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         T R O U B L E D   C O M P A N Y   R E P O R T E R

              Friday, May 10, 2024, Vol. 28, No. 130

                            Headlines

301 W NORTH: Court OKs Cash Collateral Access May 29
3628 GEORGIA: Seeks to Hire 3628 Georgia as Bankruptcy Counsel
7 STAR CLUB: Seeks to Hire Herrin Law PLLC as Bankruptcy Counsel
72ND AVENUE: Seeks to Hire Michael D. O'Brien as Legal Counsel
80 WEST WASHINGTON: Unsecured Creditors Out of Money in Sale Plan

87 JACOBUS AVE: Creditor Town of Kearny Proposes Plan
A.B.A.N.E. PROPERTIES: Seeks to Tap ELP Real Estate as Broker
AGM VENTURES: Taps Lane Law Firm as Bankruptcy Counsel
ALL-SAFE: Wins Interim Cash Collateral Access
AMBRI INC: Kirkland & Morris Nichols Advise Ad Hoc Noteholder Group

APPLIED DNA: Leviticus Partners, AMH Equity Disclose 9.27% Stakes
ARTIFICIAL INTELLIGENCE: RAD Receives Large RIO Expansion Order
ASTRA ACQUISITION: BlackRock DLC Marks $2.8MM Loan at 71% Off
AVENUE THERAPEUTICS: Effects 1-for-75 Reverse Stock Split
BALDWIN INSURANCE: Moody's Rates New $500MM Sr. Secured Notes 'B2'

BALTIMORE HOTEL: S&P Raises Secured Revenue Bonds Rating to 'B+'
BAONANAS LLC: Wins Interim Cash Collateral Access
BENARK LLC: Court OKs Cash Collateral Access Thru May 15
BERRY GLOBAL: Fitch Affirms 'BB+' IDR, Outlook Stable
BHAVI HOSPITALITY: Hires Joyce W. Lindauer as Bankruptcy Counsel

BIOTRICITY INC: Receives Another Nasdaq Noncompliance Notice
BRIGHTLINE EAST: Fitch Assigns 'B' Rating to $1.3BB Secured Notes
BRIGHTLINE EAST: S&P Rates $1.325BB Senior Secured Debt 'B'
BROTHERS GRIMM: Seeks to Hire BC Business Services as Accountant
CARE NEW ENGLAND: Fitch Alters Outlook on 'BB-' Rating to Stable

CARVANA CO: Posts $49 Million Net Income in First Quarter
CELULARITY INC: No Longer Complies With Nasdaq Listing Requirement
CFMT TRUST 2021-AL1: Moody's Cuts Rating on Cl. C-2 Notes From Ba2
CLEAN ENERGY: Xiaotian Xiao Joins Board of Directors
CLEARPOINT NEURO: Incurs $4.1 Million Net Loss in First Quarter

CLOUD SOFTWARE: Moody's Rates New Secured First Lien Notes 'B2'
CLOUD SOFTWARE: S&P Rates Senior Secured First-Lien Notes 'B'
COBRA ACQUISITIONCO: Moody's Cuts CFR & Sr. Unsecured Notes to B3
CORNERSTONE ONDEMAND: S&P Alters Outlook to Stable, Affirms B- ICR
COSMOS HEALTH: Dismisses KPMG as Auditor

DERMTECH INC: Van Herk Entities Acquire 5.1% Equity Stake
DOMAN BUILDING: Moody's Ups CFR to Ba3 & Sr. Unsecured Notes to B1
DORCLAIR INVESTMENT: Taps Keery McCue as Bankruptcy Counsel
DUSOBOX CORP: Court OKs Interim Cash Collateral Access
EAGLE ROCK: Seeks to Hire Cooper Norman as Accountant

ELIZA JENNINGS: Fitch Affirms 'BB+' IDR, Outlook Stable
EMCORE CORP: Sells Chips Business, Wafer Fabrication for $2.92M
EMERALD TECHNOLOGIES: BlackRock DLC Marks $196,619 Loan at 15% Off
EMX ROYALTY: Appoints Two New Members to Board of Directors
ENCO PROPERTIES: Seeks to Hire ELP Real Estate as Realtor

ENSERVCO INC: Appoints Marc Kramer as Director
ENVERIC BIOSCIENCES: Signs Deals to Issue 458,000 Common Shares
ENVIVA INC: Fitch Assigns 'B-' Rating on $500MM DIP Facility
EP GLOBAL: S&P Upgrades ICR to 'B' on Strengthened Credit Profile
ETHEMA HEALTH: Reports $1 Million Net Income in 2023

EVOFEM BIOSCIENCES: Terminates, Reinstates Aditxt Merger Agreement
EYECARE PARTNERS: S&P Lowers First-Lien Term Loans Rating to 'D'
FELTRIM BALMORAL: Seeks to Tap Radius Realty Group as Broker
FGV FRESNO: Seeks to Hire Ross Wolcott Teinert as Special Counsel
FIVE STAR: S&P Downgrades ICR to 'B-' on Lower Earnings

FTX TRADING: Eversheds & Morris Update Ad Hoc Committee Members
GAUCHO GROUP: Back in Compliance With Nasdaq Listing Requirement
GAUCHO GROUP: Incurs $16.2 Million Net Loss in 2023
GIRAFFE ENTERTAINMENT: Seeks to Hire Bond Law Office as Attorney
GOOD GAMING: Appoints Hilzendager as New CFO After Fontana Resigns

GREENIDGE GENERATION: Agrees With CSO to Terminate Employment
GREENIDGE GENERATION: Releases Q1 Financial & Operating Results
GREENWAVE TECHNOLOGY: Amends Senior Secured Conv. Promissory Note
GRESHAM WORLDWIDE: Investor Declares Default
GROSVENOR CAPITAL: Moody's Rates New $400MM 1st Lien Loans 'Ba2'

HEALTHY EXTRACTS: Hyperion, OPM Terminate Acquisition Agreement
HESS MIDSTREAM: Fitch Assigns 'BB+' Rating on Sr. Unsecured Notes
HESS MIDSTREAM: Moody's Rates New $500MM Sr. Unsecured Notes 'Ba2'
HEYWOOD HEALTHCARE: Wins Cash Collateral Access Thru June 7
HUDSON 888: Unsecureds to Get Paid in 2 Installments in Plan

INH BUYER: BlackRock DLC Marks $3.7MM Loan at 25% Off
INNOVATE CORP: Incurs $20.1 Million Net Loss in First Quarter
INNOVATIVE DESIGNS: Incurs $63K Net Loss in First Quarter
JOANN INC: Emerges from Bankruptcy, Cuts Debt in Half
JOHNSTONE SUPPLY: Moody's Assigns First Time B2 Corp. Family Rating

JP INTERMEDIATE: BlackRock DLC Marks $1.6MM Loan at 27% Off
LAXMI CAPITAL: Seeks to Hire Laxmi Capital as Bankruptcy Counsel
LAXMI CAPITAL: Taps Hayes & Welsh as Special Litigation Counsel
LEXARIA BIOSCIENCE: Stockholders Elect Six Directors
LIVEONE INC: Anticipates Certain Record Q4 and FY24 Results

LUCKY PENNY: Wins Interim Cash Collateral Access Thru June 13
MADISON TECHNOLOGIES: Incurs $1.1 Million Net Loss in Q2 2023
MAGENTA BUYER: BlackRock BDEBT Marks $2.5MM Loan at 40% Off
MAGENTA BUYER: BlackRock BDEBT Marks $839,385 Loan at 37% Off
MAGENTA BUYER: BlackRock DLC Marks $3MM Loan at 70% Off

MAGENTA BUYER: BlackRock DLC Marks $589,785 Loan at 37% Off
MGT CAPITAL: Incurs $6.1 Million Net Loss in 2023
MILLENKAMP CATTLE: Grimshaw Law Represents Corn Silage Growers
MILLENKAMP CATTLE: Hires Gale W. Harding as Equipment Appraiser
MONEYGRAM INTERNATIONAL: Fitch Affirms 'B' IDR, Outlook Stable

NEP GROUP: BlackRock DLC Marks $130,856 Loan at 18% Off
NORTHWEST BIOTHERAPEUTICS: Secures $11M Funding From Streeterville
NUWELLIS INC: Incurs $4.3 Million Net Loss in First Quarter
NUZEE INC: CFO, COO Weaver Gets $325K Salary Under Amended Contract
OUTLOOK THERAPEUTICS: Changes Headquarters to 111 S. Wood Avenue

OUTLOOK THERAPEUTICS: Registers 2.8M Shares for Possible Resale
PANACEA LIFE: Fires BF Borgers CPA as Auditor
PANACEA LIFE: Incurs $1.45 Million Net Loss in First Quarter
PARAMOUNT INTERMODAL: Taps Levene Neale as Bankruptcy Counsel
PARKCLIFFE DEVELOPMENT: Taps Diller and Rice as Bankruptcy Counsel

PATINOS CONCRETE: Seeks to Tap Blanchard Law as Bankruptcy Counsel
PLOURDE SAND: Wins Cash Collateral Access Thru July 1
PLUS STUDIOS: Seeks to Tap Timothy P. Thomas as Legal Counsel
PRIME HEALTHCARE: Fitch Affirms 'B' LongTerm IDR, Outlook Stable
PUNTO OTTICO: Seeks to Hire B&G International as Special Counsel

RADIATE HOLDCO: BlackRock BDEBT Marks $1.4MM Loan at 16% Off
RAYONIER ADVANCED: Incurs $1.6 Million Net Loss in First Quarter
RAZOR GROUP: BlackRock DLC Marks $578,632 Loan at 34% Off
RESEARCH NOW: BlackRock BDEBT Marks $2.4MM Loan at 40% Off
REVA HOSPITALITY: Hires Joyce W. Lindauer as Bankruptcy Counsel

RIN LTD II: Moody's Upgrades Rating on $7MM Class E Notes to Ba2
RISKON INTERNATIONAL: Ault Named Executive Chairman, Spaziano CEO
RISKON INTERNATIONAL: Noteholder Issues Default Notice
SAM ASH: Case Summary & 30 Largest Unsecured Creditors
SCORPIUS HOLDINGS: Regains Compliance With NYSE Listing Standards

SELINA HOSPITALITY: Delays Filing of 2023 Annual Report on Form 20F
SELINA HOSPITALITY: Receives Delisting Notice From NASDAQ
SOCAL CLIMATE: Wins Cash Collateral Access Thru Aug 2
STAFFING 360: Gets Nasdaq Notice for Non-Filing of Annual Report
STALWART PLASTICS: Committee Taps Riveron RTS as Financial Advisor

STEWARD HEALTH: Paul Hastings Represents ABL Parties
STREAMLINE HEALTH: Gets 180-Day Extension to Comply With Nasdaq
SUITED CONNECTOR: BlackRock DLC Marks $1.4MM Loan at 27% Off
SUITED CONNECTOR: BlackRock DLC Marks $226,048 Loan at 27% Off
SYNAPSE FINANCIAL: Court OKs Interim Cash Collateral Access

SYNIVERSE CORP: S&P Alters Outlook to Positive, Affirms 'CCC+' ICR
TARGET GROUP: Incurs $193K Net Loss in First Quarter
TCP COMMUNICATIONS: Taps Houston Roderman as Bankruptcy Counsel
TRANSOCEAN LTD: Posts $98 Million Net Income in First Quarter
TRINITY PLACE: Agrees With CEO to Extend Employment Until July 2024

TRUMP MEDIA: Hires Semple Marchal to Replace BF Borgers as Auditor
VOIP-PAL.COM: Hikes Authorized Capital Stock to 8 Billion Shares
VRC2735 LLC: Seeks to Hire J. Zac Christman as Bankruptcy Attorney
W.F. DELAUTER Case Summary & 20 Largest Unsecured Creditors
WEBTRONICS LLC: Received Approval to Hire a Special Counsel

WINDSOR HOTEL: Hires Joyce W. Lindauer as Bankruptcy Counsel
WINDSOR TERRACE: Pfister & Saso Represents Ad Hoc Group
WOOF HOLDINGS: BlackRock BDEBT Marks $942,193 Loan at 20% Off
WYNDHAM HOTEL: Fitch Affirms 'BB+' LongTerm IDR, Outlook Stable
XTI AEROSPACE: Raises $1-Mil. in Streeterville Deal

ZION OIL: Incurs $1.8 Million Net Loss in First Quarter
ZOOZ POWER: Incurs $11.7 Million Net Loss in 2023
[^] BOOK REVIEW: Dynamics of Institutional Change

                            *********

301 W NORTH: Court OKs Cash Collateral Access May 29
----------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois,
Eastern Division, authorized 301 W North Avenue, LLC to use the
cash collateral of BDS III Mortgage Capital G LLC up to $30,000, on
an interim basis, in accordance with the budget, with a 10%
variance, through May 29, 2024.

As previously reported by the Troubled Company Reporter, the Debtor
requires the use of BDS's cash collateral in order to maintain the
value of the Real Estate and to continue its related business
operations pending the confirmation of a chapter 11 plan.

On June 12, 2023, the Debtor entered into a Property Management
Agreement with Daniel Management Group, Inc. for the non-exclusive
management of the Debtor's Property.

To re-finance the debt incurred in connection with the purchase and
construction of the Real Estate, the Debtor obtained financing from
BDS Mortgage Capital J, LLC, a Delaware Limited liability company
pursuant to the following documents, as amended:

a. Promissory Note, dated September 23, 2020, by Debtor in favor of
Original Lender, in the original principal amount of $26 million;

b. Loan Agreement, dated September 23, 2020, between Debtor and
Original Lender; and

c. Mortgage, Assignment of Leases and Rents, Security Agreement and
Fixture Filing dated September 23, 2020, granted by Debtor in favor
of the Original Lender, and recorded against the Real Estate on or
about October 14, 2020.

The Original Lender assigned its interest in the Loan Documents to
BDS.

As of December 1, 2023, BDS asserted that the total amount due and
owing under the Loan Documents was $28.5 million.

The Debtor believes that BDS will assert that its claims are
secured by perfected, valid and enforceable liens on the Real
Estate and the rents and other income that it generates. The Debtor
concedes that BDS has a perfected and enforceable lien upon rents
collected post-petition, BDS does not have a lien upon the
Pre-Petition Cash.

A status hearing on the matter is set for May 29, 2024 at 10:30
a.m.

A copy of the order is available at https://urlcurt.com/u?l=ZotC5P
from PacerMonitor.com.

                About 301 W North Avenue, LLC

301 W North Avenue, LLC is engaged in activities related to real
estate.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ill. Case No. 24-02741) on February
27, 2024. In the petition signed by F. Martin Paris, Jr., president
of MK Manager Corp. as manager of Debtor, the Debtor disclosed up
to $50 million in both assets and liabilities.

Judge Donald R. Cassling oversees the case.

Robert Glantz Much Shelist, P.C., Esq. at MUCH SHELIST PC,
represents the Debtor as legal counsel.


3628 GEORGIA: Seeks to Hire 3628 Georgia as Bankruptcy Counsel
--------------------------------------------------------------
3628 Georgia NW LLC seeks approval from the U.S. Bankruptcy Court
for the District of Colombia to hire Chung & Press, P.C. as its
counsel.

The firm's services include:

     a. preparing all schedules, statements, and other required
filings.

     b. assisting and advising the Debtor relative to the
administration of this proceeding;

     c. representing the Debtor before the Bankruptcy Court and
advising the Debtor on all pending litigations, hearings, motions,
and of the decisions of the Bankruptcy Court;

     d. reviewing and analyzing all applications, orders, and
motions filed with the Bankruptcy Court by third parties in this
proceeding and advising the Debtor thereon;

     e. attending all meetings conducted pursuant to section 341(a)
of the Bankruptcy Code and representing the Debtor at all
examinations;

     f. communicating with creditors and all other parties in
interest;

     g. assisting the Debtor in preparing all necessary
applications, motions, orders, supporting positions taken by the
Debtor, and preparing witnesses and reviewing documents in this
regard;

     h. conferring with all other professionals, including any
accountants and consultants retained by the Debtor and by any other
party in interest;

     i. assisting the Debtor in negotiations with creditors or
third parties concerning the terms of any proposed plan of
reorganization;

     j. preparing, drafting and prosecuting the plan of
reorganization and disclosure statement; and

     k. assisting the Debtor in performing such other services as
may be in the interest of the Debtor and the Estate and performing
other legal services required by the Debtor.

The firm will be paid at the rate of $495 per hour and will receive
an advanced retainer in the amount of $10,000.

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Daniel M. Press, Esq., a partner at Chung & Press, 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:

     Daniel M. Press, Esq.
     Chung & Press, P.C.,
     6718 Whittier Ave., Suite 200
     McLean, VA 22101
     Telephone: (703) 734-3800
     Facsimile: (703) 734-0590
     Email: dpress@chung-press.com

                    About 3628 Georgia NW

3628 Georgia NW is primarily engaged in renting and leasing real
estate properties.

3628 Georgia NW LLC filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. D. Colo. Case No.
24-00147) on April 30, 2024, listing $1 million to $10 million in
both assets and liabilities. The petition was signed by Richard
Balles as managing member.

Judge Elizabeth L Gunn presides over the case.

Daniel Press, Esq. at CHUNG & PRESS, P.C. represents the Debtor as
counsel.


7 STAR CLUB: Seeks to Hire Herrin Law PLLC as Bankruptcy Counsel
----------------------------------------------------------------
7 Star Club Inc seeks approval from the U.S. Bankruptcy Court for
the Eastern District of Texas to hire Herrin Law, PLLC as its
counsel.

The firm will render these services:

     (a) advise the Debtor with respect to its powers and duties;

     (b) prepare and pursue the confirmation of the plan and
approval of a disclosure statement;

     (c) prepare legal papers;

     (d) appear in the court and protect the interests of the
Debtor before the court; and

     (e) perform all other legal services for the Debtor which may
be necessary and proper in these proceedings.

The hourly rates of the firm's counsel and staff are:

     C. Daniel Herrin         $400
     Manolo Santiago          $400
     Paralegals        $125 - $175

In addition, the firm will seek reimbursement for expenses
incurred.

The firm received a retainer in the amount of $6,738 from the
Debtor.

C. Daniel Herrin, Esq., owner of Herrin Law, disclosed in a court
filing that the firm is a "disinterested person" as defined in
Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     C. Daniel Herrin, Esq.
     Herrin Law, PLLC
     12001 N. Central Expy., Suite 920
     Dallas, TX 75243
     Telephone: (469) 607-8551
     Facsimile: (214) 722-0271
     Email: ecf@herrinlaw.com

                   About 7 Star Club Inc.

7 Star Club Inc filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. E.D. Tex. Case No.
24-40763) on April 1, 2024, listing up to $50,000 in both assets
and liabilities. Daniel Herrin, Esq. at Herrin Law, PLLC represents
the Debtor as counsel.


72ND AVENUE: Seeks to Hire Michael D. O'Brien as Legal Counsel
--------------------------------------------------------------
72nd Avenue Property, LLC seeks approval from the U.S. Bankruptcy
Court for the District of Oregon to hire Michael D. O'Brien &
Associates P.C. as its counsel.

The firm's services include negotiating financing orders, seeking
authorization for use of cash collateral, reviewing and evaluating
the status and validity of secured claims, and formulating a
Chapter 11 plan of reorganization.

The firm will provide these services:

    Michael O'Brien, Partner         $475 per hour
    Theodore Piteo, Partner          $400 per hour
    Hugo Zollman, Senior Paralegal   $185 per hour
    Lauren Gary, Paralegal           $125 per hour

In addition, the firm will seek reimbursement for out-of-pocket
expenses incurred.

The firm received from the Debtor an advance payment of $40,000.

Michael O'Brien, Esq., a partner at Michael D. O'Brien &
Associates, 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:

     Michael D. O'Brien, Esq.
     Theodore J. Piteo, Esq.
     Michael D. O'Brien & Associates, P.C.
     12909 SW 68th Pkwy, Suite 160
     Portland, OR 97223
     Tel: (503) 786-3800
     Email: enc@pdxlegal.com

             About 72nd Avenue Property, LLC

72nd Avenue Property owns new luxury apartments located at 11740 SW
72nd Avenue, Tigard, OR 97223. The subject property is a five-story
mixed-use building located on a 25,634-quare foot site. The
Property has an appraised value of $17.8 million.

72nd Avenue Property, LLC filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. D. Ore. Case No.
24-31211) on April 30, 2024, listing $17,800,382 in assets and
$14,626,199 in liabilities. The petition was signed by Richard
Cassinelli as managing member.

Judge Peter C. Mckittrick presides over the case.

Theodore J. Piteo, Esq. at Michael D. O'Brien & Associates
represents the Debtor as counsel.


80 WEST WASHINGTON: Unsecured Creditors Out of Money in Sale Plan
-----------------------------------------------------------------
80 West Washington Place Real Estate Holdings, LLC filed with the
U.S. Bankruptcy Court for the Southern District of New York a
Disclosure Statement accompanying Plan of Liquidation dated April
25, 2024.

The Debtor was formed as a New York limited liability Company on
October 19, 2012, for the purpose of owning the town house located
at 80 West Washington Place, New York, New York near Washington
Square Park and New York University law school.

The Debtor filed for bankruptcy because the Property was about to
be sold in a foreclosure sale by Emigrant Bank, N.A. (the "Senior
Secured Lender"). Debtor, through the real estate brokerage firm
Serhant, LLC, identified a qualified purchaser for the Property
that it believes has offered the highest and best offer for the
Property after twelve years of marketing.

The Sale closing date is expected to be no later than June 11, 2024
(the "Closing Date") to EMTIS LLC (the "Purchaser") for
$17,000,000. A deposit of $1,700,000 was received upon entering
into the sale contract and is being held by counsel to the Debtor
with the balance to be paid on the Closing Date. An order for the
Sale of the Property free and clear of all liens, claims and
encumbrances was entered by the Bankruptcy Court on April 19, 2024
(the "Sale Order"). The Sale Order approves the sale of the
Property to the Purchaser and approves the contract of sale entered
into by and between the Debtor and the Purchaser.

The Plan is designed as a liquidating plan and therefore the Debtor
will not be operating after the Confirmation of the Plan. All of
the assets of the Debtor will be distributed, and the Debtor will
cease business.  

Emigrant, as the holder of the first lien secured position on the
Property, is entitled to all the proceeds of sale up to its Allowed
Claim of over $20,000,000. Any distributions made by the Debtor
other than payment to Emigrant are only allowed as a carve out
pursuant to the Stipulation and Sale Order.

The Class 2(A) Allowed Secured Claim of Emigrant Bank will be paid
in the amount of $17,000,000 from the proceeds of the Sale, subject
to any agreed upon Carve Outs for taxes, legal fees, broker
commissions, US Trustee fees and closing costs, as provided in this
Plan and the Sale Order.

The Class 2(B) Allowed Secured Claim of Galinn Fund LLC will not
receive any distribution in that it is subordinated to Emigrant due
to the priority of debt.

Class 3 consists of Unsecured Claims. There will be no funds to pay
any Unsecured Claims. Class 3 Unsecured Claims are Impaired and are
assumed to have voted against the Plan.

Class 4 consists of the Equity Interest of the limited liability
owners of Debtor, as set forth in the Petition. There will be no
distributions to Equity Interests. The holders of the Class 4
Equity Interests under this Plan are deemed to have rejected the
Plan pursuant to section 1126(g) of the Bankruptcy Code and will
not be entitled to vote.

A full-text copy of the Disclosure Statement dated April 25, 2024
is available at https://urlcurt.com/u?l=OwxOLt from
PacerMonitor.com at no charge.

Counsel for the Debtor:

     H. Bruce Bronson, Esq.
     BRONSON LAW OFFICES, P.C.
     480 Mamaroneck Ave.
     Harrison, NY 10528
     Tel: (914) 269-2530
     Fax: (888) 908-6906
     Email: hbbronson@bronsonlaw.net

       About 80 West Washington Place

80 West Washington Place Real Estate Holdings, LLC is a single
asset real estate (as defined in 11 U.S.C. Section 101(51B)). It is
the owner of real property located at 80 West Washington Place, New
York, N.Y., valued at $17 million.

The Debtor filed Chapter 11 petition (Bankr. S.D.N.Y. Case No.
24-10217) on Feb. 11, 2024, with $17,000,000 in assets and
$26,058,735 in liabilities. William Rainero, managing member,
signed the petition.

Judge John P. Mastando III presides over the case.

H. Bruce Bronson, Esq., at Bronson Law Offices, PC represents the
Debtor as bankruptcy counsel.


87 JACOBUS AVE: Creditor Town of Kearny Proposes Plan
-----------------------------------------------------
The Town of Kearny filed with the U.S. Bankruptcy Court for the
District of New Jersey a First Disclosure Statement describing
Chapter 11 Plan for 87 Jacobus Ave LLC dated April 25, 2024.

The Debtor is a New Jersey limited liability company whose address
is 534 Broadway, Bayonne, New Jersey 07002. The Debtor is owned
100% by Jacobus Holdings, a New Jersey limited liability company,
which Lance T. Lucarelli owns 100% of the equity.

The Debtor's sole asset is the real property designated on the
Official Tax map of the Town of Kearny as Block 289, Lots 13 and
13.01 (the "Property"). The ownership of the Property is the
Debtor's only function and the Debtor does not purport to operate
any other line of business.

The events leading to the Chapter 11 Filing relate to various
claims against the Property for the environmental issues facing the
Property, as well as the fact that real property taxes have not
been paid to Kearny for nearly 30 years.

The Debtor's unsecured creditor is the purported former owner of
the Property, Farnow, Inc., which is owed $950,000.00. This claim
arose from the purported purchase of the Property. The Debtor
agreed to a $1 million purchase price for the Property, $50,000.00
of which was paid at the time of that transaction. The remaining
portion of the purchase price for the Property was unsecured and
the Debtor immediately filed this Chapter 11 Case. As such, the
Debtor paid merely $50,000.00 for its purported ownership interest
in the Property.

Class 3 consists of General Unsecured Claims. Each Holder of a
Class 3 Claim shall be paid from the Class 3 Carve-out, if any, and
in the event all senior Secured Claims, Administrative Claims and
Priority Claims are paid in full, from the remaining cash proceeds
of a foreclosure sale, if any. The allowed unsecured claims total
$950,000.00. This Class is impaired.

The interest holders of Jacobus Holdings LLC will pass through this
Chapter 11 Case and the Town of Kearny's rights will be restored as
if this Chapter 11 Case had not been filed. The automatic stay
shall be lifted so that the Town of Kearny may pursue and/or
enforce its rights and claim under any and all applicable
non-bankruptcy law.

The Plan will not require additional finding, other than the
Debtor's payment of administrative expense claims and priority tax
claims. Kearny is a third-party creditor acting as Proponent of the
Plan and is therefore not familiar with the claims currently owed
by the Debtor. As such, the Debtor will be required to provide the
Court and parties in interest with administrative expense claims
and priority tax claims currently due and owing.

The Plan restores the Debtor, its assets, and all claims against
same to their original position as if the Chapter 11 Case had not
been filed. Thus, there is no distinct requirement for the Debtor
to fund the Plan.

The Proponent, as a third-party creditor of the Debtor, does not
have sufficient information or knowledge as to the financial
situation of the Debtor as it pertains to available cash. However,
a review of the pleadings in this Chapter 11 Case show that the
Debtor's principal has provided the Debtor with the required cash
as the case has continued. As such, the Debtor must be required to
pay all administrative expense claims as of the Effective Date.

A full-text copy of the Disclosure Statement dated April 25, 2024
is available at https://urlcurt.com/u?l=hePXhw from
PacerMonitor.com at no charge.

Counsel to the Town of Kearny:

     COLE SCHOTZ P.C.
     Stuart Komrower, Esq.
     Andreas D. Milliaressis, Esq.
     Court Plaza North, 25 Main Street
     Hackensack, New Jersey 07601
     Telephone: (201) 489-3000
     Email: skomrower@coleschotz.com
            amilliaressis@coleschotz.com

                   About 87 Jacobus Ave LLC

87 Jacobus Ave LLC  is engaged in activities related  to real
estate.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D.N.J. Case No. 23-14955) on June 7, 2023,
with $50 million to $100 millions in assets and liabilities. Lance
Lucarelli, managing member of 87 Jacobus Ave Holdings LLC, signed
the petition.

Judge Stacey L. Meisel presides over the case.

Joseph L. Schwartz, Esq. at RIKER DANZIG LLP represents the Debtor
as legal counsel.


A.B.A.N.E. PROPERTIES: Seeks to Tap ELP Real Estate as Broker
-------------------------------------------------------------
A.B.A.N.E. Properties, LTD seeks approval from the U.S. Bankruptcy
Court for the Western District of Texas to employ ELP Real Estate
Group LLC, dba REPcre as real estate broker.

The firm will market and sell the Debtor's real property located at
22 Alexander 16 to 20 (15860 SQFT), City of El Paso, El Paso
County, Texas commonly known as 1302 N. Stanton St., El Paso, Texas
79902.

The broker will be paid a 6 percent commission for the sale of 1302
Stanton St. Property.

Sergio Tinajero, founding partner at REPcre, 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:

     Sergio Tinajero
     ELP Real Estate Group, LLC, d/b/a REPcre
     6006 N. Mesa St. Ste. 110
     El Paso, TX 79912
     Phone: (915) 422-2242
     E-Mail: sergio@repcre.com

           About A.B.A.N.E. Properties, LTD

A.B.A.N.E. Properties, Ltd. in El Paso TX, filed its voluntary
petition for Chapter 11 protection (Bankr. W.D. Tex. Case No.
23-31398) on December 29, 2023, listing as much as $1 million to
$10 million in both assets and liabilities. Nora Herrera as
managing member, signed the petition.

MIRANDA & MALDONADO, PC serve as the Debtor's legal counsel.


AGM VENTURES: Taps Lane Law Firm as Bankruptcy Counsel
------------------------------------------------------
AGM Ventures LLC seeks approval from the U.S. Bankruptcy Court for
the Western District of Texas to hire The Lane Law Firm, PLLC as
its attorneys.

The firm will provide these services:

     a. assist, advise and represent the Debtor relative to the
administration of the Chapter 11 case;

     b. assist, advise and represent the Debtor in analyzing the
Debtor's assets and liabilities, investigating the extent and
validity of lien and claims, and participating in and reviewing any
proposed asset sales or dispositions;

     c. attend meetings and negotiate with the representatives of
the secured creditors;

     d. assist the Debtor in the preparation, analysis, and
negotiation of any plan of reorganization and disclosure statement
accompanying any plan of reorganization;

     e. take all necessary action to protect and preserve the
interests of the Debtor;

     f. appear, as appropriate, before this Court, the Appellate
Courts, and other Courts in which matters may be heard and to
protect the interests of the Debtor before said Courts and the
United States Trustee; and

     g. perform all other necessary legal services in these cases.

The firm will be paid at these rates:

     Robert C. Lane         $595 per hour
     Joshua Gordon          $550 per hour
     Associate Attorneys    $425 to $500 per hour
     Paraprofessionals      $190 to $250 per hour

The firm received a retainer in the amount of $40,000.

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Robert C. Lane, Esq., a partner at Lane Law Firm 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:

     Robert C. Lane, Esq.
     Joshua D. Gordon, Esq.
     The Lane Law Firm, PLLC
     6200 Savoy, Suite 1150
     Houston, TX 77036
     Tel: (713) 595-8200
     Fax: (713) 595-8201
     Email: notifications@lanelaw.com
            Joshua.gordon@lanelaw.com

              About AGM Ventures LLC

AGM Ventures LLC filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Case No.
24-10457) on April 30, 2024, listing $50,001 to $100,000 in assets
and $500,001 to $1 million in liabilities.

Judge Shad Robinson presides over the case.

Robert Chamless Lane, Esq. at The Lane Law Firm PLLC represents the
Debtor as counsel.


ALL-SAFE: Wins Interim Cash Collateral Access
---------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Florida,
West Palm Beach Division, authorized A All-Safe, Safe & Lock, Inc.
to use cash collateral, on an interim basis, in accordance with the
budget.

Regions Bank and the U.S. Small Business Administration have valid
blanket liens that are properly perfected and enforceable against
all of the Debtor's personal property securing aggregate
indebtedness.

As adequate protection, Regions Bank and the U.S. Small Business
Administration, will have, nunc pro tunc as of the commencement of
the Chapter 11 cases, a replacement lien pursuant to 11 U.S.C.
Section 361(2) on and in all property of the Debtor acquired or
generated after the Petition Date, but solely to the same extent
and priority, and of the same kind and nature, as the property of
the Debtor securing the prepetition obligations to Regions Bank and
the U.S. Small Business Administration under the Pre-Petition Loan
Documents.

Regions Bank and the U.S. Small Business Administration will not
have or be granted a Replacement Lien on or against any claims or
causes of action arising under 11 U.S.C. Sections 542 through 550
or on or against the proceeds of the Avoidance Actions.

In the event that diminution occurs in the value of cash collateral
from and after the Petition Date as a result of the Debtor's use
thereof in an amount in excess of the value of the Replacement
Liens granted, then Regions Bank and the U.S. Small Business
Administration will be granted an administrative claim under 11
U.S.C. Section 507(b), with priority over all other administrative
expense claims.

The Replacement Liens granted will be valid and perfected without
the need for the execution or filing of any further documents or
instruments. The Replacement Liens will be subject and subordinate
to any and all fees payable to the United States Trustee and/or the
Clerk of the Bankruptcy Court.

Commencing April 1, 2024 and continuing on the 1st day of each
month thereafter, until otherwise ordered by the Court, the Debtor
will make adequate protection payments to Regions Bank in the
amount of $900 and the U.S. Small Business Administration in the
amount of $1,788 each per month.

Kapitus Servicing has claimed a security interest in the Debtor's
assets. To the extent it has a lien, the lien shall have, nunc pro
tunc as of the commencement of these Chapter 11 cases, a
replacement lien pursuant to 11 U.S.C. section 361(2) on and in all
property of the Debtor acquired or generated after the Petition
Date, but solely to the same extent and priority, and of the same
kind and nature, as the property of the Debtor securing the
prepetition obligations to Kapitus Servicing.

A further hearing on the matter is set for July 24 at 1:30 p.m.

A copy of the order is available at https://urlcurt.com/u?l=NbUpo3
from PacerMonitor.com.

               About A All-Safe, Safe & Lock, Inc.

A All-Safe, Safe & Lock, Inc. sought protection under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 24-12820-EPK)
on March 25, 2024. In the petition signed by Diana Herbst, chief
executive officer, the Debtor disclosed up to $500,000 in assets
and up to $1 million in liabilities.

Judge Erik P. Kimball oversees the case.

Brian K. McMahon, Esq., at Brian K. McMahon, PA, represents the
Debtor as legal counsel.


AMBRI INC: Kirkland & Morris Nichols Advise Ad Hoc Noteholder Group
-------------------------------------------------------------------
In the Chapter 11 case of Ambri Inc., the Ad Hoc Noteholder Group
filed a verified statement pursuant to Rule 2019 of the Federal
Rules of Bankruptcy Procedure.

In April 2024, the Ad Hoc Noteholder Group (as comprised from time
to time) formed and retained Kirkland & Ellis LLP ("K&E LLP") to
represent it as legal counsel in connection with a potential
restructuring of the outstanding debt obligations of the Debtor.
Subsequently, in May 2024, K&E LLP contacted Morris, Nichols, Arsht
& Tunnell LLP to serve as Delaware co counsel to the Ad Hoc
Noteholder Group.

K&E LLP and Morris Nichols do not represent or purport to represent
any other entities in connection with the Debtor's chapter 11 case.
K&E LLP and Morris Nichols do not represent the Ad Hoc Noteholder
Group as a "committee" (as such term is used in the Bankruptcy Code
and Bankruptcy Rules) and do not undertake to represent the
interests of, and are not fiduciaries for, any creditor, party in
interest, or other entity that has not signed a retention agreement
with K&E LLP or Morris Nichols.

In addition, the Ad Hoc Noteholder Group does not represent or
purport to represent any other entities in connection with the
Debtor's chapter 11 case. Each member of the Ad Hoc Noteholder
Group does not represent the interests of, nor act as a fiduciary
for, any person or entity other than itself in connection with the
Debtor's chapter 11 case.

The names, addresses, and disclosable economic interests of all the
members of the Ad Hoc Noteholder Group, are as follows:

1. Fortistar Investments, LLC
   One North Lexington Ave
   14th Floor
   White Plains, NY 10601
   * Prepetition Secured Notes ($2,204,619)

2. Gates Frontier, LLC
   2365 Carillon Point
   Kirkland, WA 98033
   * Prepetition Secured Notes ($15,772,285)

3. Paulson Partners L.P. and Paulson Advantage Plus Master
   Ltd.
   1133 Avenue of the Americas
   New York, NY 10036
   * Prepetition Secured Notes ($6,191,817)

Attorneys for the Ad Hoc Noteholder Group:

     MORRIS, NICHOLS, ARSHT & TUNNELL LLP
     Robert J. Dehney, Esq.
     Andrew R. Remming, Esq.
     Sophie Rogers Churchill, Esq.
     1201 N. Market Street, 16th Floor
     Wilmington, DE 19801
     Telephone: (302) 658-9200
     Facsimile: (302) 658-3989
     Email: rdehney@morrisnichols.com
            aremming@morrisnichols.com
            srchurchill@morrisnichols.com

     -and-

     KIRKLAND & ELLIS LLP
     Chad J. Husnick, Esq.
     Christopher S. Koenig, Esq.
     333 West Wolf Point Plaza
     Chicago, IL 60654
     Telephone: (312) 862-2000
     Facsimile: (312) 862-2200
     Email: chusnick@kirkland.com
            chris.koenig@kirkland.com

                         About Ambri Inc.

Ambri Inc. specializes in the development of an advanced energy
storage solution through its patented "Liquid MetalTM battery"
technology. Ambri is a pre-revenue Liquid MetalTM battery
technology company working to become a leading global provider of
long-duration, grid-scale, energy storage that can solve the most
critical issues facing today's electricity grid and enable wide-
spread adoption of intermittent renewable energy as a 24-7 power
source.  The company is developing batteries that are expected to
be low-cost, highly reliable, extremely safe, degrade only
minimally over their lifespan, and can shift fundamentally how
power grids operate and source their power, thereby contributing to
the goal of a cleaner energy future.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 24-10952) on May 5, 2024,
with $50 million to $100 million in assets and liabilities. Nora
Murphy, chief financial officer, signed the petition.

Judge Laurie Selber Silverstein presides over the case.

The Debtor tapped POTTER ANDERSON COROON LLP as counsel and GOODWIN
PROCTER LLP as co-bankruptcy counsel.


APPLIED DNA: Leviticus Partners, AMH Equity Disclose 9.27% Stakes
-----------------------------------------------------------------
Leviticus Partners LP and AMH Equity LLC disclosed in a Joint
Schedule 13G Report filed with the U.S. Securities and Exchange
Commission that as of April 25, 2024, they beneficially own 80,000
shares of Applied DNA's common stock, representing 9.27% of the
shares outstanding.

Leviticus Partners LP and its general partner, AMH Equity, LLC may
be reached at:

     Adam Hutt
     Managing Member
     32 Old Mill Road
     Great Neck, NY 11023
     Phone: 212-871-5700

A full-text copy of the Report is available at
https://tinyurl.com/yt659ufx

                     About Applied DNA

Applied DNA Sciences, Inc. -- http://www.adnas.com/-- is a
biotechnology company developing technologies to produce and detect
deoxyribonucleic acid ("DNA").  Using the polymerase chain reaction
("PCR") to enable both the production and detection of DNA, the
Company operates in three primary business markets: (i) the
manufacture of synthetic DNA for use in nucleic acid-based
therapeutics; (ii) the detection of DNA in molecular diagnostics
testing services; and (iii) the manufacture and detection of DNA
for industrial supply chain security services.

Melville, NY-based Marcum LLP, the Company's auditor since 2014,
issued a "going concern" qualification in its report dated Dec. 7,
2023, citing that the Company has incurred significant losses and
needs to raise additional funds to meet its obligations and sustain
its operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.

The Company has recurring net losses.  The Company incurred a net
loss of $1,130,281 and generated negative operating cash flow of
$3,757,679 for the three-month period ended Dec. 31, 2023.  At Dec.
31, 2023, the Company had cash and cash equivalents of $3,359,045.
The Company said these factors raise substantial doubt about the
Company's ability to continue as a going concern.



ARTIFICIAL INTELLIGENCE: RAD Receives Large RIO Expansion Order
---------------------------------------------------------------
Robotic Assistance Devices, Inc. (RAD), a subsidiary of Artificial
Intelligence Technology Solutions, Inc., announced an expansion
order has been received from a highly-respected Fortune 50 client.
Specifically, RAD has received orders for an additional 10 RIO
units, a continuation of the client's nationwide rollout that began
in the summer of 2023.  This new order expands the
ever-strengthening relationship between RAD and the client, which
has seen over 100 RIO security towers deployed to date, and a total
of 167 RAD devices placed on order.  This is the first time the
total order count for this one client has been revealed.

The Company noted that it anticipates that the client's deployed
units will surpass 150 by the end of May 2024.

"We are incredibly proud of the growing relationship with this
amazing client, a clear indication of the trust and value that
large enterprises see in RAD's security solutions," commented Mark
Folmer, CPP, PSP, FSyI, president of RAD.  "Our sales funnel is
brimming with opportunities from similarly impressive companies,
all eager to leverage our proven technology and take advantage of
the associated cost savings.  The landscape of security is evolving
quickly, and RAD is at the forefront, driving change and delivering
results that exceed our clients' expectations."

Steve Reinharz, CEO / CTO of AITX and RAD commented, "I expect the
capabilities of our fourth-generation solutions to help accelerate
clients through the sales process.  For now, we're focused on
closing a couple more big deals to stay on track for to our
short-term goal of achieving $700,000 in RMR and becoming cash flow
positive."

Sitting atop a standard RIO 360 configuration are dual ROSA units.
ROSA is a multiple award-winning, compact, self-contained,
portable, security and communication solution that can be installed
and activated in about 15 minutes.  ROSA's AI-driven security
analytics include human, firearm, vehicle detection, license plate
recognition, responsive digital signage and audio messaging, and
complete integration with RAD's software suite notification and
autonomous response library.  Two-way communication is optimized
for cellular, including live video from ROSA's high-resolution,
full-color, always-on cameras.  RAD has published five Case Studies
detailing how ROSA has helped eliminate instances of theft,
trespassing and loitering at hospital campuses, multi-family
communities, car rental locations and construction sites across the
country.

AITX, through its subsidiary, Robotic Assistance Devices, Inc.
(RAD), is redefining the $25 billion (US) security and guarding
services industry through its broad lineup of innovative, AI-driven
Solutions-as-a-Service business model.  RAD solutions are
specifically designed to provide cost savings to businesses of
between 35%-80% when compared to the industry's existing and costly
manned security guarding and monitoring model.  RAD delivers these
tremendous cost savings via a suite of stationary and mobile
robotic solutions that complement, and at times, directly replace
the need for human personnel in environments better suited for
machines.  All RAD technologies, AI-based analytics and software
platforms are developed in-house.

RAD has a prospective sales pipeline of over 35 Fortune 500
companies and numerous other client opportunities.  RAD expects to
continue to attract new business as it converts its existing sales
opportunities into deployed clients generating a recurring revenue
stream.  Each Fortune 500 client has the potential of making
numerous reorders over time.

                 About Artificial Intelligence Technology

Headquartered in Ferndale, MI, Artificial Intelligence Technology
Solutions Inc. is an innovator in the delivery of artificial
intelligence-based solutions that empower organizations to gain new
insight, solve complex challenges and fuel new business ideas.
Through its next-generation robotic product offerings, AITX's RAD,
RAD-M and RAD-G companies help organizations streamline operations,
increase ROI, and strengthen business.  AITX technology improves
the simplicity and economics of patrolling and guard services and
allows experienced personnel to focus on more strategic tasks.
Customers augment the capabilities of existing staff and gain
higher levels of situational awareness, all at drastically reduced
cost. AITX solutions are well-suited for use in multiple industries
such as enterprises, government, transportation, critical
infrastructure, education, and healthcare.

Deer Park, Illinois-based L J Soldinger Associates, LLC, the
Company's auditor since 2019, issued a "going concern"
qualification in its report dated June 14, 2023, citing that the
Company had a net loss of approximately $18 million, an accumulated
deficit of approximately $112 million and stockholders' deficit of
approximately $32 million as of and for the year ended February 28,
2023, and therefore there is substantial doubt about the ability of
the Company to continue as a going concern.

For the nine months ended Nov. 30, 2023, the Company had negative
cash flow from operating activities of $9,378,427.  As of Nov. 30,
2023, the Company has an accumulated deficit of $125,535,116, and
negative working capital of $12,944,810. Management does not
anticipate having positive cash flow from operations in the near
future.  The Company said these factors raise a substantial doubt
about the Company's ability to continue as a going concern within
the next 12 months.


ASTRA ACQUISITION: BlackRock DLC Marks $2.8MM Loan at 71% Off
-------------------------------------------------------------
BlackRock Direct Lending Corp has marked its $2,853,861 loan
extended to Astra Acquisition Corp. (Anthology) to market at
$827,620 or 29% of the outstanding amount, as of March 31, 2024,
according to a disclosure contained in BlackRock DLC's Form 10-Q
for the quarterly period ended March 31, 2024, filed with the U.S.
Securities and Exchange Commission.

BlackRock DLC is a participant in a Second Lien Term Loan to Astra
Acquisition. The loan accrues interest at a rate of 14.44% (SOFR
(Q) + 9.14%, 0.75% Floor) per annum. The loan matures on October
25, 2029.

BlackRock DLC is a Delaware corporation formed on October 12, 2020
as an externally managed, closed-end, non-diversified management
investment company. The Company elected to be regulated as a
business development company under the Investment Company Act of
1940, as amended. The Company invests primarily in middle-market
companies headquartered in North America. The Company commenced
operations on November 30, 2020. BlackRock DLC's fiscal year ends
December 31.

Astra Acquisition Corp. is a provider of cloud-based software
solutions for higher educational institutions.




AVENUE THERAPEUTICS: Effects 1-for-75 Reverse Stock Split
---------------------------------------------------------
Avenue Therapeutics, Inc. announced that it will effect a 1-for-75
reverse split of its issued and outstanding common stock.  Avenue
expects its common stock to begin trading on a split-adjusted basis
on the Nasdaq Capital Market as of the commencement of trading on
April 26, 2024 with a new CUSIP number of 05360L403.  The ticker
symbol for the Company's stock will remain "ATXI."

The reverse stock split was approved on March 6, 2024 by Avenue's
Board of Directors and stockholders representing approximately 56%
of the voting power of Avenue's outstanding capital stock, with the
authorization to determine the final ratio (within a specified
range) having been granted to the Company's Board of Directors.
The reverse stock split is intended to bring the Company into
compliance with Nasdaq's $1.00 per share minimum bid price
requirement for continued listing.

After the effectiveness of the reverse stock split, the number of
outstanding shares of common stock will be reduced from
approximately 44.7 million to approximately 0.6 million, subject to
adjustment to give effect to the treatment of any fractional shares
that stockholders would have received in the reverse stock split.
No fractional shares will be issued in connection with the reverse
stock split, and stockholders who would otherwise be entitled to
receive a fractional share will be entitled to have such fractional
share rounded up to the next whole share.  Proportional adjustments
will be made to the number of shares of the Company's common stock
issuable upon exercise or conversion of the Company's preferred
stock, warrants and equity awards, as well as the applicable
exercise or conversion prices, and the number of shares reserved
for issuance under the Company's equity compensation plan.

Avenue's transfer agent, VStock Transfer, LLC, is acting as the
exchange agent for the reverse stock split.  VStock Transfer, LLC
will provide instructions to stockholders regarding the process for
exchanging physical share certificates.  Avenue does not expect
that stockholders holding their shares in book-entry form or
through a bank, broker or other nominee need to take any action in
connection with the reverse stock split.  Beneficial holders are
encouraged to contact their bank, broker or other nominee with any
procedural questions.

                         About Avenue Therapeutics

Avenue Therapeutics, Inc. (Nasdaq: ATXI) -- www.avenuetx.com -- is
a specialty pharmaceutical company focused on the development and
commercialization of therapies for the treatment of neurologic
diseases.  It is currently developing three assets including AJ201,
a first-in-class asset for spinal and bulbar muscular atrophy,
BAER-101, an oral small molecule selective GABAA a2/3 receptor
positive allosteric modulator for CNS diseases, and IV tramadol,
which is in Phase 3 clinical development for the management of
acute postoperative pain in adults in a medically supervised
healthcare setting.  Avenue is headquartered in Miami, FL and was
founded by Fortress Biotech, Inc. (Nasdaq: FBIO).

New York, New York-based KPMG LLP, the Company's auditor since
2022, issued a "going concern" qualification in its report dated
March 18, 2024, citing that the Company has incurred substantial
operating losses since its inception and expects to continue to
incur significant operating losses for the foreseeable future that
raise substantial doubt about its ability to continue as a going
concern.


BALDWIN INSURANCE: Moody's Rates New $500MM Sr. Secured Notes 'B2'
------------------------------------------------------------------
Moody's Ratings has assigned a B2 rating to $500 million of
seven-year senior secured notes being co-issued by The Baldwin
Insurance Group Holdings, LLC (Baldwin, corporate family rating B2)
and The Baldwin Insurance Group Holdings Finance, Inc. Moody's also
assigned B2 ratings to Baldwin's new $840 million seven-year senior
secured first lien term loan B and $600 million five-year senior
secured first lien revolving credit facility. Baldwin intends to
use net proceeds of the new debt to repay existing senior secured
term loan and revolver borrowings maturing in 2027. The rating
outlook for Baldwin is unchanged at negative.

RATINGS RATIONALE

According to Moody's, the ratings reflect Baldwin's growing market
presence in distributing commercial and personal property &
casualty insurance, employee benefits, and Medicare-related
products and services to middle market businesses and individuals
mainly in the US. Baldwin sells its products through distinct
channels across three business segments including Insurance
Advisory Solutions; Underwriting, Capacity & Technology Solutions;
and Mainstreet Insurance Solutions. The company has grown rapidly
in recent years through a combination of strong organic growth and
strategic acquisitions. Since acquiring the homeowners-oriented
Westwood Insurance Agency (Westwood) in 2022, Baldwin's largest
acquisition to date, the company has shifted its focus toward
improving operational efficiency and effectiveness including the
integration of Westwood.

These strengths are offset by Baldwin's elevated financial leverage
and low interest coverage given its historically aggressive
acquisition strategy as well as lower profitability in recent years
as it works to integrate prior acquisitions. These acquisitions
have given rise to contingent earnout liabilities that will consume
a substantial portion of free cash flow in the year ahead. Baldwin
also faces potential liabilities from errors and omissions, a risk
inherent in professional services.

For 2023, Baldwin reported $1.2 billion of revenue, up from $981
million in 2022, largely driven by strong organic growth. Baldwin's
EBITDA margin (per Moody's calculations) declined in recent years
as a result of its changing business mix along with investments in
personnel, technology and process improvements. Baldwin's free cash
flow improved in 2023, but remained weak for its rating category.
Moody's expects free cash flow to rise further as the company
completes its integration initiatives and settles contingent
earnout obligations.

As of year-end 2023, Baldwin's pro forma financial leverage (per
Moody's calculations) remained well above 7x, with low interest
coverage and free cash flow metrics. Moody's expects that Baldwin
will reduce its pro forma debt-to-EBITDA ratio below 6.5x, with
(EBITDA - capex) interest coverage above 2x and a
free-cash-flow-to-debt ratio in the mid-single digits over the next
few quarters. These pro forma metrics include Moody's adjustments
for operating leases and certain non-recurring items.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

The following factors could lead to a stable rating outlook for
Baldwin: (i) profitable growth with further geographic
diversification, (ii) debt-to-EBITDA ratio below 6.5x, (iii)
(EBITDA - capex) coverage of interest above 1.5x, and (iv)
free-cash-flow-to-debt ratio above 3%.

The following factors could lead to a downgrade of Baldwin's
ratings: (i) disruptions to existing or newly acquired operations
given the company's rapid growth, (ii) debt-to-EBITDA ratio
remaining above 6.5x, (iii) (EBITDA - capex) coverage of interest
below 1.5x, or (iv) free-cash-flow-to-debt ratio below 3%.

The principal methodology used in these ratings was Insurance
Brokers and Service Companies published in February 2024.

Based in Tampa, Florida, Baldwin provides a range of commercial and
personal property & casualty insurance, employee benefits, and
Medicare-related products and services to middle market businesses
and individuals mainly in the US. Baldwin generated revenue of $1.2
billion in 2023.


BALTIMORE HOTEL: S&P Raises Secured Revenue Bonds Rating to 'B+'
----------------------------------------------------------------
S&P Global Ratings raised its issue-level rating on Baltimore Hotel
Corp.'s (BHC) senior secured revenue refunding bonds to 'B+' from
'B' due to the hotel's continuing performance recovery and improved
levels of liquidity in reserve accounts during 2023. The recovery
rating is '3' with a rounded estimate of 65%.

Baltimore Hotel Corp. (BHC) owns Hilton Baltimore, which is close
to the Baltimore Convention Center (BCC) and has been operated by
Hilton Worldwide since August 2008. It is a 757-room convention
center hotel in downtown Baltimore's Inner Harbor area, overlooking
the Camden Yards baseball park and connected to BCC by a pedestrian
bridge. The hotel has meeting rooms, a 37,000-sqare-foot ballroom,
and a 567-space, four-story parking garage with two subterranean
levels. The hotel's net revenue and pledged city tax revenue secure
the bonds. City revenue includes a $7 million annual guarantee
funded through the citywide hotel occupancy tax revenue; a pledge
of site-specific hotel occupancy tax revenue, which will vary based
on the project's occupancy; and the tax increment payment, which is
equal to the hotel's property tax payment.

The hotel has increased gross revenue year over year and has
well-controlled expenses and has seen DSCRs improve as a result.

The market has improved relative to the U.S. and this hotel
maintains a local market-leading position in its primary target
market of group business.

Liquidity has also improved, and shortfalls in several critical
reserve accounts have been rectified or are on the way to full
funding.

RevPAR continued to recover, driven by year-over-year growth in
occupancy, while ADR was stable

The hotel continues to recover after COVID-19 in both occupancy and
ADR. It had an extended closure during the peak period of COVID-19
(April 2020 to April 2021) and has been increasing RevPAR since
that time.

Signs of recovery started around summer 2022, about a year after
the hotel was reopened after its operations were suspended. In that
year, occupancy grew to 52% and RevPAR to about $100, about 84% of
2019's level. The customer breakout was 60% group/40% transient
because the hotel remains driven by group business and that
business has returned.

In 2023, the hotel achieved RevPAR of $105.68 and occupancy of
56.1%, with group business providing 68% of RevPAR. The ADR was
stable at $186 year over year. While occupancy was under management
budget, the hotel continues to improve its metrics, and S&P expects
further improvement in 2024.

Looking at the operating statistics since 2016, S&P considers the
hotel to be close to stabilization again, but at an occupancy level
below the previous levels, which were around 65%-67%. However, ADR
increases will allow RevPAR to exceed previous highs.

The recovery in RevPAR is comparable with other rated convention
center hotels. Compared with other rated hotels, Baltimore is
similar in speed of recovery from the adverse market condition due
to COVID-19. In 2022, it was lagging some of the other hotels in
terms of recovery but caught up in 2023.

Group business remains the driver for this hotel. Group business
remains strong at this hotel and has recovered from the pandemic
period. While absolute occupancy numbers remain below 2015-2019
levels, the group business was at all-time highs as a percentage of
occupancy (72%) and revenue (68%) in 2023; these were about 62% in
2016-2019. The hotel also does not choose to add contract/opaque
business because group and transient are sufficient and at better
rates.

Baltimore's RevPAR is now outperforming the average across the U.S.
Greater Baltimore has seen the reversal of two negative
trends--RevPAR was historically below the country during 2016-2019,
and RevPAR recovery post-COVID-19 lagged the rest of the country.
Both these trends have reversed in the past two years.

Hotel liquidity has improved significantly, but FF&E reserving is
behind schedule due to the COVID-19 pandemic period. With debt
service coverage recovering above 1x, cash is flowing further down
the cash waterfall. The DSRA, which had been partially drawn, is
now fully funded. The operating reserve is building back up to $5
million from a minimum of $1.3 million while the senior FF&E
reserve is being funded after a pause during the COVID-19
downturn.

However, the subordinate FF&E reserve and cash trap at the bottom
of the waterfall are not yet being replenished (they will start to
be as other reserves are fully topped off). The use of these funds
to support debt service and the cessation of funding them during
the stress period over 2020-2021 means FF&E reserving is behind
targets, raising some concern about the sufficiency of available
funds when the hotel approaches its next FF&E renovation in the
next four to five years.

S&P said, "The positive outlook reflects our view that the hotel's
expected RevPAR and operating margin recovery will continue through
2024 and the project will continue to replenish its reserves, with
coverage of 1.27x in 2024 and slowly improving in subsequent years.
We expect to review the project again in 2024 to see if the strong
start to 2024 continues in subsequent quarters.

"We could lower the rating if group business fell off significantly
or cost pressures affected the hotel's operating margin
significantly and brought the DSCR closer to 1.0x for a consistent
period. We may also lower the rating if expected upcoming capital
works and the next soft renovation of the hotel interrupt occupancy
significantly or the hotel has insufficient funding for such work.

"We could raise the rating if the hotel's RevPAR exceeded our base
case expectations, in particular if hotel occupancy levels met
management budget levels for 2024, leading to DSCR continuing to
improve toward 1.35x or better, and liquidity continued to improve,
particularly a fully funded operating reserve and target
contributions met for FF&E reserves."



BAONANAS LLC: Wins Interim Cash Collateral Access
-------------------------------------------------
The U.S. Bankruptcy Court for the District of New Jersey authorized
Baonanas LLC to use cash collateral, on an interim basis, in
accordance with the budget.

The Debtor's Secured Creditors are NYBDC Local Development
Corporation dba Pursuit Community Finance, Jersey City Economic
Development Corporation, U.S. Small Business Administration,
Webbank d/b/a TOAST, and Blue Ridge Bank (Honeybook).

Between June 2022 and August 2022, the Debtor entered into a number
of agreements with Secured Creditors and incurred debt totaling
approximately $600,000.

Secured Creditors allege secured claims against the Debtor in the
total approximate amount of $498,278 as of the Petition Date,
secured by liens on all or substantially all of the assets of the
Debtor, including its receivables.

The Debtor is authorized to use cash collateral to meet the
Debtor's ordinary cash needs for the payment of Debtor's actual
expenses to (a) maintain and preserve its assets; (b) continue
operation of its business, including but not limited to payment for
utilities, payroll, payroll taxes, and insurance expenses as
reflected in the Cash Collateral Budget: and (c) to pay
administrative claims in the Chapter 11 proceeding, including
professional fees.

