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)
July 20, 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 |
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(Commission |
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(IRS Employer |
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6500 North Belt Line Road, |
75063 |
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(Address of principal executive |
(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 July 20, 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 June 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 June 30, 2012 for Cano Petroleum, Inc.
99.2 Monthly Operating Report for the month ended June 30, 2012 for Cano Petro of New Mexico, Inc.
99.3 Monthly Operating Report for the month ended June 30, 2012 for Ladder Companies, Inc.
99.4 Monthly Operating Report for the month ended June 30, 2012 for Square One Energy, Inc.
99.5 Monthly Operating Report for the month ended June 30, 2012 for Tri-Flow, Inc.
99.6 Monthly Operating Report for the month ended June 30, 2012 for W.O. Energy of Nevada, Inc.
99.7 Monthly Operating Report for the month ended June 30, 2012 for WO Energy, Inc.
99.8 Monthly Operating Report for the month ended June 30, 2012 for W.O. Operating Company, Ltd.
99.9 Monthly Operating Report for the month ended June 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: July 20, 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 June 30, 2012 for Cano Petroleum, Inc. |
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99.2 |
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Monthly Operating Report for the month ended June 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 June 30, 2012 for Ladder Companies, Inc. |
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99.4 |
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Monthly Operating Report for the month ended June 30, 2012 for Square One Energy, Inc. |
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99.5 |
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Monthly Operating Report for the month ended June 30, 2012 for Tri-Flow, Inc. |
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99.6 |
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Monthly Operating Report for the month ended June 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 June 30, 2012 for WO Energy, Inc. |
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99.8 |
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Monthly Operating Report for the month ended June 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 June 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: June 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.
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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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7/20/2012 |
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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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7/20/2012 |
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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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June 2012 |
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July 2012 |
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August 2012 |
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ASSETS |
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1. |
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UNRESTRICTED CASH (1) |
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$ |
697,796 |
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$ |
(415,514 |
) |
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2. |
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RESTRICTED CASH |
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3. |
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TOTAL CASH |
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$ |
697,796 |
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$ |
(415,514 |
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$ |
0 |
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$ |
0 |
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4. |
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ACCOUNTS RECEIVABLE (NET) |
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5. |
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INVENTORY |
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6. |
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NOTES RECEIVABLE |
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7. |
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PREPAID EXPENSES |
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$ |
885,181 |
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8. |
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OTHER (ATTACH LIST) (2) MOR-1 Exhibit A |
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$ |
350,000 |
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$ |
130,052,793 |
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9. |
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TOTAL CURRENT ASSETS |
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$ |
1,047,796 |
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$ |
130,522,460 |
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$ |
0 |
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$ |
0 |
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10. |
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PROPERTY, PLANT & EQUIPMENT |
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$ |
119,000 |
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$ |
2,390,824 |
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11. |
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LESS: ACCUMULATED DEPRECIATION / DEPLETION |
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$ |
1,796,920 |
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12. |
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NET PROPERTY, PLANT & EQUIPMENT |
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$ |
119,000 |
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$ |
593,904 |
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$ |
0 |
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$ |
0 |
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13. |
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DUE FROM INSIDERS |
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14. |
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OTHER ASSETS — NET OF AMORTIZATION (ATTACH LIST) |
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15. |
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OTHER (ATTACH LIST) |
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16. |
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TOTAL ASSETS |
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$ |
1,166,796 |
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$ |
131,116,364 |
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$ |
0 |
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$ |
0 |
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POSTPETITION LIABILITIES |
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17. |
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ACCOUNTS PAYABLE |
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$ |
70,100 |
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18. |
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TAXES PAYABLE |
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$ |
16,466 |
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19. |
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NOTES PAYABLE |
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20. |
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PROFESSIONAL FEES (5) |
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$ |
1,617,197 |
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21. |
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SECURED DEBT (6) |
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$ |
0 |
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22. |
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OTHER (ATTACH LIST) |
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23. |
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TOTAL POSTPETITION LIABILITIES |
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$ |
1,703,763 |
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$ |
0 |
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$ |
0 |
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PREPETITION LIABILITIES |
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24. |
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SECURED DEBT (3)(4) |
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$ |
81,113,359 |
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$ |
81,034,453 |
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25. |
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PRIORITY DEBT |
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$ |
29,306 |
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$ |
29,306 |
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26. |
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UNSECURED DEBT |
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$ |
1,361,469 |
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$ |
1,361,469 |
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27. |
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OTHER (ATTACH LIST) |
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28. |
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TOTAL PREPETITION LIABILITIES |
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$ |
82,504,134 |
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$ |
82,425,228 |
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$ |
0 |
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$ |
0 |
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29. |
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TOTAL LIABILITIES |
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$ |
82,504,134 |
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$ |
84,128,991 |
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$ |
0 |
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$ |
0 |
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EQUITY |
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30. |
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PREPETITION OWNERS’ EQUITY |
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$ |
50,105,888 |
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31. |
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POSTPETITION CUMULATIVE PROFIT OR (LOSS) |
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$ |
(3,118,515 |
) |
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32. |
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DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) |
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33. |
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TOTAL EQUITY |
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$ |
(81,337,338 |
) |
$ |
46,987,373 |
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$ |
0 |
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$ |
0 |
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34. |
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TOTAL LIABILITIES & OWNERS’ EQUITY |
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$ |
1,166,796 |
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$ |
131,116,364 |
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$ |
0 |
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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 $590,434.12 and a reconciliation of the filed balance to the actual balance follows below:
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Balance per filed schedule 03/07/2012 |
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697,795.79 |
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Less Wire payments clearing on 3/7/2012 |
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(65,816.00 |
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Less Check payments clearing on 3/7/2012 |
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(422.49 |
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Less ACH payments clearing on 3/7/2012 |
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(41,123.18 |
) | |
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$ |
590,434.12 |
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(2) Includes Adjusted balance for bank at 03/07/2012
(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.
(5) Invoices presented by Thompson & Knight ($1,061,666.70), Blackhill Partners ($297,710.71), BMC Group ($148,140.26) and Kane Russell Coleman ($109,679.57)
(6) Additional post petition interest expense of $1,302,096.00 recorded on secured debt for March, April and May 2012 was reversed in June 2012 because the secured lenders are under secured and, as such, not entitled to post petition interest.
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Monthly Operating Report |
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CASE NAME: Cano Petroleum, Inc. |
ACCRUAL BASIS-2 |
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CASE NUMBER: 12-31549-bjh-11 |
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INCOME STATEMENT
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MONTH |
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MONTH |
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MONTH |
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MONTH |
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June 2012 |
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July 2012 |
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August 2012 |
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REVENUES |
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1. |
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GROSS REVENUES |
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2. |
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LESS: RETURNS & DISCOUNTS |
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3. |
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NET REVENUE |
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$ |
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. |
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MATERIAL |
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5. |
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DIRECT LABOR |
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6. |
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DIRECT OVERHEAD |
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7. |
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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. |
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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. |
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OFFICER / INSIDER COMPENSATION |
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$ |
62,966 |
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10. |
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SELLING & MARKETING |
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11. |
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GENERAL & ADMINISTRATIVE |
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$ |
116,605 |
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12. |
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RENT & LEASE |
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$ |
12,077 |
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13. |
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OTHER (ATTACH LIST) |
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14. |
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TOTAL OPERATING EXPENSES |
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$ |
191,648 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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15. |
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INCOME BEFORE NON-OPERATING INCOME & EXPENSE |
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$ |
(191,648 |
) |
$ |
0 |
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$ |
0 |
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$ |
0 |
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OTHER INCOME & EXPENSES |
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16. |
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NON-OPERATING INCOME (ATT. LIST) |
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17. |
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NON-OPERATING EXPENSE (ATT. LIST) |
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18. |
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INTEREST EXPENSE (3) |
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$ |
(1,296,202 |
) |
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19. |
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DEPRECIATION / DEPLETION |
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$ |
28,859 |
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20. |
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AMORTIZATION |
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21. |
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OTHER (ATTACH LIST) |
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$ |
16,466 |
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22. |
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NET OTHER INCOME & EXPENSES |
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$ |
(1,250,877 |
) |
$ |
0 |
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$ |
0 |
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$ |
0 |
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REORGANIZATION EXPENSES |
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23. |
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PROFESSIONAL FEES (2) |
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$ |
562,827 |
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24. |
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U.S. TRUSTEE FEES (1) |
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$ |
4,875 |
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25. |
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OTHER (ATTACH LIST) |
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26. |
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TOTAL REORGANIZATION EXPENSES |
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$ |
567,702 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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27. |
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INCOME TAX |
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28. |
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NET PROFIT (LOSS) |
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$ |
491,527 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
Notes:
(1) Fees in line with US Trustee Fee table based on Cano Petroleum 2nd quarter disbursement.
(2) Fees for Thompson & Knight, Blackhill Partners, Kane Russell Coleman and BMC Group based on invoices.
(3) Additional post petition interest expense of $1,302,096.00 recorded on secured debt for March, April and May 2012 was reversed in June 2012 because the secured lenders are under secured and, as such, not entitled to post petition interest.
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Monthly Operating Report |
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CASE NAME: Cano Petroleum, Inc. |
ACCRUAL BASIS-3 |
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CASE NUMBER: 12-31549-bjh-11 |
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MONTH |
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MONTH |
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MONTH |
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QUARTER |
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June 2012 |
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July 2012 |
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August 2012 |
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TOTAL |
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CASH RECEIPTS AND DISBURSEMENTS |
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1. |
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CASH - BEGINNING OF MONTH (1) |
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$ |
(167,108 |
) |
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$ |
(167,108 |
) | ||
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RECEIPTS FROM OPERATIONS |
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2. |
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CASH SALES |
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COLLECTION OF ACCOUNTS RECEIVABLE |
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3. |
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PREPETITION |
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$ |
0 |
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4. |
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POSTPETITION |
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$ |
0 |
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5. |
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TOTAL OPERATING RECEIPTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
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$ |
0 |
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|
NON-OPERATING RECEIPTS |
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6. |
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LOANS & ADVANCES (ATTACH LIST) |
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$ |
0 |
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7. |
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SALE OF ASSETS |
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$ |
0 |
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8. |
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OTHER (ATTACH LIST) |
|
$ |
709 |
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$ |
709 |
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9. |
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TOTAL NON-OPERATING RECEIPTS |
|
$ |
709 |
|
$ |
0 |
|
$ |
0 |
|
$ |
709 |
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|
10. |
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TOTAL RECEIPTS |
|
$ |
709 |
|
$ |
0 |
|
$ |
0 |
|
$ |
709 |
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|
11. |
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TOTAL CASH AVAILABLE |
|
$ |
(166,399 |
) |
$ |
0 |
|
$ |
0 |
|
$ |
(166,399 |
) |
|
OPERATING DISBURSEMENTS |
|
|
|
|
|
|
|
|
| ||||||
|
12. |
|
NET PAYROLL |
|
$ |
5,960 |
|
|
|
|
|
$ |
5,960 |
| ||
|
13. |
|
PAYROLL TAXES PAID |
|
$ |
627 |
|
|
|
|
|
$ |
627 |
| ||
|
14. |
|
SALES, USE & OTHER TAXES PAID |
|
$ |
746 |
|
|
|
|
|
$ |
746 |
| ||
|
15. |
|
SECURED / RENTAL / LEASES |
|
$ |
17,327 |
|
|
|
|
|
$ |
17,327 |
| ||
|
16. |
|
UTILITIES |
|
$ |
2,471 |
|
|
|
|
|
$ |
2,471 |
| ||
|
17. |
|
INSURANCE |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
18. |
|
INVENTORY PURCHASES |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
19. |
|
VEHICLE EXPENSES |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
20. |
|
TRAVEL |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
21. |
|
ENTERTAINMENT |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
22. |
|
REPAIRS & MAINTENANCE |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
23. |
|
SUPPLIES |
|
$ |
378 |
|
|
|
|
|
$ |
378 |
| ||
|
24. |
|
ADVERTISING |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
25. |
|
OTHER (ATTACH LIST) see MOR-3 Exhibit A |
|
$ |
221,606 |
|
|
|
|
|
$ |
221,606 |
| ||
|
26. |
|
TOTAL OPERATING DISBURSEMENTS |
|
$ |
249,115 |
|
$ |
0 |
|
$ |
0 |
|
$ |
249,115 |
|
|
REORGANIZATION EXPENSES |
|
|
|
|
|
|
|
|
| ||||||
|
27. |
|
PROFESSIONAL FEES |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
28. |
|
U.S. TRUSTEE FEES |
|
|
|
|
|
|
|
|
| ||||
|
29. |
|
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
30. |
|
TOTAL REORGANIZATION EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
31. |
|
TOTAL DISBURSEMENTS |
|
$ |
249,115 |
|
$ |
0 |
|
$ |
0 |
|
$ |
249,115 |
|
|
32. |
|
NET CASH FLOW |
|
$ |
(248,406 |
) |
$ |
0 |
|
$ |
0 |
|
$ |
(248,406 |
) |
|
33. |
|
CASH - END OF MONTH (1) |
|
$ |
(415,514 |
) |
$ |
0 |
|
$ |
0 |
|
$ |
(415,514 |
) |
Notes:
(1) Exclusive of cash sweep from zero balance accounts to concentration account at Cano Petroleum, Inc.
