/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/171012.mbx T R O U B L E D C O M P A N Y R E P O R T E R Thursday, October 12, 2017, Vol. 21, No. 284 Headlines 309 BARONNE: Wants Exclusivity Extended by 30 Days for Plan Talks ACI CONCRETE: Allowed to Continue Using Equity Bank Cash Collateral ADVANCED PRECISION: DSI to Serve as Sales Agent for Assets ARKADOS GROUP: RBSM LLP Casts Going Concern Doubt ARTISANAL 2015: Taps Goldberg Weprin as Litigation Counsel BIG APPLE CIRCUS: Plan Exclusivity Period Continued Thru Dec. 18 CANNABIS SCIENCE: Has 5-Year Collaboration Pact with Dana-Farber CARRIER TRUCKING: Wants to Use Cash Collateral on Operations CENTRAL GROCERS: Taps iDiscovery as Data Preservation Provider CENTRAL GROCERS: Taps RCC to Collect Non-Insider Receivables COCOA SERVICES: Gets Approval to Hire Deloitte's Frezza as CRO COUNTERPATH CORP: Lack of Profitability Raises Going Concern Doubt CRANBERRY GROWERS: Has Court's Interim Nod to Obtain DIP Financing CRYSTAL ENTERPRISES: SFS, U.S. Foods to be Paid in 74 Mos. DAWSON OIL: Wants Plan Exclusivity Extended to Dec. 21 DIAMONDHEAD CASINO: Incurs $114K Net Loss in First Quarter DICK CAMPBELL: Intends to File Chapter 11 Plan by February 2018 DIFFUSION PHARMACEUTICALS: May Issue 2.2M Shares Under 2015 Plan DIFFUSION PHARMACEUTICALS: Registered 26.46M Shares for Resale DON ROSE OIL: Trustee Taps Force Ten Partners as Financial Advisor DYNAMIC CONSTRUCTION: Wants to Enter Into Finance Pact With IPFS EASTGATE COMMERCE: Taps Greg Crowell as Property Manager ENGY GROUP: Wants $350,000 Financing From Mowery Plant ESPLANADE HL: Needs More Time to Complete Asset Sale, File Plan FINTON CONSTRUCTION: May Use Cash Collateral Through Dec. 22 G6 LIMITED: Voluntary Chapter 11 Case Summary GLAZER FOODS: Source Foods Asks Court to Stop Cash Collateral Use GLOBAL SOLUTIONS: Seeks Jan. 31 Plan Filing Exclusivity Extension GREEN TERRACE: DOJ Watchdog Names R. Furr as Chapter 11 Trustee GROUP 701: Seeks to Hire ReMax as Real Estate Broker HALT MEDICAL: Wants to Maintain Plan Exclusivity Through Dec. 8 HAMPTON DREAM: Case Summary & 3 Unsecured Creditors HOMEROOMS INC: Case Summary & 11 Unsecured Creditors HUMAN CONDITION: Intends to File Chapter 11 Plan by January 2018 ICAGEN INC: Closed Securities Purchase Agreement With GPB Debt INFORMATION SOLUTIONS: Wants Plan Exclusivity Continued to Jan. 12 ION GEOPHYSICAL: Four Proposals Approved at Annual Meeting ITUS CORP: Obtained $3.6 Million From Public Stock Offering JAMBA INC: Nasdaq Grants Request for Listing Compliance Extension KNIGHT ENERGY: Committee Taps Huron as Financial Advisor LA PALOMA GENERATING: Wants Solicitation Period Extended to Dec. 5 LA PALOMA: Second Lien Claimants to Recoup 22%-31% LABORATORIO CLINICO: Says Hurricanes Hamper Exit Plan Preparations LIL ROCK: Has Interim Permission to Use Germantown Cash Collateral LOOKIN UP: Asks for Court's Nod to Use Cash Collateral MCCLATCHY CO: May Issue 500K Shares Under 2012 Incentive Plan MD2U MANAGEMENT: May Continue Using Cash Collateral MIDWAY GOLD: Court Junks 2nd Amended Joint Ch. 11 Liquidation Plan MISSIONARY ASSEMBLY: May Use Cash Collateral Through Nov. 28 MONTCO OFFSHORE: Taps Drinker Biddle as Special Counsel MONTEZUMA MEXICAN: Latest Plan to Pay Priority Claims in 5 Years MOREHEAD MEMORIAL: May Use Cash Collateral Through Nov. 17 OCEAN RIG: Court Orders Discharge of Joint Provisional Liquidators OMINTO INC: Incurs $4.14 Million Net Loss in Second Quarter PFO GLOBAL: Trustee Taps Litzler Segner as Accountant PHOTOMEDEX INC: Incurs $1.84 Million Net Loss in First Quarter POINT.360: Case Summary & 20 Largest Unsecured Creditors POINT.360: Files Voluntary Chapter 11 Bankruptcy Petition PORTRAIT INNOVATIONS: Taps Finley Group as Financial Advisor PORTRAIT INNOVATIONS: Taps Hilco as Real Estate Advisor PORTRAIT INNOVATIONS: Taps Piper Jaffray as Investment Banker PORTRAIT INNOVATIONS: Taps Troutman Sanders as Corporate Counsel QUADRANGLE PROPERTIES: Agreed Order on Cash Use Entered ROADRUNNER TRANSPORTATION: Gets NYSE Listing Compliance Extension ROSE COURT: Voluntary Chapter 11 Case Summary SALAD & CO: Not Allowed to Use Rents, Cash Collateral SALAD & CO: Secured Lenders Try to Block Use of Cash Collateral SEARS CANADA: Fails to Find Buyer, to Close 130 Remaining Stores SERENITY HOMECARE: Has Court's Final Nod to Use Cash Collateral SHEPHERD UNIVERSITY: Wants Up To $10M in Financing From Queenston SIXTY SIXTY CONDO: Nov. 1 Disclosure Statement Hearing STEMTECH INT'L: Seeks Authority for Further Use of Cash Collateral SUNSET PARTNERS: Chapter 11 Trustee Taps Verdolino as Accountant TOWERSTREAM CORP: Laura Thomas Named Chief Financial Officer VITAMIN WORLD: Committee Taps Berkeley as Financial Advisor WILLIAM B. LAWTON: Case Summary & 20 Largest Unsecured Creditors WILLIAMS FINANCIAL: Taps Richard F. Amsberry as Accountant WYNIT DISTRIBUTION: Financing, Cash Use Have Interim Approval [^] Recent Small-Dollar & Individual Chapter 11 Filings ********* 309 BARONNE: Wants Exclusivity Extended by 30 Days for Plan Talks ----------------------------------------------------------------- 309 Baronne St., L.L.C. asks the U.S. Bankruptcy Court for the Eastern District of Louisiana to extend the period within which only the Debtor has the exclusive right to file a Chapter 11 Plan of Reorganization and a Disclosure Statement for an additional 30 days. The Court signed an Order on September 1, 2017, granting the Debtor's First Exclusivity Motion for an additional 60 days to file a Disclosure Statement and Plan. The exclusive plan filing period was slated to expire October 9. However, the Debtor says it needs an additional 30 days to propose its Chapter 11 Plan because its Manager is awaiting a decision on a property insurance claim with Allstate Insurance, which has not yet been rendered. The Debtor claims that it has reached a stipulation with its secured lender, Crescent Bank and Trust, for adequate protection which was entered on October 5, 2017. Also, the Debtor contends that its Manager has a meeting scheduled with regard to certain possible post-petition funding. As such, the Debtor wishes to allow further discussions to take place with its secured lender Crescent Bank. About 309 Baronne St., L.L.C. 309 Baronne St., L.L.C., based in New Orleans, Louisiana, filed a Chapter 11 petition (Bankr. E.D. La. Case No. 17-10888) on April 10, 2017. Markus E. Gerdes, Esq., at Gerdes Law Firm, L.L.C., serves as bankruptcy counsel. The Debtor hired the Law Firm of Ron Austin & Associates, L.L.C., as special counsel. In its petition, the Debtor estimated $1 million to $10 million in assets and $100,001 to $500,000 in liabilities. The petition was signed by Harry E. Cantrell, Jr., managing member. ACI CONCRETE: Allowed to Continue Using Equity Bank Cash Collateral ------------------------------------------------------------------- The Hon. Dale L. Somers of the U.S. Bankruptcy Court for the District of Kansas has entered a second interim order authorizing ACI Concrete Placement of Kansas, LLC and its debtor-affiliates to use cash collateral in the ordinary course of their businesses in accordance with the cash collateral budget for a period of time expiring Oct. 31, 2017. The Debtors, in consultation with Equity Bank, have prepared and delivered to Equity Bank a budget for the use of cash collateral on a weekly basis and expires on Dec. 31, 2017. However, to determine compliance with the Second Interim Order, the Debtors are allowed to expend only the projected cash disbursements in the amount of $1,160,909 for week ending Sept. 30, 2017, through week ending Oct. 28, 2017. As of the Petition Date, the aggregate principal amount of all obligations that the Debtors owed Equity Bank under and in connection with the Pre-Petition Credit Facility is estimated to be not less than $7,775,000, secured by first priority, valid, binding, perfected and enforceable liens and security interests on and in substantially all of the Debtors' assets Consequently, all of the cash of the Debtors in existence on the Petition Date and all cash that is acquired by the Debtors after the Petition Date as proceeds of Pre-Petition Collateral constitutes cash collateral for the benefit of Equity Bank. The Court finds that Equity Bank consents to the Debtors' use of Cash Collateral and other financial accommodations. As adequate protection of Equity Bank's interest, a payment of $50,000 will be paid by Oct. 13, 2017 ($25,000 of which it is anticipated will be paid Sept. 29, 2017). Likewise, Equity Bank is also granted as adequate protection for any post-petition diminution in value of its Pre-Petition Collateral (including, without limitation, Cash Collateral), additional and replacement security interests and liens in and upon all of the Pre-Petition Collateral and all of the Debtors' now owned and after acquired assets and rights of any kind or nature and wherever located, including causes of action pursuant to Chapter 5 of the Bankruptcy Code. In addition to the adequate protection payment and adequate protection liens granted to Equity Bank, the Debtors will further provide to Equity Bank the following: (a) Dec. 31, 2015, Dec. 31, 2016 and year-to-date for 2017 audited financial reports on all Debtors; (b) Any compilations prepared by outside accountants; (c) Required internal financial reports as outlined in any Loan Agreement; (d) All month end income and balance sheets for the year 2017; (e) Current personal financial statement of the guarantor Lawrence Kaminsky effective as of the Petition Date; (f) Quarterly financial reports (interim) on all Debtors for the period June 30, 2017 and Sept. 30, 2017; (g) Borrowing base certificates for accounts receivable for July 31, 2017, Aug. 30, 2017, Sept. 30, 2017 and monthly thereafter; (h) Copies of filed corporate income tax returns for the calendar year 2016 and any amendments thereto promptly upon completion or as submitted to the appropriate taxing authority for all Debtors, together with all exhibits, schedules and attachments thereto; (i) Detailed line item budget in the same format as historically presented; (j) All monthly submissions of financial and accounting information to the U.S. Trustee; and (k) All existing lease agreements and executory contracts. Equity Bank will also have an allowed superpriority administrative expense claim, which will be payable from and have recourse to all pre- and post-petition property of the Debtors. A full-text copy of the Order, dated Oct. 5, 2017, is available at http://tinyurl.com/y82c3mt3 Equity Bank is represented by: Edward J. Nazar, Esq. HINKLE LAW FIRM LLC 1617 North Waterfront Parkway, Suite 400 Wichita, KS 67206-6639 Tel: 316.267.2000 Fax: 316.264.1518 E-mail: enazar@hinklaw.com -- and -- Andrew W. Muller, Esq. STINSON LEONARD STREET LLP 1201 Walnut, Suite 2900 Kansas City, MO 64106 Tel: 816.842.8600 Fax: 816.691.3495 E-mail: Andrew.muller@stinson.com The U.S. Trustee can be reached through: Jordan Sickman, Esq. Assistant United States Trustee Admitted in Michigan, P69823 301 North Main Street, Suite 1150 Wichita, KS 67202 Tel: (316) 269-6176 Fax: (316) 269-6182 E-mail: Jordan.sickman@usdoj.gov About ACI Concrete Placement Founded in 2007, ACI Concrete Placement provides concrete pumping and telebelt material placement. In addition to its traditional concrete placement services, ACI specializes in slip form concrete placement and separate placing booms. It owns a fleet of over 55 machines for slope paving, indoor pumping, and small set up areas, small line and grout pumps and truck mounted conveyors, etc. ACI Concrete is headquartered in Spring Hill, Kansas, with additional locations in Nebraska, Missouri, and Oklahoma. ACI-Kansas is wholly owned by debtor KOK Holdings, LLC. ACI-Oklahoma, an Oklahoma Limited Liability Company headquartered in Kansas, owned by: Lawrence Kaminsky who owns 70% of the company and Matthew Kaminsky who owns 30% of the company. ACI-Lincoln, a Nebraska Limited Liability Company headquartered in Kansas, owned by: Lawrence Kaminsky who owns 70% of the company and Matthew Kaminsky who owns 30% of the company. KOK is owned by: Lawrence Kaminsky who owns 50% of the company and Matthew Kaminsky who owns 50% of the company. OKK is wholly owned by the Debtor KOK Holdings, LLC. ACI-Kansas, ACI-Oklahoma and ACI-Lincoln function as concrete pouring companies in their respective states. OKK serves as the common equipment ownership company for all ACI companies. KOK serves as the parent holding company of the various companies and also functions as the payroll processor for the related ACI companies. The same management structure operates all five Debtors and their operations are centrally located in Spring Hill, Kansas. ACI Concrete Placement of Kansas LLC, ACI Concrete Placement of Lincoln LLC, ACI Concrete Placement of Oklahoma LLC, OKK Equipment LLC and KOK Holdings LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Kansas Case Nos. 17-21770 to 17-21774) on Sept. 14, 2017. Matthew Kaminsky, COO, signed the petitions. The Debtors have filed motion to jointly administer their cases, which is currently pending before the Court. At the time of the filing, ACI Kansas disclosed $1.06 million in assets and $8.4 million in liabilities. Judge Dale L. Somers presides over the cases. Bradley D. McCormack, Esq., at the Sader Law Firm, serves as the Debtors' bankruptcy counsel. No trustee or examiner has been appointed, and no committee of unsecured creditors or equity holders has been established. ADVANCED PRECISION: DSI to Serve as Sales Agent for Assets ---------------------------------------------------------- The United States Bankruptcy Court Northern District of Illinois Eastern Division has ordered that Development Specialists, Inc. ("DSI") shall serve as the Debtors' Consultant and Sales Agent with respect to the sale under Section 363 of the Bankruptcy Code of substantially all of the assets of ADVANCED PRECISION MANUFACTURING INC. (17-18961) (www.apmi.us) and ADK ARMS, INC. (17-21679) (www.adkarms.com). The companies design, market, produce and assemble high precision machined parts from a 21,000 square foot facility in Elk Grove Village, IL. Assets to be Sold: Accounts Receivable, Inventory, Equipment, Contracts and Intellectual Property. While not part of the bankruptcy estates, bids will also be received for the manufacturing facility located at 2301 Estes Ave, Elk Grove Village, IL. Optionality to purchase real estate, lease real estate or relocate equipment. Industries served include: Military, Firearms, Aerospace, Oil Drilling, Power Generation and Medical Capabilities: Milling, Laser Cutting, Water Jet Cutting, Rolling, Press Brake, Robotic Welding Materials: Aluminum, Inconel, Titanium, Copper, Beryllium, Waspaloy, Hastelloy For more information on the sale, please contact Patrick O'Malley -- pomalley@dsi.biz -- or Louis Trimble -- ltrimble@dsi.biz -- of Development Specialists, Inc. at 312-263-4141. About Advanced Precision Elk Grove Village, Illinois-based Advanced Precision Manufacturing, Inc. -- http://www.apmi.us/-- is a family-owned business that produces and assembles machined components for the aircraft industries, as well as projects in the automotive industry and commercial manufacturing market. Founded in 1983, APMI specializes in precision machining of all standard metals as well as exotic materials like Inconel, Waspalloy, Titanium, Beryllium Copper, Hastalloy, and other materials for aviation aerospace, power generation, medical and oil field drilling applications. Advanced Precision Manufacturing filed for Chapter 11 bankruptcy protection (Bankr. N.D. Ill. Case No. 17-18961) on June 23, 2017, estimating its assets and liabilities at between $1 million and $10 million. The petition was signed by Tadeusz Kozlowski, president. Judge Donald R Cassling presides over the case. Jeffrey C Dan, Esq., and Arthur G. Simon, Esq., Brian P. Welch, Esq., and David K Welch, Esq., at Crane, Heyman, Simon, Welch & Clar serves as the Debtor's bankruptcy counsel. About A.D.K. Arms Based at 2301 Estes Avenue, Elk Grove Village, Illinois, A.D.K. Arms, Inc., is a holder of a federal firearms license, operating as a premium supplier of tactical firearm components. A.D.K. Arms filed a Chapter 11 petition (Bankr. N.D. Ill. Case No. 17-21679) on July 20, 2017. The case is assigned to Judge Donald R. Cassling. The Debtor is represented by David K. Welch, Esq. at Crane, Heyman, Simon, Welch & Clar. A.D.K. Arms is an affiliated entity of Advanced Precision Manufacturing, Inc. ("APMI") that commenced its own Chapter 11 case (Bankr. N.D. Ill. Case No. 17-18961) on June 23, 2017. A.D.K. Arms is the sales agent, seller and distributor for APMI of such components manufactured by APMI. The A.D.K. Arms and APMI cases are jointly administered under Case No. 17-18961. ARKADOS GROUP: RBSM LLP Casts Going Concern Doubt ------------------------------------------------- Arkados Group, Inc., filed with the U.S. Securities and Exchange Commission its annual report on Form 10-K, disclosing a net loss of $3.35 million on $2.35 million of net sales for the fiscal year ended May 31, 2017, compared with a net loss of $3.11 million on $1.87 million of net sales in 2016. RBSM LLP in New York, N.Y., states that the Company has incurred recurring operating losses and will have to obtain additional capital to sustain operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. The Company's balance sheet at May 31, 2017, showed $19.01 million in total assets, $13.00 million in total liabilities, and a total equity of $6.01 million. A copy of the Form 10-K is available at: https://is.gd/v6LZX7 About Arkados Group Arkados Group, Inc., conducts its business activities through two subsidiaries, Arkados, Inc. (Arkados) and SolBright Energy Solutions, LLC (formerly Arkados Energy Solutions, LLC). The Newark, New Jersey-based Company delivers technology solutions for building and machine automation and energy conservation and provide energy conservation services such as LED lighting retrofits, HVAC system retrofits and solar engineering, procurement and construction services. ARTISANAL 2015: Taps Goldberg Weprin as Litigation Counsel ---------------------------------------------------------- Artisanal 2015, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to hire Goldberg Weprin Finkel Goldstein LLP as its special litigation counsel. The firm will represent the Debtor in a pending and future litigation against its landlord 387 Park South LLC over the alleged pre-bankruptcy termination of its lease. Goldberg charges an hourly fee of $550 for the services of Kevin Nash, Esq., the attorney who will be representing the Debtor, and other partners of the firm. The hourly rate for associates range from $300 to $425. Mr. Nash disclosed in a court filing that the firm is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Kevin J. Nash, Esq. Goldberg Weprin Finkel Goldstein LLP 1501 Broadway, 22nd Floor New York, NY 10036 Phone : (212) 221- 5700 Fax: (212) 730-4518 About Artisanal 2015 LLC Artisanal 2015, LLC, based in New York, NY, filed a Chapter 11 petition (Bankr. S.D.N.Y. Case No. 17-12319) on August 21, 2017. Arnold Mitchell Greene, Esq., at Robinson Brog Leinwand Greene Genovese & Gluck P.C., serves as its bankruptcy counsel. In its petition, the Debtor estimated $1 million to $10 million in assets and $10 million to $50 million in liabilities. The petition was signed by Sarid Drory, its managing member. BIG APPLE CIRCUS: Plan Exclusivity Period Continued Thru Dec. 18 ---------------------------------------------------------------- Judge Sean H. Lane of the U.S. Bankruptcy Court for the Southern District of New York extended TBAC Wind Down, Ltd. f/k/a The Big Apple Circus, Ltd.'s exclusive periods to file a chapter 11 plan through December 18, 2017, and to solicit acceptances of a chapter 11 plan through February 13, 2018. As reported by the Troubled Company Reporter on September 25, 2017, the Debtor filed a third motion asking the Court for a 90-day extension of its exclusivity periods out of an abundance of caution and in order to preserve its exclusivity through confirmation and effectiveness of the Plan. Big Apple Circus said that during the last extension of the Exclusive Periods, the Debtor and its advisors have continued to actively wind down its affairs, formulate and negotiate a viable chapter 11 plan, reconcile claims, settle significant liabilities of the Debtor's estate, collect previously awarded grant funds and other receivables, and expeditiously administer this chapter 11 case. The Debtor recounted that it has diligently prepared a chapter 11 plan to govern the orderly liquidation of its estate, a related disclosure statement providing detailed information about the Plan, procedures addressing the solicitation and tabulation of votes on the Plan, and a motion seeking approval of the Disclosure Statement, the Solicitation Procedures, and the proposed Plan confirmation timetable. Following consultation with its primary stakeholders and regulators, including the Creditors' Committee and the New York City Charities Bureau, the Debtor filed the Plan, the Disclosure Statement, and the Solicitation Procedures Motion on September 15, 2017. The hearing to consider approval of the Disclosure Statement and the other relief sought in the Solicitation Procedures Motion has been scheduled for October 31. The Debtor also told the Court that it has also reviewed and reconciled nearly all of the scheduled and filed claims against it to facilitate distributions, and drafted its first omnibus claims objection, which was filed on September 18, 2017. In connection with the claim reconciliation process, the Debtor averred that it has negotiated a settlement with two significant creditors that resolves more than $700,000 of asserted claims and provides for the distribution of funds to other not-for-profit corporations advancing the Debtor's mission. Additionally, the Debtor told the Court that it has pursued its rights to a $250,000 good faith deposit placed in escrow by Weiner Holdings LLC in connection with a previous sale of the Walden Property that was never consummated. In May 2017, the Debtor participated in mediation with Weiner Holdings that concluded without settlement, and on July 3, filed a complaint against Weiner Holdings seeking, among other things, turnover of the deposit. Subsequently, the Debtor successfully defeated Weiner Holdings' motion to lift the automatic stay and compel arbitration with respect to the deposit dispute. After resuming negotiations, the Parties reached a settlement that is scheduled to be considered by the Court on October 31. That case is, TBAC Wind Down, Ltd. v. Weiner Holdings LLC and Executive Abstract Group, Inc., Adv. Pro. No. 17-01090 (SHL). During the last several months, the Debtor claimed that it was also awarded and collected a grant of more than $134,000 by the New York City Department of Cultural Affairs for work performed during the 2016 fiscal year, which funds will be distributed under the Plan. About The Big Apple Circus The Big Apple Circus, Ltd., filed a chapter 11 petition (Bankr. S.D.N.Y. Case No. 16-13297) on Nov. 20, 2016. The petition was signed by Will Maitland Weiss, executive director. The Debtor is a Type B not-for-profit corporation organized under section 201 of the New York Not-for-Profit Corporation Law that is exempt from federal taxes under section 501(c)(3) of the Internal Revenue Code. Founded in 1977 by Paul Binder and Michael Christensen to establish a performing circus and school for the instruction and artistic development of circus arts, the Debtor is a venerated, New York cultural institution renowned for its critically-acclaimed performances and dedicated community programs. The Debtor estimated assets and liabilities at $1 million to $10 million at the time of the filing. The Debtor retained Natasha M. Labovitz, Esq. and Christopher Updike, Esq., of Debevoise & Plimpton LLP, as bankruptcy counsel; Donlin, Recano & Company, Inc., as claims and noticing agent; and Goldin Associates, LLC, as financial advisor, all of whom agreed to provide their services on a pro bono basis in light of the Debtor's not-for-profit status. An official committee of unsecured creditors has been appointed in the case, and is represented by Robert J. Feinstein, Esq., Maria Bove, Esq., and Steven W. Golden, Esq., at Pachulski Stang Ziehl & Jones LLP. CANNABIS SCIENCE: Has 5-Year Collaboration Pact with Dana-Farber ---------------------------------------------------------------- Cannabis Science, Inc., entered into a new research collaboration agreement with Dana-Farber Cancer Institute, Inc., a Massachusetts not-for-profit corporation, having its principal offices at 450 Brookline Avenue, Boston, MA 02215. This Agreement builds on a Research Collaboration Agreement entered into between the Company and the Institute on Jan. 3, 2017, and expands the scope of the working relationship of the parties. Pursuant to the Agreement, the Institute has developed know-how and expertise in the treatment of cancer and desires to obtain funding and technical support from the Company to further such research. The Company would like to establish a consortium of academic investigators from several U.S. not-for-profit institutions, and would like the Institute to be the lead institution to develop and investigate the use of cannabinoids to cure various cancers, investigate synergies with radiotherapy and immunotherapy, and obtain certain data and rights to inventions developed during research funded by the Company. This consortium will operate as a virtual institute/consortium involving researchers from different institutions conducting research on medical cannabis for treatment of cancers and other indications. The research would also include investigating synergies in the use of cannabinoids in combination with standard treatment approaches such as radiotherapy and immunotherapy. Seed funding for the consortium/virtual institute will be provided by the Company. The virtual institute will be dedicated to conducting medical cannabis research and complementary education activities. Collaborations amongst consortium Principal Investigators will be designed to accelerate clinical translation (with FDA approval) of medical cannabis for cancer and other indications without the usual side effects that have hitherto hampered clinical translation. The specific aims that will be supported under the new Agreement will include: -- Develop unique cannabinoid-delivery technology; -- Conduct scale-up studies to validate and optimize treatment parameters when using the developed delivery technologies/products; -- Investigate the use of cannabinoids in greater effective management of pain during chemoradiotherapy; and -- Establish core research facility for extracting/analyzing and loading of superior grade cannabinoids in different precision delivery technologies towards treatment of different indications without the side effects that have been a barrier to clinical translation. The term of the Agreement is for five years. In consideration for the Agreement and performance of the Research, the Company shall pay the Institute $1,834,062, payable in yearly installments. Each Party will have the right to seek additional third-party funding for the Research and in the case of the Company, for commercialization of all Inventions derived as a result of the Agreement and both parties shall mutually agree on the terms and conditions (outside of the terms of the Agreement) for any third-party research funding. About Cannabis Science Cannabis Science, Inc., was incorporated under the laws of the State of Colorado, on Feb. 29, 1996, as Patriot Holdings, Inc. Cannabis is at the forefront of medical marijuana research and development. The Company works with world authorities on phytocannabinoid science targeting critical illnesses, and adheres to scientific methodologies to develop, produce, and commercialize phytocannabinoid-based pharmaceutical products. Cannabis reported a net loss of $10.19 million on $9,263 of revenue for the year ended Dec 31, 2016, compared with a net loss of $19.14 million on $44,227 revenue for the year ended Dec. 31, 2015. As of June 30, 2017, Cannabis had $2.69 million in total assets, $5.22 million in total liabilities and a $2.53 million total stockholders' deficit. Turner, Stone & Company, L.L.P., issued a "going concern" qualification on the consolidated financial statements for the year ended Dec. 31, 2016. The auditors noted that the Company has suffered recurring losses from operations since inception, has a working capital deficiency and will need to raise additional capital to fund its business operations and plans. Furthermore, there is no assurance that any capital raise will be sufficient to complete the Company's business plans. These conditions raise substantial doubt about the Company's ability to continue as a going concern. CARRIER TRUCKING: Wants to Use Cash Collateral on Operations ------------------------------------------------------------ Carrier Trucking, Inc., seeks permission from the U.S. Bankruptcy Court for the Middle District of Florida to use cash collateral, nunc pro tunc to Sept. 23, 2017. The Debtor estimates that its interest in property that may be considered cash collateral consists primarily of accounts receivable. In 2015, BET-ER Mix, one of the Debtor's customers, informed Debtor that BET-ER Mix would be increasing the business that it sends to the Debtor. As a result, the Debtor purchased an additional five tractor trucks and an additional five trailers. The Debtor financed the vehicles through TCH and Scottrade Bank. Scottrade filed a UCC financing statement asserting a lien in the Debtor's accounts receivable. Subsequently, BET-ER Mix cut the business that it was sending Debtor by 50%, and in November 2016, BET-ER Mix pulled all of its business from Debtor resulting in the Debtor's inability to make all of the payments on its vehicles. Prior to the Petition Date, secured creditor TCF repossessed three tractor trucks and one trailer, and Scottrade accelerated the loans for two of the Debtor's tractor trucks and two of the Debtor's trailers and has threatened to repossess same. The Debtor believes that Scottrade may have a security interest and lien in both Debtor's assets that may constitute cash collateral. As of the Petition Date, the Debtor had $21,299.28 in accounts receivable and $6,469.73 in its bank account. Scottrade asserts a claim for $147,573.35 against the Debtor. To provide adequate protection of the interests of Scottrade, Debtor proposes granting replacement liens in the Debtor's post-petition accounts receivable. The post-petition liens would be granted to the same extent, validity, and priority of their respective liens in cash collateral as of the Petition Date. The Debtor says it must have access to and authorization to use cash collateral to generate revenue used for: (a) the cost, maintenance, and preservation of the estate's assets; (b) payment of necessary payroll and other operating expenses; and (c) other payments necessary to sustain constant business operations. A short-term cash budget will be filed prior to the preliminary hearing reflecting the Debtor's immediate cash needs for the next several weeks. The use of cash collateral is necessary to avoid immediate and irreparable harm to the Debtor's estate, to maintain business operations, and to preserve value for all creditors. The Debtor proposes to use cash collateral in accordance with the Budget for, among other things, payment of necessary payroll and other ordinary business expenses related to its operations. A copy of the Debtor's Motion is available at: http://bankrupt.com/misc/flmb17-08163-5.pdf About Carrier Trucking Headquartered in Spring Hill, Florida, Carrier Trucking, Inc., is a trucking company specializing in transporting heavy building materials. It has five employees and is located at 19400 Fort Dade Avenue, Brooksville, Florida 34609. Carrier Trucking filed for Chapter 11 bankruptcy protection (Bankr. M.D. Fla. Case No. 17-08163) on Sept. 23, 2017, estimating its assets and liabilities at between $100,001 and $500,000. Suzy Tate, Esq., at