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260717.mbx T R O U B L E D C O M P A N Y R E P O R T E R Friday, July 17, 2026, Vol. 30, No. 198 Headlines 145 ALLEN LEGACY: Seeks to Hire Anderson Bowman as Legal Counsel 145 ALLEN LEGACY: Seeks to Hire Irv Schwarzbaum as Accountant 23ANDME HOLDINGS: States to Get $18MM Under Ch.11 Data Breach Deal 56 THIRD: Employs Morrison Tenenbaum as Legal Counsel 727 LOFTS: Gets Interim OK to Use Cash Collateral 8311 PRESTON: Gets Interim OK to Use Cash Collateral Until Aug. 14 AG GROUP: Case Summary & 13 Unsecured Creditors AINOS INC: Secures US$1.94M Credit Line From CTBC Bank at 2.5% Rate AIR INDUSTRIES: Signs A&R Merger Agreement With Tenax Aerospace ALFASPIRE INC: Seeks Continued Cash Collateral Access ALLIED ELECTRICAL: Case Summary & 20 Largest Unsecured Creditors AMBIPAR EMERGENCY: White & Case's 2nd Amended Rule 2019 Statement APPLE TREE: Cayman Court Ousts Company's Management Team ARAMSCO INC: Moody's Cuts CFR to Caa2 & Alters Outlook to Stable ARM VENTURES: Hires Marcus & Millichap as Refinancing Consultant ARTELLA SOLUTIONS: Gets Extension to Access Cash Collateral ARTERA SERVICES: Moody's Affirms 'Caa1' CFR, Outlook Negative ATERIAN INC: Adjourns Asset-Sale Vote to July 17 AUTOWERKS CSTX: Case Summary & 11 Unsecured Creditors BAILEY VENTURES: Case Summary & 20 Largest Unsecured Creditors BARCA HOLDINGS: Seeks to Tap Iron Horse Auction as Auctioner BIO-KEY INTERNATIONAL: M&K CPAS Named Auditor After Bush Dismissal BLEND COFFEE 1: Amends Unsecured Claims Pay Details BNL ENTERPRISES: Seeks to Hire Sexton Auctioneers as Auctioneer BROADWAY FORD: Committee Hires Summers Compton as Local Counsel BROADWAY FORD: Committee Seeks to Tap Foley & Lardner as Counsel BUILT USA: Gets Interim OK to Use Cash Collateral C & C SECURITY: Employs Bachecki Crom & Co. as Accountant C.S. HOLDINGS: Seeks Subchapter V Bankruptcy in Florida CALITRE LLC: Unsecureds Will Get 100% Dividend over 60 Months CAMP MYSTIC: Families Say Bankruptcy Stay Doesn't Extend to Owners CARRIX INC: Moody's Assigns Ba1 Rating to New $2.5BB Secured Notes CB POLY US: Moody's Affirms 'B3' CFR & Alters Outlook to Stable CEDAR ARCH: Seeks to Tap Richey Grimshaw Evans as Counsel CHASSEUR REALTY: To Sell Jackson Property to Massie Road Dev't COLLABOW INC: Commences Chapter 11 Bankruptcy in California COLLIERCOUNT LLC: Gets Interim OK to Use Cash Collateral CONEJO RIVERSIDE: Hires Raines Feldman Littrell as Legal Counsel CONLIN STREET: Unsecureds Will Get 100% of Claims in Plan CORELOGIC INC: Moody's Rates New Secured First Lien Debt 'B2' CRISCIONE MEYER: Commences Chapter 11 Bankruptcy in California CRISCIONE MEYER: Voluntary Chapter 11 Case Summary CROSSCOUNTRY HOLDCO: Moody's Affirms 'Ba3' CFR, Outlook Stable CYCURION INC: Board Rejects 7-for-1 Reverse Stock Split DARREN CASEY: Case Summary & 13 Unsecured Creditors DISCOUNT WAREHOUSES: Gets Interim OK to Use Cash Collateral E. GLUCK: Wins Approval for Chapter 11 Liquidation Plan ECLIPSE FARMINGDALE: Unsecureds Will Get 13.73% over 60 Months EDEN ROC: Seeks Court Approval to Hire ShemanoLaw as Counsel ELEMENT SOLUTIONS: Moody's Puts 'Ba2' CFR on Review for Upgrade ENDRA LIFE: Regains Compliance With Nasdaq's Minimum Equity Rule ERASE SPA: Seeks Chapter 11 Bankruptcy in New York ERIE KASH: Unsecureds to Get Share of Income for 3 Years ESCAMBIA COUNTY: Case Summary & 20 Largest Unsecured Creditors F-STAR SOCORO: Court OKs Bid Rules for El Paso Properties Sale FAIRWAY AMERICA: Seeks to Hire Sussman Shank as Legal Counsel FAIRWAY AMERICA: Taps Eric Camm of TurningPointe LLC as CRO FAIRWAY AMERICA: Taps Sussman Shank as General Bankruptcy Counsel FLAWLESS CONSTRUCTION: Case Summary & One Unsecured Creditor FOCUS UTILITY: Case Summary & 20 Largest Unsecured Creditors FREE SPEECH: Jones' Co. Opposes Sandy Hook Victims' Stay Appeal GABBY INVESTMENT: Court Denies Lawrence Property Sale GALINDO EMPIRE: Gets Final OK to Use Cash Collateral GENERATIONS ON 1ST: Gets Extension to Access Cash Collateral GENERIC MANUFACTURING: Unsecureds Will Get 7% over 60 Months GOLDENPEAKS POLAND: Hires Alvarez & Marsal as Financial Advisor GOLDENPEAKS POLAND: Seeks to Hire SSW as Special Polish Counsel GOLDENPEAKS POLAND: Taps Pachulski Stang Ziehl & Jones as Counsel GRADE ISLE: Seeks 120-Day Extension of Plan Filing Deadline GREEN TREE: Court Extends Cash Collateral Access to Aug. 4 H.B. FULLER: Moody's Affirms 'Ba2' CFR, Outlook Stable HAMPTON DREAM: Trustee Seeks to Hire Prager Metis as Accountant HAMPTON DREAM: Trustee Seeks to Hire Rimon as Bankruptcy Counsel HARVEST REAL: Unsecured Creditors to be Paid in Full in 60 Months HEALTHY EXTRACTS: Aaron Hefter Steps Down as Chief Brand Officer HEARDMONT HEALTH: No Decline in Resident Care, 3rd PCO Report Says HEARDMONT HEALTH: No Decline in Resident Care, 4th PCO Report Says HIDALGO GROUP: Unsecureds Will Get 1% of Claim over 60 Months HILLMAN GROUP: Moody's Ups CFR to Ba3 & Alters Outlook to Stable HOMETOWN CHIROPRACTIC: Unsecureds to Split $93,600 over 36 Months HUMACYTE INC: Fresenius Holds 6.8% Stake, Adopts 10b5-1 Sale Plan HUNT MEMORIAL: Moody's Assigns Caa1 Issuer Rating, Outlook Stable HYDROFARM HOLDINGS: Receives Nasdaq Delisting Determination HYE NURSES: No Patient Care Concern, 1st PCO Report Says ICEBOX HOLDCO III: Moody's Affirms 'B3' CFR, Outlook Stable INOTIV INC: Gets Court OK for Chapter 11 Plan, Disclosure Statement INSPIRED HEALTHCARE: Whitaker Chalk Represents Investors INTRUSION INC: Tego Cyber Holds 10.4% Equity Stake JELD-WEN HOLDING: BlackRock Reports 2.7% Equity Stake JOHN FITZGIBBON: PCO Reports No Change in Patient Care Quality JUUL LABS: Co, Pritzker Face Court's Second Bailout Challenge KEYLINK ENTERPRISES: Unsecureds to be Paid in Full in Sale Plan KIITOS BREWING: Seeks to Sell Brewery Assets at Auction KINGSBROOK MHC: M. Shapiro's Mark S. Kassab Appointed as Receiver LA TENTACION: Hires Lex Nova Law as General Bankruptcy Counsel LCI INDUSTRIES: Moody's Affirms 'Ba3' CFR, Outlook Stable LEGACY WORLDWIDE: Unsecureds Will Get 51% of Claims over 5 Years LEISURE INVESTMENTS: Opposes Former CEO's Chapter 11 Dismissal Bid LEXARIA BIOSCIENCE: Reports $2 Million Net Loss in Fiscal Q3 LSF12 BADGER: $80MM Incremental Loan No Impact on Moody's 'B2' CFR LUCID GROUP: Shares Dip After Tapping Restructuring Adviser LUGANO DIAMONDS: Gets Conditional Court OK for Plan Disclosures MARAGAL MEDICAL: No Patient Complaints, 2nd PCO Report Says MARTINI FITNESS: Seeks to Hire Carter Group as Real Estate Broker MARTINI FITNESS: Seeks to Hire Ehrhard & Associates as Counsel MEDICAL MANAGEMENT: No Decline in Resident Care, PCO Report Says MEDICAL MANAGEMENT: No Decline in Resident Care, PCO Report Says MEDICAL SOLUTIONS: Moody's Lowers PDR to D-PD Amid Recapitalization MORRISON HOSPITAL: U.S. Trustee Appoints Susan Buxton as PCO NATIONAL MAINTENANCE: Voluntary Chapter 11 Case Summary NETCAPITAL INC: Secures $15 Million Commitment With Hudson Global NOISE ENTERTAINMENT: Unsecureds to Split $7,600 over 60 Months NORDICUS PARTNERS: Andrew Ritter Resigns from Board and Committees NORTH STAR: Moody's Assigns Ba2 Rating to Ser. 2026 Revenue Bonds NORTH STAR: No Patient Care Concern, 2nd PCO Report Says NURIEL & GRACE: Unsecureds to Get 4 Cents on Dollar in Plan OCUGEN INC: MENA License Deal Targets $4M Upfront, $255M Milestones OLIVE BRANCH: Unsecureds to Split $6K via Quarterly Payments ONE SOURCE: Seeks to Hire Goldbach Law Group as General Counsel ONYX PORTFOLIO: To Sell Glenpatti Drive Property to Miguel A. Rojo OPTIMUM COMMUNICATIONS: Kite Lake Group Holds 3.3% Equity Stake OROVILLE HOSPITAL: PCO Says Patient Care Remains Stable PACIFIC CAPITAL: Seeks to Tap Stevens Becker as Special Counsel PACIFIC RIM: To Sell Equipment to Custom Bottling & Cascade Fresh PARA-MED MEDICAL: Hires Adroit Tax and Accounting as Accountant PARADISE ALLEY: Case Summary & 11 Unsecured Creditors PATRICK INDUSTRIES: Moody's Puts 'B1' CFR Under Review for Upgrade PLURI INC: Fails to Meet Nasdaq $35M Market Value Requirement PLUTUS PROPERTIES: Seeks to Hire Compass RE Texas as Estate Broker PROJECT BOOST: S&P Ups ICR to 'B' on Deleveraging, Outlook Stable PROPHASE LABS: Units Reach Tentative Deal to Avoid Chapter 7 Push PROVIDENTIAL LENDING: Affiliate to Sell Phoenix Property REDCOLE PARTNERS: Seeks to Hire Grand Realty as Property Manager RELEASE WELL-BEING: Taps Vincent Servello III CPA PC as Accountant REMEDIUM PHARMACY: Court Extends Cash Collateral Access to July 23 REMEMBER ME SENIOR: PCO Reports No Change in Resident Care RIVERLIGHT DEVELOPMENT: Voluntary Chapter 11 Case Summary ROCKY MOUNTAIN: Allen Harper Holds Stake via American Heritage ROYALE ENERGY: Posts $1.25M Loss in FY2025; Going Concern Persists RTB DIGITAL: Completes Founder and Investor Lock-Up SABLE OFFSHORE: CohnReznick Succeeds HL&B Following Asset Sale SANGAMO THERAPEUTICS: Bid Rules for Medical Biz Asset Sale OK'd SEARLES VALLEY: U.S. Trustee Objects to Adviser Releases in Ch. 11 SEATON INVESTMENTS: To Sell LA Property to Di Nalli Consulting SEPI REALTY: Employs Northgate Real Estate Group as Advisor SEPI REALTY: Hires Law Office of Julio E. Portilla as Counsel SHORT PAR 4: Court Extends Cash Collateral Access to July 22 SILICON VALLEY: Court Told BlackRock's Guidance Was Disregarded SILVERMAN CHIROPRACTIC: Case Summary & 16 Unsecured Creditors SILVERMAN CHIROPRACTIC: Seeks to Tap Gamberg & Abrams as Counsel SLEEP NUMBER: BlackRock Ceases Ownership of Common Stock SLM CORP: Moody's Alters Outlook on 'Ba1' Issuer Rating to Stable SLX - I DRIVE: Claims to be Paid from Property Sale Proceeds SMALL BUSINESS: Faces Possible Receivership Due to Rising Loan Risk SMILES DENTISTRY: Court Directs U.S. Trustee to Appoint PCO SMITH & SON: Voluntary Chapter 11 Case Summary SOLSTICE ADVANCED: Moody's Affirms 'Ba1' CFR, Outlook Stable SPARHAWK LLC: Chapter 11 Trustee Seeks Cash Collateral Access SPHERE 3D: Masiero Group Discloses 6.7% Stake Via Three Trusts ST DESIGN: Seeks Approval to Hire Totaro & Shanahan as Counsel SUNATION ENERGY: AWM Investment Holds 19.9% Equity Stake TELESAT CORP: MHR's Mark Rachesky Reports 35.5% Class B Stake TELESAT CORP: Welcomes Ralph Kittle to Board of Directors THORNCO HOSPITALITY: Seeks Approval to Hire Mitchell Law as Counsel TRACES OF TIGER: Case Summary & Two Unsecured Creditors UNIQUE THIRD: No Patient Complaints, 2nd PCO Report Says UNITED HOSPITAL: Moody's Assigns Ba1 Issuer Rating, Outlook Stable UTICORP INC: Case Summary & 20 Largest Unsecured Creditors UTICORP INC: Seeks to Hire C. Conde & Assoc. as Legal Counsel VANGUARD SURGICAL: William Harbison Submits First PCO Report VEL EVAN: Gets Interim OK to Use Cash Collateral VERASTEM INC: Polar Capital Holds 4.8% Equity Stake VISIONARY PLANNING: Unsecureds Will Get 100% of Claims in Sale Plan VOLUNTEER PHARMACY: Case Summary & 20 Largest Unsecured Creditors VOLUNTEER PHARMACY: Seeks Chapter 11 Bankruptcy in Tennessee WAIN ENTERPRISES: Hires Lamberth Cifelli Ellis & Nason as Counsel WORKHORSE GROUP: Names Jody Davis CFO, Robert Ginnan Steps Down YESCARE CORP: Director Denies Creditors' Misconduct Claims [] BOOK REVIEW: A History of the New York Stock Market ********* 145 ALLEN LEGACY: Seeks to Hire Anderson Bowman as Legal Counsel ---------------------------------------------------------------- 145 Allen Legacy Ltd Liability Co. seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Anderson Bowman, PLLC to handle its Chapter 11 case. The firm will be paid at these hourly rates: Partners $625 Associates $475 Paralegals/Law Clerks $200 The firm received a prepetition retainer of $25,000 from the Debtor. Btzalel Hirschhorn, Esq., an attorney at Anderson Bowman, 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: Btzalel Hirschhorn, Esq. Anderson Bowman, PLLC 80-02 Kew Gardens Rd., Ste. 600 Kew Gardens, NY 11415 Telephone: (718) 263-6800 Email: bhirschhorn@andersonbowman.com About 145 Allen Legacy Ltd Liability Co. 145 Allen Legacy Ltd Liability Co. is a limited liability company engaged in the ownership, management, and administration of business and investment assets, including real estate-related holdings. 145 Allen Legacy Ltd Liability Co. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-42816) on June 8, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. Honorable Bankruptcy Judge Jil Mazer-Marino handles the case. The Debtor tapped Btzalel Hirschhorn, Esq., at Anderson Bowman, PLLC as counsel and Irv Schwarzbaum, CPA, as accountant. 145 ALLEN LEGACY: Seeks to Hire Irv Schwarzbaum as Accountant ------------------------------------------------------------- 145 Allen Legacy Ltd Liability Co. seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Irv Schwarzbaum, a professional practicing in West Orange, New Jersey, as accountant. Mr. Schwarzbaum disclosed in a court filing that he is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The accountant can be reached at: Irv Schwarzbaum, CPA 623 Eagle Rock Avenue, Suite 364 West Orange, NJ 07052 Telephone: (973) 787-0123 Email: ischwarzbaum@vestcorp.ne About 145 Allen Legacy Ltd Liability Co. 145 Allen Legacy Ltd Liability Co. is a limited liability company engaged in the ownership, management, and administration of business and investment assets, including real estate-related holdings. 145 Allen Legacy Ltd Liability Co. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-42816) on June 8, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. Honorable Bankruptcy Judge Jil Mazer-Marino handles the case. The Debtor tapped Btzalel Hirschhorn, Esq., at Anderson Bowman, PLLC as counsel and Irv Schwarzbaum, CPA, as accountant. 23ANDME HOLDINGS: States to Get $18MM Under Ch.11 Data Breach Deal ------------------------------------------------------------------ Brian Steele of Law360 Bankruptcy Authority reports that a coalition representing more than 40 states announced Tuesday, July 14, 2026, that it will recover $18 million from 23andMe under the company's Chapter 11 bankruptcy settlement. The announcement came one week after the bankruptcy court approved a $46.75 million agreement resolving litigation related to a large-scale data breach affecting the DNA testing company. The states alleged that deficiencies in the company's data protection practices contributed to the exposure of consumers' personal information. Their claims were incorporated into the broader settlement, which also resolves claims filed by individuals impacted by the cybersecurity incident, the report states. State officials described the agreement as an important step toward accountability for companies entrusted with highly sensitive consumer information. The settlement also advances 23andMe's restructuring efforts by resolving another significant category of claims in its bankruptcy case, according to Law360. About 23andMe Holding Co. 23andMe Holding Co. is a genetics-led consumer healthcare and biotechnology company in San Francisco, Calif. Through its direct-to-consumer genetic testing, 23andMe offers personalized insights into ancestry, genetic traits, and health risks. The company has developed a large database of genetic information from over 15 million customers, enabling it to provide health and carrier status reports and collaborate on genetic research for drug development. On the Web: http://www.23andme.com/ On March 23, 2025, 23andMe and 11 affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mo. Lead Case No. 25-40976). 23andMe disclosed $277,422,000 in total assets against $214,702,000 in total liabilities as of Dec. 31, 2024. Paul, Weiss, Rifkind, Wharton & Garrison, LLP, Morgan, Lewis & Bockius, LLP and Carmody MacDonald, PC serve as legal counsel to the Debtors while Alvarez & Marsal North America, LLC serve as the restructuring advisor. The Debtors tapped Reevemark, LLC and Scale Strategy Operations, LLC as communications advisors and Kroll Restructuring Administration Services, LLC as claims agent. Lewis Rice LLC, Moelis & Company LLC, and Goodwin Procter LLP serve as special local counsel, investment banker, and legal advisor to the Special Committee of 23andMe's Board of Directors, respectively. Jerry Jensen, Acting U.S. Trustee for Region 13, appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee tapped Kelley Drye & Warren, LLP and Stinson, LLP as legal counsel and FTI Consulting, Inc. as financial advisor. 56 THIRD: Employs Morrison Tenenbaum as Legal Counsel ----------------------------------------------------- 56 Third Food Corp. seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire Morrison Tenenbaum PLLC to serve as legal counsel. The firm will provide these services: (a) advising the Debtor concerning its rights, powers, duties and obligations; (b) preparing petitions, schedules, statements, motions, applications, objections, disclosure statements, plans, reports and other pleadings; (c) representing the company in hearings before the Court; (d) negotiating with creditors, landlords, vendors, taxing authorities and other parties in interest; (e) assisting in the formulation, negotiation, solicitation and confirmation of a Chapter 11 plan; (f) prosecuting and defending contested matters and adversary proceedings; (g) advising regarding claims administration and estate matters; and (h) performing such other legal services as may be necessary in connection with this Chapter 11 case. Prior to the Petition Date, Morrison Tenenbaum PLLC received a retainer of $13,750. The firm seeks compensation for professional services rendered and reimbursement of actual and necessary expenses in accordance with Sections 330 and 331 of the Bankruptcy Code. Morrison Tenenbaum 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: Lawrence Morrison MORRISON TENENBAUM PLLC 87 Walker Street, Second Floor New York, NY 10013 Telephone: (212) 620-0938 ext. 1002 E-mail: lmorrison@m-t-law.com About 56 Third Food Corp. 56 Third Food Corp is a food service and retail company operating in the New York metropolitan area, engaged in the sale and distribution of prepared foods and related products. 56 Third Food Corp sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42646) on May 29, 2026, reporting estimated assets of $0-$100,000 and estimated liabilities of $0-$100,000. Honorable Bankruptcy Judge Jil Mazer-Marino handles the case. The Debtor is represented by Lawrence Morrison, Esq. 727 LOFTS: Gets Interim OK to Use Cash Collateral ------------------------------------------------- 727 Lofts Best Living, LLC received interim approval from the U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division, to use cash collateral to fund its operations. The court on July 16 entered an interim order authorizing the Debtor to use cash collateral based on an approved budget through the final hearing. Under the interim order, the Debtor is not allowed to exceed any budget line item by more than 15% without prior approval from ACRE QO 18 Retention Holder, LLC. ACRE, a secured lender, claims liens on the Debtor's cash and accounts. The lender will be granted adequate protection through replacement liens coextensive with its pre-petition liens. The order is available at http://bankrupt.com/misc/727Lofts_ICCOrder35.pdf The court scheduled a final hearing for Aug. 3 and set a July 29 deadline for filing objections. ACRE, as secured lender, is represented by: Matthew T. Nickel (TX 24056042) Dentons US LLP 100 Crescent Court, Suite 900 Dallas, TX 75201 Phone: (214) 259-0920 matt.nickel@dentons.com About 727 Lofts Best Living LLC 727 Lofts Best Living, LLC owns the 727 Lofts, a multifamily apartment complex in Jenks, Oklahoma, that offers studio, one- and two-bedroom apartments with modern residential amenities to tenants in the Tulsa-area rental market. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 26-32779) on June 25, 2026, with up to $10 million in assets and up to $500,000 in liabilities. Judge Stacey G. Jernigan oversees the case. Joyce Lindauer, Esq., at Lindauer & Vaughn, represents the Debtor as legal counsel. 8311 PRESTON: Gets Interim OK to Use Cash Collateral Until Aug. 14 ------------------------------------------------------------------ The U.S. Bankruptcy Court for the Middle District of Tennessee, Nashville Division, entered a third interim agreed order allowing 8311 Preston Highway LR, LLC to use cash collateral. Under the third interim order, the Debtor is authorized to use cash collateral, including rental income, through August 14, strictly in line with an approved budget and only for ordinary operating expenses. Any use outside the budget requires lender consent or further court approval. The Debtor is not currently permitted to pay its legal fees from cash collateral during this interim period. As adequate protection, the Debtor must maintain a positive DIP account balance and make $20,000 monthly payments to Regions Bank. Additionally, Regions will be granted replacement liens on post-petition receipts but only to the extent necessary to protect against any decline in collateral value, and subject to existing lien priorities. The order is interim in nature and does not determine the validity or priority of liens or claims. All parties, including the debtor, retain the right to challenge the validity, extent, priority, or allowance of secured claims, while Regions preserves its right to object to the payment of the debtor’s professional fees from cash collateral. A continued cash collateral hearing and the related valuation hearing are scheduled for August 11, with the debtor required to file any request for continued cash collateral use beyond August 14, along with supporting budgets, by July 31. Objections must be filed by August 5. A copy of the court's order and the Debtor's budget is available at https://short.do/EeX8hx from PacerMonitor.com. Regions Bank, as secured creditor, is represented by: Erika R. Barnes, Esq. Stites & Harbison, PLLC 401 Commerce Street, Suite 800 Nashville, TN 37219 Telephone: (615) 782-2252 ebarnes@stites.com About 8311 Preston Highway LR LLC 8311 Preston Highway LR, LLC is a Delaware limited liability company that owns commercial real property located at 8311 Preston Highway in Louisville, Kentucky. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Tenn. Case No. 26-00886) on February 27, 2026. In the petition signed by Clifford F. Boyle, member, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Randal S. Mashburn oversees the case. R. Alex Payne, Esq., at Dunham Hildebrand Payne Waldron, PLLC, represents the Debtor as legal counsel. AG GROUP: Case Summary & 13 Unsecured Creditors ----------------------------------------------- Debtor: AG Group Investments LLC 2136 NE 123 St North Miami, FL 33181 Chapter 11 Petition Date: July 13, 2026 Court: United States Bankruptcy Court Southern District of Florida Case No.: 26-19146 Judge: Hon. Peter D Russin Debtor's Counsel: Zach B. Shelomith, Esq. SHELOMITH LAW 2699 Stirling Rd, Suite C401 Fort Lauderdale, FL 33312-6598 Tel: (954) 920-5355 E-mail: zbs@lss.law Estimated Assets: $1 million to $50 million Estimated Liabilities: $1 million to $50 million The petition was signed by Aleksander Sverdlov as managing member. A copy of the Debtor's list of its 13 unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/LD35MTI/AG_Group_Investments_LLC__flsbke-26-19146__0002.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/R6N777Y/AG_Group_Investments_LLC__flsbke-26-19146__0001.0.pdf?mcid=tGE4TAMA AINOS INC: Secures US$1.94M Credit Line From CTBC Bank at 2.5% Rate ------------------------------------------------------------------- Ainos, Inc. announced in a regulatory filing that it entered into a General Agreement for Omnibus Credit Lines with CTBC Bank Co., Ltd., a commercial bank organized under the laws of the Republic of China (Taiwan). Pursuant to the Credit Lines Agreement, CTBC Bank has made available to the Company a short-term unsecured credit facility in an aggregate principal amount of NT$62,000,000 (approximately US$1,937,800). Outstanding borrowings under the Credit Facility bear interest at a negotiated rate of 2.5% per annum. The Credit Facility has a term of three months and matures on September 30, 2026. The Credit Facility is unsecured and contains customary events of default. A full text copy of the General Agreement for Omnibus Credit Lines, English translations of which is available at https://tinyurl.com/y72hrzf3 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: Signs A&R Merger Agreement With Tenax Aerospace --------------------------------------------------------------- Air Industries Group announced in a regulatory filing that it entered into an Amended and Restated Agreement and Plan of Merger with Tenax Aerospace Acquisition, LLC and Transitory Air Sub LLC, which amended and restated the Agreement and Plan of Merger dated February 16, 2026 among AIR, Tenax and Merger Sub, as amended by Amendment No. 1 thereto, dated as of June 8, 2026, in its entirety. Pursuant to the A&R Merger Agreement, Merger Sub will merge with and into Tenax, with Tenax continuing as the surviving company in such Merger and a wholly-owned subsidiary of AIR. Certain capitalized terms used and not defined herein have the meanings ascribed thereto in the A&R Merger Agreement. Pursuant to the terms and subject to the conditions set forth in the A&R Merger Agreement, AIR will issue 126,900,000 shares of AIR Common Stock (25,380,000 shares after giving effect to the 1 for 5 Reverse Stock Split described herein) to the holders of the membership interests of Tenax in connection with the Merger. A portion of the Merger Consideration allocated in respect of membership interests of Tenax underlying certain Tenax warrants that remain unexercised as of the Closing, if any, will be reserved by AIR for future issuance upon the exercise of such warrants. The A&R Merger Agreement further provides that the Debt Adjusted AIR Share Price, as defined therein, shall be $3.05 ($15.25 after giving effect to the 1 for 5 Reverse Stock Split described herein). Each of the Merger Consideration and the Debt Adjusted AIR Share Price is subject to appropriate and equitable adjustment in the event of any subdivision, stock dividend or stock split, combination, recapitalization, exchange or reclassification of AIR Common Stock prior to the Closing (including the 1 for 5 Reverse Stock Split). Following the Closing, the Tenax Members will collectively own approximately 96% of outstanding AIR Common Stock, and the stockholders of AIR as of immediately prior to the Closing will collectively own approximately 4% of outstanding AIR Common Stock. The A&R Merger Agreement also requires that subsequent to the filing and effectiveness of the AIR Charter Amendment, AIR shall cause a certificate of change to be filed with the Secretary of State of the State of Nevada effecting a reverse stock split of the issued and outstanding shares of AIR Common Stock at a ratio of one post-split share of AIR Common Stock for every five pre-split shares of AIR Common Stock while simultaneously reducing the number of authorized shares of AIR Common Stock under the articles of incorporation of AIR (after giving effect to the AIR Charter Amendment) by a corresponding factor, with any fractional share of AIR Common Stock otherwise resulting from the split rounded up to the nearest whole share. The A&R Merger Agreement eliminates the post-Closing tender offer contemplated by the Original Merger Agreement, under which AIR would have been required, within five Business Days following the Closing, to commence a tender offer to purchase up to 1,000,000 shares of AIR Common Stock at a purchase price equal to the Debt Adjusted AIR Share Price if the volume weighted average price of AIR Common Stock during the 20 Trading Days preceding the Closing was less than the Debt Adjusted AIR Share Price. The A&R Merger Agreement further requires that, promptly following the date of the A&R Merger Agreement, AIR file with the U.S. Securities and Exchange Commission a Registration Statement on Form S-4, which will register the shares of AIR Common Stock to be issued to the Tenax Members pursuant to the A&R Merger Agreement, and will include a Proxy Statement/Prospectus relating to the Merger, and the matters to be voted on by the AIR stockholders. Each of AIR and Tenax shall use its reasonable best efforts to cause the Registration Statement to become effective under the Securities Act as promptly as practicable and to keep the Registration Statement effective for so long as necessary to consummate the Merger. Tenax has agreed that at the Closing, Tenax or one of its Affiliates will pay or cause to be paid the indebtedness of AIR due to Webster Bank and Michael and Robert Taglich, directors of AIR, in satisfaction of certain subordinated notes. The A&R Merger Agreement contains customary representations and warranties of the parties, in each case generally subject to customary materiality and other qualifiers, and customary pre-Closing covenants of the parties, including covenants requiring both AIR and Tenax to use reasonable best efforts to: (a) conduct their respective businesses in all material respects in the ordinary course consistent with past practice and refrain from taking certain types of actions without the other party's consent (not to be unreasonably withheld, delayed or conditioned), subject to certain exceptions, and (b) obtain all required regulatory approvals and clearances and consummate the Transactions, subject to certain exceptions and limitations. Under the A&R Merger Agreement, each of AIR and Tenax is subject to customary "no-shop" provisions that restrict AIR and Tenax's ability to solicit competing proposals from third parties, and/or to provide information to third parties and to engage in discussions with third parties, in each case, in connection with competing proposals, subject to certain exceptions. However, under certain circumstances and in compliance with certain obligations set forth in the A&R Merger Agreement, AIR is permitted to provide non-public information and engage in discussions and negotiations with respect to competing proposals that constitute, or are reasonably likely to lead to, a Superior Proposal. Prior to receipt of the AIR Stockholder Approvals, the AIR Board may, in certain limited circumstances, withdraw or modify its recommendation that the AIR Stockholders approve the AIR Charter Amendment (as defined below) or the AIR Stock Issuance or adopt or recommend any Superior Proposal, subject to complying with notice and other specified conditions, including giving Tenax the opportunity to propose revisions to the terms of the transactions contemplated by the A&R Merger Agreement during a match right period. Notwithstanding a Change in the AIR Recommendation by the Board, unless Tenax terminates the A&R Merger Agreement, AIR is still required to convene the meeting of its stockholders to approve the AIR Charter Amendment and the AIR Stock Issuance. The Closing is subject to certain specified conditions, including, among other things: (a) the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Act (which has occurred), (b) the receipt of certain antitrust and government agency approvals and clearances and (c) other customary conditions for a transaction of this type, such as the absence of any legal restraint prohibiting the consummation of the Transactions and there not having occurred with respect to AIR or Tenax's business a material adverse effect, subject to certain customary exceptions. The Closing is not conditioned upon AIR or Tenax's ability to obtain financing for the Transactions. AIR and Tenax filed their respective notification and report forms under the Hart-Scott-Rodino Act, and the applicable waiting period under the Hart-Scott-Rodino Act expired on June 15, 2026. In addition, the Closing will be subject to approval by the AIR Stockholders of: (a) a proposal to amend AIR's Articles of Incorporation to (i) increase the number of authorized shares of AIR Common Stock from 20 million to 200 million and (ii) authorize stockholder action by written consent in lieu of a stockholder meeting at any time while Majority Ownership (as defined in the AIR Charter Amendment) exists and (b) a proposal, in compliance with Section 713(b) of the NYSE American Company Guide, to approve the issuance of the shares of AIR Common Stock constituting the Merger Consideration to the Tenax Members, resulting in a change in control of AIR. As the A&R Merger Agreement requires that the 1 for 5 Reverse Stock Split be effectuated after the filing of the AIR Charter Amendment, unless the parties agree otherwise, the number of authorized shares of AIR Common Stock immediately after the Closing will be 40,000,000, reflecting the proportionate reduction of the 200,000,000 authorized shares of AIR Common Stock (after giving effect to the AIR Charter Amendment) by the 1 for 5 Reverse Stock Split. The Board of Directors of AIR has adopted the A&R Merger Agreement and approved the Transaction Documents and the Transactions, and resolved to recommend that the AIR Stockholders vote in favor of approving the AIR Charter Amendment and the AIR Stock Issuance. The A&R Merger Agreement contains customary termination rights for the benefit of AIR and Tenax, including: (a) if the other party breaches its representations, warranties or covenants under the Merger Agreement to a degree that would cause the failure of the closing conditions (subject to a cure right), (b) if the Closing does not occur on or before September 30, 2026, (c) if a governmental authority has enacted, issued, promulgated, enforced or entered any law, whether temporary, preliminary or permanent, which is then in effect and has the effect of enjoining, restraining, prohibiting or otherwise preventing the consummation of the Transactions, (d) if the AIR Stockholders fail to approve the AIR Charter Amendment or the AIR Stock Issuance or (e) if AIR and Tenax mutually consent to termination in writing. The A&R Merger Agreement also contains customary termination rights: (a) for Tenax, if AIR makes a Change in the AIR Recommendation an (b) for AIR, (i) if Tenax fails to close the Merger within a specified period after all closing conditions have been satisfied or AIR's delivery of a written notice to Tenax that all of Tenax's closing conditions have been satisfied or waived or that AIR is willing to waive any unsatisfied conditions or (ii) to accept a Superior Proposal. If the A&R Merger Agreement is terminated under certain other specified circumstances, AIR or Tenax will be required to pay a termination fee. AIR will be required to pay Tenax a termination fee of $1,250,000 if AIR terminates the A&R Merger Agreement to accept a Superior Proposal or Tenax terminates the A&R Merger Agreement because the AIR Board has made a Change in the AIR Recommendation. Tenax will be required to pay AIR a termination fee of $1,250,000 under specified circumstances, including if AIR terminates the A&R Merger Agreement as a result of Tenax's material breach of the A&R Merger Agreement or Tenax's failure to close the Merger within a specified period after all closing conditions have been satisfied or AIR's delivery of a written notice to Tenax that all of Tenax's closing conditions have been satisfied or waived or that AIR is willing to waive any unsatisfied conditions. In the event that either AIR or Tenax terminates the A&R Merger Agreement following a meeting of the AIR Stockholders at which the AIR Stockholders fail to approve the AIR Charter Amendment and the AIR Stock Issuance, AIR shall reimburse Tenax for Tenax's reasonable and documented out-of-pocket costs and expenses incurred in connection with the execution of the A&R Merger Agreement and the consummation of the Merger, up to $500,000. Support Agreements In connection with the execution of the Original Merger Agreement, on February 16, 2026, certain stockholders of AIR entered into an AIR Stockholder Support Agreement with Tenax, pursuant to which the Supporting Stockholders agreed, among other things, to vote their shares of AIR Common Stock in favor of the AIR Charter Amendment and the AIR Stock Issuance and against any competing proposal. The AIR Stockholder Support Agreement, which by its terms applies to the Merger Agreement as amended from time to time, remains in full force and effect and was not amended in connection with the A&R Merger Agreement. In connection with the execution of the A&R Merger Agreement, on July 2, 2026, Tenax Members holding a majority in voting power of the outstanding membership interests of Tenax entered into an Amended and Restated Tenax Member Support Agreement with AIR and Tenax, pursuant to which the Consenting Members agreed, among other things, to consent to the Merger and the terms and provisions of the Transaction Documents and not to transfer their Tenax units prior to the applicable expiration date. Redemption Rights Agreement Prior to the Closing, AIR will declare and issue as a dividend to AIR Stockholders as of the Business Day immediately prior to the Closing Date a right to cause AIR to redeem shares of AIR Common Stock that such AIR Stockholders then own and continue to own on the first anniversary of the Closing. Such redemption rights will entitle the holders thereof to require AIR to purchase all or a portion of such AIR Stockholder's shares of AIR Common Stock for a redemption price, payable in cash, equal to 107.3% of the Debt Adjusted AIR Share Price, if the volume weighted average price of AIR Common Stock during the 20 Trading Days preceding the first anniversary of the Closing is lower than 107.3% of the Debt Adjusted AIR Share Price. Such redemption rights will not be transferable. Lock-Up Agreements and Registration Rights Agreement In connection with the execution of the Original Merger Agreement, on February 16, 2026, AIR and Thomas Foley, Chief Executive Officer, Chairman and a director of Tenax, and Taran Bakker, a director of Tenax, entered into Lock-Up Agreements restricting transfers of AIR Common Stock held directly or indirectly by Mr. Foley and Mr. Bakker for 180 days after the Closing. In addition, prior to the Closing, AIR and the Tenax Members will enter into a Registration Rights Agreement granting: (i) Mr. Foley and Mr. Bakker and certain of their respective affiliates customary demand rights and (ii) the Tenax Members piggyback registration rights, in each case for the resale of the shares of AIR Common Stock held by the Tenax Members. A full text of the A&R Merger Agreement and the Transaction Documents that are exhibits thereto is available at https://tinyurl.com/36vm6b24 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 $59.22 million in total assets, $40.07 million in total liabilities, and $19.15 million in total stockholders' equity. ALFASPIRE INC: Seeks Continued Cash Collateral Access ----------------------------------------------------- Alfaspire, Inc. asks the U.S. Bankruptcy Court for the Southern District of Florida for authority to use cash collateral, retroactive to May 14. Founded in 2014 by Bresly and Carla Jaramillo, the Debtor operates a commercial damage restoration, cleanup, and recovery business. The Debtor faces significant liabilities, including a $1,000,259 debt to the U.S. Small Business Administration, which has asserted a $96,607.05 secured claim—and an outstanding obligation to Kapitus, LLC, which filed a UCC-1 financing statement in August 2025. To determine the exact scope of the cash collateral, the Debtor adjusted its asset valuations. While its accounts receivable total $30,530 and its furniture and equipment carry a book value of $236,990, the Debtor notes that $153,402 of that equipment consists of commercial vehicles. Because the creditors failed to note their liens on the vehicles' titles as required by Florida law, the debtor asserts those vehicle liens are unperfected. This reduces the total validly secured collateral to $114,117. The Debtor argues that immediate access to this cash collateral is vital to fund daily operations and maintain its going-concern value. To protect the creditors' interests against any potential depreciation, the Debtor proposes granting them replacement liens on post-petition assets to the same extent and priority as existed on the petition date. Backed by a three-month budget projecting positive cash flow, the Debtor maintains that using these funds is a prudent exercise of business judgment that will benefit all creditors, whereas a denial would force the business to shut down completely. A copy of the motion is available at https://urlcurt.com/u?l=ViGwtp from PacerMonitor.com. About Alfaspire Inc. Alfaspire, Inc., doing business as Servpro of Doral, filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-16267) on May 14, 2026, with $100,001 to $500,000 in assets and $1 million to $10 million in liabilities. Judge Corali Lopez-Castro presides over the case. Christina Vilaboa-Abel, Esq., represents the Debtor as legal counsel. ALLIED ELECTRICAL: Case Summary & 20 Largest Unsecured Creditors ---------------------------------------------------------------- Debtor: Allied Electrical Group of Texas, Inc. 10445 Vista Park Road Dallas, TX 75238 Business Description: Allied Electrical Group of Texas, Inc. is a Dallas, Texas-based commercial and industrial electrical and lighting contractor serving the Dallas-Fort Worth area since 2012. The company provides electrical construction and design/build services, tenant improvements, facility maintenance, notification- system and genset installation, building service upgrades, and electrical and lighting repairs. Its project experience includes movie theaters, high-rises, hospitals, municipal buildings, military bases, hotels, and distribution facilities. The company states that it is woman-owned and a historically underutilized business. Chapter 11 Petition Date: July 14, 2026 Court: United States Bankruptcy Court Northern District of Texas Case No.: 26-33156 Debtor's Counsel: Laurance C. Boyd, Esq. THE LAW OFFICE OF LAURANCE C. BOYD, PLLC 17240 Hillcrest Road, Suite 138 Dallas Texas 75230 Tel: (972) 460-5600 E-mail: larry@lcboyd-law.com Estimated Assets: $100,000 to $500,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Christine Delgado as president. 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/C5X3PUQ/Allied_Electrical_Group_of_Texas__txnbke-26-33156__0001.1.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/CSSFVEI/Allied_Electrical_Group_of_Texas__txnbke-26-33156__0001.0.pdf?mcid=tGE4TAMA AMBIPAR EMERGENCY: White & Case's 2nd Amended Rule 2019 Statement ----------------------------------------------------------------- In the Chapter 11 bankruptcy cases of Ambipar Emergency Response and its debtor-affiliates, White & Case LLP filed with the United States Bankruptcy Court for the Southern District of Texas, Houston Division, a Second Amended Verified Statement pursuant to Bankruptcy Rule 2019 to inform the Court that the firm represents an ad hoc group of lenders and financing providers under debentures, working capital loans, and other financial instruments with debtor-affiliates that are also joint debtors (the RJ Debtors) in the jointly administered plenary judicial reorganization proceeding under Brazilian Federal Law No. 11.101/2005 pending before the 3rd Business Court of Rio de Janeiro. The RJ Debtors have been substantively consolidated, pursuant to their request submitted before the filing of this chapter 11 case, by order of the RJ Court, and are jointly liable for all claims against any RJ Debtor under Brazilian law. Each member of the Ad Hoc Group of Financial Creditors has indicated to Counsel that it holds disclosable economic interests, or acts as investment manager, advisor, or affiliate to funds and/or accounts that hold disclosable economic interests, in relation to the Debtor. Nothing contained in this Statement is intended or shall be construed to constitute: (i) a waiver or release of any claims against or equity interests in the Debtor by any of the members of the Ad Hoc Group of Financial Creditors or any of their respective affiliates, (ii) an admission with respect to any fact or legal theory, or (iii) a limitation or waiver of any rights of any members of the Ad Hoc Group of Financial Creditors or any of their respective affiliates to assert, file, and/or amend any claim or proof of claim in accordance with applicable law and any orders entered in this Chapter 11 Case. The information contained in this Statement is provided only for the purposes of complying with Bankruptcy Rule 2019 and is not intended for any other use or purpose. Counsel reserves the right to amend or supplement this Statement as may be necessary in accordance with the requirements outlined in Bankruptcy Rule 2019. The names, addresses, nature, and amount of all disclosable economic interests of each present member of the Ad Hoc Group of Financial Creditors in relation to the Debtors, are: 1. Banco ABC Brasil S.A. São Paulo, SP, Avenida Cidade Jardim, No. 803, 2nd floor, 01453-000 Name and Amount of Claims Loan Agreement No. LA-35.0007/25: US$ 651,857.94 Cash Flow SWAP Agreement No. 16616425: US$$ 93,650.86 Loan Agreement No. LA-35.0029/25: US$ 365,635.77 Cash Flow SWAP Agreement No. 16801625: US$32,191.10 Loan Agreement No. LA-35.0163/24: US$1,345,846.83 Cash Flow Swap Agreement No. 16166024: US$85,534.82 Loan Agreement No. LA-35.0164/24: US$1,656,426.88 Cash Flow Swap Agreement No. 16166124: US$ 105,273.63 Loan Agreement No. LA-35.0174/24: US$ 593,017.85 Cash Flow Swap Agreement No. 16246524: US$ 58,855.98 Loan Agreement No. LA-35.0177/24: US$ 8,084,073.36 Cash Flow Swap Agreement No. 16266324: US$ 889,047.31 2. Banco Bradesco S/A Osasco, SP, Cidade de Deus, s/n, Vila Yara, 06029-900 Name and Amount of Claims Bradesco Debentures: US$ 40,774,678.98 CCB 16716957: US$ 1,816,794.23 Stock Bookkeeping Service: US$ 6,417.52 Stock Bookkeeping Service: US$ 327.82 CCB 15963687: US$ 40,726.69 CCB 16158213: US$ 11,341.70 CCB 16158212: US$ 9,419.08 CCB 16205190: US$ 623,791.75 Visa Credit Card Statement: US$ 36,242.84 Elo Credit Card Statement: US$10,145.74 3. Banco Sumitomo Mitsui Brasileiro S/A São Paulo, SP, Avenida Paulista, No. 37, 11th and 12th Floors, 01311-902 Name and Amount of Claims EESG13 Debentures: US$ 95,911,619.33 4. Banco do Brasil S.A. Brasilia, Setor de Autarquias Norte, Quadra 5, Bloco B, Asa Norte, Brasilia-DF, 70.040-912 Name and Amount of Claims BB Digital Working Capital Credit Facility 340604200: US$ 1,063,334.68 BB Corporate Financing Loan 251329767: US$ 21,804.73 BB Digital Working Capital Bank Credit Note 251331046: US$ 171,129.21 BB Digital Working Capital Bank Credit Note 251331567: US$ 149,867.16 BB FCO Commercial Development Credit 328312210: US$ 6,842.59 BB Auto Consortium 3585603: US$ 926.66 BB Export Credit 250010396: US$ 2,904,095.64 Ourocard Business Visa 172302492: US$ 7,250.29 CETIP-Registered Debentures 2385: US$ 65,743,513.81 BB Working Capital Credit Facility 191101476: US$ 65,702,692.30 BB Digital Working Capital Credit Facility 191101489: US$ 153,139.20 Import Financing Buyer’s Credit 250017247: US$ 1,182,016.00 BB Digital Working Capital Bank Credit Note 808404607: US$ 158,787.65 Business Card Charges: US$ 1,598.25 BB Corporate Financing 2122278: US$ 20,173.86 BB Auto Consortium 2780595: US$ 2,981.22 BB Auto Consortium 2780634: US$ 2,981.22 BB Digital Working Capital Bank Credit Note 002.122.758: US$ 249,406.35 BB FCO Commercial Development (Banker's Acceptance): US$ 8,784.62 BB FCO Commercial Development Credit Facility 336003971: US$ 54,216.68 Checking Account Fee 316887: US$ 47.48 BB Guaranteed Account Bank Credit Note 808.405.196: US$ 194,739.06 BB Digital Working Capital Credit Facility 808405424: US$ 154,423.33 BB Digital Working Capital Credit Facility 808406261: US$ 544,901.36 BB Corporate Financing 2122089: US$ 37,270.76 Conventional Corporate Leasing (Aircraft Financing) 239751: US$ 33,969,652.58 Counsel to the Ad Hoc Group of Financial Creditors: Charles R. Koster, Esq. WHITE & CASE LLP 609 Main Street, Suite 2900 Houston, TX 77002 Tel: (713) 496-9700 Email: charles.koster@whitecase.com – and – Richard S. Kebrdle, Esq. WHITE & CASE LLP 200 South Biscayne Boulevard, Suite 4900 Miami, FLA 33131 Tel: (305) 371-2700 Email: rkebrdle@whitecase.com – and – John K. Cunningham, Esq. Ricardo Pasianotto, Esq. WHITE & CASE LLP 1221 Avenue of the Americas New York, NY 10022 Tel: (212) 819-8200 Email: jcunningham@whitecase.com ricardo.pasianotto@whitecase.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 Debtors’ noticing agent. White & Case LLP represents an ad hoc group of lenders and financing providers. APPLE TREE: Cayman Court Ousts Company's Management Team -------------------------------------------------------- Emily Lever of Law360 Bankruptcy Authority reports that a judge in the Cayman Islands has appointed independent officers to manage Apple Tree Life Sciences Inc., siding with a fund connected to one of the company's longtime investors in a dispute over corporate control. The order temporarily removes existing management from directing the company's affairs while the case proceeds. The investor argued that independent oversight was needed to preserve the company's value and address concerns surrounding its governance. The request formed part of a broader effort to challenge the actions of current leadership and establish greater accountability during the litigation, the report states. The court concluded that appointing neutral officers was appropriate under the circumstances, allowing them to assume responsibility for the company's operations pending further proceedings. The decision marks an important milestone in the ongoing battle over control of the life sciences investment company, according to Law360. About Apple Tree Life Sciences Apple Tree Life Sciences, Inc., legally known as Apple Tree Life Sciences, Inc., is a life sciences venture capital firm that forms and invests in healthcare and biotechnology companies from early stage concepts through public market offerings. The firm provides flexible capital and works with venture partners and entrepreneurs-in-residence to develop research-driven enterprises in the therapeutics sector. Its activities span company creation at stages ranging from pre-intellectual-property ideas to asset spinouts. Apple Tree Life Sciences, Inc. and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-12177) on Dec. 9, 2025. In its petition, the Debtor reports estimated liabilities between $1 billion and $10 billion estimated liabilities between $100,000 and $500,000. Bankruptcy Judge Laurie Selber Silverstein handles the case. The Debtors' General Bankruptcy Co-Counsel is POTTER ANDERSON & CORROON LLP. The Debtors' General Bankruptcy Co-Counsel is QUINN EMANUEL URQUHART & SULLIVAN, LLP. The Debtors' Financial & Restructuring Advisor is B. RILEY. The Debtors' Cayman Law Counsel is WALKERS. ARAMSCO INC: Moody's Cuts CFR to Caa2 & Alters Outlook to Stable ---------------------------------------------------------------- Moody's Ratings downgraded Aramsco, Inc.'s (Aramsco) corporate family rating to Caa2 from Caa1, its probability of default rating to Caa2-PD from Caa1-PD and its backed senior secured first lien term loan to Caa2 from Caa1. The outlook has been changed to stable from negative. The downgrade reflects the continued weakness in Aramsco's operating performance and weak liquidity with negative free cash flow expected in 2026. Rising operating expenses, driven by inflation, growth investments and costs related to the Jon-Don asset acquisition, have led to an adjusted EBITDA margin of 5.4% for the last 12 months (LTM) ended March 31, 2026, down from about 12.4% in 2023. As a result, credit metrics are very weak, with adjusted debt/EBITDA of 16.7x and adjusted EBITDA/interest expense of 0.7x. Moody's expects performance will remain challenged but project adjusted debt/EBITDA to improve as the Jon-Don transaction costs roll off the LTM period. The stable outlook reflects the absence of near-term debt maturities, with the asset-based lending (ABL) facility expiring in October 2028 and Moody's expectations that availability under the facility will remain in the $40 million-$50 million range in 2026. RATINGS RATIONALE Aramsco's Caa2 CFR is constrained by its very weak credit metrics, weak liquidity and small scale. The CFR is also constrained by Aramsco's acquisitive growth strategy, which comes with execution and integration risk. Aramsco's industry is very fragmented which also increases the likelihood of future consolidation. However, Moody's do not expect the company to make acquisitions until credit metrics significantly improve. According to the company, it has a leading position as a distributor to specialty contractors and facility maintenance professionals. While some of its products are susceptible to cyclicality, the essential and consumable nature of its products is a partial mitigant. The company also benefits from the absence of near-term debt maturities and Moody's expectations that the company will maintain modest availability under its ABL. Aramsco's liquidity position is weak with consistently negative funds from operations but Moody's expects the company to maintain modest availability under its ABL. The credit facility contains a minimum fixed charge coverage ratio of 1x that is tested when the revolver availability is less than the greater of 10% of the line cap or $6 million. The company is expected to remain in compliance with the covenant as it is unlikely to be triggered given the expected availability under the ABL. However, if it were to be triggered the company's fixed charge coverage ratio is likely below 1x. All assets are fully encumbered, leaving little to no alternate liquidity sources. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if operating performance meaningfully improves, including earnings recovery and consistently positive free cash flow. An upgrade would require adequate liquidity, including refinancing the company's ABL in a timely manner. The ratings could be downgraded if profitability, free cash flow and liquidity deteriorate from current levels. The ratings could also be downgraded should the probability of default increase for any reason or if recovery prospects decline for any reason. The principal methodology used in these ratings was Distribution and Supply Chain Services published in November 2025. Headquartered in Radnor, PA, Aramsco is a distributor of restoration, abatement, facility maintenance, traffic safety, professional cleaning, surface preparation, and stone care products selling to specialty contractors and facility maintenance professionals throughout the U.S. and Canada. Revenue for the LTM period ended March 31, 2026, was over $600 million. The company is owned by American Securities LLC. ARM VENTURES: Hires Marcus & Millichap as Refinancing Consultant ---------------------------------------------------------------- Arm Ventures, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Marcus & Millichap Capital Corporation as refinancing consultant. The firm's services include: (a) act as the Debtor's non-exclusive agent with respect to obtaining financing for its real property; (b) prepare an offering/investment memorandum for distribution to potential financing sources; (c) solicit offers to finance, term sheets, and loan commitments; (d) assist the Debtor in evaluating financing proposals received from the lenders; (e) facilitate communication and negotiation between the Debtor and potential lenders; (f) coordinate due diligence and documentation requirements; and (g) assist in guiding the financing transaction through closing. The Debtor will pay the firm a commission equal to 1 percent of the aggregate financing proceeds, plus a processing fee of $500. Todd Phillips, a managing director of Marcus & Millichap Capital Corporation, 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: Todd Phillips Marcus & Millichap Capital Corporation 23975 Park Sorrento, Suite 400 Calabasas, CA 91302 Telephone: (818) 212-2250 About Arm Ventures LLC Arm Ventures LLC is a Florida limited liability company with its principal address at 755 W. 41st Street, Miami Beach, Florida 33140. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-22944) on Oct. 31, 2025. The Debtor previously filed a Chapter 11 petition (Bankr. S.D. Fla. Case No. 16-23633) on October 4, 2016. This bankruptcy case was closed on May 15, 2017. At the time of the recent filing, the Debtor listed assets of between $1,000,001 to $10 million and liabilities of between $1,000,001 to $10 million. Judge Laurel M. Isicoff (LMI) oversees the new case. Joel M. Aresty, PA is the Debtor's legal counsel. ARTELLA SOLUTIONS: Gets Extension to Access Cash Collateral ----------------------------------------------------------- Artella Solutions, Inc. received sixth interim approval from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, to use cash collateral. Under the sixth interim order, the Debtor is permitted to use cash collateral in line with an approved budget, subject to a 10% variance, on a rolling basis until the final hearing. The use of funds must also remain consistent with the terms of a separate DIP financing order with Pulse Layer, Inc., and in case of conflict, the DIP order governs. The Debtor projects 4-Weeks total operational expenses of $609,731.00. As adequate protection, the U.S. Small Business Administration and other secured creditors will be granted replacement liens on post-petition assets, maintaining their pre-petition priority. However, these liens are subordinate to the DIP lender's senior liens, and certain assets such as avoidance actions and DIP collateral are excluded from the replacement liens. The order also requires the Debtor to remain current on taxes, maintain insurance, and file monthly operating reports. All creditor rights are preserved, including the ability to seek modifications or object to improper use of funds. A final hearing is scheduled for August 10. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/nxI4d from PacerMonitor.com. About Artella Solutions Inc. Artella Solutions, Inc provides remote patient monitoring solutions focused on cardiac rhythm management. It is a Texas corporation and a wholly owned subsidiary of CorMedica Group, Inc. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-31092) on February 19, 2026). In the petition signed by Patrick Magill, president, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Jeffrey P. Norman oversees the case. Melissa A. Haselden, Esq., at Haselden Farrow, PLLC, represents the Debtor as legal counsel. ARTERA SERVICES: Moody's Affirms 'Caa1' CFR, Outlook Negative ------------------------------------------------------------- Moody's Ratings affirmed Artera Services, LLC's (Artera) Caa1 corporate family rating and Caa1-PD probability of default rating. The ratings for its backed senior secured first-lien revolving credit facility, backed senior secured first-lien term loan, and backed senior secured first-lien notes were also affirmed at Caa1. The ratings outlook remains negative. RATINGS RATIONALE Artera has materially underperformed relative to the expectations established at the time of its 2024 refinancing. This underperformance reflects a combination of lower profitability stemming from weak operational execution on several gas transmission projects and the loss of a significant utility customer in the Northeast. The business benefits from favorable medium- to long-term industry fundamentals, as gas utilities continue to replace aging infrastructure and outsource engineering and construction services to contract service providers. Recurring maintenance, repair, and upgrade work on gas distribution networks accounts for more than 75% of Artera's revenue, providing a measure of revenue stability. In addition, Artera's limited exposure to fixed price contracts, at approximately 25%, moderates some margin volatility. The rating also reflects adequate liquidity, supported by EBITDA add-backs for covenant calculation purposes and limited near-term debt maturities. The meaningful reduction in annual cash interest expense associated with the 2024 recapitalization has not been sufficient to offset the recent decline in EBITDA, resulting in sustained negative free cash flow. Cash flow has also been pressured by increased working capital usage and cash costs related to restructuring and operational improvement initiatives. Management has indicated that most non-recurring expenses were phased out in 2025, which could support closer alignment between cash EBITDA and company-reported adjusted EBITDA in 2026. Absent a material improvement in cash EBITDA, Artera will remain exposed to continued negative free cash flow and further erosion of its liquidity cushion. Moody's expects Artera's financial leverage, measured as Moody's-adjusted Debt/EBITDA, to improve from 14.1x as of the LTM period ended March 31, 2026, to roughly 10.3x over the next 12 to 18 months. A reasonably constructive demand backdrop and gradual margin improvement on troubled gas transmission projects should support near term EBITDA growth. Moody's expects cash flow deficits to narrow, although free cash flow will likely remain negative over the next 12 to 18 months. While Artera does not face near-term refinancing risk, credit metrics are expected to remain weak for the current rating category. Demonstrating a path to sustainable free cash flow generation will be important to support the refinancing of debt maturities later in the decade. Outlook The negative outlook reflects Moody's expectations that credit metrics will remain weak over the next 12 to 18 months. The outlook also incorporates the risk of a potential deterioration to the liquidity profile due to continued negative free cash flow generation. Liquidity Artera has adequate liquidity supported by $24 million of cash on hand and $159 million of remaining availability (net of outstanding LCs) under its $211 million revolver as of March 2026. The revolver matures in 2029 and is subject to a maximum first lien leverage ratio covenant of 9.0x, which is tested when revolver utilization exceeds the greater of $100 million and 40% of the revolver commitment. Artera also has a $450 million AR securitization facility that matures in 2028, with $160 million of outstanding borrowings and $69 million of outstanding letters of credit as of March 2026. Structural Considerations Artera's first lien senior secured credit facilities, which include the revolver due February 2029 and the first lien term loan due February 2031, are rated Caa1, which is commensurate with the Caa1 corporate family rating. The company's senior secured notes, which rank pari passu basis with the first lien senior secured credit facilities, are also rated Caa1. The ratings reflect the junior-ranking position of the first lien secured credit facilities and notes with respect to the $450 million securitization facility due November 2028, which is secured on a first lien basis by the company's accounts receivable. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Artera's ratings could be upgraded if the company's Moody's-adjusted leverage is sustained below 6.0x, EBITDA / Interest Expense remains above 2.0x, and the company consistently generates positive free cash flow. Artera's ratings could be downgraded if financial performance continues to deteriorate, and Moody's-adjusted leverage is sustained above 7.5x, EBITDA / Interest Expense remains below 1.0x, and the company consistently generates negative free cash flow. A material reduction in liquidity could also result in a downgrade. Profile Headquartered in Atlanta, Georgia, Artera Services, LLC is a provider of repair, maintenance, replacement, and installation services to the distribution and small transmission segments of the gas utility industry. The company operates primarily in the East, South, Northeast, and Midwest regions of the United States. Its customers are primarily natural gas utilities and midstream operators. The company generated revenue of about $2.4 billion for the last twelve months ended March 2026. Clayton, Dubilier & Rice ("CD&R") acquired the majority ownership of the company in 2018. The principal methodology used in these ratings was Construction published in November 2025. ATERIAN INC: Adjourns Asset-Sale Vote to July 17 ------------------------------------------------ Aterian, Inc. adjourned a special stockholder meeting without conducting business after it lacked sufficient votes to approve the sale of substantially all its assets. The company will reconvene the meeting July 17, 2026, at 9:30 a.m. Eastern time, according to a Form 8-K filing with the Securities and Exchange Commission. Aterian said 5,278,277 shares, representing 48.65% of shares eligible to vote as of the May 29 record date, were present virtually or represented by proxy, constituting a quorum. The proposed sale is governed by an April 27 asset purchase agreement with Trademark Global, LLC. Aterian said no changes were made to the proposals, and previously submitted proxies will remain valid unless revoked. About Aterian, Inc. Aterian, Inc. is a New Jersey-based consumer-products company that sells primarily through Amazon, Walmart, Target and its own direct-to-consumer websites. Its product categories include home and kitchen appliances, kitchenware, air-quality appliances, health and beauty products, and essential oils. Its brands include Squatty Potty, HomeLabs, Mueller Living, PurSteam, Healing Solutions and Photo Paper Direct. The company also maintains offices in China, the Philippines and the United Kingdom. In an audit report dated March 20, 2026, UHY LLP included a going-concern paragraph, citing recurring operating losses and negative operating cash flows since inception, and the risk that Aterian may be unable to fund day-to-day operations or remain in compliance with credit-facility covenants. The conditions raised substantial doubt about Aterian's ability to continue as a going concern. As of March 31, 2026, Aterian had total assets of $22.2 million, total liabilities of $12.67 million and total stockholders' equity of $9.53 million. AUTOWERKS CSTX: Case Summary & 11 Unsecured Creditors ----------------------------------------------------- Debtor: Autowerks CSTX, LLC 4000 Victoria Ave College Station, TX 77845-4794 12345678901234567890123456789012XX56789012345678901234567890123456 Business Description: AutoWerks is a family-owned independent automotive service facility established in 1975 and located in College Station, Texas. The company provides scheduled maintenance, diagnostics, oil changes, brake and drivetrain work, climate-control service, alignments, and other vehicle repair services. AutoWerks exclusively services European automobile brands including BMW, Jaguar, Land Rover, Mercedes, MINI, Porsche, Rolls-Royce, and Volvo. Chapter 11 Petition Date: July 13, 2026 Court: United States Bankruptcy Court Southern District of Texas Case No.: 26-35062 Judge: Hon. Eduardo V Rodriguez Debtor's Counsel: Robert C Lane, Esq. THE LANE LAW FIRM 6200 Savoy Dr Ste 1150 Houston TX 77036-3369 Tel: (713) 595-8200 Fax: (713) 595-8201 E-mail: notifications@lanelaw.com Total Assets: $81,077 Total Liabilities: $2,600,092 The petition was signed by William R. Marden as owner. A full-text copy of the petition, which includes a list of the Debtor's 11 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/LFMBPNQ/Autowerks_CSTX_LLC__txsbke-26-35062__0001.0.pdf?mcid=tGE4TAMA BAILEY VENTURES: Case Summary & 20 Largest Unsecured Creditors -------------------------------------------------------------- Debtor: Bailey Ventures, LLC Air Services Unlimited 17040 I-10 Vidor, TX 77662 Business Description: Bailey Ventures, LLC, doing business as Air Services Unlimited, provides heating, ventilation, air-conditioning, refrigeration and electrical contracting services from Vidor, Texas. The company serves residential, commercial and industrial customers and maintains a fleet of service vans and pickup trucks to support its field operations. Bailey Ventures also owns commercial, residential and undeveloped real estate in Vidor, Kountze and Brookeland, Texas. Chapter 11 Petition Date: July 6, 2026 Court: United States Bankruptcy Court Southern District of Texas Case No.: 26-80477 Judge: Hon. Alfredo R Perez Debtor's Counsel: Russell Van Beustring, Esq. RUSSELL VAN BEUSTRING, P.C. 5110 Waterbeck St Weston Lakes, TX 77441-4100 Tel: (713) 973-6650 E-mail: russell@beustring.com Total Assets: $1,591,200 Total Liabilities: $4,211,912 The petition was signed by Edward S. Bailey as president. 