|
Your weekly dose of actionable deal flow intelligence by DailyDAC.
|
|
|
|
By DailyDAC™ • Issue #44 • April 27, 2022
A curation of actionable deal flow intelligence using some very proprietary sources, some public (but dispersed) data and a lot of spit & vinegar.
|
|
|
|
Buy, Sell, or Hold Recommendation Issued |
|
|
|
- DailyDAC initiated coverage of Esports Entertainment Group, Inc. (NASDAQ: GMBL) as ID #32685 on April 17, 2022, when the stock price was $0.63. GMBL describes itself as "a full-stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations." On April 11, 2022 GMBL received a deficiency notification letter from Nasdaq indicating that the company was not in compliance with Nasdaq Listing Rule 5550(a)(2), as the bid price for the company’s common stock had closed below $1.00 per share for the previous 30 consecutive business days. In fact, GMBL stock price has declined fairly steadily from its peak of around $44 shortly after its 2017 IPO to $0.62 on April 21, 2022 except for a brief spike in February 2021 when it hit a high of $16.50 (prior to then it had never exceeded $8 per share) when its expansion plans were widely reported on.
- GMBL has a tremendous capacity to increase its earnings as a result of having executed a number of strategic acquisitions. However, its losses coupled with the debt it incurred in making those acquisitions leaves GMBL in a precarious situation. Even after issuing new shares at $1 each, it still must find a way to refinance significant short term debt. DailyDAC recommends investors HOLD GMBL. Issued on April 22, 2022. Deal ID: 33243
- DailyDAC initiated its coverage of Chembio Diagnostics Inc. (NASDAQ: CEMI) on April 17, 2022 as ID #33170, at which time CEMI's stock price was $0.76. It closed at $0.67 on April 22, 2022. CEMI is a leading point-of-care diagnostics company focused on detecting and diagnosing infectious diseases. Its patented DPP technology platform, which uses a small drop of blood from the fingertip, provides high-quality, cost-effective results in 15-20 minutes. Its products are sold globally, directly, and through distributors, to hospitals and clinics, physician offices, clinical laboratories, public health organizations, government agencies, and consumers. CEMI had been as high as $7.34 in the prior 12-months and as high as $15 in the prior 24-months. Aside from these and a handful of other surges, however, CEMI has traded mostly between about $1 and $5 since at least 2003 and has lost money every year since 2014 and has survived by issuing new stock and borrowings. At its current price, DailyDAC recommends investors HOLD. Issued April 24, 2022. Deal ID: 33245
- DailyDAC initiated coverage of TuSimple (Nasdaq: TSP) on April 15, 2022 when its stock price was $11.20. Its 52-week high as of that date was $79.84. The share price had plunged on March 2, 2022, after CTO Xiaodi Hou unexpectedly replaced Cheng Lu as CEO, and reached a low of $8.85 on March 14. It has since recovered to $10.05 as of April 22, 2022. The new CEO (a cofounder) has a PhD in computational and neural systems from California Institute of Technology (2014), but he has little financial or management experience. However, we find CFO Patrick Dillon to be very impressive, having spent 10 years as an investment banker at Morgan Stanley, co-leading its coverage of vehicle technology companies. Since its IPO in April 2021, TSP has yet to achieve positive earnings. TuSimple has been successfully testing retro-fitted autonomous trucks and has entered into a non-binding JV partnership with Navistar to produce and sell autonomous trucks in the USA, and roll out TSP's "autonomous freight network" (AFN), by 2023. Because we feel comfortable with TSP's capital structure and short-term debt management, DailyDAC issued a "BUY" recommendation on April 24, 2022. Deal ID: 33246