|
|
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 |
|
June 2012 |
|
July 2012 |
|
August 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 (1) |
MONTH: |
June 2012 |
|
|
|
0-30 |
|
31-60 |
|
61-90 |
|
91+ |
|
|
| |||||||
|
TAXES PAYABLE |
|
DAYS |
|
DAYS |
|
DAYS |
|
DAYS |
|
TOTAL |
| |||||||
|
1. |
|
FEDERAL |
|
|
|
|
|
|
|
|
|
|
| |||||
|
2. |
|
STATE |
|
$ |
16,466 |
|
|
|
|
|
|
|
$ |
16,466 |
| |||
|
3. |
|
LOCAL |
|
|
|
|
|
|
|
|
|
|
| |||||
|
4. |
|
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
|
|
| |||||
|
5. |
|
TOTAL TAXES PAYABLE |
|
$ |
16,466 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
16,466 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
6. |
|
ACCOUNTS PAYABLE |
|
$ |
70,100 |
|
|
|
|
|
|
|
$ |
70,100 |
| |||
|
STATUS OF POSTPETITION TAXES (1) |
MONTH: |
June 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) |
|
|
|
$ |
17,212 |
|
$ |
746 |
|
$ |
16,466 |
| |
|
15. |
|
TOTAL STATE & LOCAL |
|
$ |
0 |
|
$ |
17,212 |
|
$ |
746 |
|
$ |
16,466 |
|
|
16. |
|
TOTAL TAXES |
|
$ |
0 |
|
$ |
17,212 |
|
$ |
746 |
|
$ |
16,466 |
|
* 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: |
June 2012 |
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 |
|
$ |
0 |
|
$ |
3,205,355 |
|
$ |
9,629 |
|
$ |
3,214,984 |
|
|
2. |
ADD: TOTAL DEPOSITS NOT CREDITED |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
3. |
SUBTRACT: OUTSTANDING CHECKS |
|
$ |
46,833 |
|
|
|
|
|
$ |
46,833 |
| ||
|
4. |
OTHER RECONCILING ITEMS |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
5. |
MONTH END BALANCE PER BOOKS (1) |
|
$ |
(46,833 |
) |
$ |
3,205,355 |
|
$ |
9,629 |
|
$ |
3,168,151 |
|
|
6. |
NUMBER OF LAST CHECK WRITTEN |
|
1001002079 |
|
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 |
|
|
|
|
|
|
|
$ |
3,168,151 |
|
(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: |
June 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. |
John Homier |
|
Contract Payment |
|
$ |
62,966 |
|
$ |
213,227 |
|
|
2. |
|
|
|
|
|
|
|
| ||
|
3. |
|
|
|
|
|
|
|
| ||
|
4. |
|
|
|
|
|
|
|
| ||
|
5. |
|
|
|
|
|
|
|
| ||
|
6. |
TOTAL PAYMENTS TO INSIDERS |
|
|
|
$ |
62,966 |
|
$ |
213,227 |
|
PROFESSIONALS
|
|
|
|
DATE OF COURT |
|
|
|
|
|
|
|
TOTAL |
| ||||
|
|
|
|
ORDER AUTHORIZING |
|
AMOUNT |
|
AMOUNT |
|
TOTAL PAID |
|
INCURRED |
| ||||
|
NAME |
|
PAYMENT |
|
APPROVED |
|
PAID |
|
TO DATE |
|
& UNPAID * |
| |||||
|
1. |
Thompson & Knight, LLP |
|
|
|
$ |
|
|
|
|
$ |
0 |
|
$ |
1,061,667 |
| |
|
2. |
Blackhill Partners, LLC |
|
|
|
$ |
|
|
|
|
$ |
0 |
|
$ |
297,711 |
| |
|
3. |
Kane, Russell Coleman & Logan, PC |
|
|
|
$ |
|
|
|
|
$ |
0 |
|
$ |
109,680 |
| |
|
4. |
BMC Group Inc. |
|
|
|
$ |
|
|
|
|
$ |
0 |
|
$ |
148,140 |
| |
|
5. |
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
6. |
TOTAL PAYMENTS TO PROFESSIONALS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
1,617,197 |
| ||
* 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 |
|
$ |
13,363 |
|
$ |
13,363 |
|
$ |
0 |
|
|
2. |
Culberson Rental & Leasing Co. Inc |
|
$ |
3,880 |
|
$ |
3,880 |
|
$ |
(0 |
) |
|
3. |
Key Equipment & Finance Inc |
|
$ |
376 |
|
$ |
0 |
|
$ |
376 |
|
|
4. |
Tindall Record Storage |
|
$ |
84 |
|
$ |
84 |
|
$ |
0 |
|
|
5. |
Pitney Bowes Global Financial (Quarterly Lease) |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
6. |
TOTAL |
|
$ |
17,703 |
|
$ |
17,327 |
|
$ |
376 |
|
Notes:
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Cano Petroleum, Inc. |
ACCRUAL BASIS-7 |
|
|
|
|
CASE NUMBER: 12-31549-bjh-11 |
|
|
|
MONTH: |
June 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 |
|
Fully paid at the |
|
|
Business Auto |
|
ACE American Insurance |
|
8/16/2011 to 8/16/2012 |
|
time 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 |
|
|
|
CASE NAME: Cano Petroleum, Inc.
CASE NUMBER: 12-31549-bjh-11
MOR-1 Exhibit A
|
1160000000 Intercompany Receivable/Payable Account |
|
142,496,197 |
|
|
1160001003 Intercompany Receivable/Payable CC 1003 |
|
(8,727,761 |
) |
|
1160001004 Intercompany Receivable/Payable CC 1004 |
|
1,751,441 |
|
|
1160001005 Intercompany Receivable/Payable CC 1005 |
|
(7,132,146 |
) |
|
1160001010 Intercompany Receivable/Payable CC 1010 |
|
3,642,542 |
|
|
1160001011 Intercompany Receivable/Payable CC 1011 |
|
(3,243,717 |
) |
|
Intercompany Adjustment |
|
819,393 |
|
|
2400000000 Goodwill |
|
101,166 |
|
|
Thomson & Knight retainer |
|
250,303 |
|
|
Contract employee retainers |
|
55,375 |
|
|
Blackhill Partners retainer |
|
40,000 |
|
|
|
|
130,052,793 |
|
CASE NAME: Cano Petroleum, Inc.
CASE NUMBER: 12-31549-bjh-11
MOR-2 Exhibit A
|
Oklahoma Business Activity Tax (BAT) |
|
$ |
16,466.00 |
|
CASE NAME: Cano Petroleum, Inc.
CASE NUMBER: 12-31549-bjh-11
MOR-3 Exhibit A
June 2012 Other
|
Officer Payment |
|
62,966 |
|
|
Other Contract Staff |
|
48,842 |
|
|
IT Professionals |
|
31,872 |
|
|
8k Services |
|
687 |
|
|
Stock Agent |
|
325 |
|
|
Postage |
|
155 |
|
|
Cable Service |
|
124 |
|
|
|
|
|
|
|
June Total Other Operating Disbursements - Checks |
|
144,971 |
|
|
|
|
|
|
|
June Wires - Other contract staff |
|
28,205 |
|
|
June wire - postage |
|
750 |
|
|
|
|
|
|
|
June Total Other Operating Disbursements - Wires |
|
28,955 |
|
|
|
|
|
|
|
Contract staff payment wire omitted in April MOR (4/20/12) |
|
39,297 |
|
|
May Debit card activity |
|
2,360 |
|
|
June Debit card activity |
|
7,938 |
|
|
Adjustment |
|
(1,916 |
) |
|
|
|
|
|
|
Total Other Entries |
|
47,679 |
|
|
|
|
|
|
|
June Total Other Operating Disbursements - All Methods |
|
221,606 |
|
CASE NAME: Cano Petroleum, Inc.
CASE NUMBER: 12-31549-bjh-11
MOR-3 Exhibit B
|
Refund from insurer |
|
$ |
709.00 |
|
CASE NAME: Cano Petroleum, Inc.
CASE NUMBER: 12-31549-bjh-11
MOR-4 Exhibit A
|
Oklahoma Business Activity Tax (BAT) |
|
$ |
16,466 |
|
|
Delaware Franchise Tax |
|
$ |
746 |
|
Exhibit 99.2
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Cano Petro of New Mexico, Inc. |
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: June 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 |
|
7/20/2012 |
|
PRINTED NAME OF RESPONSIBLE PARTY |
|
DATE |
PREPARER:
|
/s/ Adrian Lamberti |
|
Controller |
|
ORIGINAL SIGNATURE OF PREPARER |
|
TITLE |
|
|
|
|
|
Adrian Lamberti |
|
7/20/2012 |
|
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 |
|
June 2012 |
|
July 2012 |
|
August 2012 |
| ||||
|
ASSETS |
|
|
|
|
|
|
|
|
| ||||||
|
1. |
|
UNRESTRICTED CASH |
|
|
|
$ |
18,806 |
|
|
|
|
| |||
|
2. |
|
RESTRICTED CASH |
|
|
|
|
|
|
|
|
| ||||
|
3. |
|
TOTAL CASH (2) |
|
$ |
0 |
|
$ |
18,806 |
|
$ |
0 |
|
$ |
0 |
|
|
4. |
|
ACCOUNTS RECEIVABLE (NET) |
|
$ |
375,000 |
|
$ |
289,000 |
|
|
|
|
| ||
|
5. |
|
INVENTORY (5) |
|
$ |
225,500 |
|
$ |
33,124 |
|
|
|
|
| ||
|
6. |
|
NOTES RECEIVABLE |
|
|
|
|
|
|
|
|
| ||||
|
7. |
|
PREPAID EXPENSES |
|
|
|
$ |
173,526 |
|
|
|
|
| |||
|
8. |
|
OTHER (1) MOR-1b |
|
$ |
1,289,657 |
|
$ |
1,039,657 |
|
|
|
|
| ||
|
9. |
|
TOTAL CURRENT ASSETS |
|
$ |
1,890,157 |
|
$ |
1,554,113 |
|
$ |
0 |
|
$ |
0 |
|
|
10. |
|
PROPERTY, PLANT & EQUIPMENT |
|
$ |
78,163 |
|
$ |
81,560,243 |
|
|
|
|
| ||
|
11. |
|
LESS: ACCUMULATED DEPRECIATION / DEPLETION |
|
|
|
$ |
72,893,858 |
|
|
|
|
| |||
|
12. |
|
NET PROPERTY, PLANT & EQUIPMENT |
|
$ |
78,163 |
|
$ |
8,666,385 |
|
$ |
0 |
|
$ |
0 |
|
|
13. |
|
DUE FROM INSIDERS |
|
|
|
|
|
|
|
|
| ||||
|
14. |
|
OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
15. |
|
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
16. |
|
TOTAL ASSETS |
|
$ |
1,968,320 |
|
$ |
10,220,498 |
|
$ |
0 |
|
$ |
0 |
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
POSTPETITION LIABILITIES |
|
|
|
|
|
|
|
|
| ||||||
|
17. |
|
ACCOUNTS PAYABLE |
|
|
|
$ |
37,639 |
|
|
|
|
| |||
|
18. |
|
TAXES PAYABLE (5) |
|
|
|
$ |
54,271 |
|
|
|
|
| |||
|
19. |
|
NOTES PAYABLE |
|
|
|
|
|
|
|
|
| ||||
|
20. |
|
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
21. |
|
SECURED DEBT |
|
|
|
|
|
|
|
|
| ||||
|
22. |
|
OTHER (MOR 1-c) |
|
|
|
$ |
(411 |
) |
|
|
|
| |||
|
23. |
|
TOTAL POSTPETITION LIABILITIES |
|
|
|
$ |
91,499 |
|
$ |
0 |
|
$ |
0 |
| |
|
PREPETITION LIABILITIES |
|
|
|
|
|
|
|
|
| ||||||
|
24. |
|
SECURED DEBT (4) |
|
$ |
80,995,000 |
|
|
|
|
|
|
| |||
|
25. |
|
PRIORITY DEBT (3) |
|
$ |
153,344 |
|
$ |
74,373 |
|
|
|
|
| ||
|
26. |
|
UNSECURED DEBT |
|
$ |
216,886 |
|
$ |
216,886 |
|
|
|
|
| ||
|
27. |
|
OTHER (MOR-1a) |
|
|
|
$ |
66,080,712 |
|
|
|
|
| |||
|
28. |
|
TOTAL PREPETITION LIABILITIES |
|
$ |
81,365,230 |
|
$ |
66,371,971 |
|
$ |
0 |
|
$ |
0 |
|
|
29. |
|
TOTAL LIABILITIES |
|
$ |
81,365,230 |
|
$ |
66,463,470 |
|
$ |
0 |
|
$ |
0 |
|
|
EQUITY |
|
|
|
|
|
|
|
|
| ||||||
|
30. |
|
PREPETITION OWNERS’ EQUITY |
|
|
|
$ |
(55,663,419 |
) |
|
|
|
| |||
|
31. |
|
POSTPETITION CUMULATIVE PROFIT OR (LOSS) |
|
|
|
$ |
(579,553 |
) |
|
|
|
| |||
|
32. |
|
DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) |
|
|
|
|
|
|
|
|
| ||||
|
33. |
|
TOTAL EQUITY |
|
$ |
(79,396,910 |
) |
$ |
(56,242,972 |
) |
$ |
0 |
|
$ |
0 |
|
|
34. |
|
TOTAL LIABILITIES & OWNERS’ EQUITY |
|
$ |
1,968,320 |
|
$ |
10,220,498 |
|
$ |
0 |
|
$ |
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) A total of $53,284 of Dec-2011 and Jan-2012 severance taxes paid and $25,687.33 of severance taxes for Mar- 2012 was paid in May
(4) For balance sheet purposes, the secured debt for Cano Petroleum, Inc. and its subsidiaries is carried in total by Cano Petroleum, Inc.
