UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
May 21, 2012
Cano Petroleum, Inc.
(Exact name of registrant as specified in its charter)
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Delaware |
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001-32496 |
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77-0635673 |
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(State or other jurisdiction of incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
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6500 North Belt Line Road, Suite 200, Irving, Texas |
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75063 |
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(Address of principal executive |
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(Zip Code) |
Registrant’s telephone number, including area code: (214) 687-0030
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01 Regulation FD.
On May 21, 2012, Cano Petroleum, Inc., a Delaware corporation (the “Company”), filed with the United States Bankruptcy Court for the Northern District of Texas, Dallas Division (the “Bankruptcy Court”) unaudited and unreviewed monthly operating reports for the Company and its direct and indirect subsidiaries (the “Debtors”) for the month ended April 30, 2012 (the “Monthly Operating Reports”). The Monthly Operating Reports are attached to this current report on Form 8-K as Exhibit 99.1 through Exhibit 99.9 and are incorporated herein by reference.
Limitation on Incorporation by Reference:
In accordance with general instruction B.2 of Form 8-K, the information in Item 7.01 of this report, including Exhibit 99.1 through Exhibit 99.9, is furnished pursuant to Item 7.01 and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
99.1 Monthly Operating Report for the month ended April 30, 2012 for Cano Petroleum, Inc.
99.2 Monthly Operating Report for the month ended April 30, 2012 for Cano Petro of New Mexico, Inc.
99.3 Monthly Operating Report for the month ended April 30, 2012 for Ladder Companies, Inc.
99.4 Monthly Operating Report for the month ended April 30, 2012 for Square One Energy, Inc.
99.5 Monthly Operating Report for the month ended April 30, 2012 for Tri-Flow, Inc.
99.6 Monthly Operating Report for the month ended April 30, 2012 for W.O. Energy of Nevada, Inc.
99.7 Monthly Operating Report for the month ended April 30, 2012 for WO Energy, Inc.
99.8 Monthly Operating Report for the month ended April 30, 2012 for W.O. Operating Company, Ltd.
99.9 Monthly Operating Report for the month ended April 30, 2012 for W.O. Production Company, Ltd.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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CANO PETROLEUM, INC. | |
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Date: May 21, 2012 |
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By: |
/s/ John H. Homier |
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John H. Homier |
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Chief Financial Officer |
INDEX TO EXHIBITS
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Item |
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Exhibit |
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99.1 |
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Monthly Operating Report for the month ended April 30, 2012 for Cano Petroleum, Inc. |
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99.2 |
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Monthly Operating Report for the month ended April 30, 2012 for Cano Petro of New Mexico, Inc. |
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99.3 |
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Monthly Operating Report for the month ended April 30, 2012 for Ladder Companies, Inc. |
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99.4 |
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Monthly Operating Report for the month ended April 30, 2012 for Square One Energy, Inc. |
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99.5 |
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Monthly Operating Report for the month ended April 30, 2012 for Tri-Flow, Inc. |
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99.6 |
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Monthly Operating Report for the month ended April 30, 2012 for W.O. Energy of Nevada, Inc. |
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99.7 |
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Monthly Operating Report for the month ended April 30, 2012 for WO Energy, Inc. |
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99.8 |
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Monthly Operating Report for the month ended April 30, 2012 for W.O. Operating Company, Ltd. |
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99.9 |
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Monthly Operating Report for the month ended April 30, 2012 for W.O. Production Company, Ltd. |
Exhibit 99.1
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Monthly Operating Report |
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CASE NAME: Cano Petroleum, Inc. |
ACCRUAL BASIS |
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CASE NUMBER: 12-31549-bjh-11 |
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JUDGE: Barabara J. Houser |
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UNITED STATES BANKRUPTCY COURT
NORTHERN AND EASTERN
DISTRICT OF
TEXAS
DIVISION 6
MONTHLY OPERATING REPORT
MONTH ENDING: April 30th, 2012
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY): IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
RESPONSIBLE PARTY:
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/s/ John H. Homier |
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CFO |
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ORIGINAL SIGNATURE OF RESPONSIBLE PARTY |
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TITLE |
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John H. Homier |
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5/21/2012 |
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PRINTED NAME OF RESPONSIBLE PARTY |
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DATE |
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PREPARER: |
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/s/ Adrian Lamberti |
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Controller |
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ORIGINAL SIGNATURE OF PREPARER |
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TITLE |
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Adrian Lamberti |
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5/21/2012 |
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PRINTED NAME OF PREPARER |
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DATE |
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Monthly Operating Report |
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CASE NAME: Cano Petroleum, Inc. |
ACCRUAL BASIS-1 |
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CASE NUMBER: 12-31549-bjh-11 |
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COMPARATIVE BALANCE SHEET
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SCHEDULE |
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MONTH |
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MONTH |
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MONTH |
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AMOUNT |
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3/31/2012 |
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April-12 |
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ASSETS |
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1. |
UNRESTRICTED CASH(1) |
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$ |
697,796 |
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$ |
469,004 |
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$ |
141,380 |
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2. |
RESTRICTED CASH |
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3. |
TOTAL CASH |
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$ |
697,796 |
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$ |
469,004 |
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$ |
141,380 |
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$ |
0 |
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4. |
ACCOUNTS RECEIVABLE (NET) |
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5. |
INVENTORY |
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6. |
NOTES RECEIVABLE |
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7. |
PREPAID EXPENSES |
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$ |
908,866 |
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$ |
1,587,434 |
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8. |
OTHER (ATTACH LIST) (2) MOR-1 Exhibit A |
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$ |
350,000 |
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$ |
130,429,890 |
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$ |
129,526,537 |
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9. |
TOTAL CURRENT ASSETS |
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$ |
1,047,796 |
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$ |
131,807,760 |
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$ |
131,255,351 |
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$ |
0 |
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10. |
PROPERTY, PLANT & EQUIPMENT |
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$ |
119,000 |
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$ |
2,390,824 |
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$ |
2,390,824 |
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11. |
LESS: ACCUMULATED DEPRECIATION / DEPLETION |
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$ |
1,739,202 |
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$ |
1,768,061 |
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12. |
NET PROPERTY, PLANT & EQUIPMENT |
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$ |
119,000 |
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$ |
651,622 |
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$ |
622,763 |
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$ |
0 |
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13. |
DUE FROM INSIDERS |
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14. |
OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) |
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15. |
OTHER (ATTACH LIST) |
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16. |
TOTAL ASSETS |
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$ |
1,166,796 |
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$ |
132,459,382 |
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$ |
131,878,114 |
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$ |
0 |
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POSTPETITION LIABILITIES |
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17. |
ACCOUNTS PAYABLE |
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$ |
29,391 |
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$ |
97,343 |
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18. |
TAXES PAYABLE |
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19. |
NOTES PAYABLE |
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20. |
PROFESSIONAL FEES |
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21. |
SECURED DEBT |
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$ |
118,878 |
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$ |
152,188 |
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22. |
OTHER (ATTACH LIST) |
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$ |
825,000 |
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23. |
TOTAL POSTPETITION LIABILITIES |
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$ |
148,269 |
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$ |
1,074,531 |
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$ |
0 |
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PREPETITION LIABILITIES |
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24. |
SECURED DEBT (3)(4) |
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$ |
81,113,359 |
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$ |
81,113,359 |
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$ |
81,034,453 |
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25. |
PRIORITY DEBT |
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$ |
29,306 |
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$ |
29,306 |
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$ |
29,306 |
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26. |
UNSECURED DEBT |
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$ |
1,361,469 |
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$ |
1,361,469 |
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$ |
1,361,469 |
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27. |
OTHER (ATTACH LIST) |
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28. |
TOTAL PREPETITION LIABILITIES |
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$ |
82,504,134 |
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$ |
82,504,134 |
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$ |
82,425,228 |
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$ |
0 |
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29. |
TOTAL LIABILITIES |
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$ |
82,504,134 |
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$ |
82,652,403 |
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$ |
83,499,759 |
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$ |
0 |
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EQUITY |
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30. |
PREPETITION OWNERS’ EQUITY |
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$ |
50,105,888 |
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$ |
50,105,888 |
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31. |
POSTPETITION CUMULATIVE PROFIT OR (LOSS) |
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$ |
(298,909 |
) |
$ |
(1,727,533 |
) |
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32. |
DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) |
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33. |
TOTAL EQUITY |
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$ |
(81,337,338 |
) |
$ |
49,806,979 |
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$ |
48,378,355 |
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$ |
0 |
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34. |
TOTAL LIABILITIES & OWNERS’ EQUITY |
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$ |
1,166,796 |
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$ |
132,459,382 |
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$ |
131,878,114 |
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$ |
0 |
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(1) Cash at filing was listed as $697,795.79, but this total did not include transactions that Bank of Texas had not posted when the balance was obtained online in the afternoon of the day of the filing, March 7th, 2012. The true cash total was $590,434.12 and a reconciliation of the filed balance to the actual balance follows below:
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Balance per filed schedule 03/07/2012 |
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697,795.79 |
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Less Wire payments clearing on 3/7/2012 |
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(65,816.00 |
) | |
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Less Check payments clearing on 3/7/2012 |
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(422.49 |
) | |
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Less ACH payments clearing on 3/7/2012 |
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(41,123.18 |
) | |
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Adjusted balance for bank at 03/07/2012 |
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$ |
590,434.12 |
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(2) Includes consolidated retainer of $250,000 for Thompson & Knight, $40,000 for Blackhill Partners and $66,800.00 for other contract employees
(3) Payment of insurance prepetition balance installments.
(4) For balance sheet purposes, the secured debt for Cano Petroleum, Inc. and its subsidiaries is carried in total by Cano Petroleum, Inc.
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Monthly Operating Report |
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CASE NAME: Cano Petroleum, Inc. |
ACCRUAL BASIS-2 |
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CASE NUMBER: 12-31549-bjh-11 |
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INCOME STATEMENT
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MONTH |
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MONTH |
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MONTH |
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MONTH |
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3/8/2012 to 3/31/2012 |
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April-12 |
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REVENUES |
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1. |
GROSS REVENUES |
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$ |
0 |
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2. |
LESS: RETURNS & DISCOUNTS |
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3. |
NET REVENUE |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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COST OF GOODS SOLD |
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4. |
MATERIAL |
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5. |
DIRECT LABOR |
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6. |
DIRECT OVERHEAD |
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7. |
TOTAL COST OF GOODS SOLD |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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8. |
GROSS PROFIT |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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OPERATING EXPENSES |
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9. |
OFFICER / INSIDER COMPENSATION |
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$ |
20,046 |
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$ |
52,930 |
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10. |
SELLING & MARKETING |
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11. |
GENERAL & ADMINISTRATIVE |
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$ |
117,196 |
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$ |
358,193 |
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12. |
RENT & LEASE |
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$ |
12,553 |
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$ |
11,454 |
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13. |
OTHER (ATTACH LIST) |
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14. |
TOTAL OPERATING EXPENSES |
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$ |
149,795 |
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$ |
422,577 |
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$ |
0 |
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$ |
0 |
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15. |
INCOME BEFORE NON-OPERATING INCOME & EXPENSE |
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$ |
(149,795 |
) |
$ |
(422,577 |
) |
$ |
0 |
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$ |
0 |
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OTHER INCOME & EXPENSES |
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16. |
NON-OPERATING INCOME (ATT. LIST) |
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17. |
NON-OPERATING EXPENSE (ATT. LIST) |
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18. |
INTEREST EXPENSE |
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$ |
118,878 |
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$ |
152,188 |
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19. |
DEPRECIATION / DEPLETION |
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$ |
28,936 |
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$ |
28,859 |
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20. |
AMORTIZATION |
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21. |
OTHER (ATTACH LIST) |
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22. |
NET OTHER INCOME & EXPENSES |
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$ |
147,814 |
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$ |
181,047 |
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$ |
0 |
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$ |
0 |
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REORGANIZATION EXPENSES |
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23. |
PROFESSIONAL FEES (2) |
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$ |
825,000 |
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24. |
U.S. TRUSTEE FEES (1) |
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$ |
1,300 |
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25. |
OTHER (ATTACH LIST) |
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26. |
TOTAL REORGANIZATION EXPENSES |
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$ |
1,300 |
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$ |
825,000 |
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$ |
0 |
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$ |
0 |
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27. |
INCOME TAX |
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28. |
NET PROFIT (LOSS) |
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$ |
(298,909 |
) |
$ |
(1,428,624 |
) |
$ |
0 |
|
$ |
0 |
|
Notes:
(1) Includes Q1 2012 Trustee Fees of $975 for Cano Petroleum Inc. and $325 for Tri-Flow Inc.
(2) Includes estimated expenses for Blackill Partners of $125,000 post petition and $700,000 for Thompson and Knight
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Monthly Operating Report |
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CASE NAME: Cano Petroleum, Inc. |
ACCRUAL BASIS-3 |
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CASE NUMBER: 12-31549-bjh-11 |
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MONTH |
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MONTH |
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MONTH |
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QUARTER |
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3/8/2012 to 3/31/2012 |
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April-12 |
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TOTAL |
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CASH RECEIPTS AND DISBURSEMENTS |
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1. |
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CASH - BEGINNING OF MONTH (1) |
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$ |
590,434 |
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$ |
496,004 |
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RECEIPTS FROM OPERATIONS |
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2. |
|
CASH SALES |
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COLLECTION OF ACCOUNTS RECEIVABLE |
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3. |
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PREPETITION |
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4. |
|
POSTPETITION |
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5. |
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TOTAL OPERATING RECEIPTS |
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$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| |
|
NON-OPERATING RECEIPTS |
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|
|
|
|
|
|
|
| |||||||
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6. |
|
LOANS & ADVANCES (ATTACH LIST) |
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|
|
|
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|
| |||||
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7. |
|
SALE OF ASSETS |
|
|
|
|
|
|
|
|
| |||||
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8. |
|
OTHER (ATTACH LIST) |
|
|
|
|
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9. |
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TOTAL NON-OPERATING RECEIPTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| |
|
10. |
|
TOTAL RECEIPTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| |
|
11. |
|
TOTAL CASH AVAILABLE |
|
$ |
590,434 |
|
$ |
496,004 |
|
$ |
0 |
|
$ |
0 |
| |
|
OPERATING DISBURSEMENTS |
|
|
|
|
|
|
|
|
| |||||||
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12. |
|
NET PAYROLL |
|
$ |
8,362 |
|
$ |
18,888 |
|
|
|
|
| |||
|
13. |
|
PAYROLL TAXES PAID |
|
$ |
632 |
|
$ |
1,379 |
|
|
|
|
| |||
|
14. |
|
SALES, USE & OTHER TAXES PAID |
|
|
|
|
|
|
|
|
| |||||
|
15. |
|
SECURED / RENTAL / LEASES |
|
$ |
9,405 |
|
$ |
30,929 |
|
|
|
|
| |||
|
16. |
|
UTILITIES (3) |
|
|
|
$ |
6,914 |
|
|
|
|
| ||||
|
17. |
|
INSURANCE |
|
$ |
39,452 |
|
$ |
39,453 |
|
|
|
|
| |||
|
18. |
|
INVENTORY PURCHASES |
|
|
|
|
|
|
|
|
| |||||
|
19. |
|
VEHICLE EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
20. |
|
TRAVEL |
|
|
|
|
|
|
|
|
| |||||
|
21. |
|
ENTERTAINMENT |
|
|
|
|
|
|
|
|
| |||||
|
22. |
|
REPAIRS & MAINTENANCE |
|
|
|
$ |
410 |
|
|
|
|
| ||||
|
23. |
|
SUPPLIES |
|
|
|
$ |
750 |
|
|
|
|
| ||||
|
24. |
|
ADVERTISING |
|
|
|
|
|
|
|
|
| |||||
|
25. |
|
OTHER (ATTACH LIST) see MOR-3 Exhibit A |
|
$ |
36,579 |
|
$ |
255,902 |
|
|
|
|
| |||
|
26. |
|
TOTAL OPERATING DISBURSEMENTS |
|
$ |
94,430 |
|
$ |
354,625 |
|
$ |
0 |
|
$ |
0 |
| |
|
REORGANIZATION EXPENSES |
|
|
|
|
|
|
|
|
| |||||||
|
27. |
|
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| |||||
|
28. |
|
U.S. TRUSTEE FEES |
|
|
|
|
|
|
|
|
| |||||
|
29. |
|
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| |||||
|
30. |
|
TOTAL REORGANIZATION EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| |
|
31. |
|
TOTAL DISBURSEMENTS |
|
$ |
94,430 |
|
$ |
354,625 |
|
$ |
0 |
|
$ |
0 |
| |
|
32. |
|
NET CASH FLOW |
|
$ |
(94,430 |
) |
$ |
(354,625 |
) |
$ |
0 |
|
$ |
0 |
| |
|
33. |
|
CASH - END OF MONTH (2) |
|
$ |
496,004 |
|
$ |
141,380 |
|
$ |
0 |
|
$ |
0 |
| |
Notes:
(1) Cash at filing was listed as $697,795.79, but this total did not include transactions that Bank of Texas had not posted when the balance was obtained online in the afternoon of the day of the filing, March 7th, 2012. The true cash total was $590,434.12 and a reconciliation of the filed balance to the actual balance follows below:
|
Balance per filed schedule 03/07/2012 |
|
697,795.79 |
| |
|
Less Wire payments clearing on 3/7/2012 |
|
(65,816.00 |
) | |
|
Less Check payments clearing on 3/7/2012 |
|
(422.49 |
) | |
|
Less ACH payments clearing on 3/7/2012 |
|
(41,123.18 |
) | |
|
Adjusted balance for bank at 03/07/2012 |
|
$ |
590,434.12 |
|
(2) Exclusive of cash sweep from zero balance accounts to concentration account at Cano Petroleum, Inc.
(3) Includes deposits of $2,771.14 paid through approved utilities order
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Cano Petroleum, Inc. |
ACCRUAL BASIS-4 |
|
|
|
|
CASE NUMBER: 12-31549-bjh-11 |
|
|
|
|
|
|
SCHEDULE |
|
MONTH |
|
MONTH |
|
MONTH |
| ||||
|
ACCOUNTS RECEIVABLE AGING |
|
AMOUNT |
|
3/8/2012 to 3/31/2012 |
|
April-12 |
|
|
| ||||||
|
1. |
|
0-30 |
|
|
|
|
|
|
|
|
| ||||
|
2. |
|
31-60 |
|
|
|
|
|
|
|
|
| ||||
|
3. |
|
61-90 |
|
|
|
|
|
|
|
|
| ||||
|
4. |
|
91+ |
|
|
|
|
|
|
|
|
| ||||
|
5. |
|
TOTAL ACCOUNTS RECEIVABLE |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
6. |
|
AMOUNT CONSIDERED UNCOLLECTIBLE |
|
|
|
|
|
|
|
|
| ||||
|
7. |
|
ACCOUNTS RECEIVABLE (NET) |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
AGING OF POSTPETITION TAXES AND PAYABLES (1) |
MONTH: |
April-12 |
|
|
|
0-30 |
|
31-60 |
|
61-90 |
|
91+ |
|
|
| ||||||
|
TAXES PAYABLE |
|
DAYS |
|
DAYS |
|
DAYS |
|
DAYS |
|
TOTAL |
| ||||||
|
1. |
FEDERAL |
|
|
|
|
|
|
|
|
|
|
| |||||
|
2. |
STATE |
|
|
|
|
|
|
|
|
|
|
| |||||
|
3. |
LOCAL |
|
|
|
|
|
|
|
|
|
|
| |||||
|
4. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
|
|
| |||||
|
5. |
TOTAL TAXES PAYABLE |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
6. |
ACCOUNTS PAYABLE |
|
$ |
97,343 |
|
|
|
|
|
|
|
|
| ||||
|
STATUS OF POSTPETITION TAXES (1) |
MONTH: |
April-12 |
|
|
|
BEGINNING |
|
AMOUNT |
|
|
|
ENDING |
| |||||
|
|
|
TAX |
|
WITHHELD AND/ |
|
AMOUNT |
|
TAX |
| |||||
|
|
|
LIABILITY* |
|
OR ACCRUED |
|
PAID |
|
LIABILITY |
| |||||
|
FEDERAL |
|
|
|
|
|
|
|
|
| |||||
|
1. |
WITHHOLDING** |
|
|
|
|
|
|
|
|
| ||||
|
2. |
FICA-EMPLOYEE** |
|
|
|
|
|
|
|
|
| ||||
|
3. |
FICA-EMPLOYER** |
|
|
|
|
|
|
|
|
| ||||
|
4. |
UNEMPLOYMENT |
|
|
|
|
|
|
|
|
| ||||
|
5. |
INCOME |
|
|
|
|
|
|
|
|
| ||||
|
6. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
7. |
TOTAL FEDERAL TAXES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
STATE AND LOCAL |
|
|
|
|
|
|
|
|
| |||||
|
8. |
WITHHOLDING |
|
|
|
|
|
|
|
|
| ||||
|
9. |
SALES |
|
|
|
|
|
|
|
|
| ||||
|
10. |
EXCISE |
|
|
|
|
|
|
|
|
| ||||
|
11. |
UNEMPLOYMENT |
|
|
|
|
|
|
|
|
| ||||
|
12. |
REAL PROPERTY |
|
|
|
|
|
|
|
|
| ||||
|
13. |
PERSONAL PROPERTY |
|
|
|
|
|
|
|
|
| ||||
|
14. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
15. |
TOTAL STATE & LOCAL |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
16. |
TOTAL TAXES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
* |
|
The beginning tax liability should represent the liability from the prior month or, if this is the first operating report, the amount should be zero. |
|
** |
|
Attach photocopies of IRS Form 6123 or your FTD coupon and payment receipt to verify payment or deposit. |
|
(1) |
|
Only taxes paid directly by Cano Petroleum, Inc. and its subsidiaries; taxes paid on their behalf by others (e.g. first purchasers and PEO — Resourcing Edge) are not shown |
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Cano Petroleum, Inc. |
ACCRUAL BASIS-5 |
|
|
|
|
CASE NUMBER: 12-31549-bjh-11 |
|
The debtor in possession must complete the reconciliation below for each bank account, including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc. Accounts with restricted funds should be identified by placing an asterisk next to the account number. Attach additional sheets if necessary.
|
|
MONTH: |
April-12 |
BANK RECONCILIATIONS
|
|
|
Account #1 |
|
Account #2 |
|
Account #3 |
|
|
| |||||
|
A. |
BANK: |
|
Bank of Texas N.A |
|
Bank of Texas N.A |
|
Bank of Texas N.A |
|
|
| ||||
|
B. |
ACCOUNT NUMBER: |
|
31012914 |
|
31013406 |
|
8094216003 |
|
|
| ||||
|
C. |
PURPOSE (TYPE): |
|
Checking |
|
Concentration |
|
Debit Card |
|
TOTAL |
| ||||
|
1. |
BALANCE PER BANK STATEMENT |
|
$ |
32 |
|
$ |
2,890,916 |
|
$ |
10,000 |
|
$ |
2,900,948 |
|
|
2. |
ADD: TOTAL DEPOSITS NOT CREDITED |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
3. |
SUBTRACT: OUTSTANDING CHECKS |
|
$ |
15,250 |
|
|
|
|
|
$ |
15,250 |
| ||
|
4. |
OTHER RECONCILING ITEMS |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
5. |
MONTH END BALANCE PER BOOKS (1) |
|
$ |
(15,218 |
) |
$ |
2,890,916 |
|
$ |
10,000 |
|
$ |
2,885,698 |
|
|
6. |
NUMBER OF LAST CHECK WRITTEN |
|
1001001991 |
|
N/A |
|
N/A |
|
|
| ||||
INVESTMENT ACCOUNTS
|
|
|
DATE OF |
|
TYPE OF |
|
PURCHASE |
|
CURRENT |
| |||
|
BANK, ACCOUNT NAME & NUMBER |
|
PURCHASE |
|
INSTRUMENT |
|
PRICE |
|
VALUE |
| |||
|
7. |
|
|
|
|
|
|
|
|
|
| ||
|
8. |
|
|
|
|
|
|
|
|
|
| ||
|
9. |
|
|
|
|
|
|
|
|
|
| ||
|
10. |
|
|
|
|
|
|
|
|
|
| ||
|
11. |
TOTAL INVESTMENTS |
|
|
|
|
|
$ |
0 |
|
$ |
0 |
|
CASH
|
12. |
CURRENCY ON HAND |
|
$ |
0 |
|
|
|
|
|
|
| |
|
13. |
TOTAL CASH – END OF MONTH |
|
$ |
2,885,698 |
|
(1) Includes effect of cash sweeps from zero balance accounts to concentration account at Cano Petroleum, Inc.
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Cano Petroleum, Inc. |
ACCRUAL BASIS-6 |
|
|
|
|
CASE NUMBER: 12-31549-bjh-11 |
|
MONTH: April - 12
PAYMENTS TO INSIDERS AND PROFESSIONALS
OF THE TOTAL DISBURSEMENTS SHOWN FOR THE MONTH, LIST THE AMOUNT PAID TO INSIDERS (AS DEFINED IN SECTION 101 (31) (A)-(F) OF THE U.S. BANKRUPTCY CODE) AND TO PROFESSIONALS. ALSO, FOR PAYMENTS TO INSIDERS, IDENTIFY THE TYPE OF COMPENSATION PAID (e.g. SALARY, BONUS, COMMISSIONS, INSURANCE, HOUSING ALLOWANCE, TRAVEL, CAR ALLOWANCE, ETC.). ATTACH ADDITIONAL SHEETS IF NECESSARY.
|
INSIDERS |
|
|
|
TYPE OF |
|
AMOUNT |
|
TOTAL PAID |
| |||
|
NAME |
|
PAYMENT |
|
PAID |
|
TO DATE |
| |||
|
1. |
John Homier |
|
Contract Payment |
|
$ |
52,930 |
|
$ |
72,976 |
|
|
2. |
|
|
|
|
|
|
|
| ||
|
3. |
|
|
|
|
|
|
|
| ||
|
4. |
|
|
|
|
|
|
|
| ||
|
5. |
|
|
|
|
|
|
|
| ||
|
6. |
TOTAL PAYMENTS TO INSIDERS |
|
$ |
52,930 |
|
$ |
72,976 |
| ||
|
PROFESSIONALS |
|
|
|
DATE OF COURT |
|
|
|
|
|
|
|
TOTAL |
| |||||
|
|
|
ORDER AUTHORIZING |
|
AMOUNT |
|
AMOUNT |
|
TOTAL PAID |
|
INCURRED |
| |||||
|
NAME |
|
PAYMENT |
|
APPROVED |
|
PAID |
|
TO DATE |
|
& UNPAID * |
| |||||
|
1. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
2. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
3. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
4. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
5. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
6. TOTAL PAYMENTS TO PROFESSIONALS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| |||
* INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
|
|
|
SCHEDULED |
|
AMOUNTS |
|
|
| ||||
|
|
|
MONTHLY |
|
PAID |
|
TOTAL |
| ||||
|
|
|
PAYMENTS |
|
DURING |
|
UNPAID |
| ||||
|
NAME OF CREDITOR |
|
DUE |
|
MONTH |
|
POSTPETITION |
| ||||
|
1. |
Bro-Co, LLC(1) |
|
$ |
13,363 |
|
$ |
26,725 |
|
$ |
(13,363 |
) |
|
2. |
Culberson Rental & Leasing Co. Inc(2) |
|
$ |
3,949 |
|
$ |
3,042 |
|
$ |
907 |
|
|
3. |
Key Equipment & Finance Inc |
|
$ |
377 |
|
$ |
377 |
|
$ |
0 |
|
|
4. |
Tindall Record Storage(3) |
|
$ |
84 |
|
$ |
168 |
|
$ |
(84 |
) |
|
5. |
Pitney Bowes Global Financial |
|
$ |
617 |
|
$ |
617 |
|
$ |
0 |
|
|
6. |
TOTAL |
|
$ |
18,390 |
|
$ |
30,929 |
|
$ |
(12,540 |
) |
Notes:
1) $13,362.65 rent was paid for April rent and $13,362.65 paid for May rent, leaving credit of $13,363.
2) Normal leasing cost is $3,949, but we paid post petition lease cost for 03/08 to 03/31/2012, leaving $907 prepetition claim
3) Paid April storage costs and May storage costs, leaving $84 credit for prepayment
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Cano Petroleum, Inc. |
ACCRUAL BASIS-7 |
|
|
|
|
CASE NUMBER: 12-31549-bjh-11 |
|
MONTH: April-12
QUESTIONNAIRE
|
|
|
YES |
|
NO | |
|
1. |
HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? |
|
|
|
X |
|
2. |
HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? |
|
|
|
X |
|
3. |
ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? |
|
|
|
X |
|
4. |
HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? |
|
|
|
X |
|
5. |
HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? |
|
|
|
X |
|
6. |
ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? |
|
|
|
X |
|
7. |
ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? |
|
|
|
X |
|
8. |
ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? |
|
|
|
X |
|
9. |
ARE ANY OTHER POSTPETITION TAXES PAST DUE? |
|
|
|
X |
|
10. |
ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? |
|
|
|
X |
|
11. |
HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? |
|
|
|
X |
|
12. |
ARE ANY WAGE PAYMENTS PAST DUE? |
|
|
|
X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “YES,” PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSURANCE
|
|
|
YES |
|
NO | |
|
1. |
ARE WORKER’S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? |
|
X |
|
|
|
2. |
ARE ALL PREMIUM PAYMENTS PAID CURRENT? |
|
X |
|
|
|
3. |
PLEASE ITEMIZE POLICIES BELOW. |
|
|
|
|
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “NO,” OR IF ANY POLICIES HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSTALLMENT PAYMENTS
|
TYPE OF |
|
|
|
|
|
PAYMENT AMOUNT |
|
POLICY |
|
CARRIER |
|
PERIOD COVERED |
|
& FREQUENCY |
|
General Liability Insurance |
|
ACE American Insurance |
|
8/16/2011 to 8/16/2012 |
|
$ 39,452.99 paid monthly |
|
Business Auto |
|
ACE American Insurance |
|
8/16/2011 to 8/16/2012 |
|
to Premium Assignment |
|
Umbrella |
|
ACE Property & Casualty |
|
8/16/2011 to 8/16/2012 |
|
Corporation. |
|
Umbrella Extension |
|
Gotham Insurance Company |
|
8/16/2011 to 8/16/2012 |
|
1 payment remains at |
|
Marine Insurance |
|
AGCS Marine Insurance Co. |
|
8/16/2011 to 8/16/2012 |
|
4/30/2012 |
|
COW |
|
Lloyds of London |
|
8/16/2011 to 8/16/2012 |
|
|
CASE NAME: Cano Petroleum, Inc.