As adequate protection for the use of cash collateral, the Secured
Creditors are granted a replacement perfected security interest
under 11 U.S.C. Section 361(a) to the extent that Secured
Creditors' cash collateral is used by the Debtor, to the extent and
with the same priority in the Debtor's post-petition collateral,
and proceeds thereof, that Secured Creditors held in the Debtor's
pre-petition collateral.

The replacement lien and security interest granted are
automatically deemed perfected upon entry of the Order without the
necessity of Secured Creditors taking possession, filing financing
statements, mortgages, or other documents.

A final hearing on the matter is set for May 21 at 11 a.m.

A copy of the order is available at https://urlcurt.com/u?l=cKNFBi
from PacerMonitor.com.

                       About Baonanas LLC

Baonanas LLC operates a restaurant / café that specializes in
banana pudding, and which also sells sandwiches and coffee from its
storefront, offers corporate and wedding catering, wholesale
product sales to other restaurants and cafes, and offers pop-up
events.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D.N.J. Case No. 24-13390) on Apr. 1, 2024,
listing under $1 million in both assets and liabilities.

Judge Stacey L. Meisel oversees the case.

Melinda D. Middlebrooks, Esq., at Middlebrooks Shapiro, PC serves
as the Debtor's counsel.


BENARK LLC: Court OKs Cash Collateral Access Thru May 15
--------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Pennsylvania
authorized Benark, LLC to use cash collateral on an interim basis,
in accordance with the budget, through May 15, 2024.

As adequate protection for its secured position in the Debtor's
assets, the U.S. Small Business Administration is granted valid,
perfected replacement liens in all the Debtor's assets, to the
extent of the validity of the liens as of the Petition Date,
including any diminution in value.

The Debtor will maintain insurance on the business and the property
and will promptly update the SBA and UST with any changes to
insurance coverage or insurance claims.

The Debtor's right to use cash collateral will immediately
terminate upon the occurrence of the following:

a. Entry of an order dismissing or converting the Debtor's chapter
11 case to a chapter 7 case;
b. Expiration of the term thereunder;
c. Failure to comply with the terms of the Order.

A further hearing on the matter is set for May 15 at 12:30 p.m.

A copy of the order is available at https://urlcurt.com/u?l=73gJJb
from PacerMonitor.com.

         About Benark LLC

Benark, LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Pa. Case No. 24-11112) on April 1,
2024, with up to $50,000 in assets and up to $500,000 in
liabilities.

Judge Ashely M. Chan presides over the case.

Maggie S. Soboleski, Esq., at Center City Law Offices LLC
represents the Debtor as bankruptcy counsel.


BERRY GLOBAL: Fitch Affirms 'BB+' IDR, Outlook Stable
-----------------------------------------------------
Fitch Ratings has affirmed Berry Global Group, Inc.'s (Berry) and
Berry Global, Inc.'s Issuer Default Rating at 'BB+'. The Rating
Outlook is Stable.

The rating reflects Berry's manageable leverage levels, and the
significant size and scale of the company, which positions Berry
among the largest packaging companies globally. Fitch believes that
Berry's robust and consistent FCF generation will continue to
support management's leverage targeting strategy. The Stable
Outlook reflects Fitch's expectation that the company continue to
employ a capital allocation strategy which prioritizes balance
sheet management.

KEY RATING DRIVERS

Continued Focus on Debt Reduction: Fitch believes Berry will
continue reducing debt toward its 2.5x - 3.5x net target range,
representing tightened parameters which were put in place in early
2023, with proceeds from the spinoff of the Home, Health and
Hygiene (HH&S) segment as well as from the generation of FCF. The
announced spinoff of HH&S, once combined with Glatfelter
Corporation (GLT), is expected to generate approximately $1 billion
for Berry in the form of a distribution from the new company. Fitch
also estimates $800 million to $900 million in FCF.

These two factors combined, should put the Company in the 3.5x net
debt area (4.0x Fitch's total leverage metric) by FYE 2024. Fitch
calculated total leverage stood at approximately 4.4x at FYE 2023.
Berry management has been clear in its intention to prioritize debt
repayment in the capital allocation waterfall until its leverage
target is reached, and has indicated HH&S sale proceeds will be
applied to debt reduction. The sale of HH&S itself is leverage
neutral to Berry, as Berry will receive approximately $1 billion
against segment EBITDA of around $290 million, or 3.4x EBITDA,
close to the upper end of Berry's target range.

Steady Annual FCF: Berry consistently generates solid FCF and has
generally increased FCF in each consecutive year since the
company's IPO in October 2012. Berry generated over $900 million of
FCF in FY 2023 compared with $225 million of FCF in its first year
as a public company in FY 2013. The company has FCF margins
averaging roughly 7% over the past four years, which compares
favorably with many large packaging peers, which typically have FCF
margins in the 4%-5% range. Additionally, the sale of HH&S removes
some capital intensity and earnings cyclicality from Berry, which
will allow for more consistent cash flow generation over time.

Significant Scale, Diversification and Market Position Post
Spinoff: Proforma for the spinoff of HH&S, Berry will have annual
sales of over $10 billion, spanning North American consumer
packaging (30%), International consumer packaging (40%) and
Flexibiles (30%), placing them among the top five global packaging
companies in terms of revenue. Berry will have leading #1 or #2
positions in over 75% of the markets that it serves. The company's
significant scale, geographic and product diversification and
market position remain highly supportive of the rating.

Berry has the number one market position in plastic packaging sales
in both North America and EMEA, with average customer relationships
of more than 20 years across top 10 customers. Berry's business
profile is characterized by low customer concentration with no
single customer representing more than 5% of sales and respective
top 10 customers accounting for less than 15% of sales.

Inflation and Macroeconomic Resilience: Berry has high exposure to
variable input prices, particularly plastics resins, which is
mitigated by a number of factors. Resins comprise approximately 50%
of Berry's existing costs, and about 70% of resin volumes sold are
on contractual pass through, limiting the risk of raw material
inflation pressuring margins outside of the short-term.

Additionally, Berry's large scale and extensive network of
manufacturing facilities, typically located close to customers to
reduce shipping and transportation costs, positions the company as
a low-cost manufacturer. This creates a sustainable competitive
advantage and leads to additional resin sourcing synergy
opportunities to further improve its cost position. Given high
initial capital costs, Fitch believes barriers to entry in the
packaging industry are moderately high, favoring incumbents such as
Berry.

Approximately 70% of Berry's portfolio is oriented toward consumer
non-discretionary products such as food and beverage and consumer
goods, which Fitch believes will perform defensively even in
adverse economic scenarios. To date in 2024, Berry has seen modest
single digit volume declines in some segments due to the impact of
post-pandemic destocking and curtailed consumption due to
inflation, although these trends are expected to mitigate through
the forecast period. Berry's portfolio will skew more heavily
toward non-discretionary end markets following the spin-off of
HH&S.

DERIVATION SUMMARY

Berry is among the largest global packaging companies following its
acquisition of RPC, and is now larger in terms of EBITDA than Ball
Corporation (Ball; Not Rated), Crown Holdings, Inc. (Crown; Not
Rated) and Silgan Holdings, Inc. (Silgan; BB+/Stable). Ball and
Crown are market leaders in more consolidated metal and glass
packaging subsectors and generate the substantial majority of
revenues in stable consumer non-discretionary food and beverage end
markets.

Berry joins Crown, Ball and Sealed Air (Not Rated) in terms of
significant geographic diversification, with generally 50% of sales
generated outside of the U.S. Silgan is less geographically diverse
with around 25% of sales generated outside of the U.S., although
Fitch doesn't view geographic diversification as significantly
impacting Silgan's credit profile. Berry is significantly larger
than Silgan and has higher EBITDA margins, however Silgan compares
favorably on leverage metrics.

Berry's leverage compares similarly with glass packaging
manufacturer OI Glass, Inc. (OI; Not Rated), although Berry is
larger, typically has higher margins and generates higher FCF given
the more capital-intensive nature of glass manufacturing. This is
partially offset by OI's dominant market share in a more
consolidated industry characterized by higher barriers to entry.

Berry has higher EBITDA leverage compared with comparably rated
peers, although it shares a strong deleveraging capacity with
Silgan.

KEY ASSUMPTIONS

- HHS spin-off completed by FY 2024 and $1 billion of proceeds used
to paydown debt;

- Debt repayment prioritized in the capital allocation waterfall;

- Run rate organic revenue growth of approximately 2%;

- EBITDA margins normalize in forecast years as inflationary costs
are passed through;

- Capex just over 5% of sales in support of organic growth
strategy;

- Bond maturities refinanced at market rates through the forecast.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

- Demonstrated commitment to a more conservative financial policy
resulting in EBITDA leverage sustainably below 3.5x;

- Improved financial flexibility evidenced by a less encumbered
capital structure.

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

- Material deviation from its financial policy leading to EBITDA
leverage sustainably above 4.0x;

- Failure to demonstrate substantial progress towards deleveraging
by FYE 2024;

- A meaningful and sustained compression in EBITDA margins.

LIQUIDITY AND DEBT STRUCTURE

Solid Liquidity: As of Dec. 31 2023, Berry had cash and cash
equivalents of $507 million and full availability under its $1
billion ABL revolver maturing June 22, 2028, for $1.5 billion in
total liquidity. Berry consistently generates solid positive FCF
with roughly 7% FCF margins on average over the past four years,
which Fitch believes will reliably build on cash levels.

ISSUER PROFILE

Berry Global Group, Inc. (Berry) is a leading provider of plastic
packaging products, as well as value-added engineered materials,
non-woven specialty materials with a track record of delivering
high-quality customized solutions to customers. The company sells
predominately into stable, consumer-oriented end markets such as
health care, personal care, and food and beverage.

ESG CONSIDERATIONS

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.

   Entity/Debt             Rating         Recovery   Prior
   -----------             ------         --------   -----
Berry Global, Inc.   LT IDR BB+  Affirmed            BB+

   senior secured    LT     BBB- Affirmed   RR1      BBB-

   senior secured    LT     BBB- Affirmed   RR2      BBB-

   Senior Secured
   2nd Lien          LT     BB+  Affirmed   RR4      BB+

Berry Global
Group, Inc.          LT IDR BB+  Affirmed            BB+


BHAVI HOSPITALITY: Hires Joyce W. Lindauer as Bankruptcy Counsel
----------------------------------------------------------------
Bhavi Hospitality LLC seeks approval from the U.S. Bankruptcy Court
for the Northern District of Texas to hire Joyce W. Lindauer
Attorney, PLLC to serve as legal counsel in its Chapter 11 case.

The firm's hourly rates are as follows:
  
     Joyce W. Lindauer, Esq.         $495 per hour
     Sydney Ollar, Esq.              $295 per hour
     Laurance Boyd, Esq.             $250 per hour
     Dian Gwinnup                    $225 per hour

The Debtor paid a filing fee of $25,000.

Joyce Lindauer, Esq., the owner of the law firm, disclosed in a
court filing that she is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Joyce W. Lindauer, Esq.
     JOYCE W. LINDAUER ATTORNEY, PLLC
     1412 Main Street, Suite 500
     Dallas, TX 75202
     Telephone: (972) 503-4033
     Facsimile: (972) 503-4034
     Email: joyce@joycelindauer.com

         About Bhavi Hospitality

Bhavi Hospitality LLC, doing business as Holiday Inn Express
Forney, filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. N.D. Texas Case No. 24-30972) on April 1,
2024, with $1 million to $10 million in both assets and
liabilities. Mehul Gajera, manager, signed the petition.

Judge Scott W. Everett presides over the case.

Joyce W. Lindauer, Esq., at Joyce W. Lindauer Attorney, PLLC
represents the Debtor as bankruptcy counsel.


BIOTRICITY INC: Receives Another Nasdaq Noncompliance Notice
------------------------------------------------------------
Biotricity Inc. disclosed in a Form 8-K filed with the Securities
and Exchange Commission that on May 1, 2024, it received a letter
from The Nasdaq Stock Market stating that it is not in compliance
with the Nasdaq Listing Rule 5620(a) requiring that the Company
hold an annual meeting of stockholders within 12 months of the end
of its fiscal year.  The notification received has no immediate
effect on the Company's continued listing on the Nasdaq Capital
Market, subject to its compliance with the other continued listing
requirements.

In the letter dated May 1, 2024, Nasdaq notified the Company that
this serves as an additional basis for delisting of the Company's
securities from Nasdaq and that the letter was formal notification
that Nasdaq's Hearings Panel will consider the matter in their
decision regarding the Company's continued listing on Nasdaq
following the Company's recent hearing before the Panel on April 9,
2024.  The Company was instructed to present its views with respect
to this additional deficiency to the Panel in writing no later than
May 8, 2024.

The Company intends to hold a stockholder meeting as soon as
practicable and will provide public notice of such meeting.

                            About Biotricity

Headquartered in Redwood City, CA, Biotricity Inc. is a medical
technology company focused on biometric data monitoring and
diagnostic solutions.  The Company's aim is to deliver remote
monitoring solutions to the medical, healthcare, and consumer
markets, with a focus on diagnostic and post-diagnostic solutions
for lifestyle and chronic illnesses.

Richmond Hill, Ontario, Canada-based SRCO Professional Corporation,
the Company's auditor since 2015, issued a "going concern"
qualification in its report dated June 29, 2023, citing that the
Company has incurred recurring losses from operations, has negative
cash flows from operating activities, working capital deficiency
and has an accumulated deficit that raise substantial doubt about
its ability to continue as a going concern.

Biotricity said in its Quarterly Report for the period ended Dec.
31, 2023, that "The Company is in the early stages of
commercializing its first product and is concurrently in
development mode, operating a research and development program in
order to develop, obtain regulatory clearance for, and
commercialize other proposed products.  The Company has incurred
recurring losses from operations, and as of December 31, 2023, had
an accumulated deficit of $123.1 million and a working capital
deficiency of $14.69 million.  Those conditions raise substantial
doubt about its ability to continue as a going concern for a period
of one year from the issuance of these condensed consolidated
financial statements."


BRIGHTLINE EAST: Fitch Assigns 'B' Rating to $1.3BB Secured Notes
-----------------------------------------------------------------
Fitch Ratings has assigned a 'BBB-' rating to Brightline Trains
Florida LLC's $2.219 billion senior secured private activity bonds
(PABs) and a 'B' rating to Brightline East LLC's $1.325 billion
senior secured taxable notes. The Rating Outlook is Stable for all
debt.

RATING RATIONALE

The ratings on the proposed debt to be issued by Brightline Trains
Florida LLC (OpCo) and Brightline East LLC (BLE) reflect the
execution risk arising from the expansion of the service base in
South Florida and Orlando. Ramp-up challenges are coupled with
competition from established transport modes in the corridor.

OpCo's investment-grade rating is supported by the 30-year
fixed-price O&M contract for rolling stock and debt terms and
structural protections including cash ramp up reserves, 10-year
interest only period, and cashflow resilience when large haircuts
are applied to ridership and pricing. The distinction in the debt
ratings stems from the debt terms and structural protection, with
BLE holding subordinated cash flow rights, a narrower coverage
margin and higher refinance risk.

Fitch incorporates conservative assumptions in its rating case,
including on ridership, pricing and ancillary services haircuts,
coupled with elevated costs. The resulting financial metrics for
OpCo's bonds support a 'BBB-' expected rating, with an average debt
service coverage ratio (DSCR) of 2.5x in the first 10 years and 3x
over the debt's life. Draws on BLE's ramp-up reserves are required
to meet debt service, reflecting narrower coverage metrics. Fitch
forecasts high consolidated leverage of 14.2x at the time of
refinancing in 2030.

KEY RATING DRIVERS

Favorable Market, Limited History (Revenue Risk - Volume: Weaker):
Brightline rail service offers an alternative inter-city
transportation mode in the increasingly congested but economically
diverse and expanding south/central Florida markets. While
Brightline compares favorably in terms of travel speed, comfort,
and reliability, competition from driving and existing low-cost
rail alternatives will likely limit its market capture. As a
result, ramp-up is expected to be comparatively longer for
Brightline than for other new transportation development projects.

Ridership data to Orlando is limited, complicating the validation
of consultants' long-term forecasts, and initial fares are high
relative to competing alternatives particularly to Orlando.
Positively, Brightline benefits from some market diversity, drawing
from southern and mid-Florida markets and targeting a mix of
business and leisure travelers. Ancillary services such as parking,
concessions, and corporate sponsorships provide diversification of
revenue sources.

Independent Pricing Control (Revenue Risk - Price: Stronger):
Brightline has unencumbered ability to set and adjust rates,
independent of legislative or political interference. Current rail
fares are dynamic with the goal of achieving high ridership levels,
varying depending on travel date, time, distance and utilization.

New Facilities, Expansion Likely (Infrastructure Development and
Renewal: Midrange): Infrastructure renewal risk is low for
facilities currently in service, reflecting Brightline's recent
completion. Long-term maintenance agreements with Florida East
Coast Rail (FECR) for rail infrastructure, as well as a 30-year
fixed price agreement for rolling stock with Siemens Mobility
support upkeep and reinvestment. Brightline plans to budget
annually from cashflow to cover added rolling stock and other capex
requirements.

Brightline is currently evaluating expansion of service in the
Orlando and Tampa regions. While such a project will require
additional capital to fund construction and operational costs, this
future project will be fully separate from a security and pledge
standpoint under a separate affiliate of parent company Brightline
Florida Holdings LLC.

Multiple Tranche Structure (Debt Structure: Stronger
(Brightline)/Weaker (BLE)): OpCo's senior secured bonds are
fixed-rate and fully amortizing through maturity in 2053, while
BLE's debt contains a single bullet maturity in 2030 issued through
a parent company. BLE's debt is structurally subordinate to OpCo,
since repayment of the BLE debt is dependent on ongoing cash flow
distributions from OpCo to BLE subject to a 1.3x senior and 1.1x
total debt service coverage ratio (DSCR) distribution test at OpCo.
Fitch views favorably the requirement that additional parity debt
is subject to a rating affirmation.

Financial Profile

Financial metrics for the senior OpCo debt is strong, and
reinforced by ample upfront liquidity that is viewed as material to
support the investment-grade level given its ability to create
financial cushion in the event of volume underperformance and
cashflow stresses during ramp-up. Under Fitch's rating case,
consolidated financial metrics are weak, as exhibited by reliance
on liquidity draws to support BLE debt service prior to the bullet
maturity.

When including draws on the BLE RURA, consolidated DSCR averages
just 1.2x from 2024 to 2030, a thin level indicative of the 'B'
rating. Additionally, consolidated leverage is high at 14.2x at the
time of the refinancing in 2030. Positively, the minimum distance
to lock up ratio at OpCo of 1.5x under rating case conditions is
considered adequate.

PEER GROUP

Fitch does not publicly rate any rail service project peers in
North America relevant to Brightline. Other rated rail service
peers within Fitch's global portfolio lack the ramp-up risk
inherent in Brightline's profile, and their higher ratings reflect
their long operating histories, tested demand and stable
ridership.

Publicly-rated European rail lines include the High-Speed Rail
Finance (1) PLC (HS1; A-/Stable) and Channel Link Enterprise
Finance plc (CLEF; BBB/Stable). Both HS1 and CLEF share exposure to
Eurostar and have been operating for three decades with stabilized
passenger levels and established volume and market share leading to
investment-grade ratings.

RATING SENSITIVITIES

Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade

- Delays in the long-distance ramp-up trends and/or higher than
expected operating cost and lower revenues resulting in rapidly
declining cash balances and a shortened project runway to reach
stabilized ridership;

- Additional system debt or operational underperformance leading to
financial metrics weaker than Fitch's rating case for a sustained
period of time.

Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade

- Given the early operating history across the entire corridor of
the project, positive rating action is unlikely until the operating
profile has stabilized and metrics consistently exceed Fitch base
case expectations.

TRANSACTION SUMMARY

Florida Development Finance Corporation is issuing $2.219 billion
in tax-exempt debt on behalf of OpCo to refinance existing debt,
fund certain reserve accounts, and pay certain issuance fees and
expenses. BLE is issuing $1.325 billion in senior secured notes
that are structurally subordinate to the OpCo senior debt. Proceeds
of the BLE debt will refinance existing OpCo debt, fund certain
reserve accounts, and pay costs of issuance.

CREDIT UPDATE

Brightline is a privately owned and operated intercity high-speed
passenger rail service, offering luxury passenger services to
downtown stations in key cities in southeast and central Florida.
Short distance services began in 2018 between Miami, Aventura, Fort
Lauderdale, Boca Raton and West Palm Beach. After suspending
services in 2020 and 2021 during the Covid-19 pandemic, Brightline
completed its first full year of operation in 2022.

Long distance services began between West Palm Beach and Orlando
International Airport in September 2023, extending total system
length to 235 miles. Fitch expects Brightline to offer frequent
services, with 36 train departures daily, once fully ramped up.

Along the route that runs along the eastern coastline in southern
and central Florida, Brightline's passenger service utilizes the
tracks on FECR's freight rail corridor, with a joint-use agreement
enabling the two services to operate concurrently. Brightline and
FECR will jointly develop capital and routine maintenance programs,
with FECR responsible for maintenance of rail infrastructure and
Brightline for station maintenance.

Ridership and ticket revenue continue to grow as the long-distance
segment ramps up. For the month of March 2024, ridership was
approximately 133,928 and 124,379 for the long-distance and
short-distance segments, respectively, resulting in total revenues
of $18.1 million. Both long-distance and short-distance ridership
is expected to increase as ridership ramps up and Brightline brings
on additional passenger cars in 2024 to increase seating capacity.

Brightline's parent company is evaluating a possible extension to
Tampa, adding services to area theme parks and other destinations.
Funding plans are in preliminary stages, but the requirement for a
rating affirmation to issue additional debt mitigates associated
credit risk.

FINANCIAL ANALYSIS

Fitch's analysis included adjustments to assumed short-distance and
long-distance ridership levels and ramp-up duration given
heightened forecast uncertainties and the project's short
operational history. The sponsor case assumes a three-year ramp-up
period on the short distance segment, with ridership reaching
stabilized levels of 3.6 million in 2025. The long-distance segment
also follows a three-year ramp-up period and reaches a stabilized
ridership of 4.5 million in 2026. Ancillary revenues account for
approximately 14% of total revenues when ridership stabilizes.

The Fitch base case adopts the sponsor's projections for short
distance and long-distance ramp-up and haircuts stabilized
ridership by 10% and 20% for short distance and long distance,
respectively. The average fare for the long-distance segment is 10%
below sponsor projections and short-distance average fares match
sponsor assumptions. An additional stress is applied to ancillary
revenues to reduce the total revenue per passenger.

Growth in operating costs is stressed by 25 basis points (bps)
annually above the sponsor forecasts. Fitch applies a 100 bps
stress to the sponsor-assumed BLE refinancing rate of 11% beginning
in 2030. Under this scenario, senior operating company DSCR
averages 4.6x, with a minimum of 3.6x in 2027. Consolidated DSCR
averages a healthy 2x, excluding outliers, until the refinancing in
2030 and 2.4x post refinancing through debt maturity in 2053 when
including BLE debt.

The rating case applies additional stresses to long distance fares,
operating costs for all segments, ancillary revenues, and ridership
levels. Fitch haircuts stabilized ridership levels by 25% and 40%
for short distance and long distance, respectively. Average
short-distance fares are 15% below sponsor expectations and
long-distance fares are haircut by 15% from 2024 to 2025 and 10%
thereafter. Additionally, long distance ramp-up is delayed by one
year and reaches stabilized levels in 2027 and then grows at a CAGR
of 1.8% thereafter. The interest rate stress at the time of the BLE
refinancing is increased to 150 basis points above sponsor
assumptions.

Under the rating case, draws on the operating company's ramp-up
reserve are not needed to meet OpCo's debt service requirements and
the ramp-up reserve is released per the indenture by 2029. DSCR
averages 2.5x in the first 10 years (2026-2035), following the
prefunded interest period and when debt service is interest only,
and averages 3x over the life of the debt, excluding outliers, with
a minimum of 2x in 2026.

When considering BLE debt, consolidated DSCR prior to the bullet
maturity in 2030 averages a narrow 1.2x, inclusive of reserve draws
funded upfront at closing of the senior notes, with draws in
multiple years on the BLE designated ramp-up reserve account (RURA)
required to meet debt service requirements. Consolidated DSCR then
averages a more adequate 1.5x from the refinancing in 2030 through
debt maturity in 2053. Consolidated net leverage is elevated, at
14.2x, at the time of BLE's refinancing and coverage is indicative
of a 'B' category rating.

SECURITY

Security for the operating company debt consists of all funds
deposited from time to time in project accounts and a first lien on
collateral, including substantially all borrower assets. These
include mortgaged real property interests, personal property and
rolling stock, project revenue, project accounts and a pledge of
the membership interests in the borrower by its direct parent. The
senior lien on project revenue includes ridership fares, corporate
partnerships, ancillary spending for food and beverages, parking,
baggage, merchandising and other onboard and in station products.

Security for the BLE notes will consist of a pledge of the
membership interests in BLTF Holdings LLC, the direct owner of OpCo
and all other assets of BLE including (a) substantially all
personal property of BLE and (b) reserve accounts once funded from
distributions received from the OpCo.

DATE OF RELEVANT COMMITTEE

01 April 2024

   Entity/Debt                Rating           Prior
   -----------                ------           -----
Brightline Trains
Florida LLC

   Brightline Trains
   Florida LLC/Senior
   Secured Notes –
   Expected Rating/1 LT   LT BBB- New Rating   BBB-(EXP)

Brightline East LLC

   Brightline Trains
   Florida LLC/Senior
   Secured Notes/1 LT     LT B    New Rating   B(EXP)


BRIGHTLINE EAST: S&P Rates $1.325BB Senior Secured Debt 'B'
-----------------------------------------------------------
S&P Global Ratings has assigned a 'B' rating to Brightline East
LLC's (Parent) $1.325 billion of 144A notes with a bullet maturity
on Jan. 31, 2030. The transaction will close on May 9, 2024,
simultaneously with the closing of the Florida Development Finance
Corp. bonds for Brightline Trains Florida LLC (OpCo), which S&P
also rates.

Proceeds will be used to repay debt at OpCo and fund reserves at
Parent.

S&P bases the stable outlook on the outlook of operating subsidiary
Brightline Trains Florida because Parent's sole source of revenue
is distributions up-streamed from OpCo.

Brightline is a first-of-its-kind privately owned rail system,
fully exposed to ridership and operational risks. OpCo's senior
debt issue rating on the unenhanced portion of its 2024 bond
issuance is 'BBB-', as is the underlying rating (SPUR) on the
insured portion; the outlook on OpCo's senior debt is stable.
Because Parent relies on distributions from OpCo to repay its debt,
S&P views the risk to Parent as being a derivative of the risk to
OpCo, and it uses the same base case and downside case forecasts
for both. To temper the risks associated with cash flow based
solely on distributions subject to lock-up if OpCo breaches the
restricted payment tests, the issuer is funding significant
reserves from note proceeds, including a prefunded interest reserve
of $21 million; ramp-up reserve of $306.5 million; debt service
reserve account (DSRA) sized to three months of debt service and
initially funded to approximately $36 million; and a cash reserve
of $5 million to be used to pay administrative costs and debt
service should a lock-up at OpCo prevent dividends from being
up-streamed.

Brightline, a first-of-its-kind privately owned rail system, is
fully exposed to ridership and operational risks. OpCo's senior
debt issue rating on the unenhanced portion of its 2024 bond
issuance is 'BBB-', as is the underlying rating (SPUR) on the
insured portion; the outlook on OpCo's senior debt is stable. S&P
said, "Because Parent primarily relies on distributions from OpCo
to repay its debt we view the risk to Parent as being a derivative
of the risk to OpCo. We use the same base case and downside case
forecasts for both entities." Long-term adoption rates of rail
travel in the U.S. are somewhat uncertain. For the target
population, car travel has historically been the preferred mode for
medium-distance travel. As such, ramp-up risk at Opco and Parent is
high, somewhat mitigated by substantial liquidity in both cases.

S&P said, "We rate Parent's debt in two phases as we do Opco's.
During phase 1 (ramp-up), which we rate to the downside, the
minimum debt service coverage ratio (DSCR) is 0.13x, the lower of
the senior DSCR divided by the senior distribution test and the
consolidated DSCR. However, Parent has liquidity ($368.9 million)
to cover just over two years of its interest-only obligations. In
2024, it meets the interest obligation through the release from the
prefunded interest reserve and, in 2025, releases from a ramp-up
reserve. Parent depletes its reserves early in year three (2026),
leading to a resiliency assessment of low. Hence, we determined a
'b+' preliminary operations phase stand-alone credit profile
(SACP). There are no modifiers. This results in a 'b+' operations
phase SACP .

"Following five years of ramp-up, the second phase considers both
our base case and downside assumptions. We use the same operations
phase business assessment (OPBA) of 10 as we do for the OpCo debt.
In phase 2 (starting 2029), the minimum DSCR is 1.29x (2030), which
maps to a 'b' preliminary operations phase SACP. Under the
downside, Parent depletes its liquidity in the second year (2030)
leading to low resiliency, which results in no adjustments to the
preliminary operations phase SACP at 'b'. While Parent benefits
from an asset tail of at least 10 years and conservative
assumptions at the OpCo level that could have warranted a holistic
one-notch increase, these factors are offset by a three-month DSRA,
high leverage, and weak distribution test that allows the inclusion
of cash that has been trapped (due to failure to meet the
distribution test) in as revenue for the next calculation period.
This results in a 'b' operations phase SACP. The project SACP is
the lower of the two or 'b'.

"The issuer will fund significant reserves to temper the risks
associated with cash flow based solely on distributions subject to
lock-up if the OpCo breaches restricted payment tests.
Distributions to Parent from Opco are subject to both cash flow
sufficiency and satisfaction of senior and subordinate restricted
payment tests at OpCo. We note that subordinate debt at OpCo is not
currently permitted under the Parent finance documents, but the
transaction documents are set up to accommodate it in the future."
Additionally, cash flow sufficiency may be affected if additional
debt is issued at the OpCo. However, transaction documents limit
such issuance to no more than $50 million--comprising revolving
credit facilities and a basket of debt--without rating agency
confirmation.

As such, reserves will be funded at financial close from notes
proceeds and include a prefunded interest reserve of $21 million;
ramp-up reserve of $306.5 million; DSRA sized to three months of
debt service and initially funded to $36 million; and cash reserve
of $5 million to be used to pay administrative costs and debt
service should a lock-up at OpCo prevent dividends from being
up-streamed.

S&P said, "Limited performance data from October 2023 to March 2024
is roughly in line with our base-case assumptions. Since the
beginning of long-distance service, Brightline's daily bookings
have increased month over month, driven primarily by an expanding
repeat customer base. For the first quarter of 2024, long-distance
ridership was about 6% above our base case forecast as management
continues to build this database. Moreover, the average
long-distance fare of $78.40 for this period was about 2% higher
than our forecast and in line with management's strategy to attract
repeat customers by keeping these fares lower during the first half
of 2024. Long-distance ridership revenue, which we expect to
account for approximately 71% of ticket revenue in the first full
year of operations under our base case, was 7.9% higher in the
quarter than our base case forecast.

"Short-distance ridership revenue was about 10% lower than our base
case forecast. Ridership was 25% lower, partially offset by higher
fares. The project's ancillary revenue outperformed our forecast by
about 9%. Total expenses were moderately higher by about 3%.
Compared to our downside case forecast, the project is
outperforming for ridership and fares."

A supportive regulatory and legal framework at OpCo benefit the
debt. The U.S. Federal Railroad Administration and Surface
Transportation Board (STB) both have oversight of the nation's rail
network. While Brightline is not subject to STB oversight because
it does not provide interstate service, it shares infrastructure
with Florida East Coast Railway (FECR), which does. S&P views this
as substantially mitigating the risk of FECR ceasing to exist. In
addition, the bankruptcy code related to railroads would permit
Brightline to continue to benefit from the shared infrastructure
without FECR.

S&P said, "The stable outlook is supported by our conservative view
of key assumptions that drive our forecast of ridership and revenue
for Brightline Trains Florida. Our base case revenue forecast is
38%-54% lower than the management case (with the 54% difference
toward the end of the debt). We expect a ramp-up of five years
under our base case and six years under our downside case, compared
with management's three-year expectation. The first full year of
ramp-up and start of debt service (interest only) is 2024. We
believe that Parent has liquidity in place to cushion just over two
years of ramp-up under our downside. After that, liquidity is
adequate to support the rating. We expect OpCo to generate a base
case minimum senior DSCR of 2.57x in 2034 (excluding the ramp-up
period) and a base case minimum consolidated (OpCo and Parent) DSCR
of 1.29x in 2030.

"We would lower the rating one notch if during phase 1 we expect
the project to deplete its reserves during year 1 of ramp-up (2024)
under our downside. We would also downgrade the debt if during
phase 2 the minimum consolidated DSCR under the base case drops
significantly below 1.5x or under the downside the project depletes
its liquidity in 2029.

"While unlikely in the near term, we would raise the rating one
notch if there is no deterioration to phase 1 relative to our
base-case and downside-case forecasts (note that we rate phase 1 to
the downside), during phase 2 the base case consolidated (OpCo and
Parent) DSCR exceeds 1.5x, and under the downside project liquidity
lasts into third year (2031)."



BROTHERS GRIMM: Seeks to Hire BC Business Services as Accountant
----------------------------------------------------------------
Brothers Grimm Inc. seeks approval from the U.S. Bankruptcy Court
for the District of Idaho to employ the BC Business Services, Inc.
as its accountant.

The firm's services include general ledger assistance, consulting
services, preparation of monthly reports, and coordination with the
Debtor in the administration of its Chapter 11 case. The firm will
also set up the new books required by Chapter 11 and complete the
required reporting.

The hourly rate for Wayne Barney, owner and operator of BC
Business, is $100.

Mr. Barney 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:

     Wayne Barney
     C Business Services, Inc.
     1310 S Vistae Ave., Ste 28
     Boise, ID 83705
     Phone: (120) 857-0057

            About Brothers Grimm Inc.

Brothers Grimm Inc. transportation service provider in Nampa,
Idaho, specializing in dry, refrigerated, and expedited freight
hauling.

Brothers Grimm Inc. filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. D. Id. Case No. 24-00057)
on Feb. 9, 2024, listing $254,130 in assets and $3,977,136 in
liabilities. The petition was signed by Brad Grimm as president.

Judge Noah G. Hillen presides over the case.

D. Blair Clark, Esq. at the Law Offices of D. Blair Clark PC
represents the Debtor as counsel.


CARE NEW ENGLAND: Fitch Alters Outlook on 'BB-' Rating to Stable
----------------------------------------------------------------
Fitch Ratings has affirmed Care New England's (CNE) Issuer Default
Rating at 'BB-'. Fitch has also affirmed the Long-Term rating at
'BB-' the following series of bonds issued by or on behalf of CNE:

- $114.2 million Rhode Island Health and Educational Building
Corporation hospital financing revenue bonds series 2016B (CNE);

- $21.6 million CNE taxable series 2016C.

The Rating Outlook has been revised to Stable from Negative.

   Entity/Debt                Rating           Prior
   -----------                ------           -----
Care New England (RI)   LT IDR BB-  Affirmed   BB-

   Care New England
   (RI) /General
   Revenues/1 LT        LT     BB-  Affirmed   BB-

The Outlook revision to Stable reflects improvement in CNE's credit
profile, since Fitch assigned the Negative Outlook in 2022. A new
CEO and CFO started in December 2022 and February 2023,
respectively and other changes were made at the senior management
level. The new team initiated a series of action plans to improve
performance with operating losses narrowing in FY23 and more
recently returning to profitability in FY24.

CNE's unrestricted liquidity, while stabilized, remains challenged,
particularly given the systems elevated average age of plant and
upcoming capital needs, which is reflective of the 'BB-' rating.

Fitch believes that management has taken a sustainable approach to
operational improvement, which in combination with top line
drivers, revenue growth and cost savings should contribute to
continued modest operating profitability.

The rating is also supported by the market strength of Women and
Infants Hospital (WIH), which captures 80% of all deliveries in
Rhode Island and CNE's close relationship with Brown University
with CNE's facilities serving as teaching hospitals for the Warren
Alpert Medical School.

SECURITY

The bonds are secured by a pledge of gross revenues, a mortgage
interest in certain hospital facilities and the debt service
reserve fund.

KEY RATING DRIVERS

Revenue Defensibility - 'bbb'

Second Largest Market Share; Strength in Core Clinical Lines

CNE has approximately 29% of its gross payor mix composed of
Medicaid and self-pay patients and another 32% from Medicare.
However, much of the Medicaid volume originates from pediatric and
neo-natal services at WIH. CNE has 80 Neonatal Intensive Care Unit
beds, 136 bassinets, and delivers over 9,000 babies a year,
approximately a quarter of which are high risk pregnancies.
Neo-natal specialty services are reimbursed at a higher rate by
Medicaid than general adult services.

CNE's overall market share in the greater Providence area is
approximately 28.6%, which is the second leading market share
behind Lifespan's almost 45.5% share. CNE has a teaching
affiliation with Brown University. In 2022, CNE signed an agreement
to align their research operations with Brown's Division of Biology
and Medicine, which includes the Warren Alpert Medical School and
the Brown University School of Public Health. The agreement will
help CNE compete for larger funding opportunities.

The PSA consists of the city of Providence and five other local
communities surrounding the hospital. Population growth in the PSA
and the state has been weak compared to national levels over the
past five years. Fitch expects the service area to continue to have
population growth and median household levels that lag national
levels.

Operating Risk - 'b'

Continued Improvement Expected

CNE's operating risk profile assessment is considered 'weak' based
on the systems historically uneven operating performance. After
reporting very weak operating results in FY23, CNE adopted an
aggressive budget in FY23, and achieved it. In FY23, CNE generated
a $14 million operating loss (1.5% operating EBITDA margin)
compared with $34 million loss (0.3% operating EBITDA margin) in
the prior year. Management reports that recovery of volumes,
stabilization of labor and staffing, greater organizational
alignment along with improved payor rates have all contributed to
improved performance.

Through the first half of FY24 ended March 31, CNE continues to see
improvement in operating results and posted a $2.4 million gain
from operations, or a 2.8% operating EBITDA margin. CNE's continued
focus on operational excellence has allowed for better results
through improved clinical documentation, reductions in length of
stay, incremental rate increases combined with revenue and supply
chain optimization.

Fitch views the increased level of accountability favorably, and
believes that is in an important factor in the long-term success of
the financial improvement plan. The FY24 budget incorporates a $12
million gain from operations, which Fitch believes is achievable
based on the current momentum and continued deployment of
management's strategic initiatives. Moreover, management reports
that the second half of the fiscal year is typically stronger,
which should drive higher operating income.

CNE's average age of plant is very elevated at 21.8 years, with
capital spending over the last five years averaging below
deprecation at 65%. The low levels of capital spending have
historically been a concern for several reasons, however Fitch
notes that CNE has made progress on a couple of key projects over
the last year, which should have a positive impact on volumes,
including a new medical surgical unit at WIH, which opened in
October 2023, and the construction of a new Labor and Delivery Unit
at WIH, which is expected to open March 2025.

The project is on time and on budget, with 95% of its construction
cost being funded with philanthropy. Other significant capital
projects include a contract with EPIC to expand the use of EPIC EHR
from CNE's historical use for outpatient services to an enterprise
wide- contract for both inpatient and outpatient services. The
project is expected to go live Oct. 1, 2025 and cost $60 million to
be spent over a five-year period. The project will be funded
through CNE's operating cash flow.

Financial Profile - 'bb'

Modest but Stable Financial Profile

CNE's unrestricted reserves balance was $172.1 million as of Sept.
30, 2023, or a weak 49 days cash on hand. Its unrestricted reserves
compared with debt, as measured by cash-to-adjusted debt was a
healthier 76% and is stable from FY 2023. Cash-to-adjusted debt
included approximately $92.9 million of lease liabilities. CNE
supports multiple defined-benefit plans, most of which are frozen
with the exception of its plan for unionized workers at Butler.
Nevertheless, the plan was funded over Fitch's 80% threshold and as
such is not included in leverage ratios. Unrestricted reserves are
up slightly through March,

Fitch expects CNE will continue to post improved cash flow over the
longer-term as result of management's efficiency efforts which
should result in steady, albeit modest, improvement to the
financial profile even when accounting for an expected increase in
capital spending related information technology. CNE's investment
allocation is relatively conservative with an even split, with
about half invested in cash and fixed income and the other half in
equities. Fitch views maintenance of liquidity as key to rating
stability.

Asymmetric Additional Risk Considerations

No asymmetric risk considerations are relevant to the rating.

CNE's master trust indenture covenants include a liquidity covenant
of 30 days cash on hand (DCOH) and Debt Service Coverage of 1.1x.
at fiscal year-end. As of March 31, 2024, CNE had 48 DCOH and 3.1x
DSC.

RATING SENSITIVITIES

Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade

- A reversal of the current operating trend with CNE generating
operating losses;

- DCOH that drop to levels that are close to the 30-day covenant
threshold.

Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade

- Continued improvement in operating performance with operating
EBITDA margin sustained near 3% over the medium term;

- Continued improvement in key leverage metrics with
cash-to-adjusted debt sustained comfortably above 75%.

PROFILE

Headquartered in Providence, RI, CNE consists of WIH (243 beds),
Butler Hospital (psychiatric hospital, 143 beds), Kent Hospital
(359 beds), The Providence Center (outpatient behavioral health),
Kent County Visiting Nurses Association (VNA) and the Integra
Community Care Network, an accountable care organization. In 2017,
the 294-bed Memorial Hospital was closed except for a small
ambulatory clinic and removed from the obligated group. The system
employs approximately 300 physicians. CNE had operating revenues of
$1.3 billion in in fiscal 2023. Fitch's analysis and financial
ratios are based on consolidated financial statements.

ESG CONSIDERATIONS

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.


CARVANA CO: Posts $49 Million Net Income in First Quarter
---------------------------------------------------------
Carvana Co. filed with the Securities and Exchange Commission its
Quarterly Report on Form 10-Q reporting net income of $49 million
on $3.06 billion of net sales and operating revenues for the three
months ended March 31, 2024, compared to a net loss of $286 million
on $2.61 billion of net sales and operating revenues for the three
months ended March 31, 2023.

As of March 31, 2024, the Company had $6.98 billion in total
assets, $7.29 billion in total liabilities, and a total
stockholders' deficit of $311 million.

"In the first quarter, we delivered our best results in company
history, validating our long-held belief that Carvana's online
retail model can drive industry-leading profitability while
delivering industry-leading customer experiences.  We reached new
Q1 milestones for all key profitability metrics while also growing
16% year over year," says Ernie Garcia, Carvana founder and chief
executive officer.  "With these strong results, significant
fundamental margin opportunities ahead, and a nationwide
infrastructure that can support multiples of our current scale, we
have never been more confident in our opportunity to become the
largest and most profitable automotive retailer and to buy and sell
millions of cars."

Q1 2024 Highlights

In Q1 2024, Carvana sold 91,878 retail units (+16% YoY) for total
revenue of $3.061 billion (+17% YoY) while reaching new
profitability milestones, including:

   * Record Q1 Net Income of $49 million2 and Net Income margin of

     1.6%

   * Record Adjusted EBITDA of $235 million

   * Record 7.7% Adjusted EBITDA margin, higher than all U.S.
     publicly traded automotive retailers in Q1

   * Record GAAP Operating Income of $134 million

   * Record Q1 Total Gross Profit per Unit ("GPU") of $6,432 (+
     $2,129 YoY) and Non-GAAP Total GPU of $6,802 (+$2,006 YoY)

In addition, Carvana's Adjusted EBITDA now significantly exceeds
capital expenditures and interest expense, and the company plans to
pay cash interest on its 2028 and 2030 Senior Secured Notes on both
semiannual payment dates in 2025.

A full-text copy of the Form 10-Q is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/1690820/000169082024000165/cvna-20240331.htm

                            About Carvana

Founded in 2012 and based in Tempe, Arizona, Carvana Co. --
http://www.carvana.com-- is an e-commerce platform for buying and
selling used cars.  The Company is transforming the used car buying
and selling experience by giving consumers what they want, a wide
selection, great value and quality, transparent pricing, and a
simple, no pressure transaction.  Each element of its business,
from inventory procurement to fulfillment and overall ease of the
online transaction, has been built for this singular purpose.

                           *    *    *

As reported by the TCR on Sept. 13, 2023, S&P Global Ratings raised
its issuer credit rating on U.S.-based Carvana Co. to 'CCC+' from
'D'.  S&P said, "The negative outlook reflects our expectation that
we could downgrade the company if the company's performance were to
deteriorate further such that we believe liquidity would become
constrained or if we believe there is a likelihood the company
could conduct a distressed restructuring over the next 12 months.
The upgrade to 'CCC+' reflects the near-term improvement in the
company's liquidity position, though the capital structure remains
unsustainable."

Moody's Investors Service upgraded Carvana Co.'s corporate family
rating to Caa3 from Ca, the TCR reported on Sept. 22, 2023.
Moody's said the upgrade of Carvana's CFR to Caa3 reflects the
completion of its debt exchange that pushes out some near-term
maturities, reduces outstanding debt and materially reduces cash
interest expense in the two years following the exchange.


CELULARITY INC: No Longer Complies With Nasdaq Listing Requirement
------------------------------------------------------------------
As reported by Celularity Inc. in its Form 12b-25 Notification of
Late Filing with the Securities and Exchange Commission on April 1,
2024, Celularity was unable to file its Annual Report on Form 10-K
for the year ended Dec. 31, 2024 within the prescribed time period.
The extension provided under Rule 12b-25 expired on April 15,
2024.

On April 17, 2024, Celularity informed the Listing Qualifications
department of the Nasdaq Stock Market LLC that it failed to timely
file its 2023 Form 10-K within the extension period provided by
Rule 12b-25 because Celularity had not yet completed the
preparation of the financial statements for the year ended Dec. 31,
2023.  On
April 17, 2024, Nasdaq provided formal notice to Celularity that as
a result of Celularity's failure to timely file its 2023 Form 10-K,
it no longer complied with the continued listing requirements under
the timely filing criteria outlined in Nasdaq Listing Rule
5250(c)(1).  Nasdaq's notice has no immediate effect on the listing
of Celularity's common stock and warrants, which continue to trade
on the Nasdaq Capital Market under the symbols "CELU" and "CELUW",
respectively.

Celularity is required to submit to Nasdaq a plan to regain
compliance within 60 calendar days, or by June 17, 2024, and if
accepted, Celularity has a period of 180 calendar days from the
2023 Form 10-K due date, or until or until Oct. 14, 2024, to
implement the plan to regain compliance.  Celularity intends to
submit a plan to Nasdaq within the 60-day period and will evaluate
available options to regain compliance within the compliance
period.  However, there can be no assurance that Celularity will
regain compliance within the compliance period or maintain
compliance with the other Nasdaq listing requirements.  If it
appears to Nasdaq that Celularity will not be able to cure the
deficiency, or if Celularity is otherwise not eligible, Nasdaq will
provide notification that Celularity's common stock will be subject
to delisting.

                           About Celularity

Celularity Inc. (Nasdaq: CELU) headquartered in Florham Park, N.J.,
is a biotechnology company leading the next evolution in cellular
and regenerative medicine by developing allogeneic cryopreserved
off-the-shelf placental-derived cell therapies, including
therapeutic programs using mesenchymal-like adherent stromal cells
(MLASCs), T-cells engineered with CAR (CAR T-cells), and
genetically modified and unmodified natural killer (NK) cells.
These therapeutic programs target indications in autoimmune,
infectious and degenerative diseases, and cancer.  In addition,
Celularity develops, manufactures and commercializes innovative
biomaterial products also derived from the postpartum placenta.
Celularity believes that by harnessing the placenta's unique
biology and ready availability, it can develop therapeutic
solutions that address significant unmet global needs for
effective, accessible, and affordable therapies.

"We have incurred net losses in every period since our inception,
have no cellular therapeutic candidates approved for commercial
sale and we anticipate that we will incur substantial net losses in
the future.  There is substantial doubt about our ability to
continue as a going concern, which may affect our ability to obtain
future financing and may require us to curtail our operations.  We
will need to raise additional capital to support our operations.
This additional funding may not be available on acceptable terms or
at all.  Failure to obtain this necessary capital or address our
liquidity needs may force us to delay, limit or terminate our
operations, make further reductions in our workforce, discontinue
our commercialization efforts for our biomaterials products as well
as other clinical trial programs, liquidate all or a portion of our
assets or pursue other strategic alternatives, and/or seek
protection under the provisions of the U.S. Bankruptcy Code,"
Celularity said in its Quarterly Report for the period ended
Sept. 30, 2023.


CFMT TRUST 2021-AL1: Moody's Cuts Rating on Cl. C-2 Notes From Ba2
------------------------------------------------------------------
Moody's Ratings takes action on five classes of bonds issued from
three auto loan securitizations. The bonds are backed by pools of
retail automobile loan contracts originated and serviced by
multiple parties.

A comprehensive review of all credit ratings for the respective
transactions has been conducted during a rating committee.

The complete rating actions are as follows:

Issuer: CFMT 2021-AL1 Trust

Class B Notes, Upgraded to Aa2 (sf); previously on Nov 30, 2021
Definitive Rating Assigned Aa3 (sf)

Class C-1 Notes, Upgraded to Baa1 (sf); previously on Nov 30, 2021
Definitive Rating Assigned Baa3 (sf)

Class C-2 Notes, Upgraded to Baa3 (sf); previously on Nov 30, 2021
Definitive Rating Assigned Ba2 (sf)

Issuer: Juniper Receivables 2019-2 DAC

Class A Asset Backed Notes, Upgraded to Aaa (sf); previously on Jul
14, 2023 Upgraded to Baa1 (sf)

Issuer: Juniper Receivables 2020-1 DAC

Class A Asset Backed Notes, Upgraded to Aaa (sf); previously on Jul
14, 2023 Upgraded to Baa1 (sf)

RATINGS RATIONALE

The upgrade actions are driven by a reduction in Moody's cumulative
net loss expectations for the underlying pools, prompted by  strong
and stable pool performance.

The upgrade actions for Juniper Receivables 2019-2 DAC (Juniper
2019-2) and Juniper Receivables 2020-1 DAC (Juniper 2020-1) are
also driven by the buildup of credit enhancement for the notes. The
reserve account has increased as a portion of the pool balance,
building to 5.4% as of the April payment date from 1.7% at closing
for Juniper 2019-2 and to 4.8% from 2.0% for Juniper 2020-1 over
the same period.

Moody's lifetime cumulative net loss expectations are noted below
for the transaction pools. The loss expectations reflect updated
performance trends on the underlying pools.

Juniper Receivables 2019-2 DAC: 2.05%

Juniper Receivables 2020-1 DAC: 1.65%

CFMT 2021-AL1 Trust: 0.30%

PRINCIPAL METHODOLOGY

The principal methodology used in these ratings was "Moody's Global
Approach to Rating Auto Loan- and Lease-Backed ABS" published in
November 2023.

Factors that would lead to an upgrade or downgrade of the ratings:

Up

Levels of credit protection that are greater than necessary to
protect investors against current expectations of loss could lead
to an upgrade of the ratings. Losses could decline from Moody's
original expectations as a result of a lower number of obligor
defaults or greater recoveries from the value of the vehicles
securing the obligors promise of payment. The US job market and the
market for used vehicles are also primary drivers of the
transaction's performance. Other reasons for better-than-expected
performance include changes in servicing practices to maximize
collections on the loans or refinancing opportunities that result
in a prepayment of the loan.

Down

Levels of credit protection that are insufficient to protect
investors against current expectations of loss could lead to a
downgrade of the ratings. Losses could increase from Moody's
original expectations as a result of a higher number of obligor
defaults or a deterioration in the value of the vehicles securing
the obligors promise of payment. The US job market and the market
for used vehicles are also primary drivers of the transaction's
performance. Other reasons for worse-than-expected performance
include poor servicing, error on the part of transaction parties
including further restatement of performance data, lack of
transactional governance and fraud.


CLEAN ENERGY: Xiaotian Xiao Joins Board of Directors
----------------------------------------------------
Clean Energy Technologies, Inc. disclosed in a Form 8-K Report
filed with the U.S. Securities and Exchange Commission that on
April 26, 2024, the Company's board of directors accepted the
resignation of Mr. Matthew Smith as a director of the Company,
effective immediately. Mr. Smith is resigning for personal reasons
and there were no disagreements between Mr. Smith and the Company.

In relation to Mr. Smith's resignation on April 26, 2024, the Board
approved Mr. Xiaotian Xiao to the Board and his appointment as a
member of the Audit Committee of the Board, effective immediately.

Mr. Xiaotian Xiao currently serves as the equity investment partner
at Gold Endavor Capital covering the investments in the new energy
and robotic/automobile industry. Prior to that, he was the special
assistant to chairman at Hybrid Kinetic Motors (1188.HK) from May
2015 to August 2020, and the chief operation officer at Yegiaro
Group, a subsidiary of Hybrid Kinetic Motors, from May 2015 to
August 2020. Mr. Xiao received his Master of Business
Administration degree from the Marshal School of Business,
University of Southern California in 2015.

There are no transactions since the beginning of the Company's last
fiscal year in which the Company is a participant and in which Mr.
Xiao or any members of his immediate family have any interest that
are required to be reported under Item 404(a) of Regulation S-K. No
family relationships exist between Mr. Xiao and any of the
Company's directors or executive officers. The appointment of Mr.
Xiao was not pursuant to any arrangement or understanding between
him and any person, other than a director or executive officer of
the Company acting in his or her official capacity. Mr. Xiao has
not entered into any material plan, contract or arrangement with
the Company in connection with his appointment as a member of the
Board either.

                      About Clean Energy

Headquartered in Costa Mesa, California, Clean Energy Technologies,
Inc. -- http://www.cetyinc.com-- develops renewable energy
products and solutions and establish partnerships in renewable
energy that make environmental and economic sense.  The Company's
mission is to be a segment leader in the Zero Emission Revolution
by offering eco-friendly energy solutions, clean energy fuels and
alternative electric power for small and mid-sized projects in
North America, Europe, and Asia.  The Company targets sustainable
energy solutions that are profitable for it, profitable for its
customers and represent the future of global energy production.

As of Dec. 31, 2023, the Company had $10.93 million in total
assets, $5.06 million in total liabilities, and $5.87 million in
total stockholders' equity.

Diamond Bar, California-based TAAD, LLP, the Company's auditor
since 2023, issued a "going concern" qualification in its report
dated April 16, 2024, 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.



CLEARPOINT NEURO: Incurs $4.1 Million Net Loss in First Quarter
---------------------------------------------------------------
Clearpoint Neuro, Inc., filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q reporting a net loss
of $4.15 million on $7.64 million of total revenue for the three
months ended March 31, 2024, compared to a net loss of $5.61
million on $5.43 million of total revenue for the three months
ended March 31, 2023.

As of March 31, 2024, the Company had $53.64 million in total
assets, $19.05 million in total liabilities, and $34.58 million in
total stockholders' equity.

The Company has incurred net losses since its inception, which has
resulted in a cumulative deficit at March 31, 2024 of $176.6
million.  In addition, the Company's use of cash from operations
amounted to $3.8 million for the three months ended March 31, 2024,
and $13.7 million for the year ended Dec. 31, 2023.

ClearPoint said, "Since inception, we have financed our operations
principally from the sale of equity securities and the issuance of
notes payable.  In 2020, we issued secured convertible notes to two
investors which raised gross proceeds of $25 million, of which $15
million has been converted to common stock and $10 million remains
outstanding.

"In March 2024, the Company completed a public offering of
2,653,848 shares of its common stock from which the net proceeds
totaled approximately $16.2 million after deducting underwriting
discounts and commissions, and other offering expenses paid by the
Company.  As a result of these transactions and our business
operations, our cash and cash equivalents totaled $35.4 million at
March 31, 2024. In management's opinion, based on our current
forecasts for revenue, expense and cash flows, our existing cash
and cash equivalent balances at March 31, 2024, are sufficient to
support our operations and meet our obligations for at least the
next twelve months."

A full-text copy of the Form 10-Q is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001285550/000128555024000051/clpt-20240331.htm

                      About ClearPoint Neuro

ClearPoint Neuro, Inc. formerly MRI Interventions, Inc. --
http://www.clearpointneuro.com/-- is a commercial-stage medical
device company, incorporated in 1998 as a Delaware corporation,
that develops and commercializes innovative platforms for
performing minimally invasive surgical procedures in the brain.
From its inception in 1998, the Company has deployed significant
resources to fund its efforts to develop the foundational
capabilities for enabling magnetic resonance imaging ("MRI") guided
interventions, building an intellectual property portfolio, and
identifying and building out commercial applications for the
technologies we develop.  In 2021, the Company's efforts expanded
beyond the MRI suite to encompass development and commercialization
of neurosurgical device products for the operating room setting, as
well as consulting services for pharmaceutical companies.  The
Company's products have been installed or used at over 75 centers
globally.

Clearpoint Neuro reported a net loss of $22.10 million in 2023, a
net loss of $16.43 million in 2022, a net loss of $14.41 million in
2021, a net loss of $6.78 million in 2020, a net loss of $5.54
million in 2019, and a net loss of $6.16 million in 2018.



CLOUD SOFTWARE: Moody's Rates New Secured First Lien Notes 'B2'
---------------------------------------------------------------
Moody's Ratings assigned a B2 rating to Cloud Software Group,
Inc.'s (CSG) proposed senior secured 1st lien notes. The ratings
outlook is stable.

The net proceeds of the offering will be used to prepay a portion
of the loans outstanding under the Senior Secured Term Loan A
facility, with the remainder to be used for general corporate
purposes, which are expected to include payment of a dividend to
CSG's indirect parent to finance the redemption of all or a portion
of the Series A Preferred Stock issued by the indirect parent.

RATINGS RATIONALE

The B3 CFR reflects high leverage and the risks of continued
aggressive financial policies. Moody's expects debt to EBITDA to
remain in the 7x region through fiscal year 2025. At the same time,
CSG continues to evaluate acquisitions.

While the business supports the current capital structure, revenue
and leverage may be somewhat volatile in coming quarters as a
result of the reduced benefit from conversion of maintenance to
subscription revenue, exacerbated by a slower than expected
conversion rate among the company's Citrix customer base, the
recent exit of the services business, as well as the ongoing wind
down of the company's non-recurring streams. That said, CSG has
seen healthy growth in its annualized recurring revenue (ARR) base,
which stood at approximately $4.4 billion at February 28, 2024.
Additionally, CSG continues to benefit from strong gross and net
retention rates near 90% and 105%, respectively.

CSG is on track to deliver sizable cost savings of nearly $575
million by fiscal year end 2025, benefiting already solid margins.
Moody's expects the company to achieve low- to mid 50% EBITDA
margins (Moody's adjusted) as a result. CSG's strong EBITDA margins
and low capital expenditures drives  cash generation that is needed
to fund its high debt service costs. Moody's expects CSG will
generate free cash flow in excess of $400 million in FY24 (before
preferred dividends) and in excess of $500 million in FY25 as the
company faces lower cash restructuring costs and reduced working
capital uses.