(5) Estimated
|
|
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 |
| ||||
|
|
|
|
June 2012 |
|
July 2012 |
|
August 2012 |
|
|
| ||||
|
REVENUES |
|
|
|
|
|
|
|
|
| |||||
|
1. |
GROSS REVENUES (1) |
|
$ |
243,600 |
|
|
|
|
|
|
| |||
|
2. |
LESS: RETURNS & DISCOUNTS |
|
|
|
|
|
|
|
|
| ||||
|
3. |
NET REVENUE |
|
$ |
243,600 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
COST OF GOODS SOLD |
|
|
|
|
|
|
|
|
| |||||
|
4. |
MATERIAL |
|
|
|
|
|
|
|
|
| ||||
|
5. |
DIRECT LABOR |
|
|
|
|
|
|
|
|
| ||||
|
6. |
DIRECT OVERHEAD (LOE) |
|
$ |
232,809 |
|
|
|
|
|
|
| |||
|
7. |
TOTAL COST OF GOODS SOLD |
|
$ |
232,809 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
8. |
GROSS PROFIT |
|
$ |
10,791 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
OPERATING EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
9. |
OFFICER / INSIDER COMPENSATION |
|
|
|
|
|
|
|
|
| ||||
|
10. |
SELLING & MARKETING |
|
|
|
|
|
|
|
|
| ||||
|
11. |
GENERAL & ADMINISTRATIVE |
|
$ |
3,127 |
|
|
|
|
|
|
| |||
|
12. |
RENT & LEASE |
|
|
|
|
|
|
|
|
| ||||
|
13. |
OTHER (ATTACH LIST) MOR-2a |
|
$ |
16,100 |
|
|
|
|
|
|
| |||
|
14. |
TOTAL OPERATING EXPENSES |
|
$ |
19,227 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
15. |
INCOME BEFORE NON-OPERATING INCOME & EXPENSE |
|
$ |
(8,436 |
) |
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
OTHER INCOME & EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
16. |
NON-OPERATING INCOME (ATT. LIST) |
|
|
|
|
|
|
|
|
| ||||
|
17. |
NON-OPERATING EXPENSE (ATT. LIST) |
|
|
|
|
|
|
|
|
| ||||
|
18. |
INTEREST EXPENSE |
|
$ |
26 |
|
|
|
|
|
|
| |||
|
19. |
DEPRECIATION / DEPLETION |
|
$ |
73,700 |
|
|
|
|
|
|
| |||
|
20. |
AMORTIZATION |
|
|
|
|
|
|
|
|
| ||||
|
21. |
OTHER (2) (ATTACH LIST) MOR-2b |
|
$ |
861 |
|
|
|
|
|
|
| |||
|
22. |
NET OTHER INCOME & EXPENSES |
|
$ |
74,587 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
REORGANIZATION EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
23. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
24. |
U.S. TRUSTEE FEES |
|
$ |
6,500 |
|
|
|
|
|
|
| |||
|
25. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
26. |
TOTAL REORGANIZATION EXPENSES |
|
$ |
6,500 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
27. |
INCOME TAX |
|
|
|
|
|
|
|
|
| ||||
|
28. |
NET PROFIT (LOSS) (1) |
|
$ |
(89,523 |
) |
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
(1) Net of royalties, estimated and/ or paid. |
|
(2) Estimated property taxes. |
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Cano Petro of New Mexico, Inc. |
ACCRUAL BASIS-3 |
|
|
|
|
CASE NUMBER: 12-31550-bjh-11 |
|
|
|
|
|
MONTH |
|
MONTH |
|
MONTH |
|
QUARTER |
| ||||
|
|
|
|
June 2012 |
|
July 2012 |
|
August 2012 |
|
TOTAL |
| ||||
|
CASH RECEIPTS AND DISBURSEMENTS |
|
|
|
|
|
|
|
|
| |||||
|
1. |
CASH - BEGINNING OF MONTH(1) |
|
$ |
180,287 |
|
|
|
|
|
$ |
180,287 |
| ||
|
RECEIPTS FROM OPERATIONS |
|
|
|
|
|
|
|
|
| |||||
|
2. |
CASH SALES |
|
|
|
|
|
|
|
|
| ||||
|
COLLECTION OF ACCOUNTS RECEIVABLE |
|
|
|
|
|
|
|
|
| |||||
|
3. |
PREPETITION |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
4. |
POSTPETITION |
|
$ |
199,157 |
|
|
|
|
|
$ |
199,157 |
| ||
|
5. |
TOTAL OPERATING RECEIPTS |
|
$ |
199,157 |
|
$ |
0 |
|
$ |
0 |
|
$ |
199,157 |
|
|
NON-OPERATING RECEIPTS |
|
|
|
|
|
|
|
|
| |||||
|
6. |
LOANS & ADVANCES (ATTACH LIST) |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
7. |
SALE OF ASSETS |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
8. |
OTHER (ATTACH LIST) MOR - 3a |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
9. |
TOTAL NON-OPERATING RECEIPTS |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
10. |
TOTAL RECEIPTS |
|
$ |
199,157 |
|
$ |
0 |
|
$ |
0 |
|
$ |
199,157 |
|
|
11. |
TOTAL CASH AVAILABLE |
|
$ |
379,444 |
|
$ |
0 |
|
$ |
0 |
|
$ |
379,444 |
|
|
OPERATING DISBURSEMENTS |
|
|
|
|
|
|
|
|
| |||||
|
12. |
NET PAYROLL |
|
$ |
23,423 |
|
|
|
|
|
$ |
23,423 |
| ||
|
13. |
PAYROLL TAXES PAID |
|
$ |
1,458 |
|
|
|
|
|
$ |
1,458 |
| ||
|
14. |
SALES, USE & OTHER TAXES PAID |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
15. |
SECURED / RENTAL / LEASES |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
16. |
UTILITIES (2) |
|
$ |
17,345 |
|
|
|
|
|
$ |
17,345 |
| ||
|
17. |
INSURANCE |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
18. |
INVENTORY PURCHASES |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
19. |
VEHICLE EXPENSES |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
20. |
TRAVEL |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
21. |
ENTERTAINMENT |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
22. |
REPAIRS & MAINTENANCE |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
23. |
SUPPLIES |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
24. |
ADVERTISING |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
25. |
OTHER (3) (ATTACH LIST) MOR -3 b |
|
$ |
318,413 |
|
|
|
|
|
$ |
318,413 |
| ||
|
26. |
TOTAL OPERATING DISBURSEMENTS |
|
$ |
360,638 |
|
$ |
0 |
|
$ |
0 |
|
$ |
360,638 |
|
|
REORGANIZATION EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
27. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
28. |
U.S. TRUSTEE FEES |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
29. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
30. |
TOTAL REORGANIZATION EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
31. |
TOTAL DISBURSEMENTS |
|
$ |
360,638 |
|
$ |
0 |
|
$ |
0 |
|
$ |
360,638 |
|
|
32. |
NET CASH FLOW |
|
$ |
(161,481 |
) |
$ |
0 |
|
$ |
0 |
|
$ |
(161,481 |
) |
|
33. |
CASH - END OF MONTH (1) |
|
$ |
18,806 |
|
$ |
0 |
|
$ |
0 |
|
$ |
18,806 |
|
|
(1) exclusive of cash sweep from zero balance accounts to concentration account at Cano Petroleum, Inc. |
|
(2) April includes Utility Deposits totaling $78,746. |
|
(3) Including royalties, estimated and/ or paid. |
|
|
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 |
|
June 2012 |
|
July 2012 |
|
August 2012 |
| |||||
|
1. |
0-30 |
|
$ |
375,000 |
|
$ |
289,000 |
|
|
|
|
| ||
|
2. |
31-60 |
|
|
|
|
|
|
|
|
| ||||
|
3. |
61-90 |
|
|
|
|
|
|
|
|
| ||||
|
4. |
91+ |
|
|
|
|
|
|
|
|
| ||||
|
5. |
TOTAL ACCOUNTS RECEIVABLE |
|
$ |
375,000 |
|
$ |
289,000 |
|
$ |
0 |
|
$ |
0 |
|
|
6. |
AMOUNT CONSIDERED UNCOLLECTIBLE |
|
|
|
|
|
|
|
|
| ||||
|
7. |
ACCOUNTS RECEIVABLE (NET) |
|
$ |
375,000 |
|
$ |
289,000 |
|
$ |
0 |
|
$ |
0 |
|
|
AGING OF POSTPETITION TAXES AND PAYABLES (1) |
MONTH: |
June 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 |
|
$ |
16,100 |
|
$ |
13,400 |
|
$ |
21,500 |
|
|
|
$ |
51,000 |
| |
|
5. |
TOTAL TAXES PAYABLE |
|
$ |
16,100 |
|
$ |
13,400 |
|
$ |
21,500 |
|
$ |
0 |
|
$ |
51,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
6. |
ACCOUNTS PAYABLE |
|
$ |
37,639 |
|
|
|
|
|
|
|
$ |
37,639 |
| |||
|
STATUS OF POSTPETITION TAXES (1) |
MONTH: |
June 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 |
|
$ |
2,410 |
|
$ |
861 |
|
|
|
$ |
3,271 |
| |
|
13. |
|
PERSONAL PROPERTY |
|
|
|
|
|
|
|
|
| ||||
|
14. |
|
OTHER (ATTACH LIST) MOR - 4a |
|
$ |
34,900 |
|
$ |
16,100 |
|
|
|
$ |
51,000 |
| |
|
15. |
|
TOTAL STATE & LOCAL |
|
$ |
37,310 |
|
$ |
16,961 |
|
$ |
0 |
|
$ |
54,271 |
|
|
16. |
|
TOTAL TAXES |
|
$ |
37,310 |
|
$ |
16,961 |
|
$ |
0 |
|
$ |
54,271 |
|
|
* |
|
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: |
June 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 |
|
$ |
0 |
|
|
|
|
|
$ |
0 |
|
|
2. |
|
ADD: TOTAL DEPOSITS NOT CREDITED |
|
|
|
|
|
|
|
$ |
0 |
| |
|
3. |
|
SUBTRACT: OUTSTANDING CHECKS |
|
$ |
28,058 |
|
|
|
|
|
$ |
28,058 |
|
|
4. |
|
OTHER RECONCILING ITEMS |
|
|
|
|
|
|
|
$ |
0 |
| |
|
5. |
|
MONTH END BALANCE PER BOOKS (1) |
|
$ |
(28,058 |
) |
|
|
|
|
$ |
(28,058 |
) |
|
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 |
|
|
|
|
|
|
|
$ |
(28,058 |
) |
(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: June 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: June 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 |
|
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-1a
PREPETITION
|
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 |
|
(220,460 |
) |
|
4800000000 Asset Retirement Obligation Long Term |
|
(1,408,344 |
) |
|
|
|
|
|
|
|
|
(1,628,803 |
) |
|
|
|
|
|
|
Grand Total |
|
(66,080,712 |
) |
MOR-1b
|
Blanket Bond CD |
|
25,000 |
|
|
Pioneer Bank CD Bond |
|
250,000 |
|
|
Various Bonds |
|
764,657 |
|
|
|
|
|
|
|
Total |
|
1,039,657 |
|
MOR - 1C
|
June Inter company adjustments |
|
(411 |
) |
|
|
|
|
|
|
|
|
(411 |
) |
MOR-2a
|
April Severance Taxes |
|
21,500.00 |
|
|
|
|
|
|
|
May Severance Taxes |
|
13,400.00 |
|
|
|
|
|
|
|
June Severance Taxes |
|
16,100.00 |
|
|
|
|
|
|
|
Total Estimated Severance Taxes |
|
51,000.00 |
|
MOR-2b
Line 21 - Other
|
June 1 - 30 Ad Valorem tax Estimate |
|
861 |
|
|
|
|
|
|
|
Total Post Petition Ad Valorem Taxes |
|
861 |
|
MOR-3b
Line 25 - Other Expenses
June 2012
|
LOE General |
|
193,199 |
|
|
Adjustment for LOE |
|
110,556 |
|
|
Royalty Checks - May 2012 Sales |
|
14,658 |
|
|
LOE TOTAL |
|
318,413 |
|
MOR 4a
|
April Severance Taxes |
|
21,500.00 |
|
|
|
|
|
|
|
May Severance Taxes |
|
13,400.00 |
|
|
|
|
|
|
|
June Severance Taxes |
|
16,100.00 |
|
|
|
|
|
|
|
Total Estimated Severance Taxes |
|
51,000.00 |
|
Exhibit 99.3
|
|
Monthly Operating Report |
|
|
|
|
CASE NAME: Ladder Companies, Inc. |
ACCRUAL BASIS |
|
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CASE NUMBER: 12-31551-bjh-11 |
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JUDGE: Barbara J. Houser | |
UNITED STATES BANKRUPTCY COURT
NORTHERN AND EASTERN
DISTRICT OF
TEXAS
DIVISION 6
MONTHLY OPERATING REPORT
MONTH ENDING: June 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.
