firm will be paid a retainer in the amount of $65,000. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Rolland disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Michael P. Rolland, Esq. Engelman Berger, P.C. 2800 North Central Avenue, Suite 1200 Phoenix, AZ 85004 Tel: (602) 271-9090 Fax: (602) 222-4999 About Top Quality Lawn and Grounds Service LLC Top Quality Lawn and Grounds Service LLC filed a Chapter 11 bankruptcy petition (Bankr. D. Ariz. Case No. 26-02613-5-JNC) on June 9, 2026. The Debtor hires Engelman Berger, P.C. as counsel. TOPBUILD CORP: S&P Lowers ICR to 'BB-' on Acquisition by QXO Inc ---------------------------------------------------------------- S&P Global Ratings lowered its issuer credit rating on building products distributor TopBuild Corp. to 'BB-' from 'BB+' and removed it from CreditWatch. S&P subsequently withdrew all its ratings on TopBuild and its debt since all the company's previously outstanding debt was repaid in full. On July 1, 2026, building products distributor TopBuild Corp. closed on its previously announced sale of the company to QXO Inc. (BB-/Stable/--). S&P said, "We assess TopBuild's group status as core to QXO. We believe TopBuild is integral to QXO's current identity and strategy to consolidate the building materials distribution industry. As such, we expect QXO will support this entity under any foreseeable circumstances. TopBuild's brands will assume the QXO Building Products name, reinforcing our view that it is core to the group. Consequently, we lowered our issuer credit rating on TopBuild to 'BB-' to align with our rating on QXO. "Subsequently, we withdrew our rating on TopBuild and discontinued our issue-level ratings on its debt because it was repaid in full." TRAYJOCKEY ENTERPRISES: Gets Final OK to Use Cash Collateral ------------------------------------------------------------ The U.S. Bankruptcy Court for the District of Maine entered a final order authorizing TrayJockey Enterprises, Inc. to use cash collateral through Sept. 12, in accordance with the approved final budget. If additional use of cash collateral is needed beyond that date, the Debtor must file a revised cash plan by Sept. 3, covering up to an additional 13-week period or a shorter period through plan confirmation. If the Debtor and secured lender Kennebunk Savings Bank cannot agree on the continued use of cash collateral, the court will hold a hearing on Sept. 10. As adequate protection, Kennebunk's pre-petition liens will continue to attach to post-petition cash collateral under Section 552(b) of the Bankruptcy Code. The court also granted the lender automatically perfected replacement liens on all of the Debtor's post-petition assets, excluding avoidance actions, to the extent of any diminution in the value of its collateral. In addition, the lender will receive monthly payments of $5,293 as provided in the budget. Events of default include material breaches of the order, intentional misrepresentations in financial reporting, dismissal or conversion of the Chapter 11 case, modification of the order that materially affects the lender's rights, or failure to file a Chapter 11 plan within 90 days of the petition date proposing the agreed repayment terms. If a default occurs and is not cured within five business days after the lender files a notice of default, the Debtor's authority to use cash collateral automatically terminates unless the court grants further relief. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/rx1GU from PacerMonitor.com. Kennebunk, as lender, is represented by: Kellie W. Fisher, Esq. DRUMMOND WOODSUM 84 Marginal Way, Suite 600 Portland, ME 04101-2480 Telephone: (207) 772-1941 kfisher@dwmlaw.com About TrayJockey Enterprises Inc. TrayJockey Enterprises Inc. operates a diner, gift shop, and motel. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Me. Case No. 26-20150) on June 3, 2026. In the petition signed by James C. MacNeill, shareholder, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Judge Michael A. Fagone oversees the case. Tanya Sambatakos, Esq., at Molleur Law Office, represents the Debtor as bankruptcy counsel. TRINITY INDUSTRIES: Fitch Affirms 'BB' LongTerm IDR, Outlook Stable ------------------------------------------------------------------- Fitch Ratings has affirmed Trinity Industries Inc.'s (Trinity) Long-Term Issuer Default Rating (IDR), senior unsecured notes and revolving credit facility at 'BB'. The Rating Outlook is Stable. Key Rating Drivers Solid Franchise: The ratings affirmation reflects Trinity's solid franchise as a leading provider of railcar products and services in North America, its diversified fleet, strong asset quality performance, strong residual value management, consistent cash flow generation, adequate liquidity and experienced management team. Trinity's leasing business, Trinity Industries Leasing Company (TILC), completed railcar partnership restructurings in December 2025 and April 2026, exchanging its partial ownership of railcars through joint venture interest for full ownership through a wholly owned subsidiary. Fitch does not anticipate these transactions will have a material impact on Trinity's overall business or franchise. Cyclicality of Railcar Industry: Trinity's ratings are constrained by the cyclicality of railcar manufacturing and railcar leasing businesses, its reliance on secured, short-term, wholesale funding sources, and its modestly elevated leverage. Rating constraints applicable to the broader railcar leasing industry include the competitive operating environment and the risks associated with tariffs, including higher input costs and/or supply chain disruptions. The potential impact from federal, state, local, and foreign environmental regulations on railcars, particularly tank cars, could also heighten residual value risk and maintenance expenses. Synergies Between Manufacturing and Leasing: Trinity's leasing business, TILC, contributes the majority of the company's consolidated pretax earnings. Leasing helps to