The 1st lien credit facilities and notes benefit from the first
priority security interest in substantially all tangible and
intangible assets of the borrowers and guarantor subsidiaries, and
a large amount of second-priority debt in the capital structure.
The 2nd lien notes face higher loss absorption in the event of
default.

CSG's liquidity is good, supported by $695 million in unrestricted
cash at February 28, 2024. CSG also maintains access to the undrawn
$1 billion total of revolving credit facilities terminating in
September 2027. Liquidity is further supported by Moody's
expectation of $400 million to $500 million in annual free cash
flow generation (before dividends) over the next 12-18 months.

The stable outlook incorporates Moody's expectations that CSG will
maintain good liquidity, and its ARR will grow approximately 3%,
and free cash flow will increase to 3% of total debt in FY24.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATING

Moody's could upgrade CSG's ratings if the company generates
revenue growth in the mid-single digits and sustains free cash flow
of 5% of total adjusted debt; maintains good liquidity; and commits
to and maintains total debt to EBITDA (Moody's adjusted) of less
than 6x. The ratings could be downgraded if execution challenges or
weak operating performance result in negative free cash flow for an
extended period of time; growth in annualized recurring revenue
fails to materialize; or liquidity becomes weak.

Cloud Software Group, Inc. (f/k/a TIBCO Software Inc.) was formed
in September 2022 via the acquisition of Citrix Systems, Inc. CSG
is a provider of enterprise software and applications. The ultimate
parent company of CSG is majority-owned by affiliates of Vista
Equity Partners with affiliates of Elliott Investment Management
L.P. owning a sizeable minority interest.

The principal methodology used in this rating was Software
published in June 2022.


CLOUD SOFTWARE: S&P Rates Senior Secured First-Lien Notes 'B'
-------------------------------------------------------------
S&P Global Ratings assigned its 'B' issue-level rating to
U.S.-based software provider Cloud Software Group Holdings Inc.'s
planned offering of $1 billion of senior secured first-lien notes
(issued by Cloud Software Group Inc.). S&P expects the company will
use the issuance to repay a portion of its existing term loan A,
redeem the outstanding holdco preferred shares, pay preferred share
dividends, and fund balance sheet cash.

The issuance will increase debt to EBITDA slightly, but doesn't
materially change our current rating expectations. S&P said, "All
our ratings on Cloud Software Group including our 'B' issuer credit
rating are unchanged. We expect good annual revenue growth of about
6% and improved EBITDA margins to support Cloud Software Group's
steady deleveraging over the next 12 months."

As the company's restructuring costs have decreased and savings are
realized, EBITDA margin will likely improve to about 51% in fiscal
2024 from 47% in fiscal 2023. This should support debt to EBITDA of
about 7.3x at the end of fiscal 2024 (compared with 8.2x in fiscal
2023) and annual free operating cash flow (FOCF) of about $475
million or about 2.8% FOCF to debt. S&P expects the company to
achieve FOCF to debt of at least 3% over time.

This deleveraging also reflects the company's recent first-quarter
earnings, which were exceptionally strong as evidenced by the
significant EBITDA expansion from meaningful long-term subscription
conversions. S&P expects adjusted leverage will likely rise above
7.5x in fiscal 2025 as EBITDA normalizes over the next several
quarters, but will remain below its 9x downgrade trigger.

The preferred share redemptions have contributed to Cloud Software
Group's rising first-lien secured debt comprising about 78% of the
total funded debt following the proposed transaction. The recent
offerings of $2 billion of term loans issued in November 2023 and
March 2024 and the proposed bond offering will increase debt to
about $18 billion.

S&P said, "Despite rising first-lien debt, our issue-level rating
on this debt is 'B', the same as our issuer credit rating on the
company. The recovery rating is '3'. Our issue-level and recovery
ratings on the company's $3.8 billion second-lien notes are 'B-'
and '5'. We rate this debt one-notch lower given the subordination
in the capital structure."

ISSUE RATINGS – RECOVERY ANALYSIS

Key analytical factors

-- The '3' recovery rating on the first-lien secured debt is
unchanged.

-- The '5' recovery rating on the second-lien secured debt is
unchanged.

-- The capital structure includes about $14 billion of funded debt
secured by a first lien and about $3.8 billion of notes secured by
a second lien.

-- About 40% of the enterprise value is ascribed to the primary
guarantors of the obligations.

S&P said, "Our simulated default assumes weaker macroeconomic
conditions, increased competition, business disruptions arising
from cost actions that lead to the loss of its competitive
advantage and weakened liquidity and cash flow generation. This
leads to a default in 2027.

"We value Cloud Software Group as a going concern because we
believe that, following a payment default, its technologies,
long-standing incumbent position with its customers, and
subscription revenue base would likely hold considerable value,
which supports our expectation that the company would be
reorganized rather than liquidated.

"We apply a 7x multiple to an estimated distressed emergence EBITDA
of $1.4 billion to estimate a net enterprise value of about $9.4
billion at emergence. The multiple is consistent with that of other
technology software companies with similar scale and market
positions."

Simulated default assumptions

-- Simulated year of default: 2027
-- EBITDA at emergence: $1.4 billion
-- EBITDA multiple: 7x

Simplified waterfall

-- Net enterprise value (after 5% administrative costs): $9.4
billion

-- Valuation split (obligors/nonobligors): 39%/61%

-- Collateral value available to first-lien creditors: $7.4
billion

-- Value available to unsecured claims: $2.0 billion

-- Secured first-lien debt: $15.2 billion

    --Recovery expectations: 50%-70% (rounded estimate: 55%)

-- Collateral value available to second-lien creditors: N/A
million

-- Secured second-lien debt: $4.0 billion

    --Recovery expectations: 10%-30% (rounded estimate: 15%)



COBRA ACQUISITIONCO: Moody's Cuts CFR & Sr. Unsecured Notes to B3
-----------------------------------------------------------------
Moody's Ratings has downgraded the corporate family rating and the
long-term senior unsecured rating of Cobra AcquisitionCo LLC, the
holding company of Exeter Finance LLC (together referred to as
"Exeter"), to B3 from B2. The outlook changed to stable from
negative.

RATINGS RATIONALE

The downgrade of Exeter's CFR to B3 reflects Moody's expectation
that the company will continue to maintain high leverage relative
to its non-prime auto loan portfolio. Exeter's capital, measured as
tangible common equity plus allowance for loan losses to tangible
assets, was approximately 5.4% at December 31, 2023. Moody's views
Exeter's capital management policy as a key driver of the rating
downgrade, and an important consideration in Moody's assessment of
governance under its General Principles for Assessing
Environmental, Social and Governance Risks methodology.

Approximately 65% of the company's auto originations consists of
borrowers with a FICO score of less 600, which in 2023 resulted in
net charge-offs to average gross loans of approximately 10% (based
on Exeter's calculations), the weakest asset quality performance
amongst peers. Additionally, the entire loan portfolio is now
classified as held-for-sale, and is marked-to-market on a quarterly
basis with no reserves for loan losses. This may create additional
pressure on capital in the event that unexpected losses are
realized.

The ratings also reflect Exeter's reliance on secured funding for
the majority of its financing activities. The company's secured
debt to total assets was a high 86.4% as of December 31, 2023.

The ratings are supported by the company's good earnings profile,
driven by its well-managed loan origination model through its
technology-enabled platform, as well as the firm's demonstrated
access to funding. Notably, Exeter slowed down its loan
originations early in 2022 when it observed that asset quality was
deteriorating faster than expected, thus improving the loss profile
of its new originations in 2023. As of December 31, 2023, Exeter
had combined liquidity of $163 million, which includes cash,
availability under several warehouse facilities, and unencumbered
assets.

The stable outlook reflects Moody's expectation that Exeter's
capitalization will remain stable while the company maintains net
charge-offs to average gross loans of less than 8% on a sustained
basis. The stable outlook also incorporates Moody's expectations
that capital preservation will be prioritized over capital
distributions.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

Exeter's ratings could be upgraded if the company substantially
improves its capitalization, as measured by tangible common equity
to tangible managed assets, without increasing asset risk; and
diversifies its sources of funding, reducing its reliance on
secured debt and improving access to alternative liquidity.

Exeter's ratings could be downgraded if the company's
capitalization decreases further, or if funding and liquidity
weaken. Unexpected operational issues, regulatory fines, or a
significant deterioration in credit quality resulting in
higher-than-expected credit losses would also be negative for the
ratings.

Cobra AcquisitionCo LLC is the holding company of Exeter Finance
LLC, a US non-prime auto lender with about $8.6 billion in total
assets as of December 31, 2023, owned by an investor group led by
Warburg Pincus LLC since 2021. Exeter underwrites, purchases,
services, and securitizes auto loans through its network of
approximately 13,000 auto dealers and strategic partnerships. The
company underwrites loans for new and used vehicles, primarily to
non-prime borrowers.

The principal methodology used in these ratings was Finance
Companies Methodology published in November 2019.


CORNERSTONE ONDEMAND: S&P Alters Outlook to Stable, Affirms B- ICR
------------------------------------------------------------------
S&P Global Ratings revised its outlook on Cornerstone OnDemand
Inc., a learning and people development software provider, to
stable from negative and affirmed its 'B-' issuer credit rating.
S&P also affirmed its 'B-' issue-level and '3' recovery rating on
its first-lien term loan and 'CCC+' issue-level and '5' recovery
rating on its second-lien term loan.

The stable outlook reflects S&P's expectation that Cornerstone's
mid-single-digit percent growth, mid-90% recurring revenue, EBITDA
margins in the low-30% area, positive free operating cash flow
(FOCF) generation, and good total liquidity will help it sustain
its capital structure through its high leverage and tough
enterprise spending environment.

Due to one-time costs rolling off and decreasing unvested
restricted stock unit (RSU) cash payments, S&P projects Cornerstone
will generate positive FOCF in 2024. Since its leveraged buyout
(LBO) in September 2021, Cornerstone has struggled to generate
positive FOCF. After the LBO, Cornerstone implemented a large
unvested RSU cash payment program that used cash payments to
satisfy unvested RSUs to retain its top talent in 2022 and 2023.
Cornerstone was also aggressive with debt-funded acquisitions of
EdCast and SumTotal that led to large one-time integration and
transaction costs in 2022. Lastly, the increase in interest expense
severely hampered Cornestone's ability to generate FOCF, leading it
to undertake an additional cost savings plan in the first quarter
of 2023. Due to all these issues, the company generated significant
negative FOCF in 2022 and 2023.

S&P said, "However, we believe Cornerstone is past all these
headwinds to its FOCF generation. Its unvested RSU cash payments
will be less than $10 million in 2024 and 2025. We expect
Cornerstone to continue to improve its S&P Global Ratings-adjusted
EBITDA margins to the low-30% area in 2024 as one-time integration
and transaction costs roll off. We believe Cornerstone will
continue to see mid-single-digit percent revenue growth as demand
for its people and learning solutions remains stable. The company
also implemented interest rate swaps that will keep 2024 interest
expense relatively close to 2023 levels. We expect it to generate
more than $35 million in FOCF in 2024, which will be sufficient to
cover the expected $24 million in debt amortization payments.

"The stable outlook reflects our expectation that Cornerstone's
mid-single-digit percent growth, mid-90% recurring revenue, EBITDA
margins in the low-30% area, positive FOCF generation, and good
total liquidity will help it sustain its capital structure through
its high leverage and tough enterprise spending environment.

"We could lower the rating if we believe Cornerstone's capital
structure is unsustainable. This could be due to continued
restructuring cost or cost saving expenses, macroeconomic
headwinds, debt-funded acquisitions or shareholder returns, or
competitive pressures such that Cornerstone generates negative FOCF
after debt service.

"While unlikely over the next 12 months, we could look to upgrade
Cornerstone if it decreases leverage below the mid-7x area,
inclusive of the preferred equity, and generates FOCF to debt above
4% and we believe the company intended to sustain these levels
through acquisitions and shareholder returns. This could occur if
Cornerstone improves its top line on strong demand for its learning
and people development solutions and EBITDA margins through
operating leverage.

"Governance factors are a moderately negative consideration in our
credit rating analysis of Cornerstone, as is the case for most
rated entities owned by private-equity sponsors. We believe the
company's highly leveraged financial risk profile points to
corporate decision-making that prioritizes the interests of its
controlling owners. This also reflects private-equity owners'
generally finite holding periods and focus on maximizing
shareholder returns."

Environmental and social factors are neutral to S&P's analysis of
Cornerstone.



COSMOS HEALTH: Dismisses KPMG as Auditor
----------------------------------------
Cosmos Health Inc. disclosed in a Form 8-K filed with the
Securities and Exchange Commission that on April 26, 2024, it
dismissed KPMG Certified Auditors S.A., Athens, Greece, as the
Company's independent registered accountant, effective immediately.
The Company's Audit Committee, mindful of certain filing deadlines
under the US securities laws, unanimously voted in favor to dismiss
KPMG as the Company's independent auditors.  KPMG was unable to
complete the audit of the Company's financial statements for the
year ended Dec. 31, 2023 on a timely basis.  The Company's Board of
Directors agreed with such recommendation.

KPMG had previously been appointed on Aug. 7, 2023 as the Company's
independent registered public accounting firm with the engagement
of the review the Company's Third Quarter Form 10-Q and the audit
of the Company's consolidated financial statements as of and for
the fiscal year ended Dec. 31, 2023.  As previously disclosed,
during the two most recent fiscal years and through Aug. 7, 2023,
the Company had not consulted with KPMG regarding any matter that
was the subject of a disagreement or a reportable event described
in Items 304(a)(1)(iv) or (v), respectively, of Regulation S-K
under the Securities Exchange Act of 1934.

During the subsequent interim period from Aug. 7, 2023 through
April 25, 2024, there were no (a) disagreements with KPMG on any
matter of accounting principles or practices, financial statement
disclosures, or auditing scope or procedure, which disagreements,
if not resolved to KPMG's satisfaction, would have caused KPMG to
make reference to the subject matter thereof in connection with its
report for such period; or (b) reportable events, as described
under Item 304(a)(1)(v) of Regulation S-K.

                        About Cosmos Health

Cosmos Health Inc. (Nasdaq: COSM), incorporated in 2009 in Nevada,
is a diversified, vertically integrated global healthcare group.
The Company owns a portfolio of proprietary pharmaceutical and
nutraceutical brands, including Sky Premium Life, Mediterranation,
bio-bebe and C-Sept.  Through its subsidiary Cana Laboratories
S.A., licensed under European Good Manufacturing Practices (GMP)
and certified by the European Medicines Agency, it manufactures
pharmaceuticals, food supplements, cosmetics, biocides, and medical
devices within the European Union.  Cosmos Health also distributes
a broad line of pharmaceuticals and parapharmaceuticals, including
branded generics and OTC medications, to retail pharmacies and
wholesale distributors through its subsidiaries in Greece and the
UK. Furthermore, the Company has established R&D partnerships
targeting major health disorders such as obesity, diabetes, and
cancer, enhanced by artificial intelligence drug repurposing
technologies, and focuses on the R&D of novel patented
nutraceuticals, specialized root extracts, proprietary complex
generics, and innovative OTC products. Cosmos Health has also
entered the telehealth space through the acquisition of ZipDoctor,
Inc., based in Texas, USA.  With a global distribution platform,
the Company is currently expanding throughout Europe, Asia, and
North America, and has offices and distribution centers in
Thessaloniki and Athens, Greece, and in Harlow, UK.


DERMTECH INC: Van Herk Entities Acquire 5.1% Equity Stake
---------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, these entities reported beneficial ownership of shares
of common stock of DermTech, Inc. as of April 19, 2024:

                                             Shares       Percent
                                          Beneficially      of
  Reporting Person                           Owned        Class
  ----------------                        ------------    -------
  Van Herk Investments B.V.                 1,778,057      5.1%

  Van Herk Investments THI B.V.             1,778,057      5.1%

  Van Herk Private Equity Investments B.V.  1,778,057      5.1%

  Stichting Administratiekantoor Penulata   1,778,057      5.1%

  Van Herk Management Services B.V.         1,778,057      5.1%

  Onroerend Goed Beheer- en
  Beleggingsmaatschappij A. van Herk B.V.   1,778,057      5.1%

  A. van Herk Holding B.V.                  1,778,057      5.1%

  Stichting Administratiekantoor Abchrys    1,778,057      5.1%

  Adrianus van Herk                         1,778,057      5.1%

A full-text copy of the regulatory filing is available for free
at:

https://www.sec.gov/Archives/edgar/data/1633120/000110465924053184/tm2412585d1_sc13g.htm

                       About DermTech, Inc.

San Diego, Calif.-based DermTech, Inc. is a molecular diagnostic
company developing and marketing novel non-invasive genomics tests
to aid in the diagnosis and management of melanoma.

San Diego, CA-based KPMG LLP, the Company's auditor since 2016,
issued a "going concern" qualification in its report dated February
29, 2024, citing that the Company has suffered recurring losses
from operations and has an accumulated deficit that raise
substantial doubt about its ability to continue as a going concern.


DOMAN BUILDING: Moody's Ups CFR to Ba3 & Sr. Unsecured Notes to B1
------------------------------------------------------------------
Moody's Ratings upgraded Doman Building Materials Group Ltd.'s
corporate family rating to Ba3 from B1, probability of default
rating to Ba3-PD from B1-PD and senior unsecured notes rating to B1
from B3. The speculative grade liquidity rating (SGL) is unchanged
at SGL-3. The outlook is maintained at stable.

"The upgrade reflects Doman's strong operational performance
despite trough pricing environment for wood products, continued
progress in reducing debt and Moody's expectation that financial
leverage will remain below 4x over the next 12 to 18 months" said
Mikhil Mahore, Moody's analyst.

RATINGS RATIONALE

Doman's rating (Ba3 stable) benefits from: (1) strong positions in
the Canadian building materials distribution and North American
pressure treated lumber markets; (2) good geographical
diversification with some vertical integration; (3) good repair,
renovation and remodeling market fundamentals with decent long-term
growth prospect; (4) Moody's expectation that financial leverage
will remain below 4x in the next 12-18 months.

The rating is constrained by (1) concentration in the North
American renovation, repair and remodel end market (primarily
decking and fencing); (2) exposure to sudden and sharp drops in
wood products prices that negatively impact its building materials
distribution business segment; (3) expected weaker demand as the
rate of new housing starts decline in both the US and Canada; (4)
potential integration and financial challenges as the company
pursues growth through acquisition; and (5) low operating margins
mainly driven by its building materials distribution segment.

Doman has adequate liquidity (SGL-3) with about CAD388 million of
liquidity sources and no mandatory debt repayment through 2024.
Sources of liquidity consist of CAD40 million of cash (as of
December 2023), about CAD328 million of availability under its
CAD500 million revolving credit facility maturing in April 2028,
and Moody's expectation of positive free cash flow of about CAD20
million through 2024. Doman's covenants for the revolver require
the company to maintain a minimum EBITDA, which Moody's expects the
company to comfortably maintain. Most of the company's assets are
encumbered.

The B1 rating on the company's CAD325 million senior unsecured
notes maturing in 2026 is one notch below the Ba3 CFR, reflecting
the noteholders' subordinate position in the company's capital
structure behind the secured CAD500 million asset based revolving
credit facility expiring in 2028 (unrated).

The stable outlook reflects Moody's expectation that Doman will
maintain strong operating performance and adequate liquidity in the
next 12 to 18 months. Moody's also expects the company's financial
leverage will remain below 4x through 2025.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

The ratings could be upgraded if the company's market position
grows, adjusted debt to EBITDA is sustained below 3x, retained cash
flow to debt is sustained above 15%, and improve and maintain good
liquidity.

The ratings could be downgraded if the company's operational
performance deteriorates significantly, leverage is sustained above
4.5x, RCF/adjusted debt is sustained below 5%, or liquidity
weakens.

Headquartered in Vancouver, Doman Building Materials is a
distributor of building materials and home renovation products and
a leading producer of pressure treated wood products in North
America.

The principal methodology used in these ratings was Paper and
Forest Products published in December 2021.


DORCLAIR INVESTMENT: Taps Keery McCue as Bankruptcy Counsel
-----------------------------------------------------------
Dorclair Investment, LLC seeks approval from the U.S. Bankruptcy
Court for the District of Arizona to hire Keery McCue, PLLC as its
counsel.

The Debtor requires legal counsel to:

     (a) prepare pleadings and applications;

     (b) conduct examinations incidental to administration;

     (c) advise the Debtor of its rights, duties, and obligations
under Chapter 11 of the Bankruptcy Code;

     (d) take any and all other necessary action incident to the
proper preservation and administration of this Chapter 11 estate;
and

     (e) advise the Debtor in the formulation and presentation of a
plan pursuant to Chapter 11 of the Bankruptcy Code, the disclosure
statement and concerning any and all matters relating thereto.

The firm will charge at an hourly rate of $145 to $475 for its
services.

Patrick Keery, Esq., an attorney at Keery McCue, 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:

     Martin J. McCue, Esq.
     Patrick F. Keery, Esq.
     Keery McCue, PLLC
     6803 East Main Street, Suite 1116
     Scottsdale, AZ 85251
     Telephone: (480) 478-0709
     Facsimile: (480) 478-0787
     Email: mjm@keerymccue.com
            pfk@keerymccue.com

             About Dorclair Investment

Dorclair Investment is a Single Asset Real Estate debtor (as
defined in 11 U.S.C. Section 101(51B)). The Debtor is the owner of
a real property located at 2022 N. 22nd Avenue Phoenix, AZ
85009-3007 having an appraised value of $2.9 million.

Dorclair Investment, LLC filed its voluntary petition for relief
under Chapter 11 of the Bankrutpcy Code (Bankr. D. Ariz. Case No.
24-03387) on April 30, 2024, listing $3,021,089 in assets and
$888,070 in liabilities. The petition was signed by Claire Barrett
as owner.

Patrick F. Keery, Esq. at Keery Mccue, PLLC represents the Debtor
as counsel.


DUSOBOX CORP: Court OKs Interim Cash Collateral Access
------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida,
Orlando Division, authorized Dusobox Corporation to use cash
collateral, on an interim basis, in accordance with the budget.

Following entry of the First Interim Order, Flagstar Financial &
Leasing, LLC f/k/a Signature Financial LLC asserted a properly
perfected first priority security interest in and to the Debtor's
cash collateral that is the subject of the Motion. The Debtor is
currently in negotiations with Flagstar and First National Bank of
Winter Park regarding the use of cash collateral and provisions for
providing adequate protection to both Creditors.

The Debtor is authorized to use cash collateral to pay: (a) amounts
expressly authorized by the Court, including payments to the United
States Trustee for quarterly fees; (b) the current and necessary
expenses set forth in the budget, plus an amount not to exceed 10%
for each line item (provided no amount will be disbursed for
pre-petition sales tax, absent proper application and entry of an
order by the Court); and (c) additional amounts as may be expressly
approved in writing by the Creditors.

Each of the Creditors will have a perfected post-petition lien
against cash collateral to the same extent and with the same
validity and priority as its respective prepetition liens, without
the need to file or execute any document as may otherwise be
required under applicable non-bankruptcy law.

The Debtor will maintain all its insurances including liability and
casualty insurance coverage in accordance with state law and its
obligations under the agreements with its Creditors.

As additional protection for the Creditors' interest in the cash
collateral, the Debtor will make monthly payments in the aggregate
amount of $39,399, to be held in the Debtor's counsel's client
trust account until further Order of the Court or agreement in
writing by the Creditors, up to the effective date of any confirmed
plan of reorganization of the Debtor. The payments will be made on
such dates as agreed to by the Debtor and such Creditor that is the
recipient of such adequate protection payments.

A further hearing on the matter is set for May 22, 2024 at 11 a.m.

A copy of the order is available at https://urlcurt.com/u?l=SzRXdb
from PacerMonitor.com.

The Debtor projects total operating disbursements, on a weekly
basis, as follows:

     $351,016 for the week ending March 15, 2024;
     $585,328 for the week ending March 22, 2024;
     $321,016 for the week ending March 29, 2024; and
     $506,796 for the week ending March 29, 2024;

          About Dusobox Corporation

Dusobox Corporation is a designer, engineer and manufacturer of
custom corrugated display solutions and product packaging. It is
based in Orlando, Fla.

Dusobox filed Chapter 11 petition (Bankr. M.D. Fla. Case No.
24-00391) on Jan. 29, 2024, with $1 million to $10 million in
assets and $10 million to $50 million in liabilities.

Judge Tiffany P. Geyer oversees the case.

Michael A. Nardella, Esq., at Nardella & Nardella, PLLC is the
Debtor's legal counsel.


EAGLE ROCK: Seeks to Hire Cooper Norman as Accountant
-----------------------------------------------------
Eagle Rock Timber, Inc. seeks approval from the U.S. Bankruptcy
Court for the District of Idaho to hire Cooper Norman PLLC as its
accountant.

The firm will perform calendar year 2024 accounting, auditing and
tax services.

The firm will be paid at these rates:

     Accountant        $400 per hour
     Staff             $150 per hour

Terri Gazdik, CPA, of Cooper Norman & Co., disclosed in the Court
filing that his firm is disinterested as defined in 11 U.S.C. Sec.
101(14).

The accountant can be reached at:

      Terri Gazdik, CPA
      Cooper Norman, PLLC
      1000 Riverwalk Drive, Suite 100
      PO Box 51330
      Idaho Falls, ID 83405
      Telephone: (208) 523-0862
      Facsimile: (208) 525-8038
  
               About Eagle Rock Timber, Inc.

Eagle Rock is a Native American owned horizontal contractor capable
of tackling Tribal, State, Federal, and Private projects.

Eagle Rock Timber, Inc. filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. D. Idaho Case No.
24-40066) on February 16, 2024, listing $1 million to $10 million
in both assets and liabilities. The petition was signed by Rick
Gokey as president.

Judge Noah G. Hillen presides over the case.

Jon A. Stenquist, Esq. at PARSONS BEHLE & LATIMER represents the
Debtor as counsel.


ELIZA JENNINGS: Fitch Affirms 'BB+' IDR, Outlook Stable
-------------------------------------------------------
Fitch Ratings has affirmed Eliza Jennings Senior Care Network, OH's
(EJSCN) Issuer Default Rating (IDR) at 'BB+' and its rating on
approximately $24.7 million in series 2022A healthcare facilities
revenue refunding bonds issued by the county of Cuyahoga, Ohio on
behalf of EJSCN at 'BB+'.

The Rating Outlook is Stable.

   Entity/Debt                    Rating           Prior
   -----------                    ------           -----
Eliza Jennings
Senior Care
Network (OH)                LT IDR BB+  Affirmed   BB+

   Eliza Jennings
   Senior Care
   Network (OH)
   /General Revenues/1 LT   LT     BB+  Affirmed   BB+

The 'BB+' rating reflects EJSCN's manageable leverage profile that
is offset by a weak service area and a high exposure to skilled
nursing facility (SNF) operations, particularly those reimbursed by
Medicaid. Though EJSCN has a significant reliance on SNF revenues,
the organization generates approximately 24% of net revenues from
its independent living units (ILU), which have been able to
maintain strong occupancy over the past few years.

The rating also accounts for EJSCN's financed acquisition of The
Weils at Chagrin Falls. EJSCN issued $20 million in Direct Purchase
Health Care Facilities Revenue Bonds (not rated by Fitch) to
acquire The Weils at Chagrin Falls. The issuance increased total
debt to approximately $64.6 million and lowered cash-to-adjusted
debt to 43.1% for nine months ending March 31, 2024 from 55.8% in
FY23. The Weils, which opened in 2002, added 75 assisted living
units (ALU), 18 memory care units (MCU) and 29 SNF beds to EJSCN's
offerings. EJSCN began integrating the new campus late in 2023
including staffing efforts and unit rehabilitation. Fitch believes
once integrated, the campus should be accretive to EJSCN's
operations.

The Stable Outlook reflects Fitch's view that EJSCN maintains
sufficient liquidity and core operating profitability to be able to
manage through staffing challenges and related healthcare census
pressures. These pressures are expected ease, but remain elevated
relative to historical levels given the significant healthcare
employer competition in the Greater Cleveland area.

SECURITY

Bondholders are granted a security interest in the gross revenues
of EJSCN, a first mortgage lien on EJSCN's campuses. A fully-funded
debt service reserve fund (DSRF) provides additional security for
the series 2022A bonds.

KEY RATING DRIVERS

Revenue Defensibility - bbb

Strong ILU Occupancy; Weak/Competitive Market Affords Limited
Pricing Flexibility

EJSCN's midrange revenue defensibility assessment reflects Eliza
Jennings Inc.'s (The Renaissance) strong ILU occupancy of 94% in
fiscal 2023 and 93% through nine months of fiscal 2024. The
organization's long-standing reputation, high SNF quality scores
and supportive relationships with hospitals further support the
expectation of consistent demand for services. These positives are
balanced against a weaker market and payor mix that affords very
little price flexibility and inconsistent rate increases.

EJSCN's ILU occupancy has been strong, averaging 94% over the last
four fiscal years. ALU and SNF bed censuses were softer in fiscal
2023, but still at sufficient four-year averages of 90% and 86%,
respectively. Occupancy showed a marginal decline through nine
months ended in 2024as a result of EJSCN's purchase of The Weils
assisted living, memory care, and SNF. Fitch believes that overall
healthcare occupancy will likely remain below 90% over the near
term given continued competition for nurses in the Cleveland area
and the ramp up of The Weils under EJSCN.

The Renaissance, EJSCN's only independent living community, draws
most of its ILU residents from the Cleveland metropolitan area. The
community offers a Type-C entrance fee contract and competes mainly
with a limited number of non-profit life plan communities (LPCs)
that offer a similar range of services. Fitch believes that the
community's entrance fee contract is a major differentiating
factor, as seen in the community's ability to maintain strong
occupancy.

EJSCN's ILU monthly service fee increases have averaged 2.75% over
the past four years. EJSCN did increase ILU monthly rates by 6.25%
in fiscal 2024, and did modify SNF private pay monthly rates
between 6% and 6.25% depending on location. SNF Medicaid rate went
up as much as 12%. As a result of continued staffing and
inflationary challenges, EJSCN did make a rare entrance fee
increase of 5% in 2023 along with monthly fee increase ranging from
6.25% to 6.5% in 2023.

Operating Risk - bb

Solid Core Profitability, High SNF and Medicaid Exposure

Fitch's 'bb' assessment of EJSCN's operating risk incorporates
risks associated with a high exposure to skilled nursing operations
and Medicaid payor mix, especially at The Eliza Jennings Home (EJ
Home), the organization's founding entity, where 83% of its census
over the past four years has been Medicaid residents. The
Renaissance is a single-site Type-C LPC that provides independent
living residents 14 days free each year in the health center that
includes assisted living, memory care and skilled nursing
services.

In addition to The Renaissance, EJSCN provides assisted living and
memory support services at Devon Oaks and skilled nursing services
at EJ Home. The assessment also considers a track record of good
cost management, The Renaissance's Type-C LPC contract and the
organization's fee for service healthcare offerings. EJSCN has a
very high 24-year average age of plant and Fitch expects strategic
capital spending over the next five years to grow revenues and
shift the SNF payor mix concentration away from Medicaid.

Over the last four audited years, EJSCN has averaged a 95.9%
operating ratio, 9.6% net operating margin (NOM), and 14.6%
NOM-adjusted. Like other LPCs and healthcare providers, EJSCN's
96.5% operating ratio, 8.5% NOM, and 15.6% NOM-adjusted over the
fiscal 2024 nine-month interim period are pressured on lower
healthcare occupancy and higher contract labor utilization across
the network. Given slight easing of staffing pressures, especially
for nurses in the skilled nursing industry, and an increase in
payment rates for Medicaid patients based on quality scores at The
Renaissance and Eliza Jennings campuses, EJSCN's core operating
profitability will likely remain stable in fiscal 2024.

Increase Medicaid reimbursement is expected to generate an
additional $1.2 million in revenues, however is subject to annual
renewal by the state. Fitch believes EJSCN's profitability remains
sufficient for a midrange assessment of operating cost flexibility
given the historical profitability metrics, expectation for gradual
occupancy improvement as staffing challenges ease and revenues are
supported by the recent increase in Medicaid rates.

EJSCN began filling, a newly constructed assisted living facility
at The Renaissance in November 2022. The project was viewed
favorably as the facility created efficiencies by consolidating
existing assisted living and memory care offerings and provide for
a more marketable product that is expected to drive higher private
pay rates. Fitch expects EJSCN to pursue additional opportunities
for growth and margin expansion over time, including a potential
ILU project at The Renaissance (where there are 40+ acres that can
be utilized).

EJSCN's capital-related metrics are favorable as MADS represented
5.6% of annualized fiscal 2024 nine-month revenues and debt to net
available was 3.8x as of March 31, 2024. Revenue only coverage of
MADS has been solid as well, averaging 1.8x over the last four
audited years, indicating a limited reliance on net entrance fee
receipts to cover debt service.

EJSCN has historically generated over 40% of its net resident
service revenue from SNF operations. Of this amount, an average of
29% of SNF net revenues derived from Medicaid over the past four
fiscal years. Fitch views the high exposure to SNF operations and
Medicaid as an asymmetric additional risk consideration as Medicaid
programs provide the lowest reimbursement rates among all payors
for SNF services. Furthermore, SNF demand/revenues are highly
dependent on external factors including hospital referrals and
local aging and SNF utilization trends, which are a major risk in
the midst of an industry-wide movement to refer more discharges to
home.

Financial Profile - bb

Financial Profile Consistent with Rating Through Moderate Stress

EJSCN has light liquidity and a relatively modest leverage profile,
with Fitch calculated days cash on hand of 217 days and
cash-to-adjusted debt of 43.1% at March 31, 2024. Given EJSCN's
'bbb' revenue defensibility and 'bb' operating risk assessments,
along with Fitch's forward-looking scenario analysis, EJSCN is
expected to maintain key leverage metrics that are in line with the
'BB+' rating through a moderate stress.

Fitch's baseline scenario - a reasonable forward look of financial
performance over the next five years given current economic
expectations - shows EJSCN gradually improving operating and
financial metrics as healthcare census grows, staffing challenges
continue to ease, higher rates and efficiencies are realized at The
Renaissance's new assisted living facility. Capex is expected to be
around depreciation to fund routine needs. However, due to
uncertainty around management's plans for strategic growth, there
is an expectation of some dilution of the balance sheet in the
future, which is considered into the current 'BB+' rating.

As part of the forward look, Fitch assumes an economic stress (to
reflect financial market volatility) that is specific to EJSCN's
asset allocation. As a result of the stress and equity contribution
for The Weils purchase, EJSCN's cash-to-adjusted debt moves up from
a low of 46% and debt service coverage recovers to be at or above
2x by year three of the stress scenario, which supports with the
current rating level.

RATING SENSITIVITIES

Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade

- A decline in unrestricted liquidity and/or a new money debt
issuance, such that cash-to-adjusted debt falls below 30% and is
not expected to improve;

- Weaker operating performance, such that revenue-only MADS
coverage is expected to be consistently under 1.5x.

Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade

- Fitch views the potential for positive movement for the rating as
limited given the heavy reliance on SNF operations, EJSCN's
Medicaid SNF payor mix concentration, the organization's light
liquidity and the expectation of strategic capital spending over
the next five years that will affect sustained balance sheet
improvements;

- Longer term, good cash flow leading to growth in unrestricted
liquidity, such that cash-to-adjusted debt is expected to stabilize
at or above 100%;

- Improved SNF payor mix where Medicaid consistently accounts for
less than 25% of skilled nursing net revenues.

PROFILE

EJSCN is a nonprofit parent company of three healthcare-related
entities: EJ Home, The Renaissance, Devon Oaks Assisted Living
Corporation (Devon Oaks), The Weils at Chagrin Falls. EJ Home is
located in Cleveland, OH and consists of 126 SNF beds. The
Renaissance is located in Olmsted Township, OH (approximately 20
miles southwest of Cleveland) and consists of 176 ILUs, 30 ALU, 18
MCU and 90 SNF beds. Devon Oaks is located in Westlake, OH
(approximately 20 miles west of Cleveland) and consists of 54 ALUs
and 12 MCUs. The Weils is located in Chagrin Falls, OH
(approximately 25 miles east of Cleveland) and consists of 75 ALUs,
18 MCUs and 29 SNFs,

EJSCN had total operating revenues of $37.1 million in fiscal 2023
(FYE June 30).

Sources of Information

In addition to the sources of information identified in Fitch's
applicable criteria specified below, this action was informed by
information from Lumesis.

ESG CONSIDERATIONS

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.


EMCORE CORP: Sells Chips Business, Wafer Fabrication for $2.92M
---------------------------------------------------------------
EMCORE Corporation announced the consummation effective April 30,
2024 of a transaction for the sale of its Chips business and indium
phosphide (InP) wafer fabrication operations for a total purchase
price of $2.92 million, together with the assumption by the buyer,
HieFo Corporation, of certain assumed liabilities, of which $1
million was previously received from HieFo, and $1.92 million was
paid by HieFo to EMCORE at the closing of the transaction.

The transaction was consummated pursuant to the terms of an Asset
Purchase Agreement entered into between EMCORE and HieFo on
April 30, 2024 and included the transfer of substantially all
assets related to EMCORE's non-core discontinued Chips business
line, including the assets used in the Company's InP wafer
fabrication operations in Alhambra, California, including without
limitation equipment, contracts, intellectual property and
inventory.  HieFo will initially sublease one full building and a
portion of another building, and ultimately two full buildings, at
its Alhambra site and be liable for a pro rata portion of the rent
for such buildings beginning July 1, 2024.

Jeffrey Rittichier, EMCORE's president and CEO stated, "We are very
pleased to announce the execution of a transaction to transfer
substantially all assets related to our Chips business and InP
wafer fab operations."  Rittichier continued "This sale provides
immediate cash and a positive financial outcome for us with respect
to these assets."

HieFo will be led by former EMCORE VP, Engineering, Dr. Genzao
Zhang, following this management buy-out (MBO) transaction.  Dr.
Zhang, CEO of HieFo, remarked, "By leveraging more than four
decades of innovative legacy in optoelectronic devices from EMCORE,
we will continue the pursuit of most innovative and disruptive
solutions to serve telecom, datacom, and AI connectivity
industries.  With the experienced core team and strong financial
backing, we will be resuming the operations very rapidly.  HieFo
has successfully engaged nearly all key scientists, engineers, and
operation personnel of EMCORE's discontinued Chips business and
will continue its operation at the current EMCORE Alhambra
campus."

                          About Emcore

EMCORE Corporation -- https://www.emcore.com -- is a provider of
sensors and navigation systems for the aerospace and defense
market.  Over the last five years, the Company has expanded its
scale and portfolio of inertial sensor products through the
acquisitions of Systron Donner Inertial, Inc. ("SDI") in June 2019,
the Space and Navigation business of L3Harris Technologies, Inc.
("S&N") in April 2022, and the FOG and Inertial Navigation Systems
business of KVH Industries, Inc. in August 2022.  The Company's
multi-year transition from a broadband company to an inertial
navigation company has now been completed following the sale of its
cable TV, wireless, sensing and defense optoelectronics business
lines and the shutdown of its chips business line and indium
phosphide wafer fabrication operations.

Irvine, California-based KPMG LLP, the Company's auditor since
2010, issued a "going concern" qualification in its report dated
Dec. 27, 2023, citing that the Company has suffered recurring
losses from operations that raise substantial doubt about its
ability to continue as a going concern.

Emcore said in its Quarterly Report for the year ended Dec. 31,
2023, that "We are evaluating the sufficiency of our existing
balances of cash and cash equivalents, cash flows from operations,
and amounts expected to be available under our Credit Agreement,
together with additional actions we could take including further
expense reductions and/or potentially raising capital through
additional debt or equity issuances, or from the potential
monetization of certain assets.  However, we may not be successful
in executing on our plans to manage our liquidity, including
recognizing the expected benefits from our previously announced
restructuring program, or raising additional funds if we elect to
do so, and as a result substantial doubt about our ability to
continue as a going concern exists."


EMERALD TECHNOLOGIES: BlackRock DLC Marks $196,619 Loan at 15% Off
------------------------------------------------------------------
BlackRock Direct Lending Corp has marked its $196,619 loan extended
to Emerald Technologies (U.S.) AcquisitionCo, Inc to market at
$166,786 or 85% of the outstanding amount, as of March 31, 2024,
according to a disclosure contained in BlackRock DLC's Form 10-Q
for the quarterly period ended March 31, 2024, filed with the U.S.
Securities and Exchange Commission.

BlackRock DLC is a participant in a Senior Secured Revolver to
Emerald Technologies. The loan accrues interest at a rate of 13.5%
(SOFR (M) + 6.1%, 1% Floor) per annum. The loan matures on December
29, 2026.

BlackRock DLC is a Delaware corporation formed on October 12, 2020
as an externally managed, closed-end, non-diversified management
investment company. The Company elected to be regulated as a
business development company under the Investment Company Act of
1940, as amended. The Company invests primarily in middle-market
companies headquartered in North America. The Company commenced
operations on November 30, 2020. BlackRock DLC's fiscal year ends
December 31.

Emerald Technologies AcquisitionCo., Inc. -- Emerald EMS --
headquartered in Salem, New Hampshire, is a tier-3 EMS provider of
high mix, low volume (HMLV) design, prototyping, assembly, and
lifecycle support services (supply chain management, order
fulfilment, and reverse logistics) for original equipment
manufacturer (OEM) customers in "non-traditional" end markets
including semiconductor equipment, industrial controls, A&D,
utility infrastructure, and medical. Emerald specializes in
high-complexity electronic assemblies, specifically printed circuit
boards (PCBA) and box builds/systems integrations, for
customer-specific products with significant design variations.



EMX ROYALTY: Appoints Two New Members to Board of Directors
-----------------------------------------------------------
EMX Royalty Corporation announced the appointment of Mr. Dawson
Brisco and Mr. Chris Wright as independent directors to the Board
effective immediately.

Mr. Brisco is a Professional Geologist with 20 years of mining
industry and business development experience in a variety of roles
in the bulk commodity, metals and energy sectors.  Mr. Brisco is
currently the president and CEO of Morien Resources Corp., a
Canadian mining royalty company specialized in bulk commodities, a
position he has held since 2018.  Prior to joining Morien, Mr.
Brisco held numerous senior business development and technical
roles including senior manager of an exploration alliance with
Xstrata in Asia from 2005 to 2010.  Mr. Brisco is an independent
Director of the Mining Association of Nova Scotia and holds an
Honours Bachelor of Science degree in Geology from Saint Mary's
University in Halifax, Nova Scotia.

Mr. Wright serves as chief executive officer and Chairman of the
Board of Liberty Energy.  Mr. Wright is a dedicated humanitarian
with a passion for bringing the benefits of energy to every
community in the world.  This passion has inspired a career in
energy working not only in oil and gas but nuclear, solar, and
geothermal.  Mr. Wright embraces all sources of energy if they are
abundant, affordable, and reliable.

Mr. Wright completed an undergraduate degree in Mechanical
Engineering at MIT and graduate work in Electrical Engineering at
both UC Berkeley and MIT.  Mr. Wright founded Pinnacle Technologies
and served as CEO from 1992 to 2006.  Pinnacle created the
hydraulic fracture mapping industry and its innovations helped
launch commercial shale gas production in the late 1990s.  Mr.
Wright was Chairman of Stroud Energy, an early shale gas producer,
before its sale to Range Resources in 2006.  Additionally, Mr.
Wright founded and served as Executive Chairman of Liberty
Resources and Liberty Midstream Solutions until its sale in 2024.
He also sits on the Board of Directors for Urban Solutions Group,
and the Federal Reserve Bank, Denver Branch.  In addition to his
role at Liberty Energy, Mr. Wright serves on the board of numerous
organizations and nonprofits, including a founding board member of
the Bettering Human Lives Foundation.

                            About EMX

EMX -- www.EMXroyalty.com -- is a precious, and base metals royalty
company.  EMX's investors are provided with discovery, development,
and commodity price optionality, while limiting exposure to risks
inherent to operating companies.  The Company's common shares are
listed on the NYSE American Exchange and TSX Venture Exchange under
the symbol "EMX".

Vancouver, Canada-based Davidson & Company LLP, the Company's
auditor since 2002, issued a "going concern" qualification in its
report dated March 21, 2024, citing that the Company has a working
capital deficiency that raises substantial doubt about its ability
to continue as a going concern.


ENCO PROPERTIES: Seeks to Hire ELP Real Estate as Realtor
---------------------------------------------------------
Enco Properties, LLC seeks approval from the U.S. Bankruptcy Court
for the Western District of Texas to employ ELP Real Estate Group,
LLC, d/b/a REPcre as realtor.

The firm will market and sell the Debtor's properties:

      a. 716 West Yandell Drive, El Paso, Texas 79902, and
  
      b. 415 West Yandell Drive, El Paso, Texas 79902.

The firm's compensation is to be a 3 percent commission of the sale
price.

Sergio Tinajero, founding partner at REPcre, 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:

     Sergio Tinajero
     ELP Real Estate Group, LLC, d/b/a REPcre
     6006 N. Mesa St. Ste. 110
     El Paso, TX 79912
     Phone: (915) 422-2242
     E-Mail: sergio@repcre.com

         About Enco Properties, LLC

ENCO Properties, LLC is primarily engaged in renting and leasing
real estate properties.

ENCO Properties, LLC filed its volutary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Case No.
23-31399) on Dec 29, 2023, listing $1 million to $10 million in
both assets and liabilities. The petition was signed by Nora I.
Herrera as manager.

James Jopling, Esq. at JIM JOPLING, ATTORNEY AT LAW represents the
Debtor as counsel.


ENSERVCO INC: Appoints Marc Kramer as Director
----------------------------------------------
Enservco Corporation announced changes to its Board of Directors
and provided a corporate update.  Marc Kramer was appointed to the
Company's Board of Directors on April 30, 2024 upon the
recommendation of the Company's Board of Directors.  He fills the
position vacated by Mr. Steve Weyel who resigned effective April
29, 2024 to focus his attention on a new business venture.

Mr. Kramer is a transportation industry investor and operator with
over 30 years of investment experience.  For the past seven years,
he has served as executive chairman of SOAR Transportation Group,
of which he is a majority owner, a provider of asset based and
non-asset transportation and logistics services serving shippers
throughout the United States.  Mr. Kramer's previous experience
includes founding AVC Partners, which focused on investing and
growing businesses in the transportation and logistics industry,
and serving as managing director for both H.I.G. Capital and Fenway
Partners LLC.  Mr. Kramer sits on a variety of private boards which
focus on logistics and investment sectors of the transportation
industry.  He holds a bachelor's degree in government and economics
from Dartmouth College and a master's of business administration
from Harvard University.

Rich Murphy, Chairman and CEO of Enservco, commented, "We welcome
Marc to our Board.  As we make the strategic shift into the
logistics and transportation business, having someone of Marc's
experience and connections within the industry as a member of our
Board is invaluable.  We appreciate the service of Mr. Weyel to our
Company and wish him the best in his new venture."

The Company continues to explore strategic initiatives to reduce
reliance upon the seasonal frac heating business.  The Buckshot
Acquisition will provide Enservco with a proven and growing
foundation in an attractive year-round logistics business.

Rich continued, "We appreciate the ongoing support of our
stockholders.  There are several important proposals to be voted
on, including approval of issuance of shares in relation to the
Buckshot Acquisition, as well as approval of our five directors who
will – as in the past – serve one-year terms.  "We look forward
to closing the Buckshot Acquisition in the near term, with
stockholder approval at our annual meeting, a key step in the
process.  The addition of Buckshot to our existing business will
prove transformational for Enservco as we transition away from a
seasonal business that is subject to commodity risk, to a logistics
business that generates strong year-round cash flow.  The
transition will not require substantial new overhead or capital.
We are continuing our evaluation of strategic alternatives designed
to further reduce our seasonal focus, with the underlying premise
that any opportunities must be immediately accretive, generate
solid cash flow, and provide visible near and long-term growth."

                         About Enservco

Enservco Corporation, through its wholly owned subsidiary, provides
various services to the domestic onshore oil and natural gas
industry.  These services include hot oiling and acidizing and frac
water heating.  The Company owns and operates a fleet of
specialized trucks, trailers, frac tanks and other well-site
related equipment and serve customers in several major domestic oil
and gas producing areas, including the Denver-Julesburg
Basin/Niobrara area in Colorado and Wyoming, the San Juan Basin in
northwestern New Mexico, the Marcellus and Utica Shale areas in
Pennsylvania and Ohio, the Jonah area, Green River and Powder River
Basins in Wyoming, and the Eagle Ford Shale and East Texas Oilfield
in Texas.

Houston, Texas-based Pannell Kerr Forster of Texas, P.C., the
Company's auditor since 2022, issued a "going concern"
qualification in its report March 29, 2024, citing that the Company
has a significant working capital deficiency, has recurring 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.


ENVERIC BIOSCIENCES: Signs Deals to Issue 458,000 Common Shares
---------------------------------------------------------------
Enveric Biosciences, Inc., disclosed in a Form 8-K filed with the
Securities and Exchange Commission that on May 3, 2024, it entered
into a series of common stock purchase agreements for the issuance
in a registered direct offering of an aggregate of 458,000 shares
of the Company's common stock, par value $0.01 per share, to
certain institutional investors.  The issuance was made in exchange
for the permanent and irrevocable waiver of the variable rate
transaction limitation with respect to any existing or future
agreement by the Company to effect any issuance of shares and issue
such shares thereunder, as contained in those certain Inducement
Offer Letters, dated Dec. 28, 2023, between the Company and those
certain institutional investors.  The offering was conducted at a
deemed offering price of $0.94 per share.

The Purchase Agreements contain customary representations and
warranties and certain indemnification obligations of the Company.
The Purchase Agreements also restrict the Company from issuing,
entering into any agreement to issue, or announcing the issuance of
the Company's common stock from the date of the Purchase Agreements
until the earlier of 30 days after entering into the agreements or
at such time as 15,000,000 shares of the Company's common stock
have traded in the open market.  The closing of the issuance of the
Shares pursuant to the Purchase Agreements was expected to occur on
May 6, 2024.

The Company will not receive any net proceeds in connection with
the offering.  This offering is being made to obtain a waiver of
the variable rate transaction limitation as described above and
further described in the Purchase Agreements so the Company can
utilize its existing equity line of credit, which has been
previously registered, and enter into any future agreements that
involve a variable rate transaction and issue such shares
thereunder.

This offering was made pursuant to the Company's shelf registration
statement on Form S-3, which was filed with the U.S. Securities and
Exchange Commission on July 2, 2021 and became effective on July 9,
2021 (File No. 333-257690), and a prospectus supplement and
accompanying prospectus filed with the SEC.

                          About Enveric

Enveric Biosciences, Inc. is a biotechnology company dedicated to
the development of novel neuroplastogenic small-molecule
therapeutics for the treatment of depression, anxiety, and
addiction disorders.  Leveraging its unique discovery and
development platform, The Psybrary, the Company has created a
robust intellectual property portfolio of new chemical entities for
specific mental health indications.  The Company's lead program,
the EVM201 Series, comprises next generation synthetic prodrugs of
the active metabolite, psilocin.  The Company is developing the
first product from the EVM201 Series – EB-002 – for the
treatment of psychiatric disorders.  It is also advancing its
second program, the EVM301 Series – EB 003 – expected to offer
a first-in-class, new approach to the treatment of
difficult-to-address mental health disorders, mediated by the
promotion of neuroplasticity without also inducing hallucinations
in the patient.

East Hanover, New Jersey-based Marcum LLP, the Company's auditor
since 2021, issued a "going concern" qualification in its report
dated March 25, 2024, citing that the Company has incurred
significant losses and needs to raise additional funds to meet its
obligations and sustain its operations.  These conditions raise
substantial doubt about the Company's ability to continue as a
going concern.


ENVIVA INC: Fitch Assigns 'B-' Rating on $500MM DIP Facility
------------------------------------------------------------
Fitch Ratings has assigned a 'B-' issue rating to Enviva Inc.'s
$500 million delayed-draw debtor-in-possession (DIP) facility.

The 'B-' rating is supported by key structural protections,
including a super-priority administrative claim and document
protections. Additionally, protections include a $30 million
minimum liquidity covenant and bankruptcy process milestones. The
facility also benefits from pockets of unencumbered collateral that
are pledged in favor of DIP creditors on a first-lien basis.

The 'B-' rating is limited by the low degree of
overcollateralization of the fully utilized facility. Although the
facility enjoys first-priority liens on assets not pledged in favor
of prepetition secured debt holders, Fitch does not believe such
assets provide a material collateral cushion in excess of the size
of the facility.

Regarding assets pledged to prepetition secured creditors, the
facility has a second-lien, and thus ranks behind approximately
$720 million of prepetition debt.

Under Fitch's criteria, DIP instrument ratings are point-in-time.
Accordingly, this issue rating will be withdrawn within one
business day of publication.

KEY RATING DRIVERS

Collateral Value to DIP Loan: The overcollateralization of the DIP
facility is the most important rating driver and carries
significant weight in the issue rating. Although the facility
benefits from an all-asset pledge, most of the value is pledged to
the DIP creditors on a second-lien basis, behind approximately $720
million in senior-ranking debt. Pockets of previously unencumbered
value that are pledged to DIP creditors on a first-lien basis do
not, by themselves, support material overcollateralization.

Fitch uses the estimated total EV in assessing the degree of
overcollateralization. Fitch estimates the EV is approximately
$1.43 billion. Assuming $720 million of senior ranking debt, the
$1.43 billion valuation yields an overcollateralization ratio of
about 1.4x for the $500 million facility.

Facility Structural Attributes: Structural features of the DIP
agreement are another key rating driver. The facility benefits from
strong structural features including a super-priority
administrative claim. The DIP credit agreement contains milestones
relating to the plan process and a $30 million minimum liquidity
covenant. Subsidiary debtors provide guarantees.

However, the majority of collateral value in favor of the DIP
creditors is subject to senior ranking prepetition liens with DIP
creditors holding a second-priority lien on the majority of
Enviva's assets. Although there are pools of assets that were not
pledged to prepetition lenders and have since been pledged to DIP
creditors on a first-lien basis, those assets do not provide a
material collateral cushion in excess of the size of the facility.

Post-Petition Liquidity and Cash Flow: Although the $500 million
facility is "new money", post-petition liquidity projections remain
negative throughout the bankruptcy forecast period. The company
will rely on the proceeds of the DIP facility to finance their
bankruptcy process. Uncertainty regarding Enviva's post-petition
liquidity profile constrains the rating. However, the new money
commitment indicates a continuing ability to raise debt funding and
high lender confidence of a successful outcome.

Prospects and Restructuring Scope: Enviva is the world's largest
supplier of utility-grade wood pellets to major power generators by
production capacity. Its emergence as a going-concern is highly
likely. Enviva filed with two Restructuring Support Agreements
(RSAs) supported by holders of 95% of the company's 2026 bonds, as
well as lenders holding 72% of outstanding first-lien debt, thus
mitigating the risk of inter-creditor litigation that could derail
the bankruptcy.

DERIVATION SUMMARY

Not applicable.

KEY ASSUMPTIONS

- Plan confirmation prior to year-end 2024.

- No material changes to management strategy or operations during
the bankruptcy period;

- Epes plant enters service in 2025;

- Ongoing contract negotiations leads to increased margins.

RECOVERY ANALYSIS

- Enviva's DIP facility is secured by an all-asset pledge though
junior to approximately $720 million of existing first-lien debt.
Although there are some pools of assets which were left
unencumbered prior to filing and have since been pledged on a
first-lien basis to the DIP creditors, such assets are difficult to
value and unlikely provide more than $500 million of collateral
value.

Fitch uses the estimated total EV in assessing the degree of
overcollateralization. Fitch estimates the EV at $1.43 billion,
yielding an overcollateralization ratio of 1.4x. The assumptions
underlying the $1.43 billion are as follows:

Fitch's assumptions result in a go-forward going concern EBITDA of
$260 million. Underlying this assumption is an expectation that
Enviva will continue to successfully renegotiate a certain amount
of existing customer contracts to provide for improved margins, as
well as an expectation of the new 1.1 MTPY Epes plant entering
service in 2025.

Fitch assumes a certain measure of incremental EBITDA from
successful contract renegotiations. The going concern EBITDA also
reflects the discontinuation of roughly $61 million in
restructuring expenses in 2025 relative to 2024, and additional
EBITDA related to commercial commencement of the Epes plant in
2025.

Fitch assumes a restructuring multiple of 5.5x EBITDA under this
scenario, in line with historical transaction multiples of 5x-6x
for the energy and utilities sector. The multiple reflects Enviva's
market leading position as the world's largest producer of wood
pellets and its associated deep-water shipping terminals, offset by
a largely simple business model.

RATING SENSITIVITIES

Not applicable.

LIQUIDITY AND DEBT STRUCTURE

Not applicable.

ISSUER PROFILE

Enviva Inc. is the world's largest supplier of utility-grade wood
pellets to major power generators by production capacity. The
company procures wood fiber and processes it into utility-grade
wood pellets, which are then transported to their customers
overseas through vessels.

   Entity/Debt             Rating           
   -----------             ------           
Enviva Inc.

   senior secured       LT B-  New Rating


EP GLOBAL: S&P Upgrades ICR to 'B' on Strengthened Credit Profile
-----------------------------------------------------------------
S&P Global Ratings upgraded all its ratings on EP Global Production
Solutions LLC (Entertainment Partners), including its issuer credit
ratings to 'B' and its issue-level ratings to 'B+'; S&P removed the
ratings from CreditWatch, where it placed them with negative
implications on Sept. 11, 2023.

The stable outlook reflects S&P's expectation for improved
performance and cash flows.

S&P said, "The strike resolution and rebounds in entertainment
production activity contribute to organic revenue growth. We
forecast the uptick in entertainment activity will result in gross
billings returning to their pre-strike levels, and then exceeding
it in the next two years. The company has won new contracts and
expanded in different geographies, which we believe will contribute
to revenue growth of 85% in the next year. While lags in production
remain present, we think the industry will normalize in the second
half of the year. We expect content spending will moderate in the
next few years as the streaming services trim their budgets
following a period of elevated production spending. Still, revenue
prospects remain solid as demand for content leads to studios
prioritizing higher profile and fewer productions.

"We expect earnings and cash flows will improve with better
operating leverage. We forecast S&P Global Ratings-adjusted EBITDA
margin in the mid-30% in the next year due to industry resurgence.
Despite some cost savings initiatives, the strikes severely
impacted earnings and resulted in negative cash flow in 2023.
Entertainment Partners retained its labor force during the strike
which temporarily hurt margins, but we believe the company will
ramp up faster and integrate contract wins more efficiently. This
will contribute to positive cash flow, which will result in free
operating cash flow (FOCF) to debt in the high-single-digit percent
in the next two years. However, working capital can be volatile and
large outflows may threaten cash flow. In this instance, we expect
the company would draw on the revolving credit facility to support
temporary shortfalls.

