Yuma Energy, Inc. filed a motion in the US Bankruptcy Court for the sale of substantially all its assets on April 15, 2020. The debtor seeks the Court’s approval for the sale of its substantially all its assets to the stalking horse bidder. Debtor will select a qualified bidder as stalking horse bidder. To qualify as a qualified bidder, interested parties should submit their bids by May 20, 2020, along with good-faith deposit in the amount of 10% of the cash purchase price. The debtor will select the starting bid. The debtor has scheduled an auction on May 22, 2020. At the auction, the subsequent bids would be in increments of amount to be decided by debtor. The stalking horse bidder would be entitled to a break-up fee of 3% of cash purchase price and expense reimbursement of $0.15 million in case of termination of the asset purchase agreement.