/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/240103.mbx T R O U B L E D C O M P A N Y R E P O R T E R Wednesday, January 3, 2024, Vol. 28, No. 2 Headlines 100 TENNESSEE: Voluntary Chapter 11 Case Summary 133 LONE WOLF: Voluntary Chapter 11 Case Summary 1600 HICKS: Court Confirms Chapter 11 Plan 1651 SOUTH: Seeks to Continue Hearing on Disclosures to Feb. 20 1NONLY PHIMAR: Voluntary Chapter 11 Case Summary 2304 LIMITED: Case Summary & One Unsecured Creditor 383 VALENCIA: Files Amendment to Reorganizing Plan 4TH VECTOR: Case Summary & 20 Largest Unsecured Creditors 80 CROSBY TERRACE: Voluntary Chapter 11 Case Summary 9301 CHEROKEE: To Pay All Claims From Sale Proceeds AG BROTHERS: Seeks to Hire Reliant Valuations as Appraiser AIR METHODS: Davis Polk Advised Lenders in Restructuring ALPINE SUMMIT: To Seek Liquidating Plan Approval on Feb. 5 AME ZION: Trustee Seeks to Tap Golden Goodrich as General Counsel ARC MANAGEMENT: Seeks to Hire Rountree Leitman Klein as Attorney ASMARA MLK: March 1 Hearing on Plan & Disclosures Set ASPIRA WOMEN'S: Dr. Veronica G.H. Jordan Steps Down From Board ASPIRA WOMEN'S: Eric Schultz Acquires 5.26% Equity Stake AULT ALLIANCE: Unit Sues Singing Machine, Directors Over Stock Sale AULT ALLIANCE: Updates on Series D Preferred Stock Exchange Offer BACCI OF BENSENVILLE: Neema Varghese Named Subchapter V Trustee BLACKBERRY LTD: Incurs $21 Million Net Loss for Third Quarter BRADLYNN CORP: David Madoff Named Subchapter V Trustee BRENDAN GOWING: Voluntary Chapter 11 Case Summary BROOKWOOD VILLAGE: Creditors to Be Paid From Sale Proceeds CAN B CORP: Sues Arena Over Asset Sale CAPROCK LAND: Court OKs Appointment of Laurie Rea as Trustee CEL-SCI CORP: Files Form S-8 for Employee Compensation Plans CELSIUS NETWORK: Bankruptcy Court Okays Reorganization Plan CHIC NAILS: Seeks to Hire Malone Tax and Bookkeeping as Accountant CITY EATS: Hires McClain & Company as Accountant & Tax Advisor CLEAN ENERGY: Closes Securities Purchase Deal With 1800 Diagonal COMMUNITY HEALTH: CastleKnight Entities Acquire 7.1% Equity Stake CONCRETE SOLUTIONS: Amends U.S. Bank Claim Pay Details CORE SCIENTIFIC: Files Amended Reorganization Plan CUENTAS INC: Four Proposals Approved at Annual Meeting CUSMA SOBER: Frederic Schwieg Named Subchapter V Trustee DBA TRANSPORTATION: Gerard Luckman Named Subchapter V Trustee DIOCESE OF ALBANY: Seeks to Extend Plan Exclusivity to April 8 DIXON HOLDINGS: Voluntary Chapter 11 Case Summary DMD SERVICES: Court Approves Disclosure Statement DOS EX CATTLE: Case Summary & Nine Unsecured Creditors EAGLE PROPERTIES: Hires Protus Realty Inc. as Real Estate Broker ENVIVA INC: Appoints Glenn Nunziata as Director ETHEMA HEALTH: Eileen Greene Has 8.7MM Common Shares as of Dec. 22 FANJOY CO: Court Approves Disclosure Statement FARADAY FUTURE: Sells One Share of Preferred Stock to CEO for $100 FRANCISCAN FRIARS: Voluntary Chapter 11 Case Summary FREEDOM PLUMBERS: Seeks to Hire Lucove Say & Co as Accountant GAMBOA INC: Joseph DiOrio Named Subchapter V Trustee GARAGE BUILDERS: Seeks to Hire McCallop Law as Tax Professional GLOBAL DWELLING: Jolene Wee of Named Subchapter V Trustee GLOBAL VALUES: Seeks to Hire Stone & Baxter as Legal Counsel GROM SOCIAL: Closes $4 Million Private Placement GROM SOCIAL: Registers 6.86M Shares for Potential Resale GUY B. HENDRIX: Seeks to Hire Craig M. Geno as Bankruptcy Counsel HAVRE EAGLES: Debtor Will Liquidate to Pay Claims in Plan HENDRIX FARMING: Seeks to Tap Craig M. Geno as Bankruptcy Counsel HEYWOOD HEALTHCARE: Taps Houlihan Lokey as Financial Advisor HOLDINGS OF SOUTH: Case Summary & 19 Unsecured Creditors HOWARD INTERVENTION: Hires Gregory K. Stern P.C. as Legal Counsel IGIT LOGISTICS: U.S. Trustee Says Plan Disclosures Inadequate INSTANT BRANDS: Targeting Mid-February Hearing on Plan INVESTWING CAPITAL: Joseph Cotterman Named Subchapter V Trustee JERRY HARVEY: Seeks to Hire Shuker & Dorris as Legal Counsel JOANN INC: Approved to Transfer Common Stock to Nasdaq Capital JUSTICE SAND: Unsecureds' Recovery Hiked to 28% in Plan KASPIEN HOLDINGS: Files Form 25 with SEC LAEEQ MOB: Case Summary & Two Unsecured Creditors LANCASTER TRENCHING: Gary Rainsdon Named Subchapter V Trustee LATIGO PLAZA: Case Summary & Nine Unsecured Creditors LATIGO PROPERTIES: Case Summary & Nine Unsecured Creditors LAURA CHRISTY: Seeks to Hire Penachio Malara as Bankruptcy Counsel LEBANON PLATINUM: Seeks $1MM DIP Loan from DM Funding LIFOD HOME: Ombudsman Hires Rimon P.C. as Legal Counsel LOUISA RIDGE: Unsecureds Will Get 37.5% of Claims over 3 Years MAIDUL SAFA: Case Summary & Two Unsecured Creditors MCCONNELL SAND: Unsecureds Owed $1.1M to Get $100K in Plan MERCURITY FINTECH: Incurs US$2.6M Net Loss in First Half of 2023 MICROSTRATEGY INC: Buys Bitcoin Worth $615.7 Million MOLEKULE GROUP: Unsecureds to Get $150K and Net Proceeds MV REALTY: Seeks to Extend Plan Exclusivity to May 20 NORTH PONDEROSA: Unsecureds to Get Full Payment From Eventual Sale PANGEA ORGANICS: Hires Kutner Brinen Dickey Riley as Attorney PANGEA ORGANICS: Mark Dennis of SL Biggs Named Subchapter V Trustee PARTS ID: Files Chapter 11, Signs Credit Agreement With Fifth Star PENNSYLVANIA REAL ESTATE: Hires Kroll as Administrative Advisor PENNSYLVANIA REAL ESTATE: Hires Wachtell Lipton as Special Counsel PENNSYLVANIA REAL ESTATE: Taps DLA Piper as Bankruptcy Counsel PENNSYLVANIA REAL ESTATE: Taps Ordinary Course Professionals PENNSYLVANIA REAL ESTATE: Taps PJT Partners as Investment Banker PHIMARS SQUARE: Voluntary Chapter 11 Case Summary PHUNWARE INC: Nasdaq Panel Schedules Hearing for March 19 PHUNWARE INC: Ryan Costello Resigns From Board PILL CLUB PHARMACY: Creditors to Get Proceeds From Liquidation PITA FRANCHISING: Unsecureds to Get $20K Per Month for 36 Months REVELATION OIL: Case Summary & 11 Unsecured Creditors RKS ENTERPRISES: Seeks to Hire John Warekois CPA as Accountant ROCKY MOUNTAIN: Mark Dennis of SL Biggs Named Subchapter V Trustee ROMAN CATHOLIC: Unsecureds to Split $4 Million in Plan S & J SERVICE: Case Summary & 20 Largest Unsecured Creditors SALEM MEDIA: Secures $26M Revolving Facility From Siena Lending SCFT2 LLC: Hires Elliman Real Estate as Real Estate Broker SCHON ELISE: Amends Bank of West & 8876 Spanish Secured Claims SHAMBHALA TREATMENT: Seeks to Extend Plan Exclusivity to February 5 SHORT FORK FARMS: Seeks to Tap Craig M. Geno as Bankruptcy Counsel SHORT FORK: Seeks to Hire Craig M. Geno as Bankruptcy Counsel SKIN BY ASK: Eric Huebscher Named Subchapter V Trustee SPEEDWAY AUTO: Seeks to Hire Buddy D. Ford P.A. as Legal Counsel SPI ENERGY: Shareholders Elect 5 Directors STARNET LLC: Unsecureds to Get $500 per Month for 60 Months STATEN ISLAND JEWISH: Gets OK to Hire Alla Kachan, PC as Counsel STATEN ISLAND JEWISH: Hires Wisdom Professional as Accountant STEEL METHOD: Mark Hall Named Subchapter V Trustee STOWERS TRUCKING: Hires Caldwell & Riffee as Substitute Counsel STRATEGIES 360: Committee Hires DBS Law as Bankruptcy Counsel STRINGER FARMS: Case Summary & 11 Unsecured Creditors SWING AWAY: Seeks to Hire McNamee Hosea as Bankruptcy Counsel T&T STEPHENS: Craig Geno Named Subchapter V Trustee THAI KITCHEN: Unsecureds Will Get 4% of Claims over 3 Years URBAN ONE: Incurs $53.7 Million Net Loss in Third Quarter USA RV: Case Summary & 20 Largest Unsecured Creditors VBI VACCINES: Further Extends Forbearance With Lenders to Jan. 9 VESTTOO LTD: Feb. 6 Hearing on Plan & Disclosures Set WAITS R.V.: Jan. 30, 2024 Plan Confirmation Hearing Set WILLIAMS INDUSTRIAL: Unsecureds Owed Up to $25M to Get 3% to 5% ********* 100 TENNESSEE: Voluntary Chapter 11 Case Summary ------------------------------------------------ Debtor: 100 Tennessee Township, Ltd. d/b/a Rustic Pines 340 N Sam Houston Pkwy E Houston TX 77060 Business Description: 100 Tennessee is the owner of real property in Harris County, Texas, valued at $10 million. Chapter 11 Petition Date: December 31, 2023 Court: United States Bankruptcy Court Southern District of Texas Case No.: 23-35192 Judge: Hon. Jeffrey P Norman Debtor's Counsel: Leonard Simon, Esq. PENDERGRAFT & SIMON LLP 2777 Allen Parkway Suite 800 Houston TX 77019 Tel: 713-528-8555 Email: lsimon@pendergraftsimon.com Total Assets: $10,000,019 Total Liabilities: $7,894,904 The petition was signed by Joe Fogarty as president. A copy of the Debtor's list of 20 largest unsecured creditors is now available for download at PacerMonitor.com. A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/4E6X23Y/100_Tennessee_Township_Ltd__txsbke-23-35192__0001.0.pdf?mcid=tGE4TAMA 133 LONE WOLF: Voluntary Chapter 11 Case Summary ------------------------------------------------ Debtor: 133 Lone Wolf, Ltd. 340 N Sam Houston Parkway E Suite 140 Houston TX 77060 Business Description: The Debtor owns two properties in Huffman, Texas having a tax appraisal value at $23.21 million. Chapter 11 Petition Date: December 31, 2023 Court: United States Bankruptcy Court Southern District of Texas Case No.: 23-35190 Judge: Hon. Eduardo V. Rodriguez Debtor's Counsel: Leonard Simon, Esq. PENDERGRAFT & SIMON LLP 2777 Allen Parkway Suite 800 Houston TX 77019 Tel: 713-528-8555 Email: lsimon@pendergraftsimon.com Total Assets: $23,209,411 Total Liabilities: $5,296,120 The petition was signed by Joe Fogarty as president. A copy of the Debtor's list of 20 largest unsecured creditors is now available for download at PacerMonitor.com. A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/7WJAATQ/133_Lone_Wolf_Ltd__txsbke-23-35190__0001.0.pdf?mcid=tGE4TAMA 1600 HICKS: Court Confirms Chapter 11 Plan ------------------------------------------ Judge David D. Cleary has entered an order that the Fourth Amended Disclosure Statement filed by 1600 Hicks Road, LLC on Nov. 3, 2023, is approved. That the Third Amended Plan of Reorganization filed Nov. 3, 2023, is confirmed. This case is set for report of status on Feb. 21, 2024, at 10:30 A.M. About 1600 Hicks Road Rolling Meadows, Ill.-based 1600 Hicks Road, LLC, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 22-13205) on Nov. 14, 2022. Anam Qadri, partner, signed the petition. At the time of the filing, the Debtor disclosed total assets of $1,930,100 and total liabilities of $2,700,000. Judge David D. Cleary oversees the case. David P. Lloyd, Esq., at David P. Lloyd, Ltd., is the Debtor's counsel. 1651 SOUTH: Seeks to Continue Hearing on Disclosures to Feb. 20 --------------------------------------------------------------- 1651 South Stemmons, LLC, filed a motion for continuance of the hearing on the Disclosure Statement explaining its Chapter 11 Plan. On Nov. 28, 2023, the Debtor filed Debtor's Plan of Reorganization and Debtor's Disclosure Statement. The hearing on the Disclosure Statement is presently set for January 9, 2024, at 9:30 a.m. The Plan provides for the sale of its primary asset, the real property located at 1651 S. Stemmons Frwy. Lewisville, TX 75067. The Debtor has been informed by one of its members, which member is also a significant creditor of the Debtor, about a possible buyer of the Property. As such, the Debtor has been asked to continue the hearing on the Disclosure Statement for approximately 30 to 45 days. The Debtor requests the Court to enter an order continuing the hearing on the Disclosure Statement to February 20, 2024; and for such other and further relief as this Court might deem just and proper. Counsel for Debtor: Robert T. DeMarco, Esq. Michael S. Mitchell, Esq. DEMARCO*MITCHELL, PLLC 500 N. Central Expressway, 500 Plano, TX 75074 Tel: (972) 578-1400 Fax: (972) 346-6791 E-mail: robert@demarcomitchell.com mike@demarcomitchell.com About 1651 South Stemmons 1651 South Stemmons, LLC, filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D. Tex. Case No. 23-41381) on July 31, 2023, listing up to $10 million in both assets and liabilities. Joyce W. Lindauer, Esq., at Joyce W. Lindauer Attorney, PLLC, is the Debtor's counsel. 1NONLY PHIMAR: Voluntary Chapter 11 Case Summary ------------------------------------------------ Debtor: 1NOnly Phimar, LLC 8051 Lyndon B Johnson Freeway Dallas, TX 75219 Chapter 11 Petition Date: January 1, 2024 Court: United States Bankruptcy Court Northern District of Texas Case No.: 24-30017 Debtor's Counsel: Jason P. Kathman, Esq. SPENCER FANE 5700 Granite Parkway Suite 650 Plano, TX 75024 Tel: 972-324-0300 Email: jkathman@spencerfane.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Philip Levine as manager. A copy of the Debtor's list of 20 largest unsecured creditors is now available for download at PacerMonitor.com. A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/PTQLU6Y/1NOnly_Phimar_LLC__txnbke-24-30017__0001.0.pdf?mcid=tGE4TAMA 2304 LIMITED: Case Summary & One Unsecured Creditor --------------------------------------------------- Debtor: 2304 Limited Partnership 18208 Preston Road Suite D9, Box 224 Dallas, TX 75252 Business Description: 2304 Limited is a Single Asset Real Estate debtor (as defined in 11 U.S.C. Section 101(51B)). Chapter 11 Petition Date: January 1, 2024 Court: United States Bankruptcy Court Eastern District of Texas Case No.: 24-40001 Debtor's Counsel: Eric Liepins, Esq. ERIC A. LIEPINS 12770 Coit Road, Ste. 850 Suite 1100 Dallas, TX 75251 Tel: (972) 991-5591 Email: agenda@ealpc.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Brandi Kirkland as managing member of General Partner. The Debtor listed Dallas County, 1291 Elm Street, Suite 2600 Dallas, TX 75270, as its sole unsecured creditor. A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/VE6MWNY/2304_Limited_Partnership__txebke-24-40001__0001.0.pdf?mcid=tGE4TAMA 383 VALENCIA: Files Amendment to Reorganizing Plan -------------------------------------------------- 383 Valencia, Inc., submitted an Amended Plan of Reorganization dated December 28, 2023. The Plan Proponent's financial projections show that the Debtor will have projected disposable income of $290,000. The final Plan payment is expected to be paid by the end of the fifth year of the effective date, and is based upon revenue projections showing ability to make $5,600 in monthly payments throughout the term of the Plan. This Plan of Reorganization proposes to pay creditors of the Debtor from cash flow from operations and future income. Non-priority unsecured creditors holding allowed claims will receive distributions, which the proponent of this Plan has valued at approximately 100 cents on the dollar. This Plan also provides for the payment of administrative and priority claims. Like in the prior iteration of the Plan, Class 3 consists of Non Priority Unsecured Creditors shall be paid in full by equal monthly payment payable in 60 installments without interest after the effective date of the plan. Class 4 Equity security holders shall receive distribution only upon completion of Plan payments. The Plan will be funded by the continued operations of the Debtor's restaurant and beer & wine bar, Sushi, Shio. A full-text copy of the Amended Plan dated December 28, 2023 is available at https://urlcurt.com/u?l=GjZaBU from PacerMonitor.com at no charge. About 383 Valencia 383 Valencia Inc. has been in the business of operating a restaurant in San Francisco, California. The Debtor filed a Chapter 11 petition (Bankr. N.D. Cal. Case No. 23-30550) on Aug. 15, 2023, with $50,001 to $100,000 in assets and $100,001 to $500,000 in liabilities. Judge Dennis Montali oversees the case. Robert L. Goldstein, Esq., at the Law Offices of Robert L. Goldstein, is the Debtor's bankruptcy counsel. 4TH VECTOR: Case Summary & 20 Largest Unsecured Creditors --------------------------------------------------------- Debtor: 4th Vector Technologies, LLC 3209 Gresham Lake Rd., Ste. 147 Raleigh, NC 27615 Business Description: 4th Vector is an industrial equipment supplier in Raleigh, North Carolina. The Company's current services include: turnkey solutions, retrofits, field support & resource, industrial research & engineering studies, traceability, data collection & analytics, OEM open source development, and preventative maintenance. Chapter 11 Petition Date: January 2, 2024 Court: United States Bankruptcy Court Eastern District of North Carolina Case No.: 24-00021 Judge: Hon. Pamela W. McAfee Debtor's Counsel: William P. Janvier, Esq. STEVENS MARTIN VAUGHN & TADYCH, PLLC 2225 W Millbrook Road Raleigh, NC 27612 Tel: (919) 582-2300 Email: wjanvier@smvt.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Robert Couture as CTO/managing member. A full-text copy of the petition containing, among other items, a list of the Debtor's 20 largest unsecured creditors is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/MAZLMOQ/4th_Vector_Technologies_LLC__ncebke-24-00021__0001.0.pdf?mcid=tGE4TAMA 80 CROSBY TERRACE: Voluntary Chapter 11 Case Summary ---------------------------------------------------- Debtor: 80 Crosby Terrace, Ltd. 340 N. Sam Houston Parkway, Suite 140 Houston TX 77060 Business Description: 80 Crosby is a Single Asset Real Estate debtor (as defined in 11 U.S.C. Section 101(51B)). The Debtor owns approximately 77.23 acres in Harris County, Texas, valued at $4 million (based on broker's opinion). Chapter 11 Petition Date: December 31, 2023 Court: United States Bankruptcy Court Southern District of Texas Case No.: 23-35189 Judge: Hon. Eduardo V. Rodriguez Debtor's Counsel: Leonard Simon, Esq. PENDERGRAFT & SIMON LLP 2777 Allen Parkway Suite 800 Houston TX 77019 Tel: 713-528-8555 Email: lsimon@pendergraftsimon.com Total Assets: $4,003,037 Total Liabilities: $3,567,350 The petition was signed by Joe Fogarty as president, general partner. A copy of the Debtor's list of 20 largest unsecured creditors is now available for download at PacerMonitor.com. A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/7HZEB7A/80_Crosby_Terrace_Ltd__txsbke-23-35189__0001.0.pdf?mcid=tGE4TAMA 9301 CHEROKEE: To Pay All Claims From Sale Proceeds --------------------------------------------------- 9301 Cherokee Lane, LLC, filed a Chapter 11 Plan of Reorganization and a Chapter 11 Disclosure Statement dated Dec. 21, 2023. The Debtor's assets consist of: (1) a single-family residence located at 9301 Cherokee Lane, Beverly Hills, CA 90210 (the "Property"); (2) pending litigation related to the Property ("Lawsuit"); 1 and (3) a de minimus amount of cash in its DIP bank account. The debtor believes that the Property has a fair market value of $15 million. The deadline to file claims in the instant case was December 8, 2023. As of the Claims Bar Date, only two creditors have filed secured proofs of claims: (1) PMF CA REIT, LLC ("PMF") in the amount of$9,679,516 ("Claim No.1") and BMO Bank, N.A. ("BMO") in the amount of $19,042,147 ("Claim No. 2"). None of the Debtor's general unsecured creditors, all of whom were scheduled as holding a contingent, unliquidated, or disputed claim, filed claims. Accordingly, the Chapter II Plan proposes no distribution on account of such scheduled but unfiled claims. Debtor's Plan proposes to pay allowed claims from the proceeds of a sale of the Property. The Plan takes advantage of the special 11 U.S.C. Sec. 1146 to avoid the application of California's 5.5% "Mansion Tax" on residential sales of $15 million or more, resulting in a saving to creditors of $825,000 on a $15 million sale. The effective date of the Plan will be the close of escrow on the sale of the Property or as soon as practicable thereafter. The Effective Date may be adjusted as necessary to comply with 11 U.S.C. Sec. 1146 so as to avoid triggering the Mansion Tax. The Debtor has negotiated the Plan with PMF and BMO, and Debtor expects it to be supported by both creditors. All secured claims will be paid in full on the Effective Date. None of Debtor's general unsecured creditors, all of whom were scheduled as holding a contingent, unliquidated, or disputed claim, filed claims. Accordingly, the Plan proposes no distribution on account of such scheduled claims. Attorney for the Debtor: Marc A. Lieberman, Esq. Alan W. Forsley, Esq. FLP LAW GROUP LLP 1875 Century Park East, Suite 2230 Los Angeles, CA 90067 Telephone: (310) 284-7350 Facsimile: (31 0) 432-5999 E-mail: marc.lieberman@flpllp.com alan.forsley@flpllp.com A copy of the Disclosure Statement dated Dec. 22, 2023, is available at https://tinyurl.ph/fxUDo from PacerMonitor.com. About 9301 Cherokee Lane 9301 Cherokee is a Single Asset Real Estate debtor (as defined in 11 U.S.C. Section 101(51B)). 9301 Cherokee Lane, LLC, in Beverly Hills CA, filed its voluntary petition for Chapter 11 protection (Bankr. C.D. Cal. Case No. 23-16232) on Sept. 25, 2023, listing as much as $10 million to $50 million in both assets and liabilities. Cody Holmes as authorized signatory, signed the petition. CORNELIUS & KASENDORF, APC serve as the Debtor's legal counsel. AG BROTHERS: Seeks to Hire Reliant Valuations as Appraiser ---------------------------------------------------------- AG Brothers' Food Restaurants, LLC seeks approval from the U.S. Bankruptcy Court for the District of Arizona to employ Reliant Valuations, LLC as appraiser. The firm will determine the fair market value of the Debtor's real estate located at 7829 W. 20 Thomas Road, Phoenix, Arizona 85033. A retainer in the sum of $3,500 has been provided. As disclosed in the court filings, Reliant Valuations is a "disinterested person" within the meaning of 11 U.S.C. 101(14). The firm can be reached through: Brian C. Donegan Reliant Valuations, LLC 104 Little Wood Lane Delray Beach, FL 33444 Tel: (602) 625-4289 About AG Brothers' Food Restaurants AG Brothers' Food Restaurants, LLC -- http://www.mariscoselnuevoaltata.com/-- owns and operates a restaurant specializing in Mexican cuisine. AG Brothers' Food Restaurants filed a petition for relief under Subchapter V of Chapter 11 of the Bankruptcy Code (Bankr. D. Ariz. Case No. 22-06667) on Oct. 4, 2022, with $1 million and $10 million in both assets and liabilities. Dawn Maguire has been appointed as Subchapter V trustee. Judge Madeleine C. Wanslee oversees the case. The Debtor tapped Allan D. Newdelman, P.C. as bankruptcy counsel and Duran Accounting Solutions, LLC, doing business as Duran Business Group, as accountant. AIR METHODS: Davis Polk Advised Lenders in Restructuring -------------------------------------------------------- Davis Polk advised an ad hoc group of lenders and noteholders in connection with the chapter 11 restructuring of Air Methods Corporation. The ad hoc group negotiated the terms of the restructuring, which reduced the company's leverage by approximately $1.7 billion. Air Methods filed its prepackaged chapter 11 cases in the United States Bankruptcy Court for the Southern District of Texas on October 24, 2023. In connection with the restructuring, certain members of the ad hoc group backstopped an $80 million new-money DIP financing facility. The DIP package included a roll-up of prepetition term loans of $65 million that converted into exit term loans upon emergence. New capital for the reorganized company included (i) a $185 million debt rights offering for exit term loans with a stapled equity feature and (ii) a private placement to finance a $27 million cash-out option for lenders and noteholders to receive cash in lieu of equity, all of which was backstopped (or, in the case of the private placement, fully committed) by certain members of the ad hoc lender group. The restructuring and plan of reorganization received unanimous support and achieved a fully consensual confirmation within 43 days of filing. Of those who voted on the plan, 100% of Air Method's prepetition lenders and unsecured noteholders voted in favor of the plan. Air Methods received confirmation of its plan following an uncontested hearing on December 6, 2023, and it emerged from chapter 11 on December 28, 2023. Air Methods is the nation's leading air medical service, delivering lifesaving care to more than 100,000 people every year. With more than 40 years of air medical experience, Air Methods is the preferred partner for hospitals and one of the nation's largest community-based providers of air medical services. The Davis Polk restructuring team included partners Damian S. Schaible and Adam L. Shpeen, counsel Stephen D. Piraino and Robert (Bodie) Stewart and associates David Kratzer and Hailey W. Klabo. The finance team included counsel Jon Finelli and associates Timothy H. Oyen and Carly (Yoona) Cha. Partner Michael Davis and counsel Jacob S. Kleinman provided mergers and acquisitions advice. Associates Moses Farzan Nekou and Kerim K. Aksoy provided capital markets advice. Partner Corey M. Goodman provided tax advice. Members of the Davis Polk team are based in the New York and Washington DC offices. Davis Polk refers to Davis Polk & Wardwell LLP, a New York limited liability partnership, and its associated entities. About Air Methods Corporation Founded in 1980, Air Methods is a provider of air medical emergency services in the United States, providing more than 100,000 transports per year while offering clinical quality, safety, and life-saving care to patients across the country. Headquartered in Greenwood Village, Colorado, the Company operates a fleet of approximately 390 helicopters and fixed-wing aircraft serving 47 states from over 275 bases located in 40 different states. Air Methods Corporation and its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 23-90886) on Oct. 24, 2023. In the petition signed by Christopher J. Brady, as authorized signatory, Air Methods disclosed up to $10 billion in both assets and liabilities. Judge Marvin Isgur oversees the case. Weil, Gotshal & Manges LLP serves as the Debtors' legal counsel. Lazard Freres $ Co. LLC is the Debtors' investment banker, and Alvarez & Marsal is the financial advisor. Epiq Corporate Restructuring, LLC, is the claims, noticing & solicitation agent and administrative advisor. ALPINE SUMMIT: To Seek Liquidating Plan Approval on Feb. 5 ---------------------------------------------------------- Alpine Summit Energy Partners, Inc., et al., submitted a Liquidating Plan and a Disclosure Statement. The Court reserved the Plan confirmation hearing date on Feb. 5, 2024, at 1:30 p.m. The voting and objection deadline set on Jan. 31, 2024, as stated on the record. The Debtors are commencing the solicitation of the Plan after the sale of substantially all of the Debtors' assets and the winding down of their operations. The purpose of the Plan is to place the Debtors' assets into two liquidating trusts: the GUC Trust and the Lienholder Trust. The Liquidating Trustees will be responsible for taking the necessary and appropriate actions to monetize the remaining assets of the Debtors' Estates, make Distributions to Holders of Allowed Claims, and to proceed with an orderly, expeditious, and efficient wind-down of the Debtors' Estates in accordance with the terms of the Plan. To implement the postpetition marketing and sale process, the Debtors filed an emergency motion seeking entry of an order authorizing bidding procedures, approving, among other things, proposed bidding procedures for sale of the Debtors' assets. The Bankruptcy Court entered this order on July 25, 2023. On Aug. 16, 2023, the Debtors filed their notice selecting San Isidro Energy Company II, LLC, Ageron Holdings, LLC, and Needmore Minerals, LLC as the Stalking Horse Bidder in accordance with the Stalking Horse Agreement. On Aug. 25, 2023, the Debtors filed the notice of cancellation of auction and the selection of the Stalking Horse Bidder as the winning bidder. Prior to the hearing authorizing the Debtors' sale of the South Texas Assets, the Debtors received objections and reservations of rights to entry of the proposed South Texas Assets Sale Order from numerous statutory lien claimants and contract counterparties as well as ERC Acquisitions I LLC, ERC Acquisitions II, LLC, and Paleo Oil Company, LLC (collectively, "Paleo"). Prior to the hearing the Debtors resolved all objections with the exception of Paleo's objection. The Bankruptcy Court held a hearing on August 31, 2023, approved the Debtors' proposed sale and overruled the remaining objections, and entered an order authorizing the sale of the Debtors' South Texas Assets to San Isidro Energy Company II, LLC, Needmore Minerals, LLC and Ageron Holdings, LLC and the assumption and assignment of contracts therewith, free and clear of liens, subject to certain exceptions and as set forth in the applicable purchase agreements. The sale of the South Texas Assets to San Isidro Energy Company II, LLC, Needmore Minerals, LLC and Ageron Holdings, LLC closed on September 20, 2023. The Bidding Procedures Order established a deadline for submitting qualified bids for the Giddings Assets. On Oct. 24, 2023, the Debtors filed the Notice of Successful Bidder for Giddings Assets naming Giddings Production, LLC, as the Successful Bidder. The Bankruptcy Court held a hearing on Oct. 31, 2023, approved the Debtors' proposed sale, and entered an order authorizing the sale of the Debtors' Giddings Assets to Giddings Production, LLC and the assumption and assignment of contracts therewith, free and clear of liens, subject to certain exceptions and as set forth in the applicable purchase agreements. The sale of the Giddings Assets to Giddings Production, LLC, closed on November 17, 2023. Under the Plan, holders of Class 6 General Unsecured Claims will receive its Pro Rata share of the GUC Trust Assets pursuant to the GUC Trust Waterfall. Class 6 is impaired. On the Effective Date, the Lienholder Trustee shall sign the Lienholder Trust Agreement and cause the Lienholder Trust to accept, on behalf of the Lienholder Trust Beneficiaries, the Lienholder Trust Assets. As of the Effective Date, the Lienholder Trust Assets shall be vested in the Lienholder Trust free and clear of all Liens, Claims, Interests and encumbrances to the fullest extent possible under applicable law, except as otherwise specifically provided in the Plan or the Confirmation Order; provided that, no non-economically beneficial assets shall be contributed to the Lienholder Trust and the Plan shall constitute the filing of a motion to abandon such assets pursuant to Section 554 of the Bankruptcy Code, which assets shall be identified in the Plan Supplement. On the Effective Date, the Lienholder Trust will be deemed created and effective without any further action by the Bankruptcy Court or any party. The Lienholder Trust shall be established for the primary purpose of reasonably maximizing the proceeds from liquidation of its assets (as applicable) for the benefit of the Lienholder Trust Beneficiaries, and for making Distributions in accordance with the Plan and the Lienholder Trust Agreement. The purpose of the Lienholder Trust shall be to liquidate and distribute Lienholder Trust Assets in accordance with the Lienholder Trust Waterfall after the Bankruptcy Court determines the priority and amount of the Statutory Lien Claims and the Prepetition Credit Agreement Claims pursuant to the Lien Determination Procedures Order. The Lienholder Trust shall have sole responsibility for (i) objecting to, resolving, or settling all Claims other than General Unsecured Claims and the Prepetition Credit Agreement Claims; and (ii) prosecuting and defending the Causes of Action in the following adversary proceedings; (a) Adv. Proc. No. 23-03238, (b) Adv. Proc. No. 23-03213, and (c) Adv. Proc. No. 23-03244. Any settlement of the foregoing litigation shall require Bankruptcy Court approval. On the Effective Date, the Debtors, pursuant to the Plan, shall transfer all of the Lienholder Trust Assets to the Lienholder Trust for distribution in accordance with the Plan and the Lienholder Trust Agreement. The appointment of the GUC Trustee shall be effective as of the Effective Date. Any successor GUC Trustee shall be appointed as set forth in the GUC Trust Agreement. The purpose of the GUC Trust shall be to (i) prosecute and liquidate any Retained Causes of Action; (ii) liquidate and distribute any remaining Cash after the payment of all Allowed Claims (other than General Unsecured Claims) by the Lienholder Trust; and (iii) object, resolve, or settle all General Unsecured Claims. The appointment of the GUC Trustee shall be effective as of the Effective Date. Any successor GUC Trustee shall be appointed as set forth in the GUC Trust Agreement. The purpose of the GUC Trust shall be to (i) prosecute and liquidate any Retained Causes of Action; (ii) liquidate and distribute any remaining Cash after the payment of all Allowed Claims (other than General Unsecured Claims) by the Lienholder Trust; and (iii) object, resolve, or settle all General Unsecured Claims. Priority of distributions by the GUC Trustee from the GUC Trust shall be pursuant to the following waterfall: 1. To the GUC Trustee and his/her professionals for the reasonable and necessary, documented and out of pocket fees and expenses incurred in connection with the administration of the GUC Trust; and 2. To holders of Allowed General Unsecured Claims. Counsel for the Debtors: Eric M. English, Esq. M. Shane Johnson, Esq. Megan Young-John, Esq. James A. Keefe, Esq. Jordan Stevens, Esq. PORTER HEDGES LLP 1000 Main St., 36th Fl. Houston, TX 77002 Tel: (713) 226-6000 Fax: (713) 226-6248 E-mail: eenglish@porterhedges.com sjohnson@porterhedges.com myoung-john@porterhedges.com jkeefe@porterhedges.com jstevens@porterhedges.com A copy of the Disclosure Statement dated Dec. 22, 2023, is available at https://tinyurl.ph/yJPUY from Kroll, the claims agent. About Alpine Summit Energy Partners Alpine Summit Energy Partners Inc. and its affiliates develop, own, and operate oil and gas properties in several formations in Texas. Alpine Summit Energy Partners and its affiliates, including HB2 Origination, LLC, sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 23-90739) on July 5, 2023. In the petition filed by Craig Perry, CEO and Chairman of Board of Directors, Alpine Summit Energy Partners estimated assets up to $50,000 and liabilities between $500,000 and $1 million. Affiliate Ageron Energy II, LLC estimated $100 million to $500 million in assets and $1 million to $10 million in liabilities. Affiliate HB2 Origination, LLC estimated $100 million to $500 million in assets and $50 million to $100 million in liabilities. Judge Marvin Isgur oversees the cases. The Debtors tapped Porter Hedges, LLP as counsel; Houlihan Lokey Capital, Inc. as investment banker; Huron Consulting Services, LLC as financial advisor; and White & Case LLP as special litigation counsel. Kroll Restructuring Administration, LLC is the claims agent. The U.S. Trustee for Region 7 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee tapped Reed Smith, LLP as bankruptcy counsel and Huron Consulting Services, LLC as restructuring advisor. Ryan Bouley of Huron serves as chief restructuring officer. AME ZION: Trustee Seeks to Tap Golden Goodrich as General Counsel ----------------------------------------------------------------- Jeffrey Golden, the trustee appointed in the Chapter 11 case of AME Zion Western Episcopal District, filed its second amended application seeking approval from the U.S. Bankruptcy Court for the Eastern District of California to employ Golden Goodrich LLP as his general counsel. The firm will render these services: (1) analyze the Debtor's case, including numerous unique factual, legal and accounting issues, and advise the Trustee on these matters and, if necessary, take appropriate legal action; (2) analyze the claims asserted in the pending adversary proceedings and any additional proceedings that may be later initiated, advise the Trustee on these proceedings, and take appropriate action, if necessary; (3) analyze and advise the Trustee regarding the Estate's rights in real property and personal property and, if appropriate, assist the Trustee with the sale of real and personal property; (4) assist the Trustee in obtaining a turnover of all funds of the Debtor, all books and records of the Debtor, and any rent received by or due to the Debtor; (5) assist the Trustee with the employment of professionals, as appropriate; (6) assist the Trustee in negotiations with creditors and other parties-in-interest, including, if necessary, claim objections; (7) advise the Trustee with his efforts to proposed a plan of reorganization, including a disclosure statement, or, if necessary, other alternatives to reorganization; (8) provide general advice regarding the Bankruptcy Code and local bankruptcy rules; and (9) perform other general tasks as may be required by the Trustee. The firm will receive a contingent fee equal to 33 1/3 percent of the gross recovery obtained, whether by way of settlement, judgment or compromise by the Estate, before trial; or 40 percent if the matter proceeds to arbitration, mediation, trial, etc., subject to 11 U.S.C. Sec. 328. In addition to the Contingent Fee, the firm shall be reimbursed its actual, out-of-pocket expenses from the total recovery, after the contingency fee is calculated. Jeffrey Golden, Esq., a partner at Golden Goodrich, disclosed in a court filing that his firm is a "disinterested person" pursuant to Section 101(14) of the Bankruptcy Code. The firm can be reached at: Jeffrey I. Golden, Esq. Golden Goodrich, LLP 650 Town Center Drive, Suite 600 Costa Mesa, CA 92626 Telephone No: (714) 966-1000 Facsimile No: (714) 966-1002 Email: jgolden@go2.law About AME Zion Western Episcopal District AME Zion Western Episcopal District, a non-profit California religious organization, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Calif. Case No. 20-23726) on July 30, 2020, with up to $100 million in assets and up to $50 million in liabilities. Lewis Clinton, chief operating officer, signed the petition. Judge Fredrick E. Clement oversees the case. The Law Offices of Gabriel Liberman, APC is the Debtor's legal counsel. On March 2, 2021, Jeffrey I. Golden was appointed as Chapter 11 trustee for the Debtor's bankruptcy estate. The trustee tapped David M. Goodrich, Esq., as bankruptcy counsel; ArentFox Schiff LLP as special litigation counsel; and Hahn Fife & Company, LLP as accountant. ARC MANAGEMENT: Seeks to Hire Rountree Leitman Klein as Attorney ---------------------------------------------------------------- Arc Management Group, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Rountree, Leitman, Klein & Geer, LLC as its attorneys. The firm's services include: a. giving the Debtor legal advice with respect to its powers and duties as Debtor-in-Possession in the management of its property; b. preparing on behalf of the Debtor as Debtor-in-Possession necessary schedules, applications, motions, answers, orders, reports and other legal matters; c. assisting in examination of the claims of creditors; d. assisting with formulation and preparation of the disclosure statement and plan of reorganization and with the confirmation and consummation thereof; and e. performing all other legal services for the Debtor as Debtor-in-Possession that may be necessary. The firm will be paid at these hourly rates: William A. Rountree, Attorney $595 Will B. Geer, Attorney $595 Michael Bargar, Attorney $535 Hal Leitman, Attorney $425 William Matthews, Attorney $425 David S. Klein, Attorney $495 Alexandra Dishun, Attorney $425 Elizabeth Childers, Attorney $395 Ceci Christy, Attorney $425 Caitlyn Powers, Attorney $325 Shawn Eisenberg, Attorney $300 Sharon M. Wenger, Paralegal $225 Elizabeth Miller, Paralegal $250 Megan Winokur, Paralegal $175 Catherine Smith, Paralegal $150 Law Clerk $175 The firm received a pre-petition retainer of $50,000 from William D. Wilson, Jr., the 50 percent owner and CEO of the Debtor. William Rountree, Esq., a partner at Rountree, disclosed in a court filing that his firm is a "disinterested person" pursuant to Section 101(14) of the Bankruptcy Code. The firm can be reached through: William A. Rountree, Esq. ROUNTREE LEITMAN KLEIN & GEER, LLC Century Plaza I 2987 Clairmont Road, Suite 350 Atlanta, GA 30329 Tel: (404) 584-1238 Email: wgeer@rlkglaw.com About ARC Management Group, LLC ARC Management Group, LLC is a provider of billing, collection and debt recovery services. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 23-61742) on November 28, 2023. In the petition signed by William D. Wilson, chief executive officer, the Debtor disclosed up to $1 million in assets and up to $10 million in liabilities. William Rountree, Esq., at Rountree, Leitman, Klein & Geer, LLC, represents the Debtor as legal counsel. ASMARA MLK: March 1 Hearing on Plan & Disclosures Set ----------------------------------------------------- Judge Charles Novack has entered an order that the Disclosure Statement aspect of the Amended Document of Asmara MLK, LLC is tentatively approved. A final hearing on the adequacy of the Disclosure Statement aspect of the Amended Document and on Chapter 11 Plan Confirmation of the Amended Document is set for March 1, 2024, at 11:00 a.m. via Tele/Videoconference and in courtroom 215 of the United States Bankruptcy Court, 1300 Clay Street, Oakland California. Any objections to the adequacy of the Disclosure Statement aspect of the Amended Document must be filed and served by Feb. 23, 2024. Any objections to plan confirmation must also be filed and served by Feb. 23, 2024. Creditors who intend to vote on plan confirmation must send their ballots to Debtor's counsel so that Debtor's counsel receives them by Feb. 23, 2024. About Asmara MLK Asmara MLK, LLC in Oakland, CA, filed its voluntary petition for Chapter 11 protection (Bankr. N.D. Cal. Case No. 23-40430) on April 17, 2023, listing $1 million to $10 million in assets and $100,000 to $500,000 in liabilities. Asmerom Berhe Ghebrmicael, Sr., as managing member., signed the petition. Judge William J. Lafferty oversees the case. LAW OFFICE OF MARC VOISENAT serves as the Debtor's legal counsel. ASPIRA WOMEN'S: Dr. Veronica G.H. Jordan Steps Down From Board -------------------------------------------------------------- Aspira Women's Health Inc. disclosed in a Form 8-K filed with the Securities and Exchange Commission that on Dec. 21, 2023, Veronica G.H. Jordan, Ph.D. resigned from the board of directors of the Company, including as chair of the Board, chair of the compensation committee of the Board and as a member of the audit committee of the Board, effective immediately. The Company said Dr. Jordan's resignation from the Board was not a result of any disagreement with the Company's operations, policies or practices. Following Dr. Jordan's resignation, the Board appointed Jannie Herchuk as the Chair of the Board and Lynn O'Connor Vos to the Audit Committee, in each case effective Dec. 27, 2023. The Audit Committee is now composed of Jannie Herchuk (chair), Stephanie Cavanaugh, and Ms. O'Connor Vos. About Aspira Women's Health Formerly known as Vermillion, Inc., Aspira Women's Health Inc. -- http://www.aspirawh.com-- is transforming women's gynecological health with the discovery, development, and commercialization of innovative testing options for women of all races and ethnicities, starting with ovarian cancer. Its ovarian cancer risk assessment portfolio is marketed to healthcare providers as OvaSuite. OvaWatch is a non-invasive, blood-based test intended for use in the initial clinical assessment of ovarian cancer risk in women with benign or indeterminate adnexal masses for which surgical intervention may be either premature or unnecessary. In its Quarterly Report for the three months ended Sept. 30, 2023, Aspira Women's Health reported that it has incurred significant net losses and negative cash flows from operations since inception, and as a result has an accumulated deficit of approximately $515,214,000 as of September 30, 2023. It also expects to incur a net loss and negative cash flows from operations for the remainder of 2023. Working capital levels may not be sufficient to fund operations as currently planned through the next twelve months, absent a significant increase in revenue over historic revenue or additional financing. Given the above conditions, there is substantial doubt about Aspira Women's' ability to continue as a going concern. ASPIRA WOMEN'S: Eric Schultz Acquires 5.26% Equity Stake -------------------------------------------------------- Eric A. Schultz disclosed in a Schedule 13G filed with the Securities and Exchange Commission that as of Dec. 14, 2023, he beneficially owned 543,998 shares of common stock of Aspira Women's Health Inc., representing 5.263% of the Shares outstanding. The aggregate ownership percentage of shares of the issuer's common stock owned by the Reporting Person is based upon 10,336,834 shares of the issuer's common stock outstanding as reported in the issuer's Form 10-Q quarterly report for the fiscal quarter ended Sept. 30, 2023. Of the 543,998 shares beneficially owned by Eric A. Schultz, (a) 460,000 shares are owned of record by Mr. Schultz; (b) 600 shares are owned of record by Charles Schwab & Co Inc., Custodian, Roth Contributory IRA, Eric A. Schultz, Trustee; (c) 52,666 shares are owned of record by Charles A. Schwab & Co Inc., Custodian, IRA Rollover Account, Eric A. Schultz, Trustee; (d) 16,666 shares are owned of record by Reliant Fund Services 401K, fbo Eric A. Schultz, Trustee; (e) 1,066 shares are owned of record by Reliant Fund Services LLC 401K, fbo Eric A. Schultz, Trustee; and (f) 13,000 shares are owned of record by Reliant Fund Services LLC Roth 401K, fbo Eric A. Schultz. A full-text copy of the regulatory filing is available for free at: https://www.sec.gov/Archives/edgar/data/926617/000168316823009083/schultz_13g.htm About Aspira Women's Health Formerly known as Vermillion, Inc., Aspira Women's Health Inc. -- http://www.aspirawh.com-- is transforming women's gynecological health with the discovery, development, and commercialization of innovative testing options for women of all races and ethnicities, starting with ovarian cancer. Its ovarian cancer risk assessment portfolio is marketed to healthcare providers as OvaSuite. OvaWatch is a non-invasive, blood-based test intended for use in the initial clinical assessment of ovarian cancer risk in women with benign or indeterminate adnexal masses for which surgical intervention may be either premature or unnecessary. In its Quarterly Report for the three months ended Sept. 30, 2023, Aspira Women's Health reported that it has incurred significant net losses and negative cash flows from operations since inception, and as a result has an accumulated deficit of approximately $515,214,000 as of September 30, 2023. It also expects to incur a net loss and negative cash flows from operations for the remainder of 2023. Working capital levels may not be sufficient to fund operations as currently planned through the next twelve months, absent a significant increase in revenue over historic revenue or additional financing. Given the above conditions, there is substantial doubt about Aspira Women's' ability to continue as a going concern. AULT ALLIANCE: Unit Sues Singing Machine, Directors Over Stock Sale ------------------------------------------------------------------- In an amended Schedule 13D filed with the Securities and Exchange Commission, Ault Alliance, Inc. disclosed that Ault Lending, LLC, its wholly owned subsidiary, filed a Verified Complaint in the Court of Chancery of the State of Delaware, bringing derivative claims against (i) The Singing Machine Company, Inc., (ii) board members Gary Atkinson, Jay B. Foreman, Harvey Judkowitz, Joseph Kling, Bernardo Melo, and Mathieu Peloquin, (iii) Stingray Group, Inc., which is an affiliate of Mr. Peloquin, and (iv) Regalia Ventures, LLC, which is owned and controlled by Mr. Foreman. The Complaint was filed in connection with the Issuer's sale to Stingray and Regalia Ventures of a total of 2,197,802 Shares, or 34% of the Shares outstanding after completion of the sale, on Nov. 21, 2023. As discussed in detail in the Complaint, Ault Lending believes that the director defendants violated their fiduciary duties of care and loyalty by, among other things, approving the transaction with Stingray and Regalia Ventures at an inadequate price following a conflicted and deeply flawed process. Ault Lending is seeking the following relief from the Court: * declarations that the defendant directors breached their fiduciary duties, and that Stingray and Regalia Ventures aided and abetted those breaches; * rescinding the Issuer's sale of Shares to Stingray and Regalia Ventures; and * awarding damages and attorneys' fees to Ault Lending. As of Dec. 21, 2023, the following entities hold beneficial ownership of shares of common stock of Singing Machine: Shares Percent Beneficially of Reporting Person Owned Class Ault Alliance, Inc. 1,808,000 28.2% Ault Lending, LLC 1,808,000 28.2% Milton C. Ault, III 1,808,000 28.2% Kenneth S. Cragun 667 Less Than 1% Henry C. W. Nisser 0 0% James M. Turner 667 Less Than 1% A full-text copy of the SEC filing is available for free at: https://www.sec.gov/Archives/edgar/data/896493/000121465923016855/j1226231sc13da7.htm About Ault Alliance Inc. Ault Alliance, Inc. (formerly, BitNile Holdings, Inc.) is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly- and majority-owned subsidiaries and strategic investments, the Company owns and operates a data center at which the Company mines Bitcoin, and provides mission-critical products that support a diverse range of industries, including crane services, oil exploration, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance reported a net loss of $189.83 million for the year ended Dec. 31, 2022, compared to a net loss of $23.04 million for the year ended Dec. 31, 2021. As of March 31, 2023, the Company had $526.91 million in total assets, $336.56 million in total liabilities, and $190.34 million in total stockholders' equity. New York, New York-based Marcum LLP, the Company's auditor since 2016, issued a "going concern" qualification in its report dated April 17, 2023, citing that the Company has a working capital deficiency, has incurred net 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. AULT ALLIANCE: Updates on Series D Preferred Stock Exchange Offer ----------------------------------------------------------------- Ault Alliance, Inc. has provided further information on its planned exchange offer to accept for cancellation a minimum of 20 million shares of the Company's common stock and a maximum of 60 million such shares in exchange for the issuance of up to $15,000,000 aggregate liquidation preference of its 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock. The $0.25 effective price per common share equivalent of the Series D Preferred Stock represents a 193% increase over the last reported sales price of the Common Stock of $0.0854 on December 20, 2023, on the NYSE American. Further, the 13.00% Series D Preferred Stock annual dividend provides an additional annual recurring value of $0.0325 per share of Common Stock exchanged, or 38% of the Closing Price. Based on the Closing Price, the stated value of the Series D Preferred Stock and the first year's required dividend payments on the Series D Preferred Stock, stockholders who tender their shares of Common Stock in the Offer for the Series D Preferred Stock could realize a premium of approximately 231%, of which 38% is from cash dividends, from the Closing Price. Set forth is a summary of certain anticipated terms of the Offer: * The Company anticipates launching the Offer on January 8, 2024, with an expiration date of 5:30 PM New York City Time on February 6, 2024; * The Company does not intend to extend the Offer beyond the February 6, 2024 expiration date; * In the Offer, the Company intends to offer the exchange of Common Stock in 100 share increments and retire the exchanged shares of Common Stock; * The Company intends to issue one share of Series D Preferred Stock for each 100 shares of Common Stock; based on this exchange ratio for each increment of 100 shares, a stockholder will receive one share of Series D Preferred Stock having a liquidation preference of $25.00 per share of Series D Preferred Stock (the equivalent of $0.25 per share of Common Stock for each share of Common Stock exchanged in the Offer); * Each share of Series D Preferred Stock will: -- be entitled to cumulative dividends from the date of initial issue and will be payable on the last day of each month when, as and if declared by the Company's Board of Directors. Dividends will be payable out of amounts legally available therefor at a rate equal to 13.00% per annum per $25.00 of stated liquidation preference per share, or $0.2708333 per share of Series D Preferred Stock per month. The Company has timely made each dividend payment since the first issuance of Series D Preferred Stock in June 2022; -- be publicly traded and listed on the NYSE American under the ticker "AULT.PD"; -- in the event of our voluntary or involuntary liquidation, dissolution or winding up, be entitled to be paid out of the assets we have legally available for distribution to our stockholders, subject to the preferential rights of the holders of any class or series of our capital stock we may issue ranking senior to the Series D Preferred Stock with respect to the distribution of assets upon liquidation, dissolution or winding up, a liquidation preference of $25.00 per share, plus an amount equal to any accumulated and unpaid dividends to, but not including, the date of payment, before any distribution of assets is made to holders of our common stock or any other class or series of our capital stock we may issue that ranks junior to the Series D Preferred Stock as to liquidation rights; and * The Offer will be subject to certain conditions including, but not limited to, there having been validly tendered and not withdrawn at least 20,000,000 shares of Common Stock and the Company's continued listing on the NYSE American through the term of the Offer. The Company determined to commence the offer in January 2024 rather than December 2023 to avoid overlapping with the holiday season. The Offer is subject to regulatory approval and other customary closing conditions. Details regarding the Offer and instructions for stockholders interested in participating will be provided in the Offer to Exchange and related documents, which will be filed with the Securities and Exchange Commission and distributed to Ault Alliance stockholders. The Offer will not be made to any person in any jurisdiction in which either the Offer, or solicitation or sale thereof, is unlawful. Any Offer will be made only by means of the Offer to Exchange. It is anticipated that the Offer will be made pursuant to the exemption from registration requirements of the Securities Act of 1933, as amended, contained in Section 3(a)(9) thereof. Under that exemption, if Common Stock exchanged is freely tradeable, the Series D Preferred Stock received in exchange therefor will be freely tradable. If the Common Stock is restricted, the Series D Preferred Stock will be restricted to the same degree. About Ault Alliance Inc. Ault Alliance, Inc. (formerly, BitNile Holdings, Inc.) is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly- and majority-owned subsidiaries and strategic investments, the Company owns and operates a data center at which the Company mines Bitcoin, and provides mission-critical products that support a diverse range of industries, including crane services, oil exploration, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance reported a net loss of $189.83 million for the year ended Dec. 31, 2022, compared to a net loss of $23.04 million for the year ended Dec. 31, 2021. As of March 31, 2023, the Company had $526.91 million in total assets, $336.56 million in total liabilities, and $190.34 million in total stockholders' equity. New York, New York-based Marcum LLP, the Company's auditor since 2016, issued a "going concern" qualification in its report dated April 17, 2023, citing that the Company has a working capital deficiency, has incurred net 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. BACCI OF BENSENVILLE: Neema Varghese Named Subchapter V Trustee --------------------------------------------------------------- The U.S. Trustee for Region 11 appointed Neema Varghese of NV Consulting Services as Subchapter V trustee for Bacci of Bensenville, Inc. Ms. Varghese will be paid an hourly fee of $400 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Varghese declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Neema T. Varghese NV Consulting Services 701 Potomac, Ste. 100 Naperville, IL 60565 Tel: (630) 697-4402 Email: nvarghese@nvconsultingservices.com About Bacci of Bensenville Bacci of Bensenville, Inc., sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 23-17054) on December 20, 2023, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge David D. Cleary oversees the case. Penelope N. Bach, Esq., at the Bach Law Offices represents the Debtor as bankruptcy counsel. BLACKBERRY LTD: Incurs $21 Million Net Loss for Third Quarter ------------------------------------------------------------- BlackBerry Limited filed with the Securities and Exchange Commission its Quarterly Report on Form 10-Q disclosing a net loss of $21 million on $175 million of revenues for the three months ended Nov. 30, 2023, compared to a net loss of $4 million on $169 million of revenues for the same period in 2022. For the nine months ended Nov. 30, 2023, the Company incurred a net loss of $74 million on $680 million of revenues compared to a net loss of $239 million on $505 million of revenues for the same period in 2022. At Nov. 30, 2023, BlackBerry had $1.4 billion in total assets and $575 million in total liabilities. A full-text copy of the Form 10-Q is available at http://tinyurl.com/y3hkx9pd About BlackBerry Headquartered in Waterloo, Ontario, BlackBerry Limited (NYSE: BB; TSX: BB) provides intelligent security software and services to enterprises and governments around the world. As of Aug. 31, 2023, the Company had $1.613 billion in total assets against $784 million in total liabilities. In September 2023, Egan-Jones Ratings Company maintained its 'CCC' foreign currency and local currency senior unsecured ratings on debt issued by BlackBerry Limited. BRADLYNN CORP: David Madoff Named Subchapter V Trustee ------------------------------------------------------ The U.S. Trustee for Region 1 appointed David Madoff, Esq., a partner at Madoff & Khoury, LLP, as Subchapter V trustee for Bradlynn Corp. Inc. Mr. Madoff will be compensated at $415 per hour for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. In court filings, Mr. Madoff declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: David B. Madoff Madoff & Khoury, LLP 124 Washington Street, Suite 202 Foxborough, MA 02035 Phone: (508) 543-0040 Email: madoff@mandkllp.com About Bradlynn Corp. Bradlynn Corp. Inc. is a Massachusetts corporation that owns and operates a plumbing business located in Lakeville, Mass. Bradlynn filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Mass. Case No. 23-12142) on December 21, 2023, with up to $500,000 in both assets and liabilities. Dean Fawcett, III, president, signed the petition. Judge Janet E. Bostwick oversees the case. Peter M. Daigle, Esq., at Daigle Law Office, represents the Debtor as bankruptcy counsel. BRENDAN GOWING: Voluntary Chapter 11 Case Summary ------------------------------------------------- Debtor: Brendan Gowing, Inc. 3600 Michaux Street Houston TX 77009-6028 Chapter 11 Petition Date: January 1, 2024 Court: United States Bankruptcy Court Southern District of Texas Case No.: 24-30002 Judge: Hon. Eduardo V. Rodriguez Debtor's Counsel: Margaret M. McClure, Esq. LAW OFFICE OF MARGARET M. MCCLURE 25420 Kuykendahl Road, Suite B300-1043 The Woodlands TX 77375 Tel: 713-659-1333 Email: margaret@mmmcclurelaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Brendand Gowing as president. A copy of the Debtor's list of 20 largest unsecured creditors is now available for download at PacerMonitor.com. A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/XDEOW2Y/Brendan_Gowing_Inc__txsbke-24-30002__0001.0.pdf?mcid=tGE4TAMA BROOKWOOD VILLAGE: Creditors to Be Paid From Sale Proceeds ---------------------------------------------------------- Brookwood Village LLC filed a First Amended and Immaterially Modified Plan dated Dec. 22, 2023. The Debtor proposes to liquidate its interests in property. The proceeds from the sale of the Debtor's shopping center in Baton Rouge, LA will be used to pay holders of allowed claims. Under the Plan, Class 5 General Unsecured Claims are impaired. After payment of Class 1, 2, 3, and 4 Secured Claims as well as Allowed Administrative and Priority Tax Claims, each holder of an Allowed General Unsecured Claim will receive on the Distribution Date a pro rata share of the remaining proceeds from the sale of Brookwood Village and any rent due to Brookwood Village shopping center prior to the closing date which is collected from tenants up to the amount of its Allowed Claim. Funds needed to make cash payments on or before the Effective Date under this Plan shall come from cash on hand and through the net proceeds of the sale of Brookwood Village. All payments on the Effective Date shall be made by the Liquidating Debtor from Cash on hand or the net proceeds from the sale of Brookwood Village. Attorneys for Brookwood Village LLC: Ryan J. Richmond, Esq. Ashley M. Caruso, Esq. STERNBERG, NACCARI & WHITE, LLC 450 Laurel Street, Suite 1450 Baton Rouge, LA 70801 Tel: (225) 412-3667 Fax: (225) 286-3046 E-mail: ryan@snw.law ashley@snw.law A copy of the First Amended and Immaterially Modified Plan dated Dec. 22, 2023, is available at https://tinyurl.ph/bUiFs from PacerMonitor.com. About Brookwood Village Brookwood Village LLC in New Orleans, LA, filed its voluntary petition for Chapter 11 protection (Bankr. M.D. La. Case No. 23-10312) on May 16, 2023, listing $1,433,667 in assets and $4,515,344 in liabilities. Tyrone C. Legette as manager, signed the petition. Sternberg Naccari & White, LLC, serves as the Debtor's legal counsel. CAN B CORP: Sues Arena Over Asset Sale -------------------------------------- Can B Corp. disclosed in a Form 8-K filed with the Securities and Exchange Commission that it filed an action in the Supreme Court, County of New York, seeking to preliminarily and permanently enjoin the proposed sale by Arena Special Opportunities Partners I, LP, Arena Special Opportunities Fund, LP and Arena Investors, LP under Article 9 of the Uniform Commercial Code of substantially all of the assets of the Company and its subsidiaries due to, among other things, its contention that the proposed auction would not be commercially reasonable and the security interests in the Company's assets claimed to be held by Arena are invalid. On Dec. 21, 2023, Arena agreed to postpone the proposed auction and, in a stipulation filed with the Court, the Company agreed that it will advise the Court by Jan. 12, 2024 as to whether it intends to proceed with its motion for a preliminary injunction. About Can B Corp Headquartered in Hicksville New York, Can B Corp (f/k/a Canbiola, Inc.) -- http://www.canbiola.com-- is a health & wellness company providing hemp derived cannabinoid products, including under its own brands of Canbiola, Seven Chakras, NuWellness, Pure Leaf Oil and Duramed. Can B utilizes multi-channel distribution to reach consumers, including medical facilities, doctor offices, retailers, online and direct. Can B Corp. operates R&D and production facilities in Lacey, WA, and Florida. Can B Corp. reported a net loss of $14.92 million for the year ended Dec. 31, 2022, compared to a net loss of $12.17 million for the year ended Dec. 31, 2021. As of Dec. 31, 2022, the Company had $15.56 million in total assets, $12.86 million in total liabilities, and $2.70 million in total stockholders' equity. Lakewood, CO-based BF Borgers CPA PC, the Company's auditor since 2021, issued a "going concern" qualification in its report dated April 17, 2023, citing that the Company's significant operating losses raise substantial doubt about its ability to continue as a going concern. CAPROCK LAND: Court OKs Appointment of Laurie Rea as Trustee ------------------------------------------------------------ Judge Robert Jones of the U.S. Bankruptcy Court for the Northern District of Texas approved the appointment of Laurie Dahl Rea as Chapter 11 trustee for Caprock Land Company, LLC. The appointment comes upon the application filed by Kevin Epstein, the U.S. Trustee for Region 7, to appoint a bankruptcy trustee in Caprock's Chapter 11 case. As disclosed in court filings, Ms. Rea has no connection with Caprock, creditors and other parties involved in the company's bankruptcy case. About CapRock Land Company CapRock Land Company, LLC is a global logistics company that manages organic feed ingredients around the world to the benefit of its end customers. It operates seven storage facilities across the United States. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 23-20172) on August 25, 2023, with $1 million to $10 million in assets and $10 million to $50 million in liabilities. Thomas Bunkley, owner, signed the petition. Judge Robert L. Jones oversees the case. Steven L. Hoard, Esq., at Mullin Hoard & Brown, LLP, represents the Debtor as legal counsel. StoneX Commodity Solutions LLC, as lender, is represented by Polsinelli PC. CEL-SCI CORP: Files Form S-8 for Employee Compensation Plans ------------------------------------------------------------ CEL-SCI Corporation filed a Form S-8 registration statement with the Securities and Exchange Commission relating to the shares of the Company's common stock which may be issued pursuant to certain employee compensation plans adopted by the Company. The employee compensation plans provide for the grant, to selected employees of CEL-SCI and other persons, of either shares of CEL-SCI's common stock or options to purchase shares of CEL-SCI's common stock. Persons who received Shares pursuant to the Plans and who are offering such shares to the public by means of this Prospectus are referred to as the "Selling Shareholders". CEL-SCI has Incentive Stock Option Plans, Non-Qualified Stock Option Plans, Stock Bonus Plans, Stock Compensation Plans and a 2014 Incentive Stock Bonus Plan. In some cases these plans are collectively referred to as the "Plans". The terms and conditions of any stock grants and the terms and conditions of any options, including the price of the shares of Common Stock issuable on the exercise of options, are governed by the provisions of the respective Plans and any particular agreements between CEL-SCI and the Plan participants. The Selling Shareholders may offer the shares from time to time in negotiated transactions through the NYSE American Exchange, at fixed prices which may be changed from time to time, at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices. The Selling Shareholders may effect such transactions by selling the Shares to or through securities broker/dealers, and such broker/dealers may receive compensation in the form of discounts, concessions, or commissions from the Selling Shareholders and/or the purchasers of the Shares for whom such broker/dealers may act as agent or to whom they sell as principal, or both (which compensation as to a particular broker/dealer might be in excess of customary commissions). None of the proceeds from the sale of the Shares by the Selling Shareholders will be received by CEL-SCI. CEL-SCI has agreed to bear all expenses of registering the Shares with the Securities and Exchange Commission (other than underwriting discounts, selling commissions and fees and expenses of counsel and other advisers to the Selling Shareholders). About CEL-SCI CEL-SCI Corporation is a clinical-stage biotechnology company focused on finding the best way to activate the immune system to fight cancer and infectious diseases. Its lead investigational therapy Multikine (Leukocyte Interleukin, Injection) completed a pivotal Phase 3 clinical trial for patients who are newly diagnosed with locally advanced (stage III and IV) primary (not yet treated) squamous cell carcinoma of the head and neck (SCCHN). Multikine has received Orphan Drug Status from the U.S. Food and Drug Administration (FDA) for this indication. The Company has operations in Vienna, Virginia, and near Baltimore, Maryland. Potomac, Maryland-based BDO USA, P.C., the Company's auditor since 2005, issued a "going concern" qualification in its report dated Dec. 31, 2023, citing that the Company has suffered recurring losses from operations and has future liquidity needs that raise substantial doubt about its ability to continue as a going concern. CELSIUS NETWORK: Bankruptcy Court Okays Reorganization Plan ----------------------------------------------------------- The reorganization plan sponsored by Hut 8 Corp. (Nasdaq | TSX: HUT), one of North America's largest, most innovative digital asset mining pioneers and high performance computing infrastructure providers, filed in the Celsius Network LLC bankruptcy proceedings was approved by the United States Bankruptcy Court for the Southern District of New York. The plan provides for the transfer of Celsius Network LLC's mining operations to a newly-created "MiningCo," with Hut 8 managing MiningCo's mining operations under a four-year mining management agreement. "The mining plan that was presented to the creditors and the courts is strong and sound, and we look forward to proceeding with construction imminently at the Cedarvale, Texas site, and managing four additional sites once the process closes in the first quarter of 2024," said Asher Genoot, President of Hut 8. "We believe we have an excellent track record of expediently building and efficiently managing mining operations, and we look forward to growing our managed services business while also building equity for creditors of Celsius through their equity interests in MiningCo." Under the managed services contract, Hut 8 will provide end-to-end managed services for MiningCo's operations at five sites in Texas, overseeing approximately 12 EH/s computing capacity (122,000 miners) and more than 300 MW of energy. Hut 8 will provide managed services at four Texas locations totaling 87 MW: -- Rebel, 25 MW -- East Isle, 30 MW -- Style, 20 MW -- Garden City, 12 MW In Cedarvale, Texas, Hut 8 will be responsible for the fifth MiningCo site's design and development, engineering, financial modeling, budgeting, accounting, construction management, procurement, logistics, RFP coordination, and the management of approximately 66,000 miners and more than 215 MW of energy once construction is complete. The effectiveness of the plan remains subject to the satisfaction of certain conditions precedent. As previously announced, Hut 8 combined businesses with U.S. Data Mining Group, Inc. d/b/a US Bitcoin Corp ("USBTC") last month and was selected by Celsius to provide end-to-end development services for the Cedarvale site. About Hut 8 Through innovation, imagination, and passion, Hut 8 Corp.'s seasoned executive team is bullish on creating value at the intersection of infrastructure and energy through Bitcoin mining and hosting, groundbreaking managed services, energy arbitrage, operating traditional data centers, and capitalizing on emerging technologies like AI and machine learning. Headquartered in Miami, Florida, Hut 8 Corp.'s infrastructure portfolio includes eleven sites: five high performance computing data centers across British Columbia and Ontario that offer cloud, co-location, AI, machine learning, and VFX rendering computing solutions, and six Bitcoin mining, hosting, and managed services sites located in Alberta, New York, Nebraska, and Texas. Long-distinguished for its unique treasury strategy, Hut 8 Corp. has one of the highest inventories of self-mined Bitcoin of any publicly-traded company globally. About Celsius Network Celsius Network LLC -- http://www.celsius.network/-- is a financial services company that generates revenue through cryptocurrency trading, lending, and borrowing, as well as by engaging in proprietary trading. Crypto lenders such as Celsius boomed during the COVID-19 pandemic, drawing depositors with high interest rates and easy access to loans rarely offered by traditional banks. But the lenders' business model came under scrutiny after a sharp sell-off in the crypto market spurred by the collapse of major tokens terraUSD and luna in May 2022. New Jersey-based Celsius froze withdrawals in June 2022, citing "extreme" market conditions, cutting off access to savings for individual investors and sending tremors through the crypto market. The list of major crypto firms that have filed for bankruptcy protection in 2022 now includes Celsius Network, Three Arrows Capital and Voyager Digital. Celsius Network, LLC and its subsidiaries sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 22-10964) on July 14, 2022. In the petition filed by CEO Alex Mashinsky, the Debtors estimated assets and liabilities between $1 billion and $10 billion. The Debtors tapped Kirkland & Ellis, LLP as bankruptcy counsel; Fischer (FBC & Co.) as special counsel; Centerview Partners, LLC as investment banker; and Alvarez & Marsal North America, LLC, as financial advisor. Stretto is the claims agent and administrative advisor. On July 27, 2022, the U.S. Trustee appointed an official committee of unsecured creditors. The committee tapped White & Case, LLP, as its bankruptcy counsel; Elementus Inc. as its blockchain forensics advisor; M3 Advisory Partners, LP as its financial advisor; and Perella Weinberg Partners, LP as its investment banker. Shoba Pillay, Esq., is the examiner appointed in the Debtors' Chapter 11 cases. Jenner & Block, LLP, and Huron Consulting Services, LLC, serve as the examiner's legal counsel and financial advisor, respectively. CHIC NAILS: Seeks to Hire Malone Tax and Bookkeeping as Accountant ------------------------------------------------------------------ Chic Nails, Inc. seeks approval from the U.S. Bankruptcy Court for the Western District of Arkansas to employ Randy Malone of Malone Tax and Bookkeeping as its accountant. The firm will prepare the Debtor's tax returns at an hourly rate of $160 per hour. Mr. Malone, owner of Malone Tax and Bookkeeping, assured the court that his firm is a disinterested person within the meaning of 11 U.S.C. Sec. 101(14). The firm can be reached through: Randy Malone Malone Tax and Bookkeeping 1311D Albert Pike Road Hot Springs, AR 71913 Phone: 501-525-4800 About Chic Nails, Inc. Chic Nails, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. W.D. Ark. Case No. 23-71690) on Nov. 10, 2023, with up to $50,000 in assets and $100,001 to $500,000 in liabilities. Judge Bianca M. Rucker oversees the case. Marc Honey, Esq., at Honey Law Firm, P.A. represents the Debtor as bankruptcy counsel. CITY EATS: Hires McClain & Company as Accountant & Tax Advisor -------------------------------------------------------------- City Eats, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ McClain & Company, P.C. as its accountant and tax advisor. The firm will render these services: a. assist with bankruptcy reporting requirements and diligence requests; b. assist preparing a plan of reorganization and disclosure statement; c. assist with claims analysis and resolution process; d. advise and assist with federal and state income tax analysis and filing; e. provide research and documentation in support of federal, state, and local tax issues related to the bankruptcy filing; and f. advise and assist with the resolution of bankruptcy tax claims. Laurie McClain, owner of of McClain & Company, tells the Court that she will bill $225 for this engagement. Ms. McClain assures the Court that the Firm is "disinterested" as that term is defined in Sec. 101(14) of the Bankruptcy Code. The firm can be reached through: Laurie McClain, CPA, MTx McClain & Company, P.C. P.O. Box 3457 Suwanee, GA 30024 Telephone: (678) 474-9090 Facsimile: (678) 288-9464 About City Eats, LLC City Eats, LLC sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 23-60884) on November 3, 2023, listing under $1 million in both assets and liabilities. Charles N. Kelley, Jr. at Kelley & Clements LLP represents the Debtor as counsel. CLEAN ENERGY: Closes Securities Purchase Deal With 1800 Diagonal ---------------------------------------------------------------- Clean Energy Technology, Inc. disclosed in a Form 8-K filed with the Securities and Exchange Commission that it closed the transactions contemplated by the Securities Purchase Agreement with 1800 Diagonal Lending LLC dated Dec. 21, 2023 pursuant to which the Company issued to Diagonal a $92,000 Convertible Promissory Note, due Oct. 30, 2024 for a purchase price of $80,000 plus an original issue discount in the amount of $12,000, and a one-time interest charge of $9,200. The Company shall make 10 payments each in the amount of $10,120 to Diagonal every month, with the first one due Jan. 30, 2024. The principal and interest of the Note may be converted in whole or in part at any time on or following the issue date, into common stock of the Company, par value $.001 share, subject to anti-dilution adjustments and for certain other corporate actions subject to a beneficial ownership limitation of 4.99% of Diagonal and its affiliates. The per share conversion price into which principal amount and accrued interest may be converted into shares of Common Stock equals $1.60, subject to adjustment as provided in the Note. Upon an event of default, the Note will become immediately payable and the Company shall be required to pay a default rate of interest of 22% per annum. The Note contains customary representations, warranties and covenants of the Company. The Securities Purchase Agreement provides customary representations, warranties and covenants of the Company and Diagonal as well as providing Diagonal with registration rights. About Clean Energy Headquartered in Costa Mesa, California, Clean Energy Technologies, Inc. -- http://www.cetyinc.com-- designs, produces and markets clean energy products and integrated solutions focused on energy efficiency and renewables. The Company provides waste heat recovery solutions, waste to energy solutions, and engineering, consulting and project management solutions. Spokane, Washington-based Fruci & Associates II, PLLC, the Company's auditor since 2015, issued a "going concern" qualification in its report dated April 17, 2023, citing that the Company has an accumulated deficit, a working capital deficit and negative cash flows from operations. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. COMMUNITY HEALTH: CastleKnight Entities Acquire 7.1% Equity Stake ----------------------------------------------------------------- In a Schedule 13G filed with the Securities and Exchange Commission, the following entities reported beneficial ownership of shares of common stock of Community Health Systems, Inc. as of Dec. 14, 2023: Shares Percent Beneficially of Reporting Person Owned Class CastleKnight Master Fund LP 9,740,623 7.1% CastleKnight Fund GP LLC 9,740,623 7.1% CastleKnight Management LP 9,740,623 7.1% CastleKnight Management GP LLC 9,740,623 7.1% Weitman Capital LLC 9,740,623 7.1% Aaron Weitman 9,740,623 7.1% A full-text copy of the regulatory filing is available for free at: https://www.sec.gov/Archives/edgar/data/1108109/000091957423006839/d10918450_13-g.htm About Community Health Systems Inc. Community Health Systems, Inc. -- http://www.chs.net-- is a publicly traded hospital company and an operator of general acute care hospitals in communities across the country. As of Oct. 25, 2023, the Company's subsidiaries own or lease 76 affiliated hospitals with over 12,000 beds and operate more than 1,000 sites of care, including physician practices, urgent care centers, freestanding emergency departments, occupational medicine clinics, imaging centers, cancer centers and ambulatory surgery centers. As of Sept. 30, 2023, the Company had $14.67 billion in total assets, $15.56 billion in total liabilities, $329 million in redeemable noncontrolling interests in equity of consolidated subsidiaries, and a total stockholders' deficit of $1.22 billion. * * * As reported by the TCR on Dec. 15, 2023, Moody's Investors Service downgraded CHS/Community Health Systems, Inc.'s Corporate Family Rating to Caa2 from Caa1. Moody's said the downgrade of Community Health's ratings reflects the company's very high level of the financial leverage and the company's inability to generate positive free cash flow despite some industrywide easing of labor pressure in recent quarters. As reported by the TCR on Dec. 20, 2023, S&P Global Ratings raised its rating on Community Health Systems Inc. to 'CCC+' from 'SD' (selective default). S&P said, "We believe Community Health's capital structure is currently unsustainable. The company remains highly leveraged with S&P Global Ratings-adjusted debt to EBITDA of 8.4x. In addition, the company has not established a track record of sustained positive free cash flow generation. While we expect improved EBITDA margins and positive cash flow in 2024, leverage will remain high while the company has a significant interest burden and maturities starting in 2026." CONCRETE SOLUTIONS: Amends U.S. Bank Claim Pay Details ------------------------------------------------------ Concrete Solutions & Supply ("CSS") submitted a Second Amended Disclosure Statement describing First Amended Chapter 11 Plan dated December 28, 2023. This is a reorganizing plan. CSS will make payments to creditors over time. The effective date of the proposed Plan is 30 days following entry of an order confirming the proposed Plan. Secured claims are claims secured by liens on estate property. * Monies and Receivables. The Debtor's personal property assets include accounts with a balance of $34,203 (as of Sept. 30, 2023), monies on hand at the stores typically at $1,000, and collectable receivables of approximately $50,000 with total receivables at $75,796 (as of Sept. 30, 2023). * Machinery and Equipment for Rent. CSS owns equipment that is rented for concrete restoration work. * Inventory of Machinery, Equipment and Products for Sale. As to machinery, equipment and inventory offered for sale, again there is the problem of older inventory that has aged out. This is inventory that will not sell because there are insufficient amounts of the inventory on hand, the product has aged out or is obsolete. The Debtor has determined that a significant portion will not sell. Total inventory value if sold over time is estimated to be approximately $199,000. This figure includes deductions for obsolete and unsaleable inventory. Total inventory if all of it could be sold would likely sell for $334,009. However, the Debtor estimates that dead inventory, inventory that will not ever be purchased for various reasons totals $74,828, certain inventory known as Fast Change inventory which should sell for $16,807, will never sell because the product line was discontinued and CSS lacks sufficient stock to make complete sets, certain cement toppings inventory with a sales value of $17,000 will not sell because they are expiring. With the deductions in inventory value, it concludes that the likely sale value of the inventory over time is $199,687. If the Debtor's M&E are valued over time, Union Bank is undersecured. Much of the M&E has reached to or near the end of its useful lives, are well used, and lack considerable value. The Debtor intends, post-confirmation, to infuse new monies from Mr. Anderson to purchase new M&E for sale or to rent. The Debtor's inventory value of $199,687, assumes a sale over time. As a result, U.S. Bank (formerly Union Bank) is under-secured. Exhibit "G" consists of (1) a chart showing the various property assets, their values and the basis for the Debtor's opinion that U.S. Bank's collateral is valued at $311,907 on a going concern value and (2) internal reports showing present values for the Debtor's inventory, for its machinery and equipment and for inventory it does not believe it will be able to sell as of October 10, 2023. Class 1 consists of the Claim of the U.S. Bank formerly known as Union Bank. Asserts claim of $330,179, which is not fully secured. Bank to be paid $311,907 over a period of 7 years at 6.5% interest (Fed'l Funds Rate at 5.5% plus a risk factor of 1 point) Debtor has been paying $1,500 monthly to US Bank during the chapter 11 case. Payments in M1 to M12 at $2,000 monthly, payments in M13 to 48 at $3,000 monthly, payments in M49 to 84 at $3,500 monthly. Total payments through month 84 will total $258,000. As shown in the projection, the Debtor will make periodic mini balloon payments of $4,000 to U.S. Bank in months specified in the projection. Then in month 85, Debtor will make a balloon payment to US Bank to pay off this obligation. The Debtor estimates that the balloon payment will be $127,757. Like in the prior iteration of the Plan, General Unsecured Claims in Class 2 shall receive monthly payment starting at month 12 with a payment amount of $1,767 for the class. Years 2 to 5 with monthly payments of $1,767. Total payments shall be $86,583. The Plan will be funded by the Debtor's business operation. The Debtor anticipates having monies of $31,000 on hand at the Plan's Effective Date from ongoing operations plus the $30,000 in new value monies. A full-text copy of the Second Amended Disclosure Statement dated December 28, 2023 is available at https://urlcurt.com/u?l=KF496s from PacerMonitor.com at no charge. Attorneys for Debtor: The Fox Law Corporation, Inc. Steven R. Fox. Esq. Encino, CA 91316 Phone: (818) 774-3545 Fax: (818) 774-3707 Email: srfox@foxlaw.com About Concrete Solutions & Supply Concrete Solutions & Supply supplies concrete restoration products and rents concrete restoration machinery and equipment largely to sub-contractors and to property owners from two store locations in Newbury Park and Fullerton, California. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 23-bk-10314) on April 25, 2023. In the petition signed by Alton Anderson, president, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Ronald A. Clifford III oversees the case. Steven R. Fox, Esq., at The Fox Law Corporation Inc., is the Debtor's legal counsel. CORE SCIENTIFIC: Files Amended Reorganization Plan -------------------------------------------------- Core Scientific, Inc. (OTC: CORZQ), a leader in high-performance blockchain computing data centers and software solutions, on Dec. 29 announced the filing of an amended plan of reorganization (the "Plan") and extension of the subscription deadline for its Equity Rights Offering to January 5, 2024. The Company previously announced a global settlement with all key stakeholders, including the Ad Hoc Noteholders Group, the Unsecured Creditors Committee, the Equity Committee, and B. Riley -- the Company's Debtor in Possession lender (the "Global Settlement"). While subject to further finalization, the Plan reflects the Global Settlement and represents another step towards confirmation and exit from Chapter 11. In connection with filing of the Plan, the Bankruptcy Court also approved the Company's motion requesting to modify certain dates and deadlines with respect to the Plan, including an extension of the deadlines to vote on the Plan or file an objection to the Plan. While the Court has agreed to reschedule the combined hearing to consider both (a) final approval of the Disclosure Statement and (b) confirmation of the Plan to January 16, 2024 (the "Combined Hearing"), the Company still expects to emerge from Chapter 11 in mid-to-late January 2024. As a result of rescheduling the Combined Hearing, the deadline for participating in the Equity Rights Offering has been extended to Friday, January 5, 2024. The Rights Offering Procedures and Subscription Form can be found and submitted by clicking here https://cases.stretto.com/corescientific/content/2529-submit-rights-offering-form/ Plan and Equity Rights Offering Timeline: Event Illustrative Date/Timing ----- ------------------------ Equity Rights Offering Record Date Nov. 16, 2023 End of Rights Offering Subscription Period / Deadline for Funding Rights Offering Subscription Amounts Jan. 5, 2023 Voting Deadline Jan. 11, 2024 Currently Scheduled Combined Hearing Date Jan. 16, 2024 Anticipated Plan Distribution Record Date for Existing Convertible Notes Jan. 16, 2024 Anticipated Plan Effective Date TBD Anticipated Plan Distribution Record Date for Existing Common Shares (expected mid to late-January 2024) Nasdaq Listing Expected at or shortly after emergence (1) The timeline in the table is illustrative and assumes a consensual Plan. Actual dates will depend on the Court's calendar and discretion, the status of negotiations with stakeholders, and stakeholder views on appropriate deadlines (2) 2 business days before Anticipated Plan Effective Date This press release is solely for informational purposes. Investors should not rely upon it or use it to form the definitive basis for any decision or action whatsoever, with respect to any proposed transaction or otherwise. Investors should read the Plan and the related Disclosure Statement, each as amended or supplemented, which are available (i) on the website of Stretto, the Company's voting and solicitation agent, at https://cases.stretto.com/corescientific/, (ii) by calling Stretto at (949) 404-4152 (in the U.S. and Canada; toll-free) or +1 (888) 765-7875 (outside of the U.S. and Canada), or (iii) by sending an electronic mail message to CoreScientificInquiries@stretto.com. About Core Scientific Core Scientific, Inc. (OTCMKTS: CORZQ) is the largest U.S. publicly-traded Bitcoin mining company in computing power. Core Scientific, which was formed following a business combination in July 2021 with blank check company XPDI, is a large-scale operator of dedicated, purpose-built facilities for digital asset mining colocation services and a provider of blockchain infrastructure, software solutions and services. Core mines Bitcoin, Ethereum and other digital assets for third-party hosting customers and for its own account at its six fully operational data centers in North Carolina (2), Georgia (2), North Dakota (1) and Kentucky (1). Core was formed following a business combination in July 2021 with XPDI, a blank check company. In July 2022, one of the Company's largest customers, Celsius Mining LLC, filed for Chapter 11 bankruptcy in New York. With low Bitcoin prices depressing mining revenue to a record low, Core Scientific first warned in October 2022 that it may have to file for bankruptcy if the company can't find more funding to repay its debt that amounts to over $1 billion. Core Scientific did not make payments that came due in late October and early November 2022 with respect to several of its equipment and other financings, including its two bridge promissory notes. Core Scientific and its affiliates filed petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 22-90341) on Dec. 21, 2022. As of Sept. 30, 2022, Core Scientific had total assets of US$1.4 billion and total liabilities of US$1.3 billion. The case was originally assigned to Judge David R. Jones. The case was later assigned to Judge Christopher M. Lopez. The Debtors hired Weil, Gotshal & Manges, LLP as legal counsel; PJT Partners, LP as investment banker; and AlixPartners, LLP as financial advisor. Stretto is the claims agent. A group of Core Scientific convertible bondholders is working with restructuring lawyers at Paul Hastings. Meanwhile, B. Riley Commercial Capital, LLC, as administrative agent under the Replacement DIP facility, is represented by Choate, Hall & Stewart, LLP. On Jan. 9, 2023, the U.S. Trustee for Region 7 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee tapped Willkie Farr & Gallagher, LLP as legal counsel and Ducera Partners, LLC as investment banker. The U.S. Trustee for Region 7 appointed an official committee of equity security holders. The equity committee is represented by Vinson & Elkins, LLP. CUENTAS INC: Four Proposals Approved at Annual Meeting ------------------------------------------------------ Cuentas, Inc. held its 2023 Annual Meeting during which the Company's shareholders: (1) elected Arik Maimon, Michael De Prado, Adiv Baruch, Lexi Terrero, and Haim Yeffet as directors to hold office until the 2024 Annual Meeting of Shareholders; (2) approved, pursuant to Nasdaq listing rules, the issuance of up to 1,232,606 shares of the Company's common stock upon the exercise of its common stock purchase warrant issued to an institutional investor in connection with the Warrant Exercise and Inducement Letter dated Aug. 21, 2023 and the issuance of up to 43,141 shares of common stock upon the exercise of the placement agent warrants issued to the designees of H.C. Wainwright & Co.; (3) did not approve an amendment to the Company's Amended and Restated Articles of Incorporation, as amended, to increase the number of authorized shares of common stock from 27,692,307 to 100,000,000 shares; (4) approved the Cuentas 2023 Share Incentive Plan; and (5) ratified the appointment of Yarit + Partners (ISR.) as the Company's independent registered public accounting firm for the fiscal year ending Dec. 31, 2023. About Cuentas Headquartered in Miami, Florida, Cuentas, Inc. -- http://www.cuentas.com-- is creating an alternative financial ecosystem for the growing global population who do not have access to traditional financial alternatives. The Company's proprietary technologies help to integrate FinTech (Financial Technology), e-finance and e-commerce services into solutions that deliver next generation digital financial services to the unbanked, under-banked and underserved populations nationally in the USA. The Cuentas Platform integrates Cuentas Mobile, the Company's Telecommunications solution, with its core financial services offerings to help entire communities enter the modern financial marketplace. Cuentas has launched its General Purpose Reloadable (GPR) Card, which includes a digital wallet, discounts for purchases at major physical and online retailers, rewards, and the ability to purchase digital content. Cuentas reported a net loss attributable to the company of $14.53 million in 2022, a net loss attributable to the company of $10.73 million in 2021, a net loss attributable to the company of $8.10 million in 2020, a net loss attributable to the company of $1.32 million in 2019, and a net loss of $3.56 million in 2018. As of March 31, 2023, the Company had $5.19 million in total assets, $2.31 million in total liabilities, and $2.88 million in total stockholders' equity. In its Quarterly Report for the three months ended Sept. 30, 2023, Cuentas reported that the Company had $1,057,000 in cash and cash equivalents, $1,081,000 in negative working capital, and an accumulated deficit of $57,044,000 as of Sept. 30, 2023. These conditions raise substantial doubt about the Company's ability to continue as a going concern, according to the Quarterly Report. CUSMA SOBER: Frederic Schwieg Named Subchapter V Trustee -------------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Frederic Schwieg, Esq., at Schwieg Law, as Subchapter V trustee for Cusma Sober Housing. Mr. Schwieg will be paid an hourly fee of $350 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Schwieg declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Frederic P. Schwieg, Esq. Schwieg Law 2705 Gibson Drive Rocky River, OH 44116-1815 Phone: (440) 499-4506 Email: fschwieg@schwieglaw.com About Cusma Sober Housing Cusma Sober Housing filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ohio Case No. 23-61502) on December 21, 2023, with $100,001 to $500,000 in both assets and liabilities. Judge Tiiara N. A. Patton oversees the case. Anthony J. DeGirolamo represents the Debtor as legal counsel. DBA TRANSPORTATION: Gerard Luckman Named Subchapter V Trustee ------------------------------------------------------------- The U.S. Trustee for Region 2 appointed Gerard Luckman, Esq., at Forchelli Deegan Terrana, LLP as Subchapter V trustee for DBA Transportation Inc. Mr. Luckman will be paid an hourly fee of $695 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Luckman declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Gerard R. Luckman, Esq. Forchelli Deegan Terrana, LLP 333 Earle Ovington Blvd., Suite 1010 Uniondale, NY 11553 Tel: (516) 812-6291 Email: gluckman@ForchelliLaw.com About DBA Transportation DBA Transportation, Inc. provides daily transportation for development ally disabled adults from their homes to their daily educational and habilitation programs at AHRC facilities in Bohemia and Westhampton Beach, N.Y. DBA Transportation filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D. N.Y. Case No. 23-74786) on December 20, 2023, with up to $50,000 in assets and up to $10 million in liabilities. Charles Rampone, president, signed the petition. Judge Robert E. Grossman oversees the case. Eric J. Snyder, Esq., at Wilk Auslander LLP, represents the Debtor as legal counsel. DIOCESE OF ALBANY: Seeks to Extend Plan Exclusivity to April 8 -------------------------------------------------------------- The Roman Catholic Diocese of Albany, New York asked the U.S. Bankruptcy Court for the Northern District of New York to extend its exclusive periods within which to file its plan to April 8, 2024 and to solicit acceptances of its chapter 11 plan to June 7, 2024. This is the Debtor's third request for extension. Unless extended, the Debtor's exclusive filing and exclusive solicitation periods expire on January 9, 2024 and March 9, 2024, respectively. The Debtor claims that it has diligently worked to move the case forward. The Debtor stated that it filed an adversary proceeding against the insurers asserting certain claims with respect to the insurance policies affording coverage to the Debtor and Non- Debtor entities, along with a proposed stipulation staying the prosecution of that action while the parties proceed with mediation of the case. The Debtor anticipates that the parties will provide their respective mediation statements to the mediators in early January, 2024, with an initial mediation session commencing by the end of January, 2024 or early February, 2024, and continuing thereafter in an attempt to reach agreement on the terms of a Chapter 11 reorganization plan that can be consensually confirmed. The Roman Catholic Diocese of Albany, New York is represented by: Francis J. Brennan, Esq. Matthew M. Zapala, Esq. Joseph Martin, Esq. 80 State Street, 11th Floor Albany, NY 12207 Tel: (518) 449-3300 About The Roman Catholic Diocese of Albany, New York The Roman Catholic Diocese of Albany is a religious organization in Albany, N.Y. It covers 13 counties in Eastern New York, including a portion of the 14th county. Its Mother Church is the Cathedral of the Immaculate Conception in the city of Albany. New York's Child Victims Act, which took effect in August 2019, temporarily sets aside the usual statute of limitations for lawsuits to give victims of childhood sexual abuse a year to pursue even decades-old claims. Hundreds of new lawsuits have been filed against churches and other institutions since the law took effect on Aug. 14, 2019. Facing the financial weight of new sexual misconduct lawsuits, at least four of the eight Roman Catholic dioceses in the state, has already sought Chapter 11 protection. The dioceses that have declared bankruptcy include the Diocese of Rochester and the Diocese of Rockville Centre on Long Island. The Catholic Diocese of Albany sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D.N.Y. Case No. 23-10244) on March 15, 2023. In the petition filed by Fr. Robert P. Longobucco, the Debtor estimated assets between $10 million and $50 million and liabilities between $50 million and $100 million. Judge Robert E. Littlefield, Jr. oversees the case. The Debtor tapped Nolan Heller Kauffman, LLP as bankruptcy counsel; Tobin and Dempf, LLP as special litigation counsel; Keegan Linscott & Associates, PC as financial advisor; and Bonadio & Co., LLP as accountant. Donlin, Recano & Company, Inc. is the claims and noticing agent. On April 17, 2023, the U.S. Trustee for Region 2 appointed two separate committees to represent unsecured creditors and tort claimants in the Debtor's Chapter 11 case. Lemery Greisler, LLC represents the unsecured creditors' committee while Stinson, LLP represents the tort committee. OneDigital Investment Advisors, LLC is the committees' special investment consultant. DIXON HOLDINGS: Voluntary Chapter 11 Case Summary ------------------------------------------------- Debtor: Dixon Holdings, LLC 436 Calbira Ave. North Port, FL 34287 Business Description: Dixon Holdings is a Single Asset Real Estate debtor (as defined in 11 U.S.C. Section 101(51B)). Chapter 11 Petition Date: January 2, 2024 Court: United States Bankruptcy Court Middle District of Florida Case No.: 24-00011 Judge: Hon. Roberta A. Colton Debtor's Counsel: Steven M. Berman, Esq. SHUMAKER, LOOP & KENDRICK, LLP 101 E. Kennedy Blvd., Suite 2800 Tampa, FL 33602 Tel: (813) 229-7600 Email: sberman@shumaker.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $500,000 to $1 million The petition was signed by Roberta Masnyj as manager. A copy of the Debtor's list of 20 largest unsecured creditors is now available for download at PacerMonitor.com. A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/QEKVNWA/Dixon_Holdings_LLC__flmbke-24-00011__0001.0.pdf?mcid=tGE4TAMA DMD SERVICES: Court Approves Disclosure Statement ------------------------------------------------- Judge Magdeline D. Coleman has entered an order approving the Disclosure Statement explaining the Plan of DMD Services, Inc. The proposed voting procedures and proposed voting materials are approved. Jan. 29, 2024, is set as the last date by which ballots must be received in order to be considered as acceptances or rejections of the Plan of Reorganization. Jan. 29, 2024, is fixed as the date on or before which any written objection to confirmation to confirmation of the Plan is required to be filed with the Court and served upon counsel for the debtor. The hearing on confirmation of the Plan shall be held on Feb. 14, 2024, at 11:30 a.m. in the United States Bankruptcy Court, 900 Market Street, Courtroom No. 2, Philadelphia PA 19107. About DMD Services DMD Services, Inc., was formed in order to own real estate which was purchased in November 1992 and is located at 899 893 Main Street, Darby PA. The Debtor filed a Chapter 11 bankruptcy petition (Bankr. E.D. Pa. Case No. 23-10152) on Jan. 18, 2023, with as much as $50,000 in both assets and liabilities. Kim Graves, president, signed the petition. Judge Magdeline D. Coleman oversees the case. The Law Offices of Timothy Zearfoss serves as the Debtor's legal counsel. DOS EX CATTLE: Case Summary & Nine Unsecured Creditors ------------------------------------------------------ Debtor: Dos Ex Cattle Co., LLC 130 N. Dumas Ave. Dumas, TX 79029 Chapter 11 Petition Date: January 2, 2024 Court: United States Bankruptcy Court Northern District of Texas Case No.: 24-20003 Debtor's Counsel: Max R. Tarbox, Esq. TARBOX LAW, P.C. 2301 Broadway Lubbock, TX 79401 Tel: (806) 686-4448 Fax: (806) 368-9785 Email: tami@tarboxlaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Charles Blake Stringer as managing member. A full-text copy of the petition containing, among other items, a list of the Debtor's nine unsecured creditors is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/PN6OARA/Dos_Ex_Cattle_Co_LLC__txnbke-24-20003__0001.0.pdf?mcid=tGE4TAMA EAGLE PROPERTIES: Hires Protus Realty Inc. as Real Estate Broker ---------------------------------------------------------------- Eagle Properties and Investments, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Virginia to hire Protus Realty Inc. as real estate broker. The broker will market and sell three of the Debtor's Pennsylvania properties: (a) 7180 Jonestown Rd, Harrisburg, PA; (b) 7213 Linglestown Rd, Harrisburg, PA; and (c) 71 Lucy Avenue, Hummelstown, PA. The firm will be compensated as follows: a. 71 Lucy Ave., Hummelstown, PA 17036; Broker Fee is 6 percent of the sale price and $495. b. 7180 Jonestown Rd., Harrisburg, PA 17112; Broker Fee is 6 percent of the sale price and $495. c. 7213 Linglestown Rd., Harrisburg, PA 17112; Broker Fee is 6 percent of the sale price and $495. Scott Weaber, a broker with Protus Realty, assured the court that the firm is a "disinterest person" within the meaning of 11 U.S.C. 101(14). The firm can be reached through: Sharon Weaber Scott Weaber PROTUS REALTY INC. 747 Middletown Road Hummelstown, PA 17036 Phone: (717) 329-6021 About Eagle Properties and Investments Eagle Properties and Investments, LLC, is a Vienna Va.-based company engaged in leasing real estate properties. It owns 26 properties valued at $9.37 million. Eagle Properties and Investments filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Va. Case No. 23-10566) on April 6, 2023, with $9,429,800 in total assets and $14,716,136 in liabilities. Amit Jain, manager, signed the petition. The Debtor tapped the Law Offices of Sris, P.C. and N D Greene, PC. as bankruptcy counsels; Whiteford, Taylor & Preston, LLP as special counsel; and SC&H Group, Inc. as financial advisor and accountant. ENVIVA INC: Appoints Glenn Nunziata as Director ----------------------------------------------- Enviva Inc. disclosed in a Form 8-K filed with the Securities and Exchange Commission that the Company appointed Glenn T. Nunziata to the board of directors of the Company, effective Dec. 21, 2023. Mr. Nunziata serves as interim chief executive officer and chief financial officer of the Company and also serves as the Company's principal accounting officer. Mr. Nunziata will not be entitled to receive any additional compensation as a result of his appointment to the Board. Compensatory Arrangements of Glenn T. Nunziata In connection with his role as interim chief executive officer and chief financial officer, Enviva Management Company, LLC, a wholly owned subsidiary of the Company, will enter into an amended employment agreement with Mr. Nunziata. The initial term of the Employment Agreement will be one year and it will automatically renew annually for successive 12-month periods unless either party provides written notice of non-renewal at least 60 days prior to a renewal date. Pursuant to the Employment Agreement, Mr. Nunziata (i) will receive an annual salary of $850,000; (ii) will be eligible to receive a discretionary annual bonus under the Company's annual incentive plan for management, the target amount of which will be equal to 150% of Mr. Nunziata's annual salary with the amount of the annual bonus actually paid to Mr. Nunziata being determined using performance standards established by the board of directors or a committee thereof, in its sole discretion; (iii) will be eligible to receive annual grants under the Company's long-term incentive plan with a target value of 350% of Mr. Nunziata's annual salary (with the 2024 grant to be subject to a vesting schedule that will vest in two equal installments on each of the third and the fourth anniversary of the date of grant of the award, subject to continued employment by Mr. Nunziata on such dates); and (iv) will be eligible to participate in the employee benefit plans and programs available to similarly situated employees. Mr. Nunziata will also be entitled to a reimbursement for business expenses under the Employment Agreement. In addition, Mr. Nunziata's severance multiple will be increased from 1.0 times to 1.5 for a qualifying termination prior to a change in control (and from 1.5 times to 2.0 for a qualifying termination in connection with a change in control) with a corresponding increase in the length of his group medical benefit continuation coverage. Retention and Incentive Programs Also on Dec. 21, 2023, the Board approved two compensation arrangements for certain executive officers and members of the Company's management team (including all of its named executive officers other than Thomas Meth) which will result in changes to the annual bonus plan and LTIP programs described above for Mr. Nunziata during the 2024 calendar year. For 2024, the annual incentive plan award and LTIP grants described above will be replaced with grants from a cash-based retention program and an incentive program, as applicable. The retention program will provide each executive with a target award equal to 50% of the combined value of the executive's target bonus and target LTIP awards, with a 15% reduction to LTIP award values. The retention award will generally be paid in quarterly installments on each of March 31, 2024, June 30, 2024, Sept. 30, 2024, and Dec. 31, 2024, subject to continued employment. If the executive is terminated without cause, resigns for good reason, or incurs a death or disability, in each case during the 2024 calendar year, the executive will receive any unpaid installments of the retention award; other termination events will result in forfeiture or clawback, as applicable. The incentive program will provide each executive with a target award equal to 50% of the combined value of the executive's target bonus and target LTIP award, with a 15% reduction to LTIP award values. The incentive award will generally be paid in quarterly installments, subject to the satisfaction of performance measures pre-determined for each individual calendar quarter. Quarterly performance measures must be met at threshold levels to be paid at 50% of the target, with a maximum of 200% of target payable for each quarter. If the executive is terminated without cause, resigns for good reason, or incurs a death or disability, in each case from Jan. 1, 2024 until all installments of the incentive award have been paid, the executive will receive any unpaid installments of the incentive award for quarters begun or completed (including the installment applicable to the quarter in which the termination occurred); other termination events will result in forfeiture or clawback, as applicable. About Enviva Enviva Inc. (NYSE: EVA) is a producer of industrial wood pellets, a renewable and sustainable energy source produced by aggregating a natural resource, wood fiber, and processing it into a transportable form, wood pellets. Enviva owns and operates ten plants with an expected annual production of approximately 5.0 million metric tons in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi, and is constructing its 11th plant in Epes, Alabama. Additionally, Enviva is planning construction of its 12th plant, near Bond, Mississippi. Enviva sells most of its wood pellets through long-term, take-or-pay off-take contracts with customers located primarily in the United Kingdom, the European Union, and Japan, helping to accelerate the energy transition and to defossilize hard-to-abate sectors like steel, cement, lime, chemicals, and aviation. Enviva reported a net loss of $168.37 million in 2022, a net loss of $145.27 million in 2021, and a net loss of $106.32 million in 2020. In its Quarterly Report for the period ended Sept. 30, 2023, Enviva said that it has incurred net losses of $257.8 million and $168.4 million for the nine months ended September 30, 2023 and the year ended December 31, 2022, respectively, and negative cash flow from operating activities of $25.6 million and $88.8 million, respectively for the same periods. As of September 30, 2023, the Company had $315.2 million in cash and cash equivalents, $125.5 million of restricted cash, and no availability under its revolving credit facility, resulting in total liquidity of $440.7 million. The Company's future profitability and liquidity are expected to be negatively impacted by the following matters which have resulted in substantial doubt about its ability to continue as a going concern. ETHEMA HEALTH: Eileen Greene Has 8.7MM Common Shares as of Dec. 22 ------------------------------------------------------------------ Eileen Maria Greene, the wife of Ethema Health Corporation's chief executive officer, filed a Form 3 Report with the Securities and Exchange Commission, disclosing direct beneficial ownership of 8,677,042 shares of the company's common stock as of December 22, 2023. Additionally, Ms. Greene owns Series A Preferred Stock convertible to 40,000,000 shares of common stock. A copy of the regulatory filing is available at: http://www.sec.gov/Archives/edgar/data/792935/0001903596-23-000968-index.htm About Ethema Health Headquartered in West Palm Beach, Florida, Ethema Health Corporation -- http://www.ethemahealth.com-- operates in the behavioral healthcare space specifically in the treatment of substance use disorders. Boca Raton, Florida-based Daszkal Bolton LLP, the Company's auditor since 2018, issued a "going concern" qualification in its report dated March 31, 2023, citing that the Company has accumulated deficit of approximately $43.5 million and negative working capital of approximately $12.7 million at Dec. 31, 2022, which raises substantial doubt about its ability to continue as a going concern. FANJOY CO: Court Approves Disclosure Statement ---------------------------------------------- Judge Paul W. Bonapfel has entered an order approving the Disclosure Statement of Fanjoy Co. A hearing to consider confirmation of the Plan and to determine the value of collateral and extent to which claims are secured pursuant to 11 U.S.C s 506(a) and Rule 3012 will be held at 10:00 a.m. on the 22nd day of Jan., 2024, in Courtroom 1401, U.S. Courthouse, 75 Ted Turner Drive, SW, Atlanta, GA 30303, and will continue on Jan. 23, 2024, commencing at 10:00 a.m. The deadline for filing and serving objections to the Plan and casting ballots to accept or reject the Plan will be Jan. 12, 2024. The deadline for any party to an Executory Contract with Debtor that wishes to dispute the Cure Amount provided in Class 6 or Class 7 of the Plan to file a written objection to such amount and serve such Cure Objection so that it received by the Debtor, counsel for the Debtor, the Subchapter V Trustee, and the United States Trustee shall be Jan. 12, 2024. About Fanjoy Co. Fanjoy Co. has been operating since 2014 and was incorporated in Delaware in 2014 to provide platform and merchandise marketplace services to social media content creators. Fanjoy operates the fanjoy.co website, which provides end-to-end design, production, fulfillment, customer support, e-mail marketing, photoshoots, product shots, and paid advertisement services for its Content Creators. The business is operated by the Debtor's principal, Christopher Vaccarino, out of his residence in Brookhaven, Georgia. Fanjoy Co. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 23-57565) on Aug. 8, 2023, with up to $500,000 in assets and up to $10 million in liabilities. Christopher Vaccarino, president, signed the petition. Judge Paul W. Bonapfel oversees the case. Leslie Pineyro, Esq., at Jones and Walden, LLC, is the Debtor's legal counsel. FARADAY FUTURE: Sells One Share of Preferred Stock to CEO for $100 ------------------------------------------------------------------ Faraday Future Intelligent Electric Inc. disclosed in a Form 8-K filed with the Securities and Exchange Commission that it entered into a purchase agreement with Matthias Aydt, the global chief executive officer of the Company, pursuant to which the Company agreed to issue and sell one share of the Company's newly designated Series A Preferred Stock, par value $0.0001 per share, to the Purchaser for a purchase price of $100.00. The closing of the sale and purchase of the share of Series A Preferred Stock was completed on Dec. 21, 2023. Pursuant to the Purchase Agreement, the Purchaser has agreed to cast the votes represented by the share of Series A Preferred Stock on the Shareholder Proposals in the same proportion as shares of common stock of the Company are voted (excluding any shares of Common Stock that are not voted, whether due to abstentions, broker non-votes or otherwise) on each Shareholder Proposal; provided, that unless and until at least one-third of the outstanding shares of Common Stock on the record date established for the meeting of stockholders at which the Shareholder Proposals are presented are present in person or represented by proxy at such meeting, the Purchaser will not vote the share of Series A Preferred Stock on the Shareholder Proposals. A "Shareholder Proposal" means each of the Share Authorization Proposal and the Reverse Stock Split Proposal and, together, the "Shareholder Proposals", "Share Authorization Proposal" means any proposal approved by the Company's Board of Directors and submitted to the stockholders of the Company to adopt an amendment to the Company's Third Amended and Restated Certificate of Incorporation to increase the number of authorized shares of Class A Common Stock and Class B Common Stock, increasing the total number of shares of Common Stock, and "Reverse Stock Split Proposal" means any proposal approved by the Board and submitted to the stockholders of the Company to adopt an amendment, or a series of alternate amendments, to the Company's Third Amended and Restated Certificate of Incorporation to combine the outstanding shares of Common Stock into a smaller number of shares of Common Stock at a ratio specified in or determined in accordance with the terms of such amendment or series of alternate amendments, and to reduce the number of outstanding shares of Common Stock and effect a corresponding reduction in the total number of authorized shares of Common Stock. On Dec. 21, 2023, in connection with the Purchase Agreement, the Company filed a Certificate of Designation of Preferences, Rights and Limitations of Series A Preferred Stock with the Secretary of State of the State of Delaware. The Series A Certificate of Designation designates one share of the Company's preferred stock as Series A Preferred Stock, and establishes and designates the preferences, rights and limitations thereof. The Series A Certificate of Designation became effective upon filing. Pursuant to the Series A Certificate of Designation: Convertibility. The share of Series A Preferred Stock is not convertible into, or exchangeable for, shares of any other class or series of stock or other securities of the Company. Dividends. The share of Series A Preferred Stock shall not be entitled to receive dividends. Voting. The share of Series A Preferred Stock will have 4,500,000,000 votes, but has the right to vote only on the Shareholder Proposals and until such time as the Shareholder Proposals are approved by the stockholders, and will have no voting rights except (i) with respect to the Shareholder Proposals in which its votes are cast for and against such Shareholder Proposal in the same proportion as shares of Common Stock are voted for and against such Shareholder Proposal (with any shares of Common Stock that are not voted, whether due to abstentions, broker non-votes or otherwise not counted as votes for or against the Shareholder Proposal) and (ii) unless the holders of one-third (1/3rd) of the outstanding shares of Common Stock are present, in person or by proxy, at the meeting of stockholders at which the Shareholder Proposals are submitted for stockholder approval (or any adjournment thereof). The share of Series A Preferred Stock will vote together with the Common Stock as a single class on any Shareholder Proposal. The Series A Preferred Stock has no other voting rights, except as may be required by the General Corporation Law of the State of Delaware. Rank; Liquidation. Upon a liquidation, bankruptcy, reorganization, merger, acquisition, sale, dissolution or winding up of the Company, whether voluntarily or involuntarily, pursuant to which assets of the Company or consideration received by the Company are to be distributed to the stockholders, the holder of Series A Preferred Stock will be entitled to receive, before any payment is made to the holders of Common Stock by reason of their ownership thereof, an amount equal to $100.00. Transfer Restrictions. The Series A Preferred Stock may not be transferred at any time prior to stockholder approval of the Shareholder Proposals without the prior written consent of the Board. Redemption. The outstanding share of Series A Preferred Stock will be redeemed in whole, but not in part, for a redemption price of $100.00, payable out of funds lawfully available therefor, upon the earlier of (i) any time such redemption is ordered by the Company's Board in its sole discretion, automatically and effective on such time and date specified by the Board in its sole discretion, or (ii) automatically immediately following the approval by the stockholders of the Company of both Shareholder Proposals. As of Dec. 21, 2023, the Company had 126,426,770 shares of Class A Common Stock, 800,008 shares of Class B Common Stock and one share of Series A Preferred Stock issued and outstanding. About Faraday Future Los Angeles, CA-based Faraday Future (NASDAQ: FFIE) -- http://www.ff.com-- designs and engineers next-generation intelligent, connected, electric vehicles. FF intends to start manufacturing vehicles at its production facility in Hanford, California, with additional future production capacity needs addressed through a contract manufacturing partner in South Korea. FF is also exploring other potential contract manufacturing options in addition to the contract manufacturer in South Korea. The Company has additional engineering, sales, and operational capabilities in China and is exploring opportunities for potential manufacturing capabilities in China through a joint venture or other arrangement. Faraday Future reported a net loss of $552.07 million for the year ended Dec. 31, 2022, a net loss of $516.50 million for the year ended Dec. 31, 2021, compared to a net loss of $147.08 million for the year ended Dec. 31, 2020. New York, NY-based Mazars USA LLP, the Company's auditor since 2022, issued a "going concern" qualification in its report dated March 9, 2023, citing that the Company has incurred operating losses since inception, has continued cash outflows from operating activities, and has an accumulated deficit. These conditions raise substantial doubt about its ability to continue as a going concern. FRANCISCAN FRIARS: Voluntary Chapter 11 Case Summary ---------------------------------------------------- Debtor: Franciscan Friars of California, Inc. 1500 34th Avenue Oakland, CA 94601 Business Description: The Debtor is a tax-exempt religious organization. The Debtor was formed to provide religious, charitable, and educational acts, ministry, and service to the poor. Chapter 11 Petition Date: December 31, 2023 Court: United States Bankruptcy Court Northern District of California Case No.: 23-41723 Judge: Hon. William J Lafferty Debtor's Counsel: Robert G. Harris, Esq. BINDER & MALTER, LLP 2775 Park Avenue Santa Clara, CA 95050 Tel: (408) 295-1700 Email: Rob@bindermalter.