Point 360 fka PTSXQ

[PennystockID2017]

PTSXQ NEWS:

http://www.4-traders.com/POINT-360-19344068/
Point : Point.360

04/10/2018 | 12:00am EDT
Point.360 Extension Approved -- The U.S. Bankruptcy Court approved Point.360's motion for an order extending the plan/disclosure statement filing deadline from April 1, 2018 to May 8, 2018. As previously reported, "The Debtor intends to seek approval of a disclosure statement and confirmation of a plan of reorganization that will be designed to pay allowed claims and interests. The Debtor intends to utilize the proceeds of its business plan to allocate pro rata payments to its unsecured creditors, after paying priority and administrative claims in full. The Debtor intends to propose a disclosure statement and plan of reorganization based on appropriate projections with respect to its anticipated revenues over the course of the next three to five years. Debtor's current plan and disclosure statement filing deadline set at the December 14, 2017 case status hearing is April 1, 2018, subject to extension for cause shown. Debtor now requires an extension of the current plan and disclosure statement filing deadline based on three (3) material matters that remain incomplete at this time. The requested plan and disclosure statement filing extension will reconcile the plan filing deadline with the May 8, 2018 exclusivity expiration and allow the pending plan development matters to be brought before the Court.... Debtor is working to complete its Empire settlement toward eliminating a $1 million claim in the estate. A claim of that magnitude impacts overall plan distributions and plan structuring. Debtor believes that completing and proposing the Empire settlement for Court approval before filing its plan will avoid unnecessary plan amendments in due course."

© Copyright © 2018 New Generation Research, Inc, All rights reserved., source Journals

Point : Point.360
03/27/2018 | 12:00am EDT
Point.360 Committee Appointed -- The U.S. Trustee assigned to the Point.360 case appointed an official committee of unsecured creditors. The following members will serve on the committee: Eric Johnson of Media Storage Group, Jeremy Stewart of Sub- Techs and Bobby Zahabizadeh of Messengers.

© Copyright © 2018 New Generation Research, Inc, All rights reserved., source Journals

Point 360 : Financial Reports - Point.360
03/18/2018 | 11:00pm EDT
Point.360 M.O.R. Filed -- Point.360 filed with the U.S. Bankruptcy Court a monthly operating report for February 2018. For the month, the Debtors reported a net loss of $383,863 on $1.8 million net sales and $798,449 in total operating expenses. Debtors' cash at the beginning of February 2018 was $367,481 and $205,653 at the end of month, with cash disbursements of $10.8 million on $11.2 million in cash receipts during the month.

© Copyright © 2018 New Generation Research, Inc, All rights reserved., source Journals


Point : Point.360

03/11/2018 | 11:00pm EDT
Point.360 Extension Sought -- Point.360 filed with the U.S. Bankruptcy Court a motion for an order extending the plan and disclosure statement filing deadline from April 1, 2018 to May 8, 2018. The motion states, "The Debtor intends to seek approval of a disclosure statement and confirmation of a plan of reorganization that will be designed to pay allowed claims and interests. The Debtor intends to utilize the proceeds of its business plan to allocate pro rata payments to its unsecured creditors, after paying priority and administrative claims in full. The Debtor intends to propose a disclosure statement and plan of reorganization based on appropriate projections with respect to its anticipated revenues over the course of the next three to five years. Debtor's current plan and disclosure statement filing deadline set at the December 14, 2017 case status hearing is April 1, 2018, subject to extension for cause shown. Debtor now requires an extension of the current plan and disclosure statement filing deadline based on three (3) material matters that remain incomplete at this time. The requested plan and disclosure statement filing extension will reconcile the plan filing deadline with the May 8, 2018 exclusivity expiration and allow the pending plan development matters to be brought before the Court...Debtor is working to complete its Empire settlement toward eliminating a $1 million claim in the estate. A claim of that magnitude impacts overall plan distributions and plan structuring. Debtor believes that completing and proposing the Empire settlement for Court approval before filing its plan will avoid unnecessary plan amendments in due course."

© Copyright © 2018 New Generation Research, Inc, All rights reserved., source Journals

Point 360 : Financial Reports - Point.360
Point.360 M.O.R. Filed -- Point.360 filed with the U.S. Bankruptcy Court a monthly operating report for January 2018. For the month, the Debtors reported an $80,439 net loss on $2.6 million net sales and $1.2 million in total operating expenses. Debtors' cash at the beginning of January 2018 was $386,831 and $367,481 at the end of month, with cash disbursements of $4.4 million on $4.3 million in cash receipts during the month.

© Copyright © 2018 New Generation Research, Inc, All rights reserved., source Journals