"An aggressive financial policy and sponsor ownership constrains
the rating. Leverage has remained elevated due to earnings
contraction, but we forecast it will trend lower (though still
above 6x) in the next year. We believe deleveraging will likely be
temporary despite positive cash flow generation because the company
has an aggressive financial policy that has focused on acquisitions
and business expansion internationally."

A strike by the 'below-the-line workers' could negatively impact
industry recovery. The industry faces a potential strike from more
than 170,000 film and television workers in the International
Alliance of Theatrical Stage Employees (IATSE) and other
below-the-line labor unions. The Alliance of Motion Picture and
Television Producers (AMPTP) is in negotiations with the unions,
but if negotiations fail and a strike ensues, S&P expect more
production halts, which will stress credit metrics.

S&P said, "The stable outlook reflects our expectation for good
revenue growth and continued margin improvement on the back of the
entertainment industry wage growth. We forecast Entertainment
Partners' leverage will be about 6.5x at year-end 2024."

S&P could consider taking a negative rating action on Entertainment
Partners if it demonstrates a weaker-than-expected operating
performance that leads to leverage above 7x and FOCF to debt below
5%. This would most likely be if:

-- A strike results in delayed and cancelled productions that
hinder industry recovery and result in poor demand for its
services;

-- Major media contract losses weaken its competitive advantage
and market share; or

-- It makes large debt-financed dividend payments or
acquisitions.

S&P said, "We could consider an upgrade if the company established
a track record of strong operating performance and conservative
financial policy, and we expect S&P Global Ratings-adjusted
leverage will decline below 5x on a sustained basis.

"Social factors are a negative consideration in our analysis of
Entertainment Partners. This reflects the mission-critical
importance of its human resources and payroll services to its
clients and their employees. In addition, there are high inherent
risks and adverse consequences (reputational damage, legal or
regulatory fines, or operational disruptions) if it fails to
protect sensitive information or its critical infrastructure and
applications.

"Governance is a moderately negative consideration in our analysis,
as it is for most rated entities owned by private-equity sponsors.
We believe the company's highly leveraged financial risk profile
points to corporate decision-making that prioritizes the interests
of its controlling owners. This also reflects private-equity
sponsors' generally finite holding periods and focus on maximizing
shareholder returns."



ETHEMA HEALTH: Reports $1 Million Net Income in 2023
----------------------------------------------------
Ethema Health Corporation filed with the Securities and Exchange
Commission its Annual Report on Form 10-K reporting net income of
$1.01 million on $5.34 million of revenues for the year ended Dec.
31, 2023, compared to net income of $295,188 on $4.82 million of
revenues for the year ended Dec. 31, 2022.

As of Dec. 31, 2023, the Company had $11.52 million in total
assets, $17.72 million in total liabilities, and a total
stockholders' deficit of $6.20 million.

New York, NY-based RBSM LLP, the Company's auditor since 2023,
issued a "going concern" qualification in its report dated May 7,
2024, citing that the Company has suffered recurring losses from
operations, generated negative cash flows from operating
activities, has an accumulated deficit and has stated that
substantial doubt exists about Company's ability to continue as a
going concern.

A full-text copy of the Form 10-K is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/792935/000190359624000279/grst_10k.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.


EVOFEM BIOSCIENCES: Terminates, Reinstates Aditxt Merger Agreement
------------------------------------------------------------------
Evofem Biosciences, Inc., disclosed in a Form 8-K filed with the
Securities and Exchange Commission that on April 26, 2024, the
Company delivered a termination notice to Aditxt, Inc. notifying it
that the Company was exercising its right to terminate the Merger
Agreement effective April 26, 2024, in accordance with Section
8.1(f) of the Merger Agreement, as revised in the third amendment
to the Merger Agreement, made on Feb. 29, 2024.

On Dec. 11, 2023 the Company, Aditxt, and Adifem, Inc., f/k/a
Adicure, Inc., a wholly-owned subsidiary of Aditxt (the "Merger
Sub"), entered into an Agreement and Plan of Merger, whereby the
Adifem, Inc. was intended to merge with and into the Company with
the Company being the surviving company and wholly-owned subsidiary
of Aditxt.

           Reinstatement and Amendment of Merger Agreement

On May 2, 2024, the Company, the Merger Sub and Aditxt entered into
the Reinstatement and Fourth Amendment to the Merger Agreement in
order to waive and amend, among other things, the several
provisions listed below.

Amendments to Article VI: Covenants and Agreement

Article VI of the Merger Agreement is amended to:

  i. reinstate the Merger Agreement, as amended by the Fourth
     Amendment, as if never terminated;

ii. reflect Aditxt's payment to the Company, in the amount of
     $1,000,000, via wire initiated by May 2, 2024;

iii. delete Section 6.3, which effectively eliminates the "no
shop"
     provision, and the several defined terms used therein;

iv. add a new defined term "Company Change of Recommendation;" and

v. revise section 6.10 of the Merger Agreement such that, after
the
    Initial Payment, and upon the closing of each subsequent
capital
    raise by Aditxt, Aditxt shall purchase that number of shares of

    the Company's Series F-1 Preferred Stock, par value $0.0001 per

    share, equal to 40% of the gross proceeds of such Parent
    Subsequent Capital Raise divided by 1,000, up to a maximum
    aggregate amount of $2,500,000 or 2,500 shares of Series F-1
    Preferred Stock. A maximum of $1,500,000 shall be raised prior

    to June 17, 2024 and $1,000,000 prior to July 1, 2024.

Amendments to Article VIII: Termination

Article VIII of the Merger Agreement is amended to:

i. extend the date after which either party may terminate from May

    8, 2024 to July 15, 2024;

ii. revise Section 8.1(d) in its entirety to allow Company to
    terminate at any time after there has been a Company Change of

    Recommendation, provided that Aditxt must receive ten day
    written notice and have the opportunity to negotiate a
competing
    offer in good faith; and

iii. amend and restate Section 8.1(f) in its entirety, granting the

    Company the right to terminate the agreement if (a) the full
    $1,000,000 Initial Payment required by the Fourth Amendment has

    not been paid in full by May 3, 2024 (b) $1,500,000 of the
    Parent Capital Raise Amount has not been paid to the Company by

    June 17, 2024, (c) $1,000,000 of the Parent Capital Raise
Amount
    has not been paid to the Company by July 1, 2024, or (d) Aditxt

    does not pay any portion of the Parent Equity Investment within

    five calendar days after each closing of a Parent Subsequent
    Capital Raise.

                            About Evofem

Evofem Biosciences, Inc. is a San Diego-based commercial-stage
biopharmaceutical company with a strong focus on innovation in
women's sexual and reproductive health.  The Company's first
commercial product, Phexxi, was approved by the FDA on May 22,
2020. Phexxi is the first and only FDA-approved, hormone-free
prescription contraceptive vaginal gel.  It comes in a pre-filled
applicator and is applied within one hour before intercourse,
empowering women with a convenient, discreet, and flexible
contraception method that puts control in their hands.  The Company
commercially launched Phexxi in September 2020 in the US and since
then have reported increased net product sales for each successive
year.  The Company intends to commercialize Phexxi in all other
global markets through partnerships or licensing agreements.

Walnut Creek, California-based BPM, LLP, the Company's auditor
since 2023, issued a "going concern" qualification in its report
dated March 26, 2024, citing that the Company has suffered
recurring losses from operations, negative cash flows from
operations since inception, has received a notice of default for
its convertible notes, and does not have sufficient capital to
repay such obligations, which are now currently due and has a net
capital deficiency that raise substantial doubt about its ability
to continue as a going concern.



EYECARE PARTNERS: S&P Lowers First-Lien Term Loans Rating to 'D'
----------------------------------------------------------------
S&P Global Ratings lowered its issue-level rating on Missouri-based
eye care service provider EyeCare Partners LLC's first-lien term
loans due to 'D' (default) from 'CC' and removed the ratings from
CreditWatch with negative implications, where S&P placed them on
April 24,2024. Its issue-level rating on the company's second-lien
term loan remains 'D'.

At the same time, S&P affirmed our 'SD' (selective default)
long-term issuer credit rating on EyeCare.

S&P intends to reassess our issuer credit rating on EyeCare in the
coming weeks once S&P has further information on operating
prospects for the company.

The downgrade follows the company's announcement that it closed a
public debt exchange with holders of a majority of its existing
first- and second-lien term loans. S&P said, "After the completion
of the public exchange, we confirmed that all of the first-lien
term loans were included in the exchange. We lowered our
issue-level rating on the first lien to 'D.' We also removed our
issue-level rating on the first-lien term loan from CreditWatch
with negative implications."

S&P said, "We consider this transaction to be a distressed exchange
because of its cash to paid-in-kind interest conversion, less than
par exchange, extended maturities, and lower priority given the
addition of new, superpriority term loans. Each of these factors
lead us to view the transaction as distressed because the debt
investors did not receive the originally promised principal amount
nor adequate compensation for changes to the terms.

"We plan to reevaluate the issuer credit rating in the coming weeks
based on our conventional assessment of default risk. Our review
will focus on the long-term viability of the company's capital
structure and liquidity position against the backdrop of its recent
operating trends."



FELTRIM BALMORAL: Seeks to Tap Radius Realty Group as Broker
------------------------------------------------------------
Feltrim Balmoral Estates, LLC and its affiliates filed an amended
application seeking approval from the U.S. Bankruptcy Court for the
Middle District of Florida to employ Radius Realty Group as real
estate broker.

Radius Realty will market, advertise and attempt to find a buyer
for the Debtor's property located at 201 Kenny Boulevard in Haines
City, Florida.

The broker would be paid a commission of 7 percent of the gross
sales price.

As disclosed in the court filing, Radius Realty Group is
disinterested as defined in 11 U.S.C. Sec. 101(14).

The firm can be reached through:

     Aramis M. Rodriguez
     Radius Realty Group
     711 North Orlando Avenue, Suite 302
     Maitland, FL 32751
     Phone: (919) 446-8555

            About Feltrim Balmoral Estates

Feltrim Balmoral Estates, LLC owns a clubhouse located at 124 Kenny
Blvd., Haines City, Fla. having a fair value of $3 million.

Feltrim Balmoral Estates and its affiliates filed their voluntary
petitions for relief under Chapter 11 of the Bankruptcy Code
(Bankr. M.D. Fla. Case No. 24-02122) on April 17, 2024. The case is
jointly administered in Case No. 24-02122. In the petitions signed
by Garrett Kenny, owner and manager, Feltrim Balmoral Estates
disclosed $4,657,697 in assets and $16,239,519 in liabilities; The
Enclave At Balmoral, LLC disclosed $5,091,844 in assets and
$10,565,256 in liabilities; and Balmoral Estates, LP listed
$14,327,306 in assets and $25,909,466 in liabilities.

Judge Catherine Peek McEwen oversees the case.

Alberto F. Gomez Jr., Esq., at Johnson Pope Bokor Ruppel & Burns
LLP represents the Debtor as counsel.


FGV FRESNO: Seeks to Hire Ross Wolcott Teinert as Special Counsel
-----------------------------------------------------------------
FGV Fresno, LP seeks approval from the U.S. Bankruptcy Court for
the Central District of California to employ Ross, Wolcott, Teinert
& Prout LLP as its special litigation counsel.

The firm will represent the Debtor with respect to Claim No.
5021211085-1 against Farmers Insurance under policy number
0606791296.

The firm will render these services:

     a. prosecute the Debtor and the bankruptcy estate's claims
against Farmers Insurance;

     b. perform any and all other legal services incident and
necessary with respect to the Farmers Insurance Claim as the Debtor
may require.

The firm will be paid at these discounted hourly rates:

     Partners       $495
     Associates     $375
     Paralegals     $250

The firm has received a post-petition retainer in the amount of
$5,000.

Andrew Prout, a partner at Ross Wolcott, 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:

     Andrew Prout, Esq.
     Ross, Wolcott, Teinert & Prout LLP
     3151 Airway Ave Building S
     Costa Mesa, CA 92626
     Phone: (714) 444-3900

         About FGV Fresno

FGV Fresno LP, a limited partnership in Irvine, Calif., is
primarily engaged in renting and leasing real estate properties.

FGV Fresno filed its voluntary petition for Chapter 11 protection
(Bankr. C.D. Calif. Case No. 23-10170) on Jan. 31, 2023, with $10
million to $50 million in assets and $1 million to $10 million in
liabilities. Judge Scott C. Clarkson oversees the case.

The Debtor tapped Robert P Goe, Esq., at Goe Forsythe & Hodges, LLP
as legal counsel.


FIVE STAR: S&P Downgrades ICR to 'B-' on Lower Earnings
-------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Five Star
Intermediate Holding LLC to 'B-' from 'B'.

S&P said, "At the same time, we lowered our issue-level rating on
the company's $100 million revolving credit facility (RCF) due 2027
and $630 million first-lien term loan due 2029 to 'B-' from 'B'.
The '3' recovery rating on the debt is unchanged, reflecting
meaningful (50%-70%; rounded estimate: 65%) recovery in default. In
addition, we lowered our issue-level rating on Five Star's $250
million second-lien term loan due 2030 to 'CCC' from 'CCC+'. The
'6' recovery rating is unchanged, reflecting negligible (0%-10%;
rounded estimate: 0%) recovery in default.

"The stable outlook reflects our expectations for volume recovery
as the year progresses that, along with cost-saving initiatives,
should improve S&P Global Ratings-adjusted EBITDA margins, such
that adjusted debt leverage improves to 7.5x-8.0x in 2024. We also
expect a reduction in S&P Global Ratings-adjusted free operating
cash flow (FOCF) as working capital becomes a slight use of cash,
and the interest burden remains elevated.

"The downgrade reflects the increase in Five Star's leverage and
our expectation that it will remain high over the next 18 months.
Five Star's S&P Global Ratings-adjusted leverage increased to about
9.0x in 2023 from about 7.5x in 2022 because of
larger-than-expected declines in volumes and EBITDA year over year.
Customer inventory destocking continued to affect beverage sales in
the fourth quarter of 2023. In addition, the slow unwinding of
elevated inventory dragged into the fourth quarter, resulting in
gross margins contracting sequentially.

"We project customer destocking will continue to dampen beverage
sales in the first half of 2024, slightly offset by solid demand
for dry pet food products, resulting in low-single-digit percentage
growth in 2024. We expect EBITDA margins will expand over the next
12 months as the company's gross margins benefit from Five Star
completely unwinding its high-cost inventory in fourth-quarter
2023. In addition, Five Star's cost-saving initiatives should
reduce selling, general, and administrative costs as a percentage
of revenues, further improving EBITDA margins. Low-single-digit
percentage growth, gross margin expansion, and a reduction of
operating expenses from cost-saving initiatives should spur EBITDA
growth in 2024 and 2025.

"We don't expect the company to make large debt-funded acquisitions
this year or next and believe debt levels will remain relatively
neutral, with only $6.3 million of annual amortization. We forecast
S&P Global Ratings-adjusted leverage will be 7.5x-8.0x in 2024,
improving to 6.5x-7.0x in 2025.

"The stable outlook reflects our expectations that Five Star will
maintain positive FOCF and reduce its leverage to the 7.0x-7.5x
range over the next 12 months from a combination of improved
operating margins and solid demand for laminated woven sacks (LWS)
products, alongside slow recovery in its beverage products in
2024."

Downside scenario

S&P said, "We could lower our ratings on Five Star if we view the
company's capital structure as unsustainable. This could occur if
prolonged decline in operating performance constrains its liquidity
position such that the company generates negative reported FOCF on
a sustained basis and EBITDA interest coverage remains below 1.5x
on a sustained basis."

Upside scenario

S&P said, "We could raise our ratings on Five Star if it reduces
its debt leverage below 6.5x on a sustained basis while generating
consistent, positive FOCF. In conjunction with any improvement in
its credit metrics, we would expect Five Star and its sponsor to
maintain financial policies that support a higher rating after
incorporating leveraging events, such as shareholder rewards or
acquisitions.

"Governance is a moderately negative consideration, as is the case
for most rated entities owned by private-equity sponsors. We
believe Five Star's highly leveraged financial risk profile points
to corporate decision-making that prioritizes the interests of the
controlling owners. This also reflects the generally finite holding
periods and a focus on maximizing shareholder returns. We view
environmental factors as neutral. However, we believe there are
long-term risks of new regulations and substitutions that could
impact Five Star's plastic solutions, but this is offset by the
company's reduced exposure to single-use plastic bags
(approximately 15% of revenues) and focus on expanding its
sustainable plastic solutions, which currently include 100%
recyclable polyethylene films; in-house produced PCR and PIR for
use in its bags, sacks, and pouches; and biodegradable films."



FTX TRADING: Eversheds & Morris Update Ad Hoc Committee Members
---------------------------------------------------------------
Eversheds Sutherland (US) LLP and Morris, Nichols, Arsht & Tunnell
LLP, counsel to the Ad Hoc Committee of Non-US Customers of FTX.com
(the "Ad Hoc Committee") comprising international customers, filed
a verified seventh supplemental statement pursuant to Rule 2019 of
the Federal Rules of Bankruptcy Procedure in the Chapter 11 cases
of FTX Trading Ltd. and affiliates.

Pursuant to Bankruptcy Rule 2019(d), this Seventh Supplemental
Statement supplements the information provided in the Sixth
Supplemental Statement. Since the date of the Sixth Supplemental
Statement, certain changes have been made with respect to the
composition of the Ad Hoc Committee and the disclosable economic
interests that the Members represent.

The revised names, addresses, and disclosable economic interests of
the Members are:

1. 168 Trading Limited
   5-9 Main Street Gibraltar GX11 1AA
   * $2,500,000.00

2. Adam Rabie
   * $150,950.00

3. Altana Digital Assets Fund
   190 Elgin Avenue
   George Town, Grand Cayman,
   KY1-9008 Cayman Islands
   * $1,039,066.36

4. Azamat Akylov
   * $11,373,198.56

5. B2C Alternative Equity Ltd
   C/O Corporation Service Company
   251 Little Falls Drive, Wilmington, DE 19808
    * $85,000,000.00

6. Blooming Triumph International Limited
   13F 162 Queens Road Central, Hong Kong
   * $35,860,157.00

7. Blue Basin Ventures LLC
   3172 N Rainbow Blvd #26642, Las Vegas, NV 89108
   * $1,243,523.00

8. Boway Holdings, LLC; Oaktree Opportunities Fund XI
   Holdings (Cayman) LP; Opps CY Holdings, LLC; Oaktree
   Value Opportunities Fund Holdings, L.P.; Oaktree
   Phoenix Investment Fund, L.P.
   1301 6th Ave, 34th Floor, NY, NY 10019
   * $354,809,100.00

9. Canyon Capital Advisors LLC, on behalf of its
   managed funds and accounts
   2728 N. Harwood Street, 2nd Floor,
   Dallas, TX 75201
     * $324,010,604.91

10. Ceratosaurus Investors, LLC
    One Maritime Plaza, Suite 2100,
    San Francisco, CA 94111
    * $509,149,570.00

11. Chien-Chih Chen
    * $200,000.00

12. Crimson International Investment
    c/o Al-Hamad Legal Group
    4812 Addax Tower, Al Reem
    Island, Abu Dhabi UAE
    * $6,091,963.14

13. Daniel Gupta
    * $420,000.00

14. Decent Investments Malta Limited
    Quad Central, Q3, Level 9, Triq LEsportaturi,
    Zone 1, Central Business District, Birkirkara CBD
    1040, Malta
    * $4,231,241.93

15. Diameter Capital Partners LP
    55 Hudson Yards, Suite 29B,
    New York, NY 10001
    * $207,462,138.26

16. Dietmar Poppe
    * $281,807.90

17. Dmitry Kozlov
    * $252,185.00

18. dParadigm Fund SPC
    DE Cayman Ltd, Landmark Sqaure,
    Westbay Road, PO Box 775, Grand Cayman KY1-9
    * $575,599.93

19. Falcon Hybrid SPC - RE7 Liquidity Fund SP
    3-212 Governors Square 23 Lime Tree Bay Ave
    PO Box 30746 SMB Grand Cayman KY1-1203
    Cayman Islands
    * $1,269,016.63

20. FC Cayman A, L.L.C.
    c/o Maples Corporate Services Limited
    PO Box 309 Ugland House Grand Cayman, KY1-1104
    Cayman Islands
    * $518,308,980.22

21. Fire Bouvardia, L.L.C.
    190 Elgin Avenue, George Town
    Cayman DY1-9008
    * $212,137,818.00

22. Fingolfin GmbH
    c/o 3T.LAW
    FAO Dr. Henning Frase
    Oberlaender Ufer 154a
    Koeln, Germany 50968
    * $5,700,000.00

23. Flow Ventures Fund L.P.
    5-9 Main Street, GX11 1AA
    * $3,917,877.00

24. Grzegorz Swiatek
    * $540,260.00

25. Hudson Bay Master Fund Ltd.
    28 Havemeyer Place, 2nd Floor,
    Greenwich, CT 06830
    * $192,000,000

26. Iris Partners
    Iris Partners Corp. Suites 5 & 6
    Horsfords Business Centre Long Point Road
    Charlestown St Kitts & Nevis
    * $804,000.00

27. Ismael Lemhadri
    * $150,000.00

28. Jamie Farquhar
    * $1,987,327.00

29. James Goodenough
    * $5,670.00

30. Jian Chen
    * $1,200,000.00

31. John Ruskin
    * $350,000.00

32. Jonathon Hughes
    * $22,063.00

33. Kbit Global Limited
    Craigmuir Chambers #71 Road Town
    Tortola VG1110 British Virgin Islands
    * $25,021,826.00

34. Kirk Steele
    * $2,500,000.00

35. Koalalgo Research
    CO SERVICES CAYMAN LIMITED
    P. O. Box 10008 Willow House
    Cricket Square Grand Cayman KY1-1001
    Cayman Islands
    * $3,700,000.00

36. Lemma Technologies Inc.
    Via Espana, Delta Bank Building,
    6th Floor, Suite 604D, Panama City
    PA-8 Panama
    * $165,000,000.00

37. Marc-Antoine Julliard
    * $140,000.00

38. Marc St. John Wolff Amey
    * $637,000.00

39. Michael Anderson
    * $1,600,000.00

40. Michael Currie
    * $40,000.00

41. Mohammad Alsabah
    * $275,000.00

42. MVPQ Capital Limited
    Kensington Pavilion, 96 Kensington
    High St., London
   * $902,266.00

43. Nestcoin Holding Limited
    Trinity Chambers, PO Box 4301,
    Road Town, Tortola, British Virgin Island
    * $3,900,000.00

44. Nexxus Holdings Operations LLC
    800 Miramonte Drive, Suite 380
    Santa Barbara CA 93109
    * $114,586,113.00

45. NKB Finance Ltd.
    Griva Digeni 13, 6030 Larnaca, Cyprus
    * $216.52

46. Olympus Peak Trade Claims Opportunities Fund I Non-
    ECI MasterLP
    177 West Putnam Ave Suite 2622- S1 Greenwich, CT 06831
    * $20,028,055.00

47. Orange Phoenix LLC
    c/o The Corporation Trust Center
    1209 Orange Street, Wilmington DE 19801
    * $4,695,822.68

48. Owen Ellis
    * $957,000.00

49. Patrick Martin
    * $500,000.00

50. Patrick Wohlschlegel
    * $57,973.85

51. Phoenix Digital
    c/o The Corporation Trust Center
    1209 Orange Street, Wilmington DE 19801
    * $12,169,928.00

52. Podtree Ltd.
    26, Kanachrine Place,Ullapool, Highland, Scotland
    * $19,581.26

53. PRIMO Holding GmbH
    Urbanstrasse 4, D-70839 Gerlingen, Germany
    * $853,674.48

54. Raul Jain
    * $42,000.00

55. Robert Himmelbauer
    * $107,013.57

56. Rodney Clough
    * $504,000.00

57. Safe Eagle Holding Limited
    Mandar House, 3rd Floor P.O. Box
    2196, Johnson's Ghut Tortola, British Virgin Islands
    * $3,200,000.00

58. Samuel Mandel
    * $59,600.00

59. Sheval Alijevski
    * $146,000.00

60. Sidar Sahin
    * $50,974,281.00

61. Silver Point Capital, LP
    2 Greenwich Plaza, Greenwich, CT 06830
    * $270,488,930.00

62. Svalbard Holdings Limited
    c/o Attestor Limited, 7 Seymour Street, W1H 7JW London
    * $674,631,122.00

63. Tellurian Exoalpha Digital Assets Systematic Fund
    89 Nexus Way, Camana Bay Grand
    Cayman, Cayman Islands KY1-
    * $1,062,047.90

64. Vicomte Holding LLC as manager of Arceau 507 II LLC,
    Arceau 507
    LLC, Arceau X LLC, Oroboros FTX I LLC
    4 Lakeside Drive, Chobham Lakes,
    GU24 8BD, Surrey, UK
    * $29,077,752.28

65. William Johanna Petrus
    Christina Arts
    * $64,802.00

66. Wireless Mouse LLC
    1509 Bent Ave. Cheyenne, WY 82001
    * $6,978,628.21

67. Yu Ting
    * $64,434.00

                        About FTX Group

FTX is the world's second-largest cryptocurrency firm.  FTX is a
cryptocurrency exchange built by traders, for traders.  FTX offers
innovative products including industry-first derivatives, options,
volatility products and leveraged tokens.

Then CEO and co-founder Sam Bankman-Fried said Nov. 10, 2022, that
FTX paused customer withdrawals after it was hit with roughly $5
billion worth of withdrawal requests.

Faced with liquidity issues, FTX on Nov. 9 struck a deal to sell
itself to its giant rival Binance, but Binance walked away from the
deal amid reports on FTX regarding mishandled customer funds and
alleged US agency investigations.

At 4:30 a.m. on Nov. 11, Bankman-Fried ultimately agreed to step
aside, and restructuring vet John J. Ray III was quickly named new
CEO.

FTX Trading Ltd (d/b/a FTX.com), West Realm Shires Services Inc.
(d/b/a FTX US), Alameda Research Ltd. and certain affiliated
companies then commenced Chapter 11 proceedings (Bankr. D. Del.
Lead Case No. 22-11068) on an emergency basis on Nov. 11, 2022.
Additional entities sought Chapter 11 protection on Nov. 14, 2022.

FTX Trading and its affiliates each listed $10 billion to $50
million in assets and liabilities, making FTX the biggest
bankruptcy filer in the US this year.  According to Reuters, SBF
shared a document with investors on Nov. 10 showing FTX had $13.86
billion in liabilities and $14.6 billion in assets.  However, only
$900 million of those assets were liquid, leading to the cash
crunch that ended with the company filing for bankruptcy.

The Hon. John T. Dorsey is the case judge.

The Debtors tapped Sullivan & Cromwell, LLP as bankruptcy counsel;
Landis Rath & Cobb, LLP as local counsel; and Alvarez & Marsal
North America, LLC as financial advisor. Kroll is the claims agent,
maintaining the page https://cases.ra.kroll.com/FTX/Home Index

The Official Committee of Unsecured Creditors tapped Paul Hastings
as counsel, FTI Consulting, Inc., as financial advisor, and
Jefferies LLC as the investment banker.  Young Conaway Stargatt &
Taylor LLP is the Committee's Delaware and conflicts counsel.

Montgomery McCracken Walker & Rhoads LLP, led by partners Gregory
T. Donilon, Edward L. Schnitzer, and David M. Banker, is
representing Sam Bankman-Fried in the Chapter 11 cases.  White
collar crime specialist Mark S. Cohen has reportedly been hired to
represent SBF in litigation.  Lawyers at Paul Weiss previously
represented SBF but later renounced representing the entrepreneur
due to a conflict of interest.


GAUCHO GROUP: Back in Compliance With Nasdaq Listing Requirement
----------------------------------------------------------------
Gaucho Group Holdings, Inc. disclosed in a Form 8-K filed with the
Securities and Exchange Commission that on May 1, 2024, it received
a notice from the Listing Qualifications Department of the Nasdaq
Stock Market notifying the Company that, due to the Company's
filing of its Annual Report on Form 10-K for the fiscal year ended
Dec. 31, 2023 with the SEC on April 30, 2024, the Company is now
back in compliance with Nasdaq's continued listing requirements
under Nasdaq Listing Rule 5250(c)(1), which requires the timely
filing of all required periodic reports with the SEC.

                         About Gaucho Group

For more than ten years, Gaucho Group Holdings, Inc.'s
(gauchoholdings.com) mission has been to source and develop
opportunities in Argentina's undervalued luxury real estate and
consumer marketplace.  Headquartered in New York, NY, the Company
has positioned itself to take advantage of the continued and fast
growth of global e-commerce across multiple market sectors, with
the goal of becoming a leader in diversified luxury goods and
experiences in sought after lifestyle industries and retail
landscapes.  With a concentration on fine wines
(algodonfinewines.com & algodonwines.com.ar), hospitality
(algodonhotels.com), and luxury real estate
(algodonwineestates.com) associated with its proprietary Algodon
brand, as well as the leather goods, ready-to-wear and accessories
of the fashion brand Gaucho – Buenos Aires (gaucho.com), these
are the luxury brands in which Argentina finds its contemporary
expression.

New York, NY-based Marcum LLP, the Company's auditor since 2013,
issued a "going concern" qualification in its report dated April
29, 2024, citing that the Company has a significant working capital
deficiency, has incurred significant losses and needs to raise
additional funds to meet its obligations and sustain its
operations. These conditions raise substantial doubt about the
Company’s ability to continue as a going concern.


GAUCHO GROUP: Incurs $16.2 Million Net Loss in 2023
---------------------------------------------------
Gaucho Group Holdings, Inc., filed with the Securities and Exchange
Commission its Annual Report on Form 10-K reporting a net loss of
$16.20 million on $2.15 million of sales for the year ended Dec.
31, 2023, compared to a net loss of $21.83 million on $1.64 million
of sales for the year ended Dec. 31, 2022.

As of Dec. 31, 2023, the Company had $16.56 million in total
assets, $10.86 million in total liabilities, and $5.70 million in
total stockholders' equity.

New York, NY-based Marcum LLP, the Company's auditor since 2013,
issued a "going concern" qualification in its report dated April
29, 2024, citing that the Company has a significant working capital
deficiency, has incurred significant losses and needs to raise
additional funds to meet its obligations and sustain its
operations. These conditions raise substantial doubt about the
Company's ability to continue as a going concern.

Gaucho Group said, "Historically, we have been successful in
raising funds to support our capital needs.  We believe we have
access to additional capital resources and continue to evaluate
additional financing opportunities.  However, if we are unable to
obtain additional financing on a timely basis, we may have to delay
vendor payments and/or initiate cost reductions, which would have a
material adverse effect on our business, financial condition and
results of operations, and ultimately, we could be forced to
discontinue our operations, liquidate assets and/or seek
reorganization under the U.S. bankruptcy code."

A full-text copy of the Form 10-K is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001559998/000149315224017110/form10-k.htm

                       About Gaucho Group

Headquartered in New York, NY, Gaucho Group Holdings, Inc. was
incorporated on April 5, 1999.  Effective Oct. 1, 2018, the Company
changed its name from Algodon Wines & Luxury Development, Inc. to
Algodon Group, Inc., and effective March 11, 2019, the Company
changed its name from Algodon Group, Inc. to Gaucho Group Holdings,
Inc.  Through its wholly-owned subsidiaries, GGH invests in,
develops and operates real estate projects in Argentina.  GGH
operates a hotel, golf and tennis resort, vineyard and producing
winery in addition to developing residential lots located near the
resort.  In 2016, GGH formed a new subsidiary, Gaucho Group, Inc.
and in 2018, established an e-commerce platform for the manufacture
and sale of high-end fashion and accessories.  In February 2022,
the Company acquired 100% of Hollywood Burger Argentina, S.R.L.,
now Gaucho Development S.R.L, through InvestProperty Group, LLC and
Algodon Wine Estates S.R.L., which is an Argentine real estate
holding company. In addition to GD, the activities in Argentina are
conducted through its operating entities: InvestProperty Group,
LLC, Algodon Global Properties, LLC, The Algodon - Recoleta S.R.L,
Algodon Properties II S.R.L., and Algodon Wine Estates S.R.L.
Algodon distributes its wines in Europe under the name Algodon
Wines (Europe). On June 14, 2021, the Company formed a wholly-owned
Delaware limited liability company subsidiary, Gaucho Ventures I
– Las Vegas, LLC, for purposes of holding the Company's interest
in LVH Holdings LLC.


GIRAFFE ENTERTAINMENT: Seeks to Hire Bond Law Office as Attorney
----------------------------------------------------------------
Giraffe Entertainment, Inc. seeks approval from the U.S. Bankruptcy
Court for the Western District of Arkansas to hire Bond Law Office
to hire Bond Law Office as attorney to handle its Chapter 11 case.

The firm will be paid at these rates:

      Stanley Bond         $350 per hour
      Paraprofessional     $100 per hour

The firm received from the Debtor a retainer in the amount of
$7,262, plus filing fee of $1,738.

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Stanley Bond, Esq., a partner at Bond Law Office, 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:

     Stanley Bond, Esq.
     BOND LAW OFFICE
     PO Box 1893
     Fayetteville, AR 72702-1893
     Telephone: (479) 444-0255
     Facsimile: (479) 235-2827
     E-mail: attybond@me.com

            About Giraffe Entertainment, Inc.

Giraffe Entertainment, Inc. owns and operates 810 Billiards &
Bowling, which features 16 bowling lanes, billiard tables, a sports
simulator, axe throwing lanes, and an arcade.

Giraffe Entertainment, Inc. filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Ark. Case No.
24-70714) on April 30, 2024, listing $344,845 in assets and
$2,369,810 in liabilities. The petition was signed by Erik Covitz
as managing member.

Judge Bianca M. Rucker presides over the case.

Stanley V. Bond, Esq. at BOND LAW OFFICE represents the Debtor as
counsel.


GOOD GAMING: Appoints Hilzendager as New CFO After Fontana Resigns
------------------------------------------------------------------
Good Gaming, Inc. disclosed in a Form 8-K filed with the Securities
and Exchange Commission that on April 19, 2024, the Board of
Directors of the Company accepted the resignation of Chief
Financial Officer and Principal Accounting Officer Mr. Domenic
Fontana.  According to the Company, Mr. Fontana's resignation was
not the result of any dispute or disagreement with the Company or
the Company's Board of Directors on any matter relating to the
operations, policies, or practices of the Company.  The Company
thanks Mr. Fontana for his service to the Company.

Simultaneously, on April 19, 2024, John D. "JD" Hilzendager, was
appointed as chief financial officer of the Company.  Mr.
Hilzendager in his role as chief financial officer will report to
David Dorwart, the Company's chief executive officer.  Mr.
Hilzendager will be designated as the Company's principal
accounting officer.

Subsequently, on April 24, 2024, the Board accepted the resignation
of Mr. Fontana from his role as a member of the Board.  Mr.
Fontana's resignation was not the result of any dispute or
disagreement with the Company or the Company's Board of Directors
on any matter relating to the operations, policies, or practices of
the Company.  At this same time, the Board of Directors appointed
Mr. Hilzendager as an additional member of the Board of Directors.

Prior to joining the Company, Mr. Hilzendager was a highly
accomplished financial professional with over 14 years of
experience driving operational excellence and financial
accountability.  Prior to joining ViaOne Services in 2015, Mr.
Hilzendager honed his analytical and problem-solving skills in a
fast-paced wireless industry environment.  At ViaOne, JD leveraged
his extensive background to spearhead significant improvements in
accounting processes, ensuring accuracy, efficiency, and compliance
across sales, operations, logistics, and reporting functions.
Recognized for his exceptional contributions, JD is a recipient of
the prestigious AT&T Summit Award (2015) and a 3-time Verizon
Wireless Winner's Circle honoree.  JD is a graduate of UNT and
enjoys volunteering for Habitat for Humanity in Dallas.

The terms of Mr. Hilzendager's employment will be covered under the
Second Amendment to the Amended Employee Services Agreement Dated
Jan. 14, 2022, with ViaOne Services, LLC.

                           About Good Gaming

Incorporated in 2008 and headquartered in Kennett Square, PA, Good
Gaming, Inc. -- www.good-gaming.com -- aims to become a leading
tournament gaming provider and an online destination for over 250
million esports players worldwide looking to compete at the high
school or college level.  Operating as a developmental stage
business with limited revenues and a history of operating losses,
Good Gaming established the Good Gaming platform in early 2014 to
address the need for a structured organization for amateur gamers.

Houston, Texas-based Victor Mokuolu, CPA PLLC, the Company's
auditor since 2022, issued a "going concern" qualification in its
report dated March 29, 2024, citing that the Company has suffered
recurring operating losses, had a working capital deficit of
$122,427, and accumulated deficit of $10,611,838 as of Dec. 31,
2023.  These factors raise substantial doubt about the Company's
ability to continue as a going concern.


GREENIDGE GENERATION: Agrees With CSO to Terminate Employment
-------------------------------------------------------------
Greenidge Generation Holdings Inc. disclosed in a Form 8-K filed
with the Securities and Exchange Commission that on April 26, 2024,
the Company and Scott MacKenzie, its chief strategy officer,
entered into a release agreement.  The Release Agreement provides
for Mr. MacKenzie's termination as the Company's chief strategy
officer, effective April 26, 2024, which was not a result of any
disagreement with the Company on any matter related to the
operations, policies, or practices of the Company.  The
responsibilities associated with the position of chief strategy
Officer are being absorbed by other members of the Company's
management team.  The Release Agreement contains a customary
general release of claims by Mr. MacKenzie against the Company and
provides for the acceleration of vesting of Mr. MacKenzie's
remaining unvested options to purchase 81,602 shares of the
Company's Class A common stock.

                    About Greenidge Generation

Greenidge Generation Holdings Inc. (NASDAQ: GREE) is a vertically
integrated power generation company, focusing on cryptocurrency
mining, infrastructure development, engineering, procurement,
construction management, operations and maintenance of sites.  The
Company owns cryptocurrency datacenter operations in the Town of
Torrey, New York and owned and operated a facility in Spartanburg,
South Carolina.

Houston, Texas-based MaloneBailey, LLP, the Company's auditor since
2023, issued a "going concern" qualification in its report dated
April 9, 2024, citing that the Company has suffered recurring
losses from operations and generated negative cash flows from
operations that raises substantial doubt about its ability to
continue as a going concern.


GREENIDGE GENERATION: Releases Q1 Financial & Operating Results
---------------------------------------------------------------
Greenidge Generation Holdings Inc. announced preliminary financial
and operating results for the first quarter of 2024.  The Company
also highlighted CEO Jordan Kovler's presentation at the Planet
MicroCap Showcase: Vegas 2024 that took place on May 1, 2024, at
4:00 pm PST.  Greenidge will be filing an updated investor
presentation in conjunction with the event.

Preliminary First Quarter 2024 Financial Results:

  * Revenue of approximately $19.2 million;

  * Net loss from continuing operations of approximately $3.1
    million to $4.1 million;

  * Adjusted EBITDA of approximately $2.1 to approximately $3.1
    million;

  * Loss per share of $0.33 to $0.43;

  * Cryptocurrency datacenter self-mining revenue of $7.1 million;

    Cryptocurrency datacenter hosting revenue of $9.1 million; and

  * Power and capacity revenue of $3.0 million.

First Quarter 2024 Highlights:

Greenidge's cryptocurrency datacenter operations produced
approximately 409 bitcoin during the first quarter of 2024, of
which 275 bitcoin were produced for colocation and 134 bitcoin were
produced for self-mining.  The average opening price of Bitcoin
during the first quarter of 2024 was $53,260.04.

As of March 31, 2024, Greenidge datacenter operations consisted of
approximately 29,400 miners with approximately 3.0 EH/s of combined
capacity for both datacenter hosting and cryptocurrency mining, of
which 18,700 miners, or 1.8 EH/s, is associated with datacenter
hosting and 10,700 miners, or 1.2 EH/s, is associated with
Greenidge's cryptocurrency mining.

Greenidge ended the quarter with approximately $14.3 million of
cash and approximately $69.0 million of debt.

Greenidge CEO Jordan Kovler commented: "It is an exciting time for
Greenidge, with two consecutive quarters of positive cash flow, a
valuable and growing real estate portfolio of sites suited for data
center development and a significant reduction in SG&A spend going
forward.  We will continue to find properties with the potential
for power expansion and will follow our new roadmap for the best
utilization of each, in order to benefit the short- and long- term
interests of all stockholders.  We believe now is the time to focus
on execution and to capitalize on the strengths of our team in
energy and infrastructure development."

The preliminary financial information presented in this press
release is based on Greenidge's current expectations and may be
adjusted as a result of, among other things, completion of
customary quarterly audit procedures.

                       About Greenidge Generation

Greenidge Generation Holdings Inc. (NASDAQ: GREE) is a vertically
integrated power generation company, focusing on cryptocurrency
mining, infrastructure development, engineering, procurement,
construction management, operations and maintenance of sites.  The
Company owns cryptocurrency datacenter operations in the Town of
Torrey, New York and owned and operated a facility in Spartanburg,
South Carolina.

Houston, Texas-based MaloneBailey, LLP, the Company's auditor since
2023, issued a "going concern" qualification in its report dated
April 9, 2024, citing that the Company has suffered recurring
losses from operations and generated negative cash flows from
operations that raises substantial doubt about its ability to
continue as a going concern.


GREENWAVE TECHNOLOGY: Amends Senior Secured Conv. Promissory Note
-----------------------------------------------------------------
Greenwave Technology Solutions, Inc., disclosed in a Form 8-K filed
with the Securities and Exchange Commission that on May 3, 2024,
the Company and the Investors entered into an Amendment to Senior
Secured Convertible Promissory Note, pursuant to which the Senior
Notes were amended to, among other things, amend (i) the conversion
price of the Senior Notes to $0.05, subject to adjustment under
certain circumstances described in the Senior Notes and (ii)
certain of the conversion price adjustment mechanisms.

On July 31, 2023, Greenwave Technology entered into a Purchase
Agreement with certain institutional investors as purchasers.
Pursuant to the Purchase Agreement, the Company sold, and the
Investors purchased, approximately $15,000,000, which consisted of
approximately $13,968,750 in cash and $1,031,250 of existing debt
of the Company which was exchanged for the notes and warrants
issued in this offering in principal amount of senior secured
convertible notes and warrants.  The transaction closed on Aug. 1,
2023.

                         About Greenwave

Headquartered in Chesapeake, VA, Greenwave Technology Solutions,
Inc. --
https://www.greenwavetechnologysolutions.com/ -- is a technology
platform developer under the name MassRoots, Inc.  In October 2021,
the Company changed its corporate name from "MassRoots, Inc." to
"Greenwave Technology Solutions, Inc."  Upon the acquisition of
Empire Services, Inc. in 2021, the Company transitioned into the
scrap metal industry which involves collecting, classifying and
processing appliances, construction material, end-of-life vehicles,
boats, and industrial machinery.

New York, NY-based RBSM LLP, the Company's auditor since 2017,
issued a "going concern" qualification in its report dated April
16, 2024, citing that the Company has net loss, has generated
negative cash flows from operating activities, has an accumulated
deficit and has stated that substantial doubt exists about the
Company's ability to continue as a going concern.



GRESHAM WORLDWIDE: Investor Declares Default
--------------------------------------------
Gresham Worldwide, Inc. disclosed in a Form 8-K Report filed with
the U.S. Securities and Exchange Commission that on April 26, 2024,
the Company received a Notice of Event of Default in reference to
the Senior Secured Convertible Note in the principal amount of
$2,000,000 dated October 11, 2023, issued by the Company to an
accredited investor. The Company did not identify the investor.

The Notice alleged the following events of default have occurred
and are continuing under the Senior Note: (i) failure of the
Company to satisfy the minimum quarterly working capital increase
covenant set forth in Section 13(r) of the Senior Note for the
fiscal quarter ended December 31, 2023, (ii) failure of the Company
to repay in full the indebtedness under the Senior Note on the
Maturity Date, (iii) the occurrence of an event of default under
the Other Notes, and (iv) the failure of the Company to notify the
Investor of the occurrence of the events of default within one
business day from such event as required pursuant to Section 4(b)
of the Senior Note.

As a result of the events of default, (i) the Investor is expressly
reserving his its right to exercise all available rights and
remedies pursuant to the Senior Note, each of the Transaction
Documents (as referenced in the Senior Note), or otherwise at law
or in equity without any further notices to the Company with
respect to the events of default or the exercise by the Investor of
available rights or remedies in respect thereof, (ii) interest is
currently accruing on the outstanding principal of the note at the
default rate of 18%, (iii) the Company is obligated to make
principal reduction payments in accordance with Section 2(b) of the
Senior Note, in an amount equal to 20% of the Company's
consolidated monthly revenues, and (iv) late charges have commenced
to accrue on all amounts not paid as and when due pursuant to the
Senior Note.

In addition, on April 26, 2024, the Company received a second
Notice in reference to a Subordination Agreement dated January 6,
2023, by and among the Company, Ault Alliance, Inc. and two
accredited investors. The Notice served to notify that events of
default have occurred and are continuing under the Senior Notes.

                     About Gresham Worldwide

Gresham Worldwide, Inc., formerly Giga-tronics, Incorporated,
designs, manufactures and distributes purpose-built electronics
equipment, automated test solutions, power electronics, supply and
distribution solutions, as well as radio, microwave and millimeter
wave communication systems and components for a variety of
applications with a focus on the global defense industry and the
healthcare market.

As of Dec. 31, 2023, the Company had $31.93 million in total
assets, $35 million in total liabilities, and a total stockholders'
deficit of $3.07 million.

New York-based Marcum LLP, the Company's auditor since 2021, issued
a "going concern" qualification in its report dated April 15, 2024,
citing that the Company has a significant working capital
deficiency, has incurred significant losses and needs to raise
additional funds to meet its obligations and sustain its
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.



GROSVENOR CAPITAL: Moody's Rates New $400MM 1st Lien Loans 'Ba2'
----------------------------------------------------------------
Moody's Ratings assigns a Ba2 rating to Grosvenor Capital
Management Holdings, LLLP's ("Grosvenor") proposed amended and
extended $400 million senior secured first lien term loan credit
facilities consisting of a $438 million term loan due 2030 and $50
million revolving credit facility due 2028 (undrawn). Moody's
expects the revolver to be undrawn upon close with proceeds from
the first lien term loan issuance to be used to repay the first
lien term loan due February 2028 and for general corporate
purposes. All other ratings under parent company GCM Grosvenor Inc.
are unaffected including the Ba2 corporate family rating and Ba2-PD
probability of default rating. The outlook remains positive. Upon
close of the transaction, Moody's expects to withdraw the Ba2
rating on the company's existing first lien term loan.

Moody's considers the transaction as credit neutral because the
negative impact from the modest increase in total debt is offset by
extension of the company's debt maturities and the positive trends
in the company's operating performance. The company is extending
the maturity of its term loan by two years to 2030 and increasing
the size of the loan by $50 million. The company's revolving credit
facility due February 2026 was also extended by two years to
February 2028.

RATINGS RATIONALE

Grosvenor Capital Management Holdings, LLLP's Ba2 rating reflects
the firm's strong growth in fee-paying and contracted not-yet fee
paying AUM, improved performance of the absolute return strategies
business segment and the stabilization of the firm's overall
effective fee rate. The rating is supported by the firm's
organizational stability and the steady progress Grosvenor has made
in diversifying its business as evidenced by the launch of its
Insurance Solutions business, further expansion internationally and
within private market investments. Grosvenor's rating remains
constrained by its modest revenue scale, high (albeit improving)
financial leverage, its predominantly institutional client base and
lower than industry average pre-tax income margins.

The positive outlook reflects improvement trends in Grosvenor's
credit metrics driven by organic AUM growth, increasing AUM mix
diversification and lower financial leverage.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

The factors that could lead to an upgrade of Grosvenor's rating
include: 1) Annualized organic AUM growth of 2% or higher; 2)
Improvement in AUM mix diversification; 3) Pre-tax income margins
above 30%; 4) Leverage (Debt/EBITDA) sustained below 3.5x (as
measured by Moody's).

Conversely, Grosvenor's ratings could be downgraded if: 1) AUM
replacement rate below 85%; 2) Leverage (Debt/EBITDA) sustained
above 5.0x; 3) Pre-tax income margins below 15%; 4) Loss of brand
name/reputation due to tainted investments or firm behavior.

Headquartered in Chicago, IL, Grosvenor Capital Management
Holdings, LLLP is a global alternative asset manager and one of the
largest and oldest players in the solutions provider industry. As
of March 31, 2024, Grosvenor had approximately $79 billion in
assets under management.

The principal methodology used in these ratings was Asset Managers
Methodology published in November 2019.


HEALTHY EXTRACTS: Hyperion, OPM Terminate Acquisition Agreement
---------------------------------------------------------------
Healthy Extracts Inc., on Jan. 13, 2023, entered into an
Acquisition Agreement for the acquisition of Hyperion, L.L.C. and
Online Publishing & Marketing, LLC, both Virginia limited
liabilities companies, by merging them into the Company's
newly-formed wholly-owned subsidiaries, Green Valley Natural
Solutions, LLC and Online Publishing & Marketing, LLC, both Nevada
limited liability companies.

The Company has not completed the acquisitions, and on April 18,
2024, the Company received a Notice of Termination of the
Acquisition Agreement from both Hyperion, L.L.C. and Online
Publishing & Marketing, LLC.

                      About Healthy Extracts

Headquartered in Henderson, NV, Healthy Extracts Inc. --
www.healthyextractsinc.com -- is a platform for acquiring,
developing, patenting, marketing, and distributing plant-based
nutraceuticals.  The Company's proprietary and patented products
target select high-growth categories within the multibillion-dollar
nutraceuticals market, such as heart, brain and immune health.

Lakewood, CO-based BF Borgers CPA PC, the Company's auditor since
2020, issued a "going concern" qualification in its report dated
April 1, 2024, citing that the Company's significant operating
losses raise substantial doubt about its ability to continue as a
going concern.



HESS MIDSTREAM: Fitch Assigns 'BB+' Rating on Sr. Unsecured Notes
-----------------------------------------------------------------
Fitch Ratings has assigned a 'BB+'/'RR4' rating to Hess Midstream
Operations, LP's (HESM OpCo) proposed new senior unsecured notes.
HESM OpCo intends to use the net proceeds to repay existing
indebtedness and general corporate purposes.

The proposed new issuance is not expected to have a meaningful
impact on HESM OpCo's leverage and credit profile. Fitch has
reviewed preliminary terms of the issuance, and the assigned
ratings assume no material variations in the final terms.

HESM OpCo's ratings continue to reflect Fitch's expectations of
leverage to be slightly above 3.0x, given the trends in debt funded
share buybacks. The ratings are further bolstered by HESM OpCo's
strong cash flow profile. Risks associated with single-basin
focused midstream service providers with high customer
concentration remains causes of concern.

KEY RATING DRIVERS

Credit Neutral Issuance: The total debt balance and EBITDA leverage
are not expected to be meaningfully impacted by this transaction.
The new issuance is expected to rank pari pasu to existing senior
unsecured indebtedness. Therefore, the 'BB+'/'RR4' rating for the
proposed senior unsecured offering is consistent with the ratings
on HESM OpCo's existing senior unsecured notes.

Relationship with Owners: HESM OpCo is jointly owned by Hess Corp.
(HES; BBB/RWP) and Global Infrastructure Partners (GIP), with both
having a 37.8% and 26.8% ownership stake respectively, and the
remaining is held by the public. Given the joint ownership, all the
major decisions have to be unanimous between HES and GIP, hence,
Fitch does not view a single owner to have significant control over
HESM OpCo, and therefore does not apply its parent subsidiary
linkage (PSL) criteria.

HES is HESM OpCo's primary counterparty responsible for driving
almost all of HESM OpCo's business, and though HESM OpCo's rating
isn't explicitly linked to HES, a meaningfully negative impact at
HES, could have negative consequences for HESM OpCo's credit
profile.

Fitch acknowledges the planned acquisition of HES by Chevron Corp.
(Chevron) and GIP by BlackRock, Inc (BlackRock), however, Fitch,
currently does not expect them to have a meaningful impact on HESM
OpCo's credit profile. Fitch also notes GIP's reduced stake via
secondary sales has no effect on HESM OpCo's governance, with
sporadic future transactions unlikely to impact control.

Strong Cashflow Profile: Nearly 100% of HESM OpCo's run-rate EBITDA
is expected to come from fee-based contracts, most of which are
under long-term revenue assurance type minimum volume commitment
(MVC) contracts. The fee-based and volume commitment contracts
protect against volatility in commodity prices and hydrocarbon
production, providing greater stability and visibility of future
cash flows. Nearly all of HESM OpCo's MVCs are with HES, which will
continue through 2033.

The MVCs are based on 80% of HES's nominations and are set in
advance on a three-year rolling basis. Once set, they can only be
upsized, providing further downside protection against volumetric
risks. Throughput across HESM OpCo's systems is expected to grow,
at least in the near-term, spurred by HES's production growth and
increased gas capture requirements.

Disciplined Leverage Profile: HESM OpCo is expected to continue
maintaining a relatively low leverage profile compared to its
midstream peers. Fitch expects the company will maintain leverage
around its stated target of 3.0x. Fitch's expectations of strong
positive FCF generation for HESM OpCo underscores credibility of
management's leverage target.

The majority of the FCF is expected to be utilized towards
shareholder returns via buybacks, and dividend increases over its
targeted 5% annual distribution growth. Furthermore, debt funded
sponsor held unit repurchases could continue to occur till leverage
trends close to the target, and no significant expansion(s) or
acquisition(s) are identified.

Geographic and Customer Concentration: HESM OpCo's assets are
concentrated in the Bakken and Three Forks shale plays in the
Williston basin area of North Dakota, collectively referred to as
Bakken. In addition, HESM OpCo's revenue is almost entirely driven
by volumes coming from HES. Therefore, HESM OpCo contains the risk
of shifting dynamics in North American oil and gas production
landscape which may disproportionally impact the Bakken, and or
idiosyncratic factors that may impact HES.

Fitch, however, acknowledges, that volumes across HESM OpCo's
systems have been strong, mostly around or over MVCs, demonstrating
robust regional production tends. Moreover, continued strength in
counterparty credit quality, to some extent, alleviates customer
concentration risks. Fitch also notes, that HES's acquisition by
Chevron would lead to an improvement in counterparty credit
quality.

Robust Fee Structure: Nearly 85% of HESM OpCo's fee-based contracts
have a fixed rate. Initial fees on the fixed rate contracts were
reset in 2024, based on the average contract rate for the years
2021 to 2023 on a 2023 inflation adjusted basis, and increases
every year based on CPI escalators capped at 3% annually. The fees
once set, cannot be changed or reduced.

The fees on the remaining 15% of fee-based contracts are set on a
cost of service framework. It incorporates actual and forecasted
volumes, and capital and operational expenditures. The fees are
subject to annual recalculation for all forward years to maintain
contractual return on capital deployed. This feature applies to
HESM OpCo's water gathering and terminaling agreements through
2033, and certain gas gathering agreements through 2028.

DERIVATION SUMMARY

EQM Midstream Partners, LP (EQM; BB/RWP), similar to HESM OpCo,
with operations concentrated in the Appalachia basin, derives the
majority of its revenue from a single counterparty i.e. EQT Corp.
(EQT; BBB-/Stable). EQM is larger in size in terms of EBITDA
compared with HESM OpCo, however, the latter has a leverage that is
more than two and a half turns lower. Furthermore, the high cost of
EQM's Mountain Valley Pipeline (MVP) joint venture still carries
meaningful execution risks. HESM OpCo's lower leverage, is the
primary factor leading to a one-notch difference in IDR with EQM.

EnLink Midstream, LLC (ENLC; BBB-/Stable), has larger operational
scale and is geographically more diversified with assets located
across multiple oil and gas producing regions across the United
States. Fitch's expectations for leverage at ENLC is higher
compared to HESM OpCo, however, the former recently revised its
long-term leverage target to 3.5x, which is only half a turn higher
compared with HESM OpCo's target of 3.0x. Furthermore, ENLC had
successfully balanced its financial goals in recent years to
achieve its previous target of 4.0x. HESM OpCo's smaller size and
the lack of geographic diversification is the primary factor
leading to a one-notch difference in IDR with ENLC.

KEY ASSUMPTIONS

- Fitch's oil and gas price deck;

- Volume throughput across gathering, processing, and terminaling
businesses consistent with MVCs, and Fitch's expectations for HES's
oil and gas production in the Bakken;

- Dividend growth maintained at 5% per year;

- Stable maintenance capital spend consistent with prior years, and
growth capital spend for compressor expansions and new well
connects consistent with HES's development plans;

- Sporadic multiple debt funded sponsor held share buybacks in
small increments.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

- EBITDA leverage sustained below 3.0x, while maintaining the
current size;

- A significant acquisition that meaningfully diversifies business
risk, provided EBITDA leverage stays below 4.5x, although this may
vary, depending on the risk profile of the acquisition.

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

- Negative rating action at primary counterparty HES;

- Adverse changes in certain terms in the array of contracts with
HES;

- EBITDA leverage sustained above 4.0x, while maintaining the
current size.

LIQUIDITY AND DEBT STRUCTURE

Ample Liquidity: Pro forma for the new issuance and subsequent
repayment of the revolving credit facility, the company is expected
to have substantially full availability under its $1 billion
revolver. HESM OpCo could also have a meaningful cash balance
depending on the issuance size. The revolver matures on July 14,
2027. HESM OpCo's nearest debt maturity is $800 million 5.625%
senior unsecured notes due 2026.

Financial covenants on the secured credit facility permits a
maximum funded debt/EBITDA ratio of 5.0x as defined in the credit
facility for the prior four quarters, expanding temporarily to 5.5x
in the event of certain acquisitions. HESM OpCo was compliant with
all the covenants as of the latest quarter end, and Fitch expects
the company to remain comfortably within the covenant limits at
least in the near-term. The liquidity is further bolstered by
expectations of continued strong positive FCF generation.

ISSUER PROFILE

HESM OpCo is a fee-based oil, gas, and water, gathering,
processing, and terminaling (midstream) company with assets located
in the Bakken shale play of North Dakota in the United States. HESM
OpCo is jointly owned by HES and GIP, and part of it is held by
public unit holders.

SUMMARY OF FINANCIAL ADJUSTMENTS

Fitch typically calculates midstream energy issuers' leverage by
using EBITDA figure that excludes earnings from equity investments
and adding distributions from equity investments.

DATE OF RELEVANT COMMITTEE

23 August 2022

ESG CONSIDERATIONS

Hess Midstream Operations LP has an ESG Relevance Score of '4' for
Group Structure due to the somewhat complex organizational
structure, and exposure to potential financial issues arising
elsewhere in the group, which has a negative impact on the credit
profile, and is relevant to the rating[s] in conjunction with other
factors.

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.