balance the more pronounced cyclicality of the railcar manufacturing operations. TILC generates substantial railcar orders for Trinity as it obtains lease commitments from its customers. Trinity's leasing portfolio is diversified across railcar types, commodities carried, and customers serviced. In North America, Trinity served over 750 customers, transporting 900 different commodities with approximately 270 railcar types in 2025. Strong Asset Quality: Trinity's asset quality remains strong with continued residual value gains driven by higher margin railcars sold and favorable market pricing conditions, as well as the company's conservative depreciation policy and the long economic life of its assets. In 1Q26, Trinity recognized $5.6 million of annualized credit losses, which represented 1.7% of gross receivables compared to an average of 1.3% from 2022-2025. Asset quality metrics have been relatively stable over time, and Fitch believes the company will maintain low write-offs given its ability to remarket railcars within the fleet and the minimal credit losses within the receivables portfolio. Improved Operating Performance: Operating performance for the trailing 12 months (TTM) ended March 31, 2026, benefited from higher lease rates and increased gains on lease portfolio sales in the leasing business, as well as lower expenses. These improvements were partially offset by lower external deliveries in the manufacturing segment and increased maintenance and compliance costs. Consolidated pretax return on average assets (ROAA) was 4.4% for TTM 1Q26, up from 2.4% a year ago and the four-year average of 2.5% for 2022-2025. Fitch expects operating performance to normalize to historical averages as the manufacturing segment remains under pressure, which Fitch expects to be counterbalanced by strength in the leasing business. Elevated Leverage: Consolidated leverage (gross debt to tangible equity) was 6.0x at 1Q26, up from 5.3x one year ago, following a railcar partnership restructuring in December 2025. Fitch views high leverage in the leasing business as somewhat mitigated by lower debt-to-EBITDA in the manufacturing business, reflecting its limited balance sheet usage. Fitch expects leverage to remain elevated relative to peers. Predominately Secured Funding: Secured funding represented approximately 88.9% of total funding at 1Q26 and primarily comprised nonrecourse warehouse facilities, secured term loans and equipment notes secured by railcars issued by the leasing operations. Fitch believes Trinity's secured funding is high relative to more highly rated finance and leasing companies. Fitch would view an increase in unsecured funding favorably as it would improve the firm's overall funding flexibility. Stable Outlook: The Stable Outlook reflects Fitch's expectation that Trinity will continue to generate stable operating performance, maintain strong asset quality, preserve adequate liquidity and maintain leverage near current levels. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - A material and sustained increase in leverage above 6.0x; - Weakening of the liquidity profile; - A sustained deterioration in pre-tax ROAA or consistency of operating earnings; - A reduction in the diversity and/or credit quality of its customers; - A material and persistent reduction in fleet utilization; - An increase in impairments. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - A reduction in consolidated leverage approaching 4.0x; - An increase in unsecured funding approaching 25% of total debt; - Enhanced earnings consistency and ROAA sustained above 2.5%. DEBT AND OTHER INSTRUMENT RATINGS: KEY RATING DRIVERS Trinity's unsecured debt rating is equalized with the Long-Term IDR, reflecting expectations for average recovery prospects under a stress scenario. DEBT AND OTHER INSTRUMENT RATINGS: RATING SENSITIVITIES The unsecured debt rating is equalized to Trinity's Long-Term IDR and is expected to move in tandem with it. However, unsecured funding below 10% and/or material reduction in unencumbered assets could result in the widening of the notching between Trinity's Long-term IDR and unsecured notes. ADJUSTMENTS The Standalone Credit Profile (SCP) has been assigned below the implied SCP due to the following adjustment reason(s): Weakest Link - Funding, Liquidity & Coverage (negative). The Sector Risk Operating Environment score has been assigned below the implied score due to the following adjustment reason(s): Regional, industry or sub-sector focus (negative). The Business Profile score has been assigned below the implied score due to the following adjustment reason(s): Business model (negative). The Asset Quality score has been assigned below the implied score due to the following adjustment reason(s): Risk profile and business model (negative). The Funding, Liquidity & Coverage score has been assigned below the implied score due to the following adjustment reason(s): Funding Flexibility (negative). ESG Considerations Trinity has an GHG Emissions & Air Quality, Energy Management, Water & Wastewater Management, and Waste &Hazardous Materials Management; Ecological Impacts scores of '3', '3', '2', and '3', which differs from broader financial institution peer scores of '2', '2', '1' and '1', respectively. This reflects Trinity's differentiated exposure to environmental impacts in its manufacturing business but does not have a material impact on its rating. Trinity also has a Labor Relations & Practices score of '3', which differ from the broader financial institution peer scores of '2', reflecting product safety and the impact of labor on its manufacturing business, but does not have a material impact on its rating. The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Prior ----------- ------ ----- Trinity Industries Inc. LT IDR BB Affirmed BB senior unsecured LT BB Affirmed BB TRUMBULL LLC: S&P Assigns 'BB-' Rating on $625MM Sr. Secured Debt ----------------------------------------------------------------- S&P Global Ratings assigned