Suzy Tate, P.A., serves as the Debtor's bankruptcy counsel. CENTRAL GROCERS: Taps iDiscovery as Data Preservation Provider -------------------------------------------------------------- Central Grocers, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to hire iDiscovery Solutions. The firm will provide data preservation and data management services related to the Chapter 11 cases of the company and its affiliates, particularly involving issues that may arise in connection with the sale of their assets, the liquidation of the estates, and a possible relocation. The firm's standard hourly rates are: Consultants $185 - $230 Senior Consultants $220 - $305 Managers $300 - $370 Directors $420 - $700 Expert Testimony $500 - $700 Neal Lawson, president of iDiscovery Solutions, disclosed in a court filing that his firm is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Neal Lawson iDiscovery Solutions 3000 K Street NW, Suite 330 Washington, DC 20007 Phone: 202-249-7860 About Central Grocers Inc. Joliet, Illinois-based Central Grocers, Inc. -- http://www.central-grocers.com/-- is a supplier to independent grocery stores in the Midwestern United States. Formed in 1917, Central Grocers is organized as a retail cooperative (co-op) owned by the independent supermarket retailers that it supplies. Central Grocers is the seventh largest grocery cooperative in the United States. It supplies over 400 stores in the Chicago area with groceries, produce, fresh meat, service deli items, frozen foods, ice cream and exclusively the Centrella Brand distributor. Sales have grown to $2 billion per year over the past 94 years. Central Grocers and its affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case Nos. 17-10992 to 17-11003) between May 2 and May 4, 2017. Central Grocers estimated $100 million to $500 million in assets and liabilities. The petitions were signed by Donald E. Harer, chief restructuring officer. Prior to the Chapter 11 filing, certain creditors of CGI filed an involuntary case against the company under Chapter 7. The case was filed in the U.S. Bankruptcy Court for the Northern District of Illinois on May 2, 2017. On June 13, 2017, the Chapter 11 cases were transferred to the Illinois court, including CGI's case which was consolidated into the involuntary Chapter 7 case pending before the Illinois court. All the Chapter 11 cases are proceeding before the Illinois court, and are being jointly administered under Case No. 17-13886 for procedural purposes only. CGI's petition date is May 2, 2017 while the petition date for the other Debtors is May 4, 2017. Judge Pamela S. Hollis presides over the cases. Weil, Gotshal & Manges LLP serves as the Debtors' bankruptcy counsel. The Debtors also hired Richards, Layton & Finger P.A. as local counsel; McDonald Hopkins LLC as local counsel and conflicts counsel; Lavelle Law, Ltd., as general corporate counsel; Conway Mackenzie Inc. as chief restructuring officer; Peter J. Solomon Company as investment banker; and Prime Clerk as claims and noticing agent. Meanwhile, HYPERAMS, LLC and Tiger Capital Group, LLC were employed as liquidation consultants. An official committee of unsecured creditors was appointed by the Office of the U.S trustee on May 15, 2017. The committee retained Kilpatrick Townsend & Stockton LLP as bankruptcy counsel; Saul Ewing LLP as Delaware counsel; and FTI Consulting, Inc. as financial advisor; and Reid Collins & Tsai LLP as special litigation counsel. CENTRAL GROCERS: Taps RCC to Collect Non-Insider Receivables ------------------------------------------------------------ Central Grocers, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to hire Receivables Control Corp. The firm will assist the company in collecting payments from non-insider members who purchased goods on credit. There are 480 non-insider members who have unpaid balances due to the company. CGI's total receivables from non-insider members total approximately $14.2 million. Approximately 220 of these non-insider members owe the company less than $100,000. CGI will compensate the firm based on this contingency rate schedule: Total Dollars Collected Contingency Fee ----------------------- --------------- $1 – $1 million 10% $1 million – $2 million 13% $2 million – $3 million 16% $3 million – $4 million 19% Over $4 million 22.5% Kurt Huizinga, a managing director of RCC, disclosed in a court filing that his firm is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. RCC can be reached through: Kurt Huizinga Receivables Control Corp. 7373 Kirkwood Court Suite 200 Maple Grove, MN 55369 Phone: 763-315-9600 About Central Grocers Inc. Joliet, Illinois-based Central Grocers, Inc. -- http://www.central-grocers.com/-- is a supplier to independent grocery stores in the Midwestern United States. Formed in 1917, Central Grocers is organized as a retail cooperative (co-op) owned by the independent supermarket retailers that it supplies. Central Grocers is the seventh largest grocery cooperative in the United States. It supplies over 400 stores in the Chicago area with groceries, produce, fresh meat, service deli items, frozen foods, ice cream and exclusively the Centrella Brand distributor. Sales have grown to $2 billion per year over the past 94 years. Central Grocers and its affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case Nos. 17-10992 to 17-11003) between May 2 and May 4, 2017. Central Grocers estimated $100 million to $500 million in assets and liabilities. The petitions were signed by Donald E. Harer, chief restructuring officer. Prior to the Chapter 11 filing, certain creditors of CGI filed an involuntary case against the company under Chapter 7. The case was filed in the U.S. Bankruptcy Court for the Northern District of Illinois on May 2, 2017. On June 13, 2017, the Chapter 11 cases were transferred to the Illinois court, including CGI's case which was consolidated into the involuntary Chapter 7 case pending before the Illinois court. All the Chapter 11 cases are proceeding before the Illinois court, and are being jointly administered under Case No. 17-13886 for procedural purposes only. CGI's petition date is May 2, 2017 while the petition date for the other Debtors is May 4, 2017. Judge Pamela S. Hollis presides over the cases. Weil, Gotshal & Manges LLP serves as the Debtors' bankruptcy counsel. The Debtors also hired Richards, Layton & Finger P.A. as local counsel; McDonald Hopkins LLC as local counsel and conflicts counsel; Lavelle Law, Ltd., as general corporate counsel; Conway Mackenzie Inc. as chief restructuring officer; Peter J. Solomon Company as investment banker; and Prime Clerk as claims and noticing agent. Meanwhile, HYPERAMS, LLC and Tiger Capital Group, LLC were employed as liquidation consultants. An official committee of unsecured creditors was appointed by the Office of the U.S trustee on May 15, 2017. The committee retained Kilpatrick Townsend & Stockton LLP as bankruptcy counsel; Saul Ewing LLP as Delaware counsel; and FTI Consulting, Inc. as financial advisor; and Reid Collins & Tsai LLP as special litigation counsel. COCOA SERVICES: Gets Approval to Hire Deloitte's Frezza as CRO -------------------------------------------------------------- Cocoa Services, LLC and Morgan Drive Associates, LLC received approval from the U.S. Bankruptcy Court for the Southern District of New York to hire Deloitte Transactions and Business Analytics LLP and Robert Frezza as their chief restructuring officer. The services to be provided by DTBA and Mr. Frezza, managing director of Deloitte Financial Advisory Services LLP, include: (a) assessing the Debtors' current business plan and operations; (b) developing and overseeing implementation of the Debtors' approved financial turnaround strategy; (c) overseeing the relationship with Cocoa Services' lender and other creditors and contractual counterparties; (d) monitoring the movement of the Debtors' assets; (e) reviewing, analyzing and providing input on the Debtors' 13-week cash flow forecast and other financial reports requested by Cocoa Services' lender and its advisors; (f) reviewing, analyzing and providing input on the Debtors' cash management and cash flow forecasting process; (g) advising the Debtors on their corporate governance and management structure; and (h) meeting with the Board of Managers on a regular basis to discuss, among other things, engagement progress and financial. DTBA's professional fees will be at the rate of $175 to $795 an hour, depending on the personnel assigned to a particular task. In addition, the firm will be paid an administrative expense of 3% of professional fees. Meanwhile, the CRO will charge $595 per hour, not to exceed $25,000 per week. Prior to the petition date, the firm received retainers in the total amount of $110,000. Mr. Frezza disclosed in a court filing that he and DTBA do not hold any interest adverse to the Debtors. The firm can be reached through: Robert J. Frezza Deloitte Financial Advisory Services LLP 100 Kimball Drive Parsippany, NJ 07054 About Cocoa Services Cocoa Services, L.L.C., operates a cocoa liquor and cocoa butter melting and deodorizing facility in Logan Township, Gloucester County, New Jersey. Morgan Drive Associates LLC is a real estate holding company that owns the land and building where Cocoa Services operates. Cocoa Services and Morgan Drive are affiliates of and wholly-owned subsidiaries of Transmar Commodity Group, Ltd. TCG filed a Chapter 11 petition (Bankr. S.D.N.Y. Case No. 16-13625) on Dec. 31, 2016, estimating assets and debt of $100 million and $500 million. The case is pending before the Honorable James L. Garrity, Jr. Cocoa Services, L.L.C., and Morgan Drive Associates, L.L.C., sought Chapter 11 protection (Bankr. S.D.N.Y. 17-11936 and 17-11938) on July 14, 2017. The cases are also pending before Judge Garrity. Cocoa Services disclosed total assets of $18.34 million and total liabilities of $18.55 million as of July 11, 2017. Riker Danzig Scherer Hyland & Perretti LLP is serving as counsel to the Debtors. Klestadt Winters Jureller Southard & Stevens, LLP, is local counsel. Prime Clerk LLC is the claims and noticing agent. COUNTERPATH CORP: Lack of Profitability Raises Going Concern Doubt ------------------------------------------------------------------ CounterPath Corporation filed its quarterly report on Form 10-Q, disclosing a net loss of $1,152,533 on $3,112,806 of total revenue for the three months ended July 31, 2017, compared with a net loss of $363,911 on $3,025,994 of total revenue for the same period in 2016. At July 31, 2017, the Company had total assets of $12.84 million, total liabilities of $4.15 million, and $8.68 million in total stockholders' equity. The Company has experienced flat to declining revenues as a result of a number of factors including its buildout of a cloud based subscription platform concurrent with the change of its licensing model to subscription based licensing and has not reached profitable operations which raises substantial doubt about its ability to continue operating as a going concern within one year of the date of the financial statements. The Company has historically been able to manage liquidity requirements through cost management and cost reduction measures, supplemented with raising additional financing. To alleviate this situation, the Company has plans in place to improve its financial position and liquidity, while executing on its growth strategy, by managing and or reducing costs that are not expected to have an adverse impact on the ability to generate cash flows. In addition, the Company has historically been able to raise additional financing to assist with the Company's transition. A full-text copy of the Form 10-Q is available for free at: https://is.gd/oqT4gE About CounterPath CounterPath Corporation focuses on the design, development, marketing and sales of software applications and related services, such as pre and post sales technical support and customization services, that enable enterprises and telecommunication service providers to deliver Unified Communications (UC) services, including voice, video, messaging and collaboration functionality, over their Internet Protocol, or IP, based networks. The Company's products are sold either directly or through channel partners, to small, medium and large businesses ("enterprises") and telecom service providers, in North America, and in Europe, Middle East, Africa ("collectively EMEA"), Asia Pacific and Latin America. CRANBERRY GROWERS: Has Court's Interim Nod to Obtain DIP Financing ------------------------------------------------------------------ The Hon. Catherine J. Furay of the U.S. Bankruptcy Court for the Western District of Wisconsin has granted Cranberry Growers Cooperative interim authorization to obtain senior secured postpetition financing on a super-priority basis. The final hearing on approval of the DIP Facility is scheduled for Oct. 27, 2017, at 11:00 a.m. (prevailing central time). As reported by the Troubled Company Reporter on Oct. 5, 2017, the Debtor has sought Court approval to access postpetition Debtor-in-Possession financing from CoBank ACB and to use cash collateral of CoBank arising from a prepetition secured loan to the Debtor. The proposed 19-Week Budget provides total operating disbursements of approximately $2,776,329 and total non-operating disbursements in the aggregate sum of $3,168,530 during the week ending Sept. 10, 2017 through Jan. 21, 2018. Any cash collateral of the Lender used by the Debtor since the commencement of the Debtor's case will constitute postpetition indebtedness under the DIP Facility. The Debtor is not authorized to use the Lender's cash collateral (other than to the extent advances under the DIP Facility constitute cash collateral). On a daily basis, the Debtor will pay over to the Lender all cash proceeds (and cash equivalents) of collateral for application to the Pre-Petition Indebtedness and the Post-Petition Indebtedness as provided in the Credit Agreement. The payment made by Graceland Fruit, Inc., to the Debtor in October and November 2017 for the purchase of up to $1 million for frozen cranberries from the 2017 crop, may be remitted by the Debtor to its grower members for 2017 crop deliveries in accordance with the budget, unless Lender has made an advance under the DIP Facility to permit the Debtor to make the payments to growers. A copy of the Interim Order is available at: http://bankrupt.com/misc/wiwb17-13318-47.pdf About Cranberry Growers Cranberry Growers Cooperative (CranGrow) -- https://www.crangrow.com/ -- is a group of cranberry growers based in Warrens, Wisconsin, USA. CranGrow currently has 40 grower members, and it is these members that own the co-op. The co-op's growers range in size from small to very large cranberry marshes, most of which have been family owned and operated for generations. Some have been in operation for over 100 years. CranGrow produces sliced sweetened dried cranberries, whole sweetened dried cranberries, single strength juice (not from concentrate), 50 and 65 brix concentrate, and cranberry seed pomace. Unlike many cranberry processors, CranGrow actually grows the fruit and process it themselves. Cranberry Growers Cooperative filed a Chapter 11 petition (Bankr. W.D. Wis. Case No. 17-13318) on Sept. 25, 2017. The petition was signed by James Reed, chief executive officer. At the time of filing, the Debtor estimated $1 million to $10 million in both assets and liabilities. The Debtor's counsel is Justin M. Mertz, Esq., at Michael Best & Friedrich LLP. The Debtor's financial and restructuring advisor is Sierra Constellation Partners LLC; and the firm's Winston Mar serves as the Debtor's chief restructuring officer. CRYSTAL ENTERPRISES: SFS, U.S. Foods to be Paid in 74 Mos. ---------------------------------------------------------- Crystal Enterprises, Inc., proposes to make a monthly payment of $5,404.32 to Strategic Funding Source, Inc., over 74 months, according to the company's latest Chapter 11 plan of reorganization. Strategic Funding holds an allowed Class 1 secured claim in the amount of $394,515. Meanwhile, U.S. Foods LLC, another secured creditor, will receive payments in the amount of $2,425.70 per month for 74 months. The company holds an allowed Class 2 secured claim in the amount of $177,076.59. Claims of Citizens Bank, N.A. and Toyota Motor Credit are no longer classified as secured under the latest plan, according to Crystal Enterprises' latest disclosure statement filed on Sept. 26 with the U.S. Bankruptcy Court in Maryland. A copy of the third amended disclosure statement is available for free at: http://bankrupt.com/misc/mdb16-22565-218.pdf About Crystal Enterprises Crystal Enterprises, Inc. is in the business of operating a food service company and is located in Glenn Dale, Maryland. Crystal Enterprises filed a Chapter 11 petition (Bankr. D. Md. Case No. 16-22565), on Sept. 19, 2016. The petition was signed by Sandra Thurman Custis, president. The case is assigned to Judge Wendelin I. Lipp. At the time of filing, the Debtor disclosed total assets of $114,844 and total liabilities of $3.36 million. The Debtor is represented by Rowena Nicole Nelson, Esq., at the Law Office of Rowena N. Nelson, LLC. No trustee, examiner or official committees has been appointed. DAWSON OIL: Wants Plan Exclusivity Extended to Dec. 21 ------------------------------------------------------ Dawson Oil Company, LLC and CEF Energy, LLC request the U.S. Bankruptcy Court for the Northern District of Iowa to further extend the periods within which both Debtors have the exclusive right to file a Chapter 11 Plan of Reorganization and solicit acceptances of that filed plan to December 21, 2017 and February 21, 2018, respectively. Dawson Oil and CEF Energy filed their Chapter 11 petitions on June 8, 2017. Pursuant to an Extension Order entered August 22, 2017, the Court extended the statutory exclusivity period for their affiliates, Fauser Oil Co. Inc., Ron's L.P. Gas Service LLC, Dawson Oil Company, Fauser Transport Inc., CEF Energy and Fauser Energy Resources Inc. and Fauser Transport Inc. On October 1, 2017 the so-called First Debtors -- Fauser Oil, Ron's L.P., Fauser Energy and Fauser Transport -- duly filed a Motion seeking to extend their exclusivity periods for filing a Chapter 11 Plan through December 21, and for soliciting acceptances to the Plan through February 21. Dawson Oil and CEF Energy relate that since the date of filing the First Exclusivity Extension Motion, the Debtors successfully negotiated the sale of substantially all of the assets of debtors Fauser Oil and Ron's L.P. The sale received Court Approval by Order dated September 19, 2017, and closed on September 29. The Debtors anticipate that the majority of their creditors' claims will be paid from the sale proceeds. However, the Debtors contend they need more time to complete their claims analysis and to determine the disposition of the remaining assets of their estates. Specifically, the Debtors assert that requested extension will ensure that Dawson Oil and CEF Energy's exclusivity periods will be identical to the extended exclusivity periods of the First Debtors, and will allow all the Debtors the time necessary to formulate a confirmable chapter 11 plan in an orderly manner which will be of substantial benefit to the estate and the Debtors' creditors. About Fauser Oil Co. Elgin, Iowa-based Fauser Energy Resources, Inc. -- http://www.fauserenergy.com/-- supplies and delivers propane and fuel products to residential and commercial customers throughout the Midwest region of the U.S. Fauser Oil Co. Inc., Fauser Energy Resources Inc., Fauser Transport Inc. and Ron's L.P. Gas Service LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Iowa Lead Case No. 17-00466) on April 24, 2017. Paul Fauser, president, signed the petition. On July 7, 2017, the Court entered an order jointly administering all of the Debtors' Cases. At the time of the filing, Fauser Energy estimated its assets and debt at $1 million to $10 million. Judge Thad J. Collins presides over the case. Sweet DeMarb LLC serves as counsel to the Debtors, with the engagement led by James D. Sweet, Esq., and Rebecca R. DeMarb, Esq. Yara El-Farhan Halloush, Esq., of Halloush Law Office, P.C., is the Debtors' local co-counsel. Ravinia Capital LLC is the Debtor's investment banker and financial advisor. On May 12, 2017, the Office of the U.S. Trustee appointed an official committee of unsecured creditors for Fauser Oil. No creditors' committee has been appointed for the other Debtors. The Fauser Oil Committee retained Pepper Hamilton as legal counsel and Cutler Law Firm, P.C., as associate counsel. DIAMONDHEAD CASINO: Incurs $114K Net Loss in First Quarter ---------------------------------------------------------- Diamondhead Casino Corporation filed with the Securities and Exchange Commission its quarterly report on Form 10-Q reporting a net loss applicable to common stockholders of $114,065 for the three months ended March 31, 2017, compared to a net loss applicable to common stockholders of $384,448 for the three months ended March 31, 2016. As of March 31, 2017, Diamondhead Casino had $5.58 million in total assets, $9.15 million in total liabilities and a total stockholders' deficiency of $3.57 million. The Company has no operations and generates no operating revenues. During the three months ended March 31, 2017, and 2016 the Company incurred net losses applicable to common shareholders, exclusive of the recording of change in the fair value of derivatives, of $326,723 and $338,874, respectively. The Company has had no operations since it ended its gambling cruise ship operations in 2000. Since that time, the Company has concentrated its efforts on the development of its Diamondhead, Mississippi Property. The development of the Diamondhead Property is dependent on obtaining the necessary capital, through equity and/or debt financing, unilaterally, or in conjunction with one or more partners, to master plan, design, obtain permits for, construct, staff, open, and operate a casino resort. A full-text copy of the Form 10-Q is available for free at: https://is.gd/Gp5gzb About Diamondhead Casino Largo, Fla.-based Diamondhead Casino Corporation, from inception through approximately August of 2000, operated gaming vessels in international waters. The Company eventually divested itself of its gaming operations to satisfy financial obligations to its vendors, lenders and taxing authorities and to focus its resources on the development of a casino resort in Diamondhead, Mississippi. The Company owns, through its wholly-owned subsidiary, Mississippi Gaming Corporation, an approximate 404.5 acre tract of unimproved land in Diamondhead, Mississippi. The property is located at 7051 Interstate 10. The Company intends, in conjunction with unrelated third parties, to develop the site in phases beginning with a casino resort. The casino resort is expected to include a casino, a hotel and spa, pools, a sport and entertainment center, a conference center and a state-of-the-art recreational vehicle park. Diamondhead reported a net loss applicable to common stockholders of $1.28 million for the year ended Dec. 31, 2016, compared to net income applicable to common stockholders of $53,242 for the year ended Dec. 31, 2015. As of June 30, 2017, Diamondhead had $5.57 million in total assets, $9.26 million in total liabilities, and a $3.69 million total stockholders' deficiency. Friedman LLP, in New York, issued a "going concern" qualification on the consolidated financial statements for the year ended Dec. 31, 2016, citing that the Company has incurred significant recurring net losses over the past several years. In addition, the Company has no operations, except for its efforts to develop the Diamondhead, Mississippi property. Those efforts may not contribute to the Company's cash flows for the foreseeable future. These conditions raise substantial doubt about the Company's ability to continue as a going concern. The Company's continued existence is dependent upon its ability to raise the necessary capital with which to satisfy liabilities, fund future costs and expenses and develop the Diamondhead, Mississippi property. DICK CAMPBELL: Intends to File Chapter 11 Plan by February 2018 --------------------------------------------------------------- Dick Campbell Company, Inc. asks the U.S. Bankruptcy Court for the District of Idaho to extend the exclusivity periods for the Debtor to file a plan until February 15, 2018, and to obtain acceptance of that filed plan until April 16, 2018. About Dick Campbell Company Based in Boise, Idaho, Dick Campbell Company, Inc. manufactures transportation signaling devices. It sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Idaho Case No. 17-00756) on June 14, 2017. Phil Tate, its president, signed the petition. At the time of the filing, the Debtor disclosed $2.63 million in assets and $2.73 million in liabilities. Judge Jim D. Pappas presides over the case. Bruce A. Anderson, Esq., at Elsaesser Jarzabek Anderson Elliot & Macdonald, Chtd., serves as bankruptcy counsel. The Debtor hired Holland Law LLP as special counsel. DIFFUSION PHARMACEUTICALS: May Issue 2.2M Shares Under 2015 Plan ---------------------------------------------------------------- Diffusion Pharmcaeuticals Inc. filed with the Securities and Exchange Commission a Form S-8 registration statement to register 2,159,074 additional shares of Common Stock under the 2015 Equity Incentive Plan, as amended, which includes: (i) 1,495,249 shares of Common Stock underlying options assumed by the Company pursuant to the consummation of the merger with Diffusion Pharmaceuticals LLC as described in the Company's Current Report on Form 8-K filed on Jan. 8, 2016; (ii) 250,000 shares of Common Stock related to an amendment to the Plan increasing the number of shares reserved for issuance thereunder, which was approved by the stockholders of the Company at the 2016 Annual Meeting on July 21, 2016; and (iii) 413,825 shares of Common Stock related to an automatic increase in the number of shares reserved for issuance under the Plan on Jan. 1, 2017, pursuant to the provisions thereof. The additional shares are of the same class as other securities relating to the Plan for which the Company's registration statements on Form S-8 filed with the Commission on August 14, 2015 (Registration No. 333-206408) are effective. All share amounts in this Registration Statement have been adjusted to reflect the Company's 1-to-10 reverse stock split on Aug. 17, 2016. A full-text copy of the Form S-8 prospectus is available at: https://is.gd/ZjZBD6 About Diffusion Pharmaceuticals Diffusion Pharmaceuticals, a surviving entity in its merger with RestorGenex, is a clinical stage biotechnology company focused on extending the life expectancy of cancer patients by improving the effectiveness of current standard-of-care treatments including radiation therapy and chemotherapy. Diffusion is developing its lead drug, trans sodium crocetinate (TSC), for use in the many cancer types in which tumor hypoxia (oxygen deprivation) is known to diminish the effectiveness of current treatments. TSC targets the cancer's hypoxic micro-environment, re-oxygenating treatment-resistant tissue and making the cancer cells more vulnerable to the therapeutic effects of treatments such as radiation therapy and chemotherapy, without the apparent addition of any serious side effects. TSC has potential application in other indications involving hypoxia, such as stroke and neurodegenerative diseases. Diffusion reported a net loss of $18.03 million for the year ended Dec. 31, 2016, compared to a net loss of $6.71 million for the year ended Dec. 31, 2015. As of June 30, 2017, Diffusion had $33.90 million in total assets, $32.73 million in total liabilities and $1.16 million in total stockholders' equity. KPMG LLP, in McLean, Virginia, issued a "going concern" qualification on the consolidated financial statements for the year ended Dec. 31, 2016, citing that the Company has suffered recurring losses from operations, has limited resources available to fund current research and development activities, and will require substantial additional financing to continue to fund its research and development activities. These conditions raise substantial doubt about its ability to continue as a going concern. DIFFUSION PHARMACEUTICALS: Registered 26.46M Shares for Resale -------------------------------------------------------------- Diffusion Pharmaceuticals Inc. filed with the Securities and Exchange Commission a Form S-3 registration statement relating to the resale or other disposition from time to time by ABG - USL1 Limited, AR Properties C/O Dennis Repp, David G. Schmidt, et al., of up to 26,467,801 shares of the common stock, $0.001 par value per share, of the Company. Of these shares, (a) 12,376,329 are issued and outstanding as a result of, or issuable upon, the conversion of the Company's outstanding shares of Series A convertible preferred stock, $0.001 par value per share, (b) 13,555,887 are issued and outstanding as a result of, or issuable upon, the exercise of warrants to purchase shares of Common Stock and (c) an estimated 535,585 are issuable as payment of dividends accruing through Oct. 1, 2017, with respect to the Series A Preferred Stock. The Selling Stockholders acquired all of the securities covered by this prospectus in connection with a private placement transaction in which the Company sold the Series A Preferred Stock and Warrants to accredited investors in closings conducted on March 14, 2017, and March 31, 2017. The Company registered the resale or other disposition of the shares of Common Stock to satisfy registration rights it has granted to the Selling Stockholders. The Company's registration of the shares of Common Stock covered by this prospectus does not mean that the Selling Stockholders will offer or sell any of the shares. The Selling Stockholders (including their donees, pledgees, transferees or other successors-in-interest) may, from time to time, resell or otherwise dispose of any or all of the shares of Common Stock described in this prospectus on any stock exchange, market or trading facility on which the shares are traded or in private transactions. These sales may be at fixed or negotiated prices, and may be to or through underwriters, broker-dealers or agents, who may receive compensation in the form of discounts, concessions or commissions. The Selling Stockholders will pay all underwriting discounts, commissions and any similar expenses it incurs, if any, in connection with the sale of the shares of Common Stock, and any related legal expenses incurred by it. The Company has agreed to pay certain expenses in connection with this registration statement and to indemnify the Selling Stockholders against certain liabilities. None of the Company's shares of Common Stock may be sold without delivery of the applicable prospectus supplement describing the method and terms of the offering of the Common Stock. The Company is not selling any shares of Common Stock under this prospectus and will not receive any of the proceeds from the sale of shares of Common Stock by the Selling Stockholders. To the extent Warrants are exercised for cash, the Company will receive the exercise price thereof. A full-text copy of the prospectus is available for free at: https://is.gd/5j67xX About Diffusion Pharmaceuticals Diffusion Pharmaceuticals, a surviving entity in its merger with RestorGenex, is a clinical stage biotechnology company focused on extending the life expectancy of cancer patients by improving the effectiveness of current standard-of-care treatments including radiation therapy and chemotherapy. Diffusion is developing its lead drug, trans sodium crocetinate (TSC), for use in the many cancer types in which tumor hypoxia (oxygen deprivation) is known to diminish the effectiveness of current treatments. TSC targets the cancer's hypoxic micro-environment, re-oxygenating treatment-resistant tissue and making the cancer cells more vulnerable to the therapeutic effects of treatments such as radiation therapy and chemotherapy, without the apparent addition of