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250819.mbx T R O U B L E D C O M P A N Y R E P O R T E R Tuesday, August 19, 2025, Vol. 29, No. 230 Headlines 100 PERCENT CHIROPRACTIC: Gets Interim Cash Collateral Access 1522 C STREET: Seeks to Hire Brett Weiss as Legal Counsel ADVENT TECHNOLOGIES: Issues $235K Convertible Note, Settles Debt AFM MATTRESS: Hires Goldstein & McClintock as Bankruptcy Counsel AFM MATTRESS: Seeks to Hire Kreshmore Group as Financial Advisor ALACHUA GOVERNMENT: Hires Ashby as Special Conflicts Counsel ALEON METALS: Case Summary & 30 Largest Unsecured Creditors ALGORHYTHM HOLDINGS: Completes $4.5M Sale of Singing Machine Biz AON PLC: Vesttoo Creditors Sue Over Fraud, Bankruptcy Collapse APPLIED MINERALS: Fox Family of Companies File Liquidating Plan ASCEND PERFORMANCE: Hires GA Group as Valuation Advisor ATLANTIC NATURAL: Completes Loma Linda Sale In Bankruptcy Case BEELINE HOLDINGS: Board Adopts Amended Code of Conduct and Ethics BENTLEY FINANCIAL: Receiver Proposes 8th Fund Distribution BH DOWNTOWN: Claims to be Paid from Property Sale Proceeds BROWN & BROWN: Unsecureds to Get Share of Income for 3 Years CAROLINA PROUD: Gets OK to Use Cash Collateral Until Sept. 16 COMMSCOPE HOLDING: Inks $10.5B Purchase Deal With Amphenol DISTRICT 7 GRILL: Gets OK to Use Cash Collateral Until Sept. 23 DISTRICT 7 GRILL: Hires Tittle Law Firm as Legal Counsel E.W. SCRIPPS: Redeems $426M Notes Due 2027, Prepays $205M Term Loan ENDI PLAZA: Seeks Approval to Hire A.Y. Strauss as Legal Counsel EPRESENCE INC: Shareholders' Responses to Suit Due Sept. 5, 2025 EXELA TECHNOLOGIES: Reports 27M XBP Shares, 6.6M Warrants FIRST CLASS: Unsecured Creditors to Split $500K over 5 Years FUTURA ENTERPRISES: Gets Final OK to Use Cash Collateral GILBERT LEGGETT: Hires Cumbee & Taylor as Accountant INSPIREMD INC: Velan Capital Holds 5.1% Equity Stake INTEGRITY REAL: Taps Cox Law as General Real Estate Counsel IQSTEL INC: Signs MOU With Cycurion for Stock Exchange, Partnership K&D'S SANTA CRUZ: Case Summary & 15 Unsecured Creditors KLE EQUIPMENT: Seeks to Extend Plan Exclusivity to November 19 LEFEVER MATTSON: Court OKs Deal to Use Socotra's Cash Collateral MEDWELLAI INC: Consolidates Series C and D Preferred Stock NEW AGE: Files Amendment to Disclosure Statement NEW EARTH: Gets Interim OK to Use Cash Collateral Until Sept. 3 NORDICUS PARTNERS: Expands Board With Three New Directors ORIGINCLEAR INC: Posts $8 Million Q2 Loss on Sliding Revenue PAWLUS DENTAL: Seeks to Extend Plan Filing Deadline to August 26 PEARL RESOURCES: Taps Beck Redden/Walker & Patterson as Counsels POOLE FUNERAL: Court Extends Cash Collateral Access to Sept. 18 POWER SOLUTIONS: Gary Winemaster Holds 8.4% Equity Stake RENOVARO INC: Gets Nasdaq Extension to Hold Annual Meeting SHARPLINK GAMING: Registers 8M Shares Under 2023 Incentive Plan SILVERROCK DEVELOPMENT: Akerman Represents Trust & Cypress Point SMITH MICRO: Registers 1.6M Shares for Possible Resale SMITH MICRO: Registers 250K Shares for Employee Stock Purchase Plan SMITH MICRO: Registers 3M Additional Shares for Incentive Plan SOLIGENIX INC: Falls Short of Nasdaq Equity Rule as of June 30 SPHERE 3D: Posts Fiscal Q2 Net Income of $1.7 Million SRX HEALTH: Cancels 18.8M Shares Amid CCAA Proceedings SUNTERRA FOOD: Deadline to File Claims Set in CCAA Case SUNTERRA FOOD: Gets Court's Initial Stay Order; FTI as Monitor TOG HOTELS: Plan Exclusivity Period Extended to September 18 TOR WELLNESS: Gets Interim OK to Use Cash Collateral TPI COMPOSITES: Court Approves First Motions In Bankruptcy Case TRINSEO PLC: Increases Shares by 2.4M Under Omnibus Plan UNIFIED SCIENCE: Has Deal on Cash Collateral Access USA STAFFING: Seeks to Hire Angela Welch as Accountant VENUS CONCEPT: Extends Bridge Loan With Madryn Entities to Aug. 31 VENUS CONCEPT: Removes Automatic Conversion for Preferred Shares VIRIDOS INC: Seeks to Extend Plan Exclusivity to Nov. 10 VMR CONTRACTORS: Court Extends Cash Collateral Access to Sept. 19 VOSSEKUIL PROPERTIES: Claims to be Paid from Property Sale Proceeds WFO LLC: Trustee to Expand Role of Dykema as Bankruptcy Counsel WOODCREST CONDOMINIUMS: Case Summary & Seven Unsecured Creditors WORKSPORT LTD: Issues Corporate Update on Bitcoin Growth XCEL BRANDS: Expects to Raise $2M in Public Offering Led by Maxim XWELL INC: Regains Compliance With Nasdaq's Minimum Bid Price Rule ZOOZ POWER: Closes $5M Initial Private Placement in $180M Deal [] SEDA Experts Appoints Mark B. Cohen As Bankruptcy Expert ********* 100 PERCENT CHIROPRACTIC: Gets Interim Cash Collateral Access ------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Georgia, Atlanta Division granted 100 Percent Chiropractic Foster, LLC interim approval to use cash collateral. The interim order authorized the Debtor to use cash collateral from August 11 to 26 as set forth in its budget to fund critical business operations and preserve asset value. The Debtor identifies Gill Valerio, Ridgestone Capital, Kalmata Capital, Tactic Franchising, and the U.S. Small Business Administration as the lenders that may assert liens on the cash collateral, with SBA holding first-position lien. To the extent they hold a valid lien, security interest, or right of setoff as of the petition date, lenders will be granted a valid and properly perfected replacement lien on all property acquired by the Debtor after the petition date that is similar to their pre-bankruptcy collateral. The replacement liens do not apply to any Chapter 5 avoidance actions. Meanwhile, the court ordered the Debtor to pay the Subchapter V trustee deposits earmarked for purposes of paying any compensation awarded to the trustee. The Debtor was ordered to pay a monthly deposit of $1,000, starting on August 31 until further order. A final hearing is scheduled for August 26. About 100 Percent Chiropractic Foster 100 Percent Chiropractic Foster, LLC, operates a wellness clinic providing chiropractic care, massage therapy, and nutritional supplements. It offers services such as corrective chiropractic treatment, family wellness programs, personal injury care, prenatal and pediatric care, and therapeutic massage. It is part of the 100% Chiropractic franchise network, which operates across the U.S. 100 Percent filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-58291) on July 24, 2025. In the petition signed by Jamie Foster, manager, the Debtor disclosed up to $1 million in assets and up to $10 million in liabilities. Judge Stacey G. Jernigan oversees the case. Will Geer, Esq., at Rountree, Leitman, Klein & Geer, LLC, represents the Debtor as legal counsel. 1522 C STREET: Seeks to Hire Brett Weiss as Legal Counsel --------------------------------------------------------- 1522 C Street, LLC seeks approval from the U.S. Bankruptcy Court for the District of Columbia to hire Brett Weiss of The Weiss Law Group, LLC to serve as legal counsel in its Chapter 11 case. Mr. Weiss will provide these services: (a) provide legal advice with respect to the powers, rights, and duties of the Debtor and Debtor-in-Possession; (b) provide legal advice and consultation related to the legal and administrative requirements of this case, including assisting in complying with the procedural requirements of the Office of the United States Trustee and the Subchapter V Trustee; (c) take appropriate actions to protect and preserve the Estate, including prosecuting actions on the Debtor's behalf, defending actions commenced against the Debtor, representing the Debtor’s interests in negotiations or litigation, and preparing witnesses and reviewing documents; (d) prepare appropriate documents and pleadings, including but not limited to Schedules, Applications, Motions, Answers, Orders, Complaints, Reports, or other documents appropriate to the administration of the Estate; (e) represent the Debtor’s interests at the Initial Debtor Interview, the Meeting of Creditors, any Status Conferences, the Confirmation Hearing, and other hearings before the Court; (f) assist and advise in the formulation, negotiation, and implementation of a Chapter 11 Plan and related documents; (g) assist and advise with respect to negotiation, documentation, implementation, consummation, and closing of transactions, including the sale of assets or the incurring of debt; (h) assist and advise with respect to the use of cash collateral, critical vendors, obtaining financing, and negotiating, drafting, and seeking approval of any related documents; (i) review and analyze claims filed in this case, and advise and represent the Debtor in connection with objections to such claims; (j) assist and advise with respect to executory contracts and unexpired leases, including assumptions, assignments, rejections, and renegotiations; (k) coordinate with other professionals employed in the case; (l) review and analyze applications, orders, motions, and other pleadings and documents filed with the Bankruptcy Court and advise the Debtor thereon; and (m) assist the Debtor in performing such other services as may be in the interest of the Debtor and the Estate and performing all other legal services required by the Debtor. Mr. Weiss will bill at $695 per hour, associates at $400 per hour, and paralegals at $195 per hour. The Weiss Law Group, LLC holds a prepetition retainer of $25,000, with $17,493.50 remaining in escrow. The firm is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Brett Weiss, Esq. THE WEISS LAW GROUP, LLC 8843 Greenbelt Road, Box 299 Greenbelt, MD 20770 Telephone: (301) 924-4400 Facsimile: (240) 627-4186 E-mail: brett@BankruptcyLawMaryland.com About 1522 C Street 1522 C Street, LLC is a real estate lessor that owns multiple condominium units and a residential property in Washington, DC. Its holdings include four units at 244 60th Street NW and a property at 1522 C Street NE. The portfolio has an estimated total value of $1.46 million, based on online real estate appraisal data. 1522 C Street sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.D.C. Case No. 25-00264) on July 9, 2025, with $1,461,989 in assets and $1,071,543 in liabilities. Anthony Whitehead, managing member, signed the petition. Judge Elizabeth L. Gunn presides over the case. Brett Weiss, Esq., at The Weiss Law Group represents the Debtor as bankruptcy counsel. ADVENT TECHNOLOGIES: Issues $235K Convertible Note, Settles Debt ---------------------------------------------------------------- Advent Technologies Holdings, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company entered into a Securities Purchase Agreement with Hudson Global Ventures LLC, pursuant to which Hudson made a loan to the Company, evidenced by a Convertible Promissory Note in the aggregate principal amount of $235,000.00, including an original issue discount of $25,000.00, with interest accruing at an annual rate of 12% to be computed on the basis of a 360-day year. Pursuant to the Securities Purchase Agreement, the Company has also agreed to issue a pre-funded warrant to Hudson Global Ventures to purchase 130,000 shares of the Company's common stock, par value $0.0001 per share, with an exercise price of $0.0001 per share. The Pre-Funded Warrant contains certain adjustment mechanisms upon the dilutive issuance of additional shares of Common Stock. Pursuant to the terms of the Pre-Funded Warrant, Hudson is also entitled to certain purchase rights with respect to subsequent issuances of Common Stock by the Company and pro rata rights to certain distributions and dividends issued by the Company during the term of the Pre-Funded Warrant. Upon the occurrence of: (i) a merger or consolidation, (ii) a sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of the Company's assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether by the Company or another person) is completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Common Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off, merger or scheme of arrangement) whereby a third party acquires more than 50% of the outstanding Common Stock, then Hudson, upon exercise of the Pre-Funded Warrant, Hudson will have the right to receive, for each share subject to the Pre-Funded Warrant, the number of shares of Common Stock of the successor or acquiring entity or the Company if it is the surviving entity, receivable as a result of the Fundamental transaction by a holder of Common Stock immediately prior to the Fundamental Transaction. Under the Promissory Note, the Company is required to make 11 payments of $23,927.27. The first Amortized Payment is due on September 1, 2025, with 10 subsequent Amortized Payments due each month thereafter. The Promissory Note is not secured by any collateral. The Promissory Note matures on July 1, 2026, and contains customary events of default. The Company may pre-pay the full amount due under the Promissory Note by providing Hudson with 10 days' notice and paying an amount equal to 118% of the principal amount to be repaid. In the event the Company fails to make an Amortized Payment in a timely fashion, Hudson will have the right to convert an amount up to the Mandatory Default Amount at a conversion price equal to the lower of: (i) the Conversion Price and (ii) 80% of the lowest trading price in the 10 trading days prior to the conversion, subject to a floor price of $0.10. At the option of Hudson, the Promissory Note may be converted into a number of shares of Common Stock equal to the number determined by dividing (x) that portion of the outstanding balance of the Promissory Note identified by the Company of (A) the outstanding principal amount of the Promissory Note, plus (B) accrued and unpaid interest with respect to such amount and any other amounts owing under the Promissory Note to be converted by (y) the conversion price then in effect on the date on which Hudson delivers a notice of conversion. Hudson may also require the Company to prepay the entire outstanding balance under the Promissory Note upon receipt of notice of a change in control of the Company. The Conversion Price is subject to certain adjustments for stock splits, certain dividends and distributions, dilutive issuances, and certain stock issuances that are deemed dilutive pursuant to the terms of the Promissory Note, including, but not limited to, the issuance of any warrants, rights or options (other than awards issued pursuant to the Company's equity incentive plans). The Promissory Note and Securities Purchase Agreement contain certain customary representations, warranties, and covenants made by the Company. Upon the occurrence and during the continuation of any such event of default, the Promissory Note will become immediately due and payable, and the Company is obligated to pay to Hudson an amount equal to 140% of the outstanding principal amount under the Promissory Note, accrued interest and all other amounts owing pursuant to the Promissory Note. The Company received funding under the Promissory Note on August 1, 2025 and intends to use the proceeds from the Promissory Note for repayment of a financial obligation in connection with the settlement of a $12.25 million claim against the Company and general working capital purposes. On August 1, 2025, the Company entered into that certain Settlement Agreement and Release with Advent Technologies A/S (the "Bankrupt Subsidiary"), v/kurator Ulla Skov, Advent Technologies GmbH, Advent Technologies, Inc., Dr. Emory De Castro, James F. Coffey and Daniel Hennig, pursuant to which the Company has agreed to purchase all of the assets of the Bankrupt Subsidiary in exchange for 100,000 Euros to be paid to the estate of the Bankrupt Subsidiary. In connection therewith, the parties to the Settlement Agreement have agreed to release the other parties from any further claims with respect to the Bankrupt Subsidiary. The Company made payment in full to the Bankrupt Subsidiary on August 1, 2025. The Company estimates that the net effect of the settlement of this claim will eliminate an estimated $12.25 million liability from the Company's balance sheet. About Advent Technologies Headquartered in Livermore, Calif., Advent Technologies Holdings, Inc. is an advanced materials and technology development company operating in the fuel cell and hydrogen technology space. Advent develops, manufactures and assembles the critical components that determine the performance of hydrogen fuel cells and other energy systems. To date, Advent's principal operations have been to develop and manufacture Membrane Electrode Assembly (MEA), and fuel cell stacks and complete fuel cell systems for a range of customers in the stationary power, portable power, automotive, aviation, energy storage and sensor markets. The Woodlands, Texas-based M&K CPAS, PLLC, the Company's auditor since 2024, issued a "going concern" qualification in its report dated June 6, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, citing that the Company has yet to achieve profitable operations, has negative cash flows from operating activities, and is dependent upon future issuances of equity or other financings to fund ongoing operations all of which raises substantial doubt about its ability to continue as a going concern. As of December 31, 2024, the Company had $8 million in total assets, $29.3 million in total liabilities, and $21.3 million in total stockholders' deficit. AFM MATTRESS: Hires Goldstein & McClintock as Bankruptcy Counsel ---------------------------------------------------------------- AFM Mattress Company LLC seeks approval from the U.S. Bankruptcy Court for the District of Delaware to hire Goldstein & McClintock LLLP as its counsel. The firm will render these services: a. advise the Debtor with respect to the powers and duties of the Debtor in the continued management and operation of its business; b. attend meetings and negotiate with representatives of creditors and other parties involved in the Debtor's Chapter 11 case; c. take all necessary action to protect and preserve the Debtor's estate; d. prepare legal papers; e. take any necessary action on behalf of the Debtor to obtain approval of a disclosure statement and confirmation of the Debtor's plan of reorganization; f. represent the Debtor in connection with obtaining use of cash collateral and post-petition financing to the extent necessary; g. advise the Debtor in connection with any potential sale of assets; h. appear before the bankruptcy court, any appellate courts, and the U.S. trustee; and i. perform all other necessary legal services to the Debtor in connection with the Chapter 11 case. The firm will be paid at these hourly rates: Matthew E. McClintock, Partner $675/hour Jeffrey C. Dan, Partner $605/hour Joshua Grenard, Partner $675/hour Maria Aprile Sawczuk, Partner $585/hour William Thomas, Associate $395/hour Aaron Harburg, Associate $375/hour Katelynne Taborski, Paraprofessional $235/hour Alexander Klemens, Law Clerk $195/hour The firm received an advance payment retainer in the total amount of $65,000. In addition, the firm will seek reimbursement for expenses incurred. Jeffrey Dan, Esq., a partner at Goldstein & McClintock, disclosed in a court filing that his firm is a "disinterested person" as that term is defined in Section 10114 of the Bankruptcy Code. The firm can be reached through: Jeffrey C. Dan, Esq. Goldstein & McClintock LLLP 111 W. Washington Street, Suite 1221 Chicago, IL 60602 Telephone: (312) 337-7700 Facsimile: (312) 277-2310 AFM Mattress Company LLC AFM Mattress Company LLC, doing business as American Mattress, a retail mattress company based in Elk Grove Village, Illinois. AFM Mattress Company sought relief under Chapter 11 of the U.S. Bankruptcy Code Bankr. D. Del. Case No. 25-11288 on July 6, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and liabilities. The Debtor is represented by: Maria Aprile Sawczuk, Esq. Goldstein & Mcclintock, LLLP Tele: (302) 444-6710 Email: marias@goldmclaw.com AFM MATTRESS: Seeks to Hire Kreshmore Group as Financial Advisor ---------------------------------------------------------------- AFM Mattress Company LLC seeks approval from the U.S. Bankruptcy Court for the District of Delaware to hire Kreshmore Group as financial advisor. The firm's services include: a. providing financial analysis, profitability, and weekly cash flow forecasting, which will be used to manage liquidity and track operating performance, along with the mitigation and elimination of instances of underperformance; b. assessing the Debtor's profitability by location, sales channel, product, or any other metrics to understand the causes of the Debtor's profits and losses to address potential underperformance and focus the Debtor's efforts on profitable businesses; c. budgeting the Debtor's costs and assessing each line item for potential cost savings; d. assessing and improving the Debtor's liquidity by focusing on working capital efficiency, such as assessing ways to manage accounts payable and vendor relationships to receive the highest value for spending, as well as reviewing the inventory planning analysis and assisting the Debtor with the same; e. managing relationships with Pontiac, the Debtor's senior secured lender, among other stakeholders; f. negotiating with landlords regarding lease rental amounts and working with the Debtor to determine the value of certain leases in decisions to assume or reject leases; g. in the event the Debtor chooses to engage in a sale process, either serving as the Debtor's investment banker or assisting the party that is selected as the Debtor's investment banker; and h. performing other necessary services as the Debtor or the Debtor's counsel may request from time to time with respect to the financial, business, and economic issues that may arise. Kreshmore's rates are: Senior Professional Staff $500 per hour Director $395 per hour Senior Associate $300 per hour Associate/Analyst $200 per hour David Wabick, a partner at Kreshmore Group, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: David Wabick, Esq. Kreshmore Group 14216 McCarthy Rd. Lemont, IL 60439 Tel: (708) 719-4118 AFM Mattress Company LLC AFM Mattress Company LLC, doing business as American Mattress, a retail mattress company based in Elk Grove Village, Illinois. AFM Mattress Company sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11288) on July 6, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and liabilities. The Debtor is represented by: Maria Aprile Sawczuk, Esq. Goldstein & Mcclintock, LLLP Tele: (302) 444-6710 Email: marias@goldmclaw.com ALACHUA GOVERNMENT: Hires Ashby as Special Conflicts Counsel ------------------------------------------------------------ Alachua Government Services, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Delaware to hire Ashby & Geddes, P.A. to serve as special conflicts counsel in its Chapter 11 case. Ashby & Geddes will provide these services: (a) render legal services during the pendency of the Chapter 11 case; (b) assist the Debtor in addressing the Conflict Matters for which Richards, Layton & Finger, P.A. has, or may have, actual or potential conflicts of interest with non-estate parties; and (c) pursue the Conflict Matters, as may be necessary, for the benefit of the Debtor's estate. The firm will be paid at these hourly rates: partners/of counsel $695 to $1225 associates $420 to $650 paralegals/legal secretaries $275 to $375 The principal attorneys and paralegals presently designated to represent the Debtor, and their current standard hourly rates, are: Ricardo Palacio, Director $825 Destiny Kosloske, Associate $420 Kristy Jones, Paralegal $345 Anthony Dellose, Paralegal $345 Ashby & Geddes is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: ASHBY & GEDDES, P.A. 500 Delaware Avenue, 8th Floor Wilmington, DE 19801 Mailing Address: P.O. Box 1150, Wilmington, DE 19899 Telephone: (302) 654-1888 Facsimile: (302) 654-2067 About Alachua Government Services, Inc. Alachua Government Services Inc., is a pharmaceutical and medicine manufacturing company formerly known as Ology Bioservices. The company, based in Alachua, Florida, operates in the pharmaceutical manufacturing sector. Alachua Government Services Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11289) on July 6, 2025. In its petition, the Debtor reports estimated assets between $50 million and $100 million and estimated liabilities between $100 million and $500 million. Judge J. Kate Stickles oversees the case. Richards, Layton & Finger, P.A. is Debtor's legal counsel. ALEON METALS: Case Summary & 30 Largest Unsecured Creditors ----------------------------------------------------------- Lead Debtor: Aleon Metals, LLC 302 Midway Road Freeport, Texas 77542 Business Description: The Debtors own and operate a multipurpose solid waste disposal facility in Freeport, Texas, specializing in the extraction and refinement of metals used in the energy industry. They focus on processing spent catalysts from petroleum refining to recover vanadium and molybdenum, which have a range of chemical and industrial applications. The Debtors are also developing a hydrometallurgical recycling process for lithium-ion batteries that would convert aluminum waste from its catalyst recycling operations into battery-grade materials for cathode production. Chapter 11 Petition Date: August 17, 2025 Court: United States Bankruptcy Court Southern District of Texas Three affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- Aleon Metals, LLC (Lead Case) 25-90305 Aleon Renewable Metals, LLC 25-90306 Gladieux Metals Recycling, LLC 25-90307 Judge: Hon. Christopher M Lopez Debtors' Bankruptcy Counsel: Jason L. Boland, Esq. Bob B. Bruner, Esq. Julie Harrison, Esq. Maria Mokrzycka, Esq. NORTON ROSE FULBRIGHT US LLP 1550 Lamar, Suite 2000 Houston, Texas 77010 Tel: (713) 651-5151 Fax: (713) 651-5246 Email: jason.boland@nortonrosefulbright.com Email: bob.bruner@nortonrosefulbright.com Email: julie.harrison@nortonrosefulbright.com Email: maria.mokrzycka@nortonrosefulbright.com AND Jennifer L. Marines, Esq. Benjamin Butterfield, Esq. Andrew Kissner, Esq. MORRISON & FOERSTER LLP 250 West 55th Street New York, New York 10019 Tel: (212) 468-8000 Fax: (212) 468-7900 Email: jmarines@mofo.com Email: bbutterfield@mofo.com Email: akissner@mofo.com Debtors' Local Bankruptcy Counsel: NORTON ROSE FULBRIGHT US LLP Debtors' Restructuring & Financial Advisor: ANKURA CONSULTING GROUP, LLC Debtors' Investment Banker: JEFFERIES LLC Debtors' Claims & Noticing Agent: STRETTO, INC. Estimated Assets: $100 million to $500 million Estimated Liabilities: $100 million to $500 million The petitions were signed by Roy Gallagher as chief restructuring officer. A full-text copy of the Lead Debtor's petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/UXQRKJQ/Aleon_Metals_LLC__txsbke-25-90305__0001.0.pdf?mcid=tGE4TAMA Consolidated List of Debtors' 30 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Hoover Ferguson Trade $2,142,366 4935 Timbercreek Drive Houston, TX 77017 Denise Rogers Phone: (713) 725-4282 Email: Denise.Rogers@hooversolutions.com 2. Constellation New Energy Trade $1,216,211 1001 Louisiana St, Ste 2300 Houston, TX 77002 Nancy Fischer Phone: (888) 635-0827 Email: CustomerCareTX@constellation.com 3. Cenovus Energy Inc. Trade $950,385 225 - 6 Ave SW Calgary, AB T2P 0M5 Canada Jaclyn Bexson Phone: 4037662000 Email: jaclyn.bexson@cenovus.com 4. Reagent Chemical & Trade $775,723 Research, LLC 115 US Highway 202 South Ringoes, NJ 08551 Nicki Roccaforte Phone: (800) 231-1807 Email: nroccaforte@reagentchemical.com 5. Hatch Associates Consultants Professional $356,214 375 N Shore Dr. Services Pittsburgh, PA 15212 Rob Fraser Phone: 412-497-2000 Email: rob.fraser@hatch.com 6. Energy Rental Solutions, LLC Trade $316,778 4300 Rice Drier Pearland, TX 77581 Sandra Bourque Phone: (877) 291-3354 Email: sandra.bourque@ers-cat.com 7. FLO-BIN CCKX, Inc. Trade $276,006 PO Box 752407 Houston, TX 77275 Angela Mangum Phone: (832) 224-9073 Fax: (832) 224-4319 Email: angela.mangum@flobin.com 8. Evonik Corporation Trade $263,771 2 Turner Corporation Piscataway, NJ 08854 Siboney Vargas-Rodriguez Phone: (337) 837-3403 Email: siboney.vargas-rodriguez@evonik.com 9. GLC Advisors Professional Undetermined 600 Lexington Ave Services Fl 9 New York, NY 10022 Michael Kizer Phone: (212) 600-2408 Email: michael.kizer@glca.com 10. Plante & Moran PLLC Professional $216,728 250 High Street Services Suite 500 Columbus, OH 43215 Keith S. Martinez Phone: (231) 932-5656 (248) 233-9183 Email: plantemoran@myworkday.com 11. Gulf Coast Filters & Trade $214,951 Supply Inc. 1126 N Hwy 146 Baytown, TX 77520 Chad Beck Phone: (281) 837-8808 (281) 837-8810 Email: cbeck@gcfilters.com 12. Kline Alvarado Veio, P.C. Professional $183,100 1775 Sherman Street Services Suite 1790 Denver, CO 80203 T. J. Mancuso Phone: (303) 246-0742 Email: tjmancuso@kvfirm.com 13. National Tank & Equipment, LLC Trade $178,024 500 W 5th Street Suite 750 Austin, TX 78701 Dana Stephenson Phone: (888) 213-7950 Email: dstephenson@4hornmgmt.com 14. SGS Canada Inc. Trade $167,272 185 Concession Street Lakefield, ON K0L 1H0 Canada Roxanne Naidoo Email: roxanne.naidoo@sgs.com 15. Briggs Industrial Solution Trade $149,971 10540 N Stemmons Fwy Dallas, TX 75220 Mark Brammer Phone: (346) 547-9196 Email: mark.brammer@briggsequipment.com 16. Eurecat Trade $146,291 13100 Baypark Rd Pasadena, TX 77507 Marilyn Warren Phone: (281) 218-0669 Email: mwarren@eurecat.com 17. H&E Equipment Services Trade $126,734 603 County Rd 227A Freeport, TX 77541 Sierra Taylor Phone: (979) 705-7222 Email: sierra.taylor@hercrentals.com 18. AVS Industrial LLC Trade $126,548 102 S Avenue A Freeport, TX 77541 Marisa Villanueva Phone: (832) 439-1235 Email: marisa@avsservices.com 19. Olin Finance Company LLC Trade $125,497 190 Carondelet Plaza Suite 1530 Clayton, MO 63105 Christine Lade Phone: (832) 302-6278 Email: CLade@olin.com 20. Weaver and Tidwell, LLP Professional Undetermined 2821 West 7th St Services Fort Worth, TX 76107 Ariel Bonno Phone: (817) 882-7740 Email: ariel.bonno@weaver.com 21. Ironclad Environmental Trade $119,605 Solutions 1650 East Freeway Baytown, TX 77521 Abby Goff Phone: (281) 573-0318 Email: AGoff@IroncladEnvironmental.com 22. Dacon Corporation Trade $112,731 1300 Underwood Rd. Deer Park, TX 77536 Jake Sparks Phone: (713) 558-6642 Email: Jake.Sparks@dashiell.com 23. KCG Industrial LLC Trade $109,495 215 Flaglake Drive Clute, TX 77531 Craig Kaspar Phone: (979) 266-9441 Email: craigk@kcgindustrial.com 24. Brock Services, LLC Trade $104,101 431 Commerce Clute, TX 77531 Petra Becerra Phone: (979) 265-9599 (979) 265-9094 Email: Petra.Becerra@brockgroup.com 25. GFL Environmental / Trade $92,022 GFL Plant 2199 N. Business Hwy 77 Robstown, TX 78380 Varsha Rao Phone: (361) 387-4180 Email: vrao@gflenv.com 26. Clear Water Field Trade $82,879 Services LLC 812 East