its 'BB-' rating and '2' recovery rating to Clean Energy Future - Trumbull LLC's (Trumbull) $625 million senior secured term loan B (TLB). Trumbull has reached commercial operation on April 15, 2026 and have been operating in full 2x1 configuration, providing a comfortable runway to meet its first 2026 debt-service payment in December. Over the next five years, S&P expects capacity factors to ramp from 60%–70% in the first three years to about 75%. Trumbull used the proceeds from the six-year $200 million term loan A (TLA; not rated), seven-year $625 million TLB, $30 million revolving credit facility (RCF; not rated), and $45 million of letter of credit facilities (LOC; not rated) to repay existing debt, fund operation and liquidity reserves, and pay transaction fees, with no distribution to sponsors. S&P said, "Based on our view of industry factors and market-driven variables--such as power demand, the pace and magnitude of the retirement of uneconomical units, and commodity and capacity pricing--we forecast a minimum debt service coverage ratio (DSCR) of 1.53x and a median DSCR of 1.54x for Trumbull during its asset life to 2048. "The '2' recovery rating indicates our expectation for substantial (70%-90%; rounded estimate: 70%) recovery in a default scenario. "The stable outlook reflects our expectation of a five-year ramp-up period from a 60% capacity factor to above 70% as well as spark spreads in the high-teens per megawatt-hours over the coming year that leave the revenue put mostly out-of-money. Based on these assumptions, we project a total TLB balance of about $400 million at maturity in 2033." Trumbull owns a 940-megawatt (MW) natural gas-fired combined cycle power generation (CCGT) facility in Lordstown, Ohio, which is within the PJM ATSI Zone, the newest baseload CCGT in PJM. It reached substantial completion in December 2025 and commercial operation in April 2026. The facility uses best-in-class Siemens Energy H-Class technology, enabling it to achieve what is expected to be one of the lowest heat rates in PJM. The asset is sponsored by Korea Southern Power Co. (KOSPO; 56.23%), Siemens Energy (SE; 26.99%), and Korea Overseas Infrastructure and Urban Development Corp. (KIND; 16.78%). SE also provides long-term operation and maintenance service to the project. Firm gas transportation and interconnect are contracted with Enbridge via Tennessee Gas Pipeline Zone 4 (TGP Z4), and energy management is contracted with NextEra Energy. The higher-than-peer leverage is anchored by a five-year revenue put that establishes a net energy margin floor. Trumbull used the proceeds from the six-year $200 million TLA (not rated) and seven-year $625 million TLB (rated) to repay existing debt, fund operation and liquidity reserves, and pay transaction fees, with no distribution to the sponsors. Both the TLA and TLB are subject to 1% amortization and a favorable cash-sweep mechanism of 75% if leverage is above 4.0x, 50% if leverage is 4.0x-2.5x, and 25% if it's below 2.5x. The TLA's price of SOFR plus 2.50% is lower than TLB's SOFR plus 3.00%, and it will receive all the sweeps until its full repayment before TLB can receive any sweeps. S&P forecasts the TLA will be fully repaid by December 2029 under 75% sweeps with no refinancing risk, and hence it views the structure as credit neutral. While the project's leverage of $878/kW well exceeds PJM peers', the debt profile is supported by a five-year revenue put with BP. This agreement establishes a $22.5 million quarterly strike price on net energy margins (subject to true-up), providing a structural floor that complements current capacity market tailwinds. Although the strike is projected to remain out-of-the-money under base-case assumptions, the downside protection remains a meaningful cash-flow profile enhancement. As the newest CCGT in PJM, Trumbull hasn't yet established an operational track record. CCGTs in their ramp-up phase are more susceptible to mechanical issue discovery and asset-specific issues. Trumbull specifically needed to upgrade a City of Warren water filtration plant to enable its full 2x1 utilization. Trumbull achieved substantial completion in December 2025, and commercial operation began in April 2026. Construction of the water filtration plant was completed in mid-April, and Trumbull has been able to consistently run in a 2x1 operating configuration. Before April 2026, Trumbull operated on 1x1 configuration with a capacity factor around 40%. S&P said, "We expect the capacity factor to be 60%-70% during the first three years of ramp up and 75% within the first five years. This results in average asset life capacity factor of 65%, with an average spark spread of $14/MWh. We assume asset life to 2048, consistent with efficient CCGT peers in Ohio. "Should Trumbull experience unmitigated outage events during the ramp up phase, we will revisit our operations assumptions accordingly." The sponsors' and contractors' experience somewhat mitigate execution risks. All three sponsors have deep global expertise in developing and operating CCGTs like Trumbull, which is a positive factor in operation and financial management. SE, the technology and O&M provider, has material ownership in Trumbull. It also provides guarantees for scheduled outage durations and response times as well as the facility's maximum level of performance degradation. KOSPO and KIND combined own more than 14 GW of thermal power globally with substantial operational track records. At the same time, NextEra Energy Marketing and Enbridge provide energy marketing and firm fuel transportation for Trumbull. S&P believes the depth of experience partly mitigates operation risks. Trumbull is also building a liquidity cushion to mitigate operation risks. Debt amortization and sweeps will start in the fourth quarter of 2026, leaving ample room between commercial operation and debt servicing. For the first year after transaction closes, Trumbull will hold a liquidity reserve account for up to $30 million, and $11 million