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251016.mbx T R O U B L E D C O M P A N Y R E P O R T E R Thursday, October 16, 2025, Vol. 29, No. 288 Headlines 1027 FANTASY: Kathleen DiSanto Named Subchapter V Trustee 210 8TH ST: Plan Exclusivity Period Extended to February 13, 2026 3 BOYS EXPRESS: Natasha Songonuga Named Subchapter V Trustee 69 SANDS ST: Seeks to Tap Gregory A. Flood as Bankruptcy Counsel A K EXPRESS: Natasha Songonuga Named Subchapter V Trustee A.G. NEW YORK: Case Summary & 15 Unsecured Creditors ALGORHYTHM HOLDINGS: Appoints Scott Thorn, Kapil Gupta to Board ALGORHYTHM HOLDINGS: Ex-CRO Bernardo Melo Remains as Board Member ALIEN TECHNOLOGIES: Gets OK to Use Cash Collateral Until Nov. 3 AMERICAN UNAGI: Seeks to Tap Business Broker & Transaction Advisor ANTIX HOLDINGS: Completes Ticketbash Asset Purchase for $469,500 APPLIED DNA: Expects $2.9M Annual Savings From Restructuring Plan APPLIED DNA: Now Trading on Nasdaq Under New Ticker BNBX ARTIFICIAL INTELLIGENCE: Posts Over $750,000 in Unaudited Q2 Profit AURORA MOBILE: Seeks to Tap Thompson Burton as Bankruptcy Counsel AYR WELLNESS: Article 9 Foreclosure Sale Set for November 10 AZ 400 HERKIMER: Voluntary Chapter 11 Case Summary B. RILEY FINANCIAL: Receives Nasdaq Notice Over Delayed 10-Q's BEELINE HOLDINGS: Beeline Loans Gets $5M Warehouse Line of Credit BERRY CAPITAL: Case Summary & Top Unsecured Creditors BEYOND MEAT: Secures 96.92% of Notes in Early Tender Phase BOY SCOUTS: Opponents Take Bankruptcy Plan Fight to Supreme Court BREWSTER PLACE: Fitch Affirms 'BB+' IDR, Outlook Stable BRIGHT MOUNTAIN: Amends Credit Agreement With Centre Lane BROOKLYN KEBAB: Seeks to Tap Rosen Tsionis & Pizzo as Counsel CACHCOPA LLC: Court OKs Interim Use of Cash Collateral CACHCOPA LLC: Seeks to Tap Van Horn Law Group as Bankruptcy Counsel CAIRO EXPRESS: Natasha Songonuga Named Subchapter V Trustee CBDMD INC: Nets $1.5 Million From Series B Preferred Stock Offering CELSIUS NETWORK: Tether Pays $299.5M in Bankruptcy Settlement CENTERFIELD MEDIA: S&P Assigns Prelim 'B-' Rating on Secured Notes CENTURY DESIGN: Court to Hold Cash Collateral Hearing Today CHICAGO SMILES: Court Extends Cash Collateral Access to Nov. 22 CLAROS MORTGAGE: CMTG JNP Increases JPMorgan Facility to $1.1-Bil. CLAROS MORTGAGE: CMTG JP Reduces JPMorgan Facility to $1.9 Billion CMC ADVERTISING: Court Extends Cash Collateral Access to Nov. 3 COMPLEMAR PARTNERS: Gets OK to Tap Bond Schoeneck & King as Counsel CONROE LOCAL: S&P Cuts Second-Lien Revenue Bonds Rating to 'CCC-' COSMOS HEALTH: Theodoros Karkantzos Joins Board CREATIVE STARS: Court Extends Cash Collateral Access to Oct. 29 DARE BIOSCIENCE: Law Custodial Holds 15.9% Equity Stake DEPLOYED SOLDIERS: Court Extends Cash Collateral Access to Nov. 30 DEVILS RIVER: Court Rejects Chapter 11 Reorganization Plan DIGITAL ALLY: Yield Point, Yisroel Kluger Hold 9.9% Stake DIOCESE OF ALBANY: Seeks to Tap The Appraisal Company as Appraiser DIOCESE OF SYRACUSE: Gets Court OK for 9 Insurance Settlements DSR LAND: Section 341(a) Meeting of Creditors on November 13 EASTMAN KODAK: S&P Alters Outlook to Negative, Affirms 'CCC+' ICR EL DORADO: Seeks to Sell Vehicles at Auction EL-AMAN EXPRESS: Natasha Songonuga Named Subchapter V Trustee ELITE EQUIPMENT: Committee Seeks to Hire Dykema Gossett as Counsel ELITE EQUIPMENT: Committee Taps Billstein Monson & Small as Counsel ENDO INT'L: Court Strikes Certain Items from Claimant's Designation EQUILATERAL INVESTMENT: John Whaley Named Subchapter V Trustee ESCALON MEDICAL: Newton Charles Carter No Longer Holds Shares EVENTIDE CREDIT: Court OKs Appointment of Mark Andrews as Trustee EVERSTREAM SOLUTIONS: Gets Court OK to Solicit Ch. 11 Plan Vote EVERSTREAM SOLUTIONS: OpCo Unsecureds Will Get 5.4% to 12.2% FINGERMOTION INC: Acquires DaGe Platform IP for 1.5M Shares FIRST BRANDS: Names Charles Moore as Interim CEO Amid Chapter 11 FISCHER AG: Court Gets Final OK to Use Cash Collateral GAFI MIAMI: Taps Goldberg Weprin Finkel Goldstein as Legal Counsel GBOGBARA INC: Gets Interim OK to Use Cash Collateral GBOGBARA INC: Mark Shapiro Named Subchapter V Trustee GEC TRANSPORT: Court OKs Cash Collateral Access, DIP Loan From JDF GEC TRANSPORT: Gets Interim Approval to Use Cash Collateral GENERAL MOTORS: New GM Not Liable for Prepetition Claims GENERATIONS ON 1ST: Seeks to Use Cash Collateral GIROIR HOLDINGS: Frederick Bunol Named Subchapter V Trustee GLOBAL CONCESSIONS: Seeks to Extend Exclusivity to Jan. 27, 2026 GRACE AND FAVOR: Claims to be Paid from Rental Income GRANT ANTIQUES: Gets Final OK to Use Cash Collateral GREEN SAPPHIRE: Hires Anthony J. Peraica & Associates as Counsel HARLING INC: Court Extends Cash Collateral Access to Oct. 22 HIGHER GROUND: Unsecureds Will Get 1.8% to 10.1% of Claims HINDS COUNTY RAYMOND: Control Shifts to Federal Receiver HURST OPERATIONS: Section 341(a) Meeting of Creditors on Nov. 12 IF YOU PLEASE: Gets Interim OK to Use Cash Collateral Until Oct. 31 INTELLIGENT PAYMENT: Seeks to Tap Sobers Law as Bankruptcy Counsel JACKSON HOSPITAL: Bankruptcy Hearing Shows Future in Doubt JET EXPRESS: Natasha Songonuga Named Subchapter V Trustee JJ BADA: Seeks Approval to Hire Auction Advisors as Auctioneer JJTA11 REAL: Case Summary & One Unsecured Creditor KC 11: To Sell Tarzana Property to Tomer On for $1.6MM KOLAY FLOORING: Seeks to Extend Plan Exclusivity to Feb. 27, 2026 KOSMOS ENERGY: S&P Affirms 'CCC+' ICR on Partial Refinancing KX 84 LLC: Seeks Subchapter V Bankruptcy in Texas LA NOTTE VENTURES: Court Extends Cash Collateral Access to Nov. 19 LIDO 10 LLC: Unsecureds to be Paid in Full over 60 Months LOS PADRINOS: Court Rejects Proposed Receivership LUXURY TRANSPORTATION: Case Summary & 15 Unsecured Creditors M.A.M. EXPRESS: Natasha Songonuga Named Subchapter V Trustee MARKUS CORP: Court Extends Cash Collateral Access to Oct. 31 MODIVCARE INC: Amends Plan to Include Sub. Unsecured Notes Claims MOH EXPRESS: Natasha Songonuga Named Subchapter V Trustee MUNDO EDITORIAL: Hires HDC Tax Services as Financial Consultant MYELLA INC: Gets Extension to Access Cash Collateral MYFOREXFUNDS: Ontario Court Scales Back Receivership Orders MYSTICAL STARS: Files Amendment to Disclosure Statement NEED SPACE TABB: Voluntary Chapter 11 Case Summary NEUROONE MEDICAL: Expects Total Product Revenue of $9.1M in FY2025 NIBA DESIGNS: Court Extends Cash Collateral Access to Oct. 22 NOISA INC: Seeks Subchapter V Bankruptcy in Pennsylvania OBJECT & SUBJECT: Gets Final OK to Use Cash Collateral OLD SCHOOL: Unsecureds Will Get 80% to 90% of Claims in Plan OLIVER PARK: Gets Interim OK to Use Cash Collateral Until Oct. 22 PARENT SUPPORT: Seeks to Tap Indeglia & Associates as Counsel PARTY CITY: Court OKs $6MM for AlixPartners' Ch. 11 Advisory Role PERASO INC: Reports 7.58M Outstanding Common Shares as of Oct. 3 PERFORMANCE MOBILE: Amends Several Secured Claims Pay PG&E CORP: Court Tosses Abrams Wildfire Adversary Proceeding PLATINUM HEIGHTS: Unsecureds Will Get 25% of Claims in Plan POLAR POWER: Inks $2.38M ATM Sales Agreement With ThinkEquity POWIN LLC: Creditors to Get Proceeds From Liquidation PREHIRED LLC: Owner Must Face State of Washington's WCPA Case PRIME CORE: Trust Pursues $93.6MM Recovery After Bankruptcy PROSPECT MEDICAL: Will Sell Pennsylvania Hospitals for $13MM QUANTUM CORP: Replaces Grant Thornton With CohnReznick as Auditor RAZZOO'S INC: US Trustee Appoints 3-Member Creditors' Committee RED RIVER: Challenges Brown Rudnick's 'Excessive' Fee Request REIDS REALESTATE: Cameron McCord Named Subchapter V Trustee RONBON LLC: Unsecureds Owed $5.7M Will Get 10% over 5 Years RYVYL INC: Appoints Tod Browndorf to Board of Directors SANUWAVE HEALTH: COO Holds 37 Common Shares, 25,000 Stock Options SCARFE WHISPERS: Gets Interim OK to Use Cash Collateral SHILO INN: Case Summary & 16 Unsecured Creditors SIDE YARD PUBLIC: Gets Interim OK to Use Cash Collateral SIDE YARD: Jean Goddard of NGS LLP Named Subchapter V Trustee SIGNATURE YHM: Seeks to Tap Force Ten Partners as Financial Advisor SINGH BROS: Plan Exclusivity Period Extended to November 11 SIYATA MOBILE: Completes CGI Merger, Becomes Core AI Holdings Inc. SKY ROCK: Frances Smith Named Subchapter V Trustee SMART INVESTMENT: Section 341(a) Meeting of Creditors on Nov. 13 SOLUNA HOLDINGS: Regains Nasdaq Compliance on Minimum Bid Price SRX HEALTH: Joshua Epstein Joins Board of Directors SRZ MASTER TENANT: Taps McGlinchey Stafford as Special Counsel STOLI GROUP: Court Extends Cash Collateral Access to Oct. 24 STRAWBERRY HILL: Gets Final OK to Use Cash Collateral SUNNOVA ENERGY: Puerto Rico Solar Dealers Object to Bankruptcy Plan SUNNY EXPRESS: Natasha Songonuga Named Subchapter V Trustee TACTICAL TOWING: Steven Wallace Named Subchapter V Trustee TARO INVESTMENT: Court Orders Auction of Brick House Farms TENNESSEE CREDIT: Seeks to Tap Sweat Law Firm as Special Counsel TERAWULF INC: S&P Assigns 'BB-' ICR, Outlook Positive TJ TRUCKING: Court Extends Cash Collateral Access to Nov. 14 TRICOLOR AUTO: Court Authorizes Vervent as Successor Servicer TRINSEO PLC: Moves to Restructure MMA Operations in Italy TZADIK SIOUX: Claims to be Paid from Available Cash & Sale Proceeds UNITED PROPERTY: Seeks to Tap Grobstein Teeple as Financial Advisor UNIVERSAL DESIGN: Gets Extension to Access Cash Collateral USA CRICKET: Mark Dennis of SL Biggs Named Subchapter V Trustee USA STAFFING: Amends Unsecured Claims Pay Details VAI CONSTRUCTION: Unsecureds Will Get 13% of Claims over 60 Months VERIJET INC: Assets Enter Liquidation Following Chapter 7 Filing WEATHERSTONE LLC: Section 341(a) Meeting of Creditors on Nov. 10 WHITE WILSON: Gets Interim OK to Use Cash Collateral WHITESTONE CROSSING: Plan Exclusivity Period Extended to Nov. 10 WILDFLOWER INVESTMENT: Hires David Nyle Chandler as Legal Counsel WINDTREE THERAPEUTICS: WINT Settles $750,000 Earnest Money Dispute WOHALI LAND: Trustee Hires Ampleo Turnaround as Consultant WOMEN'S OB-GYN: Kimberly Ross Clayson Named Subchapter V Trustee WORLDWIDE MACHINERY: Gets Extension to Access Cash Collateral YIELD10 BIOSCIENCE: Gets Court OK for Chapter 11 Liquidation Plan ZAHAV VENTURES: Court OKs Conditional Use of Cash Collateral ZOOZ POWER: Expands Bitcoin Treasury to 854 BTC Worth Over $100M [^] Recent Small-Dollar & Individual Chapter 11 Filings ********* 1027 FANTASY: Kathleen DiSanto Named Subchapter V Trustee --------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Kathleen DiSanto, Esq., at Bush Ross, P.A., as Subchapter V trustee for 1027 Fantasy, LLC. Ms. DiSanto will be paid an hourly fee of $350 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. DiSanto declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Kathleen L. DiSanto, Esq. Bush Ross, P.A. P.O. Box 3913 Tampa, FL 33601-3913 Phone: (813) 224-9255 Fax: (813) 223-9620 disanto.trustee@bushross.com About 1027 Fantasy LLC 1027 Fantasy, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-07348) on October 6, 2025, listing between $10 million and $50 million in assets and between $1 million and $10 million in liabilities. Judge Catherine Peek Mcewen presides over the case. 210 8TH ST: Plan Exclusivity Period Extended to February 13, 2026 ----------------------------------------------------------------- Judge Michael E. Romero of the U.S. Bankruptcy Court for the District of Colorado extended 210 8th St LLC's exclusive periods to file a plan of reorganization to February 13, 2026. As shared by Troubled Company Reporter, the Debtor explains that cause exists to extend the 180-day exclusivity period in this case. The following is the Debtor's analysis of the applicable factors. * The size and complexity of the case and (ii) the necessity of sufficient time to prepare adequate information: The Debtor is actively negotiating a sale transaction designed to pay Academy and the SBA in full by December 19, 2025. The complexity of those negotiations and financing arrangements requires additional time beyond the current exclusivity deadline. * The Debtor has proceeded in good faith throughout this case. It filed a Plan and Disclosure Statement, has made required adequate protection payments, and has negotiated stipulations with secured creditors that protect their interests while allowing the Debtor time to reorganize. * The Debtor does not seek an extension to pressure creditors. To the contrary, the requested extension aligns with the stipulation negotiated with Academy and the SBA and is necessary to allow contingencies, such as refinancing, to resolve in the ordinary course. 210 8th St, LLC is represented by: David J. Warner, Esq. Wadsworth Garber Warner Conrardy, P.C. 2580 W. Main St., Ste. 200 Littleton, CO 80120 Telephone: (303) 296-1999 Email: dwarner@wgwc-law.com About 210 8th St LLC 210 8th St, LLC is a real estate debtor with a single asset, as described in 11 U.S.C. Section 101(51B). The Debtor holds full ownership of the property situated at 210 8th St., Colorado Springs, Colo., which is appraised at a market value of $1.4 million. 210 8th St sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case No. 25-11653) on March 28, 2025. In its petition, the Debtor reported total assets of $1,455,000 and total liabilities of $1,453,420. Judge Michael E. Romero handles the case. The Debtor is represented by David J. Warner, Esq., at Wadsworth Garber Warner Conrardy, P.C. Academy Bank, N.A., as lender, is represented by: Lucas L. Schneider, Esq. Stinson LLP 1144 15th Street Suite 2400 Denver, CO 80202 Telephone: (303) 376-8414 lucas.schneider@stinson.com 3 BOYS EXPRESS: Natasha Songonuga Named Subchapter V Trustee ------------------------------------------------------------ The U.S. Trustee for Regions 3 and 9 appointed Natasha Songonuga, Esq., at VTrustee, LLC as Subchapter V trustee for 3 Boys Express, LLC. Ms. Songonuga will be paid an hourly fee of $450 for her services as Subchapter V trustee and will receive reimbursement for work related expenses incurred. Ms. Songonuga declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Natasha Songonuga, Esq. VTrustee LLC PO Box 841 Wilmington, DE 19899 Email: Nsongonuga@VTrusteellc.com About 3 Boys Express LLC 3 Boys Express, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-20170) on September 29, 2025, with $500,001 to $1 million in assets and $100,001 to $500,000 in liabilities. Judge Mark Edward Hall presides over the case. Jenee K. Ciccarelli, Esq., at Wenarsky and Goldstein, LLC represents the Debtor as legal counsel. 69 SANDS ST: Seeks to Tap Gregory A. Flood as Bankruptcy Counsel ---------------------------------------------------------------- 69 Sands St LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ The Law Office of Gregory A. Flood as counsel. The firm's services include: (a) advise the Debtor with respect to its powers and duties in the continued management of its property and affairs; (b) negotiate with creditors of the Debtor and work out a plan of reorganization and take the necessary legal steps in order to effectuate such a plan; (c) prepare on behalf of the Debtor all necessary legal papers that seek protection from its creditors under Chapter 11 of the Bankruptcy Code; (d) appear before the Bankruptcy Court to protect the interest of the Debtor and to represent it in all matters pending before the court; (e) represent the Debtor in connection with obtaining post-petition financing; (f) take any necessary action to obtain approval of a disclosure statement and confirmation of a plan of reorganization; and (g) perform all other legal services of the Debtor which may be necessary for the preservation of its estate and to promote its best interest, its creditors and its estate. Gregory Flood, Esq., the primary attorney in this representation, will be paid at his hourly rate of $300. The firm received a total retainer of $4,000, including the filing fee, from the Debtor. Mr. Flood 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: Gregory A. Flood, Esq. The Law Office of Gregory A. Flood 900 South Ave., Ste. 300 Staten Island, NY 10314 Telephone: (718) 568-3678 About 69 Sands St LLC 69 Sands St LLC filed a Chapter 11 bankruptcy petition (Bankr. E.D.N.Y. Case No. 25-44756) on Sept. 30, 2025, disclosing up to $1 million in assets and up to $500,000 in liabilities. Judge Elizabeth S. Stong oversees the case. The Debtor is represented by The Law Office of Gregory A. Flood. A K EXPRESS: Natasha Songonuga Named Subchapter V Trustee --------------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Natasha Songonuga, Esq., at VTrustee, LLC as Subchapter V trustee for A K Express, LLC. Ms. Songonuga will be paid an hourly fee of $450 for her services as Subchapter V trustee and will receive reimbursement for work related expenses incurred. Ms. Songonuga declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Natasha Songonuga, Esq. VTrustee LLC PO Box 841 Wilmington, DE 19899 Email: Nsongonuga@VTrusteellc.com About A K Express LLC A K Express, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-20171) on September 29, 2025, with $50,001 to $100,000 in assets and $100,001 to $500,000 in liabilities. Judge Mark Edward Hall presides over the case. Jenee K. Ciccarelli, Esq., at Wenarsky and Goldstein, LLC represents the Debtor as legal counsel. A.G. NEW YORK: Case Summary & 15 Unsecured Creditors ---------------------------------------------------- Debtor: A.G. New York Transportation, Inc 7707 S Orange Avenue Orlando, FL 32859 Business Description: A.G. New York Transportation Inc. offers luxury transportation services in Orlando, Florida, including airport transfers, wedding and corporate travel, and group charters. The Company holds authorization for both intrastate and interstate passenger transport. Chapter 11 Petition Date: October 13, 2025 Court: United States Bankruptcy Court Middle District of Florida Case No.: 25-06549 Judge: Hon. Tiffany P. Geyer Debtor's Counsel: Daniel A. Velasquez, Esq. LATHAM LUNA EDEN & BEAUDINE LLP 201 S. Orange Avenue Suite 1400 Orlando, FL 32801 Tel: (407) 481-5800 Fax: (407) 481-5801 Email: dvelasquez@lathamluna.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Aleksey Golovnitskiy as president. 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/M2GWEIQ/AG_New_York_Transportation_Inc__flmbke-25-06549__0001.0.pdf?mcid=tGE4TAMA ALGORHYTHM HOLDINGS: Appoints Scott Thorn, Kapil Gupta to Board --------------------------------------------------------------- Algorhythm Holdings, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that on October 6, 2025, Scott Thorn and Kapil Gupta were appointed to serve as members of the Board of Directors. Messrs. Thorn and Gupta will serve as members of the Board until the next annual meeting of the Company's stockholders, and until their successors are elected and qualified or until their earlier death, resignation or removal. In addition, the Board appointed Mr. Thorn to serve as a member of the audit committee and compensation committee, and appointed Mr. Gupta to serve as a member of the audit committee and nominating and corporate governance committee. Scott Thorn, age 46, has served as the President and Chief Operating Officer of InvitedHome, a leading luxury hospitality and real estate services company operating in premier U.S. ski destinations, since October 2024. Prior to that, he served as the Co-Founder and Chief Strategy Officer of Open Book Extracts, a cGMP-certified manufacturer of premium federally legal hemp-derived cannabinoid ingredients and wellness products, from February 2019 to October 2024. Earlier in his career, Scott served as a Managing Director of Douglas Wilson Companies, a leading provider of specialized business, receivership, and real estate services. The Board concluded that Mr. Thorn is qualified to serve on the Board because of his substantial experience as a strategic thought leader executing aggressive business and revenue growth strategies for early-stage, high-growth companies. Kapil Gupta, age 58, is a seasoned global technology and business leader with more than 25 years of experience driving innovation, operational excellence, and large-scale digital transformation across the public and private sectors. He has served as the Service Line Leader for Application Operations – Public Markets (US) at IBM, a global technology innovator, since April 2025. He has also served as a Project Executive for California's Medicaid Program since May 2017. Earlier in his career, Mr. Gupta held senior leadership roles at Cambridge Solutions, a leading provider of software solutions for supply chain, purchasing, and performance management, and Talisma Corporation, a leading provider of a digital customer engagement platform, and served as a Manager at KPMG LLP, a leading global provider of audit, tax, and advisory services. The Board concluded that Mr. Gupta is qualified to serve on the Board because of his extensive experience as a global technology leader offering deep technical expertise and strategic business acumen. In accordance with the Company's compensation package for non-employee directors, Messrs. Thorn and Gupta are eligible to participate in the Company's standard compensation arrangements for non-employee directors which consists of cash and equity compensation for service on the Board. There are no arrangements or understandings between Messrs. Thorn and Gupta and any other persons pursuant to which Messrs. Thorn and Gupta were appointed directors of the Company, and there are no family relationships between Messrs. Thorn and Gupta and any director or executive officer of the Company. The Company will enter into its standard form of indemnification agreement with Messrs. Thorn and Gupta, a copy of which is filed as Exhibit 10.1 to the Company's Form 8-K filed on May 27, 2022. Other than the indemnification agreement, Messrs. Thorn and Gupta have no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K promulgated under the Securities Exchange Act of 1934, as amended, nor are any such transactions currently proposed. Resignation of Mathieu Peloquin from the Board of Directors On October 6, 2025, Mathieu Peloquin, a member of the Board, notified the Company of his decision to resign from the Board effective that same date. Mr. Peloquin's resignation was not the result of any disagreements with the Company regarding any matters related to its operations, policies, practices, or otherwise. 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 Aril 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. ALGORHYTHM HOLDINGS: Ex-CRO Bernardo Melo Remains as Board Member ----------------------------------------------------------------- Algorhythm Holdings, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that Bernardo Melo was terminated as Chief Revenue Officer of the Company on August 21, 2025. Mr. Melo's termination as Chief Revenue Officer was not the result of any disagreements with the Company regarding any matters related to its operations, policies, practices, or otherwise. Mr. Melo will continue to serve as a member of the Board. 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 Aril 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 ALIEN TECHNOLOGIES: Gets OK to Use Cash Collateral Until Nov. 3 --------------------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida, Orlando Division, granted Alien Technologies Corporation another extension to use cash collateral. The Debtor's cash collateral is comprised of cash on hand and funds to be received through continued payments from customers. The third interim order signed by Judge Grace Robson authorized the Debtor to use cash collateral through November 3 to pay the amounts expressly authorized by the court, including payments to the U.S. trustee for quarterly fees; the expenses set forth in the budget, plus an amount not to exceed 10% for each line item; and additional amounts expressly approved in writing by secured creditors Truist Bank and the U.S. Small Business Administration. The Debtor projects total operational expenses of $1,032,989.66 for the period from August 1 to January 31, 2026. As protection, Truist Bank and the SBA will be granted post-petition replacement liens, with the same validity, priority and extent as their pre-bankruptcy liens. The Debtor must maintain all required insurance coverage as further protection. A continued hearing is set for November 3. Truist Bank is represented by: Kylie A. Riordan, Esq. BURR & FORMAN LLP 200 S. Orange Avenue, Suite 800 Orlando, FL 32801 Phone: (407) 540-6600 Facsimile: (407) 540-6601 kriordan@burr.com About Alien Technologies Corporation Alien Technologies Corporation designs and sells hardtop removal tools and accessories for Jeep Wrangler and Ford Bronco vehicles under the TopLift Pros brand. Alien Technologies Corporation sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-03827) on June 20, 2025. In its petition, the Debtor reported estimated assets between $100,000 and $500,000 and estimated liabilities between $1 million and $10 million. Judge Grace E. Robson handles the case. The Debtor is represented by Jesus Lozano, Esq., at Nardella & Nardella, PLLC. AMERICAN UNAGI: Seeks to Tap Business Broker & Transaction Advisor ------------------------------------------------------------------ American Unagi, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Maine to employ Corporate Finance Associates New England, LLC and Corporate Finance Securities, Inc. as business broker and transaction advisor. The firm will provide these services: (a) conduct such investigation and analysis as the firms consider appropriate with respect to the business and operations of the Debtor and of the industry and markets in which it serves; (b) develop a list of potential buyers, investors, and other parties, including those provided by the Debtor; (c) prepare an up-to-date Confidential Information Memorandum ("CIM") and other evaluation material as is customary; (d) contact buyers via written or email communication, telephone calls and/or in person, and provide the CIM and other materials to those potential buyers; (e) solicit written offers from buyers outlining a range of value, terms of a sale or investment, sources of funding, and timeline for completion of a transaction; (f) when appropriate, arrange and participate in visits to the Debtor's headquarters and operating facilities by selected buyers, and make such introductions and perform such services as the firms believe desirable to develop buyers' interest in the business; (g) assist the Debtor in negotiations with buyers; (h) assist the Debtor in analyzing transaction proposals as received; (i) assist the Debtor in executing a "Letter of Intent" that outlines the specific value and terms of a transaction; (j) assist the Debtor in managing the due diligence process; and (k) assist the Debtor in the negotiation and execution of the final definitive agreements and in the closing of the transaction. The firm will be paid at these fees: (a) a work fee of $30,000; (b) reimbursement for expenses incurred; and (c) a success fee of 5.25 percent of the transaction value. Peter Moore, managing director at Corporate Finance Securities, 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: Peter Moore Corporate Finance Securities, Inc. 75 Market St. Portland, ME 04101 Telephone: (20&0 772-4496 About American Unagi Inc. American Unagi Inc., located in Waldoboro, Maine, operates a land-based aquaculture facility specializing in the sustainable farming of American eels. The Company raises glass eels sourced from licensed Maine harvesters in recirculating aquaculture systems and produces products including smoked, butterflied, and tinned eel. It serves both direct consumers through its online store and select seafood retailers and is part of the aquaculture and seafood production industry. American Unagi Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Me. Case No. 25-10180) on September 29, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Michael A. Fagone handles the case. The Debtor is represented by D. Sam Anderson, Esq. of Bernstein Shur Sawyer & Nelson, P.A. ANTIX HOLDINGS: Completes Ticketbash Asset Purchase for $469,500 ---------------------------------------------------------------- As previously disclosed, on or about April 25, 2025, AnTix Holdings, Inc., formerly known as Innovative MedTech, Inc. entered into an Asset Purchase Agreement, pursuant to which a newly formed subsidiary of the Company would purchase assets of Grand Concierge LLC, d/b/a Ticketbash, a New York limited liability company associated with retail and wholesale event ticket pricing, and the development of software and artificial intelligence related to the ticket business, in consideration of: (i) the issuance by the Company to Ticketbash's owners of Company equity consisting of 20,000,000 shares of common stock and 1,151,500 shares of Series A Convertible Preferred Stock (which preferred stock is convertible into 115,150,000 shares of common stock) and additional shares as necessary to ensure that the shares issued constitute 60% of the total number of fully diluted shares of the Company, (ii) the future payment of two million dollars ($2,000,000) to Ticketbash based on revenue and income milestones to be determined by the parties in the future (the "Additional Cash Purchase Price"), and (iii) the future payment of percentage royalties to Ticketbash based on aggregate revenues generated by the New Subsidiary as follows: * 2% of revenue up to $15,000,000, 4% of revenue from $15,000,000-$25,000,000, and * 5% of revenue in excess of $25,000,000. Under the Asset Purchase Agreement, the Company was also required to invest an additional $1,000,000 in development of the Tickebash Assets. On May 30, 2025, the Company and Ticketbash entered into Amendment No. 1 to Asset Purchase Agreement, providing that: (i) instead of making the Additional Cash Investment, the Company would pay $1,000,000 to Ticketbash within 10 months (the "Initial Cash Payment"), and upon completion of Initial Cash Payment, the Assets will be immediately transferred to the Company; (ii) the Equity Purchase Price would instead consist of a number of shares of Company preferred stock having voting rights equal to 60% of the total voting rights of the Company, and which shares of preferred stock shall have no economic rights, except that such shares shall automatically convert into 60% of the total number of outstanding shares of Common Stock on a fully diluted basis (following issuance of conversion shares) calculated as of June 1, 2025, upon the payment by the Company of the Initial Cash Payment; (iii) the Additional Cash Purchase Price shall be paid over a 36-month period based on based on revenue and income milestones to be determined by the parties in the future. On October 3, 3025, the Company and Ticketbash entered into Amendment No. 2 to Asset Purchase Agreement, restructuring the Purchase and providing that: (i) the Company would be acquiring in the Purchase only a copy of and a non-exclusive license and rights to use Ticketbash's complete source code (including build scripts, repositories, libraries, and dependencies), object code, and all related documentation, design files, and technical specifications, user manuals and training materials (if any), and, login and access to all such code, and (ii) the Purchase Price would consist solely of the total amount already paid to Ticketbash by the Company, or $469,500. As a result, the Purchase is being deemed by the parties to have closed on October 3, 2025. The foregoing description of the Second Amendment does not purport to be complete and is qualified in its entirety by reference to the Second Amendment, a copy of which is available at https://tinyurl.com/2w3nebcs About Innovative Medtech Innovative Medtech, Inc., headquartered in Blue Island, Illinois, provides health and wellness services through its RX Vitality digital health app and its subsidiary Sarah Day Care Centers, Inc. On September 19, 2025, the Company filed with the State of Delaware a Certificate of Amendment to its Amended and Restated Certificate of Incorporation to change its corporate name from "Innovative MedTech, Inc." to "AnTix Holdings, Inc." In an auditor report dated Oct. 15, 2025, Tampa, Florida-based Astra Audit & Advisory, LLC, the Company's auditor since 2024, issued a "going concern" qualification, citing that the Company has incurred net losses and working capital deficits. These factors, along with the need for additional financing to meet its business plans, raise substantial doubt about the Company's ability to continue as a going concern. As of March 31, 2025, the Company had $1.06 million in total assets, against $5.96 million in total liabilities, and total stockholders' deficit of $4.89 million. APPLIED DNA: Expects $2.9M Annual Savings From Restructuring Plan ----------------------------------------------------------------- Applied DNA Sciences, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Board of Directors authorized, and its officers implemented, a restructuring plan pursuant to which the Company will reduce overall operating expenses to focus resources on its previously announced BNB-focused treasury strategy. The restructuring plan includes a reduction of the Company's current workforce by 16 employees, or approximately 60%. The Company estimates that it will incur aggregate pre-tax charges of approximately $1.4 million in connection with the reduction-in-force, primarily consisting of severance payments, employee benefits, and related costs. The Company expects that the reduction-in-force will be substantially completed by the end of October 2025 and that the associated charges will be recorded in the first quarter of fiscal 2026. The Company also estimates that the restructuring will result in annualized cost savings of approximately $2.9 million. The estimated charges that the Company expects to incur are subject to a number of assumptions, and actual results may differ materially from these estimates. The Company may also incur additional costs not currently contemplated due to events that may occur as a result of, or that are associated with, the restructuring plan. About Applied DNA Sciences Applied DNA Sciences -- adnas.com -- is a biotechnology company developing technologies to produce and detect deoxyribonucleic acid ("DNA"). Using the polymerase chain reaction ("PCR") to enable both the production and detection of DNA, the Company currently operates in three primary business markets: (i) the enzymatic manufacture of synthetic DNA for use in the production of nucleic acid-based therapeutics and the development and sale of a proprietary RNA polymerase ("RNAP") for use in the production of mRNA therapeutics; (ii) the detection of DNA and RNA in molecular diagnostics and genetic testing services; and (iii) the manufacture and detection of DNA for industrial supply chain security services. Melville, NY-based Marcum LLP, the Company's auditor since 2014, issued a "going concern" qualification in its report dated Dec. 17, 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 June 30, 2025, Applied DNA Sciences had $9.93 million in total assets, $2.95 million in total liabilities, and $6.99 million in total equity. APPLIED DNA: Now Trading on Nasdaq Under New Ticker BNBX -------------------------------------------------------- Applied DNA Sciences, Inc. announced a change to its ticker symbol on the Nasdaq Capital Market from "APDN" to "BNBX", which became effective at the opening of trading on Tuesday October 7, 2025. The ticker BNBX underscores the Company's strategic commitment to a BNB-based treasury strategy designed to optimize yield generation and token accumulation within the Binance ecosystem. The Company plans to implement a differentiated approach to treasury management, including through the integration of actively managed decentralized finance protocols and Binance ecosystem specific strategies, aimed at enhancing capital efficiency, liquidity resilience, and exposure to digital asset upside. No action by the Company's stockholders is required with respect to the ticker symbol change. The Company's common stock will continue to be listed on Nasdaq and the CUSIP number will remain unchanged. About Applied DNA Sciences Applied DNA Sciences -- adnas.com -- is a biotechnology company developing technologies to produce and detect deoxyribonucleic acid ("DNA"). Using the polymerase chain reaction ("PCR") to enable both the production and detection of DNA, the Company currently operates in three primary business markets: (i) the enzymatic manufacture of synthetic DNA for use in the production of nucleic acid-based therapeutics and the development and sale of a proprietary RNA polymerase ("RNAP") for use in the production of mRNA therapeutics; (ii) the detection of DNA and RNA in molecular diagnostics and genetic testing services; and (iii) the manufacture and detection of DNA for industrial supply chain security services. Melville, NY-based Marcum LLP, the Company's auditor since 2014, issued a "going concern" qualification in its report dated Dec. 17, 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 June 30, 2025, Applied DNA Sciences had $9.93 million in total assets, $2.95 million in total liabilities, and $6.99 million in total equity. ARTIFICIAL INTELLIGENCE: Posts Over $750,000 in Unaudited Q2 Profit ------------------------------------------------------------------- Artificial Intelligence Technology Solutions, Inc. confirmed preliminary, unaudited results indicating that the Company achieved profitability in its fiscal second quarter ended August 31, 2025, reporting over $750,000 in profit. In a press release issued June 17, 2025, AITX announced the restructuring and settlement of over $4.5 million in debt for less than 10% of the amount owed, positioning the Company to achieve profitability in the second quarter. Management noted at the time that this action, combined with continued revenue growth and cost discipline, was expected to result in a profitable quarter. "We are very pleased to confirm profitability for the quarter," said Steve Reinharz, CEO/CTO and founder of AITX. "The decisive debt restructuring and disciplined cost controls we implemented delivered the results we anticipated. This is a particular bright spot in Company operations during the first six months of a year characterized by moving many large-scale sales opportunities to the finish line. We anticipate a strong second half of the year of order intake of both RAD hardware and SARA™ software solutions." For a comprehensive look at AITX's business, technology, and market trajectory, the Company recently released an updated Company Profile. Investors and stakeholders are encouraged to review the document for additional insight into AITX's strategy and ongoing growth initiatives. AITX, through its primary subsidiary, Robotic Assistance Devices, Inc. (RAD), is redefining the nearly $50 billion (US) security and guarding services industry through its broad lineup of innovative, AI-driven Solutions-as-a-Service business model. RAD solutions are specifically designed to provide cost savings to businesses of between 35%-80% when compared to the industry's existing and costly manned security guarding and monitoring model. RAD delivers these tremendous cost savings via a suite of stationary and mobile robotic solutions that complement, and at times, directly replace the need for human personnel in environments better suited for machines. All RAD technologies, AI-based analytics and software platforms are developed in-house. The Company's operations and internal controls have been validated through successful completion of its SOC 2 Type 2 audit, reinforcing the Company's credibility with enterprise and government clients who require strict data protection and security compliance. RAD has a prospective sales pipeline of over 35 Fortune 500 companies and numerous other client opportunities. RAD expects to continue to attract new business as it converts its existing sales opportunities into deployed clients generating a recurring revenue stream. Each Fortune 500 client has the potential of making numerous reorders over time. About Artificial Intelligence Technology Headquartered in Ferndale, Mich., Artificial Intelligence Technology Solutions Inc. provides artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges, and fuel new business ideas. Through its next-generation robotic product offerings, AITX's RAD, RAD-R, RAD-M, and RAD-G companies help organizations streamline operations, increase ROI, and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services, allowing experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staff and gain higher levels of situational awareness, all at drastically reduced costs. AITX solutions are well-suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education, and healthcare. Deer Park, Illinois-based L J Soldinger Associates, LLC, the Company's auditor since 2019, issued a "going concern" qualification in its report dated May 29, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended February 28, 2025, citing that the Company had negative cash flow from operating activities of approximately $12.2 million, an accumulated deficit of approximately $156.5 million and negative working capital of approximately $2.5 million as of and for the year ended February 28, 2025, which raises substantial doubt about its ability to continue as a going concern. As of May 31, 2025, the Company had $9.76 million in total assets, $59.86 million in total liabilities, and $50.51 million in total stockholders' deficit. AURORA MOBILE: Seeks to Tap Thompson Burton as Bankruptcy Counsel ----------------------------------------------------------------- Aurora Mobile IV and Wellness, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Alabama to employ Thompson Burton PLLC as counsel. The firm's services include: (a) prepare pleadings and applications and conduct examinations incidental to any related proceedings or to the administration of this case; (b) develop the relationship of the status of the Debtor to the claims of creditors in this case; (c) advise the Debtor of its rights, duties, and obligations in operating under Chapter 11 of the Bankruptcy Code; (d) take any and all other necessary action incident to the proper preservation and administration of this Chapter 11 case; and (e) advise and assist the Debtor in the formation and preservation of a plan pursuant to Chapter 11 of the Bankruptcy Code, the disclosure statement, and any and all matters related thereto. The firm's hourly rates are as follows: Stuart Maples, Esq. $450 Other Associates $300 - $350 Mr. Maples 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: Stuart M. Maples, Esq. Thompson Burton PLLC 200 Clinton Avenue West, Suite 1000 Huntsville, AL 35801 Telephone: (256) 489-9779 Facsimile: (256) 489-9720 Email: smaples@thompsonburton.com About Aurora Mobile IV and Wellness Aurora Mobile IV and Wellness LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ala. Case No. 25-82023) on Oct. 6, 2025, listing under $1 million in both assets and liabilities. Judge Clifton R. Jessup Jr. oversees the case. Stuart M. Maples, Esq., at Thompson Burton PLLC serves as the Debtor's counsel. AYR WELLNESS: Article 9 Foreclosure Sale Set for November 10 ------------------------------------------------------------ AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) together with its affiliates and subsidiaries, a leading vertically integrated U.S. multi-state cannabis operator, announced on Oct. 13, 2025, the next step of its debt restructuring process with its senior noteholders. As contemplated by the Restructuring Support Agreement dated July 30, 2025, this next phase of the restructuring will be implemented through a foreclosure sale, conducted by Odyssey Trust Company, in its capacity as collateral trustee for the Company's senior noteholders. The Trustee, at the direction of Senior Noteholders holding over a majority of the outstanding senior notes, has: (a) delivered notifications of disposition of collateral in accordance with the Uniform Commercial Code to conduct a public sale of certain collateral assets and equity interests of certain specified AYR subsidiaries with respect to certain going--concern operations of the Company in Florida, New Jersey, Nevada, Ohio, Massachusetts, and Pennsylvania, as more fully set forth in the notification delivered by the Trustee, and (b) published an advertisement with respect to the Sale in the Wall Street Journal and distributed via Cannabis Business Times. The public auction is scheduled to occur on November 10, 2025, at 10:00 a.m. Eastern Time, at the offices of Paul Hastings LLP, 200 Park Avenue, 26th Floor, New York, NY 10166, and/or virtually via video conference and the Trustee reserves the right to adjourn or postpone the auction without any further notice. "The commencement of the Article 9 proceedings and public auction process marks the latest milestone in our ongoing restructuring process, said Scott Davido, Interim CEO of AYR. "As we work to transition the ownership of many of the Company's assets to the successful bidder, throughout this entire process, AYR will continue to fully operate these businesses and continue to deliver the same high quality of products and services." To obtain further information regarding the Sale, interested parties should contact David Zubricki of Ducera Partners LLC at (212) 671-9717 or dzubricki@ducerapartners.com and Cullen Murphy of Moelis & Company at (212) 883-4238 or Cullen.murphy@moelis.com. Only qualified bidders that comply with requirements set forth in the bid procedures (which will be made available to qualified bidders) may participate in the Sale. AYR continues to work cooperatively with the Senior Noteholders and its stakeholders in furtherance of the RSA. About AYR Wellness Inc. AYR Wellness is a vertically integrated U.S. multi-state cannabis operator with over 90 licensed retail locations across Florida, Pennsylvania, New Jersey, Ohio, Nevada, and Virginia. The Company cultivates, manufactures, and retails a broad portfolio of high-quality cannabis products, supporting both medical patients and adult-use consumers. AYR also offers a growing suite of CPG brands--including Kynd, Haze, and Later Days--designed to meet a wide range of consumer needs across its markets. AZ 400 HERKIMER: Voluntary Chapter 11 Case Summary -------------------------------------------------- Debtor: AZ 400 Herkimer LLC 14040 Beech Avenue, Apt 1A Flushing, NY 11355 Business Description: AZ 400 Herkimer LLC, formed in 2023, is a New York-based limited liability company established solely to acquire a six-story, 145,400-sq-ft, 154-unit rent-stabilized residential building at 400 Herkimer Street, Brooklyn, NY, which it purchased on May 25, 2023, for $24.5 million. Chapter 11 Petition Date: October 10, 2025 Court: United States Bankruptcy Court Eastern District of New York Case No.: 25-44916 Judge: Hon. Jil Mazer-Marino Debtor's Counsel: Lawrence Morrison, Esq. MORRISON TENENBAUM PLLC 87 Walker Street, Second Floor New York, NY 10013 E-mail: lmorrison@m-t-law.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $10 million to $50 million The petition was signed by Mark Taub as chief restructuring officer. The petition was filed without the Debtor's list of its 20 largest unsecured creditors. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/G4WDAKY/AZ_400_Herkimer_LLC__nyebke-25-44916__0001.0.pdf?mcid=tGE4TAMA B. RILEY FINANCIAL: Receives Nasdaq Notice Over Delayed 10-Q's -------------------------------------------------------------- B. Riley Financial, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company received a Staff Determination Letter from the Nasdaq Listing Qualifications Staff based on the Company's non-compliance with Nasdaq Listing Rule 5250(c)(1), as previously notified by the Staff on April 3, 2025, May 21, 2025 and August 20, 2025. The basis for the Staff Determination Letter is that the Company has not yet filed its Quarterly Reports on Form 10-Q for the periods ended March 31, 2025 and June 30, 2025, with the Securities and Exchange Commission. The Company filed its Form 10-K for the fiscal year ended December 31, 2024 on September 19, 2025 and is actively working towards the filing of the Delayed Reports to ensure full compliance with the Listing Rules. The Staff Determination Letter noted that, after the Staff's review of the materials submitted by the Company on September 4, 2025 and September 19, 2025, it lacked the discretion within Nasdaq's rules to grant the Company a further exception beyond the September 29, 2025 deadline that was previously granted to regain compliance with the Filing Rule. The Staff Determination Letter has no immediate effect and will not immediately result in the suspension of trading or delisting of the Company's securities. The Staff Determination Letter notified the Company that it may request a hearing before a Nasdaq Hearings Panel, pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series. A request for a hearing regarding one or more delinquent filings will automatically stay the suspension of the Company's securities for a period of at least 15 calendar days from the date of the hearing request. By Nasdaq rule, when a company requests a hearing for one or more late SEC periodic public filings, it must also request an extension of the stay through the hearing date and subsequently during any additional extension period granted by a Hearings Panel following the hearing. Hearings are typically scheduled to occur approximately 30-45 days after the date of the hearing request. The Company intends to timely submit a request for a hearing including continued listing of its securities pending the hearing and the Hearings Panel's decision. There can be no assurance that the Hearings Panel will grant any of the Company's requests for additional time. In the unlikely event that Nasdaq is not able to rule on the stay of a suspension prior to the expiration of the automatic stay, it has been Nasdaq's practice to take no action until a Hearings Panel is able to make a ruling on the extended stay request. Once the Hearings Panel makes a ruling on the extended stay, the Company intends to make a subsequent announcement. About B. Riley Financial B. Riley Financial, Inc. -- http://www.brileyfin.com/-- is a diversified financial services company that delivers tailored solutions to meet the strategic, operational, and capital needs of its clients and partners. B. Riley leverages cross-platform expertise to provide clients with full service, collaborative solutions at every stage of the business life cycle. Through its affiliated subsidiaries, B. Riley provides end-to-end financial services across investment banking, institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, operations management, risk and compliance, due diligence, forensic accounting, litigation support, appraisal and valuation, auction, and liquidation services. B. Riley opportunistically invests to benefit its shareholders, and certain affiliates originate and underwrite senior secured loans for asset-rich companies. As of December 31, 2024, B. Riley Financial had $1.78 billion in total assets, $2.24 billion in total liabilities, and $456.02 million in total deficit. BEELINE HOLDINGS: Beeline Loans Gets $5M Warehouse Line of Credit ----------------------------------------------------------------- Beeline Holdings, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that Beeline Loans, Inc., a subsidiary of the Company, entered into a warehouse facility agreement with Customers Bank providing for a $5 million warehouse line of credit (the "Customers Bank Facility"). The Customers Bank Facility will be used by Beeline Loans to fund mortgage loan originations in the ordinary course of business. Beeline Loans currently maintains a $5 million warehouse facility with First Funding. Loans funded under these facilities typically remain on the line for three to fourteen business days before being sold, at which point amounts drawn are repaid and the facilities are available for additional loan fundings. Beeline Loans has been turning its warehouse line approximately 2.5 times per month. Beeline Loans' loan originations increased approximately 30% from the first quarter to the second quarter of 2025, and approximately 34% from the second quarter to the third quarter of 2025. With interest rate cuts anticipated and housing market conditions improving, the Company expects continued growth in originations. The Company intends to add an additional warehouse banking partner in the near term and increase its existing warehouse capacity in October 2025 to support future growth. 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, against $17.5 million in total liabilities. As of June 30, 2025, the Company had $68.57 million in total assets, against $13.02 million in total liabilities. BERRY CAPITAL: Case Summary & Top Unsecured Creditors ----------------------------------------------------- Two affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- Berry Capital Management, LLC 25-04002 100 Elks Club Road Brevard, NC 28712-4842 Berry Capital Management II, LLC 25-04003 100 Elks Club Road Brevard, NC 28712 Business Description: Berry Capital Management, LLC, based in Brevard, North Carolina, is an agricultural investment company providing capital for a 400-acre organic blueberry farm. Its affiliated entity, Berry Capital Management II, LLC, supports the same investment projects. Chapter 11 Petition Date: October 10, 2025 Court: United States Bankruptcy Court Eastern District of North Carolina Judge: Hon. Joseph N Callaway Debtors' Counsel: David J. Haidt, Esq. AYERS & HAIDT, PA PO Box 1544 New Bern, NC 28562 Tel: 252-638-2955 Fax: 252-638-3293 E-mail: jack@ayershaidt.com Each Debtor's Estimated Assets: $1 million to $10 million Each Debtor's Estimated Liabilities: $0 to $50,000 The petitions were signed by Bruce Roberts, on behalf of Carolina Financial Group, LLC, manager of the Debtor. Full-text copies of the petitions, which include lists of the Debtors' largest unsecured creditors, are available for free on PacerMonitor at: https://www.pacermonitor.com/view/MJB4XDQ/Berry_Capital_Management_LLC__ncebke-25-04002__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/NNYS3FY/Berry_Capital_Management_II_LLC__ncebke-25-04003__0001.0.pdf?mcid=tGE4TAMA BEYOND MEAT: Secures 96.92% of Notes in Early Tender Phase ---------------------------------------------------------- Beyond Meat, Inc., a leader in plant-based meat, announced on Oct. 13, 2025, the early tender results of its previously announced Exchange Offer to exchange any and all of its 0% Convertible Senior Notes due 2027 for a pro rata portion of: (i) up to $202.5 million in aggregate principal amount of its new 7.00% Convertible Senior Secured Second Lien PIK Toggle Notes due 2030 and (ii) up to 326,190,370 shares of its common stock (the "New Shares" and, together with the New Convertible Notes, the "Offered Securities"). As of 5:00 p.m., New York City time, on October 10, 2025 (the "Early Tender Date"), based on information provided by MacKenzie Partners, Inc., which is acting as the exchange agent and information agent for the Exchange Offer, $1,114,603,000 in aggregate principal amount of Existing Convertible Notes was validly tendered in the Exchange Offer and not validly withdrawn and related consents to the Proposed Amendments were validly delivered and not validly withdrawn as of such time. It was a condition to the Exchange Offer that a minimum of 85% of the aggregate principal amount of Existing Convertible Notes shall have been validly tendered (and, if applicable, not validly withdrawn). The Tendered Notes represent 96.92% of the aggregate outstanding principal amount of Existing Convertible Notes. As a result, the Company also announced that it will consummate the early settlement with respect to the Tendered Notes, which was expected to occur on October 15, 2025, the second business day immediately following the Early Tender Date. Beyond Meat President and CEO Ethan Brown commented, "We are pleased to announce this Early Settlement of the Exchange Offer for our Existing Convertible Notes, which marks a meaningful next step towards our goal of reducing leverage and extending debt maturity for Beyond Meat." In addition, the Company agreed in the transaction support agreement, dated September 29, 2025, among the Company and certain beneficial owners or nominees, investment managers or advisors for beneficial holders of the Existing Convertible Notes who held approximately 47% of the aggregate principal amount of the Existing Convertible Notes as of the effective date of the Transaction Support Agreement, to pay or cause to be paid to the Supporting Noteholders, in proportion to the principal amount of Existing Notes held by each such Supporting Noteholder, a non-refundable amount equal to $12.5 million in aggregate principal amount of New Convertible Notes on the initial settlement date of the New Convertible Notes. As a result, the SteerCo Premium is expected to be issued on the Early Settlement Date, and a total of $208,717,000 in aggregate principal amount of New Convertible Notes is expected to be outstanding immediately following the Early Settlement Date. By tendering Existing Convertible Notes in the Exchange Offer, each participating holder of Existing Convertible Notes is deemed to have agreed with the Company that from and after the Early Settlement Date and until 5:00 p.m., New York City time, on October 16, 2025, which is the record date of the special meeting to be held following the Exchange Offer, it will not transfer, sell, exchange, assign or convey any legal or beneficial ownership interest in, or any right, title or interest therein (including any right or power to vote), or otherwise dispose of (whether by sale, liquidation, dissolution, dividend, distribution or otherwise) any New Shares, or enter into any contract, option, or other agreement with respect to any of the foregoing; provided that an exchanging holder of Existing Convertible Notes may sell up to approximately 37.45% of the New Shares received by such holder in the Exchange Offer until 5:00 p.m., New York City time, on October 16, 2025, and, thereafter, will be able to sell all of the New Shares it receives in the Exchange Offer. With the exception of the Freely Tradeable Shares, the New Shares are expected to be issued into a Contra CUSIP (CUSIP NO. 088ESCAA6) intended to restrict the trading of such security for the duration of the lock-up period. The Company intends to publicly announce the release of the lock-up restrictions on or about 5:00 p.m., New York City time, on October 16, 2025. Holders of New Shares subject to the Contra CUSIP will no longer be contractually restricted from transferring such common shares following 5:00 p.m., New York City time, on October 16, 2025. Shares subject to the Contra CUSIP are expected to be allocated into the unrestricted CUSIP for the Company's shares of common stock (CUSIP NO. 08862E109) over the course of the day on October 17, 2025, subject to the procedures of the Depository Trust Company and of DTC participants. Simultaneously with the Exchange Offer, the Company solicited consents from holders of the Existing Convertible Notes to adopt certain proposed amendments to the indenture governing the Existing Convertible Notes. The Proposed Amendments will eliminate substantially all of the restrictive covenants in the Existing Convertible Notes Indenture as well as certain events of default and related provisions applicable to the Existing Convertible Notes. As of 5:00 p.m., New York City time, on the Early Tender Date, the Company had obtained sufficient consents to effectuate the Proposed Amendments. As a result, the Proposed Amendments will become effective upon the Early Settlement Date. For the remaining holders of Existing Convertible Notes that did not tender their Existing Convertible Notes prior to the Early Tender Date, the Exchange Offer will expire at 5:00 p.m., New York City time, on October 28, 2025, unless extended or earlier terminated. The withdrawal deadline for the Exchange Offer and Consent Solicitation occurred at 5:00 p.m., New York City time, on October 10, 2025. As a result, and because the Withdrawal Deadline is not being extended, tenders of the Existing Convertible Notes and related consents may no longer be withdrawn, except in limited circumstances where additional withdrawal rights are required by law. If all conditions to the Exchange Offer have been or are concurrently satisfied or waived at or prior to the Expiration Deadline, unless extended, the Company will accept for exchange any remaining Existing Convertible Notes that were validly tendered in the Exchange Offer following the Early Tender Date and at or prior to the Expiration Deadline, and not validly withdrawn at or prior to the Withdrawal Deadline. The Final Settlement Date, if any, will be promptly after the Expiration Deadline and is currently expected to occur on October 30, 2025, the second business day immediately following the Expiration Deadline. The Exchange Offer and Consent Solicitation may each be amended or extended at any time prior to the Expiration Deadline and for any reason, and may be terminated or withdrawn if any of the conditions of the Exchange Offer and Consent Solicitation are not satisfied or waived by the Expiration Deadline (as it may be extended), subject to applicable law and, if applicable, the terms of the Transaction Support Agreement. Subject to applicable law and, if applicable, the terms of the Transaction Support Agreement, the Company may extend the Expiration Deadline at any time, which may or may not have the effect of extending the Withdrawal Deadline. The New Convertible Notes and shares of common stock offered in the Exchange Offer are being offered only to holders of Existing Convertible Notes that are: (i) "qualified institutional buyers" as defined in Rule 144A under the Securities Act or (ii) "accredited investors" (within the meaning of Rule 501(a) under the Securities Act) that beneficially own a minimum of $200,000 in aggregate principal amount of Existing Convertible Notes. PJT Partners LP is acting as financial advisor to the Company and dealer managerin connection with the Exchange Offer and Consent Solicitation. MacKenzie Partners, Inc. is acting as the exchange agent and the information agent in connection with the Exchange Offer and Consent Solicitation. Questions concerning the Exchange Offer and Consent Solicitation may be directed to: Dealer Manager 280 Park Avenue New York, NY 10017 Tel: (212) 364-7117 or Exchange Agent 7 Penn Plaza, Suite 503 New York, NY 10001 Tel: (800) 322-2885 E-mail: exchangeoffer@mackenziepartners.com. Eligible Holders should also consult their broker, dealer, commercial bank, trust company or other institution for assistance concerning the Exchange Offer and Consent Solicitation. Latham & Watkins LLP is acting as legal counsel to the Company in connection with the Exchange Offer and Consent Solicitation. Houlihan Lokey Capital, Inc. is acting as financial advisor and Akin Gump Strauss Hauer & Feld LLP is acting as legal counsel to certain holders of Existing Convertible Notes that are party to the Transaction Support Agreement. Winston & Strawn LLP is acting as legal counsel to PJT Partners LP, as the Dealer Manager for the Exchange Offer and Consent Solicitation. The New Convertible Notes and shares of common stock offered in the Exchange Offer, and shares of common stock issuable upon conversion of the New Convertible Notes have not been, and will not be, registered under the Securities Act of 1933, as amended, or any other securities laws. About Beyond Meat Beyond Meat, Inc. (NASDAQ: BYND) is a leading plant-based meat company offering a portfolio of revolutionary plant-based meats made from simple ingredients without GMOs, no added hormones or antibiotics, and 0mg of cholesterol per serving. Founded in 2009, Beyond Meat products are designed to have the same taste and texture as animal-based meat while being better for people and the planet. Beyond Meat's brand promise, Eat What You Love(R), represents a strong belief that there is a better way to feed the future and that the positive choices we all make, no matter how small, can have a great impact on our personal health and the health of our planet. By shifting from animal-based meat to plant-based protein, we can positively impact four growing global issues: human health, climate change, constraints on natural resources and animal welfare. BOY SCOUTS: Opponents Take Bankruptcy Plan Fight to Supreme Court ----------------------------------------------------------------- Alex Wolf of Bloomberg Law reports that the opponents of the Boy Scouts of America’s $2.46 billion sexual abuse settlement have taken their fight to the U.S. Supreme Court, arguing that the bankruptcy plan unlawfully shields non-debtor entities from accountability. The petition, filed by 75 abuse survivors from Guam, seeks to align the Boy Scouts' reorganization with recent Supreme Court precedent limiting third-party litigation releases, according to the report. According to the survivors, the 2023 bankruptcy plan stripped them of their right to sue local councils, churches, and other sponsoring organizations involved in scouting activities. They say the plan conflicts with the 2024 Harrington v. Purdue Pharma ruling, which prohibits nonconsensual releases protecting third parties in Chapter 11 cases. The Third Circuit had previously acknowledged that the Boy Scouts settlement would violate Purdue if proposed today but concluded that it was too late to reopen the confirmed plan. The petitioners counter that the appellate court's reasoning stretched bankruptcy law beyond its limits and sidestepped constitutional principles of due process and judicial review, according to report. The Boy Scouts, now operating as Scouting America, filed for bankruptcy in 2020 to address decades of sexual abuse allegations. While most survivors supported the deal, opponents continue to challenge its fairness. The unresolved Supreme Court appeal has stalled access to over $1.5 billion earmarked for victim compensation, leaving many survivors waiting for full recoveries, the report states. About Boy Scouts of America The Boy Scouts of America -- https://www.scouting.org/ -- is a federally chartered non-profit corporation under title 36 of the United States Code. Founded in 1910 and chartered by an act of Congress in 1916, the BSA's mission is to train youth in responsible citizenship, character development, and self-reliance through participation in a wide range of outdoor activities, educational programs, and, at older age levels, career-oriented programs in partnership with community organizations. Its national headquarters is located in Irving, Texas. The Boy Scouts of America and affiliate Delaware BSA, LLC, sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 20-10343) on Feb. 18, 2020, to deal with sexual abuse claims. Boy Scouts of America was estimated to have $1 billion to $10 billion in assets and at least $500 million in liabilities as of the bankruptcy filing. The Debtors have tapped Sidley Austin LLP as their bankruptcy counsel, Morris, Nichols, Arsht & Tunnell LLP as Delaware counsel, and Alvarez & Marsal North America, LLC, as financial advisor. Omni Agent Solutions is the claims agent. The U.S. Trustee for Region 3 appointed a tort claimants' committee and an unsecured creditors' committee on March 5, 2020. The tort claimants' committee is represented by Pachulski Stang Ziehl & Jones, LLP, while the unsecured creditors' committee is represented by Kramer Levin Naftalis & Frankel, LLP. The Debtors obtained confirmation of their Third Modified Fifth Amended Chapter 11 Plan of Reorganization (with Technical Modifications) on September 8, 2022. The Order was affirmed on March 28, 2023. The Plan was declared effective on April 19, 2023. The Hon. Barbara J. House (Ret.) has been appointed as trustee of the BSA Settlement Trust. BREWSTER PLACE: Fitch Affirms 'BB+' IDR, Outlook Stable ------------------------------------------------------- Fitch Ratings has affirmed Brewster Place, KS's Issuer Default Rating (IDR) at 'BB+'. Fitch has also affirmed at 'BB+' the series 2022 A revenue bonds issued by the city of Topeka, KS on behalf of Brewster Place. The Rating Outlook is Stable. Entity/Debt Rating Prior ----------- ------ ----- Brewster Place (KS) LT IDR BB+ Affirmed BB+ Brewster Place (KS) /General Revenues/1 LT LT BB+ Affirmed BB+ Brewster Place's 'BB+' rating reflects its materially improved operating performance and cash flows following the successful fill-up of its Redwood independent living units, as well as Fitch's expectations for continued balance sheet accretion. Occupancy has strengthened meaningfully across the campus, with independent living improving from levels near 80% in 2020-2021 to 98% as of September 2025, and assisted living showing similar gains. The higher census has translated into better profitability, evidenced by the operating ratio improving from a high of 109.4% in 2023 to 99% for the eight-month interim period ended Aug. 31, 2025. Fitch's forward-looking assessment anticipates that management will maintain these improved operating levels over the Outlook period, underpinned by stabilized occupancy and disciplined expense management. As cash flows remain stronger, Fitch expects Brewster Place's balance sheet to continue to accrete; however, leverage and liquidity metrics are likely to remain at the high end of the 'bb' financial profile assessment, consistent with the 'BB+' overall rating. In a stress-case analysis, Brewster's financial profile remains below investment grade, aligning with the current rating and Outlook. Overall, sustained occupancy improvements and enhanced operating efficiency underpin credit stability, with performance expected to remain resilient through the Outlook period. SECURITY Debt payments are secured by a pledge of the gross revenues and a first mortgage lien on all property, excluding the clinic and rental properties adjacent to the community. KEY RATING DRIVERS Revenue Defensibility - bbb Adequate Demand; Competitive Market Fitch's 'bbb' revenue defensibility assessment reflects Brewster Place's market position as a single-site life plan community (LPC) in a relatively competitive market. Many providers offer senior care, and five communities directly compete with Brewster Place. Consistently adequate demand in the community is supported by high skilled nursing facility (SNF) quality ratings and a broad spectrum of price points. Revenue defensibility remains solid, supported by demonstrated demand, targeted occupancy strategies, and disciplined pricing. Management has focused on improving census in both independent living (IL) and assisted living (AL), with notable success: IL and AL occupancy exceeded 95% in September 2025, and Brewster Place maintained a combined waitlist of 81 across these care levels at that time. Fitch expects management to sustain these gains over the Outlook period given the depth of demand and active marketing and sales execution. Pricing strategy further supports revenue durability. Management employs a strategic, data-informed approach, concentrating price increases on units with the highest demand and regularly benchmarking rates against peer comparables to validate competitiveness and value. This targeted pricing, coupled with strong occupancy and a meaningful waitlist, enhances Brewster Place's ability to defend revenue through cycles while preserving market position. Operating Risk - bbb Midrange Operating Metrics; Manageable Debt Burden As a predominantly Type B contract provider, Brewster Place's operating profile is assessed as midrange based on its historical operating metrics. The operating ratio averaged about 100% over the last several years. This is consistent with the average NOM of 4.9% and NOM-A of 16.2%. Profitability ratios for the period ended Aug. 31, 2025 have significantly improved, reflecting increased revenues from improved occupancy and cost containment measures. At the end of August 2025, Brewster had an operating ratio of 99%, NOM of 10.3 and NOM-A of 18.9. Fitch expects Brewster to maintain operating ratios below 100% over the next several years. Capex has averaged over 150% of depreciation over the last five fiscal years, with an average age of plant of 14 years at FYE 2024. Fitch expects capex to moderate to below depreciation over the next several years as management limits expenditures to routine maintenance and unit turnover. The debt associated with campus repositioning project has not stressed Brewster Place's capital related metrics beyond acceptable thresholds for the midrange assessment. MADS is about $3.7 million, equating to about 14.5% of 2024 revenues. Debt to net available was 5.8x at FYE 2024. Historically, revenue only MADS coverage has been about 0.8x. Financial Profile - bb Financial Profile Steady Through Moderate Stress Fitch expects Brewster Place's key leverage and liquidity metrics to remain consistent with the 'bb' financial profile over the current economic and business cycle, supported by midrange assessments for revenue defensibility and operating risk and informed by Fitch's forward-looking scenario analysis. At fiscal year-end 2024, Brewster Place held approximately $11 million of unrestricted cash and investments, with days cash on hand (DCOH) of 155 (Fitch-calculated), below the 200-day threshold associated with a weaker liquidity profile. However, Fitch expects liquidity to strengthen meaningfully through a combination of ERC funds totaling $5.7 million and ongoing cash accretion, with DCOH rising above 200 days in fiscal 2026. Under Fitch's stress-case scenario, Brewster Place maintains operating and financial metrics aligned with the 'bb' financial profile assessment and remains consistent with the 'BB+' rating. Debt service coverage is sound for the rating level, and cash-to-adjusted debt metrics remain within the 'BB' category, reflecting manageable leverage. Capital spending is expected to normalize to approximately $2.3 million annually in the base case. As part of the forward look, Fitch applies an economic stress reflecting financial market volatility and Brewster Place's specific asset allocation. Even under these conditions, Fitch expects Brewster Place to sustain adequate liquidity and coverage consistent with the current rating, with financial metrics remaining resilient within the 'BB' category through the Outlook period. Asymmetric Additional Risk Considerations No asymmetric risk considerations were relevant to the rating determination. