EX-99.3 4 a12-15044_1ex99d3.htm EX-99.3

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: May 31st, 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

 

6/20/2012

PRINTED NAME OF RESPONSIBLE PARTY

 

DATE

 

 

 

 

 

 

PREPARER:

 

 

 

 

 

/s/ Adrian Lamberti

 

Controller

ORIGINAL SIGNATURE OF PREPARER

 

TITLE

 

 

 

Adrian Lamberti

 

6/20/2012

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

 

May 2012

 

ASSETS

 

 

 

 

 

 

 

 

 

1.

UNRESTRICTED CASH

 

 

 

$

394,048

 

$

870,260

 

$

1,252,782

 

2.

RESTRICTED CASH

 

$

0

 

 

 

 

 

 

 

3.

TOTAL CASH

 

$

0

 

$

394,048

 

$

870,260

 

$

1,252,782

 

4.

ACCOUNTS RECEIVABLE (NET)

 

$

343,000

 

$

474,000

 

$

481,000

 

$

415,000

 

5.

INVENTORY (3)

 

$

161,500

 

$

73,738

 

$

67,613

 

$

75,530

 

6.

NOTES RECEIVABLE

 

 

 

 

 

 

 

 

 

7.

PREPAID EXPENSES

 

 

 

$

102,950

 

$

214,429

 

$

199,422

 

8.

OTHER (MOR-1 A)

 

$

275,000

 

$

10,991,517

 

$

11,003,343

 

$

10,841,760

 

9.

TOTAL CURRENT ASSETS

 

$

779,500

 

$

12,036,253

 

$

12,636,645

 

$

12,784,495

 

10.

PROPERTY, PLANT & EQUIPMENT

 

$

752,700

 

$

14,326,615

 

$

14,326,615

 

$

14,326,615

 

11.

LESS: ACCUMULATED DEPRECIATION / DEPLETION

 

 

 

$

2,990,284

 

$

3,016,995

 

$

3,043,707

 

12.

NET PROPERTY, PLANT & EQUIPMENT

 

$

752,700

 

$

11,336,331

 

$

11,309,620

 

$

11,282,908

 

13.

DUE FROM INSIDERS

 

 

 

 

 

 

 

 

 

14.

OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST)

 

 

 

 

 

 

 

 

 

15.

OTHER (ATTACH LIST)

 

 

 

 

 

 

 

 

 

16.

TOTAL ASSETS

 

$

1,532,200

 

$

23,372,584

 

$

23,946,265

 

$

24,067,403

 

 

 

 

 

 

 

 

 

 

 

 

POSTPETITION LIABILITIES

 

 

 

 

 

 

 

 

 

17.

ACCOUNTS PAYABLE

 

 

 

$

38,728

 

$

83,387

 

$

67,558

 

18.

TAXES PAYABLE (3)

 

 

 

$

163

 

$

366

 

$

577

 

19.

NOTES PAYABLE

 

 

 

 

 

 

 

 

 

20.

PROFESSIONAL FEES

 

 

 

 

 

 

 

 

 

21.

SECURED DEBT

 

 

 

 

 

 

 

 

 

22.

OTHER (ATTACH LIST)

 

 

 

 

 

 

 

 

 

23.

TOTAL POSTPETITION LIABILITIES

 

 

 

$

38,891

 

$

83,753

 

$

68,135

 

PREPETITION LIABILITIES

 

 

 

 

 

 

 

 

 

24.

SECURED DEBT (2)

 

$

80,995,000

 

 

 

 

 

 

 

25.

PRIORITY DEBT

 

$

2,509

 

$

2,509

 

$

2,509

 

$

2,509

 

26.

UNSECURED DEBT

 

$

311,930

 

$

311,930

 

$

311,930

 

$

311,930

 

27.

OTHER MOR -1B

 

 

 

$

339,464

 

$

339,464

 

$

339,464

 

28.

TOTAL PREPETITION LIABILITIES

 

$

81,309,440

 

$

653,903

 

$

653,903

 

$

653,903

 

29.

TOTAL LIABILITIES

 

$

81,309,440

 

$

692,794

 

$

737,657

 

$

722,038

 

EQUITY

 

 

 

 

 

 

 

 

 

30.

PREPETITION OWNERS’ EQUITY

 

 

 

$

22,401,652

 

$

22,401,652

 

$

22,401,652

 

31.

POSTPETITION CUMULATIVE PROFIT OR (LOSS)

 

 

 

$

278,138

 

$

806,956

 

$

943,713

 

32.

DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION)

 

 

 

 

 

 

 

 

 

33.

TOTAL EQUITY

 

$

(79,777,240

)

$

22,679,790

 

$

23,208,608

 

$

23,345,365

 

34.