CASE NUMBER: 12-31549-bjh-11
MOR-1 Exhibit A
|
1160000000 Intercompany Receivable/Payable Account |
|
$ |
142,333,729 |
|
|
1160001003 Intercompany Receivable/Payable CC 1003 |
|
$ |
(8,728,718 |
) |
|
1160001004 Intercompany Receivable/Payable CC 1004 |
|
$ |
1,751,341 |
|
|
1160001005 Intercompany Receivable/Payable CC 1005 |
|
$ |
(7,134,051 |
) |
|
1160001010 Intercompany Receivable/Payable CC 1010 |
|
$ |
3,635,467 |
|
|
1160001011 Intercompany Receivable/Payable CC 1011 |
|
$ |
(2,918,781 |
) |
|
Intercompany Adjustment |
|
$ |
129,281 |
|
|
2400000000 Goodwill |
|
101,166.00 |
| |
|
Thomson & Knight retainer |
|
250,302.66 |
| |
|
Contract employee retainers |
|
66,800.00 |
| |
|
Blackhill Partners retainer |
|
40,000.00 |
| |
|
|
|
129,526,537.31 |
| |
CASE NAME: Cano Petroleum, Inc.
CASE NUMBER: 12-31549-bjh-11
MOR-3 Exhibit A
|
April Total Other Operating Expenses |
|
255,901.87 |
|
Exhibit 99.2
|
|
Monthly Operating Report | |
|
|
| |
|
CASE NAME: Cano Petro of New Mexico |
ACCRUAL BASIS | |
|
|
| |
|
CASE NUMBER: 12-31550-bjh-11 |
| |
|
|
| |
|
JUDGE: |
Barbara J. Houser |
|
UNITED STATES BANKRUPTCY COURT
NORTHERN AND EASTERN
DISTRICT OF
TEXAS
DIVISION 6
MONTHLY OPERATING REPORT
MONTH ENDING: April 30th, 2012
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY): IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
|
RESPONSIBLE PARTY: |
|
|
|
|
|
|
|
/s/ John H. Homier |
|
CFO |
|
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY |
|
TITLE |
|
|
|
|
|
John H. Homier |
|
5/21/2012 |
|
PRINTED NAME OF RESPONSIBLE PARTY |
|
DATE |
|
|
|
|
|
|
|
|
|
PREPARER: |
|
|
|
|
|
|
|
/s/ Adrian Lamberti |
|
Controller |
|
ORIGINAL SIGNATURE OF PREPARER |
|
TITLE |
|
|
|
|
|
Adrian Lamberti |
|
5/21/2012 |
|
PRINTED NAME OF PREPARER |
|
DATE |
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Cano Petro of New Mexico, Inc. |
ACCRUAL BASIS-1 |
|
|
|
|
CASE NUMBER: 12-31550-bjh-11 |
|
COMPARATIVE BALANCE SHEET
|
|
|
SCHEDULE |
|
MONTH |
|
MONTH |
|
MONTH |
| |||||
|
|
|
AMOUNT |
|
3/31/2012 |
|
April 2012 |
|
|
| |||||
|
ASSETS |
|
|
|
|
|
|
|
|
| |||||
|
1. |
UNRESTRICTED CASH |
|
|
|
$ |
285,885 |
|
$ |
250,124 |
|
|
| ||
|
2. |
RESTRICTED CASH |
|
|
|
|
|
|
|
|
| ||||
|
3. |
TOTAL CASH (2) |
|
$ |
0 |
|
$ |
285,885 |
|
$ |
0 |
|
$ |
0 |
|
|
4. |
ACCOUNTS RECEIVABLE (NET) |
|
$ |
375,000 |
|
$ |
531,000 |
|
$ |
289,000 |
|
|
| |
|
5. |
INVENTORY |
|
$ |
225,500 |
|
$ |
92,233 |
|
$ |
122,178 |
|
|
| |
|
6. |
NOTES RECEIVABLE |
|
|
|
|
|
|
|
|
| ||||
|
7. |
PREPAID EXPENSES |
|
|
|
$ |
89,523 |
|
$ |
312,271 |
|
|
| ||
|
8. |
OTHER (1) |
|
$ |
1,289,657 |
|
$ |
1,039,657 |
|
$ |
1,039,657 |
|
|
| |
|
9. |
TOTAL CURRENT ASSETS |
|
$ |
1,890,157 |
|
$ |
2,038,298 |
|
$ |
2,013,230 |
|
$ |
0 |
|
|
10. |
PROPERTY, PLANT & EQUIPMENT |
|
$ |
78,163 |
|
$ |
81,560,243 |
|
$ |
81,560,243 |
|
|
| |
|
11. |
LESS: ACCUMULATED DEPRECIATION / DEPLETION |
|
|
|
$ |
72,692,284 |
|
$ |
72,759,200 |
|
|
| ||
|
12. |
NET PROPERTY, PLANT & EQUIPMENT |
|
$ |
78,163 |
|
$ |
8,867,959 |
|
$ |
8,801,043 |
|
$ |
0 |
|
|
13. |
DUE FROM INSIDERS |
|
|
|
|
|
|
|
|
| ||||
|
14. |
OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
15. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
16. |
TOTAL ASSETS |
|
$ |
1,968,320 |
|
$ |
10,906,257 |
|
$ |
10,814,273 |
|
$ |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
POSTPETITION LIABILITIES |
|
|
|
|
|
|
|
|
| |||||
|
17. |
ACCOUNTS PAYABLE |
|
|
|
$ |
67,148 |
|
$ |
98,387 |
|
|
| ||
|
18. |
TAXES PAYABLE (3) |
|
|
|
|
|
$ |
56,100 |
|
|
| |||
|
19. |
NOTES PAYABLE |
|
|
|
|
|
|
|
|
| ||||
|
20. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
21. |
SECURED DEBT |
|
|
|
|
|
|
|
|
| ||||
|
22. |
OTHER |
|
|
|
|
|
|
|
|
| ||||
|
23. |
TOTAL POSTPETITION LIABILITIES |
|
|
|
$ |
67,148 |
|
$ |
154,487 |
|
$ |
0 |
| |
|
PREPETITION LIABILITIES |
|
|
|
|
|
|
|
|
| |||||
|
24. |
SECURED DEBT (4) |
|
$ |
80,995,000 |
|
|
|
|
|
|
| |||
|
25. |
PRIORITY DEBT (3) |
|
$ |
153,344 |
|
$ |
153,344 |
|
$ |
96,271 |
|
|
| |
|
26. |
UNSECURED DEBT |
|
$ |
216,886 |
|
$ |
216,886 |
|
$ |
216,886 |
|
|
| |
|
27. |
OTHER (MOR-1a) |
|
|
|
$ |
66,080,712 |
|
$ |
66,080,712 |
|
|
| ||
|
28. |
TOTAL PREPETITION LIABILITIES |
|
$ |
81,365,230 |
|
$ |
66,450,942 |
|
$ |
66,393,869 |
|
$ |
0 |
|
|
29. |
TOTAL LIABILITIES |
|
$ |
81,365,230 |
|
$ |
66,518,090 |
|
$ |
66,548,356 |
|
$ |
0 |
|
|
EQUITY |
|
|
|
|
|
|
|
|
| |||||
|
30. |
PREPETITION OWNERS’ EQUITY |
|
|
|
$ |
(55,663,419 |
) |
$ |
(55,663,419 |
) |
|
| ||
|
31. |
POSTPETITION CUMULATIVE PROFIT OR (LOSS) |
|
|
|
$ |
51,586 |
|
$ |
(70,664 |
) |
|
| ||
|
32. |
DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) |
|
|
|
|
|
|
|
|
| ||||
|
33. |
TOTAL EQUITY |
|
$ |
(79,396,910 |
) |
$ |
(55,611,833 |
) |
$ |
(55,734,083 |
) |
$ |
0 |
|
|
34. |
TOTAL LIABILITIES & OWNERS’ EQUITY |
|
$ |
1,968,320 |
|
$ |
10,906,257 |
|
$ |
10,814,273 |
|
$ |
0 |
|
|
|
(1) Includes consolidated retainer of $250,000 for Cano Petroleum, Inc. and its related debtor entities |
|
|
(2) exclusive of cash sweep from zero balance accounts to concentration account at Cano Petroleum, Inc. |
|
|
(3) Severance taxes for December 2011 and January 2012 Production paid following approved order. |
|
|
(4) For balance sheet purposes, the secured debt for Cano Petroleum, Inc. and its subsidiaries is carried in total by Cano Petroleum, Inc. |
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Cano Petro of New Mexico, Inc. |
ACCRUAL BASIS-2 |
|
|
|
|
CASE NUMBER: 12-31550-bjh-11 |
|
INCOME STATEMENT
|
|
|
MONTH |
|
MONTH |
|
MONTH |
|
MONTH |
| |||||
|
|
|
3/8/2012 to 3/31/2012 |
|
April-12 |
|
|
|
|
| |||||
|
REVENUES |
|
|
|
|
|
|
|
|
| |||||
|
1. |
GROSS REVENUES |
|
$ |
407,586 |
|
$ |
234,100 |
|
|
|
|
| ||
|
2. |
LESS: RETURNS & DISCOUNTS |
|
|
|
|
|
|
|
|
| ||||
|
3. |
NET REVENUE |
|
$ |
407,586 |
|
$ |
234,100 |
|
$ |
0 |
|
$ |
0 |
|
|
COST OF GOODS SOLD |
|
|
|
|
|
|
|
|
| |||||
|
4. |
MATERIAL |
|
|
|
|
|
|
|
|
| ||||
|
5. |
DIRECT LABOR |
|
|
|
|
|
|
|
|
| ||||
|
6. |
DIRECT OVERHEAD (LOE) |
|
$ |
247,860 |
|
$ |
230,905 |
|
|
|
|
| ||
|
7. |
TOTAL COST OF GOODS SOLD |
|
$ |
247,860 |
|
$ |
230,905 |
|
$ |
0 |
|
$ |
0 |
|
|
8. |
GROSS PROFIT |
|
$ |
159,726 |
|
$ |
3,195 |
|
$ |
0 |
|
$ |
0 |
|
|
OPERATING EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
9. |
OFFICER / INSIDER COMPENSATION |
|
|
|
|
|
|
|
|
| ||||
|
10. |
SELLING & MARKETING |
|
|
|
|
|
|
|
|
| ||||
|
11. |
GENERAL & ADMINISTRATIVE |
|
$ |
1,491 |
|
$ |
1,561 |
|
|
|
|
| ||
|
12. |
RENT & LEASE |
|
$ |
0 |
|
$ |
0 |
|
|
|
|
| ||
|
13. |
OTHER (ATTACH LIST) MOR-2a |
|
|
|
$ |
56,100 |
|
|
|
|
| |||
|
14. |
TOTAL OPERATING EXPENSES |
|
$ |
1,491 |
|
$ |
57,661 |
|
$ |
0 |
|
$ |
0 |
|
|
15. |
INCOME BEFORE NON-OPERATING INCOME & EXPENSE |
|
$ |
158,235 |
|
$ |
(54,466 |
) |
$ |
0 |
|
$ |
0 |
|
|
OTHER INCOME & EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
16. |
NON-OPERATING INCOME (ATT. LIST) |
|
|
|
|
|
|
|
|
| ||||
|
17. |
NON-OPERATING EXPENSE (ATT. LIST) |
|
|
|
|
|
|
|
|
| ||||
|
18. |
INTEREST EXPENSE |
|
$ |
23 |
|
$ |
868 |
|
|
|
|
| ||
|
19. |
DEPRECIATION / DEPLETION |
|
$ |
106,301 |
|
$ |
66,916 |
|
|
|
|
| ||
|
20. |
AMORTIZATION |
|
|
|
|
|
|
|
|
| ||||
|
21. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
22. |
NET OTHER INCOME & EXPENSES |
|
$ |
106,324 |
|
$ |
67,784 |
|
$ |
0 |
|
$ |
0 |
|
|
REORGANIZATION EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
23. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
24. |
U.S. TRUSTEE FEES |
|
$ |
325 |
|
$ |
0 |
|
|
|
|
| ||
|
25. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
26. |
TOTAL REORGANIZATION EXPENSES |
|
$ |
325 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
27. |
INCOME TAX |
|
|
|
|
|
|
|
|
| ||||
|
28. |
NET PROFIT (LOSS) |
|
$ |
51,586 |
|
$ |
(122,250 |
) |
$ |
0 |
|
$ |
0 |
|
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Cano Petro of New Mexico, Inc. |
ACCRUAL BASIS-3 |
|
|
|
|
CASE NUMBER: 12-31550-bjh-11 |
|
|
|
|
MONTH |
|
MONTH |
|
MONTH |
|
QUARTER |
| |||||
|
|
|
3/8/2012 to 3/31/2012 |
|
April-12 |
|
|
|
TOTAL |
| |||||
|
CASH RECEIPTS AND DISBURSEMENTS |
|
|
|
|
|
|
|
|
| |||||
|
1. |
CASH - BEGINNING OF MONTH(1) |
|
$ |
0 |
|
$ |
285,885 |
|
|
|
|
| ||
|
RECEIPTS FROM OPERATIONS |
|
|
|
|
|
|
|
|
| |||||
|
2. |
CASH SALES |
|
|
|
|
|
|
|
|
| ||||
|
COLLECTION OF ACCOUNTS RECEIVABLE |
|
|
|
|
|
|
|
|
| |||||
|
3. |
PREPETITION |
|
$ |
299,097 |
|
|
|
|
|
|
| |||
|
4. |
POSTPETITION |
|
|
|
$ |
534,194 |
|
|
|
|
| |||
|
5. |
TOTAL OPERATING RECEIPTS |
|
$ |
299,097 |
|
$ |
534,194 |
|
$ |
0 |
|
$ |
0 |
|
|
NON-OPERATING RECEIPTS |
|
|
|
|
|
|
|
|
| |||||
|
6. |
LOANS & ADVANCES (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
7. |
SALE OF ASSETS |
|
|
|
|
|
|
|
|
| ||||
|
8. |
OTHER (ATTACH LIST) MOR - 3a |
|
|
|
$ |
12,239 |
|
|
|
|
| |||
|
9. |
TOTAL NON-OPERATING RECEIPTS |
|
$ |
0 |
|
$ |
12,239 |
|
$ |
0 |
|
$ |
0 |
|
|
10. |
TOTAL RECEIPTS |
|
$ |
299,097 |
|
$ |
546,433 |
|
$ |
0 |
|
$ |
0 |
|
|
11. |
TOTAL CASH AVAILABLE |
|
$ |
299,097 |
|
$ |
832,318 |
|
$ |
0 |
|
$ |
0 |
|
|
OPERATING DISBURSEMENTS |
|
|
|
|
|
|
|
|
| |||||
|
12. |
NET PAYROLL |
|
$ |
9,455 |
|
$ |
25,294 |
|
|
|
|
| ||
|
13. |
PAYROLL TAXES PAID |
|
$ |
957 |
|
$ |
2,126 |
|
|
|
|
| ||
|
14. |
SALES, USE & OTHER TAXES PAID |
|
|
|
$ |
57,073 |
|
|
|
|
| |||
|
15. |
SECURED / RENTAL / LEASES |
|
|
|
|
|
|
|
|
| ||||
|
16. |
UTILITIES (2) |
|
|
|
$ |
270,977 |
|
|
|
|
| |||
|
17. |
INSURANCE |
|
|
|
|
|
|
|
|
| ||||
|
18. |
INVENTORY PURCHASES |
|
|
|
|
|
|
|
|
| ||||
|
19. |
VEHICLE EXPENSES |
|
|
|
|
|
|
|
|
| ||||
|
20. |
TRAVEL |
|
|
|
|
|
|
|
|
| ||||
|
21. |
ENTERTAINMENT |
|
|
|
|
|
|
|
|
| ||||
|
22. |
REPAIRS & MAINTENANCE |
|
|
|
|
|
|
|
|
| ||||
|
23. |
SUPPLIES |
|
|
|
|
|
|
|
|
| ||||
|
24. |
ADVERTISING |
|
|
|
|
|
|
|
|
| ||||
|
25. |
OTHER (ATTACH LIST) MOR -3 b |
|
$ |
2,800 |
|
$ |
226,724 |
|
|
|
|
| ||
|
26. |
TOTAL OPERATING DISBURSEMENTS |
|
$ |
13,212 |
|
$ |
582,194 |
|
$ |
0 |
|
$ |
0 |
|
|
REORGANIZATION EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
27. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
28. |
U.S. TRUSTEE FEES |
|
|
|
|
|
|
|
|
| ||||
|
29. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
30. |
TOTAL REORGANIZATION EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
31. |
TOTAL DISBURSEMENTS |
|
$ |
13,212 |
|
$ |
582,194 |
|
$ |
0 |
|
$ |
0 |
|
|
32. |
NET CASH FLOW |
|
$ |
285,885 |
|
$ |
(35,761 |
) |
$ |
0 |
|
$ |
0 |
|
|
33. |
CASH - END OF MONTH (1) |
|
$ |
285,885 |
|
$ |
250,124 |
|
$ |
0 |
|
$ |
0 |
|
|
|
(1) exclusive of cash sweep from zero balance accounts to concentration account at Cano Petroleum, Inc. |
|
|
(2) April includes Utility Deposits totaling $78,746. |
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Cano Petro of New Mexico, Inc. |
ACCRUAL BASIS-4 |
|
|
|
|
CASE NUMBER: 12-31550-bjh-11 |
|
|
|
|
SCHEDULE |
|
MONTH |
|
MONTH |
|
MONTH |
| |||||
|
ACCOUNTS RECEIVABLE AGING |
|
AMOUNT |
|
3/31/2012 |
|
4/30/2012 |
|
|
| |||||
|
1. |
0-30 |
|
$ |
375,000 |
|
$ |
531,000 |
|
$ |
289,000 |
|
|
| |
|
2. |
31-60 |
|
|
|
|
|
|
|
|
| ||||
|
3. |
61-90 |
|
|
|
|
|
|
|
|
| ||||
|
4. |
91+ |
|
|
|
|
|
|
|
|
| ||||
|
5. |
TOTAL ACCOUNTS RECEIVABLE |
|
$ |
375,000 |
|
$ |
531,000 |
|
$ |
289,000 |
|
$ |
0 |
|
|
6. |
AMOUNT CONSIDERED UNCOLLECTIBLE |
|
|
|
|
|
|
|
|
| ||||
|
7. |
ACCOUNTS RECEIVABLE (NET) |
|
$ |
375,000 |
|
$ |
531,000 |
|
$ |
289,000 |
|
$ |
0 |
|
|
AGING OF POSTPETITION TAXES AND PAYABLES (1) |
MONTH: |
April 2012 |
|
|
|
0-30 |
|
31-60 |
|
61-90 |
|
91+ |
|
|
| ||||||
|
TAXES PAYABLE |
|
DAYS |
|
DAYS |
|
DAYS |
|
DAYS |
|
TOTAL |
| ||||||
|
1. |
FEDERAL |
|
|
|
|
|
|
|
|
|
|
| |||||
|
2. |
STATE |
|
|
|
|
|
|
|
|
|
|
| |||||
|
3. |
LOCAL |
|
|
|
|
|
|
|
|
|
|
| |||||
|
4. |
OTHER (ATTACH LIST) MOR - 4a |
|
$ |
56,100 |
|
|
|
|
|
|
|
$ |
56,100 |
| |||
|
5. |
TOTAL TAXES PAYABLE |
|
$ |
56,100 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
56,100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
6. |
ACCOUNTS PAYABLE |
|
$ |
98,387 |
|
|
|
|
|
|
|
|
| ||||
|
STATUS OF POSTPETITION TAXES |
MONTH: |
April 2012 |
|
|
|
BEGINNING |
|
AMOUNT |
|
|
|
ENDING |
| |||||
|
|
|
TAX |
|
WITHHELD AND/ |
|
AMOUNT |
|
TAX |
| |||||
|
|
|
LIABILITY* |
|
OR ACCRUED |
|
PAID |
|
LIABILITY |
| |||||
|
FEDERAL |
|
|
|
|
|
|
|
|
| |||||
|
1. |
WITHHOLDING** |
|
|
|
|
|
|
|
|
| ||||
|
2. |
FICA-EMPLOYEE** |
|
|
|
|
|
|
|
|
| ||||
|
3. |
FICA-EMPLOYER** |
|
|
|
|
|
|
|
|
| ||||
|
4. |
UNEMPLOYMENT |
|
|
|
|
|
|
|
|
| ||||
|
5. |
INCOME |
|
|
|
|
|
|
|
|
| ||||
|
6. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
7. |
TOTAL FEDERAL TAXES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
STATE AND LOCAL |
|
|
|
|
|
|
|
|
| |||||
|
8. |
WITHHOLDING |
|
|
|
|
|
|
|
|
| ||||
|
9. |
SALES |
|
|
|
|
|
|
|
|
| ||||
|
10. |
EXCISE |
|
|
|
|
|
|
|
|
| ||||
|
11. |
UNEMPLOYMENT |
|
|
|
|
|
|
|
|
| ||||
|
12. |
REAL PROPERTY |
|
|
|
|
|
|
|
|
| ||||
|
13. |
PERSONAL PROPERTY |
|
|
|
|
|
|
|
|
| ||||
|
14. |
OTHER (ATTACH LIST) MOR - 4a |
|
$ |
56,100 |
|
|
|
$ |
57,073 |
|
|
| ||
|
15. |
TOTAL STATE & LOCAL |
|
$ |
56,100 |
|
$ |
0 |
|
$ |
57,073 |
|
$ |
0 |
|
|
16. |
TOTAL TAXES |
|
$ |
56,100 |
|
$ |
0 |
|
$ |
57,073 |
|
$ |
0 |
|
|
* |
The beginning tax liability should represent the liability from the prior month or, if this is the first operating report, the amount should be zero. |
|
** |
Attach photocopies of IRS Form 6123 or your FTD coupon and payment receipt to verify payment or deposit. |
|
(1) |
Only taxes paid directly by Cano Petroleum, Inc. and its subsidiaries; taxes paid on their behalf by others (e.g. first purchasers and PEO — Resourcing Edge) are not shown |
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Cano Petro of New Mexico, Inc. |
ACCRUAL BASIS-5 |
|
|
|
|
CASE NUMBER: 12-31550-bjh-11 |
|
The debtor in possession must complete the reconciliation below for each bank account, including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc. Accounts with restricted funds should be identified by placing an asterisk next to the account number. Attach additional sheets if necessary.
|
|
|
MONTH: |
April 2012 |
|
|
|
|
|
|
BANK RECONCILIATIONS |
|
|
|
|
|
|
Account #1 |
|
Account #2 |
|
Account #3 |
|
|
| |||||
|
A. |
BANK: |
|
Bank of Texas N.A |
|
|
|
|
|
|
| ||||
|
B. |
ACCOUNT NUMBER: |
|
31016243 |
|
|
|
|
|
|
| ||||
|
C. |
PURPOSE (TYPE): |
|
Checking |
|
|
|
|
|
TOTAL |
| ||||
|
1. |
BALANCE PER BANK STATEMENT |
|
$ |
1,557 |
|
|
|
|
|
$ |
1,557 |
| ||
|
2. |
ADD: TOTAL DEPOSITS NOT CREDITED |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
3. |
SUBTRACT: OUTSTANDING CHECKS |
|
$ |
87,775 |
|
|
|
|
|
$ |
87,775 |
| ||
|
4. |
OTHER RECONCILING ITEMS |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
5. |
MONTH END BALANCE PER BOOKS (1) |
|
$ |
(86,218 |
) |
$ |
0 |
|
$ |
0 |
|
$ |
(86,218 |
) |
|
6. |
NUMBER OF LAST CHECK WRITTEN |
|
10100001474 |
|
|
|
|
|
|
| ||||
|
INVESTMENT ACCOUNTS |
|
|
|
|
DATE OF |
|
TYPE OF |
|
PURCHASE |
|
CURRENT |
| ||
|
BANK, ACCOUNT NAME & NUMBER |
|
PURCHASE |
|
INSTRUMENT |
|
PRICE |
|
VALUE |
| ||
|
7. |
|
|
|
|
|
|
|
|
| ||
|
8. |
|
|
|
|
|
|
|
|
| ||
|
9. |
|
|
|
|
|
|
|
|
| ||
|
10. |
|
|
|
|
|
|
|
|
| ||
|
11. TOTAL INVESTMENTS |
|
|
|
|
|
$ |
0 |
|
$ |
0 |
|
|
CASH |
|
|
12. |
CURRENCY ON HAND |
|
|
|
|
|
|
|
$ |
0 |
|
|
|
|
|
|
|
|
|
|
|
| ||
|
13. |
TOTAL CASH - END OF MONTH |
|
|
|
|
|
|
|
$ |
(86,218 |
) |
|
(1) Includes effect of cash sweeps from zero balance accounts to concentration account at Cano Petroleum, Inc. |
|
|
Monthly Operating Report | |
|
|
| |
|
CASE NAME: Cano Petro of New Mexico, Inc. |
ACCRUAL BASIS-6 | |
|
|
| |
|
CASE NUMBER: 12-31550-bjh-11 |
| |
|
|
| |
|
|
MONTH: |
April 2012 |
|
PAYMENTS TO INSIDERS AND PROFESSIONALS |
|
OF THE TOTAL DISBURSEMENTS SHOWN FOR THE MONTH, LIST THE AMOUNT PAID TO INSIDERS (AS DEFINED IN SECTION 101 (31) (A)-(F) OF THE U.S. BANKRUPTCY CODE) AND TO PROFESSIONALS. ALSO, FOR PAYMENTS TO INSIDERS, IDENTIFY THE TYPE OF COMPENSATION PAID (e.g. SALARY, BONUS, COMMISSIONS, INSURANCE, HOUSING ALLOWANCE, TRAVEL, CAR ALLOWANCE, ETC.). ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSIDERS
|
|
|
TYPE OF |
|
AMOUNT |
|
TOTAL PAID |
| |||
|
NAME |
|
PAYMENT |
|
PAID |
|
TO DATE |
| |||
|
1. |
|
|
|
|
|
|
|
| ||
|
2. |
|
|
|
|
|
|
|
| ||
|
3. |
|
|
|
|
|
|
|
| ||
|
4. |
|
|
|
|
|
|
|
| ||
|
5. |
|
|
|
|
|
|
|
| ||
|
6. |
TOTAL PAYMENTS TO INSIDERS |
|
$ |
0 |
|
$ |
0 |
| ||
PROFESSIONALS
|
|
|
DATE OF COURT |
|
|
|
|
|
|
|
TOTAL |
| |||||
|
|
|
ORDER AUTHORIZING |
|
AMOUNT |
|
AMOUNT |
|
TOTAL PAID |
|
INCURRED |
| |||||
|
NAME |
|
PAYMENT |
|
APPROVED |
|
PAID |
|
TO DATE |
|
& UNPAID * |
| |||||
|
1. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
2. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
3. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
4. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
5. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
6. |
TOTAL PAYMENTS TO PROFESSIONALS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| ||
* INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
|
|
|
SCHEDULED |
|
AMOUNTS |
|
|
| ||||
|
|
|
MONTHLY |
|
PAID |
|
TOTAL |
| ||||
|
|
|
PAYMENTS |
|
DURING |
|
UNPAID |
| ||||
|
NAME OF CREDITOR |
|
DUE |
|
MONTH |
|
POSTPETITION |
| ||||
|
1. |
|
|
|
|
|
|
|
| |||
|
2. |
|
|
|
|
|
|
|
| |||
|
3. |
|
|
|
|
|
|
|
| |||
|
4. |
|
|
|
|
|
|
|
| |||
|
5. |
|
|
|
|
|
|
|
| |||
|
6. |
TOTAL |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Cano Petro of New Mexico, Inc. |
ACCRUAL BASIS-7 |
|
|
|
|
CASE NUMBER: 12-31550-bjh-11 |
|
|
|
MONTH: |
April 2012 |
|
|
| |
|
QUESTIONNAIRE |
| |
|
|
|
|
YES |
|
NO |
|
|
1. |
HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? |
|
|
|
X |
|
|
2. |
HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? |
|
|
|
X |
|
|
3. |
ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? |
|
|
|
X |
|
|
4. |
HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? |
|
X |
|
|
|
|
5. |
HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? |
|
|
|
X |
|
|
6. |
ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? |
|
|
|
X |
|
|
7. |
ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? |
|
|
|
X |
|
|
8. |
ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? |
|
|
|
X |
|
|
9. |
ARE ANY OTHER POSTPETITION TAXES PAST DUE? |
|
|
|
X |
|
|
10. |
ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? |
|
|
|
X |
|
|
11. |
HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? |
|
X |
|
|
|
|
12. |
ARE ANY WAGE PAYMENTS PAST DUE? |
|
|
|
X |
|
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “YES,” PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
Prepetition Severance Taxes were paid to the sum of $57,073 (see MOR-3 Line 14) to the State of New Mexico.
