Tag Archives: US Securities & Exchange Commission

Premier Exhibitions

Premier Exhibitions Update

Premier Exhibitions has filed  monthly operating reports from 1 Dec 2016-20 Dec 2016 with the Bankruptcy Court and with U.S. Securities and Exchange Commission(SEC). Due to being in bankruptcy, the usual reporting to SEC has been suspended for Forms 10-K and 10-Q. Copies of the monthly operating reports submitted to the Bankruptcy Court will be reported to the SEC in Form 8-K

January 26, 2017
Premier Exhibitions 8-K:
https://www.sec.gov/Archives/edgar/data/796764/000117184317000473/f8k_012517.htm

List of Exhibits 99.1-99.8
https://www.sec.gov/Archives/edgar/data/796764/000117184317000473/0001171843-17-000473-index.htm

It is dry stuff to read but it is important to read these materials to know what is going on. Pretty sure even the attorneys and accountants who go over this stuff have their eyes glaze over as well.


Premier Exhibitions, Titanic

Premier Exhibitions Update:Wants to Monetize 1987 Artifacts

PremierExhibitionslogoIn a recent report to the U.S. Securities & Exchange Commission (SEC), Premier Exhibitions reported:

“On June 20, 2016, the Company filed a number of motions in the Bankruptcy Court. Among the motions filed was a motion seeking permission to sell a portion of the Titanic artifacts awarded to the Company pursuant to a 1993 French administrative decree, which are from time to time referred to as the 1987 Artifacts in Company filings. At this time the Company does not know when the Bankruptcy Court will rule on this motion, and does not know the likely outcome of the motion.”

Since those artifacts are not part of the salvage award decision in the U.S., those stringent conditions imposed for sale do not apply here.

Source:
Premier Exhibitions (2016, June 20)Form 8-K
https://www.sec.gov/Archives/edgar/data/796764/000117184316010750/f8k_062016.htm


Premier Exhibitions

Premier Exhibitions Obtains $5M Loan

PremierExhibitionslogoPremier Exhibitions has filed a required Form 8-K with the U.S. Securities and Exchange Commission detailing the loan agreement. The total loan sum is $5m and requires the company take out $1m before 10 Dec 2015. A second draw of $1m is available upon written notice before 18 Dec 2015. And a third draw of $1m can be obtained before 31 Dec 2015. An additional $2m is available but only at the discretion of the lenders. The unpaid amount accrues a 12% annual interest rate and can be prepaid at any time (but requires you pay 105% of principal amount). Yanzi Gao, agent for the lenders, signed the agreement. According to the papers filed with the agency, the names of the lenders are: Jihe Zhang, High Nature Holdings Limited, and Lange Feng. Repayment is required by 1 Aug 2017.

Sources:
Premier Exhibitions, Form 8K, 9 Dec 2015
Premier Exhibitions, Exhibit A-Form 8K,9 Dec 2015