any serious side effects. TSC has potential application in other indications involving hypoxia, such as stroke and neurodegenerative diseases. Diffusion reported a net loss of $18.03 million for the year ended Dec. 31, 2016, compared to a net loss of $6.71 million for the year ended Dec. 31, 2015. As of June 30, 2017, Diffusion had $33.90 million in total assets, $32.73 million in total liabilities and $1.16 million in total stockholders' equity. KPMG LLP, in McLean, Virginia, issued a "going concern" qualification on the consolidated financial statements for the year ended Dec. 31, 2016, citing that the Company has suffered recurring losses from operations, has limited resources available to fund current research and development activities, and will require substantial additional financing to continue to fund its research and development activities. These conditions raise substantial doubt about its ability to continue as a going concern. DON ROSE OIL: Trustee Taps Force Ten Partners as Financial Advisor ------------------------------------------------------------------ Howard Ehrenberg, the Chapter 11 trustee for Don Rose Oil Co., Inc., seeks approval from the U.S. Bankruptcy Court for the Eastern District of California to hire Force Ten Partners LLC. The firm will provide the trustee with financial advisory services in connection with the Debtor's Chapter 11 case. The firm's standard hourly rates are: Adam Meislik $450 Patrick Lacy $325 Other Partners $450 Paraprofessionals $195 - $225 Staff $195 - $225 Force Ten is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached through: Adam Meislik Force Ten Partners LLC 20341 SW Birch Suite 220 Newport Beach, CA 92660 Phone: (949) 357-2360 About Don Rose Oil Co. Inc. Founded in 1972, Don Rose Oil Co., Inc. is in the business of wholesale distribution of petroleum and petroleum products. Based in Visalia, California, the Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Calif. Case No. 17-12389) on June 22, 2017. John Castellucci, the Company's president and CEO, signed the petition. At the time of the filing, the Debtor estimated its assets at $50 million to $100 million and debts at $1 million to $10 million. Judge Fredrick E. Clement presides over the case. Riley C. Walter, Esq., at Walter Wilhelm Law Group, serves as the Debtor's bankruptcy counsel. The Debtor hired Brown Armstrong as its accountant and Williams, Brodersen, Pritchett LLP as its special counsel. On July 28, 2017, the Office of the U.S. Trustee appointed an official committee of unsecured creditors. Polsinelli LLP represents the committee as legal counsel. Howard Ehrenberg was appointed Chapter 11 trustee on September 11, 2017. The trustee hired Belden Blaine Raytis LLP as his legal counsel. DYNAMIC CONSTRUCTION: Wants to Enter Into Finance Pact With IPFS ---------------------------------------------------------------- Dynamic Construction Services, Inc., seeks authorization from the U.S. Bankruptcy Court for the Western District of Virginia to enter into insurance premium finance agreement with IPFS Corporation. In the ordinary course of business, the Debtor must maintain various insurance policies. The Debtor is, however, unable to pay in the ordinary course of business pursuant to 11 U.S.C. Section 364(a) the premiums for the insurance policies identified in the Agreement, and has been unable, after reasonable efforts, to obtain unsecured credit for such payment pursuant to 11 U.S.C. Section 364(b). The Debtor says it has engaged in discussions with various companies in the business of providing insurance premium financing, and has determined that IPFS offers the most advantageous terms for financing. The Agreement would require the Debtor to make a down payment to IPFS in the amount of $6,395.95, and to make monthly payments in the amount of $2,663.18 each over a term of 10 months. The annual percentage rate is 8.84% and the total amount financed under the Agreement is $26,631.80. The Agreement grants IPFS a lien and security interest in any and all unearned or return premiums and dividends which may become payable under the policies identified in the Agreement. This property is not otherwise subject to a lien. The Debtor requests that IPFS' lien and security interest in the premiums and dividends be senior to the rights of the Debtor's estate in this or any subsequent proceeding under the U.S. Bankruptcy Code and to the rights of any person claiming a lien or security interest in any assets of the Debtor. The Agreement also assigns to IPFS as security any loss payments under the policies which reduce the unearned premiums. The Debtor requests that IPFS' lien and security interest in the payments will be senior to the rights of the Debtor's estate in this or any subsequent proceedings under the Bankruptcy Code, but will be subject to the interest of any mortgagees or other payees. In the event of a default by the Debtor in making the monthly payments under the Agreement, but subject to a 10-day notice and cure period, the Agreement allows IPFS to cancel the insurance policies identified in the Agreement and apply to the Debtor's account the unearned or return premiums and dividends and, subject to the rights of mortgagees or other loss payees, any loss payments which reduce the unearned premiums. The Debtor also requests that any sums that remain due after IPFS has exercised its rights after default will be deemed an administrative expense of this estate, entitled to priority over any and all administrative expenses of the kind specified in 11 U.S.C. Section 503(b) or 507(b), pursuant to 11 U.S.C. Section 364(c)(1), whether incurred in the Debtor's Chapter 11 case or after conversion of the case to a case under Chapter 7 of the Bankruptcy Code. A copy of the Debtor's Motion is available at: http://bankrupt.com/misc/vawb17-50566-123.pdf About Dynamic Construction Headquartered in Greenville, Virginia, Dynamic Construction Services, Inc., is a small business Debtor as defined in 11 U.S.C. Section 101(51D). It listed its business under the utility system construction category. It is a full service utility and wireless communications contractor serving the mid-Atlantic region for the last 10 years. Dynamic Construction filed for Chapter 11 bankruptcy protection (Bankr. W.D. Va. Case No. 17-50566) on June 2, 2017, estimating its assets and liabilities at between $1 million and $10 million. The petition was signed by Charles Spangler, Jr., president. Judge Rebecca B. Connelly presides over the case. Andrew S Goldstein, Esq., at Magee Goldstein Lasky & Sayers, P.C., serves as the Debtor's bankruptcy counsel. An official committee of unsecured creditors has been appointed in the case. EASTGATE COMMERCE: Taps Greg Crowell as Property Manager -------------------------------------------------------- Eastgate Commerce Center, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Ohio to hire a property manager and leasing agent. The Debtor proposes to employ The Greg Crowell Co., Inc. to manage the Eastgate Commerce Center located in Union Township, Clemont County, Ohio. Crowell will receive a monthly management fee of 5% of gross revenues generated from the operation of the property. The firm will be paid monthly or on such other basis as the Debtor deems appropriate. The firm can be reached through: Gregory K. Crowell The Greg Crowell Co., Inc. 4357 Ferguson Drive, Suite 220 Cincinnati, OH 45245 (513) 943-0050 About Eastgate Commerce Center LLC Eastgate Commerce Center, LLC is a privately held company engaged in real estate development. It owns a real property located at 4440 Glen Este Withamsville Road, Cincinnati, Ohio, valued at $4.48 million. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Ohio Case No. 17-13486) on September 28, 2017. At the time of the filing, the Debtor disclosed $4.49 million in assets and $3.76 million in liabilities. Judge Jeffery P. Hopkins presides over the case. Goering & Goering represents the Debtor as bankruptcy counsel. On September 28, 2017, the Debtor filed a disclosure statement, which explains its proposed Chapter 11 plan of reorganization. ENGY GROUP: Wants $350,000 Financing From Mowery Plant ------------------------------------------------------ The Engy Group and its majority owner, Francois Stanislas Bellon, seek permission from the U.S. Bankruptcy Court for the Southern District of Texas to obtain unsecured credit from Mowery Plant, LLC. The Lender has offered to make an unsecured loan to the Debtor up to the total principal sum of $350,000 -- without interest, payable in accordance with the terms of the promissory note -- to be used for the purpose of paying professional fees allowed by court order. The loan is made pursuant to Section 364(b) of the U.S. Bankruptcy Code, as an administrative expense under Section 503(b)(1) of the Bankruptcy Code. All principal and any other amounts due under the promissory note is due and payable on or before Feb. 28, 2018. The obligor will have the right at any time and from time to time to prepay this note in whole or in part without premium or penalty. On Sept. 28, 2017, the Debtor entered into a binding settlement term sheet with KOP, Green Bank, N.A., Dr. Lo, and other related parties that settles all claims among the settling parties. Pursuant to the term sheet, Dr. Lo agreed to loan the principal sum of up to $350,000 to Mowery, which will, in turn, will make a DIP loan to the Debtors, to be used solely to pay professional fees allowed by court order. A copy of the Debtors' Motion is available at: http://bankrupt.com/misc/txsb17-34848-59.pdf About Engy Group Engy Group is private equity investment and energy management firm. It owns 94% of the equity units in Texas Engy Drums, LLC, a Texas limited liability company, and 100% of the equity units in Engy Belvoir Ventures LLC, a Texas limited liability company. Other investors own the remaining 6% of the equity interests in Engy Drums. The Engy Subsidiaries in turn own interests in Engy Southwest Container Products, Inc., a steel drum production business; Engy Belvoir Healthcare LLC, owner of a loan and option to buy a hospital; and Mowery Plant, LLC, the entity that owns the land and the physical plant at which the steel drums are produced. The Engy Group, LLC, filed a Chapter 11 petition (Bankr. S.D. Tex. Case No. 17-34848) on Aug. 8, 2017. The petition was signed by Francois-Stanislas Bellon, manager. At the time of filing, the Debtor estimated assets and liabilities between $10 million and $50 million. The case is assigned to Judge Marvin Isgur. The Debtor is represented by Kyung Shik Lee, Esq., at Diamond McCarthy LLP. No committee or trustee has been appointed in the Debtor's case. ESPLANADE HL: Needs More Time to Complete Asset Sale, File Plan --------------------------------------------------------------- Judge Carol A. Doyle of the U.S. Bankruptcy Court for the Northern District of Illinois will convene a hearing on October 12, 2017, at 10:30 a.m. to consider a request filed by Esplanade HL, LLC and its debtor-affiliates for an extension to and including December 15, 2017, and February 13, 2018, respectively, of the deadline to file a plan of reorganization, and the exclusive period during which only the Debtors may file a chapter 11 plan or plans of reorganization and solicit acceptances of that plan. This is the Debtor's fifth extension request. The Debtors state, among other things, that: (a) On August 23, 2017, the Court entered an Order which extended exclusivity and set the deadline to file a plan and disclosure statement as October 13. (b) On June 8, 2017, this Court entered an Order approving the sale of the EHL Property to VEREIT Acquisitions, LLC, which Sale Transaction closed on June 23, generating gross sale proceeds in the amount of $6,264,000. (c) On July 12, 2017, the Court also entered an order granting the 171 Belvidere Sale Motion and the sale closed on August 7, generating gross sale proceeds in the amount of $1,440,000. (d) On August 2, 2017, 2380 Esplanade Drive, LLC filed its Sale Motion. The 2380 Sale Motion was heard October 5 and an order was entered, authorizing the sale of the Esplanade Property for $1,900,000, but the sale of the Esplanade Property has not yet closed. (e) On September 21, 2017, 9501 W. 144th Place, LLC also filed its Sale Motion seeking to sell the 9501 Property for $3,500,000. The 9501 Sale Motion is scheduled to be heard on October 12. (f) On September 21, 2017, Esplanade HL, LLC filed its Sale Motion seeking to sell its "outlot" property for $180,000, and the Outlot Sale Motion is scheduled to be heard on October 12. The Debtors note that they have not been able to fully formulate an effective chapter 11 plan. The Debtors argue that absent the sale of the EHL Property, the Belvidere Property, and the 9501 Property, they are unlikely to generate enough funds to confirm a plan of liquidation. However, if each of these sales close, the Debtors assure the Court that they will be able to finalize a plan that likely pays the Debtors' creditors in full on account of their allowed claims. Moreover, the Debtors believe that this two-month extension of the Plan Deadline and the Exclusive Periods will allow them the necessary time to focus upon continuing on-going negotiations and proceeding toward a viable plan that will enable the reorganization of the Debtors. About Esplanade HL Esplanade HL, LLC, 2380 Esplanade Drive, LLC, 9501 W. 144th Place, LLC, and 171 W. Belvedere Road, and LLC, Big Rock Ranch, LLC, each filed Chapter 11 petitions (Bankr. N.D. Ill. Case Nos. 16-33008, 16-33010, 16-33011, 16-33013, and 16-33015, respectively) on Oct. 17, 2016. The cases are jointly administered under Case No. 16-33008. The petitions were signed by William Vander Velde III, sole member and manager. Big Rock Ranch estimated assets at $500,000 to $1 million and liabilities at $100,000 to $500,000. Judge Carol A. Doyle is the case judge. The Debtors' attorneys are Harold D. Israel, Esq., and Sean P. Williams, Esq., at Goldstein & McClintock, LLLP. A&G Realty Partners, LLC, was engaged as the Debtors' real estate advisors. FINTON CONSTRUCTION: May Use Cash Collateral Through Dec. 22 ------------------------------------------------------------ The Hon. A. Jay Cristol of the U.S. Bankruptcy Court for the Southern District of Florida has granted Finton Construction, Inc.'s fifth expedited motion seeking authorization to use cash collateral for an additional 90 days. The Debtor will be entitled to use cash collateral to pay all ordinary and necessary expenses in the ordinary course of its business for the purposes as set forth in the budget through and including 5:00 p.m. on Dec. 22, 2017. The Debtor is also authorized (1) to exceed any line item on the Budget by an amount equal to 10% of each line item; or (2) to exceed any line item by more than 10% so long as all amounts in excess of all line items for the Budget to not exceed 10% in the aggregate of the total Budget. All funds paid will be segregated into a new Debtor-in-Possession account for all cash collateral funds. The Debtor will pay all fees due pursuant to 28 U.S.C. Section 1930. A copy of the court order is available at: ttp://bankrupt.com/misc/flsb16-19221-260.pdf As reported by the Troubled Company Reporter on June 19, 2017, the Debtor sought court permission to use cash collateral for an additional 90 days to, among other things, fund all necessary operating expenses of its business as well as pay for regular and ordinary expenses of the Debtor as set forth in the budget. The proposed Budget provides total projected operating expenses of $102,268 for the month of June 2017, and $101,854 per month for the months of July through December 2017. About Finton Construction Finton Construction, Inc., is a construction company, claiming to build "finest homes" in the United States and overseas. Primary operations are on Star Island in Miami-Dade County, Florida. Finton Construction sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 16-19221) on June 30, 2016. The petition was signed by John Finton, president. The case is assigned to Judge Laurel M. Isicoff. At the time of the filing, the Debtor estimated its assets at $0 to $50,000 and debt at $1 million to $10 million. David L. Merrill, Esq., at Merrill PA, is serving as bankruptcy counsel to the Debtor. Andrew C. Callari, Esq., at Callari & Summers, A Law Partnership, is serving as special counsel in connection with its civil case. Kenneth J. Mueller, CPA, Cr., FA, has been tapped as accountant. No official committee of unsecured creditors has been appointed in the Chapter 11 case. G6 LIMITED: Voluntary Chapter 11 Case Summary --------------------------------------------- Debtor: G6 Limited Partnership 7101 Corrida De Venado Tucson, AZ 85718 Type of Business: G6 Limited is a small business debtor as defined in 11 U.S.C. Section 101(51D). Chapter 11 Petition Date: October 10, 2017 Case No.: 17-12003 Court: United States Bankruptcy Court District of Arizona (Tucson) Judge: Hon. Scott H. Gan Debtor's Counsel: Daniel J. Rylander, Esq. DANIEL J. RYLANDER, P.C. 2701 E. Speedway Blvd., Suite 203 Tucson, AZ 85716 Tel: 520-299-4922 Fax: 520-299-1482 E-mail: ecf@robrylaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Ernest L. Graves, manager of EME Management Group, LLC, general partner. The Debtor did not file a list of its 20 largest unsecured creditors together with the petition. A full-text copy of the petition is available for free at: http://bankrupt.com/misc/azb17-12003.pdf GLAZER FOODS: Source Foods Asks Court to Stop Cash Collateral Use ----------------------------------------------------------------- Source Foods Inc. asks the U.S. Bankruptcy Court for the Southern District of Florida to prohibit Glazer Foods, LLC, d/b/a Alfonso Gourmet Pasta's use of cash collateral. Source Foods is a creditor of the Debtor by reason of a Promissory Note in the amount of $272,994. The Note is secured by all of the Debtor's assets as evidenced by the Security Agreement dated May 25, 2016, and a UCC-1 Financing Statement bearing UCC number 201607710895. The Note is further secured by the personal guarantee of Jeffrey Glazer as evidenced by the Absolute Unconditional and Continuing Guarantee dated May 25, 2016. Neither the Debtor nor Jeffrey Glazer have made any payments under the Note. The Debtor has sought to obtain injunctive relief to protect Jeffrey Glazer the guarantor, but has made no attempt to obtain Source Foods' consent to use cash collateral. Source Foods claims that, as evidenced by the Debtor in Possession Report, the Debtor is using cash collateral without its consent. As evidenced by the Balance Sheet attached to the July Debtor In Possession Report, Source Foods' collateral has a value of $135,035. A debtor in possession is required to segregate and account for any cash collateral in its possession, custody or control, and may not use sell or lease cash collateral without either (i) the consent of each secured credit with an interest in the collateral or (ii) the Court's authorization. Source Foods says it has not consented to the use of cash collateral, and that it has not been offered any adequate protection. Source Foods states that its protections have been diminished by the entry of the Order barring the Secured Creditor from pursuing the Guarantor, Jeffrey Glazer. A copy of Source Foods' request is available at: http://bankrupt.com/misc/flsb17-18532-21.pdf Source Foods is represented by: Robert P. Bissonnette, Esq. ROBERT P. BISSONNETTE, P.A. Bayview Office Plaza 2810 E. Oakland Park Boulevard, Suite 104 Fort Lauderdale, Florida 3306 Tel: (954) 561-5554 Fax: (954) 561-5344 E-mail: pleadings@bisslaw.com Glazer Foods LLC filed a Chapter 11 petition (Bankr. S.D. Fla. Case No. 17-18532) on July 7, 2017, estimating under $1 million in both assets and liabilities. Chad T Van Horn, Esq., at Van Horn Law Group, P.A., serves as counsel. GLOBAL SOLUTIONS: Seeks Jan. 31 Plan Filing Exclusivity Extension ----------------------------------------------------------------- Global Solutions & Logistics, LLC requests the U.S. Bankruptcy Court for the Middle District of Alabama to extend the period within which it has the exclusive right to file a Chapter 11 plan through January 31, 2018. The Debtor's exclusive plan filing period ran through October 8. Prior to filing for bankruptcy, the Debtor guaranteed L. David Alexander's purchase of Brenford Environmental Services, Inc. from Summit Company, L.P. Brenford failed as a business venture and Summit obtained judgment against the Debtor in the amount of almost $3 million. Although Summit is an unsecured creditor as to Global Solutions, it holds a security interest in substantially all Brenford's assets. The Debtor believes that liquidation of Brenford's assets should significantly reduce the amount of Summit's claim against the Debtor. The Debtor is also a party to pending litigation in the Circuit Court of Lowndes County, Alabama, entitled Vallen Distribution, Inc. v. Koch Arms of Ala., LLC, Case No. CV-2017-900009. In this litigation, the Debtor faces claims from Vallen Distribution, Inc. and Younglove Construction, LLC, and may hold claims against Younglove, J&L Insulation, Inc., and others. Mediation of the Parties' competing claims in the Lowndes County Case is currently scheduled for November 14, 2017. The Debtor contends that while the deadline to file claims has passed, nevertheless, creditors continue to file claims, and the Debtor has received several claims that are objectionable. Thus, the Debtor anticipates filing actions to avoid and recover preferential payments. The Debtor asserts that any Chapter 11 plan must be accompanied by a disclosure statement that provides creditors and the Court with "adequate information." Given these claim issues that have yet to be resolved, especially Summit's third-party recourse and the Lowndes County Case, the Debtor argues that it would be currently premature for the Debtor to meaningfully prepare and propose a Chapter 11 plan accompanied by a disclosure statement that provides adequate information to creditors. About Global Solutions Alexanders Industrial Services in Phenix City, Alabama -- http://www.alexandersservices.com/-- is a veteran owned business that provides a full line of industrial services and cleaning, environmental services, and mechanical contracting to commercial clients, industrial facilities, and municipalities throughout the Southeast. Global Solutions & Logistics, LLC, dba Alexanders Industrial Services, dba A.I.S. filed a Chapter 11 petition (Bankr. M.D. Ala. Case No. 17-80775) on June 10, 2017. The petition was signed by Keith Williams, chief financial officer. The case is assigned to Judge Dwight H. Williams Jr. The Debtor is represented by William Wesley Causby, Esq., at Memory & Day. At the time of filing, the Debtor estimated less than $50,000 in assets and $1 million to $10 million in liabilities. No trustee or examiner has been appointed to date in the case. GREEN TERRACE: DOJ Watchdog Names R. Furr as Chapter 11 Trustee --------------------------------------------------------------- Guy G. Gebhardt, the acting U.S. Trustee for Region 21, filed an application with the U.S. Bankruptcy Court for the Southern District of Florida for an order approving the appointment of Robert C. Furr as Chapter 11 Trustee in the case of Green Terrace Condominium Association, Inc. To the best of the Applicant's knowledge, the Chapter 11 Trustee's connections with the debtor, creditors, any other parties-in-interest, their respective attorneys and accountants, the United States Trustee, and persons employed in the Office of the United States Trustee, are limited to the connections set forth in the Verified Statement filed in support of the Application. Office of the United States Trustee: Heidi A. Feinman Attorney Florida Bar No. 0879460 United States Department of Justice 51 S.W. First Avenue, Suite 1204 Miami, Florida 33130 Tel.: (305) 536-7285 Fax: (305) 536-7360 heidi.a.feinman@usdoj.gov About Green Terrace Condominium Green Terrace Condominium Association, Inc., based in West Palm Beach, Fla., filed a Chapter 11 petition (Bankr. S.D. Fla. Case No. 17-19188) on July 21, 2017. In its petition, the Debtor estimated less than $500,000 in assets and $1 million to $10 million in liabilities. The petition was signed by Kolman Kenigsberg as receiver for the Debtor. Judge Paul G. Hyman, Jr., presides over the case. Eric A Rosen, Esq., at Fowler White Burnett, P.A., serves as bankruptcy counsel. The Debtor employs Davenport Property Management as property manager. The Debtor's list of 16 unsecured creditors is available for free at: http://bankrupt.com/misc/flsb17-19188.pdf GROUP 701: Seeks to Hire ReMax as Real Estate Broker ---------------------------------------------------- Group 701, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to hire a real estate broker. The Debtor proposes to employ ReMax Realtors in connection with the sale of its commercial property in Dallas, Texas. The firm will get a commission of 2% of the gross sales price payable upon the closing of the sale. Lee Holtzman, a real estate broker employed with ReMax, disclosed in a court filing that his firm does not represent any interest adverse to the Debtor's estate. ReMax can be reached through: Lee Holtzman ReMax Realtors 25 South Stemmons Lewisville, TX 75067 Office: (972) 317-4663 Mobile: (214) 232-3278 Fax: (972) 436-7961 About Group 701 Group 701, LLC's business consists of the ownership of one piece of property located at 7300 Ambassador Row, Dallas, valued by the company at $1.78 million. Group 701 posted gross revenue of $67,500 in 2016 and gross revenue of $90,000 in 2015. The Debtor previously sought bankruptcy protection (Bankr. N.D. Tex. Case No. 17-30858) on March 6, 2017. The Debtor again sought Chapter 11 protection (Bankr. N.D. Tex. Case No. 17-33726) on Oct. 2, 2017, disclosing total assets of $1.78 million and total liabilities of $1.10 million. The petition was signed by Mahmoud Shahsiah, managing member. Judge Harlin DeWayne Hale is assigned to the case. The Debtor tapped Eric A. Liepins, Esq., at Eric A. Liepins, P.C. as counsel. HALT MEDICAL: Wants to Maintain Plan Exclusivity Through Dec. 8 --------------------------------------------------------------- Halt Medical, Inc., now known as HMI Liquidating Inc., asks the U.S. Bankruptcy Court for the District of Delaware for a 60-day extension of the exclusive periods during which only the Debtor may file and solicit acceptances of a plan through and including December 8, 2017, and February 6, 2018, respectively. If any responses or objections are timely filed on or before October 23, and the objection is not timely resolved, a hearing to consider the objection and the Debtor's Motion will be held on a date to be determined by the Court. Pursuant to a prior order entered by the Court on August 30, 2017, the Plan Period for the Debtor was set to expire on October 9, and the Solicitation Period is set to expire on December 8. The Debtor asserts that it has been able to prosecute its chapter 11 case promptly to date, and is in the process of preparing a chapter 11 plan to wind down its case. Specifically, on June 8, 2017, the Court approved the sale of substantially all of the Debtor's assets, which sale closed on June 23. With the sale process completed, the Debtor claims that it has been focusing upon winding up this Chapter 11 Case in a responsible, cost-effective manner. The Debtor believes that the requested extensions will foster an efficient plan process, allowing the Debtor to complete its plan and negotiate with key stakeholders without upsetting the balance intended by the plan exclusivity accorded to a Debtor under the Bankruptcy Code. About Halt Medical Inc. Halt Medical, Inc., a surgical device maker, sought bankruptcy protection (Bankr. D. Del. Case No. 17-10810) on April 12, 2017. Kimberly Bridges-Rodriguez, president and CEO, signed the petition. Judge Laurie S. Silverstein presides over the case. At the time of the filing, the Debtor estimated $1 million to $10 million in assets and $100 million to $500 million in liabilities. The Debtor is represented by Steven K. Kortanek, Patricia A. Jackson and Joseph N. Argentina Jr. of Drinker Biddle & Reath LLP, and Robert L. Eisenbach III and Michael Klein of Cooley LLP. Canaccord Genuity Inc. serves as the Debtor's investment banker, and Donlin, Recano & Company, Inc., is the claims and noticing agent. The U.S. Trustee has been unable to form an official unsecured creditors committee in the case. * * * U.S. Bankruptcy Judge Laurie Selber Silverstein approved the sale of the Debtor's assets to its post-petition lender, Acessa AssetCo LLC. The buyer served as stalking horse bidder and was the lone bidder. According to a Bankruptcy Law360 report, Halt Medical sought bankruptcy protection in April with $156.3 million in debt. The Chapter 11 filing followed an abrupt cutoff of financing by longtime private equity investor American Capital Ltd., which itself was acquired by Ares Capital Ltd. The DIP lender and stalking horse bidder is represented by Adam Landis and Kerri Mumford of Landis Rath & Cobb LLP. HAMPTON DREAM: Case Summary & 3 Unsecured Creditors --------------------------------------------------- Debtor: Hampton Dream Properties, LLC PO Box 1403 Amagansett, NY 11930 Business Description: Hampton Dream Properties is a real estate lessor whose principal place of business is located at 131 West Main Street Riverhead, NY 11901, Suffolk County. The Company is 100% owned by Michael T. O'Sullivan. Hampton Dream Properties owns in fee simple interests four real estate properties located at: (a) 2 Briar Croft Drive, East Hampton, New York 11937, valued at $750,000; (b) 93 Three Mile Harbor Road East Hampton, New York 11937, valued at $1 million; (c) 24 Wisteria Drive Remsengurg, New York 11960, valued at $1.5 million; and (d) 31 North Fairfax Road Montauk, New York 11954, valued at $750,000. Chapter 11 Petition Date: October 10, 2017 Case No.: 17-76188 Court: United States Bankruptcy Court Eastern District of New York (Central Islip) Judge: Hon. Louis A. Scarcella Debtor's Counsel: Mark E. Cohen, Esq. MARK E. COHEN, ESQ. 108-18 Queens Blvd Fourth Floor, Suite #3 Forest Hills, NY 11375 Tel: (718) 258-1500 Fax: (718) 793-1627 E-mail: MECESQ2@aol.com Total Assets: $4.03 million Total Liabilities: $3.52 million The petition was signed by Michael O'Sullivan, sole member. A full-text copy of the petition containing, along with a list of three unsecured creditors, is available for free at http://bankrupt.com/misc/nyeb17-76188.pdf HOMEROOMS INC: Case Summary & 11 Unsecured Creditors ---------------------------------------------------- Debtor: Homerooms, Inc. dba Cypress Tree Inn 2503 S.E. Evangeline Thruway Lafayette, LA 70508 Business Description: Homerooms, Inc. dba Cypress Tree Inn operates a hotel at 2503 SE Evangeline Thruway, Lafayette, LA. The hotel property has a current value of $4 million. The Company posted gross revenue of $150,000 in 2016 and gross revenue of $150,000 in 2015. Homerooms, Inc. previously sought bankruptcy protection on Feb. 10, 2012 (Bankr. W.D. La. Case No. 12-50136). Chapter 11 Petition Date: October 10, 2017 Case No.: 17-51324 Court: United States Bankruptcy Court Western District of Louisiana (Lafayette) Judge: Hon. Robert Summerhays Debtor's Counsel: Thomas E. St. Germain, Esq. WEINSTEIN & ST. GERMAIN 1414 NE Evangeline Thruway Lafayette, LA 70501 Tel: (337) 235-4001 Fax: (337) 235-4020 E-mail: ecf@weinlaw.com Total Assets: $4.10 million Total Liabilities: $4.69 million The petition was signed by Michael J. Munro, Sr., president. A full-text copy of the petition, along with a list of 11 unsecured creditors, is available for free at http://bankrupt.com/misc/lawb17-51324.pdf HUMAN CONDITION: Intends to File Chapter 11 Plan by January 2018 ---------------------------------------------------------------- Human Condition Safety, Inc. requests the U.S. Bankruptcy Court for the Southern District of New York that its exclusive period for filing a chapter 11 plan be extended for 90 days from October 6, 2017, to January 4, 2018, and the exclusive period for soliciting acceptances