Payment of Royalties due to owners and the ONRR (Formerly MMS) totaling $104,645 on Dec-2011 and Jan-2012 oil and gas sales
INSURANCE
|
|
|
|
YES |
|
NO |
|
|
1. |
ARE WORKER’S COMPENSATION, GENERAL LIABILITY AND OTHER |
|
|
|
|
|
|
|
NECESSARY INSURANCE COVERAGES IN EFFECT? |
|
X |
|
|
|
|
2. |
ARE ALL PREMIUM PAYMENTS PAID CURRENT? |
|
X |
|
|
|
|
3. |
PLEASE ITEMIZE POLICIES BELOW. |
|
|
|
|
|
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “NO,” OR IF ANY POLICIES HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSTALLMENT PAYMENTS
|
TYPE OF |
|
|
|
|
|
PAYMENT AMOUNT |
|
|
POLICY |
|
CARRIER |
|
PERIOD COVERED |
|
& FREQUENCY |
|
|
General Liability Insurance |
|
ACE American Insurance |
|
8/16/2011 to 8/16/2012 |
|
$39,452.99 paid monthly |
|
|
Business Auto |
|
ACE American Insurance |
|
8/16/2011 to 8/16/2012 |
|
to Premium Assignment |
|
|
Umbrella |
|
ACE Property & Casualty |
|
8/16/2011 to 8/16/2012 |
|
Corporation. |
|
|
Umbrella Extension |
|
Gotham Insurance Company |
|
8/16/2011 to 8/16/2012 |
|
1 payment remains at |
|
|
Marine Insurance |
|
AGCS Marine Insurance Co. |
|
8/16/2011 to 8/16/2012 |
|
4/30/2012 |
|
|
COW |
|
Lloyds of London |
|
8/16/2011 to 8/16/2012 |
|
|
|
MOR-1a
|
1160000000 Intercompany Receivable/Payable Account |
|
$ |
(60,537,017 |
) |
|
1160001001 Intercompany Receivable/Payable CC 1001 |
|
$ |
(3,825,728 |
) |
|
1160001004 Intercompany Receivable/Payable CC 1004 |
|
$ |
(505 |
) |
|
1160001005 Intercompany Receivable/Payable CC 1005 |
|
$ |
(88,659 |
) |
|
|
|
$ |
(64,451,909 |
) |
|
|
|
|
| |
|
3800000000 Asset Retirement Obligation Short Term |
|
(220,459.60 |
) | |
|
4800000000 Asset Retirement Obligation Long Term |
|
(1,408,343.66 |
) | |
|
|
|
|
| |
|
|
|
(1,628,803.26 |
) | |
|
|
|
|
| |
|
Grand Total |
|
$ |
(66,080,712.14 |
) |
MOR-2a
|
Severance Taxes |
|
$ |
56,100 |
|
MOR - 3a
|
Insurance check for Cato office |
|
$ |
12,239 |
|
MOR-3b
|
LOE TOTAL |
|
$ |
226,724 |
|
MOR 4a
|
March Estimated Severance taxes |
|
36,500.00 |
|
|
April Estimated Severance taxes |
|
19,600.00 |
|
|
Total Taxes Due |
|
56,100.00 |
|
MOR - 1b
|
Blanket Bond CD |
|
25,000.00 |
|
|
Pioneer Bank CD Bond |
|
250,000.00 |
|
|
Various Bonds |
|
764,657.00 |
|
|
|
|
|
|
|
|
|
1,039,657.00 |
|
Exhibit 99.3
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Ladder Companies, Inc. |
ACCRUAL BASIS |
|
|
|
|
CASE NUMBER: 12-31551-bjh-11 |
|
|
|
|
|
JUDGE: Barbara J. Houser |
|
UNITED STATES BANKRUPTCY COURT
NORTHERN AND EASTERN
DISTRICT OF
TEXAS
DIVISION 6
MONTHLY OPERATING REPORT
MONTH ENDING: April 30th, 2012
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY): IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
|
RESPONSIBLE PARTY: |
|
|
|
|
|
|
|
/s/ John H Homier |
|
CFO |
|
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY |
|
TITLE |
|
|
|
|
|
John H. Homier |
|
5/21/2012 |
|
PRINTED NAME OF RESPONSIBLE PARTY |
|
DATE |
|
|
|
|
|
|
|
|
|
PREPARER: |
|
|
|
|
|
|
|
/s/ Adrian Lamberti |
|
Controller |
|
ORIGINAL SIGNATURE OF PREPARER |
|
TITLE |
|
|
|
|
|
Adrian Lamberti |
|
5/21/2012 |
|
PRINTED NAME OF PREPARER |
|
DATE |
|
|
|
Monthly Operating Report |
|
|
|
|
|
CASE NAME: Ladder Companies, Inc. |
|
ACCRUAL BASIS-1 |
|
|
|
|
|
CASE NUMBER: 12-31551-bjh-11 |
|
|
COMPARATIVE BALANCE SHEET
|
|
|
|
|
SCHEDULE |
|
MONTH |
|
MONTH |
|
MONTH |
| |||||
|
|
|
AMOUNT |
|
3/31/2012 |
|
April 2012 |
|
|
| |||||||
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
| |||||
|
1. |
|
UNRESTRICTED CASH |
|
|
|
$ |
396,717 |
|
$ |
871,232 |
|
|
| |||
|
2. |
|
RESTRICTED CASH |
|
$ |
0 |
|
|
|
|
|
|
| ||||
|
3. |
|
TOTAL CASH |
|
$ |
0 |
|
$ |
396,717 |
|
$ |
0 |
|
$ |
0 |
| |
|
4. |
|
ACCOUNTS RECEIVABLE (NET) |
|
$ |
343,000 |
|
$ |
474,000 |
|
$ |
481,000 |
|
|
| ||
|
5. |
|
INVENTORY |
|
$ |
161,500 |
|
$ |
75,945 |
|
$ |
73,738 |
|
|
| ||
|
6. |
|
NOTES RECEIVABLE |
|
|
|
|
|
|
|
|
| |||||
|
7. |
|
PREPAID EXPENSES |
|
|
|
$ |
102,950 |
|
$ |
214,429 |
|
|
| |||
|
8. |
|
OTHER (MOR-1 Exhibit 1) (1) |
|
$ |
275,000 |
|
$ |
10,675,638 |
|
$ |
10,997,969 |
|
|
| ||
|
9. |
|
TOTAL CURRENT ASSETS |
|
$ |
779,500 |
|
$ |
11,725,250 |
|
$ |
12,638,368 |
|
$ |
0 |
| |
|
10. |
|
PROPERTY, PLANT & EQUIPMENT |
|
$ |
752,700 |
|
$ |
14,326,615 |
|
$ |
14,326,615 |
|
|
| ||
|
11. |
|
LESS: ACCUMULATED DEPRECIATION / DEPLETION |
|
|
|
$ |
2,990,284 |
|
$ |
3,016,995 |
|
|
| |||
|
12. |
|
NET PROPERTY, PLANT & EQUIPMENT |
|
$ |
752,700 |
|
$ |
11,336,331 |
|
$ |
11,309,620 |
|
$ |
0 |
| |
|
13. |
|
DUE FROM INSIDERS |
|
|
|
|
|
|
|
|
| |||||
|
14. |
|
OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) |
|
|
|
|
|
|
|
|
| |||||
|
15. |
|
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| |||||
|
16. |
|
TOTAL ASSETS |
|
$ |
1,532,200 |
|
$ |
23,061,581 |
|
$ |
23,947,988 |
|
$ |
0 |
| |
|
POSTPETITION LIABILITIES |
|
|
|
|
|
|
|
|
| |||||||
|
17. |
|
ACCOUNTS PAYABLE |
|
|
|
$ |
38,728 |
|
$ |
83,387 |
|
|
| |||
|
18. |
|
TAXES PAYABLE |
|
|
|
|
|
|
|
|
| |||||
|
19. |
|
NOTES PAYABLE |
|
|
|
|
|
|
|
|
| |||||
|
20. |
|
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| |||||
|
21. |
|
SECURED DEBT |
|
|
|
|
|
|
|
|
| |||||
|
22. |
|
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| |||||
|
23. |
|
TOTAL POSTPETITION LIABILITIES |
|
|
|
$ |
38,728 |
|
$ |
83,387 |
|
$ |
0 |
| ||
|
PREPETITION LIABILITIES |
|
|
|
|
|
|
|
|
| |||||||
|
24. |
|
SECURED DEBT (2) |
|
$ |
80,995,000 |
|
|
|
|
|
|
| ||||
|
25. |
|
PRIORITY DEBT |
|
$ |
2,509 |
|
$ |
2,509 |
|
$ |
2,509 |
|
|
| ||
|
26. |
|
UNSECURED DEBT |
|
$ |
311,930 |
|
$ |
311,930 |
|
$ |
311,930 |
|
|
| ||
|
27. |
|
OTHER |
|
|
|
$ |
339,464 |
|
$ |
339,464 |
|
|
| |||
|
28. |
|
TOTAL PREPETITION LIABILITIES |
|
$ |
81,309,440 |
|
$ |
653,903 |
|
$ |
653,903 |
|
$ |
0 |
| |
|
29. |
|
TOTAL LIABILITIES |
|
$ |
81,309,440 |
|
$ |
692,631 |
|
$ |
737,290 |
|
$ |
0 |
| |
|
EQUITY |
|
|
|
|
|
|
|
|
| |||||||
|
30. |
|
PREPETITION OWNERS’ EQUITY |
|
|
|
$ |
22,401,652 |
|
$ |
22,401,652 |
|
|
| |||
|
31. |
|
POSTPETITION CUMULATIVE PROFIT OR (LOSS) |
|
|
|
$ |
279,228 |
|
$ |
809,046 |
|
|
| |||
|
32. |
|
DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) |
|
|
|
|
|
|
|
|
| |||||
|
33. |
|
TOTAL EQUITY |
|
$ |
(79,777,240 |
) |
$ |
22,680,880 |
|
$ |
23,210,698 |
|
$ |
0 |
| |
|
34. |
|
TOTAL LIABILITIES & OWNERS’ EQUITY |
|
$ |
1,532,200 |
|
$ |
23,373,511 |
|
$ |
23,947,988 |
|
$ |
0 |
| |
(1) Includes consolidated retainer of $250,000 for Cano Petroleum, Inc. and its related debtor entities
(2) For balance sheet purposes, the secured debt for Cano Petroleum, Inc. and its subsidiaries is carried in total by Cano Petroleum, Inc.
|
|
|
Monthly Operating Report |
|
|
|
|
|
CASE NAME: Ladder Companies, Inc. |
|
ACCRUAL BASIS-2 |
|
|
|
|
|
CASE NUMBER: 12-31551-bjh-11 |
|
|
INCOME STATEMENT
|
|
|
|
MONTH |
|
MONTH |
|
MONTH |
|
MONTH |
| |||||
|
|
|
|
March 2012 |
|
April 2012 |
|
|
|
|
| |||||
|
REVENUES |
|
|
|
|
|
|
|
|
| ||||||
|
1. |
GROSS REVENUES |
|
$ |
474,000 |
|
$ |
735,000 |
|
|
|
|
| |||
|
2. |
LESS: RETURNS & DISCOUNTS |
|
|
|
|
|
|
|
|
| |||||
|
3. |
NET REVENUE |
|
$ |
474,000 |
|
$ |
735,000 |
|
$ |
0 |
|
$ |
0 |
| |
|
COST OF GOODS SOLD |
|
|
|
|
|
|
|
|
| ||||||
|
4. |
MATERIAL |
|
|
|
|
|
|
|
|
| |||||
|
5. |
DIRECT LABOR (LOE) |
|
$ |
168,726 |
|
$ |
173,809 |
|
|
|
|
| |||
|
6. |
DIRECT OVERHEAD |
|
|
|
|
|
|
|
|
| |||||
|
7. |
TOTAL COST OF GOODS SOLD |
|
$ |
168,726 |
|
$ |
173,809 |
|
$ |
0 |
|
$ |
0 |
| |
|
8. |
GROSS PROFIT |
|
$ |
305,274 |
|
$ |
561,191 |
|
$ |
0 |
|
$ |
0 |
| |
|
OPERATING EXPENSES |
|
|
|
|
|
|
|
|
| ||||||
|
9. |
OFFICER / INSIDER COMPENSATION |
|
|
|
|
|
|
|
|
| |||||
|
10. |
SELLING & MARKETING |
|
|
|
|
|
|
|
|
| |||||
|
11. |
GENERAL & ADMINISTRATIVE |
|
|
|
$ |
4,418 |
|
|
|
|
| ||||
|
12. |
RENT & LEASE |
|
|
|
|
|
|
|
|
| |||||
|
13. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| |||||
|
14. |
TOTAL OPERATING EXPENSES |
|
$ |
0 |
|
$ |
4,418 |
|
$ |
0 |
|
$ |
0 |
| |
|
15. |
INCOME BEFORE NON-OPERATING INCOME & EXPENSE |
|
$ |
305,274 |
|
$ |
556,773 |
|
$ |
0 |
|
$ |
0 |
| |
|
OTHER INCOME & EXPENSES |
|
|
|
|
|
|
|
|
| ||||||
|
16. |
NON-OPERATING INCOME (ATT. LIST) |
|
|
|
|
|
|
|
|
| |||||
|
17. |
NON-OPERATING EXPENSE (ATT. LIST) |
|
|
|
|
|
|
|
|
| |||||
|
18. |
INTEREST EXPENSE |
|
$ |
74 |
|
$ |
244 |
|
|
|
|
| |||
|
19. |
DEPRECIATION / DEPLETION |
|
$ |
25,322 |
|
$ |
26,711 |
|
|
|
|
| |||
|
20. |
AMORTIZATION |
|
|
|
|
|
|
|
|
| |||||
|
21. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| |||||
|
22. |
NET OTHER INCOME & EXPENSES |
|
$ |
25,396 |
|
$ |
26,955 |
|
$ |
0 |
|
$ |
0 |
| |
|
REORGANIZATION EXPENSES |
|
|
|
|
|
|
|
|
| ||||||
|
23. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| |||||
|
24. |
U.S. TRUSTEE FEES |
|
$ |
650 |
|
$ |
0 |
|
|
|
|
| |||
|
25. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| |||||
|
26. |
TOTAL REORGANIZATION EXPENSES |
|
$ |
650 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| |
|
27. |
INCOME TAX |
|
|
|
|
|
|
|
|
| |||||
|
28. |
NET PROFIT (LOSS) |
|
$ |
279,228 |
|
$ |
529,818 |
|
$ |
0 |
|
$ |
0 |
| |
|
|
|
Monthly Operating Report |
|
|
|
|
|
CASE NAME: Ladder Companies, Inc. |
|
ACCRUAL BASIS-3 |
|
|
|
|
|
CASE NUMBER: 12-31551-bjh-11 |
|
|
|
|
|
|
MONTH |
|
MONTH |
|
MONTH |
|
QUARTER |
| ||||
|
|
|
|
3/8/2012 to 3/31/2012 |
|
April 2012 |
|
|
|
TOTAL |
| ||||
|
CASH RECEIPTS AND DISBURSEMENTS |
|
|
|
|
|
|
|
|
| |||||
|
1. |
CASH - BEGINNING OF MONTH |
|
$ |
0 |
|
$ |
396,717 |
|
|
|
|
| ||
|
RECEIPTS FROM OPERATIONS |
|
|
|
|
|
|
|
|
| |||||
|
2. |
CASH SALES |
|
|
|
|
|
|
|
|
| ||||
|
COLLECTION OF ACCOUNTS RECEIVABLE |
|
|
|
|
|
|
|
|
| |||||
|
3. |
PREPETITION |
|
$ |
437,113 |
|
|
|
|
|
|
| |||
|
4. |
POSTPETITION |
|
|
|
$ |
729,868 |
|
|
|
|
| |||
|
5. |
TOTAL OPERATING RECEIPTS |
|
$ |
437,113 |
|
$ |
729,868 |
|
$ |
0 |
|
$ |
0 |
|
|
NON-OPERATING RECEIPTS |
|
|
|
|
|
|
|
|
| |||||
|
6. |
LOANS & ADVANCES (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
7. |
SALE OF ASSETS |
|
|
|
|
|
|
|
|
| ||||
|
8. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
9. |
TOTAL NON-OPERATING RECEIPTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
10. |
TOTAL RECEIPTS |
|
$ |
437,113 |
|
$ |
729,868 |
|
$ |
0 |
|
$ |
0 |
|
|
11. |
TOTAL CASH AVAILABLE |
|
$ |
437,113 |
|
$ |
1,126,584 |
|
$ |
0 |
|
$ |
0 |
|
|
OPERATING DISBURSEMENTS |
|
|
|
|
|
|
|
|
| |||||
|
12. |
NET PAYROLL |
|
$ |
8,057 |
|
$ |
18,993 |
|
|
|
|
| ||
|
13. |
PAYROLL TAXES PAID |
|
$ |
670 |
|
$ |
1,407 |
|
|
|
|
| ||
|
14. |
SALES, USE & OTHER TAXES PAID |
|
$ |
517 |
|
$ |
63 |
|
|
|
|
| ||
|
15. |
SECURED / RENTAL / LEASES |
|
|
|
|
|
|
|
|
| ||||
|
16. |
UTILITIES (2) |
|
$ |
161 |
|
$ |
155,164 |
|
|
|
|
| ||
|
17. |
INSURANCE |
|
|
|
|
|
|
|
|
| ||||
|
18. |
INVENTORY PURCHASES |
|
|
|
|
|
|
|
|
| ||||
|
19. |
VEHICLE EXPENSES |
|
$ |
836 |
|
|
|
|
|
|
| |||
|
20. |
TRAVEL |
|
|
|
|
|
|
|
|
| ||||
|
21. |
ENTERTAINMENT |
|
|
|
|
|
|
|
|
| ||||
|
22. |
REPAIRS & MAINTENANCE |
|
$ |
30,154 |
|
$ |
751 |
|
|
|
|
| ||
|
23. |
SUPPLIES |
|
|
|
$ |
88 |
|
|
|
|
| |||
|
24. |
ADVERTISING |
|
|
|
|
|
|
|
|
| ||||
|
25. |
OTHER (Exhibit 3) |
|
|
|
$ |
78,886 |
|
|
|
|
| |||
|
26. |
TOTAL OPERATING DISBURSEMENTS |
|
$ |
40,396 |
|
$ |
255,352 |
|
$ |
0 |
|
$ |
0 |
|
|
REORGANIZATION EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
27. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
28. |
U.S. TRUSTEE FEES |
|
|
|
|
|
|
|
|
| ||||
|
29. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
30. |
TOTAL REORGANIZATION EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
31. |
TOTAL DISBURSEMENTS |
|
$ |
40,396 |
|
$ |
255,352 |
|
$ |
0 |
|
$ |
0 |
|
|
32. |
NET CASH FLOW |
|
$ |
396,717 |
|
$ |
474,515 |
|
$ |
0 |
|
$ |
0 |
|
|
33. |
CASH - END OF MONTH (1) |
|
$ |
396,717 |
|
$ |
871,232 |
|
$ |
0 |
|
$ |
0 |
|
(1) Exclusive of cash sweep from zero balance accounts to concentration account at Cano Petroleum, Inc.
(2) Includes Utility deposits of $ 126,003
|
|
|
Monthly Operating Report |
|
|
|
|
|
CASE NAME: Ladder Companies, Inc. |
|
ACCRUAL BASIS-4 |
|
|
|
|
|
CASE NUMBER: 12-31551-bjh-11 |
|
|
|
|
|
|
SCHEDULE |
|
MONTH |
|
MONTH |
|
MONTH |
| ||||
|
|
|
|
AMOUNT |
|
3/31/2012 |
|
April 2012 |
|
|
| ||||
|
ACCOUNTS RECEIVABLE AGING |
|
|
|
|
|
|
|
|
| |||||
|
1. |
0-30 |
|
$ |
343,000 |
|
$ |
474,000 |
|
$ |
481,000 |
|
|
| |
|
2. |
31-60 |
|
|
|
|
|
|
|
|
| ||||
|
3. |
61-90 |
|
|
|
|
|
|
|
|
| ||||
|
4. |
91+ |
|
|
|
|
|
|
|
|
| ||||
|
5. |
TOTAL ACCOUNTS RECEIVABLE |
|
$ |
343,000 |
|
$ |
474,000 |
|
$ |
481,000 |
|
$ |
0 |
|
|
6. |
AMOUNT CONSIDERED UNCOLLECTIBLE |
|
|
|
|
|
|
|
|
| ||||
|
7. |
ACCOUNTS RECEIVABLE (NET) |
|
$ |
343,000 |
|
$ |
474,000 |
|
$ |
481,000 |
|
$ |
0 |
|
|
AGING OF POSTPETITION TAXES AND PAYABLES (1) |
MONTH: |
April 2012 |
|
|
|
|
0-30 |
|
31-60 |
|
61-90 |
|
91+ |
|
|
| |||||
|
|
|
|
DAYS |
|
DAYS |
|
DAYS |
|
DAYS |
|
TOTAL |
| |||||
|
TAXES PAYABLE |
|
|
|
|
|
|
|
|
|
|
| ||||||
|
1. |
FEDERAL |
|
|
|
|
|
|
|
|
|
|
| |||||
|
2. |
STATE |
|
|
|
|
|
|
|
|
|
|
| |||||
|
3. |
LOCAL |
|
|
|
|
|
|
|
|
|
|
| |||||
|
4. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
|
|
| |||||
|
5. |
TOTAL TAXES PAYABLE |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
6. |
ACCOUNTS PAYABLE |
|
$ |
83,387 |
|
|
|
|
|
|
|
|
| ||||
|
STATUS OF POSTPETITION TAXES (1) |
MONTH: April 2012 |
|
|
|
|
BEGINNING |
|
AMOUNT |
|
|
|
ENDING |
| ||||
|
|
|
|
TAX |
|
WITHHELD AND/ |
|
AMOUNT |
|
TAX |
| ||||
|
|
|
|
LIABILITY* |
|
OR ACCRUED |
|
PAID |
|
LIABILITY |
| ||||
|
FEDERAL |
|
|
|
|
|
|
|
|
| |||||
|
1. |
WITHHOLDING** |
|
|
|
|
|
|
|
|
| ||||
|
2. |
FICA-EMPLOYEE** |
|
|
|
|
|
|
|
|
| ||||
|
3. |
FICA-EMPLOYER** |
|
|
|
|
|
|
|
|
| ||||
|
4. |
UNEMPLOYMENT |
|
|
|
|
|
|
|
|
| ||||
|
5. |
INCOME |
|
|
|
|
|
|
|
|
| ||||
|
6. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
7. |
TOTAL FEDERAL TAXES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
STATE AND LOCAL |
|
|
|
|
|
|
|
|
| |||||
|
8. |
WITHHOLDING |
|
|
|
|
|
|
|
|
| ||||
|
9. |
SALES |
|
|
|
|
|
|
|
|
| ||||
|
10. |
EXCISE |
|
|
|
|
|
|
|
|
| ||||
|
11. |
UNEMPLOYMENT |
|
|
|
|
|
|
|
|
| ||||
|
12. |
REAL PROPERTY |
|
|
|
|
|
|
|
|
| ||||
|
13. |
PERSONAL PROPERTY |
|
|
|
|
|
|
|
|
| ||||
|
14. |
OTHER (ATTACH LIST) |
|
$ |
63 |
|
|
|
$ |
63 |
|
|
| ||
|
15. |
TOTAL STATE & LOCAL |
|
$ |
63 |
|
$ |
0 |
|
$ |
63 |
|
$ |
0 |
|
|
16. |
TOTAL TAXES |
|
$ |
63 |
|
$ |
0 |
|
$ |
63 |
|
$ |
0 |
|
|
* |
|
The beginning tax liability should represent the liability from the prior month or, if this is the first operating report, the amount should be zero. |
|
** |
|
Attach photocopies of IRS Form 6123 or your FTD coupon and payment receipt to verify payment or deposit. |
|
(1) |
|
Only taxes paid directly by Cano Petroleum, Inc. and its subsidiaries; taxes paid on their behalf by others (e.g. first purchasers and PEO — Resourcing Edge) are not shown |
|
|
|
Monthly Operating Report |
|
|
|
|
|
CASE NAME: Ladder Companies, Inc. |
|
ACCRUAL BASIS-5 |
|
|
|
|
|
CASE NUMBER: 12-31551-bjh-11 |
|
|
The debtor in possession must complete the reconciliation below for each bank account, including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc. Accounts with restricted funds should be identified by placing an asterisk next to the account number. Attach additional sheets if necessary.
|
|
|
MONTH: |
April 2012 |
BANK RECONCILIATIONS
|
|
|
Account #1 |
|
Account #2 |
|
Account #3 |
|
|
| |||||
|
A. |
BANK: |
|
Bank of Texas N.A |
|
Bank of Texas N.A |
|
|
|
|
| ||||
|
B. |
ACCOUNT NUMBER: |
|
31013031 |
|
8092488376 |
|
|
|
|
| ||||
|
C. |
PURPOSE (TYPE): |
|
Checking |
|
Checking |
|
|
|
TOTAL |
| ||||
|
1. |
BALANCE PER BANK STATEMENT |
|
$ |
1,515 |
|
$ |
5,500 |
|
|
|
$ |
7,015 |
| |
|
2. |
ADD: TOTAL DEPOSITS NOT CREDITED |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
3. |
SUBTRACT: OUTSTANDING CHECKS |
|
33,351.00 |
|
19,487.81 |
|
|
|
$ |
52,839 |
| |||
|
4. |
OTHER RECONCILING ITEMS |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
5. |
MONTH END BALANCE PER BOOKS (1) |
|
$ |
(31,836 |
) |
$ |
(13,988 |
) |
$ |
0 |
|
$ |
(45,824 |
) |
|
6. |
NUMBER OF LAST CHECK WRITTEN |
|
1011000564 |
|
1003001390 |
|
|
|
|
| ||||
INVESTMENT ACCOUNTS
|
|
|
|
DATE OF |
|
TYPE OF |
|
PURCHASE |
|
CURRENT |
| ||||
|
BANK, ACCOUNT NAME & NUMBER |
|
PURCHASE |
|
INSTRUMENT |
|
PRICE |
|
VALUE |
| |||||
|
7. |
|
|
|
|
|
|
|
|
|
| ||||
|
8. |
|
|
|
|
|
|
|
|
|
| ||||
|
9. |
|
|
|
|
|
|
|
|
|
| ||||
|
10. |
|
|
|
|
|
|
|
|
|
| ||||
|
11. |
TOTAL INVESTMENTS |
|
|
|
|
|
$ |
0 |
|
$ |
0 |
| ||
CASH
|
12. |
CURRENCY ON HAND |
|
$ |
0 |
|
|
|
|
|
|
| |
|
13. |
TOTAL CASH - END OF MONTH |
|
$ |
(45,824 |
) |
(1) Includes effect of cash sweeps from zero balance accounts to concentration account at Cano Petroleum, Inc.