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $10 million to $50 million The petition was signed by David Gaa, OFM, president of the Debtor. A copy of the Debtor's list of 20 largest unsecured creditors is now available for download at PacerMonitor.com. A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/5JKWEEI/Franciscan_Friars_of_California__canbke-23-41723__0001.0.pdf?mcid=tGE4TAMA FREEDOM PLUMBERS: Seeks to Hire Lucove Say & Co as Accountant ------------------------------------------------------------- Freedom Plumbers Corporation seeks approval from the U.S. Bankruptcy Court for the Eastern District of Virginia to hire Lucove, Say & Co. as its accountants. The firm's services include: a. overseeing the preparation of the Monthly Operating Reports; b. preparing cash collateral projections; c. preparing plan projections; d. reviewing the Debtor’s financial status and determining those accounting and financial changes that may be appropriate and necessary; e. preparing tax returns, handling any tax audit; and f. rendering other accountancy services for the Debtor for which services of an accountant may be necessary during the case. The Debtor proposes to pay a retainer of $2,500. The firm will be paid at these rates: Richard Say, CPA $300/hour Cameron Say, CPA $175/hour Lucove, Say & Co. does not hold nor represent any interest adverse to the Debtor or its estate, according to court filings. The firm can be reached through: Richard Say, CPA Lucove, Say & Co. 23901 Calabasas Road, Suite 2085 Calabasas, CA 91302 Telephone: (818) 224-4411 (888) 223-8900 Facsimile: (818) 225-7054 Email: RSay@Lucovesay.com About Freedom Plumbers Freedom Plumbers Corporation filed a Chapter 11 petition (Bankr. E.D. Va. Case No. 23-11654) on Oct. 12, 2023, with $500,001 to $1 million in both assets and liabilities. The Debtor tapped Steven R. Fox, Esq., at The Fox Law Corporation, Inc. as lead bankruptcy counsel and RoganMillerZimmerman, PLLC as local counsel. GAMBOA INC: Joseph DiOrio Named Subchapter V Trustee ---------------------------------------------------- The U.S. Trustee for Region 1 appointed Joseph DiOrio, Esq., at Pannone Lopes Devereaux & O'Gara LLC as Subchapter V trustee for Gamboa, Inc. Mr. DiOrio will be paid an hourly fee of $475 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. DiOrio declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Joseph M. DiOrio, Esq. Pannone Lopes Devereaux & O'Gara LLC 1301 Atwood Avenue Suite 215 N Johnston, RI 02919 Phone: 401-824-5100 Email: jdiorio@pldolaw.com About Gamboa Inc. Gamboa, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. R.I. Case No. 23-10783) on December 19, 2023, with up to $50,000 in assets and $100,001 to $500,000 in liabilities. Judge Diane Finkle oversees the case. Thomas P. Quinn, Esq., at Mclaughlinquinn, LLC represents the Debtor as legal counsel. GARAGE BUILDERS: Seeks to Hire McCallop Law as Tax Professional --------------------------------------------------------------- Garage Builders of Raleigh, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina to employ Melissa McCallop of McCallop Law, PLLC as its tax professional. The firm will render these services: a. assist the Debtor with preparing its federal and state tax returns and monthly, quarterly, and annual tax reports; and b. perform any other accounting services needed by the Debtor as part of the bankruptcy proceedings. Ms. McCallop's hourly rate is $175 per hour for tax preparation and bookkeeping services. Melissa McCallop, tax attorney with McCallop Law assured the court that her firm is a "disinterested person" within the meaning of 11 U.S.C. 101(14). The firm can be reached through: Melissa McCallop, Esq. McCallop Law, PLLC 5711 Six Forks Rd. Suite 106 Raleigh, NC 27617 Phone: (919) 578-1661 Email: info@mccalloplaw.com About Garage Builders of Raleigh, Inc. Garage Builders of Raleigh, Inc., filed a Chapter 11 bankruptcy petition (Bankr. E.D.N.C. Case No. 23-02416) on August 22, 2023, disclosing under $1 million in both assets and liabilities. The Debtor is represented by Stevens Martin Vaughn & Tadych, PLLC. GLOBAL DWELLING: Jolene Wee of Named Subchapter V Trustee --------------------------------------------------------- The U.S. Trustee for Region 2 appointed Jolene Wee of JW Infinity Consulting, LLC as Subchapter V trustee for Global Dwelling, LLC. Ms. Wee will be compensated at $595 per hour for her services as Subchapter V trustee for 2023 and $615 per hour for work performed in 2024. In addition, the Subchapter V trustee will receive reimbursement for work-related expenses incurred. Ms. Wee declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Jolene E. Wee JW Infinity Consulting, LLC 447 Broadway 2nd Fl #502 New York, NY 10013 Email: jwee@jw-infinity.com Phone: (929) 502-7715 Fax: (646) 810-3989 Email: jwee@jw-infinity.com About Global Dwelling Global Dwelling, LLC operates as a sales and marketing firm of home services and products such as roofing, insulation and waterproofing. The company is located in High Falls (Ulster County), N.Y. Global Dwelling filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. N.Y. Case No. 23-36040) on December 20, 2023, with up to $500,000 in assets and up to $1 million in liabilities. John Kotsides, managing member, signed the petition. Judge Cecelia G. Morris oversees the case. Michelle L. Trier, Esq., at Genova, Malin & Trier, LLP, represents the Debtor as legal counsel. GLOBAL VALUES: Seeks to Hire Stone & Baxter as Legal Counsel ------------------------------------------------------------ Global Values, Inc. and Global Values VT, LLC seek approval from the U.S. Bankruptcy Court for the Middle District of Florida to hire Stone & Baxter, LLP as their counsel. The Debtor requires legal counsel to: (a) give advice regarding the powers and duties of the Debtor in the continued operation of the business and management of the Debtor; (b) prepare legal papers; (c) continue existing litigation, if any, to which the Debtor may be a party and conduct examinations incidental to the administration of its estate; (d) take any and all necessary actions for the proper preservation and administration of the Debtor's estate; (e) assist the Debtor with the preparation and filing of its statement of financial affairs and schedules and lists as are appropriate; (f) take whatever actions are necessary with reference to the use by the Debtor of its property pledged as collateral and to preserve the same for the benefit of the Debtor and secured creditors; (g) assert, as directed by the Debtor, all claims the Debtor has against others; (h) assist the Debtor in connection with claims for taxes made by governmental units; (i) assist the Debtor in preparation of its Plan of Reorganization and confirmation thereto; and (j) perform all other legal services for the Debtor as it may deem necessary. The hourly rates of the firm's counsel and staff are as follows: Attorneys $200 - $500 Paralegals/Research Assistants $135 In addition, the firm will seek reimbursement for expenses. David Bury, Jr., Esq., a partner at Stone & Baxter, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: David L. Bury, Jr., Esq. G. Daniel Taylor, Esq. Stone & Baxter, LLP 577 Mulberry Street, Suite 800 Macon, GA 31201 Telephone: (478) 750-9898 Facsimile: (478) 750-9899 Email: dbury@stoneandbaxter.com dtaylor@stoneandbaxter.com About Global Values, Inc. Global Values, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Ga. Case No. 23-30612) on Dec. 4, 2023. The petition was signed by Anand S. Anandan as president. At the time of filing, the Debtor estimated $10 million to $50 million in both assets and liabilities. David L. Bury, Jr., Esq. at STONE & BAXTER, LLP represents the Debtor as counsel. GROM SOCIAL: Closes $4 Million Private Placement ------------------------------------------------ Grom Social Enterprises, Inc. announced the first closing of its previously announced private placement of a convertible promissory note with an initial principal amount of $4,000,000. The Notes are being issued pursuant to the securities purchase agreement, dated as of Nov. 9, 2023 (as amended) with a single institutional investor. In connection with the purchase and sale of the Notes, the Company has agreed to issue to the Investor, warrants to acquire a total of 1,514,072 shares of Common Stock consisting of (1) 757,036 shares of Common Stock with an exercise price of $1.78 per share of Common Stock and (ii) 757,036 shares of Common Stock with an exercise price of $.001 per share of Common Stock. The Company intends to use the net proceeds from the private placement for general working capital and administrative purposes. EF Hutton LLC acted as exclusive placement agent for the offering. The shares of common stock and warrants described above have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (SEC) or an applicable exemption from such registration requirements. The securities were offered only to accredited investors. Pursuant to a registration rights agreement with the investors, the Company has agreed to file one or more registration statements with the SEC covering the resale of the shares of common stock and the shares issuable upon exercise of the pre-funded warrants and warrants. About Grom Social Enterprises Inc. Boca Raton, Florida-based Grom Social Enterprises, Inc. -- www.gromsocial.com -- is a media, technology and entertainment company that focuses on (i) delivering content to children under the age of 13 years in a safe secure platform that is compliant with the Children's Online Privacy Protection Act ("COPPA") and can be monitored by parents or guardians, (ii) creating, acquiring, and developing the commercial potential of Kids & Family entertainment properties and associated business opportunities, (iii) providing world class animation services, and (iv) offering protective web filtering solutions to block unwanted or inappropriate content. Grom Social reported a net loss of $16.77 million for the year ended Dec. 31, 2022, compared to a net loss of $10.22 million forthe year ended Dec. 31, 2021. Somerset, New Jersey-based Rosenberg Rich Baker Berman, P.A., the Company's auditor since 2022, issued a "going concern" qualification in its report dated April 17, 2023, citing that the Company's significant operating losses and negative cash flows from operations raise substantial doubt about its ability to continue as a going concern. GROM SOCIAL: Registers 6.86M Shares for Potential Resale -------------------------------------------------------- Grom Social Enterprises, Inc. filed a Form S-1 registration statement with the Securities and Exchange Commission relating to the offer and resale, from time to time, of up to an aggregate of 6,861,666 shares of its common stock, par value $0.001 per share, consisting of: (i) 5,347,594 shares of common stock issuable upon the conversion of a convertible promissory note of the Company, having an initial principal amount of $4,000,000, sold in a private placement offering pursuant to a securities purchase agreement, dated Nov. 9, 2023 and as amended Nov. 20, 2023, entered into by and between the Company and Generating Alpha Ltd., the purchaser named therein; and (ii) (a) 757,036 shares of common stock issuable upon the exercise of 757,036 warrants at an exercise price of $1.78 per share of common stock issued in the Offering to the Selling Stockholder; and (b) 757,036 shares of common stock issuable upon the exercise of 757,036 warrants at an exercise price of $0.001 per share of common stock issued in the Offering to the Selling Stockholder. The Company is not selling any securities under this prospectus and it will not receive proceeds from the sale of the shares of its common stock by the Selling Stockholder. However, the Company may receive proceeds from the cash exercise of the Warrants, which if exercised in cash at the current exercise price with respect to all Warrants, would result in gross proceeds to the Company of approximately $1.3 million. The Company will pay the expenses of registering the shares of common stock offered by this prospectus, but all selling and other expenses incurred by the Selling Stockholder will be paid by the Selling Stockholder. The Selling Stockholder may sell the Company's shares of common stock offered by this prospectus from time to time on terms to be determined at the time of sale through ordinary brokerage transactions or through any other means described in this prospectus under "Plan of Distribution." The prices at which the Selling Stockholder may sell shares will be determined by the prevailing market price for the Company's common stock or in negotiated transactions. The Company's common stock is quoted on The Nasdaq Capital Market, or Nasdaq, under the symbol "GROM." On Dec. 26, 2023, the last reported sale price for the Company's common stock on Nasdaq was $1.12 per share. A full-text copy of the prospectus is available for free at: https://www.sec.gov/ix?doc=/Archives/edgar/data/1662574/000168316823009097/grom_s1.htm About Grom Social Enterprises Inc. Boca Raton, Florida-based Grom Social Enterprises, Inc. -- www.gromsocial.com -- is a media, technology and entertainment company that focuses on (i) delivering content to children under the age of 13 years in a safe secure platform that is compliant with the Children's Online Privacy Protection Act ("COPPA") and can be monitored by parents or guardians, (ii) creating, acquiring, and developing the commercial potential of Kids & Family entertainment properties and associated business opportunities, (iii) providing world class animation services, and (iv) offering protective web filtering solutions to block unwanted or inappropriate content. Grom Social reported a net loss of $16.77 million for the year ended Dec. 31, 2022, compared to a net loss of $10.22 million forthe year ended Dec. 31, 2021. Somerset, New Jersey-based Rosenberg Rich Baker Berman, P.A., the Company's auditor since 2022, issued a "going concern" qualification in its report dated April 17, 2023, citing that the Company's significant operating losses and negative cash flows from operations raise substantial doubt about its ability to continue as a going concern. GUY B. HENDRIX: Seeks to Hire Craig M. Geno as Bankruptcy Counsel ----------------------------------------------------------------- Guy B. Hendrix, Sr. Revocable Living Trust seeks approval from the U.S. Bankruptcy Court for the Northern District of Mississippi to hire the Law Offices of Craig M. Geno, PLLC as its counsel. The firm's services include: a. advising and consulting with the Debtor regarding questions arising from certain contract negotiations during the operation of the Debtor's business; b. evaluating and objecting to claims of various creditors who may assert security interests in the assets and who may seek to disturb the continued operation of the business; c. appearing in, prosecuting, or defending suits and proceedings, and taking all necessary steps and other matters involved in or connected with the affairs of the estate of the Debtor; d. representing the Debtor in court hearings and assisting in the preparation of legal documents; e. advising and consulting with the Debtor in connection with any proposed Chapter 11 reorganization plan; and f. providing other necessary legal services. The Law Offices of Craig M. Geno will be paid at these rates: Craig M. Geno $450 per hour Associates $275 per hour Paralegals $225 per hour The firm received a retainer in the amount of $9,238, which includes $1,738 filing fee. Craig Geno, Esq., an attorney at the Law Offices of Craig M. Geno, disclosed in a court filing that his firm is a "disinterested person" pursuant to Section 101(14) of the Bankruptcy Code. The firm can be reached through: Craig M. Geno, Esq. LAW OFFICES OF CRAIG M. GENO, PLLC 587 Highland Colony Parkway Ridgeland, MS 39157 Tel: (601) 427-0048 Fax: (601) 427-0050 Email: cmgeno@cmgenolaw.com About Guy B. Hendrix, Sr. Revocable Living Trust Guy B. Hendrix, Sr. Revocable Living Trust filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Miss. Case No. 23-13664) on Nov. 30, 2023. The petition was signed by Guy Hendrix as trustee. At the time of filing, the Debtor estimated $1 million to $10 million in both assets and liabilities. Craig M. Geno, Esq. of the LAW OFFICES OF CRAIG M. GENO, PLLC represents the Debtor as counsel. HAVRE EAGLES: Debtor Will Liquidate to Pay Claims in Plan --------------------------------------------------------- Havre Eagles Manor submitted an Amended Plan of Liquidation, dated Dec. 22, 2023. Under the Plan, Class III Unsecured Claims are impaired with the following creditors: Ramona Witt - $12,000 US Bank - $4,413 (proof of claim - $4,974.52) Internal Revenue Service - $18.45 NCP East, LLC - $276,625.01 The real and personal property ("Property") will be sold to pay claims as set forth below. The Property will be listed for sale until August 31, 2025. In the event the property is not sold by August 31, 2025, Debtor will hire an auctioneer agreeable to the secured creditors and auction the property in accordance with their guidelines. Auction shall take place no later than May 15, 2026, or sooner upon advice of auctioneer. By listing with Kevin Wetherell and Clearwater Montana Properties, the property will be greatly exposed to the market. There is a shortage of these types of properties. The past listing was an exclusive agency listing and that agency did not cooperate with other agencies. The property was not exposed to the market, only their agents. Also, it was listed with no asking price. Clearwater Montana Properties will have an exclusive listing and the property will be exposed to the market for the first time. The property is in the best condition it ever has been, is full, and has a waiting list. In the event the property sells, the proceeds will go first to pay costs of sale (including Realtor fees and costs of closing), then to any property taxes due, then to Harmon Properties, LLC and then to NCP East, LLC to pay their allowed amounts in full, then to administrative claims, then to priority claims, and then to unsecured allowed claims pro rata. If the property does not sale, or does not sale for enough money to pay all creditors in full as set forth herein, then those remaining creditors will not receive any monies from the sale, but will be paid pro rata from any net monies received as a result of the action against Tamarack Property Management Co. and any other, to be named, defendants. In the event the property fails to sell for enough to pay the secured creditors in full, any remaining amount shall be treated as a general unsecured claim and paid as set forth in Class III. In the event the personal property is not liened, it shall be sold for the benefit of Class III. Debtor specifically reserves the right to object to creditors' claims. Payments to all Classes shall be made as set forth above after confirmation. Payments may be adjusted to reflect the actual interest earned from time of confirmation. Creditors shall retain their liens on their collateral except as set forth herein. Attorney for Debtor: Gary S. Deschenes, Esq. DESCHENES & ASSOCIATES LAW OFFICES 309 First Avenue North P.O. Box 3466 Great Falls MT 59403-3466 Tel: (406) 761-6112 E-mail: gsd@dalawmt.com A copy of the Amended Plan of Liquidation dated Dec. 22, 2023, is available at https://tinyurl.ph/srHrE from PacerMonitor.com. About Havre Eagles Manor Havre Eagles Manor is engaged in the business of operating an adult independent living facility in Havre, Hill County, Montana. On June 20, 2023, Havre Eagles Manor commenced a voluntary reorganization proceeding by the filing of a voluntary petition under Chapter 11 of the United States Bankruptcy Code (Bankr. D. Mont. Case No. 23-40044). The Debtor is represented by Gary S. Deschenes, Esq. HENDRIX FARMING: Seeks to Tap Craig M. Geno as Bankruptcy Counsel ----------------------------------------------------------------- Hendrix Farming, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Mississippi to hire the Law Offices of Craig M. Geno, PLLC as its counsel. The firm's services include: a. advising and consulting with the Debtor regarding questions arising from certain contract negotiations during the operation of the Debtor's business; b. evaluating and objecting to claims of various creditors who may assert security interests in the assets and who may seek to disturb the continued operation of the business; c. appearing in, prosecuting, or defending suits and proceedings, and taking all necessary steps and other matters involved in or connected with the affairs of the estate of the Debtor; d. representing the Debtor in court hearings and assisting in the preparation of legal documents; e. advising and consulting with the Debtor in connection with any proposed Chapter 11 reorganization plan; and f. providing other necessary legal services. The Law Offices of Craig M. Geno will be paid at these rates: Craig M. Geno $450 per hour Associates $275 per hour Paralegals $225 per hour The firm received a retainer in the amount of $15,000. Craig Geno, Esq., an attorney at the Law Offices of Craig M. Geno, disclosed in a court filing that his firm is a "disinterested person" pursuant to Section 101(14) of the Bankruptcy Code. The firm can be reached through: Craig M. Geno, Esq. LAW OFFICES OF CRAIG M. GENO, PLLC 587 Highland Colony Parkway Ridgeland, MS 39157 Tel: (601) 427-0048 Fax: (601) 427-0050 Email: cmgeno@cmgenolaw.com About Hendrix Farming Hendrix Farming, LLC, a company in Holy Springs, Miss., filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Miss. Case No. 23-13663) on Nov. 30, 2023, with $1 million to $10 million in both assets and liabilities. Guy Hendrix, member, signed the petition. Craig M. Geno, Esq., at the Law Offices of Craig M. Geno, PLLC represents the Debtor as bankruptcy counsel. HEYWOOD HEALTHCARE: Taps Houlihan Lokey as Financial Advisor ------------------------------------------------------------ Heywood Healthcare, Inc. and its affiliate seek approval from the U.S. Bankruptcy Court for the District of Massachusetts to employ Houlihan Lokey Capital, Inc. as their financial advisor and investment banker. The firm's services include: (a) assisting the Debtors in the development and distribution of selected information, documents and other materials, including, if appropriate, advising the Debtors in the preparation of an offering memorandum; (b) assisting the Debtors in evaluating indications of interest and proposals regarding any Transactions from current and/or potential lenders, equity investors, acquirers and/or strategic partners; (c) assisting the Debtors with the negotiation of any Transactions, including participating in negotiations with creditors and other parties involved in any Transactions; (d) providing expert advice and testimony regarding financial matters related to any Transactions; (e) attending meetings of the Debtors' Boards of Directors, creditor groups, official constituencies and other interested parties, as the Debtors and Houlihan Lokey mutually agree; and (f) providing such other financial advisory and investment banking services as may be agreed upon by Houlihan Lokey and the Debtors. The firm will be paid as follows: (i) Monthly Fees: In addition to the other fees provided for in the Engagement Agreement, upon the execution of the Engagement Agreement and on the first Friday that is a Business Day of each month thereafter, commencing with Jan 5, 2024, during the term of the Engagement Agreement, (a) the Debtors shall pay Houlihan Lokey in advance, without notice or invoice, a nonrefundable cash fee of $50,000 (the "Monthly Cash Fee") and (b) Houlihan Lokey shall accrue an additional fee of $50,000 (the "Monthly Accrued Fee," and collectively with the Monthly Cash Fee, the "Monthly Fee") payable upon the earlier of (I) the next Transaction that gives rise to a Transaction Fee under the terms of the Engagement Agreement and (II) the termination of the Engagement Agreement. Each Monthly Fee shall be earned upon Houlihan Lokey’s receipt thereof in consideration of Houlihan Lokey accepting this engagement and performing services as described in the Engagement Agreement; and (ii) Transaction Fee(s): In addition to the other fees provided for in the Engagement Agreement, the Debtors shall pay Houlihan Lokey the following transaction fee(s) (each of which is a "Transaction Fee" and which are collectively referred to herein as the "Transaction Fees"): (a) Restructuring Transaction Fee. Upon the effective date of a confirmed plan of reorganization or liquidation under the Bankruptcy Code, Houlihan Lokey shall earn, and the Debtors shall promptly pay to Houlihan Lokey, a cash fee ("Restructuring Transaction Fee") of $1,500,000; (b) Sale Transaction Fee. Upon the closing of the Sale Transaction, Houlihan Lokey shall earn, and the Debtors shall thereupon pay to Houlihan Lokey immediately and directly from the gross proceeds of such Sale Transaction, as a cost of such Sale Transaction, a cash fee ("Sale Transaction Fee") based upon Aggregate Gross Consideration ("AGC"), calculated as follows: a. For AGC up to $60 million: $1,500,000 (the "Base Fee"), plus b. For AGC from $60 million to $71 million: 3 percent of such incremental AGC, plus c. For AGC in excess of $71 million: 5 percent of such incremental AGC. If more than one Sale Transaction is consummated, Houlihan Lokey shall be compensated with a Base Fee for the second and any subsequent transaction of $250,000, plus fees based on the AGC from all Sale Transactions calculated in the manner set forth above. (c) Financing Transaction Fee. For any Financing Transaction, except the portion of any proceeds raised pursuant to a Government Financing, upon the closing of each Financing Transaction, Houlihan Lokey shall earn, and the Debtors shall thereupon pay to Houlihan Lokey immediately and directly from the gross proceeds of such Financing Transaction, as a cost of such Financing Transaction, a cash fee ("Financing Transaction Fee") equal to the sum of: (I) 2 percent of the gross proceeds of any indebtedness raised or committed that is senior to other indebtedness of the Debtors, secured by a first priority lien and unsubordinated, with respect to both lien priority and payment, to any other obligations of the Debtors (including with respect to debtor-in-possession financing, other than any debtor-in-possession financing provided exclusively by the Debtors’ existing lenders or bondholders as of the Effective Date), and (II) 4 percent of the gross proceeds of any indebtedness raised or committed that is secured by a lien (other than a first lien), is unsecured and/or is subordinated. It is understood and agreed that if the proceeds of any such Financing Transaction are to be funded in more than one stage, Houlihan Lokey shall be entitled to its applicable compensation hereunder upon the closing date of each stage. The Financing Transaction Fee(s) shall be payable in respect of any sale of securities whether such sale has been arranged by Houlihan Lokey, by another agent or directly by the Debtors or any of its affiliates. Any non-cash consideration provided to or received in connection with the Financing Transaction (including but not limited to intellectual or intangible property) shall be valued for purposes of calculating the Financing Transaction Fee as equaling the number of Securities issued in exchange for such consideration multiplied by (in the case of debt securities) the face value of each such Security. The fees set forth in the Engagement Agreement shall be in addition to any other fees that the Debtor may be required to pay to any investor or other purchaser of Securities to secure its financing commitment. Notwithstanding anything to the contrary in the Engagement Agreement, for any advances, grants, loans, financing or other funding provided by (i) the Commonwealth of Massachusetts, the Centers for Medicare and Medicaid Services (or their fiscal intermediaries), any other department of the United States, or any payors (each such advance, grant, loan, financing or other funding, a "Government Financing") or (ii) the Debtors’ existing lenders or bondholders as of the Effective Date (the "Incumbent Lenders"), Houlihan Lokey shall not receive a Financing Transaction Fee for the portion of the Financing Transaction attributable to the Government Financing or the Incumbent Lenders unless the Debtors have provided written instructions to Houlihan to pursue a Financing Transaction through a comprehensive outreach to third-parties other than those parties listed in the definitions of Government Financing and Incumbent Lenders. The Debtors shall advise Houlihan Lokey whether it intends to pursue a Government Financing in whole or part and Houlihan Lokey shall be relieved of its obligation to pursue a Financing Transaction to the extent the Government Financing eliminates the need for a Financing Transaction (as mutually determined by the Debtors and Houlihan Lokey). (d) Credit for Monthly Cash Fee(s) After 6 Months. Any Monthly Cash Fees in excess of $300,000 previously paid to Houlihan Lokey shall be credited against the next Transaction Fee that otherwise becomes due under the terms of the Engagement Agreement (it being understood and agreed that no Monthly Cash Fee shall be credited more than once and that, in no event, shall such Transaction Fee be reduced below zero). The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Andrew Turnbull, a managing director at Houlihan Lokey Capital, Inc., disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Andrew Turnbull Houlihan Lokey Capital, Inc. 111 South Wacker Dr., 37th Fl. Chicago, IL 60606 Tel: (312) 456-4700 Fax: (312) 346-0951 About Heywood Healthcare, Inc. Heywood Healthcare, Inc. is a non-profit community-owned hospital in Gardner, Mass. Heywood Healthcare and its affiliates filed Chapter 11 petitions (Bankr. D. Mass. Lead Case No. 23-40817) on Oct. 1, 2023. In the petition signed by its chief executive officer, Thomas Sullivan, Heywood Healthcare disclosed up to $500,000 in assets and up to $50,000 in liabilities. Judge Elizabeth D. Katz oversees the cases. John M. Flick, Esq., at Flick Law Group, PC represents the Debtors as counsel. The U.S. Trustee for Region 1 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee tapped Dentons Bingham Greenebaum, LLP and Dentons US, LLP as its legal counsel. HOLDINGS OF SOUTH: Case Summary & 19 Unsecured Creditors -------------------------------------------------------- Debtor: Holdings of South Florida Inc. d/b/a Automac & Automatc 2 552 Cassat Avenue Jacksonville, FL 32254 Chapter 11 Petition Date: January 2, 2024 Court: United States Bankruptcy Court Middle District of Florida Case No.: 24-00003 Judge: Hon. Jacob A. Brown Debtor's Counsel: Thomas Adam, Esq. THOMAS ADAM 2258 Riverside Ave Jacksonville, FL 32204 Email: tadam@adamlawgroup.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by John Romberg as owner. A full-text copy of the petition containing, among other items, a list of the Debtor's 19 unsecured creditors is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/WITASAA/Holdings_of_South_Florida_Inc__flmbke-24-00003__0001.0.pdf?mcid=tGE4TAMA HOWARD INTERVENTION: Hires Gregory K. Stern P.C. as Legal Counsel ----------------------------------------------------------------- Howard Intervention Center, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to hire Gregory K. Stern, P.C. as its legal counsel. The firm's legal services include: (a) reviewing assets, liabilities, loan documentation, executory contracts and other relevant documentation; (b) preparing list of creditors, list of 20 largest unsecured creditors, schedules and statement of financial affairs; (c) giving the Debtor legal advice with respect to its powers and duties in the operation and management of its financial affairs; (d) assisting the Debtor in the preparation of schedules, statement of affairs and other necessary documents; (e) preparing legal papers; (f) negotiating with creditors and other parties in interest, attending court hearings, meetings of creditors and meetings with other parties in interest; (g) reviewing proofs of claim and solicitation of creditors' acceptances of plan; and (h) performing other legal services. The firm will be paid at these rates: Gregory K. Stern, Esq. $650 per hour Dennis E. Quaid, Esq. $550 per hour Monica C. O'Brien, Esq. $500 per hour Rachel S. Sandler, Esq. $400 per hour In addition, the firm will receive reimbursement for out-of-pocket expenses incurred. The firm received from the Debtor an advance payment of $7,000. As disclosed in court filings, Gregory K. Stern, P.C. is a "disinterested person" pursuant to Section 101(14) of the Bankruptcy Code. The firm can be reached through: Gregory K. Stern, Esq. Dennis E. Quaid, Esq. Monica C. O'Brien, Esq. Rachel S. Sandler, Esq. GREGORY K. STERN, P.C. 53 West Jackson Boulevard, Suite 1442 Chicago, IL 60604 Phone: (312) 427-1558 Email: greg@gregstern.com dquaid3@gmail.com monica@gregstern.com rachel@gregstern.com About Howard Intervention Center, Inc. Howard Intervention Center, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 23-16312) on December 5, 2023. In the petition signed by Cara K. Wilson, president, the Debtor disclosed $369,399 in assets and $1,085,759 in liabilities. Judge Benjamin Goldgar oversees the case. Gregory K. Stern, Esq., at GREGORY K. STERN, P.C., represents the Debtor as legal counsel. IGIT LOGISTICS: U.S. Trustee Says Plan Disclosures Inadequate ------------------------------------------------------------- Peter C. Anderson, the United States Trustee for Region 16, objects to the proposed Disclosure Statement of IGIT Logistics, LLC. According to the U.S. Trustee, the Disclosure Statement fails to contain "adequate information" upon which the parties in interest will be able to make an informed judgment about the Plan as required by 11 U.S.C. Section 1125. The U.S. Trustee says the Disclosure Statement in its current iteration cannot proceed to confirmation for the following reasons: * The Debtor has failed to file its monthly operating reports for October 2023 and November 2023. Accordingly, the U.S. Trustee cannot provide the court an analysis regarding the Debtor's performance during the course of this case as it relates to projected future disposable income. * Further, while the Disclosure Statement references a Projected Cash Flow Analysis, the document is not attached to the DS. Without this document, it is difficult to assess the feasibility of the plan. * The Debtor's request for cramdown fails to discuss a "new value" contribution. About IGIT Logistics IGIT Logistics, LLC, is an active California Limited Liability Company established in 2018 as a transportation services company. The Debtor's income comes from a transportation services agreement with the United States Postal Service ("USPS"). The Debtor filed a Chapter 11 petition (Bankr. C.D. Cal. Case No. 23-11357) on June 30, 2023. Onyinye N. Anyama, Esq. of ANYAMA LAW FIRM, APC, is the Debtor's legal counsel. INSTANT BRANDS: Targeting Mid-February Hearing on Plan ------------------------------------------------------ Instant Brands Acquisition Holdings Inc. and certain of its affiliates file this debtors' emergency motion for entry of orders approving the Disclosure Statement on a conditional basis and granting related relief and approving the Disclosure Statement on a final basis. After an exhaustive marketing and sale process, the Court entered an order approving the sales of all or substantially all of the Debtors' assets. While the Appliances Sale Transaction closed on Nov. 8, 2023, the Debtors and the Housewares Buyers were unable to obtain the requisite regulatory approvals for the Housewares Sale Transaction within the "Outside Date" set forth in the Housewares APA. As a result, the Debtors terminated the Housewares APA in accordance with its terms and the Debtors and the Ad Hoc Group of Crossover Lenders, in consultation with the Committee, worked together to formulate the Plan to facilitate a reorganization of the Debtors' housewares business via, among other things, the equitization of the Class 3 Prepetition Term Loan Claims. The Plan is the outcome of extensive negotiations among the Debtors and certain of their key stakeholders -- including Holders of over 95% of the Class 3 Prepetition Term Loan Claims (who are expected to ACCEPT the Plan) and the Committee -- and provides a framework for, among other things, a significant reduction of the Company's prepetition funded indebtedness and an operational restructuring of the Company's housewares business to further advance the Company's efforts in positioning itself for long-term success. The Company is confident that, upon emergence, it will be well-positioned to create value for all of its economic stakeholders. The Debtors also believe that the Plan (a) is reflective of a global compromise among the Debtors and their key stakeholders and (b) treats Holders of Claims against and Interests in the Debtors in an economic and fair manner in accordance with the Bankruptcy Code's priority scheme and the good-faith compromises and settlements of certain claims and controversies among the Debtors and key stakeholders. Establishing the following dates and deadlines with respect to the Plan confirmation schedule, subject to modification as necessary: * The Voting Record Date will be on Jan. 2, 2024 * The Hearing to consider this Motion will be at 8:00 a.m. (prevailing Central Time) on Jan. 8, 2024. * The Rule 3018 Motions Deadline will be at 4:00 p.m. (prevailing Central Time) on the later of (a) Jan. 22, 2024, and (b) if such Rule 3018 Motion relates to a Disputed Claim, the fifth day after such Claim became a Disputed Claim. * The Targeted date for filing Plan Supplement will be on Feb. 1, 2024. * The Targeted date for filing the form of the proposed Confirmation Order will be on Feb. 6, 2024. * The Voting Deadline and Combined DS and Plan Objection Deadline will be at 4:00 p.m. (prevailing Central Time) on Feb. 8, 2024. * The Targeted date for filing the voting report will be on Feb. 13, 2024. * The Combined Hearing will be at 8:00 a.m. (prevailing Central Time) on Feb. 15, 2024. Here, the Disclosure Statement contains adequate information to allow the Holders of Claims entitled to vote to make an informed judgment regarding the Plan. The Disclosure Statement is the product of the Debtors' extensive review and analysis of their businesses, assets, and liabilities, and the circumstances during the pendency of the Chapter 11 Cases. Additionally, the Combined DS and Plan contains detailed information regarding, among other things, the following: (a) the terms of the Plan; (b) the classification and treatment of Holders of all Classes of Claims and Interests; (c) the effect of the Plan on Holders of Claims and Interests and other parties in interest thereunder; (d) certain risk factors to consider that may affect the Plan; (e) certain tax issues related to the Plan, the Litigation Trust created in accordance therewith, and the Plan Distributions; and (f) the means for implementation of the Plan. Counsel to the Debtors: Charles A. Beckham, Jr., Esq. Arsalan Muhammad, Esq. David A. Trausch, Esq. HAYNES AND BOONE, LLP 1221 McKinney Street, Suite 4000 Houston, TX 77010 Tel: (713) 547-2000 E-mail: charles.beckham@haynesboone.com arsalan.muhammad@haynesboone.com david.trausch@haynesboone.com - and - Brian M. Resnick, Esq. Steven Z. Szanzer, Esq. Joanna McDonald, Esq. DAVIS POLK & WARDWELL LLP 450 Lexington Ave. New York, NY 10017 Tel: (212) 450-4000 E-mail: brian.resnick@davispolk.com steven.szanzer@davispolk.com joanna.mcdonald@davispolk.com About Instant Brands Instant Brands designs, manufactures and markets a global portfolio of innovative and iconic consumer lifestyle brands: Instant, Pyrex, Corelle, Corningware, Snapware, Chicago Cutlery, ZOID and Visions. Instant Brands Holdings Inc. and Instant Brands Inc., and their affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 23-90716) on June 12, 2023. In the petition signed by Adam Hollerbach, chief restructuring officer, the Debtors disclosed up to $1 billion in both assets and liabilities. Judge David R. Jones oversees the case. Davis Polk & Wardwell LLP's Brian M. Resnick, Steven Z. Szanzer and Joanna McDonald serve as counsel to the Debtors. The Debtors also tapped Haynes and Boone, LLP as Texas counsel, Stikeman Elliott LLP as Canadian counsel, AlixPartners, LLP as financial advisor, Guggenheim Securities LLC as investment banker, and Epiq Corporate Restructuring, LLC as claims, noticing, agent, solicitation and administrative advisor. DLA Piper LLP (US) serves as counsel to the Official Committee= of Unsecured Creditors. Ropes & Gray LLP serves as counsel to the DIP Lenders, and Moelis & Company LLC and Ankura Consulting Group, LLC act as advisors to the Term DIP Secured Parties. Skadden, Arps, Slate, Meagher & Flom LLP and Norton Rose Fulbright and Norton Rose Fulbright Canada LLP serve as counsel and FTI Consulting as financial advisor to the ABL DIP Secured Parties. Kramer Levin Naftalis & Frankel LLP serves as counsel to Cornell Capital. INVESTWING CAPITAL: Joseph Cotterman Named Subchapter V Trustee --------------------------------------------------------------- The U.S. Trustee for Region 14 appointed Joseph Cotterman as Subchapter V trustee for Investwing Capital, LLC and Sports and Fitness Exchange Legacy, LLC. Mr. Cotterman will be paid an hourly fee of $500 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Cotterman declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Joseph E. Cotterman 5232 W. Oraibi Drive Glendale, AZ 85308 Telephone: 480-353-0540 Email: cottermail@cox.net About Investwing and Sports and Fitness Investwing Capital, LLC and Sports and Fitness Exchange Legacy, LLC filed petitions under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Ariz. Lead Case No. 23-08998) on December 15, 2023, with up to $50,000 in assets and $1 million to $10 million in liabilities. Jason D. Curry, Esq., at Quarles & Brady, LLP represents the Debtor as legal counsel. JERRY HARVEY: Seeks to Hire Shuker & Dorris as Legal Counsel ------------------------------------------------------------ Jerry Harvey Audio LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to employ Shuker & Dorris, P.A. as its counsel. The firm's services include: a. advising as to the Debtor's rights and duties in the bankruptcy case; b. preparing pleadings related to this case, including a disclosure statement and a plan of reorganization; and c. taking any and all other necessary action incident to the proper preservation and administration of this estate. The firm will be paid at these rates: Partners $500 to $650 per hour Associates $425 per hour Paraprofessionals $125 to $175 per hour The firm received a retainer in the amount of $47,631.25. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. R. Scott Shuker, Esq., a partner at Law Firm of Shuker & Dorris, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: R. Scott Shuker, Esq. SHUKER & DORRIS, P.A. 121 S. Orange Avenue, Suite 1120 Tel: (407) 337-2060 Fax: (407) 337-2050 Email: rshuker@shukerdorris.com About Jerry Harvey Audio LLC Jerry Harvey Audio LLC manufactures JH Audio in-ear monitors. JH Audio offers IEMs handcrafted from exotic materials such as Carbon Fiber, Titanium, and polished Stainless Steel. Jerry Harvey Audio LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 23-05279) on Dec. 11, 2023. The petition was signed by Jerry J. Harvey, II, as manager. At the time of filing, the Debtor estimated $1 million to $10 million in both assets and liabilities. R.Scott Shuker, Esq. at SHUKER & DORRIS, P.A. represents the Debtor as counsel. JOANN INC: Approved to Transfer Common Stock to Nasdaq Capital -------------------------------------------------------------- JOANN Inc. disclosed in a Form 8-K filed with the Securities and Exchange Commission that the Company applied to transfer its listing of the Company's Common Stock from the Nasdaq Global Market tier to the Nasdaq Capital Market tier. The Company's application to transfer to the Nasdaq Capital Market was approved by Nasdaq on Dec. 22, 2023. The Company's Common Stock began trading on the Nasdaq Capital Market at the opening of business on Dec. 27, 2023 and will continue to trade under the symbol "JOAN." On July 20, 2023, JOANN received two written notices from the Listing Qualifications Department of The Nasdaq Stock Market LLC that the Company is not in compliance with (i) the Nasdaq Global Market's requirement to maintain a minimum market value of listed securities of at least $50 million as set forth in Nasdaq Listing Rule 5450(b)(2)(A), and (ii) the Nasdaq Global Market's requirement to maintain a minimum market value of publicly held listed securities of at least $15 million as set forth in Nasdaq Listing Rule 5450(b)(2)(C). In accordance with Nasdaq Listing Rule 5810(c)(3)(C) and Nasdaq Listing Rule 5810(c)(3)(D), the Company was provided a period of 180 calendar days, or until Jan. 16, 2024, to regain compliance with the Market Value Standard and the Publicly Held Market Value Standard, respectively. On Oct. 19, 2023, the Company received a third written notice from Nasdaq that the Company is not in compliance with the requirement to maintain a minimum closing bid price of $1.00 per share, because the closing bid price of the Company's common stock, par value $0.01 per share, was below $1.00 per share for 30 consecutive business days. The Bid Price Notice provided that, in accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has a period of 180 calendar days from the date of the Bid Price Notice, or until April 16, 2024, to regain compliance with the Bid Price Requirement. Although the previously disclosed Market Value Standard and Publicly Held Market Value Standard non-compliance notices are deemed to be resolved as a result of the Company's transfer to the Nasdaq Capital Market, the Company has until April 16, 2024 to regain compliance with the Bid Price Requirement. During this period, the Common Stock will continue to trade on the Nasdaq Capital Market. If at any time before April 16, 2024 the bid price of the Common Stock closes at or above $1.00 per share for a minimum of ten consecutive trading days, Nasdaq will provide written notification that the Company has achieved compliance with the Bid Price Requirement and the matter will be closed, unless Nasdaq exercises its discretion to extend the ten-day period pursuant to Nasdaq Listing Rule 5810(c)(3)(H). In the event the Company does not regain compliance with the Bid Price Requirement by April 16, 2024, the Company may be eligible for an additional 180 calendar day period to regain compliance. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, except for the Bid Price Requirement. The Company would also be required to provide written notice to Nasdaq of its intent to cure the deficiency during this second compliance period, including by effecting a reverse stock split, if necessary. If it appears to the Nasdaq staff that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, Nasdaq would provide notice to the Company that its Common Stock would be subject to delisting. At that time, the Company may appeal the Nasdaq staff's delisting determination to a Nasdaq Hearing Panel. In such event, there can be no assurance that such an appeal would be successful. In addition, if the Company fails to meet the Nasdaq Capital Market's other continued listing requirements, the Company's Common Stock could be subject to delisting. The Company said it is considering available options to regain compliance with Nasdaq listing criteria. However, there can be no assurance that the Company will be able to regain compliance under the Bid Price Requirement or will otherwise be in compliance with other Nasdaq listing criteria. About JOANN JOANN operates in the fabric and sewing industry with one of the largest assortments of arts and crafts products. JOANN has transformed itself into a fully-integrated, digitally-connected omni-channel retailer. JOANN reported a net loss of $200.6 million for the year ended Jan. 28, 2023. As of July 29, 2023, the Company had $2.26 billion in total assets, $563.3 million in total current liabilities, $1.09 billion in long-term debt, $714.8 million in long-term operating lease liabilities, $20.4 million in long-term deferred income taxes, $29.2 million in other long-term liabilities, and a total shareholders' deficit of $162.2 million. * * * As reported by the TCR on July 14, 2023, S&P Global Ratings lowered its ratings on U.S.-based creative products retailer Joann Inc. to 'CCC' from 'CCC+'. The outlook is negative, reflecting the risk S&P could lower its rating on Joann if liquidity deteriorates or the company pursues a debt transaction that S&P views as tantamount to default. S&P said weak operating performance and higher borrowing costs are straining cash flow and liquidity. JUSTICE SAND: Unsecureds' Recovery Hiked to 28% in Plan ------------------------------------------------------- Justice Sand Co., Inc., submitted a Second Amended Plan of Reorganization dated December 28, 2023. This Second Amended Plan proposes to pay creditors from future income by continuing operations and reorganizing its current debts. Debtor anticipates having enough business and cash available to fund the plan and pay the creditors pursuant to the proposed plan. It is anticipated that after confirmation, the Debtor will continue in business. Based upon the projections, the Debtor believes it can service the debt to the creditors. The Debtor will continue operating its business. The Debtor's Plan will break the existing claims into six classes of Claimants. These claimants will receive cash repayments over a period of time beginning on the Effective Date. While Debtor's Plan proposes to pay claims not to exceed 5 years, nothing prevents Debtor from prepaying its claims. Class 1 consists of Allowed Administrative Claims and will be paid in full over the term of the plan. * Class 1-1 consists of the Lane Law Firm PLLC ("LLF"). LLF is Debtor's counsel and has an administrative claim against Debtor for professional fees and expenses during this case. As of the date of the filing of this Plan, LLF has billed approximately $30,198.00 in professional fees and $1,892.88 in expenses. LLF estimates an additional $14,000.00 in professional fees and $800.00 in expenses in this case, for a total estimated administrative claim of $44,998.00. As of the date of the filing of this Plan, LLF holds $21,703.90 in trust for the payment of Debtor's professional fees and expenses. After applying the trust amount to the estimated total administrative claim, Debtor will owe LLF an additional $23,294.10 which will be paid in full over 60 equal monthly payments of $388.24. * Class 1-2 consists of the Subchapter V Trustee Claim. The Subchapter V Trustee has an administrative claim against Debtor for professional fees and expenses during this case. As of the date of the filing of this Plan, the Subchapter V Trustee holds $6,000.00 in trust for the payment of Debtor's professional fees and expenses. The Subchapter V Trustee's total estimated administrative claim for professional fees and expenses is $12,000.00. After applying the trust amount to the estimated total administrative claim, Debtor will owe the Subchapter V Trustee an additional $6,000.00 which will be paid in full over 60 equal monthly payments of $100.00. * Class 1-3 consists of the Mitsubishi HC Capital America Corp. Claim. Mitsubishi has an administrative claim against Debtor for post petition lease payments. The amount of this administrative claim is $58,046.59, which will be paid in full over 60 equal monthly payments of $967.44. The first monthly payment will be due and payable on the plan effective date and on the same day every month thereafter, unless this date falls on a weekend or federal holiday, in which case the payment will be due on the next business day. Class 5 consists of Allowed Unsecured Claims. All allowed unsecured creditors shall receive a pro rata distribution at zero percent per annum over the next 5 years beginning not later than the 15th day of the first full calendar month following 30 days after the effective date of the plan and continuing every year thereafter for plan term. Debtor may begin on the 15th day of the month after the effective date of confirmation, to begin disbursements to the Class 5 claims. Debtor will distribute up to $657,053.38 to the general allowed unsecured creditor pool over the 5-year term of the plan. The Debtor can make monthly, quarterly or yearly payments as to the Class 5 Claimants. The Debtor's General Allowed Unsecured Claimants will receive approximately 28% of their allowed claims under this plan. Any creditors listed in the schedules of Justice Sand Co. as disputed and did not file a claim will not receive distributions under this plan. The allowed unsecured claims total $2,367,587.68. Debtor anticipates the continued operations of the business to fund the Plan. A full-text copy of the Second Amended Plan dated December 28, 2023 is available at https://urlcurt.com/u?l=3i5clI from PacerMonitor.com at no charge. Debtor's Counsel: Robert C. Lane, Esq. Joshua D. Gordon, Esq. A. Zachary Casas, Esq. The Lane Law Firm, PLLC 6200 Savoy, Suite 1150 Houston, TX 77036 Telephone: (713) 595-8200 Facsimile: (713) 595-8201 Email: notifications@lanelaw.com joshua.gordon@lanelaw.com zach.casas@lanelaw.com About Justice Sand Co. Justice Sand Co., Inc., is a family-owned and operated company that manufactures and provides construction materials and site work to commercial and residential customers. The company is based in Sweeny, Texas. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Texas Case No. 23-80085) on May 8, 2023, with $1,800,713 in assets and $2,975,864 in liabilities. Brendon Singh, Esq., at Tran Singh, LLP, has been appointed as Subchapter V trustee. Judge Jeffrey P. Norman oversees the case. The Debtor tapped The Lane Law Firm as bankruptcy counsel and Green & McElreath CPAs, PLLC, as accountant. KASPIEN HOLDINGS: Files Form 25 with SEC ---------------------------------------- Kaspien Holdings Inc. filed a Form 25 with the Securities and Exchange Commission notifying the voluntary removal from listing and/or registration of its common stock from the OTCQB. About Kaspien Holdings Headquartered in Spokane, WA, Kaspien Holdings Inc. (f/k/a Trans World Entertainment Corporation) (NASDAQ: KSPN) -- www.kaspien.com -- is a global e-commerce accelerator that deploys AI-driven software and end-to-end services to optimize and grow brands on Amazon, Walmart, Target, eBay, and other online marketplaces. Rebranded as Kaspien in 2020, the Company has spent more than a decade developing a marketplace growth platform of proprietary technologies that maximize supply chain resilience, optimize marketing, strengthen brand control, and provide predictive analytics. Serving a variety of brands, distributors, agencies and FBA aggregators, Kaspien accelerates growth by tailoring an extensive suite of seller services to its partners' dynamic e-commerce needs. In its Quarterly Report for the 13 weeks ended Oct. 28, 2023, Kaspien reported that there is substantial doubt about the Company's ability to continue as a going concern based on recurring losses from operations, negative cash flows from operations, the expectation of continuing operating losses for the foreseeable future, and uncertainty with respect to any available future funding. LAEEQ MOB: Case Summary & Two Unsecured Creditors ------------------------------------------------- Debtor: Laeeq MOB, LP 509 W. Tidwell Houston, TX 77091 Business Description: Laeeq MOB, LP is a Single Asset Real Estate debtor (as defined in 11 U.S.C. Section 101(51B)). The Debtor is the fee simple owner of a real property located at 509 W. Tidwell Road, Houston, Texas 77091 valued at $9 million. Chapter 11 Petition Date: January 1, 2024 Court: United States Bankruptcy Court Southern District of Texas Case No.: 24-30005 Debtor's Counsel: Samuel L. Milledge, Esq. THE MILLEDGE LAW FIRM, PLLC 2500 East T.C. Jester Blvd. Ste. 510 Houston, TX 77008 Tel: (713) 812-1409 Fax: (713) 812-1418 Email: milledge@milledgelawfirm.com Total Assets: $9,000,000 Total Liabilities: $6,099,126 The petition was signed by Syed G. Mohiuddin as manager. A full-text copy of the petition containing, among other items, a list of the Debtor's two unsecured creditors is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/ORCYZ5Q/Laeeq_MOB_LP__txsbke-24-30005__0001.0.pdf?mcid=tGE4TAMA LANCASTER TRENCHING: Gary Rainsdon Named Subchapter V Trustee ------------------------------------------------------------- The Acting U.S. Trustee for Region 18 appointed Gary Rainsdon as Subchapter V trustee for Lancaster Trenching, Inc. Mr. Rainsdon will be paid an hourly fee of $225 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Rainsdon declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Gary L. Rainsdon P.O. Box 506 Twin Falls, ID 83303 Office: (208) 734-1180 Email: trustee@atcnet.net About Lancaster Trenching Lancaster Trenching, Inc. operates a land grading business in Filer, Idaho. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Idaho Case No. 23-40600) on December 21, 2023, with $4,959,722 in assets and $4,561,680 in liabilities. Frances Lancaster, secretary, signed the petition. Judge Noah G. Hillen oversees the case. Matthew Christensen, Esq., at Johnson May, represents the Debtor as legal counsel. LATIGO PLAZA: Case Summary & Nine Unsecured Creditors ----------------------------------------------------- Debtor: Latigo Plaza, Inc. d/b/a The Latigo Group 5150 Broadway, Suite 628 San Antonio, TX 78209 Business Description: Latigo Plaza is primarily engaged in renting and leasing real estate properties. Chapter 11 Petition Date: January 1, 2024 Court: United States Bankruptcy Court Western District of Texas Case No.: 24-50002 Debtor's Counsel: William B. Kingman, Esq. LAW OFFICES OF WILLIAM B. KINGMAN 3511 Broadway San Antonio, TX 78209 Tel: (210) 829-1199 Email: bkingman@kingmanlaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by David B. Brigham as president. A full-text copy of the petition containing, among other items, a list of the Debtor's nine unsecured creditors is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/3LT34LQ/Latigo_Plaza_Inc__txwbke-24-50002__0001.0.pdf?mcid=tGE4TAMA LATIGO PROPERTIES: Case Summary & Nine Unsecured Creditors ---------------------------------------------------------- Debtor: Latigo Properties, Inc. d/b/a The Latigo Group 6150 Broadway, Suite 628 San Antonio, TX 78209 Business Description: Latigo Properties is primarily engaged in renting and leasing real estate properties. Chapter 11 Petition Date: January 1, 2024 Court: United States Bankruptcy Court Western District of Texas Case No.: 24-50003 Debtor's Counsel: William B. Kingman, Esq. LAW OFFICE OF WILLIAM B. KINGMAN 3511 Broadway San Antonio, TX 78209 Tel: (210) 829-1199 Email: bkingman@kingmanlaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $500,000 to $1 million The petition was signed by David B. Brigham as president. A full-text copy of the petition containing, among other items, a list of the Debtor's nine unsecured creditors is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/3T5AMBA/Latigo_Properties_Inc__txwbke-24-50003__0001.0.pdf?mcid=tGE4TAMA LAURA CHRISTY: Seeks to Hire Penachio Malara as Bankruptcy Counsel ------------------------------------------------------------------ Laura Christy Midtown, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to hire Penachio Malara, LLP as its counsel. The Debtor requires legal counsel to: (a) assist in the administration of the Debtor's Chapter 11 proceeding, the preparation of operating reports and complying with applicable law and rules; (b) review claims and resolve claims which should be disallowed; and (c) assist in reorganizing and confirming a Chapter 11 plan or implementing an alternative exit strategy. The hourly rates of the firm's counsel and staff are as follows: Anne Penachio $550 Francis Malara $450 Paralegal $225 Anne Penachio, Esq., an attorney at Penachio Malara, disclosed in a court filing that the firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Anne Penachio, Esq. Penachio Malara LLP 245 Main Street-Suite 450 White Plains, NY 10601 Telephone: (914) 946-2889 Email: frank@pmlawllp.com About Laura Christy Midtown Laura Christy Midtown, LLC conducts business under the name Valbella Midtown. The company is based in Yonkers, N.Y. Laura Christy Midtown filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 23-22845) on Nov. 14, 2023, with $1 million to $10 million in both assets and liabilities. David Ghatanfard, president, signed the petition. Judge Sean H. Lane oversees the case. Anne Penachio, Esq., at Penachio Malara, LLP represents the Debtor as legal counsel. LEBANON PLATINUM: Seeks $1MM DIP Loan from DM Funding ----------------------------------------------------- Lebanon Platinum, LLC and affiliates ask the U.S. Bankruptcy Court for the Middle District of Tennessee for authority to use cash collateral from January 6, 2024, through March 1, 2024 and obtain postpetition financing. The Debtor seeks to obtain senior secured postpetition financing on a superpriority basis of up to $1 million from DM Funding LLC and/or its assigns. The Debtor will repay the DIP Obligations in full on the Maturity Date, which is defined as 12 months from the effective date of the DIP Facility. Interest will be payable on the outstanding amount of the DIP Facility on the Maturity Date at a rate of 15% per annum. The Debtors need to obtain financing in order to pay administrative expenses in the case and fund their ongoing operations. The Debtors have several pre-petition creditors purporting to assert a security interest in the Debtors' assets, more particularly described as follows: a. The Debtors believe that the Property Tax Creditors may hold priming liens for real property tax indebtedness for 2023. While only the Wilson County, Tennessee Trustee and the Walton County, Florida Trustee have filed proofs of secured claims for real property tax indebtedness, the Debtors anticipate the remaining Property Tax Creditors will assert secured claims for 2023 real property taxes. b. Pursuant to its proofs of claim filed in these jointly administered cases, SummitBridge holds a first position lien on all of the Debtors’ personal property and certain of the Debtors' real property—to specifically include the improved hotel properties upon which the Debtors' operate. The total indebtedness alleged by SummitBridge as of the Petition Date is as follows: -- Cookeville Platinum, LLC: $4.7 million secured on certain of the real property and all of the personal property of all Debtors other than Destin Platinum, LLC. -- Lebanon Platinum, LLC: $5.5 million secured on certain of the real property and all of the personal property of all Debtors other than Destin Platinum, LLC. -- Murfreesboro Platinum, LLC: $3,879,316 secured on certain of the real property and all of the personal property of all Debtors other than Destin Platinum, LLC. -- Platinum Gateway II, LLC: $4.1 million secured on certain of the real property and all of the personal property of all Debtors other than Destin Platinum, LLC. -- VMV, LLC: $3,622,150 secured on certain of the real property and all of the personal property of all Debtors other than Destin Platinum, LLC. -- Destin Platinum, LLC: $5.991 million secured on its real and personal property. A review of the relevant land records indicates that Growth Capital, LLC holds a first-position lien on certain unimproved property owned by Lebanon Platinum, LLC that is adjacent to its operating hotel property. Growth Capital, LLC has not filed a proof of claim, but the Debtors anticipate that it will assert a secured claim against these parcels of real property in the amount of approximately $1 million. All post-petition obligations of the Debtors to the DIP Lender will have administrative priority and will constitute an allowed super-priority claim pursuant to, 11 U.S.C. section 364(c)(1) over all other administrative expenses in the Debtors' case. A copy of the motion is available at https://urlcurt.com/u?l=J2YquR from PacerMonitor.com. About Lebanon Platinum Lebanon Platinum, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Tenn. Case No. 23-03592) on Sept. 29, 2023, with up to $50,000 in assets and up to $10 million in liabilities. Mitch Patel, manager, signed the petition. Judge Charles M. Walker oversees the case. Steven L. Lefkovitz, Esq., at Lefkovitz & Lefkovitz, PLLC serves as the Debtor's legal counsel. LIFOD HOME: Ombudsman Hires Rimon P.C. as Legal Counsel ------------------------------------------------------- Joseph Tomaino, the duly appointed patient care ombudsman in the Chapter 11 case of Lifod Home Health Care, LLC, seeks approval from the U.S. Bankruptcy Court for the District of Massachusetts to employ Rimon P.C. as his counsel. The PCO requires legal counsel to: (a) represent the PCO in any proceeding in the Bankruptcy Court, and in any action in other courts where the rights of the patients may be litigated as a result of the Chapter 11 Case; (b) represent the PCO concerning the requirements of the Bankruptcy Code and Bankruptcy Rules and the requirements of the Office of United States Trustee relating to the discharge of his duties under section 333 of the Bankruptcy Code; (c) advise the PCO in connection with gaining access to patient records in accordance with section 333 of the Bankruptcy Code and other relevant law to the extent applicable; (d) represent the PCO concerning the effect on patients of the closing of the Debtor's programs or facility; and (e) perform other legal services. The firm will be paid at these rates: Attorneys $300 to $750 per hour Paraprofessionals $300 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Ronald Friedman, Esq., an attorney at Rimon, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Ronald J. Friedman, Esq. RIMON PC 100 Jericho Quadrangle, Suite 300 Jericho, NY 11753 Telephone: (516) 479-6300 Email: ronald.friedman@rimonlaw.com About Lifod Home Lifod Home Health Care, LLC, a provider of home health care services, filed Chapter 11 petition (Bankr. D. Mass. Case No. 23-40476) on June 13, 2023, with $100,001 to $500,000 in assets. Judge Elizabeth D. Katz oversees the case. S. James Boumil, Esq., at Boumil Law Offices represents the Debtor as bankruptcy counsel. Joseph J. Tomaino is the patient care ombudsman appointed in the Debtor's case. LOUISA RIDGE: Unsecureds Will Get 37.5% of Claims over 3 Years -------------------------------------------------------------- Louisa Ridge Adult Day Services, Inc., filed with the U.S. Bankruptcy Court for the Northern District of Ohio a Small Business Plan of Reorganization under Subchapter V dated December 28, 2023. The Debtor operates an organization that provides adult day services to individuals with developmental disabilities. The Debtor is owned and operated by Francine Osby and her two daughters Raychelle Kidd and Aricka Walker. Because of the debt incurred through COVID-19 pandemic and the aggressive actions of two merchant cash advance lenders, a Chapter 11 proceeding was determined by the Debtor's management as the best and only chance to save the Debtor's business, continue to provide services to it vulnerable population of persons served and restructure its debts. The Debtor's projected income is anticipated to improve going forward based upon expected increased funding from the State of Ohio in 2024. The Debtor proposes no material change in the business operations and management of the Debtor to effectuate the reorganization, except some increases to payroll expenses in line with increases in revenue from the State of Ohio. Class B consists of General Unsecured Claims and Unsecured Portion of Class A-1 through A-2 Claims. In full satisfaction of all Class B Claims, such creditors shall receive a pro-rata portion of Distributable Cash estimated to be not less than $137,840.95 for an estimated pro rata distribution of 37.5%. The allowed unsecured claims total $366,696.56. The payment under this Plan to holders of Allowed Class B Claims shall be made in quarterly payments for up to 3 years beginning in the first year following the effective date, but in no event, commencing no later than October 1, 2024. This Class is impaired. Each holder of an Interest in the Debtor shall retain its Interest. Through Restructuring Transactions, the Debtor will restructure its finances by committing its projected disposable income to plan payments and by modifying certain secured obligations. A full-text copy of the Plan of Reorganization dated December 28, 2023 is available at https://urlcurt.com/u?l=hfDrl4 from PacerMonitor.com at no charge. Counsel for Debtor: Michael A. Steel, Esq. STEEL & COMPANY LAW FIRM 2950 W Market St G Fairlawn, OH 44333 Phone: (330) 223-5050 Email: msteel@steelcolaw.com About Louisa Ridge Adult Day Services Louisa Ridge Adult Day Services, Inc., operates an organization that provides adult day services to individuals with developmental disabilities. The Debtor sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ohio Case No. 23-51350) on Sep. 29, 2023, listing $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Alan M. Koschik oversees the case. Michael A. Steel, Esq., at Steel & Company, Ltd., is the Debtor's legal counsel. MAIDUL SAFA: Case Summary & Two Unsecured Creditors --------------------------------------------------- Debtor: Maidul Safa, LLC 203 Blue Heron Court Voorhees, NJ 08043 Business Description: Maidul Safa is a Single Asset Real Estate debtor (as defined in 11 U.S.C. Section 101(51B)). The Debtor is the owner of real property located at 203 Blue Heron Court, Voorhees NJ valued at $1.2 million. Chapter 11 Petition Date: January 2, 2024 Court: United States Bankruptcy Court District of New Jersey Case No.: 24-10021 Debtor's Counsel: Allen I. Gorski, Esq. GORSKI & KNOWLTON PC 311 Whitehorse Ave Suite A Hamilton, NJ 08610 Tel: 609-964-4000 Fax: 609-528-0721 Total Assets: $1,200,000 Total Liabilities: $749,259 The petition was signed by Maidul Safa as managing member. A full-text copy of the petition containing, among other items, a list of the Debtor's two unsecured creditors is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/3FY2XFY/Maidul_Safa_LLC__njbke-24-10021__0001.0.pdf?mcid=tGE4TAMA MCCONNELL SAND: Unsecureds Owed $1.1M to Get $100K in Plan ---------------------------------------------------------- McConnell Sand & Stone LLC submitted a Second Amended Chapter 11 Subchapter V Plan of Reorganization. The Debtor has taken numerous steps to improve its bottom line. l. Surrendered a 2020 Peterbilt Truck to reduce plan debt service. 2. Rejected an unprofitable service contract with one of its quarries. 3. The Debtor has been profitable post petition in amounts necessary to meet plan obligations and support the Debtor's plan projections. The Debtor's financial projections show that the Debtor will have projected disposable income (as defined by Section 1191(d) of the Bankruptcy Code) in an amount sufficient to meet the requirements of this Plan when added to the Debtor's expected cash on hand as of Confirmation in the amount of $20,000. Again, the Debtor submits that should it be liquidated there would be no distribution to unsecured creditors. Class 8 Unsecured Creditors are impaired. The amounts owed to unsecured creditors from all sources total $1,185,888. This Class will be paid the sum of $100,000 over the life of the Plan. These creditors will receive their plan payments in 3 annual installments with the first yearly installment in the amount of $33,333 due 3 years from the date of confirmation. A copy of the Second Amended Chapter 11 Subchapter V Plan of Reorganization dated Dec. 22, 2023, is available at https://tinyurl.ph/dTkOI from PacerMonitor.com. About McConnell Sand and Stone McConnell Sand and Stone, LLC, filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. W.D. Mich. Case No. 23-90058) on June 19, 2023, with as much as $50,000 in assets and $500,001 to $1 million in liabilities. Thomas Richardson, Esq., at Lewis Reed and Allen, has been appointed as Subchapter V trustee. Judge Scott W. Dales oversees the case. The Debtor tapped George E. Jacobs, Esq., at Bankruptcy Law Offices as counsel and Laurie Lapham at Laurie Lapham Accounting as accountant. MERCURITY FINTECH: Incurs US$2.6M Net Loss in First Half of 2023 ---------------------------------------------------------------- Mercurity Fintech Holding Inc. announced its unaudited financial results for the six months ended June 30, 2023. For the six months ended June 30, 2023, Mercurity reported a net loss of US$2.58 million on US$246,242 of total revenue, compared to a net loss of US$4.65 million on US$783,089 of total revenue for the six months ended June 30, 2022. As of June 30, 2023, the Company had US$30.08 million in total assets, US$11.05 million in total liabilities, and US$19.03 million in total shareholders' equity. As of June 30, 2023, the Company had cash and cash equivalents of US$13,577,030 and security deposit of US$91,000, compared with cash and cash equivalents of US$7,446,664, security deposit of US$91,209 as of Dec. 31, 2022. As of June 30, 2023, the Company had short-term investments of US$2,306,404, which is the 6-month Certificate of Deposits of US$2,305,945 and the T-Bill ETF of US$459, compared with short-term investments of nil as of Dec. 31, 2022. As of June 30, 2023, the Company had cryptocurrency assets of US$4,319,649 in aggregate, which is the U.S. dollar equivalent of 125.8585 Bitcoins, 2,005,537.50 USD Coins, and 138,314.65 Filecoins. Among them, all of the Bitcoins and USD Coins, with a carrying amount of US$3,944,808 as of June 30, 2023, were improperly seized by the Sheyang Public Security Bureau. The Company made capital expenditures, including for property and equipment, short-term investment stocks and business acquisition, of US$4,110,466 and nil for the six months ended June 30, 2023 and 2022, respectively. Mercurity said, "The Company had an accumulated deficit of approximately $670 million as of June 30, 2023 and had a net loss of approximately $2.55 million for the six months ended June 30, 2023. [T]he Company has incurred recurring operating losses and negative cash flows from operating activities and has an accumulated deficit, management has determined that these conditions raise substantial doubt about the Company's ability to continue as a going concern. "With the restructuring of the board and management in the second half of 2022, the Company secured new financing and clarified new business plans. The Company received US$3.15 million, US$5 million and US$5 million from three PIPEs in November 2022, December 2022 and January 2023 and then received US$9 million from an unsecured convertible promissory note issued on February 2023. In the first half of 2023, the Company further adjusted and optimized its business structure. The Company decided to reduce the scale of high-risk cryptocurrency related businesses and sought to make good progress in new business areas." A full-text copy of the Form 6-K is available for free at: https://www.sec.gov/Archives/edgar/data/1527762/000149315223046310/ex99-1.htm About Mercurity Formerly known as JMU Limited, Mercurity Fintech Holding Inc. . is a digital fintech company with subsidiaries specializing in distributed computing and digital consultation across North America and the Asia-Pacific region and is in the process of applying for FINRA approval to add brokerage services to its business. The Company's focus is on delivering innovative financial solutions while adhering to principles of compliance, professionalism, and operational efficiency. Its aim is to contribute to the evolution of digital finance by providing secure and innovative financial services to individuals and businesses. Mercurity reported a net loss of US$5.63 million in 2022, compared to a net loss of US$21.66 million in 2021. As of June 30, 2023, the Company has US$30,078,695 in total assets, US$11,052,529 in total liabilities, and US$19,026,166 in total shareholders' equity. Singapore-based Onestop Assurance PAC, the Company's auditor since 2023, issued a "going concern" qualification in its report dated April 25, 2023, citing that the Company has incurred recurring operating losses and negative cash flows from operating activities and has an accumulated deficit, which raise substantial doubt about its ability to continue as a going concern. MICROSTRATEGY INC: Buys Bitcoin Worth $615.7 Million ---------------------------------------------------- MicroStrategy Incorporated disclosed in a Form 8-K filed with the Securities and Exchange Commission that, during the period between Nov. 30 and Dec. 26, 2023, the Company, together with its subsidiaries, acquired approximately 14,620 bitcoins for approximately $615.7 million in cash, at an average price of approximately $42,110 per bitcoin, inclusive of fees and expenses. As of Dec. 26, 2023, MicroStrategy, together with its subsidiaries, held an aggregate of approximately 189,150 bitcoins, which were acquired at an aggregate purchase price of approximately $5.895 billion and an average purchase price of approximately $31,168 per bitcoin, inclusive of fees and expenses. ATM Update As previously disclosed, on Nov. 30, 2023, MicroStrategy entered into a Sales Agreement with Cowen and Company, LLC, Canaccord Genuity LLC, and BTIG, LLC, as sales agents, pursuant to which MicroStrategy may issue and sell shares of its class A common stock, par value $0.001 per share, having an aggregate offering price of up to $750.0 million from time to time through the Sales Agents. On Dec. 27, 2023, MicroStrategy announced that, as of Dec. 26, 2023, the Company had issued and sold an aggregate of 1,076,915 Shares under the Sales Agreement for aggregate net proceeds to MicroStrategy (less sales commissions) of approximately $610.1 million. About MicroStrategy Microstrategy Incorporated is an enterprise analytics software and services company. Since its founding in 1989, MicroStrategy has been focused on empowering organizations to leverage the immense value of their data. MicroStrategy pursues two corporate strategies in the operation of its business. One strategy is to acquire and hold bitcoin and the other strategy is to grow its enterprise analytics software business. Microstrategy reported a net loss of $1.47 billion in 2022, a net loss of $535.48 million in 2021, and a net loss of $7.52 million in 2020. As of Sept. 30, 2023, the Company had $3.37 billion in total assets, $2.53 billion in total liabilities, and $840.39 million in total shareholders' equity. MOLEKULE GROUP: Unsecureds to Get $150K and Net Proceeds -------------------------------------------------------- Molekule Group, Inc. and Molekule, Inc., submitted a Modified Amended Joint Plan of Reorganization dated Dec. 22, 2023. On the Petition Date, the Debtors filed a motion seeking approval to obtain $3,000,000 in postpetition debtor in possession financing, with such DIP Financing being secured by a super-priority, first-position priming lien on all of the Debtors' assets other than the De Lage Equipment, the Raymond Equipment, the Toyota Equipment, and the Trinity Equipment pursuant to 11 U.S.C. Sec. 364(d), and with such DIP Financing being allowed as a super-priority administrative expense pursuant to 11 U.S.C. Sec. 364(c)(1). Such $3,000,000 in DIP Financing was provided proportionately by the following entities (together, the "DIP Lender"), with Bridge Coast Capital, LLC serving as the administrative and collateral agent (the "DIP Agent") for the DIP Lender pursuant to the terms set forth in the motion and approved by the Court: a. Foundry, 44%; b. BCC, an affiliate of Khoury, 24%; c. Armistice, 22%; and d. SVBC, 10%. As set forth in Section 3.02 of the Plan, on the Effective Date, the DIP Lenders shall pay the Effective Date Contribution and receive 63% of the equity interests in the Reorganized Debtor in full satisfaction of the amounts due under the DIP Financing The Plan will treat unsecured claims as follows: * Class 5 Allowed Unsecured Priority Wage Claims are unimpaired. On the Effective Date, each holder of an Allowed Unsecured Priority Benefit Plan Contribution Claim will receive payment in full in cash by the Reorganized Debtor. To the extent any person holds an unsecured claim that exceeds the statutory cap set forth in 11 U.S.C. Section 507(a)(5), such claim shall be treated as a General Unsecured Claim in Class 8 of the Plan. * Class 6 Allowed Unsecured Priority Benefit Plan Contribution Claims are unimpaired. On the Effective Date, each holder of an Allowed Unsecured Priority Benefit Plan Contribution Claim will receive payment in full in cash by the Reorganized Debtor. To the extent any person holds an unsecured claim that exceeds the statutory cap set forth in 11 U.S.C. section 507(a)(5), such claim will be treated as a General Unsecured Claim in Class 8 of the Plan. * Class 7 Allowed Unsecured Priority Consumer Deposit Claims are unimpaired. On the Effective Date, each holder of an Allowed Unsecured Priority Consumer Deposit Claim will receive payment in full in cash by the Reorganized Debtor. To the extent any person holds an unsecured claim that exceeds the statutory cap set forth in 11 U.S.C. Section 507(a)(7), such claim will be treated as a General Unsecured Claim in Class 8 of the Plan. * Class 8 Allowed General Unsecured Claims are impaired. In full satisfaction, settlement, release, extinguishment, and discharge of such claims, (i) on the Effective Date, each holder of an Allowed General Unsecured Claim will receive from the Reorganized Debtor a one-time Pro Rata Distribution from a total of $150,000; and (ii) after the Effective Date, and pursuant to further order or orders of the Court, all net proceeds received or obtained by the Plan Administrator resulting from any demand, pursuit, award, or settlement of any Avoidance Action that is not an Avoidance Action to avoid or recover any Critical Vendor Payment as set forth in Section 6.06 of the Plan; provided, however, that any pro rata distribution attributable to the Mezz Term Loan Deficiency Claims will be reallocated and distributed to all holders of other allowed General Unsecured Claims until all other General Unsecured Claims have been paid in full, after which distributions on account of General Unsecured Claims will be made on account of the Mezz Term Loan Deficiency Claims until the Mezz Term Loan Deficiency Claims are paid in full. Allowed Administrative Claims shall be paid from funds generated from the Debtors' operation, cash on hand, and retainers held by professionals. Attorneys for the Debtors: Bradley S. Shraiberg, Esq. Eric Pendergraft, Esq. SHRAIBERG PAGE P.A. 2385 NW Executive Center Drive, Ste. 300 Boca Raton, FL 33431 Telephone: (561) 443-0800 Facsimile: (561) 998-0047 E-mail: bss@slp.law ependergraft@slp.law A copy of the Modified Amended Joint Plan of Reorganization dated Dec. 22, 2023, is available at https://tinyurl.ph/ywYjy from PacerMonitor.com. About Molekule Inc. Molekule, Inc., and Molekule Group, Inc., which manufacture air purifiers, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Lead Case No. 23-18094) on Oct. 3, 2023. In the petition signed by Ryan Tyler, chief financial officer, Molekule, Inc. disclosed $11,592,471 in total assets and $46,952,909 in total liabilities. The Hon. Erik P. Kimball is the case judge. The Debtors tapped Bradley S. Shraiberg, Esq., at Shraiberg Page, PA as bankruptcy counsel and the law firm of Ossentjuk & Botti as special counsel. MV REALTY: Seeks to Extend Plan Exclusivity to May 20 ----------------------------------------------------- MV Realty PBC, LLC and its affiliates asked the U.S. Bankruptcy Court for the Southern District of Florida to extend the exclusive periods by which they have to file a plan or plans of reorganization and/or liquidation to May 20, 2024 and to solicit affirmative votes from impaired classes of claims and interests to July 18, 2024. The current deadlines by which the Debtors have the exclusive right to file a plan and to solicit affirmative votes from impaired classes of claims or interest are January 20, 2024, and March 20, 2024, respectively. The Debtors pointed out that the jointly administered case is complex, stating that they comprise 36 related debtors, some of which are parties to litigation and regulatory matters across the United States, as well as 2 adversary proceedings pending before the Court. The Debtors explained that in light of the pending litigation, it has been challenging to formulate a plan and, therefore, additional time is needed. The Debtors, however, claimed that they are current in filing monthly operating reports and have had preliminary discussions with the newly appointed committee's counsel. The Debtors also added that they have had regular communications with and have provided financial reporting to their senior secured lender, which included regular updates on the status of litigation and regarding plan formulation. The Debtors also stated that they have enjoyed the use of cash collateral throughout the case with the support of the secured parties. MV Realty PBC, LLC and its affiliates are represented by: Michael D. Seese, Esq. SEESE, P.A. 101 N.E. 3rd Avenue, Suite 1500 Ft. Lauderdale, FL 33301 Tel: (954) 745-5897 About MV Realty PBC MV Realty PBC, LLC, is a real estate brokerage firm based in Boca Raton, Fla. MV Realty and its affiliates filed Chapter 11 petitions (Bankr. S.D. Fla. Lead Case No. 23-17590) on Sept. 22, 2023. In the petitions signed by Antony Mitchell, authorized party, MV Realty disclosed $10 million to $50 million in assets and $50 million to $100 million in liabilities. Judge Erik P. Kimball oversees the cases. The Debtors tapped Seese, PA as bankruptcy counsel; Young Moore and Henderson, PA as local counsel; and Carpenter Lipps LLP and Frascona Joiner Goodman and Greenstein PC as special litigation counsel. NORTH PONDEROSA: Unsecureds to Get Full Payment From Eventual Sale ------------------------------------------------------------------ North Ponderosa, LLC, submitted a Chapter 11 Plan of Reorganization and a Disclosure Statement dated Dec. 22, 2023. The Debtor's sole asset is the real property consisting of 94.255 acres commonly accessed by County Road 413, Collin County, Texas, and more particularly described as Property ID - 2673882; Geographical ID - R-6792-001-0720-1 ABS A0792 JESSE STIFF SURVEY, SHEET I, TRACT 72. There are no business operations conducted by the Debtor on the Real Property. The Debtor receives nominal revenue from an agricultural lease it entered into with Donald Lee Cardwell. General unsecured creditors are classified in Class 3, and it is anticipated the holders of allowed claims will receive a distribution of 100%, which distributions will be made from the sale proceeds. Under the Plan, Class 3 General Unsecured Claims are impaired and will be paid in full from the Sale Proceeds. The Debtor will sell the Real Property within 1 year of the Effective Date. If the Closing Date does not take place within 1 year of the Effective Date, the Debtor shall file a notice with the Court converting the Case to one under Chapter 7 of the Bankruptcy Code. Attorney for the Debtor: Robert T. DeMarco, Esq. Michael S. Mitchell, Esq. DEMARCO•MITCHELL, PLLC 500 N. Central Expressway, 500 Plano, TX 75074 Tel: (972) 578-1400 Fax: (972) 346-6791 E-mail robert@demarcomitchell.com mike@demarcomitchell.com A copy of the Disclosure Statement dated Dec. 22, 2023, is available at https://tinyurl.ph/yOfRJ from PacerMonitor.com. About North Ponderosa North Ponderosa, LLC, is engaged in activities related to real estate. North Ponderosa filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Tex. Case No. 23-41387) on July 31, 2023. At the time of filing, the Debtor estimated $1 million to $10 million in both assets and liabilities. The petition was signed by William H. Gibson as sole manager. Judge Brenda T. Rhoades presides over the case. Robert T. DeMarco, Esq., at DEMARCO MITCHELL, PLLC, is the Debtor's counsel. PANGEA ORGANICS: Hires Kutner Brinen Dickey Riley as Attorney ------------------------------------------------------------- Pangea Organics, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Colorado to employ Kutner Brinen Dickey Riley, P.C. as its attorneys. The firm will provide these services: a. provide the Debtor with legal advice with respect to its powers and duties; b. aid the Debtor in the development of a plan of reorganization under Chapter 11; c. file the necessary petitions, pleadings, reports, and actions which may be required in the continued administration of the Debtor's property under Chapter 11; d. take necessary actions to enjoin and stay until final decree herein continuation of pending proceedings and to enjoin and stay until final decree herein commencement of lien foreclosure proceedings; and e. perform all other legal services for the Debtor which may be necessary. The firm will be paid at these rates: Jeffrey S. Brinen $500 per hour Jenny Fujii $410 per hour Jonathan M. Dickey $350 per hour Keri L. Riley $350 per hour Contract Attorney $350 per hour Paralegal $100 per hour The firm received from the Debtor a retainer in the amount of $6,182.31. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Keri L. Riley, Esq., a partner at Dickey Riley, P.C., disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Keri L. Riley, Esq. Kutner Brinen Dickey Riley, P.C. 1660 Lincoln Street, Suite 1720 Denver, CO 80264 Tel: (303) 832-2910 Email: klr@kutnerlaw.com About Pangea Organics, Inc. Pangea offers a selection of skincare and bodycare products. Pangea claims that its all-new skincare collection harnesses the highest concentration of nature-rich ingredients combined with clinically-proven actives for the most effective products, from soil to skin. Pangea Organics, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Colo. Case No. 23-15826) on Dec. 18, 2023. The petition was signed by Joshua Onysko as chief executive officer. At the time of filing, the Debtor estimated $50,000 to $100,000 in assets and $1 million to $10 million in liabilities. Judge Michael E. Romero presides over the case. Jeffrey S. Brinen, Esq. at KUTNER BRINEN DICKEY RILEY PC represents the Debtor as counsel. PANGEA ORGANICS: Mark Dennis of SL Biggs Named Subchapter V Trustee ------------------------------------------------------------------- The U.S. Trustee for Region 11 appointed Mark Dennis, a certified public accountant at SL Biggs, as Subchapter V trustee for Pangea Organics, Inc. Mr. Dennis will be paid an hourly fee of $400 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Dennis declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Mark D. Dennis, CPA SL Biggs, A Division of SingerLewak, LLP 2000 S. Colorado Blvd., Tower 2, Ste. 200 Denver, CO 80222 Phone: 303-226-5471 Email: mdennis@slbiggs.com About Pangea Organics Pangea Organics, Inc., a company in Boulder, Colo., offers a selection of skincare and bodycare products. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Colo. Case No. 23-15826) on December 18, 2023, with $50,000 to $100,000 in assets and $1 million to $10 million in liabilities. Joshua Onysko, chief executive officer, signed the petition. Judge Michael E. Romero oversees the case. Jeffrey S. Brinen, Esq., at Kutner Brinen Dickey Riley, PC represents the Debtor as legal counsel. PARTS ID: Files Chapter 11, Signs Credit Agreement With Fifth Star ------------------------------------------------------------------ PARTS iD, Inc. disclosed in a Form 8-K Report filed with the Securities and Exchange Commission that the Company and its subsidiary, PARTS iD, LLC, entered into a Credit Agreement with Fifth Star, Inc., ("Fifth Star", and its various capacities, the "New Bridge Lender", the "New Money DIP Lender", the "Administrative Agent" and the "Plan Sponsor") to which certain Roll-Up DIP Lenders have joined the Credit agreement by execution of a Roll-Up Dip Lender supplement. In connection with the Company's intention to commence voluntary cases under Chapter 11 of the Bankruptcy Code, the Credit Agreement provides for a secured credit facility, pursuant to which; (i) the New Bridge Lender has provided a prepetition term loan facility in an aggregate amount of up to $3,000,000 (less $500,000 towards reimbursement of legal and financial advisory expenses of Fifth Star) prior to the Petition Date (ii) the New Money DIP Lender will provide a "new money" term loan facility in the form of post-petition debtor-in-possession financing under Section 364 of the Bankruptcy Code in an aggregate principal amount of up to $6,000,000, subject to the terms of the Credit Agreement and the DIP Order, and (iii) certain of the previous loans provided to the Company in which the Company issued various promissory notes in the aggregate principal amount of $3,300,000, and the New Bridge Loan will be exchanged into post-petition term loans thereunder. The Credit Agreement also provides that following the occurrence of (i) the failure to meet any Milestone, (ii) the occurrence of any Event of Default, (iii) the failure to satisfy the Direct Investment Commitment Conditions that have not been waived or (iv) the failure to obtain affirmative votes of the Vendor Claims in sufficient amount and number to satisfy the requirements of class acceptance under the Bankruptcy Code upon tabulation of votes received on or prior to the Voting Deadline, with such tabulation to occur within two business days following the Voting Deadline, the Plan Sponsor may, in lieu of the Plan, elect to (a) pursue a sale, pursuant to Section 363 of the Bankruptcy Code or otherwise, of all or substantially all of the Company's assets, on terms and conditions acceptable to the Plan Sponsor with the Plan Sponsor serving as the stalking horse bidder and (b) provide an additional $6,000,000 post-petition debtor-in-possession term loan facility to fund such sale process. As collateral for the obligations under the Credit Agreement, the Debtors have granted to the Administrative Agent, on behalf of the Secured Parties a security interest in all of Debtors' right, title, and interest in, to and under all of Debtors' property, subject to certain exceptions, as set forth in the Security and Pledge Agreement and the Trademark Security Agreement. Such security interest shall be subordinate to any valid, perfected and enforceable Liensecuring the Prepetition Senior Secured Obligations, including being junior to the liens granted to Lind Global Fund II LP under that certain Securities Purchase Agreement, dated as of July 17, 2023, by and between the Company and Lind. The Credit Agreement also contains other customary representations and warranties, affirmative and negative covenants and events of default that are standard for agreements of this type. Voluntary Petition for Bankruptcy As contemplated in the Credit Agreement, on December 20, 2023, the Company commenced solicitation of the Plan. Thereafter, on December 26, 2023, the Debtors filed voluntary petitions (Case Numbers. 23-12098 and 23-12099) for relief under Chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware. The Debtors have sought approval of a variety of "first-day" motions containing customary relief intended to enable the Debtors to continue ordinary course operations during the Chapter 11 Cases. The Debtors continue to operate their businesses as a "debtor-in-possession" under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court. Additionally, the Debtors have requested the Bankruptcy Court schedule a hearing to confirm the Plan by no later than February 2, 2024, with a Plan voting deadline of January 8, 2024. It is unlikely that holders of the Company's Class A common stock will receive any payment or other distribution on account of those shares following the Chapter 11 Cases. On the Plan Effective Date, the Company's existing securities shall be canceled, released, and extinguished. Prepackaged Plan of Reorganization On the Petition Date, the Debtors also filed with the Bankruptcy Court a pre-packaged Chapter 11 plan of reorganization. The Plan contemplates, among other things, the following: * the Debtors will obtain a new debtor-in-possession multi-draw term loan financing facility pursuant to the Credit Agreement, consisting of (A) new money term loans in an aggregate principal amount of up to $12,000,000, and (B) term loans not to exceed the outstanding principal and accrued but unpaid interest owed under the New Bridge Loan and Existing Bridge Loans; * on the effective date of the Plan, the Company (as reorganized, "Reorganized PARTS iD") will issue and the Plan Sponsor will purchase $26,000,000 of new preferred equity interests ("New Preferred Stock"); * on the Plan Effective Date, Reorganized PARTS iD will issue common equity interests (the "New Common Stock"); * the initial board of directors of Reorganized PARTS iD will implement a customary management incentive plan; * on the Plan Effective Date, the following distributions will be made: -- holders of New Money DIP Claims will receive their pro rata share of New Preferred Stock; -- holders of Tranche 1 Roll-Up DIP Claims and Tranche 2 Roll-Up DIP Claims (each as defined in the Plan) will receive their pro rata share of New Common Stock; -- holders of Tranche 3 Roll-Up DIP Claims will receive cash equal to the amount of such Tranche 3 Roll-Up DIP Claims; -- holders of Senior Secured Note Claims will receive cash in the aggregate amount of $4,224,500 minus any payments made to such Holders on account of such claims during the Chapter 11 Cases; -- holders of MCA Claims will receive either the Wave Distribution or the RCNY Distribution, as applicable (each as defined in the Plan); -- holders of Subordinated Secured Note Claims will be entitled to receive two (2) of the following, provided, however, that no holder of a Subordinated Secured Note Claim will receive, in the aggregate, more than 100% of amount of such holder's Subordinated Secured Note Claim: (i) payment in cash of 55% of such Subordinated Secured Note Claim; (ii) such holder's pro rata share from the net recoveries (after payments of fees, litigation financing and taxes) from the Litigation Proceeds; and (iii) payment in cash upon the achievement of an EBITDA target to be agreed between the Plan Sponsor and the Debtors; -- holders of Vendor Claims will receive cash in an amount equal to 25% of such Vendor Claim, and beginning the month following the Plan Effective Date, payment in the aggregate amount equal to 30% of its Vendor Claim, paid in equal monthly installments over a period of 36 months; and -- holders of Convenience Claims will receive cash in an amount equal to 65% of its Convenience Claim. During the Chapter 11 Cases, the Debtors intend to operate their business in the ordinary course and will seek authorization from the Bankruptcy Court to make payment in full on a timely basis to trade creditors, vendors, suppliers, customers and employees of undisputed amounts due prior to and during the Chapter 11 Cases. About PARTS iD Headquartered in Cranbury, New Jersey, PARTS iD, Inc. is a technology-driven, digital commerce company focused on creating custom infrastructure and unique user experiences within niche markets. The Company was founded in 2008 with a vision of creating a one-stop digital commerce destination for the automotive parts and accessories market. Management believes that the Company has since become a market leader and proven brand-builder, fueled by its commitment to delivering an engaging shopping experience; comprehensive, accurate and varied product offerings; and continued digital commerce innovation. Princeton NJ-based WithumSmith+Brown PC, the Company's auditor since 2020, issued a "going concern" qualification in its report dated April 17, 2023, citing that the Company has suffered recurring losses from operations, has experienced cash used from operations, and has an accumulated deficit, that raise substantial doubt about its ability to continue as a going concern. PENNSYLVANIA REAL ESTATE: Hires Kroll as Administrative Advisor --------------------------------------------------------------- Pennsylvania Real Estate Investment Trust and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Delaware to employ Kroll Restructuring Administration LLC as their administrative advisor. The firm's services include: a. assisting with, among other things, solicitation, balloting and tabulation of votes, preparing any related reports in support of confirmation of a Chapter 11 plan, and processing requests for documents; b. preparing an official ballot certification and, if necessary, testifying in support of the ballot tabulation results; c. assisting with the preparation of the Debtors' schedules of assets and liabilities and statements of financial affairs, and gathering data in conjunction therewith; d. providing a confidential data room, if requested; and e. managing and coordinating any distributions pursuant to a Chapter 11 plan; and f. providing such other processing, solicitation, balloting and other administrative services Prior to their bankruptcy filing, the Debtors provided Kroll an advance in the amount of $50,000, which was received by Kroll on Nov. 22, 2023. Benjamin Steele, a managing director at Kroll, disclosed in a court filing that his firm is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. The firm can be reached through: Benjamin J. Steele Kroll Restructuring Administration LLC 55 East 52nd Street, 17th Floor New York, NY 10055 Telephone: (212) 593-1000 About PREIT PREIT (OTCQB:PRET) ---- http://www.preit.com/---- is a real estate investment trust that owns and manages innovative properties developed to be thoughtful, community--centric hubs. PREIT's robust portfolio of carefully curated, ever--evolving properties generates success for its tenants and meaningful impact for the communities it serves by keenly focusing on five core areas of established and emerging opportunity: multifamily & hotel, health & tech, retail, essentials & grocery and experiential. Located primarily in densely populated regions, PREIT is a top operator of high quality, purposeful places that serve as one--stop destinations for customers to shop, dine, play and stay. On December 10, 2023, the Debtors voluntarily filed the Chapter 11 cases in the United States Bankruptcy Court. The Debtors filed a motion with the Bankruptcy Court seeking to jointly administer the Chapter 11 Cases under the caption "In re: Pennsylvania Real Estate Investment Trust, et al." The Hon. Karen B. Owens oversees the Case. As of Sept. 30, 2023, PREIT has $1.72 billion in total assets and total debts of $1.99 billion. DLA Piper LLP (US), Wachtell, Lipton, Rosen & Katz and Dilworth Paxson LLP are serving as legal counsel and PJT Partners LP is serving as financial advisor to PREIT. Paul Hastings LLP and Young Conaway Stargatt & Taylor, LLP are serving as legal counsel and Houlihan Lokey is serving as financial advisor to the ad hoc group of PREIT's first lien and second lien secured lenders. Paul Hastings also advises the DIP Lenders. PENNSYLVANIA REAL ESTATE: Hires Wachtell Lipton as Special Counsel ------------------------------------------------------------------ Pennsylvania Real Estate Investment Trust and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Delaware to employ Wachtell, Lipton, Rosen & Katz as their special counsel. The firm's services include: (a) continuing to represent the Debtors in connection with real estate, financing, corporate and strategic matters or acquisitions that may arise during these Chapter 11 Cases with respect to which Wachtell Lipton's historic representation of the Debtors will provide efficiency; (b) providing assistance with respect to the various existing amended and restated credit facilities and other potential financing and replacement financings related to the prepackaged restructuring plan; and (c) continuing to represent the Debtors in respect of REIT-specific governance and tax issues. The firm will be paid at these rates: Partners $1,450 to $2,100 per hour Of Counsels $1,200 to $2,100 per hour Associates $700 to $1,350 per hour Paralegals $350 to $475 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Amy Wolf, Esq., of counsel at Wachtell, Lipton, Rosen & Katz, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Amy R. Wolf, Esq. Wachtell, Lipton, Rosen & Katz 51 West 52nd Street New York, NY 100019 Tel: (212) 403-1000 Fax: (212) 403-2000 About PREIT PREIT (OTCQB:PRET) ---- http://www.preit.com/---- is a real estate investment trust that owns and manages innovative properties developed to be thoughtful, community--centric hubs. PREIT's robust portfolio of carefully curated, ever--evolving properties generates success for its tenants and meaningful impact for the communities it serves by keenly focusing on five core areas of established and emerging opportunity: multifamily & hotel, health & tech, retail, essentials & grocery and experiential. Located primarily in densely populated regions, PREIT is a top operator of high quality, purposeful places that serve as one--stop destinations for customers to shop, dine, play and stay. On December 10, 2023, the Debtors voluntarily filed the Chapter 11 cases in the United States Bankruptcy Court. The Debtors filed a motion with the Bankruptcy Court seeking to jointly administer the Chapter 11 Cases under the caption "In re: Pennsylvania Real Estate Investment Trust, et al." The Hon. Karen B. Owens oversees the Case. As of Sept. 30, 2023, PREIT has $1.72 billion in total assets and total debts of $1.99 billion. DLA Piper LLP (US), Wachtell, Lipton, Rosen & Katz and Dilworth Paxson LLP are serving as legal counsel and PJT Partners LP is serving as financial advisor to PREIT. Paul Hastings LLP and Young Conaway Stargatt & Taylor, LLP are serving as legal counsel and Houlihan Lokey is serving as financial advisor to the ad hoc group of PREIT's first lien and second lien secured lenders. Paul Hastings also advises the DIP Lenders. PENNSYLVANIA REAL ESTATE: Taps DLA Piper as Bankruptcy Counsel -------------------------------------------------------------- Pennsylvania Real Estate Investment Trust and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Delaware to employ DLA Piper LLP (US) as their counsel. The firm will render these services: (a) advise the Debtors of their rights, powers and duties as debtors and debtors in possession, while operating and managing their business and property under chapter 11 of the Bankruptcy Code; (b) prepare on behalf of the Debtors all necessary and appropriate applications, motions, proposed orders, other pleadings, notices, schedules and other documents and reviewing all financial and other reports to be filed in these Chapter 11 Cases; (c) advise the Debtors and prepare responses to, applications, motions, other pleadings, notices and other papers that may be filed by other parties in these Chapter 11 Cases; (d) advise the Debtors with respect to, and assist in the negotiation and documentation of, asset purchase agreements or other definitive transaction documentation, financing and use of cash collateral agreements and related transactions; (e) advise the Debtors regarding actions to collect and recover property for the benefit of their estates; (f) advise the Debtors concerning executory contract and unexpired lease assumptions and assignments and rejections; (g) assist the Debtors in reviewing, estimating and resolving claims asserted against the Debtors' estates; (h) assist the Debtors in complying with applicable laws and governmental regulations; and (i) provide any other services to the extent requested by the Debtors. The firm's current standard hourly rates are: 2023 2024 Richard A. Chesley (Partner) $1,615 $1,755 R. Craig Martin (Partner) $1,380 $1,595 Oksana Koltko Rosaluk (Partner) $1,220 $1,325 Aaron S. Applebaum (Of Counsel) $1,150 $1,225 Gregory M. Juell (Associate) $1,180 $1,325 David Riley (Associate) $1,115 $1,215 Malithi Fernando (Associate) $915 $1,085 Daniel Trager (Law Clerk) $730 $910 William Countryman (Paralegal) $475 $515 Richard Chesley, Esq., a partner at DLA Piper, disclosed in court filings that the firm is "disinterested" within the meaning of Section 101(14) of the Bankruptcy Code. In accordance with Appendix B-Guidelines for reviewing fee applications filed by attorneys in larger Chapter 11 cases, Mr. Chesley disclosed that the firm has not agreed to a variation of its standard or customary billing arrangements for its employment with the Debtor, and that no professional at the firm has varied his rate based on the geographic location of the Debtor's bankruptcy case. The attorney also disclosed that DLA Piper represented the Debtor in its restructuring efforts prior to the petition date, and that the firm charged its standard hourly rates, which are substantially similar to the billing rates and financial terms that the firm intends to charge for post-petition work. Mr. Chesley also disclosed that DLA Piper intends to provide an appropriate staffing plan to the Debtors. DLA Piper can be reached through: Richard Chesley, Esq. DLA Piper LLP (US) 444 West Lake Street, Suite 900 Chicago, Ill 60606-0089 Telephone: (312) 368-4000 Facsimile: (312) 236-7516 Email: richard.chesley@dlapiper.com About PREIT PREIT (OTCQB:PRET) ---- http://www.preit.com/---- is a real estate investment trust that owns and manages innovative properties developed to be thoughtful, community--centric hubs. PREIT's robust portfolio of carefully curated, ever--evolving properties generates success for its tenants and meaningful impact for the communities it serves by keenly focusing on five core areas of established and emerging opportunity: multifamily & hotel, health & tech, retail, essentials & grocery and experiential. Located primarily in densely populated regions, PREIT is a top operator of high quality, purposeful places that serve as one--stop destinations for customers to shop, dine, play and stay. On December 10, 2023, the Debtors voluntarily filed the Chapter 11 cases in the United States Bankruptcy Court. The Debtors filed a motion with the Bankruptcy Court seeking to jointly administer the Chapter 11 Cases under the caption "In re: Pennsylvania Real Estate Investment Trust, et al." The Hon. Karen B. Owens oversees the Case. As of Sept. 30, 2023, PREIT has $1.72 billion in total assets and total debts of $1.99 billion. DLA Piper LLP (US), Wachtell, Lipton, Rosen & Katz and Dilworth Paxson LLP are serving as legal counsel and PJT Partners LP is serving as financial advisor to PREIT. Paul Hastings LLP and Young Conaway Stargatt & Taylor, LLP are serving as legal counsel and Houlihan Lokey is serving as financial advisor to the ad hoc group of PREIT's first lien and second lien secured lenders. Paul Hastings also advises the DIP Lenders. PENNSYLVANIA REAL ESTATE: Taps Ordinary Course Professionals ------------------------------------------------------------ Pennsylvania Real Estate Investment Trust and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Delaware to employ and compensate professionals utilized in the ordinary course of business. Non-Exclusive List of Ordinary Course Professionals with Monthly Cap of $45,000 Kurtzman Steady, LLC 101 N. Washington Avenue, Suite 4A Margate, NJ 08402 Legal -- Landlord -- Tenant Matters Miles & Stockbridge 1751 Pinnacle Drive, Suite 1500 Tysons Corner, VA 22102--3833 Legal -- Landlord--Tenant Matters Dembo Brown & Burns LLP 1300 Route 73, Suite 205 Mt. Laurel, NJ 08054 Legal -- Landlord -- Tenant Matters Sirlin, Lesser & Benson, P.C. 123 S. Broad Street, Suite 2100 Philadelphia, PA 19109 Legal -- Landlord -- Tenant Matters Feingold Bonnet--Hebert, P.C. 25 Elm Street, Suite 201, New Bedford, MA 02740 Legal -- Landlord -- Tenant Matters Zarwin Baum Devito Kaplan 2005 Market Street, 16th Floor Philadelphia, PA 19103 Legal -- Landlord -- Tenant Matters Lerch, Early & Brewer, Chtd. 3 Bethesda Metro Center Suite 460 Bethesda, MD 20814 Legal -- Landlord -- Tenant Matters Bellamy, Rutenberg, Copeland, Epps, Gravely & Bowers, P.A. P.O. Box 357 1000 29th Avenue North Myrtle Beach, SC 29577 Legal -- Landlord -- Tenant Matters Williams Mullen 1700 Dominion Tower 999 Waterside Drive Norfolk, VA 23510 Legal -- Landlord -- Tenant and Real Estate Matters Koernke & Crampton PC The Boardwalk Suite 250 940 Monroe NW Grand Rapids MI 49503 Legal -- Landlord -- Tenant Matters Petrikin Wellman Damico Brown & Petrosa 109 Chesley Dr. Media, PA 19063 Legal -- Real Estate Matters S&F Legal, LLC 40 Morris Ave, Suite 150 Bryn Mawr, PA 19010 Legal -- Leasing Sherry Lemonick LLC 421 Chestnut Street, Unit 302 Philadelphia, PA 19106 Legal -- Leasing Kaplin Stewart Union Meeting Corporate Center 910 Harvest Drive, Suite 200 PO Box 3037 Blue Bell, PA 19422 Legal -- Land Use/Zoning Matters Buckley, Brion, McGuire & Morris, LLP 118 W. Market Street, Suite 300 West Chester, PA 19382 Legal -- Land Use/Zoning Matters Gibbs and Haller 1300 Caraway Court, Suite 102 Upper Marlboro, MD 20774 Legal -- Land Use/Zoning Matters Gingles LLC 11785 Beltsville Drive Suite 1350 Calverton, MD 20704 Legal -- Land Use/Zoning Matters Cozen O'Connor 1650 Market Street Suite 2800 Philadelphia, PA 19103 Legal -- Real Estate Matters Stradley Ronon 2005 Market Street, Suite 2600 Philadelphia, PA 19103 Legal -- Real Estate Matters Parker McCay 9000 Midlantic Drive Suite 300 Mount Laurel, NJ 08054 Legal -- Real Estate Matters Cooley LLP Reston Town Center 11951 Freedom Drive 14th Floor Reston, VA 20190-5640 Legal -- Real Estate Matters Garippa, Lotz & Giannuario P.C. 66 Park Street Montclair, NJ 07042 Legal -- Tax Matters High Swartz LLP 40 East Airy Street Norristown, PA 19401 Legal -- Tax Matters McNees Wallace & Nurick LLC 100 Pine Street PO Box 1166 Harrisburg, PA 17108-1166 Legal -- Contract Negotiation Matters O'Melveny & Myers LLP 400 South Hope Street 18th Floor Los Angeles, CA 90071 Legal -- Real Estate Matters Gavin Law LLC 305 W. Miner Street West Chester, PA 19382 Legal -- Real Estate Matters -- Leasing Shapiro Blasi Wasserman & Hermann, P.A. 7777 Glades Rd #400 Boca Raton, FL 33434 Legal -- Real Estate Matters Ausley McMullen 123 S Calhoun St. Tallahassee, FL 32301 Legal -- Real Estate Matters Mika Meyers 900 Monroe Avenue NW Grand Rapids, MI 49503 Legal -- Environmental Goulston & Storrs 730 3rd Avenue, 12th Floor New York, NY 10017 Legal -- Real Estate Matters Honigman LLP 2290 First National Building 660 Woodward Avenue Detroit, MI 48226-3506 Legal -- Real Estate Matters Fox Rothschild LLP 2000 Market St, #2000 Philadelphia, PA 19103 Legal -- IT Matters Katzke & Morgenbesser LLP 1345 6th Ave New York, NY 10105 Legal -- Compensation Matters Troutman Pepper 2 Logan Square, 3000 Arch Street Philadelphia, PA 19103 Legal -- Compensation Matters Brown & Connery LLP One Liberty Place 1650 Market Street, 36th Floor Philadelphia, PA 19103 Legal -- Local Referendum Matters Duane Morris LLP 30 S 17th Street Philadelphia, PA 19103 Legal -- Employment Matters Protiviti 2613 Camino Ramon San Ramon, CA 94583 Internal Auditor Newmark 312 Route 38 West, Suite 100, Moorestown, NJ 08057 Leasing Consultant Mid America Realty 38500 Woodland Ave, Suite 100 Bloomfield Hills, MI 48304 Leasing Consultant Bennett Williams 3528 Concord Rd York, PA 17402 Leasing Consultant C & W Thalhimer 11100 W Broad Street Glen Allen, VA 23060 Leasing Consultant Binswanger Three Logan 1717 Arch Street, Suite 5100 Philadelphia, PA 19103 Leasing Consultant Stocken Real Estate Advisors 1760 Market Street Philadelphia, PA 19103 Leasing Consultant John Mills 578 Landover Place Gahanna, OH 43230 Tax Consultant Caron & Bletzer, PLLC 1 Library Lane Kingston, NH 03848 Audit Consultant Donnelley Financial LLC 35 West Wacker Drive Chicago, IL 60601 SEC and Financial Printer Consultant Non-Exclusive List of Ordinary Course Professionals with Monthly Cap of $125,000 BDO LLP 770 Kenmoor SE, Suite 300, Grand Rapids, MI 49546 Auditor CBRE, Inc. 555 Lancaster Avenue Suite 120 Radnor, PA 19087 Leasing Consultant Dilworth Paxon 1500 Market St, Suite 3500E Philadelphia, PA 19102 Legal -- Corporate Governance Faegre Drinker One Logan Square, Suite 2000 Philadelphia, PA 19103 Legal -- Securities Matters KPMG LLP 1601 Market Street Philadelphia, PA 19103 Auditor About PREIT PREIT (OTCQB:PRET) ---- http://www.preit.com/---- is a real estate investment trust that owns and manages innovative properties developed to be thoughtful, community--centric hubs. PREIT's robust portfolio of carefully curated, ever--evolving properties generates success for its tenants and meaningful impact for the communities it serves by keenly focusing on five core areas of established and emerging opportunity: multifamily & hotel, health & tech, retail, essentials & grocery and experiential. Located primarily in densely populated regions, PREIT is a top operator of high quality, purposeful places that serve as one--stop destinations for customers to shop, dine, play and stay. On December 10, 2023, the Debtors voluntarily filed the Chapter 11 cases in the United States Bankruptcy Court. The Debtors filed a motion with the Bankruptcy Court seeking to jointly administer the Chapter 11 Cases under the caption "In re: Pennsylvania Real Estate Investment Trust, et al." The Hon. Karen B. Owens oversees the Case. As of Sept. 30, 2023, PREIT has $1.72 billion in total assets and total debts of $1.99 billion. DLA Piper LLP (US), Wachtell, Lipton, Rosen & Katz and Dilworth Paxson LLP are serving as legal counsel and PJT Partners LP is serving as financial advisor to PREIT. Paul Hastings LLP and Young Conaway Stargatt & Taylor, LLP are serving as legal counsel and Houlihan Lokey is serving as financial advisor to the ad hoc group of PREIT's first lien and second lien secured lenders. Paul Hastings also advises the DIP Lenders. PENNSYLVANIA REAL ESTATE: Taps PJT Partners as Investment Banker ---------------------------------------------------------------- Pennsylvania Real Estate Investment Trust and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Delaware to employ PJT Partners LP as their investment banker. The firm will render these services: a. assist in the evaluation of the Debtors' business and prospects; b. assist in the review and development of the Debtors' long-term business plan and related financial projections; c. assist in the development of financial data and presentations to the board of trustees and similar governing body of each entity comprising the Debtors, various creditors and other third parties; d. analyze the Debtors' financial liquidity and evaluate alternatives to improve such liquidity; e. analyze various restructuring scenarios and the potential impact of these scenarios on the recoveries of those stakeholders impacted by the Restructuring; f. provide strategic advice with regard to restructuring or refinancing the Debtors' Obligations; g. evaluate the Debtors' debt capacity and alternative capital structures; h. participate in negotiations among the Debtors and their creditors, suppliers, lessors, and other interested parties; i. value securities offered by the Debtors in connection with a Restructuring; j. advise the Debtors and negotiate with lenders with respect to potential waivers or amendments of various credit facilities; k. assist in arranging financing for the Debtors, as requested; l. provide expert witness testimony concerning any of the subjects encompassed by the other investment banking services; m. assist the Debtors in preparing marketing materials in conjunction with any possible Sale Transaction; n. assist the Debtors in identifying potential buyers or parties in interest to a Sale Transaction and assist in the due diligence process; o. assist and advise the Debtors concerning the terms, conditions, and impact of any proposed Sale Transaction; p. assist the Debtors in preparing documentation within PJT's area of expertise that is required in connection with any matters on which PJT has been engaged to advise under the Engagement Letter; q. assist and advise the Debtors' Boards of Directors in connection with the evaluation of any matters on which PJT has been engaged to advise; and r. provide such other advisory services as are customarily provided in connection with the analysis and negotiation of a transaction similar to a potential Sale Transaction, Restructuring, Mortgage Renegotiation and/or Capital Raise, as requested and mutually agreed. The firm will be compensated as follows: a. Monthly Fee: The Debtors shall pay a monthly advisory fee in the amount of $175,000. All Monthly Fees paid to PJT after $700,000 in Monthly Fees have been paid and until PJT has been paid $2,100,000 in Monthly Fees shall be credited, only once and without duplication, against any Sale Transaction Fee or Restructuring Fee payable under the Engagement Letter, up to a maximum total aggregate credit against the Sale Transaction Fee and/or Restructuring Fee of $700,000. b. Sale Transaction Fee: The Debtors shall pay a fee in respect of a Sale Transaction equal to 0.60 percent of the Sale Transaction Value, payable in cash at the closing of such Sale Transaction directly out of the gross proceeds of the Sale Transaction; provided that, (x) the aggregate amount of all Sale Transaction Fees paid under the Engagement Letter, after the crediting of any other fees in accordance with the Engagement Letter, shall not exceed $12,000,000; (y) upon consummation of a Sale Transaction in which all or substantially all of the assets of the Company are sold, PJT, in its sole discretion, shall be entitled to either a Sale Transaction Fee in respect of such Sale Transaction or the Restructuring Fee, but not both; and (z) for the avoidance of doubt, PJT shall not be entitled to both a Sale Transaction Fee and a Restructuring Fee in respect of the same transaction. c. Capital Raising Fee: The Debtors shall pay a capital raising fee for any Capital Raise, earned and payable upon the closing of such Capital Raise. If access to the financing is limited by orders of the bankruptcy court, a proportionate fee shall be payable with respect to each available commitment (irrespective of availability blocks, borrowing base, or other similar restrictions). The Capital Raising Fee will be calculated as i. Secured Debt: 1.0 percent of the total issuance and/or committed amount of secured debt financing excluding senior debt financing that is or may (or is anticipated in the future to) constitute a Structured Financing, ii. Unsecured Debt: 2.0 percent of the total issuance and/or committed amount of (A) Structured Financing, (B) junior debt financing, or (C) unsecured debt financing (including, without limitation, financing that is junior in right of payment, second lien, subordinated (structurally or otherwise) and unsecured debt, and iii. Equity Financing: 3.5 percent of the issuance and/or committed amount of equity financing, in each case, including by means of a back-stop commitment; provided that, (x) in the event of a Capital Raise not arranged by PJT but as to which the Debtors request the assistance of PJT, the Capital Raising Fee shall be calculated as 0.20 percent of the total issuance and/or committed amount of such financing, (y) to the extent that any portion of a Capital Raise is provided by an existing noteholder of or lender to the Debtors as of the effective date of the Engagement Letter (i.e., June 1, 2023), and/or their respective affiliates (Existing Lenders), 25 percent of the Capital Raising Fee paid to PJT in respect of such portion of the financing or capital raised from Existing Lenders shall, to the extent paid, be credited, only once and without duplication, against any Restructuring Fee or Sale Transaction Fees, and (z) if a Capital Raise (and the use of proceeds generated from such financing) is the only Restructuring undertaken, PJT Partners, in its sole discretion, may choose to be paid either the Capital Raising Fee or the Restructuring Fee in respect thereof, but not both. d. Mortgage Renegotiation Fee: The Debtors shall pay an additional fee equal to 0.35 percent of the amount of Obligations affected by a Mortgage Renegotiation, earned and payable upon the execution of an agreement memorializing such Mortgage Renegotiation. e. Restructuring Fee: The Debtors shall pay a fee in respect of a Restructuring equal to $7,750,000, earned and payable upon the consummation of the Restructuring. f. Expense Reimbursements: In addition to the fees described above, the Debtors agree to reimburse PJT for all reasonable and documented out-of-pocket expenses incurred during PJT's engagement. Steve Zelin, a partner in the Restructuring and Special Situations Group at PJT Partners, disclosed in a court filing that his firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Steve Zelin PJT Partners, LP 280 Park Ave New York, NY 10017 Telephone: (212) 364-7800 Email: info@pjtpartners.com About PREIT PREIT (OTCQB:PRET) ---- http://www.preit.com/---- is a real estate investment trust that owns and manages innovative properties developed to be thoughtful, community--centric hubs. PREIT's robust portfolio of carefully curated, ever--evolving properties generates success for its tenants and meaningful impact for the communities it serves by keenly focusing on five core areas of established and emerging opportunity: multifamily & hotel, health & tech, retail, essentials & grocery and experiential. Located primarily in densely populated regions, PREIT is a top operator of high quality, purposeful places that serve as one--stop destinations for customers to shop, dine, play and stay. On December 10, 2023, the Debtors voluntarily filed the Chapter 11 cases in the United States Bankruptcy Court. The Debtors filed a motion with the Bankruptcy Court seeking to jointly administer the Chapter 11 Cases under the caption "In re: Pennsylvania Real Estate Investment Trust, et al." The Hon. Karen B. Owens oversees the Case. As of Sept. 30, 2023, PREIT has $1.72 billion in total assets and total debts of $1.99 billion. DLA Piper LLP (US), Wachtell, Lipton, Rosen & Katz and Dilworth Paxson LLP are serving as legal counsel and PJT Partners LP is serving as financial advisor to PREIT. Paul Hastings LLP and Young Conaway Stargatt & Taylor, LLP are serving as legal counsel and Houlihan Lokey is serving as financial advisor to the ad hoc group of PREIT's first lien and second lien secured lenders. Paul Hastings also advises the DIP Lenders. PHIMARS SQUARE: Voluntary Chapter 11 Case Summary ------------------------------------------------- Debtor: PhiMars Square LLC 8051 Lyndon B Johnson Freeway Dallas, TX 75219 Chapter 11 Petition Date: January 1, 2024 Court: United States Bankruptcy Court Northern District of Texas Case No.: 24-30018 Debtor's Counsel: Jason P. Kathman, Esq. SPENCER FANE 5700 Granite Parkway Suite 650 Plano, TX 75024 Tel: 972-324-0300 Email: jkathman@spencerfane.