to that Plan be extended for 90 days from December 5, 2017 to March 5, 2018. The Court has previously entered an Order granting the Debtor's first motion to extend exclusive periods, which extended the exclusive period for filing a chapter 11 plan to October 6, 2017, as well as the exclusive period for solicitation of acceptances to December 5, 2017. The Debtor relates that it has proceeded with the financing arrangements which the Debtor had negotiated with AIG PC Global Services, Inc., and which the Court approved under the Final DIP Financing Order entered on April 19, 2017. Human Condition Safety contends that the DIP Financing provides for the Debtor to continue operating in bankruptcy while implementing a dual-track process to maximize value for stakeholders and preserve employees' jobs by simultaneously pursuing (i) a plan, and (ii) a sale of substantially all Debtor's assets pursuant to section 363 of the Bankruptcy Code with the transition of its employees, operations and files. The Debtor contends that at the time it filed its first motion to extend the exclusive periods, it announced its intention to file a motion to sell substantially all its assets and to thereafter file a proposed viable Chapter 11 liquidating plan and the Debtor was diligently evaluating proposed terms for such a sale and plan. Consequently, on July 11, 2017, the Debtor filed its motion for sale of substantially all its Assets, which the Court subsequently approved, and on September 14, 2017 the Debtor closed the sale of substantially all its assets to successful bidder and DIP Financing Lender, AIG PC Global. Human Condition Safety relates that, since then, the Debtor has been addressing post-sale closing issues, including assumption and assignment of additional contracts in connection with the sale, and has been diligently evaluating proposed terms its Chapter 11 liquidating plan which the Debtor intends to file shortly. About Human Condition Safety Headquartered in New York, New York, Human Condition Safety Inc. -- http://www.hcsafety.com/-- develops wearable devices, artificial intelligence, building information modeling, and cloud computing solutions that assists workers and their managers prevent injuries before they happen at their workplace. Human Condition Safety was incorporated in 2014. Human Condition Safety filed for Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Case No. 17-10585) on March 10, 2017, estimating its assets at between $500,000 and $1 million and its liabilities at between $1 million and $10 million. The petition was signed by Greg Wolyniec, president, director and chief executive officer. Judge Sean H. Lane presides over the case. John D. Giampolo, Esq., at Wollmuth Maher & Deutsch LLP, is serving as the Debtor's bankruptcy counsel. ICAGEN INC: Closed Securities Purchase Agreement With GPB Debt -------------------------------------------------------------- Icagen, Inc. ("Parent") and its wholly owned subsidiary, Icagen-T, Inc., entered into and consummated a Securities Purchase Agreement on May 15, 2017, with GPB Debt Holdings II, LLC, pursuant to which (i) the Parent issued to GPB Debt for an aggregate purchase price payable in cash to the Parent of $1,920,000, before reimbursement of expenses: (a) a Senior Secured Convertible Note in the aggregate principal amount of $2,000,000, which Parent Note is convertible into the Parent's shares of common stock, $0.001 par value per share at a conversion price of $3.50 per share, and (b) a warrant to purchase initially up to 857,143 shares of Common Stock in accordance with the terms of the Warrant; and (ii) Icagen-T issued to the Purchaser for an aggregate purchase price payable in cash to Icagen-T of $7,680,000, before reimbursement of expenses, a Senior Secured Convertible Note of Icagen-T, in the aggregate principal amount of $8,000,000, which Icagen-T Note is convertible into shares of Common Stock of the Parent at a conversion price of $3.50 per share in accordance with Icagen-T Note and the Parent Note. Each Note was issued with a four percent original issue discount. The Notes have a maturity date of May 15, 2020, and bear interest at a rate equal to 13% per annum. The Purchaser may elect to have the Parent and/or Icagen-T redeem the respective Note upon the occurrence of certain events, including upon certain Events of Default. The Notes contain customary Events of Default. In addition, any time after issuance, so long as no Event of Default has occurred and/or is continuing, the Parent and Icagen-T, respectively, has the right to redeem all or part of the Conversion Amount of each Note then outstanding, with a minimum prepayment amount of $500,000, at any time upon five business days' notice to the Purchaser by paying an amount in cash equal to a range between 101% and 103% of the Conversion Amount being redeemed if paid in full and if an Event of Default has occurred and is continuing the Purchaser has the right to require the Company to redeem the Conversion Amount for an amount of cash equal to a range between 116% and 118% of the Conversion Amount being redeemed. The "Conversion Amount" means the sum of (a) the portion of the principal to be converted, redeemed or otherwise with respect to which this determination is being made, (b) all accrued and unpaid Interest with respect to such portion of such principal, (c) all accrued and unpaid late charges with respect to such portion of such principal and such Interest, if any, and (d) all other amounts due hereunder. The Notes contain certain covenants, such as restrictions on the incurrence of indebtedness, the existence of liens, the payment of restricted payments, redemptions, the payment of cash dividends and the transfer of assets. If the Parent fails to timely deliver the shares underlying the Notes, it will be subject to certain buy-in provisions. In addition, pursuant to the Securities Purchase Agreement, the Parent and Icagen-T have agreed to provide certain registration rights with respect to the Conversion Shares underlying the Icagen-T Note and, if Rule 144 under the Securities Act of 1933, as amended, is unavailable, for the Warrant Shares and Parent Conversion Shares underlying the Parent Note. In addition, pursuant to the Notes, neither the Parent nor Icagen-T shall enter into or be party to a Fundamental Transaction (as defined in the Notes) unless (i) the Successor Entity (as defined in the Notes) assumes in writing all of the obligations of the Parent, Icagen-T and each Subsidiary under the Notes and the other Transaction Documents (as defined in the Notes) pursuant to written agreements in form and substance reasonably satisfactory to the Purchaser and approved by the Purchaser prior to such Fundamental Transaction, including agreements to deliver to the Purchaser in exchange for this Note and securities of the Successor Entity evidenced by a written instrument substantially similar in form and substance to the Notes (which, for the avoidance of doubt, will not include any terms or conditions less favorable to the Purchaser in any material respect than the terms and conditions set forth in the Notes), including, without limitation, having principal amounts, interest rates and late charges equal to the payment rights and amounts, principal amounts then outstanding, the interest rates and late charges in the Notes as well as having the conversion rights, redemption rights, rankings, Events of Default the same as in the Notes and satisfactory to the Purchaser, and (ii) the Successor Entity is a trading issuer whose common stock is registered under Section 12 of the Securities Exchange Act of 1934, as amended, and is quoted and/or listed for trading on a Qualifying Market (as defined in the Notes). The Notes also contain certain anti-dilution provisions that apply in connection with any stock split, stock dividend, stock combination, recapitalization and sales of securities below the conversion price of the Notes. In addition, subject to limited exceptions, a holder of the Parent Note and Icagen-T Note will not have the right to convert any portion of such note if such holder, together with its affiliates, would beneficially own in excess of 4.99% of the number of shares of the Common Stock outstanding immediately after giving effect to its conversion. A holder of the Parent Note and Icagen-T Note may adjust the Beneficial Ownership Limitation upon not less than 61 days' prior notice to the Parent, provided that such Beneficial Ownership Limitation in no event will exceed 9.99%. The Parent intends to use the proceeds from this financing to repay $1,500,000 aggregate principal amount of 8% notes sold by the Parent in an April 2017 bridge financing and all accrued but unpaid interest thereon, and the balance for general corporate and working capital purposes, including payments in the amount of $500,000 owed by the Parent pursuant to the terms of a settlement agreement, and Icagen-T intends to use the net proceeds from the purchase price paid to Icagen-T for general corporate and working capital purposes of Icagen-T; provided, however, neither the Parent nor Icagen-T will use any of their respective net proceeds for (a) the repayment of any Indebtedness other than Permitted Indebtedness, (b) the redemption or repurchase of any securities of the Parent, Icagen-T and the Subsidiaries, or (c) except for the payments pursuant to the Settlement Agreement, the settlement of any outstanding litigation; provided, further, Icagen-T will not use any of such proceeds in violation of its arrangements with Sanofi US Services, Inc. The Purchaser was reimbursed for legal and due diligence fees and expenses from this private placement. Warrant The Parent issued the Warrant to the Purchaser at an initial exercise price of $3.50 per share (subject to applicable adjustments). The Warrant expires on May 15, 2022. In addition, subject to limited exceptions, a holder of the Warrant will not have the right to exercise any portion of the Warrant if such holder, together with its affiliates, would beneficially own in excess of the Beneficial Ownership Limitation. A holder of the Warrant may adjust the Beneficial Ownership Limitation upon not less than 61 days' prior notice to the Parent, provided that such Beneficial Ownership Limitation in no event shall exceed 9.99%. The Warrant also contain certain anti-dilution provisions that apply in connection with any stock split, stock dividend, stock combination, recapitalization and issuances of securities at prices below the conversion price or similar transactions. If, at the time a holder exercises its Warrant, there is no effective registration statement registering available for an issuance of the shares underlying the Warrant to the holder, then in lieu of making the cash payment otherwise contemplated to be made to the Parent upon such exercise in payment of the aggregate exercise price, the holder may elect instead to receive upon such exercise (either in whole or in part) the net number of shares of Common Stock determined according to a formula set forth in the Warrant. If the Parent fails to timely deliver the shares underlying the Warrant, it will be subject to certain buy-in provisions. The Warrant also provides that the Parent will not enter into or be party to a Fundamental Transaction unless (i) the Successor Entity (as defined in the Warrant) assumes in writing all of the obligations of the Parent under the Warrant and the other Transaction Documents (as defined in the Securities Purchase Agreement) pursuant to written agreements in form and substance satisfactory to the Purchaser, including agreements to deliver to the Purchaser in exchange for the Warrant a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to the Warrant; (ii) the Parent or the Successor Entity (as the case may be) agrees at the election of the Parent or the Successor Entity (as the case may be) to purchase the Warrant from the Purchaser by paying to the Purchaser cash in an amount equal to the Black Scholes Value (as defined in the Warrant); or (iii) the Purchaser, at its election, requires the Parent or the Successor Entity (as the case may be) to purchase the Warrant from the Purchaser by paying to the Purchaser cash in an amount equal to the Black Scholes Value. Security and Pledge Agreements, Guaranties and Deed of Trust The Parent Note is secured by a security interest in all of the existing and future assets of the Parent and the Domestic Subsidiaries (as defined in the Parent Security Agreements) (other than Icagen-T), including a pledge of all of the capital stock of each of the Domestic Subsidiaries (other than Icagen-T), subject to existing security interests, for the benefit of the Purchaser, to secure the Parent's obligations under the Parent Note, as evidenced by (i) a security and pledge agreement, and (ii) a guaranty executed by each Domestic Subsidiary (other than Icagen-T) pursuant to which the Domestic Subsidiaries (other than Icagen-T) guarantees all obligations of the Parent under the Transaction Documents. The Icagen-T Note is secured by a security interest in all of the existing and future assets of the Parent, Icagen-T and the other Domestic Subsidiaries (as defined in the Icagen-T Security Agreement), including a pledge of all of the capital stock of each of the Domestic Subsidiaries (other than Icagen-T), subject to existing security interests, for the benefit of the Purchaser, to secure Icagen-T's obligations under the Icagen-T Note, as evidenced by (i) a security and pledge agreement, and (ii) a guaranty executed by the Parent and each Domestic Subsidiary (other than Icagen-T) pursuant to which the Parent and the Domestic Subsidiaries (other than Icagen-T) guarantees all of the obligations of Icagen-T under the Transaction Documents. In addition, the Parent and Icagen-T entered into a Subordinated Deed of Trust, Assignment of Rents, Fixture Filing and Security Agreement with the trustee named therein and the Purchaser as beneficiary, securing all of Icagen-T's obligations to the Purchaser by a senior priority security interest in the Property/Facilities (as defined in the Deed of Trust), which is subordinated only to a Deed of Trust entered into with Sanofi US Services, Inc. The Parent and Icagen-T also executed an Affidavit of Confession of Judgment to secure their obligations under the Parent Note and Icagen-T Note. Upon an Event of Default, the Purchaser may, among other things, collect or take possession of the Parent Collateral or Icagen-T Collateral, as the case may be, proceed with the foreclosure of the security interest in the Collateral or sell, lease or dispose of the Collateral. Each of the Subsidiaries has also guaranteed all of the Parent's obligations under the Note pursuant to the terms of the Parent Guaranty and the Icagen-T Guaranty. The transactions contemplated by the Securities Purchase Agreement closed and funded on May 15, 2017. Settlement and Release Agreement On May 11, 2017, the Parent entered into a Settlement and Release Agreement with Dentons US LLP relating to disputes arising between them under a Settlement and Release Agreement, dated July 5, 2013, a judgment thereafter obtained by Dentons on May 7, 2014, in the Circuit Court of Cook County, Illinois, Lawsuit based upon the 2013 Settlement in the amount of $3,050,000, and a lawsuit filed by the Parent in San Francisco Superior Court in or about April 2014 against Dentons. In connection with the Agreement, the Parent has agreed to pay Dentons the sum of $1,400,000 over a fourteen month period of which: (i) $250,000 is due no later than May 15, 2017; and (ii) $250,000 is due no later than June 1, 2017 or the date of the closing of a debt financing by the Parent, whichever is sooner. In addition, to secure its obligations under the Agreement, the Parent executed and delivered to Dentons a Confession of Judgment Affidavit in Support of Confession of Judgment in the amount of $3,891,549.32, representing the amount of the Judgment that had been obtained plus the costs of suit and interest accrued through May 15, 2017. The Confession of Judgment is not to be filed unless the Parent defaults on its obligations under the Agreement and it will be returned to the Parent upon payment in full under the Agreement. The Agreement included mutual releases of claims each party had against the other and the parties also agreed to dismiss the litigation between them with prejudice; provided, that Dentons' obligations commence after it has received $500,000 of the payments from the Parent. About Icagen Durham, North Carolina-based Icagen, Inc., formerly known as XRpro Sciences, Inc. -- http://www.icagen.com/-- is a biopharmaceutical company, focuses on the discovery, development, and commercialization of orally-administered small molecule drugs that modulate ion channel targets. Its drug candidates include ICA-105665, a small molecule compound that targets specific KCNQ ion channels for the treatment of epilepsy and pain, which is in Phase II clinical trial stage; and a compound that targets the sodium channel Nav1.7 for the treatment of pain, which is in Phase I clinical trial stage. Icagen reported a net loss of $5.50 million in 2016 following a net loss of $8.67 million in 2015. As of June 30, 2017, Icagen had $18.27 million in total assets, $23.88 million in total liabilities and a total stockholders' deficit of $5.61 million. RBSM LLP, in New York, issued a "going concern" opinion on the consolidated financial statements for the year ended Dec. 31, 2016, stating that the Company has incurred recurring operating losses, which has resulted in an accumulated deficit of approximately $27.6 million at Dec. 31, 2016. These conditions, among others, raise substantial doubt about the Company's ability to continue as a going concern. INFORMATION SOLUTIONS: Wants Plan Exclusivity Continued to Jan. 12 ------------------------------------------------------------------ Information Solutions, Inc., which does business as Refuge Golf & Country Club, requests the U.S. Bankruptcy Court for the District of Arizona to extend the 180-day exclusivity period set forth in Section 1121(c)(3) of the Bankruptcy Code for 60 days, until January 12, 2018. Refuge filed its Plan of Reorganization dated June 22, 2017. To incorporate a settlement reached with its primary secured creditor, and address concerns raised by creditors and interested parties, Refuge filed its Second Amended Plan of Reorganization on September 8, 2017. The Court has scheduled the initial hearing on confirmation of the Amended Plan for November 8, 2017. However, the 180-day exclusivity period will run on November 13. While Refuge hopes to confirm the Amended Plan on November 8, in an abundance of caution, Refuge seeks to extend the exclusivity period for an additional 60 days in case there are any lingering issues that need to be resolved before confirmation. About Information Solutions, Inc. Information Solutions -- http://www.refugecountryclub.com/-- owns the Refuge Golf & Country Club located at 3103 London Bridge Rd. Lake Havasu City, AZ 86404. The property is valued at $2 million. Information Solutions, Inc., based in Lake Havasu City, AZ, filed a Chapter 11 petition (Bankr. D. Ariz. Case No. 17-05481) on May 17, 2017. The Hon. Madeleine C. Wanslee presides over the case. Forrester & Worth, PLLC, serves as bankruptcy counsel. In its petition, the Debtor estimated $2.06 million in assets and $12.78 million in liabilities. The petition was signed by Jerry Aldridge, president. ION GEOPHYSICAL: Four Proposals Approved at Annual Meeting ---------------------------------------------------------- ION Geophysical Corporation held its annual meeting of stockholders on May 17, 2017, at which the stockholders: (1) elected Michael C. Jennings and John N. Seitz as directors to hold office until the 2020 Annual Meeting of Stockholders or until their successors are elected; (2) approved on an advisory basis the compensation of the Company's executive officers; (3) approved on an advisory basis a yearly frequency of future shareholder votes on executive compensation; and (4) ratified the selection of Grant Thornton LLC as the Company's independent registered public accounting firm for the fiscal year ending Dec. 31, 2017. In addition, the terms of the following directors continued after the Meeting: * Brian R. Hanson * Hao Huimin * Michael C. Jennings * James M. Lapeyre, Jr. * John N. Seitz About ION Headquartered in Delaware, ION Geophysical Corporation -- http://www.iongeo.com/-- is a provider of technology-driven solutions to the global oil and gas industry. ION's offerings are designed to help companies reduce risk and optimize assets throughout the E&P lifecycle. ION Geophysical reported a net loss attributable to the Company of $65.14 million in 2016, a net loss attributable to the Company of $25.12 million in 2015 and a net loss attributable to the Company of $128.25 million in 2014. As of June 30, 2017, Ion Geophysical had $284.9 million in total assets, $261.43 million in total liabilities and $23.41 million in total equity. * * * In October 2016, S&P Global Ratings raised the corporate credit rating on ION Geophysical to 'CCC+' from 'SD'. The rating action follows ION's partial exchange of its 8.125% notes maturing in 2018 for new 9.125% second-lien notes maturing in 2021. In May 2016, Moody's Investors Service affirmed ION Geophysical's 'Caa2' Corporate Family Rating, and affirmed and appended its Probability of Default Rating (PDR) at 'Caa2-PD/LD'. ITUS CORP: Obtained $3.6 Million From Public Stock Offering ----------------------------------------------------------- ITUS Corporation closed its public offering of common stock for gross proceeds of approximately $3.6 million on May 16, 2017. The offering was a shelf takedown off of the Company's registration statement on Form S-3 (File No. 333-206782) and was conducted pursuant to a placement agency agreement between the Company and Dawson James Securities, Inc., the sole placement agent on a best-efforts basis with respect to the offering, that was entered into on May 11, 2017. The Company sold 3,425,376 shares of common stock in the offering at a purchase price of $1.05 per share. The Agreement contains customary representations, warranties and agreements of us and the Placement Agent. The Company also agreed in the Agreement to indemnify the Placement Agent against certain liabilities. About ITUS Corporation San Jose, California-based ITUS Corporation (NASDAQ:ITUS) -- http://www.ITUScorp.com/-- funds, develops, acquires, and licenses emerging technologies in areas such as biotechnology. Formerly known as CopyTele, the Company is developing a platform called Cchek, a series of non-invasive, blood tests for the early detection of solid tumor based cancers, which is based on the body's immunological response to the presence of a malignancy. CopyTele changed its name to "ITUS Corporation" on Sept. 2, 2014, to reflect the Company's change in its business operations. Haskell & White LLP, in Irvine, California, issued a "going concern" qualification on the Company's consolidated financial statements for the year ended Oct. 31, 2016, citing that the Company has limited working capital and limited revenue-generating operations and a history of net losses and net operating cash flow deficits. These conditions raise substantial doubt about the Company's ability to continue as a going concern. ITUS Corp reported a net loss of $5.01 million on $300,000 of total revenue for the year ended Oct. 31, 2016, compared to a net loss of $1.37 million on $9.25 million of total revenue for the year ended Oct. 31, 2015. As of July 31, 2017, ITUS had $8.41 million in total assets, $2.92 million in total liabilities, and $5.48 million in total shareholders' equity. JAMBA INC: Nasdaq Grants Request for Listing Compliance Extension ----------------------------------------------------------------- Jamba, Inc., on Oct. 11, 2017, disclosed that the Nasdaq Stock Market, LLC, granted the Company's request for a hearing before the Nasdaq Hearings Panel. The hearing will take place on November 16, 2017 at which time the Company will present its plan to regain compliance with Nasdaq Listing Rule 5250(c)(1) (the "Rule"), which requires timely filing of periodic reports with the Securities and Exchange Commission (the "SEC"). Previously, Nasdaq granted the Company an extension until September 18, 2017 to file all delinquent periodic reports. The Company also announced that the Panel granted the Company's request to extend the automatic 15-day stay of suspension from The Nasdaq Stock Market. The stay, which allows for the continued trading of the Company's common stock on Nasdaq, will continue until a final determination regarding the Company's listing status is issued after the November 16, 2017 hearing. The Company fully intends to continue to take all steps necessary to regain compliance with the Rule. About Jamba, Inc. Jamba, Inc. (Nasdaq: JMBA) -- http://www.jambajuice.com/-- through its wholly-owned subsidiary, Jamba Juice Company, is a healthful, active lifestyle brand with a robust global business driven by a portfolio of franchised and company-owned Jamba Juice (R) stores and Jamba Juice Express(TM) formats. Jamba Juice (R) is a restaurant retailer of "better-for-you" specialty beverage and food offerings which include flavorful, whole fruit and vegetable smoothies, fresh squeezed juices and juice blends, Energy Bowls(TM), signature "boosts", shots and a variety of food items including: hot oatmeal, breakfast wraps, sandwiches, Artisan Flatbreads(TM), baked goods and snacks. There are over 800 Jamba Juice store locations globally, as of July 4, 2017. KNIGHT ENERGY: Committee Taps Huron as Financial Advisor -------------------------------------------------------- The official committee of unsecured creditors of Knight Energy Holdings, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Louisiana to hire Huron Consulting Services LLC as its financial advisor. The firm will provide financial and operational advice to the committee particularly those related to the financial affairs and business plan of Knight Energy and its affiliates, any proposed sale transaction; and any plan of reorganization or liquidation proposed in their Chapter 11 cases. The hourly rates currently charged by Huron are: Managing Directors $750 - $950 Senior Directors $650 - $725 Directors $550 - $650 Managers $425 - $525 Associates/Analysts $400 - $400 With respect to its employment, Huron has agreed to a blended rate of $575 per hour and to limit its fees to these monthly limits: 1st Month $100,000 2nd Month $75,000 3rd Month $50,000 4th Month $25,000 Dennis Ulak, managing director of Huron, disclosed in a court filing that his firm does not hold or represent any interest adverse to the Debtors and their estates. Huron can be reached through: Dennis Ulak Huron Consulting Services LLC Pennzoil Place 711 Louisiana St, South Tower, Suite 1700 Houston, TX 77002 About Knight Energy Holdings, LLC Knight Energy Holdings, LLC, supplies rental equipment and services for drilling, completion and well control activities, serving a diverse base of oil and gas operators. It is a multi-basin service provider with operations in nine states. Its services are available to clients in the United States, including the Permian, Eagle Ford, San Juan, Bakken, Cotton Valley, DJ, Haynesville, Alaska, and the Gulf Coast. In the past, Knight Energy also provided services internationally in Norway, the Netherlands, Iraq, UAE, Australia, and Colombia. There are presently no international operations. Knight Energy currently employs approximately 330 employees spread throughout the 18 active locations. Knight Energy, formerly Knight Oil Tools, LLC and its affiliates, filed Chapter 11 petitions (Bankr. W.D. La. Lead Case No. 17-51014) on Aug. 8, 2017. The petitions were signed by Kelley Knight Sobiesk, member, director. At the time of filing, Knight Energy Holdings had $50 million to $100 million in estimated assets and $100 million to $500 million in estimated liabilities. The cases are assigned to Judge Robert Summerhays. Heller, Draper, Patrick, Horn & Dabney, LLC serves as bankruptcy counsel to the Debtors while Opportune, LLP, serves as their crisis manager. Donlin, Recano & Company, Inc. is the claims, noticing and solicitation agent. On August 24, 2017, Henry G. Hobbs, Jr., acting U.S. trustee for Region 5, appointed an official committee of unsecured creditors. The Committee has hired Baker Donelson Bearman Caldwell & Berkowitz, PC, as counsel. LA PALOMA GENERATING: Wants Solicitation Period Extended to Dec. 5 ------------------------------------------------------------------ La Paloma Generating Co., LLC, and its affiliates ask the U.S. Bankruptcy Court for the District of Delaware to extend their exclusive period to solicit votes on a Chapter 11 Plan by an additional 60 days, through and including December 5, 2017. This is the Debtors' third request for extension. If an objection is timely filed by October 20, 2017, the Court will hold a hearing on November 6 starting at 11:00 a.m. to consider the objection and the Debtors' Third Motion. The Debtors have been under the protection of chapter 11 for less than a year. The Debtors relate that, in that time, among other things, they have: (a) negotiated several consensual financing orders to ensure that the Debtors have access to the funds necessary to operate their business and pay the administrative expenses of these chapter 11 cases; (b) worked to monetize assets and restructure important vendor and other contractual relationships with a view toward maximizing the value of their business; (c) proposed the Plan on September 21, 2017 , which incorporates a settlement with the Debtors' first lien lender, and have begun soliciting votes thereon; and (d) on September 28, 2017, earned approval of the disclosure statement filed in conjunction with the Plan, and have turned their focus towards the Plan confirmation hearing, currently scheduled for October 30, 2017. The Debtors assert that the requested extension will provide them with the opportunity to continue these efforts without the distraction of a competing chapter 11 plan. Accordingly, the Debtors believe that it is reasonable to request additional brief extension of the Solicitation Exclusivity Period. About La Paloma Generating La Paloma Generating Company, LLC, a D.C.-based merchant power generator, and its affiliates La Paloma Acquisition Co, LLC, and CEP La Paloma Operating Company, LLC, filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Case Nos. 16-12700 to 16-12702) on Dec. 6, 2016. The petitions were signed by Niranjan Ravindran, as the Debtors' authorized person. La Paloma Generating estimated $100 million to $500 million in assets and $500 million to $1 billion in liabilities. The Hon. Christopher S. Sontchi presides over the cases. The Debtors are represented by John J. Rapisardi, Esq., and George A. Davis, Esq., at O'Melveny & Myers LLP, as lead bankruptcy counsel; and Mark D. Collins, Esq., Andrew Dean, Esq., and Jason M. Madron, Esq., at Richards, Layton & Finger, P.A., as Delaware counsel. Lawyers at Curtis, Mallet-Prevost, Colt & Mosle LLP serve as conflicts counsel. Jefferies LLC serves as the Debtors' financial advisor and investment banker, while their claims and noticing agent is Epiq Bankruptcy Solutions. Alvarez & Marsal North America, LLC, is the financial advisor. Maria Aprile Sawczuk has been appointed fee examiner in the bankruptcy case. On Aug. 2, 2017, the Debtors filed a Chapter 11 Plan and Disclosure Statement. Andrew R. Vara, Acting U.S. Trustee for Region 3, on Sept. 5 appointed three creditors to serve on the official committee of unsecured creditors in the Chapter 11 case of La Paloma Generating Co. LLC, et al. The committee members are: (1) Argo Chemical, Inc.; (2) PowerFlow Fluid Systems, LLC; and (3) GE Mobile Water, Inc. LA PALOMA: Second Lien Claimants to Recoup 22%-31% -------------------------------------------------- La Paloma Generating Company, LLC, La Paloma Acquisition Co, LLC, and CEP La Paloma Operating Company, LLC, filed with the U.S. Bankruptcy Court for the District of Delaware their latest disclosure statement for their joint chapter 11 plan of reorganization. This latest filing submits that notwithstanding the Debtors' belief that the Plan should be and is neutral with respect to this intercreditor dispute, the Plan’s treatment of the Second Lien Claims is consistent with LNV's position and inconsistent with the holders of Second Lien Claims' position on the treatment of the Second Lien Claims pending the resolution of the dispute over the Intercreditor Agreement. Class 4 Second Lien Claimants will receive their pro rata share the Second Lien Encumbered Cash; and to the extent the value of item (i) does not satisfy the Allowed Second Lien Claims in full, the Liquidating Trust Interests, subject to the Intercreditor Agreement, which shall be retained by the Collateral Agent in a reserve pending a distribution. Estimated recovery for this class is 22%-31%. A full-text copy of the Latest Disclosure Statement is available at: http://bankrupt.com/misc/deb16-12700-677.pdf La Paloma Generating Company, LLC, a D.C.