   Entity/Debt             Rating         Recovery   
   -----------             ------         --------   
Hess Midstream
Operations LP

   senior unsecured    LT BB+  New Rating   RR4


HESS MIDSTREAM: Moody's Rates New $500MM Sr. Unsecured Notes 'Ba2'
------------------------------------------------------------------
Moody's Ratings assigned a Ba2 rating to Hess Midstream Operations
LP's (HESM Opco) proposed $500 million senior unsecured notes due
2029. HESM Opco's other ratings, including its Ba1 Corporate Family
Rating and stable outlook were unchanged.

Net proceeds will be used to repay outstanding borrowings under the
company's revolving credit facility, which had $455 million
outstanding as of March 31, 2024.

"This is a leverage neutral transaction, although liquidity will
improve because of increased revolver availability," said Sajjad
Alam, a Moody's Vice President.

RATINGS RATIONALE

HESM Opco's proposed senior unsecured notes were rated Ba2,
consistent with the company's existing senior notes ratings. The
proposed notes will rank equally in right of payment and have
substantially similar covenants and guarantees as the existing
notes. The unsecured notes are rated one-notch below the Ba1 CFR
given their junior position in the capital structure behind the
secured revolving and term loan facilities. The revolver and the
term loan rank pari passu with respect to one another and are both
rated Baa1, or three notches above the CFR because of their
priority claim over the partnership's assets.

HESM Opco will have full availability under its $1 billion
committed revolving credit facility following the closing of the
proposed notes transaction and should be able to maintain good
liquidity through 2025. The revolver expires in July 2027, and
Moody's expects the company to maintain comfortable cushion under
the two financial covenants governing the credit facility - a
debt/EBITDA ratio not to exceed 5.0x and a secured debt/EBITDA
ratio not to exceed 4.0x prior to obtaining an investment grade
rating on a senior unsecured basis. The company's next bond
maturity is in February 2026, when its $800 million 5.625% notes
come due. The term loan matures in July 2027.

HESM Opco's Ba1 CFR is supported by its long term fee-based
contracts with Hess Corporation (Hess, Baa3 ratings under review
for upgrade); strategically located and integrated midstream assets
in the Williston Basin that are critical to Hess' Bakken production
operations; and relatively low financial leverage, which is
expected to remain around 3x. HESM Opco benefits from significant
minimum volume commitments, relatively low capital expenditures,
organic growth visibility and prudent unitholder distributions.
HESM Opco is the principal wholly owned subsidiary of Hess
Midstream LP (HESM, unrated), which is a publicly traded energy
company. HESM Opco's ratings are restrained by its single basin
exposure and high customer concentration with Hess. The rating also
considers the company's governance structure, including the 50/50
ownership of HESM Opco's general partner by Hess and Global
Infrastructure Partners (GIP, unrated), as well as the shared
ownership of HESM's limited partnership units by Hess, GIP and the
general public.

The stable outlook reflects Moody's expectation of reliable cash
flow generation and that management will maintain financial
leverage around its 3x Debt/EBITDA target.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATING

The CFR could be upgraded if HESM Opco can meaningfully diversify
its basin exposure while maintaining its strong contractual
position and low financial leverage. A wholly unsecured capital
structure would also be expected for an upgrade. HESM Opco could be
downgraded should leverage exceed 3.5x, or should contract
structure erode resulting in increased cash flow volatility and
leverage.

Hess Midstream Operations LP is the principal subsidiary of Hess
Midstream LP, which is a publicly traded midstream energy company
that provides fee-based services to Hess Corporation and
third-party customers in the Williston Basin area of North Dakota.

The principal methodology used in this rating was Midstream Energy
published in February 2022.


HEYWOOD HEALTHCARE: Wins Cash Collateral Access Thru June 7
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Massachusetts,
Central Division, authorized Heywood Healthcare, Inc. and
affiliates to use cash collateral on an interim basis in accordance
with the budget, through the earliest to occur of (i) the entry of
the Final Order; ( ii) the occurrence and during the continuance of
a Termination Event and following the Default Notice Period; or
(iii) June 7, 2024.

The events that constitute a "Termination Event" include:

a. failure by any Debtor to comply with the Approved Budget
(including any variance testing, but subject to the Permitted
Variances);

b. (i) the use of cash collateral other than in accordance with the
Approved Budget and the terms and conditions of the Sixth Interim
Order, or (ii) the termination, withdrawal or modification of State
Funding;

c. failure by any Debtor to comply with Sections 1.2(c), 1.2(e),
2.1(b), 2.1(e), 3.2 or 4.1 of the Fourth Interim Order; and

d. the entry by a court of competent jurisdiction of an order
pursuant to which the Prepetition Secured Parties will cease to
have a valid and perfected first priority security interest in and
lien on any Prepetition Collateral (subject to the NMTC Lien and
Ground Lease Interest), junior only to the Carve Out and any
Permitted Liens.

The Debtors require access to their cash collateral to fund the
ongoing operating expenses of the other Debtors during the Chapter
11 Cases.

The Debtors, the Massachusetts Development Finance Agency and U.S.
Bank Trust Company, National Association, as successor in interest
to U.S. Bank National Association, as trustee, are party to three
loan and trust agreements, each dated as of November 1,2019,
providing a bond facility, pursuant to which the Issuer issued the
following three series of bonds: (a) the Series 2019A Bonds in an
aggregate principal amount of $28.350 million, (b) the Series
2019B-1 Bonds in an aggregate principal amount of $10.525 million,
and (c) the Series 2019B-2 Bonds in an aggregate principal amount
of $11 million. Pursuant to the Prepetition LTAs, the Issuer loaned
the proceeds of the Series 2019 Bonds to the Debtors to, among
other things, refinance pre-existing bond debt obligations and
finance the construction, improvement, renovation and/or equipping
of the Debtors' health facilities. In connection with each of the
Series 2019 Bonds, the Debtors entered into a corresponding
continuing covenant agreement, each dated as of November 1, 2019
with Siemens Public, Inc., pursuant to which the Bondholder
purchased the applicable Series 2019 Bond and became the sole
registered and beneficial owner of such bond.

Separate from their bond debt obligations, the Debtors are also
party to the Loan Agreement, dated as of April 12, 2022 with
Siemens Financial Services, Inc., pursuant to which SFS provided
the Debtors with a term loan in the aggregate principal amount of
$10 million. The Prepetition Notes, together with the Prepetition
LTAs, the Series 2019 Bonds, the CCAs, the Master Indenture, the
Siemens Loan Agreement, and together with all other agreements,
documents, and instruments executed and/or delivered with, to or in
favor of the Prepetition Secured Parties.

The Debtors' obligations owing to the Bondholder and SFS are
evidenced and secured by the Debtors' obligations under the Master
Trust Indenture, dated as of November 1, 2019, by and among the
Debtors and U.S. Bank Trust Company, National Association,
successor in interest to U.S. Bank National Association.

U.S. Bank Trust Company, National Association, as Master Trustee,
Siemens Public, Inc., and Siemens Financial Services, Inc. assert a
potential interest in the cash collateral.

As of the Petition Date, the Debtors' prepetition secured
indebtedness includes approximately $71 million in funded debt held
by third-party lenders.

As adequate protection, the Prepetition Secured Parties are granted
valid and perfected postpetition replacement security interests in
and liens upon the Prepetition Collateral.

Subject only to the Carve Out and the Permitted Liens, the
Prepetition Secured Parties are granted allowed administrative
expense claims and allowed superpriority administrative expense
claims pursuant to 11 U.S.C. Sections 503(b), 507(a), and 507(b).

A final hearing on the matter is set for June 5 at 2 p.m.

A copy of the order is available at https://urlcurt.com/u?l=l5bABM
from PacerMonitor.com.

                  About Heywood Healthcare, Inc.

Heywood Healthcare, Inc. is a non-profit community-owned hospital
licensed for 134 bed hospital, located in Gardner, Massachusetts.
The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Mass. Lead Case No. 23-40817) on October
1, 2023. In the petition signed by Thomas Sullivan, co-chief
executive officer, the Debtor disclosed up to $500,000 in both
assets and liabilities.

Judge Elizabeth D. Katz oversees the case.

John M. Flick, Esq., at Flick Law Group, PC, represents the Debtor
as legal counsel.


HUDSON 888: Unsecureds to Get Paid in 2 Installments in Plan
------------------------------------------------------------
Hudson 888 Owner LLC ("Fee Owner") and Hudson 888 Holdco LLC
("Holdco") filed with the U.S. Bankruptcy Court for the Southern
District of New York a Disclosure Statement in connection with the
Chapter 11 Plan of Reorganization dated April 25, 2024.

Fee Owner owns a mixed-use real estate project commonly known as
the Bloom on FortyFifth Condominium, located at 500 West 45th
Street (the "Project"), on which construction was completed in 2020
and consists of 92 studio, one-bedroom, two-bedroom, and
three-bedroom residential condominium apartments (the "Residential
Units") and five commercial condominium units (the "Retail Units").


Holdco is a Delaware limited liability company, with XIN Manhattan
Holding LLC as its sole member. Holdco's sole asset is the
membership interests it holds in Fee Owner.

The offering plan for the sale of the condominium units at the
Bloom on Forty-Fifth Condominium was declared effective by the New
York Attorney General's Office in 2021, and the first sales of the
residential condominium units closed in 2022. As of January 7,
2024, Fee Owner owned 60 residential condominium units and all five
commercial condominium units.

Since the Petition Date, Fee Owner has closed the sale of one
Residential Unit and has two more Units under Court-approved
contract for sale, which should also close in the near term. The
remaining unsold Residential Units are currently for sale. Neither
Fee Owner nor Holdco has any employees. Rather, the Project is
managed by FirstService Residential Management (the "Manager"), and
the Manager's employees provide day-to-day services for residents
and tenants of the Project.

On January 17, 2024, the New York Attorney General approved the
Debtors' amended Offering Plan, providing regulatory approval for
the Debtors to resume sales of the Unsold Residential Units.
Accordingly, on January 24, 2024, the Debtors filed a motion to
authorize the resumption of sales of Residential Units (the "Sales
Motion"). On January 30, 2024, the Secured Creditors filed an
objection to the Sales Motion. On January 31, 2024, the Court held
a hearing on the Sales Motion, and the Debtors and the Secured
Creditors were instructed to negotiate a consensual process by
which the Debtors could resume sales of the Project's Unsold
Residential Units (the "Sales Process").

As the Debtors and the Secured Creditors continued their
negotiations regarding the Sales Process, on February 6, 2024, the
Debtors and the Secured Creditors agreed to a stipulated order
authorizing the sale of the Project's unit 723, which was entered
by the Court on February 6, 2024. On March 5, 2024, after the
Secured Creditors refused to consent to the sale of the Project's
unit 329 ("Unit 329") and unit 801 ("Unit 801"), the Debtors filed
an emergency motion to sell those two condominium units (the
"Emergency Sales Motion"). The Court granted the Emergency Sales
Motion on March 14, 2014.

Subsequently, the Debtors and the Secured Creditors agreed to a
Sales Process and submitted to the Court a proposed order on the
Sales Motion detailing the same. This Sales Motion order was
entered by the Court on March 27, 2024.

The Debtors are optimistic that the negative financial impacts of
the Covid pandemic and high interest rates are beginning to
subside. Indeed, the inventory of residential condominium units is
scarce, and interest in the remaining unsold residential units in
the Project is brisk, with Fee Owner selling one Residential Unit
and preparing to close on the sale of two other units at favorable
prices even during these Chapter 11 Cases.

Class 4 consists of General Unsecured Claims. Each holder of an
Allowed General Unsecured Claim shall receive (i) Cash equal to 50%
of the Allowed amount of such Claim on the later of (a) the Closing
Date and (b) the date that is the first Business Day after the date
that is 30 calendar days after the date such Claim becomes an
Allowed Claim and (ii) Cash equal to the remaining 50% of the
Allowed amount of such Claim on or before the later of (y) the last
Business Day of the fifth full calendar month following the Closing
Date and (z) the first Business Day after the date that is 30
calendar days after the date such Claim becomes an Allowed Claim.

In consideration of the Affiliate Capital Contribution being made
under this Plan by or on behalf of the holders of the Allowed
Interests in the Debtors, each such holder shall retain its Allowed
Interests.

The Plan provides for recoveries to Allowed Claim holders in the
form of Cash following the refinancing of the Loans in accordance
with the priorities set forth in the Bankruptcy Code and provides
the basis for the expeditious conclusion of the Chapter 11 Cases.


Fee Owner is scheduled to close on the sales of Unit 801 and Unit
329 in April or early May 2024. The sales of Unit 801 and Unit 329
are expected to generate combined net proceeds of approximately
$3.87 million. Fee Owner further projects the sale of three
additional unsold Residential Units by the end of June 2024, which
are expected to result in approximately $3.2 million in additional
net proceeds. The net proceeds of these Residential Unit sales will
be used to pay down the balance of the Senior Secured Debt and
related interest owed to Mortgage Debt Holder, in accordance with
the Final Order Authorizing Use of Cash Collateral entered by the
Court on March 27, 2024, reducing the amount of proceeds needed
from the Refinancings.

A full-text copy of the Disclosure Statement dated April 25, 2024
is available at https://urlcurt.com/u?l=aMZhvq from
PacerMonitor.com at no charge.

Attorneys for the Debtors:

     Stephen B. Selbst, Esq.
     Robert D. Gordon, Esq.
     Nicholas G.O. Veliky, Esq.
     HERRICK, FEINSTEIN LLP
     2 Park Avenue
     New York, NY 10016
     Tel: (212) 592-1400
     Fax: (212) 592-1500

                    About Hudson 888 Owner LLC

Hudson 888 Owner LLC is a Single Asset Real Estate debtor (as
defined in 11 U.S.C. Sec. 101(51B)).

The Debtor sought protection under Chapter 11 U.S. Bankruptcy Code
(Bankr. S.D.N.Y. Case No. 24-10021) on Jan. 7, 2024.  In the
petition signed by Sheng Zhang, chairman and CEO, the Debtor
disclosed up to $500 million in both assets and liabilities.

Judge Michael E. Wiles oversees the case.

Stephen B. Selbst, Esq., at Herrick Feinstein LLP, is the Debtor's
legal counsel.


INH BUYER: BlackRock DLC Marks $3.7MM Loan at 25% Off
-----------------------------------------------------
BlackRock Direct Lending Corp has marked its $3,696,814 loan
extended to INH Buyer, Inc. (IMS Health) to market at $2,783,701 or
75% of the outstanding amount, as of March 31, 2024, according to a
disclosure contained in BlackRock DLC's Form 10-Q for the quarterly
period ended March 31, 2024, filed with the U.S. Securities and
Exchange Commission.

BlackRock DLC is a participant in a First Lien Term Loan (1.5% Exit
Fee) to INH Buyer. The loan accrues interest at a rate of 12.41%
(SOFR (Q) + 7%, 1% Floor) per annum. The loan matures on June 28,
2028.

BlackRock DLC is a Delaware corporation formed on October 12, 2020
as an externally managed, closed-end, non-diversified management
investment company. The Company elected to be regulated as a
business development company under the Investment Company Act of
1940, as amended. The Company invests primarily in middle-market
companies headquartered in North America. The Company commenced
operations on November 30, 2020. BlackRock DLC's fiscal year ends
December 31.

Danbury, Conn.-based IMS Health, Inc. provides critical sales and
other market intelligence primarily to pharmaceutical and biotech
companies.




INNOVATE CORP: Incurs $20.1 Million Net Loss in First Quarter
-------------------------------------------------------------
Innovate Corp. filed with the Securities and Exchange Commission
its Quarterly Report on Form 10-Q reporting a net loss of $20.1
million on $315.2 million of revenue for the three months ended
March 31, 2024, compared to a net loss of $8 million on $317.9
million of revenue for the three months ended March 31, 2022.

As of March 31, 2024, the Company had $943.5 million in total
assets, $1.07 billion in total liabilities, $38.6 million in total
temporary equity, and a total stockholders' deficit of $173.2
million.

Innovate said, "At this time, management believes that the Company
will be able to continue to meet its liquidity requirements and
fund its fixed obligations (such as debt service and operating
leases) and other cash needs for its operations for at least the
next twelve months from the issuance of these unaudited Condensed
Consolidated Financial Statements through a combination of
available cash on hand, distributions from the Company's
subsidiaries and the rights offering together with the back-stop
and private placement commitments from Lancer Capital under the
Investment Agreement.  The ability of INNOVATE's subsidiaries to
make distributions to INNOVATE is subject to numerous factors,
including restrictions contained in each subsidiary's financing
agreements, availability of sufficient funds at each subsidiary and
the approval of such payment by each subsidiary's board of
directors, which must consider various factors, including general
economic and business conditions, tax considerations, strategic
plans, financial results and condition, expansion plans, any
contractual, legal or regulatory restrictions on the payment of
dividends, and such other factors each subsidiary's board of
directors considers relevant.  Although the Company believes, to
the extent needed, that it will be able to raise additional debt or
equity capital, refinance indebtedness or preferred stock, enter
into other financing arrangements or engage in asset sales and
sales of certain investments sufficient to fund any cash needs that
the Company is not able to satisfy with the funds on hand or
expected to be provided by our subsidiaries, there can be no
assurance that it will be able to do so on terms satisfactory to
the Company, if at all.  Such financing options, if pursued, may
also ultimately have the effect of negatively impacting our
liquidity profile and prospects over the long-term and dilute
holders of common stock.  Our ability to sell assets and certain of
our investments to meet our existing financing needs may also be
limited by our existing financing instruments.  In addition, the
sale of assets or the Company's investments may also make the
Company less attractive to potential investors or future financing
partners."

Commentary

"INNOVATE delivered $315.2 million in revenue in the first quarter
as the three business segments experienced a strong start to 2024,"
said Avie Glazer, Chairman of INNOVATE.  "Infrastructure's first
quarter top line results were better than expected while also
achieving year-over-year growth for Adjusted EBITDA.  At Life
Sciences, MediBeacon and R2 continue to make progress and look to
keep momentum from last year.  At Spectrum, the business expanded
profitability and delivered strong results in the first quarter."

"We delivered strong first quarter financial results driven by
continued momentum across our three business segments," said Paul
Voigt, INNOVATE's Interim CEO.  "The macro backdrop for DBM
remained relatively unchanged; however, the business still
delivered strong results and expanded margins further.  At Pansend,
MediBeacon is engaged with ongoing discussion with the FDA and R2
experienced strong North America unit sales growth, again, this
quarter. Finally, Broadcasting's network distribution revenues grew
as they launched new networks, driving a record result this
quarter."

A full-text copy of the Form 10-Q is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/1006837/000100683724000079/vate-20240331.htm

                       About Innovate

New York-based Innovate Corp. -- www.innovatecorp.com -- is a
diversified holding company that has a portfolio of subsidiaries in
a variety of operating segments. The Company seeks to grow these
businesses so that they can generate long-term sustainable free
cash flow and attractive returns in order to maximize value for all
stakeholders. As of Dec. 31, 2023, its three operating platforms or
reportable segments, based on management's organization of the
enterprise, are Infrastructure, Life Sciences and Spectrum, plus
its Other segment, which includes businesses that do not meet the
separately reportable segment thresholds.

Innovate incurred a net loss of $38.9 million in 2023, compared to
a net loss of $42 million in 2022 . As of Dec. 31, 2023, the
Company had $1.04 billion in total assets, $1.18 billion in total
liabilities, $15.4 million in total temporary equity, and a total
stockholders' deficit of $151.7 million.

Innovate disclosed in a Form 8-K filed with the Securities and
Exchange Commission that on Feb. 26, 2024, it received a written
notice from the New York Stock Exchange that it was not in
compliance with the continued listing standard set forth in Section
802.01C of the NYSE's Listed Company Manual, as the average closing
price of the Company's common stock was less than $1.00 per share
over a consecutive 30 trading-day period.


INNOVATIVE DESIGNS: Incurs $63K Net Loss in First Quarter
---------------------------------------------------------
Innovative Designs, Inc., filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q reporting a net loss
of $63,393 on $65,886 of net revenues for the three months ended
Jan. 31, 2024, compared to a net loss of $59,094 on $71,647 of net
revenues for the three months ended Jan. 31, 2023.

As of Jan. 31, 2024, the Company had $1.51 million in total assets,
$202,494 in total current liabilities, $39,380 in total long-term
liabilities, and $1.27 million in total stockholders' equity.

The Company had a net loss and a negative cash flow of ($102,860)
for the three month period ended Jan. 31, 2024.  In addition, the
Company has an accumulated deficit of ($10,700,350).  Management's
plans include cash receipts through sales, sales of Company stock,
and borrowings from private parties.  According to the Company,
these factors raise substantial doubt regarding the Company's
ability to continue as a going concern for a period of one year
from the issuance of these condensed financial statements.

A full-text copy of the Form 10-Q is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001190370/000173112224000714/e5633_10q.htm

                    About Innovative Designs

Headquartered in Pittsburgh, Pennsylvania, Innovative Designs, Inc.
operates in two separate business segments: a house wrap for the
building construction industry and cold weather clothing.  Both of
the Company's segment lines use products made from Insultex, which
is a low-density polyethylene semi-crystalline, closed cell foam in
which the cells are totally evacuated, with buoyancy, scent block,
and thermal resistant properties.


JOANN INC: Emerges from Bankruptcy, Cuts Debt in Half
-----------------------------------------------------
JOANN Inc., on April 30, 2024 successfully emerged from its
court-supervised financial restructuring process.  The Company
substantially reduced its funded debt by half while further
enhancing its liquidity through a $153 million exit financing
facility that replaces the debtor-in-possession financing. The
prepackaged Chapter 11 plan was supported by the Company's lenders,
creditors and industry partners, and became effective April 30,
enabling JOANN to be in its best financial position in recent
history.

Key highlights of the restructuring include the conversion of
debtor-in-possession loans into exit term loans under the Exit Term
Loan Credit Agreement. The exit term loan credit agreement provides
approximately $153.7 million aggregate principal amount of exit
term loans comprised of converted DIP Term Loans in the same
aggregate principal amount (plus accrued interest and fees payable
in kind, if any) based on amounts outstanding under the DIP
Facility on the Effective Date.

Additionally, the Company entered into Amendments and Restatements
of its Existing Senior Secured Asset-Based Credit Facilities, and
upon the effectiveness of the Plan on the Effective Date, the
Company adopted an Amended and Restated Certificate of
Incorporation and Amended and Restated Bylaws.  Moreover, pursuant
to the terms of the Plan, all of the directors of the board of
directors of JOANN then serving resigned effective as of the
Effective Date from their roles as directors of JOANN (and any
committees of the Board thereof, including: (1) Anne Mehlman; (2)
Darrell Webb; (3) Lily Chang; (4) Marybeth Hays; (5) Brian Coleman;
and (6) Pamela Corrie.

There were no store closures or layoffs in connection with this
process. From yarn and fabrics to crafts and home decor, JOANN
continues to serve as a one-stop destination for creativity in its
more than 800 stores, on JOANN.com and on its mobile app.

"For more than 80 years, JOANN has been a leader in the textiles,
sewing and craft industries, and we are now moving forward on the
strongest financial foundation in many years. I am confident in
this company's unique ability to continue serving and inspiring
handmade happiness with our millions of loyal customers for a long
time to come," said Chris DiTullio, Chief Customer Officer and
Co-Lead of the Interim Office of the CEO. "We see great
opportunities ahead for this business and are as committed as ever
to our customers, Team Members and communities nationwide."

JOANN's Prepackaged Joint Plan of Reorganization was confirmed by
the Court on April 25 with the unanimous support from all voting
creditors. The expedited process lasted less than 45 days thanks to
strong alignment and support among all involved parties. In
conjunction with its exit from the court supervised process, JOANN
is now a private company.

Scott Sekella, Chief Financial Officer and Co-Lead of the Interim
Office of the CEO, added, "We are very pleased with how smoothly
and swiftly this process has progressed and are incredibly
appreciative of the support from our lenders, creditors and
industry partners, not to mention our more than 18,000 Team Members
in our stores, distribution centers and corporate headquarters who
remain committed to our mission. We have now emerged as a
significantly strengthened business and will continue to invest in
our teams, communities and the customer experience."

                         About Joann Inc.

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.

On March 18, 2024, JOANN Inc. and 9 affiliates filed voluntary
petitions for relief under Chapter 11 of the Bankruptcy Code
(Bankr. D. Del. Lead Case No. 24-10418). JOANN listed
$2,257,700,000 in assets against $2,440,700,000 in liabilities as
of Oct. 28, 2023.

Judge Craig T. Goldblatt oversees the case.

The Debtors tapped Latham & Watkins, LLP as legal counsel; Houlihan
Lokey Capital, Inc. as investment banker; and Alvarez & Marsal
North America, LLC, as financial advisor. Kroll Restructuring
Administration, LLC is the noticing agent.


JOHNSTONE SUPPLY: Moody's Assigns First Time B2 Corp. Family Rating
-------------------------------------------------------------------
Moody's Ratings assigned first time ratings to Johnstone Supply,
LLC including a B2 corporate family rating and a B2-PD probability
of default rating. In addition, Moody's assigned B2 rating to
Johnstone Supply's proposed senior secured first lien term loan B.
The outlook is stable.

Proceeds from the new term loan, new asset-based revolving credit
facility, and equity contribution will be used to repay existing
debt. Johnstone Supply's capital structure will consist of a $1
billion term loan due 2031 and a $500 million asset-based revolving
credit facility due 2029.

"Johnstone Supply's B2 CFR reflects the company's high financial
leverage and acquisitive growth strategy. Moody's expect the
company to maintain leverage between 5x and 6x as it focuses on
acquiring independently owned Johnstone Supply stores," said Justin
Remsen, Moody's Assistant Vice President.

RATINGS RATIONALE

Johnstone Supply's B2 CFR is constrained by its high leverage,
integration risk associated with its growth through acquisition
strategy, presence in a fragmented market with intense competition,
and industry seasonality. The rating also reflects the company's
scale that provides efficient access to the supply chain,
geographic diversity, and the non-discretionary nature of its
services. Repair and replacement of HVACR equipment is prioritized
by home owners, but economic and weather conditions can influence
purchasing decisions.

The rating also incorporates Moody's consideration of governance
risks associated with the family office ownership of the company
and the absence of an independent board. Further, Moody's views the
financial policies as aggressive given the high pro forma leverage
and the expectation that the company will continue to have an
active acquisition strategy. Acquisition integration risk is
partially mitigated by the company's focus on acquiring
independently owned Johnstone Supply stores. Independently owned
stores account for more than 350 locations and are key customers of
Johnstone Supply.

Moody's expects Johnstone Supply to maintain good liquidity over
the next 12 to 18 months. Moody's projects over $75 million in
annual free cash flow in 2024 and 2025. Liquidity is also supported
by a $500 million asset-based revolving credit facility, which will
be used primarily to fund acquisitions. The credit facility
contains a minimum fixed charge coverage ratio of 1x that is tested
when the revolver availability is less than the greater of 10% of
the line cap or $37.5 million. The company is expected to remain in
compliance with the covenant.

The B2 rating assignment on the proposed senior secured first lien
term loan is in line with the B2 CFR, reflecting subordination to
the company's ABL facility, but cushion provided by the company's
non-debt claims.

The stable outlook reflects Moody's expectation of good liquidity
and that the company will continue to successfully integrate its
acquisitions as it executes its growth strategy.

Marketing terms for the new credit facilities (final terms may
differ materially) include the following:

Incremental pari passu debt capacity up to the greater of 100% of
consolidated pro forma EBITDA and a corresponding dollar-capped
amount, plus unlimited amounts subject to 4.75x first lien net
leverage ratio, with no inside maturity sublimit. A "blocker"
provision restricts the transfer of material intellectual property
to unrestricted subsidiaries. The credit agreement is expected to
provide some limitations on up-tiering transactions, requiring
affected lender consent for amendments that subordinate the debt
and liens unless such lenders can ratably participate in such
priming debt. Amounts up to 100% of unused capacity from the
general restricted payment basket and the restricted debt payment
basket may be reallocated to incur debt.

ESG CONSIDERATIONS

Johnstone Supply's credit impact score of CIS-4 indicates the
rating is lower than it would have been if ESG risk exposures did
not exist. Johnstone Supply has exposure to governance risks driven
primarily by its concentrated private ownership and aggressive
financial policies, which include high leverage and an acquisitive
growth strategy. These governance considerations are reflected in
the company's issuer profile score of G-4. Johnstone Supply's
environmental and social risks are in line with the wider
distributor sector, as reflected by the assigned issuer profile
scores of E-4 and S-3, respectively.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

The ratings could be upgraded if the company displays a commitment
to maintaining conservative financial policies and credit metrics.
Specifically, a higher rating would require debt/EBITDA sustained
below 4.5x, EBITA/Interest above 3x and good liquidity.

The ratings could be downgraded if there is a deterioration of the
company's operating performance, liquidity profile, or increasingly
aggressive debt funded acquisition or significant shareholder
returns. Quantitatively, the ratings could be downgraded if
debt/EBITDA is maintained above 6x or EBITA/interest expense
declines below 1.5x.

Headquartered in Portland, Oregon, Johnstone Supply is a leading
wholesale distributor of heating, ventilation, air conditioning,
and refrigeration (HVACR) equipment, parts, and supplies, primarily
serving the repair and replacement end market. The company is owned
by Redwood Holdings, which is considered a family office.

The principal methodology used in these ratings was Distribution
and Supply Chain Services published in February 2023.


JP INTERMEDIATE: BlackRock DLC Marks $1.6MM Loan at 27% Off
-----------------------------------------------------------
BlackRock Direct Lending Corp has marked its $1,654,446 loan
extended to JP Intermediate B, LLC (Juice Plus) to market at
$1,212,709 or 73% of the outstanding amount, as of March 31, 2024,
according to a disclosure contained in BlackRock DLC's Form 10-Q
for the quarterly period ended March 31, 2024, filed with the U.S.
Securities and Exchange Commission.

BlackRock DLC is a participant in a First Lien Term Loan to JP
Intermediate B, LLC (Juice Plus). The loan accrues interest at a
rate of 11.07% (SOFR (Q) + 5.76%, 1% Floor) per annum. The loan
matures on November 20, 2025.

BlackRock DLC is a Delaware corporation formed on October 12, 2020
as an externally managed, closed-end, non-diversified management
investment company. The Company elected to be regulated as a
business development company under the Investment Company Act of
1940, as amended. The Company invests primarily in middle-market
companies headquartered in North America. The Company commenced
operations on November 30, 2020. BlackRock DLC's fiscal year ends
December 31.

JP Intermediate B, LLC retails vitamins and nutritional
supplements.



LAXMI CAPITAL: Seeks to Hire Laxmi Capital as Bankruptcy Counsel
----------------------------------------------------------------
Laxmi Capital, LLC seeks approval from the U.S. Bankruptcy Court
for the Central District of California to hire Leech Tishman
Fuscaldo & Lampl, Inc. as its general bankruptcy counsel.

The firm will provide these services:

     a. advise the Debtor as to the requirements of the Bankruptcy
Court, the Bankruptcy Code, FRBP, LBR, and the Office of the United
States Trustee as they pertain to the Debtor;

     b. advise the Debtor as to certain rights and remedies of its
bankruptcy estate and the rights, claims, and interests of
creditors and/or other parties in interest;

     c. advise and represent client with regard to the
administration of the Chapter 11 bankruptcy estate and duties of a
Debtor in Possession;

     d. file motions and other contested matters and assist in the
formulation and confirmation of a plan of reorganization;

     e. assist the Debtor with the negotiation, documentation, and
any necessary Court approval of transactions disposing of property
of the estate;

     f. represent the Debtor in any proceeding or hearing in the
Bankruptcy Court involving the bankruptcy estate unless the Debtor
is represented in such hearing or proceeding by special counsel;

     g. conduct examinations of witnesses, claimants and/or adverse
parties;

     h. prepare and assist the Debtor in preparation of reports,
applications, and pleadings, including but not limited to,
applications to employ professionals, interim statements and
operating reports, initial filing requirements, schedules,
statement of financial affairs, financing pleadings, and pleadings
with respect to the Debtor’s use, sale, or lease of property
outside the ordinary course of business;

     i. assist the Debtor in the negotiation, formulation,
preparation, and confirmation of a plan of reorganization and the
preparation and approval of a disclosure statement in connection
with the Plan;

     j. advise Debtor with respect to the assumption of any
unexpired leases or executory contracts; and

     k. perform any other services, which may be necessary and
appropriate in the representation of the Debtor during the
Bankruptcy Case; and

     l. represent the Debtor in such other matters as agreed to by
the Debtor and Leech Tishman in connection with the Bankruptcy
Case.

The firm will be paid at these rates:

     Partners       $335 to $825 per hour
     Counsel        $275 to $625 per hour
     Associates     $250 to $460 per hour
     Paralegals     $125 to $285 per hour

The firm received a retainer in the amount of $35,000.

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Sandford Frey, Esq., a partner at Leech Tishman Robinson Brog,
disclosed in court filings that his firm is a "disinterested
person" pursuant to Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Sandford L. Frey, Esq.
     Leech Tishman Robinson Brog, PLLC
     200 South Los Robles Avenue, Suite 300
     Pasadena, CA 91101
     Tel: (212) 603-6300
     Fax: (212) 956-2164
     Email: sfrey@leechtishman.com

           About Laxmi Capital

Laxmi Capital, LLC filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No.
24-10503) on Marcf 28, 2024, listing up to $50,000 in assets and $1
million to $10 million in liabilities. The petition was signed by
Dean Matthew as 100% Member and Manager of Laxmi Capital, LLC.

Judge Martin R Barash presides over the case.

Sandford L. Frey, Esq. at Leech Tishman Fuscaldo & Lampl, Inc.
represents the Debtor as counsel.


LAXMI CAPITAL: Taps Hayes & Welsh as Special Litigation Counsel
---------------------------------------------------------------
Laxmi Capital, LLC seeks approval from the U.S. Bankruptcy Court
for the Central District of California to hire Law Offices of Hayes
& Welsh as its special litigation counsel.

Hayes & Welsh will pursue Margaret Marie Murphy and the MMM Trust
for the approximately $5,000,000 due which recovery will be a
source of funding of the Debtor's plan.

Attorneys at Hayes presently charge between $380 to $425 per hour
for legal services.

The firm will receive a post-petition $5,000 retainer.

Hayes does not hold or represent any interest adverse to the Debtor
or its estate, according to court filings.

The firm can be reached through:

     Megan McHenry
     Law Offices of Hayes & Welsh
     199 North Arroyo Grande Boulevard, Suite 200
     Henderson, NV 89074
     Telephone: (702) 337-2055
     Facsimile: (702) 434-3739

             About Laxmi Capital

Laxmi Capital, LLC filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No.
24-10503) on Marcf 28, 2024, listing up to $50,000 in assets and $1
million to $10 million in liabilities. The petition was signed by
Dean Matthew as 100% Member and Manager of Laxmi Capital, LLC.

Judge Martin R Barash presides over the case.

Sandford L. Frey, Esq. at Leech Tishman Fuscaldo & Lampl, Inc.
represents the Debtor as counsel.



LEXARIA BIOSCIENCE: Stockholders Elect Six Directors
----------------------------------------------------
Lexaria Bioscience Corp. disclosed in a Form 8-K filed with the
Securities and Exchange Commission that on April 23, 2024, the
Company held its annual shareholder meeting at which the
shareholders elected Chris Bunka, John Docherty, Nicholas Baxter,
Ted McKechnie, Albert Reese Jr., Dr. Catherine Turkel as
directors.

The shareholders also ratified the appointment Malone Bailey LLP as
auditors and the lawful actions of the directors for the past
year.

                         About Lexaria

Lexaria Bioscience Corp. -- http://www.lexariabioscience.com-- is
a biotechnology company developing the enhancement of the
bioavailability of a broad range of fat-soluble active molecules
and active pharmaceutical ingredients using its patented
DehydraTECH drug delivery tecnnology.  DehydraTECH combines
lipophilic molecules or APIs with specific long-chain fatty acids
and carrier compounds that improve the way they enter the
bloodstream, increasing their effectiveness and allowing for lower
overall dosing while promoting healthier oral ingestion methods.

Lexaria Bioscience incurred a net loss of $6.71 million for the
year ended Aug. 31, 2023, a net loss of $7.38 million for the year
ended Aug. 31, 2022, a net loss and comprehensive loss of $4.19
million for the year ended Aug. 31, 2021, a net loss and
comprehensive loss of $4.08 million for the year ended Aug. 31,
2020, and a net loss and comprehensive loss of $4.16 million for
the year ended Aug. 31, 2019.

Lexaria said, "We expect to continue to incur significant
operational expenses and net losses in the upcoming 12 months.  Our
net losses may fluctuate significantly from quarter to quarter and
year to year, depending on the stage and complexity of our research
and development (R&D) studies and corporate expenditures,
additional revenues received from the licensing of our technology,
if any, and the receipt of payments under any current or future
collaborations we may enter into.  The recurring losses and
negative net cash flows raise substantial doubt as to the Company's
ability to continue as a going concern."


LIVEONE INC: Anticipates Certain Record Q4 and FY24 Results
-----------------------------------------------------------
   - FY24: Expects $118.5M revenue, $14.4M Adjusted EBITDA*
    (excluding $3.5M CPS division loss)

   - Q4 FY24: Expects $30.3M revenue, $4.3M Adjusted EBITDA*
    (excluding $1.6M CPS loss)

   - LVO Anticipates Completing CPS restructuring adding $3M
     Adjusted EBITDA* in FY25

   - Maintains FY25 guidance: $140M-$155M revenue and $16M-$20M
     Adjusted EBITDA*

   - Audio Division FY25 guidance: $130M-$140M revenue, $20M-$25M

     Adjusted EBITDA* and $17M+ positive cash flow

   - Repurchased ~4M shares since program inception, with $5M
     remaining dedicated for continued repurchases

   - $10.6M current cash position

   - Senior Management Will Host a Live Conference Call and Audio
     Webcast Beginning at 10:00 A.M. ET on Thursday, May 30, 2024

LiveOne announced certain of its preliminary and unaudited results
for the fourth quarter and fiscal year ended March 31, 2024.

Robert Ellin, CEO: "LiveOne had an exceptional year, with strong
revenue growth in both subscription and sponsorship.  We've
strengthened our balance sheet by converting all debt to equity at
$2.1 per share and maintaining a cash position of close to $11
million.

"LiveOne is poised for 30%+ revenue growth after closing a $20
million+ B2B partnership, adding over 30 podcasts, and seeing
subscriptions surge to 3.7 million, led by Tesla.  Our publishing
subsidiary has grown 300%, celebrity brands possesses huge revenue
potential, we are witnessing a resurgence in demand for live
streaming and pay-per-view, and our scripted hit podcasts, such as
Vigilante and Varnamtown, have sparked unprecedented studio
interest.

"LiveOne will remain aggressive on our share buyback program as we
believe our stock remains undervalued and continue to focus on
delivering results for our shareholders."

The select anticipated financial results discussed in this press
release are based on management's preliminary unaudited analysis of
financial results Q2 Fiscal 2024.  As of April 22, 2024 (the date
of this press release), LiveOne has not completed its financial
statement reporting process for Q4 Fiscal 2024 and Fiscal 2024, and
LiveOne's independent registered accounting firm has not audited
the preliminary financial results discussed in this press release.
During the course of LiveOne's quarter-end and fiscal year-end
closing procedures and review process, LiveOne may identify items
that would require it to make adjustments, which may be material,
to the information presented above.  The estimated preliminary
unaudited financial results contained in this press release are
based only on currently available information as of April 22, 2024.
As a result, the estimates above constitute forward-looking
information and are subject to risks and uncertainties, including
possible adjustments to preliminary financial results, and are not
guarantees of future performance and may differ from actual
results.

                           About LiveOne

Headquartered in Los Angeles, California, LiveOne, Inc. (NASDAQ:
LVO) (formerly known as LiveXLive Media, Inc.) is a creator-first,
music, entertainment and technology platform focused on delivering
premium experiences and content worldwide through memberships and
live and virtual events.

LiveOne reported a net loss of $10.02 million for the year ended
March 31, 2023, compared to a net loss of $43.91 million for the
year ended March 31, 2022. As of Dec. 31, 2023, the Company had
$65.83 million in total assets, $56.64 million in total
liabilities, $4.93 million in mezzanine equity, and $4.25 million
in total equity.

The Company has a history of losses and incurred a net loss of
$10.7 million for the nine months ended December 31, 2023, and cash
provided by operating activities of $3.8 million for the nine
months ended December 31, 2023, and had a working capital
deficiency of $21.5 million as of December 31, 2023.  These
factors, among others, raise substantial doubt about the Company's
ability to continue as a going concern, according to the Company's
10-Q Report for the quarterly period ended Dec. 31, 2023.


LUCKY PENNY: Wins Interim Cash Collateral Access Thru June 13
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida,
Orlando Division, authorized The Lucky Penny Collectables LLC to
use cash collateral, on an interim basis, in accordance with the
budget, through June 13, 2024.

The Debtor is authorized to use cash collateral to pay: (a) amounts
expressly authorized by the Court, including payments to the
Subchapter V Trustee and payroll obligations incurred post-petition
in the ordinary course of business; (b) the current and necessary
expenses set forth in the budget, plus an amount not to exceed 10%
for each line item; and (c) additional amounts as may be expressly
approved in writing by Fee Service.

The Secured Creditors will have a perfected post-petition lien
against cash collateral to the same extent and with the same
validity and priority as the prepetition lien, without the need to
file or execute any documents as may otherwise be required under
applicable non-bankruptcy law.

The Debtor will maintain insurance coverage for its property in
accordance with the obligations under all applicable loan and
security documents.

A continued hearing on the matter is set for June 13 at 1:45 p.m.

A copy of the court's order and the Debtor's budget is available at
https://urlcurt.com/u?l=ePGgp5 from PacerMonitor.com.

The Debtor projects total expenses, on a weekly basis, as follows:

         $7,000 for the week ending May 17, 2024;
       $13,066 for the week ending May 24, 2024; and
         $6,000 for the week ending May 31, 2024.

             About The Lucky Penny Collectables, LLC

The Lucky Penny Collectables, LLC operates online retails stores on
Amazon an Ebay which specialize in the sale of Disney and Universal
Studios branded items.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Fla. Case No. 6:24-bk-00574-TPG) on
February 6, 2024. In the petition signed by Gabriele Frontini,
managing member, the Debtor disclosed up to $100,000 in total
assets and $1 million in total liabilities.

Judge Tiffany P. Geyer oversees the case.

Daniel A. Velasquez, Esq., at Latham Luna Eden & Beaudine LLP,
represents the Debtor as legal counsel.


MADISON TECHNOLOGIES: Incurs $1.1 Million Net Loss in Q2 2023
-------------------------------------------------------------
Madison Technologies Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q reporting a net loss
and comprehensive loss of $1.08 million on $0 of revenues for the
three months ended June 30, 2023, compared to a net loss and
comprehensive loss of $2.53 million on $0 of revenues for the three
months ended June 30, 2022.

For the six months ended June 30, 2023, the Company reported a net
loss and comprehensive loss of $11.85 million on $0 of revenues,
compared to a net loss and comprehensive loss of $5.07 million on
$0 of revenues for the six months ended June 30, 2022.

As of June 30, 2023, the Company had $0 in total assets, $28.58
million in total current liabilities, and a total stockholders'
deficit of $28.58 million.

Madison stated, "For the year ended December 31, 2022, we generated
no revenues from continuing operations, incurred a net loss of
$13,139,810 and as of December 31, 2022, had a working capital
deficit and an accumulated deficit of $13,860,314 and $28,886,831,
respectively.  It is management's opinion that these matters raise
substantial doubt about our ability to continue as a going concern
for a period of twelve months from the issuance date of this
report. Our ability to continue as a going concern is dependent
upon management's ability to raise additional capital as needed
from the sales of stock or debt and further implement our business
plan.  The accompanying condensed consolidated financial statements
do not include any adjustments that might be required should we be
unable to continue as a going concern."

A full-text copy of the Form 10-Q is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001318268/000175392624000929/g084188_10q.htm

                      About Madison Technologies

Headquartered in Purchase, NY, Madison Technologies Inc. is seeking
to create, develop and launch BlockchainTV ("BCTV"), the
first-to-market 24/7 television broadcast and streaming
communications network designed to bring the most up-to-date
cryptocurrency information and entertainment to the masses in the
U.S. and around the world.


MAGENTA BUYER: BlackRock BDEBT Marks $2.5MM Loan at 40% Off
-----------------------------------------------------------
BlackRock Private Credit Fund ("BDEBT") has marked its $2,456,030
loan extended to Magenta Buyer, LLC (McAfee) to market at
$1,473,618 or 60% of the outstanding amount, as of March 31, 2024,
according to a disclosure contained in BDEBT's Form 10-Q for the
quarterly period ended March 31, 2024, filed with the U.S.
Securities and Exchange Commission.

BDEBT is a participant in a First Lien Term Loan to Magenta Buyer,
LLC (McAfee). The loan accrues interest at a rate of 10.57 (SOFR
(Q) + 5.26%, .75% Floor) per annum. The loan matures on July 27,
2028.

BDEBT is a Delaware statutory trust formed on December 23, 2021.
BDEBT is a non-diversified, closed-end management investment
company that has elected to be regulated as a business development
company under the Investment Company Act of 1940. BDEBT is
externally managed by BlackRock Capital Investment Advisors, LLC.
BlackRock Advisors, LLC serves as the sub-adviser. The Advisers are
subsidiaries of BlackRock, Inc. BlackRock Financial Management,
Inc. serves as the administrator, and is affiliated with the
Advisers. BDEBT's fiscal year ends December 31.

Magenta Buyer LLC is a provider of cybersecurity software that
derives revenue from the sale of security products, subscriptions,
SaaS, support and maintenance, and professional services.



MAGENTA BUYER: BlackRock BDEBT Marks $839,385 Loan at 37% Off
-------------------------------------------------------------
BlackRock Private Credit Fund ("BDEBT") has marked its $839,385
loan extended to Magenta Buyer, LLC (McAfee) to market at $527,415
or 63% of the outstanding amount, as of March 31, 2024, according
to a disclosure contained in BDEBT's Form 10-Q for the quarterly
period ended March 31, 2024, filed with the U.S. Securities and
Exchange Commission.

BDEBT is a participant in a First Lien Incremental Term Loan to
Magenta Buyer, LLC (McAfee). The loan accrues interest at a rate of
12% (Fixed 12% floor) per annum. The loan matures on July 27,
2028.

BDEBT is a Delaware statutory trust formed on December 23, 2021.
BDEBT is a non-diversified, closed-end management investment
company that has elected to be regulated as a business development
company under the Investment Company Act of 1940. BDEBT is
externally managed by BlackRock Capital Investment Advisors, LLC.
BlackRock Advisors, LLC serves as the sub-adviser. The Advisers are
subsidiaries of BlackRock, Inc. BlackRock Financial Management,
Inc. serves as the administrator, and is affiliated with the
Advisers. BDEBT's fiscal year ends December 31.

Magenta Buyer LLC is a provider of cybersecurity software that
derives revenue from the sale of security products, subscriptions,
SaaS, support and maintenance, and professional services.


MAGENTA BUYER: BlackRock DLC Marks $3MM Loan at 70% Off
-------------------------------------------------------
BlackRock Direct Lending Corp has marked its $3,000,000 loan
extended to Magenta Buyer, LLC (McAfee) to market at $904,995 or
30% of the outstanding amount, as of March 31, 2024, according to a
disclosure contained in BlackRock DLC's Form 10-Q for the quarterly
period ended March 31, 2024, filed with the U.S. Securities and
Exchange Commission.

BlackRock DLC is a participant in a Second Lien Term Loan to
Magenta Buyer. The loan accrues interest at a rate of 13.82% (SOFR
(Q) + 8.51%, 0.75% Floor) per annum. The loan matures on July 27,
2029.

BlackRock DLC is a Delaware corporation formed on October 12, 2020
as an externally managed, closed-end, non-diversified management
investment company. The Company elected to be regulated as a
business development company under the Investment Company Act of
1940, as amended. The Company invests primarily in middle-market
companies headquartered in North America. The Company commenced
operations on November 30, 2020. BlackRock DLC's fiscal year ends
December 31.

Magenta Buyer LLC is a provider of cybersecurity software that
derives revenue from the sale of security products, subscriptions,
SaaS, support and maintenance, and professional services.



MAGENTA BUYER: BlackRock DLC Marks $589,785 Loan at 37% Off
-----------------------------------------------------------
BlackRock Direct Lending Corp has marked its $589,785 loan extended
to Magenta Buyer, LLC (McAfee) to market at $370,583 or 63% of the
outstanding amount, as of March 31, 2024, according to a disclosure
contained in BlackRock DLC's Form 10-Q for the quarterly period
ended March 31, 2024, filed with the U.S. Securities and Exchange
Commission.

BlackRock DLC is a participant in a First Lien Incremental Term
Loan to Magenta Buyer, LLC (McAfee). The loan accrues interest at a
rate of 12% (Fixed 12%) per annum. The loan matures on July 27,
2028.

BlackRock DLC is a Delaware corporation formed on October 12, 2020
as an externally managed, closed-end, non-diversified management
investment company. The Company elected to be regulated as a
business development company under the Investment Company Act of
1940, as amended. The Company invests primarily in middle-market
companies headquartered in North America. The Company commenced
operations on November 30, 2020. BlackRock DLC's fiscal year ends
December 31.

Magenta Buyer LLC is a provider of cybersecurity software that
derives revenue from the sale of security products, subscriptions,
SaaS, support and maintenance, and professional services.




MGT CAPITAL: Incurs $6.1 Million Net Loss in 2023
-------------------------------------------------
MGT Capital Investments, Inc. filed with the Securities and
Exchange Commission its Annual Report on Form 10-K reporting a net
loss of $6.13 million on $399,000 of total revenue for the year
ended Dec. 31, 2023, compared to a net loss of $5.98 million on
$809,000 of total revenue for the year ended Dec. 31, 2022.

As of Dec. 31, 2023, the Company had $932,000 in total assets,
$9.79 million in total liabilities, and a total stockholders'
deficit of $8.86 million.

Las Vegas, Nevada-based RBSM LLP, the Company's auditor since 2017,
issued a "going concern" qualification in its report dated April
16, 2024, citing that the Company has suffered recurring losses
from operations and will require additional capital to continue as
a going concern.  This raises substantial doubt about the Company's
ability to continue as a going concern.

A full-text copy of the Form 10-K is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/1001601/000149315224014891/form10-k.htm

                            About MGT

MGT Capital Investments, Inc. -- www.mgtci.com -- conducts
cryptocurrency activities at a company-owned and managed Bitcoin
mining facility in LaFayette, Georgia.  Located adjacent to a
utility substation, the several-acre property has access to about
20 megawatts (MW) of electrical power, half of which is presently
utilized by the Company.  Business activities are comprised of
self-mining operations and leasing space to third parties.


MILLENKAMP CATTLE: Grimshaw Law Represents Corn Silage Growers
--------------------------------------------------------------
In the Chapter 11 cases of Millenkamp Cattle, Inc., and affiliates,
the Ad Hoc Committee of Corn Silage Growers filed a verified
statement pursuant to Rule 2019 of the Federal Rules of Bankruptcy
Procedure.

The Corn Silage Growers formed the existing group in approximately
January 2024 and jointly commenced a lawsuit against one or more of
the Debtors ("State Court Action"). The State Court action was
assigned Case No. CV27-24-00122. Ultimately, the Corn Silage
Growers obtained injunctive relief, precluding the Debtors from
using the Corn Silage Growers' collateral without their consent and
payment.

In these chapter 11 cases, the Corn Silage Growers are represented
by Grimshaw Law Group, P.C.

The names, addresses, and disclosable economic interests of all the
members of the Ad Hoc Committee of Corn Silage Growers, are as
follows:

1. Ed Chojnacky
   298 N 100 W
   Jerome, ID 83338
   * $312,330.00

2. Michael Chojnacky
   51 W 600 N
   Jerome, ID 83338
   * $393,753.60

3. Dusty Brow Farms, Inc.
   2601 E 1100 S
   Hazelton, ID 83335
   * $245,000.00

4. Grant 4-D Farms, LLC
   707 E 600 N
   Rupert, ID 83350
   * $396,601.71

5. Grant & Hagan, Inc.
   P.O. Box 326
   Hazelton, ID 83335
   * $604,551.60

6. Douglas J. Grant
   2050 E 500 S
   Hazelton, ID 83335
   * $222,617.06

7. Hollifield Ranches, Inc.
   22866 Highway 30
   Hansen, ID 83334
   * $2,044,794.31

8. Standing 16 Ranch Land Company, LLC
   335 W 300 N
   Jerome, ID 83338
   * $526,454.40

9. Steel Ranch LLC
   3597 E 1100 S
   Hazelton, ID 83335
   * $160,000.00

10. Bo Stevenson dba B&A Farms
   1001 S 1900 E
   Hazelton, ID 83335
   * $195,478.80

11. Alexander K. Reed
   4296 N 2100 E
   Filer, ID 83328
   * $130,674.66

12. Triple C Farms, L.L.C.
   474 S 500 W
   Jerome, ID 83338
   * $1,011,955.80

13. Clint D. Thompson
   298 N 200 W
   Jerome, ID 83338
   * $49,000.00

14. Jean L. Thompson
   225 N 250 W
   Jerome, ID 83338
   * $38,000.00

Attorneys for the Ad Hoc Committee of Corn Silage Growers:

     Matthew W. Grimshaw, Esq.
     GRIMSHAW LAW GROUP, P.C.
     800 W. Main Street, Ste. 1460
     Boise, Idaho 83702
     Phone: (208) 391-7860
     Email: matt@grimshawlawgroup.com

                      About Millenkamp Cattle

Millenkamp Cattle Inc. is part of a family-owned agriculture
business that can produce more than one million pounds of milk per
day.

Millenkamp Cattle Inc. and several affiliated entities sought
relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.
Idaho Lead Case No. 24-40158) on April 2, 2024. In the petition
filed by William J. Millenkamp, as manager, Millenkamp Cattle
estimated assets between $10 million and $50 million and estimated
liabilities between $500 million and $1 billion.

The Hon. Bankruptcy Judge Noah G. Hillen oversees the case.

The Debtor is represented by Matthew T. Christensen, Esq., at
Johnson May, PLLC.


MILLENKAMP CATTLE: Hires Gale W. Harding as Equipment Appraiser
---------------------------------------------------------------
Millenkamp Cattle Inc. seeks approval from the U.S. Bankruptcy
Court for the Western District of Virginia to hire Gale W. Harding
and Associates as equipment appraiser.

The firm will assist the Debtors involving the appraisal of their
equipment as well as testify as to the appraisal and Debtors'
equipment.

Harding and Associates will charge a flat fee of $3,400 for the
appraisal.

Harding and Associates is a "disinterested person" as that term is
defined in Bankruptcy Code section 101(14).

The firm can be reached through:

     Gale W. Harding
     Gale W. Harding and Associates
     329 W 7TH South
     Rexburg, ID 83440
     Phone: (208) 351-3191

          About Millenkamp Cattle

Millenkamp Cattle Inc., part of a family-owned agriculture business
that can produce more than 1 million pounds of milk per day.

Millenkamp Cattle Inc. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Idaho Case No. 24-40158) on April 2,
2024. In the petition filed by William J. Millenkamp, as manager,
the Debtor estimated assets between $10 million and $50 million and
estimated liabilities between $500 million and $1 billion.

The Honorable Bankruptcy Judge Noah G Hillen oversees the case.

The Debtor is represented by Matthew T. Christensen, Esq. at
Johnson May, PLLC.


MONEYGRAM INTERNATIONAL: Fitch Affirms 'B' IDR, Outlook Stable
--------------------------------------------------------------
Fitch Ratings has affirmed MoneyGram International, Inc.'s
Long-Term Issuer Default Rating (IDR) at 'B'. The Rating Outlook is
Stable. Fitch has also affirmed the 'B+'/'RR3' ratings on the
company's revolver, term loan and 1L secured bonds.

MoneyGram's ratings reflect its established position in retail
cross-border money transfers, as well as the expansion of its
digital business. The ratings also consider the company's reliance
on money transfer services relative to more diversified and
higher-rated Fintech peers, along with MoneyGram's smaller scale
and lower cash flow profitability. The ratings also reflect Fitch's
expectations that the company will maintain EBITDA leverage within
the established sensitivities in the 4x-5x range.

KEY RATING DRIVERS

Stable Performance: MoneyGram's revenue increased 10% in 2023,
following a 2% rise in 2022. The majority of this growth can be
attributed to the company's digital business. Growth in this
segment has reversed the revenue decline that occurred after the
termination of MoneyGram's exclusive agreement with Walmart.
Improved digital performance is trending across the fintech sector;
an increased number of consumers rapidly embraced digital money
transfer services at the start of the pandemic and have continued
to use them.

Digital transactions represented just over half of MoneyGram's
money-transfer operations and accounted for nearly 40% of its total
revenue. This segment should continue to deliver solid growth for
the next several years, which should help offset the flat to
moderately declining retail cash transfer business, and could
provide margin expansion.

Competitive Industry: Money transfer is a competitive industry and
tech-focused platforms such as Xoom, Venmo, Remitly and Wise are
challenging MoneyGram's various corridors globally. Fitch believes
there is a lag in certain international corridors, which
underscores the advantage of having a large agent network capable
of sending and receiving in-cash transactions. MoneyGram was slow
to adapt to digital transfers, which allowed entrants to quickly
capture market share. MoneyGram is actively improving its digital
competitive stance by channeling resources to grow its digital
presence, expanding its services through mobile wallets and
online/mobile deposits.

Leverage Expected Within Sensitivities: Fitch expects EBITDA
leverage to be in the 4.5x range in 2024 from slightly above 5x in
2023. The declining leverage is driven by an increase in EBITDA
generation mainly due to increased revenue from recent partnerships
agreements and increased revenue originated from direct-to-consumer
transactions. Higher EBITDA also reflects various cost saving
initiatives implemented during 2H23. Projected deleveraging is in
line with Fitch's prior expectations set out at the time Fitch
assigned MoneyGram's ratings. Fitch forecasts interest coverage in
2024 and 2025 at roughly 2.5x.

DOJ and FTC Issues Resolved: The conclusion of the regulatory
investigation by the U.S. Department of Justice (DOJ) was credit
positive for MoneyGram, both in terms of reduced liquidity
pressures and reduced event risk. The company was involved in a
deferred prosecution agreement with the DOJ beginning in 2012,
which significantly increased compliance costs and required large
settlement payments meant to compensate victims of consumer fraud.

MoneyGram was required to retain an independent compliance monitor
until May 2021, provide regular reporting to the DOJ, and appoint
an external consulting firm to ensure the company met its legal
duties. While the investigation's conclusion does not completely
eliminate all fraud and litigation risk, Fitch believes MoneyGram
is in a better position to manage these risks.