Pasadena Freeway Pasadena, TX 77506 D. Zavala Phone: (713)485-0101 Email: dzavala@integrativeindustry.com 27. Field Service Trade $77,714 Specialists, LLC 6049 South Loop E Suite 6049 Houston, TX 77033 Oscar Tamez Phone: (832) 416-0020 Email: accounting@fssoftx.com 28. Austin Fire Systems, LLC Trade $74,803 13580 Eads Rd Prairieville, LA 70769 Nicole Boyle Phone: (979) 803-3479 Email: nicole.boyle@stopfire.com 29. Industrial Kiln & Dryer Group Trade $65,951 12711 Townepark Way Louisville, KY 40243 Sarah Lee Phone: (502) 244-4031 (502) 244-4024 Email: sarahlee@industrialkiln.com 30. DHA Filter Trade $52,744 36 Knight Boxx Rd Orange Park, FL 32065 Robbie Furler Phone: (904) 269-8701 Email: robbie@dhafilter.com ALGORHYTHM HOLDINGS: Completes $4.5M Sale of Singing Machine Biz ---------------------------------------------------------------- Algorhythm Holdings, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company entered into an asset purchase agreement with The Singing Machine Company, Inc. and Stingray Music USA, Inc., a related party, pursuant to which Stingray USA purchased substantially all of the assets, and assumed most of the liabilities, associated with the Company's Singing Machine business for $500,000. Stingray USA is a subsidiary of Stingray Group, Inc. Mathieu Peloquin, one of the Company's directors, is an officer of Stingray Group. Stingray Group is an entity with which the Company did business through a music subscription sharing agreement. The Business comprises the Company's home karaoke consumer products business. The Agreement provided for the sale of substantially all of the assets, contracts, and intellectual property related to the Business. The transaction closed on August 1, 2025. Under the terms of the deal, Stingray's subsidiary, Stingray Music USA, Inc., acquired all the assets of the Singing Machine's karaoke business. The consideration for the purchased assets (which includes marketable inventory) was $4.5M, paid in cash and by the assumption of selected liabilities and trade payables. Key Highlights of the Transaction: * Strengthened Balance Sheet: The transaction eliminated approximately $4 million in liabilities, vastly improving and de-levering Algorythm's balance sheet going forward. * Reduction in Annual Cash Burn: The sale of the Company's karaoke and consumer electronics business will reduce the company's annual cash outflows by 70%+. * Highly Scalable, Human Capital Light Business Model: The transaction vastly reduces the Company's reliance on human capital. The transaction will eliminate headcount in the US associated with the consumer electronics division. Going forward, almost all expected headcount growth will be in vastly lower cost markets, primarily India. * Focused Capital Allocation: With the sale of Singing Machine, Algorhythm is now strategically positioned to concentrate capital and operational resources on SemiCab--its high-growth AI freight platform--which has more than tripled its annualized revenue run rate since January 2025, reaching approximately $7 million. "The sale of our Singing Machine business represents a major milestone for Algorhythm Holdings," said Gary Atkinson, CEO of Algorhythm in a press release dated August 4, 2025. "Last year, we expanded our business focus toward highly scalable, AI-driven technologies with massive growth potential. With the sale of Singing Machine, we can now fully focus all of our time, energy and capital on accelerating the growth of SemiCab, our rapidly expanding AI freight logistics and distribution platform. We are very excited about what the future holds." Atkinson continued, "We believe this transaction with Stingray will provide a seamless transition for Singing Machine's employees, customers, and partners. I am proud of Singing Machine's legacy as the worldwide #1 brand in the home karaoke market for over 40 years and am confident that the brand under Stingray's stewardship will continue to thrive and dominate the karaoke market for decades to come." Singing Machine is the worldwide leader in consumer karaoke products. Based in Fort Lauderdale, Florida, and founded over forty years ago, it designs and distributes the industry's widest assortment of at-home and in-car karaoke entertainment products. Its product portfolio is marketed under both proprietary brands and popular licenses, including Carpool Karaoke and Sesame Street. Singing Machine products incorporate the latest technology and provide access to over 100,000 songs for streaming through its mobile app and select WiFi-capable products and is also developing the world's first globally available, fully integrated in-car karaoke system. Its products are sold in over 25,000 locations worldwide, including Amazon, Costco, Sam's Club, Target, and Walmart. About Algorhythm Holdings Algorhythm Holdings, Inc., fka The Singing Machine Company, Inc. -- http://www.singingmachine.com/-- is a holding company for an AI enabled software logistics business operated through its SemiCab Holding subsidiary and a home karaoke consumer products company that designs and distributes karaoke products globally to retailers and ecommerce partners through the Singing Machine subsidiary. Philadelphia, Penn.-based Marcum LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated April 15, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 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. As of Dec. 31, 2024, the Company had $18,302,000 in total assets, $28,823,000 in total liabilities, and a total stockholders' deficit of $10,521,000. AON PLC: Vesttoo Creditors Sue Over Fraud, Bankruptcy Collapse -------------------------------------------------------------- The Vesttoo Creditors Liquidating Trust, an independent fiduciary appointed by the U.S. Bankruptcy Court for the District of Delaware, on August 14, 2025, filed a complaint in the Court against Aon plc and certain affiliates, China Construction Bank and an affiliate, and certain entities and individuals for alleged fraudulent conduct and other wrongdoing that inflicted devastating losses upon the insurance industry and led to Vesttoo's bankruptcy. "Vesttoo's collapse was the direct result of Aon and CCB's fraudulent conduct," said Lawrence Hirsh, Liquidating Trustee. "Aon knew there were serious flaws in its CPI product, yet continued to falsely market it as the gold standard in intellectual property valuation. Aon also steered its riskiest transactions to Vesttoo while ignoring glaring red flags regarding Vesttoo's collateral providers, reaping tens of millions in fees while enabling a scheme that destabilized the global insurance market. Absent Aon's false representations about its CPI product, Aon's failure to satisfy its due diligence obligations to Vesttoo and its counterparties, and CCB's facilitation of billions in forged letters of credit, Vesttoo's business would not have relied on the misvalued deals and forged collateral that led to its demise." "As an independent fiduciary appointed by the Court, the Trust is seeking to hold Aon, CCB, and CCB-enabled co-conspirators accountable for the manipulation of and fraud against Vesttoo," continued Hirsh. "This litigation represents an initial step toward justice for insurers and reinsurers who were victimized by Aon's and CCB's actions." Aon Marketed a Fraudulent CPI Product The Complaint alleges Aon knowingly sold its Collateral Protection Insurance ("CPI") product to Vesttoo and other insurance and reinsurance companies based on blatantly false representations. Marketed as a breakthrough insurance mechanism that delivered accurate intellectual property ("IP") valuations, in reality, Aon's CPI product was flawed at its core and built on fraudulent representations of Aon's capabilities and undisclosed conflicts of interest. Despite internal awareness that its CPI product was inherently risky and incapable of delivering on Aon's promises, Aon aggressively scaled the offering, inducing Vesttoo and others into assuming billions of dollars of insurance and reinsurance risk. Aon Ignored Red Flags Surrounding Vesttoo's LOC Fraud to Continue to Scale its CPI Product The Complaint further alleges that Aon disregarded glaring warning signs regarding a scheme orchestrated by a small group of co-conspirators (including Vesttoo employee Udi Ginati and CCB employee Lam Chun-Yin) to produce forged letters of credit and convince Vesttoo that the LOCs were real. Meanwhile, Aon continued to persuade counterparties to participate in Vesttoo-backed transactions, despite not conducting the required due diligence on Vesttoo or its LOC collateral. The Complaint illustrates that Aon saw a golden opportunity in Vesttoo, a well-funded but inexperienced startup. Vesttoo served as Aon's primary path to scale its highly lucrative CPI product, which involved transactions that were significantly riskier than traditional reinsurance. Though Aon knew Vesttoo lacked the track record and operational maturity required for these complex transactions -- and was aware of serious red flags regarding the LOCs provided to Vesttoo -- Aon actively promoted the Company to counterparties to support its CPI product expansion. China Construction Bank Enabled the LOC Forgery Scheme The Complaint also seeks damages from CCB and the co-conspirators in the LOC forgery scheme, including CCB employee Lam, for allegedly fabricating over $2.8 billion in letters of credit that proved to be entirely illusory. Given Lam was licensed to conduct financial transactions for CCB's New York Branch, the perpetrators exploited his authority and used his CCB email address to send the LOCs and to convince Vesttoo and its counterparties that they were bona fide. Although CCB was responsible for its employee's conspiracy to produce forged LOCs under its name, it benefitted from the perceived expansion of its reinsurance LOC business. In particular, its provision of supposed LOCs backing Aon's high-profile CPI transactions raised CCB's profile and enhanced its reputation as a reliable player in the insurance market. Aon's CPI Fraud Triggered Vesttoo's Collapse and Wreaked Havoc on the Insurance Industry The Complaint demonstrates that Aon's CPI transactions were the primary cause of the Company's downfall and the industry-wide chaos that it created. Prior to its involvement with Aon's CPI deals, Vesttoo's insurance and reinsurance counterparties had never drawn on Vesttoo-obtained LOCs. However, as the early-stage companies that were involved in the CPI transactions began to default en masse, it was revealed that the IP collateral for Aon's CPI policies were given wildly overinflated valuations by Aon that proved to cover just a small fraction -- if any -- of the debt the IP was meant to secure. As a result, the insurers and reinsurers in the CPI transactions began drawing on the forged LOCs -- expecting bank-issued collateral -- only to learn that the LOCs were forged, resulting in hundreds of millions in insurance losses. Since Vesttoo's collapse, Aon has recognized that its CPI business was irrevocably flawed. In recent years, Aon has quietly reoriented its business away from CPI transactions. Advisors Selendy Gay PLLC and Richards, Layton & Finger, PA are serving as litigation counsel and C Street Advisory Group is serving as strategic communications advisor to the Vesttoo Creditors Liquidating Trust. About the Vesttoo Creditors Liquidating Trust Vesttoo Creditors Liquidating Trust was established as an independent fiduciary under the oversight of the U.S. Bankruptcy Court to pursue recovery claims on behalf of creditors harmed by Vesttoo's collapse. The Trust's mission is to maximize creditor recoveries and to hold accountable all parties responsible for the losses. About Vesttoo Ltd Vesttoo Ltd. is a technology-driven collateralized reinsurance provider in Tel Aviv, Israel. It connects the insurance industry with the capital markets by combining AI-powered technology with expertise in data science, insurance and finance. Vesttoo and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. (Lead Case No. 23-11160) on August 14 and 15, 2023. The Honorable Bankruptcy Judge Mary F. Walrath oversees the case. The Debtors tapped DLA Piper, LLP (US) as legal counsel and Kroll, LLC as financial advisor. Epiq Corporate Restructuring, LLC is the claims and administrative agent. The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors in the Debtor's Chapter 11 case. The committee tapped Greenberg Traurig, LLP as legal counsel and Alvarez & Marsal North America, LLC as financial advisor. APPLIED MINERALS: Fox Family of Companies File Liquidating Plan --------------------------------------------------------------- Brady McCasland, Inc. ("BMI"), Old Red H2S Scavenger, LLC ("Ole Red"), and BMI Minerals Company ("BMI Co." and collectively with BMI and Ole Red, the "Fox family of companies") submitted a Disclosure Statement describing Second Amended Chapter 11 Plan of Liquidation for Applied Minerals, Inc. dated August 11, 2025. The Fox family of companies are privately held American companies engaged in the mining, manufacturing, and nationwide sale of specialized chemical products used in natural gas processing. Before the Fox family of companies became involved in this Bankruptcy Case, the Debtor and Halloysite proposed a de facto joint plan that was propounded by the Debtor in name only. The initial plan contemplated the continued operations of the Debtor and based the treatment of its creditors on the assumed, but factually unsupported, success of such future operations. This is not a reorganization because the Debtor is not worth saving. It is a clean exit from a failed business that never turned a profit and lost over $127 million in just 13 years, an average loss of over $8,000,000 per year. There is no credible path forward under its current model. The Fox Plan provides creditors with a meaningful path to recovery: immediate cash and a stake in successful, operating businesses with real upside. Unlike the Joint Plan, which proposes to reorganize its business and financial affairs to continue operations in substantially the same manner and method it has to date, which simply recycles a failed business model that has failed for over a decade and precipitated the filing of this Bankruptcy Case, the Fox family of companies offer a clear change and sustainable future. The Fox family of companies propose a plan under which the Debtor will cease operations and all its assets will be purchased and transferred to BMI Co., free and clear of all liens and encumbrances. BMI will fund the Fox Plan through a contribution of $2 million cash and the distribution of 1 million CEI to holders of Class 2 Claims (currently valued at $1.5 million), a total value of $3.5 million ("Purchase Price"). The holders of Allowed Class 2 Claims will receive a Pro Rata Share of at least $1.2 million cash and 1 million CEI units on the Effective Date ("Class 2 Distribution"). The CEIs will entitle each holder to a proportionate share of five percent of the Net Proceeds realized upon the sale of any or all of BMI, Ole Red, or BMI Co. BMI, as the Administrator, shall distribute the CEIs within fifteen days of the Effective Date. The holders of Allowed Class 10 Convenience Claims will receive a Pro Rata Share of the Convenience Claims Fund consisting of a minimum of $70,000.00, which will be ratably divided among the holders of all Allowed Class 10 Claims.6 The distribution of the Allowed Class 10 Convenience Claims is more fully described in section 4.10 of the Fox Plan. Holders of Equity Interests (Class 7) and Subordinated Claims (Classes 8 and 9) will receive no distribution and all equity interests in the Debtor will be cancelled. The Fox family of companies are contributing $3.5 million in value, including a stake in an existing, successful enterprise. Under the Fox Plan, general unsecured creditors will receive: * At least $1.2 million in cash (and potentially up to $2 million) payable immediately upon the Effective Date. * Contractual equity interest currently valued at $1.5 million in the Fox family of companies. Creditors will receive a non-dilutable contractual right to receive five percent of the net proceeds from the future sale of BMI, Ole Red, and/or BMI Co., through Contractual Equity Interests ("CEIs") issued on the Effective Date. These companies are vertically integrated, profitable, and fast-growing. * Full Liquidation of Applied Minerals, Inc. and Termination of Insider Control. The Debtor will be shut down. Insiders including Christopher Carney (longtime CFO and current CEO) and Geoffrey Scott (longtime director, recent Chairman, and insider DIP lender) will be removed. Their joint attempt to recapture the company for themselves, at the expense of the creditors, will be permanently ended. Class 2 consists of General Unsecured Claims. Except to the extent that a holder of an Allowed Class 2 Claim makes a Convenience Class Election, each holder of an Allowed Class 2 Claim shall receive, in full satisfaction of its claim: * a Pro Rata Share of at least $1,200,000.00 (any reduction in the Halloysite Claim will go directly to holders of Allowed Class 2 Claims); and * CEIs (currently valued at $1.5 million) in the Fox family of companies. This is a non-dilutable contractual right to receive five percent of the net proceeds from the future sale of BMI, Ole Red, and/or BMI Co. Class 10 consists of Convenience Claims. Except to the extent that a holder of an Allowed Class 10 Claim makes the Class 2 Treatment Election, on the Effective Date and in full satisfaction of each such Claim, the holders of Allowed Class 10 Claims shall receive a Pro Rata Share of $70,000, ratably divided among the holders of all Allowed Class 10 Claims. All payments and cash distributions to Creditors under the Fox Plan shall be funded and paid from the following sources: * Cash on Hand as of the Effective Date. BMI may use any and all cash on hand held by the Debtor immediately preceding the Effective Date, from any source, to fund payment of cash distributions required under the Fox Plan, and for any other purpose determined by BMI in the exercise of its business judgment. BMI does not believe there will be any such cash on hand as of the Effective Date. * Use of Unexhausted Proceeds of DIP Credit Agreement. Any unexhausted or earmarked funds from the DIP Credit Agreement as of the Effective Date shall be advanced and/or funded to BMI. BMI does not believe there will be any unexhausted proceeds from the DIP Credit Agreement. * Plan Funding Transaction. On or before the Effective Date, BMI shall advance and/or fund the aggregate principal amount of $2,000,000.00. The amounts funded by BMI pursuant to the Plan Funding Transaction shall be allocated as set forth in section 5.4.3 of the Fox Plan. A full-text copy of the Disclosure Statement dated August 11, 2025 is available at https://urlcurt.com/u?l=Lj5aNp from PacerMonitor.com at no charge. Attorneys for the Fox family of companies: SPENCER FANE, LLP David L. Pinkston, Esq. P. Matthew Cox, Esq. 10 Exchange Place, Eleventh Floor Post Office Box 45000 Salt Lake City, Utah 84145 Telephone: (801) 521-9000 Email: dpinkston@spencerfane.com mcox@spencerfane.com -and- Richard F. Holley, Esq. R. McKay Holley, Esq. 300 South Fourth Street, Suite 950 Las Vegas, Nevada 89101-6019 Telephone: 702.408.3400 Facsimile: 702.408.3401 Email: rholley@spencerfane.com mholley@spencerfane.com About Applied Minerals Applied Minerals, Inc., is a minerals exploration and mining company. Applied Minerals, Inc., in Eureka, UT, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. D. Utah Case No. 24-25849) on Nov. 11, 2024, listing $1 million to $10 million in assets and $50 million to $100 million in liabilities. Christopher T. Carney as president and chief executive officer, signed the petition. Judge Joel T. Marker oversees the case. COHNE KINGHORN, P.C., serves as the Debtor's legal counsel. ASCEND PERFORMANCE: Hires GA Group as Valuation Advisor ------------------------------------------------------- Ascend Performance Materials Holdings Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire GA Group Advisory & Valuation Services, LLC to serve as valuation advisor. GA Group will provide these services: (a) review data provided by the Debtors and fixed asset accounting records; (b) perform a "Desktop" valuation of the personal property and inventory without physical inspection at twelve locations specified in the Engagement Letter and as selected with the management of the Debtors; (c) perform a "Desktop" valuation of the personal property described in the Engagement Letter under lease agreement without physical inspection; (d) apply the market approach to estimate value of certain personal property through the comparison of pricing, recent sales, and other transaction data for guideline assets similar to the subject assets; (e) apply the cost approach to estimate the value of the personal property, by class and location, under a liquidation basis, using a trending methodology if appropriate fixed asset accounting data is available; and (f) perform a "Desktop" valuation of the real property without physical inspection at eight locations specified in the Engagement Letter and as selected with the management of the Debtors. GA Group will be paid a flat fee, inclusive of all costs, totaling $135,250 for the completion of the appraisals, with 50% due upon execution of the Engagement Letter and the balance due upon completion but before release of any verbal values, drafts, or the final report. GA Group is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: GA Group Advisory & Valuation Services, LLC 30870 Russell Ranch Road, Suite 250 Westlake Village, CA 91362 About Ascend Performance Materials Holdings The Debtors, together with their non-Debtor affiliates, are one of the largest, fully-integrated producers of nylon, a plastic that is used in everyday essentials, like apparel, carpets, and tires, as well as new technologies, like electric vehicles and solar energy systems. Ascend's business primarily revolves around the production and sale of nylon 6,6 (PA66), along with the chemical intermediates and downstream products derived from it. Common applications of PA66 include heating and cooling systems, air bags, batteries, and athletic apparel. Headquartered in Houston, Texas, Ascend has a global workforce of approximately 2,200 employees and operates eleven manufacturing facilities that span the United States, Mexico, Europe, and Asia. Ascend Performance Materials Holdings Inc. and its affiliates filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90127) on April 21, 2025. In the petitions signed by Robert Del Genio, chief restructuring officer, the Debtors disclosed $1 billion to $10 billion in both estimated assets and liabilities. Judge Christopher M. Lopez oversees the cases. The Debtors tapped Bracewell LLP and Kirkland & Ellis LLP as counsel; PJT Partners, Inc. as investment banker; FTI Consulting, Inc. as restructuring advisor; and Deloitte LLP as tax advisor. Epiq Corporate Restructuring LLC is the Debtors' claims, noticing, and solicitation agent. ATLANTIC NATURAL: Completes Loma Linda Sale In Bankruptcy Case -------------------------------------------------------------- Atlantic Natural Foods, LLC (ANF), a shelf-stable manufacturer of award-winning Loma Linda(R), neat(TM) and TUNO(TM) brands, has confirmed the completion of the sale of select assets under Century Pacific North America. The company has completed the Bid Process for the sale of its iconic Loma Linda(R), neat(TM), and TUNO(TM) business units, as well as Kaffree Roma(TM), approved by United States Bankruptcy Court for the Eastern District of Louisiana. For the past two years, ANF has been in the process of transitioning certain production of Loma Linda legacy products into the operations of Century Pacific, transferring selected equipment and dedicating key resources. This process has been led by Kelly Krause, EVP and Chief Development Officer of ANF. "As we look back on the last 20 years of production, it's been a unique journey, and we want to ensure the next 20 years of food production are fruitful for the plant-based community," said Douglas Hines, Chairman and founder of Atlantic Natural Foods. "We are building a generational future for the Seventh Day Adventist community, along with the world's vegan consumers who look to Loma Linda for their daily food staples." In 1980, Hines began trade with Century Pacific's founder, Ricardo Po, an amazing entrepreneur in Asia. Po saw an opportunity to create leadership in the food industry in the Philippines and expand around the world. His dream, coupled with pure grit, delivered success. Today, the company is continuing this legacy with the completion of the transaction under the leadership of the Po family, which operates with the same principles upon which the company was founded. Christopher Po, Executive Chairman of Century Pacific, is committed to delivering related food solutions that ensures global access to all consumers of healthy food. Meanwhile, his brother Teodoro, (Ted) Po, Century Pacific's President and CEO, is leading shoulder to shoulder to create a $1.4 Billion global business, including their own UnMeat brand of plant-based product. "Over forty-five years later, I am proud to have witnessed the growth that has been built with true vision and generational purpose at Century Pacific. It is my pleasure to confirm the announcement as the baton passes to Century. It was a painful path to get here but allows a continuation of Loma Linda with supply to over 30 countries, and I am confident that the legacy will continue," added Hines. There will be a transition period over the next 60 days and the parties will be reaching out to all markets. Effective Thursday, August 15, Loma Linda will be shipping and delivering products that were created 130 years ago by John Kellogg under its new ownership. About Century Pacific LTD Century Pacific North America is a subsidiary of Century Pacific Food, Inc., one of the leading food companies in the Philippines, focused on providing affordable nutrition to its broad consumer base. The company has an extensive global presence, available in approximately 80 markets worldwide. The group is home to market leading food brands and a pioneer in large scale plant-based meat alternatives with its brand, unMEAT. To date, unMEAT is available in about 13,000 points of sale globally. About Atlantic Natural Foods LLC Atlantic Natural Foods, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. La. Case No. 25-10676) on April 7, 2025, listing between $10 million and $50 million in assets and between $1 million and $10 million in liabilities. J. Douglas Hines, manager, signed the petition. Judge Meredith S. Grabill oversees the case. The Debtor tapped Tristan Manthey, Esq., at Fishman Haygood, LLP as counsel and Malcom M. Dienes LLC as accountant. BEELINE HOLDINGS: Board Adopts Amended Code of Conduct and Ethics ----------------------------------------------------------------- Beeline Holdings, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Board of Directors approved an amended Code of Conduct and Ethics that applies to all of the Company's employees, officers, and directors to, among other things, update and supplement the description of the Company's assets and policies relating thereto, and expand upon workplace conduct and policies applicable to the Company's employees, officers, directors and consultants. The Company will disclose, on the Company's website, any amendment to, or a waiver from, a provision of the Code of Ethics that applies to our principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions and that relates to any element of the Code of Ethics enumerated in applicable rules of the Securities and Exchange Commission. The foregoing descriptions of the Code of Ethics and the transactions contemplated thereby described in this Current Report on Form 8-K do not purport to be complete, and are qualified in their entirety by the complete text of such Code of Ethics, a copy of which is available https://tinyurl.com/mrx57xjs About Beeline Holdings Beeline Financial Holdings, Inc. is a trailblazing mortgage fintech transforming the way people access property financing. Through its fully digital, Al-powered platform, Beeline delivers a faster, smarter path to home loans-whether for primary residences or investment properties. Headquartered in Providence, Rhode Island, Beeline is reshaping mortgage origination with speed, simplicity, and transparency at its core. The company is a wholly owned subsidiary of Beeline Holdings and also operates Beeline Labs, its innovation arm focused on next-generation lending solutions. Boca Raton, Florida-based Salberg & Company, P.A., the Company's auditor since 2024, issued a "going concern" qualification in its report dated April 15, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company has incurred recurring losses and negative cash flows from operations since its inception, has a significant working capital deficit, and is dependent on debt and equity financing. These matters raise substantial doubt about the Company's ability to continue as a going concern. As of Dec. 31, 2024, the Company had $66.5 million in total assets, $17.5 million in total liabilities, and a total stockholders' equity of $49 million. BENTLEY FINANCIAL: Receiver Proposes 8th Fund Distribution ---------------------------------------------------------- David H. Marion, receiver of Robert L. Bentley, Bentley Financial Services Inc. and Entrust Group ("Bentley Financial Services Receivership") notified the claimants of Bentley Financial Services Receivership that the motion to approve eighth distribution of funds was filed in the United States District of Court for the Eastern District of Pennsylvania on July 23, 2025. A copy of the motion may be obtained at the offices of the clerk of court 601 Market Street, Philadelphia, Pennsylvania 19106. Objections or oppositions to the motion must be filed with the clerk of court within 14 days of publication. The receiver can be reached at: David H. Marion Receiver c/o Thomas B. Fiddler White and Williams LLP Counsel for the Receiver 1650 Market St. One Liberty Place, Ste. 1800 Philadelphia, PA 19103 Tel: (215) 864-7081 Email: fiddlert@whiteandwillaims.com BH DOWNTOWN: Claims to be Paid from Property Sale Proceeds ---------------------------------------------------------- BH Downtown Miami, LLC and 340 Biscayne Owner, LLC filed with the U.S. Bankruptcy Court for the Southern District of Florida a Joint Disclosure Statement describing Chapter 11 Plan dated August 11, 2025. BH Downtown Miami, LLC owns 100% of the outstanding membership interests in 340 Biscayne. The membership interest in 340 is BH's only asset. 