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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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7/20/2012 |
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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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7/20/2012 |
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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: Ladder Companies, Inc. |
ACCRUAL BASIS-1 |
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CASE NUMBER: 12-31551-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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June 2012 |
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July 2012 |
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August 2012 |
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ASSETS |
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1. |
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UNRESTRICTED CASH |
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$ |
1,466,305 |
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2. |
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RESTRICTED CASH |
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$ |
0 |
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3. |
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TOTAL CASH |
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$ |
0 |
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$ |
1,466,305 |
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$ |
0 |
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$ |
0 |
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4. |
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ACCOUNTS RECEIVABLE (NET) |
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$ |
343,000 |
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$ |
560,000 |
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5. |
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INVENTORY (3) |
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$ |
161,500 |
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$ |
53,298 |
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6. |
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NOTES RECEIVABLE |
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7. |
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PREPAID EXPENSES |
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$ |
184,352 |
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8. |
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OTHER (MOR-1 A) |
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$ |
275,000 |
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$ |
10,754,436 |
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9. |
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TOTAL CURRENT ASSETS |
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$ |
779,500 |
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$ |
13,018,391 |
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$ |
0 |
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$ |
0 |
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10. |
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PROPERTY, PLANT & EQUIPMENT |
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$ |
752,700 |
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$ |
14,326,615 |
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11. |
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LESS: ACCUMULATED DEPRECIATION / DEPLETION |
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$ |
3,069,775 |
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12. |
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NET PROPERTY, PLANT & EQUIPMENT |
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$ |
752,700 |
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$ |
11,256,840 |
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$ |
0 |
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$ |
0 |
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13. |
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DUE FROM INSIDERS |
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14. |
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OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) |
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15. |
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OTHER (ATTACH LIST) |
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16. |
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TOTAL ASSETS |
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$ |
1,532,200 |
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$ |
24,275,231 |
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$ |
0 |
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$ |
0 |
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POSTPETITION LIABILITIES |
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17. |
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ACCOUNTS PAYABLE |
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$ |
31,619 |
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18. |
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TAXES PAYABLE (3) |
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$ |
783 |
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19. |
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NOTES PAYABLE |
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20. |
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PROFESSIONAL FEES |
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21. |
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SECURED DEBT |
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22. |
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OTHER (ATTACH LIST) |
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23. |
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TOTAL POSTPETITION LIABILITIES |
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$ |
32,402 |
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$ |
0 |
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$ |
0 |
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PREPETITION LIABILITIES |
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24. |
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SECURED DEBT (2) |
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$ |
80,995,000 |
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25. |
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PRIORITY DEBT |
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$ |
2,509 |
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$ |
2,509 |
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26. |
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UNSECURED DEBT |
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$ |
311,930 |
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$ |
311,930 |
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27. |
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OTHER MOR -1B |
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$ |
339,464 |
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28. |
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TOTAL PREPETITION LIABILITIES |
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$ |
81,309,440 |
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$ |
653,903 |
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$ |
0 |
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$ |
0 |
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29. |
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TOTAL LIABILITIES |
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$ |
81,309,440 |
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$ |
686,305 |
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$ |
0 |
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$ |
0 |
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EQUITY |
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30. |
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PREPETITION OWNERS’ EQUITY |
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$ |
22,401,652 |
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31. |
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POSTPETITION CUMULATIVE PROFIT OR (LOSS) |
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$ |
1,187,273 |
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32. |
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DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) |
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33. |
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TOTAL EQUITY |
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$ |
(79,777,240 |
) |
$ |
23,588,925 |
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$ |
0 |
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$ |
0 |
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34. |
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TOTAL LIABILITIES & OWNERS’ EQUITY |
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$ |
1,532,200 |
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$ |
24,275,231 |
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$ |
0 |
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$ |
0 |
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(1) Includes consolidated retainer of $250,000 for Cano Petroleum, Inc. and its related debtor entities |
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(2) For balance sheet purposes, the secured debt for Cano Petroleum, Inc. and its subsidiaries is carried in total by Cano Petroleum, Inc. |
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(3) Estimates |
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Monthly Operating Report |
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CASE NAME: Ladder Companies, Inc. |
ACCRUAL BASIS-2 |
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CASE NUMBER: 12-31551-bjh-11 |
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INCOME STATEMENT
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MONTH |
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MONTH |
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MONTH |
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MONTH |
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June 2012 |
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July 2012 |
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August 2012 |
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REVENUES |
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1. |
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GROSS REVENUES (1) |
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$ |
558,400 |
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2. |
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LESS: RETURNS & DISCOUNTS |
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3. |
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NET REVENUE |
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$ |
558,400 |
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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. |
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MATERIAL |
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5. |
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DIRECT LABOR (LOE) |
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$ |
280,905 |
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6. |
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DIRECT OVERHEAD |
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7. |
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TOTAL COST OF GOODS SOLD |
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$ |
280,905 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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8. |
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GROSS PROFIT |
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$ |
277,495 |
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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. |
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OFFICER / INSIDER COMPENSATION |
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10. |
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SELLING & MARKETING |
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11. |
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GENERAL & ADMINISTRATIVE |
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$ |
2,785 |
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12. |
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RENT & LEASE |
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13. |
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OTHER (ATTACH LIST) |
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14. |
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TOTAL OPERATING EXPENSES |
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$ |
2,785 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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15. |
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INCOME BEFORE NON-OPERATING INCOME & EXPENSE |
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$ |
274,710 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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OTHER INCOME & EXPENSES |
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16. |
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NON-OPERATING INCOME (ATT. LIST) |
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17. |
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NON-OPERATING EXPENSE (ATT. LIST) |
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18. |
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INTEREST EXPENSE |
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19. |
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DEPRECIATION / DEPLETION |
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$ |
26,068 |
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20. |
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AMORTIZATION |
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21. |
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OTHER (2) (ATTACH LIST) MOR -2A |
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$ |
206 |
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22. |
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NET OTHER INCOME & EXPENSES |
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$ |
26,274 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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REORGANIZATION EXPENSES |
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23. |
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PROFESSIONAL FEES |
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24. |
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U.S. TRUSTEE FEES |
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$ |
4,875 |
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$ |
0 |
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$ |
0 |
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25. |
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OTHER (ATTACH LIST) |
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26. |
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TOTAL REORGANIZATION EXPENSES |
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$ |
4,875 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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27. |
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INCOME TAX |
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28. |
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NET PROFIT (1) (LOSS) |
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$ |
243,561 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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(1) Net of royalties, estimated and/ or paid.
(2) Estimated property taxes.