Partner Diversification: MoneyGram previously had an exclusive
partnership with Walmart that included a white label service known
as Walmart2World, powered by MoneyGram. This service allowed
customers to send money from any U.S. Walmart to any International
MoneyGram location. Western Union was introduced in early 2021 as a
Walmart partner, and other competing banking services were also
made available. This change eliminated MoneyGram's exclusivity
advantage, resulting in a significant revenue decline at that
time.

MoneyGram has since expanded its partner network in international
markets. This strategy, combined with Walmart now representing a
much smaller percentage of MoneyGram's overall revenue base, has
increased diversification and should lead to a more stable revenue
stream.

DERIVATION SUMMARY

Fitch considers MoneyGram's ratings relative to a range of FinTech
and Services & Technology issuers across the ratings spectrum.

The company is smaller than the investment-grade issuers in this
sector, such as PayPal Holdings, Inc. (A-/Stable), The Western
Union Company and Euronet Worldwide, Inc. (BBB/Stable). MoneyGram
is also less diversified with more than 90% of its revenue coming
from money transfer services. These factors will continue to
constrain the rating unless the company diversifies its revenue
base.

Boost Newco Borrower, LLC (dba Worldpay; BB/Stable), has a similar
leverage profile but has much larger scale, a potentially stronger
growth profile over time, and lower compliance risk versus the
remittance industry.

MoneyGram has good brand recognition and sufficient scale to
provide credit protection. Key metrics of scale, EBITDA margin and
leverage position the company below its peers. Most of the
company's operating metrics are solid with FCF as a notable
exception. Fitch believes the 'B' IDR captures the company's scale,
competitive and technology risks, growth profile, and leverage
relative to other other Fitch-rated peers.

KEY ASSUMPTIONS

- Modest revenue grows mid to high-single digits in 2024 low-to-mid
single digits in subsequent years;

- EBITDA expands in 2024 due to cost savings program and growing
digital revenue and expands more modestly in subsequent years;

- Benchmark interest rates of around 5.5% in 2024, 4.5% in 2025 and
4.0% in 2026;

- Capex of around 4% of revenue;

- Positive FCF margin in the low single-digit range over the rating
horizon.

RECOVERY ANALYSIS

KEY RECOVERY RATING ASSUMPTIONS

- The recovery analysis assumes that MoneyGram would be reorganized
as a going-concern in bankruptcy rather than liquidated.

- Fitch assumed a 10% administrative claim and that the revolver is
drawn in full.

Going-Concern (GC) Approach

- A bankruptcy scenario could occur if MoneyGram faced some
combination of intense competitive pressure across its money
transfer businesses which reduce revenue and margins to a point
that it becomes difficult for the company to service its
obligations and continue to execute its business plan. In this
scenario, Fitch assumes MoneyGram's GC EBITDA to fall to around
USD125 million;

- The GC EBITDA estimate reflects Fitch's view of a sustainable,
post-reorganization EBITDA level upon which Fitch bases the
enterprise valuation.

- An EV multiple of 5.5x EBITDA is applied to the GC EBITDA to
calculate a post-reorganization enterprise value. The choice of
this multiple considered the following factors:

- The historical bankruptcy case study exit multiples for
technology, media and telecom companies ranged primarily from
4.0x-7.0x with a median of 5.9x and a median of 5.1x in a small
sample of technology sector bankruptcies.

RATING SENSITIVITIES

Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade

- Demonstration of material diversification by achieving scale in
one or more of the company's adjacent financial products as well as
continued strong growth from the company's online offerings

- EBITDA leverage sustained below 4.0x

Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade

- Any revenue contraction or erosion of operating performance,
leading to margin contraction or negative FCF;

- EBITDA leverage sustained above 5.0x;

- Any material fraud or related litigation and regulatory actions.

LIQUIDITY AND DEBT STRUCTURE

Adequate Liquidity: MoneyGram's liquidity is supported by a $185
million cash balance and an undrawn $150 million revolving credit
facility, as of March 31, 2024. Fitch expects the company to be
modestly positive FCF over the coming years, alleviating the
company's moderate FCF volatility in the past, which has led to
negative FCF at times. The company does not have significant debt
maturities over the next several years. EBITDA Interest coverage is
forecast at around 2.5x in 2024 and 2025.

Debt structure: MoneyGram's capital structure includes senior
secured debt, comprising $398 million in term loans and $500
million in notes, both set to mature in 2030. Additionally, there
is a $150 million senior secured revolving credit facility that is
due in 2028.

Fitch includes $102 million of secured debt at a holding company
that is outside of restricted group of MoneyGram's secured debt.
The holding company debt is serviced by the operational cash flow
of MoneyGram and is due in 2028, before the rated debt. It is
partially paid in cash and includes a pay-in-kind (PIK) feature.

ISSUER PROFILE

MoneyGram International Inc. is a global leader in cross-border
peer to peer payments and money transfers. Its transactions can be
sent or received through any one of its more than 450,000 agent
locations around the globe or through digital means such as
MoneyGram's mobile app or website.

ESG CONSIDERATIONS

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.

   Entity/Debt              Rating       Recovery   Prior
   -----------              ------       --------   -----
MoneyGram
International, Inc.   LT IDR B  Affirmed            B

   senior secured     LT     B+ Affirmed   RR3      B+


NEP GROUP: BlackRock DLC Marks $130,856 Loan at 18% Off
-------------------------------------------------------
BlackRock Direct Lending Corp has marked its $130,856 loan extended
to NEP Group, Inc. et al. to market at $106,784 or 82% of the
outstanding amount, as of March 31, 2024, according to a disclosure
contained in BlackRock DLC's Form 10-Q for the quarterly period
ended March 31, 2024, filed with the U.S. Securities and Exchange
Commission.

BlackRock DLC is a participant in a Second Lien Term Loan to NEP
Group, et al. The loan accrues interest at a rate of 12.44% (SOFR
(M) + 7.11%) per annum. The loan matures on October 19, 2026.

BlackRock DLC is a Delaware corporation formed on October 12, 2020
as an externally managed, closed-end, non-diversified management
investment company. The Company elected to be regulated as a
business development company under the Investment Company Act of
1940, as amended. The Company invests primarily in middle-market
companies headquartered in North America. The Company commenced
operations on November 30, 2020. BlackRock DLC's fiscal year ends
December 31.

NEP Group Inc provides broadcasting services. The Company is a
supplier to broad spectrum of content across both sports and
entertainment. The Company offers outside broadcast, studio
production, audio, lighting and media management services.



NORTHWEST BIOTHERAPEUTICS: Secures $11M Funding From Streeterville
------------------------------------------------------------------
Northwest Biotherapeutics, Inc. disclosed in a Form 8-K filed with
the Securities and Exchange Commission that on April 26, 2024, it
entered into a Commercial Loan Agreement and Note with
Streeterville Capital, LLC in the amount of $11,005,000.  The Loan
Agreement has a maturity of 22 months.  Repayments do not start
until Dec. 26, 2024.

Following Dec. 26, 2024, the Loan Agreement will be amortized in 14
equal monthly installments of principal at 110% of the pro rata
amount, plus accrued interest.  Interest on the Loan Agreement
accrues at a rate of 8% per annum, and the Loan Agreement includes
an original issue discount of ten percent.  The Loan Agreement
allows pre-payment at any time at the Company's election.  If the
Company elects to pre-pay, the pre-payment would include a 10%
charge.  The Loan Agreement contains customary default provisions,
including for potential acceleration.

The funds will be used for the Company's ongoing business
operations, including beginning initial construction works for the
first grade C lab in the Company's Sawston, UK facility, ordering
certain initial long lead-time equipment for the first grade C lab,
and facility preparations for delivery of the initial GMP units of
the Flaskworks system.

                   About Northwest Biotherapeutics

Bethesda, MD-Based Northwest Biotherapeutics, Inc. is a
biotechnology company focused on developing personalized immune
therapies for cancer.

Tampa, Florida-based Cherry Bekaert LLP, the Company's auditor
since 2021, issued a "going concern" qualification in its report
dated March 5, 2024, citing that the Company has recurring losses
and negative cash flows from operations that raise substantial
doubt about its ability to continue as a going concern.


NUWELLIS INC: Incurs $4.3 Million Net Loss in First Quarter
-----------------------------------------------------------
Nuwellis, Inc., filed with the Securities and Exchange Commission
its Quarterly Report on Form 10-Q reporting a net loss of $4.33
million on $1.86 million of net sales for the three months ended
March 31, 2024, compared to a net loss of $6.48 million on $1.83
million of net sales for the three months ended March 31, 2023.

As of March 31, 2024, the Company had $6.66 million in total
assets, $5.77 million in total liabilities, and $885,000 in total
stockholders' equity.

During the years ended Dec. 31, 2023 and 2022 and through March 31,
2024, the Company incurred losses from operations and net cash
outflows from operating activities as disclosed in the consolidated
statements of operations and cash flows, respectively.  As of March
31, 2024, the Company had an accumulated deficit of $292.0 million
and it expects to incur losses for the immediate future.  To date,
the Company has been funded by equity financings, and although the
Company believes that it will be able to successfully fund its
operations, there can be no assurance that it will be able to do so
or that it will ever operate profitably.  The Company said these
factors raise substantial doubt about its ability to continue as a
going concern through the next twelve months from the date of this
Form 10-Q filing.

A full-text copy of the Form 10-Q is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/1506492/000114036124024996/ef20026284_10q.htm

                      About Nuwellis, Inc.

Headquartered in Eden Prairie, Minnesota, Nuwellis, Inc. --
www.nuwellis.com -- is a medical technology company dedicated to
transforming the lives of patients suffering from fluid overload
through science, collaboration, and innovative technology.  The
company is focused on developing, manufacturing, and
commercializing medical devices used in ultrafiltration therapy,
including the Aquadex FlexFlow and the Aquadex SmartFlow systems.
The Aquadex SmartFlow system is indicated for temporary (up to
eight hours) or extended (longer than 8 hours in patients who
require hospitalization) use in adult and pediatric patients
weighing 20 kg or more whose fluid overload is unresponsive to
medical management, including diuretics.

Minneapolis, Minnesota-based Baker Tilly US, LLP, the Company's
auditor since 2017, issued a "going concern" qualification in its
report dated March 11, 2024, citing that the Company has recurring
losses from operations, an accumulated deficit, expects to incur
losses for the foreseeable future and needs additional working
capital.  These are the reasons that raise substantial doubt about
its ability to continue as a going concern.


NUZEE INC: CFO, COO Weaver Gets $325K Salary Under Amended Contract
-------------------------------------------------------------------
NuZee, Inc. disclosed in a Form 8-K filed with the Securities and
Exchange Commission that on April 26, 2024, the Company and Randell
Weaver, president, chief financial officer, and chief operating
officer of the Company, entered into an Amended and Restated
Employment Agreement.  The First Amended and Restated Employment
Agreement amends and restates, and replaces in its entirety, the
Employment Agreement between the Company and Mr. Weaver that was
effective as of Aug. 16, 2023.  In accordance with terms of the
Original Employment Agreement, the Company's Board of Directors
unanimously approved the First Amended and Restated Employment
Agreement upon the recommendation of the Compensation Committee of
the Board.

Pursuant to the First Amended and Restated Employment Agreement,
among other things, (a) Mr. Weaver holds the offices of both chief
financial officer and chief operating officer of the Company, (b)
Mr. Weaver's annual base salary will be increased to $325,000, (c)
Mr. Weaver will be eligible to receive a one-time cash bonus, minus
all applicable withholdings and deductions, equal to the difference
between (i) Mr. Weaver's aggregate Base Salary actually paid
between Dec. 6, 2023 and April 26, 2024 and (ii) Mr. Weaver's
aggregate Base Salary had the Increased Base Salary been in effect
through the Bonus Measurement Period, and (d) Mr. Weaver will be
eligible to receive additional restricted shares of the Company
upon the occurrence of a Company liquidity event.  Such Restricted
Shares will be equal to 2.5% equity in the Company at the price of
such Company liquidity event.

                             About NuZee

NuZee, Inc. (d/b/a Coffee Blenders) is a co-packing company for
single serve coffee formats that partners with companies to help
them develop within the single serve and private label coffee
category.

Nuzee reported a net loss of $8.75 million for the year ended Sept.
30, 2023, a net loss of $11.80 million for the year ended Sept. 30,
2022, a net loss of $18.55 million for the year ended Sept. 30,
2021, a net loss of $9.52 million for the year ended Sept. 30,
2020, and a net loss of $12.21 million for the year ended Sept. 30,
2019.

Houston, Texas-based MaloneBailey, LLP, the Company's auditor since
2013, issued a "going concern" qualification in its report dated
Jan. 16, 2024, citing that the Company has suffered recurring
losses and negative cash flows from operations that raises
substantial doubt about its ability to continue as a going concern.


OUTLOOK THERAPEUTICS: Changes Headquarters to 111 S. Wood Avenue
----------------------------------------------------------------
Outlook Therapeutics, Inc. disclosed in a Form 8-K filed with the
Securities and Exchange Commission that effective May 1, 2024, it
moved its headquarters to 111 S. Wood Avenue, Unit #100, Iselin, NJ
08830.  The Company's telephone number remains the same, phone:
(609) 619-3990.

                     About Outlook Therapeutics
   
Outlook Therapeutics, Inc., formerly known as Oncobiologics, Inc.
-- http://www.outlooktherapeutics.com-- is a biopharmaceutical
company working to launch the first ophthalmic formulation of
bevacizumab approved by the U.S. Food and Drug Administration for
use in retinal indications.  The Company's goal is to launch
directly in the United States as the first and only approved
ophthalmic bevacizumab for the treatment of wet age-related macular
degeneration, or wet AMD, diabetic macular edema, or DME, and
branch retinal vein occlusion, or BRVO.  The Company's plans also
include seeking approval and launching the product in the United
Kingdom, Europe, Japan and other markets, either directly or
through a strategic partner.  If approved, the Company expects to
receive 12 years of regulatory exclusivity in the United States and
up to 10 years of market exclusivity in the European Union.

Outlook Therapeutics incurred a net loss of $58.98 million for the
year ended Sept. 30, 2023, compared to a net loss of $66.05 for the
year ended Sept. 30, 2022.  As of Sept. 30, 2023, the Company had
$32.30 million in total assets, $46.74 million in total
liabilities, and a total stockholders' deficit of $14.44 million.

Philadelphia, Pennsylvania-based KPMG LLP, the Company's auditor
since 2015, issued a "going concern" qualification in its report
dated Dec. 22, 2023, citing that the Company has incurred recurring
losses and negative cash flows from operations and has an
accumulated deficit that raise substantial doubt about its ability
to continue as a going concern.

The Company has incurred recurring losses and negative cash flows
from operations since its inception and has an accumulated deficit
of $479,096,425 as of Dec. 31, 2023. As of Dec. 31, 2023, the
Company had $37,666,716 of principal, accrued interest and exit
fees due under an unsecured convertible promissory note issued in
December 2022, maturing on April 1, 2024.  As a result, the Company
said, there is substantial doubt about the Company's ability to
continue as a going concern.


OUTLOOK THERAPEUTICS: Registers 2.8M Shares for Possible Resale
---------------------------------------------------------------
Outlook Therapeutics, Inc. filed a Form S-3 registration statement
with the Securities and Exchange Commission in connection with the
offer and resale by Syntone Ventures LLC, the selling stockholder,
of up to an aggregate of 2,776,867 shares of the Company's common
stock, which consists of (i) 800,000 shares of the Company's common
stock held by the selling stockholder that were issued by the
Company at the closing of a private placement on June 2, 2020 (as
adjusted for a 1-for-20 reverse stock split that the Company
effected in March 2024, or the Reverse Stock Split), (ii) 41,152
shares of the Company's common stock held by the selling
stockholder that were issued by the Company at the closing of a
private placement on July 15, 2020 (as adjusted for the Reverse
Stock Split), (iii) 150,000 shares of the Company's common stock
held by the selling stockholder that were issued by the Company at
the closing of a private placement on Feb. 3, 2021 (as adjusted for
the Reverse Stock Split) and (iv) the following securities held by
the selling stockholder that were issued by the Company at the
closing of a private placement on April 15, 2024: (a) 714,286
shares of the Company's common stock and (b) 1,071,429 shares of
the Company's common stock issuable upon the exercise of
outstanding warrants to purchase shares of the Company's common
stock.

The Company is not selling any shares of common stock under this
prospectus and will not receive any proceeds from the sale by the
selling stockholder of such shares.  The Company will, however,
receive the net proceeds of any warrants exercised for cash.

Sales of shares of common stock by the selling stockholder may
occur at fixed prices, at market prices prevailing at the time of
sale, at prices related to prevailing market prices or at
negotiated prices. The selling stockholder may sell shares to or
through underwriters, broker-dealers or agents, who may receive
compensation in the form of discounts, concessions or commissions
from the selling stockholder, the purchasers of the shares, or
both.

The Company is paying the cost of registering the shares of common
stock pursuant to this prospectus as well as various related
expenses.  The selling stockholder is responsible for all broker or
similar commissions related to the offer and sale of their shares.

The Company's common stock is listed on The Nasdaq Capital Market,
or Nasdaq, under the symbol "OTLK."  On April 25, 2024, the last
reported sale price of the Company's common stock was $8.19 per
share.

A full-text copy of the Registration Statement is available for
free at:

https://www.sec.gov/Archives/edgar/data/1649989/000110465924052965/tm2412691d1_s3.htm

                   About Outlook Therapeutics

Outlook Therapeutics, Inc., formerly known as Oncobiologics, Inc.
-- http://www.outlooktherapeutics.com-- is a biopharmaceutical
company working to develop the first FDA-approved ophthalmic
formulation of bevacizumab for use in retinal indications,
including wet AMD, DME and BRVO. If ONS-5010, its investigational
ophthalmic formulation of bevacizumab, is approved, Outlook
Therapeutics expects to commercialize it as the first and only
on-label approved ophthalmic formulation of bevacizumab for use in
treating retinal diseases in the United States, Europe, Japan and
other markets.

Outlook Therapeutics incurred a net loss of $58.98 million for the
year ended Sept. 30, 2023, compared to a net loss of $66.05 for the
year ended Sept. 30, 2022. As of Sept. 30, 2023, the Company had
$32.30 million in total assets, $46.74 million in total
liabilities, and a total stockholders' deficit of $14.44 million.

Philadelphia, Pennsylvania-based KPMG LLP, the Company's auditor
since 2015, issued a "going concern" qualification in its report
dated Dec. 22, 2023, citing that the Company has incurred recurring
losses and negative cash flows from operations and has an
accumulated deficit that raise substantial doubt about its ability
to continue as a going concern.

The Company has incurred recurring losses and negative cash flows
from operations since its inception and has an accumulated deficit
of $479,096,425 as of Dec. 31, 2023.  As of Dec. 31, 2023, the
Company had $37,666,716 of principal, accrued interest and exit
fees due under an unsecured convertible promissory note issued in
December 2022, maturing on April 1, 2024.  As a result, the Company
said, there is substantial doubt about the Company's ability to
continue as a going concern.


PANACEA LIFE: Fires BF Borgers CPA as Auditor
---------------------------------------------
Panacea Life Sciences Holdings, Inc., disclosed in a Form 8-K filed
with the Securities and Exchange Commission that on May 6, 2024, it
dismissed BF Borgers CPA PC as the Company's independent registered
public accounting firm.  The Company anticipates engaging a new
independent registered public accounting firm quickly, and not yet
engaged a new independent registered public accounting firm.  The
decision to change independent registered public accounting firms
was made with the recommendation and approval of the Board of
Directors of the Company.

The reports of BF Borgers on the Company's consolidated financial
statements for the fiscal years ended Dec. 31, 2023, and Dec. 31,
2022, did not contain an adverse opinion or a disclaimer of opinion
and were not qualified or modified as to uncertainty, audit scope
or accounting principles other than an explanatory paragraph
relating to the Company's ability to continue as a going concern.

The Company said that during the fiscal years ended Dec. 31, 2023,
and Dec. 31, 2022, and through the date of termination, May 3,
2024, there were no "disagreements" with BF Borgers on any matter
of accounting principles or practices, financial statement
disclosure or auditing scope or procedure, which disagreements if
not resolved to the satisfaction of BF Borgers would have caused BF
Borgers to make reference thereto in its reports on the
consolidated financial statement for such years.  During the fiscal
years ended Dec. 31, 2023, and Dec. 31, 2022, and through May 3,
2024, there have been no "reportable events" (as defined in Item
304(a)(1)(iv) and Item 304(a)(1)(v) of Registration S-K), except
for the identified material weaknesses in its internal control over
financial reporting as disclosed in the Company's Annual Report.

                          About Panacea

Panacea Life Sciences Holdings, Inc. formerly known as Exactus Inc.
(OTCQB:EXDI) -- http://www.exactusinc.com-- is a holding company
organized as a plant-based natural health ingredient and product
company, specializing in the development, manufacturing, research,
and distribution of products within the $134B and rapidly growing
natural health and wellness market segment for both humans and
animals.

Lakewood, CO-based BF Borgers CPA PC, the Company's auditor since
2021, issued a "going concern" qualification in its report dated
March 29, 2024, citing that the Company has suffered recurring
losses from operations that raises substantial doubt about its
ability to continue as a going concern.


PANACEA LIFE: Incurs $1.45 Million Net Loss in First Quarter
------------------------------------------------------------
Panacea Life Sciences Holdings, Inc., filed with the Securities and
Exchange Commission its Quarterly Report on Form 10-Q reporting a
net loss of $1.45 million on $1.06 million of revenue for the three
months ended March 31, 2024, compared to a net loss of $1.79
million on $677,481 of revenue for the three months ended March 31,
2023.

As of March 31, 2024, the Company had $17.41 million in total
assets, $27.04 million in total liabilities, and a total
stockholders' deficit of $9.62 million.

Panacea said, "The going concern concept contemplates the
realization of assets and satisfaction of liabilities in the normal
course of business.  No adjustment has been made to the carrying
amount and classification of the Company's assets and the carrying
amount of its liabilities based on the going concern uncertainty.
These factors raise substantial doubt about the Company's ability
to continue as a going concern for a period of 12 months from the
issuance date of this report.  Management cannot provide assurance
that the Company will ultimately achieve profitable operations or
become cash flow positive or raise additional debt and/or equity
capital.  In addition, due to insufficient revenue, we will need to
obtain further funding through public or private equity offerings,
debt financing, collaboration arrangements or other sources in
order to maintain active business operations.  We currently do not
have sufficient cash flow to pay our ongoing financial obligations
on a consistent basis.  The issuance of any additional shares of
common stock, preferred stock or convertible securities could be
substantially dilutive to our stockholders.  In addition, adequate
additional funding may not be available to us on acceptable terms,
or at all.  If we are unable to raise capital, we will be forced to
borrow additional sums from our Chief Executive Officer or delay,
reduce or eliminate our research and development programs, we may
not be able to continue as a going concern, and we may be forced to
discontinue operations."

A full-text copy of the Form 10-Q is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/1552189/000149315224017858/form10-q.htm

                          About Panacea

Panacea Life Sciences Holdings, Inc. formerly known as Exactus Inc.
(OTCQB:EXDI) -- http://www.exactusinc.com-- is holding company
structured to develop and facilitate manufacturing, research,
product development and distribution in the high-growth, natural
human and animal health & wellness market segment.  Its subsidiary,
Panacea Life Sciences, Inc. (PLS) is dedicated to manufacturing,
research and producing the highest-quality, hemp-derived
cannabinoid, functional mushroom, Kratom and nutraceutical products
for consumers and pets.

Lakewood, CO-based BF Borgers CPA PC, the Company's auditor since
2021, issued a "going concern" qualification in its report dated
March 29, 2024, citing that the Company has suffered recurring
losses from operations that raises substantial doubt about its
ability to continue as a going concern.


PARAMOUNT INTERMODAL: Taps Levene Neale as Bankruptcy Counsel
-------------------------------------------------------------
Paramount Intermodal Systems, Inc. seeks approval from the U.S.
Bankruptcy Court for the Central District of California to hire
Levene, Neale, Bender, Yoo & Golubchik L.L.P. as its general
bankruptcy counsel.

The firm's services include:

     a. advising the Debtors with regard to the requirements of the
Bankruptcy Court, Bankruptcy Code, Bankruptcy Rules and the Office
of the United States Trustee as they pertain to the Debtors and
interacting with and cooperating with any committee appointed in
the Debtors' bankruptcy cases;

     b. advising the Debtors with regard to certain rights and
remedies of its bankruptcy estate and the rights, claims and
interests of creditors;

     c. representing the Debtors in any proceeding or hearing in
the Bankruptcy Court involving its estate unless the Debtors are
represented in such proceeding or hearing by other special
counsel;

     d. conducting examinations of witnesses, claimants or adverse
parties and representing the Debtors in any adversary proceeding
except to the extent that any such adversary proceeding is in an
area outside of Levene's expertise or which is beyond Levene's
staffing capabilities;

     e. preparing and assisting the Debtors in the preparation of
reports, applications, pleadings and orders;

     f. representing the Debtors with regard to obtaining use of
debtor in possession financing and/or cash collateral;

     g. assisting the Debtors in any asset sale process;

     h. assisting the Debtors in the negotiation, formulation,
preparation and confirmation of a plan of reorganization and the
preparation and approval of a disclosure statement in respect of
the plan; and

     i. performing any other services which may be appropriate in
Levene's representation of the Debtors during their bankruptcy
case.

The firm will be paid at these rates:

     Attorneys           $495 to $725 per hour
     Paraprofessionals   $300 per hour

The firm received the sum of $50,000 which constituted a
pre-bankruptcy retainer.

Ron Bender, Esq., a partner at Levene, 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:

     Ron Bender, Esq.
     Todd Arnold, Esq.
     Yihan She, Esq.
     LEVENE, NEALE, BENDER, YOO & GOLUBCHIK L.L.P.
     2818 La Cienega Avenue
     Los Angeles, CA 90034
     Telephone: (310) 229-1234
     Facsimile: (310) 229-1244
     Email: rb@levene.COM
            tma@levene.COM
            yas@levene.COM

      About Paramount Intermodal Systems

Paramount Intermodal Systems, Inc. offers a range of logistics and
transportation services.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. C.D. Calif. Case No. 24-12857) on April 12,
2024, with $1 million to $10 million in assets and liabilities.
Carlos Orellana, director, signed the petition.

Ron Bender, Esq., at Levene, Neale, Bender, Yoo & Golubchik L.L.P.
represents the Debtor as legal counsel.


PARKCLIFFE DEVELOPMENT: Taps Diller and Rice as Bankruptcy Counsel
------------------------------------------------------------------
Parkcliffe Development LLC seeks approval from the U.S. Bankruptcy
Court for the Northern District of Ohio to hire Diller and Rice,
LLC as its counsel.

The firm will consult with and aid in the preparation and
implementation of a plan of reorganization and represent the Debtor
in all matters relating to such proceedings.

The firm will be paid at these rates:

     Steven L. Diller            $350 per hour
     Administrative Assistant    $100 per hour

The firm received a retainer in the amount of $15,000.

As disclosed in court filings, Diller and Rice is a disinterested
person within the meaning of Section 101(14) of the Bankruptcy
Code.

The firm can be reached through:

     Steven L. Diller, Esq.
     Diller & Rice, LLC
     124 E Main Street
     Van Wert, OH 45891
     Tel: (419) 238-5025
     Email: steven@drlawllc.com

           About Parkcliffe Development LLC

Parkcliffe Development owns 10 real properties, all located in
Ohio, having a total current value of $2.96 million.

Parkcliffe Development LLC filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ohio Case No.
24-30814) on April 30, 2024, listing $3,672,259 in assets and
$6,244,978 in liabilities. The petition was signed by Wayne H.
Bucher as president.

Judge John P Gustafson presides over the case.

Steven L. Diller, Esq. at DILLER AND RICE, LLC represents the
Debtor as counsel.


PATINOS CONCRETE: Seeks to Tap Blanchard Law as Bankruptcy Counsel
------------------------------------------------------------------
Patinos Concrete and Masonry, Inc. seeks approval from the U.S.
Bankruptcy Court for the Middle District of Florida to hire
Blanchard Law, PA as counsel.

The firm will render these services:

     (a) advise the Debtor with respect to its powers and duties in
the continued operation of its business and management of its
property;

     (b) prepare legal papers; and

     (c) perform all other legal services for the Debtor.

The hourly rates of the firm's counsel and staff are as follows:

     Jake Blanchard, Esq. $350
     Associate Attorney   $300
     Paralegal            $100

The Debtor has agreed to pay the firm a general retainer of $15,000
plus the filing fee of $1,738.

Jake Blanchard, Esq., an attorney at Blanchard Law, 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:

     Jake C. Blanchard, Esq.
     Blanchard Law, PA
     8221 49th Street N.
     Pinellas Park, FL 33781
     Telephone: (727) 531-7068
     Facsimile: (727) 535-2068
     Email: jake@jakeblanchardlaw.com

             About Patinos Concrete and Masonry

Patinos Concrete and Masonry, Inc. filed its voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla.
Case No. 24-02190) on April 19, 2024, listing $1,546,666 in assets
and $1,213,016 in liabilities. The petition was signed by Brent
Hebert as manager.

Judge Roberta A Colton presides over the case.

Jake C. Blanchard, Esq. at BLANCHARD LAW, P.A. represents the
Debtor as counsel.


PLOURDE SAND: Wins Cash Collateral Access Thru July 1
-----------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Plourde Sand & Gravel Co., Inc. to use cash collateral and provide
adequate protection, through July 1, 2024. However, the Debtor is
not permitted to issue any payments or checks on July 1, pending
further order of the Court unless the Cash Collateral Record
Lienholders consent.

Specifically, the Debtor may use and expend cash collateral to pay
the costs and expenses incurred by the Debtor in the ordinary
course of business and make adequate protection payments to the
extent provided for in the Budget attached as Exhibit A up to
$284,489 during the period between May 1, 2024, and June 30, 2024.


The Debtor will make an adequate protection payment in the amount
of $6,625 each week to GreenLake during the month of May 2024.
Effective June 3, 2024, the Debtor will increase its weekly
adequate protection payment to GreenLake to $7,000. These payments
will continue pending further order of the Court.

The Debtor will continue to make adequate protection payments in
the amount of $6,625 each week to GreenLake. These payments will
continue pending further order of the Court.

The Debtor will provide GreenLake, the IRS, and the U.S. Trustee
with bi-weekly budget-to-actual figures for its operations with
such reporting due on or before May 1, 2024 and continuing
bi-weekly thereafter.

The Debtor's Budget may include weekly payments to Daniel Plourde
in the amount of $500.

Each Cash Collateral Record Lienholder is granted a replacement
lien in, to, and on the Debtor's post-petition property of the same
kinds and types as the collateral in, to, and on which it held
valid and enforceable, perfected liens on the petition date as
security for any loss or diminution in the value of the collateral
held by any such Cash Collateral Record Lienholders on the petition
date which will have and enjoy the same priority as it had on the
petition date under applicable state law. The replacement liens
granted:

a. Will be deemed valid and perfected notwithstanding any
requirements of non-bankruptcy law with respect to perfection.
b. Will be supplemental and in addition to any liens held on the
petition date.
c. Will be effective as of the petition date and shall maintain the
same priority, validity, and enforceability as the liens held by
the Cash Collateral Record Lienholders on such date and will be
senior to any liens or any allowed super-priority claim
subsequently granted to any other person or entity with Court
approval.

An evidentiary hearing on the matter is set for July 1, 2024 at
9:30 a.m.

A copy of the court's order and the Debtor's budget is available at
https://urlcurt.com/u?l=ssqgL4 from PacerMonitor.com.

The Debtor projects $153,751 in total income and $143,748 in total
expenses in May 2024.

             About Plourde Sand & Gravel Co., Inc.

Plourde Sand & Gravel Co., Inc. sought protection under Chapter 11
of the U.S. Bankruptcy Code (Bankr. D. N.H. Case No. 24-10015) on
January 9, 2024. In the petition signed by Daniel O. Plourde, sole
shareholder and vice president, the Debtor disclosed up to $10
million in both assets and liabilities.

Judge Bruce A. Harwood oversees the case.

Eleanor Wm. Dahar, Esq., at VICTOR W. DAHAR PROFESSIONAL
ASSOCIATION, represents the Debtor as legal counsel.


PLUS STUDIOS: Seeks to Tap Timothy P. Thomas as Legal Counsel
-------------------------------------------------------------
Plus Studios LLC seeks approval from the U.S. Bankruptcy Court for
the District of Nevada to hire the Law Offices of Timothy P.
Thomas, LLC, as its legal counsel.

The firm will advise the Debtor regarding its duties under the
Bankruptcy Code and will provide other legal services related to
its Chapter 11 case.

Thomas will charge $500 per hour for its attorneys and $250 per
hour for paralegals.  The firm received a pre-bankruptcy retainer
in the sum of $15,000.

The firm is "disinterested" as defined in Section 101(14) of the
Bankruptcy Code, according to court filings.

Thomas can be reached through:

     Timothy P. Thomas, Esq.
     Law Offices of Timothy P. Thomas, LLC
     1771 E. Flamingo Road, Suite B-212
     Las Vegas, NV 89119
     Tel: (702) 227-0011
     Fax: (702) 227-0334
     E-mail: tthomas@tthomaslaw.com

                About Plus Studios LLC

Plus Studios is a curator of tradeshow experiences, unique events
and modernistic interiors.

Plus Studios LLC filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. D. Nev. Case No.
24-12035) on April 26, 2024, listing up to $50,000 in assets and $1
million to $10 million in liabilities. The petition was signed by
Matthew S. Naert as manager.

Timothy P. Thomas, Esq. at the Law Office of Timothy P. Thomas, LLC
represents the Debtor as counsel.


PRIME HEALTHCARE: Fitch Affirms 'B' LongTerm IDR, Outlook Stable
----------------------------------------------------------------
Fitch Ratings has affirmed Prime Healthcare Services, Inc.'s (PHSI)
Long-Term Issuer Default Rating (IDR) at 'B'. The Rating Outlook
has been revised to Stable from Negative. Fitch has also assigned a
new 'BB'/'RR1' instrument/recovery rating to PHSI's latest senior
secured ABL revolver and has upgraded PHSI's senior secured notes
to 'B+'/'RR3' from 'B'/'RR4'.

The upgrade of the notes reflects improved collateralization and
recovery prospects from PHSI's repurchase of 17 previously-leased
hospitals in the past two years. The Stable Outlook reflects
Fitch's expectation, following a sharp EBITDAR decline in 2022 and
a partial rebound in 2023, that rent-adjusted leverage is likely to
return to the 4.0x-5.0x sensitivity range by YE 2024. This further
reflects Fitch's expectation that in 2024 PHSI will further reduce
contract labor expense, realize increased revenue from state
Medicaid supplemental payment programs, and benefit from both an
industry-wide upturn in volume growth and its resolution of certain
idiosyncratic local market challenges.

KEY RATING DRIVERS

Recovering from Labor Market Disruption: In 2022, the pandemic
constrained labor supply industry-wide, while labor needs increased
as hospitals struggled to handle elective procedure demand. As a
lower-margin operator facing the industry-wide downturn in
profitability that resulted, PHSI's margins came under intense
pressure. With hospital labor market dynamics normalizing by early
2023, EBITDAR rebounded as PHSI cut a majority of the incremental
labor costs initially incurred in 2022. Fitch expects further labor
cost reductions in 2024 are likely to help PHSI deleverage and
restore FCF to levels consistent with its 'B' IDR by YE 2024,
nearly a year prior to the November 2025 maturity of its bonds.

Fitch also expects PHSI to restore EBITDAR margins to double-digit
levels within a year via: (1) more efficient use of temporary staff
and recruitment/retention of full-time labor; (2) refining care
models to reduce reliance on higher-cost labor; (3) receipt of
material reimbursement increases from Medicaid supplemental payment
programs; and (4) reducing full-time employee wage supplements as
local-market labor demand and supply return to equilibrium levels.

Concentration Risk and Smaller Scale Entail Higher Volatility:
Fitch expects PHSI to exhibit higher volatility in EBITDAR and cash
flow through the cycle than its for-profit health system peers.
This is due to its smaller scale, higher mix of ED care and lower
operating margins. Fitch also continues to see concentration risk
from PHSI's distinct focus on ED care. While demand for ED care is
less-discretionary than for other service lines and less
susceptible to outpatient migration (suggesting more durable
volumes), its skew toward Medicaid and Medicare, which reimburse ED
care at rates below those paid by commercial health insurers, is
likely to constrain margins.

PHSI's credit profile also entails higher concentration risk
whether based on geography (over 75% of 2023 revenue was generated
in CA, NJ, NV and TX, with over 40% of revenue from CA alone),
service line (ED accounted for over 85% of admissions in 2023) and
Medicaid reimbursement exposure, including its reliance on CA's
Hospital Quality Assurance Fee (QAF) program. While Fitch expects
PHSI to generate material cash flow from CA's QAF program (funding
increased in 2023 and is likely to boost EBITDAR in 2024), Medicaid
could be a target if the economy weakens and budget pressures
mount, with potential for cuts that could pressure PHSI's financial
results materially.

Regarding PHSI's above-average exposure to Medicaid, the 2023-2024
eligibility redetermination process has not translated into
significant increases in uninsured volumes. Instead, providers have
seen some former Medicaid patients return for care with new
coverage under heavily-subsidized ACA exchange health insurance
plans. The reimbursement implications of even a small portion of
the Medicaid population gaining higher-rate ACA exchange coverage
are notably positive for providers.

Historically Conservative Financial Policy: Rent-adjusted leverage
has declined significantly from its peak of 11.0x at YE 2022 to
7.0x at YE 2023. Fitch expects this to decline to at least 5.0x by
YE 2024, and its long-term forecast reflects a continuing
expectation that PHSI will look to operate with rent-adjusted
leverage within the 4.0x-5.0x range. This is about average relative
to its for-profit health system peers. While Fitch does not expect
PHSI to engage in debt-financed acquisitions that would sustain
rent-adjusted leverage above 5.0x EBITDAR, the 'B' IDR could come
under pressure if PHSI were to do so.

Growth via Acquisitions and Operational Improvements: While PHSI
assembled its hospital portfolio over the last two decades via
lease- and debt-financed acquisitions, its purchase of St. Francis
Medical Center (Lynwood, CA) in 2020 marked its only acquisition
since 2016. Its growth strategy focuses on acquiring and improving
results at underperforming ED-focused hospitals, and PHSI's
quality-of-care statistics, historical cost reductions and (to a
lesser extent) revenue improvements suggest its strategy has been
largely successful.

However, Fitch has limited visibility on the degree to which the
case mix has improved, due to appropriate changes in billing
practices (e.g. reducing avoidable claim denials), rather than
practices that are harder to justify (e.g. as alleged in past legal
disputes). Additionally, while Fitch expects PHSI to focus on
reducing labor costs to improve margins, its higher-risk
turnaround-oriented acquisition strategy renders execution
paramount.

Corporate Governance Increases Risk: Privately-held PHSI has a
complex corporate structure and concentrated ownership, which has
the potential to influence its managerial judgment and board
oversight. This could complicate evaluation of its financial
performance and the prudence of related party transactions. PHSI
manages 13 of 14 hospitals owned by related not-for-profit Prime
Healthcare Foundation (PHF), and eight of PHF's hospitals were
previously donated by PHSI (the rest were directly acquired by
PHF). PHSI also donated real property to PHF with a carrying value
of $14 million at YE 2022.

Nevertheless, bondholders benefitted from related parties of PHSI
issuing unsecured junior debt to fund nearly 70% of PHSI's $366
million acquisition of nine previously-leased hospitals in 2022 and
90% of its $100 million acquisition of three previously-leased
hospitals in 2023. Additionally, in April 2024, PHSI used $250
million in cash (80% from its December 2023 sale of Alvarado
Medical Center in California) and a $100 million mortgage note due
December 2024 to fund its April 2023 acquisition of five
previously-leased hospitals. PHSI now owns all but four of its
hospitals outright, materially expanding the collateralization of
its bonds.

PHSI also has a history of litigation, having paid $34 million in
2021 and $62 million in 2018 to settle DOJ False Claims Act
allegations, including fraudulent billing and kickbacks, both after
resolving nearly a decade of litigation with Kaiser Permanente in
2015. There is also risk of PHSI potentially acting to benefit its
private owners in a default or restructuring to the detriment of
creditor recoveries

DERIVATION SUMMARY

Relative to its for-profit health system peers, PHSI (B/Stable) is
smaller in terms of revenue and more geographically concentrated,
which increases potential volatility in EBITDAR and FCF. Its
hospitals rely more on Medicaid ED cases and less on elective
treatments for commercially-insured patients, which provides some
durability to revenue but at lower margins, given Medicaid's lower
payment rates and the lower acuity level of ED volumes generally.

This is evident to some extent in PHSI's lower levels of revenue
and EBITDAR relative to the acute care operations of peer Universal
Health Services (UHS; BB+/Stable) despite their comparable number
of hospitals and beds, though Fitch expects that UHS hospitals are
likely also generating more revenue due to higher average daily
census and occupancy levels.

PHSI has historically offset some of the above risks by operating
with EBITDAR leverage in the middle of the range typical of its
publicly-traded health system peers. UHS and Tenet Healthcare
(B+/Positive) have recently maintained EBITDA Leverage of 2.0x-3.0x
and 4.5x-5.5x, respectively, and Community Health Systems (CCC+) is
currently leveraged just over 8.0x (albeit targeting sub-6.0x
leverage).

PHSI entails higher group transparency and governance risks than
its for-profit health system peers due to concentrated private
ownership and extensive relationships with related parties, among
them PHF (BBB+/Stable), to whom it donated 9 hospitals and for whom
it now manages 13 in exchange for fees.

While this management arrangement creates some operational overlap
between PHSI and PHF, Fitch does not consider there to be a
parent/subsidiary relationship between them as they are independent
entities. PHSI is not owned by PHF, and PHF is not owned by PHSI or
its parent, Prime Healthcare Holdings, Inc. Moreover, neither
guarantees of debt nor cross-default risk exists between them, and
Fitch does not expect PHSI would provide support to PHF
financially.

KEY ASSUMPTIONS

- Organic revenue growth of 2%-3% in 2024-2026 (1% in 2027),
primarily driven by low single-digit patient volume growth;

- EBITDAR margins improve from 9% in 2023 to 11% in 2024 and flat
thereafter, driven by labor cost savings, operating leverage from
volume growth, resolution of idiosyncratic issues in a handful of
markets, and growth in state directed payment programs;

- Capex at 2.0% of revenue, rising gradually in the range of $85
million-$95 million annually into 2027;

- Positive FCF of about $120 million in 2024 and rising gradually
within the range of about $150 million-$200 million annually
thereafter, net of $10 million of dividends paid annually to PHSI's
founder;

- Acquisitions of $100 million annually in 2025-2027 financed via
FCF;

- EBITDAR leverage reduced to 5.0x by YE 2024, then declining
gradually to about 4.0x by YE 2027; and

- No allocation of FCF to voluntary debt repayments.

RECOVERY ANALYSIS

Derivation of Recovery Ratings and Debt-Level Ratings: The
'BB'/'RR1' rating on the ABL revolver and the 'B+'/'RR3' rating on
the senior secured bonds reflect Fitch's estimated recoveries in a
restructuring scenario of 91%-100% for the ABL and 51%-70% for the
bonds. The ratings also reflect Fitch's notching of instrument
ratings from the 'B' IDR, all based on a bespoke recovery analysis.
This assumes that PHSI would be reorganized in bankruptcy as a
going concern, rather than liquidated, to maximize the value
distributable to claims.

Fitch assumes PHSI would likely default and/or restructure if
EBITDAR were to decline below $300 million, which would likely
entail elevated refinancing risk with leverage well above
acquisition multiples for its hospitals and PHSI burning cash
unsustainably. This scenario could involve material cuts to
Medicaid and/or Medicare reimbursement, adverse changes to Medicaid
provider fee programs and/or reductions to, or the elimination of,
management fees PHSI receives from related not-for-profit PHF.

Fitch believes that any upside in restructuring from corrective
measures would likely be immaterial amid limited potential cost
offsets to a unilateral reduction in government reimbursement,
especially as PHSI has long focused on improving the financial and
operating results of its acquired hospitals, including eliminating
redundancies. Fitch expects PHSI would likely lose the fees it
earns today from managing 13 hospitals owned by PHF, given the
latter has strong financial incentives and contractual rights that
are likely to conflict with those of PHSI's creditors, with EBITDAR
likely declining to below $275 million.

Fitch also assumes that the senior secured lenders, were they to
enforce their first-lien security interest in PHSI's owned
hospitals, would benefit only from the EBITDA generated by PHSI's
owned hospitals, without the benefit of equity value in the
hospitals leased by PHSI. This is due to the likely rejection or
amendment of those leases leaving minimal (if any) equity value.
Following three separate multiple-hospital repurchase transactions
since mid-2022, Fitch estimates that owned hospitals now account
for 90% of PHSI's EBITDAR; therefore, Fitch discounts GC EBITDA
accordingly (by 10%) for valuation purposes in calculating
recoveries to PHSI's creditors.

Fitch estimates that the collateral securing the ABL revolver, the
senior secured notes and the MPT mortgage note could be valued at
$942 million. This reflects two inputs: the first derived by
applying a 6.25x EBITDA multiple (discussed further below) on $162
million of GC EBITDA, based on Fitch's estimate of the share of
PHSI's total GC EBITDAR that its owned hospitals would generate
(less $95 million of rent expense to convert to EBITDA); the other
comprising $34 million of Additional Value based on Fitch's
estimate of receivables generated by leased hospitals
collateralizing its ABL revolver, in addition to those generated by
the owned hospitals and captured above. The sum of these amounts is
reduced by 10% to cover assumed administrative claims in a
restructuring, netting distributable proceeds of $942 million.

Fitch's assumption of a 6.25x EV/EBITDA multiple reflects
historical bankruptcy exit multiples for peer companies with a
median value of 6.00x-6.50x, acquisition multiples for hospitals
acquired by PHSI and trading multiples of its publicly-traded
for-profit health system peers, which have generally ranged from
6.50x-9.50x since 2011. In applying distributable proceeds of $942
million, Fitch assumes PHSI's $425 million ABL revolver is drawn in
the amount of $340 million (80% of total), that the outstanding
senior secured notes total $874 million and that the $100 million
MPT mortgage note remains outstanding.

Fitch does not assume any material collateral leakage via
dispositions, contributions, restricted payments, etc. ahead of a
restructuring, but notes the possibility thereof, particularly via
restricted payments as defined under PHSI's debt agreements. The
assumed scenario and calculation of certain assumptions, including
EBITDAR at time of restructuring, GC EBITDAR and related valuation
multiples are unchanged from prior reviews. Other assumptions such
as debt balances or contribution mix between leased and owned
assets have changed from prior reviews due to factual changes, most
notably the share of EBITDAR attributable to owned hospitals, which
is now estimated at 90%.

RATING SENSITIVITIES

Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade

- Improving operating results expected to sustainably reduce
EBITDAR Leverage below 4.0x;

- PHSI diversifying service mix away from ED services, better
aligning it with secular trends; and

- Evidence of improvement in corporate governance to levels no
longer adversely affecting its ratings.

Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade

- Deteriorating operating results expected to sustainably increase
EBITDAR Leverage over 5.0x;

- FCF declining from "durably positive" levels and expected to be
sustained at negative levels; and

- Evidence of weak corporate governance independently warranting
lower ratings under Fitch's criteria.

LIQUIDITY AND DEBT STRUCTURE

Adequate Liquidity Profile: Liquidity included $64 million of ABL
revolver availability and $120 million in cash as of YE 2023. Fitch
expects PHSI to generate positive FCF averaging over $150 million
annually over the forecast period, and assumes $10 million of
dividend payments annually to PHSI's founder. PHSI has now
addressed all sale-leaseback obligations that were set to come due
in 2023 and 2025, and Fitch expects that near-term acquisitions are
unlikely prior to PHSI refinancing the senior secured notes due
November 2025.

Debt Structure: As of YE 2023, debt consisted of $319 million drawn
on its $425 million ABL revolver and $874 million of senior secured
notes (plus $335 million of related party unsecured debt), which
have an equity interest in hospitals collateral securing related
lease liabilities of $508 million ($193 million pro forma for
PHSI's April 2024 $350 million repurchase of its previously-leased
St. Clare's and St. Francis hospitals (financed with $200 million
of restricted cash proceeds from its December 2023 sale of its
Alvarado hospital, plus cash on hand and an eight-month mortgage
note collateralized by the real estate associated with St. Clare's
hospital).

ISSUER PROFILE

Privately-held Prime Healthcare Services, Inc. (PHSI) operates 30
urban acute care hospitals with over 6,000 beds, having
above-average concentration in payor mix, case mix (skewing toward
Medicaid-funded ED care) and geography. PHSI also manages 13 acute
care hospitals owned by Prime Healthcare Foundation (PHF), a
related-party charity established by PHSI's founder.

ESG CONSIDERATIONS

PHSI has ESG Relevance Score of '4' for Exposure to Social Impacts,
due to pressure to contain healthcare spending growth, the highly
sensitive political environment, and social pressure to contain
costs or restrict pricing.

PHSI has ESG Relevance Score of '4' for Governance Structure, due
to the significant control the Reddy family has via its ownership,
role within senior management and ability to influence the
composition of PHSI's board of directors (the expertise and
oversight of which is unclear due to limited disclosure).

PHSI has ESG Relevance Score of '4' for Group Structure, due to the
occurrence of related party transactions where benefits to its
private owners have been greater than those to creditors. For
example, PHSI's donation of nine hospitals to related
not-for-profit, PHF, created tax advantages for its owners but
reduced bondholder collateral value. Fitch views this as a net
negative for the credit despite PHSI receiving material cash flows
via fees received from PHF for managing 13 of these facilities.

These ESG Relevance Scores are negatives within the credit profile
and relevant to the ratings alongside other factors.

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.

   Entity/Debt             Rating          Recovery   Prior
   -----------             ------          --------   -----
Prime Healthcare
Services, Inc.       LT IDR B   Affirmed              B

   senior secured    LT     BB  New Rating   RR1

   senior secured    LT     B+  Upgrade      RR3      B


PUNTO OTTICO: Seeks to Hire B&G International as Special Counsel
----------------------------------------------------------------
Punto Ottico USA LLC seeks approval from the U.S. Bankruptcy Court
for the Southern District of New York to hire B&G International Law
PLLC as special corporate and international law counsel.

The firm's services include:

     a. coordinating with the Debtor's stakeholders abroad and
maintaining compliance with any foreign laws to which the Debtor,
its operations, or its transactions are subject;

     b. facilitating transactions with the Debtor's international
vendors and ensuring that all international formalities necessary
to be taken in the ordinary course of the Debtor's business are
maintained;

     c. providing the Debtor, its management, its various
stakeholders, and its vendors with valuable legal expertise paired
with Italian language fluency; and

     d. maintaining the Debtor's corporate formalities and
organizational obligations, consistent with its prepetition
practice.

B&G's hourly rates are:

     Mario Gazzola, Esq.        $450
     Associates                 $350
     Law Clerk Support          $250

B&G is a "disinterested person" within the meaning of section
101(14) of the Bankruptcy Code, according to court filings.

The firm can be reached through:

     Mario Gazzola, Esq.
     B&G International Law PLLC
     66 White St Suite 501
     New York, NY 10013
     Tel: (914) 309-0950
     Email: mgazzola@bginternationallaw.com

                About Punto Ottico USA LLC

Punto Ottico USA LLC, doing business as Punto Ottico Humaneyes, is
an Italian company that operates in the eyewear field since 1991.

Punto Ottico USA LLC sought relief under Subchapter V of Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 24-10660) on
April 18, 2024. In the petition signed by Stefania Passatutto, as
manager, the Debtor reports estimated assets between $100,000 and
$500,000 and estimated liabilities between $1 million and $10
million.

The Honorable Bankruptcy Judge Philip Bentley handles the case.

The Debtor is represented by Joseph Pack, Esq. at Pack Law, P.A.


RADIATE HOLDCO: BlackRock BDEBT Marks $1.4MM Loan at 16% Off
------------------------------------------------------------
BlackRock Private Credit Fund ("BDEBT") has marked its $1,367,848
loan extended to Radiate Holdco, LLC, to market at $1,148,992 or
84% of the outstanding amount, as of March 31, 2024, according to a
disclosure contained in BDEBT's Form 10-Q for the quarterly period
ended March 31, 2024, filed with the U.S. Securities and Exchange
Commission.

BDEBT is a participant in a First Lien Term Loan to Radiate Holdco,
LLC. The loan accrues interest at a rate of 8.69% (SOFR (M) +3.25%,
.75% Floor) per annum. The loan matures on September 25, 2026.

BDEBT is a Delaware statutory trust formed on December 23, 2021.
BDEBT is a non-diversified, closed-end management investment
company that has elected to be regulated as a business development
company under the Investment Company Act of 1940. BDEBT is
externally managed by BlackRock Capital Investment Advisors, LLC.
BlackRock Advisors, LLC serves as the sub-adviser. The Advisers are
subsidiaries of BlackRock, Inc. BlackRock Financial Management,
Inc. serves as the administrator, and is affiliated with the
Advisers. BDEBT's fiscal year ends December 31.

Radiate Holdco LLC, also known as Astound Broadband, and backed by
Stonepeak, is a broadband communications services provider and
cable operator doing business via regional providers RCN, Grande
Communications, Wave Broadband and enTouch Systems.


RAYONIER ADVANCED: Incurs $1.6 Million Net Loss in First Quarter
----------------------------------------------------------------
Rayonier Advanced Materials Inc. filed with the Securities and
Exchange Commission its Quarterly Report on Form 10-Q reporting a
net loss of $1.57 million on $387.66 million of net sales for the
three months ended March 30, 2024, compared to net income of $1.61
million on $466.76 million of net sales for the three months ended
April 1, 2023.

As of March 30, 2024, the Company had $2.13 billion in total
assets, $332.49 million in total current liabilities, $755.63
million in long-term debt, $160.21 million in non-current
environmental liabilities, $99.21 million in pension and other
postretirement benefits, $14.37 million in deferred tax
liabilities, $31.39 million in other liabilities, and $741.75
million in total stockholders' equity.

Management Comments

"First quarter results exceeded our expectations, driven by lower
costs and improved demand for cellulose specialties.  We delivered
a solid $52 million in Adjusted EBITDA to maintain a net secured
debt ratio of 4.4 times covenant EBITDA," stated De Lyle
Bloomquist, president and CEO of RYAM.  "We also increased capital
expenditures to support growth in our Biomaterials strategy and
increased net debt to boost inventory levels in preparation for
Jesup's annual outage."

"The solid first quarter, along with the start-up of the bioethanol
facility in Tartas and the April completion of the planned
maintenance outage in Jesup, keep us on track to deliver our
full-year guidance of $180 to $200 million in Adjusted EBITDA.  As
a result of the indefinite suspension of operations of our
Temiscaming High Purity Cellulose plant and the sale of refund
rights to our softwood lumber duties to OCP Lumber LLC, our 2024
Adjusted Free Cash Flow guidance is increased to $80 to $100
million.  The suspension at Temiscaming will also reduce our
exposure to the volatile commodity viscose market.  The potential
sale of the Temiscaming Paperboard and High-Yield Pulp facilities
is progressing, albeit slower than originally expected, as we
manage buyers through the complexity of carving out these assets.
While the suspension and asset sale decisions affecting the
Temiscaming site have been approached and carried out
independently, we believe the suspension will bring clarity to the
asset sale diligence process by validating that these assets can be
efficiently run separately.  Updates on these processes will be
provided as appropriate.  In the meantime, we are focused on
reducing debt with lower earnings volatility as we plan to
refinance our senior secured notes prior to them becoming current
in early 2025," concluded Mr. Bloomquist.

A full-text copy of the Form 10-Q is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001597672/000159767224000014/ryam-20240330.htm

                           About RYAM

RYAM -- http://www.RYAM.com/-- is a global leader of
cellulose-based technologies, including high purity cellulose
specialties, a natural polymer commonly used in the production of
filters, food, pharmaceuticals, and other industrial applications.
The Company also manufactures products for paper and packaging
markets.  The Company has manufacturing operations in the U.S.,
Canada, and France.

Rayonier Advanced reported a net loss of $101.84 million in 2023
compared to a net loss of $14.92 million in 2022.

                             *   *   *

As reported by the TCR on Nov. 24, 2023, Moody's Investors Service
downgraded Rayonier Advanced Materials Inc.'s (RYAM) corporate
family rating to Caa1 from B2 and changed the outlook to negative
from stable.  The downgrade of the CFR reflects Moody's view that
RYAM's liquidity will be weak over the next 12 months and that
there is a potential for a financial covenant breach.


RAZOR GROUP: BlackRock DLC Marks $578,632 Loan at 34% Off
---------------------------------------------------------
BlackRock Direct Lending Corp has marked its $578,632 loan extended
to Razor Group Holdings II, Inc. (US Newco)to market at $383,054 or
66% of the outstanding amount, as of March 31, 2024, according to a
disclosure contained in BlackRock DLC's Form 10-Q for the quarterly
period ended March 31, 2024, filed with the U.S. Securities and
Exchange Commission.

BlackRock DLC is a participant in a First Lien C Term Loan to Razor
Group. The loan accrues interest at a rate of 7% (Fixed, 3.50% Cash
+ 3.50% Payment In Kind) per annum. The loan matures on September
30, 2028.

BlackRock DLC is a Delaware corporation formed on October 12, 2020
as an externally managed, closed-end, non-diversified management
investment company. The Company elected to be regulated as a
business development company under the Investment Company Act of
1940, as amended. The Company invests primarily in middle-market
companies headquartered in North America. The Company commenced
operations on November 30, 2020. BlackRock DLC's fiscal year ends
December 31.

Razor Group Holdings II, Inc. is in the Diversified Consumer
Services Industry.


RESEARCH NOW: BlackRock BDEBT Marks $2.4MM Loan at 40% Off
----------------------------------------------------------
BlackRock Private Credit Fund ("BDEBT") has marked its $2,447,781
loan extended to Research Now Group, LLC to market at $1,477,089 or
60% of the outstanding amount, as of March 31, 2024, according to a
disclosure contained in BDEBT's Form 10-Q for the quarterly period
ended March 31, 2024, filed with the U.S. Securities and Exchange
Commission.

BDEBT is a participant in a First Lien Term Loan to Research Now
Group, LLC. The loan accrues interest at a rate of 11.07% (SOFR (Q)
+ 5.76%, 1% Floor) per annum. The loan matures on December 20,
2024.

BDEBT is a Delaware statutory trust formed on December 23, 2021.
BDEBT is a non-diversified, closed-end management investment
company that has elected to be regulated as a business development
company under the Investment Company Act of 1940. BDEBT is
externally managed by BlackRock Capital Investment Advisors, LLC.
BlackRock Advisors, LLC serves as the sub-adviser. The Advisers are
subsidiaries of BlackRock, Inc. BlackRock Financial Management,
Inc. serves as the administrator, and is affiliated with the
Advisers. BDEBT's fiscal year ends December 31.