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Philip Levine as manager. The Debtor failed to include in the petition a list of its 20 largest unsecured creditors. A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/PZBLTTY/PhiMars_Square_LLC__txnbke-24-30018__0001.0.pdf?mcid=tGE4TAMA PHUNWARE INC: Nasdaq Panel Schedules Hearing for March 19 --------------------------------------------------------- Phunware, Inc. disclosed in a Form 8-K filed with the Securities and Exchange Commission that the Company's request for a hearing was granted by the Nasdaq Hearings Panel and a hearing is scheduled to occur on March 19, 2024. Accordingly, any delisting action by the Nasdaq will be stayed pending the issuance of the Panel's final decision following the hearing and any extension period that may be granted by the Panel. The Company's common stock will continue to trade on the Nasdaq Capital Market under the symbol "PHUN" pending the ultimate conclusion of the appeal process. There can be no assurance that a favorable decision will be obtained from the Panel at the hearing or that the Company will be in compliance with other Nasdaq Listing Rules. On Dec. 21, 2023, the Company received a letter from Nasdaq notifying the Company that, as of Dec. 20, 2023, the Company's common stock had a closing bid price of $0.10 or less for ten consecutive trading days and that, consistent with Nasdaq Listing Rule 5810(c)(3)(A)(iii), the Nasdaq had determined to delist the Company's common stock from the Nasdaq Capital Market. The notice further provides that the Company had until Dec. 28, 2023 to appeal the Nasdaq's decision to delist the Company's common stock. Furthermore, on Dec. 22, 2023, the Company timely submitted a request for a hearing before the Nasdaq Hearings Panel to appeal the Nasdaq's delisting determination. About Phunware Headquartered in Austin, Texas, Phunware, Inc. -- http://www.phunware.com-- offers a fully integrated software platform that equips companies with the products, solutions and services necessary to engage, manage and monetize their mobile application portfolios globally at scale. Phunware reported a net loss of $50.89 million for the year ended Dec. 31, 2022, compared to a net loss of $53.52 million for the year ended Dec. 31, 2021. As of March 31, 2023, the Company had $45.46 million in total assets, $23.55 million in total liabilities, and $21.90 million in total stockholders' equity. In its Quarterly Report for the three months ended Sept. 30, 2023, Phunware reported that for the nine months ended September 30, 2023, the Company incurred a net loss of [$29,772,000] used [$15,869,000] in cash for operations and have a working capital deficiency of [$12,721,000]. These conditions raise substantial doubt about the Company's ability to meet its financial obligations as they become due. PHUNWARE INC: Ryan Costello Resigns From Board ---------------------------------------------- Phunware, Inc. disclosed in a Form 8-K filed with the Securities and Exchange Commission that Ryan Costello notified the Company of his voluntary resignation from the Company's board of directors and from the Audit Committee, the Compensation Committee and the Nominating and Corporate Governance Committee of the Board, effective Dec. 31, 2023. Mr. Costello serves as chairperson of the Company's Board and the Company's Compensation Committee. According to the Company, Mr. Costello's resignation is not due to any disagreement with the Company, its management, the Board or any committee thereof, or with respect to any matter relating to the Company's operations, policies, or practices. Upon effectiveness of Mr. Costello's resignation, the Company's Board will now consist of three directors, only two of which are considered independent under applicable Nasdaq rules. Furthermore, Mr. Costello's resignation will reduce the number of independent directors serving on the Company's Audit Committee to two. About Phunware Headquartered in Austin, Texas, Phunware, Inc. -- http://www.phunware.com-- offers a fully integrated software platform that equips companies with the products, solutions and services necessary to engage, manage and monetize their mobile application portfolios globally at scale. Phunware reported a net loss of $50.89 million for the year ended Dec. 31, 2022, compared to a net loss of $53.52 million for the year ended Dec. 31, 2021. As of March 31, 2023, the Company had $45.46 million in total assets, $23.55 million in total liabilities, and $21.90 million in total stockholders' equity. In its Quarterly Report for the three months ended Sept. 30, 2023, Phunware reported that for the nine months ended September 30, 2023, the Company incurred a net loss of [$29,772,000] used [$15,869,000] in cash for operations and have a working capital deficiency of [$12,721,000]. These conditions raise substantial doubt about the Company's ability to meet its financial obligations as they become due. PILL CLUB PHARMACY: Creditors to Get Proceeds From Liquidation -------------------------------------------------------------- The Pill Club Pharmacy Holdings, LLC, and its affiliates filed with the U.S. Bankruptcy Court for the Northern District of Texas a Disclosure Statement describing Joint Chapter 11 Plan of Liquidation dated December 28, 2023. The Pill Club was the nation's largest online provider of contraceptives, offering over 120 brands of birth control, emergency contraceptives, and female condoms to patients across the country. The Pill Club owned two nationally licensed pharmacies, operating out of two physical pharmacy locations that ship to all 50 states and Washington, D.C. The two pharmacies, MobiMeds, Inc. and MedPro Pharmacy, LLC (together, the "Pharmacies"), filled prescriptions and billed pharmacy insurance on behalf of patients. On the Petition Date, to liquidate the Debtors in a manner that will maximize recoveries for the Debtors' stakeholders, the Debtors commenced chapter 11 cases in the Bankruptcy Court. The Debtors sought joint administration of the Chapter 11 Cases for procedural purposes, and have since filed, among other things, (i) the Plan, and (ii) this Disclosure Statement. Among other things, the Plan contemplates the following: * the liquidation and wind-down of the Debtors will be funded by the proceeds of those certain Sale Transactions approved by the Bankruptcy Court pursuant to which the Debtors sold substantially all of their assets and the proceeds of avoidance actions; * all Allowed Secured Claims, Allowed Priority Claims, Professional Claims, and Administrative Claims will be paid in full in Cash or receive such other treatment that renders such Claims unimpaired under the Bankruptcy Code; * each Allowed General Unsecured Claim will receive a distribution, on a Debtor by Debtor basis, equal to its Pro Rata share of Available Cash of such Debtor remaining after payment in full of the Allowed Secured Claims, the Allowed Priority Claims, and the Professional Claims; * Each Intercompany Claim will receive a distribution, on a Debtor by Debtor basis, equal to its Pro Rata share of Available Cash of such Debtor remaining after payment in full of the Allowed Secured Claims, the Allowed Priority Claims, the Professional Claims, and the Allowed General Unsecured Claims; * Each Equity Interest shall be canceled, released, and extinguished as of the Effective Date, and will be of no further force or effect, and holders of such Claims or Interests will not receive any distribution on account of such Allowed Claims or Interests; * each Executory Contract and Unexpired Lease shall be deemed rejected, without the need for any further notice to or action, order, or approval of the Bankruptcy Court, as of the Effective Date under Sections 365 and 1123 of the Bankruptcy Code, unless such Executory Contract and Unexpired Lease: (i) has been previously rejected by the Debtors, (ii) as of the Effective Date is subject to a pending motion to assume such Executory Contract or Unexpired Lease; (iii) is a contract, release, or other agreement or document entered into in connection with the Plan; or (iv) is a D&O Policy or an insurance policy; and * on the Effective Date, by virtue of entry of the Confirmation Order, all actions contemplated by the Plan (including any action to be undertaken by the Liquidating Trustee) shall be deemed authorized, approved, and, to the extent taken prior to the Effective Date, ratified without any requirement for further action by holders of Claims or Interests, the Debtors, or any other Entity or Person. All matters provided for in the Plan involving the corporate structure of the Debtors, and any corporate action required by the Debtors in connection therewith, shall be deemed to have occurred and shall be in effect, without any requirement of further action by the Debtors or the Debtors' Estates. Combined, the Pepper Park Sale Order and the Twentyeight Health Sale Order resulted in the disposition of substantially all of the assets of the Debtors' Estates, other than Litigation Claims. Since the closing of the Sale Transactions, the Debtors have ceased operations and have focused on wind down activities and formulating and confirming the Plan. The Debtors primary remaining assets consist of less than $1 million in cash and Litigation Claims. The Plan is designed to accomplish the orderly liquidation of the Debtors' Estates and Distribution of the proceeds of such liquidation to the beneficiaries of the Estates. Classes 3A, 3B, 3C, 3D, 3E, 3F, 3G, and 3H consist of any General Unsecured Claims against the Debtors. Each holder of an Allowed Claim in Classes 3A, 3B, 3C, 3D, 3E, 3F, 3G, and 3H will receive a distribution, on a Debtor by Debtor basis, equal to its Pro Rata share of Available Cash of such Debtor remaining after payment in full of the Allowed Class 2 Claims. Classes 3A, 3B, 3C, 3D, 3E, 3F, 3G, and 3H are Impaired under the Plan. Class 4 consists of the Intercompany Claims against each of the Debtors. Each Allowed Claim in this class is assigned to a separate subclass. Class 4 Intercompany Claims will receive a distribution, on a Debtor by Debtor basis, equal to its Pro Rata share of Available Cash of such Debtor remaining after payment in full of the Allowed Class 3 Claims. Each Equity Interest in Classes 5A, 5B, 5C, 5D, 5E, 5F, 5G, and 5H will be canceled, released, and extinguished as of the Effective Date, and will be of no further force or effect, and holders of Equity Interests in Classes 5A, 5B, 5C, 5D, 5E, 5F, 5G, and 5H will not receive any distribution on account of such Equity Interest in Classes 5A, 5B, 5C, 5D, 5E, 5F, 5G, and 5H. The Plan provides for the distribution of all Cash held by or for the benefit of the Debtors on and after the Effective Date. In addition to Cash on hand, the Debtors' property consists primarily of the Debtors' rights with respect to the Insurance Policies, including the D&O Policies, and the proceeds of the NOL Sale, once received. Finally, the proceeds of all Causes of Action shall vest in a trust for the benefit of the Debtors' Estates. A full-text copy of the Disclosure Statement dated Dec. 28, 2023 is available at from https://urlcurt.com/u?l=srX12e from BMC Group, Inc., claims agent. Counsel to the Debtors: Katherine A. Preston, Esq. WINSTON & STRAWN LLP 800 Capitol Street, Suite 2400 Houston, Texas 77002 Tel: (713) 651-2600 Email: kpreston@winston.com Daniel J. McGuire, Esq. WINSTON & STRAWN LLP 35 W. Wacker Drive Chicago, Illinois 60601-9703 Tel: (312) 558-5600 Email: dmcguire@winston.com Timothy W. Walsh, Esq. WINSTON & STRAWN LLP 200 Park Avenue New York, New York 10166-4193 Tel: (212) 294-6700 E-mail: twwalsh@winston.com About The Pill Club Pharmacy The Pill Club Pharmacy Holdings, LLC, is a digital healthcare platform. The company says it is "on a mission to empower women and people who menstruate to lead their healthiest lives." It combines telemedicine and direct-to-consumer pharmacy. Pill Club Pharmacy Holdings and its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Lead Case No. 23-41090) on April 18, 2023. In the petition signed by Elizabeth Meyerdirk, chief executive officer, the Debtors disclosed up to $50,000 in assets and up to $50 million in liabilities. Judge Edward L. Morris oversees the cases. The Debtors tapped Katherine A. Preston, Esq., at Winston and Strawn, LLP as general bankruptcy counsel; Accordion Partners, LLC as financial advisor; and BMC Group, Inc., as claims, noticing, solicitation and administrative agent. The U.S. Trustee for Region 6 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee is represented by Akerman, LLP and Buchalter, A Professional Corporation. PITA FRANCHISING: Unsecureds to Get $20K Per Month for 36 Months ---------------------------------------------------------------- Pita Franchising, LLC, filed with the U.S. Bankruptcy Court for the Northern District of Georgia a Subchapter V Plan of Reorganization dated December 28, 2023. The Debtor is the franchisor of the PITA Mediterranean Street Food brand, which is a quick service fast food pita restaurant (the "Business"). There are approximately 20 franchisees. The Debtor leases its office premises having an address of 222 Fairburn Industrial Boulevard, Suite C, Georgia 30213 from Rabai Investments, LLC. The Debtor and Rabai Investments, LLC are affiliated entities in that Nour Rabai is the owner and manager of both entities. Several of the franchisees filed pre-Petition Complaints alleging the Debtor's defaults under the franchise agreements. The Debtor denies the allegations; however, the time and expense incurred in defending the allegations proved to be a distraction from operating the Business. In order to focus properly on Business operations and reorganize its debts, the Debtor filed its voluntary petition for relief under Chapter 11 Subchapter V of the Bankruptcy Code on September 30, 2023 ("Petition Date"). This Plan deals with all property of the Debtor and provides for treatment of all Claims against the Debtor and its property. Class 5 shall consist of General Unsecured Claims. Class 5 consists of General Unsecured Claims including any potential deficiency claims pursuant to Sections 506 and 522(f) of the Bankruptcy Code. Debtor believes but does not warrant that attached as Exhibit A is a list of all known Allowed General Unsecured Claims in the aggregate amount of approximately $328,834.62. The Allowed Claims of the Class 5 Creditors are Impaired by the Plan. If the Plan is confirmed under section 1191(a) of the Bankruptcy Code, Debtor shall pay to the Class 5 General Unsecured Creditors holding Allowed Claims, in full satisfaction of their respective Allowed Unsecured Claims, a pro rata share $20,000.00 per month, commencing on the 1st Business Day of the 1st month immediately following the Effective Date and continuing on the 1st Business Day of each month thereafter for no more than a total of 36 monthly payments until in full satisfaction of the Allowed Class 5 General Unsecured Claims. The Debtor estimates that if the Plan is confirmed consensually under Section 1191(a), then Class 5 creditors holding Allowed General Unsecured Claims will receive Distributions totaling 100% of their Allowed General Unsecured Claims after having received approximately 16.5 monthly post-confirmation Plan payments. If the Plan is confirmed under section 1191(b) of the Bankruptcy Code, Class 5 shall be treated the same as if the Plan was confirmed under section 1191(a) of the Bankruptcy Code. Class 6 consists of the Interests of the Equity Holder of the Debtor. The Equity Holder will retain his Interest in the Reorganized Debtor as such Interest existed as of the Petition Date. This class is not impaired and is not eligible to vote on the Plan. The source of funds for the payments pursuant to the Plan is the future income of the Debtor from its normal business operations. A full-text copy of the Subchapter V Plan dated December 28, 2023 is available at https://urlcurt.com/u?l=npcNV9 from PacerMonitor.com at no charge. Attorney for the Debtor: Paul Reece Marr, Esq. Paul Reece Marr, PC 1640 Powers Ferry Road 6075 Barfield Road, Suite 213 Sandy Springs, GA 30328 Telephone: (770) 984-2255 Email: paul.marr@marrlegal.com About Pita Franchising Pita Franchising, LLC, is the franchisor of the PITA Mediterranean Street Food brand, which is a quick service fast food pita restaurant. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 23-59597) on Sept. 30, 2023. In the petition signed by Nour Rabai, manager, the Debtor disclosed under $1 million in both assets and liabilities. Judge Paul W. Bonapfel oversees the case. Paul Reece Marr, Esq., at Paul Reece Marr, PC, is the Debtor's legal counsel. REVELATION OIL: Case Summary & 11 Unsecured Creditors ----------------------------------------------------- Debtor: Revelation Oil & Gas, LLC 130 N. Dumas Ave. Dumas, TX 79029 Business Description: Revelation Oil specializes in revitalizing low volume oil and gas production. Chapter 11 Petition Date: January 2, 2024 Court: United States Bankruptcy Court Northern District of Texas Case No.: 24-20002 Debtor's Counsel: Max R. Tarbox, Esq. TARBOX LAW, P.C. 2301 Broadway Lubbock, TX 79401 Tel: (806) 686-4448 Fax: (806) 368-9785 Email: tami@tarboxlaw.com Estimated Assets: $100,000 to $500,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Charles Blake Stringer as managing member. A full-text copy of the petition containing, among other items, a list of the Debtor's 11 unsecured creditors is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/YJIH6XY/Revelation_Oil__Gas_LLC__txnbke-24-20002__0001.0.pdf?mcid=tGE4TAMA RKS ENTERPRISES: Seeks to Hire John Warekois CPA as Accountant -------------------------------------------------------------- RKS Enterprises, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Oregon to employ John Warekois CPA LLC as its accountant. The firm's services include preparation of 2022 State and Federal tax returns for the Debtor, payroll and payroll tax report services, preparation of monthly operating reports, and bookkeeping. In addition, the accountant will provide tax and financial advice relating to the Debtor's ongoing tax situation. The firm received a retainer in the amount of $2,000 on Oct, 23, 2023 for the preparation of the 2022 tax returns. As disclosed in court filings, John Warekois does not represent interests adverse to the Debtor and its estate. The firm can be reached through: John Warekois, CPA John Warekois, CPA LLC 1150 Crater Lake Ave, Suite I Medford, OR 97504 Phone: (541) 772-2410 Email: jwarekois_feedback@oregontaxcpa.com About RKS Enterprises RKS Enterprises, Inc. filed a petition for relief under Subchapter V of Chapter 11 of the Bankruptcy Code (Bankr. D. Ore. Case No. 23-62181) on Nov. 22, 2023. In the petition filed by Karen Summers, president, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Thomas M. Renn oversees the case. Keith Y. Boyd, PC serves as the Debtor's counsel. ROCKY MOUNTAIN: Mark Dennis of SL Biggs Named Subchapter V Trustee ------------------------------------------------------------------ The U.S. Trustee for Region 11 appointed Mark Dennis, a certified public accountant at SL Biggs, as Subchapter V trustee for Rocky Mountain FineWines, LLC. Mr. Dennis will be paid an hourly fee of $400 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Dennis declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Mark D. Dennis, CPA SL Biggs, A Division of SingerLewak, LLP 2000 S. Colorado Blvd., Tower 2, Ste. 200 Denver, CO 80222 Phone: 303-226-5471 Email: mdennis@slbiggs.com About Rocky Mountain FineWines Rocky Mountain FineWines, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case No. 23-15883) on December 20, 2023, with $50,001 to $100,000 in both assets and liabilities. Judge Michael E. Romero oversees the case. Aaron A. Garber, Esq., represents the Debtor as legal counsel. ROMAN CATHOLIC: Unsecureds to Split $4 Million in Plan ------------------------------------------------------ The Roman Catholic Diocese of Rockville Centre, New York, submitted a Modified First Amended Chapter 11 Plan of Reorganization. Subject to Section 503(b)(1)(D) of the Bankruptcy Code, holders of Administrative Expense Claims, other than a Professional Fee Claim or a Claim for fees due and payable pursuant to Section 1930(a)(6) of title 28 of the United States Code, must file and serve on the Debtor requests for the payment of such Claims not previously Allowed by a Final Order in accordance with the procedures specified in the Confirmation Order, on or before the Administrative Expense Claims Bar Date, or such Claims shall be automatically Disallowed, forever barred from assertion, and unenforceable against the Debtor or the Reorganized Debtor, the Estate, or their property without the need for any objection by the Reorganized Debtor or further notice to, or action, order, or approval of the Bankruptcy Court, and any such Claims shall be deemed fully satisfied, released, and discharged. Each holder of an Allowed Administrative Expense Claim shall receive, on account of and in full and complete settlement, release and discharge of, and in exchange for, such Claim, payment of cash in an amount equal to such Allowed Administrative Expense Claim on or as soon as reasonably practicable after the later of: (a) the Effective Date; (b) the first Business Day after the date that is thirty (30) calendar days after the date such Administrative Expense Claim becomes an Allowed Administrative Expense Claim; (c) such other date(s) as such holder and the Debtor or the Reorganized Debtor shall have agreed; or (d) such other date ordered by the Bankruptcy Court; provided, however, that Allowed Administrative Expense Claims that arise in the ordinary course of the Debtor' operations during the Chapter 11 Case may be paid by the Debtor or the Reorganized Debtor in the ordinary course of business and in accordance with the terms and conditions of the particular agreements governing such obligations, course of dealing, course of operations, or customary practice. Under the Plan, Class 3 General Unsecured Claims are impaired. Each holder thereof will, subject to the holder's ability to elect Convenience Claim treatment on account of the Allowed General Unsecured Claim, receive such holder's Pro Rata share of the GUC Plan Distribution. "GUC Plan Distribution" means $4.0 million, less amounts paid on account of Convenience Claims. The Debtor or the Reorganized Debtor, as applicable, will fund Plan Distributions and the Trusts will fund distributions from Trust Assets in accordance with the Trust Documents. Counsel for the Debtor: Corinne Ball, Esq. Todd Geremia, Esq. Benjamin Rosenblum, Esq. Andrew Butler, Esq. JONES DAY 250 Vesey Street New York, NY 10281-1047 Telephone: (212) 326-3939 Facsimile: (212) 755-7306 E-mail: cball@jonesday.com brosenblum@jonesday.com tgeremia@jonesday.com abutler@jonesday.com A copy of the Modified First Amended Chapter 11 Plan of Reorganization dated Dec. 22, 2023, is available at https://tinyurl.ph/TiwaZ from Stretto, the claims agent. About The Roman Catholic Diocese of Rockville Centre, New York The Roman Catholic Diocese of Rockville Centre, New York, is the seat of the Roman Catholic Church on Long Island. The Diocese has been under the leadership of Bishop John O. Barres since February 2017. The State of New York established the Diocese as a religious corporation in 1958. The Diocese is one of eight Catholic dioceses in New York, including the Archdiocese of New York. The Diocese's total Catholic population is approximately 1.4 million, roughly half of Long Island's total population of 3.0 million. The Diocese is the eighth largest diocese in the United States when measured by the number of baptized Catholics. To deal with sexual abuse claims, the Roman Catholic Diocese of Rockville Centre, New York, filed a Chapter 11 petition (Bankr. S.D.N.Y. Case No. 20-12345) on Sept. 30, 2020, listing as much as $500 million in both assets and liabilities. Judge Martin Glenn oversees the case. The Diocese tapped Jones Day as legal counsel, Alvarez & Marsal North America, LLC, as restructuring advisor, and Sitrick and Company, Inc., as communications consultant. Epiq Corporate Restructuring, LLC is the claims agent. The U.S. Trustee for Region 2 appointed an official committee of unsecured creditors in the Diocese's Chapter 11 case. The committee tapped Pachulski Stang Ziehl & Jones, LLP and Ruskin Moscou Faltischek, PC as its bankruptcy counsel and special real estate counsel, respectively. Robert E. Gerber, the legal representative for future claimants of the Diocese, is represented by the law firm of Joseph Hage Aaronson, LLC. S & J SERVICE: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------ Debtor: S & J Service, Inc. 5133 Frolich Ln Suite D Hyattsville MD 20781 Business Description: S & J Service is a construction service company specializing in heavy highway, site and underground utilities, and electrical construction work. The Company provides a multitude of full-scale utilities and infrastructure services including: storm drain, sanitary sewer, water mainline, structural services, electrical conduit installation, electrical structural repairs, surface restoration, manhole rehabilitation, plumbing, and other electrical work. Chapter 11 Petition Date: January 2, 2024 Court: United States Bankruptcy Court District of Maryland Case No.: 24-10018 Debtor's Counsel: Daniel Staeven, Esq. FROST LAW 839 Bestgage Drive Suite 400 Annapolis MD 21401 Tel: 410-497-5947 Email: ann.jordan@askfrost.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Jose Gregorio as president. A full-text copy of the petition containing, among other items, a list of the Debtor's 20 largest unsecured creditors is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/UE6VJTY/S__J_Service_Inc__mdbke-24-10018__0001.0.pdf?mcid=tGE4TAMA SALEM MEDIA: Secures $26M Revolving Facility From Siena Lending --------------------------------------------------------------- Salem Media Group, Inc. announced that it has closed a new $26.0 million 3-year asset-based revolving credit facility with Siena Lending Group, which refinanced its prior revolving facility with Wells Fargo Bank. Obligations under the New Revolving Facility are secured by a first-priority lien on the Company's and its subsidiaries' accounts receivable, inventory, deposit and securities accounts, certain real estate and related assets, and a second-priority lien on substantially all other assets of the Company and its subsidiaries. About Salem Media Headquartered in Texas, Salem -- www.salemmedia.com -- is a domestic multimedia company specializing in Christian and conservative content, with media properties comprising radio broadcasting, digital media, and publishing. Its content is intended for audiences interested in Christian and family-themed programming and conservative news talk. As of Sept. 30, 2023, the Company had $471.30 million in total assets, $339.15 million in total liabilities, and $132.15 million in total stockholders' equity. * * * As reported by the TCR on Sept. 25, 2023, Moody's Investors Service downgraded Salem Media Group, Inc.'s Corporate Family Rating to Caa3 from Caa1. Moody's said the downgrade of the CFR to Caa3 reflects Salem's weak operating performance pressured by subdued radio advertising demand, high financial leverage, a deteriorating liquidity profile and the uncertainty around the company's ability to refinance its $25 million ABL revolving facility before its expiration in March 2024. Also in September 2023, S&P Global Ratings lowered its issuer credit rating on Salem Media Group Inc.to 'CCC-' from 'CCC'. S&P said the negative outlook reflects the potential for a default or debt restructuring over the next six months. SCFT2 LLC: Hires Elliman Real Estate as Real Estate Broker ---------------------------------------------------------- SCFT2 LLC filed an amended application seeking approval from the U.S. Bankruptcy Court for the Southern District of New York to employ Douglas Elliman Real Estate Altman Brothers Team as real estate broker. The expiration date of the listing agreement regarding the Debtor's real property located at 515 Arkell Dr, Beverly Hills, CA 90210-1905 was changed to Dec. 31, 2023. About SCFT2 LLC SCFT2, LLC, a New York-based company, filed its voluntary petition for Chapter 11 protection (Bankr. S.D.N.Y. Case No. 23-10904) on June 6, 2023, with as much as $1 million to $10 million in both assets and liabilities. Ron Curtis, manager, signed the petition. Judge Lisa G. Beckerman oversees the case. The Law Offices of Gabriel Del Virginia serves as the Debtor's bankruptcy counsel. SCHON ELISE: Amends Bank of West & 8876 Spanish Secured Claims -------------------------------------------------------------- Schon Elise, LLC, submitted a First Amended Proposed Disclosure Statement to accompany Plan of Reorganization dated December 28, 2023. The Debtor's business is suited for, and in need of, the broad protection afforded by Chapter 11. The Debtor should be able to effectuate a reconstruction of its financial condition through a plan of reorganization. Debtor has entered into a contract to sell Lot 1-21, APN 163-29-712-024 for the sale price of $1,250,000.00. A Motion to Approve the latter sale was filed on September 13, 2023 and was initially set for hearing on October 18, 2023. Wills' bankruptcy trustee Robert Atkinson filed an objection to the Motion on October 4, 2023. Hearing on the motion was continued to November 8, 2023. Schon Elise subsequently filed several additional declarations and supplements to the motion in order to address the objections that were raised by the trustee. In addition, secured creditor Bank of the West filed a limited opposition to the Motion to Approve which identified certain conditions that it required to be met as a condition to consenting to any such sale. The Debtor was generally amendable to the conditions imposed by Bank of the West and stipulated to them on the record. At the continued hearing on November 8, 2023, any remaining objections were over-ruled and the sale was approved by order entered November 15, 2023. The Order included the terms agreed to between Debtor and Bank of the West. The sale closed on December 8, 2023. Class 1 consists of the Bank of the West deed of trust against the Real Property. Secured creditor shall retain its first position Deed of Trust against Debtor's real property and shall retain its liens securing its claim until it is paid in full. $1,167,913.21 was paid to it from the December closing of the 024 Parcel. The balance of the secured debt (estimated $1,058,000) shall be paid in full through a cash infusion on or before 7 court says after the effective date. Class A-2 consists of the Allowed Secured Claim held by 8876 Spanish Ridge Assoc for unpaid assessments against the Property. $32,281.56 was owed as of the date of closing on the 024 parcel. It is estimated that approximately $30,000 in arrears is still owed on the 023 parcel. All arrears owed to the Association for the 024 Parcel were paid from the sale proceeds of Parcel 024 such that no additional distributions for that Parcel will be made pursuant to the Proposed Plan. All sums due and owing on the 023 Parcel shall be paid in full through a cash infusion on or before 7 court days after the effective date. The Amended Disclosure Statement does not alter the proposed treatment for unsecured creditors and the equity holder: * Class B-1 consists of all Unsecured Allowed Claims. There are no unsecured claims. In the event they are deemed to exist, Class B Allowed Claims shall be paid in an amount equal to 100% of the Allowed Claim, without interest, on or before 60 days from the effective date. * Class C consists of allowed claims held by insiders. This class is comprised of the $368,413.00 claim held by Dustin Industries for construction and maintenance at the Real Property. The Insider Claim of Dustin Industries shall not be paid through this proposed plan or reorganization but shall be assumed by and remain valid against the Reorganized Debtor. * All equity interests will be cancelled. Any member who makes a cash contribution will receive a membership interest in Schon Elise commensurate with the amount of the new capital contribution. It is anticipated that only Dustin Belinski will contribute new cash, then he will become 100% owner of the reorganized debtor. It is estimated that $1,200,000 in new cash will be needed to payoff the balance owed to Bank of the West, administrative fees and any other obligations owed under the Proposed Plan. Assuming Dustin Belinski is the only member who funds the proposed plan, then Dustin Belinski shall be the sole owner of the Reorganized Debtor and Debtor shall primarily operate the Reorganized Debtor post-confirmation through Dustin Belinski. Though its not anticipated that this will occur, the Wills are permitted to make a capital contribution of up to 48.02% of all sums that are required to fund this plan of reorganization. A full-text copy of the First Amended Disclosure Statement dated December 28, 2023 is available at https://urlcurt.com/u?l=yZ8Byi from PacerMonitor.com at no charge. Attorney for Debtor: David Mincin, Esq. Mincin Law, PLLC 7465 W. Lake Mead Boulevard, #100 Las Vegas, NV 89128 Tel: (702) 852-1957 Email: dmincin@mincinlaw.com About Schon Elise Las Vegas-based Schon Elise, LLC is a single asset real estate (as defined in 11 U.S.C. Section 101(51B)). Schon Elise filed its voluntary Chapter 11 petition (Bankr. D. Nev. Case No. 23-12086) on May 24, 2023, with as much as $50,000 in assets and $1 million to $10 million in liabilities. Heath Wills, manager, signed the petition. Judge Mike K. Nakagawa oversees the case. David Mincin, Esq., at Mincin Law, PLLC, is the Debtor's bankruptcy counsel. SHAMBHALA TREATMENT: Seeks to Extend Plan Exclusivity to February 5 ------------------------------------------------------------------- Shambhala Treatment Center LLC and Crockett Pathways LLC asked the U.S. Bankruptcy Court for the Southern District of Texas to extend the deadline to file their plan of reorganization and disclosure statement and extend exclusivity from January 3, 2024 to February 5, 2024. The Debtors explained that: (1) the parties have to prepare for and attend Konstantin Savvon's motion to dismiss hearing on January 3, 2024; (2) they must to prepare for and attend a hearing on Wild Frontier Acquisitions, LLC's Notice of Termination of Stay and Debtors' Compliance with the December 20, 2023 court order; (3) Wild Frontier Acquisitions, LLC's motion to lift the automatic stay set for January 22, 2024 at 1:30 p.m. Shambhala Treatment Center LLC and Crockett Pathways LLC are represented by: Margaret M. McClure, Esq. 25420 Kuykendahl, Suite B-300-1043 The Woodlands, TX 77375 Tel: (713) 659-1333 Email: margaret@mmmcclurelaw.com About Shambhala Treatment Center, LLC Shambhala is a Single Asset Real Estate debtor (as defined in 11 U.S.C. Section 101 (51B)). Shambhala Treatment Center LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 23-33463) on Sep. 5, 2023. The petition was signed by Chong Sophia Han as representative of the Debtor. At the time of filing, the Debtor estimated $1 million to $10 million in both assets and liabilities. Judge Eduardo V Rodriguez oversees the case. Charles Clinton Hunter, Esq. at Hayes Hunter, PC represents the Debtor as counsel. SHORT FORK FARMS: Seeks to Tap Craig M. Geno as Bankruptcy Counsel ------------------------------------------------------------------ Short Fork Farms, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Mississippi to hire the Law Offices of Craig M. Geno, PLLC as its counsel. The firm's services include: a. advising and consulting with the Debtor regarding questions arising from certain contract negotiations during the operation of the Debtor's business; b. evaluating and objecting to claims of various creditors who may assert security interests in the assets and who may seek to disturb the continued operation of the business; c. appearing in, prosecuting, or defending suits and proceedings, and taking all necessary steps and other matters involved in or connected with the affairs of the estate of the Debtor; d. representing the Debtor in court hearings and assisting in the preparation of legal documents; e. advising and consulting with the Debtor in connection with any proposed Chapter 11 reorganization plan; and f. providing other necessary legal services. The Law Offices of Craig M. Geno will be paid at these rates: Craig M. Geno $450 per hour Associates $275 per hour Paralegals $225 per hour The firm received a retainer in the amount of $15,000. Craig Geno, Esq., an attorney at the Law Offices of Craig M. Geno, disclosed in a court filing that his firm is a "disinterested person" pursuant to Section 101(14) of the Bankruptcy Code. The firm can be reached through: Craig M. Geno, Esq. LAW OFFICES OF CRAIG M. GENO, PLLC 587 Highland Colony Parkway Ridgeland, MS 39157 Tel: (601) 427-0048 Fax: (601) 427-0050 Email: cmgeno@cmgenolaw.com About Short Fork Farms LLC Short Fork Farms LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Miss. Case No. 23-13661) on November 30, 2023. In the petition signed by Guy Hendrix, member the Debtor disclosed up to $50,000 in both assets and liabilities. Craig M. Geno, Esq., at Law Offices of Craig M. Geno, PLLC, represents the Debtor as legal counsel. SHORT FORK: Seeks to Hire Craig M. Geno as Bankruptcy Counsel ------------------------------------------------------------- Short Fork Development, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Mississippi to hire the Law Offices of Craig M. Geno, PLLC as its counsel. The firm's services include: a. advising and consulting with the Debtor regarding questions arising from certain contract negotiations during the operation of the Debtor's business; b. evaluating and objecting to claims of various creditors who may assert security interests in the assets and who may seek to disturb the continued operation of the business; c. appearing in, prosecuting, or defending suits and proceedings, and taking all necessary steps and other matters involved in or connected with the affairs of the estate of the Debtor; d. representing the Debtor in court hearings and assisting in the preparation of legal documents; e. advising and consulting with the Debtor in connection with any proposed Chapter 11 reorganization plan; and f. providing other necessary legal services. The Law Offices of Craig M. Geno will be paid at these rates: Craig M. Geno $450 per hour Associates $275 per hour Paralegals $225 per hour The firm received a retainer in the amount of $15,000. Craig Geno, Esq., an attorney at the Law Offices of Craig M. Geno, disclosed in a court filing that his firm is a "disinterested person" pursuant to Section 101(14) of the Bankruptcy Code. The firm can be reached through: Craig M. Geno, Esq. LAW OFFICES OF CRAIG M. GENO, PLLC 587 Highland Colony Parkway Ridgeland, MS 39157 Tel: (601) 427-0048 Fax: (601) 427-0050 Email: cmgeno@cmgenolaw.com About Short Fork Development Short Fork Development, LLC, a company in Hernando, Miss., filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Miss. Case No. 23-13660) on Nov. 30, 2023, with $1 million to $10 million in both assets and liabilities. Guy Hendrix, member, signed the petition. Craig M. Geno, Esq., at the Law Offices of Craig M. Geno, PLLC represents the Debtor as bankruptcy counsel. SKIN BY ASK: Eric Huebscher Named Subchapter V Trustee ------------------------------------------------------ The U.S. Trustee for Region 2 appointed Eric Huebscher of Huebscher & Co. as Subchapter V trustee for Skin by Ask, LLC. Mr. Huebscher will be paid an hourly fee of $425 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Huebscher declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Eric Huebscher Huebscher & Co. 301 E 87th St. - 20E New York, NY 10128 Phone: 917-763-3891 Email: ehuebscher@huebscherconsulting.com About Skin by Ask Skin by Ask, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D.N.Y. Case No. 23-11308) on December 20, 2023, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Michael Leo Boyle, Esq., at Boyle Legal, LLC represents the Debtor as legal counsel. SPEEDWAY AUTO: Seeks to Hire Buddy D. Ford P.A. as Legal Counsel ---------------------------------------------------------------- Speedway Auto Sales 27, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to employ Buddy D. Ford, P.A. as counsel. The Debtor requires legal counsel to: (a) analyze the financial situation, and rendering advice and assistance to the Debtor in determining whether to file a petition under Title 11, United States Code; (b) give advice regarding the powers and duties of the Debtor in the continued operation of its business and management of the estate's property; (c) prepare and file schedules of assets and liabilities, statement of affairs, and other documents required by the court; (d) represent the Debtor at the Section 341 creditors' meeting; (e) advice the Debtor with respect to its powers and duties as Debtor and as Debtor-in-Possession in the continued operation of its business and management of its property; if appropriate; (f) advise the Debtor with respect to its responsibilities in complying with the United States Trustee's Operating Guidelines and Reporting Requirements and with the rules of the court; (g) prepare legal papers; (h) protect the interest of the Debtor in all matters pending before the court; (i) represent the Debtor in negotiation with its creditors in the preparation of a Chapter 11 plan; and (j) perform all other necessary legal services for the Debtor. The firm will be paid at these rates: Buddy D. Ford, Esq. $450 per hour Senior Associate Attorneys $400 per hour Junior Associate Attorneys $350 per hour Senior Paralegal Services $150 per hour Junior Paralegal Services $100 per hour In addition, the firm will seek reimbursement for expenses incurred. Prior to the commencement of its Chapter 11 case, the Debtor paid the firm an advance fee of $23,738. Buddy Ford, Esq., disclosed in a court filing that his firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Buddy D. Ford, Esq. Jonathan A. Semach, Esq. Heather M. Reel, Esq. BUDDY D. FORD, P.A. 9301 West Hillsborough Avenue Tampa, FL 33615-3008 Tel: (813) 877-4669 Email: Buddy@tampaesq.com Jonathan@tampaesq.com Heather@tampaesq.com About Speedway Auto Sales 27, LLC Speedway Auto Sales 27, LLC is a pre-owned vehicle dealership located in Florida. Speedway Auto Sales 27, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 23-05737) on Dec. 19, 2023. The petition was signed by Suyapa Duran as manager. At the time of filing, the Debtor estimated up to $50,000 in assets and $1 million to $10 million in liabilities. Buddy D. Ford, Esq. at BUDDY D. FORD, P.A. represents the Debtor as counsel. SPI ENERGY: Shareholders Elect 5 Directors ------------------------------------------ SPI Energy Co., Ltd. disclosed in a Form 8-K filed with the Securities and Exchange Commission that it held its Annual Meeting of Shareholders during which the shareholders: (1) elected Xiaofeng Peng, HoongKhoeng Cheong, Maurice Wai-fung Ngai, Lu Qing, and Jing Zhang as directors to serve for one-year terms expiring on the date of the Annual Meeting in 2024; and (2) ratified the appointment of Marcum Asia CPAs LLP as the Company's independent registered public accounting firm for the fiscal year ending Dec. 31, 2023. About SPI Energy Co. SPI Energy Co., Ltd. is a global renewable energy company and provider of solar storage and EV solutions that was founded in 2006 in Roseville, California and is now headquartered in McClellan Park, California. SPI Energy reported a net loss of $33.72 million for the year ended Dec. 31, 2022, compared to a net loss of $44.83 million for the year ended Dec. 31, 2021. As of Dec. 31, 2022, the Company had $231.09 million in total assets, $213.22 million in total liabilities, and $17.87 million in total equity. New York, New York-based Marcum Asia CPAs LLP, the Company's auditor since 2018, issued a "going concern" qualification in its report dated April 14, 2023, citing that the Company has a significant working capital deficit, has incurred significant losses and needs to raise additional funds to sustain its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. STARNET LLC: Unsecureds to Get $500 per Month for 60 Months ----------------------------------------------------------- Starnet, LLC, filed with the U.S. Bankruptcy Court for the Northern District of Texas a Disclosure Statement describing its Chapter 11 Plan dated December 28, 2023. The Debtor is the owner of a residential property at 2413 Brairwood Drive, Cedar Hill, Texas ("Property"). The Debtor has constructed the Property with the Plan on reselling the Property. The market for high end luxury homes has softened and the Debtor has been unable to refinance or sell the Property. The Debtor's secured lender posted the Property to foreclosure which prompted the filing. The Debtor has currently listed the Property for sale. The Debtor believed that the real estate market for this type of Property will increase in the first quarter of 2024 as a result of anticipated decreasing interest rates. The Debtor shall refinance or sell the Property. After the filing of this case, the Debtor entered into an Agreed Order with its secured lender to allow the Debtor time to market the Property while paying the lender adequate protection payments. The Debtor is current with those payments. The Reorganized Debtor will continue in business until the sale of the Property. The Plan will break the existing claims in 6 categories of Claimants. These claimants will receive cash payments on the effective date. Class 5 consists of General Unsecured Claims. All Allowed General Unsecured Creditors shall receive their pro rata share of 60 monthly payments of $500 commencing 90 days after the effective date. All amounts due the Allowed Unsecured Creditor under this Plan shall be due and payable upon the sale or refinancing on the Property. The Class 5 Creditors are impaired under this Plan. Class 6 consists of Current Equity Owners. The current equity owners shall retain his existing interests. The Class 6 equity owner is not impaired under this Plan. Debtor shall receive a cash infusion from its principal Paul Farve to pay the required payments under this Plan, until the Property has been sold or refinanced. A full-text copy of the Disclosure Statement dated December 28, 2023 is available at https://urlcurt.com/u?l=RWDKxS from PacerMonitor.com at no charge. Attorneys for Debtor: Eric A. Liepins, Esq. ERIC A. LIEPINS, PC 12770 Coit Road, Suite 850 Dallas, TX 75251 Telephone: (972) 991-5591 Facsimile: (972) 991-5788 Email: eric@ealpc.com About Starnet LLC Starnet, LLC, is a single asset real estate as defined in 11 U.S.C. Section 101(51B). The Debtor is the owner in fee simple title of a real property located at 2413 Briarwood Cove, Cedar Hill, Texas, valued at $1.6 million. Starnet sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 23-31943) on Sep. 1, 2023. In the petition filed by its managing member, Paul Faure, the Debtor reported $1,000,001 to $10 million in total assets and total liabilities. Eric A. Liepins, Esq., at Eric A. Liepins PC, is the Debtor's counsel. STATEN ISLAND JEWISH: Gets OK to Hire Alla Kachan, PC as Counsel ---------------------------------------------------------------- Staten Island Jewish Heritage Network Inc. received approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire the Law Offices of Alla Kachan, P.C. as counsel. The firm will provide these services: a. assisting Debtor in administering this case; b. making such motions or taking such action as may be appropriate or necessary under the Bankruptcy Code; c. representing Debtor in prosecuting adversary prosecuting to collect assets of the estate such other actions as Debtor deem appropriate; d. taking such steps as may be necessary for Debtor to marshal and protect the estate's assets; e. negotiating with Debtor's creditors in formulating a plan of reorganization for Debtor in this case; f. drafting and prosecuting the confirmation of Debtor's plan of reorganization in this case; and g. rendering such additional services as Debtor may require in this case. The firm will be paid at these rates: Attorney $475 per hour Clerk and Paraprofessional $250 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Alla Kachan, a partner at Law Offices of Alla Kachan, P.C., disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Alla Kachan, Esq. LAW OFFICES OF ALLA KACHAN, P.C. 2799 Coney Island Avenue., Suite 202 Brooklyn, NY 11235 Telephone: (718) 513-3145 Email: alla@kachanlaw.com About Staten Island Jewish Heritage Network Staten Island Jewish Heritage Network Inc. owns real property located at 3495 Richmond Rd, Staten Island NY valued at $1.7 million. Staten Island Jewish Heritage Network Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. N.Y. Case No. 23-42581) on July 21, 2023. The petition was signed by Steven Uzhansky as president. At the time of filing, the Debtor estimated $1,700,088 in assets and $2,902,436 in liabilities. Judge Elizabeth S. Stong presides over the case. Alla Kachan, Esq. at LAW OFFICES OF ALLA KACHAN, P.C. represents the Debtor as counsel. STATEN ISLAND JEWISH: Hires Wisdom Professional as Accountant ------------------------------------------------------------- Staten Island Jewish Heritage Network Inc. received approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire Wisdom Professional Services Inc. as accountant. The firm will provide these services: a. gathering and verifying all pertinent information required to compile and prepare monthly operating reports; and b. preparing monthly operating reports for the Debtor. The firm will be paid at a rate of $375 per report and the expected estimate monthly cost of services is $375. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. The firm received from the Debtor a retainer of $4,500. Michael Shtarkman, CPA, a member of Wisdom Professional Services, disclosed in a court filing that the firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael Shtarkman, CPA Wisdom Professional Services Inc. 626 Sheepshead Bay Road Suite 640 Brooklyn, NY 11224 Tel: (718) 554-6672 Email: mshtarkmancpa@gmail.com About Staten Island Jewish Heritage Network Staten Island Jewish Heritage Network Inc. owns real property located at 3495 Richmond Rd, Staten Island NY valued at $1.7 million. Staten Island Jewish Heritage Network Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. N.Y. Case No. 23-42581) on July 21, 2023. The petition was signed by Steven Uzhansky as president. At the time of filing, the Debtor estimated $1,700,088 in assets and $2,902,436 in liabilities. Judge Elizabeth S. Stong presides over the case. Alla Kachan, Esq. at LAW OFFICES OF ALLA KACHAN, P.C. represents the Debtor as counsel. STEEL METHOD: Mark Hall Named Subchapter V Trustee -------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Mark Hall, Esq., a partner at Fox Rothschild, LLP, as Subchapter V trustee for The Steel Method, LLC. Mr. Hall will be paid an hourly fee of $425 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Hall declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Mark E. Hall, Esq. Fox Rothschild, LLP 49 Market Street Morristown, NJ 07960 Phone: (973) 548-3314 Email: mhall@foxrothschild.com About Steel Method Steel Method, LLC, a company in Fairfield, N.J., filed Chapter 11 petition (Bankr. D. N.J. Case No. 23-21620) on December 15, 2023, with up to $500,000 in assets and up to $10 million in liabilities. David Sieradzky, chief executive officer and owner, signed the petition. Anthony Sodono, III, Esq., at McManimon, Scotland & Baumann, LLC represents the Debtor as legal counsel. STOWERS TRUCKING: Hires Caldwell & Riffee as Substitute Counsel --------------------------------------------------------------- Stowers Trucking, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of West Virginia to employ Caldwell & Riffee, PLLC to serve as substitute counsel. The firm will render these services: a. provide the Debtor with legal advice with respect to its powers and duties as Debtor in Possession; b. assist the Debtor in negotiating the exact claim of the Internal Revenue Service; c. prepare an agreement with the IRS about treatment of its claim; d. amend the Disclosure Statement and Plan; and e. consider whether liquidation prior to a Plan would be in the best interest of the bankruptcy estate and creditors. Joseph W. Caldwell, Esq., a partner at Caldwell & Riffee, PLLC, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Joseph W. Caldwell, Esq. Caldwell & Riffee, PLLC P.O. Box 4427 Charleston, WV 25364 Tel: (304) 925-2100 Email: jcaldwell@caldwellandriffee.com About Stowers Trucking Stowers Trucking LLC filed a Chapter 11 bankruptcy petition (Bankr. S.D. W. Va. Case No. 22-20125) on July 7, 2022, with up to $500,000 in both assets and liabilities. Judge B. Mckay Mignault oversees the case. James M. Pierson, Esq., at Pierson Legal Services is the Debtor's legal counsel. STRATEGIES 360: Committee Hires DBS Law as Bankruptcy Counsel ------------------------------------------------------------- The official committee of unsecured creditors of Strategies 360, Inc. seeks approval from the U.S. Bankruptcy Court for the Western District of Washington to hire DBS Law as its counsel. The firm will advise the committee regarding its duties under the Bankruptcy Code and will provide other legal services related to the Debtor's Chapter 11 case. The firm will be paid at these rates: Daniel J. Bugbee $510 per hour Dominique R. Scalia $440 per hour Claire L. Rootjes $415 per hour Paralegals $200 per hour DBS Law does not and will not represent any other entity having an adverse interest in connection with the case while employed by the committee, according to court filings. The firm can be reached through: Daniel J. Bugbee, Esq. DBS LAW 155 NE 100th Street, Suite 205 Seattle, WA 98125 Office: 206.489.3802 Direct: (206) 489-3819 E-mail: dbugbee@lawdbs.com About Strategies 360, Inc. Strategies 360, Inc. is a full-service communications firm with offices in eleven states, the District of Columbia, and British Columbia. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. D.C. Case No. 23-12303-TWD) on November 27, 2023. In the petition signed by John Rosenberg, chief financial officer, the Debtor disclosed up to $10 million in assets and up to $50 million in liabilities. Judge Timothy W. Dore oversees the case. Thomas A. Buford, Esq., at Bush Kornfeld LLP, represents the Debtor as legal counsel. STRINGER FARMS: Case Summary & 11 Unsecured Creditors ----------------------------------------------------- Debtor: Stringer Farms, Inc. 130 N. Dumas Ave. Dumas, TX 79029 Chapter 11 Petition Date: January 2, 2024 Court: United States Bankruptcy Court Northern District of Texas Case No.: 24-20001 Debtor's Counsel: Max R. Tarbox, Esq. TARBOX LAW, P.C. 2301 Broadway Lubbock, TX 79401 Tel: (806) 686-4448 Fax: (806) 368-9785 Email: tami@tarboxlaw.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $1 million to $10 million The petition was signed by Charles Blake Stringer as president. A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/YAE75SA/Stringer_Farms_Inc__txnbke-24-20001__0001.0.pdf?mcid=tGE4TAMA List of Debtor's 11 Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Agrisompo North America $2,121 P.O. Box 69 Wolfforth, TX 79382-0069 2. Forshey & Prostok LLC $270,000 777 Main Street Ste. 1550 Fort Worth, TX 76102 3. Frontier Fuel $2,426 PO Box 128 Dalhart, TX 79022 4. Herring Bank $1,331,422 2201 Civic Circle Amarillo, TX 79109 5. Internal Revenue Service $18,835 P.O. Box 21126 Philadelphia, PA 19114 6. Johnson & Sheldon, PLLC $4,381 P.O. Box 509 Amarillo, TX 79105 7. Moore Co. Tax $33,056 Assessor-Collector P.O. Box 618 Dumas, TX 7902 8. Rita Blanca $126 P.O. Box 1947 Dalhart, TX 79022-5947 9. Texas Mutual Workers' $639 Compensation Insur P.O. Box 841843 Dallas, TX 75284-1843 10. West Texas Gas $35,664 P.O. Box 39 Dalhart, TX 79022 11. Zion Bank $4,215,844 500 Fifth Street Ames, IA 50010-0630 SWING AWAY: Seeks to Hire McNamee Hosea as Bankruptcy Counsel ------------------------------------------------------------- Swing Away Sports, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Virginia to employ McNamee Hosea, P.A. as its attorneys. The firm's services include: a. prepare and file all necessary bankruptcy pleadings on behalf of the Debtor; b. negotiate with creditors; c. represent Debtor to Adversary and other proceedings in connection with the Bankruptcy; d. prepare the Debtor's disclosure statement and plan of reorganization; and e. provide any other services related to the Bankruptcy and the Debtor's reorganization. The firm will be paid at these rates: Craig M. Palik $425 per hour Justin P. Fasano $400 per hour Associates $300 to $350 per hour Paralegal $135 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. The initial retainer payment of $11,738 was paid by Christopher Bourassa, the manager of the Debtor. Craig M. Palik, Esq., a partner at McNamee Hosea, P.A., disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Craig M. Palik, Esq. Justin P. Fasano, Esq. MCNAMEE HOSEA, P.A. 6404 Ivy Lane, Suite 820 Greenbelt, MD 20770 Tel: (301) 441-2420 Fax: (301) 982-9450 Email: cpalik@mhlawyers.com jfasano@mhlawyers.com About Swing Away Sports, LLC Swing Away Sports, LLC is a Virginia limited liability company. The Debtor operates a baseball-oriented sports and entertainment facility located at 20051 Riverside Commons Plaza, Suite 100 | Ashburn, VA 20147 d/b/a "The Ballpark Loudoun." The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 23-12057) on Dec. 15, 2023. In the petition signed by Christopher Bourassa, manager, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Craig M. Palik, Esq., at McNamee Hosea, PA, represents the Debtor as legal counsel. T&T STEPHENS: Craig Geno Named Subchapter V Trustee --------------------------------------------------- The Acting U.S. Trustee for Region 5 appointed Craig Geno, Esq., at the Law Offices of Craig M. Geno, PLLC as Subchapter V trustee for T&T Stephens Trucking LLC. Mr. Geno will be paid an hourly fee of $250 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Geno declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Craig M. Geno, Esq. Law Offices of Craig M. Geno, PLLC 587 Highland Colony Parkway Ridgeland, MS 39157 Phone: (601) 427-0048 Fax: (601) 427-0050 Email: cmgeno@cmgenolaw.com About T&T Stephens Trucking T&T Stephens Trucking, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Miss. Case No. 23-13823) on December 18, 2023, with $100,001 to $500,000 in both assets and liabilities. Judge Jason D. Woodard oversees the case. Jason D. Woodard, Esq., represents the Debtor as legal counsel. THAI KITCHEN: Unsecureds Will Get 4% of Claims over 3 Years ----------------------------------------------------------- Thai Kitchen, LLC, filed with the U.S. Bankruptcy Court for the Northern District of Texas a Small Business Chapter 11 Plan of Reorganization dated December 28, 2023. The Debtor is a Texas limited liability company which owns and operates a Thai food restaurant located at 2302 Texas Avenue, Lubbock, TX 79411. The company's sole member is Winai Sitthigarana. As with many food providers, the Debtor was impacted by the COVID 19 pandemic. To alleviate the financial strains the pandemic caused on the Debtor, the Debtor had to acquire an Economic Injury Disaster Loan (the "EIDL Loan") from the U.S. Small Business Administration (the "SBA"). Additionally, to keep things afloat, the Debtor took out several merchant cash advance loans from merchant cash advance lenders. Ultimately, these loans and the onerous repayment terms caused for the Debtor to seek relief under the bankruptcy code. Debtor's Plan of Reorganization provides for the continued operations of the Debtor to make payments to its creditors as set forth in this Plan. Debtor seeks to confirm a consensual plan of reorganization so that all payments to creditors required under the Plan will be made directly by the Debtor to its creditors. Non-priority unsecured creditors holding allowed claims will receive distributions, which the proponent of this Plan has valued at approximately 4 cents on the dollar. This Plan also provides for the payment of administrative and priority claims in full. Class 3 consists of General Unsecured Creditors. Claims of all other Creditors of the Debtor, including deficiency Claims, as the same are Allowed and ordered to be paid by the Bankruptcy Court, including but not limited to the Creditors whose Claims may arise out of the rejection of executory contracts or unexpired real or personal property leases, and secured Creditors to the extent that the Bankruptcy Court finds that such Creditors' Claims are unsecured in whole or in part, make up Class 3 under the Plan. The Plan provides for the Debtor to make quarterly payments over the next three years to Allowed General Unsecured Creditors such that Allowed General Unsecured Creditors will receive approximately 4% of the amount of their Allowed Claim. The total projected to be paid to Allowed General Unsecured Creditors over the three-year period is $22,000. The first quarterly payment is expected to be made on April 5, 2024 and will continue on the 5th day of the next month following the end of each quarter. To assure the Debtor is able to make each quarterly payment, the Debtor will set aside each month from its operations sufficient funds to make accumulate sufficient funds each month to make the quarterly payments. For the first year, quarterly payments will be in the amount of $1,500 each quarter. For the second year, quarterly payments will be in the amount of $1,750 each quarter. For the third year, quarterly payments will be in the amount of $2,250 each quarter. Class 4 consists of Equity Interest Holders. Winai Sitthigarana shall remain the 100% owner of the Debtor. Winai Sitthigarana will continue to serve as the managing member of the Debtor and be entitled to compensation for his role as president of the Debtor. Mr. Sitthigarana's compensation will be $5,000 per month. The Debtor will continue to operate its restaurant business. The Debtor intends to fund the Plan through continued operations of the Debtor's business. Debtor seeks to restructure its debts the SBA and other creditors to improve its cash flow and ease its ability to make payments under this Plan. The Debtor may also seek to reject certain leases or contracts that are burdensome to the Debtor's operations. A full-text copy of the Plan of Reorganization dated December 28, 2023 is available at https://urlcurt.com/u?l=hLYOoF from PacerMonitor.com at no charge. Attorneys for the Debtor: Brad W. Odell, Esq. Mullin Hoard & Brown, LLP P.O. Box 2585 Lubbock, TX 79408 Telephone: (806) 765-7491 Facsimile: (806) 765-0553 Email: bodell@mhba.com About Thai Kitchen Thai Kitchen, LLC, operates a Thai food restaurant in West Texas. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Texas Case No. 23-50184) on Oct. 2, 2023, with up to $50,000 in assets and up to $1 million in liabilities. Frances Smith, Esq., at Ross, Smith & Binford, PC, has been appointed as Subchapter V trustee. Judge Robert L. Jones oversees the case. Brad W. Odell, Esq., at Mullin Hoard & Brown, LLP, is the Debtor's legal counsel. URBAN ONE: Incurs $53.7 Million Net Loss in Third Quarter --------------------------------------------------------- Urban One, Inc. filed with the Securities and Exchange Commission its Quarterly Report on Form 10-Q disclosing a net loss of $53.71 million on $117.83 million of net revenue for the three months ended September 30, 2023, compared to a net income of $3.75 million on $121.25 million of net revenue for the same period in 2022. For the nine months ended September 30, 2023, the Company reported a net income of $15.03 million on $357.35 million of net revenue compared to a net income of $37.80 million on $352.04 million of net revenue for the same period in 2022. As of September 30, 2023, Urban One had $1.19 billion in total assets, $891.52 million in total liabilities, $21.82 million in redeemable noncontrolling interests and $278.71 million in total stockholders' equity. A full-text copy of the Form 10-Q is available at http://tinyurl.com/2s3a2rb8 About Urban One Urban One, Inc., formerly known as Radio One, Inc., headquartered in Silver Spring, Md., is an urban-oriented multimedia company that operates or owns interests in radio broadcasting stations (32% of revenue as of LTM Q4 2022) generated by 66 stations in 13 markets, cable television networks (43% of revenue), an 80% ownership in Reach Media (9% of revenue), and ownership of Interactive One, its digital platform, as well as other internet-based properties (16% of revenue), largely targeting an African-American and urban audience. The Chairperson, Catherine L. Hughes, and President, Alfred C. Liggins III (Chairperson's son), maintain voting control and hold a significant ownership position. The company reported consolidated revenue of $485 million as of LTM Q4, 2022. Moody's Investors Service affirmed Urban One, Inc.'s B3 Corporate Family Rating, B3-PD Probability of Default Rating, and B3 senior secured notes rating. The speculative grade liquidity rating was upgraded to SGL-1 from SGL-2 reflecting very good liquidity. The outlook was changed to stable from positive. The affirmation of the CFR and stable outlook reflect Urban One's relatively high pro forma leverage (4.9x as of Q4 2022 pro forma for sale of the company's minority ownership position in MGM National Harbor, LLC (National Harbor) and including Moody's standard adjustments) as well as Moody's expectations that operating performance will decline in 2023 due to lower political advertising revenue in a non-election year and from lower cable TV revenue. Cable TV was a source of strength during the pandemic, but is likely to be pressured from lower ratings and a decline in subscribers as consumers continue to migrate to streaming services from cable TV. Social considerations were a key driver of the rating action, as Moody's expects the negative secular pressures in the cable TV division to increase as media consumption continues to migrate to streaming services. USA RV: Case Summary & 20 Largest Unsecured Creditors ----------------------------------------------------- Debtor: USA RV, LLC 5317 Fayetteville Road Raleigh, NC 27603 Business Description: USA RV is a locally owned and operated company that sells new and used recreational vehicles (RVs). Chapter 11 Petition Date: January 1, 2024 Court: United States Bankruptcy Court Eastern District of North Carolina Case No.: 24-00001 Debtor's Counsel: Danny Bradford, Esq. PAUL D. BRADFORD, PLLC 455 Swiftside Drive Suite 106 Cary, NC 27518-7198 Tel: (919) 758-8879 Fax: (919) 803-0683 Email: dbradford@bradford-law.com Total Assets: $2,850,847 Total Liabilities: $4,487,838 The petition was signed by David W. Hall as member. A full-text copy of the petition containing, among other items, a list of the Debtor's 20 largest unsecured creditors is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/PVIAH7A/USA_RV_LLC__ncebke-24-00001__0001.0.pdf?mcid=tGE4TAMA VBI VACCINES: Further Extends Forbearance With Lenders to Jan. 9 ---------------------------------------------------------------- VBI Vaccines Inc. disclosed in a Form 8-K filed with the Securities and Exchange Commission that the Company along with its subsidiary VBI Cda, as borrowers, and with K2 HealthVentures LLC and any other lender from time-to-time party thereto, as lenders, agreed to further extend the Forbearance Period through and including Jan. 9, subject to compliance by the Borrowers with the same terms and conditions as set forth in the Forbearance Agreement. On Nov. 13, 2023, the Borrowers entered into the Forbearance Agreement with the Lenders pursuant to which the Lenders agreed to forbear from exercising the Secured Parties' rights with respect to the failure to meet the minimum Net Revenue (as defined in the Loan Agreement) covenant for the measurement period ended Sept. 30, 2023, from Nov. 13, 2023, through and including Nov. 28, 2023, subject to compliance by the Borrowers with certain terms and conditions as set forth in the Forbearance Agreement. Additionally, as previously disclosed, on Nov. 28, 2023 and Dec. 12, 2023, effective as of the same dates, the Borrowers and the Lenders agreed to extend the Forbearance Period through and including Dec. 12, 2023 and Dec. 26, 2023, respectively, subject to compliance by the Borrowers with the same terms and conditions as set forth in the Forbearance Agreement. There is no assurance that the Company will be able to meet the conditions set forth in the Forbearance Agreement, which will result in a termination of the Forbearance Period. In addition, the Forbearance Agreement is not a waiver by K2HV of the Company's obligation to meet the covenants pursuant to the Loan Agreement. Accordingly, K2HV may declare an Event of Default after the end of the Forbearance Period, and there is no assurance that the Company would be able to enter into another forbearance agreement for any additional periods. Upon occurrence and during the continuance of an Event of Default, K2HV is entitled to declare all obligations under the Loan Agreement immediately due and payable and to stop advancing money or extending credit under the Loan Agreement, and the applicable rate of interest will be increased by 5.00% per annum. About VBI Vaccines VBI Vaccines Inc. -- www.vbivaccines.com -- is a biopharmaceutical company driven by immunology in the pursuit of powerful prevention and treatment of disease. Through its innovative approach to virus-like particles ("VLPs"), including a proprietary enveloped VLP ("eVLP") platform technology, VBI develops vaccine candidates that mimic the natural presentation of viruses, designed to elicit the innate power of the human immune system. VBI is committed to targeting and overcoming significant infectious diseases, including hepatitis B, coronaviruses, and cytomegalovirus (CMV), as well as aggressive cancers including glioblastoma (GBM). VBI is headquartered in Cambridge, Massachusetts, with research operations in Ottawa, Canada, and a research and manufacturing site in Rehovot, Israel. VBI Vaccines reported a net loss of $113.30 million for the year ended Dec. 31, 2022, a net loss of $69.75 million for the year ended Dec. 31, 2021, a net loss of $46.23 million for the year ended Dec. 31, 2020, a net loss of $54.81 million for the year ended Dec. 31, 2019, and a net loss of $63.60 million for the year ended Dec. 31, 2018. Iselin, New Jersey-based EisnerAmper LLP, the Company's auditor since 2016, issued a "going concern" qualification in its report dated March 13, 2023, citing that the Company faces several risks, including but not limited to, uncertainties regarding the success of the development and commercialization of its products, demand and market acceptance of the Company's products, and reliance on major customers. The Company anticipates that it will continue to incur significant operating costs and losses in connection with the development and commercialization of its products. The Company has an accumulated deficit as of Dec. 31, 2022 and cash outflows from operating activities for the year-ended Dec. 31, 2022 and, as such, will require significant additional funds to conduct clinical and non-clinical trials, commercially launch its products, and achieve regulatory approvals that raise substantial doubt about its ability to continue as a going concern. VESTTOO LTD: Feb. 6 Hearing on Plan & Disclosures Set ----------------------------------------------------- Mary F. Walrath has entered an order approving on an interim basis the Disclosure Statement of Vesttoo Ltd., et al. The dates and deadlines set forth below are approved: Entry of Solicitation Procedures Order is on Dec. 20, 2023. Voting Record Date is on Dec. 20, 2023. Solicitation/Service Deadline is on Dec. 26, 2023. Cure Notice Deadline will be on Jan. 9, 2024. Plan Supplement Filing Deadline will be on Jan. 16, 2024. Deadline for 3018 Motions will be on Jan. 23, 2024 at 4:00 p.m. (prevailing Eastern Time). Voting Deadline will be on Jan. 23, 2024 at 4:00 p.m. (prevailing Eastern Time). Combined Disclosure Statement and Plan Objection Deadline; Cure Objection Deadline will be on Jan. 23, 2024 at 4:00 p.m. (prevailing Eastern Time). Deadline for Filing (i) Balloting Report; (ii) Consolidated Reply to Objections; (iii) Responses to 3018 Motions; and (iv) Proposed Form of Confirmation Order will be on Feb. 1, 2024, at 4:00 p.m. (prevailing Eastern Time). Combined Hearing on Approval of Disclosure Statement and Confirmation of the Plan will be on Feb. 6, 2024, at 10:30 a.m. (prevailing Eastern Time). Ballots will be distributed only to all known members of Class 3 as of the Voting Record Date. Holders of General Unsecured Claims in Class 3 may elect to have their Claims treated as Convenience Claims in Class 3A by making such election pursuant to the instructions set forth on the Ballots. The votes of such Holders that make such an election will be counted in Class 3A and not in Class 3. Classes 3 and 3A are the only classes entitled to vote to accept or reject the Plan. About Vesttoo Ltd Vesttoo Ltd. is a technology-driven collateralized reinsurance provider in Tel Aviv, Israel. It connects the insurance industry with the capital markets by combining AI-powered technology with expertise in data science, insurance and finance. Vesttoo and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. (Lead Case No. 23-11160) on August 14 and 15, 2023. The Honorable Bankruptcy Judge Mary F. Walrath oversees the case. The Debtors tapped DLA Piper, LLP (US) as legal counsel and Kroll, LLC as financial advisor. Epiq Corporate Restructuring, LLC is the claims and administrative agent. The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors in the Debtor's Chapter 11 case. The committee tapped Greenberg Traurig, LLP as legal counsel and Alvarez & Marsal North America, LLC as financial advisor. WAITS R.V.: Jan. 30, 2024 Plan Confirmation Hearing Set ------------------------------------------------------- Judge Mindy A. Mora has entered an order conditionally approving the Disclosure Statement of Waits RV Center, Inc. The Court will conduct the confirmation hearing and consider final approval of the disclosure statement and any timely-filed fee applications, subject to the following deadlines and requirements on January 30, 2024, at 2:30 p.m. in U.S. Bankruptcy Courthouse, 1515 North Flagler Drive, Courtroom B, West Palm Beach, Florida 33401. These deadlines apply with respect to the confirmation hearing and hearing on fee applications: * The deadline for objections to claims is Jan. 16, 2024. * The deadline for filing and serving fee applications is Jan. 6, 2024. * The deadline for filing and serving notice summarizing all fee applications is Jan. 9, 2024. * The deadline for filing ballots accepting or rejecting the Plan is Jan. 23, 2024. * The deadline to file motions under Fed. R. Civ. P. 43(a) is Jan. 19, 2024. * The deadline for objections to confirmation is Jan. 25, 2024. * The deadline for objections to final approval of the Disclosure Statement is Jan. 25, 2024. * The Deadline for Filing Proponent's Report and Confirmation Affidavit is Jan. 25, 2024. * The Deadline for Filing Local Form 71 "Individual Debtor Certificate for Confirmation Regarding Payment of Domestic Support Obligations and Filing of Required Tax Returns" (individual cases only) is Jan. 25, 2024. * The Deadline for Filing Exhibit Register and Uploading Any Exhibits a Party Intends to Introduce into Evidence at the confirmation hearing is Jan. 25, 2024. Attorney for the Debtor: Craig I. Kelley, Esquire KELLEY KAPLAN & ELLER, PLLC 1665 Palm Beach Lakes Blvd. The Forum - Suite 1000 West Palm Beach, FL 33401 Tel: (561) 491-1200 Fax: (561) 684-3773 E-mail: bankruptcy@kelleylawoffice.com About Waits RV Center Waits R.V. Center, Inc., is a corporation organized under the laws of the State of Florida. Waits R.V. Center is owned by William Waits, who is the 100% shareholder and President of the Debtor. By way of background, Waits R.V. Center is an RV sales and servicing company with a primary business office in Riviera Beach, Florida. Waits R.V. Center sells both new and used RV's. On Oct. 15, 2023, the Debtor filed a voluntary petition for Reorganization under Chapter 11 in the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 23-18437). KELLEY KAPLAN & ELLER, PLLC, is the Debtor's counsel. WILLIAMS INDUSTRIAL: Unsecureds Owed Up to $25M to Get 3% to 5% --------------------------------------------------------------- Williams Industrial Services Group Inc., et al., submitted a Combined Chapter 11 Plan of Liquidation and Disclosure Statement, dated Dec. 22, 2023. Prior to the Chapter 11 cases, with Greenhill's assistance, the Debtors negotiated an Asset Purchase Agreement with buyer EnergySolutions Nuclear Services, LLC, pursuant to which it would be the stalking horse bidder for substantially all of the Debtors' operating assets pursuant to a Section 363 sale process. Pursuant to the Asset Purchase Agreement, EnergySolutions offered to (i) pay $60 million, and (ii) assume certain liabilities of WPS, WSS, Electrical, Holdings, WISG and WIS. On Aug. 19, 2023, the Court entered an order approving the bidding procedures. The Debtors, with Greenhill's assistance, continued to market the business and solicit offers. However, no additional bids were received, and an auction was not held. On Sept. 7, 2023, the Court entered an order approving the sale of assets to the Stalking Horse Bidder. The closing of the sale occurred on September 18, 2023. Proceeds derived from the Sale repaid the outstanding indebtedness owed under the DIP Revolving Facility and the DIP Term Facility in full. While the Pre-Petition Term Lenders received a distribution from the Sale proceeds in the amount of $22,731,090, the Pre-Petition Term Obligations were not repaid in full. The outstanding principal balance of the Pre-Petition Term Obligations, together with unpaid accrued interest and fees, is approximately $14.8 million. Under the Plan, Class 4 General Unsecured Claims total $15,000,000 to $25,000,000. Each Holder of an Allowed General Unsecured Claim in Class 4 will receive its Pro Rata share of the remaining balance of the Committee Settlement Amounts after payment of Allowed Fees of the Committee's Professionals. Each Holder of an Allowed Class 4 General Unsecured Claim will thereafter receive on subsequent Distribution Dates as may be established by the Creditor Trustee in accordance with the Creditor Trust Agreement, its Pro Rata share of Net Available Unsecured Proceeds in full satisfaction, settlement and release of its Class 4 General Unsecured Claim. Each Class 4 Holder's Pro Rata share of Net Available Unsecured Proceeds will be calculated as the ratio of the amount of its Allowed Class 4 Claim to the amount of all Class 4 and Class 5 Claims, whether Allowed or Disputed. Creditors will recover 3-5% of their claims. Class 4 is impaired. "Committee Settlement Amounts" shall have the meaning ascribed to it in Section 2.4(b) of the Plan. Section 2.4(b) provides: The Final DIP Order provided a carve out for the payment of Allowed Professional Fees incurred in accordance with the Debtors' Approved Budget (the "Carve Out Reserve Account"). The Final DIP Order also provided a carve out from the proceeds of Sale for General Unsecured Creditors (the "Committee Settlement Amounts"). The Committee Settlement Amounts included: (a) $500,000, plus certain additional funds based on the extent of the Term Lenders' deficiency claim; and (b) an additional $500,000, less any amounts actually paid from the line item in the Debtors' Approved Budget designated as "KERP." As a result of the foregoing adjustments, the Committee Settlement Amounts total $785,000. The DIP Term Agent and the DIP Term Lenders expressly waived any right to recovery from the Committee Settlement Amounts "Net Available Unsecured Proceeds" means the gross proceeds available for distribution to Holders of Allowed Class 4 and Class 5 Unsecured Claims realized from the collection, liquidation, disposition and/or recovery of property that was not subject to valid, perfected, enforceable and unavoidable security interests on the Effective Date, less (a) the actual and reasonable fees and expenses of the Creditor Trustee, including reasonable attorneys' fees, (b) amounts required by the Plan to be paid to the Holders of Allowed Administrative Claims, Professional Fee Claims, Priority Tax Claims and Other Priority Claims, and (c) funds deposited in the Professional Fee Reserve Account and Administrative Claim Reserve Account established by the Creditor Trustee pursuant to Sections 13.2 and 13.4 of the Plan, in each case with respect to the amounts described in clauses (a), (b), and (c) immediately above, if, and to the extent (i) such amounts were paid or funded by cash collateral subject to the Pre-Petition Term Agent's security interest or such amounts were otherwise paid or funded by the Pre-Petition Term Lenders, and (ii) there is insufficient cash collateral subject to the Pre-Petition Term Agent's security interest to make such payments or fund such amounts. For the avoidance of doubt, Net Available Unsecured Proceeds shall not include the Committee Settlement Amounts. Bankruptcy Code section 1129(a)(11) requires that confirmation of a plan not be likely to be followed by the liquidation, or the need for further financial reorganization of the Debtors or any successor to the Debtors (unless such liquidation or reorganization is proposed in the Plan). Inasmuch as the Assets have been, or will be, liquidated, and the Plan provides for the Distribution of all of the Cash proceeds of the Assets to Holders of Claims that are Allowed in accordance with the Plan, for purposes of this test, the Debtors have analyzed the ability of the Creditor Trustee to meet its obligations under the Plan. Based on the Debtors' analysis, the Creditor Trustee will have sufficient assets to accomplish its tasks under the Plan. Therefore, the Debtors believe that the liquidation pursuant to the Plan will meet the feasibility requirements of the Bankruptcy Code. On the Effective Date, the Debtors shall transfer and convey all right, title, and interest in the Creditor Trust Assets to the Creditor Trust, and all right, title and interest in the Creditor Trust Assets shall be deemed to have been transferred to the Creditor Trust and shall automatically and irrevocably vest in the Creditor Trust without further action on the part of the Debtors or the Creditor Trustee, and with no reversionary interest in the Debtors. The transfer of the Creditor Trust Assets to the Creditor Trust shall be made for the benefit and on behalf of the Creditors entitled to receive distributions from the Creditor Trust under the Plan. The assets comprising the Creditor Trust Assets will be treated for tax purposes as being transferred by the Debtors to the Creditors entitled to receive distributions from the Creditor Trust under the Plan in exchange for their Allowed Claims, and then by the Creditors entitled to receive distributions from the Creditor Trust under the Plan to the Creditor Trust in exchange for the beneficial interests in the Creditor Trust. Such Creditors shall be treated as the grantors and owners of the Creditor Trust. Upon the transfer of the Creditor Trust Assets, the Creditor Trust shall succeed to all of the Debtors' rights, title, and interest in the Creditor Trust Assets, and the Debtors will have no further interest in or with respect to the Creditor Trust Assets. Upon the transfer of the Creditor Trust Assets to the Creditor Trust, the Debtors and their Estates shall have no other or further rights or obligations with respect to the Creditor Trust except as specifically set forth in the Plan; provided, however, that the Debtors will make reasonable efforts to cooperate with the Creditor Trustee in achieving the intent and purpose of the Creditor Trust. Counsel to the Debtors: Alan R. Lepene, Esq. Scott B. Lepene, Esq. THOMPSON HINE LLP 3900 Key Center, 127 Public Square Cleveland, OH 44114-1291 Telephone: (216) 566-5500 Facsimile: (216) 566-5800 E-mail: Alan.Lepene@thompsonhine.com Scott.Lepene@thompsonhine.com Sean A. Gordon, Esq. Austin B. Alexander, Esq. THOMPSON HINE LLP Two Alliance Center, 3560 Lenox Road NE, Suite 1600 Atlanta, GA 30326-4266 Telephone: (404) 541-2900 Facsimile: (404) 541-2905 E-mail: Sean.Gordon@thompsonhine.com Austin.Alexander@thompsonhine.com - and - Mark L. Desgrosseilliers, Esq. CHIPMAN BROWN CICERO & COLE, LLP Hercules Plaza, 1313 North Market St., Suite 5400 Wilmington, DE 19801 Telephone: (302) 295-0192 E-mail: desgross@chipmanbrown.com A copy of the Combined Chapter 11 Plan of Liquidation and Disclosure Statement dated Dec. 22, 2023, is available at https://tinyurl.ph/IHHig from PacerMonitor.com. About Williams Industrial Services Williams Industrial Services Group (NYSE American: WLMS) -- http://www.wisgrp.com/-- is a provider of infrastructure related services to blue-chip customers in energy and industrial end markets, including a broad range of construction maintenance, modification, and support services. William Industrial and 13 of its affiliates sought relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No. 23-10961) on July 22, 2023. In the petition filed by its president and CEO, Tracy D. Pagliara, William Industrial reported total assets of $114,461,000 and total liabilities of $89,831,000 as of March 31, 2023. The Hon. Thomas Horan oversees the cases. The Debtors tapped Thompson Hine LLP as bankruptcy counsel; and Chipman Brown Cicero & Cole LLP as local bankruptcy counsel. G2 Capital Advisors LLC is the financial advisor to the Debtors, Greenville & Co. Inc is the investment banker, while Epiq Bankruptcy Solutions LLC is the notice and claims agent. ********* 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. 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