- Circor (NYSE: CIR) is one of the world’s leading providers of mission critical flow control products and services for the Industrial and Aerospace & Defense markets. The Company has a product portfolio of market-leading brands serving its customers’ most demanding applications. CIRCOR markets its solutions directly and through various sales partners to more than 14,000 customers in approximately 100 countries. The Company has a global presence with approximately 3,100 employees and is headquartered in Burlington, Massachusetts. DailyDAC initiated coverage of CIR as ID #32740 on March 15, 2022, the day after CIR's stock price rose 15% to $27.01 on March 14, 2022, which interestingly was the day after CIR disclosed accounting irregularities related to its pipeline engineering unit. DailyDAC reported then that CIR had disclosed that its board received multiple inquiries from parties interested in acquiring CIR, and the stock closed at $27.53 on March 15, 2022. Moody's, the same day, placed CIR's on review for downgrade. CIR is down further since then, and closed at $23.74 on April 24, 2022, which equated to the price being down just about 32% in the past 12-months. We see upside potential and see little downside risk at the current price level. DailyDAC recommends investors BUY. Issued April 24, 2022. Deal ID: 33247
|
|
|
|
Assignment for Benefit of Creditors - Sales |
|
|
|
- Anti Apparel Group, LLC. Assignment for Benefit of Creditors. Located in Cobb County, Georgia, the sale will consist of real property located at 655 Laurel Wood Drive, SW, Marietta, GA 30064 that is valued at $370,300 by Relator.com. The sale will be held on May 3, 2022. More info: Assignee Weinberg Servicing, LLC or Monica L. Vining of Ernst Legal Group @ (678) 392-3860 or info@ernstlegal.com. Deal ID: 33237
|
|
|
|
- Hummus Bistro. Restaurant. Bulk Sale. The name and business address of the Seller is Fillfull, Inc, 587 N Ventu Park Rd, Thousand Oaks, California 91320. The name and address of the Buyer is Hua Chen, 587 N Ventu Park Rd, Thousand Oaks, California 91320. The assets to be sold are generally described as all stock in trade, furniture, fixtures, equipment, and goodwill. The anticipated date of the bulk sale is May 9, 2022. More info: Capitol City Escrow, Inc. located at 3838 Watt Avenue, Suite F-610 Sacramento, California 95821-2665. Deal ID: 33205
- Dasom Bakery. Bakery. Bulk Sale. The name and business address of the Seller is Dasom Bakery Inc., 5331 University Drive, Irvine, California 92612. The name and business address of the Buyer is Jasper Seng Shin, 128 Hedge Bloom, Irvine, California 92618. The assets to be sold are generally described as FF&E, goodwill, trade name, leasehold interest, leasehold improvements, covenant not to compete, inventory of stock in trade. The anticipated date of the bulk sale is May 6, 2022. More info: US Escrow, Inc. located at 4130 W. Commonwealth Ave., #B, Fullerton, California 92833. Deal ID: 33206
- The Ups Store. Packaging company. Bulk Sale. The name and business address of the Seller is Martin Konopaski, 203 Flamingo Road, Mill Valley, California 94941. The name and business address of the Buyer is Matthew Jones, 57 Fairway Drive, Mill Valley, California 94941. The assets to be sold are generally described as FF&E, goodwill, name of business, inventory/volume of business. The anticipated date of the bulk sale is May 10, 2022. More info: Stewart Title of California, Inc. located at 611 Gateway Blvd Unit 256, South San Francisco, California 94080. Deal ID: 33210