Headquartered in Plano, Texas, Research Now Group, LLC (formerly
Research Now Group, Inc.) and its subsidiary Dynata, LLC (formerly
Survey Sampling International, LLC), provide data collection
services through online, mobile and offline surveys used by market
research firms, consulting firms and corporate customers.



REVA HOSPITALITY: Hires Joyce W. Lindauer as Bankruptcy Counsel
---------------------------------------------------------------
Reva Hospitality Wylie, LLC seeks approval from the U.S. Bankruptcy
Court for the Northern District of Texas to hire Joyce W. Lindauer
Attorney, PLLC to serve as legal counsel in its Chapter 11 case.

The firm's hourly rates are as follows:
  
     Joyce W. Lindauer, Esq.         $495 per hour
     Sydney Ollar, Esq.              $295 per hour
     Laurance Boyd, Esq.             $250 per hour
     Dian Gwinnup                    $225 per hour

The Debtor paid a filing fee of $25,000.

Joyce Lindauer, Esq., the owner of the law firm, disclosed in a
court filing that she is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Joyce W. Lindauer, Esq.
     JOYCE W. LINDAUER ATTORNEY, PLLC
     1412 Main Street, Suite 500
     Dallas, TX 75202
     Telephone: (972) 503-4033
     Facsimile: (972) 503-4034
     Email: joyce@joycelindauer.com

         About Reva Hospitality Wylie

Reva Hospitality Wylie, LLC, doing business as Holiday Inn Express
Wylie, filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. N.D. Texas Case No. 24-30973) on April 1,
2024, with $1 million to $10 million in both assets and
liabilities. Mehul Gajera, manager, signed the petition.

Judge Scott W. Everett oversees the case.

Joyce W. Lindauer, Esq., at Joyce W. Lindauer Attorney PLLC
represents the Debtor as bankruptcy counsel.


RIN LTD II: Moody's Upgrades Rating on $7MM Class E Notes to Ba2
----------------------------------------------------------------
Moody's Ratings has upgraded the ratings on the following notes
issued by RIN II Ltd.:

US$41,000,000 Class B Floating Rate Senior Notes due 2030 (the
"Class B Notes"), Upgraded to Aaa (sf); previously on July 17, 2023
Upgraded to Aa1 (sf)

US$21,000,000 Class C Deferrable Floating Rate Mezzanine Notes due
2030 (the "Class C Notes"), Upgraded to Aa1 (sf); previously on
July 17, 2023 Upgraded to Aa3 (sf)

US$28,000,000 Class D Deferrable Floating Rate Mezzanine Notes due
2030 (the "Class D Notes"), Upgraded to Baa1 (sf); previously on
September 10, 2019 Definitive Rating Assigned Baa3 (sf)

US$7,000,000 Class E Deferrable Floating Rate Mezzanine Notes due
2030 (the "Class E Notes"), Upgraded to Ba2 (sf); previously on
September 10, 2019 Definitive Rating Assigned Ba3 (sf)

RIN II Ltd., originally issued in September 2019, is a managed
cashflow project finance CLO. The notes are collateralized
primarily by a portfolio of broadly syndicated first lien senior
secured project finance and corporate infrastructure loans. The
transaction's reinvestment period ended in September 2023.

A comprehensive review of all credit ratings for the respective
transaction has been conducted during a rating committee.

RATINGS RATIONALE

These rating actions are primarily a result of deleveraging of the
senior notes and an increase in the transaction's
over-collateralization (OC) ratios since July 2023.The Class A
notes have been paid down by approximately 25% or $64.1 million
since then. Based on Moody's calculation, the OC ratios for the
Class A/B, Class C, Class D and Class E notes are currently
141.57%, 129.87%, 116.97% and 114.14%, respectively, versus July
2023 levels of 134.59%, 125.70%, 115.53% and 113.24%,
respectively.

Nevertheless, the credit quality of the portfolio has deteriorated
in the past year. Based on Moody's calculation, the current
weighted average rating factor (WARF) of project finance
infrastructure loans has deteriorated to 1999 from 1678, and the
WARF of corporate loans has deteriorated to 3050 from 2894, in each
case since July 2023.

No action was taken on the Class A notes because its expected loss
remains commensurate with its current rating, after taking into
account the CLO's latest portfolio information, its relevant
structural features and its actual over-collateralization and
interest coverage levels.

Moody's modeled the transaction by applying the Monte Carlo
simulation framework in Moody's CDOROM™ to estimate collateral
loss distributions, as described in the "Project Finance and
Infrastructure Asset CLOs methodology" and by using a cash flow
model which estimates expected loss on rated liabilities in this
transaction, as described in "Moody's Global Approach to Rating
Collateralized Loan Obligations."

The key model inputs Moody's used in its analysis are based on its
published methodology and could differ from the trustee's reported
numbers. For modeling purposes, Moody's used the following
base-case assumptions:

Performing par and principal proceeds balance: $325,324,890

Project Finance Infrastructure Obligors: 60.6%

Corporate Infrastructure Obligors: 39.4%

Defaulted par: $9,837,149

Weighted Average Rating Factor (WARF) of Project Finance Loans:
1999

Weighted Average Rating Factor (WARF) of Corporate Infrastructure
Loans: 3050

Weighted Average Spread (WAS) (before accounting for reference rate
floors): 3.44%

Weighted Average Recovery Rate (WARR) of Project Finance Loans:
72.5%

Weighted Average Recovery Rate (WARR) of Corporate Infrastructure
Loans: 45.3%

Weighted Average Life (WAL): 3.9 years

Total Obligors: 50

B2 Default Probability Rating Obligations: 20.3%

B3 Default Probability Rating Obligations: 7.0%

Power Generation Obligors (Merchant): 40.4%

Power Generation Obligors (Contracted): 6.3%

In addition to base case analysis, Moody's ran additional scenarios
where outcomes could diverge from the base case. The additional
scenarios consider one or more factors individually or in
combination, and include: deterioration in the credit quality of
the underlying portfolio, decrease in overall WAS or net interest
income, and higher asset correlations.

Methodology Used for the Rating Action:

The methodologies used in these ratings were "Moody's Global
Approach to Rating Collateralized Loan Obligations" published in
December 2021.

Factors that Would Lead to an Upgrade or Downgrade of the Ratings:

The performance of the rated notes is subject to uncertainty. The
performance of the rated notes is sensitive to the performance of
the underlying portfolio, which in turn depends on economic and
credit conditions that may change. The Manager's investment
decisions and management of the transaction will also affect the
performance of the rated notes.


RISKON INTERNATIONAL: Ault Named Executive Chairman, Spaziano CEO
-----------------------------------------------------------------
RiskOn International, Inc. disclosed in a Form 8-K Report filed
with the U.S. Securities and Exchange Commission that effective
April 30, 2024, the Company, accepted the resignations of (i)
Milton C. Ault, III as the Company's Chief Executive Officer, and
(ii) Joseph M. Spaziano as the Company's Chief Operating Officer,
each of which was submitted to the Company on April 30, 2024 in
conjunction with their appointment to new officer positions.

As previously disclosed on a Current Report on Form 8-K on January
29, 2024, the Company appointed Ault as Chairman of the Company's
board of directors and its Chief Executive Officer.

On April 30, the Company appointed Mr. Ault as its Executive
Chairman.

Mr. Ault, 54, currently holds the position of Executive Chairman at
Ault Alliance, Inc., a diversified holding company listed on the
NYSE American and Chairman of the board of directors at Ault
Disruptive Technologies Corporation, a Special Purpose Acquisition
Company listed on the NYSE American. Since January 2011, Mr. Ault
has been the Vice President of Business Development at MCKEA
Holdings, LLC, a family office. He has also been the Chairman of
Avalanche International Corp., a publicly traded Nevada company
categorized as a "voluntary filer" (not required to file periodic
reports) since September 2014. Since December 2015, Mr. Ault has
held the positions of Chairman and Chief Executive Officer at Ault
& Company, Inc., a Delaware holding company. On February 25, 2016,
Mr. Ault founded Alzamend Neuro, Inc., a biotechnology firm
dedicated to researching and finding treatments, prevention
methods, and cures for Alzheimer's Disease. He served as its
Chairman until its initial public offering, at which point he
transitioned to the role of Chairman Emeritus and consultant. In
April 2023, Mr. Ault was appointed as the Executive Chairman of the
board of directors of the Singing Machine Company, Inc., a company
listed on the Nasdaq Stock Market. Throughout his career, Mr. Ault
has provided consulting services to both publicly traded and
privately held companies, offering them the benefit of his diverse
expertise, spanning from development stage to well-established
businesses. With over 27 years of experience, he is a seasoned
business professional and entrepreneur with a track record of
identifying value in various financial markets, including equities,
fixed income, commodities, and real estate.
  
Mr. Ault will not, at the present time, be compensated for his
services as the Company's Executive Chairman.

On March 6, 2023, the Company entered into an Amendment to the
Share Exchange Agreement dated as of February 8, 2023 by and among
Ault Alliance, the owner of approximately 86% of BitNile.com, Inc.,
providing for the acquisition of all of the outstanding shares of
capital stock of BitNile.com, in exchange for (i) 8,637.5 shares of
newly designated Series B Convertible Preferred Stock of the
Company issued to AAI, and (ii) 1,362.5 shares of newly designated
Series C Convertible Preferred Stock of the Company to be issued to
the to the minority shareholders of BitNile.com. The original terms
of the Agreement and each series of Preferred Stock was previously
disclosed in the Company's Current Report on Form 8-K filed by the
Company on February 14, 2023. The Preferred Stock is convertible at
$0.25 per share and is not convertible until the first day after
the record date for seeking shareholder approval.

The parties closed on the Agreement with the amended terms which
are summarized below on March 6, 2023. As a result of the Closing,
BitNile.com became a wholly owned subsidiary of the Company. As
previously disclosed, BitNile.com's principal business entails the
development and operation of a metaverse platform, the beta for
which launched on March 1, 2023.

Pursuant to the Amendment, a new provision was added to the
Agreement which requires that as of the closing, the Company shall
have established a bonus pool pursuant to which, upon the date that
BitNile.com shall have generated $100 million of revenue in the
aggregate, the Company shall pay a bonus in the aggregate amount of
$25 million to three executives of AAI in the following
proportions: (i) $10 million, (ii) $10 million and (iii) $5
million. Such bonus payments will be payable in cash, provided,
however, that if in AAI's reasonable determination the payment of
the foregoing bonus payments would materially and adversely impact
the Company's cash position, AAI shall direct the Company to make
such payments in shares of common stock. The number of shares of
common stock issuable by the Company shall in such case be
determined by dividing the amount of the bonus payment by the
closing sale price of the common stock on the trading day
immediately preceding AAI's determination.

Mr. Ault is one of the three AAI executive officers entitled to
participate in the bonus provided for by the Amendment in the
amount of $10 million if the threshold is met. He acquired 62.5
shares of Series C in exchange for his shares of BitNile.com common
stock.

Joseph M. Spaziano

As previously disclosed on a Current Report on Form 8-K filed with
the Commission on January 29, 2024, the Company appointed Joseph M.
Spaziano as its Chief Operating Officer effective that date.

On the Effective Date, the Company appointed Mr. Spaziano as its
Chief Executive Officer.

Mr. Spaziano, 51, is the Chief Information Officer and Chief
Technology Officer of AAI, where his leadership over the past five
years has been pivotal in transforming the company's technological
framework. His accomplishments include the development of a
multi-use data center for Bitcoin mining, and significantly
enhancing the IT infrastructure and security protocols. Mr.
Spaziano has held multiple certifications from Microsoft and
Google, underscoring his deep expertise in the field. Prior to his
tenure at AAI, he served honorably in the United States Army and
Army Reserve for nine years, a period that ingrained in him a
strong sense of discipline and leadership, which has been
instrumental in his professional achievements.

                    About RiskOn International

Founded in 2011, RiskOn International, Inc. (formerly known as
BitNile Metaverse, Inc.) owns 100% of BNC, including the
BitNile.com metaverse platform.  The Platform, which went live to
the public on March 1, 2023, allows users to engage with a new
social networking community and purchase both digital and physical
products while playing 3D immersive games. In addition to BNC, the
Company also owns two non-core subsidiaries: approximately 66% of
Wolf Energy Services Inc. (OTCQB: WOEN) indirectly and
approximately 89% of Agora Digital Holdings, Inc. directly. RiskOn
also owns approximately 70% of White River Energy Corp (OTCQB:
WTRV).

RiskOn reported a net loss of $87.36 million on zero revenue for
the year ended March 31, 2023, compared to a net loss of $10.55
million on $27,182 of revenues for the year ended March 31, 2022.

As of Dec. 31, 2023, the Company had $101,487 in cash and cash
equivalents.  The Company believes that the current cash on hand is
not sufficient to conduct planned operations for one year from the
issuance of the condensed consolidated financial statements, and it
needs to raise capital to support its operations, raising
substantial doubt about its ability to continue as a going concern.
The Company acquired BitNile.com in March 2023, which has generated
nominal revenue as of December 31, 2023.  Its ability to continue
as a going concern is dependent on its obtaining adequate capital
to fund operating losses until it establishes continued revenue
streams and become profitable.  Management's plans to continue as a
going concern include raising additional capital through sales of
equity securities and borrowing.  However, management cannot
provide any assurances that the Company will be successful in
accomplishing any of its plans.  If the Company is unable to obtain
the necessary additional financing on a timely basis, it will be
required to delay, reduce or perhaps even cease the operation of
its business, according to the Company's Quarterly Report for the
period ended Dec. 31, 2023.

Mr. Spaziano will not, at the present time, be compensated for his
services as the Company's Chief Executive Officer.



RISKON INTERNATIONAL: Noteholder Issues Default Notice
------------------------------------------------------
RiskOn International, Inc. disclosed in a Form 8-K Report filed
with the U.S. Securities and Exchange Commission that on May 1,
2024, the Company received a Notice of Events of Default and
Reservation of Rights letter from one of the investors informing it
that events of default have occurred and are continuing under its
senior secured convertible notes as a result of (i) the failure of
the Company's common stock to be listed on an eligible market; and
(ii) the Company's failure to repay in full the indebtedness due
under the Notes on the maturity date.  RiskOn did not identify the
noteholder.

Pursuant to a securities purchase agreement dated April 27, 2023,
the Company issued to certain accredited investors, senior secured
convertible notes with an aggregate principal face amount of
$6,875,000, which such Notes are convertible into shares of common
stock, par value $0.001 per share of the Company and five-year
warrants to purchase an aggregate of 2,100,905 shares of Common
Stock.

Prior to receipt of the Notice from the Investor, the Company was
attempting to reach a negotiated settlement with the Investor and
remains in discussions with the Investor to do so. Notwithstanding
receipt of the Notice, the Company hopes to continue to work with
all of the Investors to settle its obligations under the SPA. The
Company intends to vigorously defend its position should a mutually
amicable resolution prove unattainable.

                    About RiskOn International

Founded in 2011, RiskOn International, Inc. (formerly known as
BitNile Metaverse, Inc.) owns 100% of BNC, including the
BitNile.com metaverse platform.  The Platform, which went live to
the public on March 1, 2023, allows users to engage with a new
social networking community and purchase both digital and physical
products while playing 3D immersive games. In addition to BNC, the
Company also owns two non-core subsidiaries: approximately 66% of
Wolf Energy Services Inc. (OTCQB: WOEN) indirectly and
approximately 89% of Agora Digital Holdings, Inc. directly. RiskOn
also owns approximately 70% of White River Energy Corp (OTCQB:
WTRV).

As of Dec. 31, 2023, the Company had $101,487 in cash and cash
equivalents.  The Company believes that the current cash on hand is
not sufficient to conduct planned operations for one year from the
issuance of the condensed consolidated financial statements, and it
needs to raise capital to support its operations, raising
substantial doubt about its ability to continue as a going concern.
The Company acquired BitNile.com in March 2023, which has generated
nominal revenue as of December 31, 2023.  Its ability to continue
as a going concern is dependent on its obtaining adequate capital
to fund operating losses until it establishes continued revenue
streams and become profitable.  Management's plans to continue as a
going concern include raising additional capital through sales of
equity securities and borrowing.  However, management cannot
provide any assurances that the Company will be successful in
accomplishing any of its plans.  If the Company is unable to obtain
the necessary additional financing on a timely basis, it will be
required to delay, reduce or perhaps even cease the operation of
its business, according to the Company's Quarterly Report for the
period ended Dec. 31, 2023.



SAM ASH: Case Summary & 30 Largest Unsecured Creditors
------------------------------------------------------
Lead Debtor: Sam Ash Music Corporation
             278 Duffy Ave.
             Hicksville, NY 11802

Business Description: Sam Ash is a national chain that sells
                      instruments, music equipment, microphones,
                      lights, speakers and more.

Chapter 11 Petition Date: May 8, 2024

Court: United States Bankruptcy Court
       District of New Jersey

Twelve affiliates that concurrently filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code:

    Debtor                                             Case No.
    ------                                             --------
    Sam Ash Music Corporation (Lead Case)              24-14727
    Sam Ash New Jersey Megastores, LLC                 24-14725
    Sam Ash California Megastores, LLC                 24-14728
    Sam Ash CT, LLC                                    24-14729
    Sam Ash Florida Megastores, LLC                    24-14730
    Sam Ash Illinois Megastores, LLC                   24-14731
    Sam Ash Megastores, LLC                            24-14732
    Sam Ash Music Marketing, LLC                       24-14733
    Sam Ash Nevada Megastores, LLC                     24-14734
    Sam Ash New York Megastores, LLC                   24-14736
    Sam Ash Quikship Corporation                       24-14737
    Samson Technologies Corporation                    24-14738

Judge: Hon. Stacey L. Meisel

Debtor's Counsel: Michael D. Sirota, Esq.          
                  COLE SCHOTZ P.C.
                  Court Plaza North
                  25 Main Street
                  Hackensack, NJ 07601
                  Tel: 201-489-3000
                  Email: msirota@coleschotz.com

Debtors'
Financial
Advisor:          SIERRACONSTELLATION PARTNERS LLC

Debtors'
Investment
Banker:           CAPSTONE CAPITAL MARKETS, LLC

Sam Ash Music Corporation's
Estimated Assets: $100 million to $500 million

Sam Ash Music Corporation's
Estimated Liabilities: $100 million to $500 million

The petitions were signed by Jordan Meyers as chief restructuring
officer.

A full-text copy of the Lead Debtor's petition is available for
free at PacerMonitor.com at:

https://www.pacermonitor.com/view/WVA5GOI/Sam_Ash_Music_Corporation__njbke-24-14727__0001.0.pdf?mcid=tGE4TAMA

Consolidated List of Debtor's 30 Largest Unsecured Creditors:

   Entity                           Nature of Claim   Claim Amount

1. Yamaha Corporation of America         Trade          $1,892,053
P.O. Box 856250
Minneapolis, MN 55485-6250
Contact: Craig Nakamoto
Phone: 714-522-9011
Email: CNAKAMOTO@YAMAHA.COM

2. Bosch Security Systems Inc.           Trade            $946,303
P.O. Box 7410391
Chicago, IL 60674-0391
Contact: Katherine Leiton
Tel: 952-884-4051
Fax: 952-884-0043
Email: KATHERINE.LEITON@BOSCH.COM

3. Hoshino USA, Inc.                     Trade            $798,980
P.O. Box 536609
Pittsburgh, PA 15253-5908
Contact: Isabel Cuervo
Tel: 800-669-4226
Fax: 215-245-8583
Email: ICUERVO@HOSHINOUSA.COM

4. Roland Corp US                        Trade            $774,544
P.O. Box 512959
Los Angeles, CA 90051-0959
Contact: Jennifer Pronovost
Tel: 800-868-3737
Fax: 323-890-3737
Email: JENNIFER.PRONOVOST@ROLAND.COM

5. Tenlux Goang-Fann Co. Ltd.            Trade            $662,027
3F, No.7, Alley 2 Lane 342
Fu-Der 1st Rd, Hsichih
Taipei Hsien
Taiwan
Tel: 886-2-2693-1323
Fax: 886-2-2694-8990
Email: SALES@TENLUX.COM.TW

6. Alpha Theta Music Americas, Inc.      Trade            $499,274
P.O. Box 25590
Pasadena, CA 91185-5590
Contact: Denise Talpas
Tel: 424-488-6529
Email: DENISE.TALPAS@ALPHATHETA.COM

7. Federal Express                       Trade            $497,101
P.O. Box 371461
Pittsburgh, PA 15250-7461
Contact: Joel Levine
Phone: 800-622-1147
Email: JOEL.LEVINE@FEDEX.COM

8. D'Addario Co.                         Trade            $457,249
P.O. Box 27910
New York, NY 10087
Contact: Tanya Deleon
Tel: 631-439-3300
Fax: 631-439-3333
Email: TANYA.DELEON@DADDARIO.COM

9. Gibson Brands, Inc.                   Trade            $446,262
P.O. Box 735648
Dallas, TX 75373-5648
Contact: Amanda Shelton
Tel: 800-444-2766
Fax: 615-884-9432
Email: AMANDA.SHELTON@GIBSON.COM

10. Homni Enterprises Co., Ltd.          Trade            $417,790
3F, No. 162, Sec. 2
Zhongshan N. Road
Zhongshan Dist.
Taipei City 10452 Taiwan
Phone: 886-2-2598-1010
Email: JEFF@HOMNI-ELEC.COM;
MAY@HOMNI-ELEC.COM

11. Seikaku Technical Group Ltd.         Trade            $394,130
23 Lane 2, Jing Wu Road
Taichung Taiwan
Phone: 852-2727-5475
Email: SEKAKU@SEKAKU.COM

12. Fender Musical Instruments Corp.     Trade            $387,141
P.O. Box 743545
Los Angeles, CA 90074-3545
Contact: Jeremy Deatherage
Tel: 866-605-1299
Fax: 480-596-1385
Email: JDEATHERAGE@FENDER.COM

13. Hal Leonard Publishing Corp.         Trade            $356,662
P.O. Box 127
Winona, MN 55987-0127
Contact: Brandon Laurance
Phone: 800-524-4425
Email: BLORENZ@HALLEONARD.COM

14. Worldwide Express                    Trade            $339,819
P.O. Box 733360
Dallas, TX 75373
Contact: Steven Kyriakou
Phone: 866-735-3681
Email: SKYRIAKOU@WWEX.COM

15. Avedis Zildjian Co.                  Trade            $324,088
P.O. Box 845848
Boston, MA 02284-5848
Contact: Jim Gardner
Tel: 800-229-8672
Fax: 781-871-9652
Email: JOHNS@ZILDJIAN.COM

16. BPREP 333 W 34th LLC                  Rent            $306,154
c/o Brookfield Property Partners
225 Liberty Street
43rd Floor
New York, NY 10281
Email: BPY.ENQUIRIES@BROOKFIELD.COM

17. Drum Workshop, Inc.                  Trade            $305,754
3450 Lunar Court
Oxnard, CA 93030
Contact: Amanda Chuhaloff
Tel: 805-485-6999
Fax: 805-485-1334
Email: AMANDAC@DWDRUMS.COM

18. InMusic Brands, Inc.                 Trade            $295,727
P.O. Box 414040
Boston, MA 02241-4040
Contact: Beth Microulis
Tel: 401-658-3131
Fax: 401-658-3640
Email: BMICROULIS@INMUSICBRANDS.COM

19. QSC, LLC                             Trade            $281,377
P.O. Box 201339
Dallas, TX 75320-1339
Contact: Deborah Escobar
Tel: 800-854-4079
Fax: 714-668-7564

20. PRS Guitars                          Trade            $279,282
380 Log Canoe Circle
Stevensville, MD 21666
Contact: Kathryn Delee
Phone: 410-643-9970
Email: KDELLE@PRSGUITARS.COM

21. Shure Bros, Inc.                     Trade            $242,294
P.O. Box 99265
Chicago, IL 60693
Contact: Nancy Davis
Tel: 847-600-2000
Fax: 847-600-1212
Email: DAVISN@SHURE.COM

22. Yamaha Guitar Group, Inc.            Trade            $226,154
26580 Agoura Road
Calabasas, CA 91302-1921
Contact: Joe Bentivegna
Phone: 818-575-3600
Email: AR@YAMAHAGUITARGROUP.COM

23. SLJ Realty LLC                        Rent            $214,007
1385 Broadway
Floor 16
New York, NY 10018
Contact: George Albero
Phone: 212-221-4700
Email: GEORGE@ICERNYC.COM

24. Gator Cases Inc.                     Trade            $211,188
7851 Woodland Center Blvd.
Tampa, FL 33614
Contact: Mim Edwards
Tel: 813-221-4191
Fax: 813-221-4181
Email: MIMI.EDWARDS@GATORCASES.COM

25. Google                                 Trade          $207,162
P.O. Box 883654
Los Angeles, CA 90088-3654
Contact: Bruno Dalencio
Phone: 503-755-4744
Email: DALENCIO@GOOGLE.COM

26. King of Prussia Center, LLC             Rent          $206,442
c/o Sovereign Property Mgmt, LLC
102 Larch Circle, Suite 3010
Newport, DE 19804
Contact: Dan McBride
Phone: 302-388-9038
Email: DMCBRIDE@SOVPROPERTIES.COM

27. TMP, Division of Jam Ind. USA          Trade          $204,804
JAM Industries USA LLC
P.O. Box 24499
New York, NY 10087-4499
Contact: Diana Aroutiunian
Tel: 800-289-8889
Fax: 860-828-1353
Email: DIANA.AROUTINIAN@JAMIN
DUSTIRES.COM

28. Sennheiser Elec Corp.                  Trade          $204,542
P.O. Box 416611
Boston, MA 02241-6611
Contact: Joann Priest
Tel: 860-598-7458
Fax: 860-434-1759
Email: JOANN.PRIEST@SENNHEISER.COM

29. Kawai America Corp.                    Trade          $203,377
P.O. Box 31001-3409
Pasadena, CA 91110-3409
Contact: Melisse Bridges
Tel: 800-421-2177
Fax: 310-604-6913
Email: MBRIDGES@KAWAIUS.COM

30. Loud Audio, LLC                        Trade          $199,743
P.O. Box 207313
Dallas, TX 75320-7313
Contact: Julie Richardson
Tel: 800-258-6883
Fax: 425-485-1152
Email: JULIR.RICHARDSON@LOUDAUDIO.COM


SCORPIUS HOLDINGS: Regains Compliance With NYSE Listing Standards
-----------------------------------------------------------------
Scorpius Holdings, Inc. disclosed in a Form 8-K filed with the
Securities and Exchange Commission that on April 29, 2024, the
Company received a notice from NYSE Regulation stating that the
Company has now regained compliance with Section 1007 of the NYSE
American Company Guide as a result of its filing of its Annual
Report on Form 10-K for the year ended Dec. 31, 2023 on April 26,
2024.

As previously reported, on April 17, 2024, the Company received a
notice from NYSE Regulation that the Company was not on such date
in compliance with the continued listing standards of the NYSE
American LLC under the timely filing criteria included in Section
1007 of the NYSE American Company Guide because the Company had
failed to timely file its Annual Report on Form 10-K for the year
ended Dec. 31, 2023, which was due to be filed with the Securities
and Exchange Commission no later than April 16, 2024.

                     About Scorpius Holdings

Headquartered in Morrisville, NC, Scorpius Holdings, Inc. provides
process development and biomanufacturing services to support the
biomanufacturing needs of third parties who use its
biomanufacturing capacity as a fee-for-service model through our
subsidiary, Scorpius Biomanufacturing, Inc. (formerly known as
Scorpion Biological Services, Inc.).  Scorpius couples CGMP
biomanufacturing and quality control expertise with cutting edge
capabilities in immunoassays, molecular assays, and bioanalytical
methods to support cell- and gene-based therapies as well as large
molecule biologics using American-made equipment, reagents, and
materials.  The Company anticipates the prioritization of Scorpius
on American-made equipment, reagents, and materials paired with
domestic sourcing of biomanufacturing expertise will make the
Company competitive for U.S. government contracts and biodefense
assets.  The Company anticipates this will successfully support its
expansion within the growing CDMO market.

Raleigh, North Carolina-based BDO USA, P.C., the Company's auditor
since 2012, issued a "going concern" qualification in its report
dated April 26, 2024, citing that the Company has suffered
recurring losses from operations and has not generated significant
revenue or positive cash flows from operations.  These factors
raise substantial doubt about the Company's ability to continue as
a going concern.


SELINA HOSPITALITY: Delays Filing of 2023 Annual Report on Form 20F
-------------------------------------------------------------------
Selina Hospitality PLC has filed with the Securities and Exchange
Commission a Notification of Late Filing on Form 12b-25 as it was
not able to file its Form 20-F for the period ended Dec. 31, 2023
by its original due date of April 30, 2024.

As explained in the 12b-25 Filing, the Company was unable to meet
the filing deadline due, in part, to the appointment of BDO LLP as
its new independent registered public accounting firm in respect of
the Company's financial statements to be audited under Public
Company Accounting Oversight Board standards on Oct. 18, 2023, as
previously disclosed by the Company on such date.  As a result, the
Company's auditors were not able to commence planning their 2023
audit work until late 2023.

In addition, during the third and fourth quarters of 2023 and early
2024, the management team of the Company was focused on the
critical fundraising and liability restructuring transactions that
closed in late January 2024, as set out in the Report on Form 6-K
issued on Jan. 26, 2024, and paused the audit work during this
period.  This meant that the Company was not able to complete
certain of its year-end processes by the end of 2023, including
certain external tax accounting and valuation analyses, which
resulted in the Company's auditors not being able to recommence
their 2023 audit work until February 2024.

In light of the foregoing and since the group currently operates in
over 20 countries and the 2023 PCAOB audit is the first one
conducted by BDO in relation to the Company, and given the complex
fundraising and liability restructuring transactions completed by
the Company in 2023 and early 2024, the Company and its auditors,
to date, have not had sufficient time to complete their required
processes and procedures in order for them to finalize the 2023
year-end PCAOB audit, thereby preventing the Company from filing
its 2023 20-F by the April 30, 2024 filing deadline.  The Company
currently anticipates that such work will be completed and that it
will file its 2023 20-F by the end of July 2024.

                   About Selina Hospitality

Headquartered in London, England, Selina Hospitality PLC is an
operator of lifestyle and experiential Millennial- and Gen
Z-focused hotels, with 118 destinations opened in 24 countries
across 6 continents.

Tysons, Virginia-based Baker Tilly US, LLP, the Company's auditor
since 2021, issued a "going concern" qualification in its report
dated April 28, 2023, citing that the Company has suffered
historical losses from operations, has a net capital deficiency,
negative working capital and cash outflows from operations that
raise substantial doubt about its ability to continue as a going
concern.


SELINA HOSPITALITY: Receives Delisting Notice From NASDAQ
---------------------------------------------------------
Selina Hospitality PLC announced that on April 17, 2024 the Company
received a staff determination letter from the Listing
Qualifications Department of The Nasdaq Stock Market LLC notifying
the Company of the staff's intention to commence the process to
delist the Company's securities because the Company's securities
have had a closing bid price below $0.10 for ten consecutive
trading days, which triggers a notice of delisting pursuant to
Nasdaq Listing Rule 5810(c)(3)(A)(iii).

In addition to the Letter, as previously disclosed, the Company has
been on notice since Sept. 8, 2023 that the closing bid price of
its securities had fallen below $1.00 for 30 consecutive business
days in violation of Nasdaq Listing Rule 5810(c)(3)(A) and since
such date the Company has not regained compliance.  On March 7,
2024, following the transfer of the Company's securities to the
Nasdaq Capital Market, the Company was granted an additional 180
calendar day period, or until Sept. 3, 2024, to regain compliance
with the Minimum Bid Price Rule.  If the Company's securities fail
to regain compliance with the Minimum Bid Price Rule before such
date, Nasdaq will have an additional basis for delisting the
Company's securities.

The Company currently plans to appeal the staff's determination to
a Hearings Panel.  A hearing request will stay the suspension of
the Company's securities and the filing of the Form 25-NSE pending
the Panel's decision.  This hearing has yet to be scheduled, but
once the Company's request for a hearing has been submitted to
Nasdaq, the hearing is expected to be held within the next 45
days.

The Company intends to monitor the closing bid price of its common
stock and may consider implementing available options to regain
compliance with the Minimum Bid Price Rule for continued listing on
the Nasdaq Capital Market, if needed.  Achieving compliance likely
would involve the implementation of the 1:30 reverse stock split
that was approved by shareholders at the Company's general
shareholder meeting on March 26, 2024.

                    About Selina Hospitality PLC

Selina Hospitality PLC (NASDAQ: SLNA)-- Selina.com -- is a global
hospitality brand built to address the needs of millennial and Gen
Z travelers, blending beautifully designed accommodation with
coworking, recreation, wellness, and local experiences.  Founded in
2014 and custom-built for today's nomadic traveler, Selina provides
guests with a global infrastructure to seamlessly travel and work
abroad.  Each Selina property is designed in partnership with local
artists, creators, and tastemakers, breathing new life into
existing buildings in interesting locations in 24 countries on six
continents – from urban cities to remote beaches and jungles.

Tysons, Virginia-based Baker Tilly US, LLP, the Company's auditor
since 2021, issued a "going concern" qualification in its report
dated April 28, 2023, citing that the Company has suffered
historical losses from operations, has a net capital deficiency,
negative working capital and cash outflows from operations that
raise substantial doubt about its ability to continue as a going
concern.


SOCAL CLIMATE: Wins Cash Collateral Access Thru Aug 2
-----------------------------------------------------
The U.S. Bankruptcy Court Central District of California authorized
Socal Climate Control & Mechanical, Inc. to continue using cash
collateral, on an interim basis, in accordance with the budget,
through August 2, 2024.

The Debtor has a need to continue to use cash collateral to pay the
expenses set forth in the budget.

SCCM borrowed nearly $340,000 from accounts receivable lenders. The
service on this debt is nearly $15,000 per week. As a result, SCCM
has found it short on cash and unable to meet its regular operating
expenses such as payroll, insurance, and materials and supplies.

A review of the UCC Search Report conducted at the direction of
Debtor shows that some of the Lenders may not have filed UCC-1
statements to perfect any liens granted to secure their respective
loans.

The following Lenders filed UCC-1 Financing Statements that,
subject to further review, analysis and verification, appear to be
active and have not lapsed: (i) Lennox Industries, Inc.; (ii)
Heating and Cooling Supply LLC; (iii) Ferguson Enterprises, LLC,
(iv) Toyota Industries Commercial Finance, Inc., (v) Daikin Comfort
Technologies Distribution, Inc., and (vi) Corporation Service
Company, as Representative.

As adequate protection for the use of cash collateral, any parties
with a security interest in the Debtor's cash collateral are
granted replacement liens to the same validity, priority, and
extent as their respective liens existed as of March 8, 2024 and in
an amount equal to the diminution in the value of such party's
interest in the cash collateral from and after the Petition Date.

A continued hearing on the matter is set for July 30, 2024 at 1:30
p.m.

A copy of the court's order and the Debtor's budget is available at
https://urlcurt.com/u?l=xLDGGI from PacerMonitor.com.

The Debtor projects total outflows, on a weekly basis, as follows:

     $173,940 for the week ending May 12, 2024;
     $179,940 for the week ending May 19, 2024; and
     $188,117 for the week ending May 26, 2024.

           About Socal Climate Control & Mechanical, Inc.

Socal Climate Control & Mechanical, Inc. sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No.
24-10371) on March 8, 2024. In the petition signed by Tammy
Navarro, president, the Debtor disclosed $1,532,802 in total assets
and $1,344,211 in total liabilities.

Judge Martin R. Barash oversees the case.

Thomas B. Ure, Esq., at Ure Law Firm, represents the Debtor as
legal counsel.


STAFFING 360: Gets Nasdaq Notice for Non-Filing of Annual Report
----------------------------------------------------------------
Staffing 360 Solutions, Inc. reported that it received a letter
from the Listing Qualifications Department of the Nasdaq Stock
Market LLC  notifying the Company that it is not in compliance with
the requirements of Nasdaq Listing Rule 5250(c)(1) as a result of
not having timely filed its Annual Report on Form 10-K with the
Securities and Exchange Commission for the period ended Dec. 30,
2023.

Pursuant to the letter, The Nasdaq Hearings Panel will consider the
late filing in its decision regarding the Company's continued
listing on The Nasdaq Capital Market.  Staffing 360 has until June
17, 2024 to present its views in writing with respect to the filing
deficiency.

                  About Staffing 360 Solutions, Inc.

Staffing 360 Solutions, Inc. -- http://www.staffing360solutions.com
-- is engaged in the execution of a buy-integrate-build strategy
through the acquisition of staffing organizations in the United
States.  The Company believes that the staffing industry offers
opportunities for accretive acquisitions, and as part of its
targeted consolidation model, is pursuing acquisition targets in
the finance and accounting, administrative, engineering, IT, and
light industrial staffing space.

Staffing 360 said, "We have an unsecured payment due in the next 12
months associated with a historical acquisition and secured current
debt arrangements representing approximately $8,469 which are in
excess of cash and cash equivalents on hand, in addition to funding
operational growth requirements.  Historically, we have funded such
payments either through cash flow from operations or the raising of
capital through additional debt or equity.  If we are unable to
obtain additional capital, such payments may not be made on time.
These factors raise substantial doubt as to our ability to continue
as a going concern."


STALWART PLASTICS: Committee Taps Riveron RTS as Financial Advisor
------------------------------------------------------------------
The official committee of unsecured creditors of Stalwart Plastics,
Inc. seeks approval from the U.S. Bankruptcy Court for the Middle
District of Georgia to hire Riveron RTS, LLC as its financial
advisor.

The firm's services include:

      (a) assistance in the analysis, review and monitoring of the
restructuring process, including, but not limited to an assessment
of potential recoveries for general unsecured creditors;

      (b) assistance in the assessment and monitoring of any sales
process conducted on behalf of the Debtor and analysis of proposed
consideration;

      (c) assistance in the review of financial information
prepared by the Debtor, including, but not limited to, cash flow
projections and budgets, business plans, cash receipts and
disbursements analysis, asset and liability analysis, and the
economic analysis of proposed transactions for which Court approval
is sought;

      (d) assistance in the review of the Debtor's prepetition
financing, including, but not limited to, evaluating the Debtor's
capital structure, financing agreements, defaults under any
financing agreement and forbearances;

      (e) assistance with the review of the Debtor's analysis of
business assets, the potential disposition or liquidation of the
same, and assistance regarding the review and assessment of any
sales process relating to the same;

      (f) attendance at meetings and assistance in discussions with
the Debtor, potential investors, banks, other secured lenders, the
Committee and any other official committees organized in this
chapter 11 case;

      (g) assistance in the review of financial related disclosures
required by the Court, including the Schedules of Assets and
Liabilities, the Statement of Financial Affairs and Monthly
Operating Reports;

      (h) assistance with the evaluation, analysis and forensic
investigation of avoidance actions, including fraudulent
conveyances and preferential transfers and certain transaction
between the Debtor and affiliated entities;

      (i) provision of such other general business consulting or
such other assistance as the Committee or its counsel may deem
necessary that are consistent with the role of a financial advisor;
and

      (j) assistance and support in the evaluation of
restructuring, sale and liquidation alternatives.

Andrew J. Bekker, a managing director at Riveron RTS, will be the
primary professional for the Committee and that he will provide
services on an hourly basis at $495 per hour.

Mr. Bekker 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 J. Bekker, CFA
     Riveron RTS, LLC
     3414 Peachtree Road NE, Suite 850
     Atlanta, GA 30326
     Telephone: (770) 628-0800
     Email: andrew.bekker@riveron.com

            About Stalwart Plastics, Inc.

Stalwart Plastics, Inc. sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. M.D. Ga. Case No. 24-40194) on March
29, 2024. In the petition signed by Angelina Valero, chief
financial officer, the Debtor disclosed up to $50 million in both
assets and liabilities.

David L. Bury, Jr., Esq., at STONE & BAXTER, LLP, represents the
Debtor as legal counsel.


STEWARD HEALTH: Paul Hastings Represents ABL Parties
----------------------------------------------------
The law firm of Paul Hastings LLP filed a verified statement
pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure
to disclose that in the Chapter 11 cases of Steward Health Care
System LLC and affiliates, the firm represents the ABL Parties.

On or around December 6, 2023, the ABL Parties retained Paul
Hastings as counsel in connection with a potential restructuring of
the Debtors. Each member of the ABL Parties has consented to
Counsel's representation.

The ABL Parties are comprised of the Administrative Agent and
parties that are either the beneficial holders of, or the
investment advisors or managers to, funds and/or accounts that hold
disclosable economic interests in relation to the Debtors.

Counsel represents only the ABL Parties and does not represent or
purport to represent any persons or entities other than the ABL
Parties in connection with the Chapter 11 Cases. In addition, as of
the date of this Verified Statement, the ABL Parties, both
collectively and individually, do not represent or purport to
represent any other persons or entities in connection with the
Chapter 11 Cases.

The names, addresses, and disclosable economic interests of all the
members of the ABL Parties, are as follows:

1. Sound Point Capital Management, LP
   375 Park Avenue, 34th Floor
   New York, NY 10152
   * $139,080,375.00

2. Oaktree Capital Management, L.P., solely as Investment
   Manager on behalf of certain funds and accounts
   333 South Grand Ave., 28th Floor
   Los Angeles, CA 90071
   * $108,173,625.00

Counsel to the ABL Parties:

     PAUL HASTINGS LLP
     James T. Grogan III, Esq.
     Schlea M. Thomas, Esq.
     600 Travis Street, 58th Floor
     Houston, Texas 77002
     Telephone: (713) 860-7300
     Facsimile: (713) 353-3100
     Email: jamesgrogan@paulhastings.com
            schleathomas@paulhastings.com

            -and-

     Kristopher M. Hansen, Esq.
     Christopher M. Guhin, Esq.
     Emily L. Kuznick, Esq.
     Caroline M. Diaz, Esq.
     200 Park Avenue
     New York, New York 10166
     Telephone: (212) 318-6000
     Facsimile: (212) 319-4090
     Email: krishansen@paulhastings.com
            chrisguhin@paulhastings.com
            emilykuznick@paulhastings.com
            carolinediaz@paulhastings.com  

                  About Steward Health Care

Steward Health Care System LLC owns and operates the largest
private physician-owned for-profit healthcare network in the U.S.
Headquartered in Dallas, Texas, Steward's operations include 31
hospitals in eight states, approximately 400 facility locations,
4,500 primary and specialty care physicians, 3,600 staffed beds,
and nearly 30,000 employees.  Steward Health Care provides care to
more than two million patients annually.

Steward and 166 affiliated debtors filed a chapter 11 petitions
(Bankr. S.D. Texas Lead Case No. 24-90213) on May 6, 2024, in the
U.S. Bankruptcy Court for the Southern District of Texas, and the
Honorable Christopher M. Lopez oversees the proceeding.

Weil, Gotshal & Manges LLP is serving as the Company's legal
counsel. AlixPartners, LLP is providing financial advisory services
to the Company, and John Castellano of AlixPartners is serving as
the Company's Chief Restructuring Officer. Lazard Freres & Co. LLC,
Leerink Partners LLC, and Cain Brothers, a division of KeyBanc
Capital Markets Inc. are providing investment banking services to
the Company.  McDermott Will & Emery is special corporate and
regulatory counsel for the company.  Kroll is the claims agent.


STREAMLINE HEALTH: Gets 180-Day Extension to Comply With Nasdaq
---------------------------------------------------------------
Streamline Health Solutions, Inc. disclosed in a Form 8-K filed
with the Securities and Exchange Commission that on April 23, 2024,
the Company received a letter from the Listing Qualifications
Department of the Nasdaq Stock Market informing the Company that,
while the Company has not regained compliance with the Minimum Bid
Price Requirement, the Staff has determined that the Company is
eligible for an additional 180 calendar day period, or until Oct.
21, 2024, to regain compliance.  If at any time during the Second
Compliance Period, the closing bid price of the Common Stock is at
least $1.00 per share for a minimum of 10 consecutive business
days, the Staff will provide the Company with written confirmation
of compliance.  If compliance with the Minimum Bid Price
Requirement cannot be demonstrated by Oct. 21, 2024, the Staff will
provide written notification that the Common Stock will be
delisted.  At that time, the Company may appeal the Staff's
determination to a Hearings Panel.

On Oct. 24, 2023, the Company received a letter from Nasdaq
indicating that the closing bid price of the Company's common
stock, par value $0.01 per share, had been below the minimum bid
price of $1.00 per share for the previous 30 consecutive business
days, which is required for continued listing on The Nasdaq Capital
Market pursuant to Nasdaq Listing Rule 5550(a)(2).  Pursuant to
Nasdaq Listing Rule 5810(c)(3)(A), the Company was initially
provided 180 calendar days, or until April 22, 2024, to regain
compliance with the Minimum Bid Price Requirement.

                          About Streamline

Incorporated in 1989, Streamline Health Solutions, Inc. --
http://www.streamlinehealth.net/-- is a provider of solutions and
services in the middle of the revenue cycle for healthcare
providers throughout the United States and Canada.  Streamline
Health's technology helps hospitals improve their financial
performance by optimizing data and coding for every patient
encounter prior to bill submission.  By performing these activities
before billing, providers can drive net revenue through reduced
revenue leakage, overbilling, and days in accounts receivable.
This enables providers to achieve more predictable revenue streams
using technology rather than manual intervention.

"To date, the Company has not generated sufficient revenues to
allow it to generate cash flow from operations.  The Company has
historically accumulated losses and used cash from its financing
activities to supplement its operations.  Further, the Company's
current forecast projects the Company will not be able to maintain
compliance with certain of its financial covenants under its
current credit agreement in the next twelve months.  These
conditions raise substantial doubt about the ability of the Company
to continue as a going concern within one year after the date that
the financial statements are issued," Streamline Health stated in
its Quarterly Report for the period ended Oct. 31, 2023.


SUITED CONNECTOR: BlackRock DLC Marks $1.4MM Loan at 27% Off
------------------------------------------------------------
BlackRock Direct Lending Corp has marked its $1,436,616 loan
extended to Suited Connector, LLC to market at $1,048,730 or 73% of
the outstanding amount, as of March 31, 2024, according to a
disclosure contained in BlackRock DLC's Form 10-Q for the quarterly
period ended March 31, 2024, filed with the U.S. Securities and
Exchange Commission.

BlackRock DLC is a participant in a First Lien Term Loan to Suited
Connector. The loan accrues interest at a rate of 13.5% (SOFR (Q) +
6.20% Cash + 2.00% Payment In Kind, 1% Floor) per annum. The loan
matures on December 1, 2027.

BlackRock DLC is a Delaware corporation formed on October 12, 2020
as an externally managed, closed-end, non-diversified management
investment company. The Company elected to be regulated as a
business development company under the Investment Company Act of
1940, as amended. The Company invests primarily in middle-market
companies headquartered in North America. The Company commenced
operations on November 30, 2020. BlackRock DLC's fiscal year ends
December 31.

Suited Connector, LLC, doing business as MORTGAGE.INFO, is a
mortgage lender matching company.



SUITED CONNECTOR: BlackRock DLC Marks $226,048 Loan at 27% Off
--------------------------------------------------------------
BlackRock Direct Lending Corp has marked its $226,048 loan extended
to Suited Connector, LLC to market at $165,015 or 73% of the
outstanding amount, as of March 31, 2024, according to a disclosure
contained in BlackRock DLC's Form 10-Q for the quarterly period
ended March 31, 2024, filed with the U.S. Securities and Exchange
Commission.

BlackRock DLC is a participant in a Senior Secured Revolver Loan to
Suited Connector. The loan accrues interest at a rate of 13.52%
(SOFR (Q) + 6.20% Cash + 2.00% Payment In Kind, 1% Floor) per
annum. The loan matures on December 1, 2027.

BlackRock DLC is a Delaware corporation formed on October 12, 2020
as an externally managed, closed-end, non-diversified management
investment company. The Company elected to be regulated as a
business development company under the Investment Company Act of
1940, as amended. The Company invests primarily in middle-market
companies headquartered in North America. The Company commenced
operations on November 30, 2020. BlackRock DLC's fiscal year ends
December 31.

Suited Connector, LLC, doing business as MORTGAGE.INFO, is a
mortgage lender matching company.



SYNAPSE FINANCIAL: Court OKs Interim Cash Collateral Access
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California,
San Fernando Valley Division, authorized Synapse Financial
Technologies, Inc. to use cash collateral, on an interim basis, in
accordance with the budget, with a 10% variance, until the earlier
to occur of (a) May 14, 2024, and (b) the Termination Date.

As of the Petition Date, pursuant to the Loan and Security
Agreement, dated as of February 19, 2021 among the Debtor and
Silicon Valley Bank, a division of First-Citizens Bank & Trust
Company (successor by purchase to the Federal Deposit Insurance
Corporation as Receiver for Silicon Valley Bridge Bank, N.A.) the
Debtor was indebted to SVB in the aggregate principal amount of not
less than $1.513 million.

As of the Petition Date, pursuant to the Plain English Growth
Capital Loan and Security Agreement, dated on July 29, 2022 among
Borrower and TriplePoint Capital LLC. The Debtor was indebted to
TPC in the aggregate amount of not less than $6.722 million.

In addition to all the existing security interests and liens
previously granted to SVB and Triple Point, as adequate protection
for, and to secure the payment of an amount equal to the diminution
of the value of the prepetition collateral, the Secured Creditors
are granted continuing, valid, binding, enforceable, non-avoidable,
and automatically and properly perfected postpetition security
interests in and liens on all prepetition and postpetition tangible
and intangible property and assets.

The Secured Creditors are also granted superpriority administrative
expense claims in the Debtor's bankruptcy case and any successor
cases with priority over all other administrative expense claims
and unsecured claims against the Debtor or its estate.

A continued hearing on the matter is set for May 9 at 9 a.m.

A copy of the order is available at https://urlcurt.com/u?l=G7k2sT
from PacerMonitor.com.

               About Synapse Financial Technologies

Headquartered in San Francisco, California, Synapse Financial
Technologies, Inc. -- https://synapsefi.com/ -- is a
banking-as-a-service platform for embedded finance solutions
worldwide.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. C.D. Cal. Case No. 24-10646) on April 22,
2024. In the petition signed by Sankaet Pathak, chief executive
officer, the Debtor disclosed up to $50 million assets and
liabilities.

Judge Martin R. Barash oversees the case.

Ron Bender, Esq., at LEVENE, NEALE, BENDER, YOO & GOLUBCHIK L.L.P.,
represents the Debtor as legal counsel.


SYNIVERSE CORP: S&P Alters Outlook to Positive, Affirms 'CCC+' ICR
------------------------------------------------------------------
S&P Global Ratings revised its outlook to positive from negative
and affirmed all its ratings on U.S.-based Syniverse Corp.,
including its 'CCC+' issuer credit rating.

The positive outlook reflects the potential for a higher rating if
Syniverse continues increasing EBITDA with positive FOCF such that
leverage declines below 7.5x on a sustained basis.

S&P said, "The outlook revision reflects Syniverse's improving
revenue and earnings trends, which we expect will continue leverage
reduction and sustain FOCF over the next year. Improving operating
trends in its Carrier and Enterprise businesses because of secular
tailwinds from a supportive global air travel and macroeconomic
environment have led to solid earnings growth. In 2023, both
segments' direct profit increased by about 6% percent because of
these factors, increased data consumption growth and new business
wins. Additionally, Syniverse continues to prudently take costs out
of the business, which expanded margin 200 basis points (bps)
during the year, a trend we expect will continue in 2024.

"We believe the company has good prospects to reduce leverage to
the mid-7x area in 2024 and low-7x area in 2025 despite the
elevated payment-in-kind (PIK) rate of the preferred instrument,
which we treat as debt-like."

Syniverse's operating performance remains dependent upon favorable
macroeconomic conditions, which could curtail credit metric
improvement. Notwithstanding the potential for a higher rating over
the next year, most of the company's earnings, particularly in
Enterprise, are volume-based and sensitive to changes in the
broader macroenvironment. Reduced travel or deteriorating economic
conditions could pressure cash flow and limit leverage improvement.
S&P said, "While we acknowledge that volume growth and new business
wins at both Carrier and Enterprise have enabled the company's
financial performance to materially exceed our expectations, we
remain cautious about the longer-term forecast, particularly given
the uncertain macroeconomic environment. Our base-case forecast
does not consider a significant pullback in consumer or business
spending, although S&P Global economists expect low growth globally
the next couple of years. Additionally, regulatory issues reduced
one Asia-Pacific (APAC) country's use of third-party messaging
apps, and we do not expect this issue to resolve soon."

S&P said, "We expect Syniverse will maintain sufficient liquidity
over the next 12-18 months, with improving free cash flow the next
couple of years. Our base-case forecast now assumes the company
will generate FOCF of about $15 million in 2024 and $40 million in
2025 as working capital headwinds subside. As of Feb. 29, Syniverse
had a cash balance of about $40 million and about $90 million of
availability under the two senior secured revolving credit
facilities due in 2027, providing incremental liquidity support."

The positive outlook reflects the potential for a higher rating if
Syniverse continues increasing EBITDA and positive FOCF such that
leverage declines below 7.5x on a sustained basis.

S&P could revise its outlook to stable or negative on Syniverse
if:

-- Its revenue, EBITDA, and cash flow significantly underperform
S&P's base case due to a weak macroeconomic and global air travel
environment; and

-- It cannot at least maintain stable adjusted leverage and
generate modest positive FOCF.

S&P could raise its ratings on Syniverse if it:

-- Sustains earnings growth and FOCF over the next year;

-- Allocates excess cash flow to debt reduction;

-- Sustains EBITDA interest coverage above 1.5x; and

-- Reduces leverage below 7.5x on a sustained basis.



TARGET GROUP: Incurs $193K Net Loss in First Quarter
----------------------------------------------------
Target Group Inc. filed with the Securities and Exchange Commission
its Quarterly Report on Form 10-Q reporting a net loss of $193,168
on $1.92 million of revenue for the three months ended March 31,
2024, compared to a net loss of $745,709 on $0 of revenue for the
three months ended March 31, 2023.

As of March 31, 2024, the Company had $7.07 million in total
assets, $14.14 million in total liabilities, and a total
stockholders' deficiency of $7.07 million.

Target Group said, "The Company has earned minimal revenue since
inception to date and has sustained operating losses during the
three months ended March 31, 2024.  The Company had a working
capital deficit of $11,289,851 and an accumulated deficit of
$31,300,516 as of March 31, 2024.  The Company's continuation as a
going concern is dependent on its ability to generate sufficient
cash flows from operations to meet its obligations and/or obtaining
additional financing from its members or other sources, as may be
required.

"The unaudited accompanying condensed consolidated interim
financial statements have been prepared assuming that the Company
will continue as a going concern up to at least 12 months from the
balance sheet date; however, the above condition raises substantial
doubt about the Company's ability to do so."

A full-text copy of the Form 10-Q is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001586554/000141057824000628/tmb-20240331x10q.htm

                         About Target Group

Headquartered in Ontario, Canada, Target Group Inc. is engaged in
the cultivation, processing and distribution of curated cannabis
products for the medical and adult-use recreational cannabis market
in Canada and, where legalized by state legislation, in the United
States.

Spokane, Washington-based Fruci & Associates II, PLLC, the
Company's auditor since 2017, issued a "going concern"
qualification in its report dated March 20, 2024, citing that the
Company has an accumulated deficit, net losses, and a working
capital deficit. These factors, among others, raise substantial
doubt about the Company's ability to continue as a going concern.


TCP COMMUNICATIONS: Taps Houston Roderman as Bankruptcy Counsel
---------------------------------------------------------------
TCP Communications, LLC seeks approval from the U.S. Bankruptcy
Court for the Southern District of Florida to hire Houston
Roderman, PLLC as its general bankruptcy counsel.

The firm will render these services:

     a. advise the Debtor with respect to its powers and duties as
debtor-in- possession and generally advise on matters of bankruptcy
law in connection with this case;

     b. advise the Debtor with respect to its responsibilities in
complying with the U.S. Trustee's Operating Guidelines, Reporting
Requirements and with the Bankruptcy Code, the Federal Rules of
Bankruptcy Procedure, applicable bankruptcy rules, including local
rules, pertaining to the administration of the case;

     c. prepare motions, applications answers, orders, reports and
any other legal documents necessary in the administration of the
case;

     d. negotiate with creditors, prepare and seek confirmation of
a plan of reorganization and related documents, and assist the
Debtor with implementation of any plan;

     e. review executory contracts and unexpired leases, if any;

     f. negotiate and document any financing matters;

     g. advise the Debtor regarding immediate litigation issues;

     h. protect the interest of the Debtor in all matters pending
before the Court; and

     i. undertake the filing and prosecution of any claims or
actions against creditors or other third parties.  

The firm will be paid at these rates:

     Partner               $595 per hour
     Associates            $450 per hour
     Paraprofessionals     $150-$185 per hour

The firm received an initial retainer in the amount of $50,000.

Bart Houston, Esq., an attorney at Houston Roderman, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtor and its estates.

The firm can be reached through:

     Bart A. Houston, Esq.
     HOUSTON RODERMAN, PLLC
     633 S. Andrews Avenue, Suite 500
     Fort Lauderdale, FL 33301
     Tel: (954) 900-2615
     Email: bhouston@thehoustonfirm.com    

                  About TCP Communications, LLC

TCP Communications, LLC filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No.
24-13938) on April 24, 2024, listing $500,001 to $1 million in
assets and $100,001 to $500,000 in liabilities.

Bart A Houston, Esq. at Houston Roderman, PLLC represents the
Debtor as counsel.


TRANSOCEAN LTD: Posts $98 Million Net Income in First Quarter
-------------------------------------------------------------
Transocean Ltd. filed with the Securities and Exchange Commission
its Quarterly Report on Form 10-Q reporting net income of $98
million on $763 million of contract drilling revenues for the three
months ended March 31, 2024, compared to a net loss of $465 million
on $649 million of contract drilling revenues for the three months
ended March 31, 2023.

As of March 31, 2024, the Company had $19.94 billion in total
assets, $1.38 billion in total current liabilities, $8.03 billion
in total long-term liabilities, and $10.52 billion in total
equity.

At March 31, 2024, the Company had $446 million in unrestricted
cash and cash equivalents and $270 million in restricted cash and
cash equivalents.  In the three months ended March 31, 2024, the
Company's primary sources of cash were net cash proceeds from
disposal of assets.  The Company's primary uses of cash were
repayments of debt, net cash used in operating activities and
capital expenditures.

"Over the first months of 2024, Transocean has achieved some fairly
significant milestones.  First, we secured a 365-day extension on
Deepwater Asgard at a rate of $505,000 per day, once again
demonstrating the sustained tightness in the high-specification
floater market as well as Transocean's ability to command
industry-leading dayrates," said Chief Executive Officer Jeremy
Thigpen.