will be cash funded. A liquidity-holdback account of up to $10 million will be funded with operating cash during the debt tenor in addition to a six-month debt service reserve. In the scenario of unfavorable market conditions, the quarterly settlement from the revenue put will also provide some level of liquidity cushion. S&P views these liquidity-preservation measure as credit supportive for the ramp-up phase. Forecasted DSCRs are robust during the debt tenor, with a minimum DSCR of 1.53x in the post-refinancing period. S&P said, "Given the unique structure of the project, we separate our assessment into two phases: the term loan phase with revenue put in place and the post-refinancing phase. The DSCR is largely above 2.0x during the term loan phase, and the revenue put is rarely exercised. The project is more resilient in market downturns as a result of the liquidity-preservation measures and the five-year revenue put. We expect about $400 million of TLB outstanding at debt maturity." The minimum DSCR of 1.53x occurs in the post-refinancing phase, with a median DSCR of 1.54x. S&P said, "In this phase, we assume renewable power technology advancement and penetration will result in CCGTs acting as peaking facilities with a lower capacity factor. We also assume a fully amortizing debt structure from 2033 to 2048, though the sponsor could choose different refinancing alternatives." S&P said, "The stable outlook reflects our expectation Trumbull would generate at least a minimum DSCR of 1.53x through the project's life, which includes the post-refinancing period (2033-2048). Based on our review of the current market environment, we project a TLB balance of about $400 million at maturity in 2033. "We would take negative rating action if Trumbull were to experience unmitigated outage events during the ramp-up years or the project is unable to sustain a minimum DSCR of 1.35x." This could occur if: -- Unplanned outages significantly affect plant operations, quarterly revenue put settlements, and restrict the qualified capacity in the PJM capacity market; -- Higher-than-expected operating costs and major maintenance expenses lead to reduced cash flows; -- Economic factors cause the power plants to dispatch significantly less than S&P's base-case expectation; or -- Debt paydown is substantially lower than S&P expects, leading to a higher-than-expected debt balance at maturity. S&P said, "Although unlikely, we could raise the rating if we expect the project will maintain a minimum base-case DSCR above 1.80x in all years, including the post-refinancing period. We would also need to believe the issuer will adequately mitigate operational risks and achieve a sufficient performance track record." UMZU LLC: Court Extends Cash Collateral Access to July 31 --------------------------------------------------------- The United States Bankruptcy Court for the Central District of California, Los Angeles Division, entered an order extending UMZU, LLC's authority to use cash collateral on a final basis in its Chapter 11 case. The court modified its prior June 10 interim cash collateral order by authorizing the Debtor to use cash collateral on a final basis through July 31. The Debtor may use the funds solely to pay operating expenses identified in the approved budget attached as Exhibit A to the second supplement. Under the approved budget, UMZU, LLC is authorized to spend up to $2,559,022 through July 31, 2026. This total consists of the previously approved $876,133 together with an additional $1,682,889, reflecting the expanded authority granted by the court to support the Debtor's continued operations during the Chapter 11 proceedings. Except for extending the duration of the authorization and increasing the approved budget amount, all provisions of the court's June 10 cash collateral order remain in full force and effect. About UMZU LLC UMZU, LLC operates an e-commerce supplement business that sells products primarily through its website and Amazon. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 2:26-bk-14886) on May 18, 2026. In the petition signed by Michael Dobson, chief executive officer, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Sheri Bluebond oversees the case. Matthew D. Resnik, Esq., at RHM Law, LLP, represents the Debtor as legal counsel. USA CRICKET: Gets OK for Settlement Deal, Mutual Release, Financing ------------------------------------------------------------------- DreamCricket USA reports that a federal bankruptcy court in Colorado has approved a settlement between USA Cricket and American Cricket Enterprises (ACE), providing the financially distressed governing body with new funding intended to facilitate its emergence from Chapter 11 protection. The court authorized a package that includes $340,000 to pay outstanding administrative expenses, a $480,000 debtor financing facility to fund the bankruptcy case, and an exit financing arrangement of up to $316,250 for post-bankruptcy operations. As part of the agreement, USA Cricket will reinstate its previously executed commercial term sheet with ACE after meeting conditions imposed by the International Cricket Council for reinstatement. ACE, in turn, agreed to resume funding under that agreement once the ICC restores USA Cricket's membership. The settlement aims to stabilize the organization's finances after months of governance turmoil, legal disputes, and operational uncertainty. The bankruptcy stemmed from escalating tensions between USA Cricket and ACE following the governing body's decision to terminate their commercial agreement in August 2025. ACE responded by initiating arbitration and seeking injunctive relief in Colorado state court before USA Cricket filed for Chapter 11, automatically halting the litigation. The organization's governance problems continued throughout the bankruptcy, culminating in the appointment of Mark Dennis as independent Chapter 11 trustee after the board failed to produce a viable restructuring plan, the report states. Judge Michael E. Romero