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/VYKNHXI/Bailey_Ventures_LLC__txsbke-26-80477__0001.0.pdf?mcid=tGE4TAMA BARCA HOLDINGS: Seeks to Tap Iron Horse Auction as Auctioner ------------------------------------------------------------ Barca Holdings Corporation seeks approval from the U.S. Bankruptcy Court for the Western District of North Carolina to hire Iron Horse Auction Co., Inc. to serve as auctioneer for the sale of certain real properties of the bankruptcy estate. The firm will provide these services: (a) supply a sufficient amount of auctioneers, bid assistants, clerks, cashiers, as well as any other persons deemed necessary to properly perform an online auction; (b) conduct the auction or auctions of the real estate online using an Internet Service Provider chosen by the firm; (c) conduct all advertising, promotion, and advertising layout through its in-house advertising agency; (d) maintain the real estate and have it in saleable condition on the day of the sale; (e) be responsible for the payment of the services of auctioneers, bid assistants, clerks, cashiers, and other persons hired to perform the auction; and (f) use its professional skill, knowledge, and experience in preparing for and conducting the auction. Iron Horse Auction Co., Inc. will receive no commission on the sale of the properties but will be entitled to charge a 10% buyer's premium directly to the purchaser, which is not an expense chargeable to the bankruptcy estate. Additionally, the firm or an affiliate may charge the bankruptcy estate a marketing fee not to exceed $3,000. Iron Horse Auction Co., Inc. 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: William B. Lilly, Jr. IRON HORSE AUCTION CO., INC. 174 Airport Road Rockingham, NC 28379 About Barca Holdings Corporation Barca Holdings Corporation in Kannapolis, NC, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. W.D.N.C. Case No. 24-31048) on Nov. 29, 2024, listing $1,260,700 in assets and $2,046,626 in liabilities. Brian L. White as president, signed the petition. Judge Ashley Austin Edwards oversees the case. MOON WRIGHT & HOUSTON, PLLC serve as the Debtor's legal counsel. BIO-KEY INTERNATIONAL: M&K CPAS Named Auditor After Bush Dismissal ------------------------------------------------------------------ BIO-key International, Inc. announced in a regulatory filing that the Audit Committee of the Board of Directors approved the engagement of M&K CPAS, PLLC as the Company's independent registered public accounting firm and on July 7, 2026, dismissed Bush & Associates CPA LLC as the Company's independent registered public accounting firm. Bush & Associates was retained to serve as the Company's independent registered public accounting firm on April 24, 2024. The audit report of Bush & Associates on the Company's consolidated financial statements as of and for the fiscal years ended December 31, 2024 and December 31, 2025 did not contain an adverse opinion or a disclaimer of opinion, and was not qualified or modified as to uncertainty, audit scope or accounting principles except that the reports included an explanatory paragraph raising substantial doubt about the Company's ability to continue as a going concern. During the Company's two most recent fiscal years ended December 31, 2024 and 2025, and the subsequent interim period through July 7, 2026, there were: (i) no disagreements (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) between the Company and Bush & Associates on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Bush & Associates, would have caused Bush & Associates to make reference thereto in its reports on the Company's consolidated financial statements for the years ended December 31, 2024 and December 31, 2025, and (ii) no "reportable events" as such term is defined in Item 304(a)(1)(v) of Regulation S-K. During the Company's two most recent fiscal years ended December 31, 2024 and December 31, 2025, and the subsequent interim period through July 2, 2026, neither the Company, nor anyone on its behalf, consulted M&K regarding either: (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered with respect to the consolidated financial statements of the Company, and no written report or oral advice was provided to the Company by M&K that M&K concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue; or (ii) any matter that was the subject of a "disagreement" (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) or a "reportable event" (as that term is defined in Item 304(a)(1)(v) of Regulation S-K). About BIO-key International BIO-key International Inc. provides identity and access management software and biometric authentication technology for enterprise, large-scale customer and civil ID applications. The company's platforms include BIO-key PortalGuard and hosted PortalGuard IDaaS, which combine biometric technology with multiple authentication factors to help customers control access to systems, applications and devices. BIO-key sells branded biometric and FIDO authentication hardware as accessories to its IAM platforms and operates a software-as-a-service business model supported by direct sales teams and channel partners. The company was founded in 1993 and is based in Holmdel, New Jersey. Henderson, Nevada-based Bush & Associates CPA LLC, the Company's auditor since 2024, issued a "going concern" qualification in its report dated June 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 suffered substantial net losses and negative cash flows from operations in recent years and is dependent on debt and equity financing to fund its operations, all of which raise substantial doubt about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $8.16 million in total assets, $3.26 million in total liabilities, and $4.89 million in total stockholders' equity. BLEND COFFEE 1: Amends Unsecured Claims Pay Details --------------------------------------------------- The Blend Coffee 1, LLC and its affiliates submitted an Amended Plan of Reorganization dated July 6, 2026. This Plan of Reorganization proposes to pay the creditors of the Debtors from projected disposable income. Class 12A consists of All Non-Priority Unsecured Claims against The Blend Coffee 1 LLC. Each holder of an Allowed Class 12A Claim shall receive its pro rata share of the Debtors' projected disposable income as defined in Sections 1191(c)(2)(A) and (d)(2) of the Bankruptcy Code, remaining after the payment of senior claims. As of the Effective Date, Payments to Class 12A creditors shall be made quarterly commencing in year 2 of the plan period. Class 12A is impaired by the Plan and is entitled to vote. Class 12B consists of All Non-Priority Unsecured Claims against The Blend Coffee 2 LLC. Each holder of an Allowed Class 12B Claim shall receive its pro rata share of the Debtors' projected disposable income as defined in Sections 1191(c)(2)(A) and (d)(2) of the Bankruptcy Code, remaining after the payment of senior claims. As of the Effective Date, Payments to Class 12B creditors shall be made quarterly commencing in year 2 of the plan period. Class 12B is impaired by the Plan and is entitled to vote. Class 12C consists of All Non-Priority Unsecured Claims against The Blend Coffee 3 LLC. During the pendency of the Chapter 11 Case, the Debtor rejected its non-residential real property lease for the coffee shop pursuant to section 365 of the Bankruptcy Code and ceased all business operations. Under the Plan, the Debtor is surrendering all of its assets and collateral to the first-lien lender in satisfaction of the lender's secured claim. After payment of allowed administrative expenses as provided in the Plan, the Debtor will have no remaining assets or funds available for distribution. Accordingly, holders of Class 12C unsecured claims will not receive any distribution under the Plan. Class 12D consists of All Non-Priority Unsecured Claims against The Blend Coffee 4 LLC. Each holder of an Allowed Class 12D Claim shall receive its pro rata share of the Debtors' projected disposable income as defined in Sections 1191(c)(2)(A) and (d)(2) of the Bankruptcy Code, remaining after the payment of senior claims. As of the Effective Date, Payments to Class 12D creditors shall be made quarterly commencing in year 2 of the plan period. Class 12D is impaired by the Plan and is entitled to vote. Class 12E consists of All Non-Priority Unsecured Claims against The Blend Coffee 5 LLC. Each holder of an Allowed Class 12E Claim shall receive its pro rata share of the Debtors' projected disposable income as defined in Sections 1191(c)(2)(A) and (d)(2) of the Bankruptcy Code, remaining after the payment of senior claims. As of the Effective Date, Payments to Class 12E creditors shall be made quarterly commencing in year 2 of the plan period. Class 12E is impaired by the Plan and is entitled to vote. Class 12F consists of All Non-Priority Unsecured Claims against The Blend Coffee 6 LLC. Each holder of an Allowed Class 12F Claim shall receive its pro rata share of the Debtors' projected disposable income as defined in Sections 1191(c)(2)(A) and (d)(2) of the Bankruptcy Code, remaining after the payment of senior claims. As of the Effective Date, Payments to Class 12F creditors shall be made quarterly commencing in year 2 of the plan period. Class 12F is impaired by the Plan and is entitled to vote. Class 12G consists of All Non-Priority Unsecured Claims against The Blend Coffee 7 LLC. Each holder of an Allowed Class 12G Claim shall receive its pro rata share of the Debtors' projected disposable income as defined in Sections 1191(c)(2)(A) and (d)(2) of the Bankruptcy Code, remaining after the payment of senior claims. As of the Effective Date, Payments to Class 12G creditors shall be made quarterly commencing in year 2 of the plan period. Class 12G is impaired by the Plan and is entitled to vote. Class 12H consists of All Non-Priority Unsecured Claims against The Blend Coffee 8 LLC. During the pendency of the Chapter 11 Case, the Debtor rejected its non-residential real property lease for the coffee shop pursuant to section 365 of the Bankruptcy Code and ceased all business operations. Under the Plan, the Debtor is surrendering all of its assets and collateral to the first-lien lender in satisfaction of the lender's secured claim. After payment of allowed administrative expenses as provided in the Plan, the Debtor will have no remaining assets or funds available for distribution. Accordingly, holders of Class 12H unsecured claims will not receive any distribution under the Plan. Class 12I consists of All Non-Priority Unsecured Claims against The Blend Coffee 9 LLC. During the pendency of the Chapter 11 Case, the Debtor rejected its non-residential real property lease for the coffee shop pursuant to section 365 of the Bankruptcy Code and ceased all business operations. Under the Plan, the Debtor is surrendering all of its assets and collateral to the first-lien lender in satisfaction of the lender's secured claim. After payment of allowed administrative expenses as provided in the Plan, the Debtor will have no remaining assets or funds available for distribution. Accordingly, holders of Class 12I unsecured claims will not receive any distribution under the Plan. Class 12J consists of All Non-Priority Unsecured Claims against The Blend Coffee 10 LLC. During the pendency of the Chapter 11 Case, the Debtor rejected its non-residential real property lease for the coffee shop pursuant to section 365 of the Bankruptcy Code and ceased all business operations. Under the Plan, the Debtor is surrendering all of its assets and collateral to the first-lien lender in satisfaction of the lender's secured claim. After payment of allowed administrative expenses as provided in the Plan, the Debtor will have no remaining assets or funds available for distribution. Accordingly, holders of Class 12J unsecured claims will not receive any distribution under the Plan. Class 12K consists of All Non-Priority Unsecured Claims against The Blend Coffee 14 LLC. Each holder of an Allowed Class 12K Claim shall receive its pro rata share of the Debtors' projected disposable income as defined in Sections 1191(c)(2)(A) and (d)(2) of the Bankruptcy Code, remaining after the payment of senior claims. As of the Effective Date, Payments to Class 12K creditors shall be made quarterly commencing in year 2 of the plan period. Class 12K is impaired by the Plan and is entitled to vote. Payments required under the Plan will be funded from: (i) the cash on hand on the Effective Date, and (ii) projected disposable income of the Debtors. A full-text copy of the Amended Plan dated July 6, 2026 is available at https://urlcurt.com/u?l=2PiyR4 from PacerMonitor.com at no charge. The Debtors' Counsel: Amy Denton Mayer, Esq. BERGER SINGERMAN LLP 101 E. Kennedy Boulevard Suite 1165 Tampa, FL 33602 Tel: (813) 498-3400 Email: amayer@bergersingerman.com About The Blend Coffee 1 LLC The Blend Coffee group comprises multiple affiliated limited liability companies under common ownership and control that operate coffeehouse and cocktail venues in St. Petersburg, Florida. The group provides espresso-based beverages, coffee flights, and mixed drinks across several locations. It functions as an integrated hospitality business with shared financial, administrative, and operational systems. The Blend Coffee 1 and its affiliates filed petitions under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Lead Case No. 25-08269) on November 4, 2025. At the time of the filing, Blend Coffee 1 listed up to $50,000 in assets and between $500,000 and $1 million in liabilities. Judge Roberta A. Colton presides over the cases. Amy Denton Mayer, Esq., at Berger Singerman, LLP represents the Debtors as legal counsel. BNL ENTERPRISES: Seeks to Hire Sexton Auctioneers as Auctioneer --------------------------------------------------------------- BNL Enterprises, Inc. seeks approval from the U.S. Bankruptcy Court for the Western District of Arkansas to hire Tyler Sexton of Sexton Auctioneers to serve as auctioneer. The firm will list and sell 28 trucks through the auction. Sexton Auctioneers will retain 10% of the gross sales price as payment in full for its services. Tyler Sexton states that he and Sexton Auctioneers are "disinterested parties" within the meaning of Section 327 of the Bankruptcy Code and do not hold or represent an interest adverse to BNL Enterprises, Inc., its creditors, or other parties in interest, according to court filings. The firm can be reached at: Tyler Sexton SEXON AUCTIONEERS 5182 US HWY 63 Pomona, MO 65789 About BNL Enterprises, Inc. BNL Enterprises, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Arkansas Case No. 5:26-BK-70930) on 5/13/2026. At the time of the filing, Debtor had estimated assets of between $0 to $50,000 and liabilities of between $1,000,001 to $10 million. Judge Bianca M Rucker oversees the case. Carl W. Hopkins, PA is Debtor's legal counsel. BROADWAY FORD: Committee Hires Summers Compton as Local Counsel --------------------------------------------------------------- The official committee of unsecured creditors appointed in the Chapter 11 case of Broadway Ford Truck Sales, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of Missouri to employ Summers Compton Wells LLC as local counsel. The firm's services include: (a) assist in the provision of legal advice and counsel to the committee concerning its duties and powers in this proceeding as well as the local practices, procedures and customs of this Court. (b) assist the committee in its investigation of the conduct, assets, liabilities and financial condition of the Debtor, the operation of its business, the disposition of its assets, and any other relevant issues that may arise in this case. (c) assist in the provision of legal advice and counsel concerning any potential sale of the Debtor's assets or operations and/or the confirmation of any plan of reorganization or liquidation and participating and representing the interests of the committee in the related sale and/or confirmation processes; (d) assist and advise the committee with respect to communications to its constituents related to the committee's position and/or recommendations on material issues in this proceeding; (e) advise and represent the committee, as appropriate, with respect to the appointment of a trustee or examiner in this case, should such an action become necessary; (f) assist the committee in preparing, reviewing and/or analyzing motions, applications, notices, and pleadings, filed or to be filed with this Court; (g) determine the existence of causes of action belonging to the bankruptcy estate; (h) advise the committee on the necessity of hiring additional professionals and directing the services and responsibilities of the professionals, as the case may be; and (i) perform such other and further services as may be necessary to protect the interests of the general unsecured creditors in this matter. The firm's counsel will be paid at these hourly rates: David Sosne, Member $525 Seth Albin, Member $500 Brian LaFlamme, Of Counsel $475 Paralegals $275 In addition, the firm will seek reimbursement for expenses incurred. Mr. Sosne disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: David A. Sosne, Esq. Summers Compton Wells LLC 903 S. Lindbergh Blvd., Suite 200 St. Louis, MO 63131 Telephone: (314) 991-4999 Facsimile: (314) 991-2413 Email: dasattymo@scw.law About Broadway Ford Truck Sales Inc. Broadway Ford Truck Sales, Inc. is a commercial vehicle dealership engaged in the sale and service of Ford trucks in the Saint Louis market. Broadway Ford Truck Sales, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mo. Case No. 26-42179) on May 18, 2026. In its petition, the Debtor reports estimated assets and liabilities of $10 million to $50 million. The Debtor is represented by Thomas H. Riske, Esq. of Carmody MacDonald PC. On June 4, 2026, the United States Trustee appointed an official committee of unsecured creditors in this Chapter 11 case. The committee tapped Foley & Lardner LLP and Summers Compton Wells LLC as counsel. BROADWAY FORD: Committee Seeks to Tap Foley & Lardner as Counsel ---------------------------------------------------------------- The official committee of unsecured creditors appointed in the Chapter 11 case of Broadway Ford Truck Sales, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of Missouri to employ Foley & Lardner LLP as counsel. The firm's services include: (a) advise the committee in connection with its powers and duties under the Bankruptcy Code and the Bankruptcy Rules; (b) assist and advise the committee in its consultation with the Debtor and other parties-in-interest regarding the administration of this Chapter 11 case; (c) attend meetings and negotiate with the representatives of the Debtor and other parties-in-interest; (d) assist and advise the committee in its examination and analysis of the conduct of the Debtor's affairs; (e) assist and advise the committee in connection with any sale of the Debtor's assets pursuant to section 363 of the Bankruptcy Code; (f) assist the committee in the review, analysis and negotiation of any Chapter 11 plan(s) of reorganization or liquidation that may be filed and assist the committee in the review, analysis and negotiation of the disclosure statement accompanying any such plan(s); (g) assist the committee in analyzing the claims asserted against and interests asserted in the Debtor, in negotiating with the holders of such claims and interests, and in bringing, participating, or advise the committee with respect to contested matters and adversary proceedings; (h) assist with the committee's review of the Debtor's Schedules of Assets and Liabilities, Statement of Financial Affairs and other financing reports prepared by it, and the committee's investigation of the acts, conduct, assets, liabilities, and financial condition of it and of the historic and ongoing operation of their businesses; (i) assist the committee in its analysis of, and negotiations with, the Debtor or any third party related to, among other things, cash collateral issues, financings, compromises of controversies, assumption or rejection of executory contracts and unexpired leases, and matters affecting the automatic stay; (j) take all necessary action to protect and preserve the interests of the committee; (k) prepare all necessary motions, applications, answers, orders, reports, replies, responses, and papers in support of positions taken by the committee; (l) appear, as appropriate, before this court, the appellate courts, and the United States Trustee, and protect the interests of the committee before those courts and before the United States Trustee; (m) investigate and analyze the existence, extent, validity, enforceability, and priority of liens asserted against the Debtor, and participate as necessary in any action related to such investigation; (n) analyze any other state law issues related to this Chapter 11 case; (o) participate in any related investigation of the Debtor, its affiliates, and/or its secured lenders; and (p) take all necessary actions for the Debtor. The firm will be paid at these hourly rates: Geoffrey Goodman, Partner $1,175 Timothy Mohan, Senior Counsel $950 Nathan Waljs, Associate $650 Janelle Harrison, Paralegal $420 In addition, the firm will seek reimbursement for expenses incurred. Mr. Goodman 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: Geoffrey S. Goodman, Esq. 321 North Clark Street, Suite 3000 Foley & Lardner LLP Chicago, IL 60654 Telephone: (312) 832-4514 Email: ggoodman@foley.com About Broadway Ford Truck Sales Inc. Broadway Ford Truck Sales, Inc. is a commercial vehicle dealership engaged in the sale and service of Ford trucks in the Saint Louis market. Broadway Ford Truck Sales, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mo. Case No. 26-42179) on May 18, 2026. In its petition, the Debtor reports estimated assets and liabilities of $10 million to $50 million. The Debtor is represented by Thomas H. Riske, Esq. of Carmody MacDonald PC. On June 4, 2026, the United States Trustee appointed an official committee of unsecured creditors in this Chapter 11 case. The committee tapped Foley & Lardner LLP and Summers Compton Wells LLC as counsel. BUILT USA: Gets Interim OK to Use Cash Collateral ------------------------------------------------- Built USA, LLC received fourth interim approval from the Middle District of Florida, Tampa Division, authorizing the continued use of cash collateral in its Chapter 11 case. The order authorized the Debtor to use cash collateral to pay court-approved expenses, operating costs included in its budget with up to a 10% variance per line item, and additional expenses approved in writing by the secured creditors. Payments to insiders or professionals remain subject to separate court approval. The Debtor projects total monthly operational expenses of $604,723. As adequate protection, the court granted the U.S. Small Business Administration (SBA) and NextGear Capital, Inc. replacement liens on postpetition cash collateral with the same validity and priority as their prepetition liens. The Debtor must also make monthly adequate protection payments of $683 to the SBA, and $2,900 per month to NextGear Capital until further court order or confirmation of a Chapter 11 plan. The order further required the Debtor to maintain insurance on its collateral, comply with all debtor-in-possession obligations under the Bankruptcy Code, and provide the secured creditors with reasonable access to its business records and premises. Upon request, the Debtor must also furnish monthly financial reports to the secured creditors. The order preserves the rights of creditors and any future creditors' committee to seek modified adequate protection or challenge the validity, priority, or extent of asserted liens. A copy of the court's order and the Debtor's budget is available at https://short.do/rFO4Dt from PacerMonitor.com. The court scheduled a continued hearing for August 26. About Built USA, LLC Built USA, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Flo. Case No. 25-09453) with $100,001 to $500,000 in assets and $0 to $50,000 in laibilities. Judge Hon. Caryl E Delano oversees the case. The Debtor is represented by: Buddy D Ford Ford & Semach, P.A. Tel: 813-877-4669 Email: buddy@tampaesq.com C & C SECURITY: Employs Bachecki Crom & Co. as Accountant --------------------------------------------------------- C & C Security Patrol, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of California to employ Bachecki, Crom & Co., LLP as accountant. The firm will provide these services: (a) prepare monthly operating reports; (b) prepare and file tax returns; (c) perform tax analysis; (d) analyze tax claims filed in this case; (e) prepare payroll tax returns, if necessary; (f) prepare plan projections; (g) analyze plan feasibility; (h) respond to the Debtor and Debtor's Counsel concerning accounting issues that may arise during the administration of the case; and (i) serve as general accountant for the bankruptcy estate. The firm will be compensated at these hourly rates: Partners & Senior Advisor: $425 - $650 Senior Accountant: $375 - $490 Junior Accountant: $140 - $370 According to court filings, except as disclosed in the declaration of Austin J. Wade, Bachecki, Crom & Co., LLP and its members have no connections with the company, creditors, parties in interest, their attorneys or accountants, or the United States Trustee or any other person employed by the Office of the United States Trustee. The firm can be reached at: Sarah M. Stuppi, Esq. LAW OFFICES OF STUPPI & STUPPI 1630 North Main St., #332 Walnut Creek, CA 94596 Telephone: (415) 786-4365 E-mail: sarah@stuppilaw.com About C & C Security Patrol, Inc. C & C Security Patrol, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Cal. Case No. 26-40766) on April 15, 2026. At the time of the filing, the company had estimated assets of between $1,000,001 and $10 million and liabilities of between $1,000,001 and $10 million. Judge William J Lafferty oversees the case. Law Offices of Robert L. Goldstein is the company's legal counsel. C.S. HOLDINGS: Seeks Subchapter V Bankruptcy in Florida ------------------------------------------------------- Kirk O'Neil of The Street reports that C.S. Holdings of Tampa LLC, an independent Checkers Drive-In franchisee, has entered Chapter 11 bankruptcy after reporting declining revenue and liabilities that substantially outweigh its assets. The company, which operates two Checkers restaurants in the Tampa area, filed for protection in the Middle District of Florida on July 14 to reorganize its business. Court documents do not identify a specific cause for the bankruptcy filing. According to the petition, the company listed more than $1.8 million in debt against approximately $569,000 in assets. The largest unsecured creditor is Bank Five Nine, with claims exceeding $1.6 million. Other significant creditors include the Florida Department of Revenue, Kapitus LLC, Highland Hill Capital, and Chase, reflecting obligations related to taxes, financing and business credit. The franchisee's revenue has steadily declined over the past two years. Gross receipts fell from more than $1.55 million in 2024 to over $1.22 million in 2025, and the company reported only about $426,000 in revenue before commencing its bankruptcy case in 2026. The filing affects only the local franchise operator and does not involve Checkers Drive-In Restaurants Inc., which licenses the brand to independently owned franchisees, the report relays. Founded through the 1999 merger of Checkers and Rally's, the chain has grown to more than 700 locations across the United States. Ownership of the franchisor changed hands in 2023 when Oak Hill Capital Partners completed a recapitalization transaction that transferred majority ownership to Arbour Lane Capital Management, Garnett Station Partners and Guggenheim Investments. The bankruptcy highlights the financial challenges facing some restaurant franchise operators despite the continued strength of nationally recognized brands. according to The Street. About C.S. Holdings of Tampa C.S. Holdings of Tampa LLC is a Tampa, Florida-based fast-food restaurant company operating two Checkers Drive-In franchise restaurants. The business specializes in quick-service dining and serves customers through the nationally recognized Checkers brand. The company is independently owned and focuses on restaurant operations, customer service and food preparation within the Tampa metropolitan area. C.S. Holdings of Tampa sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case #26-06093) on July 14, 2026. In its petition, the Debtor reports more than $1.8 million in liabilities and over $569,000 in assets. Honorable Bankruptcy Judge Roberta A. Colton handles the case. The Debtor is represented by Buddy D. Ford, Esq. of Ford & Semach, P.A. CALITRE LLC: Unsecureds Will Get 100% Dividend over 60 Months ------------------------------------------------------------- Calitre, LLC filed with the U.S. Bankruptcy Court for the District of New Jersey a Plan of Reorganization for Small Business dated July 6, 2026. The Debtor is a New Jersey LLC which operates primarily in both New Jersey and New York and provides painting services for commercial buildings and complexes, including but not limited to large hotels and office complexes. The Debtor operates out of its business location at 303 Rockland Avenue, Westwood, NJ. The Debtor does not currently have any employees and instead utilizes sub-contractors on all of its projects. This allows the Debtor to run more efficiently and at better margins. The Debtor derives substantially all its income through large commercial contracts where it provides primarily painting services. The Debtor has a strong focus on providing exceptional painting, wallcovering, and Kadex services to its clients and the Debtor has become a trusted name in the industry. The Debtor proposes to pay the holders of all allowed administrative claims in full on the later of (i) the Effective Date of the Plan; (ii) allowance of the claim(s) or (iii) in accordance with any agreement between the Debtor and the holder(s) of the claim(s). The Debtor proposes to pay the allowed priority tax claim of the Internal Revenue Service (the "IRS") in the amount of $523.83, over five years at 6.5% interest, in monthly installments of $10.25. The Debtor's real and personal property is covered by several secured creditors who shall be treated as follows: * The first position UCC Lien holder on the Debtor's general real and personal property is held by ODK Capital LLC and shall be treated as follows: the debtor shall pay the secured claim in the amount of $210,000.00 over a sixty-month term at 5.5% interest, in 60 monthly installments of $4,011.24, with any remainder being treated as a general unsecured claim. * P1 Finance has a secured claim on all of the assets of the Debtor in the amount of $35,583.71. The Debtor proposes to treat the claim held by P1 as general unsecured claims against the Debtor. * PDM Capital LLC, a secured claim on all of the assets of the Debtor in the amount of $112,810.00. The Debtor proposes to treat the claim held by PDM as general unsecured claims against the Debtor. The Debtor proposes to treat all other allowed claims against the Debtor, as general unsecured claims against the Debtor under Bankruptcy Code Sec. 506(a). The Debtor will pay a 100% dividend over a sixty-month period, in 60 monthly payments, toward the holders of general unsecured claims; this payment shall represent a 100% repayment to creditor holding unsecured claims against the Debtor. Class 5 consists of Allowed General Unsecured Claims against the Debtor in the approximate amount of $1,000,400.60. Claimants to be a paid a 100% dividend on all allowed claims. Commencing 120 days after the Effective Date, for a period of 60 months, the Debtor will make the monthly payments in the amount of approximately $16,673.35 toward the fund for payment of Class 5 Claims. The Debtor propose to distribute the fund to the holders of allowed Class 5 claims monthly. However, if the monthly payment due any holder of an allowed Class 5 Claim from the fund is less than $10.00, the Debtor may elect to distribute the full amount of the claimant's share of the fund in a single payment. This Class is impaired. Equity interest holder Eric Stolte will retain all equity interests in all property of the Debtor, except any property surrendered to a secured claimant pursuant to the plan. The Debtor will fund the payments toward the unclassified priority tax claims against it and the payments to Classes 1 and 5 by contributing post-confirmation income realized through its business operations. On Confirmation of the Plan, all property of the Debtor, tangible and intangible, including, without limitation, licenses, furniture, fixtures and equipment, will revert, free and clear of all Claims and Equitable Interests except as provided in the Plan, to the Debtor. The Debtor expects to have sufficient cash on hand to make the payments required on the Effective Date. A full-text copy of the Plan of Reorganization dated July 6, 2026 is available at https://urlcurt.com/u?l=ekIqSg from PacerMonitor.com at no charge. Counsel to the Debtor: Norgaard O’Boyle & Hannon Brian G. Hannon, Esq. 184 Grand Avenue Englewood, NJ 07631 Tel: (201) 871-1333 About Calitre LLC Calitre LLC, a company based in New York, New York, provides commercial painting, wallcovering installation, and Kadex coating services for residential and commercial properties. The company's portfolio includes projects across New York City and nearby markets, including office buildings, hotels, multifamily properties, and transit-related facilities. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 26-13857) on April 7, 2026, with $100,000 to $500,000 in assets and $1 million to $10 million in liabilities. Eric Stolte, managing member, signed the petition. Judge Vincent F Papalia oversees the case. Brian G Hannon, Esq., at Norgaard, O'Boyle & Hannon, represents the Debtor as legal counsel. CAMP MYSTIC: Families Say Bankruptcy Stay Doesn't Extend to Owners ------------------------------------------------------------------ Yun Park of Law360 Bankruptcy Authority reports that the families of victims who died at Camp Mystic have asked a Texas bankruptcy judge to confirm that the Chapter 11 automatic stay applies only to the debtor and does not bar lawsuits against the camp's owners or other non-debtor parties. The filing seeks to prevent those parties from relying on the bankruptcy case to delay pending litigation. In their motion, the families argue that the Bankruptcy Code provides limited protections and that extending those protections to non-debtors would exceed the intended scope of the automatic stay. They assert that claims against individuals and affiliated entities should continue independently of the bankruptcy proceedings, according to Law360. The motion asks the court to issue a clarifying order so that wrongful-death and related civil actions may proceed while the debtor restructures under Chapter 11. A ruling has not yet been issued, the report states. About Camp Mystic Camp Mystic is a Texas-based girls' summer camp that has operated since 1926 in Hunt. The organization offers a variety of youth development programs, including sports, arts, outdoor adventures, and leadership activities, with a mission centered on personal growth, character building, and Christian values. Camp Mystic sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90621) on June 24, 2026. In its petition, the Debtor reports estimated assets between $1 million and $10 million, while liabilities are projected to range from $10 million to $50 million. Honorable Bankruptcy Judge Christopher M. Lopez handles the case. The Debtor is represented by Martin A. Sosland, Esq. of Vartabedian Katz Hester & Haynes LLP. CARRIX INC: Moody's Assigns Ba1 Rating to New $2.5BB Secured Notes ------------------------------------------------------------------ Moody's Ratings has assigned Ba1 rating to Carrix, Inc.'s new $2.5 billion senior secured notes and a Ba1-PD Probability of Default rating. The outlook is stable. Carrix is the largest marine and intermodal terminal operator in North America, and among the world's largest privately held independent terminal operators with 275+ operations and services provided globally. RATINGS RATIONALE The Ba1 rating reflects Carrix's leading position as the largest port operator in North America, supported by broad geographic, customer, and asset diversification. No single port asset contributes more than 12% of consolidated revenue, limiting exposure to individual customer, asset, or regional risks and supporting earnings stability across economic cycles. Carrix benefits from a diversified portfolio of strategically located port assets, long-standing customer relationships, and established operating expertise across multiple port segments and geographies. Relatively weak covenant-lite protections and the potential for large capital expansion projects are the primary challenges reflected in the rating. The company's earnings profile has become increasingly diversified following both organic growth initiatives and the acquisition of Ceres Terminals in 2023. The transaction strengthened Carrix's presence in container and cruise operations and expanded its footprint along the U.S. East and Gulf Coasts, reducing historical concentration in U.S. West Coast operations. Together with growth in its intermodal and international businesses, the company maintains limited reliance on any single market, customer, or asset. Carrix benefits from strong revenue visibility, supported by an EBITDA-weighted average remaining concession term of approximately 17 years. Although not all concessions include extension rights, the company has a demonstrated track record of securing renewals, in part through follow-on capital investment programs, reducing long-term concession renewal risk. The rating incorporates improved operating performance following recent growth investments, pricing actions, and productivity initiatives. Carrix has leveraged its network scale to expand global framework contracts and improve pricing outcomes, supporting EBITDA margins above 20% and increased cash flow generation. Moody's expects low- to mid-single-digit revenue growth over the medium term, supported by stable port demand, inflation-linked pricing mechanisms, and growing trade flows through Mexico driven by nearshoring and supply chain realignment. Credit metrics are supported by manageable baseline capital spending requirements and improved cash flow generation. While Moody's expects several large growth projects in the U.S. cruise and Mexican cargo businesses to increase funding needs over the next several years, these investments target some of the company's highest-margin operations and are expected to contribute to earnings growth following completion. The rating is constrained by lower margins in the company's core U.S. container business and the limited presence of traditional infrastructure-like features in the contract stevedoring segment. These characteristics can increase sensitivity to competitive pressures and limit pricing power during periods of weaker demand. In addition, more than 50% of EBITDA is generated from international operations, primarily in Mexico and Panama, exposing the company to sovereign, regulatory, and political risks. These risks are partially mitigated by the countries' investment-grade sovereign credit profiles, Carrix's long operating history, and the strategic importance of regional trade flows with the U.S. The rating also incorporates governance and structural considerations related to minority-owned joint ventures, unrestricted subsidiaries, and holding company debt. Although holding company obligations are structurally subordinated to debt at operating subsidiaries, Moody's have not applied a notching adjustment because priority debt remains manageable relative to total restricted-group debt, such obligations are generally limited recourse, and guarantor subsidiaries are expected to continue contributing a substantial majority of consolidated EBITDA. The Ba1 rating reflects a moderate financial profile, with FFO-to-gross adjusted debt, including capitalized leases, expected to range between 9% and 12% through 2030. Moody's expects Carrix to maintain a broadly stable capital structure and adequate liquidity, supported by the company's strategic importance to its sponsors, Blackstone and Fernando Chico, and the expectation that financial policies would be adjusted as needed to preserve credit quality under downside scenarios. Outlook: The stable outlook reflects Moody's expectations that, following the initial recapitalization, the group will manage its financial profile in line with the leverage targets communicated by management, while sustaining robust operating performance and cash flow generation consistent with the current rating level. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS What could change the rating up: -- FFO/debt above 12% on a sustained basis -- Cash interest coverage above 2.5x on a sustained basis -- Maintenance of good liquidity What could change the rating down: -- Larger than expected capital expenditures or acquisition -- FFO/debt below 7% on a sustained basis -- Cash interest coverage below 2.0x on a sustained basis -- Substantial deterioration in the group's liquidity LIST OF AFFECTED RATINGS Issuer: Carrix, Inc. Assignments: Probability of Default Rating, Assigned Ba1-PD Senior Secured, Assigned Ba1 The principal methodology used in these ratings was Privately Managed Ports published in April 2023. CB POLY US: Moody's Affirms 'B3' CFR & Alters Outlook to Stable --------------------------------------------------------------- Moody's Ratings affirmed CB Poly US Holdings, Inc.'s (Polyconcept) B3 Corporate Family Rating, B3-PD Probability of Default Rating and the B3 rating on the company's senior secured first lien bank credit facility. At the same time, Moody's changed the rating outlook to stable from negative. The outlook change to stable reflects Polyconcept's resilient earnings supported by price increases and good mitigation of cost increases including tariffs through sourcing initiatives. Polyconcept also continues to generate positive free cash flow that Moody's expects will exceed $15 million in 2026 and $25 million in 2027. In addition, the company extended the maturity of its $125 million asset based lending (ABL) facility to May 2029 from May 2027, improving liquidity visibility and providing more flexibility to implement growth initiatives. Moody's affirmed the ratings because Moody's expects revenue and EBITDA to increase in a low single digit range over the next 12 months due to macroeconomic uncertainty and softer demand across portions of the promotional products market. Cost related pressures were lower than anticipated following the partial rollback of tariffs on certain Chinese imports and were further mitigated through price increases, shifting sourcing and cost management measures. As a result, debt-to-EBITDA leverage (incorporating Moody's adjustments) was 5.5x as of the last 12 months ended March 31, 2026 and Moody's expects will be stable through 2027. Positive free cash flow generation, a modest cash balance and good availability on the ABL facility supports adequate liquidity. Free cash flow benefitted from inventory and working capital reductions during 2025 and remains positive despite increased capital expenditures associated with the ERP implementation. Moody's expects free cash flow generation to remain positive and more than $15 million over the next year, supporting gradual deleveraging and providing some flexibility to manage business volatility. The extension of the company's $125 million ABL facility to May 2029 improves liquidity visibility. The facility remains an important source of seasonal working capital funding given the company's inventory intensive business model and fluctuating working capital requirements. RATINGS RATIONALE Polyconcept's B3 CFR reflects the company's solid market position as a value-added supplier in the promotional products industry supported by a broad portfolio of recognized brands across multiple price points, good geographic reach, diversified end markets, and adequate liquidity. These strengths are offset by the company's small scale relative to rated consumer durable peers, which limits financial flexibility, as well as high financial leverage and exposure to industry cyclicality and foreign exchange driven revenue and cost volatility. In addition, overseas product sourcing creates exposure risks that arise from factors such as tariffs, freight costs linked to oil price volatility and geopolitical risks. These factors can negatively affect costs and product availability that hurt operating profitability, particularly as inventories are replenished. Governance considerations continue to weigh on the ratings and reflect aggressive financial policies under private equity ownership, including the February 2024 dividend funded with balance sheet cash, which reduced financial flexibility. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The stable outlook reflects Moody's expectations that the company will generate moderate revenue and earnings growth and positive free cash flow over the next year, and manage cost and demand pressures in a challenging demand environment. Moody's also expects the company to maintain adequate liquidity with sufficient cash, free cash flow and revolver availability to implement growth initiatives. The ratings could be upgraded if the company demonstrates consistent revenue and earnings growth. A ratings upgrade would also require the company to sustain debt-to-EBITDA (incorporating Moody's adjustments) below 6x through the cycle, improve free cash flow, and maintain at least good liquidity. The company would also need to maintain financial policies that support credit metrics at the above levels. The ratings could be downgraded if revenue and earnings weaken due to macro conditions, lower volumes, margin compression from factors such as higher costs for labor, products, freight or tariffs, or if there are supply chain disruptions. The ratings could also be downgraded if the company is unable to generate sustained positive free cash flow, the company pursues debt financed acquisitions or shareholder distributions, or liquidity deteriorates. Headquartered in New Kensington, Pennsylvania, Polyconcept designs, sources, distributes, and decorates promotional products through its primary operations in the United States, Europe, Hong Kong, Canada, and China. The company supplies a broad range of promotional, lifestyle, and gift products to several hundred thousand customers, ranging from small businesses to large multinational corporations, across more than 100 countries, with a primary focus on North America and Europe. Polyconcept operates through two main segments: Polyconcept North America (PCNA) and Polyconcept Europe (PF Concept). The company was acquired by an affiliate of private equity firm Charlesbank Capital Partners in 2016 and reported revenue of approximately $931 million for the last 12 months ended March 31, 2026. The principal methodology used in these ratings was Consumer Durables published in December 2025. CEDAR ARCH: Seeks to Tap Richey Grimshaw Evans as Counsel --------------------------------------------------------- Cedar Arch Dairies LLC seeks approval from the U.S. Bankruptcy Court for the District of Idaho to employ Richey Grimshaw Evans LLP as counsel. The firm will provide these services: (a) preparation, filing, and presentation to the Bankruptcy Court of any pleadings requesting relief; (b) preparation, filing, and presentation to the court of a disclosure statement and plan or arrangement under Chapter 11 of the Bankruptcy Code; (c) attendance at all meetings of creditors, hearings, pretrial conferences, and trials in the case or any litigation arising in connection with the case, whether in state or federal court; (d) review of claims made by creditors or interested parties, preparation, and prosecution of any objections to claims as appropriate; (e) preparation, filing, and presentation to the court of all applications to employ and compensate professionals in the Chapter 11 proceeding; and (f) preparation and presentation of a final accounting and motion for final decree closing the bankruptcy case. The firm will be paid at these hourly billing rates: John Richey $425 Matt Grimshaw $425 Jon Evans $395 paralegals $100 to $190 law clerks and staff $50 to $75 Richey Grimshaw Evans LLP is a "disinterested" person within the meaning of Section 101(14) of the Bankruptcy Code and represents no interest adverse to the bankruptcy estate, according to court filings. The firm can be reached at: Matthew W. Grimshaw, Esq. Jon B. Evans, Esq. RICHEY GRIMSHAW EVANS, LLP 1120 S Rackham Way, Suite 300 Meridian, ID 83642 Telephone: (208) 609-4232 E-mail: mgrimshaw@rgelaw.com jbevans@rgelaw.com About Cedar Arch Diaries LLC Cedar Arch Diaries, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Idaho Case No. 26-40154) on Mar. 23, 2026, listing up to $50 million in both assets and liabilities. Judge Noah G. Hillen oversees the case. The Debtor tapped Matthew W. Grimshaw, Esq., at Grimshaw Law Group, PC as bankruptcy counsel and Theodore R. Larsen, Esq., at Williams, Meservy & Larsen LLP as special counsel. CHASSEUR REALTY: To Sell Jackson Property to Massie Road Dev't -------------------------------------------------------------- Chasseur Realty Investors-Jackson LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor is an entity formed and operating under the laws of the State of New Jersey and has a registered address at 1445 Georgian Drive, Moorestown, NJ 08057. An Official Committee of Unsecured Creditors has not been appointed in this chapter 11 case. The Debtor is the owner and prior operator of the Property, an apartment complex located at 770 Lakeland Drive, Jackson, Mississippi. The Property consists of a 96 unit residential apartments and appurtenances. The lienholder of the Property is PNC Bank. The Debtor executed the Purchase Agreement on January 14, 2026, with Massie Road Development, L.L.C. as amended on April 9, 2026, and May 27, 2026, which called for a closing on the Property by June 5, 2026. The Closing Date under the Purchase Agreement was extended by the Purchaser to June 12, 2026, in order to allow Rialto to produce a valid payoff statement so the Debtor could determine which charges were validly being imposed in order to achieve "defeasance" of the Loan. Though the amounts under the Purchase Agreement exceed the principal obligations of the Loan, or $9,083,329.93, there is an alleged shortfall because of the additional charges imposed by Rialto, which charges the Debtor disputes. Rialto asserts that the amount required to release Wilmington Trust's liens is $9,747,281.40. The Debtor missed the extended Closing Date under the Purchase Agreement. In the interim, on June 15, 2026 the Debtor was sued in Mississippi by the Purchaser seeking to compel a closing on the sale of the Property or for damages and for specific performance. Facing an answer date in the Purchaser's Suit, and with an unsatisfactory explanation by Rialto’s counsel of the claimed charges, the Debtor instituted the instant bankruptcy proceedings. The Debtor avers that Rialto and Wilmington Trust are using their lien position to force the Debtor to acknowledge and pay obligations it is not obligated for under the Loan Documents, or lose the Purchaser. By their actions, Wilmington Trust and Rialto have caused the Debtor to incur costs and expenses, miss the original and rescheduled closing dates, caused the Debtor to be sued by the Purchaser in the Purchaser's Suit, and ultimately forced the Debtor to institute the proceedings to break the impasse. The Debtor avers that Wilmington Trust, directly and through its agent Rialto breached its duty of good faith and fair dealing by overcharging the Debtor or making unauthorized charges on the Debtor's Loan, ignoring Debtor's requests for information, by refusing to use rents to maintain and pay bills at the Property and by refusing to allow the Debtor to proceed to closing on the Purchase Agreement. The Debtor desires to sell the Property to the Purchaser. The Purchase Agreement was reached after significant marketing and negotiation by the Debtor. The Purchaser is unwilling to pay more than the purchase price set forth in the Purchase Agreement, which if the Wilmington Trust charges are correct, which the Debtor avers they are not, causes a closing shortfall of approximately $443,000.00. The Debtor engaged in an active, nationwide marketing campaign in an effort to find a purchaser for the Property. The Debtor began a dialogue with Purchaser that eventually resulted in execution of the attached Purchase Agreement. The Sales Price in the Purchase Agreement of $9,700,000.00 received from the Purchaser is a fair price established by exposure to the market, and will enable Debtor to bring much needed funds to the bankruptcy estate to satisfy secured debt, while eliminating the cost connected to the Loan and any potential claim by the Purchaser that the Debtor breached the Purchase Agreement and caused damage to the Purchaser. The Debtor believes the private sale of the Property to the Purchaser is warranted and in the best interests of the estate and its creditors. About Chasseur Realty Investors-Jackson LLC Chasseur Realty Investors-Jackson, LLC is a Jackson, Mississippi-based real estate lessor whose primary asset is Fondren Hill Apartments, a multifamily apartment property at 770 Lakeland Drive in Jackson. The company is associated with Chasseur Realty Investors, LLC, a Valdosta, Georgia-based multifamily real estate investment and management firm focused on acquiring, renovating and managing value-add apartment communities across Georgia, northern Florida and the Alabama coast. Chasseur Realty Investors-Jackson sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr.D.N.J. Case No.: 26-17694) on July 2, 2026. In the petition signed by Robert M. Dominy Jr. as managing member, the Debtor disclosed an estimated asset of $1 million to $10 million and estimated liabilities of $10 million to $50 million. Edmond M. George at Obermayer Rebmann Maxwell & Hippel, represents the Debtor as legal counsel. List of Debtor's Eight Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Comcast Utilities $1,075 1701 JFK Blvd Philadelphia, PA 19103-2838 2. Entergy Electric Utilities $1,608 639 Loyola Avenue New Orleans, LA 70113 3. Jackson Water Company Utilities $93,610 P.O. Box 22667 Jackson, MS 39225-2667 4. Michael Barrett Loan $200,000 63 Kent Rd Lynn, MA 01904 5. MS Department of Revenue Taxes $700 P.O. Box 23075 Jackson, MS 39225-3075 6. Ponderosa Fence Contractor $1,300 PO Box 54309 Pearl, MS 39288-4309 7. Republic Trash Contractor $2,609 1035 Old Brandon Rd Brandon, MS 39232 8. Robert M. Dominy Loan $994,000 P.O. Box 22245 206 Marina Dr. Saint Simons Island, GA 31522 COLLABOW INC: Commences Chapter 11 Bankruptcy in California ----------------------------------------------------------- On July 14, 2026, Collabow, Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Central District of California. According to court filings, the debtor reports between $1 million and $10 million in liabilities owed to 1 to 49 creditors. About Collabow, Inc. Collabow, Inc. is a Los Angeles, California-based women's apparel manufacturer and wholesale distributor. The company designs, manufactures and distributes women's fashion apparel through wholesale and e-commerce channels. Court filings indicate the business employs approximately 45 to 50 full-time workers and continues serving retailers and online customers. Collabow, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-16986) on July 14, 2026. In its petition, the debtor reported estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. The Debtor is represented by Stella Havkin, Esq. COLLIERCOUNT LLC: Gets Interim OK to Use Cash Collateral -------------------------------------------------------- Colliercount, LLC received second interim approval from the U.S. Bankruptcy Court for the Middle District of Florida, Fort Myers Division, to use cash collateral of secured lenders Newtek Bank, N.A. and Plantaxions, Inc. The order authorized the Debtor to use cash collateral to pay ordinary course operating expenses in accordance with the budget. The Debtor may exceed each individual budget line item by up to 10%, while professional fees require separate court approval. Certain unbudgeted expenditures may still be permissible if they would qualify as administrative expenses, although such spending could give rise to remedies in favor of the secured creditors. The Debtor projects total operational expenses of $53,836. As adequate protection, Newtek Bank, N.A. and Plantaxions, Inc. were granted replacement liens on all post-petition accounts receivable acquired by the Debtor, maintaining the same validity, priority, and extent as their prepetition security interests. The lenders' floating liens on cash collateral will continue notwithstanding Section 552 of the Bankruptcy Code, and the replacement liens are deemed effective and perfected as of the petition date. The Debtor must maintain insurance coverage on its collateral in accordance with the loan documents and file a proposed budget, together with a budget-to-actual variance report, at least two days before the continued hearing. The order remains in effect unless modified by the court. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/iasU6 from PacerMonitor.com. About CollierCount LLC CollierCount, LLC, doing business as U.S. Lawns of Naples, operates as a franchisee of U.S. Lawns, providing commercial landscaping and grounds maintenance services in Naples, Florida, and surrounding Collier County communities, including Vineyards, Immokalee, and Lely Resort. It offers turf maintenance, landscape improvements, irrigation and water management, landscape renovation, tree care, hardscape installation and maintenance, pest control, fertilization, and snow and ice management for commercial properties. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-00613) on March 20, 2026, with up to $50,000 in assets and $1 million to $10 million in liabilities. Joe Titone, manager, signed the petition. Judge Luis Ernesto Rivera II presides over the case. Benjamin G. Martin, Esq., at the Law Offices of Benjamin Martin represents the Debtor as bankruptcy counsel. CONEJO RIVERSIDE: Hires Raines Feldman Littrell as Legal Counsel ---------------------------------------------------------------- Conejo Riverside Group, LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Raines Feldman Littrell LLP as 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 a sale of its 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 it 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 it 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's professionals will be billed at these hourly rates: Kyra Andrassy, Partner $850 Robert Yan, Counsel $795 Stephen Mott, Associate $595 Bambi Clark, Paralegal $495 Connie-Marie Santiago, Paralegal $325 The firm received a prepetition retainer in the amount of $25,000, plus the filing fee of $1,738 from the Debtor. Ms. 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 through: 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 Conejo Riverside Group LLC Conejo Riverside Group, LLC is a real estate company that owns and leases commercial property at 2402-2502 South Grove Avenue in Ontario, California. Conejo Riverside Group sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-11647) on May 28, 2026. In the petition signed by Jason Miller, manager, the Debtor disclosed up to $50 million in assets and up to $10 million in liabilities. Judge Scott C. Clarkson oversees the case. Kyra E. Andrassy, Esq., at Raines Feldman Littrell LLP represents the Debtor as counsel. CONLIN STREET: Unsecureds Will Get 100% of Claims in Plan --------------------------------------------------------- Conlin Street LLC filed with the U.S. Bankruptcy Court for the Eastern District of Louisiana a Plan of Reorganization for Small Business dated July 6, 2026. The Debtor owns and manages a medical arts building located at 4420 Conlin Street, Metairie, Louisiana. The Debtor's Building consists of first floor covered parking and 2 units (1 rented; 1 vacant), second floor consisting of 6 units (4 rented; 2 vacant), third floor consisting of 6 units (4 rented; 2 vacant). Debtor is owned by Dr. Jose L. Veras-Pola, who is a debtor in Chapter 11 Case Number 26-10734 pending before this Court. Several factors caused Debtor's financial problems. The Covid-19 pandemic and government shutdown caused loss in rental income. Recent storms caused significant damages, some of insurance refused to cover or cost to repair was less than Debtor's deductible. Due to the foregoing issues, Debtor defaulted on its mortgage and the office building was set for foreclosure in April, 2026. Debtor filed this case to stop the foreclosure sale and prevent the loss of significant equity for other creditors and the owners. The Debtor projects sufficient funds through the net rental income sufficient to make distributions to creditors. The Plan essentially provides for a maximum of three years of payments to enable the Debtor to stabilize rental income and obtain refinancing or sell the property. The deadline for the refinance or sale (the "Refinance or Sale Event") shall be December 31, 2029 (the "Refinance or Sale Deadline"). Class 3 consists of Allowed General Unsecured Claims. General unsecured creditors include Miguel Elias ($210,000); and Adolfo Garcia ($200,000). Class 3 Allowed Claims shall be paid in full from proceeds of the Refinance or Sale Event. Class 3 inter-company claims or Claims held by Affiliates of the Debtor shall either be subordinated to non-affiliate Allowed Unsecured Claims or released/waived if proceeds from the Refinance or Sale Event are insufficient to pay the Affiliates' Claims. Estimated distribution is 100% for Class 3 Allowed Claims. This Class is impaired. Class 4 consists of Equity Interest Holders Ana De Aguilar and Jose L. Veras-Pola (50/50). Class 4 equity security holders shall retain their equity interests in the Debtor and will receive no distribution under the Plan. The Debtor shall fund Plan payments from rental revenues, with full payment of all Allowed Claims by December 31, 2029 from the proceeds of a sale of the Debtor’s property or a refinance of its obligations secured by the Property. Dr. Jose L. Veras-Pola will continue to act as manager of the Debtor after the Effective Date without any compensation for such services. A full-text copy of the Plan of Reorganization dated July 6, 2026 is available at https://urlcurt.com/u?l=U2f02k from PacerMonitor.com at no charge. About Conlin Street LLC Conlin Street LLC is a limited liability company that may be engaged in real estate ownership, property management, or related investment activities. Conlin Street LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. La. Case No. 26-10831) on April 7, 2026. In its petition, the Debtor estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. Judge Meredith S. Grabill oversees the case. Ryan James was appointed as Subchapter V Trustee. The Debtor is represented by Leo D. Congeni, Esq., at Brooks Gelpi Haase, LLC. CORELOGIC INC: Moody's Rates New Secured First Lien Debt 'B2' ------------------------------------------------------------- Moody's Ratings assigned a B2 rating to CoreLogic, Inc.'s (CoreLogic, dba Cotality) new backed senior secured first-lien credit facility consisting of a term loan due 2031 and a revolving credit facility expiring in 2031. Proceeds from the new term loan will be used to refinance its existing term loan. The outlook remains unchanged at stable. RATINGS RATIONALE Cotality's B3 Corporate Family Rating reflects the company's high financial leverage with LTM debt/EBITDA of roughly 8x as of March 31, 2026, modest interest coverage, and very modest free cash flow generation expected over the next year. The company's operating performance remains exposed to cyclical mortgage market conditions, with cash flow more volatile than revenue due to upfront costs associated with certain servicing and payment solutions products. Nevertheless, the rating is supported by Cotality's established, market leading position within the mortgage settlement services market, underpinned by longstanding customer relationships and solid profitability. Moody's views the company's liquidity as adequate. Cash balance was $55 million at March 31, 2026. Liquidity is supported by its new upsized revolver expiring in 2031. Moody's expects very modest free cash flow generation over the next year. Consistent with its cash flow seasonality, Moody's expects the company to rely on the revolver to fund operations, with some draw in 1H26 ($135 million outstanding as of March 31, 2026) and paydown in 2H26. The revolver is subject to compliance with a maximum 8.65x first lien net leverage ratio applicable only when 35% is drawn at quarter end. Moody's expects Cotality would maintain compliance with its financial covenant if it were measured over the next year. There are no financial covenants applicable to the term loans. All financial metrics cited reflect Moody's standard adjustments. The stable outlook reflects Moody's expectations for revenue growth in the low to mid single digit percentage over the next year with stable margins. The stable outlook also reflects Moody's expectations that the company will maintain adequate liquidity profile with breakeven to modestly positive free cash flow generation. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if Moody's expects: 1) debt/EBITDA to fall and remain below 6.5x; 2) free cash flow/debt to exceed 3%; 3) EBITA/Interest above 1.75x; 4) balanced financial policies; 5) good liquidity. The ratings could be downgraded if: 1) revenue visibility or EBITA margins become pressured by increased competition, regulatory changes or other factors; 2) free cash flow/debt is anticipated to remain negligible or negative; 3) liquidity deteriorates; 4) the company pursues aggressive shareholder-friendly financial policies, including debt-funded acquisitions or shareholder returns. The principal methodology used in these ratings was Business and Consumer Services published in February 2026. CoreLogic, Inc. (dba Cotality) based in Irvine, CA and controlled by affiliates of Stone Point Capital LLC and Insight Partners since 2021, provides property information and analytics, as well as mortgage underwriting related solutions. Revenue was around $2.1 billion for the last twelve months ended March 31, 2026. CRISCIONE MEYER: Commences Chapter 11 Bankruptcy in California -------------------------------------------------------------- On July 13, 2026, Criscione Meyer Entitlement LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Central District of California, Santa Ana Division. According to court filings, the debtor reports between $10 million and $50 million in liabilities owed to 1 to 49 creditors. The Statement of Financial Affairs (Official Form 107 or 207) must be filed by July 27, 2026. About Criscione Meyer Entitlement LLC Criscione Meyer Entitlement LLC is a Huntington Beach, California-based real estate development and parking lot operations company. The company manages six surface parking lots totaling approximately 69,000 square feet near L.A. Live in downtown Los Angeles and holds development entitlements to convert the properties into affordable residential housing. It is also involved in litigation concerning a loan dispute tied to its primary real estate assets. Criscione Meyer Entitlement LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-12130) on July 13, 2026. In its petition, the debtor reported estimated assets of $10 million to $50 million and estimated liabilities of $10 million to $50 million. Honorable Mark D. Houle handles the case. The debtor is represented by Robert P. Goe, Esq., of Goe Forsythe & Hodges LLP. CRISCIONE MEYER: Voluntary Chapter 11 Case Summary -------------------------------------------------- Debtor: Criscione Meyer Entitlement LLC 6552 Bolsa Avenue Suite A Huntington Beach, CA 92647 Business Description: Criscione Meyer Entitlement LLC is a real estate holding and development company that owns a six-parcel, approximately 1.58-acre commercial land assemblage in Los Angeles, currently operated as surface parking lots near downtown entertainment and convention venues. Chapter 11 Petition Date: July 13, 2026 Court: United States Bankruptcy Court Central District of California Case No.: 26-12130 Debtor's Counsel: Robert P. Goe, Esq. GOE FORSYTHE & HODGES, LLP 17701 Cowan Building D Suite 210 Irvine, CA 92614 Tel: (949) 798-2461 Fax: (949) 955-9437 E-mail: rgoe@goeforlaw.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $10 million to $50 million The petition was signed by Thuc Ba Tu as manager. The Debtor has confirmed in the petition that it has no unsecured creditors. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/3XAX2NY/Criscione_Meyer_Entitlement_LLC__cacbke-26-12130__0001.0.pdf?mcid=tGE4TAMA CROSSCOUNTRY HOLDCO: Moody's Affirms 'Ba3' CFR, Outlook Stable -------------------------------------------------------------- Moody's Ratings has affirmed the Ba3 long-term corporate family rating of CrossCountry Holdco, LLC (CCM) and the B1 long-term backed senior unsecured debt rating of CrossCountry Intermediate Holdco, LLC. The outlook is stable for both entities. The rating action follows the approval by Two Harbors Investment Corp.'s (TWO, unrated) shareholders of CCM's all-cash acquisition of TWO. The companies anticipate that the transaction will close in the second half of 2026. RATINGS RATIONALE The ratings affirmation reflects CCM's growing franchise in the US residential mortgage market, where it is a top 10 mortgage originator and the largest in the distributed-retail channel. The affirmation also incorporates the acquisition's credit-positive impact on CCM's financial profile. The acquisition of TWO's in-house servicing platform should complement CCM's distributed-retail business model by enabling it to capture the full economics through the life of the loan and support improved loan recapture rates. Based on TWO's current portfolio, CCM will add $159 billion in unpaid principal balance of mortgage servicing to its portfolio, providing significant scale and a lower cost, in-house servicing platform. Upon successful integration, Moody's expects the increased scale and diversification will enhance CCM's operating leverage, support strong profitability and moderately reduce earnings volatility. Despite the temporary decline in capitalization as a result of the acquisition, Moody's expects it to remain solid, supported by a robust hedging strategy that preserves equity and mitigates the impact of mortgage servicing rights (MSRs) fair value changes. The stable outlook reflects Moody's expectations that the integration risk of the TWO acquisition will be modest and that CCM will maintain strong profitability with limited volatility and solid capitalization. It also assumes that the company's funding and liquidity management policies will remain broadly unchanged over the next 12-18 months. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if the company: 1) strengthens its capitalization, such that its tangible common equity (TCE) to tangible managed assets (TMA) increases and remains above 22.0%; 2) reduces its reliance on secured funding; 3) maintains strong profitability, as measured by net income to average managed assets above 4.0%; and 4) reduces the proportion of non-agency/non-government loan originations relative to total originations. The ratings could be downgraded if company: 1) weakens its financial profile or franchise position, such that TCE/TMA declines below 12% or net income to average managed assets remains below 2.0%; 2) increases the proportion of non-agency/non-government loan origination volumes to more than 30% of total originations without a commensurate increase in liquidity sources and capital to address the associated risks; or 3) increases refinance risk, such that the average remaining maturity of its warehouse lines declines and is expected to remain below 12 months. In addition, Moody's could downgrade the long-term senior unsecured debt rating if secured MSR debt or other secured corporate debt rises and Moody's expects it to remain above 50% of total corporate debt. The principal methodology used in these ratings was Finance Companies published in July 2024. CCM's "Assigned Standalone Assessment" adjusted score of ba3 is set three notches below the "Financial Profile Score" score of Baa3 to reflect the company's refinancing risk from short-term funding reliance and operational and regulatory risk. CYCURION INC: Board Rejects 7-for-1 Reverse Stock Split ------------------------------------------------------- Cycurion, Inc.'s board and management decided against a proposed 7-for-1 reverse stock split, saying the action was not in stockholders' best interests at this time. The decision was disclosed in a shareholder letter furnished as a press release exhibit to a Form 8-K filed with the Securities and Exchange Commission. Management said it believed another reverse split could harm stockholders without resolving the company's listing risk. It cited Cycurion's prior split experience and trading patterns it said were inconsistent with fair and orderly markets. Cycurion said it is in contact with Nasdaq about the trading activity and will pursue legal, regulatory and forensic remedies if its investigation substantiates misconduct. The timing and outcome of any regulatory or enforcement action remain uncertain. The company also reported an annual revenue run rate of about $28 million, including approximately $15.5 million in organic revenue, and said it had secured a 10-year contract valued at $58 million and about $8 million of contracted backlog. About Cycurion, Inc. Cycurion, Inc. is a McLean, Virginia-based provider of cybersecurity and information technology services to federal civilian, defense and judicial agencies and commercial clients. Its services include cybersecurity audits, consulting, managed security, virtual chief information security officer support, threat intelligence and training. The company's ARx platform provides web-application protection and managed security features, including denial-of-service, endpoint, bot, firewall and application-programming-interface protection. Its customers include government agencies, healthcare organizations, higher-education institutions and businesses. In an audit report dated March 31, 2026, WWC, P.C. included a going-concern paragraph, citing recurring operating losses and a working capital deficit. The conditions raised substantial doubt about Cycurion's ability to continue as a going concern. As of March 31, 2026, Cycurion had total assets of $31.45 million, total liabilities of $17.76 million and total stockholders' equity of $13.68 million. DARREN CASEY: Case Summary & 13 Unsecured Creditors --------------------------------------------------- Debtor: Darren Casey Interests, Inc. d/b/a Casey Development, Ltd. 200 E. Basse, Suite 300 San Antonio, TX 78209 Chapter 11 Petition Date: July 6, 2026 Court: United States Bankruptcy Court Northern District of Texas Case No.: 26-42978 Judge: Hon. Mark X Mullin Debtor's Counsel: Davor Rukavina, Esq. MUNSCH HARDT KOPF & HARR, P.C. 500 N. Akard St, Suite 4000 Dallas, TX 75201 Tel: 214-855-7500 Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Darren B. Casey as president. A copy of the Debtor's list of its 13 unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/N3Y5NUA/Darren_Casey_Interests_Inc_dba__txnbke-26-42978__0007.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/HCZPSQY/Darren_Casey_Interests_Inc_dba__txnbke-26-42978__0001.0.pdf?mcid=tGE4TAMA DISCOUNT WAREHOUSES: Gets Interim OK to Use Cash Collateral ----------------------------------------------------------- Discount Warehouses, LP received interim approval from the U.S. Bankruptcy Court for the Eastern District of Michigan to use cash collateral. Under the interim order, the Debtor is authorized to use up to $26,000 in cash collateral per month to fund its operations. The Debtor has no alternative source of working capital and requires access to rental income from its apartment complex to operate the property and pay other operating expenses. The Debtor's primary asset is the Clio Gardens Apartments, valued at approximately $5.2 million, along with minimal office equipment, tenant deposits of $26,326.38, tenant receivables of $4,552, and only $510 in its Chase bank account. The apartment business is expected to remain cash-flow positive, generating projected monthly revenue of $28,000 against anticipated operating expenses of $23,310. Creditors that may hold security interests in the cash collateral include Zlur Funding, which has a filed UCC-1 financing statement and is owed $8,518; and Churchill MRA Funding I, which is owed approximately $2.84 million under loan documents. The Debtor has been unable to locate a filed UCC-1 in either Michigan or Nevada and does not concede that Churchill holds a perfected security interest. As adequate protection, the Debtor offers replacement liens on the cash collateral to the first perfected lienholder, preserving the same priority and value as any valid pre-petition lien. The Debtor also agrees to pay all post-petition taxes and charges to prevent priming liens and commits not to sell or dispose of assets outside the ordinary course of business without court approval. Churchill's mortgage is additionally protected by more than $2 million in estimated equity in the real estate, reducing the risk of any decline in collateral value. The order is available at http://bankrupt.com/misc/DiscountWarehouses_ICCOrder36.pdf The court scheduled a final hearing for July 24 and set a July 20 deadline for filing objections. About Discount Warehouses LP Discount Warehouses, LP sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mich. Case No. 26-31510) on June 26, 2026. In the petition signed by Barty Cohen, partner, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Joel D. Applebaum oversees the case. Peter T. Mooney, Esq., at Simen, Figura & Parker, PLC, represents the Debtor as legal counsel. E. GLUCK: Wins Approval for Chapter 11 Liquidation Plan ------------------------------------------------------- Clara Geoghegan of Law360 Bankruptcy Authority reports that a New York bankruptcy judge has granted final approval to E. Gluck Corp.'s Chapter 11 liquidation plan, authorizing the watch designer and manufacturer to carry out its court-approved wind-down strategy. The order positions the company to exit bankruptcy after navigating financial challenges tied to shifting consumer preferences. The confirmed plan provides a roadmap for liquidating the company's remaining assets, resolving outstanding claims and making distributions to creditors. E. Gluck sought Chapter 11 protection after changes in the retail marketplace and consumer purchasing behavior placed increasing pressure on its operations, the report states. The court's approval marks the culmination of the company's restructuring efforts under Chapter 11. With the liquidation plan now in effect, E. Gluck can complete the administration of its bankruptcy estate and conclude its case, according to Law360. About of E. Gluck Corporation E. Gluck Corporation -- https://egluck.com/ -- is an American watch manufacturer headquartered in Little Neck, New York. E. Gluck sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-12683 (MG)) on December 1, 2025. Judge Martin Glenn presides over the case. Alan D. Halperin at Halperin Battaglia Benzija, LLP, represents the Debtor as legal counsel. ECLIPSE FARMINGDALE: Unsecureds Will Get 13.73% over 60 Months -------------------------------------------------------------- Eclipse Farmingdale, LLC, submitted a Fifth Amended Disclosure Statement describing Chapter 11 Plan dated July 7, 2026. This Plan proposes to pay creditors of the Debtor from cash flow from the Debtor's operation of its fitness gym in Farmingdale, New York (the "Gym"). On February 14, 2024, Firestone filed a Verified Complaint in the Supreme Court of the State of New York, Nassau County entitled Firestone Financial, LLC v. Eclipse Farmingdale LLC, Eclipse Capital, LLC, Allen M. Pinero, and Eric Matthew Purther, Index No. 602724/2024 (the "State Court Case"). The Debtor spent significant resources addressing the State Court Case. However, the Debtor ultimately required the protections of the Court to reorganize. The Debtor commenced this reorganization so it could efficiently and effectively reorganize its debts, including the debt owed to Firestone which gave rise to the State Court Case. Class 4 consists of General Unsecured Claims. The allowed unsecured claims total $501,120.38. This Class shall receive a monthly payment of $1,147.08 for 60 months. This Class will receive a distribution of $68,825.00 or 13.73% of their allowed claims. The Debtor's managing members shall retain their interest in the Debtor following confirmation. The Debtor shall implement the Plan using cash flow from the Debtor's operation of its Gym. The Debtor intends to increase its cash flow through the rebranding of its Gym as a "Powerhouse" brand gym and through increasing its membership. The Debtor's anticipates, based on its recent projections, that it will generate net income over a five-year period of approximately $361,260.00 from operation of the Gym. A full-text copy of the Fifth Amended Disclosure Statement dated July 7, 2026 is available at https://urlcurt.com/u?l=mW6Sw5 from PacerMonitor.com at no charge. Counsel to the Debtor: Joseph M. Shapiro, Esq. Melinda D. Middlebrooks, Esq. Middlebrooks Shapiro, P.C. P.O. Box 1630 Belmar, NU 07719-1630 Tel: (973) 218-6877 Fax: (973) 218-6878 Email: middlebrooks@middlebrooksshapiro.com jshapiro@middlebrooksshapiro.com About Eclipse Farmingdale Eclipse Farmingdale LLC -- https://www.locations.blinkfitness.com/ -- doing business as Blink Fitness Farmingdale, is a gym operator. Eclipse Farmingdale LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 24-73019) on Aug. 1, 2024. In the petition filed by Eric Purther, as managing member, the Debtor estimated assets between $100,000 and $500,000 and estimated liabilities between $1 million and $10 million. The Honorable Bankruptcy Judge Alan S. Trust oversees the case. The Debtor is represented by Joseph Shapiro, at Middlebrooks Shapiro, P.C. EDEN ROC: Seeks Court Approval to Hire ShemanoLaw as Counsel ------------------------------------------------------------ Eden ROC Holdings LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire ShemanoLaw to serve as bankruptcy counsel. The firm will provide these services: (a) advise and counsel the company regarding matters of bankruptcy law; (b) represent the company regarding its legal rights and responsibilities under the Bankruptcy Code, the Federal Rules of Bankruptcy Procedure, the Local Bankruptcy Rules and the United States Trustee Notices and Guides, and assist in the administration of its bankruptcy estate; (c) advise the company with respect to the negotiation, preparation and confirmation of a plan of reorganization; (d) represent the company in proceedings or hearings before the Bankruptcy Court and in litigation relating to bankruptcy law; (e) assist the company in the preparation of reports, accounts, applications and orders involving matters of bankruptcy law; and (f) provide such other services as are typically rendered by counsel for a Chapter 11 debtor. David B. Shemano's current hourly rate is $725. The firm received a $25,000 prepetition retainer, of which $14,895 was applied to prepetition fees and expenses, leaving a balance of $10,105. The firm will seek allowance and payment of fees and expenses pursuant to sections 330 and 331 of the Bankruptcy Code. According to court filings, ShemanoLaw is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. The firm can be reached at: David B. Shemano, Esq. SHEMANOLAW 1801 Century Park East, Suite 2500 Los Angeles, CA 90067 Telephone: (310) 492-5033 E-mail: dshemano@shemanolaw.com About Eden ROC Holdings LLC Eden ROC Holdings LLC's principal asset is a single-family home located at 1115 La Altura Road in Beverly Hills, California. Eden ROC Holdings LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 2:26-bk-16137) on June 19, 2026. At the time of the filing, the company had estimated assets of between $10,000,001 and $50 million and liabilities of between $10,000,001 and $50 million. Judge Barry Russell oversees the case. ShemanoLaw is the company's legal counsel. ELEMENT SOLUTIONS: Moody's Puts 'Ba2' CFR on Review for Upgrade --------------------------------------------------------------- Moody's Ratings placed Element Solutions Inc's ("Element Solutions") ratings on review for upgrade, including its Ba2 corporate family rating, Ba2-PD probability of default rating, the Ba1 ratings on its backed senior secured revolving credit facility and its senior secured first lien term loan B3, and the B1 rating on its senior unsecured notes. Previously, the outlook was stable. The rating action follows the announcement of a definitive agreement for Element Solutions to be acquired by Solstice Advanced Materials Inc. ("Solstice"), in a cash and stock transaction valued at $14.5 billion, including the assumption of debt. The transaction is subject to shareholder and regulatory approvals and is expected to close in 1H 2027. RATINGS RATIONALE / FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Element Solutions' ratings were placed on review for upgrade as it would become a wholly owned subsidiary of Solstice following the acquisition, which is rated one notch higher at Ba1. The combined company would be a scaled advanced materials platform meaningfully reweighted toward electronics. The review will conclude once the transaction closes and there is clarity on the potential implications for Element Solutions' debt – whether it will be repaid, assumed, guaranteed by Solstice, or remain Element Solutions' obligation. Headquartered in Miami, FL, Element Solutions Inc produces a wide array of specialty chemicals and materials primarily sold into the automotive, electronics and industrial markets with leading positions in a number of niche markets. The company operates in two business segments: Electronics and Specialties. The principal methodology used in these ratings was Chemicals published in February 2026. ENDRA LIFE: Regains Compliance With Nasdaq's Minimum Equity Rule ---------------------------------------------------------------- ENDRA Life Sciences Inc. announced in a regulatory filing that it received written notice from The Nasdaq Stock Market LLC indicating that the Company has regained compliance with the minimum stockholders' equity requirement of $2,500,000 for continued listing set forth in Nasdaq Listing Rule 5550(b)(1). Discretionary Panel Monitor Pursuant to Nasdaq Listing Rule 5815(d)(4)(A), the Company will be subject to a Discretionary Panel Monitor for a period of one year from July 1, 2026. If, within the one-year monitoring period, the Staff finds the Company again out of compliance with any of Nasdaq's Listing Rules, notwithstanding Rule 5810(c)(2), the Company will not be permitted to provide the Staff with a plan of compliance with respect to that deficiency and the Staff will not be permitted to grant additional time for the Company to regain compliance, nor will the Company be afforded an applicable cure or compliance period pursuant to Rule 5810(c)(3). Instead, the Staff will issue a Delist Determination Letter and the Company will have an opportunity to request a new hearing with the initial Panel or a newly convened Hearings Panel if the initial Panel is unavailable. The Company will have the opportunity to respond and present to the Hearings Panel as provided by Listing Rule 5815(d)(4)(C). The Company's securities may be at that time delisted from Nasdaq. Background On April 20, 2026, the Nasdaq Listing Qualifications Staff issued a letter to the Company indicating that the Company's stockholders' equity as reported in its Annual Report on Form 10-K for the year ended December 31, 2025 was below the Minimum Stockholders' Equity Requirement. On April 27, 2026, in accordance with the Staff's letter, the Company requested a hearing before the Nasdaq Hearing Panel, and a hearing was held on May 28, 2026. About ENDRA Life ENDRA Life Sciences Inc., headquartered in Ann Arbor, Michigan, develops thermo-acoustic medical devices for accurate liver fat measurement to support metabolic disease detection, management, and GLP-1 therapy eligibility. The Company's technology platform, Thermo-Acoustic Enhanced Ultrasound (TAEUS), targets pharmaceutical companies, clinical research organizations, high-end primary care clinics, bariatric and metabolic clinics, and broader primary and internal medicine markets through a subscription-based model and traditional product sales. Incorporated in Delaware in 2007, ENDRA plans to seek regulatory approvals for its applications in the United States and European Union. Houston, Texas-based RBSM LLP, the Company's auditor since 2015, 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, generated negative cash flows from operating activities, has an accumulated deficit and has stated that substantial doubt exists about Company's ability to continue as a going concern. As of March 31, 2026, the Company had $3.44 million in total assets, $1.65 million in total liabilities, and $1.79 million in total stockholders' equity. ERASE SPA: Seeks Chapter 11 Bankruptcy in New York -------------------------------------------------- On July 14, 2026, Erase Spa Inc. 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 1 to 49 creditors. About Erase Spa Inc. Erase Spa Inc. is a New York, New York-based medical spa and laser treatment services provider offering a range of non-invasive aesthetic procedures. The company serves clients throughout the New York City market, providing laser hair removal, skin rejuvenation, body contouring and other cosmetic medical spa services. Court filings indicate the business continues operating while undergoing Chapter 11 reorganization. Erase Spa Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11616) on July 14, 2026. In its petition, the debtor reported estimated assets of $100,000 to $500,000 and estimated liabilities of $1 million to $10 million. The Debtor is represented by Lawrence Morrison, Esq. of Morrison Tenenbaum PLLC. ERIE KASH: Unsecureds to Get Share of Income for 3 Years -------------------------------------------------------- Erie Kash Out Properties LLC filed with the U.S. Bankruptcy Court for the Eastern District of Pennsylvania a Subchapter V Plan of Reorganization dated July 6, 2026. The Debtor, a Pennsylvania limited liability company, owns and operates a three-unit residential rental property located at 30 South 62nd Street, in Philadelphia, PA. The Property was purchased in June 2019 and is the Debtor's primary asset. Since acquisition, the Property experienced significant vacancy periods due to the COVID-19 pandemic and the need for substantial repairs to restore the units to rentable condition. These challenges disrupted rental income and contributed to financial difficulties, including the accumulation of secured and unsecured debts. As of July 6, 2026, all three units are fully rented, generating a stable monthly rental income. The Debtor has addressed the repair needs and stabilized operations, enabling it to propose this Plan of Reorganization under Subchapter V of Chapter 11. This Plan of Reorganization under chapter 11 of Title 11, United States Code, proposes to pay creditors of the Debtor from its future income. Class 5 consists of all timely-filed allowed general unsecured claims, which will receive pro rata distributions funded by the Debtor's projected net disposable income over three years. This class is impaired and entitled to vote. Total dollar amount of unsecured claims: $189.10. This Class will receive a distribution of 100% of their allowed claims. Class 6 consists of all equity interests of the debtor, which will be retained, unaltered, and outstanding. This class is not impaired and not entitled to vote. The Plan will be funded exclusively through rental income generated from the Debtor's real property located at 30 South 62nd Street, Philadelphia, Pennsylvania (the "Property"). The Debtor shall retain and continue to operate the Property as an income-producing rental asset throughout the term of the Plan. A full-text copy of the Plan of Reorganization dated July 6, 2026 is available at https://urlcurt.com/u?l=QHsmbN from PacerMonitor.com at no charge. About Erie Kash Out Properties LLC Erie Kash Out Properties LLC, a Pennsylvania limited liability company, owns and operates a three-unit residential rental property located at 30 South 62nd Street, in Philadelphia, PA. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Pa. Case No. 26-11440) on April 6, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Ashely M. Chan presides over the case. Demetrius J. Parrish, Esq. at The Law Offices Of Demetrius J. Parrish represents the Debtor as legal counsel. ESCAMBIA COUNTY: Case Summary & 20 Largest Unsecured Creditors -------------------------------------------------------------- Debtor: Escambia County Alabama Community Hospitals, Inc. DBA Atmore Community Hospita 401 Medical Park Drive Atmore, AL 36502 Business Description: Escambia County Alabama Community Hospitals, doing business as Atmore Community Hospital, operates an acute care hospital in Atmore, Alabama, and is governed by the Escambia County Healthcare Authority Board of Directors. The hospital provides inpatient, outpatient, and 24-hour emergency care, together with primary and urgent care, diagnostic and specialty services, rehabilitation therapies, home healthcare, and wound care. It serves patients in Atmore and surrounding communities. Chapter 11 Petition Date: July 10, 2026 Court: United States Bankruptcy Court Southern District of Alabama Case No.: 26-12059 Judge: Hon. Jerry C. Oldshue Debtor's Counsel: Alexandra K Garrett, Esq. SILVER VOIT GARRETT & WATKINS 23210 Highway 98, Suite B2 Fairhope, AL 36532 Tel: (251) 343-0800 Email: agarrett@silvervoit.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $1 million to $10 million The petition was signed by Debbie Rowell as chair, board of directors. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/IUNR75I/Escambia_County_Alabama_Community__alsbke-26-12059__0001.0.pdf?mcid=tGE4TAMA List of Debtor's 20 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount 1. 626 OpCo, LLC $62,513 1225 Broken Sound Parkway Suite A Boca Raton, FL 33487 2. Alabama Power Company $167,034 PO Box 242 Birmingham, AL 35292-0001 3. Alina Teleheath $48,000 17310 Kilmahew Pl. Richmond, TX 77407 4. Cardinal Health 110, LLC $64,947 C/O Bank of America PO Box 402605 Atlanta, GA 30384-2605 5. Cardinal Health Med Products $134,564 PO Box 730112 Dallas, TX 75373-0112 6. COL Imaging Solutions, LLC $98,051 100 Zachary Dr. Scott, LA 70583 7. CPC Office Technologies $57,620 910 E. Cervantes St. Pensacola, FL 32501 8. Draffin & Tucker, LLP $45,720 P.O. Box 71309 Albany, GA 31708-1308 9. Emcare Physician Services, Inc. $190,529 13737 Noel Road Suite 1600 Dallas, TX 75240 10. Forefront Healthcare, LLC $395,831 22622 Harper Ave. Saint Clair Shores, MI 48080 11. Inspirien $128,209 505 Cloverdale Road Suite 104 Montgomery, AL 36106 12. Lifeguard Ambulance Service $187,000 950 22nd Street North Suite 800 Birmingham, AL 35203 13. Qualivis, LLC $45,720 PO Box 674913 Dallas, TX 75267-4913 14. Quest Diagnostics $71,338 500 Plaza Dr. Secaucus, NJ 07094 15. Restorix Health, Inc. $103,192 3445 N Causeway Blvd Suite 600 Metairie, LA 70002 16. Rose Office Systems, Inc. $48,657 PO Box 608 Saginaw, AL 35137 17. ServPro $86,000 40774 US-31 Brewton, AL 36426 18. Siemens Healthcare Diagnostics $59,464 PO Box 121102 Dallas, TX 75312-1102 19. Trubridge, LLC $252,179 4 St Emanuel St. Mobile, AL 36602 20. Western Healthcare, LLC $77,787 13155 Noel Rd Suite 200 Dallas, TX 75240 F-STAR SOCORO: Court OKs Bid Rules for El Paso Properties Sale -------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, has granted F-Star Socorro, L.P. and its affiliated debtors and debtors, to conduct bidding procedures for the sale of Property, free and clear of liens, claims, interests, and encumbrances. The Debtors own and operate several commercial and industrial properties in El Paso, Texas, including 1340 Bob Hope Drive, El Paso, Texas totaling over 190,000 square feet of net rentable area on over 9 acres of land; vacant land at 11091 Alameda Avenue, Socorro, TX; vacant warehouse and distribution facilities at 11891 Alameda Avenue, Socorro, Texas, totaling over 860,000 square feet of net rentable land on over 34 acres; that certain land parcel of 13.3579 acres with PID #15511, Socorro, TX; that certain land parcel of 25.52 acres with PID #173179, Socorro, TX; and that certain land parcel of 66.476 acres with PID #392798, Socorro, TX. Other than 11891 Alameda Property and the undeveloped land, the portfolio is fully leased to thirteen tenants under long term leases expiring anywhere from 2026 to 2036. The lienholder of the Properties is RC PV Lender I, LLC. The Bidding Procedures authorized by the Order are permitted by sections 105, 363, 365, 503, and 507 of the Bankruptcy Code. The Debtors, with the assistance of their advisors, are engaged in a fulsome marketing and sales process to solicit and develop the highest or otherwise best offer for the Properties. The Sale Notice is reasonably calculated to provide all interested parties with timely and proper notice of the Auction(s). Each Qualified Bidder participating at an Auction (if any) shall be required to confirm that it has not engaged in any collusion with respect to the bidding or the applicable Sale(s). The Auction(s) (if any) shall be transcribed or recorded. The deadline for the Debtors to select a Stalking Horse Bidder for any Property is August 3, 2026, at 4:00 p.m. (prevailing Central Time). Any objection to the designation of a Stalking Horse Bidder(s) or to the Bid Protections set forth in the Stalking Horse Notice and Stalking Horse Agreement(s) shall be filed by August 10, 2026, at 4:00 p.m. (prevailing Central Time). To the extent any Stalking Horse Objection is timely filed and is unresolved, the Court will hold a hearing on August 14, 2026, at 9:00 a.m. (prevailing Central Time), subject to Court availability. Only those Contracts designated by a Successful Bid will be assumed and assigned to such Successful Bidder. The Debtors shall consult in good faith with the Consultation Parties regarding all material aspects of the Sale process, as outlined more extensively in the Bidding Procedures. About F-Star Socorro LP F-Star Socorro, L.P. and affiliates are commercial real estate companies that develop and invest in residential, hospitality, retail, office, and industrial properties. Their portfolio includes commercial and industrial properties in El Paso, Texas, and a 122-acre mixed-use development at the border of Paradise Valley and Scottsdale, Arizona, anchored by a newly constructed Ritz-Carlton resort and surrounding residential units. The Debtors sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90607) on November 4, 2025. At the time of the filing, F-Star listing up to $50,000 in both assets and liabilities. Judge Alfredo R. Perez presides over the cases. The Debtors tapped Nicholas J. Hendrix, Esq., at O'Melveny & Myers, LLP as bankruptcy counsel; Lance Miller of Pivot Management Group, LLC as chief restructuring officer; and Stretto, Inc. as claims and noticing agent. The U.S. Trustee for Region 7 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 case. The committee is represented by Kutak Rock LLP. FAIRWAY AMERICA: Seeks to Hire Sussman Shank as Legal Counsel ------------------------------------------------------------- Fairway America, LLC and its affiliate seek approval from the U.S. Bankruptcy Court for the District of Oregon to employ Sussman Shank LLP as their general bankruptcy counsel. The firm will provide these services: (a) provide the Debtors with advice on its duties and responsibilities as Debtors-in-Possession; (b) prepare and file schedules; (c) defend motions for relief from stay; (d) analyze and object to claims; (e) formulate and obtain approval of a plan of reorganization; (f) negotiate with creditors and other parties in interest; (g) pursue avoidable transfer actions; and (h) perform all other matters requiring legal representation in these Chapter 11 cases. Prior to the Petition Date, the Debtors paid Sussman Shank LLP a total of $69,237.37, of which $10,000 is held as a retainer to be applied to post-petition fees and expenses, subject to Court approval. Pursuant to 11 U.S.C. Sec. 328, the firm may refresh the retainer upon exhaustion and apportion its fees 70% to Fairway America, LLC and 30% to Fairway America Management Group II LLC. Sussman Shank LLP is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Douglas R. Ricks, Esq. SUSSMAN SHANK LLP 1000 SW Broadway, Suite 1400 Portland, OR 97205-3089 Telephone: (503) 227-1111 Facsimile: (503) 248-0130 E-mail: dricks@sussmanshank.com About Fairway America, LLC Fairway America, LLC is a Tigard, Oregon-based boutique investment manager specializing in private real estate investments. The company provides investment management services focused on real estate opportunities and related private investment strategies. Fairway America, LLC and its debtor affiliate sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-32378) on July 8, 2026. In its petition, the debtor reported estimated assets of $5.5 million and estimated liabilities of $11.8 million. Honorable Teresa H. Pearson handles the case. The debtor is represented by Douglas R. Ricks, Esq., of Sussman Shank LLP. FAIRWAY AMERICA: Taps Eric Camm of TurningPointe LLC as CRO ----------------------------------------------------------- Fairway America, LLC and its affiliate seek approval from the U.S. Bankruptcy Court for the District of Oregon to employ Eric Camm, director and president of Capital Advisory for TurningPointe, LLC dba Turning Point Strategic Advisors, to serve as chief restructuring officer. Mr. Camm will provide these services: (a) serve as Chief Restructure Officer and work with the Client's management team and legal counsel on strategic decision-making related to ongoing operations and a potential Chapter 11 bankruptcy filing; (b) assist the Client with identifying potential financing for a bankruptcy and assist with the negotiation of financing terms, as requested by the Client; (c) review the Client's existing forecast and provide feedback regarding the highest and best use of funds to extend the Client's runway; (d) prepare and update a 13-week cash/liquidity forecast on a biweekly basis to enhance near-term cash management and visibility; and (e) undertake such other actions as are requested by the Board of Directors or are necessary to fulfill the Chief Restructuring Officer role and the agreed upon course of action for the Client. Eric Camm will receive an hourly rate of $500. Other professionals' hourly rates are $425 for Principals, $350 for Managers/Senior Consultants, $325 for Analysts, and $250 for Staff Accountants. The engagement also requires an initial $10,000 retainer. According to court filings, the professional is a "disinterested person" as that term is defined in the Bankruptcy Code and has no connection with creditors or any other adverse party and represents no interest adverse to the estates. The firm can be reached at: Eric Camm TurningPointe, LLC dba Turning Point Strategic Advisors 2003 Western Ave, Ste 660 Seattle, WA, 98121 Telephone: (206) 923-8880 E-mail: EricC@turning-point.com About Fairway America, LLC Fairway America, LLC is a Tigard, Oregon-based boutique investment manager specializing in private real estate investments. The company provides investment management services focused on real estate opportunities and related private investment strategies. Fairway America, LLC and its debtor affiliate sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-32378) on July 8, 2026. In its petition, the debtor reported estimated assets of $5.5 million and estimated liabilities of $11.8 million. Honorable Teresa H. Pearson handles the case. The debtor is represented by Douglas R. Ricks, Esq., of Sussman Shank LLP. FAIRWAY AMERICA: Taps Sussman Shank as General Bankruptcy Counsel ----------------------------------------------------------------- Fairway America, LLC and its affiliate seek approval from the U.S. Bankruptcy Court for the District of Oregon to hire Sussman Shank LLP to serve as general bankruptcy counsel. The firm will provide these services: (a) provide the Debtors with advice on its duties and responsibilities as Debtors-in-Possession; (b) prepare and file schedules; (c) defend motions for relief from stay; (d) analyze and object to claims; (e) formulate and obtain approval of a plan of reorganization; (f) negotiate with creditors and other parties in interest; (g) pursue avoidable transfer actions; and (h) handle all other matters requiring legal representation in these Chapter 11 cases. Prior to the Petition Date, the Debtors paid Sussman Shank LLP a total of $69,237.37, of which $10,000 is held as a retainer to be applied to post-petition fees and expenses, subject to Court approval. Pursuant to 11 U.S.C. Section 328, the firm may refresh its retainer upon exhaustion of the funds and may apportion its fees 70% to Fairway America and 30% to Fairway America Management Group II LLC. Expenses will be tracked separately for each Debtor. Sussman Shank 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: Douglas R. Ricks, OSB No. 044026 SUSSMAN SHANK LLP 1000 SW Broadway, Suite 1400 Portland, OR 97205-3089 Telephone: (503) 227-1111 Facsimile: (503) 248-0130 E-mail: dricks@sussmanshank.com About Fairway America, LLC Fairway America, LLC is a Tigard, Oregon-based boutique investment manager specializing in private real estate investments. The company provides investment management services focused on real estate opportunities and related private investment strategies. Fairway America, LLC and its debtor affiliate sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-32378) on July 8, 2026. In its petition, the debtor reported estimated assets of $5.5 million and estimated liabilities of $11.8 million. Honorable Teresa H. Pearson handles the case. The debtor is represented by Douglas R. Ricks, Esq., of Sussman Shank LLP. FLAWLESS CONSTRUCTION: Case Summary & One Unsecured Creditor ------------------------------------------------------------ Debtor: Flawless Construction LLC 1025 North Claiborne Avenue New Orleans, LA 70116 Business Description: Flawless Construction LLC is a single-asset real estate company that owns a residential property at 1425 North Prieur Street in New Orleans, Louisiana. Chapter 11 Petition Date: July 8, 2026 Court: United States Bankruptcy Court Eastern District of Louisiana Case No.: 26-11658 Judge: Hon. Meredith S Grabill Debtor's Counsel: Edwin M. Shorty Jr., Esq. EDWIN M. SHORTY, JR. & ASSOCIATES 650 Poydras Ave., Ste 2515 New Orleans, LA 70130 Tel: 504-207-1370 Fax: 504-207-0850 Email: EShorty@eshortylawoffice.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Tracy Williams as manager. The Debtor identified U.S. Bank Trust Company, located at 4801 Frederick Street in Owensboro, Kentucky, as its only unsecured creditor, with a claim totaling $414,558. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/2H4NUAA/Flawless_Construction_LLC__laebke-26-11658__0001.0.pdf?mcid=tGE4TAMA FOCUS UTILITY: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------ Debtor: Focus Utility Services, LLC 2600 South SR 7 Miramar, FL 33023 Business Description: Focus Utility Services provides utility locating and inspection, temporary traffic control, hydro and vacuum excavation, line and manhole cleaning, site restoration, and emergency response services. Based in Miramar, Florida, the company supports infrastructure projects in the power delivery, telecommunications, and oil-and-gas industries. Chapter 11 Petition Date: July 12, 2026 Court: United States Bankruptcy Court Southern District of Florida Case No.: 26-19103 Judge: Hon. Scott M. Grossman Debtor's Counsel: Jaitegh Singh, Esq. SINGH LAW FIRM P.A. 701 Brickel Avenue, Suite 1550 Miami, Fl 33131 Tel: (866) 746-4452 E-mail: jsingh@singhfirm.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Estephana Toubeaux as manager and 50% owner. 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/JRE5W7A/Focus_Utility_Services_LLC__flsbke-26-19103__0002.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/JV5LJMI/Focus_Utility_Services_LLC__flsbke-26-19103__0001.0.pdf?mcid=tGE4TAMA FREE SPEECH: Jones' Co. Opposes Sandy Hook Victims' Stay Appeal --------------------------------------------------------------- Emlyn Cameron of Law360 Bankruptcy Authority reports that Alex Jones' media company has urged the Texas Supreme Court to reject a request by Sandy Hook shooting victims to obtain a license allowing them to operate the Infowars platform during the parties' continuing legal battle. The company maintains that the proposal would improperly interfere with pending bankruptcy and appellate proceedings. The conflict arises from efforts by the Sandy Hook families to enforce the multibillion-dollar defamation judgments they won after Jones falsely claimed that the 2012 massacre was staged. Those judgments have become a central issue in Jones' bankruptcy cases as creditors pursue available assets to satisfy their claims, the report relays. According to the company's filing, allowing the families to license the website before the courts fully resolve the dispute would grant them relief they are not legally entitled to receive at this stage. The company asked the state's highest court to deny the application and leave existing control of the website unchanged pending further proceedings. About Free Speech Systems Free Speech Systems LLC is a broadcast media production and distribution company that provides broadcasting aural programs by radio to the public. Free Speech Systems is a family-run business founded by Alex Jones. FSS is presently engaged in the business of producing and syndicating Jones' radio and video talk shows and selling products targeted to Jones' loyal fan base via the Internet. Today, FSS produces Alex Jones' syndicated news/talk show (The Alex Jones Show) from Austin, Texas, which airs via the Genesis Communications Network on over 100 radio stations across the United States and via the internet through websites including Infowars.com. Due to the content of Alex Jones' shows, Jones and FSS have faced an all-out ban of Infowars from mainstream online spaces. Shunning from financial institutions and banning Jones and FSS from major tech companies began in 2018. Conspiracy theorist Alex Jones has been sued by victims' family members over Jones' lies that the 2012 Sandy Hook Elementary School shooting was a hoax. Jones' InfoW LLC and affiliates, IWHealth, LLC and Prison Planet TV, LLC, filed petitions under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 22-60020) on April 18, 2022. GABBY INVESTMENT: Court Denies Lawrence Property Sale ----------------------------------------------------- The U.S. Bankruptcy Court for the District of Massachusetts has denied the motion of Gabby Investment LLC, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor's Property is located at 106 East Haverhill Street, Lawrence, MA 01841. The Court has denied the motion without prejudice for the Debtor's failure to file a corrected Notice of Sale as required by the Court. About Gabby Investment LLC Gabby Investment LLC is a privately held investment and asset-holding company engaged in the ownership, management, and administration of investment-related assets and business interests. Gabby Investment LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-40673) on June 5, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $100,001 to $1 million. Honorable Bankruptcy Judge Elizabeth D. Katz handles the case. The Debtor is represented by Marcus L. Scott, Esq. of ScottCollins, LLP. Stephen Darr serves as Subchapter V Trustee. GALINDO EMPIRE: Gets Final OK to Use Cash Collateral ---------------------------------------------------- The Galindo Empire, LLC received final approval from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, to use cash collateral. The court entered a final order authorizing the Debtor to use cash collateral in accordance with the approved operating budget, subject to a 10% permitted variance per line item and 10% in the aggregate. The three-month budget projects that the Debtor will remain profitable while meeting its operating obligations. Total projected expenses from July through September amount to approximately $96,171. Projected sales for the same period total approximately $337,050, with commission expenses of about $217,782 and wages totaling roughly $24,601, resulting in an anticipated cumulative profit of approximately $30,085. The Debtor's authority to use cash collateral will remain in effect until the earlier of the effective date of a confirmed Chapter 11 plan or further court order. The Debtor's cash collateral consists primarily of customer payments and accounts receivable, subject to liens held by pre-petition lenders including the U.S. Small Business Administration, which secures an approximately $496,814 EIDL loan, and other secured lenders such as Mulligan Funding/FinWise Bank, Flash Funding, LLC, and Fenix Capital Funding, LLC. Secured creditors will be granted adequate protection through replacement liens on post-petition assets, with the same priority and enforceability as their pre-petition liens. These replacement liens do not apply to Chapter 5 avoidance actions and related proceeds. In addition, the SBA will continue to receive monthly payments of $1,500 until confirmation of a Chapter 11 plan. All parties retain the right to challenge the validity, extent, priority, or amount of any asserted lien or claim. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/zArjq from PacerMonitor.com. About The Galindo Empire LLC The Galindo Empire, LLC is a Texas-based limited liability company. The Galindo Empire sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-33599) on May 22, 2026. At the time of the filing, the Debtor disclosed estimated assets between $100,001 and $1 million and estimated liabilities between $100,001 and $1 million. Honorable Bankruptcy Judge Jeffrey P. Norman oversees the case. The Debtor is represented by Jeremy Thomas Wood, Esq., at the Law Office of Jeremy T. Wood, PLLC. Melissa Haselden, Esq., at Haselden Farrow, PLLC serves as Subchapter V trustee for the Debtor. GENERATIONS ON 1ST: Gets Extension to Access Cash Collateral ------------------------------------------------------------ Generations on 1st, LLC received another extension from the U.S. Bankruptcy Court for the District of North Dakota to use the cash collateral of secured creditor Red River State Bank. The court order approved the Debtor's 13th stipulation with Red River State Bank, allowing it to use the secured creditor's cash collateral for the period beginning July 8 and continuing through July 22, consistent with the approved budget. As protection, Red River State Bank will receive replacement liens on the Debtor's post-petition accounts receivable, intangibles, cash, and rents, with the same priority as its pre-petition liens, to the extent its original collateral declines in value. In addition, the bank will receive a monthly payment of $19,266.67. The stipulation is available at https://shorturl.at/3UjFu from PacerMonitor.com. The court also continued the hearing on the Debtor's cash collateral motion to July 22. About Generations on 1st and Parkside Place Generations on 1st, LLC, a company in Fargo, N.D., and its affiliate Parkside Place, LLC, filed Chapter 11 petitions (Bankr. D. N.D. Lead Case No. 25-30002) on January 6, 2025. In their petitions, Generations on 1st reported total assets of $13,567,037 and total liabilities of $12,137,102 while Parkside Place reported $7,221,882 in assets and $5,599,522 in liabilities. Judge Shon Hastings handles the cases. The Debtors are represented by Maurice VerStandig, Esq. at The Dakota Bankruptcy Firm. Red River State Bank, as lender, is represented by Drew J. Hushka, Esq., at Vogel Law Firm. GENERIC MANUFACTURING: Unsecureds Will Get 7% over 60 Months ------------------------------------------------------------ Generic Manufacturing Corporation, Inc., filed with the U.S. Bankruptcy Court for the District of New Jersey a Plan of Reorganization for Small Business dated July 7, 2026. The Debtor was incorporated in Nevada on June 2, 1995 and is registered with the California Secretary of State as foreign corporation. The Debtor manufactures a wide array of packaging and bottling machinery, including filling machinery, steam shrink tunnels, conveyors, labelers, sleevers, turn tables, bottle inverters, container unscramblers, cap sorting machinery, pack-off tables, and various other products. The Debtor generates revenue from the sale of new machines and from the sale parts. At the time of the filing, the Debtor had orders expected to bring in $200,000 in revenue when the machines are completed within six months. The Debtor is working to resolve issues with the interplay between the use of AI and the Debtor’s online marketing. The Debtor's Plan includes three classes of secured creditors. Class 2(a) includes the U.S. Small Business Administration (SBA). Debtor treats SBA’s claim as a fully allowed secured claim and proposes to continue making the monthly contractual payment of $731 until claim is paid in full. Interest rate is fixed at 3.75% per SBA loan documents. Class 2(b) includes the secured claim of Los Angeles County Tax Collector. Debtor proposed to pay the claim in full over 5 years at 18% interest. Class 2(c) includes Mycone Dental's bifurcated claim, which was determined based on the value of Debtor's assets. Debtor proposed to pay the allowed secured claim over 10 years at 2% interest. The balance is treated in Class 3 as a general unsecured claim, set to receive an estimated 7% pro rata distribution. The Debtor's Plan has one class of general unsecured creditors, which includes the bifurcated claim of Mycone Dental. Debtor proposes an estimated 7% distribution to holders of general unsecured claims. Class 3 consists of General Unsecured Claims. Monthly payments of $66d with the first payment of $663 due on the Effective Date, followed by 59 consecutive monthly payments thereafter, each in the amount of $663 and due on the 1st day of each month. The estimated percentage paid to general unsecured creditors is 7%. This Class is impaired. Class 4 consists of Equity Interest Holder Lonnie Belts, who holds a 100% equity security interest in the Debtor. Mr. Belts does not own a prepetition claim. He will retain his interest in the Debtor following plan confirmation. The Debtor will fund the Plan from continued business operation. The projections attached to the Plan were prepared by taking into consideration the Debtor's historical performance, performance during this bankruptcy case, and changes the Debtor anticipates to occur during the plan term. On Confirmation of the Plan, all property of the Debtor, tangible and intangible, including, without limitation, licenses, furniture, fixtures and equipment, will revert, free and clear of all Claims and Equitable Interests except as provided in the Plan, to the Debtor. The Debtor expects to have sufficient cash on hand to make the payments required on the Effective Date. A full-text copy of the Plan of Reorganization dated July 7, 2026 is available at https://urlcurt.com/u?l=uMoQkQ from PacerMonitor.com at no charge. Counsel to the Debtor: Michael Jay Berger, Esq. Sofya Davtyan, Esq. LAW OFFICES OF MICHAEL JAY BERGER 9454 Wilshire Blvd. 6th Floor Beverly Hills, CA 90212-2929 Telephone: (310) 271-6223 Facsimile: (310) 271-9805 E-mail: Michael.Berger@bankruptcypower.com Sofya.Davtyan@bankruptcypower.com About Generic Manufacturing Corporation Generic Manufacturing Corporation, Inc., manufactures packaging and bottling machinery serving multiple industries globally. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 6:26-bk-12720-SY) on April 8, 2026. In the petition signed by Lonnie Belts, president, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Scott H. Yun oversees the case. Michael Jay Berger, at Law Offices of Michael Jay Berger, is the Debtor's legal counsel. GOLDENPEAKS POLAND: Hires Alvarez & Marsal as Financial Advisor --------------------------------------------------------------- GoldenPeaks Poland Holding Limited and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Alvarez & Marsal North America, LLC as financial advisor. The firm will render these services: (a) perform a financial review of the company; (b) assist in developing for the board's review possible restructuring plans or strategic alternatives for maximizing the enterprise value of the company; (c) assist the board and work in cooperation with other company-engaged professionals in the administration of the Chapter 11 cases; (d) assist with financing issues; (e) perform other activities as are approved by the board and agreed to by Alvarez & Marsal; (f) assist the Debtors in the preparation of financial-related disclosures required by the Court; (g) assist the Debtors with implementing new stand-alone operational and financial organizational structures, systems and controls; (h) assist the Debtors with information and analyses required pursuant to their debtor-in-possession financing; (i) assist with the identification and implementation of short-term cash management procedures; (j) assist with the identification of executory contracts and leases and performance of cost/benefit evaluations with respect to the assumption or rejection of each; (k) assist the special committee and counsel focused on the coordination of resources related to the ongoing reorganization effort; (l) assist in the preparation of financial information for distribution to creditors and others; (m) attend at meetings and assist in discussions with potential investors, banks, and other secured lenders, any official committee(s) appointed in these Chapter 11 cases, the United States Trustee, other parties in interest and professionals hired by same, as requested; (n) analyze creditor claims by type, entity, and individual claim; (o) assist in the preparation of information and analysis necessary for the confirmation of a plan of reorganization in these Chapter 11 cases; (p) assist in the evaluation and analysis of avoidance actions; (q) assist in providing tax advisory services in connection with the restructuring; (r) assist with the Debtors' communications with creditors and other parties with respect to its strategic, financial, and operational matters, as requested and instructed by the Debtors and agreed to by the firm; and (s) render such other general business consulting or such other assistance as Debtors' management or counsel may deem necessary consistent with the role of a financial advisor and as agreed to by the firm. The firm's professionals will be paid at these hourly rates: Managing Directors $1,200 - 41,600 Directors $900 - $1,175 Associates $620 - $875 Analysts $450 - $625 In addition, the firm will seek reimbursement for expenses incurred. On May 28, 2026, at the direction of GoldenPeaks Poland Holding Ltd., Brookfield Asset Management wired $1,900,000 to the firm on the Debtors' behalf. Elan Ben-Avi, a managing director at Alvarez & Marsal North America, 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: Elan Ben-Avi Alvarez & Marsal North America, LLC 600 Madison Avenue, 8th Floor New York, NY 10022 Telephone: (212) 759-4433 Facsimile: (212) 759-5532 About GoldenPeaks Poland LLC GoldenPeaks Poland LLC is a European renewable energy developer. GoldenPeaks Poland LLC and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90564) on May 29, 2026. The case is jointly administered in Case No. 26-90564. In its petition, GoldenPeaks Poland disclosed up to $10 billion in assets and up to $1 billion in liabilities. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtors tapped Benjamin Lawrence Wallen, Esq., at Pachulski Stang Ziehl & Jones LLP as counsel; Alvarez & Marsal North America, LLC as financial advisor; and SSW Spaczynski, Szczepaniak, Wickel, Gozdziowska spk as special Polish counsel. GOLDENPEAKS POLAND: Seeks to Hire SSW as Special Polish Counsel --------------------------------------------------------------- GoldenPeaks Poland Holding Limited and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ SSW Spaczynski, Szczepaniak, Wickel, Gozdziowska sp.k. as special Polish counsel. The firm will provide legal services in the areas of Polish law, including, but not limited to, corporate, restructuring and tax law. The firm will advise the Debtors' management, financial advisors and general bankruptcy counsel in connection with its role as special Polish counsel. The hourly rates of the firm's counsel and staff are as follows: Piotr Grabarczyk, Partner €450 Monika Szczotkowska, Partner €450 Martin Bittner, Partner €450 Lukasz Grenda, Of Counsel €385 Maximilian Piekut, Counsel €330 Katarzyna Kusnierek, Senior Associate €275 Krzysztof Jaron, Associate €220 In addition, the firm will seek reimbursement for expenses incurred. SSW received two retainer payments from the Debtors during the year prior to the petition date, one in the amount of €40,000 and the other in the amount of $20,000, for services rendered in connection with its representation of the Debtors. Piotr Grabarczyk, a partner at SSW, also provided the following in response to the request for additional information set forth in Section D of the Revised U.S. Trustee Guidelines: Question: Did the firm agree to any variations from, or alternatives to, its standard or customary billing arrangements for this engagement? Answer: Yes. Question: Do any of the firm's professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Answer: No. Question: If the firm represented the Debtors in the 12 months prepetition, disclose the firm's billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If the firm's billing rates and material financial terms have changed post-petition, explain the difference and the reasons for the difference. Answer: N/A Question: Have the Debtors approved the firm's prospective budget and staffing plan, and, if so for what budget period? Answer: Yes. Mr. Grabarczyk 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: Piotr Grabarczyk, Esq. SSW Spaczynski, Szczepaniak, Wickel, Gozdziowska sp.k. Rondo ONZ 1, 27th Floor 00-124 Warsaw, Poland About GoldenPeaks Poland LLC GoldenPeaks Poland LLC is a European renewable energy developer. GoldenPeaks Poland LLC and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90564) on May 29, 2026. The case is jointly administered in Case No. 26-90564. In its petition, GoldenPeaks Poland disclosed up to $10 billion in assets and up to $1 billion in liabilities. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtors tapped Benjamin Lawrence Wallen, Esq., at Pachulski Stang Ziehl & Jones LLP as counsel; Alvarez & Marsal North America, LLC as financial advisor; and SSW Spaczynski, Szczepaniak, Wickel, Gozdziowska sp.k. as special Polish counsel. GOLDENPEAKS POLAND: Taps Pachulski Stang Ziehl & Jones as Counsel ----------------------------------------------------------------- GoldenPeaks Poland Holding Limited and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Pachulski Stang Ziehl & Jones LLP as counsel. The firm's services include: (a) assist, advise, and represent the Debtors in their consultations with estate constituents regarding the administration of the Chapter 11 cases; (b) assist, advise, and represent the Debtors in any manner relevant to their financing needs, asset dispositions, and leases and other contractual obligations; (c) assist, advise, and represent the Debtors in any issues associated with the acts, conduct, assets, liabilities, and their financial condition; (d) assist, advise, and represent the Debtors in the negotiation, formulation, and drafting of any plan of reorganization and disclosure statement; (e) assist, advise, and represent the Debtors in the performance of their duties and the exercise of their powers under the Bankruptcy Code, the Bankruptcy Rules, and any applicable local rules and guidelines; and (f) provide such other necessary advice and services as the Debtors may require in connection with the Chapter 11 cases. The firm will be paid at these hourly rates: Richard Pachulski, Attorney $2,650 Debra Grassgreen, Attorney $2,175 Michael Warner, Attorney $1,950 Maxim Litvak, Attorney $1,895 Steven Golden, Attorney $1,275 Benjamin Wallen, Attorney $1,195 Patricia Jeffries, Attorney $695 In addition, the firm will seek reimbursement for expenses incurred. The firm received payments from the Debtors during the year prior to the petition date in the aggregate amount of $749,923.45. Benjamin Wallen, Esq., an attorney at Pachulski Stang Ziehl & Jones, also provided the following in response to the request for additional information set forth in Section D of the Revised U.S. Trustee Guidelines: Question: Did the firm agree to any variations from, or alternatives to, its standard or customary billing arrangements for this engagement? Answer: No. Question: Do any of the firm's professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Answer: No. Question: If the firm represented the Debtors in the 12 months prepetition, disclose the firm's billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If the firm's billing rates and material financial terms have changed post-petition, explain the difference and the reasons for the difference. Answer: The material financial terms for the prepetition engagement remained the same as the engagement was hourly-based. The billing rates and material financial terms for the postpetition period remain the same as the prepetition period. The standard hourly rates of the firm are subject to periodic adjustment in accordance with the firm's practice following the conclusion of 2026. Question: Have the Debtors approved the firm's prospective budget and staffing plan, and, if so for what budget period? Answer: The Debtors and the firm have discussed an anticipated budget for the Chapter 11 cases. Mr. Wallen 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 L. Wallen, Esq. Pachulski Stang Ziehl & Jones LLP 700 Louisiana Street, Suite 4500 Houston, TX 77002 About GoldenPeaks Poland LLC GoldenPeaks Poland LLC is a European renewable energy developer. GoldenPeaks Poland LLC and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90564) on May 29, 2026. The case is jointly administered in Case No. 26-90564. In its petition, GoldenPeaks Poland disclosed up to $10 billion in assets and up to $1 billion in liabilities. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtors tapped Benjamin Lawrence Wallen, Esq., at Pachulski Stang Ziehl & Jones LLP as counsel; Alvarez & Marsal North America, LLC as financial advisor; and SSW Spaczynski, Szczepaniak, Wickel, Gozdziowska spk as special Polish counsel. GRADE ISLE: Seeks 120-Day Extension of Plan Filing Deadline ----------------------------------------------------------- Grande Isle Towers I & II Condominium Association Inc. asked the U.S. Bankruptcy Court for the Middle District of Florida to extend its exclusivity periods to file a plan of reorganization for additional one hundred twenty days. This is the Debtor's first request for such an extension. The deadline for non-governmental creditors to file proofs of claim concluded on July 6, 2026. The Debtor is actively auditing those filed claims, including utilizing specialized forensic building engineers to establish a clean, objective Quantum Meruit fair market-value baseline for physical property stabilization work, and intends to quickly enter constructive claim negotiations or file formal objections where appropriate. The Debtor explains that while this case involves a concentrated pool of creditors, it presents extraordinary multijurisdictional complexity. This complexity is driven by the direct, overlapping interplay between: (a) the Debtor's active first-party property insurance coverage lawsuit against Steadfast Insurance Company pending in the District Court for the Middle District of Florida (Ft. Myers Division)(the "Federal Insurance Litigation"); (b) the disputed claims of StopLoss Logistics, LLC and the associated derivative mechanic's liens clouding individual unit titles asserted in a Florida state court case pending in the Circuit Court for Lee County, with StopLoss having also instituted a Reorganization proceeding in the Bankruptcy Court for the Southern District of Texas (Houston Division); and (c) highly contested attorneys' fee claims filed by the Debtor's former counsel regarding terminated representation in the Federal Litigation. On July 6, the United States District Court presiding over the Federal Insurance Litigation issued a major scheduling order setting a comprehensive Case Management Conference and Motion to Compel Discovery hearing for August 4. Providing the Debtor with an extension of exclusivity will prevent speculative, competing plans from disrupting these major judicial breakthroughs and ensure the delivery of a certain, structured, and fully funded Plan of Reorganization. Counsel to the Debtor: Kristopher Aungst, Esq. Paragon Law, LLC 2665 S Bayshore Dr., Suite 220-10 Miami, FL 33133 Telephone: (305) 812-5443 Email: ka@paragonlaw.miami About Grande Isle Towers I & II Condominium Association, Inc. Grande Isle Towers I & II Condominium Association, Inc. is a residential condominium association responsible for the management, maintenance, and administration of a multi-unit residential property, including common areas, building operations, and community services for unit owners. Grande Isle Towers I & II Condominium Association, Inc., sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-00951) on April 27, 2026. In its petition, the Debtor reports estimated assets between $100,001 and $1,000,000 and estimated liabilities between $10 million and $50 million. The Debtor is represented by Kristopher E. Aungst, Esq., at Paragon Law, LLC. GREEN TREE: Court Extends Cash Collateral Access to Aug. 4 ---------------------------------------------------------- Green Tree, LLC received another extension from the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, to use cash collateral. The court issued a seventh interim order authorizing the Debtor to use cash collateral through August 4, subject to its budget and an aggregate variance of up to 10% per line item, unless otherwise agreed by the lien claimants. The secured creditors with liens on the cash collateral include the U.S. Small Business Administration, The Huntington National Bank, Square Financial Services, Inc., and any other unknown lien claimants. As adequate protection, the court granted these lien claimants post-petition replacement liens. These replacement liens attach to the Debtor's post-petition cash collateral and other property of the same or substantially equivalent type as the lien claimants' pre-bankruptcy collateral, and they retain the same relative priority held before bankruptcy. The order preserves all contractual and legal rights of both the Debtor and the secured creditors. A further hearing is scheduled for August 3. The order is available at https://short.do/g5uHXg from PacerMonitor.com. About Green Tree LLC Green Tree, LLC, doing business as X-Golf Glenview and X-Golf South Loop, operates indoor golf entertainment venues offering simulator-based golf play, instruction, leagues, and private events, serving customers in Glenview, Illinois, and Chicago, Illinois, and operates within the amusement and recreation services industry. Green Tree filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-19313) on December 17, 2025, with $1 million to $10 million in assets and liabilities. James Joeng, member, signed the petition. Judge Michael B. Slade presides over the case. Gregory K. Stern, Esq., at Gregory K. Stern, P.C. represents the Debtor as legal counsel. H.B. FULLER: Moody's Affirms 'Ba2' CFR, Outlook Stable ------------------------------------------------------ Moody's Ratings has affirmed H.B. Fuller Company's ("Fuller") Ba2 Corporate Family Rating, Ba2-PD Probability of Default Rating as well as its Ba1 senior secured bank credit facilities ratings and Ba3 senior unsecured notes ratings. Fuller's SGL-2 Speculative Grade Liquidity rating remains unchanged. The outlook is stable. RATINGS RATIONALE The affirmation of the ratings follows the company's announcement on June 25 that it made a recommended cash offer to acquire Advanced Medical Solutions Group plc (AMS) for an enterprise value of 715 million British pounds (approximately $970 million). The transaction will be funded with incremental debt and implies a 12.9x 2026 EBITDA multiple before synergies and an 8x multiple after synergies. The transaction has been approved by Fuller's board but is still subject to AMS shareholder and regulatory approval and customary closing conditions. The company expects the transaction to close by the end of 2026. Current instrument ratings reflect the current capital structure and may change depending on the share of secured and unsecured debt in the final capital structure. The transaction will improve the company's business profile by increasing its presence in medical adhesives, which are specialized products with higher barriers to entry, attractive growth rates and margins. At the same time, the transaction will increase leverage but Moody's expects the company to restore its credit metrics to Moody's triggers within two years of the transaction close. This is the largest debt-funded acquisition by Fuller in the last five years and it will increase debt by about 45%, but EBITDA only by 9% before synergies and 17% with synergies. Pro forma for the acquisition and assuming about $1 billion of additional debt, Moody's adjusted debt/EBITDA would increase to 4.6x in the twelve months ended May 2026 or 4.2x including synergies from the current level of 3.5x. Moody's expects the company to delever to 4.1x in 2027 and 3.6x in 2028. Moody's views the acquisition as complementary to the company's existing medical business, allowing H.B. Fuller to increase medical sales by five times. AMS is a producer of surgical adhesives and sealants, sutures, biosurgical solutions and woundcare products. AMS has grown both organically and through acquisitions and is in the process of integrating its recent Peters Surgical transaction. The projected $55 million synergies include approximately $35 million of cost synergies, including $14 million of in-flight synergies from Peters Surgical integration, reduction of overlapping back office functions, integration of key raw materials and adhesives and public company cost elimination. The remainder is driven by expected commercial synergies from adding a direct salesforce in Europe to drive sales of Fuller's existing solutions and increasing penetration of AMS products in the US. Fuller is currently in the middle of its own facility and warehouse integration process and the acquisition adds integration and execution risks. H.B. Fuller's ("Fuller") Ba2 corporate family rating reflects the company's moderate scale as measured by revenues, and solid profitability with EBITDA margin around 18% on a Moody's adjusted basis. The company's credit profile benefits from a broad product portfolio and exposure to diverse end markets. Approximately 55% of sales are tied to end markets that are more specialized but also cyclical in nature including electronics, automotive, solar, durable products, roofing, and others. The remaining revenue is derived from more stable, but also more competitive end markets such as consumables, hygiene, packaging, and healthcare. The company's management has been focusing on footprint optimization, cost-cutting initiatives and pricing actions to drive profitability expansion during the period of weaker volumes. Shortages of raw materials in the wake of the Middle East conflicts and higher costs allowed the company to raise prices and increase its earnings guidance for fiscal 2026. Despite the positive pricing sentiment, Fuller still faces volume pressure from a weakening macroeconomic outlook and sluggish end-market demand conditions, particularly in packaging and building adhesives. The company's credit profile benefits from low capital intensity as a formulator and a modest dividend that support the company's ability to generate free cash flow. Management has a stated goal of expanding EBITDA margins to over 20% in the next three to five years through a combination of strategic acquisitions and optimizing the company's operational footprint. The credit profile is constrained by the ongoing portfolio realignment, which carries execution, integration and financial risks. Once executed, the strategy will contribute to higher margins, but it carries high cash restructuring costs in the meantime. Fuller's relatively conservative net leverage target of 2.5x-3.0x and the company's commitment to returning to this level within two years of the transaction close are mitigating factors. H.B. Fuller Company's SGL-2 Speculative Grade Liquidity Rating reflects good liquidity supported by approximately $114 million in balance sheet cash at the end of May 2026. Moody's expects free cash flow (including capex and dividends) to be lower than normal in the next 12 months due to higher incremental capex spending associated with the operational optimization initiative. The company's secondary liquidity is provided by the $700 million senior secured revolving credit facility due 2028. The revolver has a maximum secured leverage covenant of 4.5x and a minimum interest coverage covenant of 2.0x. The headroom under covenants will decline somewhat post transaction but the credit agreement allows the leverage covenant to increase to 5.0x for four quarters after the acquisition closes and Moody's expects the company to remain in compliance. Fuller's term loan amortizes at 1.0% annually. The next maturities are $300 million of notes due in February 2027 and $300 million of notes due in 2028. Moody's expects the company to refinance the 2027 maturity as part of the acquisition financing. The stable outlook reflects expectations that credit metrics will return in line with the rating within two years of the transaction closing. The stable outlook also reflects expectations that the company will refinance the 2027 maturity in a timely manner and that free cash flow will improve in 2027 as capital expenditures decline. Finally, the stable outlook reflects expectations that the company will refrain from share repurchases and other large debt-financed acquisitions until metrics return to pre-AMS acquisition levels. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if adjusted leverage were to improve to below 3.0x and RCF/Debt were to rise above 20%, both on a sustained basis, and the company demonstrated its ability to sustain EBITDA margins in the high teen percentage range. Fuller's ratings could be downgraded if leverage is above 4.0x, or if free cash flow is diminished or turns negative on a sustained basis. The ratings could also be downgraded if the company undertakes additional meaningful debt-financed acquisitions and resumes share repurchases. H.B. Fuller Company ("Fuller", NYSE: FUL), headquartered in St. Paul, Minnesota, is a formulator, manufacturer and marketer of adhesives and sealants. It is predominantly focused on the engineering adhesives, durable assembly, construction, packaging, and hygiene subsegments of the adhesives market. Fuller generated revenues of nearly $3.5 billion for the twelve months ended May 2026. The principal methodology used in these ratings was Chemicals published in February 2026. HAMPTON DREAM: Trustee Seeks to Hire Prager Metis as Accountant --------------------------------------------------------------- Kenneth Silverman, the trustee appointed in the Chapter 11 case of Hampton Dream Properties, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Prager Metis CPAs, LLC as accountant. The firm's services include: (a) perform a forensic examination of the Debtor's books and records to determine if any preferential payments of fraudulent conveyances occurred; (b) analyze and investigate any insider transactions; (c) assist in the preparation of all tax returns, forms and reports required by various taxing authorities; and (d) perform all other necessary accounting services as the trustee or his counsel may deem necessary herein. The firm will be paid at these hourly rates: Partners/Principal $540 Manager/Supervisor $385 Staff Accountants $350 Corey Neubauer, CPA at Prager Metis CPAs, disclosed in a court filing that the firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Corey Neubauer, CPA Prager Metis CPAs, LLC 14 Penn Plaza, Suite 1800 New York, NY 10122 Telephone: (212) 643-0099 About Hampton Dream Properties LLC Hampton Dream Properties, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-72065) on May 24, 2026, listing $1,000,001 to $10 million in both assets and liabilities. Mark E. Cohen, Esq., at BFSNG Law Group, LLP serves as the Debtor's counsel. Kenneth Silverman is appointed as trustee in this Chapter 11 case. The trustee tapped Rimon PC as counsel and Prager Metis CPAs, LLC as accountant. HAMPTON DREAM: Trustee Seeks to Hire Rimon as Bankruptcy Counsel ---------------------------------------------------------------- Kenneth Silverman, the trustee appointed in the Chapter 11 case of Hampton Dream Properties, LLC, seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Rimon PC as counsel. The firm will render these services: (a) assist the trustee's investigation of the Debtor's books and records and related financial affairs; (b) assist with the trustee's investigations and the potential marketing and sale of estate assets; (c) prepare and confirm plan of reorganization and accompanying disclosure statement in the Debtor's Chapter 11 case; (d) assist in the pursuit and recovery of any assets of the Debtor's estate and/or causes of action on behalf of its estate; and (e) assist in the orderly administration of this estate. Brian Powers, Esq., an attorney at Rimon, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Brian Powers, Esq. Rimon PC 50 California Street, Suite 1500 San Francisco, CA 94111 Telephone: (415) 683-5472 About Hampton Dream Properties LLC Hampton Dream Properties, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-72065) on May 24, 2026, listing $1,000,001 to $10 million in both assets and liabilities. Mark E. Cohen, Esq., at BFSNG Law Group, LLP serves as the Debtor's counsel. Kenneth Silverman is appointed as trustee in this Chapter 11 case. The trustee tapped Rimon PC as counsel and Prager Metis CPAs, LLC as accountant. HARVEST REAL: Unsecured Creditors to be Paid in Full in 60 Months ----------------------------------------------------------------- Harvest Real Estate Management LLC filed with the U.S. Bankruptcy Court for the Central District of California a First Amended Disclosure Statement describing First Amended Chapter 11 Plan dated July 7, 2026. The Debtor is a Delaware limited liability company formed on May 5, 2021 for the sole purpose of owning commercial real property located at 16491 Scientific Way, Irvine, California 92618 (the "Property"). The Debtor's sole asset is this commercial property. Currently, the Property is vacant. Debtor is not currently collecting any rental income, it does not operate a business, nor does it generate any income by any means. The Debtor fell behind on mortgage payments with AFNB in or about October 2024. Debtor, by and through its managing and sole member, Zunfeng Zhao, reportedly set up automatic payments for the mortgage loan payments with AFNB. For an unexplained reason, the automatic payment arrangement was cancelled. As a result, scheduled mortgage payments were not made and the lender initiated foreclosure proceedings. Zhao tried to negotiate a resolution of the default, but the lender was unwilling to accept anything but the full reinstatement amount. Debtor was unable to come up with the necessary capital to fully reinstate the mortgage loan. The lender proceeded with its foreclosure proceedings by recording a Notice of Trustee Sale on or about October 13, 2025, which was postponed to December 9, 2025. The Debtor filed this Chapter 11 case to stop an imminent foreclosure, stabilize its financial position, and protect its commercial property during a temporary vacancy. Debtor's intent is to implement a reorganization strategy focused on securing a tenant (or multiple tenants if necessary to fill the entire space), generating rental income, and restructuring its debts to cure arrearages, and restore its obligations to good standing. The Debtor will fund its ongoing obligations and all payments required under the Plan through rental income generated by the Property, which is projected to be sufficient to meet this obligation. Class 3 consists of General Unsecured Claims: * 3-A Jing Li ($32,738.00). Creditor will be paid in full in sixty equal monthly payments without interest. * 3-B Internal Revenue Service ($500.00). Creditor will be paid in full in sixty equal monthly payments without interest. * 3-C Franchise Tax Board ($4,402.67). Creditor will be paid in full in sixty equal monthly payments without interest. The Debtor's member will retain her ownership interest in the Debtor. The Property is currently vacant. However, Debtor is actively engaging in negotiations with a potential commercial tenant who will occupy the entire rentable space for a set monthly rental amount, and will cover the utilities and maintenance costs throughout its occupancy. Thus, the Plan will be implemented through the following: * Cash on hand on the Effective Date, which Debtor expects will include rents that have accumulated from leasing the Property to a commercial tenant (or tenants if necessary to fill up the entire rentable space). * Expected ongoing rental income from leasing the Property. Debtor intends to continue operating the Property in this manner unless and until it decides to sell the Property. * The Debtor does not rule out refinancing the Property once stabilized tenancy is achieved, and more favorable rates become favorable. A full-text copy of the First Amended Disclosure Statement dated July 7, 2026 is available at https://urlcurt.com/u?l=7TWwhy from PacerMonitor.com at no charge. Counsel to the Debtor: Krystina T. Tran, Esq. LAW OFFICES OF KRYSTINA T TRAN 17011 Beach Blvd, Suite 900 Huntington Beach, CA 92647 Telephone: (949) 797-9090 Facsimile: (949) 393-4999 About Harvest Real Estate Management LLC Harvest Real Estate Management LLC, a single-asset real estate entity, owns and manages the property at 16491 Scientific Way in Irvine, California, which is appraised at about $2.5 million. Harvest Real Estate Management sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-13464) on Dec. 9, 2025. At the time of the filing, Debtor had estimated assets of between $1,000,001 to $10 million and liabilities of between $1,000,001 to $10 million. Judge Mark D. Houle oversees the case. The Law Offices of Krystina T Tran is the Debtor's legal counsel. HEALTHY EXTRACTS: Aaron Hefter Steps Down as Chief Brand Officer ---------------------------------------------------------------- Healthy Extracts Inc. announced in a regulatory filing that on July 7, 2026, Aaron Hefter resigned as its Chief Brand Officer. Accordingly, the position of Chief Brand Officer will remain vacant until further notice. About Healthy Extracts Headquartered in Henderson, Nev., Healthy Extracts Inc. -- www.healthyextractsinc.com -- is a platform for acquiring, developing, patenting, marketing, and distributing plant-based nutraceuticals. The Company's proprietary and patented products target select high-growth categories within the multibillion-dollar nutraceuticals market, such as heart, brain, and immune health. As of March 31, 2026, the Company had $27.32 million in total assets, $3.34 million in total current and total liabilities, and $23.98 million in total stockholders' equity. Las Vegas, Nevada-based Bush & Associates CPA LLC, the Company's auditor since 2024, issued a "going concern" qualification in its report dated April 8, 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 accumulated deficit that raise substantial doubt about its ability to continue as a going concern. HEARDMONT HEALTH: No Decline in Resident Care, 3rd PCO Report Says ------------------------------------------------------------------ Nancy Pitra, Esq., the duly appointed patient care ombudsman, filed with the U.S. Bankruptcy Court for the Middle District of Georgia her third report regarding the quality of patient care provided by Heardmont Health Properties, LLC. During the April 15 visit, the resident census was 49. The ombudsman representative for the Office of the State Long-Term Care Ombudsman (OSLTCO) visited with eight residents, the administrator, activities staff, and dietary staff. The ombudsman representative reported no care complaints and noted no decline in resident care since the last visit. Residents are comfortable raising concerns with the administrator. Staff appears stable, and the older building is clean, well-lit, and adequately supplied with food and essentials. The PCO is not aware of any significant change in facility conditions or decline in resident care for this nursing home since her appointment. A copy of the ombudsman report is available for free at https://urlcurt.com/u?l=VxBUWT from PacerMonitor.com. The ombudsman may be reached at: Nancy Pitra, Esq. State Long-Term Care Ombudsman Office of the State Long-Term Care Ombudsman Georgia Department of Human Services 2 Peachtree Street, N.W., 33rd Floor Atlanta, GA 30303 Email: Nancy.Pitra@osltco.ga.gov About Heardmont Health Properties Heardmont Health Properties, LLC manages Heardmont Health and Rehabilitation, a nursing facility in Elberton, Georgia, offering long-term care, rehabilitation, and assisted living services. Heardmont Health Properties sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Ga. Case No. 25-51641) on October 15, 2025. In its petition, the Debtor reported assets of up to $50,000 and liabilities of between $1 million and $10 million. Judge Austin E. Carter oversees the case. The Debtor is represented by Wesley J. Boyer, Esq., at Boyer Terry, LLC. Nancy Pitra, Esq., was appointed as patient care ombudsman in the Debtor's case. HEARDMONT HEALTH: No Decline in Resident Care, 4th PCO Report Says ------------------------------------------------------------------ Nancy Pitra, Esq., the duly appointed patient care ombudsman, filed with the U.S. Bankruptcy Court for the Middle District of Georgia her fourth report regarding the quality of patient care provided by Heardmont Health Properties, LLC. During the June 15 visit, the resident census was 46. The ombudsman representative for the Office of the State Long-Term Care Ombudsman (OSLTCO) visited with 19 residents, the administrator, activities staff, and dietary staff. The ombudsman representative observed during the visit that the building is older but clean and brightly lit. Moreover, the facility seems to have adequate food and supplies. The ombudsman representative reported no care complaints and noted no decline in resident care since the last visit. Staff appears stable and the residents feel comfortable addressing concerns with the administrator. The PCO is not aware of any significant change in facility conditions or decline in resident care for this nursing home since her appointment. A copy of the ombudsman report is available for free at https://urlcurt.com/u?l=e1gyOE from PacerMonitor.com. The ombudsman may be reached at: Nancy Pitra, Esq. State Long-Term Care Ombudsman Office of the State Long-Term Care Ombudsman Georgia Department of Human Services 2 Peachtree Street, N.W., 33rd Floor Atlanta, GA 30303 Email: Nancy.Pitra@osltco.ga.gov About Heardmont Health Properties Heardmont Health Properties, LLC manages Heardmont Health and Rehabilitation, a nursing facility in Elberton, Georgia, offering long-term care, rehabilitation, and assisted living services. Heardmont Health Properties sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Ga. Case No. 25-51641) on October 15, 2025. In its petition, the Debtor reported assets of up to $50,000 and liabilities of between $1 million and $10 million. Judge Austin E. Carter oversees the case. The Debtor is represented by Wesley J. Boyer, Esq., at Boyer Terry, LLC. Nancy Pitra, Esq., was appointed as patient care ombudsman in the Debtor's case. HIDALGO GROUP: Unsecureds Will Get 1% of Claim over 60 Months ------------------------------------------------------------- Hidalgo Group, LLC filed with the U.S. Bankruptcy Court for the Southern District of Florida a Plan of Reorganization for Small Business dated July 6, 2026. The Debtor is a limited liability company. Since 2011, the Debtor has been in the business of logistics. The Debtor is a warehousing, logistics and supply chain company. Its core services include transloading, domestic trucking, pick and-pack fulfillment, freight-forwarding and supply chain consulting. The managing member is Daktor Holguin. This Plan of Reorganization proposes to pay creditors of the Debtor from operations. The final Plan payment is expected to be paid within 60 months of confirmation. Non-priority unsecured creditors holding allowed claims will receive distributions, which the proponent of this Plan has valued at approximately .01 cents on the dollar. This Plan also provides for the payment of administrative and priority claims. Class 3 consists of Non-priority unsecured creditors. This class will receive of distribution of 1% on a pro rata basis for all proofs of claim filed. Monthly payments shall begin within 30 days upon confirmation for a period 60 months. This Class is impaired. Class 4 consists of Equity security holders of the Debtor. There will be no distribution for this class. Equity holders will retain their equity interests. The Plan will be funded from the operations of the Debtor. A full-text copy of the Plan of Reorganization dated July 6, 2026 is available at https://urlcurt.com/u?l=Irq8Gx from PacerMonitor.com at no charge. Counsel to the Debtor: Richard R. Robles, Esq. Law Offices of Richard R. Robles, P.A. 905 Brickell Bay Drive, Suite 228 Miami, FL 33131 Telephone: (305) 755-9200 E-mail: rrobles@roblespa.com assistant@roblespa.com About Hidalgo Group LLC Hidalgo Group, LLC, is a business entity engaged in general commercial operations, including investment and management services. Hidalgo Group, LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-14274) on April 6, 2026. In its petition, the Debtor estimated assets of $1 million to $10 million and estimated liabilities of $100,001 to $500,000. Judge Peter D. Russin oversees the case. The Debtor is represented by Jesus Santiago, Esq., at DASA Law. HILLMAN GROUP: Moody's Ups CFR to Ba3 & Alters Outlook to Stable ---------------------------------------------------------------- Moody's Ratings upgraded The Hillman Group Inc.'s (Hillman) Corporate Family Rating to Ba3 from B1 and Probability of Default Rating to Ba3-PD from B1-PD. At the same time, Moody's upgraded the rating on the company's existing senior secured first-lien term loan to Ba3 from B1 and assigned a Ba3 rating to the company's proposed $735 million senior secured first-lien term loan. Moody's have withdrawn the B1 rating on the company's senior secured first lien delayed draw term loan and downgraded the speculative-grade liquidity rating to SGL-2 from SGL-1. The rating outlook changed to stable from positive. The CFR upgrade to Ba3 reflects Hillman's improvement in operating earnings and credit metrics, supported by resilient revenue, improved profitability and debt reduction that is sustaining moderate leverage despite a challenging housing market, softer consumer spending and ongoing cost pressures. Moody's expects debt-to-EBITDA to remain around 3x over the next year. The proposed refinancing will replace the company's existing debt with a new $735 million first-lien term loan and a $375 million ABL revolving credit facility. The refinancing will extend the term loan maturity to 2033 from 2028 and the revolver expiration to 2031 from 2028. Moody's withdrew its rating on the company's $200 million delayed draw term loan because the facility is no longer outstanding. Moody's expects to withdraw the ratings on the existing term loans if the facilities are replaced in conjunction with the refinancing. Liquidity is expected to remain good as reflected in the SGL-2 speculative grade liquidity rating, which Moody's downgraded from SGL-1 due to modest projected free cash flow over the next year. Liquidity is supported by roughly $30 million of cash, positive free cash flow generation of $15-20 million, meaningful availability under the revolving credit facility and no near-term debt maturities. While free cash flow remains constrained by elevated capital spending, Moody's expects cash generation to improve as growth investments mature and capital expenditures normalize. Hillman's profitability and credit metrics have improved meaningfully over the last several years despite housing market pressures, softer consumer discretionary spending and tariff-related cost pressures. On a Moody's-adjusted basis, debt/EBITDA improved to approximately 3.0x as of the LTM ended March 2026, compared with 3.3x at year-end 2024 and 3.8x at year-end 2023. Moody's expects leverage to remain around 3.0x over the next 12-18 months, supported by resilient revenue, price increases to offset higher costs and solid earnings generation. While free cash flow has been constrained by elevated capital spending to support growth initiatives and working capital, Moody's expects annual free cash flow generation to improve to approximately $65 million in 2027 and $90-100 million in 2028 as these investments mature and capital expenditures and working capital needs moderate. The rating reflects Hillman's exposure to housing market cyclicality and discretionary consumer spending, high customer concentration and acquisition-related execution risks. These considerations are balanced by the company's demonstrated ability to maintain revenue growth, offset tariff and cost pressures through pricing actions, and improve credit metrics through a prolonged period of weak housing demand and softer repair-and-remodel activity, supported by moderate leverage and good liquidity. RATINGS RATIONALE Hillman's Ba3 CFR broadly reflects the good market position as a provider of products and services supporting the hardware and home improvement markets, relatively stable demand for its products because of their replenishment nature and low price points, which help mitigate exposure to cyclical downturns. The company has long-standing relationships with well-recognized retailers, good geographic diversification across the U.S. and Canada, and an expanding product offering through acquisitions and new business wins. Hillman benefits from product diversification provided by its Robotics and Digital Solutions segment, which includes high-margin key duplicating kiosks, tag engraving kiosks and knife sharpening machines. The company's EBITDA margin in the mid-teens supports good annual free cash flow generation, while moderate leverage of approximately 3.0x debt/EBITDA and good liquidity support the rating. Hillman has also demonstrated resilient operating performance through a prolonged period of housing market weakness, supporting the company's low leverage. Governance considerations include Hillman's financial policy that targets a net debt-to-EBITDA leverage ratio (company's calculation) at or below 2.5x, which supports moderate leverage and capital allocation discipline. The rating also reflects Hillman's exposure to housing market cyclicality and discretionary consumer spending. U.S. existing home sales remain below pre-pandemic levels and repair and remodel activity continues to face pressure from elevated mortgage rates and affordability concerns. However, Hillman has demonstrated resilient operating performance through the current housing downturn, supported by the nondiscretionary and replenishment-oriented nature of many of its products. Customer concentration, primarily with large home improvement retailers, and growth-related capital expenditures remain credit considerations that are constraining free cash flow generation. Nevertheless, Hillman's moderate leverage, expected improvement in free cash flow generation in 2027 and good liquidity provide flexibility to navigate periods of weaker demand and continue investing in the business. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The stable outlook reflects Moody's expectations that Hillman will maintain resilient revenue and generate positive free cash flow, supported by solid operating performance and good liquidity. The ratings could be upgraded if Hillman further strengthens its business profile through increased scale, product diversification and end-market diversification, resulting in reduced earnings volatility. An upgrade would also require sustained revenue growth with a stable to higher EBITDA margin, debt/EBITDA sustained below 3.0x, free cash flow to debt in a high teens range or above, at least good liquidity and financial policies that support the maintenance of these credit metrics. The ratings could be downgraded if Hillman's operating earnings decline due to factors such as lower industry volumes, market share losses, pricing pressure or cost increases. A downgrade could also occur due to debt-funded acquisitions or shareholder distributions, debt/EBITDA is sustained above 3.5x, free cash flow does not improve as expected or liquidity deteriorates. The Hillman Group Inc. headquartered in Cincinnati, OH, is a product and services provider in the hardware and home improvement industry. The company sells hardware including fasteners, rods, keys, tags and signs to retailers in the United States, Canada, Mexico, Latin America, and the Caribbean, and provides related services, including installing and maintaining key duplication and engraving machines. Hillman reported revenue of approximately $1.6 billion for the LTM ending March 2026. Hillman Solutions Corp. is the indirect parent of The Hillman Group Inc., and its shares are listed on the Nasdaq stock exchange under the ticker symbol "HLMN" following the July 2021 going public transaction. The principal methodology used in these ratings was Consumer Durables published in December 2025. HOMETOWN CHIROPRACTIC: Unsecureds to Split $93,600 over 36 Months ----------------------------------------------------------------- Hometown Chiropractic, LLC, filed with the U.S. Bankruptcy Court for the Middle District of Tennessee a Plan of Reorganization under Subchapter V dated July 6, 2026. The Debtor is an overall wellness center that provides chiropractic adjustments, different styles of massage therapy, and supplements. The Debtor's management team consists of Dr. Anne Peters, Managing Member; Dr. Joshua Martin, Member. As of the Petition Date, Debtor had seven full-time employees. In June 2020, Debtor signed a promissory note with Tactic Franchising, LLC for $300,000.00 to operate as a 100% Chiropractic Franchise. Tactic made changes in 2024 mandating a price increase and Debtor was forced to implement systems that did not work, causing Debtor to lose clients and payments, beginning in February 2024. With the changes forced by Tactic, Debtor realized that the accounts were struggling and began taking out short-term loans from Merchant Cash Advance lenders ("MCAs") to cover payroll and operating expenses in 2025. Although Peters thought the MCA loans would help with cashflow issues, they made the situation worse due to the substantial weekly auto-debit payments from the Debtor's account. In July 2025, Tactic terminated the franchise agreement due to lack of payment, and filed an arbitration action seeking declaratory judgment against Debtor, ultimately causing the Debtor to seek bankruptcy relief. Class No. 3 shall consist of the allowed unsecured claims not entitled to priority and not expressly included in the definition of any other class. The Plan provides a pool of $93,600.00 to be paid pro-rata to the claimholders in this class. There shall be 36 payments (for a total disbursement of $93,600.00) paid prorata to the claimholders in this class as follows: 36 monthly installments shall be made in the amount of $2,600.00. The allowed unsecured claims total $563,559.46. The first monthly installment payment will be due on the 15th day of the first month following the Effective Date and subsequent payments will be due on the 15th day of each month thereafter. The Debtor shall use proceeds from Business operations to pay all required payments on the Effective Date and all payments due under the Plan on an on-going basis. A full-text copy of the Plan of Reorganization dated July 6, 2026 is available at https://urlcurt.com/u?l=vsAfAQ from PacerMonitor.com at no charge. Counsel to the Debtor: Michelle L. Spezia, Esq. Jennifer L. Johnson, Esq. JOHNSON & SPEZIA, PLLC 302 42nd Avenue North Nashville, TN 37209 Telephone: (615) 386-0075 Facsimile: (615) 864-8419 E-mail: ecfmail@tennessee-bankruptcy.com About Hometown Chiropractic LLC Hometown Chiropractic, LLC is an overall wellness center that provides chiropractic adjustments, different styles of massage therapy, and supplements. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Tenn. Case No. 26-01799) on April 17, 2026. In the petition signed by Anne Peters, manager, the Debtor disclosed up to $50,000 in assets and up to $1 million in liabilities. Judge Charles M. Walker oversees the case. Michelle L. Spezia, at Johnson & Spezia, PLLC, is serving as legal counsel to the Debtor. Michael Abelow, at Sherrard Roe Voigt & Harbison, PLC, was named as Subchapter V trustee for the Debtor. HUMACYTE INC: Fresenius Holds 6.8% Stake, Adopts 10b5-1 Sale Plan ----------------------------------------------------------------- Fresenius Medical Care Holdings, Inc. and Fresenius Medical Care AG disclosed in a Schedule 13D (Amendment No. 10) filed with the U.S. Securities and Exchange Commission that as of July 10, 2026, they each beneficially own 18,312,735 shares of Common Stock -- all with shared voting and shared dispositive power -- of Humacyte, Inc.'s Common Stock, par value $0.0001 per share, representing 6.8% of the class; noting that on July 10, 2026, Fresenius Medical Care Holdings, Inc. established a Rule 10b5-1 trading plan with Citigroup Global Markets Inc. pursuant to which Citigroup Global Markets Inc. has agreed to use its reasonable best efforts to sell 5,000,000 shares of Common Stock during the plan sales period commencing upon expiration of the 30-day cooling-off period and ending on October 31, 2026, with the sale of all shares covered by the plan expected to reduce Fresenius Medical Care Holdings, Inc.'s and Fresenius Medical Care AG's beneficial ownership below 5% of the Issuer's Common Stock. Fresenius Medical Care Holdings, Inc. may be reached through: Thomas D. Brouillard Fresenius Medical Care Holdings, Inc., 920 Winter Street Waltham, MA 02451-1547 Tel: (781) 699-9000 A full-text copy of Fresenius Medical Care Holdings' SEC report is available at: https://tinyurl.com/2ruc4vw7 About Humacyte Inc. Humacyte, Inc. and subsidiaries is pioneering the development and manufacture of off-the-shelf, universally implantable, bioengineered human tissues, advanced tissue constructs and organ systems with the goal of improving the lives of patients and transforming the practice of medicine. The Company is leveraging its regenerative medicine technology platform to develop proprietary product candidates for use in the treatment of diseases and conditions across a range of anatomic locations in multiple therapeutic areas. Raleigh, North Carolina-based PricewaterhouseCoopers LLP, the Company's auditor since 2013, issued a "going concern" qualification in its report dated March 27, 2026, attached to the Company's Annual Report for the fiscal year ended December 31, 2025, citing the Company has incurred operating losses and negative cash flows from operations since inception that raise substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $110.56 million in total assets, $98.93 million in total liabilities, and $11.62 million in total stockholders' equity. HUNT MEMORIAL: Moody's Assigns Caa1 Issuer Rating, Outlook Stable ----------------------------------------------------------------- Moody's Ratings has assigned a Caa1 issuer rating to Hunt Memorial Hospital District, TX and upgraded the district's general obligation limited tax (GOLT) bond rating to Ba2 from Ba3. This action concludes the review for possible upgrade that was initiated on May 28, 2026 and reflects the application of the updated Not-for-profit Healthcare methodology. The outlook is stable. The district has approximately $135.8 million in outstanding debt. RATINGS RATIONALE The Caa1 issuer rating reflects the district's very weak credit profile, characterized by persistently negative operating performance, extremely thin liquidity, and elevated leverage. Ongoing expense pressures and revenue cycle challenges have driven multiple years of operating losses, including three consecutive years of negative EBIDA margins, leaving the district in a highly constrained financial position leading to a weak financial policy and strategy. Hunt's brand and strategic positioning is somewhat weak, reflecting its local geographic reach within Hunt County, small scale, compounded by strategic retrenchment following the closure of two freestanding emergency departments due to operating losses. Liquidity will remain critically low, with approximately 10 days cash on hand, providing minimal capacity to absorb operating volatility or reimbursement delays and limiting financial flexibility. Leverage is elevated, with cash to adjusted debt of 6.5% and adjusted debt to cash flow of approximately 10.4x, further constraining balance sheet capacity and heightening refinancing risk. Reliance on a $15 million line of credit to fund working capital, combined with a history of covenant violations and continued dependence on waivers, creates significant near-term refinancing risk ahead of the February 2027 maturity. While about 42% of the district's debt benefits from voter-approved property tax support, fixed obligations remain high relative to available resources and do not offset pressures from weak core operations. The Ba2 rating on the GOLT debt reflects the district's dedicated tax levy with substantial headroom as well as a strong and growing economic base. The GOLT bonds also benefit from physical and legal separation, an important security feature providing additional credit strength to the instrument relative to the issuer rating. This separation is achieved through the security provided through state statute and a lockbox structure established in conjunction with the most recent issuance by which taxes levied for debt service are sent by the collector to a trust account dedicated for debt repayment. This structure provides physical separation as it prevents the commingling of pledged funds with revenues available for operations. The rating also incorporates court validation of the security provided in statute and historical performance of similar instruments within the state which have demonstrated timely debt service payment even during periods of financial stress. RATING OUTLOOK The stable outlook reflects Moody's views that, despite a persistently challenged financial position, the district will maintain sufficient tax levy capacity and revenue to meet rated debt service obligations. FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS -- Sustained trend of increased unrestricted liquidity and stronger days cash while successfully executing ongoing expansion capital plan -- Maintenance of positive EBIDA margin FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS -- Failure to pay bonds or notes on time, debt service default, and/or plans for bankruptcy proceedings -- Ongoing operating losses that continue to erode an already constrained liquidity position -- Significant reduction in supplemental funding or tax revenue PROFILE Hunt Memorial Hospital District (HMHD) is a multisite hospital district conterminous with Hunt County, located approximately 50 miles northeast of Dallas. HMHD operates the Hunt Regional Medical Center (HRMC), a 187 licensed bed acute care hospital in the City of Greenville. HMHD also includes an employed physician group and provides inpatient, outpatient, occupational, as well as emergency services for residents of the county and surrounding areas. As of 2025, Hunt County's estimated population was over 105,000. METHODOLOGY The principal methodology used in these ratings was Not-for-profit Healthcare published in May 2026. HYDROFARM HOLDINGS: Receives Nasdaq Delisting Determination ----------------------------------------------------------- Hydrofarm Holdings Group, Inc. announced in a regulatory filing that it received a determination letter from Nasdaq notifying the Company that it did not meet the terms of the extension previously granted by Nasdaq to regain compliance with the $2.5 million minimum stockholders' equity requirement for continued listing on The Nasdaq Capital Market under Listing Rule 5550(b)(1). The Nasdaq Determination Letter stated that the Company may request an appeal of this determination at a hearing before the Nasdaq Hearing Panel by July 9, 2026. On July 9, 2026, the Company timely requested a hearing before the Panel, which stayed any further action by Nasdaq at least pending completion of the hearing process and the expiration of any extension period that may be granted by the Panel. The Company is considering all options available to it to regain compliance with the Equity Rule. However, there can be no assurance that the Company will be able to regain compliance with the Equity Rule or will otherwise be in compliance with other applicable Nasdaq Listing Rules, that the Panel will grant the Company an additional extension period to remain listed on Nasdaq, or that the Panel will be successful. On July 6, 2026, the Company also received a letter from the Listing Qualifications Department of Nasdaq indicating that the Company was not in compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market under Listing Rule 5550(a)(2), because the Company had not maintained a minimum closing bid price of $1 per share for the prior 30 consecutive business days. The Bid Price Rule provides the Company a compliance period of 180 calendar days in which to regain compliance. If at any time during the 180-day period the closing bid price of the Company's common stock is at least $1 for a minimum of ten consecutive business days, Nasdaq will provide written confirmation to the Company of compliance. In the event that the Company does not regain compliance with the Bid Price Rule, the Company may be eligible for additional time. The Company intends to monitor the closing bid price of its common stock and is considering its options to regain compliance with the Bid Price Rule. Background On April 1, 2026, the Company received a letter from the Listing Qualifications Department of Nasdaq indicating that the Company was not in compliance with the Equity Rule. On May 18, 2026, the Company submitted a compliance plan to Nasdaq, with related materials submitted on June 8, 2026. On June 16, 2026, the Company received a letter from Nasdaq granting an extension to regain compliance with the Equity Rule based on its review of the Company's plan and related materials. About Hydrofarm Holdings Hydrofarm Holdings Group, Inc. is an independent manufacturer and distributor of branded hydroponics equipment and supplies for controlled environment agriculture, including grow lights, climate control solutions, grow media and nutrients, as well as a broad portfolio of innovative, proprietary branded products. Products offered include agricultural lighting devices, indoor climate control equipment, nutrients, and plant additives used to grow, farm and cultivate cannabis, flowers, fruits, plants, vegetables, grains and herbs in controlled environment settings that allow end users to control key farming variables including temperature, humidity, CO2, light intensity and color, nutrient concentration and pH. As of March 31, 2026, the Company had $117.76 million in total assets, $195.89 million in total liabilities, and $73.13 million in total stockholders' deficit. Minneapolis, Minnesota-based Deloitte & Touche 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 for the fiscal year ended December 31, 2025, citing the Company has incurred recurring operating losses, negative cash flows from operations, and has significant debt obligations due within the next 12 months, which raises substantial doubt about its ability to continue as a going concern. HYE NURSES: No Patient Care Concern, 1st PCO Report Says -------------------------------------------------------- Stanley Otake, the patient care ombudsman, filed with the U.S. Bankruptcy Court for the Central District of California his first interim report regarding the quality of patient care provided by Hye Nurses Home Health, Inc. In the report which covers the period May 12 to July 8, the PCO noted all regulatory licenses were current, staff credentials were in proper order and policies and procedures were updated and current. The PCO was being informed by Hye Nurses Home Health that there are no issues getting supplies to patients for home health treatments and medical services. All patient medical records were properly organized and there were no immediate HIPAA concerns. Mr. Otake finds that the care provided to the patients was within the standard of care in the community, and the plans, steps taken and ongoing efforts to secure records are also within the standard. Staff are properly trained, credentialed and licensed to provide Home Health services to patients safely. A copy of the ombudsman report is available for free at https://urlcurt.com/u?l=azl9il from PacerMonitor.com. The ombudsman may be reached at: Stanley Otake 225 N. Deerwood Street Orange, CA 92869 Cell: 562-225-1934 Residence: 714-289-1545 ucla1000@aol.com About Hye Nurses Home Health Inc. Hye Nurses Home Health, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No. 26-10955) on May 4, 2026, with up to $50,000 in assets and $500,001 to $1 million in liabilities. Judge Martin R. Barash presides over the case. Cyrus Zal, Esq., represents the Debtor as legal counsel. Stanley Otake is the patient care ombudsman appointed in the case. ICEBOX HOLDCO III: Moody's Affirms 'B3' CFR, Outlook Stable ----------------------------------------------------------- Moody's Ratings affirmed Icebox Holdco III, Inc.'s (DiversiTech) B3 corporate family rating and B3-PD probability of default rating. At the same time Moody's affirmed the B2 rating assigned to its senior secured first lien bank credit facility, including the $160 million senior secured first lien revolving credit facility (due December 2030) and the $1.2 billion senior secured first lien term loan (due December 2031), as well as the Caa2 rating assigned to the $240 million senior secured second lien term loan (due December 2032). The outlook is stable. On July 10, 2026, DiversiTech announced plans to finance a $218 million acquisition which will be funded by, (i) a $120 million fungible add-on to its existing first lien term loan, and (ii) a $100 million draw on its revolving credit facility. This announcement follows the company's May 2026 $116 million acquisition of Polymer Adhesives, which was also funded through a $120 million fungible add-on to its existing first lien term loan. As a result, the outstanding amount on the first lien term loan due December 2031 increases to roughly $1.29 billion from about $1.05 billion (period ended December 2025), and debt/EBITDA (including Moody's standard adjustments) increases to about 7.0x from 6.3x as of the period ended December 2025. The affirmation of the ratings with a stable outlook reflects steady demand within the residential and light commercial HVAC and refrigeration industry, stable margins, Moody's expectations of no further debt funded M&A transactions through year-end 2026, and Moody's expectations that the company's free cash flow generation will improve over the next 12-18 months as capital spend normalizes in 2027. On a pro-forma basis, Moody's expects debt/EBITDA to improve to 6.6x by year-end 2027. RATINGS RATIONALE DiversiTech's B3 CFR reflects high leverage, small scale relative to peers in a fragmented market, and an aggressive financial policy that includes a growth through debt-funded acquisition strategy. Leverage of 7x debt/EBITDA pro-forma of the acquisitions leaves little room for any operating underperformance or further debt-funded acquisitions. Moody's credit view also reflects the company's solid market position and the predictability of around 85% of the company's revenue stream driven by the non-discretionary spend characteristic of the repair and replace market for HVAC equipment. The large and growing installed base of HVAC units in the US also provides support to the repair and replacement market. Longer term demand is supported by consumer behavior trends toward home improvement investment. Moody's expects DiversiTech will maintain good liquidity over the next 12-15 months. The company's liquidity is supported by roughly $73 million of cash on hand as of December 2025, and $60 million of availability on the company's revolving credit facility due December 2030. Moody's expects that the company will generate about $27 million and $90 million in free cash flow during 2026 and 2027, respectively. The stable rating outlook reflects Moody's expectations of leverage trending below 7x and modest positive free cash flow generation. The B2 rating on the first lien debt is one notch above the B3 CFR, reflecting the benefit of support provided by the second lien term loan. The second lien term loan is rated Caa2, reflecting Moody's expectations that second lien creditors would absorb losses before the first lien secured debt in a distressed scenario. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The rating could be upgraded if debt/EBITDA is sustained below 6.0x, EBITA to interest is sustained above 2.0x, good liquidity is maintained, and the company adopts a more conservative financial policy. The rating could be downgraded if debt/EBITDA is sustained above 7.0x, EBITA to interest is sustained below 1.0x, or liquidity deteriorates. The principal methodology used in these ratings was Manufacturing published in September 2025. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. Icebox Holdco III, Inc. (doing business as DiversiTech Holdings, Inc.), established in 1971, is headquartered in Duluth, Georgia, and is a manufacturer and distributor of engineered components for predominantly residential and some light commercial HVAC and refrigeration. With operations across the US, Canada, Europe, and the UK, the company provides over 300,000 active SKUs to more than 8,000 customers through a wholesale distribution channel. The company reported $884 million of revenues for the 12 month period ended December 2025. Since 2021, the company has been majority-owned by the private equity sponsor Partners Group. The former majority owner, Permira, owns about 18% of DiversiTech. INOTIV INC: Gets Court OK for Chapter 11 Plan, Disclosure Statement ------------------------------------------------------------------- Emlyn Cameron of Law360 Bankruptcy Authority reports that a Texas bankruptcy judge on Tuesday, July 14, 2026, approved Inotiv Inc.'s Chapter 11 disclosure statement on a final basis and authorized the life sciences company to implement its restructuring plan. The approval represents another key step toward the company's emergence from bankruptcy protection. The company entered Chapter 11 to address its financial obligations while continuing its research and development operations. Its disclosure statement details the proposed reorganization, creditor recoveries and the framework for restructuring the company's balance sheet under bankruptcy court oversight, the report states. Following the court's ruling, Inotiv is authorized to move ahead with the implementation of its Chapter 11 plan. The company will continue working through the remaining steps necessary to complete the restructuring and conclude the bankruptcy proceedings, according to report. About Inotiv, Inc Inotiv, Inc. is a contract research organization dedicated to providing nonclinical and analytical drug discovery and development services primarily to the pharmaceutical and medical device industries and selling a range of research-quality animals and diets to the same industries as well as academia and government clients. The Company's products and services focus on bringing new drugs and medical devices through the discovery and preclinical phases of development and, in certain cases, the clinical phases of development, all while focusing on increasing efficiency, improving data, and reducing the cost of discovering and taking new drugs and medical devices to market. Indianapolis, Ind.-based Ernst & Young LLP, the Company's auditor since 2021, expressed substantial doubt regarding the Company's ability to continue as a going concern. In its "going concern" qualification dated December 5, 2025, included in the Company's Annual Report on Form 10-K for the year ended September 30, 2025, Ernst & Young reported that the Company has negative operating cash flows, operating losses and net losses, is forecasting non-compliance with certain covenants under its loan agreements, and has significant debt obligations due within the next 12 months. West Lafayette, Ind.-based Inotiv, Inc. and several affiliates filed for Chapter 11 bankruptcy (Bankr. S.D. Texas Lead Case No. 26-bk-90601) on June 3, 2026. The Hon. Christopher M Lopez presides over the case. In their petitions, the Debtors listed estimated assets and liabilities of $500 million to $1 billion. As of Dec. 31, 2025, Inotiv reported $734.3 million in total assets, $625.3 million in total liabilities, and $109 million in total equity. The Debtors hired Ropes & Gray LLP as general bankruptcy counsel; Hunton Andrews Kurth LLP, as co-bankruptcy counsel; Perella Weinberg Partners, as investment banker; FTI Consulting, Inc., as financial advisor; and Kroll Restructuring Administration LLC, as notice, claims, solicitation and balloting agent. Acquiom Agency Services LLC, serves as the administrative agent and collateral agent for a syndicate of lenders providing DIP financing. Davis Polk & Wardwell LLP and Haynes and Boone, LLP represent the First Lien Ad Hoc Group. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Cole Schotz, P.C. represent the Ad Hoc Noteholder Group of the Prepetition PIK Notes and Prepetition Convertible Notes. INSPIRED HEALTHCARE: Whitaker Chalk Represents Investors -------------------------------------------------------- In the Chapter 11 bankruptcy cases of Inspired Healthcare Capital Holdings, LLC and its debtor-affiliates, Whitaker Chalk Swindle & Schwartz, PLLC filed with the United States Bankruptcy Court for the Northern District of Texas, Forth Worth Division, a Verified Statement pursuant to Bankruptcy Rule 2019 to inform the Court that the firm represents the Claimants. According to the Verified Statement: 1. Whitaker Chalk represents one DST Investor in the Debtors' jointly administered bankruptcy cases. Barbara Furlong, owner of Rumblewood Holdings, LLC, has engaged Whitaker Chalk to file a proof of claim on behalf of Rumblewood. Rumblewood is not a party to any of the Claimants' FINRA arbitration proceedings, but it intends to file one or more proofs of claim in the Debtors' jointly administered bankruptcy cases. 2. Whitaker Chalk was engaged by the law firm of Goodman & Nekvasil, P.A. on June 26, 2026, to represent the Claimants in this Adversary Proceeding. Pursuant to Bankruptcy Rule 2019(c)(4), the provisions of the engagement agreement reflecting Whitaker Chalk's authority to represent the Claimants is listed on a 7-page Exhibit A, a copy of which is available at https://www.pacermonitor.com/view/LSWK2OY/Inspired_Healthcare_Capital_Holdings__txnbke-26-90004__1083.1.pdf?mcid=tGE4TAMA. 3. Each of the Claimants invested in one or more securities issued by the Debtors. The Claimants did not purchase the securities directly from the Debtors. Instead, they purchased the securities through independent securities brokers. The securities proved high-risk, as evidenced by the Debtors' bankruptcy filings. The Claimants subsequently asserted FINRA arbitration claims against their brokers for improperly advising them to purchase high-risk securities, when such high-risk investments were not appropriate for them. The claims against the brokers remain unliquidated. The Claimants have not asserted any claims against the Debtors in their FINRA arbitration proceedings. 4. Nothing in this Verified Statement is intended to, or should be construed to, waive any of the Claimants' rights to have a final order liquidating their claims entered by a FINRA arbitration panel, a State Court of competent jurisdiction, or an Article III Court. The Claimants do not consent to the entry of a final order by the Bankruptcy Court or to any plan process or administrative procedure that deprives them of their right to a FINRA arbitration against their respective brokers. 