|
|
|
Monthly Operating Report |
|
|
|
|
|
CASE NAME: Ladder Companies, Inc. |
|
ACCRUAL BASIS-6 |
|
|
|
|
|
CASE NUMBER: 12-31551-bjh-11 |
|
|
|
|
|
|
|
|
|
MONTH: April 2012 |
PAYMENTS TO INSIDERS AND PROFESSIONALS
OF THE TOTAL DISBURSEMENTS SHOWN FOR THE MONTH, LIST THE AMOUNT PAID TO INSIDERS (AS DEFINED IN SECTION 101 (31) (A)-(F) OF THE U.S. BANKRUPTCY CODE) AND TO PROFESSIONALS. ALSO, FOR PAYMENTS TO INSIDERS, IDENTIFY THE TYPE OF COMPENSATION PAID (e.g. SALARY, BONUS, COMMISSIONS, INSURANCE, HOUSING ALLOWANCE, TRAVEL, CAR ALLOWANCE, ETC.). ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSIDERS
|
|
|
|
TYPE OF |
|
AMOUNT |
|
TOTAL PAID |
| ||
|
NAME |
|
PAYMENT |
|
PAID |
|
TO DATE |
| |||
|
1. |
|
|
|
|
|
|
|
| ||
|
2. |
|
|
|
|
|
|
|
| ||
|
3. |
|
|
|
|
|
|
|
| ||
|
4. |
|
|
|
|
|
|
|
| ||
|
5. |
|
|
|
|
|
|
|
| ||
|
6. |
TOTAL PAYMENTS TO INSIDERS |
|
$ |
0 |
|
$ |
0 |
| ||
PROFESSIONALS
|
|
|
|
DATE OF COURT |
|
|
|
|
|
|
|
TOTAL |
| ||||
|
|
|
|
ORDER AUTHORIZING |
|
AMOUNT |
|
AMOUNT |
|
TOTAL PAID |
|
INCURRED |
| ||||
|
NAME |
|
PAYMENT |
|
APPROVED |
|
PAID |
|
TO DATE |
|
& UNPAID * |
| |||||
|
1. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
2. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
3. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
4. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
5. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
6. |
TOTAL PAYMENTS TO PROFESSIONALS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| ||
* INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
|
|
|
|
SCHEDULED |
|
AMOUNTS |
|
|
| |||
|
|
|
|
MONTHLY |
|
PAID |
|
TOTAL |
| |||
|
|
|
|
PAYMENTS |
|
DURING |
|
UNPAID |
| |||
|
NAME OF CREDITOR |
|
DUE |
|
MONTH |
|
POSTPETITION |
| ||||
|
1. |
|
|
|
|
|
|
|
| |||
|
2. |
|
|
|
|
|
|
|
| |||
|
3. |
|
|
|
|
|
|
|
| |||
|
4. |
|
|
|
|
|
|
|
| |||
|
5. |
|
|
|
|
|
|
|
| |||
|
6. |
TOTAL |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
|
|
Monthly Operating Report | |
|
|
|
| |
|
CASE NAME: Ladder Companies, Inc. |
|
ACCRUAL BASIS-7 | |
|
|
|
| |
|
CASE NUMBER: 12-31551-bjh-11 |
|
| |
|
|
|
| |
|
|
|
MONTH: |
April 2012 |
QUESTIONNAIRE
|
|
|
|
YES |
|
NO |
|
1. |
HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? |
|
|
|
X |
|
2. |
HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? |
|
|
|
X |
|
3. |
ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? |
|
|
|
X |
|
4. |
HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? |
|
X |
|
|
|
5. |
HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? |
|
|
|
X |
|
6. |
ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? |
|
|
|
X |
|
7. |
ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? |
|
|
|
X |
|
8. |
ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? |
|
|
|
X |
|
9. |
ARE ANY OTHER POSTPETITION TAXES PAST DUE? |
|
|
|
X |
|
10. |
ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? |
|
|
|
X |
|
11. |
HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? |
|
|
|
X |
|
12. |
ARE ANY WAGE PAYMENTS PAST DUE? |
|
|
|
X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “YES,” PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
Royalties totaling $2,668 were paid to owners in accordance with court order
INSURANCE
|
|
|
YES |
|
NO |
|
1. |
ARE WORKER’S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? |
X |
|
|
|
2. |
ARE ALL PREMIUM PAYMENTS PAID CURRENT? |
X |
|
|
|
3. |
PLEASE ITEMIZE POLICIES BELOW. |
|
|
|
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “NO,” OR IF ANY POLICIES HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSTALLMENT PAYMENTS
|
TYPE OF |
|
|
|
|
|
PAYMENT AMOUNT |
|
POLICY |
|
CARRIER |
|
PERIOD COVERED |
|
& FREQUENCY |
|
General Liability Insurance |
|
ACE American Insurance |
|
8/16/2011 to 8/16/2012 |
|
$ 39,452.99 paid monthly |
|
Business Auto |
|
ACE American Insurance |
|
8/16/2011 to 8/16/2012 |
|
to Premium Assignment |
|
Umbrella |
|
ACE Property & Casualty |
|
8/16/2011 to 8/16/2012 |
|
Corporation. |
|
Umbrella Extension |
|
Gotham Insurance Company |
|
8/16/2011 to 8/16/2012 |
|
1 payment remains at |
|
Marine Insurance |
|
AGCS Marine Insurance Co. |
|
8/16/2011 to 8/16/2012 |
|
4/30/2012 |
|
COW |
|
Lloyds of London |
|
8/16/2011 to 8/16/2012 |
|
|
MOR-1 Exhibit 1
|
1160000000 Intercompany Receivable/Payable Account |
|
$ |
(547,073.00 |
) |
|
1160001001 Intercompany Receivable/Payable CC 1001 |
|
$ |
11,647,499.00 |
|
|
1160001003 Intercompany Receivable/Payable CC 1003 |
|
$ |
1,221.00 |
|
|
1160001004 Intercompany Receivable/Payable CC 1004 |
|
$ |
898.00 |
|
|
1160001005 Intercompany Receivable/Payable CC 1005 |
|
$ |
(3,355.00 |
) |
|
1160001011 Intercompany Receivable/Payable CC 1011 |
|
$ |
(1,221.00 |
) |
|
Intercompany Adjustment |
|
$ |
(100,000.00 |
) |
|
|
|
$ |
10,997,969.00 |
|
MOR-1 Exhibit 2
|
3800000000 Asset Retirement Obligation Short Term |
|
$ |
(5,476.10 |
) |
|
4800000000 Asset Retirement Obligation Long Term |
|
$ |
(333,988.28 |
) |
|
|
|
$ |
(339,464.38 |
) |
MOR-3 Exhibit 3
|
LOE TOTAL |
|
78,886.20 |
|
Exhibit 99.4
|
|
Monthly Operating Report | |
|
|
| |
|
CASE NAME: Square One Energy, Inc. |
ACCRUAL BASIS | |
|
|
| |
|
CASE NUMBER: 12-31552-bjh-11 |
| |
|
|
| |
|
JUDGE: |
Barbara J. Houser |
|
UNITED STATES BANKRUPTCY COURT
NORTHERN AND EASTERN
DISTRICT OF
TEXAS
DIVISION 6
MONTHLY OPERATING REPORT
MONTH ENDING: April 30th, 2012
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY): IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
RESPONSIBLE PARTY:
|
/s/ John H. Homier |
|
CFO |
|
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY |
|
TITLE |
|
|
|
|
|
John H. Homier |
|
5/21/2012 |
|
PRINTED NAME OF RESPONSIBLE PARTY |
|
DATE |
|
|
|
|
|
|
|
|
|
PREPARER: |
|
|
|
|
|
|
|
/s/ Adrian Lamberti |
|
Controller |
|
ORIGINAL SIGNATURE OF PREPARER |
|
TITLE |
|
|
|
|
|
Adrian Lamberti |
|
5/21/2012 |
|
PRINTED NAME OF PREPARER |
|
DATE |
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Square One Energy, Inc. |
ACCRUAL BASIS-1 |
|
|
|
|
CASE NUMBER: 12-31552-bjh-11 |
|
|
|
|
|
COMPARATIVE BALANCE SHEET |
|
|
|
|
SCHEDULE |
|
MONTH |
|
MONTH |
|
MONTH |
| |||||
|
|
|
AMOUNT |
|
March 2012 |
|
April 2012 |
|
|
| |||||
|
ASSETS |
|
|
|
|
|
|
|
|
| |||||
|
1. |
UNRESTRICTED CASH |
|
|
|
$ |
37,012 |
|
$ |
34,197 |
|
|
| ||
|
2. |
RESTRICTED CASH |
|
|
|
|
|
|
|
|
| ||||
|
3. |
TOTAL CASH |
|
$ |
0 |
|
$ |
37,012 |
|
$ |
34,197 |
|
$ |
0 |
|
|
4. |
ACCOUNTS RECEIVABLE (NET) |
|
$ |
49,000 |
|
$ |
49,000 |
|
$ |
41,000 |
|
|
| |
|
5. |
INVENTORY |
|
$ |
50,100 |
|
$ |
18,231 |
|
$ |
18,905 |
|
|
| |
|
6. |
NOTES RECEIVABLE |
|
|
|
|
|
|
|
|
| ||||
|
7. |
PREPAID EXPENSES |
|
|
|
$ |
27,371 |
|
$ |
44,280 |
|
|
| ||
|
8. |
OTHER (1) MOR-1c |
|
$ |
520,000 |
|
$ |
270,000 |
|
$ |
270,000 |
|
|
| |
|
9. |
TOTAL CURRENT ASSETS |
|
$ |
619,100 |
|
$ |
401,614 |
|
$ |
408,382 |
|
$ |
0 |
|
|
10. |
PROPERTY, PLANT & EQUIPMENT |
|
$ |
105,733 |
|
$ |
42,468,270 |
|
$ |
42,468,270 |
|
|
| |
|
11. |
LESS: ACCUMULATED DEPRECIATION / DEPLETION |
|
|
|
$ |
42,514,068 |
|
$ |
42,546,425 |
|
|
| ||
|
12. |
NET PROPERTY, PLANT & EQUIPMENT |
|
$ |
105,733 |
|
$ |
(45,798 |
) |
$ |
(78,155 |
) |
$ |
0 |
|
|
13. |
DUE FROM INSIDERS |
|
|
|
|
|
|
|
|
| ||||
|
14. |
OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
15. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
16. |
TOTAL ASSETS |
|
$ |
724,833 |
|
$ |
355,816 |
|
$ |
330,227 |
|
$ |
0 |
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
POSTPETITION LIABILITIES |
|
|
|
|
|
|
|
|
| |||||
|
17. |
ACCOUNTS PAYABLE |
|
|
|
$ |
7,973 |
|
$ |
46,269 |
|
|
| ||
|
18. |
TAXES PAYABLE |
|
|
|
|
|
|
|
|
| ||||
|
19. |
NOTES PAYABLE |
|
|
|
|
|
|
|
|
| ||||
|
20. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
21. |
SECURED DEBT |
|
|
|
|
|
|
|
|
| ||||
|
22. |
OTHER |
|
|
|
|
|
|
|
|
| ||||
|
23. |
TOTAL POSTPETITION LIABILITIES |
|
|
|
$ |
7,973 |
|
$ |
46,269 |
|
$ |
0 |
| |
|
PREPETITION LIABILITIES |
|
|
|
|
|
|
|
|
| |||||
|
24. |
SECURED DEBT |
|
$ |
80,995,000 |
|
|
|
|
|
|
| |||
|
25. |
PRIORITY DEBT |
|
$ |
43,188 |
|
$ |
43,188 |
|
$ |
41,000 |
|
|
| |
|
26. |
UNSECURED DEBT |
|
$ |
145,835 |
|
$ |
145,838 |
|
$ |
145,838 |
|
|
| |
|
27. |
OTHER (MOR-1 A and MOR-1 B) |
|
|
|
$ |
45,033,338 |
|
$ |
45,033,338 |
|
|
| ||
|
28. |
TOTAL PREPETITION LIABILITIES |
|
$ |
81,184,022 |
|
$ |
45,222,364 |
|
$ |
45,220,176 |
|
$ |
0 |
|
|
29. |
TOTAL LIABILITIES |
|
$ |
81,184,022 |
|
$ |
45,230,337 |
|
$ |
45,266,445 |
|
$ |
0 |
|
|
EQUITY |
|
|
|
|
|
|
|
|
| |||||
|
30. |
PREPETITION OWNERS’ EQUITY |
|
|
|
$ |
(44,895,341 |
) |
$ |
(44,895,341 |
) |
|
| ||
|
31. |
POSTPETITION CUMULATIVE PROFIT OR (LOSS) |
|
|
|
$ |
20,820 |
|
$ |
(40,877 |
) |
|
| ||
|
32. |
DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) |
|
|
|
|
|
|
|
|
| ||||
|
33. |
TOTAL EQUITY |
|
$ |
(80,459,189 |
) |
$ |
(44,874,521 |
) |
$ |
(44,936,218 |
) |
$ |
0 |
|
|
34. |
TOTAL LIABILITIES & OWNERS’ EQUITY |
|
$ |
724,833 |
|
$ |
355,816 |
|
$ |
330,227 |
|
$ |
0 |
|
(1) Includes consolidated retainer of $250,000 for Cano Petroleum, Inc. and its related debtor entities
(2) For balance sheet purposes, the secured debt for Cano Petroleum, Inc. and its subsidiaries is carried in total by Cano Petroleum, Inc.
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Square One Energy, Inc. |
ACCRUAL BASIS-2 |
|
|
|
|
CASE NUMBER: 12-31552-bjh-11 |
|
|
|
|
|
INCOME STATEMENT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MONTH |
|
MONTH |
|
MONTH |
|
MONTH |
| |||||
|
|
|
March 2012 |
|
April 2012 |
|
|
|
|
| |||||
|
REVENUES |
|
|
|
|
|
|
|
|
| |||||
|
1. |
GROSS REVENUES |
|
$ |
43,000 |
|
$ |
32,800 |
|
|
|
|
| ||
|
2. |
LESS: RETURNS & DISCOUNTS |
|
|
|
|
|
|
|
|
| ||||
|
3. |
NET REVENUE |
|
$ |
43,000 |
|
$ |
32,800 |
|
$ |
0 |
|
$ |
0 |
|
|
COST OF GOODS SOLD |
|
|
|
|
|
|
|
|
| |||||
|
4. |
MATERIAL |
|
|
|
|
|
|
|
|
| ||||
|
5. |
DIRECT LABOR (LOE) |
|
$ |
(779 |
) |
$ |
45,749 |
|
|
|
|
| ||
|
6. |
DIRECT OVERHEAD |
|
|
|
|
|
|
|
|
| ||||
|
7. |
TOTAL COST OF GOODS SOLD |
|
$ |
(779 |
) |
$ |
45,749 |
|
$ |
0 |
|
$ |
0 |
|
|
8. |
GROSS PROFIT |
|
$ |
43,779 |
|
$ |
(12,949 |
) |
$ |
0 |
|
$ |
0 |
|
|
OPERATING EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
9. |
OFFICER / INSIDER COMPENSATION |
|
|
|
|
|
|
|
|
| ||||
|
10. |
SELLING & MARKETING |
|
|
|
|
|
|
|
|
| ||||
|
11. |
GENERAL & ADMINISTRATIVE |
|
|
|
$ |
14,100 |
|
|
|
|
| |||
|
12. |
RENT & LEASE |
|
|
|
|
|
|
|
|
| ||||
|
13. |
OTHER |
|
|
|
|
|
|
|
|
| ||||
|
14. |
TOTAL OPERATING EXPENSES |
|
$ |
0 |
|
$ |
14,100 |
|
$ |
0 |
|
$ |
0 |
|
|
15. |
INCOME BEFORE NON-OPERATING INCOME & EXPENSE |
|
$ |
43,779 |
|
$ |
(27,049 |
) |
$ |
0 |
|
$ |
0 |
|
|
OTHER INCOME & EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
16. |
NON-OPERATING INCOME (ATT. LIST) |
|
|
|
|
|
|
|
|
| ||||
|
17. |
NON-OPERATING EXPENSE (ATT. LIST) |
|
|
|
|
|
|
|
|
| ||||
|
18. |
INTEREST EXPENSE |
|
$ |
667 |
|
$ |
2,291 |
|
|
|
|
| ||
|
19. |
DEPRECIATION / DEPLETION |
|
$ |
21,967 |
|
$ |
32,357 |
|
|
|
|
| ||
|
20. |
AMORTIZATION |
|
|
|
|
|
|
|
|
| ||||
|
21. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
22. |
NET OTHER INCOME & EXPENSES |
|
$ |
22,634 |
|
$ |
34,648 |
|
$ |
0 |
|
$ |
0 |
|
|
REORGANIZATION EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
23. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
24. |
U.S. TRUSTEE FEES |
|
$ |
325 |
|
|
|
|
|
|
| |||
|
25. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
26. |
TOTAL REORGANIZATION EXPENSES |
|
$ |
325 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
27. |
INCOME TAX |
|
|
|
|
|
|
|
|
| ||||
|
28. |
NET PROFIT (LOSS) |
|
$ |
20,820 |
|
$ |
(61,697 |
) |
$ |
0 |
|
$ |
0 |
|
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Square One Energy, Inc. |
ACCRUAL BASIS-3 |
|
|
|
|
CASE NUMBER: 12-31552-bjh-11 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||
|
|
|
MONTH |
|
MONTH |
|
MONTH |
|
QUARTER |
| |||||
|
|
|
3/8/12 to 3/31/12 |
|
April 2012 |
|
|
|
TOTAL |
| |||||
|
CASH RECEIPTS AND DISBURSEMENTS |
|
|
|
|
|
|
|
|
| |||||
|
1. |
CASH - BEGINNING OF MONTH |
|
$ |
0 |
|
$ |
37,012 |
|
|
|
|
| ||
|
RECEIPTS FROM OPERATIONS |
|
|
|
|
|
|
|
|
| |||||
|
2. |
CASH SALES |
|
|
|
|
|
|
|
|
| ||||
|
COLLECTION OF ACCOUNTS RECEIVABLE |
|
|
|
|
|
|
|
|
| |||||
|
3. |
PREPETITION |
|
$ |
45,662 |
|
|
|
|
|
|
| |||
|
4. |
POSTPETITION |
|
|
|
$ |
47,593 |
|
|
|
|
| |||
|
5. |
TOTAL OPERATING RECEIPTS |
|
$ |
45,662 |
|
$ |
47,593 |
|
$ |
0 |
|
$ |
0 |
|
|
NON-OPERATING RECEIPTS |
|
|
|
|
|
|
|
|
| |||||
|
6. |
LOANS & ADVANCES (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
7. |
SALE OF ASSETS |
|
|
|
|
|
|
|
|
| ||||
|
8. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
9. |
TOTAL NON-OPERATING RECEIPTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
10. |
TOTAL RECEIPTS |
|
$ |
45,662 |
|
$ |
47,593 |
|
$ |
0 |
|
$ |
0 |
|
|
11. |
TOTAL CASH AVAILABLE |
|
$ |
45,662 |
|
$ |
84,605 |
|
$ |
0 |
|
$ |
0 |
|
|
OPERATING DISBURSEMENTS |
|
|
|
|
|
|
|
|
| |||||
|
12. |
NET PAYROLL |
|
$ |
3,305 |
|
$ |
7,701 |
|
|
|
|
| ||
|
13. |
PAYROLL TAXES PAID |
|
$ |
235 |
|
$ |
471 |
|
|
|
|
| ||
|
14. |
SALES, USE & OTHER TAXES PAID |
|
$ |
240 |
|
$ |
2,188 |
|
|
|
|
| ||
|
15. |
SECURED / RENTAL / LEASES |
|
|
|
|
|
|
|
|
| ||||
|
16. |
UTILITIES (2) |
|
$ |
14 |
|
$ |
25,011 |
|
|
|
|
| ||
|
17. |
INSURANCE |
|
|
|
|
|
|
|
|
| ||||
|
18. |
INVENTORY PURCHASES |
|
|
|
|
|
|
|
|
| ||||
|
19. |
VEHICLE EXPENSES |
|
$ |
3,472 |
|
|
|
|
|
|
| |||
|
20. |
TRAVEL |
|
|
|
|
|
|
|
|
| ||||
|
21. |
ENTERTAINMENT |
|
|
|
|
|
|
|
|
| ||||
|
22. |
REPAIRS & MAINTENANCE |
|
$ |
1,384 |
|
|
|
|
|
|
| |||
|
23. |
SUPPLIES |
|
|
|
|
|
|
|
|
| ||||
|
24. |
ADVERTISING |
|
|
|
|
|
|
|
|
| ||||
|
25. |
OTHER (ATTACH LIST)MOR-3a |
|
|
|
$ |
15,038 |
|
|
|
|
| |||
|
26. |
TOTAL OPERATING DISBURSEMENTS |
|
$ |
8,650 |
|
$ |
50,408 |
|
$ |
0 |
|
$ |
0 |
|
|
REORGANIZATION EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
27. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
28. |
U.S. TRUSTEE FEES |
|
|
|
|
|
|
|
|
| ||||
|
29. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
30. |
TOTAL REORGANIZATION EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
31. |
TOTAL DISBURSEMENTS |
|
$ |
8,650 |
|
$ |
50,408 |
|
$ |
0 |
|
$ |
0 |
|
|
32. |
NET CASH FLOW |
|
$ |
37,012 |
|
$ |
(2,816 |
) |
$ |
0 |
|
$ |
0 |
|
|
33. |
CASH - END OF MONTH (1) |
|
$ |
37,012 |
|
$ |
34,197 |
|
$ |
0 |
|
$ |
0 |
|
(1) Exclusive of cash sweep from zero balance accounts to concentration account at Cano Petroleum, Inc.
(2) Includes Utility Deposits paid of $14,422
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Square One Energy, Inc. |
ACCRUAL BASIS-4 |
|
|
|
|
CASE NUMBER: 12-31552-bjh-11 |
|
|
|
|
SCHEDULE |
|
MONTH |
|
MONTH |
|
MONTH |
| |||||
|
ACCOUNTS RECEIVABLE AGING |
|
AMOUNT |
|
03/31/12 |
|
April 2012 |
|
|
| |||||
|
1. |
0-30 |
|
$ |
49,000 |
|
$ |
43,000 |
|
$ |
41,000 |
|
|
| |
|
2. |
31-60 |
|
|
|
|
|
|
|
|
| ||||
|
3. |
61-90 |
|
|
|
|
|
|
|
|
| ||||
|
4. |
91+ |
|
|
|
|
|
|
|
|
| ||||
|
5. |
TOTAL ACCOUNTS RECEIVABLE |
|
$ |
49,000 |
|
$ |
43,000 |
|
$ |
41,000 |
|
$ |
0 |
|
|
6. |
AMOUNT CONSIDERED UNCOLLECTIBLE |
|
|
|
|
|
|
|
|
| ||||
|
7. |
ACCOUNTS RECEIVABLE (NET) |
|
$ |
49,000 |
|
$ |
43,000 |
|
$ |
41,000 |
|
$ |
0 |
|
|
AGING OF POSTPETITION TAXES AND PAYABLES (1) |
MONTH: |
April 2012 |
|
|
|
0-30 |
|
31-60 |
|
61-90 |
|
91+ |
|
|
| ||||||
|
TAXES PAYABLE |
|
DAYS |
|
DAYS |
|
DAYS |
|
DAYS |
|
TOTAL |
| ||||||
|
1. |
FEDERAL |
|
|
|
|
|
|
|
|
|
|
| |||||
|
2. |
STATE |
|
|
|
|
|
|
|
|
|
|
| |||||
|
3. |
LOCAL |
|
|
|
|
|
|
|
|
|
|
| |||||
|
4. |
OTHER (ATTACH LIST) |
|
$ |
1,500 |
|
|
|
|
|
|
|
$ |
1,500 |
| |||
|
5. |
TOTAL TAXES PAYABLE |
|
$ |
1,500 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
1,500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
6. |
ACCOUNTS PAYABLE |
|
$ |
46,269 |
|
|
|
|
|
|
|
|
| ||||
|
STATUS OF POSTPETITION TAXES (1) |
MONTH: |
April 2012 |
|
|
|
BEGINNING |
|
AMOUNT |
|
|
|
ENDING |
| |||||
|
|
|
TAX |
|
WITHHELD AND/ |
|
AMOUNT |
|
TAX |
| |||||
|
|
|
LIABILITY* |
|
OR ACCRUED |
|
PAID |
|
LIABILITY |
| |||||
|
FEDERAL |
|
|
|
|
|
|
|
|
| |||||
|
1. |
WITHHOLDING** |
|
|
|
|
|
|
|
|
| ||||
|
2. |
FICA-EMPLOYEE** |
|
|
|
|
|
|
|
|
| ||||
|
3. |
FICA-EMPLOYER** |
|
|
|
|
|
|
|
|
| ||||
|
4. |
UNEMPLOYMENT |
|
|
|
|
|
|
|
|
| ||||
|
5. |
INCOME |
|
|
|
|
|
|
|
|
| ||||
|
6. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
7. |
TOTAL FEDERAL TAXES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
STATE AND LOCAL |
|
|
|
|
|
|
|
|
| |||||
|
8. |
WITHHOLDING |
|
|
|
|
|
|
|
|
| ||||
|
9. |
SALES |
|
|
|
|
|
|
|
|
| ||||
|
10. |
EXCISE |
|
|
|
|
|
|
|
|
| ||||
|
11. |
UNEMPLOYMENT |
|
|
|
|
|
|
|
|
| ||||
|
12. |
REAL PROPERTY |
|
|
|
|
|
|
|
|
| ||||
|
13. |
PERSONAL PROPERTY |
|
|
|
|
|
|
|
|
| ||||
|
14. |
OTHER (ATTACH LIST) MOR-4a |
|
$ |
1,500 |
|
|
|
$ |
2,188 |
|
|
| ||
|
15. |
TOTAL STATE & LOCAL |
|
$ |
1,500 |
|
$ |
0 |
|
$ |
2,188 |
|
$ |
0 |
|
|
16. |
TOTAL TAXES |
|
$ |
1,500 |
|
$ |
0 |
|
$ |
2,188 |
|
$ |
0 |
|
* The beginning tax liability should represent the liability from the prior month or, if this is the first operating report, the amount should be zero.
** Attach photocopies of IRS Form 6123 or your FTD coupon and payment receipt to verify payment or deposit.
(1) Only taxes paid directly by Cano Petroleum, Inc. and its subsidiaries; taxes paid on their behalf by others (e.g. first purchasers and PEO — Resourcing Edge) are not shown
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Square One Energy, Inc. |
ACCRUAL BASIS-5 |
|
|
|
|
CASE NUMBER: 12-31552-bjh-11 |
|
The debtor in possession must complete the reconciliation below for each bank account, including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc. Accounts with restricted funds should be identified by placing an asterisk next to the account number. Attach additional sheets if necessary.
|
|
MONTH: |
April 2012 |
BANK RECONCILIATIONS
|
|
|
Account #1 |
|
Account #2 |
|
Account #3 |
|
|
| |||||
|
A. BANK: |
|
Bank of Texas N.A |
|
|
|
|
|
|
| |||||
|
B. ACCOUNT NUMBER: |
|
31013023 |
|
|
|
|
|
|
| |||||
|
C. PURPOSE (TYPE): |
|
Checking |
|
|
|
|
|
TOTAL |
| |||||
|
1. |
BALANCE PER BANK STATEMENT |
|
$ |
12,624 |
|
|
|
|
|
$ |
12,624 |
| ||
|
2. |
ADD: TOTAL DEPOSITS NOT CREDITED |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
3. |
SUBTRACT: OUTSTANDING CHECKS |
|
$ |
7,561 |
|
|
|
|
|
$ |
7,561 |
| ||
|
4. |
OTHER RECONCILING ITEMS |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
5. |
MONTH END BALANCE PER BOOKS (1) |
|
$ |
5,063 |
|
$ |
0 |
|
$ |
0 |
|
$ |
5,063 |
|
|
6. |
NUMBER OF LAST CHECK WRITTEN |
|
1004000816 |
|
|
|
|
|
|
| ||||
INVESTMENT ACCOUNTS
|
|
|
DATE OF |
|
TYPE OF |
|
PURCHASE |
|
CURRENT |
| |||
|
BANK, ACCOUNT NAME & NUMBER |
|
PURCHASE |
|
INSTRUMENT |
|
PRICE |
|
VALUE |
| |||
|
7. |
|
|
|
|
|
|
|
|
|
| ||
|
8. |
|
|
|
|
|
|
|
|
|
| ||
|
9. |
|
|
|
|
|
|
|
|
|
| ||
|
10. |
|
|
|
|
|
|
|
|
|
| ||
|
11. |
TOTAL INVESTMENTS |
|
|
|
|
|
$ |
0 |
|
$ |
0 |
|
CASH
|
12. |
CURRENCY ON HAND |
|
$ |
0 |
|
|
|
|
|
|
| |
|
13. |
TOTAL CASH — END OF MONTH |
|
$ |
5,063 |
|
(1) Includes effect of cash sweeps from zero balance accounts to concentration account at Cano Petroleum, Inc.
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Square One Energy, Inc. |
ACCRUAL BASIS-6 |
|
|
|
|
CASE NUMBER: 12-31552-bjh-11 |
|
|
|
MONTH: April 2012 |
PAYMENTS TO INSIDERS AND PROFESSIONALS
OF THE TOTAL DISBURSEMENTS SHOWN FOR THE MONTH, LIST THE AMOUNT PAID TO INSIDERS (AS DEFINED IN SECTION 101 (31) (A)-(F) OF THE U.S. BANKRUPTCY CODE) AND TO PROFESSIONALS. ALSO, FOR PAYMENTS TO INSIDERS, IDENTIFY THE TYPE OF COMPENSATION PAID (e.g. SALARY, BONUS, COMMISSIONS, INSURANCE, HOUSING ALLOWANCE, TRAVEL, CAR ALLOWANCE, ETC.). ATTACH ADDITIONAL SHEETS IF NECESSARY.