TOTAL LIABILITIES & OWNERS’ EQUITY

 

$

1,532,200

 

$

23,372,584

 

$

23,946,265

 

$

24,067,403

 

 

 

(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.

 

(3)

Estimates

 


 

 

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

 

May 2012

 

 

 

REVENUES

 

 

 

 

 

 

 

 

 

1.

GROSS REVENUES (1)

 

$

472,910

 

$

734,000

 

$

414,000

 

 

 

2.

LESS: RETURNS & DISCOUNTS

 

 

 

 

 

 

 

 

 

3.

NET REVENUE

 

$

472,910

 

$

734,000

 

$

414,000

 

$

0

 

COST OF GOODS SOLD

 

 

 

 

 

 

 

 

 

4.

MATERIAL

 

 

 

 

 

 

 

 

 

5.

DIRECT LABOR (LOE)

 

$

168,563

 

$

173,605

 

$

246,982

 

 

 

6.

DIRECT OVERHEAD

 

 

 

 

 

 

 

 

 

7.

TOTAL COST OF GOODS SOLD

 

$

168,563

 

$

173,605

 

$

246,982

 

$

0

 

8.

GROSS PROFIT

 

$

304,347

 

$

560,395

 

$

167,018

 

$

0

 

OPERATING EXPENSES

 

 

 

 

 

 

 

 

 

9.

OFFICER / INSIDER COMPENSATION

 

 

 

 

 

 

 

 

 

10.

SELLING & MARKETING

 

 

 

 

 

 

 

 

 

11.

GENERAL & ADMINISTRATIVE

 

 

 

$

4,418

 

$

3,097

 

 

 

12.

RENT & LEASE

 

 

 

 

 

 

 

 

 

13.

OTHER (ATTACH LIST)

 

 

 

 

 

 

 

 

 

14.

TOTAL OPERATING EXPENSES

 

$

0

 

$

4,418

 

$

3,097

 

$

0

 

15.

INCOME BEFORE NON-OPERATING INCOME & EXPENSE

 

$

304,347

 

$

555,977

 

$

163,921

 

$

0

 

OTHER INCOME & EXPENSES

 

 

 

 

 

 

 

 

 

16.

NON-OPERATING INCOME (ATT. LIST)

 

 

 

 

 

 

 

 

 

17.

NON-OPERATING EXPENSE (ATT. LIST)

 

 

 

 

 

 

 

 

 

18.

INTEREST EXPENSE

 

$

74

 

$

244

 

$

242

 

 

 

19.

DEPRECIATION / DEPLETION

 

$

25,322

 

$

26,711

 

$

26,712

 

 

 

20.

AMORTIZATION

 

 

 

 

 

 

 

 

 

21.

OTHER (2) (ATTACH LIST) MOR -2A

 

$

163

 

$

204

 

$

210

 

 

 

22.

NET OTHER INCOME & EXPENSES

 

$

25,559

 

$

27,159

 

$

27,164

 

$

0

 

REORGANIZATION EXPENSES

 

 

 

 

 

 

 

 

 

23.

PROFESSIONAL FEES

 

 

 

 

 

 

 

 

 

24.

U.S. TRUSTEE FEES

 

$

650

 

$

0

 

$

0

 

 

 

25.

OTHER (ATTACH LIST)

 

 

 

 

 

 

 

 

 

26.

TOTAL REORGANIZATION EXPENSES

 

$

650

 

$

0

 

$

0

 

$

0

 

27.

INCOME TAX

 

 

 

 

 

 

 

 

 

28.

NET PROFIT (1) (LOSS)

 

$

278,138

 

$

528,818

 

$

136,757

 

$

0

 

 

(1)

Net of royalties, estimated and/ or paid.

(2)

Estimated property taxes.

 


 

 

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

 

May 2012

 

TOTAL

 

CASH RECEIPTS AND DISBURSEMENTS

 

 

 

 

 

 

 

 

 

1.

CASH - BEGINNING OF MONTH

 

$

0

 

$

394,048

 

$

870,260

 

$

0

 

RECEIPTS FROM OPERATIONS

 

 

 

 

 

 

 

 

 

2.

CASH SALES

 

 

 

 

 

 

 

 

 

COLLECTION OF ACCOUNTS RECEIVABLE

 

 

 

 

 

 

 

 

 

3.

PREPETITION

 

$

437,113

 

 

 

 

 

$

437,113

 

4.

POSTPETITION

 

 

 

$

729,868

 

$

674,684

 

$

1,404,552

 

5.

TOTAL OPERATING RECEIPTS

 

$

437,113

 

$

729,868

 

$

674,684

 

$

1,841,665

 

NON-OPERATING RECEIPTS

 

 

 

 

 

 

 

 

 

6.