rejected objections filed by former directors and the National Cricket League, ruling that the trustee had demonstrated a reasonable business basis for entering into the settlement. While acknowledging the uncertainty surrounding ongoing litigation with ACE, the court concluded that the negotiated resolution offered a practical path forward and would allow USA Cricket to resume operations while working toward international reinstatement and future Olympic participation, according to report. About USA Cricket USA Cricket manages national team programs for men, women, and youth, administers domestic competitions, and works to grow cricket's presence across the U.S. through coaching, facilities development, and community engagement. The organization also represents the United States in ICC events and works closely with regional cricket leagues and associations. USA Cricket sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Col. Case No. 25-16381) on October 1, 2025. In its petition, the Debtor reports estimated assets between $100,000 and $500,000 and estimated liabilities between $500,001 and $1 million. Honorable Judge Michael E. Romero oversees the case. The Debtor is represented by Yanni Kakouris, Esq. VE LAKEVIEW: Freddie Mac Seeks Receivership for Apartment Complex ----------------------------------------------------------------- Tez Romero of MPAMag reports that Freddie Mac is seeking the appointment of a court-supervised receiver for Lakeview Apartments in Fort Valley, Georgia, claiming owner VE Lakeview LP defaulted on its mortgage obligations and allowed the property to deteriorate. Court filings allege the borrower has not made any loan payments since February 2025 on a mortgage originally issued by Walker & Dunlop LLC and now owned by Freddie Mac. The lender also claims it was forced to cover unpaid insurance premiums and use escrow funds to prevent utility service interruptions for tenants. The complaint states that the outstanding balance totaled roughly $1.91 million in mid-June after applying escrow credits, with additional interest and costs continuing to accumulate. Freddie Mac said the loan documents permit it to request a receiver immediately upon default and that it has already notified the borrower of its intent to foreclose. The lender has nominated Trigild IVL LLC to manage the property if the court grants the request. Freddie Mac contends that deteriorating property conditions further justify receivership. According to the lawsuit, inspections conducted by HUD and Freddie Mac documented significant safety deficiencies, including fire and water damage that require substantial repairs. The lender maintains that placing the property under independent management is necessary to protect residents and preserve the property's value while foreclosure proceedings continue. The allegations have not yet been adjudicated. About VE Lakeview LP VE Lakeview LP is a Georgia limited partnership and multifamily real estate owner that owns Lakeview Apartments, a 96-unit residential apartment community located at 1105 Edward Street in Fort Valley, Georgia. The partnership owns and operates the property as an income-producing multifamily housing asset. VECTOR WP: S&P Withdraws 'B' Long-Term Issuer Credit Rating ----------------------------------------------------------- S&P Global Ratings withdrew its 'B' long-term issuer credit rating on Vector WP Midco Inc. at the issuer's request. At the time of the withdrawal, S&P's outlook on the company was negative. S&P also discontinued its 'B' issue-level rating and '3' recovery rating on Vector WP HoldCo Inc.'s $100 million revolving credit facility due October 2027 and $315 million senior secured term loan B due October 2028 after it repaid the debt in full. VERACRUZ INVESTMENT: Gets Final OK to Use Cash Collateral --------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Georgia, Atlanta Division, entered a final order authorizing Veracruz Investment Group, LLC to use cash collateral through Aug. 31. The Debtor's cash collateral consists of income collected from the operation of its multi-family housing asset, including a 156-unit apartment complex located at 5738 Old Dixie Highway in Forest Park, Georgia. To finance the property, the Debtor originally executed a $9,055,000 Multifamily Note in 2023, payable to Newpoint Real Estate Capital, LLC. In early 2025, Newpoint assigned its interest in the loan and security documents to EMG Transfer Agent, LLC, which now serves as the lender and asserts a security interest in both the physical real estate and its cash proceeds, which constitute the cash collateral. Under the final order, the Debtor is authorized to use cash collateral only in accordance with the court-approved budget, subject to permitted variances of 110% for individual budget line items and 105% for total cumulative monthly disbursements, unless additional spending is approved by the court or the lender. The order limits the Debtor's use of cash collateral to authorized operating expenses and prohibits payments to insiders, officers, directors, or managers. An exception allows the debtor to continue paying a 5% monthly management fee to Horizon Realty Partners, Inc. under the existing prepetition arrangement. As adequate protection, EMG will receive replacement liens on the Debtor's pre-petition and post-petition assets to the extent of any diminution in value resulting from the use of cash collateral. Beginning July 20, the Debtor must also remit monthly payments equal to the prior month's net operating income while maintaining a minimum operating account balance of $3,500, and must maintain or replace its property insurance to avoid an immediate default. The Debtor's authority to use cash collateral terminates on the earliest of Aug. 31 or upon an uncured default under the order, with most defaults subject to a 10-day cure period, except for any lapse in insurance coverage, which results in immediate termination. The order preserves the lender's rights to seek additional adequate protection, relief from the automatic stay, or other remedies, and provides that the replacement liens and other protections remain effective even if the case is converted or dismissed. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/mX7Xw from PacerMonitor.com. About Veracruz Investments Veracruz Investment Group, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-57257) on June 1, 2026. In the petition signed by Jing-Yu Lai, manager, the Debtor disclosed up to $50 million in assets and up to $10 million in liabilities. Judge Jeffery W. Cavender oversees the case. Jamie Christy, Esq., at Schreeder Wheeler and Flint LLP, represents the Debtor as legal counsel. VIVAKOR INC: Adapti Special Dividend Payment Reset to Sept. 5 ------------------------------------------------------------- Vivakor, Inc. announced that it has reset the payment date of its previously announced special dividend to September 5, 2026. The payment date has been extended to September 5, 2026. The record date and all other terms of the previously announced special dividend remain unchanged, and no action is required by eligible shareholders. The extension provides additional time to complete the administrative and regulatory steps necessary to facilitate the distribution of the dividend. The Company continues to work diligently toward completing the process and currently expects the distribution to occur on or before September 5, 2026. Based on Vivakor's shares outstanding as of the previously announced record date, and excluding the shares held by the Company's Chairman, President and Chief Executive Officer and former Chief Financial Officer, who waived their right to participate in the dividend, eligible shareholders will receive approximately 0.0074 shares of Adapti, Inc. (OTCID: ADTI) common stock for each share of Vivakor common stock held as of the record date. Vivakor currently holds approximately 206,595 shares of Adapti, Inc. About Vivakor Inc. Vivakor Inc., headquartered in Dallas, Texas, operates an integrated midstream platform providing crude oil transportation, terminaling, storage, marketing and trading services across major U.S. producing basins. The company's transportation operations include trucking and pipeline infrastructure serving Colorado's DJ Basin, Central Oklahoma's STACK play and the Permian and Eagle Ford basins of Texas. Its assets include the Omega Gathering Pipeline, a 45-mile crude oil gathering and shuttle system in Blaine County, Oklahoma, and terminaling facilities in Colorado City, Texas; Delhi, Louisiana; and CP Omega. The company also has a remediation processing segment under development at the San Jacinto River & Rail Park in Harris County, Texas, designed to process oilfield waste, tank bottoms, vessel residues and contaminated soils. As of March 31, 2026, the Company had $111.8 million in total assets, $78.1 million in total liabilities, and $33.6 million in total stockholders' equity. In an audit report dated April 15, 2026, Urish Popeck & Co., LLC included a going concern qualification, stating that Vivakor had a significant working capital deficiency, suffered significant recurring losses from operations and needed to raise additional funds to meet obligations and sustain operations. The conditions raised substantial doubt about the company's ability to continue as a going concern. VIVAKOR INC: All Nine Proposals Approved at Annual Meeting ---------------------------------------------------------- Vivakor, Inc. has announced the results of its 2026 annual meeting of stockholders. The total votes voted at the meeting were 3,350,087 votes out of a total number of 4,779,302 votes outstanding and entitled to vote at the Annual Meeting, meaning greater than 50% of the votes outstanding and entitled to vote at the Annual Meeting were present in person or by proxy thereby constituting a quorum. The results of the matters voted on by the Company's stockholders are: Proposal 1: Election of the four nominees to the Company's board of directors. 1. James Ballengee * Votes For: 2,652,690 * Votes Against: 0 * Withheld: 174,095 * Percentage Voted For: 93.84% 2. John Harris * Votes For: 2,660,656 * Votes Against: 0 * Withheld: 166,129 * Percentage Voted For: 94.12% 3. Albert Johnson * Votes For: 2,660,998 * Votes Against: 0 * Withheld: 165,787 * Percentage Voted For: 94.14% 4. Michael Thompson * Votes For: 2,672,570 * Votes Against: 0 * Withheld: 154,215 * Percentage Voted For: 94.54% Based on the votes, James Ballengee, John Harris, Albert Johnson and Michael Thompson were elected as members of the Board. Proposal 2: Approval of the May 2026 Financing Stock Issuances, as detailed in the proxy materials. * Votes For: 2,657,432 * Votes Against: 168,727 * Votes Abstained: 626 * Broker Non-Votes: 523,302 Based on the votes, the proposal to approve May 2026 Financing Stock Issuances was adopted. Proposal 3: Approval of the Ballengee Stock Issuances, as detailed in the proxy materials. * Votes For: 2,647,309 * Votes Against: 179,227 * Votes Abstained: 249 * Broker Non-Votes: 523,302 Based on the votes, the proposal to approve the Ballengee Stock Issuances was adopted. Proposal 4: Approval of the Consultant Stock Issuances, as detailed in the proxy materials. * Votes For: 2,658,124 * Votes Against: 168,193 * Votes Abstained: 468 * Broker Non-Votes: 523,302 Based on the votes, the proposal to approve the Consultant Stock Issuances was approved. Proposal 5: Approval of the J.J. Astor Stock Issuances, as detailed in the proxy materials. * Votes For: 2,647,805 * Votes Against: 167,602 * Votes Abstained: 11,378 * Broker Non-Votes: 523,302 Based on the votes, the proposal to approve the J.J. Astor Stock Issuances was adopted. Proposal 6: Approval of the Reverse Stock Split, as detailed in the proxy materials. * Votes For: 2,905,377 * Votes Against: 443,424 * Votes Abstained: 1,286 * Broker Non-Votes: 0 Based on the votes, the proposal to approve the Reverse Stock Split was adopted. Proposal 7: Ratification of the selection