|
INSIDERS |
|
|
|
TYPE OF |
|
AMOUNT |
|
TOTAL PAID |
| |||
|
NAME |
|
PAYMENT |
|
PAID |
|
TO DATE |
| |||
|
1. |
|
|
|
|
|
|
|
| ||
|
2. |
|
|
|
|
|
|
|
| ||
|
3. |
|
|
|
|
|
|
|
| ||
|
4. |
|
|
|
|
|
|
|
| ||
|
5. |
|
|
|
|
|
|
|
| ||
|
6. |
TOTAL PAYMENTS TO INSIDERS |
|
$ |
0 |
|
$ |
0 |
| ||
|
PROFESSIONALS |
|
|
|
DATE OF COURT |
|
|
|
|
|
|
|
TOTAL |
| |||||
|
|
|
ORDER AUTHORIZING |
|
AMOUNT |
|
AMOUNT |
|
TOTAL PAID |
|
INCURRED |
| |||||
|
NAME |
|
PAYMENT |
|
APPROVED |
|
PAID |
|
TO DATE |
|
& UNPAID * |
| |||||
|
1. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
2. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
3. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
4. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
5. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
6. |
TOTAL PAYMENTS TO PROFESSIONALS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| ||
* INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
|
|
|
SCHEDULED |
|
AMOUNTS |
|
|
| ||||
|
|
|
MONTHLY |
|
PAID |
|
TOTAL |
| ||||
|
|
|
PAYMENTS |
|
DURING |
|
UNPAID |
| ||||
|
NAME OF CREDITOR |
|
DUE |
|
MONTH |
|
POSTPETITION |
| ||||
|
1. |
|
|
|
|
|
|
|
| |||
|
2. |
|
|
|
|
|
|
|
| |||
|
3. |
|
|
|
|
|
|
|
| |||
|
4. |
|
|
|
|
|
|
|
| |||
|
5. |
|
|
|
|
|
|
|
| |||
|
6. |
TOTAL |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Square One Energy, Inc. |
ACCRUAL BASIS-7 |
|
|
|
|
CASE NUMBER: 12-31552-bjh-11 |
|
|
|
MONTH: |
April 2012 |
QUESTIONNAIRE
|
|
|
YES |
|
NO | |
|
1. |
HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? |
|
|
|
X |
|
2. |
HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? |
|
|
|
X |
|
3. |
ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? |
|
|
|
X |
|
4. |
HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? |
|
X |
|
|
|
5. |
HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? |
|
|
|
X |
|
6. |
ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? |
|
|
|
X |
|
7. |
ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? |
|
|
|
X |
|
8. |
ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? |
|
|
|
X |
|
9. |
ARE ANY OTHER POSTPETITION TAXES PAST DUE? |
|
|
|
X |
|
10. |
ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? |
|
|
|
X |
|
11. |
HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? |
|
X |
|
|
|
12. |
ARE ANY WAGE PAYMENTS PAST DUE? |
|
|
|
X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “YES,” PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
Royalties and severance taxes paid in accordance with court order
INSURANCE
|
|
|
YES |
|
NO | |
|
1. |
ARE WORKER’S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? |
|
X |
|
|
|
2. |
ARE ALL PREMIUM PAYMENTS PAID CURRENT? |
|
X |
|
|
|
3. |
PLEASE ITEMIZE POLICIES BELOW. |
|
|
|
|
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “NO,” OR IF ANY POLICIES HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
|
INSTALLMENT PAYMENTS |
|
TYPE OF |
|
|
|
|
|
PAYMENT AMOUNT |
|
POLICY |
|
CARRIER |
|
PERIOD COVERED |
|
& FREQUENCY |
|
General Liability Insurance |
|
ACE American Insurance |
|
8/16/2011 to 8/16/2012 |
|
$39,452.99 paid monthly |
|
Business Auto |
|
ACE American Insurance |
|
8/16/2011 to 8/16/2012 |
|
to Premium Assignment |
|
Umbrella |
|
ACE Property & Casualty |
|
8/16/2011 to 8/16/2012 |
|
Corporation. |
|
Umbrella Extension |
|
Gotham Insurance Company |
|
8/16/2011 to 8/16/2012 |
|
1 payment remains at |
|
Marine Insurance |
|
AGCS Marine Insurance Co. |
|
8/16/2011 to 8/16/2012 |
|
4/30/2012 |
|
COW |
|
Lloyds of London |
|
8/16/2011 to 8/16/2012 |
|
|
MOR-1 Exhibit A
|
1160000000 Intercompany Receivable/Payable Account |
|
$ |
(41,869,457 |
) |
|
1160001001 Intercompany Receivable/Payable CC 1001 |
|
$ |
(1,750,599 |
) |
|
1160001003 Intercompany Receivable/Payable CC 1003 |
|
$ |
(898 |
) |
|
1160001005 Intercompany Receivable/Payable CC 1005 |
|
$ |
17,152 |
|
|
1160001010 Intercompany Receivable/Payable CC 1010 |
|
$ |
505 |
|
|
|
|
|
| |
|
Total |
|
$ |
(43,603,297 |
) |
MOR-1 Exhibit B
|
3800000000 Asset Retirement Obligation Short Term |
|
$ |
(9,808 |
) |
|
4800000000 Asset Retirement Obligation Long Term |
|
$ |
(1,420,233 |
) |
|
|
|
|
| |
|
Total |
|
$ |
(1,430,041 |
) |
MOR-1c
|
Railroad Commission of Texas Blanket Bond |
|
250,000.00 |
|
|
License and Performance Bond |
|
20,000.00 |
|
|
|
|
270,000.00 |
|
MOR-3a
|
LOE TOTAL |
|
15,037.91 |
|
MOR 4a
|
March Estimated Severance taxes |
|
1,000.00 |
|
|
April Estimated Severance taxes |
|
500.00 |
|
|
Total Taxes Due |
|
1,500.00 |
|
Exhibit 99.5
|
|
Monthly Operating Report | |
|
|
| |
|
CASE NAME: Tri-Flow, Inc. |
ACCRUAL BASIS | |
|
|
| |
|
CASE NUMBER: 12-31553-bjh-11 |
| |
|
|
| |
|
JUDGE: |
Barbara J. Houser |
|
UNITED STATES BANKRUPTCY COURT
NORTHERN AND EASTERN
DISTRICT OF
TEXAS
DIVISION 6
MONTHLY OPERATING REPORT
MONTH ENDING: April 30th, 2012
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY): IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
|
RESPONSIBLE PARTY: |
|
|
|
|
|
|
|
/s/ John H. Homier |
|
CFO |
|
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY |
|
TITLE |
|
|
|
|
|
John H. Homier |
|
5/21/2012 |
|
PRINTED NAME OF RESPONSIBLE PARTY |
|
DATE |
|
|
|
|
|
|
|
|
|
PREPARER: |
|
|
|
|
|
|
|
/s/ Adrian Lamberti |
|
Controller |
|
ORIGINAL SIGNATURE OF PREPARER |
|
TITLE |
|
|
|
|
|
Adrian Lamberti |
|
5/21/2012 |
|
PRINTED NAME OF PREPARER |
|
DATE |
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Tri-Flow, Inc. |
ACCRUAL BASIS-1 |
|
|
|
|
CASE NUMBER: 12-31553-bjh-11 |
|
|
|
|
|
COMPARATIVE BALANCE SHEET |
|
|
|
|
SCHEDULE |
|
MONTH |
|
MONTH |
|
MONTH |
| |||||
|
|
|
AMOUNT |
|
3/31/2012 |
|
April 2012 |
|
|
| |||||
|
ASSETS |
|
|
|
|
|
|
|
|
| |||||
|
1. |
UNRESTRICTED CASH |
|
|
|
|
|
|
|
|
| ||||
|
2. |
RESTRICTED CASH |
|
|
|
|
|
|
|
|
| ||||
|
3. |
TOTAL CASH |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
4. |
ACCOUNTS RECEIVABLE (NET) |
|
|
|
|
|
|
|
|
| ||||
|
5. |
INVENTORY |
|
|
|
|
|
|
|
|
| ||||
|
6. |
NOTES RECEIVABLE |
|
|
|
|
|
|
|
|
| ||||
|
7. |
PREPAID EXPENSES |
|
|
|
|
|
|
|
|
| ||||
|
8. |
OTHER (1) |
|
$ |
250,000 |
|
|
|
|
|
|
| |||
|
9. |
TOTAL CURRENT ASSETS |
|
$ |
250,000 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
10. |
PROPERTY, PLANT & EQUIPMENT |
|
|
|
|
|
|
|
|
| ||||
|
11. |
LESS: ACCUMULATED DEPRECIATION / DEPLETION |
|
|
|
|
|
|
|
|
| ||||
|
12. |
NET PROPERTY, PLANT & EQUIPMENT |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
13. |
DUE FROM INSIDERS |
|
|
|
|
|
|
|
|
| ||||
|
14. |
OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
15. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
16. |
TOTAL ASSETS |
|
$ |
250,000 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
POSTPETITION LIABILITIES |
|
|
|
|
|
|
|
|
| |||||
|
17. |
ACCOUNTS PAYABLE |
|
|
|
|
|
|
|
|
| ||||
|
18. |
TAXES PAYABLE |
|
|
|
|
|
|
|
|
| ||||
|
19. |
NOTES PAYABLE |
|
|
|
|
|
|
|
|
| ||||
|
20. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
21. |
SECURED DEBT |
|
|
|
|
|
|
|
|
| ||||
|
22. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
23. |
TOTAL POSTPETITION LIABILITIES |
|
|
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| |
|
PREPETITION LIABILITIES |
|
|
|
|
|
|
|
|
| |||||
|
24. |
SECURED DEBT |
|
|
|
|
|
|
|
|
| ||||
|
25. |
PRIORITY DEBT |
|
|
|
|
|
|
|
|
| ||||
|
26. |
UNSECURED DEBT |
|
|
|
|
|
|
|
|
| ||||
|
27. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
28. |
TOTAL PREPETITION LIABILITIES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
29. |
TOTAL LIABILITIES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
EQUITY |
|
|
|
|
|
|
|
|
| |||||
|
30. |
PREPETITION OWNERS’ EQUITY |
|
|
|
|
|
|
|
|
| ||||
|
31. |
POSTPETITION CUMULATIVE PROFIT OR (LOSS) |
|
|
|
|
|
|
|
|
| ||||
|
32. |
DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) |
|
|
|
|
|
|
|
|
| ||||
|
33. |
TOTAL EQUITY |
|
$ |
250,000 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
34. |
TOTAL LIABILITIES & OWNERS’ EQUITY |
|
$ |
250,000 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
|
(1) Consolidated retainer for Cano Petroleum, Inc. and its related debtor entities |
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Tri-Flow, Inc. |
ACCRUAL BASIS-2 |
|
|
|
|
CASE NUMBER: 12-31553-bjh-11 |
|
INCOME STATEMENT
|
|
|
MONTH |
|
MONTH |
|
MONTH |
|
MONTH |
| |||||
|
|
|
3/8/2012 thru 3/31/2012 |
|
April 2012 |
|
|
|
|
| |||||
|
REVENUES |
|
|
|
|
|
|
|
|
| |||||
|
1. |
GROSS REVENUES |
|
|
|
|
|
|
|
|
| ||||
|
2. |
LESS: RETURNS & DISCOUNTS |
|
|
|
|
|
|
|
|
| ||||
|
3. |
NET REVENUE |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
COST OF GOODS SOLD |
|
|
|
|
|
|
|
|
| |||||
|
4. |
MATERIAL |
|
|
|
|
|
|
|
|
| ||||
|
5. |
DIRECT LABOR |
|
|
|
|
|
|
|
|
| ||||
|
6. |
DIRECT OVERHEAD |
|
|
|
|
|
|
|
|
| ||||
|
7. |
TOTAL COST OF GOODS SOLD |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
8. |
GROSS PROFIT |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
OPERATING EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
9. |
OFFICER / INSIDER COMPENSATION |
|
|
|
|
|
|
|
|
| ||||
|
10. |
SELLING & MARKETING |
|
|
|
|
|
|
|
|
| ||||
|
11. |
GENERAL & ADMINISTRATIVE |
|
|
|
|
|
|
|
|
| ||||
|
12. |
RENT & LEASE |
|
|
|
|
|
|
|
|
| ||||
|
13. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
14. |
TOTAL OPERATING EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
15. |
INCOME BEFORE NON-OPERATING INCOME & EXPENSE |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
OTHER INCOME & EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
16. |
NON-OPERATING INCOME (ATT. LIST) |
|
|
|
|
|
|
|
|
| ||||
|
17. |
NON-OPERATING EXPENSE (ATT. LIST) |
|
|
|
|
|
|
|
|
| ||||
|
18. |
INTEREST EXPENSE |
|
|
|
|
|
|
|
|
| ||||
|
19. |
DEPRECIATION / DEPLETION |
|
|
|
|
|
|
|
|
| ||||
|
20. |
AMORTIZATION |
|
|
|
|
|
|
|
|
| ||||
|
21. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
22. |
NET OTHER INCOME & EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
REORGANIZATION EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
23. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
24. |
U.S. TRUSTEE FEES (1) |
|
|
|
|
|
|
|
|
| ||||
|
25. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
26. |
TOTAL REORGANIZATION EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
27. |
INCOME TAX |
|
|
|
|
|
|
|
|
| ||||
|
28. |
NET PROFIT (LOSS) |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
Note 1 - This fee is being paid by Cano Petroleum, Inc. as this company has no bank account or accounting system to record and make payments. |
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Tri-Flow, Inc. |
ACCRUAL BASIS-3 |
|
|
|
|
CASE NUMBER: 12-31553-bjh-11 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
MONTH |
|
MONTH |
|
MONTH |
|
QUARTER |
| ||||||
|
|
|
3/8/2012 to 3/31/2012 |
|
April 2012 |
|
|
|
TOTAL |
| ||||||
|
CASH RECEIPTS AND DISBURSEMENTS |
|
|
|
|
|
|
|
|
| ||||||
|
1. |
CASH - BEGINNING OF MONTH |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
| ||
|
RECEIPTS FROM OPERATIONS |
|
|
|
|
|
|
|
|
| ||||||
|
2. |
CASH SALES |
|
|
|
|
|
|
|
|
| |||||
|
COLLECTION OF ACCOUNTS RECEIVABLE |
|
|
|
|
|
|
|
|
| ||||||
|
3. |
PREPETITION |
|
|
|
|
|
|
|
|
| |||||
|
4. |
POSTPETITION |
|
|
|
|
|
|
|
|
| |||||
|
5. |
TOTAL OPERATING RECEIPTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| |
|
NON-OPERATING RECEIPTS |
|
|
|
|
|
|
|
|
| ||||||
|
6. |
LOANS & ADVANCES (ATTACH LIST) |
|
|
|
|
|
|
|
|
| |||||
|
7. |
SALE OF ASSETS |
|
|
|
|
|
|
|
|
| |||||
|
8. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| |||||
|
9. |
TOTAL NON-OPERATING RECEIPTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| |
|
10. |
TOTAL RECEIPTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| |
|
11. |
TOTAL CASH AVAILABLE |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| |
|
OPERATING DISBURSEMENTS |
|
|
|
|
|
|
|
|
| ||||||
|
12. |
NET PAYROLL |
|
|
|
|
|
|
|
|
| |||||
|
13. |
PAYROLL TAXES PAID |
|
|
|
|
|
|
|
|
| |||||
|
14. |
SALES, USE & OTHER TAXES PAID |
|
|
|
|
|
|
|
|
| |||||
|
15. |
SECURED / RENTAL / LEASES |
|
|
|
|
|
|
|
|
| |||||
|
16. |
UTILITIES |
|
|
|
|
|
|
|
|
| |||||
|
17. |
INSURANCE |
|
|
|
|
|
|
|
|
| |||||
|
18. |
INVENTORY PURCHASES |
|
|
|
|
|
|
|
|
| |||||
|
19. |
VEHICLE EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
20. |
TRAVEL |
|
|
|
|
|
|
|
|
| |||||
|
21. |
ENTERTAINMENT |
|
|
|
|
|
|
|
|
| |||||
|
22. |
REPAIRS & MAINTENANCE |
|
|
|
|
|
|
|
|
| |||||
|
23. |
SUPPLIES |
|
|
|
|
|
|
|
|
| |||||
|
24. |
ADVERTISING |
|
|
|
|
|
|
|
|
| |||||
|
25. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| |||||
|
26. |
TOTAL OPERATING DISBURSEMENTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| |
|
REORGANIZATION EXPENSES |
|
|
|
|
|
|
|
|
| ||||||
|
27. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| |||||
|
28. |
U.S. TRUSTEE FEES |
|
|
|
|
|
|
|
|
| |||||
|
29. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| |||||
|
30. |
TOTAL REORGANIZATION EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| |
|
31. |
TOTAL DISBURSEMENTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| |
|
32. |
NET CASH FLOW |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| |
|
33. |
CASH - END OF MONTH |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| |
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Tri-Flow, Inc. |
ACCRUAL BASIS-4 |
|
|
|
|
CASE NUMBER: 12-31553-bjh-11 |
|
|
|
|
SCHEDULE |
|
MONTH |
|
MONTH |
|
MONTH |
| |||||
|
ACCOUNTS RECEIVABLE AGING |
|
AMOUNT |
|
3/8/2012 to 3/31/2012 |
|
April 2012 |
|
|
| |||||
|
1. |
0-30 |
|
|
|
|
|
|
|
|
| ||||
|
2. |
31-60 |
|
|
|
|
|
|
|
|
| ||||
|
3. |
61-90 |
|
|
|
|
|
|
|
|
| ||||
|
4. |
91+ |
|
|
|
|
|
|
|
|
| ||||
|
5. |
TOTAL ACCOUNTS RECEIVABLE |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
6. |
AMOUNT CONSIDERED UNCOLLECTIBLE |
|
|
|
|
|
|
|
|
| ||||
|
7. |
ACCOUNTS RECEIVABLE (NET) |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
AGING OF POSTPETITION TAXES AND PAYABLES |
MONTH: |
April 2012 |
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
|
|
|
0-30 |
|
31-60 |
|
61-90 |
|
91+ |
|
|
| |||||||||||||||
|
TAXES PAYABLE |
|
DAYS |
|
DAYS |
|
DAYS |
|
DAYS |
|
TOTAL |
| |||||||||||||||
|
1. |
FEDERAL |
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||
|
2. |
STATE |
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||
|
3. |
LOCAL |
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||
|
4. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||
|
5. |
TOTAL TAXES PAYABLE |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| |||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||
|
6. |
ACCOUNTS PAYABLE |
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||
|
STATUS OF POSTPETITION TAXES |
MONTH: |
April 2012 |
|
|
|
|
BEGINNING |
|
AMOUNT |
|
|
|
ENDING |
| ||||
|
|
|
|
TAX |
|
WITHHELD AND/ |
|
AMOUNT |
|
TAX |
| ||||
|
|
|
|
LIABILITY* |
|
0R ACCRUED |
|
PAID |
|
LIABILITY |
| ||||
|
FEDERAL |
|
|
|
|
|
|
|
|
| |||||
|
1. |
WITHHOLDING** |
|
|
|
|
|
|
|
|
| ||||
|
2. |
FICA-EMPLOYEE** |
|
|
|
|
|
|
|
|
| ||||
|
3. |
FICA-EMPLOYER** |
|
|
|
|
|
|
|
|
| ||||
|
4. |
UNEMPLOYMENT |
|
|
|
|
|
|
|
|
| ||||
|
5. |
INCOME |
|
|
|
|
|
|
|
|
| ||||
|
6. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
7. |
TOTAL FEDERAL TAXES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
STATE AND LOCAL |
|
|
|
|
|
|
|
|
| |||||
|
8. |
WITHHOLDING |
|
|
|
|
|
|
|
|
| ||||
|
9. |
SALES |
|
|
|
|
|
|
|
|
| ||||
|
10. |
EXCISE |
|
|
|
|
|
|
|
|
| ||||
|
11. |
UNEMPLOYMENT |
|
|
|
|
|
|
|
|
| ||||
|
12. |
REAL PROPERTY |
|
|
|
|
|
|
|
|
| ||||
|
13. |
PERSONAL PROPERTY |
|
|
|
|
|
|
|
|
| ||||
|
14. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
15. |
TOTAL STATE & LOCAL |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
16. |
TOTAL TAXES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
* |
The beginning tax liability should represent the liability from the prior month or, if this is the first operating report, the amount should be zero. |
|
** |
Attach photocopies of IRS Form 6123 or your FTD coupon and payment receipt to verify payment or deposit. |
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Tri-Flow, Inc. |
ACCRUAL BASIS-5 |
|
|
|
|
CASE NUMBER: 12-31553-bjh-11 |
|
The debtor in possession must complete the reconciliation below for each bank account, including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc. Accounts with restricted funds should be identified by placing an asterisk next to the account number. Attach additional sheets if necessary.
|
|
MONTH: |
April 2012 |
BANK RECONCILIATIONS
|
|
|
Account #1 |
|
Account #2 |
|
Account #3 |
|
|
| |||||
|
A. BANK: |
|
|
|
|
|
|
|
|
| |||||
|
B. ACCOUNT NUMBER: |
|
|
|
|
|
|
|
|
| |||||
|
C. PURPOSE (TYPE): |
|
|
|
|
|
|
|
TOTAL |
| |||||
|
1. |
BALANCE PER BANK STATEMENT |
|
|
|
|
|
|
|
|
| ||||
|
2. |
ADD: TOTAL DEPOSITS NOT CREDITED |
|
|
|
|
|
|
|
|
| ||||
|
3. |
SUBTRACT: OUTSTANDING CHECKS |
|
|
|
|
|
|
|
|
| ||||
|
4. |
OTHER RECONCILING ITEMS |
|
|
|
|
|
|
|
|
| ||||
|
5. |
MONTH END BALANCE PER BOOKS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
6. |
NUMBER OF LAST CHECK WRITTEN |
|
|
|
|
|
|
|
|
| ||||
INVESTMENT ACCOUNTS
|
|
|
DATE OF |
|
TYPE OF |
|
PURCHASE |
|
CURRENT |
| |||
|
BANK, ACCOUNT NAME & NUMBER |
|
PURCHASE |
|
INSTRUMENT |
|
PRICE |
|
VALUE |
| |||
|
7. |
|
|
|
|
|
|
|
|
|
| ||
|
8. |
|
|
|
|
|
|
|
|
|
| ||
|
9. |
|
|
|
|
|
|
|
|
|
| ||
|
10. |
|
|
|
|
|
|
|
|
|
| ||
|
11. |
TOTAL INVESTMENTS |
|
|
|
|
|
$ |
0 |
|
$ |
0 |
|
CASH
|
12. |
CURRENCY ON HAND |
|
|
|
|
|
|
|
$ |
0 |
|
|
13. |
TOTAL CASH – END OF MONTH |
|
|
|
|
|
|
|
$ |
0 |
|
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Tri-Flow, Inc. |
ACCRUAL BASIS-6 |
|
|
|
|
CASE NUMBER: 12-31553-bjh-11 |
|
|
|
MONTH: April 2012 |
PAYMENTS TO INSIDERS AND PROFESSIONALS
OF THE TOTAL DISBURSEMENTS SHOWN FOR THE MONTH, LIST THE AMOUNT PAID TO INSIDERS (AS DEFINED IN SECTION 101 (31) (A)-(F) OF THE U.S. BANKRUPTCY CODE) AND TO PROFESSIONALS. ALSO, FOR PAYMENTS TO INSIDERS, IDENTIFY THE TYPE OF COMPENSATION PAID (e.g. SALARY, BONUS, COMMISSIONS, INSURANCE, HOUSING ALLOWANCE, TRAVEL, CAR ALLOWANCE, ETC.). ATTACH ADDITIONAL SHEETS IF NECESSARY.
|
INSIDERS | ||||||||||
|
| ||||||||||
|
|
|
TYPE OF |
|
AMOUNT |
|
TOTAL PAID |
| |||
|
NAME |
|
PAYMENT |
|
PAID |
|
TO DATE |
| |||
|
1. |
|
|
|
|
|
|
|
| ||
|
2. |
|
|
|
|
|
|
|
| ||
|
3. |
|
|
|
|
|
|
|
| ||
|
4. |
|
|
|
|
|
|
|
| ||
|
5. |
|
|
|
|
|
|
|
| ||
|
6. |
TOTAL PAYMENTS TO INSIDERS |
|
|
|
$ |
0 |
|
$ |
0 |
|
PROFESSIONALS
|
|
|
|
DATE OF COURT |
|
|
|
|
|
|
|
TOTAL |
| |||||
|
|
|
|
ORDER AUTHORIZING |
|
AMOUNT |
|
AMOUNT |
|
TOTAL PAID |
|
INCURRED |
| |||||
|
NAME |
|
PAYMENT |
|
APPROVED |
|
PAID |
|
TO DATE |
|
& UNPAID * |
| ||||||
|
1. |
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
2. |
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
3. |
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
4. |
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
5. |
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
6. |
TOTAL PAYMENTS TO PROFESSIONALS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| |||
* INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
|
|
|
|
SCHEDULED |
|
AMOUNTS |
|
|
| |||
|
|
|
|
MONTHLY |
|
PAID |
|
TOTAL |
| |||
|
|
|
|
PAYMENTS |
|
DURING |
|
UNPAID |
| |||
|
NAME OF CREDITOR |
|
DUE |
|
MONTH |
|
POSTPETITION |
| ||||
|
1. |
|
|
|
|
|
|
|
| |||
|
2. |
|
|
|
|
|
|
|
| |||
|
3. |
|
|
|
|
|
|
|
| |||
|
4. |
|
|
|
|
|
|
|
| |||
|
5. |
|
|
|
|
|
|
|
| |||
|
6. |
TOTAL |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Tri-Flow, Inc. |
ACCRUAL BASIS-7 |
|
|
|
|
CASE NUMBER: 12-31553-bjh-11 |
|
|
|
|
|
MONTH: |
April 2012 |
QUESTIONNAIRE
|
|
|
YES |
|
NO |
|
1. |
HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? |
|
|
X |
|
2. |
HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? |
|
|
X |
|
3. |
ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? |
|
|
X |
|
4. |
HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? |
|
|
X |
|
5. |
HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? |
|
|
X |
|
6. |
ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? |
|
|
X |
|
7. |
ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? |
|
|
X |
|
8. |
ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? |
|
|
X |
|
9. |
ARE ANY OTHER POSTPETITION TAXES PAST DUE? |
|
|
X |
|
10. |
ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? |
|
|
X |
|
11. |
HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? |
|
|
X |
|
12. |
ARE ANY WAGE PAYMENTS PAST DUE? |
|
|
X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “YES,” PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSURANCE
|
|
|
YES |
|
NO |
|
1. |
ARE WORKER’S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? |
|
|
X |
|
2. |
ARE ALL PREMIUM PAYMENTS PAID CURRENT? |
|
|
X |
|
3. |
PLEASE ITEMIZE POLICIES BELOW. |
|
|
|
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “NO,” OR IF ANY POLICIES HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
This is a shell company with no assets, liabilities, operations, or employees
INSTALLMENT PAYMENTS
|
TYPE OF |
|
|
|
|
|
PAYMENT AMOUNT |
|
POLICY |
|
CARRIER |
|
PERIOD COVERED |
|
& FREQUENCY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exhibit 99.6
|
|
|
Monthly Operating Report | |
|
|
|
| |
|
CASE NAME: W.O. Energy of Nevada, Inc. |
|
ACCRUAL BASIS | |
|
|
|
| |
|
CASE NUMBER: 12-31554-bjh-11 |
|
| |
|
|
|
| |
|
JUDGE: |
Barbara J. Houser |
|
|
UNITED STATES BANKRUPTCY COURT
NORTHERN AND EASTERN
DISTRICT OF
TEXAS
DIVISION 6
MONTHLY OPERATING REPORT
MONTH ENDING: April 30th, 2012
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY): IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
|
RESPONSIBLE PARTY: |
| |
|
|
| |
|
/s/ John H. Homier |
|
CFO |
|
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY |
TITLE | |
|
|
| |
|
John H. Homier |
|
5/21/2012 |
|
PRINTED NAME OF RESPONSIBLE PARTY |
DATE | |
|
|
| |
|
|
| |
|
PREPARER: |
| |
|
|
| |
|
/s/ Adrian Lamberti |
|
Controller |
|
ORIGINAL SIGNATURE OF PREPARER |
TITLE | |
|
|
| |
|
Adrian Lamberti |
|
5/21/2012 |
|
PRINTED NAME OF PREPARER |
DATE | |
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: W.O. Energy of Nevada, Inc. |
ACCRUAL BASIS-1 |
|
|
|
|
CASE NUMBER: 12-31554-bjh-11 |
|
COMPARATIVE BALANCE SHEET
|
|
|
SCHEDULE |
|
MONTH |
|
MONTH |
|
MONTH |
| ||||||
|
|
|
AMOUNT |
|
3/31/2012 |
|
April 2012 |
|
|
| ||||||
|
ASSETS |
|
|
|
|
|
|
|
|
| ||||||
|
1. |
|
UNRESTRICTED CASH |
|
|
|
|
|
|
|
|
| ||||
|
2. |
|
RESTRICTED CASH |
|
|
|
|
|
|
|
|
| ||||
|
3. |
|
TOTAL CASH |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
4. |
|
ACCOUNTS RECEIVABLE (NET) |
|
|
|
|
|
|
|
|
| ||||
|
5. |
|
INVENTORY |
|
|
|
|
|
|
|
|
| ||||
|
6. |
|
NOTES RECEIVABLE |
|
|
|
|
|
|
|
|
| ||||
|
7. |
|
PREPAID EXPENSES |
|
|
|
|
|
|
|
|
| ||||
|
8. |
|
OTHER (1) |
|
$ |
250,000 |
|
|
|
|
|
|
| |||
|
9. |
|
TOTAL CURRENT ASSETS |
|
$ |
250,000 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
10. |
|
PROPERTY, PLANT & EQUIPMENT |
|
|
|
|
|
|
|
|
| ||||
|
11. |
|
LESS: ACCUMULATED DEPRECIATION / DEPLETION |
|
|
|
|
|
|
|
|
| ||||
|
12. |
|
NET PROPERTY, PLANT & EQUIPMENT |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
13. |
|
DUE FROM INSIDERS |
|
|
|
|
|
|
|
|
| ||||
|
14. |
|
OTHER ASSETS — NET OF AMORTIZATION (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
15. |
|
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
16. |
|
TOTAL ASSETS |
|
$ |
250,000 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
POSTPETITION LIABILITIES |
|
|
|
|
|
|
|
|
| ||||||
|
17. |
|
ACCOUNTS PAYABLE |
|
|
|
|
|
|
|
|
| ||||
|
18. |
|
TAXES PAYABLE |
|
|
|
|
|
|
|
|
| ||||
|
19. |
|
NOTES PAYABLE |
|
|
|
|
|
|
|
|
| ||||
|
20. |
|
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
21. |
|
SECURED DEBT |
|
|
|
|
|
|
|
|
| ||||
|
22. |
|
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
23. |
|
TOTAL POSTPETITION LIABILITIES |
|
|
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| |
|
PREPETITION LIABILITIES |
|
|
|
|
|
|
|
|
| ||||||
|
24. |
|
SECURED DEBT (2) |
|
$ |
80,995,000 |
|
|
|
|
|
|
| |||
|
25. |
|
PRIORITY DEBT |
|
|
|
|
|
|
|
|
| ||||
|
26. |
|
UNSECURED DEBT |
|
$ |
950,000 |
|
|
|
|
|
|
| |||
|
27. |
|
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
28. |
|
TOTAL PREPETITION LIABILITIES |
|
$ |
81,945,000 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
29. |
|
TOTAL LIABILITIES |
|
$ |
81,945,000 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
EQUITY |
|
|
|
|
|
|
|
|
| ||||||
|
30. |
|
PREPETITION OWNERS’ EQUITY |
|
|
|
|
|
|
|
|
| ||||
|
31. |
|
POSTPETITION CUMULATIVE PROFIT OR (LOSS) |
|
|
|
|
|
|
|
|
| ||||
|
32. |
|
DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) |
|
|
|
|
|
|
|
|
| ||||
|
33. |
|
TOTAL EQUITY |
|
$ |
(81,695,000 |
) |
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
34. |
|
TOTAL LIABILITIES & OWNERS’ EQUITY |
|
$ |
250,000 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
(1) Consolidated retainer for Cano Petroleum, Inc. and its related debtor entities
(2) For balance sheet purposes, the secured debt for Cano Petroleum, Inc. and its subsidiaries is carried in total by Cano Petroleum, Inc.
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: W.O. Energy of Nevada, Inc. |
ACCRUAL BASIS-2 |
|
|
|
|
CASE NUMBER: 12-31554-bjh-11 |
|
INCOME STATEMENT
|
|
|
|
|
MONTH |
|
MONTH |
|
MONTH |
|
MONTH |
| ||||
|
|
|
|
|
3/8/2012 to 3/31/2012 |
|
April 2012 |
|
|
|
|
| ||||
|
REVENUES |
|
|
|
|
|
|
|
|
| ||||||
|
l. |
|
GROSS REVENUES |
|
|
|
|
|
|
|
|
| ||||
|
2. |
|
LESS: RETURNS & DISCOUNTS |
|
|
|
|
|
|
|
|
| ||||
|
3. |
|
NET REVENUE |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
COST OF GOODS SOLD |
|
|
|
|
|
|
|
|
| ||||||
|
4. |
|
MATERIAL |
|
|
|
|
|
|
|
|
| ||||
|
5. |
|
DIRECT LABOR |
|
|
|
|
|
|
|
|
| ||||
|
6. |
|
DIRECT OVERHEAD |
|
|
|
|
|
|
|
|
| ||||
|
7. |
|
TOTAL COST OF GOODS SOLD |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
8. |
|
GROSS PROFIT |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
OPERATING EXPENSES |
|
|
|
|
|
|
|
|
| ||||||
|
9. |
|
OFFICER / INSIDER COMPENSATION |
|
|
|
|
|
|
|
|
| ||||
|
10. |
|
SELLING & MARKETING |
|
|
|
|
|
|
|
|
| ||||
|
11. |
|
GENERAL & ADMINISTRATIVE |
|
|
|
|
|
|
|
|
| ||||
|
12. |
|
RENT & LEASE |
|
|
|
|
|
|
|
|
| ||||
|
13. |
|
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
14. |
|
TOTAL OPERATING EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
15. |
|
INCOME BEFORE NON-OPERATING INCOME & EXPENSE |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
OTHER INCOME & EXPENSES |
|
|
|
|
|
|
|
|
| ||||||
|
16. |
|
NON-OPERATING INCOME (ATT. LIST) |
|
|
|
|
|
|
|
|
| ||||
|
17. |
|
NON-OPERATING EXPENSE (ATT. LIST) |
|
|
|
|
|
|
|
|
| ||||
|
18. |
|
INTEREST EXPENSE |
|
|
|
|
|
|
|
|
| ||||
|
19. |
|
DEPRECIATION / DEPLETION |
|
|
|
|
|
|
|
|
| ||||
|
20. |
|
AMORTIZATION |
|
|
|
|
|
|
|
|
| ||||
|
21. |
|
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
22. |
|
NET OTHER INCOME & EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
REORGANIZATION EXPENSES |
|
|
|
|
|
|
|
|
| ||||||
|
23. |
|
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
24. |
|
U.S. TRUSTEE FEES (1) |
|
|
|
|
|
|
|
|
| ||||
|
25. |
|
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
26. |
|
TOTAL REORGANIZATION EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
27. |
|
INCOME TAX |
|
|
|
|
|
|
|
|
| ||||
|
28. |
|
NET PROFIT (LOSS) |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
Note 1 - This fee is being paid by W.O. Operating Company, Ltd as this company has no bank account or accounting system to record and make payments.