340 is the fee simple owner of the real property located at 340 Biscayne Boulevard in Miami, Florida (the "Land") as well as the improvements located thereon (the "Building"), which house a hotel, commonly known as Holiday Inn Port of Miami-Downtown, (the "Hotel") (the Land, the Building and the Hotel are, collectively, the "Property"). The issues that gave rise to this bankruptcy filing are related to the unpaid mortgage debt due to Cirrus 340BB Lender LLC and Cirrus Real Estate Funding LLC (collectively, "Cirrus"), consisting of a principal amount of $70 Million, plus interest. Since the Petition Date, 340 has continued to operate the Hotel as a debtor-in-possession. The Hotel is operated by a Manager pursuant to a management agreement under the Holiday Inn flag pursuant to a licensing agreement. The Hotel has operated at a profit during the Chapter 11, and the Debtors have paid all of their debts as they become due. The Debtors also retained a broker, Hilco Real Estate, LLC, to market the Property for sale. Upon closing of the sale of the Properties, the creditors will be paid in accordance with the Plan. Debtors shall have no further operation upon the closing of the transaction. 340 anticipates filing a Motion to Approve Sale Approve Sale of Real Property Free and Clear of all Liens, Claims and Encumbrances Pursuant to Sections 363(F) and 105 prior to the Confirmation Date. 340 will sell the Property by private sale or auction, to a purchaser free and clear of all liens, claims and encumbrances, pursuant to Section 363(f) of the Bankruptcy Code, with any liens, claims and encumbrances to attach to the proceeds of the sale. The proceeds of the sale will be used to make the distributions under the Plan. The Property has been appraised at more than $200 Million. The Plan provides for payment in full of all Allowed Claims against each of the Debtors. Class Two consists of General Unsecured Creditors of 340. The General Unsecured claims of 340 include all Allowed claims of Unsecured Creditors that are not part of Class 1, subject to any Objections that are filed and sustained by the Court. The Unsecured Creditors shall be paid in full without interest on the Effective Date. Class 2 is unimpaired. Class Three consists of Equity Holders. 340 shall retain any net sale proceeds after payment of all Class 1 and 2 Claims in full. 340 shall distribute any remaining proceeds after payment of all Allowed Class 1 and 2 Claims in full pursuant to the terms of this Plan to its sole member BH. Class 3 is unimpaired. Class Five consists of General Unsecured Creditors of BH. The General Unsecured claims of BH include all Allowed claims of Unsecured Creditors that are not part of Class 1, subject to any Objections that are filed and sustained by the Court. The Unsecured Creditors shall be paid in full without interest on the Effective Date. Class 5 is unimpaired. Class Six consists of Equity Holders. BH shall retain any net proceeds after payment of all Class 1 and 2 Claims in full. BH shall distribute any remaining proceeds after payment of all Allowed Class 1 and 2 Claims in full pursuant to the terms of this Plan to any equity holder. Class 6 is unimpaired. The creditors will be paid from the sale of the Property, which will be sold by private sale or auction on or before the Effective Date. The sale will be free and clear of all liens, claims and encumbrances, pursuant to Section 363(f) of the Bankruptcy Code, with any liens, claims and encumbrances to attach to the proceeds of the sale. The Debtors submit that there will be sufficient net sales proceeds to make all distributions to Administrative and Tax Claimants and to Classes 1, 2, 3, 4, 5 and 6. The Debtors' Property shall be liquidated, and there shall be no further operations, other than the maintenance of the corporate structure and the payment of claims under the Plan. A full-text copy of the Joint Disclosure Statement dated August 11, 2025 is available at https://urlcurt.com/u?l=EJNNlO from PacerMonitor.com at no charge. Counsel for the Debtors: Pardo Jackson Gainsburg & Shelowitz, PL Linda Worton Jackson, Esq. Linsey M. Lovell, Esq. 100 Southeast 2nd Street, Suite 2050 Miami, Florida 33131 Telephone: (305) 358-1001 Facsimile: (305) 358-2001 Email: LJackson@pardojackson.com LLovell@pardojackson.com sramos@pardojackson.com About BH Downtown Miami BH Downtown Miami, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 24-23028) on Dec. 13, 2024. In its petition, the Debtor reported estimated assets between $100 million and $500 million and estimated liabilities between $50 million and $100 million. Judge Laurel M. Isicoff oversees the case. The Debtor tapped Pardo Jackson Gainsburg & Shelowitz, PL as counsel and Gould & Pakter Associates, LLC as financial expert. BROWN & BROWN: Unsecureds to Get Share of Income for 3 Years ------------------------------------------------------------ Brown & Brown Resources, Inc. d/b/a Home Nursing & Therapy Services ("HNTS") filed with the U.S. Bankruptcy Court for the Western District of Texas a Disclosure Statement describing Plan of Reorganization dated August 11, 2025. The Debtor is a Texas corporation that has operated continuously since its formation in 1982. HNTS was established as a locally owned and operated home health agency committed to providing high quality, community-based care to patients across Bexar County and the surrounding areas. The Debtor leases its corporate offices at 2018 Avenue B, #200, San Antonio, Texas, 78212. The lease is at market rates, and the Debtor anticipates no material changes in occupancy or lease terms. The Debtor owns no real property. Since filing its Chapter 11 petition on March 17, 2025, the Debtor has continued operations and has refocused efforts on profitability, stabilizing operations, and addressing liquidity constraints. The filing resulted in frozen cash collateral, returned checks, and loss of confidence among staff and vendors, creating significant attrition across clinical, QA, and administrative teams. The Debtor's pro forma financial projections assume restoration of skilled revenue to $350,000 per month, stabilization of long-term care revenue at $160,000 per month, resolution of the QA backlog, and implementation of a structured cost containment strategy. The October 2025 payroll has been explicitly adjusted for a three payroll month, and additional months will be updated in the forecast as dates are finalized. The Class 7 claims consist of the claims of unsecured creditors which existed prior to confirmation. The unsecured claims consist of the claims scheduled on the Debtor's Schedules (Schedule F) filed with the Court, and as amended, and are estimated to be in the approximate amount of $2,980,893.96 (including the general unsecured claim of the Internal Revenue Service in the amount of $39,591.05). The Class 7 creditors are to be paid through quarterly installments based upon a fifty percent of the quarterly net income. The Debtor is proposing to retain 30% of the net income to assist it with future operations, employee retention, upgrading future services and projected industry changes. The quarterly payments to Class 7 creditors are to be made on a pro-rata basis. The first three-month period begins on the first day of the month following the Effective Date of the Plan and the payments to Class 7 creditors are to be made within thirty days from the end of each three-month period. The estimated payout to Class 7 creditors is based upon a three-year payout. Based upon the projected amount of Class 7 unsecured creditors, the projected payout is approximately fifteen percent of the Class 7 claims. The payment percentage could increase based upon the amount of Class 7 creditors who receive the six percent lump sum payment. The Class 7 claims are deemed to be impaired under the Plan and are entitled to vote on the Plan. The Class 8 claimants, the Debtor's Shareholders will retain all ownership rights as the stockholders, subject to the terms contained herein. The Debtor is owned 100% by Eduardo J. Guimbarda. The Class 8 claims are deemed to be unimpaired under the Plan and not entitled to vote. The Plan is feasible as a result of the income to be generated from the operation of the Debtor's business going forward. The operation of the business generates sufficient income to service the debts of the Debtor, including the Plan payments proposed herein, for the foreseeable future. A full-text copy of the Disclosure Statement dated August 11, 2025 is available at https://urlcurt.com/u?l=Y9WKot from PacerMonitor.com at no charge. Counsel to the Debtor: William R. Davis, Jr., Esq. Langley & Banack, Inc. 745 E. Mulberry, Suite 700 San Antonio, TX 78212 Telephone: (210) 736-6600 Email: wrdavis@langeybanack.com About Brown & Brown Resources Brown & Brown Resources, Inc., operating as Home Nursing & Therapy Services, is a home health care provider specializing in delivering nursing and therapy services to individuals in need of in-home care. Brown & Brown Resources sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Texas Case No. 25-50501) on March 17, 2025, listing $2,128,167 in assets and $3,848,513 in liabilities. Eduardo J. Guimbarda, president of Brown & Brown Resources, signed the petition. Judge Michael M Parker oversees the case. William R. Davis, Jr., at Langley & Banack, Inc., is the Debtor's legal counsel. CAROLINA PROUD: Gets OK to Use Cash Collateral Until Sept. 16 ------------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of North Carolina, Greenville Division granted Carolina Proud Investment Group, LLC interim approval to use cash collateral until September 16. The interim order authorized the Debtor to use rental income that constitutes cash collateral of two secured creditors, GREM, LLC and United Bank, to cover operating expenses during its Chapter 11 case. The budget projects total operational expenses of $9,536.00 for the period from Aug. 16 to Sept. 16. As adequate protection for the Debtor's use of their cash collateral, secured creditors will be granted a post-petition lien on all cash, payments and receivables for collected rents and future collected rents by the Debtor during the pendency of the interim order. The post-petition liens will have the same validity, extent and priority as the secured creditors' pre-bankruptcy liens. In addition, the Debtor was ordered to pay $4,500 to GREM and $700 to United Bank by Sept. 3 as further adequate protection. Meanwhile, the Debtor was ordered to remit the sum of $500 to the IOLTA trust account of C. Scott Kirk, Attorney at Law, for the purpose of payment of the administrative expenses of the Subchapter V trustee from funds received from rents of property not subject to the liens of the secured creditors. A final hearing is scheduled for September 3. About Carolina Proud Investment Group LLC Carolina Proud Investment Group, LLC owns and manages a portfolio of residential and commercial properties, including rental units and vacant land, across multiple locations in North Carolina and Ohio. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 25-01063) on March 24, 2025. In the petition signed by Anna Hromyak, member-manager, the Debtor disclosed $1,035,550 in assets and $797,689 in liabilities. Judge Pamela W McAfee oversees the case. C. Scott Kirk, Esq., at SCOTT KIRK, represents the Debtor as legal counsel. COMMSCOPE HOLDING: Inks $10.5B Purchase Deal With Amphenol ---------------------------------------------------------- CommScope Holding Company, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company and Amphenol Corporation, a Delaware corporation, entered into a Purchase Agreement, pursuant to which Amphenol has agreed to purchase, and the Company has agreed to sell, the Company's Connectivity and Cable Solutions (CCS) reporting segment in exchange for approximately $10.5 billion in cash, on a cash-free, debt-free basis (subject to certain other customary adjustments). The closing of the Transaction will take place on the second business day following the satisfaction or waiver of the closing conditions, which is expected to occur in the first half of 2026. Conditions to the Transaction: The consummation of the Transaction is subject to various closing conditions, including, among other things: a. with respect to each party's obligation to close: * the absence of any injunction or other law that prohibits consummation of the Transaction; * the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and receipt of certain other necessary government consents; * receipt of stockholder approval of the Transaction by the Company's stockholders; b. with respect to the Company's obligation to close: * the accuracy of the representations and warranties of Amphenol, subject to specified materiality standards; * compliance, in all material respects, with the covenants to be performed by Amphenol contained in the Purchase Agreement; c. with respect to Amphenol's obligation to close: * the accuracy of the representations and warranties of the Company, subject to certain specified materiality standards; * compliance, in all material respects, with the covenants to be performed by the Company contained in the Purchase Agreement; * the completion of the restructuring of the Company to effect the separation of the Business from the Company's other businesses in all material respects; * the absence of any development, change, state of facts, condition, circumstance, occurrence, event or effect that, individually or in the aggregate, have had a "material adverse effect" with respect to the Business; * the repayment and discharge of the Company's indebtedness under its existing credit facility and existing indentures on or shortly following the Closing (or the entry into other arrangements permitting the Transaction and agreed to with the lenders or noteholders); and * the delivery of specified carve-out financial statements. Employee Matters: Amphenol has agreed to provide to employees of the Business continued employment (or an offer of employment) that will include: (i) base salary or wages not less than that in effect prior to the Closing through the calendar year in which Closing occurs, (ii) annual cash target bonus opportunities at least equal in the aggregate to that in effect immediately prior to Closing through the calendar year in which Closing occurs, (iii) severance benefits consistent with the Company's or its applicable subsidiaries' existing severance benefits for 12 months following Closing and (iv) other employee benefits that are substantially comparable in the aggregate to the other such employee benefits provided to similarly situated employees of the applicable Amphenol entity for the calendar year in which Closing occurs (other than defined pension benefits and any equity compensation incentives). Termination Rights: The Purchase Agreement may be terminated at any time prior to consummation of the Transaction for customary reasons, including if the Closing has not occurred within 12 months (though this 12-month "Outside Date" will be extended for an additional six months if the Closing cannot occur solely as a result of the lack of certain regulatory approvals) or if the Company's stockholders fail to approve the Transaction. The Purchase Agreement provides that in connection with the termination of the Purchase Agreement under specified circumstances, including termination by the Company to accept and enter into an agreement with respect to a Seller Superior Proposal (as defined in the Purchase Agreement), the Company will pay Amphenol a termination fee of $367,500,000. In the event that either Amphenol or the Company terminates the Purchase Agreement due to the failure to obtain antitrust clearance by the Outside Date or a regulatory authority permanently restraining or enjoining the Transaction, Amphenol will be required to pay the Company a termination fee of $367,500,000. Other Terms of the Transaction: The Purchase Agreement contains customary representations, warranties and covenants for similar transactions that are subject, in some cases, to specified exceptions and qualifications contained in the Purchase Agreement. Certain fundamental representations and warranties will survive for 36 months following Closing. All other representations and warranties expire at the Closing and, after the Closing, the sole remedy of Amphenol for a breach by the Company of such representations and warranties (other than fraud) will be the proceeds of any representation and warranty insurance which may be secured and paid for by Amphenol. The covenants include, among others, the following: (i) the Company is obligated to use commercially reasonable efforts to operate the Business in the ordinary course of business consistent with past practice in all material respects between the execution of the Purchase Agreement and Closing, (ii) the Company agrees to use commercially reasonable efforts to preserve intact the Business and maintain existing relations and goodwill with parties including customers, suppliers and employees between the execution of the Purchase Agreement and Closing, (iii) the Company agrees not to engage in certain activities with respect to the Business between the execution of the Purchase Agreement and Closing, except with the written consent of Amphenol (not to be unreasonably withheld, conditioned or delayed), (iv) the Company agrees, under the terms specified in the Purchase Agreement, not to compete with the Business, or hold any ownership interest in any person who engages in a business that competes with the Business (subject to certain exceptions, including with respect to the Company's retained businesses), for a period of three years after the Closing, and (v) the Company agrees not to solicit for hire or hire certain Business employees for a three-year period following the Closing (subject to customary exceptions). Amphenol has agreed to take certain actions with regard to the non-solicitation of Company employees. The Company has agreed to customary "no-shop" restrictions on its ability to solicit alternative acquisition proposals from third parties and engage in discussions or negotiations with third parties regarding alternative acquisition proposals. Notwithstanding these restrictions, the Company may, under certain circumstances, provide information to and participate in discussions or negotiations with third parties with respect to a bona fide written alternative acquisition proposal that the board of directors of the Company has determined in good faith (after consultation with its outside legal counsel) constitutes or would reasonably be expected to result in a Seller Superior Proposal, if failing to do so would be inconsistent with the board's fiduciary duties under applicable law. Each of the parties is required to use their respective reasonable best efforts to consummate the Transaction, including effecting certain regulatory filings described in the Purchase Agreement and obtaining all necessary consents and authorizations to consummate the Transaction. Amphenol will control, lead and direct all actions, decisions and strategy for, and make all final determinations with respect to obtaining regulatory clearances pursuant to antitrust laws and foreign direct investment law. In connection therewith, Amphenol will not be required to undertake or enter into agreements with any governmental or regulatory authority or commit to dispose of any assets or businesses. The Company has agreed to indemnify Amphenol for losses arising from breaches of the Company's covenants contained in the Purchase Agreement, breaches of certain "fundamental representations," certain liabilities excluded from the Transaction and pre-closing taxes in respect of the Business. Amphenol has agreed to indemnify the Company for losses arising from breaches of Amphenol's covenants contained in the Purchase Agreement, certain guarantees and liabilities transferred to Amphenol in connection with the Transaction. Amphenol has also agreed to pay when due any post-closing taxes of the Business for which the Company could have liability. The Purchase Agreement also provides that the Company will call a special stockholder meeting and take customary steps, including mailing a proxy statement to the Company's stockholders, in order to obtain stockholder approval of the Transaction, which the Company has determined is required under Section 271 of the Delaware General Corporation Law. The Company expects that the consummation of the Transaction will constitute a change of control under the terms of its preferred stock, its existing credit facilities and certain of its existing indentures, and expects to redeem its outstanding shares of preferred stock and repay and discharge all indebtedness under its existing credit facilities and indentures at par or to enter into alternative arrangements under which a portion of the indebtedness under one or more of those agreements remains outstanding after the Transaction. Simultaneous with the closing of the Transaction, the parties will enter into certain ancillary agreements including an Intellectual Property Matters Agreement and a Transition Services Agreement covering certain customary services for a limited period of time following the Closing. Intellectual Property Matters Agreement: In connection with the Transaction, Amphenol will acquire ownership of certain intellectual property rights primarily used or held for primary use in the Business, including the name "CommScope". In addition, the parties have agreed to enter into an Intellectual Property Matters Agreement at Closing. Pursuant to the terms of the Intellectual Property Matters Agreement, the Company will assign to Amphenol those certain intellectual property rights primarily used or held for primary use in the Business. The Company will also license to Amphenol certain intellectual property rights used in the Business on a non-exclusive basis. Amphenol will license back to the Company and its subsidiaries on a non-exclusive basis certain assigned intellectual property for use in the field of the Company's business for use by the Company other than in the field of the Business, as well as provide transitional trademark licenses (covering marks using "CommScope"). Voting Agreements: In connection with the execution of the Purchase Agreement, on August 3, 2025, certain Company directors, certain officers and Carlyle Partners VII S1 Holdings, L.P. (collectively, the "Company Supporting Stockholders") entered into voting and support agreements, pursuant to which the Company Supporting Stockholders have agreed to, among other things, appear in person or by proxy at the stockholder meeting, vote in favor of the adoption of the Purchase Agreement and vote against competing proposals. The Voting Agreements will terminate upon the earliest to occur of: (i) the Closing, (ii) receipt of stockholder approval of the Transaction by the Company's stockholders, (iii) entry into or effectiveness of an amendment to the Purchase Agreement that adversely affects the Company or (iv) the termination of the Purchase Agreement in accordance with its terms. The foregoing description of the Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Purchase Agreement, which is available https://tinyurl.com/5efeekda The Purchase Agreement has been included to provide investors with information regarding its terms. It is not intended to provide any other factual information about the Company, Amphenol or the Business. The representations and warranties contained in the Purchase Agreement were made only for purposes of the Purchase Agreement as of the specific dates therein, were solely for the benefit of the parties to the Purchase Agreement, may be subject to limitations agreed upon by the contracting parties, including being qualified by confidential disclosures made for the purposes of allocating contractual risk between the parties to the Purchase Agreement instead of establishing these matters as facts, and may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors. Investors are not third-party beneficiaries under the Purchase Agreement and should not rely on the representations, warranties and covenants or any descriptions thereof as characterizations of the actual state of facts or condition of the parties thereto or any of their respective subsidiaries or affiliates. Moreover, information concerning the subject matter of representations and warranties may change after the date of the Purchase Agreement, which subsequent information may or may not be fully reflected in the Company's or Amphenol's public disclosures. About CommScope Holding Headquartered in Hickory, North Carolina, CommScope Holding Company, Inc. -- https://www.commscope.com -- is a global provider of infrastructure solutions for communication, data center, and entertainment networks. The Company's solutions for wired and wireless networks enable service providers, including cable, telephone, and digital broadcast satellite operators, as well as media programmers, to deliver media, voice, Internet Protocol (IP) data services, and Wi-Fi to their subscribers. This allows enterprises to experience constant wireless and wired connectivity across complex and varied networking environments. As of March 31, 2025, CommScope Holding Company had $7.5 billion in total assets, $8.8 billion in total liabilities, $1.2 billion in Series A convertible preferred stock and total stockholders' deficit of $2.5 billion. * * * S&P Global Ratings placed its 'CCC+' issuer credit rating on network connectivity provider CommScope Holdings Co. Inc. on CreditWatch with positive implications., as reported by the TCR on Aug. 07, 2025. S&P said, "We will resolve the CreditWatch placement after we collect the necessary information about CommScope's new capital structure, operating strategy, financial outlook, and financial policy, potentially upgrading the issuer credit rating by more than one notch." In March 2025, Moody's Ratings upgraded CommScope Holding Company, Inc.'s ratings including the corporate family rating to Caa1 from Caa2 and the probability of default rating to Caa1-PD from Caa3-PD. CommScope's speculative grade liquidity (SGL) rating was upgraded to SGL-3 from SGL-4. The new backed senior secured term loan and backed senior secured notes issued in December 2024 at CommScope's subsidiary, CommScope, LLC. were assigned a B3 rating and the existing secured notes were confirmed at B3. The existing senior unsecured notes at CommScope, LLC and CommScope Technologies LLC were upgraded to Caa3 from Ca. The B3 rating on the backed senior secured term loan due 2026 was withdrawn. The outlook is stable, previously the ratings were on review for upgrade. These actions conclude the review for upgrade that was initiated on January 8, 2025. The ratings upgrade reflects the refinancing of debt due in 2025 and 2026 with a combination of about $2.1 billion in assets sale proceeds and $4.15 billion in new secured debt as well as Moody's expectations for a significant improvement in operating performance that will lead to a reduction in leverage levels well below 9x in 2025. The ratings are constrained by the existing high pro forma leverage (over 10x as of Q4 2024, including Moody's standard lease adjustments) and the significant amount of debt due in 2027 ($1.6 billion as of Q4 2024). DISTRICT 7 GRILL: Gets OK to Use Cash Collateral Until Sept. 23 --------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Texas, Houston Division granted District 7 Grill Corporation and affiliates interim authority to use the cash collateral of the U.S. Small Business Administration to operate their restaurants. The Debtors operate four restaurants in Houston, Texas, under the District 7 and Table 7 Bistro brands. The financial distress prompting bankruptcy was due to increased food costs and a $255,615 judgment obtained by Tiple D Uniform Rental Inc. Each of the four affiliated companies holds separate SBA EIDLs ranging from approximately $150,000 to $425,000, with the SBA claiming first-priority liens on all assets, including cash. The SBA filed UCC-1 financing statements in 2020 to perfect these liens. The interim order authorized the Debtors to use SBA's cash collateral from Aug. 11 to Sept. 23 to fund operations under a 13-week budget. The Debtor projects total operational expenses of $193,388.96 per week. As adequate protection for the Debtor's use of its cash collateral, SBA will be granted replacement liens on post-petition cash and inventory. The replacement liens do not apply to any Chapter 5 avoidance actions. Texas ad valorem tax liens are deemed senior to SBA liens under state law. As further protection, SBA will receive a monthly payment of $1,000 starting on September 4. The Debtors' authority to use cash collateral will terminate if the court removes them as debtors-in-possession; the Chapter 11 cases are converted to cases under Chapter 7 of the Bankruptcy Code; or the Debtors use cash collateral for purposes not authorized under the interim order. The final hearing is scheduled for September 23, with objections due by September 22. About District 7 Grill Corporation District 7 Grill Corporation owns and operates four restaurants in Houston, Texas, including: two District 7 restaurants located at 501 Pierce St., Houston, Texas 77002 and 1508 Hutchins Street, Houston, Texas 77003; one District 7 Restaurant & Market restaurant located at 610 Main St., Houston, Texas 77002; and one Table 7 Bistro restaurant located at 1085 Rusk St., Ste. C, Houston, TX 77002. District 7 Grill Corporation sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-34547) on August 5, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $100,000 and $500,000. Honorable Bankruptcy Judge Jeffrey P. Norman handles the case. The Debtor is represented by Brandon J. Tittle, Esq. at TITTLE LAW FIRM, PLLC. DISTRICT 7 GRILL: Hires Tittle Law Firm as Legal Counsel -------------------------------------------------------- District 7 Grill Corporation and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Tittle Law Firm, PLLC to serve as lead bankruptcy counsel. Tittle Law Firm will provide these services: (a) provide legal advice with respect to the Debtors' powers and duties as debtors-in-possession in the continued operation of their businesses and the management of their properties; (b) take all necessary action to protect and preserve the Debtors' estate; (c) prepare on behalf of the Debtors necessary motions, answers, orders, reports, and other legal papers in connection with the administration of their estates; (d) assist