-based merchant power generator, and its affiliates La Paloma Acquisition Co, LLC, and CEP La Paloma Operating Company, LLC, filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Case Nos. 16-12700 to 16-12702) on Dec. 6, 2016. The petitions were signed by Niranjan Ravindran, as the Debtors' authorized person. The Hon. Christopher S. Sontchi presides over the cases. La Paloma Generating estimated $100 million to $500 million in assets and $500 million to $1 billion in liabilities. O'Melveny & Myers LLP was originally tapped to represent the Debtors. The firm has since been replaced by M. Natasha Labovitz, Esq., and Craig A. Bruens, Esq., of Debevoise & Plimpton; and Mark D. Collins, Esq., Andrew Dean, Esq., and Jason M. Madron, Esq., at Richards, Layton & Finger, P.A. Lawyers at Curtis, Mallet-Prevost, Colt & Mosle LLP serve as conflicts counsel. Jefferies LLC serves as the Debtors' financial advisor and investment banker, while their claims and noticing agent is Epiq Bankruptcy Solutions. Alvarez & Marsal North America, LLC, is the financial advisor. Maria Aprile Sawczuk has been appointed fee examiner in the bankruptcy case. On Aug. 2, 2017, the Debtors filed a Chapter 11 plan and disclosure statement. On Sept. 5, 2017, Andrew R. Vara, acting U.S. trustee for Region 3, appointed an official committee of unsecured creditors. Brinkman Portillo Ronk, APC and The Rosner Law Group LLC represent the committee as legal counsel. LABORATORIO CLINICO: Says Hurricanes Hamper Exit Plan Preparations ------------------------------------------------------------------ Laboratorio Clinico Los Robles, Inc., requests the U.S. Bankruptcy Court for the District of Puerto Rico for an extension of time until January 29, 2018, to file a Small Business Chapter 11 plan and Disclosure Statement. The Debtor was originally scheduled to file the Disclosure Statement and the Chapter 11 Small Business Plan on October 9, 2017. The Debtor asks the Court to take judicial notice that during the first week of September 2017, Hurricane Irma strike Puerto Rico, leaving the Debtor's business without electricity, which situation continued with the strike of Hurricane Maria. As of October 8, 2017, the Debtor claims that it has been impossible to complete the monthly report of August 2017 due to the lack of electricity, water and internet, and the September 2017 report is basically without income. The Debtor also relates that although it has already obtained an appraisal to contest the value of a certain lien but, with the damages that the real estate had due to Hurricane Maria, the appraisal value must be revised. Due to the exigent circumstance it is currently facing, the Debtor believes that it is more likely than not that the Court will confirm the plan within a reasonable period of time. About Laboratorio Clinico Los Robles Laboratorio Clinico Los Robles, Inc. filed a Chapter 11 bankruptcy petition (Bankr. D.P.R. Case No. 17-03196) on May 5, 2017. The petition was signed by the Debtor's president, Luis Armando Berrios Diaz. At the time of filing, the Debtor had $500,000 to $1 million in estimated assets and $100,000 to $500,000 in estimated liabilities. The Debtor is represented by Ada M Conde, Esq., at Estudio Legal 1611 Corp, as its bankruptcy counsel. LIL ROCK: Has Interim Permission to Use Germantown Cash Collateral ------------------------------------------------------------------ Judge Laura K. Grandy the U.S. Bankruptcy Court for the Southern District of Illinois has entered an Order permitting Lil Rock Electrical Construction Inc. to use its equipment and cash collateral on an interim basis. A final hearing on the use of cash collateral will be held on Oct. 17, 2017, at 9:00 a.m. The Debtor's primary secured creditor is Germantown Trust & Savings Bank, which is owed the approximate sum of $774,009 under its agreements with Germantown, as of the Petition Date. This prepetition indebtedness is secured by valid, perfected, enforceable, first-priority liens and security interests upon and in the assets of the Debtor including all inventory, equipment, chattel paper, accounts, general intangibles, consumer goods and the proceeds of the foregoing. Germantown will receive valid, binding, enforceable, and duly perfected replacement security interests that are only valid and non-avoidable to the same extent that the prepetition liens of Germantown are valid and non-avoidable. As further adequate protection, Germantown will receive regular payments on their loans in the ordinary course of the Debtor's business. In addition, the Debtor is required to maintain a policy of property and casualty insurance at all times. A full-text copy of the Order, dated Oct. 5, 2017, is available at http://tinyurl.com/ybfpz84u About Lil Rock Electrical Construction Lil Rock Electrical Construction, Inc., is a full-service electrical contractor in Carlyle, Illinois, equipped to complete commercial, residential, and industrial electrical work, excavating, and directional boring. Lil Rock Electrical Construction sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Ill. Case No. 17-31376) on Sept. 11, 2017. Myranda Weber, its restructuring officer, signed the petition. At the time of the filing, the Debtor disclosed $1.21 million in assets and $1.17 million in liabilities. The Debtor is represented by Spencer P. Desai, Esq., at Carmody MacDonald P.C. Judge Laura K. Grandy presides over the case. No trustee or examiner has been appointed in this case, and no official committee of creditors or equity interest holders has been established in this case. LOOKIN UP: Asks for Court's Nod to Use Cash Collateral ------------------------------------------------------ Lookin Up Enterprises, Inc., asks for permission from the U.S. Bankruptcy Court for the Middle District of Florida to use cash, accounts receivable and other income derived from the Debtor's operations to fund its operating expenses and costs of administration in this Chapter 11 case for the duration of the case. Secured creditors Independence Bank/SBA, Yellowstone Capital, Inc., and Wide Merchant Group hold blanket liens on the Debtor's assets, or the collateral. The Debtor reserves the right to challenge the validity, priority and extent of the Secured Creditors' liens against the Debtor's assets. As adequate protection for the use of cash collateral, the Debtor proposes that: a. Secured Creditors will have postpetition liens on the collateral to the same extent, validity and priority as existed prepetition; b. the Debtor will maintain insurance on the collateral to the same amount as required under the underlying loan documents; c. Secured Creditors will have a right to inspect the collateral on 48 hours, reasonable notice; and d. upon written request, the Debtor will provide Secured Creditors with copies of monthly financial documents generated in the ordinary course of business, and other information as the Secured Creditors reasonably request with respect to the Debtor's operations. The Debtor tells the Court that in order for the Debtor to remain in business, it is imperative that it have the use of its cash collateral. The use of cash collateral is necessary to avoid immediate and irreparable harm to the Debtor's estate. The cash collateral will be used to maintain business operations and preserve value of the estate. Among other things, the Debtor proposes to use cash collateral in accordance with the budget for payment of necessary owner/operators, employees, supplies, and ordinary business expenses related to its operations. A copy of the Debtor's Motion is available at: http://bankrupt.com/misc/flmb17-08036-17.pdf About Lookin Up Enterprises Lookin Up Enterprises Inc is a Boat club and rental business which delivers medium sized power boats to renters and members alike in a unique format and pricing structure. Based in St. Petersburg, Florida, Lookin Up filed a Chapter 11 petition (Bankr. M.D. Fla. Case No. 17-08036) on Sept. 18, 2017. The Debtor is represented by Buddy D Ford, Esq., at Buddy D. Ford P.A. At the time of filing, the Debtor estimated $50,001 to $100,000 in assets and $500,001 to $1 million in liabilities. MCCLATCHY CO: May Issue 500K Shares Under 2012 Incentive Plan ------------------------------------------------------------- The McClatchy Company filed a Form S-8 registration statement with the Securities and Exchange Commission for the purpose of registering 500,000 additional shares of Class A common stock of the Company issuable pursuant to The McClatchy Company 2012 Omnibus Incentive Plan, as amended and restated. Shares of the Plan have been previously filed with the SEC on a Registration Statement on Form S-8 (File No. 333- 181167) on May 4, 2012. A full-text copy of the prospectus is available for free at: https://is.gd/a8Mmul About McClatchy The McClatchy Company -- http://www.mcclatchy.com/-- is publisher of iconic brands such as the Miami Herald, The Kansas City Star, The Sacramento Bee, The Charlotte Observer, The (Raleigh) News & Observer, and the (Fort Worth) Star-Telegram. McClatchy operates 30 media companies in 29 U.S. markets in 14 states, providing each of its communities with high-quality news and advertising services in a wide array of digital and print formats. McClatchy is headquartered in Sacramento, Calif., and listed on the New York Stock Exchange under the symbol MNI. McClatchy reported a net loss of $34.19 million for the year ended Dec. 25, 2016, compared to a net loss of $300.2 million for the year ended Dec. 27, 2015. As of June 25, 2017, the Company had $1.68 billion in total assets, $1.68 billion in total liabilities, and a $8.74 million stockholders' deficit. * * * McClatchy continues to hold Moody's Investors Service's "Caa1" corporate family rating. In December 2015, Moody's affirmed the "Caa1" corporate family rating rating and changed the rating outlook to stable from positive due to continued weakness in the print advertising market and the ongoing pressure on the company's operating cash-flow. McClatchy continues to hold Standard & Poor's "B-" corporate credit rating (outlook stable). As reported by the TCR on April 2, 2014, S&P affirmed all ratings on McClatchy including the 'B-' corporate credit rating, and revised the rating outlook to stable from positive. The outlook revision to stable reflected S&P's expectation that the timeframe for a potential upgrade lies beyond the next 12 months, and could also depend on the company realizing value from its digital minority interests. MD2U MANAGEMENT: May Continue Using Cash Collateral --------------------------------------------------- The Hon. Joan A. Lloyd of the U.S. Bankruptcy Court for the Western District of Kentucky authorized MD2U Management, LLC, and its affiliates to continue to use, in its ordinary course of business, all of the prepetition accounts receivable of the Debtors and any post-petition accounts receivable generated by the debtors-in-possession in this proceeding. Byline Bank will have, as adequate protection for its claims of security for the use of the accounts receivable as cash collateral of the Debtors, a security interest in: i. a continued security interest in and to all prepetition accounts receivable of the Debtors; ii. a security interest in and to all postpetition accounts receivable of the debtor in possession and proceeds thereof; and iii. a security interest in the inventory of the Debtors and the debtors-in-possession and the proceeds thereof. A copy of the Order is available at: http://bankrupt.com/misc/kywb17-32761-58.pdf About MD2U Management Founded in 2010 and based in Louisville, Kentucky MD2U Management, LLC -- http://www.md2u.com/-- provides home-based primary medical care services for chronic and acute illnesses. The Company offers adult primary care, medication management, post discharge visits, wound care visits, mental and behavioral healthcare, mobility assessments, home medical equipment assessments, end of life care, and mental health services. It serves to home-bound or home-limited patients in Kentucky, Indiana, Ohio and North Carolina. MD2U Management LLC and its affiliates MD2U Kentucky LLC, MD2U Indiana LLC, and MD2U North Carolina LLC each filed separate Chapter 11 petition (Bankr. W.D. Ky. Case Nos. 17-32761 to 17-32764) on Aug. 29, 2017. The cases are jointly administered. The petitions were signed by Joel Coleman, president. MD2U Management estimated $500,000 to $1 million in assets and $1 million to $10 million in debt. MD2U Kentucky estimated between $1 million and $10 million in assets, and $500,000 to $1 million in debt. The Debtors are represented by Charity Bird Neukomm, Esq., at Kaplan & Partners LLP. MIDWAY GOLD: Court Junks 2nd Amended Joint Ch. 11 Liquidation Plan ------------------------------------------------------------------ Judge Michael E. Romero of the U.S. Bankruptcy Court for the District of Colorado issued an order denying the confirmation of the Second Amended Joint Chapter 11 Plan of Liquidation filed by Midway Gold US, Inc., and its debtor affiliates. The Court's concern, in this case, is with the breadth of the claims subject to Article IX.D's release provisions and their connection to the Debtors and the Chapter 11 Cases. Based on the Court's reading of Article IX.D, the non-debtor third-party releases are not as "narrowly tailored" as the Debtors argue -- the universe of potentially released claims includes claims strictly among non-debtors which may have no connection to the Debtors, the property of the Debtors' estates or the administration of the Chapter 11 Cases. Whether the Court may consider approval of releases of or injunctions against such claims hinges on whether the Court has jurisdiction over those peripheral claims in the first place. The claims and disputes between the third-party non-debtors subject to Article IX.D are not, and would not be, cases brought under the Bankruptcy Code because neither the Releasing Parties nor the non-debtor Released Parties are debtors in these bankruptcy cases. Nor are the disputes between the non-debtor Releasing Parties and non-debtor Released Parties strictly "arising under" the Bankruptcy Code because the "Causes of Action and any other debts, obligations, rights, suits, damages, actions, remedies and liabilities" being released under Article IX.D are not limited to causes of action under the Bankruptcy Code, such as avoidance actions. In fact, the Causes of Action purportedly being released by the third-party non-debtors are, by definition, claims "of any of the Debtors, the Debtors-in- Possession and/or the Estates" which the non-debtor Releasing Parties likely lack any standing to assert or release in the first place. In support of the Court's exercise of subject matter jurisdiction over the third-party releases, the Debtors argue because the releases "are limited to post-petition claims and conduct occurring during these cases, they necessarily arise in these cases." First, this argument is belied by the actual language of the third-party release, which provides for releases of claims "existing or taking place on or after the Petition Date." If the Releasing Parties' claims were in existence on the Petition Date, then it is reasonable for the Court to conclude the universe of claims being released includes pre-petition claims against the non-debtor Released Parties unrelated to the Debtors, the property of the Debtors' estates or the administration of the Chapter 11 Cases. Moreover, the Court cannot find it has "arising in" jurisdiction over the proceedings simply because the releases are included within a proposed Chapter 11 plan. It is true the Court has subject matter jurisdiction over these Chapter 11 Cases pursuant to 28 U.S.C. section 157(a) and "confirmations of plans" are expressly made core proceedings under 28 U.S.C. section 157(b)(2)(L) which the Court may hear and determine on a final basis. However, the Court cannot permit third-party non-debtors to bootstrap their disputes into a bankruptcy case in this fashion. With respect to the Representatives and Professionals of the Senior Secured Parties and the Subordinate Secured Lenders, the Court must again raise the issue of a lack of subject matter jurisdiction over independent third-party claims against them. Not only are these individuals not contributing any of their own assets to the Plan, but the Court cannot think of a scenario, based on the evidence before it, where a suit against any of the Representatives and Professionals of this particular non-debtor Released Parties could conceivably have such an effect on the Debtors' Estates as to confer "related to" jurisdiction by this Court. The apparent consent by some of the Releasing Parties to the third-party releases under the Plan does not cure this jurisdictional defect. A full-text copy of Judge Romero's Order dated Oct. 6, 2017, is available at: http://bankrupt.com/misc/cob15-16835-1322.pdf About Midway Gold Midway Gold Corp., incorporated on May 14, 1996 under the laws of the Province of British Columbia, Canada, is engaged in the acquisition, exploration and development of mineral properties located in the state of Nevada and Washington. Midway Gold operates primarily through its wholly-owned subsidiary located in the United States, Midway Gold US Inc. The executive offices are in Englewood, Colorado. Midway US currently has one gold producing property: the Pan gold mine located in White Pine County, Nevada. Midway also has gold properties which are exploratory stage projects where gold mineralization has been identified, such as the Tonopah project in Nye County, Nevada, the Gold Rock project in White Pine County, Nevada, and the Golden Eagle project in Ferry County, Washington. Out of these projects, a permitting process has been undertaken only for the Gold Rock project. Finally, Midway's Spring Valley property, another gold property located in Pershing County, Nevada, is subject to a joint venture with Barrick Gold Exploration Inc. On June 22, 2015, Midway Gold US Inc. and 12 related entities, including parent Midway Gold Corp. each filed a petition in the U.S. Bankruptcy Court for the District of Colorado seeking relief under Chapter 11 of the U.S. Bankruptcy Code. The Debtors' cases have been assigned to Judge Michael E. Romero. Judge Michael E. Romero directed the joint administration of the cases under Case No. 15-16835, Midway Gold US Inc. The Debtors tapped Squire Patton Boggs (US) LLP as lead bankruptcy counsel; Sender Wasserman Wadsworth, P.C., as special bankruptcy and restructuring counsel; DLA Piper (Canada) LLP, as Canadian bankruptcy counsel; Ernst & Young Inc., as information officer of Canadian court; RBC Capital Markets, as investment banker; FTI Consulting as financial advisor; and Epiq Solutions, as claims and noticing agent. Midway Gold Corp. disclosed $184 million in assets and $62.4 million in liabilities as of March 31, 2015. Midway Gold US Inc., disclosed total assets of $2,461,673 and total liabilities of $122,448,181 as of the Chapter 11 filing. The U.S. Trustee appointed seven creditors to serve on the official committee of unsecured creditors in the Debtors' cases. The creditors are American Assay Laboratories, EPC Services Company, InFaith Community Foundation, Jacobs Engineering Group Inc., SRK Consulting (US) Inc., Sunbelt Rentals, and Boart Longyear. Gavin/Solmonese LLC serves as its financial advisor. MISSIONARY ASSEMBLY: May Use Cash Collateral Through Nov. 28 ------------------------------------------------------------ The Hon. Elizabeth D. Katz of the U.S. Bankruptcy Court for the District of Massachusetts has authorized Missionary Assembly of God of Marlborough Inc. to use cash collateral through Nov. 28, 2017. A hearing to consider the further use of cash collateral will be held on Nov. 28, 2017. The Debtor's counsel must file an updated budget and explanation of specific items, as outlined in open court this date, on or before Nov. 17, 2017. A copy of the Order is available at: http://bankrupt.com/misc/mab17-41182-98.pdf As reported by the Troubled Company Reporter on Sept. 21, 2017, the Court authorized the Debtor to use cash collateral through Sept. 20, 2017. About Missionary Assembly of God of Marlborough Inc. Missionary Assembly of God of Marlborough Inc. is a religious corporation as defined by Massachusetts law, and a Sec. 501(c)(3) charitable organization that operates as church for Christian fellowship. Its financial problems stem in part from a decline in attendance, but mostly from the fact that the mortgage on the property was a short-term, balloon mortgage which came due. Missionary Assembly of God filed a Chapter 11 bankruptcy petition (Bankr. D. Mass. Case No. 17-41182) on June 28, 2017, estimating under $50,000 in both assets and liabilities. The Hon. Elizabeth D. Katz presides over the case. The Debtor hired David G. Baker, Esq., at the Law Office of David G. Baker, as counsel. MONTCO OFFSHORE: Taps Drinker Biddle as Special Counsel ------------------------------------------------------- Montco Offshore, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Drinker Biddle & Reath LLP as special counsel. The firm will provide legal advice on any restructuring issue related to the confirmation of a plan of reorganization or liquidation, and any sale of assets of the company and its affiliates. Montco also anticipates that the firm will represent the company in connection with a case (Adv. Proc. No. 17-03402) it filed against Alliance Energy Services, LLC and three other companies. The attorneys and paralegal who will be providing the services and their hourly rates are: Vincent Slusher Partner $835 Stacy Lutkus Senior Attorney $515 Daniel Northrop Paralegal $345 Drinker Biddle does not represent or hold any interest adverse to the Debtors and their estates, according to court filings. In accordance with Appendix B-Guidelines for reviewing fee applications filed by attorneys in larger Chapter 11 cases, Vincent Slusher, Esq., disclosed that the firm's hourly rates for its employment with the Debtors are consistent with those rates that it charges other comparable Chapter 11 clients. Mr. Slusher also disclosed that the firm did not represent the Debtors in the 12 months prior to their bankruptcy filing and that it expects to develop a prospective budget and staffing plan. Drinker Biddle can be reached through: Vincent P. Slusher, Esq. Drinker Biddle & Reath LLP 1717 Main St., Suite 5400 Dallas, TX 75201-7367 Phone: (469) 357-2500 Fax: (469) 327-0860 About Montco Offshore Based in Galliano, Louisiana, Montco Offshore, Inc. -- http://www.montco.com/mo-- was founded by the Orgeron family in 1948. Over its 60+ years, the Company has served the offshore energy industries with crew boats, ocean-going tugs, deck barges, supply boats, and liftboats. Currently, Montco specializes in liftboats ranging in size from 235 feet to 335 feet which provide the best quality and safety of service for customers requiring versatile elevated vessels/work-platforms. Montco has total fleet of six vessels includes (a) two 335' class liftboats, known as (i) "Robert," which was unveiled in the first quarter of 2012, and (ii) "Jill," which was completed in 2014; (b) two 245' class liftboats, known as (i) "Kayd," which was completed in 2006, and (ii) "Myrtle;" which was completed in 2002; and (c) two 235' class liftboats, each completed in 2009, known as (i) "Paul," and (ii) "Caitlin." Montco Offshore, Inc. and its affiliate Montco Oilfield Contractors, LLC, filed separate Chapter 11 petitions (Bankr. S.D. Tex. Lead Case No. 17-31646) on March 17, 2017. The petitions were signed by Derek C. Boudreaux, the CFO. As of the Petition Date, on a book basis, Montco Offshore had an aggregate of approximately $265 million in total assets and approximately $136 million in total liabilities. MO Contractors had approximately $84 million in total assets (which are mostly made up of receivables) and approximately $126 million in total liabilities. As of the Petition Date, the Debtors estimated that $5.3 million was due and owing to holders of prepetition trade claims against MO Contractors, and $75 million was due and owing to holders of prepetition trade claims against MO Contractors, not including the intercompany obligations. The cases are assigned to Judge Marvin Isgur. DLA Piper LLP (US) is serving as the Debtors' bankruptcy counsel, with the engagement led by Vincent P. Slusher, Esq., David E. Avraham, Esq., and Adam C. Lanza, Esq. Blackhill Partners, LLC, is the Debtors' financial advisor and investment broker, with Joe Stone, Todd Heinz, and Tripp Ballard leading the engagement. BMC Group, Inc. is the claims and noticing agent. On March 29, 2017, the Office of the U.S. Trustee appointed an official committee of unsecured creditors. Porter Hedges LLP is serving as counsel to the Creditors Committee, with the engagement led by John F Higgins, IV, Joshua W. Wolfshohl, and Eric Michael English. MONTEZUMA MEXICAN: Latest Plan to Pay Priority Claims in 5 Years ---------------------------------------------------------------- Montezuma Mexican Restaurant Inc. filed its latest Chapter 11 plan of reorganization, which proposes to pay priority unsecured claims over five years. An earlier version of the plan proposed to pay priority unsecured claims in five years. The latest plan proposes to pay in full each creditor holding a priority unsecured claim pursuant to section 507(a)(8) of the Bankruptcy Code. Payments will be made in equal monthly installments over five years following the effective date of the plan, according to the company's latest disclosure statement filed on September 20 with the U.S. Bankruptcy Court for the Southern District of New York. A copy of the third disclosure statement is available for free at: http://bankrupt.com/misc/nysb15-10365-142.pdf About Montezuma Mexican Restaurant Headquartered in Bronx, New York, Montezuma Mexican Restaurant Inc. has been in the restaurant business, selling authentic Mexican food while providing entertainment including Karaoke Sundays, DJ entertainment during the week, and live musical performances on Fridays and Saturdays. The Debtor filed for Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Case No. 15-10365) on Feb. 20, 2015. The petition was signed by Magdalena Dominguez, president. At the time of the filing, the Debtor disclosed that it had estimated assets of less than $500,000 and liabilities of $1 million and $10 million. Judge Martin Glenn presides over the case. David C. McGrail, Esq., at McGrail & Bensinger LLP serves as the Debtor's bankruptcy counsel. MOREHEAD MEMORIAL: May Use Cash Collateral Through Nov. 17 ---------------------------------------------------------- The Hon. Benjamin A. Kahn of the U.S. Bankruptcy Court for the Middle District of North Carolina has entered a fifth stipulation and agreed interim order authorizing Morehead Memorial Hospital to use cash collateral through and including Nov. 17, 2017. A hearing to consider entry of further relief on the Debtor's continued use of the cash collateral is scheduled for Nov. 15, 2017, at 9:30 a.m. As reported by the Troubled Company Reporter on Sept. 6, 2017, the Court entered on Aug. 30, 2017, an agreed interim order authorizing the use of Berkadia Commercial Mortgage, LLC, and First-Citizens Bank & Trust Company's cash collateral through and including Sept. 15, 2017. The Debtor will pay Berkadia and First-Citizens all interest, fees, and charges including, without limitation, all obligations, expenses, and other charges accruing under the Berkadia Secured Financing Agreements or the First-Citizens Secured Financing Agreements and Assignments, respectively, regardless of whether the amounts appear on the budget, subject to a full reservation of rights by the Debtor and the Committee to seek recharacterize of such payments as payments of principal to the extent that it is determined that the claims of Berkadia and First-Citizens are not oversecured pursuant to Section 506(b) of the U.S. Bankruptcy Code. All payments of interest will be calculated at the applicable interest rate under the Berkadia Secured Financing Agreements or the First-Citizens Secured Financing Agreements and Assignments, as applicable, in effect as of the Petition Date. The Debtor grants, assigns, and pledges to Berkadia and HUD valid, perfected, and enforceable liens and security interests in all of the Debtor's accounts receivable created from and after the Petition Date and all of the Debtor's right, title, and interest in, to, and under the Berkadia Pre-Petition Collateral, to the extent same existed on the Petition Date and the proceeds, products, offspring, rents, and profits of all of the foregoing, all as may otherwise be described in the Berkadia Secured Financing Agreements. Subject and subordinate only to the carve-out, the Berkadia Note Obligations, to the extent that the stay under Section 362 of the Bankruptcy Code or the use, sale, or lease of the Berkadia Prepetition Collateral results in a decrease in Berkadia's interest in the Berkadia Prepetition Collateral, are granted and entitled to status as an administrative expense claim pursuant to Section 507(b) of the Bankruptcy Code, with priority over all other administrative expense claims. Subject and subordinate only to the carve-out, the First-Citizens Note Obligations, to the extent that the stay under Section 362 of the Bankruptcy Code, or the use, sale, or lease of the First-Citizens Prepetition Collateral results in a decrease in First-Citizens' interest in the First-Citizens Prepetition Collateral, is granted and entitled to status as an administrative expense claim pursuant to Section 507(b) of the Bankruptcy Code, with priority over all other administrative expense claims. A copy of the Order is available at: http://bankrupt.com/misc/ncmb17-10775-233.pdf About Morehead Memorial Hospital Founded in 1924, Morehead Memorial Hospital -- http://www.morehead.org/-- is a North Carolina non-profit corporation that owns and operates a 108-bed general acute care community hospital on a 22-acre campus located at 117 East Kings Highway, Eden, North Carolina. Within the Hospital Real Property, Morehead Memorial also owns and operates a 121-bed skilled nursing facility. It also owns several other parcels of real property located in Eden that are contiguous to, or in the general vicinity of, the Hospital Real Property. Morehead Memorial Hospital filed for Chapter 11 bankruptcy protection (Bankr. M.D.N.C. Case No. 17-10775) on July 10, 2017, estimating its assets and liabilities at between $10 million and $50 million. The petition was signed by Dana M. Weston, the CEO. Judge Benjamin A. Kahn presides over the case. Thomas W. Waldrep, Jr., Esq., Jennifer B. Lyday, Esq., and Francisco T. Morales, Esq., at Waldrep LLP, serve as the Debtor's bankruptcy counsel. The Debtor also hired Womble Carlyle Sandridge & Rice, LLP, as special counsel; Grant Thornton LLP as financial advisor; Hanlon Hammond Camp LLC as investment banker and operational and strategic advisor; and Donlin, Recano & Company, Inc., as claims and noticing agent. On July 24, 2017, William Miller, the bankruptcy administrator for the Middle District