|
|
|
Monthly Operating Report |
|
|
|
|
|
CASE NAME: W.O. Energy of Nevada, Inc. |
|
ACCRUAL BASIS-3 |
|
|
|
|
|
CASE NUMBER: 12-31554-bjh-11 |
|
|
|
|
|
|
|
MONTH |
|
MONTH |
|
MONTH |
|
QUARTER |
| ||||
|
|
|
|
|
3/8/2012 to 3/31/2012 |
|
April 2012 |
|
|
|
TOTAL |
| ||||
|
CASH RECEIPTS AND DISBURSEMENTS |
|
|
|
|
|
|
|
|
| ||||||
|
1. |
|
CASH - BEGINNING OF MONTH |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
| |
|
RECEIPTS FROM OPERATIONS |
|
|
|
|
|
|
|
|
| ||||||
|
2. |
|
CASH SALES |
|
|
|
|
|
|
|
|
| ||||
|
COLLECTION OF ACCOUNTS RECEIVABLE |
|
|
|
|
|
|
|
|
| ||||||
|
3. |
|
PREPETITION |
|
|
|
|
|
|
|
|
| ||||
|
4. |
|
POSTPETITION |
|
|
|
|
|
|
|
|
| ||||
|
5. |
|
TOTAL OPERATING RECEIPTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
NON-OPERATING RECEIPTS |
|
|
|
|
|
|
|
|
| ||||||
|
6. |
|
LOANS & ADVANCES (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
7. |
|
SALE OF ASSETS |
|
|
|
|
|
|
|
|
| ||||
|
8. |
|
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
9. |
|
TOTAL NON-OPERATING RECEIPTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
10. |
|
TOTAL RECEIPTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
11. |
|
TOTAL CASH AVAILABLE |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
OPERATING DISBURSEMENTS |
|
|
|
|
|
|
|
|
| ||||||
|
12. |
|
NET PAYROLL |
|
|
|
|
|
|
|
|
| ||||
|
13. |
|
PAYROLL TAXES PAID |
|
|
|
|
|
|
|
|
| ||||
|
14. |
|
SALES, USE & OTHER TAXES PAID |
|
|
|
|
|
|
|
|
| ||||
|
15. |
|
SECURED / RENTAL / LEASES |
|
|
|
|
|
|
|
|
| ||||
|
16. |
|
UTILITIES |
|
|
|
|
|
|
|
|
| ||||
|
17. |
|
INSURANCE |
|
|
|
|
|
|
|
|
| ||||
|
18. |
|
INVENTORY PURCHASES |
|
|
|
|
|
|
|
|
| ||||
|
19. |
|
VEHICLE EXPENSES |
|
|
|
|
|
|
|
|
| ||||
|
20. |
|
TRAVEL |
|
|
|
|
|
|
|
|
| ||||
|
21. |
|
ENTERTAINMENT |
|
|
|
|
|
|
|
|
| ||||
|
22. |
|
REPAIRS & MAINTENANCE |
|
|
|
|
|
|
|
|
| ||||
|
23. |
|
SUPPLIES |
|
|
|
|
|
|
|
|
| ||||
|
24. |
|
ADVERTISING |
|
|
|
|
|
|
|
|
| ||||
|
25. |
|
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
26. |
|
TOTAL OPERATING DISBURSEMENTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
REORGANIZATION EXPENSES |
|
|
|
|
|
|
|
|
| ||||||
|
27. |
|
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
28. |
|
U.S. TRUSTEE FEES |
|
|
|
|
|
|
|
|
| ||||
|
29. |
|
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
30. |
|
TOTAL REORGANIZATION EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
31. |
|
TOTAL DISBURSEMENTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
32. |
|
NET CASH FLOW |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
33. |
|
CASH - END OF MONTH |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
|
|
Monthly Operating Report |
|
|
|
|
|
CASE NAME: W.O. Energy of Nevada, Inc. |
|
ACCRUAL BASIS-4 |
|
|
|
|
|
CASE NUMBER: 12-31554-bjh-11 |
|
|
|
|
|
|
|
SCHEDULE |
|
MONTH |
|
MONTH |
|
MONTH |
| ||||
|
ACCOUNTS RECEIVABLE AGING |
|
AMOUNT |
|
3/8/2012 to 3/31/2012 |
|
April 2012 |
|
|
| ||||||
|
1. |
|
0-30 |
|
|
|
|
|
|
|
|
| ||||
|
2. |
|
31-60 |
|
|
|
|
|
|
|
|
| ||||
|
3. |
|
61-90 |
|
|
|
|
|
|
|
|
| ||||
|
4. |
|
91+ |
|
|
|
|
|
|
|
|
| ||||
|
5. |
|
TOTAL ACCOUNTS RECEIVABLE |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
6. |
|
AMOUNT CONSIDERED UNCOLLECTIBLE |
|
|
|
|
|
|
|
|
| ||||
|
7. |
|
ACCOUNTS RECEIVABLE (NET) |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
AGING OF POSTPETITION TAXES AND PAYABLES |
MONTH: |
April 2012 |
|
|
|
|
|
0-30 |
|
31-60 |
|
61-90 |
|
91+ |
|
|
| |||||
|
TAXES PAYABLE |
|
DAYS |
|
DAYS |
|
DAYS |
|
DAYS |
|
TOTAL |
| |||||||
|
1. |
|
FEDERAL |
|
|
|
|
|
|
|
|
|
|
| |||||
|
2. |
|
STATE |
|
|
|
|
|
|
|
|
|
|
| |||||
|
3. |
|
LOCAL |
|
|
|
|
|
|
|
|
|
|
| |||||
|
4. |
|
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
|
|
| |||||
|
5. |
|
TOTAL TAXES PAYABLE |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
6. |
|
ACCOUNTS PAYABLE |
|
|
|
|
|
|
|
|
|
|
| |||||
|
STATUS OF POSTPETITION TAXES |
MONTH: |
April 2012 |
|
|
|
BEGINNING |
|
AMOUNT |
|
|
|
ENDING |
| |||||
|
|
|
TAX |
|
WITHHELD AND/ |
|
AMOUNT |
|
TAX |
| |||||
|
|
|
LIABILITY* |
|
OR ACCRUED |
|
PAID |
|
LIABILITY |
| |||||
|
FEDERAL |
|
|
|
|
|
|
|
|
| |||||
|
1. |
WITHHOLDING** |
|
|
|
|
|
|
|
|
| ||||
|
2. |
FICA-EMPLOYEE** |
|
|
|
|
|
|
|
|
| ||||
|
3. |
FICA-EMPLOYER** |
|
|
|
|
|
|
|
|
| ||||
|
4. |
UNEMPLOYMENT |
|
|
|
|
|
|
|
|
| ||||
|
5. |
INCOME |
|
|
|
|
|
|
|
|
| ||||
|
6. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
7. |
TOTAL FEDERAL TAXES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
STATE AND LOCAL |
|
|
|
|
|
|
|
|
| |||||
|
8. |
WITHHOLDING |
|
|
|
|
|
|
|
|
| ||||
|
9. |
SALES |
|
|
|
|
|
|
|
|
| ||||
|
10. |
EXCISE |
|
|
|
|
|
|
|
|
| ||||
|
11. |
UNEMPLOYMENT |
|
|
|
|
|
|
|
|
| ||||
|
12. |
REAL PROPERTY |
|
|
|
|
|
|
|
|
| ||||
|
13. |
PERSONAL PROPERTY |
|
|
|
|
|
|
|
|
| ||||
|
14. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
15. |
TOTAL STATE & LOCAL |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
16. |
TOTAL TAXES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
* The beginning tax liability should represent the liability from the prior month or, if this is the first operating report, the amount should be zero.
** Attach photocopies of IRS Form 6123 or your FTD coupon and payment receipt to verify payment or deposit.
|
|
|
Monthly Operating Report |
|
|
|
|
|
CASE NAME: W.O. Energy of Nevada, Inc. |
|
ACCRUAL BASIS-5 |
|
|
|
|
|
CASE NUMBER: 12-31554-bjh-11 |
|
|
The debtor in possession must complete the reconciliation below for each bank account, including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc. Accounts with restricted funds should be identified by placing an asterisk next to the account number. Attach additional sheets if necessary.
|
|
MONTH: |
April 2012 |
BANK RECONCILIATIONS
|
|
|
Account #1 |
|
Account #2 |
|
Account #3 |
|
|
| |||||
|
A. |
BANK: |
|
|
|
|
|
|
|
|
| ||||
|
B. |
ACCOUNT NUMBER: |
|
|
|
|
|
|
|
|
| ||||
|
C. |
PURPOSE (TYPE): |
|
|
|
|
|
|
|
TOTAL |
| ||||
|
1. |
BALANCE PER BANK STATEMENT |
|
|
|
|
|
|
|
|
| ||||
|
2. |
ADD: TOTAL DEPOSITS NOT CREDITED |
|
|
|
|
|
|
|
|
| ||||
|
3. |
SUBTRACT: OUTSTANDING CHECKS |
|
|
|
|
|
|
|
|
| ||||
|
4. |
OTHER RECONCILING ITEMS |
|
|
|
|
|
|
|
|
| ||||
|
5. |
MONTH END BALANCE PER BOOKS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
6. |
NUMBER OF LAST CHECK WRITTEN |
|
|
|
|
|
|
|
|
| ||||
INVESTMENT ACCOUNTS
|
|
|
DATE OF |
|
TYPE OF |
|
PURCHASE |
|
CURRENT |
| |||
|
BANK, ACCOUNT NAME & NUMBER |
|
PURCHASE |
|
INSTRUMENT |
|
PRICE |
|
VALUE |
| |||
|
7. |
|
|
|
|
|
|
|
|
|
| ||
|
8. |
|
|
|
|
|
|
|
|
|
| ||
|
9. |
|
|
|
|
|
|
|
|
|
| ||
|
10. |
|
|
|
|
|
|
|
|
|
| ||
|
11. |
TOTAL INVESTMENTS |
|
|
|
|
|
$ |
0 |
|
$ |
0 |
|
CASH
|
12. |
CURRENCY ON HAND |
|
$ |
0 |
|
|
|
|
|
|
| |
|
13. |
TOTAL CASH - END OF MONTH |
|
$ |
0 |
|
|
|
|
Monthly Operating Report |
|
|
|
|
|
CASE NAME: W.O. Energy of Nevada, Inc. |
|
ACCRUAL BASIS-6 |
|
|
|
|
|
CASE NUMBER: 12-31554-bjh-11 |
|
|
|
|
MONTH: |
April 2012 |
PAYMENTS TO INSIDERS AND PROFESSIONALS
OF THE TOTAL DISBURSEMENTS SHOWN FOR THE MONTH, LIST THE AMOUNT PAID TO INSIDERS (AS DEFINED IN SECTION 101 (31) (A)-(F) OF THE U.S. BANKRUPTCY CODE) AND TO PROFESSIONALS. ALSO, FOR PAYMENTS TO INSIDERS, IDENTIFY THE TYPE OF COMPENSATION PAID (e.g. SALARY, BONUS, COMMISSIONS, INSURANCE, HOUSING ALLOWANCE, TRAVEL, CAR ALLOWANCE, ETC.). ATTACH ADDITIONAL SHEETS IF NECESSARY.
|
INSIDERS |
|
|
|
TYPE OF |
|
AMOUNT |
|
TOTAL PAID |
| |||
|
NAME |
|
PAYMENT |
|
PAID |
|
TO DATE |
| |||
|
1. |
|
|
|
|
|
|
|
| ||
|
2. |
|
|
|
|
|
|
|
| ||
|
3. |
|
|
|
|
|
|
|
| ||
|
4. |
|
|
|
|
|
|
|
| ||
|
5. |
|
|
|
|
|
|
|
| ||
|
6. TOTAL PAYMENTS TO INSIDERS |
|
$ |
0 |
|
$ |
0 |
| |||
PROFESSIONALS
|
|
|
DATE OF COURT |
|
|
|
|
|
|
|
TOTAL |
| |||||
|
|
|
ORDER AUTHORIZING |
|
AMOUNT |
|
AMOUNT |
|
TOTAL PAID |
|
INCURRED |
| |||||
|
NAME |
|
PAYMENT |
|
APPROVED |
|
PAID |
|
TO DATE |
|
& UNPAID * |
| |||||
|
1. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
2. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
3. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
4. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
5. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
6. |
TOTAL PAYMENTS TO PROFESSIONALS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| ||
* INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
|
|
|
SCHEDULED |
|
AMOUNTS |
|
|
| ||||
|
|
|
MONTHLY |
|
PAID |
|
TOTAL |
| ||||
|
|
|
PAYMENTS |
|
DURING |
|
UNPAID |
| ||||
|
NAME OF CREDITOR |
|
DUE |
|
MONTH |
|
POSTPETITION |
| ||||
|
1. |
|
|
|
|
|
|
|
| |||
|
2. |
|
|
|
|
|
|
|
| |||
|
3. |
|
|
|
|
|
|
|
| |||
|
4. |
|
|
|
|
|
|
|
| |||
|
5. |
|
|
|
|
|
|
|
| |||
|
6. |
TOTAL |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
|
|
Monthly Operating Report |
|
|
|
|
|
CASE NAME: W.O. Energy of Nevada, Inc. |
|
ACCRUAL BASIS-7 |
|
|
|
|
|
CASE NUMBER: 12-31554-bjh-11 |
|
|
|
|
MONTH: |
April 2012 |
QUESTIONNAIRE
|
|
|
YES |
|
NO | |
|
1. |
HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? |
|
|
|
X |
|
2. |
HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? |
|
|
|
X |
|
3. |
ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? |
|
|
|
X |
|
4. |
HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? |
|
|
|
X |
|
5. |
HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? |
|
|
|
X |
|
6. |
ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? |
|
|
|
X |
|
7. |
ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? |
|
|
|
X |
|
8. |
ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? |
|
|
|
X |
|
9. |
ARE ANY OTHER POSTPETITION TAXES PAST DUE? |
|
|
|
X |
|
10. |
ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? |
|
|
|
X |
|
11. |
HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? |
|
|
|
X |
|
12. |
ARE ANY WAGE PAYMENTS PAST DUE? |
|
|
|
X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “YES,” PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSURANCE
|
|
|
YES |
|
NO | |
|
1. |
ARE WORKER’S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? |
|
X |
|
|
|
2. |
ARE ALL PREMIUM PAYMENTS PAID CURRENT? |
|
X |
|
|
|
3. |
PLEASE ITEMIZE POLICIES BELOW. |
|
|
|
|
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “NO,” OR IF ANY POLICIES HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSTALLMENT PAYMENTS
|
TYPE OF |
|
|
|
|
|
PAYMENT AMOUNT |
|
POLICY |
|
CARRIER |
|
PERIOD COVERED |
|
& FREQUENCY |
|
General Liability Insurance |
|
ACE American Insurance |
|
8/16/2011 to 8/16/2012 |
|
$39,452.99 paid monthly |
|
Business Auto |
|
ACE American Insurance |
|
8/16/2011 to 8/16/2012 |
|
to Premium Assignment |
|
Umbrella |
|
ACE Property & Casualty |
|
8/16/2011 to 8/16/2012 |
|
Corporation. |
|
Umbrella Extension |
|
Gotham Insurance Company |
|
8/16/2011 to 8/16/2012 |
|
1 payment remains at |
|
Marine Insurance |
|
AGCS Marine Insurance Co. |
|
8/16/2011 to 8/16/2012 |
|
4/30/2012 |
|
COW |
|
Lloyds of London |
|
8/16/2011 to 8/16/2012 |
|
|
Exhibit 99.7
|
|
|
Monthly Operating Report | |
|
|
|
| |
|
CASE NAME: WO Energy, Inc. |
|
ACCRUAL BASIS | |
|
|
|
| |
|
CASE NUMBER: 12-31555-bjh-11 |
|
| |
|
|
|
| |
|
JUDGE: |
Barbara J. Houser |
|
|
UNITED STATES BANKRUPTCY COURT
NORTHERN AND EASTERN
DISTRICT OF
TEXAS
DIVISION 6
MONTHLY OPERATING REPORT
MONTH ENDING: April 30th, 2012
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY): IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
|
RESPONSIBLE PARTY: |
|
|
|
|
|
|
|
/s/ John H. Homier |
|
CFO |
|
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY |
|
TITLE |
|
|
|
|
|
John H. Homier |
|
5/21/2012 |
|
PRINTED NAME OF RESPONSIBLE PARTY |
|
DATE |
|
|
|
|
|
|
|
|
|
PREPARER: |
|
|
|
|
|
|
|
/s/ Adrian Lamberti |
|
Controller |
|
ORIGINAL SIGNATURE OF PREPARER |
|
TITLE |
|
|
|
|
|
Adrian Lamberti |
|
5/21/2012 |
|
PRINTED NAME OF PREPARER |
|
DATE |
|
|
|
Monthly Operating Report |
|
|
|
|
|
CASE NAME: WO Energy, Inc. |
|
ACCRUAL BASIS-1 |
|
|
|
|
|
CASE NUMBER: 12-31555-bjh-11 |
|
|
COMPARATIVE BALANCE SHEET
|
|
|
|
|
SCHEDULE |
|
MONTH |
|
MONTH |
|
MONTH |
|
| ||||||
|
|
|
|
|
AMOUNT |
|
3/31/2012 |
|
April 2012 |
|
|
|
| ||||||
|
ASSETS |
|
|
|
|
|
|
|
|
|
| ||||||||
|
1. |
UNRESTRICTED CASH |
|
|
|
|
|
|
|
|
|
| |||||||
|
2. |
RESTRICTED CASH |
|
|
|
|
|
|
|
|
|
| |||||||
|
3. |
TOTAL CASH |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
| |||
|
4. |
ACCOUNTS RECEIVABLE (NET) |
|
|
|
|
|
|
|
|
|
| |||||||
|
5. |
INVENTORY |
|
|
|
|
|
|
|
|
|
| |||||||
|
6. |
NOTES RECEIVABLE |
|
|
|
|
|
|
|
|
|
| |||||||
|
7. |
PREPAID EXPENSES |
|
|
|
|
|
|
|
|
|
| |||||||
|
8. |
OTHER (1) |
|
$ |
250,000 |
|
|
|
|
|
|
|
| ||||||
|
9. |
TOTAL CURRENT ASSETS |
|
$ |
250,000 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
| |||
|
10. |
PROPERTY, PLANT & EQUIPMENT |
|
|
|
|
|
|
|
|
|
| |||||||
|
11. |
LESS: ACCUMULATED DEPRECIATION / DEPLETION |
|
|
|
|
|
|
|
|
|
| |||||||
|
12. |
NET PROPERTY, PLANT & EQUIPMENT |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
| |||
|
13. |
DUE FROM INSIDERS |
|
|
|
|
|
|
|
|
|
| |||||||
|
14. |
OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) |
|
|
|
|
|
|
|
|
|
| |||||||
|
15. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
|
| |||||||
|
16. |
TOTAL ASSETS |
|
$ |
250,000 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
| |||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
|
POSTPETITION LIABILITIES |
|
|
|
|
|
|
|
|
|
| ||||||||
|
17. |
ACCOUNTS PAYABLE |
|
|
|
|
|
|
|
|
| ||||||||
|
18. |
TAXES PAYABLE |
|
|
|
|
|
|
|
|
| ||||||||
|
19. |
NOTES PAYABLE |
|
|
|
|
|
|
|
|
| ||||||||
|
20. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||||||
|
21. |
SECURED DEBT |
|
|
|
|
|
|
|
|
| ||||||||
|
22. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||||||
|
23. |
TOTAL POSTPETITION LIABILITIES |
|
|
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| |||||
|
PREPETITION LIABILITIES |
|
|
|
|
|
|
|
|
| |||||||||
|
24. |
SECURED DEBT (2) |
|
$ |
80,995,000 |
|
|
|
|
|
|
| |||||||
|
25. |
PRIORITY DEBT |
|
|
|
|
|
|
|
|
|
| |||||||
|
26. |
UNSECURED DEBT |
|
$ |
950,000 |
|
|
|
|
|
|
| |||||||
|
27. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
|
| |||||||
|
28. |
TOTAL PREPETITION LIABILITIES |
|
$ |
81,945,000 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| ||||
|
29. |
TOTAL LIABILITIES |
|
$ |
81,945,000 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| ||||
|
EQUITY |
|
|
|
|
|
|
|
|
| |||||||||
|
30. |
PREPETITION OWNERS’ EQUITY |
|
|
|
|
|
|
|
|
| ||||||||
|
31. |
POSTPETITION CUMULATIVE |
|
|
|
|
|
|
|
|
| ||||||||
|
|
PROFIT OR (LOSS) |
|
|
|
|
|
|
|
|
| ||||||||
|
32. |
DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) |
|
|
|
|
|
|
|
|
| ||||||||
|
33. |
TOTAL EQUITY |
|
$ |
(81,695,000 |
) |
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| ||||
|
34. |
TOTAL LIABILITIES & OWNERS’ EQUITY |
|
$ |
250,000 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| ||||
|
|
(1) Consolidated retainer for Cano Petroleum, Inc. and its related debtor entities |
|
|
(2) For balance sheet purposes, the secured debt for Cano Petroleum, Inc. and its subsidiaries is carried in total by Cano Petroleum, Inc. |
|
|
|
Monthly Operating Report |
|
|
|
|
|
CASE NAME: WO Energy, Inc. |
|
ACCRUAL BASIS-2 |
|
|
|
|
|
CASE NUMBER: 12-31555-bjh-11 |
|
|
INCOME STATEMENT
|
|
|
MONTH |
|
MONTH |
|
MONTH |
|
MONTH |
| |||||
|
|
|
3/8/2012 to 3/31/2012 |
|
April 2012 |
|
|
|
|
| |||||
|
REVENUES |
|
|
|
|
|
|
|
|
| |||||
|
1. |
GROSS REVENUES |
|
|
|
|
|
|
|
|
| ||||
|
2. |
LESS: RETURNS & DISCOUNTS |
|
|
|
|
|
|
|
|
| ||||
|
3. |
NET REVENUE |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
COST OF GOODS SOLD |
|
|
|
|
|
|
|
|
| |||||
|
4. |
MATERIAL |
|
|
|
|
|
|
|
|
| ||||
|
5. |
DIRECT LABOR |
|
|
|
|
|
|
|
|
| ||||
|
6. |
DIRECT OVERHEAD |
|
|
|
|
|
|
|
|
| ||||
|
7. |
TOTAL COST OF GOODS SOLD |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
8. |
GROSS PROFIT |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
OPERATING EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
9. |
OFFICER / INSIDER COMPENSATION |
|
|
|
|
|
|
|
|
| ||||
|
10. |
SELLING & MARKETING |
|
|
|
|
|
|
|
|
| ||||
|
11. |
GENERAL & ADMINISTRATIVE |
|
|
|
|
|
|
|
|
| ||||
|
12. |
RENT & LEASE |
|
|
|
|
|
|
|
|
| ||||
|
13. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
14. |
TOTAL OPERATING EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
15. |
INCOME BEFORE NON-OPERATING INCOME & EXPENSE |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
OTHER INCOME & EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
16. |
NON-OPERATING INCOME (ATT. LIST) |
|
|
|
|
|
|
|
|
| ||||
|
17. |
NON-OPERATING EXPENSE (ATT. LIST) |
|
|
|
|
|
|
|
|
| ||||
|
18. |
INTEREST EXPENSE |
|
|
|
|
|
|
|
|
| ||||
|
19. |
DEPRECIATION / DEPLETION |
|
|
|
|
|
|
|
|
| ||||
|
20. |
AMORTIZATION |
|
|
|
|
|
|
|
|
| ||||
|
21. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
22. |
NET OTHER INCOME & EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
REORGANIZATION EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
23. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
24. |
U.S. TRUSTEE FEES (1) |
|
|
|
|
|
|
|
|
| ||||
|
25. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
26. |
TOTAL REORGANIZATION EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
27. |
INCOME TAX |
|
|
|
|
|
|
|
|
| ||||
|
28. |
NET PROFIT (LOSS) |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
Note 1 - This fee is being paid by W.O. Operating Company, Ltd as this company has no bank account or accounting system to record and make payments.
|
|
|
Monthly Operating Report |
|
|
|
|
|
CASE NAME: WO Energy, Inc. |
|
ACCRUAL BASIS-3 |
|
|
|
|
|
CASE NUMBER: 12-31555-bjh-11 |
|
|
|
|
|
|
MONTH |
|
MONTH |
|
MONTH |
|
QUARTER |
| ||||
|
|
|
|
3/8/2012 to 3/31/2012 |
|
April 2012 |
|
|
|
TOTAL |
| ||||
|
CASH RECEIPTS AND DISBURSEMENTS |
|
|
|
|
|
|
|
|
| |||||
|
1. |
CASH - BEGINNING OF MONTH |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
| |
|
RECEIPTS FROM OPERATIONS |
|
|
|
|
|
|
|
|
| |||||
|
2. |
CASH SALES |
|
|
|
|
|
|
|
|
| ||||
|
COLLECTION OF ACCOUNTS RECEIVABLE |
|
|
|
|
|
|
|
|
| |||||
|
3. |
PREPETITION |
|
|
|
|
|
|
|
|
| ||||
|
4. |
POSTPETITION |
|
|
|
|
|
|
|
|
| ||||
|
5. |
TOTAL OPERATING RECEIPTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
NON-OPERATING RECEIPTS |
|
|
|
|
|
|
|
|
| |||||
|
6. |
LOANS & ADVANCES (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
7. |
SALE OF ASSETS |
|
|
|
|
|
|
|
|
| ||||
|
8. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
9. |
TOTAL NON-OPERATING RECEIPTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
10. |
TOTAL RECEIPTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
11. |
TOTAL CASH AVAILABLE |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
OPERATING DISBURSEMENTS |
|
|
|
|
|
|
|
|
| |||||
|
12. |
NET PAYROLL |
|
|
|
|
|
|
|
|
| ||||
|
13. |
PAYROLL TAXES PAID |
|
|
|
|
|
|
|
|
| ||||
|
14. |
SALES, USE & OTHER TAXES PAID |
|
|
|
|
|
|
|
|
| ||||
|
15. |
SECURED / RENTAL / LEASES |
|
|
|
|
|
|
|
|
| ||||
|
16. |
UTILITIES |
|
|
|
|
|
|
|
|
| ||||
|
17. |
INSURANCE |
|
|
|
|
|
|
|
|
| ||||
|
18. |
INVENTORY PURCHASES |
|
|
|
|
|
|
|
|
| ||||
|
19. |
VEHICLE EXPENSES |
|
|
|
|
|
|
|
|
| ||||
|
20. |
TRAVEL |
|
|
|
|
|
|
|
|
| ||||
|
21. |
ENTERTAINMENT |
|
|
|
|
|
|
|
|
| ||||
|
22. |
REPAIRS & MAINTENANCE |
|
|
|
|
|
|
|
|
| ||||
|
23. |
SUPPLIES |
|
|
|
|
|
|
|
|
| ||||
|
24. |
ADVERTISING |
|
|
|
|
|
|
|
|
| ||||
|
25. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
26. |
TOTAL OPERATING DISBURSEMENTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
REORGANIZATION EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
27. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
28. |
U.S. TRUSTEE FEES |
|
|
|
|
|
|
|
|
| ||||
|
29. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
30. |
TOTAL REORGANIZATION EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
31. |
TOTAL DISBURSEMENTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
32. |
NET CASH FLOW |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
33. |
CASH - END OF MONTH |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
|
|
Monthly Operating Report |
|
|
|
|
|
CASE NAME: WO Energy, Inc. |
|
ACCRUAL BASIS-4 |
|
|
|
|
|
CASE NUMBER: 12-31555-bjh-11 |
|
|
|
|
|
|
SCHEDULE |
|
MONTH |
|
MONTH |
|
MONTH |
| ||||
|
ACCOUNTS RECEIVABLE AGING |
|
AMOUNT |
|
3/8/2012 to 3/31/2012 |
|
April 2012 |
|
|
| |||||
|
1. |
0-30 |
|
|
|
|
|
|
|
|
| ||||
|
2. |
31-60 |
|
|
|
|
|
|
|
|
| ||||
|
3. |
61-90 |
|
|
|
|
|
|
|
|
| ||||
|
4. |
91+ |
|
|
|
|
|
|
|
|
| ||||
|
5. |
TOTAL ACCOUNTS RECEIVABLE |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
6. |
AMOUNT CONSIDERED UNCOLLECTIBLE |
|
|
|
|
|
|
|
|
| ||||
|
7. |
ACCOUNTS RECEIVABLE (NET) |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
AGING OF POSTPETITION TAXES AND PAYABLES |
|
MONTH: |
April 2012 |
|
|
|
0-30 |
|
31-60 |
|
61-90 |
|
91+ |
|
|
| ||||||
|
TAXES PAYABLE |
|
DAYS |
|
DAYS |
|
DAYS |
|
DAYS |
|
TOTAL |
| ||||||
|
1. |
FEDERAL |
|
|
|
|
|
|
|
|
|
|
| |||||
|
2. |
STATE |
|
|
|
|
|
|
|
|
|
|
| |||||
|
3. |
LOCAL |
|
|
|
|
|
|
|
|
|
|
| |||||
|
4. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
|
|
| |||||
|
5. |
TOTAL TAXES PAYABLE |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
6. |
ACCOUNTS PAYABLE |
|
|
|
|
|
|
|
|
|
|
| |||||
|
STATUS OF POSTPETITION TAXES |
|
MONTH: |
April 2012 |
|
|
|
|
BEGINNING |
|
AMOUNT |
|
|
|
ENDING |
| ||||
|
|
|
|
TAX |
|
WITHHELD AND/ |
|
AMOUNT |
|
TAX |
| ||||
|
|
|
|
LIABILITY* |
|
0R ACCRUED |
|
PAID |
|
LIABILITY |
| ||||
|
FEDERAL |
|
|
|
|
|
|
|
|
| |||||
|
1. |
WITHHOLDING** |
|
|
|
|
|
|
|
|
| ||||
|
2. |
FICA-EMPLOYEE** |
|
|
|
|
|
|
|
|
| ||||
|
3. |
FICA-EMPLOYER** |
|
|
|
|
|
|
|
|
| ||||
|
4. |
UNEMPLOYMENT |
|
|
|
|
|
|
|
|
| ||||
|
5. |
INCOME |
|
|
|
|
|
|
|
|
| ||||
|
6. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
7. |
TOTAL FEDERAL TAXES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
STATE AND LOCAL |
|
|
|
|
|
|
|
|
| |||||
|
8. |
WITHHOLDING |
|
|
|
|
|
|
|
|
| ||||
|
9. |
SALES |
|
|
|
|
|
|
|
|
| ||||
|
10. |
EXCISE |
|
|
|
|
|
|
|
|
| ||||
|
11. |
UNEMPLOYMENT |
|
|
|
|
|
|
|
|
| ||||
|
12. |
REAL PROPERTY |
|
|
|
|
|
|
|
|
| ||||
|
13. |
PERSONAL PROPERTY |
|
|
|
|
|
|
|
|
| ||||
|
14. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
15. |
TOTAL STATE & LOCAL |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
16. |
TOTAL TAXES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
* |
The beginning tax liability should represent the liability from the prior month or, if this is the first operating report, the amount should be zero. |
|
** |
Attach photocopies of IRS Form 6123 or your FTD coupon and payment receipt to verify payment or deposit. |
|
|
|
Monthly Operating Report |
|
|
|
|
|
CASE NAME: WO Energy, Inc. |
|
ACCRUAL BASIS-5 |
|
|
|
|
|
CASE NUMBER: 12-31555-bjh-11 |
|
|
The debtor in possession must complete the reconciliation below for each bank account, including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc. Accounts with restricted funds should be identified by placing an asterisk next to the account number. Attach additional sheets if necessary.