- K S Market. Grocery store. Bulk Sale. The name and business address of the Seller is K&N Sekhon, Inc., 16 E. Sierra Avenue, Portola, California 96122. The name and business address of the Buyer is Portola Fuels, LLC, 16 E. Sierra Avenue, Portola, California 96122. The assets to be sold are generally described as all stock in trade, furniture and equipment. The anticipated date of the bulk sale is May 12, 2022. More info: Becky Schroer of Bidwell Title & Escrow Co., located at 500 Wall Street, Chico, California 95928. Deal ID: 33222
- Teriyaki Junction. Restaurant. Bulk Sale. The name and business address of the Seller is Mi Hwangbo, 1216 Broadway #B, Placerville, California 95667. The name and business address of the Buyer is Richard Trung Ly, 4190 San Ramon Way, San Jose, California 95111. The assets to be sold are generally described as all stock in trade, furniture, fixtures, equipment and goodwill. The anticipated date of the bulk sale is May 5, 2022. More info: Capitol City Escrow, Inc. located at 3838 Watt Avenue, Suite F-610 Sacramento, California 95821-2665. Deal ID: 33223
- Rudy’s Plumbing & Heating. Fireplace store. Bulk Sale. The name and business address of the Seller is Cloutier Enterprises, Inc., 800 Emerald Bay Road, Suite G, South Lake Tahoe, California 96150. The name and business address of the Buyer is ACW Mechanical of Northern California Inc, 1300 Sacramento Street, Suite 301, San Francisco, California 94109. The assets to be sold are generally described as fixtures, equipment, inventory and all business assets. The anticipated date of the bulk sale is May 4, 2022. More info: Bay Area Escrow Services located at 2817 Crow Canyon Rd, Street 102, San Ramon, California 94583. Deal ID: 33225
- Luchow's Palm Springs. Restaurant. Bulk Sale. The name and business address of the Seller is My Tree Enterprises LLC, 30312 San Luis Ray Dr, Cathedral City, California 92234. The name and business address of the Buyer is Daniel L Gore, 952 Village Square South, Palm Springs, California 92262. The assets to be sold are generally described as fixtures and equipment. The anticipated date of the bulk sale is May 2, 2022. More info: The Escrow Connection located at 1111 East Tahquitz Canyon Way, Suite 101, Palm Springs, California 92262-6789. Deal ID: 33226
- Mailboxes N More. Mailbox services. Bulks Sale. The name and business address of the Seller is Wayne D. Richards, 1001 Bridgeway, Suite A-1, Sausalito, California 94965. The name and business address of the Buyer is Alfred Baker, 1001 Bridgeway #432, Sausalito, California 94965. The assets to be sold are described in general as leasehold improvements, goodwill, inventory of stock, accounts receivable, work in progress, furniture, fixtures, and equipment. The anticipated date of the bulk sale is May 10, 2022. More info: Debbie Kneeshaw Howe of The Heritage Escrow Company located at 2550 Fifth Avenue, Suite 800, San Diego California 92103. Deal ID: 33227
|
|
|
|
Chapter 7 Bankruptcy - 363 Sales |
|
|
|
- Johnson Residential, LLC. Real estate company. Chapter 7 Bankruptcy 363 Motion filed. In re Johnson Residential, LLC. Case number 5:22-bk-00412 (filed in the Middle district of Pennsylvania). A motion was granted on April 18, 2022 to sell property 302 Route 507, Tafton, Pike County, PA 18464 for the sum of $495,000. The debtor’s address is 706 Monroe St. Stroudsburg, PA 18360. More info: Trustee John J. Martin of Law Offices John J. Martin @ (570) 253-6899. Deal ID: 33251
|
|
|
|
Chapter 7 Filings Involving Companies With Significant Assets |
|
|
|
- Passafaro Nova Ninja LLC. Fitness company. Chapter 7 Bankruptcy Filing Involving Companies With Significant Assets. Case number 1:22-bk-10486 (case filed April 21, 2022 in the Eastern District of Virginia). Debtor’s address is 20099 Ashbrook Pl Ste 145 Ashburn, VA 20147-3370. It has a robust and well-developed website, on which it says it has a second location in Sterling, VA. On the site, it advertises various types of training programs, events, parties, and camps. More info: Debtor’s counsel Jonathan Baird Vivona of Vivona Pandurangi, PLC @ (703) 739-1353 or jvivona@vpbklaw.com. Deal ID: 33267
