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/raid1/www/Hosts/bankrupt/TCR_Public/170408.mbx T R O U B L E D C O M P A N Y R E P O R T E R Saturday, April 8, 2017, Vol. 21, No. 97 Headlines AZURE MIDSTREAM: Posts $4.06 Million Net Loss at Feb. 28 RMS TITANIC: Has $534,209 Ending Cash Balance in February VIOLIN MEMORY: Posts $3.23 Million Net Loss in January 2017 ********* AZURE MIDSTREAM: Posts $4.06 Million Net Loss at Feb. 28 -------------------------------------------------------- Azure Midstream Partners, LP, et. al., filed with the U.S. Securities and Exchange Commission their monthly operating report for the period from January 30, 2017 through February 28, 2017. The Debtors posted a net loss of $4.06 million on $3.20 million of revenues for the period. As of February 28, 2017, the Debtors posted total assets of $209.82 million, total liabilities of $187.02 million, and $22.79 million in consolidated total shareholders' equity. At January 30, 2017, the Debtors had $5.41 million cash. They had total receipts of $3.57 million and total disbursements of $2.99 million. At February 28, the Debtors had $5.99 million cash. A copy of the monthly operating report is available at the SEC at: http://bit.ly/2ndNz3g About Azure Midstream Partners Azure Midstream Partners, LP, is a publicly traded Delaware master limited partnership that was formed by NuDevco Partners, LLC and its affiliates to develop, own, operate and acquire midstream energy assets. Azure Midstream and 11 of its affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 17-30461) on Jan. 30, 2017. The petitions were signed by I.J. Berthelot, II, president. The cases are assigned to Judge David R Jones. Azure disclosed $375.53 million in assets and $179.38 million in liabilities as of as of Sept. 30, 2016. Vinson & Elkins LLP is serving as corporate counsel to the Debtors; Evercore Group LLC is serving as as financial advisor; Alvarez & Marsal North America LLC is serving as restructuring advisor; and Kurtzman Carson Consultants LLC is serving as claims, noticing & balloting agent. RMS TITANIC: Has $534,209 Ending Cash Balance in February --------------------------------------------------------- RMS Titanic, Inc., filed with the U.S. Securities and Exchange Commission its monthly operating report for February 2017. RMS Titanic, Inc., did not post a list of its assets and liabilities for February. The Debtor's cash flow reported $534,209 beginning cash balance. It also listed $25,083 total receipts and no disbursements for the month. Thus, the Debtor had an ending cash balance of $559,292 at February 28. A copy of the monthly operating report is available at the SEC at: http://bit.ly/2neCoIB About About RMS Titanic, Inc. Premier Exhibitions, Inc. (Nasdaq: PRXI), located in Atlanta, Georgia, is a presenter of museum quality exhibitions throughout the world. Premier --http://www.PremierExhibitions.com/-- develops and displays unique exhibitions for education and entertainment including Titanic: The Artifact Exhibition, BODIES...The Exhibition, Tutankhamun: The Golden King and the Great Pharaohs, Pompeii The Exhibition, Extreme Dinosaurs and Real Pirates in partnership with National Geographic. The success of Premier Exhibitions lies in its ability to produce, manage, and market exhibitions. RMS Titanic and seven of its subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Lead Case No. 16-02230) on June 14, 2016. Former Chief Financial Officer and Chief Operating Officer Michael J. Little signed the petitions. The Chapter 11 cases are assigned to Judge Paul M. Glenn. The Debtors estimated both assets and liabilities of $10 million to $50 million. Guy Gebhardt, acting U.S. trustee for Region 21, on Aug. 24, 2016, appointed three creditors to serve on the official committee of unsecured creditors of RMS Titanic, Inc., and its affiliates. The Committee hired Storch Amini & Munves PC and Thames Markey & Heekin, P.A. as counsel. VIOLIN MEMORY: Posts $3.23 Million Net Loss in January 2017 ----------------------------------------------------------- Violin Memory, Inc., filed with the U.S. Securities and Exchange Commission its monthly operating report for January 2017. The Debtor's statement of operations recorded a net loss of $3.23 million on $1.74 million of total revenue for the month. As of January 31, 2017, the Debtor had $25.83 million in total assets, $146.30 million in total liabilities, and $120.48 million in total stockholders' deficit. At the start of the month, the Debtor had $3.99 million cash. It had total receipts of $616,539 and total disbursements of $1.20 million. At month end, the Debtor had $3.41 million cash. A copy of the monthly operating report is available at the SEC at: http://bit.ly/2nP7KJK About