5. Whitaker Chalk and the Claimants reserve the right to amend or supplement this Verified Statement as necessary, for any reason, in accordance with Bankruptcy Rule 2019. The Claimants maybe reached at: A. Brett W. Henricks and Elizabeth A. Sharp-Henricks, individually and as Members of Henricks Investments, LLC Goodman & Nekvasil, P.A. c/o Brett Hendricks 624 1st Ave. S. St. Petersburg, FL 33701 B. David Walser and Barbara Greenfield Goodman & Nekvasil, P.A. c/o David Walser 624 1st Ave. S. St. Petersburg, FL 33701 C. James Sean Hillier, individually and as manager of East County Home Solutions Goodman & Nekvasil, P.A. c/o James Hillier 624 1st Ave. S. St. Petersburg, FL 33701 D. Katherine M. Higgins, individually and as manager of Unbridled Holdings, LLC Goodman & Nekvasil, P.A. c/o Katherine M. Higgins 624 1st Ave. S. St. Petersburg, FL 33701 E. Michael Barbarick, individually and on behalf of 3030 West Second Street, Inc. Goodman & Nekvasil, P.A. c/o Michael Barbarick 624 1st Ave. S. St. Petersburg, FL 33701 F. David Lowenstern, individually and as manager of Valley Gardens, LLC Goodman & Nekvasil, P.A. c/o David Lowenstern 624 1st Ave. S. St. Petersburg, FL 33701 G. Matthew T. O’Reilly and Wenceslaus Achramowicz, individually and as trustee of the Wenceslaus Achramowicz Trust Dated April 5, 2010 Goodman & Nekvasil, P.A. c/o Matthew O’Reilly 624 1st Ave. S. St. Petersburg, FL 33701 H. Douglas C. Baker and Irena M. Baker, individually and on behalf of Velebit Properties, LLC Goodman & Nekvasil, P.A. c/o Douglas Baker 624 1st Ave. S. St. Petersburg, FL 33701 I. Milosh D. Milenkovich and Jelisaveta Milenkovich Goodman & Nekvasil, P.A. c/o Milosh Milenkovich 624 1st Ave. S. St. Petersburg, FL 33701 J. Jeffery North Goodman & Nekvasil, P.A. c/o Jeffery North 624 1st Ave. S. St. Petersburg, FL 33701 The Claimants' counsel may be reached at: Robert A. Simon, Esq. John T. Behan, Esq. WHITAKER CHALK SWINDLE & SCHWARTZ, PLLC 301 Commerce Street, Suite 3500 Fort Worth, TX 76102 Tel: (817) 878-0543 Fax: (817) 878-0501 E-mail: rimon@whitakerchalk.com About Inspired Healthcare Capital Holdings, LLC Inspired Healthcare Capital Holdings, LLC, owns senior living communities across the U.S. that provide independent living, assisted living, and memory care services. It operates in the senior housing and healthcare real estate sector, with day-to-day community operations managed by third-party operators under management agreements, while the Company retains control over non-community business functions. Inspired Healthcare Capital Holdings sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Lead Case No. 26-90004) on Feb. 2, 2026. In the petition signed by M. Benjamin Jones, chief restructuring officer, Inspired Healthcare Capital Holdings reported between $1 billion and $10 billion in both assets and liabilities. Judge Mark X. Mullin oversees the cases. The Debtors tapped McDermott Will & Schulte, LLP as bankruptcy counsel; Ankura Consulting Group, LLC as financial advisor; Raymond James & Associates, Inc. as investment banker; and Epiq Corporate Restructuring, LLC as claims, noticing, and solicitation agent. The Debtors hired DLA Piper LLP (US) as conflicts counsel and Reid Collins & Tsai LLP as special litigation counsel. BDO USA, P.C. serves as tax accountant. The official committee of unsecured creditors appointed hired Berkeley Research Group, LLC as financial advisor; Greenberg Traurig, LLP as attorney; and Vartabedian Katz Hester & Haynes LLP as its conflicts counsel. Ferguson Braswell Fraser Kubasta PC represents the Ad Hoc Committee of DST Investors. Jones Walker, LLP represents the Ad Hoc Group of Lenders in Inspired Healthcare Capital Income Fund 5. Holland & Knight, LLP represents the Ad Hoc Group of Unencumbered DST Investors. The U.S. Trustee for Region 6 appointed Mairead Painter as patient care ombudsman at Connecticut senior living facility; Timothy Hunter as patient care ombudsman at Minnesota senior living facility; Terri Cantrell as patient care ombudsman at Florida senior living facilities; Salli Pung as patient care ombudsman at the Michigan senior living facilities; Amanda Celentano as patient care ombudsman at Maryland senior living facility; Kelly Richards as patient care ombudsman at Illinois senior living facilities; Marie Coe as patient care ombudsman at Nevada senior living facilities; and Melanie McNeil as patient care ombudsman at Georgia senior living facilities. Susan Goodman of Pivot Health Law, LLC and Laurie Facciarossa Brewer were also named as patient care ombudsman. INTRUSION INC: Tego Cyber Holds 10.4% Equity Stake -------------------------------------------------- Tego Cyber, Inc., disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of June 29, 2026, it beneficially owns 2,373,134 shares of Intrusion Inc's Common Stock, par value $0.01 per share, representing 10.4% (precisely 10.43%) of the shares outstanding. Tego Cyber, Inc. may be reached through: Robert Mikkelsen (Director) 8565 S Eastern Ave Ste 150 Las Vegas, NV 89123 Tel: 855-939-0100 A full-text copy of Tego Cyber, Inc.'s SEC report is available at https://tinyurl.com/ycy77zcp About Intrusion Intrusion Inc. is a cybersecurity company based in Plano, Texas, specializing in advanced threat intelligence. At the core of its capabilities is TraceCop, a proprietary database that catalogs the historical behavior, associations, and reputational risk of IPv4 and IPv6 addresses, domain names, and hostnames. Built on years of gathering global internet intelligence and supporting government entities, this data forms the backbone of Intrusion's commercial solutions. As of December 31, 2025, the Company had $10.4 million in total assets, $1.8 million in total current liabilities, $1.3 million in total noncurrent liabilities, and $7.3 million in total stockholders' equity. Dallas, Texas-based Whitley Penn LLP, the Company's auditor since 2009, issued a "going concern" qualification in its report dated March 25, 2026, attached to the Company's Annual Report for the fiscal year ended December 31, 2025, citing that the Company has suffered recurring losses from operations, has negative cash flows from operations, and has a reliance on equity and debt financing. These factors raise substantial doubt about the Company's ability to continue as a going concern. JELD-WEN HOLDING: BlackRock Reports 2.7% Equity Stake ----------------------------------------------------- BlackRock, Inc., disclosed in a Schedule 13G (Amendment No. 3) filed with the U.S. Securities and Exchange Commission that as of June 30, 2026, it beneficially owns 2,290,077 shares of JELD-WEN Holding Inc's Common Stock, representing 2.7% of the shares outstanding. This filing reflects securities beneficially owned, or deemed to be beneficially owned, by certain business units of BlackRock, Inc. and its subsidiaries and affiliates, in accordance with SEC Release No. 34-39538. It does not include securities beneficially owned by other business units whose ownership is disaggregated. Various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the common stock. No one person's interest is more than five percent of the total outstanding common shares. BlackRock, Inc. may be reached through: Spencer Fleming 50 Hudson Yards New York, NY 10001 Tel: (212) 810-5800 A full-text copy of BlackRock, Inc.'s SEC report is available at https://tinyurl.com/2cn85kve About JELD-WEN Holding, Inc. ELD-WEN Holding, Inc., along with its subsidiaries, is a vertically integrated global manufacturer and distributor of windows, doors, and other building products that derives substantially all its revenues from the sale of its door and window products. As of March 28, 2026, the Company had $2.08 billion in total assets, $2.07 billion in total liabilities, and $12.18 million in total stockholders' equity. * * * In May 2026, S&P Global Ratings lowered its issuer credit rating on JELD-WEN Holding Inc. to 'CCC+' from 'B-', its issue-level rating on its senior secured debt to 'B' from 'B+', and its issue-level rating on its senior unsecured debt to 'CCC' from 'CCC+'. The negative outlook reflects S&P's expectation that the company's S&P Global Ratings-adjusted debt to EBITDA will remain above 10x through 2026 as subdued demand for new construction and R&R activity continues to impair its credit metrics and refinancing risk increases as the company's December 2027 notes approach current status. JOHN FITZGIBBON: PCO Reports No Change in Patient Care Quality -------------------------------------------------------------- Scott Pummell, Esq., the patient care ombudsman, filed with the U.S. Bankruptcy Court for the Western District of Missouri his initial report regarding the quality of patient care provided by John Fitzgibbon Memorial Hospital, Inc. and Fitzgibbon Health Services. John Fitzgibbon Memorial Hospital is a 60-bed, acute care facility located in Marshall, Missouri. The Hospital's departments include surgery, obstetrics, outpatient and emergency services, imaging, pharmacy, dietary with a public cafeteria, physical therapy, respiratory therapy, lab services, and a cancer center. Fitzgibbon Health Services, doing business as The Living Center, is a Medicare- and Medicaid-certified skilled nursing facility licensed for 99 beds. TLC provides long-term care, skilled care, memory care, and respite care. TLC has 99 licensed beds. It currently staffs 70 beds. The PCO has conducted interviews with leadership of the Hospital and TLC. The initial interviews included Angy Littrell, who is the Hospital's President and Chief Executive Officer. Ms. Littrell confirmed that the Hospital does not plan any further service line reductions. Further, Ms. Littrell, says she is confident that care has not been compromised. Mr. Pummell conducted a separate interview with Angela Igo, the Chief Nursing Officer of the Hospital who also assists with TLC care. Ms. Igo said nurse and care team staffing has been stable. The turnover rate has not increased materially since Debtor's bankruptcy filing, and she said has not noticed any material detrimental effects on recruitment for nursing or other staff. Consequently, nurse staffing has not materially changed. The PCO concluded that after careful review, it appears that no significant issues were identified during this initial reporting period regarding the quality of care provided by Debtor. A copy of the ombudsman report is available for free at https://urlcurt.com/u?l=WVpMON from PacerMonitor.com. The ombudsman may be reached at: Scott A. Pummell, Esq. Lashly & Baer, P.C. 714 Locust Street St. Louis, Missouri 63101 (314) 436-8369 Email: spummell@lashlybaer.com About John Fitzgibbon Memorial Hospital Inc. John Fitzgibbon Memorial Hospital, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Mo. Case No. 26-40689) on April 21, 2026. In the petition signed by Angela P. Littrell, president and chief executive officer, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Cynthia A. Norton oversees the case. Zachary R.G. Fairlie, Esq., at Spencer Fane, represents the Debtor as legal counsel. Scott A. Pummell, Esq., is the patient care ombudsman appointed in the case. JUUL LABS: Co, Pritzker Face Court's Second Bailout Challenge ------------------------------------------------------------- Jennifer Kay of Bloomberg Law reports that a Delaware court has allowed a new lawsuit challenging Juul Labs Inc.'s rescue financing to proceed, requiring the vaping company and investor Nick Pritzker to continue defending allegations tied to the restructuring deal that prevented a bankruptcy filing. The complaint alleges that Juul insiders and board members improperly benefited from a financing transaction that converted about $1.9 billion of company debt into equity. Investors have accused those involved of breaching fiduciary duties and engaging in conduct that unfairly affected other stakeholders. The ruling comes after an earlier challenge to the same bailout arrangement was settled in 2024. Delaware Vice Chancellor Nathan A. Cook determined that the newer claims involving breach of fiduciary duty, aiding and abetting and unjust enrichment could proceed despite the prior settlement, the report states. The latest litigation highlights continued scrutiny of Juul's financial restructuring efforts as the company seeks to move beyond years of regulatory battles and business setbacks. The rescue financing remains a key focus for investors questioning how value was allocated during the company’s financial crisis, according to Bloomber. About Juul Labs Inc. JUUL Labs, Inc., formerly known as Pax Labs, Inc., is an American electronic cigarette company, with its principal place of business in San Francisco, California. Marlboro cigarette maker Altria Group Inc (MO.N) paid $12.8 billion in 2018 for a 35% stake in Juul. Altria valued that stake at $450 million as of June 30, 2022. Juul had been the market leader in e-cigarettes since 2018, according to Euromonitor International. As of 2020, the company held 54.7% share of the $9.38 billion U.S. e-vapor market. On June 23, 2022, the U.S. Food and Drug Administration ordered Juul to remove its e-cigarettes from the U.S. market effective immediately, saying that Juul had failed to show the sale of its products would be appropriate for public health. The Columbia Circuit Court of Appeals on June 24, 2022, granted Juul's emergency request for a stay, pending its appeal of the decision. The FDA later said it was withholding the ban as it was doing an additional review of the company's marketing application. In July 2022, reports said that Juul was considering its options, including bankruptcy, and reportedly hired Kirkland & Ellis and Alvarez & Marsal, as well as bankers at Centerview Partners. On Sept. 6, 2022, Juul agreed to pay $438.5 million to settle claims by 34 U.S. states and territories over its marketing and sales practices, including that it improperly courted teenage buyers. On Sept. 20, 2022, Juul Labs sued the FDA in a federal court in Washington, D.C., over the agency's refusal to disclose documents supporting its order banning the company from selling e-cigarettes. The case is Juul Labs Inc v Food & Drug Administration, U.S. District Court, District of Columbia, No. 22-02853. KEYLINK ENTERPRISES: Unsecureds to be Paid in Full in Sale Plan --------------------------------------------------------------- Keylink Enterprises filed with the U.S. Bankruptcy Court for the Central District of California a Second Amended Disclosure Statement describing Second Amended Chapter 11 Plan dated July 7, 2026. The Debtor is a California LLC which was formed for the purpose of owning and operating the parcel of residential real estate located at 38261 Shoal Creek Drive, Murrieta, CA ("the subject property"). Currently, it is occupied by a residential tenant, Mr. Bo Weng, with a lease term that terminates March 2027. The Property does not collect any ongoing rental income. Rather, Mr. Weng prepaid rent in the amount of One Million Chinese Renminbi (RMB 1,000,000) for occupancy of the Property starting in March 2024. The Debtor, by and through its managing member, Zunfeng Zhao, reportedly set up automatic payments for the monthly mortgage with the secured lender. For an unexplained reason, the automatic payment arrangement was cancelled. As a result, scheduled mortgage payments were not made and the lender scheduled a Notice of Trustee Sale for October 14, 2025. Ms. Zhao attempted to work out a settlement and reinstatement of the loan, but the lender would accept no solution other than a full reinstatement of the loan. This bankruptcy case was filed to avoid an imminent foreclosure sale of the subject property. As a result, this Chapter 11 Bankruptcy is a true liquidation bankruptcy where the point of this action is to pay off all creditors, including the secured loan on the basis of a 100% payoff. As of the Petition Date, the Debtor was in the process of a formal state foreclosure proceeding with respect to its residential real estate property located at 38261 Shoal Creek Drive in Murrieta, California, which foreclosure was stayed with the filing of this Chapter 11 bankruptcy. A sale of the subject property at $1,618,000, with a deduction of 6% for projected closing costs, $97,080.00, and all other debts due for repayment at close, $1,383,607, will provide a healthy net profit to Debtor in the amount of $137,313. If closing costs or loan fees are greater than estimated, there are appreciable funds to cover any potential shortfall. It is further proposed that the sale of the subject property will either be closed or in an active escrow for sale within 150 days from the Effective Date of the Plan. Class 3 consists of General Unsecured Claims. The General Unsecured Claims shall be paid in full upon the sale of the subject property. The allowed unsecured claims total $23,174.00. The Debtor's Managing Member, Zunfeng Zhao, shall retain 100% interest in the Debtor. The Debtor does not generate an income. The minimal trustee and priority tax payments described within the Plan will be paid on the Effective Date of the Plan. The secured first loan, the larger administrative debt (attorney fees), and the general unsecured claims shall all be paid upon the sale of the subject property. A full-text copy of the Second Amended Disclosure Statement dated July 7, 2026 is available at https://urlcurt.com/u?l=RgLKF0 from PacerMonitor.com at no charge. Counsel to the Debtor: Krystina T. Tran, Esq. LAW OFFICES OF KRYSTINA T TRAN 17011 Beach Blvd, Suite 900 Huntington Beach, CA 92647 Telephone: (949) 797-9090 Facsimile: (949) 393-4999 About Keylink Enterprises Keylink Enterprises, a single-asset real estate entity, owns and manages the property at 38261 Shoal Creek Drive in Murrieta, California, valued at $1.56 million. Keylink Enterprises sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 8:25-bk-13463-MH) on December 9, 2025. At the time of the filing, Debtor had estimated assets of between $1,000,001 to $10 million and liabilities of between $1,000,001 to $10 million. Judge Mark Houle oversees the case. Law Offices of Krystina T Tran is Debtor's legal counsel. KIITOS BREWING: Seeks to Sell Brewery Assets at Auction ------------------------------------------------------- Kiitos Brewing LLC seeks approval from the U.S. Bankruptcy Court for the District of Utah, to sell Assets at auction, free and clear of liens, claims, interests, and encumbrances. The Debtor is a limited liability company organized under the laws of State of Utah and continues to operate its business. Description and details of the Assets to be sold can be found at Exhibit A, https://urlcurt.com/u?l=sHqiWL. The Debtor continues to diligently market the Property through its court-appointed auctioneer, New Mill Capital Disposition LLC. New Mill's market efforts include: New Mill will utilize the bidspotter.com buyer database which is the largest beverage/brewery buyer list in the world and 95% of breweries auctioned are sold in the platform. New Mill will also utilize industry trade publications by using their subscriber database and their direct marketing on websites and newsletters. New Mill will also use social media campaigns to target breweries. New Mill is by far the largest brewery equipment sales company in the world and will use its in-house database for brewery buyers, which is second to none. Any sales will be arm's length transactions. Neither New Mill nor the Debtor have made any promises or agreements to any parties to entice them to make an offer other than as disclosed in the Motion. The online auction will close on August 6, 2026. Bidding will commence seven days prior to the auction date. The Debtor and New Mill will provide the appropriate instruments necessary to transfer the Property to the successful purchase, which will be accompanied by the order approving the sale of the Property free and clear of liens and interests. The Debtor believes that the sale is proposed in good faith and is for fair value. About Kiitos Brewing LLC Kiitos Brewing, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Utah Case No. 26-22348) on April 24, 2025. In the petition signed by Andrew Dasenbrock, managing member, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Judge Michael F. Thomson oversees the case. Andres Diaz, Esq., at Diaz & Larsen, represents the Debtor as legal counsel. Mountain West Bank, as lender, is represented by Devin G. Bray, Esq. at Hawley Troxell Ennis and Hawley LLP. KINGSBROOK MHC: M. Shapiro's Mark S. Kassab Appointed as Receiver ----------------------------------------------------------------- The Hon. Jonathan J.C. Grey of the U.S. District Court for the Eastern District of Michigan, Southern Division, entered an agreed order directing the appointment of M. Shapiro Real Estate Group's Mark S. Kassab as receiver for Kingsbrook MHC - Michigan, LLC. Federal National Mortgage Association requested the appointment of a receiver. The Court ruled that Mark S. Kassab is appointed as receiver for the real property and manufactured home community located at 4600 N. Van Dyke Rd, Almont, Michigan 48003, to protect the parties' respective interests together with all buildings, structures, and improvements on the Receivership Property, which means; A. All of the collateral and assets of Kingsbrook MHC – Michigan, LLC, including, but not limited to, all machinery, apparatus and equipment, materials, supplies, articles of personal property used in connection with or with the operation of the Receivership Property; B. All of the cash, rent, royalties, issues, revenues, income, profits, insurance proceeds and other benefits, including tax appeal refunds, of the Receivership Property and the facilities thereon as more particularly described in the Mortgage filed with the Complaint, under present or future contracts, occupancy agreements, agreements for reimbursement, or otherwise, together with all accounts due or to become due as income in connection with the operations of the Receivership Property; C. All bank accounts maintained by Borrower or other defendants concerning the Receivership Property, including any operating accounts, escrow accounts, insurance-proceeds accounts, cash management accounts, and/or security deposit accounts. Borrower and its officers, directors, employees, partners, trustees, agents, representatives and/or any entity controlled by Borrower or any other defendant are directed to cooperate with the Receiver in the transition of the management of the Receivership Property and shall make immediately available to the Receiver the paper and electronic records required by this Order, provided that Borrower may retain copies, including, but not limited to, all: A. Leases, including communication/correspondence files and any insurance certificates; B. Tenant contact names, email addresses and telephone numbers; C. Copies of all on-site employee payroll records and employee files and applications to include the number of employees on health or dental programs by coverage (single, single plus, or family coverage), gender and age of each employee; D. All security deposits, security deposit accounts and an accounting for all security deposits; E. All information relating to tax appeals, including files, attorney retainer agreements and pleadings; and E. All information relating to tax appeals, including files, attorney retainer agreements and pleadings; and F. Borrower's EIN. Defendant shall provide the Receiver with copies of all existing insurance policies for the property within three business days. The Receiver, the retained professional property manager, FHFA, and the Plaintiff shall each be named as an additional insured or as mortgagee, as their interest may appear, on all existing coverages, including property damage and general liability policies for the Property; The Defendant may not amend, modify, or cancel any existing insurance policy without the written consent of the Receiver, Plaintiff and/or FHFA. Furthermore, the Receiver is required to obtain written consent from the Plaintiff before any such amendment, modification or cancellation of any existing insurance policy. Receiver shall, at its sole cost and expense, obtain and carry in full force and effect for Receiver and its employees insurance coverages for professional liability/errors and omissions and fidelity/crime. Such professional liability/errors and omissions coverage will have a minimum per claim coverage amount of $5 million and fidelity/crime coverage will have a minimum per claim coverage amount equal to the greater of $1 million per claim or four months of revenue using the agreed budget for the property. The maximum deductible or self-insured retention or any combination thereof for each coverage shall be no more than $25,000. The premiums for insurance policies and deductibles for all Receiver Business Insurance shall not be expenses of the Receivership estate. The Receiver is authorized to initiate, defend, negotiate, settle, or otherwise dispose of any claim or litigation that concerns the Property or the Receivership Estate, subject to Fannie Mae's approval to the extent such settlement shall affect Fannie Mae’s security interests in the Property and all related Fannie Mae interests thereto. The Receiver shall be vested with all the powers and responsibilities of a receiver as provided in this Order, subject to the rights, titles, powers, privileges, and functions of the Federal Housing Finance Agency ("FHFA") under the Housing and Economic Recovery Act of 2008 ("HERA"). FHFA retains all its federal powers and functions, including the right to assert such powers and protections to preclude the Receiver and the receivership from restraining or affecting the Conservator's powers or functions as to Plaintiff's interests at issue. Fannie Mae and FHFA, as Conservator of Fannie Mae, retain and may exercise without further Court approval any of their rights under the Loan Documents and HERA. The Receiver's powers as outlined in this Order do not in any way diminish Fannie Mae's rights under the Loan Documents or FHFA's rights, powers, and functions as Fannie Mae's Conservator and successor under HERA. Any Receiver's certificates or Receiver's liens shall be subordinate to any interests of Fannie Mae under the Loan Documents. Borrower, the other defendants, and all persons, other than the Receiver or those acting in furtherance of a direction from the Receiver, who receive actual notice of this Order by personal service or otherwise are restrained and enjoined from doing any act that would interfere with the Receiver's taking custody, control, possession, or management of the Receivership Property; would harass or interfere with the Receiver in any way; would interfere in any manner with the exclusive jurisdiction of this Court over the Receivership Property; or would constitute a refusal to cooperate with the Receiver or the Receiver's duly authorized agents in the exercise of their duties or authority under any Order of this Court. Subject to Fannie Mae and FHFA's rights and powers under this Order and HERA, the Receiver is vested with all authority necessary or appropriate to carry out the intent and purpose of this Order, and to operate and maintain the Property and the Receivership Estate. Notwithstanding anything to the contrary contained in this Order, the Receiver shall not have the authority to file a petition for relief under Title 11 United States Code for Borrower, any other defendant, or the Receivership Property. The Receiver shall receive payment every month, without further Court order, provided no objections are filed by the parties to the Receiver's monthly reports, within seven business days, such reports are emailed to the parties to this action, through their respective counsel. In the event any objections are timely filed, the Receiver or any other party may file a motion with the Court to determine the propriety of the fees sought or of the objection(s). Such payment shall also include ordinary operating expenses of the Receiver shall also be reimbursed for out-of-pocket costs advanced by Receiver to the extent such costs directly relate to Receiver's duties hereunder; provided, however, that the Receiver must obtain written approval from Fannie Mae before incurring any single cost or expense in excess of $5,000, unless such cost or expense is deemed by Receiver to be an emergency, in which case Receiver shall promptly provide Plaintiff with notice and full explanation of such emergency cost or expense. Should the Receiver have funds in excess of the anticipated operating expenses and fees incurred pursuant to this Order, including an appropriate reserve in an amount to be approved by Fannie Mae, for the Receivership Property, the Receiver shall deliver to Fannie Mae all such funds upon demand by Fannie Mae and/or monthly. Should the Receiver not have sufficient funds to pay all of the Operating Expenses for the Receivership Property, Fannie Mae may, in its sole discretion and subject to further order of this Court, advance its own funds to pay such Operating Expenses as Fannie Mae may elect to have paid. Neither Fannie Mae nor the Receiver shall be liable for any claim, obligation, liability, action, cause of action, cost or expense of Borrower, any other defendant, or the Receivership Property arising out of or relating to events or circumstances occurring before this Order, including without limitation, any contingent or unliquidated obligations and any liability from the performance of services rendered by third parties on behalf of Borrower or any other defendant, and any liability to which Borrower or any other defendant is currently or may ultimately be exposed under any applicable laws on the ownership, use or operation of the Receivership Property and operation of Borrower's business. The Receiver shall post a surety bond for not less than $10,000.00, and the cost of the Receiver's Bond and any renewals or extensions thereof shall not be an expense of the Receivership Property paid from Receivership Property funds. The Receiver is authorized, in its discretion, to operate the Receivership Property under all existing agreements that are currently in place between Borrower, any other defendant, and any third party, as well as any Borrower's or other defendants' plans and specifications, cost estimates, reports, permits, licenses, certificates of occupancy, development rights, warranties, guaranties, telephone exchanges, and trademarks. The Receiver's actions at all times shall be commercially reasonable, and the Receiver is subject to the personal jurisdiction of this Court. This Order may be amended for cause, either upon the stipulation of the Receiver and the parties, or for cause, after a motion and hearing. About Kingsbrook MHC - Michigan, LLC Kingsbrook MHC - Michigan, LLC owns a real property and manufactured home community located at 4600 N. Van Dyke Rd, Almont, Michigan 48003. Fannie Mae alleges that Kingsbrook MHC has defaulted on its obligations under the note, mortgage and other loan documents evidencing and/or securing a $7,871,000 loan, originally provided on June 30, 2025, by ORIX Real Estate Capital, LLC d/b/a Lument Capital. Kingsbrook MHC is facing a receivership case captioned as Federal National Mortgage Association v. Kingsbrook MHC - Michigan, LLC, Case No. 2:26-cv-11856 (E.D. Mich.), before the Hon. Jonathan J.C. Grey. The case was filed on June 4, 2026. Federal National Mortgage Association, aka Fannie Mae, is represented by: Ann Marie Uetz, Esq. Foley & Lardner LLP Tel: (313) 234-7100 E-mail: auetz@foley.com LA TENTACION: Hires Lex Nova Law as General Bankruptcy Counsel -------------------------------------------------------------- La Tentacion Pizza & Tex Mex Grille, LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ Lex Nova Law, LLC as counsel. The firm will render these services: (a) advise the Debtor with respect to its powers and duties in the continuing management of its financial affairs; (b) advise the Debtor with respect to the preparation of a plan of reorganization; (c) prepare necessary pleadings on behalf of the Debtor and appear before this Court regarding the same; (d) advise the Debtor regarding procedural and operational issues in its capacity; and (e) perform additional legal services as may be required to facilitate the Debtor's reorganizational efforts. The firm will be paid at these hourly rates: Associates/partners $300 - $975 E. Richard Dressel $300 Paralegals $300 In addition, the firm will seek reimbursement for expenses incurred. Mr. Dressel 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: E. Richard Dressel, Esq. Lex Nova Law, LLC 20000 Horizon Drive, Suite 750 Mt. Laurel, NJ 08054 Telephone: (856) 382-8211 Email: rdressel@lexnovalaw.com About La Tentacion Pizza & Tex Mex Grille La Tentacion Pizza & Tex Mex Grille, LLC, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 26-17458) on June 29, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. E. Richard Dressel, Esq., at Lex Nova Law, LLC represents the Debtor as counsel. LCI INDUSTRIES: Moody's Affirms 'Ba3' CFR, Outlook Stable --------------------------------------------------------- Moody's Ratings has affirmed ratings of LCI Industries, including the Ba3 corporate family rating, the Ba3-PD probability of default rating (and maintained the speculative grade liquidity rating of SGL-1. Moody's also affirmed Lippert Components, Inc.'s Ba2 senior secured bank credit facility ratings. Lippert Components, Inc. is a wholly owned subsidiary of LCI Industries. The outlook is stable. The affirmation follows the June 30, 2026, announcement that Patrick Industries and LCI Industries have entered into an all-stock merger. LCI Industries shareholders will receive 1.2440 shares of Patrick Industries common stock for each share of LCI Industries common stock. Patrick Industries shareholders will own approximately 52% of the combined company and LCI Industries shareholders will own approximately 48% of the combined company upon completion of the transaction. The transaction is expected to close in the first half of 2027 and is subject to shareholder and regulatory approvals. Post-close, Moody's expects the merged company will be considerably larger with a more diversified business profile and meaningful opportunities for synergies. Upon closing of the merger, ratings for LCI Industries and Lippert Components, Inc. are expected to be withdrawn. Governance is a driver of the rating action because of the transformative nature of the transaction. RATINGS RATIONALE LCI Industries' ratings, including its Ba3 corporate family rating with a stable outlook, reflect the company's significant market position as a key supplier to the recreational vehicle (RV) and marine markets. The company's relationships with some of the largest original equipment manufacturers (OEM) span 15 years and longer. LCI Industries' longstanding relationships with its customers have provided a strong foundation to continue to supply these OEMs with critical products such as chassis, windows, doors and furniture, and also launch new products to diversify revenue. The customer base has grown over time and spans recreational vehicles, transportation, marine and housing markets. LCI has maintained low to moderate financial leverage that is supported by stable cash flow, very good liquidity and a manageable debt balance. The stable outlook reflects Moody's expectations of positive free cash flow and maintenance of very good liquidity over the next 12-18 months. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS LCI Industries' ratings could be upgraded if the company maintains a conservative balance sheet with adjusted debt-to-EBITDA sustained towards 2.0x. Moody's expectations of a more stable operating environment in key RV and marine markets along with strong liquidity and robust cash generation could also result in an upgrade. The ratings could be downgraded if adjusted debt-to-EBITDA is sustained above 3.0x. Should Moody's expects weakening end-market demand, a decline in liquidity, or more aggressive financial polices involving large debt-financed acquisitions, a ratings downgrade could occur. LCI Industries, headquartered in Elkhart, Indiana, is a global supplier of components for OEMs in the outdoor recreation and transportation markets and related aftermarkets. The business consists primarily of recreational vehicles and adjacent industries such as buses, trailers, trucks, boats, trains and manufactured housing. Revenue for the twelve months ended March 2026 was $4.17 billion. The principal methodology used in these ratings was Manufacturing published in September 2025. LEGACY WORLDWIDE: Unsecureds Will Get 51% of Claims over 5 Years ---------------------------------------------------------------- Legacy Worldwide, L.L.C. filed with the U.S. Bankruptcy Court for the Northern District of Georgia an Amended Plan of Reorganization dated July 6, 2026. The Debtor is a business that operates an advertising firm that provides both traditional and digital marketing, including media buying, script-to-screen production, and creative services (the "Business"). The Debtor's sole member is Damon Davis (“Mr. Davis”) who owns 100% of Debtor. Mr. Davis is Debtor’s Chief Executive Officer and works diligently in the Business and will continue to receive a salary from Debtor. To address cash flow during the financially turbulent years post COVID, ZWC's closure and now AI, Debtor turned to merchant cash advance companies. Debtor's financial difficulties arose primarily from the burden of multiple merchant cash advance obligations, the cumulative cost of which became unsustainable and impaired Debtor's ability to meet its ongoing operational expenses and debt service obligations. Ultimately, Debtor struggled to meet its debt service obligations. Accordingly, Debtor was forced to file for bankruptcy relief to obtain the breathing room needed to reorganize its operations. Debtor filed this bankruptcy case to reorganize its debts and pay its creditors under a subchapter V plan of reorganization. This Plan deals with all property of Debtor and provides for treatment of all Claims against Debtor and its property. Class 3 consists of the Unsecured Claim of Itria. Itria filed a proof of claim asserting a secured claim in the amount of $517,461.17. Debtor scheduled the claim of Itria as disputed. Itria purportedly purchased Debtor's accounts receivable in 2025. At the time of these purchases, Debtor's accounts receivable were wholly encumbered by the SBA. There were no accounts receivable to purchase from Debtor at the time Itria distributed funds to Debtor. As a result, the Class 3 Claim is unsecured. Itria's unsecured claim shall be paid on a Pro Rata Basis with the Class 6 General Unsecured Creditors. Class 4 consists of the Unsecured Claim of Libertas. Libertas filed a proof of claim asserting a secured claim in the amount of $469,472.06. Debtor scheduled the claim of Libertas as disputed. Libertas purportedly purchased Debtor's accounts receivable in 2025. At the time of these purchases, Debtor's accounts receivable were wholly encumbered by the SBA. There were no accounts receivable to purchase from Debtor at the time Itria distributed funds to Debtor. As a result, the Class 4 Claim is unsecured. Libertas's unsecured claim shall be paid on a Pro Rata Basis with the Class 6 General Unsecured Creditors. Class 5 shall consist of the Convenience Class of General Unsecured Creditor Claims. General Unsecured Creditors with Allowed Claims that are less than $2,000.00 are part of this Class 5 and shall be paid in full on the Effective Date of the Plan. Class 5 is Unimpaired and not entitled to vote to accept or reject the Plan. Class 6 shall consist of General Unsecured Claims. The Allowed Class 6 Claims shall be paid on a pro rata basis over 5 years on a quarterly basis beginning on the last day of the first full quarter following the Effective Date. Debtor believes that the Allowed Class 6 Claims total $1,275,419 and shall be paid on a pro rata basis from Debtor's projected disposable income of $650,464 over 5 years. Each Class 6 Claimant shall receive a distribution of approximately 51% of its Allowed Claim. Class 6 is Impaired. If the Plan is confirmed under Section 1191(a) of the Bankruptcy Code, General Unsecured Creditors shall be paid in full on a pro rata basis over 5 years in equal quarterly payments beginning on the last day of the first full quarter after the Effective Date and will continue to be paid for 19 additional quarters on the last day of each quarter. The total quarterly payment to be shared on a pro rata basis is $32,523 which consists of Debtor’s projected disposable income over the 5-year life of the Plan. If the Plan is confirmed under Section 1191(b) of the Bankruptcy Code, Class 6 shall be treated the same as if the Plan was confirmed under Section 1191(a) of the Bankruptcy Code. Class 7 consists of Mr. Davis as the only equity interest holder in Debtor. Mr. Davis shall retain his interest in Debtor as the 100% owner of its outstanding membership interests. Upon confirmation, Debtor will be charged with administration of the Plan. Debtor will be authorized and empowered to take such actions as are required to effectuate the Plan. Debtor will file all post-confirmation reports required by the United States Trustee's office or by the Subchapter V Trustee. Debtor will also file the necessary final reports and may apply for a final decree as soon as practicable after substantial consummation and the completion of the claims analysis and objection process. The source of funds for the payments pursuant to the Plan is Debtor's continued business operations. Debtor shall pay Class 1 and Class 5 from its net income. Debtor shall pay Class 6 from its disposable net income. A full-text copy of the Amended Plan dated July 6, 2026 is available at https://urlcurt.com/u?l=0RXZ91 from PacerMonitor.com at no charge. Counsel to the Debtor: Ceci Christy, Esq. ROUNTREE, LEITMAN, KLEIN & GEER, LLC 2987 Clairmont Road, Suite 350 Atlanta, GA 30329 Telephone: (404) 584-1238 E-mail: cchristy@rlkglaw.com About Legacy Worldwide LLC Legacy Worldwide, LLC operates an advertising firm providing traditional and digital marketing services, including media buying, script-to-screen production, and creative services, and is solely owned by Damon Davis. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-52753) on March 1, 2026. In the petition signed by Damon Davis, chief executive officer, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Honorable Judge Lisa Ritchey Craig oversees the case. Will Geer, Esq., at Rountree, Leitman, Klein & Geer, LLC, is the Debtor's legal counsel. LEISURE INVESTMENTS: Opposes Former CEO's Chapter 11 Dismissal Bid ------------------------------------------------------------------ Emily Lever of Law360 Bankruptcy Authority reports that Leisure Investments Holdings LLC has urged a Delaware bankruptcy judge to reject a motion filed by its former chief executive seeking to dismiss the company's Chapter 11 proceedings. The company argued that the former executive's allegations are based on material inaccuracies and fail to reflect the true circumstances surrounding the bankruptcy filing. The debtor said its former CEO significantly misrepresented the company's financial position and the reasons management sought bankruptcy protection. According to Leisure Investments, Chapter 11 remains essential to protecting company assets, managing creditor claims and pursuing a comprehensive restructuring strategy. Leisure Investments asked the court to deny the dismissal motion, asserting that the bankruptcy case is progressing appropriately under judicial supervision. The court's forthcoming decision will determine whether the restructuring continues or whether the former executive's challenge gains traction, the report relays. About Leisure Investments Holdings Leisure Investments Holdings LLC and affiliates are operating under the name "The Dolphin Company," manage over 30 attractions, including dolphin habitats, marinas, water parks, and adventure parks, located in eight countries across three continents. Their primary operations are based in Mexico, the United States, and the Caribbean, with locations in Jamaica, the Cayman Islands, the Dominican Republic, and St. Kitts. These attractions are home to approximately 2,400 animals from more than 80 species of marine life, including a variety of marine mammals such as dolphins, sea lions, manatees, and seals, as well as birds and reptiles. As of 2023, the marine mammal population at the Debtors' parks includes roughly 295 dolphins, 51 sea lions, 18 manatees, and 18 seals. Leisure Investments Holdings LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case 25-10606) on March 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. Honorable Bankruptcy Judge Laurie Selber Silverstein handles the case. The Debtors tapped Robert S. Brady, Esq., Sean T. Greecher, Esq., Allison S. Mielke, Esq., and Jared W. Kochenash, Esq. as counsels. The Debtors' restructuring advisor is RIVERON MANAGEMENT SERVICES, LLC. The Debtors' Claims & Noticing Agent is KURTZMAN CARSON CONSULTANTS, LLC d/b/a VERITA GLOBAL. LEXARIA BIOSCIENCE: Reports $2 Million Net Loss in Fiscal Q3 ------------------------------------------------------------ Lexaria Bioscience Corp. filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting a net loss of $2.0 million for the three months ended May 31, 2026, compared to a net loss of $3.8 million for the same period in the prior year. For the nine months ended May 31, 2026, the Company reported a net loss of $5.0 million, compared to a net loss of $9.2 million in the corresponding prior-year period. The Company reported no revenues for the three months ended May 31, 2026, compared to $174,000 in the prior-year period. Revenues for the nine months ended May 31, 2026, decreased to $20,000 from $531,923 in the same period of the prior year. Liquidity and Capital Resources Since inception, the Company has incurred significant operating and net losses. Net losses attributable to shareholders were $5.0 million and $9.2 million for the nine months ended May 31, 2026, and May 31, 2025, respectively. As of May 31, 2026, the Company had an accumulated deficit of $68.5 million. The Company expects to continue to incur significant operating expenses and net losses over the next 12 months. Net losses may fluctuate significantly from quarter to quarter and year to year depending on the stage and complexity of its research and development studies and corporate expenditures, additional revenues received from the licensing of its technology, if any, and the receipt of payments under current or future collaborations. The recurring losses and negative net cash flows raise substantial doubt about the Company's ability to continue as a going concern. Going Concern The accompanying unaudited consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the ordinary course of business. As of May 31, 2026, the Company had cash and cash equivalents of approximately $3.5 million to settle $0.4 million in current liabilities. Management performed a review of the Company's cash flow forecast and, given its current development plans and cash management efforts, anticipates that cash resources will be sufficient to fund operations through the first quarter of fiscal year 2027. However, the Company concluded that its existing cash, combined with inflows expected from executed license agreements, will not be sufficient to meet its financial obligations for the twelve-month period following the issuance of these consolidated financial statements. Accordingly, there is substantial doubt about the Company's ability to continue as a going concern for at least one year following the date of the financial statements included in this quarterly report. The Company intends to fund operations, working capital, and other cash requirements during the twelve-month period subsequent to May 31, 2026, through equity financing arrangements and potentially through collaborations or strategic partnerships. The successful outcome of these future activities cannot be determined at this time, and there is no assurance that, if achieved, the Company will have sufficient funds to execute its intended business plan or generate positive operating results. Sources of Liquidity During the nine months ended May 31, 2026, the Company completed the following financing transactions: * September 29, 2025: Entered into a Securities Purchase Agreement and issued 2,666,667 shares of common stock at $1.50 per share, generating gross proceeds of $4.0 million and net proceeds of $3.5 million. Concurrently, the Company issued 2,666,667 share purchase warrants exercisable at $1.37 per share for a period of five years following the effectiveness of the related Form S-1 registration statement. The Company also issued placement agent warrants to purchase 93,333 shares at an exercise price of $1.875 per share. * December 14, 2025: Entered into a Securities Purchase Agreement and issued 2,661,600 shares of common stock at $1.315 per share, generating gross proceeds of $3.5 million and net proceeds of $3.0 million. Concurrently, the Company issued 2,661,600 share purchase warrants exercisable at $1.19 per share for a period of five years following the effectiveness of the related Form S-1 registration statement. The Company also issued placement agent warrants to purchase 93,156 shares at an exercise price of $1.6438 per share. The Company may also offer securities in response to market conditions or other circumstances if it believes such financing is required to advance its business plans. There is no certainty that future equity or debt financing will be available or obtainable on acceptable terms. A lack of adequate funding may force the Company to reduce spending, curtail or suspend planned programs, or possibly liquidate assets. Any of these actions could materially and adversely affect its business, cash flow, financial condition, results of operations, and future prospects. The sale of additional equity may result in additional dilution to stockholders. The Company may also enter into additional licensing agreements, collaborations, partnerships, alliances, marketing, distribution, or licensing arrangements with third parties to increase its capital resources. If it does so, it may have to relinquish valuable rights to its technologies, future revenue streams, research programs, or product candidates, or grant licenses on terms that may not be favorable. A full text copy of the Company's Form 10-Q is available at https://tinyurl.com/mr37vr22 About Lexaria Headquartered in Kelowna, BC, Canada, Lexaria Bioscience Corp. -- http://www.lexariabioscience.com/-- is a biotechnology company pursuing the enhancement of the bioavailability of a diverse and broad range of active pharmaceutical ingredients using its proprietary DehydraTECH drug delivery technology. The Company currently focuses on the investigation of the incorporation of its DehydraTECH drug delivery technology with GLP-1 and GIP drugs to enhance absorption and reduce adverse events. Houston, Texas-based MaloneBailey, LLP, the Company's auditor since 2022, issued a "going concern" qualification in its report dated November 26, 2025, attached to the Company's Annual Report on Form 10-K for the year ended August 31, 2025, citing that the Company has suffered recurring losses from operations that raise substantial doubt about its ability to continue as a going concern. As of May 31, 2026, the Company had $4.8 million in total assets, $437,091 in total liabilities, and $4.3 million in total stockholders' equity. LSF12 BADGER: $80MM Incremental Loan No Impact on Moody's 'B2' CFR ------------------------------------------------------------------ Moody's Ratings said that LSF12 Badger Bidco, LLC's (CentroMotion) proposed $80 million fungible incremental senior secured 1st lien term loan B will have no impact on the company's existing ratings, including the B2 corporate family rating and B2-PD probability of default rating. Moody's further noted that the B2 ratings on the existing senior secured 1st lien bank credit facilities and the stable outlook are also unchanged. CentroMotion plans to use the proceeds from the $80 million incremental term loan and $20 million of existing cash to pay out a $100 million dividend. The dividend recapitalization is a credit negative as it will raise adjusted debt/EBITDA from 4.7x to 5.3x. However, CentroMotion's performance has improved over the past year due to a rebound in the company's end markets and the successful implementation of a variety of efficiency initiatives. In addition, Moody's expects CentroMotion to maintain very good liquidity. At the close of the transaction, CentroMotion will hold $75 million in cash and will have access to a $100 million revolver. Moody's expects the facility to be undrawn over the next 12-18 months. Headquartered in Waukesha, Wisconsin, CentroMotion designs and manufactures highly engineered motion, actuation and control solutions for a variety of end markets including agriculture, construction, commercial vehicles, and mining. The entity is owned by Lone Star Funds. Revenue for the twelve months ended March 31, 2026 was $804 million. LUCID GROUP: Shares Dip After Tapping Restructuring Adviser ----------------------------------------------------------- David Welch and Ed Ludlow of Bloomberg News report that electric vehicle manufacturer Lucid Group Inc. has brought in restructuring adviser AlixPartners to help evaluate its operations and develop measures aimed at improving performance. The company has rejected recent bankruptcy rumors, calling speculation that it could seek Chapter 11 protection "completely false." People familiar with the matter said AlixPartners is reviewing various parts of Lucid's business as the automaker works to reduce expenses, increase operational efficiency and support the planned launch of a new mid-size vehicle. The review is intended to help Lucid navigate financial pressures affecting the EV industry. Lucid confirmed that it has engaged AlixPartners but did not disclose specific recommendations or potential restructuring actions. The company said the adviser's involvement is part of efforts to optimize its operations and position the business for future growth. The move comes as EV companies face a difficult market environment marked by weaker demand, pricing pressure and significant capital requirements. Lucid is seeking to improve its financial position while continuing development of its vehicle lineup, the report states. About Lucid Group Inc. Lucid Group, Inc., is a technology and automotive company focused on designing, developing, manufacturing, and selling the next generation of electric vehicles, EV powertrains and battery systems. In August 2024, Lucid announced that an affiliate of Saudi Arabia's Public Investment Fund is set to provide Lucid Group with up to $1.5 billion in cash, which will boost the company's shares as it prepares to launch its first sport utility vehicle. Ayar Third Investment Company has committed to make the investments through the purchase of $750 million in convertible preferred stock and the provision of a $750 million unsecured credit. The new investment is provided while the automaker tries to deal with declining demand for electric vehicles and production obstacles. LUGANO DIAMONDS: Gets Conditional Court OK for Plan Disclosures --------------------------------------------------------------- Vince Sullivan of Law360 Bankruptcy Authority reports that a Delaware bankruptcy judge on Tuesday, July 14, 2026, gave conditional approval to the disclosure statement supporting Lugano Diamonds' Chapter 11 reorganization plan, allowing the company to begin soliciting creditor votes. The court held that unresolved objections should be considered during the upcoming confirmation hearing instead of delaying the disclosure statement. Objecting parties questioned several aspects of the proposed restructuring, but the judge found those concerns are more appropriately addressed when the court determines whether the plan itself satisfies the requirements for confirmation. As a result, the disclosure statement was permitted to move forward despite the pending issues, the report states. The ruling advances Lugano Diamonds' efforts to emerge from Chapter 11 by enabling the company to continue the voting process. The court will later decide whether the proposed reorganization plan should receive final confirmation after considering any remaining objections from creditors and other stakeholders, according to report. About Lugano Diamonds & Jewelry Inc. Lugano Diamonds & Jewelry, Inc. designs, manufactures, and retails high-end jewelry, offering rings, necklaces, earrings, bracelets, and brooches produced through an in-house workshop and a network of specialized vendors. It operates boutiques in affluent and destination markets such as Newport Beach, Aspen, Houston, Palm Beach, Chicago, and Ocala, and also sells through equestrian events and pop-up showrooms. Lugano Diamonds & Jewelry and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-12055) on November 16, 2025. The affiliates that filed for Chapter 11 separately are Lugano Buyer Inc. (Case No. 25-12052), K.L.D. Jewelry LLC (Case No. 25-12053), Lugano Prive LLC (Case No. 25-12054), and Lugano Prive LLC (Case No. 25-12056). In its petition, Lugano Diamonds & Jewelry reported assets of between $100 million and $500 million and liabilities of between $500 million and $1 billion. J. Michael Issa, chief restructuring officer, signed the petition. Judge Brendan Linehan Shannon presides over the cases. The Debtors tapped Young Conaway Stargatt & Taylor, LLP and Keller Benvenutti Kim, LLP as bankruptcy counsel; GlassRatner Advisory & Capital Group, LLC as restructuring advisor; and Armory Securities, LLC as investment banker. Omni Agent Solutions, Inc. is the Debtors' claims, noticing and administrative agent. The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee tapped Pachulski Stang Ziehl & Jones, LLP as legal counsel and Force Ten Partners, LLC as financial advisor. MARAGAL MEDICAL: No Patient Complaints, 2nd PCO Report Says ----------------------------------------------------------- Joseph Tomaino, the patient care ombudsman, filed with the U.S. Bankruptcy Court for the District of Massachusetts his second report regarding the quality of patient care provided by Maragal Medical P.C. On May 18, the PCO interviewed Maragal Medical regarding office operations and activities within the skilled nursing facilities. Maragal Medical reported no issues with payroll, staffing, or procuring supplies related to the bankruptcy and stated that operations are continuing as usual. The PCO interviewed the nurse practitioner who reported providing services to six facilities. She noted that the provider group has cross-coverage to ensure services continue during personal time off and that staffing is adequate to meet patient needs. Moreover, the clinical services she described are robust, thorough, and consistent with current standards of care. She reported that aside from some occasional differences in family expectations on rates of healing, the facilities and clients are satisfied with care. Mr. Tomaino received no complaints during the period. Based on the moderate-level risk determination, the PCO will implement the following monitoring plan for the next 60-day period: * The PCO will periodically contact the Debtor to establish if any supply or staffing issues have arisen, as well as any patient complaints, and may perform another office site visit. * The PCO will interview the Directors of Nursing for a sample of the skilled nursing facilities that wound care services are provided in to establish if there are any care issues. A copy of the PCO report is available for free at https://urlcurt.com/u?l=FP2CmM from PacerMonitor.com. The ombudsman may be reached at: Joseph Tomaino Chief Executive Officer Grassi Healthcare Advisors, LLC Phone: 212-223-5020 Fax: 212-755-6748 Email: jtomaino@grassihealthcareadvisors.com About Maragal Medical P.C. Maragal Medical, P.C. is a healthcare provider operating under Massachusetts law. Maragal Medical, P.C. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-40150) on February 13, 2026. In its petition, the Debtor reports estimated assets of $100,001-$1,000,000 and estimated liabilities of $1 million to $10 million. Honorable Chief Bankruptcy Judge Elizabeth D. Katz handles the case. The Debtor is represented by Andrew G. Lizotte, Esq., of Murphy & King, P.C. Joseph J. Tomaino is the patient care ombudsman appointed in the Debtor's case. MARTINI FITNESS: Seeks to Hire Carter Group as Real Estate Broker ----------------------------------------------------------------- Martini Fitness Corp. seeks approval from the U.S. Bankruptcy Court for the District of Massachusetts to hire Paul Carter of The Carter Group to serve as its exclusive real estate broker. The Debtor owns a real property located at 333 Tosca Drive in Stoughton, Massachusetts. The firm will provide these services: (a) serve as the company's exclusive real estate broker under an exclusive listing agreement; (b) market the Property; (c) sell the Property; (d) professionally market the Property; (e) attract qualified purchasers; and (f) maximize the value of the estate for creditors. The proposed compensation is a fee of 4% of the gross purchase price for the sale of the property. Court filings state that the proposed compensation is consistent with customary commissions charged by real estate brokers within the applicable market. Paul Carter 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: Paul Carter THE CARTER GROUP 115 Birch Street Stoughton, MA 02072 Telephone: (781) 367.0420 E-mail: cartergroup@comcast.net About Martini Fitness Corp. Martini Fitness, Corp. operates a fitness and athletic club facility in Stoughton, Massachusetts. The company provides recreational and wellness amenities, including indoor pickleball courts, gym facilities, an indoor saltwater pool, an indoor track, sauna and steam room access, serving fitness members and recreational sports users in the area. Martini Fitness Corp. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Mass. Case No. 26-10848-CJP) on April 15, 2026. At the time of the filing, Debtor had estimated assets of between $1,000,001 and $10 million and liabilities of between $1,000,001 and $10 million. Judge Christopher J. Panos oversees the case. Ehrhard & Associates, P.C. is Debtor's legal counsel. MARTINI FITNESS: Seeks to Hire Ehrhard & Associates as Counsel -------------------------------------------------------------- Martini Fitness, Corp. seeks approval from the U.S. Bankruptcy Court for the District of Massachusetts to hire Ehrhard & Associates, P.C. to serve as counsel. The firm will provide these services: (a) give the Debtor legal advice with respect to its powers and duties in this Chapter 11 proceeding; (b) perform necessary applications, answers, orders, reports and other legal papers required for these proceedings; (c) perform all other legal services that may be necessary in the Chapter 11 case; and (d) represent the Debtor in the sale, refinance or restructuring of its property. The firm received a $10,000 retainer, of which $8,262 is being held in escrow for legal fees and $1,738 is to be used for the filing fee. Any additional fees will be billed in accordance with the fee agreement, subject to court approval. Senior attorneys will bill at $325 per hour, while paralegals will bill at $175 per hour. Ehrhard & Associates, P.C. 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: James P. Ehrhard, Esq. EHRHARD & ASSOCIATES, P.C. 27 Mechanic Street, Suite 101 Worcester, MA 01608 Telephone: (508) 791-8411 E-mail: ehrhard@ehrhardlaw.com About Martini Fitness Corp. Martini Fitness, Corp. operates a fitness and athletic club facility in Stoughton, Massachusetts. The company provides recreational and wellness amenities, including indoor pickleball courts, gym facilities, an indoor saltwater pool, an indoor track, sauna and steam room access, serving fitness members and recreational sports users in the area. Martini Fitness Corp. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Mass. Case No. 26-10848-CJP) on April 15, 2026. At the time of the filing, Debtor had estimated assets of between $1,000,001 and $10 million and liabilities of between $1,000,001 and $10 million. Judge Christopher J. Panos oversees the case. Ehrhard & Associates, P.C. is Debtor's legal counsel. MEDICAL MANAGEMENT: No Decline in Resident Care, PCO Report Says ---------------------------------------------------------------- Nancy Pitra, Esq., the duly appointed patient care ombudsman, filed with the U.S. Bankruptcy Court for the Middle District of Georgia her second report regarding the quality of patient care provided by Medical Management Health and Rehab Center, LLC. During the April 8 visit, the resident census was 70 in-house and three at the hospital. The ombudsman representative for the Office of the State Long-Term Care Ombudsman (OSLTCO) visited with 10 residents, the administrator, nurses, direct care staff, and social services staff. The ombudsman representative received no complaints and noted no decline in resident care. Residents reported feeling comfortable addressing concerns with management. Staff appeared stable and responsive during the visit. The ombudsman representative observed that the older building appeared somewhat drab and run-down, with an odor noted on B-Hall. The administrator reported no issues obtaining supplies or groceries. The PCO is not aware of any significant changes in facility conditions or decline in resident care since her appointment. A copy of the ombudsman report is available for free at https://urlcurt.com/u?l=FUMgTU from PacerMonitor.com. The ombudsman may be reached at: Nancy Pitra, Esq. State Long-Term Care Ombudsman Office of the State Long-Term Care Ombudsman Georgia Department of Human Services 2 Peachtree Street, N.W., 33rd Floor Atlanta, GA 30303 Email: Nancy.Pitra@osltco.ga.gov About Medical Management Health and Rehab Center Medical Management Health and Rehab Center, LLC, registered in Bolingbroke, Georgia, operates a skilled nursing facility in Macon, Georgia, providing long-term care, short-term rehabilitation, and skilled nursing services. The Company is Medicare and Medicaid certified and maintains approximately 100 licensed beds. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Ga. Case No. 25-52007) on December 15, 2025, with $500,000 to $1 million in assets and $1 million to $10 million in liabilities. Michael E. Winget, Sr., manager, signed the petition. Honorable Judge Austin E. Carter oversees the case. Wesley J. Boyer, Esq., at Boyer Terry, LLC represents the Debtor as legal counsel. MEDICAL MANAGEMENT: No Decline in Resident Care, PCO Report Says ---------------------------------------------------------------- Nancy Pitra, Esq., the duly appointed patient care ombudsman, filed with the U.S. Bankruptcy Court for the Middle District of Georgia her third report regarding the quality of patient care provided by Medical Management Health and Rehab Center, LLC. During the June 10 visit, the resident census was 75. The ombudsman representative for the Office of the State Long-Term Care Ombudsman (OSLTCO) visited with 26 residents, the administrator, social services staff and laundry staff. The ombudsman representative received one complaint regarding laundry. Most residents reported being treated well, with no other concerns noted. The ombudsman representative noted no decline in resident care at this visit. Some residents appeared to be well groomed while others appeared somewhat disheveled and in need of grooming care. Majority of the residents were observed to be eating well, with staff members serving and assisting them. The patient care ombudsman is not aware of any significant change in facility conditions or decline in resident care for this nursing home since her appointment. A copy of the ombudsman report is available for free at https://urlcurt.com/u?l=9dxx4F from PacerMonitor.com. The ombudsman may be reached at: Nancy Pitra, Esq. State Long-Term Care Ombudsman Office of the State Long-Term Care Ombudsman Georgia Department of Human Services 2 Peachtree Street, N.W., 33rd Floor Atlanta, GA 30303 Email: Nancy.Pitra@osltco.ga.gov About Medical Management Health and Rehab Center Medical Management Health and Rehab Center, LLC, registered in Bolingbroke, Georgia, operates a skilled nursing facility in Macon, Georgia, providing long-term care, short-term rehabilitation, and skilled nursing services. The Company is Medicare and Medicaid certified and maintains approximately 100 licensed beds. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Ga. Case No. 25-52007) on December 15, 2025, with $500,000 to $1 million in assets and $1 million to $10 million in liabilities. Michael E. Winget, Sr., manager, signed the petition. Honorable Judge Austin E. Carter oversees the case. Wesley J. Boyer, Esq., at Boyer Terry, LLC represents the Debtor as legal counsel. MEDICAL SOLUTIONS: Moody's Lowers PDR to D-PD Amid Recapitalization ------------------------------------------------------------------- Moody's Ratings downgraded Medical Solutions Holdings, Inc.'s ("Medical Solutions") Probability of Default Rating to D-PD from Ca-PD following the completion of the company's debt exchanges, which Moody's consider a distressed exchange per Moody's definitions. The PDR will be upgraded to Ca-PD in three business days, reflecting the new capital structure. Moody's affirmed Medical Solutions Ca Corporate Family Rating. Concurrently, Moody's assigned a Caa2 rating to the company's new $143 million backed senior secured first lien first-out term loan A-1, Caa3 rating to the new $459 million backed senior secured first lien first-out term loan A-2, Caa3 rating to the new $180 million backed senior secured first lien first-out revolving credit facility, a C rating to the new $549 million backed senior secured first lien second-out term loan, and a C rating to the new $148 million backed senior secured first lien third-out term loan. Moody's downgraded the rating on the remaining senior secured first lien term loan to C from Ca and affirmed the rating on the remaining senior secured second lien credit facility at C. The Ca rating to the company's $180 million senior secured revolving credit facility expiring in 2026 was withdrawn. The outlook is stable. The rating action follows the completion of a debt exchange transaction in which the company partially repaid its existing credit facilities at a discount, which Moody's considers a distressed exchange. As part of the transaction, the company's $180 million revolving credit facility expiring in 2026 was replaced by a new $180 million first lien first-out revolving credit facility expiring in 2030. The company also issued a $143 million new first lien first-out term loan A-1 due in 2030. In addition, approximately 99% of the company's existing senior secured first lien term loan was exchanged into a combination of new first lien first-out A-2 loan, new second-out and third-out term loans (all due in 2030) at a discount. Also, approximately 61% of the company's existing second lien credit facility was exchanged into a combination of new second-out and third-out term loans at a discount. All unexchanged debt was subordinated and remains in the capital structure. The rating affirmation reflects Moody's opinion that the debt exchange transaction is not transformational for the capital structure, which remains unsustainable and it does not address the very high leverage of the company. Consequently, there is a risk that the company might engage in distressed exchange in the coming years. Governance risk is a consideration in the rating action given that the debt recapitalization transaction is considered a distressed exchange and therefore a default, which has negative implications for creditors as it relates to financial strategy and risk management. RATINGS RATIONALE Medical Solutions' Ca Corporate Family Rating reflects the company's very high financial leverage and weak interest coverage, as well as its constrained operating performance. The rating is further constrained by the cyclical nature of demand for travel nurses and labor pressures, including nurse staffing shortages. In addition, the rating incorporates financial policy risks under private equity ownership, including a history of distressed debt exchanges and shareholder-friendly transactions. The debt exchange transaction is not transformational for the capital structure, which remains unsustainable and it does not address the very high leverage of the company. Consequently, in Moody's views there is a risk that the company might engage in distressed exchange in the coming years. Medical Solutions will maintain weak liquidity. Sources of liquidity include $30 million of cash post transaction and $130 million available on the company's new first lien first out revolving credit facility expiring in 2030. The company has no additional availability on its extended AR facility expiring in 2029. Moody's expects significantly negative free cash flow for next 18 moth with the company's revolving credit facility being the primary source of liquidity. Moody's do expect the company to rely on the revolving credit facility, but there would be an adequate cushion on the covenant. Medical Solutions has limited capacity to sell assets to raise cash. The Caa2 rating on the $143 million first lien first-out term loan A-1 reflects the instrument's priority position with respect to the new $459 million first lien first-out term loan A-2 (rated Caa3) and new $180 million first lien first-out revolving credit facility (rated Caa3). The rating also reflects the presence of the AR facility in the capital structure. The Caa3 ratings on the first lien first-out term loan A-2 and new $180 million first lien first-out revolving credit facility reflect the loss absorption provided by the new $549 million first lien second-out term loan, new $148 million first lien third-out term loan, remaining senior secured first lien term loan and remaining second lien credit facility. The C ratings on all other instruments reflect the weak expected recovery in a default scenario. The stable outlook reflects Moody's views that Medical Solutions' operating performance and profitability will remain constrained and that the default probability is very high, given weak liquidity FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if the company improves its operating performance and liquidity so that the likelihood of a default decreases. Conversely, the ratings could be downgraded if Moody's expects the recovery rates for lenders to weaken. Medical Solutions is a leading provider of temporary staffing and direct hire recruitment services primarily to medical establishments located throughout the United States by providing healthcare professionals across a wide range of clinical employment types. Medical Solutions also provides nursing solutions during labor disputes. The company is owned by Centerbridge Partners and Caisse de dépôt et placement du Québec (CDPQ). Medical Solutions generated $1.9 billion in net revenue LTM March 31, 2026. The principal methodology used in these ratings was Business and Consumer Services published in February 2026. The Ca CFR is three notches below the Caa1 scorecard indicated outcome as Moody's have given more weight to the post default unsustainable capital structure and weak liquidity. MORRISON HOSPITAL: U.S. Trustee Appoints Susan Buxton as PCO ------------------------------------------------------------ William Harrington, the U.S. Trustee for Region 1, appointed Susan Buxton, the Long-Term Care Ombudsman for the State of New Hampshire, as patient care ombudsman for Morrison Hospital Association. The appointment was made pursuant to the order from the U.S. Bankruptcy Court for the District of New Hampshire on June 30. The ombudsman may be reached at: Susan Buxton DHHS Ombudsman Dolloff Building 4th Floor 117 Pleasant Street Concord, NH 03301 Phone: 603-271-4704 Email: Susan.C.Buxton@dhhs.nh.gov About Morrison Hospital Association Morrison Hospital Association sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. N.H. Case No. 26-10308) on April 10, 2026, with $1 million to $10 million in assets and $10 million to $50 million in liabilities. The petition was signed by Shannon Lynch as chief executive officer. Judge Kimberly Bacher oversees the case. The Debtor is represented by: Christopher M. Candon Sheehan, Phinney, Bass + Green, PA Tel: 603-668-0300 Email: ccandon@sheehan.com NATIONAL MAINTENANCE: Voluntary Chapter 11 Case Summary ------------------------------------------------------- Debtor: National Maintenance Contracting Corp. 5600 Niagara Falls Blvd. Niagara Falls NY 14304 Business Description: National Maintenance Contracting Corp. provides concrete construction, metal fabrication and welding, industrial maintenance, and general contracting services. Its work includes structural foundations, pipe fitting, powerhouse repairs, excavation, site preparation, framed-building construction, and building additions. Incorporated in 2007 and based in Niagara Falls, New York, the company serves municipalities, industrial clients, homeowners, and other property owners across Western New York. Chapter 11 Petition Date: July 13, 2026 Court: United States Bankruptcy Court Western District of New York Case No.: 26-10933 Judge: Hon. Carl L. Bucki Debtor's Counsel: Scott Michael Lupiani, Esq. PIERSON FERDINAND LLP 1270 Avenue of the Americas, 7th Floor - 1050 New York, NY 10020 Tel: (716) 469-2374 E-mail: scott.lupiani@pierferd.