- Evest Technolgy, LLC. Tech company. Chapter 7 Bankruptcy Filing Involving Companies With Significant Assets. Case number 3:22-bk-00796 (case filed April 21, 2022 in the Middle District of Florida). Debtor’s address 601 McKenzie Oak Ln, Saint Augustine, FL 32095-6861. eVest possesses a well-maintained website, on which it says that it can offer, “A Unique Turn-Key Solution for Syndicating Capital” as well as automating fundraising. It services industries such as real estate, cannabis, motion picture, energy, funds, technology, oil and gas, and motion pictures. More info: Debtor’s counsel Nina M LaFleur of Lafleur Law Firm @ (904) 797-7995 or nina@lafleurlaw.com. Deal ID: 33264
- Gateway Construction Company, LLC. Construction company. Chapter 7 Bankruptcy Filing Involving Companies With Significant Assets. Case number 1:22-bk-52919 (case filed April 14, 2022 in the Northern District of Georgia, Judge Jeffery W Cavender). The debtor’s address is 3645 Marketplace Blvd Ste 130-576 Atlanta, GA 30344-5747. Firm has been operational for 50 years, has a functional website, and a set of good reviews on Google. More info: Debtor’s counsel William A. Rountree of Rountree Leitman & Klein, LLC @ (404) 584-1244 or wrountree@rlklawfirm.com. Deal ID: 33255
- MoJEAUX Productions, LLC. Entertainment company. Chapter 7 Bankruptcy Filing Involving Companies With Significant Assets. Case number 2:22-bk-10413 (case filed April 19, 2022 in the Eastern District of Louisiana, Judge Meredith S Grabill). The debtor’s address is 5609 Flagler St Metairie, LA 70003-2145. A group of entertainers founded the company in 2007, and appears to have a fairly large following, with thousands of followers between their social media accounts. More info: Debtor’s counsel Evan Park Howell, III of Law Office Of Evan Howell @ (504) 343-4346 or ehowell@ephlaw.com. Deal ID: 33257
- Beyond Fuel Systems, LLC. Gasoline/fuel dispenser parts company. Chapter 7 Bankruptcy Filing Involving Companies With Significant Assets. Case number 6:22-bk-60217 (case filed April 19, 2022 in the Western District of Missouri, Judge Cynthia A Norton). Debtor’s address P.O. Box 470, Marshfield, MO 65706. Appears to offer a robust selection of gasoline pump parts as well as other fuel dispensing equipment. More info: Debtor’s counsel Jon M. Gold of Reynolds & Gold, LLC @ (417) 883-7800 or jon@reynoldsandgoldlaw.com. Deal ID: 33261
|
|
|
|
Exploring Strategic Alternatives / Out-of-Court Restructuring Action / Cash Constraints |
|
|
|
- Finch Therapeutics (NASDAQ: FNCH). Biotech company. Out-of-Court Restructuring. FNCH is eliminating 37 employees, totaling about 20% of its workforce. These layoffs come following FNCH’s restructuring efforts after the FDA placed a hold on two of its drug applications. FNCH closed at $2.76 on April 22, 2022. As of that date, FNCH’s 52 week high was $20.10 with a 52 week low of $2.66. Deal ID: 33244
- Zentek (NASDAQ: ZTEK). Nanomaterials company. Exploring Strategic Alternatives. ZTEK announced on April 18, 2022 that it has engaged a financial adviser, The Benchmark Company, LLC, to evaluate strategic alternatives. ZTEK has been approached by multiple entities about one of its assets, the Albany Deposit. The Benchmark Company, LLC is exploring options related to the deposit. ZTEK closed at $2.44 on April 22, 2022. As of that date, ZTEK’s 52 week high was $5.95 with a 52 week low of $1.46. Deal ID: 33216
- Southwest Gas (NYSE: SWX). Utility company. Exploring Strategic Alternatives. SWX announced on April 18, 2022 that its board has authorized the review of strategic alternatives to maximize shareholder value. This announcement comes following continued interest above Carl Icahn's tender offer of $82.50 per share. SWX closed at $90.26 on April 22, 2022. As of that date, SWX’s 52 week high was $90.71 with a 52 week low of $62.54. Deal ID: 33217