Violin Memory Violin Memory, Inc., develops and supplies memory-based storage systems for high-speed applications, servers and networks in the Americas, Europe and the Asia Pacific. Founded in 2005, the Company is headquartered in Santa Clara, California. Violin Memory sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No. 16-12782) on Dec. 14, 2016. The petition was signed by Cory J. Sindelar, chief financial officer. At the time of the filing, the Debtor disclosed $38.93 million in assets and $145.4 million in liabilities. Pillsbury Winthrop Shaw Pittman LLP serves as the Debtor's legal counsel while Justin R. Alberto, Esq. and Scott D. Cousins, Esq., at Bayard, P.A., serves as co-counsel. The Debtor has hired Houlihan Lokey Capital, Inc., as financial advisor and investment banker. Prime Clerk LLC serves as administrative advisor. The U.S. Trustee, on Dec. 27, 2016, named three creditors to serve on the official committee of unsecured creditors Wilmington Trust, N.A., Clinton Group, Inc., and Forty Niners SC Stadium Company LC. The Committee hires Cooley LLP as lead counsel, and Elliot Greenleaf as its Delaware counsel. The Committee tapped DAK Group, Ltd., as financial advisor and investment banker. VM Bidco is represented in the case by: Mark D. Collins, Esq. Zachary I. Shapiro, Esq. RICHARDS, LAYTON & FINGER, P.A. One Rodney Square 920 North King Street Wilmington, Delaware 19801 Telephone: (302) 651-7700 Email: collins@rlf.com shapiro@rlf.com - and - Gary T. Holtzer, Esq. David N. Griffiths, Esq. WEIL GOTSHAL & MANGES LLP 757 Fifth Avenue New York, New York 10153 Telephone: (212) 310-8000 Email: gary.holtzer@weil.com david.griffiths@weil.com ********* Monday's edition of the TCR delivers a list of indicative prices for bond issues that reportedly trade well below par. Prices are obtained by TCR editors from a variety of outside sources during the prior week we think are reliable. Those sources may not, however, be complete or accurate. The Monday Bond Pricing table is compiled on the Friday prior to publication. Prices reported are not intended to reflect actual trades. Prices for actual trades are probably different. Our objective is to share information, not make markets in publicly traded securities. Nothing in the TCR constitutes an offer or solicitation to buy or sell any security of any kind. It is likely that some entity affiliated with a TCR editor holds some position in the issuers public debt and equity securities about which we report. Each Tuesday edition of the TCR contains a list of companies with insolvent balance sheets whose shares trade higher than $3 per share in public markets. At first glance, this list may look like the definitive compilation of stocks that are ideal to sell short. Don't be fooled. Assets, for example, reported at historical cost net of depreciation may understate the true value of a firm's assets. A company may establish reserves on its balance sheet for liabilities that may never materialize. The prices at which equity securities trade in public market are determined by more than a balance sheet solvency test. On Thursdays, the TCR delivers a list of recently filed Chapter 11 cases involving less than $1,000,000 in assets and liabilities delivered to nation's bankruptcy courts. The list includes links to freely downloadable images of these small-dollar petitions in Acrobat PDF format. Each Friday's edition of the TCR includes a review about a book of interest to troubled company professionals. All titles are available at your local bookstore or through Amazon.com. Go to http://www.bankrupt.com/books/to order any title today. Monthly Operating Reports are summarized in every Saturday edition of the TCR. The Sunday TCR delivers securitization rating news from the week then-ending. TCR subscribers have free access to our on-line news archive. Point your Web browser to http://TCRresources.bankrupt.com/and use the e-mail address to which your TCR is delivered to login. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter is a daily newsletter co-published by Bankruptcy Creditors Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA. Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog, Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa, Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors. Copyright 2017. All rights reserved. ISSN: 1520-9474. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. The TCR subscription rate is $975 for 6 months delivered via e-mail. Additional e-mail subscriptions for members of the same firm for the term of the initial subscription or balance thereof are $25 each. For subscription information, contact Peter A. Chapman at 215-945-7000 or Nina Novak at 202-362-8552. *** End of Transmission ***