"Additionally, earlier this month we finalized a $1.8 billion debt
refinancing transaction, enabling us to improve near-term liquidity
and start the process of simplifying our balance sheet.  We also
completed the extension of our revolving credit facility to
mid-2028, further enhancing our financial flexibility."

Thigpen concluded, "Looking ahead, we remain encouraged by the
demand outlook and expect to see numerous long-term contracts
awarded over the next several months.  As we work to secure those
contracts, we will remain acutely focused on operational execution
across our fleet, as we endeavor to maximize the conversion of our
industry-leading backlog to cash."

A full-text copy of the Form 10-Q is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001451505/000145150524000056/rig-20240331x10q.htm

                           About Transocean

Transocean Ltd. is an international provider of offshore contract
drilling services for oil and gas wells.  The Company specializes
in technically demanding sectors of the offshore drilling business
with a particular focus on ultra-deepwater and harsh environment
drilling services.

Transocean reported a net loss of $954 million in 2023, a net loss
of $621 million in 2022, a net loss of $591 million in 2021, a net
loss of $568 million in 2020 and a net loss of $1.25 billion in
2019. As of Dec. 31, 2023, the Company had $20.25 billion in total
assets, $1.39 billion in total current liabilities, $8.44 billion
in total long-term liabilities, and $10.42 billion in total
equity.

                               *    *    *

As reported by the TCR on Sept. 28, 2023, S&P Global Ratings raised
its issuer credit rating on offshore drilling contractor Transocean
Ltd. to 'CCC+' from 'CCC'.  S&P said, "The upgrade reflects
improved rig demand, higher day rates, and our view that there is
reduced near-term risk of a distressed debt exchange or balance
sheet restructuring."


TRINITY PLACE: Agrees With CEO to Extend Employment Until July 2024
-------------------------------------------------------------------
Trinity Place Holdings Inc. disclosed in a Form 8-K filed with the
Securities and Exchange Commission that on April 26, 2024, the
Company and Matthew Messinger, the chief executive officer of the
Company, entered into an amendment to Mr. Messinger's employment
agreement, dated as of Oct. 1, 2013, as amended by the Amendment to
Employment Agreement, dated as of Sept. 11, 2015 and the Company's
joint venture, TPHGreenwich Holdings LLC, and Mr. Messinger entered
into a consulting agreement.  Under the Amendment, the Company
agreed to make the following payments to Mr. Messinger in exchange
for Mr. Messinger's agreement to continue his employment as chief
executive officer of the Company until July 31, 2024, unless
extended by the parties, and that he will no longer have the right
to terminate the Employment Agreement with Good Reason: (i)
$300,000 within seven days of execution of the Amendment, (ii)
$300,000 on Aug. 1, 2024 and (iii) $300,000 on Nov. 1, 2024.  In
addition, on the Termination Date, Mr. Messinger's unvested
restricted stock unit grants shall vest, and following the
Termination Date, the Company will reimburse Mr. Messinger for
COBRA continuation coverage for a period of 18 months.  These
payments, as well as the payments under the Consulting Agreement,
will constitute full settlement with regards to any severance
payable to Mr. Messinger under the Employment Agreement.

Under the terms of the Amendment, for so long as Mr. Messinger is
not in breach of the Amendment or the Consulting Agreement, to the
extent that a seat on the Company's board of directors is then
available, until June 30, 2026, TPHS Lender LLC, a Delaware limited
liability company will exercise its vote as shareholder in favor of
electing Mr. Messinger to the Company's board of directors, in
addition to its existing board appointment rights.

Upon the Termination Date, the Consulting Agreement will
automatically become effective, unless the Employment Agreement is
otherwise terminated in accordance with its terms.  Under the
Consulting Agreement, Mr. Messinger has agreed to provide certain
consulting services as an independent contractor to TPHGreenwich
related to the properties owned by TPHGreenwich, in exchange for
certain consulting payments as follows: upon the earlier to occur
of June 1, 2026 and (i) the sale of the Company's Paramus property,
$200,000, (ii) the sale of the property at 237 11th Street,
Brooklyn, New York, $800,000, (iii) the receipt of the final
certificate of occupancy at the 42 Trinity Place Condominium
located at 77 Greenwich Street, New York, New York, $150,000, (iv)
the receipt of the agreement by the builder to complete the façade
remediation at the 77G Property, $150,000, (v) final completion of
the façade remediation at the 77G Property, $200,000 and (vi)
final resolution of the litigation related to the 237 11th
Property, $400,000.  The timing of the payments is conditioned on
the existence of Available Cash (as defined in TPHGreenwich's
operating agreement) sufficient to make such payments; provided
that TPHGreenwich must create a special reserve for payment of such
amounts using the portion of the proceeds of the sale of the 237
11th Property or 237 11th Litigation distributed to TPHGreenwich by
its subsidiaries which constitutes Available Cash.  The Consulting
Agreement will remain in effect until June 1, 2026, unless sooner
terminated in accordance with its terms.

In addition, on April 26, 2024, Alan Cohen tendered his resignation
from the board of directors of the Company, effective immediately.
There are no disagreements between Mr. Cohen and the Company
relating to the Company's operations, policies or practices that
resulted in Mr. Cohen's decision to resign.

                       About Trinity Place

Trinity Place Holdings Inc. is a real estate holding, investment,
development and asset management company.  On Feb. 14, 2024, the
Company's real estate assets and related liabilities were
contributed to TPHGreenwich Holdings LLC, which is owned 95% by the
Company, with an affiliate of the lender under the Company's
corporate credit facility owning a 5% interest in, and acting as
manager of, such entity.  These real estate assets include (i) the
property located at 77 Greenwich Street in Lower Manhattan, which
is substantially complete as a mixed-use project consisting of a
90-unit residential condominium tower, retail space and a New York
City elementary school, (ii) a 105-unit, 12-story multi-family
property located at 237 11th Street in Brooklyn, New York, and
(iii) a property occupied by retail tenants in Paramus, New
Jersey.

Trinity Place reported a net loss attributable to common
stockholders of $39.02 million in 2023, a net loss attributable to
common stockholders of $20.7 million in 2022, and a net loss
attributable to common stockholders of $20.80 million in 2021.  As
of December 31, 2023, the Company had $267.51 million in total
assets, $277.55 million in total liabilities, and $10.05 million in
total stockholders' deficit.


TRUMP MEDIA: Hires Semple Marchal to Replace BF Borgers as Auditor
------------------------------------------------------------------
Trump Media & Technology Group Corp. disclosed in a Form 8-K filed
with the Securities and Exchange Commission that it dismissed BF
Borgers CPA PC as its independent registered public accounting
firm. On May 4, 2024, the Company engaged Semple, Marchal & Cooper,
LLP as BF Borgers' replacement.  The decision to change independent
registered public accounting firms was made with the recommendation
and approval of the Audit Committee of the Company.

BF Borgers' audit reports on the Company's consolidated financial
statements as of and for the fiscal years ended Dec. 31, 2023 and
Dec. 31, 2022 did not contain an adverse opinion or a disclaimer of
opinion and were not qualified or modified as to audit scope or
accounting principles.

During the fiscal years ended Dec. 31, 2023 and 2022, and the
subsequent interim period through the date of this report, there
were no disagreements, as that term is defined in Item
304(a)(1)(iv) of Regulation S-K, between the Company and BF Borgers
on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure, which
disagreements, if not resolved to BF Borgers' satisfaction, would
have caused BF Borgers to make reference to such disagreements in
its audit reports.

During the fiscal years ended Dec. 31, 2023 and 2022, and the
subsequent interim period through May 6, 2024, there were no
reportable events within the meaning of Item 304(a)(1)(v) of
Regulation S-K.

The U.S. Securities and Exchange Commission has advised that, in
lieu of obtaining a letter from BF Borgers stating whether or not
it agrees with the statements above, the Company may indicate that
BF Borgers is not currently permitted to appear or practice before
the SEC for reasons described in the SEC's Order Instituting Public
Administrative and Cease-and-Desist Proceedings Pursuant to Section
8A of the Securities Act of 1933, Sections 4C and 21C of the
Securities Exchange Act of 1934 and Rule 102(e) of the Commission's
Rules of Practice, Making Findings, and Imposing Remedial Sanctions
and a Cease-and-Desist Order, dated May 3, 2024.

Meanwhile, TMTG anticipates seeking a limited extension of the
deadline for its upcoming 10-Q by filing a Form 12b-25 no later
than one business day after the original due date for such report.

                           About TMTG

Trump Media & Technology Group Corp. (formerly known as Digital
World Acquisition Corp.) operates Truth Social, a social media
platform established as a safe harbor for free expression amid
increasingly harsh censorship by Big Tech corporations.

Ocean, New Jersey-based Adeptus Partners, LLC, the Company's
auditor since 2023, issued a "going concern" qualification in its
report dated April 1, 2024, citing that it is uncertain that the
Company will consummate a business merger in the allotted time.  If
a business merger is not consummated by the specified date, there
will be a mandatory liquidation and subsequent dissolution of the
Company.  Additionally, the Company has incurred and expects to
incur significant cost in pursuit of its acquisition plans.  These
factors raise a substantial doubt about its ability to continue as
a going concern.


VOIP-PAL.COM: Hikes Authorized Capital Stock to 8 Billion Shares
----------------------------------------------------------------
VoIP-PAL.com Inc. disclosed in a Form 8-K filed with the Securities
and Exchange Commission that on Feb. 15, 2024, the holders of a
majority of the issued and outstanding stock of the Company
approved an increase in the Company's authorized capital from
5,000,000,000 shares of common stock, par value $0.001 per share,
to 8,000,000,000 shares of common stock, par value $0.001 per
share.  On April 23, 2024, the Company formally completed the
Authorized Capital Increase by filing a Certificate of Amendment
with the Nevada Secretary of State.

                        About VOIP-PAL.com

Since March 2004, VOIP-PAL.com has developed technology and patents
related to Voice-over-Internet Protocol (VoIP) processes.  All
business activities prior to March 2004 have been abandoned and
written off to deficit.  Since March 2004, the Company has been in
the development stage of becoming a Voice-over-Internet Protocol
("VoIP") re-seller, a provider of a proprietary transactional
billing platform tailored to the points and air mile business, and
a provider of anti-virus applications for smartphones.

Vancouver, Canada-based Davidson & Company LLP, the Company's
auditor since 2015, issued a "going concern" qualification in its
report dated Dec. 20, 2023, citing that the Company has suffered
recurring losses from operations that raise substantial doubt about
its ability to continue as a going concern.

VoIP-PAL.COM said, "The Company is in various stages of product
development and continues to incur losses and, as at December 31,
2023, had an accumulated deficit of $93,754,457 (September 30, 2023
- $93,185,588).  The ability of the Company to continue operations
as a going concern is dependent upon raising additional working
capital, settling outstanding debts and generating profitable
operations.  These material uncertainties raise substantial doubt
about the Company's ability to continue as a going concern.  Should
the going concern assumption not continue to be appropriate,
further adjustments to carrying values of assets and liabilities
may be required.  There can be no assurance that capital will be
available as necessary to meet these continued developments and
operating costs or, if the capital is available, that it will be on
terms acceptable to the Company.  The issuances of additional stock
by the Company may result in a significant dilution in the equity
interests of its current shareholders.  Obtaining commercial
loans,
assuming those loans would be available, will increase the
Company's liabilities and future cash commitments.  If the Company
is unable to obtain financing in the amounts and on terms deemed
acceptable, its business and future success may be adversely
affected."


VRC2735 LLC: Seeks to Hire J. Zac Christman as Bankruptcy Attorney
------------------------------------------------------------------
VRC2735, LLC seeks approval from the U.S. Bankruptcy Court for the
Middle District of Pennsylvania to hire J. Zac Christman, Esq., a
practicing attorney in Stroudsburg, Pa., to handle its Chapter 11
case.

Mr. Christman will be paid at the rate of $300 per hour and
reimbursed for out-of-pocket expenses incurred. Paralegal services
are billed at $120 per hour. The attorney received from the Debtor
a retainer in the amount of $4,000.

Mr. Christman disclosed in a court filing that he is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.

The attorney can be reached at:

     J. Zac Christman, Esq.
     556 Main Street, Suite 12
     Stroudsburg, PA 18360
     Tel: (570) 234-3960
     Fax: (570) 234-3975
     Email: zac@fisherchristman.com

                     About VRC2735, LLC

VRC2735 is engaged in activities related to real estate. The Debtor
owns a 16 bedroom single-family home converted to commercial use
located in Canadensis, Pennsylvania having an appraised value of
$925,000.

VRC2735, LLC filed its voluntary petition for relief under Chapter
11 of the Bankruptcy Code (Bankr. M.D. Pa. Case No. 24-01019) on
April 24, 2024, listing $925,000 in assets and $1,269,428 in
liabilities.

J. Zac Christman, Esq. represents the Debtor as counsel.


W.F. DELAUTER Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Two affiliates that concurrently filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code:

    Debtor                                      Case No.
    ------                                      --------
    W. F. Delauter & Son, Inc.                  24-13955
    2 Creamery Way
    Emmitsburg, MD 21727

    Delauter Leasing, LLC                       24-13956
    2 Creamery Way
    Emmitsburg, MD 21727

Business Description: The Debtors specialize in excavating,
                      grading, and utilities.

Chapter 11 Petition Date: May 8, 2024

Court: United States Bankruptcy Court
       District of Maryland

Debtors' Counsel: Paul Sweeney, Esq.
                  YVS LAW, LLC
                  11825 West Market Place, Suite 200
                  Fulton, MD 20759
                  Tel: (443) 569-5972
                  Fax: (410) 571-2798
                  Email: psweeney@yvslaw.com

Debtors'
Accountant:       GEORGE S. MAGAS CPA PC

W. F. Delauter's
Estimated Assets: $10 million to $50 million

W. F. Delauter's
Estimated Liabilities: $10 million to $50 million

Delauter Leasing's
Estimated Assets: $1 million to $10 million

Delauter Leasing's
Estimated Liabilities: $1 million to $10 million

The petitions were signed by Kirby E. Delauter as president.

Full-text copies of the petitions are available for free at
PacerMonitor.com at:

https://www.pacermonitor.com/view/43WYBGY/W_F_Delauter__Son_Inc__mdbke-24-13955__0001.0.pdf?mcid=tGE4TAMA

https://www.pacermonitor.com/view/5GZA5HI/Delauter_Leasing_LLC__mdbke-24-13956__0001.0.pdf?mcid=tGE4TAMA

List of W. F. Delauter's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim    Claim Amount

1. L/B Water Service Inc.             Trade Debt          $959,136
Attn: Jacob Shadle, Credit Manager
593 South High Street
Selinsgrove, PA 17870
Phone: 570-374-2355
Email: jake.shadle@lbh2o.com

2. M.T. Laney Company, Inc.           Trade Debt          $424,426
5941 Bartholow
Road, Suite A
Eldersburg, MD
21784
Phone: 410-795-1761
Email: kmack@mtlaney.com

3. Francis O. Day Co. Inc.            Trade Debt          $352,022
850 East Gude
Drive, Suite A
Rockville, MD 20850
Dan Femiano, CFO
Phone: 301-652-2400
Email: danf@foday.com

4. Congressional                      Trade Debt          $268,167
Construction, LLC
Attn: Wayne Grossnickle
19671 Mill Point Road
Boonsboro, MD 21713
Phone: 240-409-3309
Email: wayne@congressionalconstruction.com

5. Comptroller of Maryland            State Tax           $263,845
Bankruptcy Unit
301 West Preston
Street, Room 409
Baltimore, MD
21201-2396
Email: kstephens@marylandtaxes.gov

6. Griffith Brothers Inc.             Trade Debt          $222,376
3004 Fallston Road
Fallston, MD 21047
Phone: 410-557-888
Email: mike@griffithbrothersinc.com

7. Craig Paving, Inc.                 Trade Debt          $219,747
118 Hump Road
Hagerstown, MD 21740
Phone: 301-739-9814
Email: robert@craigpaving.com

8. Micro-Tech Designs, Inc.           Trade Debt          $200,533
4312 Black Rock
Road, Suite 1
Hampstead, MD
21074-2641
Phone: 410-239-2885
Email: cathy.martin@microtechdesigns.com

9. Internal Revenue Service              Taxes            $197,955
Centralized Insolvency Unit
P. O. Box 7346
Philadelphia, PA
19101-7346
Tel: 800-973-0424

10. GeoStabilization                   Trade Debt         $186,000
International, LLC
10225 Westmoor
Drive, Suite 205
Broomfield, CO 80021
Phone: 855-955-2930
Email: info@gsi.us

11. Stuart M. Perry, Incorporated      Trade Debt         $177,513
117 Limestone Lane
Winchester, VA 22602
Phone: 540-662-3431
Email: miller@stuartmperry.com

12. Hawkins Erosion Control, LLC       Trade Debt         $162,132
Attn: Stephen Hawkins
4175 Harrisville Road
Mount Airy, MD 21771
Phone: 301-829-7227
Email: steve@hawkinserosion.com

13. Long Fence                         Trade Debt         $130,641
Company, Inc.
1910 Betson Court
Odenton, MD 21113
Phone: 301-622-1600
Email: rgill@longfence.com

14. Thomas Bennett & Hunter Inc.       Trade Debt         $124,364
70 John Street
Westminster, MD
21157-4835
Phone: 410-848-9030
Email: sales@tbhconcrete.com

15. S.W. Barrick & Sons Quarry         Trade Debt         $111,958
P. O. Box 1504
Laurel, MD 20725
Chad Barrick
Phone: 800-762-2294
Email: credit@swbarrick.com

16. H. Frank Foland & Son Inc.         Trade Debt         $103,855
1525 Tilco Drive,
Unit C
Frederick, MD 21704
Erik Foland
Phone: 301-662-2822
Email: erik@hfrankfoland.com

17. Carter Machinery                   Trade Dbet          $98,109
Company, Inc.
P.O. Box 751053
Charlotte, NC
28275-1053
Phone: 800-768-4200
Email: finance@cartermachinery.com

18. Barlow Concrete                    Trade Debt          $94,175
Construction, Inc.
Attn: Marijoy Keenan
P. O. Box 3449
Brooklyn, MD 21225
Phone: 410-789-0001
Email: mkeenan@barlowconcrete.com

19. WEX Bank                           Trade Debt          $68,923
1 Hancock Street
Portland, ME 04101
Phone: 207-773-8171

20. Maine Drilling &                   Trade Debt          $66,520
Blasting
P.O. Box 1140
Gardiner, ME 04345
Phone: 800-422-4927
Email: slagray@mdandb.com


WEBTRONICS LLC: Received Approval to Hire a Special Counsel
-----------------------------------------------------------
Webtronics, LLC received approval from the U.S. Bankruptcy Court
for the Western District of Louisiana to employ W. Thomas Barrett,
III, Attorney at Law, as special counsel.

Mr. Barrett, in behalf of the Debtor, will pursue a pre-petition
claim against Insurance Unlimited of Louisiana and an employee of
that company for failure to pay for a premium for insurance
coverage, which resulted in denial of a loss of coverage during
Hurrucane Laura.

The counsel will receive the following percentage of the amount
recovered:

     a. 33 percent in the event the suit is filed;

     b. 35 percent in the event a trial actually starts; and

     c. 40 percent in the event an appeal is filed by any party.

Mr. Barrett assured the court that he is a disinterested person
within the meaning of Dec 327 of the Bankruptcy Code.

Mr. Barrett can be reached at:

     W. Thomas Barrett, III, Esq.
     W. Thomas Barrett, III, Attorney at Law
     3401 Ryan St
     Lake Charles, LA 70605
     Tel: (337) 474-7311
     Fax: (337) 310-8032

               About Webtronics, LLC

Webtronics, LLC filed a petition under Chapter 11, Subchapter V of
the Bankruptcy Code (Bankr. W.D. La. Case No. 24-20071) on Feb. 7,
2024, with up to $50,000 in assets and $100,001 to $500,000 in
liabilities.

Judge John W. Kolwe oversees the case.

Wade N. Kelly, Esq., at Packard Lapray represents the Debtor as
legal counsel.


WINDSOR HOTEL: Hires Joyce W. Lindauer as Bankruptcy Counsel
------------------------------------------------------------
Windsor Hotel Group, LLC seeks approval from the U.S. Bankruptcy
Court for the Eastern District of Texas to hire Joyce W. Lindauer
Attorney, PLLC to serve as legal counsel in its Chapter 11 case.

The firm's hourly rates are as follows:
  
     Joyce W. Lindauer, Esq.         $495 per hour
     Sydney Ollar, Esq.              $295 per hour
     Laurance Boyd, Esq.             $250 per hour
     Dian Gwinnup                    $225 per hour

The Debtor paid a filing fee of $21,738.

Joyce Lindauer, Esq., the owner of the law firm, disclosed in a
court filing that she is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Joyce W. Lindauer, Esq.
     JOYCE W. LINDAUER ATTORNEY, PLLC
     1412 Main Street, Suite 500
     Dallas, TX 75202
     Telephone: (972) 503-4033
     Facsimile: (972) 503-4034
     Email: joyce@joycelindauer.com

          About Windsor Hotel Group, LLC

Windsor Hotel Group, LLC operates in the traveler accommodation
industry.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Tex. Case No. 24-60204) on April 2,
2024. In the petition signed by Badruddin Damani, CEO & managing
member, the Debtor disclosed up to $10 million in both assets and
liabilities.

Judge Joshua P. Searcy oversees the case.

Joyce W. Lindauer, Esq., at JOYCE W. LINDEAUER ATTORNEY, PLLC,
represents the Debtor as legal counsel.


WINDSOR TERRACE: Pfister & Saso Represents Ad Hoc Group
-------------------------------------------------------
The law firm of Pfister & Saso, LLP filed a verified statement
pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure
to disclose that in the Chapter 11 cases of Windsor Terrace
Healthcare, LLC, and its Affiliated Debtors, the firm represents
the Ad Hoc Group.

The members of the Ad Hoc Group have filed proofs of claim in
respect of personal injury and/or wrongful death tort claims, which
are uniquely situated in bankruptcy matters.

The Ad Hoc Group has retained the law firm of Pfister & Saso, LLP
as counsel to the group as a whole (with all members of the group
nonetheless maintaining their own counsel in connection with their
specific cases and claims).

The names of the decedents or injured residents and the names of
any derivative claimants in brackets that follow:

1. Donald Knestrict [Katherine Felkins]
   Case No. 34-2022-00313404
   (Sacramento Cnty.) and Claim Nos. 11,
   12 in 1:23-bk-11208 (Windsor Court)
   and Nos. 18, 19 in 1:23-bk-11401
   (Windsor Sacramento Estates)

2. Edilberto Pimentel [Aquilina Pimentel, Mary Ann
   Pimentel, Edilberto Pimentel, Jr.]
   Case No. 34-2021-00301511
   (Sacramento Cnty.) and Claim Nos. 14,
   15, 16, 17 in 1:23-bk-11212 (Windsor Elk Grove)

3. Timothy Scott [Gabriel Scott]
   Case No. 34-2017-00218038
   (Sacramento Cnty.) and Claim No. 23
   in 1:23-bk-11401 (Windsor Sacramento Estates)

4. Kathryn Long [Richard Long, Jeannette Long]
   Case No. STK-CV-2023-11595 (San
   Joaquin Cnty.) and Claim Nos. 18, 19
   in 1:23-bk-11215 (Windsor Hampton)
   and 15, 16 in 1:23-bk-11218 (Windsor Skyline)

5. Ruby Evans [Willette Williams, Ronnie Evans, James
   Evans]
   Case No. FC5055755 (Solano Cnty.)
   and Claim Nos. 15, 16, 17, 18 in 1:23-
   bk-11220 (Windsor Vallejo)

6. Sidney Krow [Michelle Krow, Stacy Armstrong]
   Case No. 23CV034696 (Alameda
   Cnty.) and Claim No. 18 in 1:23-bk-
   11207 (Windsor Country Drive)

7. Lin Yuan Weng [Rachel Zi Liang Zhou]
   Claim No. 17 in 1:23-bk-11207
   (Windsor Country Drive)

8. Lawrence Leslie [Sara Leslie]
   Case No. 24CV001372 (Sacramento
   Cnty.) and Claim Nos. 24, 25 in 1:23-
   bk-11213 (Windsor Elmhaven)

9. Carol Parks [Kimberly Emslander, Melanie Schwemer,
   Charles Parks, Michael Parks]
   Case No. 24CV001531 (Sacramento
   Cnty.) and Claim Nos. 29, 30, 31, 32,
   33 in 1:23-bk-11401 (Windsor Sacramento Estates)

10. Mary Carter [Nathan Floyd]
   Case No. 19STCV11538 (Los Angeles
   Cnty.) and Claim No. 26 in 1:23-bk-
   11206 (Windsor Cheviot Hills)

11. Dallas Nelson, Jr. [Delcine Nelson, Marc Nelson]
   Case No. STK-CV-UMM-2024-998
   (San Joaquin Cnty.) and Claim Nos. 24,
   25, 26[1] in 1:23-bk-11401 (Windsor Sacramento Estates)

12. Cynthia Davidson [Corinthia French]
   Case No. 23CV007089 (Sacramento
   Cnty.) and Claim No. 22[2] in 1:23-bk-
   11210 (Windsor El Camino)

13. Larry D. Jefferson [Reashaun Jefferson, Yolanda
   Jefferson]
   Case No. 23CV030693 (Alameda
   Cnty.) and Claim No. 9 in 1:23-bk-
   11402 (Windsor Hayward Estates)

14. Aaeron Deleon [Lawonda Deleon, Aaryn Deleon, Ayza
   Deleon]
   Case No. 34-2022-00325930
   (Sacramento Cnty.) and Claim No. 34
   in 1:23-bk-11212 (Windsor Elk Grove)

15. Bryan Nash
   Case No. 34-2022-00327033
   (Sacramento Cnty.) and Claim No. 46
   in 1:23-bk-11210 (Windsor El Camino)

16. Drena Humphries [Alan Humphries, George Humphries,
   John Humphries]
   Case No. 23STCV00307 (Los Angeles
   Cnty.) and Claim No. 17 in 1:23-bk-
   11214 (Windsor Gardens Convalescent Hospital)

17. James Portis [Patricia Portis]
   Case No. 21STCV16326 (Los Angeles
   Cnty.) and Claim No. 19 in 1:23-bk-
   11206 (Windsor Cheviot Hills)

18. Iman Shabazz [Tiffany Harrison]
   Claim No. 22 in 1:23-bk-11213
   Windsor Elmhaven) and Claim No. 17
   in 1:23-bk-11401 (Windsor Sacramento Estates)

19. Catherine Wicker
   Case No. 22STCV01554 (Los Angeles
   Cnty.) and Claim No. 21 in 1:23-bk-
   11213 (Windsor Elmhaven)

Attorneys for the Ad Hoc Group:

     PFISTER & SASO, LLP
     Robert J. Pfister, Esq.
     10250 Constellation Boulevard, Suite 2300
     Los Angeles, California 90067
     Telephone: (310) 414-4901
     Email: rpfister@pslawllp.com

     -and-

     Paul A. Saso, Esq.
     524 Broadway, 11th Floor
     New York, New York 10012
     Telephone: (212) 416-4380
     Email: psaso@pslawllp.com

                 About Windsor Terrace Healthcare

Windsor Terrace Healthcare, LLC and its affiliates are primarily
engaged in the businesses of owning and operating skilled nursing
facilities throughout the State of California. Collectively, the
Debtors own and operate 16 skilled nursing facilities, which
provide 24 hour, seven days a week and 365 days a year care to
patients who reside at those facilities.

In addition to the 16 skilled nursing facilities, the Debtors own
and operate one assisted living facility (which is Windsor Court
Assisted Living, LLC), one home health care center (which is S&F
Home Health Opco I, LLC), and one hospice care center (which is S&F
Hospice Opco I, LLC). The Debtors do not own any of the real
property upon which the facilities are located.

Windsor Terrace Healthcare and 18 affiliates filed Chapter 11
petitions (Bankr. C.D. Calif. Lead Case No. 23-11200) on Aug. 23,
2023. Two more affiliates, Windsor Sacramento Estates, LLC and
Windsor Hayward Estates, LLC, filed Chapter 11 petitions on Sept.
29.

At the time of the filing, Windsor Terrace Healthcare disclosed up
to $10 million in both assets and liabilities.

Judge Victoria S. Kaufman oversees the cases.

The Debtors tapped Levene, Neale, Bender, Yoo, and Golubchik, LLP
as bankruptcy counsel; Hooper, Lundy & Bookman, P.C. and Hanson
Bridgett, LLP as special counsels; and Province, LLC as financial
advisor. Stretto, Inc. is the Debtor's claims, noticing and
solicitation agent.

The U.S. Trustee for Region 16 appointed an official committee to
represent unsecured creditors in the Debtors' Chapter 11 cases.
Troutman Pepper Hamilton Sanders, LLP is the Debtors' legal
counsel.

Jacob Nathan Rubin, the patient care ombudsman, is represented by
RHM Law, LLP.


WOOF HOLDINGS: BlackRock BDEBT Marks $942,193 Loan at 20% Off
-------------------------------------------------------------
BlackRock Private Credit Fund ("BDEBT") has marked its $942,193
loan extended to Woof Holdings, Inc. to market at $753,754 or 80%
of the outstanding amount, as of March 31, 2024, according to a
disclosure contained in BDEBT's Form 10-Q for the quarterly period
ended March 31, 2024, filed with the U.S. Securities and Exchange
Commission.

BDEBT is a participant in a First Lien Term Loan to Woof Holdings.
The loan accrues interest at a rate of 9.32% (SOFR (M) + 4.01%,
.75% Floor) per annum. The loan matures on December 21, 2027.

BDEBT is a Delaware statutory trust formed on December 23, 2021.
BDEBT is a non-diversified, closed-end management investment
company that has elected to be regulated as a business development
company under the Investment Company Act of 1940. BDEBT is
externally managed by BlackRock Capital Investment Advisors, LLC.
BlackRock Advisors, LLC serves as the sub-adviser. The Advisers are
subsidiaries of BlackRock, Inc. BlackRock Financial Management,
Inc. serves as the administrator, and is affiliated with the
Advisers. BDEBT's fiscal year ends December 31.

Headquartered in Tewksbury, Massachusetts, Woof Holdings, Inc.,
through its acquisition of The Wellness Pet Food Holdings Company,
Inc., is a manufacturer of premium pet food and treats, mainly in
North America.


WYNDHAM HOTEL: Fitch Affirms 'BB+' LongTerm IDR, Outlook Stable
---------------------------------------------------------------
Fitch Ratings has affirmed the Issuer Default Rating (IDR) of
Wyndham Hotels & Resorts Inc. (NYSE: WH) at 'BB+'. Fitch has also
affirmed WH's senior secured debt at 'BBB-'/'RR1' and WH's senior
unsecured debt at 'BB+'/RR4. The Rating Outlook is Stable.

The affirmation reflects Fitch's expectations that EBITDAR leverage
will remain at or below 4.0x through the forecast period. WH has
continued to deliver strong room growth and margins while leading
in the select-service franchise space with more than 876,000 rooms.
Market position is further reinforced with an extensive development
pipeline representing 28% of the current portfolio as of 1Q'24.
Fitch expects room growth to continue to drive EBITDA growth but a
slowdown in year over year RevPAR growth in light of the current
economic backdrop and tougher comp periods. Despite this, WH's
strong free cash flow positions them to continue to reinvest in
their business and return capital to shareholders.

KEY RATING DRIVERS

Strong Net Room Growth and Margins: WH continues to deliver strong
margins with its growing portfolio of 876,300 rooms across 25
brands. The company's select-service, franchise focus emphasizes
cost efficiencies and higher margins as compared to peers. WH's
owner-first approach prioritizes investment in technology to
optimize market share and bottom line. This value proposition
attracts and retains owners as evidenced by the 1Q24 12-month
retention rate of 95.6%. WH targets a retention rate of 96%,
meaningfully contributing to ongoing net room growth. For 1Q24, net
room growth came in strong at 4%, and Fitch expects this momentum
to continue in the near term.

Pipeline Supports Market Position: WH is the largest franchisor by
hotels worldwide, supported by an extensive development pipeline of
243,000 rooms, representing 28% of the current portfolio as of
1Q'24. About 58% of the pipeline is composed of international rooms
across 60 countries including eight countries without a
pre-existing presence. Midscale and above tiers represent 69% of
the pipeline, which highlights WH's focus on diversifying across
high margin franchise segments.

In an effort to expand WH has increased capital outlay with
development advance notes. These notes are made to owners and
amortized over the life of the franchise agreement and oftentimes
forgiven. Fitch views the notes as a capital commitment to attract
owners and grow room count. The notes balance sheet presence has
increased considerably at $246 million as of 1Q2024 up from $144
million as of FY2022. The company has guided to roughly $90 million
in development note spend for the full year 2024. Fitch's forecast
is in line with this guidance, and Fitch expects it to remain at
this level through the projection period.

Near-Term RevPAR Slowdown: Fitch expects a slowdown in year over
year RevPAR growth due to a tougher comp period as well as demand
pressure in lower price point hotels. During the full year 2023,
global RevPAR grew at 3%, driven by international performance
whereas US RevPAR was down 1% year over year. This trend followed
suit in 1Q 2024 with global RevPAR up 1%, the drag largely from
U.S. performance down 5%. For full year 2024, the company has
guided to a midpoint of 2.5% global RevPAR growth. Fitch
conservatively projects RevPAR growth at the low end of guidance at
2% for the 2024.

WH's offerings are primarily budget focused within the
select-service segment enabling flexibility for cost fluctuations
from an operating standpoint. However, the cost conscious traveler
is also more sensitive to cost pressures as it represents a larger
share of total spend compared to higher-end travelers. Over the
past couple of years, consumers have demonstrated a willingness to
pay up for experiences, but in light of various economic factors
the rate of increase may not be sustainable. This is in line with
Fitch's RevPAR expectations that occupancy levels are not
maintained at higher rates as the core customer base faces heighted
cost pressures. WH does however have the opportunity to
meaningfully increase ancillary revenue sources as demonstrated in
1Q24.

Capital Return Prioritized: Fitch expects WH to prioritize
shareholder return through repurchases and dividends during the
full year 2024. Given management's sentiment around stock
undervaluation, there is high incentive to buy back shares to
create value for investors. During 1Q 2024, the company repurchased
$55 million of stock, and guided to minimum full year repurchases
at or above prior year levels. Fitch expects capital allocation to
be funded through a mix of free cash flow and additional financing.
WH is operating at the midpoint of their stated net leverage policy
of 3x to 4x leaving headroom to lever for capital return. Fitch
expects EBITDAR leverage to remain appropriate for the 'BB+' rating
amidst shareholder friendly actions.

Cyclical Cash Flow Profile: The cyclical nature of the hotel
industry is a credit concern. Hotels re-price their inventory daily
and, therefore, have the shortest lease terms and least stable cash
flows within commercial real estate. Economic cycles, as well as
exogenous events (i.e. acts of terrorism, pandemics), have
historically caused material declines in revenues and profitability
for hotels.

Select-service hotels have historically been less volatile during a
downturn as compared to full-service hotels. However, customers are
oftentimes more sensitive to economic pressures at the lower end of
the chainscale as it represents a larger share of total income.
From a supply standpoint, there is comparatively low barriers for
new supply given low capital cost, real estate availability and
strong demand.

DERIVATION SUMMARY

The rating reflects WH's diversification across brands, geographies
and offerings relative to peers. As of 1Q'24, the company's system
size of 876,300, development pipeline of 243,000 and loyalty
program of 108 million members trails behind industry leaders
Hilton (not rated) and Marriott (not rated). These industry leaders
have system sizes of over 1 million, development pipelines roughly
double that of WH and loyalty rewards programs with 150+ million
members. However, WH tracks ahead of Hyatt ('BBB-'/Stable) with
nearly double total room count and just under twice the pipeline
size. WH is predominately exposed to lower chain scales while
Hilton and Marriott offer brands across most chain scales and Hyatt
focuses on high end offerings.

WH is smaller in terms of top line revenue as compared to its
lodging peers, but it takes the lead in strong Fitch calculated
operating EBITDAR margins at 78%. The asset light business
structure is 100% franchised as compared to lodging peers Hyatt,
Hilton, Marriott which are roughly 96%, 99% and 98% managed and
franchised by room count respectively. The focus on franchise
revenue streams in the select-service space specifically allows for
lower operating costs and lower volatility in future cash flow.

WH's stated financial policy of 3x-4x net leverage is wider in
range relative to Marriott (3x-3.5x gross leverage), Hilton
(3x-3.5x net leverage) and Hyatt (3x-3.5x net leverage). Similar to
peer Hilton, Fitch expects WH to use capital return as a means to
manage leverage in lieu of accretive deals.

KEY ASSUMPTIONS

- Base interest rates applicable to the company's outstanding
variable rate debt obligations reflects current SOFR forward
curve;

- RevPAR growth of 2% through forecast period;

- EBITDA margins at roughly 76% through forecast period (with
EBITDA adjustments for cost reimbursements and marketing,
reservation and loyalty line items);

- Annual net room growth of 4% through forecast period;

- Capex at 4-5% of revenues through forecast period;

- Dividend Payout of 39% in 2024, 35% in 2025, 33% in 2026, and 30%
in 2027;

- Annual share repurchases of roughly $250 million to $400 million
through forecast period

RATING SENSITIVITIES

Factors That Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade

- Fitch's expectations of EBITDAR Leverage sustaining below 3.25x;

- Sustained EBITDAR margin strength;

- Company stated leverage policy tightened and exhibit clear
commitment;

- Demonstrate lower cash flow volatility through the cycle relative
to peers;

- Enhanced scale and portfolio diversification in terms of
geography as well as segment offerings.

Factors That Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade

- Fitch's expectations for EBITDAR leverage sustaining above 4.25x,
potentially through a change in the company's long-term financial
policies;

- A deterioration in WH's brand and franchise strength resulting in
below average performance, loss of management contracts, and/or
system room loss;

- Weakening of operating EBITDAR margins due to unsustainable cost
structure initiatives;

- Material reduction in liquidity challenging refinancing
capabilities leading to higher cost of debt or increased reliance
on secured borrowings.

LIQUIDITY AND DEBT STRUCTURE

Solid Liquidity, No-Near Term Maturities: As of March 31,2024, WH
had approximately $50 million in cash on hand and $533 million
available on its $750 revolving credit facility (net of $208
million withdrawn and $9 million in letters of credit outstanding).
The next meaningful maturity is in 2027 when the $400 million Term
Loan A and revolver balance come due.

Fitch expects WH to use its balance sheet and excess free cash flow
to return capital to shareholders through share repurchases and
dividends. These cash outlays represent a strong means in managing
WH's leverage position unless acquisition opportunities arise.

ISSUER PROFILE

WH is the world's largest hotel franchising company by number of
hotels, with approximately 9,200 affiliated hotels across 95
countries. Its network of over 876,000 rooms commands a leading
presence in the economy and midscale segments of the lodging
industry.

ESG CONSIDERATIONS

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.

   Entity/Debt              Rating         Recovery   Prior
   -----------              ------         --------   -----
Wyndham Hotels
& Resorts Inc.        LT IDR BB+  Affirmed            BB+

   senior unsecured   LT     BB+  Affirmed   RR4      BB+

   senior secured     LT     BBB- Affirmed   RR1      BBB-


XTI AEROSPACE: Raises $1-Mil. in Streeterville Deal
----------------------------------------------------
XTI Aerospace, Inc. disclosed in a Form 8-K Report filed with the
U.S. Securities and Exchange Commission that on May 1, 2024, the
Company entered into a note purchase agreement with Streeterville
Capital, LLC, pursuant to which the Company agreed to issue and
sell to the Holder a secured promissory note in an initial
principal amount of $1,305,000 which is payable on or before the
date that is 12 months from the issuance date, and upon the
satisfaction of certain conditions set forth in the Purchase
Agreement, up to two additional secured promissory notes. The
Initial Principal Amount includes an original issue discount of
$290,000 and $15,000 that the Company agreed to pay to the Holder
to cover the Holder's legal fees, accounting costs, due diligence,
monitoring and other transaction costs. In exchange for the Note,
the Holder paid an aggregate purchase price of $1,000,000. The
Company intends to use the net proceeds from the sale of the Note
and any Subsequent Notes for general working capital purposes.

The Holder is also the holder of 9,051.521 shares of the Company's
non-convertible Series 9 preferred stock issued on March 12, 2024
in exchange for the cancellation of the remaining balance under a
then outstanding unsecured promissory note of the Company.

The Company's wholly-owned subsidiary, XTI Aircraft Company,
provided a guarantee, dated as of May 1, 2024, of the Company's
obligations to the Holder under the Note, any Subsequent Notes and
the other transaction documents. In addition, the Company's
obligations under the Note, any Subsequent Notes and the other
transaction documents are secured by (i) a pledge of all of the
stock the Company owns in XTI Aircraft pursuant to the terms of the
pledge agreement, dated as of May 1, 2024, by and between the
Company and the Holder, and (ii) those assets owned by XTI Aircraft
constituting Collateral, pursuant to (and as defined in) the
security agreement, dated as of May 1, 2024, by and between XTI
Aircraft and the Holder.

The terms of the Note include:

     Interest on the Note accrues at a rate of 10% per annum and is
payable on the maturity date or otherwise in accordance with the
Note.

     Prepayment: The Company may pay all or any portion of the
amount owed earlier than it is due; provided that in the event the
Company elects to prepay all or any portion of the outstanding
balance, it will be required to pay to the Holder 115% of the
portion of the outstanding balance the Company elects to prepay.
After the occurrence of any Event of Default, each time the Company
sells its common or preferred stock in a financing for the purpose
of raising capital, it will be required to make a mandatory
prepayment under the Note in an amount equal to the lesser of (x)
25% of the amount raised in such financing (less the aggregate
amount of any mandatory prepayments of any Subsequent Notes made by
the Company in accordance with the terms of such Subsequent Notes)
and (y) the outstanding balance due under the Note as of the
closing date of such financing, payable within five days of
receiving such amount.

     Redemption: Beginning on the date that is six (6) months from
the issuance date and at the intervals indicated below until the
Note is paid in full, the Holder will have the right to require the
Company to redeem up to an aggregate of one sixth of the initial
principal balance of the Note plus any interest accrued thereunder
each month (each monthly exercise, a "Monthly Redemption Amount")
by providing written notice (each, a "Monthly Redemption Notice")
delivered to the Company by facsimile, email, mail, overnight
courier, or personal delivery; provided, however, that if the
Holder does not exercise any Monthly Redemption Amount in its
corresponding month then such Monthly Redemption Amount will be
available for the Holder to redeem in any future month in addition
to such future month's Monthly Redemption Amount. Upon receipt of
any Monthly Redemption Notice, the Company will be required to pay
the applicable Monthly Redemption Amount in cash to the Holder
within five business days of the Company's receipt of such Monthly
Redemption Notice.

     Monitoring Fee: If the Note is still outstanding on the date
that is six months from the issuance date, then a one-time
monitoring fee equal to 10% of the then-current outstanding balance
will be added to the Note.

     Default Events: The Note includes customary event of default
provisions, subject to certain cure periods, and provides for a
default interest rate of 22%. Following the occurrence of an event
of default -- except a default due to the occurrence of bankruptcy
or insolvency proceedings -- the Holder may, by written notice to
the Company, declare all unpaid principal, plus all accrued
interest and other amounts due under the Note to be immediately due
and payable without presentment, demand, protest or any other
notice of kind. Upon the occurrence of a Bankruptcy-Related Event
of Default, immediately and without notice, all unpaid principal,
plus all accrued interest and other amounts due under the Note will
become immediately due and payable.

     Change in Control: Upon the occurrence of a sale of all or
substantially all of the Company's assets, or a merger,
consolidation, or other capital reorganization of the Company with
or into another company in which the holders of equity of the
Company outstanding immediately prior to such transaction continue
to hold, after such transaction, 50% or less of the total voting
power represented by the voting securities of the Company, or such
surviving entity, and without further notice to the Company, all
unpaid principal, plus all accrued interest, original issue
discount, and other amounts due under the Note, will become
immediately due and payable.

In addition, pursuant to the terms of the Purchase Agreement,
beginning on the date of the issuance and sale of the Note pursuant
to the Purchase Agreement and ending on the date the Note and any
Subsequent Notes are paid in full, the Holder will have a right to
participate at the Holder's discretion in up to ten percent (10%)
of the amount sold in any financing transaction involving the
issuance of debt or equity securities of the Company for cash
consideration. In the event the Company breaches its obligations
with respect to the Participation Right, the Holder's sole and
exclusive remedy will be to receive, as liquidated damages, an
amount equal to 20% of the amount Investor would have been entitled
to invest under the Participation Right. The Company's breach of
its obligation with respect to the Participation Right will not be
considered as an Event of Default under the Note. The Participation
Right does not apply in connection with an offering of securities
which qualifies as an Exempt Issuance, a transaction under Section
3(a)(10) of the Securities Act of 1933, as amended, a registered
offering made pursuant to a registration statement on Form S-1 or
Form S-3, or in connection with the satisfaction of outstanding
trade payables.

Pursuant to the terms of the Purchase Agreement, until all of the
Company's obligations under the Note and all other transaction
documents are paid and performed in full, the Company has agreed
not to issue securities in any Variable Rate Transaction (as
defined in the Purchase Agreement) or issue or guarantee any debt
or debt instrument, subject to certain exceptions, without the
Holder's written consent, which consent may be granted or withheld
in the Holder's sole discretion; provided that the issuance by the
Company of shares of common stock in an at-the-market offering will
not be deemed a Variable Rate Transaction.

The Purchase Agreement also provides for indemnification of the
Holder and its affiliates in the event that they incur loss or
damage related to, among other things, a breach by the Company of
any of its representations, warranties or covenants under the
Purchase Agreement.

Subject to the mutual consent of the Holder and the Company, the
Holder will purchase a Subsequent Note on the date that is 30 days
from the Closing Date and another Subsequent Note on the date that
is 60 days from the Closing Date. The Subsequent Notes will have
terms that are substantially similar to the terms of the Note. The
initial principal amount of each Subsequent Note will be mutually
agreed upon by the Holder and the Company.

Additionally, on April 30, 2024, the Company entered into Exchange
Agreements with the holders of certain existing warrants of the
Company initially issued on May 17, 2023, which were exercisable
for an aggregate of 918,690 shares of the Company's common stock.
Pursuant to the Exchange Agreements, the Company has agreed to
issue to the Warrant Holders 0.70 shares of common stock for each
Existing Warrant, for an aggregate of 643,082 shares of common
stock, in exchange for the Existing Warrants, in reliance on an
exemption from registration provided by Section 3(a)(9) of the
Securities Act. Following the consummation of the Exchange, the
Existing Warrants will be cancelled and no further shares will be
issuable pursuant to the Existing Warrants.

The Company entered also into an Exchange Agreement, dated April
18, 2024, with the holder of shares of the Company's Series 9
Preferred Stock pursuant to which the Company and the holder agreed
to exchange 750 shares of Series 9 Preferred Stock with an
aggregate stated value of $787,500 for 266,047 shares of common
stock at an effective price per share of $2.96. The Company issued
the shares of common stock to the holder on April 19, 2024, at
which time the Preferred Shares were cancelled. The shares of
common stock issued to the holder in exchange for the Preferred
Shares were issued in reliance on the exemption from registration
provided by Section 3(a)(9) of the Securities Act, on the basis
that (a) the shares of common stock were issued in exchange for
other outstanding securities of the Company; (b) there was no
additional consideration delivered by the holder in connection with
the exchange; and (c) there were no commissions or other
remuneration paid by the Company in connection with the exchange.

On April 30, 2024, the Company filed a Certificate of Amendment to
Designations of Preferences and Rights of Series 9 Preferred Stock
with the Secretary of State of the State of Nevada, which now
allows the Company to pay the holders of Series 9 Preferred Stock,
if such holders agree, with securities or other property of the
Company in an amount equal to the Series 9 Preferred Liquidation
Amount  in the event the Company elects to redeem all of any
portion of the Series 9 Preferred Stock then issued and
outstanding. Previously, the Company was to pay any such amount in
only cash. The Certificate of Amendment also now provides that the
Company will provide notice of a Corporation Optional Conversion to
the holders of Series 9 Preferred Stock within five business days
prior to the consummation of such redemption rather than five
business days following the determination of the Company's board of
directors to consummate such redemption.

In addition, the Certificate of Amendment eliminates the
requirement for the Company to obtain the written consent of the
holders of at least a majority of the outstanding Series 9
Preferred Stock before repaying any outstanding indebtedness owed
to any holder of Series 9 Preferred Stock or its affiliates.

The Company had 10,185,458 shares of common stock outstanding, as
of April 19, 2024, and as of May 1, 2024, after taking into account
the issuance of the Exchange Shares, the Company has 10,828,540
shares of common stock outstanding.

                     About XTI Aerospace

XTI Aerospace (formerly Inpixon), is primarily an aircraft
development and manufacturing company.  The Company also provides
real-time location systems ("RTLS") for the industrial sector,
which was our focus prior to the closing of the XTI Merger.
Headquartered in Englewood, Colorado, the Company is developing a
vertical takeoff and landing aircraft that takes off and lands like
a helicopter and cruises like a fixed-wing business aircraft.  The
Company's initial model, the TriFan 600, is a six-seat aircraft
which is intended to provide point-to-point air travel over
distances of up to 700 miles, fly at twice the speed of a
helicopter and cruise at altitudes up to 25,000 feet.

As of Dec. 31, 2023, the Company had $23.77 million in total
assets, $17.04 million in total liabilities, and $6.73 million in
total stockholders' equity.

New York-based Marcum LLP, the Company's auditor since 2012, issued
a "going concern" qualification in its report dated April 16, 2024,
citing that the Company has a significant working capital
deficiency, has incurred significant losses and needs to raise
additional funds to meet its obligations and sustain its
operations. These conditions raise substantial doubt about the
Company's ability to continue as a going concern.



ZION OIL: Incurs $1.8 Million Net Loss in First Quarter
-------------------------------------------------------
Zion Oil & Gas, Inc., filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q reporting a net loss
of $1.76 million for the three months ended March 31, 2024,
compared to a net loss of $2.14 million for the three months ended
March 31, 2023.

As of March 31, 2024, the Company had $26.81 million in total
assets, $3.69 million in total liabilities, and $23.13 million in
total stockholders' equity.

Zion Oil stated, "Our ability to continue as a going concern is
dependent upon obtaining the necessary financing to complete
further exploration and development activities and generate
profitable operations from our oil and natural gas interests in the
future.  Our current operations are dependent upon the adequacy of
our current assets to meet our current expenditure requirements and
the accuracy of management's estimates of those requirements.
Should those estimates be materially incorrect, our ability to
continue as a going concern will be impaired.  Our financial
statements for the three months ended March 31, 2024 have been
prepared on a going concern basis, which contemplates the
realization of assets and the settlement of liabilities and
commitments in the normal course of business.  We have incurred a
history of operating losses and negative cash flows from
operations.  Therefore, there is substantial doubt about our
ability to continue as a going concern for one year from the date
the financials were issued."

A full-text copy of the Form 10-Q is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/1131312/000121390024040902/ea0204408-10q_zionoil.htm

                         About Zion Oil

Zion Oil and Gas, Inc., a Delaware corporation, is an oil and gas
exploration company with a history of 24 years of oil and gas
exploration in Israel.

Las Vegas, NV-based RBSM LLP, the Company's auditor since 2018,
issued a "going concern" qualification in its report dated March
20, 2024, citing that the Company has suffered recurring losses
from operations and had an accumulated deficit that raises
substantial doubt about its ability to continue as a going concern.


ZOOZ POWER: Incurs $11.7 Million Net Loss in 2023
-------------------------------------------------
ZOOZ Power Ltd. filed with the Securities and Exchange Commission
its Annual Report on Form 20-F reporting a net loss of $11.75
million on $764,000 of sales for the year ended Dec. 31, 2023,
compared to a net loss of $7.82 million on $0 of sales for the year
ended Dec. 31, 2022.

As of Dec. 31, 2023, the Company had $13.48 million in total
assets, $4.28 million in total liabilities, and $9.19 million in
total equity.

Jerusalem, Israel-based Kesselman & Kesselman, the Company's
auditor since 2018, issued a "going concern" qualification in its
report dated April 30, 2024, citing that the Company has net losses
and has generated negative cash flows from operating activities for
the years ended Dec. 31, 2023, 2022 and 2021.  Such circumstances
raise substantial doubt about the Company’s ability to continue
as a going concern.

ZOOZ had an accumulated deficit of approximately $35.4 million and
$47.2 million as of Dec. 31, 2022 and Dec. 31, 2023, respectively.
ZOOZ believes it will continue to incur operating and comprehensive
losses for the near-term.  ZOOZ does not expect that it will
improve its cash flow generation and operating result significantly
through 2024 and 2025 as ZOOZ is in the early stage of market
penetration and product introduction.  ZOOZ's said its ability to
continue as a going concern will depend on its ability to generate
sufficient revenue and/or its ability to raise capital.

A full-text copy of the Form 20-F is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001992818/000149315224017287/form20-f.htm

                      About ZOOZ Power Ltd.

Headquartered in St. Lod 7152008 Israel, ZOOZ --
https://www.zoozpower.com -- is committed to accelerating the
electrical vehicles revolution and supporting the mass adoption of
electric vehicles ("EVs") around the world, by enabling and
empowering a widespread deployment of ultra-fast charging
infrastructure.  ZOOZ develops, produces, markets and sells energy
storage systems based on storing kinetic energy in flywheels for
ultra-fast charging of EVs.  ZOOZ has developed proprietary
flywheel technology for storing kinetic energy and as of the date
of this proxy statement/prospectus, has introduced two generations
of Kinetic Storage Systems – the KPB50, which was ZOOZ's
first-generation product and was introduced in 2018 as
proof-of-concept and for market introduction, and the ZOOZTER-100,
ZOOZ's second-generation product, which was introduced in 2022 and
is geared towards high-volume production and deployment.


[^] BOOK REVIEW: Dynamics of Institutional Change
-------------------------------------------------
Dynamics of Institutional Change: The Hospital in Transition

Authors:    Milton Greenblatt, Myron Sharaf, and Evelyn M. Stone
Publisher:  Beard Books
Softcover:  288 pages
List Price: $34.95
Review by Henry Berry

Order your personal copy today at
http://beardbooks.com/beardbooks/dynamics_of_institutional_change.html

Like many other private-sector and public institutions in modern
society, hospitals are regularly undergoing change. The three
authors of this volume have been leaders in change at Boston State
Hospital, a large public mental hospital, that serves as the test
case for the experienced advice and hard-earned lessons found in
this work.

With their academic and professional backgrounds, the three authors
combined offer an incomparable fund of knowledge and experience for
the reader. In keeping with their positions, they focus on the
position and the role of the leaders of institutional change. They
do not recommend any particular choices, direction, or outcome.
They do not presume to know what is the best for all institutions,
or to understand the culture, realities, goals, or values of all
institutions. They do not even presume to know what is best or
desirable for hospitals, the institution with which they are most
familiar. Instead, the authors direct their attention to "the
problems hampering change and the gains and losses of one or
another strategy of change." In relation to this, they are "more
concerned with the study of process than with outcome." By not
recommending specific policies or arguing for specific values or
goals, the authors make their book relevant to all institutions
involved in change, but particularly public-health institutions.

All of the subjects are dealt with from the perspective of top
executives and administrators. Among the subjects taken up are not
only the staff and structure of the institution, specifically the
medical institution, but also consultants, volunteers, local
communities, and state and federal government agencies. The detail
given to each subject goes beyond the administrator's relationship
to it to discussion concerning the relationship of lower-level
employees with the subject. This relationship of lower-level
employees has everything to do with how change occurs within the
institution, and often whether it occurs. The authors go into such
detail because they understand that the performance and goals of
top administrators are affected by everything that goes on within
their institution, and often by much that goes on outside of it.

For example, the authors begin the subject of volunteers by
defining three types of volunteers: volunteers from organizations,
student or independent volunteers, and government-appointed or
statutory volunteers. Volunteers of whatever type can cause
anxiety, resistance, and even resentment among regular staff of an
institution. Volunteers are not simply "free help," but require
administration, training, and oversight -- which can distract
regular employees from work they consider more important and
interesting, and use up departments' resources. The transitional
nature of volunteers, their ignorance of institutional and
occupational concerns of the regular staff, and their lack of
professionalism can cause disruptions and personnel problems in
parts of an institution. The authors advise the top administrators,
"The intrusive evangelism of student volunteers can be threatening
not only to professional supervisors, but to the entire hospital
staff as well, from the attendant to the top administrator." While
recognizing the problems which may be caused by volunteers,
especially younger ones, the authors point out the worth of
volunteers to the hospital despite the potential problems they
bring. Overall, the different types of volunteers "improve the
physical and social environment" of the workplace, "make direct and
beneficial contacts with chronic patients," and often "establish
true innovations." After discussing the pros and cons of volunteers
and providing detailed guidance on how to manage volunteers so as
to minimize potential problems, the authors advise the
administrator and his or  her staff how to regard volunteers. "Both
staff and administrator must constantly keep in mind that
volunteers are not personally helping them [word in italics in
original], but are helping the patients or the community." Along
with the technical management and administrative guidance, such
counsel is clearly relevant and important in keeping perspective on
the matter of volunteers.

The treatment of volunteers in a medical institution exemplifies
the comprehensive, empathetic, and experienced treatment of all the
subjects. Personnel -- whether professional, clerical, service, or
volunteer -- is obviously a major concern of any institution and
change in it. The structure of an institution is another crucial
concern. This is addressed under the heading "decentralization
through unitization." In the context of a large public medical
facility, decentralization "involves breaking up the institution
into semiautonomous units...; each of which is like a small
community health center in that it is responsible for serving a
specific part of the community." As with the subject of volunteers,
the authors treat this subject of the structure of the institution
by examining its various sides, discussing related personnel and
administrative matters, relating instructive anecdotes from their
own experience, and in the end, offering relevant and practical
advice and actions whose sense is apparent to the reader by this
point.

Recognizing that the authors have faced many of the same
situations, decisions, pressures, challenges, and aims as they
have, top hospital and public-health administrators will no doubt
adopt many of the authors' recommendations for managing the process
of change. The content of the book as well as its style (which is
obviously meant to be helpful, sympathetic, and realistic) offers
the reader not only resolutions, but also encouragement. The top
hospital administrators and their staff, who are the main audience
for "Dynamics of Institutional Change," will not find a better
study and handbook to help them through the changes their
institutions are being called upon to undergo to deal with the
health concerns and problems of today's society.

Milton Greenblatt, M.D. was Commissioner of the Massachusetts
Department of Mental Health, Professor of Psychiatry at Tufts
University School of Medicine, and Lecturer in Psychiatry at
Harvard Medical School and Boston University School of Medicine.

Myron R. Sharaf, Ph. D. was Associate Area Director of Boston State
Hospital and Assistant Professor of Psychology at Tufts University
School of Medicine.

Evelyn M. Stone served as Executive Editor for the Massachusetts
Department of Mental Health.



                            *********

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