- Vallon Pharmaceuticals (NASDAQ: VLON). Pharmaceutical company. Exploring Strategic Alternatives. VLON announced on April 22, 2022 that it has engaged a financial adviser, Ladenburg Thalmann & Co. Inc., to evaluate strategic alternatives. The purpose of this review is to maximize shareholder value. Alternatives could include a possible merger, business combination, investment, or other acquisition. VLON’s lead product candidate, ADAIR, is a novel abuse-deterrent formulation developed for the treatment of ADHD and narcolepsy. VLON closed at $2.27 on April 22, 2022. As of that date, VLON’s 52 week high was $10.36 with a 52 week low of $1.13. Deal ID: 33218
- Cummins, Inc (NYSE: CMI). Engine, filtration, and power generation corporation. Exploring Strategic Alternatives. After announcing the exploration of strategic alternatives for its filtration business in August of 2021, CMI announced on April 21, 2022 that it confidentially filed paperwork regarding an IPO for its filtration business. CMI closed at $199.20 on April 22, 2022. As of that date, CMI’s 52 week high was $273.65 with a 52 week low of $189.50. Deal ID: 33248
|
|
|
|
- Chick-fil-A, Franklin Square. Fast food restaurant. Facility Closings. Chick-fil-A Franklin Square is permanently closing its 3350 E. Franklin Blvd. facility located in Gastonia, North Carolina 28056. Approximately 117 employees will be laid off on June 15, 2022. Deal ID: 33228
- PepsiCo, Inc. Food, snack and beverage company. Facility Closings. PepsiCo, Inc. is permanently closing its 617 W. Main Street facility located in Barrington, Illinois 60010. Approximately 212 employees will be laid off on June 24, 2022. Deal ID: 33200
- Lincoln College-Normal Campus. Educational services. Facility Closings. Lincoln College-Normal Campus is closing its 715 W. Raab Road facility located in Normal, Illinois 61761. Approximately 36 employees will be laid off on May 13, 2022. Deal ID: 33201
- McDaniel Technical Services, Inc. Engineering firm. Facility Closings. McDaniel Technical Services, Inc. is permanently closing its 10 North Senate Avenue facility located in Indianapolis, Indiana 46204-2277. Approximately 78 employees will be laid off on May 31, 2022. Deal ID: 33202
- SSB Manufacturing Company. Manufacturer. Facility Closings. SSB Manufacturing Company is permanently closing its 500 South 17th St facility located in Clear Lake, Iowa. Approximately 86 employees will be laid off on June 30, 2022. Deal ID: 33207
- Jabil Inc. Manufacturer. Facility Closings. Jabil Inc. is permanently closing its 400 N Harvey Rd facility located in Mount Pleasant, Iowa. Approximately 67 employees will be laid off on June 30, 2022. Deal ID: 33208
- DFA Dairy Brands. Dairy farm. Facility Closings. DFA Dairy Brands is permanently closing its 7631 Jefferson Avenue facility located in Hyattsville, Maryland 20785. Approximately 42 employees will be laid off on June 12, 2022. Deal ID: 33209
- Sodexo. Hospitality company. Facility Closings. Sodexo is permanently closing its 100 South Main Street facility located in Boiling Springs, North Carolina 28017. Approximately 83 employees will be laid off on May 8, 2022. Deal ID: 33229
- Sante Fe Natural Tobacco Company, Inc. Tobacco company. Facility Closings. Sante Fe Natural Tobacco Company, Inc. is permanently closing its 3220 Knotts Grove Road facility located in Oxford North Carolina 27565. Approximately 114 employees will be laid off on August 2, 2022. Deal ID: 33231
- Mity-Lite. Manufacturer. Facility Closings. Mity-Lite is permanently closing its 101 Motivational Dr. facility in Lawrenceburg, Tennessee 38464. Approximately 54 employees will be laid off on April 22, 2022. Deal ID: 33232