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - Decrease in unrestricted liquidity such that cash-to-adjusted debt is sustained at or below 30%; - Softening in cash flow such that MADS coverage is sustained below 1.3x; - Operating ratios sustained above 100%; - Decrease in occupancy such that ILU occupancy is sustained below 85% and occupancy in the other areas of care decrease with expectations to remain below 80%. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Increase in liquidity such that cash-to-adjusted debt approaches 70% and MADS coverage consistently above 2x. PROFILE Brewster Place is a Type-B LPC located in Topeka, KS. The organization operates 239 ILU apartments (including the 23 newly renovated Redwood project ILUs), 16 assisted living units, 12 memory support units, and 79 SNF units and an additional 18 short term rehab beds. Brewster Place was incorporated in 1958 as The Congregational Home (d/b/a Brewster Place) and opened in 1964. The Obligated Group includes Brewster Place and the Foundation. The Foundation provides fundraising and charitable support for Brewster Place. As of Dec. 31, 2024, the Foundation had cash and investments of approximately $3 million. Fitch's assessment is based only on the financial results for those two entities and excludes Brewster at Home, a Home Health organization with Brewster Place as the sole member. Total audited operating revenue for the obligated group was approximately $26 million in fiscal 2024 (YE Dec. 31). Sources of Information In addition to the sources of information identified in Fitch's applicable criteria specified below, this action was informed by data from Lumesis. ESG Considerations The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. BRIGHT MOUNTAIN: Amends Credit Agreement With Centre Lane --------------------------------------------------------- Bright Mountain Media, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company and its subsidiaries are parties to an Amended and Restated Senior Secured Credit Agreement between itself, the lenders party thereto, and Centre Lane Partners Master Credit Fund II, L.P., as Administrative Agent and Collateral Agent, dated June 5, 2020, as amended. Effective as of September 30, 2025, the Company and its subsidiaries, CL Media Holdings LLC, Bright Mountain LLC, MediaHouse, Inc., Deep Focus Agency LLC, and BV Insights LLC, Centre Lane Partners, and the Lenders entered into the Twenty-Third Amendment to Amended and Restated Senior Secured Credit Agreement to amend certain terms of the Credit Agreement. The principal changes to the Credit Agreement made in the Twenty-Third Amendment include, but are not limited to, the following: (i) Adjusting the amortization of the First Out Loans such that the quarterly installment due on September 30, 2025 with respect to the First Out Loans was reduced from $575,000 to $250,000, with the payment of the difference being deferred until the maturity date of the First Out Loans, which is December 20, 2026; (ii) Adjusting the amortization of the Second Out Loans such that the quarterly installment due on September 30, 2025 with respect to the Second Out Loans, which was approximately $390,000, was deferred in its entirety until the maturity date of the Second Out Loans, which is December 20, 2026; and (iii) Adjusting the payment of interest accrued on the First Out Loans and the Second Out Loans for the interest period ended September 30, 2025, which totaled approximately $257,000, such that the interest payment for each of the First Out Loans and the Second Out Loans due on September 30, 2025 was payable-in-kind in lieu of a cash payment. In connection with the Twenty-Third Amendment and as consideration therefor, the Company agreed to: (i) pay an amendment fee to Centre Lane Partners for the ratable accounts of the Lenders equal to 25 basis points of the First Out Loans, approximately $8,000, which amendment fee was paid on September 30, 2025 by adding the amount thereof to the outstanding principal balance of the First Out Loans, and (ii) issue a number of shares of the common stock of the Company, par value $0.01 per share, equal to 1.5% of the fully-diluted pro forma ownership of the Company as of September 30, 2025, or 2,832,485 shares of Common Stock, to Centre Lane Partners. Following such issuance, Centre Lane Partners and its affiliates collectively beneficially own approximately 25% of the Common Stock. As of October 6, 2025, approximately $83.3 million remains outstanding under the Credit Agreement, with approximately $1.2 million of such amount due on December 31, 2025. About Bright Mountain Bright Mountain Media, Inc. (together with its wholly-owned subsidiaries) is an end-to-end marketing services company that helps brands with the right audiences, at the right time, with the right message, both effectively and efficiently by removing the middlemen in the marketing workflow. The Company's end-to-end offerings combine consumer insights with creative services, media services, and advertising technology to deliver solutions to improve audience fidelity for brands. The Company focuses on digital publishing, advertising technology, consumer insights, creative services, and media services. New York, New York-based WithumSmith+Brown, PC, the Company's auditor since 2021, issued a "going concern" qualification in its report dated March 10, 2025, attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024. The report cited that the Company has suffered recurring losses from operations and has a net capital deficiency that raise substantial doubt about its ability to continue as a going concern. As of June 30, 2025, the Company had $39.50 million in total assets, $110.12 million in total liabilities, and $70.62 million in total stockholders' deficit. BROOKLYN KEBAB: Seeks to Tap Rosen Tsionis & Pizzo as Counsel ------------------------------------------------------------- Brooklyn Kebab House Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Rosen, Tsionis & Pizzo, PLLC as counsel. The firm's services include: (a) advise the Debtor of the rights and duties; (b) oversee the preparation of necessary reports to the court or creditors; (c) conduct all appropriate investigations or litigation; and (d) perform any other necessary duty in aid of the administration of the estate. The firm will be paid at these hourly rates: Partners $690 Associates $590 Paraprofessional $200 On September 24, 2025, 1407 Foster Ave LLC, on behalf of the Debtor, remitted the retainer amount of $20,000. Alex Tsionis, Esq., a member at Tsionis & Pizzo, 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: Alex E. Tsionis, Esq. Rosen, Tsionis & Pizzo, PLLC Huntington, NY 11743 Telephone: (631) 423-8527 About Brooklyn Kebab House Brooklyn Kebab House Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-44535) on Sept. 22, 2025, listing up to $1 million in both assets and liabilities. Honorable Bankruptcy Judge Nancy Hershey Lord handles the case. Alex E. Tsionis, Esq., at Rosen, Tsionis & Pizzo, PLLC serves as the Debtor's counsel. CACHCOPA LLC: Court OKs Interim Use of Cash Collateral ------------------------------------------------------ The U.S. Bankruptcy Court for the Middle District of Florida, Fort Myers Division, granted Cachcopa LLC interim authority to use cash collateral. The interim order signed by Judge Caryl Delano authorized the Debtor to use cash collateral to pay the amounts expressly authorized by the court; the expenses set forth in the budget, plus an amount not to exceed 10% for each line item; and the expenses specifically authorized to be paid by any secured creditor holding an interest in the cash collateral. This authorization will continue until further order of the court. As adequate protection, secured creditors will be granted post-petition replacement liens, perfected automatically with the same priority and validity as their pre-bankruptcy liens. The Debtor must also maintain required insurance on its property in accordance with loan and security agreements. The final hearing is scheduled for October 22. Funders APP, LLC and Bizfund.com, LLC may have a lien on the cash collateral of the Debtor by virtue of the UCC-1 financing statement filed with the Pennsylvania Department of State. Both are entitled to a post-petition lien. As of August 26, the Debtor owed $48,134 and $132,637.04 to Funders APP and Bizfund.com, respectively. The value of the Debtor's assets was $196,726.79 as of the petition date. Funders APP is represented by: Alan C. Hochheiser, Esq. Maurice Wutscher, LLP 23611 Chagrin Blvd., Suite 207 Beachwood, OH 44122 Telephone: (216) 220-1129 Facsimile: (216) 472-8510 ahochheiser@mauricewutscher.com About Cachcopa LLC Cachcopa, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-01657) on August 26, 2025, listing between $100,001 and $500,000 in assets and between $1 million and $10 million in liabilities. Judge Caryl E. Delano presides over the case. Erik Johanson PLLC represents the Debtor as bankruptcy counsel. CACHCOPA LLC: Seeks to Tap Van Horn Law Group as Bankruptcy Counsel ------------------------------------------------------------------- Cachcopa, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to employ Van Horn Law Group, PA as counsel. The firm's services include: (a) advise the Debtor with respect to its powers and duties in the continued management of its business operations; (b) advise the Debtor with respect to its responsibilities in complying with the U.S. Trustee's Operating Guidelines and Reporting Requirements and with the rules of the court; (c) prepare legal documents necessary in the administration of the case; (d) protect the interest of the Debtor in all matters pending before the court; and (e) represent the Debtor in negotiation with its creditors in the preparation of a plan. The firm will be paid at these hourly rates: Chad Van Horn, Attorney $500 Associate Attorneys $350 - $425 Senior Paralegals $275 Law Clerks/Paralegals $175 Paralegal Assistant $150 Mr. Van Horn 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: Chad Van Horn, Esq. Van Horn Law Group, PA 500 N.E. 4th Street, Suite 200 Fort Lauderdale, FL 33301 Telephone: (954) 765-3166 Facsimile: (954) 756-7103 Email: chad@cvhlawgroup.com About Cachcopa LLC Cachcopa, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-01657) on August 26, 2025, listing between $100,001 and $500,000 in assets and between $1 million and $10 million in liabilities. Judge Caryl E. Delano presides over the case. Chad Van Horn, Esq., at Van Horn Law Group, PA represents the Debtor as counsel. CAIRO EXPRESS: Natasha Songonuga Named Subchapter V Trustee ----------------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Natasha Songonuga, Esq., at VTrustee, LLC as Subchapter V trustee for Cairo Express, LLC. Ms. Songonuga will be paid an hourly fee of $450 for her services as Subchapter V trustee and will receive reimbursement for work related expenses incurred. Ms. Songonuga declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Natasha Songonuga, Esq. VTrustee LLC PO Box 841 Wilmington, DE 19899 Email: Nsongonuga@VTrusteellc.com About Cairo Express LLC Cairo Express, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-20188) on September 29, 2025, with up to $50,000 in assets and $100,001 to $500,000 in liabilities. Judge Mark Edward Hall presides over the case. Jenee K. Ciccarelli, Esq. at Wenarsky and Goldstein, LLC represents the Debtor as legal counsel. CBDMD INC: Nets $1.5 Million From Series B Preferred Stock Offering ------------------------------------------------------------------- cbdMD, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company entered into Securities Purchase Agreements dated September 29, 2025, with four institutional investors whereby the investors were issued an aggregate of 1,700,000 shares of Series B Convertible Preferred Stock for aggregate gross proceeds of $1,700,000. The Company received net proceeds of $1,500,000 which shall be used for working capital purposes. In addition, pursuant to the Purchase Agreements, the Company entered into a Registration Rights Agreement with each of the Investors pursuant to which the shares of common stock issuable upon conversion of the Series B Preferred Stock to the Investors are entitled to registration under the Securities Act of 1933. Pursuant to the Registration Rights Agreement, the Company is required to file a registration statement to register the shares underlying the Series B Preferred Stock within 30 days following the closing date. The full text copies of the Purchase Agreement and the Registration Rights Agreement are available at https://tinyurl.com/bdencjj9 and https://tinyurl.com/4chwt6a5. On September 29, 2025, the Company filed a Certificate of Amendment to the Certificate of Incorporation designating 1,700,000 shares of the Company's authorized preferred stock as Series B Convertible Preferred Stock, par value $0.001 per share. Each share of the Series B Preferred Stock is convertible into common stock at a conversion price of $1.00, subject to anti-dilution adjustments and Alternative Conversion rights (as defined in the Certificate of Designation). The Series B Preferred Stock accrues dividends at a rate of 10% per annum which are payable quarterly in shares of common stock, subject to the satisfaction of all Equity Conditions (as defined in the Certificate of Designation), or in cash. If the Company fails to satisfy an Equity Condition, dividends shall be paid in cash. However, if North Carolina law prohibits the payment of dividends in cash, then the then Stated Value (as defined in the Certificate of Designation) shall be increased by the dividends as reasonably determined by the Company and the holders of the Series B Preferred Stock. With respect to liquidation, dissolution and winding up of the Company, the Series B Preferred Stock ranks senior to all shares of the Company's capital stock unless otherwise consented to by the holders of the Series B Preferred Stock. The holders of Series B Preferred Stock have no voting power and no right to vote, except as required by the North Carolina Business Corporations Act or with respect to matters affecting the preferences, rights, privileges or powers relating to the Series B Preferred Stock. In addition, the Series B Preferred Stock is subject to a beneficial ownership limitation which prohibits any holder from beneficially owning more than 4.99% of the shares of the Company's common stock outstanding immediately following such conversion. A full text copy of the Certificate of Designation is available at https://tinyurl.com/5f5cu4y8 About cbdMD, Inc. Headquartered in Charlotte, NC, cbdMD, Inc. -- www.cbdmd.com -- owns and operates the nationally recognized CBD (cannabidiol) brands cbdMD, Paw CBD, and cbdMD Botanicals. Its mission is to enhance its customers' overall quality of life while bringing CBD education, awareness, and accessibility of high-quality and effective products to all. The Company sources cannabinoids, including CBD, which are extracted from non-GMO hemp grown on farms in the United States. Charlotte, North Carolina-based Cherry Bekaert LLP, the Company's auditor since 2016, issued a "going concern" qualification in its report dated Dec. 18, 2024, citing that the Company has historically incurred losses, including a net loss of approximately $3.7 million in the current year, resulting in an accumulated deficit of approximately $182 million as of September 30, 2024. These conditions raise substantial doubt about the Company's ability to continue as a going concern. As of June 30, 2025, the Company had $9.90 million in total assets, $3.78 million in total liabilities, and $6.11 million in total cbdMD, Inc. shareholders' equity. CELSIUS NETWORK: Tether Pays $299.5M in Bankruptcy Settlement ------------------------------------------------------------- The Blockchain Recovery Investment Consortium (BRIC), a joint venture between GXD Labs and VanEck, announced that Tether has paid $299.5 million to the Celsius Network bankruptcy estate after an adversary proceeding was filed in August 2024. The lawsuit, which was filed in the United States Bankruptcy Court for the Southern District of New York, alleged claims under the bankruptcy code and related claims arising out of collateral transfers and liquidations that occurred in the lead-up to Celsius's July 2022 bankruptcy filing. "We are pleased to have resolved Celsius's adversary proceeding and related claims against Tether," said David Proman, Managing Partner of GXD Labs, an affiliate of Atlas Grove Partners. "In addition, we are pleased with the timeliness with which the settlement was achieved." GXD Labs and VanEck managed this litigation through the BRIC, which was created in early 2023 to maximize recoveries in complex digital asset bankruptcies like Celsius. The BRIC was appointed Complex Asset Recovery Manager and Litigation Administrator by the Debtors and Unsecured Creditors' Committee in the Celsius Network bankruptcy in January 2024, following Celsius's exit from bankruptcy protection. The BRIC continues to manage a portfolio of illiquid assets and litigation assets for the Celsius bankruptcy estate, working through the estate's wind-down for the benefit of creditors. The team behind the BRIC -- including R Christian Wyatt and David Proman of GXD Labs, and Pranav Kanade and Matthew Babinsky of VanEck -- has significant experience in complex asset recovery, litigation management, and liquid and illiquid cryptocurrencies. Benjamin I. Finestone, co-head of Quinn Emanuel Urquhart & Sullivan, LLP's bankruptcy and restructuring group, advised the BRIC. About GXD Labs GXD Labs, a wholly owned subsidiary of Atlas Grove Partners (www.atlas.gp), is a digital asset and blockchain operating, investment and advisory business. It participates in all parts of the digital asset universe, through public and private investments, complex asset recovery, litigation and wind-down efforts. It also advises on strategic planning, growth, liability management and restructuring. www.gxdlabs.io About VanEck VanEck has a history of looking beyond the financial markets to identify trends that are likely to create impactful investment opportunities. It is one of the first U.S. asset managers to offer investors access to international markets. This set the tone for the firm's drive to identify asset classes and trends -- including gold investing in 1968, emerging markets in 1993, and exchange-traded funds in 2006 -- that subsequently shaped the investment management industry. VanEck offers active and passive strategies with compelling exposures supported by well-designed investment processes. As of September 30, 2025, VanEck managed approximately $161.7 billion in assets, including mutual funds, ETFs and institutional accounts. The firm's capabilities range from core investment opportunities to more specialized exposures to enhance portfolio diversification. It actively managed strategies are fueled by in-depth, bottom-up research and security selection from portfolio managers with direct experience in the sectors and regions in which they invest. Investability, liquidity, diversity, and transparency are key to the experienced decision-making around market and index selection underlying VanEck's passive strategies. Since founding in 1955, putting the Company's clients' interests first, in all market environments, has been at the heart of the firm's mission. www.vaneck.com About Celsius Network Celsius Network LLC -- http://www.celsius.network/-- is a financial services company that generates revenue through cryptocurrency trading, lending, and borrowing, as well as by engaging in proprietary trading. Celsius helps over a million customers worldwide to find the path towards financial independence through a compounding yield service and instant low-cost loans accessible via a web and mobile app. Celsius has a blockchain-based fee-free platform where membership provides access to curated financial services that are not available through traditional financial institutions. The Celsius Wallet claims to be one of the only online crypto wallets designed to allow members to use coins as collateral to get a loan in dollars, and in the future, to lend their crypto to earn interest on deposited coins (when they're lent out). Crypto lenders such as Celsius boomed during the COVID-19 pandemic, drawing depositors with high interest rates and easy access to loans rarely offered by traditional banks. But the lenders' business model came under scrutiny after a sharp sell-off in the crypto market spurred by the collapse of major tokens terraUSD and luna in May 2022. New Jersey-based Celsius froze withdrawals in June 2022, citing "extreme" market conditions, cutting off access to savings for individual investors and sending tremors through the crypto market. The list of major crypto firms that have filed for bankruptcy protection in 2022 now includes Celsius Network, Three Arrows Capital and Voyager Digital. Celsius Network, LLC and its subsidiaries sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 22-10964) on July 14, 2022. In the petition filed by CEO Alex Mashinsky, the Debtors estimated assets and liabilities between $1 billion and $10 billion. The Debtors tapped Kirkland & Ellis, LLP and Kirkland & Ellis International, LLP as bankruptcy counsels; Fischer (FBC & Co.) as special counsel; Centerview Partners, LLC as investment banker; and Alvarez & Marsal North America, LLC as financial advisor. Stretto is the claims agent and administrative advisor. On July 27, 2022, the U.S. Trustee appointed an official committee of unsecured creditors. The committee tapped White & Case, LLP as its bankruptcy counsel; Elementus Inc. as its blockchain forensics advisor; M3 Advisory Partners, LP as its financial advisor; and Perella Weinberg Partners, LP as its investment banker. Shoba Pillay, Esq., is the examiner appointed in the Debtors' Chapter 11 cases. Jenner & Block, LLP and Huron Consulting Services, LLC, serve as the examiner's legal counsel and financial advisor, respectively. * * * On November 9, 2023, the Bankruptcy Court entered the Findings of Fact, Conclusions of Law, and Order Confirming the Modified Joint Chapter 11 Plan of Celsius Network LLC and Its Debtor Affiliates. The Effective Date of the Plan occurred January 31, 2024. CENTERFIELD MEDIA: S&P Assigns Prelim 'B-' Rating on Secured Notes ------------------------------------------------------------------ S&P Global Ratings assigned its preliminary 'B-' issue-level and '3' recovery ratings to Centerfield Media Parent Inc.'s $785 million proposed senior secured notes due 2030. The '3' recovery rating indicates our expectation for meaningful (50%-70%; rounded estimate: 55%) recovery for lenders in the event of a payment default. The company plans to use proceeds from the transaction to repay its outstanding senior secured notes that come due in August 2026. When the transaction closes, we expect to resolve the CreditWatch placement, raise our CCC+ issuer credit rating to 'B-' on Centerfield, and finalize our preliminary issue-level rating on the new notes. Issue Ratings--Recovery Analysis Key analytical factors -- The company's proposed capital structure comprises a $150 million priority senior secured revolving credit facility due 2030 (not rated) and $785 million of senior secured notes due 2030. -- Centerfield Media Parent Inc. is the borrower of the debt. A priority lien secures the revolving credit facility on substantially all the company's assets and those of its guarantors. Additionally, a first-lien secures the senior secured notes on all the company's assets and those of its guarantors outside the revolver collateral. Both the revolving credit facility and secured notes are guaranteed by the parent and its existing and future domestic subsidiaries. Simulated default assumptions -- S&P's simulated default scenario contemplates a default in 2027 because of a combination of a sharp decline in advertising and marketing spending (due to economic weakness) and key client losses or pricing pressure (due to increased competition). -- Other default assumptions include an 85% draw on the revolving credit facility, and the spread on the revolving credit facility rises to 5% as the company obtains covenant amendments. All debt includes six months of prepetition interest. -- S&P valued Centerfield on a going-concern basis using a 6x multiple of its projected emergence EBITDA, which is in line with that of other similarly sized digital marketing companies it rates. Simplified waterfall -- EBITDA at emergence: $105 million -- EBITDA multiple: 6.0x -- Gross enterprise value: $635 million -- Net enterprise value (after 5% administrative costs): $605 million -- Estimated priority debt claims: $130 million -- Value available for senior secured debt claims: $470 million -- Estimated senior secured debt claims: $830 million --Recovery expectations: 50%-70% (rounded estimate: 55%) CENTURY DESIGN: Court to Hold Cash Collateral Hearing Today ----------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of California is set to hold a hearing today to consider another extension of Century Design Inc.'s authority to use cash collateral. The Debtor was previously authorized to utilize cash collateral, which includes cash on hand, ongoing business income, and receivables, to fund operations. This interim authorization expires today. The cash collateral is subject to the secured interests of Bank of Southern California and Exim Bank, which are owed $214,017 and $593,055, respectively. A third secured creditor, Kid Finance, holds a claim for a leased vehicle not tied to the cash collateral. To satisfy the requirement of adequate protection under 11 U.S.C. section 361, the Debtor offers monthly payments of $2,000 and $2,500 to Bank of Southern California and Exim Bank, respectively. Additionally, the Debtor offers to grant both secured creditors replacement liens on post-petition assets equal in extent and priority to their pre-bankruptcy claims. The Debtor has no priority unsecured claims, and general unsecured claims total approximately $721,259. About Century Design Inc. Century Design Inc. designs and manufactures composite processing machinery for industries including aerospace, defense, automotive, marine, medical, sports, energy, and industrial applications. The Company develops equipment for prepreg production, resin development, ducting, hoses, and tubular structures, serving customers engaged in research, manufacturing, and product development worldwide. Founded in 1959, it has supplied thousands of machines globally and contributed to advances in materials processing technologies. Century Design sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Cal. Case No. 25-03975) on September 26, 2025. In its petition, the Debtor reports total assets of $174,341 and total liabilities of $1,536,142. The Debtor is represented by Michael Jay Berger, Esq. at Law Offices of Michael Jay Berger. CHICAGO SMILES: Court Extends Cash Collateral Access to Nov. 22 --------------------------------------------------------------- Chicago Smiles, LLC received sixth interim approval from the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division to use cash collateral. The sixth interim order authorized the Debtor's interim use of cash collateral through November 22 to fund business expenses in accordance with its budget, subject to a 10% variance. The budget projects total operational expenses of $77,715.06 for October and $67,715.06 for November. PNC Bank, National Association, a secured creditor, holds a claim of $490,233.61 as of the petition date and such claim is secured by a perfected lien on the Debtor's assets. Other potential secured creditors include BHG, CAN Capital Inc., and Revenued, LLC. In case of any diminution in the value of their interests in the cash collateral, the secured creditors will be granted post-petition security interests in and liens on the Debtor's assets similar to their pre-bankruptcy collateral. These replacement liens will have the same priority, validity and enforceability as their pre-bankruptcy liens. As additional protection, PNC Bank will receive a monthly payment of $3,500 under the approved budget. The next hearing is set for November 18. About Chicago Smiles LLC Chicago Smiles, LLC provides a range of dental services, including cosmetic, implant, and restorative dentistry. The practice offers treatments such as teeth whitening, veneers, crowns and bridges, dental implants, Invisalign, root canal therapy, and dentures. Located in Chicago, the clinic supports new patients with education on oral health, pain management, and various dental care options. Chicago Smiles sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ill. Case No. 25-07740) on May 21, 2025. In its petition, the Debtor reported estimated assets between $500,000 and $1 million and estimated liabilities between $1 million and $10 million. Judge Donald R. Cassling handles the case. William Factor, Esq., at The Law Office of William J. Factor, Ltd. is the Debtor's bankruptcy counsel. PNC Bank, N.A., as secured creditor, is represented by: Martin J. Wasserman, Esq. Carlson Dash, LLC 216 S. Jefferson St., Suite 303 Phone: 312-382-1600 mwasserman@carlsondash.com CLAROS MORTGAGE: CMTG JNP Increases JPMorgan Facility to $1.1-Bil. ------------------------------------------------------------------ Claros Mortgage Trust, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company and CMTG JNP Finance LLC, a wholly owned subsidiary of the Company, entered into that certain Amendment No. 1 to Amended and Restated Master Repurchase Agreement with JPMorgan Chase Bank, National Association that, among other things, increased the maximum facility amount to $1.1 billion. A copy of the amendment is available at https://tinyurl.com/2js3fj2z About Claros Mortgage Trust Inc. CMTG -- https://www.clarosmortgage.com/ -- is a real estate investment trust that is focused primarily on originating senior and subordinate loans on transitional commercial real estate assets located in major markets across the U.S. CMTG is externally managed and advised by Claros REIT Management LP, an affiliate of Mack Real Estate Credit Strategies, L.P. As of June 30, 2025, the Company had $5.82 billion in total assets, $4.07 billion in total liabilities, and a total equity of $1.76 billion. * * * In Aug. 2025, S&P Global Ratings lowered its issuer credit rating on Claros Mortgage Trust Inc. and issue rating on the company's senior secured debt to 'CCC' from 'CCC+'. S&P doesn't think the company's existing liquidity is sufficient to repay its $714 million term loan, which matures in August 2026, absent an amendment or refinancing. As of Aug. 5, 2025, CMTG's total available liquidity increased to $323 million, up from $136 million on March 31, 2025, and $102 million as of year-end 2024. The outlook remains negative. CLAROS MORTGAGE: CMTG JP Reduces JPMorgan Facility to $1.9 Billion ------------------------------------------------------------------ Claros Mortgage Trust, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that CMTG JP Finance LLC, a wholly owned subsidiary of the Company, entered into that certain Amendment No. 7 to Amended and Restated Master Repurchase Agreement with JPMorgan Chase Bank, National Association that decreased the maximum facility amount to $1.9 billion. A copy of the amendment is available at https://tinyurl.com/45kmy8f3. About Claros Mortgage Trust Inc. CMTG -- https://www.clarosmortgage.com/ -- is a real estate investment trust that is focused primarily on originating senior and subordinate loans on transitional commercial real estate assets located in major markets across the U.S. CMTG is externally managed and advised by Claros REIT Management LP, an affiliate of Mack Real Estate Credit Strategies, L.P. As of June 30, 2025, the Company had $5.82 billion in total assets, $4.07 billion in total liabilities, and a total equity of $1.76 billion. * * * In Aug. 2025, S&P Global Ratings lowered its issuer credit rating on Claros Mortgage Trust Inc. and issue rating on the company's senior secured debt to 'CCC' from 'CCC+'. S&P doesn't think the company's existing liquidity is sufficient to repay its $714 million term loan, which matures in August 2026, absent an amendment or refinancing. As of Aug. 5, 2025, CMTG's total available liquidity increased to $323 million, up from $136 million on March 31, 2025, and $102 million as of year-end 2024. The outlook remains negative. CMC ADVERTISING: Court Extends Cash Collateral Access to Nov. 3 --------------------------------------------------------------- CMC Advertising, Ltd received third interim approval from the U.S. Bankruptcy Court for the Northern District of Ohio to use the cash collateral of its secured creditors. The court's third interim order authorized the Debtor to use cash collateral through November 3 or until the occurrence of so-called termination events, in accordance with its budget, with up to 20% variance per line item and 15% aggregate flexibility. The main secured creditors that assert interest in the cash collateral include Huntington National Bank, Idea 247, Inc., the U.S. Small Business Administration and several merchant cash advance (MCA) creditors. The total value of the Debtor's cash and receivables was approximately $135,297 as of the petition date. As protection for any diminution in the value of their collateral, the secured creditors will be granted a replacement lien on the Debtor's property, with the same priority and extent as their pre-bankruptcy liens. In addition, Huntington and SBA will continue to receive monthly payments of $12,694.92 and $2,505, respectively, as further protection. The next hearing is set for October 23. Huntington holds two loans totaling over $752,000, while the SBA holds a COVID-19 Economic Injury Disaster Loan of $500,000, with roughly $480,000 outstanding. Idea 247 and the MCA lenders have security interests that are considered junior and may not constitute secured claims under Section 506(a) of the Bankruptcy Code. About CMC Advertising Ltd. CMC Advertising, Ltd. operating as Mailworks II, is an Ohio-based advertising company. CMC Advertising sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ohio Case No. 25-31341) on June 27, 2025, listing up to $500,000 in assets and up to $10 million in liabilities. Claude R. Montgomery, Jr., managing member of CMC Advertising, signed the petition date. Judge John Gustafson oversees the case. Eric R. Neuman, Esq., at Diller and Rice, LLC, represents the Debtor as legal counsel. COMPLEMAR PARTNERS: Gets OK to Tap Bond Schoeneck & King as Counsel ------------------------------------------------------------------- Complemar Partners, Inc. and its affiliates received approval from the U.S. Bankruptcy Court for the Western District of New York to employ Bond, Schoeneck & King, PLLC as counsel. The firm's services include: (a) advise the Debtors regarding their function and duties; (b) advise the Debtors regarding matters of bankruptcy law; (c) represent the Debtors in proceedings and hearings in the United States District and Bankruptcy Courts for the Western District of New York; (d) assist in the preparation of the Debtors' schedules of assets and liabilities and statement of financial affairs; (e) negotiate with all creditors, including secured lenders; (f) examine liens against property of the estates; (g) negotiate with taxing authorities, if necessary; (h) prepare and file on behalf of the Debtors all necessary legal papers in the administration of the estate; (i) take all necessary action to protect and preserve the Debtors' estates; (j) provide assistance, advice and representation with respect to any sale or proposed sale of all or any assets of the Debtors' bankruptcy estates; (k) provide assistance, advise and represent concerning the confirmation of any proposed plan(s) and solicitation of any acceptances or responding to rejections of such plan(s); (l) provide assistance, advise and represent concerning any investigation of the assets, liabilities and financial condition of the Debtors that may be required under local, state or federal law; (m) provide counsel and represent with respect to assumption or rejection of executory contracts and leases, sales of assets and other bankruptcy-related matters arising from these Chapter 11 cases; (n) advise the Debtors regarding all legal matters arising during these Chapter 11 cases; and (o) perform all other pertinent and required representation in connection with the provisions of the Bankruptcy Code. The firm's hourly rates range from $180 to $750. In addition, the firm will seek reimbursement for expenses incurred. Prior to the filing of the petition, the Debtors paid the firm a retainer in the amount of $190,000. Sara Temes, Esq., an attorney at Bond, Schoeneck & King, 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: Sara Temes, Esq. Bond, Schoeneck & King PLLC 600 Third Avenue, 22nd Floor New York, NY 10016 Telephone: (646) 253-2300 Facsimile: (646) 253-2301 About Complemar Partners Complemar Partners, Inc. provides fulfillment, co-packing and kitting, and returns management services, leveraging technology and integrated solutions to support supply chain operations. Headquartered in Rochester, New York, the Debtor operates over 400,000 square feet of warehouse space, handling more than 680 million items annually and serving over 1,000 customers across more than 30 countries. It serves clients in e-commerce, health and beauty, subscription boxes, telecom, and wine and spirits industries. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. N.Y. Case No. 25-20610) on August 28, 2025, listing between $10 million and $50 million in assets and liabilities. David Van Rossum, chief executive officer, signed the petition. Judge Warren oversees the case. Sara C. Temes, Esq., at Bond, Schoeneck & King PLLC, represents the Debtor as legal counsel. CONROE LOCAL: S&P Cuts Second-Lien Revenue Bonds Rating to 'CCC-' ----------------------------------------------------------------- S&P Global Ratings lowered the rating on Conroe Local Government Corp.'s (CLGC) series 2021B subordinate second-lien hotel revenue bonds by one notch to 'CCC-' from 'CCC'. S&P said, "Absent any material future improvement of the hotel's operational and financial performance resulting in it outperforming our base case, we anticipate a default on the subordinate debt in April 2026. "We affirmed our 'B' rating on CLGC's series 2021A senior first-lien hotel revenue bonds, supported by the hotel's recent performance that tracked in line with our base case." The negative outlook on the senior and subordinate bond ratings reflects ongoing risks of weaker-than-expected demand and or higher operating costs before the hotel stabilizes, or the fact that it could stabilize at a much lower revenue per available room (RevPAR) than originally expected. The project has hired a hotel consultant as permitted under the project documents when the debt service coverage ratios (DSCRs) for senior and subordinate bonds is below 1.25x for four consecutive quarters. S&P anticipates revising its forecast upon review of the hotel consultant's report and management's fiscal 2026 budget. The recovery rating for the senior debt is '4', indicating average recovery (30%-50%; rounded estimate: 40%), and the recovery rating for the subordinated debt is '6', indicating negligible (0%-10%) recovery in the event of a payment default on senior debt. The CLGC, a political subdivision of the State of Texas and City of Conroe, Texas, issued $28.715 million of first-lien hotel revenue bonds series 2021A, $27.16 million of second-lien hotel revenue bonds series 2021B, and $21.215 million of third-lien hotel revenue and subordinated contract revenue bonds series 2021C. The series 2021C bonds are backed by the city's sales tax and not rated by S&P Global Ratings. The proceeds of series 2021A, 2021B, and 2021C bonds were used to 1) finance the costs to design, acquire, construct, equip, furnish, and open the hotel facilities in the full-service, upper-upscale, 250-room Hyatt Regency hotel located south of Downtown Conroe, 2) fund capitalized interest accounts and debt service reserves, and 3) pay certain issuing costs. Hotel facilities include 250 guestrooms, food and beverage facilities (restaurants and lounges), back-of-the-house areas and food preparation facilities, and other amenities (pool, fitness center, and business center). Separately, the City of Conroe issued certificates of obligation (COs) and obtained a loan and cash contribution from Conroe Industrial Development Corp. to fund the construction of the city facilities of the hotel. The COs are secured by the city's property tax revenue and rated 'AA+', equivalent to our general obligation rating on the City of Conroe. City facilities include convention center facilities in the hotel (31,000 square feet of ballrooms and conference rooms), the parking garage adjacent to the hotel, and certain public facilities. Though the hotel facilities and city facilities of the hotel are funded with different capital structures, our ratings for series 2021A and 2021B consider both facilities' cash flows as part of the operations phase because the rated bonds are repaid with net revenues from both the city facilities and the hotel facilities, both of which are operated under one hotel service agreement with Hyatt. The series 2021A first-lien and 2021B second-lien bonds are secured by assets held in the trust estate as established in indenture, the second-lien bonds being subordinate to the first-lien bonds. The trust estate comprises net operating revenue from the hotel and all amounts in the project's funds and accounts held by the trustee under the indenture. CLGC owns the hotel facilities, and the City of Conroe owns the city facilities and the land. CLGC and the city entered into a ground lease agreement under which the city as lessor leases the land that both the hotel and city facilities are on to CLGC for $1 dollar per year for a period of the earlier of 40 years after bond issuance or until bond repayment. The project's construction started in October 2021, and it reached substantial completion on April 19, 2023. The hotel has been open to the public since May 2023. Garfield Public/Private LLC is the project developer, and its fully owned subsidiary is the asset manager. S&P said, "We lowered the second-lien subordinate debt rating to 'CCC-' because the project's liquidity dedicated to second-lien subordinate debt is not sufficient to cover its next debt service payment in April 2026, when we expect a default. The project has been draining its liquidity to pay second-lien debt service since the hotel opened in 2023. For fiscal year (FY) 2025, the project needs to pay $1.85 million of second-lien debt service, which was fully covered by draws from the second-lien debt service reserve account (DSRA). The second-lien DSRA balance dropped to $114,802 after paying the second-lien debt service due on Oct. 1, 2025. By April 2026, $632,965 of second-lien interest will be due. "Under our base-case forecast, CLGC will default on that payment due to insufficient operating cash flow available for second-tier debt service and near depletion of the DSRA following the October payment. To avoid a default, RevPAR would need to exceed our base-case assumption by more than 25%, or the project would need access to external funding. Weaker-then-expected hotel performance leads to a minimal amount of hotel operating net cash flowing into the second-lien debt tranche in 2025 based off year-to-date (YTD) actuals and no operating cash flowing into the second-lien debt tranche in our 2026 projection, which then causes a material depletion of the second-lien DSRA. Therefore, we expect a default over the next six months due to insufficient cash and lack of liquidity for the second-tier debt, which maps the second-lien subordinate debt rating to 'CCC-'." Hyatt Regency Conroe's YTD occupancy and average daily rate (ADR) tracked closely to our most recently revised base-case forecast, and its profit margin improved. During October 2024 to August 2025 (11 months into FY 2025), the hotel reported 50.7% occupancy and $162 ADR, in line with S&P's base-case 51% occupancy and $166 ADR forecasts for the year. It is worth noting that when we assigned the rating in 2021, expected occupancy was above 60%. About 60% of the hotel's demand over the last 11 months was attributable to transient demand. Compared with targeted peers in The Woodlands, where the competitive set achieved over 71% occupancy and $238 ADR for July YTD, we believe the Hyatt Regency Conroe is still facing a material challenge to capture enough market share as expected in its original value proposition. The hotel has shifted its strategy to focus on gaining share from the Conroe local market. By discounting ADR, the hotel could benefit from a short-term rise in demand with guests seeking better value. YTD gross operating profit (GOP) margin rose to 26.6%, higher than our 20.7% base case. Higher profit on food and beverage due to more weddings and banquets and lower operating costs contributed to the margin improvement. S&P said, "However, given the hotel's current ADR discounting strategy, we believe the GOP margin may not be sustainable over the long term because of the costs of maintaining a high-quality product in the Conroe market. We are not currently giving credit to these cost savings in our forecast despite the potential upside. We largely maintained our base-case forecast with slight adjustments to reflect updated contractual costs including higher-than-expected insurance costs and a deferred asset manager fee, and we adjusted for S&P Global Ratings' most recent CPI forecast published on Sept. 23, 2025. "Our senior debt rating is affirmed at 'B', supported by the hotel's recent performance and our expectation that based on YTD cash flow available for debt service (CFADS) of $3.9 million, operational cash flows are able to cover debt service in 2025 and we expect 2026 operating cash flows to be enough to cover majority of senior debt service. "Under our base case, coverage has improved slightly to about 1x and is now consistent with a preliminary operations phase stand-alone credit profile (SACP) of 'b', while resiliency in the downside is now assessed as low. This differs from our previous preliminary operations phase SACP of 'b-', which was based on a DSCR of 0.86x in 2025. The change in DSCR is driven by the shift in the start of the forecast from 2025 to 2026, in which the new minimum DSCR occurs. "We have revised the start of our forecast to 2026 because FY 2025 ended in September 2025 and we have 11 months of operational and financial data. Our new minimum DSCR of about 1x occurs in 2026 and maps to a preliminary operations SACP of 'b' (vs 'b-' previously). Under our downside, liquidity is depleted by 2028. As a result, we revised our resiliency assessment to low from modest. With low resiliency, the preliminary SACP does not receive a notch uplift as it did previously. Thus, the operations phase SACP remains unchanged at 'b'. "The negative outlook on CLGC's senior debt reflects that while we forecast the hotel's senior DSCR will be 0.79x for FY 2025, we expect its FY 2026 senior DSCR to also be under 1.0x before gradually improving. But the current 'B' senior rating has little cushion. We assume occupancy levels will slowly improve (53% in 2026, 56% in 2027, and 59% in 2028). This compares with actual occupancy of 50.7% YTD ended August 2025. "If occupancy remains flat, DSCRs are likely to remain under 1.0x through 2028 and, absent material and cost reductions, would trigger a downgrade. Our updated forecast could modestly improve if the hotel achieves some expense reduction, but we are not embedding those in our forecast because we are uncertain whether they are sustainable. "We expect to revise our forecast in the next three to six months, which could result in a more negative view. Important inputs to this update are year-end results and management's 2026 budget. Under the trust indenture and hotel services agreement, CLGC hired a consultant to produce recommendations to improve hotel profitability. Its report may also provide actionable recommendations to achieve improved performance, which we will consider. We presume no support from the City of Conroe, which has in the past contributed modest, ad hoc funds to support operations. "For subordinate debt, without positive developments in hotel performance, we anticipate a default on April 1, 2026, under our base case, when we project the subordinate DSRA would be depleted. "We could lower the senior debt rating if the hotel underperforms our base-case occupancy and ADR forecast or incurs significantly higher-than-expected costs that lead to additional draws from its first-lien DSRA under our base case. We could also lower the rating if, following review of the consultant's report and 2026 budget, we determine there will not be a meaningful and sustained improvement in CFADS. In this scenario, we would expect occupancy rates remain in the low- to mid-50% area, limiting gross operating margins to the mid-20% area and causing its senior DSCR to persistently remain close to 1x. "For the subordinated debt, we could lower the rating to 'CC' when we expect default to be a virtual certainty, which would occur in the event of CLGC announcing that it will miss subordinated debt service payment or announcing its intention to undertake an exchange offer or similar restructuring that we classify as distressed for the subordinated debt. "We could revise outlook on CLGC's senior debt to stable if the hotel meets our base-case forecast to produce DSCRs that are stabilized at comfortably above 1.0x and reserve balances are not drawn. We could also raise the senior debt rating if the hotel ramps up significantly better than our base-case forecast, leading to a minimum base-case senior DSCR close to 1.5x, which is not expected in the next two to three years. "We could upgrade the subordinated debt rating if we do not envision a default on April 1, 2026, which would occur in the event that the City of Conroe makes a cash injection to meet the subordinated debt service payment, which our forecast does not assume." COSMOS HEALTH: Theodoros Karkantzos Joins Board ----------------------------------------------- Cosmos Health Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Board of Directors appointed Theodoros C. Karkantzos, effective immediately, to serve as a member of the Board. Mr. Karkantzos was elected a director of the Company at the annual general meeting of the stockholders of the Company on September 30, 2025, with an initial term expiring on the date of the Company's 2026 annual meeting of stockholders. Effective September 30, 2025, the Board appointed Mr. Karkantzos to serve as a member of the Nominating and Corporate Governance Committee of the Board. Mr. Karkantzos brings over 15 years of experience in investment and business development. He was Co-Founder of Blue Dot Digital Agency, in 2017, a global digital marketing and corporate communications firm. He is a private investor focused on real estate, healthcare, equities, and hospitality. His expertise spans finance, strategy, private equity, and asset management, developed through both entrepreneurial ventures and leadership roles across Europe. He holds an MPhil in Real Estate Finance from the University of Cambridge, graduating with distinction and receiving the Alistair Ross-Goobey Prize for best overall performance and the Royal Institution of Chartered Surveyors Award in Real Estate Investment and Risk Analysis. He also holds a BSc in Management from the University of Warwick, graduating with First Class Honors. Mr. Karkantzos will receive cash and equity compensation. He will receive a cash fee of $5,000 for his participation in the Nominating & Corporate Governance Committee, as well as an annual cash fee of $10,000 as a Board Participation fee. He will also be granted shares under the Company's 2025 Omnibus Incentive Plan, a copy of which was filed with the Securities and Exchange Commission on August 22, 2025, as an Exhibit A to the Definitive Proxy Statement of the Company on Form 14A and is incorporated herein by reference. There was no arrangement or understanding between Mr. Karkantzos and any other person with respect to his appointment to the Board of Directors. From July 1, 2024 to August 28, 2025, Mr. Karkantzos provided consulting services to the Company in his capacity as director of C Capital Media Ltd., a consulting company. The Company did not pay any cash or equity compensation to Mr. Karkantzos for the afore-mentioned services as a consultant. Except as disclosed herein, there have been no transactions, nor are there any currently proposed transactions, in which the Company was or is to be a participant and in which Mr. Karkantzos, or any member of his immediate family, had, or will have, a direct or indirect material interest. About Cosmos Health Cosmos Health Inc. (Nasdaq: COSM), incorporated in 2009 in Nevada, is a diversified, vertically integrated global healthcare group. The Company owns a portfolio of proprietary pharmaceutical and nutraceutical brands, including Sky Premium Life, Mediterranation, bio-bebe, and C-Sept. Through its subsidiary, Cana Laboratories S.A., which is licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency, it manufactures pharmaceuticals, food supplements, cosmetics, biocides, and medical devices within the European Union. As of June 30, 2025, Cosmos Health had $61,835,560 in total assets, $35,603,926 in total liabilities, and a total stockholders' equity of $26,231,633. New York, N.Y.