LOANS & ADVANCES (ATTACH LIST)

 

 

 

 

 

 

 

$

0

 

7.

SALE OF ASSETS

 

 

 

 

 

 

 

$

0

 

8.

OTHER (ATTACH LIST)

 

 

 

 

 

 

 

$

0

 

9.

TOTAL NON-OPERATING RECEIPTS

 

$

0

 

$

0

 

$

0

 

$

0

 

10.

TOTAL RECEIPTS

 

$

437,113

 

$

729,868

 

$

674,684

 

$

1,841,665

 

11.

TOTAL CASH AVAILABLE

 

$

437,113

 

$

1,123,916

 

$

1,544,944

 

$

1,841,665

 

OPERATING DISBURSEMENTS

 

 

 

 

 

 

 

 

 

12.

NET PAYROLL

 

$

8,057

 

$

18,993

 

$

18,894

 

$

45,944

 

13.

PAYROLL TAXES PAID

 

$

670

 

$

1,407

 

$

1,362

 

$

3,438

 

14.

SALES, USE & OTHER TAXES PAID

 

$

517

 

$

63

 

$

78

 

$

658

 

15.

SECURED / RENTAL / LEASES

 

 

 

 

 

 

 

$

0

 

16.

UTILITIES (2)

 

$

161

 

$

155,164

 

$

128,619

 

$

283,945

 

17.

INSURANCE

 

 

 

 

 

 

 

$

0

 

18.

INVENTORY PURCHASES

 

 

 

 

 

 

 

$

0

 

19.

VEHICLE EXPENSES

 

$

836

 

 

 

 

 

$

836

 

20.

TRAVEL

 

 

 

 

 

 

 

$

0

 

21.

ENTERTAINMENT

 

 

 

 

 

 

 

$

0

 

22.

REPAIRS & MAINTENANCE

 

$

30,154

 

$

751

 

$

60

 

$

30,966

 

23.

SUPPLIES

 

 

 

$

88

 

 

 

$

88

 

24.

ADVERTISING

 

 

 

 

 

 

 

$

0

 

25.

OTHER (3) (MOR-3A)

 

$

2,668

 

$

77,189

 

$

142,498

 

$

222,356

 

26.

TOTAL OPERATING DISBURSEMENTS

 

$

43,065

 

$

253,656

 

$

291,512

 

$

588,232

 

REORGANIZATION EXPENSES

 

 

 

 

 

 

 

 

 

27.

PROFESSIONAL FEES

 

 

 

 

 

 

 

$

0

 

28.

U.S. TRUSTEE FEES

 

 

 

 

 

$

650

 

$

650

 

29.

OTHER (ATTACH LIST)

 

 

 

 

 

 

 

$

0

 

30.

TOTAL REORGANIZATION EXPENSES

 

$

0

 

$

0

 

$

650

 

$

650

 

31.

TOTAL DISBURSEMENTS

 

$

43,065

 

$

253,656

 

$

292,162

 

$

588,882

 

32.

NET CASH FLOW

 

$

394,048

 

$

476,212

 

$

382,522

 

$

1,252,782

 

33.

CASH - END OF MONTH (1)

 

$

394,048

 

$

870,260

 

$

1,252,782

 

$

1,252,782

 

 

 

(1)

Exclusive of cash sweep from zero balance accounts to concentration account at Cano Petroleum, Inc.

 

(2)

April total includes Utility deposits of $ 126,003

 

(3)

Including royalties, estimated and/ or paid.

 


 

 

Monthly Operating Report

 

 

CASE NAME: Ladder Companies, Inc.

ACCRUAL BASIS-4

 

 

CASE NUMBER:  12-31551-bjh-11

 

 

 

 

SCHEDULE

 

MONTH

 

MONTH

 

MONTH

 

ACCOUNTS RECEIVABLE AGING

 

AMOUNT

 

3/31/2012

 

April 2012

 

May 2012

 

1.

0-30

 

$

343,000

 

$

474,000

 

$

481,000

 

$

415,000

 

2.

31-60

 

 

 

 

 

 

 

 

 

3.

61-90

 

 

 

 

 

 

 

 

 

4.

91+

 

 

 

 

 

 

 

 

 

5.

TOTAL ACCOUNTS RECEIVABLE

 

$

343,000

 

$

474,000

 

$

481,000

 

$

415,000

 

6.

AMOUNT CONSIDERED UNCOLLECTIBLE

 

 

 

 

 

 

 

 

 

7.

ACCOUNTS RECEIVABLE (NET)

 

$

343,000

 

$

474,000

 

$

481,000

 

$

415,000

 

 

AGING OF POSTPETITION TAXES AND PAYABLES (1)

MONTH:

May 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

 

$

67,558

 

 

 

 

 

 

 

$

67,558

 

 

STATUS OF POSTPETITION TAXES (1)

MONTH:

May 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

 

$

366

 

$

210

 

 

 

$

577

 

13.

