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260526.mbx T R O U B L E D C O M P A N Y R E P O R T E R Tuesday, May 26, 2026, Vol. 30, No. 146 Headlines 345 7TH AVENUE: Secured Party Sets Sept.r 1, 2026 Public Auction 4145 BRIARGATE: Hires Sherrard Roe Voigt & Harbison as Counsel 4210 W CARMEN: Voluntary Chapter 11 Case Summary 57 CONCRETE: Seeks to Extend Plan Exclusivity to Oct. 15 801 RESTAURANT: Seeks to Hire SSC CPA's P.A. as Accountant AARONS LANDSCAPING: Seeks to Hire Bell & Bell PLLC as its CPA ADRIANA TAFUR: Carol Fox of GlassRatner Named Subchapter V Trustee ADUDDELL INDUSTRIES: Case Summary & 20 Largest Unsecured Creditors ADVANCED CHAMPION: Trustee Hires Levene Neale as Counsel AINOS INC: Net Loss Narrows 25% in Q1 2026; Going Concern Remains AIR INDUSTRIES: Posts $1MM Loss in Q1, Going Concern Doubt Persists ALASKA SILVER: Plans C$1.24 Million Debt Settlement ALBRITTON FARMS: Hires Bush Law Firm as Bankruptcy Counsel ALGORHYTHM HOLDINGS: Q1 2026 Net Loss Narrows to $5.4 Million ALL-CITY TOWING: Seeks to Extend Plan Exclusivity to June 30 AMBIPAR EMERGENCY: Plan Exclusivity Period Extended to June 1 AMC ENTERTAINMENT: Muvico Notes Fully Cancelled in Stock Exchange ANNIE EYELASH: Jolene Wee of JW Infinity Named Subchapter V Trustee APEX PAVERS: Hires Crary Buchanan P.A. as Special Counsel APPLIED ENERGETICS: Launches New Corporate Website, Brand Identity APPLIED ENERGETICS: Q1 2026 Loss Rises to $3.8 Million ATARA BIOTHERAPEUTICS: Adage Capital Holds 8.56% Equity Stake ATARA BIOTHERAPEUTICS: Redmile Group Holds 9.9% Equity Stake AVITA MEDICAL: Net Loss Narrows to $10.6 Million in Q1 2026 AZHAR CHAUDHARY: Unsecureds to Get 54.71 Cents on Dollar in Plan BASECOAT ON FIFTH: Steven Altmann Named Subchapter V Trustee BEACON LIGHT: Claims to be Paid from Disposable Income BLACK BUFFALO: Asset Auction Scheduled for June 5, 2026 BOWERY SHED: Seeks Subchapter V Bankruptcy in New York BRASS WORKS: Case Summary & Five Unsecured Creditors BRASS WORKS: Secured Party Sets July 24, 2026 Public Auction BRIDGE TO ADULTHOOD: Plan Exclusivity Period Extended to July 21 BRIGHT BEGINNINGS: Hires C. Conde & Associates as Legal Counsel CARDIFF LEXINGTON: Net Loss Surges 586.94% to $3.1MM in Q1 2026 CAREVIEW COMMUNICATIONS: Net Loss Narrows to $756K in Q1 2026 CATHETER PRECISION: C/M Capital Ceases Ownership of Common Stock CBDMD INC: Fiscal Q2 Loss Widens to $798K; Going Concern Unresolved CCSL BILOXI: 120-Day Extension for Plan Filing Granted CLINTWOOD JOD: Hires BDO Consulting Group as Investment Banker COMMUNITY HEALTH: Annual Meeting Elects Board, Ratifies Deloitte COMMUNITY HEALTH: He Zhengxu Holds 5.3% Equity Stake CONSTRUCTION KINGS: Seeks Chapter 7 Bankruptcy in Washington CONTROLLED CHAOS: Gets Interim OK to Use Cash Collateral CRESTMONT PROPERTIES: Plan Exclusivity Period Extended to July 20 CURIS INC: Q1 2026 Net Loss Hits $24.2M, Warns of Bankruptcy Risk CURIS INC: Thomas A. Satterfield Jr. Holds 9.9% Equity Stake CYGNI GROUP: Seeks Chapter 7 Bankruptcy in New York CYTOSORBENTS CORP: Q1 Net Loss Jumps to $5.1M, Warns of Cash Crunch DATA443 RISK: Liabilities Exceed Assets by $15.1M at March 31 DHS MANAGEMENT: Seeks to Hire RHM LAW LLP as Bankruptcy Counsel DINOSAUR RIDGE: Case Summary & One Unsecured Creditor DR. DONNA: Files Emergency Bid to Use Cash Collateral DUOMO GSP: Seeks to Hire Tranzon Auction Properties as Auctioneer DWBH LLC: Seeks Chapter 7 Bankruptcy in New York E.W. SCRIPPS: Charles Schwab Investment Holds 4.11% Equity Stake EAGLES INVESTMENTS: Court Denies Bid to Use Cash Collateral ECOM AUTHORITY: Seeks to Hire KapilaMukamal LLP as Accountant ELONG POWER: Closes $6 Million Registered Offering EMORY INDUSTRIAL: Creditors to Get Proceeds From Liquidation ESSENTIAL INVESTMENT: Case Summary & Two Unsecured Creditors FARMERS COOPERATIVE: Hires Ag Management Group as Consultant FIREFLY NEUROSCIENCE: Net Loss Narrows to $2 Million in Q1 2026 FIRST EMANUEL: Claims to be Paid from Income & Sale Proceeds FLINT INTERNATIONAL: S&P Affirms 'BB' Rating on 2007 Revenue Bonds FLOAT ALASKA: Unsecureds Will Get 1.1% to 11.2% of Claims in Plan FLORIDA PROPERTIES: Commences Chapter 11 Bankruptcy in New York FLUENT INC: Net Loss Narrows to $5.4 Million in Q1 2026 FORGENT POWER: S&P Assigns 'B' Issuer Credit Rating, Outlook Stable FRIEDENBACH FAMILY: Committee Taps Olympus as Financial Advisor FTE NETWORKS: Hires Kantrow Law Group PLLC as Bankruptcy Counsel GATES ENTERPRISES: Hires Kutner Brinen Dickey Riley as Counsel GEV IO: Hires Womble Bond Dickinson (US) LLP as Special Counsel GEV IO: Seeks Approval to Hire Reed Smith LLP as Counsel GEV IO: Seeks to Hire Harney Partners as Financial Advisor HEALING WITH CAARE: Hires Florence A. Bowens as Bankruptcy Counsel HERENS MIDCO: S&P Places 'B-' ICR on CreditWatch Negative HERITAGE SALVAGE: Unsecured Creditors to Get Nothing in Plan HILBERT GROUP: Hires Grobstein Teeple LLP as Manager HILBERT GROUP: Hires Raines Feldman as Bankruptcy Counsel HUGHES SATELLITE: Q1 Net Loss Narrows to $7.7M; $1.5B Debt Due Aug. IAC INC: S&P Affirms 'BB' Issuer Credit Rating, Outlook Stable IKPM PET SUPPLY: Case Summary & 10 Unsecured Creditors INTERNATIONAL LAND: First-Quarter Net Loss Widens to $2.74 Million INVIVYD INC: Holders Elect Six Directors at Annual Meeting JAGUAR HEALTH: Issues Preferred for $22.7M Obligation Reduction JUPITER NEUROSCIENCES: Debts Exceed Assets by $2.8M at March 31 KALVISTA PHARMA: Debts Exceed Assets by $19.7M at March 31 KARYOPHARM THERAPEUTICS: Adage Capital Holds 8.08% Equity Stake KARYOPHARM THERAPEUTICS: Affinity Asset Advisors Holds 8.6% Stake KID CITY USA: Plan Exclusivity Period Extended to Sept. 1 KKHR CONSTRUCCIONES: Hires JJ Accounting Services as Accountant KOKOMO RESTAURANT: Hires Davidoff Hutcher & Citron LLP as Attorney LEGENCE HOLDINGS: S&P Places 'B+' ICR on CreditWatch Positive LENA BRANDS: Deadline for Panel Questionnaires Set for May 28 LEXORA INC: Seeks to Tap Davidoff Hutcher & Citron LLP as Attorney LIU YUN CHEN: Secured Party Sets June 25, 2026 Public Auction LIVEONE INC: Holds 71.5% Equity Stake in PodcastOne, Inc. LQR HOUSE: First-Quarter Net Loss Narrows to $915K LRG BUILDER: Lisa Holder Named Subchapter V Trustee LUMEN TECHNOLOGIES: Refinances $2.4B Level 3 Term Loan Facility LUNAI BIOWORKS: Stockholders OK Reverse Split at Up to 1:30 MANNATECH INC: Liabilities Exceed Assets by $5.6M at March 31 MBIA INC: Wolf Hill Capital Management Holds 5% Equity Stake MCGEACHY HOLDING: Seeks to Hire Biggs Law Firm as Legal Counsel MERCER INTERNATIONAL: Barclays PLC Holds 5.75% Equity Stake MERRICK WOODWORKING: Hires Wadsworth Garber as Bankruptcy Counsel MIRROR LAKE: Seeks to Extend Plan Exclusivity to Aug. 14 MIYOSHI AMERICA: Plan Confirmation Hearing Scheduled for June 3 MO-NA-C0-BIOMEDICAL CORP: Hires Santiago Quinones as Attorney MOSS CREEK: S&P Affirms 'B' Issuer Credit Rating, Outlook Stable MULTI-RACE HOUSING: Seeks to Hire Donald A. Gaudet as Insider NANO PHARMACEUTICAL: Jonathan Dickey Named Subchapter V Trustee NATIONAL ROAD: Seeks to Hire Lake Forest as Reorganization Counsel NELLIS CAB: Plan Exclusivity Period Extended to Aug. 4 NIED OWNERSHIP: Hires Berger Singerman as Bankruptcy Counsel NORTHANN CORP: First-Quarter Net Loss Widens to $2.9 Million O NEW YORK: Seeks Chapter 7 Bankruptcy in New York OCUGEN INC: Closes $130M Convertible Notes Offering OCUGEN INC: Names Mohamed Genead as Interim Chief Medical Officer ODYSSEY LOGISTICS: S&P Cuts ICR to 'CCC+' on Approaching Maturities ORBIT ENERGY: Sets Aug. 31, 2026 Administrative Claims Bar Date ORIGINCLEAR INC: Outlines Path Forward Following CEO's Passing OSCAR ACQUISITIONCO: S&P Downgrades ICR to 'SD' on Debt Repurchase PACIFIC RIM: Hire Premiere Property Group LLC as Exclusive Agent PATRIOT DSP: Seeks to Hire Pinecrest Consulting as Accountant PAVMED INC: First Manhattan Co. Holds 9.6% Equity Stake PERASO INC: Increases ATM Offering Capacity to $670,000 PHARMA-NATURAL: Case Summary & 13 Unsecured Creditors PKG INC: Seeks to Hire Goe Forsythe & Hodges as Bankruptcy Counsel POLAR POWER: Enters Into $2.5M Credit Agreement With Stone Brothers PRECIPIO INC: Q1 Loss Widens to $1.4M; Going Concern Doubt Remains PRECISION OPTICS: Needham Investment, Affiliates Hold 15.3% Stake PRICE PLUMBING: Stephen Moriarty Named Subchapter V Trustee PRINTED MINT: Case Summary & 20 Largest Unsecured Creditors QUICK PRINTS: Files Emergency Bid to Use Cash Collateral QVC GROUP: Charles Schwab Investment Holds 4.73% Equity Stake RACE RANCH: Christopher Lee Named Subchapter V Trustee RAY'S PIZZA: Hires Wesler & Associates CPA PC as Accountant REBORN COFFEE: Delays First Quarter 2026 10-Q Filing REKOR SYSTEMS: Church Pension Fund Holds 7.6% Equity Stake RELIABLE MOVERS: Seeks Chapter 11 Bankruptcy in Washington RELLIS CAMPUS: Submits New Chapter 11 Sale Timeline RESOLUTE INVESTMENT: S&P Lowers ICR to 'B-' on Elevated Leverage REVIVA PHARMACEUTICALS: Barclays PLC Holds 5.96% Equity Stake REVIVA PHARMACEUTICALS: Posts $3.2MM Q1 Loss, Warns of Cash Crunch RHINOGRAM INC: Gets Interim OK to Use Cash Collateral ROSE WAY: Secured Party Sets June 25, 2026 Public Auction RYVYL INC: Rebrands as RTB Digital Following Merger Completion S & A INDUSTRIAL: Seeks to Hire Keith J. Peer CPA as Accountant S&G LABS: Wins Bid to Extend Plan Exclusivity SABLE OFFSHORE: Capital International Investors Holds 5.1% Stake SABLE OFFSHORE: Continental General Insurance Co. Holds 9.3% Stake SALT HOUSE: Plan Exclusivity Period Extended to July 27 SELECTIS HEALTH: Delays Q1 2026 10-Q on Unfinished Financials SILVERROCK DEVELOPMENT: Secures Court OK for Ch. 11 Plan After Deal SMARTZ INC: Hires William J. Factor Ltd as Bankruptcy Counsel SPHERE 3D: Stockholders OK Key Proposals at Annual Meeting SPRING MOUNTAIN: Seeks to Hire RE/MAX Ready as Real Estate Broker STILLWATER HOLDINGS: Steven Nosek Named Subchapter V Trustee SUMMIT NETWORKS: First-Quarter Net Loss Narrows to $64,760 SUNPOWER INC: First-Quarter Net Income Rises to $5.25 Million SUPERNOVA MANAGEMENT: Seeks to Hire Richie Brothers as Auctioneer SURF CLEAN: Hires Cullen and Dykman LLP as Bankruptcy Counsel SURF CLEAN: Hires LaMonica Herbst & Maniscalco as General Counsel TALPHERA INC: Sustains $2.6MM Q1 2026 Loss, Warns of Cash Crunch TB ENTERPISES: Commences Subchapter V Bankruptcy in Washington TM36 LLC: Seeks to Hire Kroll Restructuring as Claims Agent TPI COMPOSITES: Court Okays Chapter 11 Plan of Two Affiliates TRAVELZOO: Liabilities Exceed Assets by $8.3M at March 31 TREEO'S TREE: Taps Professional Accounting Services as Accountant TRINSEO PLC: Signs RSA With Key Lenders to Reduce Debt by $2BB TRIPLE STICKS: Hires Commercial Auction Network as Auctioneer TRIVISTA OIL: Seeks to Hire Rosen Systems Inc. as Auctioneer TURK INDUSTRIES: Case Summary & 16 Unsecured Creditors TURNONGREEN INC: Posts $773K Loss in Q1; Going Concern Persists UBS ASSOCIATES: Claims to be Paid from Disposable Income UPTOWN PHARMACY: Hires Teresa Fuller Accounting as Accountant US MAGNESIUM: Plan Confirmation Hearing Scheduled for June 16 US NUCLEAR: Delays Q1 2026 10-Q; Auditor Review Not Yet Complete VANDERBILT MINERALS: Seeks to Extend Plan Exclusivity to Oct. 14 VILLACON CONTRACTING: Commences Chapter 7 Bankruptcy in Washington VISTAGEN THERAPEUTICS: Names CMO, Grants 150,000 Options VIVAKOR INC: Raises $6M in Convertible Notes With $100M Equity Line WARRIOR TECHNOLOGIES: Case Summary & 20 Top Unsecured Creditors WARRIOR TECHNOLOGIES: Seeks Chapter 11 Bankruptcy w/ $38MM Debt WASHINGTON-MCLAUGHLIN: Rental Income & Sale Proceeds to Fund Plan WEISER ONION: Matthew Grimshaw Named Subchapter V Trustee WEST MARINE: Deadline for Panel Questionnaires Set for May 27 WHITE ASH: Case Summary & Four Unsecured Creditors WHITEHALL TRUST: Dilworth Paxson Can't Represent All Debtors WISCONSIN & MILWAUKEE: Hires Jones Lang as Investment Banker WISCONSIN & MILWAUKEE: Wins Bid to Modify Cash Collateral Order WORKSPORT LTD: Q1 2026 Loss Widens to $5.8MM; Going Concern Remains YUNHONG GREEN: Loss Narrows to $341K in Q1; Warns of Cash Crunch ********* 345 7TH AVENUE: Secured Party Sets Sept.r 1, 2026 Public Auction ---------------------------------------------------------------- Pursuant to (a) Section 9-610 of the Uniform Commercial Code ("UCC") as in effect in the State of New York and (b) the Pledge and Security Agreement, dated as of January 8, 2025 (as amended, restated, or otherwise modified, the "Security Agreement") made by 345 7th AVENUE REALTY MEZZ LLC, a Delaware limited liability company ("Debtor") to BSPODF TRS HOLDCO, LLC, a Delaware limited liability company (together with its successors and assigns, "Secured Party"), the Secured Party will offer for sale at public sale (the "Auction") all right, title, and interest of the Debtor in and to the following collateral (the "Subject Collateral"): (i) one hundred percent (100%) of the membership interests in 345 7th AVENUE REALTY OWNER LLC, a Delaware limited liability company, and (ii) all proceeds (as defined in the UCC) of the foregoing. The Subject Collateral is security for the Debtor's obligations under the Mezzanine Loan Agreement, dated as of January 8, 2025 (as amended, supplemented or otherwise modified, the "Loan Agreement"), among Debtor and the Secured Party. TERMS AND CONDITIONS OF THE AUCTION The Subject Collateral is being sold on an "AS IS, WHERE IS, WITH ALL FAULTS" basis pursuant to the following terms and conditions. 1. Parties interested in bidding at the Auction may, subject to executing confidentiality agreements and meeting the bidder qualifications set forth in the bidding procedures (the "Bidding Procedures"), which can be obtained by contacting Newmark as provided below, obtain additional information concerning the Subject Collateral by contacting Newmark. The Bidding Procedures provide additional information about the bidding process, including bidder qualifications, Auction participation and determination of the winning bid. 2. The Auction will be held on September 1, 2026, at 3:00 p.m. EDT in-person at 60 Centre Street, New York, New York 10007, and virtually via a web-based video conferencing and/or telephonic conferencing program selected by Newmark, access to which will be made available to qualified bidders. 3. The Subject Collateral will be sold on an "AS-IS, WHERE IS, WITH ALL FAULTS" basis, without recourse, and without and express or implied representations or warranties whatsoever including, without limitation, as to the condition of title, value, or quality of the Subject Collateral, or without regard to assets, liabilities, financial condition, or earnings of Debtor or any of their affiliates. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, ALL WARRANTIES, WHETHER OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR OTHERWISE, ARE EXPRESSLY DISCLAIMED. The sale of the Subject Collateral is specifically subject to all taxes, liens (other than those of the Secured Party), claims, assessments, liabilities and encumbrances, if any, that may exist against the Subject Collateral under the UCC or other applicable law. The Secured Party makes no representations or warranties and provides no assurances as to any Subject Collateral. Prospective bidders should perform their own diligence as to the Subject Collateral. 4. The Secured Party reserves the right to determine which bidders qualify for participation in the Auction, reject any bid or all bids at the Auction, to announce such other terms at the Auction as may be commercially reasonable in the Secured Party's discretion or to accept non-conforming bids. Further, the Secured Party reserves the right to cancel, postpone, or adjourn the Auction by announcement made at the Auction, either before or after the commencement of bidding, without written notice or further publication. The Secured Party reserves the right to credit bid any portion of its secured indebtedness then outstanding under the Loan Agreement at the Auction. The Secured Party reserves the right to implement such other terms or conditions at the Auction or regarding the Auction procedures as the Secured Party, in its sole discretion, determines to be commercially reasonable under the circumstances. All inquiries concerning this Notice of Public Sale and the terms and conditions of the sale (including requirements to be a "qualified bidder") should be made to: Brock Cannon, brock.cannon@nmrk.com, 646-315-4785, and Kezia Belfield, kezia.belfield@nmrk.com, 214-674-7610. Any person making any inquiry or request must: (i) disclose the person or entity on whose behalf such information is being sought, (ii) execute the confidentiality agreement, which will be provided upon request, and (iii) maintain the confidentiality of the information provided in accordance with the confidentiality agreement. 4145 BRIARGATE: Hires Sherrard Roe Voigt & Harbison as Counsel -------------------------------------------------------------- 4145 Briargate Parkway Ops LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Tennessee to hire Sherrard Roe Voigt & Harbison, PLC as counsel. The firm will provide these services: (a) render legal advice with respect to the rights, powers, and duties of Debtor in the management of its property; (b) prepare all necessary pleadings, orders and reports with respect to this proceeding and to render all other legal services as may be necessary or proper; (c) assist and counsel Debtor in the preparation, presentation, and confirmation of its Plan of Reorganization; and (d) perform all other legal services that may be necessary and appropriate in the general administration of the estate. Sherrard Roe will be compensated on an hourly basis, with rates ranging from $410 to $1,060 for attorneys and $300 to $390 for paralegals. Attorneys Michael G. Abelow and Brettson J. Bauer will be paid hourly rates of $720 and $460, respectively. Sherrard Roe Voigt & Harbison, PLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Michael G. Abelow, Esq. Brettson J. Bauer, Esq. SHERRARD ROE VOIGT & HARBISON, PLC 1600 West End Avenue, Suite 1750 Nashville, TN 37203 Telephone: (615) 742-4532 E-mail: mabelow@srvhlaw.com bbauer@srvhlaw.com About 4145 Briargate Parkway Ops LLC 4145 Briargate Parkway Ops, LLC, doing business as Spring Grove, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Tenn. Case No. 26-02179) on May 6, 2026, with $100,001 to $500,000 in assets and $1 million to $10 million in liabilities. Judge Randal S. Mashburn presides over the case. Michael G. Abelow, Esq., at Sherrard Roe Voigt & Harbison, PLC represents the Debtor as legal counsel. 4210 W CARMEN: Voluntary Chapter 11 Case Summary ------------------------------------------------ Debtor: 4210 W Carmen St, LLC 3628 Henderson Blvd Tampa FL 33609 Business Description: 4210 W Carmen St, LLC owns a property at 4210 W. Carmen St. in Tampa, with an estimated value of $2.5 million. Chapter 11 Petition Date: May 20, 2026 Court: United States Bankruptcy Court Middle District of Florida Case No.: 26-04291 Judge: Hon. Roberta A. Colton Debtor's Counsel: Kevin Comer, Esq. COMER LAW FIRM 2135 1/2 2nd Avenue North St. Petersburg FL 33713 Tel: 727-729-2719 Email: kevin@comer.work Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Ben Teadel as owner. The Debtor did not include a list of its 20 largest unsecured creditors with the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/BYDFOJY/4210_W_CARMEN_ST_LLC__flmbke-26-04291__0001.0.pdf?mcid=tGE4TAMA 57 CONCRETE: Seeks to Extend Plan Exclusivity to Oct. 15 -------------------------------------------------------- 57 RGV Machinery LLC, 57 Logistics LLC, and 57 Fuels LLC, affiliates of 57 Concrete LLC, asked the U.S. Bankruptcy Court for the Southern District of Texas to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Oct. 15 and Dec. 14, 2026, respectively. The Debtors explain that the requested extension is not a substantive attempt to reset or enlarge the plan process for the Debtors as a whole. The Court has already granted 57 Concrete LLC an extension of its Exclusive Periods, extending the Exclusive Filing Period through Oct. 15, and the Exclusive Solicitation Period through Dec. 14. The purpose of this Motion is narrower: to extend the Exclusive Periods for the Debtors so that their deadlines align with the deadlines already established for the Original Debtor. The Debtors claim that this relief is appropriate because the Debtors filed their chapter 11 cases after the Original Debtor, but their cases are now jointly administered with the Original Debtor under Case No. 25-90818. Because the Debtors are proceeding together in jointly administered cases, it would be inefficient and potentially disruptive for the Debtors to operate on separate and earlier exclusivity deadlines while the Original Debtor remains subject to the later deadlines already approved by the Court. The Debtors assert that the requested extension also will allow the Debtors and their stakeholders to address plan issues on a unified timeline. A coordinated plan process is particularly important here because the Debtors' business operations and financial relationships are interconnected. Aligning the Exclusive Periods will permit the Debtors, the Committee, secured creditors, trade creditors, and other parties in interest to evaluate restructuring alternatives in a coordinated manner. The Debtors further assert that they are not seeking this extension to delay the cases or pressure creditors. Rather, the requested relief merely causes the Debtors to catch up to the exclusivity deadlines already approved for the Original Debtor. No creditor will be prejudiced by having the Debtors proceed on the same plan timeline as the Original Debtor. To the contrary, a single, coordinated deadline structure will reduce uncertainty and make it easier for parties in interest to monitor and participate in the plan process. The Debtors stated that the requested relief is therefore consistent with section 1121(d) and the purposes of chapter 11. It will preserve the Debtors' ability to formulate and propose a coordinated chapter 11 plan, reduce administrative burdens, avoid unnecessary confusion, and ensure that all Debtors proceed under the same exclusivity schedule. Accordingly, the Debtors submit that cause exists to extend the Exclusive Periods for the Debtors so that the Exclusive Filing Period expires on Oct. 15, and the Exclusive Solicitation Period expires on Dec. 14, consistent with the deadlines already established for the Original Debtor. Counsel to the Debtors: Charles M. Rubio, Esq. Lenard M. Parkins, Esq. Roman A. Porsche, Esq. Jacob T. Towles, Esq. Parkins & Rubio, LLP Great Jones Building 708 Main St, Fl 10 Houston, TX 77002-3246 Telephone: (212) 763-3331 Email: crubio@parkinsrubio.com About 57 Concrete LLC 57 Concrete LLC is a Texas-based concrete contracting company that provides concrete construction services for residential, commercial, and infrastructure projects. The company's operations typically include concrete pouring, finishing, and related site work for building and development projects across the region. 57 Concrete sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90818) on Dec. 19, 2025. In its petition, the Debtor reported assets ranging from $10 million to $50 million and estimated liabilities in the same range. Honorable Bankruptcy Judge Christopher M. Lopez presides over the case. The Debtor is represented by Charles Michael Rubio, Esq., and Lenard M. Parkins, Esq., at Parkins & Rubio, LLP. On January 26, 2026, the United States Trustee for the Southern District of Texas appointed an official committee of unsecured creditors in this Chapter 11 case. The committee tapped Grable Martin PLLC as its counsel. 801 RESTAURANT: Seeks to Hire SSC CPA's P.A. as Accountant ---------------------------------------------------------- 801 Restaurant Group, LLC seeks approval from the U.S. Bankruptcy Court for the District of Kansas to hire SSC CPA's P.A. as accountants. The firm will prepare reviewed financials for the years 2024 and 2025 and prepare and finalize 2024 and 2025 federal and state income tax returns for 801 Restaurant Group, LLC and its subsidiaries. The cost of financial statement preparation for 2024 is estimated to range from $28,000 to $33,000. The fees for tax services for 2024 will range from $12,000 to $15,000. The current hourly rates for the primary accountants and staff are: Brian Lang $380 Adam Wuerfele $315 Senior Associate Accountants $200 - Financial Review Associate Accountants $150 - Financial Review Associate Accountants $185 - Tax As disclosed in the court filings, the firm and its shareholders are disinterested parties as defined in 11 U.S.C. Sec. 101(14), representing no interest adverse to the Debtor or the Debtor's estate on the matters upon which they are to be engaged. The firm can be reached through: Brian Lang SSC CPA's P.A. 8001 College Boulevard, Suite 200 Overland Park, KS 66210 Tel: (913) 491-4484 About 801 Restaurant Group, LLC 801 Restaurant Group, LLC, based in Overland Park, Kansas, is a privately held restaurant operator founded in 1993 that develops and manages dining concepts including steakhouses and seafood restaurants. The company operates restaurant brands including 801 Chophouse, 801 Fish, and Pig & Finch, serving individual and corporate customers across the Midwest and other U.S. markets. 801 Restaurant Group, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Kansas Case No. 26-20549) on April 10, 2026, listing $10 million to $50 million in both assets and liabilities. The petition was signed by James P. Lynch, III as manager. Judge Robert D Berger presides over the case. Frank Wendt, Esq. at BROWN & RUPRECHT, PC serves as the Debtor's counsel. AARONS LANDSCAPING: Seeks to Hire Bell & Bell PLLC as its CPA ------------------------------------------------------------- Aarons Landscaping, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Washington to employ Bell & Bell, PLLC as its CPA. The firm's services include: a. preparation and filing of tax returns for the Debtor and the Chapter 11, Subchapter V estate; b. advising the Debtor regarding general accounting and tax-related matters; and c. preparation of the Bankruptcy Monthly Operating Reports: Assisting the Debtor with bookkeeping and financial record-keeping necessary to prepare and file the monthly operating reports required in Subchapter V cases. The firm's compensation will be based on ordinary hourly rates. Jeffrey Bell, a certified public accountant with Bell & Bell, PLLC, assured the court 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: Jeffrey Bell, CPA Bell & Bell, PLLC 5401 104th St E, Ste A Puyallup, WA 98373 Phone: (253) 539-8379 Email: Jeff@bellscpa.com About Aarons Landscaping, LLC Aarons Landscaping, LLC, filed a Chapter 11 bankruptcy petition (Bankr. W.D. Wash. Case No. 26-40864-MJH) on March 27, 2026. At the time of filing, the Debtor estimates $50,001 to $100,000 in assets and $100,001 to $500,000 in liabilities. Judge presides over the case. The Debtor hires Devlin Law Firm LLC as counsel. ADRIANA TAFUR: Carol Fox of GlassRatner Named Subchapter V Trustee ------------------------------------------------------------------ The Acting U.S. Trustee for Region 21 appointed Carol Fox of GlassRatner as Subchapter V trustee for Adriana Tafur Services, Incorporated Ms. Fox will be paid an hourly fee of $450 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Fox declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Carol Fox GlassRatner 200 East Broward Blvd., Suite 1010 Fort Lauderdale, FL 33301 Tel: 954.859.5075 About Adriana Tafur Services Incorporated Adriana Tafur Services, Incorporated, doing business as A.T. Services, provides pediatric therapy services, including speech therapy and related pediatric care, through clinic and home-care services in South Florida. Founded in 2005, the North Miami Beach, Florida-based company serves children and families through therapy programs delivered from its North Miami Beach locations. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-16190) on May 13, 2026, with $500,000 to $1 million in assets and $1 million to $10 million in liabilities. Adriana Tilley, sole shareholder, signed the petition. Daniel A. Velasquez, Esq., at Latham, Luna, Eden & Beaudine, LLP represents the Debtor as legal counsel. ADUDDELL INDUSTRIES: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------------ Debtor: Aduddell Industries and Roofing, LLC 532 NW Mercantile Place, Suite 106 Port Saint Lucie, FL 34986 Business Description: Aduddell Industries and Roofing provides commercial roofing, waterproofing and concrete restoration services for customers across the U.S. The company, based in Port St. Lucie, also performs emergency roofing and restoration work following storms and other natural disasters. Chapter 11 Petition Date: May 22, 2026 Court: United States Bankruptcy Court Southern District of Florida Case No.: 26-16706 Debtor's Counsel: Brian G. Rich, Esq. BERGER SINGERMAN LLP 313 North Monroe Street, Suite 301 Tallahassee, FL 32301 Tel: 850-561-3010 Email: brich@bergersingerman.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Timothy Aduddell as manager. A copy of the Debtor's list of its 20 largest unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/KXILNFQ/Aduddell_Industries_and_Roofing__flsbke-26-16706__0002.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/KNZVCNQ/Aduddell_Industries_and_Roofing__flsbke-26-16706__0001.0.pdf?mcid=tGE4TAMA ADVANCED CHAMPION: Trustee Hires Levene Neale as Counsel -------------------------------------------------------- Timothy J. Yoo, the Trustee for Advanced Champion Investment LLC, seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Levene, Neale, Bender, Yoo & Golubchik L.L.P. as general bankruptcy counsel. The firm's services include: a. advising the Trustee with regard to the requirements of the Bankruptcy Court, Bankruptcy Code, Bankruptcy Rules and the UST as they pertain to the Debtor and the Trustee; b. advising the Trustee with regard to certain rights and remedies of the bankruptcy estate and the rights, claims and interests of creditors; c. representing the Trustee in any proceeding or hearing in the Bankruptcy Court involving its estate unless the Trustee is represented in such proceeding or hearing by other special counsel; d. conducting examinations of witnesses, claimants or adverse parties and representing the Trustee in any adversary proceeding except to the extent that any such adversary proceeding is in an area outside of LNBYG's expertise or which is beyond LNBYG's staffing capabilities; e. preparing and assisting the Trustee in the preparation of reports, applications, pleadings and orders including, but not limited to objections to claims, settlements and other matters relating to the case; f. investigating, evaluating, and prosecuting objections to claims as may be appropriate; and g. performing any other services which may be appropriate in LNBYG's representation of the Trustee during the bankruptcy case. The firm will be paid at these rates: David L. Neale $795 per hour Ron Bender $795 per hour Timothy J. Yoo $795 per hour David B. Golubchik $795 per hour Eve H. Karasik $795 per hour Gary E. Klausner $795 per hour Eric P. Israel $795 per hour Brad D. Krasnoff $795 per hour Edward M. Wolkowitz $795 per hour Beth Ann R. Young $795 per hour Monica Y. Kim $775 per hour Philip A. Gasteier $775 per hour John N. Tedford, IV $775 per hour Daniel H. Reiss $775 per hour Todd A. Frealy $775 per hour Krikor J. Meshefejian $775 per hour John-Patrick M. Fritz $775 per hour Richard P. Steelman, Jr. $750 per hour Juliet Y. Oh $750 per hour Todd M. Arnold $750 per hour Joseph M. Rothberg $750 per hour Jeffrey Kwong $750 per hour Michael D'alba $750 per hour Carmela T. Pagay $725 per hour Anthony A. Friedman $725 per hour Robert Carrasco $595 per hour Paraprofessionals $300 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Yoo disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Timothy J. Yoo Levene, Neale, Bender, Yoo & Golubchik L.L.P. 2818 La Cienega Avenue Los Angeles, CA 90034 Tel No: (310) 229-1234 Telecopier No: (310) 229-1244 About Advanced Champion Investment LLC Advanced Champion Investment LLC holds security interests in residential properties in Los Angeles, California, namely 8144 Gould Avenue and 8148 Gould Avenue, with a combined stake valued at $11 million. Advanced Champion Investment LLC in Temple City CA, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. C.D. Cal. Case No. 25-21245) on Dec. 16, 2025, listing $14,712,656 in assets and $6,775,515 in liabilities. Grace Wei Zhu as managing member, signed the petition. Judge Julia W Brand oversees the case. WILLIAM H. BROWNSTEIN & ASSOCIATES, P.C. serve as the Debtor's legal counsel. AINOS INC: Net Loss Narrows 25% in Q1 2026; Going Concern Remains ----------------------------------------------------------------- Ainos, Inc. has filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting a net loss of $2,459,800 in Q1 2026 compared to $3,286,022 in Q1 2025, resulting in an $826,222 (25%) decrease in net loss attributable to shareholders of common stock. The net loss was due to expanding operating expense as the Company continued to invest resources to execute its growth strategy and product roadmap to improve its profitability. The Company reported $161 and $106,207 in revenue in Q1 2026 and Q1 2025, respectively. The decrease of revenue in Q1 2026 was primarily caused by lower sales volume on AI Nose related programs in healthcare adjacent applications. This decrease was partly attributable to a strategic shift in focus from healthcare-adjacent applications toward industrial deployments, which are currently at earlier stages of commercialization. The Company generated nil and $105,942 in revenues from AI Nose related programs, and $161 and $265 from pet supplements in Q1 2026 and Q1 2025, respectively. The cost of revenue related to product sales in Q1 2026 was $763 compared to $18,233 in Q1 2025. The decrease in cost of revenue was caused by the aforementioned lower produce volume for AI Nose related programs during the reporting period. Gross profit from product sales in Q1 2026 was $602 gross loss as compared to $87,974 gross profit from product sales in Q1 2025. The decrease in gross profit was due to aforementioned lower sale volume. Liquidity As of March 31, 2026, the Company had cash and cash equivalents of $2,841,422. The Company plans to finance its operations and development needs with its existing cash and cash equivalents, additional equity, and/or debt financing arrangements. There can be no assurance that the Company will be able to obtain additional financing on terms acceptable to the Company, on a timely basis, or at all. If the Company is not able to obtain sufficient funds on acceptable terms when needed, the Company's business, results of operations, and financial condition could be materially adversely impacted. On May 31, 2024, the Company entered into an At-the-Market Offering Agreement, or sales agreement, with H.C. Wainwright & Co., LLC or Wainwright, pursuant to which the Company may issue and sell, from time to time, shares of its common stock, the aggregate market value of Shares eligible for sale in the Offering and under the ATM Agreement will be subject to the limitations of General Instruction I.B.6 of Form S-3, to the extent required under such instruction. The prospectus supplement filed with the SEC on July 11, 2024, is offering Shares having an aggregate offering price of $1,840,350. On September 5, 2025, the Company filed a prospectus supplement to amend the Prospectus to update the amount of shares the Company is eligible to sell pursuant to such prospectus. The Company increased the amount of shares of Common Stock it may offer and sell under the Sales Agreement to an aggregate offering price of up to $874,496 from time to time through Wainwright. Pursuant to General Instruction I.B.6 of Form S-3, in no event will the Company sell securities in a public primary offering with a value exceeding one-third of its public float in any 12-month calendar period so long as its public float remains below $75.0 million. For the first quarter of 2026, the Company sold 283,336 shares of common stock under the ATM facility and received $601,600 in net proceeds after deducting commissions and expenses. As of March 31, 2026, the Company sold 1,017,550 shares of common stock under the At-the-Market Offering Agreement, resulting in net proceeds of approximately $2,610,321. For the three months ended March 31, 2026, the Company generated a net loss of $2,459,800. The Company expects to continue incurring development expenses for the next 12 months as the Company advances its product development plans. The Company has incurred net operating losses since inception and has an accumulated deficit as of March 31, 2026 of $69,980,128 and expects to incur additional losses and negative operating cash flows for at least the next 12 months. The Company's ability to meet its obligations is dependent upon its ability to generate sufficient cash flows from operations and future financing transactions. Although management expects the Company will continue as a going concern, there is no assurance that management's plans will be successful since the availability and amount of such funding is not certain. Accordingly, substantial doubt exists about the Company's ability to continue as a going concern for at least the next 12 months. A full text copy of the Company's Form 10-Q is available at https://tinyurl.com/5fa9tphy About Ainos Ainos, Inc. -- https://www.ainos.com/ -- is an artificial intelligence and healthcare Company focused on the commercialization of proprietary scent digitization technology, AI-powered sensing solutions, point-of-care testing, and low-dose oral interferon therapeutics. Irvine, California-based YCM CPA INC, the Company's auditor since 2025, issued a "going concern" qualification in its report dated March 30, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company incurred recurring losses from operations and has an accumulated deficit, which raises substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $9 million in total assets, $2.8 million in total liabilities, and $6.2 million in total stockholders' equity. AIR INDUSTRIES: Posts $1MM Loss in Q1, Going Concern Doubt Persists ------------------------------------------------------------------- Air Industries Group has filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting a net loss for the three months ended March 31, 2026 was $1,020,000, compared to a net loss of $988,000 for the three months ended March 31, 2025. Net sales for the three months ended March 31, 2026 were $11,606,000, a decrease of $529,000, or 4.4%, compared with $12,135,000 for the three months ended March 31, 2025. The period-over-period decrease in net sales was primarily due to overall changes in the mix of products requested by customers. Gross profit for the three months ended March 31, 2026, was $2,602,000 as compared to $2,034,000 for the three months ended March 31, 2025. The Company's gross profit percentage for the three months ended March 31, 2026 increased to 22.4% from the 16.8% for the three months ended March 31, 2025. The increase in margin can be attributable to changes in the sales across the Company's major platforms, shifts in product mix, and overall operating efficiencies. During the second half of 2025, the Company implemented several cost reductions that benefited its gross profit during the three months ended March 31, 2026 that were not in place during the three months ended March 31, 2025. Operating expenses were $3,167,000, for the three months ended March 31, 2026, an increase of $387,000, from $2,780,000 for the three months ended March 31, 2025. As a percentage of consolidated net sales, operating expenses increased to 27.3%, compared to the 22.9% achieved during the three months ended March 31, 2025. The dollar increase was primarily driven by increases in stock-based compensation costs and professional fees as well as costs associated with the continued improvement of the Company's information technology system and hardening its cyber-security defenses. The Company continues to look for ways to reduce its costs and improve its operating performance and financial results. Interest expense (which includes amortization of deferred financing costs) was $494,000 during the three months ended March 31, 2026, an increase of $50,000 or 11.2% from $444,000 during the three months ended March 31, 2025. The increase is primarily attributable to the higher loan balances under the Company's Current Credit Facility. The average interest rate on outstanding debt pursuant to the Company's Current Credit Facility decreased to 6.10% in 2026 as compared to 6.85% in 2025. Liquidity and Capital Resources As of March 31, 2026, the Company has debt service requirements related to: (1) outstanding indebtedness under its Current Credit Facility of $24,876,000 (consisting of a Revolving Loan of $19,283,000 and a Term Loan in the amount of $5,593,000), which debt matures on September 30, 2026, and requires the Company to make monthly payments on the term loan of approximately $87,000 until the loan matures; (2) Related Party Notes of approximately $4,871,000, maturing on October 1, 2026; and (3) various equipment leases and contractual obligations related to the Company's normal business, including advances under its Solar Facility for the installation of solar energy systems including the replacement of the existing roof at its Sterling Facility. Under the terms of the Current Credit Facility, as amended, the Company is required to meet a prescribed Fixed Charge Coverage Ratio that is determined at the end of each fiscal quarter. This ratio is a financial metric used to measure the Company's ability to cover fixed charges such as interest and lease expenses divided by EBITDA (as defined in the Current Credit Facility) which represents net income (loss) before interest, taxes, depreciation and amortization. As of March 31, 2026, the Company is required to meet a FCCR of 1.10x. As of March 31, 2026, the Company was not in compliance with this ratio having only attained a ratio of 0.93x. The Company is in compliance with all other required business and financial covenants. The Current Credit Facility and Related Party Subordinated are classified as current liabilities on the condensed consolidated balance sheet as of March 31, 2026. As a result of the due dates of this debt, there is substantial doubt about the Company's ability to continue as a going concern for the 12 months following the date of filing of these consolidated financial statements. In addition, the Company is in default under its Current Credit Facility due to its failure to meet the FCCR required for the period ended March 31, 2026. Webster Bank has advised the Company that it will not renew its Current Credit Facility. In addition to discussions with its lenders, the Company entered into a Merger Agreement with Tenax. The Current Credit Facility expires on September 30, 2026. In addition, the Company is required to maintain a collection account with its lender into which substantially all cash receipts are remitted. As the Company is in default under the Current Credit Facility, its lender could choose to increase the rate of interest or refuse to make loans under the revolving portion of the Current Credit Facility and keep the funds remitted to the collection account. If the lender were to raise the rate of interest, it would adversely impact the Company's operating results. If the lender were to cease making new loans under the revolving facility, the Company would lack the funds to continue operations. The Current Credit Facility expiration date and the rights granted to the lender, combined with the reasonable possibility that the Company might fail to meet covenants in the future, raise substantial doubt about its ability to continue as a going concern for the one year commencing as of the date of filing this report. To date, the lender has chosen not to exercise any of its remedies, though the Company has agreed to place $3,930,000 of ATM proceeds in an interest bearing account to serve as additional security for the Company's obligations under the Current Credit Facility. To support current operations and strategic initiatives, beginning in December 2024 the Company raised capital through public market sales of its common stock and believes it can continue to access equity markets in future periods, though there is no assurance as to its ability to do so or as to the price and terms under which it could issue equity securities. During the year ended December 31, 2025, the Company sold 1,213,593 shares of common stock in the public market and generated gross proceeds of $4,869,000, of which approximately $3,930,000 is restricted for the benefit of the Current Credit Facility lender. Since initiating the sales in December 2024, the Company has sold a total of 1,330,444 shares for gross proceeds of $5,375,000. In light of ongoing negotiations with its lenders and in accordance with the Merger Agreement with Tenax, the Company has temporarily paused all equity raising activity. The following is a brief discussion of the recent amendments to the Current Credit Facility (all of which have been filed with the SEC): * On January 30, 2025, the Company entered into an Eighth Amendment to provide for an additional Term Loan in the amount of $1,640,000 for the acquisition of equipment. The monthly principal installments on this additional Term Loan are $19,524. This amendment further revised the Company's Financial Covenants. For the rolling 12-month period ending March 31, 2025 and June 30, 2025, the Company is required to achieve a Fixed Charge Coverage Ratio of 1.05x. Beginning with the rolling 12-month period ending September 30, 2025 and going forward the Company is required to achieve a Fixed Charge Coverage Ratio of 1.25x. All other covenants remain unchanged. In connection with these changes, the Company paid an amendment fee of $20,000. * On September 10, 2025, the Company entered into a Ninth Amendment where the Company agreed that $3,930,000 of the proceeds from its ATM Offering would be maintained in an interest bearing account. The funds in this account serve as security for the Company's obligations under the Current Credit Facility. * On December 15, 2025, the Company entered into a Tenth Amendment which waived the defaults caused by the failure to achieve the required fixed charge coverage ratio for the fiscal quarter ended June 30, 2025, and for exceeding the permitted amount of capital expenditures for the fiscal year ending December 31, 2025. Additionally, the maturity date of the revolving credit and term loans were extended to March 31, 2026, and amended the capital expenditure covenant. The Company paid an amendment fee of $40,000. * On February 26, 2026, the Company entered into an Eleventh Amendment which extended the maturity date of the revolving credit and term loans to September 30, 2026. The Company paid an amendment fee of $25,000 and agreed to pay an additional fee of $150,000 on the maturity date of the Current Credit Facility. If the Company is unable to close the merger with Tenax contemplated by the Merger Agreement or obtain a new lender to replace the Current Credit Facility it may not be able to meet its financial obligations. As of March 31, 2026, the Company has borrowing capacity of approximately $787,000 under the Revolving Loan. In addition to required Term Loan payments the Company may have to make additional payments under the Current Credit Facility. For so long as the Term Loan under the Current Credit Facility remains outstanding, if Excess Cash Flow is a positive amount for any fiscal year, the Company is obligated to pay an amount equal to the lesser of: (i) twenty-five percent (25%) of the Excess Cash Flow and (ii) the outstanding principal balance of the Term Loan. Such payment shall be applied to the outstanding principal balance of the Term loan, on or prior to the April 15 immediately following such fiscal year. For the fiscal year ended December 31, 2025, based on the calculation there is no Excess Cash Flow payment required. In addition to the outstanding indebtedness under the Current Credit Facility and Related Party Notes, the Company has various equipment leases and contractual obligations of an ongoing nature which it services in the ordinary course out of its cash flow from operations. The Company's material cash requirements are for debt service, funding working capital and capital expenditures. The Company has historically met these requirements with funds provided by a combination of cash generated from operating activities and cash generated from equity and debt financing transactions. Based on the Company's current revenue visibility, strength of its backlog, and availability under its Current Credit Facility, the Company believes that it has sufficient liquidity to meet its day-to-day cash requirements for its operations. However, the Company must pay or refinance large portions of its indebtedness prior to September 30, 2026. Further, as a condition to refinancing its Current Credit Facility prior to September 30, 2026, a new lender may require that the holders of the Company's Related Party Notes extend or otherwise modify the subordination agreements they have given in favor of the lender. If the Company does not close the contemplated Merger, it is unlikely the Company will be able to pay existing debt and will need to refinance its Current Credit Facility and Related Party Notes. The Company has engaged in discussions with Webster Bank and the holders of its Related Party Notes to explore potential extensions or refinancings of its obligations. Webster Bank has advised the Company that it will not extend its Current Credit Facility. Refinancing the Company's indebtedness may require it to pay higher interest rates than it currently pays, agree to more restrictive business or financial covenants or involve the issuance of debt, equity and/or new securities convertible into or exercisable or exchangeable for its common stock. Any failure to refinance its existing debt or obtain additional working capital when required would have a material adverse effect on the Company's business and financial condition. A full text copy of the Company's Form 10-Q is available at https://tinyurl.com/4j6bjdb9 About Air Industries Headquartered in Bay Shore, New York, Air Industries Group manufactures precision components and assemblies for aerospace and defense contractors. The company supplies landing gear, flight controls, engine mounts and other parts used in military aircraft, commercial aircraft and ground turbines. Founded in 1941 and public since 2005, Air Industries serves a customer base that includes the U.S. government, international governments and commercial airlines. It operates two U.S. manufacturing centers and employs more than 160 people. CBIZ CPAs P.C. issued a going-concern qualification in its March 27, 2026, audit report, citing the scheduled Sept. 30, 2026, maturity of the Current Credit Facility and the Oct. 1, 2026, maturity of Related Party Subordinated Notes. The auditor also pointed to the lender's control over the company's cash receipts, saying the arrangement could leave Air Industries without funds to keep operating if lending were stopped. As of March 31, 2026, the Company had $59,216,000 in total assets, $40,071,000 in total liabilities, and $19,145,000 million in total stockholders' equity. ALASKA SILVER: Plans C$1.24 Million Debt Settlement --------------------------------------------------- Alaska Silver Corp. entered into agreements to settle C$1.24 million in deferred management fee debt through the issuance of 1.51 million common shares, according to a Securities and Exchange Commission filing. The agreements cover deferred management fees owed to President and CEO Christopher Marrs, Vice President, Administration Joan Marrs, Chief Exploration Officer Joe Piekenbrock and Piek Exploration LLC, a company controlled by Piekenbrock. Christopher Marrs, Joan Marrs, Joe Piekenbrock and Piek Exploration LLC would receive 745,479, 484,386, 188,967 and 90,878 common shares, respectively, in exchange for C$611,292.68, C$397,196.54, C$154,953.12 and C$74,520 in fees. The settlement remains subject to regulatory approvals, including acceptance by the TSX Venture Exchange, and approval by disinterested shareholders at the company's next shareholder meeting. Alaska Silver said it will seek approval at its annual general and special meeting scheduled for June 19, 2026. The settlement shares will be subject to a four-month hold period under Canadian securities laws. Separately, the company granted 100,000 stock options to an officer, exercisable at C$0.82 per share for five years. About Alaska Silver Alaska Silver Corp. is a mineral exploration company with a portfolio of five mineral deposits containing gold, silver, copper, lead and zinc at varying stages of exploration. The company holds claims in western Alaska near the Yukon River covering more than 80,000 acres, including the Round Top Property, Illinois Creek Mine Project and Honker Property. Its exploration target projects include Paw Print and Khotol. Alaska Silver was incorporated in British Columbia on April 8, 2020, and its head office is in Vancouver, British Columbia. In an audit report dated March 31, 2026, Davidson & Company LLP included a going concern qualification, stating that Alaska Silver had no current source of operating revenue, incurred a loss of $8.86 million during the year ended Dec. 31, 2025, and had an accumulated operating deficit of $49.37 million at that date, which cast substantial doubt about the company's ability to continue as a going concern. As of March 31, 2026, the company had total assets of $14.12 million, total liabilities of $6.32 million and total shareholders' equity of $7.8 million. ALBRITTON FARMS: Hires Bush Law Firm as Bankruptcy Counsel ---------------------------------------------------------- Albritton Farms Inc. seeks approval from the U.S. Bankruptcy Court for the Middle District of Alabama to hire The Bush Law Firm, LLC as bankruptcy counsel. The firm will render these services: (a) advise the Debtor as to its rights, powers and duties; (b) prepare and file the documents necessary to advance this case; (c) represent the Debtor at the hearings in this matter; (d) prepare and file the status report and plan; (e) defend challenges to the automatic stay set forth within 11 U.S.C. Section 362(a); and (f) provide such other legal services and/or prepare and/or file such other documents as may be necessary to carry out its duties and functions in this case. Anthony Bush, Esq., the primary attorney in this representation, will be paid at his hourly rate of $350, plus reimbursement. The firm received a total retainer of $11,738, including the filing fee of $1,738. Mr. Bush 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 B. Bush, Esq. The Bush Law Firm, LLC 3198 Parliament Circle 302 Montgomery, AL 36116 Telephone: (334) 263-7733 Facsimile: (334) 832-4390 Email: abush@bushlegalfirm.com About Albritton Farms Inc. Albritton Farms Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Ala. Case No. 26-10439) on April 16, 2026, listing $1,000,001 to $10 million in both assets and liabilities. Judge Christopher L Hawkins presides over the case. Anthony B. Bush, Esq. at The Bush Law Firm, LLC serves as the Debtor's counsel. ALGORHYTHM HOLDINGS: Q1 2026 Net Loss Narrows to $5.4 Million ------------------------------------------------------------- Algorhythm Holdings, Inc. has filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting a net loss of $5,380,000 for the three months ended March 31, 2026, compared to a net loss of $9,294,000 for the same period in the prior year. Net sales for the three months ended March 31, 2026 increased to $2,400,000, from $123,000 in the prior-year period. Liquidity And Capital Resources Since its inception, the Company has funded its operations primarily through cash generated by its operations, private sales of equity securities and the use of short- and long-term debt. As of March 31, 2026, the Company's cash and restricted cash balance was $10,939,000. Net cash used in operating activities attributable to continuing operations was $3,922,000 during the three-month period ended March 31, 2026, compared to $2,374,000 during the three-month period ended March 31, 2025. The increase of $1,548,000 was due primarily to a decrease of $6,468,000 for loss on change in fair value of warrants that the Company incurred in connection with the public offering of securities that the Company completed on December 6, 2024, partially offset by a decrease of $2,166,000 for net loss and an increase of $1,655,000 for accrued expenses. Net cash used in investing activities attributable to continuing operations was $128,000 during the three-month period ended March 31, 2026, compared to $672,000 during the three-month period ended March 31, 2025. The decrease of $544,000 was due primarily to a decrease of $672,000 for advances to SMCB under the Company's loan agreement with them, partially offset by an increase of $114,000 for the capitalization of internal use software costs. Net cash provided by financing activities attributable to continuing operations was $8,843,000 for the three-month period ended March 31, 2026. The Company did not have any cash flows from financing activities attributable to continuing operations during the three-month period ended March 31, 2025. The increase of $8,843,000 was due primarily to net proceeds of $9,020,000 that the Company received from Streeterville under the Fourth Pre-Paid Purchase. The Company's limited cash resources along with its recent history of recurring operating losses and decreases in working capital create substantial doubt about the Company's ability to continue as a going concern. To date, the Company's capital needs have been met through cash generated by its operations, sales of its equity securities and the use of short- and long-term debt to fund its operations. The Company has used these sources of capital to pay virtually all of the costs and expenses that it has incurred to date. These costs and expenses have been comprised primarily of the professional fees, employee compensation expenses, and general and administrative expenses discussed above. The Company intends to continue to rely upon each of these sources to fund its operations and expansion efforts, including additional acquisitions of controlling or non-controlling financial interests in other complementary businesses and companies during the next 12 months. The Company can provide no assurance that these sources of capital will be adequate to fund its operations and expansion efforts during the next 12 months. If these sources of capital are not adequate, the Company will need to obtain additional capital through alternative sources of financing. The Company may attempt to obtain additional capital through the sale of equity securities or the issuance of short- and long-term debt. If the Company raises additional funds by issuing shares of its common stock, its stockholders will experience dilution. If the Company raises additional funds by issuing securities exercisable or convertible into shares of its common stock, its stockholders will experience dilution in the event the securities are exercised or converted, as the case may be, into shares of its common stock. Debt financing may involve agreements containing covenants limiting or restricting the Company's ability to take specific actions, such as incurring additional debt, issuing equity securities, making capital expenditures for certain purposes or above a certain amount, or declaring dividends. In addition, any equity securities or debt that the Company issues may have rights, preferences and privileges senior to those of the shares of common stock held by its stockholders. The Company has not made arrangements to obtain additional capital and can provide no assurance that additional financing will be available in an amount or on terms acceptable to the Company, if at all. The Company's ability to obtain additional capital will be subject to a number of factors, including market conditions and its operating performance. These factors may make the timing, amount, terms and conditions of any proposed future financing transactions unattractive to the Company. If the Company cannot raise additional capital when needed, or if such capital cannot be obtained on acceptable terms, the Company may not be able to pay its costs and expenses as they are incurred, take advantage of future acquisition opportunities, respond to competitive pressures or unanticipated events, or otherwise execute upon its business plan. This may adversely affect the Company's business, financial condition and results of operations and, in the extreme case, cause the Company to discontinue its operations. About Algorhythm Holdings, Inc. Algorhythm Holdings, Inc. (NASDAQ: RIME) is an artificial intelligence technology Company focused on the growth and development of SemiCab, an AI-enabled software logistics and distribution business that utilizes the Company's SemiCab technology platform to enable retailers, brands and transportation providers to address common supply chain problems globally. The Company operates the SemiCab business through its subsidiary, SemiCab Holdings, LLC. The Woodlands, TX-based M&K CPAS, PLLC, the Company's auditor since 2025, issued a "going concern" qualification in its report dated April 1, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company suffered a net loss from operations and has an accumulated deficit, which raises substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $18,455,000 in total assets, $15,287,000 in total liabilities, and $3,168,000 in total shareholders' equity. ALL-CITY TOWING: Seeks to Extend Plan Exclusivity to June 30 ------------------------------------------------------------ All-City Towing, LLC and its affiliates asked the U.S. Bankruptcy Court for the Eastern District of Wisconsin to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to June 30 and Aug. 29, 2026, respectively. The Debtors operate a single business enterprise in the auto repair, towing, and transportation industry. Jeff Piller is the owner of the corporate debtors. Mr. Piller and his wife Candice Brecht operate the business enterprise. Each corporate debtor performs a function that is interrelated with those of the others. Since the Petition Date, the Debtors have continued operating their businesses. The Debtors explain that their cases are complex, not only because there are 10 cases being jointly administered, but because of various agreements between the Debtors and certain creditors, some of which involve cross-collateralization. The Debtors claim that a variety of factors have been cited as establishing the cause necessary to extend exclusivity. The Debtors face a complex reorganization due to the 10 jointly administered cases and the cross collateralization involved (Factor 1). The Debtors assert that they have been operating successfully in reorganization and have been negotiating with creditors to provide adequate protection and lay the foundation for a confirmable plan of reorganization (Factor 3). The Debtors further assert that they are paying bills as they become due and have not requested any previous extension of exclusivity (Factors 5 and 6). The Debtor note that the requested extension is not extraordinary. The deadline for filing claims is later this month on May 19th. The current filing deadline will provide less than two weeks from the bar date to review claims and propose a plan. That is not reasonable given the complexity of the cases. Counsel to the Debtors: Evan P. Schmit, Esq. Kerkman & Dunn 839 N. Jefferson St., Suite 400 Milwaukee, WI 53202-3722 Tel: (414) 277-8200 Fax: (414) 277-0100 Email: jkerkman@kerkmandunn.com About All-City Towing LLC All-City Towing LLC operate auto repair, towing, and transportation businesses in Milwaukee and Sheboygan, Wisconsin. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Wisc. Case No. 26-20523) on February 1, 2026. In the petition signed by Jeff Piller, member/manager, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Rachel M. Blise oversees the case. Evan P. Schmit, Esq., at Kerkman & Dunn, represents the Debtor as legal counsel. AMBIPAR EMERGENCY: Plan Exclusivity Period Extended to June 1 ------------------------------------------------------------- Judge Alfredo R. Perez of the U.S. Bankruptcy Court for the Southern District of Texas extended Ambipar Emergency Response's exclusive periods to file a plan of reorganization and obtain acceptance thereof to June 1 and July 1, 2026, respectively. As shared by Troubled Company Reporter, the Debtor explains that it has used its time in chapter 11 to stabilize the operating business of its subsidiaries, protect estate assets, and productively and efficiently to work with its stakeholders and its affiliates (including in the RJ Proceeding) to begin development of a comprehensive restructuring. Accordingly, application of the relevant factors to the facts of this chapter 11 case demonstrates that ample cause exists to grant the reasonable extension of the Exclusivity Periods requested herein. The Debtor claims that the global scope and unusual posture of Ambipar Group's restructuring efforts, involving dual plenary insolvency proceedings in both Brazil and the United States, is sufficient alone to justify a first extension of the Exclusivity Periods. While the Debtor has a limited number of creditors and is party to very few contracts, it is part of the larger Ambipar Group, which is engaged in a complex, multi-jurisdictional restructuring that arose out of a free-fall into court protection. Since the Petition Date, the Debtor, along with the other RJ Parties, has made substantial progress in negotiating a global restructuring with its stakeholders, warranting an extension of the Exclusivity Periods. The Debtor's substantial progress toward a consensual restructuring in working with its creditors and administering its case support the extension of the Exclusivity Periods. The Debtor asserts that it seeks to maintain exclusivity so parties with competing interests do not impede the Debtor's pursuit of emergence from this chapter 11 case. Extending the Exclusivity Periods benefits all parties in interest by preventing the drain on time and resources that inevitably occurs when multiple parties with potentially diverging interests vie for the consideration of their own respective plans. Ambipar Emergency Response is represented by: Jason S. Brookner, Esq. Lydia R. Webb, Esq. Gray Reed 1300 Post Oak Blvd., Suite 2000 Houston, TX 77056 Telephone: (713) 986-7000 Facsimile: (713) 986-7100 Email: jbrookner@grayreed.com lwebb@grayreed.com - and - David R. Zylberberg, Esq. Nicholas E. Baker, Esq. Moshe A. Fink, Esq. Rachael L. Foust, Esq. Zachary J. Weiner, Esq. Simpson Thacher & Bartlett LLP 425 Lexington Avenue New York, NY 10016 Telephone: (212) 455-2000 Facsimile: (212) 455-2502 Email: david.zylberberg@stblaw.com nbaker@stblaw.com moshe.fink@stblaw.com rachael.foust@stblaw.com zachary.weiner@stblaw.com About Ambipar Emergency Response Ambipar Emergency Response (OTCMKTS: AMBWQ) is a global environmental and emergency response firm. Ambipar Emergency Response is a holding company incorporated under the laws of the Cayman Islands. Ambipar Emergency Response became a public company through a de-SPAC transaction, which closed on March 3, 2023. Ambipar Emergency Response sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90524) on October 20, 2025. In its petition, the Debtor reports more than $1 billion in assets and $328.2 million in liabilities. The Honorable Bankruptcy Judge Alfredo R. Perez oversees the Chapter 11 case. The Debtor is represented by Simpson Thacher & Bartlett LLP and Gray Reed & McGraw LLP. Quinn Emanuel Urquhart & Sullivan, LLP serves as counsel to the Independent Special Committee of the Board of Directors of the Debtor. Kurtzman Carson Consultants, LLC DBA Verita Global serves as the Debtor's noticing agent. White & Case LLP represents an ad hoc group of lenders and financing providers. AMC ENTERTAINMENT: Muvico Notes Fully Cancelled in Stock Exchange ----------------------------------------------------------------- AMC Entertainment Holdings, Inc. announced in a regulatory filing that the holders of the Senior Secured Exchangeable Notes due 2030 issued by Muvico, LLC, a wholly owned subsidiary of the Company, and Muvico, completed the previously announced voluntary exchange of Exchangeable Notes for shares of AMC's Class A common stock, par value $0.01 per share, pursuant to the terms of the indenture governing the Exchangeable Notes. As a result, on May 12, 2026, AMC issued 12,421,152 shares of Common Stock to the Exchanging Noteholders (including shares issued in respect of the Exchange Adjustment Consideration (as defined in the Indenture) and accrued and unpaid interest) in exchange for the remaining $13,620,719 aggregate principal amount of Exchangeable Notes. As a result of the Exchange, all remaining Exchangeable Notes were cancelled in accordance with the Indenture. About AMC Entertainment AMC Entertainment Holdings, Inc., is engaged in the theatrical exhibition business. It operates through theatrical exhibition operations segment. It licenses first-run motion pictures from distributors owned by film production companies and from independent distributors. The Company also offers a range of food and beverage items, which include popcorn; soft drinks; candy; hotdogs; specialty drinks, including beers, wine and mixed drinks, and made to order hot foods, including menu choices, such as curly fries, chicken tenders and mozzarella sticks. As of March 31, 2026, the Company had $7,684.8 million in total assets, $9,611.3 million in total liabilities, and $1,926.5 million in total stockholders' deficit. * * * In October 2025, Moody's Ratings assigned Caa2 ratings to AMC Entertainment Holdings, Inc.'s new Senior Secured First-Lien Notes due 2029 (1.5 Notes). Moody's downgraded Muvico, LLC's (Muvico) Backed Senior Secured Second-lien Notes (Existing Exchangeable Notes) rating to Caa3 from Caa2. Moody's affirmed AMC's Caa2 Corporate Family Rating and Caa2-PD Probability of Default Rating, and all other instrument ratings including the B3 on the Senior Secured First-Lien Term Loan at AMC (AMC TL) which is co-borrower with Muvico, the B3 on the Backed Senior Secured First-Lien Notes rating at Odeon Finco PLC (Odeon) (Odeon Notes), the Caa3 rating on the Senior Secured First-Lien Notes (7.5% Notes) at AMC, and the Ca rating on the Senior Subordinated Notes (Sub Notes) of AMC. AMC's Speculative Grade Liquidity Rating (SGL) remains unchanged at SGL-4. The outlook for all Companys remains stable. In July, the Company announced [1] that it entered into a Transaction Support Agreement with key creditor groups, including certain holders of its 7.5% Notes, certain holders of Muvico Existing Exchangeable Notes, and certain lenders representing AMC's TL outstanding under its existing credit agreement. In connection with the agreement, (1) Muvico issued new $194 million (now with $154 million outstanding) 6.00%/8.00% Senior Secured Second-Lien Exchangeable Notes due 2030 (New Exchangeable Notes, unrated) which have a 1.25 lien claim on Muvico assets, effectively a second lien, and (2) AMC issued the 1.5 Notes comprised of approximately $267.0 million of incremental new money financing and an exchange of $590.0 million of 7.5% Notes for a total of approximately $857 million. These lenders have a 1.5 lien on Muvico assets, effectively third claim priority behind the New Exchangeable Notes at Muvico. As a result of the transaction, the 7.5% Notes (with a pro forma debt principal amount totaling approximately $360 million), which did not participate in the exchange for the 1.5 Notes, retained existing terms and conditions (e.g. notably, no lien on Muvico assets) and therefore have lower recovery prospects relative to the New Exchangeable Notes (which have a 1.25 lien on Muvico). In addition, Moody's rank the Existing Exchangeable Notes (with approximately $108 million outstanding) that did not participate in the exchange behind the New Exchangeable Notes and the 1.5 Notes due to a change in the definition of permitted liens to allow superior liens. Moody's expects the New Exchangeable Notes to be fully extinguished in the near term (in a stock exchange) when certain conditions are met (e.g. company stock price reaches a pre-determined level and noteholders elect to exchange). ANNIE EYELASH: Jolene Wee of JW Infinity Named Subchapter V Trustee ------------------------------------------------------------------- The Acting U.S. Trustee for Region 4 appointed Jolene Wee of JW Infinity Consulting, LLC as Subchapter V trustee for Annie Eyelash & Permanent Make Up Salon, Inc. Ms. Wee will be compensated at $660 per hour. In addition, the Subchapter V trustee will receive reimbursement for work-related expenses incurred. Ms. Wee declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Jolene E. Wee JW Infinity Consulting, LLC 447 Broadway 2nd Fl #502 New York, NY 10013 Telephone: (929) 502-7715 Facsimile: (646) 810-3989 Email: jwee@jw-infinity.com About Annie Eyelash & Permanent Make Up Salon Annie Eyelash & Permanent Make Up Salon, Inc. is a beauty and cosmetic services company specializing in eyelash and permanent makeup treatments. Annie Eyelash & Permanent Make Up Salon filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-11104) on May 13, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge David S. Jones presides over the case. Kamini Fox, Esq., at Kamini Fox, PLLC represents the Debtor as legal counsel. APEX PAVERS: Hires Crary Buchanan P.A. as Special Counsel --------------------------------------------------------- Apex Pavers, Inc seeks approval from the U.S. Bankruptcy Court for the southern District of Florida to employ Crary Buchanan, P.A. as special counsel. The firm will assist and advise the Debtor with matters related to (i) construction law and (ii) possible employment-related matters. The firm will be paid at these rates: Scott Turnbull $500 per hour Michael Cristoforo $425 per hour Associate attorneys $300 per hour Paralegals $195 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Scott Turnbull, Esq., a partner at Crary Buchanan, P.A., disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Scott Turnbull, Esq. Crary Buchanan, P.A. 759 SW Federal Highway, Suite 106 Stuart, FL 34994 Tel: (772) 287-2600 About Apex Pavers, Inc Apex Pavers, Inc is a Stuart, Florida-based company that installs and renovates pools and designs and installs paver driveways, patios and walkways. The company maintains a showroom and uses an in-house team for design, construction and project execution, serving residential and commercial clients across South Florida. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-13373) on March 19, 2026. In the petition signed by Ryan Paul Figman, president, the Debtor disclosed $5,182,607 in total assets and $4,665,033 in total liabilities. Judge Erik P. Kimball oversees the case. Craig I. Kelley, Esq., at KELLEY KAPLAN DELANEY & ELLER, PLLC, represents the Debtor as legal counsel. APPLIED ENERGETICS: Launches New Corporate Website, Brand Identity ------------------------------------------------------------------ Applied Energetics, Inc. has launched its new corporate website and refreshed brand identity, marking a significant milestone in the Company's evolution as a next-generation defense technology Company focused on ultrashort pulse laser systems and scalable directed energy solutions. The new website, available at www.appliedenergetics.com, introduces a modernized visual identity and messaging platform designed to better communicate the Company's mission, technological differentiation, and strategic focus on addressing emerging threats in modern conflict environments. Applied Energetics' refreshed brand reflects the Company's core ultrashort pulse laser technology and its critical role in accelerating advanced counter-sensor and counter-autonomy capabilities as warfare rapidly evolves toward increasingly robotic, autonomous, and electronically contested battlefields. "Modern conflict is changing at extraordinary speed," said Chris Donaghey, Chief Executive Officer of Applied Energetics. "The proliferation of drones, autonomous systems, and sophisticated electro-optic sensing has fundamentally altered the battlefield. We believe compact, scalable ultrashort pulse laser systems will become an increasingly important layer of future defense architectures and we are uniquely positioned to deliver it." The Company's new brand emphasizes Applied Energetics' focus on delivering compact, rugged ultrashort pulse laser technology designed to achieve high-intensity effects with dramatically reduced size, weight, and power requirements relative to traditional directed energy systems. The updated website includes expanded information on the Company's technology, mission focus, leadership, and strategic vision, while also highlighting recent technical achievements and ongoing development efforts related to the Company's Pulsed Laser Air Defense ("PLAIDTM") architecture. "Our evolved brand reflects our position at the forefront of defense modernization," said Donaghey. "The integration of autonomous systems, persistent sensing, and electronic warfare requires unprecedented defensive agility. Applied Energetics is pioneering the directed energy architectures needed to disrupt complex adversary threats and protect critical global assets." About Applied Energetics Headquartered in Tucson, Arizona, Applied Energetics, Inc. -- http://www.appliedenergetics.com-- specializes in the development and manufacture of advanced high-performance lasers and optical systems, and integrated guided energy systems, for prospective defense, national security, industrial, biomedical, and scientific customers worldwide. Houston, TX-based RBSM LLP, the Company's auditor since 2016, issued a "going concern" qualification in its report dated March 30, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has suffered recurring losses from operations and will require additional capital to fund its current operating plan, that raises substantial doubt about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $6,629,274 in total assets, $1,513,278 in total liabilities, and $5,115,996 in total stockholders' equity. APPLIED ENERGETICS: Q1 2026 Loss Rises to $3.8 Million ------------------------------------------------------ Applied Energetics, Inc. has filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting a net loss of $3,807,723, an increase of approximately $702,000 compared to a net loss of $3,105,666 for the three months ended March 31, 2025. Revenue decreased by approximately $210,000 to $0 for the three months ended March 31, 2026 from the three months ended March 31, 2025. In April 2025, the Company was notified by a customer that two of its active contracts were currently unfunded and remain unfunded, resulting in a decrease in revenue for the period. Although the contracts remain open, the Company suspended all work until funding is secured in the future. Despite the suspension, the Company continues to advance the underlying technology through its internal research and development efforts. Both the customer and the Company are actively seeking alternative sources of funding, including from within the original contracting agency and other departments of the U.S. Department of War. Liquidity and Capital Resources For the three months ended March 31, 2026, the Company incurred a net loss of approximately $3,808,000, had negative cash flows from operations of approximately $2,296,000 and may incur additional future losses due to the possible reduction in government contract activity and the expenses discussed under Results of Operations. In their report acCompanying the Company's financial statements for the year ended December 31, 2025, the Company's independent auditors stated that the Company's financial statements were prepared assuming that the Company would continue as a going concern and that they have substantial doubt as to the Company's ability to do so for one year from the date the financial statements are issued based on the Company's recurring losses from operations and need to raise additional capital. The financial statements do not include any adjustments relating to the recoverability of assets and the amount or classification of liabilities that might be necessary should the Company be unable to continue as a going concern. At March 31, 2026, the Company had total current assets of approximately $4,649,000 and total current liabilities of approximately $937,000 resulting in working capital of approximately $3,712,000. At March 31, 2026, the Company had approximately $4,064,000 of cash and cash equivalents, a decrease of approximately $2,372,000 from approximately $6,436,000 at December 31, 2025. During the first three months of 2026, the net cash outflow from operating activities was approximately $2,296,000. This amount was comprised primarily of the Company's net loss of approximately $3,808,000, offset by non-cash stock-based compensation expense of approximately $1,348,000, amortization of ROU assets of approximately $70,000, depreciation and amortization of approximately $88,000, and amortization of prepaid assets of approximately $51,000 as well as cash used from changes in assets and liabilities of approximately $46,000 due to a decrease in other assets of approximately $102,000, a decrease in the ROU liability of approximately $75,000 and offset by an increase in accounts payable and accrued liabilities of approximately $131,000. During the first three months of 2026, the net cash outflow from investing activities was approximately $43,000. This was for the purchase of equipment. During the first three months of 2026, the net cash outflow from financing activities was approximately $32,000. This amount consisted of approximately $20,000 received from the exercise of options and warrants offset by approximately $4,700 tax withholdings related to the share settlement of RSUs and approximately $48,000 of repayment of an insurance premium loan. Based on the Company's current business plan, the Company believes its cash balance as of May 14, 2026 will be sufficient to meet the Company's anticipated cash requirements for the near term. However, the Company cannot be certain that the current business plan will be achievable. The Company's existence depends upon management's ability to develop profitable operations. Management is devoting significant time and effort to developing its business and raising capital, as needed, and cannot be certain that these efforts will be successful. Management's business development efforts may not result in profitable operations. To fund its research and development and marketing efforts, the Company's management continues to explore possible financing opportunities through discussions with investment bankers and private investors. The Company may not be successful in its effort to secure additional financing on terms it considers favorable. The acCompanying consolidated financial statements do not include any adjustments that might result should the Company be unable to continue as a going concern. Additionally, international, macroeconomic events, including the military action in the Middle East, the Russian military action in Ukraine and related economic sanctions around the globe could impact the Company's ability to source necessary supplies and equipment which could materially and adversely affect the Company's ability to continue as a going concern. These events may also impair the Company's ability to raise capital, including as a result of increased market volatility, or decreased market liquidity, which also affects the Company's ability to continue as a going concern. Third-party financing may become unavailable on terms acceptable to the Company or at all. The impact of such events on the world economy and the specific impact on the Company's financial position and results of operations are difficult to predict. Budgeting for upcoming expenses and costs of supplies and equipment needed to perform the Company's existing, and any future, grants or contracts requires that the Company estimate factors such as inflation and geo-political events that affect such expenses and costs. Although inflation generally moderated in 2024 and 2025, recent events in the Middle East appeared to be driving it back up during the first quarter of 2026 through the current date. In addition, the cost of labor continues to increase across certain sectors of the US and global economy which may drive up the Company's general and administrative expenses as well as the cost of personnel, particularly given the highly skilled nature of this work. Inflation has also impacted the price of supplies and materials the Company must purchase. In addition, geo-political events have further limited the number of countries from which the Company can source certain supplies and equipment. These limitations can range from outright prohibitions to strong discouragement based on potentially sensitive information. The Company continually monitors these events and the markets for needed supplies in order to make the best estimates possible, both in its internal budgeting and in any bids or proposals it submits. A full text copy of the Company's Form 10-Q is available at https://tinyurl.com/kkwrcjh9 About Applied Energetics Headquartered in Tucson, Arizona, Applied Energetics, Inc. -- http://www.appliedenergetics.com-- specializes in the development and manufacture of advanced high-performance lasers and optical systems, and integrated guided energy systems, for prospective defense, national security, industrial, biomedical, and scientific customers worldwide. Houston, TX-based RBSM LLP, the Company's auditor since 2016, issued a "going concern" qualification in its report dated March 30, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has suffered recurring losses from operations and will require additional capital to fund its current operating plan, that raises substantial doubt about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $6,629,274 in total assets, $1,513,278 in total liabilities, and $5,115,996 in total stockholders' equity. ATARA BIOTHERAPEUTICS: Adage Capital Holds 8.56% Equity Stake ------------------------------------------------------------- Adage Capital Management, L.P., Robert Atchinson, and Phillip Gross, disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of March 31, 2026, they each beneficially own 700,000 shares of Common Stock -- held directly by Adage Capital Partners, L.P., with Adage Capital Management, L.P. acting as investment manager, and with Robert Atchinson and Phillip Gross each acting as managing members of the general partner entities of both Adage Capital Partners, L.P. and Adage Capital Management, L.P. -- of Atara Biotherapeutics, Inc.'s Common Stock, par value $0.0001 per share, representing 8.56% of the 8,178,114 shares of Common Stock outstanding as of March 10, 2026, as reported in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission on March 16, 2026. Adage Capital Management, L.P. may be reached at: 200 Clarendon Street 52nd Floor Boston, MA 02116 Tel: 617-867-2800 A full-text copy of Adage Capital Management's SEC report is available at: https://tinyurl.com/bdhb5hsx About Atara Biotherapeutics Atara Biotherapeutics, Inc. -- http://atarabio.com/-- is a biotechnology Company focused on developing off-the-shelf cell therapies that harness the power of the immune system to treat difficult-to-treat cancers and autoimmune conditions. With cutting-edge science and differentiated approach, Atara is the first Company in the world to receive regulatory approval of an allogeneic T-cell immunotherapy. The Company's advanced and versatile T-cell platform does not require T-cell receptor or HLA gene editing and forms the basis of a diverse portfolio of investigational therapies that target EBV, the root cause of certain diseases, in addition to next-generation AlloCAR-Ts designed for best-in-class opportunities across a broad range of hematological malignancies and B-cell driven autoimmune diseases. Atara is headquartered in Southern California. San Francisco, Calif.-based Deloitte & Touche LLP, the Company's auditor since 2013, issued a "going concern" qualification in its report dated March 16, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that Company's negative cash flow from operations and losses from operations raises substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $20 million in total assets, $57.3 million in total liabilities, and $37.3 million in total stockholders' deficit. ATARA BIOTHERAPEUTICS: Redmile Group Holds 9.9% Equity Stake ------------------------------------------------------------ Redmile Group, LLC, Jeremy C. Green, Redmile Biopharma Investments II, L.P., and Redmile Strategic Long Only Trading Sub, Ltd. disclosed in a Schedule 13D (Amendment No. 2) filed with the U.S. Securities and Exchange Commission that as of May 12, 2026, they beneficially own the following shares of Atara Biotherapeutics, Inc.'s Common Stock, par value $0.0001 per share: * Redmile Group, LLC - 950,994 shares, representing 9.9% of the class. * Jeremy C. Green - 950,994 shares, representing 9.9% of the class. * Redmile Biopharma Investments II, L.P. - 651,924 shares, representing 6.9% of the class. * Redmile Strategic Long Only Trading Sub, Ltd. - 576,148 shares, representing 6.1% of the class. Redmile Group, LLC, may be reached through: Josh Garcia Redmile Group, LLC 900 Larkspur Landing Circle Suite 270 Larkspur, CA, 94939 Tel: (415) 489-9980 A full-text copy of Redmile Group's SEC report is available at: https://tinyurl.com/4932amhp About Atara Biotherapeutics Atara Biotherapeutics, Inc. -- http://atarabio.com/-- is a biotechnology Company focused on developing off-the-shelf cell therapies that harness the power of the immune system to treat difficult-to-treat cancers and autoimmune conditions. With cutting-edge science and differentiated approach, Atara is the first Company in the world to receive regulatory approval of an allogeneic T-cell immunotherapy. The Company's advanced and versatile T-cell platform does not require T-cell receptor or HLA gene editing and forms the basis of a diverse portfolio of investigational therapies that target EBV, the root cause of certain diseases, in addition to next-generation AlloCAR-Ts designed for best-in-class opportunities across a broad range of hematological malignancies and B-cell driven autoimmune diseases. Atara is headquartered in Southern California. San Francisco, Calif.-based Deloitte & Touche LLP, the Company's auditor since 2013, issued a "going concern" qualification in its report dated March 16, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that Company's negative cash flow from operations and losses from operations raises substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $20 million in total assets, $57.3 million in total liabilities, and $37.3 million in total stockholders' deficit. AVITA MEDICAL: Net Loss Narrows to $10.6 Million in Q1 2026 ----------------------------------------------------------- AVITA Medical, Inc. it has filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting a net loss of $10.6 million for the three months ended March 31, 2026, compared to a net loss of $13.9 million for the same period in the prior year. Revenues for the three months ended March 31, 2026 were $19.3 million, compared to $18.5 million in the prior-year period. Liquidity and Capital Resources The Company's Consolidated Financial Statements have been prepared on the basis that it will continue as a going concern for the next 12 months. The Company had approximately $8.3 million in cash and cash equivalents and $6.0 million in marketable securities as of March 31, 2026. The Company has funded its research and development activities, and more recently its substantial investment in sales and marketing activities, through the sale of its products, the issuance of equity securities, and debt financing. If capital is not available to the Company when amounts are needed, it could be required to delay, scale back or abandon commercial activities and development programs and other operations, which could adversely impact its business, financial condition, and operating results. Based on its liquidity position and current forecast of operating results and cash flows, management determined there is substantial doubt about the Company's ability to continue as a going concern over the next 12 months, due to its debt repayment obligations, historical negative cash flows, and recurring losses. As a result, the Company may require additional liquidity to continue its operations over the next twelve months. On January 13, 2026, the Company entered into a Credit Agreement and Guaranty, and Security Agreement, by and among the Company, as borrower, Avita Medical Americas, LLC, a wholly-owned subsidiary of the Company, as guarantor and Perceptive Credit Holdings V, LP as a lender and the administrative agent. The Credit Agreement provides for a five-year senior secured credit facility in an aggregate principal amount of up to $60 million, of which: (i) $50 million was funded on the Closing Date and (ii) $10 million will be made available, at the Company's discretion by notice to the Administrative Agent on or before March 31, 2027, subject to satisfaction of a certain net revenue requirement. On the Closing Date, the Company closed on the Initial Commitment Amount, less certain fees and expenses payable to or on behalf of the Lender. Simultaneously with the closing of the Initial Commitment Amount, the Company repaid in full and terminated all of its obligations and commitments under its previous credit agreement. During the term of the Loan Facility, interest payable in cash shall accrue on any outstanding amounts under the Loan Facility at a rate per annum equal to the greater of (x) the SOFR rate for such period, and (y) 4.00% plus, in either case, 7.50%. Upon the occurrence and during the continuance of an event of default, any outstanding amount under the Loan Facility will bear interest at a rate of 4% in excess of the otherwise applicable rate of interest. On the Closing Date, the Company agreed to issue, subject to shareholder approval, warrants to purchase up to 650,000 shares of Common Stock, par value $0.0001 per share, at an exercise price set at the lower of two 10-day VWAPs: (i) the 10-day VWAP ending on the business day immediately prior to the Closing Date (i.e., 12 January 2026), which VWAP is $3.4019; or (ii) the 10-day VWAP ending on the business day immediately prior to the issuance date of the warrants. Under the terms of the Credit Agreement, and as set forth in a fee letter between the Company, and the Lender and the Administrative Agent, the Company will pay certain fees with respect to the Loan Facility, including: (a) an exit fee equal to 5% of the aggregate principal amount borrowed by the Company under the Credit Agreement in the event that the Company fails to secure shareholder approval of the issuance of the Perceptive Warrants in accordance with the rules of the ASX on or prior to September 30, 2026, and (b) a prepayment premium ranging from 1% to 10% of the amount of the Loan Facility that is prepaid upon any voluntary or mandatory prepayment (including as a result of an acceleration), together with certain other fees and expenses of the Lender. The Credit Agreement contains certain customary events of default, including with respect to nonpayment of principal, interest, fees or other amounts; material inaccuracy of a representation or warranty; failure to perform or observe covenants; material defaults on other indebtedness; insolvency; loss of certain key permits, persons and contracts; material adverse effects; certain regulatory matters; and change of control. Additionally, the Company's failure to obtain Warrant Shareholder Approval on or prior to November 30, 2026 shall constitute an event of default under the Credit Agreement. The Credit Agreement contains a number of customary representations, warranties and covenants that, among other things, will limit or restrict the Company's ability to (subject to certain qualifications and exceptions): create liens and encumbrances; incur additional indebtedness; merge, dissolve, liquidate or consolidate; make acquisitions, investments, advances or loans; dispose of or transfer assets; pay dividends or make other payments in respect of their capital stock; redeem or repurchase certain debt; engage in certain transactions with affiliates; and enter into certain restrictive agreements. Among such covenants, the Credit Agreement includes a financial maintenance test that requires the Company to maintain a specified minimum net revenue for each trailing twelve-month period ending on the last day of a fiscal quarter occurring prior to the maturity date of the Loan Facility with the first such test occurring as of the fiscal quarter ended March 31, 2026. In addition, the Credit Agreement requires the Company to maintain in the aggregate at least $5 million of unrestricted cash at all times. Pursuant to the Security Agreement, all obligations under the Credit Agreement are guaranteed and secured by substantially all of the Company's assets. Cary Vance, President and Chief Executive Officer of AVITA Medical, commented: "Since November, we've stabilized the business, improved how we operate, and delivered a solid start to 2026. With sequential revenue growth and improving ordering patterns across the portfolio, we are focused on delivering sustained performance as we move through the year. At April's American Burn Association annual meeting, it was exciting to see how our products, RECELL, Cohealyx and PermeaDerm(R), are delivering meaningful outcomes for clinicians and their patients. I am incredibly proud and excited to lead AVITA as we continue to build towards the future of wound care." David O'Toole, Chief Financial Officer, commented: "First quarter results reflect continued progress against the cost optimization initiatives implemented in 2025, with operating expenses down meaningfully year-over-year. We are also operating well within the framework of our recently refinanced credit facility, with terms aligned to our current revenue trajectory and providing increased flexibility as we execute. As expected, net cash use was higher in the first quarter, driven by seasonal compensation and other one-time payments, and further elevated by the timing of revenue and collections. Cash receipts lag revenue, and with a greater proportion of product sales occurring later in the first quarter, the contribution from collections within the period was reduced, and our cash use for the first quarter was negatively impacted. As we move into the second quarter, these timing dynamics have reversed. Seasonal and one-time items are completed, and collections from strong late-first quarter revenue and early-second quarter sales activity are driving higher cash receipts. Combined with ongoing cost discipline, this gives us confidence in a significant decrease in cash use in the second quarter." Financial Guidance AVITA Medical is reaffirming its full-year 2026 guidance, reflecting confidence in continued execution and improving commercial momentum: Full year 2026 revenue expected in the range of $80 to $85 million, representing growth of approximately 12% to 19% compared to 2025 revenue. A full text copy of the Company's Form 10-Q is available at https://tinyurl.com/peykxz4y. About Avita Medical, Inc. AVITA Medical, Inc. and its subsidiaries is a leading therapeutic acute wound care Company delivering transformative solutions. The Company's technologies are designed to optimize wound healing, effectively accelerating the time to patient recovery. The Company's solutions improve the healing outcomes for patients with traumatic injuries and surgical repairs, addressing critical healing needs that arise from unpredictable and life-changing events. At the forefront of the Company's portfolio is the patented and proprietary RECELL(R) System, approved by the U.S. Food and Drug Administration for the treatment of thermal burn wounds and full-thickness skin defects. RECELL harnesses the healing properties of a patient's own skin to create an autologous skin cell suspension, Spray-On Skin(TM) Cells, offering an innovative solution for improved clinical outcomes at the point-of-care. Newport Beach, California-based Grant Thornton LLP, the Company's auditor since 2020, issued a "going concern" qualification in its report dated February 12, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has current debt service obligations and has incurred historical negative cash flows and recurring losses. These conditions, along with other matters, raise substantial doubt about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $51.5 million in total assets, $74.7 million in total liabilities, and $23.2 million in total stockholders' deficit. AZHAR CHAUDHARY: Unsecureds to Get 54.71 Cents on Dollar in Plan ---------------------------------------------------------------- Azhar Chaudhary Law Firm PC filed with the U.S. Bankruptcy Court for the Southern District of Texas a Small Business Plan of Reorganization under Subchapter V dated May 11, 2026. The Debtor is a professional corporation incorporated under the laws of the State of Texas. Since 2013, the Debtor is a law firm providing legal services primarily in the representation of parties in civil and commercial litigation. The Debtor's sole member is Azhar Chaudhary, an attorney licensed by the State of Texas. The Debtor utilizes an executive suite located at 440 Louisiana Suite 900, Houston, TX 77002 to meet with clients and to receive mail and deliveries. Mr. Chaudhary maintains an office at his home where he performs the legal services for the Debtor's clients. The primary event leading to the filing of the Debtor's bankruptcy case was the nonpayment of earned legal fees by two of the Debtor's major clients. The Debtor represented both clients in extensive litigation in various forums which precluded the Debtor from accepting other high paying clients. The unpaid fees owed by one client was approximately $2,000,000.00 and the other client approximately $900,000.00. The Debtor considers these accounts as uncollectible. The Plan Proponent's financial projections show that the Debtor will have projected disposable income of $6,000.00. The final Plan payment is expected to be paid on July 1, 2029. This Plan of Reorganization proposes to pay creditors of Azhar Chaudhary Law Firm P.C. from the monthly business income of the Debtor. Non-priority unsecured creditors holding allowed claims will receive distributions, which the proponent of this Plan have valued at approximately 54.71 cents on the dollar. This Plan also provides for the payment of administrative and priority claims. Class 5 consists of Non-priority Unsecured Creditors. The total of the undisputed claims is $335,027.27. In full satisfaction of their claims, the Debtor shall pay to each Claim Holder of an Allowed Unsecured Claim, on a pro rata basis, the amount of the Debtor's Projected Disposable Income of $5,091.48 for thirty-six months commencing on the Effective Date of the Plan. This Class is impaired. Class 6 consists of Equity security holder of the Debtor. The holder of this Class is Azhar M. Chaudhary. The Interest Holder shall retain his interest in the Debtor, as the Reorganized Debtor, subject to and remaining after the payment of all administrative expense claims and the satisfaction of all claims in Classes 1 through 5. On the Effective Date of the Plan all assets of the estate of the Debtor, including but limited to all estate actions, shall vest in the Reorganized Debtor. Except as expressly provided in the Plan, all assets of the Debtor shall vest free and clear of all claims, interest and liens or successor liability claims of the Debtor, which shall be owned and controlled as set forth in the Plan. The source of the funding for the Plan is the future income the Debtor projects will receive from the operation of the Debtor's law office. In the event the Debtor receives payment on its claims against Hamad Ali, Wayne Dolcefino and/or Dolcefino Consulting LLC, any such recovery shall first be distributed to satisfy any unpaid administrative expenses. The remaining amount shall be distributed, pro rata, to the Class 5 Allowed Claims as additional distributions to the distributions provided for in Article 4 of the Plan up to the amount of the Claim Holders' Allowed Claims. In the event there are funds remaining after paying Class 5 Claim Holders the full amount of their Allowed Claims, the Claim Holders shall also receive interest on their Allowed Claims under the Federal judgment interest rate. A full-text copy of the Plan of Reorganization dated May 11, 2026 is available at https://urlcurt.com/u?l=3RHAAM from PacerMonitor.com at no charge. Counsel to the Debtor: David L. Venable, Esq. 13201 Northwest Freeway, Suite 800 Houston, TX 77040 Telephone: (713) 956-1400 Facsimile: (713) 983-8285 E-mail: david@dlvenable.com About Azhar Chaudhary Law Firm PC Azhar Chaudhary Law Firm, PC is a law firm providing legal services primarily in the representation of parties in civil and commercial litigation. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 26-30895) on February 10, 2026, with between $1 million and $10 million in both assets and liabilities. Judge Eduardo V. Rodriguez presides over the case. David L. Venable, Esq. represents the Debtor as legal counsel. BASECOAT ON FIFTH: Steven Altmann Named Subchapter V Trustee ------------------------------------------------------------ The U.S. Bankruptcy Administrator for the Northern District of Alabama appointed Steven Altmann, Esq., at Nomberg Law Firm as Subchapter V trustee for Basecoat on Fifth, LLC. Mr. Altmann 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. Altmann declared that he does not have an interest materially adverse to the interest of the Debtor's estate, creditors or equity security holders. The Subchapter V trustee can be reached through: The Nomberg Law Firm 3940 Montclair Rd, Suite 401 Birmingham, AL 35213 Phone: (205) 346-6023 / (205) 930-6900 steve@nomberglaw.com About Basecoat on Fifth LLC Basecoat on Fifth, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ala. Case No. 26-01671) on May 12, 2026, with up to $50,000 in both assets and liabilities. Judge D. Sims Crawford presides over the case. Robert C. Keller, Esq., at Russo, White & Keller represents the Debtor as legal counsel. BEACON LIGHT: Claims to be Paid from Disposable Income ------------------------------------------------------ Beacon Light Baptist Church of Houma, LA filed with the U.S. Bankruptcy Court for the Eastern District of Louisiana a Plan of Reorganization under Subchapter V dated May 13, 2026. The Debtor is a Non-Profit Religious Corporation domiciled in Louisiana with its principal places of business located in Gray, Louisiana. The Debtor is a church that operates a word and love-centered ministry designed to evangelize the lost at any cost, equip and empower the people of God, and provide ministry to the community. The Debtor is the owner of an approximately 24,000 square foot building utilized for worship services located at 4325 West Park Avenue, Gray, Louisiana 70359 (the "Property"). On August 29, 2021, the Property received substantial damage from Hurricane Ida. In connection with the repairs, the Debtor initiated litigation against Good2Go Roofing and Construction, LLC. An arbitration award was confirmed as a judgment on February 16, 2024, against the Debtor and Pastor Andrew in the amount of $398,637.19, along with judicial interest in favor of Good2Go. This case was commenced under Subchapter V of Chapter 11 of the Bankruptcy Code. This Subchapter enables small business debtors such as the Debtor to more effectively reorganize in Chapter 11. Under this Plan, the Debtor intends to distribute cash generated from donations and contributions. Class 4 relates to general unsecured claims. The Debtor will make 12 quarterly payments over the life of the Plan in the amount of $2,807.00 with payments commencing at the end of the second full quarter after the Effective Date. Holders of General Unsecured Claim includes Uline ($436.74); First Bank Card Visa ($21,476.85); and Good2Go ($437,593.24). This Class is impaired. The Debtor will fund its plan payments from its disposable income earned from its operations. The Debtor bases its projected disposable income on historical data, and the management's experience. A full-text copy of the Plan of Reorganization dated May 13, 2026 is available at https://urlcurt.com/u?l=LRaBGu from PacerMonitor.com at no charge. Counsel for the Debtor: Douglas S. Draper, Esq. Greta M. Brouphy, Esq. Michael E. Landis, Esq. Lugenbuhl, Wheaton, Peck, Rankin & Hubbard (A Law Corporation) 601 Poydras Street, Suite 2755 New Orleans, LA 70130 Telephone: (504) 568-1990/Fax: (504) 310-9195 About Beacon Light Baptist Church of Houma LA Beacon Light Baptist Church of Houma LA, located in Gray, Louisiana, operates as a nonprofit religious organization providing Christian worship services, educational programs, and community outreach activities. The church offers Sunday services, Bible study, and virtual worship through online platforms. It serves the Houma-Terrebonne Parish community as part of the broader Beacon Light ministry network. Beacon Light Baptist Church of Houma LA sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. La. Case No. 25-12347) on October 17, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtor is represented by Douglas S. Draper, Esq. of HELLER, DRAPER & HORN, LLC. BLACK BUFFALO: Asset Auction Scheduled for June 5, 2026 ------------------------------------------------------- On April 21, 2026, Black Buffalo 3D Corporation (the "Debtor") filed the Debtor's Motion for Entry of Orders: (I)(A) Approving Bidding Procedures and Protections In Connection with a Sale of Substantially All of Debtor's Assets Free and Clear of Liens, Claims, Encumbrances and Interests; (B) Authorizing the Debtor to Designate a Stalking Horse Bid; (C) Scheduling an Auction and Sale Hearing; (D) Approving the Form and Manner of Notice Thereof; and (E) Approving Procedures Related to Assumption and Assignment of Certain Executory Contracts and Leases; (II)(A) Authorizing the Sale of Substantially All of Debtor's Assets Pursuant to Successful Bidder(s)' Asset Purchase Agreement(s), Free and Clear of Liens, Claims, Encumbrances, and Other Interests; and (B) Approving Assumption and Assignment of Certain Executory Contracts and Leases; and (III) Granting Related Relief (the "Motion") with the United States Bankruptcy Court for the District of Delaware (the "Court") seeking, among other things, entry of an order (the "Sale Order") authorizing and approving: (a) the sale of substantially all of the Debtor's assets (the "Assets") free and clear of liens, claims, encumbrances, and other interests (the "Sale"); and (b) the assumption and assignment of certain executory contracts and unexpired leases (collectively, the "Contracts"). The Debtor is soliciting offers for the Assets consistent with the bidding procedures (the "Bidding Procedures") approved by the Court by entry of an order on May 8, 2026 (the "Bidding Procedures Order"). All interested bidders should carefully read the Bidding Procedures and Bidding Procedures Order. To the extent that there are any inconsistencies between this notice and the Bidding Procedures or Bidding Procedures Order, the Bidding Procedures Order shall govern in all respects. If the Debtor receives qualified competing bids within the requirements and time frame specified by the Bidding Procedures, the Debtor will conduct an auction of the Assets on June 5, 2026 at 10:00 a.m. (prevailing Eastern time), at the offices of Ballard Spahr LLP, 222 Delaware Avenue, 10th Floor, Wilmington, DE 19801, or such other place (including by videoconference) as the Debtor shall notify all proposed attendees. The Debtor will seek approval of the Sale at a hearing scheduled to commence on or before June 15, 2026, at 2:00 p.m. (prevailing Eastern Time) (the "Sale Hearing") before the Honorable Thomas M. Horan, United States Bankruptcy Judge for the Bankruptcy Court for the District of Delaware, 824 North Market Street, 3rd Floor, Wilmington, DE 19801. Except as otherwise set forth in the Bidding Procedures Order with respect to any objections to proposed cure amounts or the assumption and assignment of Contracts, objections to the relief requested in the Motion must: (a) be in writing; (b) conform to the applicable provisions of the Bankruptcy Rules and the Local Rules; (c) state with particularity the legal and factual bases for the objection and the specific grounds therefor; and (d) be filed shall be filed with the Court and served on the following parties (collectively, the "Objection Notice Parties"), by no later than June 2, 2026, at 4:00 p.m. (prevailing Eastern Time) (the "Sale Objection Deadline"): (1) Counsel for the Debtor: Ballard Spahr LLP, 222 Delaware Avenue, 10th Floor, Wilmington, DE, 19801, Attn: Laurel D. Roglen (roglenl@ballardspahr.com) and Nicholas J. Brannick (brannickn@ballardspahr.com); (2) counsel for the DIP Lender, Norton Rose Fulbright Canada LLP, 222 Bay Street, Suite 3000, Toronto, ON M5K 1E7 Canada, Attn: Eric Reither (eric.reither@nortonrosefulbright.com) and Julie Harrison (julie.harrison@nortonrosefulbright.com), and Womble Bond Dickinson (US) LLP, 1313 North Market Street, Suite 1200, Wilmington, DE 19801, Attn: Matthew Ward (matthew.ward@wbdus.com); (3) counsel to All Dimension, Moritt Hock & Hamroff LLP, 400 Garden City Plaza, 2nd Floor, Garden City, NY 11530, Attn: Theresa A. Driscoll (tdriscoll@moritthock.com); and (4) The Office of the U.S. Trustee, 844 King Street, Suite 2207, Lockbox 35, Wilmington, DE 19801, Attention: Joseph J. McMahon, Jr. (Joseph.McMahon@usdoj.gov). CONSEQUENCES OF FAILING TO TIMELY MAKE AN OBJECTION. ANY PARTY OR ENTITY WHO FAILS TO TIMELY MAKE AN OBJECTION TO THE SALE ON OR BEFORE THE SALE OBJECTION DEADLINE IN ACCORDANCE WITH THE BIDDING PROCEDURES ORDER SHALL BE FOREVER BARRED FROM ASSRTING ANY OBJECTION TO THE SALE, INCLUDING WITH RESPECT TO THE TRANSFER OF THE DEBTOR'S ASSETS FREE AND CLEAR OF ALL LIENS, CLAIMS, ENCUMBRANCES, AND OTHER INTERESTS, EXCEPT AS SET FORTH IN THE APPLICABLE PURCHASE AGREEMENT. Copies of the Motion, Bidding Procedures, and Bidding Procedures Order, as well as all related exhibits are available for a fee via PACER by visiting https://ecf.deb.uscourts.gov. Counsel to the Debtor: Laurel D. Roglen, Esq. Nicholas J. Brannick, Esq. 222 Delaware Avenue, 10th Floor Wilmington, DE 19801 Telephone: (302) 252-4465 E-mail: roglenl@ballardspahr.com E-mail: brannickn@ballardspahr.com About Black Buffalo 3D Black Buffalo 3D Corporation develops and supplies large-scale 3D construction printing systems, proprietary cement-based printing materials, and related training and consulting services. The Union, New Jersey-based company offers the NEXCON line of 3D construction printers used to produce code-compliant structural walls and building components for onsite and offsite construction. It operates globally in the construction technology and additive manufacturing industry, serving developers, contractors, governments, and non-governmental organizations. Black Buffalo 3D filed Chapter 11 petition (Bankr. D. Del. Case No. 25-12270) on Dec. 24, 2025, listing between $1 million and $10 million in both assets and liabilities. Judge Thomas M. Horan oversees the case. Laurel D. Roglen, Esq., at Ballard Spahr, LLP is the Debtor's counsel. BOWERY SHED: Seeks Subchapter V Bankruptcy in New York ------------------------------------------------------ On May 19, 2026, Bowery Shed LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of New York. According to court filings, the debtor reports between $1 million and $10 million in liabilities owed to between 1 and 49 creditors. A meeting of creditors under Section 341(a) to be held on June 23, 2026 at 01:00 PM at Zoom.us - USTrustee 6: Meeting ID 160 6479 0874, Passcode 6789012456, Phone 1 (202) 798-4458. Deadline to file of Chapter 11 Small Business Subchapter V plan set for August 17, 2026. About Bowery Shed LLC Bowery Shed LLC is a limited liability company. Bowery Shed LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11182) on May 19, 2026. In its petition, the debtor reported estimated assets ranging from $1 million to $10 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge John P. Mastando III handles the case. The debtor is represented by Dawn Kirby of Kirby Aisner & Curley LLP. BRASS WORKS: Case Summary & Five Unsecured Creditors ---------------------------------------------------- Debtor: Brass Works Urban Renewal Company, LLC 300 Coles Street, Suite 2 Jersey City, NJ 07310 Business Description: Brass Works Urban Renewal Company, LLC is a Jersey City, New Jersey-based real estate company associated with The Cliffs Lofts, a 120-unit residential building in Jersey City. Chapter 11 Petition Date: May 22, 2026 Court: United States Bankruptcy Court District of New Jersey Case No.: 26-15809 Debtor's Counsel: Andreas Koutsoudakis, Esq. DAVIDOFF HUTCHER & CITRON LLP 605 Third Avenue New York, NY 10158 Tel: 212-557-7200 Fax: 212 286 1884 E-mail: aak@dhclegal.com Estimated Assets: $50 million to $100 million Estimated Liabilities: $10 million to $50 million The petition was signed by Robert M. Greer as manager. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/MPL5V2Y/Brass_Works_Urban_Renewal_Company__njbke-26-15809__0001.0.pdf?mcid=tGE4TAMA List of Debtor's 10 Unsecured Creditors: Entity Nature of Claim Claim Amount 1. ASVRF Paterson Unknown Plank RD J-C, LLC 515 S. Flower Street 49th Floor Attn: Kirk Helgsen Los Angeles, CA 90071 2. Connell Foley LLP Legal Fees $200,000 185 Hudson Street Suite 2510 Jersey City, NJ 07311 3. Loeb & Loeb LLP Legal Fees $191,429 345 Park Avenue Attn: Evan Farber, Esq. New York, NY 10154 4. Prestige Environmental Inc. Services $86,459 220 Davidson Avenue Rendered Suite 307 Somerset, NJ 08873 5. Reed Smith Legal Fees $500,000 1717 Arch Street Suite 3100 Attn: Nick Rodrigues, Esq. Philadelphia, PA 19103 BRASS WORKS: Secured Party Sets July 24, 2026 Public Auction ------------------------------------------------------------ In accordance with applicable provisions of the Uniform Commercial Code as enacted in New York, ASVRF Paterson Plank RD J-C, LLC ("Secured Party"), will sell the collateral consisting of all the right, title, and interest of Brass Works Urban Renewal Company, LLC ("Debtor"), in and to (i) the equity membership interest in Paterson Plank RD J-C, LLC, a Delaware limited liability company (the "Company"), (ii) all other limited liability company interests in the Company, including any economic interest, right to share in the income, gains, losses, deductions, credit, or similar items of, and to receive distributions from, the Company, any right to vote and right to receive information concerning the business and affairs of the Company, and (iii) all other collateral pledged by Debtor under the Transaction Documents (as defined in the Notice of Disposition (as hereinafter defined)) (collectively, the "Collateral"), to the highest qualified bidder at a public sale in accordance with the applicable law. The Company is the sole member of Paterson Plank RD J-C Owner, LLC, a Delaware limited liability company, which owns certain property and improvements located at 100 Paterson Plank Road, Jersey City, NJ. The sale will take place beginning at 10:00 a.m. on July 24, 2026, via a web-based video conferencing and/or telephonic conferencing program selected by Secured Party, as well as in person at Adler & Stachenfeld LLP, located at 555 Madison Avenue, 6th Floor, New York, New York 10022, Attention: Kirk Brett, Esq. Remote log-in credentials will be provided to registered bidders upon request. The Collateral will be sold to the highest Qualified Bidder, as that term is defined in the Terms of Sale (the "Terms of Sale") attached to the Notice of Disposition of Collateral, dated April 29, 2026 (the "Notice of Disposition"); provided, however, that Secured Party reserves the right to cancel the sale in its entirety or to adjourn the sale to a future date. The sale will be conducted by Mannion Auctions, LLC, by Matthew D. Mannion, Lead Auctioneer, NYC DCA License No. 1434494, with an office at 299 Broadway, Suite 1601, New York, New York 10007. The Collateral will be sold as a block and will not be divided or sold in any lesser amounts. Interested parties that intend to bid on the Collateral must contact Secured Party's broker, Brock Cannon, at (646) 315-4785 or Brock.Cannon@nmrk.com to receive the Terms of Sale and bidding instructions. Upon execution of a Terms of Access and Non-Disclosure Agreement, in a form to be provided by counsel for Secured Party, additional documentation and information will be available. Interested parties that are not Qualified Bidders, as that term is defined in the Terms of Sale, will not be permitted to enter a bid. BRIDGE TO ADULTHOOD: Plan Exclusivity Period Extended to July 21 ---------------------------------------------------------------- Judge Joan A. Lloyd of the U.S. Bankruptcy Court for the Western District of Kentucky extended Bridge to Adulthood, LLC's exclusive periods to file a plan of reorganization and obtain acceptance thereof to July 21 and Sept. 19, 2026, respectively. As shared by Troubled Company Reporter, the Debtor seeks an extension of its exclusivity period for filing and soliciting acceptances of a plan. Debtor and its professionals need additional time to gather and analyze relevant data for purposes of proposing a feasible and confirmable chapter 11 plan. The Debtor explains that Louise Smith is its largest creditor holding a judgment totaling approximately $4.5 million. Special Counsel to the Debtor has appealed that judgment in the Kentucky Court of Appeals. The appeal was temporarily stayed by the bankruptcy filing but has been returned to the active docket. Briefing has not begun. Moreover, if the Debtor prevails in whole or in part, it will have a significant impact on plan payments. Debtor is working with Special Counsel and the undersigned Counsel to create potential outcomes and corresponding financial projections. Bridge to Adulthood LLC is represented by: Charity S. Bird, Esq. Tyler R. Yeager, Esq. J. Gabriel Dennery, Esq. KAPLAN JOHNSON ABATE & BIRD LLP 710 W. Main St., 4th Floor Louisville, KY 40202 Telephone: (502) 416-1630 E-mail: cbird@kaplanjohnsonlaw.com tyeager@kaplanjohnsonlaw.com gdennery@kaplanjohnsonlaw.com About Bridge to Adulthood LLC Bridge to Adulthood LLC provides residential and community-based support services for individuals with intellectual and developmental disabilities in Kentucky. The Company participates in state Medicaid waiver programs, including the Michelle P. Waiver for children and teenagers and the Supports for Community Living program for adults, offering alternatives to institutional care. Its services include residential care, in-home and community support, and animal therapy, with operations centered at its facility in Allensville. Bridge to Adulthood LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Ky. Case No. 25-10810) on Sept. 23, 2025. In its petition, the Debtor reports estimated estimated assets between $100,000 and $500,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Joan A. Lloyd handles the case. The Debtor tapped Charity S. Bird, Esq., at Kaplan Johnson Abate & Bird LLP as bankruptcy counsel and Gray Ice Higdon, PLLC as special counsel. BRIGHT BEGINNINGS: Hires C. Conde & Associates as Legal Counsel --------------------------------------------------------------- Bright Beginnings Day Care Center and Learning Academy Corp seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to hire C. Conde & Associates as its legal counsel. The firm will render these services: (a) advise the Debtor with respect to its duties, powers and responsibilities in this case under the laws of the United States and Puerto Rico in which the Debtor conducts operations, does business, or is involved in litigation; (b) advise the Debtor in connection with a determination whether a reorganization is feasible and, if not, help the Debtor in the orderly liquidation of its assets; (c) assist the Debtor with respect to negotiations with creditors for the purpose of arranging the orderly liquidation of assets and proposing a viable plan of reorganization; (d) prepare on behalf of the Debtor the necessary complaints, answers, orders, reports, memoranda of law and any legal papers or documents; (e) appear before the Bankruptcy Court, or any court in which the Debtor asserts a claim interest or defense directly or indirectly related to this bankruptcy case; (f) perform other services as may be required; (g) provide any and all notary services allowed under Notary Law; and (h) employ other professional services, if necessary. The firm will charge these hourly rates: Carmen Conde Torres, Esq. $400 Associates $350 Junior Attorney $300 Legal Assistants $150 Conde received a retainer of $15,000 from the Debtor, plus $1,738 filing fee. Carmen Conde Torres, Esq., disclosed in a court filing that she and other employees of the firm do not represent or hold any interest adverse to the Debtor and its estate. The firm can be reached through: Carmen D. Conde Torres, Esq. C. Conde & Associates 254 San Jose Street, 5th floor Old San Juan, PR 00901 Tel: (787) 729-2900 Fax: (787) 729-2203 Email: condecarmen@condelaw.com About Bright Beginnings Day Care Center and Learning Academy Corp Bright Beginnings Day Care Center and Learning ACA filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.P.R. Case No. 26-02112) on May 8, 2026, listing up to $50,000 in assets and $500,001 to $1 million in liabilities. Judge Mildred Caban Flores presides over the case. Carmen D. Conde Torres, Esq. at C. Conde & Associates serves as the Debtor's counsel. CARDIFF LEXINGTON: Net Loss Surges 586.94% to $3.1MM in Q1 2026 --------------------------------------------------------------- Cardiff Lexington Corporation has filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting a net loss of $3,092,074 for the three months ended March 31, 2026, as compared to $450,777 for the three months ended March 31, 2025, an increase in loss of $2,641,297, or 585.94%. For the three months ended March 31, 2026 and 2025 all revenue was generated by the Company's healthcare segment, which generates revenue through a full range of diagnostic and surgical services. Total revenue decreased by $693,287, or 23.78%, to $2,222,280 for the three months ended March 31, 2026 from $2,915,567 for the three months ended March 31, 2025. The decrease in revenue is mainly attributable to a decrease in surgical procedures services in the first quarter of 2026 from the first quarter of 2025 and due to the decrease in the realization rate to 41% in the first quarter of 2026 from 44% the first quarter of 2025. The Company had sustained operating losses since its inception and has an accumulated deficit of $82,855,513 and $79,490,980 as of March 31, 2026 and December 31, 2025, respectively. The Company had negative cash flow from operations of $16,730 and $491,420 for the three months ended March 31, 2026 and 2025, respectively. These factors raise a substantial doubt about the Company's ability to continue as a going concern. Liquidity and Capital Resources As of March 31, 2026, the Company had $683,507 in cash. To date, the Company has financed its operations primarily through revenue generated from operations, sales of securities, advances from stockholders and third-party and related party debt. The Company believes, based on its operating plan, that current working capital and current and expected additional financing should be sufficient to fund operations and satisfy its obligations as they come due for at least one year from the financial statement issuance date. However, additional funds from new financing and/or future equity raises are required for continued operations and to execute its business plan and its strategy of acquiring additional businesses. The funds required to sustain operations range between $600,000 to $1 million and additional funds to execute the Company's business plan will depend on the size, capital structure and purchase price consideration that the seller of a target business deems acceptable in a given transaction. The amount of funds needed to execute the Company's business plan also depends on what portion of the purchase price of a target business the seller of that business is willing to take in the form of seller notes or the Company's equity or equity in one of its subsidiaries. Given these factors, the Company believes that the amount of outside additional capital necessary to execute its business plan on the low end (assuming target company sellers accept a significant portion of the purchase price in the form of seller notes or the Company's equity or equity in one of its subsidiaries) ranges between $5 million to $10 million. If, and to the extent, that sellers are unwilling to accept a significant portion of the purchase price in seller notes and equity, then the cash required to execute the Company's business plan could be as much as $10 million. The Company intends to raise capital for additional acquisitions primarily through equity and debt financings. The sale of additional equity securities could result in dilution to the Company's stockholders. The incurrence of indebtedness would result in increased debt service obligations and could require the Company to agree to operating and financial covenants that would restrict its operations. Financing may not be available in amounts or on terms acceptable to the Company, if at all. There is no guarantee that the Company will be able to acquire additional businesses under these terms. The Company's ability to continue as a going concern and the appropriateness of using the going concern basis is dependent upon, among other things, additional cash infusions. The Company has prospective investors and believes the raising of capital will allow it to fund its cash flow shortfalls and pursue new acquisitions. There can be no assurance that the Company will be able to obtain sufficient capital from debt or equity transactions or from operations in the necessary time frame or on terms acceptable to it. Should the Company be unable to raise sufficient funds, it may be required to curtail its operating plans. In addition, increases in expenses may require cost reductions. No assurance can be given that the Company will be able to operate profitably on a consistent basis, or at all, in the future. Should the Company not be able to raise sufficient funds, it may cause cessation of operations. A full text copy of the Company's Form 10-Q is available at https://tinyurl.com/yeyjpzrf About Cardiff Lexington Headquartered in Las Vegas, Nevada, Cardiff Lexington Corporation is an acquisition holding Company focused on locating undervalued and undercapitalized companies, primarily in the healthcare industry, and providing them capitalization and leadership to maximize the value and potential of their private enterprises while also providing diversification and risk mitigation for its stockholders. Specifically, the Company has and will continue to look at a diverse variety of acquisitions in the healthcare sector in terms of growth stages and capital structures, and it intends to focus its portfolio of subsidiaries approximately as follows: 80% will be targeted to established profitable niche small to mid-sized healthcare companies and 20% will be targeted to second stage startups in healthcare and related financial services (emerging businesses with a strong organic growth plan that is materially cash generative). Hacker, Johnson & Smith PA, the Company's independent registered public accounting firm since 2024 and headquartered in Columbus, Ohio, included an explanatory paragraph in its audit report dated March 10, 2026, expressing substantial doubt about the Company's ability to continue as a going concern. The auditor cited that the Company has experienced recurring losses from operations and negative cash flows from operations that raise substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $30,290,708 in total assets, $24,630,858 in total liabilities, $1,783,394 in total mezzanine equity, and $3,876,456 in total stockholders' equity. CAREVIEW COMMUNICATIONS: Net Loss Narrows to $756K in Q1 2026 ------------------------------------------------------------- CareView Communications, Inc. has filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting a net loss of $756,200 for the three months ended March 31, 2026, compared to a net loss of $920,800 for the same period in the prior year. Revenue decreased approximately $48,000 to $2,191,342 for the three months ended March 31, 2026, as compared to $2,239,347 the same period in 2025. Liquidity and Capital Resources Accounting standards require management to evaluate whether the Company can continue as a going concern for a period of one year after the date of the filing of this Form 10-Q. In evaluating the Company's ability to continue as a going concern, management considers the conditions and events that raise substantial doubt about the Company's ability to continue as a going concern for a period of 12 months after the Company issues its financial statements. For the period ended March 31, 2026, management considers the Company's current financial condition and liquidity sources, including current funds available, forecasted future cash flows, and the Company's conditional and unconditional obligations due before May 12, 2027. The Company is subject to risks like those of healthcare technology companies whereby revenues are generated based on both on a sales-based and subscription-based business model such as dependence on key individuals, uncertainty of product development, generation of revenues, positive cash flow, dependence on outside sources of capital, risks associated with research, development, and successful testing of its products, successful protection of intellectual property, ability to maintain and grow its customer base, and susceptibility to infringement on the proprietary rights of others. The attainment of profitable operations is dependent on future events, including obtaining adequate financing to fulfill the Company's growth and operating activities and generating a level of revenues adequate to support the Company's cost structure. The Company has experienced net losses and significant cash outflows from cash used in operating activities over the past years. As of and for the three months ended March 31, 2026, the Company had an accumulated deficit of $216,542,751, income from operations of $30,843, net cash used in operating activities of $126,166 and an ending cash balance of $1,411,435. As of March 31, 2026, the Company had a working capital deficit of $44,037,450 consisting primarily of PDL notes payables, including accrued interest. Management has evaluated the significance of the conditions described above in relation to the Company's ability to meet its obligations and concluded that, without additional funding, the Company will not have sufficient funds to meet its obligations within one year from the date the Condensed Consolidated Financial Statements were issued. While management will look to continue funding operations by increased sales volumes and raising additional capital from sources such as sales of its debt or equity securities or loans to meet operating cash requirements, there is no assurance that management's plans will be successful. The Company's net losses and working capital deficit raise substantial doubt about the Company's ability to continue as a going concern through May 12, 2027. Management continues to monitor the immediate and future cash flow needs of the Company in a variety of ways which include forecasted net cash flows from operations, capital expenditure control, new inventory orders, debt modifications, increases sales outreach, streamlining and controlling general and administrative costs, competitive industry pricing, sale of equities, debt conversions, new product or services offerings, and new business partnerships. A full text copy of the Company's Form 10-Q is available at https://tinyurl.com/4ya6u633 About CareView Communications Headquartered in Lewisville, Texas, CareView Communications, Inc. -- http://www.care-view.com-- is a provider of products and on-demand application services for the healthcare industry, specializing in bedside video monitoring, software tools to improve hospital communications and operations, and patient education and entertainment packages. Somerset, New Jersey-based Rosenberg Rich Baker Berman P.A., the Company's auditor since 2022, issued a "going concern" qualification in its report dated March 30, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company incurred recurring losses from operations and has an accumulated deficit, which raises substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $4,791,231 in total assets, $48,411,507 in total liabilities, and $43,620,276 in total stockholders' deficit. CATHETER PRECISION: C/M Capital Ceases Ownership of Common Stock ---------------------------------------------------------------- C/M Capital Master Fund, LP, WVP Emerging Manager Onshore Fund LLC, C/M Capital Partners, LP, Mercer Street Global Opportunity Fund, LLC, Mercer Street Capital Partners, LLC, Thomas Walsh, and Jonathan Juchno disclosed in a Schedule 13G (Amendment No. 1) filed with the U.S. Securities and Exchange Commission that as of March 31, 2026, they cease to beneficially own shares of Catheter Precision, Inc.'s Common Stock, par value $0.0001 per share. C/M Capital Master Fund, LP, WVP Emerging Manager Onshore Fund LLC, C/M Capital Partners, LP, Mercer Street Global Opportunity Fund, LLC, Mercer Street Capital Partners, LLC, Thomas Walsh, and Jonathan Juchno may be reached through: Thomas Walsh, Manager C/M Capital Master Fund, LP 1111 Brickell Ave Suite 2920 Miami, FL 33131 Tel: 201-391-1839 A full-text copy of C/M Capital Master Fund's SEC report is available at: https://tinyurl.com/mw7ram2a About Catheter Precision Inc. Headquartered in the U.S., Catheter Precision, Inc. is a medical device Company focused on improving the treatment of cardiac arrhythmias. The Company, which was reincorporated as Ra Medical Systems, Inc. in Delaware in 2018 and changed its name to Catheter Precision, Inc. on August 17, 2023, develops technology for electrophysiology procedures through collaborations with physicians and continuous product advancements. East Brunswick, New Jersey-based WithumSmith+Brown, PC, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 31, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has suffered recurring losses from operations, has experienced negative cash flows from operations, and has an accumulated deficit, which raises substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had $15.9 million in total assets, $9.2 million in total liabilities, and $6.7 million in total stockholders' CBDMD INC: Fiscal Q2 Loss Widens to $798K; Going Concern Unresolved ------------------------------------------------------------------- cbdMD, Inc. has filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting a net loss of $797,978 for the three months ended March 31, 2026, compared to a net loss of $480,757 for the same period in the prior year. For the six-month period ended March 31, 2026, the Company reported a net loss of $1.1 million, compared to a net loss of $465,662 in the corresponding prior-year period. Revenues for the three months ended March 31, 2026 were $5.6 million, compared to $4.7 million in the prior-year period. Revenues for the six months ended March 31, 2026 increased to $10.7 million from $9.7 million in the same period of the prior year. The Company had cash and cash equivalents on hand of approximately $2.6 million, working capital of $5.4 million and an accumulated deficit of approximately $180.6 million at March 31, 2026. At September 30, 2025, it had cash and cash equivalents of $2.3 million, working capital of $3.4 million and an accumulated deficit of approximately $179.4 million. The Company has outstanding quarterly dividend payment obligations under its Series B Convertible Preferred Stock and Series C Convertible Preferred Stock. The Series B Preferred Stock accrues dividends at a rate of 10% per annum, payable quarterly in shares of common stock (subject to the satisfaction of certain equity conditions) or in cash. The Series C Preferred Stock accrues dividends at the same rate of 10% per annum, also payable quarterly in shares of common stock (subject to the satisfaction of certain equity conditions) or in cash. If the Company fails to satisfy the applicable equity conditions, dividends on both series of preferred stock are payable in cash, which could adversely affect the Company's liquidity position. As of March 31, 2026, approximately 591,207 shares of Series B Preferred Stock and 1 million shares of Series C Preferred Stock were outstanding. The aggregate quarterly dividend obligation, if paid in cash, would be approximately $70,000 based on stated values and the 10% per annum dividend rate. While the Company is taking strong action and believes that it can execute its strategy and path to profitability, including the Bluebird acquisition, and believes in its ability to raise additional funds, there can be no assurances to that effect. The Company's ability to continue as a going concern is dependent upon its ability to improve profitability and cash flow and the ability to acquire additional funding. These and other factors raise substantial doubt about the Company's ability to continue as a going concern within the next 12 months. A full text copy of the Company's Form 10-Q is available at https://tinyurl.com/24w2nb58 About cbdMD Inc. Headquartered in Charlotte, N.C., cbdMD, Inc. -- http://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 December 19, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2025, citing that the Company has historically incurred losses, including a net loss of approximately $2 million in the current year, resulting in an accumulated deficit of approximately $179 million as of September 30, 2025. These conditions raise substantial doubt about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $12.3 million in total assets, $3 million in total liabilities, and $9.3 million in total cbdMD, Inc. shareholders' equity. CCSL BILOXI: 120-Day Extension for Plan Filing Granted ------------------------------------------------------ Judge Katharine M. Samson of the U.S. Bankruptcy Court for the Southern District of Mississippi extended CCSL Biloxi, LLC's exclusive period to file a plan of reorganization for additional 120 days. As shared by Troubled Company Reporter, the Debtor is in possession of its property and the management of its business as a debtor-in-possession pursuant to Sections 1107 and 1108. No Chapter 11 Trustee has been appointed in this case. No unsecured creditors committee has been appointed in this case. The Debtor explains that it was considerably behind on payments to certain creditors, specifically the Debtor's utility providers and landlord. Additionally, customers of the Debtor were holding funds at the direction of certain creditors, which significantly effected the Debtor's cash flow. Moreover, the Debtor has brought its utilities current and is in the process of brining its payments current on the lease of its facility. Due to the additional payments the Debtor has been making, it is not possible to conduct an effective feasibility analysis upon which to base a plan of reorganization. The Debtor requests the Court to extend the 120-day period and the 180-day period specified in Section 1121(b) of the Bankruptcy Code and (c) by an additional 120 days. CCSL Biloxi, LLC is represented by: W. Jarrett Little, Esq. THE LITTLE LAW FIRM, PLLC 2505 14th Street, Suite 212 Gulfport, MS 39501 Telephone: (228) 867-6050 E-mail: jarrett@thelittlelaw.com About CCSL Biloxi LLC CCSL Biloxi, LLC provides commercial laundry and linen services, primarily serving hotels and casinos in the Gulf Coast region. The Gulfport, Mississippi-based company manages a fleet of vehicles for transporting laundered goods and maintains facilities for washing, drying, and handling linens. CCSL Biloxi sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Miss. Case No. 25-51843. At the time of the filing, the Debtor listed between $1 million and $10 million in assets and liabilities. Judge Katharine M. Samson oversees the case. The Little Law Firm, PLLC serves as the Debtor's bankruptcy counsel. CLINTWOOD JOD: Hires BDO Consulting Group as Investment Banker -------------------------------------------------------------- Clintwood Jod, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Kentucky to employ BDO Consulting Group, LLC as investment banker and financial advisor. The firm will provide these services: a. review the Company's current financial condition, including financial reporting and forecasts. b. review the Company's capital structure and related documents. c. review the Company's current liquidity and cash flow budgets, including detailed backup schedules, as required by the bankruptcy court. d. serve as a liaison with Company's management, stakeholders, and advisors, as well as professionals in the bankruptcy case. Provide analyses as appropriate. e. assist in development of a plan of reorganization, potential sale of assets, plan of liquidation and/or wind down or other case resolution. Provide case testimony as necessary. f. assist in managing the claims reconciliation process and in analyzing avoidance actions. g. perform other analyses and assist with other matters as requested by the Company. and h. review and assist in developing materials to be presented to potential acquirers and assist in discussions with such parties, including the facilitation of a potential transaction in a section 363 process. The firm will be paid at these rates: Principals/ Managing Director $750 to $1,150 per hour Director/Senior Manager $650 to $850 per hour Manager $550 to $750 per hour Seniors $375 to $625 per hour Associates $175 to $375 per hour For investment banking services, the Debtors agreed to pay BDO a monthly fixed fee of $50,000.00 (the "Fixed Fee") and a "Success Fee" upon the closing of a Transaction. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Evan Blum, a Managing Director at BDO Consulting Group, LLC, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Evan Blum BDO Consulting, LLC 770 Kenmoor Ave., SE Grand Rapids, MI 49546 Tel: (616) 575-4236 About Clintwood JOD LLC Clintwood JOD, LLC is a coal mining company based in Belcher, Kentucky, operating surface and underground mining activities focused on producing bituminous coal for industrial and metallurgical use. Founded in 2019, the company works across eastern Kentucky and nearby regions, supplying coal to domestic energy and steel-related markets. Its operations center on extracting, processing, and transporting coal, supporting demand from industrial clients in the region. Clintwood JOD sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Ky. Case No. 26-60438) on March 22, 2026. In the petition signed by J. Christopher Adkins, authorized signatory, the Debtor disclosed assets of between $100 million and $500 million and liabilities of between $50 million and $100 million. Judge Gregory R. Schaaf oversees the case. Dean A. Langdon, Esq., at Gartland Thacker DelCotto, PLLC, represents the Debtor as legal counsel. COMMUNITY HEALTH: Annual Meeting Elects Board, Ratifies Deloitte ---------------------------------------------------------------- Community Health Systems, Inc. held its Annual Meeting of the Stockholders at which stockholders voted on three proposals, each of which is described more fully in the Company's Proxy Statement for the Annual Meeting filed with the Securities and Exchange Commission on April 2, 2026. The following describes the matters that were submitted to the vote of the stockholders of the Company at the Annual Meeting and the result of the votes on these matters: Proposal I. The stockholders elected each of the following persons as a director of the Company for a term that expires at the Company's 2027 annual meeting of stockholders and until his or her respective successor has been elected and has qualified: a. Susan W. Brooks * For: 81,095,873 * Against: 2,891,262 * Abstain: 68,228 * Broker Non-Votes: 27,004,521 b. Lt. Gen. Ronald L. Burgess, Jr. * For: 83,645,103 * Against: 359,126 * Abstain: 51,134 * Broker Non-Votes: 27,004,521 c. John A. Clerico * For: 83,505,387 * Against: 497,636 * Abstain: 52,340 * Broker Non-Votes: 27,004,521 d. Michael Dinkins * For: 83,513,832 * Against: 490,398 * Abstain: 51,133 * Broker Non-Votes: 27,004,521 e. James S. Ely III * For: 83,500,803 * Against: 502,207 * Abstain: 52,353 * Broker Non-Votes: 27,004,521 f. John A. Fry * For: 82,997,112 * Against: 1,006,438 * Abstain: 51,813 * Broker Non-Votes: 27,004,521 g. Kevin J. Hammons * For: 83,604,879 * Against: 417,857 * Abstain: 32,627 * Broker Non-Votes: 27,004,521 h. Joseph A. Hastings, D.M.D. * For: 83,653,444 * Against: 358,347 * Abstain: 43,572 * Broker Non-Votes: 27,004,521 i. Elizabeth T. Hirsch * For: 83,640,131 * Against: 365,264 * Abstain: 49,968 * Broker Non-Votes: 27,004,521 j. William Norris Jennings, M.D. * For: 83,228,046 * Against: 778,850 * Abstain: 48,467 * Broker Non-Votes: 27,004,521 k. K. Ranga Krishnan, MBBS * For: 83,223,787 * Against: 766,268 * Abstain: 65,308 * Broker Non-Votes: 27,004,521 l. Fawn D. Lopez * For: 83,268,829 * Against: 717,430 * Abstain: 69,104 * Broker Non-Votes: 27,004,521 m. Wayne T. Smith * For: 83,441,645 * Against: 574,079 * Abstain: 39,639 * Broker Non-Votes: 27,004,521 n. H. James Williams, Ph.D. * For: 83,599,759 * Against: 404,118 * Abstain: 51,486 * Broker Non-Votes: 27,004,521 Proposal II. The stockholders approved the non-binding advisory resolution regarding the compensation of the Company's named executive officers: * For: 81,701,049 * Against: 1,814,301 * Abstain: 540,013 * Broker Non-Votes: 27,004,521 Proposal III. The stockholders ratified the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2026: * For: 110,561,632 * Against: 351,405 * Abstain: 146,847 * Broker Non-Votes: n/a About Community Health Systems Inc. Community Health Systems, Inc. -- http://www.chs.net/-- is a publicly traded hospital company and an operator of general acute care hospitals in communities across the country. Its affiliates provide healthcare services, developing and operating healthcare delivery systems in 40 distinct markets across 15 states. As of March 31, 2026, the Company had $13.2 billion in total assets, $14.1 billion in total liabilities, $260 million in redeemable noncontrolling interests in equity of consolidated subsidiaries, and $1.2 billion in total stockholders' deficit. * * * In April 2026, S&P Global Ratings affirmed its 'CCC+' rating on Community Health Systems Inc. and revised its outlook to positive from negative. At the same time, S&P Global affirmed its issue-level ratings on Community Health's 'B-'- rated senior secured as well as its 'CCC-' rated junior secured and senior unsecured debt. In May 2026, Fitch Ratings has affirmed CHS/Community Health Systems, Inc.'s (CHS) and its parent, Community Health Systems, Inc's. (CYH) Long-term Issuer Default Ratings (IDRs) at 'CCC+'. Fitch has also affirmed the asset-based revolver at 'B+' with a Recovery Rating of 'RR1', first lien secured notes at 'B'/'RR2', second lien secured notes at 'CCC-'/'RR6' and senior unsecured notes at 'CC'/'RR6'. COMMUNITY HEALTH: He Zhengxu Holds 5.3% Equity Stake ---------------------------------------------------- He Zhengxu disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of May 14, 2026, he beneficially owns 7,410,784 shares with sole voting power and sole dispositive power over all 7,410,784 shares, and no shares of shared voting or dispositive power of Community Health Systems Inc's Common Stock, representing 5.3% of the shares outstanding. He Zhengxu may be reached through: 5220 Belsera Ct. Reno, NV 89519 A full-text copy of He Zhengxu's SEC report is available at: https://tinyurl.com/3kjnjb8d About Community Health Systems Inc. Community Health Systems, Inc. -- http://www.chs.net/-- is a publicly traded hospital Company and an operator of general acute care hospitals in communities across the country. Its affiliates provide healthcare services, developing and operating healthcare delivery systems in 40 distinct markets across 15 states. As of March 31, 2026, the Company had $13.2 billion in total assets, $14.1 billion in total liabilities, $260 million in redeemable noncontrolling interests in equity of consolidated subsidiaries, and $1.2 billion in total stockholders' deficit. * * * In April 2026, S&P Global Ratings affirmed its 'CCC+' rating on Community Health Systems Inc. and revised its outlook to positive from negative. At the same time, S&P Global affirmed its issue-level ratings on Community Health's 'B-'- rated senior secured as well as its 'CCC-' rated junior secured and senior unsecured debt. In May 2026, Fitch Ratings has affirmed CHS/Community Health Systems, Inc.'s (CHS) and its parent, Community Health Systems, Inc's. (CYH) Long-term Issuer Default Ratings (IDRs) at 'CCC+'. Fitch has also affirmed the asset-based revolver at 'B+' with a Recovery Rating of 'RR1', first lien secured notes at 'B'/'RR2', second lien secured notes at 'CCC-'/'RR6' and senior unsecured notes at 'CC'/'RR6'. CONSTRUCTION KINGS: Seeks Chapter 7 Bankruptcy in Washington ------------------------------------------------------------ On May 11, 2026, Construction Kings LLC commenced a voluntary Chapter 7 bankruptcy proceeding in the Western District of Washington bankruptcy court. Court records indicate the company disclosed liabilities ranging from $1 million to $10 million with between 100 and 199 creditors. About Construction Kings LLC Construction Kings LLC provides construction and contracting services. The debtor filed for protection under Chapter 7 of the Bankruptcy Code (Case No. 26-41383) on May 11, 2026. Bankruptcy filings list estimated assets between $100,001 and $1 million and estimated liabilities between $1 million and $10 million. The matter has been assigned to Judge Timothy W. Dore. The company is represented by Patrick H. Brick of Patrick H. Brick, Attorney. CONTROLLED CHAOS: Gets Interim OK to Use Cash Collateral -------------------------------------------------------- Controlled Chaos Energy Services, LLC received interim approval from the U.S. Bankruptcy Court for the Northern District of West Virginia to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral, including post-petition accounts receivable collections and proceeds, to pay expenses in accordance with the budget submitted with its Chapter 11 plan. The budget projects total operational expenses of $259,251. The Debtor maintains a fleet of approximately 22 commercial vehicles and serves major customers including Ascent Resources-Utica, LLC and Infinity Natural Resources, LLC. It generates roughly $295,000 in monthly revenue, primarily from accounts receivable tied to service billings while monthly operating expenses total about $259,251, including payroll, fuel, insurance, and vehicle repairs. The Debtor identifies two secured creditors, Commercial Funding Inc. and Commercial Credit Group Inc. CFI entered into a factoring agreement with the Debtor in 2022 under which it purchased accounts receivable and advanced funds against them, supported by an all assets UCC filing. Meanwhile, CCG financed the Debtor's commercial truck fleet and claims approximately $881,231 secured by vehicle liens and broad security interests. The Debtor has separately moved to value CCG's collateral at $500,500, treating the remaining balance as unsecured. As protection, both secured creditors will be granted replacement liens on post-petition assets similar to their pre-petition collateral, with the same validity, extent, and priority as their pre-petition liens. Additionally, CCG will receive monthly adequate protection payments of $10,088.56 beginning in June to protect its interest in vehicle collateral. The order approved a carveout from collateral proceeds for statutory court fees, U.S. Trustee fees, allowed Subchapter V trustee expenses, and professional fees, capped at $15,000 per month absent further court approval. About Controlled Chaos Energy Services LLC Controlled Chaos Energy Services LLC is a Bellaire, Ohio-based energy-services and transportation company that provides trucking, brine-water hauling and field-support services for oil-and-gas operations in Ohio, West Virginia and Pennsylvania. The company operates a fleet of heavy-duty trucks and trailers, including Peterbilt, Freightliner, Western Star, Kenworth and Mack vehicles, and serves energy-sector customers that require transportation and related oilfield logistics support. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. W.V. Case No. 26-00331) on May 6, 2026. In the petition signed by Frederick A. Lang, IV, owner, the Debtor disclosed $581,137 in total assets and $1,302,384 in total liabilities. Judge David L. Bissett oversees the case. Ryan W. Johnson, Esq., at Johnson Legal Services, PLLC, represents the Debtor as bankruptcy counsel. CRESTMONT PROPERTIES: Plan Exclusivity Period Extended to July 20 ----------------------------------------------------------------- Judge Christine M. Gravelle of the U.S. Bankruptcy Court for the District of New Jersey extended Crestmont Properties, LLC's exclusive periods to file a plan of reorganization and obtain acceptance thereof to July 20 and Sept. 18, 2026, respectively. In a court filing, the Debtor submits that sufficient "cause" exists upon which this Court may grant the requested extension of the Exclusive Periods. The Debtor's bankruptcy case is only four months old, and NJDEP is the Debtor's only significant creditor, whose claim is directly at issue in the Environmental Adversary Proceeding. The Debtor explains that there is no prejudice to any creditors in the Court extending the Debtor's exclusivity, and the Debtor is functionally not an operating entity, with no real monthly "cash burn" which might result in diminution of the bankruptcy estate. Further, the Debtor is not seeking an extension of exclusivity in order to pressure creditors to submit to the Debtor's reorganization demands, but rather to move forward with its reorganization efforts, which depend largely, if not entirely, on the outcome of the Environmental Adversary Proceeding. This is Debtor's first request for an extension of exclusivity. The Debtor has been acting expeditiously and making progress in the Bankruptcy Case, and the additional time is needed to ensure that any plan the Debtor may file is feasible. Crestmont Properties, LLC is represented by: Douglas G. Leney, Esq. ARCHER & GREINER, P.C. 1025 Laurel Oak Road Voorhees, NJ 08043 Telephone: (856) 795-2121 Facsimile: (856) 795-0574 Email: dleney@archerlaw.com About Crestmont Properties Crestmont Properties, LLC is a real estate company engaged in the ownership, management, and operation of residential and/or commercial properties. The company's activities typically include property acquisition, leasing, and day-to-day property management. Crestmont Properties, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-23408) on Dec. 19, 2025. In its petition, the debtor reports estimated assets in the range of $1 million to $10 million, with liabilities listed as unknown. The Honorable Vincent F. Papalia handles the case. The Debtor is represented by Anthony P. Ambrosio, Esq. CURIS INC: Q1 2026 Net Loss Hits $24.2M, Warns of Bankruptcy Risk ----------------------------------------------------------------- Curis, Inc. has filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting a net loss of $24.2 million for the three months ended March 31, 2026, compared to a net loss of $10.6 million for the same period in the prior year. The Company recorded no revenues for the three months ended March 31, 2026, compared to a net revenue of $23.8 million for the same period in the prior year. The Company does not expect to generate any revenues for several years, if ever. Substantially all of the Company's revenues to date have been derived from license fees, research and development payments, and other amounts received from its strategic collaborators and licensees, including royalty payments. Liquidity and Events that Raise Substantial Doubt About the Company's Ability to Continue as a Going Concern Since its inception, the Company has funded its operations primarily through private and public placements of its equity securities, license fees, contingent cash payments, royalties and research and development funding from its corporate collaborators, and the monetization of certain royalty rights. The Company has never been profitable on an annual basis and had an accumulated deficit of $1.3 billion as of March 31, 2026. For the three months ended March 31, 2026, the Company incurred a net loss of $24.2 million and used $9.0 million of cash in operations. The Company expects to continue to generate operating losses in the foreseeable future. Its current cash and cash equivalents are not expected to fund its operations beyond 12 months from the date of filing this Quarterly Report on Form 10-Q. The Company will require substantial additional funds in the immediate term to maintain its research and development program and support operations. The Company will need to generate significant revenues to achieve profitability, and does not expect to achieve profitability in the foreseeable future, if at all. The Company will require substantial additional funding to fund the development of emavusertib through regulatory approval and commercialization, and to support its continued operations. The Company will need to seek additional funding through a number of potential avenues, including private or public equity financings, collaborations, or other strategic transactions. The Company's ability to raise additional funds will depend on, among other factors, financial, economic and market conditions, as well as maintaining its listing on Nasdaq, many of which are outside of the Company's control, and the Company may be unable to raise financing when needed, or on terms favorable to it. The Company has faced and expects to continue to face substantial difficulties in raising capital. If sufficient funds are not available, the Company will have to delay, reduce the scope of, or eliminate its research and development program for emavusertib, including related clinical trials and operating expenses, potentially delaying the time to market for or preventing the marketing of emavusertib, which could adversely affect the Company's business prospects and its ability to continue its operations, and would have a negative impact on its financial condition and ability to pursue its business strategies. In addition, the Company may seek to engage in one or more strategic alternatives, such as a strategic partnership with one or more parties, the licensing, sale or divestiture of some of its assets or proprietary technologies or the sale of the Company, but there can be no assurance that the Company would be able to enter into such a transaction or transactions on a timely basis or on terms favorable to it, or at all. If the Company is unable to obtain sufficient capital, it would be unable to fund its operations and may be required to evaluate alternatives, which could include dissolving and liquidating its assets or seeking protection under the bankruptcy laws, and a determination to file for bankruptcy could occur at a time that is earlier than when the Company would otherwise exhaust its cash resources. If the Company decides to dissolve and liquidate its assets or to seek protection under the bankruptcy laws, it is unclear to what extent the Company would be able to pay its obligations, and, accordingly, it is further unclear whether and to what extent any resources would be available for distributions to stockholders. A full text copy of the Company's Form 10-Q is available at https://tinyurl.com/36ccthz6 About Curis Lexington, Mass.-based Curis, Inc. is a biotechnology company focused on the development of emavusertib (CA-4948), an orally available, small molecule inhibitor of Interleukin-1 receptor associated kinase, or IRAK4. IRAK4 plays an essential role in the toll-like receptor, or TLR, and interleukin-1 receptor, or IL-1R, signaling pathways, which are frequently dysregulated in patients with Cancer. Boston, Mass.-based PricewaterhouseCoopers, the Company's auditor since 2002, issued a "going concern" qualification in its report dated March 24, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has incurred recurring losses and cash outflows from operations that raise substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $29.7 million in total assets, $17 million in total liabilities, and $12.7 million in total stockholders' equity. CURIS INC: Thomas A. Satterfield Jr. Holds 9.9% Equity Stake ------------------------------------------------------------ Thomas A. Satterfield, Jr. disclosed in a Schedule 13G (Amendment No. 3) filed with the U.S. Securities and Exchange Commission that as of March 31, 2026, he beneficially owns 3,957,950 shares with 815,534 sole voting power, 3,142,416 shared voting power, 815,534 sole dispositive power, and 3,142,416 shared dispositive power of Curis, Inc.'s Common Stock, par value $0.01 per share, representing 9.9% of the 38,978,693 shares of common stock outstanding as of May 8, 2026, as reported by the Company in its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2026. Based on 38,978,693 shares of common stock of the Company outstanding as of May 8, 2026, as reported by the Company in its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2026. Mr. Satterfield, Jr. may be deemed to beneficially own: (i) 3,317,525 shares of common stock, (ii) 7,801,152 warrants with a 9.99% limit on the exercise of such warrants (comprised of common stock warrants, Series A warrants, Series B warrants and Series C warrants), and (iii) 625,938 pre-funded warrants with a 9.99% exercise limitation. All of the warrants and pre-funded warrants provide that the holder will not have a right to exercise the warrants for common stock if, as a result of such conversion, the holder, together with his affiliates, would exceed 9.99% beneficial ownership of the number of shares of common stock outstanding immediately after giving effect to the issuance of the shares of common stock being exercised. The 3,957,950 shares of common stock reported on this Schedule 13G/A as beneficially owned by Mr. Satterfield, Jr. represent the 3,317,525 shares of common stock that Mr. Satterfield, Jr. may be deemed to beneficially own and 640,425 shares of common stock issuable upon the exercise of warrants, which collectively represent Mr. Satterfield, Jr.'s maximum beneficial ownership permissible under the applicable blocker provisions, or 9.99%. Due to field limitations of the EDGAR filing system, the percentage listed in Row 11 has been rounded down to 9.9%. This Schedule 13G/A assumes that the 640,425 warrants so exercised would include: (i) all common stock warrants that, upon exercise, would result in the issuance of shares of common stock over which Mr. Satterfield, Jr. would have sole voting and dispositive power (333,145 shares) and (ii) a portion of the common warrants that, upon exercise, would result in the issuance of shares of common stock over which Mr. Satterfield, Jr. would have shared voting and dispositive power (307,280 shares). If there was no limit on the exercise of the warrants and pre-funded warrants, Mr. Satterfield, Jr. would be deemed to be the beneficial owner of an aggregate of 11,744,615 shares of common stock, representing 24.77% of the Company's outstanding common stock (factoring in the exercise of such warrants and pre-funded warrants). Thomas A. Satterfield, Jr. may be reached at: Thomas A. Satterfield, Jr. 15 Colley Cove Drive Gulf Breeze, FL 32561 A full-text copy of Thomas A. Satterfield, Jr.'s SEC report is available at: https://tinyurl.com/2p9ntu8n About Curis Lexington, Mass.-based Curis, Inc. is a biotechnology Company focused on the development of emavusertib (CA-4948), an orally available, small molecule inhibitor of Interleukin-1 receptor associated kinase, or IRAK4. IRAK4 plays an essential role in the toll-like receptor, or TLR, and interleukin-1 receptor, or IL-1R, signaling pathways, which are frequently dysregulated in patients with Cancer. Boston, Mass.-based PricewaterhouseCoopers, the Company's auditor since 2002, issued a "going concern" qualification in its report dated March 24, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has incurred recurring losses and cash outflows from operations that raise substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had $20 million in total assets, $14.5 million in total liabilities, and $5.5 million in total stockholders' equity. CYGNI GROUP: Seeks Chapter 7 Bankruptcy in New York --------------------------------------------------- On May 15, 2026, Cygni Group LLC filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the Debtor reports between $100,001 and $1 million in debt owed to between 1 and 49 creditors. About Cygni Group LLC Cygni Group LLC is a limited liability company. Cygni Group LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42381) on May 15, 2026. In its petition, the Debtor reports estimated assets between $0 and $100,000 and estimated liabilities between $100,001 and $1 million. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. CYTOSORBENTS CORP: Q1 Net Loss Jumps to $5.1M, Warns of Cash Crunch ------------------------------------------------------------------- Cytosorbents Corporation has filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting a net loss of $5.1 million for the three months ended March 31, 2026, compared to a net loss of $1.5 million for the same period in the prior year. Revenues For the three months ended March 31, 2026, the Company generated total revenue of approximately $8.9 million, an increase of approximately $0.2 million, or 1.6%, and down 7.4% on a constant currency basis, as compared to revenues of approximately $8.7 million for the three months ended March 31, 2025. Revenue growth was led by double digit growth in direct sales outside of Germany, partially offset by lower revenue in the Company's direct German market, where the Company continues to see signs of improved sale processes, account targeting and customer engagement with a smaller and more focused team. The Company remains confident these improvements will lead to stronger execution and improved performance. Distributor sales were flat year-over-year, as progress across several territories was offset by delayed distributor orders of approximately $0.5 million in parts of the Middle East and neighboring regions due to geopolitical and economic instability related to the U.S.-Iran war. This unexpected disruption has slowed the anticipated growth of the Company's recently established subsidiary in Dubai, UAE, although the Company expects conditions to improve as the conflict stabilizes. Gross Profit Gross profit was approximately $6.1 million for the three months ended March 31, 2026, a decrease of approximately $0.1 million, or 1.2%, as compared to gross profit of $6.2 million for the three months ended March 31, 2025. Gross margins were 69.2% and 71.1% for the three months ended March 31, 2026 and 2025, respectively. Research and Development Expenses The Company's research and development costs were approximately $1.0 million and $1.7 million for the three months ended March 31, 2026 and 2025, respectively, a decrease of approximately $0.7 million, or 38.4%. This decrease was driven by a decrease in the Company's clinical trial costs due primarily to the completion of the STAR-T clinical trial, lower grant funded projects, as well as other clinical and product development program reductions. Selling, General and Administrative Expenses The Company's selling, general and administrative expenses were approximately $8.1 million and $8.4 million for the three months ended March 31, 2026 and 2025, respectively, a decrease of approximately $0.3 million, or 3.5%. The decrease is primarily due to decreases in stock-based compensation expense of $0.2 million and a decrease in salaries and compensation expense of $0.2 million, partially offset by a reduction in benefits from government grants of $0.1 million. The decrease in stock-based compensation expense was primarily related to the full vesting of certain stock options in earlier periods. The decrease in salaries and compensation was primarily related to the Company's strategic workforce and cost reduction program initiated in the fourth quarter of 2025 which reduced the Company's workforce by approximately 10%. Gain (Loss) on Foreign Currency Transactions For the three months ended March 31, 2026, the loss on foreign currency transactions was approximately $1.2 million, as compared to a gain on foreign currency transactions of approximately $3.0 million for the three months ended March 31, 2025. The loss was directly related to the decrease in the spot exchange rate of the Euro to the U.S. dollar as of March 31, 2026 compared to December 31, 2025. The current year loss was directly related to the decrease in the spot exchange rate of the Euro to the U.S. dollar as of March 31, 2026, to $1.15 per Euro from $1.17 per Euro at December 31, 2025. The prior year gain was directly related to the increase in the spot exchange rate of the Euro to the U.S. dollar as of March 31, 2025, to $1.08 per Euro from $1.03 per Euro at December 31, 2024. Loss From Operations The Company's loss from operations decreased by 21.7% to approximately $3.0 million, from $3.9 million for the three months ended March 31, 2026, and 2025, respectively. This improvement was primarily the result of a 9.1% reduction in operating expenses year over year. Liquidity and Capital Resources Since inception, the Company's operations have been primarily financed through the issuance of debt and equity securities. As of March 31, 2026, the Company had current assets of approximately $17.8 million and current liabilities of approximately $16.3 million. Effective Shelf Registration The Company has an effective shelf registration statement dated September 30, 2024 with the SEC which enables it to raise up to $150 million in one or more offerings, through the issuance and sale of any combination of equity securities, debt securities, warrants and units. Approximately $149.7 million of this amount was available as of March 31, 2026; however the use of the Shelf is subject to a limitation of one-third of the Company's public float in any rolling 12-month period, when its public float is below $75 million, which is referred to as the "baby shelf" rules. The Company has also allocated $20 million of its total shelf amount to its ATM facility. At March 31, 2026, approximately $19.4 million was available for use under the ATM facility, subject to certain limitations. During the three months ended March 31, 2026, the Company did not raise any proceeds under the ATM facility. Loan and Security Agreement On June 28, 2024, the Company entered into a Loan and Security Agreement with the Avenue Capital Group. Avenue Capital Group agreed to loan the Company up to an aggregate of $20 million, to be disbursed in two tranches. The first tranche of $15.0 million, consisted of $10.0 million which was available to the Company on the Closing Date and $5.0 million constituted restricted cash, which was released from its restriction on January 10, 2025, as the following conditions were achieved: (i) the FDA has accepted the Company's application for review with respect to DrugSorb-ATR De Novo 510(k) and (ii) the Company received a minimum of $3.0 million in net proceeds from the sale of its equity securities after the Closing Date. The restriction was released on a dollar-for-dollar basis for equity raised between $3.0 million and $5.0 million. The second tranche consisted of $5.0 million, which would have been disbursed at the Company's request between July 1, 2025 and December 31, 2025, if the Company received FDA marketing approval of its DrugSorb-ATR application, which it did not. The proceeds from the Avenue Capital Commitment were used to pay off the existing outstanding debt with Bridge Bank and were additionally used for working capital purposes and to fund general business requirements. Amounts borrowed under the Avenue Capital Commitment bear interest at a variable rate per annum equal to the greater of: (A) the Prime Rate plus five percent (5.00%) or (B) thirteen and one-half percent (13.50%). The loan required interest-only payments for the first 24 months through July 1, 2026, followed by equal monthly installments of principal plus accrued and unpaid interest until maturity, on July 1, 2027; provided, however that if the Company had drawn the full amount of Tranche 2 by December 31, 2025, and achieved for the trailing six month period ended June 30, 2026, at least $25 million of revenue, (the Interest only Milestone as defined in the Loan), the Interest only Period would have been extended by six months to January 1, 2027, followed by equal monthly installments of principal plus accrued and unpaid interest through January 1, 2028. On November 13, 2025, the Company and Avenue Capital Group entered into the Amended Loan and Security Agreement, amending the Company's Loan and Security Agreement, dated June 28, 2024, as supplemented. The Amended Loan and Security Agreement funded an additional aggregate $2.5 million ("Tranche 2a") from Avenue Capital Group in November 2025 and provided an extension of the interest only period from July 1, 2026 to December 31, 2026, followed by equal monthly installments of principal plus accrued and unpaid interest until maturity on July 1, 2027. The Company would have access to an additional aggregate $2.5 million from Avenue Capital Group and receive a further six-month extension of the interest-only period to the July 1, 2027 maturity date subject to FDA approval of DrugSorb-ATR prior to December 31, 2026, which approval is now expected beyond this time frame. Tranche 2a and Tranche 2b, in the aggregate, replace Tranche 2 of the Avenue Capital Commitment. The Amended Loan and Security Agreement requires that the Company maintain certain operating cash burn targets (as defined in the Amended Loan and Security Agreement) prior to FDA approval of DrugSorb-ATR. Under the terms of the Amended Loan and Security Agreement, the Company issued additional warrants to Avenue Capital Group to purchase 1,428,571 shares of the Company's common stock for cash at the exercise price of $0.70, which expire on November 13, 2030. The number of warrants and exercise price are fixed. Rights Offering On January 10, 2025, the Company closed the subscription period of its previously announced rights offering, raising aggregate gross proceeds of $6.25 million ($5.4 million net of fees) from the sale of all 6.25 million Units reserved for the Rights Offering. Participants in the Rights Offering received Units, each Unit comprising of one share of common stock of the Company, one Series A Right Warrant to purchase one share of common stock with an expiration date of February 24, 2025, and one Series B Right Warrant to purchase one share of common stock with an expiration date of April 10, 2025. Up to an additional 6.25 million shares of common stock were available for issuance upon exercise of the Right Warrants. Proceeds from the closing of the subscription period satisfied a debt covenant which allowed for $5 million of restricted cash on the Company's consolidated balance sheets to become unrestricted, and available for use. On February 24, 2025, approximately 1.4 million Series A Right Warrants were exercised by holders, including members of management and the Board of Directors, at an exercise price of $1.13 per warrant, providing an additional $1.6 million in aggregate gross proceeds ($1.4 million net of fees). On April 4, 2025, the Board of Directors extended the expiration date of the Series B Right Warrants from April 10, 2025 to June 10, 2025. On June 11, 2025, the 5-day volume weighted average price of Common Stock over the last five-trading days prior to June 10, 2025 was lower than the minimum required price of $2.00 and, as a result, the Series B Right Warrants issued in connection with the previously announced Rights Offering expired worthless pursuant to their terms. Technology Business Tax Certificate Program In March 2026, the Company further supplemented its cash balance with the receipt of $0.4 million from the sale of its 2024 Net Operating Loss (NOL) and R&D tax credits from the Technology Business Tax Certificate Transfer Program, sponsored by the New Jersey Economic Development Authority (NJEDA). Resource Allocation and Path to Cash-Flow Profitability The Company proactively manages its resources with a focus on driving commercial success, investing in key areas such as its regulatory submissions of DrugSorb-ATR to the FDA and Health Canada and the development of clinical data. The Company has instituted and continues to maintain tight control over expenditures and has lowered its spending over the past year. Further, on November 13, 2025, the Company announced it initiated a Strategic Workforce and Cost Reduction Plan to reduce costs, optimize operations, and accelerate a path to cash-flow profitability. This initiative follows a comprehensive review of the Company's cost structure and operating model. As part of the Strategic Workforce and Cost Reduction Plan, the Company reduced its workforce by approximately 10%, reduced and realigned operating and production expenses in the fourth quarter of 2025, continued to make additional reductions in the first quarter of 2026, and remains committed to bringing the Company to operating cash flow break-even in the second half of 2026. The Company recorded a charge of $0.5 million in 2025 that includes severance and other cash and non-cash charges related to the restructuring. As of March 31, 2026, the Company had approximately $6.3 million in cash, including approximately $4.8 million in unrestricted cash and cash equivalents and $1.5 million of non-current restricted cash which may not be sufficient to fund the Company's operations beyond the next 12 months from the issuance of these condensed consolidated financial statements. These cash and restricted cash balances considered with the Company's historical and expected future cash used in operations, notwithstanding its Strategic Workforce and Cost Reduction Plan and the impact of the Amended Loan and Security Agreement, raises substantial doubt about the Company's ability to continue as a going concern within 12 months after the date that the accompanying condensed consolidated financial statements are issued. The Company's expected future capital requirements may depend on many factors, including expanding its customer base and sales force, the timing and extent of spending in obtaining regulatory approval and introduction of new products, including the potential regulatory approval and introduction of DrugSorb-ATR in the United States. Additional sources of liquidity available to the Company include the 2024 Shelf, other public or private equity offerings, debt financing or from other sources. The sale of additional equity may result in dilution to the Company's shareholders. There is no assurance that the Company will be able to secure funding on terms acceptable to it, or at all. Although the Company has taken actions to achieve cash flow breakeven, if it does not achieve this goal, the potential increased need for capital could also make it more difficult to obtain funding through either equity or debt. Should additional capital not become available to the Company as needed, it may be required to take certain actions, such as slowing sales and marketing expansion, delaying further regulatory approvals, or reducing headcount. The accompanying condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company routinely evaluates other financing sources, including less or non-dilutive debt financing, additional grant funding, royalty financing, strategic or direct investments, equity financing, and/or combinations thereof. There can be no assurance that management will be successful in these endeavors. A full text copy of the Company's Form 10-Q is available at https://tinyurl.com/mpm8cfsa About CytoSorbents Based in Princeton, New Jersey, CytoSorbents Corp. develops and markets blood purification technologies for intensive care and cardiac surgery. Its proprietary adsorbent, porous polymer platform is deployed through U.S. and international subsidiaries, including operations in New Jersey, Berlin, India, and Dubai, supporting research, development, and commercialization of its medical devices. East Brunswick, New Jersey-based WithumSmith+Brown, PC, the Company's auditor since 2004, issued a "going concern" qualification in its report dated March 29, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has suffered recurring losses from operations, has experienced negative cash flows from operations, and has an accumulated deficit, which raise substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $40.7 million in total assets, $38.4 million in total liabilities, and $2.2 million in total stockholders' equity. DATA443 RISK: Liabilities Exceed Assets by $15.1M at March 31 ------------------------------------------------------------- Data443 Risk Mitigation, Inc.'s stockholder's deficit was US$15.1 million at March 31, 2026. The stockholder's deficit was US$14.3 million at Dec. 31, 2025. At March 31, 2026, the Company had total assets of US$5.5 million and total liabilities of US$20.6 million. At Dec. 31, 2025, the Company had total assets of US$6.4 million and total liabilities of US$20.7 million. The Company discloses that it requires cash to fund its operating expenses and working capital requirements, including outlays for capital expenditures. As of March 31, 2026, the Company had cash balance of $40,812 and its principal sources of liquidity were trade accounts receivable of $98,695, as compared to cash of $197,364 and trade accounts receivable of $91,686 as of Dec. 31, 2025. The Company said: "During the last two years, and through the date of this Report, we have faced an increasingly challenging liquidity situation that has limited our ability to execute our operating plan. We will need to obtain capital to continue operations. There is no assurance that we will be able to secure such funding on acceptable terms. During the three months ended March 31, 2026, we reported a loss from operations of $714,892." "As of March 31, 2026, we had assets of cash in the amount of $40,812 and other current assets in the amount of $648,695. As of March 31, 2026, we had current liabilities of $18,842,890. Our accumulated deficit as of March 31, 2026 was $65,325,267." "As of December 31, 2025, we had assets of cash in the amount of $197,364 and other current assets in the amount of $1,241,686. As of December 31, 2025, we had current liabilities of $18,704,989. We accumulated deficit as of December 31, 2025 was $64,311,761." "The revenues generated from our current operations will not be sufficient to fund our planned growth. We will require additional capital to continue to operate our business, and to further expand our business. Sources of additional capital through various financing transactions or arrangements with third parties may include equity or debt financing, bank loans or revolving credit facilities. We may not be successful in locating suitable financing transactions in the time period required or at all, and we may not obtain the capital we require by other means. Unless we can attract additional investment, our operating as a going concern is in doubt." "We are now obligated to file annual, quarterly and current reports with the SEC pursuant to the Securities Exchange Act of 1934, as amended (the "Exchange Act"). In addition, the Sarbanes-Oxley Act of 2002 ("Sarbanes-Oxley") and the rules subsequently implemented by the SEC and the Public Company Accounting Oversight Board ("PCAOB") have imposed various requirements on public companies, including requiring changes in corporate governance practices. We expect these rules and regulations to increase our legal and financial compliance costs and to make some activities of ours more time-consuming and costly. In order to meet the needs to comply with the requirements of the Exchange Act, we will need investment of capital." Management has determined that additional capital will be required in the form of equity or debt securities. There is no assurance that management will be able to raise capital on terms acceptable to the Company, or at all. The Company points out that: "If we are unable to obtain sufficient amounts of additional capital, we may have to cease filing the required reports and cease operations completely. If we obtain additional funds by selling any of our equity securities or by issuing common stock to pay current or future obligations, the percentage ownership of our stockholders will be reduced, stockholders may experience additional dilution, or the equity securities may have rights preferences or privileges senior to the common stock." The Company's plan is to continue to grow its business through strategic acquisitions, and then expand selling across its subsidiaries and affiliated companies. During the next twelve months, the Company anticipates incurring costs related to (i) filing of Exchange Act reports; and (ii) operating our businesses. The Company said: "We will require additional operating capital to maintain and continue operations. We will need to raise additional capital through debt or equity financing, and there is no assurance we will be able to raise the necessary capital." A full-text copy of the Form 10-Q is available at https://tinyurl.com/52pmyuv5 About Data443 Risk Mitigation, Inc. Data443 Risk Mitigation, Inc., was incorporated as a Nevada corporation. On Oct. 15, 2019, the Company changed its name from LandStar, Inc. to Data443 Risk Mitigation, Inc. within the state of Nevada. The Company delivers solutions and capabilities that businesses can use in conjunction with their use of established cloud vendors such as Microsoft(R) Azure, Google(R) Cloud Platform (GCP) and Amazon(R) Web Services (AWS), as well as with on-premises databases and database applications with virtualization platforms, such as those hosted or configured using VMWare(R), Citrix(R) and Oracle(R) clouds/products). DHS MANAGEMENT: Seeks to Hire RHM LAW LLP as Bankruptcy Counsel --------------------------------------------------------------- DHS Management LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire RHM LAW LLP as its general bankruptcy counsel. The firm will provide these services: a. advice and assistance regarding compliance with the requirements of the United States Trustee ("UST"); b. advice regarding matters of bankruptcy law, including the rights and remedies of the Debtor in regard to its assets and with respect to the claims of creditors; c. advice regarding cash collateral matters; d. examinations of witnesses, claimants or adverse parties and to prepare and assist in the preparation of reports, accounts and pleadings; e. advice concerning the requirements of the Bankruptcy Code and applicable rules; f. negotiation, formulation, confirmation and implementation of a Chapter 11 plan of reorganization; and g. appearances in the Bankruptcy Court on behalf of the Debtor; and to take such other action and to perform such other services as the Debtor may require. The firm will be paid at these rates: Matthew D. Resnick, Partner $700 per hour Roksana D. Moradi-Brovia, Partner $650 per hour W. Sloan Youksetter, Associate $450 per hour Russell J. Strong III, Associate $450 per hour Leslie Davis, Associate $500 per hour Rosario Zubia, Paralegal $175 per hour Priscilla Bueno, Paralegal $175 per hour Rebecca Benitez, Paralegal $135 per hour Susie Segura, Paralegal $135 per hour M. Jonathan Hayes, Sr. Bankruptcy Associate $600 per hour The firm will be paid a retainer in the amount of $21,738. In addition, the firm will seek reimbursement for its out-of-pocket expenses. M. Jonathan Hayes, Esq., a partner at RHM Law LLP, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: M. Jonathan Hayes, Esq. RHM Law LLP 17609 Ventura Blvd., Suite 314 Encino, CA 91316 Telephone: (818) 285-0100 Facsimile: (818) 855-7013 Email: jhayes@RHMFirm.com About DHS Management LLC DHS Management LLC is a limited liability company. DHS Management LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10750) on April 10, 2026. In its petition, the Debtor reports estimated assets and liabilities both ranging from $1 million to $10 million. Honorable Bankruptcy Judge Victoria S. Kaufman handles the case. The Debtor is represented by M. Jonathan Hayes, Esq. of Resnik Hayes Moradi LLP. DINOSAUR RIDGE: Case Summary & One Unsecured Creditor ----------------------------------------------------- Debtor: Dinosaur Ridge Resorts LLC 17999 W. Colfax Ave. Golden, CO 80401 Business Description: Dinosaur Ridge Resorts LLC, a Colorado limited liability company, owns undeveloped real estate at 670 Rooney Road in Golden, Colorado, with an appraised value of $16 million. Chapter 11 Petition Date: May 20, 2026 Court: United States Bankruptcy Court District of Colorado Case No.: 26-13575 Judge: Hon. Michael E Romero Debtor's Counsel: Jonathan M. Dickey, Esq. KUTNER BRINEN DICKEY RILEY PC 1660 Lincoln St. Denver, CO 80264 Tel: (303) 832-2400 E-mail: jmd@kutnerlaw.com Total Assets: $16,005,100 Total Liabilities: $8,372,451 The petition was signed by Mark Miklos as president. The Debtor identified Marcus Pachner of 1480 N. Humbolt St., Denver, Colorado 80218, as holding a $176,907 claim tied to fees related to real property. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/JLT567Q/Dinosaur_Ridge_Resorts_LLC__cobke-26-13575__0001.0.pdf?mcid=tGE4TAMA DR. DONNA: Files Emergency Bid to Use Cash Collateral ----------------------------------------------------- Dr. Donna Michelle Gentry, D.D.S., P.L.L.C. asks the U.S. Bankruptcy Court for the Eastern District of North Carolina, New Bern Division, for authority to use cash collateral and provide adequate protection. The Debtor operates a dental practice in eastern North Carolina and derives all revenue from providing dental services. To maintain ongoing operations during the bankruptcy proceedings, the practice requires continued access to cash generated through business activities to cover ordinary and necessary operating expenses, including payroll, utilities, insurance, and other administrative costs. The request includes both 15-day and 30-day operating budgets intended to demonstrate the necessity and feasibility of continued operations while reorganizing its financial affairs. The Debtor acknowledges that certain creditors may claim security interests in its business assets and cash collateral through UCC financing statements filed with the North Carolina Secretary of State. These creditors include De Lage Landen Financial Services, Inc., which filed a financing statement in June 2022; Truist Bank, which filed a UCC-1 in January 2023; CT Corporation System, acting on behalf of an unidentified secured party; and FFE Services LLC, also acting as representative for an unidentified secured party. The Debtor states that these creditors may assert liens against funds in its bank accounts, accounts receivable, and other proceeds generated through the dental practice, potentially making such funds cash collateral under the Bankruptcy Code. As adequate protection, the Debtor proposes granting replacement post-petition liens to the creditors with the same priority and extent as their pre-petition liens, limited to the amount of cash collateral existing on the petition date. The Debtor also agrees to maintain debtor-in-possession bank accounts into which all business revenues will be deposited. A copy of the motion is available at https://urlcurt.com/u?l=oB7kwP from PacerMonitor.com. About Dr. Donna Michelle Gentry, D.D.S., P.L.L.C. Dr. Donna Michelle Gentry, D.D.S., P.L.L.C. operates a dental practice in eastern North Carolina. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 26-02111) on May 8, 2026. In the petition signed by Donna M. Gentry, manager, the Debtor disclosed $703,729 in total assets and $1,685,120 in total liabilities. Judge Pamela W. McAfee oversees the case. George Mason Oliver, Esq., at THE LAW OFFICES OF GEORGE OLIVER, PLLC, represents the Debtor as legal counsel. DUOMO GSP: Seeks to Hire Tranzon Auction Properties as Auctioneer ----------------------------------------------------------------- Duomo GSP Inc. seeks approval from the U.S. Bankruptcy Court for the District of New Hersey to hire John Dobos of Tranzon Auction Properties as auctioneer. Mr. Dobos will assist in the liquidation of retail goods located in commercial storage unit in Upper Saddle River, New Jersey. The firm will receive compensation equal to 15% buyer's premium and 15% seller's commission on all goods sold. As disclosed in the court filings, Tranzon Driggers is a "disinterested person" within the meaning of section 101(14) of the Bankruptcy Code and referenced by section 328(c) of the Bankruptcy Code. The auctioneer can be reached through: John Dobos Tranzon Auction Properties 5321 Strawberry Hill Dr. Charlotte, NC 28211 Phone: (908) 642-7984 Email: jdobos@tranzon.com About Duomo GSP Inc. Duomo GSP Inc. is engaged in the business of selling high-end clothing and accessories Duomo GSP Inc. sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 25-21039) on October 17, 2025, listing up to $50,000 in both assets and liabilities. Judge Vincent F. Papalia presides over the case. M. Shapiro, Esq. at Middlebrooks Shapiro, P.C. represents the Debtor as counsel. DWBH LLC: Seeks Chapter 7 Bankruptcy in New York ------------------------------------------------ On May 18, 2026, DWBH LLC filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Southern District of New York. According to court filings, the debtor reports between $100,001 and $1 million in liabilities owed to between 1 and 49 creditors. About DWBH LLC DWBH LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11176) on May 18, 2026. In its petition, the debtor reported estimated assets ranging from $100,001 to $1 million and estimated liabilities between $100,001 and $1 million. Honorable Bankruptcy Judge Philip Bentley handles the case. E.W. SCRIPPS: Charles Schwab Investment Holds 4.11% Equity Stake ---------------------------------------------------------------- Charles Schwab Investment Management Inc disclosed in a Schedule 13G (Amendment No. 2) filed with the U.S. Securities and Exchange Commission that as of March 31, 2026, it beneficially owns 3,662,774 shares of E.W. Scripps Co's Common Stock, representing 4.11% of the shares outstanding, reflecting ownership of 5 percent or less of a class. Charles Schwab Investment Management Inc may be reached through: Omar Aguilar, Chief Executive Officer 425 Market Street Suite 1700 San Francisco, CA 94105 Tel: 800-650-9744 A full-text copy of Charles Schwab Investment Management Inc's SEC report is available at: https://tinyurl.com/2eyvxenh About Scripps The E.W. Scripps Company (NASDAQ: SSP) is a diversified media Company focused on creating a better-informed world. As one of the nation's largest local TV broadcasters, Scripps serves communities with quality, objective local journalism and operates a portfolio of more than 60 stations in 40+ markets. Scripps reaches households across the U.S. with national news outlets Scripps News and Court TV and popular entertainment brands ION, ION Plus, ION Mystery, Bounce, Grit and Laff. Scripps is the nation's largest holder of broadcast spectrum. Scripps is the longtime steward of the Scripps National Spelling Bee. Founded in 1878, Scripps' long-time motto is: "Give light and the people will find their own way." As of March 31, 2026, the Company had $4.9 billion in total assets, $422.3 million in total current liabilities, $365 million in other liabilities (noncurrent), and $1.2 billion in total equity. * * * In July 2025, S&P Global Ratings assigned its 'CCC+' issue-level rating and '3' recovery rating to The E.W. Scripps Co.'s proposed $650 million senior secured second-lien notes due 2030. The '3' recovery rating indicates its expectation for meaningful (50%-70%; rounded estimate: 50%) recovery for lenders in the event of a payment default. E.W. Scripps plans to use the proceeds from these notes to fully repay its 5.875% senior unsecured notes due 2027 ($426 million outstanding) and repay $220 million of its senior secured first-lien term loan B-2 maturing 2028 ($545 million outstanding). Moreover, in August 2025, Fitch Ratings has upgraded The E.W. Scripps Company's Long-Term Issuer Default Rating (IDR) to 'CCC' from 'CCC-'. Fitch has also upgraded Scripps' senior secured debt to 'B' with a Recovery Rating of 'RR1', from 'B-'/'RR1', and senior unsecured debt to 'CC'/'RR6' from 'C'/'RR6'. In addition, Fitch has assigned a 'CCC-'/'RR5' rating to Scripps' new senior secured second-lien debt. Moody's Ratings subsequently assigned a Caa2 rating to The Scripps (E.W.) Company's proposed $650 million senior secured second-lien notes due 2030. In connection with this rating action, Moody's affirmed the Caa1 corporate family rating, B2 ratings on the senior secured debt instruments and Caa3 ratings on the senior unsecured notes. Moody's also upgraded the probability of default rating to Caa1-PD from Caa2-PD and changed the outlook to stable from negative. Scripps' SGL-3 Speculative Grade Liquidity rating remains unchanged. EAGLES INVESTMENTS: Court Denies Bid to Use Cash Collateral ----------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Alabama, Southern Division, denied Eagles Investments Group, Inc.'s motion to use cash collateral. The Debtor was formed in May 2023 to acquire and hold land, buildings, and other real estate associated with convenience stores and gas stations. To purchase and improve these properties, the Debtor obtained multiple commercial loans and financing arrangements. However, the Debtor's business declined significantly during 2024 and 2025 because of changes in Alabama law regulating vape and hemp/THC products sold in convenience stores. Specifically, Alabama House Bills 8 and 445 restricted flavored vape products to licensed vape shops and imposed strict potency limits on hemp and THC products, effectively removing many profitable products from convenience store shelves. These legislative changes caused a substantial decline in revenue, making it increasingly difficult to service existing debt obligations and ultimately forcing the Debtor into Chapter 11 bankruptcy protection. The Debtor's secured creditors include SouthPoint Bank, which provided both a commercial loan and a commercial mortgage loan in 2023, secured by accounts, inventory, proceeds, equipment, fixtures, and three tracts of real property. Another creditor, TMC Franchise Corporation, extended financing secured by accounts receivable, proceeds, and goods sold, while Wolters Kluwer and Itria Ventures later obtained security interests in accounts receivable, inventory, deposit accounts, equipment, and other business assets. All creditors filed UCC-1 financing statements with the Alabama Secretary of State. About Eagles Investments Group Inc. Eagles Investments Group, Inc. is a real estate investment company that owns property used for convenience stores and gas stations. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ala. Case No. 26-01630-DSC11) on May 8, 2026. In the petition signed by Ali M. Nasher, president and chief executive officer, the Debtor disclosed up to $50,000 in assets and liabilities. Judge D. Sims Crawford oversees the case. Robert C. Keller, Esq., at Russo, White & Keller, P.C., represents the Debtor as legal counsel. ECOM AUTHORITY: Seeks to Hire KapilaMukamal LLP as Accountant ------------------------------------------------------------- Ecom Authority, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ KapilaMukamal, LLP as accountant. The firm will provide these services: a. prepare tax returns and other required filings; b. review the Debtor's books and records to identify potential avoidance actions and assist the Debtor's special counsel in evaluating and prosecuting litigation claims; and c. provide other accounting, financial consulting, valuation, and related services as the Debtor may require. The firm will be paid at these rates: Partners $640 to $820 per hour Principals $420 to $480 per hour Consultants/Senior Associates $296 to $520 per hour Analysts $190 to $320 per hour Professionals $220 to $330 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. As disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Barry E. Mukamal, CPA, CIRA, CFE, CFF, ABV, PFS KapilaMukamal 1000 South Federal Highway, Suite 200 Fort Lauderdale, FL 33316 About Ecom Authority LLC Ecom Authority, LLC, is a wholesaler doing business in Texas. On July 9, 2025, Austin Collins and four other creditors filed an Chapter 7 involuntary petition against Ecom Authority (Bankr. S.D. Fla. Case No. 25-17808). The creditors are represented by Patricia A. Redmond, Esq., at Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A. The Debtor filed a motion to convert the involuntary case from chapter 7 to chapter 11 pursuant to Local Rule 1013 1(B). Judge Laurel M. Isicoff on Oct. 3, 2025, ordered that relief under chapter 11 of the Bankruptcy Code (Title 11 of the United States Code) is granted. The Debtor tapped Michael S. Hoffman, Esq., at Lesse Hoffman, PLLC as bankruptcy counsel; and Bast Amron, LLP and Phang & Feldman, PA as special litigation counsel. Guy Van Baalen, Acting U.S. Trustee for Region 21, appointed an official committee to represent unsecured creditors in the Debtor's Chapter 11 case. The committee is represented by Markowitz, Ringel, Trusty & Hartog, P.A. ELONG POWER: Closes $6 Million Registered Offering -------------------------------------------------- Elong Power Holding Ltd. closed a registered public offering of 4.6 million units and pre-funded units at about $1.30 each, generating about $6 million in gross proceeds, according to a Form 6-K filing. The company sold 1.6 million units and 3 million pre-funded units in the best-efforts offering. Each unit included one Class A ordinary share and one common warrant, while each pre-funded unit included one pre-funded warrant and one common warrant. The common warrants are immediately exercisable at $1.30 per share and expire in three years. The pre-funded warrants have an exercise price of $0.001 per share. Maxim Group LLC acted as sole placement agent and was entitled to a cash fee equal to 7% of gross proceeds, along with reimbursement of certain expenses up to $100,000. Elong Power said it plans to use the net proceeds for working capital and general corporate purposes, including product iteration & development and production capacity expansion. About Elong Power Elong Power Holding Ltd. is a lithium-battery energy-storage company that sells battery packs, battery cells, lithium-battery energy-storage systems, complete equipment and accessories. The company's target markets include overseas residential energy storage, overseas commercial and industrial energy storage and China grid-side energy storage. Enrome LLP, of Singapore, audited Elong Power's consolidated financial statements for the year ended Dec. 31, 2025. The auditor's report included material-uncertainty language related to going concern, citing a 2025 loss from continuing operations of $2.1 million, a loss from discontinued operations of $3.47 million, negative operating cash flows of $2.66 million, a working-capital deficit of $14 million, shareholders' deficit of $22.74 million and accumulated deficit of $74.47 million. Elong Power reported total assets of $27.74 million, total liabilities of $50.49 million and a total shareholders' deficit of $22.74 million as of Dec. 31, 2025. EMORY INDUSTRIAL: Creditors to Get Proceeds From Liquidation ------------------------------------------------------------ Emory Industrial Services 1, Inc. and affiliates filed with the U.S. Bankruptcy Court for the Northern District of Texas a First Amended Disclosure Statement to accompany First Amended Joint Plan of Liquidation dated May 13, 2026. On or about February 13, 2018, Emory Dry Ice, Inc., a Delaware Corporation was incorporated under Delaware law. Initially, operations were directed from offices located in Des Moines, Iowa. Emory Industrial Services, Inc. f/k/a Emory Dry Ice, Inc. is the sole shareholder of Emory Industrial Services 1, Inc., Emory Dry Ice 1, Inc. f/k/a Emory Dry Ice, Inc., and Emory Industrial Products, Inc. Emory Industrial Holdings, Inc. was created for the purposes of becoming the holding company of Services, Services 1, Dry Ice, and Products, but the transfer of ownership was never completed. Ownership of both Services and Holdings is identical. The Debtors offered industrial cleaning services utilizing dry ice, which was also manufactured and sold by the Debtors to customers for use in various industries. The Debtors also provided general equipment maintenance and repair services to customers in the oil and gas industry. On November 1, 2024, Dry Ice 1 closed on the sale of substantially all assets to Emory D.I. and, together with assumption of certain liabilities of the company, entered into an Earnout Agreement with Emory D.I. pursuant to which Emory D.I. agreed to pay to Dry Ice 1 one-half of its net income realized during the first two years of operation with a cap of $1.75M annually. A purchaser for the equipment and rolling stock of Services and Services 1 was located in late spring of 2025 that was willing to pay 3 to 4 times the price that the equipment would likely get at auction; however, due the inability of the Debtors to secure appropriate lien releases and resolve the Denton County Suit and South Dakota Suit, the Debtors were unable to close on the proposed sale transaction without filing bankruptcy. All operations of the Debtors ceased prior to the Petition Date. The focus of the Debtors has been on maximizing the value of remaining Assets to be liquidated. The Debtors have scheduled General Unsecured Claims in the Schedules filed in their Chapter 11 Bankruptcy Cases. Services 1 scheduled General Unsecured Claims of $2,537,174.55; Services scheduled General Unsecured Claims of $10,564,188.45; Dry Ice 1 scheduled General Unsecured Claims of $6,624,115.12; Products scheduled General Unsecured Claims of $6,407,355.92; and Holdings scheduled General Unsecured Claims of $6,586,753.17. The Debtors believe the value of the Debtors' Assets can be best maximized through an orderly liquidation conducted by a Plan Administrator. As a result, the Plan contemplates all Assets of the Debtors will vest in the Liquidating Debtor administered by the Plan Administrator. Further, the Plan contemplates, and is predicated upon, the entry of an order, which may be the Confirmation Order, substantively consolidating the Debtors' Estates and the Chapter 11 Cases for administrative convenience and for purposes of implementing the Plan, voting, assessing whether the standards for Confirmation have been met, calculating and making Distributions under the Plan and filing post-Confirmation reports and paying quarterly fees to the Office of the United States Trustee. Class 6 consists of General Unsecured Claims. Class 6 Claims are Impaired. Each Holder of an Allowed Class 6 Claim shall receive in respect of such Claim its Pro Rata share of twenty-five percent of each Distribution of Available Cash made by the Plan Administrator Pursuant to this Plan. The Holders of Class 6 Claims are entitled to vote. The Holders of Class 7 Interests shall receive no distribution. On the Effective Date, all Class 7 Interests shall be deemed canceled, null and void, and of no force and effect. The Holders of Class 7 Interests are deemed to reject the Plan and are not entitled to vote. This Plan contemplates, and is predicated upon, the entry of an order, which may be the Confirmation Order, substantively consolidating the Estates and the Chapter 11 Cases for administrative convenience and for purposes of implementing this Plan, voting, assessing whether the standards for Confirmation have been met, calculating and making Distributions under the Plan and filing post-Confirmation reports and paying quarterly fees to the Office of the United States Trustee. The Distributions to be made in Cash under the terms of this Plan shall be funded from the Debtors' Available Cash consistent with the terms of this Plan. A full-text copy of the First Amended Disclosure Statement dated May 13, 2026 is available at https://urlcurt.com/u?l=bWcrrk from PacerMonitor.com at no charge. Counsel for the Debtors: Joseph F. Postnikoff, Esq. Emily M. Campbell, Esq. ROCHELLE MCCULLOUGH, LLP 300 Throckmorton Street, Suite 520 Fort Worth, Texas 76102 Telephone: 817.347.5261 Facsimile: 817.347.5269 Email: jpostnikoff@romclaw.com Email: mcampbell@romclaw.com Curt Hochbein, Esq. ROCHELLE MCCULLOUGH, LLP 300 N. Meridian Street, Suite 1260 Indianapolis, Indiana 46204 Telephone: 317.608.1137 Facsimile: 888.467.5979 Email: chochbein@romclaw.com About Emory Industrial Services 1, Inc Emory Industrial Services 1 Inc., based in Abilene, Texas, provides industrial cleaning, maintenance, and repair services for heavy equipment and machinery, including dry ice blasting for surface cleaning. The Company serves sectors such as oil and gas, food and beverage, power generation, manufacturing, agriculture, and construction. Emory Dry Ice 1, Inc., operating under the Emory Dry Ice brand, produces and distributes dry ice products for industries such as pharmaceuticals, food, and logistics. Emory Industrial Products, Inc. and Emory Industrial Holdings, Inc. are affiliated entities within the Emory Industrial Services group. Emory Industrial Services 1 Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-44148) on Oct. 27, 2025. In its petition, the Debtor estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Bankruptcy Judge Mark X. Mullin handles the case. Joseph F. Postnikoff, at Rochelle McCullough, LLP, is the Debtor's counsel. ESSENTIAL INVESTMENT: Case Summary & Two Unsecured Creditors ------------------------------------------------------------ Debtor: Essential Investment Properties, LLC 16 W Airline Hwy Ste E Kenner LA Business Description: Essential Investment Properties is a real estate company based in Kenner, Louisiana, classified under lessors of other real estate property. Chapter 11 Petition Date: May 21, 2026 Court: United States Bankruptcy Court Eastern District of Louisiana Case No.: 26-11234 Judge: Hon. Meredith S Grabill Debtor's Counsel: Mark R. Ladd, Esq. BUTLER MCDONALD 2450 Severn Avenue, Ste. 400 Metairie LA 70001 Tel: 504-285-5440 Email: mladd@bmcdlaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: unknown The petition was signed by D'Vosha McGee as owner. A copy of the Debtor's list of its two unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/SCO2SXI/Essential_Investment_Properties__laebke-26-11234__0001.2.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/N2LS7WI/Essential_Investment_Properties__laebke-26-11234__0001.0.pdf?mcid=tGE4TAMA FARMERS COOPERATIVE: Hires Ag Management Group as Consultant ------------------------------------------------------------ Farmers Cooperative Gin of Anson, Texas seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Ag Management Group as consultant. The firm will prepare cash flow projections in order to enable the Debtor to prepare cash flows to support its Chapter 11 Plan and demonstrate the feasibility of the Plan. Bart Schilling, the consultant in this representation, will charge his hourly rate of $200 plus expenses related to preparation of cash flow projections and related services and $250 an hour for expert witness testimony. Mr. Schilling 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: Bart Schilling Ag Management Group 11915 Frankford Ave., Ste. 300 Lubbock, TX 79424 Telephone: (806) 786-3258 Email: bart@agmanagement.net About Farmers Cooperative Gin of Anson, Texas Farmers Cooperative Gin of Anson, Texas is a cotton gin cooperative, operating both a cotton processing gin and a farm supply store in Anson, Texas. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-10109-11) on April 23, 2026. In the petition signed by Mike Polk, manager, the Debtor disclosed up to $10 million in assets and up to $1 million in liabilities. David R. Langston, Esq., at Mullin Hoard & Brown, LLP, represents the Debtor as legal counsel. FIREFLY NEUROSCIENCE: Net Loss Narrows to $2 Million in Q1 2026 --------------------------------------------------------------- Firefly Neuroscience, Inc. has filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting a net loss of $2,004,000 for the three months ended March 31, 2026, compared to a net loss of $12,930,000 for the same period in the prior year. Revenues for the three months ended March 31, 2026 were $485,000, compared to $43,000 in the prior-year period. Liquidity and Capital Resources As of March 31, 2026, the Company had cash of $3,127,000, compared to $2,747,000 as of December 31, 2025, an increase of $380 during the three months ended March 31, 2026. The increase reflects net proceeds from the Initial Closing of the Company's March 2026 private placement, partially offset by cash used in operating and investing activities during the period. Subsequent to March 31, 2026, on April 16, 2026, the Company raised an additional $8,000,000 in gross proceeds through the Additional Closing of the same private placement with an accredited investor. Total aggregate gross proceeds raised under the Securities Purchase Agreement dated March 8, 2026, including both closings, were $10,250,000. Additionally, on May 6, 2026, the Company entered into a new securities purchase agreement for aggregate gross proceeds of up to $1,000,000, which has not yet closed. For the next 12 months, the Company expects to continue to incur negative cash flows from operations as it integrates the Evoke and BNA products and continues to invest in the expansion of its sales organization. The acquisition has expanded the Company's product portfolio and introduced recurring revenue from Evoke product sales; however, the Company does not expect revenue to be sufficient to cover operating expenses in the near term. Beyond the next 12 months, the Company's ability to achieve profitability will depend on the successful commercialization of its combined Evoke and BNA product portfolio. The Company expects to incur significant costs associated with continued product development, commercialization, and distribution activities. As a result, the Company will require substantial additional capital to fund ongoing operations and to implement its business strategy prior to achieving positive cash flows from operating activities. Until the Company generates sufficient revenues from product sales to cover operating expenses, working-capital requirements, and capital expenditures, the Company expects to finance its operations through the issuance of equity, debt financing, or other sources of capital. There can be no assurance that such financing will be available to the Company on commercially reasonable terms, or at all. If the Company is unable to obtain additional financing as needed, it may be required to delay, reduce, or discontinue portions of its business plan, which could adversely affect its ability to continue operations. There is substantial doubt about the Company's ability to continue as a going concern, as evidenced by its accumulated deficit of $113,619,000 and negative cash flows from operating activities of $1,948,000 for the three months ended March 31, 2026. The report of the Company's independent registered public accounting firm for the year ended December 31, 2025 also expressed substantial doubt about the Company's ability to continue as a going concern. Management's plan to address the conditions giving rise to substantial doubt includes: (i) disciplined operating expense management and integration synergies from the Evoke acquisition; (ii) targeted commercial expansion to drive recurring revenue from the combined Evoke and BNA product portfolio; (iii) continued access to capital markets through equity financings including the Company's at-the-market offering program with up to $7.4 million in available capacity. During the three months ended March 31, 2026, the Company raised $2,386 in gross proceeds through the Initial Closing of a private placement of units and the exercise of warrants. Subsequent to March 31, 2026, the Company raised an additional $8,000 in gross proceeds through the April 2026 Additional Closing and entered into the May 2026 Purchase Agreement for up to $1,000 of additional proceeds. These plans involve assumptions about capital markets and customer demand that may not occur as expected, and there can be no assurance that the Company will be able to obtain additional funding on satisfactory terms or at all. The Company's expectations regarding the sufficiency of its capital resources in the near term and its ability to obtain additional capital in the long term are based on estimates and assumptions that may prove to be inaccurate. As a result, the Company could exhaust its available capital resources sooner than anticipated and may not be able to obtain additional funding on favorable terms, or at all. The Company has no material off-balance sheet arrangements that have, or are reasonably likely to have, a current or future effect on its financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures, or capital resources that would be material to investors. A full text copy of the Company's Form 10-Q is available at https://tinyurl.com/2uph2e8a About Firefly Firefly Neuroscience, Inc. (NASDAQ: AIFF) (formerly WaveDancer, Inc.) is an Artificial Intelligence company developing innovative solutions that improve rain health outcomes for patients with neurological and mental disorders. The FDA-510(k)-cleared Brain Network Analytics (BNA) software platform is designed to advance diagnostic and treatment approaches for individuals with mental illnesses and cognitive disorders, such as depression, dementia, anxiety, concussions, and attention-deficit/hyperactivity disorder (ADHD). Toronto, Ontario-based CBIZ Canada LLP, the Company's auditor since 2024, issued a "going concern" qualification in its report dated March 31, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has incurred significant losses and accumulated deficit 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 March 31, 2026, the Company had $10,910,000 in total assets, $2,468,000 in total liabilities, and $8,442,000 in total stockholders' equity. FIRST EMANUEL: Claims to be Paid from Income & Sale Proceeds ------------------------------------------------------------ First Emanuel Baptist Church filed with the U.S. Bankruptcy Court for the Eastern District of Louisiana a Plan of Reorganization under Subchapter V dated May 11, 2026. The Debtor is a Non-Profit Religious Corporation domiciled in Louisiana with its principal places of business located in New Orleans, Louisiana. The Debtor has been at its current location at 1829 Carondelet Street, New Orleans, Louisiana since the late 1950's. The Debtor is a church that operates a ministry and outreach services to the community. The church hosts weekly services, bible studies, and seminars. The Debtor also has a housing ministry, intended to provide affordable housing to low-income New Orleans residents. The Debtor has sought bankruptcy relief based on the actions of its previous pastor, Charles Southall. Southall served as the Executive Pastor of the Debtor beginning in 1989, and he is currently serving a five-year prison sentence for defrauding the Debtor in multiple ways: (i) diverting church tithes and donations to his personal accounts, (ii) diverting rental income from the housing ministry to his personal accounts, (iii) selling and encumbering the properties owned by the Debtor without the knowledge of the Debtor's Board of Trustees, and diverting the funds to his personal accounts, and (iv) money laundering. Hancock Whitney Bank ("HWB") is the holder and owner of that certain Promissory Note ("Note") dated September 29, 2014, executed by New Orleans Faith-Based Community Development Corporation, Inc. (hereafter referred to as "Obligor"), as maker, in favor of First NBC Bank ("FNBC"), in the original principal amount of $1,414,000.00, due and payable with interest, made payable to Bearer by that certain Allonge, all as is more fully described therein (hereafter collectively referred to as the "Note"). The property located at 1933 Wooddale Boulevard, Baton Rouge, Louisiana (the "Wooddale Property") was subject to the adversary proceeding captioned, First Emanuel Baptist Church v. Hancock Whitney Bank and Fairport Asset Management III REO, LLC, adversary case number 25-01022 (the "Adversary Proceeding"). HWB filed Proof of Claim 2, asserting a claim in the amount of $1,276,037.36. HWB agreed to purchase the Wooddale Property for a credit bid of $350,000, which will directly reduce the amount of proof of claim 2-1, to $926,037.36. The Debtor has entered into an Agreement to Purchase and Sell the property located at 1901 Carondelet (the "Carondelet Property") for an all-cash sale of $575,000.00. The Debtor will seek approval from this Court to sell the Carondelet Property; however, the property is subject to a due diligence period for 270-day period, and the sale is anticipated at the conclusion of the due diligence period. The net proceeds from the sale will be distributed to HWB. Under this Plan, the Debtor intends to distribute cash generated from the sale of the Carondelet Property to pay to HWB, donations and contributions. Class 3 consists of General Unsecured Claims. The Debtor pay in full on the Effective Date any claim under $100.00. Any Allowed Claim will be paid quarterly from projected disposable income starting the first full quarter after a final confirmation order, but no sooner than the first quarter of 2027, payable over the life of the plan. This Class is Unimpaired and not entitled to vote. The Debtor will fund its plan payments from its disposable income earned from its operations and distributions from the sale of real property. A full-text copy of the Plan of Reorganization dated May 11, 2026 is available at https://urlcurt.com/u?l=e4M5UW from PacerMonitor.com at no charge. Counsel for the Debtor: Douglas S. Draper, Esq. Greta M. Brouphy, Esq. Michael E. Landis, Esq. Lugenbuhl, Wheaton, Peck, Rankin & Hubbard (A Law Corporation) 601 Poydras Street, Suite 2755 New Orleans, LA 70130 Telephone: (504) 568-1990/Fax: (504) 310-9195 About First Emanuel Baptist Church First Emanuel Baptist Church is a Non-Profit Religious Corporation domiciled in Louisiana. The Debtor filed Chapter 11 petition (Bankr. E.D. La. Case No. 24-12026) on Oct. 16, 2024, listing between $1 million and $10 million in both assets and liabilities. Judge Meredith S. Grabill presides over the case. Douglas Draper, Esq., at Heller, Draper & Horn, LLC represents the Debtor as legal counsel. FLINT INTERNATIONAL: S&P Affirms 'BB' Rating on 2007 Revenue Bonds ------------------------------------------------------------------ S&P Global Ratings revised the outlook to negative from stable and affirmed its 'BB' long-term rating on International Academy of Flint (IAF), Michigan's series 2007 public school academy revenue bonds. S&P said, "The outlook revision reflects our view of IAF's weakened liquidity position, with fewer than 20 days' cash on hand (DCOH) at fiscal year-end 2025, with expectations for both minimal additions and continued positive operations expected for fiscal 2026. In our view, liquidity at this level limits operating flexibility and places pressure on leadership's ability to manage any fluctuations to revenue. "We analyzed the school's environmental, social, and governance factors and consider them neutral in our credit rating analysis. In our view, although IAF is located in a county with a declining school-aged population, the social capital risk is mitigated by management's recent success in stabilizing and increasing enrollment. "The negative outlook reflects a one-in-three chance we could lower the rating in the next year if liquidity does not improve. Any declines in revenue, especially from IAF not meeting its enrollment targets, could further limit management's operational flexibility. "We could lower the rating if liquidity levels do not improve, if operating performance declines leading to negative full-accrual operations and weakened coverage, or if any covenant violations occur. We could also lower the rating if enrollment were to materially decline. "We could revise the outlook to stable if IAF increases unrestricted cash reserves to levels more commensurate with the rating, amid maintenance of positive operations and moderating debt, while sustaining enrollment levels." FLOAT ALASKA: Unsecureds Will Get 1.1% to 11.2% of Claims in Plan ----------------------------------------------------------------- FLOAT Alaska LLC, submitted a Second Amended Combined Disclosure Statement and Chapter 11 Plan dated May 13, 2026. The Debtors propose the following Combined Disclosure Statement and Plan for the reorganization of Debtor NPA and liquidation of the Debtors' assets remaining after the sales of substantially all the Debtors' assets, and distribution of the proceeds of the remaining assets to the Holders of Allowed Claims against the Debtors. Through the Debtors' post-petition sale process, Owners Jet was designated as the successful bidder for the equity in NPA, the Debtor that holds the Reorganization Assets. Confirmation of the Plan will effectuate the transfer of the Reorganization Assets to the Plan Sponsor. For the avoidance of doubt, the Plan Sponsor is not an insider of any Debtor under section 101(31) of the Bankruptcy Code. The Plan Sponsor will make the Plan Sponsor Contribution in exchange for 100% of the equity of Reorganized NPA, and Reorganized NPA will receive a discharge of all Claims against it on the Effective Date, except as expressly stated otherwise in the Plan, the Plan Documents or the Confirmation Order. The Reorganization Assets will vest in Reorganized NPA free and clear of all Liens, Claims, encumbrances and interests. On the Effective Date, a Liquidating Trust will be established, and the Debtors' assets other than any remaining equity interest of any Debtors in NPA will vest in the Liquidating Trust as the Liquidating Trust Assets. The Liquidating Trust Assets will comprise, among other things, the Domain Name, the Trust Administration Reserve, Causes of Action, and any other remaining assets of the Debtors as of the Effective Date. The Liquidating Trustee will pursue or settle Causes of Action and liquidate any remaining assets in his, her or its discretion. The Liquidating Trustee will also administer and object to or settle claims against the Debtors, as appropriate, and make distributions to Holders of Allowed Claims. Pursuant to an agreement among the DIP Lender, the Committee and the Debtors, certain proceeds from the Sales which constitute the DIP Lender's or Prepetition Lender's collateral will be used to pay certain administrative expenses of the Estates that are in excess of the initial DIP Term Loan commitment under the Approved Budget (as defined in the Final DIP Order). In exchange, Jones Holding will receive under this Plan an Exit Note to be issued by the Liquidating Trust on the Effective Date and secured by a first priority security interest in the Liquidating Trust Assets, which shall be repaid from first dollars into the Liquidating Trust from the monetization of the Liquidating Trust Assets (other than the Trust Administration Reserve). The Debtors, the DIP Lender and the Committee have agreed to modify the Committee DIP Resolution in accordance with the terms of this Second Amended Plan to, among other things, permit the use of Sale proceeds that constitute the DIP Lender's cash collateral to fund certain Administrative Expenses that exceeded the amounts set forth in the Approved Budget in the Final DIP Order by making the Unfunded DIP Term Loans available to the Debtors with such cash collateral. Class 6 consists of General Unsecured Claims. Except to the extent that a Holder of an Allowed General Unsecured Claim agrees to less favorable treatment, on the Effective Date, in full and final satisfaction, compromise, settlement, release, and discharge of and in exchange for such Allowed General Unsecured Claim, and subject to the Committee DIP Resolution, each Holder shall receive its Pro Rata Share of the General Unsecured Claim Trust Interests (i.e. Pro Rata on a combined dollar for dollar basis with the Holders of Allowed Class 4 Claims). The allowed unsecured claims total $76 million to $98 million. This Class will receive a distribution of 1.1% to 11.2% of their allowed claims. On the Effective Date, the Liquidating Trust shall issue the Exit Note to the DIP Lender in a principal amount equal to the Exit Note Principal. The Exit Note shall accrue interest at a rate of ten percent per annum, payable in kind, which interest shall be capitalized and added to the outstanding principal balance on a monthly basis. The Exit Note and related documentation shall be filed with the Court as part of the Plan Supplement and be in a form reasonably acceptable to the DIP Lender, the Debtors and the Committee. The obligations under the Exit Note shall be secured by a first priority security interest in the Liquidating Trust Assets and their proceeds (other than the Trust Administration Reserve), which security interest shall be fully perfected upon entry of the Confirmation Order. The proceeds of any sale, disposition, or liquidation of any Liquidating Trust Assets (other than the Trust Administration Reserve) shall first be applied to satisfy all outstanding obligations under the Exit Note before any payments or distributions are made to any other party, including the Committee's Professionals, the Liquidating Trust Beneficiaries, the Liquidating Trustee or any professionals employed by the Liquidating Trustee. On or substantially contemporaneously with the Effective Date, the Liquidating Trust Agreement, the form and substance of which shall be reasonably acceptable to the Committee, the Debtors, and the DIP Lender, shall be executed, and all other necessary steps shall be taken to establish the Liquidating Trust to hold the Liquidating Trust Assets, which shall be for the benefit of the Liquidating Trust Beneficiaries. A full-text copy of the Second Amended Disclosure Statement dated May 13, 2026 is available at https://urlcurt.com/u?l=dx8I9R from PacerMonitor.com at no charge. Counsel to the Debtors: Paige N. Topper, Esq. Nicholas Smargiass, Esq. SAUL EWING LLP 1201 North Market Street Suite 2300 Wilmington, DE 19801-1125 Tel: 302-421-6800 Email: paige.topper@saul.com nicholas.smargiassi@saul.com - and - Zev M. Shechtman, Esq. 1888 Century Park East, Suite 1500 Los Angeles, CA 90067 Phone: (310) 255-6100 Email: zev.shechtman@saul.com About FLOAT Alaska LLC FLOAT Alaska LLC is the parent company of New Pacific Airlines and Ravn Alaska. The entity was formed in July 2020 and is engaged in aviation industry ventures that historically included scheduled air service, charter operations and regional connectivity in Alaska and beyond. FLOAT Alaska LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 26-10075) on January 26, 2026. 