|
|
|
MONTH: |
April 2012 |
BANK RECONCILIATIONS
|
A. |
BANK: |
|
Account #1 |
|
Account #2 |
|
Account #3 |
|
|
| |||
|
B. |
ACCOUNT NUMBER: |
|
|
|
|
|
|
|
|
| |||
|
C. |
PURPOSE (TYPE): |
|
|
|
|
|
|
|
TOTAL |
| |||
|
1. |
BALANCE PER BANK STATEMENT |
|
|
|
|
|
|
|
|
| |||
|
2. |
ADD: TOTAL DEPOSITS NOT CREDITED |
|
|
|
|
|
|
|
|
| |||
|
3. |
SUBTRACT: OUTSTANDING CHECKS |
|
|
|
|
|
|
|
|
| |||
|
4. |
OTHER RECONCILING ITEMS |
|
|
|
|
|
|
|
|
| |||
|
5. |
MONTH END BALANCE PER BOOKS |
|
|
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
6. |
NUMBER OF LAST CHECK WRITTEN |
|
|
|
|
|
|
|
|
| |||
INVESTMENT ACCOUNTS
|
|
|
DATE OF |
|
TYPE OF |
|
PURCHASE |
|
CURRENT |
| |||
|
BANK, ACCOUNT NAME & NUMBER |
|
PURCHASE |
|
INSTRUMENT |
|
PRICE |
|
VALUE |
| |||
|
7. |
|
|
|
|
|
|
|
|
|
| ||
|
8. |
|
|
|
|
|
|
|
|
|
| ||
|
9. |
|
|
|
|
|
|
|
|
|
| ||
|
10. |
|
|
|
|
|
|
|
|
|
| ||
|
11. |
TOTAL INVESTMENTS |
|
|
|
|
|
$ |
0 |
|
$ |
0 |
|
CASH
|
12. |
CURRENCY ON HAND |
|
$ |
0 |
|
|
|
|
|
|
| |
|
13. |
TOTAL CASH - END OF MONTH |
|
$ |
0 |
|
|
|
|
Monthly Operating Report |
|
|
|
|
|
CASE NAME: WO Energy, Inc. |
|
ACCRUAL BASIS-6 |
|
|
|
|
|
CASE NUMBER: 12-31555-bjh-11 |
|
|
|
|
|
MONTH: |
April 2012 |
PAYMENTS TO INSIDERS AND PROFESSIONALS
OF THE TOTAL DISBURSEMENTS SHOWN FOR THE MONTH, LIST THE AMOUNT PAID TO INSIDERS (AS DEFINED IN SECTION 101 (31) (A)-(F) OF THE U.S. BANKRUPTCY CODE) AND TO PROFESSIONALS. ALSO, FOR PAYMENTS TO INSIDERS, IDENTIFY THE TYPE OF COMPENSATION PAID (e.g. SALARY, BONUS, COMMISSIONS, INSURANCE, HOUSING ALLOWANCE, TRAVEL, CAR ALLOWANCE, ETC.). ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSIDERS
|
|
|
TYPE OF |
|
AMOUNT |
|
TOTAL PAID |
| |||
|
NAME |
|
PAYMENT |
|
PAID |
|
TO DATE |
| |||
|
1. |
|
|
|
|
|
|
|
| ||
|
2. |
|
|
|
|
|
|
|
| ||
|
3. |
|
|
|
|
|
|
|
| ||
|
4. |
|
|
|
|
|
|
|
| ||
|
5. |
|
|
|
|
|
|
|
| ||
|
6. |
TOTAL PAYMENTS TO INSIDERS |
|
$ |
0 |
|
$ |
0 |
| ||
PROFESSIONALS
|
|
|
DATE OF COURT |
|
|
|
|
|
|
|
TOTAL |
| |||||
|
|
|
ORDER AUTHORIZING |
|
AMOUNT |
|
AMOUNT |
|
TOTAL PAID |
|
INCURRED |
| |||||
|
NAME |
|
PAYMENT |
|
APPROVED |
|
PAID |
|
TO DATE |
|
& UNPAID * |
| |||||
|
1. |
|
|
|
|
|
|
|
|
|
| ||||||
|
2. |
|
|
|
|
|
|
|
|
|
| ||||||
|
3. |
|
|
|
|
|
|
|
|
|
| ||||||
|
4. |
|
|
|
|
|
|
|
|
|
| ||||||
|
5. |
|
|
|
|
|
|
|
|
|
|
| |||||
|
6. |
TOTAL PAYMENTS TO PROFESSIONALS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| ||
* INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
|
|
|
|
SCHEDULED |
|
AMOUNTS |
|
|
| ||||
|
|
|
|
MONTHLY |
|
PAID |
|
TOTAL |
| ||||
|
|
|
|
PAYMENTS |
|
DURING |
|
UNPAID |
| ||||
|
NAME OF CREDITOR |
|
DUE |
|
MONTH |
|
POSTPETITION |
| |||||
|
1. |
|
|
|
|
|
|
|
| ||||
|
2. |
|
|
|
|
|
|
|
| ||||
|
3. |
|
|
|
|
|
|
|
| ||||
|
4. |
|
|
|
|
|
|
|
| ||||
|
5. |
|
|
|
|
|
|
|
| ||||
|
6. |
TOTAL |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| |
|
|
|
Monthly Operating Report | |
|
|
|
| |
|
CASE NAME: WO Energy, Inc. |
|
ACCRUAL BASIS-7 | |
|
|
|
| |
|
CASE NUMBER: 12-31555-bjh-11 |
|
| |
|
|
|
| |
|
|
|
MONTH: |
April 2012 |
QUESTIONNAIRE
|
|
|
YES |
|
NO |
| |
|
1. |
HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? |
|
|
|
X |
|
|
2. |
HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? |
|
|
|
X |
|
|
3. |
ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? |
|
|
|
X |
|
|
4. |
HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? |
|
|
|
X |
|
|
5. |
HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? |
|
|
|
X |
|
|
6. |
ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? |
|
|
|
X |
|
|
7. |
ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? |
|
|
|
X |
|
|
8. |
ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? |
|
|
|
X |
|
|
9. |
ARE ANY OTHER POSTPETITION TAXES PAST DUE? |
|
|
|
X |
|
|
10. |
ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? |
|
|
|
X |
|
|
11. |
HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? |
|
|
|
X |
|
|
12. |
ARE ANY WAGE PAYMENTS PAST DUE? |
|
|
|
X |
|
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “YES,” PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSURANCE
|
|
|
|
YES |
|
NO |
|
|
1. |
ARE WORKER’S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? |
|
X |
|
|
|
|
2. |
ARE ALL PREMIUM PAYMENTS PAID CURRENT? |
|
X |
|
|
|
|
3. |
PLEASE ITEMIZE POLICIES BELOW. |
|
|
|
|
|
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “NO,” OR IF ANY POLICIES HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSTALLMENT PAYMENTS
|
TYPE OF |
|
|
|
|
|
PAYMENT AMOUNT |
|
POLICY |
|
CARRIER |
|
PERIOD COVERED |
|
& FREQUENCY |
|
General Liability Insurance |
|
ACE American Insurance |
|
8/16/2011 to 8/16/2012 |
|
$39,452.99 paid monthly |
|
Business Auto |
|
ACE American Insurance |
|
8/16/2011 to 8/16/2012 |
|
to Premium Assignment |
|
Umbrella |
|
ACE Property & Casualty |
|
8/16/2011 to 8/16/2012 |
|
Corporation. |
|
Umbrella Extension |
|
Gotham Insurance Company |
|
8/16/2011 to 8/16/2012 |
|
1 payment remains at |
|
Marine Insurance |
|
AGCS Marine Insurance Co. |
|
8/16/2011 to 8/16/2012 |
|
4/30/2012 |
|
COW |
|
Lloyds of London |
|
8/16/2011 to 8/16/2012 |
|
|
Exhibit 99.8
|
|
|
Monthly Operating Report | |
|
|
|
| |
|
CASE NAME: W.O. Operating Company, Ltd. |
|
ACCRUAL BASIS | |
|
|
|
| |
|
CASE NUMBER: 12-31556-bjh-11 |
|
| |
|
|
|
| |
|
JUDGE: |
Barbara J. Houser |
|
|
UNITED STATES BANKRUPTCY COURT
NORTHERN AND EASTERN
DISTRICT OF
TEXAS
DIVISION 6
MONTHLY OPERATING REPORT
MONTH ENDING: April 30th, 2012
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY): IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
|
RESPONSIBLE PARTY: |
|
|
|
|
|
|
|
/s/ John H. Homier |
|
CFO |
|
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY |
|
TITLE |
|
|
|
|
|
John H. Homier |
|
5/21/2012 |
|
PRINTED NAME OF RESPONSIBLE PARTY |
|
DATE |
|
|
|
|
|
|
|
|
|
PREPARER: |
|
|
|
|
|
|
|
/s/ Adrian Lamberti |
|
Controller |
|
ORIGINAL SIGNATURE OF PREPARER |
|
TITLE |
|
|
|
|
|
Adrian Lamberti |
|
5/21/2012 |
|
PRINTED NAME OF PREPARER |
|
DATE |
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: W.O. Operating Company, Ltd. |
ACCRUAL BASIS-1 |
|
|
|
|
CASE NUMBER: 12-31556-bjh-11 |
|
|
|
|
|
COMPARATIVE BALANCE SHEET |
|
|
|
|
|
SCHEDULE |
|
MONTH |
|
MONTH |
|
MONTH |
| ||||
|
|
|
|
AMOUNT |
|
3/8/12 to 3/31/12 |
|
April 2012 |
|
|
| ||||
|
ASSETS |
|
|
|
|
|
|
|
|
| |||||
|
1. |
UNRESTRICTED CASH |
|
$ |
0 |
|
$ |
617,541 |
|
$ |
1,611,468 |
|
|
| |
|
2. |
RESTRICTED CASH |
|
|
|
|
|
|
|
|
| ||||
|
3. |
TOTAL CASH |
|
$ |
0 |
|
$ |
617,541 |
|
$ |
1,611,468 |
|
$ |
0 |
|
|
4. |
ACCOUNTS RECEIVABLE (NET) |
|
$ |
1,133,000 |
|
$ |
1,135,000 |
|
$ |
981,000 |
|
|
| |
|
5. |
INVENTORY |
|
$ |
817,200 |
|
$ |
554,043 |
|
$ |
272,755 |
|
|
| |
|
6. |
NOTES RECEIVABLE |
|
|
|
|
|
|
|
|
| ||||
|
7. |
PREPAID EXPENSES |
|
|
|
$ |
81,598 |
|
$ |
211,647 |
|
|
| ||
|
8. |
OTHER (ATTACH LIST) (1) |
|
$ |
250,000 |
|
|
|
|
|
|
| |||
|
9. |
TOTAL CURRENT ASSETS |
|
$ |
2,200,200 |
|
$ |
2,388,182 |
|
$ |
3,076,870 |
|
$ |
0 |
|
|
10. |
PROPERTY, PLANT & EQUIPMENT |
|
$ |
127,800 |
|
$ |
157,012,828 |
|
$ |
157,012,828 |
|
|
| |
|
11. |
LESS: ACCUMULATED DEPRECIATION / DEPLETION |
|
|
|
$ |
123,836,141 |
|
$ |
124,036,531 |
|
|
| ||
|
12. |
NET PROPERTY, PLANT & EQUIPMENT |
|
$ |
127,800 |
|
$ |
33,176,687 |
|
$ |
32,976,297 |
|
$ |
0 |
|
|
13. |
DUE FROM INSIDERS |
|
|
|
|
|
|
|
|
| ||||
|
14. |
OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) |
|
$ |
817,200 |
|
$ |
817,200 |
|
$ |
817,200 |
|
|
| |
|
15. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
16. |
TOTAL ASSETS |
|
$ |
3,145,200 |
|
$ |
36,382,069 |
|
$ |
36,870,367 |
|
$ |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
POSTPETITION LIABILITIES |
|
|
|
|
|
|
|
|
| |||||
|
17. |
ACCOUNTS PAYABLE |
|
|
|
$ |
50,258 |
|
$ |
83,610 |
|
|
| ||
|
18. |
TAXES PAYABLE |
|
|
|
|
|
$ |
39,900 |
|
|
| |||
|
19. |
NOTES PAYABLE |
|
|
|
|
|
|
|
|
| ||||
|
20. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
21. |
SECURED DEBT |
|
|
|
|
|
|
|
|
| ||||
|
22. |
OTHER (ATTACH LIST) MOR-1c |
|
|
|
|
|
181,088.00 |
|
|
| ||||
|
23. |
TOTAL POSTPETITION LIABILITIES |
|
|
|
$ |
50,258 |
|
$ |
304,598 |
|
$ |
0 |
| |
|
PREPETITION LIABILITIES |
|
|
|
|
|
|
|
|
| |||||
|
24. |
SECURED DEBT (2) |
|
$ |
80,995,000 |
|
|
|
|
|
|
| |||
|
25. |
PRIORITY DEBT |
|
$ |
840,953 |
|
$ |
840,853 |
|
$ |
815,641 |
|
|
| |
|
26. |
UNSECURED DEBT |
|
$ |
1,386,347 |
|
$ |
1,386,347 |
|
$ |
1,386,347 |
|
|
| |
|
27. |
OTHER (MOR-1 Exhibits A and B) |
|
|
|
$ |
67,387,464 |
|
$ |
67,387,464 |
|
|
| ||
|
28. |
TOTAL PREPETITION LIABILITIES |
|
$ |
83,222,300 |
|
$ |
69,614,664 |
|
$ |
69,589,452 |
|
$ |
0 |
|
|
29. |
TOTAL LIABILITIES |
|
$ |
83,222,300 |
|
$ |
69,664,922 |
|
$ |
69,894,050 |
|
$ |
0 |
|
|
EQUITY |
|
|
|
|
|
|
|
|
| |||||
|
30. |
PREPETITION OWNERS’ EQUITY |
|
|
|
$ |
(33,911,521 |
) |
$ |
(33,911,521 |
) |
|
| ||
|
31. |
POSTPETITION CUMULATIVE PROFIT OR (LOSS) |
|
|
|
$ |
628,668 |
|
$ |
887,838 |
|
|
| ||
|
32. |
DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) |
|
|
|
|
|
|
|
|
| ||||
|
33. |
TOTAL EQUITY |
|
$ |
(80,077,100 |
) |
$ |
(33,282,853 |
) |
$ |
(33,023,683 |
) |
$ |
0 |
|
|
34. |
TOTAL LIABILITIES & OWNERS’ EQUITY |
|
$ |
3,145,200 |
|
$ |
36,382,069 |
|
$ |
33,870,367 |
|
$ |
0 |
|
(1) Includes consolidated retainer of $250,000 for Cano Petroleum, Inc. and its related debtor entities.
(2) For balance sheet purposes, the secured debt for Cano Petroleum, Inc. and its subsidiaries is carried in total by Cano Petroleum, Inc.
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: W.O. Operating Company, Ltd. |
ACCRUAL BASIS-2 |
|
|
|
|
CASE NUMBER: 12-31556-bjh-11 |
|
|
|
|
|
INCOME STATEMENT |
|
|
|
|
MONTH |
|
MONTH |
|
MONTH |
|
MONTH |
| |||||
|
|
|
3/8/2012 to 3/31/2012 |
|
April 2012 |
|
|
|
|
| |||||
|
REVENUES |
|
|
|
|
|
|
|
|
| |||||
|
1. |
GROSS REVENUES |
|
$ |
1,135,000 |
|
$ |
940,500 |
|
|
|
|
| ||
|
2. |
LESS: RETURNS & DISCOUNTS |
|
|
|
|
|
|
|
|
| ||||
|
3. |
NET REVENUE |
|
$ |
1,135,000 |
|
$ |
940,500 |
|
$ |
0 |
|
$ |
0 |
|
|
COST OF GOODS SOLD |
|
|
|
|
|
|
|
|
| |||||
|
4. |
MATERIAL |
|
|
|
|
|
|
|
|
| ||||
|
5. |
DIRECT LABOR |
|
|
|
|
|
|
|
|
| ||||
|
6. |
DIRECT OVERHEAD (LOE) |
|
$ |
279,225 |
|
$ |
415,486 |
|
|
|
|
| ||
|
7. |
TOTAL COST OF GOODS SOLD |
|
$ |
279,225 |
|
$ |
415,486 |
|
$ |
0 |
|
$ |
0 |
|
|
8. |
GROSS PROFIT |
|
$ |
855,775 |
|
$ |
525,014 |
|
$ |
0 |
|
$ |
0 |
|
|
OPERATING EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
9. |
OFFICER / INSIDER COMPENSATION |
|
|
|
|
|
|
|
|
| ||||
|
10. |
SELLING & MARKETING |
|
|
|
|
|
|
|
|
| ||||
|
11. |
GENERAL & ADMINISTRATIVE |
|
$ |
12,330 |
|
$ |
31,351 |
|
|
|
|
| ||
|
12. |
RENT & LEASE |
|
$ |
1,775 |
|
$ |
2,126 |
|
|
|
|
| ||
|
13. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
14. |
TOTAL OPERATING EXPENSES |
|
$ |
14,105 |
|
$ |
33,477 |
|
$ |
0 |
|
$ |
0 |
|
|
15. |
INCOME BEFORE NON-OPERATING INCOME & EXPENSE |
|
$ |
841,670 |
|
$ |
491,537 |
|
$ |
0 |
|
$ |
0 |
|
|
OTHER INCOME & EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
16. |
NON-OPERATING INCOME (ATT. LIST) |
|
|
|
|
|
|
|
|
| ||||
|
17. |
NON-OPERATING EXPENSE (ATT. LIST) |
|
|
|
|
|
|
|
|
| ||||
|
18. |
INTEREST EXPENSE |
|
$ |
9,639 |
|
$ |
31,977 |
|
|
|
|
| ||
|
19. |
DEPRECIATION / DEPLETION |
|
$ |
201,413 |
|
$ |
200,390 |
|
|
|
|
| ||
|
20. |
AMORTIZATION |
|
|
|
|
|
|
|
|
| ||||
|
21. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
22. |
NET OTHER INCOME & EXPENSES |
|
$ |
211,052 |
|
$ |
232,367 |
|
$ |
0 |
|
$ |
0 |
|
|
REORGANIZATION EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
23. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
24. |
U.S. TRUSTEE FEES |
|
$ |
1,950 |
|
$ |
0 |
|
|
|
|
| ||
|
25. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
26. |
TOTAL REORGANIZATION EXPENSES |
|
$ |
1,950 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
27. |
INCOME TAX |
|
|
|
|
|
|
|
|
| ||||
|
28. |
NET PROFIT (LOSS) |
|
$ |
628,668 |
|
$ |
259,170 |
|
$ |
0 |
|
$ |
0 |
|
(1) Fee for W.O Operating Company Inc. at $975.00, fee for W.O Energy, Inc. at $325.00, fee for W.O. Energy of Nevada, Inc. at $325.00 and fee for W.O. Production Company at $325.00. These companies are linked to W.O. Operating Company, Inc. but have no bank accounts of their own from which to pay fees.
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: W.O. Operating Company, Ltd. |
ACCRUAL BASIS-3 |
|
|
|
|
CASE NUMBER: 12-31556-bjh-11 |
|
|
|
|
MONTH |
|
MONTH |
|
MONTH |
|
QUARTER |
| |||||
|
|
|
3/8/2012 to 3/31/2012 |
|
April 2012 |
|
|
|
TOTAL |
| |||||
|
CASH RECEIPTS AND DISBURSEMENTS |
|
|
|
|
|
|
|
|
| |||||
|
1. |
CASH - BEGINNING OF MONTH |
|
$ |
0 |
|
$ |
617,843 |
|
|
|
|
| ||
|
RECEIPTS FROM OPERATIONS |
|
|
|
|
|
|
|
|
| |||||
|
2. |
CASH SALES |
|
|
|
|
|
|
|
|
| ||||
|
COLLECTION OF ACCOUNTS RECEIVABLE |
|
|
|
|
|
|
|
|
| |||||
|
3. |
PREPETITION |
|
$ |
701,919 |
|
|
|
|
|
|
| |||
|
4. |
POSTPETITION |
|
|
|
$ |
1,395,467 |
|
|
|
|
| |||
|
5. |
TOTAL OPERATING RECEIPTS |
|
$ |
701,919 |
|
$ |
1,395,467 |
|
$ |
0 |
|
$ |
0 |
|
|
NON-OPERATING RECEIPTS |
|
|
|
|
|
|
|
|
| |||||
|
6. |
LOANS & ADVANCES (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
7. |
SALE OF ASSETS |
|
|
|
|
|
|
|
|
| ||||
|
8. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
9. |
TOTAL NON-OPERATING RECEIPTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
10. |
TOTAL RECEIPTS |
|
$ |
701,919 |
|
$ |
1,395,467 |
|
$ |
0 |
|
$ |
0 |
|
|
11. |
TOTAL CASH AVAILABLE |
|
$ |
701,919 |
|
$ |
2,013,310 |
|
$ |
0 |
|
$ |
0 |
|
|
OPERATING DISBURSEMENTS |
|
|
|
|
|
|
|
|
| |||||
|
12. |
NET PAYROLL |
|
$ |
39,588 |
|
$ |
88,291 |
|
|
|
|
| ||
|
13. |
PAYROLL TAXES PAID |
|
$ |
2,916 |
|
$ |
5,592 |
|
|
|
|
| ||
|
14. |
SALES, USE & OTHER TAXES PAID (3) |
|
|
|
$ |
25,278 |
|
|
|
|
| |||
|
15. |
SECURED / RENTAL / LEASES |
|
|
|
$ |
1,875 |
|
|
|
|
| |||
|
16. |
UTILITIES (2) |
|
$ |
923 |
|
$ |
133,325 |
|
|
|
|
| ||
|
17. |
INSURANCE |
|
|
|
|
|
|
|
|
| ||||
|
18. |
INVENTORY PURCHASES |
|
|
|
|
|
|
|
|
| ||||
|
19. |
VEHICLE EXPENSES |
|
$ |
402 |
|
$ |
592 |
|
|
|
|
| ||
|
20. |
TRAVEL |
|
|
|
|
|
|
|
|
| ||||
|
21. |
ENTERTAINMENT |
|
|
|
|
|
|
|
|
| ||||
|
22. |
REPAIRS & MAINTENANCE |
|
$ |
40,247 |
|
$ |
102 |
|
|
|
|
| ||
|
23. |
SUPPLIES |
|
|
|
$ |
107 |
|
|
|
|
| |||
|
24. |
ADVERTISING |
|
|
|
|
|
|
|
|
| ||||
|
25. |
OTHER (MOR-3 Exhibit A) |
|
|
|
$ |
146,680 |
|
|
|
|
| |||
|
26. |
TOTAL OPERATING DISBURSEMENTS |
|
$ |
84,077 |
|
$ |
401,842 |
|
$ |
0 |
|
$ |
0 |
|
|
REORGANIZATION EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
27. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
28. |
U.S. TRUSTEE FEES(1) |
|
|
|
|
|
|
|
|
| ||||
|
29. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
30. |
TOTAL REORGANIZATION EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
31. |
TOTAL DISBURSEMENTS |
|
$ |
84,077 |
|
$ |
401,842 |
|
$ |
0 |
|
$ |
0 |
|
|
32. |
NET CASH FLOW |
|
$ |
617,843 |
|
$ |
993,625 |
|
$ |
0 |
|
$ |
0 |
|
|
33. |
CASH - END OF MONTH (1) |
|
$ |
617,843 |
|
$ |
1,611,468 |
|
$ |
0 |
|
$ |
0 |
|
Notes:
(1) Exclusive of cash sweep from zero balance accounts to concentration account at cano Petroleum, Inc.
(2) Includes utility deposits of $71,568.59 paid by approved order
(3) Includes $25,212.02 of prepetition severance taxes for Dec-2011 and Jan-2012 sales and $66.00 for a post petition truck tag.
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: W.O. Operating Company, Ltd. |
ACCRUAL BASIS-4 |
|
|
|
|
CASE NUMBER: 12-31556-bjh-11 |
|
|
|
|
SCHEDULE |
|
MONTH |
|
MONTH |
|
MONTH |
| |||||
|
ACCOUNTS RECEIVABLE AGING |
|
AMOUNT |
|
3/31/2012 |
|
April 2012 |
|
|
| |||||
|
1. |
0-30 |
|
$ |
1,133,000 |
|
$ |
1,135,000 |
|
$ |
981,000 |
|
|
| |
|
2. |
31-60 |
|
|
|
|
|
|
|
|
| ||||
|
3. |
61-90 |
|
|
|
|
|
|
|
|
| ||||
|
4. |
91+ |
|
|
|
|
|
|
|
|
| ||||
|
5. |
TOTAL ACCOUNTS RECEIVABLE |
|
$ |
1,133,000 |
|
$ |
1,135,000 |
|
$ |
981,000 |
|
$ |
0 |
|
|
6. |
AMOUNT CONSIDERED UNCOLLECTIBLE |
|
|
|
|
|
|
|
|
| ||||
|
7. |
ACCOUNTS RECEIVABLE (NET) |
|
$ |
1,133,000 |
|
$ |
1,135,000 |
|
$ |
981,000 |
|
$ |
0 |
|
|
AGING OF POSTPETITION TAXES AND PAYABLES (1) |
|
MONTH: |
|
April 2012 |
|
|
|
0-30 |
|
31-60 |
|
61-90 |
|
91+ |
|
|
| ||||||
|
TAXES PAYABLE |
|
DAYS |
|
DAYS |
|
DAYS |
|
DAYS |
|
TOTAL |
| ||||||
|
1. |
FEDERAL |
|
|
|
|
|
|
|
|
|
|
| |||||
|
2. |
STATE |
|
|
|
|
|
|
|
|
|
|
| |||||
|
3. |
LOCAL |
|
|
|
|
|
|
|
|
|
|
| |||||
|
4. |
OTHER (ATTACH LIST) MOR-4a |
|
$ |
39,900 |
|
|
|
|
|
|
|
$ |
39,900 |
| |||
|
5. |
TOTAL TAXES PAYABLE |
|
$ |
39,900 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
39,900 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
6. |
ACCOUNTS PAYABLE |
|
$ |
83,610 |
|
|
|
|
|
|
|
$ |
83,610 |
| |||
|
STATUS OF POSTPETITION TAXES (1) |
|
MONTH: |
|
April 2012 |
|
|
|
BEGINNING |
|
AMOUNT |
|
|
|
ENDING |
| |||||
|
|
|
TAX |
|
WITHHELD AND/ |
|
AMOUNT |
|
TAX |
| |||||
|
|
|
LIABILITY* |
|
OR ACCRUED |
|
PAID |
|
LIABILITY |
| |||||
|
FEDERAL |
|
|
|
|
|
|
|
|
| |||||
|
1. |
WITHHOLDING** |
|
|
|
|
|
|
|
|
| ||||
|
2. |
FICA-EMPLOYEE** |
|
|
|
|
|
|
|
|
| ||||
|
3. |
FICA-EMPLOYER** |
|
|
|
|
|
|
|
|
| ||||
|
4. |
UNEMPLOYMENT |
|
|
|
|
|
|
|
|
| ||||
|
5. |
INCOME |
|
|
|
|
|
|
|
|
| ||||
|
6. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
7. |
TOTAL FEDERAL TAXES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
STATE AND LOCAL |
|
|
|
|
|
|
|
|
| |||||
|
8. |
WITHHOLDING |
|
|
|
|
|
|
|
|
| ||||
|
9. |
SALES |
|
|
|
|
|
|
|
|
| ||||
|
10. |
EXCISE |
|
|
|
|
|
|
|
|
| ||||
|
11. |
UNEMPLOYMENT |
|
|
|
|
|
|
|
|
| ||||
|
12. |
REAL PROPERTY |
|
|
|
|
|
|
|
|
| ||||
|
13. |
PERSONAL PROPERTY |
|
|
|
|
|
|
|
|
| ||||
|
14. |
OTHER (ATTACH LIST) MOR-4b |
|
$ |
39,966 |
|
|
|
$ |
25,278 |
|
|
| ||
|
15. |
TOTAL STATE & LOCAL |
|
$ |
39,966 |
|
$ |
0 |
|
$ |
25,278 |
|
$ |
0 |
|
|
16. |
TOTAL TAXES |
|
$ |
39,966 |
|
$ |
0 |
|
$ |
25,278 |
|
$ |
0 |
|
* The beginning tax liability should represent the liability from the prior month or, if this is the first operating report, the amount should be zero.