-based RBSM LLP, 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 substantial operating losses and will require additional capital to continue as a going concern. This raises substantial doubt about the Company's ability to continue as a going concern. CREATIVE STARS: Court Extends Cash Collateral Access to Oct. 29 --------------------------------------------------------------- Creative Stars Academy, LLC received another extension from the U.S. Bankruptcy Court for the District of Minnesota to use cash collateral. The second order extended the Debtor's authority to use cash collateral from October 15 to 29 according to the supplemental projections filed in support of the motion. Creditors with pre-bankruptcy liens, including Fora Financial Business Loans, LLC and Mint Funding, Inc., will be granted replacement liens on the Debtor's post-petition assets, with the same validity and priority as their pre-bankruptcy liens. These replacement liens exclude Chapter 5 causes of action and their proceeds. The final hearing is scheduled for October 29. Creative Stars Academy's cash collateral is estimated at $15,039 on the petition date. The Debtor intends to use its cash collateral to continue business operations, primarily by paying ongoing bills and employee obligations. The Debtor's business is experiencing liquidity shortages due to challenges arising from COVID-19 and severe mold issues at one of its locations. These problems led to the Debtor falling behind on tax obligations, and subsequently, state taxing authorities began levying revenues received through Minnesota's Child Care Assistance and Compensation Programs. In response, the Debtor took out high-interest loans from several Merchant Cash Advance lenders, including Fora Financial and Mint Funding. The Debtor criticizes MCA practices as predatory, noting that they often include exorbitant interest rates and aggressive collection tactics. About Creative Stars Academy LLC Creative Stars Academy, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Minn. Case No. 25-33151) on October 3, 2025. In the petition signed by Jillaine Mertens, owner, the Debtor disclosed up to $50,000 in assets and up to $1million in liabilities. Judge Mychal A. Bruggeman oversees the case. Jeffrey Butwinick, Esq., at Butwinick Law Office, represents the Debtor as legal counsel. DARE BIOSCIENCE: Law Custodial Holds 15.9% Equity Stake ------------------------------------------------------- Law Custodial Inc. disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of September 29, 2025, it beneficially owns 1,409,167 ordinary shares of Dare Bioscience, Inc., representing approximately 15.9% of 8,871,155 shares of ordinary stock outstanding as of June 30, 2025, as reported by the Company on August 14, 2025. This total includes shares held as trustee with sole voting and dispositive power over 795,271 ordinary shares. Law Custodial Inc. may be reached through: Shane Frederick Weir, Director 6/F, Wings Building, 110-116 Queen's Road Central Central, Hong Kong, 00000 Tel: 852 2838 8887 A full-text copy of Law Custodial Inc.'s SEC report is available at: https://tinyurl.com/3yykvy5h About Dare Bioscience Dare Bioscience, Inc. is a biopharmaceutical company committed to advancing innovative products for women's health. The Company's mission is to identify, develop, and bring to market a diverse portfolio of differentiated therapies that prioritize women's health and well-being, expand treatment options, and improve outcomes, primarily in the areas of contraception, vaginal health, reproductive health, menopause, sexual health, and fertility. Irvine, California-based Haskell & White LLP, the Company's auditor since 2023, 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 Dec. 31, 2024, citing that the Company has recurring losses from operations and is dependent on additional financing to fund operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. As of June 30, 2025, the Company had $12.98 million in total assets, $25.71 million in total liabilities, and $12.73 million in total stockholders' deficit. DEPLOYED SOLDIERS: Court Extends Cash Collateral Access to Nov. 30 ------------------------------------------------------------------ Deployed Soldiers Network, LLC received interim approval from the U.S. Bankruptcy Court for the District of Maryland to use cash collateral through November 30 to fund operations. The court authorized the Debtor to use cash collateral, which consists of cash, receivables and future receivables, in accordance with its budget. Any expenditure exceeding 10% of any line item of the budget requires approval from the Subchapter V trustee, the U.S. trustee and First Business Bank, Inc., the Debtor's secured lender. The Debtor projects total operational expenses of $54,338.04 for both October and November. As adequate protection, First Business Bank (also known as First Business Specialty Finance, LLC) will be granted replacement liens on its pre-bankruptcy bankruptcy collateral and the proceeds generated by the Debtor's use of the collateral. These replacement liens will have the same validity, priority and extent as the lender's pre-bankruptcy liens. A final hearing is scheduled for November 24. Objections are due by November 14. The Debtor previously entered into a loan agreement with First Business Bank, which asserts a first-position lien on the Debtor's cash and cash equivalents under a UCC-1 financing statement filed on June 10. However, the Debtor argued that no lien has been perfected on its bank accounts and that any such lien may be avoidable or wholly unsecured under bankruptcy law. The Debtor's operations include providing internet services to U.S. service members deployed in Kosovo, as well as offering roofing and consulting services. The business currently generates approximately $39,375 in monthly revenue and owns equipment, tools, and bank accounts, including unsecured vehicle assets valued at around $25,000. About Deployed Soldiers Network LLC Deployed Soldiers Network, LLC is an information technology company that appears to provide specialized IT services related to military personnel or veterans. Deployed Soldiers Network sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 25-17821) on August 26, 2025. In its petition, the Debtor reported between $500,000 and $1 million in assets and liabilities. The Debtor is represented by: David Erwin Cahn Law Office Of David Cahn, LLC Tel: 301-799-8072 Email: david@cahnlawoffice.com DEVILS RIVER: Court Rejects Chapter 11 Reorganization Plan ---------------------------------------------------------- Patrick Danner of San Antonio Express News reports that Devils River Whiskey's hopes of exiting bankruptcy were derailed after a judge rejected its Chapter 11 reorganization plan, raising doubts about the San Antonio distillery's survival. Chief U.S. Bankruptcy Judge Craig Gargotta ruled that the company had not provided enough proof that it could make required payments to creditors, as outlined under federal bankruptcy law, according to the report. In his ruling, Judge Gargotta criticized the distillery's business plan as unrealistic, citing "all over the place" financial projections and ongoing losses despite some improvement. He urged Devils River to return to the negotiating table with its main creditor, LSD Lending LLC, which is owed approximately $3.8 million. Following the court's decision, LSD issued a default notice against the company. The distillery entered bankruptcy protection in May 2025 to avoid foreclosure, banking on an aggressive sales recovery strategy that projected doubling production within three years. Devils River has since asked the court to reconsider its case and allow it to present additional evidence supporting its plan. Despite the ruling, company executives say they remain optimistic about a potential restructuring deal. About Devils River Holdings Devils River Holdings, LLC produces premium small-batch whiskeys under the Devils River Whiskey brand. Based in San Antonio, Texas, the Company sources limestone-filtered water from the Devils River to craft its Bourbon, Rye, and flavored whiskey offerings. Devils River Holdings filed Chapter 11 petition (Bankr. W.D. Texas Case No. 25-50959) on May 1, 2025, listing up to $10 million in both assets and liabilities. Michael P. Cameron, chief executive officer and president, signed the petition. Martin & Drought, P.C. is the Debtor's legal counsel. DIGITAL ALLY: Yield Point, Yisroel Kluger Hold 9.9% Stake --------------------------------------------------------- Yield Point NY LLC and Yisroel Ari Kluger, disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of October 3, 2025, they beneficially own 191,722 shares of common stock of Digital Ally, Inc., representing approximately 9.9% of the outstanding common shares. This ownership includes shares issuable upon exercise of warrants and conversion of a senior secured convertible note, subject to a beneficial ownership limitation (Blocker) that prevents ownership exceeding 9.99% of total outstanding shares. The total shares outstanding as of October 2, 2025, were 1,727,421 shares. Yield Point NY LLC r may be reached through: Yisroel Ari Kluger, Director 477 Madison Avenue, 24th Floor New York, N.Y. 10022 Tel: 917-923-7072 A full-text copy of Yield Point's SEC report is available at: https://tinyurl.com/mry3nkn5 About Digital Ally Digital Ally Inc. operates across three segments: Video Solutions, Revenue Cycle Management, and Entertainment. The Video Solutions unit provides video recording systems, cloud services, and safety products for law enforcement and commercial clients. The Revenue Cycle Management segment offers financial and administrative support services to healthcare providers, helping manage billing and back-office operations. Its Entertainment division manages ticket resale through TicketSmarter and produces live events, including music festivals. In an auditor's report dated May 2, 2025, RBSM LLP, issued a "going concern" qualification, noting that the Company has incurred substantial operating losses and will need additional capital to continue as a going concern. This raises substantial doubt about the Company's ability to continue as a going concern. As of June 30, 2025, the Company had $25.96 million in total assets, $17.81 million in total liabilities, and a total equity of $8.14 million. DIOCESE OF ALBANY: Seeks to Tap The Appraisal Company as Appraiser ------------------------------------------------------------------ The Roman Catholic Diocese of Albany, New York seeks approval from the U.S. Bankruptcy Court for the Northern District of New York to employ The Appraisal Company as appraiser. The Debtor needs an appraiser to assess and determine the value of its properties, in conjunction with a sale of proeprties or the monetization of the value of those properties through borrowing or other financing mehanisms to contribute to funding a plan to pay the Diocese's creditors, including, among others, those survivors holding allowed claims asserted pursuant to the New York Child Victims Act of its estate and creditors. The firm will be paid at a flat fee of $3,500. William Moore, an appraiser at The Appraisal Company, 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: William A. Moore The Appraisal Company P.O. Box 4596 Saratoga Springs, NY 12866 Telephone: (518) 583-6188 About Roman Catholic Diocese of Albany, New York The Roman Catholic Diocese of Albany is a religious organization in Albany, N.Y. It covers 13 counties in Eastern New York, including a portion of the 14th county. Its Mother Church is the Cathedral of the Immaculate Conception in the city of Albany. New York's Child Victims Act, which took effect in August 2019, temporarily sets aside the usual statute of limitations for lawsuits to give victims of childhood sexual abuse a year to pursue even decades-old claims. Hundreds of new lawsuits have been filed against churches and other institutions since the law took effect on Aug. 14, 2019. Facing the financial weight of new sexual misconduct lawsuits, at least four of the eight Roman Catholic dioceses in the state, has already sought Chapter 11 protection. The dioceses that have declared bankruptcy include the Diocese of Rochester and the Diocese of Rockville Centre on Long Island. The Catholic Diocese of Albany sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D.N.Y. Case No. 23-10244) on March 15, 2023. In the petition filed by Fr. Robert P. Longobucco, the Debtor estimated assets between $10 million and $50 million and liabilities between $50 million and $100 million. Judge Robert E. Littlefield, Jr. oversees the case. The Debtor tapped Nolan Heller Kauffman, LLP as bankruptcy counsel; Tobin and Dempf, LLP as special litigation counsel; Keegan Linscott & Associates, PC as financial advisor; and Bonadio & Co., LLP as accountant. Donlin, Recano & Company, Inc. is the claims and noticing agent. On April 17, 2023, the U.S. Trustee for Region 2 appointed two separate committees to represent unsecured creditors and tort claimants in the Debtor's Chapter 11 case. The unsecured creditors' committee tapped Lemery Greisler, LLC as legal counsel; Dundon Advisors, LLC as financial advisor; and OneDigital Investment Advisors, LLC as special investment consultant. Stinson, LLP and OneDigital Investment Advisors serve as the tort committee's legal counsel and special investment consultant, respectively. DIOCESE OF SYRACUSE: Gets Court OK for 9 Insurance Settlements -------------------------------------------------------------- Ben Zigterman of Law360 reports that on October 15, 2025, a New York bankruptcy judge approved nine additional settlements with insurance companies connected to the Roman Catholic Diocese of Syracuse, marking significant progress in the diocese's Chapter 11 bankruptcy case. The agreements represent the final batch of insurer settlements designed to fund compensation for abuse survivors and support the diocese's financial reorganization, according to the report. These latest approvals build on two earlier insurance deals that received court approval in August 2025. Together, the settlements move the diocese closer to finalizing its reorganization plan and emerging from bankruptcy protection after years of litigation and negotiations, the report states. About The Roman Catholic Diocese of Syracuse The Roman Catholic Diocese of Syracuse, New York -- http://www.syracusediocese.org/-- through its administrative offices (a) provides operational support to the Catholic parishes, schools and certain other Catholic entities that operate within the territory of the Diocese in support of their shared charitable humanitarian and religious missions; (b) conducts school operations by managing tuition and scholarship payments, employee payroll, and other school-related operating expenses for separately incorporated Diocesan schools, as well as providing parish schools with financial, operational and educational support; and (c) provides comprehensive risk management services to the OCEs through the Diocese's insurance program. The Roman Catholic Diocese of Syracuse, New York filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bank. N.D.N.Y. Case No. 20-30663) on June 19, 2020. Stephen A. Breen, chief financial officer, signed the petition. At the time of filing, the Debtor estimated $10 million to $50 million in assets and $50 million to $100 million in liabilities. Judge Margaret M. Cangilos-Ruiz oversees the case. Bond, Schoeneck and King, PLLC, serves as the Debtor's bankruptcy counsel. The Debtor also tapped Mullen Coughlin LLC as special counsel, Arete Advisors LLC as cybersecurity consultant, and Moxfive LLC as technical advisor. Stretto is the claims agent and administrative advisor. The U.S. Trustee for Region 2 appointed a committee to represent unsecured creditors in the Debtor's bankruptcy case. The committee tapped Stinson, LLP, Saunders Kahler, LLP and Berkeley Research Group, LLC, as its bankruptcy counsel, local counsel and financial advisor, respectively. DSR LAND: Section 341(a) Meeting of Creditors on November 13 ------------------------------------------------------------ On October 6, 2025, DSR Land LLC filed Chapter 11 protection in the District of Minnesota. According to court filing, the Debtor reports $2,032,873 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. A meeting of creditors under Section 341(a) to be held on November 13, 2025 at 10:00 AM. Location: TELECONFERENCE ONLY. About DSR Land LLC DSR Land LLC is a single-asset real estate entity under 11 U.S.C. Section 101(51B) and holds fee simple ownership of a property at 650 Dutch Lake Drive in Howard Lake, Minnesota, valued at $1 million. DSR Land LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Minn. Case No. 25-43282) on October 6, 2025. In its petition, the Debtor reports total assets of $1,007,500 and total liabilities of $2,032,873. Honorable Bankruptcy Judge Katherine A. Constantine handles the case. The Debtor is represented by Mary Sieling, Esq. of SEILING LAW, PLLC. EASTMAN KODAK: S&P Alters Outlook to Negative, Affirms 'CCC+' ICR ----------------------------------------------------------------- S&P Global Ratings revised its outlook on Eastman Kodak (Kodak) to negative from stable, and S&P affirmed the 'CCC+' issuer credit rating. The negative outlook reflects growth challenges and weak free operating cash flow (FOCF) generation, which S&P believes could heighten the risk related to refinancing its May 2026 debt maturities. S&P believes the limited growth prospects of Kodak's core print segment and the company's weak profitability heighten the risk associated with refinancing its May 2026 debt maturities. Kodak's term loan maturity accelerated to May 2026 from August 2028 because the series B preferred stock has not been extended or refinanced past the mandatory redemption date of May 28, 2026. While $500 million of total proceeds and assets from the Kodak Retirement Income Plan (KRIP) will facilitate debt reduction, S&P believes the company's ability to refinance any remaining principal at favorable market terms is uncertain, and visibility into its long-term capital structure remains low. S&P said, "We anticipate Kodak will have cash-flow deficits and maintain leverage well above 10x in 2025. This is primarily due to the inability of its faster-growing, higher-margin Advanced Materials and Chemicals (AM&C) division to fully offset challenges in the print business. "We now assess Kodak's liquidity as weak, and we expect the FOCF deficit to reduce financial flexibility over the next 12 months. The company's $477 million term loan, $50 million cash collateralized letters of credit facility, and $99 million 4% series B preferred shares are due in May 2026. In December 2025, we expect management will use $300 million of KRIP proceeds to reduce debt to the minimum under its credit agreement, leaving about $175 million in term loans outstanding. It expects to monetize the remaining $200 million of illiquid assets after the debt maturity date, but the timing is unclear. "Given that Kodak is unlikely to address its maturities before May 2026 with internal liquidity, we believe this introduces uncertainty around the company's near-term financial flexibility and raises some questions about its long-term capital structure. Kodak has about $155 million in unrestricted cash (about $85 million held outside the U.S.) and the potential to tap other sources, like its $100 million equity sale agreement or current restricted cash balances. It could also convert its series B preferred shares, though we view this as unlikely. Using all available cash to address maturities will materially weaken Kodak's liquidity position. "We anticipate that Kodak's annual FOCF deficit will moderate to about $20 million in 2025 from about $100 million for the trailing-12-month period ended June 30, 2025, as cash interest savings are offset by weak operating performance and ongoing investments in long-cycle initiatives, such as its pharmaceutical manufacturing facility. We believe this sustained cash burn limits Kodak's ability to organically replenish liquidity and increases its reliance on external capital. Kodak elected payment-in-kind (PIK) interest on its term loans up to six quarters, but this only offers temporary relief, reducing annual cash interest outflows by approximately $25 million-$30 million. It's unclear whether a refinancing, if any, will preserve this flexibility. We're not aware of any transactions. "We believe it's likely that Kodak will be able to reduce leverage materially once it receives the funds remaining after liquidating its pension assets and repaying debt. While the timing of this is unclear, it does suggest a potential avenue for meaningful debt reduction. If Kodak receives the funds it expects, it could reduce S&P Global Ratings-adjusted leverage to about 14x in 2025 from a very elevated 25x+ in 2024. In addition, it may be able to lower leverage further--to about 7.8x--by repaying more debt with proceeds from the remaining $200 million of pension assets in 2026. In August 2025, holders of its $125 million 5% Series C preferred stock converted into common equity, reducing immediate refinancing needs. "In our view, Kodak's longer-term growth prospects hinge on pharmaceuticals and specialty chemicals. While declines in the company's traditional print and imaging business have moderated somewhat recently, it's still a major revenue source (over two-thirds). This business is shrinking due to competition from digital alternatives, and its profitability has been weak this year. Kodak's growing AM&C group bodes well for its prospects, but the segment's revenues don't yet fully offset the continued erosion in the print segment. The AM&C segment also has stronger profitability, with an operational EBITDA margin (management defined) of about 10% compared with negative print margins. Accordingly, the company faces high execution risk in managing print revenue declines. We believe it might not be able to effectively restructure its cost structure to improve overall profitability. "We believe Kodak's prospects partly rest on it successfully scaling up its pharmaceutical operations and navigating regulatory approvals. It has made targeted investments in pharmaceutical manufacturing, including the registration of its cGMP facility with the U.S. Food and Drug Administration that may support new product opportunities." These developments suggest a potential shift toward higher-margin product categories that could diversify revenue and improve profitability over the longer term. Kodak's emphasis on domestic manufacturing and its alignment with potential trade protections could enhance its competitive positioning in U.S. markets. Nonetheless, execution risk remains elevated, particularly in scaling pharmaceutical operations and navigating regulations. While 2025 will likely be characterized by stabilizing revenue and continued margin pressure, Kodak's strategic pivot toward specialty chemicals and pharmaceutical manufacturing could improve operating performance in 2026. S&P said, "The negative outlook is based on Kodak's growth challenges and weak FOCF generation, which we believe could heighten refinancing risk related to its May 2026 debt maturities. Although KRIP proceeds could mitigate some of the refinancing needs, we expect negative FOCF and debt to EBITDA above 10x in 2025, as growth in advanced materials and chemicals is unlikely to offset headwinds in the print segment. "We could downgrade the company if we believe the risk of a near-term liquidity event has increased, or if it appears likely that the company will pursue a debt refinancing or amend-and-extend transaction that we consider less than the original promise or a distressed exchange." S&P could revise the outlook to stable if the company: -- Repays debt as planned and addresses its near-term maturities at favorable market terms; and -- Maintains adequate liquidity to support debt service and business investments. For S&P to consider an upgrade to 'B-', the company would need to manage declining revenues in its print business while leveraging growth in its AM&C segment to stabilize operations, expanding EBITDA and generating sustainable positive FOCF. EL DORADO: Seeks to Sell Vehicles at Auction -------------------------------------------- Dawn M. Ragan, duly appointed chapter 11 trustee of Hugoton Operating Company, Inc., and El Dorado Gas & Oil, Inc. and in that capacity, the Independent Manager of Bluestone Natural Resources II - South Texas, LLC, and the Independent Director of World Aircraft, Inc., seeks permission from the U.S. Bankruptcy Court for the Southern District of Mississippi, in a seventh motion, to sell Vehicles at auction property, free and clear of liens, claims, interests, and encumbrances. The Trustee has undertaken efforts to locate, identify and secure property of the Debtors. To date, the Trustee has identified extensive amounts of equipment, machinery, and other personal property owned by the Debtors and stored and housed in over 37 different locations across several states and Canada. The equipment and machinery are stored and stacked up in yards in such a way that it is nearly impossible to safely access and inventory all equipment without first selling and removing accessible personal property stacked in front of each lot. The Trustee has retained Tiger Capital Group, LLC, to assist with the process of inventorying, cataloguing, and, where appropriate, selling each item of equipment; a process that will take months as property is sold and removed and lots cleared to provide access to other property located in the rear. The Trustee seeks to sell certain vehicles owned by El Dorado or World Aircraft. Details of the vehicles to be sold can be found at: https://urlcurt.com/u?l=RWbE56 The Trustee believes that the proposed sale terms and procedures will facilitate an orderly and efficient sale of the Vehicles. The Vehicles has value that can be realized through sales by auction, and equally as important, the estates are incurring administrative expenses to preserve and maintain the Vehicles. The proposed auction date will be on November 4, 2025 at 10:00 a.m. The estates are incurring costly administrative expenses for the storage, maintenance, and/or insurance of personal property, including the Vehicles, in multiple locations across several states, that are not needed for operations. The Trustee seeks approval of certain marketing and sale procedures to facilitate the auction of the Vehicles. The auction will also be advertised online and in print. Tiger Capital intends to publish notice on its website, electronic mail distribution lists, and print and regular mail campaigns. In addition, Tiger Capital has advised the Trustee that it will send direct mailings to targeted recipients, engage in telemarketing campaigns, and engage a public relations company to assist with the promotion of the auction. At the Trustee's discretion, after consultation with Tiger Capital and the Lender, the Vehicles will be offered for sale individually or in lots. The Vehicles will be sold "as is", "where is", without any representations of any kind or nature whatsoever, including as to merchantability or fitness for a particular purpose, and without warranty or agreement as to the condition of such personal property. The Trustee, in consultation with the Lender, will determine the highest or best bids for the Vehicles at the conclusion of the auction. The Trustee may remove any of the Vehicles from the auction, and/or sell them via direct sale as the Trustee determines, in the exercise of her business judgment, is in the best interests of the estate and all creditors. Following the auction, title to the Vehicles will be transferred to the successful bidder(s) pursuant to bills of sale, invoices, or other appropriate documentation. Tiger Capital shall collect any applicable sales tax from the buyer(s), and prepare all reporting forms, certificates, reports, and other documentation required in connection with the payment of all applicable sales taxes to the appropriate taxing authorities. Within 21 days of an auction, the Trustee, in consultation with Tiger Capital, may perform an interim transfer of approximately 80%–90% of the net sale proceeds from the Proceeds Account to the DIP Account and may hold back the remaining 10%–20% of the net sale proceeds attributable from such sale in the Proceeds Account for the purpose of paying any remaining taxes due from the sale. The remaining portion of the 10%–20% holdback of net sale proceeds shall be transferred to the DIP Account within 28 days following the auction, unless otherwise agreed to in writing between the Trustee and the United States Trustee. The chapter 11 trustee for Escambia Operating Company, LLC, Escambia Asset Company, LLC, and Blue Diamond Energy, Inc., has asserted an interest in certain property and/or proceeds as a result of Escambia monies used to acquire certain assets in whole or in part in the name of World Aircraft and/or El Dorado. The Trustee is not aware of any party asserting any interests or Liens in the Vehicles. About El Dorado Gas & Oil Inc. and Hugoton Operating Company Hugoton and El Dorado are both Arkansas corporations engaged in the exploration, production, and development of crude oil and natural gas properties. El Dorado is a lease holder and operator of oil and gas wells covering about 4,000 net acres in South Texas. El Dorado also owns a substantial amount of oil field equipment and owns real estate in multiple locations and states. Hugoton also owns oil and gas interests and operates wells in South Texas. Hugoton Operating Company, Inc. filed a voluntary Chapter 11 petition (Bankr. S.D. Miss. Case No. 23-51139) on Aug. 14, 2023. El Dorado Gas & Oil, Inc., a company in Gulfport, Miss., filed Chapter 11 petition (Bankr. S.D. Miss. Case No. 23-51715) on Dec. 22, 2023, with $500 million to $1 billion in assets and $50 million to $100 million in liabilities. Thomas L. Swarek, president, signed the petition. Judge Jamie A. Wilson oversees the cases. Patrick Sheehan, Esq., at Sheehan & Ramsey, PLLC, is counsel to Debtor Bluestone Natural Resources II-South Texas, LLC and World Aircraft, Inc. R. Michael Bolen, Esq., at Hood & Bolen, PLLC; and Nancy Ribaudo, Esq., Katherine Hopkins, Esq., and Joseph Austin, Esq., at Kelly Hart & Hallman LLP, serve as counsel to Dawn Ragan, Chapter 11 Trustee for El Dorado Gas & Oil, Inc. and Hugoton Operating Company, Inc. EL-AMAN EXPRESS: Natasha Songonuga Named Subchapter V Trustee ------------------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Natasha Songonuga, Esq., at VTrustee, LLC as Subchapter V trustee for El-Aman Express, LLC. Ms. Songonuga will be paid an hourly fee of $450 for her services as Subchapter V trustee and will receive reimbursement for work related expenses incurred. Ms. Songonuga declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Natasha Songonuga, Esq. VTrustee LLC PO Box 841 Wilmington, DE 19899 Email: Nsongonuga@VTrusteellc.com El-Aman Express LLC El-Aman Express, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-20187) on September 29, 2025, with $50,001 to $100,000 in assets and $100,001 to $500,000 in liabilities. Judge Mark Edward Hall presides over the case. Jenee K. Ciccarelli, Esq., at Wenarsky and Goldstein, LLC represents the Debtor as legal counsel. ELITE EQUIPMENT: Committee Seeks to Hire Dykema Gossett as Counsel ------------------------------------------------------------------ The official committee of unsecured creditors appointed in the Chapter 11 cases of Elite Equipment Leasing, LLC and its affiliates seeks approval from the U.S. Bankruptcy Court for the District of Montana to employ Dykema Gossett PLLC as counsel. The firm's services include: (a) advise the committee with respect to its rights, duties, and powers in this case; (b) participate in in-person and telephonic meetings of the committee and subcommittees formed thereby, if any; (c) assist and advise the committee in its meetings and negotiations with the trustee and other parties in interest regarding the Chapter 11 case; (d) assist the committee in analyzing claims asserted against, and interests in, the Debtors, and in negotiating with the holders of such claims and interests and bringing, or participating in, objections or estimation proceedings with respect to such claims and interests; (e) assist the committee in analyzing the Debtors' assets and liabilities; (f) assist the committee in its investigation of the acts, conduct, assets, liabilities, management and financial conditions of the Debtors, their historic and ongoing operations of their business, and any other matters relevant to the Chapter 11 cases; (g) assist the committee in its analysis of, and negotiations with the Debtors or any third party related to financing, asset disposition transactions, and compromises of controversies, reviewing and determining its rights and obligations under leases and executory contracts, and assist, advise, and represent the committee in any manner relevant to the assumption and rejection of executory contracts and unexpired leases; (h) assist the committee in its analysis of, and negotiations with the Debtors or any third party related to, the formulation, confirmation and implementation of a Chapter 11 plan and all documentation related thereto; (i) assist the committee in its analysis of, and negotiations with the Debtors or any third party related to, the formulation, confirmation, and implementation of a Chapter 11 plan and all documentation related thereto; (j) assist and advise the committee with respect to communications with the general creditor body regarding significant matters in the case; (k) respond to inquiries from individual creditors as to the status of, and developments in, the case; (l) represent the committee at hearings and other proceedings before the court and other courts or tribunals, as appropriate; (m) review and analyze complains, motions, applications, orders, and others pleadings filed with the court, and advise the committee with respect to formulating positions with respect, and fiing responses, thereto; (n) assist the committee in its review and analysis of, and negotiations with the Debtors and their non-Debtors affiliates related to intercompany claims and transactions; (o) review and analyze third party analyses and reports prepared in connection with the Debtors' potential claims and causes of action, advise the committee with respect to formulating positions thereon, and perform such other diligence and independent analysis as may be requsted by the committee; (p) advise the committee with respect to applicable regulatory issues, as such issues may arise in the case; (q) assist the committee in preparing pleadings and applications, and pursuing or participating in adversary proceedings, contested matters, and administrative proceedings as may be necessary or appropriate in the furtherance of its duties; (r) take all necessary or appropriate actions as may be required in connection with the administration of the Debtors' estates; and (s) perform such other legal services as may be requested by the committee in accordance with its powers and duties as set forth in the Bankcruptcy Code. The firm's hourly rates are as follows: William Hotze, Attorney $675 Nicholas Zugaro, Attorney $625 Other Attorneys $450 - $675 Paralegals $175 - $285 In addition, the firm will seek reimbursement for expenses incurred. Mr. Hotze 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: William J. Hotze, Esq. Dykema Gossett PLLC 1401 McKinney Street, Suite 1625 Houston, TX 77010 Telephone: (713) 904-6959 Facsimile: (855) 227-4720 Email: WHotze@dykema.com About Elite Equipment Leasing Elite Equipment Leasing, LLC is a Billings, Montana-based crane rental group. Elite Equipment Leasing and its affiliates filed Chapter 11 petitions (Bankr. D. Mon. Lead Case No. 25-10145) on September 7, 2025. In its petition, Elite Equipment Leasing reported between $10 million and $50 million in assets and liabilities. Judge Benjamin P. Hursh oversees the cases. The Debtors tapped James A. Patten, Esq., at Patten, Peterman, Bekkedahl & Green, PLLC and Lesnick Prince Pappas & Alverson LLP as legal counsel; Garrett Stiepel Ryder, LLP as special corporate and transactional counsel; SierraConstellationPartners, LLC as financial advisor; and Epiq Corporate Restructuring, LLC as claims agent. The U.S. Trustee appointed an official committee of unsecured creditors in these Chapter 11 cases. The committee tapped Billstein, Monson & Small PLLC and Dykema Gossett PLLC as counsel. ELITE EQUIPMENT: Committee Taps Billstein Monson & Small as Counsel ------------------------------------------------------------------- The official committee of unsecured creditors appointed in the Chapter 11 cases of Elite Equipment Leasing, LLC and its affiliates seeks approval from the U.S. Bankruptcy Court for the District of Montana to employ Billstein, Monson & Small PLLC as counsel. The firm will provide these services: (a) advise the committee with respect to its rights, duties, and powers in this case; (b) participate in in-person and telephonic meetings of the committee and subcommittees formed thereby, if any; (c) assist and advise the committee in its meetings and negotations with the trustee and other parties in interest regarding the Chapter 11 case; (d) assist the committee on analyzing caims asserted against, and interests in, the Debtors, and in negotiating with the holders of such claims and interests and bringing, or participating in, objections or estimation proceedings with respect to such claims and interests; (e) assist the committee in analyzing the Debtors' assets and liabilities; (f) assist the committee in its investigation of the acts, conduct, assets, liabilities, management and financial conditions of the Debtors, their historic and ongoing operations of their business, and any other matters relevant to the Chapter 11 case; (g) assist the committee in its analysis of, and negotiations with the Debtors or any third party related to financing, asset disposition transactions, and compromises of controversies, reviewing and determining its rights and obligations under leases and executory contracts, and assist, advise, and represent the committee in any manner relevant to the assumption and rejection of executory contracts and unexpired leases; (h) assist the committee in its analysis of, and negotiations with the Debtors or any third party related to, the formulation, confirmation and implementation of a Chapter 11 plan and all documentation related thereto; (i) assist the committee in its analysis of, and negotiations with the Debtors or any third party related to, the formulation, confirmation, and implementation of a Chapter 11 plan and all documentation related thereto; (j) assist and advise the committee with respect to communications with the general creditor body regarding significant matters in the case; (k) respond to inquiries from individual creditors as to the status of, and developments in, the case; (l) represent the committee at hearings and other proceedings before the court and other courts or tribunals, as appropriate; (m) review and analyze complains, motions, applications, orders, and others pleadings filed with the court, and advise the committee with respect to formulating positions with respect, and fiing responses, thereto; (n) assist the committee in its review and analysisof, and negotiations with the Debtors and their non-Debtors affiliates related to intercompany claims and transactions; (o) review and analyze third party analyses and reports prepared in connection with the Debtors' potential claims and causes of action, advise the committee with respect to formulating positions thereon, and perform such other diligence and independent analysis as may be requsted by the committee; (p) advise the committee with respect to applicable regulatory issues, as such issues may arise in the case; (q) assist the committee in preparing pleadings and applications, and pursuing or participating in adversary proceedings, contested matters, and administrative proceedings as may be necessary or appropriate in the furtherance of its duties; (r) take all necessary or appropriate actions as may be required in connection with the administration of the Debtors' estates; and (s) perform such other legal services as may be requested by the committee in accordance with its powers and duties as set forth in the Bankruptcy Code. The firm will be paid at these hourly rates: Shane Coleman, Attorney $450 Emily Cross, Attorney $375 Daniel Beierwaltes, Attorney $275 Paralegal $150 - $195 In addition, the firm will seek reimbursement for expenses incurred. Mr. Coleman 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: Shane P. Coleman, Esq. Billstein, Monson & Small PLLC 1555 Campus Way, Suite 201 Billings, MT 59102 Telephone: (406) 656-6551 Email: shane@bmslawmt.com About Elite Equipment Leasing Elite Equipment Leasing, LLC is a Billings, Montana-based crane rental group. Elite Equipment Leasing and its affiliates filed Chapter 11 petitions (Bankr. D. Mon. Lead Case No. 25-10145) on September 7, 2025. In its petition, Elite Equipment Leasing reported between $10 million and $50 million in assets and liabilities. Judge Benjamin P. Hursh oversees the cases. The Debtors tapped James A. Patten, Esq., at Patten, Peterman, Bekkedahl & Green, PLLC and Lesnick Prince Pappas & Alverson LLP as legal counsel; Garrett Stiepel Ryder, LLP as special corporate and transactional counsel; SierraConstellationPartners, LLC as financial advisor; and Epiq Corporate Restructuring, LLC as claims agent. The U.S. Trustee appointed an official committee of unsecured creditors in these Chapter 11 cases. The committee tapped Billstein, Monson & Small PLLC and Dykema Gossett PLLC as counsel. ENDO INT'L: Court Strikes Certain Items from Claimant's Designation ------------------------------------------------------------------- The Honorable James L. Garrity, Jr. of the United States Bankruptcy Court for the Southern District of New York granted the motion of Edgar C. Gentle, III, the trustee of the Endo Opioid Personal Injury Trust, and Patrick J. Bartels, the Plan Administrator, for an order striking certain items designated by Charles Elliot Anderson in his designation of the record on appeal, and deeming the record on appeal to consist only of the items designated by Appellees in their designation of record on appeal. Mr. Anderson is a self-described "surviving victim" and personal injury claimant in these Chapter 11 Cases. Mr. Anderson is taking an appeal from the Court's Order Denying Motion for Reconsideration to the United States District Court for the Southern District of New York. On Feb. 18, 2025, Mr. Anderson, acting pro se, filed a motion to modify the Debtors' Fourth Amended Plan. The Trustee of the Endo Opioid Personal Injury Trust and the Plan Administrator both opposed the motion. On March 30, 2025, the Court denied the motion. On April 8, 2025, Mr. Anderson moved for reconsideration of that order, pursuant to Rule 9023 of the Federal Rules of Bankruptcy Procedure. The Trustee and the Plan Administrator each opposed the motion. On May 25, 2025, the Court denied the Motion and entered the Order Denying Motion for Reconsideration. On June 4, 2025, Mr. Anderson filed a Notice of Appeal. Mr. Anderson purports to list 318 items for inclusion in the record on appeal. The list includes: -- 24 items not filed of record in either the Endo or Branded Cases; -- 205 items filed of record in the Endo Case; and -- 89 items filed of record in the Branded Case. The lists include items filed of record by Mr. Anderson in connection with his Motion to Modify Plan and Motion for Reconsideration. Mr. Anderson asserts that he is presenting his "meticulously compiled Designation" to the District Court, "as direct evidence of a deliberate, pre-planned scheme to defraud creditors and the American people." The Trustee and the Plan Administrator as Appellees designated 27 items to be included in the record on appeal, comprised of items filed in connection with the Motion to Modify Plan and the Motion for Reconsideration, as well as other items filed in the Endo Case. The Appellees seek entry of the Proposed Order striking most of the designations of the record on Appellant's Designation as set forth on Exhibit 1 to the Proposed Order, and directing that only the designations on Appellees' Designation, as replicated on Exhibit 2 to the Proposed Order, be deemed the record on appeal. In Exhibit 1 to the Motion, Appellees have prepared a redlined version of the Appellant's Designation, marking the entries they contend should be stricken in light of the applicable law and facts. They argue that pursuant to Bankruptcy Rule 8009(e), the Court should strike those items included in Appellant's Designation that were: (i) not filed of record in either the Endo Case or the Branded Case; (ii) not referenced or considered by the Court in issuing the Anderson Orders; and/or (iii) created after the Court issued the Anderson Orders. They contend those items are not properly part of the record on this Appeal. In his Objection, Mr. Anderson does not address the issues raised by the Appellees in the Motion, other than to ask the Court to deny the Appellees' Motion to Strike in its entirety. The Appellees explain that they filed the Motion to ensure compliance with the procedural rules governing appellate practice and to provide the District Court with a clear record in light of the voluminous and overbroad Appellant's Designation. They assert that in designating over 200 items -- including items not considered by, or filed with, the Court, or that were created after the Court issued the Anderson Orders -- Mr. Anderson is improperly attempting to expand the record on appeal to argue issues that the Court did not raise or address in either order. They argue the Court should overrule the Objection and grant the Motion because Mr. Anderson has not met his burden of demonstrating that the disputed designations were actually considered by the Court, or that there is a legal basis for them to be included in the record on appeal. The Appellees also maintain that in his Objection, Mr. Anderson improperly attempts to seek affirmative relief against them, including to declare the confirmed plan void, vacate the orders on appeal and appoint an independent examiner, order the immediate removal of the Appellees, enforce Mr. Anderson's claim, and refer the matter to the United States Trustee and Department of Justice. They argue the Court lacks jurisdiction over substantive issues involved in the Appeal that Mr. Anderson is attempting to relitigate through his Objection. Finally, they argue that to the extent the Court finds that, through the Objection, Mr. Anderson seeks additional new relief, the Court must reject those requests because they are not properly noticed in a motion in the accordance with the Bankruptcy Rules, and in any event, the requests are unfounded and must be denied given the failure to provide any legal basis or evidentiary support for such relief. The Court finds the overwhelming majority of the items listed in the Appellant's Designation either: (i) were not filed of record in the Endo Case or Branded Case; (ii) were created after the Court issued the Anderson Orders; or (iii) were not referenced or considered by the Court in issuing those orders. According to the Court, the Appellees correctly contend those items fall outside the scope of Bankruptcy Rule 8009(a) and should not be designated as part of the record on appeal. The Court strikes them from the record on appeal. A copy of the Court's Memorandum Decision is available at https://urlcurt.com/u?l=FAV1Pn from PacerMonitor.com. Counsel to the Plan Administrator Patrick J. Bartels: Brian P. Maloney, Esq. Catherine V. LoTempio, Esq. SEWARD & KISSEL LLP One Battery Park Plaza New York, NY 10004 E-mail: maloney@sewkis.com lotempio@sewkis.com Counsel to Trustee for the Endo PI NAS Trust: Christopher P. Simon, Esq. CROSS & SIMON, LLC 1105 N. Market Street, Suite 901 Wilmington, DE 19801 E-mail: csimon@crosslaw.com About Endo International PLC Endo International plc (OTC: ENDPQ) is a generics and branded pharmaceutical company. It develops, manufactures, and sells branded and generic products to customers in a wide range of medical fields, including endocrinology, orthopedics, urology, oncology, neurology, and other specialty areas. On the Web: http://www.endo.com/ Endo International and certain of its subsidiaries initiated voluntary prearranged Chapter 11 proceedings (Bankr. S.D.N.Y. Lead Case No. 22-22549) on Aug. 16, 2022. On May 25, 2023, Operand Pharmaceuticals Holdco II Limited and Operand Pharmaceuticals Holdco III Limited each filed a voluntary Chapter 11 petition also in the U.S. Bankruptcy Court for the Southern District of New York. On May 31, 2023, Operand Pharmaceuticals II Limited and Operand Pharmaceutical III Limited each filed a voluntary Chapter 11 petition also in the Southern District of New York. The Company's cases are jointly administered before the Honorable James L. Garrity, Jr. Endo initiated the financial restructuring process after reaching an agreement with a group of its senior debtholders on a transaction that would substantially reduce outstanding debt, address remaining opioid and other litigation-related claims, and best position Endo for the future. This would allow the Company to advance its ongoing business transformation from a strengthened financial position to create compelling value for its stakeholders over the long term. Endo's India-based entities are not part of the Chapter 11 proceedings. The Company has filed recognition proceedings in Canada and expects to file similar proceedings in the United Kingdom and Australia. The Debtors tapped Skadden, Arps, Slate, Meagher & Flom, LLP as legal counsel; PJT Partners, LP as investment banker; and Alvarez & Marsal North America, LLC as financial advisor. Kroll Restructuring Administration, LLC, is the claims agent and administrative advisor. A Website dedicated to the restructuring is at http://www.endotomorrow.com/ Roger Frankel, the legal representative for future claimants in the Chapter 11 cases, tapped Frankel Wyron LLP and Young Conaway Stargatt & Taylor, LLP, as legal counsels, and Ducera Partners, LLC, as investment banker. EQUILATERAL INVESTMENT: John Whaley Named Subchapter V Trustee -------------------------------------------------------------- The U.S. Trustee for Region 21 appointed John Whaley, a practicing accountant in Atlanta, Ga., as Subchapter V trustee for Equilateral Investment Group, LLC. Mr. Whaley will be paid an hourly fee of $425 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Whaley declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: John T. Whaley, CPA P.O. Box 76362 Atlanta, GA 30358 Phone: 404-946-5272 Email: trustee@jtwcpa.net About Equilateral Investment Group Equilateral Investment Group, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-61523) on October 6, 2025, with $500,001 to $1 million in assets and liabilities. Judge Paul W. Bonapfel presides over the case. ESCALON MEDICAL: Newton Charles Carter No Longer Holds Shares ------------------------------------------------------------- Newton Charles Carter disclosed in a Schedule 13G (Amendment No. 2) filed with the U.S. Securities and Exchange Commission that as of October 6, 2025, he no longer owns shares of Escalon Medical Corp's common stock. Newton Charles Carter may be reached at: 1159 East Keswick Dr. Keswick, Va. 22947 A full-text copy of Newton Charles Carter's SEC report is available at: https://tinyurl.com/4dack982 About Escalon Headquartered in Wayne, Pennsylvania, Escalon Medical Corp. operates in the healthcare market, specializing in the development, manufacture, marketing and distribution of medical devices for ophthalmic applications. As of June 30, 2025, the Company had total assets of $4.99 million, $3.08 million in total liabilities, and $1.92 million in total shareholders' equity. Marlton, New Jersey-based CBIZ, CPAs P.C., the Company's auditor since 2010, issued a "going concern" qualification in its report dated September 29, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2025, citing that the Company has historically incurred recurring losses from operations and incurred negative cash flows from operating activities, and currently the Company has adverse ratios of cash to current liabilities and days payable outstanding. These conditions raise substantial doubt about the Company's ability to continue as a going concern. EVENTIDE CREDIT: Court OKs Appointment of Mark Andrews as Trustee ----------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Texas approved the appointment of Mark Andrews as Chapter 11 trustee for Eventide Credit Acquisitions, LLC and BHW Texas, LLC. Mr. Andrews was appointed on October 1 by Lisa Lambert, the U.S. Trustee for Region 6, following court approval of the official unsecured creditors committee's motion to appoint an independent trustee to manage the cases. In its motion, the committee raised the need to appoint an independent trustee to take over the case, saying Eventide's founder, Matt Martorello, was discovered liable in federal court for collecting illegal loans from consumer borrowers. The committee argued that Mr. Martorello has caused Eventide to administer this Chapter 11 case strictly for his own benefit, incurring more than $7 million in unnecessary legal fees spent fighting the legitimate efforts of the committee and other parties, with no apparent goal of reaching a confirmable Chapter 11 plan or providing any benefit whatsoever to Eventide's estate or non-insider creditors. The committee claimed that the case has been pending for almost two years but the company has yet to even provide notice and a proof of claim bar date to creditors, choosing instead to break a settlement it reached with the consumer borrowers to certify a class. About Eventide Credit Acquisitions Eventide Credit Acquisitions, LLC, a Dallas-based company, filed a petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Texas Case No. 23-90007) on September 6, 2023, listing between $50 million and $100 million in assets and liabilities. On October 9, 2023, BWH Texas LLC, an affiliate, filed Chapter 11 petition (Bankr. N.D. Texas Case No. 23-43085) on October 9, 2023. The cases are jointly administered under Case No. 23-90007. Judge Mark X. Mullin oversees the cases. The Debtors tapped Forshey & Prostok, LLP as bankruptcy counsel; Holland & Knight, LLP as special counsel; and David French & Associates, LLC and William Roberts, CPA, a professional practicing in Fort Worth, Texas, as accountants. Donlin, Recano & Company, Inc. serves as notice, claims and balloting agent. The U.S. Trustee for Region 6 appointed an official committee of unsecured creditors on September 21, 2023. The committee tapped Cole Schotz, PC as legal counsel and Aurora Management Partners as financial advisor. EVERSTREAM SOLUTIONS: Gets Court OK to Solicit Ch. 11 Plan Vote --------------------------------------------------------------- Clara Geoghegan of Law360 Bankruptcy Authority reports that Everstream Solutions secured court approval on Tuesday to circulate its Chapter 11 wind-down plan to creditors for a vote, advancing the business internet provider closer to finalizing its bankruptcy process. The Texas bankruptcy judge scheduled the plan's confirmation hearing for November. The ruling represents an important procedural step, allowing the company to formally solicit votes on how its remaining assets should be handled and distributed. The approval also signals that the court found Everstream’s disclosure materials sufficiently transparent and comprehensive. With this clearance, Everstream will now focus on obtaining creditor support for its plan, which outlines a structured approach to winding down operations and settling obligations with stakeholders. About Everstream Networks Everstream Networks LLC is a business-focused provider of data, internet, and communications services, operating a fiber network spanning over 34,000 miles across 13 states in the U.S. Midwest and Northeast. Headquartered in Cleveland, Ohio, the Company offers enterprise-grade solutions such as dedicated internet access, dark fiber, Ethernet, and network security. Founded in 2014 as a subsidiary of nonprofit OneCommunity, Everstream has expanded through a mix of organic growth and acquisitions. Everstream Networks LLC and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90144) on May 28, 2025. In its petition, the Debtor reports estimated assets (on a consolidated basis) between $500 million and $1 billion and estimated liabilities (on a consolidated basis) between $1 billion and $10 billion. Honorable Bankruptcy Judge Christopher M. Lopez handles the case. The Debtor is represented by Gabriel A. Morgan, Esq., Clifford W. Carlson, Esq., Matthew S. Barr, Esq., Andriana Georgallas, Esq., and Alexander P. Cohen, Esq. at WEIL, GOTSHAL & MANGES LLP. The Debtors' Special Counsel is RICHARDS, LAYTON & FINGER, P.A. BANK STREET GROUP LLC is the Debtors' M&A Advisor. ALVAREZ & MARSAL NORTH AMERICA, LLC is the Debtors' Financial Advisor. STRETTO, INC. is the Debtors' Claims, Noticing & Solicitation Agent. EVERSTREAM SOLUTIONS: OpCo Unsecureds Will Get 5.4% to 12.2% ------------------------------------------------------------ Everstream Solutions LLC and its affiliated debtors submitted a Disclosure Statement for the Amended Joint Chapter 11 Plan dated October 7, 2025. The Plan contemplates the distribution of proceeds from the WholeCo Sale Transaction with the Successful Bidder and a wind down of the Debtors' remaining assets. To implement the provisions of the Plan, the Plan contemplates the appointment of a plan administrator (the "Plan Administrator") to facilitate the wind down of the Debtors' remaining assets after the Effective Date (the "Wind Down"). Plan Distributions to holders of Claims entitled to a recovery under the Plan will be funded by Cash on hand, the Sale Proceeds, Cash proceeds from the sale or liquidation of any of the Debtors' assets that are not Transferred Assets, and, with respect to distributions on account of Allowed HoldCo Lender Secured Claims, any Cash in the Credit Card Program Bank Account. Plan Distributions will be made in accordance with the following distribution priority (in each case, until paid in full in Cash) (the "Waterfall Recovery Priority"): (i) first, on account of Allowed Administrative Expense Claims, Allowed DIP Claims, Allowed Priority Tax Claims, and Allowed Other Priority Claims (if any); (ii) second, on account of Allowed Other Secured Claims (if any); and (iii) third, on account of Allowed OpCo Lender Secured Claims. Additionally, the OpCo Lenders shall contribute $2 million (the "Creditors' Committee Settlement Amount"), on a Pro Rata basis, of the Sale Proceeds Distributable Consideration to which such OpCo Lenders otherwise would be entitled on the Effective Date. The Creditors' Committee Settlement Amount shall be held by the Debtors or Wind Down Co, as applicable, in trust for the benefit of holders of OpCo General Unsecured Claims and constitutes the sole source of recovery under the Plan for holders of OpCo General Unsecured Claims. As further set forth in the Plan, following completion of the Wind Down, the Plan Administrator will distribute to the OpCo Lenders the amount (if any) remaining in the Wind Down Fund after the Plan Administrator completes all of its duties under the Plan before the dissolution of Wind Down Co. Class 3 consists of OpCo Lender Secured Claims. Except to the extent that a holder of an Allowed OpCo Lender Secured Claim agrees to less favorable treatment, each holder of an Allowed OpCo Lender Secured Claim shall receive, in full and final satisfaction, compromise, settlement, and release of and in exchange for such Allowed Claim, and up to the full amount of such holder's Allowed OpCo Lender Secured Claim, (i) on the Effective Date, its Pro Rata share of the Sale Proceeds Distributable Consideration, if any, subject to the Waterfall Recovery Priority, less the Creditors' Committee Settlement Amount, (ii) its Pro Rata share of the Wind Down Co Interim Distributions (if any), and (iii) its Pro Rata share of the Wind Down Reversion Amount (if any) prior to the dissolution of Wind Down Co. This Class will receive a distribution of 9.3% to 20.6% of their allowed claims. Class 4 consists consists of OpCo General Unsecured Claims. Except to the extent that a holder of an Allowed OpCo General Unsecured Claim agrees to less favorable treatment, each holder of an Allowed OpCo General Unsecured Claim shall receive, in full and final satisfaction, compromise, settlement, and release of and in exchange for such Allowed Claim, and up to the full amount of such holder's Allowed OpCo General Unsecured Claim, on or as soon as reasonably practicable after the reconciliation process for OpCo General Unsecured Claims is complete, its Pro Rata share of the Creditors' Committee Settlement Amount. Each holder of an Allowed OpCo General Unsecured Claim's Pro Rata share of the Creditors' Committee Settlement shall be determined without regard to the OpCo Lender Deficiency Claims. This Class will receive a distribution of 5.4% to 12.2% of their allowed claims. The WholeCo Sale Transaction is subject to regulatory approvals in connection with the Hart-Scott-Rodino Act ("HSR Act" or "HSR"). Under the HSR Act, with some exceptions, parties to a transaction above a certain threshold must submit premerger notification filings to the FTC and the Department of Justice (the "DOJ") for approval, which commences a statutory waiting period. Everstream and Bluebird each made an HSR filing on June 30, 2025, and the statutory waiting period expired on July 15, 2025. Further, closing of the WholeCo Sale Transaction with Bluebird is conditioned on receipt of written notice from the Committee on Foreign Investment in the United States ("CFIUS") that all action has been concluded pursuant to section 721 of the Defense Production Act of 1950, as amended (Section 4565 of the Bankruptcy Code) (the "DPA"), and all rules and regulations thereunder, including those codified at 31 C.F.R. Part 800, with respect to the WholeCo Sale Transaction. On September 18, 2025, CFIUS delivered written notice to the parties that (i) CFIUS completed its review, (ii) CFIUS determined there are no unresolved national security concerns, and (iii) all action under the DPA has been concluded. Creditors' Committee Settlement Paragraph 24 of the Final DIP Order provides authority for the Creditors' Committee to investigate and, if desired, assert Challenges to the OpCo Stipulations and HoldCo Stipulations up to the Challenge Deadline, which the Debtors, with the consent of the Requisite Prepetition Lenders, extended pursuant to the Limited Challenge Deadline Stipulations. Pursuant to the Limited Challenge Deadline Stipulations, the Debtors, DIP Lenders, Prepetition OpCo Lenders, and Prepetition HoldCo Lenders agreed to, among other terms, work in good faith to engage in, and reach, a global settlement with respect to the Chapter 11 Cases. On October 7, 2025, the Debtors, Prepetition Lenders, DIP Lenders, and Creditors' Committee (collectively, the "Settlement Parties") reached an integrated compromise and settlement regarding the treatment of OpCo General Unsecured Claims under the Plan (such settlement, the "Creditors' Committee Settlement"). The Creditors' Committee Settlement is the result of several months of good faith, arm's-length negotiations among the Settlement Parties. The Creditors' Committee Settlement will be implemented pursuant to Section 5.2 of the Plan. A full-text copy of the Disclosure Statement dated October 7, 2025 is available at https://urlcurt.com/u?l=M9WDym from Stretto Inc., claims agent. The Debtors' Counsel: Gabriel A. Morgan, Esq. Clifford W. Carlson, Esq. WEIL, GOTSHAL & MANGES LLP 700 Louisiana Street, Suite 3700 Houston, Texas 77002 Tel: (713) 546-5000 Fax: (713) 224-9511 Email: gabriel.morgan@weil.com clifford.carlson@weil.com - and - Matthew S. Barr, Esq. Andriana Georgallas, Esq. Alexander P. Cohen, Esq. WEIL, GOTSHAL & MANGES LLP 767 Fifth Avenue New York, New York 10153 Tel: (212) 310-8000 Fax: (212) 310-8007 Email: matt.barr@weil.com andriana.georgallas@weil.com alexander.cohen@weil.com About Everstream Networks Everstream Networks LLC is a business-focused provider of data, internet, and communications services, operating a fiber network spanning over 34,000 miles across 13 states in the U.S. Midwest and Northeast. Headquartered in Cleveland, Ohio, the Company offers enterprise-grade solutions such as dedicated internet access, dark fiber, Ethernet, and network security. Founded in 2014 as a subsidiary of nonprofit OneCommunity, Everstream has expanded through a mix of organic growth and acquisitions. Everstream Networks LLC and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90144) on May 28, 2025. In its petition, the Debtor reports estimated assets (on a consolidated basis) between $500 million and $1 billion and estimated liabilities (on a consolidated basis) between $1 billion and $10 billion. Honorable Bankruptcy Judge Christopher M. Lopez handles the case. The Debtor is represented by Gabriel A. Morgan, Esq., Clifford W. Carlson, Esq., Matthew S. Barr, Esq., Andriana Georgallas, Esq., and Alexander P. Cohen, Esq. at WEIL, GOTSHAL & MANGES LLP. The Debtors' Special Counsel is RICHARDS, LAYTON & FINGER, P.A. BANK STREET GROUP LLC is the Debtors' M&A Advisor. ALVAREZ & MARSAL NORTH AMERICA, LLC is the Debtors' Financial Advisor. STRETTO, INC. is the Debtors' Claims, Noticing & Solicitation Agent. FINGERMOTION INC: Acquires DaGe Platform IP for 1.5M Shares ----------------------------------------------------------- FingerMotion, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company, its indirect wholly owned subsidiary, Shanghai JiuGe Business Management Co., Ltd., and Shanghai Jihaohe Information Technology Co., Ltd., entered into an Asset Purchase Agreement pursuant to which the Company caused JiuGe Management to acquire all of the intellectual property (including, without limitation, all of the inventions, software in source code or object code, trademarks, copyrights and trade secrets) underpinning the Company's DaGe platform, in consideration of the issuance by the Company to Shanghai Jiahaohe of 1,500,000 shares of common stock in the capital of the Company. The Asset Purchase Agreement closed on October 2, 2025, and the Company issued the 1,500,000 shares of common stock to Shanghai Jihaohe at a deemed issuance price of $1.57 per share. On the same day, the Company issued 1,500,000 fully paid and non-assessable shares of common stock at a deemed issuance price of $1.57 per share to Shanghai Jihaohe pursuant to the closing of the Asset Purchase Agreement. The Company relied upon the exclusion from the registration requirements of the United States Securities Act of 1933, as amended, for offshore transactions provided by Rule 903(b) of Regulation S promulgated under the Securities Act for the issuance of such shares. A copy of the Asset Purchase Agreement is available at https://tinyurl.com/4tsvsr6r About FingerMotion Inc. FingerMotion Inc. is an evolving technology Company with a core competency in mobile payment and recharge platform solutions in China. San Francisco, California-based CT International LLP, the Company's auditor since 2024, issued a "going concern" qualification in its report dated May 29, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended February 28, 2025 citing that the Company has suffered recurring losses from operations that raise substantial doubt about its ability to continue as a going concern. As of May 31, 2025, the Company had $55.71 million in total assets, against $39.51 million in total liabilities, and total shareholders' equity of $16.20 million. FIRST BRANDS: Names Charles Moore as Interim CEO Amid Chapter 11 ---------------------------------------------------------------- First Brands Group, LLC, a leading global supplier of aftermarket automotive parts, announced on October 13 that Charles Moore has been appointed Interim Chief Executive Officer, succeeding Founder and Chief Executive Officer Patrick James, who has resigned from the Company. Mr. Moore has served as First Brands' Chief Restructuring Officer since September 2025 and brings more than 30 years of leadership experience in restructuring and performance improvement across the automotive supply chain. He assumes executive leadership as First Brands continues its previously announced chapter 11 cases in the United States Bankruptcy Court for the Southern District of Texas. In his role as Interim CEO, Mr. Moore will work closely with First Brands' management team and advisors to oversee operational stabilization initiatives and facilitate a court-supervised sale process, while the Special Committee of the Board of Directors investigates the prepetition use of off-balance sheet financing arrangements. There are no other changes to First Brands' executive leadership team at this time. "First Brands has a strong foundation of globally recognized brands and a resilient position in the aftermarket automotive industry," said Moore. "Our immediate priority is to ensure stability and dependability for our employees, customers, and partners. We remain laser-focused on operational execution while we take the necessary steps to conduct an investigation into the past use of various financing instruments and facilitate a sale process designed to deliver the best possible outcome for our stakeholders. We intend to move through this process efficiently, and I look forward to working alongside the First Brands team in this next phase." As previously announced, First Brands has secured $1.1 billion in debtor-in-possession financing, which is providing the necessary capital for the Company to maintain operations, fulfill customer orders, and meet its commitments to its vendors and partners. About Charles Moore Charles Moore is an experienced executive with more than 30 years of leadership in operational turnarounds, performance improvement, financial restructuring, and complex sale processes across the automotive and industrial sectors. He has advised more than 75 automotive suppliers in matters such as liquidity management, transaction execution, and stakeholder negotiations and has served in senior roles in multiple chapter 11 restructuring matters. Moore is a Managing Director at Alvarez and Marsal and previously held leadership roles at Conway MacKenzie and Horizon Technology Group. He started his career in the Management Solutions & Services practice at Deloitte. Moore holds a bachelor's degree in accounting and an MBA in professional accounting from Michigan State University. He is a Certified Public Accountant, a Certified Turnaround Professional, and is certified in financial forensics. About First Brands Rochester Hills, Mich.