the Debtors in preparing for and filing a plan of reorganization at the earliest possible date; (e) perform any and all other legal services for the Debtors in connection with the Debtors’ Chapter 11 Cases; and (f) perform such legal services as the Debtors may request with respect to any matter, including, but not limited to, corporate finance and governance, contracts, antitrust, labor, and tax. Tittle Law Firm will charge for time at its normal billing rates for attorneys and legal assistants and will request reimbursement for its out-of-pocket expenses, subject to Bankruptcy Court approval. On or about July 10, 2025, the firm received a $30,000 retainer, and prior to filing, drew down $27,852 for prepetition services. Tittle Law Firm is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Brandon J. Tittle, Esq. TITTLE LAW FIRM, PLLC 5465 Legacy Dr., Ste. 650 Plano, TX 75024 Telephone: (972) 731-2590 E-mail: btittle@tittlelawgroup.com About District 7 Grill Corporation District 7 Grill Corporation owns and operates four restaurants in Houston, Texas, including: two District 7 restaurants located at 501 Pierce St., Houston, Texas 77002 and 1508 Hutchins Street, Houston, Texas 77003; one District 7 Restaurant & Market restaurant located at 610 Main St., Houston, Texas 77002; and one Table 7 Bistro restaurant located at 1085 Rusk St., Ste. C, Houston, TX 77002. The District 7 and Table 7 Bistro restaurants offer an upgraded take on America-style cuisine -- from classic eggs benedict and savory short rib burgers, to artisan pizzeria pizza, fresh mahi mahi salad, and file mignon. The District 7 Restaurant and Market location features a specialty market, deli and convenient grab-and-go options, including rotisserie chicken, deli sandwiches, and Polish dogs. District 7 Grill Corporation sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-34547) on August 5, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $100,000 and $500,000. Honorable Bankruptcy Judge Jeffrey P. Norman handles the case. The Debtor is represented by Brandon J. Tittle, Esq. at TITTLE LAW FIRM, PLLC. E.W. SCRIPPS: Redeems $426M Notes Due 2027, Prepays $205M Term Loan ------------------------------------------------------------------- The E.W. Scripps Company disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company redeemed all $426 million aggregate principal amount of its 5.875% Senior Notes due 2027 then outstanding at a redemption price equal to 100.00% of the principal amount outstanding, plus accrued and unpaid interest to, but excluding, the redemption date. Concurrently, the Company pre-paid $205 million aggregate principal amount of its term loan B-2 facility which matures in 2028 at a price equal to 102.000% of the principal amount outstanding, plus accrued and unpaid interest to, but excluding the prepayment date as well as a portion of its revolving credit facilities. About Scripps The E.W. Scripps Company (NASDAQ: SSP) is a diversified media company focused on creating a better-informed world. As one of the nation's largest local TV broadcasters, Scripps serves communities with quality, objective local journalism and operates a portfolio of more than 60 stations in 40+ markets. Scripps reaches households across the U.S. with national news outlets Scripps News and Court TV and popular entertainment brands ION, ION Plus, ION Mystery, Bounce, Grit and Laff. Scripps is the nation's largest holder of broadcast spectrum. Scripps is the longtime steward of the Scripps National Spelling Bee. Founded in 1878, Scripps' long-time motto is: "Give light and the people will find their own way." As of Dec. 31, 2024, E.W. Scripps Company had $5.2 billion in total assets, $3.9 billion in total liabilities, and $1.3 billion in total stockholders' equity. * * * In July 2025, S&P Global Ratings assigned its 'CCC+' issue-level rating and '3' recovery rating to The E.W. Scripps Co.'s proposed $650 million senior secured second-lien notes due 2030. The '3' recovery rating indicates its expectation for meaningful (50%-70%; rounded estimate: 50%) recovery for lenders in the event of a payment default. E.W. Scripps plans to use the proceeds from these notes to fully repay its 5.875% senior unsecured notes due 2027 ($426 million outstanding) and repay $220 million of its senior secured first-lien term loan B-2 maturing 2028 ($545 million outstanding). Moreover, in August 2025, Fitch Ratings has upgraded The E.W. Scripps Company's Long-Term Issuer Default Rating (IDR) to 'CCC' from 'CCC-'. Fitch has also upgraded Scripps' senior secured debt to 'B' with a Recovery Rating of 'RR1', from 'B-'/'RR1', and senior unsecured debt to 'CC'/'RR6' from 'C'/'RR6'. In addition, Fitch has assigned a 'CCC-'/'RR5' rating to Scripps' new senior secured second-lien debt. Moody's Ratings subsequently assigned a Caa2 rating to The Scripps (E.W.) Company's proposed $650 million senior secured second-lien notes due 2030. In connection with this rating action, Moody's affirmed the Caa1 corporate family rating, B2 ratings on the senior secured debt instruments and Caa3 ratings on the senior unsecured notes. Moody's also upgraded the probability of default rating to Caa1-PD from Caa2-PD and changed the outlook to stable from negative. Scripps' SGL-3 Speculative Grade Liquidity rating remains unchanged. ENDI PLAZA: Seeks Approval to Hire A.Y. Strauss as Legal Counsel ---------------------------------------------------------------- Endi Plaza LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to hire A.Y. Strauss LLC to serve as legal counsel. The firm will provide these services: (a) providing the Debtor with advice and preparing all necessary documents regarding debt restructuring, bankruptcy and asset dispositions (b) taking all necessary actions to protect and preserve the Debtor's estate during the pendency of this Chapter 11 Case (c) preparing on behalf of the Debtor, as debtor-in-possession, all necessary motions, applications, answers, orders, reports and papers in connection with the administration of this Chapter 11 Case (d) counseling the Debtor with regard to its rights and obligations as Debtor-in-possession (e) appearing in Court to protect the interests of the Debtor; and (f) performing all other legal services for the Debtor which may be necessary and proper in these proceedings and in furtherance of the Debtor's operations. The firm's hourly billing rates are: $500 to $650 for partners $475 for counsel $425 to $450 for associates, and $200 for paralegals. The firm agreed to cap its attorney hourly rate at $575 per hour, plus costs and expenses. A.Y. Strauss LLC received a retainer in the amount of $35,000 from an affiliate of the Debtor after the filing of the Chapter 11 case. A.Y. Strauss LLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Eric H. Horn, Esq. David S. Salhanick, Esq. Eva M. Thomas, Esq. A.Y. STRAUSS LLC 290 West Mount Pleasant Avenue, Suite 3260 Livingston, NJ 07039 Telephone: (973) 287-5006 Facsimile: (973) 533-0217 About Endi Plaza LLC Endi Plaza, LLC owns a mixed-use residential apartment and commercial complex located at 2120 London Road, Duluth, Minnesota, known as Endi Apartments containing 142 apartment units and 13,876 square feet of retail space and relating parking. Endi Plaza sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-35613) on June 2, 2025. On June 9, 2025, the case was transferred from the Poughkeepsie Divisional Office to the White Plains Divisional Office and was assigned a new case number (Case No. 25-20002). At the time of the filing, the Debtor reported between $50 million and $100 million in assets and liabilities. Judge Sean H. Lane oversees the case. The Debtor is represented by Goldberg Weprin Finkel Goldstein, LLP. EPRESENCE INC: Shareholders' Responses to Suit Due Sept. 5, 2025 ---------------------------------------------------------------- Keith D. Lowey, as liquidating agent for the ePresecne Inc. Liquidating Trust Agreement u/d/t Dec. 20, 2007 ("plaintiff") has filed a verified complaint for declaratory relief in the Superior Court against the former stockholders of ePresence Inc. ("defendants", "Company"), wherein the plaintiff is seeking alternative service of process by publication in this declaratory judgment action in which the plaintiff demands, inter alia, that the Court make a binding determination as to the person or persons who will be entitle to receive a proportionate share of newly recovered assets of the Company. If you are a former stockholder of the Company, otherwise assert any claim, right or interest in and to the assets of the Company on or before Sept. 5, 2025, or within such further time as the law allows you do cause your written pleading to be filed in the clerk's offices of the Norfolk County Superior Court, 650 High Street, Dedham, Massachusetts 02026, with a copy to David B. Madoff, Esq., Madoff & Khoury LLP, 124 Washington Street, Suite 202, Foxboro, Massachusetts 02035 and further that you defend against said suit according to law if you assert any such claim, right or interest, and that you do and receive what the Court will order and adjudge therein. ePresence, Inc provides security and identity management services. EXELA TECHNOLOGIES: Reports 27M XBP Shares, 6.6M Warrants --------------------------------------------------------- Exela Technologies, Inc., 10% Owner of XBP Global Holdings, Inc., disclosed in a Form 3 filed with the U.S. Securities and Exchange Commission that as of August 6, 2025, it beneficially owns 27,037,562 shares of common stock indirectly through its wholly owned subsidiaries, XCV-STS, LLC and GP 3XCV LLC, as well as warrants to purchase an additional 6,632,418 shares of common stock at an exercise price of $4.98 per share, all received pursuant to restructuring transactions under its amended plan of reorganization. 1. On July 29, 2025, the Reporting Person received, through its wholly owned subsidiaries, XCV-STS, LLC ("XCV-STS") and GP 3XCV LLC ("GP 3XCV"), 27,037,562 shares of common stock, $0.0001 par value (the "Common Stock") XBP Europe Holdings, Inc. (the "Issuer"), pursuant to the closing of certain restructuring transactions in accordance with an amended plan of reorganization effectuated under voluntary cases, filed by certain entities that were direct or indirect subsidiaries of the Reporting Person, under chapter 11 of title 11 of the United States Code, ss.ss. 101-1532, as amended, in the United States Bankruptcy Court for the Southern District of Texas, under Case No 25-90023 [Docket No. 826] (the "Restructuring Transactions"). 2. XCV-STS and GP 3XCV are the record holders of the shares of Common Stock and the Warrant Shares. 3. On July 29, 2025, XCV STS and GP 3XCV each entered into warrant agreements with the Issuer in respect of 6,632,418 shares of Common Stock (the "Warrant Shares") pursuant to the Restructuring Transactions. About Exela Technologies Headquartered in Irving, Texas, Exela Technologies, Inc. -- http://www.exelatech.com/-- is a business process automation (BPA) company, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and end-user experience. Exela Technologies Inc. and several other units sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90024) on March 3, 2025. In its petition, the Debtor reports estimated assets between $500 million and $1 billion and liabilities between $1 billion and $10 billion. Honorable Bankruptcy Judge Christopher M. Lopez handles the case. The Debtor is represented by Timothy Alvin Davidson, II, Esq. at Andrews Kurth LLP. FIRST CLASS: Unsecured Creditors to Split $500K over 5 Years ------------------------------------------------------------ First Class Moving Systems Inc. and affiliates filed with the U.S. Bankruptcy Court for the Middle District of Florida a Disclosure Statement for Joint Plan dated August 11, 2025. The Debtors were founded in 2001, and provide (i) residential moving, packing, and storage services to clients for local, long distance, international, and military moves; (ii) office and industrial moving, packing, and storage services for corporate relocations, healthcare laboratories, warehouse facilities, and decommissioning and liquidation moves; and (iii) logistics management services for moving, warehousing, and distribution of furniture, fixtures, and equipment and operating supplies and equipment in connection with facility openings, expansions, and renovations. The packing, moving, and storage services are provided by First Class Moving Systems, Inc., First Class Moving Systems of North Jersey, Inc., First Class Moving of South Florida, Inc., and First Class Commercial Services of Orlando, Inc. (collectively, the "Moving Debtors") depending upon the location of the client. The residential moving industry has experienced financial distress leading to contraction within the industry. This is attributable largely to global changes post- COVID, including: (i) high interest rates following the post-Covid rush for people to buy larger homes in more desirable locations, (ii) a decrease in corporate moving following mass corporate downsizing of office space due to more of their employees working from home, and (iii) a decrease in Department of Defense spending on relocation. After evaluating alternatives, the Debtors determined that a Chapter 11 filing provided the best forum to maximize the value of their assets and would best serves the interests of their creditors. The Debtors have utilized the Chapter 11 process to sell certain of their assets efficiently and effectively, allowing maximum distributions to their creditors. Class 15 is comprised of all General Unsecured Claims against the Debtors. Each Holder of an Allowed Class 15 Claim against any Debtor shall receive, in full satisfaction of such Creditor's Allowed General Unsecured Claim, such creditor's pro rata share of $500,000.00 over 5 years at the times and in the amounts set forth on the Plan. Class 15 Impaired under the Plan and is entitled to vote to accept or reject the Plan. If the Chapter 11 Plan is confirmed, unsecured creditors will receive their pro rata share of $500,000 over the 5-year plan period at the times and in the amounts set forth on Exhibit A. In a liquidation, there would be no recovery for unsecured creditors. The Plan provides for the reorganization of the Debtors' business and the payment of Allowed Claims, including contingent, unliquidated, and Disputed Claims to the extent they become Allowed Claims, in the order of their priority. The projections demonstrate that the Plan is feasible. A full-text copy of the Disclosure Statement dated August 11, 2025 is available at https://urlcurt.com/u?l=f6ZyR0 from PacerMonitor.com at no charge. Counsel for the Debtors: BERGER SINGERMAN LLP Amy Denton Mayer, Esq. 100 E. Kennedy Boulevard, Suite 1165 Tampa, FL 33602 Telephone: (813) 498-3400 Facsimile: (813) 527-3705 About First Class Moving Systems Inc. First Class Moving Systems Inc. is a professional moving company offering residential and commercial moving services, as well as packing, logistics, and storage solutions. It has locations in Tampa, Miami/Fort Lauderdale; Gulfport, Miss.; Orlando, Fla.; and Bound Brook, N.J. First Class Moving Systems and its affiliates filed Chapter 11 petitions (Bankr. M.D. Fla. Lead Case No. 25-02243) on April 11, 2025. In its petition, First Class Moving Systems reported between $1 million and $10 million in both assets and liabilities. Judge Roberta A. Colton handles the cases. The Debtors are represented by Scott A. Stichter, Esq., and Amy Denton Mayer, Esq., at Stichter, Riedel, Blain & Postler, P.A. Valley National Bank, as lender, is represented by: Andrew W. Lennox, Esq. Casey Reeder Lennox, Esq. Lennox Law, P.A. P.O. Box 20505 Tampa, FL 33622 Tel: 813-831-3800 Fax: 813-749-9456 alennox@lennoxlaw.com clennox@lennoxlaw.com FUTURA ENTERPRISES: Gets Final OK to Use Cash Collateral -------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Texas issued a final order allowing Futura Enterprises Inc. to use cash collateral. The final order authorized the Debtor to use cash collateral to pay operating expenses in accordance with its budget, subject to a 10% variance. The 30-day budget projects total operational expenses of $89,805. As adequate protection for any diminution in the value of its collateral, secured lender BayFirst Bank will be granted replacement liens on the Debtor's equipment, inventory, accounts and other property whether such property was acquired before or after the Debtor's Chapter 11 filing. The replacement liens will have the same validity and priority as the secured lender's pre-bankruptcy liens; are subordinate to the fee carveout; and do not apply to avoidance actions. As additional protection, BayFirst Bank will receive monthly payments totaling $4,500. As of the petition date, the Debtor owed BayFirst $501,853. The lender asserts it is secured by a lien on and security interest in substantially all of the Debtor's equipment, accounts and inventory. About Futura Enterprises Inc. Futura Enterprises Inc., doing business as Futura Building Systems, provides residential and commercial construction services in Texas. It offers roofing, remodeling, gutters, siding, and renovation work, operating from its office in Dallas. Futura Enterprises sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-42551) on July 14, 2025. In its petition, the Debtor reported total assets of $313,607 and total liabilities of $2,583,194. Judge Mark X. Mullin handles the case. Robert T. DeMarco, Esq., at DeMarco Mitchel, PLLC is the Debtor's legal counsel. BayFirst Bank, as secured lender, is represented by: Matthew T. Taplett, Esq. Pope, Hardwicke, Christie, Schell, Kelly & Taplett, L.L.P. 500 W. 7th Street, Suite 600 Fort Worth, TX 76102 Telephone: (817) 332-3245 Facsimile: (817) 877-4781 mtaplett@popehardwicke.com GILBERT LEGGETT: Hires Cumbee & Taylor as Accountant ---------------------------------------------------- Gilbert Leggett Farms, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina to hire Cumbee & Taylor, PA of Williamston, NC to serve as accountant in its Chapter 11 case. Cumbee & Taylor will provide these services: (a) preparation of the Debtor's payroll taxes; (b) preparation of the Debtor's Federal and State tax returns; and (c) any other tax/financial needs. The firm will be paid at these rates: $250 for Delmas B. Cumbee, Jr., CPA; $130 for Hope Domecq; and $80 for Debra Peel Cumbee & Taylor, PA is a "disinterested person" within the meaning of Section 327(a) and Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Cumbee & Taylor, PA Williamston, NC Telephone: (252) 792-6081 About Gilbert Leggett Farms Inc. Gilbert Leggett Farms, Inc. grows and sells sweet potato seed plants, including the Covington variety, and is also involved in cultivating crops such as peanuts, sweet corn, and cotton. Gilbert Leggett Farms sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 25-02668) on July 14, 2025. In its petition, the Debtor reported total assets of $2,329,639 and total liabilities of $2,340,328. Judge Pamela W. Mcafee handles the case. The Debtor is represented by: David J. Haidt, Esq. Ayers & Haidt, P.A. Tel: (252) 638-2955 E-mail: david@ayershaidt.com INSPIREMD INC: Velan Capital Holds 5.1% Equity Stake ---------------------------------------------------- Velan Capital Master Fund LP, Velan Capital Holdings LLC, Velan Capital Investment Management LP, Velan Capital Management LLC, Adam Morgan, and Balaji Venkataraman, disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of July 30, 2025, they beneficially own 2,143,698 shares of common stock, representing 5.1% of the 41,720,662 shares of common stock outstanding of InspireMD, Inc. Velan Capital et al. may be reached through: Adam Morgan, Managing Member 100 North Main Street Suite 301 Alpharetta, Georgia 30009 Tel: 646-844-0037 A full-text copy of Velan Capital Master Fund LP's SEC report is available at: https://tinyurl.com/yk2du43t About InspireMD Headquartered in Tel Aviv, Israel, InspireMD, Inc. -- http://www.inspiremd.com/-- is a medical device company focusing on the development and commercialization of its proprietary MicroNet stent platform technology for the treatment of complex vascular and coronary disease. A stent is an expandable "scaffold-like" device, usually constructed of a metallic material, that is inserted into an artery to expand the inside passage and improve blood flow. Its MicroNet, a micron mesh sleeve, is wrapped over a stent to provide embolic protection in stenting procedures. Tel-Aviv, Israel-based Kesselman & Kesselman, the Company's auditor since 2010, issued a 'going concern' qualification in its report dated March 12, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company has suffered recurring losses from operations and cash outflows from operating activities that raise substantial doubt about its ability to continue as a going concern. As of December 31, 2024, the Company had $46.8 million in total assets, $10.7 million in total liabilities, and $36.1 million in total stockholders' equity. INTEGRITY REAL: Taps Cox Law as General Real Estate Counsel ----------------------------------------------------------- Integrity Real Estate, LLC seeks approval from the U.S. Bankruptcy Court for the District of Colorado to retain Cox Law Firm, LLC, with Damian L. Cox, Esq. as principal, to serve as general real estate counsel in its Chapter 11 case. Mr. Cox will provide these services: (a) advise on compliance with Colorado brokerage and licensing laws; (b) review and prepare real estate contracts and independent contractor agreements; (c) aid in the defense of legal claims related to brokerage activities; (d) update office policy manuals to comply with changes to Colorado law; (e) provide training on legal impacts of the National Association of Realtors settlement related to broker commissions; (f) review and update attorney-drafted forms and clauses for use in Real Estate Commission-approved contracts; (g) provide webinars and legal updates on Division of Real Estate audits and other issues facing brokerage firms; (h) advise on wire fraud, property ownership fraud, financing matters including VA and FHA requirements, owner-carry financing, wrap mortgages, short sales, and subject-to financing; and (i) advise on foreclosure matters. The Cox Firm will be paid a monthly flat fee of $850, subject to annual adjustment based on Debtor's gross commission income. Additional expenses above the monthly fee will not exceed $200, and matters outside the Retainer Agreement will be billed at $400 per hour. Cox Law Firm, LLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Damian L. Cox, Esq. COX LAW FIRM, LLC 718 Wilcox St A Castle Rock, CO 80104 Telephone: (303) 688-1550 About Integrity Real Estate Integrity Real Estate, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case No. 24-16853) on November 15, 2024, listing under $1 million in both assets and liabilities. Judge Thomas B. McNamara handles the case. Allen Vellone Wolf Helfrich & Factor PC serves as the Debtor's counsel. IQSTEL INC: Signs MOU With Cycurion for Stock Exchange, Partnership ------------------------------------------------------------------- iQSTEL Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company entered a non-binding Memorandum of Understanding with Cycurion Inc., a Delaware corporation trading on Nasdaq under the ticker CYCU. The MOU outlines the mutual intention of the parties to explore a potential stock exchange transaction and expand their strategic partnership in AI-powered cybersecurity services and other high-tech initiatives targeting the global telecom industry. IQSTEL stated in a press release that this transaction is designed to unlock shareholder value, while being strategically timed for both companies as the products and services of IQSTEL and Cycurion are largely insulated from potential disruptions caused by changes in U.S. tariffs and their economic consequences. The agreement also strengthens the companies' alliance by integrating complementary market strengths and uniting both organizations' AI-focused Research and Development departments with a shared mission: to deliver next-generation cybersecurity solutions tailored for telecom industry, government institutions, and enterprise clients worldwide. Under the terms of the MOU, subject to satisfactory due diligence, internal approvals, and regulatory compliance, the parties intend to consider a structure whereby each party would issue $1,000,000 worth of its common stock to the other party. The number of shares would be calculated based on the lower of: (i) the Nasdaq Official Closing Price on the trading day immediately preceding the signing of a binding agreement or (ii) the average Nasdaq Official Closing Price over the five trading days immediately preceding such signing. Additionally, subject to board and regulatory approvals, each party intends to distribute up to 50% of the shares received in the exchange to its shareholders as a stock dividend. The parties also plan to continue collaborating on AI-powered cybersecurity services and explore deeper commercial relationships, including joint ventures, shared research and development, and potential structural integrations. The MOU provides for a 60-day exploration period from the effective date, during which the parties will conduct reviews, negotiate in good faith, and assess feasibility for a definitive agreement. This period may be extended by mutual consent. The MOU is non-binding, except for provisions related to confidentiality, its non-binding nature, and governing law (Nevada law), and does not obligate either party to proceed unless a definitive agreement is executed. This transaction is designed to unlock shareholder value by creating a mutual equity structure that both companies view as a "sibling company" relationship, ensuring each directly benefits from the other's success. Importantly, both IQST and CYCU are actively traded stocks with weekly liquidity in the millions of U.S. dollars, which is believed to be highly advantageous for the combined ~30,000 shareholders across both companies. In addition, the stock swap opens the door for powerful cross-selling opportunities: IQSTEL will be able to introduce its Telecom, Fintech, and AI-driven services to Cycurion's established customer base, while Cycurion will gain access to offer its advanced cybersecurity solutions to some of the largest telecom operators in the world through IQSTEL's extensive global network. One Unified AI R&D Mission: Both IQSTEL and Cycurion operate advanced AI research and development teams, each with complementary expertise that makes this collaboration particularly powerful. IQSTEL has been developing proprietary AI services through its in-house IQSTEL Intelligence division (www.realityborder.com), launching two proprietary products: www.Airweb.ai -- a multilingual AI web/phone/messaging agent -- and www.IQ2Call.ai -- an AI-powered call center agent. Most recently, IQSTEL Intelligence was engaged by ONAR to develop a full suite of AI-driven sales support tools designed to streamline and enhance ONAR's daily sales operations. Meanwhile, Cycurion has been working to deliver the next generation of AI-based cybersecurity services, aimed at protecting telecom networks, government infrastructure, and enterprise systems. Following the stock exchange, the companies except to join forces, pool resources, and align strategic focus to: * deliver a proprietary, joint AI-driven cybersecurity solution, integrating IQSTEL's AI innovations with Cycurion's cybersecurity expertise. * enhance Cycurion's internal processes and customer support responsiveness using IQSTEL's advanced AI virtual agents. * accelerate innovation cycles and bring cutting-edge, next-generation cybersecurity products to market faster. With this mutual equity transaction, IQSTEL and Cycurion are set to potentially become a true AI powerhouse -- combining complementary strengths in AI innovation and cybersecurity. The market has yet to fully realize the potential value of this collaboration, which positions both companies to capture significant new opportunities in the rapidly evolving AI-driven cybersecurity landscape. Complementary Market Strengths: The alliance is reinforced by the complementary reach of both companies: * Cycurion has a strong presence in the U.S. market and deep relationships within government and institutional sectors. * IQSTEL has a global footprint in telecommunications, with established commercial relationships spanning more than 600 telecom operators worldwide. Together, the companies expect to cross-sell solutions, penetrate new markets, and open revenue streams that neither could fully capture alone While this stock exchange is a transformative milestone, both companies emphasize that this is just the beginning of their mutual equity partnership. This transaction opens the door to a more intensive relationship in the future. The MOU outlines an initial 60-day exploratory period; however, the companies plan to execute the definitive agreement within the next 30 days -- completing due diligence, securing internal approvals, and advancing toward implementation. In parallel, both parties will work to identify further opportunities for collaboration, potentially including joint ventures, expanded R&D initiatives, and integrated go-to-market strategies designed to accelerate growth and maximize value for their combined shareholder base. The companies will announce the registration date for the planned dividend in a separate joint communication once the definitive agreement is executed. Leandro Iglesias, CEO of IQSTEL, stated: "This mutual equity partnership marks the creation of a powerhouse in AI-driven cybersecurity. By combining our resources, complementary customer bases, and innovation teams, we are setting a new standard for what's possible. The benefits to our combined 30,000 shareholders are immediate -- they will now own part of both companies, and our shared market liquidity makes that ownership all the more valuable." L. Kevin Kelly, CEO of Cycurion, commented: "This is more than a stock swap. It's the start of a long-term equity partnership that we expect will accelerate innovation and growth for both companies. We are confident that our U.S. and government market strength when combined with IQSTEL's global telecom presence is a powerful combination that positions us for significant impact." About iQSTEL iQSTEL Inc. is a multinational technology company that provides services across telecom, fintech, blockchain, artificial intelligence, and cybersecurity. The Company operates in 21 countries and serves a global customer base. It projects $340 million in revenue for fiscal