** Attach photocopies of IRS Form 6123 or your FTD coupon and payment receipt to verify payment or deposit.
(1) Only taxes paid directly by Cano Petroleum, Inc. and its subsidiaries; taxes paid on their behalf by others (e.g. first purchasers and PEO — Resourcing Edge) ae not shown
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: W.O. Operating Company, Ltd. |
ACCRUAL BASIS-5 |
|
|
|
|
CASE NUMBER: 12-31556-bjh-11 |
|
The debtor in possession must complete the reconciliation below for each bank account, including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc. Accounts with restricted funds should be identified by placing an asterisk next to the account number. Attach additional sheets if necessary.
|
|
|
MONTH: April 1st to April 30th 2012 |
|
BANK RECONCILIATIONS |
|
|
|
|
|
Account #1 |
|
Account #2 |
|
Account #3 |
|
|
| |||||
|
A. BANK: |
|
Bank of Texas N.A |
|
|
|
|
|
|
| |||||
|
B. ACCOUNT NUMBER: |
|
31012159 |
|
|
|
|
|
|
| |||||
|
C. PURPOSE (TYPE): |
|
Checking |
|
|
|
|
|
TOTAL |
| |||||
|
1. |
BALANCE PER BANK STATEMENT |
|
$ |
274,564 |
|
|
|
|
|
$ |
274,564 |
| ||
|
2. |
ADD: TOTAL DEPOSITS NOT CREDITED |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
3. |
SUBTRACT: OUTSTANDING CHECKS |
|
$ |
166,535 |
|
|
|
|
|
$ |
166,535 |
| ||
|
4. |
OTHER RECONCILING ITEMS |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
5. |
MONTH END BALANCE PER BOOKS (1) |
|
$ |
108,030 |
|
$ |
0 |
|
$ |
0 |
|
$ |
108,030 |
|
|
6. |
NUMBER OF LAST CHECK WRITTEN |
|
1005003177 |
|
|
|
|
|
|
| ||||
INVESTMENT ACCOUNTS
|
|
|
DATE OF |
|
TYPE OF |
|
PURCHASE |
|
CURRENT |
| |||
|
BANK, ACCOUNT NAME & NUMBER |
|
PURCHASE |
|
INSTRUMENT |
|
PRICE |
|
VALUE |
| |||
|
7. |
|
|
|
|
|
|
|
|
|
| ||
|
8. |
|
|
|
|
|
|
|
|
|
| ||
|
9. |
|
|
|
|
|
|
|
|
|
| ||
|
10. |
|
|
|
|
|
|
|
|
|
| ||
|
11. |
TOTAL INVESTMENTS |
|
|
|
|
|
$ |
0 |
|
$ |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||
|
CASH |
|
|
|
|
|
|
|
|
| |||
|
|
|
|
|
|
|
|
|
|
|
| ||
|
12. |
CURRENCY ON HAND |
|
|
|
|
|
|
|
$ |
0 |
| |
|
|
|
|
|
|
|
|
|
|
|
| ||
|
13. |
TOTAL CASH - END OF MONTH |
|
|
|
|
|
|
|
$ |
108,030 |
| |
(1) Includes effect of cash sweeps from zero balance accounts to concentration account at Cano Petroleum, Inc.
|
|
|
Monthly Operating Report |
|
|
|
|
|
CASE NAME: W.O. Operating Company, Ltd. |
|
ACCRUAL BASIS-6 |
|
|
|
|
|
CASE NUMBER: 12-31556-bjh-11 |
|
|
|
|
|
|
|
|
|
MONTH: March 8th to March 31st |
PAYMENTS TO INSIDERS AND PROFESSIONALS
OF THE TOTAL DISBURSEMENTS SHOWN FOR THE MONTH, LIST THE AMOUNT PAID TO INSIDERS (AS DEFINED IN SECTION 101 (31) (A)-(F) OF THE U.S. BANKRUPTCY CODE) AND TO PROFESSIONALS. ALSO, FOR PAYMENTS TO INSIDERS, IDENTIFY THE TYPE OF COMPENSATION PAID (e.g. SALARY, BONUS, COMMISSIONS, INSURANCE, HOUSING ALLOWANCE, TRAVEL, CAR ALLOWANCE, ETC.). ATTACH ADDITIONAL SHEETS IF NECESSARY.
|
INSIDERS | ||||||||||
|
|
|
|
|
|
|
|
| |||
|
|
|
TYPE OF |
|
AMOUNT |
|
TOTAL PAID |
| |||
|
NAME |
|
PAYMENT |
|
PAID |
|
TO DATE |
| |||
|
1. |
|
|
|
|
|
|
|
| ||
|
2. |
|
|
|
|
|
|
|
| ||
|
3. |
|
|
|
|
|
|
|
| ||
|
4. |
|
|
|
|
|
|
|
| ||
|
5. |
|
|
|
|
|
|
|
| ||
|
6. |
TOTAL PAYMENTS TO INSIDERS |
|
$ |
0 |
|
$ |
0 |
| ||
|
PROFESSIONALS | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
|
|
DATE OF COURT |
|
|
|
|
|
|
|
TOTAL |
| |||||
|
|
|
ORDER AUTHORIZING |
|
AMOUNT |
|
AMOUNT |
|
TOTAL PAID |
|
INCURRED |
| |||||
|
NAME |
|
PAYMENT |
|
APPROVED |
|
PAID |
|
TO DATE |
|
& UNPAID * |
| |||||
|
1. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
2. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
3. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
4. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
5. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
6. |
TOTAL PAYMENTS TO PROFESSIONALS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| ||
* INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
|
|
|
SCHEDULED |
|
AMOUNTS |
|
|
| ||||
|
|
|
MONTHLY |
|
PAID |
|
TOTAL |
| ||||
|
|
|
PAYMENTS |
|
DURING |
|
UNPAID |
| ||||
|
NAME OF CREDITOR |
|
DUE |
|
MONTH |
|
POSTPETITION |
| ||||
|
1. |
Scott White |
|
$ |
887 |
|
$ |
887 |
|
$ |
0 |
|
|
2. |
Miles O’ Loghlin |
|
$ |
887 |
|
$ |
887 |
|
$ |
0 |
|
|
3. |
Xerox Corporation |
|
$ |
100 |
|
$ |
100 |
|
$ |
0 |
|
|
4. |
|
|
|
|
|
|
$ |
0 |
| ||
|
5. |
|
|
|
|
|
|
|
| |||
|
6. |
TOTAL |
|
$ |
1,874 |
|
$ |
1,874 |
|
$ |
0 |
|
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: W.O. Operating Company, Ltd. |
ACCRUAL BASIS-7 |
|
|
|
|
CASE NUMBER: 12-31556-bjh-11 |
|
|
|
|
|
MONTH: |
March 8th to March 31st, 2012 |
QUESTIONNAIRE
|
|
|
|
|
YES |
|
NO |
|
1. |
|
HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? |
|
|
|
X |
|
2. |
|
HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? |
|
|
|
X |
|
3. |
|
ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? |
|
|
|
X |
|
4. |
|
HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? |
|
X |
|
|
|
5. |
|
HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? |
|
|
|
X |
|
6. |
|
ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? |
|
|
|
X |
|
7. |
|
ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? |
|
|
|
X |
|
8. |
|
ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? |
|
|
|
X |
|
9. |
|
ARE ANY OTHER POSTPETITION TAXES PAST DUE? |
|
|
|
X |
|
10. |
|
ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? |
|
|
|
X |
|
11. |
|
HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? |
|
X |
|
|
|
12. |
|
ARE ANY WAGE PAYMENTS PAST DUE? |
|
|
|
X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “YES,” PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
Royalties and severance tax paid in accordance with court order
INSURANCE
|
|
|
|
|
YES |
|
NO |
|
1. |
|
ARE WORKER’S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? |
|
X |
|
|
|
2. |
|
ARE ALL PREMIUM PAYMENTS PAID CURRENT? |
|
X |
|
|
|
3. |
|
PLEASE ITEMIZE POLICIES BELOW. |
|
|
|
|
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “NO,” OR IF ANY POLICIES HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSTALLMENT PAYMENTS
|
TYPE OF |
|
|
|
|
|
PAYMENT AMOUNT |
|
POLICY |
|
CARRIER |
|
PERIOD COVERED |
|
& FREQUENCY |
|
General Liability Insurance |
|
ACE American Insurance |
|
8/16/2011 to 8/16/2012 |
|
$39,452.99 paid monthly |
|
Business Auto |
|
ACE American Insurance |
|
8/16/2011 to 8/16/2012 |
|
to Premium Assignment |
|
Umbrella |
|
ACE Property & Casualty |
|
8/16/2011 to 8/16/2012 |
|
Corporation. |
|
Umbrella Extension |
|
Gotham Insurance Company |
|
8/16/2011 to 8/16/2012 |
|
1 payment remains at |
|
Marine Insurance |
|
AGCS Marine Insurance Co. |
|
8/16/2011 to 8/16/2012 |
|
4/30/2012 |
|
COW |
|
Lloyds of London |
|
8/16/2011 to 8/16/2012 |
|
|
MOR-1a
|
|
|
$ |
|
|
1160000000 Intercompany Receivable/Payable Account |
|
(39,380,182.48 |
) |
|
1160001001 Intercompany Receivable/Payable CC 1001 |
|
6,715,040.65 |
|
|
1160001003 Intercompany Receivable/Payable CC 1003 |
|
1,581.28 |
|
|
1160001004 Intercompany Receivable/Payable CC 1004 |
|
(17,152.07 |
) |
|
1160001010 Intercompany Receivable/Payable CC 1010 |
|
88,658.92 |
|
|
|
|
(32,592,053.70 |
) |
MOR-1b
|
4700000000 Deferred Tax Liability |
|
(33,149,691.98 |
) |
|
4800000000 Asset Retirement Obligation Long Term |
|
(1,645,725.38 |
) |
|
|
|
(34,795,417.36 |
) |
MOR-1c
|
Adjustments to inter company |
|
167,986.00 |
|
|
Change in other liabilities |
|
13,102.00 |
|
|
Total |
|
181,088.00 |
|
MOR-3a
|
Holman Well Service |
|
112,227.00 |
|
|
Midwest Compressor |
|
9,541.25 |
|
|
WB Supply |
|
6,984.24 |
|
|
Phillips 66 - Conoco 76 |
|
5,165.89 |
|
|
Monkey Wrench |
|
4,696.22 |
|
|
NGS Inc |
|
2,257.40 |
|
|
Performance Chemical |
|
2,232.66 |
|
|
Master Pump |
|
1,165.13 |
|
|
Multi Chem Group |
|
1,038.44 |
|
|
Unifirst Corporation |
|
693.21 |
|
|
B&G Electric Pampa |
|
380.99 |
|
|
Biotech |
|
157.50 |
|
|
Global Tower |
|
140.00 |
|
|
|
|
|
|
|
LOE TOTAL |
|
146,679.93 |
|
MOR-4a
|
March Severance taxes payable |
|
23,900.00 |
| |
|
April Severance taxes payable |
|
16,000.00 |
| |
|
Total |
|
$ |
39,900.00 |
|
MOR-4b
|
Gaye Whitehead Tax Assessor |
|
66.00 |
|
Post petition truck tag |
|
|
Texas State Comptroller |
|
39,900.00 |
|
Estimated March and April Severance Taxes |
|
|
|
|
39,966.00 |
|
|
|
Exhibit 99.9
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: W.O. Production Company, Ltd. |
ACCRUAL BASIS |
|
|
|
|
CASE NUMBER: 12-31557-bjh -1 |
|
|
|
|
|
JUDGE: Barbara J. Houser |
|
UNITED STATES BANKRUPTCY COURT
NORTHERN AND EASTERN
DISTRICT OF
TEXAS
DIVISION 6
MONTHLY OPERATING REPORT
MONTH ENDING: April 30th, 2012
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY): IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
|
RESPONSIBLE PARTY: |
|
|
|
|
|
|
|
/s/ John H. Homier |
|
CFO |
|
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY |
|
TITLE |
|
|
|
|
|
John H. Homier |
|
5/21/2012 |
|
PRINTED NAME OF RESPONSIBLE PARTY |
|
DATE |
|
|
|
|
|
|
|
|
|
PREPARER: |
|
|
|
|
|
|
|
/s/ Adrian Lamberti |
|
Controller |
|
ORIGINAL SIGNATURE OF PREPARER |
|
TITLE |
|
|
|
|
|
Adrian Lamberti |
|
5/21/2012 |
|
PRINTED NAME OF PREPARER |
|
DATE |
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: W.O. Production Company, Ltd. |
ACCRUAL BASIS-1 |
|
|
|
|
CASE NUMBER: 12-31557-bjh-11 |
|
COMPARATIVE BALANCE SHEET
|
|
|
SCHEDULE |
|
MONTH |
|
MONTH |
|
MONTH |
| |||||
|
|
|
AMOUNT |
|
3/31/2012 |
|
April 2012 |
|
|
| |||||
|
ASSETS |
|
|
|
|
|
|
|
|
| |||||
|
1. |
UNRESTRICTED CASH |
|
|
|
|
|
|
|
|
| ||||
|
2. |
RESTRICTED CASH |
|
|
|
|
|
|
|
|
| ||||
|
3. |
TOTAL CASH |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
4. |
ACCOUNTS RECEIVABLE (NET) |
|
|
|
|
|
|
|
|
| ||||
|
5. |
INVENTORY |
|
|
|
|
|
|
|
|
| ||||
|
6. |
NOTES RECEIVABLE |
|
|
|
|
|
|
|
|
| ||||
|
7. |
PREPAID EXPENSES |
|
|
|
|
|
|
|
|
| ||||
|
8. |
OTHER (1) |
|
$ |
250,000 |
|
|
|
|
|
|
| |||
|
9. |
TOTAL CURRENT ASSETS |
|
$ |
250,000 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
10. |
PROPERTY, PLANT & EQUIPMENT |
|
|
|
|
|
|
|
|
| ||||
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
11. |
LESS: ACCUMULATED DEPRECIATION / DEPLETION |
|
|
|
|
|
|
|
|
| ||||
|
12. |
NET PROPERTY, PLANT & EQUIPMENT |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
13. |
DUE FROM INSIDERS |
|
|
|
|
|
|
|
|
| ||||
|
14. |
OTHER ASSETS — NET OF AMORTIZATION (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
15. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
16. |
TOTAL ASSETS |
|
$ |
250,000 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
POSTPETITION LIABILITIES |
|
|
|
|
|
|
|
|
| |||||
|
17. |
ACCOUNTS PAYABLE |
|
|
|
|
|
|
|
|
| ||||
|
18. |
TAXES PAYABLE |
|
|
|
|
|
|
|
|
| ||||
|
19. |
NOTES PAYABLE |
|
|
|
|
|
|
|
|
| ||||
|
20. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
21. |
SECURED DEBT |
|
|
|
|
|
|
|
|
| ||||
|
22. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
23. |
TOTAL POSTPETITION LIABILITIES |
|
|
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| |
|
PREPETITION LIABILITIES |
|
|
|
|
|
|
|
|
| |||||
|
24. |
SECURED DEBT (2) |
|
$ |
80,995,000 |
|
|
|
|
|
|
| |||
|
25. |
PRIORITY DEBT |
|
|
|
|
|
|
|
|
| ||||
|
26. |
UNSECURED DEBT |
|
|
|
|
|
|
|
|
| ||||
|
27. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
28. |
TOTAL PREPETITION LIABILITIES |
|
$ |
80,995,000 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
29. |
TOTAL LIABILITIES |
|
$ |
80,995,000 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
EQUITY |
|
|
|
|
|
|
|
|
| |||||
|
30. |
PREPETITION OWNERS’ EQUITY |
|
|
|
|
|
|
|
|
| ||||
|
31. |
POSTPETITION CUMULATIVE PROFIT OR (LOSS) |
|
|
|
|
|
|
|
|
| ||||
|
32. |
DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) |
|
|
|
|
|
|
|
|
| ||||
|
33. |
TOTAL EQUITY |
|
$ |
(80,745,000 |
) |
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
34. |
TOTAL LIABILITIES & OWNERS’ EQUITY |
|
$ |
250,000 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
|
(1) Consolidated retainer for Cano Petroleum, Inc. and its related debtor entities |
|
|
(2) For balance sheet purposes, the secured debt for Cano Petroleum, Inc. and its subsidiaries is carried in total by Cano Petroleum, Inc. |
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: W.O. Production Company, Ltd. |
ACCRUAL BASIS-2 |
|
|
|
|
CASE NUMBER: 12-31557-bjh-11 |
|
INCOME STATEMENT
|
|
|
|
MONTH |
|
MONTH |
|
MONTH |
|
MONTH |
| ||||
|
|
|
|
3/8/2012 to 3/31/2012 |
|
April 2012 |
|
|
|
|
| ||||
|
REVENUES |
|
|
|
|
|
|
|
|
| |||||
|
1. |
GROSS REVENUES |
|
|
|
|
|
|
|
|
| ||||
|
2. |
LESS: RETURNS & DISCOUNTS |
|
|
|
|
|
|
|
|
| ||||
|
3. |
NET REVENUE |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
COST OF GOODS SOLD |
|
|
|
|
|
|
|
|
| |||||
|
4. |
MATERIAL |
|
|
|
|
|
|
|
|
| ||||
|
5. |
DIRECT LABOR |
|
|
|
|
|
|
|
|
| ||||
|
6. |
DIRECT OVERHEAD |
|
|
|
|
|
|
|
|
| ||||
|
7. |
TOTAL COST OF GOODS SOLD |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
8. |
GROSS PROFIT |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
OPERATING EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
9. |
OFFICER / INSIDER COMPENSATION |
|
|
|
|
|
|
|
|
| ||||
|
10. |
SELLING & MARKETING |
|
|
|
|
|
|
|
|
| ||||
|
11. |
GENERAL & ADMINISTRATIVE |
|
|
|
|
|
|
|
|
| ||||
|
12. |
RENT & LEASE |
|
|
|
|
|
|
|
|
| ||||
|
13. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
14. |
TOTAL OPERATING EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
15. |
INCOME BEFORE NON-OPERATING INCOME & EXPENSE |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
OTHER INCOME & EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
16. |
NON-OPERATING INCOME (ATT. LIST) |
|
|
|
|
|
|
|
|
| ||||
|
17. |
NON-OPERATING EXPENSE (ATT. LIST) |
|
|
|
|
|
|
|
|
| ||||
|
18. |
INTEREST EXPENSE |
|
|
|
|
|
|
|
|
| ||||
|
19. |
DEPRECIATION / DEPLETION |
|
|
|
|
|
|
|
|
| ||||
|
20. |
AMORTIZATION |
|
|
|
|
|
|
|
|
| ||||
|
21. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
22. |
NET OTHER INCOME & EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
REORGANIZATION EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
23. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
24. |
U.S. TRUSTEE FEES (1) |
|
|
|
|
|
|
|
|
| ||||
|
25. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
26. |
TOTAL REORGANIZATION EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
27. |
INCOME TAX |
|
|
|
|
|
|
|
|
| ||||
|
28. |
NET PROFIT (LOSS) |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
Note 1 - This fee is being paid by W.O. Operating Company, Ltd as this company has no bank account or accounting system to record and make payments.
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: W.O. Production Company, Ltd. |
ACCRUAL BASIS-3 |
|
|
|
|
CASE NUMBER: 12-31557-bjh-11 |
|
|
|
|
|
MONTH |
|
MONTH |
|
MONTH |
|
QUARTER |
| ||||
|
|
|
|
3/8/2012 to 3/31/2012 |
|
April 2012 |
|
|
|
TOTAL |
| ||||
|
CASH RECEIPTS AND DISBURSEMENTS |
|
|
|
|
|
|
|
|
| |||||
|
1. |
CASH - BEGINNING OF MONTH |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
| |
|
RECEIPTS FROM OPERATIONS |
|
|
|
|
|
|
|
|
| |||||
|
2. |
CASH SALES |
|
|
|
|
|
|
|
|
| ||||
|
COLLECTION OF ACCOUNTS RECEIVABLE |
|
|
|
|
|
|
|
|
| |||||
|
3. |
PREPETITION |
|
|
|
|
|
|
|
|
| ||||
|
4. |
POSTPETITION |
|
|
|
|
|
|
|
|
| ||||
|
5. |
TOTAL OPERATING RECEIPTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
NON-OPERATING RECEIPTS |
|
|
|
|
|
|
|
|
| |||||
|
6. |
LOANS & ADVANCES (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
7. |
SALE OF ASSETS |
|
|
|
|
|
|
|
|
| ||||
|
8. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
9. |
TOTAL NON-OPERATING RECEIPTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
10. |
TOTAL RECEIPTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
11. |
TOTAL CASH AVAILABLE |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
OPERATING DISBURSEMENTS |
|
|
|
|
|
|
|
|
| |||||
|
12. |
NET PAYROLL |
|
|
|
|
|
|
|
|
| ||||
|
13. |
PAYROLL TAXES PAID |
|
|
|
|
|
|
|
|
| ||||
|
14. |
SALES, USE & OTHER TAXES PAID |
|
|
|
|
|
|
|
|
| ||||
|
15. |
SECURED / RENTAL / LEASES |
|
|
|
|
|
|
|
|
| ||||
|
16. |
UTILITIES |
|
|
|
|
|
|
|
|
| ||||
|
17. |
INSURANCE |
|
|
|
|
|
|
|
|
| ||||
|
18. |
INVENTORY PURCHASES |
|
|
|
|
|
|
|
|
| ||||
|
19. |
VEHICLE EXPENSES |
|
|
|
|
|
|
|
|
| ||||
|
20. |
TRAVEL |
|
|
|
|
|
|
|
|
| ||||
|
21. |
ENTERTAINMENT |
|
|
|
|
|
|
|
|
| ||||
|
22. |
REPAIRS & MAINTENANCE |
|
|
|
|
|
|
|
|
| ||||
|
23. |
SUPPLIES |
|
|
|
|
|
|
|
|
| ||||
|
24. |
ADVERTISING |
|
|
|
|
|
|
|
|
| ||||
|
25. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
26. |
TOTAL OPERATING DISBURSEMENTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
REORGANIZATION EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
27. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
28. |
U.S. TRUSTEE FEES |
|
|
|
|
|
|
|
|
| ||||
|
29. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
30. |
TOTAL REORGANIZATION EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
31. |
TOTAL DISBURSEMENTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
32. |
NET CASH FLOW |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
33. |
CASH - END OF MONTH |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: W.O. Production Company, Ltd. |
ACCRUAL BASIS-4 |
|
|
|
|
CASE NUMBER: 12-31557-bjh-11 |
|
|
|
|
SCHEDULE |
|
MONTH |
|
MONTH |
|
MONTH |
| |||||
|
ACCOUNTS RECEIVABLE AGING |
|
AMOUNT |
|
3/8/12 trhu 3/31/2012 |
|
April 2012 |
|
|
| |||||
|
1. |
0-30 |
|
|
|
|
|
|
|
|
| ||||
|
2. |
31-60 |
|
|
|
|
|
|
|
|
| ||||
|
3. |
61-90 |
|
|
|
|
|
|
|
|
| ||||
|
4. |
91+ |
|
|
|
|
|
|
|
|
| ||||
|
5. |
TOTAL ACCOUNTS RECEIVABLE |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
6. |
AMOUNT CONSIDERED UNCOLLECTIBLE |
|
|
|
|
|
|
|
|
| ||||
|
7. |
ACCOUNTS RECEIVABLE (NET) |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
AGING OF POSTPETITION TAXES AND PAYABLES |
MONTH: |
April 2012 |
|
|
|
0-30 |
|
31-60 |
|
61-90 |
|
91+ |
|
|
| ||||||
|
TAXES PAYABLE |
|
DAYS |
|
DAYS |
|
DAYS |
|
DAYS |
|
TOTAL |
| ||||||
|
1. |
FEDERAL |
|
|
|
|
|
|
|
|
|
|
| |||||
|
2. |
STATE |
|
|
|
|
|
|
|
|
|
|
| |||||
|
3. |
LOCAL |
|
|
|
|
|
|
|
|
|
|
| |||||
|
4. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
|
|
| |||||
|
5. |
TOTAL TAXES PAYABLE |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
6. |
ACCOUNTS PAYABLE |
|
|
|
|
|
|
|
|
|
|
| |||||
|
STATUS OF POSTPETITION TAXES |
MONTH: |
April 2012 |
|
|
|
|
BEGINNING |
|
AMOUNT |
|
|
|
ENDING |
| ||||
|
|
|
TAX |
|
WITHHELD AND/ |
|
AMOUNT |
|
TAX |
| |||||
|
|
|
LIABILITY* |
|
OR ACCRUED |
|
PAID |
|
LIABILITY |
| |||||
|
FEDERAL |
|
|
|
|
|
|
|
|
| |||||
|
1. |
WITHHOLDING** |
|
|
|
|
|
|
|
|
| ||||
|
2. |
FICA-EMPLOYEE** |
|
|
|
|
|
|
|
|
| ||||
|
3. |
FICA-EMPLOYER** |
|
|
|
|
|
|
|
|
| ||||
|
4. |
UNEMPLOYMENT |
|
|
|
|
|
|
|
|
| ||||
|
5. |
INCOME |
|
|
|
|
|
|
|
|
| ||||
|
6. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
7. |
TOTAL FEDERAL TAXES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
STATE AND LOCAL |
|
|
|
|
|
|
|
|
| |||||
|
8. |
WITHHOLDING |
|
|
|
|
|
|
|
|
| ||||
|
9. |
SALES |
|
|
|
|
|
|
|
|
| ||||
|
10. |
EXCISE |
|
|
|
|
|
|
|
|
| ||||
|
11. |
UNEMPLOYMENT |
|
|
|
|
|
|
|
|
| ||||
|
12. |
REAL PROPERTY |
|
|
|
|
|
|
|
|
| ||||
|
13. |
PERSONAL PROPERTY |
|
|
|
|
|
|
|
|
| ||||
|
14. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
15. |
TOTAL STATE & LOCAL |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
16. |
TOTAL TAXES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
* |
The beginning tax liability should represent the liability from the prior month or, if this is the first operating report, the amount should be zero. |
|
** |
Attach photocopies of IRS Form 6123 or your FTD coupon and payment receipt to verify payment or deposit. |
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: W.O. Production Company, Ltd. |
ACCRUAL BASIS-5 |
|
|
|
|
CASE NUMBER: 12-31557-bjh-11 |
|
|
|
|
|
The debtor in possession must complete the reconciliation below for each bank account, including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc. Accounts with restricted funds should be identified by placing an asterisk next to the account number. Attach additional sheets if necessary. | |
|
|
MONTH: |
April 2012 |
BANK RECONCILIATIONS
|
|
|
|
Account #1 |
|
Account #2 |
|
Account #3 |
|
|
| |||
|
A. BANK: |
|
|
|
|
|
|
|
|
| ||||
|
B. ACCOUNT NUMBER: |
|
|
|
|
|
|
|
|
| ||||
|
C. PURPOSE (TYPE): |
|
|
|
|
|
|
|
TOTAL |
| ||||
|
1. |
BALANCE PER BANK STATEMENT |
|
|
|
|
|
|
|
|
| |||
|
2. |
ADD: TOTAL DEPOSITS NOT CREDITED |
|
|
|
|
|
|
|
|
| |||
|
3. |
SUBTRACT: OUTSTANDING CHECKS |
|
|
|
|
|
|
|
|
| |||
|
4. |
OTHER RECONCILING ITEMS |
|
|
|
|
|
|
|
|
| |||
|
5. |
MONTH END BALANCE PER BOOKS |
|
|
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
6. |
NUMBER OF LAST CHECK WRITTEN |
|
|
|
|
|
|
|
|
| |||
INVESTMENT ACCOUNTS
|
|
|
|
DATE OF |
|
TYPE OF |
|
PURCHASE |
|
CURRENT |
| ||
|
BANK, ACCOUNT NAME & NUMBER |
|
PURCHASE |
|
INSTRUMENT |
|
PRICE |
|
VALUE |
| |||
|
7. |
|
|
|
|
|
|
|
|
|
| ||
|
8. |
|
|
|
|
|
|
|
|
|
| ||
|
9. |
|
|
|
|
|
|
|
|
|
| ||
|
10. |
|
|
|
|
|
|
|
|
|
| ||
|
11. |
TOTAL INVESTMENTS |
|
|
|
|
|
$ |
0 |
|
$ |
0 |
|
CASH
|
12. |
CURRENCY ON HAND |
|
|
|
|
|
|
|
$ |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
13. |
TOTAL CASH - END OF MONTH |
|
|
|
|
|
|
|
$ |
0 |
|
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: W.O. Production Company, Ltd. |
ACCRUAL BASIS-6 |
|
|
|
|
CASE NUMBER: 12-31557-bjh-11 |
|
|
|
MONTH: |
April 2012 |
PAYMENTS TO INSIDERS AND PROFESSIONALS
OF THE TOTAL DISBURSEMENTS SHOWN FOR THE MONTH, LIST THE AMOUNT PAID TO INSIDERS (AS DEFINED IN SECTION 101 (31) (A)-(F) OF THE U.S. BANKRUPTCY CODE) AND TO PROFESSIONALS. ALSO, FOR PAYMENTS TO INSIDERS, IDENTIFY THE TYPE OF COMPENSATION PAID (e.g. SALARY, BONUS, COMMISSIONS, INSURANCE, HOUSING ALLOWANCE, TRAVEL, CAR ALLOWANCE, ETC.). ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSIDERS
|
|
|
TYPE OF |
|
AMOUNT |
|
TOTAL PAID |
| |||
|
NAME |
|
PAYMENT |
|
PAID |
|
TO DATE |
| |||
|
1. |
|
|
|
|
|
|
|
| ||
|
2. |
|
|
|
|
|
|
|
| ||
|
3. |
|
|
|
|
|
|
|
| ||
|
4. |
|
|
|
|
|
|
|
| ||
|
5. |
|
|
|
|
|
|
|
| ||
|
6. |
TOTAL PAYMENTS TO INSIDERS |
|
$ |
0 |
|
$ |
0 |
| ||
PROFESSIONALS
|
|
|
DATE OF COURT |
|
|
|
|
|
|
|
TOTAL |
| |||||
|
|
|
ORDER AUTHORIZING |
|
AMOUNT |
|
AMOUNT |
|
TOTAL PAID |
|
INCURRED |
| |||||
|
NAME |
|
PAYMENT |
|
APPROVED |
|
PAID |
|
TO DATE |
|
& UNPAID * |
| |||||
|
1. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
2. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
3. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
4. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
5. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
6. |
TOTAL PAYMENTS TO PROFESSIONALS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
| ||
* INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
|
|
|
SCHEDULED |
|
AMOUNTS |
|
|
| ||||
|
|
|
MONTHLY |
|
PAID |
|
TOTAL |
| ||||
|
|
|
PAYMENTS |
|
DURING |
|
UNPAID |
| ||||
|
NAME OF CREDITOR |
|
DUE |
|
MONTH |
|
POSTPETITION |
| ||||
|
1. |
|
|
|
|
|
|
|
| |||
|
2. |
|
|
|
|
|
|
|
| |||
|
3. |
|
|
|
|
|
|
|
| |||
|
4. |
|
|
|
|
|
|
|
| |||
|
5. |
|
|
|
|
|
|
|
| |||
|
6. |
TOTAL |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: W.O. Production Company, Ltd. |
ACCRUAL BASIS-7 |
|
|
|
|
CASE NUMBER: 12-31557-bjh-11 |
|
|
|
MONTH: |
April 2012 |
QUESTIONNAIRE
|
|
|
YES |
|
NO | |
|
1. |
HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? |
|
|
|
X |
|
2. |
HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? |
|
|
|
X |
|
3. |
ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? |
|
|
|
X |
|
4. |
HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? |
|
|
|
X |
|
5. |
HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? |
|
|
|
X |
|
6. |
ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? |
|
|
|
X |
|
7. |
ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? |
|
|
|
X |
|
8. |
ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? |
|
|
|
X |
|
9. |
ARE ANY OTHER POSTPETITION TAXES PAST DUE? |
|
|
|
X |
|
10. |
ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? |
|
|
|
X |
|
11. |
HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? |
|
|
|
X |
|
12. |
ARE ANY WAGE PAYMENTS PAST DUE? |
|
|
|
X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “YES,” PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSURANCE
|
|
|
YES |
|
NO | |
|
1. |
ARE WORKER’S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? |
|
X |
|
|
|
2. |
ARE ALL PREMIUM PAYMENTS PAID CURRENT? |
|
X |
|
|
|
3. |
PLEASE ITEMIZE POLICIES BELOW. |
|
|
|
|
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “NO,” OR IF ANY POLICIES HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSTALLMENT PAYMENTS
|
TYPE OF |
|
|
|
|
|
PAYMENT AMOUNT |
|
POLICY |
|
CARRIER |
|
PERIOD COVERED |
|
& FREQUENCY |
|
General Liability Insurance |
|
ACE American Insurance |
|
8/16/2011 to 8/16/2012 |
|
$39,452.99 paid monthly |
|
Business Auto |
|
ACE American Insurance |
|
8/16/2011 to 8/16/2012 |
|
to Premium Assignment |
|
Umbrella |
|
ACE Property & Casualty |
|
8/16/2011 to 8/16/2012 |
|
Corporation. |
|
Umbrella Extension |
|
Gotham Insurance Company |
|
8/16/2011 to 8/16/2012 |
|
1 payment remains at |
|
Marine Insurance |
|
AGCS Marine Insurance Co. |
|
8/16/2011 to 8/16/2012 |
|
4/30/2012 |
|
COW |
|
Lloyds of London |
|
8/16/2011 to 8/16/2012 |
|
|