-based First Brands Group, LLC is a global supplier of aftermarket automotive parts. On September 24, 2025, the Company's non-operational special purpose entities, Global Assets LLC, Global Lease Assets Holdings, LLC, Carnaby Capital Holdings, LLC, Broad Street Financial Holdings, LLC, Broad Street Financial, LLC, Carnaby Inventory II, LLC, Carnaby Inventory Holdings II, LLC, Carnaby Inventory III, LLC, Carnaby Inventory Holdings III, LLC, Patterson Inventory, LLC, Patterson Inventory Holdings, LLC, Starlight Inventory I, LLC and Starlight Inventory Holdings I, LLC each filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. Commencing on September 28, 2025, First Brands Group, LLC and 98 affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. In its petition, First Brands Group LLC listed $1 billion to $10 billion in estimated assets and $10 billion to $50 billion in estimated liabilities. The cases are pending before the Hon. Christopher M. Lopez, and are jointly administered under Case No. 25-90399, and consolidated for procedural purposes only. Weil, Gotshal and Manges LLP is serving as legal counsel, Lazard is serving as investment banker, Alvarez & Marsal is serving as financial advisor, and C Street Advisory Group is serving as strategic communications advisor to First Brands Group. Kroll serves as the Debtors' Claims Agent. Gibson, Dunn & Crutcher LLP is serving as legal counsel, and Evercore is serving as investment banker to the Ad Hoc Group. FISCHER AG: Court Gets Final OK to Use Cash Collateral ------------------------------------------------------ Fischer AG, LLC and affiliates received final approval from the U.S. Bankruptcy Court for the Eastern District of Missouri, Northern Division, to use cash collateral through December 19. The final order authorized the Debtors to use all cash collateral except crop proceeds, pending a further hearing on their bid to use crop-related funds. The Debtors' budget projects total operational expenses of $11,720 for the week ending October 17; $17,718 for the week ending October 24; $34,000 for the week ending October 31; $15,740 for the week ending November 7; $13,500 for the week ending November 14; $16,018 for the week ending November 21; $13,300 for the week ending November 28; $28,720 for the week ending December 5; $62,380 for the week ending December 12; and $64,403 for the week ending December 19. The Internal Revenue Service holds a secured claim of approximately $228,000, while First State Community Bank is owed about $2.1 million and claims an interest in crop-related collateral. As adequate protection, the IRS will be granted first-priority replacement liens on non-crop assets and a new post-petition lien. Additionally, the agency will receive monthly payments of $1,000, starting this month and continuing until confirmation of their Chapter 11 plan. First State Community Bank is represented by: Zachary S. Merkle, Esq. Sandberg Phoenix & Von Gontard, P.C. 701 Market Street, Suite 600 St. Louis, MO 63101 (314) 231-3332 (314) 241-7604 Fax zmerkle@sandbergphoenix.com About Fischer AG LLC Fischer AG, LLC, doing business as Fischer Trucking, provides interstate freight transportation services. The company hauls general freight, agricultural products, dry bulk commodities, and metal goods. It operates from Missouri with a small fleet serving regional and interstate routes. Fischer AG sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Miss. Case No. 25-20127) on July 30, 2025, with $2,643,600 in assets and $2,420,098 in liabilities. Chris Fischer, owner, signed the petition. Judge Kathy A. Surratt-States oversees the case. David M. Dare, Esq., at Herren, Dare & Streett represents the Debtor as legal counsel. GAFI MIAMI: Taps Goldberg Weprin Finkel Goldstein as Legal Counsel ------------------------------------------------------------------ Gafi Miami LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to employ Goldberg Weprin Finkel Goldstein LLP as counsel. The firm's services include: (a) provide the Debtor with all necessary representation in connection with this Chapter 11 case, as well as its responsibilities; (b) represent the Debtor in all proceedings before the U.S. Bankruptcy Court and the Office of the U.S. Trustee; (c) review, prepare and file all necessary legal papers in the Chapter 11 case; and (d) provide all other legal services required with respect to addressing the capital call requirements in order to achieve confirmation of a plan of reorganization. The firm will be paid at these hourly rates: Partner $785 Associate $275 - $560 In addition, the firm will seek reimbursement for expenses incurred. Kevin Nash, Esq., a member at Goldberg Weprin Finkel Goldstein, 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: Kevin J. Nash, Esq. Goldberg Weprin Finkel Goldstein LLP 125 Park Avenue, 112th Floor New York, NY 10017 Telephone: (212) 221-5700 About Gafi Miami LLC Gafi Miami LLC holds a 50% membership interest in Miami Worldwide Exchange LLC, which owns a ten-story mixed-use retail and office property at 1 NE 1st Street, Miami, Florida. The development comprises four retail floors and six office floors, primarily serving jewelry tenants. Gafi Miami LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-12010) on September 16, 2025. In its petition, the Debtor reports estimated assets between $10 million and $50 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Martin Glenn handles the case. The Debtor is represented by Kevin J. Nash, Esq., of Goldberg Weprin Finkel Goldstein LLP. GBOGBARA INC: Gets Interim OK to Use Cash Collateral ---------------------------------------------------- Gbogbara, Inc. received interim approval from the U.S. Bankruptcy Court for the Eastern District of Michigan, Southern Division, Detroit, to use cash collateral to fund operations. The court's interim order authorized the Debtor to use $85,086.36 in cash collateral pending the final hearing scheduled for November 5. As adequate protection, the U.S. Small Business Administration, Superfast Capital, Inc., McKesson Corporation and the Internal Revenue Service will be granted replacement liens on assets acquired by the Debtor after its Chapter 11 filing that are similar to the secured creditors' pre-bankruptcy collateral. The replacement liens will have the same priority and validity as the pre-bankruptcy security interests and liens held by the secured creditors. Moreover, these liens do not apply to any Chapter 5 claims and causes of action. As additional protection, the SBA will receive a monthly payment of $236 starting next month. Gbogbara believes it owes the SBA $505,979.65; the IRS, $100,940.9; and McKesson, $2,000. The Debtor's financial strain arose primarily from high-interest, daily repayment loans taken during the pandemic, which interfered with its ability to pay suppliers and maintain essential inventory. One of its most profitable locations in Roseville was previously closed due to financial pressure, exacerbating the situation. Gbogbara, now operating as a debtor-in-possession, aims to restructure by closing its Gratiot location and focusing on the Jefferson and Roseville sites. The Debtor believes its cash collateral may include inventory, with no current cash on hand or accounts receivable. The four creditors may hold claims on this collateral through prior UCC-1 filings. The SBA is expected to assert first-priority rights, followed by Superfast Capital, the IRS, and possibly McKesson, although the latter may have been paid off. The Debtor does not yet admit the validity or priority of these claims but acknowledges their potential interest in the collateral. About Gbogbara Inc. Gbogbara, Inc. is a full-service pharmacy with three locations in Michigan. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mich. Case No. 25-49970) on October 3, 2025. In the petition signed by Lenyie Ngbogbara, sole shareholder, the Debtor disclosed up to $1 million in assets and up to $10 million in liabilities. Judge Mark A. Randon oversees the case. Alexander J. Berry-Santoro, Esq., at Maxwell Dunn PLC, represents the Debtor as legal counsel. GBOGBARA INC: Mark Shapiro Named Subchapter V Trustee ----------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Mark Shapiro of Steinberg, Shapiro & Clark as Subchapter V trustee for Gbogbara, Inc. Mr. Shapiro will be paid an hourly fee of $400 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Shapiro declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Mark H. Shapiro Steinberg, Shapiro & Clark 25925 Telegraph Rd., Ste. 203 Southfield, MI 48033 Phone: (248) 352-4700 Email: shapiro@steinbergshapiro.com About Gbogbara Inc. Gbogbara, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D. Mich. Case No. 25-49970) on October 3, 2025, with $500,001 to $1 million in assets and $1,000,001 to $10 million in liabilities. Judge Mark A. Randon presides over the case. Alexander Joseph Berry-Santoro, Esq., at Maxwell Dunn, PLC represents the Debtor as legal counsel. GEC TRANSPORT: Court OKs Cash Collateral Access, DIP Loan From JDF ------------------------------------------------------------------ GEC Transport Solutions LLC received interim approval from the U.S. Bankruptcy Court for the Southern District of Texas, McAllen Division, to use cash collateral and obtain post-petition financing. The interim order authorized the Debtor to (1) obtain senior secured superpriority financing by selling its accounts receivable free and clear of all liens and claims to J D Factors, LLC under a Debtor-in-Possession Addendum to their pre-petition Factoring and Security Agreement, (2) use cash collateral in accordance with an approved budget, (3) grant JDF replacement liens on post- and pre-petition collateral, and (4) modify the automatic stay to allow continued operation of the factoring relationship. The financing is structured as a factoring arrangement, in which the Debtor sells its accounts receivable to JDF, which then collects directly from customers using existing systems such as lockboxes. GEC Transport Solutions is a logistics and transportation company based in Pharr, Texas, operating a fleet of 131 trucks and trailers nationwide. The Debtor said it needs financing to cover payroll, operational expenses, and administrative costs. The DIP Facility with JDF, negotiated in good faith, is the only available financing option, as the Debtor has been rejected by other financiers. A copy of the interim order is available at https://is.gd/q8XKzs from PacerMonitor.com. The final hearing will be held via electronic hearing on November 18. About GEC Transport Solutions LLC GEC Transport Solutions LLC is a logistics and transportation company based in Pharr, Texas, operating a fleet of 131 trucks and trailers nationwide. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-70297) on October 6, 2025. In the petition signed by Benjamin Cavazos, owner, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Eduardo V. Rodriguez oversees the case. Susan Tran Adams, Esq., at TRAN SINGH, LLP, represents the Debtor as legal counsel. J D Factors LLC, as DIP lender, is represented by: Trent L. Rosenthal, Esq Rosenthal Law Firm, P.L.L.C. 675 Bering, Suite 150 Houston, TX 77057 Telephone: (713) 647-8177 Facsimile: (713) 647-8127 trosenthal@rosenthallaw.com GEC TRANSPORT: Gets Interim Approval to Use Cash Collateral ----------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Texas, McAllen Division, issued an interim order authorizing GEC Transport Solutions, LLC to use the cash collateral of its secured creditors to fund operations. The Debtor was authorized to use the cash collateral of Commercial Credit Group, JD Factors, Alpine Advance 5, LLC and the U.S. Small Business Administration to pay the expenses outlined in its approved budget, with a 15% variance allowed per month. Unused funds can be carried forward or reallocated to other budget line items as necessary. As adequate protection, the secured creditors will be granted a replacement lien on the Debtor's post-petition property, with the same validity, priority and extent as their pre-bankruptcy lien. In case of any diminution in the value of their collateral, the secured creditors will receive a superpriority administrative claim. Additionally, the order includes a carveout provision allowing up to $15,000 for approved professional fees and $50,000 for trustee expenses under Section 726(b) of the Bankruptcy Code, ensuring administrative costs are covered before creditor recoveries. All liens and superpriority claims of the secured lenders remain subject to this carveout. A final hearing is scheduled for November 18, with objections due by November 13. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/nhKtp from PacerMonitor.com. About GEC Transport Solutions LLC GEC Transport Solutions, LLC is a logistics and transportation company based in Pharr, Texas, operating a fleet of 131 trucks and trailers nationwide. GEC Transport Solutions sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 25-70297) on October 6, 2025, listing up to $10 million in both assets and liabilities. Benjamin Cavazos, company owner, signed the petition. Judge Eduardo V. Rodriguez oversees the case. Susan Tran Adams, Esq., at Tran Singh, LLP, represents the Debtor as legal counsel. J D Factors LLC, as DIP lender, is represented by: Trent L. Rosenthal, Esq Rosenthal Law Firm, P.L.L.C. 675 Bering, Suite 150 Houston, TX 77057 Telephone: (713) 647-8177 Facsimile: (713) 647-8127 trosenthal@rosenthallaw.com GENERAL MOTORS: New GM Not Liable for Prepetition Claims -------------------------------------------------------- Angelica Serrano-Roman of Bloomberg Law reports that a New York bankruptcy judge has ruled that the state of Texas cannot hold General Motors accountable for alleged misconduct tied to the company's operations before its 2009 bankruptcy. Chief Judge Martin Glenn of the US Bankruptcy Court for the Southern District of New York concluded that "New GM" is not responsible for any "old GM" violations under the Texas Deceptive Trade Practices Act. In his opinion, Glenn said Texas' claim for damages was based on conduct that occurred before GM's reorganization and therefore constitutes impermissible successor liability. He emphasized that the 2009 sale order, which transferred GM's assets to the new entity, explicitly shielded the reorganized company from such pre-bankruptcy claims. The court found that Texas failed to assert any independent claims related solely to post-bankruptcy actions, effectively barring the state's case. The ruling reinforces long-standing protections granted to reorganized companies under bankruptcy law, insulating "New GM" from liability over legacy conduct, the report states. About General Motors With its global headquarters in Detroit, Michigan, General Motors -- http://www.gm.com/-- is one of the world's largest automakers, traces its roots back to 1908. General Motors Co. was formed to acquire the operations of General Motors Corp. through a sale under 11 U.S.C. Sec. 363 following Old GM's bankruptcy filing. The U.S. government provided financing. The deal was closed July 10, 2009, and Old GM changed its name to Motors Liquidation Co. Old GM -- General Motors Corporation -- filed for Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 09-50026) on June 1, 2009. The Honorable Robert E. Gerber presides over the Chapter 11 cases. The Debtors tapped Weil, Gotshal & Manges LLP Jenner & Block LLP and Honigman Miller Schwartz and Cohn LLP as counsel; and Morgan Stanley, Evercore Partners and the Blackstone Group LLP as financial advisor. Garden City Group is the claims and notice agent of the Debtors. The U.S. Trustee appointed an Official Committee of Unsecured Creditors and a separate Official Committee of Unsecured Creditors Holding Asbestos-Related Claims. Lawyers at Kramer Levin Naftalis & Frankel LLP served as bankruptcy counsel to the Creditors Committee. Attorneys at Butzel Long served as counsel on supplier contract matters. FTI Consulting Inc. served as financial advisors to the Creditors Committee. Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, represented the Asbestos Committee. Legal Analysis Systems, Inc., served as asbestos valuation analyst. The Bankruptcy Court entered an order confirming the Debtors' Second Amended Joint Chapter 11 Plan on March 29, 2011. The Plan was declared effect on March 31. On Dec. 15, 2011, Motors Liquidation was dissolved. On the Dissolution Date, pursuant to the Plan and the Motors Liquidation Company GUC Trust Agreement, dated March 30, 2011, between the parties thereto, the trust administrator and trustee -- GUC Trust Administrator -- of the Motors Liquidation Company GUC Trust, assumed responsibility for the affairs of and certain claims against MLC and its debtor subsidiaries that were not concluded prior to the Dissolution Date. GENERATIONS ON 1ST: Seeks to Use Cash Collateral ------------------------------------------------ Generations on 1st, LLC and Parkside Place, LLC ask the U.S. Bankruptcy Court for the District of North Dakota for authority to continue using cash collateral beyond October 20. The Debtors had previously been granted permission to use cash collateral on both an interim and final basis, contingent upon a series of stipulations with Red River State Bank, the secured creditor asserting an interest in the collateral. These stipulations have been repeatedly extended by written agreements (most recently by oral stipulation in court on September 29) but currently only authorize use of funds through October 20. While the Debtors and Red River State Bank are engaged in ongoing, good-faith negotiations, a default notice was triggered mere hours after the last written cash collateral order was entered, prompting the Debtors to express concern about relying further on temporary stipulations. Given the uncertainty of reaching another stipulation, the Debtors now seek a more stable, court-approved final order allowing ongoing use of cash collateral for the remainder of the cases. The Debtors request authority to use cash collateral in line with previously filed budgets, with a 110% spending allowance per month based on the projected budgeted amounts. As adequate protection for Red River State Bank, the Debtors propose: (1) automatically-perfected replacement liens to cover any collateral value diminution, and (2) monthly cash payments—$19,267 by Parkside and $39,667 by Generations, both payable by the 15th of each month. A court hearing is scheduled for October 21. Red River State Bank is represented by: Caren W. Stanley, Esq. Drew J. Hushka, Esq. Kesha L. Tanabe, Esq. Vogel Law Firm 218 NP Avenue P.O. Box 1389 Fargo, ND 58107-1389 Telephone: 701.237.6983 cstanley@vogellaw.com dhushka@vogellaw.com ktanabe@vogellaw.com About Generations on 1st and Parkside Place Generations on 1st, LLC, a company in Fargo, N.D., and its affiliate Parkside Place, LLC filed Chapter 11 petitions (Bankr. D. N.D. Lead Case No. 25-30002) on January 6, 2025. In their petitions, Generations on 1st reported total assets of $13,567,037 and total liabilities of $12,137,102 while Parkside Place reported $7,221,882 in assets and $5,599,522 in liabilities. Judge Shon Hastings handles the cases. The Debtors are represented by Maurice VerStandig, Esq. at The Dakota Bankruptcy Firm. Red River State Bank, as lender, is represented by Drew J. Hushka, Esq., at Vogel Law Firm. GIROIR HOLDINGS: Frederick Bunol Named Subchapter V Trustee ----------------------------------------------------------- The Acting U.S. Trustee for Region 5 appointed Frederick Bunol as Subchapter V trustee for Giroir Holdings, LLC. Mr. Bunol will be paid an hourly fee of $390 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Bunol declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Frederick L. Bunol 3027 Ridgelake Drive Metairie, LA 70002 Telephone: (504) 207-0913 Facsimile: (504) 832-0327 Email: Fbunol@derbeslaw.com About Giroir Holdings LLC Giroir Holdings, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D. La. Case No. 25-12231) on October 3, 2025, with $50,001 to $100,000 in assets and $500,001 to $1 million in liabilities. Judge Meredith S. Grabill presides over the case. Raphael Bickham, Esq., at Bickham Law Practice LLC represents the Debtor as bankruptcy counsel. GLOBAL CONCESSIONS: Seeks to Extend Exclusivity to Jan. 27, 2026 ---------------------------------------------------------------- Global Concessions Inc., asked the U.S. Bankruptcy Court for the Northern District of Georgia to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to January 27, 2026 and Mach 28, 2026, respectively. This Motion is the Debtor's second request for an extension of the Exclusivity Periods, and the request will not unfairly prejudice or pressure the Debtor's creditor constituencies or grant the Debtor any unfair bargaining leverage. The Debtor needs creditor support to confirm any plan, so the Debtor is in no position to impose or pressure its creditors to accept unwelcome plan terms. The Debtor explains that premature termination of the Exclusivity Periods may engender duplicative expense and litigation associated with multiple competing plans. Any litigation with respect to competing plans and resulting administrative expenses will only decrease recoveries to the Debtor's creditors and significantly delay, if not undermine entirely, the possibility of prompt confirmation of a plan of reorganization. The Debtor claims that given the consequences for the company's estate if the relief requested herein is not granted and the substantial progress made to date, the requested extension of the Exclusivity Periods will not prejudice the legitimate interests of any party in interest in this case. Rather, the extension will further the Debtor's efforts to preserve value and avoid unnecessary and wasteful litigation. Global Concessions Inc. is represented by: Benjamin Keck, Esq. Jonathan Clements, Esq. Keck Legal, LLC 2801 Buford Highway NE, Suite 115 Atlanta, GA 30329 Tel: (470) 826-6020 Email: bkeck@kecklegal.com About Global Concessions, Inc. Global Concessions Inc., established in 1990 and headquartered in Atlanta, Georgia, specializes in operating food and beverage concessions, primarily within major transportation hubs across the United States. The Company has expanded its portfolio to include a diverse range of dining experiences, from quick-service partnerships with renowned brands like IHOP Express, Ben & Jerry's, and Nathan's Famous, to unique, stand-alone restaurants such as Sweet Georgia's Juke Joint and One Flew South. Global Concessions Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-53640) on April 2, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million. The Debtor tapped Benjamin Keck, Esq., at Keck Legal, LLC as counsel and GlassRatner Advisory & Capital Group, LLC, doing business as B. Riley Advisory Services, as restructuring advisor. GRACE AND FAVOR: Claims to be Paid from Rental Income ----------------------------------------------------- Grace and Favor, LLC, filed with the U.S. Bankruptcy Court for the District of New Jersey a Disclosure Statement describing Plan of Reorganization dated October 7, 2025. The Debtor is a single asset real estate company. The Debtor was established to purchase and own real property 32-38 Roosevelt Ave., Plainfield, NJ 07060 ("Real Property"). The Real Property is a single unit commercial property is leased to HealthWise Family Care Center, LLC. Having purchased the property mid-2019, the Debtor's ability to complete the construction, costs of construction, and obtain permits and materials, coupled with the pressures and impact of COVID itself on the principal, a physician supplying outpatient serves during a pandemic. The combination of all these factors strained the most values resource, time and money, which caused delays resulting in the Certificate of Occupancy not being obtained until June 2022. Ultimately, prior to taking possession, Healthwise covered construction costs in order to obtain the Certificate of Occupancy and bring the building up to code. The Debtor's principal, Dr. Hutter, applied for a loan to refinance the debt but was denied as a result of the pending foreclosure. A final judgment of foreclosure was entered on January 24, 2025. Crown Bank refused to accept the cure payments and in January 2025 stopped accepting payments from the Debtor. The Debtor incurred attorney's fees in seeking the loan modification, refinance and ultimately filing bankruptcy. The Debtor has signed a written lease and increased the rent of its sole tenant, Health-Wise from $1400 a month to $2,281 per month. Tenant's common area charges for property taxes and insurance were included in the rent. Tenant would pay additional common area charges as required. Under the terms of the new lease, Tenant is responsible for 100% of common area expenses ("CAM") including but not limited to property taxes and insurance, payable quarterly, in addition to the rent, which is estimated at $2,371.71. Class 2 consists of the Unsecured Claim of Healthwise Family Care Center LLC. Parties to enter into a forbearance agreement and defer any payment until after the completion of the plan. The Debtor will continue to operate as a single asset real estate company. The Plan will be funded by the collection of rent and common area charges from its tenant, Healthwise Family Care Center, LLC. Debtor will be required to pay all property taxes and insurance during the pendency of the plan and there will be no escrow payment to Crown Bank. A full-text copy of the Disclosure Statement dated October 7, 2025 is available at https://urlcurt.com/u?l=iqQWi6 from PacerMonitor.com at no charge. Counsel to the Debtor: Jenee K. Ciccarelli, Esq. Law Offices of Wenarsky & Goldstein, LLC 410 Route 10 West, Ste. 214 Ledgewood, NJ 07852 Telephone: (973) 927-5100 Facsimile: (973) 927-5252 Email: jenee@wg-attorneys.com About Grace and Favor Grace and Favor, LLC was established to purchase and own real property 32-38 Roosevelt Ave., Plainfield, NJ 07060 ("Real Property"). The Debtor filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 25-16554) on June 21, 2025, listing up to $500,000 in both estimated assets and liabilities. Judge Stacey L. Meisel oversees the case. Jenee K. Ciccarelli, Esq., at the Law Offices of Wenarsky & Goldstein, LLC serves as the Debtor's counsel. GRANT ANTIQUES: Gets Final OK to Use Cash Collateral ---------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida, Orlando Division, entered a final order granting Grant Antiques, Inc.'s motion to use cash collateral. All prior interim orders granting the motion are deemed final. The U.S. Small Business Administration and other secured creditors claim a security interest in the Debtor's assets. However, SBA is in first priority and has a lien on all of the Debtor's assets including accounts and receivables, and has the priority over all other creditors. The agency is owed approximately $140,000. The estimated value of the secured assets at the time of the filing of the Debtor's Chapter 11 case was approximately $275,000. About Grant Antiques Inc. Grant Antiques Inc. operates as an antique mall offering a wide range of antiques, collectibles, and vintage items. The Company is based in Grant, Florida, with additional presence in Fort Pierce, Florida. It is registered as a Florida corporation and serves antique enthusiasts through its multiple dealer booths and consignment sales. Grant Antiques sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-02931) on May 15, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Grace E. Robson handles the case. The Debtor is represented by Brian K. McMahon, Esq., at Brian K. McMahon, PA. GREEN SAPPHIRE: Hires Anthony J. Peraica & Associates as Counsel ---------------------------------------------------------------- Green Sapphire Holdings seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to employ Anthony J. Peraica & Associates, Ltd. as counsel. The firm's services include: (a) negotiate with creditors; (b) prepare motions and adversaries filed in the case; (c) interact with the trustee in this case; (d) attend court hearings; and (e) represent the Debtor in matters before the court. The firm will be paid at these hourly rates: Anthony Peraica, Attorney $475 Stephen Boulton, Attorney $475 Mr. Peraica 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: Anthony J. Peraica, Esq. Anthony J. Peraica & Associates, Ltd. 5130 S. Archer Ave., Ste. 1 Chicago, IL 60632 Telephone: (773) 735-1700 About Green Sapphire Holdings Green Sapphire Holdings Inc., f/d/b/a Organic Fuels Holdings, Inc., provides specialized financial investment services, including portfolio management and investment advisory, operating within the broader financial sector. Green Sapphire Holdings Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-07412) on May 14, 2025. In its petition, the Debtor reports estimated assets and liabilities between $50 million and $100 million. Honorable Bankruptcy Judge Jacqueline P. Cox handles the case. The Debtor tapped Modestas Law Offices, PC and Anthony J. Peraica & Associates, Ltd. as counsel. HARLING INC: Court Extends Cash Collateral Access to Oct. 22 ------------------------------------------------------------ Harling, Inc. received another extension from the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, to use cash collateral. The interim order penned by Judge Jacqueline Cox authorized the Debtor to use cash collateral retroactive to the date of filing the Debtor's Chapter 11 case through October 22. As protection from any diminution in the value of its collateral, Byline Bank was granted a first-priority lien on property acquired by the Debtor after the petition date, including all proceeds and products thereof. This lien will have the same priority and extent as the bank's pre-bankruptcy lien. A further hearing is scheduled for October 21. The Debtor previously entered into two loan agreements with Byline Bank: one for $250,000 and another for $1.05 million, both secured by the Debtor's assets, including equipment, inventory, accounts receivable, and general intangibles. Byline Bank has filed proofs of claim for $218,647 and $741,213 on those respective loans. The Debtor's schedules list total assets of $29,137, primarily composed of $21,447 in accounts receivable and $3,500 in office furniture and equipment. About Harling Inc. Harling Inc. specializes in masonry facade repair, restoration, and building waterproofing services for commercial, industrial, and institutional buildings. It is based in Broadview, Ill. Harling sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-04324) on March 1, 2025. In its petition, the Debtor reported between $100,000 and $500,000 in assets and between $1 million and $10 million in liabilities. Judge Jacqueline P. Cox handles the case. Joel Schechter, Esq., at the Law Offices of Joel A. Schechter is the Debtor's legal counsel. Byline Bank, as secured creditor, is represented by: Martin J. Wasserman, Esq. Carlson Dash, LLC 216 S. Jefferson St., Suite 303 Chicago, IL 60661 Phone: 312-382-1600 mwasserman@carlsondash.com HIGHER GROUND: Unsecureds Will Get 1.8% to 10.1% of Claims ---------------------------------------------------------- Higher Ground Education, Inc., its affiliates, and the Official Committee of Unsecured Creditors submitted a First Amended Disclosure Statement for the First Amended Joint Plan dated October 6, 2025. The Debtors and the Committee strongly believe that the Plan is in the best interests of the Debtors' estates, their respective creditors and interest holders, and that the Plan represents the best available alternative at this time and will provide material benefits to the stakeholders in these Chapter 11 Cases. In the months leading up to the Petition Date, the Debtors worked with several of their key stakeholders to formulate a joint pre arranged chapter 11 plan pursuant to a restructuring support agreement (the "Restructuring Support Agreement" or the "RSA") among the Debtors and (a) 2HR Learning, Inc., a prepetition secured creditor and arms-length investor which has agreed to act as plan sponsor; (b) YYYYY, Inc. ("Five Y"), which agreed to act as the Junior DIP Lender; (c) Guidepost Global Education, Inc., which has agreed to contribute certain of its assets pursuant to the Plan and to act as the Junior DIP Lender; (d) Ramandeep (Ray) Girn ("Mr. Girn") the Debtors' co-founder and former chief executive officer, and Rebecca Girn, the Debtors' co-founder and former general counsel ("Ms. Girn" and together with Mr. Girn, the "Girns"); (e) Yu Capital, LLC and its affiliated entities that represent a significant number of the Debtors' EB-5 Investors; and (f) the consenting parties thereto (with the other signatories to the RSA, the "Supporting RSA Parties"). Following numerous weeks of settlement negotiations, the Debtors, the Committee, and the majority of the Supporting RSA Parties reached a settlement in principle that resolves the Committee's concerns. On September 12, 2025, and pursuant to Section 10 of the RSA, the Debtors exercised their "fiduciary out" under the RSA and notified the Supporting RSA Parties that the Debtors were terminating the RSA to pursue confirmation of this Plan (the "RSA Fiduciary Out"). In addition to the Committee's support, this Plan is supported by the vast majority of the Supporting RSA Parties (the "Settlement Parties"). At a high level, and as further detailed in this Disclosure Statement, the Plan is the result of the Debtors' and the Committee's settlement negotiations with the Settlement Parties and generally provides, among other things, for: (a) derivative standing for the Committee to serve a settlement demand on one or more Non-Released D&Os; (b) the Surplus DIP Cash, which the Debtors and the Committee project to be $500,000 as of the Effective Date, to be contributed to the Liquidating Trust; (c) the payment of $1,950,000 of Cash from the Settlement Parties to the Liquidating Trust (the "Settlement Party Payment"); (d) the transfer of all rights of the Debtors or their Estates existing on the Effective Date under the D&O Insurance Policies to the Liquidating Trust, including the D&O Insurance Proceeds and certain Retained Causes of Action, including against Non-Released D&Os; (e) the contribution by Guidepost Global of Curriculum Assets and the Guidepost Global IP License (each as defined in the Plan); (f) the transfer of the Designated EB-5 Entities (as defined in the Plan) by the Debtors to Guidepost Global; (g) the assignment of certain executory contracts and unexpired leases to Guidepost Global, Cosmic Education Americas Limited ("CEA"), or TNC Schools, LLC or their designated assignees; (h) the treatment of holders of allowed claims in accordance with the Plan and the priority scheme established by the Bankruptcy Code; and (i) the reorganization of the Debtors by retiring, cancelling, extinguishing and/or discharging the Debtors' prepetition equity interests or its designee(s) and issuing new equity interests in the reorganized debtor(s) to 2HR. Class 3 consists of the CN Note Claims. On or as soon as practicable after the Effective Date, except to the extent a Holder of Allowed CN-1 Note Claim agrees to less favorable treatment, each Holder of an Allowed CN-1 Note Claim shall receive, in full and final satisfaction of such CN-1 Note Claim, a beneficial interest in the Liquidating Trust. Thereafter, each such Holder of an Allowed CN-1 Note Claim shall receive Cash distributions from the Liquidating Trust. Distributions from the Liquidating Trust to Holders of Allowed CN-1 Note Claims shall be on a pro rata basis with all other Liquidating Trust Beneficiaries in accordance with the terms of the Liquidating Trust Agreement. Class 4 consists of the CN-2 Note Claims. Class 4 is Impaired, and the Holders of Claims in Class 4 are entitled to vote to accept or reject the Plan. The CN-2 Note Claims are allowed under the Plan. All Holders of CN-2 Note Claims shall be deemed to have waived their distribution under the Plan on account of their respective Allowed CN-2 Note Claims; provided, however, that all CN-2 Note Claims held by Plan Sponsor and Senior DIP Lender shall not be deemed satisfied, released, settled, and/or discharged under the Plan. Class 5 consists of the CN-3 Note Claims, the Holders of which (a) are Settlement Parties or (b) will be offered the right to become an investor or other creditor of Guidepost Global in lieu of receiving a distribution under the Plan. Class 5 is Impaired, and the Holders of Claims in Class 5 are entitled to vote to accept or reject the Plan. The CN-3 Note Claims held by the Settlement Parties are Allowed Claims under the Plan, All Holders of Allowed CN-3 Note Claims shall be deemed to have waived their distribution under the Plan on account of their respective Allowed CN-3 Note Claims; provided, however, that all CN-3 Note Claims held by the Plan Sponsor and Senior DIP Lender shall not be deemed satisfied, released, settled, and/or discharged under this Plan. Class 8 consists of General Unsecured Claims. On or as soon as practicable after the Effective Date except to the extent that a Holder of an Allowed General Unsecured Claim agrees to less favorable treatment, each Holder of an Allowed General Unsecured Claim shall receive, in full and final satisfaction of such Allowed General Unsecured Claim, a beneficial interest in the Liquidating Trust. Thereafter, each such Holder of an Allowed General Unsecured Claim shall receive Cash distributions from the Liquidating Trust. Distributions from the Liquidating Trust to Holders of Allowed General Unsecured Claims shall be on a pro rata basis with all other Liquidating Trust Beneficiaries in accordance with the terms of the Liquidating Trust Agreement. This Class will receive a distribution of 1.8% to 10.1% of their allowed claims. Sources of consideration for Plan distributions shall be (a) the Plan Sponsor Consideration, (b) the Surplus DIP Cash, (c) the Settlement Party Payment, (d) any D&O Claim Resolution, (e) the Liquidating Trust Assets, and (f) the D&O Insurance Policies. The Debtors, the Committee, and the Settlement Parties have reached a global resolution of all issues among them in these Chapter 11 Cases. Pursuant to Bankruptcy Rule 9019, the Plan does, and shall, constitute a compromise, settlement, and release of all potential claims by and among the Debtors, the Committee, and Settlement Parties. Entry of the Confirmation Order shall constitute approval of the global resolution, which shall become effective upon the Effective Date. A full-text copy of the First Amended Disclosure Statement dated October 6, 2025 is available at https://urlcurt.com/u?l=DOcJdf from Verita Global, LLC fka Kurtzman Carson Consultants, LLC, claims agent. The Debtors' Counsel: Holland N. O'Neil, Esq. FOLEY & LARDNER LLP 2021 McKinney Avenue, Suite 1600 Dallas, TX 75201 Tel: (214) 999-3000 Fax: (214) 999-4667 honeil@foley.com - and - Timothy C. Mohan, Esq. FOLEY & LARDNER LLP 1144 15th Street, Ste. 2200 Denver, CO 80202 Tel: (720) 437-2000 Fax: (720) 437-2200 Email: tmohan@foley.com - and - Nora J. McGuffey, Esq. Quynh-Nhu Truong, Esq. FOLEY & LARDNER LLP 1000 Louisiana Street, Suite 2000 Houston, TX 77002 Tel: (713) 276-5500 Fax: (713) 276-5555 Email: nora.mcguffey@foley.com qtruong@foley.com About Higher Ground Education Higher Ground Education Inc. and its subsidiaries operate Montessori schools and provide related training and consulting services worldwide. Founded in 2016, the Group grew to manage more than 150 schools by 2024, with locations across the U.S. and international expansion into Hong Kong and mainland China. It also offers virtual and home-based education, teacher training, and licensing of its content to independent partners. Higher Ground Education Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 25-80121) on June 17, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. Bankruptcy Judge Michelle V. Larson handles the case. The Debtors tapped Foley & Lardner LLP, as counsel; and SierraConstellation Partners, LLC, as financial advisor. Verita Global, LLC, f/k/a Kurtzman Carson Consultants, LLC, is the claims agent. HINDS COUNTY RAYMOND: Control Shifts to Federal Receiver -------------------------------------------------------- Shamira Muhammad of mpb reports that a federal receiver has officially taken over management of the Hinds County Raymond Detention Center after years of court battles and resistance from county officials. Receiver Wendell France's appointment was delayed by several appeals, but Judge Carlton Reeves of the Southern District of Mississippi ultimately ruled that repeated violations of detainees' constitutional rights warranted federal oversight, according to the report. The jail has faced mounting problems, including homicides, overdoses, and critical staffing shortages. Hernandez Stroud, a senior fellow at the Brennan Center for Justice, called the receivership a rare event, noting that such federal interventions have occurred only about a dozen times nationwide. "The county was either unwilling or unable to correct the constitutional violations," he said, emphasizing that the decision reflects the court's duty to protect inmates' rights, according to report. Stroud added that Judge Reeves likely viewed the receivership as a last resort. "He probably doesn't want to manage the jail himself," Stroud said, "but he must ensure that constitutional standards are upheld." The ultimate outcome of the federal takeover remains uncertain. Stroud cautioned that improvements made under receiverships often erode once local authorities regain control. The receiver and their staff have not commented publicly, while the Hinds County Board of Supervisors—now operating under an emergency declaration to combat overcrowding—has yet to issue a formal statement, the report states. About Hinds County Raymond Detention Center Hinds County Raymond Detention Center is a county jail facility located in Raymond, Mississippi. HURST OPERATIONS: Section 341(a) Meeting of Creditors on Nov. 12 ---------------------------------------------------------------- On October 7, 2025, Hurst Operations Inc. filed Chapter 11 protection in the Northern District of Texas. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. A meeting of creditors under Section 341(a) to be held on November 12, 2025 at 09:30 AM by TELEPHONE. About Hurst Operations Inc. Hurst Operations Inc., doing business as Boney Joes, operates a quick-service restaurant in Burleson, Texas, offering pizza, sub sandwiches, wraps, grilled cheese, soft pretzels, and other casual dining items. Hurst Operations Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-43906) on October 7, 2025. In its petition, the Debtor reports estimated assets between $100,000 and $500,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Edward L. Morris handles the case. The Debtor is represented by Joseph F. Postnikoff, Esq. of Rochelle Mccullough, LLP. IF YOU PLEASE: Gets Interim OK to Use Cash Collateral Until Oct. 31 ------------------------------------------------------------------- If You Please, LLC received interim approval from the U.S. Bankruptcy Court for the District of Arizona to use cash collateral through October 31. The court's interim order authorized the Debtor to use cash collateral to pay the expenses set forth in its monthly budget, subject to a 10% variance. The Debtor projects total operational expenses of $133,999 for October and $167,760 for November. Evolve Bank & Trust, a secured creditor, will be granted a replacement lien on the Debtor's post-petition assets such as cash and receivables in case of any decrease in the value of its pre-bankruptcy security interests resulting from the Debtor's use of cash collateral. The order preserves all parties' rights to dispute the extent, validity or priority of any security interests. Additionally, the Debtor was ordered to make monthly payments of $1,533 to Evolve Bank & Trust; $350 to Centra Funding LLC; and $300 to North Star Leasing. A final hearing is scheduled for October 28, with objections due by October 21. As of the petition date, the Debtor identifies approximately $40,750 in assets that may constitute or be converted into cash collateral, including bank accounts, accounts receivable, inventory, and claims. Since the Debtor anticipates post-petition revenues will exceed expenses, it expects to replenish any used collateral with new cash and receivables, maintaining the value of the secured interests. The only creditor with a first-position secured interest in the cash collateral is Evolve Bank & Trust, holding a lien backed by a UCC-1 filing from January 2024 and an undersecured claim of roughly $442,895, with collateral worth only $73,301. Other lenders -- ODK Capital, Kalamata Capital Group, and Funding Metrics (doing business as Lendini) -- have subordinate liens with no unencumbered collateral. The Debtor also identifies purchase-money equipment creditors -- Centra Funding, North Star Leasing (for 2024 and 2025 equipment), and Pawnee Leasing -- with interests limited to specific equipment. About If You Please LLC If You Please, LLC, doing business as Honeymoon Sweets European Bakery, operates a retail, wholesale, and catering bakery based in Tempe, Arizona. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 25-09405) on October 2, 2025, listing up to $500,000 in assets and up to $10 million in liabilities. Krista Gordon, member, signed the petition. Judge Daniel P. Collins oversees the case. Ronald J. Ellett, Esq., at Ellett Law Offices, P.C., represents the Debtor as bankruptcy counsel. INTELLIGENT PAYMENT: Seeks to Tap Sobers Law as Bankruptcy Counsel ------------------------------------------------------------------ Intelligent Payment Processing, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Sobers Law, PLLC as counsel. The firm will render these services: (a) attend meetings and negotiate with representatives of creditors and other parties-in- interest; (b) prepare and prosecute on behalf of the Debtor all legal papers necessary for the administration of the estates; (c) negotiate and prepare on the Debtors' behalf Chapter 11 plan(s), disclosure statement(s) and all related agreements and/or documents; (d) advise the Debtor with respect to any sale of assets and negotiate and prepare on its behalf all agreements related thereto; and (e) appear before the Court, and protect the interests of the Debtors' estate before such courts; and perform all other legal services in connection with the Chapter 11 case and without duplication of other professionals' services. Post-petition, the Debtor has agreed to pay the firm at a rate of $400 per hour upon approval of the Court. The firm will not charge the Debtor for paraprofessionals. The firm was paid an initial retainer of $7,500 on or about July 18, 2024. Vivian Sobers, Esq., a member at Sobers Law, 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: Vivian Sobers, Esq. Sobers Law, PLLC 11 Broadway, Suite 615 New York, NY 10004 Telephone: (917) 225-4501 Facsimile: (888) 353-5984 Email: vsobers@soberslaw.com About Intelligent Payment Processing Intelligent Payment Processing Inc. is a Florida-based company. Intelligent Payment Processing Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-20183) on August 29, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities up to $50,000. Honorable Bankruptcy Judge Scott M. Grossman handles the case. The Debtor is represented by Vivian Sobers, Esq., at Sobers Law PLLC. JACKSON HOSPITAL: Bankruptcy Hearing Shows Future in Doubt ---------------------------------------------------------- WSFA 12 News reports that Jackson Hospital, its creditors, and its lender returned to bankruptcy court for a hearing that underscored the Montgomery medical center's fragile financial state. The hospital, which filed for Chapter 11 bankruptcy to stay open while restructuring its debt, said it needs more funds from its debtor-in-possession (DIP) loan to continue operations beyond October, according to the report. The dispute centers on control of the hospital's board: the DIP lenders want authority to replace directors in exchange for additional financing, while bondholders insist the board remain independent. Judge Christopher Hawkins urged both sides to reach an agreement before an informal conference next week, warning he'll rule on the funding issue if no deal is made, the report states. CEO updates during the hearing revealed 188 beds currently occupied but insufficient cash to shut down operations in an orderly fashion. The Montgomery City Council later passed a resolution supporting the hospital, as creditors cautioned it could close by month's end without new funding. About Jackson Hospital & Clinic Inc. Jackson Hospital & Clinic, Inc. is a non-membership, non-profit corporation based in Alabama. JHC is the direct or indirect parent company of JHC Pharmacy, LLC, an Alabama limited liability company that provides pharmacy services to JHC patients. JHC owns 100% of JHC Pharmacy. Additionally, JHC is a direct or indirect parent company of certain other entities that have not filed for bankruptcy. JHC operates a 344-bed healthcare facility in Montgomery, Ala., with a rich history dating back to 1894. Since its official opening in 1946, JHC has grown into one of the largest hospitals in Alabama, offering specialized services in cardiac care, cancer treatment, neurosciences, orthopedics, women's care, and emergency services. JHC's service area includes 16 counties across central Alabama. JHC and JHC Pharmacy filed Chapter 11 petitions (Bankr. M.D. Ala. Lead Case No. 25-30256) on February 4, 2025. In its petition, JHC reported between $100 million and $500 million in both assets and liabilities. Judge Christopher L. Hawkins handles the cases. The Debtors are represented by Derek F. Meek, Esq. at Burr & Forman, LLP. Suzanne Koenig serves as patient care ombudsman. JET EXPRESS: Natasha Songonuga Named Subchapter V Trustee --------------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Natasha Songonuga, Esq., at VTrustee, LLC as Subchapter V trustee for Jet Express, LLC. Ms. Songonuga will be paid an hourly fee of $450 for her services as Subchapter V trustee and will receive reimbursement for work related expenses incurred. Ms. Songonuga declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Natasha Songonuga, Esq. VTrustee LLC PO Box 841 Wilmington, DE 19899 Email: Nsongonuga@VTrusteellc.com About Jet Express LLC Jet Express, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-20181) on September 29, 2025, with $50,001 to $100,000 in assets and $100,001 to $500,000 in liabilities. Judge Mark Edward Hall presides over the case. Jenee K. Ciccarelli, Esq., at Wenarsky and Goldstein, LLC represents the Debtor as legal counsel. JJ BADA: Seeks Approval to Hire Auction Advisors as Auctioneer -------------------------------------------------------------- JJ Bada 46 Operating Corp. seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ Auction Advisors LLC as auctioneer. The Debtor needs an auctioneer to market its assets, including its liquor license, for sale and conduct an auction sale of the assets. The firm will charge a commission equal to 10 percent of the bid amount. It will also charge the buyer a buyer's premium equal to 15 percent of the bid amount. The firm represents no interest adverse to the Debtor or to the estate on the matters upon which it is to be engaged. The firm can be reached at: Auction Advisors LLC 1350 Avenue of the Americas 2nd Floor New York, NY 10019 Telephone: (800) 862-4348 About JJ Bada 46 Operating JJ Bada 46 Operating Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-11078) on Feb. 1, 2025, listing up to $1 million in both assets and liabilities. Judge Stacey L. Meisel handles the case. Rosemarie E. Matera, Esq., is the Debtor's counsel. JJTA11 REAL: Case Summary & One Unsecured Creditor -------------------------------------------------- Debtor: JJTA11 Real Properties LLC 2501 Jammes Road Jacksonville, FL 32210 Business Description: JJTA11 Real Properties LLC is a single-asset real estate company specializing in leasing its property to tenants. Its main asset is located at 550 Comet Street, Jacksonville, Florida 32205. Chapter 11 Petition Date: October 10, 2025 Court: United States Bankruptcy Court Middle District of Florida Case No.: 25-03677 Judge: Hon. Jacob A Brown Debtor's Counsel: Jeffrey S. Ainsworth, Esq. BRANSONLAW, PLLC 1501 E. Concord Street Orlando, FL 32803 Tel: 407-894-6834 Email: jeff@bransonlaw.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Jarek Tadla, manager of Peoples Choice Apartments LLC, which serves as the manager for JJTA11 Real Properties. The Debtor listed Wilmington Trust National c/o Zachary J. Bancroft, Esq., located at 200 South Orange Avenue, Suite 2050, Orlando, FL 32801, as its sole unsecured creditor, with a $923,171 claim. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/4OXAG7A/JJTA11_Real_Properties_LLC__flmbke-25-03677__0001.0.pdf?mcid=tGE4TAMA KC 11: To Sell Tarzana Property to Tomer On for $1.6MM ------------------------------------------------------ KC 117 LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California, San Fernando Valley Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor wants to sell the right, title, and interest in a parcel of the real property commonly known as 5712 Donna Ave., Tarzana, Ca 91356. The Debtor wants to sell the Property to Tomer On for the purchase price of $1,605,000 and to authorize escrow to pay commissions to the real estate brokers and 3.5% listing agent and up to 2.5% buyer's agent as long as the net to the estate is higher/better in any over-bid hearing. The Debtor intends to sell the Property to the Buyer free and clear of all liens and claims, with those liens removed from the Property and the allowed amounts of certain liens. Sufficient surplus funds will be available to cover any possible capital gains taxes resulting from the sale which Escrow may hold in the amount of 3% of any such gain or such other amounts allowed by the Court. About KC 117 LLC KC 117 LLC is a limited liability company. KC 117 LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-11802) on September 29, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities up to $50,000. The Debtor is represented by Shai Oved, Esq. of THE LAW OFFICES OF SHAI OVED. KOLAY FLOORING: Seeks to Extend Plan Exclusivity to Feb. 27, 2026 ----------------------------------------------------------------- Kolay Flooring International LLC asked the U.S. Bankruptcy Court for the Central District of California to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to February 27, 2026 and April 24, 2026, respectively. Currently, Debtor is in the process of seeking Court approval for a settlement agreement with Diamond Creek Capital, LLC ("DCC"), Debtor's largest and only secured creditor ("DCC Settlement"). Once the DCC Settlement is approved by the Court, the Debtor can focus on its reorganization efforts and obtaining third party financing which is critical to Debtor's successful reorganization. The Debtor explains that creditors will benefit if the company is able to continue to focus its efforts in these areas and on preparing its plan, rather than being required to address a plan proposed by another proponent. The Debtor claims that it has been working to analyze its debts, the values of its assets, and collect and monetize assets. The Debtor and DCC have participated in arduous negotiations culminating in the terms of the DCC Settlement which resolves all claims between the parties and which Debtor will promptly seek an order of the Court approving the DCC Settlement. Additionally, Debtor will require third party financing in its bankruptcy proceedings and the resolving the claims of DCC and the release of DCC's $13 million lien will likely increase the chances of Debtor obtaining this third-party financing which is critical to its chapter 11 reorganization. Debtor will benefit from being able to focus on the foregoing efforts without having to address a competing plan. Kolay Flooring International, LLC is represented by: Marc C. Forsythe, Esq. Reem J. Bello, Esq. Goe Forsythe & Hodges LLP 17701 Cowan, Lobby D, Suite 210 Irvine, CA 92614 Telephone: (949) 798-2460 Facsimile: (949) 955-9437 E-mail: rgoe@goeforlaw.com About Kolay Flooring International Kolay Flooring International, LLC, is an Iowa limited liability company having a principal place of business at 20819 Currier Road, Suite 300, City of Industry, CA 91789. Kolay Flooring International LLC sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 24-186880) on October 24, 2025. Judge Deborah J Saltzman presides over the case. The Debtor is represented by Marc C. Forsythe, Esq. at GOE FORSYTHE & HODGES LLP. KOSMOS ENERGY: S&P Affirms 'CCC+' ICR on Partial Refinancing ------------------------------------------------------------ S&P Global Ratings affirmed its 'CCC+' issuer credit rating on Kosmos Energy Ltd. (Kosmos), a Dallas-based oil and gas exploration and production (E&P) company. S&P said, "At the same time, we raised our issue-level rating on Kosmos' unsecured debt to 'CCC+' from 'CCC' and revised our recovery rating to '4' from '5', reflecting a higher estimated valuation under current commodity price assumptions. The '4' recovery rating indicates our expectation for average (30%-50%; rounded estimate: 40%) recovery of principal to creditors in the event of a payment default. "The negative outlook reflects the likelihood that we could lower the rating if the company is unable to meet its upcoming debt obligations and refinance its near-term maturities in a timely and favorable manner or if liquidity deteriorates further." On Oct. 6, 2025, Kosmos used proceeds from its new $250 million senior secured term loan to redeem $150 million of its $250 million 7.125% senior unsecured notes due April 2026. The company also completed the semiannual redetermination of its reserve-based lending (RBL) facility, maintaining its $1.35 billion borrowing base, and passed the 18-month liquidity test tied to its May 2027 notes, avoiding a springing maturity trigger. While these developments ease near-term liquidity concerns, S&P maintains its view that Kosmos' capital structure remains unsustainable due to a significant debt maturity schedule and its expectation that Kosmos will rely on favorable market conditions to meet its obligations--including term loan amortization beginning June 30, 2026. The recent refinancing transaction alleviates near-term liquidity concerns. Kosmos entered into a senior secured term loan facility for up to $250 million to repay its 7.125% senior unsecured notes due April 6, 2026. The facility, secured by the company's Gulf of Mexico assets, has a four-year maturity from the closing date and is structured in two tranches. The initial $150 million tranche became available in October of this year, with the remaining $100 million available through April 1, 2026. Kosmos utilized proceeds from the initial tranche to redeem $150 million of the 2026 maturing notes, and we anticipate the company will redeem the remaining balance next year. The company completed RBL redetermination, retaining $1.35 billion borrowing base, and passed liquidity test tied to May 2027 notes. Kosmos recently completed the semiannual redetermination of its RBL facility, maintaining its $1.35 billion borrowing base, and passed the 18-month liquidity test tied to its May 2027 notes, avoiding a springing maturity trigger. The RBL includes a springing maturity provision applicable to all notes maturing through 2029. This provision stipulates that if Kosmos fails to refinance the relevant notes or demonstrate full repayment capacity through an 18-month liquidity test, the RBL maturity will accelerate to six months prior to the applicable bond maturity. While Kosmos has passed the liquidity tests for its 2026 and 2027 notes, it remains subject to ongoing six-month liquidity tests in March and September and must pass the 18-month test related to its 2028 notes in September 2026. The RBL agreement also requires Kosmos to maintain a net leverage ratio not exceeding 3.5x. In July 2025, the company secured a waiver from its lenders and amended its debt covenant, increasing the leverage threshold to 4.0x for the September 2025 test and 4.25x for the March 2026 test. As of June 30, 2025, Kosmos's reported leverage provided limited cushion under its covenant, heightening the risk of a potential breach. If Kosmos breaches the leverage covenant, it has a 45-day cure period to address the issue through prepayment, equity contribution, or other corrective actions, potentially including negotiating a waiver. S&P said, "Given our expectation of continued negative free cash flow generation under our current commodity price assumptions, we believe there is a heightened risk that Kosmos may not meet future liquidity tests, which could further pressure its already constrained liquidity profile." S&P said, "The rating affirmation reflects our view that Kosmos's capital structure remains unsustainable. This is primarily due to a significant debt maturity and amortization schedule and our expectation that the company will rely on favorable market conditions to meet its obligations. Pro forma for the recent transaction, Kosmos has $100 million outstanding on its 7.125% senior notes due April 2026, $350 million of 7.750% senior unsecured notes due May 2027, and $400 million of its 7.50% senior notes due 2028, with $900 million of unsecured notes maturing in subsequent years. As of June 30, 2025, the company had $1 billion drawn on its $1.35 billion RBL credit facility due December 2029, which begins amortizing in 2027. "Kosmos also faces scheduled amortization on its newly secured term loan, which we estimate at $54 million in 2026, $71 million in both 2027 and 2028, and $54 million in 2029, assuming the facility is fully utilized to address the 2026 maturity. Given our expectations for negative free cash flow and tightening liquidity, we anticipate Kosmos will need to refinance its near-term obligations. While we do not currently expect a default within the next 12 months, the concentration of maturities over the next several years significantly heightens refinancing risk. "We raised our issue-level rating on Kosmos' unsecured debt to 'CCC+' from 'CCC'. Given our view of the company's elevated risk of near-term default, we are applying current commodity price deck assumptions rather than our recovery price deck in our valuation of its proved reserves. As a result of the higher PV-10 valuation under prevailing market conditions, we raised our issue-level rating on the unsecured debt to 'CCC+' from 'CCC' and revised the recovery rating to '4' from '5'. A recovery rating of '4' indicates our expectation of an average recovery of 30%–50% (rounded estimate: 40%) of principal for creditors in the event of a payment default. In addition, our analysis incorporates the recently secured term loan agreement. "The negative outlook reflects the likelihood that we could lower the rating if the company is unable to meet its upcoming debt obligations and refinance its near-term maturities in a timely and favorable manner or if liquidity deteriorates further. Additionally, it reflects our view that the company could engage in a transaction we could view as distressed. "We could lower the rating on Kosmos if the company fails to address its upcoming debt obligations--including term loan amortization beginning in 2026--in a timely and favorable manner or its liquidity profile deteriorates further. This would most likely occur if operational challenges result in production falling below our current expectations, or if the company fails liquidity tests that trigger the springing maturity provision under its RBL. Additionally, we could lower the rating if the company engages in a refinancing transaction that we would consider distressed. "We could revise the outlook to stable if the company successfully addresses its debt obligations in a manner we do not consider to be distressed while also improving its liquidity profile. An improvement in liquidity profile could also result from oil prices exceeding our current expectations or production levels surpassing our existing estimates." KX 84 LLC: Seeks Subchapter V Bankruptcy in Texas ------------------------------------------------- On October 6, 2025, KX 84 LLC filed Chapter 11 protection in theNorthern District of Georgia. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About KX 84 LLC KX 84 LLC is a limited liability company. KX 84 LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-61604) on October 6, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtor is represented by Paul Reece Marr, Esq. of PAUL REECE MARR. P.C. LA NOTTE VENTURES: Court Extends Cash Collateral Access to Nov. 19 ------------------------------------------------------------------ La Notte Ventures, Inc. received interim approval from the U.S. Bankruptcy Court for the Northern District of Illinois to use cash collateral until November 19, marking the 12th extension since its Chapter 11 filing. The 12th interim order authorized the Debtor to operate within 10% of the budget until its use of cash collateral is approved on a permanent basis. The Debtor's budget projects total operational expenses of $24,637.14 for October. As protection for any diminution in the value of its collateral, the U.S. Small Business Administration will be granted replacement liens on all post-petition property of the Debtor, including all cash collateral. These replacement liens will have the same validity, priority and extent as the agency's pre-bankruptcy liens. As additional protection, SBA will continue to receive a monthly payment of $251. The Debtor's authority to use cash collateral terminates upon dismissal or conversion of its Chapter 11 case or upon entry of a court order directing the cessation of the use of cash collateral. The next hearing is scheduled for November 18. About La Notte Ventures La Notte Ventures, Inc., doing business as La Notte Ristorante Italiano, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 24-15860) on October 23, 2024, with up to $50,000 in assets and up to $1 million in liabilities. Judge Jacqueline P. Cox presides over the case. The Debtor is represented by: David R. Herzog, Esq. Law Office of David R. Herzog, LLC 53 W. Jackson Blvd., Suite 1442 Chicago, IL 60604 Telephone: (312) 977-1600 Email: drh@dherzoglaw.com LIDO 10 LLC: Unsecureds to be Paid in Full over 60 Months --------------------------------------------------------- Lido 10 LLC filed with the U.S. Bankruptcy Court for the Central District of California a Second Amended Disclosure Statement describing Second Amended Plan dated October 7, 2025. The Debtor was formed in May 2021 as a California limited liability corporation, for the purpose of owning and operating real property. The Debtor purchased the Properties on September 30, 2021, from the two children of the original owners. SoCal Investments ("SCI") gave the Debtor enough equity to close escrow to purchase the Properties, using three loans from Riverbend Funding, LLC. The Debtor believes the current estimated total value for the Properties is $14,807,097. The Plan proposes balloon payments in order to satisfy secured claims. The Debtor's ability to make these payments is realistic and viable based on the values of the Properties substantially increasing in value through the Plan term due to proposed construction/renovations and the anticipated appreciation of the values. The Debtor will obtain the funds to pay the balloon payments either with a refinance loan or will sell the Properties. In order to estimate the future total values for the Properties, the Debtor is using the conservative capitalization rates1 ("CAP") of 3% and 3.5%, based on estimated net operating income ("NOI") and the anticipated increases to value from the construction/renovations during the Plan term. The total amounts of the loans on the properties are currently approximately $12,346,905. However, this amount should not increase because, pursuant to the Plan, the Debtor will be making interest only payments to U.S. Bank and there is no accruing interest on the loans held by the junior lienholders based on the underlying loan agreements. Therefore, the Debtor believes that the equity and the equity cushion will grow significantly as shown herein. Class 11 consists of General Unsecured Claims. In the present case, the Debtor estimates that general unsecured debts total approximately $169,198. Claimants will be paid in full over 60 months, at $2,840 per month, beginning on the first day of the first month, following the Effective Date. This Class is impaired. Class 12 consists of Insider Unsecured Claims. In the present case, the Debtor estimates that insider unsecured debts total approximately $100,000. The only claimant in this class is Ronald Meer. This insider claim is subordinated to the claims held in Class 11 such that this insider claim will be paid only once all Class 11 claimants are paid in full. Class 13 consists of Interest Holders. The Debtor's members will retain their ownership interests in the Debtor. As set forth in the Projections, the Plan will be funded with the rental income generated from the Properties and equity contributions, in addition to balloon payments in year 10. At such time, the Debtor will obtain financing and/or sell the properties to pay the balloon payments. A full-text copy of the Second Amended Disclosure Statement dated October 7, 2025 is available at https://urlcurt.com/u?l=Iq4x30 from PacerMonitor.com at no charge. Counsel to the Debtor: Roksana D. Moradi-Brovia, Esq. W. Sloan Youkstetter, Esq. RHM LAW LLP 17609 Ventura Blvd., Suite 314 Encino, CA 91316 Telephone: (818) 285-0100 Facsimile: (818) 855-7013 Email: roksana@RHMFirm.com sloan@RHMFirm.com About Lido 10 LLC Lido 10, LLC, a company based in Newport Beach, Calif., filed a Chapter 11 petition (Bankr. C.D. Calif. Case No. 24-11818) on July 19, 2024, with $10 million to $50 million in both assets and liabilities. Judge Theodor Albert oversees the case. Matthew D. Resnik, Esq., at RHM Law, LLP, serves as the Debtor's bankruptcy counsel. LOS PADRINOS: Court Rejects Proposed Receivership ------------------------------------------------- My News LA.com reports that a Los Angeles judge declined to immediately place Los Angeles County's juvenile halls under receivership, rejecting Attorney General Rob Bonta's request while signaling that stronger enforcement could still come. Bonta sought the measure in July after repeated findings of unsafe and unlawful conditions at Los Padrinos and Barry J. Nidorf halls, calling the county's failures "systemic" and dangerous to detained youth, according to the report. Judge Peter Hernandez's ruling upheld his earlier tentative decision, finding that the state had not yet exhausted all available measures to compel compliance. He questioned whether a receiver could navigate the same staffing and legal constraints faced by the county's Probation Department. The judge, however, set a contempt hearing for October 27, 2025 to assess ongoing violations, warning that monetary penalties may follow if the county continues to fall short, according to report. The ruling comes amid mounting scrutiny over the juvenile justice system's failures, including reports of violence, overdoses, and poor oversight. Bonta contends that the county has failed to comply with 75% of prior court-ordered reforms dating back to 2021. Meanwhile, Los Padrinos has faced multiple unsuitability declarations from state regulators and fresh scandals involving contraband smuggling and alleged fights staged by staff, the report states. Following the decision, the Probation Department said it would cooperate with the court and the state to define clearer compliance standards and accelerate reforms. "We must have both the authority and support to remove barriers that hinder progress," the agency said. The department pledged to create safer and more rehabilitative environments for youth while avoiding "no-win situations" that have long undermined reform efforts, the report relays. About Los Padrinos and Barry J. Nidorf Halls Los Padrinos and Barry J. Nidorf are juvenile halls in Los Angeles County. LUXURY TRANSPORTATION: Case Summary & 15 Unsecured Creditors ------------------------------------------------------------ Debtor: Luxury Transportation Group Incorporated 7707 S. Orange Avenue Orlando, FL 32859 Business Description: Luxury Transportation Group Incorporated provides luxury chauffeur and limousine services in Florida, operating primarily in Orlando, Miami, and Tampa. The Company offers airport transfers, theme park shuttles, and event transportation. Chapter 11 Petition Date: October 13, 2025 Court: United States Bankruptcy Court Middle District of Florida Case No.: 25-06551 Debtor's Counsel: Daniel A. Velasquez, Esq. LATHAM LUNA EDEN & BEAUDINE LLP 201 S. Orange Avenue Suite 1400 Orlando, FL 32801 Tel: (407) 481-5800 Fax: (407) 481-5801 E-mail: dvelasquez@lathamluna.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Aleksey Golovnitskiy as president. 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/O22KHQI/Luxury_Transportation_Group_Incorporated__flmbke-25-06551__0001.0.pdf?mcid=tGE4TAMA M.A.M. EXPRESS: Natasha Songonuga Named Subchapter V Trustee ------------------------------------------------------------ The U.S. Trustee for Regions 3 and 9 appointed Natasha Songonuga, Esq., at VTrustee, LLC as Subchapter V trustee for M.A.M. Express, LLC. Ms. Songonuga will be paid an hourly fee of $450 for her services as Subchapter V trustee and will receive reimbursement for work related expenses incurred. Ms. Songonuga declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Natasha Songonuga, Esq. VTrustee LLC PO Box 841 Wilmington, DE 19899 Email: Nsongonuga@VTrusteellc.com About M.A.M. Express LLC M.A.M. Express LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-20174) on September 29, 2025, with $50,001 to $100,000 in assets and $0 to $50,000 in liabilities. Judge Mark Edward Hall presides over the case. Jenee K. Ciccarelli, Esq. at Wenarsky And Goldstein, LLC represents the Debtor as legal counsel. MARKUS CORP: Court Extends Cash Collateral Access to Oct. 31 ------------------------------------------------------------ Markus Corp received interim approval from the U.S. Bankruptcy Court for the Northern District of Illinois to use cash collateral until October 31, marking the eighth extension since its Chapter 11 filing. The Debtor needs to use its lenders' cash collateral to pay the expenses set forth in its budget, which shows total operational expenses of $27,062.50 for the period from October 1 to 31. The Debtor owes $426,224.08 and $264,476.06 to the U.S. Small Business Administration and Village Bank & Trust, N.A., respectively. These creditors have perfected liens on the Debtor's assets, including cash, bank deposits and accounts receivable, which constitute cash collateral. As adequate protection, both lenders will be granted a replacement lien on substantially all of the Debtor's assets, including those acquired after its Chapter 11 filing. This replacement lien will have the same validity and extent as the secured creditors' pre-bankruptcy liens. The lenders will also be granted an administrative expense claim as additional protection. The next hearing is scheduled for October 28. SBA and Village Bank & Trust have a valid blanket lien on assets of the Debtor as of the petition date including the cash proceeds. Both hold a security interest in all assets of the Debtor by way of a valid lien. The Debtor believes SBA's lien has the first priority position. About Markus Corporation Markus Corp is an owner and operator of three semi-trucks and hauls cargo for its client. Markus filed Chapter 11 petition (Bankr. N.D. Ill. Case No. 25-03310) on March 4, 2025, listing up to $100,000 in assets and up to $1 million in liabilities. Markus President Marek Kusmierczyk signed the petition. Judge Timothy A. Barnes oversees the case. Arthur Corbin, Esq., at Corbin Law Firm, LLC, represents the Debtor as bankruptcy counsel. Village Bank & Trust, N.A., as secured lender, is represented by: Jeffrey S. Burns, Esq. Markoff Leinberger, LLC 200 S. Wacker Drive, FL 31 Chicago, IL 60606 Tel: (312) 589-7600 jeff@markleinlaw.com MODIVCARE INC: Amends Plan to Include Sub. Unsecured Notes Claims ----------------------------------------------------------------- ModivCare Inc. and affiliates submitted a Disclosure Statement for First Amended Joint Plan of Reorganization dated October 4, 2025. The Debtors are commencing this Solicitation to implement a comprehensive financial restructuring to significantly deleverage the Debtors' balance sheet to ensure the long-term viability of the Debtors' enterprise. As a result of extensive, good faith, and arm's-length negotiations, the Debtors and Holders of approximately 93% of First Lien Claims, and 70% of Second Lien Claims (the "Consenting Creditors") entered into a restructuring support agreement (including any amendments, modifications and joinders thereto, the "Restructuring Support Agreement") dated as of August 20, 2025. Under the terms of the Restructuring Support Agreement, the Consenting Creditors have agreed, subject to the terms and conditions of the Restructuring Support Agreement, to support a restructuring of the Debtors' existing capital structure and operations in chapter 11 and to vote to accept the Plan. The Debtors will conduct a $200 million Equity Rights Offering, which all eligible Holders of Allowed General Unsecured Claims (excluding First Lien Deficiency Claims) and Holders of Allowed Subordinated Unsecured Noted Claims) will be entitled to participate in. In the event that certain Subordination Agreement, dated as of March 7, 2025 by and among JP Morgan Chasebank, N.A., Ankura Trust Company LLC and Wilmington Savings Fund Society, FSB (the "Subordination Agreement"), were amended, altered or otherwise modified such that the subordination provision set forth therein were no longer applicable to the Holders of Subordinated Unsecured Notes Claims, the Holders of Subordinated Unsecured Notes Claims may be entitled to receive the same treatment under the Plan as the General Unsecured Claims. In such event, the recoveries of the General Unsecured Claims under the Plan would be reduced accordingly on account of increased Claims that share pro rata with the treatment of the General Unsecured Claims. Class 4 consists of General Unsecured Claims. All Allowed General Unsecured Claims (excluding, for the avoidance of doubt, First Lien Deficiency Claims which are hereby deemed waived as of the Effective Date) including all Second Lien Claims which shall be deemed Allowed in the aggregate principal amount of $316,223,250.00 plus accrued and unpaid interest as of the Petition Date in the amount of $12,209,731.04, plus other fees, costs, and expenses of the Second Lien Notes Trustee and the Notes Collateral Agent (as defined in the Second Lien Notes Indenture) under the Second Lien Notes Documents. On or as soon as reasonably practicable after the Effective Date, except to the extent that a Holder of an Allowed General Unsecured Claim agrees to less favorable treatment, in full and final satisfaction settlement, release, and discharge and in exchange for each Allowed General Unsecured Claim, on the Effective Date or on another date acceptable to the Required Consenting First Lien Lenders, each Holder of an Allowed General Unsecured Claim shall receive a Pro Rata Share of the following: * 2% of the New Common Interests, subject to dilution by the DIP Backstop Premium, the Equity Rights Offering (if applicable), the New Warrants, and the MIP; * if such Holder is an Eligible Holder, the New Warrants.; and * if such Holder is an Eligible Holder, on a pro rata basis with the Holders of Allowed General Unsecured Claims and Holders of Allowed Subordinated Unsecured Notes Claims, the right to purchase up to $200,000,000, in aggregate, of New Common Interests pursuant to the Equity Rights Offering. provided, that, each Holder of an Allowed General Unsecured Claim that is less than $1,000,000 may elect to receive, in lieu of the foregoing, its Pro Rata Share (determined pro rata for all Holders of General Unsecured Claims regardless of whether such Holders make such election) of the GUC Cashout Value. Class 4 is Impaired. Class 5 consists of Subordinated Unsecured Notes Claims. All Subordinated Unsecured Notes Claims shall be canceled, released, and extinguished as of the Effective Date, and Holders of Allowed Subordinated Unsecured Notes Claims shall not receive or retain any distribution, property, or other value on account of such Subordinated Unsecured Notes Claims; provided, that, Eligible Holders of Subordinated Unsecured Notes Claims shall receive, in full and final satisfaction, settlement, release, and discharge and in exchange for each Subordinated Unsecured Notes Claim, their Pro Rata Share of the right to purchase, on a pro rata basis with the other Holders of Allowed Subordinated Unsecured Notes Claims and the Holders of Allowed General Unsecured Claims, up to $200,000,000, in aggregate, of New Common Interests pursuant to the Equity Rights Offering. Class 5 is Impaired. Class 9 consists of Existing Parent Equity Interests. Holders of Existing Parent Equity Interests shall not receive or retain any distribution, property, or other value on account of such Existing Parent Equity Interests. On the Effective Date or as soon as reasonably practicable thereafter, all Existing Parent Equity Interests shall be canceled, released, extinguished, and of no further force and effect. Class 9 is Impaired. For purposes of determining whether the Plan meets this requirement, the Debtors have analyzed their ability to meet their obligations under the Plan. As part of this analysis, the Debtors have prepared the consolidated financial projections for the Reorganized Debtors (collectively with the reserve information, development of schedules, and financial information, the "Financial Projections") for fiscal years 2026 through 2030. Based upon such Financial Projections, the Debtors conclude they will have sufficient resources to make all payments required pursuant to the Plan and that confirmation of the Plan is not likely to be followed by liquidation or the need for further reorganization. Moreover, Article IX hereof sets forth certain risk factors that could impact the feasibility of the Plan. The Financial Projections assume that the Plan will be consummated in accordance with its terms and that all transactions contemplated by the Plan will be consummated on or prior to December 8, 2025 (the "Effective Date"). Any significant delay in the Effective Date may have a significant negative impact on the operations and financial performance of the Debtors including, but not limited to, an increased risk or inability to meet forecasts and the incurrence of higher reorganization expenses. A full-text copy of the Disclosure Statement dated October 4, 2025 is available at https://urlcurt.com/u?l=zPkzoP from Verita Global, claims agent. Proposed Counsel for the Debtors: Timothy A. ("Tad") Davidson II, Esq. Catherine A. Rankin, Esq. Brandon Bell, Esq. HUNTON ANDREWS KURTH LLP 600 Travis Street, Suite 4200 Houston, TX 77002 Tel: (713) 220-4200 Email: taddavidson@hunton.com catherinerankin@hunton.com bbell@hunton.com AND Ray C. Schrock, Esq. Keith A. Simon, Esq. George Klidonas, Esq. Jonathan J. Weichselbaum, Esq. LATHAM & WATKINS LLP 1271 Avenue of the Americas New York, NY 10020 Tel: (212) 906-1200 Email: ray.schrock@lw.com keith.simon@lw.com george.klidonas@lw.com jon.weichselbaum@lw.com About ModivCare ModivCare Inc. is a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions for public and private payors and their members. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90309) on August 20, 2025. In the petition signed by Chad J. Shandler, chief transformation officer, the Debtor disclosed up to $10 billion in both assets and liabilities. Judge Alfredo R. Perez oversees the case. Timothy A. Davidson II, Esq., at Hunton Andrews Kurth LLP, represents the Debtor as legal counsel. MOH EXPRESS: Natasha Songonuga Named Subchapter V Trustee --------------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Natasha Songonuga, Esq., at VTrustee, LLC as Subchapter V trustee for MOH Express, LLC. Ms. Songonuga will be paid an hourly fee of $450 for her services as Subchapter V trustee and will receive reimbursement for work related expenses incurred. Ms. Songonuga declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Natasha Songonuga, Esq. VTrustee LLC PO Box 841 Wilmington, DE 19899 Email: Nsongonuga@VTrusteellc.com About MOH Express LLC MOH Express, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-20186) on September 29, 2025, with up to $50,000 in assets and $100,001 to $500,000 in liabilities. Judge Mark Edward Hall presides over the case. Jenee K. Ciccarelli, Esq., at Wenarsky and Goldstein, LLC represents the Debtor as legal counsel. MUNDO EDITORIAL: Hires HDC Tax Services as Financial Consultant --------------------------------------------------------------- Mundo Editorial Inc. seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to employ HDC Tax Services Inc. as financial consultant. The firm will render these services: (a) strategic counseling and advice; (b) pro forma modeling preparation; (c) financial/business assistance; (d) preparation of documentation as requested for and during the Debtor's Chapter 11 case, specifically as it is related to and has an effect on it; and (e) financial/business assessments regarding issues specifically related to the Debtor. Hector Martinez, an accountant at HDC Tax Services, will be billed at his hourly rate of $400. Mr. Martinez 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: Hector L. Martinez HDC Tax Services Inc. 16 Principal Coco Viejo Salinas, PR Telephone: (787) 537-7133 Email: hdctaxservices@gmail.com About Mundo Editorial Mundo Editorial Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.P.R. Case No. 25-03916) on August 29, 2025, listing $100,001 to $500,000 in both assets and liabilities. The Debtor tapped Jesus E. Batista Sanchez, Esq., at The Batista Law Group, PSC as counsel and Hector L. Martinez at HDC Tax Services Inc. as financial consultant. MYELLA INC: Gets Extension to Access Cash Collateral ---------------------------------------------------- The U.S. Bankruptcy Court, Eastern District of New York issued a second interim order authorizing Myella, Inc. to continue using cash collateral. The court authorized the Debtor to use the cash collateral of Favo Funding, LLC for ordinary course business expenses in accordance with an approved operating Budget, subject to ongoing monthly updates provided to the secured creditor. As adequate protection, Favo was granted valid and perfected post-petition replacement liens on all assets of the Debtor (pre- and post-petition), senior to all other liens except for pre-existing liens on vehicles and equipment. These liens were automatically perfected as of the filing date and hold senior priority over other claims, except for the carveout that includes avoidance actions and certain professional fees. If any event of default occurs such as unauthorized spending or conversion of the case to Chapter 7, the Debtor's authority to use cash collateral terminates automatically after a five-business-day cure period. The order preserves the rights of all parties to challenge Favo's claims and liens within the court's specified framework. The court's order remains binding and effective through plan confirmation or any future conversion or dismissal of the Debtor's Chapter 11 case. A final hearing is scheduled for November 5. About Myella Inc. Myella, Inc. operates a full-service restaurant in Roslyn Heights, New York. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.Y. Case No. 25-73404) on February 9, 2025. In the petition signed by Brian J. Kauffman, Esq., owner, president, the Debtor disclosed up to $50,000 in assets and up to $500 million in liabilities. Judge Alan S. Trust oversees the case. Adam P. Wofse, Esq., at LaMonica Herbst & Maniscalco, LLP, represents the Debtor as legal counsel. MYFOREXFUNDS: Ontario Court Scales Back Receivership Orders ----------------------------------------------------------- More than two years after MyForexFunds was shut down following proceedings brought by the U.S. Commodity Futures Trading Commission (CFTC), the company has taken initial steps to rebuild communications with its global community after favorable court rulings in the U.S. and Ontario. In May 2025, a U.S. federal judge found that the CFTC included misleading statements in its filings, dismissed the CFTC's case and awarded MyForexFunds attorney's fees. "We have always maintained our innocence, and this decision is a complete vindication for MyForexFunds in the United States," said Murtuza Kazmi, CEO of MyForexFunds. "To our tremendous community, thank you for standing with us. Your belief in MyForexFunds was a great source of strength during this tumultuous time." Following the U.S. ruling, an Ontario court over the past month issued an endorsement that significantly scaled back the receivership and retained only a limited portion of funds in escrow. The court directed the return of the remaining business assets to MyForexFunds. Before the forced shutdown, MyForexFunds grew from an Ontario, Canada start-up to the world's largest proprietary trading firm, serving traders in more than 80 countries and supported by a global team of 150 staff members. Throughout its growth, MyForexFunds maintained a strong record of customer satisfaction, showcasing Canadian fintech innovation on the global stage. MyForexFunds is in the process of unwinding the receivership and conducting a full financial and operational review with counsel and advisors. The company will make further material announcements after this review is complete. About MyForexFunds MyForexFunds (MFF), founded in 2020 and headquartered in Vaughan, Ontario, Canada, is a proprietary trading firm that provides capital and infrastructure for retail traders worldwide. The company partners with traders in over 80 countries. MYSTICAL STARS: Files Amendment to Disclosure Statement ------------------------------------------------------- The Official Committee of Unsecured Creditors and Farmers and Merchants Bank ("F&M") submitted a First Amended Disclosure Statement describing Joint Chapter 11 Plan for Mystical Stars, LLC f/k/a Arya International Inc. and Rupal K. Patel dated October 7, 2025. On June 17, 2025, the Plan Proponents participated in mediation before the Honorable Mark E. Hall, U.S.B.J. in order to come to a global resolution of the Debtors' cases. At that time, the mediation was unsuccessful, but the Plan Proponents continued to have discussions in order to resolve various issues, including, but not limited to, (i) the Committee's Disclosure Statement and Plan; (ii) the Committee's Motion for Turnover and Accounting of Post-Petition Payments (the "Turnover Motion"); and (iii) F&M Bank's Cross-Motion for an Order Authorizing the Debtor's Prior and Continuing Mortgage Payments (the "Mortgage Payment Motion"). Since the mediation, representatives of F&M Bank, members of the Committee, and counsel for both have participated in four or five conference calls to resolve issues. Pursuant to appraisals completed by F&M Bank, the Plan Proponents believe that the value of the F&M Secured Properties total $18,435,000. The Debtors disagree6 with the appraisal for 1571 Route 46 East, Parsippany, NJ. The Debtor obtained an Appraisal Report from OtteauGroup dated January 28, 2021 for the property which gave an "As-Is" Value of $6,500,000 for the property and an "As Complete" value of $7,800,000. Similarly, the Debtors obtained a second appraisal for market rental prices from Appraisal Group International dated May 4, 2021, which gave an estimated net rental of $24.50 to $25.00 per square foot. The Plan Proponents do not represent or warrant any valuations of the Debtors' assets. As a result, the Plan Proponents believe that the Joint Plan will provide for sufficient funds to pay the F&M Allowed Claim, other secured and priority claims (including administrative fees) and make a distribution to unsecured creditors. The Amended Disclosure Statement does not alter the proposed treatment for unsecured creditors and the equity holder: * Class 8A consists of General Unsecured Claims against Mystical Stars. Allowed Class 8A Claims shall be paid their pro rata portion of the funds attributable to the sale of Mystical Stars' assets in the Liquidating Trust after payment of all other valid senior debt that has priority. Total amount of claims = (this amount is still being determined in light of the fact that certain claims are subject to objection and reclassification, but are anticipated at approximately $13,867,282.40). This Class is impaired. * Class 18B consists of General Unsecured Claims against R. Patel. Allowed Class 18B Claims shall be paid their pro rata portion of the funds attributable to the sale of R. Patel's assets in the Liquidating Trust after payment of all other valid senior debt that has priority. Total amount of claims = (this amount is still being determined in light of the fact that certain claims are subject to objection and reclassification, but are anticipated at approximately $14,869,787.50). This Class is impaired. * All equity interests in Mystical Stars will be extinguished on the Effective Date and assets transferred to the Liquidating Trust. R. Patel is an individual and, thus, has no equity interests. The Plan is a liquidating plan. All assets of each Debtor will be transferred to the Liquidating Trust on the Effective Date. The Liquidating Trustee will liquidate all assets and pursue all Causes of Action. The Liquidating Trustee, in consultation with the Liquidating Trust Oversight Committee, may abandon any properties transferred to the Liquidating Trust. The Liquidating Trust shall file with the Court a notice of abandonment of such property. On the Effective Date, each Debtor shall transfer the Liquidation Trust Assets to the Liquidation Trust. Notwithstanding any prohibition on assignability under applicable nonbankruptcy law, on the Effective Date, the Debtors shall be deemed to have automatically transferred to the Liquidation Trust all of their right, title, and interest in and to all of the Liquidation Trust Assets, and in accordance with section 1141 of the Bankruptcy Code. All such assets shall automatically vest in the Liquidation Trust with the Liens and Claims attached in the same priority as existed against the respective Debtor on the Petition Date. A full-text copy of the First Amended Disclosure Statement dated October 7, 2025 is available at https://urlcurt.com/u?l=c2MNqk from PacerMonitor.com at no charge. Counsel to the Official Committee of Unsecured Creditors: TRENK ISABEL SIDDIQI & SHAHDANIAN P.C. Richard D. Trenk, Esq Robert S. Roglieri, Esq. 290 W. Mt. Pleasant Ave., Suite 2370 Livingston, New Jersey 07039 Telephone: (973) 533-1000 Email: rtrenk@tisslaw.com Email: rroglieri@tisslaw.com Counsel for Farmers & Merchants Bank: DE COTIIS FITZPATRICK COLE & GIBLIN LLP John A. Stone, Esq. 61 South Paramus Road, Suite 250 Paramus, New Jersey 07652 Tel: 201-928-1100 Fax: 201-928-0588 Email: jstone@decotiislaw.com About Mystical Stars Mystical Stars, LLC, f/k/a Arya International, Inc., is a dance academy that teaches Indian dance styles throughout the country. The Debtor filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 24-18290) on August 21, 2024, listing $1,000,001 to $10 million in assets and $10,000,001 to $50 million in liabilities. Anthony Sodono, III, Esq, at Mcmanimon, Scotland & Baumann, LLC represents the Debtor as counsel. NEED SPACE TABB: Voluntary Chapter 11 Case Summary -------------------------------------------------- Debtor: Need Space Tabb, LLC 101 Tabb Drive Munford TN 38058 Business Description: Need Space Tabb, LLC operates a self-storage facility at 101 Tabb Drive, Munford, Tennessee, providing various storage units and vehicle parking spaces. The Company is structured as a single-asset real estate entity (SARE) and is part of the broader Need Space self-storage network, which operates multiple locations across Tennessee and Mississippi. Chapter 11 Petition Date: October 10, 2025 Court: United States Bankruptcy Court Western District of Tennessee Case No.: 25-25205 Judge: Hon. M Ruthie Hagan Debtor's Counsel: Marcus D. Ward, Esq. MARCUS D. WARD, PLLC 3385 Airways Blvd., Suite #229 Memphis TN 38116 Tel: (901) 661-1811 Email: MDWard@mdwpllc.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Marion Threatt as member. A list of the Debtor's 20 largest unsecured creditors was not provided alongside the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/F3CYEII/Need_Space_Tabb__tnwbke-25-25205__0001.0.pdf?mcid=tGE4TAMA NEUROONE MEDICAL: Expects Total Product Revenue of $9.1M in FY2025 ------------------------------------------------------------------ NeuroOne Medical Technologies Corporation announced preliminary unaudited product revenue for the fiscal year ended September 30, 2025. The Company expects total product revenue in fiscal year 2025 to increase to a record $9.1 million, compared to $3.5 million in fiscal 2024. Additionally, as of September 30, 2025, the Company had preliminary cash and cash equivalents of $6.6 million. "Our 2025 revenue growth was driven by expanded customer interest and positive outcomes with the OneRF(R) Ablation system for patients suffering with seizures associated with epilepsy," says Dave Rosa, Chief Executive Officer of NeuroOne. "We believe we are well positioned to expand use of the OneRF technology platform." Complete financial results for the quarter are expected to be announced in December 2025. The selected unaudited results in this press release are preliminary and subject to the completion of accounting and interim review procedures and are therefore subject to adjustment. This preliminary financial information is the responsibility of management and has been prepared in good faith on a consistent basis with prior periods. As a result, prospective investors should exercise caution in relying on this information and should not draw any inferences from this information regarding the Company's financial information that is not provided. This preliminary financial information should not be viewed as a substitute for full financial statements prepared in accordance with United States generally accepted accounting principles. About NeuroOne Medical Technologies Headquartered in Eden Prairie, Minnesota, NeuroOne Medical Technologies Corporation -- nmtc1.com -- is a medical technology company focused on (i) diagnostic, ablation and deep brain stimulation technology for brain related conditions such as epilepsy and Parkinson's disease; (ii) ablation and stimulation for pain management throughout the body; and (iii) drug delivery including diagnostic and stimulation capabilities. The Company is developing and commercializing thin film electrode technology for continuous electroencephalogram ("cEEG") and stereoelectrocencephalography ("sEEG"), spinal cord stimulation, brain stimulation, drug delivery and ablation solutions for patients suffering from epilepsy, Parkinson's disease, dystonia, essential tremors, chronic pain due to failed back surgeries and other pain-related neurological disorders. The Company is also developing the capability to use its sEEG electrode technology to deliver drugs or gene therapy while being able to record brain activity before, during, and after delivery. Additionally, the Company is investigating the potential applications of its technology associated with artificial intelligence. Minneapolis, Minnesota-based Baker Tilly US, LLP, the Company's auditor since 2021, issued a "going concern" qualification in its report dated Dec. 17, 2024, citing that the Company had recurring losses from operations and an accumulated deficit, expects to incur losses for the foreseeable future, and requires additional working capital. These are the reasons that raise substantial doubt about the Company's ability to continue as a going concern. As of Dec. 31, 2024, NeuroOne had $6.49 million in total assets, $3.56 million in total liabilities, and $2.94 million in total stockholders' equity. NIBA DESIGNS: Court Extends Cash Collateral Access to Oct. 22 ------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Florida, Fort Lauderdale Division, entered a second interim order allowing Niba Designs, Inc. to continue using cash collateral through October 22. The Debtor was authorized to use cash collateral in the ordinary course per the budget, subject to a 10% variance per line item. As adequate protection, secured creditors will be granted replacement liens mirroring the extent and priority of their pre-bankruptcy liens under 11 U.S.C. Section 361(2). The second interim order provides a carveout for U.S. Trustee fees under 28 U.S.C. Section 1930, requires $1,000 monthly escrow payments to Subchapter V Trustee Tarek Kiem, and preserves all parties' rights to seek modifications or additional relief. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/8sNhR from PacerMonitor.com. A final hearing is scheduled for October 22. The Debtor has identified the U.S. Small Business Administration and Funding Circle as potential secured creditors. As of the petition date, the Debtor's total assets were valued at $157,575, while the SBA loan balance was $2 million, indicating that the SBA's lien potentially encompasses the entire value of the Debtor's estate. Because all of its assets are already encumbered by the SBA lien, the Debtor asserts that Funding Circle is wholly unsecured and not entitled to a post-petition lien, as there is no unencumbered collateral remaining. About NIBA Designs Inc. NIBA Designs Inc. designs and manufactures custom luxury rugs for interior designers and architects, offering fully bespoke pieces handmade by artisans in India, Nepal, and Peru. The Company provides thousands of customizable rug designs in various styles and offers consultation services including custom renderings, color consulting, and product sampling for residential and commercial projects. Based in the United States, NIBA Designs works exclusively with Good Weave-certified factories and is recognized in the design community for its craftsmanship, originality, and socially responsible production practices. NIBA Designs sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-19316) on August 13, 2025. In its petition, the Debtor reported total assets of $157,574 and total liabilities of $2,728,104. Honorable Bankruptcy Judge Scott M. Grossman handles the case. The Debtor is represented by Chad Van Horn, Esq., at Van Horn Law Group, P.A. NOISA INC: Seeks Subchapter V Bankruptcy in Pennsylvania -------------------------------------------------------- On October 6, 2025, Noisa, Inc. filed Chapter 11 protection in the Western District of Pennsylvania. According to court filing, the Debtor reports between $500,000 and $1 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Noisa, Inc. Noisa, Inc., doing business as Las Velas Mexican Restaurant, operates a full-service Mexican dining establishment offering a range of traditional dishes and catering services in Pennsylvania. Isano, Inc., doing business as Madero Cantina Murrysville, runs a Mexican restaurant in Murrysville featuring tacos, burritos, enchiladas, and other regional fare. Isano 3, Inc., doing business as La Cantina by Madero, manages a restaurant concept that combines Mexican staples with American casual items such as wings and burgers, operating as part of the same broader restaurant group in the state. Noisa, Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Pa. Lead Case No. 25-22682) on October 6, 2025. In its petition, the Debtor reports estimated assets between $100,000 and $500,000 and estimated liabilities between $500,000 and $1 million. Honorable Bankruptcy Judge Carlota M. Bohm handles the case. The Debtor is represented by David Z. Valencik, Esq. OBJECT & SUBJECT: Gets Final OK to Use Cash Collateral ------------------------------------------------------ The U.S. Bankruptcy Court for the District of Utah entered a final order granting Object & Subject, LLC approval to use cash collateral. The Debtor was authorized to use cash collateral through December 13 in accordance with its budget, with up to a 10% variance per line item and the ability to carry forward savings between periods. The bankruptcy court recognized that several entities, including Decathlon Alpha V, L.P., Cache Valley Bank, and Clear Finance Technology Corporation, claim interests in the cash collateral. In case of any diminution in the value of their collateral, the secured creditors will be granted replacement liens on and security interests in post-petition assets, subject to any senior liens in the same order of priority as existed on the petition date. Decathlon and Cache Valley Bank consented to the Debtor's use of their cash collateral subject to the final order's terms. Both reserve the right to withdraw consent and may seek to terminate the Debtor's authority upon doing so. A copy of the court order and the Debtor's budget is available at https://shorturl.at/N3R4b from PacerMonitor.com. About Object & Subject LLC Object & Subject LLC, doing business as Ascendant Brands, manages consumer product businesses across the U.S., focusing on brand development, product design, packaging, and supply chain operations. The Company specializes in online marketing, particularly on the Amazon marketplace, and works with brand partners and brick-and-mortar retailers to distribute their products. Ascendant Brands partners with businesses generating $500,000 to $5 million in annual revenue, offering acquisition, operational management, or investment collaboration opportunities. Object & Subject LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Case No. 25-25418) on September 12, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Peggy Hunt handles the case. The Debtor is represented by George B. Hofmann, Esq., at Cohne Kinghorn, P.C. OLD SCHOOL: Unsecureds Will Get 80% to 90% of Claims in Plan ------------------------------------------------------------ Old School, Inc., submitted an Amended Combined Disclosure Statement and Plan of Liquidation dated October 6, 2025. Following the Sale of the Purchased Assets to the Purchaser, the Debtor's business is no longer operating. However, as of the Petition Date, the Debtor provided development, financing, and other services to support the charter school industry. The Debtor was founded in 2006, and over the course of its 19-year history, the Debtor has provided financing to approximately 1,000 of the approximately 8,000 charter schools in the United States, supporting more than 2 million kids' education, and deploying over $3 billion in capital. Since the Closing of the Sale, the Debtor has focused on efficiently winding down its business, preserving Cash, and monetizing its remaining Assets. The Debtor's remaining Assets (which, upon the Effective Date, shall constitute the Plan Administration Assets) currently consist of (i) Remaining Cash, (ii) after payment of Allowed Professional Fees Claims, Cash in the Professional Fee Reserve (if any), (iii) after payment of Allowed Professional Fee Claims, any retainers, deposits, or similar instruments or agreements held by the Debtor's Professionals, (iv) the Excluded Assets, (v) the Retained Causes of Action, (vi) any outstanding New Purchased Receivables (if any), and (vii) any and all other Assets of the Debtor other than Purchased Assets. This Combined Disclosure Statement and Plan provides for the Plan Administration Assets, to the extent not already liquidated, to be liquidated over time and the proceeds thereof to be distributed to holders of Allowed Claims in accordance with the terms of the Combined Disclosure Statement and Plan and the treatment of Allowed Claims and Allowed Interests described more fully herein. The Plan Administrator will effect such liquidation and distributions. Class 3 consists of General Unsecured Claims. Each Holder of an Allowed General Unsecured Claim shall receive, from the Plan Administration Assets, in full and final satisfaction and settlement of and in exchange for such Allowed General Unsecured Claim: (i) a pro rata Distribution of Cash on account of such Allowed General Unsecured Claim; or (ii) such other treatment which the Debtor or the Plan Administrator, as applicable, and the Holder of such Allowed General Unsecured Claim have agreed upon in writing. The allowed unsecured claims total $8,718,529. This Class will receive a distribution of 80% to 90% of their allowed claims. This Class is impaired. Class 4 consists of Preferred Equity Interests. Following payment in full (if at all) of all Allowed General Unsecured Claims, except to the extent that a Holder of an Allowed Preferred Equity Interest agrees to less favorable treatment, in exchange for full and final satisfaction and settlement of each Allowed Preferred Equity Interest, each Holder of such Allowed Preferred Equity Interest shall receive, from the Plan Administration Assets: (i) a pro rata Distribution of Cash on account of such Allowed Preferred Equity Interest; or (ii) such other treatment which the Debtor or the Plan Administrator, as applicable, and the Holder of such Allowed Preferred Equity Interest have agreed upon in writing. The Combined Disclosure Statement and Plan will be implemented by, among other things, (i) the appointment of the Plan Administrator as the sole officer and director of the Post-Effective Date Debtor as of the Effective Date and (ii) the making of Distributions to Holders of Allowed Claims from the Plan Administration Assets. A full-text copy of the Amended Combined Disclosure Statement and Plan dated October 6, 2025 is available at https://urlcurt.com/u?l=cAnLfl from PacerMonitor.com at no charge. Counsel for the Debtor: POTTER ANDERSON & CORROON LLP Aaron H. Stulman, Esq. Brett M. Haywood, Esq. James R. Risener III, Esq. Ethan H. Sulik, Esq. 1313 North Market Street, 6th Floor Wilmington, Delaware 19801 Tel: (302) 984-6000 Facsimile: (302) 658-1192 Email: astulman@potteranderson.com bhaywood@potteranderson.com jrisener@potteranderson.com esulik@potteranderson.com GOODWIN PROCTER LLP Howard S. Steel, Esq. Stacy Dasaro, Esq. Kizzy L. Jarashow, Esq. James Lathrop, Esq. The New York Times Building 620 Eighth Avenue New York, New York 10018-1405 Tel: (212) 813-8800 Facsimile: (212) 355-3333 Email: hsteel@goodwinlaw.com sdasaro@goodwinlaw.com kjarashow@goodwinlaw.com jlathrop@goodwinlaw.com About Old School Inc. Old School, Inc., is a non-public corporation incorporated in Delaware. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11016) on June 8, 2025, with $10,000,001 to $50 million in assets and liabilities. Judge Craig T. Goldblatt presides over the case. James R. Risener, III, at Potter Anderson & Corroon LLP, is the Debtor's legal counsel. OLIVER PARK: Gets Interim OK to Use Cash Collateral Until Oct. 22 ----------------------------------------------------------------- Oliver Park Apartments, LLC received interim approval from the U.S. Bankruptcy Court for the Northern District of Georgia, Atlanta Division, to use cash collateral to fund operations. The court's interim order issued on October 15 authorized the Debtor to use the cash collateral of its lenders from October 14 to 22. This interim period may be extended by further order of the court. As adequate protection for the Debtor's use of their cash collateral, U.S. Bank, N.A. and the U.S. Small Business Administration will be granted a replacement lien on all property acquired by the Debtor after its Chapter filing that is similar to the lenders' pre-bankruptcy collateral. A copy of the interim order is available at https://is.gd/ZqQEuI from PacerMonitor.com. The final hearing is set for October 22. Oliver Park Apartments filed for Chapter 11 bankruptcy aiming to preserve equity in the property and reorganize its debts after experiencing severe financial hardship, including significant repair costs due to a major water leak that damaged half the units. Although all units are currently move-in ready, only six are occupied, and just three tenants are actively paying rent. The complex is managed by OC Management, LLC, a company owned by the Debtor's sole member, Olivia Chevannes, who, along with her husband, is personally funding essential expenses due to the Debtor's limited rental income. The Debtor refinanced the property in March 2021, resulting in a loan now held by U.S. Bank, as trustee for holders of a JPMorgan mortgage-backed security. U.S. Bank claims a lien on rental income through an Assignment of Rents, while the SBA asserts a lien on cash under a UCC-1 financing statement. The outstanding debt is approximately $1.42 million to U.S. Bank and $21,000 to the SBA. The Debtor acknowledges that these lenders likely hold a secured interest in the rental revenue, qualifying it as "cash collateral" under 11 U.S.C. section 363. U.S. Bank N.A. is represented by: Colin M. Bernardino, Esq. Kilpatrick Townsend & Stockton LLP 1100 Peachtree Street, NE, Suite 2800 Atlanta, GA 30309-4530 Telephone: (404) 815-6500 Facsimile: (404) 815-6555 cbernardino@ktslaw.com About Oliver Park Apartments LLC Oliver Park Apartments, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-60028) on September 1, 2025, listing up to $50,000 in assets and $1,000,001 to $10 million in liabilities. Judge Sage M. Sigler oversees the case. William A. Rountree, Esq. at Rountree Leitman Klein & Geer, LLC represents the Debtor as counsel. PARENT SUPPORT: Seeks to Tap Indeglia & Associates as Counsel ------------------------------------------------------------- Parent Support Network of Rhode Island seeks approval from the U.S. Bankruptcy Court for the District of Rhode Island to employ Indeglia & Associates to handle its Chapter 11 case. Vincent Indeglia, Esq., the primary attorney in this representation, will be paid at his hourly rate of $400. The firm received an initial retainer of $20,000 from the Debtor. Mr. Indeglia 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: Vincent A. Indeglia, Esq. Indeglia & Associates 931 Jefferson Boulevard, Suite 1006 Warwick, RI 02886 Telephone: (401) 886-9240 Facsimile: (401) 886-9241 Email: Vincent@indeglialaw.com About Parent Support Network of Rhode Island Parent Support Network of Rhode Island, Inc. is a nonprofit organization that provides free peer-based support, education, and advocacy services for parents and families in Rhode Island. It offers family peer support to those navigating mental health and substance use challenges, child welfare involvement, and the juvenile justice system, with services including parenting education, fatherhood support, family groups, and one-on-one assistance from trained Family Support Partners. The organization has been supporting families statewide for more than 30 years through a helpline, group programs, and community-based services. Parent sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. RI Case No. 25-10775) on September 25, 2025, listing $90,680 in assets and $1,250,945 in liabilities. Lisa A. Conlan, executive director, signed the petition. Judge John A. Dorsey Jr. oversees the case. The Debtor tapped Indeglia & Associates as counsel. PARTY CITY: Court OKs $6MM for AlixPartners' Ch. 11 Advisory Role ----------------------------------------------------------------- Vince Sullivan of Law360 Bankruptcy Authority reports that on October 15, 2025, a Texas bankruptcy judge has approved nearly $6.4 million in fees and expenses for consulting firm AlixPartners for its work as restructuring advisor to bankrupt retailer Party City. The court found that the professional services provided were essential to the company's Chapter 11 restructuring efforts, according to the report. The approved compensation covers AlixPartners' advisory work on debt restructuring, financial planning, and operational strategy during the case. The ruling clears one of the final administrative hurdles in Party City's bankruptcy proceedings. About Party City Holdco Party City Holdco Inc. (NYSE: PRTY) is the global leader in the celebrations' industry, with its offerings spanning more than 70 countries around the world. It is also the largest designer, manufacturer, distributor, and retailer of party goods in North America. Party City Holdco had 761 company-owned stores as of September 2022. It is headquartered in Woodcliff Lake, N.J. with additional locations throughout the Americas and Asia. Party City Holdco and its domestic subsidiaries sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 23-90005). As of Sept. 30, 2022, Party City Holdco had total assets of $2,869,248,000 against total debt of $3,022,960,000. Judge David R. Jones oversees the cases. The Debtors tapped Paul, Weiss, Rifkind, Wharton & Garrison, LLP, as legal counsel; Moelis & Company, LLC as investment banker; AlixPartners, LLP as financial advisor; A&G Realty Partners as real estate advisor; and Kroll as the claims agent. PricewaterhouseCoopers LLP (PwC) provides accounting and valuation advisory services, tax-related services, and internal audit Sarbanes-Oxley Act support services. Davis Polk & Wardwell, LLP and Lazard serve as legal counsel and investment banker, respectively, to the ad hoc group of first lien holders. The U.S. Trustee for Region 6 appointed an official committee to represent unsecured creditors in the Chapter 11 cases. The committee is represented by Pachulski Stang Ziehl & Jones, LLP. PERASO INC: Reports 7.58M Outstanding Common Shares as of Oct. 3 ---------------------------------------------------------------- Peraso Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission an update on its outstanding securities. As of October 3, 2025, there were 7,579,223 shares of common stock, par value $0.001 per share, outstanding and one share of Series A special voting preferred stock outstanding. In addition, as of October 3, 2025, there were: * 837,380 shares of Common Stock being held in abeyance for the benefit of a former holder of exercised warrants that were subject to beneficial ownership limitations; * 57,085 shares of Common Stock issuable upon the exchange of exchangeable shares; * 1,333,794 shares of Common Stock issuable upon the exercise of outstanding stock options, which options have a weighted average exercise price of $3.38 per share; * 2,809 shares of Common Stock issuable upon the vesting of restricted stock units; * 213,438 shares of Common Stock available for future issuance under the Company's Amended and Restated 2019 Stock Incentive Plan; * 7,143 shares of Common Stock issuable upon exercise of warrants dated June 2, 2023, at $28.00 per share; * 142,857 shares of Common Stock issuable upon exercise of placement agent warrants dated June 2, 2023, at $28.00 per share; * 91,875 shares of Common Stock issuable upon exercise of warrants dated November 30, 2022, at $40.00 per share; * 3,974,520 shares of Common Stock issuable upon exercise of Series A warrants dated February 8, 2024, at $2.25 per share; * 139,108 shares of Common Stock issuable upon exercise of underwriter warrants dated February 8, 2024, at $2.625 per share; * 1,293,650 shares of Common Stock issuable upon exercise of Series C Warrants dated November 6, 2024, at $1.61 per share; * 2,246,030 shares of Common Stock issuable upon exercise of Series D Warrants dated November 6, 2024, at $1.61 per share; * 157,223 shares of Common Stock issuable upon exercise of placement agent warrants dated November 6, 2024, at $1.625 per share; * 952,380 shares of Common Stock issuable upon exercise of Series E Warrants dated September 12, 2025, at $1.25 per share; and * 66,667 shares of Common Stock issuable upon exercise of Placement Agent Warrants dated September 12, 2025, at $1.475 per share. About Peraso Inc. Headquartered in San Jose, California, Peraso Inc. -- www.perasoinc.com -- is a pioneer in high-performance 60 GHz unlicensed and 5G mmWave wireless technology, offering chipsets, antenna modules, software and IP. Peraso supports a variety of applications, including fixed wireless access, immersive video and factory automation. In addition, Peraso's solutions for data and telecom networks focus on Accelerating Data Intelligence and Multi-Access Edge Computing, providing end-to-end solutions from the edge to the centralized core and into the cloud. In its report dated March 28, 2025, the Company's auditor, Weinberg & Company, issued a "going concern" qualification, attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, citing that during the year ended Dec. 31, 2024, the Company incurred a net loss and utilized cash in operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. As of June 30, 2025, the Company had $5.53 million in total assets against $3.74 million in total liabilities, and $2.99 million in total stockholders' equity. PERFORMANCE MOBILE: Amends Several Secured Claims Pay ----------------------------------------------------- Performance Mobile Care, LLC, submitted an Amended Plan of Reorganization dated October 6, 2025. Since filing for Chapter 11 relief, the Debtor has stabilized operations and, importantly, retained a new accountant, Mark Dennis of SLBiggs, who has completely revamped the Debtor's accounting practices and corrected relevant prepetition financials. This necessarily included cessation of the practice of making personal expenditures from Debtor's business assets. Ultimately, for the five-year total, Debtor projects total $178,376.00 net cash flow over five years which can be paid to creditors under the "disposable income" requirement of the Code, which includes accumulation of a working capital reserve of $50,000.00, which is reasonable for a business of this nature. Class 2 consists of Allowed Secured Claims of Ally. Paid in full within five years from the Effective Date of the Plan, with monthly payments amortized at 5.98% interest over 10 years, which represents the remaining useful life of the Class 2 Creditor's collateral, and a balloon payment of the remaining balance due 5 years (60 months) from the Effective Date. The Class 2 Creditor shall retain its lien on the Debtor's 2021 Jeep Wrangler until payment in full. Regular payments shall begin on the month following the date the Confirmation Order enters. Payments shall be $568.00 monthly. Class 3 consists of Allowed Secured Claim of Affidian Credit Union. Will be paid prior to the Effective Date of the Plan in accordance with existing loan terms. The Class 3 Creditor shall retain its lien on the Debtor's 2018 Ford F450 until payment in full. Regular payments shall continue to be $846.00 monthly, and it is anticipated that payment in full will be made in September 2025, prior to the Effective Date. Like in the prior iteration of the Plan, the Class 4 Allowed Unsecured Creditors shall each be paid their pro rata share of the Plan Payment Fund. Class 6 shall include the Disputed Claim of Mulligan Funding. To the extent that Class 6 claims are Allowed Claims, the Class 6 creditors shall each be paid their pro rata share of the Plan Payment Fund along with the Class 4 Allowed Claims. The Debtor's Plan is feasible because the Plan shall be funded following Confirmation in accordance with the projections, but in no event later than 30 days following the Effective Date for Class 1, 2 and 3 Secured Claims, with those payments being made from the Debtor's income from ongoing operations. The Plan Payment Fund for Class 4 and Class 6 creditors shall be funded annually following the Effective Date for Class 4 once the Debtor's accumulated working capital reserve of $50,000.00 is funded to ensure ongoing operations of the Debtor's business. Based on the Debtor's projections, it expects that annual payments will begin in 2027, through the term of the Plan. A full-text copy of the Amended Plan dated October 6, 2025 is available at https://urlcurt.com/u?l=Q4Ox70 from PacerMonitor.com at no charge. Counsel to the Debtor: Jeffrey A. Weinman, Esq. Bailey C. Pompea, Esq. Allen Vellone Wolf Helfrich & Factor P.C. 1600 Stout Street, Suite 1900 Denver, CO 80202 Tel: (303) 534-4499 Email: JWeinman@allen-vellone.com BPompea@allen-vellone.com About Performance Mobile Care, LLC Performance Mobile Care, LLC is a vehicle detailing company specializing in providing mobile detailing services for trucks. Performance Mobile Care LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Col. Case No. 25-11281) on March 13, 2025. In its petition, the Debtor reported assets between $100,000 and $500,000 and liabilities between $1 million and $10 million. Judge Kimberley H. Tyson handles the case. The Debtor is represented by Jeffrey A. Weinman, Esq., at Allen Vellone Wolf Helfrich & Factor P.C. PG&E CORP: Court Tosses Abrams Wildfire Adversary Proceeding ------------------------------------------------------------ Judge Dennis Montali of the United States Bankruptcy Court for the Northern District of California granted PG&E Corporation's motion to dismiss the the adversary proceeding captioned as WILLIAM B. ABRAMS, Plaintiff, v. PG&E CORPORATION; PACIFIC GAS AND ELECTRIC COMPANY, Defendants, Adversary Proceeding No. 25-03027-DM (Bankr. N.D. Cal.). William B. Abrams, a 2017 Tubbs Fire victim, acting pro se and without an attorney, filed the adversary proceeding to unravel the Debtors' Chapter 11 Plan that created the FVT, claiming that the Plan was confirmed via a fraud on Plan voters. On June 20, 2020, the court confirmed Debtors' and Shareholder Proponents' Joint Chapter 11 Plan of Reorganization Dated June 19, 2020. The court's Confirmation Order was entered on June 20, 2020. Pursuant to the Plan, the FVT was created to administer, process, settle, resolve, liquidate, satisfy and pay the claims arising out of the Wildfires (other than claims of public entities and those based upon subrogation principles). Abrams and tens of thousands of others asserting Wildfire Claims were affected by creation of the FVT, as all their claims were channeled to the FVT for adjudication and resolution, independent of Debtors, who received broad discharges of all liabilities dealt with under the Plan pursuant to Section 1141(a). Debtors funded the FVT by channeling to it cash and securities of a value totaling approximately $13.5 billion. The Wildfire Claims were the subject of a channeling injunction that established the FVT as the sole source of recovery for the holders of those Wildfire Claims; Wildfire Claimants would have no recourse against the discharged Debtors. Those holders were permanently and forever stayed, restrained, and enjoined from taking any action for the purpose of directly or indirectly collecting, recovering, or receiving payments, satisfaction or recovery from any Debtor or Reorganized Debtor. In his initial Adversary Proceeding Complaint, filed on June 17, and his Amended Complaint filed on July 8, 2025, Abrams named as defendants Debtors, the FVT, and others associated with them. On July 21, 2025, Abrams filed a Notice of Certain Dismissal of Certain Defendants in which he dismissed all defendants other than Debtors. At a hearing on Sept. 9, 2025, the court heard oral argument on the Motion to Dismiss Adversary Proceeding filed by Debtors. In his Complaint, Abrams states that he seeks redress for a pattern of statutory, constitutional, and fiduciary breaches surrounding the procurement and following the confirmation of the Debtors' and Shareholder Proponents' Joint Chapter 11 Plan of Reorganization Dated June 19, 2020. The Plan purported to resolve fire victim claims through the creation of the Fire Victim Trust, promising timely and fair compensation. He complains that the FVT was marred by structural and financial conflicts of interest, withheld and redacted financial disclosures, improper and mismanaged liquidation of Debtors' equity, denial of individualized due process rights, and willful and fraudulent conduct by key actors before, and after during Plan Confirmation. The Counts alleged in Abrams' Complaint: 1. The first Count is Fraudulent Inducement (Common Law Fraud). 2. The second Count is for Willful Misconduct through Breach of Contract and Breach of the Implied Covenant of Good Faith and Fair Dealing. 3. The third Count is entitled Declaratory Judgement and Equitable Relief, contending that the discharge and release provisions of the Plan and Confirmation Order do not provide relief due to fraud, willful misconduct and material breach. 4. The fourth Count, Breach of Fiduciary Duty and Constructive Fraud, appears directed at the FVT, the Trust Oversight Committee, and affiliated professionals. 5. The fifth Count erroneously invokes a misunderstanding of third-party releases and confusion between them and exculpation clauses. 6. The sixth Count, Securities Violations Including Unauthorized Securitization and Misrepresentations of Claim Value, does not state any theory of liability as to Debtors or any claim by Abrams that he is the victim of any securities violations. 7. The seventh Count alleges a post confirmation material alteration of FVT structure. 