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Monthly Operating Report |
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CASE NAME: Ladder Companies, Inc. |
ACCRUAL BASIS-3 |
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CASE NUMBER: 12-31551-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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June 2012 |
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July 2012 |
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August 2012 |
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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 |
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$ |
1,252,782 |
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$ |
1,252,782 |
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RECEIPTS FROM OPERATIONS |
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2. |
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CASH SALES |
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COLLECTION OF ACCOUNTS RECEIVABLE |
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3. |
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PREPETITION |
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$ |
0 |
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4. |
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POSTPETITION |
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$ |
415,697 |
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$ |
415,697 |
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5. |
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TOTAL OPERATING RECEIPTS |
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$ |
415,697 |
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$ |
0 |
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$ |
0 |
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$ |
415,697 |
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NON-OPERATING RECEIPTS |
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6. |
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LOANS & ADVANCES (ATTACH LIST) |
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$ |
0 |
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7. |
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SALE OF ASSETS |
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$ |
0 |
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8. |
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OTHER (ATTACH LIST) |
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$ |
0 |
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9. |
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TOTAL NON-OPERATING RECEIPTS |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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10. |
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TOTAL RECEIPTS |
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$ |
415,697 |
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$ |
0 |
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$ |
0 |
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$ |
415,697 |
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11. |
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TOTAL CASH AVAILABLE |
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$ |
1,668,480 |
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$ |
0 |
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$ |
0 |
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$ |
1,668,480 |
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OPERATING DISBURSEMENTS |
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12. |
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NET PAYROLL |
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$ |
18,022 |
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$ |
18,022 |
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13. |
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PAYROLL TAXES PAID |
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$ |
1,131 |
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$ |
1,131 |
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14. |
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SALES, USE & OTHER TAXES PAID |
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$ |
0 |
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15. |
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SECURED / RENTAL / LEASES |
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$ |
0 |
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16. |
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UTILITIES |
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$ |
122,678 |
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$ |
122,678 |
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17. |
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INSURANCE |
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$ |
0 |
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18. |
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INVENTORY PURCHASES |
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$ |
0 |
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19. |
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VEHICLE EXPENSES |
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$ |
0 |
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20. |
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TRAVEL |
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$ |
0 |
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21. |
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ENTERTAINMENT |
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$ |
0 |
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22. |
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REPAIRS & MAINTENANCE |
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|
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$ |
0 |
| |||
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23. |
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SUPPLIES |
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$ |
193 |
|
|
|
|
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$ |
193 |
| ||
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24. |
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ADVERTISING |
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|
|
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$ |
0 |
| |||
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25. |
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OTHER (2) (MOR-3A) |
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$ |
60,151 |
|
|
|
|
|
$ |
60,151 |
| ||
|
26. |
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TOTAL OPERATING DISBURSEMENTS |
|
$ |
202,175 |
|
$ |
0 |
|
$ |
0 |
|
$ |
202,175 |
|
|
REORGANIZATION EXPENSES |
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|
|
|
|
|
|
|
| ||||||
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27. |
|
PROFESSIONAL FEES |
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|
|
|
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|
|
$ |
0 |
| |||
|
28. |
|
U.S. TRUSTEE FEES |
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|
|
|
|
|
|
$ |
0 |
| |||
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29. |
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OTHER (ATTACH LIST) |
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|
|
|
|
|
|
$ |
0 |
| |||
|
30. |
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TOTAL REORGANIZATION EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
31. |
|
TOTAL DISBURSEMENTS |
|
$ |
202,175 |
|
$ |
0 |
|
$ |
0 |
|
$ |
202,175 |
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|
32. |
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NET CASH FLOW |
|
$ |
213,522 |
|
$ |
0 |
|
$ |
0 |
|
$ |
213,522 |
|
|
33. |
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CASH - END OF MONTH (1) |
|
$ |
1,466,305 |
|
$ |
0 |
|
$ |
0 |
|
$ |
1,466,305 |
|
|
(1) Exclusive of cash sweep from zero balance accounts to concentration account at Cano Petroleum, Inc. |
|
(2) Including royalties, estimated and/ or paid. |
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|
Monthly Operating Report |
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|
CASE NAME: Ladder Companies, Inc. |
ACCRUAL BASIS-4 |
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CASE NUMBER: 12-31551-bjh-11 |
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SCHEDULE |
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MONTH |
|
MONTH |
|
MONTH |
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ACCOUNTS RECEIVABLE AGING |
|
AMOUNT |
|
June 2012 |
|
July 2012 |
|
August 2012 |
| ||||||
|
1. |
|
0-30 |
|
$ |
343,000 |
|
$ |
560,000 |
|
|
|
|
| ||
|
2. |
|
31-60 |
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|
|
|
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| ||||
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3. |
|
61-90 |
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|
|
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|
|
|
|
| ||||
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4. |
|
91+ |
|
|
|
|
|
|
|
|
| ||||
|
5. |
|
TOTAL ACCOUNTS RECEIVABLE |
|
$ |
343,000 |
|
$ |
560,000 |
|
$ |
0 |
|
$ |
0 |
|
|
6. |
|
AMOUNT CONSIDERED UNCOLLECTIBLE |
|
|
|
|
|
|
|
|
| ||||
|
7. |
|
ACCOUNTS RECEIVABLE (NET) |
|
$ |
343,000 |
|
$ |
560,000 |
|
$ |
0 |
|
$ |
0 |
|
|
AGING OF POSTPETITION TAXES AND PAYABLES (1) |
MONTH: |
June 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 |
|
$ |
31,619 |
|
|
|
|
|
|
|
$ |
31,619 |
| |||
|
STATUS OF POSTPETITION TAXES (1) |
MONTH: |
June 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 |
|
$ |
577 |
|
$ |
206 |
|
|
|
$ |
783 |
| |
|
13. |
|
PERSONAL PROPERTY |
|
|
|
|
|
|
|
|
| ||||
|
14. |
|
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
15. |
|
TOTAL STATE & LOCAL |
|
$ |
577 |
|
$ |
206 |
|
$ |
0 |
|
$ |
783 |
|
|
16. |
|
TOTAL TAXES |
|
$ |
577 |
|
$ |
206 |
|
$ |
0 |
|
$ |
783 |
|
|
* |
|
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: |
June 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 |
|
1,552.37 |
|
2,119.87 |
|
|
|
$ |
3,672 |
| |||
|
4. |
|
OTHER RECONCILING ITEMS |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
5. |
|
MONTH END BALANCE PER BOOKS (1) |
|
$ |
(1,552 |
) |
$ |
(2,120 |
) |
$ |
0 |
|
$ |
(3,672 |
) |
|
6. |
|
NUMBER OF LAST CHECK WRITTEN |
|
1003001442 |
|
1011000582 |
|
|
|
|
| ||||
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 |
|
|
|
|
|
|
|
$ |
(3,672 |
) |
(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: June 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: June 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 |
|
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
June Inter company
|
1160000000 Intercompany Receivable/Payable Account |
|
(547,073 |
) |
|
1160001001 Intercompany Receivable/Payable CC 1001 |
|
12,311,481 |
|
|
1160001003 Intercompany Receivable/Payable CC 1003 |
|
1,221 |
|
|
1160001004 Intercompany Receivable/Payable CC 1004 |
|
898 |
|
|
1160001005 Intercompany Receivable/Payable CC 1005 |
|
(7,524 |
) |
|
1160001011 Intercompany Receivable/Payable CC 1011 |
|
(1,221 |
) |
|
Intercompany Adjustment |
|
(1,003,346 |
) |
|
|
|
10,754,436 |
|
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 |
|
|
|
|
|
|
|
June Ad Valorem Tax estimate |
|
206 |
|
|
|
|
|
|
|
|
|
783 |
|
MOR-3 A
June 2012
|
LOE General |
|
87,065 |
|
|
Adjustment |
|
-27,869 |
|
|
Royalty Checks - April 2012 Sales |
|
955 |
|
|
TOTAL LOE EXPENSES |
|
60,151 |
|
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: June 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 |
|
7/20/2012 |
|
PRINTED NAME OF RESPONSIBLE PARTY |
|
DATE |
|
|
|
|
|
|
|
|
|
PREPARER: |
|
|
|
|
|
|
|
/s/ John H. Homier |
|
Controller |
|
ORIGINAL SIGNATURE OF PREPARER |
|
TITLE |
|
|
|
|
|
Adrian Lamberti |
|
7/20/2012 |
|
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 |
|
June 2012 |
|
July 2012 |
|
August 2012 |
| ||||
|
ASSETS |
|
|
|
|
|
|
|
|
| ||||||
|
1. |
|
UNRESTRICTED CASH |
|
|
|
$ |
(39,191 |
) |
|
|
|
| |||
|
2. |
|
RESTRICTED CASH |
|
|
|
|
|
|
|
|
| ||||
|
3. |
|
TOTAL CASH |
|
$ |
0 |
|
$ |
(39,191 |
) |
$ |
0 |
|
$ |
0 |
|
|
4. |
|
ACCOUNTS RECEIVABLE (NET) |
|
$ |
49,000 |
|
$ |
32,000 |
|
|
|
|
| ||
|
5. |
|
INVENTORY (3) |
|
$ |
50,100 |
|
$ |
16,856 |
|
|
|
|
| ||
|
6. |
|
NOTES RECEIVABLE |
|
|
|
|
|
|
|
|
| ||||
|
7. |
|
PREPAID EXPENSES |
|
|
|
$ |
39,332 |
|
|
|
|
| |||
|
8. |
|
OTHER (1) MOR-1C |
|
$ |
520,000 |
|
$ |
270,000 |
|
|
|
|
| ||
|
9. |
|
TOTAL CURRENT ASSETS |
|
$ |
619,100 |
|
$ |
318,997 |
|
$ |
0 |
|
$ |
0 |
|
|
10. |
|
PROPERTY, PLANT & EQUIPMENT |
|
$ |
105,733 |
|
$ |
42,479,802 |
|
|
|
|
| ||
|
11. |
|
LESS: ACCUMULATED DEPRECIATION / DEPLETION |
|
|
|
$ |
42,606,081 |
|
|
|
|
| |||
|
12. |
|
NET PROPERTY, PLANT & EQUIPMENT |
|
$ |
105,733 |
|
$ |
(126,279 |
) |
$ |
0 |
|
$ |
0 |
|
|
13. |
|
DUE FROM INSIDERS |
|
|
|
|
|
|
|
|
| ||||
|
14. |
|
OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
15. |
|
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
16. |
|