of North Carolina, appointed an official committee of unsecured creditors. The Committee retained law firms Nelson Mullins Riley & Scarborough LLP, and Sills Cummis & Gross, P.C., as co-counsel. OCEAN RIG: Court Orders Discharge of Joint Provisional Liquidators ------------------------------------------------------------------ Ocean Rig UDW Inc., an international contractor of offshore deepwater drilling services, on Oct. 9, 2017, disclosed that the Grand Court of the Cayman Islands (the "Cayman Court") has issued an order discharging Simon Appell of AlixPartners Services UK LLP and Eleanor Fisher of Kalo (Cayman) Ltd. (formerly AlixPartners (Cayman) Limited) as joint provisional liquidators of the Company and its subsidiaries, Drill Rigs Holdings Inc. ("DRH"), Drillships Financing Holding Inc. ("DFH"), and Drillships Ocean Ventures Inc. ("DOV," and together with UDW, DRH and DFH, the "Scheme Companies"), effective as of October 18, 2017 (the "JPL Discharge Order"). The JPL Discharge Order also appoints Iraklis Sbarounis, Vice President and Secretary of UDW, as successor to the JPLs for purposes of acting as the authorized foreign representative of the Scheme Companies in their Chapter 15 proceedings and in connection with the enforcement, defense, amendment or modification of any order issued therein. As previously announced by the Company, the schemes of arrangement proposed by the Scheme Companies (the "Schemes") became fully effective on September 22, 2017. As a result of the Schemes, the Ocean Rig Group has been substantially deleveraged through an exchange of approximately $3.7 billion principal amount of debt for (i) new equity of the Company, (ii) approximately $288 million of cash, and (iii) $450 million of new secured debt. The Schemes affected only financial indebtedness. Operations continue unaffected. Trade creditors and vendors will continue to be paid in the ordinary course of business and are not affected by any of the Schemes. George Economou, Chairman and CEO commented: "On behalf of the Ocean Rig Group I extend my sincere appreciation to Simon and Eleanor for their dedication and guidance through this complex restructuring process." A copy of the Explanatory Statement, which contains the Schemes, and other relevant documentation is available through the website of Prime Clerk LLC, the Scheme Companies' Information Agent at https://cases.primeclerk.com/oceanrig. About Ocean Rig Nicosia, Cyprus-based Ocean Rig UDW Inc. (NASDAQ: ORIG) -- http://www.ocean-rig.com/-- is an international offshore drilling contractor providing oilfield services for offshore oil and gas exploration, development and production drilling, and specializing in the ultra-deepwater and harsh-environment segment of the offshore drilling industry. On March 24, 2017, Ocean Rig UDW Inc., et al., filed winding up petitions with the Cayman Court and issued summonses for the appointment of joint provisional liquidators for the purpose of the Restructuring. By orders of the Cayman Court dated March 27, 2017, Simon Appell and Eleanor Fisher were appointed as the JPLs and duly authorized foreign representatives, and the Cayman Provisional Liquidation Proceedings were commenced. Simon Appell and Eleanor Fisher of AlixPartners, LLP, in their capacities, as the joint provisional liquidators and authorized foreign representatives, filed for Chapter 15 protection for Ocean Rig and its affiliates (Bankr. S.D.N.Y. Lead Case No. 17-10736) on March 27, 2017, to seek recognition of the Cayman proceedings. The JPLs' U.S. counsel are Evan C. Hollander, Esq., and Raniero D'Aversa Jr., Esq., at Orrick, Herrington & Sutcliffe LLP, in New York. * * * On Sept. 15, 2017, the Grand Court of the Cayman Islands sanctioned the schemes of arrangements of the Company and its subsidiaries, Drill Rigs Holdings Inc. ("DRH"), Drillships Financing Holding Inc. ("DFH"), and Drillships Ocean Ventures Inc., ("DOV," and together with UDW, DRH and DFH, the "Scheme Companies"). The terms of the restructuring have therefore been approved by the Cayman Court. OMINTO INC: Incurs $4.14 Million Net Loss in Second Quarter ----------------------------------------------------------- Ominto, Inc., filed with the Securities and Exchange Commission its quarterly report on Form 10-Q disclosing a net loss attributable to the Company of $4.14 million on $7.86 million of revenue for the three months ended March 31, 2017, compared to a net loss attributable to the Company of $3 million on $3.99 million of revenue for the three months ended March 31, 2016. For the six months ended March 31, 2017, Ominto reported a net loss attributable to the Company of $6.43 million on $13.73 million of revenue compared to a net loss attributable to the Company of $5.01 million on $9.42 million of revenue for the same period during the prior year. Ominto reported a net loss of $10.30 million for the year ended Sept. 30, 2016, and a net loss of $11.69 million for the year ended Sept. 30, 2015. As of March 31, 2017, Ominto had $68.62 million in total assets, $48.03 million in total liabilities and $20.58 million in total stockholders' equity. The Company generated net cash flows from operating activities of approximately $800,000 during the six months ended March 31, 2017, consisting primarily of the positive effect of net changes in assets and liabilities. The Company used cash flows from operations totaling $4.2 million during the six months ended March 31, 2016, consisting primarily of the negative effect of net changes in assets and liabilities. The Company used net cash flows from investing activities of approximately $2.5 million during the six months ended March 31, 2017, due to the purchase of a $2.0 million debenture in connection with the acquisition of Lani Pixels and $500,000 of partial consideration for the purchase of 20% of Lani Pixels from Kim Pagel. The Company used cash flows from investing activities of approximately $506,000 for capital expenditures during the six months ended March 31, 2016. The Company generated net cash flows from financing activities during the six months ended March 31, 2017, from the sale of approximately 823,000 shares of its common stock to various investors for cash consideration of $4.1 million. The Company generated cash flows from financing activities totaling $2.0 million during the six months ended March 31, 2016 from $1.4 million of proceeds from convertible loan, $362,260 of proceeds from the sale of common stock and $250,000 of proceeds from the exercise of a warrant for shares of common stock. Revenue increased by $3.9 million or 96.7% to approximately $7.9 million in the second fiscal quarter of 2017, versus approximately $4.0 million over the prior year comparable period. Gross income was approximately $3.5 million or 44.0% gross margin compared to approximately $1.0 million and 24.5% in the prior year period. Operating margin improved by 19.3 points to -56.6% from -75.9% in the prior year period. The net loss from continuing operations was approximately $4.5 million in the second quarter of 2017, or a loss of $0.23 per share, compared with the net loss from continuing operations of approximately $3.0 million, or a loss of $0.25 per share, in the second fiscal quarter 2016. Net cash flow from continuing operations for the six months ended March 31, 2017 improved to $790,211 from a loss of $4.2 million in the same period of the prior year. In the six-month period ended March 31, 2017, revenue increased by $4.3 million or 45.7% to approximately $13.7 million versus approximately $9.4 million over the prior year comparable period. Gross income was approximately $5.4 million or 39.1% gross margin for the six months ended March 31, 2017 compared to approximately $2.5 million and 26.7% in the prior year period. Operating margin improved by 6.4 points to -49.7% for the six months ended March 31, 2017, from -56.1% in the prior year period. The net loss from continuing operations was approximately $6.9 million in the first six months of 2017, or a loss of $0.40 per share, compared with the net loss from continuing operations of approximately $5.0 million, or a loss of $0.43 per share, in the same period of the prior year. Michael Hansen, chief executive officer, stated, "Our financial performance continues to improve and demonstrates the further penetration and acceptance of our DubLi.com product worldwide. Our strategy continues to be one of growing our global customer base through deepening our presence in existing countries and selectively expanding into new countries. We are also focused on adding new stores to our shopping platform to offer increased Cash Back opportunities to our customers. We are pleased with our continued investment into the DubLi.com product platform, as was demonstrated with the launch of our new VIP Lounge on April 18. We are also diligently managing our costs and evaluating further opportunities for cost efficiencies. We believe in our model, our concept and our future." Mr. Hansen, continued, "The response to our new VIP Lounge has been favorable. It has always been our goal to offer our global customer base a superior shopping and savings opportunity when they shop at DubLi.com. We expect the VIP Lounge opportunity to drive increased VIP member penetration, offering strong recurring revenues at solid margins." During the second quarter, in recognition of the Company's Founder and CEO, Michael Hansen's efforts in helping the company obtain its approval for listing on Nasdaq Capital Markets, the company awarded him a one-time cash bonus of $2,000,000. In addition, the company awarded 100,000 shares of restricted common stock to Mr. Hansen and accelerated the vesting of 100,000 shares of restricted common stock previously awarded. Mr. Hansen subsequently purchased 300,000 shares of common stock from the company at the price of $6.90 per share, $2,000,000 of which was paid during the second quarter and $70,000 of which was paid during the third quarter. A full-text copy of the Form 10-Q is available for free at: https://is.gd/3jFRqu About Ominto, Inc. Ominto, Inc. -- http://inc.ominto.com/-- is a global e-commerce company and pioneer of online Cash Back shopping, delivering value-based shopping and travel deals through its primary shopping platform and affiliated Partner Program websites. At DubLi.com or at Partner sites powered by Ominto.com, consumers shop at their favorite stores, save with the best coupons and deals, and earn Cash Back with each purchase. The Ominto.com platform features thousands of brand name stores and industry-leading travel companies from around the world, providing Cash Back savings to consumers in more than 120 countries. Ominto's Partner Programs offer a white label version of the Ominto.com shopping and travel platform to businesses and non-profits, providing them with a professional, reliable web presence that builds brand loyalty with their members, customers or constituents while earning commission for the organization and Cash Back for shoppers on each transaction. PFO GLOBAL: Trustee Taps Litzler Segner as Accountant ----------------------------------------------------- The Chapter 11 trustee for PFO Global, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to hire an accountant. Shawn Brown, the bankruptcy trustee, proposes to employ Litzler, Segner, Shaw & McKenney LLP to assist him in determining the assets of the company and its affiliates; prepare tax returns; determine claims; and develop litigation strategy accounting data to analyze whether potential claims or causes of action exist. The firm's standard hourly rates are: Partner $365 - $425 Associates $175 - $325 Paraprofessional $65 - $135 Kelly McCullough, a certified public accountant employed with Litzler, disclosed in a court filing that the firm is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Kelly McCullough Litzler, Segner, Shaw & McKenney, LLP 1412 Main Street, 24th Floor Dallas, TX 75202 Tel: 214-752-0999 Fax: 214-752-0990 Email: admin@lssmllp.com About PFO Global PFO Global, Inc., and its affiliates are a consolidated group of companies that operate in the eyewear and lenses industry worldwide. Global owns 100% of the equity interests in Pro Fit Optix Holding Company, LLC. In turn, Holding owns 100% of the equity interests in Pro Fit Optix, Inc., PFO Technologies, LLC, PFO Optima, LLC, and PFO MCO, LLC. PFO Global, Pro Fit Optix Holding Company, Pro Fit Optix, PFO Technologies, PFO Optima, and PFO MCO, filed Chapter 11 petitions (Bankr. N.D. Tex. Lead Case No. 17-30355) in Dallas on Jan. 31, 2017. Rosa R. Orenstein, Esq., and Nathan M. Nichols, Esq., at Orenstein Law Group, P.C., serve as the Debtors' bankruptcy counsel. Haynes and Boone, LLP, is their special corporate and securities law counsel. Mahesh Shetty, a certified public accountant, is the Debtor's financial officer. In February 2017, a three-member panel was appointed as official committee of unsecured creditors in the Debtors' case. The Committee retained Shraiberg, Ferrara, Landau & Page, P.A., as legal counsel, and McCathern, PLLC as local counsel. On June 21, 2017, Shawn K. Brown was appointed Chapter 11 trustee. PHOTOMEDEX INC: Incurs $1.84 Million Net Loss in First Quarter -------------------------------------------------------------- PhotoMedex, Inc. filed with the Securities and Exchange Commission its quarterly report on Form 10-Q reporting a net loss of $1.84 million on $3.53 million of revenues for the three months ended March 31, 2017, compared to a net loss of $4.87 million on $11.23 million of revenues for the three months ended March 31, 2016. As of March 31, 2017, PhotoMedex had $14.05 million in total assets, $13.38 million in total liabilities and $677,000 in total stockholders' equity. To date, and subsequent to the recent sale of the Company's last significant business unit, the Company has dedicated most of its financial resources to sales and marketing, general and administrative expenses and research and development. A full-text copy of the Form 10-Q is available for free at: https://is.gd/SvfRi1 About PhotoMedex Willow Grove, Pennsylvania-based PhotoMedex, Inc., is a global health products and services company providing integrated disease management and aesthetic solutions to dermatologists, professional aestheticians, ophthalmologists, optometrists, consumers and patients. The Company provides proprietary products and services that address skin conditions including psoriasis, vitiligo, acne, actinic keratosis, photo damage and unwanted hair, as well as fixed-site laser vision correction services at its LasikPlus(R) vision centers. PhotoMedex reported a loss of $13.26 million in 2016, following a loss of $34.55 million in 2015. As of June 30, 2017, PhotoMedex reported $17.61 million in total assets, $9.73 million in total liabilities, and $7.87 million in total stockholders' equity. Fahn Kanne & Co. Grant Thornton Israel, in Tel-Aviv, Israel, issued a "going concern" opinion on the consolidated financial statements for the year ended Dec. 31, 2016, citing that as of Dec. 31, 2016, the Company had an accumulated deficit of $115.6 million and shareholders' deficit of $1.408 million. Also, during the most recent periods the Company has incurred losses and negative cash flows from continuing operations and was forced to sell certain assets and business units to obtain additional liquidity resources to support its operations. In addition, on Jan. 23, 2017, the Company completed the sale of its consumer products division which represented the sale of substantially all of the remaining operations and assets of the Company. These conditions, along with other matters, raise substantial doubt about the Company's ability to continue as a going concern. POINT.360: Case Summary & 20 Largest Unsecured Creditors -------------------------------------------------------- Debtor: Point.360, a California Corporation dba DVDs on the Run, Inc. dba Digital Film Labs dba International Video Conversions, Inc. dba Modern VideoFilm dba Movie Q dba Visual Sound Closed Captioning Services dba Eden FX 2701 Media Center Drive Los Angeles, CA 90065 Type of Business: Point.360 -- http://www.point360.com/-- is an integrated media management services company providing film, video and audio post-production, archival, duplication and data distribution services to motion picture studios, television networks, independent production companies and multinational companies. With locations in greater Los Angeles, the Company provides the services necessary to edit, master, reformat and archive its clients' audio, video, and film content, which include television programming, feature films, and movie trailers. On July 8, 2015, Point.360 acquired the assets of Modern VideoFilm to expand the Company's service offering. The Company also rents and sells DVDs and video games directly to consumers through its Movie>Q retail stores. Point.360's interconnected facilities provide service coverage to major U.S. media centers. Case No.: 17-22432 Chapter 11 Petition Date: October 10, 2017 Court: United States Bankruptcy Court Central District of California (Los Angeles) Judge: Hon. Julia W. Brand Debtor's Counsel: Lewis R Landau, Esq. LEWIS R. LANDAU, ATTORNEY AT LAW 22287 Mulholland Hwy., # 318 Calabasas, CA 91302 Tel: 888-822-4340 Fax: 888-822-4340 Email: Lew@Landaunet.com Total Assets: $11.14 million as of March 31, 2017 Total Debts: $14.77 million as of March 31, 2017 The petition was signed by Haig S. Bagerdjian, president. A full-text copy of the petition is available for free at: http://bankrupt.com/misc/cacb17-22432.pdf List of Debtor's 20 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount ------ --------------- ------------ Medley Opportunity Fund II, LP $6,284,000 375 Park Avenue, 33rd Floor New York, NY 10152 REEP-OFC 2300 Empire CA LLC $927,522 2300 Empire Avenue Suite 175 Burbank, CA 91504 Danielle Schoelen Tel: 818-334-4043 Email: DSchoelen@LPC.com L.A. County Tax Collector $242,906 Box 514818 Los Angeles CA 90051 Tel: 213-620-7948 Email: info@ttc.lacounty.gov Blue Shield of California $175,947 Leafs Properties, LP $142,155 Email: Bridget@SeaPropertyManagement.com United Healthcare Insurance Co. $142,152 Email: Judy.Eastin@uhc.com Wilcon $131,384 Email: candalon@wilcon.com Media Storage Group $96,776 Email: eric@mediastoragegroup.com Troy Gould PC $78,092 Email: WGould@troygould.com Sub-Tech Localization SVCS $72,187 Email: invoices@sub-techs.com Zayo Group $64,102 Email: al.ruiz@zayo.com Sony Electronics Inc. $51,987 Email: Victoria.Jaime@am.sony.com Sohonet, Inc. $48,062 Email: saundra.dunbar@sohonet.com American Express $43,225 Email: ggalterio@jaffeanasher.com Signiant, Inc. $42,500 Email: JWhelehan@signiant.com Sfera Studios LLC $41,624 Email: Joanna.Blei@bydeluxe.com Acco Engineered Systems $40,467 Email: smith@mmlawyers.com AFCO $38,877 Email: Steven.Nelson@Marsh.com La Media Center Owners Assoc. $34,794 Email: Accounting@paragonres.com Sfera Lab LLC $27,318 Email: Joanna.Blei@bydeluxe.com POINT.360: Files Voluntary Chapter 11 Bankruptcy Petition --------------------------------------------------------- Point.360, a provider of integrated media management services, on Oct. 11, 2017, disclosed that it has filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Central District of California (the "Bankruptcy Court"). The Company intends to use the filing to reorganize its capital structure and gain access to liquidity, reduce costs and liabilities, optimize its operations and locations to meet customer demands and create the most value for stakeholders. The Company is considering all possible options for maximizing stakeholder value, including further consolidation of facilities. The Company believes that the restructuring will allow it to become more competitive in today's post production market. It is also reviewing investment options with existing stakeholders and third parties. Haig S. Bagerdjian, the Company's Chairman, President and Chief Executive Officer said, "We believe the restructuring is a positive step for the future of the Company and we are committed to providing our customers quality post production services. We value our relationships with our vendors and appreciate their support throughout this process. We will continue to offer the same unparalleled service for which the Company has been known since its founding." During the restructuring process, the Company plans to continue to operate its business as usual and to fulfill customer orders and pay vendors. The Company has filed with the Bankruptcy Court, and anticipates receiving approval of, customary motions to allow the Company to make certain necessary payments to employees and vendors that will ensure continued operations through the restructuring and beyond. About Point.360 Point.360 (otc-pink:PTSX) -- http://www.point360.com/-- is a value add service organization specializing in content creation, manipulation and distribution processes integrating complex technologies to solve problems in the life cycle of Rich Media. With locations in greater Los Angeles, Point.360 performs high and standard definition audio and video post production, creates virtual effects and archives and distributes physical and electronic Rich Media content worldwide, serving studios, independent producers, corporations, non-profit organizations and governmental and creative agencies. Point.360 provides the services necessary to edit, master, reformat and archive clients' audio and video content, including television programming, feature films and movie trailers. Point.360's interconnected facilities provide service coverage to all major U.S. media centers. PORTRAIT INNOVATIONS: Taps Finley Group as Financial Advisor ------------------------------------------------------------ Portrait Innovations, Inc. and Portrait Innovations Holding Co. won approval from the U.S. Bankruptcy Court for the Western District of North Carolina to hire a financial advisor. The Debtors employed The Finley Group to, among other things, provide advice on the business merits of various restructuring options; negotiate with lenders and creditors; review their cash flow model; and provide court testimony. The firm's standard hourly rates are: Managing Directors $395 Directors $300 Managers $250 Paraprofessionals $125 The Finley Group holds a retainer in the sum of $50,000. Elaine Rudisill, managing director of The Finley Group, disclosed in a court filing that her firm is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Elaine T. Rudisill The Finley Group 212 South Tryon St., Suite 1050 Charlotte, NC 28202 Phone: (704) 375-7542 Fax: (704) 342-0879 About Portrait Innovations Based in Charlotte, North Carolina, Portrait Innovations Inc. -- http://www.portraitinnovations.com/-- provides in-studio photography sessions to consumers on both a walk-in and appointment basis. The Company offers a variety of portrait packages and other products such as canvases, mugs, calendars and holiday cards to its customers after the session's completion, as well as through its online portal, http://www.portraits.com/ As of Sept. 1, 2017, Portrait operated more than 119 studios in 31 states. On Sept. 1, 2017, Portrait Innovations, Inc. and parent Portrait Innovations Holding Company filed voluntary petitions under the provisions of Chapter 11 of the United States Bankruptcy Code (Bankr. W.D.N.C. Lead Case No. 17-31455). The petitions were signed by John Grosso, president and chief executive officer. Each of the Debtors estimated assets and debt of $10 million to $50 million. The Hon. Craig J. Whitley is the case judge. Rayburn Cooper & Durham, P.A., serves as counsel to the Debtors. Rust Consulting/Omni Bankruptcy is the claims and noticing agent. On September 20, 2017, the court ordered the appointment of an official committee of unsecured creditors. PORTRAIT INNOVATIONS: Taps Hilco as Real Estate Advisor ------------------------------------------------------- Portrait Innovations, Inc. and Portrait Innovations Holding Co. sought and obtained approval from the U.S. Bankruptcy Court for the Western District of North Carolina to hire a real estate advisor. The Debtors propose to hire Hilco Real Estate, LLC to assist them in negotiating the terms of restructuring and termination agreements with their landlords. The Debtors and Hilco have agreed that for any assigned or sold lease or for any terminated lease, the firm will earn a fee, which is 15% of any cash value paid to the Debtors for the lease. Meanwhile, for any restructured lease, the firm will earn a fee equal to a base fee of $1,500, plus the aggregate "restructured lease savings" multiplied by 7.75%. Hilco received a retainer in the sum of $50,000 from the Debtors. Ryan Lawlor, vice-president and deputy general counsel of Hilco, disclosed in a court filing that his firm is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Ryan Lawlor Hilco Real Estate, LLC 5 Revere Dr., Suite 320 Northbrook, IL 60062 Phone: 847-714-1288 About Portrait Innovations Based in Charlotte, North Carolina, Portrait Innovations Inc. -- http://www.portraitinnovations.com/-- provides in-studio photography sessions to consumers on both a walk-in and appointment basis. The Company offers a variety of portrait packages and other products such as canvases, mugs, calendars and holiday cards to its customers after the session's completion, as well as through its online portal, http://www.portraits.com/ As of Sept. 1, 2017, Portrait operated more than 119 studios in 31 states. On Sept. 1, 2017, Portrait Innovations, Inc. and parent Portrait Innovations Holding Company filed voluntary petitions under the provisions of Chapter 11 of the United States Bankruptcy Code (Bankr. W.D.N.C. Lead Case No. 17-31455). The petitions were signed by John Grosso, president and chief executive officer. Each of the Debtors estimated assets and debt of $10 million to $50 million. The Hon. Craig J. Whitley is the case judge. Rayburn Cooper & Durham, P.A., serves as counsel to the Debtors. Rust Consulting/Omni Bankruptcy is the claims and noticing agent. On September 20, 2017, the court ordered the appointment of an official committee of unsecured creditors. PORTRAIT INNOVATIONS: Taps Piper Jaffray as Investment Banker ------------------------------------------------------------- Portrait Innovations, Inc. and Portrait Innovations Holding Co. won approval from the U.S. Bankruptcy Court for the Western District of North Carolina to hire an investment banker. The Debtors employed Piper Jaffray & Co. to, among other things, review their financial condition and outlook; participate in negotiations with creditors; and assist them in obtaining approval of the transactions contemplated under their employment agreement. Piper Jaffray previously received a total of $100,000 under a prior agreement with the Debtors dated July 5, 2017. Under a new agreement, the firm will receive a fee for any closed transaction equal to 5% of the total gross proceeds of a sale, payable promptly upon consummation of the transaction. However, the transaction fee will be subject to a minimum fee of $1 million (subject to a credit of 50% of the prior payment). The firm will also receive reimbursement for work-related expenses. Teri Stratton, managing director of Piper Jaffray, disclosed in a court filing that the firm and its professionals are "disinterested persons" as defined in section 101(14) of the Bankruptcy Code. Piper Jaffray can be reached through: Teri Stratton Piper Jaffray & Co. 444 South Flower Street, Suite 1675 Los Angeles, CA 90071 Tel: +1 310-297-6030 About Portrait Innovations Based in Charlotte, North Carolina, Portrait Innovations Inc. -- http://www.portraitinnovations.com/-- provides in-studio photography sessions to consumers on both a walk-in and appointment basis. The Company offers a variety of portrait packages and other products such as canvases, mugs, calendars and holiday cards to its customers after the session's completion, as well as through its online portal, http://www.portraits.com/ As of Sept. 1, 2017, Portrait operated more than 119 studios in 31 states. On Sept. 1, 2017, Portrait Innovations, Inc. and parent Portrait Innovations Holding Company filed voluntary petitions under the provisions of Chapter 11 of the United States Bankruptcy Code (Bankr. W.D.N.C. Lead Case No. 17-31455). The petitions were signed by John Grosso, president and chief executive officer. Each of the Debtors estimated assets and debt of $10 million to $50 million. The Hon. Craig J. Whitley is the case judge. Rayburn Cooper & Durham, P.A., serves as counsel to the Debtors. Rust Consulting/Omni Bankruptcy is the claims and noticing agent. On September 20, 2017, the court ordered the appointment of an official committee of unsecured creditors. PORTRAIT INNOVATIONS: Taps Troutman Sanders as Corporate Counsel ---------------------------------------------------------------- Portrait Innovations, Inc. and Portrait Innovations Holding Co. sought and obtained approval from the U.S. Bankruptcy Court for the Western District of North Carolina to hire Troutman Sanders LLP as special counsel. The firm will provide legal services to the Debtors related to various corporate, commercial, real estate and litigation matters. The firm's standard hourly rates range from $420 to $1,175 for partners, $150 to $525 for associates, and $100 to $315 for paralegals. The hourly rates for the professionals who will be providing the services range from $225 to $850. Troutman received a retainer in the sum of $55,000 prior to the petition date. Chad Warpula, Esq., disclosed in a court filing that he and his firm do not represent any interest adverse to the Debtors or their estates. The firm can be reached through: Chad Warpula, Esq. Troutman Sanders LLP 301 S. College St., 34th Floor Charlotte, NC 28202 Phone: 704-998-4050 About Portrait Innovations Based in Charlotte, North Carolina, Portrait Innovations Inc. -- http://www.portraitinnovations.com/-- provides in-studio photography sessions to consumers on both a walk-in and appointment basis. The Company offers a variety of portrait packages and other products such as canvases, mugs, calendars and holiday cards to its customers after the session's completion, as well as through its online portal, http://www.portraits.com/ As of Sept. 1, 2017, Portrait operated more than 119 studios in 31 states. On Sept. 1, 2017, Portrait Innovations, Inc. and parent Portrait Innovations Holding Company filed voluntary petitions under the provisions of Chapter 11 of the United States Bankruptcy Code (Bankr. W.D.N.C. Lead Case No. 17-31455). The petitions were signed by John Grosso, president and chief executive officer. Each of the Debtors estimated assets and debt of $10 million to $50 million. The Hon. Craig J. Whitley is the case judge. Rayburn Cooper & Durham, P.A., serves as counsel to the Debtors. Rust Consulting/Omni Bankruptcy is the claims and noticing agent. On September 20, 2017, the court ordered the appointment of an official committee of unsecured creditors. QUADRANGLE PROPERTIES: Agreed Order on Cash Use Entered ------------------------------------------------------- The Hon. Edward Ellington of the U.S. Bankruptcy Court for the Southern District of Mississippi has entered an agreed order authorizing Quadrangle Properties, Inc.'s limited use of cash collateral. The Debtor suffered a fire at its premises in June 2015. After the fire, Nationwide Insurance remitted the amount of $303,025.04 to the Debtor and ZB, N.A. dba Zions First National Bank. Those funds were ultimately deposited into the trust account maintained by counsel for Zions. These funds constitute cash collateral subject to Zions' lien rights under the terms of the loan documents. Real estate taxes in the amount of $22,651.45 for 2016 were due on the property, and had remained unpaid by the time of the last hearing on this matter. The property was scheduled to be sold for taxes on Aug. 28, 2017. Origin Bank was owed $7,919.65 as of Sept. 19, 2017, with additional interest since that time, but minus any adequate protection payments made since that time. In order to avoid the potential sale of the property for taxes, counsel for Zions obtained consent of the