PERSONAL PROPERTY

 

 

 

 

 

 

 

 

 

14.

OTHER (ATTACH LIST)

 

$

78

 

 

 

$

78

 

$

0

 

15.

TOTAL STATE & LOCAL

 

$

445

 

$

210

 

$

78

 

$

577

 

16.

TOTAL TAXES

 

$

445

 

$

210

 

$

78

 

$

577

 

 

*                 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:

May 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

 

$

0

 

$

0

 

 

 

$

0

 

2.

ADD: TOTAL DEPOSITS NOT CREDITED

 

 

 

 

 

 

 

$

0

 

3.

SUBTRACT: OUTSTANDING CHECKS

 

333.93

 

9,279.68

 

 

 

$

9,614

 

4.

OTHER RECONCILING ITEMS

 

 

 

 

 

 

 

$

0

 

5.

MONTH END BALANCE PER BOOKS (1)

 

$

(334

)

$

(9,280

)

$

0

 

$

(9,614

)

6.

NUMBER OF LAST CHECK WRITTEN

 

1011000571

 

1003001421

 

 

 

 

 

 

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

 

$

(9,614

)

 

(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:    May 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: May 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

 

Fully paid at the time

Business Auto

 

ACE American Insurance

 

8/16/2011 to 8/16/2012

 

of preparation

Umbrella

 

ACE Property & Casualty

 

8/16/2011 to 8/16/2012

 

 

Umbrella Extension

 

Gotham Insurance Company

 

8/16/2011 to 8/16/2012

 

 

Marine Insurance

 

AGCS Marine Insurance Co.

 

8/16/2011 to 8/16/2012

 

 

COW

 

Lloyds of London

 

8/16/2011 to 8/16/2012

 

 

 


 

MOR-1 A

 

March Inter company

 

1160000000 Intercompany Receivable/Payable Account

 

(547,073

)

1160001001 Intercompany Receivable/Payable CC 1001

 

11,647,499

 

1160001003 Intercompany Receivable/Payable CC 1003

 

1,221

 

1160001004 Intercompany Receivable/Payable CC 1004

 

898

 

1160001005 Intercompany Receivable/Payable CC 1005

 

(3,355

)

1160001011 Intercompany Receivable/Payable CC 1011

 

(1,221

)

Intercompany Adjustment

 

(106,452

)

 

 

10,991,517

 

 

April Inter company

 

1160000000 Intercompany Receivable/Payable Account

 

(547,073

)

1160001001 Intercompany Receivable/Payable CC 1001

 

11,647,499

 

1160001003 Intercompany Receivable/Payable CC 1003

 

1,221

 

1160001004 Intercompany Receivable/Payable CC 1004

 

898

 

1160001005 Intercompany Receivable/Payable CC 1005

 

(3,355

)

1160001011 Intercompany Receivable/Payable CC 1011

 

(1,221

)

Intercompany Adjustment

 

(94,626

)

 

 

11,003,343

 

 

May Inter company

 

1160000000 Intercompany Receivable/Payable Account

 

(547,073

)

1160001001 Intercompany Receivable/Payable CC 1001

 

11,647,499

 

1160001003 Intercompany Receivable/Payable CC 1003

 

1,221

 

1160001004 Intercompany Receivable/Payable CC 1004

 

898

 

1160001005 Intercompany Receivable/Payable CC 1005

 

(3,355

)

1160001011 Intercompany Receivable/Payable CC 1011

 

(1,221

)

Intercompany Adjustment

 

(256,209

)

 

 

10,841,760

 

 


 

MOR-1 B

 

PREPETITION

 

3800000000 Asset Retirement Obligation Short Term

 

(5,476

)

4800000000 Asset Retirement Obligation Long Term

 

(333,988

)

 

 

(339,464

)

 


 

MOR - 2A

 

Ad Valorem Taxes

 

March Ad Valorem Tax estimate

 

163

 

 

 

 

 

April Ad Valorem Tax estimate

 

204

 

 

 

 

 

May Ad Valorem Tax estimate

 

210

 

 

 

 

 

 

 

577

 

 


 

MOR-3 A

 

March 2012

 

LOE General

 

0

 

Royalty Checks - Dec 2011 & Jan 2012 Sales

 

2,668

 

 

 

2,668

 

 

April 2012

 

LOE General

 

76,272

 

Royalty Checks - Feb 2012 Sales

 

917

 

 

 

77,189

 

 

May 2012

 

LOE General

 

141,408

 

Royalty Checks - Mar 2012 Sales

 

1,090

 

 

 

 

 

LOE TOTAL LOE EXPENSES

 

142,498