8. The eighth Count alleges violations of Sections 1125(b) and 1126(e), both covering improper solicitation and conflicts in connection with a restructuring support agreement approved years and years ago and prior to Confirmation. The Court finds Abrams does not present any cognizable claim for relief and his Amended Complaint must be dismissed without leave to amend. None of the eight Counts can be salvaged, so amendment would be futile. According to Judge Montali, "The Confirmation Order and its finality, and the operation of Section 1141 are dispositive. Abrams is bound by the Plan. There is no exception to the broad discharge of Debtors under the Order Confirming Plan and Section 1141. On top of that, and even without regard to the Confirmation Order, these various representations even if fraudulent, and even if actionable, are barred by the California statute of limitations of three years for fraud. Even more to the point, there is no particularity for such a contention as required by Fed. R. Bankr. P. 9(b), incorporated by Fed. R. Civ. P. 9(b)." A copy of the Court's Memorandum Decision is available at https://urlcurt.com/u?l=MEzr79 About PG&E Corporation PG&E Corporation (NYSE: PCG) -- http://www.pgecorp.com/-- is a Fortune 200 energy-based holding company, headquartered in San Francisco. It is the parent company of Pacific Gas and Electric Company, an energy company that serves 16 million Californians across a 70,000-square-mile service area in Northern and Central California. PG&E Corporation and its regulated utility subsidiary, Pacific Gas and Electric Company, faced extraordinary challenges relating to a series of catastrophic wildfires that occurred in Northern California in 2017 and 2018. The utility faced an estimated $30 billion in potential liability damages from California's deadliest wildfires of 2017 and 2018. On Jan. 29, 2019, PG&E Corp. and its primary operating subsidiary, Pacific Gas and Electric Company, filed voluntary Chapter 11 petitions (Bankr. N.D. Cal. Lead Case No. 19-30088). As of Sept. 30, 2018, the Debtors, on a consolidated basis, had reported $71.4 billion in assets on a book value basis and $51.7 billion in liabilities on a book value basis. Weil, Gotshal & Manges LLP and Cravath, Swaine & Moore LLP served as PG&E's legal counsel, Lazard as its investment banker and AlixPartners, LLP as the restructuring advisor to PG&E. Prime Clerk LLC is the claims and noticing agent. PG&E appointed James A. Mesterharm, a managing director at AlixPartners, LLP, and an authorized representative of AP Services, LLC, to serve as Chief Restructuring Officer. In addition, PG&E appointed John Boken also a Managing Director at AlixPartners and an authorized representative of APS, to serve as Deputy Chief Restructuring Officer. Morrison & Foerster LLP served as the Debtors' special regulatory counsel. Munger Tolles & Olson LLP also served as special counsel. The Office of the U.S. Trustee appointed an official committee of creditors on Feb. 12, 2019. The Committee retained Milbank LLP as counsel; FTI Consulting, Inc., as financial advisor; Centerview Partners LLC as investment banker; and Epiq Corporate Restructuring, LLC as claims and noticing agent. On Feb. 15, 2019, the U.S. trustee appointed an official committee of tort claimants. The tort claimants' committee is represented by Baker & Hostetler LLP. * * * PG&E Corporation and Pacific Gas and Electric Co. announced July 1, 2020, that PG&E has emerged from Chapter 11, successfully completing its restructuring process and implementing PG&E's Plan of Reorganization that was confirmed by the United States Bankruptcy Court on June 20, 2020. For the benefit of fire victims, the Plan provided for a Fire Victim Trust, which was funded with an oft-stated value of $13.5 billion, to be half in cash and half in new company PG&E common stock. The $6.75 billion in cash was paid. With respect to the stock consideration, 478 million shares of PG&E stock were delivered to the Fire Victim Trust in accordance with an agreed-to formula under the Plan. PLATINUM HEIGHTS: Unsecureds Will Get 25% of Claims in Plan ----------------------------------------------------------- Platinum Heights, LP submitted a Disclosure Statement for Plan of Reorganization dated October 6, 2025. The Debtor is a limited partnership managed by its general partner, Nexus Capital Partners Real Estate Investments LLC. Nexus is managed by Dr. Mirza N. Baig. The Debtor's sole business is the management and operation of Height's Hospital a six story hospital that is leased to a variety of healthcare providers who serve as tenants. Heights Hospital is located at 1917 Ashland Street, Houston, TX, 77008 (the "Real Property"). The Debtor is the owner of Heights Hospital and the Real Property, and purchased Heights Hospital and Real Property in a court approved section 363 sale in the bankruptcy case of 1917 Heights Hospital, LLC. Founded in 2006, PAM Health is a healthcare provider that operates 70+ hospitals across the U.S. that provide post-acute care, recovery, and empowerment for various conditions. PAM Health is committed to providing high-quality patient care and outstanding customer service, coupled with loyal, dedicated, and highly trained staff to be the most trusted and impactful source for healthcare in every community it serves. The Plan Sponsor's willingness to enter into the transactions contemplated by the Plan is contingent on resolution of certain material claims against the Debtor, including the claims of CLS. On June 18, 2025, the Plan Sponsor and CLS entered into a non binding Letter of Intent ("LOI") that provides for the resolution of CLS's claims against the Debtor. The Plan Sponsor agreed to pay $4,750,000 to CLS in the event various contingencies are met, including that the Plan Sponsor is approved as the sponsor of the Plan, assumes operational control of the Hospital, and acquires an interest in Heights Healthcare, LLC. In exchange, CLS agreed that it would release its claims against the Debtor. The Plan Sponsor agreed to use commercially reasonable efforts to cause the release of claims against CLS. The Plan facilitates the agreement between the Plan Sponsor and CLS. Section 5.17 of the Plan contains releases among CLS, the Debtor, the Plan Sponsor and the NCP Parties. After the execution of the LOI, the Plan Sponsor and CLS continued to negotiate additional agreements that would support the operations of Heights Healthcare, LLC and Heights Hospital. Article IX of the Plan includes as contingencies to the effectiveness of the Plan that the Heights Health Acquisition Agreement and the CLS Lease Agreement be in full force and effect. Class 4 consists of General Unsecured Claims. On the Effective Date or as soon as reasonably practicable thereafter, except to the extent that a Holder of an Allowed General Unsecured Claim agrees to less favorable treatment of such Claim, each Holder of an Allowed General Unsecured Claim shall receive, in full and final satisfaction, compromise, settlement, release and discharge of and in exchange for such Allowed General Unsecured Claim, 25% of the Allowed General Unsecured Claim. The allowed unsecured claims total $1,734,527.65. This Class is impaired. Class 5 consists of Other General Unsecured Claims. On the Effective Date or as soon as reasonably practicable thereafter, except to the extent that a Holder of an Allowed Other General Unsecured Claim agrees to less favorable treatment of such Claim, each Holder of an Allowed Other General Unsecured Claim shall receive, in full and final satisfaction, compromise, settlement, release and discharge of and in exchange for such Allowed Other General Unsecured Claim, 25% of the Allowed Other General Unsecured Claim paid to such Holder over six equal installment commencing upon the Effective Date and payable on the fifteenth day of each following calendar month thereafter. The allowed unsecured claims total $14,071,713.90 to $15,221,713.90, if the Secured Lender rejects the Plan. All Cash necessary for the Plan Administrator to make payments required by the Plan and for post-Confirmation operations shall be obtained from (a) existing Cash held by the Debtor on the Effective Date and (b) the Plan Funding. The Plan Funding shall be used to satisfy the Debtor's obligations in the following priority in accordance with the terms of the Bankruptcy Code: (i) satisfaction of the DIP Facility Obligation unless the DIP Lender agrees otherwise, (ii) satisfaction of Allowed Administrative Expenses, (iii) satisfaction of Allowed Priority Claims, (iv) the Wind Down Funding and the funding of the Wind Down Reserve, and (v) other payments in accordance with the terms of the Plan. A full-text copy of the Disclosure Statement dated October 6, 2025 is available at https://urlcurt.com/u?l=1S5m2S from PacerMonitor.com at no charge. Platinum Heights, LP is represented by: REED SMITH LLP Omar J. Alaniz, Esq. 2850 n. Harwood Street, Suite 1500 Dallas, Texas 75201 Telephone: (469) 680-4200 Facsimile: (469) 680-4299 E-mail: oalaniz@reedsmith.com About Platinum Heights LP Platinum Heights, LP is a limited partnership managed by its general partner, Nexus Capital Partners Real Estate Investments LLC. The Debtor filed a Chapter 11 petition (Bankr. S.D. Texas Case No. 25-90012) on Feb. 20, 2025, listing between $50 million and $100 million in both assets and liabilities. Judge Alfredo R. Perez oversees the case. Omar Jesus Alaniz, Esq., at Reed Smith, LLP is the Debtor's legal counsel. B1 Bank, as secured lender, is represented by Michael P. Menton, Esq. and Danika L. Lopez, Esq. at SettlePou. POLAR POWER: Inks $2.38M ATM Sales Agreement With ThinkEquity ------------------------------------------------------------- Polar Power, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company entered into an ATM Sales Agreement with ThinkEquity LLC, pursuant to which the Company may offer and sell, from time to time through the Sales Agent, shares of the Company's common stock, par value $0.0001 per share, up to a maximum amount as set forth in the Sales Agreement, subject to the terms and conditions of the Sales Agreement. The Company will file a prospectus supplement to its registration statement on Form S-3 (File No. 333-276705) offering the Shares up to an aggregate offering price of up to $2,382,043. Under the Sales Agreement, the Sales Agent may sell the Shares in sales deemed to be an "at-the-market offering" as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended, including sales made directly on or through The Nasdaq Capital Market or any other existing trading market for the Common Stock, in negotiated transactions at market prices prevailing at the time of sale or at prices related to such prevailing market prices, and/or any other method permitted by law. The Company may instruct the Sales Agent not to sell the Shares if the sales cannot be effected at or above the price designated by the Company from time to time. The Company is not obligated to make any sales of the Shares under the Sales Agreement. The offering pursuant to the Sales Agreement will terminate upon the termination of the Sales Agreement as permitted therein. The Company may terminate the Sales Agreement in its sole discretion at any time by giving ten days' prior notice to the Sales Agent. The Sales Agent may terminate the Sales Agreement under the circumstances specified in the Sales Agreement and in its sole discretion at any time by giving 10 days' prior notice to the Company. The Company will pay the Sales Agent a fixed commission rate of 3.0% of the aggregate gross proceeds of the sales price of the Shares sold through the Sales Agent pursuant to the Sales Agreement and has agreed to provide the Sales Agent with customary indemnification and contribution rights. The Company also agreed to reimburse the Sales Agent the fees and expenses of the Sales Agent, including but not limited to the fees and expenses of the counsel to the Sales Agent, in an amount not to exceed $30,000. In addition, the Company will reimburse the Sales Agent for such fees and expenses incurred in connection with the Sales Agreement in an amount not to exceed: (I) $10,000 per fiscal year, provided, however, that at such time as the Company files an additional prospectus or prospectus supplement to increase the aggregate amount of Shares which may be sold under the Sales Agreement in excess of the amount included in the initial prospectus supplement relating to the offering of the Shares, the annual reimbursement for costs, fees and expenses shall be revised from $10,000 to an amount not to exceed $5,000 on a quarterly basis for the first three quarters of each year, $7,500 for the fourth quarter of each year, and (II) $10,000 (on up to two occasions per calendar year in connection with any filing of any additional prospectus or prospectus supplement which relates to the Shares to be issued from time to time by the Company). The foregoing description of the Sales Agreement is not complete and is qualified in its entirety by reference to the full text of such agreement is available at https://tinyurl.com/mr22m4hz About Polar Power, Inc. Headquartered in Gardena, California, Polar Power, Inc. -- http://www.polarpower.com-- designs, manufactures, and sells DC power generators, renewable energy and cooling systems for applications primarily in the telecommunications market and, to a lesser extent, in other markets, including military, electric vehicle charging, marine and industrial. The Company is continuously diversifying its customer base and are selling its products into non-telecommunication markets and applications at an increasing rate. In its report dated March 31, 2025, the Company's auditor Weinberg & Company, P.A., issued a "going concern" qualification citing that during the year ended Dec. 31, 2024, the Company incurred a net loss and incurred negative operating cash flows. These conditions raise substantial doubt about the Company's ability to continue as a going concern. As of Dec. 31, 2024, Polar Power held $17.55 million in total assets, $9.03 million in liabilities, and $8.51 million in stockholders' equity. POWIN LLC: Creditors to Get Proceeds From Liquidation ----------------------------------------------------- Powin, LLC, its affiliates and the Official Committee of Unsecured Creditors submitted a Joint Combined Disclosure Statement and Plan of Liquidation dated October 6, 2025. Prior to the Petition Date, the Debtors operated as a leading energy storage integrator at the forefront of the clean energy revolution, based in Portland, Oregon, and with offices around the world in Vietnam, China, Canada, Australia, and Spain. The Debtors commenced these Chapter 11 Cases in order to, among other things, engage in a value-maximizing sale process for their assets. On July 30, 2025, the Debtors conducted an auction of their assets after receiving three qualified bids, all as more detailed in the Notice of Winning Bidders ("Notice of Winning Bidders") filed by the Debtors on July 31, 2025. Upon the conclusion of the auction, the Debtors filed the Notice of Winning Bidders announcing the winning bidders for their assets. Pursuant to that certain bill of sale made in favor of Mainfreight Distribution Pty Ltd. by the Debtors ("Mainfreight Bill of Sale"), attached as Exhibit A to the Notice of Winning Bidders, the Debtors agreed to sell certain of its assets, described on Exhibit A to the Mainfreight Bill of Sale, constituting collateral of Mainfreight to Mainfreight via credit bid in the amount of $3,000,000.00 (the "Mainfreight Sale"). On August 8, 2025, the Bankruptcy Court entered an order approving the Mainfreight Sale. Pursuant to that certain asset purchase agreement by and between FlexGen Power Systems, LLC and the Debtors ("FlexGen APA"), attached as Exhibit B to the Notice of Winning Bidders, the Debtors agreed to sell the Purchased Assets, as defined in the FlexGen APA, to FlexGen for a purchase price of $36,000,000, comprised in FlexGen's discretion of a credit bid and cash, assumption by FlexGen of certain liabilities described in the FlexGen APA, and the Retention Fund, as defined in the FlexGen APA (the "FlexGen Sale"). On August 18, 2025, the Bankruptcy Court entered an order approving the FlexGen Sale, and the FlexGen Sale closed thereafter on August 19, 2025. In connection therewith, on August 20, 2025, the Debtors changed the name Powin, LLC to BESS RemainCo LLC. Pursuant to that certain Sale and Release Agreement by and between Hitachi Energy Ltd., Hitachi Energy Power Conversion Solutions (together with Hitachi Energy Ltd., "Hitachi"), Powin, LLC, and Powin EKS Sellco LLC (together with Powin, LLC, the "Powin Parties") ("EKS Sale Agreement"), attached as Exhibit C to the Notice of Revised Order Approving Sale of Shares in EKS Holdco LLC and Filing of Release and Sale Agreement, the Powin Parties agreed to enter into a comprehensive transaction with Hitachi, whereby Hitachi would acquire the Remaining Units, as defined in the EKS Sale Agreement, from Powin EKS Sellco LLC and receive certain releases from the Powin Parties, as described in the EKS Sale Agreement, in exchange for providing the Powin Parties with a fixed sum of $15,000,000 (the "EKS Sale"). On August 8, 2025, the Bankruptcy Court entered an order approving the EKS Sale. The Plan proposes to pay or otherwise satisfy Allowed Administrative Claims, Allowed Secured Claims, and Allowed Priority Claims in full on the Effective Date or as soon as reasonably practicable thereafter. The Plan also proposes to establish a reserve for the benefit of holders of certain WARN Act Claims. The Plan additionally establishes two trusts: (1) the Liquidating Trust for the purpose of winding down the Debtors' estates, administering Claims, prosecuting and resolving estate causes of action, and making distributions to holders of Allowed Claims, including Allowed General Unsecured Claims; and (2) the Direct Claims Trust for the purpose of receiving and monetizing the Direct Claims Trust Assets. The holders of Allowed General Unsecured Claims shall receive their pro rata interests in the Liquidating Trust. Each Contributing Direct Claim Holder shall receive, in exchange for the Direct Claims Trust Assets, its pro rata interest in the Direct Claims Trust on account of such Direct Claims. The Plan appoints the Liquidating Trustee to, among other things: (1) continue the wind-down of the Debtors after the Effective Date; (2) liquidate the Liquidating Trust Assets and the Direct Claims Trust Assets; (3) investigate, prosecute, settle, abandon or compromise any Causes of Action the Debtors hold or may hold against any Entity; and (4) make all Distributions in accordance with the Plan, the Liquidating Trust Agreement, and the Direct Claims Trust Agreement. Class 5A is comprised of all General Unsecured Claims. Each Holder of an Allowed General Unsecured Claim shall receive in exchange for its Allowed General Unsecured Claim, its Pro Rata share of the Liquidating Trust Interests. Class 5B is comprised of Holders of Class 5A Claims that also contribute Direct Claims to the Direct Claims Trust. The treatment afforded Holders of Class 5B Claims is in addition to the treatment afforded them as Holders of Class 5A Claims. Each Contributing Direct Claim Holder shall receive, in exchange for its Direct Claims, and in addition to its Pro Rata share of the Liquidating Trust Interests, its share of the Direct Claims Trust Interests on account of such Direct Claims. Class 5 is Impaired, and the Holders of Class 5A and Class 5B Claims are entitled to vote on the Plan as one combined Class 5 for voting purposes. There shall be no Distribution on account of Class 7 Interests. Upon the Effective Date, all Interests will be deemed cancelled and will cease to exist. Pursuant to section 1123 of the Bankruptcy Code and Bankruptcy Rule 9019, and in consideration for the classification, Distributions, releases, and other benefits provided under the Plan, upon the Effective Date, settlements contained in the Plan shall constitute a good-faith compromise and settlement of all Claims and Interests and controversies resolved pursuant to the relevant Plan provisions. The Committee shall select the initial Liquidating Trustee, with the consent of the Debtors which may not be unreasonably withheld. The Liquidating Trustee shall also serve as the Direct Claims Trustee, in accordance with the Direct Claims Trust Agreement. From and after the Effective Date, professionals may be retained by the Liquidating Trustee as set forth in the Liquidating Trust Agreement, without further need for documentation or Bankruptcy Court approval. A full-text copy of the Joint Combined Disclosure Statement and Plan dated October 6, 2025 is available at https://urlcurt.com/u?l=UWjrif from Kurtzman Carson Consultants, LLC d/b/a Verita Global, claims agent. Counsel to the Debtors: Tania M. Moyron, Esq. Van C. Durrer, II, Esq. DENTONS US LLP 601 S. Figueroa Street #2500 Los Angeles, CA 90017 Tel: (213) 623-9300 Fax: (213) 623-9924 Email: tania.moyron@dentons.com van.durrer@dentons.com - and - John D. Beck, Esq. Sarah M. Schrag, Esq. 1221 Avenue of the Americas New York, NY 10020-1089 Tel: (212) 768-6700 Fax: (212) 768-6800 Email: john.beck@dentons.com sarah.schrag@dentons.com Coumsel to the Debtors: Frank A. Oswald, Esq. TOGUT, SEGAL & SEGAL LLP 550 Broad Street Suite 1508 Newark, NJ 07102 Tel: (212) 594-5000 Fax: (212) 967-4258 Email: frankoswald@teamtogut.com - and - Albert Togut, Esq. Amanda C. Glaubach, Esq. Eitan Blander, Esq. One Penn Plaza, Suite 3335 New York, New York 10119 Tel: (212) 594-5000 Fax: (212) 967-4258 Email: altogut@teamtogut.com aglaubach@teamtogut.com eblander@teamtogut.com Counsel for the Official Committee of Unsecured Creditors: BROWN RUDNICK LLP Robert J. Stark, Esq. Kenneth J. Aulet, Esq. Bennett S. Silverberg, Esq. Jeffrey L. Jonas, Esq. Seven Times Square New York, NY 10036 Telephone: (212) 209-4924 Facsimile: (212) 938-2924 Email: rstark@brownrudnick.com kaulet@brownrudnick.com bsilverberg@brownrudnick.com jjonas@brownrudnick.com Counsel for the Official Committee of Unsecured Creditors: GENOVA BURNS LLC Daniel M. Stolz, Esq. Donald W. Clarke, Esq. 110 Allen Road, Suite 304 Basking Ridge, NJ 07920 Telephone: (973) 533-0777 Facsimile: (973) 814-4045 Email: dstolz@genovaburns.com dclarke@genovaburns.com About Powin LLC Powin, LLC, is a manufacturer of utility-scale battery energy storage systems. It specializes in designing and manufacturing advanced energy storage solutions for utility, commercial, and industrial applications. Powin and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Lead Case No. 25-16137) on June 10, 2025. In its petition, Powin listed assets and liabilities between $100 million and $500 million. Bankruptcy Judge Michael B. Kaplan handles the cases. The Debtors tapped Togut, Segal & Segal LLP and Dentons US LLP as counsel, and Huron Transaction Advisory LLC as investment banker. The U.S. Trustee for Regions 3 and 9 appointed an official committee to represent unsecured creditors in the Chapter 11 cases of Powin LLC and its affiliates. The Committee retained Genova Burns LLC and Brown Rudnick LLP as its co-counsel. PREHIRED LLC: Owner Must Face State of Washington's WCPA Case ------------------------------------------------------------- In the appeal styled JOSHUA JORDAN, Appellant, v. STATE OF WASHINGTON, et al., Appellees, Case No. 24-cv-01181-MN (D. Del.), Judge Maryellen Noreika of the United States District Court for the District of Delaware affirmed the order of the United States Bankruptcy Court for the District of Delaware that denied Joshua Jordan's motion seeking declaratory and injunctive relief in the bankruptcy case of Prehired LLC. This dispute arises in the chapter 7 cases of debtor Prehired LLC, Prehired Recruiting, LLC, and Prehired Accelerator, LLC. The bankruptcy filing was preceded by the State of Washington's filing of a consumer protection action against the Prehired Entities and their CEO and sole owner, pro se appellant Joshua Jordan in Washington State Superior Court. During the bankruptcy cases, the Consumer Financial Protection Bureau and ten other states filed a complaint initiating an adversary proceeding against the Prehired Entities, which was later resolved by a stipulated judgment. Appellant was not a party to the Adversary Proceeding or the stipulated judgment. Following the entry of the stipulated judgment, the State of Washington dismissed the Prehired Entities from the State Court Action and proceeded with its case against Appellant individually. On April 12, 2024, the State Court entered a final judgment against Appellant, holding that Appellant was personally liable for his own conduct in violation of the Washington Consumer Protection Act and other state laws. Despite having never raised this defense in the State Court Action, Appellant subsequently filed a motion in the Bankruptcy Court seeking declaratory and injunctive relief on the basis that he was a released party under the stipulated judgment by virtue of an undisclosed assignment that he executed on behalf of the Prehired Entities a few months prior to the bankruptcy. Following briefing and oral argument held on Sept. 17, 2024, the Bankruptcy Court issued an order denying Appellant's motion. The District Court finds the Motion was properly denied as procedurally improper. Assuming the Bankruptcy Court could have reached the merits, the District Court agrees that the Motion lacked substantive merit and would be properly denied on several alternative grounds. Judge Noreika explains, "The Bankruptcy Court properly denied the Motion as procedurally improper because it sought relief that the Bankruptcy Court may not grant by motion. As the Bankruptcy Court correctly held, the type of relief sought in the Motion -- an order compelling the State of Washington to act to 'undo' the State Court Judgment -- is 'a mandatory injunction” that 'requires an adversary proceeding.' The additional relief sought by the Motion (declaratory judgment, damages) also may only be obtained through adversary proceedings." "Even if the Court were to accept Appellant's interpretation of the Assignment and the Stipulated Judgment as releasing undisclosed, prepetition assignees, his arguments still fail. The State Court entered judgment against him in his personal, individual capacity, which is not derivative of Prehired's liability, which is, again, the subject of the Stipulated Judgment. The State Court found Appellant individually and directly liable for his personal participation in and knowing approval of unlawful acts. Although the Stipulated Judgment releases Prehired Entities (and their successors and assigns) from further actions arising from their alleged conduct, it does not absolve Appellant of personal liability for his own conduct." A copy of the Court's Memorandum Opinion is available at https://urlcurt.com/u?l=okEz3C from PacerMonitor.com. About Prehired LLC Prehired, LLC ws a company in Dover, Del., which trained persons to sell software. Prehired and its affiliates filed petitions for relief under Subchapter V of Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 22-11293) on Sept. 28, 2022, with up to $10 million in both assets and liabilities. On Oct. 26, 2022, the cases were transferred to the U.S. Bankruptcy Court for the District of Delaware (Bankr. D. Del. Lead Case No. 22-11007). Jami B. Nimeroff serves as Subchapter V trustee. Judge John T. Dorsey oversaw the cases. John J. Keenan, Esq., at Warren Law Group and Pashman Stein Walder Hayden, P.C. served as the Debtors' bankruptcy counsel and Delaware counsel, respectively. The case was converted to Chapter 7 on Nov. 2, 2022. Don Beskrone is the interim chapter 7 trustee. PRIME CORE: Trust Pursues $93.6MM Recovery After Bankruptcy ----------------------------------------------------------- Jarek Rutz of Law360 Bankruptcy Authority reports that the bankruptcy litigation trust for defunct crypto custodian Prime Core Technologies Inc. has launched a clawback action in Delaware, demanding the return of $93.6 million it says was improperly transferred to Enigma Securities Ltd. before the firm's collapse. Court documents reveal Prime Core moved roughly $244.4 million to Enigma and its related firm Makor Securities in the period leading up to its bankruptcy filing. The trust contends these transfers constituted preferential payments that disadvantaged other creditors, the report states. By recovering the disputed amount, the trust aims to enhance overall creditor recoveries and ensure that assets are distributed fairly in accordance with bankruptcy law, the report relays. About Prime Core Technologies Inc. Prime Core Technologies, Inc., was founded in 2016 by Scott Purcell as a trust and custodial services company with respect to fiat currency and other more traditional assets, with its primary product being college savings trusts. Following the emergence and exponential growth of the blockchain and cryptocurrency industry, the Company recalibrated its focus away from providing more traditional fiat currency custodial services and towards providing custodial services for cryptocurrency and other digital assets. Eventually, the Company emerged as a market leader, providing a unique bundle of products and services that remain unparalleled in the industry. Prime Core Technologies, Inc., and three of its affiliates sought Chapter 11 bankruptcy protection (Bankr. D.N.J. Lead Case No. 23-11161) on Aug. 16, 2023. The petitions were signed by Jor Law as interim chief executive officer. The Hon. J. Kate Stickle presides over the Debtors' cases. The Debtors listed $50 million to $100 million in estimated assets and $100 million to $500 million estimated liabilities. McDermott Will & Emery LLP serves as counsel to the Debtors. The Debtors' financial advisor is M3 Advisory Partners, LP; their investment banker is Galaxy Digital Partners LLC; and their claims and noticing agent is Stretto. PROSPECT MEDICAL: Will Sell Pennsylvania Hospitals for $13MM ------------------------------------------------------------ Alex Wolf of Bloomberg Law reports that Prospect Medical Holdings Inc. reached agreements to offload two defunct hospitals in Pennsylvania for a total of $13 million, a move that spares the company from abandoning the properties during its bankruptcy. Filings in the US Bankruptcy Court for the Northern District of Texas show that Chariot Allaire Partners LLC will acquire Crozer-Chester Medical Center for $10 million, while Restorative Health Foundation and Syan Investments will buy Springfield Hospital for $3 million. The transactions come after an Oct. 10 hearing in which Judge Stacey G. Jernigan allowed Prospect to proceed with selling or abandoning the facilities as part of its bankruptcy plan, the report states. About Prospect Medical Holdings Prospect Medical Holdings owns Roger Williams Medical Center, Our Lady of Fatima Hospital, and several other healthcare facilities. Prospect Medical sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 25-80002) on Jan. 11, 2025. In the petition filed by Paul Rundell, as chief restructuring officer, the Debtor estimated assets and liabilities between $1 billion and $10 billion each. Bankruptcy Judge Stacey G. Jernigan handles the case. The Debtors' general bankruptcy counsel is Thomas R. Califano, Esq., and Rakhee V. Patel, Esq., at Sidley Austin LLP, in Dallas, Texas, and William E. Curtin, Esq., Patrick Venter, Esq., and Anne G. Wallice, Esq., at Sidley Austin LLP, in New York. The Debtors tapped Alvarez & Marsal North America, LLC as financial advisor; Houlihan Lokey, Inc. as investment banker; and Omni Agent Solutions, Inc. as claims, noticing and solicitation agent. QUANTUM CORP: Replaces Grant Thornton With CohnReznick as Auditor ----------------------------------------------------------------- Quantum Corporation disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Audit Committee of the Board of Directors conducted a competitive process to determine the Company's independent registered public accounting firm for the fiscal year ending March 31, 2026. As a result of this process and following careful deliberation, the Audit Committee dismissed Grant Thornton LLP as the Company's independent registered public accounting firm, effective as of that same date. Grant Thornton's reports on the Company's consolidated financial statements as of and for the fiscal years ended March 31, 2025 and 2024 did not contain any adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principles, other than the explanatory paragraph regarding the Company's ability to continue as a going concern. During the Company's fiscal years ended March 31, 2025 and 2024 and the subsequent interim period through September 30, 2025, there were no "disagreements" (as defined in Item 304(a)(1)(iv) of Regulation S-K and related instructions thereto) between the Company and Grant Thornton on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Grant Thornton, would have caused Grant Thornton to make reference to the subject matter of the disagreement in connection with its report. Additionally, during the fiscal years ended March 31, 2025 and 2024 and subsequent interim period through September 30, 2025, there have been no "reportable events" (as defined in Item 304(a)(1)(v) of Regulation S-K and related instructions thereto), except for material weaknesses in the Company's internal control over financial reporting related to controls environment, revenue recognition, manufacturing inventory, and warrants agreements as disclosed in Item 9A, Controls and Procedures of the Company Annual Report on Form 10-K for the years ended March 31, 2025 and 2024. The Audit Committee discussed the subject matter of each of these reportable events with Grant Thornton, and the Company authorized Grant Thornton to respond fully to the inquiries of the successor auditor concerning the subject matter of each of these reportable events. In accordance with Item 304(a)(3) of Regulation S-K, the Company provided Grant Thornton with a copy of the disclosures it is making in this Current Report on Form 8-K and requested Grant Thornton furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether Grant Thornton agrees with the statements made by the Company herein and, if not, stating the respects in which it does not agree. A copy of Grant Thornton's letter, dated October 6, 2025, is available at https://tinyurl.com/5fy7uabz Appointment of Independent Registered Public Accounting Firm The Audit Committee also recently completed a competitive process to select an audit firm to serve as the Company's independent registered public accounting firm for the fiscal year ending March 31, 2026, and related interim periods. On September 30, 2025, the Company, at the recommendation of the Audit Committee, made the decision to select CohnReznick LLP as auditors for the Company for the fiscal year ending March 31, 2026, contingent upon the execution of an engagement letter following completion of CohnReznick's standard client acceptance procedures. During the fiscal years ended March 31, 2025 and 2024, and the subsequent interim period through the date of this Current Report on Form 8-K, neither the Company, nor anyone acting on its behalf, consulted CohnReznick regarding either: (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered with respect to the Company's consolidated financial statements, and neither a written report nor oral advice was provided to the Company by CohnReznick that CohnReznick concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue; or (ii) any matter that was the subject of a disagreement within the meaning of Item 304(a)(1)(iv) of Regulation S-K or a reportable event within the meaning of Item 304(a)(1)(v) of Regulation S-K. About Quantum Corporation Quantum Corporation, together with its consolidated subsidiaries, stores and manages digital video and other forms of unstructured data, providing streaming performance for video and rich media applications, along with low-cost, long-term storage systems for data protection and archiving. The Company helps customers around the world capture, create and share digital data and preserve and protect it for decades. As of March 31, 2025, the Company had $155.40 million in total assets, $319.77 million in total liabilities, and total deficit of $164.37 million. Bellevue, Wash.-based Grant Thornton LLP, the Company's auditor since 2013, issued a "going concern" qualification in its report dated August 26, 2025, attached to the Company's Annual Report on Form 10-K for the year ended March 31, 2025, citing that the Company believes it will be in violation of the net leverage coverage covenant for the quarter ended September 30, 2025. The Company's plan, which is also described in Note 1, contemplates the Company negotiating waivers to these covenants and is evaluating strategies to restructure or refinance the existing term debt. If the Company is unable to obtain additional waivers, the term debt will become immediately due, and additional liquidity will be required to satisfy the obligations. The Company's ability to achieve the foregoing elements of its business, which may be necessary to permit the realization of assets and satisfaction of liabilities in the ordinary course of business, is uncertain and raises substantial doubt about its ability to continue as a going concern. RAZZOO'S INC: US Trustee Appoints 3-Member Creditors' Committee --------------------------------------------------------------- Yun Park of Law360 Bankruptcy Authority reports that a three-member unsecured creditors committee has been appointed in the Chapter 11 proceedings of Cajun restaurant chain Razzoo's Inc., according to the Office of the U.S. Trustee. The committee is composed of: 1. My Tech Texas LLC, 2. South Loop Development LLC, and 3. Sabine 2016-1 LLC. Razzoo's filed for Chapter 11 protection amid ongoing financial pressures and shifting consumer trends in the casual dining sector. About Razzoo's, Inc. Razzoo's, Inc. operates a chain of casual dining restaurants that specialize in Cajun-inspired cuisine and Louisiana-style dishes across Texas, North Carolina, and Oklahoma. Founded in 1991 in Dallas, Texas, the Company has expanded to multiple locations offering a menu that includes seafood, fried specialties, and traditional Cajun items such as boudin balls, Rat Toes, and alligator tail. The restaurants are known for combining bold bayou flavors with a lively atmosphere that reflects Cajun culture and tradition. Razzoo's, Inc. in Addison, TX, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 25-90522) on Sept. 30, 2025, listing as much as 10 million to $50 million in both assets and liabilities. Philip Parsons, CEO of the Debtor, signed the petition. Judge Alfredo R Perez oversees the case. OKIN ADAMS BARTLETT CURRY LLP serve as the Debtor's legal counsel. DONLIN, RECANO & COMPANY, LLC as claims and noticing agent. STOUT CAPITAL, LLC as investment banker. STOUT RISIUS ROSS, LLC as financial advisor. RED RIVER: Challenges Brown Rudnick's 'Excessive' Fee Request ------------------------------------------------------------- Hailey Konnath of Law360 Bankruptcy Authority reports that Johnson & Johnson's talc spinoff, Red River Talc, has again asked a Texas bankruptcy judge to reject Brown Rudnick LLP's $4.3 million fee application, calling the firm's work "unnecessary, inappropriate, and duplicative." The company argued that Brown Rudnick's engagement was never properly approved by the court and that its services offered little value to the Chapter 11 process, according to the report. In its renewed objection, Red River Talc maintained that the law firm's billing included tasks that overlapped with those of other professionals already engaged in the case, creating excessive and redundant charges for the bankruptcy estate. The company also said the fee request exaggerated the firm's contribution to the talc claimants' committee, according to report. The bankruptcy court will determine whether Brown Rudnick's retention was valid and whether its $4.3 million in requested fees meet the requirements for professional compensation under Chapter 11. The ruling could set a precedent for fee oversight in complex mass-tort bankruptcy cases. About J&J Talc Units LLT Management, LLC (formerly known as LTL Management LLC) was a subsidiary of Johnson & Johnson that was formed to manage and defend thousands of talc-related claims and oversee the operations of Royalty A&M. Royalty A&M owns a portfolio of royalty revenue streams, including royalty revenue streams based on third-party sales of LACTAID, MYLANTA/MYLICON and ROGAINE products. LTL Management first filed a petition for Chapter 11 protection (Bankr. W.D.N.C. Case No. 21-30589) on Oct. 14, 2021. The case was transferred to New Jersey (Bankr. D.N.J. Case No. 21-30589) on Nov. 16, 2021. The Hon. Michael B. Kaplan is the case judge. At the time of the filing, the Debtor was estimated to have $1 billion to $10 billion in both assets and liabilities. In the 2021 case, LTL Management tapped Jones Day and Rayburn Cooper & Durham, P.A., as bankruptcy counsel; King & Spalding, LLP and Shook, Hardy & Bacon LLP as special counsel; McCarter & English, LLP as litigation consultant; Bates White, LLC as financial consultant; and AlixPartners, LLP as restructuring advisor. Epiq Corporate Restructuring, LLC, served as the claims agent. On Dec. 24, 2021, the U.S. Trustee for Regions 3 and 9 reconstituted the talc claimants' committee and appointed two separate committees: (i) the official committee of talc claimants I, which represents ovarian cancer claimants, and (ii) the official committee of talc claimants II, which represents mesothelioma claimants. The official committee of talc claimants I tapped Genova Burns LLC, Brown Rudnick LLP, Otterbourg PC and Parkins Lee & Rubio LLP as its legal counsel. Meanwhile, the official committee of talc claimants II is represented by the law firms of Cooley LLP, Bailey Glasser LLP, Waldrep Wall Babcock & Bailey PLLC, Massey & Gail LLP, and Sherman Silverstein Kohl Rose & Podolsky P.A. Re-Filing of Chapter 11 Petition On Jan. 30, 2023, a panel of the Third Circuit issued an opinion directing this Court to dismiss the 2021 Chapter 11 Case on the basis that it was not filed in good faith. Although the Third Circuit panel recognized that the Debtor "inherited massive liabilities" and faced "thousands" of future claims, it concluded that the Debtor was not in financial distress before the filing. On March 22, 2023, the Third Circuit entered an order denying the Debtor's petition for rehearing. The Third Circuit entered an order denying LTL's stay motion on March 31, 2023, and, on the dame day,issued its mandate directing the Bankruptcy Court to dismiss the 2021 Chapter 11 Case. The Bankruptcy Court entered an order dismissing the 2021 Case on April 4, 2023. Johnson & Johnson on April 4, 2023, announced that its subsidiary LTL Management LLC (LTL) has re-filed for voluntary Chapter 11 bankruptcy protection (Bankr. D.N.J. Case No. 23-12825) to obtain approval of a reorganization plan that will equitably and efficiently resolve all claims arising from cosmetic talc litigation against the Company and its affiliates in North America. In the new filing, J&J said it has agreed to contribute up to a present value of $8.9 billion, payable over 25 years, to resolve all the current and future talc claims, which is an increase of $6.9 billion over the $2 billion previously committed in connection with LTL's initial bankruptcy filing in October 2021. LTL also has secured commitments from over 60,000 current claimants to support a global resolution on these terms. In August 2023, U.S. Bankruptcy Judge Michael Kaplan in Trenton, New Jersey, ruled that the second bankruptcy case should be dismissed. 3rd Try In May 2024, J&J announced its subsidiary LLT Management LLC is soliciting support for a consensual prepackaged bankruptcy plan to resolve its talc-related liabilities. Under the terms of the plan, a trust would be funded with over $5.4 billion in the first three years and more than $8 billion over the course of 25 years, which J&J calculates to have a net present value of $6.475 billion. If the Plan is accepted by at least 75% of voters, a bankruptcy was to be filed under the case name In re Red River Talc LLC. Epiq Corporate Restructuring, LLC is serving as balloting and solicitation agent for LLT. On Sept. 20, 2024, Red River Talc LLC filed a Chapter 11 bankruptcy petition (Bankr. S.D. Tex. Case No. 24-90505). Porter Hedges LLP and Jones Day serve as counsel in the new Chapter 11 case. Epiq is the claims agent. Paul Hastings LLP is counsel to the Ad Hoc Committee of Supporting Counsel. Randi S. Ellis is the proposed prepetition legal representative of future claimants. REIDS REALESTATE: Cameron McCord Named Subchapter V Trustee ----------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Cameron McCord, Esq., at Jones & Walden, LLC, as Subchapter V trustee for Reids Realestate Contracting, LLC. Ms. McCord will be paid an hourly fee of $500 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. McCord declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Cameron McCord, Esq. Jones & Walden, LLC 699 Piedmont Avenue, NE Atlanta, GA 30308 Phone: (404) 564-9300 Fax: (404) 564-9301 Email: cmccord@joneswalden.com About Reids Realestate Contracting LLC Reids Realestate Contracting, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-61517) on October 6, 2025. RONBON LLC: Unsecureds Owed $5.7M Will Get 10% over 5 Years ----------------------------------------------------------- Ronbon LLC d/b/a The Ainsworth Hoboken submitted an Amended Disclosure Statement describing Amended Chapter 11 Plan dated October 6, 2025. Recoveries projected in the Plan shall be from the Debtor's business operations; and shall be used to make the payment of any outstanding statutory fees due and owing the United States Trustee; the payment of allowed costs of administration of the case (the "Administrative Claims"); and a distribution to the holders of Allowed Claims. During the course of the chapter 11 period, the Debtor's principal has made substantial contributions to the continued operations of the Debtor. These substantial contributions are considered "new value" contributions, and the Debtor avers that these new value contributions will satisfy the obligations referred to as the absolute priority rule. The Debtor scheduled the United States Small Business Administration (the "SBA") as a secured creditor in the amount of $245,000. On September 30, 2025, SBA filed a timely proof of claim ("Claim No. 14") in the amount of $2,234,638.06. Accordingly, SBA shall have a claim in that amount. However, as the Debtor has stated, there are no assets available to secure the alleged secured claim of the SBA. Accordingly, the Debtor shall treat the claim of the SBA as an allowed general unsecured claim, and it shall be entitled to receive the treatment provided to general unsecured creditors. Class 4 consists of the Allowed General Unsecured Claims of the Debtor. A creditor may hold an allowed general unsecured claim by virtue of the Debtor having scheduled the claim in its bankruptcy petition and schedules as a claim that is not disputed, unliquidated or contingent. In such instance, the claim shall be deemed allowed at the amount scheduled. In the event that a general unsecured creditor filed a timely proof of claim, and that claim was not objected to by the Debtor, that claim shall also be deemed an allowed general unsecured claim. Finally, if a creditor disagreed with the amount of the claim as scheduled by the Debtor, that creditor could also have an allowed claim by the filing of a timely proof of claim which claim was not objected to by the Debtor. The Debtor's allowed general unsecured creditors total $5,698,880.74. The Debtor's plan proposes to pay the allowed general unsecured creditors the sum of approximately $569,888 (or 10%) over a period of five years. Payments on a monthly basis shall be in the approximate amount of $9,498.00 Class 4 creditors are impaired under the Plan and entitled to vote. The Debtor's proposed Plan shall be funded by the Debtor's continued operations. To that end, the Debtor has prepared a budget for the creditors review. This budget is based upon historical data and certain assumptions that are made by the Debtor. The Debtor will be operated by Matthew Shendell. Mr. Shendell was associated with the Debtor prior to the Petition Date. He will continue in his role as manager of the Debtor. Mr. Shendell shall be entitled to a salary of $2,000.00 per week. A full-text copy of the Amended Disclosure Statement dated October 6, 2025 is available at https://urlcurt.com/u?l=7WDoW2 from PacerMonitor.com at no charge. The Debtor's Counsel: Fred S. Kantrow, Esq. THE KANTROW LAW GROUP, PLLC 732 Smithtown Bypass, Suite 101 Smithtown, NY 11787 Tel: 516-703-3672 Email: fkantrow@thekantrowlawgroup.com About Ronbon LLC Ronbon LLC, engaged in the restaurant industry, operates The Ainsworth Hoboken, a popular dining and bar venue located at 310 Sinatra Drive in Hoboken, NJ. Ronbon LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-41700) on April 8, 2025. In its petition, the Debtor reports total assets of $1,227,446 and total liabilities of $7,122,070. Judge Nancy Hershey Lord handles the case. The Debtor is represented by Fred S. Kantrow, Esq. at THE KANTROW LAW GROUP, PLLC. Newtek Small Business Finance, LLC, as lender, is represented by: Matthew Burrows, Esq. CHARTWELL LAW One Battery Park Plaza, Suite 701 New York, NY 10004-1445 Telephone: (212) 968-2300 e-mail: mburrows@chartwelllaw.com -and- John J. Winter, Esq. CHARTWELL LAW 700 American Avenue, Suite 303 King of Prussia, PA 19406 Telephone: (610) 666-8437 Telecopier: (610) 666-7704 e-mail: jwinter@chartwelllaw.com RYVYL INC: Appoints Tod Browndorf to Board of Directors ------------------------------------------------------- RYVYL Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Board of Directors appointed Tod Browndorf as a director of the Company. Mr. Browndorf will serve until the date of the Company's 2025 Annual Meeting of Shareholders and until his successor is duly elected and qualified. Mr. Browndorf is a seasoned executive with a career spanning technology, finance, and entrepreneurship, built on a foundation of discipline, leadership, and global experience. With over three decades of leadership experience, he has founded and scaled innovative companies at the intersection of business and technology. As CEO of Coggno Inc., since 2010, Mr. Browndorf has built a leading compliance training platform that streamlines workforce training for organizations worldwide. Prior to Coggno, he founded Hirehand, a micropayment platform for companies and job seekers, and served as COO of Pacific Net Soft, where he managed operations and sales for a recruiting and contingent search firm. Earlier in his career, Mr. Browndorf was an OTC Trader with Montgomery Securities in San Francisco and a member of the New York Futures Exchange (NYFE), gaining expertise in financial markets, trading strategies, and risk management. He studied at The Hebrew University of Jerusalem and Monash University, providing him with a global perspective and a solid foundation in economics. Mr. Browndorf is also a veteran of the Israel Defense Forces (IDF), where he served in the Combat Infantry. Mr. Browndorf's career has focused on strategic growth, building high-performing teams, and driving innovation. Based in San Jose, California, he continues to focus on developing solutions that empower businesses and shape the future of workforce learning and development. There is no arrangement or understanding between Mr. Browndorf and any other person pursuant to which he was selected to serve as a director. Mr. Browndorf does not have any family relationships with any of the Company's executive officers or directors, and does not have any direct or indirect material interest in any transaction or proposed transaction required to be reported under Item 404(a) of Regulation S-K. About RYVYL Inc. RYVYL Inc., headquartered in San Diego, California, develops financial technology platforms and tools focused on global payment acceptance and disbursement. The Company's QuickCard product, initially a physical and virtual card processing system for high-risk, cash-based businesses, has transitioned to a fully virtual, app-based platform and is now offered through a licensing model to partners with compliance capabilities. RYVYL operates in the fintech industry, providing cloud-based payment solutions and merchant management services. In its audit report dated March 28, 2025, Simon & Edward, LLP issued a "going concern" qualification citing that the Company transitioned its QuickCard product in North America away from terminal-based to app-based processing on February 2024, which was then terminated on the second quarter of 2024 and the Company then decided to introduce a licensing product for its payments processing platform. This business reorganization has resulted in a significant decline in processing volume and revenue, the recovery of the loss of revenues resulting from this product transition is not expected to occur until late 2025. The auditor said the loss of revenue has jeopardized the Company's ability to continue as a going concern. The Company reported a net loss of $26.83 million in 2024 following a net loss of $53.10 million in 2023. As of June 30, 2025, the Company had $20.60 million in total assets, $27.54 million in total liabilities, and a total stockholders' deficit of $6.94 million. As of Dec. 31, 2024, the Company had an accumulated deficit of $179.4 million. According to RYVYL, there can be no assurances that it will be able to achieve a level of revenues adequate to generate sufficient cash flow from operations or additional financing through private placements, public offerings and/or bank financing necessary to support its working capital requirements. To the extent that funds generated from any private placements, public offerings and/or bank financing are insufficient, it will need to raise additional working capital. There is no guarantee that additional financing will be available, or that any obtained funding can be secured on terms deemed acceptable. SANUWAVE HEALTH: COO Holds 37 Common Shares, 25,000 Stock Options ----------------------------------------------------------------- Daniel Coyle, Chief Operating Officer of SANUWAVE Health, Inc. (NASDAQ: SNVW), disclosed in a Form 3 filed with the U.S. Securities and Exchange Commission that as of October 6, 2025, he beneficially owns 37 shares of common stock directly, as well as options to purchase an additional 25,000 shares of common stock--20,000 exercisable at $14.20 per share granted on October 22, 2024 (vesting over three years in quarterly installments), and 5,000 exercisable at $27 per share granted on June 4, 2025 (vesting upon achievement of project-based performance milestones). Daniel Coyle may be reached at: c/o SANUWAVE Health, Inc. 9600 W. 76th Street, Suite 118 Eden Prairie, Minn. 55344 United States Tel: 952-656-1029 A full-text copy of Mt. Coyle's SEC Report is available at https://tinyurl.com/pn99vejk About SANUWAVE Headquartered in Suwanee, Ga., SANUWAVE Health, Inc. (OTCQB:SNWV) -- http://www.SANUWAVE.com-- is an ultrasound and shock wave technology Company using patented systems of noninvasive, high-energy, acoustic shock waves or low intensity and non-contact ultrasound for regenerative medicine and other applications. The Company's focus is regenerative medicine utilizing noninvasive, acoustic shock waves or ultrasound to produce a biological response resulting in the body healing itself through the repair and regeneration of tissue, musculoskeletal, and vascular structures. The Company's two primary systems are UltraMIST and PACE. UltraMIST and PACE are the only two Food and Drug Administration (FDA) approved directed energy systems for wound healing. New York, NY-based Marcum LLP, the Company's auditor since 2018, issued a "going concern" qualification in its report dated March 20, 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, has negative working capital, and needs to refinance its debt to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. For the fiscal year ended December 31, 2024, SANUWAVE had $30.12 million in total assets, $42.84 million in total liabilities, and $12.72 million in total stockholders' deficit. As of June 30, 2025, the Company had $33.05 million in total assets, $47.82 million in total liabilities, and $14.78 million in total stockholders' deficit. SCARFE WHISPERS: Gets Interim OK to Use Cash Collateral ------------------------------------------------------- Scarfe Whispers Oyster Bar and Seafood Lounge, LLC received another extension from the U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville Division to use cash collateral. The court's fourth interim order approved the Debtor's continued use of cash collateral to pay operating expenses pending the final hearing on November 20. The Debtor's cash collateral consists of cash and accounts receivable. It estimates the value of the accounts receivable to be approximately $1,391 based on a current aging report of receivables less than 90 days old. Vader Mountain Capital asserts an interest in the cash collateral and is owed approximately $25,000 as of the petition date. As protection for the Debtor's use of its cash collateral, the lender will be granted a replacement lien on property acquired by the Debtor's estate after the petition date, with the same priority and extent as its pre-bankruptcy lien. The Debtor's right to use cash collateral terminates immediately upon order of the court; the dismissal or conversion of its Chapter 11 case; the entry of an order that alters the validity or priority of the replacement liens granted to the lender; cessation of operation; the lifting of automatic stay that allows any entity to proceed against assets of the Debtor that constitute cash collateral; or the entry of an order authorizing a security interest in the collateral to secure any credit obtained or debt incurred that would be senior to or equal to the replacement lien. About Scarfe Whispers Oyster Bar and Seafood Lounge Scarfe Whispers Oyster Bar and Seafood Lounge, LLC filed Chapter 11 petition (Bankr. M.D. Fla. Case No. 25-01951) on June 12, 2025, listing between $100,001 and $500,000 in assets and between $100,001 and $500,000 in liabilities. Judge Jason A. Burgess oversees the case. The Debtor is represented by: Bryan K. Mickler, Esq. Law Offices of Mickler & Mickler, LLP 5452 Arlington Expressway Jacksonville, FL 322211 Telephone: (904) 725-0822 Facsimile: (904) 725-0855 Email: bkmickler@planlaw.com SHILO INN: Case Summary & 16 Unsecured Creditors ------------------------------------------------ Debtor: Shilo Inn, Newport, LLC d/b/a Shilo Inn Newport Oceanfront 536 SW Elizabeth Street Newport, OR 97365 Business Description: Shilo Inn, Newport, LLC, doing business as Shilo Inn Newport Oceanfront, operates a 179-room beachfront hotel in Newport, Oregon. The property features ocean-view accommodations, indoor pools, a restaurant and lounge, meeting facilities, and direct access to the beach along the city's central coastline. Chapter 11 Petition Date: October 10, 2025 Court: United States Bankruptcy Court Western District of Washington Case No.: 25-42508 Judge: Hon. Mary Jo Heston Debtor's Counsel: Richard B. Keeton, Esq. BUSH KORNFIELD LLP 601 Union St., Suite 5000 Seattle, WA 98101-2373 Tel: 206-292-2110 Fax: 206-292-2104 E-mail: rkeeton@bskd.com Total Assets: $20,611,231 Total Liabilities: $15,877,870 The petition was signed by Brian Weiss, Receiver, President of Shilo Newport Corp., Manager of the Debtor. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/RAMAVPA/Shilo_Inn_Newport_LLC__wawbke-25-42508__0001.0.pdf?mcid=tGE4TAMA List of Debtor's 16 Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Biba, LLC $9,500 PO Box 2234 Newport, OR 97365 Sarabjit Singh, Bhagwant Sidhu Email: sonubrar011@yahoo.com 2. Booking.com B.V. $7,591 PO Box 740401 Bank of America Lockbox Servs. Los Angeles, CA 90074-0401 Email: customer.service@booking.com 3. Central Lincoln PUD $4,199 PO Box 1126 Newport, OR 97365 Fax: (541) 574-2098 4. CenturyLink $1,187 P.O. Box 52187 Phoenix, AZ 85072-2187 Email: care.inquiry@Lumen.com 5. City of Newport $10,941 169 SW Coast Highway Newport, OR 97365 Jennifer Gaddis Email: jgaddis@ghrlawyers.com 6. Ecolab Inc. $10,663 PO Box 100512 Pasadena, CA 91189-0512 Email: institutionalorders@ecolab.com 7. Fire Protection Services, Inc. $5,286 9950 SW Arctic Drive Beaverton, OR 97005 Email: fire2112@ymail.com 8. Lincoln Cnty. Taxes $47,078 Assessors Office 225 West Olive Street Room 207 Newport, OR 97365 Email: assessorinfo@co.lincoln.or.us Fax: 541-265-4148 9. NW Natural $2,295 PO Box 6017 Portland, OR 97228-6017 Email: media@nwnatural.com 10. Oregon Dep't of Revenue Payroll Taxes $0 PO Box 14800 Salem, OR 97309-0920 Email: OSBP.help.dor@dor.oregon.gov Fax: (503) 945-8738 11. Oregon Dep't of Revenue Lodging Tax $39,079 PO Box 14110 Salem, OR 97309-0910 Email: OSBP.help.dor@dor.oregon.gov Fax: (503) 945-8738 12. Rau Plumbing Inc. $922 626 NE 1st Street Newport, OR 97365 Email: RauPlumbing@yahoo.com 13. Sceptre Hospitality Resources $5,184 PO Box 4356 Dept. 1936 Houston, TX 77210-4356 Email: shr@shr.global 14. Sprague Pest Control $1,712 PO Box 2222 Tacoma, WA 98401 Fax: 253-272-9676 15. TK Elevator Corporation $6,727 788 Circle 75 Parkway SE Suite 500 Atlanta, GA 30339 Email: mediarelations.na@tkelevator.com 16. WorldVue Connect, Inc. $6,499 5847 San Felipe Street 21st Floor Houston, TX 77057 Email: service@worldvue.com SIDE YARD PUBLIC: Gets Interim OK to Use Cash Collateral -------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of California issued an interim order granting in part the motion by Side Yard Public House, Inc. and Milovan, Inc. to use cash collateral. The motion filed on October 3 sought approval for Side Yard to use cash collateral and for Milovan to pay administrative expenses for goods delivered within 20 days of the petition date, as well as pre-bankruptcy wages owed to non-insider employees entitled to priority. The interim order signed by Judge Barrett Marum authorized Side Yard to use cash collateral through October 28 in accordance with its budget. Side Yard was ordered to file a supplement to the motion clarifying the amount of cash collateral and the duration of the proposed use, and an amended budget that addresses the issues raised. The next hearing is set for October 28. The deadline for filing objections or response is on October 23. Milovan operates a market and deli at 10326 Meadow Glen Way E, Escondido, California, while Side Yard operates an outdoor bar and restaurant on the same premises. The businesses were financially impacted during the COVID-19 pandemic, resulting in repeated closures, declining demand, and mounting debt. To maintain operations during the pandemic, Milovan took out an SBA loan which was amended multiple times, growing from $150,000 in 2020 to approximately $780,900 in 2022. The SBA loan is secured by a first-priority UCC-1 lien against all of Milovan's assets. To expand operations during the pandemic, Milovan used about $400,000 of the SBA funds to construct the outdoor restaurant. However, due to liquor license restrictions, Milovan could not operate the restaurant with alcohol sales. In response, Alex and Shari formed Side Yard in 2021, which assumed operations of the outdoor bar and restaurant in 2022. Since then, Side Yard has experienced moderate year-over-year growth in sales, supported by positive community reception and partnerships with local venues such as the Lawrence Welk Resort Village. To support growth, Side Yard entered into a merchant cash advance agreement with Suncoast Funding Group, "selling" $48,410 in future receivables for $33,000. The MCA involved high-interest weekly payments of $1,732.50, implying an 86% annual interest rate. Side Yard considers the MCA to be a disguised, usurious loan secured by a UCC-1 lien. Before filing for bankruptcy, Side Yard repaid $19,063 of this obligation. On the petition date, Side Yard had approximately $73,300 in assets, mostly in kitchen equipment and inventory, and $466,942 in unsecured debt, largely owed to Milovan. Its secured debt includes Suncoast's disputed first-priority claim and a second-priority claim by the California Department of Tax and Fee Administration for unpaid sales tax, which is also entitled to priority status under bankruptcy law. About Side Yard Public House Inc. Side Yard Public House, Inc. operates an outdoor restaurant and bar at 10326 Meadow Glen Way E, Escondido, CA 92026. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Cal. Case No. 25-04126-JBM11) on October 2, 2025. In the petition signed by Shari Nickelson, chief executive officer, the Debtor disclosed up to $100,000 in assets and up to $1 million in liabilities. Judge Barrett Marum oversees the case. Donald Reid, Esq., at Law Office of Donald W. Reid, represents the Debtor as legal counsel. SIDE YARD: Jean Goddard of NGS LLP Named Subchapter V Trustee ------------------------------------------------------------- The Acting U.S. Trustee for Region 15 appointed Jeanne Goddard, a certified public accountant at NGS, LLP, as Subchapter V trustee for Side Yard Public House, Inc. Ms. Goddard will be paid an hourly fee of $275 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Goddard declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Jeanne Goddard, CPA, CFE, CIRA NGS, LLP 6120 Paseo Del Norte Suite A-1 Carlsbad, CA 92011 Phone: (760) 930-0282 Email: jgoddard@NGSLLP.com About Side Yard Public House Inc. Side Yard Public House, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Calif. Case No. 25-04126) on October 2, 2025, with $50,001 to $100,000 in assets and $500,001 to $1 million in liabilities. Judge J. Barrett Marum presides over the case. Donald Reid, Esq., at the Law Office of Donald W. Reid represents the Debtor as bankruptcy counsel. SIGNATURE YHM: Seeks to Tap Force Ten Partners as Financial Advisor ------------------------------------------------------------------- Signature YHM Land, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of California to employ Force Ten Partners, LLC as financial advisor. The firm will render these services: (a) assist the Debtor and its insolvency counsel in analyzing issues related to plan structure and feasibility, valuation and the 1111(b) election; (b) provide expert testimony, as necessary; and (c) perform other required services as may agreed upon by the Debtor and Force Ten. The firm will be paid at these hourly rates: Partners $890 - $990 Managing Directors $595 - $795 Directors, Senior Associates $500 - $580 Associates and Staff $240 - $520 In addition, the firm will seek reimbursement for expenses incurred. Michael VanderLey, a partner Force Ten Partners, 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: Michael VanderLey Force Ten Partners, LLC 5271 California Ave., Ste. 270 Irvine, CA 92617 Telephone: (949) 357-2360 About Signature YHM Land LLC Signature YHM Land LLC operates in the real estate sector. Signature YHM Land LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 25-50324) on March 11, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtor tapped Jeffrey I. Golden, Esq., at Golden Goodrich LLP as counsel and Force Ten Partners, LLC as financial advisor. SINGH BROS: Plan Exclusivity Period Extended to November 11 ----------------------------------------------------------- Judge Mary Jo Heston of the U.S. Bankruptcy Court for the Western District of Washington extended Singh Bros Express LLC and affiliates' exclusive periods to file a plan of reorganization to November 11, 2025. As shared by Troubled Company Reporter, the Debtors, Kuldip Singh, Surjit Singh, and All Track Transport USA, Inc. (together, the "Parties "), along with their respective counsel, participated in an all-day settlement conference conducted by the Honorable Peter C. McKittrick on May 16, 2025. At the end of the conference, the Parties (including Transition360) reached an agreement that would comprehensively settle all disputes, provide for the transfer of assets, and result in the dismissals of numerous appeals and the bankruptcy cases of the Debtors, Kuldip, and Surjit. The agreement was memorialized on the record (the "Settlement Agreement") before Judge McKittrick. On September 11, 2025, this Court entered the Agreed Order approving Settlement Agreement and Compromise. As to postpetition operations, Express continues to pay its postpetition expenses in a timely manner. The Debtors claim that they have filed a Plan, and the extension of the exclusivity period is not meant to pressure creditors. The Debtors are paying their trade creditors in full each month and have reached a Settlement Agreement with their primary creditor, which has been reduced to writing and approved by this Court. Counsel to the Debtors: Jane Pearson, Esq. Polsinelli PC 1000 Second Avenue, Suite 3500 Seattle, WA 98104 Telephone: (206) 393-5415 Email: jane.pearson@polsinelli.com About Singh Bros Express Singh Bros Express, LLC, operates in the general freight trucking industry. Singh Bros Express and its affiliates, Singh Bros Transport, LLC, and Singh Bros Trucking, LLC, filed Chapter 11 petitions (Bankr. W.D. Wash. Lead Case No. 24-42600) on Nov. 15, 2024. At the time of the filing, Singh Bros Express reported $1 million to $10 million in both assets and liabilities. Judge Mary Jo Heston handles the cases. The Debtors are represented by Jane E. Pearson, Esq., at Polsinelli, PC. SIYATA MOBILE: Completes CGI Merger, Becomes Core AI Holdings Inc. ------------------------------------------------------------------ Core AI Holdings, Inc. (f/k/a Siyata Mobile Inc.) disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company closed the merger contemplated by the Amended and Restated Merger Agreement by and among the Company, Core Gaming, Inc., a Delaware corporation ("Core"), and Siyata Core Acquisition U.S., Inc., a Delaware Corporation and wholly-owned subsidiary of the Company ("Merger Sub"), pursuant to which Core merged with and into Merger Sub, with Core continuing as the surviving entity and a wholly owned subsidiary of the Company. Pursuant to the terms of the Merger Agreement, in exchange for the outstanding shares of Core's common stock, the Company issued an aggregate of 67,302,300 of its common shares, no par value per share, to the former shareholders of Core. The Company's common share begins trading on the Nasdaq Capital Market, on a post-Merger basis, on October 7, 2025, under the symbol CHAI. Name Change: On October 2, 2025, in anticipation of the closing of the Merger, the Company filed a Certificate of Change of Name with the Province of British Columbia, Canada, changing the Company's name from Siyata Mobile Inc. to Core AI Holdings, Inc. Share Consolidation: In connection with the start of post-Merger trading of the Company's common shares, on October 7, 2025, the Company effectuated a 1 for 4 share consolidation of its authorized share capital, such that every 4 common shares, no par value, in the authorized share capital of the Company be consolidated into 1 common share, no par value. The Reverse Split was approved by the Company's board of directors on August 22, 2025. The Reverse Split is intended to allow the Company to trade at above the $4 minimum price required for issuers initially listing on the Nasdaq Capital Market. Following the closing of the Merger, as of October 6, 2025, there were 79,689,523 of the Company's common shares outstanding. Effecting the Reverse Split will reduce the number of outstanding common shares to approximately 19,922,381. In connection with the Reverse Split, the CUSIP number for the common shares has changed to: 83013Q871. Treatment of Share Options, Warrants and Restricted Shares: The number of common shares into which the Company's outstanding options, warrants and restricted shares, as well as the options' and warrants' relevant exercise price per share, will be proportionally adjusted to reflect the Reverse Split. Fractional Shares: Any fractional shares that would have resulted because of the Reverse Split will be rounded up to the nearest whole share. Officers and Directors of the Company: Pursuant to the Merger Agreement, effective as of the effective time of the Merger the Company's directors and executive officers (except for its Chief Financial Officer) resigned and the Company's Board of Directors appointed a new Chief Executive Officer and new Directors. As of the Effective Time, the Board of Directors consists of Marc Seelenfreund, Aitan Zacharin, Luisa Ingargiola, Thomas Tarala, and Mordechai Stenge, Aitan Zacharin serves as Chief Executive Officer, and Gerald Bernstein continues to serve as Chief Financial Officer. Certain biographical information about the Directors and executive officers is available at https://tinyurl.com/mr3czmsd None of the directors or executive officers has a family relationship. The Board of Directors has determined that Ms. Ingargiola and Messrs. Tarala and Stenge qualify as "independent directors" within the meaning of Nasdaq's rules. The Company's Audit Committee consists of Ms. Ingargiola (Chair) and Messrs. Stenge and Tarala. The Company's Compensation Committee consists of Mr. Stenge and Ms. Ingargiola. Related Agreements: * Registration Rights Agreement On the closing date of the Merger, the Company entered into a registration rights agreement with the former shareholders of Core pursuant to which the Company agreed to file a registration statement under the Securities Act of 1933 to register the resale by the Holders of the Shares and any other equity security of the Company issued or issuable with respect to the Shares as permitted by Rule 415 under the Securities Act, subject to certain requirements and customary conditions. The registration rights agreement also provides for customary demand and piggyback registration rights. * Employment Agreement with Aitan Zacharin Effective as of the Effective Time, the Company entered into an Employment Agreement with Aitan Zacharin pursuant to which he serves as our Chief Executive Officer. Mr. Zacharin's employment agreement provides for an initial term of five years ending on October 3, 2030, and automatically renews for an additional five-year term unless he provides the Company with written notice of termination prior to the expiration of the initial term. The agreement provides for an initial annual base salary of $550,000, subject to increases on January 1 of each year if and to the extent that the Company's annual revenue for immediately preceding calendar year falls within the corresponding band set forth therein, which ranges from $650,000 if annual revenue is at least $100 million to $1.5 million if annual revenue exceeds $400 million. The agreement also provides that Mr. Zacharin will have the opportunity to earn an annual performance bonus, with the target annual bonus based on annual revenue for the prior year, ranging from an amount equal to 50% of his base salary if annual revenue is below $100 million and 100% of his base salary if annual revenue is at least $100 million to 250% of base salary if annual revenue is greater than $500 million, provided that the target annual bonus will not subsequently decrease even if there is a decrease in annual revenue in a future year, and subject to upward or downward adjustment based on the achievement of Company and/or individual performance goals as determined by the Compensation Committee of the Company's Board of Directors. Mr. Zacharin is also eligible to receive, subject to approval by the Compensation Committee, annual equity awards in the form of stock options, restricted stock, or a combination thereof, with a grant-date valuation equal to 100% of his then-current base salary. Pursuant to the terms of his employment agreement, the Company may terminate Mr. Zacharin's employment and his employment agreement for Cause, as defined in the agreement, or without Cause pursuant to mutual agreement in writing, and Mr. Zacharin may terminate his employment with Good Reason, as defined in the agreement, or without Good Reason with the prior written consent of the Company upon 21 days' prior written notice to the Company. Zacharin's employment and the agreement will also terminate upon Mr. Zacharin's death or his failure to be able to perform his duties for at least 60 days by reason of disability, as described in the agreement. Upon termination by the Company without Cause or by Mr. Zacharin for Good Reason, in either case outside of a Change in Control (as defined in the agreement), Mr. Zacharin is entitled to receive: (i) a lump sum cash payment equal to 36 months of his then-current base salary; (ii) a prorated portion of his target annual bonus for the year in which the termination occurs, based on the number of days elapsed in such fiscal year through the date of his termination, payable in a lump sum;] (iii) continued healthcare coverage for him and his eligible dependents at the Company's expense (or a cash payment in lieu thereof) for a period of 36 months following termination; and (iv) accelerated vesting of any then-outstanding equity or long-term incentive awards to the extent set forth in the applicable award agreement. If Mr. Zacharin's employment is terminated by the Company without Cause or by Mr. Zacharin for Good Reason, in either case within two years after a Change in Control, then Mr. Zacharin is entitled to receive (i) a lump sum cash payment equal to 60 months of his then-current base salary; (ii) continued health coverage for him and his eligible dependents at the Company's expense (or a cash payment in lieu thereof) for a period of 36 months following his termination; (iii) a lump sum special bonus equal to 5% of the market capitalization of the Company (on a fully diluted basis) or, in the event of a Change in Control involving a surviving corporation, 5% of the increased valuation of the surviving corporation (as determined by the definitive agreement or highest market cap within 30 days post-transaction), payable in cash, restricted stock, or a combination thereof, at Mr. Zacharin's election within 15 days following his termination date; and (iv) fully accelerated vesting of all outstanding equity and long-term incentive awards, and any unexercised portion of such awards shall remain exercisable for their remaining term. All such termination payments are subject to Mr. Zacharin's execution and non-revocation of a general release of claims in favor of the Company within 60 days following his termination. The agreement also contains confidentiality, non-competition, non-solicitation and non-disparagement provisions. * Foreign Private Issuer Exemption Under Nasdaq rules, as a "foreign private issuer" as defined by the U.S. Securities and Exchange Commission, the Company may elect to follow certain corporate governance practices permitted under the laws of Canada, and more specifically, British Columbia, in lieu of compliance with corresponding corporate governance requirements otherwise imposed by Nasdaq for U.S. domestic issuers. In accordance with applicable Canadian law and practice and subject to the exemption set forth in Rule 5615 of Nasdaq's listing rules, the Company has elected to follow home country practice in lieu of Nasdaq corporate governance requirements with respect to the following Nasdaq requirements: * Distribution of periodic reports to shareholders; proxy solicitation. As opposed to the Nasdaq rules, which require listed issuers to make such reports available to shareholders in one of a number of specific manners, the Company's home country rules do not require it to distribute periodic reports directly to shareholders, and the generally accepted business practice is not to distribute such reports to shareholders but to make such reports available through a public website. In addition to making such reports available on a public website, the Company will continue to make its audited financial statements available to its shareholders at its offices and will only mail such reports to shareholders upon request. As a foreign private issuer, the Company is exempt from the SEC's proxy solicitation rules. * Quorum. While Nasdaq rules require that the quorum for purposes of any meeting of the holders of a listed company's common voting stock, as specified in a company's constating documents, be no less than 33 1/3% of the company's outstanding common voting stock, under the Company's home country rules a company is entitled to determine in its articles the number of shareholders and percentage of holdings required for a quorum at a shareholders meeting. Our articles of association provide that the quorum for the transaction of business at a meeting of shareholders is two persons who are, or represent by proxy, shareholders holding, in the aggregate, at least 5% of the shares entitled to be voted at the meeting. The quorum set forth in our articles with respect to an adjourned meeting, however, consists of one or more shareholders entitled to attend and vote at the meeting if the standard required quorum is not present within half an hour from the time set for the holding of such adjourned meeting. * Majority Independent Directors. The corporate governance practice in the Company's home country does not require a majority of its board of directors to consist of independent directors. Thus, although the Company's directors must act in the best interests of the Company, it is possible that fewer board members will be exercising independent judgment and the level of board oversight on our management may decrease as a result. Our Board of Directors has, however, determined that Luisa Ingargiola, Thomas Tarala, and Mordechai Stenge qualify as independent directors, as defined in Nasdaq's listing rules, and as such, our Board does currently consist of a majority of independent directors. * Shareholder Approval Requirements. Nasdaq rules require that a listed company obtain shareholder approval prior to certain dilutive events, including a transaction other than a public offering involving the sale of 20% or more of the company's common shares outstanding prior to the transaction for less than the greater of book or market value of the stock. The Company does not follow this rule. Instead, the Company complies with British Columbia corporate and securities laws, which do not require shareholder approval for dilutive events unless the Company were to dispose of all or substantially all of its assets and operations. In addition, Nasdaq rules require shareholder approval of most equity compensation plans and material revisions to such plans, as well as with respect to the sale of the Company's securities at a discount to their market value to an officer, director, employee or consultant. The Company does not follow this rule. Instead, we comply with British Columbia corporate and securities laws, which do not require shareholder approval of equity compensation plans or most discount to market offerings of securities unless otherwise indicated in the company's articles of association. * Compensation Committee. The Company follows home country rules with respect to the composition and responsibilities of its compensation committee. Major Shareholders and Related Party Transactions: * Major Shareholders The following table sets forth certain information as of the Effective Date concerning the beneficial ownership of our common shares for: (i) each person who is the beneficial owner of more than 5% of the issued and outstanding common shares, (ii) each of our directors and executive officers, and (iii) all executive officers and directors as a group. Beneficial ownership has been determined in accordance with the rules of the SEC and is calculated based on the number of common shares issued and outstanding as of the Effective Date but on a post-Reverse Split basis (estimated), or 19,922,381 common shares. Common shares subject to options, warrants, or other securities convertible into or pursuant to which the holder has the right to acquire common shares that are currently exercisable or convertible, or that are exercisable or convertible within 60 days of the Effective Date, are deemed outstanding for computing the percentage of the person holding the option, warrant, or other such security but are not deemed outstanding for computing the percentage of any other person. Under the SEC's rules, a person is deemed to be a "beneficial owner" of a security if that person has or shares "voting power," which includes the power to vote or to direct the voting of such security, or "investment power," which includes the power to dispose of or to direct the disposition of such security. Under these rules, more than one person may be deemed a beneficial owner of the same securities and a person may be deemed to be a beneficial owner of securities as to which such person has no economic interest. Sole voting and investment power with respect to all common shares beneficially owned. Five Percent or Greater Shareholders: * Eniac AI Limited – 4,038,138 shares – 20.27% Consists of 2,019,069 common shares owned of record directly by Eniac AI Limited and 2,019,069 common shares owned of record by Eland Toyar Limited, both of which are 100% owned by Xiaoxu Yang. The address of Eniac AI Limited is Suite 23, 1st Floor, Eden Plaza, Eden Island, Mahe, Republic of Seychelles. * Eland Toyar Limited – 4,038,138 shares – 20.27% Consists of 2,019,069 common shares owned of record directly by Eland Toyar Limited and 2,019,069 common shares owned of record by Eniac AI Limited, both of which are 100% owned by Xiaoxu Yang. The address of Eland Toyar Limited is 28 Traciann Dr, Hamlin, NY 14464. * Bedford Country Limited – 1,682,558 shares – 8.45% Bedford Country Limited is 100% owned by Xi Li. Its address is OMC Chambers, Wickhams Cay 1, Road Town, Tortola, British Virgin Islands, VG1110. * Rakefet LLC – 1,626,478 shares – 8.16% Rakefet LLC is 100% owned by Elana Zacharin, the mother of Aitan Zacharin. Its address is 2311 Falls Gable Ln. E. Baltimore, MD 21209. * Vilna Investments Ventures Limited – 1,626,479 shares – 8.16% Vilna Investments Ventures Limited is 100% owned by Matthew Moshal. Its address is House of Francis, Room 303, LLe Du Port, Mahe, Seychelles. * TechTime Ventures, Ltd – 1,388,110 shares – 6.97% TechTime Ventures Ltd is 100% owned by Dianxiang Wu. Its address is 2/F, Palm Grove House, Port Purcell, Road Town, Tortola, British Virgin Islands, VG1110. * EagleThink Technology Limited – 1,388,110 shares – 6.97% EagleThink Technology Limited is 100% owned by Yuxin He. Its address is Unit 8, 3/F, Qwomar Trading Complex, P.O. Box 3340, Road Town, Tortola, British Virgin Islands, VG1130. * Yukin Wu – 1,177,791 shares – 5.91% The address for Yukun Wu is Room7 04, Block E, Xinjiekou Building, No. 22 Donbin Nanshan District, ShenZhen, China. Directors and officers: * Aitan Zacharin, CEO and Director – 1,626,478 shares – 8.16% Consists of 1,626,483 common shares held by Sapir LLC, which is 100% owned by Mr. Zacharin. Mr. Zacharin's address is 1 Netiv Halamed H, Kibbutz Netiv Halamed H, Israel 9985500. * Gerald Bernstein, CFO – 1 share – less than 1% * Marc Seelenfreund, Director – 588,240 shares – 2.9% Consists of four common shares owned directly and 588,236 common shares that Mr. Seelenfreund has the right to purchase pursuant to a pre-funded common stock purchase option between him and the Company. * Luisa Ingargiola, Director – 0 shares * Thomas Tarala, Director – 0 shares * Mordechai Stenge, Director – 0 shares All directors and officers as a group (6 persons) – 2,214,719 shares – 10.8% Related Party Transactions: Other than as disclosed herein, and except for regular salary and bonus payments, including any equity-based issuances, made to the directors and officers in the ordinary course of business, there have been no transactions since January 1, 2022, or any currently proposed transaction or series of similar transactions, to which the Company was or are to be a party in which the amount involved exceeds $120,000 and in which any of current or former director or officer of the Company, any 5% or greater shareholder of the Company's or any member of the immediate family of any such persons had or will have a direct or indirect material interest. Additional Information: The Company continues to operate its cellular handsets and accessories business and now also operates Core's gaming business through its Core subsidiary. For additional information about Core's business and operations, please see the Company's Form 6-K filed with the SEC on February 26, 2025. The Company previously filed updated financial statements for Core and pro forma financial statements reflecting the combined operations of Siyata Mobile, Inc. and Core. Please see the Company's Form 6-K filed with the SEC on July 10, 2025. Press Release A press release issued by the Company on October 3, 2025 announcing the closing of the Merger, the name change, and the effective date of the Share Consolidation. The press release is available at https://tinyurl.com/vkwebmvu About Siyata Mobile British Columbia, Canada-based Siyata Mobile Inc. is a B2B global developer and vendor of next-generation Push-To-Talk over Cellular handsets and accessories. Its portfolio of rugged PTT handsets and accessories enables first responders and enterprise workers to instantly communicate over a nationwide cellular network of choice, to increase situational awareness and save lives. Police, fire, and ambulance organizations as well as schools, utilities, security companies, hospitals, waste management companies, resorts and many other organizations use Siyata PTT handsets and accessories. As of Dec. 31, 2024, the Company had $14,889,205 in total assets, $10,967,934 in total liabilities, and a total stockholders' equity of $3,921,271. Jerusalem, Israel-based Barzily and Co., the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 31, 2025, citing that the Company has suffered recurring losses from operations, has accumulated significant losses, has an outstanding loan to financial institutions, and has an outstanding balance related to the sale of future receipts, which raise substantial doubt about its ability to continue as a going concern. SKY ROCK: Frances Smith Named Subchapter V Trustee -------------------------------------------------- The U.S. Trustee for Region 6 appointed Frances Smith, Esq., at Ross, Smith & Binford, PC, as Subchapter V trustee for Sky Rock Trucking, LLC. Ms. Smith will be paid an hourly fee of $475 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Smith declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Frances A. Smith, Esq. Ross, Smith & Binford, PC 700 N. Pearl Street, Ste. 1610 Dallas, TX 75201 Phone: 214-593-4976 Fax: 214-377-9409 Email: frances.smith@rsbfirm.com About Sky Rock Trucking LLC Sky Rock Trucking, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Texas Case No. 25-43702) on September 29, 2025, with $500,001 to $1 million in assets and liabilities. Judge Edward L. Morris presides over the case. Robert Thomas DeMarco, Esq., represents the Debtor as legal counsel. SMART INVESTMENT: Section 341(a) Meeting of Creditors on Nov. 13 ---------------------------------------------------------------- On October 6, 2025, Smart Investment Holdings LLC filed Chapter 11 protection in the Southern District of Florida. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. A meeting of creditors under Section 341(a) to be held on November 13, 2025 at 02:30 PM by TELEPHONE. About Smart Investment Holdings LLC Smart Investment Holdings LLC is a limited liability company. Smart Investment Holdings LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-21777) on October 6, 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 David W. Langley, Esq. SOLUNA HOLDINGS: Regains Nasdaq Compliance on Minimum Bid Price --------------------------------------------------------------- Soluna Holdings, Inc. announced that it has received notice from The Nasdaq Stock Market, LLC that the Company has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). To regain compliance with the Listing Rule, the Company's shares were required to maintain a minimum closing bid price of $1.00 for at least 10 consecutive business days, which was achieved on October 2, 2025. As a result, Nasdaq has closed the matter. "We're pleased to have regained compliance and remain focused on executing our strategy and driving long-term shareholder value," said John Belizaire, CEO of Soluna Holdings. "With this milestone behind us, we're continuing to build on our recent momentum and advance our mission to make renewable energy a global superpower, using computing as a catalyst." Soluna is now in full compliance with all Nasdaq continued listing requirements, and the Company's stock remains listed and traded on the Nasdaq Capital Market under the ticker "SLNH." About Soluna Holdings Headquartered in Albany, N.Y., Soluna Holdings, Inc. designs, develops, and operates digital infrastructure that transforms surplus renewable energy into global computing resources. The Company's modular data centers can be co-located with wind, solar, or hydroelectric power plants and support compute-intensive applications, including Bitcoin mining, generative AI, and scientific computing. This approach aids in energizing a greener grid while providing cost-effective and sustainable computing solutions. Albany, N.Y.-based UHY LLP, the Company's auditor since 2021, issued a "going concern" qualification in its report dated March 31, 2025, attached in the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, citing that the Company was in a net loss, has negative working capital, and has significant outstanding debt that raise substantial doubt about its ability to continue as a going concern. As of June 30, 2024, Soluna Holdings had $98.68 million in total assets, $48.74 million in total liabilities, and $49.93 million in total equity. SRX HEALTH: Joshua Epstein Joins Board of Directors --------------------------------------------------- SRx Health Solutions, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Board of Directors appointed Joshua A. Epstein, as a director of the Company, effective immediately, to serve in such capacity until a successor has been elected and qualified, or until his resignation or removal. Mr. Epstein has over 20 years of operational, advisory and investing experience in the energy, technology, healthcare, medical cannabis, blockchain, and gaming sectors, including as an executive, investor, and attorney. Since December 2024, Mr. Epstein has been the head of Corporate Development and on the Board of Managers for Lisbon Valley Mining Co., overseeing all capital markets, M&A, partnership, and other transactional activities for the producing copper mine in Southeast Utah. Formerly, from March 2021 to November 2024, Mr. Epstein was a consultant to JJR Private Capital, a Florida and Toronto-based private equity firm founded in 2003. Previously, Mr. Epstein served as the CEO and Director of Socati Corp., a vertically integrated manufacturer of ingredients and consumer products for global cannabinoid and wellness markets. Prior to Socati, Mr. Epstein served as President and COO of Nuuvera Inc., an international wellness and medical cannabis company founded in 2016 that later listed on the Toronto Stock Exchange–V and sold to Tilray Inc. (NASDAQ: TLRY) (formerly Aphria Inc.) in 2018. Mr. Epstein was previously a Partner with FastForward Innovations Ltd., an early-stage venture capital firm where he oversaw investments and divestitures of the firm's portfolio companies in the United States, Canada, the United Kingdom, Germany, Israel and China. Mr. Epstein began his career as an attorney with the international law firm Baker Botts, LLP, where his practice focused on mergers and acquisitions, venture capital and securities offerings. Mr. Epstein holds a B.A (English, Honors Program) and B.B.A. (Finance) from the University of Texas, a JD from the University of Texas School of Law, where he graduated with Honors and as a member of the Texas Law Review, and an MBA from the Acton School of Business in Austin, Texas, where he was Valedictorian of his class. About SRx Health Solutions, Inc. SRx Health Solutions, Inc. formerly known as Better Choice Company Inc., -- https://srxhealth.com/ -- 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. Tampa, Fla.-based Marcum LLP, the Company's auditor since 2024, 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 Dec. 31, 2024, citing that the Company has incurred significant losses and has an accumulated deficit and may need 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 $15.8 million in total assets, $7.2 million in total liabilities, and a total stockholders' equity of $8.6 million. SRZ MASTER TENANT: Taps McGlinchey Stafford as Special Counsel -------------------------------------------------------------- SRZ Master Tenant, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ McGlinchey Stafford PLLC as special counsel. The firm will advise the Debtor with respect to the adversary proceeding before this Court (Adv. Pro. No. 25 8015-AST), as well as the related discovery and litigation therein, and other litigation matters as warranted or necessary in its case. The firm's hourly rates are: Members and Of Counsel $535 Associates $425 Paralegals $250 In addition, the firm will seek reimbursement for expenses incurred. T. Dylan Reeves, Esq., a member at McGlinchey Stafford, 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: T. Dylan Reeves, Esq. McGlinchey Stafford PLLC 112 West 34th Street Suite 1515 New York, NY 10120 Telephone: (646) 362-4000 Facsimile: (646) 607-4464 About SRZ Master Tenant LLC SRZ Master Tenant LLC is a Delaware-based holding company that previously held leases, as a tenant, with CR Aviv, LLC, Missouri Regency Associates, LLC, and FC Encore Properties B Holdco, LLC. The Debtor subleased these facilities to affiliate entities for operation while managing related receivables. The Debtor is indirectly owned by Goldner Capital Management LLC, an investment firm focused on post-acute healthcare. SRZ Master Tenant LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-70504) on February 6, 2025. In its petition, the Debtor reports estimated assets between $50 million and $100 million and estimated liabilities between $500,000 and $1 million. Honorable Bankruptcy Judge Alan S. Trust handles the case. The Debtor tapped Lamonica Herbst & Maniscalco, LLP as bankruptcy counsel and McGlinchey Stafford PLLC as special counsel. STOLI GROUP: Court Extends Cash Collateral Access to Oct. 24 ------------------------------------------------------------ The U.S. Bankruptcy Court for the Northern District of Texas approved the 11th stipulation allowing Stoli Group (USA), LLC and Kentucky Owl, LLC to continue to use the cash collateral of Fifth Third Bank, National Association. The stipulation extended the Debtors' authority to use the lender's cash collateral from October 3 to 24 to pay the expenses set forth in their latest budget. The Debtors are required to pay the lender $250,000 for its professional fees and expenses. All terms of the final cash collateral order and the first through eighth stipulations and agreed orders remain unchanged except as modified by the ninth stipulation. As of the petition date, the Debtors' aggregate principal outstanding funded debt obligations total approximately $78,374,334.30. Fifth Third Bank holds valid, senior, perfected, and enforceable liens on the collateral, including cash proceeds and other cash equivalents, which constitute the lender's cash collateral. A copy of the court's order and the budget is available at https://shorturl.at/5SoRy from PacerMonitor.com. About Stoli Group (USA) LLC Stoli Group (USA), LLC is a producer, manager, and distributor of a global portfolio of spirits and wines. Stoli Group (USA) and Kentucky Owl, LLC filed Chapter 11 petitions (Bankr. N.D. Texas Lead Case No. 24-80146) on November 27, 2024. At the time of the filing, Stoli Group (USA) reported $100 million to $500 million in assets and $10 million to $50 million in liabilities while Kentucky Owl reported $50 million to $100 million in assets and $50,000,001 to $100 million in liabilities. Judge Scott W. Everett handles the cases. Holland N. O'Neil, Esq., at Foley & Lardner, LLP is the Debtor's legal counsel. Fifth Third Bank, N.A., as lender, is represented by: Brent McIlwain, Esq. Christopher A. Bailey, Esq. Holland & Knight, LLP 1722 Routh Street, Suite 1500 Dallas, TX 75201 Telephone: 214.969.1700 Email: brent.mcilwain@hklaw.com chris.bailey@hklaw.com -- and -- Jeremy M. Downs, Esq. Steven J. Wickman, Esq. Goldberg Kohn, Ltd. 55 East Monroe Street, Suite 3300 Chicago, IL 60603 Telephone: 312.201.4000 Email: jeremy.downs@goldbergkohn.com steven.wickman@goldbergkohn.com STRAWBERRY HILL: Gets Final OK to Use Cash Collateral ----------------------------------------------------- Strawberry Hill Povitica, Inc. received final approval from the U.S. Bankruptcy Court for the District of Kansas, Kansas City, to use cash collateral. The final order extended the Debtor's authority to use cash collateral through December 31 to finance the costs of operations, maintain business relationships, make payroll, and satisfy other working capital and operational needs. Crossfirst Bank, a secured creditor, asserts an interest in the cash collateral, which consists of revenues and proceeds from the Debtor's assets. These assets, including depository accounts, are collateral of Crossfirst Bank. As protection for the Debtor's use of its cash collateral, Crossfirst Bank will be granted replacement security interests in and liens on property acquired by the Debtor after its bankruptcy filing that is similar to the bank's pre-bankruptcy collateral. The replacement liens will have the same property as Crossfirst Bank's pre-bankruptcy liens. In addition to prior payments under earlier orders, the court approved the monthly payment of $7,000 to Crossfirst Bank on October 15 and on November 15; and $47,000 on December 15. In case the replacement liens prove inadequate, Crossfirst Bank will be granted an administrative expense claim, subject to a $55,000 carveout for professional fees and U.S. Trustee fees. About Strawberry Hill Povitica Strawberry Hill Povitica, Inc. is engaged in the retail sale of bakery products in Merriam, Kansas. Strawberry Hill Povitica filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Kan. Case No. 24-20923) on July 2, 2024, listing $519,520 in assets and $2,847,467 in liabilities. Dennis K. O'Leary, president, signed the petition. Judge Dale L Somers presides over the case. The Debtor is represented by: Colin N. Gotham, Esq. Evans & Mullinix, P.A. Tel: 913-962-8700 Email: cgotham@emlawkc.com SUNNOVA ENERGY: Puerto Rico Solar Dealers Object to Bankruptcy Plan ------------------------------------------------------------------- Angelica Serrano-Roman of Bloomberg Law reports that several Puerto Rico solar companies are pushing back against Sunnova Energy's bankruptcy plan, arguing that it disregards millions in unpaid funds from a Department of Energy initiative targeting low-income households. In documents filed in the US Bankruptcy Court for the Southern District of Texas, Windmar Energy, Power Solar, and Integrated Solar Operations allege that Sunnova violated a July 2025 court order by not disbursing $17.4 million owed under the DOE program. The companies say the payments remain outstanding despite repeated demands. The installers contend that Sunnova's restructuring plan offers no clear mechanism to satisfy these debts, heightening fears that the long-delayed payments could be lost entirely in the bankruptcy process, the report states. About Sunnova Energy Sunnova Energy International Inc. (NYSE: NOVA) is an industry-leading adaptive energy services company focused on making clean energy more accessible, reliable, and affordable for homeowners and businesses. Through its adaptive energy platform, Sunnova provides a better energy service at a better price to deliver its mission of powering energy independence. Sunnova Energy sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90160) on June 8, 2025. In its petition, the Debto reports estimated assets and liabilities between $10 billion and $50 billion each. The Debtor is represented by Jason Gary Cohen, Esq. at Bracewell LLP. SUNNY EXPRESS: Natasha Songonuga Named Subchapter V Trustee ----------------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Natasha Songonuga, Esq., at VTrustee, LLC as Subchapter V trustee for Sunny Express, LLC. Ms. Songonuga will be paid an hourly fee of $450 for her services as Subchapter V trustee and will receive reimbursement for work related expenses incurred. Ms. Songonuga declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Natasha Songonuga, Esq. VTrustee LLC PO Box 841 Wilmington, DE 19899 Email: Nsongonuga@VTrusteellc.com About Sunny Express LLC Sunny Express, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-20183) on September 29, 2025, with $50,001 to $100,000 in assets and $100,001 to $500,000 in liabilities. Judge Mark Edward Hall presides over the case. Jenee K. Ciccarelli, Esq. at Wenarsky and Goldstein, LLC represents the Debtor as legal counsel. TACTICAL TOWING: Steven Wallace Named Subchapter V Trustee ---------------------------------------------------------- The Acting U.S. Trustee for Region 13 appointed Steven Wallace as Subchapter V trustee for Tactical Towing & Recovery, Inc. Mr. Wallace will be paid an hourly fee of $325 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Wallace declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Steven M. Wallace Goldenberg Heller & Antognoli P.C. 2227 South State Route 157 Edwardsville, Illinois 62025 Telephone: (618) 656-5150 Facsimile: (618) 656-6230 Email: steven@ghalaw.com About Tactical Towing & Recovery Inc. Tactical Towing & Recovery, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Ill. Case No. 25-30751) on September 30, 2025, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Mary E. Lopinot presides over the case. Jerry D. Graham, Jr., Esq., at Jd Graham, PC represents the Debtor as legal counsel. TARO INVESTMENT: Court Orders Auction of Brick House Farms ---------------------------------------------------------- The United States Bankruptcy Court for the District of Maryland has approved the sale of all assets of Taro Investment Corporation at an online auction with bidding to begin on Wednesday, November 12 and concluding on Tuesday, November 18. The property is located in Howard County at 4649 Sheppard Lane and includes a 20,000+/- sq. ft. light industrial building serving as a former operating natural alkaline springs water bottling plant. The property also consists of a 19th century main house and barns registered with the Maryland Historical Trust (MHT) and features streams, ponds, pastures, run-ins, round pen and modern stable including workshop. The website www.TaroAuction.com provides all pertinent information for the auction including the Bid Package with required steps to become a "Qualified Bidder", Court Ordered Bidding Procedures, FAQ's, title abstract, tests and reports pertaining to the natural alkaline springs, local demographic information, important dates and more. The website also contains contact information for SVN | Miller Commercial, the local headquarter broker for specific property questions and property tours. A 1.5% Broker Cooperation Fee is available to licensed real estate brokers who comply with the courts broker | client registration process. SVN Auction Services National Director, Louis B. Fisher III states "The Court Ordered Auction will provide the winning bidder clear and marketable title with the property being offered and sold to the highest bidder subject to all terms and bidding procedures." Fisher further stated "The property presents a potential opportunity to re-establish and revive the natural alkaline springs bottling plant and operations or a restored estate, working horse farm or other agricultural uses." SVN Auction Team members are fully integrated with SVN International and the 1,200 plus member advisors. Collectively, the team boasts more than 100 years of experience in planning, orchestrating and conducting successful auctions and sealed bid sales throughout North America, Mexico, Puerto Rico, and the U.S. Virgin Islands. All SVN Offices Independently owned and operated. CONTACT: Louis B. Fisher III, CAI SVN Auction Services, LLC Phone: (954) 931-0592 E-mail: fisherl@svn.com About Taro Investment Corporation Ellicott City, Maryland-based Taro Investment Corporation is engaged in the business of bottled water manufacturing. Taro Investment Corp. filed its voluntary petition for Chapter 11 protection (Bankr. D. Md. Case No. 24-13539) on April 26, 2024, listing $2,146,200 in assets and $2,159,165 in liabilities. Meghan McCulloch, Personal Representative of Estate of Thomas Taro Sr., authorized representative of the Debtor, signed the petition. Ronald L. Schwartz, Esq. serves as the Debtor's legal counsel. TENNESSEE CREDIT: Seeks to Tap Sweat Law Firm as Special Counsel ---------------------------------------------------------------- Tennessee Credit Management, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Mississippi to employ Sweat Law Firm as special counsel. The Debtor needs a special counsel in certain collection actions that require the filing of a civil lawsuit and eventual garnishment. The Debtor does not pay the firm any attorney fees. Thomas Sweat Jr., Esq., an attorney at the firm, disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Thomas L. Sweat Jr., Esq. Sweat Law Firm 614 Bunch Street Corinth, MI 38834 About Tennessee Credit Management Tennessee Credit Management, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Miss. Case No. 25-12603) on August 14, 2025, with $500,001 to $1 million in assets and liabilities. Judge Selene D. Maddox presides over the case. Christopher J. Steiskal, Sr., Esq., represents the Debtor as counsel. TERAWULF INC: S&P Assigns 'BB-' ICR, Outlook Positive ----------------------------------------------------- S&P Global Ratings assigned our 'BB-' issuer credit rating to TeraWulf Inc., which reflects the strong contractual framework that will support high earnings visibility upon lease commencement, partly offset by construction risk. S&P said, "At the same time, we assigned our 'BB' issue-level rating to the Senior Secured Amortizing Notes issued by WULF Compute LLC; the '2' recovery rating reflects our expectation for substantial (70%-90%; rounded estimate: 80%) recovery in a default scenario. "The positive outlook reflects that we could raise the rating if the Akela data centers are successfully built on-time." Earnings visibility will be high upon lease commencement. The company has a strong pre-leased contractual framework in place with a high-quality tenant backstop from Google LLC. There's also a 3% annual escalator and modified gross-lease structure, in which power costs are a direct tenant expense. This allows for stable and predictable revenue, earnings, and cash flow. The lease agreements are 10 years, with two five-year renewal options. If Fluidstack USA I Inc. (a Google-backed AI cloud platform and Akela's sole tenant) terminates the lease early, Google would either assume the lease or pay an early termination fee of up to $3.2 billion, with an amortization schedule that matches the proposed debt amount. The termination fee option is only available after six years or if the installed IT load is less than 50% of baseline capacity. Construction risk appears manageable. S&P believes there are several construction risk mitigants, including the project essentiality to the tenant, the relatively low construction complexity, contingencies built into the project budget, and likely access to capital to fund cost overruns. Importantly, the project appears to have a high degree of strategic importance to the tenant and its partner, Google. There is an alignment of incentives, with Google owning warrants in TeraWulf representing about 14% of the company (about $1 billion), and this equity value hinges largely on successful project completion. Furthermore, the data center market is supply-constrained, with readily available access to low-cost power serving as a barrier to entry. Therefore, S&P believes these factors could make it less likely the tenant will exercise its termination rights if there were delays that allow for this option. S&P thinks it would only do so if its business strategy shifts significantly over the next year and demand for the planned AI chips to be placed in the facility diminishes. Furthermore, data center construction complexity is typically low compared with other asset classes. The company plans to build CB-3 (42 MW) and CB-4 (162 MW) in 12 months and CB-5 (162 MW) in 16 months. This may appear to be a somewhat accelerated timeline, but long-lead critical equipment items have already been procured. The design also includes electrical containers that will house the UPS and switchboards. This will be manufactured off-site to allow for plug-and-play installation at the site, as all Level 3 and 4 commissioning will be done at the factory. The projects also have a six-month buffer to planned completion dates in the schedule before the tenant has termination rights and roughly 90 days before there are material penalties (in the form of future bill credits). While these facilities are larger than CB-1 (16 MW), that facility was built in about eight months. In terms of cost, the company has built a roughly 11.5% contingency into its construction budget for the Akela data centers to account for cost overruns. S&P said, "We estimate there's roughly $200 million in excess liquidity at the parent to account for budget overages (including contingencies), representing about 6% of the total Akela project construction costs. If the project runs over budget, there is a parent completion guarantee from TeraWulf Inc., which had an equity market cap of about $5.0 billion as of Oct. 6, 2025, that is heavily correlated with the project completion. Therefore, we believe the company could likely access capital to fund cost overruns, provided the project timeline is on track and the risk of tenant termination remains low." Still, project execution risk is a constraint to the rating to some degree. The tenant has the right to terminate the lease if it's delivered more than 180 days late. This is a material credit risk considering that operating cash flow is limited and the data centers being constructed account for the vast majority of TeraWulf's projected earnings. Data center construction can be delayed by supply-chain issues for critical components including power and cooling equipment, labor shortages in skilled trades, permitting delays, scheduling complexities, and weather. Furthermore, the company has a more limited track record than larger data center peers, and CB-4 and CB-5 are significantly larger than the successfully completed Wulf Den and CB-1 facilities. S&P captures this risk within our business risk assessment, limiting it to fair during construction. The data centers are designed to be of high quality. The facilities are designed to have a maximum power-usage efficiency (PUE) ratio of less than 1.25, which allows for efficient operations, with most power allocated to run IT equipment. The buildings will have closed-loop liquid cooling systems that are well suited for power-hungry AI equipment. They will also have resiliency built in from dual 345-kV transmission lines delivering redundant feeds from separate grid sources. The facilities are designed to be concurrently maintainable to meet the equivalent of the Uptime Institute's Tier 3 standards, which guarantee 99.982% uptime. Furthermore, power at the Lake Mariner site is relatively low cost, with low-latency fiber connections to New York City, Toronto, and Boston. S&P believes these factors contribute to good re-leasing prospects in the current supply-constrained market, which would only apply in a downside lease-termination scenario. Diversification is limited, and there's long-term releasing risk. TeraWulf has significant tenant, contract, and market concentrations. This exposes it to low-probability idiosyncratic risks such as casualty events that damage or destroy facilities. The re-leasing risk isn't an immediate credit concern given the long-term nature of the contracts, but it could come into sharper focus as lease maturities approach. It's difficult to predict how supply/demand dynamics will develop over the longer term. However, there's potential for pricing pressure or vacancy, particularly given the size of the facility and more limited depth and breadth of tenants in Western New York compared with those in primary data center markets, such as Northern Virginia. S&P said, "We view the financial risk as aggressive. Initially, credit metrics will be very weak, reflecting a brownfield project funded with debt, with minimal operating cash flow through construction. However, the heavy upfront investment will be followed by periods of high earnings visibility, supported by reliable contractual offtake agreements, such that we apply more weight to the projected ratios in 2027-2029. Furthermore, digital infrastructure companies typically pay significant debt-service costs due to their stable cash flows and ability to support higher debt loads; therefore, funds from operations (FFO) to debt is an important measure of the company's cash flow/leverage and ability to service debt. We expect this ratio to be about 10% in 2027, approaching the mid-teens percentages by 2029 due to required debt amortization and moderate earnings growth. "We believe further expansion is likely. The company recently entered into an 80-year ground-lease agreement in Lansing, N.Y., for the site known as Cayuga. There is access for 138 MW of low-cost power available in 2027, scalable to 400 MW. The company has indicated it expects 150 MW-200 MW of new deployments annually, though no other leases have yet been signed. Therefore, we believe credit metrics could differ from our base case, as the timing and funding around new construction is uncertain. "The positive outlook reflects that we could raise the rating upon lease commencement given the strong contractual framework and good earnings visibility. "We could lower the rating if construction is delayed meaningfully. We could lower it by more than one notch if we believe the probability of the tenant terminating its lease agreement has risen or if liquidity becomes more constrained during construction. "We could raise the rating if TeraWulf completes the construction of La Lupa and Akela data centers on time, making it more certain that FFO to debt will rise above 9% and EBITDA interest coverage will be more than 1.75x in 2027." TJ TRUCKING: Court Extends Cash Collateral Access to Nov. 14 ------------------------------------------------------------ The U.S. Bankruptcy Court for the Northern District of Ohio issued a third interim order authorizing T.J. Trucking Enterprises, LLC to continue using cash collateral through November 14. The third interim order authorized the Debtor to use the cash collateral of Transportation Alliance Bank to pay the expenses listed in its budget, with a 20% variance per line item and 15% overall. As adequate protection, Transportation Alliance Bank will be granted a post-petition perfected security interest in the Debtor's property to the same extent and with the same priority as the bank held on a pre-petition basis in the property. In addition, the bank will continue to receive a monthly payment of $8,161.42 as further protection. T.J. Trucking must also maintain property insurance, pay taxes, and properly account for all cash usage. The authority to use cash collateral continues until the earlier of case conversion, dismissal, unauthorized use, or November 14, 2025. The next hearing is scheduled for November 6. About TJ Trucking Enterprises TJ Trucking Enterprises, LLC is a Toledo, Ohio-based freight trucking company operating a fleet of semi-trucks including Mack Anthems, Volvo VNL860s, and Freightliner Cascadias. TJ Trucking Enterprises sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ohio Case No. 25-31433) on July 11, 2025. In its petition, the Debtor reported estimated assets and liabilities between $1 million and $10 million. Judge John P. Gustafson handles the case. Eric R. Neuman, Esq., at Diller & Rice is the Debtor's legal counsel. Transportation Alliance Bank, as secured creditor, is represented by: John P. Murray, Esq. McGlinchey Stafford 3401 Tuttle Road, Suite 200 Cleveland, OH 44122 Phone: (216) 455-5073 Fax: (216) 803-8891 jmurray@mcglinchey.com TRICOLOR AUTO: Court Authorizes Vervent as Successor Servicer ------------------------------------------------------------- The Bankruptcy Court issued an order to authorize Vervent, Inc. to assume the role of successor servicer on September 19, 2025. The order also permits Vervent to access and use funds held in the servicer's collection accounts to cover servicing and transition costs and to transfer funds into new accounts it establishes for ongoing operations. Vervent may only use funds from these accounts with the prior written approval of Wilmington Trust, N.A. and certain other creditors. The order is expiring on October 17, 2025, and a hearing on the potential extension or termination will be held on October 15, 2025. Vervent, as successor servicer, is in the process of onboarding, mapping and reconciling data. As the process is ongoing, a servicer report for the month of September is not likely to be available on October 15, 2025. On October 6, 2025, the Bankruptcy Court further authorized the bankruptcy trustee to operate Tricolor Auto Acceptance, LLC's business until January 9, 2026. KBRA Comments on Ongoing Servicing Transition for Tricolor Auto Securitizations: KBRA downgraded and maintained its Watch Downgrade Placements on all 34 outstanding ratings from seven Tricolor Auto Securitization Trust (TAST) transactions. KBRA will continue to monitor the performance of the transactions as it relates to KBRA's outstanding ratings and will seek to resolve or update the Watch Placements in due course. While KBRA was able to speak to representatives of the successor servicer and the indenture trustee, these parties were only able to share limited information with KBRA. If KBRA continues to not receive sufficient information to allow KBRA to maintain ratings on the transactions, KBRA may withdraw such ratings. Recent Publication -- KBRA Downgrades All Outstanding TAST Ratings and Maintains Watch Downgrade About KBRA KBRA, one of the major credit rating agencies, is registered in the U.S., EU, and the UK. KBRA is recognized as a Qualified Rating Agency in Taiwan, and is also a Designated Rating Organization for structured finance ratings in Canada. As a full-service credit rating agency, investors can use KBRA ratings for regulatory capital purposes in multiple jurisdictions. About Tricolor Auto Acceptance Tricolor Auto Acceptance is an Irving, Texas-based subprime auto lender. Tricolor Auto Acceptance, together with its parent Tricolor Auto Group and other affilites sought relief under Chapter 7 of the U.S. Bankruptcy Code(Bankr. N.D. Tex. Case No. 25-33497) on September 10, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 billion and $10 billion each. The Debtor is represented by Thomas Robert Califano, Esq. at Sidley Austin LLP. TRINSEO PLC: Moves to Restructure MMA Operations in Italy --------------------------------------------------------- Trinseo PLC disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Management Team of the Company, upon authorization from the Company's Board of Directors, approved a Restructuring Plan to permanently close its methyl methacrylate (MMA) production operations in Rho, Italy and its acetone cyanohydrin (ACH) production operations in Porto Marghera, Italy. The MMA Restructuring Plan is intended to streamline the Company's MMA production network and exit underperforming assets. Moving forward, the Company will source all MMA feedstock from third-party producers. The Company expects to record total pre-tax restructuring charges of $80 million to $100 million, principally comprised of $3 million to $6 million of employee-related costs, $40 million to $46 million of asset-related charges and $37 million to $48 million related to exiting production activities, including contract terminations, demolition and decommissioning. The anticipated future cash payments associated with these charges are expected to be approximately $40 million to $50 million with substantially all payments expected to be made by the end of 2028. The Company expects the MMA Restructuring Plan actions to commence in the fourth quarter of 2025 and be completed by the end of 2026, subject to the satisfaction of local law requirements. However, the actual timing and costs of the MMA Restructuring Plan may differ from the Company's current expectations and estimates and such differences may be material since these charges are subject to ongoing negotiations with works councils, industrial associations and government authorities. The Company estimates that the MMA Restructuring Plan initiatives will deliver approximately $20 million of annualized profitability improvement beginning in 2026. A copy of the Company's press release announcing the MMA Restructuring Plan is available at https://tinyurl.com/yc63mk4h 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. As of June 30, 2025, the Company had $2.63 billion in total assets, $3.38 billion in total liabilities, and $750 million in total stockholders' equity. * * * 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. TZADIK SIOUX: Claims to be Paid from Available Cash & Sale Proceeds ------------------------------------------------------------------- Tzadik Sioux Falls Portfolio I, LLC and affiliates filed with the U.S. Bankruptcy Court for the Southern District of Florida a Disclosure Statement for Joint Plan of Reorganization dated October 6, 2025. TSF Portfolio I, Garden Villas, Hidden Hills, Rapid City, TSF I, and Taylor's Place each are limited liability companies that own and rent multifamily rental properties located in South Dakota (each, a "Property", and collectively, the "Properties"). TMG is a limited liability company that holds a membership interest in TSF Portfolio I and other affiliated non-debtor entities. The Debtors day-to-day operations are carried out by Tzadik Properties, LLC ("TSF Management"), an affiliated non debtor management entity. TSF Management primarily carries out leasing, maintenance, and operations of each of the Properties for the Debtors. The Debtors commenced the Chapter 11 Case with an intention to satisfy secured claims through the sales of property leaving significantly deleveraged reorganized Debtors and their going concern operations intact (the "Reorganization"). As part of the Reorganization, the Plan provides for the continuation of the Debtors' sale efforts through and including December 31, 2025. If such sale efforts are not successful, Debtors will transfer certain properties to their secured lenders in full and final satisfaction of all secured claims. Under Plan A, the Debtors have subdivided their marketing efforts for three property portfolios of properties with different marketing and sales target milestones. The three portfolios of properties are referred to herein as the "Rosewood Portfolio", "605 Portfolio", and "Remax Portfolio." If the Debtors are unsuccessful in selling Properties of sufficient value to satisfy secured claims in full through the expedited sale processes, then the Debtors will transfer specific properties identified herein to their secured creditors in satisfaction of all secured claims on or before January 31, 2026 ("Plan B") unless there is a pending sale of real property that has a reasonable chance of closing, in the Debtors' sole discretion, requiring additional time for closing (the "Sale Caveat"). The two types of transactions for which the Debtors are soliciting private sales are: * "Sale Transaction" meaning, a sale of a portfolio of the Debtors' assets excluding any Property or Properties sold pursuant to an Asset Sale Transaction. * "Asset Sale Transaction" meaning, the sale of a single parcel of debtor real estate, other than a Sale Transaction. Class 1(F) consists of General Unsecured Claims against TSF Portfolio I. Except to the extent that a holder of an Allowed General Unsecured Claim agrees to different treatment, on or before February 27, 2026 in full and final satisfaction of all Allowed Class 1(F) Claims, TSF Portfolio I shall commence payments in the total amount of Allowed Class 1(F) General Unsecured Claims in the amount of $11,287.15 commencing on the Effective Date and paid on a quarterly basis for a period of 5 years. On or before the date that is 5 years after the Effective Date, TSF Portfolio shall pay the balance of the Allowed Class 1(F) claim in its entirety through a Refinancing Transaction. TSF Portfolio I reserves the right to pay any balance of the Class 1(E) General Unsecured Claims in full without penalty of any kind. Class 1(F) is Impaired. Class 2(E) consists of General Unsecured Claims against TSF I. Except to the extent that a holder of an Allowed General Unsecured Claim agrees to different treatment, on or before February 27, 2026 in full and final satisfaction of all Allowed Class 2(E) Claims, TSF Portfolio I shall commence payments in the total amount of Allowed Class 2(E) General Unsecured Claims on a quarterly basis until paid in full. TSF Portfolio I reserves the right to pay any balance of the Class 2(E) General Unsecured Claims in full without penalty of any kind. Class 2(E) is Impaired. Class 3(F) consists of General Unsecured Claims against TSF Portfolio III. Except to the extent that a holder of an Allowed General Unsecured Claim agrees to different treatment, on or before February 27, 2026 in full and final satisfaction of all Allowed Class 3(F) Claims, TSF Portfolio III shall commence payments in the amount of $500 on the Effective Date on a quarterly basis for a period of 5 years. On or before the date that is 5 years after the Effective Date, TSF Portfolio III shall pay the balance of the Allowed Class 3(F) claim in its entirety, through a Refinancing Transaction. TSF Portfolio I reserves the right to pay any balance of the Class 3(F) General Unsecured Claims in full without penalty of any kind. Class 3(F) is Impaired. Class 4(D) consists of General Unsecured Claims against Taylor’s Place. * Plan A: Except to the extent that a holder of an Allowed Class 4(D) General Unsecured Claim agrees to different treatment, on or before the Effective Date, Class 4(D) Claims will be paid in full from the Four Pack Junior Pool after the satisfaction of all Class 4(A)(B)(C), 5(A)(B)(C), 6(A)(B)(C), 7(A)(B)(C) claims until all such Class4(D) claims are paid in full; * Plan B: Except to the extent that a holder of an Allowed Class 4(D) Secured Claim agrees to different treatment, to the extent Class 4(D) Claims have not been satisfied by payment of distributions from the Four Pack Junior Pool, on or before February 27, 2026 in full and final satisfaction of all Allowed Class 4(D) Claims, the Debtors within the Four Pack that retain property shall commence payments in the amount of $5,000 on the Effective Date on a quarterly basis for a period of 5 years. On or before the date that is 5 years after the Effective Date, Debtors within the Four Pack shall pay the balance of the Allowed Class 4(D) claim in its entirety. Debtors within the Four Pack reserve the right to pay any balance of the Class 4(D) Claims in full, at any time without penalty of any kind. Class 5(D) consists of General Unsecured Claims against Garden Villas. * Plan A: Except to the extent that a holder of an Allowed Class 5(D) General Unsecured Claim agrees to different treatment, on or before the Effective Date, Class 5(D) Claims will be paid in full from the Four Pack Junior Pool after the satisfaction of all Class 4(A)(B)(C), 5(A)(B)(C), 6(A)(B)(C), 7(A)(B)(C) claims until all such Class 4(D) claims are paid in full; * Plan B: Except to the extent that a holder of an Allowed Class 5(D) Secured Claim agrees to different treatment, to the extent Class 5(D) Claims have not been satisfied by payment of distributions from the Four Pack Junior Pool, on or before February 27, 2026 in full and final satisfaction of all Allowed Class 5(D) Claims, the Debtors within the Four Pack that retain property shall commence payments in the amount of $5,000 on the Effective Date on a quarterly basis for a period of 5 years. On or before the date that is 5 years after the Effective Date, Debtors within the Four Pack shall pay the balance of the Allowed Class 5(D) claim in its entirety. Debtors within the Four Pack reserve the right to pay any balance of the Class 5(D) Claims in full, at any time without penalty of any kind. Class 6(D) consists of General Unsecured Claims against Hidden Hills. * Plan A: Except to the extent that a holder of an Allowed Class 6(D) General Unsecured Claim agrees to different treatment, on or before the Effective Date, Class 6(D) Claims will be paid in full from the Four Pack Junior Pool after the satisfaction of all Class 4(A)(B)(C), 5(A)(B)(C), 6(A)(B)(C), 7(A)(B)(C) claims until all such Class 6(D) claims are paid in full; * Plan B: Except to the extent that a holder of an Allowed Class 6(D) Secured Claim agrees to different treatment, to the extent Class 6(D) Claims have not been satisfied by payment of distributions from the Four Pack Junior Pool, on or before February 27, 2026 in full and final satisfaction of all Allowed Class 6(D) Claims, the Debtors within the Four Pack that retain property shall commence payments in the amount of $5,000 on the Effective Date on a quarterly basis for a period of 5 years. On or before the date that is 5 years after the Effective Date, Debtors within the Four Pack shall pay the balance of the Allowed Class 4(D) claim in its entirety. Debtors within the Four Pack reserve the right to pay any balance of the Class 4(D) Claims in full, at any time without penalty of any kind. Class 7(E) consists of General Unsecured Claims against Rapid City. * Plan A: Except to the extent that a holder of an Allowed Class 7(E) General Unsecured Claim agrees to different treatment, on or before the Effective Date, Class 7(E) Claims will be paid in full from the Four Pack Junior Pool after the satisfaction of all Class 4(A)(B)(C), 5(A)(B)(C), 6(A)(B)(C), 7(A)(B)(C)(D) claims until all such Class 7(E) claims are paid in full; * Plan B: Except to the extent that a holder of an Allowed Class 7(E) Secured Claim agrees to different treatment, to the extent Class 7(E) Claims have not been satisfied by payment of distributions from the Four Pack Junior Pool, on or before February 27, 2026 in full and final satisfaction of all Allowed Class 7(E) Claims, the Debtors within the Four Pack that retain property shall commence payments in the amount of $5,000 on the Effective Date on a quarterly basis for a period of 5 years. On or before the date that is 5 years after the Effective Date, Debtors within the Four Pack shall pay the balance of the Allowed Class 7(E) claim in its entirety. Debtors within the Four Pack reserve the right to pay any balance of the Class 7(E) Claims in full, at any time without penalty of any kind. Class 8(A) consists of the General Unsecured Claims against TMG. All Allowed Class 8(A) claims shall be satisfied in full as provided in Classes 1, 2, 3, 4, 5, 6 or 7, and shall not receive a distribution from TMG. Class 8(A) is Unimpaired. The Plan is being proposed as a joint plan of reorganization of the Debtors for administrative purposes only and constitutes a separate Chapter 11 Plan of Reorganization for each of the Debtors. The Plan is not premised upon the substantive consolidation of the Debtors with respect to the Classes of Claims or Interests set forth in the Plan. Notwithstanding the foregoing, certain overlapping or cross-collateralized classes of claims against Debtors within the Four Pack are treated substantially simultaneously under the Plan. Following the Effective Date, under Plan A, the Debtors would have satisfied all secured claims of creditors and shall maintain certain properties to pay junior claims through operating revenues and an anticipated refinance to occur during the 5-year plan period. The Debtors shall fund distributions and satisfy applicable Allowed Claims and Allowed Interests under the Plan using Cash on hand and the net proceeds of the Restructuring Transactions (which includes the net proceeds from any proceeds of a sale transaction, and, if applicable, the proceeds of an Asset Sale Transaction), transfers of property in satisfaction of secured claims and anticipated refinancing proceeds. A full-text copy of the Disclosure Statement dated October 6, 2025 is available at https://urlcurt.com/u?l=71fBgM from PacerMonitor.com at no charge. Counsel for the Debtors: Morgan Edelboim, Esq. Brett D. Lieberman, Esq. Edelboim Lieberman Revah PLLC 20200 W. Dixie Highway, Suite 905 Aventura, FL 33180 Tel: (305) 768-9909 Fax: (305) 928-1114 Email: morgan@elrolaw.com About Tzadik Sioux Falls Portfolio I LLC Tzadik Sioux Falls Portfolio I, LLC possesses several multi-family properties in Sioux Falls, SD. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-13865) on April 9, 2025. In the petition signed by Adam Hendry, authorized representative, the Debtor disclosed $65 million in assets and $46.775 million in liabilities. Judge Peter D. Russin oversees the case. Morgan Edelboim, Esq., at Edelboim Lieberman, PLLC, is the Debtor's legal counsel. Fannie Mae, as secured lender, is represented by: Alexis A. Leventhal, Esq. Keith Aurzada, Esq. Jay Krystinik, Esq. Devan Dal Col, Esq. Reed Smith, LLP 1001 Brickell Bay Drive, Suite 900 Miami, FL 33131 Phone: 786-747-0247 aleventhal@reedsmith.com kaurzada@reedsmith.com jkrystinik@reedsmith.com ddalcol@reedsmith.com Merchants Bank of Indiana, as secured lender, is represented by: Scott N. Brown, Esq. Bast Amron, LLP One Southeast Third Avenue, Suite 2410 Miami, FL 33131 Telephone: 305.379.7904 sbrown@bastamron.com UNITED PROPERTY: Seeks to Tap Grobstein Teeple as Financial Advisor ------------------------------------------------------------------- United Property Maintenance Corporation, doing business as California Construction Superior, seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Grobstein Teeple LLP as financial advisor. The firm render these services: (a) obtain and evaluate financial records; (b) evaluate assets and liabilities of the Debtor and estate; (c) evaluate tax issues related to the Debtor and estate; (d) assist with tax compliance issues; (e) assist with the preparation of a plan and disclosure statement; (f) provide tax and tax consulting services; (g) provide valuation services as required; (h) provide litigation consulting if required; and (i) provide accounting and consulting services requested by the Debtor and its counsel. The firm will be paid at these hourly rates: Howard Gribstein, Partner $700 Joshua Teeple, Partner $600 Benjamin Howard, Partner $595 Kurt Stake, Partner $595 Andrew McBride, Partner $575 Tony Alfonso, Partner $550 Kermith Boffil, Partner $550 Erik Rasmussen, Partner $550 Kailey Wright, Partner $495 William Thomsen, Manager $485 Dimple Mehra, Partner $475 Silva Chamichyan, Partner $450 Eddie Shamas, Partner $425 Steven Roopenian, Partner $400 Michael McCarthy, Manager $385 Wes Elair, Manager $350 Tony Medina, Manager $350 Josephine Frias, Manager $330 Tatevik Torossian, Manager $325 Kevin Meacham, Professional $325 Lin Pei-Wen, Professional $325 Brian Siegel, Professional $300 David Tsaruryan, Professional $285 Nicholas Cooper, Professional $275 Ryusei Kent, Professional $275 Matt Ciezcak, Professional $250 Breanna McCallum, Professional $250 Tracey Muga, Professional $250 Brooke Borba, Paralegal $200 Wendi Carranza, Paralegal $200 Kunpeng Qin, Professional $225 Clara Galarza, Paralegal $175 Aaron Grobstein, Professional $145 Liyona Pourmehr, Professional $115 Dina Cortez, Paralegal $115 Shelly Harris, Paralegal $105 Taylor Labuschagne, Paralegal $100 Sophia Lee, Paralegal $175 Lola Maurier, Paralegal $95 Claudia Nino, Paralegal $115 Lynn Rice, Paralegal $200 Denise Weiss, Paralegal $185 Ken Zerehi, Paralegal $185 The firm received a pre-petition retainer of $13,000 from the Debtor. Mr. Teeple 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: Joshua R. Teeple, CPA Grobstein Teeple LLP 23832 Rickfield Boulevard, Suite 245 Lake Forest, CA 92630 Telephone: (949) 381-5655 Facsimile: (949) 381-5665 Email: jteeple@gtllp.com About United Property Maintenance United Property Maintenance Corporation, doing business as California Construction Superior, provides residential and commercial water damage restoration services in San Diego County, California. The Company offers 24/7 emergency flood response, water extraction, drying, mold prevention, and full-service rebuilding of damaged areas including drywall, paint, and cabinetry. Its operations include certified technicians, insurance consultations, and the use of specialized equipment and virtual project tracking technology. United Property Maintenance Corporation sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-12226) on August 11, 2025. In its petition, the Debtor reports total assets of $470,779 and total liabilities of $2,271,035. Honorable Bankruptcy Judge Mark D. Houle handles the case. The Debtor tapped David A. Wood, Esq., at Marshack Hays Wood LLP as counsel and Grobstein Teeple LLP as financial advisor. UNIVERSAL DESIGN: Gets Extension to Access Cash Collateral ---------------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville Division, issued its third interim order allowing Universal Design Solutions, LLC to continue to use cash collateral. The third interim order signed by Judge Jason Burgess authorized the Debtor to use cash collateral to pay the amounts expressly authorized by the court, including payments to the U.S. trustee for quarterly fees; and the expenses set forth in its budget. This authorization will continue until further hearing on the Debtor's bid to use cash collateral. The Debtor projects total operational expenses of $28,295 for the period from October 1 to November 2. As protection for the Debtor's use of its cash collateral, TD Bank, N.A. will have a perfected post-petition lien on such collateral, with the same validity, priority and extent as its pre-bankruptcy lien. The next hearing is scheduled for October 29. About Universal Design Solutions Universal Design Solutions, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-01970) with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Hon. Jason A Burgess oversees the case. Thomas C. Adam, Esq., at Adam Law Group, P.A. is the Debtor's bankruptcy counsel. TD Bank, N.A., as lender, is represented by: Amanda Klopp, Esq. Akerman LLP 777 South Flagler Drive Suite 1100, West Tower West Palm Beach, FL 33401 Telephone (561) 653-5000 Facsimile (561) 659-6313 amanda.klopp@akerman.com USA CRICKET: Mark Dennis of SL Biggs Named Subchapter V Trustee --------------------------------------------------------------- The Acting U.S. Trustee for Region 19 appointed Mark Dennis, a certified public accountant at SL Biggs, as Subchapter V trustee for USA Cricket. Mr. Dennis will be paid an hourly fee of $475 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Dennis declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Mark D. Dennis, CPA SL Biggs, A Division of SingerLewak, LLP 2000 S. Colorado Blvd., Tower 2, Ste. 200 Denver, CO 80222 Phone: 303-226-5471 Email: mdennis@slbiggs.com About USA Cricket USA Cricket filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Colo. Case No. 25-16381) on October 1, 2025, listing between $100,001 and $500,000 in assets and between $500,001 and $1 million in assets. The Debtor tapped Black Lion Services, PLLC as legal counsel. USA STAFFING: Amends Unsecured Claims Pay Details ------------------------------------------------- USA Staffing Services, LLC and affiliates submitted an Amended Joint Disclosure Statement for the Joint Plan of Reorganization dated October 6, 2025. The Plan will be funded from income from continued business operations of the USA Debtor, from a substantial contribution from Matthew Kolinski, and from the liquidation of the SMG and MK Ultra Debtors. Post-petition the Debtors have complied with all requirements of Chapter 11 debtors or sought appropriate relief from the Bankruptcy Court to excuse compliance. The Debtors have worked collaboratively with RevCap and Change Capital to utilize cash collateral during the case. The Debtors' post petition performance has increased. The Debtor has continued to focus on growing new business revenue streams through its broker-based model called the Staffing Agent program and it has increased the volume of Temporary Workers on assignment as a result of its sales efforts. During the month of September, it had an average of 345 workers on payroll each week with a peak of about 446 employees. The assignments continue to be short-lived temporary assignments but the ability to fill the orders and bring on new customers continues to be the priority. There has overall been a positive trend with new opportunities and the entire team is focused on maximizing every opportunity to grow the revenue in a profitable manner. The Debtors' plan asks the USA creditors to continue to operate the business for the benefit of creditors while proposing a plan that pays some, but not all, unsecured claims in full with a substantial contribution by Mr. Kolinski. To the extent the Debtors' creditors do not agree, the Debtors will put their consolidated business structure on the market and will sell the USA enterprise in a fair value, arms' length sale. The Debtors' insiders would be interested in bidding in an arms’ length sale and believe that to the extent creditors do not wish to receive some recovery through a five-year plan of reorganization, the Debtors' liquidation value would not be sufficient to pay unsecured creditors. Class 9 consists of Allowed General Unsecured Creditors for USA of approximately $810,000, plus the unsecured portion of Change Capital's claim and Alliance's $2 million claim to the extent allowed. Each holder of an allowed Class 9 claim will receive its share of USA’s Proposed Plan Payments after payment of secured claims, over the five-year plan period in full and complete satisfaction of all Allowed Class 9 Claims. Class 10 consists of General Unsecured Creditors of SMG Approximately $625,000, plus the unsecured portion of Change Capital's claim. Each holder of an allowed Class 10 claim will receive its pro-rata share of the liquidation of SMG's assets after Change Capital recovers its Class 4 security interest in full (if any). The SMG Debtor does not believe there will be any recovery for the Class 10 creditors. Class 11 consists of General Unsecured Creditors of MK Ultra of approximately $375,000, plus the unsecured portion of Change Capital's claim as to MK Ultra. MK Ultra has no assets. MK Ultra will dissolve on the Effective Date, and no creditors will receive recovery from the MK Ultra Debtor. The Plan will provide that USA contribute the Projected Plan Payments over five years which will be deemed to satisfy all Allowed Claims in full. The Projected Plan Payments will be augmented by Matthew Kolinski's contributed new value ($150,000 of his salary per year, totaling $750,000 in total). SMG's assets will be liquidated in an orderly liquidation, and the sale proceeds will be distributed to secured creditors (first) and unsecured creditors (second) to the extent such proceeds allow. MK Ultra has no assets and will dissolve on the Effective Date. A full-text copy of the Amended Disclosure Statement dated October 6, 2025 is available at https://urlcurt.com/u?l=TnDcVQ from PacerMonitor.com at no charge. The Debtor's Counsel: Daniel Etlinger, Esq. UNDERWOOD MURRAY, P.A. 100 N. Tampa St Tampa, FL 33602 Tel: (813) 540-8407 Email: detlinger@underwoodmurray.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. Change Capital Holdings I, LLC, as senior creditor, is represented by: Steven J. Brotman, Esq. Troutman Pepper Locke, LLP 777 South Flagler Drive Suite 215 East Tower West Palm Beach, FL 33401 Telephone: 561-833-7700 Facsimile: 561-655-8719 steven.brotman@troutman.com -- and -- Sean A. Feener, Esq. Troutman Pepper Locke, LLP 875 Third Avenue, New York, NY 10022 Telephone: 212.912.2724 sean.feener@troutman.com VAI CONSTRUCTION: Unsecureds Will Get 13% of Claims over 60 Months ------------------------------------------------------------------ Vai Construction Inc., filed with the U.S. Bankruptcy Court for the Eastern District of New York a Disclosure Statement for Small Business Plan of Reorganization dated October 6, 2025. The Debtor is a licensed General Contractor. The Debtor commenced this Chapter 11 Case to restructure its debts through the proposed Plan, which envisions Distributions to holders of Claims. Class 2 consists of General Unsecured Claims. This Class is impaired. * New York State Department of Taxation & Finance with a claim amount of $224.98. This Class shall receive 13% ($29.24) dividend to be paid in 60 monthly installment payments in the amount of $0.48, commencing on the effective date of the plan. * T Mobile/T-Mobile USA Inc. with a claim amount of $1,265.89. This Class shall receive 13% ($164.56) dividend to be paid in 60 monthly installment payments in the amount of $2.74, commencing on the effective date of the plan. * JPMorgan Chase Bank, N.A. with a claim amount of $30,140.74. This Class shall receive 13% ($3,918.29) dividend to be paid in 60 monthly installment payments in the amount of $65.30, commencing on the effective date of the plan. * JPMorgan Chase Bank, N.A. with a claim amount of $56,037.18. This Class shall receive 13% ($7,284.83) dividend to be paid in 60 monthly installment payments in the amount of $121.42, commencing on the effective date of the plan. * Internal Revenue Service with a claim amount of $1,305.43. This Class shall receive 13% ($169.70) dividend to be paid in 60 monthly installment payments in the amount of $2.82, commencing on the effective date of the plan. * SPA 1229 LLC with a claim amount of $18,768.00. This Class shall receive 13% ($2,439.84) dividend to be paid in 60 monthly installment payments in the amount of $40.66, commencing on the effective date of the plan. * Home Depot with a claim amount of $6,000.00. This Class shall receive 13% ($780.00) dividend to be paid in 60 monthly installment payments in the amount of $13.00, commencing on the effective date of the plan. * Lowe's Home Improvement with a claim amount of $6,500.00. This Class shall receive 13% ($845.00) dividend to be paid in 60 monthly installment payments in the amount of $14.08, commencing on the effective date of the plan. The Plan will be funded from the funds accumulated on the Debtor's DIP account, from the date of the petition, as well as from continuing operating income and reorganized business operations of the Debtor. A full-text copy of the Disclosure Statement dated October 6, 2025 is available at https://urlcurt.com/u?l=KTSkcg from PacerMonitor.com at no charge. Counsel to the Debtor: Alla Kachan, Esq. Law Offices of Alla Kachan, PC 2799 Coney Island Avenue, Suite 202 Brooklyn, NY 11235 Telephone: (718) 513-3145 About Vai Construction Inc. Vai Construction Inc. is a licensed and insured general contractor. Vai Construction Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 24-45166) on December 11, 2024. In the petition filed by Taras Vaida, as president, the Debtor reports total assets of $23,486 and total liabilities of $1,361,782. Honorable Bankruptcy Judge Nancy Hershey Lord handles the case. The Debtor is represented by Alla Kachan, Esq. at LAW OFFICES OF ALLA KACHAN, P.C. VERIJET INC: Assets Enter Liquidation Following Chapter 7 Filing ---------------------------------------------------------------- Creatd, Inc. (OTC: CRTD) announced on October 14, 2025, that its lead aviation subsidiary, Flyte, is poised to expand following the recent Chapter 7 bankruptcy filing of Verijet, a Florida-based charter operator once hailed as a leader in sustainable private aviation. While Verijet's abrupt collapse highlights the risks of overextension in a fast-evolving market, Flyte represents a disciplined and technology-driven path forward for the sector. Flyte was designed to scale the modern charter business without sacrificing operational integrity. As Verijet's assets enter liquidation, Creatd and Flyte see an opportunity to strategically strengthen their presence in key markets including Florida, the West Coast, and New York by integrating valuable routes, infrastructure, and talent. "We're not celebrating anyone's downfall," said Jeremy Frommer, CEO of Creatd and founder of Flyte. "But the truth is, the industry needs a reset. Flyte was built on the foundation of learning from others' mistakes, structured operations, real accountability, and technology that actually works. We're ready to step in where Verijet left off, with a model that can last." Verijet's closure leaves behind its fleet of Cirrus Vision Jets, unused infrastructure, and a network of customers, creditors and partners seeking continuity. Flyte has expressed interest in open dialogue with these stakeholders to ensure the regional jet model continues to evolve responsibly. "We're not shy about absorbing pieces of this business," Frommer added. "If there's value, be it aircraft, routes, or talent, we'll look at it. The plan is simple: bring the right assets under Flyte, keep the best people flying, and do it with the discipline Verijet lost along the way." Once the 13th-largest private jet operator in the United States, Verijet's failure underscores a key lesson: scale without stability is unsustainable. Flyte remains focused on steady, deliberate growth across its three divisions, Flyte Luxe, Flyte Hops, and Flyte Escapes, each serving distinct segments of the modern travel market. "There's no room anymore for smoke and mirrors," Frommer said. "The next generation of aviation companies, ours included, must balance vision with financial reality. We're building something that lasts." For further information, contact: Creatd, Inc. Creatd Investor Relations ir@creatd.com About Verijet Inc. Verijet, established in Florida in 2020 by Richard Kane, is a seasoned entrepreneur in aviation and telecommunications, specialized in on-demand charter operations featuring the Cirrus SF50 Vision Jet, a single-engine very light jet known for its efficiency and safety features. Verijet Inc. sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bank. S.D. Fla. Case No. 25-21901) on October 9, 2025. In its petition, the Debtor reports $2.5 million in asset and liabilities totaling $38.7 million. Honorable Bankruptcy Judge Corali Lopez-Castro handles the case. WEATHERSTONE LLC: Section 341(a) Meeting of Creditors on Nov. 10 ---------------------------------------------------------------- On October 14, 2025, Weatherstone LLC filed Chapter 11 protection in the Northern District of Georgia. According to court filing, the Debtor reports between $10 million and $50 million in debt owed to 50 and 99 creditors. The petition states funds will be available to unsecured creditors. A meeting of creditors under Section 341(a) to be held on November 10, 2025 at 10:00 AM via Telephone conference. To attend, Dial 888-330-1716 and enter access code 5032079. About Weatherstone LLC Weatherstone LLC based in Dallas, Georgia, develops and sells single-family homes in a 172-acre residential subdivision near Monroe Cole Road. Weatherstone LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-41599) on October 14, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million. The Debtor is represented by Will Geer, Esq. of ROUNTREE, LEITMAN, KLEIN & GEER, LLC. WHITE WILSON: Gets Interim OK to Use Cash Collateral ---------------------------------------------------- White Wilson Medical Center, PA got the green light from the U.S. Bankruptcy Court for the Northern District of Florida, Tallahassee Division, to use cash collateral. At the latest hearing, the court authorized the Debtor's interim use of cash collateral and set a further hearing for November 19. White Wilson Medical Center is a multi-specialty medical practice established in 1952 and currently the largest private physician group on Florida's Emerald Coast. It employs approximately 58 medical providers and 232 staff members. The Debtor filed for bankruptcy protection to reorganize and continue providing patient care, while preserving its assets and operational integrity. The Debtor's secured creditors include INSBANK, which is owed approximately $4.1 million on a loan from December 2023, plus $352,000 on a line of credit, and Itria Ventures LLC, which is owed roughly $291,000 under a receivables sales agreement from August 2024. Both creditors have UCC-1 filings asserting liens in the Debtor's cash and accounts receivable. The Debtor generates substantial monthly revenue -- averaging over $5 million in gross receipts -- and holds roughly $626,647 in cash and $4.28 million in accounts receivable, which constitute the cash collateral subject to these liens. The Debtor intends to use cash collateral in accordance with a proposed budget to fund critical operating expenses and case administration costs. These include payroll, insurance, utilities, lease payments (starting in November 2025), maintenance of assets, and interest-only payments to INSBANK at a 6% rate. The Debtor will not use any cash collateral to pay pre-bankruptcy debts without specific authorization. As adequate protection, the Debtor offers granting secured lenders replacement liens on post-petition assets to the same extent, validity, and priority as those held pre-petition, thereby allowing existing "floating" liens to continue uninterrupted. INSBANK is represented by: James M. Donohue, Esq. Ausley McMullen 123 South Calhoun St. (32301) Post Office Box 391 Tallahassee, FL 32302 (850) 425-5458 Facsimile: (850) 222-7560 jdonohue@ausley.com Itria Ventures is represented by: Paul A. Humbert, Esq. Law Offices of Paul A. Humbert, P.L. 9655 South Dixie Hwy, Suite 312 Miami, FL 33156 Tel: (305) 914-7862 Fax: (305) 513-5153 pa@pahumbertlaw.com About White Wilson Medical Center PA White Wilson Medical Center PA is a multi-specialty medical practice headquartered in Fort Walton Beach, Florida. Founded in 1952 by Dr. Henry C. White and Dr. Joseph C. Wilson, the group provides primary care and outpatient services through more than 20 medical specialties, including cardiology, gastroenterology, neurology, pediatrics, radiology, and surgery, as well as operating an ambulatory surgery center. It is the largest private physician group on Florida's Emerald Coast, employing about 58 medical providers and over 230 staff across 12 leased clinic locations in Fort Walton Beach, Crestview, DeFuniak Springs, Destin, Navarre, and Niceville. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Fla. Case No. 25-40486) on October 3, 2025. In the petition signed by Kenneth Persaud, chief executive officer, the Debtor disclosed up to $10 million in assets and up to $50 million in liabilities. Judge Karen K. Specie oversees the case. Michael C. Markham, Esq., at Johnson, Pope, Bokor, Ruppel & Burns, LLP represents the Debtor as legal counsel. WHITESTONE CROSSING: Plan Exclusivity Period Extended to Nov. 10 ---------------------------------------------------------------- Judge Stacey G. Jernigan of the U.S. Bankruptcy Court for the Northern District of Texas extended Whitestone Crossing Austin LLC's exclusive periods to file a plan of reorganization and obtain acceptance thereof to November 10, 2025 and January 9, 2026, respectively. As shared by Troubled Company Reporter, the Debtor explains that cause exists to grant the relief requested in this Motion. First, the progress in this Bankruptcy Case was significantly delayed because the Debtor was initially represented by counsel who did not have a solid understanding of Chapter 11 practice, and the Debtor replaced its counsel a mere two months ago. Second, since current counsel has been engaged, the Debtor has negotiated a long-term cash collateral agreement with Lument, the senior lender, worked to amend the Schedules and Statement of Financial Affairs, and concluded the Meeting of Creditors just last week. Only now is the Bankruptcy Case ready to turn to plan formulation and filing. Third, a major disputed secured claim is the Judgment, which was voluntarily mediated by the Debtor on September 4, 2025. Fixing the amount of that claim or deciding that the Judgment must be appealed is a gating issue for formulation of the Plan. Additionally, the Debtor has been operating within the protection of chapter 11 for slightly under four months and has generated sufficient revenues to satisfy its post-petition obligations as they come due through the authorized use of cash collateral. Whitestone Crossing Austin, LLC is represented by: J. Mark Chevallier Michael T. Pipkin ROCHELLE MCCULLOUGH LLP 901 Main Street, Suite 3200 Dallas, TX 75202 Telephone: (214) 953-0182 Facsimile: (888) 467-5979 Email: mchevallier@romclaw.com mpipkin@romclaw.com About Whitestone Crossing Austin Whitestone Crossing Austin, LLC operates Whitestone Crossing, an apartment community located in Cedar Park, Texas. The property offers one- and two-bedroom units featuring modern amenities such as nine-foot ceilings, fiber-ready internet, and in-home washers and dryers. The community also provides facilities including a swimming pool, clubhouse, and fitness center. Whitestone Crossing Austin sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-31768) on May 12, 2025. In its petition, the Debtor reported estimated assets and liabilities between $10 million and $50 million. Judge Stacey G. Jernigan handles the case. The Debtor is represented by Abhijit Modak, Esq., at Abhijit Modak, Attorney at Law. LFT CRE 2021-FL1, Ltd., acting through Lument Real Estate Capital, is represented by: Brent McIlwain, Esq. Christopher A. Bailey, Esq. Holland & Knight, LLP 1722 Routh Street, Suite 1500 Dallas, TX 75201 Telephone: 214.969.1700 brent.mcilwain@hklaw.com WILDFLOWER INVESTMENT: Hires David Nyle Chandler as Legal Counsel ----------------------------------------------------------------- Wildflower Investment Properties II, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of California to employ David Nyle Chandler, PC to handle its Chapter 11 case. The firm will be paid at these hourly rates: David Chandler, Esq. $500 Paralegal $135 On September 15, 2025, Jeffrey C. Hansen, a managing member of the Debtor, paid the firm a retainer of $36,735. Mr. Chandler disclosed in a court filing his 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 N. Chandler, Esq. David Nyle Chandler PC 1747 4th Street Santa Rosa, CA 95404 Telephone: (707) 528-4331 About Wildflower Investment Properties II Wildflower Investment Properties II, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 25-10580) on Sept. 15, 2025, listing up to $1 million in both assets and total liabilities. The Debtor is represented by David N. Chandler, Esq., at David Nyle Chandler PC. WINDTREE THERAPEUTICS: WINT Settles $750,000 Earnest Money Dispute ------------------------------------------------------------------ Windtree Therapeutics, Inc. filed a Form 8-K Report with the U.S. Securities and Exchange Commission. As previously disclosed, on April 19, 2025, WINT Real Estate, LLC, a wholly owned subsidiary of the Company, entered into an Assignment and Conditional Assumption Agreement with Way Maker Growth Fund, LLC relating to that certain Purchase and Sale Agreement dated June 28, 2024, as amended (the Purchase Agreement), between Way Maker and TBB Crescent Park Drive LLC. Pursuant to the Purchase Agreement, TBB CPD agreed to sell to Way Maker real property commonly known as the Aubrey, located at 11755 Southlake, Houston, Texas. Pursuant to the terms of the Assignment, Way Maker agreed to assign to WINT LLC its right, title and interest in the Purchase Agreement. As disclosed on June 24, 2025, TBB CPD provided a notice of termination with respect to the Purchase Agreement to the Company. The Notice demanded the $3 million in earnest money held by the escrow agent for the transaction, of which $1,400,000 was paid by the Company with the remainder by Way Maker, be released to TPP CPD. The Company had disputed TPP CPD's entitlement to the Earnest Money. On September 30, 2025, WINT LLC and TBB entered into a Settlement and Mutual Release Agreement which instructs the Escrow Holder to release $750,000 of the Earnest Money to WINT and to release the remaining Earnest Money to TBB. In addition, the parties agree that the Purchase Agreement is validly terminated and WINT has no rights with regard to the Property along with a mutual release of claims as defined in the Agreement. About Windtree Therapeutics Headquartered in Warrington, Pennsylvania, Windtree Therapeutics, Inc. -- windtreetx.com -- is a biotechnology company focused on advancing early and late-stage innovative therapies for critical conditions and diseases. The Company's portfolio of product candidates includes: (a) istaroxime, a Phase 2 candidate that inhibits the sodium-potassium ATPase and also activates sarco endoplasmic reticulum Ca2+ -ATPase 2a, or SERCA2a, for acute heart failure and associated cardiogenic shock; preclinical SERCA2a activators for heart failure; rostafuroxin for the treatment of hypertension in patients with a specific genetic profile; and a preclinical atypical protein kinase C iota, or aPKCi, inhibitor (topical and oral formulations), being developed for potential application in rare and broad oncology indications. The Company also has a licensing business model with partnership out-licenses currently in place. Philadelphia, Pennsylvania-based EisnerAmper LLP, the company's auditor since 2022, 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 Dec. 31, 2024, citing that the Company has suffered recurring losses from operations and expects to incur losses for the foreseeable future, that raise substantial doubt about its ability to continue as a going concern. As of June 30, 2025, the Company had $31.83 million in total assets, $24.98 million in total liabilities, and $3.61 million in total stockholders' equity. WOHALI LAND: Trustee Hires Ampleo Turnaround as Consultant ---------------------------------------------------------- Matt McKinlay, the trustee appointed in the Chapter 11 case of Wohali Land Estates, LLC, seeks approval from the U.S. Bankruptcy Court for the District of Utah to employ Ampleo Turnaround and Restructuring LLC as professional consultant. The trustee needs a professional consultant to assist in administering the Debtor through its Chapter 11 proceeding. The firm will be paid at these hourly rates: Doug Charboneau, T&R Case Manager $325 Scott Randle, T&R Transaction Advisor/Operational Support $325 Jeff Warr, T&R Real Estate Support $345 Other Associates $100 - $345 In addition, the firm will seek reimbursement for expenses incurred. Lincoln Howell, sole member of Ampleo Turnaround and Restructuring, disclosed in a court filing 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: Lincoln Howell Ampleo Turnaround and Restructuring LLC 13601 W. McMillan Rd., Ste. 102 PMB 320 Boise, ID 83713 Email: lhowell@ampleo.com About Wohali Land Estates LLC Wohali Land Estates, LLC develops the Wohali master-planned community in Coalville, Utah, combining private residential neighborhoods with public-access resort amenities such as a golf course, lodge, spa, and dining facilities. The development's design integrates luxury homes and estate lots with hospitality, recreation, and infrastructure improvements including public roadways, utility systems, and environmental stabilization measures. Its operations include property maintenance and site preparation to preserve asset value and support future construction. Wohali Land Estates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Utah Case No. 25-24610) on August 8, 2025. In its petition, the Debtor reported between $100 million and $500 million in assets and liabilities. Honorable Bankruptcy Judge Peggy Hunt handles the case. The Debtor is represented by Mark C. Rose, Esq., at McKay, Burton & Thurman, PC. WOMEN'S OB-GYN: Kimberly Ross Clayson Named Subchapter V Trustee ---------------------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Kimberly Ross Clayson, Esq., as Subchapter V trustee for Women's OB-GYN, P.C. Ms. Clayson, an attorney at Taft Stettinius & Hollister, LLP, will be paid an hourly fee of $400 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Clayson declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Kimberly Ross Clayson, Esq. Taft Stettinius & Hollister, LLP 27777 Franklin Rd., Ste. 2500 Southfield, MI 48034 Phone: (248) 727.1635 Email: kclayson@taftlaw.com About Women's OB-GYN P.C. Women's OB-GYN, P.C. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D. Mich. Case No. 25-21306) on October 3, 2025, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Daniel S. Opperman presides over the case. Zachary R. Tucker, Esq., represents the Debtor as legal counsel. WORLDWIDE MACHINERY: Gets Extension to Access Cash Collateral ------------------------------------------------------------- Worldwide Machinery Group, Inc. and affiliates received second interim approval from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, to use cash collateral to fund operations. The second interim order authorized the Debtors to use cash collateral from September 11 until the final hearing scheduled for October 22 or until it is terminated by the court. Cash collateral must be used in accordance with the interim budget, subject to a 15% variance. The Debtors' financing involves two major facilities: (i) a $132.5 million asset-based revolving loan with Key Equipment Financing as administrative agent, of which about $117.6 million is outstanding and past maturity, secured by first-priority liens on substantially all assets of the Debtors; and (ii) a $50 million term loan with Cantor Fitzgerald Securities, as administrative and collateral agent, with about $70.9 million outstanding, secured by second-priority liens. An intercreditor agreement governs lien priorities between these lenders. To protect secured lenders against any diminution in collateral value, the court granted these lenders (i) continuing liens on collateral, with the same validity and priority as their pre-bankruptcy liens; (ii) replacement liens on post-petition collateral (excluding Chapter 5 avoidance actions and any commercial tort claims against the lenders); and (iii) superpriority administrative claims under Section 507(b) of the Bankruptcy Code. The order specifies that it creates no third-party rights and that its provisions will survive conversion or dismissal of the Chapter 11 cases. A copy of the court's interim order and the Debtor's budget is available at https://shorturl.at/nPnsY from PacerMonitor.com. A final hearing is scheduled for October 22. As of September 11, the Debtors have approximately $190.2 million of secured debt obligations, which include $188.5 million owed under the credit agreements with Key Equipment Financing and Cantor, and $1.68 million owed to John Deere Financial. Between February and December 2023, John Deere Financial issued nine secured term loans due between June 2027 and December 2028 in the aggregate principal amount of approximately $2.8 million pursuant to certain retail instalment contracts by and among Worldwide Machinery, Ltd. and John Deere Financial. The loans financed the Debtors' acquisition of certain pieces of equipment, with such equipment serving as the sole collateral for the loans. The Debtors do not believe that John Deere Financial has a security interest in cash collateral entitled to adequate protection. Key Equipment Financing is represented by: William A. (Trey) Wood III, Esq. Jason G. Cohen, Esq. Jonathan L. Lozano, Esq. Bracewell, LLP 711 Louisiana Street, Suite 2300 Houston, TX 77002 Telephone: (713) 223-2300 Facsimile: (800) 404-3970 trey.wood@bracewell.com jason.cohen@bracewell.com jonathan.lozano@bracewell.com -and- Frederick D. Hyman, Esq. Crowell & Moring, LLP Two Manhattan West 375 Ninth Avenue New York, NY 10001 Telephone: (212) 803-4028 fhyman@crowell.com -and- Randall Hagen, Esq. Crowell & Moring, LLP 1001 Pennsylvania Avenue, NW Washington, DC 20004 Telephone: (202) 624-2712 rhagen@crowell.com About Worldwide Machinery Group Inc. Worldwide Machinery Group Inc. is a construction equipment sales and rental company. Worldwide Machinery and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90379) on September 11, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. Honorable Bankruptcy Judge Christopher M. Lopez handles the case. The Debtors are represented by Fan B. He, Esq., Samuel P. Hershey, Esq., Roberto J. Kampfner, Esq., David Michel Turetsky, Esq., Kristin Elyse Schultz, Esq., and Charles R. Koster, Esq. at White Case LLP. YIELD10 BIOSCIENCE: Gets Court OK for Chapter 11 Liquidation Plan ----------------------------------------------------------------- Ben Zigterman of Law360 Bankruptcy Authority reports that on October 14, 2025, a Delaware bankruptcy judge has approved the Chapter 11 liquidation plan of agriculture technology firm Yield10 Bioscience Inc., paving the way for the company to dissolve and distribute proceeds to creditors. Under the plan, general unsecured creditors are projected to receive approximately 20% of their claims. Yield10, known for developing innovations to improve crop yields, filed for bankruptcy after facing persistent funding challenges and capital shortages. The company's assets, including intellectual property and research data, will be liquidated under court supervision to satisfy creditor claims, according to report. The court determined that Yield10's plan met all requirements under the U.S. Bankruptcy Code, including fairness and feasibility. With approval granted, the company will now move forward with winding down operations and initiating distributions to creditors, the report states. About Yield10 Bioscience Yield10 Bioscience develops Camelina varieties for seed products, including feedstock oils, nutritional oils, and PHA bioplastics, as outlined on its website. Yield10 Biosciences and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 24-12752) on Dec. 6, 2024. In the petition filed by Oliver P. Peoples, authorized person, Yield10 Biosciences reports total assets of $8,218,085 and total debts of $5,771,189. Honorable Bankruptcy Judge Mary F. Walrath oversees the case. Frederick B. Rosner, Esq., at The Rosner Law Group LLC serves as the Debtors' counsel. ZAHAV VENTURES: Court OKs Conditional Use of Cash Collateral ------------------------------------------------------------ NewRez LLC, as servicer for secured creditors, obtained conditional order from the U.S. Bankruptcy Court for the Southern District of New York, White Plains, granting its motion to prohibit Zahav Ventures, LLC from using cash collateral. The motion filed in July sought to bar Zahav Ventures from using rental income from six mortgaged properties in Baltimore, Md., without court approval or lender consent. The bankruptcy court conditionally granted the motion, allowing the Debtor to use rental income solely for maintenance of the properties. The Debtor is not allowed to use the rental income for any purpose unrelated to the properties, including personal expenses of its principals and insiders. As adequate protection, the court granted OCMBC, Inc. and JPMorgan Chase Bank, N.A. post-petition replacement liens on the Baltimore properties, equal in validity and extent to their pre-bankruptcy liens. Additionally, OCMBC and JPMorgan will receive monthly payments of $5,057.8 and $1,369.95, respectively. These payments will continue until plan confirmation, dismissal of the Debtor's Chapter 11 case, or conversion of the case to one under Chapter 7. The conditional order is available at https://is.gd/Q2GdQ3 from PacerMonitor.com. OCMBC and JPMorgan are represented by: Jenelle C. Arnold, Esq. Aldridge Pite, LLP 3333 Camino del Rio South Suite 225 San Diego CA 92108 Telephone: (858) 750-7600 Facsimile: (619) 590-1385 bkecfinbox@aldridgepite.com About Zahav Ventures LLC Zahav Ventures LLC is involved in real estate-related activities. Its principal asset is located in Baltimore, Maryland. Zahav Ventures sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-22536) on June 17, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million. Judge Sean H. Lane oversees the case. The Debtor is represented by Kevin Nash, Esq., at Goldberg Weprin Finkel Goldstein LLP. ZOOZ POWER: Expands Bitcoin Treasury to 854 BTC Worth Over $100M ---------------------------------------------------------------- ZOOZ Power Ltd. announced that it has completed an additional purchase of 329 bitcoin for around $40 million, bringing its total bitcoin holdings to 854 bitcoin valued at more than $100 million. This milestone marks a significant step forward in the execution of ZOOZ's bitcoin treasury reserve strategy. ZOOZ is the first NIS (New Israeli Shekel) denominated Bitcoin exposure for investors in the market. "With this additional acquisition, we are accelerating our transformation into an institutional quality bitcoin treasury," said Jordan Fried, Chief Executive Officer of ZOOZ. "Our focus remains unchanged: buy bitcoin and hold it for the long-term, giving investors exposure to the Bitcoin asset class via ZOOZ equity." Bitcoin Purchases to Date: Using the net proceeds of the private placement, initially announced on July 29, 2025, in connection with the Company's adoption of a bitcoin treasury reserve strategy, ZOOZ has now purchased 854 bitcoin for an aggregate consideration of $100 million. About ZOOZ Power Headquartered in Lod, Israel, ZOOZ Power Ltd., formerly Chakratec, develops, produces, and markets energy storage and management systems for electric vehicle charging infrastructure. The Company's solutions use flywheel-based kinetic energy storage and advanced software to optimize power delivery to clusters of ultra-fast EV chargers, providing additional energy when grid capacity is limited and enabling off-peak energy storage. ZOOZ operates internationally, focusing on supporting the deployment and efficiency of robust, cost-effective EV charging networks. In its audit report dated March 7, 2025, Kesselman & Kesselman issued a "going concern" qualification 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. Such circumstances raise substantial doubt about the Company's ability to continue as a going concern. The Company noted in its Quarterly Report for the period ended June 30, 2025, that since commercial sales of its products have only recently begun and in light of anticipated cash requirements, its cash balance as of June 30, 2025, and at the time the financial statements were approved, is insufficient to fund operations for at least 12 months from the approval date. In order to continue the Company's operations, including research and development and sales and marketing, the Company is looking to secure financing from various sources, including additional investment funding. There is no assurance that the Company will be successful in obtaining the level of financing necessary to finance its operations. As of June 30, 2025, ZOOZ Power had $6.55 million in total assets, $6.70 million in total liabilities, and a total deficit of $146,000. [^] Recent Small-Dollar & Individual Chapter 11 Filings ------------------------------------------------------- In re Northwest Ohio Speech, Language and Rehabilitation Services, Ltd. Bankr. N.D. Ohio Case No. 25-32078 Chapter 11 Petition filed September 30, 2025 See https://www.pacermonitor.com/view/GAK3FIY/Northwest_Ohio_Speech_Language__ohnbke-25-32078__0001.0.pdf?mcid=tGE4TAMA represented by: Eric R. Neuman, Esq. DILLER AND RICE, LLC E-mail: eric@drlawllc.com In re LRB Equities, LLC Bankr. N.D. Fla. Case No. 25-30965 Chapter 11 Petition filed October 1, 2025 See https://www.pacermonitor.com/view/4B27R3Y/LRB_Equities_LLC__flnbke-25-30965__0001.0.pdf?mcid=tGE4TAMA represented by: Jodi Daniel Dubose, Esq. STICHTER, RIEDEL, BLAIN & POSTLER, P.A. Email: jdubose@srbp.com In re Pro Roofing and Construction, LLC Bankr. E.D. Tex. Case No. 25-42924 Chapter 11 Petition filed October 1, 2025 See https://www.pacermonitor.com/view/VUMTQGA/Pro_Roofing_and_Construction_LLC__txebke-25-42924__0001.0.pdf?mcid=tGE4TAMA represented by: C. Daniel Herrin, Esq. HERRIN LAW, PLLC E-mail: ecf@herrinlaw.com In re DDJ Inc., LLC Bankr. W.D. Tex. Case No. 25-31269 Chapter 11 Petition filed October 1, 2025 See https://www.pacermonitor.com/view/CIWOJEQ/DDJ_Inc_LLC__txwbke-25-31269__0001.0.pdf?mcid=tGE4TAMA represented by: James Jopling, Esq. JIM K. JOPLING, ATTORNEY AT LAW E-mail: jim@joplinglaw.com In re Synergy Fitness Merrick, Inc. Bankr. E.D.N.Y. Case No. 25-73790 Chapter 11 Petition filed October 1, 2025 See https://www.pacermonitor.com/view/2LNCC5I/Synergy_Fitness_Merrick_INC__nyebke-25-73790__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Altman & Nelson Printing Co., Inc. Bankr. S.D. Tex. Case No. 25-60091 Chapter 11 Petition filed October 1, 2025 See https://www.pacermonitor.com/view/JPYTMUY/ALTMAN__NELSON_PRINTING_CO_INC__txsbke-25-60091__0001.0.pdf?mcid=tGE4TAMA represented by: Robert C Lane, Esq. THE LANE LAW FIRM E-mail: notifications@lanelaw.com In re Reachone LLC Bankr. N.D. Cal. Case No. 25-41831 Chapter 11 Petition filed October 2, 2025 See https://www.pacermonitor.com/view/EHTMYOI/Reachone_LLC__canbke-25-41831__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 12-14 West Street LLC Bankr. D. Mass. Case No. 25-12107 Chapter 11 Petition filed October 2, 2025 See https://www.pacermonitor.com/view/VP7MOPA/12-14_West_Street_LLC__mabke-25-12107__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re AGI Marketing, Inc. Bankr. W.D. Tex. Case No. 25-31273 Chapter 11 Petition filed October 2, 2025 See https://www.pacermonitor.com/view/4COZ7KI/AGI_Marketing_Inc__txwbke-25-31273__0001.0.pdf?mcid=tGE4TAMA represented by: James Jopling, Esq. JIM K. JOPLING, ATTORNEY AT LAW E-mail: jim@joplinglaw.com In re Side Yard Public House, Inc. Bankr. S.D. Calif. Case No. 25-04126 Chapter 11 Petition filed October 2, 2025 See https://www.pacermonitor.com/view/WXZZHRQ/Side_Yard_Public_House_Inc__casbke-25-04126__0001.0.pdf?mcid=tGE4TAMA represented by: Donald Reid, Esq. LAW OFFICE OF DONALD W. REID E-mail: don@donreidlaw.com In re Davis Property Management Group, LLC Bankr. S.D. Fla. Case No. 25-21726 Chapter 11 Petition filed October 3, 2025 See https://www.pacermonitor.com/view/DHDJSGA/Davis_Property_Management_Group__flsbke-25-21726__0001.0.pdf?mcid=tGE4TAMA represented by: Brian K. McMahon, Esq. BRIAN K MCMAHON, PA E-mail: briankmcmahon@gmail.com In re All Moms Love, LLC Bankr. S.D. Ind. Case No. 25-06074 Chapter 11 Petition filed October 3, 2025 See https://www.pacermonitor.com/view/N75N5VY/All_Moms_Love_LLC__insbke-25-06074__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Creative Stars Academy, LLC Bankr. D. Minn. Case No. 25-33151 Chapter 11 Petition filed October 3, 2025 See https://www.pacermonitor.com/view/NYCIPHY/Creative_Stars_Academy_LLC__mnbke-25-33151__0001.0.pdf?mcid=tGE4TAMA represented by: Jeffrey Butwinick, Esq. BUTWINICK LAW OFFICE E-mail: jeff@butwinicklaw.com In re Professional Honda & Acura, Inc. Bankr. D.P.R. Case No. 25-04497 Chapter 11 Petition filed October 3, 2025 See https://www.pacermonitor.com/view/LBZF5EI/PROFESSIONAL_HONDA__ACURA_INC__prbke-25-04497__0001.0.pdf?mcid=tGE4TAMA represented by: Francisco J Ramos Gonzalez, Esq. FRANCISCO J RAMOS AND ASOCIADOS E-mail: fjramosquiebras@gmail.com In re A-1 Automotive & Truck Center, Inc. Bankr. W.D. Tenn. Case No. 25-25046 Chapter 11 Petition filed October 3, 2025 See https://www.pacermonitor.com/view/4OWBUCY/A-1_Automotive__Truck_Center__tnwbke-25-25046__0001.0.pdf?mcid=tGE4TAMA represented by: Chasity S. Grice, Esq. THE ESTATE AND FAMILY LAW GROUP, PLLC E-mail: cgrice@eflawgroup.com In re Smith's Barbeque and Cajun Cuisine, LLC d/b/a The Cajun Shotgun House & Barbecue Bankr. N.D. Miss. Case No. 25-13340 Chapter 11 Petition filed October 5, 2025 See https://www.pacermonitor.com/view/Y5XQRDY/Smiths_Barbeque_and_Cajun_Cuisine__msnbke-25-13340__0001.0.pdf?mcid=tGE4TAMA represented by: Susan C. Smith, Esq. SUSAN C. SMITH, ATTORNEY AT LAW E-mail: smithsusanc@bellsouth.net In re Aurora Mobile IV & Wellness LLC Bankr. N.D. Ala. Case No. 25-82023 Chapter 11 Petition filed October 6, 2025 See https://www.pacermonitor.com/view/O2L22UY/Aurora_Mobile_IV__Wellness_LLC__alnbke-25-82023__0001.0.pdf?mcid=tGE4TAMA represented by: Stuart Maples, Esq. THOMPSON BURTON PLLC E-mail: smaples@thompsonburton.com In re Special Enforcement Security Services d/b/a Private Sector Security Bankr. C.D. Cal. Case No. 25-11859 Chapter 11 Petition filed October 6, 2025 See https://www.pacermonitor.com/view/UUATK3Y/Special_Enforcement_Security_Services__cacbke-25-11859__0001.0.pdf?mcid=tGE4TAMA represented by: Larry Fieselman, Esq. OAKTREE LAW E-mail: larry@oaktreelaw.com In re Ferdimarc Umbay Bankr. C.D. Cal. Case No. 25-18877 Chapter 11 Petition filed October 6, 2025 represented by: Michael Totaro, Esq. In re Latitude 46 North, LLC Bankr. D. Colo. Case No. 25-16471 Chapter 11 Petition filed October 6, 2025 See https://www.pacermonitor.com/view/FNTN22Y/Latitude_46_North_LLC__cobke-25-16471__0001.0.pdf?mcid=tGE4TAMA represented by: Bonnie Bell Bond, Esq. LAW OFFICE OF BONNIE BELL BOND E-mail: BONNIE@BELLBONDLAW.COM In re 1027 Fantasy, LLC Bankr. M.D. Fla. Case No. 25-07348 Chapter 11 Petition filed October 6, 2025 See https://www.pacermonitor.com/view/CBREJQA/1027_Fantasy_LLC__flmbke-25-07348__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Outpatient Service Providers, LLC Bankr. M.D. Fla. Case No. 25-03588 Chapter 11 Petition filed October 6, 2025 See https://www.pacermonitor.com/view/GUA7YUY/Outpatient_Service_Providers_LLC__flmbke-25-03588__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re BWB Legal Services, LLC Bankr. N.D. Ga. Case No. 25-61503 Chapter 11 Petition filed October 6, 2025 Filed Pro Se In re AD1 Resources LLC Bankr. N.D. Ga. Case No. 25-61525 Chapter 11 Petition filed October 6, 2025 Filed Pro Se In re All In Profits, LLC Bankr. N.D. Ga. Case No. 25-61537 Chapter 11 Petition filed October 6, 2025 Filed Pro Se In re Dana Michelle Brennan Bankr. N.D. Ga. Case No. 25-61602 Chapter 11 Petition filed October 6, 2025 represented by: William A. Rountree, Esq. ROUNTREE LEITMAN KLEIN & GEER, LLC In re Equilateral Investment Group LLC Bankr. N.D. Ga. Case No. 25-61523 Chapter 11 Petition filed October 6, 2025 See https://www.pacermonitor.com/view/7TQH56Y/Equilateral_Investment_Group_LLC__ganbke-25-61523__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Kis Build LLC Bankr. N.D. Ga. Case No. 25-61585 Chapter 11 Petition filed October 6, 2025 Filed Pro Se In re Psycare LLC Bankr. N.D. Ga. Case No. 25-11503 Chapter 11 Petition filed October 6, 2025 Filed Pro Se In re Reids Realestate Contracting LLC Bankr. N.D. Ga. Case No. 25-61517 Chapter 11 Petition filed October 6, 2025 Filed Pro Se In re The John Bennett Group, LLC Bankr. N.D. Ga. Case No. 25-61577 Chapter 11 Petition filed October 6, 2025 Filed Pro Se In re Rich P. Successful, LLC. Bankr. N.D. Ga. Case No. 25-61561 Chapter 11 Petition filed October 6, 2025 See https://www.pacermonitor.com/view/EHPFGOA/Rich_P_Successful_LLC__ganbke-25-61561__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Sibuna Group, LLC Bankr. N.D. Ga. Case No. 25-61562 Chapter 11 Petition filed October 6, 2025 Filed Pro Se In re SJ Asset Holdings, LLC Bankr. N.D. Ga. Case No. 25-61578 Chapter 11 Petition filed October 6, 2025 Filed Pro Se In re Discovery Woods Farms, LLC Bankr. S.D. Ga. Case No. 25-30138 Chapter 11 Petition filed October 6, 2025 See https://www.pacermonitor.com/view/5UM5YWA/Discovery_Woods_Farms_LLC__gasbke-25-30138__0001.0.pdf?mcid=tGE4TAMA represented by: Daniel L. Wilder, Esq. EMMETT GOODMAN JR LLC E-mail: bkydept@goodmanlaw.org In re O & K Alexander's Co. Inc. Bankr. N.D. Ill. Case No. 25-15355 Chapter 11 Petition filed October 6, 2025 See https://www.pacermonitor.com/view/6ZH3C2A/O__K_Alexanders_Co_Inc__ilnbke-25-15355__0001.0.pdf?mcid=tGE4TAMA represented by: Joel Schechter, Esq. LAW OFFICES OF JOEL A. SCHECHTER E-mail: joelschechter1953@gmail.com In re ASN Investment Group, LLC Bankr. E.D. Pa. Case No. 25-14054 Chapter 11 Petition filed October 6, 2025 See https://www.pacermonitor.com/view/SSP227A/ASN_INVESTMENT_GROUP_LLC__paebke-25-14054__0001.0.pdf?mcid=tGE4TAMA represented by: Maggie Soboleski, Esq. CENTER CITY LAW OFFICES, LLC E-mail: msoboles@yahoo.com In re Isano 3, Inc. Bankr. W.D. Pa. Case No. 25-22681 Chapter 11 Petition filed October 6, 2025 See https://www.pacermonitor.com/view/XBEDOSA/Isano_3_Inc__pawbke-25-22681__0001.0.pdf?mcid=tGE4TAMA represented by: David Z. Valencik, Esq. CALAIARO VALENCIK E-mail: dvalencik@c-vlaw.com In re Double Portion Ranch LLC Bankr. E.D. Tex. Case No. 25-43006 Chapter 11 Petition filed October 6, 2025 See https://www.pacermonitor.com/view/BUK26JI/Double_Portion_Ranch_LLC__txebke-25-43006__0001.0.pdf?mcid=tGE4TAMA represented by: Akiko Endo, Esq. VERT LAW GROUP PC E-mail: akiko.endo@vertfirm.com In re Helbig Community Development Corporation Bankr. E.D. Tex. Case No. 25-10469 Chapter 11 Petition filed October 6, 2025 See https://www.pacermonitor.com/view/DIKKV4A/Helbig_Community_Development_Corporation__txebke-25-10469__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Limsumang Prasert and Limsumang Page Bankr. E.D. Va. Case No. 25-12066 Chapter 11 Petition filed October 6, 2025 represented by: Madeline Trainor, Esq. In re Marcus J Lewis Bankr. D. Ariz. Case No. 25-09531 Chapter 11 Petition filed October 7, 2025 In re Andrew Krayndler Bankr. C.D. Cal. Case No. 25-11871 Chapter 11 Petition filed October 7, 2025 represented by: Eric Bensamochan, Esq. In re Douglas Warren Green Bankr. M.D. Fla. Case No. 25-06440 Chapter 11 Petition filed October 7, 2025 represented by: Jeffrey Ainsworth, Esq. In re Garment Gear, Inc. Bankr. N.D. Fla. Case No. 25-50200 Chapter 11 Petition filed October 7, 2025 See https://www.pacermonitor.com/view/ZFWQH7Q/Garment_Gear_Inc__flnbke-25-50200__0001.0.pdf?mcid=tGE4TAMA represented by: Michael A. Wynn, Esq. STICHTER, RIEDEL, BLAIN & POSTLER, P.A. E-mail: mwynn@srbp.com In re Arrieta Home Investment LLC Bankr. S.D. Fla. Case No. 25-21838 Chapter 11 Petition filed October 7, 2025 See https://www.pacermonitor.com/view/U2BCMHY/ARRIETA_HOME_INVESTMENT_LLC__flsbke-25-21838__0004.0.pdf?mcid=tGE4TAMA represented by: Peter Spindel, Esq. PETER SPINDEL, ESQ., P.A. E-mail: peterspindel@gmail.com In re 360 Fast, LLC Bankr. D. Kan. Case No. 25-21454 Chapter 11 Petition filed October 7, 2025 See https://www.pacermonitor.com/view/P7JHL3Y/360_Fast_LLC__ksbke-25-21454__0001.0.pdf?mcid=tGE4TAMA represented by: Colin N. Gotham, Esq. EVANS & MULLINIX, P.A. E-mail: cgotham@emlawkc.com In re Boackpearl Salon and Day Spa, L.C. Bankr. D. Md. Case No. 25-19364 Chapter 11 Petition filed October 7, 2025 See https://www.pacermonitor.com/view/OU7NY3Y/Boackpearl_Salon_and_Day_Spa_LC__mdbke-25-19364__0001.0.pdf?mcid=tGE4TAMA represented by: Geri Lyons Chase, Esq. LAW OFFICE OF GERI LYONS CHASE E-mail: gchase@glchaselaw.com In re WFL Builders, LLC Bankr. S.D.N.Y. Case No. 25-36052 Chapter 11 Petition filed October 7, 2025 See https://www.pacermonitor.com/view/SMOK4NY/WFL_Builders_LLC__nysbke-25-36052__0001.0.pdf?mcid=tGE4TAMA represented by: Michelle L. Trier, Esq. GENOVA, MALIN & TRIER, LLP E-mail: michelle@gmtllp.com In re One Door Knob At A Time LLC Bankr. E.D. Pa. Case No. 25-14059 Chapter 11 Petition filed October 7, 2025 See https://www.pacermonitor.com/view/W2Z3K2I/One_Door_Knob_At_A_Time_LLC__paebke-25-14059__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re LLC Driver Consulting Group Bankr. S.D. Tex. Case No. 25-35986 Chapter 11 Petition filed October 7, 2025 See https://www.pacermonitor.com/view/HBGXPBI/LLC_Driver_Consulting_Group__txsbke-25-35986__0001.0.pdf?mcid=tGE4TAMA represented by: Ezenwanyi Abii, Esq. ABII & ASSOCIATES, PLLC E-mail: eabii@abiilegal.com In re Robert Matthew Walsh Bankr. S.D. Tex. Case No. 25-35965 Chapter 11 Petition filed October 7, 2025 represented by: Reese Baker, Esq. In re Steven Papermaster Bankr. W.D. Tex. Case No. 25-11564 Chapter 11 Petition filed October 7, 2025 represented by: Frank Lyon, Esq. In re Chinn Baker Properties LLC Bankr. E.D. Va. Case No. 25-12069 Chapter 11 Petition filed October 7, 2025 See https://www.pacermonitor.com/view/FJBKFWI/Chinn_Baker_Properties_LLC__vaebke-25-12069__0001.0.pdf?mcid=tGE4TAMA represented by: Jonathan B. Vivona, Esq. VIVONA PANDURANGI, PLC E-mail: jvivona@vpbklaw.com In re Patricia Lynn Stephens Bankr. E.D. Cal. Case No. 25-13392 Chapter 11 Petition filed October 8, 2025 In re Brianna Michelle Agogho Bankr. D.D.C. Case No. 25-00462 Chapter 11 Petition filed October 8, 2025 represented by: Claude Alde, Esq. In re Derek Michael Schwartz and Kristen Leigh Schwartz Bankr. M.D. Fla. Case No. 25-06451 Chapter 11 Petition filed October 8, 2025 represented by: Daniel Velasquez, Esq. In re Fernandez P. Enterprise LLC Bankr. S.D. Fla. Case No. 25-21879 Chapter 11 Petition filed October 8, 2025 See https://www.pacermonitor.com/view/YLG2CHY/Fernandez_P_Enterprise_LLC__flsbke-25-21879__0001.0.pdf?mcid=tGE4TAMA represented by: Mark S. Roher, Esq. LAW OFFICE OF MARK S. ROHER, P.A. E-mail: mroher@markroherlaw.com In re Gene Austin Triggs, Jr. Bankr. M.D. Tenn. Case No. 25-04238 Chapter 11 Petition filed October 9, 2025 represented by: Robert Gonzales, Esq. In re DaoVenQuy88, LLC Bankr. W.D. Tex. Case No. 25-52391 Chapter 11 Petition filed October 7, 2025 See https://www.pacermonitor.com/view/M2YNVCI/DaoVenQuy88_LLC__txwbke-25-52391__0001.0.pdf?mcid=tGE4TAMA represented by: Robert C Lane, Esq. THE LANE LAW FIRM E-mail: notifications@lanelaw.com In re Daovenquy, LLC Bankr. W.D. Tex. Case No. 25-52392 Chapter 11 Petition filed October 7, 2025 See https://www.pacermonitor.com/view/NBPT5NQ/DAOVENQUY_LLC__txwbke-25-52392__0001.0.pdf?mcid=tGE4TAMA represented by: Robert C Lane, Esq. THE LANE LAW FIRM E-mail: notifications@lanelaw.com In re Patricia Lynn Stephens Bankr. E.D. Cal. Case No. 25-13392 Chapter 11 Petition filed October 8, 2025 Filed Pro Se In re Point Clear Capital Partners, LP Bankr. N.D. Fla. Case No. 25-30987 Chapter 11 Petition filed October 8, 2025 See https://www.pacermonitor.com/view/TWLBM5Q/Point_Clear_Capital_Partners_LP__flnbke-25-30987__0001.0.pdf?mcid=tGE4TAMA represented by: Jason R Watkins, Esq. SILVER VOIT GARRETT & WATKINS E-mail: jwatkins@silvervoit.com In re 1270 Jeff LLC Bankr. E.D.N.Y. Case No. 25-44868 Chapter 11 Petition filed October 8, 2025 See https://www.pacermonitor.com/view/WOBKBSY/1270_Jeff_LLC__nyebke-25-44868__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 484 Emrald Develorment Corp Bankr. E.D.N.Y. Case No. 25-44877 Chapter 11 Petition filed October 8, 2025 See https://www.pacermonitor.com/view/YBKVHLI/484_Emrald_Develorment_Corp__nyebke-25-44877__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Macon Nostrand Management Corp Bankr. E.D.N.Y. Case No. 25-44862 Chapter 11 Petition filed October 8, 2025 See https://www.pacermonitor.com/view/4G655FY/Macon_Nostrand_Management_Corp__nyebke-25-44862__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Matthew Bridwell DDS PA DBA Kanis Dental Bankr. E.D. Ark. Case No. 25-13477 Chapter 11 Petition filed October 9, 2025 See https://www.pacermonitor.com/view/UJAZBMI/Matthew_Bridwell_DDS_PA_DBA_Kanis__arebke-25-13477__0001.0.pdf?mcid=tGE4TAMA represented by: Vanessa Cash Adams, Esq. LAW OFFICE OF VANESSA CASH ADAMS INC Email: vanessa@vanessacash.org In re Gabriel Omar Castillo Bankr. C.D. Cali Case No. 25-11883 Chapter 11 Petition filed October 9, 2025 represented by: Michael Berger, Esq. In re New Normal Brewing, LLC Bankr. N.D. Cal. Case No. 25-41895 Chapter 11 Petition filed October 9, 2025 See https://www.pacermonitor.com/view/KA7EARY/New_Normal_Brewing_LLC__canbke-25-41895__0001.0.pdf?mcid=tGE4TAMA represented by: Christopher H. Hart, Esq. NUTI HART LLP E-mail: chart@nutihart.com In re Atherton Trail, LLC Bankr. N.D. Cal. Case No. 25-30821 Chapter 11 Petition filed October 9, 2025 See https://www.pacermonitor.com/view/CYJCMUA/Atherton_Trail_LLC__canbke-25-30821__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re New Normal Industries, LLC Bankr. N.D. Cal. Case No. 25-41896 Chapter 11 Petition filed October 9, 2025 See https://www.pacermonitor.com/view/TRNHC6I/New_Normal_Industries_LLC__canbke-25-41896__0001.0.pdf?mcid=tGE4TAMA represented by: Christopher H. Hart, Esq. NUTI HART LLP E-mail: chart@nutihart.com In re Jorge Hernan Rodriguez Bankr. S.D. Fla. Case No. 25-21890 Chapter 11 Petition filed October 9, 2025 represented by: Chad Van Horn, Esq. In re Alvaro J. Mejia Bankr. D.N.J. Case No. 25-20686 Chapter 11 Petition filed October 9, 2025 See https://www.pacermonitor.com/view/VFJX7MQ/Alvaro_J_Mejia__njbke-25-20686__0001.0.pdf?mcid=tGE4TAMA represented by: John W. Sywilok, Esq. JOHN W. SYWILOK LLC E-mail: sywilokattorney@sywilok.com In re Exclusive Optical, Inc Bankr. E.D.N.Y. Case No. 25-44904 Chapter 11 Petition filed October 9, 2025 See https://www.pacermonitor.com/view/3DQUTSQ/Exclusive_Optical_Inc__nyebke-25-44904__0001.0.pdf?mcid=tGE4TAMA represented by: Alla Kachan, Esq. LAW OFFICES OF ALLA KACHAN, P.C. E-mail: alla@kachanlaw.com In re Trident Equities LLC Bankr. E.D.N.Y. Case No. 25-73917 Chapter 11 Petition filed October 9, 2025 See https://www.pacermonitor.com/view/4COK4GQ/Trident_Equities_LLC__nyebke-25-73917__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Bunting Graphics, Inc. Bankr. W.D. Pa. Case No. 25-22741 Chapter 11 Petition filed October 9, 2025 See https://www.pacermonitor.com/view/QU34DQQ/Bunting_Graphics_Inc__pawbke-25-22741__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Guaranteed On Time Deliveries, LLC Bankr. M.D. Pa. Case No. 25-02897 Chapter 11 Petition filed October 9, 2025 See https://www.pacermonitor.com/view/UP4JW2A/Guaranteed_On_Time_Deliveries__pambke-25-02897__0001.0.pdf?mcid=tGE4TAMA represented by: James K. Jones, Esq. CGA LAW FIRM E-mail: jjones@cgalaw.com In re Caballito LLC Bankr. D.P.R. Case No. 25-04578 Chapter 11 Petition filed October 9, 2025 See https://www.pacermonitor.com/view/CRT4LMQ/CABALLITO_LLC__prbke-25-04578__0001.0.pdf?mcid=tGE4TAMA represented by: Jose M Prieto Carballo, Esq. JPC LAW OFFICE E-mail: jpc@jpclawpr.com In re Tellico Rentals, LLC Bankr. E.D. Tenn. Case No. 25-12707 Chapter 11 Petition filed October 9, 2025 See https://www.pacermonitor.com/view/X2YFNFI/Tellico_Rentals_LLC__tnebke-25-12707__0001.0.pdf?mcid=tGE4TAMA represented by: W. Thomas Bible, Jr., Esq. TOM BIBLE LAW E-mail: tom@tombiblelaw.com In re Vicon Holding & Investment Company, LLC Bankr. E.D. Tenn. Case No. 25-12701 Chapter 11 Petition filed October 9, 2025 See https://www.pacermonitor.com/view/QR64EGA/VICON_HOLDING__INVESTMENT_COMPANY__tnebke-25-12701__0001.0.pdf?mcid=tGE4TAMA represented by: Amanda M Stofan, Esq. FARINASH AND STOFAN E-mail: amanda@8053100.com In re Cocos Mariscos & Bar, Inc. Bankr. W.D. Wash. Case No. 25-12833 Chapter 11 Petition filed October 9, 2025 See https://www.pacermonitor.com/view/UZJSS6Y/Cocos_Mariscos__Bar_Inc__wawbke-25-12833__0001.0.pdf?mcid=tGE4TAMA represented by: Jennifer L. Neeleman, Esq. NEELEMAN LAW GROUP, P.C. E-mail: courtmail@expresslaw.com In re John Richard Schaefer and Sandra Kay Schaefer Bankr. D. Ariz. Case No. 25-09701 Chapter 11 Petition filed October 12, 2025 represented by: Patrick Keery, Esq. KEERY MCCUE, PLLC In re Schaefer Recognition & Media Group, LLC Bankr. D. Ariz. Case No. 25-09689 Chapter 11 Petition filed October 10, 2025 See https://www.pacermonitor.com/view/LQ5COMI/SCHAEFER_RECOGNITION__MEDIA_GROUP__azbke-25-09689__0001.0.pdf?mcid=tGE4TAMA represented by: Patrick Keery, Esq. KEERY MCCUE, PLLC Email: pfk@keerymccue.com In re Hardwood Restaurant Holdings, LLC Bankr. C.D. Cal. Case No. 25-19049 Chapter 11 Petition filed October 10, 2025 See https://www.pacermonitor.com/view/SZUSMTA/Hardwood_Restaurant_Holdings_LLC__cacbke-25-19049__0001.0.pdf?mcid=tGE4TAMA represented by: Michael Jay Berger, Esq. LAW OFFICES OF MICHAEL JAY BERGER Email: michael.berger@bankruptcypower.com In re Tech Rabbit Inc. Bankr. N.D. Cal. Case No. 25-51562 Chapter 11 Petition filed October 10, 2025 See https://www.pacermonitor.com/view/GN5LLFY/Tech_Rabbit_Inc__canbke-25-51562__0001.0.pdf?mcid=tGE4TAMA represented by: David C. Johnston, Esq. DAVID C. JOHNSTON E-mail: david@johnstonbusinesslaw.com In re Big Mikes Tree Service, LLC Bankr. M.D. Fla. Case No. 25-06540 Chapter 11 Petition filed October 10, 2025 See https://www.pacermonitor.com/view/IPFDENI/Big_Mikes_Tree_Service_LLC__flmbke-25-06540__0001.0.pdf?mcid=tGE4TAMA represented by: Jeffrey S. Ainsworth, Esq. BRANSONLAW, PLLC Email: jeff@bransonlaw.com In re El Burro Loco Food Corp Bankr. M.D. Fla. Case No. 25-06539 Chapter 11 Petition filed October 10, 2025 See https://www.pacermonitor.com/view/ZUCUUKY/El_Burro_Loco_Food_Corp__flmbke-25-06539__0001.0.pdf?mcid=tGE4TAMA represented by: Jeffrey S. Ainsworth, Esq. BRANSONLAW, PLLC Email: jeff@bransonlaw.com In re MJS Materials, Inc. Bankr. S.D. Fla. Case No. 25-21971 Chapter 11 Petition filed October 10, 2025 See https://www.pacermonitor.com/view/WW5WV5Y/MJS_Materials_Inc__flsbke-25-21971__0001.0.pdf?mcid=tGE4TAMA represented by: Matthew S. Kish, Esq. SHAPIRO, BLASI, WASSERMAN & HERMANN PA E-mail: mkish@sbwh.law In re Terry Lee Catlett and Susan Lee Catlett Bankr. W.D. Mo. Case No. 25-50359 Chapter 11 Petition filed October 10, 2025 represented by: Ryan Blay, Esq. In re Shane A. Hard and Stephanie J. Hard Bankr. S.D. Miss. Case No. 25-51522 Chapter 11 Petition filed October 10, 2025 represented by: Patrick Sheehan, Esq. In re Powin EKS SellCo, LLC Bankr. D.N.J. Case No. 25-20757 Chapter 11 Petition filed October 10, 2025 See https://www.pacermonitor.com/view/GEAYWHA/Powin_EKS_SellCo_LLC__njbke-25-20757__0001.0.pdf?mcid=tGE4TAMA represented by: Lauren Macksoud, Esq. DENTONS US LLP Email: lauren.macksoud@dentons.com In re Ludmila Agivaive Bankr. D.N.J. Case No. 25-20758 Chapter 11 Petition filed October 10, 2025 represented by: Geoffrey Neumann, Esq. In re Powin EKS SellCo, LLC Bankr. D.N.J. Case No. 25-20757 Chapter 11 Petition filed October 10, 2025 See https://www.pacermonitor.com/view/GEAYWHA/Powin_EKS_SellCo_LLC__njbke-25-20757__0001.0.pdf?mcid=tGE4TAMA represented by: Lauren Macksoud, Esq. DENTONS US LLP E-mail: lauren.macksoud@dentons.com In re Louis Greco Bankr. E.D.N.Y. Case No. 25-44913 Chapter 11 Petition filed October 10, 2025 represented by: J. Donovan, Esq. In re AHDS Bagel LLC Bankr. S.D.N.Y. Case No. 25-12251 Chapter 11 Petition filed October 10, 2025 See https://www.pacermonitor.com/view/ZOZRAUQ/AHDS_Bagel_LLC__nysbke-25-12251__0001.0.pdf?mcid=tGE4TAMA represented by: Lawrence Morrison, Esq. MORRISON TENENBAUM PLLC Email: lmorrison@m-t-law.com In re Royal G.L.S. Corp. Bankr. S.D.N.Y. Case No. 25-12246 Chapter 11 Petition filed October 10, 2025 See https://www.pacermonitor.com/view/7Q2WXUI/Royal_GLS_Corp__nysbke-25-12246__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re In Home Program, Inc. Bankr. E.D. Pa. Case No. 25-14136 Chapter 11 Petition filed October 10, 2025 See https://www.pacermonitor.com/view/F52OP2Q/In_Home_Program_Inc__paebke-25-14136__0001.0.pdf?mcid=tGE4TAMA represented by: Albert A. Ciardi, III, Esq. CIARDI CIARDI & ASTIN In re Angel M Diaz Rivera and Yvonne Suarez Bankr. D.P.R. Case No. 25-04610 Chapter 11 Petition filed October 10, 2025 represented by: Jesus Batista Sanchez, Esq. ********* 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. 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