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 Craig T. Goldblatt handles the case. The Debtor is represented by Paige Noelle Topper, Esq. of Saul Ewing LLP. FLORIDA PROPERTIES: Commences Chapter 11 Bankruptcy in New York --------------------------------------------------------------- On May 19, 2026, Florida Properties AT, LLC sought Chapter 11 bankruptcy protection in the Eastern District of New York. Court filings show the company reported liabilities ranging from $1 million to $10 million and a creditor count between 1 and 49. A meeting of creditors filed by the Office of the United States Trustee under 341(a) to be held on June 22, 2026 at 12:00 PM at USA Toll-Free (888) 330-1716, USA Caller Paid/International Toll (713) 353-7024, Access Code 6982178. About Florida Properties AT, LLC Florida Properties AT, LLC is a real estate enterprise involved in property-related investments and operations. The debtor filed its Chapter 11 petition (Case No. 26-42419) on May 19, 2026, reporting estimated assets between $1 million and $10 million and estimated liabilities between $1 million and $10 million. The bankruptcy case is being overseen by Elizabeth S. Stong. The debtor is represented by Charles Wertman of Law Offices of Charles Wertman P.C. FLUENT INC: Net Loss Narrows to $5.4 Million in Q1 2026 ------------------------------------------------------- Fluent, Inc. has filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting a net loss of $5.4 million for the three months ended March 31, 2026, compared to a net loss of $8.3 million for the same period in the prior year. Revenues for the three months ended March 31, 2026 were $44.9 million, compared to $55.2 million in the prior-year period. Liquidity and Capital Resources Cash provided by operating activities. For the three months ended March 31, 2026, net cash provided by operating activities was $5.1 million, compared to net cash provided by operating activities of $2.1 million for the three months ended March 31, 2025. Net loss in the current year period of $5.4 million represents an improvement of $2.9 million, compared with net loss of $8.3 million in the prior period. Adjustments to reconcile net loss to net cash provided by operating activities of $1.2 million in the current year period decreased by $1.8 million, compared with net cash provided by operating activities of $3.0 million in the prior period. The decrease was primarily due to a $2.4 million non-cash gain on divestiture and lower depreciation and amortization, partly offset by the change in fair value adjustment of Convertible Notes with related parties of $0.8 million and increased share-based compensation expense. Changes in assets and liabilities generated cash of $9.3 million in the current year period, compared with generated cash of $7.3 million in the prior period, primarily due to ordinary-course changes in working capital, largely involving the timing of receipt of amounts owing from clients and disbursements of amounts payable to vendors. Cash used in investing activities. For the three months ended March 31, 2026 and 2025, net cash used in investing activities was $1.5 million and $1.6 million, respectively. The change was primarily due to payments received on the note receivable related to the Winopoly divestiture in the current year period. Cash used in financing activities. For the three months ended March 31, 2026, net cash used in financing activities was $6.3 million, compared to $5.2 million for the three months ended March 31, 2025. This was mainly due to the net repayments of $6.3 million on the Financing Agreement in the current year, compared to the net repayments of $10.0 million on the term loan and revolving credit facility entered into on April 2, 2024 with Crystal Financial LLC d/b/a SLR Credit Solutions, as administrative agent (the "SLR Credit Facility"), partly offset by proceeds received in the prior year period from the issuance of pre-funded warrants. As of March 31, 2026, the Company had noncancelable operating lease commitments of $3.4 million and debt with a $26.8 million principal balance. As of March 31, 2026, the Company had cash, cash equivalents, and restricted cash of $11.0 million, a decrease of $2.6 million from $13.6 million as of December 31, 2025. Going Concern With the continuing difficulties in sourcing traffic for its O&O Sites, the Company has shifted its strategic focus toward scaling its Commerce Media Solutions business. While Commerce Media Solutions has demonstrated growth and operates under a different economic model that reduces exposure to certain media sourcing risks, it represents a relatively new and evolving component of the Company's business. Further, the success of the Commerce Media Solutions transition depends on the Company's ability to continue to onboard and retain media partners, achieve favorable economics under long-term agreements, and maintain advertiser demand, and there can be no assurance that this strategy will be successful. Since entering into the Financing Agreement, the Company has continued to receive advances, as needed, on its eligible account receivables. However, the facility remains uncommitted, with the advances typically due within 120-days, leading to its classification as short-term. Although Bay View has indicated in writing its intention, absent an event of default, to continue purchasing eligible receivables in the ordinary course, and has made advances since the facility was entered into, such funding remains subject to the discretion of Bay View and the terms and conditions of the Financing Agreement. If availability under the facility were reduced or if Bay View were to cease advances, the Company could have insufficient funds to support its operations and meet its obligations as they come due unless it found another lender or purchaser of its receivables. Based upon the foregoing, management concluded that there is substantial doubt about the Company's ability to continue as a going concern. Based on its forecast, management expects to have sufficient liquidity over the next 12 months from the date of filing. However, the Company has a history of not meeting its forecast and any substantial deviations from such forecasts could adversely affect its liquidity and ability to access funding. In addition, the Company completed its procedures as it relates to the At-The-Market Issuance Sales Agreement, which will allow it to offer and sell up to $11.2 million shares of its common stock. The Company's ability to raise capital under this program, or through other financing sources, is subject to market conditions and other factors and may be limited or unavailable at acceptable terms, if at all. Although management believes its current plans will be sufficient and the Company will maintain access to the Bay View facility, there is no guarantee such plans will be successful or have the expected benefit. As such, management has concluded that there is substantial doubt about the Company's ability to continue as a going concern for one year after the date of issuance of this Quarterly Report on Form 10-Q. Capital Resources and Cash Requirements The Company's sources of capital include cash on hand, cash from operations to the extent available and borrowings from the Financing Agreement to the extent available. The Company has no other committed sources of capital. The Company's material cash requirements from known contractual and other obligations consist of its term loan and obligations under operating leases for office space. The Company's future cash requirements will depend on many factors, including employee-related expenditures from expansion of its headcount, costs to support the growth in its client and partner accounts and continued client expansion, the timing and extent of spending to support product development efforts, the expansion of sales and marketing activities, the introduction of new and enhanced solutions, features, and functionality, and litigation. The Company may, in the future, enter into arrangements to acquire or invest in complementary businesses, services, technologies, and intellectual property rights. In order to finance such acquisitions or investments, it may be necessary for the Company to raise additional funds through public or private financings or draw upon its facility. In the past, the Company has been able to secure funding from its officers, directors and the largest stockholder of the Company and has entered into an At-the-Market Issuance Sales Agreement to offer and sell its shares of common stock. However, if the Company does not meet the conditions to draw on the facility, or additional financing is not accessible from outside sources, it may not be able to raise additional capital on terms acceptable to it, or at all. If the Company is unable to raise additional capital when desired, its business, results of operations, and financial condition would be adversely affected. Financing Agreement On November 25, 2025, the Company, and its affiliates Fluent, LLC, Fluent Media Labs, LLC and AdParlor, LLC, each a wholly owned subsidiary of the Company, entered into an Accounts Receivable Finance Agreement with CSNK Working Capital Finance Corp. d/b/a Bay View Funding. Under the Financing Agreement, Bay View may extend financing to the Company based on eligible domestic and foreign accounts receivable, provided that the amount of advances thereon shall not exceed the lesser of a maximum credit of $30 Million or an amount equal to the sum of all advances less any funds received by Bay View pursuant to the Financing Agreement over the collection amounts adjusted for fees that is maintained in a reserve account. All collections of the financed receivables go directly to Bay View and are applied to the Company's obligations. The transfer of the receivables was recorded as secured borrowings in accordance with ASC 860, Transfers and Servicing, with the receivables remaining on the balance sheet as a current asset. As of March 31, 2026, the Financing Agreement had a balance of $24,053,000, which was recorded within current liabilities as the underlying receivables are typically due within 120-days and Bay View may require repayment of amounts outstanding beyond that period. In addition, the Company had $506,000 in its reserve accounts with Bay View as of March 31, 2026, which was recorded within prepaids and other current assets. The net unused advance as of March 31, 2026 was $6,453,000. The Financing Agreement has an initial term of 36 months and renews automatically for additional 12-month periods unless terminated in accordance with its terms. The Company is required to pay a facility fee in the amount of 0.50% of the Maximum Credit as of November 25, 2025 and then annually a 0.33% of the Maximum Credit as well as a finance charge based on prime plus 2.0% based on the average balance outstanding during the month. In addition, the Company will be required to pay certain administrative fees. The finance rate shall increase or decrease monthly but not be less than 8.75% for the first year from the initial funding date, 8.50% for the second year of the Initial Term and 8.25% for the third year of the Initial Term. As of March 31, 2026, the finance charge rate was 9.0%. The total cost of the Financing Agreement for the three months ended March 31, 2026 was $604, and was included in interest expense on the consolidated statements of operations. In addition, amortization of the debt discount for the year ended March 31, 2026 was $79,000, and was included in interest expense on the consolidated statements of operations. The Company's obligations under the Financing Agreement are secured by a security interest in substantially all of the Company's assets. The Financing Agreement contains customary representations, warranties, covenants and events of default, including repurchase obligations with respect to certain receivables. A full text copy of the Company's Form 10-Q is available at https://tinyurl.com/4uerhy2h. About Fluent Inc. Fluent, Inc. -- https://www.fluentco.com -- provides commerce media solutions that connect brands with consumers through customer acquisition and digital marketing campaigns. The Company utilizes proprietary machine learning, first-party data, and diverse ad inventory across partner ecosystems and owned sites. Headquartered in the U.S., Fluent has operated in the performance marketing sector since 2010. New York, New York-based Grant Thornton LLP, the Company's auditor since 2025, issued a "going concern" qualification in its report dated March 31, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has incurred historical losses, and is dependent on availability under an Accounts Receivable Finance Agreement. These conditions, along with other matters, raise substantial doubt about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $72.3 million in total assets, $59 million in total liabilities, and $13.3 million in total stockholders' equity. FORGENT POWER: S&P Assigns 'B' Issuer Credit Rating, Outlook Stable ------------------------------------------------------------------- S&P Global Ratings assigned its 'B' issuer credit rating to Forgent Power Solutions Inc. (indirect parent of Forgent Power LLC) and 'B' issue-level rating and '3' recovery rating to the repriced senior secured term loan. The stable outlook reflects S&P's view that favorable end-market demand will drive high revenue and earnings growth, resulting in S&P Global Ratings-adjusted leverage maintained below 3x through fiscal 2027. On Feb. 6, 2026, Forgent Power reorganized to a holding company through an umbrella partnership-C corporation transaction and executed an IPO. It executed a follow-on equity offering on March 30. S&P views Forgent Power LLC as a core subsidiary of Forgent. In May 2026, Forgent Power LLC repriced its senior secured $250 million revolving credit facility due in 2030 and $600 million term loan facility due in 2032. These actions are credit neutral, with anticipated modest cash interest savings. S&P said, "Our 'B' rating on Forgent reflects public financials now filed at this consolidated entity. Following our assignment of ratings on Forgent Power LLC (formerly Forgent Intermediate IV LLC) in December 2025, the company reorganized through an umbrella partnership-C corporation transaction and executed an IPO. Forgent Power LLC is an indirect wholly owned subsidiary of Forgent Power Solutions LLC and a core subsidiary of Forgent, in our view." Forgent is the publicly traded entity that is the ultimate and indirect parent of Forgent Power LLC. In May 2026, Forgent launched a repricing transaction of its senior secured $250 million revolving credit facility due in 2030 and $600 million term loan facility due in 2032, issued at subsidiary Forgent Power LLC. S&P said, "We expect the transaction, if completed as proposed, will save about $4.5 million in annual interest cost. We expect total debt outstanding to be unchanged at transaction close, supporting our view that the transaction is credit neutral." Forgent's scale and niche product focus present risks. These are offset by the favorable long-term growth prospects for its business, mission-critical nature of its equipment, and strong profitability. S&P said, "With revenue of $1.2 billion as of the last 12 months ended March 31 and offerings narrowly focused on electrical distribution equipment, we believe Forgent's business has limited scale and diversification compared with higher rated peers. Against larger global players in the broader electrical equipment category, Forgent's focus remains particularly within custom-designed products. We believe smaller, less diverse companies could be more prone to volatility during economic stress than larger diversified peers." S&P said, "Nonetheless, we believe strong tailwinds from increased investments in power-related infrastructure push favorable longer-term expansion prospects for the company's business. Specifically, we expect trends around increased investments in data centers (accounting for over a third of revenues), grid-hardening projects, and reshoring of manufacturing operations. "Further, we believe Forgent's products are mission-critical and nondiscretionary, driving sustained demand. We view the company's expected S&P Global Ratings-adjusted EBITDA margin in the low-20% area in 2026 compares favorably to industry averages. We attribute its solid profitability to its focus on higher-margin custom design equipment and ability to pass through costs given the high risk of failure and small share of overall project cost. "We expect rapid revenue and earnings growth on near-term backlog and demand. We also project that margins and returns will benefit from improved price-cost mix. Our base case assumes Forgent's revenues will increase 70%-75% in 2026 and a further 35%-40% in 2027, driven by near-term visibility on backlog and our expectations for continued strong end-market demand. In our view, Forgent has balanced exposure across the data center, power grid, and industrial end markets. Continued investments in these sectors will sustain demand over the next few years. Further, the company anticipates completing its capital expenditure (capex) plan in fiscal 2026 and realizing operating efficiencies due to improved fixed-cost absorptions from higher volumes. "Therefore, we expect earnings could increase faster than revenues, with increased S&P Global Ratings-adjusted EBITDA margins in the 21%-23% area through 2027 (compared with 20% in 2025) and return on capital in the 15%-20% area (compared with about 7%). "Our view of Forgent's financial risk incorporates its financial sponsor ownership and aggressive financial policies typical of such owners. Forecast S&P Global Ratings-adjusted leverage of about 2x-3x through fiscal 2027 provides a strong credit cushion. This compares favorably to leverage of 4.2x at the end of 2025, reflecting strong recent earnings increases and our expectation that favorable trends continue. Compared to our 6.5x downside leverage threshold and a less aggressive financial policy, Forgent is unlike most financial sponsor-owned entities. However, this policy has a short history and is untested through weaker market conditions. We also believe the company could remain opportunistic about pursuing debt-financed organic or inorganic improvement initiatives." Therefore, potential improvement in credit quality would be underpinned by commitment to maintain favorable credit measures through most market conditions and financial policy decisions. Adding to financial policy considerations--and uncertainty as to the permanence of its financial policy and governance--Forgent executed an IPO and follow-on equity offering in the third quarter (ended March 31). These transactions reduced financial sponsor NEOS Partners' ownership interest to 67.51%. Nonetheless, Forgent's steady cash generation and EBITDA interest coverage, which S&P forecasts to be above 5x by the end of 2026, mitigate a potentially aggressive financial policy. S&P said, "We expect $80 million-$200 million operating cash flow over fiscal years 2026 and 2027. While free operating cash flow (FOCF) could remain negative this fiscal year due to elevated capex needs from capacity expansion plans, we expect it to materially improve to over $100 million by fiscal 2027. "The stable outlook reflects our view that favorable end-market demand will drive high revenue and earnings improvement, offsetting Forgent's substantial debt burden. As such, we expect S&P Global Ratings-adjusted leverage below 3x through fiscal 2027. "Unlikely given our forecast for leverage, we could lower our rating on Forgent over the next 12 months if S&P Global Ratings-adjusted leverage deteriorates to over 6.5x." This could occur if: -- Business conditions materially weaken such that S&P Global Ratings-adjusted earnings are 50% lower than S&P's expectations or free cash flow fails to improve once the company completes its capacity expansion plans in 2026. Such a scenario could follow a severe downturn, drastically reducing demand for the company's products, or higher-than-expected inflation that cannot be passed on compresses margins more than 5%; or -- The company undertakes a more aggressive than expected financial policy--for instance, using debt to fund distributions or acquisitions. S&P views an upgrade as unlikely over the next 12 months, given Forgent's limited history under the current financial sponsor. However, S&P could raise its rating if: -- It establishes a longer record of S&P Global Ratings-adjusted debt to EBITDA well below 4x, sustained earnings, and positive FOCF, and S&P believes it can maintain this in most market conditions; and -- S&P believes management and financial sponsor owners are committed to maintaining these credit measures. FRIEDENBACH FAMILY: Committee Taps Olympus as Financial Advisor --------------------------------------------------------------- The official committee of unsecured creditors of Friedenbach Family Farms, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of California to hire Olympus Guardians LLC as its financial advisor. The firm will render these services: a. assist with financial reporting, analysis, and disclosures; b. support post petition financial management; c. provide financial and analytical assistance related to any anticipated sale of the Debtor's assets; d. provide financial advisory services in connection with any chapter 11 plan; e. to the extent necessary, provide financial and analytical support in discussions and negotiations with creditors, vendors, contract counterparties, and other parties in interest, including the preparation and analysis of financial information, recovery analyses, and proposed economic terms to support such negotiations; f. analyzing the Debtor's proposed business plans and developing alternative scenarios, if necessary; g. assessing the Debtor's various pleadings and proposed treatment of unsecured creditor claims therefrom; h. evaluate any sale transactions and any chapter 11 plan, including assisting with the preparation and analysis of financial and operational information; i. if necessary, participating as a witness in hearings before the Court with respect to matters upon which Olympus has provided advice; and j. provide such other financial advisory or other assistance as may be reasonably requested by the Committee consistent with Olympus's role as financial advisor and not duplicative of services provided by any other retained professionals. Olympus's current standard hourly rates are: Managing Directors / Partners $600 to $950 Vice Presidents $400 to $600 Analysts and Associates $150 to $400 Admin $70 to $150 Arian Eghbali, Olympus's CEO, 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: Arian Eghbali Olympus Guardians LLC 18653 Ventura Blvd, STE 107 Tarzana, CA 91356 Phone: (818) 815-2887 Email: Arian@olympusguardian.com About Friedenbach Family Farms LLC Friedenbach Family Farms, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Calif. Case No. 26-10638) on Feb 17, 2026, with $10 million to $50 million in both assets and liabilities. The petition was signed by Kurt Michael Friedenbach as manager. Judge Jennifer E. Niemann oversees the case. The Debtor is represented by Peter A. Sauer, Esq. at Fear Waddell, P.C. FTE NETWORKS: Hires Kantrow Law Group PLLC as Bankruptcy Counsel ---------------------------------------------------------------- FTE Networks Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to hire The Kantrow Law Group, PLLC, as counsel. The firm's services include: (a) analysis of the financial situation, and rendering advice and assistance to the Debtor; (b) representation of the Debtor; (c) preparation of motions, documents, applications, disclosure statement(s) and plan in connection with the case; and (d) provision of legal advice to the Debtor in connection with all matters pending before the Court. The firm will be paid at these rates: Partners $655 per hour Associates $365 per hour Paralegal $125 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Fred S. Kantrow, Esq., a partner at The Kantrow Law Group, PLLC, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: 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 FTE Networks Inc. FTE Networks Inc., formerly known as Beacon Enterprise Solutions Group, through its subsidiary US Home Rentals LLC, owns, operates and invests in affordable rental housing in tier 3 and 4 markets. FTE Networks Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-12465) on November 2, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $100 million and $500 million. Honorable Bankruptcy Judge David S. Jones handles the case. The Debtor is represented by Amalia Y. Sax-Bolder, Esq. of Brownstein Hyatt Farber Schreck, LLP and Fred Steven Kantrow, Esq. of The Kantrow Law Group, PLLC. GATES ENTERPRISES: Hires Kutner Brinen Dickey Riley as Counsel -------------------------------------------------------------- Gates Enterprises LLC seeks approval from the U.S. Bankruptcy Court for the District of Colorado to hire Kutner Brinen Dickey Riley, P.C. as counsel. The firm will render these services: (a) provide the Debtor with legal advice with respect to its powers and duties; (b) aid the Debtor in the development of a plan of reorganization under Chapter 11; (c) file the necessary petitions, pleadings, reports, and actions which may be required in the continued administration of the Debtor's property under Chapter 11; (d) take necessary actions to enjoin and stay until final decree continuation of pending proceedings and enjoin and stay until final decree herein commencement of lien foreclosure proceedings and all matters as may be provided under 11 U.S.C. Section 362; and (e) perform all other legal services for the Debtor which may be necessary. The firm will be paid at these hourly rates: Jeffrey Brinen, Attorney $600 Jenny Fuijii, Attorney $440 Jonathan Dickey, Attorney $425 Keri Riley, Attorney $410 Paralegal $100 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer from the Debtor in the sum of $30,000. Mr. Dickey 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: Jonathan Dickey, Esq. Kutner Brinen Dickey Riley, PC 1660 Lincoln Street, Suite 1720 Denver, CO 80264 Telephone: (303) 832-2400 Email: jmd@kutnerlaw.com About Gates Enterprises LLC Gates Enterprises LLC is a roofing company based in Lakewood, Colorado. Founded by Andrew Gates, the company provides exterior services including roof replacement, roof repair, storm and hail damage repair, siding, gutters, windows, paint, insurance restoration, and drone roof inspections. Gates Enterprises serves homeowners across Colorado's Front Range and created HailScore, a hail risk assessment tool. Gates Enterprises LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Col. Case No. 26-13280) on May 8, 2026, listing up to $50,000 in assets and $1 million to $10 million in liabilities. The petition was signed by Andrew Gates as president. Judge Joseph G Rosania Jr presides over the case. Jonathan M. Dickey, Esq. at KUTNER BRINEN DICKEY RILEY, P.C. serves as the Debtor's counsel. GEV IO: Hires Womble Bond Dickinson (US) LLP as Special Counsel --------------------------------------------------------------- GEV IO, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to hire Womble Bond Dickinson (US) LLP as special counsel. The firm's services include: a. representing the Debtors in connection with the Settlement and, solely to the extent necessary to advance the Debtors' interests in Settlement-related matters, certain of the Debtors' principals, provided that Womble will not seek payment from the Debtors' estates for services rendered solely for any non-Debtor principal; b. conducting investigations and analyses sufficient to advise the Debtors regarding the same; c. rendering services to the Debtors including, but not limited to, fact investigation, legal research, briefing, argument, discovery, negotiation, litigation, participating in meetings with the Debtors, the Debtors' advisors, the Debtors' management and board of directors, the Committee, the Committee's advisors, appearing and participating in hearings and status conferences and communicating and attending meetings with parties in interest, in each case, solely to the extent such services relate to Settlement-related matters; and d. performing all other necessary or requested litigation services in connection with, or resulting from, the Settlement. The firm's hourly rates are: Tyler Bridegan, Partner $650 Molly McDermid, Associate $570 Michael Barber, Associate $510 Rosa Reyes, Paralegal $310 In addition, the firm will receive reimbursement for its out-of-pocket expenses. Womble requested a prepetition retainer of $25,000 from the Debtors. Tyler Bridegan, Esq., a partner at Womble Bond Dickinson (US), 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 at: Tyler Bridegan, Esq. WOMBLE BOND DICKINSON (US) LLP 717 Texas Avenue, Suite 2100 Houston, TX 77002 Tel: (346) 998-7801 Fax: (346) 998-5901 Email: tyler.bridegan@wbd-us.com About GEV IO, LLC GEV IO, LLC, doing business as Nomad Internet, provides wireless internet services and related equipment, including modems, for rural communities, RV parks, travelers, and other customers across the United States. Founded in 2017 and based in Bulverde, Texas, the company operates as an authorized reseller of network services and offers enterprise, retail, and transportation-related connectivity solutions. GEV IO, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-31546) on April 8, 2026, listing $1 million to $10 million in assets and $10 million to $50 million in liabilities. The petition was signed by Jessica Garza as president. Judge Michelle V Larson presides over the case. Omar J Alaniz, Esq. at REED SMITH serves as the Debtor's counsel. GEV IO: Seeks Approval to Hire Reed Smith LLP as Counsel -------------------------------------------------------- GEV IO, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to hire Reed Smith LLP as counsel. The firm will provide these services: a. advise the Debtors with respect to their powers and duties as debtors and debtors-in-possession in the continued management and operation of their businesses and property; b. attend meetings and negotiate with representatives of creditors and other parties in interest and advise and consult on the conduct of the Chapter 11 Case, including all of the legal and administrative requirements of operating in chapter 11; c. take all necessary action to protect and preserve the Debtors' estates, including the prosecution of actions on their behalf, the defense of any actions commenced against the estates, and negotiations concerning all litigation in which the Debtors may be involved and objections to claims filed against the estates; d. prepare, on behalf of the Debtors, as debtors-in-possession, all necessary motions, applications, answers, orders, reports and other papers in connection with the administration of the Debtors' estates; e. appear in the Bankruptcy Court and any appellate courts and before the U.S. Trustee, and protect the interests of the Debtors' estates before such courts and the U.S. Trustee; f. take all necessary actions in connection with any chapter 11 plan and related disclosure statement and all related documents, and such further actions as may be required in connection with the administration of the Debtors' estates; and g. perform all other necessary legal services in connection with the prosecution of these Chapter 11 Cases; provided, however, that to the extent Reed Smith determines that such services fall outside of the scope of services historically or generally performed by Reed Smith as debtor's general co-counsel in a bankruptcy case, Reed Smith will file a supplemental declaration. The firm will be paid at these rates: Partners $995 to $2,300 per hour Counsel $460 to $1,815 per hour Associates $425 to $1,335 per hour Paralegals $105 to $805 per hour At present, the current rates of partners who will work on this matter range from $1,150 to $1,355, and the current rates of associates who will work on this matter range from $730 to $985. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Omar J. Alaniz of Reed Smith disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Omar J Alaniz, Esq. Dylan T.F. Ross, Esq. Reed Smith 2850 N. Hardwood Street Dallas, TX 75201 Tel: (469) 680-4292 Fax: (469) 680-4299 Email: oalaniz@reedsmith.com dylan.ross@reedsmith.com About GEV IO, LLC GEV IO, LLC, doing business as Nomad Internet, provides wireless internet services and related equipment, including modems, for rural communities, RV parks, travelers, and other customers across the United States. Founded in 2017 and based in Bulverde, Texas, the company operates as an authorized reseller of network services and offers enterprise, retail, and transportation-related connectivity solutions. GEV IO, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-31546) on April 8, 2026, listing $1 million to $10 million in assets and $10 million to $50 million in liabilities. The petition was signed by Jessica Garza as president. Judge Michelle V Larson presides over the case. Omar J Alaniz, Esq. at REED SMITH serves as the Debtor's counsel. GEV IO: Seeks to Hire Harney Partners as Financial Advisor ---------------------------------------------------------- GEV IO, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to hire HMP Advisory Holdings, LLC, dba Harney Partners, as financial advisor. The firm will render these services: a. assist the Debtors and their counsel with general matters related to a restructuring and contemplated chapter 11 proceeding, including but not limited to case strategy development, data gathering, and financial analysis, as needed; b. assist the Debtors with bankruptcy required reporting, including Monthly Operating Reports (MOR); c. assist the Debtors and their counsel, as requested, to complete Initial Debtor Interview questionnaire and related information, complete and file the required Schedules of Assets and Liabilities and Statement of Financial Affairs and prepare for Sec. 341 Meeting of Creditors; d. assist the Debtors and their counsel to obtain debtor-in-possession financing, if needed; e. assist the Debtors to develop and maintain thirteen-week cash forecasts and any budget-to-actual reporting or other reporting as may be required by potential debtor-in-possession financing; f. support the development of the Plan of Reorganization, including financial projections liquidation analysis, claims analysis and reconciliation, and other analysis, as needed; and g. other services as may be agreed upon between HP and the Debtors. The firm's hourly rates are: President/EVP/COO $700 to $900 Managing Director $550 to $750 Sr. Manager/Director $450 to $600 Manager $350 to $500 Sr. Consultant $300 to $400 Support Staff $180 to $300 The firm received a retainer in the amount of $40,000. Erik White, a managing director of Harney Partners, assured the court that his firm is a "disinterested person" within the meaning of section 101(14) of the Bankruptcy Code; and does not hold or represent any interest materially adverse to the Debtors or their estates. The firm can be reached through: Erik White, CIRA HMP Advisory Holdings, LLC dba Harney Partners Westech 360 8911 North Capital of Texas Highway Suite 2120 Austin, TX 78759 Phone: (512) 592-7740 Fax: (734) 494-2160 Email: ewhite@harneypartners.com About GEV IO, LLC GEV IO, LLC, doing business as Nomad Internet, provides wireless internet services and related equipment, including modems, for rural communities, RV parks, travelers, and other customers across the United States. Founded in 2017 and based in Bulverde, Texas, the company operates as an authorized reseller of network services and offers enterprise, retail, and transportation-related connectivity solutions. GEV IO, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-31546) on April 8, 2026, listing $1 million to $10 million in assets and $10 million to $50 million in liabilities. The petition was signed by Jessica Garza as president. Judge Michelle V Larson presides over the case. Omar J Alaniz, Esq. at REED SMITH serves as the Debtor's counsel. HEALING WITH CAARE: Hires Florence A. Bowens as Bankruptcy Counsel ------------------------------------------------------------------ Healing With Caare Inc. seeks approval from the U.S. Bankruptcy Court for the U.S. Bankruptcy Court for the Middle District of North Carolina to hire Florence A. Bowens PLLC as its counsel. The firm will render these services: a. give legal advice with respect to powers and duties as Debtor-in-Possession and the continued operation of its business and management of the property owned; b. prepare necessary applications, answers, order, reports and other legal papers; c. perform all other legal services; d. take necessary action to avoid liens against the Debtor's property obtained by creditors and to recover preferential payments made prior to the filing of said petition under Chapter 11; and e. make a detailed search of the records to determine the validly of all liens filed against the Debtor. The firm agrees to a flat fee of $6,000. The amount of $1,738 has been paid for the filing fee. As disclosed in the court filing, Florence A. Bowens PLLC does not hold any interests adverse to the Debtor and its estate. The firm can be reached through: Florence A. Bowens, Esq. Florence A. Bowens PLLC P.O. Box 51263 Durham, NC 27717 Phone: (919) 402-9700 About Healing With Caare Inc. Healing With Caare Inc, doing business as CAARE, Inc., operates a substance use treatment provider in Durham, North Carolina. The organization provides outpatient and residential treatment services, including outpatient counseling, opioid treatment, intensive and comprehensive outpatient programs, DWI services, counseling, clinical assessments, case management, peer support, and recovery support services. It serves adults with substance use disorders, and its residential program serves men in recovery. Healing With Caare Inc filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D.N.C. Case No. 26-80137) on May 6, 2026, listing $1 million to $10 million in assets and $500,000 to $1 million in liabilities. The petition was signed by Carolyn Hinton as president and executive director. Florence A. Bowens, Esq. at FLORENCE A. BOWENS, ATTORNEY AT LAW serves as the Debtor's counsel. HERENS MIDCO: S&P Places 'B-' ICR on CreditWatch Negative --------------------------------------------------------- S&P Global Ratings placed its 'B-' issuer credit rating and 'CCC' issue-level rating on Herens Midco S.a.r.l.'s (Arxada) senior unsecured notes on CreditWatch with negative implications. The CreditWatch negative placement reflects an increased chance of a negative rating action, including a downgrade to 'SD' (selective default) at closing of the transaction if implemented. On May 12, 2026, Herens Midco S.a.r.l. (Arxada) reached an agreement with its key financial stakeholders for a proposed recapitalization and amend-and-extend transaction. It entered into a transaction support agreement (TSA) with about 62% of senior secured lenders, 60% of its senior secured noteholders, and about 20% of senior unsecured noteholders on announcement. The proposed transaction includes a Swiss franc (CHF) 200 million new-money contribution by the sponsors. The transaction will extend the maturity of all instruments by three years, with an additional payment-in-kind (PIK) margin and duration fee for the revolving credit facility (RCF), term loan B (TLB), and senior secured noteholders. In addition, the senior unsecured notes will now have a PIK toggle option at the issuer's discretion, instead of cash payments as per original terms. The senior unsecured noteholders will receive less than originally promised due mainly to the shortfall in interest payments timing, despite a 50-basis-point (bp) interest premium. Therefore, S&P considers the proposed transaction to be a distressed exchange if implemented as per the company's plans and tantamount to a default on the instrument. S&P considers the proposed transaction to be distressed. There is a higher risk of a downgrade to 'SD' at closing if the proposed transaction is executed. S&P said, "Under the proposed terms, amendments to the senior secured facilities will likely be adequately compensated, in our view, hence a default on these facilities is unlikely. However, we would view the senior unsecured noteholders as inadequately compensated. As such, we would consider these a distressed exchange and would likely lower the issue-level ratings to 'D' at closing." The proposed terms of transaction include amendments to the following instruments: -- A three-year maturity extension on senior facilities, including the EUR430 million RCF to April 2031, and the $1.4 billion TLB and EUR1.1 billion TLB to July 2031. The cash interest margins will remain unchanged at 3.25% on the RCF and 4% on the TLBs, with additional PIK margins dependent on senior secured net leverage (up to 1.0% or automatically 1.0% if rated 'CCC') and duration fees up to 1.25%. -- A three-year maturity extension to July 2031 on the $350 million senior secured notes. The cash interest will remain unchanged at 4.75%, with additional PIK and duration fees in line with the RCF and TLB facilities. -- A three-year maturity extension to July 2032 on EUR460 million and $111 million senior unsecured notes, with a PIK toggle where the issuer may pay up to 100% of interest as PIK at the cash interest rate plus 50 bps. For all instruments, the amounts will remain at par and the cash interest rate or interest margins will remain unchanged. A CHF200 million new-money injection from the sponsors supplements the transaction and would partially repay the RCF, drawn at CHF273 million as of year-end 2025. In addition, this junior contribution would rank pari passu with the senior unsecured notes if the transaction is implemented as announced, either consensually or via a scheme of arrangement; otherwise, it would rank pari passu with consenting senior unsecured notes and senior to nonconsenting senior unsecured notes. S&P said, "We therefore consider this exchange to be distressed as we believe investors will receive less than the value promised without adequate offsetting compensation for the maturity extension, a change in the timing of payments, and potentially altering the rankings such that nonconsenting senior unsecured notes could become subordinated to the junior contribution. If the proposed transaction is executed as announced, we will likely lower the issue rating on the senior unsecured notes to 'D' and lower the issuer credit rating to 'SD' at closing. "We will likely lower ratings upon the closing date of the transaction. If implemented as announced, we will lower the issuer credit rating to 'SD' and lower the issue rating on the senior unsecured notes to 'D' upon execution of the amend-and-extend transaction. As of May 12, 2026, Arxada has entered into an agreement with about 62% by value of its senior credit facilities (RCF and TLBs), 60% of its senior secured notes, and 20% of its fixed-rate senior unsecured notes." To implement the amend-and-extend transaction on a fully consensual basis, Arxada requires the support of: -- All senior secured facilities (RCF and TLB holders); -- At least 90% of the senior secured noteholders; and -- At least 90% of each of the senior unsecured noteholders by value. Alternatively, if greater than 75% but less than the required majorities of senior secured facilities consensually participate, the transaction may be implemented through an English scheme of arrangement or other formal process. S&P would then monitor any revisions, including if some lenders will receive less than the original promise versus their respective terms. If less than 75% of the senior unsecured noteholders participate, S&P understands that Arxada will explore alternative implementation options. Stakeholders currently expect to close the consent request period on May 29, 2026, after which the company will determine an implementation route depending on the outcome of solicitations. S&P said, "We still forecast the underlying business to modestly improve, with earnings growth in 2026 and a return to positive free cash generation. We expect S&P Global Ratings-adjusted EBITDA margins to grow to about 19.5%, with continued price increases amid high inflation, a more competitive cost structure, contributions from innovations, and moderating one-off costs. "Despite the relative resilience of the core business and inorganic deleveraging potential, this would translate into about 9x S&P Global Ratings-adjusted debt to EBITDA in the current capital structure, which we view as elevated. We expect free operating cash flow to be positive in 2026 as profitability improves from cost savings and steady capital expenditure of about 5.5% of revenue. "The CreditWatch negative indicates that we could lower the issuer credit rating and senior unsecured ratings if the proposed transaction is implemented as announced. As is, the transaction would result in a downgrade of Arxada to 'SD' at closing." HERITAGE SALVAGE: Unsecured Creditors to Get Nothing in Plan ------------------------------------------------------------ Heritage Salvage Inc. submitted an Amended Small Business Plan of Reorganization under Subchapter V dated May 13, 2026. The Debtor's financial projections show that the Debtor will have projected disposable income of $18,044.50. The final Plan payment is expected to be paid on July 2031, which is anticipated to be 48 months after the effective date. This Plan of Reorganization proposes to pay creditors of the Debtor from cash flow from operations, future income, and infusions of capital from its principals when needed. Non-priority unsecured creditors holding allowed claims will receive distributions, which the proponent of this Plan has valued at approximately 0 cents on the dollar. This Plan also provides for the payment of administrative and priority claims. Class 3 consists of Non-priority unsecured creditors. The Debtor estimates that Class 3 claims will be paid nothing under the Plan. However, if the Priority Tax claimants are paid in full in less than the 48 month projected term of the Plan, the payments that are being made to Priority Tax claimants will be directed to the non-priority unsecured claims pro rata, with payments to commence the first month after full payment of the Priority Tax claimants. This Class is impaired. Class 4 consists of Equity security holders of the Debtor. Equity security holders shall retain their equity interests in the Debtor. The Debtor will continue operations and will fund plan payments with future income. The Debtor has recently purchased a redwood water tank that will yield approximately 7,500 board feet of saleable redwood lumber. Also, the Debtor will continue to streamline operations in order to reduce operating costs including effectuating its move to a smaller, less expensive facility within 12 months of the Effective Date. The Debtor contends the Plan has Effective Date feasibility. The Debtor has recently received return of preference payments made to American Express prepetition in the amount of $27,058.97. The Debtor will use these funds to ensure effective date feasibility. A full-text copy of the Amended Plan dated May 13, 2026 is available at https://urlcurt.com/u?l=FwsaXj from PacerMonitor.com at no charge. Counsel to the Debtor: Gina R. Klump, Esq. Law Office of Gina R. Klump 11 5th Street, Suite 102 Petaluma, CA 94952 Telephone: (707) 778-0111 Facsimile: (707) 339-8017 About Heritage Salvage Inc. Heritage Salvage Inc. operates a full-service reclaimed building materials and custom design and build facility in Petaluma, California. The Dbtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 25-10677) on October 26, 2025, listing between $100,001 and $500,000 in assets and liabilities. Mark Sharf, Esq., a practicing attorney in Los Angeles, serves as Subchapter V trustee. Judge William J. Lafferty presides over the case. Gina R. Klump, Esq., at the Law Office of Gina R. Klump, is the Debtor's counsel. HILBERT GROUP: Hires Grobstein Teeple LLP as Manager ---------------------------------------------------- Hilbert Group LLC seeks approval from the U.S. Bankruptcy Court for the Central District of Central to employ Grobstein Teeple LLP as manager. The firm will provide supporting and financial advisory services to the Debtor, including tax return preparation. The firm will be paid at these rates: Partners $425 to $780 per hour Managers & Directors $330 to $495 per hour Staff & Senior Accountants $175 to $375 per hour Paraprofessionals $95 to $250 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Howard B. Grobstein, a manager at Grobstein Teeple LLP, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Howard B. Grobstein Grobstein Teeple LLP 6300 Canoga Ave., Suite 1500W Woodland Hills, CA 91367 Telephone: (818) 532-1020 About Hilbert Group LLC Hilbert Group LLC is a company operating in [industry or sector, if known]. Hilbert Group LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10578) on February 24, 2026. In its petition, the debtor reports estimated assets between $10 million and $50 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Mark D. Houle handles the case. The debtor is represented by William J. Wall, Esq. of Wall & Son. HILBERT GROUP: Hires Raines Feldman as Bankruptcy Counsel --------------------------------------------------------- Hilbert Group LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Raines Feldman Littrell LLP as general bankruptcy counsel. The firm will provide these services: a. advise the Debtor with respect to the requirements and provisions of the Bankruptcy Code, Federal Rules of Bankruptcy Procedure, Local Bankruptcy Rules, U.S. Trustee Guidelines, and other applicable requirements that may affect the Debtor; b. assist the Debtor in preparing and filing its schedules and statement of financial affairs, complying with and fulfilling U.S. Trustee requirements, and preparing other documents as may be required after the initial filing of the chapter 11 case; c. assist the Debtor with the identification and recovery of property of the estate; d. assist the Debtor with refinance of the loans or a sale of the Property; e. assist the Debtor in the preparation of a disclosure statement and formulation of a chapter 11 plan of reorganization or, if appropriate, seeking a structured dismissal of the case; f. advise the Debtor concerning the rights and remedies of the estate and the Debtor in regard to adversary proceedings that may be removed to, or initiated in, the Bankruptcy Court; g. represent the Debtor in any proceeding or hearing in the Bankruptcy Court in any action where the rights of the estates or the Debtor may be litigated or affected; and h. provide such other services as may be necessary or otherwise arise during the pendency of this case. The firm will be paid at these rates: Kyra E. Andrassy $850 per hour Robert Yan $795 per hour Stephen M. Mott $595 per hour Bambi Clark, paralegal $495 per hour Connie-Marie Santiago $325 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Andrassy, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Kyra E. Andrassy, Esq. Raines Feldman Littrell LLP 4675 MacArthur Court, Suite 1550 Newport Beach, CA 92660 Telephone: (310) 440-4100 Facsimile: (310) 691-1943 Email: kandrassy@raineslaw.com About Hilbert Group LLC Hilbert Group LLC is a company operating in [industry or sector, if known]. Hilbert Group LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10578) on February 24, 2026. In its petition, the debtor reports estimated assets between $10 million and $50 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Mark D. Houle handles the case. The debtor is represented by William J. Wall, Esq. of Wall & Son. HUGHES SATELLITE: Q1 Net Loss Narrows to $7.7M; $1.5B Debt Due Aug. ------------------------------------------------------------------- Hughes Satellite Systems Corporation has filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting a net loss of $7.7 million for the three months ended March 31, 2026, compared to a net loss of $49 million for the same period in the prior year. Revenues for the three months ended March 31, 2026 were $324.9 million, compared to $277.7 million in the prior-year period. The Company cash and cash equivalents and marketable investment securities totaled $102 million as of March 31, 2026. Additionally, as of March 31, 2026, it has $1.5 billion of debt maturing in August 2026. Because the Company does not currently have the necessary Cash on Hand and/or projected future cash flows or committed financing to fund it obligations, including its debt maturities, for at least the next 12 months, substantial doubt exists about the Company's ability to continue as a going concern. To address its capital needs, the Company is in active discussions with funding sources to raise additional capital and/or restructure our outstanding debt. The Company cannot provide assurances that it will be successful in obtaining such new financing and/or restructuring the existing debt obligations necessary for us to have sufficient liquidity. In addition, its parent, EchoStar Corporation, may or may not provide additional liquidity in the future necessary to meet obligations as they come due. A full text copy of the Company's Form 10-Q is available at https://tinyurl.com/mvkvh699 About Hughes Satellite Hughes Satellite Systems Corporation is a holding company and a subsidiary of EchoStar Corporation. We offer broadband satellite technologies and broadband internet products and services to consumer customers. We provide broadband network technologies, managed services, equipment, hardware, satellite services and communications solutions to government and enterprise customers. We have leveraged our satellite fleet to deliver satellite services to unserved and underserved consumer markets in the Americas as well as enterprise, aeronautical and government markets. We also design, provide and install gateway and terminal equipment to customers for other satellite systems. In addition, we design, develop, construct and provide telecommunication networks comprising satellite ground segment systems and terminals to mobile system operators and our enterprise customers. McLean, Virginia-based KPMG LLP, the Company's auditor since 2011, issued a "going concern" qualification in its report dated March 30, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has significant debts maturing in 2026 and does not currently have the necessary cash on hand, projected cash flows, or committed financing to fund its obligations for at least 12 months from the issuance of the Company's consolidated financial statements that raise substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $1.9 billion in total assets, $2.8 billion in total liabilities, and $856.5 million in total stockholders' deficit. IAC INC: S&P Affirms 'BB' Issuer Credit Rating, Outlook Stable -------------------------------------------------------------- S&P Global Ratings affirmed our 'BB' issuer credit rating on U.S.-based IAC Inc. The stable outlook reflects S&P's expectation that IAC will maintain S&P Global Ratings-adjusted net leverage in the mid-2x area and generate free operating cash flow (FOCF) to debt of at least 10% over the next 12 months. IAC Inc. recently sold Care.com and shut down its search business, which follows its spinoff of Angi Inc. last year. It also announced plans to consolidate many of its corporate functions with Dotdash Meredith Inc. (dba People), which contributes nearly all of IAC's revenue and EBITDA, and rebrand to People Incorporated. These actions, along with People's continued healthy operating performance, modestly improve our view of IAC's business risk. At the same time, we believe IAC will likely pursue additional investments and shareholder returns. IAC's increasing focus on People modestly improves our view of its business risk. IAC recently completed the sale of Care.com and shut down its search business. As a result, People now represents the significant majority of IAC's revenue and EBITDA. The company also announced plans to consolidate many corporate functions between IAC and People, with the CEO and CFO of People taking on these respective roles for both companies. IAC plans to formally change its name to People Incorporated, reflecting the importance of People brand's going forward. S&P said, "The corporate consolidation will result in about $40 million of annualized cost savings. We forecast about $50 million of costs to achieve, which we do not add back to EBITDA, in 2026 and an additional $12 million in 2027." Despite Google search referrals declining 63% over the past two years, People's digital business has remained resilient, expanding at a high-single-digit percent pace. Non-session-based revenue, including advertising revenue from social media, events, email, and D/Cipher (People's proprietary cookieless ad targeting technology), has increased through partnerships with Open AI, Meta, Walmart, and Apple News, as has performance marketing revenue. People has outperformed its peers over the last year, overcoming AI-related headwinds, due to the strength of its brands. The company is exploring new products and services to monetize its brands, which could reduce exposure to advertising revenue. S&P said, "As IAC further narrows its focus on People, which has continued to have healthy operating performance, we revised our business risk of IAC to fair from weak, in line with our business risk assessment of People. "We believe IAC will likely pursue additional investments and shareholder returns. Following the revision of our business risk assessment, we now calculate IAC's leverage on a net basis, which we estimate will be in the mid-2x area over the next few years. IAC had cash and cash equivalents of about $1.1 billion as of March 31, 2026, which we believe it will use for additional investments and shareholder returns over the next few years." Management plans to continue to opportunistically buyback shares. IAC completed share repurchases totaling about $124 million in the first quarter of 2026 and $316 million in 2025. The company also plans to further invest in MGM. Its stake in MGM, originally 12%, now amounts to 26%. In addition, management expressed plans to add a dividend in the future, although likely not over the next few quarters. S&P said, "While our base case forecasts share repurchases, we have not modeled a potential dividend or additional MGM investments due to uncertainty around timing or the potential amount. IAC was historically acquisitive across sectors, but it has rationalized its portfolio over the past few years and expects to now focus on internal opportunities across People and its other brands, as well as its investment in MGM. "IAC's stake in MGM was valued at about $2.5 billion on its balance sheet as of March 31, 2026. While we do not expect IAC to monetize its equity stake, but rather to increase its investment, we still believe it provides additional credit strength. This is because IAC could sell a portion of its equity stake, if necessary, to provide additional financial flexibility during a potential period of stress. "The stable outlook reflects our expectation that IAC will maintain S&P Global Ratings-adjusted net leverage in the mid-2x area and generate FOCF to debt of at least 10% over the next 12 months." S&P could lower the rating if net leverage increases above 3.5x on a sustained basis. This could occur if: -- Macroeconomic conditions worsen such that digital revenue growth cannot outpace declines in print, reducing total revenue and EBITDA; -- IAC pursues a more aggressive financial policy, which could include shareholder returns or debt-financed acquisitions that are not immediately accretive; or -- The company significantly depletes its cash balance or investment in MGM. S&P could raise its rating on IAC if: -- The company commits to maintaining net leverage below 2.5x on an S&P Global Ratings-adjusted basis, including potential shareholder returns, and generates at least 10% FOCF to debt; or -- S&P takes a more favorable view of IAC's business due to it increasing scale and diversity while expanding EBITDA and EBITDA margins approaching 15%. IKPM PET SUPPLY: Case Summary & 10 Unsecured Creditors ------------------------------------------------------ Debtor: IKPM Pet Supply LLC Pet Supplies Plus 350 Promeenade Way #400 Sugar Land, TX 77478 Business Description: IKPM Pet Supply LLC operates a Pet Supplies Plus-branded pet retail store in Sugar Land, Texas. The store sells pet food and supplies and offers pet-related services, including grooming and self-serve pet wash services. Chapter 11 Petition Date: May 22, 2026 Court: United States Bankruptcy Court Southern District of Texas Case No.: 26-33610 Judge: Hon. Eduardo V Rodriguez Debtor's Counsel: Vicky M. Fealy, Esq. THE FEALY LAW FIRM, PC 1235 North Loop West Suite 1120 Houston TX 77008 Tel: (713) 526-5220 Email: vfealy@fealylawfirm.com Estimated Assets: $500,000 to $1 million Estimated Liabilities: $1 million to $10 million The petition was signed by Indrani Karthikeyan as managing member of IKPM Pet Supply LLC. A full-text copy of the petition, which includes a list of the Debtor's 10 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/RKNIVHQ/IKPM_Pet_Supply_LLC__txsbke-26-33610__0001.0.pdf?mcid=tGE4TAMA INTERNATIONAL LAND: First-Quarter Net Loss Widens to $2.74 Million ------------------------------------------------------------------ International Land Alliance Inc. reported a net loss of $2.74 million for the quarter ended March 31, 2026, compared with a net loss of $958,806 a year earlier, according to a Form 10-Q filing with the Securities and Exchange Commission. Net revenues and lease income rose to $956,836 from $548,624. Cost of revenues increased to $319,743 from $274,180, while gross profit increased to $637,093 from $274,444. Operating expenses increased to $2.81 million from $1.11 million, with general and administrative expenses accounting for $2.62 million, primarily due to stock issued for services during the first quarter of 2026. Loss from operations widened to $2.17 million from $837,661. Interest expense increased to $1.20 million from $179,171, while the company recorded a $1.28 million gain from a change in fair value of derivative liability and a $651,243 loss from conversion of debt to equity. As of March 31, 2026, International Land reported total assets of $32.47 million, total liabilities of $22.04 million and total stockholders' equity of $9.80 million. Cash was $15,635, current assets were $691,556 and current liabilities were $22.04 million. The filing showed current liabilities included convertible notes, promissory notes, related-party promissory notes, other loans, accrued interest and a derivative liability. The company said substantial doubt exists about its ability to continue as a going concern, citing liquidity shortages, a working capital deficit, its first-quarter net loss and an accumulated deficit of about $41.2 million as of March 31, 2026. A full-text copy of the Form 10-Q is available for free at: https://www.sec.gov/Archives/edgar/data/1657214/000149315226023672/form10-q.htm About International Land International Land Alliance Inc. is a Wyoming corporation incorporated in 2013 and based in San Diego. The company is a residential land development company with target properties in northern Baja California, Mexico, and Southern California. Its activities include acquiring properties, obtaining zoning and other entitlements, improving infrastructure and amenities, and selling plots to homebuyers, retirees, investors and commercial developers. In an audit report dated April 27, 2026, the company's auditor Bush & Associates CPA LLC included a going concern paragraph, stating that International Land suffered recurring losses and negative cash flows from operations in recent years and depended on debt and equity financing to fund operations. The auditor said those conditions raised substantial doubt about the company's ability to continue as a going concern. INVIVYD INC: Holders Elect Six Directors at Annual Meeting ---------------------------------------------------------- Invivyd Inc. stockholders elected six directors and ratified PricewaterhouseCoopers LLP as auditor for 2026 at the company's May 19 annual meeting, according to a Securities and Exchange Commission filing. The stockholders elected Tamsin Berry, Paul B. Bolno, M.D., Marc Elia, Terrance McGuire, Kevin F. McLaughlin and Ajay Royan to one-year terms expiring at the company's 2027 annual meeting. Ajay Royan received 192.86 million votes for election and 120,541 votes withheld, while Marc Elia received 173.59 million votes for election and 19.38 million votes withheld. Each director nominee had 29.72 million broker non-votes. The appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm for the fiscal year ending Dec. 31, 2026, received 222.58 million votes for, 80,390 votes against and 44,315 abstentions. About Invivyd Inc. Invivyd Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of monoclonal antibody therapies for the prevention and treatment of serious viral infectious diseases. The company's initial focus is SARS-CoV-2, the virus that causes COVID-19, and its first authorized monoclonal antibody is PEMGARDA, or pemivibart. Invivyd aims to use its antibody-development capabilities to pursue prevention or treatment options for COVID-19 and other high-need indications, including respiratory syncytial virus and measles. The company's principal executive office is in New Haven, Connecticut. In an audit report dated March 5, 2026, PricewaterhouseCoopers LLP included a going concern qualification, stating that Invivyd had incurred recurring losses from operations since inception and would require additional funding to finance future operations. The conditions raised substantial doubt about the company's ability to continue as a going concern. As of March 31, 2026, the company reported total assets of $241.74 million, total liabilities of $38.69 million and total stockholders' equity of $203.05 million. JAGUAR HEALTH: Issues Preferred for $22.7M Obligation Reduction --------------------------------------------------------------- Jaguar Health Inc. issued 908 shares of Series Q perpetual preferred stock to Uptown Capital LLC and Streeterville Capital LLC in exchange for about $22.7 million of reductions in royalty-interest balances, the company said in a filing with the Securities and Exchange Commission. The company issued 500 preferred shares to Uptown for a $12.5 million reduction in the balance of the December 2020 royalty interest. It issued 148 shares to Streeterville for a $3.7 million reduction and 260 additional shares to Streeterville for a $6.5 million reduction, each tied to the August 2022 royalty interest. Each Series Q preferred share is exchangeable or redeemable for common stock, subject to the certificate of designation filed with Delaware and effective May 19. The certificate authorized the company to issue up to 2,000 of its 4,475,074 authorized preferred shares as Series Q preferred stock. Holders are not entitled to dividends. The shares vote with common stock, not as a separate class, with voting based on the stock's stated value divided by the minimum price defined in the certificate, subject to a 9.99% voting cap and other limits. Jaguar Health said the preferred shares were issued under the Section 3(a)(9) exemption from Securities Act registration. About Jaguar Health Jaguar Health Inc. is a commercial-stage pharmaceuticals company focused on developing prescription products for gastrointestinal disorders, including plant-based medicines through its Napo Pharmaceuticals business. The company is based in San Francisco. RBSM LLP, based in Larkspur, California, audited Jaguar Health's consolidated financial statements for the year ended Dec. 31, 2025. The auditor said the company's accumulated deficit, recurring losses and expected future losses raised substantial doubt about its ability to continue as a going concern. As of March 31, 2026, Jaguar Health reported $37.43 million in total assets, $53.19 million in total liabilities, and a total stockholders' deficit of $15.75 million. JUPITER NEUROSCIENCES: Debts Exceed Assets by $2.8M at March 31 --------------------------------------------------------------- Jupiter Neurosciences, Inc.'s stockholder's deficit was US$2.8 million at March 31, 2026. The stockholder's deficit was US$1.8 million at Dec. 31, 2025. At March 31, 2026, the Company had total assets of US$4.0 million and total liabilities of US$6.7 million. At Dec. 31, 2025, the Company had total assets of US$5.6 million and total liabilities of US$7.4 million. On Oct. 24, 2025, the Company entered into a Standby Equity Purchase Agreement, pursuant to which the Company has the right to sell to an investor up to $20.0 million of its common stock, par value $0.0001 per share, subject to certain limitations and conditions. The Company is authorized to issue 500,000,000 shares of common stock and 5,000,000 shares of preferred stock. The Company had 36,281,352 shares of common stock issued and outstanding as of March 31, 2026. There was no preferred stock issued and outstanding as of March 31, 2026. The Company said: "For the three months ended March 31, 2026 and 2025, we generated net revenues of $18,652 and $0, respectively from product sales and reported net losses of $2,061,958 and $1,528,867, respectively, and negative cash flow from operating activities of $1,432,100 and $1,063,041, respectively. As noted in our financial statements, as of March 31, 2026 and December 31, 2025, we had an accumulated deficit of $36,728,984 and $34,667,026, respectively. There is substantial doubt regarding our ability to continue as a going concern as a result of our historical recurring losses and negative cash flows from operations as well as our dependence on private equity and financings." As of March 31, 2026, the Company had cash and cash equivalents of $2,362,749. Its cash equivalents are held in high yield savings account. Since inception, the Company has incurred net losses and negative cash flows from operations. On March 31, 2026, the Company had an accumulated deficit of $36,728,984. On Feb. 26, 2026, the Company received two written notices from the Listing Qualifications Department of Nasdaq notifying the Company that (i) the listing of the Company's Common Stock was not in compliance with the minimum bid price requirement as set forth under Nasdaq Listing Rule 5550(a)(2) for continued listing of its Common Stock on The Nasdaq Capital Market, as the closing bid price of the Common Stock was less than $1.00 per share for the previous 30 consecutive business days, and (ii) for the 30 consecutive business days ended Feb. 26, 2026, the Company's market value of listed securities closed below the $35 million threshold required for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(b)(2). Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company was provided 180 calendar days, or until Aug. 25, 2026, to regain compliance by maintaining a minimum closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days. During the three months ended March 31, 2026, the Company issued 50,000 shares of Common Stock, with an aggregate fair value of $46,750, as consideration for services rendered related to media and investor relations activities, strategic communications support, enhancement to the Company's market visibility and shareholder engagement. The fair value of the shares issued was determined based on the market price of the Company's Common Stock at the date of issuance and is included in general and administrative expenses in the accompanying condensed consolidated statement of operations. A full-text copy of the Form 10-Q is available at https://tinyurl.com/23b76z4t About Jupiter Neurosciences, Inc. Jupiter Neurosciences, Inc., is a clinical stage research and development pharmaceutical company located in Jupiter, Florida. It is advancing a therapeutic pipeline targeting central nervous system ("CNS") disorders and rare diseases, while also expanding into the consumer longevity market with its Nugevia product line. Both efforts are powered by JOTROL(TM), the Company's proprietary, enhanced resveratrol formulation that has demonstrated potential for significantly improved bioavailability. The Company's prescription pipeline is focused broadly on CNS disorders, presently with a planned Phase IIa clinical study in Parkinson's disease. The Company's Nugevia product line brings clinical-grade science to the supplement space, supporting mental clarity, skin health, and mitochondrial function. KALVISTA PHARMA: Debts Exceed Assets by $19.7M at March 31 ---------------------------------------------------------- KalVista Pharmaceuticals, Inc.'s stockholder's deficit was US$19.7 million at March 31, 2026. The stockholder's deficit was US$2.7 million at Dec. 31, 2025. At March 31, 2026, the Company had total assets of US$328.9 million and total liabilities of US$348.6 million. At Dec. 31, 2025, the Company had total assets of US$335.4 million and total liabilities of US$338.1 million. The Company disclosed that for the three months ended March 31, 2026, it used $14.5 million of cash in operating activities and had an accumulated deficit of $786.2 million. As of March 31, 2026, KalVista stated that it had cash, cash equivalents and marketable securities totaling $285.0 million and that this working capital "is anticipated to be sufficient to fund our operations for at least the next twelve months from the date these unaudited interim condensed consolidated financial statements are issued." On April 29, 2026, the Company entered into the Merger Agreement with Chiesi Farmaceutici S.p.A., Skyline Merger Sub, Inc., and KalVista Pharmaceuticals Limited. In the Merger Agreement, the Company has agreed to various covenants, including, among others, agreements to conduct its business in the ordinary course consistent with past practice in all material respects during the period between the execution of the Merger Agreement and the Effective Time. The Company said: "For the three months ended March 31, 2026, we incurred losses and cash outflows from operating activities. As of March 31, 2026, we had an accumulated deficit of $786.2 million and cash, cash equivalents and marketable securities totaling $285.0 million. We have funded operations primarily through a combination of equity financings, collaborations, strategic partnerships, royalty financing, license arrangements, convertible debt and product sales. Our working capital, primarily cash and cash equivalents and marketable securities, is anticipated to be sufficient to fund our operations for at least the next twelve months from the date these unaudited interim condensed consolidated financial statements are issued." A full-text copy of the Form 10-Q is available at https://tinyurl.com/4b7bczt2 About KalVista Pharmaceuticals, Inc. KalVista Pharmaceuticals, Inc. (NASDAQ: KALV) is a biopharmaceutical company focused on the development of novel therapeutics for the treatment of diseases related to the complement system. It primarily targets conditions such as hereditary angioedema and diabetic macular edema, aiming to address significant unmet medical needs in these areas. The Company operates within the biotechnology sector, leveraging its proprietary drug development platform to advance its product candidates. KARYOPHARM THERAPEUTICS: Adage Capital Holds 8.08% Equity Stake --------------------------------------------------------------- Adage Capital Management, L.P., Robert Atchinson, and Phillip Gross, disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of March 31, 2026, they each beneficially own 1,821,736 shares of Common Stock -- including 15,414 shares of Common Stock issuable upon exercise of warrants -- held directly by Adage Capital Partners, L.P., with Adage Capital Management, L.P. acting as investment manager, and with Robert Atchinson and Phillip Gross each acting as managing members of the general partner entities of both Adage Capital Partners, L.P. and Adage Capital Management, L.P. -- of Karyopharm Therapeutics Inc.'s Common Stock, par value $0.0001 per share, representing 8.08% of the 22,543,316 shares of Common Stock outstanding as of March 26, 2026, as reported in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on March 27, 2026, and assumes the exercise of the warrants to purchase shares of Common Stock held by Adage Capital Partners, L.P. Adage Capital Management, L.P. may be reached at: 200 Clarendon Street 52nd Floor Boston, MA 02116 Tel: 617-867-2800 A full-text copy of Adage Capital Management's SEC report is available at: https://tinyurl.com/2tdfckuv About Karyopharm Therapeutics Karyopharm Therapeutics Inc. operates as an oncology-focused pharmaceutical company. The Company offers combination with dexamethasone as a treatment for patients with pretreated multiple myeloma, as well as provides single-agent and combination activity against a variety of human cancers. Karyopharm Therapeutics serves patients in the United States, Germany, and Israel. Boston, Massachusetts-based Ernst & Young LLP, the Company's auditor since 2014, issued a "going concern" qualification in its report dated February 12, 2026, citing that the Company has incurred significant operating losses since inception, expects to incur significant operating losses for the foreseeable future and has stated that substantial doubt exists about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had $108.4 million in total assets and $401.3 million in total liabilities, and total stockholders' deficit of $292.9 million. KARYOPHARM THERAPEUTICS: Affinity Asset Advisors Holds 8.6% Stake ----------------------------------------------------------------- Affinity Asset Advisors, LLC and Michael Cho disclosed in a Schedule 13G (Amendment No. 2) filed with the U.S. Securities and Exchange Commission that as of March 31, 2026, they each beneficially own 2,073,517 shares of Karyopharm Therapeutics Inc.'s Common Stock, $0.0001 par value per share, representing 8.6% of the 24,116,833 shares of Common Stock outstanding as of March 30, 2026, consisting of: (a) the 22,543,316 shares of Common Stock of the Issuer outstanding as of March 30, 2026, as set forth in the Company's Definitive Proxy Statement filed with the Securities and Exchange Commission on April 13, 2026, and (b) 1,573,517 shares of Common Stock issuable upon the exercise of Warrants held by the Fund. Affinity Asset Advisors, LLC may be reached through: Andrew Weinstein, Chief Financial Officer and Chief Compliance Officer 450 Park Avenue Suite 1403 New York, NY 10022 Tel: 917-826-4533 A full-text copy of Affinity Asset Advisors's SEC report is available at: https://tinyurl.com/ye24ec3z About Karyopharm Therapeutics Karyopharm Therapeutics Inc. operates as an oncology-focused pharmaceutical Company. The Company offers combination with dexamethasone as a treatment for patients with pretreated multiple myeloma, as well as provides single-agent and combination activity against a variety of human cancers. Karyopharm Therapeutics serves patients in the United States, Germany, and Israel. Boston, Massachusetts-based Ernst & Young LLP, the Company's auditor since 2014, issued a "going concern" qualification in its report dated February 12, 2026, citing that the Company has incurred significant operating losses since inception, expects to incur significant operating losses for the foreseeable future and has stated that substantial doubt exists about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had $108.4 million in total assets and $401.3 million in total liabilities, and total stockholders' deficit of $292.9 million. KID CITY USA: Plan Exclusivity Period Extended to Sept. 1 --------------------------------------------------------- Judge Jason A. Burgess of the U.S. Bankruptcy Court for the Middle District of Florida extended Kid City USA Enterprises, Inc.'s exclusive periods to file a plan of reorganization and obtain acceptance thereof to Sept. 1 and Nov. 2, 2026, respectively. As shared by Troubled Company Reporter, the Debtor submits that cause exists for the extension requested in the instant Motion. More specifically: * This case involves a larger than average amount of creditors and interested parties. The Debtor's schedules reflect that there are more than one hundred creditors and interested parties. * The Debtor is generally paying its post-petition debts as they come due. * The Debtor seeks this additional extension of exclusivity in good faith, and not for the purpose of pressuring or otherwise attempting to prejudice the rights of any creditors. * The Debtor needs more time to negotiate with creditors, evaluate the claims as filed, and evaluate its claims against third parties to be able to prepare a correct and confirmable Chapter 11 Plan. * The Debtor submits that no creditor or party in interest will be prejudiced by granting the relief requested herein. Kid City USA Enterprises Inc. is represented by: Robert C. Bruner, Esq. Byron Wright III, Esq. Samantha A. Kelley, Esq. Bruner Wright, PA 2868 Remington Green Circle, Suite B Tallahassee, FL 32308 Telephone: (850) 385-0342 Facsimile: (850) 270-2441 Email: twright@brunerwright.com About Kid City USA Enterprises Kid City USA Enterprises, Inc., sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-00004) on Jan. 2, 2026, listing between $1 million and $10 million in both assets and liabilities. Audrey Bruner, president of Kid City USA Enterprises, signed the petition. Judge Jason A. Burgess oversees the case. The Debtor tapped Robert C. Bruner, Esq., at Bruner Wright, PA, as bankruptcy counsel, and Samuel Grier Wells, Esq., at GrayRobinson, PA, as special counsel. KKHR CONSTRUCCIONES: Hires JJ Accounting Services as Accountant --------------------------------------------------------------- KKHR Construcciones & Associados, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to employ JJ Accounting Services, PSC as accountant. The services to be provided are: a. general accounting; b. tax filings; c. employer obligations; and d. creating accounts and organizing the accounting system. The firm will charge $500 per month for its services. As disclosed in the court filings, JJ Accounting Services, PSC is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14). The firm can be reached through: Javier Vazquez JJ Accounting Services, PSC Estrella B-17, Alturas de Puerto Real Cabo Rojo, PR 00623-0212 Telephone: (787) 404-0373 Email: javier.acct.vazquez@gmail.com About KKHR Construcciones & Associados, Inc. KKHR Construcciones & Asociados Inc., doing business as KKHR Construction, provides construction services that include heavy equipment operations and concrete foundation work. KKHR Construcciones & Asociados Inc. d/b/a KKHR Construction in Ponce, PR, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. D.P.R. Case No. 26-00134) on Jan. 21, 2026, listing as much as $1 million to $10 million in both assets and liabilities. Norhem Martinez Perez as president, signed the petition. BUFETE EMMANUELLI, C.S.P. serve as the Debtor's legal counsel. KOKOMO RESTAURANT: Hires Davidoff Hutcher & Citron LLP as Attorney ------------------------------------------------------------------ Kokomo Restaurant, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire Davidoff Hutcher & Citron LLP as its attorneys. The firm will render these services: a. give advice to the Debtor with respect to its powers and duties as Debtor-in-Possession and 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 including, if need be, negotiations with the creditors and other parties in interest; c. prepare the necessary answers, orders, reports and other legal papers required for a debtor who seeks 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 the Debtor in all matters pending before the Court; e. attend meetings and negotiate with representatives of creditors and other parties in interest; f. advise the Debtor in connection with any potential refinancing of secured debt and any potential sale of the business; g. represent the Debtor in connection with obtaining post-petition financing; h. take any necessary action to obtain approval of a disclosure statement and confirmation of a plan of reorganization; and i. perform all other legal services for the Debtor which may be necessary for the preservation of the Debtor's estate and to promote the best interests of the Debtor, its creditors and the estate. The hourly rates of the firm's counsel and staff are: Robert L. Rattet, Partner $850 Jonathan S. Pasternak, Partner $850 Craig M. Price, Senior Counsel $750 James B. Glucksman, Of Counsel $600 John D. Molino, Associate $500 Eric R. Schachter, Associate $450 Melanie Spencer, Paralegal $295 In addition, the firm will seek reimbursement for expenses incurred. Robert Rattet, Esq., an attorney at Davidoff Hutcher & Citron, 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: Robert L. Rattet, Esq. Davidoff Hutcher & Citron LLP 120 Bloomingdale Road, Suite 100 White Plains, NY 10605 Telephone: (914) 381-7400 About Kokomo Restaurant LLC Kokomo Restaurant, LLC, a company based in Brooklyn, New York, operates a Caribbean-inspired restaurant in the Williamsburg waterfront district, serving elevated cuisine, cocktails, brunch, and related hospitality services. Opened in 2020, the restaurant offers dishes such as jerk chicken, oxtail, plantain pancakes, and flatbreads, along with a bar program and event-oriented dining spaces. The business is part of Kokomo Hospitality Group, which also operates in New York City's hospitality market. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-41685) on April 8, 2026, with $119,995 in assets and $1,811,093 in liabilities. Ria McKenzie, managing member, signed the petition. Judge Jil Mazer-Marino presides over the case. Robert L. Rattet, Esq., at Davidoff Hutcher & Citron, LLP represents the Debtor as legal counsel. LEGENCE HOLDINGS: S&P Places 'B+' ICR on CreditWatch Positive ------------------------------------------------------------- S&P Global Ratings placed all its ratings on Legence Holdings LLC, including the 'B+' issuer credit rating, on CreditWatch with positive implications. This indicates the possibility of an upgrade after S&P has assessed the company's financial policy plans, including its business prospects and appetite for leveraging acquisitions. At the same time, S&P assigned its 'BB-' issue-level rating and '2' recovery rating to Legence's repriced $995 million first-lien term loan due December 2031 and placed the rating on CreditWatch positive. Legence Holdings LLC--a provider of engineering, consulting, installation, and maintenance services--reported stronger-than-anticipated first-quarter 2026 results and raised its full-year guidance. In addition, financial sponsor Blackstone has meaningfully reduced its ownership stake in Legence, leading us to believe governance has improved and the company could follow prudent financial policies and capital deployment. S&P said, "The CreditWatch placement reflects the possibility of an upgrade after we review the sustainability of recent performance trends and the company's acquisition plans. Legence reported solid results for first-quarter 2026 (ended March 31) that meaningfully exceeded our expectations. For this quarter, revenues more than doubled to about $1 billion compared with the same period a year ago; meanwhile S&P Global Ratings-adjusted EBITDA increased around 55% to $360 million on a trailing twelve-month (LTM) basis. These results were driven by the acquisition of The Bowers Group; robust demand from customers, including data centers and technology clients; and greater cost leverage that were partly offset by certain one-time costs. Excluding this acquisition, revenues and EBITDA still grew at healthy, double-digit percent rates. Legence's backlog and awards of $5.4 billion could signal continued growth momentum, but we would need to understand the timing and realization of contract orders as well as the extent of any future debt-financed acquisitions. "An upgrade would be contingent on our assessment of Legence's financial policy. The company has a nascent track record of deleveraging following the use of IPO proceeds to reduce debt in 2025. We view Blackstone's winding down of its ownership (currently around 50%) as a positive credit factor, though the private equity sponsor still maintains two of six board seats. We will review the company's capital-allocation priorities and the likelihood of large debt-financed acquisitions that could erode credit quality. "We plan to resolve the CreditWatch placement within the next 90 days when we complete our assessment of the company's growth strategy, including any plans for debt-financed acquisitions. In our review, we would need to understand the magnitude of debt leverage the company could likely carry to support its expansion plans and what cushion it's willing to maintain to account for potential end-market swings. We would also assess the company's ability to effectively execute its strategy amidst rapid business expansion." LENA BRANDS: Deadline for Panel Questionnaires Set for May 28 ------------------------------------------------------------- The United States Trustee is soliciting members for committee of unsecured creditors in the bankruptcy cases of Lena Brands LLC, et al. If a party wishes to be considered for membership on any official committee that is appointed, it must complete a questionnaire available at https://tinyurl.com/yckbj9xu and return by email it to Linda Casey -- Linda.Casey@usdoj.gov -- at the Office of the United States Trustee so that it is received no later than Thursday, May 28, 2026 at 4:00 p.m. E.T. If the U.S. Trustee receives sufficient creditor interest in the solicitation, it may schedule a meeting or telephone conference for the purpose of forming a committee. About Lena Brands Lena Brands LLC, doing business as Coco's Bakery, Inc. and Shari's, operates family-style restaurant and bakery brands with roots dating to 1948 for Coco's in Corona Del Mar, California, and 1978 for Shari's in Hermiston, Oregon. The company's restaurant concepts offer American and Northwest comfort food, including breakfasts, salads, sandwiches, burgers, dinner entrees, desserts, and fresh-baked or specialty pies. Its brands support dine-in service and, where available, curbside pickup, delivery, and select outdoor dining ordering options. Lena Brands sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 26-10792) on May 15, 2026. In its petition, the Debtor reported estimated total assets of $1 million to $10 million and estimated liabilities of $10 million to $50 million. The petition was signed by Samuel Nicholas Borgese as sole member and owner. The Debtors' counsel is Pierson Ferdinand LLP. LEXORA INC: Seeks to Tap Davidoff Hutcher & Citron LLP as Attorney ------------------------------------------------------------------ Lexora Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to hire Davidoff Hutcher & Citron LLP as its attorneys. The firm will render these services: a. give advice to the Debtor with respect to its powers and duties as Debtor-in-Possession and 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 including, if need be, negotiations with the creditors and other parties in interest; c. prepare the necessary answers, orders, reports and other legal papers required for a debtor who seeks 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 the Debtor in all matters pending before the Court; e. attend meetings and negotiate with representatives of creditors and other parties in interest; f. advise the Debtor in connection with any potential refinancing of secured debt and any potential sale of the business; g. represent the Debtor in connection with obtaining post-petition financing; h. take any necessary action to obtain approval of a disclosure statement and confirmation of a plan of reorganization; and i. perform all other legal services for the Debtor which may be necessary for the preservation of the Debtor's estate and to promote the best interests of the Debtor, its creditors and the estate. The hourly rates of the firm's counsel and staff are: Robert L. Rattet, Partner $850 Jonathan S. Pasternak, Partner $850 Craig M. Price, Senior Counsel $750 James B. Glucksman, Of Counsel $600 John D. Molino, Associate $500 Eric R. Schachter, Associate $450 Melanie Spencer, Paralegal $295 In addition, the firm will seek reimbursement for expenses incurred. Robert Rattet, Esq., an attorney at Davidoff Hutcher & Citron, 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: Robert L. Rattet, Esq. Davidoff Hutcher & Citron LLP 120 Bloomingdale Road, Suite 100 White Plains, NY 10605 Telephone: (914) 381-7400 About Lexora Inc. Lexora Inc., founded in 2009 and headquartered in New York, sells bathroom and kitchen products through online and showroom channels. The company offers vanities, bathtubs, faucets, mirrors, lighting, and related accessories, and it also works with factories in Asia to develop and source its product lines. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-10751) on April 6, 2026, with $50,000 to $100,000 in assets and $1 million to $10 million in liabilities. Andrey Bogan, in his capacity as president, signed the petition. Robert L. Rattet, Esq., at Davidoff Hutcher & Citron, LLP represents the Debtor as legal counsel. LIU YUN CHEN: Secured Party Sets June 25, 2026 Public Auction ------------------------------------------------------------- In accordance with applicable provisions of the Uniform Commercial Code (the "UCC"), as enacted in the State of New York, by virtue of one or more Event(s) of Default under that certain Pledge and Security Agreement dated as of October 9, 2019 (the "Pledge Agreement"), executed and delivered by Liu Yun Chen, Yong Xiao Li, Zhou Min Ni, and Qiu Hui Lin ("Pledgor") and under that that certain Loan Agreement dated October 9, 2019 (the "Loan Agreement"), and in accordance with its rights as holder of the security, Eight Ten NYC LLC ("Secured Party"), will offer for sale (the "Auction"), at public auction, all right, title, and interest of Liu Yun Chen, Yong Xiao Li, Zhou Min Ni, and Qiu Hui Lin ("Pledgor"), in and to 100% of the limited liability company membership interests, together with all ownership rights associated therewith, in and to 10-12 MLANE, LLC, a New York limited liability company (the "Collateral"). Secured Party's understanding is that the principal asset of the pledged entity is that certain fee interest in real property commonly known as 8 Maiden Lane, New York, New York 10038 and 10-12 Maiden Lane, New York, New York 10038 (the "Property"). The Auction will be held on June 25, 2026, at 11:00 a.m. EDT both in-person at the top of the front steps outside of the New York Supreme Court located at 60 Centre Street, New York, New York 10007, and remotely with access afforded via Zoom or other web-based video conferencing and/or telephonic conference program selected by Broker, access to which will be made available to qualified bidders. Mannion Auctions, LLC under the direction of Matthew D. Mannion, William E. Mannion and/or John O'Keefe will conduct the Auction. Parties interested in bidding at the Auction may, subject to executing confidentiality agreements and meeting the bidder qualifications set forth in the bidding procedures (the "Bidding Procedures"), which can be obtained by contacting Broker as provided below, obtain additional information concerning the Collateral by contacting Broker. The Bidding Procedures provide additional information about the bidding process, including bidder qualifications, Auction participation and determination of the winning bid. The Collateral will be sold on an "AS-IS, WHERE IS, WITH ALL FAULTS" basis, without recourse, and without and express or implied representations or warranties whatsoever including, without limitation, as to the condition of title, value, or quality of the Collateral or the Property, or without regard to assets, liabilities, financial condition, or earnings of the debtor or any of their affiliates. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, ALL WARRANTIES, WHETHER OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR OTHERWISE, ARE EXPRESSLY DISCLAIMED. The sale of the Collateral is specifically subject to all taxes, liens, claims, assessments, liabilities and encumbrances, if any, that may exist against the Collateral under the UCC or other applicable law. Compliance with any requirements of the Securities Act of 1933, as amended, shall be at the sole risk, cost and expense of a prospective bidder. The Secured Party makes no representations or warranties and provides no assurances as to any Collateral. Prospective bidders should perform their own diligence as to the Collateral and may only purchase the Collateral in compliance with all applicable federal and state laws. The Secured Party reserves the right to determine which bidders qualify for participation in the Auction, reject any bid or all bids at the Auction, to announce such other terms at the Auction as may be commercially reasonable in the Secured Party's discretion or to accept non-conforming bids. Further, the Secured Party reserves the right to cancel, postpone, or adjourn the Auction by announcement made at the Auction, either before or after the commencement of bidding, without written notice. The Secured Party reserves the right to credit bid any portion of its secured indebtedness then outstanding under the Loan Agreement at the Auction. All inquiries concerning the terms and conditions of the sale (including requirements to be a "qualified bidder") should be made to: Northgate Real Estate Group ("Broker"), 1633 Broadway 46th Floor New York NY 10019, Attn: Greg Corbin, Tel. 212.369.1800, email Greg@northgatereg.com. Any person making any inquiry or request must: (i) disclose the person or entity on whose behalf such information is being sought, (ii) execute the confidentiality agreement, which will be provided upon request, and (iii) maintain the confidentiality of the information provided in accordance with the confidentiality agreement. Counsel for Secured Party: Amier Shenoda, Esq. Westerman Ball Ederer Miller Zucker & Sharfstein, LLP Tel: (516) 622-9200 E-mail: ashenoda@westermanllp.com LIVEONE INC: Holds 71.5% Equity Stake in PodcastOne, Inc. --------------------------------------------------------- LiveOne, Inc. disclosed in a Schedule 13D (Amendment No. 2) filed with the U.S. Securities and Exchange Commission that as of May 11, 2026, it beneficially owns 20,430,126 shares of common stock consisting of 20,430,126 shares of common stock directly beneficially owned by the Company, including 1,100,000 shares acquired on May 11, 2026 pursuant to the exercise of Bridge Warrants and 135,135 shares acquired on March 21, 2026 as a result of the settlement of intercompany balances owed by the PodcastOne, Inc. to LiveOne, Inc. The shares owned represents 71.5% of the 27,487,964 shares of common stock issued and outstanding as of April 7, 2026, as reported by the PodcastOne in Amendment No. 1 to its Registration Statement on Form S-3 (Registration No. 333-294892), filed with the U.S. Securities and Exchange Commission on April 10, 2026. LiveOne, Inc. may be reached through: Robert S. Ellin, Chief Executive Officer LiveOne, Inc. 269 South Beverly Dr., Suite #1450 Beverly Hills, CA 90212 Tel: (310) 601-2505 A full-text copy of LiveOne, Inc.'s SEC report is available at: https://tinyurl.com/jcbywwzc About LiveOne Headquartered in Beverly Hills, California, LiveOne, Inc. -- www.liveone.com -- is a creator-first, music, entertainment and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events. The Company is a pioneer in the acquisition, distribution and monetization of live music events, Internet radio, podcasting/vodcasting and music-related membership, streaming and video content. Through its comprehensive service offerings and innovative content platform, it provides music fans the ability to listen, watch, attend, engage and transact. Serving a global audience, the Company's mission is to bring the experience of live music and entertainment to consumers wherever music and entertainment is watched, listened to, discussed, deliberated or performed around the world. New York, New York-based Macias Gini & O'Connell LLP, the Company's auditor since 2022, a "going concern" qualification dated July 15, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2025. Macias Gini & O'Connell cited that the Company has suffered recurring losses from operations, negative cash flows from operating activities and has a net capital deficiency. These matters raise substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had $52.3 million in total assets, $62.8 million in total liabilities, and $10.5 million in total stockholders' deficit. LQR HOUSE: First-Quarter Net Loss Narrows to $915K -------------------------------------------------- LQR House Inc. reported a net loss of $914,969 for the quarter ended March 31, 2026, compared with a net loss of $2.39 million a year earlier, according to a Form 10-Q filing with the Securities and Exchange Commission. Total revenue fell to $222,683 from $429,340. The company reported a gross loss of $22,236, compared with gross profit of $30,158 a year earlier. Operating expenses increased to $2.89 million from $2.43 million, and loss from operations widened to $2.91 million from $2.40 million. Other income increased to $1.99 million from $10,206, primarily because of $1.94 million in insurance proceeds. As of March 31, 2026, LQR House reported total assets of $29.97 million, total liabilities of $1.55 million and total stockholders' equity of $28.42 million. Cash and cash equivalents were $4.44 million, while accumulated deficit was $68.74 million. The company said conditions raised substantial doubt about its ability to continue as a going concern, citing losses since inception, the quarterly net loss, accumulated deficit and net cash used in operating activities of $1.45 million. LQR House added it intends to pursue additional equity or debt financings, at-the-market offering proceeds, strategic partnerships or other capital-raising transactions, and that it may curtail operations or conserve cash if adequate capital cannot be secured. A full-text copy of the Form 10-Q is available for free at: https://www.sec.gov/Archives/edgar/data/1843165/000121390026057681/ea0290015-10q_lqrhouse.htm About LQR House LQR House Inc. is a Delaware corporation operating in wine and spirits e-commerce and alcohol-industry marketing. Its operations include U.S. e-commerce sales through CWSpirits.com, development of its SWOL Tequila brand and marketing services for external brands, including site advertising, email campaigns and influencer marketing. In an audit report dated April 15, 2026, Enrome LLP included a material uncertainty paragraph related to going concern, stating that LQR House had an accumulated deficit of $67.83 million as of Dec. 31, 2025, a net loss of $25.52 million for 2025 and operating cash outflow of $33.82 million for 2025. The auditor said those factors raised substantial doubt about the company's ability to continue as a going concern. LRG BUILDER: Lisa Holder Named Subchapter V Trustee --------------------------------------------------- The U.S. Trustee for Region 17 appointed Lisa Holder, Esq., a practicing attorney in Bakersfield, Calif., as Subchapter V trustee for LRG Builder Services, Inc. Ms. Holder 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. Holder declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Lisa Holder, Esq. 3710 Earnhardt Drive Bakersfield, CA 93306 Phone: (661) 205-2385 Email: lholder@lnhpc.com About LRG Builder Services Inc. LRG Builder Services, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Calif. Case No. 26-12118) on May 8, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Jennifer E. Niemann presides over the case. David C. Johnston, Esq., represents the Debtor as legal counsel. LUMEN TECHNOLOGIES: Refinances $2.4B Level 3 Term Loan Facility --------------------------------------------------------------- Lumen Technologies, Inc. announced in a regulatory filing that Level 3 Financing, Inc., an indirect wholly owned subsidiary of the Company and a direct wholly owned subsidiary of Level 3 Parent, LLC: (i) refinanced all of the outstanding secured term B-4 loan facilities under its existing Credit Agreement, dated March 22, 2024, by and among Level 3, Level 3 Parent, Wilmington Trust, National Association, as administrative agent and collateral agent, and the lenders from time-to-time party thereto and (ii) entered into an amendment to the Existing Level 3 Credit Agreement. The Third Amendment amended the Existing Level 3 Credit Agreement to, among other things: (i) reduce the pricing on Level 3's term loan facility, (ii) within 180 days of the Amendment Date, enable Wilmington Trust, National Association to resign as administrative agent and Bank of America, N.A. to automatically succeed as administrative agent in accordance with the terms of the Third Amendment, (iii) make certain other modifications to the covenants thereunder, and (iv) to make related changes to effect such repricing and agency transfer. Immediately following the Credit Facilities Transactions, Level 3 had $2,400 million of outstanding borrowings under the Term Loan Facility. Borrowings under the Term Loan Facility will not amortize. Borrowings under the Term Loan Facility will accrue interest at a per annum rate equal to, at Level 3's option, either: (i) the base rate (which is the highest of (x) the overnight federal funds rate, plus 0.50%, (y) the prime rate on such day, and (z) the one-month Secured Overnight Financing Rate published on such date, plus 1.00%), plus an applicable margin, or (ii) one-, three- or six-month SOFR, plus an applicable margin. The applicable margin for SOFR loans under the Term Loan Facility will be 2.75% and the applicable margin for base rate loans under the Term Loan Facility will be 1.75%. The Term Loan Facility is subject to a SOFR floor of 0.00%. The Term Loan Facility matures on March 27, 2032. Level 3 may voluntarily prepay loans or reduce commitments under the Term Loan Facility, in whole or in part, subject to minimum amounts, with prior notice, but without premium or penalty (other than a 1.00% premium on any prepayment in connection with a repricing transaction prior to the date that is six months after the Amendment Date). Level 3 is required to prepay the Term Loan Facility with 100% of the net cash proceeds of certain asset sales and 100% of the net cash proceeds of certain debt issuances, in each case, subject to certain exceptions. The obligations under the Term Loan Facility are guaranteed by substantially all of Level 3's material, wholly-owned domestic subsidiaries, subject to certain customary exceptions. In addition, the Company provides a separate parent guarantee pursuant to a parent guarantee agreement, which guarantee is unsecured and is voluntarily releasable by the Company at its sole discretion. The Term Loan Facility is secured by a first priority lien on substantially all of Level 3's and the Guarantors' current and fixed assets (subject to certain exceptions), subject to certain permitted liens. The Term Loan Facility contains customary negative covenants, including, but not limited to, restrictions on the ability of Level 3 and its subsidiaries to merge and consolidate with other companies, incur indebtedness, grant liens or security interests on assets, pay dividends or make other restricted payments, optionally prepay or modify terms of certain junior indebtedness, sell or otherwise transfer certain assets, or enter into transactions with affiliates (in each case subject to permitted exceptions). The full text copy of the Third Amendment is available at https://tinyurl.com/3748wpx5 About Lumen Technologies Headquartered in Monroe, Louisiana, Lumen Technologies, Inc. -- https://lumen.com/ -- is a facilities-based technology and communications Company that provides a broad array of integrated products and services to its domestic and global business customers and its domestic mass markets customers. The Company's platform empowers its customers to swiftly adjust digital programs to meet immediate demands, create efficiencies, accelerate market access, and reduce costs, which allows its customers to rapidly evolve their IT programs to address dynamic changes. * * * S&P Global Ratings assigned its 'B+' issue-level rating and '1' recovery rating to Lumen Technologies Inc.'s proposed $825 million first-lien senior secured revolving credit facility due 2029. The '1' recovery rating indicates S&P's expectation for very high (90%-100%; rounded estimate: 95%) recovery in the event of a payment default. The revolving credit facility will replace the Company's existing $950 million super-priority revolver due 2028, which was split into two tranches. While the revolver is smaller, the new $13 billion of hyperscaler contracts reduces the need for a larger facility. S&P also believes the Company could look to refinance or add a new revolver over time under the Level 3 entity. LUNAI BIOWORKS: Stockholders OK Reverse Split at Up to 1:30 ----------------------------------------------------------- Lunai Bioworks Inc. held a special meeting of stockholders. The final voting results for the proposals submitted to a vote of stockholders are set: Proposal 1: To approve an amendment to the Company's Certificate of Incorporation, as amended, to effect a reverse stock split of the outstanding shares of the Company's common stock at a ratio in the range of 1-for-3 to 1-for-30, with the exact ratio to be determined by the Company's Board of Directors in its sole discretion. Votes For: 13,571,288 Votes Against: 1,153,415 Abstentions: 61,177 Broker Non-Votes: 0 Result: Approved Proposal 2: To approve the adjournment of the Special Meeting, if necessary or appropriate, including to solicit additional proxies if there are insufficient votes at the time of the Special Meeting to approve Proposal 1. Votes For: 13,626,029 Votes Against: 1,091,528 Abstentions: 68,323 Broker Non-Votes: 0 Result: Approved About Lunai Bioworks Headquartered in Los Angeles, Calif., Lunai Bioworks Inc. (formerly Renovaro Inc.) is an AI-powered drug discovery and biodefense Company pioneering safe and responsible generative biology. With proprietary neurotoxicity datasets, advanced machine learning, and a focus on dual-use risk management, Lunai is redefining how artificial intelligence can accelerate therapeutic innovation while safeguarding society from emerging threats. Draper, Utah-based Sadler, Gibb & Associates, LLC, the Company's auditor since 2018, 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 incurred substantial recurring losses from operations, has used cash in the Company's continuing operations, and is dependent on additional financing to fund operations, which raises substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had total assets of $6.7 million, $20.2 million in total liabilities, and $13.5 million in total shareholders' deficit. MANNATECH INC: Liabilities Exceed Assets by $5.6M at March 31 ------------------------------------------------------------- Mannatech Inc.'s stockholder's deficit was US$5.6 million at March 31, 2026. The stockholder's deficit was US$5.2 million at Dec. 31, 2025. At March 31, 2026, the Company had total assets of US$29.88 million and total liabilities of US$35.4 million. At Dec. 31, 2025, the Company had total assets of US$30.0 million and total liabilities of US$35.2 million. The Company says it considers all highly liquid investments with original maturities of three months or less at the date of acquisition to be cash equivalents. Cash and cash equivalents was $7.0 million at March 31, 2026, and $6.2 million at Dec. 31, 2025. The Company includes in its cash and cash equivalents credit card receivables due from its credit card processor, as the cash proceeds from credit card receivables are received within 24 to 72 hours. At March 31, 2026, and Dec. 31, 2025, credit card receivables were $2.5 million and $2.2 million, respectively, and cash and cash equivalents held in bank accounts in foreign countries totaled $4.5 million and $4.3 million at March 31, 2026, and Dec. 31, 2025, respectively. The Company invests cash in liquid instruments, such as money market funds and interest-bearing deposits. The Company holds cash in high quality financial institutions and does not believe it has significant exposure to credit concentration risk. The Company is required to restrict cash for: (i) direct selling insurance premiums and credit card sales in the Republic of Korea; (ii) reserves related to credit card sales in the United States and Canada; and (iii) the Australia building lease collateral. At March 31, 2026, and Dec. 31, 2025, the Company's total restricted cash was $0.4 million and $0.8 million, respectively. The Company's management has prepared cash flow projections that incorporate cost-cutting measures and plans, as well as historical liquidity trends, and reflect its best estimates of future operating performance and liquidity needs. While management plans to take appropriate actions to increase its liquidity, the Company says there can be no assurance that the Company will be successful in its efforts, and there can be no assurance that, assuming the Company is able to strengthen its cash position, it will achieve sufficient revenue or profitable operations to continue as a going concern. A full-text copy of the Form 10-Q is available at https://tinyurl.com/5n7yta2s About Mannatech, Incorporated Mannatech, Incorporated (NASDAQ: MTEX) is a Texas-based company that develops, markets, and sells proprietary nutritional supplements, skin care and anti-aging products, and weight-management products. It primarily operates through network marketing distribution channels and serves customers across the Americas, EMEA, and Asia/Pacific regions, including a traditional retail operation in mainland China. The Company's products are available to independent associates and preferred customers, who purchase at wholesale prices. MBIA INC: Wolf Hill Capital Management Holds 5% Equity Stake ------------------------------------------------------------ Wolf Hill Capital Management, LP, Wolf Hill General Partner, LLC, and Gary Lehrman disclosed in a Schedule 13G (Amendment No. 1) filed with the U.S. Securities and Exchange Commission that as of March 31, 2026, they beneficially own the following shares of MBIA Inc.'s Common Stock par value $1 per share: * Wolf Hill Capital Management, LP - 2,545,543 shares, representing 5% of the shares outstanding. * Wolf Hill General Partner, LLC - 2,221,972 shares, representing 4.4% of the shares outstanding. * Gary Lehrman - 2,545,543 shares, representing 5% of the shares outstanding. Wolf Hill Capital Management, LP. may be reached through: Gary Lehrman, Managing Member 35 Mason Street, 2nd Floor Greenwich, CT 06830 Tel: 646-933-5538 A full-text copy of Wolf Hill Capital Management's SEC report is available at https://tinyurl.com/5crfxzy5 About MBIA Inc. Headquartered in Purchase, Harrison, New York, MBIA Inc. provides financial guarantee insurance and other forms of credit protection. As of December 31, 2025, the Company had $2 billion in total assets, $4.2 billion in total liabilities, and $2.2 billion in total deficit. * * * Egan-Jones Ratings Company on June 4, 2025, maintained its 'CCC-' foreign currency and local currency senior unsecured ratings on debt issued by MBIA Inc. MCGEACHY HOLDING: Seeks to Hire Biggs Law Firm as Legal Counsel --------------------------------------------------------------- McGeachy Holding LLC and its debtor-affiliates seek approval from the United States Bankruptcy Court for the Eastern District of North Carolina to hire Laurie B. Biggs, Esq. of Biggs Law Firm, PLLC to serve as legal counsel. The firm will provide these services: (a) undertake any and all steps and actions necessary to authorize the use of cash collateral pursuant to Sec. 363 of the Bankruptcy Code, if applicable; (b) advise the Debtor with respect to its powers and duties as debtor-in-possession in the continued management, operation, and reorganization of its business; (c) review any and all claims asserted against the Debtor by its creditors, equity holders, and parties in interest; (d) represent the Debtor's interests at the Meeting of Creditors under Section 341 of the Bankruptcy Code and at any other hearing or conference scheduled in the Bankruptcy Case before the Court; (e) attend meetings, conferences, and negotiations with representatives of creditors and other parties in interest; (f) review and examine, if necessary, any and all transfers which may be avoided as preferential or fraudulent transfers under the Bankruptcy Code; (g) take necessary actions to protect and preserve the Debtor's estate, including prosecution or defense of actions, negotiations concerning litigation, and objections to claims filed against the estate; (h) prepare on behalf of the Debtor all motions, applications, answers, orders, reports, and pleadings necessary to the administration of the bankruptcy estate; (i) prepare any plan of reorganization, disclosure statement, and all related agreements and/or documents, and take actions to obtain confirmation of such plan and approval of such disclosure statement; (j) represent the Debtor in connection with any potential postpetition financing; (k) advise the Debtor regarding the sale or liquidation, if applicable, of any assets and property to third parties; (l) appear before the Court or any appellate court, and the Office of the Bankruptcy Administrator to protect the interests of the Debtor and the bankruptcy estate; (m) represent the Debtor with respect to any general, corporate, or transactional matters arising during the administration of the Bankruptcy Case; and (n) assist and advise the Debtor regarding negotiation, documentation, implementation, consummation, and closing of any corporate transactions, including sales of assets. The firm will be paid at these rates: Laurie B. Biggs (Attorney) $425 per hour Joseph A. Bledsoe, III (Attorney) $375 per hour Wendy Karam (N.C. Certified Paralegal) $200 per hour Susan Omell $185 per hour Christina Crews $185 per hour Qiara McCain (Paralegal) $150 per hour Lindsey Gadwell (Legal Assistant) $100 per hour The firm will be paid a retainer of $15,000. Biggs Law Firm, PLLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Laurie B. Biggs, Esq. BIGGS LAW FIRM, P.A. 9208 Falls of Neuse Road, Ste. 120 Raleigh, NC 27615 Telephone: (919) 375-8040 E-mail: lbiggs@biggslawnc.com About McGeachy Holdings LLC McGeachy Holdings, LLC is a North Carolina-based real estate company. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. N.C. Case No. 26-01995) on May 1, 2026. In the petition signed by Donovan McGeachy, president and chief operating officer, the Debtor disclosed up to $1 million in assets and up to $500,000 in liabilities. Judge Joseph N. Callaway oversees the case. Laurie B. Biggs, Esq., at Biggs Law Firm PLLC, represents the Debtor as legal counsel. MERCER INTERNATIONAL: Barclays PLC Holds 5.75% Equity Stake ----------------------------------------------------------- Barclays PLC disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of March 31, 2026, it beneficially owns 3,853,740 shares with 3,803,272 sole voting power, 50,468 shared voting power, 3,803,272 sole dispositive power, and 50,468 shared dispositive power of Mercer International Inc's Common Stock, representing 5.75% of the outstanding shares. Barclays PLC may be reached through: Ramya Rao, Director 1 Churchill Place Canary Wharf London X0 E14 5HP 00442031340952 A full-text copy of Barclays PLC's SEC report is available at: https://tinyurl.com/yc72vvkh About Mercer International Inc. Mercer International Inc. -- http://www.mercerint.com/-- is a global forest products Company with operations in Germany, the United States and Canada with consolidated annual production capacity of 2.1 million tonnes of pulp, 1,023 million board feet of lumber, 210,000 cubic meters of cross-laminated timber, 45,000 cubic meters of glulam, 17 million pallets and 230,000 metric tonnes of biofuels. As of March 31, 2026, the Company had $1,963,836,000 in total assets, $1,969,374,000 in total liabilities, and $109,625,000 in total stockholders' deficit. * * * S&P Global Ratings lowered its issuer credit rating on Mercer International Inc. to 'CCC+' from 'B-'. At the same time, S&P lowered its issue-level rating on the Company's unsecured debt to 'CCC+' from 'B-'. S&P's '4' recovery rating on the notes is unchanged. The negative outlook reflects S&P's expectation for Mercer to generate negative FOCF and significant debt maturity over the next couple of years that it believes increases the possibility of another downgrade. MERRICK WOODWORKING: Hires Wadsworth Garber as Bankruptcy Counsel ----------------------------------------------------------------- Merrick Woodworking Inc. seeks approval from the U.S. Bankruptcy Court for the District of Colombia to hire Wadsworth Garber Warner Conrardy, P.C. as bankruptcy counsel. The firm's services include: a. preparation on behalf of the Debtor all necessary reports, orders, and other legal papers required in this Chapter 11 proceeding; b. performance of all legal services for the Debtor as a debtor-in-possession which may become necessary herein; and c. representation of the Debtor in any litigation which the Debtor determines is in the best interest of the estate whether in state or federal court(s). The firm's counsel and staff will be paid at these hourly rates: David Wadsworth, Attorney $500 Aaron Garber, Attorney $500 David Warner, Attorney $425 Aaron Conrardy, Attorney $425 Hallie Cooper, Attorney $225 Paralegals $125 The firm received a retainer of $22,000 from the Debtor. Mr. Garber 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: Aaron A. Garber, Esq. Wadsworth Garber Warner Conrardy, PC 2580 West Main Street, Suite 200 Littleton, CO 80120 Telephone: (303) 296-1999 Facsimile: (303) 296-7600 Email: agarber@wgwc-law.com About Merrick Woodworking Inc. Merrick Woodworking Inc. provides woodworking services, including custom cabinetry, carpentry, millwork, trim, interior and exterior doors, and furniture. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case No. 26-13255) on May 8, 2026, with $264,683 in assets and $1,985,499 in liabilities. Kevin Merrick, president, signed the petition. Aaron A. Garber, Esq. at Wadsworth Garber Warner Conrardy, P.C. represents the Debtor as legal counsel. MIRROR LAKE: Seeks to Extend Plan Exclusivity to Aug. 14 -------------------------------------------------------- Mirror Lake Village LLC, asked the U.S. Bankruptcy Court for the Western District of Washington to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Aug. 14 and Oct. 14, 2026, respectively. The Debtor explains that cause exists to extend the its exclusivity periods. This case is still in its early stages, and the Debtor has been using the exclusivity period for its intended purpose: to stabilize the estate and assume necessary contracts, to evaluate restructuring alternatives and engage professionals and vendors, to engage with creditors and work collaboratively on cash collateral matters, and to work toward a confirmable plan. The Debtor claims that the requested extension (of less than two months) will not prejudice creditors or parties in interest, the extension requested is modest and will, if anything, reduce the administrative cost of competing plans and increase the likelihood of a consensual reorganization. These factors demonstrate that an extension of the exclusivity period will facilitate moving the case toward a fair and equitable solution. Mirror Lake Village LLC is represented by: Amit D. Ranade, Esq. Mallory L. B. Satre, Esq. Zachary A. Cooper, Esq. J. Seth Moore, Esq. Snell & Wilmer LLP 600 University Street, Suite 310 Seattle, WA 98101-3122 Tel: 206-741-1420 Email: aranade@swlaw.com msatre@swlaw.com zcooper@swlaw.com semoore@swlaw.com About Mirror Lake Village LLC Mirror Lake Village, LLC runs a senior living facility in Federal Way, Washington, offering independent living, assisted living, and memory care services, along with nearby vacant land. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wash. Case No. 26-10599-CMA) on February 27, 2026. In the petition signed by Philip Kaestle, designated officer, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Christopher M. Alston oversees the case. Amit D. Ranade, Esq., at Snell & Wilmer, represents the Debtor as legal counsel. MIYOSHI AMERICA: Plan Confirmation Hearing Scheduled for June 3 --------------------------------------------------------------- On April 27, 2026 (the "Petition Date"), Miyoshi America, Inc., as debtor and debtor in possession (the "Debtor"), commenced a case under chapter 11 of title 11 (the "Chapter 11 Case") of the United States Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the Southern District of Texas (the "Court"). On the Petition Date, the Debtor filed the Prepackaged Plan of Reorganization of Miyoshi America, Inc. Pursuant to Chapter 11 of the Bankruptcy Code (as it may be amended, supplemented, or modified from time to time, the "Plan"), and the Disclosure Statement for the Prepackaged Plan of Reorganization of Miyoshi America, Inc. Pursuant to Chapter 11 of the Bankruptcy Code, (as it may be amended, supplemented, or modified from time to time, the "Disclosure Statement") pursuant to sections 1125 and 1126(b) of the Bankruptcy Code. On April 28, 2026, the Court entered an order, among other things, scheduling the Combined Hearing and conditionally approving the Disclosure Statement as having adequate information under section 1125 of the Bankruptcy Code without prejudice to any party in interest objecting to the Disclosure Statement at the Combined Hearing and certain other dates and deadlines in connection therewith. Copies of the Plan and Disclosure Statement, as well as all other filings in this Chapter 11 Case, may be obtained free of charge by visiting the website maintained by the Claims Agent, Stretto, Inc., at https://cases.stretto.com/miyoshi. Information Regarding Combined Hearing and Accepting or Rejecting the Plan On March 13, 2026, the Debtor commenced solicitation of votes to accept the Plan from the Holders of record, as of March 27, 2026 (the "Voting Record Date"), of Claims in Class 4 (Talc Personal Injury Claims) and Class 5 (Prepetition Financing Facility Claims) (together, the "Voting Classes"). Only Holders of Claims in Class 4 and Class 5 were entitled to vote to accept or reject the Plan. All other Classes of Claims and Interests are either presumed to accept or deemed to reject the Plan and, therefore, were not entitled to vote. The deadline for the submission of votes to accept or reject the Plan was April 27, 2026 at 4:00 p.m. (prevailing Central Time). A combined hearing to consider the Disclosure Statement's compliance with the Bankruptcy Code's disclosure requirements, and any objections thereto, and to consider confirmation of the Plan and any objections thereto, will be held before the Honorable Christopher Lopez, United States Bankruptcy Judge, in Courtroom 402 of the United States Bankruptcy Court, 515 Rusk Street, Houston, Texas 77002, on June 3, 2026 at 10:00AM (prevailing Central Time) (prevailing Central Time) or as soon thereafter as counsel may be heard (the "Combined Hearing"). The Combined Hearing may be adjourned from time to time without further notice other than by filing a notice on the Court's docket indicating such adjournment and/or an announcement of the adjourned date or dates at the Combined Hearing. The adjourned date or dates will be available on the electronic case filing docket and the Claims Agent's website at https://cases.stretto.com/miyoshi. The deadline for filing objections to the adequacy of the Disclosure Statement or confirmation of the Plan was May 19, 2026 at 4:00 p.m. (prevailing Central Time) (the "Objection Deadline"). As shared by the Troubled Company Reporter, Miyoshi America, Inc., filed with the U.S. Bankruptcy Court for the Southern District of Texas a Disclosure Statement for the Prepackaged Plan of Reorganization dated April 27, 2026. The Debtor is a domestic company, incorporated in the state of Texas, that processes and sells specialized ingredients (such as pigments, composites, and substrates) to cosmetic manufacturers, who then use them to improve the look, feel, and durability of makeup and other beauty products. The Debtor is currently named as defendant in approximately 241 personal injury cases asserting claims based on allegations that the Debtor's talc-based products were contaminated with asbestos, resulting in the development of mesothelioma (or similar allegations). The first such case was filed against the Debtor in 2015. Additional similar cases were filed against the Debtor continuing in 2017 and 2018, but the number of cases was small, and the costs of defending against those cases were manageable. However, beginning in 2022, the pace of filings against the Debtor accelerated, with 5 cases filed in 2022, 35 cases filed in 2023, 34 cases filed in 2024, and 167 cases filed in 2025. There are currently more than 200 such cases pending against the Debtor. To the Debtor's knowledge, no employee of the Debtor has ever developed mesothelioma, and no such claims have ever been asserted against the Debtor. Prior to commencing the Chapter 11 Case, the Debtor has negotiated the terms of the Plan together with: (1) its parent, non-debtor Miyoshi Kasei Inc. ("MKI"); (2) an ad hoc committee of law firms representing individuals asserting certain talc-related claims against Miyoshi (the "Ad Hoc Committee"); and (3) Hon. Shelley C. Chapman (Ret.), as a representative on behalf of potential future holders of talc claims against Miyoshi (the "Prepetition Future Claimants' Representative" and together with MKI, the Ad Hoc Committee, and the Debtor, the "Plan Proponents"). The cornerstone of the Plan is the creation of the Talc Personal Injury Trust that will be primarily responsible for paying all Talc Personal Injury Claims according to specified trust procedures designed to streamline the resolution of claims and maximize assets available for all claimants. The Talc Personal Injury Trust will be managed by a trustee and overseen by a Talc Personal Injury Trust Advisory Committee consisting of representatives of holders of Talc Personal Injury Claims, which will ensure that all present and future claimants are treated fairly and equitably. The Talc Personal Injury Trust is to be funded with $20 million paid by the Debtor, including $19 million on the Effective Date of the Plan and $1 million paid pursuant to a promissory note within six months following the Effective Date of the Plan. Following months of settlement discussions between and among the parties, including the exchange of numerous incremental term sheet drafts and several in-person and virtual meetings, on January 30, 2026, the Ad Hoc Committee presented the Debtor with a proposed final Plan Support and Restructuring Term Sheet (the "Term Sheet"), executed by each member of the Ad Hoc Committee. Shortly thereafter, the Debtor, MKI, and the Prepetition Future Claimants' Representative agreed to, and countersigned, the Term Sheet. Class 3 consists of General Unsecured Claims. Except to the extent a Holder of an Allowed General Unsecured Claim agrees to different treatment of that General Unsecured Claim, each Holder of an Allowed General Unsecured Claim shall be Reinstated and paid in the ordinary course of business in accordance with the terms and conditions of the particular transaction or agreement giving rise to such General Unsecured Claim, or otherwise provided such treatment to render it Unimpaired, or as otherwise agreed to between the parties, in each case, without the need to file a proof of claim. Class 3 is Unimpaired by the Plan, and each Holder of a Class 3 General Unsecured Claim is conclusively presumed to have accepted the Plan pursuant to section 1126(f) of the Bankruptcy Code. Therefore, Holders of Class 3 General Unsecured Claims are not entitled to vote to accept or reject the Plan. Class 4 consists of Talc Personal Injury Claims. As of the Effective Date, liability for all Talc Personal Injury Claims shall automatically, and without further act, deed, or court order, be channeled solely and exclusively to and assumed by the Talc Personal Injury Trust in accordance with, and to the extent set forth in, Articles IV and VIII of the Plan, the applicable Plan Documents and the Confirmation Order. Each Talc Personal Injury Claim shall be resolved in accordance with the terms, provisions, and procedures of the Talc Personal Injury Trust Agreement and the Talc Personal Injury Trust Distribution Procedures. The Talc Personal Injury Trust shall be funded in accordance with the provisions of Article IV.B of the Plan. The sole recourse of the Holder of a Talc Personal Injury Claim on account of such Talc Personal Injury Claim shall be to the Talc Personal Injury Trust, and each such Holder shall have no right whatsoever at any time to assert its Talc Personal Injury Claim against any Protected Party. Class 4 is Impaired by the Plan. Class 7 consists of all Miyoshi Equity Interests. On the Effective Date, in accordance with Article IV.B.1 of the Plan, and subject to terms of the Miyoshi Promissory Note and Pledge and Security Agreement, MKI shall receive 100% of the Reorganized Debtor Stock on account of the MKI Contribution. On the Effective Date, the Talc Personal Injury Trust shall be established in accordance with the Plan Documents, the Talc Personal Injury Trust Documents, and sections 524(g) and 105(a) of the Bankruptcy Code, and it will be managed pursuant to the terms and conditions of the Talc Personal Injury Trust Documents. On the Effective Date, the Cooperation Agreement will become effective, and the Debtor's talc- and asbestos-related records will be treated in accordance therewith. On and after the Confirmation Date, the Debtor will be empowered and authorized to take or cause to be taken, prior to the Effective Date, all actions necessary to implement the provisions of the Plan, including, without limitation, the creation of the Talc Personal Injury Trust and the preparations for the transfer of the Talc Personal Injury Trust Assets to the Talc Personal Injury Trust. A full-text copy of the Disclosure Statement dated April 27, 2026 is available at https://urlcurt.com/u?l=Sr48TL from Stretto, claims agent. About Miyoshi America Inc. Miyoshi America Inc. is a U.S.-based supplier of advanced materials used in cosmetics and personal care products. The company specializes in engineered powders and treated pigments designed to improve product feel, durability, and visual performance. Miyoshi America Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90522) on April 27, 2026. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge Christopher M. Lopez handles the case. The Debtor tapped Charles Stephen Kelley, Esq., at Mayer Brown LLP as counsel and Stretto, Inc. as claims, noticing, and solicitation agent. MO-NA-C0-BIOMEDICAL CORP: Hires Santiago Quinones as Attorney ------------------------------------------------------------- Mo-Na-C0 Biomedical, Corp. seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to employ Santiago Quinones & Associates as attorney. The firm will provide these services: a. appearance at all hearings, including the arraignment scheduled on or about May 12, 2026; b. review and analysis all discovery materials produced by the Government; c. preparation and filing of pre-trial motions as appropriate; d. plea negotiations and/or trial representation; and e. any related post-conviction or appellate proceedings unless a separate agreement is executed. The firm will be paid at these rates: Peter A. Santiago Gonzalez, Esq. $300 per hour Associate $200 per hour Paralegal $75 per hour The firm will be paid a retainer in the amount of $5,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Santiago Gonzalez, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Peter A. Santiago Gonzalez Santiago Quinones & Associates Barrio Minilla, State Road 103, Km 38.7, Sabana Grande, PR 00637 About Mo-Na-C0 Biomedical, Corp. MO-NA-C0-BIOMEDICAL, CORP sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Puerto Rico Case No. 26-00578) on February 13, 2026. At the time of the filing, Debtor had estimated assets of between $0 and $50,000 and liabilities of between $0 and $50,000. Santiago & Gonzalez Law is the Debtor's legal counsel. MOSS CREEK: S&P Affirms 'B' Issuer Credit Rating, Outlook Stable ---------------------------------------------------------------- S&P Global Ratings lowered its issue-level ratings on Moss Creek Resources Holdings Inc.'s unsecured notes to 'B' from 'B+' and revised its recovery rating to '3' from '2'. The '3' recovery rating indicates S&P's expectation for meaningful (50%-70%; rounded estimate: 50%) recovery of principal in the event of a payment default. The stable outlook reflects S&P's expectation that Moss Creek will generate free cash flow while maintaining funds from operations (FFO) to debt of 70%-80% over the next two years, along with adequate liquidity. Based on S&P's updated commodity price assumptions, it expects the privately held U.S.-based exploration and production company, Moss Creek Resources Holdings Inc. to generate substantial free operating cash flow (FOCF), improving credit metrics. Moss Creek continues to generate significant FOCF and maintain solid credit measures. S&P said, "Based on our current commodity price assumptions, we project S&P Global Ratings-adjusted FFO to debt of 70%-80% and debt to EBITDA below 1.5x over the next two years. We project the company will generate FOCF of $200 million-$250 million this year and maintain adequate liquidity." As of Dec. 31, 2025, Moss Creek had about $590 million in cash, as well as an undrawn reserve-based lending (RBL) credit facility with a $1.4 billion borrowing base and $900 million elected commitments. The company has also hedged approximately 30% of its expected remaining 2026 production and about 15% of its anticipated 2027 production. S&P said, "We expect lower production this year. We anticipate Moss Creek will reduce capital spending by roughly 20% to about $420 million in 2026 relative to 2025, despite increasing activity relative to its original plan, highlighting the company's improved capital efficiency. Nevertheless, we forecast full-year 2026 production will average 56,000-58,000 barrels of oil equivalent per day (boe/d), down roughly 10% from approximately 64,400 boe/d in 2025, reflecting the carry-over impact of lower activity levels earlier in the year amid a weaker pricing environment. "However, we expect production to gradually improve as the year progresses, driven by the planned addition of a third rig by midyear and an increased completion program targeting 48-58 gross operating wells brought online (about 40% above the original plan). We believe this higher activity level will support stronger production heading into 2027." Moss Creek's international ownership constrains the credit profile. The company is 100% owned by Shandong Xinchao Energy Corp, a Chinese corporation listed on the Shanghai Stock Exchange. In May 2025, Inner Mongolia Yitai Coal Co. Ltd. acquired a 50.1% stake in Shandong. S&P said, "We view the ownership structure as a governance risk, as the interests of the parent and ultimate controlling shareholder may not always align with those of the company, particularly with respect to strategic direction and financial policy. In addition, the ownership structure indirectly exposes Moss Creek to Chinese regulatory requirements, including Shanghai Stock Exchange rules that could require upstream dividend payments if the parent company meets certain minimum profitability thresholds. While the parent does not expect to meet these requirements in 2026, in our view such provisions could, over time, constrain financial flexibility." Additionally, in October 2025, Yitai Coal filed a lawsuit against Shandong related to governance disputes. Although the matter was subsequently settled, Moss Creek had to replace three directors on its board and pay a dividend of about $65 million in 2025 as part of the resolution. As a result, S&P continues to assess the company's management and governance framework as negative. The company's ability to grow its footprint faces increasing constraints. In 2025, Texas enacted Senate Bill 17 (SB 17), which prohibits Chinese-owned companies from acquiring or leasing any real property in Texas for one year or more, including oil and gas rights. As a Chinese-owned entity, Moss Creek is directly subject to these restrictions and is currently pursuing a regulatory exemption that would permit it to resume acreage acquisitions in Texas. However, the outcome is uncertain. S&P said, "In our view, the company's inability to replenish or expand its drilling inventory within its core operating area could erode Moss Creek's reserve replacement capacity or compel it to pursue alternative options. This could include entry into areas outside of Texas, which would carry higher execution and operational risk. "The stable outlook reflects our expectations that Moss Creek will generate positive free cash flow while maintaining funds from operations (FFO) to debt of 70%-80% over the next two years. Additionally, it reflects our expectation that inorganic growth will likely be constrained by current legislature in Texas; however, we expect the company to pursue alternative strategies if it fails to obtain an exception. "We could lower our rating on Moss Creek if FFO to debt declines below 30% for a sustained period, or its liquidity deteriorates. This would most likely occur if commodity prices weaken and the company does not reduce its capital spending, or if its production underperforms our expectations. "We could raise our rating on Moss Creek if it increases its production and proved developed reserves to levels more in line with those of its higher-rated peers, while maintaining FFO to debt comfortably above 45% and adequate liquidity." MULTI-RACE HOUSING: Seeks to Hire Donald A. Gaudet as Insider ------------------------------------------------------------- Multi-Race Housing LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Louisiana to employ Donald A. Gaudet as insider. Mr. Gaudet will assist in obtaining tenants, deal with tenant issues and complaints, and manage the rental properties. Mr. Gaudet will be paid a retainer in the amount of $4,000 per month. Mr. Gaudet, 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. About Multi-Race Housing LLC Based in Franklinton, Louisiana, Multi-Race Housing LLC operates as a real estate holding company that owns 10 residential rental properties across various addresses. Its activities center on acquiring and managing single-family housing assets in the local market, with occasional property sales reflecting ongoing portfolio adjustments. Multi-Race Housing LLC in Franklinton, LA, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. E.D. La. Case No. 26-10583) on March 16, 2026, listing as much as $1 million to $10 million in both assets and liabilities. Donald Gaudet as managing member and sole owner, signed the petition. Judge Meredith S Grabill oversees the case. THE DE LEO FIRM, LLC serve as the Debtor's legal counsel. NANO PHARMACEUTICAL: Jonathan Dickey Named Subchapter V Trustee --------------------------------------------------------------- The Acting U.S. Trustee for Region 19 appointed Jonathan Dickey as Subchapter V trustee for Nano Pharmaceutical Laboratories, LLC. Mr. Dickey 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. Dickey declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Jonathan M. Dickey, Esq. 1660 Lincoln Street, Suite 1720 Denver, CO 80264 303-832-2400 Email: jmd@kutnerlaw.com About Nano Pharmaceutical Laboratories LLC Nano Pharmaceutical Laboratories, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case No. 26-13415) on May 14, 2026, with $50,001 to $100,000 in assets and $1 million to $10 million in liabilities. Judge Michael E. Romero presides over the case. Aaron A. Garber, Esq., at Wadsworth Garber Warner Conrardy, P.C. represents the Debtor as legal counsel. NATIONAL ROAD: Seeks to Hire Lake Forest as Reorganization Counsel ------------------------------------------------------------------ National Road Logistics, LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire Lake Forest Bankruptcy II, APC as reorganization counsel. The firm will provide these services: a. represent the Debtor as a Debtor in Possession; b. advise the Debtor regarding the requirements of the Bankruptcy Code, the Bankruptcy Rules, the Bankruptcy rules, and the requirements of the Office of the United States Trustee pertaining to the administration of the estate and the use thereof; c. advise and represent the Debtor concerning its rights and remedies regarding the assets of the estate; d. prepare necessary legal papers in connection with the administration of the estate; e. protect and preserve the estate by prosecuting and defending actions commenced by or against the Debtor; f. analyze and prepare necessary objections to proofs of claim filed against the estate; g. represent the Debtor in proceedings or hearings in this court; h. negotiate, formulate and draft any plans of reorganization and disclosure statements; i. advise and represent the Debtor in connection with its investigates of potential causes of action against persons or entities, including, but not limited to, avoidance actions, and the litigation thereof, if warranted; and j. render such other advice and services as the Debtor may require in connection with the case. The firm will be paid as follows: Anerio V. Altman, Esq. $500 Of Counsel $400 The firm received from the Debtor a retainer of $45,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Anerio V. Altman, Esq., a partner at Lake Forest Bankruptcy II, APC, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Anerio Ventura Altman, Esq. Lake Forest Bankruptcy P.O. Box 515381 26632 Towne Centre Drive #300 Foothill Ranch, CA 92610 Tel: (949) 218-2002 Email: avaesq@lakeforestbkoffice.com About National Road Logistics, LLC National Road Logistics, LLC operates as a transportation and logistics company. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 2:26-bk-13324) on April 6, 2026. In the petition signed by Paul Dukesherer, president, the Debtor disclosed up to $10 million in assets and up to $50 million in liabilities. Anerio Ventura Altman, Esq., at Lake Forest Bankruptcy, represents the Debtor as legal counsel. NELLIS CAB: Plan Exclusivity Period Extended to Aug. 4 ------------------------------------------------------ Judge August B. Landis of the U.S. Bankruptcy Court for the District of Nevada extended Nellis Cab, LLC and Sun Cab, Inc.'s exclusive periods to file a plan of reorganization and obtain acceptance thereof to Aug. 4 and Oct. 5, 2026, respectively. As shared by Troubled Company Reporter, the Debtors explain that the moment the Chapter 11 Cases were filed, their professionals and management had to work as diligently, efficiently, and expeditiously as possible to address both operational aspects of Debtors' businesses and Chapter 11 Case administration matters at the same time. Having to attend to matters of such global significance in the context of already contentious cases as the Chapter 11 Cases only added to their complexity and the already pressing demands placed upon Debtors, their management team, and professionals. Similarly, all the litigation efforts surrounding the settlement of the Trustee Motions only served to draw the collective attention of Debtors' management and professionals to focus on defending the Trustee Motions during the initial Exclusive Periods. The Debtors claim that as the Court may have already assessed by this point, their emergency filings, as well as the need to address pressing operational and administrative issues at the outset of the Chapter 11 Cases, have not provided Debtors with much of a breathing spell within which Debtors could engage in meaningful and well-informed negotiations with its key creditor constituencies, as well as other parties in interest, in connection with its efforts to formulate and propose a Chapter 11 plan of reorganization. The Debtors assert that they are not seeking the relief requested here to unduly pressure their creditors into acquiescing unduly in Debtors' reorganization demands. That is hardly the case. Debtors' request here is aimed at allowing Debtors sufficient time to formulate what Debtors believe to be a viable Chapter 11 plan of reorganization that seeks to maximize the value of Debtors' bankruptcy estates for the benefit of Debtors' creditors and other parties in interest. Counsel to the Debtors: Samuel A. Schwartz, Esq. Athanasios E. Agelakopoulos, Esq. Schwartz, PLLC 601 East Bridger Avenue Las Vegas, NV 89101 About Nellis Cab LLC Nellis Cab LLC provides taxi transportation services in Las Vegas, Nevada, and has been operating in the region for more than 60 years. Nellis Cab LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Nev. Case No. 25-17375) on Dec. 5, 2025, listing $1 million to $10 million in assets and $100,000 to $500,000 in liabilities. The petition was signed by Michelle Langille as manager. Judge August B Landis presides over the case. Samuel A. Schwartz, at SCHWARTZ LAW, PLLC, is the Debtor's counsel. NIED OWNERSHIP: Hires Berger Singerman as Bankruptcy Counsel ------------------------------------------------------------ Nied Ownership LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to hire Berger Singerman LLP as counsel. The firm will render these services: a. give advice to the Debtor with respect to its powers and duties as debtor-in-possession and the continued management of its business operations; b. advise the Debtor with respect to its responsibilities in complying with the United States Trustee's Operating Guidelines and Reporting Requirements and with the rules of the Court; c. prepare motions, pleadings, draft orders, applications, adversary proceedings, and other legal documents necessary for the efficient administration of this case; d. protect the interests of the Debtor in all matters pending before the Court; and e. represent the Debtor in negotiations with its creditors and in the preparation of a plan. Amy Denton Mayer, Esq., an attorney at Berger Singerman, 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: Amy Denton Mayer, Esq. Berger Singerman LLP 101 E. Kennedy Blvd., Suite 1165 Tampa, FL 33602 Phone: 813-498-3410 About Nied Ownership LLC Nied Ownership LLC is a holding company involved in large-scale ownership and management of investment and business assets. The company oversees operational and financial interests tied to its portfolio holdings and related ventures. Nied Ownership LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-03232) on May 1, 2026. In its petition, the Debtor reports estimated assets between $500 million and $1 billion and estimated liabilities between $100 million and $500 million. Honorable Bankruptcy Judge Tiffany P. Geyer handles the case. The Debtor is represented by Amy Denton Mayer, Esq. of Berger Singerman LLP. NORTHANN CORP: First-Quarter Net Loss Widens to $2.9 Million ------------------------------------------------------------ Northann Corp. reported a net loss of $2.90 million for the quarter ended March 31, 2026, compared with a net loss of $2.63 million a year earlier, according to a Form 10-Q filing with the Securities and Exchange Commission. Revenue rose to $4.96 million from $3.44 million, while cost of revenue increased to $5.46 million from $3.05 million. The company reported a gross loss of $494,653, compared with gross profit of $390,658 a year earlier. Operating expenses fell to $2.36 million from $2.97 million. Loss from operations widened to $2.85 million from $2.57 million, and interest expense declined to $43,935 from $56,056. As of March 31, 2026, Northann reported total assets of $30.79 million, total liabilities of $12.34 million and total stockholders' equity of $18.45 million. Cash and cash equivalents were $239,641, and working capital was $4.22 million. The company said it has financed operations through a combination of operating cash flow, borrowings from stockholders and related and unrelated parties, and IPO proceeds. Northann also said a subsidiary had drawn $1.65 million under a $24 million EB-5 loan facility, leaving $22.35 million of undrawn capacity, and that current cash and cash flows from operations would be sufficient for at least the next 12 months. A full-text copy of the Form 10-Q is available for free at: https://www.sec.gov/Archives/edgar/data/1923780/000157587226000345/ncl122_10q.htm About Northann Corp Northann Corp. is a building-materials and home-improvement products company that sells products including hardwood floors and three-dimensional printed flooring. Headquartered in Fort Lawn, South Carolina, the company maintains a patent portfolio supporting its 3D-printing flooring technology and recognizes product revenue when customers obtain control of goods. In an April 26, 2026, audit report, Lao Professionals included a going concern paragraph saying the company had an accumulated deficit of $21.37 million and a net loss of $11.67 million, conditions that raised substantial doubt about its ability to continue as a going concern. O NEW YORK: Seeks Chapter 7 Bankruptcy in New York -------------------------------------------------- On May 19, 2026, O New York Corporation filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the debtor reports between $100,001 and $1 million in liabilities owed to between 1 and 49 creditors. About O New York Corporation O New York Corporation is a real estate company. O New York Corporation sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-72024) on May 19, 2026. In its petition, the debtor reported estimated assets ranging from $0 to $100,000 and estimated liabilities between $100,001 and $1 million. Honorable Bankruptcy Judge Sheryl P. Giugliano handles the case. The debtor’s legal representation was not listed in the filing. OCUGEN INC: Closes $130M Convertible Notes Offering --------------------------------------------------- Ocugen, Inc. announced the closing of $130 million aggregate principal amount of 6.75% Convertible Senior Notes due 2034 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, including the full exercise by the initial purchaser of its option to purchase an additional $15.0 million aggregate principal amount of the notes. The sale of the notes is expected to result in approximately $112.6 million in net proceeds to Ocugen after deducting the initial purchaser's discount and estimated offering expenses payable by Ocugen. The offering price of the notes was 90% of the principal amount of the notes. Ocugen used approximately $32.7 million of the net proceeds from the offering to fully repay the outstanding principal amount of, plus accrued and unpaid interest on, the loan outstanding under its Loan and Security Agreement with affiliates of Avenue Capital Group, and pay the related prepayment fee and other fees and expenses in connection therewith. Ocugen expects to use the remaining net proceeds from the offering for general corporate purposes. Additional Notes On May 14, 2026, the Company issued an additional $15.0 million aggregate principal amount of notes pursuant to the exercise in full of the over-allotment option granted by the Company to the initial purchaser in the offering. The additional notes were issued under the Indenture and may not be converted prior to the earlier of: (i) May 15, 2027 and (ii) the "reserved share effective date". Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of the Company's common stock, par value $0.01 per share, or a combination of cash and shares of common stock, at the Company's election, in the manner and subject to the terms and conditions provided in the Indenture, and, in the case of shares of common stock, subject to certain limitations; provided that unless and until the reserved share effective date occurs, the Company will settle conversion of notes solely with cash. CEO Comment "This financing milestone reflects the strong momentum we have built across our late-stage pipeline and our unwavering commitment to the patients we serve," said Dr. Shankar Musunuri, Chairman, Chief Executive Officer, and Co-founder of Ocugen. "With our anticipated cash runway extended into 2028, we are well-positioned to advance three late-stage programs and execute toward our goal of filing three BLAs by 2028, bringing potentially transformative therapies to patients who have long awaited meaningful treatment options." Additional Information Full text copies of the Indenture and the form of note are available at https://tinyurl.com/yc2e8dd4 and https://tinyurl.com/yc2e8dd4, respectively. About Ocugen Inc. Malvern, Pa.-based Ocugen, Inc. is a biotechnology Company focused on discovering, developing, and commercializing novel gene and cell therapies, biologics, and vaccines that improve health and offer hope for patients across the globe. The Company's technology pipeline includes: Modifier Gene Therapy Platform, Novel Biologic Therapy for Retinal Diseases, Regenerative Medicine Cell Therapy Platform, and Inhaled Mucosal Vaccine Platform. PricewaterhouseCoopers LLP (the Company's independent registered public accounting firm since 2024 and headquartered in Philadelphia, Pennsylvania) included an explanatory paragraph in its audit report attached to the Annual Report on Form 10-K for the fiscal year ended December 31, 2025, expressing substantial doubt about the Company's ability to continue as a going concern. The auditor cited that the Company has incurred recurring net losses since inception that raise the doubt of its ability to continue as a going concern. As of December 31, 2025, the Company had $43.5 million in total assets, $55.7 million in total liabilities, and $12.2 million in total stockholders' deficit. OCUGEN INC: Names Mohamed Genead as Interim Chief Medical Officer ----------------------------------------------------------------- Ocugen, Inc. announced in a regulatory filing that Huma Qamar, M.D., MPH, CMI, separated from the Company as its Chief Medical Officer effective May 8, 2026. Also effective May 8th, the Company appointed Mohamed Genead, M.D., M.Sc., as Acting/Interim Chief Medical Officer. About Ocugen Inc. Malvern, Pa.-based Ocugen, Inc. is a biotechnology Company focused on discovering, developing, and commercializing novel gene and cell therapies, biologics, and vaccines that improve health and offer hope for patients across the globe. The Company's technology pipeline includes: Modifier Gene Therapy Platform, Novel Biologic Therapy for Retinal Diseases, Regenerative Medicine Cell Therapy Platform, and Inhaled Mucosal Vaccine Platform. PricewaterhouseCoopers LLP (the Company's independent registered public accounting firm since 2024 and headquartered in Philadelphia, Pennsylvania) included an explanatory paragraph in its audit report attached to the Annual Report on Form 10-K for the fiscal year ended December 31, 2025, expressing substantial doubt about the Company's ability to continue as a going concern. The auditor cited that the Company has incurred recurring net losses since inception that raise the doubt of its ability to continue as a going concern. As of December 31, 2025, the Company had $43.5 million in total assets, $55.7 million in total liabilities, and $12.2 million in total stockholders' deficit. ODYSSEY LOGISTICS: S&P Cuts ICR to 'CCC+' on Approaching Maturities ------------------------------------------------------------------- S&P Global Ratings lowered its issuer credit rating on Odyssey Logistics and Technology Corp. and its issue-level rating on the company's senior secured first-lien debt to 'CCC+' from 'B-'. The negative outlook reflects the potential for another downgrade if Odyssey can't refinance its upcoming maturities before they become current or if its liquidity deteriorates further. S&P Global Ratings believes Odyssey Logistics and Technology Corp. will face refinancing risk related to its upcoming 2027 debt maturities. This stems from S&P's view that lingering weakness in freight demand will continue to weigh on the company's earnings and cash flow. S&P said, "To fund the forecasted free operating cash flow (FOCF) shortfalls, we expect Odyssey to draw on its revolving credit facility further, weakening liquidity and heightening the risk of a default. "We believe ongoing earnings weakness will impair Odyssey's ability to refinance upcoming debt maturities. The company's $125 million revolving credit facility ($9 million drawn as of Dec. 31, 2025) matures in July 2027, followed by an approximately $490 million term loan in October 2027. Multiple years of soft freight demand, depressed trucking rates, and rising costs have contributed to reported operating losses over the past two years, which we expect will continue in 2026 and 2027. The company's reported free cash flows have been negative since 2023 (negative $17 million in 2025)--a trend we expect to persist through 2026. As a result, we believe it's unlikely Odyssey will be able to access capital markets at favorable terms. This poses a risk to the sustainability of its capital structure and heightens the possibility of a debt restructuring. "We expect persistent FOCF shortfalls to constrain Odyssey's liquidity. We forecast free cash flow deficits will continue over the near term and that the company will keep drawing on its revolving credit facility to support operations.Despite its $125 million revolving credit facility being minimally utilized at $9 million, availability under this facility is constrained by a first-lien net leverage covenant of 6.25x, which is triggered if utilization exceeds 35% (approximately $43.7 million). Our assessment indicates that Odyssey will be limited to the $43.7 million given its first-lien net leverage covenant was 6.7x as of Dec. 31, 2025. We project revolver utilization to rise to $31 million by Dec. 31, 2026, and close to $42 million by mid-2027, eventually exhausting all available liquidity and making a default increasingly likely. Financial performance in areas of operational strengths remain subdued from challenging sector dynamics. Odyssey's S&P Global Ratings adjusted EBITDA, which had peaked at about $170 million in 2022, has nearly halved to about $95 million in 2025. The decline stemmed from lower volumes and sharp declines in freight rates. The company operates in specialized end markets (metals, chemicals, packaged freight, etc.) and has relatively little exposure to retail and e-commerce. It serves customers with complex regulatory and safety requirements, which S&P believes differentiates it from other logistics providers. Moreover, its Integrated marine logistics business is protected under the Jones Act and offers a competitive advantage in serving Alaska and Hawaii, while its intermodal segment offers unique capabilities such as transporting metals without exposing them to the open air. S&P said, "However, amid prevailing geopolitical tensions and moderated economic growth expectations, we expect subdued freight demand will continue constraining pricing power and restrict any meaningful improvement in Odyssey's profitability in 2026. Therefore, we estimate its 2026 adjusted EBITDA will improve only 6%-10% year over year, which isn't sufficient to fully offset its interest costs and capital-spending needs. Despite these headwinds, we believe Odyssey could increase earnings once market conditions improve. Accordingly, we believe that a freight cycle turnaround could support Odyssey with opportunities to expand profitability and generate breakeven free cash flows in 2028." The negative outlook reflects the potential for another downgrade if Odyssey can't refinance its upcoming maturities before they become current or if its liquidity deteriorates further. S&P could lower the ratings again if a near-term default scenario--such as a liquidity shortfall or a distressed debt exchange--becomes imminent in the next 12 months. This could occur if: -- The company's profitability and cash flows don't improve due to continuing weak freight market conditions that cause it to draw further on its revolver, constraining liquidity; or -- Its debt facilities become current and the company faces significant challenges in refinancing. S&P could take a positive action, including revising the outlook to stable, over the next 12 months if: -- The company is able to successfully refinance its debt facilities, pushing out maturities such that refinancing risk is mitigated; and -- Improved financial performance leads to FOCF turning modestly positive such that S&P no longer expects Odyssey to face near-term liquidity constraints. ORBIT ENERGY: Sets Aug. 31, 2026 Administrative Claims Bar Date --------------------------------------------------------------- On December 6, 2022 (the "Petition Date"), Orbit Energy & Power, LLC ("Orbit") filed a voluntary petition for relief under Chapter 11 of Title 11 of the United States Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the District of New Jersey (the "Bankruptcy Court" ) and that on February 27, 2023 the Orbit Chapter 11 case was converted to the instant Chapter 7 proceeding. Information regarding Orbit may be obtained at the United States Bankruptcy Court for the District of New Jersey's Website at njb.uscourts.gov. The Bankruptcy Court has established August 31, 2026 at 11:59 p.m. (prevailing Eastern time) as the deadline to file Administrative Claims against Orbit (the "Bar Date"). If you have a Chapter 11 Administrative Claim against Orbit you must file a Request for Payment of Administrative Expense form against Orbit on or before the Bar Date. Please visit United States Bankruptcy Court for the District of New Jersey's Website (https://www.njb.uscourts.gov) for more information on how to file your Administrative Claim. IF YOU DO NOT TIMELY FILE AN ADMINISTRATIVE CLAIM, YOU WILL FORFEIT YOUR RIGHT TO SHARE IN ANY DISTRIBUTIONS TO CHAPTER 11 ADMINISTRATIVE CREDITORS IN CONNECTION WITH ORBIT'S CHAPTER 7 CASE. About Orbit Energy & Power, LLC Orbit Energy & Power, LLC is a renewable energy company. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 22-19628) on Dec. 6, 2022. In the petition signed by Sean Angelini, managing member, the Debtor disclosed up to $10 million in assets and up to $50 million in liabilities. Judge Andrew B. Altenburg, Jr., oversees the case. Albert A. Ciardi III, Esq., at Ciardi Ciardi & Astin, represents the Debtor as counsel. ORIGINCLEAR INC: Outlines Path Forward Following CEO's Passing -------------------------------------------------------------- OriginClear, Inc. announced that its Board of Directors has issued a shareholder release regarding the recent death of Riggs Eckelberry, the Company's Chief Executive Officer and Chairman of the Board of Directors, and the Company's plan moving forward. OriginClear Board of Directors said: "Dear Valued Shareholders, Partners, and Friends, as you are aware, we are deeply saddened by the recent loss of our leader and visionary, Riggs Eckelberry. His passing was a tragedy, and we extend our deepest condolences to his wife and family. Riggs was a brilliant, passionate, and inspirational leader whose presence within OriginClear will be greatly missed. Cory Mertes, the Company's Chief Financial Officer and member of the Board of Directors, will serve as interim Chief Executive Officer. "Considering Riggs's passing and the current position of the Company, the Company's Board of Directors has deemed it advisable to take a series of actions designed to address current obligations, protect shareholders, and preserve value. These actions include a consolidation of the Company's equity capitalization, a conversion of debt and preferred equity, liquidation of certain assets, and positioning the Company for investment or acquisition, as a seasoned public entity. "As part of these efforts, we are working with the Company's counsel to transition OriginClear shareholders into a more direct ownership position in Water on Demand, Inc., a revenue-generating operating company affiliated with OriginClear. This transition is intended to provide shareholders with additional opportunities to participate in the future of Water on Demand. We "anticipate a series of shareholder communications over the coming weeks with further details. Thank you for your patience and continued trust in the OriginClear team and vision." About OriginClear OriginClear, Inc. founded in 2007 as OriginOil and rebranded in 2015, operates as the Clean Water Innovation Hub, focusing on incubating and launching businesses in the industrial water sector. The Company's subsidiary, Water On Demand, Inc., includes three operating units: Progressive Water Treatment, which provides engineered water treatment solutions and generates the majority of revenue; Modular Water Systems, which holds an exclusive master license with three active patents valued between $26.6 million and $53.2 million as of April 2023; and Water on Demand, a development-stage unit aiming to offer water treatment as a pay-per-gallon service under a Design-Build-Own-Operate model. The Company leverages its intellectual property and proprietary practices to differentiate its offerings in the global water industry. The Woodlands, Texas-based M&K CPAS, PLLC, the Company's auditor since 2019, issued a "going concern" qualification in its report dated April 10, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company suffered a net loss from operations and used cash in operations, which raises substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had $5,746,408 in total assets, $26,711,626 million in total liabilities, $7,417,720 in mezzanine equity, preferred stock and $28,382,938 million in total stockholders' deficit. OSCAR ACQUISITIONCO: S&P Downgrades ICR to 'SD' on Debt Repurchase ------------------------------------------------------------------ S&P Global Ratings lowered its issuer credit rating on U.S.-based glass, glazing products, and related hardware provider Oscar AcquisitionCo LLC to 'SD' from 'CCC' and the issue-level rating on its senior unsecured notes to 'D' (default) from 'CC'. S&P's 'CCC' rating on Oscar's secured term loan is unchanged. We expect to review our issuer and issue level credit ratings over the coming business days. A portion of Oscar AcquisitionCo LLC's senior unsecured notes due in 2030 were purchased by an affiliate fund of KPS Capital Partners at a substantial discount to par. S&P views this as a selective default per our criteria, because lenders received less than the full value originally promised. S&P said, "We view the debt purchase as distressed and tantamount to a default. An affiliate fund of financial sponsor owner KPS Capital Partners purchased roughly 93% of Oscar AcquisitionCo's $585 million senior unsecured notes. We view the affiliate fund of KPS Capital Partners and KPS Capital Partners as related parties to Oscar AcquisitionCo LLC, which is owned by KPS Capital Partners. We view the purchase as distressed because noteholders received materially less value than originally promised, in the context of the company's high leverage and low creditworthiness reflected in the previous 'CCC' rating. As of May 12th, 2026, OBE is current on all of its debt payments and remains in compliance with all covenants under its debt documents. "We plan to reassess our rating on the company and issue-level ratings on its senior unsecured notes over the coming business days." PACIFIC RIM: Hire Premiere Property Group LLC as Exclusive Agent ---------------------------------------------------------------- Pacific Rim Winemakers, Inc and its affiliates seek approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Premiere Property Group LLC as exclusive agent. The firm will market and offer G-4 Oregon's real property, containing a vineyard and a winery known as "Rainstorm Winery" located at 2200 N. Pacific Highway, Rickreall, Oregon. The firm will be paid at a brokerage fee of 3.5 percent. Mr. Tackett, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Matt Tacket Premiere Property Group LLC 700 Deborah Rd., Suite 200 Newberg, Oregon 97132 Tel: (971) 832-8106 About Pacific Rim Winemakers, Inc. Pacific Rim Winemakers, Inc. doing business as Pacific Rim & Company, is a West Richland, Washington-based wine producer that makes Riesling-focused wines ranging from dry to dessert styles. A member of Banfi Vintners' U.S. portfolio, the company produces labels including Pacific Rim Dry Riesling, Rainstorm, Silver Raven, and Thick Skinned from grapes sourced in the Columbia and Yakima valleys. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.Y. Case No. 26-71230) on March 30, 2026. In the petition signed by Cristina Mariani-May, vice president, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Sheryl P. Giugliano oversees the case. Alex Spizz, Esq., at TARTER KRINSKY & DROGIN LLP, represents the Debtor as legal counsel. PATRIOT DSP: Seeks to Hire Pinecrest Consulting as Accountant ------------------------------------------------------------- Patriot DSP LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Pinecrest Consulting as accountant. The firm will perform various bookkeeping and tax services. The firm will be paid a total of $6,600 annually. The service provider will invoice the customer for $550 at the beginning of each month. Eli Tabaria, a president at Pinecrest Consulting, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Eli Tabaria Pinecrest Consulting 18111 Preston Road Suite 610 Dallas, TX 75252 Tel: (469) 356-5169 About Patriot DSP LLC Patriot DSP LLC is an Amazon delivery service and electrical contractor business. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-41165-mxm11) on March 16, 2026. In the petition signed by Blake Vaughn, owner, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Judge Mark X. Mullin oversees the case. Robert C Lane, Esq., at The Lane Law Firm, represents the Debtor as legal counsel. PAVMED INC: First Manhattan Co. Holds 9.6% Equity Stake ------------------------------------------------------- First Manhattan Co. LLC, FMC Group Holdings LP, and First Manhattan Management LLC disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of March 31, 2026, they each beneficially own 639,191 shares with 638,720 sole voting power, 471 shared voting power, 638,720 sole dispositive power, and 471 shared dispositive power of PAVmed Inc.'s Common Stock, Par Value $0.001 Per Share, each representing 9.6% of the outstanding shares. First Manhattan Co. LLC may be reached through: Jeremy Covino, Chief Compliance Officer FIRST MANHATTAN CO. LLC. 399 Park Avenue 28th Floor New York, NY 10022 Tel: 2127563300 A full-text copy of First Manhattan Co. LLC's SEC report is available at: https://tinyurl.com/394d64xv About PAVmed PAVmed operates through multiple subsidiaries, including Lucid Diagnostics, which markets the EsoGuard test and EsoCheck device, and Veris Health, which focuses on digital tools for personalized cancer care. The Company is also advancing its PortIO implantable vascular access device and developing endoscopic imaging technology licensed from Duke University. CBIZ CPAs P.C., in its March 27, 2026 audit report, issued a going-concern qualification, citing a significant working capital deficit, recurring losses and the need to raise additional funds. These conditions, the report notes, raise substantial doubt about the Company's ability to continue operating. As of March 31, 2026, the Company had $45.4 million in total assets, $20.4 million in total liabilities, and $25 million in total stockholders' equity. PERASO INC: Increases ATM Offering Capacity to $670,000 ------------------------------------------------------- Peraso Inc. filed a prospectus supplement to increase the maximum number of shares of the Company's common stock, par value $0.001 per share, issuable pursuant to the At the Market Offering Agreement between the Company and Ladenburg Thalmann & Co. Inc., dated August 30, 2024, to up to an aggregate of $670,000 of Shares, which does not include the Shares having an aggregate gross sales price of approximately $9,370,130 that have been sold to date under the Sales Agreement. The issuance and sale of the Shares by the Company under the Sales Agreement will be made pursuant to the Company's registration statement on Form S-3 (File No. 333-280798) filed with the Securities and Exchange Commission on July 12, 2024 and declared effective on July 22, 2024 and a base prospectus dated as of July 22, 2024 included in the Registration Statement, as supplemented by the prospectus supplements dated as of August 30, 2024, December 10, 2024, October 10, 2025, November 21, 2025, April 10, 2026 and the Current Prospectus Supplement. A full text copy of the prospectus supplement is available at https://tinyurl.com/5n7jrxbk and an opinion of Mitchell Silberberg & Knupp LLP, relating to the legality of the issuance and sale of the Shares is available at https://tinyurl.com/35c3fa6j. About Peraso Inc. Headquartered in San Jose, California, Peraso Inc. -- https://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. Los Angeles, California-based Weinberg & Company, the Company's auditor since 2020, issued a "going concern" qualification in its report dated March 30, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that during the year ended December 31, 2025, the Company incurred a net loss and used cash in operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had $6.1 million in total assets and $1.4 million in total liabilities, and total stockholders' equity of $4.6 million. PHARMA-NATURAL: Case Summary & 13 Unsecured Creditors ----------------------------------------------------- Debtor: Pharma-Natural Inc. 14500 NW 60 Ave Building 7 F Hialeah, FL 33014 Business Description: Pharma Natural is a Miami Lakes, Florida- based manufacturer of nutraceutical and over-the-counter body- management products. Founded in 2002, the company produces Pharma Natural-branded products and provides private-label and white-label manufacturing programs. Its operations include product manufacturing, packaging, quality control and testing, formulation assessment, raw-material sourcing, warehousing, and shipping logistics for dietary supplement and nutrition-related products. Chapter 11 Petition Date: May 20, 2026 Court: United States Bankruptcy Court Southern District of Florida Case No.: 26-16578 Judge: Hon. Corali Lopez-Castro Debtor's Counsel: Joel Aresty, Esq. JOEL M. ARESTY PA 309 1st Ave. S. Tierra Verde, FL 33715 Tel: (305) 904-1903 Email: aresty@icloud.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Carolina Ferreiro as president. A full-text copy of the petition, which includes a list of the Debtor's 13 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/CGZJ43I/PHARMA-NATURAL_INC__flsbke-26-16578__0001.0.pdf?mcid=tGE4TAMA PKG INC: Seeks to Hire Goe Forsythe & Hodges as Bankruptcy Counsel ------------------------------------------------------------------ PKG, Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire Goe Forsythe & Hodges LLP, as general bankruptcy counsel. The firm will provide these services: (a) advise and assist the Debtor with respect to compliance with the requirements of the United States Trustee; (b) advise the Debtor regarding matters of bankruptcy law, including the rights and remedies of the Debtor with respect to its assets and creditor claims; (c) advise the Debtor regarding assumption and rejection of executory contracts and leases; (d) represent the Debtor in any proceedings or hearings in the Bankruptcy Court or the State Court where the Debtor's rights under State Law or the Bankruptcy Code may be litigated or affected; (e) represent the Debtor in bankruptcy proceedings or hearings where its rights may be litigated or affected; (f) conduct examinations of witnesses, claimants, or adverse parties, and assist in the preparation of reports, accounts, and pleadings; (g) advise the Debtor concerning the requirements of the Bankruptcy Court and applicable rules; (h) assist the Debtor in the negotiation, formulation, confirmation, and implementation of a Chapter 11 plan of reorganization; (i) make appearances in bankruptcy court on behalf of the Debtor; and (j) take such other actions and perform such other services as required in connection with this Chapter 11 case. The firm will be paid at these rates: Attorneys $350 to $725 per hour Of Counsel $450 to $750 per hour Paralegals $200 to $275 per hour The Debtor paid the firm a pre-petition retainer of $16,738. Goe Forsythe & Hodges LLP is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Marc C. Forsythe, 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 PKG, Inc. PKG, Inc. is a corporate entity engaged in commercial operations, potentially including packaging, logistics, or related business services. PKG, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-13503) on April 11, 2026. In its petition, the Debtor reports estimated assets of $100,001â€“$1,000,000 and estimated liabilities of $1 million to $10 million. Honorable Bankruptcy Judge Vincent P. Zurzolo handles the case. The Debtor is represented by Marc C. Forsythe, Esq. of Goe Forsythe & Hodges LLP. POLAR POWER: Enters Into $2.5M Credit Agreement With Stone Brothers ------------------------------------------------------------------- Polar Power, Inc. announced in a regulatory filing that it entered into a Revolving Loan Agreement with Stone Brothers Capital. The Loan Agreement provides for a revolving credit facility under which the Lender may, in its sole discretion upon the request of the Company, make loans to the Company, in an aggregate principal amount at any one time outstanding not to exceed $2,500,000. Each Loan shall bear interest accruing at an annual rate of 12%. Pursuant to the Loan Agreement, the Company shall use the proceeds from the Loans for general corporate purposes, including but not limited to (for the avoidance of doubt) to finance the expense of a Qualified Public Equity Offering, which is a Public Equity Offering, as defined by the Loan Agreement, for proceeds up to $6,000,000. The maturity date of the loan is the first anniversary of the closing date of the Loan Agreement. As part of the closing conditions, two directors of the Company shall resign from the Company's board of directors prior to the closing, and three individuals designed by the Lender should be appointed as the directors of the Company. As a result, on May 14, 2026, Keith Albrecht and Katherine Koster, two of the Company's independent directors, resigned as members of the Board of the Company, effective on the 19th of May. The Loan Agreement also contains other customary terms and conditions. A full text copy of the Loan Agreement is available at https://tinyurl.com/2cp8k8yr 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. Los Angeles, California-based Weinberg & Company, P.A., the Company's auditor since 2016, issued a "going concern" qualification in its report dated April 15, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that 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 December 31, 2025, the Company had $10,437,000 in total assets, $10,293,000 in total liabilities, and $144,000 million in total stockholders' equity. PRECIPIO INC: Q1 Loss Widens to $1.4M; Going Concern Doubt Remains ------------------------------------------------------------------ Precipio, Inc. has filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting a net loss of $1.4 million for the three months ended March 31, 2026, compared to a net loss of $884,000 for the same period in the prior year. Net sales for the three months ended March 31, 2026 were approximately $6.7 million, an increase of $1.8 million as compared to the same period in 2025. The Company have incurred substantial operating losses for the past several years and while it has shown cash provided by its operating activities over the past year, this was largely aided by $0.8 million in payments received related to non-recurring Employee Retention Credits. For the three months ended March 31, 2026, the Company had an operating loss of $1.4 million and net cash provided by operating activities of $0.1 million. As of March 31, 2026, it had an accumulated deficit of $104.2 million and working capital of $2.1 million. The Company's ability to continue as a going concern over the next 12 months is dependent upon a combination of achieving its business plan, including generating additional revenue, and raising additional financing to meet debt obligations and paying liabilities arising from normal business operations when they come due. Notwithstanding the circumstances, there remains substantial doubt about the Company's ability to continue as a going concern over the next 12 months from May 14, 2026, the date of issuance of the Quarterly Report on Form 10-Q. There can be no assurance that the Company will be able to successfully achieve its initiatives in order to continue as a going concern. A full text copy of the Company's Form 10-Q is available at https://tinyurl.com/yme3489v About Precipio Omaha, Neb.-based Precipio, Inc., formerly known as Transgenomic, Inc. -- http://www.precipiodx.com/-- is a healthcare solutions Company focused on cancer diagnostics. Its business mission is to address the pervasive problem of cancer misdiagnoses by developing solutions to mitigate the root causes of this problem in the form of diagnostic products, reagents, and services. New Haven, Conn.-based CBIZ CPAs P.C., the Company's auditor since 2016, issued a "going concern" qualification in its report dated March 30, 2026, 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 March 31, 2026, the Company had $20.8 million in total assets, $6.6 million in total liabilities, and $14.2 million in total stockholders' equity. PRECISION OPTICS: Needham Investment, Affiliates Hold 15.3% Stake ----------------------------------------------------------------- Needham Investment Management L.L.C., Needham Asset Management, LLC, Needham Aggressive Growth Fund, and George A. Needham disclosed in a Schedule 13G (Amendment No. 3) filed with the U.S. Securities and Exchange Commission that as of March 31, 2026, they each beneficially own 1,670,550 shares with no sole voting power, 1,670,550 shared voting power, no sole dispositive power, and 1,670,550 shared dispositive power of Precision Optics Corporation, Inc.'s Common Stock, par value $0.01 per share, each representing 15.3% of the outstanding shares. Needham Investment Management L.L.C. may be reached through: James W. Giangrasso, Chief Financial Officer Needham Investment Management L.L.C. 250 Park Avenue 10th Floor New York, NY 10117-1099 Tel: 212-705-0404 A full-text copy of Needham Investment Management's SEC report is available at: https://tinyurl.com/u6u4dpp6 About Precision Optics Precision Optics Corporation, Inc. has been a developer and manufacturer of advanced optical instruments since 1982 and operates primarily in two key market segments: medical devices and advanced defense/aerospace products. Within its proprietary optical and imaging technology, its unique custom designs, expert manufacturing capabilities, and advanced engineering and development capabilities have generated traditional endoscopes and endocouplers, digital imaging endoscopes using CMOS sensor technology, some designed and manufactured for single use, as well as other, more advanced, custom imaging and illumination products for our customers' use in minimally invasive surgical procedures. The Company designs and manufactures ultra-high precision endoscopes and very small Microprecision lenses, assemblies and complete medical devices to meet the surgical community's continuing demand for smaller, disposable, and more enhanced imaging systems for minimally invasive surgery. It also applies its unique technologies to applications in the Defense / Aerospace markets including applications supporting satellite network communications. Management anticipates that its cash on hand of $0.9 million as of December 31, 2025 is insufficient to fund its planned operations for a period of at least one year. These factors raise substantial doubt regarding the Company's ability to continue as a going concern. As of December 31, 2025, the Company had $22,895,553 in total assets, $13,565,819 in total liabilities, and $9,329,734 in total stockholders' equity. PRICE PLUMBING: Stephen Moriarty Named Subchapter V Trustee ----------------------------------------------------------- The U.S. Trustee for Region 14 appointed Stephen Moriarty, Esq., at Fellers, Snider, Blankenship, Bailey & Tippens, P.C., as Subchapter V trustee for Price Plumbing, Inc. Mr. Moriarty will be paid an hourly fee of $595 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Moriarty declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Stephen J. Moriarty, Esq. Fellers, Snider, Blankenship, Bailey & Tippens, P.C. 100 N. Broadway, Suite 1700 Oklahoma City, OK 73102 Telephone: (405) 232-0621 Facsimile: (405) 232-9659 Email: smoriarty@fellerssnider.com About Price Plumbing Inc. Price Plumbing, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Oklahoma Case No. 26-11587) on May 12, 2026, with $100,001 to $500,000 in both assets and liabilities. Judge Janice D. Loyd presides over the case. Joshua L. Farmer, Esq., at Great Plains Legal Services represents the Debtor as bankruptcy counsel. PRINTED MINT: Case Summary & 20 Largest Unsecured Creditors ----------------------------------------------------------- Debtor: Printed Mint LLC 1818 W. Bell Rd. Ste. 120 Phoenix, AZ 85023 Business Description: Printed Mint LLC provides print-on-demand, branded drop-shipping, fulfillment and white-label customization services for e-commerce businesses. The company produces, packages and ships customizable products, including accessories, apparel, drinkware, home and living products, pet accessories and pet apparel, using print technologies such as dye sublimation, latex printing, direct-to-garment printing and decal transfer. Printed Mint serves brands, creators, retailers, entrepreneurs and other product-based businesses. Chapter 11 Petition Date: May 19, 2026 Court: United States Bankruptcy Court District of Arizona Case No.: 26-04939 Judge: Hon. Eddward P. Ballinger Jr Debtor's Counsel: Lamar Hawkins, Esq. GUIDANT LAW PLC 4320 E Presidio Street, Suite 101 Mesa, AZ 85282 Email: lamar@guidant.law Total Assets: $829,358 Total Liabilities: $7,253,873 The petition was signed by Christopher J Ellis as manager. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/WBQN2MA/Printed_Mint_LLC__azbke-26-04939__0001.0.pdf?mcid=tGE4TAMA QUICK PRINTS: Files Emergency Bid to Use Cash Collateral -------------------------------------------------------- Quick Prints, LLC asks the U. S. Bankruptcy Court for the Southern District of Florida, Fort Lauderdale Division, for authority to use cash collateral and provide adequate protection. The U.S. Small Business Administration and another unidentified secured creditor that filed a UCC-1 financing statement in 2023 assert interests in the cash collateral. The Debtor states that uninterrupted access to cash is essential for maintaining ordinary business operations, including payroll, taxes, inventory purchases, rent, utilities, insurance, and other operational expenses. The Debtor argues that without immediate access to cash collateral, the business could face operational shutdown, which would damage the estate and hinder reorganization efforts. The SBA and the unidentified creditor each claim security interests in substantially all of the Debtor's assets, including accounts receivable, inventory, equipment, deposit accounts, and related proceeds. These creditors contend that their liens extend to the Debtor's cash collateral, including cash, account balances, receivables, and proceeds from collateral. However, the Debtor expressly reserves the right to challenge the validity, perfection, priority, and enforceability of these alleged liens and states that no final lien analysis has yet been completed. To provide adequate protection, Quick Prints proposes granting replacement liens on post-petition cash collateral to the extent of any decline in value caused by use of the funds. The Debtor also proposes granting superpriority administrative claims if replacement liens prove insufficient, maintaining insurance coverage, and providing financial reporting to the secured creditors and the U.S. Trustee. The Debtor seeks expedited approval, arguing immediate relief is necessary to avoid irreparable harm and maintain ongoing operations during the Chapter 11 process. A copy of the motion is available at https://urlcurt.com/u?l=fbxEEk from PacerMonitor.com. About Quick Prints, LLC Quick Prints, LLC is a commercial printing business. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-16091-SMG) on May 11, 2026. In the petition signed by Williamsen Exemar, owner/president, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Scott M. Grossman oversees the case. Andrew Kamensky, Esq., at Tax Workout Group, P.A., represents the Debtor as legal counsel. QVC GROUP: Charles Schwab Investment Holds 4.73% Equity Stake ------------------------------------------------------------- Charles Schwab Investment Management Inc disclosed in a Schedule 13G (Amendment No. 3) filed with the U.S. Securities and Exchange Commission that as of March 31, 2026, it beneficially owns 3,662,774 shares of QVC Group, Inc.'s Series A Common Stock, representing 4.73% of the shares outstanding, reflecting ownership of 5 percent or less of a class. Charles Schwab Investment Management Inc may be reached through: Omar Aguilar, Chief Executive Officer 425 Market Street Suite 1700 San Francisco, CA 94105 Tel: 800-650-9744 A full-text copy of Charles Schwab Investment Management Inc's SEC report is available at: https://tinyurl.com/3zj8a4hf About QVC Group QVC Group, Inc., formerly known as Qurate Retail, Inc. -- https://www.qvcgrp.com/ -- owns interests in subsidiaries and other companies which are primarily engaged in the video and online commerce industries. Through its subsidiaries and affiliates, the Company operates in North America, Europe and Asia. Its principal businesses and assets include its consolidated subsidiaries QVC, Inc., Cornerstone Brands, Inc., and other cost method investments. QVC Group sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90447) on April 16, 2026. In its petition, the Debtor reports more than $1 billion in assets and estimated liabilities of $6.6 billion. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtor is represented by Jason S. Brookner, Esq. and Lydia R. Webb of Gray Reed & McGraw LLP. RACE RANCH: Christopher Lee Named Subchapter V Trustee ------------------------------------------------------ Jerry Jensen, the Acting U.S. Trustee for Region 13, appointed Christopher Lee as Subchapter V trustee for Race Ranch Wear, LLC. Mr. Lee will be paid an hourly fee of $350 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Lee declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Christopher Lee Sandberg Phoenix 120 S. Central Avenue, Suite 1600 Clayton, MO 63105 clee@sandbergphoenix.com (314) 725-9100 About Race Ranch Wear LLC Race Ranch Clothing Co. operates an online apparel and merchandise store based in Jackson, Missouri. The company sells racing- and ranch-themed products, including hats, T-shirts, hoodies, crewnecks, decals, diecast cars, gift cards and merchandise for drivers, teams and manufacturers in late model and modified racing. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mo. Case No. 26-10320) on May 8, 2026, with $1 million to $10 million in both assets and liabilities. Matthew E. James, member, signed the petition. Andrew R. Magdy, Esq., at Summers Compton Wells, LLC represents the Debtor as legal counsel. RAY'S PIZZA: Hires Wesler & Associates CPA PC as Accountant ----------------------------------------------------------- Ray's Pizza 88 LLC seeks approval from the U.S. Bankruptcy Court for the District of Arizona to employ Wesler & Associates CPA PC as accountant. The firm will provide these services: a. preparation of operating reports; b. preparation of tax returns; and c. additional accounting services including bookkeeping support, payroll, and year end journal entries. The firm will be paid at these rates: Cheryl Wesler, CPA $ 375 per hour Kristin Lytle, CPA $ 275 per hour Support Staff $ 175 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Cheryl Wesler, CPA, a partner at Wesler & Associates CPA PC, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Cheryl Wesler, CPA Wesler & Associates CPA, PC 4664 Campus Drive, Suite 100 Kalamazoo, MI 49008 Telephone: (269) 482-1015 Email: info@weslercpa.com About Ray's Pizza 88 LLC Ray's Pizza 88 LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 26-02881) on March 25, 2026. In the petition signed by Robert A. Grover, Jr., member, the Debtor disclosed up to $100,000 in assets and up to $1 million in liabilities. Judge Madeleine C. Wanslee oversees the case. Ronald J. Ellett, Esq., at Ellett Law Offices, PC, represents the Debtor as legal counsel. REBORN COFFEE: Delays First Quarter 2026 10-Q Filing ---------------------------------------------------- Reborn Coffee, Inc. announced in a regulatory filing that it is unable to file its Quarterly Report on Form 10-Q for its quarter ended March 31, 2026 by the prescribed date without unreasonable effort or expense. The Company believes that the Quarterly Report will be completed and filed within the extension period provided under Rule 12b-25 of the Securities Exchange Act of 1934, as amended. About Reborn Coffee Brea, Calif.-based Reborn Coffee, Inc. (NASDAQ: REBN) -- https://www.reborncoffee.com/ -- is focused on serving high quality, specialty-roasted coffee at retail locations, kiosks, and cafes. Reborn is an innovative Company that strives for constant improvement in the coffee experience through exploration of new technology and premier service, guided by traditional brewing techniques. Reborn differentiates themselves from other coffee roasters through innovative techniques, including sourcing, washing, roasting, and brewing their coffee beans with a balance of precision and craft. Irvine, Calif.-based BCRG Group, the Company's auditor since 2024, issued a "going concern" qualification in its report dated April 22, 2026, attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2025, citing that the Company's significant operating losses raise substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had $13.2 million in total assets, $8.5 million in total liabilities, and $4.6 million in total stockholders' equity. REKOR SYSTEMS: Church Pension Fund Holds 7.6% Equity Stake ---------------------------------------------------------- Church Pension Fund disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of March 31, 2026, it beneficially owns 10,391,918 shares of Rekor Systems, Inc.'s Common Stock, representing 7.6% of the outstanding shares. The Church Pension Fund (CPF) relies on section 3(c)(14) of the Investment Company Act and is the sponsor and administrator of the church plans and owner of the commingled accounts that collectively hold the shares. Church Pension Fund may be reached through: Michael Hood, Authorized Representative 19 E 34TH ST New Yok, NY 10016 Tel: (800) 223-6602 A full-text copy of Church Pension Fund's SEC report is available at: https://tinyurl.com/3kvf7yf9 About Rekor Systems Rekor Systems, Inc., headquartered in Columbia, Md., is working to revolutionize public safety, urban mobility, and transportation management using AI-powered solutions designed to meet the distinct demands of each market it serves. The Company works hand-in-hand with its customers to deliver mission-critical traffic and engineering services that assist them in achieving their goals. The Company's vision is to improve the lives of citizens and the world around them by enabling safer, smarter, and greener roadways and communities. The Company works towards this by collecting, connecting, and organizing mobility data, and making it accessible and useful to its customers for real-time insights and decisioning for situational awareness, rapid response, risk mitigation, and predictive analytics for resource and infrastructure planning and reporting. Morristown, New Jersey-based CBIZ CPAs P.C., the Company's auditor since 2019 (such date takes into account the acquisition of the attest business of Marcum LLP by CBIZ CPAs P.C. effective November 1, 2024), issued a "going concern" qualification in its report dated March 31, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has incurred significant losses and needs to raise additional funds to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had $85,387,000 in total assets, $42,517,000 million in total liabilities, and $42,870,000 in total stockholders' equity. RELIABLE MOVERS: Seeks Chapter 11 Bankruptcy in Washington ---------------------------------------------------------- On May 4, 2026, Reliable Movers, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Western District of Washington. According to court filings, the debtor reports between $1 million and $10 million in debt owed to between 1 and 49 creditors. A meeting of creditors under Section 341(a) to be held on June 1, 2026 at 09:30 AM via Telephonic Creditors Meeting Chapter 11. About Reliable Movers, LLC Reliable Movers, LLC provides moving and relocation services. The company sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11489) on May 4, 2026. In its petition, the debtor reported estimated assets ranging from $0 to $100,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Christopher M. Alston handles the case. The debtor is represented by Thomas D. Neeleman of Neeleman Law Group PC. RELLIS CAMPUS: Submits New Chapter 11 Sale Timeline --------------------------------------------------- Vince Sullivan of Law360 Bankruptcy Authority reports that bankrupt operator RELLIS Campus Data and Research Center LLC submitted proposed bidding and sale procedures in Texas bankruptcy court on Wednesday, setting the stage for a possible June hearing to approve a sale of company assets. The filing lays out the framework for soliciting competing offers and conducting an auction process under Chapter 11. The debtor said the proposed schedule would help streamline the sale effort while ensuring interested buyers have an opportunity to participate. The sale process is part of the company’s broader restructuring strategy aimed at addressing creditor claims and preserving value through a court-approved transaction. The case highlights the financial pressures facing some technology infrastructure operators amid changing market conditions, the report relays. About RELLIS Campus Data and Reserch Center LLC RELLIS Campus Data and Research Center, LLC and Optimus DataCenters, LLC are two non-operator entities owned by TenTech-3 Holdings, LLC, formed to develop and manage a data center on Texas A&M University's RELLIS Campus in Bryan, Texas. The RELLIS Campus, designed to foster innovation and technology for public and private sector applications, provides the setting for the planned facility along State Highway 21 on its northern side. The Debtors filed Chapter 11 petitions (Bankr. S.D. Texas Lead Case No. 25-90666) on November 5, 2025. At the time of the filing, RELLIS listed between $10 million and $50 million in assets and liabilities while Optimus DataCenters listed between $10 million and $50 million in assets and up to $50,000 in liabilities. Judge Alfredo R Perez oversees the cases. The Debtors tapped Christopher Adams, Esq., at Okin Adams Bartlett Curry, LLP as legal counsel and Veritas Restructuring Group as restructuring and financial advisor. RESOLUTE INVESTMENT: S&P Lowers ICR to 'B-' on Elevated Leverage ---------------------------------------------------------------- S&P Global Ratings lowered its issuer credit rating (ICR) on Resolute Investment Managers Inc. to 'B-' from 'B'. S&P also assigned its 'B-' ICR to the company's parent, Resolute Topco Inc. S&P said, "At the same time, we lowered our issue-level ratings on the company's $350 million first-lien term loan, to 'B-' from 'B.' The recovery rating remains '3', indicating our expectation of meaningful (60%) recovery in the event of a default. "The stable outlook reflects our expectation that Resolute's EBITDA will generally be flat over the next year, with improvement toward the end of 2026 and into 2027 while contributions are realized from recent AUM growth across new product offerings. It also incorporates our view that Resolute continues to face refinancing risks associated with its concentrated debt maturities, although some recent extensions alleviated some near-term pressure." Despite healthy AUM growth in 2025, revenue and EBITDA declined at Resolute Topco Inc. and Resolute Investment Managers Inc. (collectively, Resolute). This led to key credit metrics underperforming our expectations, with debt to EBITDA now projected to remain above 5x in 2026. While Resolute's operating performance has shown signs of improvement, its revenue and EBITDA decreased in 2025, further pressuring credit protection measures. Its assets under management (AUM) plus distribution and service assets grew roughly 5% in 2025, to $100.7 billion, with an additional 17% growth in AUM year-to-date (with assets also growing to $1.8 billion as of May 20, 2026, up from $1.5 billion as of Dec. 31, 2025). But while favorable market performance drove that growth, net flows were mixed. Net outflows--which appear to be moderating--did increase $4.1 billion, driven by American Beacon funds and affiliates. As a result, Resolute's net operating revenue declined 2% year over year in 2025 (primarily because of a 10% decrease in American Beacon fund revenue). That stemmed from lower average AUM and a 2.1-basis-point compression in net revenue rates. Positive market returns mitigated the impact on overall asset base, but S&P believes the increase in outflows reflects broader industry trends. And while Resolute's equity strategies have demonstrated long-term strength, mixed short-term results and the headwinds faced by the AHL Managed Futures strategy in the first quarter of 2026 underscore Resolute's exposure to market and geopolitical volatility (although this trend has reversed in recent months representing a clear turnaround as markets normalized). S&P said, "We anticipate continued volatility in flows across asset classes, with outflows in mutual funds. And we believe managers with highly diversified offerings are likely to see greater long-term stability. "We do view favorably the progress Resolute has made in proactively diversifying its investment offerings to appeal to investor needs, which has supported some of its recent AUM growth. The company is broadening its offerings away from mutual funds to areas with greater growth potential, such as alternatives, and those areas have higher management fees. We have also seen affiliate NIS, with its active fixed income strategies, contribute to AUM growth. "We believe this positions the company for more stable long-term growth--but it'll take time for this growth to translate into run-rate EBITDA growth. This could happen in the fourth quarter of 2026, in our view, provided net outflows don't accelerate. Also, Resolute's affiliate model continues to support industry-leading EBITDA margins, which we expect will persist even as the company diversifies. "We don't project material improvement in leverage over the next two years. Resolute's S&P Global Ratings-adjusted debt to EBITDA was 5.6x in 2025, up modestly from 2024 largely on decreasing revenue and EBITDA. We expect it to remain above 5x over the next year, with EBITDA interest coverage below 2x. "As a result, we view the company's capital structure as highly leveraged. While we expect some deleveraging over time, we believe it would come from EBITDA growth rather than debt repayment over the next few years. "We believe Resolute's short weighted-average maturity could pose liquidity concerns as maturities approach. In August 2025, Resolute did extend the maturity of its $350 million term loan to October 2028 from April 2027. It also extended the maturity of the multiboutique asset manager's revolving credit facility to July 2028 from January 2027, while reducing the capacity to $22 million from $40 million. While these extensions modestly alleviated near-term refinancing risks, its short weighted-average maturity schedule remains a key consideration since its entire capital structure turns current in 18 months. "While we believe management remains engaged in evaluating refinancing options, there's still significant uncertainty about macroeconomic conditions. Our U.S. economic forecast sees GDP growth of 2.2% in 2026 and average growth of 1.9% in 2027-2029, but it acknowledges risks from geopolitical events and potential oil shocks, with it seeing a 30% chance of a recession over the next 12 months. "That said, we believe Resolute could be better positioned to refinance as its recent AUM growth translates into EBITDA growth, potentially over the next 12 months. This would depend on market performance, net flows, and the trajectory for average management fees. While it remains to be seen if Resolute's shift toward more diversified strategies can yield scalable growth, we expect an inflection point over the next year, with EBITDA growth turning positive. "The stable outlook reflects our expectation that Resolute's EBITDA will generally be flat over the next few quarters, with improvement toward the end of 2026 and into 2027 while contributions are realized from recent AUM growth across new product offerings. This should result in S&P Global Ratings-adjusted debt to EBITDA of 5x-6x over the next year, followed by potential improvement thereafter, depending on the level of growth. "The stable outlook also incorporates our view that Resolute continues to face refinancing risks associated with its concentrated debt maturities--including its revolving credit facility due July 2028 and its $350 million term loan due October 2028--although extensions did alleviate some near-term pressure." S&P could lower its ratings on Resolute over the next year if S&P expects that: -- It wouldn't be able to refinance its upcoming debt maturities well ahead of them turning current, or -- It could pursue a transaction that would result in the debtholders receiving less what was originally promised. S&P could raise its ratings on Resolute if: -- It refinances or extends the maturities of its debt beyond its current maturity by at least two years; or -- It maintains AUM growth with revenue and EBITDA trending up, such that S&P expects the company to operate with a more conservative financial policy on a sustained basis, with debt to EBITDA declining and remaining below 5.0x and EBITDA interest coverage improving to roughly 2.0x (or better). REVIVA PHARMACEUTICALS: Barclays PLC Holds 5.96% Equity Stake ------------------------------------------------------------- Barclays PLC disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of March 31, 2026, it beneficially owns 763,579 shares of Reviva Pharmaceuticals Holdings, Inc.'s Common Stock, representing 5.96% of the outstanding shares. Barclays PLC may be reached through: Ramya Rao, Director 1 Churchill Place Canary Wharf London X0 E14 5HP 00442031340952 A full-text copy of Barclays PLC's SEC report is available at: https://tinyurl.com/2xecx8ab About Reviva Pharmaceuticals Holdings Cupertino, Calif.-based Reviva Pharmaceuticals Holdings, Inc. is a late-stage biopharmaceutical Company that discovers, develops, and seeks to commercialize next-generation therapeutics for diseases representing unmet medical needs and burdens to society, patients,and their families. San Francisco, California-based Baker Tilly US, LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 27, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing 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 March 31, 2026, the Company had $23.6 million in total assets, $6.1 million in total liabilities, and $17.4 million in total stockholders' equity. REVIVA PHARMACEUTICALS: Posts $3.2MM Q1 Loss, Warns of Cash Crunch ------------------------------------------------------------------ Reviva Pharmaceuticals Holdings, Inc. has filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting a net loss of $3.2 million for the three months ended March 31, 2026, compared to a net loss of $6.4 million for the same period in the prior year. The Company has incurred losses since inception and as of March 31, 2026, the Company had a working capital surplus of approximately $17.4 million, an accumulated deficit of $187.3 million and cash and cash equivalents on hand of approximately $22.2 million. The Company's net loss for the three months ended March 31, 2026 and 2025, was approximately $3.2 million and $6.4 million, respectively. The Company expects to incur significant expenses and increased operating losses for the next several years. The Company expects its expenses to increase in connection with its ongoing activities to research, develop and commercialize its product candidates. The Company will need to generate significant revenues to achieve profitability, and it may never do so. The Company's current cash on hand is not sufficient to satisfy its operating cash needs for the 12 months from the filing of this Quarterly Report on Form 10-Q. During the three months ended March 31, 2026, the Company raised capital through registered financial offerings, including sales of common stock pursuant to the Company's May 2025 ATM Sales Agreement and the sale of common stock, common stock warrants, and prefunded warrants through a public offering. The Company believes that it has adequate cash on hand, including the net proceeds of the March 2026 public offering, to cover anticipated outlays into early 2027, but will need additional fundraising activities and cash on hand prior to such time. The Company has based this estimate, however, on assumptions that may prove to be wrong, and could spend available financial resources much faster than it currently expects. The Company will need to raise additional funds to continue funding its development efforts and operations. The Company intends to secure such additional funding, although there are no guarantees or commitments for additional funding. These conditions raise substantial doubt regarding the Company's ability to continue as a going concern for the next 12 months. The amount and timing of the Company's future funding requirements will depend on many factors, including the pace and results of the Company's clinical development efforts. The Company will seek to fund its operations through public or private equity or debt financings or other sources, which may include collaborations with third parties. Adequate additional financing may not be available to the Company on acceptable terms, or at all. Should the Company be unable to raise sufficient additional capital, the Company may be required to undertake cost-cutting measures including delaying, discontinuing certain clinical activities or ceasing operations. A full text copy of the Company's Form 10-Q is available at https://tinyurl.com/57j68vdw About Reviva Pharmaceuticals Holdings Cupertino, Calif.