year 2025. In an auditor's report dated March 31, 2025, Urish Popeck & Co., LLC, issued a "going concern" qualification, citing that the Company has suffered recurring losses from operations, negative working capital, and does not have an established source of revenues sufficient to cover its operating costs, which raise substantial doubt about its ability to continue as a going concern. iQSTEL ended the year on Dec. 31, 2024 with a net loss of $5,180,036, significantly widening from the $219,436 loss reported for the year ended Dec. 31, 2023. The net results of the periods reported are highly impacted by the expenses in the holding entity (IQSTEL), which has a high component of interest and other financial expenses related to the funds borrowed for the acquisition of QXTEL Limited. K&D'S SANTA CRUZ: Case Summary & 15 Unsecured Creditors ------------------------------------------------------- Debtor: K&D's Santa Cruz Tire and Auto, Inc d/b/a Santa Cruz Tire and Auto Care f/d/b/a K&D Professional Touch Incorporated 2840 Soquel Ave. Santa Cruz, CA 95062 Business Description: K&D's Santa Cruz Tire and Auto, Inc., doing business as Santa Cruz Tire & Auto Care, provides automotive repair and maintenance services including brakes, engine and suspension repair, wheel alignments, smog checks, and air conditioning service. The Company also sells and installs tires from brands such as Pirelli and Firestone and offers related services such as towing, financing, and a vehicle shuttle program. It operates from its location in Santa Cruz, California, serving customers in the surrounding area. Chapter 11 Petition Date: August 15, 2025 Court: United States Bankruptcy Court Northern District of California Case No.: 25-51258 Judge: Hon. M. Elaine Hammond Debtor's Counsel: Lars Fuller, Esq. THE FULLER LAW FIRM PC 60 N Keeble Avenue San Jose, CA 95126 Tel: (408) 295-5595 E-mail: admin@fullerlawfirm.net Total Assets: $1,754,537 Total Liabilities: $2,350,343 Karl Ryan signed the petition in his capacity as CEO. A full-text copy of the petition, which includes a list of the Debtor's 15 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/7XM465Q/KDs_Santa_Cruz_Tire_and_Auto__canbke-25-51258__0001.0.pdf?mcid=tGE4TAMA KLE EQUIPMENT: Seeks to Extend Plan Exclusivity to November 19 -------------------------------------------------------------- KLE Equipment Leasing LLC and affiliates asked the U.S. Bankruptcy Court for the Eastern District of Wisconsin to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to November 19, 2025 and January 16, 2026, respectively. Since the Petition Date, after obtaining standard first day orders, the Debtors have taken steps to reduce it costs. On June 18, 2025 a motion to sell vehicles free and clear was filed to allow the Debtors to sell trucks and trailers. The Debtors have taken steps to administer the chapter 11 estate. They obtained approval of their retention of an accountant, approval on a final basis of the use of cash collateral, approval of adequate protection to most secured creditors that provide financing for tractors and trailers which are significant assets of the Debtors, which included resolving multiple objections without a hearing, approval of procedures to sell excess equipment. The Debtors' businesses are intertwined, and part of their business was migrated to a different entity before the Petition Date in order for the business operations to survive a chapter 11 filing. The Debtors' attorneys have not been able to analyze the transfers and determine the best proposal for funding a plan, pursuant to which the Debtors intend to pay all creditors in full. The Debtors explain that they are a relatively large size that is a complex financial structure. More time is needed to analyze the best way to structure a reorganization. The Debtors are making good faith progress towards reorganization. The Debtors are paying their bills as they become due. The Debtors claim that they have obtained permission to liquidate equipment not needed for the operation of the business to minimize amount of debt that must be repaid. The extension sought is two months for each of the two periods. This will permit the Debtors to analyze the best way to structure a plan of reorganization in order to start negotiations with creditors. Attorneys for the Debtors: Jerome R. Kerkman, Esq. Nicholas W. Kerkman, Esq. Kerkman & Dunn 839 N. Jefferson St., Suite 400 Milwaukee, WI 53202-3722 Tel: (414) 277-8200 Fax: (414) 277-0100 Email: jkerkman@kerkmandunn.com About KLE Equipment Leasing KLE Equipment Leasing, LLC, is a Wisconsin-based equipment leasing company headquartered in Neenah. KLE Equipment Leasing sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Wis. Case No. 25-22922) on May 21, 2025. In its petition, the Debtor reported between $10 million and $50 million in both assets and liabilities. Judge G. Michael Halfenger handles the case. The Debtor is represented by Nicholas Kerkman, Esq. and Jerome R. Kerkman, Esq., at Kerkman & Dunn. LEFEVER MATTSON: Court OKs Deal to Use Socotra's Cash Collateral ---------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of California approved a stipulation entered into by LeFever Mattson and KS Mattson Partners, LP with secured lender Socotra Capital, Inc. authorizing limited use of cash collateral. The stipulation authorizes the Debtor to use up to $1,692.89 in cash collateral to pay property insurance premiums for six Sonoma County properties. As adequate protection for the Debtor's use of its cash collateral, Socotra Capital will have a valid and perfected replacement lien on (i) the post-petition assets of the Debtor, and (ii) the real property collateral of the lender whose cash is used to fund the payments. About LeFever Mattson LeFever Mattson, a California corporation, manages a large real estate portfolio. Timothy LeFever and Kenneth W. Mattson each owns 50% of the equity in the company. Based in Citrus Heights, Calif., LeFever Mattson manages a portfolio of more than 200 properties, comprised of commercial, residential, office, and mixed-use real estate, as well as vacant land, located throughout Northern California, primarily in Sonoma, Sacramento, and Solano Counties. It generates income from the properties through rents and use the proceeds to fund its operations. LeFever Mattson and its affiliates filed voluntary Chapter 11 petitions (Bankr. N.D. Calif. Lead Case No. 24-10545) on September 12, 2024. At the time of the filing, LeFever Mattson listed $100 million to $500 million in assets and $10 million to $50 million in liabilities. Judge Charles Novack oversees the cases. Thomas B. Rupp, Esq., at Keller Benvenutti Kim LLP represents the Debtors as counsel. Kurtzman Carson Consultants, LLC is the Debtors' claims and noticing agent. The U.S. Trustee for Region 17 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. MEDWELLAI INC: Consolidates Series C and D Preferred Stock ---------------------------------------------------------- MedWellAI, Inc. (formerly Integrated Ventures, Inc.) disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that it entered into a Share Exchange Agreement, pursuant to which, the Company amended and restated the Certificate of Designation for its Series C Preferred Stock, effecting the consolidation of the Series C Preferred Stock and Series D Preferred Stock classes into a single series of preferred stock having such designations, rights and preferences as agreed upon pursuant to the Exchange Agreement. Summary of the terms of the Series C Preferred Stock, as amended: Dividends: Holders of Series C Preferred Stock shall be entitled to receive, and the Company shall pay, dividends on shares of Series C Preferred Stock equal to (on an as-if-converted-to-Common-Stock basis) and in the same form as dividends actually paid on shares of the Company's Common Stock when, as and if such dividends are paid on shares of the Common Stock. Voting Rights: The Series C Preferred Stock will vote together with the Common Stock on an as-converted basis subject to certain beneficial ownership limitations. In addition, for as long as any shares of Series C Preferred Stock are outstanding, the Company shall not, without the affirmative vote of the holders of a majority of the then outstanding shares of the Series C Preferred Stock: (a) amend or alter the rights, powers, or preferences of the Series C Preferred Stock; (b) authorize or issue any class of stock senior to, or otherwise pari passu with, the Series C Preferred Stock; (c) amend the Company's charter documents in a way that adversely affects the Series C Preferred Stock; (d) increase the number of authorized shares of Series C Preferred Stock; or (e) enter into any agreement with respect to any of the foregoing. Liquidation: Upon any Liquidation (as defined in the Certificate of Amendment), holders of Series C Preferred Stock shall be entitled to receive the Stated Value of their shares plus any accrued and unpaid dividends or other applicable fees, before any distribution is made to holders of junior securities. If the Company's assets are insufficient to pay all such amounts in full, they will be distributed pro rata among holders of Series C Preferred Stock based on the amounts otherwise payable. Conversion: Each share of Series C Preferred Stock shall be convertible, at any time and from time to time at the option of the holder thereof, into the number of shares of Common Stock, subject to certain ownership limitations set forth in the Certificate of Amendment. The number of shares of Common Stock issuable upon conversion by dividing the Stated Value of the Series Preferred Stock by the Conversion Price, which equals to the previous Trading Day's closing price of the Common Stock. The Conversion Price is subject to adjustments and restrictions set forth in Section 7 of the Certificate of Amendment. On August 1, 2025, the Company filed a Certificate of Amendment to the Certificate of Designation of Series C Preferred Stock with the Secretary of State of the State of Nevada. The Certificate of Amendment was filed pursuant to the Exchange Agreement, providing for the rights, preferences, and limitations of the Series C Preferred Stock to be amended to reflect the terms of the consolidated class described in the Exchange Agreement. These changes were made without requiring additional consideration from the holders. Pursuant to the Exchange Agreement, the Company and BHP Capital NY, Inc. agreed to effect a consolidation and exchange of securities, whereby the Stockholder agreed to exchange: (i) 3,000 shares of Series D Preferred Stock of the Company and (ii) 1,500 shares of Series C Preferred Stock of the Company for an aggregate of 6,500 shares of newly designated Series C Preferred Stock, subject to terms and conditions set forth in the Exchange Agreement. As part of the Exchange, the Company agreed to retire $2,133,081 in accrued but unpaid dividends due to the Stockholder pursuant to its ownership of the Existing Shares. The Exchange Agreement is available https://tinyurl.com/7n967esu About MedWellAI, Inc. Clearwater, Fla. MedWellAI, Inc. (formerly Integrated Ventures, Inc.) -- https://www.medwell.ai/ -- operates as a diversified holding company. The Company, through its subsidiaries, focuses on Al-driven health care and wellness solutions, as well as develops, acquires, and licenses technology and platforms with an emphasis on telemedicine and wellness services. MedWellAl serves clients in the United States. The Woodlands, TX-based M&K CPAS, PLLC, the Integrated Ventures' auditor since 2018, issued a "going concern" qualification in its report dated Sept. 30, 2024, citing that the Company has incurred recurring losses from operations and had not yet achieved profitable operations as of June 30, 2024 which raises substantial doubt about its ability to continue as a going concern. The Company reported a net loss of $11,524,357 in the year ended June 30, 2024, compared to a net loss of $25,459,967 in the year ended June 30, 2023. NEW AGE: Files Amendment to Disclosure Statement ------------------------------------------------ New Age Leasing LLC submitted an Amended Disclosure Statement describing Amended Plan of Reorganization dated August 11, 2025. Through the Chapter 11 and proposed Plan, the Debtor intends to surrender more equipment which has no value to the Estate, thereby reducing its current financial obligations. The Debtor maintains that with its remaining fleet, the Debtor will be able to restructure and remain profitable. The Debtor's Plan of Reorganization provides for distribution to the holders of allowed claims and interests from cash, cash equivalents and other funds and income derived the continued operations of the Debtor. The Reorganized Debtor shall be co-managed by Volodymyr Lynevych and Alina Mollova. Both Mr. Lynevych and Ms. Mollova's duties include extensive and hands on management of all business affairs and operations of the Debtor. The Reorganized Debtor's post confirmation management shall be compensated, and their respective annual compensation shall not exceed $72,000 until calendar year 2026 (which is their respective current salary). Class 2 consists of General NonPriority Unsecured Claims. The allowed unsecured claims total $12 Million. Class 2 Claims including unsecured deficiency claims shall be paid pro rata distributions of deferred cash payments aggregating $160,000 from (i) the General Unsecured Creditor Fund in the amount of $150,000; and (ii) $10,000 from New Value Contribution, payable in five equal payments of $32,000 with the first installment due 6 months following the Effective Date (or December 30, 2025, whichever sooner) and $32,000 payable annually on December 30, 2026, 2027, 2028 and 2029. Class 2 Claims are impaired. Class 3 consists of Interests of Equity Holders. All equity interests shall be deemed to be terminated and canceled upon the Effective Date. Membership interests in the Reorganized Debtor shall be issued as follows: 50% to Volodymyr Lynevych and 50% to Alina Mollova, as co-Member and Managers of the Reorganized Debtor upon the Effective Date. The co-members shall each contribute new value in the Reorganized Debtor in the amount of $10,000, payable over 5 years at $2,000 per year, which shall be added to the General Unsecured Creditor Fund to be distributed to Class 2 general unsecured claims. Class 3 Claims and Equity interests are impaired under the Plan. The new value contribution is subject to higher and better bids as set forth in Section IV of the Plan. The principals of the Debtor, Mr. Volodymyr Lynevych and Ms. Alina Mollova, are retaining their respective 50% equity interests in the Debtor. They are jointly contributing the sum of $10,000 toward payment of general unsecured claims under the Plan over a period of 5 years (at $2,000 per year); and (3) they are maintaining and not increasing their respective current salaries of $72,00 per year for the next two years. In light of these new value contributions by the principals, the Debtor maintains that the new value of the shares in the Reorganized Debtor are sufficient and equivalent to the value of those shares. Further, the new value contribution is subject to higher and better offers as set forth in Section IV of the Plan. In the event of a Chapter 7 liquidation of the Debtor, there would no funds available to make a distribution to Class 2 Claimants than the proposed distribution of $160,000.00 to general unsecured non-priority claims under the Plan to be paid on a pro rata basis. Except as otherwise provided in the Plan or the Confirmation Order, all cash necessary for the Debtor to make payments pursuant to the Plan to Allowed Administrative Claims, Priority Claims, Priority Tax Claims, Secured Claims and General Unsecured Non- Priority Claims will be from the continued operations of the Debtor in addition to the new equity contribution by the Debtor's principals. A full-text copy of the Amended Disclosure Statement dated August 11, 2025 is available at https://urlcurt.com/u?l=ME2sj0 from PacerMonitor.com at no charge. New Age Leasing, LLC is represented by: Miriam Stein Granek Gutnicki LLP 4711 Golf Road, Suite 200 Skokie, IL 60076 Tel: (847) 745-6592 Email: mgranek@gutnicki.com About New Age Leasing New Age Leasing, LLC was established in 2020 as an asset holding company to provide equipment to the operating companies, VL Trucking, Inc. and Ace Transportation. The Debtor sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 24-18710) on December 16, 2024, listing under $1 million in both assets and liabilities. Honorable Bankruptcy Judge Deborah L. Thorne handles the case. The Law Offices of David Freydin PC serves as the Debtor's counsel. NEW EARTH: Gets Interim OK to Use Cash Collateral Until Sept. 3 --------------------------------------------------------------- New Earth Yoga, LLC received second interim approval from the U.S. Bankruptcy Court for the Middle District of Florida, Orlando Division, to use cash collateral through September 3. The second interim order signed by Judge Lori Vaughan authorized the Debtor to use cash collateral to pay the amounts expressly authorized by the court, including monthly payments to the Subchapter V trustee; the expenses set forth in the budget, plus an amount not to exceed 10% for each line item; and additional amounts subject to approval by secured creditor, Five Star Bank. As adequate protection for the Debtor's use of its cash collateral, Five Star Bank will be granted a perfected post-petition lien on the cash collateral, with the same validity, priority and extent as its pre-bankruptcy lien. Five Star Bank is the only known secured creditor, asserting a lien on all of the Debtor's assets, including accounts and equipment, based on a UCC Financing Statement filed in Florida on March 19, 2024. However, the Debtor argued that Five Star Bank's lien on deposit accounts is likely unperfected due to the absence of a deposit control agreement, making the lien potentially unenforceable. The next hearing is scheduled for September 3. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/pUmJ0 from PacerMonitor.com. About New Earth Yoga LLC New Earth Yoga, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-03782) on June 18, 2025, listing up to $50,000 in assets and up to $1 million in liabilities. Andrew Layden as Subchapter V trustee. Judge Lori V. Vaughan oversees the case. L. Todd Budgen, Esq., at Budgen Law, is the Debtor's bankruptcy counsel. Five Star Bank, as secured creditor, is represented by: George L. Zinkler, III, Esq. Lorium Law 101 Northeast Third Avenue, Suite 1800 Fort Lauderdale, FL 33301 Telephone: (954) 462-8000 Facsimile: (954) 462-4300 gzinkler@loriumlaw.com NORDICUS PARTNERS: Expands Board With Three New Directors --------------------------------------------------------- Nordicus Partners Corporation disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that effective August 7, 2025: (1) Henrik Keller resigned from the Board of Directors to pursue other interests; (2) the Board voted to increase the size of the Board from three to five members; and (3) the Board appointed Torben S. Jensen, Kim T. Mucke and Andrew J. Ritter to fill the resulting vacancies. Peter Severin will continue as Chairman of the Board and Bennett J. Yankowitz will continue as a Board member as well as chief financial officer of the Company. "We thank Henrik Keller for his service to our company," said Henrik Rouf, CEO of Nordicus in a press release, "and welcome our three new board members. Mr. Jensen is already a major shareholder and will continue to provide valuable assistance in funding Nordicus and its subsidiaries. Mr. Mucke brings us many years of experience in the accounting industry and will play a key role as chairman of our Board's Audit Committee. Mr. Ritter is an experienced CEO of public companies in the pharma space and will be invaluable in assisting us in both corporate finance and establishing strategic relationships with potential acquirers of our products. All three will be invaluable to Nordicus as we pursue our mission to acquire majority stakes in Nordic- as well as U.S.-based life sciences companies." About Torben Jensen: Torben Jensen (60) has more than 35 years of experience in finance and has during the years developed and funded projects and companies in real estate, energy, venture, life science and medico. He has previously been CEO and Chairman of the Board of two listed companies on Nasdaq. From 2019 to 2024 he was a Senior Partner in GK Partners ApS, a corporate finance house and a major shareholder in the Company, where he was the head of funding for projects. Furthermore, he has served as the Chief Executive Officer of AC Nordic since December 2024, also a major shareholder in the Company. About Kim T. Mucke: Kim T. Mucke is a Danish state authorized public accountant (authorization deposited in 2025). He was partner with Deloitte (Denmark) from 2002 to 2022 where he, among others, served as signing partner for various listed companies including companies that underwent IPO processes. In the years 2023-2024, Mr. Mucke was Head of Corporate Clients for BDO (Denmark). From January 1, 2025, Mr. Mucke has started as independent advisor, specialized in financial reporting, risk management and corporate governance. Mr. Mucke has a master's degree in Auditing and Accounting from the Copenhagen Business School. About Andrew J. Ritter: Andrew J. Ritter has served as the Chief Executive Officer and a director of Cairns Health, an innovator in AI-powered remote care solutions supporting home and senior care, since September 2023. Previously, Mr. Ritter was the Chief Executive Officer of Docbot, an AI-driven MedTech company, from January 2021 to December 2022. He also founded and served as Chief Executive Officer of Ritter Pharmaceuticals, a biotechnology company focusing on gastrointestinal diseases, from March 2004 to May 2020. In addition, he served as a founding director of Myosin Therapeutics, a biotech spin-out from Scripps Research, from October 2021 to January 2025. Mr. Ritter earned a B.A. in political science at the University of Southern California and a Master of Business Administration at the Wharton School, University of Pennsylvania. Following the appointments, the Company executed a Directors Agreement with each of Messrs. Jensen, Mucke and Ritter. Under the Director's Agreements, each will receive an annual cash retainer of $10,000, payable in two installments per calendar year, in accordance with the Company's standard compensation plan for Board members. Messrs. Jensen and Mucke will also each receive options to purchase 25,000 shares of the Company's common stock at $1.90 per share, and Mr. Ritter will receive options to purchase 50.000 shares of the Company's common stock at $1.90 per share. All such options will be fully vested on the date of grant and be issued as Incentive Stock Options under and be subject to the terms and conditions of, the Company's 2024 Stock Incentive Plan. About Nordicus Partners Headquartered in Beverly Hills, Calif., Nordicus Partners Corporation is a financial consulting company specializing in providing Nordic companies with the best possible conditions to establish themselves in the U.S. market. The Company leverages management's combined 90+ years of experience in the corporate sector, serving in various capacities both domestically and globally. Additionally, Nordicus operates as a business incubator, offering support resources and services such as office space, legal and accounting services, and marketing expertise to facilitate a smooth transition for companies entering the U.S. marketplace. Spokane, Washington-based Fruci & Associates II, PLLC, the Company's auditor since 2023, issued a "going concern" qualification in its report dated July 29, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2025, citing that the Company has nominal revenue and has incurred losses since inception resulting in an accumulated deficit. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company's recent acquisitions, its generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next 12 months with existing cash on hand and the private placement of Common Stock. As of March 31, 2025, the Company has $70.2 million in total assets, $10.4 million in total liabilities, and $59.9 million in total stockholders' equity. ORIGINCLEAR INC: Posts $8 Million Q2 Loss on Sliding Revenue ------------------------------------------------------------ OriginClear, Inc., filed with the Securities and Exchange Commission its Quarterly Report on Form 10-Q reporting a net loss of $8.03 million on $941,800 of revenue for the quarter ended June 30, 2025, reversing a net income of $2.82 million on $1.05 million a year earlier, as lower gross profit and swings in other income, including reduced derivative gains and the absence of one-time favorable items, weighed on results. Net loss for the six months ended June 30, 2025, narrowed to $8.28 million from $13.55 million a year earlier, supported by lower operating expenses and favorable adjustments to derivative liabilities, while revenue increased 18% to $2.35 million on higher sales volumes in select product lines. As of June 30, 2025, the Company had $3.15 million in total assets, $24.47 million in total liabilities, $7.48 million in mezzanine equity and a total stockholders' deficit of $28.8 million. The Company said its financial statements are prepared assuming ongoing operations, but significant working capital and shareholders' deficits raise substantial doubt about its ability to continue. The Company said it is seeking financing through convertible notes and preferred stock offerings, leveraging its backlog and receivables, but availability and terms are uncertain and may involve covenants or shareholder dilution. The complete text of the Form 10-Q is available for free at: https://www.sec.gov/Archives/edgar/data/1419793/000121390025077581/ea0252525-10q_origin.htm About OriginClear OriginClear, founded in 2007 as OriginOil and rebranded in 2015, operates as the Clean Water Innovation Hub, focusing on incubating and launching businesses in the industrial water sector. The Company's subsidiary, Water On Demand, Inc., includes three operating units: Progressive Water Treatment, which provides engineered water treatment solutions and generates the majority of revenue; Modular Water Systems, which holds an exclusive master license with three active patents valued between $26.6 million and $53.2 million as of April 2023; and Water on Demand, a development-stage unit aiming to offer water treatment as a pay-per-gallon service under a Design-Build-Own-Operate model. The Company leverages its intellectual property and proprietary practices to differentiate its offerings in the global water industry. In its audit report dated March 31, 2025, M&K CPAS, PLLC issued a "going concern" qualification citing that the Company suffered a net loss from operations and used cash in operations, which raises substantial doubt about its ability to continue as a going concern. As of Dec. 31, 2024, and 2023, the Company had a working capital deficit of $(45,437,508) and $(32,249,892), respectively, and a shareholders' deficit of $(54,857,588) and $(39,263,958), respectively. OriginClear posted a net loss of $18.97 million in 2024 compared to a net loss of $11.63 million in 2023. PAWLUS DENTAL: Seeks to Extend Plan Filing Deadline to August 26 ---------------------------------------------------------------- Pawlus Dental, Inc., asked the U.S. Bankruptcy Court for the Southern District of Indiana to extend its period to file a Subchapter V Small Business Plan to August 26, 2025. The Debtor has moved to employ an accountant to assist it with organizing its books and records. The accountant has made significant progress in that regard, but more time is needed for the accountant to help prepare plan projections and a liquidation analysis that will be filed with the Plan. The Debtor explains that the interests of all parties are best served by allowing Pawlus an extension of time so as to be able to submit a feasible plan of reorganization. The Debtor believes that it needs an additional fourteen days, or to and including August 26, 2025, to make the necessary changes to its business operations to submit a Plan. The Debtor asserts that the extension to file a plan is necessary due to circumstances not attributable to Pawlus. This motion is not being made for the purpose of delay and is being submitted in good faith. Pawlus Dental Inc. is represented by: Jeffrey M. Hester, Esq. Hester Baker Krebs LLC Suite 1330 One Indiana Square Indianapolis, IN 46204 Telephone: (317) 608-1129 Facsimile: (317) 833-3031 Email: jhester@hbkfirm.com About Pawlus Dental Pawlus Dental, Inc., provides comprehensive dental services in Columbus, Ind., focusing on preserving natural teeth and enhancing smile aesthetics. The practice offers treatments including dental implants, sleep apnea management, clear aligners, periodontal and cosmetic care, preventive and restorative dentistry, wisdom teeth extraction, root canal therapy, and sedation dentistry. Pawlus Dental sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Case No. 25-02780) on May 14, 2025, listing $890,156 in total assets and $1,119,328 in total liabilities. John G. Pawlus, president and owner of Pawlus Dental, signed the petition. Judge James M. Carr oversees the case. John Allman, at Hester Baker Krebs, LLC, is the Debtor's bankruptcy counsel. German American Bank, as lender, is represented by: Bruce A. Smith, Esq. Rhonda S. Miller, Esq. Smith & Miller, LLP P.O. Box 387 Bargersville, IN 46106 Phone: (812) 802-0222 E-mail: bsmith@smithmillerlaw.com rmiller@smithmillerlaw.com PEARL RESOURCES: Taps Beck Redden/Walker & Patterson as Counsels ---------------------------------------------------------------- Pearl Resources LLC and Pearl Resources Operating Co. LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Walker & Patterson, P.C. and Beck Redden LLP who as trial counsel. The counsels will assist the Debtor in pursuing claims and causes of action in the adversary. The attorneys agree to identify, investigate, evaluate and pursue collection of the pending claims as well as any additional claims or causes of action that may exist. As disclosed in the court filings, both Beck Redden and Walker & Patterson constitute disinterested parties in this litigation. The attorneys can be reached through: Johnie Patterson, Esq. Walker & Patterson, P.C. P.O. Box 61301 4815 Dacoma Houston, TX 77208 Tel: (713) 956-5577 Email: jjp@walkerandpatterson.com - and - Alex B. Roberts, Esq. Beck Redden LLP 1221 McKinney, Suite 4500 Houston, TX 77010 Tel: (713) 951-3700 About Pearl Resources Pearl Resources, LLC is a privately held company in the oil and gas extraction industry. Pearl Resources and Pearl Resources Operating Co., LLC filed their voluntary petitions under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 20-31585) on March 3, 2020. The petitions were signed by Myra Dria, manager and sole member of Pearl Resources Operating and manager of Pearl Resources. At the time of the filing, each Debtor disclosed assets of between $10 million and $50 million and liabilities of the same range. Debtors tapped Walter J. Cicack, Esq., at Hawash Cicack & Gaston, LLP, as legal counsel and David G. Gullickson as accountant. POOLE FUNERAL: Court Extends Cash Collateral Access to Sept. 18 --------------------------------------------------------------- Poole Funeral Home Real Estate, LLC and affiliates received second interim approval from the U.S. Bankruptcy Court for the Eastern District of Tennessee, Chattanooga Division, to use cash collateral. The court's order authorized the Debtors' interim use of cash collateral until September 18 to pay the expenses set forth in their budget, with a 10% variance allowed. The Debtor projects total operational expenses of $136,539.00. As protection, The Bancorp Bank, N.A. will be granted a post-petition lien on the cash collateral and all other post-petition assets of the Debtors to the same extent and with the same validity and priority as their pre-bankruptcy liens. In addition, Bancorp Bank will receive payments of $65,000 this month and on September 2. A final hearing is set for September 18. The Debtors, owners of the Poole funeral home brand, filed for Chapter 11 on May 12 in response to financial distress caused by fraud and deceptive business practices during a failed sale process. They aim to stabilize operations and pursue a restructuring that preserves the business and maximizes value. Bancorp Bank holds a security interest in all of the Debtors' cash collateral, and the Debtors currently have at least $15 million in assets. About Poole Funeral Home Real Estate Poole Funeral Home Real Estate, LLC operates Poole Funeral Homes at Woodstock, a locally owned funeral facility in North Georgia. The Company offers burial, cremation, veteran, green burial, and personalization services, along with caskets and urns. It emphasizes community-focused service, positioning itself as an alternative to corporately owned funeral providers. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tenn. Case No. 25-11197) on May 12, 2025. In the petition signed by Brian K. Poole, CEO, the Debtor disclosed up to $10 million in assets and up to $50 million in liabilities. Judge Nicholas W. Whittenburg oversees the case. Roy Michael Roman, Esq., at RMR Legal PLLC, represents the Debtor as bankruptcy counsel. POWER SOLUTIONS: Gary Winemaster Holds 8.4% Equity Stake -------------------------------------------------------- Gary S. Winemaster, disclosed in a Schedule 13D (Amendment No. 21) filed with the U.S. Securities and Exchange Commission that as of August 5, 2025, he may be deemed to beneficially own 1,930,663 shares of Common Stock, representing 8.4% of the Common Stock outstanding based upon 23,008,511 shares of Power Solutions International, Inc.'s Common Stock outstanding as of May 30, 2025, as disclosed in the Company's Proxy Statement on Form DEF 14-A filed with the SEC on June 13, 2025. Mr. Winemaster may be reached through: Gary S. Winemaster 19197 W Forest Lane, Mundelein, IL, 60060-3493 Tel: (630) 350-9400 A full-text copy of Mr. Winemaster's SEC report is available at: https://tinyurl.com/4mjbm7hy About Power Solutions Wood Dale, Ill.-based Power Solutions International, Inc., incorporated under the laws of the state of Delaware in 2011, designs, engineers, manufactures, markets and sells a broad range of advanced, emission-certified engines and power systems that are powered by a wide variety of clean, alternative fuels, including natural gas, propane, and biofuels, as well as gasoline and diesel options, within the power systems, industrial and transportation end markets. The Company manages the business as a single reportable segment. Chicago, Ill.-based BDO USA P.C., the Company's auditor since 2018, issued a "going concern" qualification in its report dated March 24, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, citing that the Company will not have sufficient cash and cash equivalents to repay amounts owed under its existing debt arrangements as they become due in 2025 without additional financing and uncertainties exist about the Company's ability to refinance, amend or extend these debt arrangements. These conditions raise substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2024, Power Solutions International had $328.2 million in total assets, $262.9 million in total liabilities, and $65.3 million in total shareholders' equity. RENOVARO INC: Gets Nasdaq Extension to Hold Annual Meeting ---------------------------------------------------------- Renovaro Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that it received a notice from The Nasdaq Stock Market LLC indicating that the Company was not in compliance with Nasdaq Listing Rule 5620(a), which requires listed companies to hold an annual meeting of shareholders within 12 months of the end of their fiscal year. On August 5, 2025, the Company received written confirmation from Nasdaq that it has accepted the Company's plan to regain compliance and has granted an extension until October 31, 2025, for the Company to hold its annual meeting of shareholders. The Company intends to hold the annual meeting within the extension period to regain compliance with the Rule. About Renovaro Inc. Headquartered in Los Angeles, Calif., Renovaro Inc. -- http://www.renovarobio.com-- formerly Renovaro BioSciences Inc., is a biotechnology company intending, if the necessary funding is obtained, to develop advanced allogeneic cell and gene therapies to promote stronger immune system responses potentially for long-term or life-long cancer remission in some of the deadliest cancers, and potentially to treat or cure serious infectious diseases such as Human Immunodeficiency Virus (HIV) infections. As a result of the Company's acquisition of GEDi Cube Intl on Feb. 13, 2024, the Company has shifted the Company's primary focus and resources to the development of the GEDi Cube Intl technologies. Draper, Utah-based Sadler, Gibb & Associates, LLC, the Company's auditor since 2018, issued a "going concern" qualification in its report dated Oct. 10, 2024, citing that the Company has incurred substantial recurring losses from operations, has used cash in the Company's continuing operations, and is dependent on additional financing to fund operations which raises substantial doubt about its ability to continue as a going concern. As of December 31, 2024, Renovaro had $111,340,272 in total assets, $29,280,954 in total liabilities, and total stockholders' equity of $82,059,318. SHARPLINK GAMING: Registers 8M Shares Under 2023 Incentive Plan --------------------------------------------------------------- SharpLink Gaming, Inc. filed a registration statement on Form S-8 with the U.S. Securities and Exchange Commission for the purpose of registering an additional 8,000,000 shares of the Company's common stock, par value $0.0001, that are issuable at any time or from time to time under the SharpLink Gaming, Inc. 2023 Equity Incentive Plan (as amended to date, the "Incentive Plan"). The Additional Plan Shares are authorized for issuance under the Incentive Plan pursuant to an amendment and restatement to the Incentive Plan which was approved by the Company's stockholders at a special meeting of stockholders held on July 24, 2025. The Company previously filed a Registration Statement on Form S-8 (File No. 333-277612) with the U.S. Securities and Exchange Commission (the "SEC") to register 34,166 shares of Common Stock for issuance pursuant to the Incentive Plan (as adjusted for the 1-for-12 reverse stock split effective May 5, 2025). Upon the effectiveness of this Registration Statement, an aggregate of 8,034,166 shares of Common Stock will be registered for issuance from time to time under the Incentive Plan. The contents of the registration statement on Form S-8 (File No. 333-277612) filed with the SEC on March 4, 2024 is hereby incorporated by reference, except to the extent supplemented, amended, or superseded by the information set forth herein. SharpLink Gaming may be reached through: Attn: Rob Phythian SharpLink Gaming, Inc. 333 Washington Avenue North, Suite 104 Minneapolis, Minnesota 55401 Tel: (612) 293-0619 A full-text copy of the Registration Statement is available at https://tinyurl.com/dftjx7r3 About SharpLink Gaming SharpLink Gaming, Inc., operates as a marketing partner to sportsbooks and online casino gaming operators globally. SharpLink Gaming operates as a marketing partner to sportsbooks and online casino gaming operators globally. Based in Minneapolis, Minnesota, the Company operates PAS.net, an affiliate marketing network that facilitates player acquisition and engagement for regulated iGaming operators. It also manages a portfolio of state-specific affiliate websites targeting local sports betting and online casino audiences. It also manages a portfolio of state-specific affiliate websites targeting local sports betting and online casino audiences. Cherry Bekaert LLP, the Company's auditor since 2022, included a "going concern" qualification in its audit report dated March 14, 2025, for the fiscal year ended December 31, 2024. The firm cited recurring losses and negative operating cash flows as factors that raise substantial doubt about the Company's ability to continue operating. The Company has a track record of net losses and noted that it may be unable to achieve or sustain profitability going forward. The Company experienced net income of $10,099,619 for the year ending Dec. 31, 2024, compared to a net loss of $14,243,182 for the years ended Dec. 31, 2023. As of Dec. 31, 2024, the Company had an accumulated deficit of $(77,808,959). SILVERROCK DEVELOPMENT: Akerman Represents Trust & Cypress Point ---------------------------------------------------------------- The law firm of Akerman 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 SilverRock Development Company, and affiliates, the firm represents: 1. The Edward J. Himmelberg Trust (the "Trust"), with an address of 100 Harbor Drive Suite 4102, San Diego, CA 92101; and 2. Cypress Point Holdings, LLC ("Cypress" and, together with the Trust, the "Clients"), with an address of PO Box 929100, San Diego, CA 92192. The claims and rights of the Trust arise by virtue of their contractual, statutory, and/or common law rights with respect to the Debtors, and/or by operation of law. The Trust is a creditor of the Debtors pursuant to (i) a $1,000,000 Convertible Note dated as of November 5, 2018; (ii) a Subscription Agreement dated as of March 1, 2021, whereby the Trust purchased membership interests in the Debtors for $7,000,000; and (iii) a letter agreement dated as of October 1, 2021. The claims and rights of Cypress arise by virtue of their contractual, statutory, and/or common law rights with respect to the Debtors, and/or by operation of law. Cypress is a creditor of Debtor SilverRock Development Company, LLC and SilverRock Phase I, LLC pursuant to that certain Amended and Restated Secured Installment Promissory Note dated as of November 28, 2022, secured by a lien on and security interest in certain collateral as well as that certain Second Deed of Trust and Fixture Filing with Assignment of Rents dated as of November 18, 2022. Each Client separately requested that Akerman serve as its counsel in connection with these chapter 11 cases. Each Client is aware of, and has not objected to, Akerman's simultaneous representation of the other Client in this proceeding. Akerman holds no claims against or interests in the Debtors. The law firm can be reached at: AKERMAN LLP Brian R. Lemon, Esq. 222 Delaware Avenue Suite 1710 Wilmington, DE 19801 Telephone: 302-596-9200 Facsimile: 302-596-9300 Primary: brian.lemon@akerman.com -and- D. Brett Marks, Esq. The Main Las Olas 201 East Las Olas Boulevard, Suite 1800 Fort Lauderdale, Florida 33301 Telephone: 954-463-2700 Facsimile: 954-463-2224 About SilverRock Development Company SilverRock Development Company, LLC, is a San Diego, Calif.-based company primarily engaged in renting and leasing real estate properties. SilverRock filed Chapter 11 petition (Bankr. D. Del. Lead Case No. 24-11647) on Aug. 5, 2024, with $100 million to $500 million in both assets and liabilities. Robert S. Green, Jr., chief executive officer, signed the petition. Judge Mary F. Walrath handles the case. The Debtor is represented by Jonathan M. Stemerman, Esq., at Armstrong Teasdale. SMITH MICRO: Registers 1.6M Shares for Possible Resale ------------------------------------------------------ Smith Micro Software, Inc. filed a Registration Statement on Form S-1 Prospectus with the U.S. Securities and Exchange Commission relating to the resale or other disposition from time to time by the selling stockholders -- Iroquois Master Fund Ltd., Iroquois Capital Investment Group LLC, and Newtown Road 130 Holdings LLC -- or their pledgees, assignees, distributes and successors-in-interest from time to time, of up to 1,612,903 shares of the Company's common stock, par value $0.001 per share issuable upon the exercise of certain warrants held by the Selling Stockholders (including shares that may be issued to the holder in lieu of fractional shares). Smith Micro stated in the prospectus: "We are registering the offer and sale of common stock on behalf of the Selling Stockholders to satisfy certain registration rights that we have granted to the Selling Stockholders." "Each Selling Stockholder may, from time to time, sell, transfer, or otherwise dispose of any or all the common stock on any stock exchange, market, or trading facility on which shares of our common stock are traded or in private transactions. These dispositions may be at fixed prices, at prevailing market prices at the time of sale, at prices related to the prevailing market price, at varying prices determined at the time of sale, or at negotiated prices." "The Selling Stockholders will bear all commissions and discounts, if any, attributable to the sales of common stock. We will bear all other costs, expenses, and fees in connection with the registration of the common stock." "We are not offering any shares of our common stock for sale under this prospectus. We will not receive any of the proceeds from the sale or other disposition of our common stock by the Selling Stockholders. However, we may receive proceeds of up to approximately $1.93 million if all the Warrants held by the Selling Stockholders are exercised for cash, based on the current per share exercise price of the Warrants." "Our common stock is listed on the Nasdaq Capital Market under the symbol "SMSI." On August 6, 2025, the last reported sale price of our common stock on the Nasdaq Capital Market was $0.7689." Smith Micro may be reached through: William W. Smith, Jr. Chief Executive Officer Smith Micro Software, Inc. 120 Vantis Drive, Suite 350 Aliso Viejo, CA 92656 Tel: (949) 362-5800 A full-text copy of the Registration Statement is available at https://tinyurl.com/3mt332mn About Smith Micro Software Pittsburgh, Pa.-based Smith Micro Software, Inc. develops software to simplify and enhance the mobile experience, providing solutions to some of the leading wireless and cable service providers around the world. From enabling the family digital lifestyle to providing powerful voice messaging capabilities, the Company's solutions enrich today's connected lifestyles while creating new opportunities to engage consumers via smartphones and consumer IoT devices. The Smith Micro portfolio also includes a wide range of products for creating, sharing, and monetizing rich content, such as visual voice messaging, optimizing retail content display and performing analytics on any product set. As of Dec. 31, 2024, the Company had $48.05 million in total assets, $5.65 million in total current liabilities, $1.64 million in total non-current liabilities, and $40.76 million in total stockholders' equity. Los Angeles, California-based SingerLewak LLP, the Company's auditor since 2005, issued a "going concern" qualification in its report dated March 12, 2025, citing that the Company has suffered recurring losses from operations and has projected future cash flow requirements to meet continuing operations in excess of current available cash. This raises substantial doubt about the Company's ability to continue as a going concern. SMITH MICRO: Registers 250K Shares for Employee Stock Purchase Plan ------------------------------------------------------------------- Smith Micro Software, Inc. filed a registration statement on Form S-8 with the U.S. Securities and Exchange Commission for the purpose of registering an additional 250,000 shares of the Company's common stock, par value $0.001 per share for issuance under the Smith Micro Software, Inc. Amended and Restated Employee Stock Purchase Plan. The increase in the number of shares authorized for issuance under the Plan was approved by the Company's stockholders at its annual meeting held on June 3, 2025. The 250,000 shares of Common Stock being registered pursuant to this Registration Statement are in addition to the 31,250 shares of Common Stock (after adjusting for the reverse stock splits effective as of August 17, 2016 and April 10, 2024) currently registered on our registration statement on Form S-8 filed on September 30, 2010, registration number 333-169671 (the "Prior Registration Statement"). This Registration Statement relates to the same class of securities to which the Prior Registration Statement relates and is submitted pursuant to General Instruction E to Form S-8. Pursuant to General Instruction E, this Registration Statement incorporates by reference the contents of the Prior Registration Statements. Smith Micro may be reached through: William W. Smith, Jr. Chief Executive Officer Smith Micro Software, Inc. 120 Vantis Drive, Suite 350 Aliso Viejo, CA 92656 Tel: (949) 362-5800 A full-text copy of the Registration Statement is available at https://tinyurl.com/4az2uzbf About Smith Micro Software Pittsburgh, Pa.-based Smith Micro Software, Inc. develops software to simplify and enhance the mobile experience, providing solutions to some of the leading wireless and cable service providers around the world. From enabling the family digital lifestyle to providing powerful voice messaging capabilities, the Company's solutions enrich today's connected lifestyles while creating new opportunities to engage consumers via smartphones and consumer IoT devices. The Smith Micro portfolio also includes a wide range of products for creating, sharing, and monetizing rich content, such as visual voice messaging, optimizing retail content display and performing analytics on any product set. As of Dec. 31, 2024, the Company had $48.05 million in total assets, $5.65 million in total current liabilities, $1.64 million in total non-current liabilities, and $40.76 million in total stockholders' equity. Los Angeles, California-based SingerLewak LLP, the Company's auditor since 2005, issued a "going concern" qualification in its report dated March 12, 2025, citing that the Company has suffered recurring losses from operations and has projected future cash flow requirements to meet continuing operations in excess of current available cash. This raises substantial doubt about the Company's ability to continue as a going concern. SMITH MICRO: Registers 3M Additional Shares for Incentive Plan -------------------------------------------------------------- Smith Micro Software, Inc. filed a registration statement on Form S-8 with the U.S. Securities and Exchange Commission for the purpose of registering an additional 3,000,000 shares of the Company's common stock, par value $0.001 per share for issuance under the Smith Micro Software, Inc. Amended and Restated Omnibus Equity Incentive Plan (formerly known as the 2015 Omnibus Equity Incentive Plan). The increase in the number of shares authorized for issuance under the Plan was approved by the Company's stockholders at its annual meeting held on June 3, 2025. The 3,000,000 shares of Common Stock being registered pursuant to this Registration Statement are in addition to the following (as to each, after adjusting for the reverse stock splits effective as of August 17, 2016 and April 10, 2024): (i) the 265,625 shares of Common Stock currently registered on our registration statement on Form S-8 filed on July 29, 2015, registration number 333-205924, (ii) the 312,500 shares of Common Stock currently registered on our registration statement on Form S-8 filed on August 17, 2018, registration number 333-226914, (iii) the 625,000 shares of Common Stock currently registered on our registration statement on Form S-8 filed on August 26, 2020, registration number 333-248422, (iv) the 375,000 shares of Common Stock currently registered on our registration statement on Form S-8 filed on August 10, 2023, registration number 333-273877, and (v) the 3,000,000 shares of Common Stock registered on our registration statement on Form S-8 filed on June 27, 2024, registration number 333-280543 (collectively, the "Prior Registration Statements"). This Registration Statement relates to the same class of securities to which the Prior Registration Statements relate and is submitted pursuant to General Instruction E to Form S-8. Pursuant to General Instruction E, this Registration Statement incorporates by reference the contents of the Prior Registration Statements. Smith Micro may be reached through: William W. Smith, Jr. Chief Executive Officer Smith Micro Software, Inc. 120 Vantis Drive, Suite 350 Aliso Viejo, CA 92656 Tel: (949) 362-5800 A full-text copy of the Registration Statement is available at: https://tinyurl.com/33na9a34 About Smith Micro Software Pittsburgh, Pa.-based Smith Micro Software, Inc. develops software to simplify and enhance the mobile experience, providing solutions to some of the leading wireless and cable service providers around the world. From enabling the family digital lifestyle to providing powerful voice messaging capabilities, the Company's solutions enrich today's connected lifestyles while creating new opportunities to engage consumers via smartphones and consumer IoT devices. The Smith Micro portfolio also includes a wide range of products for creating, sharing, and monetizing rich content, such as visual voice messaging, optimizing retail content display and performing analytics on any product set. As of Dec. 31, 2024, the Company had $48.05 million in total assets, $5.65 million in total current liabilities, $1.64 million in total non-current liabilities, and $40.76 million in total stockholders' equity. Los Angeles, California-based SingerLewak LLP, the Company's auditor since 2005, issued a "going concern" qualification in its report dated March 12, 2025, citing that the Company has suffered recurring losses from operations and has projected future cash flow requirements to meet continuing operations in excess of current available cash. This raises substantial doubt about the Company's ability to continue as a going concern. SOLIGENIX INC: Falls Short of Nasdaq Equity Rule as of June 30 -------------------------------------------------------------- Soligenix, Inc. said in a Form 8-K filing with the Securities and Exchange Commission that The Nasdaq Stock Market LLC has informed the Company that it does not meet the minimum $2.5 million stockholders' equity requirement for continued listing on the Nasdaq Capital Market. The Company reported $1.83 million in stockholders' equity for the quarter ended June 30, 2025. This amount does not reflect sales activity under the Company's At-The-Market facility on July 1, 2025, which generated total gross proceeds of approximately $1,439,300. The Company, as of Aug. 15, 2025, fails to meet Nasdaq's continued listing requirements, lacking both a market value of listed securities of at least $35 million and net income of $500,000 from continuing operations in the most recent fiscal year or in two of the past three fiscal years. The Nasdaq notice does not immediately affect the listing of the Company's common stock, which continues trading on The Nasdaq Capital Market under the symbol "SNGX," provided the Company meets other continued listing requirements. The Company has 45 calendar days, until Sept. 29, 2025, to submit a plan to regain compliance, and if accepted, Nasdaq may extend the compliance period by up to 180 calendar days from the date of the notice. The Company said it is evaluating options to regain compliance and intends to submit its plan to Nasdaq to meet the Stockholders' Equity Requirement, though there is no assurance the plan will be accepted or successful. If the plan is rejected, or if compliance is not achieved within 180 days, or if another Nasdaq requirement is not met, Nasdaq could notify the Company that its common stock may be delisted. In such a case, the Company may appeal to a Nasdaq Hearings Panel, which would stay any suspension or delisting pending the hearing and any additional extension granted by the panel. About Soligenix Soligenix, Inc., headquartered in Princeton, New Jersey, is a late-stage biopharmaceutical company developing and commercializing treatments for rare diseases. The Company operates two segments: Specialized BioTherapeutics, advancing HyBryte (synthetic hypericin sodium) for cutaneous T-cell lymphoma through photodynamic therapy, and Public Health Solutions, which develops vaccines and therapeutics for infectious diseases, including ricin toxin, filoviruses, and COVID-19. The Company is conducting a second Phase 3 study, FLASH2, with top-line results expected in the second half of 2026, after which it plans to pursue potential global regulatory approvals. In its March 21, 2025 audit report, Cherry Bekaert LLP issued a "going concern" qualification, noting that the Company's recurring losses and negative operational cash flows raise substantial doubt about its ability to continue as a going concern. Soligenix reported a net loss applicable to common stockholders of $8.27 million in 2024 following a net loss applicable to common stockholders of $6.14 million in 2023. Management believes that the Company has sufficient resources to support development activities, business operations, and meet its obligations through the first quarter of 2026. However, as of Aug. 14, 2025, the Company does not have sufficient cash and cash equivalents to fund operations for at least 12 months following the issuance of its Quarterly Report on Form 10-Q for the period ended June 30, 2025. SPHERE 3D: Posts Fiscal Q2 Net Income of $1.7 Million ----------------------------------------------------- Sphere 3D Corp. announced in a press release its financial results for the second quarter of fiscal year 2025 ended June 30, 2025. COMMENTS FROM SPHERE 3D LEADERSHIP: "While market conditions have remained relatively steady this quarter, our strategy remains unchanged- strengthen our foundation, manage costs, and build a business that performs across cycles. As Bitcoin adoption continues to expand over the long term, we are committed to scaling with discipline and positioning the Company to capture that growth." says Interim CEO Kurt Kalbfleisch. 