TOTAL ASSETS |
|
$ |
724,833 |
|
$ |
192,718 |
|
$ |
0 |
|
$ |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
POSTPETITION LIABILITIES |
|
|
|
|
|
|
|
|
| ||||||
|
17. |
|
ACCOUNTS PAYABLE |
|
|
|
$ |
38,070 |
|
|
|
|
| |||
|
18. |
|
TAXES PAYABLE (3) |
|
|
|
$ |
8,463 |
|
|
|
|
| |||
|
19. |
|
NOTES PAYABLE |
|
|
|
|
|
|
|
|
| ||||
|
20. |
|
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
21. |
|
SECURED DEBT |
|
|
|
|
|
|
|
|
| ||||
|
22. |
|
OTHER MOR-1D |
|
|
|
$ |
17,165 |
|
|
|
|
| |||
|
23. |
|
TOTAL POSTPETITION LIABILITIES |
|
|
|
$ |
63,698 |
|
$ |
0 |
|
$ |
0 |
| |
|
PREPETITION LIABILITIES |
|
|
|
|
|
|
|
|
| ||||||
|
24. |
|
SECURED DEBT (2) |
|
$ |
80,995,000 |
|
|
|
|
|
|
| |||
|
25. |
|
PRIORITY DEBT (4) |
|
$ |
43,188 |
|
$ |
40,068 |
|
|
|
|
| ||
|
26. |
|
UNSECURED DEBT |
|
$ |
145,835 |
|
$ |
145,838 |
|
|
|
|
| ||
|
27. |
|
OTHER (MOR-1 A and MOR-1 B) |
|
|
|
$ |
45,033,338 |
|
|
|
|
| |||
|
28. |
|
TOTAL PREPETITION LIABILITIES |
|
$ |
81,184,022 |
|
$ |
45,219,244 |
|
$ |
0 |
|
$ |
0 |
|
|
29. |
|
TOTAL LIABILITIES |
|
$ |
81,184,022 |
|
$ |
45,282,942 |
|
$ |
0 |
|
$ |
0 |
|
|
EQUITY |
|
|
|
|
|
|
|
|
| ||||||
|
30. |
|
PREPETITION OWNERS’ EQUITY |
|
|
|
$ |
(44,895,341 |
) |
|
|
|
| |||
|
31. |
|
POSTPETITION CUMULATIVE PROFIT OR (LOSS) |
|
|
|
$ |
(194,884 |
) |
|
|
|
| |||
|
32. |
|
DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) |
|
|
|
|
|
|
|
|
| ||||
|
33. |
|
TOTAL EQUITY |
|
$ |
(80,459,189 |
) |
$ |
(45,090,225 |
) |
$ |
0 |
|
$ |
0 |
|
|
34. |
|
TOTAL LIABILITIES & OWNERS’ EQUITY |
|
$ |
724,833 |
|
$ |
192,718 |
|
$ |
0 |
|
$ |
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. |
|
|
|
(3) Estimated |
|
|
|
(4) Severance taxes of $2,187.86 were paid in April 2012 for December 2011 and January 2012 severance taxes and $931.69 paid in May 2012 for February 2012 severance taxes. |
|
|
|
Monthly Operating Report |
|
|
|
|
|
CASE NAME: Square One Energy, Inc. |
|
ACCRUAL BASIS-2 |
|
|
|
|
|
CASE NUMBER: 12-31552-bjh-11 |
|
|
|
|
|
|
|
INCOME STATEMENT |
|
|
|
|
|
|
|
MONTH |
|
MONTH |
|
MONTH |
|
MONTH |
| ||||
|
|
|
|
|
June 2012 |
|
July 2012 |
|
August 2012 |
|
|
| ||||
|
REVENUES |
|
|
|
|
|
|
|
|
| ||||||
|
1. |
|
GROSS REVENUES (1) |
|
$ |
25,600 |
|
|
|
|
|
|
| |||
|
2. |
|
LESS: RETURNS & DISCOUNTS |
|
|
|
|
|
|
|
|
| ||||
|
3. |
|
NET REVENUE |
|
$ |
25,600 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
COST OF GOODS SOLD |
|
|
|
|
|
|
|
|
| ||||||
|
4. |
|
MATERIAL |
|
|
|
|
|
|
|
|
| ||||
|
5. |
|
DIRECT LABOR (LOE) |
|
$ |
50,053 |
|
|
|
|
|
|
| |||
|
6. |
|
DIRECT OVERHEAD |
|
|
|
|
|
|
|
|
| ||||
|
7. |
|
TOTAL COST OF GOODS SOLD |
|
$ |
50,053 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
8. |
|
GROSS PROFIT |
|
$ |
(24,453 |
) |
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
OPERATING EXPENSES |
|
|
|
|
|
|
|
|
| ||||||
|
9. |
|
OFFICER / INSIDER COMPENSATION |
|
|
|
|
|
|
|
|
| ||||
|
10. |
|
SELLING & MARKETING |
|
|
|
|
|
|
|
|
| ||||
|
11. |
|
GENERAL & ADMINISTRATIVE |
|
$ |
682 |
|
|
|
|
|
|
| |||
|
12. |
|
RENT & LEASE |
|
|
|
|
|
|
|
|
| ||||
|
13. |
|
OTHER (3) (MOR-2a) |
|
$ |
600 |
|
|
|
|
|
|
| |||
|
14. |
|
TOTAL OPERATING EXPENSES |
|
$ |
1,282 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
15. |
|
INCOME BEFORE NON-OPERATING INCOME & EXPENSE |
|
$ |
(25,734 |
) |
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
OTHER INCOME & EXPENSES |
|
|
|
|
|
|
|
|
| ||||||
|
16. |
|
NON-OPERATING INCOME (ATT. LIST) |
|
|
|
|
|
|
|
|
| ||||
|
17. |
|
NON-OPERATING EXPENSE (ATT. LIST) |
|
|
|
|
|
|
|
|
| ||||
|
18. |
|
INTEREST EXPENSE |
|
$ |
639 |
|
|
|
|
|
|
| |||
|
19. |
|
DEPRECIATION / DEPLETION |
|
$ |
30,428 |
|
|
|
|
|
|
| |||
|
20. |
|
AMORTIZATION |
|
|
|
|
|
|
|
|
| ||||
|
21. |
|
OTHER (2) (MOR-2b) |
|
$ |
1,701 |
|
|
|
|
|
|
| |||
|
22. |
|
NET OTHER INCOME & EXPENSES |
|
$ |
32,768 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
REORGANIZATION EXPENSES |
|
|
|
|
|
|
|
|
| ||||||
|
23. |
|
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
24. |
|
U.S. TRUSTEE FEES |
|
$ |
1,625 |
|
|
|
|
|
|
| |||
|
25. |
|
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
26. |
|
TOTAL REORGANIZATION EXPENSES |
|
$ |
1,625 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
27. |
|
INCOME TAX |
|
|
|
|
|
|
|
|
| ||||
|
28. |
|
NET PROFIT (LOSS) |
|
$ |
(60,127 |
) |
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
(1) Net of royalties, estimated and/or paid. |
|
|
|
|
|
|
|
|
|
|
(2) Estimated Property Taxes. |
|
|
|
|
|
|
|
|
|
|
(3) Estimated SeveranceTaxes. |
|
|
|
|
|
|
|
|
|
|
|
|
Monthly Operating Report |
|
|
|
|
|
CASE NAME: Square One Energy, Inc. |
|
ACCRUAL BASIS-3 |
|
|
|
|
|
CASE NUMBER: 12-31552-bjh-11 |
|
|
|
|
|
|
|
MONTH |
|
MONTH |
|
MONTH |
|
QUARTER |
| ||||
|
|
|
|
|
June 2012 |
|
July 2012 |
|
August 2012 |
|
TOTAL |
| ||||
|
CASH RECEIPTS AND DISBURSEMENTS |
|
|
|
|
|
|
|
|
| ||||||
|
1. |
|
CASH - BEGINNING OF MONTH |
|
$ |
(1,425 |
) |
|
|
|
|
$ |
(1,425 |
) | ||
|
RECEIPTS FROM OPERATIONS |
|
|
|
|
|
|
|
|
| ||||||
|
2. |
|
CASH SALES |
|
|
|
|
|
|
|
|
| ||||
|
COLLECTION OF ACCOUNTS RECEIVABLE |
|
|
|
|
|
|
|
|
| ||||||
|
3. |
|
PREPETITION |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
4. |
|
POSTPETITION |
|
$ |
14,938 |
|
|
|
|
|
$ |
14,938 |
| ||
|
5. |
|
TOTAL OPERATING RECEIPTS |
|
$ |
14,938 |
|
$ |
0 |
|
$ |
0 |
|
$ |
14,938 |
|
|
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 |
|
$ |
14,938 |
|
$ |
0 |
|
$ |
0 |
|
$ |
14,938 |
|
|
11. |
|
TOTAL CASH AVAILABLE |
|
$ |
13,513 |
|
$ |
0 |
|
$ |
0 |
|
$ |
13,513 |
|
|
OPERATING DISBURSEMENTS |
|
|
|
|
|
|
|
|
| ||||||
|
12. |
|
NET PAYROLL |
|
$ |
7,581 |
|
|
|
|
|
$ |
7,581 |
| ||
|
13. |
|
PAYROLL TAXES PAID |
|
$ |
471 |
|
|
|
|
|
$ |
471 |
| ||
|
14. |
|
SALES, USE & OTHER TAXES PAID |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
15. |
|
SECURED / RENTAL / LEASES |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
16. |
|
UTILITIES (2) |
|
$ |
5,400 |
|
|
|
|
|
$ |
5,400 |
| ||
|
17. |
|
INSURANCE |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
18. |
|
INVENTORY PURCHASES |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
19. |
|
VEHICLE EXPENSES |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
20. |
|
TRAVEL |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
21. |
|
ENTERTAINMENT |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
22. |
|
REPAIRS & MAINTENANCE |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
23. |
|
SUPPLIES |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
24. |
|
ADVERTISING |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
25. |
|
OTHER (3) (ATTACH LIST)MOR-3a |
|
$ |
39,253 |
|
|
|
|
|
$ |
39,253 |
| ||
|
26. |
|
TOTAL OPERATING DISBURSEMENTS |
|
$ |
52,705 |
|
$ |
0 |
|
$ |
0 |
|
$ |
52,705 |
|
|
REORGANIZATION EXPENSES |
|
|
|
|
|
|
|
|
| ||||||
|
27. |
|
PROFESSIONAL FEES |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
28. |
|
U.S. TRUSTEE FEES |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
29. |
|
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
30. |
|
TOTAL REORGANIZATION EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
31. |
|
TOTAL DISBURSEMENTS |
|
$ |
52,705 |
|
$ |
0 |
|
$ |
0 |
|
$ |
52,705 |
|
|
32. |
|
NET CASH FLOW |
|
$ |
(37,766 |
) |
$ |
0 |
|
$ |
0 |
|
$ |
(37,766 |
) |
|
33. |
|
CASH - END OF MONTH (1) |
|
$ |
(39,191 |
) |
$ |
0 |
|
$ |
0 |
|
$ |
(39,191 |
) |
|
(1) Exclusive of cash sweep from zero balance accounts to concentration account at Cano Petroleum, Inc. |
|
(2) April 2012 on earlier schedule Includes Utility Deposits paid of $14,422 |
|
(3) Including royalties, estimated and/ or paid. |
|
|
|
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 |
|
June 2012 |
|
July 2012 |
|
August 2012 |
| ||||||
|
1. |
|
0-30 |
|
$ |
49,000 |
|
$ |
32,000 |
|
|
|
|
| ||
|
2. |
|
31-60 |
|
|
|
|
|
|
|
|
| ||||
|
3. |
|
61-90 |
|
|
|
|
|
|
|
|
| ||||
|
4. |
|
91+ |
|
|
|
|
|
|
|
|
| ||||
|
5. |
|
TOTAL ACCOUNTS RECEIVABLE |
|
$ |
49,000 |
|
$ |
32,000 |
|
$ |
0 |
|
$ |
0 |
|
|
6. |
|
AMOUNT CONSIDERED UNCOLLECTIBLE |
|
|
|
|
|
|
|
|
| ||||
|
7. |
|
ACCOUNTS RECEIVABLE (NET) |
|
$ |
49,000 |
|
$ |
32,000 |
|
$ |
0 |
|
$ |
0 |
|
|
AGING OF POSTPETITION TAXES AND PAYABLES (1) |
MONTH: |
June 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 |
|
$ |
600 |
|
$ |
400 |
|
$ |
1,000 |
|
|
|
$ |
2,000 |
| |
|
5. |
|
TOTAL TAXES PAYABLE |
|
$ |
600 |
|
$ |
400 |
|
$ |
1,000 |
|
$ |
0 |
|
$ |
2,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
6. |
|
ACCOUNTS PAYABLE |
|
$ |
38,070 |
|
|
|
|
|
|
|
$ |
38,070 |
| |||
|
STATUS OF POSTPETITION TAXES (1) |
MONTH: |
June 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 |
|
$ |
4,762 |
|
$ |
1,701 |
|
|
|
$ |
6,463 |
| |
|
13. |
|
PERSONAL PROPERTY |
|
|
|
|
|
|
|
|
| ||||
|
14. |
|
OTHER (ATTACH LIST) MOR-4a |
|
$ |
1,400 |
|
$ |
600 |
|
|
|
$ |
2,000 |
| |
|
15. |
|
TOTAL STATE & LOCAL |
|
$ |
6,162 |
|
$ |
2,301 |
|
$ |
0 |
|
$ |
8,463 |
|
|
16. |
|
TOTAL TAXES |
|
$ |
6,162 |
|
$ |
2,301 |
|
$ |
0 |
|
$ |
8,463 |
|
|
* 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: |
June 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 |
|
$ |
0 |
|
|
|
|
|
$ |
0 |
| ||
|
2. |
|
ADD: TOTAL DEPOSITS NOT CREDITED |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
3. |
|
SUBTRACT: OUTSTANDING CHECKS |
|
$ |
10,264 |
|
|
|
|
|
$ |
10,264 |
| ||
|
4. |
|
OTHER RECONCILING ITEMS |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
5. |
|
MONTH END BALANCE PER BOOKS (1) |
|
$ |
(10,264 |
) |
$ |
0 |
|
$ |
0 |
|
$ |
(10,264 |
) |
|
6. |
|
NUMBER OF LAST CHECK WRITTEN |
|
1004000842 |
|
|
|
|
|
|
| ||||
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 |
|
|
|
|
|
|
|
$ |
(10,264 |
) |
|
(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: June 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: June 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 |
|
Fully paid at time of |
|
Business Auto |
|
ACE American Insurance |
|
8/16/2011 to 8/16/2012 |
|
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-1A
|
PREPETITION INTERCOMPANY |
|
|
| |
|
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-1B
|
PREPETITION |
|
|
| |
|
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 |
|
|
License and Performance Bond |
|
20,000 |
|
|
Total |
|
270,000 |
|
MOR-1D
|
June Adjustments to Inter Company |
|
$ |
17,165 |
|
|
|
|
|
| |
|
Net Total |
|
$ |
17,165 |
|
MOR-2a
|
June Severance Taxes |
|
600 |
|
|
|
|
|
|
|
Total |
|
600 |
|
MOR-2b
|
June Property Taxes |
|
1,701 |
|
|
|
|
|
|
|
Total |
|
1,701 |
|
MOR-3a
Line 25 - Other Expenses
June 2012
|
LOE Payments General |
|
20,149 |
|
|
Adjustments for 03/8/12 to 05/31/12 LOE |
|
16,827 |
|
|
Royalty Checks - May 2012 Sales |
|
2,277 |
|
|
|
|
|
|
|
Lease Operating Expense LOE |
|
39,253 |
|
MOR 4a
|
April Estimated Severance taxes |
|
1,000 |
|
|
May Estimated Severance taxes |
|
400 |
|
|
June Estimated Severance taxes |
|
600 |
|
|
July Estimated Severance taxes |
|
0 |
|
|
Total Taxes Due |
|
2,000 |
|
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: June 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 |
|
7/20/2012 |
|
PRINTED NAME OF RESPONSIBLE PARTY |
|
DATE |
|
|
|
|
|
|
|
|
|
PREPARER: |
|
|
|
|
|
|
|
/s/ Adrian Lamberti |
|
Controller |
|
ORIGINAL SIGNATURE OF PREPARER |
|
TITLE |
|
|
|
|
|
Adrian Lamberti |
|
7/20/2012 |
|
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 |
|
June 2012 |
|
July 2012 |
|
August 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 |
| ||||
|
|
|
|
|
June 2012 |
|
July 2012 |
|
August 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 |
| ||||
|
|
|
|
|
June 2012 |
|
July 2012 |
|
August 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 |
|
June 2012 |
|
July 2012 |
|
August 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: |
|
|
June 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: |
|
|
June 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: |
|
June 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: |
|
June 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: |
|
June 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: June 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 |
|
7/20/2012 |
|
PRINTED NAME OF RESPONSIBLE PARTY |
|
DATE |
|
|
|
|
|
|
|
|
|
PREPARER: |
|
|
|
|
|
|
|
/s/ Adrian Lamberti |
|
Controller |
|
ORIGINAL SIGNATURE OF PREPARER |
|
TITLE |
|
|
|
|
|
Adrian Lamberti |
|
7/20/2012 |
|
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 |
|
June 2012 |
|
July 2012 |
|
August 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 |
| ||||
|
|
|
|
|
June 2012 |
|
July 2012 |
|
August 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. Energy of Nevada, Inc. |
ACCRUAL BASIS-3 |
|
|
|
|
CASE NUMBER: 12-31554-bjh-11 |
|
|
|
|
|
|
MONTH |
|
MONTH |
|
MONTH |
|
QUARTER |
| ||||
|
|
|
|
|
June 2012 |
|
July 2012 |
|
August 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 |
|
June 2012 |
|
July 2012 |
|
August 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: |
|
June 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: |
|
June 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: 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.