Debtor's counsel, and caused the amount of $22,651.45 to be withdrawn from his firm's trust account, and paid to the Hinds County Tax Assessor on Aug. 25, 2017. That expenditure is approved, nunc pro tunc. In addition, the parties have agreed that the fire insurance proceeds may be used to pay the senior lien of Origin Bank, in full. Counsel for Zions is hereby authorized to obtain a payoff figure from counsel for Origin Bank, and to use the cash collateral held in his firm's trust account to satisfy this debt, and to obtain a release of the deed of trust held by Origin Bank. A copy of the court order is available at: http://bankrupt.com/misc/mssb17-01469-76.pdf As reported by the Troubled Company Reporter on June 30, 2017, ZB asked the Court to prohibit the Debtor from using any cash collateral securing the Debtor's loan obligations to Zions, or alternatively, conditioning the use on terms acceptable to Zions and the Court. About Quadrangle Properties Quadrangle Properties, Inc., headquartered in Jackson, Mississippi, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Miss. Case No. 17-01469) on April 18, 2017. The petition was signed by R. Don Williams, president. The Debtor estimated assets of $1 million to $10 million and liabilities of $500,000 to $1 million. The Hon. Edward Ellington presides over the case. Craig M. Geno, Esq., at the Law Offices of Craig M. Geno, PLLC, serves as the Debtor's legal counsel. ROADRUNNER TRANSPORTATION: Gets NYSE Listing Compliance Extension ----------------------------------------------------------------- Roadrunner Transportation Systems, Inc., an asset-right transportation and asset-light logistics service provider, on Oct. 10, 2017, disclosed that it has received an extension for continued listing and trading of Roadrunner's common stock on the New York Stock Exchange (the "NYSE"). The extension, which is subject to review by the NYSE on an ongoing basis, provides Roadrunner until December 15, 2017 to file with the Securities and Exchange Commission ("SEC") Roadrunner's Annual Report on Form 10-K for the fiscal year ended December 31, 2016 and Roadrunner's Quarterly Reports on Form 10-Q for the three months ended March 31, 2017 and June 30, 2017. The delay in filing these reports is the result of Roadrunner's previously disclosed financial restatement process. During the extension period, trading of Roadrunner's shares on the NYSE will remain unaffected. The NYSE has discretion under its rules to grant Roadrunner further extensions beyond December 15, 2017. About Roadrunner Transportation Systems Roadrunner Transportation Systems, Inc. (NYSE: RRTS) -- http://www.rrts.com-- is an asset-right transportation and asset-light logistics service provider offering a full suite of solutions under the Roadrunner Freight, Roadrunner Express, Roadrunner Temperature Controlled, Roadrunner Truckload Plus, Roadrunner Intermodal Services and Ascent Global Logistics(R) brands. The Roadrunner brand offers solutions including less-than-truckload, air and ground domestic and cross-border expedite, dry van and temperature controlled truckload logistics and intermodal services. The Ascent Global Logistics brand offers domestic freight management, retail consolidation, international freight forwarding and customs brokerage. ROSE COURT: Voluntary Chapter 11 Case Summary --------------------------------------------- Debtor: Rose Court, LLC 77 Van Ness Ave. #101 P.O. Box 1008 San Francisco, CA 94102 Type of Business: Rose Court, LLC, a real estate company, is the owner of a real property located at 15520 Quito Rd., Monte Sereno, CA 95030, valued by the Company at $3.50 million. Rose Court's gross revenue from rental investment amounted to $99,762 in 2016 compared to gross revenue from rental investment of $150,000 in 2015. The Company previously sought bankruptcy protection on Feb. 1, 2010 (Bankr. N.D. Cal. Case No. 10-50993) and Nov. 6, 2012 (Bankr. N.D. Cal. Case No. 12-58012). Chapter 11 Petition Date: October 10, 2017 Case No.: 17-31014 Court: United States Bankruptcy Court Northern District of California (San Francisco) Judge: Hon. Hannah L. Blumenstiel Debtor's Counsel: Vince D. Nguyen, Esq. NEWTON LAW GROUP 1361 S Winchester Blvd. #111 San Jose, CA 95128 Tel: (408) 828-8078 Email: vincen@newtonlawgroup.com Total Assets: $3.51 million Total Liabilities: $3.28 million The petition was signed by Teri Nguyen, managing member. The Debtor did not file a list of 20 largest unsecured creditors together with the petition. A full-text copy of the petition is available for free at: http://bankrupt.com/misc/canb17-31014.pdf SALAD & CO: Not Allowed to Use Rents, Cash Collateral ----------------------------------------------------- The Hon. Laurel M. Isicoff of the U.S. Bankruptcy Court for the Southern District of Florida signed an order, at the behest of Secured Lenders Armando Gutierrez, Jr. and Victor Bao, prohibiting Salad & Co. Inc. from using any rents, profits, proceeds, and revenues derived from the real property located at 1245 S.W. 22nd Street, Miami, Florida 33145. The Debtor is required to remit any amounts constituting cash collateral to the Secured Lenders immediately upon receipt. The Court also directs any tenant occupying the Property, including The Cake Lounge, to pay rent directly to the Secured Lenders, and the Debtor agrees to cooperate and not interfere with the Secured Lenders' rights to such payments from the tenant. Furthermore, the automatic stay is modified to allow the Secured Lenders to respond to and defend against any relief requested by the Debtor in the Circuit Court of the 11th Judicial Circuit of Florida in and for Miami-Dade County, Case No. 2016-20952 CA 01, or any other related case filed by the Debtor seeking relief regarding the Property or the Secured Lenders' rights with respect thereto. Armando Gutierrez, Jr. and Victor Bao are represented by: Matthew A. Petrie, Esq. EHRENSTEIN CHARBONNEAU CALDERIN 501 Brickell Key Drive, Suite 300 Miami, Florida 33131 Telephone: 305.722.2002 E-mail: map@ecclegal.com SALAD & CO: Secured Lenders Try to Block Use of Cash Collateral --------------------------------------------------------------- Secured lenders Armando Gutierrez, Jr., and Victor Bao ask the U.S. Bankruptcy Court for the Southern District of Florida to prohibit Salad & Co., Inc.'s use of cash collateral. On Jan. 29, 2007, the Debtor executed a promissory note in the principal amount of $475,000 in favor of the Secured Lenders. In order to secure the Debtor's obligations under the Promissory Note, the Debtor also executed a Purchase Money First Mortgage in favor of the Secured Lender which, among other things, (a) grants to Secured Lender a first-priority lien on the real property located at 1245 S.W. 22nd Street, Miami, Florida 33145 and all rents, profits, proceeds, and revenues derived from the Property, (b) assigns to Secured Lender all rents and profits arising from any and all present and future leases or subleases of any part of the Property, and (c) requires the Debtor to insure the Property. Despite specific provisions in the Mortgage prohibiting the Debtor from leasing any portion of the Property without the Secured Lender's prior written consent, in April 2015, the Debtor entered into a lease agreement with The Cake Lounge with respect to the Property without the Secured Lender's consent. Under the terms of the Lease, the Tenant paid rent directly to the Debtor on the 15th day of each month. As of the Petition Date, rent was $3,245.00 plus sales tax per month. Since approximately March 2016, the Debtor has failed to make any payment to the Secured Lender under the Note and Mortgage. Accordingly, on Aug. 12, 2016, the Secured Lender commenced a foreclosure action in the Circuit Court of the 11th Judicial Circuit of Florida in and for Miami-Dade County. On Jan. 27, 2017, the State Court entered an agreed order on Plaintiff's motion for assignment of rents, which directs the Debtor to pay all rents received from the Property to the Miami Dade County Clerk of Court and disburse 39.20% of the funds, which pertain to Victor Bao's portion of the Mortgage interest, and to hold the balance of 60.80% in escrow. In accordance with the terms of the Mortgage and the order on assignment of rents, the Tenant paid rent to the Secured Lender or for the Secured Lender's benefit from February 2017 through June 2017. On July 5, 2017, the State Court entered an unopposed final judgment of foreclosure in favor of the Secured Lender and against the Debtor in the aggregate amount of $903,732.68 plus additional interest at the prevailing legal rate of 4.75% per year and ordered the Property to be sold at public auction on Aug. 4, 2017. The foreclosure sale was subsequently postponed to Aug. 21, 2017. Upon information and belief, after the filing of the Chapter 11 case, the Debtor has sought payment of rent directly from the Tenant in direct contravention of the Mortgage and the order on assignment of rents and without the consent of the Secured Lender to the use of cash collateral. According to the Secured Lenders, the Debtor has failed to insure the Property, thereby severely prejudicing the Secured Lender and placing the Property and the Secured Lender at great risk of loss. Upon information and belief the Debtor has continued to attempt to collect rents derived from the Property. The Debtor's attempts to collect rent directly contravenes the State Court's court order on assignment of rents as well as the U.S. Bankruptcy Code provisions requiring the Debtor to either obtain the Secured Lender's consent (which it has not done) or to obtain relief from the Court (which it has not done). Accordingly, the Debtor's use of the cash collateral after the Petition Date is not and has not been authorized or consented to, and the Debtor should be prohibited from continuing to collect rent from the Property or otherwise use cash collateral unless and until it obtains authority from the Court or the consent of the Secured Lender. The Secured Lenders claim that the Debtor cannot demonstrate that the Secured Lender's interest in the Property or the cash collateral is adequately protected. Indeed, the Debtor has not insured the Property, as required by the Mortgage, and even by the Debtor's own valuations, the Property is woefully undersecured. The Debtor has no employees and no operations. The only other scheduled claims, other than the claim of the Secured Lender, are purported claims of insiders and a $5,500 claim of the Internal Revenue Service. This case is a two-party dispute and it is evident that the Debtor filed the petition in bad faith solely to stop the foreclosure sale and with no intent -- or ability -- to reorganize. Accordingly, the Secured Lender is filing a motion contemporaneously herewith seeking dismissal of this case. A copy of the Secured Lenders' request is available at: http://bankrupt.com/misc/flsb17-20528-20.pdf The Secured Lenders are represented by: Matthew Petrie, Esq. EHRENSTEIN CHARBONNEAU CALDERIN 501 Brickell Key Drive, Suite 300 Miami, FL 3313 1 Tel: (305) 722-2002 Fax: (305) 722-2001 E-mail: map@ecclegal.com About Salad & Co. Headquartered in Miami, Florida, Salad & Co., Inc., filed for Chapter 11 bankruptcy protection (Bankr. S.D. Fla. Case No. 17-20528) on Aug. 20, 2017, estimating its assets at up to $50,000 and its liabilities at between $500,000 and $1 million. David C. Rubin, Esq., at David C. Rubin P.A., serves as the Debtor's bankruptcy counsel. SEARS CANADA: Fails to Find Buyer, to Close 130 Remaining Stores ---------------------------------------------------------------- Unable to find a viable offer for a going-concern transaction, Sears Canada Inc. said it will shutter its remaining 130 stores, leaving 12,000 employees without jobs. Sears Canada will ask the Ontario Superior Court of Justice (Commercial List) at a hearing on Oct. 13, 2017, for approval to liquidate all of its remaining stores and assets. The retailer said it has signed an Amended and Restated Agency Agreement dated as of Oct. 10, 2017, with a contractual joint venture comprised of Gordon Brothers Canada ULC, Merchant Retail Solutions ULC, Tiger Capital Group, LLC, and GA Retail Canada ULC. The Agreement provides for the liquidation of Sears Canada's remaining locations, including 74 Full-Line stores and 8 Home Stores. On Aug. 15, 2017, Brandon Stranzl, Sears Canada's Chief Executive Offer, stepped away from the day-to-day operations of the Company and focused efforts on the development of a going concern proposal for Sears Canada. The Company, however, said that notwithstanding revisions made to the offer, the Stranzl bid remains conditional in a number of respects, and accordingly presents significant closing risk and uncertain recoveries. According to Sears Canada, the terms of the proposal also provide lower recoveries to non-assumed unsecured creditors than are available through individual sales of Sears Canada's remaining assets and a liquidation of remaining inventory and furniture, fixtures and other store equipment. Sears Canada on Oct. 4, won court approval to close 11 stores and sell its Corbeil specialty appliance sales business, SLH transportation and logistics business, and its home improvement business to three separate purchasers. In July 2017, Sears Canada won approval for the orderly liquidation of the inventory and FF&E at 45 retail store locations which had been identified for closure at the outset of the CCAA proceedings through the conduct of "liquidation" or similar themed sales. For the remaining 130 stores, Sears Canada said that pending approval of the Court, it is expected that liquidation sales at retail locations would commence no earlier than October 19 and continue for 10 to 14 weeks. Sears Canada was granted an Initial Order and protection under the Companies' Creditors Arrangement Act ("CCAA") on June 22, 2017. It subsequently received the Court's approval of a sale and investment solicitation process (SISP) to seek out proposals for the acquisition of, or investment in, the Sears Canada Group's business, assets and/or leases, and to implement one or a combination of proposals. In a statement Oct. 10, 2017, Sears Canada said it received and implemented going concern transactions for various lines of business, but following exhaustive efforts, no viable transaction for the Company to continue as a going concern was received. Accordingly, Sears Canada, with the recommendation of its advisors and approval of the Monitor, FTI Consulting Inc., is seeking an order to commence a liquidation that would result in a wind-down of its business following Court approval. The Company deeply regrets this pending outcome and the resulting loss of jobs and store closures. About Sears Canada Sears Canada Inc. is an independent Canadian digital and store-based retailer and technology company whose head office is based in Toronto. Sears Canada's unique brand format offers premium quality Sears Label products, designed and sourced by Sears Canada, and of-the-moment fashion and home decor from designer labels in The Cut @ Sears. Sears Canada also has a top ranked appliance and mattress business in Canada. Sears Canada is undergoing a reinvention, including new customer experiences at every touchpoint, a new e-commerce platform, new store concepts, and a new set of customer service principles designed to deliver WOW experiences to customers. Information can be found at sears.ca/reinvention. Sears Canada operates as a separate entity from its U.S.- based co-founder, now known as Sears Holdings Corp. based in Illinois. The Company's balance sheet as of April 29, 2017, showed total assets of C$1.187 billion against total liabilities of C$1.107 billion. Amid mounting losses and liquidity constraints Sears Canada and certain of its subsidiaries on June 22, 2017, applied to the Ontario Superior Court of Justice (Commercial List) for protection under the Companies' Creditors Arrangement Act ("CCAA"), in order to continue to restructure its business. Sears Canada and its subsidiaries on June 22, 2017, were granted an order (the "Initial Order") under the Companies' Creditors Arrangement Act (the "CCAA"). Pursuant to the Initial Order, FTI Consulting has been appointed Monitor. Sears Canada and certain of its subsidiaries have obtained orders from the Ontario Superior Court of Justice (Commercial List) extending the stay period provided by the Initial Order to Nov. 7, 2017, under the CCAA. The Company has engaged BMO Capital Markets, as financial advisor, and Osler, Hoskin & Harcourt LLP, as legal advisor. The Board of Directors and the Special Committee of the Board of Directors of the Company has retained Bennett Jones LLP, as legal advisor. FTI Consulting is the Court-appointed monitor. The Monitor tapped Norton Rose Fulbright Canada LLP as counsel. SERENITY HOMECARE: Has Court's Final Nod to Use Cash Collateral --------------------------------------------------------------- The Hon. W. Kolwe of the U.S. Bankruptcy Court for the Western District of Louisiana has entered a final order authorizing Serenity Homecare, LLC, and its affiliates to use any cash or cash proceeds which are subject to the liens and security interests of the United States of America through the Internal Revenue Service, The Cottonport Bank, and MidDelta Health Group, Inc., pursuant to certain tax liabilities, lines of credit and security interests granted and executed pre-petition. As adequate protection for the use of the cash collateral, replacement lien will be granted unto the IRS, to the extent that it is demonstrated in due course that the IRS was secured prepetition above and beyond senior liens. A first priority replacement lien will be granted unto The Cottonport Bank and Mid-Delta Health Group, Inc., in accordance with the respective security agreements and/or mortgages between the Debtors and these parties. The Adequate Protection Liens and all liens in favor of the United States of America/IRS will be subject and subordinate to the payment of $50,000 for the payment of: (i) all fees and interest requested to be paid to the Office of the U.S. Trustee; (ii) all reasonable fees and expenses incurred by a patient care ombudsman if required and appointed; and (iii) to the extent allowed by the Court at any time, all accrued and unpaid fees, disbursements, costs and expenses incurred by professionals or professional firms retained by the Debtors or any committee appointed under the U.S. Bankruptcy Code, however, that nothing in this court order will be construed to impair the right of any party to object to any fees, expenses, reimbursement or compensation sought by any professionals or any other person or entity. The Court further directs that any and all funds and accounts levied by the IRS and held by depository banks be released unto the Debtors. The Debtors are authorized to make adequate protection payments to Mid-Delta in an amount sufficient to pay the entirety of their secured claim at the contract rate of interest over five years and to Cottonport Bank in an amount sufficient to cover the interest on their real estate loan on a monthly basis, once those figures are provided to the Debtors by Mid-Delta and Cottonport Bank, with the first payment being due thirty days from the provision of those figures by Mid-Delta and Cottonport Bank. This court order is without prejudice to the rights of Mid-Delta or Cottonport Bank to seek further adequate protection payments for their secured claims. A copy of the Order is available at: http://bankrupt.com/misc/lawb17-80881-94.pdf As reported by the Troubled Company Reporter on Sept. 15, 2017, the Court issued an order authorizing the Debtors to use any cash or cash proceeds which are subject to the liens and security interests of the United States of America through the IRS, The Cottonport Bank, and Mid-Delta Health Group, Inc. About Serenity Homecare Serenity Homecare, LLC, is a home health care service provider in Alexandria, Louisiana. Serenity Homecare and its affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D. La. Lead Case No. 17-80881) on Aug. 22, 2017. Thomas E. Cupples, II, its member and manager, signed the petitions. Judge John W. Kolwe presides over the cases. Each of Serenity Homecare, Antigua Investments, Central Louisiana Home, Cupples Holdings, Hospice Care of Avoyelles, Quality Home Health I and Quality Home Health estimated under $50,000 in assets. Serenity Homecare and Cupples Holdings estimated under $1 million in liabilities. Antigua Investments estimated $1 million to $10 million in liabilities. Central Louisiana Home, Hospice Care of Avoyelles and Quality Home Health I estimated under $500,000 in liabilities. Quality Home Health estimated under $100,000 in liabilities. The Debtors tapped Gold, Weems, Bruser, Sues & Rundell, in Alexandria, Louisiana, as counsel. SHEPHERD UNIVERSITY: Wants Up To $10M in Financing From Queenston ----------------------------------------------------------------- Shepherd University asks for permission from the U.S. Bankruptcy Court for the Central District of California to (i) obtain new money loans under a secured superpriority priming senior credit facility, pursuant to the terms of the post-petition funding agreement with DIP lender Queenston College PTY LTD in the amount of up to $300,000 upon entry of the interim court order, and in the amount of up to $10 million upon entry of the final court order; and (ii) use cash collateral. A hearing on the Debtor's request will be held on Oct. 17, 2017, at 11:00 a.m. The Debtor requires financing and authority to use cash collateral to fund, among other things, the Debtor's cash requirements for working capital and general corporate needs. The immediate, and most urgent, requirement would be to pay the employees their post-petition salary from the proceeds of the DIP loan. The Debtor is unable to obtain adequate unsecured credit allowable under Section 503 of the U.S. Bankruptcy Code as an administrative expense or other financing under Section 364(c) or Section 364(d) of the Bankruptcy Code on equal or more favorable terms than those set forth in the DIP facility documents. The DIP loan is not available to the Debtor without granting to the DIP collateral agents, pursuant to Sections 364(c)(l), (2), (3) and 364(d) of the Bankruptcy Code, the benefits set forth in the DIP facility documents. After considering all alternatives, the Debtor has concluded in the exercise of its prudent business judgment that the loan facility provided under the DIP Agreement represents the best working capital financing available to it. The Debtor has several secured lenders who gave business loans with UCC filings. Among which, the Bank of Hope, with its earliest UCC filing date, seems to have the first priority under UCC Article 9. Bank of Hope has a loan in the amount of $1.5 million. The lender has interest in all assets or accounts of the Debtor, and claims interest in cash collateral. The DIP Loan will have no interest rate and no fees. The Lender will have a first-priority lien on all assets of the Debtor. Unless otherwise agreed by Lender, the DIP Financing will be repayable upon the earliest of (a) five days after a written demand for repayment is filed by Lender with the Court and served upon the Debtor and the Debtor's attorney, (b) entry of a court order dismissing this case or converting this case to a case under Chapter 7, and (c) the occurrence of the effective date under a confirmed plan in this case. The obligations under the DIP Facility will constitute administrative claims, pari passu with other administrative claims in this case except voluntarily subordinated to any claims of the Debtor's professionals. A copy of the Debtor's Motion is available at: http://bankrupt.com/misc/cacb17-19964-78.pdf About Shepherd University Shepherd University -- http://www.shepherduniversity.edu/-- was established in Los Angeles in August 1999 by Dr. Richard Cornel Rhee to serve the community in Southern California. Dr. Rhee founded the school in collaboration with a faculty of scholars and professionals, envisioning the purpose of educating in nursing, music, information technology and theology at the current location. The Campus of Shepherd University consists of 83,600-square-foot building, 5.87-acre campus space and more than 325 parking spots located in the section of Los Angeles near downtown. Shepherd University sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 17-19964) on Aug. 14, 2017. Shalom Kim, its president, signed the petition. At the time of the filing, the Debtor estimated assets and liabilities of $1 million to $10 million. Judge Sheri Bluebond presides over the case. Jaenam Coe, Esq., at Law Offices of Jaenam Coe PC, in Los Angeles, California, serves as counsel to the Debtor. SIXTY SIXTY CONDO: Nov. 1 Disclosure Statement Hearing ------------------------------------------------------ Judge Robert A. Mark of the U.S. Bankruptcy Court for the Southern District of Florida will convene a hearing on Nov. 1, 2017, at 10:00 a.m. to consider approval of Sixty Sixty Condominium Association Inc.'s second amended disclosure statement to accompany its second amended plan of reorganization, dated Sept. 25, 2017. The last day for filing and serving objections to the disclosure statement is Oct. 25, 2017. About Sixty Sixty Condominium Sixty Sixty Condominium is a mixed-use hotel/residential building located at 6060 Indian Creek Drive in Miami Beach, Florida. Sixty Sixty Condominium Association, Inc., a non-profit corporation, is responsible for, among other things, the management, operation, and maintenance of the Condominium's "Common Elements", and other obligations imposed by state statute. Sixty Sixty Condominium Association, Inc., filed a Chapter 11 bankruptcy petition (Bankr. S.D. Fla. Case No. 16-26187) on December 5, 2016, listing $100,000 to $500,000 in total assets, and $1 million to $10 million in liabilities. The petition was signed by Maria Velez, president of the Board of Directors. The Hon. Robert A. Mark presides over the case. Brett D. Lieberman, Esq., at Messana, P.A., represents the Debtor as counsel. Juda Eskew & Associates, PA, serves as the Debtor's accountant. An official committee of unsecured creditors has not been appointed in the Chapter 11 case. STEMTECH INT'L: Seeks Authority for Further Use of Cash Collateral ------------------------------------------------------------------ Stemtech International, Inc. files an Agreed Ex-Parte Motion requesting the U.S. Bankruptcy Court for the Southern District of Florida to authorize use cash collateral in accordance with the budget in order to fund its expenses, including, without limitation, payroll, rent, and insurance. The proposed Budget provides total operating cash disbursements in the aggregate amount of $189,000 and total non-operating cash disbursements in the aggregate amount of $179,000 during the 13-week period commencing from week ending September 8 through week ending December 1, 2017. On April 6, 2017, the Court entered the Final Order Authorizing Use of Cash Collateral the form of which was agreed to by the Debtor, Opus Bank and the Official Committee of Unsecured Creditors, which provides that that the Debtor's authorization to use cash collateral will be effective through and including June 15, 2017 unless otherwise terminated, or extended with the consent of Opus Bank or by separate order of the Court. Both Opus Bank and the Committee agree and consent to the Debtor's continued use of cash collateral in accordance with the Budget The Debtor is indebted to Opus Bank in the amount of not less than $3,351,871 as of the Petition Date, pursuant to a certain line of credit and term loan, which indebtedness are secured by valid, enforceable, properly perfected first priority liens in favor of Opus Bank on substantially all the Debtor's assets. The Debtor believes that Opus Bank's interests are adequately protected by the provisions governing adequate protection in the April 6 Final Order, which will continue in effect in the event that the Debtor will be allowed to use cash collateral. A full-text copy of the Debtor's Motion, dated Oct. 5, 2017, is available at http://tinyurl.com/ybqgeqoq About Stemtech International Stemtech International, Inc., is a holding company with assets comprising intellectual property, a leasehold interest, and direct and indirect equity interests in several subsidiaries operating both domestically and internationally. It filed a Chapter 11 bankruptcy petition (Bankr. S.D. Fla. Case No. 17-11380) on Feb. 2, 2017, estimating $1 million to $10 million in assets and liabilities. The petition was signed by Ray C. Carter, chief executive officer. The Hon. Raymond B. Ray presides over the case. The Debtor tapped Seese, P.A., as counsel; and GlassRatner Advisory & Capital Group, LLC, as its financial advisor. Guy Gebhardt, acting U.S. Trustee for Region 21, on Feb. 22, 2017, appointed three creditors of Stemtech International, Inc., to serve on the official committee of unsecured creditors. The committee members are (1) Wilhelm Keller; (2) Greg Newman; and (3) Andrew P. Leonard. The Committee retained Paul Steven Singerman, Esq., at Berger Singerman LLP as counsel. SUNSET PARTNERS: Chapter 11 Trustee Taps Verdolino as Accountant ---------------------------------------------------------------- The Chapter 11 trustee for Sunset Partners, Inc. and Bema Restaurant Corp. seeks approval from the U.S. Bankruptcy Court for the District of Massachusetts to hire an accountant. Lynne Riley, the bankruptcy trustee, proposes to employ Verdolino & Lowey, P.C., the firm previously hired by the Debtors as accountant. The firm will, among other things, assist the trustee in the sale of the Debtors' assets; prepare tax returns; assist in the liquidation or termination of benefit plans; and provide accounting services including budgeting and bookkeeping. The firm's hourly rates are: Principals $455 Managers $245 - $395 Staff $215 - $375 Bookkeepers $185 - $225 Clerical $90 The firm is holding a $25,000 retainer, which it received post-petition from Philip and Nora Balikian. Meanwhile, a secured creditor has pledged an additional $25,000 for payment of Verdolino & Lowey's fees. Craig Jalbert, a member of Verdolino & Lowey, disclosed in a court filing that he and other members of the firm are "disinterested persons" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Craig R. Jalbert Verdolino & Lowey, P.C. 124 Washington Street Foxborough, MA 02035 Tel: (508) 543-1720 About Sunset Partners Inc. Sunset Partners, Inc. is a Massachusetts corporation that owns and operates two Boston area restaurants: the Sunset Grill & Tap located at 130 Brighton Avenue, Allston, MA; and, the Sunset Cantina located at 916 Commonwealth Avenue, Brookline, MA. Affiliate Bema Restaurant Corporation, dba Patron's, is a Massachusetts corporation that owns and operates a Boston area restaurant called Patrons, which is located at 138 Brighton Avenue, Allston, Massachusetts. Sunset Partners filed for Chapter 11 bankruptcy protection (Bankr. D. Mass. Case No. 17-12178) on June 7, 2017, disclosing $1.05 million in total assets and $5.67 million in total liabilities. Bema Restaurant Corporation filed a Chapter 11 petition (Bankr. D. Mass. Case No. 17-12434) on June 29, 2017, disclosing $1.12 million in assets and $4.45 million in liabilities. The petitions were signed by Marc Berkowitz, president. The cases are jointly administered and assigned to Judge Joan N. Feeney. David B. Madoff, Esq., and Steffani Pelton Nicholson, Esq., at Madoff & Khoury LLP, served as bankruptcy counsel to the Debtors. Verdolino & Lowey, P.C., served as the Debtors' accountant. On September 25, 2017, Lynee F. Riley was appointed as the Chapter 11 trustee to the Debtors. The trustee hired Casner & Edwards LLP as counsel. TOWERSTREAM CORP: Laura Thomas Named Chief Financial Officer ------------------------------------------------------------ Towerstream Corporation appointed Laura W. Thomas as chief financial officer, succeeding Frederick Larcombe. Ms. Thomas will report to Mr. Ernest Ortega, chief executive officer, and will be instrumental in assisting Mr. Ortega to execute Towerstream's strategy