2025 SECOND QUARTER HIGHLIGHTS: * Achieved net income of $1.7 million. * Continued quarterly reduction in operating expenses, incurring the lowest quarterly operating expenses since the beginning of 2022. BITCOIN ASSET AND VALUE As of June 30, 2025, the Company had a self-mined Bitcoin balance of 20.5 with a fair value of approximately $2.2 million. SECOND QUARTER FY 2025 FINANCIAL RESULTS: * Revenue was $3.0 million for the second quarter of 2025, compared to $4.7 million for the second quarter of 2024. The decrease in revenue and Bitcoin production was primarily driven by weaker post-halving economics and downtime during our transition away from high-cost hosting contracts. In addition, the Company is in the process of de-commissioning its older mining equipment and replacing them with newer generation machines. * Bitcoin production during the second quarter of 2025 was 30.9 Bitcoin, compared to 70.7 Bitcoin for the second quarter of 2024. * Operating costs and expenses for the quarter were reduced by 46% to $5.6 million, compared to $10.4 million for the second quarter of 2024. * Depreciation and amortization was $1.7 million for the second quarter of 2025, compared to $1.8 million for the second quarter of 2024. * Loss from operations was reduced by 54% to $2.6 million in the second quarter of 2025, compared to $5.7 million for the second quarter of 2024. * Investment gain was $4.3 million for the second quarter of 2025, compared to $7.8 million for the second quarter of 2024. * Net income was $1.7 million, or a net income of $0.06 per share for the second quarter of 2025, compared to net income of $2.1 million, or net income of $0.11 per share, for the second quarter of 2024. About Sphere 3D Sphere 3D Corp. (Nasdaq: ANY) is a cryptocurrency miner, growing its industrial-scale digital asset mining operation through the capital-efficient procurement of next-generation mining equipment and partnering with best-in-class data center operators. Sphere 3D is dedicated to increasing shareholder value while honoring its commitment to strict environmental, social, and governance standards. For more information about the Company, please visit Sphere3D.com. In its report dated March 28, 2025, the Company's auditor MaloneBailey, LLP, issued a "going concern" qualification citing that the Company has suffered recurring losses from operations and does not expect to have sufficient cash on hand to fund its operations that raises substantial doubt about its ability to continue as a going concern. SRX HEALTH: Cancels 18.8M Shares Amid CCAA Proceedings ------------------------------------------------------ SRx Health Solutions, Inc. (NYSE American: SRXH), a global health and wellness company, announced on Aug. 14, 2025, that it has canceled approximately 18.8 million shares of its capital stock to the previously disclosed grant of an Initial Order under the federal Companies' Creditors Arrangement Act by the Ontario Superior Court of Justice to the Company's Canadian subsidiary SRx Health Solutions (Canada), Inc. and certain of its subsidiaries. The cancellation was made pursuant to a Settlement, Share Forfeiture and Mutual Release Agreement between the Company and certain of the founders and former officers of SRx Canada, along with their respective affiliates and other related parties (the "Forfeiting Stockholders"). Pursuant to the Settlement Agreement, the Forfeiting Stockholders have forfeited for cancellation approximately 18.8 million shares of the capital stock of SRx Canada which are exchangeable for shares of the Company's common stock, par value $0.0001 per share, on a one-for-one basis. The Forfeited Shares were originally issued pursuant to the terms of the previously announced arrangement transaction (the "Arrangement") pursuant to which the Company acquired SRx Canada. In consideration of the Forfeited Shares, the Company has agreed to release the Forfeiting Stockholders from certain claims by the Company. The Forfeited Shares represent approximately 60% of the aggregate number of shares of Common Stock and Exchangeable Shares issued and outstanding immediately prior to the execution of the Settlement Agreement. The Company intends to explore all available legal remedies against former officers of SRx Canada who are not parties to the Settlement Agreement in order to recover any lost value on behalf of its stockholders. About SRx Health Solutions, Inc. SRx Health Solutions Inc. is an integrated Canadian healthcare services provider that operates within the specialty healthcare industry. The SRx network extends across all ten Canadian provinces, making it one of the most accessible providers of comprehensive, integrated, and customized specialty healthcare services in the country. SRx combines years of industry knowledge, technology, and patient-centric focus to create strategies and solutions that consistently exceed client expectations and drive critical patient care initiatives aimed to improve the wellness of Canadians. For more information on SRx Health Solutions Inc., please visit www.srxhealth.com. SUNTERRA FOOD: Deadline to File Claims Set in CCAA Case ------------------------------------------------------- The Court of King's Bench of Alberta in Calgary issued an order ("Claims Procedure Order") in the CCAA proceedings of Sunterra Food Corporation and its affiliates ("Sunterra Group"). The Claims Procedure Order requires that all Persons that wish to assert a claim against any of the Sunterra Group entities or the Directors and/or Officers of any of the Sunterra Group entities must file a Proof of Claim or D&O Proof of Claim, as applicable, with FTI Consulting Canada Inc., in its capacity as Court-appointed Monitor of the Sunterra Group on or before 5:00 p.m. (Calgary time) on Sept. 4, 2025 ("Claims Bar Date"), or in the case of a Restructuring Period Claim or Restructuring Period D&O Claim, on or before the applicable Restructuring Period Claims Bar Date. The Monitor will also send or cause to be sent, on or before Aug. 7, 2025, a General Claims Package (which will include the form of Proof of Claim and D&O Proof of Claim) to: (i) each Person that appears on the Service List (except Persons that are likely to assert only Excluded Claims, in the reasonable opinion of the Sunterra Group and the Monitor); (ii) any Person who has requested a Proof of Claim in respect of any potential Claim; and (iii) any Person known to the Sunterra Group or the Monitor as having a potential Claim based on the books and records of the Sunterra Group. Claimants may also obtain the Claims Procedure Order, a General Claims Package, or further information or documentation regarding the Claims Process from the Monitor's website at: https://cfcanada.fticonsulting.com/Sunterra or by contacting the Monitor. The Claims Bar Date is 5:00 p.m. (Calgary time) on Sept. 4, 2025. Proofs of Claim in respect of Pre-Filing Claims and Pre-Filing D&O Claims must be completed and filed with the Monitor on or before the Claims Bar Date. The Restructuring Period Claims Bar Date is 5:00 p.m. (Calgary time) on the date that is the later of: (i) thirty (30) days after the date on which the Monitor sends a General Claims Package with respect to a Restructuring Period Claim or Restructuring Period D&O Claim; and (ii) the Claims Bar Date. Proofs of Claim and D&O Proofs of Claim in respect of Restructuring Period Claims and Restructuring Period D&O Claims must be completed and filed with the Monitor on or before the Restructuring Period Claims Bar Date. It is your responsibility to ensure that the Monitor receives your Proof of Claim or D&O Proof of Claim by the applicable Bar Date if you wish to assert any Claim. Claims and d&o claims which are not received by the applicable bar date will be barred and extinguished forever. A Proof of Claim or D&O Proof of Claim, as applicable, must be delivered to the Monitor by prepaid ordinary mail, registered mail, courier, personal delivery, or email at the address below: FTI Consulting Canada Inc., in its capacity as Court-appointed Monitor of the Sunterra Group entities 520 Fifth Avenue S.W. Suite 1610 Calgary, AB, Canada T2P 3R7 Email: Sunterra@FTIConsulting.com In accordance with the Claims Procedure Order, notices will be deemed to be received by the Monitor upon actual receipt thereof during normal business hours on a Business Day, or if delivered outside normal business hours, on the next Business Day. Sunterra Food Corporation -- https://www.sunterramarket.com -- operates a chain of grocery shops. SUNTERRA FOOD: Gets Court's Initial Stay Order; FTI as Monitor -------------------------------------------------------------- Sunterra Food Corporation and its affiliates ("Sunterra Group") sought and obtained an order ("Initial Order") from the Court of King's Bench of Alberta ("Court") authorizing that the NOI Proceedings which were commenced on March 24, 2025, be continued under the Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended ("CCAA"). FTI Consulting Canada Inc. was appointed as monitor of Sunterra Group. The Initial Order provides, among other things, a stay of proceedings until April 28, 2025 ("Stay Period") and may be extended by the Court from time to time. A comeback hearing was scheduled to be heard on April 28, 2025, whereby Sunterra Group intend to request an extension of the stay of proceedings until July 31, 2025. A copy of the Initial Order and copies of the materials publicly filed in the CCAA proceedings may be obtained at https://cfcanada.fticonsulting.com/sunterra/. Sunterra Group are continuing operations pursuant to the terms of the Initial Order. Please check the Monitor's website to confirm if the Applicants request for an extension of the stay of proceedings to July 31, 2025, was granted at Comeback Hearing. If you have any questions regarding the foregoing or require further information, please consult the Monitor's website at https://cfcanada.fticonsulting.com/sunterra/ or contact the Monitor by calling 1-833-719-1911 or e-mailing Sunterra@FTIConsulting.com. The Monitor can be reached at: FTI Consulting Canada Inc. Attn: Dustin Olver Deryck Helkaa Robert Kleebaum 520 Fifth Avenue S.W. Suite 1610 Calgary, AB T2P 3R7 Tel: (403) 454-6032 (403) 454-6031 Fax: (403) 232-6116 Email: dustin.olver@fticonsulting.com deryck.helkaa@fticonsulting.com Robert.Kleebaum@fticonsulting.com Counsel to Sunterra Food Corporation: Blue Rock Law LLP Attn: David W. Mann, K.C., Esq. Scott Chimuk, Esq. Andrea Arndt, Esq. 700-215 9 Avenue SW Calgary AB T2P ORS Email: david.mann@bluerocklaw.com scott.chimuk@bluerocklaw.com Andrea.Arndt@BlueRockLaw.com Counsel for FTI Consulting Canada Inc.: Norton Rose Fulbright Canada LLP Attn: Howard Gorman, K.C., Esq. Gunnar Benediktsson, Esq. 400 3rd Avenue SW Suite 3700 Calgary Alberta, Canada, T2P 4H2 Emails: howard.gorman@nortonrosefulbright.com gunnar.benediktsson@nortonrosefulbright.com Sunterra Food Corporation -- https://www.sunterramarket.com -- operates a chain of grocery shops. TOG HOTELS: Plan Exclusivity Period Extended to September 18 ------------------------------------------------------------ Judge Scott W. Everett of the U.S. Bankruptcy Court for the Northern District of Texas extended TOG Hotels Downtown Dallas LLC's exclusive periods to file a plan of reorganization and obtain acceptance thereof to September 18 and November 17, 2025, respectively. As shared by Troubled Company Reporter, based on a weighing of the relevant factors, there is more than sufficient cause to approve the extension of the Exclusive Periods requested by the Debtor: * The Debtor requires additional time to gather and share the information with the Lender needed to negotiate a consensual plan of reorganization. Further, the universe of potential claims against the Debtor will not be known until the claims bar date has been reached on June 30, 2025. * The requested extension of the Exclusive Periods is the first such request made in this Chapter 11 Case and is approximately four months after the Petition Date. This amount of time is not long given the complexity of the issues involved, the fact that the Debtor has changed counsel and continues to work with the Lender to negotiate a consensual plan. * The Debtor is not seeking an extension of the Exclusive Periods to pressure or prejudice any of its stakeholders. Rather, the Debtor is seeking an extension of the Exclusive Periods to preserve and build upon the progress made to date by securing adequate time to develop a plan of reorganization. TOG Hotels Downtown, LLC is represented by: M. Jermaine Watson, Esq. Tiereney Bowman, Esq. Emily M. Campbell, Esq. Cantey Hanger LLP 600 West 6th Street, Suite 300 Tel: (817) 877-2800 Fax: (817) 333-2961 Email: jwatson@canteyhanger.com Email: tbowman@canteyhanger.com Email: ecampbell@canteyhanger.com About TOG Hotels Downtown Dallas LLC TOG Hotels Downtown, LLC, operates the Crowne Plaza Dallas Downtown hotel, located at 1015 Elm Street in Dallas, Texas. TOG Hotels Downtown filed a Chapter 11 petition (Bankr. N.D. Tex. Case No. 25-30600) on Feb. 20, 2025. In its petition, the Debtor reported between $10 million and $50 million in both assets and liabilities. Judge Scott W. Everett handles the case. The Debtor is represented by M. Jermaine Watson, Esq. at Cantey Hanger LLP. TOR WELLNESS: Gets Interim OK to Use Cash Collateral ---------------------------------------------------- The U.S. Bankruptcy Court for the District of Colorado granted TOR Wellness, LLC and TOR Wellness Two, LLC interim approval to use cash collateral. The Debtors may use cash collateral in accordance with the budgets=, subject to a deviation on line item expenses not to exceed 15%. No upward variance is permitted on any management or consulting fees paid to Ryan Consulting, LLC. As adequate protection for the Debtors' use of their cash collateral, secured creditors including the U.S. Small Business Administration, Colorado Department of Revenue and Equity Bank, N.A. will have a perfected post-petition lien on the cash collateral, with the same validity, extent and priority as their pre-bankruptcy liens. In addition, the Debtors must keep collateral insured, provide monthly accounting via operating reports, and maintain the collateral's operations as further protection to secured creditors. A final hearing is scheduled for September 3. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/9TlHd from PacerMonitor.com. About TOR Wellness TOR Wellness, LLC provides X-ray-based chiropractic services with a focus on natural, holistic wellness and long-term corrective care. It serves patients of all ages, offering treatments for conditions such as chronic pain, sports injuries, and prenatal and pediatric concerns. The company also offers rehabilitation support, family wellness programs, and integrated massage therapy. Its affiliate, TOR Wellness Two, LLC, is a chiropractic and wellness services provider in Colorado Springs. TOR Wellness and TOR Wellness Two sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case Nos. 25-14429 and 25-14430) on July 16, 2025. In their petitions, TOR Wellness reported up to $50,000 in assets and between $1 million and $10 million in liabilities while TOR Wellness Two reported up to $50,000 in assets and between $500,001 and $1 million in liabilities. Honorable Bankruptcy Judge Joseph G Rosania Jr handles the case. Keri L. Riley, Esq., at Kutner Brinen Dickey Riley, P.C. is the Debtors' legal counsel. Equity Bank, N.A., as secured creditor, is represented by: Ryan L. Blansett, Esq. Markus Williams Young & Hunsicker LLC 1775 Sherman Street, Suite 1950 Denver, CO 80203 Telephone: 303-830-0800 Facsimile: 303-830-0809 rblansett@MarkusWilliams.com TPI COMPOSITES: Court Approves First Motions In Bankruptcy Case --------------------------------------------------------------- TPI Composites, Inc. (NASDAQ: TPIC) together with its domestic subsidiaries announced on Aug. 13, 2025, that the U.S. Bankruptcy Court for the Southern District of Texas approved all first-day motions filed by the Company in connection with its voluntary chapter 11 proceedings. The approvals provide the Company with the operational flexibility and liquidity necessary to continue normal business operations during the chapter 11 process. Key motions approved include, interim approval for debtor-in-possession financing from its senior secured lenders of up to $82.5 million, the continuation of employee wages and benefits, maintenance of cash management systems, and the authority to pay certain prepetition obligations critical to ongoing operations. "Our priority is to maintain stability and support for our employees, customers, and partners during this process," said Bill Siwek, Chief Executive Officer of TPI. "The court's approval of these first-day motions allows us to focus on executing our strategic initiatives to strengthen the Company for the long term." Additional Information Additional information regarding the Company's court-supervised process is available at https://restructuring.ra.kroll.com/TPIComposites. Court filings and other information related to the proceedings are available on a separate website administrated by the Company's claims agent, Kroll, at https://restructuring.ra.kroll.com/TPIComposites; by calling Kroll representatives at (877) 280-2696 within the U.S. & Canada (or +1 (646) 290-7082 internationally for calls originating outside of the U.S.); or by sending an email to TPIinfo@ra.kroll.com. About TPI Composites Inc. TPI Composites -- https://tpicomposites.com/ -- is a leading wind-blade manufacturer and the only independent wind blade manufacturer with a global footprint. TPI Composites Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-34655) on August 11, 2025. The company listed $500 million to $1 billion in estimated assets, along with $1 billion to $10 billion in estimated liabilities. Honorable Bankruptcy Judge Christopher M. Lopez handles the case. The Debtor is represented by Gabriel Adam Morgan, Esq. at Weil, Gotshal & Manges LLP. TRINSEO PLC: Increases Shares by 2.4M Under Omnibus Plan -------------------------------------------------------- Trinseo PLC filed a registration statement on Form S-8 with the U.S. Securities and Exchange Commission for the purpose of increasing the number of shares of common stock to be issued under the Trinseo PLC Amended & Restated 2014 Omnibus Incentive Plan by 2,425,000 shares, from 7,575,000 shares to 10,000,000 shares. In accordance with General Instruction E to Form S-8, the Company incorporates by reference the contents of the: * Registration Statement on Form S-8 (Registration No. 333- 273699) filed on August 4, 2023, * Registration Statement on Form S-8 (Registration No. 333- 266696) filed on August 9, 2022, * Registration Statement on Form S-8(Registration No. 333-240195) filed on July 30, 2020 and Post-Effective Amendment No. 1 to such Registration Statement filed on October 8, 2021, * the Registration Statement on Form S-8 (Registration No. 333-232925) filed on July 31, 2019 and Post-Effective Amendment No. 1 to such Registration Statement filed on October 8, 2021, and * the Registration Statement on Form S-8 (Registration No. 333-196973) filed on June 23, 2014 and Post-Effective Amendment No. 1 to such Registration Statement filed on October 8, 2021. The shareholders of the Company approved a proposal to amend the Plan for this purpose at the annual general meeting of shareholders on June 25, 2025. Trinseo may be reached through: Angelo Chaclas Senior Vice President, Chief Legal Officer and Corporate Secretary Trinseo PLC 440 East Swedesford Road Suite 301 Wayne, PA 19087 Tel: (610) 240-3200 A full-text copy of the Registration Statement is available at https://tinyurl.com/yccwbsyu About Trinseo Headquartered in Wayne, PA, Trinseo (NYSE: TSE) (www.trinseo.com), a specialty material solutions provider, partners with companies to bring ideas to life in an imaginative, smart, and sustainably focused manner by combining its premier expertise, forward-looking innovations, and best-in-class materials to unlock value for companies and consumers. From design to manufacturing, Trinseo taps into decades of experience in diverse material solutions to address customers' unique challenges in a wide range of industries, including building and construction, consumer goods, medical, and mobility. * * * In January 2025, S&P Global Ratings raised the issuer credit rating on Trinseo PLC to 'CCC+' from 'SD' (selected default). All issue-level and recovery ratings on the company's existing debt are unchanged. The outlook is negative and reflects the challenging macroeconomic environment affecting the company's key end markets and S&P's expectation that credit metrics will remain pressured over the next 12 months. UNIFIED SCIENCE: Has Deal on Cash Collateral Access --------------------------------------------------- Unified Science, LLC and Byline Bank advised the U.S. Bankruptcy Court for the Western District of Wisconsin that they have reached an agreement regarding the use of cash collateral and now desire to memorialize the terms of this agreement into an agreed order. Byline holds a judgment against the Debtor in the amount of $10.5 million and has a security interest in all of the Debtor's personal property, cash collateral, and certain real estate properties located at 500 Simmon Dr. and 811 Pine St., Osceola, Wisconsin. To protect Byline's collateral while the Debtor works toward confirming a Chapter 11 plan, the parties have agreed that the Debtor will make monthly adequate protection payments of $75,000, starting on September 15, 2025. Additionally, the Debtor must list the Pine property for sale, with a licensed broker, initially at $2.9 million or another amount recommended by the broker. The Debtor is also required to maintain general liability and property insurance for both properties, naming Byline as the loss payee and mortgagee. Monthly operating reports must be timely filed, and the Debtor acknowledges the enforceability of Byline's loan documents. In return for consenting to the use of its cash collateral, Byline is granted post-petition replacement liens on the Debtor's assets, effective as of the petition date. However, if the court does not approve these liens, Byline's consent to the use of its cash collateral will immediately terminate. Adequate protection payments must be made via ACH from the Debtor's DIP account, and if funds are insufficient or any term of the stipulation is breached, Byline may notify the Debtor, who then has five days to cure the default. Failure to cure will result in automatic termination of Byline’s consent to use the cash collateral. A copy of the motion is available at https://urlcurt.com/u?l=PoXKH0 from PacerMonitor.com. About Unified Science LLC Unified Science LLC, doing business as United Science, provides services, consulting, and manufacturing for the pharmaceutical and nutraceutical industries. The company offers product development, process engineering, analytical development, and compliance services. It positions itself as a scientific partner supporting clients from development through to product launch. Unified Science sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wis. Case No. 25-11162) on May 19, 2025. In its petition, the Debtor reported estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Judge Catherine J. Furay handles the case. The Debtor is represented by Evan M. Swenson, Esq., at Swenson Law Group, LLC. Byline Bank, as lender, is represented by: Daniel J. Habeck, Esq. Cramer Multhauf LLP 1601 E. Racine Avenue, Suite 200 P.O. Box 558 Waukesha, WI 53187-0558 Phone: (262) 542-4278 Fax: (262) 542-4270 djh@cmlawgroup.com USA STAFFING: Seeks to Hire Angela Welch as Accountant ------------------------------------------------------ USA Staffing Solutions, LLC, Staffing Management Group, LLC, and MK Ultra Investments, LLC seek approval from the U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division, to hire Angela Welch, a professional doing accounting job, to serve as accountant in their jointly administered Chapter 11 cases. Ms. Welch will provide these services: (a) assist with the preparation of the Debtors' monthly operating reports; (b) assist with the Debtors' cash collateral budgets; (c) assist with the Debtors' projections; and (d) provide other accounting services as requested in connection with these bankruptcy cases. Ms. Welch shall receive an hourly rate of $285, plus reimbursement for any expenses. According to court filings, Ms. Welch does not represent any interest adverse to the Debtors. She can be reached at: Angela Welch 12191 W. Linebaugh Avenue, #401 Tampa, FL 33626 E-mail: welchtrustee@gmail.com About USA Staffing Services LLC USA Staffing Services, LLC provides staffing solutions across the United States through a network of locally owned partner offices. It offers temporary staffing, direct hire, and customized workforce solutions for businesses across various industries and locations. USA Staffing Services and its affiliates, Staffing Management Group, LLC and MK Ultra Investments, LLC filed Chapter 11 petitions (Bankr. M.D. Fla. Lead Case No. 25-04358) on June 27, 2025. In its petition, USA Staffing Services reported total assets of $6,315,418 and total liabilities of $3,239,607. Judge Catherine Peek McEwen handles the cases. The Debtors are represented by Daniel E. Etlinger, Esq., at Underwood Murray, P.A. VENUS CONCEPT: Extends Bridge Loan With Madryn Entities to Aug. 31 ------------------------------------------------------------------ Venus Concept Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that on July 31, 2025, the Company, Venus Concept USA, Inc., a wholly-owned subsidiary of the Company, Venus Concept Canada Corp., a wholly-owned Canadian subsidiary of the Company, and Venus Concept Ltd., a wholly-owned Israeli subsidiary of the Company ("Venus Israel" and together with the Company, Venus USA and Venus Canada, the "Loan Parties"), entered into a Consent Agreement with Madryn Health Partners, LP and Madryn Health Partners (Cayman Master), LP ("Madryn Cayman," and together with Madryn, the "Lenders" or the "Holders") (the "July Consent Agreement"). The July Consent Agreement granted relief under the Loan and Security Agreement (Main Street Priority Loan), dated December 8, 2020, among the Lenders, as lenders, and Venus USA, as borrower (the "MSLP Loan Agreement"), such that certain minimum liquidity requirements under the MSLP Loan Agreement are waived through August 6, 2025. Seventeenth Bridge Loan Amendment: On July 31, 2025, the Loan Parties entered into a Seventeenth Bridge Loan Amendment Agreement with the Lenders. The Seventeenth Bridge Loan Amendment amended that certain Loan and Security Agreement, dated April 23, 2024, among Venus USA, as borrower, the Company, Venus Canada and Venus Israel, as guarantors, and the Lenders, as lenders (as amended from time to time, the "Bridge Loan"), to extend the maturity date of the Bridge Loan from July 31, 2025 to August 6, 2025. July Notes Consent Agreement: On July 31, 2025, the Loan Parties entered into a Consent Agreement with the Lenders (the "July Notes Consent Agreement). The July Notes Consent Agreement granted relief under those certain secured subordinated convertible notes issued by the Company in favor of the Lenders, dated March 31, 2025 (the "2025 Notes"), such that certain minimum liquidity requirements under 2025 Notes are waived through August 6, 2025. Eighteenth Bridge Loan Amendment: On August 6, 2025, the Loan Parties entered into an Eighteenth Bridge Loan Amendment Agreement with the Lenders. The Eighteenth Bridge Loan Amendment amended the Bridge Loan, to, among other things: (i) extend the maturity date of the Bridge Loan from August 6, 2025 to August 31, 2025; (ii) establish a 50% threshold for a change of control event, and (iii) add or update customary negative covenants and events of default. August MSLP Consent Agreement: On August 6, 2025, the Loan Parties entered into a Consent Agreement with the Lenders. The August Consent Agreement granted relief under the MSLP Loan Agreement: (i) certain minimum liquidity requirements under the MSLP Loan Agreement are waived through August 31, 2025, and (ii) Venus USA is permitted to apply the August 8, 2025 cash interest payment due under each Note (as defined in the August Consent Agreement) to the respective outstanding principal balance of each Note. August Notes Consent Agreement: The Loan Parties also entered into a Consent Agreement with the Lenders. The August Notes Consent Agreement granted relief under the 2025 Notes, such that certain minimum liquidity requirements under 2025 Notes are waived through August 31, 2025. About Venus Concept Toronto, Ontario-based Venus Concept Inc. is an innovative global medical technology company that develops, commercializes, and delivers minimally invasive and non-invasive medical aesthetic and hair restoration technologies and related services. The Company's systems have been designed on cost-effective, proprietary, and flexible platforms that enable the Company to expand beyond the aesthetic industry's traditional markets of dermatology and plastic surgery, and into non-traditional markets, including family medicine and general practitioners and aesthetic medical spas. Mississauga, Canada-based MNP LLP, the Company's auditor since 2019, issued a "going concern" qualification in its report dated March 31, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company has reported recurring net losses and negative cash flows from operations, which raises substantial doubt about its ability to continue as a going concern. VENUS CONCEPT: Removes Automatic Conversion for Preferred Shares ---------------------------------------------------------------- Venus Concept Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that on August 6, 2025, the Company filed a Certificate of Amendment with the Secretary of State of the State of Delaware, thereby amending the Certificate of Designations with respect to the Company's Series Y Convertible Preferred Stock, as filed with the Secretary of State of the State of Delaware on May 24, 2024 and as amended by those certain Certificate of Amendments filed with the Secretary of State of the State of Delaware on September 26, 2024, March 31, 2025 and June 30, 2025. The Certificate of Amendment became effective upon filing. The Certificate of Amendment amends the Certificate of Designations to, among other things, eliminate the provisions that provide for the automatic conversion of the Series Y Preferred Stock into common stock upon on the occurrence of the certain conditions set forth in the Certificate of Designations. About Venus Concept Toronto, Ontario-based Venus Concept Inc. is an innovative global medical technology company that develops, commercializes, and delivers minimally invasive and non-invasive medical aesthetic and hair restoration technologies and related services. The Company's systems have been designed on cost-effective, proprietary, and flexible platforms that enable the Company to expand beyond the aesthetic industry's traditional markets of dermatology and plastic surgery, and into non-traditional markets, including family medicine and general practitioners and aesthetic medical spas. Mississauga, Canada-based MNP LLP, the Company's auditor since 2019, issued a "going concern" qualification in its report dated March 31, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company has reported recurring net losses and negative cash flows from operations, which raises substantial doubt about its ability to continue as a going concern. VIRIDOS INC: Seeks to Extend Plan Exclusivity to Nov. 10 -------------------------------------------------------- Viridos Inc. asked the U.S. Bankruptcy Court for the District of Delaware to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to November 10, 2025 and January 9, 2026, respectively. The Debtor explains that it is working with its major stakeholders to consider the most efficient and value-maximizing exit to this chapter 11 case. The Debtor believes that, in light of the progress made in this Chapter 11 Case, it is reasonable to request an extension of the Exclusivity Periods to maintain the status quo while the Debtor work to reach consensus on that decision. Further, granting the requested extension of the Exclusivity Periods will not prejudice or pressure the Debtor's creditor constituencies or grant the Debtor any unfair bargaining leverage. Accordingly, the Debtor submits that the extension is warranted and appropriate under the circumstances. The Debtor claims that it continues to make timely payments on their undisputed postpetition obligations. As such, this factor weighs in favor of allowing the Debtor to extend the Exclusivity Periods. The Debtor notes that it is only in chapter 11 for only four months. During the previous months, the Debtor has worked diligently to accomplish numerous milestones, including conducting a value-maximizing sale process for substantially all of its assets. The Debtor submits that the short time that this chapter 11 case has been pending weighs in favor of allowing the Debtor to extend the Exclusivity Periods. Viridos Inc. is represented by: Morgan L. Patterson, Esq. Matthew P. Ward, Esq. Marcy J. McLaughlin Smith, Esq. WOMBLE BOND DICKINSON (US) LLP 1313 North Market Street, Suite 1200 Wilmington, DE 19801 Tel: (302) 252-4320 Fax: (302) 252-4330 Email: morgan.patterson@wbd-us.com Email: matthew.ward@wbd-us.com Email: marcy.smith@wbd-us.com About Viridos Inc. Viridos Inc. (formerly known as Synthetic Genomics, Inc.) develops a scalable microalgae platform to produce low-carbon intensity biofuels for heavy transportation sectors such as aviation and commercial trucking. Backed initially by ExxonMobil and holding over 100 patents, it remains pre-revenue but projects oil yields up to 20 times those of existing crops and an associated 73-88 percent reduction in carbon emissions. Viridos Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10697) on April 14, 2025. In its petition, the Debtor estimated assets between $10 million and $50 million and estimated liabilities between $1 million and $10 million. The Honorable Bankruptcy Judge Craig T. Goldblatt handles the case. The Debtor is represented by Womble Bond Dickerson (US) LLP. Rock Creek Advisors, LLC is the Debtor's financial consultant. Stretto is the Debtor's claims and noticing agent. VMR CONTRACTORS: Court Extends Cash Collateral Access to Sept. 19 ----------------------------------------------------------------- VMR Contractors Inc. received another extension from the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division to use cash collateral. The order authorized the Debtor to use cash collateral through September 19 in accordance with its budget and the terms of the order entered on March 1, 2023. The budget shows total expenses of $488,000 for the period ending September 8. These expenses include payroll, payroll taxes, steel purchases, office supplies, union benefits, and other expenses. The next hearing is scheduled for September 15. As previously reported, several entities may claim an interest in the Debtor's cash collateral. Those potential claimants are: 1. State of Illinois, which recorded state tax liens on April 28 and June 14, 2022, in the total amount of $32,346. 