EX-99.1 2 ex99-1.htm EXHIBIT 99.1 ex99-1.htm

Exhibit 99.1

 

OFFICE OF THE UNITED STATES TRUSTEE - REGION 3
POST-CONFIRMATION QUARTERLY SUMMARY REPORT

 

This Report is to be submitted for all bank accounts that are presently maintained by the post confirmation debtor.

 

Debtor's Name: Nuo Therapeutics, Inc.                                                             Bank: Capital One

 

Bankruptcy Number: 16-10192 (MFW)                                                            Account Number: All accounts


 

Date of Confirmation: May 5, 2016 (Effective Date)                                        Account Type: checking (operating), money market, CD

 

 

Reporting Period (month/year): October 1, 2016 – December 31, 2016

 

Beginning Cash Balance:

$

3,928,729

 

All receipts received by the debtor:

   
   

 

Cash Sales:

$

22,965

Collection of Accounts Receivable:

$

637,699

Proceeds from Litigation (settlement or otherwise):

$

0

Sale of Debtor's Assets:

$

100,000

Capital Infusion pursuant to the Plan:

$

0

Total of cash received:

$

760,664

 

 

Total of cash available:                                                                                                                                                                                                                                                                                                                                                                                                $    4,689,393

      

Less all disbursements or payments (including payments made under the confirmed plan) made by the Debtor:

 

Disbursements made under the plan, excluding the administrative

claims of bankruptcy professionals:                                                                                                                                                                                                                                                                                                                               $             4,172

 

Disbursements made pursuant to the administrative claims of

bankruptcy professionals:                                                                                                                                                                                                                                                                                                                                               $                   0

 

All other disbursements made in the ordinary course:                                                                                                                                                                                                                                                                                                                      $     2,011,708

 

Total Disbursements                                                                                                                                                                                                                                                                                                                                                                                                    $     2,015,880

 

Ending Cash Balance                                                                                                                                                                                                                                                                                                                                                                                                                     $     2,673,513

 

Pursuant to 28 U.S.C. Section 1746(2), I hereby declare under penalty of perjury that the foregoing is true and correct to the best of my knowledge and belief.

 

 

01-31-2017                                                                             /s/ David E. Jorden                    

Date                                                                                        David E. Jorden - CEO/CFO

 

Debtor: Nuo Therapeutics, Inc.
Case Number: 16-10192

 

 

 

 

 

 

In re Nuo Therapeutics, Inc.

 

Case No. 16-10192 (MFW)

Debtor

 

   Reporting Period: December 31, 2016

 

 

 

 

QOR

CONSOLIDATED BALANCE SHEET (UNAUDITED) 1

 

 

Line item

 

Current period

 
         

ASSETS

       

Current assets

       

Cash and cash equivalents and restricted cash

    2,673,513  

Accounts receivable

    101,054  

Other receivables

    576,069  

Inventory

    75,358  

Deposits

    170,229  

Prepaid expenses

    230,071  

Deferred costs, current portion

    -  
         

Total current assets

    3,826,294  
         

Property, plant and equipment

       

Aurix centrifuges

    405,096  

Computer and office equipment

    17,436  

Furniture and fixtures

    31,452  

Production equipment

    34,899  

Leasehold improvements

    404,265  

Software

    257,619  

Less: Accumulated depreciation

    (664,651 )
         

Net property, plant and equipment

    486,116  
         

Other assets

       

Investment, Aldagen 1

    -  

Intangible assets, net of accumulated amortization

    7,840,408  

Goodwill

    2,079,284  

Other long-term assets

    278,730  
         

Total other assets

    10,198,422  
         

TOTAL ASSETS

    14,510,832  
         

LIABILITIES AND OWNERS' EQUITY

       

Liabilities not subject to compromise

       

Accounts payable

    410,553  

Accrued compensation and benefits

    90,374  

Accrued expenses

    836,323  

Accrued taxes

    18,655  

Customer deposits

    -  

Other long-term liabilities

    123,434  
         

Total liabilities not subject to compromise

    1,479,339  
         

Liabilities subject to compromise

       

Accounts payable

    27,799  

Accrued compensation and benefits

    -  

Accrued expenses

    612  

Accrued taxes

    16,722  

Customer deposits

    70,737  

Other long-term liabilities

    -  
         

Total liabilities subject to compromise

    115,870  
         

Shareholders' equity

       

Common stock

    993  

Preferred Stock

    3  

Additional paid-in capital

    18,105,657  

Retained earnings / (losses), post-emergence

    (5,191,030 )
         

Total shareholders' equity

    12,915,623  
         

TOTAL LIABILITIES AND OWNERS' EQUITY

    14,510,832  

 

1. The accounting systems are not principally designed to produce reports that are consistent with the requirements of the Office of the United States Trustee. The numbers presented in this schedule are subject to change as additional information is made available. The information contained herein is provided to fulfill the requirements of the Office of the United States Trustee. All information contained herein is unaudited, subject to future adjustments and should not be considered as consistent with generally accepted accounting principles (GAAP). NOTE: The unaudited balance sheet reported for December 31, 2016, includes the accounts of Nuo Therapeutics, Inc. and its wholly-owned and controlled subsidiary Aldagen, Inc. ("Aldagen"). All significant inter-company accounts and transactions have been eliminated in consolidation.