of Urish Popeck & Co., LLC as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2026. * Votes For: 3,045,111 * Votes Against: 301,812 * Votes Abstained: 3,164 * Broker Non-Votes: 0 Based on the votes, the proposal to ratify the selection of Urish Popeck & Co., LLC as the Company's independent registered public accountant for the fiscal year ending December 31, 2026 was adopted. Proposal 8: Approval, on a non-binding advisory basis, the compensation of the Company's named executive officers. * Votes For: 2,643,801 * Votes Against: 181,381 * Votes Abstained: 1,603 * Broker Non-Votes: 523,302 Based on the votes, the proposal to approve on a non-binding advisory basis, the compensation of the Company's named executive officers was adopted. Proposal 9: Approval of the Plan Amendment, as detailed in the proxy materials. * Votes For: 2,655,614 * Votes Against: 169,145 * Votes Abstained: 2,026 * Broker Non-Votes: 523,302 Based on the votes, the proposal to approve the Plan Amendment was adopted. About Vivakor Inc. Vivakor Inc., headquartered in Dallas, Texas, operates an integrated midstream platform providing crude oil transportation, terminaling, storage, marketing and trading services across major U.S. producing basins. The company's transportation operations include trucking and pipeline infrastructure serving Colorado's DJ Basin, Central Oklahoma's STACK play and the Permian and Eagle Ford basins of Texas. Its assets include the Omega Gathering Pipeline, a 45-mile crude oil gathering and shuttle system in Blaine County, Oklahoma, and terminaling facilities in Colorado City, Texas; Delhi, Louisiana; and CP Omega. The company also has a remediation processing segment under development at the San Jacinto River & Rail Park in Harris County, Texas, designed to process oilfield waste, tank bottoms, vessel residues and contaminated soils. As of March 31, 2026, the Company had $111.8 million in total assets, $78.1 million in total liabilities, and $33.6 million in total stockholders' equity. In an audit report dated April 15, 2026, Urish Popeck & Co., LLC included a going concern qualification, stating that Vivakor had a significant working capital deficiency, suffered significant recurring losses from operations and needed to raise additional funds to meet obligations and sustain operations. The conditions raised substantial doubt about the company's ability to continue as a going concern. VIVAKOR INC: New Cushing Deal Pushes Contracted Revenue to $420M ---------------------------------------------------------------- Vivakor, Inc.'s commodities trading platform, Vivakor Supply & Trading, LLC, has entered into a new recurring crude oil transaction covering approximately 100,000 barrels of WTI crude oil per month through the Enterprise Products Cushing Terminal. The agreement is scheduled to commence in August 2026 and continue through July 2027. Based on expected volumes and current market pricing, the transaction is anticipated to generate approximately $7.5 million in revenue per month, representing approximately $90 million in annualized gross revenue. The arrangement further expands VST's recurring commercial activity in the Cushing market, one of North America's most important crude oil trading hubs, and reflects Vivakor's continued execution of its integrated infrastructure and supply & trading strategy. Including this transaction, Vivakor estimates that its recurring contracted commercial activities and announced supply and trading arrangements now represent approximately $420 million in annualized contracted revenue opportunities based on current pricing assumptions and expected volumes. The Company believes this milestone reflects the continued growth of its integrated infrastructure and supply & trading platform and represents meaningful progress toward its long-term objective of $1 billion in annualized commercial activity. Since the beginning of 2026, Vivakor has announced multiple recurring crude oil marketing and supply agreements across key domestic producing and trading regions, including Cushing, the Bakken, and the Permian Basin. Management believes this growing portfolio of recurring commercial relationships strengthens the Company's revenue visibility while increasing utilization across its infrastructure platform. "This transaction further strengthens our commercial presence in one of North America's most important crude oil trading hubs," said James Ballengee, Chairman and Chief Executive Officer of Vivakor. "Cushing remains a critical market for crude oil storage, transportation, and pricing, and we continue to see opportunities to expand recurring commercial activity through our growing supply and trading platform." Ballengee continued, "With annualized contracted revenue opportunities now approaching $420 million, we continue to make meaningful progress toward the long-term objectives of our commercial trading platform . We believe the momentum generated by our expanding supply and trading activities demonstrates the scalability of our business model and the growing value of our integrated infrastructure network." Consistent with standard commodity trade transactions, VST will generally recognize a small percentage of total contract value as its revenue on the relevant transaction, reflecting its role as an intermediary within the physical commodity supply chain. Actual revenue recognized by VST will vary based on market conditions, commodity pricing, transaction structure, and volumes delivered. About Vivakor Inc. Vivakor Inc., headquartered in Dallas, Texas, operates an integrated midstream platform providing crude oil transportation, terminaling, storage, marketing and trading services across major U.S. producing basins. The company's transportation operations include trucking and pipeline infrastructure serving Colorado's DJ Basin, Central Oklahoma's STACK play and the Permian and Eagle Ford basins of Texas. Its assets include the Omega Gathering Pipeline, a 45-mile crude oil gathering and shuttle system in