2. Internal Revenue Service, which recorded federal tax liens with the Illinois Secretary of State, including a lien November 16, 2016, in the amount of $424,956. Other tax liens also have been recorded; the IRS has asserted it is owed $819,234. The Debtor disputes a large portion of this amount, including an obligation from 2015 of $560,027, which appears to be clearly erroneous because it is wholly disproportionate to the Debtor's operations. 3. Old National Bank, whose predecessor, Bridgeview Bank Group, filed on August 1, 2018, a financing statement with the Illinois Secretary of State as document number 023614561. The amount owed to Old National is approximately $160,633. About VMR Contractors VMR Contractors, Inc. is in the business of supplying and installing rebar for road construction projects. VMR Contractors sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 22-14211) on Dec. 8, 2022, with $500,001 to $1 million in assets and $1 million to $10 million in liabilities. Vincent Roberson, president of VMR Contractors, signed the petition. Judge Benjamin Goldgar oversees the case. The Debtor is represented by William J. Factor, Esq., at The Law Office of William J. Factor, Ltd. VOSSEKUIL PROPERTIES: Claims to be Paid from Property Sale Proceeds ------------------------------------------------------------------- Vossekuil Properties, LLC, filed with the U.S. Bankruptcy Court for the Eastern District of Wisconsin a Disclosure Statement describing Plan of Reorganization dated August 11, 2025. The Debtor is a Wisconsin limited liability company. The Debtor owns six separate properties. All of the single-family properties are fully occupied with year long leases, except one. The multi-use property does not currently have a tenant for the assisted living portion of the property. And there are 4-5 apartments in the apartment complex that are not currently rented. The owner of Vossekuil Properties, LLC, Dean Vossekuil, has had good success in owning and managing rental properties. Mr. Vossekuil considered these rental properties his retirement plan and is working hard to keep the proposed buyer interested in the properties so they can sell smoothly and the current tenants will not see any disruption in their lives. On March 4, 2024, WBL SPO I, LLC obtained a default judgment against the Debtor for foreclosure. As a result of the foreclosure Debtors Assisted Living facility lost its licensure and was forced to close. This meant a loss of $11,000 per month in rent, leaving even less money to make payments with. To stop the foreclosure proceedings, on February 22, 2025, the Debtor filed a voluntary petition for relief under subchapter V of Chapter 11 of the Bankruptcy Code, commencing the case. The Debtor has found a buyer that is local to the communities in which all of the Rental Properties are located. The potential purchaser made an offer to purchase that continues to be extended while this bankruptcy proceeds through the Court process. Having a local buyer for the Rental Properties will, it is expected, allow a familiar face to be part of the tenants future. The Plan provides for the sale of all of the Debtor's Rental Properties. This sale will pay in full the secured tax claims of the Fond Du Lac County Treasurer and the Dodge County Treasurer. The Plan will pay the administrative claims of the former Subchapter V Trustee as well as the attorney for the Debtor. The claim of WBL SPO I, LLC will be partially paid as the property values do not exceed the debt on them. Once WBL SPO I, LLC is paid no other claims will be paid. Class 6 consists of Allowed Priority Unsecured Claims of the Tenants Owed Security Deposits. The estimated $15,000.00 in security deposits of the Debtor's tenants, which are being held in trust by the Debtor shall be turned over to the new owner at the time of closing. Class 7 consists of all allowed general non-priority unsecured claims. According to the filed proofs of claims filed there are no unsecured claims. Class 8 consists of any equity interest of the Debtor shall be retained by them, same being of nominal or no value to creditors. The Debtor will implement and fund this Plan through the sale of all of the Rental Properties. The Debtor has an accepted Letter of Intent to purchase all of the Rental Properties described in Section A of the Disclosure Statement. The letter of intent requires the following: * Commencement of negotiations to agree upon a purchase agreement. Once the purchase agreement is executed the buyer shall deposit $5,000 earnest money with the title company. * The Buyer then has 45 days to complete its due diligence. Upon the expiration of the Due diligence period closing shall take place within 30 days. * It is expected that all due diligence and the closing of the sale of the real estate shall take no longer than 120 days. This shall be called the "Debtor's Sale Period." * The purchase price offered is $1,680,000.00. A full-text copy of the Disclosure Statement dated August 11, 2025 is available at https://urlcurt.com/u?l=s7vlMK from PacerMonitor.com at no charge. Counsel to the Debtor: Michelle A. Angell, Esq. Miller & Miller Law, LLC 633 W. Wisconsin Ave., Ste. 500 Milwaukee, WI 53203 Telephone: (414) 277-7742 Facsimile: (414) 277-1303 Email: michelle@millermillerlaw.com About Vossekuil Properties Vossekuil Properties LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Wis. Case No. 25-20671) on Feb. 10, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. The Debtor is represented by Michelle A Angell, Esq., at MILLER & MILLER LAW, LLC. WFO LLC: Trustee to Expand Role of Dykema as Bankruptcy Counsel --------------------------------------------------------------- Mark Andrews, the Chapter 11 Trustee for WFO, LLC, seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to expand the employment of Dykema Gossett, PLLC as additional bankruptcy counsel, in addition to its existing role as transaction counsel, in the Debtor's Chapter 11 case. The firm will provide these services: (a) assist the Trustee, and the Estate's existing bankruptcy counsel, Patrick Kelley of Patrick Kelley, PLLC, with litigation and claims matters; (b) represent the Trustee in bankruptcy and bankruptcy litigation matters; and (c) assist the Trustee in connection with the sale and monetization of the remaining "hard" assets of the Estate. Andrew Sherwood will bill at a discounted hourly rate of $625 and Patrick Huffstickler at $665. Members of the firm will bill between $550 and $715 per hour, and associates or senior counsel attorneys between $375 and $535 per hour. The firm will also seek reimbursement for actual and necessary expenses, including travel, messenger services, filing and recording fees, photocopying, computerized research, and long distance, billed in accordance with its standard schedule of charges. Dykema Gossett is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Patrick L. Huffstickler, Esq. Andrew Sherwood, Esq. DYKEMA GOSSETT PLLC 112 E. Pecan Street, Suite 1800 San Antonio, TX 78205 Telephone: (210) 554-5500 Facsimile: (210) 226-8395 E-mail: puffstickler@dykema.com asherwood@dykema.com About WFO, LLC WFO, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. W.D. Tex. Case No. 24-50824) on May 6, 2024. In the petition signed by Frank Shumate, president, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Judge Craig A. Gargotta oversees the case. The Debtor tapped James S. Wilkins, PC as counsel and Trinity River Advisors, LLC as accountant. WOODCREST CONDOMINIUMS: Case Summary & Seven Unsecured Creditors ---------------------------------------------------------------- Three affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- Woodcrest Condominiums V, LLC 25-00335 426, 428, 430, 432, 434, 436, 438, 440 & 442 Woodcrest Drive, SE Washington, DC 20032 Woodcrest Condominiums VII, LLC 25-00336 444, 446, 448, 450 & 452 Woodcrest Drive, SE Washington, DC 20032 Woodcrest Condominiums X, LLC 25-00338 462, 464, 466, 468, 470 & 472 Woodcrest Drive, SE Washington, DC 20032 Business Description: Woodcrest Condominiums V, LLC, Woodcrest Condominiums VII, LLC, and Woodcrest Condominiums X, LLC are single-purpose real estate entities based in Washington, D.C., formed to own and develop separate phases of the Woodcrest Condominiums project in the Congress Heights neighborhood. Each entity holds title to specific parcels on Woodcrest Drive, with Woodcrest Condominiums V controlling Building 500, Woodcrest Condominiums VII owning Building 700, and Woodcrest Condominiums X holding Building 1000. Chapter 11 Petition Date: August 15, 2025 Court: United States Bankruptcy Court District of Columbia Judge: Hon. Elizabeth L Gunn Debtors' Counsel: Douglas N. Gottron, Esq. MORRIS PALERM, LLC 804 Pershing Drive Suite 207 Silver Spring, MD 20910 Tel: (301) 424-6290 Email: dgottron@morrispalerm.com Each Debtor's Estimated Assets: $1 million to $10 million Each Debtor's Estimated Liabilities: $1 million to $10 million The petitions were signed by Roger Black as managing member. Full-text copies of the Debtors' list of seven unsecured creditors are available for free on PacerMonitor at: https://www.pacermonitor.com/view/VCTSGCI/Woodcrest_Condominiums_V_LLC__dcbke-25-00335__0002.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/6L2T4ZQ/Woodcrest_Condominiums_X_LLC__dcbke-25-00338__0002.0.pdf?mcid=tGE4TAMA Full-text copies of the petitions are available for free on PacerMonitor at: https://www.pacermonitor.com/view/VFZP2EY/Woodcrest_Condominiums_V_LLC__dcbke-25-00335__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/YZKA2AI/Woodcrest_Condominiums_VII_LLC__dcbke-25-00336__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/6NPMEUY/Woodcrest_Condominiums_X_LLC__dcbke-25-00338__0001.0.pdf?mcid=tGE4TAMA WORKSPORT LTD: Issues Corporate Update on Bitcoin Growth -------------------------------------------------------- Worksport Ltd. (NASDAQ: WKSP), a U.S. based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, provided a strategic update highlighting continued expansion across key operational and financial verticals. 1. Worksport Doubles Bitcoin Holdings Amid Treasury Strategy Success Following the launch of its corporate cryptocurrency strategy in December 2024, Worksport has officially doubled its Bitcoin (BTC) holdings. The Company notes that its existing digital asset portfolio--comprised of Bitcoin and XRP--has increased approximately 15% in value since the initial purchase, preserving management's current view that limited crypto exposure can serve as a long-term hedge against inflation and monetary devaluation. "Our core focus remains on growing a great American manufacturing business--but we also believe that forward-thinking treasury strategies are vital for preserving long-term value," said Steven Rossi, Chief Executive Officer of Worksport. "We're specifically bullish on Bitcoin's accretive nature, and increasing mainstream adoption offers corporations a unique, uncorrelated store of value. We're proud to continue our commitment to innovation in both our products and capital allocation practices." Worksport continues to emphasize that the Company's revenue trajectory, cash flow, and profitability initiatives are its primary focus, but modest cryptocurrency exposure aligns with its long-term risk mitigation philosophy. 2. Production Capacity Expansion with New High-Throughput Manufacturing Equipment Worksport is pleased to announce it has placed a deposit on the acquisition of a state-of-the-art custom manufacturing machine capable of doubling its current production output. The machine is designed to integrate with existing systems at the Company's ISO 9001:2015-certified West Seneca, NY facility. Favorable financing (0% for many months) and deferred shipping terms provide Worksport with flexibility to deploy the equipment based on sales acceleration and market demand. The Company believes its current infrastructure can support more than $50 million in annual output, with the new equipment expected to raise this capacity to over $100 million. Further, having an additional machine allows stable output during machine-maintained periods. "This is a calculated and strategic move to ensure we're ready to meet surging demand, especially as our dealer network and e-commerce volumes continue to scale. The financing terms we secured are considered to be a very favourable outcome for the Company" added Rossi. 3. Advancing Business Development: OEM Engagement and Branded Partnerships With rising sales, expanding gross margins, and increasing interest in the Company's clean-tech product line, Worksport has initiated conversations with two additional automotive original equipment manufacturers (OEMs). These outreach efforts build on existing traction, including a paid pilot program with a top-15 U.S. construction company for Worksport's COR and SOLIS products. While each functions independently, together they form a nano-grid system--delivering clean, portable power to job sites, campgrounds, and worksites alike." Management is optimistic that ongoing B2B engagement may lead to further commercial partnerships, recurring revenue channels, and increased brand visibility in future years for Worksport. 4. National Brand Visibility Efforts Underway Following social engagement from NASCAR driver and "Malcolm in the Middle" actor Frankie Muniz, Worksport is evaluating several brand amplification initiatives involving nationally recognized partners. These efforts are designed to deepen consumer trust and strengthen positioning in both traditional and clean-tech product verticals. The structure of these initiatives will be positioned to yield immediate and long-term net-benefits. Looking Ahead: Positioned for a Transformational Q3 and Q4 With record-breaking monthly production, accelerating sales growth, and a projected year-end revenue target of $20 million, Worksport remains focused on executing its strategic roadmap. The Company's upcoming launch of the COR portable energy system and SOLIS solar tonneau cover is projected for Fall 2025, is expected to unlock a new, high-margin product vertical targeting a $13 billion market. Further updates, including Q2 2025 earnings and a COR/SOLIS product roadmap, will be shared in the coming weeks. About Worksport Ltd. West Seneca, N.Y.-based Worksport Ltd., through its subsidiaries, designs, develops, manufactures, and owns intellectual property on a portfolio of tonneau cover, solar integration, portable power station, and NP (Non-Parasitic), Hydrogen-based green energy products and solutions for the automotive aftermarket accessories, power storage, residential heating, and electric vehicle-charging industries. Buffalo, N.Y.-based Lumsden & McCormick, LLP, the Company's auditor since 2022, issued a "going concern" qualification in its report dated Mar. 27, 2025, attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 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. The Company recorded a net loss of $16,163,789 for the year ended December 31, 2024, and has an accumulated deficit of $64,476,966 as of December 31, 2024. As of Dec. 31, 2024, the Company had $25,736,660 in total assets, $8,323,029 in total liabilities, and a total stockholders' equity of $17,413,631. XCEL BRANDS: Expects to Raise $2M in Public Offering Led by Maxim ----------------------------------------------------------------- Xcel Brands, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company entered into a Placement Agency Agreement with Maxim Group LLC, as lead placement agent, relating to a best efforts public offering of 2,181,818 shares of the Company's common stock, par value $0.001 per share at a price to the public of $1.10 per Share. Robert W. D'Loren, Chairman and Chief Executive Officer of the Company, purchased 124,200 Shares in the Offering, and Mark DiSanto, a Director of the Company, purchased 91,800 Shares in the Offering. The Offering was made pursuant to the Company's registration statement on Form S-1, as amended (File No. 333-288495), previously filed with the Securities and Exchange Commission on July 2, 2025, and declared effective on July 31, 2025, and a prospectus dated August 1, 2025. The closing of the Offering occurred on August 4, 2025. The aggregate net proceeds to the Company from the sale of the Securities and the Private Placement Shares, after deducting the placement agent fees and other estimated offering expenses payable by the Company, are expected to be approximately $2,000,000. The Company intends to use the net proceeds from the Offering for brand development and launch, working capital and general corporate purposes. Upon closing of the Offering, the Company issued the Placement Agent warrants as compensation to purchase up to 77,215 shares of Common Stock. The Placement Agent's Warrants are exercisable at a per share exercise price of $1.10, in whole or in part, during the four- and one-half-year period commencing 180 days from the commencement of sales of the Securities in the Offering. The Placement Agency Agreement contains customary representations, warranties and covenants made by the Company. It also provides for customary indemnification by each of the Company and the Placement Agent, severally and not jointly, for losses or damages arising out of or in connection with the Offering, including for liabilities under the Securities Act of 1933, as amended, other obligations of the parties and termination provisions. In addition, pursuant to the terms of the Placement Agency Agreement, each of the Company's directors and executive officers have entered into "lock-up" agreements with the Representative that generally prohibit, without the prior written consent of the Representative and subject to certain exceptions, the sale, transfer or other disposition of securities of the Company for a period of 90 days from the closing of the Offering. Further, pursuant to the terms of the Placement Agency Agreement, the Company has agreed for a period of 90 days from the closing of the Offering, subject to certain exceptions, not to sell any shares of its Common Stock, or any securities convertible into or exercisable or exchangeable into shares of its Common Stock, unless the Company obtains prior written consent of the Placement Agent. On August 1, 2025, the Company entered into a Securities Purchase Agreement in favor of each purchaser to purchase the 2,181,818 Shares sold in the Offering. Additionally, the Company entered into Subscription Agreements with D'Loren and DiSanto (collectively, the "Private Placement Investors") to purchase 82,159 and 60,883 shares, respectively, at a price of $1.38 per Private Placement Share. The purchase of the Private Placement Shares closed concurrently with the Offering. Upon closing of the sale of the Private Placement Shares, the Company issued to the Placement Agent, as compensation, warrants to purchase up to 3,567 shares of Common Stock, which warrants were identical to the Placement Agent's Warrants. The Private Placement Shares were sold without registration under the Act, in reliance upon the exemptions from registration provided under Section 4(2) of the Act in reliance upon the exemptions from registration provided under Section 4(2) of the Act and Regulation D promulgated under the Act. The Private Placement Investors represented in the Subscription Agreements, among other things, that such Private Placement Investor was acquiring the Private Placement Shares for investment for the Private Placement Investor's account and that the investor was an "accredited investor" within the meaning of Regulation D. About Xcel Brands New York, N.Y.-based Xcel Brands, Inc. is a media and consumer products company engaged in the design, licensing, marketing, live streaming, and social commerce sales of branded apparel, footwear, accessories, fine jewelry, home goods and other consumer products, and the acquisition of dynamic consumer lifestyle brands. Xcel was founded in 2011 with a vision to reimagine shopping, entertainment, and social media as social commerce. New York, N.Y.-based Marcum LLP, the Company's auditor since 2021, issued a "going concern" qualification in its report dated May 27, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 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. As of December 31, 2024, the Company had $53.8 million in total assets, $25.4 million in total liabilities, and a total stockholders' equity of $28.4 million. XWELL INC: Regains Compliance With Nasdaq's Minimum Bid Price Rule ------------------------------------------------------------------ XWELL, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company received a Letter from the Listing Qualifications Department of the Nasdaq Stock Market stating that from July 16, 2025, to August 6, 2025, the closing bid price of the Company's common shares had been at or greater than $1.00 per share. Accordingly, the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement"). As previously reported, on May 13, 2025, the Company received a letter from Nasdaq notifying the Company that its common shares failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days. Per the Letter, the matter is now closed. About XWELL New York, N.Y.-based XWELL, Inc. is a global wellness company operating multiple brands and focused on bringing restorative, regenerative and reinvigorating products and services to travelers. Morristown, N.J.-based Marcum LLP, the Company's former auditor, issued a "going concern" qualification in its report dated April 15, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 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. As of December 31, 2024, the Company had $25.4 million in total assets, $17.6 million in total liabilities, and a total equity of $7.7 million. ZOOZ POWER: Closes $5M Initial Private Placement in $180M Deal -------------------------------------------------------------- ZOOZ Power Ltd. announced the closing of the initial private placement transaction in the amount of $5 million (prior to deducting offering expenses) as part of a larger $180 million (in the aggregate) private placement with accredited institutional investors, announced on July 29, 2025. ZOOZ intends to use a portion of the net proceeds from the Initial Private Placement to repay a portion of its outstanding promissory notes and the remainder for general corporate purposes. Pending shareholder approval and the closing of the subsequent part of the Private Placement, ZOOZ intends to allocate approximately 95% of the net proceeds from the Private Placement toward launching its Bitcoin treasury strategy, following the repayment of its outstanding promissory notes. The remaining proceeds will be used for general corporate purposes. The Initial Private Placement is comprised of approximately 2.5 million of its ordinary shares and pre-funded warrants at a purchase price of $2.00 per share (or pre-funded warrant). Each ordinary share or pre-funded warrant was issued together with a warrant to purchase two ordinary shares at an exercise price of $3.06 per share. "We are pleased to have successfully closed the Initial Private Placement as part of this larger Private Placement financing, which represents an important first step in executing our new Bitcoin reserve strategy," said Jordan Fried, Chief Executive Officer of ZOOZ. "This initial capital infusion demonstrates investor confidence in our vision, and we look forward to securing shareholder approval for the full $180 million Private Placement. With this support, we intend to build a strategic Bitcoin reserve aimed to enhance long-term shareholder value and position the Company for a new era of financial strength and innovation." About ZOOZ Power Headquartered in St. Lod, Israel, ZOOZ is a provider of flywheel-based power boosting and energy management solutions, enabling the widespread deployment of ultra-fast charging infrastructure for electric vehicles (EVs) while overcoming existing grid limitations. ZOOZ pioneers its unique flywheel-based power-boosting technology, enabling efficient utilization and power management of a power-limited grid at an EV charging site. Its Flywheel technology allows high-performance, reliable, and cost-effective ultra-fast charging infrastructure. ZOOZ Power's sustainable, power-boosting solutions are built with longevity and the environment in mind, helping its customers and partners accelerate the deployment of fast-charging infrastructure, thus facilitating improved utilization rates, better efficiency, greater flexibility, and faster revenues and profitability growth. ZOOZ is publicly traded on NASDAQ and TASE under the ticker ZOOZ. Jerusalem, Israel-based Kesselman & Kesselman, the Company's auditor since 2018, issued a "going concern" qualification in its report dated March 7, 2025, citing that the Company has net losses and has generated negative cash flows from operating activities for the years ended Dec. 31, 2024, 2023 and 2022. These conditions create significant uncertainty regarding the Company's ability to continue as a going concern. [] SEDA Experts Appoints Mark B. Cohen As Bankruptcy Expert ----------------------------------------------------------- SEDA Experts LLC, an expert witness firm providing financial expert witness services, announced on Aug. 13, 2025, that Mark B. Cohen joined the firm as Managing Director. "Mark has extensive real-world experience in the fields of bankruptcy and restructuring matters," said Peter Selman, Managing Partner of SEDA Experts. Mark B. Cohen brings nearly four decades of experience in restructuring and distressed investing, spanning Investment Banking and Private Credit. Throughout his career, he has led complex restructurings and delivered high-return capital solutions for sponsors, corporates, and institutional investors. Mark also provides expert testimony in the fields of bankruptcy and restructuring disputes. He is the Founder and Managing Member of Bradley Credit Partners LLC, advising financial institutions and alternative investment managers on structuring and executing private credit transactions and joint ventures. His work includes designing tailored financing structures, overseeing modeling and documentation, managing competitive partner-selection processes, and negotiating terms to optimize economic outcomes. Previously, Mr. Cohen was Managing Director at RBC Capital Markets, where he launched a new platform to originate bank loans and Private Credit for a broad client base, including financial sponsors, corporate issuers, and commercial real estate. He led high-profile transactions across acquisition financings, opportunistic credit, and restructuring-related capital raises, including DIPS and Exit Financings in bankruptcy. Before joining RBC, he spent almost two decades at Deutsche Bank leading Restructuring and Workout activities, as well as Leveraged Finance, originating and arranging large-scale financings, guiding companies through operational and financial restructurings, and managing multi-billion-dollar portfolios of non-performing assets. As Head of Workout, he also managed quarterly portfolio reviews with credit risk management, and directed the dialogue with OCC and FDIC regulators. Earlier in his career, at UBS he was Executive Director in the Non-Performing Loans and Workout Group, managing over $2 billion in distressed debt and real estate investments across sectors such as utilities, hospitality, and healthcare. Mr. Cohen holds a double major in Economics and History from the University of Virginia and pursued MBA studies at George Washington University. About SEDA Experts LLC SEDA is a leading expert witness firm specializing in financial services. We support international law firms by offering the highest level of expertise across the financial industry and providing access to the most influential financial services industry leaders. We provide superior independent advice, data analytics, valuation, and elite expert reports and testimony services to law firms, regulators, and leading financial institutions. ********* Monday's edition of the TCR delivers a list of indicative prices for bond issues that reportedly trade well below par. Prices are obtained by TCR editors from a variety of outside sources during the prior week we think are reliable. Those sources may not, however, be complete or accurate. The Monday Bond Pricing table is compiled on the Friday prior to publication. Prices reported are not intended to reflect actual trades. Prices for actual trades are probably different. Our objective is to share information, not make markets in publicly traded securities. Nothing in the TCR constitutes an offer or solicitation to buy or sell any security of any kind. It is likely that some entity affiliated with a TCR editor holds some position in the issuers public debt and equity securities about which we report. Each Tuesday edition of the TCR contains a list of companies with insolvent balance sheets whose shares trade higher than $3 per share in public markets. At first glance, this list may look like the definitive compilation of stocks that are ideal to sell short. Don't be fooled. 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