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Matthew M. Zacher as vice president. 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/FRU5OVI/National_Maintenance_Contracting__nywbke-26-10933__0001.0.pdf?mcid=tGE4TAMA NETCAPITAL INC: Secures $15 Million Commitment With Hudson Global ----------------------------------------------------------------- Netcapital Inc. announced in a regulatory filing that it closed the transactions contemplated by an Equity Purchase Agreement, dated as of June 29, 2026, by and between the Company and Hudson Global Ventures, LLC, a Nevada limited liability company. The closing occurred concurrently with the financing transaction previously disclosed by the Company in its Current Report on Form 8-K filed with the Securities and Exchange Commission on July 8, 2026, and the two transactions were negotiated together. Pursuant to the Purchase Agreement, upon the terms and subject to the conditions set forth therein, the Company has the right, but not the obligation, to sell to the Investor, from time to time during the commitment period, shares of the Company's common stock, par value $0.001 per share, having an aggregate purchase price of up to $15,000,000. The Company may require the Investor to purchase shares of Common Stock by delivering put notices from time to time, subject to the satisfaction of the conditions set forth in the Purchase Agreement. Under the Purchase Agreement, each put notice must be for a minimum amount of $25,000, calculated using the initial purchase price, and may not exceed the lesser of $2,000,000, calculated using the initial purchase price, or 200% of the average daily trading value, as more fully described in the Purchase Agreement. The purchase price for shares sold pursuant to a put notice will be the lesser of: (i) 92% of the average of the three lowest traded prices of the Common Stock on the principal market during the ten trading days immediately preceding the applicable put date and (ii) 92% of the lowest traded price of the Common Stock on the principal market during the valuation period, subject to the terms and conditions of the Purchase Agreement. The Company is not permitted to issue or sell shares under the Purchase Agreement in excess of 1,568,795 shares of Common Stock, subject to adjustment as provided in the Purchase Agreement, unless shareholder approval is obtained in accordance with Nasdaq Rule 5635(d). The Investor's obligation to purchase shares is also subject to additional conditions, including, among others, the effectiveness of a registration statement covering the resale of the shares, continued listing and trading of the Common Stock, DWAC eligibility, no DTC chill, compliance with SEC reporting requirements, the Common Stock not being deemed a "penny stock," and applicable beneficial ownership limitations. In connection with the Purchase Agreement, the Company also entered into a Registration Rights Agreement, dated as of June 29, 2026, with the Investor. Pursuant to the Registration Rights Agreement, the Company agreed to file, within 90 calendar days from the date of the Registration Rights Agreement, an initial registration statement covering the resale by the Investor of the maximum number of registrable securities permitted to be included thereon under applicable SEC rules, regulations and interpretations, beginning with the shares issuable upon exercise of the Warrant described below. In connection with the Purchase Agreement, the Company issued to the Investor a Common Stock Purchase Warrant, dated June 29, 2026, to purchase up to 1,000,000 shares of Common Stock, subject to adjustment as provided in the Warrant. The Warrant has an exercise price of $0.50 per share, is exercisable beginning on June 29, 2026, and terminates at 5:00 p.m. New York City time on June 29, 2029. The Warrant may be exercised on a cashless basis if, at the time of exercise, there is no effective registration statement registering, or no available prospectus for, the resale of the shares issuable upon exercise of the Warrant. The Warrant also provides that it will no longer be exercisable into Common Stock upon the first occurrence, on or after the issue date, of the Common Stock being deemed a "penny stock" as defined in SEC Rule 240.3a51-1. The Warrant is subject to a 4.99% beneficial ownership limitation, which may be increased or decreased upon notice to the Company, provided that the limitation may not exceed 9.99%, and any increase will not become effective until the 61st day after notice is delivered to the Company. Issuances under the Warrant are also subject to the Exchange Cap unless shareholder approval is obtained. Full text copies of the Purchase Agreement, the Registration Rights Agreement, and the Warrant are available at https://tinyurl.com/52fx64xs, https://tinyurl.com/3c7cf6jk, and https://tinyurl.com/wsxktwcb, respectively. About Netcapital Inc. Headquartered in Boston, Mass., Netcapital Inc. -- www.netcapital.com -- is a fintech company with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors. The Company's consulting group, Netcapital Advisors, provides marketing and strategic advice and takes equity positions in select companies. The Company's funding portal, Netcapital Funding Portal, Inc. is registered with the U.S. Securities & Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a registered national securities' association. Spokane, Washington-based Fruci & Associates II, PLLC, the Company's auditor since 2017, issued a "going concern" qualification in its report dated August 12, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended April 30, 2025, citing that the Company has a negative working capital, operating losses, and negative cash flows from operations. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. As of January 31, 2026, the Company had $26.06 million in total assets, $4.46 million in total liabilities, and $21.60 million in total stockholders' equity. NOISE ENTERTAINMENT: Unsecureds to Split $7,600 over 60 Months -------------------------------------------------------------- Noise Entertainment & Media, LLC filed with the U.S. Bankruptcy Court for the Northern District of Georgia a Plan of Reorganization dated July 6, 2026. The Debtor is a Georgia Corporation (LLC) that operates a motion picture and video production business. The Debtor owns real property located at 692 Tenth Street, N.W., Atlanta, GA 30318. Debtor was formed and incorporated in Georgia in 2013. The Debtor is managed and owned 100% by Rasool D. Malik, II. Mr. Malki is the Debtor's only insider. This Plan deals with all property of Debtor and provides for treatment of all Claims against Debtor and its property. Class 7 consists of Unsecured Claims. The Debtor estimates that the total amount of unsecured debt is $90,557.93. The Debtor proposes to pay general unsecured creditors a dividend of $7,631.49. This dividend is to paid quarterly over 60 months, beginning the following month after this court enters a confirmation order confirming this plan. If the plan is confirmed under Section 1191(a) of the Bankruptcy Code, Debtor shall pay the General Unsecured Creditors their pro rata share of $7,631.49 over 5 years. If the plan is confirmed under Section 1191(b) of the Bankruptcy Code, Class 7 shall be treated the same as if the Plan was confirmed under Section 1191(a) of the Bankruptcy Code. Holders of Allowed Class 7 Claims are Impaired and are entitled to vote. Class 8 consists of the Interest Claims. Mr. Malik shall retain his 100% ownership interest in Debtor. Upon confirmation, the Reorganized Debtor will be charged with administration of the Case. The Reorganized Debtor will be authorized and empowered take such actions as are required to effectuate the Plan, including the prosecution and enforcement of Causes of Action. The Reorganized Debtor will file all postconfirmation reports required by the United States Trustee's office. The Debtor shall pay be Debtor's income. The source of funds for payment to Debtor's General Unsecured Creditors, Class 7, shall be Debtor's disposable income and rental income. In the event Debtor's disposable income is insufficient in any month to pay the Class 7 payments, Debtor shall make the payment from his exempt assets, additional income, or the sale of any unencumbered assets. A full-text copy of the Plan of Reorganization dated July 6, 2026 is available at https://urlcurt.com/u?l=r3TzyK from PacerMonitor.com at no charge. Counsel to the Debtor: Brian S. Limbocker, Esq. Limbocker Law Firm, LLC 2230 Towne Lake Parkway Building 100, Ste. 140 Woodstock, GA 30189 Telephone: (678) 401-6836 Facsimile: (678) 412-4152 E-mail: bsl@limbockerlawfirm.com About Noise Entertainment & Media Noise Entertainment & Media, LLC, is a Georgia-based motion picture and video production company that owns real property in Atlanta. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-54573) on April 6, 2026, listing up to $10 million in both assets and liabilities. Rasool D. Malik, II, owner and president, signed the petition. Judge Paul W. Bonapfel oversees the case. Brian S. Limbocker, at Limbocker Law Firm, represents the Debtor as legal counsel. NORDICUS PARTNERS: Andrew Ritter Resigns from Board and Committees ------------------------------------------------------------------ Nordicus Partners Corporation announced in a regulatory filing that on July 7, 2026, Andrew J. Ritter resigned from the Board of Directors, effective immediately, to pursue other time-consuming business opportunities. He also resigned from the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee of the Board. Mr. Ritter's resignation was not the result of any disagreement with the Company on any matter relating to its operations, policies or practices. About Nordicus Partners Headquartered in Beverly Hills, Calif., Nordicus Partners Corporation is a financial consulting company specializing in providing Nordic companies with the best possible conditions to establish themselves in the U.S. market. The Company leverages management's combined 90+ years of experience in the corporate sector, serving in various capacities both domestically and globally. Additionally, Nordicus operates as a business incubator, offering support resources and services such as office space, legal and accounting services, and marketing expertise to facilitate a smooth transition for companies entering the U.S. marketplace. Spokane, Washington-based Fruci & Associates II, PLLC, the Company's auditor since 2023, issued a "going concern" qualification in its report dated July 29, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2025, citing that the Company has nominal revenue and has incurred losses since inception resulting in an accumulated deficit. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had $75.86 million in total assets, $11.11 million in total liabilities, and $64.75 million in total stockholders' equity. NORTH STAR: Moody's Assigns Ba2 Rating to Ser. 2026 Revenue Bonds ----------------------------------------------------------------- Moody's Ratings has assigned an initial Ba2 underlying and Aa2 enhanced rating to North Star Charter School, ID's Nonprofit Facilities Revenue Bonds (North Star Charter School Project), Series 2026 with a proposed par amount of $16.1 million. The bonds will be issued by the Idaho Housing and Finance Association on behalf of the charter school. The outlook is stable. Post-sale, the Series 2026 bonds will represent all of the charter school's outstanding bonded debt. RATINGS RATIONALE The Ba2 underlying rating reflects North Star Charter School's good competitive position as an alternative K-12 education provider in the affluent Boise (Aa1 stable) metropolitan area, balanced against elevated leverage, an extended debt repayment schedule, and relatively thin pro forma debt service coverage. The rating also incorporates the school's long operating history and improving financial management practices, which have contributed to stronger recent operating performance. However, credit quality remains constrained by a still limited scale, history of uneven financial results, and operating margins and debt service coverage that will remain relatively modest over the long term. The fiscal 2026 merger with an underperforming charter school offers prospects to further improve scale and competitive profile, although with some execution risk. Further, the school competes with other charter schools, private schools, and traditional local districts. Its smaller setting and strong academic track record should support continued enrollment at or near full capacity. The rating also incorporates North Star's strengthened governance and constructive relationship with its state-level authorizer, which support a currently low risk of charter non-renewal. Improved governance is a key driver of this rating assignment. Offsetting these strengths is the school's elevated leverage, which remains a key credit challenge. Proceeds of the Series 2026 bonds will be used in part to refinance existing debt originally issued in 2009, extending the debt service schedule to 2066, and increasing near-term debt service costs. The exceptionally long amortization period reflects the leverage challenge for a school with a small scope of operations and comparatively thin operating performance. In addition, the school will make an equity contribution of approximately $2.7 million to the refinancing, which will reduce its post-sale cash-to-debt ratio to an estimated 21%. Overall leverage includes unfunded liabilities associated with a statewide defined benefit pension plan. The Aa2 enhanced rating reflects the credit quality of the State of Idaho (Aaa stable) and its moral obligation pledge under the provisions of the Idaho Public Charter School Facilities Program (Aa2 stable). The program's strengths include statutory requirements that the Idaho Housing and Finance Association and the Governor request the legislature to make an appropriation to replenish the bonds' debt service reserve fund in the event of a draw on that fund. The rating also reflects the essentiality of charter schools in the state's K-12 education system and the state's established track record of making appropriation-backed debt payments under certain financing agreements for state projects. The two-notch distinction between the programmatic rating and the state's issuer rating reflects the weaknesses inherent in the contingent, subject-to-appropriation nature of the state's support. RATING OUTLOOK The stable outlook reflects Moody's expectations that North Star will maintain solid enrollment demand and operate at or near full capacity over the foreseeable future, supporting steady operating performance. The outlook also incorporates expectations that the school will maintain satisfactory liquidity and adequate debt service coverage despite elevated leverage and increased near-term debt service costs associated with the Series 2026 refinancing. FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS -- Sustained strengthening of enrollment demand, including waitlist growth and continued operation at or above full capacity -- Improvement in operating performance, with EBIDA margins above 15% and debt service coverage consistently above 1.5x -- Growth in spendable liquidity, resulting in higher days cash on hand and improved cash-to-debt metrics -- Reduction in leverage through amortization or limited additional borrowing FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS -- Enrollment declines or weakening demand due to competitive pressures or academic underperformance -- Deterioration in financial performance, including lower margins, declining liquidity, or weaker cash flow -- Debt service coverage falling below projected levels or nearing covenant thresholds -- Additional debt issuance that increases leverage and constrains financial flexibility -- Weakening relationship with the authorizer or increased risk of charter non-renewal PROFILE North Star Charter School is a nonprofit public charter school operating two campuses in Boise and Eagle, Idaho. The school provides K-12 education and reported enrollment of 1,143 students in fiscal 2026. North Star is governed by a seven-member Board of Directors and operates under a charter agreement with the Idaho Public Charter School Commission. The charter has been renewed multiple times since its original authorization and is currently in effect through June 30, 2028. METHODOLOGY The principal methodology used in the underlying rating was US Charter Schools published in April 2024. NORTH STAR: No Patient Care Concern, 2nd PCO Report Says -------------------------------------------------------- Suzanne Koenig, the patient care ombudsman, filed with the U.S. Bankruptcy Court for the Northern District of New York her second report regarding the quality of patient care provided by North Star Health Alliance, Inc. and affiliates. The Ombudsman and her representatives spent time at the Facilities and have met with the appropriate members of the Debtors' team who are entrenched in these operations and patient care issues from an organizational perspective. The ombudsman noted that the Child and Adolescent Behavioral Health unit was clean and bright; there are views of the St. Lawrence River from the common area. The common area was clean and open; staff were witnessed engaging with patients in a respectful and therapeutic manner. The nurses' station is a secured area contiguous to the common space, with windows along the desk providing full visibility of the surrounding area. The PCO representative observed that the improvements made at AIU at Carthage adult and pediatric medical surgical/telemetry unit since the previous site visit were readily apparent. The overall environment appeared to be more organized, cleaner, and better maintained. Fall risk assessments were completed and documented in accordance with hospital policy, and a current History and Physical was present and completed within the required timeframe. The ombudsman observed the kitchen to be clean and well organized. Food supplies were stored appropriately to maintain sanitation and facilitate inventory management. Dietary staff reported no concerns regarding food availability or vendor performance and indicated that routine deliveries continue to support uninterrupted meal service for patients. Overall, the dietary operation appeared to be functioning effectively and in a manner consistent with established food safety and infection prevention practices. Ms. Koenig conducted staff interviews with personnel from multiple departments. Staff reported having adequate staffing levels, sufficient supplies, and access to the equipment, clinical resources, and support necessary to perform their job duties. No concerns were expressed regarding resident supervision, service delivery, or the facility's ability to provide care consistent with resident needs. The ombudsman did not observe any significant concerns during this Report Period. A copy of the ombudsman report is available for free at https://urlcurt.com/u?l=14hy9p from Omni Agent Solutions, Inc., claims agent. About North Star Health Alliance Inc. The North Star Health Alliance is a collaborative system of healthcare provider organizations in Northern New York, committed to elevating community health and well-being. Members of the NSHA include Carthage Area Hospital, Claxton-Hepburn Medical Center, Claxton-Hepburn Medical Campus (Claxton Campus), North Country Orthopaedic Group, and Meadowbrook Terrace assisted Living Facility. By working together, it aims to enhance accessibility and affordability of care close to home, deliver exceptional medical services, and strengthen the local health infrastructure. The North Star Health Alliance sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D.N.Y. Case No. 26-60099) on February 10, 2026. In its petition, the Debtor reported between $500,000 and $1 million in both assets and liabilities. Honorable Bankruptcy Judge Wendy A. Kinsella handles the case. The Debtor is represented by Janice Grubin, Esq., and Jeffrey A. Dove, Esq., at Barclay Damon, LLP. Suzanne Koenig is the patient care ombudsman appointed in the case. NURIEL & GRACE: Unsecureds to Get 4 Cents on Dollar in Plan ----------------------------------------------------------- Nuriel & Grace, Inc. filed with the U.S. Bankruptcy Court for the Northern District of California a Plan of Reorganization for Small Business under Subchapter V dated July 7, 2026. The Debtor is a corporation. Since 2021 the Debtor has been in the business of operating a residential care home. The Debtor's financial projections show that the Debtor will have projected disposable income of $159,151.80. The final Plan payment is expected to be paid on Sept. 2031, which is anticipated to be 60 months after the effective date. This Plan of Reorganization proposes to pay creditors of the Debtor from cash flow from operations. Non-priority non-insider unsecured creditors holding allowed claims will receive distributions, which the proponent of this Plan has valued at approximately 4 cents on the dollar, consistent with the liquidation analysis in Exhibit A and projected disposable income in Exhibit B. This Plan also provides for the payment of administrative and priority claims. Class 3 consists of Non-priority unsecured claims. The general unsecured creditors (other than insider claims) shall be paid a pot of $20,000 distributed pro-rata as to allowed claims. This pot shall be paid in payments of $416.67/mo. distributed pro-rata commencing on the 1st day of the 13th months after the Effective Date and continuing on the first day of each successive month for 48 months. There are only two known non-insider general unsecured creditors as follows: Schueler ($463,154.14); and PG&E ($9,800.00). Therefore, Schueler will receive $463,154.14/(463,154.44 + 9,800) = 97.9% of the "pot" and PG&E 2.1% of the "pot." In the event that Debtor secures a 6th occupant, the "pot" shall be augmented by the additional revenue from the 6th occupant less additional direct expenses for such increased occupancy not to exceed 10% of the additional income. Class 5 consists of Equity security holders of the Debtor. The equity security holders shall retain their equity interest without change. The plan will be funded from the continued operations as a residential care facility. The facility has a capacity for six beds. Five beds are currently occupied. Debtor is actively searching for a sixth occupant. An additional occupant will increase revenue by about $5,000-$6,000 per month. If the occupant is sourced from a referral agency, however, Debtor will incur a commission of 30%-60% of the first month's rent. Gladys Martinez and Madonna Martinez will continue to serve as directors and officers of the Reorganized Debtor. A full-text copy of the Plan of Reorganization dated July 7, 2026 is available at https://urlcurt.com/u?l=GDzr7W from PacerMonitor.com at no charge. The firm can be reached through: Lars T. Fuller, Esq. Fuller Law Firm, PC 60 N. Keeble Ave. San Jose, Ca 95125 Telephone: (408) 295-5595 About Nuriel & Grace Inc. Nuriel & Grace, Inc. operates a residential care facility in Napa, California, providing assisted living and daily care services for elderly residents. Nuriel & Grace sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 26-10063) on January 31, 2026, with $912,023 in assets and $1,418,391 in liabilities. Gladys Martinez, chief executive officer, signed the petition. Judge Charles Novack oversees the case. Lars Fuller, Esq., at The Fuller Law Firm, PC represents the Debtor as counsel. OCUGEN INC: MENA License Deal Targets $4M Upfront, $255M Milestones ------------------------------------------------------------------- Ocugen, Inc. announced on July 13, 2026, that it signed a binding term sheet to negotiate and enter into a license agreement with Roots Pharmaceutical and its strategic partner, Al-Dhow International Holding, for the exclusive rights to OCU400, Ocugen's novel modifier gene therapy for Retinitis Pigmentosa (RP), in the Middle East and North Africa (MENA) region. Pursuant to the term sheet, under the license agreement, Ocugen is expected to receive upfront license fees and near-term development milestone payments totaling up to $4 million. The Company would be entitled to sales milestone payments up to $255 million, in addition to a 22% royalty on net sales of OCU400 generated by Ocugen's partner. Additionally, Ocugen would manufacture commercial supply of OCU400 under the terms of a related supply agreement. RP is a leading cause of inherited vision loss globally, with notable prevalence across the MENA region, underscoring the significant unmet need OCU400 is positioned to address through this partnership. "This step forward represents an important milestone in our effort to advance OCU400 regional partnership strategy," said Dr. Shankar Musunuri, Chairman, CEO, and Co-founder of Ocugen. "By partnering with an established leader with strong reach across the Middle East and North Africa, we are expanding our ability to bring this one-time potential treatment for life to a region where RP is highly prevalent with a significant unmet medical need where patients are desperately looking for rescue from blindness. This agreement underscores the momentum behind OCU400 and our continued commitment to patients." "Bringing innovative gene therapies to patients across the MENA region is a strategic imperative for Roots Pharmaceutical and its strategic partner Al-Dhow International Holding," said Dr. Islam Zayed, CEO & Co founder of Roots Pharmaceutical. Dr. Zayed emphasized that "OCU400 built on our legacy of bringing Rare Disease therapies to patients in MENA and enables our combined teams to decrease disease burden in the region. Importantly, Roots is dedicated to bringing OCU400 to patients with Retinitis Pigmentosa and creating a new treatment paradigm. We are excited to partner with the Ocugen team." Additional details will be available once the definitive agreement between the parties is executed, which is expected to occur within the next 90 days. Ocugen continues to advance OCU400 through its Phase 3 liMeliGhT clinical development with a topline readout expected in 1Q 2027 and BLA submission to follow. 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. OLIVE BRANCH: Unsecureds to Split $6K via Quarterly Payments ------------------------------------------------------------ Olive Branch Hospice, LLC filed with the U.S. Bankruptcy Court for the Northern District of Georgia a Plan of Reorganization dated July 6, 2026. The Debtor is a licensed hospice care provider serving patients and families throughout the greater Atlanta, Georgia metropolitan area. The Debtor provides in-home hospice services, including skilled nursing, medical social work, chaplaincy, and aide services, to patients facing terminal illness in the comfort of their own homes and residential care settings. The Debtor is certified to participate in the Medicare program and bills for services rendered to Medicare beneficiaries in accordance with applicable federal hospice benefit regulations. Since filing this case, the Debtor has reduced its number of employees to increase cash flow. The Debtor currently employs approximately 24 full- and part-time employees, including licensed nurses, certified home health aides, social workers, chaplains, and administrative personnel, all of whom are essential to the uninterrupted delivery of patient care. The Debtor employs Kimberly Griffith. Ms. Griffith's salary is set at $8,654.00 per bi-weekly pay period. However, Ms. Griffith's actual pay has been significantly less during the time leading up to filing this case, as well as since this case has been filed. This Plan deals with all property of Debtor and provides for treatment of all Claims against Debtor and its property. Class 7 shall consist of General Unsecured Claims including any potential deficiency claims. If the Plan is confirmed under Section 1191(a) of the Bankruptcy Code, Debtor shall pay the General Unsecured Creditors $300.00 in quarterly installments commencing on the first day of the full quarter immediately following the Effective Date and continuing on the 1st day of each quarter through and including the 20th quarter following the Effective Date. General Unsecured Creditors will receive 20 disbursements totaling $6,000.00. The Debtor anticipates and projects but does not warrant the following Holders of Class 7 Claims: Kapitus (Deficiency Balance) ($268,720.06); Bankers Healthcare ($255,645.01); Lendistry ($278,000.00); Newtek ($99,671.39); BayFirst National Bank ($140,988.07); Fintegra ($176,659.19); Headway Capital ($83,566.93); Rapid ($103,425.72); and Humana c/o Fox Swibel Levin & Carroll ($5,238.06). If the Plan is confirmed under Section 1191(b) of the Bankruptcy Code, Class 7 shall be treated the same as if the Plan was confirmed under Section 1191(a) of the Bankruptcy Code. The Claims of the Class 7 Creditors are Impaired by the Plan, and the holders of Class 7 Claims are entitled to vote to accept or reject the Plan. Class 8 consists of the Equity Holder of the Debtor. Each equity security holder will retain her interest in the reorganized Debtor as such Interest existed as of the Petition Date. This class is not impaired and is not eligible to vote on the Plan. Upon confirmation, Debtor will be charged with administration of the Plan. Debtor will be authorized and empowered to take such actions as are required to effectuate the Plan. Debtor will file all post-confirmation reports required by the United States Trustee's office or by the Subchapter V Trustee. Debtor will also file the necessary final reports and may apply for a final decree as soon as practicable after substantial consummation and the completion of the claims analysis and objection process. The source of funds for the payments pursuant to the Plan is Debtor's continued business operations. A full-text copy of the Plan of Reorganization dated July 6, 2026 is available at https://urlcurt.com/u?l=HJPZ6X from PacerMonitor.com at no charge. Counsel to the Debtor: William A. Rountree, Esq. Jonathan Clements, Esq. Rountree, Leitman Klein & Geer, LLC Century I Plaza 2987 Clairmont Road, Suite 350 Atlanta, GA 30329 Tel: (404) 584-1238 Email: wrountree@rlkglaw.com jclements@rlkglaw.com About Olive Branch Hospice Olive Branch Hospice, LLC a licensed hospice provider serving the greater Atlanta, Georgia area. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-20503) on April 6, 2026. In the petition signed by Kimberly Griffith, chief executive officer, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge James R. Sacca oversees the case. Will Geer, Esq., at Rountree, Leitman, Klein & Geer, LLC, represents the Debtor as legal counsel. ONE SOURCE: Seeks to Hire Goldbach Law Group as General Counsel --------------------------------------------------------------- One Source Direct LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Goldbach Law Group as counsel. The firm will render these services: (a) advise the Debtor of its legal rights and remedies; (b) negotiate with attorneys for unsecured creditors; (c) negotiate with creditors; (d) represent the Debtor at related hearings; (e) assist the Debtor in complying with Office of U.S. Trustee (OUST) rules and regulations; and (f) assist in paperwork preparation. The firm's counsel will be paid at these hourly rates: March Aaron Goldbach, Attorney $525 Legal Assistants $125 On June 8, 2026, the firm received an initial retainer of $15,000. On June 9, 2026, the firm received the second installment of $5,000 and $1,738 filing fee from the Debtor. Mr. Goldbach 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: Marc Aaron Goldbach, Esq. Goldbach Law Group 111 W. Ocean Blvd., Suite 400 Long Beach, CA 90802 Telephone: (562) 696-0582 Email: marc.goldbach@goldbachlaw.com About One Source Direct LLC One Source Direct LLC is a business services company that provides direct marketing, fulfillment, distribution, and related operational support solutions for commercial clients. One Source Direct LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-15826) on June 10, 2026. In its petition, the Debtor reported up to $10 million in both assets and liabilities. Honorable Bankruptcy Judge Neil W. Bason handles the case. The Debtor is represented by Marc A. Goldbach, Esq., at Goldbach Law Group. ONYX PORTFOLIO: To Sell Glenpatti Drive Property to Miguel A. Rojo ------------------------------------------------------------------ Onyx Portfolio, LLC, seeks permission from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor is a real estate holding company which owns and operates 46 single family homes (Properties) in various suburban communities in Houston, Texas. The lienholder of the Property is HFC Holdings 1, LLC. The Debtor receives an offer for the purchase of one of the Properties located at 17423 Glenpatti Drive (Glenpatti Drive) in the amount of $220,000.00 from Miguel A. Rojo Jr. The sale price represents the highest value of Glenpatti Drive in its current condition and under current real estate market conditions of similar properties located in Houston, Texas. The proposed sale is an "arm's length" transaction. The Debtor believes the sale of Glenpatti Drive is in the best interest of the estate. About Onyx Portfolio LLC Onyx Portfolio LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. TX Case No. 26-30080) on January 5, 2026. At the time of the filing, Debtor had estimated assets of between $1,000,001 and $10 million and liabilities of between $1,000,001 and $10 million. Judge Jeffrey P. Norman oversees the case. Susan Tran Adams is Debtor's legal counsel. OPTIMUM COMMUNICATIONS: Kite Lake Group Holds 3.3% Equity Stake --------------------------------------------------------------- Kite Lake Capital Management (UK) LLP, Kite Lake Capital Management Ltd, Kite Lake Capital Ltd., Massoumeh Khadjenouri, Jan Lernout, and KL Special Opportunities Master Fund Ltd., disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of July 1, 2026, each of Kite Lake Capital Management (UK) LLP, Kite Lake Capital Management Ltd, Kite Lake Capital Ltd., Massoumeh Khadjenouri, and Jan Lernout beneficially owns 9,541,544 shares and KL Special Opportunities Master Fund Ltd. beneficially owns 8,691,121 shares -- all with shared voting and shared dispositive power, and all securities being directly owned by advisory clients of Kite Lake Capital Management (UK) LLP -- of Optimum Communications, Inc.'s Class A Common Stock, $0.01 par value, representing 3.3% for each of the first five Reporting Persons and 3.0% for KL Special Opportunities Master Fund Ltd.; noting that as of the trigger date, each of the Reporting Persons was deemed to beneficially own an additional 6,856,619 shares (or 6,245,469 shares in the case of KL Special Opportunities Master Fund Ltd.). Kite Lake Capital Management (UK) LLP may be reached through: Art Markham 1st Floor, Tennyson House 159-165 Great Portland Street London W1W 5PA, United Kingdom Tel: 44-20-3728-0730 A full-text copy of Kite Lake Capital Management (UK) LLP' SEC report is available at: https://tinyurl.com/2t9vxkam About Optimum Communications Optimum Communications, Inc. (NYSE: OPTU) is one of the largest broadband communications and video services providers in the United States, delivering broadband, video, mobile, proprietary content and advertising services to approximately 4.3 million residential and business customers across 21 states through its Optimum brand. It operates Optimum Media, an advanced advertising and data business, which provides audience-based, multiscreen advertising solutions to local, regional and national businesses and advertising clients. It also operates News 12, which is focused on delivering best-in-class hyperlocal news content. Based on the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026, because the Company does not currently have committed financing or cash and cash equivalents combined with projected future cash flows sufficient to satisfy its debt maturities arising within the next 12 months, substantial doubt exists about the Company's ability to continue as a going concern within one year after the date the consolidated financial statements are issued. While management is pursuing efforts to refinance or restructure the Company's debt, or to raise additional capital sufficient to satisfy these debt maturities, there is no assurance these efforts will be successful. As of March 31, 2026, the Company had $27.9 billion in total assets, $33 billion in total liabilities, and $5.2 million in total stockholders' deficiency. OROVILLE HOSPITAL: PCO Says Patient Care Remains Stable ------------------------------------------------------- Jacob Nathan Rubin, the patient care ombudsman, filed with the U.S. Bankruptcy Court for the Eastern District of California his third report regarding the quality of patient care provided by Oroville Hospital and affiliates. The PCO noted that during the third reporting period, Oroville Hospital continued to operate as a critical regional access point for emergency, inpatient, outpatient, procedural, obstetric, post-acute, laboratory, pharmacy, and specialty services. The PCO did not identify current evidence that the Chapter 11 proceedings have caused closure of major service lines or present inability to deliver essential care. The PCO therefore views continuity of Oroville operations as a patient-safety issue. A health care business can appear financially distressed on paper and still remain clinically essential. Oroville Hospital is such a case. The record reviewed by the PCO does not justify the conclusion that current patient care requires shutdown. The PCO cited that the First Report found pharmacy operations functional and did not identify bankruptcy-related medication access failure. The Third Report continues that conclusion based on information reviewed to date. Pharmacy remains a critical monitoring area because pharmacy operations are sensitive to vendor confidence, purchasing liquidity, formulary substitutions, controlled substances, high-risk medications, 340B Drug Pricing Program access, and sale-transition planning. Mr. Rubin emphasized the importance of 340B Drug Pricing Program and outpatient pharmacy continuity. Oroville's outpatient and vulnerable patient populations depend on medication affordability and continuity. Any sale-transition, vendor disruption, or accounts receivable sweep that destabilizes pharmacy purchasing or 340B Drug Pricing Program operations would directly affect patient care. The PCO observed that the skilled nursing facility is safe and that bankruptcy has caused no systemic resident-care collapse. The PCO does conclude that the skilled nursing facility risk profile is execution-dependent. Passing a survey or filing a Plan of Correction is not the end of quality oversight. Durable compliance requires proof that the process still works after the survey team leaves. The PCO has not identified current evidence that the Debtors' Chapter 11 proceedings have materially impaired patient care at Oroville Hospital, affiliated clinics, or the skilled nursing facility. The hospital remains operational, essential services continue, and quality systems remain active. Leadership is engaged in responding to identified patient-care pressure points. A copy of the ombudsman report is available for free at https://urlcurt.com/u?l=uRU0bi from PacerMonitor.com. The ombudsman may be reached at: Jacob Nathan Rubin, M.D., F.A.C.C. 4940 Van Nuys Blvd. #200 Sherman Oaks, CA 91403 Bus. Tel.: (818) 501-1455 About Oroville Hospital Oroville Hospital is a full-service community healthcare provider located in Oroville, California. The hospital offers a broad range of medical services, including emergency care, inpatient and outpatient treatment, surgical procedures, diagnostic imaging, and specialty care programs. Committed to patient-centered care, Oroville Hospital focuses on quality outcomes, compassionate service, and maintaining strong community health partnerships. Oroville Hospital sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Cal. Case No. 25-26876) on December 8, 2025. 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 Christopher M. Klein oversees the case. The Debtor is represented by Nicholas A. Koffroth, Esq. Jacob Nathan Rubin is the patient care ombudsman appointed in the case. PACIFIC CAPITAL: Seeks to Tap Stevens Becker as Special Counsel --------------------------------------------------------------- Pacific Capital Funding Group, Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Northern District of California to employ Stevens Becker PC as special counsel. The firm will provide these services: (a) represent the Debtors in connection with the inquiries and investigations of the U.S. Securities and Exchange Commission, the U.S. Department of Justice, and the California Department of Financial Protection and Innovation; (b) respond to subpoenas, civil investigative demands, and document and information requests from governmental agencies; (c) collect, review, and produce documents responsive to such requests; (d) advise the Debtors and the chief restructuring officer regarding legal issues, exposure, and strategy arising from the matters under investigation; (e) advise the Debtors with respect to insurance matters arising from or relating to the foregoing; and (f) coordinate with the Debtors' bankruptcy counsel on matters where the foregoing intersects these Chapter 11 cases. The firm was paid an initial retainer of $20,000 on or about September 3, 2025. The Debtors paid additional retainers of $10,000 on March 27, 2026; $80,000 on May 26, 2026; and $7,500 on June 15, 2026. Lily Becker, Esq., an attorney at Stevens Becker, 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: Lily S. Becker, Esq. Stevens Becker PC 345 West Portal Ave., Suite 110 San Francisco, CA 94127 Telephone: (415) 237-3830 Email: lily@stevensbecker.com About Pacific Capital Funding Group Pacific Capital Funding Group and its affiliates filed their voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Cal. Lead Case No. 26-30538) on June 16, 2026, listing $10,000,001 to $50 million in both assets and liabilities. Judge William J. Lafferty oversees the cases. The Debtors tapped Bennett G. Young, Esq., at Jeffer Mangels & Mitchell LLP as bankruptcy counsel and Lily S. Becker, Esq., at Stevens Becker PC as special counsel. PACIFIC RIM: To Sell Equipment to Custom Bottling & Cascade Fresh ----------------------------------------------------------------- Pacific Rim Winemakers, Inc. seeks permission from the U.S. Bankruptcy Court for the Eastern District of New York, to sell Equipment, free and clear of liens, claims, interests, and encumbrances. Salvatore La Monica, Esq., is the Subchapter V trustee in the Debtor's case and in the cases of the Debtor's affiliates, G-4 Family Holdings, Inc. and G-4 Oregon Properties, LLC. Details of the Equipment to be sold and their respective prices can be found at https://urlcurt.com/u?l=dgnwDS. The Debtor seeks approval of the following proposed sales of equipment, in "as is" and "where is" condition, without representations or warranties, and free and clear of liens, claims and encumbrances. The Debtor enters into the CBC Sale Agreement with Custom Bottling Company for the purchase of certain equipment for the total cash price of $15,775.00. The Debtor enters into the Cascade Sale Agreement with Cascade Fresh Juice for the purchase of certain equipment for the total cash price of $35,000.00. The Debtor submits that the proposed private sales of equipment under the CBC Sale Agreement and the Cascade Sale Agreement are sound exercises of the Debtor's business judgment. The Debtor believes there are no liens or encumbrances on the Equipment. The Debtor submits that the terms of the Sale Agreements, including the fact that no competitive bidding is necessary, are fair and reasonable under the circumstances. About Pacific Rim Winemakers 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. PARA-MED MEDICAL: Hires Adroit Tax and Accounting as Accountant --------------------------------------------------------------- Para-Med Medical Transportation, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Maryland to employ Adroit Tax and Accounting as accountant. The firm's services include: (a) preparation of the Debtor's 2025 tax returns; and (b) preparation of monthly operating reports, financial projections and other general accounting matters. The firm will be paid at an hourly rate of $275 for the preparation of monthly operating reports, other bookkeeping matters, and the preparation of financial statements and projections. The firm will be paid at a flat fee of $2,500 upon completion of the 2025 tax returns. The firm represents no interest adverse to the Debtor or to the estate on the matters upon which it is to be engaged. The firm can be reached at: Adroit Tax and Accounting 9841 Washingtonian Blvd #500 Gaithersburg, MD 20878 About Para-Med Medical Transportation Inc. Para-Med Medical Transportation, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Md. Case No. 26-14795) on May 4, 2026, listing $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Lori S. Simpson presides over the case. The Debtor tapped Stephen A. Metz, Esq., at Offit Kurman, PA as counsel and Adroit Tax and Accounting as accountant. PARADISE ALLEY: Case Summary & 11 Unsecured Creditors ----------------------------------------------------- Two affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- Paradise Alley, LLC (Lead Case) 26-11679 4400 Hwy 22 Mandeville, LA 70471 Gator Lanes, LLC 26-11680 3715 Westbank Expressway Harvey, LA 70056 Business Description: Paradise Alley operates a bowling and entertainment facility in Mandeville, Louisiana. The business provides open-play and league bowling, arcade and pool activities, food and beverage service, live music, and birthday-party hosting. Its pro shop offers shoe rentals and bowling-ball drilling, resurfacing, and plugging services. The 32-lane facility was formerly known as Tiffany Lanes. Gator Lanes, LLC, doing business as Westside Lanes, operates a bowling center in Harvey, Louisiana. Chapter 11 Petition Date: July 9, 2026 Court: United States Bankruptcy Court Eastern District of Louisiana Debtors' Counsel: Patrick S. Garrity, Esq. Frederick L. Bunol, Esq. DERBES LAW FIRM, LLC 3027 Ridgelake Dr. Metairie, LA 70002 Tel: (504) 207-0920 E-mail: pgarrity@derbeslaw.com E-mail: fbunol@derbeslaw.com Each Debtor's Estimated Assets: $1 million to $10 million Each Debtor's Estimated Liabilities: $1 million to $10 million The petitions were signed by Hoang Cao as member. Full-text copy of the petitions, which include lists of the Debtors' 11 unsecured creditors, are available for free on PacerMonitor at: https://www.pacermonitor.com/view/O67ABWI/Paradise_Alley_LLC__laebke-26-11679__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/PF4AFWY/Gator_Lanes_LLC__laebke-26-11680__0001.0.pdf?mcid=tGE4TAMA PATRICK INDUSTRIES: Moody's Puts 'B1' CFR Under Review for Upgrade ------------------------------------------------------------------ Moody's Ratings placed Patrick Industries, Inc.'s ratings under review for upgrade, including the B1 corporate family rating, B1-PD probability of default rating and B3 senior unsecured notes rating. The speculative grade liquidity rating of SGL-1 was unchanged. The outlook, previously positive, was also changed to rating under review. The review follows the June 30, 2026 announcement that Patrick Industries and LCI Industries have entered into a definitive agreement in an all-stock merger. LCI Industries shareholders will receive 1.2440 shares of Patrick Industries common stock for each share of LCI Industries common stock. Patrick Industries shareholders will own approximately 52% of the combined company and LCI Industries shareholders will own approximately 48% of the combined company upon completion of the transaction. The transaction is scheduled to close in the first half of 2027 and is subject to shareholder and regulatory approvals. The review will focus on the operating profile, capital structure and financial policies of Patrick Industries following the completion of the transaction. Post-close, Moody's expects the company will be considerably larger with a more diversified business profile and meaningful opportunities for synergies. Governance is a driver of the rating action because of the transformative nature of the transaction. RATINGS RATIONALE / FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Excluding the ongoing review, the B1 CFR is supported by good credit metrics and a growing portfolio of products across a variety of end markets. The company benefits from a presence in recreational vehicles (RV), marine, powersports and manufactured housing (MH) and industrial markets. Moody's expects Patrick to maintain a conservative balance sheet with debt-to-EBITDA remaining at or below 3x over the next 12-18 months. Moody's recognizes the growing diversity of Patrick's end markets and the company's successful track record of generating healthy free cash flow. However, Patrick's operations will remain reliant on highly cyclical and discretionary end markets that are susceptible to economic downturns and vulnerable to significant earnings volatility. The demand outlook for some of Patrick's largest markets - RVs, powersports and marine - remains uncertain and there continues to be risks to the downside. The high interest rate environment continues to weigh on consumer spending for large discretionary purchases which impact Patrick's end markets. Patrick Industries, headquartered in Elkhart, Indiana, is a leading manufacturer and distributor of components parts in the RV, marine, powersports and housing markets. Revenue for the twelve months ended March 2026 was $3.95 billion. The principal methodology used in these ratings was Manufacturing published in September 2025. PLURI INC: Fails to Meet Nasdaq $35M Market Value Requirement ------------------------------------------------------------- Pluri Inc. announced in a regulatory filing that on July 7, 2026, it received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC indicating that it is not in compliance with Nasdaq Listing Rule 5550(b)(2), which requires the Company to maintain a minimum of $35 million in market value of listed securities for continued listing on The Nasdaq Capital Market, nor is it in compliance with either of the alternative listing standards, including having stockholders' equity of at least $2.5 million or net income of $500,000 from continuing operations in the most recently completed fiscal year, or in two of the three most recently completed fiscal years. The Notice has no immediate effect on the listing or trading of the Company's common shares, which will continue to trade on The Nasdaq Capital Market under the symbol "PLUR". Pursuant to the Notice, and in accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has been provided with an initial period of 180 calendar days, until January 4, 2027, to regain compliance with the MVLS Requirement. Nasdaq indicated that if, at any time during the Compliance Period, the Company's MVLS closes at $35 million or more for a minimum of 10 consecutive business days (unless Nasdaq, in its discretion, requires a longer period, but generally no more than 20 consecutive business days), Nasdaq will provide a written confirmation that the Company has regained compliance and the matter will be closed. In the event the Company does not regain compliance within the Compliance Period, the Company expects that Nasdaq will provide written notification that the Company's securities are subject to delisting. At that time, the Company may be eligible to appeal any delisting determination to a Nasdaq Hearings Panel. The hearing request would stay any suspension or delisting action pending the conclusion of the hearing process and the expiration of any additional extension period granted by the panel following the hearing. The Company is evaluating options to regain compliance with the MVLS Requirement and intends to take appropriate actions to regain compliance; however, there can be no assurance that the Company will be able to regain compliance with all applicable requirements or maintain compliance thereafter. About Pluri Inc. Haifa, Israel-based Pluri Inc. is a biotechnology company, leveraging proprietary cell expansion platform to develop scalable, cell-based solutions across the healthcare, food, and agriculture sectors. Kesselman & Kesselman, the Company's auditor since 2021, issued a "going concern" qualification in its report dated September 17, 2025, attached to the Company's Annual Report on Form 10-K for the year ended June 30, 2025, citing that the Company has incurred recurring losses and negative cash flows from operating activities and has an accumulated deficit as of June 30, 2025 and the loan received from European Investment Bank is due on June 1, 2026. These circumstances raise substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $26.06 million in total assets, $32.01 million in total current liabilities, $7.05 million in total noncurrent liabilities, and $12.10 million in total deficit. PLUTUS PROPERTIES: Seeks to Hire Compass RE Texas as Estate Broker ------------------------------------------------------------------ Plutus Properties, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to employ Compass RE Texas, LLC as real estate broker. The firm's services include: (a) advise the Debtor about the sale of a property located at 1801 Eagles Glen Cove, Austin, Tex.; (b) list, advertise, show and market such property; and (c) advise and assist the Debtor in responding to any offers to purchase such property. The firm will receive a commission of 3 percent of the sales price of the property upon transfer of title. Matt Van Winkle, a real estate agent at Compass RE Texas, 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: Matt Van Winkle Compass RE Texas, LLC 2500 Bee Caves Rd., Bldg. 3, Ste. 200, Austin, TX 78746 Telephone: (512) 813-7398 Email: matt.vanwinkle@compass.com. About Plutus Properties LLC Plutus Properties LLC is an Austin, Texas-based real estate company that owns and manages residential rental properties. Plutus Properties filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-11052) on June 1, 2026. In the petition signed by Matthew Perez, managing member, the Debtor disclosed estimated assets of $10 million to $50 million and estimated liabilities of $1 million to $10 million. Judge Christopher G. Bradley presides over the case. Frank B. Lyon, Esq., represents the Debtor as counsel. PROJECT BOOST: S&P Ups ICR to 'B' on Deleveraging, Outlook Stable ----------------------------------------------------------------- S&P Global Ratings raised its issuer credit rating on Project Boost Purchaser LLC (dba J.D. Power) to 'B' from 'B-'and its issue-level rating on its first-lien credit facilities to 'B' from 'B-'. The '3' recovery rating on the first-lien facilities is unchanged, indicating S&P's expectation for meaningful (50%-70%; rounded estimate: 55%) recovery in the event of a default. The stable outlook reflects S&P's expectation that J.D. Power's steady organic growth will enable it to maintain adjusted leverage of below 7x over the forecast period. In addition, it incorporates its forecast that the company will generate strong FOCF to debt of more than 5% annually and maintain a sufficiently conservative financial policy to sustain these metrics. J.D. Power, a provider of auto industry data, analytics, and benchmarks, has strongly increased its earnings and cash flow over the last 12 months, in line with S&P Global Ratings' expectations. As of March 31, 2026, the company had reduced its S&P Global Ratings-adjusted leverage to 6.9x and improved its adjusted free operating cash flow (FOCF) to debt to 7%. S&P expects it will further deleverage to 6.6x this year. J.D. Power has successfully reduced its S&P Global Ratings-adjusted leverage below 7x on strong earnings growth. The company's increased earnings have largely stemmed from its improved operating leverage and a favorable shift in its sales mix toward its higher-margin recurring revenue streams. S&P said, "Due to similar factors, we expect J.D. Power will further deleverage to 6.6x this year and 6.2x in 2027. The company's cash flow has benefitted from its earnings growth and reduced borrowing costs following its June 2025 transaction. We expect J.D. Power's FOCF to debt will remain healthy at 6.6% in 2026 before rising to 9.0% in 2027. The company's liquidity remains solid, with over $100 million of cash and full availability under its $150 million revolving credit facility as of March 31, 2026." Strategic shift toward recurring products will support resilient revenue growth despite macroeconomic softness. S&P said, "We forecast J.D. Power will increase its total revenue by the mid-single-digit percent area annually over the next two years, largely due to its vehicle identification number (VIN) ID, valuation & residual, and power information network (PIN) products, given that dealers increasingly rely on data and analytics to adjust their pricing and optimize inventory to deal with softer consumer demand. We expect U.S. light-vehicle sales will decline by 3% this year. While J.D. Power's revenue is not directly correlated with light-vehicle sales, this figure is an indicator of the health of its key end market. Despite the soft automotive market, we expect original equipment manufacturers (OEMs) will continue to rely on access to the company's valuable data to navigate unpredictable supply chain disruptions, higher production costs, and affordability issues. OEM budget constraints have been a greater headwind to the expansion of J.D. Power's non-recurring revenue streams, though the stronger growth in its recurring products will likely continue to more than offset the weakness in its non-recurring revenue. We believe the company's ability to accelerate its revenue growth in the future could come from capturing white space in its other end markets, such as financial services, insurance, utilities, telecom, and healthcare, which--combined--currently account for only about a quarter of its total revenue." Strong market position and proprietary datasets provide a competitive moat against AI disruption. S&P said, "The company's customer base includes all global automotive OEMs and we believe it faces very little competition from other companies. While J.D. Power's strategic investments in new AI-powered client solutions may limit its margin expansion this year, we believe it will capitalize on its dominant market presence to roll out these offerings. Given the company's market position, we expect its internal AI investments will improve its coding efficiency and enable it to deploy new or improved products to the market faster, rather than being disrupted by new entrants." A supportive financial policy is necessary to sustain the current rating. S&P said, "While we expect J.D. Power will remain acquisitive to accelerate its expansion, we believe it will implement a more-cautious approach toward using debt to fund merger and acquisition activity, given its recent Autovista acquisition and the lengthy holding period of its sponsor ownership. We do not believe the company will undertake a debt-funded dividend because this has not been a material part of Thoma Bravo's return strategy for J.D. Power thus far." J.D. Power's strong cash flow generation over the next 24 months will further improve its balance sheet, providing it with ample opportunity to pursue smaller acquisitions using excess cash on hand. S&P said, "The stable outlook reflects our expectation that J.D. Power's steady organic growth will enable it to maintain adjusted leverage of below 7x over the forecast period. In addition, it incorporates our forecast that the company will generate strong FOCF to debt of more than 5% annually and maintain a sufficiently conservative financial policy to sustain these metrics. "We could lower our rating on J.D. Power if its S&P Global Ratings-adjusted leverage rises above 7x and its FOCF to debt declines below 5%." This could occur if: -- The company's sponsor engages in aggressive debt-funded acquisitions or dividends that increase its leverage; or -- Its client retention weakens, due to increased competition or diminishing pricing power, such that its revenue and EBITDA decline. While unlikely over the next 12 months, S&P could raise its rating on J.D. Power if it continues to increase its EBITDA and maintains a financial policy that will enable it to improve its S&P Global Ratings-adjusted leverage and FOCF to debt to below 6x and above 10%, respectively. Under this scenario S&P would expect: -- The company's performance to remain resilient in the face of broad AI-related disruption risks; -- It to continue expanding its recurring revenue base by successfully upselling new products to its existing and new customers while maintaining a high customer retention rate; and -- The company's financial sponsor refrains from undertaking any large leveraging acquisitions or shareholder returns. PROPHASE LABS: Units Reach Tentative Deal to Avoid Chapter 7 Push ----------------------------------------------------------------- Ben Zigterman of Law360 Bankruptcy Authority reports that three ProPhase Labs affiliates that previously operated COVID-19 testing businesses have reached a tentative $900,000 settlement with a creditor seeking to convert their Chapter 11 cases into Chapter 7 liquidations or dismiss them altogether. The agreement represents a significant step toward resolving a key dispute in the bankruptcy proceedings. The creditor maintained that the debtors should no longer remain in Chapter 11, citing concerns about the progress of the cases and the prospects for a successful reorganization. Through negotiations, however, the parties were able to craft a proposed settlement that would address the creditor's objections, the report states. If the bankruptcy court approves the agreement, the debtors will continue their Chapter 11 restructuring efforts instead of facing liquidation under Chapter 7. The settlement is expected to provide greater certainty for the bankruptcy cases while resolving one of the principal contested matters, according to Law360. About ProPhase Diagnostics NJ Inc. ProPhase Diagnostics NJ Inc. develops genomic testing solutions, potential cancer diagnostics and therapeutics, and manufactures and markets consumer health and wellness products. The subsidiaries operate within the diagnostics segment, providing laboratory testing services that were primarily focused on COVID 19 during the pandemic and are now engaged in efforts to recover large insurance receivables tied to those operations. ProPhase Diagnostics NJ Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-19833) on September 22, 2025. In its petition, the Debtor reports estimated assets of $32,287,616 and estimated liabilities of $465,161. Honorable Bankruptcy Judge Christine M. Gravelle handles the case. The Debtor is represented by Thaddeus R. Maciag, Esq. at MACIAG LAW, LLC. About ProPhase Labs Inc. ProPhase Labs Inc. (Nasdaq: PRPH) is a next-generation biotech, genomics and consumer products company. Its mission is to build a healthier world through bold innovation and actionable insight. It is revolutionizing healthcare with industry-leading Whole Genome Sequencing solutions, groundbreaking diagnostic development, such as our potentially life-saving test for the early detection of esophageal cancer, and a world class direct-to-consumer marketing platform for cutting edge OTC dietary supplements. ProPhase develops, manufacture, and commercialize health and wellness solutions to enable people to live their best lives. It is committed to executional excellence, smart diversification, and a synergistic, omni-channel approach. ProPhase Labs' valuable subsidiaries, their synergies, and significant growth underscore its potential for long-term value. PROVIDENTIAL LENDING: Affiliate to Sell Phoenix Property -------------------------------------------------------- American 24, LLC, seeks approval from the U.S. Bankruptcy Court for the District of Arizona, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor's Property is located at 3473 E. Crocus