Blaine County, Oklahoma, and terminaling facilities in Colorado City, Texas; Delhi, Louisiana; and CP Omega. The company also has a remediation processing segment under development at the San Jacinto River & Rail Park in Harris County, Texas, designed to process oilfield waste, tank bottoms, vessel residues and contaminated soils. As of March 31, 2026, the Company had $111.8 million in total assets, $78.1 million in total liabilities, and $33.6 million in total stockholders' equity. In an audit report dated April 15, 2026, Urish Popeck & Co., LLC included a going concern qualification, stating that Vivakor had a significant working capital deficiency, suffered significant recurring losses from operations and needed to raise additional funds to meet obligations and sustain operations. The conditions raised substantial doubt about the company's ability to continue as a going concern. WILDWOOD PHASE: Seeks Chapter 11 Bankruptcy in Florida ------------------------------------------------------ On July 2, 2026, Wildwood Phase One, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville Division. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to 1-49 creditors. The filing follows a May 2026 final judgment of approximately $1 million entered against the company. The deadline to file the Chapter 11 Plan and Disclosure Statement is October 30, 2026. About Wildwood Phase One, LLC Wildwood Phase One, LLC is a Wildwood, Florida-based single-asset real estate holding and development company. The company operates as a single-asset real estate entity focused on development projects. The entity was formed in late 2021 and reinstated as an active Florida company in April 2024. The business is managed by Jeffrey Diette, who is also affiliated with storage-related real estate developments. Wildwood Phase One, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-02984) on July 2, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. Honorable Jason A. Burgess handles the case. The Debtor is represented by Michael A. Wynn, Esq. of Stichter Riedel Blain & Postler. WORKHORSE GROUP: All Four Proposals Approved at Annual Meeting -------------------------------------------------------------- Workhorse Group Inc. has announced the results of its Annual Meeting. As of May 8, 2026, the record date for holders of Shares entitled to vote at the Annual Meeting, there were 10,893,400 Shares outstanding and entitled to vote at the Annual Meeting. Of the Shares entitled to vote, 8,103,245, or approximately 74.38% of the Shares, were present or represented by proxy at the Annual Meeting, constituting a quorum under the Company's Articles of Incorporation. There were four matters presented and voted on at the Annual Meeting. Set forth below is a brief description of each matter voted on at the Annual Meeting and the final voting results with respect to each such matter. Proposal No. 1 – The Election of Director Nominees Proposal 1. Matthew O'Leary * For: 6,972,744 * Against: 66,572 * Abstain: 14,189 * Broker Non-Vote: 1,121,390 2. Scott Griffith * For: 6,972,753 * Against: 65,756 * Abstain: 14,996 * Broker Non-Vote: 1,121,390 3. Pamela S. Mader * For: 6,974,074 * Against: 68,470 * Abstain: 10,961 * Broker Non-Vote: 1,121,390 4. Raymond J. Chess * For: 6,962,885 * Against: 79,660 * Abstain: 10,960 * Broker Non-Vote: 1,121,390 5. Alan S. Henricks * For: 6,975,632 * Against: 65,928 * Abstain: 11,945 * Broker Non-Vote: 1,121,390 6. Paul Savoie * For: 6,971,179 * Against: 70,345 * Abstain: 11,981 * Broker Non-Vote: 1,121,390 7. Desi Ujkashevic * For: 6,975,733 * Against: 63,148 * Abstain: 14,624 * Broker Non-Vote: 1,121,390 The Company's stockholders elected all seven nominees to serve as directors until the 2027 annual meeting of the stockholders of the Company, or until such directors' successors have been duly elected or qualified, or until such directors' earlier death, resignation, retirement, or removal. Proposal No. 2 – The Say on Pay Proposal * For: 6,938,904 * Against: 93,299 * Abstain: 21,302 * Broker Non-Vote: 1,121,390 The Company's stockholders approved, on an advisory basis, the compensation of the Company's named executive officers. Proposal No. 3 – the Auditor Ratification Proposal * For: 8,061,795 * Against: 86,613 * Abstain: 26,487 * Broker Non-Vote: -- Proposal No. 4 – The Incentive Plan Proposal * For: 6,849,267 * Against: 186,217 * Abstain: 18,021 * Broker Non-Vote: 1,121,390 The Company's stockholders approved the Workhorse Group Inc. Amended and Restated 2023 Long-Term Incentive Plan, which among other things, increased the number of shares of the Company's common stock, par value $0.001 per share, available for issuance under the Plan by an additional 1,089,340 Shares. The Board of Directors previously adopted the Plan on May 12, 2026, subject to stockholder approval. The Plan became effective upon such approval. About Workhorse Group Workhorse Group Inc. -- http://www.workhorse.com-- is an American technology company with a vision to pioneer the transition to zero-emission commercial vehicles. The Company designs, develops, manufactures and sells fully electric ground and air-based electric vehicles. Palm Beach Gardens, Florida-based Carr, Riggs & Ingram, L.L.C., the Company's auditor since 2026, issued a "going concern" qualification in its report dated March 31, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has incurred recurring losses from operations, has a working capital deficiency, and an accumulated deficit that raises substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $102.7 million in total assets, $76.5 million in total liabilities, and $26.2 million in total stockholders' equity. ********* On Thursdays, the TCR delivers a list of recently filed Chapter 11 cases involving less than $1,000,000 in assets and liabilities delivered to nation's bankruptcy courts. The list includes links to freely downloadable images of these small-dollar petitions in Acrobat PDF format. 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