|
|
|
|
- Akebia Therapeutics, Inc. Biotech company. Mass Layoffs. Akebia Therapeutics, Inc. is eliminating 181 positions at its 245 First Street facility in Cambridge, Massachusetts. Layoffs will begin on April 15, 2022. Deal ID: 33211
- Durham School Services. Educational services. Mass Layoffs. Durham School Services is eliminating 181 positions at its 42A Harlow Street facility in Worcester, Massachusetts 01605. Layoffs will begin on June 20, 2022. Deal ID: 33212
- Hilsinger Company Parent, LLC. Machinery manufacturer. Mass Layoffs. Hilsinger Company Parent, LLC is eliminating 75 positions at its 33 W Bacon Street facility in Plainville, Massachusetts 02762-2418. Layoffs will begin on June 24, 2022. Deal ID: 33214
- Noble People LLC. Healthcare. Mass Layoffs. Noble People LLC is eliminating 181 positions at two of its facilities at 10 S. Hospital Drive, Fulton, Missouri 65251 and at 620 E Monroe Street, Mexico, Missouri 65265. Layoffs will begin on May 1, 2022. Deal ID: 33215
- Waupaca Foundry, Inc. Iron foundry. Mass Layoffs. Waupaca Foundry, Inc. is eliminating 540 positions at its 134 Waupaca Drive facility in Etowah, Tennessee 37331. Layoffs will begin on June 14, 2022. Deal ID: 33233
- Crothall Healthcare. Support services. Mass Layoffs. Crothall Healthcare is eliminating 91 positions at its 736 North Battlefield Boulevard facility in Chesapeake, Virginia 23320. Layoffs will begin on June 30, 2022. Deal ID: 33260
|
|
|
|
Opportunistic Intelligence About Private Sales Not Listed in Other Categories |
|
|
|
(Noteworthy Non-Distressed Auctions, Private Business Sales, Private Personal Property Sales, Private Real Estate Sales, Overstocks/Obsolete Inventory, and Other Interesting Sales Without a Legal Process) |
|
|
|
- Aquatic Pets and Reptiles. Pet supply store. Private Business Sale. Aquatic Pets and Reptiles in Clovis, California is closing their reptile section. The sale includes reptiles, fixtures, tanks, and supplies. More info: Aquatic Pets and Reptiles @ (559) 298-4549. Deal ID: 33249
- Bryan Family Farm LLC. Real Estate. The farm is located at E 1100 S90 Wells, Bluffton, IN 46714, and includes 26.67 acres of land. A key feature of the property is timber, 23.5 acres of the property is wooded area. Real property will be auctioned online on May 10, 2022 at 8 am EST. More info: here or Rick Johnloz of Halderman Real Estate & Farm Management @ (800) 424-2324. Deal ID: 33242
|
|
|
|
Rating Agency Alerts/Going Concern Opinions/Stock Market Delisting/Other Signs of Potential Distress OR Upside Alpha Opportunity™ |
|
|
|
- Anglo American (OTCMKTS: NGLOY). Mining company. Rating Agency Alerts. Global investment bank RBC Capital Markets downgraded NGLOY after the company made cuts to its full year guidance. NGLOY has been transparent about their lower production and higher costs as a result of issues with Covid-19, weather, and a fatal accident. NGLOY is also seeing a change in management as their CEO Mark Cutifani will be replaced by its head of business development and strategy, Duncan Wanblad. NGLOY closed at $22.03 on April 22, 2022. As of that date, NGLOY’s 52 week high was $27.80 with a 52 week low of $16.75. Deal ID: 33219
- Allarity Therapeutics, Inc. (NASDAQ: ALLR). Pharmaceutical company. Stock Market Delisting. On April 20, 2022, ALLR received notice of delisting. This notice comes as a result of ALLR’s failure to maintain compliance with a NASDAQ rule requiring timely filing of an annual 10-K report. ALLR closed at $2.02 on April 22, 2022. As of that date, ALLR’s 52 week high was $18.20 with a 52 week low of $1.75. Deal ID: 33240