-based Reviva Pharmaceuticals Holdings, Inc. is a late-stage biopharmaceutical company that discovers, develops, and seeks to commercialize next-generation therapeutics for diseases representing unmet medical needs and burdens to society, patients,and their families. San Francisco, California-based Baker Tilly US, LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 27, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing 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 March 31, 2026, the Company had $23.6 million in total assets, $6.1 million in total liabilities, and $17.4 million in total stockholders' equity. RHINOGRAM INC: Gets Interim OK to Use Cash Collateral ----------------------------------------------------- Rhinogram, Inc. got the green light from the U.S. Bankruptcy Court for the Eastern District of Tennessee, Southern Division, to use cash collateral. At the recently held hearing, the court authorized the Debtor's interim use of cash collateral and set a final hearing for June 11. The Debtor needs its cash collateral to meet ongoing operational obligations such as insurance, maintenance, taxes, management expenses, supplies, and other overhead costs necessary to continue business operations and pursue a successful reorganization or sale process. Creditors that may assert interests in the cash collateral include those associated with Tennessee UCC filings held by CT Corporation System, Corporation Service Company, First Bank, and the U.S. Small Business Administration. The Debtor estimates that its total secured debt is approximately $3.3 million but asserts that the value of its encumbered assets, including equipment, fixtures, and patents, significantly exceeds the secured obligations. As a result, secured creditors are substantially oversecured and adequately protected by a large equity cushion and existing insurance coverage on the collateral. About Rhinogram Inc. Rhinogram, Inc., a company based in Chattanooga, Tennessee, provides a cloud-based patient engagement and virtual care platform that enables health-care providers, patients and office administrators to communicate through HIPAA-compliant SMS/MMS messaging, video interactions, encrypted phone calls, e-forms, appointment reminders and contactless payment tools. Founded in 2017 by Dr. Keith Dressler, the company serves medical, dental, behavioral health, community health, specialty care and health-system customers, with its platform integrating with EHR and practice-management systems to support patient communications and clinical workflows. Rhinogram sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tenn. Case No. 26-111990 on May 5, 2026. In the petition signed by Keith Dressler, chairman, the Debtor disclosed up to $50,000 in assets and up to $50 million in liabilities. Judge Nicholas W. Whittenburg oversees the case. The Debtor is represented by W. Thomas Bible, Jr., Esq., at Tom Bible Law. ROSE WAY: Secured Party Sets June 25, 2026 Public Auction --------------------------------------------------------- In accordance with applicable provisions of the Uniform Commercial Code as enacted in New York, CF-IF-2020-2, LLC a Delaware limited liability company ("Secured Party"), will sell the collateral consisting of all the right, title, and interest of Rose Way, LLC, a New York limited liability company ("Rose Way"), Mohamed Grimeh, an individual ("Grimeh"), and Jonathan Bognacki ("Bognacki"), an individual ("Debtor"), in and to: (i) the entire 100% equity membership interest of Rose Way in Rose Way II, LLC, a New York limited liability company (the "Company"); (ii) the 33.55% equity membership interest of Grimeh in Rose Way, LLC, a New York limited liability company (the "Grimeh Interests" ); (iii) the 33.53% equity membership interest of Bognacki in Rose Way, LLC, a New york limited liability company (the "Bognacki Interests"); (iv) all other limited liability company interests in the Company, including any economic interest, right to share in the income, gains, losses, deductions, credit, or similar items of, and to receive distributions from, the Company, any right to vote and right to receive information concerning the business and affairs of the Company; and (v) all other collateral pledged by Debtor under a Pledge and Security Agreement dated December 20, 2021 ("2021 Pledge") and a Pledge and Security Agreement dated April 22, 2025 ("2025 Pledge" and together with the 2021 Pledge, collectively, the "Rose Way Pledge Agreement"), an October 19, 2019 Membership Interest Pledge Agreement between Grimeh and Goldman Sachs Bank USA (the "Grimeh Pledge Agreement"), an October 19, 2019 Membership Interest Pledge Agreement between Bognacki and Goldman Sachs Bank USA (the "Bognacki Pledge Agreement"), and each Note and related agreements executed in connection with each Loan, as such term is defined in each Pledge Agreement (collectively the "Loan and Security Agreements") and any and all related loan documents (as defined in the Notice of Disposition of Collateral) (collectively, the "Collateral"). The collateral will be sold to the highest qualified bidder at a public sale in accordance with the applicable law. The Company owns certain property and improvements located at 10 Phillips Lane, Southampton, New York 11968. The sale will take place beginning at 3:00 p.m. Eastern Time, on June 25, 2026, via a web-based video conferencing and/or telephonic conferencing program selected by Secured Party, at the top of the front steps of the New York County Supreme Court located at 60 Centre, Street, New York, NY 10007 and online via Zoom at the following URL: https://bit.ly/RoseWayUCC (URL is case sensitive), Meeting ID: 898 2835 3321, Passcode: 113118. The Collateral will be sold to the highest Qualified Bidder, as that term is defined in the Terms of Sale (the "Terms of Sale") attached to the Notice of Disposition of Collateral, dated May 11, 2026 (the "Notice of Disposition"); provided, however, that Secured Party reserves the right to cancel the sale in its entirety or to adjourn the sale to a future date. The sale will be conducted by Mannion Auctions, LLC, by Matthew D. Mannion, Lead Auctioneer, NYC DCA License No. 1434494, with an office at 299 Broadway, Suite 1601, New York, New York 10007. The Collateral will be sold as a block and will not be divided or sold in any lesser amounts. Interested parties that intend to bid on the Collateral must contact Matt Mannion -- mdmannion@jpandr.com -- or Ethan Holtz --Eholtz@taftlaw.com to receive the Terms of Sale and bidding instructions. Upon execution of a Terms of Access and Non-Disclosure Agreement, in a form to be provided by counsel for Secured Party, additional documentation and information will be available. Interested parties that are not Qualified Bidders, as that term is defined in the Terms of Sale, will not be permitted to enter a bid. RYVYL INC: Rebrands as RTB Digital Following Merger Completion -------------------------------------------------------------- RTB Digital, Inc. (formerly RYVYL Inc.) announced that RYVYL Merger Sub Inc., a wholly owned subsidiary of Ryvyl, merged with and into RTB Digital, Inc., with RTB surviving the merger as a wholly owned subsidiary of Ryvyl. Pursuant to the terms of the Merger Agreement, Ryvyl changed its name from "Ryvyl Inc." to "RTB Digital, Inc." to reflect the ongoing business of RTB as the world's only full-stack enterprise media platform, combining AI-powered operations for IP management and security, full-stack Web3 publishing infrastructure, and a "real-time" DeFi payment, reporting, and settlement platform for media sales, distribution and operations managed across the RTB platform. On May 13, 2026, the common stock of the post-merger company will commence trading on the Nasdaq Capital Market under the symbol RTB. The CUSIP number for the common stock remains the same as that assigned prior to the merger. Current outstanding share certificates and share account statements of Ryvyl are not required to be exchanged for new certificates to reflect the name change. Certificates of outstanding shares of Ryvyl, currently in the name of Ryvyl Inc., may be sent to the transfer agent, VStock Transfer, LLC, 18 Lafayette Place, Woodmere, NY 11598; telephone (212) 828-8436, to be reissued in the name of RTB Digital, Inc. Book entry account statements will reflect the change of name automatically. Background On September 28, 2025, RYVYL Inc., Merger Sub, and RTB Digital, Inc. entered into an Agreement and Plan of Merger, as subsequently amended. The merger parties agreed to consummate the merger notwithstanding any unfulfilled conditions thereto, and agreed that certain actions, such as the resignation and appointment of directors and other actions set forth in the Merger Agreement and that would ordinarily take place at the consummation of the merger would be taken in due course over the following couple of days. As a result of the merger being consummated, Ryvyl will issue 11,893,886 shares of common stock in exchange for the issued and outstanding shares of common stock, preferred stock and assumed notes and interest due thereon, resulting in an aggregate of 13,174,895 shares of common stock being issued and outstanding immediately after the merger. Ryvyl will also assume various other equity awards and warrants previously issued by RTB and outstanding as of the date of the merger, as agreed upon in the Merger Agreement. Ryvyl will also issue 109,410 shares due under its investment banking agreement with Maxim Partners LLC. Additional Information Full text copy of the Certificate of Amendment – Change of name to RTB Digital, Inc. and Certificate of Merger between RYVYL Merger Sub Inc. and RTB Digital, Inc. is available at https://tinyurl.com/3sujnmnr and https://tinyurl.com/mr3ef7jr, respectively. About RYVYL Inc. RYVYL Inc., headquartered in San Diego, Calif., 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. Rowland Heights, CA-based Simon & Edward, LLP, the Company's auditor since 2022, issued a "going concern" qualification in its report dated April 15, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has suffered recurring losses from operations and has experienced significant liquidity constraints following the discontinuation of its QuickCard operations and the sale of its European subsidiary, Ryvyl EU. These factors, alongside expectations of continued operating losses, raise substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had $13.1 million in total assets, $12.4 million in total liabilities, and $668,000 in total stockholders' equity. S & A INDUSTRIAL: Seeks to Hire Keith J. Peer CPA as Accountant --------------------------------------------------------------- S & A Industrial Contracting, Inc. seeks approval from the U.S. Bankruptcy Court for the Western District of Pennsylvania to hire Keith J. Peer, CPA and Financial Services as accountant. The firm will render these services: a. analysis of various settlements and projection of cash flow. b. prepare requested reports. Prepare corporate tax returns. Assist in any special projects or other requested services. Peer's professional rate is $150 per hour. Peer's staff level accounts' professional rate is $75 per hour. In addition, the firm will seek reimbursement for expenses incurred. Keith J. Peer, owner and manager of Keith J. Peer, CPA, assured the court that the firm is a "disinterested person," as that term is defined in section 101(14) of the Bankruptcy Code, and does not hold or represent any interest adverse to the Debtor's estate. The firm can be reached through: Keith J. Peer, CPA Keith J. Peer, CPA and Financial Services 606 Broad Avenue Belle Vernon, PA 15012 Telephone: (724) 929-0100 Facsimile: (724) 929-0177 Email: kpeer@keithjpeercpa.com About S & A Industrial Contracting, Inc. S & A Industrial Contracting, Inc., based in Perryopolis, Pennsylvania, provides repair and maintenance services for commercial and industrial machinery and equipment. The company operates within the industrial services sector and serves customers that utilize crane and hoist systems, positioning it in the broader market for industrial equipment maintenance and support. S & A Industrial Contracting, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Pa. Case No. 26-20786) on March 20, 2026, listing $500,000 to $1 million in assets and $1 million to $10 million in liabilities. The petition was signed by Stephen Celesti as authorized representative of the Debtor. Michael Shiner, Esq. at TUCKER ARENSBERG, P.C. serves as the Debtor's counsel. S&G LABS: Wins Bid to Extend Plan Exclusivity --------------------------------------------- The U.S. Bankruptcy Court for the District of Colorado granted the motion of S&G Labs Hawaii LLC to extend the exclusivity period to file a plan of reorganization. The judgment is entered in favor of the Movant, S&G Labs Hawaii, LLC and against the Respondent, Darren Graves. As shared by the Troubled Company Reporter, S&G Labs Hawaii, LLC, asked the U.S. Bankruptcy Court for the District of Colorado to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to June 8 and August 6, 2026, respectively. According to the Debtor, several factors favor granting the requested extension. First, good faith progress has been made towards reorganization, as evidenced by the filing of the Plan within the initial 120-day exclusivity window. Second, the filed Plan is a viable reorganization plan that addresses pre-petition claims and accounts for all bankruptcy estate assets. Third, the Debtor is paying its bills as they come due and filing its monthly operating reports. Fourth, this is the first extension request. Fifth, the Debtor is not seeking an extension to pressure creditors. Counsel to the Debtor: David J. Warner, Esq. WADSWORTH GARBER WARNER CONRARDY, P.C. 2580 West Main Street, Suite 200 Littleton, CO 80120 Telephone: (303) 296-1999 Telecopy: (303) 296-7600 E-mail: dwarner@wgwc-law.com A copy of the Court's Judgment dated May 6, 2026, is available at https://urlcurt.com/u?l=iNvoWX from PacerMonitor.com. About S&G Labs Hawaii LLC S&G Labs Hawaii LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Col. Case No. 25-18335) on Nov. 7, 2025. In its petition, the Debtor estimated assets up to $100,000 and estimated liabilities between $1 million and $10 million. The Debtor is represented by David Wadsworth, Esq. of Wadsworth Garber Warner Conrardy, P.C. SABLE OFFSHORE: Capital International Investors Holds 5.1% Stake ---------------------------------------------------------------- Capital International Investors disclosed in a Schedule 13G (Amendment No. 1) filed with the U.S. Securities and Exchange Commission that as of March 31, 2026, it beneficially owns 7,568,826 shares of Sable Offshore Corp.'s Common Stock, representing 5.1% of the 147,244,086 shares believed to be outstanding. Capital International Investors is a division of Capital Research and Management Company, as well as its investment management subsidiaries and affiliates Capital Bank and Trust Company, Capital International, Inc., Capital International Limited, Capital International Sarl, Capital International K.K., Capital Group Private Client Services, Inc., and Capital Group Investment Management Private Limited (together with CRMC, the "investment management entities"). CII's divisions of each of the investment management entities collectively provide investment management services under the name "Capital International Investors." Capital International Investors may be reached through: Aaron Espin, Senior Vice President 333 South Hope Street 55th Fl Los Angeles, CA 90071 Tel: 213-486-9200 A full-text copy of Capital International Investors' SEC report is available at: https://tinyurl.com/ymmh35ew About Sable Offshore Corp. Sable Offshore Corp. (formerly known as Flame Acquisition Corp. is an independent oil and gas Company headquartered in Houston, Texas. Flame was initially formed as a special purpose acquisition Company for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company's independent auditor, Ham, Langston & Brezina, L.L.P., based in Houston, Texas, and serving since 2024, included a "going concern" qualification in its report dated February 27, 2026, attached to the Annual Report on Form 10-K with the U.S. Securities and Exchange Commission for the fiscal year ended December 31, 2025 citing that uncertainties related to obtaining the remaining regulatory approvals necessary to resume sales of production, along with the uncertainty of obtaining additional financing, or refinancing the Senior Secured Term Loan raise substantial doubt about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $1.7 billion in total assets, $1.3 billion in total liabilities, and $421.9 million in total stockholders' equity. SABLE OFFSHORE: Continental General Insurance Co. Holds 9.3% Stake ------------------------------------------------------------------ Continental General Insurance Company, Continental Insurance Group, Ltd., Continental General Holdings LLC, and Michael Gorzynski disclosed in a Schedule 13G (Amendment No. 1) filed with the U.S. Securities and Exchange Commission that as of March 31, 2026, they each beneficially own 13,705,110 shares of Sable Offshore Corp.'s Common Stock, par value $0.0001 per share, each representing 9.3% of the 147,244,086 shares outstanding as of February 26, 2026, which is the total number of shares outstanding as reported in the Issuer's Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 27, 2026. Continental General Insurance Co may be reached through: Michael Gorzynski, Executive Chairman 11001 Lakeline Blvd., Ste. 120 Austin, TX 78717 Tel: 4023973200 About Sable Offshore Corp. Sable Offshore Corp. (formerly known as Flame Acquisition Corp. is an independent oil and gas Company headquartered in Houston, Texas. Flame was initially formed as a special purpose acquisition Company for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company's independent auditor, Ham, Langston & Brezina, L.L.P., based in Houston, Texas, and serving since 2024, included a "going concern" qualification in its report dated February 27, 2026, attached to the Annual Report on Form 10-K with the U.S. Securities and Exchange Commission for the fiscal year ended December 31, 2025 citing that uncertainties related to obtaining the remaining regulatory approvals necessary to resume sales of production, along with the uncertainty of obtaining additional financing, or refinancing the Senior Secured Term Loan raise substantial doubt about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $1.7 billion in total assets, $1.3 billion in total liabilities, and $421.9 million in total stockholders' equity. SALT HOUSE: Plan Exclusivity Period Extended to July 27 ------------------------------------------------------- Judge Laurie Selber Silverstein of the U.S. Bankruptcy Court for the District of Delaware extended Salt House, Inc.'s exclusive periods to file a plan of reorganization and obtain acceptance thereof to July 27 and Sept. 28, 2026, respectively. As shared by Troubled Company Reporter, the Debtor explains that it has made significant and material progress in this chapter 11 case. The achievements were the result of the extensive efforts of the Debtor, its management, and its professional advisors, in cooperation with various parties in interest in this chapter 11 case, to maximize the value of the Debtor's estate. Accordingly, the Debtor submits that this factor weighs in favor of extending the Exclusive Periods. The Debtor believes that, in light of the progress that the Debtor and other professionals have made in this chapter 11 case over the past four months, and the Debtor's demonstrated efforts to work cooperatively with its stakeholders, it is reasonable and appropriate that the Debtor be granted an extension of the Exclusive Periods. Accordingly, the Debtor submits that this factor weighs in favor of extending the Exclusive Periods. The Debtor asserts that it has endeavored to establish and maintain cooperative working relationships with its primary creditor constituencies throughout this chapter 11 process. Importantly, the Debtor is not seeking the extension of the Exclusive Periods to delay administration of this chapter 11 case or to exert pressure on its creditors, but rather to continue the orderly, efficient, and cost-effective chapter 11 process. Thus, this factor also weighs in favor of the requested extension of the Exclusive Periods. The Debtor further asserts that termination of the Exclusive Periods would adversely impact the company's efforts to preserve and maximize the value of the estate and the progress of this chapter 11 case. In effect, if the Court were to deny the Debtor's request for an extension of the Exclusive Periods, any party in interest would be free to propose an alternative chapter 11 plan for the Debtor. Terminating the Exclusive Periods would only foster a chaotic environment and cause opportunistic parties to engage in counterproductive behavior in pursuit of alternatives that are neither value-maximizing nor feasible under the circumstances of this chapter 11 case. Salt House Inc. is represented by: YOUNG CONAWAY STARGATT & TAYLOR, LLP Michael R. Nestor, Esq. Kara Hammond Coyle, Esq. Elizabeth S. Justison, Esq. Andrew M. Lee, Esq. Brynna M. Gaffney, Esq. James C. Diver, Esq. Rodney Square 1000 N. King Street Wilmington, Delaware 19801 Telephone: (302) 571-6600 Emails: mnestor@ycst.com kcoyle@ycst.com ejustison@ycst.com alee@ycst.com bgaffney@ycst.com jdiver@ycst.com About Salt House Inc. Salt House Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-12277) on Dec. 29, 2025, with $1,000,001 to $10 million in assets and $10,000,001 to $50 million in liabilities. Judge Laurie Selber Silverstein presides over the case. Michael R. Nestor, at Young Conaway Stargatt & Taylor, represents the Debtor as legal counsel. SELECTIS HEALTH: Delays Q1 2026 10-Q on Unfinished Financials ------------------------------------------------------------- Selectis Health, Inc. announced in a regulatory filing that it is unable to file its Quarterly Report on Form 10-Q within the prescribed time period because the Company has not completed the preparation of its unaudited financial statements for the fiscal quarter. The Company believes the Report will be filed on or before the 15th calendar day following the prescribed due date; or the subject quarterly report/portion thereof will be filed on or before the fifth calendar day following the prescribed due date. About Selectis Health Selectis Health Inc. is a Denver-based Company that owns and operates health care real estate and skilled nursing facilities through subsidiaries. The Company has focused on long-term care and related health care properties, including skilled nursing facilities in the United States. In an audit report dated April 15, 2026, WithumSmith+Brown, PC included a going concern qualification, stating that recurring losses, an accumulated deficit and limited liquidity raised substantial doubt about the Company's ability to continue as a going concern. As of Dec. 31, 2025, the Company had $32.58 million in total assets, $38.79 million in total liabilities, and a total deficit of $6.21 million. SILVERROCK DEVELOPMENT: Secures Court OK for Ch. 11 Plan After Deal ------------------------------------------------------------------- Rick Archer of Law360 Bankruptcy Authority reports that SilverRock Development secured approval Thursday, May 21, 2026, for its Chapter 11 reorganization plan in Delaware bankruptcy court after reaching a comprehensive agreement that resolved objections to the sale of company-owned land and related restructuring issues. According to statements made during the hearing, the settlement helped eliminate opposition from parties involved in the bankruptcy case and paved the way for confirmation of the restructuring proposal. The agreement also clarified terms surrounding creditor recoveries and the handling of sale proceeds. The confirmed plan allows the California property developer to proceed with its restructuring strategy and finalize transactions involving its real estate holdings. The ruling closes a significant chapter in the company's bankruptcy proceedings and positions it to complete the court-supervised process, the report relays. About SilverRock Development Company SilverRock Development Company, LLC, is a San Diego, Calif.-based company primarily engaged in renting and leasing real estate properties. SilverRock filed a Chapter 11 petition (Bankr. D. Del. Lead Case No. 24-11647) on Aug. 5, 2024, with $100 million to $500 million in both assets and liabilities. Robert S. Green, Jr., chief executive officer, signed the petition. Judge Mary F. Walrath handles the case. The Debtor is represented by Jonathan M. Stemerman, Esq., at Armstrong Teasdale. Reliable Companies, doing business as Reliable, is the Debtor's administrative advisor. SMARTZ INC: Hires William J. Factor Ltd as Bankruptcy Counsel ------------------------------------------------------------- Smartz Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of Illinois to hire The Law Office of William J. Factor, Ltd.as its bankruptcy counsel. The firm's services include: a. advising and consulting with the Debtor with respect to its powers, rights, and duties as a debtor and debtor-in-possession; b. attending meetings and negotiating with creditors, other parties in interest, and their respective representatives; c. advising and consulting with the Debtor on the conduct of the case, including all the legal and administrative requirements of operating under chapter 11 of the Bankruptcy Code; d. taking all necessary action to protect and preserve the Estate, including but not limited to prosecuting or defending all motions and proceedings on behalf of the Debtor and the Estate; e. preparing and filing, or defending, adversary proceedings or other litigation involving the Debtor or its interests in property; f. preparing motions, applications, answers, orders, reports, and other papers necessary to the administration of the case; g. preparing and negotiating a plan and disclosure statement and all related agreements and/or documents, and taking any necessary action to obtain confirmation of a plan; h. performing other necessary legal services and providing other necessary legal advice required by the Debtor in connection with the case. The firm will be paid as follows: William J. Factor, Partner $500 per hour Lars Peterson, Partner $425 per hour Alex J. Whitt, Associate $350 per hour Samuel Rodgers Paralegal $150 per hour Danielle Mesikapp, Paralegal $150 per hour In addition, the firm will seek reimbursement for expenses incurred. FactorLaw received a $25,000 advance payment retainer. As disclosed in the court filings, FactorLaw is a "disinterested person" within the meaning of section 101(14) of the Bankruptcy Code. The firm can be reached through: William J. Factor, Esq. Lars A. Peterson, Esq. FACTORLAW 105 W. Madison Street, Suite 2300 Chicago, IL 60602 Tel: (312) 878-6976 Fax: (847) 574-8233 Email: wfactor@wfactorlaw.com lpeterson@wfactorlaw.com About Smartz Inc. Smartz Inc., based in Champaign, Illinois, develops property management software platforms that automate real estate operations, including leasing, tenant services, maintenance tracking, and financial management. Founded in 2021, the company integrates smart building and Internet of Things technologies, such as access control and security systems, into its platform. Its products are used by property owners and managers. Smartz sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Ill. Case No. 26-90240) on April 12, 2026, with up to $50 million in assets and up to $10 million in liabilities. Smartz President Kevin Wan signed the petition. Judge Mary P. Gorman oversees the case. William J. Factor, Esq., at The Law Office of William J. Factor, Ltd., represents the Debtor as bankruptcy counsel. SPHERE 3D: Stockholders OK Key Proposals at Annual Meeting ---------------------------------------------------------- Sphere 3D Corp. held an Annual Meeting of Shareholders. Of the 3,767,086 shares of the Company's common shares outstanding as of the record date, 1,289,244 shares or 34.224%, were represented at the Meeting, constituting a quorum present at the Meeting. The shareholders considered three proposals at the Meeting, each of which is described in more detail in the Company's definitive proxy statement filed with the Securities and Exchange Commission on April 2, 2026. The voting results are: 1. Board Size On a vote taken regarding board size, it was declared that the shareholders approved a resolution to set the size of the board at three members and to elect three directors. Voting results are as follows: Votes For: 983,114 Votes Against: 127,056 Broker Non-Votes: 179,074 2. Election of Directors On a vote taken regarding the election of directors, it was declared that the shareholders approved a resolution to elect the following nominees as directors of Sphere 3D Corp. for the ensuing year or until their successors are duly elected or appointed. Voting results are as follows: 1. Timothy Hanley Votes For: 202,566 Votes Withheld: 15,464 Broker Non-Votes: 1,071,214 2. Susan Harnett Votes For: 204,293 Votes Withheld: 13,737 Broker Non-Votes: 1,071,214 3. Duncan J. McEwan Votes For: 202,808 Votes Withheld: 15,222 Broker Non-Votes: 1,071,214 3. Ratification of the Selection of Auditors On a vote taken regarding the ratification of the selection of auditors, it was declared that the shareholders approved a resolution to appoint MaloneBailey LLP as auditors of Sphere 3D Corp. Voting results are as follows: Votes For: 1,243,526 Votes Withheld: 45,718 Broker Non-Votes: 0 No other matters were voted upon at the Annual Meeting of Shareholders. About Sphere 3D Sphere 3D Corp. is a Stamford, Connecticut-based Company incorporated in Ontario, Canada, that operates a Bitcoin mining business. The Company began Bitcoin mining operations in January 2022 and seeks to grow an enterprise-scale mining operation through mining equipment procurement and service-provider partnerships. In an audit report dated March 27, 2026, MaloneBailey LLP included a going concern qualification, stating that Sphere 3D had suffered recurring losses from operations and did not expect to have sufficient cash on hand to fund operations. The conditions raised substantial doubt about the Company's ability to continue as a going concern. As of Dec. 31, 2025, the Company reported total assets of $25.12 million, total current liabilities of $1.80 million and total shareholders' equity of $23.30 million. SPRING MOUNTAIN: Seeks to Hire RE/MAX Ready as Real Estate Broker ----------------------------------------------------------------- Spring Mountain Brewing Company seeks approval from the U.S. Bankruptcy Court for the Eastern District of Pennsylvania to hire RE/MAX Ready as its real estate broker. The firm will market and sell the Debtor's real property located at 301 Walnut Street, Royersford, PA 19468, Parcel ID #19-00-14544-00-9. The firm will render these services: (a) list the property for sale, (b) market the property through commercially reasonable means (including MLS and other listing services, electronic and print media, and outreach to prospective purchasers), (c) coordinate showings and respond to inquiries, (d) assist in the negotiation of purchase offers, and (e) assist the Debtor and its counsel in connection with a sale of the Property under 11 U.S.C. Sec. 363. The broker will receive a commission equal to 2.5% of the gross purchase price. As disclosed in the court filings, RE/MAX Ready is a "disinterested person" as that term is defined in 11 U.S.C. Sec. 101(14). The firm can be reached through: Megan Herr RE/MAX Ready 341 Main Street Royersford, PA 19468 Tel: (610) 828-6300 Email: megan@askher.com About Spring Mountain Brewing Company Spring Mountain Brewing Company sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Pa. Case No. 26-10616) on February 17, 2026, with up to $50,000 in assets and $1,000,001 to $10 million in liabilities. Judge Ashely M. Chan presides over the case. Robert J. Lohr, II, Esq., at Lohr and Associates, Ltd. represents the Debtor as legal counsel. 1st Colonial Community Bank, as lender, is represented by Rebecca K. McDowell, Esq., at SALDUTTI LAW GROUP. STILLWATER HOLDINGS: Steven Nosek Named Subchapter V Trustee ------------------------------------------------------------ The Acting U.S. Trustee for Region 12 appointed Steven Nosek as Subchapter V trustee for Stillwater Holdings, LLC. Mr. Nosek 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. Nosek 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 B. Nosek 10285 Yellow Circle Drive Hopkins, MN 55343 Email: snosek@noseklawfirm.com About Stillwater Holdings LLC Stillwater Holdings, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Minn. Case No. 26-31580) on May 13, 2026, with $50,001 to $100,000 in assets. Judge William J. Fisher presides over the case. Joseph W. Dicker, Esq., at Joseph W. Dicker PA represents the Debtor as legal counsel. SUMMIT NETWORKS: First-Quarter Net Loss Narrows to $64,760 ---------------------------------------------------------- Summit Networks Inc. reported a net loss of $64,760 for the quarter ended March 31, 2026, compared with a net loss of $82,982 a year earlier, according to a Form 10-Q filing with the Securities and Exchange Commission. The Miami-based company said general and administrative expenses fell to $58,937 from $82,982, while interest expense was $5,823, compared with none in the prior-year quarter. Loss from operations narrowed to $58,937 from $82,982. As of March 31, 2026, Summit reported total assets of $143,290, total liabilities of $1.10 million and a total stockholders' deficit of $957,227. Cash and cash equivalents were $121,898, while accumulated deficit was $1.90 million. The company disclosed a net current liability of $1.10 million and said it used $60,041 in operating activities during the quarter. Summit said its ability to continue as a going concern depends on shareholders providing financial support, and that the conditions raised substantial doubt about its ability to continue as a going concern. The company said it currently relies on shareholder loans and equity financing to fund operating expenses. A full-text copy of the Form 10-Q is available for free at: https://www.sec.gov/Archives/edgar/data/1619096/000109181826000082/sntw03312026_10q.htm About Summit Networks Summit Networks Inc. is a Nevada corporation incorporated in 2014 and headquartered in Miami. The company is in a strategic transition phase and is pursuing controlling acquisitions of cash-flow-generating logistics enterprises, primarily in Asia. It intends to use operational models and digital frameworks developed during fiscal 2025 to support post-acquisition integration, operational efficiency and governance standardization. In an audit report dated April 24, 2026, Mao & Ying LLP included an emphasis-of-matter paragraph regarding going concern uncertainty, stating that Summit Networks had accumulated losses of $1.84 million since inception and incurred a loss of $331,073 during the year ended Dec. 31, 2025. The auditor said those events or conditions, along with other matters, indicated a material uncertainty that may cast substantial doubt about the company's ability to continue as a going concern. SUNPOWER INC: First-Quarter Net Income Rises to $5.25 Million ------------------------------------------------------------- SunPower Inc. reported net income of $5.25 million for the 13 weeks ended March 29, 2026, compared with net income of $4.81 million for the 13 weeks ended March 30, 2025, according to a Form 10-Q filing with the Securities and Exchange Commission. Revenue fell to $72.79 million from $78.41 million, while cost of revenue declined to $28.11 million from $51.04 million. Gross profit increased to $44.69 million from $27.38 million. Operating expenses rose to $63.88 million from $31.10 million, and loss from operations widened to $19.20 million from $3.73 million. Interest expense was $6.92 million, compared with $6.04 million a year earlier. Other non-operating income, net, increased to $30.76 million from $14.58 million. As of March 29, 2026, SunPower reported total assets of $262.09 million, total liabilities of $323.54 million and a total stockholders' deficit of $61.45 million. Cash and cash equivalents were $9.49 million, excluding restricted cash. The company disclosed an operating loss of $19.2 million for the 13-week period and said it had an accumulated deficit of $451.5 million and current debt of $38 million as of March 29, 2026. SunPower said it expects operating losses and negative operating cash flows to continue in the near term. A full-text copy of the Form 10-Q is available for free at: https://www.sec.gov/Archives/edgar/data/1838987/000121390026059082/ea0290489-10q_sunpower.htm About SunPower Inc. SunPower Inc. is a residential solar and energy services company headquartered in Orem, Utah. The company provides residential solar installation, storage and home energy solutions, battery storage solutions, and related services for homeowners and homebuilders in the United States and North America. SunPower manages customer experience and pre-construction activities, including hardware, engineering plans, and building permits, using in-house installation experts and local construction specialists. In an audit report dated April 14, 2026, BDO USA P.C. included a going concern uncertainty paragraph, stating that SunPower suffered recurring losses and had negative cash flows that raised substantial doubt about its ability to continue as a going concern. SUPERNOVA MANAGEMENT: Seeks to Hire Richie Brothers as Auctioneer ----------------------------------------------------------------- SuperNova Management, Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Richie Brothers as auctioneers. The firm will sell the Debtors' equipment at auction sale. The equipment includes: a) 2013 Mack truck - VIN #1M1AW07Y8DM030960 (no liens on title); b) Delivery truck 1 - 2012 International, VIN #1HTMMAAL8CH547112 (no liens on title); c) Delivery truck 2 - 2013 HINO, VIN #5PVNV8JV2D4S52718 (no liens on title); and d) Delivery truck 3 - 2014 FRHT, VIN #3ALACWDTXEDFR0443 (no liens on title). Richie Brothers charges a 10% commission on the gross sales proceeds. As disclosed in the court filing, C&D is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Ritchie Bros. Auctioneers, Inc. 15500 Eastex Frwy Humble, TX 77396 Telephone: (713) 455-5200 About SuperNova Management Inc. SuperNova Management, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 26-32616) on April 14, 2026. In the petition signed by Martin Abrahams, manager, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Judge Eduardo V. Rodriguez oversees the case. Reese Baker, Esq., at Baker & Associates, represents the Debtor as legal counsel. SURF CLEAN: Hires Cullen and Dykman LLP as Bankruptcy Counsel ------------------------------------------------------------- Surf Clean Energy Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire Cullen and Dykman, LLP as counsel. The firm's services include: a. advising Surf Clean with respect to its powers and duties in the continued operation of its business and management of its property as debtor and debtor-in-possession; b. representing Surf Clean before this Court, and any other court of competent jurisdiction, on matters pertaining to its affairs as debtor and debtor-in-possession, including prosecuting and defending litigated matters that may arise during this Subchapter V case; c. advising and assisting Surf Clean in preparation and negotiation of a plan of reorganization with its creditors and other parties in interest; d. preparing all necessary or appropriate applications, motions, complaints, answers, reports and other legal documents; e. performing all other legal services for Surf Clean that may be desirable and necessary in this Subchapter V case; and f. taking all necessary actions to protect and preserve the value of the estate of Surf Clean and other related matters. C&D's current non-discounted customary, hourly rates, are: C. Nathan Dee, Partner $735 Kelly McNamee, Associate $335 Members/Counsel $560 to $945 Associates $280 to $550 Paraprofessionals $150 to $280 Surf Clean paid C&D a retainer totaling $12,500 plus the filing fee for the Subchapter V case of $1,738. As disclosed in the court filing, C&D is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: C. Nathan Dee Cullen and Dykman, LLP 333 Earle Ovington Blvd. Uniondale, NY 11553 About Surf Clean Energy Inc. Surf Clean Energy Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-71015) on March 13, 2026, with $500,001 to $1 million in assets and $1 million to $10 million in liabilities. The petition was signed by Tyler Moston as chief executive officer. Judge Sheryl P Giugliano oversees the case. The Debtor is represented by C. Nathan Dee, Esq. at Cullen And Dykman, LLP. SURF CLEAN: Hires LaMonica Herbst & Maniscalco as General Counsel ----------------------------------------------------------------- Surf Clean Energy Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire LaMonica Herbst & Maniscalco, LLP as general counsel. The firm's services include: a. advising the Debtor in cash collateral, banking and related financing matters; and b. advising the Debtor in insurance matters. The firm will be paid at these rates: Partners $725 per hour Associates $475 per hour Paraprofessionals $225 per hour Prior to the Filing Date, the firm was paid the sum of $12,500 as a retainer. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Adam Wofse, Esq., a partner at LaMonica Herbst & Maniscalco, LLP, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Adam P. Wofse, Esq. Lamonica Herbst & Maniscalco, LLP 3305 Jerusalem Avenue, Suite 201 Wantagh, NY 11793 Telephone: (516) 826-6500 Email: awofse@lhmlawfirm.com About Surf Clean Energy Inc. Providing consultation, system design, installation, and monitoring for residential solar energy systems, Surf Clean Energy Inc. helps homeowners transition to renewable power. The company oversees the full solar installation process, including site assessments, permitting, and equipment deployment, while offering guidance on energy usage and solar technology. Founded by Tyler Moston, the firm began operations in New York and serves customers across several states, including New York, New Jersey, Illinois, and Florida. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-71015) on March 13, 2026, with $500,000 to $1 million in assets and $1 million to $10 million in liabilities. Tyler Moston, CEO, signed the petition. Judge Sheryl P. Giugliano presides over the case. C. Nathan Dee, Esq., at Cullen and Dykman, LLP represents the Debtor as legal counsel. TALPHERA INC: Sustains $2.6MM Q1 2026 Loss, Warns of Cash Crunch ---------------------------------------------------------------- Talphera, Inc. has filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting net losses for each of the three-month periods ended March 31, 2026 and 2025, of $2.6 million. The Company recorded no revenue for the three months ended March 31, 2026, compared to $27 thousand in the prior-year period. Liquidity and Going Concern As of March 31, 2026, the Company had cash, cash equivalents and investments totaling $21.1 million, compared to $20.4 million as of December 31, 2025. The Company's cash and investment balances are held in a variety of interest-bearing instruments. Cash in excess of immediate requirements is invested with a view toward capital preservation and liquidity. To date, the Company has incurred losses and generated negative cash flows from operations and expects to incur significant losses in 2026 and may incur significant losses and negative cash flows from operations in the future. Although the Company raised additional capital during the three months ended March 31, 2026 through the sale of common stock and pre-funded warrants in the third closing of its April 2025 private placement, considering its current cash resources and current and expected levels of operating expenses for the next 12 months, the Company expects to need additional capital to fund its planned operations prior to the 12-month anniversary of the filing date of the Company's Quarterly Report on Form 10-Q. The Company may seek to raise such additional capital through public or private equity offerings, the issuance of debt securities, a new debt facility, or entering into product development, license or distribution agreements with third parties. The Company's existing capital resources will not be sufficient to fund its operations until such time as it may be able to generate sufficient revenues to sustain its operations. While the Company believes its plans to raise additional funds will alleviate the conditions that raise substantial doubt about its ability to continue as a going concern, these plans are not entirely within its control and cannot be assessed as being probable of occurring. Additional funds may not be available when the Company needs them on terms that are acceptable to it, or at all. If adequate funds are not available, the Company may be required to further reduce its workforce, delay, reduce the scope of, or cease, the development of its product candidates in advance of the date on which its cash resources are exhausted to ensure that it has sufficient capital to meet its obligations and continue on a path designed to preserve stockholder value. In addition, if the Company raises additional funds through collaborations, strategic alliances or licensing arrangements with third parties, it may have to relinquish rights to its technologies, future revenue streams or product candidates, or to grant licenses on terms that may not be favorable to it. A full text copy of the Company's Form 10-Q is available at https://tinyurl.com/2dc2hvwr About Talphera Headquartered in San Mateo, California, Talphera, Inc. -- www.talphera.com -- is a specialty pharmaceutical company focused on the development and commercialization of innovative therapies for use in medically supervised settings. Talphera's lead product candidate, Niyad, is a lyophilized formulation of nafamostat and is currently being studied under an investigational device exemption (IDE) as an anticoagulant for the extracorporeal circuit, and has received Breakthrough Device Designation status from the U.S. Food and Drug Administration (FDA). Walnut Creek, Calif.-based BPM LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 23, 2026, citing that Company has suffered recurring operating losses and negative cash flows from operating activities since inception and expects to continue to incur operating losses and negative cash flows in the future. These matters raise substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $30.2 million in total assets, $11.7 million in total liabilities, and $18.5 million in total stockholders' equity. TB ENTERPISES: Commences Subchapter V Bankruptcy in Washington -------------------------------------------------------------- On May 12, 2026, TB Enterprises, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Western District of Washington. According to court filings, the debtor reports between $100,001 and $1 million in debt owed to between 1 and 49 creditors. A meeting of creditors filed by Caitlyn Myerson on behalf of United States Trustee under Section 341(a) to be held on June 16, 2026 at 10:00 AM via Telephonic Creditors Meeting Chapter 11. The deadline for filing the Chapter 11 Small Business Subchapter V plan is August 10, 2026. About TB Enterprises, LLC TB Enterprises, LLC operates in the food service and hospitality sector. The company sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11579) on May 12, 2026. In its petition, the debtor reported estimated assets ranging from $0 to $100,000 and estimated liabilities between $100,001 and $1 million. Honorable Bankruptcy Judge Timothy W. Dore handles the case. The debtor is represented by Jennifer L. Neeleman of Neeleman Law Group, P.C. TM36 LLC: Seeks to Hire Kroll Restructuring as Claims Agent ----------------------------------------------------------- TM36 LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Kroll Restructuring Administration LLC as claims, noticing, and solicitation agent. Kroll will oversee the distribution of notices and will assist in the maintenance, processing, and docketing of proofs of claim filed in the Chapter 11 cases of the Debtors. Kroll received an advance payment of $25,000 from the Debtors. Benjamin Steele, a managing director at Kroll, 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: Benjamin Steele Kroll Restructuring Administration LLC 55 East 52nd Street, 17th Floor New York, NY 10055 About TM36 LLC TM36, LLC StopLoss, LLC, StopLoss Logistics, LLC, StopLoss Specialists, LLC, and StopLoss Response Services, LLC provide emergency response and property restoration services focused primarily on large commercial buildings that have sustained significant disaster or weather-related damage. StopLoss LLC functions as the holding company for StopLoss Response Services, LLC, StopLoss Logistics, LLC, and TM36 LLC, while StopLoss Specialists, LLC holds contractor licenses and enters into project contracts. The subsidiaries support project execution through subcontracted restoration work, equipment logistics and transportation, and ownership of operational equipment. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 26-90386) on March 5, 2026. In the petition signed by Pablo Bonjour, chief restructuring officer, TM36 disclosed up to $10 million in both assets and liabilities. Judge Alfredo R. Perez oversees the cases. The Debtors tapped Aaron J. Power, Esq., at Porter Hedges, LLP, as bankruptcy counsel and Veritas Restructuring Group as financial advisor. TPI COMPOSITES: Court Okays Chapter 11 Plan of Two Affiliates ------------------------------------------------------------- Clara Geoghegan of Law360 reports that the two affiliates of TPI Composites Inc. won court approval Thursday for their Chapter 11 reorganization plan in Texas bankruptcy court, enabling the companies to proceed with an equity sale tied to the restructuring process. The plan also incorporates a negotiated settlement between the debtors’ secured lender and the unsecured creditors committee. The compromise resolved disputes surrounding the allocation of value and creditor recoveries, paving the way for confirmation of the restructuring proposal, the report states. With the plan now approved, the debtor entities can move ahead with the ownership transaction and emerge from bankruptcy under a revised financial structure. The development reflects continued restructuring activity in the wind energy supply chain as manufacturers confront operational and market-related challenges, according to report. About TPI Composites TPI Composites -- https://tpicomposites.com/ -- is a leading wind-blade manufacturer and the only independent wind blade manufacturer with a global footprint. On Aug. 11, 2025, TPI Composites, Inc. and several subsidiaries sought Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 25-34655). TPI disclosed $591,709,000 in total assets against $1,077,146,000 in total debt as of June 30, 2025. Bankruptcy Judge Christopher M. Lopez handles the case. Weil, Gotshal & Manges LLP is serving as legal counsel, Jefferies LLC. is serving as financial advisor, and Alvarez & Marsal North America, LLC is serving as restructuring advisor to TPI. Kroll is the claims agent. Sullivan & Cromwell LLP and Moelis & Company are serving as advisors to senior secured lenders. Bracewell, LLP, is advising Oaktree Capital Management L.P., as DIP agent. The official committee of unsecured creditors retained Lowenstein Sandler LLP as counsel, Munsch Hardt Kopf & Harr, P.C. as co-counsel, and Berkeley Research Group, LLC as its financial advisor. TRAVELZOO: Liabilities Exceed Assets by $8.3M at March 31 --------------------------------------------------------- Travelzoo's stockholder's deficit was US$8.3 million at March 31, 2026. The stockholder's deficit was US$7.5 million at Dec. 31, 2025. At March 31, 2026, the Company had total assets of US$51.0 million and total liabilities of US$54.0 million. At Dec. 31, 2025, the Company had total assets of US$45.2 million and total liabilities of US$47.6 million. As of March 31, 2026, the Company had $10.6 million in cash and cash equivalents, of which $7.4 million was held outside the U.S. in its foreign operations. If this cash is distributed to the U.S., the Company may be subject to additional foreign withholding taxes in certain circumstances. The Company also had $754,000 in restricted cash held in the U.S. and U.K. as of March 31, 2026. The Company said: "Cash, cash equivalents and restricted cash increased $562,000 from $10.8 million as of December 31, 2025 to $11.3 million as of March 31, 2026, primarily due to $3.9 million cash provided by operating activities, partially offset by $3.3 million cash used to repurchase common stock." "As of March 31, 2026, we had merchant payables of $13.5 million related to unredeemed vouchers. In the Company's financial statements presented in this 10-Q report, following U.S. generally accepted accounting principles ("GAAP"), we classified all merchant payables as current. When all merchant payables are classified as current, there is negative net working capital (which is defined as current assets minus current liabilities) of $10.8 million. Payables to merchants are generally due upon redemption of vouchers. As of March 31, 2026, unredeemed vouchers have maturities through March 2026; however, expiration dates may be extended on a case-by-case basis and final payment to merchants upon expiration may not be due for up to a year after. Based on current projections of redemption activity, we expect that cash on hand as of March 31, 2026 will be sufficient to provide for working capital needs for at least the next twelve months." As of March 31, 2026, and Dec. 31, 2025, the Company had approximately $3.4 million and $2.9 million of unredeemed vouchers that had been sold, respectively, representing the Company's commission. The Company estimates a refund reserve using historical and current refund rates by product and by merchant location to calculate estimated future refunds. The Company estimated and recorded a refund reserve of $283,000 and $188,000 as of March 31, 2026, and Dec. 31, 2025, respectively, for these unredeemed vouchers which is recorded as a reduction of revenues on the condensed consolidated statements of operations, and accrued expense and other on the condensed consolidated balance sheet. Merchant payables of $13.5 million as of March 31, 2026, related to unredeemed vouchers is recorded on the condensed consolidated balance sheet, representing amounts payable to merchants by the Company for vouchers sold but not redeemed. Certain merchant contracts, typically in foreign locations, allow the Company to retain the proceeds from unredeemed vouchers upon expiration. With these contracts, the Company estimates the value of vouchers that will ultimately not be redeemed and records the estimate as revenues in the same period. The Company said: "Although we currently believe we have sufficient capital resources to meet our anticipated working capital and capital expenditure requirements for at least the next twelve months, unanticipated events and opportunities or a less favorable than expected development of our business with one or more advertising formats may require us to sell additional equity or debt securities or establish credit facilities to raise capital in order to meet our capital requirements." A full-text copy of the Form 10-Q is available at https://tinyurl.com/4aseuxdy About Travelzoo Travelzoo (NASDAQ: TZOO) is a global Internet media company that operates platforms such as Travelzoo(R), a club for travel enthusiasts, and Jack's Flight Club(R), a subscription service offering information on exceptional airfares. The Company primarily generates revenue through advertising and membership fees, targeting consumers interested in travel deals and experiences. TREEO'S TREE: Taps Professional Accounting Services as Accountant ----------------------------------------------------------------- Treeo's Tree Service, Inc. filed an amended application seeking approval from the U.S. Bankruptcy Court for the Eastern District of Wisconsin to hire Sonia Sasman d/b/a Professional Accounting Services as accountant. The firm will render these services: a. prepare and file W2s and the corporate and personal tax returns for the Debtors (2025 W2s were sent out pre-petition but the 2025 tax returns are on an extension, needing to be filed); b. assist the Debtors' bookkeeper as needed with bookkeeping maintenance and answers to accounting questions; and c. assist as needed with monthly operating reports and other issues specific to the Chapter 11 cases. The hourly rate for said professional services shall be $1,000 for the corporate returns, $800 for the personal returns plus any additional hourly work related to the Debtor's LLC information in the personal return, handling miscellaneous questions, and assisting with bookkeeping and operating report / chapter 11 issues, with all hourly work charged at $100 per hour. As disclosed in the court filings, Professional Accounting Services does not hold any interest adverse to the Debtor and is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Sonia Sasman Professional Accounting Services 1932 Sky Drive Clearwater, FL 33755 Phone: (920) 538-0265 About Treeo's Tree Service, Inc. Treeo's Tree Service, Inc. provides outdoor property services including tree trimming, tree removal, stump grinding, lawn care, landscaping, and commercial snow removal. The company has operated since 2007 and is based in Menasha, Wisconsin. It serves Northeast Wisconsin, including commercial properties and municipalities, and provides 24/7 emergency services for storm and hazardous tree removal. Treeo's Tree Service, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Wis. Case No. 26-22563) on May 5, 2026, listing $1,750,589 in assets and $1,213,608 in liabilities. The petition was signed by Mark Caswell as president. Judge Rachel M Blise presides over the case. John W. Menn, Esq. at SWANSON SWEET LLP serves as the Debtor's counsel. TRINSEO PLC: Signs RSA With Key Lenders to Reduce Debt by $2BB -------------------------------------------------------------- Trinseo PLC announced the Company and certain of its subsidiaries and affiliates entered into a Restructuring Support Agreement with certain holders representing a majority of the Company Parties' prepetition funded indebtedness, pursuant to which the Company Parties intend to implement a comprehensive restructuring of their existing capital structure that will discharge and release approximately $2.0 billion of the Company Parties' prepetition funded indebtedness (which is expected to reduce annual interest expense by approximately $140 million) in exchange for certain recoveries set forth in the Restructuring Support Agreement and further described below. The Restructuring Support Agreement contemplates effectuating the Restructuring Transactions through a joint Chapter 11 plan of reorganization to be filed by the applicable Company Parties in cases to be commenced under Chapter 11 of Title 11 of the United States Code in the United States Bankruptcy Court for the Southern District of Texas. Pursuant to the Restructuring Support Agreement, supporting senior lenders have committed to support and vote for the Plan and use commercially reasonable efforts to consummate and complete the Restructuring Transactions. The Company Parties do not expect any operational impact from the Restructuring Transactions and plan to continue to operate and serve customers and pay vendors and employees in the ordinary course of business as "debtors-in-possession" under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court. Existing lenders will initially receive 100% of the reorganized Company's equity interests through the Restructuring Transactions. Holders of the Company's Existing Equity Interests will have their equity interests cancelled and will receive no recovery. Restructuring Support Agreement The Company Parties entered into the Restructuring Support Agreement with: * Supporting Super HoldCo 1L Lenders holding approximately 98.0% of the aggregate outstanding principal amount of Super HoldCo 1L Claims under the Credit Agreement dated September 8, 2023 and 100% of the OpCo InterCompany Term Loans; * Supporting RCF Lenders holding approximately 100% of the aggregate outstanding principal amount of RCF Claims under the Credit Agreement dated January 17, 2025; and * Supporting OpCo 2028 Term Lenders holding approximately 57.2% of the aggregate outstanding principal amount of OpCo 2028 Term Loan Claims under the Credit Agreement dated September 6, 2017. The Restructuring Support Agreement contemplates the Restructuring Transactions through the cancellation, discharge and release of the Company Parties' prepetition funded indebtedness in exchange for the recoveries set forth in the Restructuring Term Sheet, including, as applicable, reorganized common interests, cash, subscription rights and takeback term loans, to be effectuated through the Plan. In connection with the Restructuring Transactions, trade creditors and all other non-funded-debt General Unsecured Claims will be treated as Unimpaired. Holders of the Company's Existing Equity Interests will have their equity interests cancelled and will receive no recovery. Commitments and Representations. Each of the Company Parties, the Supporting Super HoldCo 1L Lenders, the Supporting RCF Lenders and the Supporting OpCo 2028 Term Lenders have made certain customary commitments and representations in the Restructuring Support Agreement. The Company Parties have agreed, among other things, to support and take all commercially reasonable actions necessary and appropriate to facilitate the Restructuring Transactions, meet the milestones set forth in the Restructuring Support Agreement and obtain required regulatory approvals for the Restructuring Transactions. The Supporting Creditors have committed to the Company Parties, among other things, to support and vote for the Plan, use their commercially reasonable efforts to consummate and complete the Restructuring Transactions, consent to the incurrence of the DIP Facilities and the Company Parties' use of cash collateral, and forbear from exercising remedies during the support period. Milestones. The Restructuring Support Agreement contains milestones relating to the Chapter 11 Cases, which include the dates by which the Company Parties are required to, among other things, file certain motions and documents (including the Plan and Disclosure Statement) with the Bankruptcy Court, obtain certain orders of the Bankruptcy Court and consummate the Company Parties' emergence from Chapter 11 protection. Among other dates set forth in the Restructuring Support Agreement, the Restructuring Support Agreement contemplates that the Company Parties: * commence the Chapter 11 Cases no later than May 25, 2026; * obtain entry of the Interim DIP Order no later than four calendar days following the Petition Date; obtain entry of the Solicitation Procedures Order and conditional approval of the Disclosure Statement no later than four (4) Business Days following the Petition Date; * obtain entry of the Final DIP Order no later than 35 calendar days following the Petition Date; * obtain entry of the Confirmation Order no later than 60 calendar days following the Petition Date; and * cause the Plan Effective Date to occur on or before the Outside Date (defined as 180 days after the Petition Date, subject to extension for up to 90 days if the Plan Effective Date has not occurred solely because of outstanding Regulatory Approvals and all other conditions to the Plan Effective Date have been satisfied). Termination. Each of the parties to the Restructuring Support Agreement may terminate the agreement (and thereby their support for the Plan) under certain limited circumstances, subject, in certain cases, to cure rights. The Company Parties may terminate the Restructuring Support Agreement upon, among other circumstances: * certain material breaches of the Restructuring Support Agreement by the Supporting Creditors (provided that the Company Parties shall not have the right to terminate if the non-breaching Supporting Creditors still hold at least 66.7% of each of the Super HoldCo 1L Claims and the RCF Claims and at least 50.1% of the OpCo 2028 Term Loan Claims); * the failure of the Equity Rights Offering Commitment Parties to fund the Equity Rights Offering; a Company Party's board determining in good faith, upon the advice of outside counsel, that continued performance under the Restructuring Support Agreement would be inconsistent with applicable law or its fiduciary duties; or * certain actions by the Bankruptcy Court, including converting the Chapter 11 Cases to cases under Chapter 7 of the Bankruptcy Code, dismissing the Chapter 11 Cases or appointing an examiner or trustee. The Requisite Supporting Senior Creditors have termination rights that may be exercised upon, among other circumstances: * the breach in any material respect by any Company Party of its covenants, obligations, representations, or warranties contained in the Restructuring Support Agreement that has a material adverse effect on the Requisite Supporting Senior Creditors and remains uncured for ten Business Days; * the failure to meet a Milestone that has not been waived or extended, where such failure is not the result of any act, omission or delay by the terminating Supporting Senior Creditors in breach of their obligations under the Restructuring Support Agreement; * certain actions by the Bankruptcy Court, including preventing the consummation of the Restructuring Transactions, dismissing the Chapter 11 Cases or converting any of the Chapter 11 Cases into a case under Chapter 7 of the Bankruptcy Code; * or a Company Party's determination to exercise a fiduciary out. The Requisite Supporting OpCo 2028 Term Lenders have termination rights that may be exercised upon, among other circumstances: the breach in any material respect by any Company Party of its covenants, obligations, representations, or warranties contained in the Restructuring Support Agreement that has a material adverse effect on the Requisite Supporting OpCo 2028 Term Lenders and remains uncured for ten Business Days; certain actions by the Bankruptcy Court, including preventing the consummation of the Restructuring Transactions, dismissing the Chapter 11 Cases or converting any of the Chapter 11 Cases into a case under Chapter 7 of the Bankruptcy Code; or a Company Party's determination to exercise a fiduciary out. The Restructuring Support Agreement will terminate automatically upon the Plan Effective Date and may be terminated by mutual written agreement of the Company Parties, the Requisite Supporting Senior Creditors and the Requisite Supporting OpCo 2028 Term Lenders. Consummation. Consummation of the Restructuring Transactions contemplated by the Restructuring Support Agreement is subject to approval of the Plan by the Bankruptcy Court, required regulatory approvals (including antitrust clearance in the United States, Germany, South Korea, the European Commission and Sweden, and foreign investment clearance in France and Italy), satisfaction of the conditions to the Plan Effective Date, and completion of any Irish law implementation steps. Accordingly, no assurance can be given that the transactions described therein will be consummated. Material Terms of the Restructuring Transactions DIP Facilities. The Restructuring Support Agreement contemplates senior secured debtor-in-possession term loan facilities, consisting of: * the OpCo DIP Facility, in the aggregate principal amount of $270.0 million, to be provided to the OpCo Debtors (as defined in the Restructuring Support Agreement) by the Supporting RCF Lenders (as defined in the Restructuring Support Agreement); and * the Super HoldCo DIP Facility, in the aggregate principal amount of $157.5 million, to be provided to the Super HoldCo Debtors by the Supporting Super HoldCo 1L Lenders. The DIP Facilities will be used to fund the Debtors' operations during the Chapter 11 Cases. Equity Rights Offering. The Restructuring Support Agreement contemplates a $450 million equity rights offering, pursuant to which certain holders of Claims will be offered the right to purchase Reorganized Common Interests. The Equity Rights Offering Commitment Parties, consisting of the Supporting OpCo 2028 Term Lenders and the Supporting Super HoldCo 1L Lenders, have agreed to fully backstop the Equity Rights Offering pursuant to the terms of the Equity Rights Offering Commitment Letters. Exit Financing. The Restructuring Support Agreement contemplates that, on the Plan Effective Date, the Reorganized Debtors (as defined in the Restructuring Support Agreement) will enter into: a revolving credit facility in an aggregate principal amount of at least $200 million; and a term loan facility in an aggregate principal amount of $850 million, in each case, on terms consistent with the Restructuring Term Sheet. Postpetition A/R Facility. The Restructuring Support Agreement contemplates that the Company Parties will enter into a $150 million accounts receivable facility to provide additional liquidity during the Chapter 11 Cases. InterCompany Settlement. The Restructuring Transactions include a settlement of all potential claims directly or indirectly related to the OpCo InterCompany Term Loans between the OpCo Company Parties, on one hand, and the OpCo InterCompany Term Lender, on the other hand, including the allowance of the OpCo 2028 Term Loan Claim held by certain of the Super HoldCo Company Parties in the aggregate principal amount of approximately $1.5 billion, plus all accrued interest as of the Petition Date. Corporate Governance. Reorganized Parent will be a newly formed Delaware limited liability Company. The New Corporate Governance Documents will contain customary protections for minority equity holders, including board appointment rights. Irish Process. The Restructuring Support Agreement contemplates that the Restructuring Transactions may be implemented in part through an Irish examinership, liquidation, scheme of arrangement, receivership or other process under Irish law by or in respect of Trinseo PLC or any other Company Party in furtherance of the Restructuring Transactions. Revolver Amendment On May 13, 2026, Trinseo Luxco S.a r.l., Trinseo Holding S.a r.l., and Trinseo Materials Finance, Inc., entered into an amendment to the credit agreement governing the Company's super priority revolving credit facility, dated as of January 17, 2025, by and among Trinseo Luxco, the Borrowers, the guarantors party thereto from time to time, the lenders party thereto from time to time, and Deutsche Bank AG New York Branch, as administrative agent and collateral agent. Pursuant to the Third Amendment, certain lenders agreed to provide incremental senior-secured revolving credit commitments to the Borrowers under the SuperPriority Revolver in an aggregate principal amount of $25,000,000. Borrowings under the 2026 May Incremental Revolving Facility may be used to fund working capital, for general corporate purposes, and for any other purposes not prohibited by the SuperPriority Revolver. Amounts borrowed under the 2026 May Incremental Revolving Facility and repaid may not be reborrowed. The entire outstanding principal amount (if any) of the 2026 May Incremental Revolving Facility is due and payable at maturity thereof. The 2026 May Incremental Revolving Facility is scheduled to mature on February 2, 2028. The full amount of the 2026 May Incremental Revolving Facility was drawn on May 13, 2026. The Borrowers made a borrowing of revolving loans under the 2026 May Incremental Revolving Facility in an aggregate principal amount of $25,000,000. The revolving loans under the 2026 May Incremental Revolving Facility bear interest at a rate per annum equal to, at the Borrowers' election, either: * a Term SOFR based rate (subject to a 0.00% floor), plus an applicable margin of 9.00%; or * an alternate base rate (subject to a 0.00% floor), plus an applicable margin of 8.00%. Interest payments under the 2026 May Incremental Revolving Facility are payable in kind on the applicable payment date thereof. In addition, the 2026 May Incremental Revolving Facility provides for a quarterly unused line fee on the unused portion of the 2026 May Incremental Revolving Facility, at a rate per annum equal to 0.375%. In connection with the Third Amendment, the Borrowers agreed to pay a closing fee to the 2026 May Incremental Revolving Credit Lenders, payable in-kind by capitalizing and adding such fee to the outstanding principal balance of the 2026 May Incremental Revolving Credit Loans, in an amount equal to 3.50% of the aggregate amount of the 2026 May Incremental Revolving Commitments. The obligations of each Borrower under the 2026 May Incremental Revolving Facility are guaranteed by the same guarantors, and secured by the same collateral as the existing revolving facility under the SuperPriority Revolver. The 2026 May Incremental Revolving Facility is subject to substantially the same terms as the existing revolving facility under the SuperPriority Revolver, including with respect to representations and warranties, mandatory prepayments, affirmative and negative covenants, and events of default. Senior Credit Facility Amendment On May 13, 2026, Trinseo Luxco, Trinseo Holding, and Trinseo Materials Finance, Inc., entered into an amendment to that certain Credit Agreement, dated as of September 6, 2017, by and among Trinseo Luxco, the Borrowers, the guarantors party thereto from time to time, the lenders party thereto from time to time, and Alter Domus (US) LLC, as administrative agent, pursuant to which the Consenting Lenders (as defined in the Second Amendment, constituting Required Lenders under the Senior Credit Agreement) agreed to amend certain provisions of the Senior Credit Agreement, including amending the Senior Credit Agreement to increase the cap on aggregate principal amount of loans outstanding under the Superpriority Credit Agreement (as defined in the Senior Credit Agreement) from $350,000,000 to $375,000,000 (excluding amounts paid in kind). Additional Information The full text of the Restructuring Support Agreement is available at https://tinyurl.com/mr2t2wpf. The complete terms of the Third Amendment and the Second Amendment are available at https://tinyurl.com/mrubzbhs and https://tinyurl.com/2pydzc57, respectively. This Current Report does not constitute an offer to sell or buy, or the solicitation of an offer to sell or buy, any securities, nor does it constitute a solicitation of acceptances or rejections of any Chapter 11 plan of reorganization within the meaning of Section 1125 of the Bankruptcy Code. Any solicitation or offer will be made only in compliance with applicable securities laws and/or the provisions of the Bankruptcy Code. About Trinseo PLC 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. PricewaterhouseCoopers LLP, the Company's independent registered public accounting firm since 2017 and headquartered in Philadelphia, Pennsylvania, included an explanatory paragraph in its audit report dated March 13, 2026, expressing substantial doubt about the Company's ability to continue as a going concern. The auditor cited that the Company's accumulated deficit and negative cash flows from operations raise substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had $2.3 billion in total assets and $3.4 billion in total liabilities, and total stockholders' deficit of $1.1 billion. * * * In December 2025, S&P Global Ratings lowered its Company credit rating on specialty materials solutions provider Trinseo PLC to 'CCC' from 'CCC+', its issue-level rating on its senior secured super-priority revolving credit facility (RCF) and senior secured term loan to 'B-' from 'B', its issue-level rating on its senior secured term loan B to 'CCC' from 'CCC+', and its issue-level rating on its senior secured second-lien notes to 'CC' from 'CCC-'. S&P's recovery ratings on the Company's debt are unchanged. TRIPLE STICKS: Hires Commercial Auction Network as Auctioneer ------------------------------------------------------------- Triple Sticks Foods, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Illinois to hire Commercial Auction Network LLC as auctioneer. The firm will market and sell the equipment and personal property utilized in the operation of the Debtor's business. The firm will be paid at these fees: (i) a commission of 6% of the final hammer price of assets sold after reimbursement of any out of pocket expenses, (ii) a $6,500 fee for marketing costs and (iii) a $2,000 fee for labor expenses. A buyer's premium of 12% percent will also be charged but is not an expense borne by the Debtor. Commercial Auction Network LLC is a "disinterested person" as that phrase is defined in Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached through: Bill Cockrum Commercial Auction Network LLC 122 S. Michigan Avenue, Suite 1390-A63 Chicago, IL 60603 Phone: (872) 444-2744 About Triple Sticks Foods, LLC Triple Sticks Foods, LLC is a Belleville, Illinois-based frozen food manufacturer that produces ready-to-eat sandwiches and other handheld food products, operating a production facility equipped with automated assembly and blast-freezing capabilities to support large-scale output. Founded in 2017, the company provides co-manufacturing and private-label services to foodservice operators and retail brands, including school meal programs. Triple Sticks Foods, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Ill. Case No. 26-30341) on April 16, 2026. At the time of the filing, Debtor had estimated assets of between $1,000,001 and $10 million and liabilities of between $10,000,001 and $50 million. Judge not specified oversees the case. Spencer Fane LLP is Debtor's legal counsel. TRIVISTA OIL: Seeks to Hire Rosen Systems Inc. as Auctioneer ------------------------------------------------------------ Trivista Oil Co., LLC and Trivista Operating LLC seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Rosen Systems, Inc. as auctioneer. The firm will market and sell the Debtors' vehicles. The firm will receive these fees: a. a fifteen percent (15%) buyer's premium on all Assets sold by the auction; and b. reimbursement of reasonable expenses associated with the sale of the Assets, including costs associated with moving, insuring, storing, and marketing, up to $10,000. As disclosed in the court filing, Rosen Systems, Inc. is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Kyle Rosen Rosen Systems Inc. 2323 Langford St Dallas, TX 75208 Phone: (832) 423-1812 Email: kyle@rosensystems.com About Trivista Oil Co. LLC Trivista Oil Co., LLC is an oil-sector company focused on energy-related business activities in the United States. Trivista Oil Co., LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-32229) on April 2, 2026. The petition lists estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. The case is being handled by Honorable Bankruptcy Judge Jeffrey P. Norman. The debtor is represented by R. J. Shannon, Esq., of Shannon Lee Beatty, LLP. TURK INDUSTRIES: Case Summary & 16 Unsecured Creditors ------------------------------------------------------ Debtor: Turk Industries, LLC f/k/a Delta Industries LLC 515 Windy Hill RD Smyrna, GA 30080 Business Description: Turk Industries, LLC, operates fast-food restaurant locations in Georgia, providing quick-service sandwiches and related food offerings. Chapter 11 Petition Date: May 20, 2026 Court: United States Bankruptcy Court Northern District of Georgia Case No.: 26-56701 Debtor's Counsel: Paul Reece Marr, Esq. PAUL REECE MARR, P.C. 6075 Barfield Road, Suite 213 Sandy Springs, GA 30328-4402 Tel: (770) 984-2255 Email: paul.marr@marrlegal.com Estimated Assets: $50,000 to $100,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Lowette Swinton as CEO. A full-text copy of the petition, which includes a list of the Debtor's 16 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/3NFQQBY/Turk_Industries_LLC__ganbke-26-56701__0001.0.pdf?mcid=tGE4TAMA TURNONGREEN INC: Posts $773K Loss in Q1; Going Concern Persists --------------------------------------------------------------- TurnOnGreen, Inc. has filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting a net loss of $773 thousand for the three months ended March 31, 2026, compared to a net loss of $541 thousand for the same period in the prior year. Revenues for the three months ended March 31, 2026 were $1.7 million, compared to $1.6 million in the prior-year period. As of March 31, 2026, we had cash and cash equivalents of $.0.1 million and negative working capital of $9 million. The Company has incurred recurring operating and net losses that have not provided sufficient cash flows. Management believes that the Company will continue to incur operating and net losses each quarter until at least the time it begins significant deliveries of its products. The Company's inability to continue as a going concern could have a negative impact on the Company, including its ability to obtain needed financing. In view of these matters, there is substantial doubt about the Company's ability to continue as a going concern. The Company intends to finance its future development activities and its working capital needs largely through advances from Hyperscale Data, Inc. until such time as funds provided by operations are sufficient to fund working capital requirements. Although management believes that capital sources will be available, there can be no assurances that Hyperscale will continue providing financing to the Company when needed to allow the Company to continue its operations, or if available, on terms acceptable to the Company. A full text copy of the Company's Form 10-Q is available at https://tinyurl.com/5y99vxr7 About TurnOnGreen Inc. TurnOnGreen, Inc. (formerly known as Imperalis Holding Corp.), a Nevada corporation, through its wholly owned subsidiaries Digital Power Corporation and TOG Technologies Inc., is engaged in the design, development, manufacture, and sale of highly engineered, feature-rich, high-grade power conversion and power system solutions for mission-critical applications and processes. New York, NY-based CBIZ CPAs P.C., the Company's auditor since 2021. (such date takes into account the acquisition of the attest business of Marcum llp by CBIZ CPAs P.C. effective November 1, 2024), issued a "going concern" qualification in its report dated March 31, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has a significant working capital deficiency, has incurred significant losses and needs to raise additional funds to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $5 million in total assets, $13.6 million in total liabilities, and $33.6 million in total stockholders' deficit. UBS ASSOCIATES: Claims to be Paid from Disposable Income -------------------------------------------------------- UBS Associates, LLC filed with the U.S. Bankruptcy Court for the Eastern District of Pennsylvania a Small Business Plan of Reorganization under Subchapter V dated May 13, 2026. The Debtor is a general contractor, home remodeling and home repair company. The Debtor entered into multiple MCA agreements that caused sufficient harm to the Debtor's weekly and monthly cash flow. Two of the MCA lenders filed lawsuits against the Debtor and sought to collect A/R from Debtor's customers. Debtor also incurred over $1 million in unsecured debt and needs relief from these debts. The Debtor was prohibited from paying post-petition payments to its secured creditors due the creditor's refusal to accept payments or allow Debtor to access its on-line accounts. If the secured lenders had allowed Debtor to pay post-petition payments, there would be funds available for unsecured creditors. As such, all of Debtor's monthly disposable income pursuant to this proposed plan, will be used to pay secured creditors' post petition arrears. The Debtor has significant income from large construction and rehabilitation insurance funded projects. The Debtor believes this proposed Plan of Reorganization is fair and equitable based on the Debtor's projected disposable income and thus, entirely feasible. The Debtor's Monthly Disposable Income allows for the payment of all secured, priority, administrative and undisputed secured claims to be paid in full. Non-priority unsecured creditors holding allowed claims will NOT receive ANY distributions under this proposed plan. All priority administration claims shall be paid in full according to the Plan. Class 3 consists of All Non-priority Unsecured Claims. No Unsecured Claims are being paid through the Plan. The Debtor's principal will maintain his equity ownership in the reorganized debtor. The Debtor will fund the Plan from the income from its regular home income. A full-text copy of the Plan of Reorganization dated May 13, 2026 is available at https://urlcurt.com/u?l=qq8PNF from PacerMonitor.com at no charge. The firm can be reached through: Maggie S. Soboleski, Esq. Center City Law Offices, LLC 1632 Ellsworth Street Philadelphia, PA 19107 Tel: (215) 820-2132 Fax: (215) 977-9644 About UBS Associates LLC UBS Associates, LLC, is a general contractor, home remodeling and home repair company. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Pa. Case No. 26-10564) on Feb. 12, 2026, with up to $50,000 in assets and liabilities. Judge Patricia M. Mayer presides over the case. Maggie S. Soboleski, is the Debtor's legal counsel. UPTOWN PHARMACY: Hires Teresa Fuller Accounting as Accountant ------------------------------------------------------------- Uptown Pharmacy of Kingman, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Arizona to employ Teresa Fuller Accounting & Bookkeeping Services to perform specified accounting and tax preparation services. The professional services anticipated to be rendered include preparation of the Debtor's 2025 tax returns and limited accounting services, as needed. The bookkeeper will charge a flat fee of $500 for preparation of the 2025 tax return, and $100 per hour for accounting services. As disclosed in the court filing, Teresa Fuller Accounting & Bookkeeping Services is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Teresa Fuller Teresa Fuller Accounting & Bookkeeping Services 1415 E Andy Devine Ave Kingman, AZ 86401 Phone: (928) 757-3390 About Uptown Pharmacy of Kingman Inc. Uptown Pharmacy of Kingman, Inc., a company based in Golden Valley, Arizona, operates a community pharmacy providing prescription and over-the-counter medications, immunizations, point-of-care testing, medication therapy management, compounding, and durable medical equipment. It also offers flu clinics at business locations, travel vaccinations, telemedicine consultations, and health screenings, and accepts insurance or provides cash pricing for uninsured patients. Uptown Pharmacy, established in 1963, provides pharmacy services to Kingman and neighboring areas. Uptown Pharmacy of Kingman filed Chapter 11 bankruptcy petition (Bankr. D. Ariz. Case No. 0:25-bk-12678) on Dec. 31, 2025, listing between $50,001 and $100,000 in assets and $1 million and $10 million in liabilities. Judge Paul Sala oversees the case. The Debtor is represented by Krystal M. Ahart, Esq. at Kahn & Ahart, PLLC. US MAGNESIUM: Plan Confirmation Hearing Scheduled for June 16 ------------------------------------------------------------- On May 8, 2026, the United States Bankruptcy Court for the District of Delaware entered an order (the "Solicitation Procedures Order"), which, among other things, approved, on an interim basis, the Official Committee of Unsecured Creditors’ Modified Amended Combined Disclosure Statement and Plan of Liquidation of US Magnesium LLC Under Chapter 11 of the Bankruptcy Code (as may be amended, modified, or supplemented, the "Combined Disclosure Statement and Plan") filed by the Official Committee of Unsecured Creditors (the "Committee" or "Plan Proponent") in this Chapter 11 Case. Copies of the Solicitation Procedures Order and the Combined Disclosure Statement and Plan may be obtained free of charge at the website maintained by Stretto, Inc. (the "Voting Agent") at https://cases.stretto.com/usmagnesium/; or by contacting the Voting Agent via email at TeamUSMagnesium@stretto.com; or by phone at (833) 836-1881 (Domestic) or (949) 617-1778 (International). Combined Hearing A hearing (the "Combined Hearing") to consider (a) final approval of the Combined Disclosure Statement and Plan as containing adequate information and (b) confirmation of the Combined Disclosure Statement and Plan will be held before The Honorable Brendan L. Shannon at the Bankruptcy Court, 824 North Market Street, Wilmington, Delaware 19801, on June 16 2026, at 10:00 a.m. (prevailing Eastern Time). The Combined Hearing may be continued from time to time without further notice other than the announcement by the Plan Proponent in open court of the adjourned date(s) at the Combined Hearing or as indicated in any agenda of matters scheduled for hearing filed with the Bankruptcy Court. Voting Deadline Only Claimholders in Class 3, Class 4, Class 5, Class 6, and Class 7 (collectively, the "Voting Classes") will be entitled to vote to accept or reject the Combined Disclosure Statement and Plan. Claimholders in Classes 1 and 2 are Unimpaired and presumed to accept the Combined Disclosure Statement and Plan. Holders of Interests in Class 8 are Impaired and deemed to reject the Combined Disclosure Statement and Plan. a. If you are a Claimholder of the Debtor as of May 7, 2026, at 4:00 p.m. (ET) (the "Voting Record Date"), and in one or more of the Voting Classes, the deadline by which ballots accepting or rejecting the Combined Disclosure Statement and Plan must be actually received is June 5, 2026 at 4:00 p.m. (prevailing Eastern Time) (the "Voting Deadline"). b. If you are in one or more of the Voting Classes, for your vote to be counted, your Ballot must be properly completed, signed, and returned so that it is actually received by the Voting Agent before the Voting Deadline, unless extended in writing by the Plan Proponent. The Ballot must be returned to the Voting Agent at the following address: if by mail: US Magnesium LLC, Ballot Processing, c/o Stretto, 410 Exchange, Suite 100, Irvine, CA 92602. In addition, Ballots will be accepted if properly completed through the online balloting portal maintained by the Voting Agent at: https://cases.stretto.com/usmagnesium/court-docket/. BALLOTS WILL NOT BE ACCEPTED BY TELECOPY, FACSIMILE, E-MAIL, OR OTHER ELECTRONIC MEANS OF TRANSMISSION, OTHER THAN THE ONLINE BALLOTING PORTAL MAINTAINED BY THE VOTING AGENT. Rule 3018 Motions If you wish to challenge the classification or voting amount of your claim, you must file a Rule 3018 Motion for an order temporarily allowing your Claim in a different classification or amount for purposes of voting to accept or reject the Combined Disclosure Statement and Plan and serve such motion on the Notice Parties listed below so that it is received by May 20, 2026 at 4:00 p.m. (prevailing Eastern Time). Objections to Confirmation The deadline for filing objections to final approval and confirmation of the Combined Disclosure Statement and Plan is June 5, 2026 at 4:00 p.m. (prevailing Eastern Time) (the "Objection Deadline"). Any objection must (a) be in writing, (b) comply with the Bankruptcy Rules and the Local Rules, and (c) be filed with the Bankruptcy Court and served upon the following parties: (i) counsel to the Debtor: Gellert, Seitz, Busenkell & Brown LLC, 1201 N. Orange Street, Suite 300, Wilmington, DE 19801, Attn: Michael Busenkell (mbusenkell@gsbblaw.com); (ii) counsel to the Official Committee of Unsecured Creditors: (a) Eversheds Sutherland (US) LLP, 600 Peachtree Street NE, Suite 5200, Atlanta, GA 30308, Attn: Todd C. Meyers (toddmeyers@eversheds-sutherland.com) and Danielle Barav-Johnson (dahnibarav-johnson@eversheds-sutherland.com), and (b) Cole Schotz P.C., 500 Delaware Avenue, Suite 600, Wilmington, DE 19801, Attn: Justin Alberto (JAlberto@coleschotz.com) and Michael E. Fitzpatrick (mfitzpatrick@coleschotz.com); and (iii) Office of the United States Trustee, District of Delaware, 844 King Street, Suite 220, Room 2207, Wilmington, DE 19801, Attn: Jane M. Leamy (jane.m.leamy@usdoj.gov) (collectively, the "Notice Parties"). About US Magnesium LLC US Magnesium LLC is a magnesium producer based in Salt Lake City, Utah. US Magnesium LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11696) on Sept. 10, 2025. In its petition, the Debtor estimated assets and liabilities between $100 million and $500 million each. Judge Brendan Linehan Shannon oversees the case. The Debtor tapped Michael Busenkell, at Gellert Seitz Busenkell & Brown, LLC, as counsel; Carl Marks Advisory Group LLC as restructuring advisor; and SSG Advisors, LLC, as investment banker. Stretto, Inc., is the Debtor's claims and noticing agent. US NUCLEAR: Delays Q1 2026 10-Q; Auditor Review Not Yet Complete ---------------------------------------------------------------- US Nuclear Corp. is unable to file, without unreasonable effort or expense, its Form 10-Q for the period ended March 31, 2026. Additional time is needed for the Company to compile and analyze supporting documentation in order to complete the Form 10-Q and in order to permit the Company's independent registered public accounting firm to complete its review of the consolidated financial statements included in the Form 10-Q. The Company intends to file the Form 10-Q as soon as possible. About US Nuclear US Nuclear Corp. is engaged in developing, manufacturing, and selling radiation detection and measuring equipment. The Company markets and sells its products to consumers throughout the world. As of September 30, 2025, the Company had $2,537,709 in total assets, $2,391,319 in total liabilities, and $146,390 in total stockholders' equity. Spokane, Wash.-based Fruci & Associates II, PLLC, the Company's auditor since 2019, issued a "going concern" qualification in its report dated June 24, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, citing that the Company has an accumulated deficit and net losses. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. VANDERBILT MINERALS: Seeks to Extend Plan Exclusivity to Oct. 14 ---------------------------------------------------------------- Vanderbilt Minerals, LLC, asked the U.S. Bankruptcy Court for the Northern District of New York to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Oct. 14 and Dec. 13, 2026, respectively. The Debtor explains that an analysis of the various factors demonstrate that sufficient cause exists for extending the Exclusivity Period and Solicitation Period to October 14 and December 13, 2026, respectively. First, the size and complexity of this case warrants an extension of the Exclusivity Period and Solicitation Period. The Debtor operates mining and processing facilities in six states, maintains a substantial workforce, sells products globally, and faces hundreds of pending talc-related personal injury claims. Despite these complexities, the Debtor has achieved extraordinary results in an accelerated timeframe, including completing a comprehensive sale process that yielded three Qualified Bids and a $64 million transaction in fewer than ninety days from the Petition Date. Second, the Debtor's significant progress to date in the Chapter 11 Case justifies the requested extension of the Debtor's exclusive periods. With the Sale Order now entered and the Global Settlement Order approved, the primary components of a liquidating plan are in place. The Debtor requires additional time to: (i) close the sale transaction; (ii) negotiate with creditors concerning the terms of, and formulate a plan of liquidation providing for distributions to creditors; and (iii) prepare a disclosure statement. In addition, the Debtor has been paying its postpetition debts when due in the ordinary course of business. Throughout this Chapter 11 Case, the Debtor has maintained employee wages and benefits, paid vendors for postpetition goods and services, and met its DIP financing obligations. The fact that a debtor has sufficient liquidity to pay its postpetition debts as they come due supports the granting of an extension of the debtor's exclusive periods because it suggests that such an extension will not jeopardize the rights of postpetition creditors. Moreover, the sale transaction approved by the Sale Order provides a clear path to distributions to creditors. Net proceeds from the $64 million purchase price, combined with any remaining estate assets, such as insurance assets, will fund distributions under the plan. The Debtor has reasonable prospects for filing a viable chapter 11 plan that will provide for orderly distributions to creditors. The Debtor seeks to continue working with the Committee, its DIP lender, its insurers, and other parties in interest to formulate a confirmable chapter 11 plan. Additionally, the Debtor must resolve the treatment of talc related personal injury claims, which represent the largest category of unsecured claims in this Chapter 11 Case. Until further progress is made with respect to these matters, the Debtor will be unable to finalize a chapter 11 plan or prepare a disclosure statement containing adequate information. The Debtor asserts that there can be no inference in this case that it is seeking extensions of its Exclusivity Period and Solicitation Period as a negotiating tactic or as a means of maintaining leverage over any group of creditors whose interests may be harmed by such an extension. To the contrary, the Debtor, the Committee, the DIP Lender, and Holdings have agreed to engage in good faith negotiations regarding a consensual resolution of the case. The Debtor further asserts that the requested extension is sought solely to provide adequate time for plan formulation following the recent approval of the sale transaction. The Debtor is in the best position to lead the formulation of a confirmable chapter 11 plan that will provide for orderly distributions to creditors. Allowing the Debtor's Exclusivity Period and Solicitation Period to terminate at this point would defeat one of the primary purposes of section 1121 of the Bankruptcy Code, which is the development of a consensual chapter 11 plan. Counsel for the Debtor: BOND, SCHOENECK & KING, PLLC Charles J. Sullivan, Esq. Grayson T. Walter, Esq. Andrew S. Rivera, Esq. One Lincoln Center Syracuse, New York 13202-1355 Telephone: (315) 218-8000 Emails: csullivan@bsk.com gwalter@bsk.com arivera@bsk.com Proposed Counsel for the Debtor: LATHAM & WATKINS LLP Ray C. Schrock, Esq. George A. Davis, Esq. Jamie L. Wine, Esq. Anupama Yerramalli, Esq. 1271 Avenue of the Americas New York, New York 10020 Telephone: (212) 906-1200 Facsimile: (212) 751-4864 Emails: ray.schrock@lw.com george.davis@lw.com jamie.wine@lw.com anu.yerramalli@lw.com -and- Jeffrey E. Bjork, Esq. Kimberly A. Posin, Esq. 10250 Constellation Blvd., Suite 1100 Los Angeles, California 90067 Telephone: (424) 653-5500 Facsimile: (424) 653-5501 Emails: jeff.bjork@lw.com kim.posin@lw.com About Vanderbilt Minerals Vanderbilt Minerals, LLC supplies mineral and chemical products. The Company offers ceramics, clay binders, mineral fillers, floor finishes, paints, concrete, and lubricants. Vanderbilt Minerals serves rubber, plastics, petroleum, paper, pharmaceutical, agricultural, ceramics, adhesives, wire and cable, and cosmetics industries worldwide. Vanderbilt Minerals sought sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-60110 (WAK)) on February 16, 2026) Charles J. Sullivan at Bond, Schoeneck & King, PLLC represents the Debtor as legal counsel. Kurtzman Carson Consultants, LLC (operating as Verita Global, LLC) serves as claims agent. R.T. Vanderbilt Holding Company, Inc. is the sole equity holder, owning 100% of the company. VILLACON CONTRACTING: Commences Chapter 7 Bankruptcy in Washington ------------------------------------------------------------------ On May 5, 2026, Villacon Contracting and Design, LLC filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Eastern District of Washington. According to court filings, the debtor reports between $100,001 and $1 million in debt owed to between 1 and 49 creditors. About Villacon Contracting and Design, LLC Villacon Contracting and Design, LLC operates in the contracting and design services industry. The company sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-00885) on May 5, 2026. In its petition, the debtor reported estimated assets ranging from $0 to $100,000 and estimated liabilities between $100,001 and $1 million. Honorable Bankruptcy Judge Frederick P. Corbit handles the case. The debtor is represented by Elizabeth M. McBride of Elizabeth M. McBride PS Corp. VISTAGEN THERAPEUTICS: Names CMO, Grants 150,000 Options -------------------------------------------------------- Vistagen Therapeutics Inc. appointed Angel S. Angelov as chief medical officer effective May 18 and granted him options to buy 150,000 shares as an employment inducement, according to a Securities and Exchange Commission filing. The inducement stock option has an exercise price of $0.5955 per share, a 10-year term and vests over four years, subject to continued service. Dr. Angelov will receive a $425,000 annual base salary and is eligible for a discretionary annual cash bonus initially targeted at 45% of his base salary. He also will receive a $50,000 signing bonus payable in two equal installments. Vistagen said Angelov is a board-certified psychiatrist and neuroscience drug-development executive with more than 20 years of experience in clinical development and medical affairs. About Vistagen Vistagen Therapeutics Inc. is a late clinical-stage biopharmaceutical company using nose-to-brain neurocircuitry to develop and commercialize non-systemic intranasal product candidates called pherines for central nervous system disorders. Vistagen's most advanced intranasal pherine candidates are fasedienol, itruvone and refisolone. KPMG LLP audited Vistagen's financial statements for the year ended March 31, 2025. The auditor's report said the company's recurring losses, negative operating cash flows and accumulated deficit raised substantial doubt about its ability to continue as a going concern. Vistagen reported total assets of $65.06 million, total liabilities of $14.14 million and total stockholders' equity of $50.92 million as of Dec. 31, 2025, in its quarterly report for that period. VIVAKOR INC: Raises $6M in Convertible Notes With $100M Equity Line ------------------------------------------------------------------- Vivakor, Inc. announced in a regulatory filing that it closed the first tranche of a transaction with certain institutional investors under the terms of a Securities Purchase Agreement to issue and sell to each of the Investors promissory notes, for aggregate gross proceeds to the Company of up to $12.0 million, before deducting fees to the placement agent, RBW Capital Partners LLC (a division of Dawson James Securities, Inc.), and other expenses payable by the Company in connection with the offering. The Notes have a principal amount of $15,000,000, which consists of the Purchase Price plus $3,000,000 representing a 20% original issuance discount. Pursuant to the SPA, the Purchase Price is to be paid as follows: $6,000,000 on the initial closing date, and $6,000,000 upon a second closing date to occur pursuant to the terms of the SPA. The First Closing and Second Closing are conducted through the terms of an escrow agreement with a third-party escrow agent. Pursuant to the SPA, the Company shall register for resale all shares of its common stock that may be issued upon conversion of the Notes with respect to the First Closing and the Second Closing within 15 calendar days of the First Closing. The First Closing occurred on May 8, 2026, and the Company received $6,000,000 in gross proceeds. The Second Closing has not yet occurred. The Company paid RBW aggregate cash fees of $540,000 and paid $100,000 in legal fees to RBW's legal counsel in relation to the transactions contemplated by the First Closing. The Company intends to use the net proceeds from the sale of the Notes for working capital and general corporate purposes, and to pay down certain outstanding indebtedness and other liabilities of the Company. Each Investor has the right, at any time, to convert all or any portion of the then outstanding and unpaid Principal Amount and interest if any (including any costs, fees and charges) into shares of the Company's common stock, at a conversion price equal to the greater of $0.37 and 80% of the lowest daily volume weighted average price of the common stock during the five trading days immediately prior to the date of conversion. Any such conversion is subject to limitations so each Investor beneficially owns less than 4.99% of the outstanding common stock; however, the Investors have the right to waive this limitation, which if waived would cause us to issue a substantial number of freely tradable shares in a short period of time and that would have the effect of materially diluting our existing shareholders. Additionally, unless the Company receives approval from holders owning a majority of its outstanding voting stock, the Investors, in the aggregate, are limited from converting into shares of common stock if such conversion would cause the Company to issue more than 19.99% of the number of shares it had outstanding immediately prior to the First Closing. Subject to exceptions described in the SPA, including relating to the permitted issuance of certain Company securities, the Company may not sell any equity or equity-linked securities during the term of the Note without the Investors' prior consent. The Note contains customary Events of Default for transactions similar to the transactions contemplated by the SPA and the Note, which entitle each Investor, among other things, to accelerate the due date of the unpaid principal amount of the Note. Upon the first occurrence of an Event of Default with respect to the Note, the Principal Amount outstanding as of the time of the Event of Default date shall be automatically increased by 20%. The SPA contains certain representations and warranties made by each of the Company and the Investors, as set forth therein. Engagement Letter On April 8, 2026, the Company entered into an engagement letter in connection with the Offering, with RBW, pursuant to which RBW agreed to serve as the placement agent for the issuance and sale of securities of the Company pursuant to the SPA. As compensation for such placement agent services, the Company agreed to pay RBW an aggregate cash fee equal to 9.0% of the gross proceeds received by the Company from the Offering, plus up to $100,000 for its fees and expenses. On May 8, 2026, in connection with the First Closing, the Company paid RBW aggregate cash fees of $540,000 and $100,000 in legal fees to RBW's legal counsel. Further, pursuant to the Engagement Letter, RBW is entitled to compensation with respect to any financing of the Company occurring within 18 months of the termination or expiration of the Engagement Letter when such financing is provided by investors whom RBW introduced to the Company during the term of the Engagement Letter. The Engagement Letter also includes indemnification obligations of the Company and other provisions customary for transactions of this nature. In addition to the SPA and the Note, on May 7, 2026, the Company entered into a standby equity purchase agreement with one of the Investors, under which the SEPA Investor has committed to purchase from the Company up to $100,000,000 of shares of the Company's common stock in an equity line of credit. Subject to the terms and conditions of the SEPA, the Company has the right from time to time at its discretion until the first day of the month following the 36-month period after the date of the SEPA (or earlier in the event the SEPA Investor shall have made payment of $100 million in Advances), to direct the SEPA Investor to purchase a specified amount of shares of common stock by delivering written notice to the SEPA Investor. While there is no mandatory minimum amount for any Advance, it may not exceed the lesser of: (i) an amount equal to 100% of the average of the Daily Traded Amount (as defined in the SEPA) during the five consecutive Trading Days immediately preceding an Advance Notice, (ii) 30% of the Daily Traded Amount (as defined in the SEPA) and (iii) $1 million, and may not exceed 4.99% of the issued and outstanding shares of common stock. The shares of common stock purchased pursuant to an Advance will be purchased at a price equal to 94% of the lowest VWAP of the common stock during the three Trading Days following the applicable notice date. The Company may also deliver intraday purchase notices to the Investor, and the common stock purchased pursuant to an intraday Advance will be purchased at a price equal to 98% of the lowest traded price of the common stock during the intraday pricing period, as determined pursuant to the terms of the SEPA. The Company will control the timing and amount of any sales of common stock to the SEPA Investor under the Equity Line. Actual sales of common stock under the Equity Line will depend on a variety of factors to be determined by the Company from time to time, which may include, among other things, market conditions, the trading price of the common stock and determinations by the Company as to the appropriate sources of funding for its business and operations. The Company is required to file a registration statement registering the shares of common stock under the SEPA and must get that registration statement effective before the Company can begin any Advances under the Equity Line. Under the terms of the SEPA, the Company is required to issue the Investors a total facility fee equal to 0.25% of the total commitment amount, which requires the Company to issue to the Investors that number of additional shares of common stock equal to $250,000 divided by the lesser of the most recent Nasdaq Official Closing Price on: (i) the Effective date, and (ii) the lowest 1-Trading Day VWAP of the common stock of the five Trading Days immediately preceding the date the Registration Statement is declared effective. If the issuance of the Facility Fee Shares would cause the Investor to exceed certain ownership limitations then the Facility Fee may be issued as prefunded warrants. Full text copies of the SPA, the Notes, and the SEPA forms are available at https://tinyurl.com/4ew3pbhy, https://tinyurl.com/3xpuhju7, https://tinyurl.com/4xxcsx5b, respectively. About Vivakor Inc. Vivakor, Inc. provides transportation, storage, reuse, and remediation services for crude oil and petroleum byproducts. The Company operates facilities under long-term contracts to support these services and manages energy-related assets, properties, and technologies. Pittsburgh, PA-based Urish Popeck & Co., LLC, the Company's auditor since 2024, issued a "going concern" qualification in its report dated April 15, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has a significant working capital deficiency, suffered significant recurring losses from operations, and needs to raise additional funds to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had $113.5 million in total assets, $76.3 million in total liabilities, and $37.2 million in total stockholders' equity. WARRIOR TECHNOLOGIES: Case Summary & 20 Top Unsecured Creditors --------------------------------------------------------------- Debtor: Warrior Technologies, LLC d/b/a Lobo Trucking 400 W. Illinois Suite 950 Midland, TX 79701 Business Description: Warrior Technologies is an independent environmental and industrial services company based in Midland, Texas. Founded in 2017, the company provides environmental and industrial cleaning, mechanical services, hydroexcavation and line finding, trucking and transportation, demolition, abandonment and abatement, and gas mitigation and scrubbing. Warrior Technologies serves upstream, midstream, and downstream oil and gas operations, as well as renewable energy, construction, food processing, public- sector, energy, and infrastructure clients in the continental United States. Chapter 11 Petition Date: May 21, 2026 Court: United States Bankruptcy Court Southern District of Texas Case No.: 26-33562 Judge: Hon. Alfredo R Perez Debtor's Counsel: Bernard R. Given, II, Esq. LOEB & LOEB LLP 10100 Santa Monica Blvd., Suite 2200 Los Angeles CA 90067 Tel: (310) 282-2000 Email: bgiven@loeb.com Debtor's Financial Advisor: HARNEY PARTNERS Debtor's Claims & Noticing Agent: OMNI AGENT SOLUTIONS Estimated Assets: $10 million to $50 million Estimated Liabilities: $50 million to $100 million The petition was signed by Herman Hubert "Tripp" Wommack, III as chief executive officer. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/OFYLHRQ/Warrior_Technologies_LLC__txsbke-26-33562__0001.0.pdf?mcid=tGE4TAMA List of Debtor's 20 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Global World Technologies LLC Trade $675,677 8726 County Road 4105 Hermleigh TX 79526 USA Phone: (661) 301-1002 Email: amy@globalworldtechnologies.com 2. Cintas Trade $251,211 PO Box 650838 Dallas TX 75265-0838 Email: BerzosaB@cintas.com 3. Rush-Overland Trade $207,908 Manufacturing 2700 East I-20 Odesssa TX 79766 Phone: (800) 489-2397 4. Milestone Environmental Trade $197,161 Services, LLC 2700 East I-20 Odesssa TX 79766 Phone: (832) 739-6700 Email: billing@milestone-es.com 5. Mid Cal Labor Solutions Professional $152,621 Inc. Texas 13509 Lyndon B Johnson Fwy Suite 200 Garland TX 75041 Email: marilynne@midcallabor.com 6. Tommy White Supply Trade $95,073 PO Box 1709 Midland TX 79702 Phone: (432) 683-6361 Email: accounting@twsupply.com 7. Embark Buyer LLC Trade $91,140 333 1st Ave Dallas TX 75226-1610 Email: accounting@embarkwithus.com 8. Tiger Safety Trade $85,716 PO Box 733254 Dallas TX 75373 Phone: (432) 563-1422 Email: eliza.avila@tigerrentals.com 9. HRC, Inc. Trade $78,803 PO Box 5102 Hobbs NM 88241 Phone: (575) 393-6662 10. KC Light Towers LLC Trade $76,694 709 W Fairground Rd Artesia NM 88210 Phone: (575) 748-1460 Email: sarah.myers@kcltrentals.com 11. Southern Tire Mart Trade $73,245 4113 E Slaton Hwy Lubbock TX 79404 Phone: (806) 748-5900 Email: stm491@stmtires.com 12. Enverus Inc. Trade $66,180 PO Box 735594 Dallas TX 75373-5594 13. DISA Global Solutions, Inc. Trade $62,514 Dept. 3731 PO Box 123731 Dallas TX 75312 Phone: (281) 673-2400 14. Twin Wells Ranch LLC Trade $56,765 PO Box 3175 Carlsbad NM 88221 Phone: (575) 706-0339 Email: twinwellsranch@gmail.com 15. Mansfield Service Partners Trade $51,346 8799 North Loop East Ste 300 Houston TX 77029 Phone: (713) 672-4500 Email: MSP.Collections@mansfield.energy 16. Crestline Advisory Partners LLC Trade $49,930 700 Colorado Blvd Ste 686 Denver Co 80206 17. PBI International, LLC Trade $49,738 PO Box 738 1220 Miller Cut Off Rd La Porte TX 77572 Phone: (346) 361-0800 Email: ar@pbi-international.com 18. Anglar Holdings LLC Trade $49,676 320 W Fourth St Los Angeles CA 90013 19. UniFirst Trade $49,669 PO Box 650481 Dallas TX 75265 Phone: (800) 794-2706 20. Forrest Brothers Tire and Trade $48,700 Alignment PO Box 13120 Odessa TX 79768 Phone: (432) 337-4722 Email: lance.silva@forrestbrotherstire.com WARRIOR TECHNOLOGIES: Seeks Chapter 11 Bankruptcy w/ $38MM Debt --------------------------------------------------------------- Clara Geoghegan of Law360 reports that Texas-based Warrior Technologies has filed for Chapter 11 protection with roughly $38 million in secured liabilities, blaming escalating fuel and insurance expenses for its financial challenges. The company provides oilfield and trucking services tied to the energy industry. In bankruptcy filings, Warrior Technologies said mounting operational costs eroded profitability and strained working capital. The debtor explained that rising insurance premiums, combined with higher diesel and transportation-related expenses, created financial pressures that it could no longer absorb. The Chapter 11 process is expected to provide the company with breathing room to reorganize its balance sheet while continuing day-to-day operations. The filing highlights ongoing financial difficulties facing oilfield service providers as inflationary pressures continue affecting transportation and energy-related businesses, the report states. About Warrior Technologies LLC Warrior Technologies LLC is an energy services provider specializing in oilfield support and trucking operations for the energy sector. The company serves oil and gas producers with transportation and field-related logistics services across key operating regions. Warrior Technologies LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case 26-33562) on May 21, 2026. In its petition, the Debtor reports estimated assets between $10 million and $50 million and estimated liabilities between $50 million and $100 million. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtor is represented by Bernard R. Given, II, Esq. of Loeb & Loeb. WASHINGTON-MCLAUGHLIN: Rental Income & Sale Proceeds to Fund Plan ----------------------------------------------------------------- The Washington-Mclaughlin Christian School, Inc. a/k/a The Washington-Mclaughlin Christian School ("WMCS") filed with the U.S. Bankruptcy Court for the District of Maryland a Subchapter V Plan dated May 11, 2026. The Debtor is a qualified 501(c)(3) non-profit corporation incorporated in the District of Columbia and operating in Maryland. The Debtor is managed by its president and director, Dr. Pauline P. Washington. The Debtor owns real property located at 6501 Poplar Avenue, Takoma Park, MD 20912 (the "Property") which the Debtor believes has an approximate value of $4,974,750.00. The Debtor purchased the Property in 1985 for the purpose of operating the Washington-McLaughlin Christian School, a private religious elementary school serving Maryland and Washington, D.C. The Debtor operated the school over 27 years thereafter, until, in 2012, declining enrollment and associated financial problems caused the school to close. Though the Debtor planned to reopen the school thereafter, it was unable to do so. During the Bankruptcy Case, the Debtor sought a potential purchaser for the Property. The Debtor employed Sarah Hake ("Hake") as its Real Estate Agent and Compass Inc. d/b/a Compass as its Broker ("Compass") with approval from the Court on April 21, 2026. Since the Petition Date, the Debtor was presented with four letters of intent regarding potential purchases of the Property. The Debtor is in discussions with one such purchaser ("Potential Purchaser") to purchase the Property for a gross sale price of $6,000.000.00. Under the terms of the potential sale, the Potential Purchaser would pay $1,200,000 in cash at the closing (The "Initial Purchase Money Payment"), and the Debtor would execute a promissory note and deed of trust (the "Purchase Money Financing") for payment of the remaining $4,800,000 purchase price over a hypothetical term of 25 years, at interest of 6.0% per annum, through monthly payments of principal and interest, followed by a payment of all remaining principal and interest 36 months after the sale. The Potential Purchaser intends to operate the Property as a Montessori school, and the Debtor believes it will be able to close on the sale within 60 days of confirmation of the Plan. Under the Plan, the Debtor seeks authority to sell the Property free and clear of liens and encumbrances pursuant to Section 363 of the Bankruptcy Code. The Debtor submits that it is entitled, pursuant to Bankruptcy Section 363(f)(4), to sell the Property free and clear of the HUD lien, which is in "bona fide dispute" as the Debtor did not grant HUD a security interest in the Property and did not execute the Capital Advance documents associated with the HUD loan. Upon sale of the property, the initial $1.2 million payment will be sufficient to satisfy the tax lien claims of East Coast and Montgomery County and pay all allowed general unsecured claims. The Debtor will thereafter seek an adjudication of the validity of the HUD lien. This Plan under chapter 11 of Title 11 of the United States Code proposes to pay creditors of the Debtor from the Initial Purchase Money Payment and the Purchase Money Financing. The Plan provides for 4 classes of claims and 1 class of interests. The Plan also provides for the payment of administrative priority claims and unclassified priority tax claims. Class 4 Claims General Unsecured Claims. Class 4 Claims shall be paid in full on the Effective Date through the Initial Purchase Money Payment. The allowed unsecured claims total $15,575. This Class is unimpaired. All interest holders shall retain their interest in the Reorganized Debtor. The Debtor's Plan will be funded through cash on hand, rental income, and proceeds from the proposed sale of the Property. The Debtor receives rental income from ADCC in the amount of $6,000.00 per month which it expects to continue to receive until the Property is sold. In addition, the Debtor expects to receive, on or before the Effective Date, the Initial Purchase Money Payment from sale of the Property. The gross amount of the Initial Purchase Money Payment shall be $1.2 million, an amount sufficient to pay all costs of sale, satisfy administrative expenses of the estate, and satisfy all Class 2, 3 and 4 Claims. Pursuant to Section 363(f) of the Bankruptcy Code, the sale of the Property is to be free and clear of all liens and interests, with all liens and interests attaching to the sale proceeds in the order and amount that they are allowed by the Court and attached to the Property. The sale is subject to notice and hearing requirement of the Bankruptcy Code, Bankruptcy Rules and the Local Rules of the Bankruptcy Court. The sale is subject to an Order of the Bankruptcy Court approving the sale 1) as a component of the Confirmation Order, or 2) through a separate motion authorizing sale free and clear of liens. A full-text copy of the Subchapter V Plan dated May 11, 2026 is available at https://urlcurt.com/u?l=5Sq3Em from PacerMonitor.com at no charge. Counsel for the Debtor: Augustus T. Curtis, Esq. Offit Kurman, P.A. 7500 Wisconsin Avenue, Suite 1000W Bethesda, MD 20814 TEL: (240) 507-1756 FAX: (240) 507-1735 About The Washington-McLaughlin Christian School The Washington-McLaughlin Christian School, Inc. is a Maryland-based private Christian educational institution providing faith-based academic instruction to students in its community. The Washington-McLaughlin Christian School, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11355) on February 9, 2026. In its petition, the Debtor reports estimated assets of $0-$100,000 and estimated liabilities of $1 million-$10 million. Judge Maria Ellena Chavez-Ruark handles the case. The Debtor is represented by Augustus Curtis, Esq., at Offit Kurman. WEISER ONION: Matthew Grimshaw Named Subchapter V Trustee --------------------------------------------------------- The Acting U.S. Trustee for Region 18 appointed Matthew Grimshaw as Subchapter V trustee for Weiser Onion Produce LLC. Mr. Grimshaw will be paid an hourly fee of $375 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Grimshaw declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Matthew W. Grimshaw 800 W. Main Street, Ste 1460 Boise, ID 83702 O. (208) 391-7860 Email: matt@grimshawlawgroup.com About Weiser Onion Produce LLC Weiser Onion Produce, LLC is a Weiser, Idaho-based produce wholesaler that packs and ships onions for retail and foodservice customers. Founded in 2022, the company operates from a Weiser packing facility and handles yellow, white and red onions grown by the Navarrete family's farming operations in the Idaho-Oregon onion region. Weiser Onion Produce sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Idaho Case No. 26-00405) on May 13, 2026, with $1 million to $10 million in both assets and liabilities. Jose David Navarrete, owner, signed the petition. Patrick J. Geile, Esq., at Foley Freeman, PLLC represents the Debtor as legal counsel. WEST MARINE: Deadline for Panel Questionnaires Set for May 27 ------------------------------------------------------------- The United States Trustee is soliciting members for committee of unsecured creditors in the bankruptcy cases of West Marine Inc., et al. If a party wishes to be considered for membership on any official committee that is appointed, it must complete a questionnaire available at https://tinyurl.com/4pwmbwr8 and return by email it to Linda Casey -- Linda.Casey@usdoj.gov -- at the Office of the United States Trustee so that it is received no later than Wednesday, May 27, 2025, at 4:00 p.m. (E.T.). If the U.S. Trustee receives sufficient creditor interest in the solicitation, it may schedule a meeting or telephone conference for the purpose of forming a committee. About West Marine Inc. West Marine Inc. is a U.S.-based marine retail company specializing in boating, fishing and marine maintenance products. Established in 1968, the company operates one of the countryâ€™s largest networks of boating supply stores, offering products ranging from marine electronics and navigation tools to fishing accessories, apparel and safety equipment. West Marine Inc. and certain of its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 26-10794) on May 17, 2026. In its petition, the Debtor reported estimated total assets of $500 million to $1 billion and estimated liabilities of $500 million to $1 billion. The petition was signed by Paulee Day as chief executive officer. The Debtors' restructuring counsel is Young Conaway Stargatt Taylor, LLP and their co-bankruptcy counsel is Kirkland & Ellis LLP. The Debtors tapped Triple P Securities, LLC as their investment banker. FTI Consulting Inc. is the Debtors' restructuring advisor. The Debtors' claims and noticing agent is Kurtzman Carson Consultants LLC dba Verita Global. Hilco Merchant Resource LLC and Hilco Real Estate LLC is the Debtors' real estate advisor and liquidator. WHITE ASH: Case Summary & Four Unsecured Creditors -------------------------------------------------- Debtor: White Ash Holdings, LLC 8935 N. Meridian Street, Suite 112 Indianapolis, IN 46260 Business Description: White Ash Holdings, LLC is an Indianapolis- based real estate holding company whose assets include residential properties in Carmel, Indiana. Chapter 11 Petition Date: May 20, 2026 Court: United States Bankruptcy Court Southern District of Indiana Case No.: 26-03248 Judge: Hon. James M Carr Debtor's Counsel: Eric C. Redman, Esq. SAEED & LITTLE, LLP 8777 Purdue Road Suite 106 Indianapolis, IN 46268 Tel: 317-840-9755 Fax: 317-636-8686 E-mail: eric@slbankruptcy.com Total Assets: $5,450,078 Total Liabilities: $8,531,894 The petition was signed by Zakir Khan as sole member. A full-text copy of the petition, which includes a list of the Debtor's four unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/UN4JQFY/White_Ash_Holdings_LLC__insbke-26-03248__0001.0.pdf?mcid=tGE4TAMA WHITEHALL TRUST: Dilworth Paxson Can't Represent All Debtors ------------------------------------------------------------ Judge Catherine Henry of the U.S. District Court for the Eastern District of Pennsylvania vacated the order of the Bankruptcy Court authorizing Dilworth Paxson to represent Whitehall Trust, Saucon Trust, Whitehall Manor, Inc. and Saucon Valley Manor, Inc. in the bankruptcy proceedings. This is an appeal from an order of the United States Bankruptcy Court for the Eastern District of Pennsylvania approving Debtors' application to employ joint bankruptcy counsel. The Trust Debtors, Whitehall Trust and Saucon Trust, own real estate that they lease to Whitehall Manor, Inc. and Saucon Valley Manor, Inc., the Manor Debtors, for operation as personal care homes. In 2024, Lehigh Valley 1, the holder of mortgages on the Trust properties, commenced mortgage foreclosure proceedings in this Court, and on December 26, 2025, the Trust Debtors filed petitions for bankruptcy, along with the Manor Debtors, staying the mortgage foreclosure actions. In the bankruptcy matters, the Debtors filed an application seeking to employ the law firm of Dilworth Paxson LLP as bankruptcy counsel for all four debtors, the Trust Debtors and the Manor Debtors. Lehigh objected to the Application due to alleged conflicts of interest between the Trust Debtors and the Manor Debtors, and after a hearing held on January 27, 2026, the Bankruptcy Court approved Dilworth Paxson as bankruptcy counsel for all debtors. Lehigh then appealed that Order to this Court, arguing that there are actual conflicts of interest between the Debtors that bar Dilworth from representing all of them as bankruptcy counsel. The Court notes in the mortgage foreclosure actions involving the Trust entities, the Trusts and their counsel repeatedly represented that they were completely separate and distinct from the Manor entities, with completely differing interests and ownership. The Trust entities had different attorneys in the foreclosure action than the Manor entities, who were involved only in the context of a motion to quash a subpoena. The Trust entities represented that they had absolutely no access to documents that were in the possession of the Manor entities. When the Debtors filed for bankruptcy and requested to be permitted to employ the same bankruptcy counsel for the Trust entities and the Manor entities, the Debtors now claimed that the four entities were a single business enterprise. Lehigh objected to joint counsel, in part because the Debtors had taken contradictory positions in the foreclosure matter and the bankruptcy as to the relationship between the Trust Debtors and the Manor Debtors. Lehigh argues that Dilworth has an actual conflict of interest in this matter between representing both the Trust Debtors and the Manor Debtors and therefore should be barred from representing all four entities. The Debtors claim that there is no actual conflict in because the Debtors operate as a single business enterprise, have a group obligation to their creditors and are ultimately controlled by one person, Abraham Atiyeh. According to Judge Henry, "After a review of the record in this matter and the parties' briefing, I find that an actual conflict of interest exists that bars Dilworth from representing both groups of Debtors. It is undisputed that the Trust Debtors own the relevant real property, are landlords for the Manor Debtors and that leases exist between the Trust Debtors and the Manor Debtors. It is also undisputed that the only source of income for the Trust Debtors is rent from the Manor Debtors, and that the Manor Debtors lease the properties from the Trust Debtors to operate their personal care homes and pay rent to the Trust Debtors." The Trust Debtors would benefit from application of section 365(d)(3) so that they could receive rental payments from the Manor Debtors to allow the Trust Debtors to meet some of their financial obligations to Lehigh. In contrast, the Manor Debtors would benefit from the non-application of section 365(d)(3), as they could keep the rental payments owed to the Trust Debtors and use them for operations. Judge Henry holds, "It cannot be denied that there is an actual conflict of interest with respect to the Manor Debtors' obligation to pay rent to the Trust Debtors and in what amount. Accordingly, the same law firm cannot properly advise both the Trust Debtors and the Manor Debtors as to how the leases between the Debtors should be treated in the bankruptcies. Dilworth Paxson cannot represent both the Trust Debtors and the Manor Debtors in the bankruptcy proceeding, and therefore, I must vacate the Bankruptcy Court's order authorizing Debtors to employ Dilworth as bankruptcy counsel for all the Debtors. The Trust Debtors and the Manor Debtors must obtain separate counsel in the bankruptcy proceedings." A copy of the Court's Memorandum dated May 18, 2026, is available at http://urlcurt.com/u?l=fQvCH7from PacerMonitor.com. About Whitehall Trust Whitehall Trust sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Pa. Case No. 25-15241) on Dec. 26, 2025, listing up to $50,000 in assets and $100,001 to $500,000 in liabilities. Judge Patricia M Mayer presides over the case. Michelle Lee, Esq., at Dilworth Paxson LLP serves as the Debtor's counsel. WISCONSIN & MILWAUKEE: Hires Jones Lang as Investment Banker ------------------------------------------------------------ Wisconsin & Milwaukee Hotel LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Wisconsin to employ Jones Lang Lasalle Americas, Inc. as investment banker. The firm's services includes: a. evaluating and recommending to the Debtor the appropriate marketing strategy for the Transaction; b. preparing a comprehensive marketing presentation which will provide detailed information necessary for the analysis and evaluation of the Transaction; c. creation and implementation of a marketing plan; d. engaging in preliminary discussions with potential buyers about a potential Transaction; e. preparation of due diligence information, including but not limited to, document summaries, historic and forecasted financial statements, market performance summaries, physical property descriptions and site plans, and lease copies, to the extent deemed reasonably appropriate by JLL; f. communicating with the Debtor and with Debtor's special corporate counsel at the law firm of Much Shelist on the status of the marketing efforts, discussions, and terms and conditions of any and all offers; and g. assisting Debtor in the coordination of activities required to consummate the Transaction. The firm will be paid as follows: a) Transaction Fee: JLL shall be entitled to be paid a transaction fee ("Transaction Fee") equal to an amount determined in accordance with the following schedule: (1) Base Fee of $225,000; and (2) Incentive Fee equal to 5.0% of the Gross Proceeds, as defined herein, greater than $8,250,000. b) For purposes of the Transaction Fee payable to JLL pursuant to the Engagement Agreement, "Gross Proceeds" shall mean the total fair market value of the gross consideration (including without limitation, cash, notes, securities, property, obligations or mortgages assumed or taken subject to, and any other form of consideration) to be received by Debtor in connection with the Transaction. c) The Transaction Fee will become due and payable by the Debtor upon the closing of a Transaction, whether or not through the efforts of JLL, provided the Debtor has entered into a letter of intent or definitive agreement for the Transaction during the term of the Engagement Agreement. In addition, if the Debtor enters into a letter of intent or definitive agreement for a Transaction within one year following the termination of JLL's engagement under the Engagement Agreement with one or more of the prospective parties contacted by JLL while performing the Services, or one or more of their affiliates and such Transaction subsequently closes, Debtor shall be obligated to pay JLL the Transaction Fee upon the closing of the Transaction. In no event shall a Transaction be deemed to have occurred if the Transaction does not close for any reason, and in such case, JLL shall not be entitled to any Transaction Fee. d) The Debtor agrees to reimburse JLL for all direct out-of-pocket costs and expenses incurred by JLL within the scope of its engagement pursuant to the Engagement Agreement, including without limitation, travel, lodging and meal expenses, and printing and production charges, without Debtor's prior written approval (the "Expense Cap"). Up to ten percent (10%) of the total of such reimbursable expenses will be charged for administrative expenses incurred by JLL (and shall be subject to the Expense Cap), including, but not limited to express mail and courier services, telephone and related expenses, reproduction charges (exclusive of the cost of third party Offering Memorandum costs) and other similar expenses. In addition, JLL shall be reimbursed by Debtor for any payments made by JLL to third party consultants and professionals provided such third party consultants and professionals have been approved in advance by Debtor, and if required, by the Bankruptcy Court. Debtor shall also make available to JLL's employees overnight accommodations on a complimentary basis at the Hotel to the extent available, when such employees are visiting the Hotel for the purposes of marketing and selling the equity as contemplated herein. All reimbursable amounts shall be payable upon receipt by the Debtor of any invoice from JLL therefor. Mr. McGaughy, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Adam S. McGaughy Jones Lang Lasalle Americas, Inc. 150 North Riverside Plaza, Suite 2500 Chicago, IL 60606 Tel: (312) 228-2376 Mobile: (312) 399-6833 Email: adam.mcgaughy@jll.com About Wisconsin & Milwaukee Hotel Wisconsin & Milwaukee Hotel LLC is a Wisconsin limited liability company with its principal place of business in Milwaukee, Wisconsin. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Wisc. Case No. 24-21743) on April 9, 2024. In the petition signed by Mark Flaherty, as manager, the Debtor disclosed up to $50 million in both assets and liabilities. Judge G. Michael Halfenger oversees the case. Michael P. Richman, at RICHMAN & RICHMAN LLC, is the Debtor's legal counsel. WISCONSIN & MILWAUKEE: Wins Bid to Modify Cash Collateral Order --------------------------------------------------------------- Judge G. Michael Halfenger of the U.S. Bankruptcy Court for the Eastern District of Wisconsin granted the motion of Wisconsin & Milwaukee Hotel, LLC to modify a May 2024 order that requires monthly payments to its principal secured creditor as a condition on its use of cash collateral. Debtor Wisconsin & Milwaukee Hotel owns the Milwaukee Marriott Downtown, a full-service hotel in Milwaukee. Lenders Computershare Trust Company, N.A. and Wisconsin & Milwaukee Hotel Funding, LLC hold debt secured by the Debtor's assets, including the hotel. The Debtor was unable to pay its obligations to Computershare when it demanded full payment on April 1, 2024, resulting in the Debtor commencing Chapter 11 case. A few days after filing its bankruptcy petition, the Debtor requested that the court authorize its operational use of cash in which Computershare held a security interest and grant Computershare adequate protection limited to the granting of replacement liens to the extent of any completely unanticipated decline in the cash collateral. The court entered an order authorizing the Debtor to use cash collateral and requiring, among other things, that the Debtor make monthly payments to Computershare, capped at $50,000 per month. The order had no termination date, though it entitled Computershare to terminate the Debtor's right to use cash collateral upon notice of an event of default, which includes, among other things, a confirmed plan taking effect. By December 2025, the Debtor had paid Computershare more than $957 thousand during the bankruptcy case and the Debtor's cash accounts had increased from about $368 thousand when it filed for bankruptcy protection to more than $2 million. The Debtor now determined that under these changed financial circumstances, continued monthly adequate protection payments are unnecessary: There is no significant risk that Computershare's collateral -- the Debtor's cash accounts and the hotel -- will decline in value before a final hearing on plan confirmation. Cash on hand now vastly exceeds the amount available on the petition date and there is no evidence that the hotel is decreasing in value (indeed, both sides' experts have presumed it is increasing in value). As a result, the Debtor believes Computershare's secured position is adequately protected and there's no adequate protection need for additional payments. Computershare objected to the Debtor's motion, arguing that it is untimely under Rule 60(c) and that no change in circumstances warrants altering the order's requirement that the Debtor make monthly payments to Computershare. The court has ordered that a final hearing on confirmation will commence shortly, a schedule the Debtor and the lenders participated in setting. Unlike previously, the outcome of that hearing will definitively resolve the parties' bankruptcy dispute. The court will either confirm the Debtor's plan of reorganization or, if the Debtor is unsuccessful in confirming its plan, the court will grant Lenders relief from the Sec. 362(a) stay to enforce their rights in the Debtor's property under non-bankruptcy law. According to the court, given this and the fact that Computershare does not contend that it currently faces any risk that its collateral position is not adequately protected, continuation of the order's monthly payment term has no ongoing equitable purpose or function beyond the commencement of the confirmation hearing. The only delay, if any, will be one of adjudication, which the court anticipates will be short, and, in all events, any such delay is not one that should be charged to the Debtor in the form of payments that can no longer be justified as adequate protection -- that is, as payments calculated to preserve value of Computershare's collateral value through plan confirmation. The court will therefore modify the order to discontinue all monthly payments after the May 2026 payment. The court ordered as follows: 1. The monthly payments required by the May 2, 2024 cash collateral order terminate upon the Debtor's tendering of all such payments through and including the May 2026 payment. 2. The Debtor's motion for relief from the May 2, 2024 cash collateral order is granted to the extent provided by this order and is otherwise denied. A copy of the court's opinion and order is available at https://urlcurt.com/u?l=8sIIek from PacerMonitor.com. About Wisconsin & Milwaukee Hotel Wisconsin & Milwaukee Hotel LLC is a Wisconsin limited liability company with its principal place of business in Milwaukee, Wisconsin. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Wisc. Case No. 24-21743) on April 9, 2024, listing up to $50 million in both assets and liabilities. Mark Flaherty, manager, signed the petition. Judge G. Michael Halfenger oversees the case. The Debtor tapped Michael P. Richman, Esq., at Richman & Richman LLC, as bankruptcy counsel; Much Shelist, P.C. as special counsel; Mallery s.c. as corporate counsel; and SSG Advisors, LLC as investment banker. WORKSPORT LTD: Q1 2026 Loss Widens to $5.8MM; Going Concern Remains ------------------------------------------------------------------- Worksport Ltd. has filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting a net loss of $5,828,522 for the three months ended March 31, 2026, compared to a net loss of $4,460,464 for the same period in the prior year. Net sales for the three months ended March 31, 2026 were $3,312,800, compared to $2,240,005 in the prior-year period. As of March 31, 2026, the Company had $566,583 in cash and cash equivalents. The Company also has availability on its revolving line of credit of $2,479,490. The Company has generated only limited revenues and has relied primarily upon capital generated from public and private offerings of its securities. Since the Company's acquisition of Worksport in 2014, it has never generated a profit. As of March 31, 2026, the Company had an accumulated deficit of $89,729,030. As of March 31, 2026, the Company had working capital of $6,579,541 (December 31, 2025 – $10,061,578) and had an accumulated deficit of $89,729,030 (December 31, 2025 - $83,873,790). The Company has not generated profit from operations since inception and to date has relied on debt and equity financing for continued operations. The Company's ability to continue as a going concern is dependent upon the ability to generate cash flows from operations and obtain equity and/or debt financing. The Company intends to continue funding operations through equity and debt financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements in the long term. There can be no assurance that the steps management is taking will be successful. The Company has historically operated at a loss, although that may change as sales volumes increase and margins improve. As of March 31, 2026, the Company had cash and cash equivalents of $566,583 (December 31, 2025 - $5,945,894). Despite the Company having completed its purchasing of large manufacturing machinery for phase one output levels, operational costs are expected to remain elevated and, thus, further decrease cash and cash equivalents. Concurrently, the Company intends to continue its ramp-up of manufacturing and increasing sales volumes in 2026, which should mitigate the effects of operational costs on cash and cash equivalents as it releases new product lines; this view is supported by the fact that the manufacturing facility of the Company was completed for initial production output in 2023 and quickly began improving output and sales beginning in 2024 and continuing into 2026. The Company has successfully raised capital in recent periods and believes it is positioned to do so again if deemed necessary or strategically advantageous. On September 30, 2022, the Company entered into an At The Market Offering Agreement with H.C. Wainwright & Co., LLC, pursuant to which the Company could offer and sell shares of its common stock having an aggregate offering price of up to $13.0 million through Wainwright as sales agent under the Company's shelf registration statement on Form S-3 (File No. 333-267696), including the related base prospectus and prospectus supplement dated October 13, 2022. Sales of shares of common stock through Wainwright, if any, were made pursuant to an "at the market offering" as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended. Under the ATM Agreement, Wainwright is entitled to a commission equal to 3.0% of the gross proceeds from shares sold under the ATM Agreement, and the Company also agreed to reimburse Wainwright for certain specified expenses. Because the Company's public float was below $75.0 million, sales under the ATM Agreement were subject to the limitations of General Instruction I.B.6 of Form S-3. Accordingly, on November 5, 2024 and December 13, 2024, the Company filed prospectus supplements to update the amount of securities then eligible for sale under the ATM Agreement based on the Company's public float and prior sales during the applicable rolling 12-month period. The Company's registration statement on Form S-3 (File No. 333-267696) expired on October 13, 2025. Through the expiration date, the Company had sold 872,027 shares of common stock under the ATM Agreement for aggregate gross proceeds of approximately $6,751,381. On November 14, 2025, the Company and Wainwright entered into an amendment to the ATM Agreement in connection with the Company's new shelf registration statement on Form S-3 (File No. 333-291582). Pursuant to the amended ATM Agreement and the related base prospectus and prospectus supplement dated December 12, 2025, the Company may offer and sell shares of its common stock having an aggregate offering price of up to $4.0 million through Wainwright as sales agent. Because the Company's public float remains below $75.0 million, sales under the ATM Agreement remain subject to the limitations of General Instruction I.B.6 of Form S-3, which limits the amount of securities the Company may sell in primary offerings during any rolling 12-month period. During the three months ended March 31, 2026, the Company sold 1,468,606 shares of common stock pursuant to the ATM Agreement for aggregate gross proceeds of approximately $2,232,530, resulting in net proceeds to the Company of approximately $2,154,230 after deducting commissions and offering expenses. On November 2, 2023, the Company consummated a registered direct offering pursuant to which the Company issued 192,500 shares of common stock and 157,500 pre-funded warrants to an institutional investor for a total net proceeds of $4,261,542. Concurrently with the registered direct offering, the Company issued the same institutional investor 700,000 warrants in a private sale. The warrants are exercisable for 700,000 shares of common stock for $13.40 per share six months after issuance and until five and a half 5.5 years from the issuance date, subject to beneficial ownership limitations as described in the warrants. The Company registered the 700,000 shares of common stock underlying the warrants on a registration statement on Form S-1 (File No. 333-276241) declared effective by the SEC on December 29, 2023. On March 20, 2024, the Company consummated a registered direct offering pursuant to the prospectus supplement dated March 18, 2024 to the Company's effective shelf registration statement on Form S-3 (File No. 333-267696), pursuant to which the Company issued 237,224 shares of common stock and 147,789 pre-funded warrants to purchase shares of common stock to the same institutional investor as in the Company's registered direct offering on November 2, 2023, for a total net proceeds of $2,629,083. Concurrently with the registered direct offering, the Company issued the institutional investor 770,026 warrants in a private sale. The warrants became exercisable six months following issuance at an exercise price of $7.40 per share and expire five and one-half years from the issuance date, subject to beneficial ownership limitations contained. The Company registered the resale of the 770,026 shares of common stock underlying the warrants pursuant to a registration statement on Form S-1 (File No. 333-278461) which was declared effective by the SEC on April 8, 2024. On May 29, 2024, Worksport sent an inducement letter to a shareholder offering an option to exercise their warrants at a reduced exercise price of $5.198 per warrant. In turn, Worksport offered the shareholder new warrants to purchase up to 1,295,000 warrant shares with an exercise price of $5.198. The shares had a term of 5.5 years, with a 6-month required holding period. On February 27, 2025, Worksport entered into a warrant inducement agreement with a shareholder to exercise 755,558 of their 1,295,000 May 2024 Warrants at price of $5.198 per share. The remaining unexercised 539,442 warrants are included in share subscription payable. In return, the Company issued 1,424,500 new 2025 Inducement Warrants. Each Inducement Warrant has an exercise price of $6.502, will become exercisable six months after issuance, and have a 5.5-year life. Worksport raised approximately $6,731,000 in gross proceeds before fees and expenses, with the funds earmarked for general corporate and working capital purposes. On June 13, 2025, Worksport completed the initial closing of its Regulation A offering whereby up to 3,100,000 Units may be sold at an offering price of $3.25 per unit. Each Unit consists of one share of 8% Series C Convertible Preferred Stock, par value $0.001 per share (the "Series C Preferred Stock") and one warrant for the right to purchase one (1) share of common stock, $0.001 par value with an exercise price of $4.50 per share. The qualified Regulation A offering is expected to generate gross proceeds of $10,000,000. The Company completed the Regulation A offering in October 2025. The Company completed 32 tranches and received proceeds of $9,092,414 (net of issuance cost of $899,997). On December 11, 2025, the Company entered into a warrant inducement agreement with the holder of existing warrants to purchase an aggregate of 2,194,526 shares at a reduced exercise price of $2.90. Pursuant to the Inducement, the exercising holder of the existing warrants received 3,840,421 inducement warrants, and the Company received $6,364,000 from the exercise of the existing warrants. As a result of the inducement and subsequent exercise, the Company determined the incremental fair value provided to the holder from both the adjustment in exercise price of the existing warrants and the fair value of the inducement warrants issued using the Black Scholes model. The total incremental fair value of $4,485,000 is recorded as a non-cash deemed dividend. The proceeds of the warrant inducement and issuance of 916,000 shares of common stock are recorded as additional paid in capital. The obligation to issue the remaining 1,278,526 shares was satisfied during the three months ended March 31, 2026. To date, the Company's primary sources of liquidity consist of net proceeds from public and private securities offerings and cash exercises of outstanding warrants. Management is focused on transitioning towards revenue as its primary source of liquidity by growing existing product offerings as well as the Company's customer base. The Company cannot give assurance that it can increase its cash balances or limit its cash consumption and thus maintain sufficient cash balances for planned operations or future business developments. Future business development and demands may lead to cash utilization at levels greater than recently experienced. The Company may need to raise additional capital in the future. However, the Company cannot provide assurances it will be able to raise additional capital on acceptable terms, or at all. The Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern within one year after the date the financial statements are issued. Still, certain factors indicate the existence of a material uncertainty that cast substantial doubt about the Company's ability to continue as a going concern. A full text copy of the Company's Form 10-Q is available at https://tinyurl.com/2m2w6udj About Worksport Ltd. West Seneca, N.Y.-based Worksport Ltd., through its subsidiaries, designs, develops, manufactures, and owns intellectual property on a portfolio of tonneau cover, solar integration, portable power station, and NP (Non-Parasitic), Hydrogen-based green energy products and solutions for the automotive aftermarket accessories, power storage, residential heating, and electric vehicle-charging industries. Buffalo, N.Y.-based Lumsden & McCormick, LLP, the Company's auditor since 2022, issued a "going concern" qualification in its report dated March 26, 2026, saying "The Company has experienced recurring net losses that raise substantial doubt about the Company's ability to continue as a going concern. Upon analysis of the Company's current financial situation and projected outlooks, we believe there is substantial doubt about the Company's ability to continue as a going concern." As of March 31, 2026, the Company had $27,880,801 in total assets, $7,903,793 in total liabilities, and $19,977,008 in total stockholders' equity. YUNHONG GREEN: Loss Narrows to $341K in Q1; Warns of Cash Crunch ---------------------------------------------------------------- Yunhong Green CTI Ltd. has filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting a net loss of $341,000 for the three months ended March 31, 2026, compared to a net loss of $416,000 for the same period in the prior year. The Company has a cumulative net loss from inception to March 31, 2026 of approximately $29,000,000. Net sales for the three months ended March 31, 2026 were $6,154,000, compared to $4,802,000 in the prior-year period. The Company's cash resources from operations may be insufficient to meet its anticipated needs during the next 12 months. If the Company does not execute its plan, it may require additional financing to fund its future planned operations. At March 31, 2026, the Company had cash balances of $178,000 compared to cash balances of $172,000 for the same period of 2025. The ability of the Company to continue as a going concern is dependent on the Company having adequate capital to fund its operating plan and performance. Management's plans to continue as a going concern may include raising additional capital through sales of equity securities and borrowing, continuing to focus the Company on attaining profitable operations, and exploring alternative funding sources on an as needed basis. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. The supply chain challenges, inflationary pressures and tariffs have impacted on the Company's business operations to some extent and is expected to continue to do so and these impacts may include reduced access to capital. The ability of the Company to continue as a going concern may be dependent upon its ability to successfully secure other sources of financing and attain profitable operations. The Company's primary sources of liquidity have traditionally been comprised of cash and cash equivalents as well as availability under a Credit Agreement. The Credit Agreement with Line Financial, as most recently amended in September 2025, includes a revolving credit facility for up to $7 million and a term loan of $0.7 million, all supported by the majority of the Company's assets. This Agreement was extended during September 2025, to mature April 30, 2027, under substantially similar terms. A full text copy of the Company's Form 10-Q is available at https://tinyurl.com/2bf352jr About Yunhong Green Barrington, Ill.-based Yunhong Green CTI Ltd develops, produces, distributes and sells a number of consumer products throughout the United States and in several other countries, and it produces film products for commercial and industrial uses in the United States. The Company's principal lines of products include Novelty Products consisting principally of foil and latex balloons and related gift items; and Flexible Films for food and other commercial and packaging applications. Boston, Massachusetts-based Wolf & Company, P.C, the Company's auditor since 2020, issued a "going concern" qualification in its report dated March 23, 2026, attached to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, citing that the Company has suffered recurring losses from operations and has an accumulated deficit. This raises substantial doubt about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $21,646,000 in total assets, $13,387,000 in total liabilities, and $8,259,000 in total stockholders' equity. ********* On Thursdays, the TCR delivers a list of recently filed Chapter 11 cases involving less than $1,000,000 in assets and liabilities delivered to nation's bankruptcy courts. 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