for the next level of growth. Ms. Thomas, a veteran of the telecommunications industry since 1984, is a results-oriented and visionary financial professional who most recently held the position of Chairman of the Board for Impact Telecom. Prior to that, Ms. Thomas served as chief executive officer for TNCI, a national telecommunications provider of business enterprise voice, data and cloud-based services. Additionally, Ms. Thomas spent 14 years at XO Communications, an award-winning telecommunications company with $1.5B in revenue. Ms. Thomas held both the CEO and CFO positions at XO Communications after progressing through the finance organization. "I am extremely pleased to welcome Laura to Towerstream, where she will undoubtedly make an immediate impact. With her 30 years of experience within the telecommunications industry, she brings a wealth of skill and knowledge to our finance and accounting team," said Ernest Ortega, chief executive officer. "Laura will be instrumental in helping provide vision, strategy, and leadership to our organization as we strive to position ourselves as one of the premier internet service providers in the country." "This is a very exciting time to be joining Towerstream as I firmly believe the right strategy is in place to catapult the company into a very prosperous future," said Laura Thomas. "As CFO, I look forward to helping execute the company’s business and strategic plans while providing rigorous financial management. I believe there are significant opportunities ahead as we continue to provide value to our customers and shareholders." The Company and Ms. Thomas entered into an employment agreement on May 15, 2017, pursuant to which Ms. Thomas will receive an annual base salary of $240,000 and be eligible for an annual bonus of up to 50% of her base salary. In addition, she was issued options to purchase up to 2% of the Company's common stock on a fully diluted basis as of May 15, 2017, 25% of which will vest after one year of service and the remaining to vest ratably over the following three years. About Towerstream Towerstream Corporation (OTCQB:TWER) -- http://www.towerstream.com/ -- is a fixed-wireless fiber alternative company delivering Internet access to businesses. The Company offers broadband services in twelve urban markets including New York City, Boston, Los Angeles, Chicago, Philadelphia, the San Francisco Bay area, Miami, Seattle, Dallas-Fort Worth, Houston, Las Vegas-Reno, and the greater Providence area. Towerstream reported a net loss attributable to common stockholders of $22.15 million on $26.89 million of revenues for the year ended Dec. 31, 2016, compared to a net loss attributable to common stockholders of $40.48 million on $27.90 million of revenues for the year ended Dec. 31, 2015. As of June 30, 2017, Towerstream had $28.17 million in total assets, $37.64 million in total liabilities, and a total stockholders' deficit of $9.46 million. Marcum LLP, in New York, issued a "going concern" qualification on the consolidated financial statements for the year ended Dec. 31, 2016, citing that the Company has incurred significant losses and needs to raise additional funds to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. VITAMIN WORLD: Committee Taps Berkeley as Financial Advisor ----------------------------------------------------------- The official committee of unsecured creditors of Vitamin World, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Delaware to hire a financial advisor. The committee proposes to employ Berkeley Research Group, LLC to provide these services in connection with the Chapter 11 cases of the company and its affiliates: (a) advising the committee in its analysis of the Debtors' and non-debtor affiliates' historical, current, and projected financial affairs; (b) developing a periodic monitoring report to enable the committee to evaluate the Debtors' financial performance relative to projections and any relevant operational issues; (c) evaluating relief requested in cash management motion, debtor-in-possession financing arrangements, or other use of cash collateral arrangements negotiated; (d) analyzing both historical and ongoing related party transactions or material unusual transactions of the Debtors and non-Debtor affiliates; (e) scrutinizing cash disbursements and capital requirements on an on-going basis for the period subsequent to the commencement of the Debtors' cases; (f) advising the committee and its counsel in evaluating any court document filed; (g) analyzing the Debtors' and non-debtor affiliates' assets and possible recoveries to creditor constituencies under various scenarios and developing strategies to maximize recoveries; (h) attending committee meetings and court hearings as may be required; (i) reviewing and providing analyses of any bankruptcy plan and disclosure statement relating to the Debtors; (j) evaluating the Debtors' store rationalization processes and analyses; (k) monitoring the "going out of business" process; (l) assisting the committee in its assessment of the Debtors' employee needs and related costs; (m) monitoring the Debtors' claims management process; (n) analyzing and monitoring any prior sale processes and transactions; (o) advising the committee in connection with any preference payments, fraudulent conveyances, and other potential causes of action that the Debtors' estates may hold against insiders or third parties; (p) preparing certain valuation analyses of the businesses and assets of the Debtors and non-debtor affiliates using various professionally accepted methodologies; (q) evaluating and advising on the Debtors' assumption or rejection of executory contracts and leases; and (r) working with the Debtors' tax advisors to ensure that any restructuring or sale transaction is structured to minimize tax liabilities to the estate. The firm's standard hourly rates range from $650 to $980 for managing directors, $480 to $705 for directors, $260 to $475 for professional staff, and $120 to $425 for support staff. The Berkeley professionals anticipated to provide the services and their hourly rates are: David Galfus $980 Jay Borow $980 Jonathan Emerson $475 Robert Cohen $270 David Galfus, managing director of Berkeley, disclosed in a court filing that his firm is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: David Galfus Berkeley Research Group, LLC Park 80 West 250 Pehle Avenue, Suite 301 Saddle Brook, NJ 07663 Tel: 201 587 7100 Fax: 201 587 7102 About Vitamin World Vitamin World Inc., VWRE Holdings, Inc. ("RE Holdings") and other related entities sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 17-11933) on Sept. 11, 2017. Headquartered in Holbrook, New York, Vitamin World is a specialty retailer in the vitamins, minerals, herbs and supplements market. The Company offers customers products across all major VMHS and sports nutrition categories, including, supplements, active nutrition, multiples, letter vitamins, health and beauty, herbs, minerals, food and specialty items. When it filed for bankruptcy, Vitamin World was operating out of four distribution centers located in Holbrook, New York; Sparks, Nevada; Riverside, California; and Groveport, Ohio; and 334 retail stores that are mostly located in malls and outlet centers across the United States and its territories. Products are also sold online at http://www.vitaminworld.com/ The Company has 1,478 active employees. Katten Muchin Rosenman LLP is the Debtors' bankruptcy counsel. Saul Ewing Arnstein & Lehr LLP is the co-counsel. Retail Consulting Services, Inc., is the Debtors' real estate advisors. RAS Management Advisors, LLC, is the financial advisor. JND Corporate Restructuring is the claims and noticing agent. Vitamin World estimated assets of $50 million to $100 million and debt of $10 million to $50 million. WILLIAM B. LAWTON: Case Summary & 20 Largest Unsecured Creditors ---------------------------------------------------------------- Debtor affiliates that filed Chapter 11 bankruptcy petitions: Debtor Case No. ------ -------- William B. Lawton Company, L.L.C. 17-20948 641 W. Prien Lake Road Lake Charles, LA 70601 River Oaks Exploration, L.L.C. 17-20949 Rayville Resources, L.L.C. 17-20950 Type of Business: William B. Lawton Company and its debtor affiliates are engaged in the oil and gas extraction business. Chapter 11 Petition Date: October 10, 2017 Court: United States Bankruptcy Court Western District of Louisiana (Lake Charles) Judge: Hon. Robert Summerhays Debtors' Counsel: Lisa M. Hedrick, Esq. ADAMS AND REESE LLP 701 Poydras St., Ste. 4500 New Orleans, LA 70139 Tel: (504) 581-3234 Fax: (504) 566-0210 E-mail: lisa.hedrick@arlaw.com Debtors' Special Litigation Counsel: A. J. Gray, III, Esq. THE GRAY LAW FIRM, APLC William B. Lawton's Estimated Assets: $100,000 to $500,000 William B. Lawton's Estimated Debt: $1 million to $10 million The petition was signed by William T. Drost, president/manager/secretary. A full-text copy of William B. Lawton's petition containing, among other items, a list of the Debtor's 20 largest unsecured creditors, is available for free at: http://bankrupt.com/misc/lawb17-20948.pdf WILLIAMS FINANCIAL: Taps Richard F. Amsberry as Accountant ---------------------------------------------------------- Williams Financial Group, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to hire Richard F. Amsberry P.C. as accountant. The firm will, among other things, prepare the financial reports of the company and its affiliates and oversee their use of cash and cash management systems. Amsberry will be paid an hourly fee of $195 for its services. Richard Amsberry disclosed in a court filing that he and his firm are "disinterested persons" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Richard F. Amsberry Richard F. Amsberry P.C. 8340 Meadow Road, Suite 130 Dallas, TX 75231 Phone: (214) 360-9822 About Williams Financial Group Inc. Williams Financial Group, Inc. and its subsidiaries WFG Management Services Inc., WFG Investments Inc. and WFG Advisors LP sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Case Nos. 17-33578 to 17-33581) on September 24, 2017. At the time of the filing, Williams Financial Group disclosed that it had estimated assets and liabilities of $1,000,001 to $10 million. Judge Harlin Dewayne Hale presides over the cases. WYNIT DISTRIBUTION: Financing, Cash Use Have Interim Approval ------------------------------------------------------------- The Hon. Kathleen H. Sanberg of the U.S. Bankruptcy Court for the District of Minnesota has authorized WYNIT Distribution, LLC, and its affiliates to (i) obtain senior secured post-petition financing in an aggregate principal amount not to exceed $15 million from Wells Fargo Bank, National Association, as administrative agent for itself and for the lenders party to the Postpetition Credit Agreement; and (ii) to use cash collateral. A final hearing on the Postpetition Facility and use of cash collateral will be held on Oct. 26, 2017, at 2:30 p.m. The Official Committee of Unsecured Creditors and Fitbit, Inc., are given until Oct. 23, 2017, to file objections to the continued use of cash collateral. The use of cash collateral alone would be insufficient to meet the Debtors' post-petition liquidity needs. Given the Debtors' current financial condition and capital structure, the Debtors are unable to obtain (i) adequate unsecured credit allowable either (a) under Sections 364(b) and 503(b)(1) of the U.S. Bankruptcy Code or (b) under Section 364(c)(1) of the Bankruptcy Code, (ii) adequate credit secured by (x) a senior lien on unencumbered assets of their estates under Section 364(c)(2) of the Bankruptcy Code and (y) a junior lien on encumbered assets under Section 364(c)(3) of the Bankruptcy Code, or (iii) secured credit under Section 364(d)(1) of the Bankruptcy Code, from sources other than the Postpetition Agent and the Postpetition Lenders on terms more favorable than the terms of the Postpetition Facility. The only source of secured credit available to the Debtors, other than the use of Cash Collateral, is the Postpetition Facility. The Debtors may use the Cash Collateral and proceeds of the Postpetition Facility, obtain and maintain Letters of Credit and pay Postpetition Obligations solely in accordance with and pursuant to the financial covenants, availability formulae, and other terms and conditions set forth in the Postpetition Loan Documents and this Order, including, without limitation, pursuant to the approved budget, but in all events only until the earliest of (i) Dec. 7, 2017, (ii) the closing of any refinancing of the Prepetition Senior Obligations and Postpetition Obligations, (iii) confirmation of any Chapter 11 plan in the Chapter 11 cases, (iv) the conversion or dismissal of any of the Chapter 11 cases, (v) the appointment of a trustee or examiner in any of the Chapter 11 cases, and (vi) at the option of the Postpetition Agent in its sole discretion, the occurrence of any Event of Default under this court order and the Postpetition Credit Agreement. The aggregate principal amount of Revolving Loans available under the Postpetition Credit Agreement will not at any time exceed $15 million without further court order; provided, however, that from and after the entry of the first interim court order and prior to the entry of the final court order, the maximum amount will be limited to $8 million. In addition to the Postpetition Liens, the Postpetition Agent and Postpetition Lenders are granted, for all Postpetition Obligations, an allowed super-priority administrative expense claim pursuant to Section 364(c)(1) of the Bankruptcy Code against each Debtor and its respective estate. Except for the carve-out, the super-priority claim will have priority over all other costs and expenses of administration of any kind. The Prepetition Senior Agent, for its benefit and the benefit of the Prepetition Senior Lenders, is granted by each Debtor continuing valid, binding, enforceable and perfected, liens and security interests in and on all of the Postpetition Collateral. The Adequate Protection Senior Liens will (i) be subordinate only to: (A) the Carve-Out, (B) the Postpetition Liens, and (C) the Prior Liens (including the WFCDF Liens in the Excluded Inventory Collateral); and (ii) be senior and superior to the Subordinate Liens and Related Rights and, pursuant to the Prepetition Intercreditor Agreements, senior and superior to the Fitbit Junior Liens, the Fitbit Adequate Protection Liens, the WFCDF Junior Liens, and the WFCDF Adequate Protection Liens. The Prepetition Senior Agent and the Prepetition Senior Lenders will have an allowed super-priority administrative expense claim against each Debtor and its respective estate. The Adequate Protection Senior Claim will: (i) be subordinate only to: (A) the carve-out, and (B) the Super-Priority Claim; and (ii) be senior and superior to the Subordinate Claims and Related Rights. As further adequate protection, the proceeds of any Prepetition Senior Collateral and any Postpetition Collateral will be paid to Prepetition Senior Agent and Prepetition Senior Lenders for application to the Prepetition Senior Obligations until the Prepetition Senior Obligations are paid in full and Letter of Credit Collateralization with respect to all outstanding Letters of Credit has occurred. The Debtors will make all payments of interest as and when due under the Prepetition Senior Credit Agreement. The Debtors will, on the Closing Date and on a monthly basis thereafter, pay or reimburse the Prepetition Senior Agent and Prepetition Senior Lenders for any and all of its accruing, and accrued and past-due, fees, costs, expenses and charges payable under the Prepetition Senior Loan Documents, including without limitation, the reasonable attorneys' and other fees and expenses of the Prepetition Senior Agent and Prepetition Senior Lenders as provided in the Prepetition Senior Credit Agreement, whether accrued prepetition or postpetition, all without further notice, motion or application to, order of, or hearing before, the Court. The Adequate Protection Senior Liens and Adequate Protection Senior Claim will secure the payment of the Prepetition Senior Obligations in an amount equal to any diminution in the value of the Prepetition Senior Agent's interests in the Prepetition Senior Collateral from and after the Petition Date including, without limitation, any diminution resulting from (i) the use by the Debtors of the Prepetition Senior Collateral, including, without limitation, the cash collateral, (ii) the imposition of the Postpetition Liens, which will prime the Primed Liens, (iii) the imposition of the automatic stay pursuant to Section 362(a) of the Bankruptcy Code, (iv) the physical deterioration, consumption, use, sale, lease, disposition, shrinkage, or decline in market value of the Prepetition Senior Collateral or otherwise, or (v) costs and fees incurred in connection with the Prepetition Senior Loan Documents. None of the Prepetition Senior Liens will be released unless and until (i) the Prepetition Senior Obligations have been indefeasibly paid in full in cash or Letter of Credit Collateralization has occurred, (ii) the Prepetition Senior Agent and Prepetition Senior Lenders have received a release of any and all claims from each of the Debtors in form and substance acceptable to the Prepetition Senior Agent and Prepetition Senior Lenders, (iii) the Complaint Filing Deadline has occurred and all claims filed against any of the Prepetition Senior Agent and Prepetition Senior Lenders have been resolved, and (iv) the Prepetition Senior Agent and Prepetition Senior Lenders have been reimbursed in full for all liability, fees, costs, and expenses incurred in connection with any claims filed against any of them in connection with the Prepetition Senior Loan Documents. To the extent that Fitbit has a valid claim for diminution in the value, if any, of Fitbit's interests in the Fitbit Collateral from and after the Petition Date, and subject to the rights of any party in interest to challenge the extent, validity, and priority of Fitbit's claims against the Debtors and/or the Fitbit Junior Liens, Fitbit is granted replacement liens and security interests in any Postpetition Collateral consisting of same types of assets that were encumbered by the Fitbit Junior Liens to the extent that the Fitbit Junior Liens are not subject to avoidance and were valid and enforceable as of the Petition Date. The Adequate Protection Fitbit Liens will be junior and subordinate to the Prepetition Senior Liens, the Adequate Protection Senior Liens, and the carve-out. To the extent that WFCDF has a valid claim for diminution in the value, if any, of WFCDF's interests in the WFCDF Collateral from and after the Petition Date, and subject to the rights of any party in interest to challenge the extent, validity, and priority of WFCDF's claims against the Debtors and/or the WFCDF Liens, WFCDF is granted replacement liens and security interests in any Postpetition Collateral consisting of same types of assets that were encumbered by the WFCDF Liens, but only to the extent that the WFCDF Liens are not subject to avoidance and were valid and enforceable as of the Petition Date. Other than with respect to the Adequate Protection WFCDF Liens on the Excluded Inventory Collateral, which liens are senior to the Prepetition Senior Liens, the Adequate Protection Senior Liens, and the carve-out, the Adequate Protection WFCDF Liens will be junior and subordinate to the Prepetition Senior Liens, the Adequate Protection Senior Liens, and the carve-out. A copy of the court order is available at: http://bankrupt.com/misc/mnb17-42726-131.pdf About WYNIT Distribution Headquartered at Greenville, South Carolina, WYNIT Distribution, LLC, is an international distributor of products from the top brands in the consumer electronics, photo, wide format printing, security and outdoor leisure and adventure industries. WYNIT Distribution filed a Chapter 11 bankruptcy petition (Bankr. D. Minn. Case No. 17-42726) on Sept. 8, 2017. The petitions were signed by Pete Richichi, chief operating officer. The Debtor disclosed total assets and debt of $100 million to $500 million. Judge Kathleen H Sanberg presides over the case. The Debtor engaged Stinson Leonard Street LLP as counsel. The Debtor also hired Conway Mackenzie, Inc., as financial advisor, and JND Corporate Restructuring as claims, noticing, and balloting agent. The Official Committee of Unsecured Creditors formed in the case has retained Barnes & Thornburg LLP and Lowenstein Sandler LLP as its bankruptcy co-counsel. [^] Recent Small-Dollar & Individual Chapter 11 Filings ------------------------------------------------------- In re Kenneth W. Tanana Bankr. E.D. La. Case No. 17-12544 Chapter 11 Petition filed September 22, 2017 represented by: Phillip K. Wallace, Esq. E-mail: PhilKWall@aol.com In re Juan Aguirre Bankr. D. Nev. Case No. 17-15121 Chapter 11 Petition filed September 22, 2017 represented by: Gina M. Corena, Esq. LAW OFFICE OF GINA M. CORENA, ESQ. E-mail: gina@lawofficecorena.com In re Shiv Charan Singh and Pooja Thakur Bankr. E.D. Cal. Case No. 17-26329 Chapter 11 Petition filed September 23, 2017 represented by: Thomas O. Gillis, Esq. In re Hassan Mohammadi Bankr. D.D.C. Case No. 17-00555 Chapter 11 Petition filed October 2, 2017 represented by: Jeffrey M. Sherman, Esq. LAW OFFICES OF JEFFREY M. SHERMAN E-mail: jeffreymsherman@gmail.com In re Jack Aberman Bankr. M.D. Fla. Case No. 17-06404 Chapter 11 Petition filed October 2, 2017 represented by: Thomas C Adam, Esq. ADAM LAW GROUP, P.A. E-mail: tadam@adamlawgroup.com In re Franklin Properties LLC Bankr. S.D. Fla. Case No. 17-22043 Chapter 11 Petition filed October 2, 2017 See http://bankrupt.com/misc/flsb17-22043.pdf Filed Pro Se In re Steve Forrest Sayer Bankr. N.D. Ga. Case No. 17-21860 Chapter 11 Petition filed October 2, 2017 Filed Pro Se In re Harold Lynn Sutton Bankr. N.D. Ga. Case No. 17-42317 Chapter 11 Petition filed October 2, 2017 represented by: Leslie M. Pineyro, Esq. JONES AND WALDEN, LLC E-mail: lpineyro@joneswalden.com In re Richard E. Howard and Joan B. Howard Bankr. N.D. Ga. Case No. 17-67284 Chapter 11 Petition filed October 2, 2017 represented by: J. Nevin Smith, Esq. SMITH CONERLY LLP E-mail: awilson@smithconerly.com In re Channing L Kearney Bankr. N.D. Ill. Case No. 17-29452 Chapter 11 Petition filed October 2, 2017 represented by: Joseph E. Cohen, Esq. COHEN & KROL E-mail: jcohen@cohenandkrol.com In re Dean Gerard Thomas Bankr. N.D. Ill. Case No. 17-29541 Chapter 11 Petition filed October 2, 2017 represented by: J. Kevin Benjamin, Esq. BENJAMIN & BRAND LLP E-mail: attorneys@benjaminlaw.com In re Leonard Allison Richardson and Diane Joanne Richardson Bankr. D. Md. Case No. 17-23132 Chapter 11 Petition filed October 2, 2017 represented by: Aryeh E. Stein, Esq. MERIDIAN LAW, LLC E-mail: astein@meridianlawfirm.com In re David Wayne Lester Bankr. W.D. Mo. Case No. 17-42677 Chapter 11 Petition filed October 2, 2017 Filed Pro Se In re Mmm So Good, Ltd. Bankr. E.D.N.C. Case No. 17-04811 Chapter 11 Petition filed October 2, 2017 See http://bankrupt.com/misc/nceb17-04811.pdf represented by: J.M. Cook, Esq. J.M. COOK, P.A. E-mail: J.M.Cook@jmcookesq.com In re Doran Holding Company Bankr. D.N.J. Case No. 17-29969 Chapter 11 Petition filed October 2, 2017 See http://bankrupt.com/misc/njb17-29969.pdf Filed Pro Se In re Dolores Holding Company Bankr. D.N.J. Case No. 17-29974 Chapter 11 Petition filed October 2, 2017 Filed Pro Se In re Holcomb Oil & Gas, Inc. Bankr. D.N.M. Case No. 17-12521 Chapter 11 Petition filed October 2, 2017 See http://bankrupt.com/misc/nmb17-12521.pdf represented by: Catherine F Davis, Esq. HUNT & DAVIS, P.C. E-mail: cathy@huntdavislaw.com In re RNH Realty Corp. Bankr. S.D.N.Y. Case No. 17-12764 Chapter 11 Petition filed October 2, 2017 See http://bankrupt.com/misc/nysb17-12764.pdf represented by: Stephen A. Grossman, Esq. STEPHEN A. GROSSMAN & ASSOCIATES E-mail: lawyer@hamptons.com In re Cevdet Arici Bankr. S.D.N.Y. Case No. 17-23522 Chapter 11 Petition filed October 2, 2017 Filed Pro Se In re Congregation Bnei Mishnah V'Chesed, Inc. Bankr. S.D.N.Y. Case No. 17-23528 Chapter 11 Petition filed October 2, 2017 See http://bankrupt.com/misc/nysb17-23528.pdf Filed Pro Se In re Pete Enterprises, Inc. Bankr. N.D. Ohio Case No. 17-15807 Chapter 11 Petition filed October 2, 2017 See http://bankrupt.com/misc/ohnb17-15807.pdf represented by: Glenn E. Forbes, Esq. FORBES LAW LLC E-mail: bankruptcy@geflaw.net In re Shirlick Corp of PA Bankr. E.D. Pa. Case No. 17-16744 Chapter 11 Petition filed October 2, 2017 See http://bankrupt.com/misc/paeb17-16744.pdf represented by: Robert Captain Leite-Young, Esq. ROACH, LEITE & MANYIN, LLC E-mail: rleite@rlmfirm.com In re Giles Nathan Replogle and Betty Carroll Replogle Bankr. W.D. Tenn. Case No. 17-12183 Chapter 11 Petition filed October 2, 2017 represented by: Griffin S. Dunham, Esq. FROST BROWN TODD LLC E-mail: gdunham@fbtlaw.com In re David W. Ainsworth, Sr. Bankr. S.D. Tex. Case No. 17-20418 Chapter 11 Petition filed October 2, 2017 represented by: Nathaniel Peter Holzer, Esq. JORDAN HYDEN WOMBLE CULBRETH & HOLZER PC E-mail: pholzer@jhwclaw.com In re Mission Crane Service, LLC Bankr. S.D. Tex. Case No. 17-70386 Chapter 11 Petition filed October 2, 2017 See http://bankrupt.com/misc/txsb17-70386.pdf represented by: Marcos Demetrio Oliva, Esq. MARCOS D. OLIVA, PC E-mail: marcos@oliva.law In re James C. Mayek and Judith A. Mayek Bankr. W.D. Wis. Case No. 17-13416 Chapter 11 Petition filed October 2, 2017 represented by: George B. Goyke, Esq. E-mail: goyke@grandlawyers.com In re 1060 Palms, LLC Bankr. C.D. Cal. Case No. 17-22183 Chapter 11 Petition filed October 3, 2017 See http://bankrupt.com/misc/cacb17-22183.pdf represented by: Moises S. Bardavid, Esq. LAW OFFICES OF MOISES S. BARDAVID E-mail: mbardavid@hotmail.com In re V. Cruz, M.D., PLLC Bankr. M.D. Fla. Case No. 17-08466 Chapter 11 Petition filed October 3, 2017 See http://bankrupt.com/misc/flmb17-08466.pdf represented by: Buddy D. Ford, Esq. BUDDY D. FORD, P.A. E-mail: Buddy@TampaEsq.com In re Nasrin Oil Corp. Bankr. S.D. Fla. Case No. 17-22086 Chapter 11 Petition filed October 3, 2017 See http://bankrupt.com/misc/flsb17-22086.pdf represented by: David L. Merrill, Esq. MERRILL PA E-mail: dlmerrill@merrillpa.com In re PJ Hospitality, Inc. Bankr. E.D. Mich. Case No. 17-53794 Chapter 11 Petition filed October 3, 2017 See http://bankrupt.com/misc/mieb17-53794.pdf represented by: Robert N. Bassel, Esq. E-mail: bbassel@gmail.com In re Bowlin Funeral Home, Inc. Bankr. W.D. Mo. Case No. 17-20965 Chapter 11 Petition filed October 3, 2017 See http://bankrupt.com/misc/mowb17-20965.pdf represented by: Harry D. Boul, Esq. BOUL & ASSOCIATES E-mail: hboul@earthlink.net In re Reasserted Investments, LLC Bankr. E.D.N.C. Case No. 17-04844 Chapter 11 Petition filed October 3, 2017 See http://bankrupt.com/misc/nceb17-04844.pdf Filed Pro Se In re Melina Joan Shiner Bankr. D.N.J. Case No. 17-30113 Chapter 11 Petition filed October 3, 2017 represented by: Thaddeus R. Maciag, Esq. MACIAG LAW, LLC E-mail: MaciagLaw1@aol.com In re Nadav Property's LLC Bankr. E.D.N.Y. Case No. 17-76071 Chapter 11 Petition filed October 3, 2017 See http://bankrupt.com/misc/nyeb17-76071.pdf Filed Pro Se In re Rene Guzman Bankr. E.D.N.Y. Case No. 17-45121 Chapter 11 Petition filed October 3, 2017 represented by: Norma E. Ortiz, Esq. ORTIZ & ORTIZ LLP E-mail: email@ortizandortiz.com In re Meto Services LLC Bankr. E.D.N.Y. Case No. 17-76072 Chapter 11 Petition filed October 3, 2017 See http://bankrupt.com/misc/nyeb17-76072.pdf Filed Pro Se In re Horseblock Equities Inc. Bankr. E.D.N.Y. Case No. 17-76077 Chapter 11 Petition filed October 3, 2017 See http://bankrupt.com/misc/nyeb17-76077.pdf Filed Pro Se In re John D. Gilmor Bankr. S.D.N.Y. Case No. 17-36681 Chapter 11 Petition filed October 3, 2017 represented by: Bethany A. Ralph, Esq. E-mail: bralph2@aol.com In re Jayci Inc Bankr. E.D. Tenn. Case No. 17-14511 Chapter 11 Petition filed October 3, 2017 See http://bankrupt.com/misc/tneb17-14511.pdf represented by: David J. Fulton, Esq. SCARBOROUGH & FULTON E-mail: djf@sfglegal.com In re Barber Entity, Inc. Bankr. N.D. Tex. Case No. 17-33769 Chapter 11 Petition filed October 3, 2017 See http://bankrupt.com/misc/txnb17-33769.pdf represented by: Eric A. Liepins, Esq. ERIC A. LIEPINS, P.C. E-mail: eric@ealpc.com In re GreenPark Residences, Inc. Bankr. M.D. Fla. Case No. 17-08485 Chapter 11 Petition filed October 4, 2017 See http://bankrupt.com/misc/flmb17-08485.pdf represented by: Brandon L. Kolb, Esq. E-mail: kolblaw2@gmail.com In re E&E Landscaping Co., Inc. Bankr. D.N.J. Case No. 17-30237 Chapter 11 Petition filed October 4, 2017 See http://bankrupt.com/misc/njb17-30237.pdf represented by: Brian W. Hofmeister, Esq. LAW FIRM OF BRIAN W. HOFMEISTER, LLC E-mail: bwh@hofmeisterfirm.com In re Vish Auto Center Inc. Bankr. E.D.N.Y. Case No. 17-76093 Chapter 11 Petition filed October 4, 2017 See http://bankrupt.com/misc/nyeb17-76093.pdf Filed Pro Se In re Sabir Properties Inc. Bankr. W.D. Pa. Case No. 17-11060 Chapter 11 Petition filed October 4, 2017 See http://bankrupt.com/misc/pawb17-11060.pdf represented by: Donald R. Calaiaro, Esq. CALAIARO VALENCIK E-mail: dcalaiaro@c-vlaw.com In re Oak Cliff Dental Center, PLLC Bankr. N.D. Tex. Case No. 17-33780 Chapter 11 Petition filed October 4, 2017 See http://bankrupt.com/misc/txnb17-33780.pdf represented by: Robert M. Nicoud, Jr., Esq. OLSON, NICOUD & GUECK, LLP E-mail: rmnicoud@dallas-law.com In re Victor Batinovich Bankr. N.D. Cal. Case No. 17-52444 Chapter 11 Petition filed October 5, 2017 represented by: Vinod Nichani, Esq. NICHANI LAW FIRM E-mail: vinod@nichanilawfirm.com In re Mark Hymas and Amelia Hymas Bankr. D. Idaho Case No. 17-40889 Chapter 11 Petition filed October 5, 2017 represented by: James Justin May, Esq. E-mail: jmay@maybrowning.com In re KGI, LLC Bankr. N.D. Miss. Case No. 17-13774 Chapter 11 Petition filed October 5, 2017 See http://bankrupt.com/misc/msnb17-13774.pdf represented by: Gwendolyn Baptist-Rucker, Esq. THE BAPTIST LAW FIRM PLLC E-mail: sdonaldson78@gmail.com In re Irene Volk Bankr. E.D.N.Y. Case No. 17-45176 Chapter 11 Petition filed October 5, 2017 represented by: Alla Kachan, Esq. E-mail: alla@kachanlaw.com In re Boonex, Inc. Bankr. S.D. Tex. Case No. 17-35722 Chapter 11 Petition filed October 5, 2017 See http://bankrupt.com/misc/txsb17-35722.pdf represented by: Ronald Julius Smeberg, Esq. THE SMEBERG LAW FIRM PLLC E-mail: ron@smeberg.com In re Wilder Concepts, LLC Bankr. E.D. Va. Case No. 17-13378 Chapter 11 Petition filed October 5, 2017 See http://bankrupt.com/misc/vaeb17-13378.pdf represented by: Amir Raminpour, Esq. SANDGROUND, WEST, SILEK & RAMINPOUR, PLC E-mail: araminpour@swsrlaw.com In re Edward J. Barsano and Jeanne A. Barsano Bankr. D. Ariz. Case No. 17-11887 Chapter 11 Petition filed October 6, 2017 represented by: Brian N. Spector, Esq. SCHNEIDER & ONOFRY, P.C. E-mail: bspector@soarizonalaw.com In re The Great American Restaurant Company, LLC Bankr. E.D. Tex. Case No. 17-42214 Chapter 11 Petition filed October 6, 2017 See http://bankrupt.com/misc/txeb17-42214.pdf represented by: Robert T. DeMarco, Esq. DEMARCO-MITCHELL, PLLC E-mail: robert@demarcomitchell.com In re Tatiana Quintero Baiz and Luis Fernando Alvarado Ortiz Bankr. S.D. Fla. Case No. 17-22193 Chapter 11 Petition filed October 6, 2017 represented by: Michael C Fasano, Esq. E-mail: mfasano@fasanolawfirm.com In re David Pinto Bankr. S.D. Fla. Case No. 17-22225 Chapter 11 Petition filed October 6, 2017 represented by: Stan L. Riskin, Esq. E-mail: stan.riskin@gmail.com In re Maranatha Evangel Church Bankr. E.D.N.Y. Case No. 17-45210 Chapter 11 Petition filed October 8, 2017 See http://bankrupt.com/misc/nyeb17-45210.pdf represented by: Rachel Blumenfeld, Esq. LAW OFFICE OF RACHEL S. BLUMENFELD E-mail: rblmnf@aol.com In re ProFlo Industries, LLC Bankr. N.D. Ohio Case No. 17-33184 Chapter 11 Petition filed October 8, 2017 See http://bankrupt.com/misc/ohnb17-33184.pdf represented by: Patricia A. Kovacs, Esq. E-mail: patricia.a.kovacs@gmail.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 ***