- ShiftPixy, Inc. (NASDAQ: PIXY). Human capital service provider. Stock Market Delisting. On April 20, 2022, PIXY received notice of delisting for failure to maintain the minimum required market capitalization for an emerging growth company of $2,500,000. PIXY has 45 days from receipt of the notice to regain compliance. PIXY closed at $0.44 on April 22, 2022. As of that date, PIXY’s 52 week high was $4.10 with a 52 week low of $0.43. Deal ID: 33239
- Seelos Therapeutics (NASDAQ: SEEL). Pharmaceutical company. Stock Market Delisting. On April 22, 2022, SEEL received notice of delisting for failure to maintain the minimum price per share of $1.00 for 30 consecutive trading days. SEEL has 180 calendar days, or until October 19, 2022, to regain compliance. SEEL closed at $0.69 on April 22, 2022. As of that date, SEEL’s 52 week high was $6.60 with a 52 week low of $0.67. Deal ID: 33238
- Williams Rowland Acquisition Corp (NYSE: WRAC). Special Purpose Acquisition Company (SPAC). Stock Market Delisting. On April 18, 2022, WRAC received notice of delisting. This notice comes as a result of WRAC’s failure to file an annual 10-K report with the Securities and Exchange Commission. WRAC closed at $10.02 on April 22, 2022. As of that date, WRAC’s 52 week high was $10.12 with a 52 week low of $9.80. Deal ID: 33236
- Gatos Silver, Inc (NYSE: GATO). Silver mining company. Stock Market Delisting. On April 18, 2022, GATO received notice of delisting. This notice comes as a result of GATO’s failure to file an annual 10-K report with the Securities and Exchange Commission. Further, GATO has stated that there were errors in a recent technical report as well as possible overestimations in the existing resource mode. GATO closed at $4.03 on April 22, 2022. As of that date, GATO’s 52 week high was $20.26 with a 52 week low of $2.68. Deal ID: 33235
- LMP Automotive Holdings (NASDAQ: LMPX). Automotive dealer. Stock Market Delisting. On April 19, 2022, LMPX received notice of delisting for failure to file an annual 10-K report as required by the Securities and Exchange Commission. LMPX has 180 days from the due date of the Form 10-K to regain compliance. LMPX closed at $3.99 on April 22, 2022. As of that date, LMPX’s 52 week high was $20.50 with a 52 week low of $3.35. Deal ID: 33234
|
|
|
|
Receiverships - Commenced |
|
|
|
- Coral Gables Country Club. Country Club. Receivership. A receivership has commenced for Coral Gables Country Club, a country club based in Coral Gables, Florida. On April 13, 2022, Miami-Dade Circuit Court Judge Carlos Lopez appointed retired Judge Joel H. Brown as the receiver for the property and its contents. More info: Freidin Brown, P.A @ (786) 661-1132 or joelb@fblegal.com. Deal ID: 33220
|
|
|
|
Significant Litigation Development Creating Potential Existential Threat |
|
|
|
- Vroom Inc. (NASDAQ: VRM). Online car dealer. Significant Litigation Development. Hundreds of customers have recently filed complaints against VRM, adding to the over 4,700 total complaints. The Texas Department of Motor Vehicles has issued VRM more than 80 violations since 2019, which have led to 59 cease and desist orders. These recent complaints are a result of VRM’s delay in getting titles of ownership to customers. VRM has seen a 167% increase in revenue last year and VRM’s most recent annual filing with the SEC cites “operational challenges” because of its rapid growth. VRM closed at $1.65 on April 22, 2022. It's 52 week high as of that date was $48.80 and its 52 week low as of that date was $1.58. Deal ID: 33221
|
|
|
|
The Fine Print: Your use of the information in DailyDAC, LLC’s Opportunistic Deal Database™ and Distressed Deal Database™, and your right to be a subscriber is strictly conditioned on your acceptance of our terms and conditions.
|
|
|
|
If this email was forwarded to you then the person who sent it violated her or his license and we would appreciate hearing from you.
This email is intended for paying subscribers only. Click here if you would like to subscribe.
|
|
|
|
|
|