|
BANK RECONCILIATIONS |
|
MONTH: |
|
June 2012 |
|
|
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
|
|
|
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: June 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 |
|
|
QUESTIONNAIRE |
|
|
|
|
| ||
|
|
|
MONTH: |
|
June 2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
Fully paid at 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 |
|
|
|
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: June 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 |
|
7/20/2012 |
|
PRINTED NAME OF RESPONSIBLE PARTY |
|
DATE |
|
|
|
|
|
|
|
|
|
PREPARER: |
|
|
|
|
|
|
|
/s/ Adrian Lamberti |
|
Controller |
|
ORIGINAL SIGNATURE OF PREPARER |
|
TITLE |
|
|
|
|
|
Adrian Lamberti |
|
7/20/2012 |
|
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 |
|
June 2012 |
|
July 2012 |
|
August 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 |
| ||||
|
|
|
|
|
June 2012 |
|
July 2012 |
|
August 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 |
| ||||
|
|
|
|
|
June 2012 |
|
July 2012 |
|
August 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 |
|
June 2012 |
|
July 2012 |
|
August 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: June 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: June 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.
|
BANK RECONCILIATIONS |
MONTH: June 2012 |
|
|
|
|
|
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: WO Energy, Inc. |
ACCRUAL BASIS-6 | |
|
|
| |
|
CASE NUMBER: 12-31555-bjh-11 |
| |
|
|
| |
|
|
|
MONTH: June 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: June 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 |
|
Fully paid at 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 |
|
|
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: June 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 |
|
7/20/2012 |
|
PRINTED NAME OF RESPONSIBLE PARTY |
|
DATE |
|
|
|
|
|
|
|
|
|
PREPARER: |
|
|
|
|
|
|
|
/s/ Adrian Lamberti |
|
Controller |
|
ORIGINAL SIGNATURE OF PREPARER |
|
TITLE |
|
|
|
|
|
Adrian Lamberti |
|
7/20/2012 |
|
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 |
|
June 2012 |
|
July 2012 |
|
August 2012 |
| |||||
|
ASSETS |
|
|
|
|
|
|
|
|
| |||||
|
1. |
UNRESTRICTED CASH |
|
$ |
0 |
|
$ |
1,970,555 |
|
|
|
|
| ||
|
2. |
RESTRICTED CASH |
|
|
|
|
|
|
|
|
| ||||
|
3. |
TOTAL CASH |
|
$ |
0 |
|
$ |
1,970,555 |
|
$ |
0 |
|
$ |
0 |
|
|
4. |
ACCOUNTS RECEIVABLE (NET) |
|
$ |
1,133,000 |
|
$ |
725,000 |
|
|
|
|
| ||
|
5. |
INVENTORY (3) |
|
$ |
817,200 |
|
$ |
215,040 |
|
|
|
|
| ||
|
6. |
NOTES RECEIVABLE |
|
|
|
|
|
|
|
|
| ||||
|
7. |
PREPAID EXPENSES |
|
|
|
$ |
99,392 |
|
|
|
|
| |||
|
8. |
OTHER (ATTACH LIST) (1) |
|
$ |
250,000 |
|
|
|
|
|
|
| |||
|
9. |
TOTAL CURRENT ASSETS |
|
$ |
2,200,200 |
|
$ |
3,009,987 |
|
$ |
0 |
|
$ |
0 |
|
|
10. |
PROPERTY, PLANT & EQUIPMENT |
|
$ |
127,800 |
|
$ |
157,015,833 |
|
|
|
|
| ||
|
11. |
LESS: ACCUMULATED DEPRECIATION / DEPLETION |
|
|
|
$ |
124,396,143 |
|
|
|
|
| |||
|
12. |
NET PROPERTY, PLANT & EQUIPMENT |
|
$ |
127,800 |
|
$ |
32,619,690 |
|
$ |
0 |
|
$ |
0 |
|
|
13. |
DUE FROM INSIDERS |
|
|
|
|
|
|
|
|
| ||||
|
14. |
OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) |
|
$ |
817,200 |
|
$ |
817,200 |
|
|
|
|
| ||
|
15. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
16. |
TOTAL ASSETS |
|
$ |
3,145,200 |
|
$ |
36,446,877 |
|
$ |
0 |
|
$ |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
POSTPETITION LIABILITIES |
|
|
|
|
|
|
|
|
| |||||
|
17. |
ACCOUNTS PAYABLE |
|
|
|
$ |
122,884 |
|
|
|
|
| |||
|
18. |
TAXES PAYABLE (3) |
|
|
|
$ |
120,241 |
|
|
|
|
| |||
|
19. |
NOTES PAYABLE |
|
|
|
|
|
|
|
|
| ||||
|
20. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
21. |
SECURED DEBT |
|
|
|
|
|
|
|
|
| ||||
|
22. |
OTHER (3) (ATTACH LIST) MOR-1c |
|
|
|
$ |
(215,394 |
) |
|
|
|
| |||
|
23. |
TOTAL POSTPETITION LIABILITIES |
|
|
|
$ |
27,731 |
|
$ |
0 |
|
$ |
0 |
| |
|
PREPETITION LIABILITIES |
|
|
|
|
|
|
|
|
| |||||
|
24. |
SECURED DEBT (2) |
|
$ |
80,995,000 |
|
|
|
|
|
|
| |||
|
25. |
PRIORITY DEBT (4) |
|
$ |
840,953 |
|
$ |
807,603 |
|
|
|
|
| ||
|
26. |
UNSECURED DEBT |
|
$ |
1,386,347 |
|
$ |
1,386,347 |
|
|
|
|
| ||
|
27. |
OTHER (MOR-1 Exhibits A and B) |
|
|
|
$ |
67,387,471 |
|
|
|
|
| |||
|
28. |
TOTAL PREPETITION LIABILITIES |
|
$ |
83,222,300 |
|
$ |
69,581,421 |
|
$ |
0 |
|
$ |
0 |
|
|
29. |
TOTAL LIABILITIES |
|
$ |
83,222,300 |
|
$ |
69,609,152 |
|
$ |
0 |
|
$ |
0 |
|
|
EQUITY |
|
|
|
|
|
|
|
|
| |||||
|
30. |
PREPETITION OWNERS’ EQUITY |
|
|
|
$ |
(33,911,521 |
) |
|
|
|
| |||
|
31. |
POSTPETITION CUMULATIVE PROFIT OR (LOSS) |
|
|
|
$ |
749,245 |
|
|
|
|
| |||
|
32. |
DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) |
|
|
|
|
|
|
|
|
| ||||
|
33. |
TOTAL EQUITY |
|
$ |
(80,077,100 |
) |
$ |
(33,162,276 |
) |
$ |
0 |
|
$ |
0 |
|
|
34. |
TOTAL LIABILITIES & OWNERS’ EQUITY |
|
$ |
3,145,200 |
|
$ |
36,446,877 |
|
$ |
0 |
|
$ |
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. (3) Estimated (4) $25,212.02 of pre-petition severance taxes paid in April for the Dec-2011 and Jan-2012 periods. $8,037.61 was paid in May for Feb-2012 Severance Taxes. |
|
|
|
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 |
| ||||
|
|
|
|
June 2012 |
|
July 2012 |
|
August 2012 |
|
|
| ||||
|
REVENUES |
|
|
|
|
|
|
|
|
| |||||
|
1. |
GROSS REVENUES (2) |
|
$ |
693,300 |
|
|
|
|
|
|
| |||
|
2. |
LESS: RETURNS & DISCOUNTS |
|
|
|
|
|
|
|
|
| ||||
|
3. |
NET REVENUE |
|
$ |
693,300 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
COST OF GOODS SOLD |
|
|
|
|
|
|
|
|
| |||||
|
4. |
MATERIAL |
|
|
|
|
|
|
|
|
| ||||
|
5. |
DIRECT LABOR |
|
|
|
|
|
|
|
|
| ||||
|
6. |
DIRECT OVERHEAD (LOE) |
|
$ |
451,362 |
|
|
|
|
|
|
| |||
|
7. |
TOTAL COST OF GOODS SOLD |
|
$ |
451,362 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
8. |
GROSS PROFIT |
|
$ |
241,938 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
OPERATING EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
9. |
OFFICER / INSIDER COMPENSATION |
|
|
|
|
|
|
|
|
| ||||
|
10. |
SELLING & MARKETING |
|
|
|
|
|
|
|
|
| ||||
|
11. |
GENERAL & ADMINISTRATIVE |
|
$ |
22,382 |
|
|
|
|
|
|
| |||
|
12. |
RENT & LEASE |
|
$ |
2,318 |
|
|
|
|
|
|
| |||
|
13. |
OTHER (4) (ATTACH LIST) MOR-2 b |
|
$ |
12,500 |
|
|
|
|
|
|
| |||
|
14. |
TOTAL OPERATING EXPENSES |
|
$ |
37,200 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
15. |
INCOME BEFORE NON-OPERATING INCOME & EXPENSE |
|
$ |
204,738 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
OTHER INCOME & EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
16. |
NON-OPERATING INCOME (ATT. LIST) |
|
|
|
|
|
|
|
|
| ||||
|
17. |
NON-OPERATING EXPENSE (ATT. LIST) |
|
|
|
|
|
|
|
|
| ||||
|
18. |
INTEREST EXPENSE |
|
$ |
30,206 |
|
|
|
|
|
|
| |||
|
19. |
DEPRECIATION / DEPLETION |
|
$ |
166,760 |
|
|
|
|
|
|
| |||
|
20. |
AMORTIZATION |
|
|
|
|
|
|
|
|
| ||||
|
21. |
OTHER (3) (MOR-2a) |
|
$ |
21,984 |
|
|
|
|
|
|
| |||
|
22. |
NET OTHER INCOME & EXPENSES |
|
$ |
218,949 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
REORGANIZATION EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
23. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
|
| ||||
|
24. |
U.S. TRUSTEE FEES (1) |
|
$ |
7,475 |
|
|
|
|
|
|
| |||
|
25. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| ||||
|
26. |
TOTAL REORGANIZATION EXPENSES |
|
$ |
7,475 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
27. |
INCOME TAX |
|
|
|
|
|
|
|
|
| ||||
|
28. |
NET PROFIT (LOSS) (2) |
|
$ |
(21,687 |
) |
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
(1) Fee for W.O Operating Company Inc. at $6,500.00, 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.
(2) Net of royalties, estimated and/or paid.