Dr., Phoenix AZ 85032. The Crocus Property consists of an approximately 1,568 square foot single family residence with four bedrooms and one and one-half bathrooms situated in Phoenix, Arizona. The Crocus Property is currently vacant. The Debtor employs Real Estate as the broker to sell the Crocus Property. The Crocus Property has been exposed to the market on multiple occasions throughout the years and has not previously sold. Beginning in October 2022, the Crocus Property was listed for $475,000.00 and the price was reduced to $399,950.00 by December 2022. The Crocus Property did not sell at that time, and the October 2022 listing was removed. The Debtor again attempted to market the Crocus Property in 2025 at a listing price of $485,000.00. After reducing the listing price to $449,000.00, the Debtor removed the listing. The Debtor listed the Crocus Property for sale on May 16, 2026 for $465,000.00, which equates to a listing price of $274.23 per square foot. The median listing price in the 85032 ZIP code is $301.00. On July 4, 2026, the Debtor's real estate broker received an offer to purchase the property for $430,000.00 from Maziar Tokmechin and Reza Tokmechin. The offer proposes a cash purchase price of $430,000.00, a $4,000.00 earnest money payment, a cash down payment of $196,000.00, and a conventional mortgage loan of $230,000.00. The offer proposes a closing date of August 14, 2026. The purchase is conditioned upon the offeror qualifying for the $230,000.00 conventional loan. The Tokmechins are unrelated to the Debtor and to the Debtor's principals. The Debtor submits that the Tokmechins are bona fide, good faith purchasers for value and subject to the protections. The purchase offer does not require the Debtor to pay a specific commission to HomeSmart. The Debtor anticipates that a nominal broker transaction fee will be paid to HomeSmart that is roughly equivalent to the fee paid by the Debtor's principal to his broker. The Debtor proposes to sell the property, outside of the ordinary course of business. The selling price is sufficient to pay off all liens and encumbrances, and therefore the Debtor anticipates that consent of secured creditors is unnecessary. The Debtor proposes that cash proceeds be distributed from escrow directly to lienholders whose claims are secured by the Crocus Property and to taxing authorities who hold unsatisfied tax claims relating to the Crocus Property. The Debtor believes that the proposed buyer is a good faith purchaser. About Providential Lending Services Providential Lending Services, LLC, is a company based in Mesa, Ariz., primarily engaged in renting and leasing properties to residential or commercial tenants. Providential Lending Services sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 25-04020) on May 5, 2025, listing up to $10 million in assets and up to $500,000 in liabilities. John Conover, manager of Providential Lending Services, signed the petition. Judge Brenda K. Martin oversees the case. Joseph G. Urtuzuastegui III, Esq., at The Real Estate Investor Law Firm, LLC, is the Debtor's bankruptcy counsel. REDCOLE PARTNERS: Seeks to Hire Grand Realty as Property Manager ---------------------------------------------------------------- Redcole Partners, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Florida to employ Grand Realty, Inc. as property manager. The firm will manage the Debtor's Real Properties. The firm will receive 10 percent fee on gross rents collected and has agreed to continue charging that amount. Zachary Cooper, a real estate broker at Grand Realty, 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: Zachary Cooper Grand Realty Inc. 4011 Pace Rd. Pace, FL 32571 Telephone: (850) 512-1185 About Redcole Partners LLC Redcole Partners, LLC is a Pace, Florida-based real estate holding or investment entity tied to a residential property in Pace. Redcole Partners, LLC filed for relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Fla. Case No. 26-30477) on May 6, 2026, listing up to $10 million in both assets and liabilities. The Debtor is represented by Byron Wright III, Esq., at Bruner Wright, PA. RELEASE WELL-BEING: Taps Vincent Servello III CPA PC as Accountant ------------------------------------------------------------------ Release Well-Being Center, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Massachusetts to hire Vincent Servello, III, CPA, PC as certified public accountant. The firm will provide these services: (a) assist the company with preparation of tax returns; and (b) provide general consulting as a certified public accountant. The firm will be compensated at these hourly rates: CPA $500 Staff Accountant $250, and Admin $300. According to the accompanying affidavit, the firm has not received a retainer to date and requests a $1,000 retainer to partially cover the foreseen services. All fees and expenses remain subject to final review and approval by the Court. Vincent Servello, III, CPA and each member of his firm are "disinterested persons" as defined in Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Vincent Servello, III, CPA VINCENT SERVELLO, III, CPA, PC 176 E Main Street, Suite 7 Westborough, MA 01581 About Release Well-Being Center, Inc. Founded in 2016, Release Well-Being Center, Inc. operates a holistic wellness center offering massage therapy, yoga, contrast therapy, IV treatments, spa services and other wellness programs. The company expanded into Boston's Back Bay in 2024 and, as of June 2026, remained operational with a workforce of approximately 51 to 200 employees. Release Well-Being Center, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 26-40730) on June 18, 2026. In its petition, the debtor reported estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. The Honorable Elizabeth D. Katz handles the case. The debtor is represented by Michael B. Feinman, Esq., of Feinman Law Office. REMEDIUM PHARMACY: Court Extends Cash Collateral Access to July 23 ------------------------------------------------------------------ Remedium Pharmacy, LLC received interim approval from the U.S. Bankruptcy Court for the District of Massachusetts to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral through the hearing on July 23. The Debtor is ordered to file by July 21 a reconciled budget showing actual to projected income and expenses for the period ending July 18, as well as beginning and ending bank balances monthly, and a projected budget for August, September and October. The deadline for objections is July 21. About Remedium Pharmacy, LLC Remedium Pharmacy, LLC is a Massachusetts-based pharmacy that provides prescription medications, pharmaceutical services, and patient care solutions to individuals and healthcare providers. Remedium Pharmacy, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 26-40803) on July 6, 2026. In its petition, the debtor reported estimated assets and liabilities of $1 million to $10 million. The debtor is represented by David P. Primack, Esq., of Manning Gross & Massenburg LLP. REMEMBER ME SENIOR: PCO Reports No Change in Resident Care ---------------------------------------------------------- Stacy Lynn Archer, the patient care ombudsman, filed with the U.S. Bankruptcy Court for the Eastern District of Tennessee her eighth report regarding the quality of patient care provided by Remember Me Senior Care, LLC. For the period from May 8 to July 8, the PCO reported mixed family feedback regarding staffing at Remember Me, with some expressing concerns about staffing levels and others reporting satisfaction with the care provided. The PCO relayed family concerns to Ashley Howard and Tracy Sneed, sometimes anonymously, and reported elder abuse allegations involving two residents; the employee was dismissed and the matter referred to police and Adult Protective Services. The PCO started her visit on June 4, by visiting all the Houses (1-5). In the kitchens, water and snacks were available should residents need hydration or a treat. The PCO inspected all the laundry and utility rooms in each house. All were in good condition and well stocked with necessary supplies, such as gloves, paper products, and cleaning supplies. Ms. Archer also inspected the medication room in House 1, which contained patient medical records and nursing supplies in addition to each patient's medication. It was also neat and well-stocked. The PCO observed that all common areas were neat and clean. The PCO also visited the storage building and confirmed the emergency supply of food and water. The PCO does not believe that the residents of Remember Me are at risk of harm, and the PCOI believes that the quality of care is consistent with the care that was provided prior to the filing of the bankruptcy petition. Most importantly, the PCO believes the care provided is consistent with the care required by the regulations governing Remember Me established by the State of Tennessee. A copy of the ombudsman report is available for free at https://urlcurt.com/u?l=l6MWN4 from PacerMonitor.com. The ombudsman may be reached at: Stacy Lynn Archer Robinson, Smith & Wells, PLLC 633 Chestnut Street, Suite 700 Chattanooga, TN 37450 Office: (423) 756-5051 Fax: (423) 266-0474 About Remember Me Senior Care LLC Remember Me Senior Care, LLC, a company in Cleveland, Tenn., offers personalized assisted living and memory care services in a homelike environment. The facility provides a range of services, including help with daily activities, medication management, and specialized care for those with Alzheimer's or other dementias. Remember Me Senior Care sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tenn. Case No. 25-10451) on February 18, 2025. In its petition, the Debtor reported up to $50,000 in assets and between $10 million and $50 million in liabilities. Judge Nicholas W. Whittenburg oversees the case. The Debtor is represented by Jeffrey W. Maddux, Esq., at Chambliss, Bahner & Stophel P.C. Stacy Lynn Archer is the patient care ombudsman appointed in the Debtor's case. Stacy Lynn Archer is the patient care ombudsman appointed in the Debtor's case. RIVERLIGHT DEVELOPMENT: Voluntary Chapter 11 Case Summary --------------------------------------------------------- Debtor: Riverlight Development LLC 2535 Jammes Road Jacksonville, FL 32210 Business Description: Riverlight Development, LLC is a real estate company that owns approximately 7.07 acres along NE Indian River Drive in Jensen Beach, Florida, where a mixed-use waterfront development has been proposed. Chapter 11 Petition Date: July 13, 2026 Court: United States Bankruptcy Court Middle District of Florida Case No.: 26-03121 Judge: Hon. Jacob A Brown Debtor's Counsel: Richard A. Perry, Esq. RICHARD A. PERRY P.A. 820 East Fort King Street Ocala, FL 34471-2320 Tel: 352-732-2299 E-mail: richard@rapocala.com Total Assets: $11,000,000 Total Liabilities: $6,884,462 The petition was signed by Jarek Tadla as manager. The Debtor has declared in the petition that it has no unsecured creditors. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/WU6MOUY/Riverlight_Development_LLC__flmbke-26-03121__0001.0.pdf?mcid=tGE4TAMA ROCKY MOUNTAIN: Allen Harper Holds Stake via American Heritage -------------------------------------------------------------- Allen C. Harper, disclosed in a Form 3 filed with the U.S. Securities and Exchange Commission that as of June 30, 2026, he beneficially owns 827,579 shares of Common Stock -- consisting of 17,120 shares held directly and 810,459 shares held indirectly through American Heritage Railways, Inc., in which Allen Harper has a controlling interest -- of Rocky Mountain Chocolate Factory, Inc.'s Common Stock. The filing was made in connection with his role as Interim CEO of the Company. Allen C. Harper may be reached at: Rocky Mountain Chocolate Factory, Inc. 265 Turner Drive Durango, CO 80202 Tel: (970) 259-0554 A full-text copy of Allen C. Harper's SEC report is available at https://tinyurl.com/yrpusns7 About Rocky Mountain Chocolate Factory Durango, Colo.-based Rocky Mountain Chocolate Factory, Inc. is an international franchisor, confectionery producer, and retail operator. Founded in 1981, the Company produces an extensive line of premium chocolate candies and other confectionery products. As of February 28, 2026, the Company had $20.2 million in total assets, $15 million in total liabilities, and $5.2 million in total stockholders' equity. Los Angeles, California-based CohnReznick LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated May 29, 2026, attached to the Company's Annual Report on Form 10-K for the year ended February 28, 2026, citing that the Company has incurred recurring losses and negative cash flows from operations in recent years and is dependent on debt and equity financing to fund its operations, all of which raise substantial doubt about the Company's ability to continue as a going concern. ROYALE ENERGY: Posts $1.25M Loss in FY2025; Going Concern Persists ------------------------------------------------------------------ Royale Energy, Inc. filed its Annual Report on Form 10-K with the U.S. Securities and Exchange Commission for the fiscal year ended December 31, 2025, reporting a net loss of $1.25 million for the year ended December 31, 2025, compared to a net loss of $2.16 million for the year ended December 31, 2024. Total revenues for the year ended December 31, 2025, were $1.95 million, compared to $2.26 million in the prior year. Going Concern BDO USA, P.C. (formerly HORNE LLP) issued a "going concern" qualification in its report dated July 10, 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 working capital deficiency that raise substantial doubt about its ability to continue as a going concern. The Company's 2025 consolidated financial statements reflect a working capital deficiency of approximately $11.55 million, an accumulated deficit of $94.57 million, and recurring net losses from operations. These factors raise substantial doubt about the Company's ability to continue as a going concern. Management's plans to alleviate the going concern include implementing cost control measures through the reduction of overhead costs, the sale of non-strategic assets, and seeking additional debt and/or equity financing. There is no assurance that additional financing will be available when needed or that management will be able to obtain financing on acceptable terms or that the Company will generate positive operating cash flow or become profitable. If the Company is unable to raise sufficient additional funds, it will have to develop and implement a plan to further extend payables and reduce overhead until sufficient additional capital is raised to support further operations. There can be no assurance that such a plan will be successful. Capital Resources and Liquidity At December 31, 2025, Royale had current assets of $10.51 million and current liabilities of $22.06 million, resulting in a working capital deficit of $11.55 million. The Company had cash and cash equivalents of $1.1 million and restricted cash of $7.18 million at December 31, 2025, compared to cash and cash equivalents of $1.88 million and restricted cash of $6.03 million at December 31, 2024. The Company's primary sources of liquidity have historically been issuances of common stock, oil and gas sales through ongoing operations, and the sale of oil and gas properties. Management believes there is doubt that the Company has the ability to meet liquidity demands through cash flow from operations. Accordingly, the Company anticipates its primary sources of liquidity will be the issuance of debt and/or equity, the sale of oil and natural gas property participation interests through its normal course of business, the sale of non-strategic assets, or alternative capital sources through additional sales of equity or debt securities or property sales, which may not be available or on terms the Company deems reasonable. The Company plans to increase oil and gas revenue participation through the drilling and completion of non-operated wells in the Permian Basin in Texas. Working Capital and Operating Highlights At December 31, 2025, other receivables, net, consisting of joint interest billing receivables from direct working interest participants and industry partners, totaled $793,608, compared to $868,429 at December 31, 2024. The decrease was mainly due to lower accounts receivable from payments of Joint Interest Bills by direct working interest owners. Revenue receivable totaled $694,729, compared to $764,653 at December 31, 2024, primarily due to lower uncollected production volumes and commodity prices at year-end 2025. Accounts payable and accrued expenses totaled $6.03 million, compared to $6.97 million at December 31, 2024, mainly due to lower trade payables and lower revenue payables to direct working interest owners. The Company has not engaged in hedging activities and does not use derivative instruments to manage market risks. Cash Flows Operating Activities Cash used in operating activities totaled $2.7 million for 2025, compared to $2.36 million in 2024. The increase in cash used was mainly due to a decrease in accounts payable and accrued expenses resulting from payments made during 2025 and lower revenue payables to direct working interest owners. Investing Activities Net cash provided by investing activities totaled $2.58 million in 2025, compared to $3.34 million in 2024. The decrease was due to cash receipts of approximately $5.6 million in 2025, compared to $8.3 million in 2024, from direct working interest turnkey investments. During 2025, turnkey drilling expenditures were approximately $2.7 million as the Company participated in the drilling and completion of one gross (0.0035 net) well in the Permian Basin. During 2024, turnkey drilling expenditures were approximately $5.1 million as the Company participated in the drilling and completion of four gross (0.0722 net) wells in the Permian Basin. Financing Activities Net cash provided by financing activities totaled $488,387 in 2025, compared to $1,393,377 in 2024. The decrease was primarily due to the receipt of $500,000 during 2025, compared to $1.4 million received during 2024 from the note payable. During the years ended December 31, 2025 and 2024, $11,613 and $6,623, respectively, were used for principal payments on financing lease obligations. A full text copy of the Company's Form 10-K is available at https://tinyurl.com/nyx4dxj7 About Royale Energy, Inc. Royale Energy, Inc. is an independent oil and natural gas producer incorporated under the laws of Delaware. Royale's principal lines of business are the production and sale of oil and natural gas, acquisition of oil and gas lease interests and proved reserves, drilling of both exploratory and development wells, and sales of fractional working interests in wells to be drilled by Royale. Royale was incorporated in Delaware in 2017 and is the successor by merger to Royale Energy Funds, Inc., a California corporation formed in 1983. As of December 31, 2025, the Company had total assets of $17,002,053, total liabilities of $30,393,268, and a stockholders' deficit of $13,391,215. RTB DIGITAL: Completes Founder and Investor Lock-Up --------------------------------------------------- RTB Digital, Inc., formerly Ryvyl Inc., announced in a regulatory filing that following the consummation of the combination on May 12, 2026, the Company has completed its lock-up of shares held by founders and major investors. As of July 13, 2026, the Company has 13,619,997 shares of common stock issued, outstanding, and under issuance instruction. Of the issued and outstanding shares, approximately 15% constitute the public float, and approximately 85% are subject to lock-up arrangements for at least 12 months, to be released incrementally thereafter. The lock-up agreements were voluntarily entered into by the applicable shareholders. About RTB Digital, Inc. RTB Digital, Inc. operates an enterprise digital media SaaS platform, doing business as Roundtable, that enables media brands to distribute, monetize and manage audience communities through AI, Web3 publishing infrastructure and related payment and reporting tools. The company is based in San Diego, California. Independent auditor Simon & Edward, LLP included a going-concern language in its report dated April 15, 2026, stating 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 March 31, 2026, the company reported total assets of $9.9 million, total liabilities of $10.87 million and stockholders' deficit of $972,000. SABLE OFFSHORE: CohnReznick Succeeds HL&B Following Asset Sale -------------------------------------------------------------- Sable Offshore Corp. announced in a regulatory filing that it was notified by its independent registered public accounting firm, Ham, Langston and Brezina, LLP, that it completed a transaction pursuant to which, among other things, CohnReznick LLP acquired certain assets of HL&B. As a result of this transaction, on July 10, 2026, HL&B resigned as the Company's independent registered public accounting firm, and, with the approval of the Audit Committee of the Company's Board of Directors, CohnReznick was engaged as the Company's new independent registered public accounting firm for the fiscal year ending December 31, 2026. The audit reports of HL&B on the Company's consolidated financial statements as of December 31, 2025 and 2024, for the year ended December 31, 2025 (Successor), the period from February 14, 2024 to December 31, 2024 (Successor), the period from January 1, 2024 to February 13, 2024 (Predecessor), and the year ended December 31, 2023 (Predecessor), did not contain an adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles, except that such reports contained an explanatory paragraph regarding the Company's ability to continue as a going concern. During the years ended December 31, 2025 and 2024, and the subsequent interim period through July 10, 2026, there were no (a) disagreements within the meaning of Item 304(a)(1)(iv) of Regulation S-K with HL&B on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which, if not resolved to HL&B's satisfaction, would have caused HL&B to make reference to the subject matter of the disagreement in connection with HL&B's reports on the Company's financial statements, or (b) reportable events requiring disclosure pursuant to Item 304(a)(1)(v) of Regulation S-K. During the years ended December 31, 2025 and 2024, and the subsequent interim period through July 10, 2026, neither the Company, nor anyone on its behalf consulted with CohnReznick regarding either: (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company's financial statements, and neither a written report nor oral advice was provided to the Company that CohnReznick concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue; or (ii) any matter that was either the subject of a "disagreement," as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions to that item, or a "reportable event," as described in Item 304(a)(1)(v) of Regulation S-K. HL&B has furnished the Company with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the statements. A copy of HL&B's letter to the Commission, dated July 10, 2026, is available at https://tinyurl.com/52ky3wne 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. SANGAMO THERAPEUTICS: Bid Rules for Medical Biz Asset Sale OK'd --------------------------------------------------------------- The U.S. Bankruptcy Court for the District of Delaware has granted Sangamo Therapeutics Inc. to conduct bidding procedures for the sale of substantially all Assets, free and clear of liens, claims, interests, and encumbrances. The Debtor is a genomic medicine company committed to translating ground-breaking science into medicines that transform the lives of patients and families afflicted with serious neurological diseases. The Debtor's Assets include: proprietary gene delivery vehicles, including STAC-BBB and related next-generation variants; the Company's proprietary capsid receptors and related technology; its core technology platforms, including its zinc finger protein technology platform, its Modular Integrase genome editing platform, and its novel engineered AAV capsid engineering platform known as SIFTER; a pipeline of clinical and preclinical programs, including its wholly owned ST-920 gene therapy for Fabry disease, ST-506 investigational therapy for Prion disease, and ST-503 investigational therapy for small fiber neuropathy; licenses, partnered programs, and collaboration agreements with strategic partners, including Genentech, Astellas, Lilly, Alexion, and Takeda; and a portfolio of other intellectual property comprised of approximately 110 patent families directed to the design, compositions, and uses of zinc finger proteins and other related technologies. The Court has authorized the Debtor to conduct the bidding procedure. The Debtor has articulated good and sufficient reasons for the Court to approve the Bidding Procedures. The Bidding Procedures are fair, reasonable and appropriate and are designed to maximize the value to be received by the Debtor's estate and creditors. The Merope Stalking Horse APA was entered into in good faith between the Debtor, the Merope Stalking Horse Bidder, and Lilly, and is the result of arm's-length negotiations between the parties, each of whom are represented by sophisticated counsel. The Debtor's entry into the Merope Stalking Horse APA represents a reasonable exercise of the Debtor's business judgment and is in the best interests of the Debtor's estate, its creditors, and all other parties in interest. The Astellas Stalking Horse APA was entered into in good faith between the Debtor and the Astellas Stalking Horse Bidder and is the result of arm's-length negotiations between the parties, each of whom are represented by sophisticated counsel. The Debtor has demonstrated a compelling business justification for providing the Bid Protections to the Stalking Horse Bidders on the terms set forth in each Stalking Horse APA. The Bidding Procedures shall govern the submission, receipt and analysis of all Bids, and any party desiring to submit a higher or better offer shall do so strictly in accordance with the terms of the Order and the Bidding Procedures. The Sale Hearing shall commence on August 20, 2026 at 10:00 a.m. (prevailing Eastern Time) before the Honorable Craig T. Goldblatt, at the Court, 824 North Market Street, 3rd Floor, Courtroom No. 7, Wilmington, Delaware 19801. he Bid Deadline by which all Bids for the Assets must be actually received by the parties specified in the Bidding Procedures is August 4, 2026, at 5:00 p.m. (prevailing Eastern Time). August 10, 2026, at 10:00 a.m. (prevailing Eastern Time), is the date and time of the Auction, if one is needed. About Sangamo Therapeutics Inc. Sangamo Therapeutics Inc. is a biotechnology firm specializing in genome engineering and gene therapy research. It is best known for its zinc finger nuclease platform, which is designed to modify genes to treat inherited and rare diseases. Sangamo Therapeutics Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 26-10989) on June 23, 2026. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million. Honorable Bankruptcy Judge Craig T. Goldblatt handles the case. The Debtor is represented by Kristin Cunningham, Esq. of Richards, Layton & Finger. SEARLES VALLEY: U.S. Trustee Objects to Adviser Releases in Ch. 11 ------------------------------------------------------------------ Clara Geoghegan of Law360 Bankruptcy Authority reports that the Department of Justice's U.S. Trustee has asked a Delaware bankruptcy judge to reject Searles Valley Minerals' bid to retain Ankura as its restructuring adviser unless revisions are made to the firm's engagement letter. The watchdog contends the agreement grants the adviser overly expansive releases and liability protections. The trustee asserted that the engagement terms exceed what bankruptcy courts typically approve for estate professionals and could improperly restrict the estate's ability to pursue claims if disputes later arise. The office argued that bankruptcy professionals must remain subject to appropriate judicial oversight and accountability, the report relays. The objection does not challenge Ankura's qualifications but instead focuses on the contractual language governing its employment. The bankruptcy court will determine whether the engagement letter must be revised before the adviser can be formally retained, according to Law360. About Searles Valley Minerals Searles Valley Minerals operates mining and processing facilities that produce a variety of mineral products for industrial, agricultural, and commercial customers. Its portfolio includes soda ash, boron-based products, sodium sulfate, and other specialty minerals derived from California's Searles Lake. Searles Valley Minerals sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 26-10966) on June 15, 2026. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. Honorable Bankruptcy Judge Brendan Linehan Shannon handles the case. The Debtor is represented by Laura Davis Jones, Esq. of Pachulski, Stang, Ziehl & Jones LLP. SEATON INVESTMENTS: To Sell LA Property to Di Nalli Consulting -------------------------------------------------------------- Seaton Investments LLC and its affiliates, and Alan Gomperts, seek permission from the U.S. Bankruptcy Court for the Central District of California, Los Angeles Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor's property to be sold consists of the Debtor's right, title, and interest in residential real property located at 3538 Greenfield Avenue, Los Angeles, California 90034, which is a single family residence. The Debtor wishes to sell the Property to Di Nalli Consulting, LLC, or its assignee for $1,449,000.00. The terms and conditions of the sale are that the Property is being sold "as is," "where is," "with all faults," with no warranty by or recourse whatsoever, subject to higher and better bids for $1,449,000.00. The lienholder of the Property are Wells Fargo Bank and Archway Real Estate Income Fund I SPE I, LLC. The proposed sale is subject to higher and better bids. The Debtor also seeks authority from the Court to pay total commissions to the brokers through escrow aggregating 5% of the selling price for the Property made payable only upon the close of sale. The commission will be reduced to 3.5% in the event there are no other agents involved. The seller's broker is United Real Estate Professionals, through its agent Ben Kanani (Broker). The Debtor has separately filed an application to employ the Broker. The buyer’s broker is represented by Beverly & Co. The Debtor estimates that there will be no federal or state capital gains tax consequences as a result of the proposed sale. About Seaton Investments Seaton Investments, LLC, is a Single Asset Real Estate debtor (as defined in 11 U.S.C. Section 101(51B)). Seaton Investments filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 24-12079) on March 19, 2024, listing $10 million to $50 million in both assets and liabilities. The petition was signed by Alan D. Gomperts as managing member. Judge Vincent P. Zurzolo presides over the case. Derrick Talerico, Esq., at Weintraub Zolkin Talerico & Selth, LLP, is the Debtor's legal counsel. SEPI REALTY: Employs Northgate Real Estate Group as Advisor ----------------------------------------------------------- SEPI Realty LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to employ Northgate Real Estate Group as real estate advisor. The firm will provide these services: (a) market and sell, arrange refinancing for, or otherwise dispose of the Defendant's property located at 45 West 70th Street, New York, NY 10023 on such terms as are acceptable to the company; (b) negotiate the business terms of each purchase and sale agreement on behalf of the company, subject to the company's review and approval; and (c) cooperate with other licensed real estate brokers representing purchasers subject to the terms of the Retention Agreement. The firm will be paid at these rates: (i) a 6% commission if the Property is sold; (ii) a 4% commission if the lender is the successful purchaser by credit bid; (iii) a 6% buyer's premium if an assignee of the lender not affiliated with the lender is the successful purchaser; and (iv) a 4% fee if the Property is the subject of a Resolution, including refinancing or restructuring. All compensation remains subject to Bankruptcy Court approval of Northgate's fee application. Northgate is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code, as modified by Section 1107(b) of the Bankruptcy Code, and does not hold or represent an interest adverse to the company or its estate, according to court filings. The firm can be reached at: Greg Corbin President NORTHGATE REAL ESTATE GROUP 1633 Broadway, 46th Floor New York, NY 10019 About Sepi Realty LLC Sepi Realty LLC is a real estate company engaged in property ownership, investment, and management activities. Sepi Realty LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11120) on May 15, 2026. In its petition, the Debtor reports estimated assets between $10 million and $50 million and estimated liabilities between $10 million and $50 million. Judge Lisa G Beckerman oversees the case. The Debtor is represented by Julio E. Portilla, Esq. of Law Office Julio E. Portilla, P.C. SEPI REALTY: Hires Law Office of Julio E. Portilla as Counsel ------------------------------------------------------------- Sepi Realty LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to hire the Law Office of Julio E. Portilla, P.C. to serve as bankruptcy counsel. The firm will provide these services: (a) provide legal advice regarding the Debtor's powers and duties under the Bankruptcy Code for the ongoing operation of its business and the management of its property; (b) negotiate, draft, and pursue all documentation necessary for the Chapter 11 case, including Debtor-in-possession financing arrangements and the disposition of assets; (c) prepare applications, motions, answers, orders, reports, and other legal documents necessary for the administration of the estate; (d) negotiate with creditors, prepare a reorganization plan, and take the necessary legal steps to implement that plan, including negotiations related to plan financing; (e) appear in court and safeguard the interests of the company before the court; (f) attend meetings and negotiate with representatives of creditors, the United States Trustee, and other interested parties; (g) provide legal advice on bankruptcy law, corporate law, corporate governance, tax, litigation, and other matters related to the company's business operations; (h) take all necessary actions to protect and preserve the estate, including prosecuting actions, defending against actions commenced against the company, representing the company in litigation negotiations, and handling objections to claims; and (i) perform other legal services and provide necessary legal advice required in the Chapter 11 case or otherwise requested by the company and reasonably acceptable to the firm. The principal attorney's hourly rate ranges from $475 to $575, while paralegals will bill at $125 per hour. The firm also received an advance payment retainer of $8,500, of which $1,738 was applied toward the Chapter 11 filing fee. The Law Office of Julio E. Portilla, P.C. 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: Julio E. Portilla, Esq. LAW OFFICE OF JULIO E. PORTILLA, P.C. 380 Lexington Avenue, Suite 446 New York, NY 10168 Telephone: (212) 365-0292 Facsimile: (212) 365-4417 About Sepi Realty LLC Sepi Realty LLC is a real estate company engaged in property ownership, investment, and management activities. Sepi Realty LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11120) on May 15, 2026. In its petition, the Debtor reports estimated assets between $10 million and $50 million and estimated liabilities between $10 million and $50 million. Judge Lisa G Beckerman oversees the case. The Debtor is represented by Julio E. Portilla, Esq. of Law Office Julio E. Portilla, P.C. SHORT PAR 4: Court Extends Cash Collateral Access to July 22 ------------------------------------------------------------ Short Par 4 LLC received interim approval from the U.S. Bankruptcy Court for the Middle District of Florida to use cash collateral. Under the interim order, the Debtor is permitted to use cash collateral for court-authorized payments including U.S. Trustee fees; operating expenses listed on its approved budget, with flexibility of up to 10% for each budget category; and additional payment subject to approval by Itria Ventures LLC, a secured creditor. As adequate protection, Itria will be granted a perfected post-petition lien against cash collateral to the same extent and with the same validity and priority as its prepetition lien, without the need to file or execute any document as may otherwise be required under applicable non bankruptcy law. In addition, Itria will receive weekly payments in the amount of $12,500, retroactive to the petition date. A continued hearing is scheduled for July 22. A copy of the court's order and the Debtor's budget is available at https://urlcurt.com/u?l=IbVuvK from PacerMonitor.com Short Par 4 operates a nationwide subscription model in which members receive curated monthly golf apparel and accessories selected according to individual preferences, along with access to an online retail platform and in-house branded merchandise. The Debtor's secured debt primarily consists of obligations to merchant cash advance lenders rather than traditional bank financing. The two identified funders are Itria Ventures LLC, with an approximate claim of $525,000, and Shopify Capital Inc., with an approximate claim of $177,891, for a total of about $702,891 in secured indebtedness as of the petition date. These funders assert interests in the Debtor's accounts receivable and related cash flows, which constitute cash collateral under 11 U.S.C. Section 363(a). The Debtor also notes a prepetition settlement agreement with Itria requiring ongoing weekly payments of $12,500, which it characterizes as part of a senior secured structure, and proposes to continue those payments during the Chapter 11 case. Shopify Capital is described as a purported junior lienholder, but the Debtor asserts that its lien may be unperfected due to the absence of a filed UCC-1 financing statement. At the time of filing, the Debtor reported approximately $165,422 in cash on hand, about $1.5 million in inventory, and roughly $531,927 in pending merchant receivables from subscription renewals billed on June 1, which were expected to be collected shortly thereafter. These receivables and related cash flows are central to the cash collateral dispute, as the funders claim security interests in them. About Short Par 4 LLC Short Par 4, LLC is a Florida corporation founded in 2014 by Robert DiMeo and Martin Haas. Based in leased space in Bradenton, Florida, the company operates a membership-based golf subscription service that provides services including curated monthly deliveries of golf lifestyle apparel and related products to customers nationwide. Under its model, clothing and accessories from established brands are selected based on individual member preferences, and members receive mailed boxes containing the selected items. Members may also purchase additional brand-name gear through an exclusive online store. The company also develops in-house golf apparel brands. Short Par 4 sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-04747) on June 2, 2026, with $1 million to $10 million in both assets and liabilities. Judge Caryl E. Delano presides over the case. Matthew B. Hale, Esq. at Stichter, Riedel, Blain & Postler, represents the Debtor as legal counsel. SILICON VALLEY: Court Told BlackRock's Guidance Was Disregarded --------------------------------------------------------------- Bonnie Eslinger of Law360 Bankruptcy Authority reports that Silicon Valley Bank failed to act on recommendations from BlackRock's advisory arm that it scale back its long-term mortgage-backed securities portfolio, according to testimony from the bank's former treasurer Tuesday, July 14, 2026. The testimony was heard in a California federal court trial involving claims that SVB executives mismanaged assets before the bank's collapse. The former treasurer said BlackRock had provided guidance aimed at reducing the bank's exposure to interest-rate risk, but SVB did not make the recommended changes. The issue has become a central point in the FDIC's effort to show that the bank's leadership failed to adequately manage its investment risks. The former SVB treasurer defended the actions of the bank's executives, saying he never observed decisions he considered reckless or harmful to the institution. The trial will determine whether former leaders can be held liable for alleged failures that contributed to SVB's downfall, the report relays. About Silicon Valley Bank Silicon Valley Bank was the nation's 16th largest bank and the biggest to fail since the 2008 financial meltdown. During the week of March 6, 2023, Silicon Valley Bank, Santa Clara, CA, experienced a severe "run-on-the-bank." On the morning of March 10, 2023, the California Department of Financial Protection and Innovation seized SVB and placed it under the receivership of the Federal Deposit Insurance Corporation (FDIC). The FDIC on March 13, 2023, disclosed that it transferred all deposits -- both insured and uninsured -- and substantially all assets of the former Silicon Valley Bank of Santa Clara, California, to a newly created, full-service FDIC-operated "bridge bank" in an action designed to protect all depositors of Silicon Valley Bank. SVB Financial Group is a financial services company focusing on the innovation economy, offering financial products and services to clients across the United States and in key international markets. Prior to March 10, 2023, SVB Financial Group owned and operated Silicon Valley Bank, a state-chartered bank. On March 17, 2023, SVB Financial Group sought Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Case No. 23-10367). The Hon. Martin Glenn is the bankruptcy judge. The Debtor had assets of $19,679,000,000 and liabilities of $3,675,000,000 as of Dec. 31, 2022. Centerview Partners LLC is proposed financial advisor, Sullivan & Cromwell LLP proposed legal counsel and Alvarez & Marsal proposed restructuring advisor to SVB Financial Group as debtor-in-possession. Kroll is the claims agent. On June 13, 2023, a collective of depositors of the Silicon Valley Bank (Cayman Islands Branch) filed a petition with the Court seeking an order that SVB Cayman be wound up and liquidators be appointed under the provisions of the Companies Act (2023 Revision) on the grounds that the Company is insolvent. On June 29, 2023, the Grand Court of the Cayman Islands appointed Andrew Childe and Michael Pearson of FFP limited in the Cayman Islands and Niall Ledwidge from Stout in New York, United States as Joint Official Liquidators of SVB Cayman. Liquidators of Silicon Valley Bank (Cayman Islands) filed a Chapter 15 bankruptcy petition (Bankr. S.D.N.Y. Case No. 24-10076) on Jan. 18, 2024. The Liquidators' counsel in the U.S. case is Warren E. Gluck, Esq. at Holland & Knight LLP. SILVERMAN CHIROPRACTIC: Case Summary & 16 Unsecured Creditors ------------------------------------------------------------- Debtor: Silverman Chiropractic & Rehabilitation 946 SW 82nd Avenue Miami, FL 33144 Business Description: Silverman Chiropractic and Rehabilitation provides chiropractic care, accident injury rehabilitation, pain management, wellness programs, and personalized treatment planning. The center treats patients with injuries associated with car accidents, slip-and-fall incidents, sports activities, and spinal conditions. It also offers transportation to and from its clinics, with locations listed across several Florida cities, including Miami, Hialeah, Miramar, Hollywood, Doral, Kendall, Orlando, and Fort Lauderdale. Chapter 11 Petition Date: July 8, 2026 Court: United States Bankruptcy Court Southern District of Florida Case No.: 26-18936 Debtor's Counsel: Thomas L. Abrams, Esq. THOMAS L ABRAMS PA 1213 SE 3rd Avenue Fort Lauderdale, FL 33316 Tel: (954) 523-0900 Email: tabrams@tabramslaw.com Total Assets: $853,703 Total Liabilities: $2,952,385 The petition was signed by Mark Silverman as president. 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/RVNPBQY/Silverman_Chiropractic__Rehabilitation__flsbke-26-18936__0001.0.pdf?mcid=tGE4TAMA SILVERMAN CHIROPRACTIC: Seeks to Tap Gamberg & Abrams as Counsel ---------------------------------------------------------------- Silverman Chiropractic & Rehabilitation Center, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to hire Thomas L. Abrams, Esq. and his law firm of Gamberg & Abrams as general bankruptcy counsel. The firm will provide these services: (a) advise the Debtor with respect to its powers and duties in the continued management and operation of its business and properties; (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; (c) advise the Debtor on matters relating to the evaluation of the assumption, rejection or assignment of unexpired leases and executory contracts; (d) provide advice with respect to legal issues arising in or relating to the Debtor's ordinary course of business; (e) take all necessary action to protect and preserve the estate, including prosecuting and defending actions, negotiating litigation matters and objecting to claims; (f) prepare all motions, applications, answers, orders, reports and papers necessary to the administration of the estate; (g) negotiate and prepare a plan of reorganization, disclosure statement and related documents, and take all necessary action to obtain confirmation of the plan; (h) attend meetings with third parties and participate in negotiations; (i) appear before the Court, appellate courts and the U.S. Trustee and protect the estate's interests; and (j) perform all other necessary legal services and provide all other necessary legal advice in connection with the Chapter 11 case. The firm will be paid at these rates: Thomas L. Abrams $600 Jared L. Gamberg $500 and paralegals $200. Gamberg & Abrams received a $32,000 retainer, of which $22,298 has been applied to pre-petition services and the filing fee, leaving $9,702 in the firm's trust account. The firm will seek compensation subject to court approval. According to court filings, Gamberg & Abrams is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code and does not hold or represent any interest adverse to the estate. The firm can be reached at: Thomas L. Abrams, Esquire GAMBERG & ABRAMS 1213 S.E. Third Avenue, Second Floor Fort Lauderdale, FL 33316 Telephone: (954) 523-0900 E-mail: tabrams@tabramslaw.com About Silverman Chiropractic & Rehabilitation Silverman Chiropractic & Rehabilitation is a Miami, Florida-based healthcare provider specializing in chiropractic care, auto accident treatment, and post-accident rehabilitation services. The practice operates multiple clinics across South Florida, including locations in Plantation, Hialeah, Miami, and Doral. Silverman Chiropractic & Rehabilitation sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-18936) on July 8, 2026. In its petition, the debtor reported estimated assets of $500,000 to $1 million and estimated liabilities of $1 million to $10 million. The debtor is represented by Thomas L. Abrams, Esq. SLEEP NUMBER: BlackRock Ceases Ownership of Common Stock -------------------------------------------------------- BlackRock, Inc., disclosed in a Schedule 13G (Amendment No. 9) filed with the U.S. Securities and Exchange Commission that as of June 30, 2026, it no longer beneficially owns any shares of Sleep Number Corporation's Common Stock. BlackRock, Inc. may be reached through: Spencer Fleming 50 Hudson Yards New York, NY 10001 Tel: (212) 810-5800 A full-text copy of BlackRock, Inc.'s SEC report is available at https://tinyurl.com/5n8bsn5c About Sleep Number Corp. Sleep Number Corporation, formerly Select Comfort Corporation, is a Minneapolis, Minnesota-based company founded in 1987. The company offers mattresses and bases, including smart mattresses with adjustable firmness, digital sensing, automatic comfort adjustments, and temperature-control features. Sleep Number uses a direct-to-consumer distribution model through Sleep Number stores and online retail touchpoints, and provides home delivery and professional set-up services. The company operates 572 stores in 50 U.S. states and employs approximately 2,920 employees. Sleep Number Corporation sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-11399) on June 12, 2026. In its petition, the Debtor reports total assets of approximately $642.32 million and total debts of approximately $1.28 billion as of April 30, 2026. The Honorable Bankruptcy Judge Kyu Young Paek handles the case. Davis Polk & Wardwell LLP is serving as Sleep Number's legal advisor in the restructuring. The company also retained Guggenheim Securities, LLC as investment banker, A&G Real Estate Partners as real estate advisors, and Kroll Restructuring Administration LLC as claims, noticing, solicitation, and administrative agent. SLM CORP: Moody's Alters Outlook on 'Ba1' Issuer Rating to Stable ----------------------------------------------------------------- Moody's Ratings has affirmed all of the ratings and assessments of SLM Corporation (SLM) and its bank subsidiary, Sallie Mae Bank. SLM's ratings include long-term issuer and senior unsecured debt ratings of Ba1, a senior unsecured shelf rating of (P)Ba1, a preferred stock non-cumulative rating of Ba3 (hyb) and a preferred shelf non-cumulative rating of (P)Ba3. Sallie Mae Bank's ratings include a Baseline Credit Assessment (BCA) and adjusted BCA of baa3, a long-term issuer rating of Ba1, long- and short-term bank deposit ratings of Baa1/Prime-2, long- and short-term Counterparty Risk Ratings of Baa3/Prime-3, and long- and short-term Counterparty Risk Assessments of Baa2(cr)/Prime-2(cr). The outlooks on SLM's long-term issuer and senior unsecured debt ratings have been changed to stable from negative. The outlooks on Sallie Mae Bank's long-term issuer and long-term bank deposit ratings remain stable. RATINGS RATIONALE The affirmation of SLM's and Sallie Mae Bank's ratings, including Sallie Mae Bank's baa3 BCA, reflects the company's strong franchise as the leading originator and servicer of private student loans in the US with a dominant market share of more than 60%, high profitability relative to other rated banks, and solid capital and liquidity positions at Sallie Mae Bank. SLM's return on tangible assets was 4.2% (annualized) in Q1 2026 and 2.5% for all of 2025, considerably above US regional banks that average around 1.0%. Supporting its strong profitability has been SLM's demonstrated ability to execute loan sales under varying market conditions over the past several years, which has led to more moderate asset growth despite strong loan origination growth, reducing its capital and deposit funding needs. The BCA also reflects the risks to creditors stemming from SLM's concentration in the student loan origination business, the longer duration and unique structural features of student loans that have resulted in volatility in loan credit performance over time, a funding structure that is highly reliant on brokered deposits and securitization, and high regulatory and legislative risks for higher education and student loans that could directly or indirectly impact its financial performance. The bank's loan credit performance has remained fairly stable over the past year, although gross charge-offs on loans entering full repayment have been rising over the past several years relative to pre-pandemic levels. Over the past few years, management implemented several enhancements to its loan modification and forbearance programs to support borrowers through periods of stress including those first entering the workforce. While there have been good initial results of borrowers making payments in the months following a loan modification and for borrowers now exiting loan modifications, a longer assessment period is needed to assess whether loan modifications and forbearance will lead to better long-term credit outcomes rather than deferring charge-offs. Additionally, downside risks for private student loans' asset quality remain elevated because of several factors. These include the negative impact on borrower discretionary income from the resumption of federal student loan repayments after a pandemic-induced pause, a more challenged job market for new college graduates, adverse changes to income-based payment programs on federal student loans that go into effect on 1 July 2026, and the resumption of wage garnishment by the federal government on defaulted federal student loans. Moody's expects a significant growth opportunity in student loan originations for SLM over the next few years following the legislation passed in July 2025 that eliminated the federal GradPlus loan program and implemented more restrictions to federal PLUS loans that began to phase in on July 01, 2026. SLM also entered into its first forward flow agreement in November, with KKR having committed to purchase $2 billion of student loans from SLM per year over a three-year period. Management has indicated it expects to enter into additional forward flow arrangements later this year and beyond, with the expectation the forward flow structure will provide it additional funding and capital flexibility to manage the growth in loan volumes, while also providing it with a more predictable, recurring form of revenue. While it will depend on the specific terms of each forward flow agreement and how well they are executed through market cycles, Moody's believes forward flow structures have the potential to be credit positive over time. Moody's views SLM's funding structure as a credit strength. Despite an above-average reliance on brokered deposits, which Moody's believes to be more price sensitive and less stable than retail deposits, over 90% of Sallie Mae Bank's deposits are FDIC insured providing overall funding stability. While SLM maintains strong liquidity in the form of cash and liquid securities amounting to 24% of total assets on a consolidated basis as of Q1 2026, the parent company's liquidity is considerably less robust and access to contingent liquidity aside from Sallie Mae Bank is limited. Moody's changed the outlook on SLM's long-term issuer and senior unsecured debt ratings to stable from negative, reflecting a decline in double leverage to around 135% as of the end of 2025, and Moody's expectations that it will continue to decline to under 120% over the next 12-18 months. In order to achieve this, Moody's expects that dividends to the parent company from the bank over the next several quarters to exceed shareholder distributions and for a portion of new revenues derived from its forward flow agreements to flow directly to the holding company or nonbank subsidiaries of the holding company, providing an additional source of liquidity to the parent. Additionally, over the past year the company was able to refinance its two $500 million senior unsecured bonds and extend its debt maturities until 2030 and 2032, reducing near-term refinance risk. The stable outlook on Sallie Mae Bank's long-term issuer and long-term bank deposit ratings remains unchanged and reflect Moody's expectations of continued strong profitability relative to other US banks and net charge-offs as a percentage of loans in repayment remaining fairly consistent with recent performance. The stable outlook also reflects Moody's expectations that Sallie Mae Bank will maintain robust liquidity and regulatory capital ratios that are near current levels. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS SLM's ratings and Sallie Mae Bank's ratings and BCA could be upgraded if the company is able to demonstrate more stable earnings from its forward flow agreements over time, improves its funding profile by reducing its dependence on brokered deposits, and increases liquidity levels and contingent liquidity available at the parent while maintaining stable loan credit performance and tangible common equity to risk-weighted assets above 10.5%. A higher BCA would likely lead to an upgrade of SLM's and Sallie Mae Bank's ratings absent any meaningful changes to its funding structure. SLM's long-term issuer and senior unsecured debt ratings could be downgraded if the company is unable to reduce double leverage at the parent company below 125% over the next 18 months. SLM's ratings could also be downgraded if Sallie Mae Bank's BCA is downgraded. Sallie Mae Bank's BCA and ratings could be downgraded if its capitalization on a consolidated basis declines meaningfully over multiple quarters. In addition, the BCA could be downgraded if loan credit performance and profitability is materially weaker than Moody's expects or if its sources of funding become overly concentrated or less stable, making the bank more vulnerable to market shocks. The principal methodology used in these ratings was Banks published in November 2025. SLM's bank subsidiary's "Assigned BCA" score of baa3 is set two notches below the "Financial Profile" initial score of baa1 to reflect its business concentration in student loans, adjustments to its problem loan ratio to include loans in forbearance and exclude loans not in full principal repayment, and earnings volatility. SLX - I DRIVE: Claims to be Paid from Property Sale Proceeds ------------------------------------------------------------ SLX - I Drive, LLC filed with the U.S. Bankruptcy Court for the Middle District of Florida a Disclosure Statement in support of Plan of Liquidation dated July 7, 2026. The Debtor is a Florida limited liability company and fee simple owner of a vacant approximately three-acre development site at 6603 International Drive, Orlando, Florida 32819 (the "Property"). The Property is entitled for a 272-unit, 8-story market-rate multifamily property with a structured parking garage and approximately 14,000 square feet of ground-floor commercial space. The Property was appraised at $6,530,000 (as-is land value) by Colliers International and at $16,450,000 (as-is market value) by Apprise Walker & Dunlop. Upon consent of the parties at the hearing held on June 23, 2026, the Debtor agreed to file its liquidating plan to preserve the value of the Property and facilitate an orderly court-supervised sale of same. The filing was necessitated by the Debtor's inability to service its obligations to Benworth Capital Partners PR LLC, its first mortgage lender, which led to a foreclosure proceeding which has been stayed by the filing of the Chapter 11 case. The Debtor is in the process of engaging Fisher Auction Company as Auctioneer for the Sale. Fisher is a nationally recognized auction house specializing in court-supervised bankruptcy real estate sales. The Debtor will file an application to retain Fisher under 11 U.S.C. Section 327(a). The sixty-day Marketing Period commences upon Court approval of Fisher's employment. Class 3 consists of all General Unsecured Claims. The allowed unsecured claims total $986,432.34. This Class shall receive Pro Rata share of Net Sale Proceeds after Classes 1 and 2. This Class is impaired. Pursuant to Section 5.05 of the Plan, Net Sale Proceeds shall be distributed in the following order of priority: * First: All real property taxes (2024, 2025, and 2026 proration) - paid at Closing as a condition of conveying clear title under Florida Statutes Section 197.122. * Second: All Allowed Administrative Claims, including Debtor's Counsel fees (est. $100,000), Fisher marketing budget ($20,000, paid from Sale proceeds), and U.S. Trustee fees. If a Stalking Horse Bid is approved and a break-up fee is authorized, the break-up fee shall be paid concurrently with Administrative Claims from cash Sale proceeds only; no break-up fee is payable if the Successful Bidder credit bids. * Third: The Allowed Class 1 Benworth Secured Claim (filed at $6,438,302.53, subject to dispute, continuing to accrue interest through Closing). * Fourth: Pro Rata distribution to Holders of Allowed Class 3 General Unsecured Claims (-$986,432.34 known amounts, plus TBD scheduled claims). * Fifth: Pro Rata distribution to Holders of Class 4 Equity Interests (only if all prior Classes paid in full) A full-text copy of the Disclosure Statement dated July 7, 2026 is available at https://urlcurt.com/u?l=dcPxDu from PacerMonitor.com at no charge. About Slx - I Drive LLC Slx - I Drive, LLC, is a Florida-based business involved in commercial operations and property-related activities connected to the International Drive corridor. The company manages business and operational assets associated with hospitality and retail-oriented developments. Slx - I Drive, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-03078) on April 28, 2026. In its petition, the Debtor listed assets between $1 million and $10 million and estimated liabilities in the same range. Judge Grace E. Robson oversees the case. Proposed Counsel for the Debtor: Melissa A. Youngman, Esq. Winter Park Estate Plans & ReOrgs 2431 Aloma Ave., Suite 124 Winter Park, Florida 32792 Tel: 407-765-3427 E-mail: my@melissayoungman.com SMALL BUSINESS: Faces Possible Receivership Due to Rising Loan Risk ------------------------------------------------------------------- James Dornbrook of Kansas City Business Journal reports that the Federal Reserve System has classified Small Business Bank as significantly undercapitalized and ordered the Lenexa, Kansas-based institution to correct the condition within 30 days. Regulators warned that failure to comply could lead to stronger enforcement actions, including possible leadership changes or receivership. The bank did not appear to have capital problems in its March 31 regulatory filing, which showed a 14.01% Tier 1 Risk-Based Capital Ratio. Federal banking rules require banks to maintain at least a 6% ratio, while institutions with ratios of 8.5% or higher are generally considered well-capitalized. The deterioration appears to have occurred after the first-quarter reporting date, the report cites. Financial information showed that Small Business Bank had $72.95 million in assets and significant credit concerns. The bank reported $2.97 million in non-accrual loans, $6.89 million in loans overdue between 30 and 89 days, and a $783,000 quarterly loss. The institution held $1.81 million in loan loss reserves and $3.55 million in equity capital, according to report. Under the Federal Reserve's order, the bank must raise capital or seek a sale to another adequately capitalized institution. Regulators have also restricted expansion activities, deposit practices and executive compensation. The action follows earlier regulatory findings in 2023 and 2024 involving deficiencies in lending practices, internal controls, liquidity management, information security, risk management and anti-money laundering compliance. About Small Business Bank Small Business Bank is a community-focused lender specializing in financing solutions for small and midsize businesses. The bank offers commercial lending products, including Small Business Administration (SBA) loans, business acquisition financing and other credit solutions tailored to entrepreneurs. Its operations are centered on providing capital access to businesses seeking expansion, refinancing or working capital support. SMILES DENTISTRY: Court Directs U.S. Trustee to Appoint PCO ----------------------------------------------------------- Judge Erik Kimball of the U.S. Bankruptcy Court for the Southern District of Florida directed the U.S. Trustee for Region 21 to appoint a patient care ombudsman for Smiles Dentistry, PA. The bankruptcy judge finds that the provisions of Section 333(a)(1) of the Bankruptcy Code for appointment of a patient care ombudsman apply to Smiles Dentistry after having filed its bankruptcy petition, indicating that it operates a health care business. Bankruptcy Rule 2007.2(a) further provides that "the court shall order the appointment of a patient care ombudsman under Section 333 of the Code, unless the court, on motion of the U.S. trustee or a party in interest filed no later than 21 days after the commencement of the case or within another time fixed by the court, finds that the appointment of a patient care ombudsman is not necessary under the specific circumstances of the case for the protection of patients." About Smiles Dentistry PA Smiles Dentistry, PA, a Florida corporation established in 2024, operates a dental office in Lake Worth, Florida, under the ownership and management of Dr. Luz A. Ospina, its sole shareholder and licensed dentist. Smiles Dentistry sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-18509) on June 29, 2026, with assets of between $100,001 and $500,000 and liabilities of between $500,001 and $1 million. Luz Aida Ospina, president of Smiles Dentistry, signed the petition. Judge Scott M. Grossman oversees the case. Daniel A. Velasquez, Esq., at Latham Luna Eden & Beaudine, LLP, represents the Debtor as legal counsel. SMITH & SON: Voluntary Chapter 11 Case Summary ---------------------------------------------- Debtor: Smith & Son Hospitality LLC 540 1st Street South St. Petersburg, FL 33701 Business Description: Smith & Son Hospitality LLC, doing business as The Hangar Restaurant & Flight Lounge, is a restaurant in St. Petersburg, Florida, serving breakfast, lunch and dinner, with breakfast available throughout the day. The business also provides catering, private-event hosting, banquet and buffet options, and alcoholic and nonalcoholic beverages. Its event services support occasions including birthdays, holiday parties, corporate events and wedding festivities. Chapter 11 Petition Date: July 9, 2026 Court: United States Bankruptcy Court Middle District of Florida Case No.: 26-05988 Debtor's Counsel: Kevin Comer, Esq. COMER LAW FIRM 2135 1/2 2nd Avenue North St. Petersburg, FL 33713 Tel: 727-729-2719 E-mail: kevin@comer.work Total Assets: $734,929 Total Liabilities: $1,310,000 The petition was signed by Matthew Smith as managing member. The Debtor did not submit a list of its 20 largest unsecured creditors along with the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/ILAE2YI/Smith__Son_Hospitality_LLC__flmbke-26-05988__0001.0.pdf?mcid=tGE4TAMA SOLSTICE ADVANCED: Moody's Affirms 'Ba1' CFR, Outlook Stable ------------------------------------------------------------ Moody's Ratings affirmed Solstice Advanced Materials Inc.'s (Solstice's) Ba1 corporate family rating, its Ba1-PD Probability of Default Rating, its Baa3 senior secured bank credit facility ratings and its Ba2 senior unsecured notes rating. These actions follow the announcement that Element Solutions Inc. (Ba2, Stable) has agreed to be acquired by Solstice. The proposed transaction will be financed with a combination of stock and cash resulting in roughly $2.7 billion of additional debt on the balance sheet of the combined company. The company's Speculative Grade Liquidity Rating (SGL) remains unchanged at SGL-1 and the outlook remains stable. "With this transaction, Solstice will substantially increase its exposure to the electronics value chain including semiconductors, advanced packaging, thermal management and circuit board fabrication without overleveraging the balance sheet of the combined company," stated John Rogers, Moody's Ratings Senior Vice President and lead analyst on Solstice. RATINGS RATIONALE The affirmation of Solstice's Ba1 CFR reflects the limited additional leverage from the transaction along with the ability of the newly combined company to generate free cash flow and pay down debt so that credit metrics get back to levels that can fully support the rating within the first two years following the transaction. When Solstice was initially assigned a Ba1 CFR in 2025, Moody's noted that the secured capital structure was constraining the rating and that credit metrics were at levels that were more consistent with a higher rating as Debt/EBITDA was close to 2.0x and Retained Cash Flow/Net Debt of over 25%. Pro forma for the transaction, LTM credit metrics as of March 31, 2026 would be Debt/EBITDA of 4.6x and Retained Cash Flow/Net Debt of roughly 13%. Moody's expects that the company can use excess balance sheet cash and free cash flow generated through the end of 2028 to pay down debt by over $1 billion. The combination of debt reduction and earnings growth should allow leverage to decline below 3.5x and Retained Cash Flow/Net Debt getting to the high teens by the end of 2028. The affirmation also reflects the expectation for elevated EBITDA growth in the combined company's electronic and refrigerant businesses due to expected downstream demand and regulatory changes. The combined company will have roughly $7 billion in revenues and a very diverse portfolio of businesses with electronics and refrigerants accounting for roughly 40% of sales. Moody's notes that Element Solutions Inc acquired two companies for roughly $900 million in the first quarter of 2026, which should help accelerate EBITDA growth in 2026 and 2027. The rating remains tempered by the integration challenges from combining two separate companies that have undergone significant changes over the past year and the need to combine complementary businesses serving the electronics industry. The transaction is expected to close in the first half of 2027 providing management a reasonable amount of time to plan the integration over the first two to three years. LIQUIDITY The combined company should have excellent liquidity which keeps the speculative grade liquidity rating at SGL-1. Liquidity is supported by a sizable cash balance at closing and the expectation of meaningful free cash flow generation. Both companies are asset-lite, but capex is relatively elevated due to the expansion of capacities in several growing businesses. In addition, Moody's expects that the company will have an appropriately up-sized revolver to support the combined businesses and meaningful room under financial covenants. OUTLOOK The stable outlook reflects the expectation for earnings growth, meaningful free cash flow generation and the expected use of excess cash to repay debt. It also assumes that the integration of the combined company will not impede business operations or customer service. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS An upgrade would be considered if the company moves to an unsecured capital structure, demonstrates a track record of appropriate risk management as a standalone entity and is committed to maintaining strong credit metrics with adjusted Debt/EBITDA of below 3.0x and RCF/Net Debt of over 20% on a sustained basis. A downgrade would be considered, if leverage is sustained above 3.5x and RCF/Net Debt remains below 15% by the end of 2028, or if the company encounters challenges integrating the two companies, which reduces cash flow generation and slows debt reduction. Solstice Advanced Materials Inc., headquartered in Morris Plains, NJ, is an advanced materials company that is a leading global provider of refrigerants, semiconductor materials, protective fibers and healthcare packaging. The company is unusually diverse for its size and operates through two segments, Refrigerants & Applied Solutions and Electronic & Specialty Materials. Solstice generates annual revenues of under $4 billion. Element Solutions Inc, headquartered in Miami, FL, produces a wide array of specialty chemicals and materials primarily sold into the electronics, automotive and industrial markets with leading positions in a number of niche markets. The company operates in two business segments: Electronics and Specialties. Element Solutions generates revenues of less than $3 billion. The principal methodology used in these ratings was Chemicals published in February 2026. SPARHAWK LLC: Chapter 11 Trustee Seeks Cash Collateral Access ------------------------------------------------------------- Matthew Brash, the Chapter 11 trustee of Sparhawk, LLC and its affiliated debtors, ask the U.S. Bankruptcy Court for the Western District of Wisconsin, for authority to use cash collateral and provide adequate protection. Following negotiations with WoodTrust Bank, the trustee obtained an interim agreed order authorizing the use of the bank's cash collateral and providing adequate protection, which the court entered on June 1, 2026. The interim authority was subsequently extended several times, most recently through July 19, 2026. The trustee now seeks entry of a final order that largely adopts the interim agreement while incorporating several negotiated modifications. Under the proposed final order, the trustee would continue to use WoodTrust Bank's cash collateral in accordance with an updated operating budget extending through August 2, 2026, while providing weekly reports comparing actual financial performance against budgeted projections. As adequate protection, the trustee will continue making monthly cash payments of $200,000 to WoodTrust Bank, maintain insurance required under the loan documents, timely pay all post-petition withholding, sales, fuel, and other taxes, preserve the Debtors' property in working condition, maintain bank accounts with WoodTrust Bank, and provide the bank with inspection and appraisal rights. The bank will also retain replacement liens on the Debtors' personal property and cash collateral. The order preserves the rights of creditors and other parties in interest to challenge the validity, perfection, or enforceability of the bank’s liens or pursue avoidance actions within 60 days after the order becomes final, although the trustee expressly waives his own right to bring such challenges. The agreement also establishes a broad carve-out permitting payment of bankruptcy court filing fees, U.S. Trustee fees, approved professional fees and expenses, broker commissions associated with asset sales, statutory trustee compensation, and any WARN Act administrative claims from the bank’s collateral proceeds. The proposed final order includes several important revisions negotiated after entry of the interim order. WoodTrust Bank agreed to eliminate language that would have granted it post-petition liens on previously unencumbered assets, limiting its replacement liens solely to collateral in which it held perfected security interests as of the bankruptcy filing. In exchange, the trustee agreed that if the carve-out expenses and approved Kerkman & Dunn professional fees are paid from proceeds of the bank’s collateral, the bank will be reimbursed from the proceeds generated by sales of non-collateral assets without requiring further court approval. The parties also agreed to grant WoodTrust Bank a limited superpriority lien as additional adequate protection, but only to the extent of any decline in cash and accounts receivable between the petition date and the court’s approval of a sale of substantially all estate assets. The trustee must obtain approval of one or more sales of substantially all assets by August 31, 2026, and authority to use cash collateral will terminate on September 1, 2026, unless further extended by agreement or court order. A copy of the motion is available at https://urlcurt.com/u?l=FarUDb from PacerMonitor.com. About Sparhawk LLC Sparhawk LLC and affiliated entities -- Sparhawk Trucking, Inc., Sparhawk Properties, LLC; and Sparhaw Truck and Trailer, Inc. -- support trucking operations, equipment management and property holdings related to the group's transportation activities. Founded in 1981, the Sparhawk group operates within the general freight trucking industry in the United States. Sparhawk and its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wis. Lead Case No.26-10527) on March 13, 2026. In the petition signed by Mark A. Sparhawk, sole member, Sparhawk disclosed up to $10 million in both assets and liabilities. Judge Catherine J Furay oversees the cases. Jerome R. Kerkman, Esq., and Nicholas W. Kerkman, Esq., at Kerkman & Dunn, represent the Debtors as legal counsel. Matthew Brash was appointed as trustee appointed in these Chapter 11 cases. He tapped Swanson Sweet LLP as counsel and Newpoint Advisors Corporation as financial advisor. SPHERE 3D: Masiero Group Discloses 6.7% Stake Via Three Trusts -------------------------------------------------------------- Thomas Masiero, together with Kingdom First Trust, Thy Kingdom Trust, and Poimen Trust, disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of June 1, 2026, they beneficially own the following of Sphere 3D Corp.'s Common Shares (with Mr. Masiero having sole voting/dispositive power over his direct shares and shared voting/dispositive power over the trust-held shares): Thomas Masiero: 513,741 shares (6.7%), including: * 4,636 shares held directly by Mr. Masiero. * 2,066 shares held by Kingdom First Trust. * 470,135 shares held by Thy Kingdom Trust. * 36,904 shares held by Poimen Trust. Mr. Masiero is a trustee with voting and dispositive control over the trusts. The beneficiaries of Kingdom First Trust and Thy Kingdom Trust are family members of Mr. Masiero. The Poimen Trust beneficiaries are Thy Kingdom Trust and an unaffiliated trust (Togetsu Trust). Mr. Masiero maintains no pecuniary interest in the shares held by the trusts (except his direct shares). The shares were acquired in exchange for Mr. Masiero's shares of Cathedra Bitcoin Inc. in connection with Sphere 3D Corp.'s acquisition of Cathedra Bitcoin Inc. The percentage is based on 7,639,893 Common Shares outstanding as of June 19, 2026, as provided by the Issuer. Thomas Masiero (and related trusts) may be reached through: Thomas Masiero 3205 Election Rd. Pall Mall, TN 38577 A full-text copy of Thomas Masiero's SEC report is available at https://tinyurl.com/2vdj8r4z 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. ST DESIGN: Seeks Approval to Hire Totaro & Shanahan as Counsel -------------------------------------------------------------- St Design and Development, LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire Michael R. Totaro, Esq. and Maureen J. Shanahan, Esq. of Totaro & Shanahan, LLP to serve as general insolvency counsel. The firm will provide these services: (a) counsel the company through meetings and phone calls regarding the requirements of the Bankruptcy Code, the Federal Rules of Bankruptcy Procedure, the Local Bankruptcy Rules and the United States Trustee Guidelines; (b) prepare and amend the petition, schedules, reports, Monthly Operating Reports, first day motions, employment applications, disclosure statement and plan, and attend all required hearings, conferences, creditor meetings and interviews; (c) consult with the company's representative regarding required documents and reports, and with real estate counsel regarding title and related issues; (d) assist in preparing documents to comply with the requirements of the Office of the United States Trustee; (e) negotiate with secured and unsecured creditors regarding the amount and payment of their claims; (f) prepare the Disclosure Statement and Chapter 11 Plan of Reorganization, including any amendments; (g) submit ballots to creditors, tally ballots and submit the results to the Court; (h) respond to objections to the disclosure statement and plan, negotiate plan-related issues with creditors, and respond to motions for relief from stay, motions to dismiss and other contested matters; and (i) prosecute adversary proceedings, review and object to proofs of claim when necessary, oppose motions filed by the trustee, court or creditors, and handle other adversary matters arising during the administration of the Chapter 11 case. The firm will receive $650 per hour for attorneys and $200 per hour for paralegals. The firm asserts that it is a "disinterested person," as that term is defined in the Bankruptcy Code. The firm can be reached at: Michael R. Totaro, Esq. TOTARO & SHANAHAN, LLP P.O. Box 789 Pacific Palisades, CA 90272 Telephone: (310) 804-2157 E-mail: Ocbkatty@aol.com About St Design and Development, LLC St Design and Development, LLC is a single-asset real estate company that owns commercial duplex properties at 1201 Douglas St. and 1401 Allison Ave. in Los Angeles, California. St Design and Development, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 2:26-bk-16858-VZ) on July 9, 2026. At the time of the filing, the company had estimated assets of between $0 and $50,000 and liabilities of between $1,000,001 and $10 million. Judge Vincent P. Zurzolo oversees the case. Totaro & Shanahan, LLP is the company's legal counsel. SUNATION ENERGY: AWM Investment Holds 19.9% Equity Stake -------------------------------------------------------- AWM Investment Company, Inc., disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of June 29, 2026, it beneficially owns 820,000 shares of SUNation Energy, Inc.'s Common Stock, Par Value $0.05 (with sole voting power and sole dispositive power over all 820,000 shares, and no shared voting or dispositive power), representing 19.9% of the shares outstanding. AWM Investment Company, Inc. is the investment adviser to Special Situations Private Equity Fund, L.P.. As the investment adviser to the Fund, AWM holds sole voting and investment power over the 820,000 shares held by the Fund. David M. Greenhouse and Adam C. Stettner are members of MG Advisers, L.L.C. (the general partner of the Fund) and controlling principals of AWM. AWM Investment Company, Inc. may be reached through: Adam Stettner (Executive Vice President) 527 Madison Avenue Suite 2600 New York, NY 10022 Tel: 212-319-6670 A full-text copy of AWM Investment Company, Inc.'s SEC report is available at https://tinyurl.com/3nhmsry8 About SUNation Energy SUNation Energy Inc., formerly known as Pineapple Energy Inc., is focused on growing leading local and regional solar, storage, and energy services companies nationwide. Melville, N.Y.-based CBIZ CPAs P.C., the Company's auditor since 2025, issued a "going concern" qualification in its report dated March 20, 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 $40.12 million in total assets, $12.56 million in total current liabilities, $7.3 million in total long-term liabilities, and $20.26 million in total shareholders' equity. TELESAT CORP: MHR's Mark Rachesky Reports 35.5% Class B Stake ------------------------------------------------------------- MHR Fund Management LLC and affiliated entities (including MHR Holdings LLC, MHR Institutional Advisors LLC and related entities, MHR Sun GP LLC, The Rachesky Revocable Trust, and Mark H. Rachesky, M.D.), disclosed in a Schedule 13D (Amendment No. 2) filed with the U.S. Securities and Exchange Commission that as of July 8, 2026, the Reporting Persons beneficially own Class B Variable Voting Shares of Telesat Corporation -- with Mark H. Rachesky, M.D. being the largest individual reporting person, beneficially owning 18,096,228 Class B Variable Voting Shares, No Par Value Per Share, representing 35.5%, consisting of all Class B Shares deemed beneficially owned through his positions as managing member of MHRC, MHRC II, Institutional Advisors III, and MHR Holdings, as manager of MHRC I, and as sole trustee of The Rachesky Revocable Trust, plus 15,000 Class B Shares deemed held directly and 46,136 Class B Shares held directly; and noting that on July 8, 2026, in connection with the consummation of the CV Transaction, MHR Institutional Partners IIA LP and MHR Institutional Partners III LP each ceased to be the beneficial owner of more than five percent of the Class B Shares -- based on 51,003,269 Issuer Voting Securities issued and outstanding, comprising 14,730,782 Class A Common Shares and Class B Variable Voting Shares, 112,841 Class C Shares, and 36,159,646 Class A Units, Class B Units and Class C Units, as reported on the Issuer's Form 20-F on March 17, 2026. MHR Fund Management LLC (and related reporting persons) may be reached through: Janet Yeung MHR Fund Management LLC 40 West 57th Street, Floor 24 New York, NY 10019 Tel: (212) 262-0005 A full-text copy of MHR Fund Management LLC (and related reporting persons)'s SEC report is available at: https://tinyurl.com/ydv38xye About Telesat Corporation Telesat is a leading global satellite operator, providing its customers with mission-critical communications services since the start of the satellite communications industry in the 1960s. Through a combination of advanced satellites and ground facilities and a highly expert and dedicated staff, our communications solutions support the requirements of sophisticated satellite users throughout the world. Throughout the Company's lengthy operating history, it has demonstrated a deep commitment to customer service and led the way on many of the industry's most ground-breaking innovations. Toronto, Canada-based Deloitte LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 16, 2026, attached to the Company's Annual Report for the fiscal year ended December 31, 2025, citing that the impending maturity of the Company's credit facility and uncertainty about the Company's ability to successfully refinance the Telesat Canada Debt in advance of the upcoming maturity raises substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had C$6.6 billion in total assets, C$4.8 billion in total liabilities, and C$1.8 billion in total stockholders' equity. TELESAT CORP: Welcomes Ralph Kittle to Board of Directors --------------------------------------------------------- Telesat Corporation announced that Ralph (Cody) Kittle, a nominee of MHR Fund Management LLC, has been appointed to its Board of Directors. Mr. Kittle succeeds Michael Targoff, a previous MHR nominee. Mr. Kittle is the Founder and CEO of RenWave Kore, a private equity firm with more than $1.5 billion in assets under management. Prior to founding RenWave Kore, Mr. Kittle was a Portfolio Manager at Elliott Management and served on the boards of numerous portfolio companies. He currently serves on the board of Freddie Mac, where he chairs the Audit Committee. "We are pleased to welcome Cody to the Telesat Board. His experience in investment management, combined with his service on numerous public and private company boards, will bring valuable perspectives to the board," stated Mark Rachesky, Chair of Telesat's Board of Directors. "Mr. Targoff served with distinction on the Telesat Board of Directors for nearly 19 years. We are deeply grateful for his dedication to the company and his valuable contributions and insights throughout his tenure." About Telesat Corporation Telesat is a leading global satellite operator, providing its customers with mission-critical communications services since the start of the satellite communications industry in the 1960s. Through a combination of advanced satellites and ground facilities and a highly expert and dedicated staff, our communications solutions support the requirements of sophisticated satellite users throughout the world. Throughout the Company's lengthy operating history, it has demonstrated a deep commitment to customer service and led the way on many of the industry's most ground-breaking innovations. Toronto, Canada-based Deloitte LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 16, 2026, attached to the Company's Annual Report for the fiscal year ended December 31, 2025, citing that the impending maturity of the Company's credit facility and uncertainty about the Company's ability to successfully refinance the Telesat Canada Debt in advance of the upcoming maturity raises substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had C$6.6 billion in total assets, C$4.8 billion in total liabilities, and C$1.8 billion in total stockholders' equity. THORNCO HOSPITALITY: Seeks Approval to Hire Mitchell Law as Counsel ------------------------------------------------------------------- Thornco Hospitality, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to hire Gregory W. Mitchell, Esq. of The Mitchell Law Firm, L.P. to serve as legal counsel. The firm will provide these services: (a) effectuate a reorganization, propose a Plan of Reorganization and effectively move forward in the bankruptcy proceeding; (b) pursue any causes of action by way of adversary proceedings that would benefit the bankruptcy estate; (c) defend the company in any adversary proceedings that might be filed with respect to the case; and (d) make appearances in state court matters that affect the bankruptcy estate. The firm will receive these hourly rates: Gregory W. Mitchell $635 associates $365 paralegals $250 paraprofessionals $165 and legal assistants $150. The Debtor has also agreed to reimburse the firm for all reasonable out-of-pocket expenses incurred on its behalf. The firm received a $90,000 retainer shortly before the filing of the case. The Mitchell Law Firm, L.P. 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: Gregory W. Mitchell, Esq. THE MITCHELL LAW FIRM, L.P. 1100 W. Campbell Road, Suite 200 Richardson, TX 75080 Telephone: (972) 463-8417 Facsimile: (972) 432-7540 E-mail: greg@mitchellps.com About Thornco Hospitality, LLC Thornco Hospitality, LLC is a Thornton, Colorado-based hospitality company that owns and operates a Homewood Suites by Hilton hotel. The company is engaged in the ownership and management of extended-stay lodging properties. Thornco Hospitality, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-33059) on July 7, 2026. In its petition, the debtor reported estimated assets of $10 million to $50 million and estimated liabilities of $10 million to $50 million. The debtor is represented by Gregory Wayne Mitchell, Esq., of The Mitchell Law Firm, L.P. TRACES OF TIGER: Case Summary & Two Unsecured Creditors ------------------------------------------------------- Debtor: Traces of Tiger, Inc. 382 Bridge Creek Rd. Tiger GA 30576 Business Description: Traces of Tiger, Inc. operates a senior living community offering personal care and memory care accommodations, including dedicated personal care rooms and memory care rooms. The company provides residents with 24/7 on-site staff support, activities and events, proxy caregiving assistance, CPR- certified staff, and safe food handling practices. Traces of Tiger is located in Tiger, Georgia. Chapter 11 Petition Date: July 6, 2026 Court: United States Bankruptcy Court Northern District of Georgia Case No.: 26-21072 Debtor's Counsel: Will Geer, Esq. ROUNTREE, LEITMAN, KLEIN & GEER, LLC 2987 Clairmont Road Suite 350 Atlanta, GA 30329 Tel: 404-584-1238 E-mail: wgeer@rlkglaw.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Carlie Pennington as chief executive officer. A full-text copy of the petition, which includes a list of the Debtor's two unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/UEZ3SZA/Traces_of_Tiger_Inc__ganbke-26-21072__0001.0.pdf?mcid=tGE4TAMA UNIQUE THIRD: No Patient Complaints, 2nd PCO Report Says -------------------------------------------------------- Joseph Tomaino, the duly appointed patient care ombudsman, filed with the U.S. Bankruptcy Court for the Southern District of New York his second report regarding the quality of patient care provided by Unique Third Avenue, LLC and affiliates. On July 2, the PCO interviewed Unique on the status of operations and the impact of bankruptcy on business. Unique reported that staffing is adequate to meet clinical operation needs and that payroll is being met. Supplies are being purchased as needed. Moreover, the contact physicist made an inspection within the past two months and Unique reported there were no issues. The only negative impact of bankruptcy on the business is an interruption of marketing due to not being able to pay the marketing vendors. The PCO reported no patient or employee complaints since appointment and the initial site visit. Online reviews of Third Avenue Imaging were mixed to moderately positive, with feedback including both positive experiences and concerns regarding wait times and professionalism. Mr. Tomaino reported no issues with payroll, supplies, vendors, staffing, medical records, or quality of care, and noted that the company and management have been cooperative and transparent. A copy of the ombudsman report is available for free at https://urlcurt.com/u?l=jXfwL3 from PacerMonitor.com. The ombudsman may be reached at: Joseph J. Tomaino Grassi Healthcare Advisors LLC 488 Madison Avenue New York, NY 10022 (212) 223-5020 About Unique Third Avenue Unique Third Avenue, LLC and affiliates are a group of affiliated companies engaged in medical imaging and real estate operations in the Bronx, New York. The group includes Third Avenue Imaging, LLC and Unique Imaging Services, LLC, which operate diagnostic laboratories equipped with MRI, CT, mammography, and ultrasound systems; Distinguished Diagnostic Imaging, P.C., which provides outpatient radiology services across two accredited centers at Williamsbridge Road and East Fordham Road; and Unique Third Avenue LLC, which owns the real estate properties at 2772, 2774, and 2777-2781 Third Avenue that house the medical operations. Together, the companies maintain integrated clinical, equipment, and property assets under common beneficial ownership, offering comprehensive diagnostic imaging services to patients and referring physicians. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. N.Y. Lead Case No. 25-12461) on November 4, 2025. In the petition signed by Nick Lavrinoff, chief restructuring officer, Unique Third Avenue disclosed $3,261,747 in assets and $11,429,935 in liabilities. Judge John P. Mastando oversees the case. Mark Frankel, Esq., at Backenroth Frankel & Krinsky, LLP, represents the Debtor as legal counsel. Joseph J. Tomaino, the patient care ombudsman appointed in these Chapter 11 cases, is represented by Rimon, PC. UNITED HOSPITAL: Moody's Assigns Ba1 Issuer Rating, Outlook Stable ------------------------------------------------------------------ Moody's Ratings has assigned a Ba1 issuer rating to United Hospital District (Todd, Morrison, Cass, and Wadena Counties), MN and downgraded the district's general obligation unlimited tax (GOULT) bond rating to Baa1 from A2. United Hospital has approximately $68 million of debt outstanding. The outlook is stable. The GOULT rating downgrade to Baa1 concludes a review for possible downgrade that was initiated on May 28, 2026 and reflects the application of the updated Not-for-profit Healthcare methodology. RATINGS RATIONALE The Ba1 issuer rating reflects the United Hospital district's stable credit profile, supported by its essential role as a primary healthcare provider through Lakewood Health, the hospital operator, serving more than 30,000 residents across four counties in central Minnesota, as well as its stable local market position. Moody's expects operating performance will remain modest but stable, with EBITDA margins in the mid-single-digit range and liquidity of 110 to 120 days' cash on hand. Credit strengths are balanced by the district's limited scale and rural location, which heighten exposure to volume variability, workforce constraints and competitive pressures from larger providers. The rating also reflects elevated reliance on Medicare and Medicaid reimbursement, which exposes the district to potential rate and policy changes, and the need for continued effective operational execution to sustain recent financial improvement. The absence of significant near-term capital spending and no plans to issue additional debt will support financial flexibility amid ongoing reimbursement uncertainty. The Baa1 GOULT rating reflects Moody's assessments of the economy as A. The district operates in a rural economy and has a below average demographic profile. While the district does not currently levy a property tax for the GOULT debt service, the GOULT pledge provides the authority to levy an unlimited ad valorem tax if needed, which supports a higher instrument rating than the issuer rating. RATING OUTLOOK The stable outlook reflects Moody's expectations that financial performance will remain at least mid-single-digit EBIDA margin, supported by a strong local market position and continued service line growth. FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS -- Sustained increase of days cash above 200 days -- Significant taxable value growth along with improved resident income levels FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS -- Negative EBIDA -- Materially weaker liquidity with days cash dropping below 75 days -- Significant revenue contraction without sufficient tax levy to offset revenue declines to cover GOULT debt PROFILE The district, which does business as Lakewood Health System, is a small rural healthcare system serving residents of Staples and the surrounding central Minnesota region, providing a continuum of care across acute, post-acute, and outpatient settings. Core operations include a 25-bed critical access hospital in Staples that offers inpatient, outpatient, emergency, and ancillary services. United Hospital District owns the system's real estate and facility assets, while Lakewood Health System is responsible for the healthcare operations, leasing the facilities from the district and operating the system. Lakewood Health System pays principal and interest on notes and bonds in the form of a lease payment to the district. The notes and bonds are secured by the healthcare facilities and the district's taxing power. METHODOLOGY The principal methodology used in these ratings was Not-for-profit Healthcare published in May 2026. UTICORP INC: Case Summary & 20 Largest Unsecured Creditors ---------------------------------------------------------- Debtor: Uticorp Inc. VIG Tower 1225 Ave. Ponce De Leon PH-1115 San Juan, PR 00907 Business Description: Uticorp Inc. provides health-care consulting services specializing in medical utilization review and clinical auditing. Founded in 1990 and based in San Juan, Puerto Rico, the company reviews medical necessity and levels of care, examines patient records and billing documentation, and supports inpatient review, utilization-management and case-management programs. Uticorp serves health insurers, hospitals and government agencies. Chapter 11 Petition Date: July 9, 2026 Court: United States Bankruptcy Court District of Puerto Rico Case No.: 26-03175 Debtor's Counsel: Carmen D. Conde Torres, Esq. C. CONDE & ASSOC. Triple S Plaza, PH Suite 1302 1510 Ave. FD Roosevelt Guaynabo, PR 00966 Tel: 787-729-2900 Fax: 787-729-2203 E-mail: condecarmen@condelaw.com Total Assets: $349,698 Total Liabilities: $1,185,064 The petition was signed by Sylvette Rivera Garcia as president, treasurer and secretary. 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/NOD5JCI/UTICORP_INC__prbke-26-03175__0002.0.pdf?mcid=tGE4TAMA UTICORP INC: Seeks to Hire C. Conde & Assoc. as Legal Counsel ------------------------------------------------------------- Uticorp, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to hire Carmen D. Conde Torres of C. Conde & Assoc. to serve as legal counsel. The firm will provide these services: (a) advise the company with respect to its duties, powers and responsibilities in this case under the laws of the United States and Puerto Rico in which it conducts its operations, does business, or is involved in litigation; (b) advise the company in connection with determining whether a reorganization is feasible and, if not, assist in the orderly liquidation of its assets; (c) assist the company in negotiations with creditors for the purpose of arranging the orderly liquidation of assets and/or proposing a viable plan; (d) prepare the necessary complaints, answers, orders, reports, memoranda of law and other legal papers or documents; (e) appear before the Bankruptcy Court, or any court in which the company asserts a claim, interest or defense directly or indirectly related to the bankruptcy case; (f) perform such other legal services as may be required in these proceedings or in connection with the operation and involvement with the company's business; (g) provide, if necessary, any and all notary services allowed under the Notary Law, provided such services do not constitute or represent any conflict; and (h) employ other professional services, if necessary. The firm will be paid at these hourly rates: Ms. Carmen D. Conde Torres $400 Associates $350 Junior attorneys $300 The paralegals, in-house special clerical services and/or accounting analysts will also received $150 per hour, plus costs and expenses. C. Conde & Assoc. 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: Carmen D. Conde Torres, Esq. C. CONDE & ASSOC. 1519 Ave. FD RSTE 1342 Guaynabo, PR Telephone: (787) 729-2900 Facsimile: (787) 729-2283 E-mail: notices@condelaw.com About UTICORP, INC. Uticorp, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Puerto Rico Case No. 26-43175) on July 9, 2026. At the time of the filing, the debtor's estimated assets and liabilities were not stated in the provided document. C. CONDE & ASSOC. is the company's legal counsel. VANGUARD SURGICAL: William Harbison Submits First PCO Report ------------------------------------------------------------ William Harbison, the patient care ombudsman, filed with the U.S. Bankruptcy Court for the Western District of Kentucky his first interim report regarding the quality of patient care provided by Vanguard Surgical, LLC. On May 19, the PCO interviewed the Debtor's counsel and its principal, Dr. Michael Hughes, regarding his synopsis of the company's operations. Dr. Hughes reports that most of the procedures that the Debtor has historically performed were outpatient, with fewer than 5% requiring inpatient treatment. The Debtor performs approximately 250 to 350 surgeries per year. The PCO identified no concerns with the Debtor's recordkeeping practices, which are consistent with what his research indicates is the state of the art. The Debtor uses iQueue for Surgical Clinics to coordinate surgeries and Phreesia to process referrals and to complete the patient intake process, and both of these applications integrate with the Athena system. He is aware of no reason for concern about the Debtor's recordkeeping practices and do not intend to investigate them further unless an issue is brought to his attention. The PCO cited that the Debtor's chapter 11 case, and the organization of the Debtor itself, is a consequence of a dispute between Dr. Hughes and UofL Health. Because the dispute is at the center of the Debtor's history and involves allegations that Dr. Hughes exercised poor medical judgment, the PCO sought to understand it in some depth in order to determine whether additional investigation and particular monitoring is indicated. The primary basis for his understanding of the dispute is Judge Patricia Morris's opinion and order entered in the litigation between Dr. Hughes and UofL Health. Mr. Harbison observed that the facilities were clean, inviting, and consistent with his expectations for a practice of this nature. The Debtor employs four staff, apart from Dr. Hughes. These include Taylor Rich, a nurse practitioner licensed in Kentucky and Indiana who works part-time and was not present during his visit and an administrative assistant who serves as the receptionist and greeted him upon arrival. Dr. Hughes indicated that he hopes to expand the practice to include another surgeon and nurse practitioner. The PCO stated that there is no reason for him, as PCO, to conduct additional investigation into the Debtor's treatment of its patients unless an issue is brought to his attention by a patient or their family. UofL Health's allegations and findings against Dr. Hughes are certainly alarming, but he finds Dr. Hughes's criticism of the process that resulted in the revocation of his privileges to be compelling and find it plausible that the proceedings were colored by conflicts of interest. A copy of the ombudsman report is available for free at https://urlcurt.com/u?l=aKwyhE from PacerMonitor.com. The ombudsman may be reached at: William P. Harbison Morgan Pottinger McGarvey 401 South Fourth Street, Suite 1200 Louisville, KY 40202 Tel. 502.560.6720 | Fax 502.585.3498 Email: wph@mpmfirm.com About Vanguard Surgical LLC Vanguard Surgical LLC is a Louisville, Kentucky-based surgical center that provides specialized surgical services for conditions such as gastroparesis and chronic pancreatitis. Vanguard Surgical sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Ky. Case No. 26-30901) on March 31, 2026. In its petition, the Debtor reports assets of $50,000 or less and liabilities between $100,001 and $500,000. Judge Charles R. Merrill handles the case. The Debtor is represented by Michael W. McClain, Esq., at McClain Law Group, PLLC. William P. Harbison is the patient care ombudsman appointed in the case. VEL EVAN: Gets Interim OK to Use Cash Collateral ------------------------------------------------ Vel Evan, LLC got the green light from the U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville Division, to use cash collateral. At the July 15 hearing, the court authorized the Debtor's interim use of cash collateral and set a further hearing for Aug. 26. The Debtor needs immediate access to cash collateral since it lacks sufficient unencumbered funds to continue its operations. The Debtor's cash collateral may be subject to security interests held by Ameris Bank, Channel Partners Capital, and Tola Inc., which assert liens on substantially all of its assets, including the funds held in the debtor-in-possession account. The Debtor has $48,148 in cash collateral, representing all funds currently in its account. To protect the interests of secured creditors, the Debtor offers adequate protection in the form of replacement liens on post-petition assets of the same type, priority, and validity as their pre-petition liens; insurance coverage for the collateral; and weekly financial reporting. The Debtor said these measures will adequately safeguard creditors against any decline in the value of their collateral during the bankruptcy proceedings. About Vel Evan LLC Vel Evan LLC is a Florida limited liability company doing business as Avigna Granite World, is based in Jacksonville, Florida, where it provides custom fabricated stone slab and countertop services, including design, fabrication, installation, and project management, to homeowners, contractors, and architects. The company offers granite, quartz, and exotic countertop materials for residential and commercial applications. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-01171) on March 19, 2026. In the petition signed by Sriram Guruswamy, owner, the Debtor disclosed up to $100,000 in assets and up to $10 million in liabilities. Judge Jacob A. Brown oversees the case. Brandon Stanko, Esq., at Brandon Stanko, PA represents the Debtor as legal counsel. VERASTEM INC: Polar Capital Holds 4.8% Equity Stake --------------------------------------------------- Polar Capital Holdings Plc (together with Polar Capital LLP and Polar Capital Funds PLC - Biotechnology Fund), 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 3,700,000 shares of Verastem, Inc.'s Common stock, $0.0001 par value per share, representing 4.80% of the 77,154,709 shares outstanding as reported on Bloomberg on January 12, 2026. Polar Capital Holdings Plc may be reached through: Nicholas Farren (Chief Operating Officer) 16 Palace Street London, SW1E 5JD Tel: 02072272700 A full-text copy of Polar Capital Holdings Plc (and related reporting persons)'s SEC report is available at: https://tinyurl.com/2j5watw6 About Verastem, Inc. Verastem, Inc. is a biopharmaceutical company committed to the development and commercialization of new medicines to improve the lives of patients diagnosed with ras sarcoma / mitogen activated pathway kinase pathway-driven cancers. The Company's pipeline is focused on novel small molecule drugs that inhibit critical signaling pathways in cancer that promote cancer cell survival and tumor growth, including RAF/MEK inhibition, FAK inhibition and KRAS G12D inhibition. As of March 31, 2026, the Company had $227.81 million in total assets, $146.03 million in total liabilities, and $81.78 million in total stockholders' equity. As disclosed in the Company's 10-Q Report for the quarterly period ended March 31, 2026, it anticipates operating losses may continue for the foreseeable future and the Company continues to incur operating costs to execute its strategic plan, including costs related to research and development of its product candidates and commercial activities. As a result of the assessment in accordance with the applicable accounting standards, these conditions raise substantial doubt about the Company's ability to continue as a going concern for the next 12 months. VISIONARY PLANNING: Unsecureds Will Get 100% of Claims in Sale Plan ------------------------------------------------------------------- Visionary Planning Inc. filed with the U.S. Bankruptcy Court for the Southern District of Florida a Subchapter V Plan of Reorganization dated July 6, 2026. The Debtor is a Florida profit corporation incorporated in September 2022 under the laws of the State of Florida, with its principal place of business in Miami, Florida. The Debtor is 100% owned by Sallie A. Rodriguez, who also serves as the Debtor's President and sole officer. The Debtor's most significant asset is the Halissee Property, a fully renovated residential property located at 3303 Halissee Street, Miami, Florida 33133. The Debtor acquired and substantially renovated the Halissee Property as part of its real estate business operations. As of the Petition Date, the Halissee Property had an estimated value of not less than $4,000,000.00. The Debtor filed this case to facilitate an orderly, court-supervised sale of the Halissee Property, to satisfy all creditor obligations in full, and to preserve the going-concern value of its consulting and publishing operations. The Plan is structured as a sale-based liquidating plan with respect to the Halissee Property, while the Debtor's consulting, advisory, and publishing operations continue as a going concern. The key elements of the Plan are as follows: * The Debtor shall sell the Halissee Property under and pursuant to this confirmed Plan, free and clear of all liens, claims, interests, and encumbrances pursuant to Sections 363(f), 1123(a)(5)(D), and 1141(c) of the Bankruptcy Code, with all valid liens to attach to the Sale Proceeds in their respective order of priority. The Sale is an integral and necessary component of, and shall be consummated pursuant to, the confirmed Plan. The transfer of the Halissee Property to the Purchaser is a transfer under a Plan confirmed under Section 1191 of the Bankruptcy Code and shall be exempt from documentary stamp taxes, transfer taxes, recording taxes, and similar taxes pursuant to Section 1146(a) of the Bankruptcy Code. The Debtor anticipates completing the Closing within approximately ninety days after the Effective Date, and in no event shall the Closing occur prior to the Confirmation Date. * From the gross Sale Proceeds, the Debtor shall pay, in order of priority: (1) customary closing costs and court-approved real estate commissions (the transfer of the Halissee Property being exempt from documentary stamp, transfer, and similar taxes under Section 1146(a)) of the Bankruptcy Code; (2) the Class 1 secured ad valorem tax Claim of the Miami-Dade County Tax Collector in full; (3) the Class 2 Claim of Benfam Holdings LLC (first lien mortgage) in the Allowed Amount, subject to the Claim No. 6 Objection; (4) the Class 3 Claim of Benfam Holdings LLC (second lien mortgage) in full; (5) all allowed Administrative Expense Claims, including Professional Fee Claims; (6) the unclassified priority tax Claim of the Florida Department of Revenue in full; (7) all allowed General Unsecured Claims (Class 4) in full; and (8) any residual proceeds to the equity holder, Sallie A. Rodriguez (Class 5). * The Tesla Vehicle Lease shall be assumed under Sections 365 and 1123(b)(2) of the Bankruptcy Code as provided in Article V hereof, with the cure amount paid and the Debtor continuing regular lease payments in the ordinary course. The Tesla Lease is an unexpired lease governed by Article V and is not classified under Article III. * The Debtor's ongoing consulting, advisory, and publishing revenues shall be used to fund ordinary course operating expenses during the Plan period, pending closing of the property sale. * Upon completion of all distributions and closing of the case, the Debtor shall be entitled to a discharge pursuant to Section 1192 of the Bankruptcy Code, as further described in Article IX hereof. Class 4 consists of all Allowed General Unsecured Claims against the Debtor, including the unsecured Claims for which proofs of claim have been filed. Based upon the proofs of claim filed as of the date of this Plan and the Debtor's Schedules, the aggregate amount of General Unsecured Claims is approximately $95,775.95. Class 4 is unimpaired. Each holder of an Allowed Class 4 General Unsecured Claim shall be paid in full, in Cash, in an amount equal to one-hundred percent of such Allowed Claim, without post-petition interest, on the later of: (a) the Effective Date or as soon as practicable thereafter; (b) the date such Claim becomes an Allowed Claim by Final Order; or (c) the Closing of the Sale of the Halissee Property; but in no event later than ninety days after the Effective Date. All Allowed General Unsecured Claims are paid in full from the substantial equity in the Halissee Property. The Allowed Class 4 General Unsecured Claim of Headway Capital, LLC (Proof of Claim No. 8) is disputed and is the subject of the pending litigation styled Headway Capital, LLC v. Visionary Planning, Inc., Case No. 2025-L-11879, pending in the Circuit Court of Cook County, Illinois (the "Headway Litigation"). In lieu of a direct distribution, the Headway Claim shall be treated as "paid in full" by the Debtor's funding into a segregated, interest-bearing escrow account (the "Headway Escrow") of Cash in an amount up to, but not exceeding, the filed amount of $58,090.22, which amount shall be capped at, and shall not exceed, the liability, if any, ultimately determined against the Debtor in the Headway Litigation. The Headway Escrow shall be established on or before the Effective Date and shall be held solely to fund and satisfy any liability arising from, and shall be subject to, any final judgment or order entered in the Headway Litigation. Funds shall be released from the Headway Escrow only upon, and strictly in accordance with, the entry of a final, nonappealable judgment or order in the Headway Litigation: (a) if the Debtor is determined to be liable to Headway Capital, LLC in a specified amount, such amount (not to exceed $58,090.22) shall be paid to Headway Capital, LLC from the Headway Escrow; and (b) any funds remaining in the Headway Escrow after satisfaction in full of any such liability, or in the event the Headway Claim is disallowed, reduced, or defeated in whole or in part, shall revert to the Estate and shall be distributed in accordance with Section 4.2 of this Plan. Class 5 consists of the Equity Interest of Sallie A. Rodriguez, the holder of one hundred percent of the issued and outstanding equity interests in the Debtor. Because all senior Classes of Claims are paid in full under this Plan, Sallie A. Rodriguez shall retain her Equity Interest in the Debtor and shall receive any residual Sale Proceeds and other property of the Estate remaining after payment in full of all Allowed Administrative Expense Claims, Priority Claims, Secured Claims, and General Unsecured Claims. The primary means for implementation of this Plan is the sale of the Halissee Property, under and pursuant to this confirmed Plan, free and clear of all liens, claims, interests, and encumbrances pursuant to Sections 363(f), 1123(a)(5)(D), and 1141(c) of the Bankruptcy Code, with all valid liens attaching to the Sale Proceeds in their respective order of priority. The Sale is authorized by, and necessary to the consummation of, the confirmed Plan, and shall be consummated only on or after the Confirmation Date. A full-text copy of the Plan of Reorganization dated July 6, 2026 is available at https://urlcurt.com/u?l=qQQzLs from PacerMonitor.com at no charge. Counsel to the Debtor: Jesus Santiago, Esq. DASA Law 14100 Palmetto Frontage Road, Suite 370 Miami Lakes, FL 33016 Telephone: (888) 343-3272 Facsimile: (659) 901-1780 About Visionary Planning Inc. Visionary Planning, Inc. owns a residential property located at 3303 Halissee Street in Coconut Grove, Florida, with an estimated value of $1.6 million. Visionary Planning sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-14272) on April 6, 2026, with $1,869,865 in total assets and $2,460,400 in total liabilities. Sallie Rodriguez, president, signed the petition. Jesus Santiago, Esq., at DASA Law represents the Debtor as counsel. VOLUNTEER PHARMACY: Case Summary & 20 Largest Unsecured Creditors ----------------------------------------------------------------- Debtor: Volunteer Pharmacy, Inc. 2559 Willow Point Way Knoxville, TN 37931 Business Description: Volunteer Pharmacy, Inc. operates an independent retail and compounding pharmacy in Knoxville, Tennessee. Founded in 2011, the company provides prescription dispensing, customized compounded medications, immunizations, medication-therapy management, compliance packaging, delivery and interstate shipping services. Its offerings serve individual patients, health-care providers, pet owners and veterinary practices, while its compounding laboratory holds PCAB and ACHC accreditation. Chapter 11 Petition Date: July 13, 2026 Court: United States Bankruptcy Court Eastern District of Tennessee Case No.: 26-31399 Judge: Hon. Suzanne H Bauknight Debtor's Counsel: Edward J. Shultz, Esq. TARPY, COX, FLEISHMAN & LEVEILLE, PLLC 1111 N Northshore Dr., Suite N-290 Knoxville, TN 37919 Tel: (865) 588-1096 E-mail: eshultz@tcflattorneys.com Estimated Assets: $500,000 to $1 million Estimated Liabilities: $1 million to $10 million The petition was signed by Camilla M. Frost as president. 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/FJ2OSVY/Volunteer_Pharmacy_Inc__tnebke-26-31399__0001.0.pdf?mcid=tGE4TAMA VOLUNTEER PHARMACY: Seeks Chapter 11 Bankruptcy in Tennessee ------------------------------------------------------------ On July 13, 2026, Volunteer Pharmacy, Inc., filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of Tennessee. According to court filings, the debtor reports between $1 million and $10 million in liabilities owed to 1 to 49 creditors. The Statement of Financial Affairs is due by July 27, 2026, while the deadline for government proofs of claim is January 11, 2027. About Volunteer Pharmacy, Inc. Volunteer Pharmacy, Inc. is a Knoxville, Tennessee-based retail and compounding pharmacy providing prescription medications, customized pharmaceutical compounding and specialty pharmacy services. The company continues to operate from its Knoxville facility and maintains Pharmacy Compounding Accreditation Board (PCAB) and PersonalMed accreditations recognizing its compounding practices. Volunteer Pharmacy, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-31399) on July 13, 2026. In its petition, the debtor reported estimated assets of $500,000 to $1 million and estimated liabilities of $1 million to $10 million. Honorable Suzanne H. Bauknight handles the case. The debtor is represented by Edward J. Shultz, Esq., of Tarpy Cox Fleishman & Leveille, PLLC. WAIN ENTERPRISES: Hires Lamberth Cifelli Ellis & Nason as Counsel ----------------------------------------------------------------- Wain Enterprises, LLC, d/b/a Wheelers, seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Lamberth, Cifelli, Ellis & Nason, P.A. as counsel. The firm will provide these services: (a) advise, assist, and represent the Debtor with respect to its rights, powers, duties, and obligations in the administration of this case, and the collection, preservation, and administration of assets of the estate; (b) advise, assist, and represent the Debtor regarding claims and causes of action, including preferences, fraudulent conveyances, improper disposal of assets, other recovery actions, and related adversary proceedings and litigation; (c) advise, assist, and represent the Debtor regarding the investigation of executory contracts and unexpired leases, liens and encumbrances, potential avoidance actions, and related proceedings; (d) advise, assist, and represent the Debtor in connection with applications, motions, complaints concerning reclamation, sequestration, relief from stay, disposition or use of estate assets, and similar matters; (e) advise, assist, and represent the Debtor in preparing, drafting, and negotiating a plan of reorganization or liquidation and disclosure statement, or in connection with the sale or other disposition of estate assets; (f) prepare pleadings, applications, motions, reports, and other papers incidental to administration, and conduct examinations as permitted under applicable law; (g) provide support and assistance regarding the receipt, disbursement, and accounting for estate funds and property; (h) provide support and assistance in reviewing claims, investigating allowable amounts and priorities, and filing and prosecuting objections to claims; and (i) perform any and all other legal services incident or necessary to the proper administration of the case and the representation of Wain Enterprises under the Bankruptcy Code. The firm currently charges hourly rates ranging from $425 to $525 for attorneys and $75 to $275 for paralegals. Lamberth, Cifelli, Ellis & Nason, P.A. 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: G. Frank Nason, IV LAMBERTH, CIFELLI, ELLIS & NASON, P.A. 6000 Lake Forrest Drive, N.W., Suite 290 Atlanta, GA 30328 Telephone: (404) 262-7373 About Wain Enterprises, LLC Wain Enterprises, LLC, doing business as Wheelers, is a Rome, Georgia-based manufacturer of wood trusses and wall panels for the construction industry. The company produces structural building components and operates a fleet of tractors and trailers to support the distribution of its products throughout the Greater Atlanta region. Wain Enterprises, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-41157) on July 8, 2026. In its petition, the debtor reported estimated assets of $10 million to $50 million and estimated liabilities of $10 million to $50 million. The debtor is represented by G. Frank Nason IV, Esq., of Lamberth Cifelli Ellis & Nason, P.A. WORKHORSE GROUP: Names Jody Davis CFO, Robert Ginnan Steps Down --------------------------------------------------------------- Workhorse Group Inc. announced in a regulatory filing that on July 13, 2026, it appointed Jody Davis as its Chief Financial Officer (Principal Financial Officer) and Lindsay A. Barnes as its Chief Accounting Officer (Principal Accounting Officer), each effective immediately. Concurrently, Robert M. Ginnan stepped down as Chief Financial Officer, effective July 13, 2026, with his employment with the Company terminating effective July 17, 2026. Mr. Ginnan will remain employed by the Company through July 17, 2026 to assist in the transition to the new Chief Financial Officer. Appointment of Jody Davis as Chief Financial Officer Jody Davis has more than fifteen years of experience in finance. Prior to joining the Company, Mr. Davis most recently served as VP, Strategic Finance of Unimacts Global, a manufacturing services and supply chain company, from March 2026 until present. Previously, Mr. Davis served as Chief Financial Officer at EVIO, Inc. (formerly EOS Aircraft, Inc.), a hybrid-electric aircraft developer, from January 2025 until February 2026. Prior to that, Mr. Davis served as Founding Partner, Chief Financial Officer and SVP Finance at Our Next Energy, Inc., an energy storage company, from July 2020 until May 2025. Mr. Davis holds a Bachelor of Commerce degree in finance from the Ted Rogers School of Management at Ryerson University and a Business Administration Diploma from Humber College. In connection with his hiring, Mr. Davis entered into an Executive Employment Agreement with the Company. Mr. Davis's initial base salary is $375,000 per year, to be reviewed annually. Subject to approval of the Board of Directors, Mr. Davis will be entitled to an initial inducement grant of restricted stock units representing 93,750 shares of the Company's common stock, vesting annually in three equal installments beginning on the one-year anniversary of the date of grant, subject to continuous service to the Company. Mr. Davis's target bonus will be 50% of his annual base salary, payable at the direction of the Human Resource Management and Compensation Committee of the Board in its sole discretion based on achievement of certain goals. Following a change of control of the Company, Mr. Davis is eligible for severance of: * up to six months of the aggregate of his base salary and target bonus; and * immediate vesting acceleration of the portion of any then outstanding equity awards. There is no arrangement or understanding between Mr. Davis and any other person pursuant to which he was selected as an officer of the Company, there are no family relationships between Mr. Davis and any of the Company's directors or executive officers, and Mr. Davis does not have a direct or indirect material interest in any transaction that would be required to be disclosed under Item 404(a) of Regulation S-K. Appointment of Lindsay A. Barnes as Chief Accounting Officer Lindsay A. Barnes has served as the Company's Vice President, Corporate Controller since November 2025 and has more than twenty-six years of experience in the field of accounting. Prior to joining the Company, Ms. Barnes most recently served as Vice President, Controller of Mastronardi Produce Ltd, a commercial produce company, from February 2024 to April 2025. Previously, Ms. Barnes held various positions at La-Z-Boy Incorporated (NYSE: LZB), including Vice President of Strategy, Vice President of Finance and Treasurer, Vice President, Corporate Controller and Chief Accounting Officer from November 2011 until February 2024. Ms. Barnes is a registered certified public accountant and holds a BBA in accounting from Eastern Michigan University. There is no change to Ms. Barnes' compensation as a result of her appointment as Chief Accounting Officer. There is no arrangement or understanding between Ms. Barnes and any other person pursuant to which she was appointed, there are no family relationships between Ms. Barnes and any of the Company's directors or executive officers, and Ms. Barnes does not have a direct or indirect material interest in any transaction that would be required to be disclosed under Item 404(a) of Regulation S-K. Departure of Robert M. Ginnan In connection with Mr. Ginnan's departure, Mr. Ginnan will be eligible to receive the severance benefits set forth in that certain Amended and Restated Second Amendment to Employment Agreement, dated as of December 15, 2025, by and between the Company and Mr. Ginnan. A full text copy of the Employment Agreement is available at https://tinyurl.com/2r8fjvnu About Workhorse Group Workhorse Group Inc. -- http://www.workhorse.com-- is an American technology company with a vision to pioneer the transition to zero-emission commercial vehicles. The Company designs, develops, manufactures and sells fully electric ground and air-based electric vehicles. Palm Beach Gardens, Florida-based Carr, Riggs & Ingram, L.L.C., the Company's auditor since 2026, 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 recurring losses from operations, has a working capital deficiency, and an accumulated deficit that raises substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $102.7 million in total assets, $76.5 million in total liabilities, and $26.2 million in total stockholders' equity. YESCARE CORP: Director Denies Creditors' Misconduct Claims ---------------------------------------------------------- James Nani of Bloomberg Law reports that Isaac Lefkowitz, a director of bankrupt prison healthcare provider YesCare, has fought back against creditor allegations that he diverted millions of dollars in company assets. Lefkowitz argued that the claims brought by the creditors' committee are exaggerated and designed to create unnecessary conflict during the company's Chapter 11 proceedings. Appearing before Judge Luis E. Rivera II at the Southern District of Florida bankruptcy court in Tampa, Lefkowitz disputed requests for contempt sanctions and a lawsuit seeking to recover more than $2 million. He accused creditors of using litigation as a tactic to harass him rather than resolve legitimate bankruptcy issues, the report cites. The creditors' committee alleges that Lefkowitz engaged in improper conduct involving company funds and seeks court intervention to protect the bankruptcy estate. The committee's actions include efforts to claw back alleged transfers involving Lefkowitz and his affiliated businesses, reports Bloomberg Law. Lefkowitz rejected the accusations and argued that the claims lack merit. The dispute highlights ongoing tensions among YesCare stakeholders as the company attempts to navigate its Chapter 11 restructuring and creditor recovery efforts, according to report. About YesCare Corp. YesCare Corp. is a correctional healthcare company. YesCare Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-01089) on May 8, 2026. In its petition, the Debtor reports estimated assets between $50 million and $100 million and estimated liabilities between $100 million and $500 million. Honorable Bankruptcy Judge Luis Ernesto Rivera II handles the case. The Debtor is represented by Michael R. Dal Lago, Esq. of Dal Lago Law. Polsinelli PC serves as general bankruptcy counsel. The Debtor tapped David Goldwasser of FIA Capital Partners, LLC as financial advisor and Omni Agent Solutions, Inc. as claims agent. [] BOOK REVIEW: A History of the New York Stock Market ------------------------------------------------------ Author: Robert Sobel Publisher: Beard Books Soft cover: 395 pages List Price: $34.95 https://ecommerce.beardbooks.com/beardbooks/the_big_board.html First published in 1965, The Big Board was the first history of the New York stock market. It's a story of people: their foibles and strengths, earnestness and avarice, triumphs and crash-and-burns. It's full of entertaining anecdotes, cocktail-party trivia, and tales of love and hate between companies and investors. Early investments in North America consisted almost exclusively of land. The few securities holders lived in cities, where informal markets grew, with most trading carried out in the street and in coffeehouses. Banking, insurance, and manufacturing activity increased only after the Revolution. In 1792, 24 prominent New York businessmen, for whom stock- and bond-trading was only a side business, met under a buttonwood tree on Wall Street and agreed to trade securities on a common commission basis. Five securities were traded: three government bonds and two bank stocks. Trading was carried out at the Tontine Coffee-House in a call market, with the president reading out a list of stocks as brokers traded each in turn. The first half of the 19th century was heady for security trading in New York. In 1817, the Tontine gave way to the New York Stock and Exchange Board, with a more organized and regulated system. Canal mania, which peaked in the late 1820s, attracted European funds to New York and volume soared to 100 shares a day. Soon, the railroads competed with canals for funding. In the frenzy, reckless investors bought shares in "sheer fabrications of imaginative and dishonest men," leading an economist of the day to lament that "every monied corporation is prima facia injurious to the national wealth, and ought to be looked upon by those who have no money with jealousy and suspicion." Colorful figures of Wall Street included Jay Gould and Jim Fisk, who in 1869 precipitated one of the worst panics in American financial history by trying to corner the gold market. Almost lynched, the two were hauled into court, where Fisk whined, "A fellow can't have a little innocent fun without everybody raising a halloo and going wild." Then there was Jay Cooke, who invented the national bond drive and, practically unaided, financed the Union effort in the Civil War. In 1873, however, faulty judgement on railroad investments led to the failure of Cooke & Co. and a panic on Wall Street. The NYSE closed for ten days. A journalist wrote: "An hour before its doors were closed, the Bank of England was not more trusted." Despite J. P. Morgan's virtual single-handed role in stemming the Knickerbocker Trust panic of 1907, on his death in 1913, someone wrote "We verily believe that J. Pierpont Morgan has done more harm in the world than any man who ever lived in it." In the 1950s, Charles Merrill was instrumental in changing this attitude toward Wall Streeters. His firm, Merrill Lynch, derisively known in some quarters as "We, the People" and "The Thundering Herd," brought Wall Street to small investors, traditionally not worth the effort for brokers. The Big Board closes with this story. Asked by a much younger man what he thought stocks would do next, J.P. Morgan "never hesitated for a moment. He transfixed the neophyte with his sharp glance and replied 'They will fluctuate, young man, they will fluctuate.' And so they will." Robert Sobel died in 1999 at the age of 68. A professor at Hofstra University for 43 years, he was a prolific historian of American business, writing or editing more than 50 books. This book may be ordered by calling 888-563-4573 or by visiting www.beardbooks.com or through your favorite Internet or local bookseller. ********* 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. The list includes links to freely downloadable images of these small-dollar petitions in Acrobat PDF format. Each Friday's edition of the TCR includes a review about a book of interest to troubled company professionals. All titles are available at your local bookstore or through Amazon.com. Go to http://www.bankrupt.com/books/to order any title today. Monthly Operating Reports are summarized in every Saturday edition of the TCR. The Sunday TCR delivers securitization rating news from the week then-ending. TCR subscribers have free access to our on-line news archive. Point your Web browser to http://TCRresources.bankrupt.com/and use the e-mail address to which your TCR is delivered to login. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter is a daily newsletter co-published by Bankruptcy Creditors Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Philadelphia, Pa., USA. Randy Antoni, Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Joel Anthony G. Lopez, Psyche A. Castillon, Ivy B. Magdadaro, Carlo Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors. Copyright 2026. All rights reserved. ISSN: 1520-9474. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. 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