(3) Estimated Property Taxes
(4) Estimated Severance Taxes
|
|
|
Monthly Operating Report |
|
|
|
|
|
CASE NAME: W.O. Operating Company, Ltd. |
|
ACCRUAL BASIS-3 |
|
|
|
|
|
CASE NUMBER: 12-31556-bjh-11 |
|
|
|
CASH RECEIPTS AND |
|
MONTH |
|
MONTH |
|
MONTH |
|
QUARTER |
| |||||
|
DISBURSEMENTS |
|
June 2012 |
|
July 2012 |
|
August 2012 |
|
TOTAL |
| |||||
|
1. |
CASH - BEGINNING OF MONTH |
|
$ |
1,832,311 |
|
|
|
|
|
$ |
1,832,311 |
| ||
|
RECEIPTS FROM OPERATIONS |
|
|
|
|
|
|
|
|
| |||||
|
2. |
CASH SALES |
|
|
|
|
|
|
|
|
| ||||
|
COLLECTION OF ACCOUNTS RECEIVABLE |
|
|
|
|
|
|
|
| ||||||
|
3. |
PREPETITION |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
4. |
POSTPETITION |
|
$ |
629,956 |
|
|
|
|
|
$ |
629,956 |
| ||
|
5. |
TOTAL OPERATING RECEIPTS |
|
$ |
629,956 |
|
$ |
0 |
|
$ |
0 |
|
$ |
629,956 |
|
|
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 |
|
$ |
629,956 |
|
$ |
0 |
|
$ |
0 |
|
$ |
629,956 |
|
|
11. |
TOTAL CASH AVAILABLE |
|
$ |
2,462,267 |
|
$ |
0 |
|
$ |
0 |
|
$ |
2,462,267 |
|
|
OPERATING DISBURSEMENTS |
|
|
|
|
|
|
|
|
| |||||
|
12. |
NET PAYROLL |
|
$ |
86,747 |
|
|
|
|
|
$ |
86,747 |
| ||
|
13. |
PAYROLL TAXES PAID |
|
$ |
5,645 |
|
|
|
|
|
$ |
5,645 |
| ||
|
14. |
SALES, USE & OTHER TAXES PAID |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
15. |
SECURED / RENTAL / LEASES |
|
$ |
110 |
|
|
|
|
|
$ |
110 |
| ||
|
16. |
UTILITIES |
|
$ |
87,019 |
|
|
|
|
|
$ |
87,019 |
| ||
|
17. |
INSURANCE |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
18. |
INVENTORY PURCHASES |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
19. |
VEHICLE EXPENSES |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
20. |
TRAVEL |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
21. |
ENTERTAINMENT |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
22. |
REPAIRS & MAINTENANCE |
|
$ |
1,767 |
|
|
|
|
|
$ |
1,767 |
| ||
|
23. |
SUPPLIES |
|
$ |
1,325 |
|
|
|
|
|
$ |
1,325 |
| ||
|
24. |
ADVERTISING |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
25. |
OTHER (MOR-3A) |
|
$ |
309,098 |
|
|
|
|
|
$ |
309,098 |
| ||
|
26. |
TOTAL OPERATING DISBURSEMENTS |
|
$ |
491,712 |
|
$ |
0 |
|
$ |
0 |
|
$ |
491,712 |
|
|
REORGANIZATION EXPENSES |
|
|
|
|
|
|
|
|
| |||||
|
27. |
PROFESSIONAL FEES |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
28. |
U.S. TRUSTEE FEES |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
29. |
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
30. |
TOTAL REORGANIZATION EXPENSES |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
$ |
0 |
|
|
31. |
TOTAL DISBURSEMENTS |
|
$ |
491,712 |
|
$ |
0 |
|
$ |
0 |
|
$ |
491,712 |
|
|
32. |
NET CASH FLOW |
|
$ |
138,244 |
|
$ |
0 |
|
$ |
0 |
|
$ |
138,244 |
|
|
33. |
CASH - END OF MONTH (1) |
|
$ |
1,970,555 |
|
$ |
0 |
|
$ |
0 |
|
$ |
1,970,555 |
|
|
Notes: |
|
|
|
|
|
|
|
|
| |
|
(1) |
Exclusive of cash sweep from zero balance accounts to concentration account at cano Petroleum, Inc. | |||||||||
|
|
|
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 |
|
June 2012 |
|
July 2012 |
|
August 2012 |
| |||||
|
1. |
0-30 |
|
$ |
1,133,000 |
|
$ |
725,000 |
|
|
|
|
| ||
|
2. |
31-60 |
|
|
|
|
|
|
|
|
| ||||
|
3. |
61-90 |
|
|
|
|
|
|
|
|
| ||||
|
4. |
91+ |
|
|
|
|
|
|
|
|
| ||||
|
5. |
TOTAL ACCOUNTS RECEIVABLE |
|
$ |
1,133,000 |
|
$ |
725,000 |
|
$ |
0 |
|
$ |
0 |
|
|
6. |
AMOUNT CONSIDERED UNCOLLECTIBLE |
|
|
|
|
|
|
|
|
| ||||
|
7. |
ACCOUNTS RECEIVABLE (NET) |
|
$ |
1,133,000 |
|
$ |
725,000 |
|
$ |
0 |
|
$ |
0 |
|
|
AGING OF POSTPETITION TAXES AND PAYABLES (1) |
MONTH: |
June 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 |
|
$ |
12,500 |
|
$ |
11,800 |
|
$ |
12,400 |
|
|
|
$ |
36,700 |
| |
|
5. |
TOTAL TAXES PAYABLE |
|
$ |
12,500 |
|
$ |
11,800 |
|
$ |
12,400 |
|
$ |
0 |
|
$ |
36,700 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
6. |
ACCOUNTS PAYABLE |
|
$ |
122,884 |
|
|
|
|
|
|
|
$ |
122,884 |
| |||
|
STATUS OF POSTPETITION TAXES (1) |
MONTH: |
June 2012 |
|
|
|
|
BEGINNING |
|
AMOUNT |
|
|
|
ENDING |
| ||||
|
|
|
|
TAX |
|
PAID |
|
|
|
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 (2) |
|
$ |
61,556 |
|
$ |
21,984 |
|
|
|
$ |
83,540 |
| |
|
13. |
PERSONAL PROPERTY |
|
|
|
|
|
|
|
|
| ||||
|
14. |
OTHER (ATTACH LIST) MOR-4a |
|
$ |
24,200 |
|
$ |
12,500 |
|
|
|
$ |
36,700 |
| |
|
15. |
TOTAL STATE & LOCAL |
|
$ |
85,756 |
|
$ |
34,484 |
|
$ |
0 |
|
$ |
120,241 |
|
|
16. |
TOTAL TAXES |
|
$ |
85,756 |
|
$ |
34,484 |
|
$ |
0 |
|
$ |
120,241 |
|
* 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
(2) 2012 Ad valorem taxes accrued for postpetition taxes
|
|
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: June 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 |
|
$ |
0 |
|
|
|
|
|
$ |
0 |
| ||
|
2. |
ADD: TOTAL DEPOSITS NOT CREDITED |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
3. |
SUBTRACT: OUTSTANDING CHECKS |
|
$ |
125,196 |
|
|
|
|
|
$ |
125,196 |
| ||
|
4. |
OTHER RECONCILING ITEMS |
|
|
|
|
|
|
|
$ |
0 |
| |||
|
5. |
MONTH END BALANCE PER BOOKS (1) |
|
$ |
(125,196 |
) |
$ |
0 |
|
$ |
0 |
|
$ |
(125,196 |
) |
|
6. |
NUMBER OF LAST CHECK WRITTEN |
|
1005003333 |
|
|
|
|
|
|
| ||||
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 |
|
|
|
|
|
|
|
$ |
(125,196 |
) |
(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: |
June 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. |
Scott White (1) |
|
|
|
|
|
$ |
0 |
| ||
|
2. |
Miles O’ Loghlin (1) |
|
|
|
|
|
$ |
0 |
| ||
|
3. |
Xerox Corporation |
|
$ |
100 |
|
$ |
110 |
|
$ |
(10 |
) |
|
4. |
|
|
|
|
|
|
$ |
0 |
| ||
|
5. |
|
|
|
|
|
|
|
| |||
|
6. |
TOTAL |
|
$ |
100 |
|
$ |
110 |
|
$ |
(10 |
) |
(1) June 2012 rent was prepaid in May 2012 leaving a credit of $887, so nothing is due for June 2012
|
|
|
|
Monthly Operating Report |
|
|
|
| |
|
CASE NAME: W.O. Operating Company, Ltd. |
|
|
ACCRUAL BASIS-7 |
|
|
|
| |
|
CASE NUMBER: 12-31556-bjh-11 |
|
| |
|
|
|
| |
|
|
|
MONTH: |
June 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 |
|
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-1a
PREPETITION
MOR-1, Line 8 - List.
|
|
|
$ |
|
|
1160000000 Intercompany Receivable/Payable Account |
|
(39,380,182 |
) |
|
1160001001 Intercompany Receivable/Payable CC 1001 |
|
6,715,041 |
|
|
1160001003 Intercompany Receivable/Payable CC 1003 |
|
1,581 |
|
|
1160001004 Intercompany Receivable/Payable CC 1004 |
|
(17,152 |
) |
|
1160001010 Intercompany Receivable/Payable CC 1010 |
|
88,659 |
|
|
|
|
(32,592,054 |
) |
MOR-1b
PREPETITION
MOR-1, Line 22 - List.
|
4700000000 Deferred Tax Liability |
|
(33,149,692 |
) |
|
4800000000 Asset Retirement Obligation Long Term |
|
(1,645,725 |
) |
|
|
|
(34,795,417 |
) |
MOR-1c
|
June Adjustments to Inter Company |
|
(215,394 |
) |
|
|
|
|
|
|
Net Total |
|
(215,394 |
) |
MOR-2a
Line 21 - Other
|
June 1 - 30 Ad Valorem tax Estimate |
|
21,984 |
|
|
|
|
|
|
|
Total Post Petition Ad Valorem Taxes |
|
21,984 |
|
MOR-2b
|
April Severance Taxes |
|
12,400 |
|
|
|
|
|
|
|
May Severance Taxes |
|
11,800 |
|
|
|
|
|
|
|
June Severance Taxes |
|
12,500 |
|
|
|
|
|
|
|
Total |
|
36,700 |
|
MOR-3a
Line 25 - Other Expenses
|
June 2012 |
|
|
|
|
|
|
|
|
|
LOE Payments General |
|
230,338 |
|
|
Adjustment |
|
(142 |
) |
|
Royalty Checks - April 2012 Sales |
|
78,902 |
|
|
Lease Operating Expense LOE |
|
309,098 |
|
MOR-4a
|
April Severance Taxes* |
|
12,400 |
|
|
|
|
|
|
|
May Severance Taxes* |
|
11,800 |
|
|
|
|
|
|
|
June Severance Taxes* |
|
12,500 |
|
|
|
|
|
|
|
Total Post Petition Severance Taxes |
|
36,700 |
|
* Estimated Taxes
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: June 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 |
|
7/20/2012 |
|
PRINTED NAME OF RESPONSIBLE PARTY |
|
DATE |
|
|
|
|
|
|
|
|
|
PREPARER: |
|
|
|
|
|
|
|
/s/ Adrian Lamberti |
|
Controller |
|
ORIGINAL SIGNATURE OF PREPARER |
|
TITLE |
|
|
|
|
|
Adrian Lamberti |
|
7/20/2012 |
|
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 |
|
June 2012 |
|
July 2012 |
|
August 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.
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Monthly Operating Report |
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CASE NAME: W.O. Production Company, Ltd. |
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ACCRUAL BASIS-2 |
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CASE NUMBER: 12-31557-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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June 2012 |
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July 2012 |
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August 2012 |
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REVENUES |
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1. |
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GROSS REVENUES |
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2. |
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LESS: RETURNS & DISCOUNTS |
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3. |
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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. |
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MATERIAL |
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5. |
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DIRECT LABOR |
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6. |
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DIRECT OVERHEAD |
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7. |
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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. |
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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. |
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OFFICER / INSIDER COMPENSATION |
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10. |
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SELLING & MARKETING |
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11. |
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GENERAL & ADMINISTRATIVE |
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12. |
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RENT & LEASE |
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13. |
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OTHER (ATTACH LIST) |
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14. |
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TOTAL OPERATING EXPENSES |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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15. |
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INCOME BEFORE NON-OPERATING INCOME & EXPENSE |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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OTHER INCOME & EXPENSES |
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16. |
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NON-OPERATING INCOME (ATT. LIST) |
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17. |
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NON-OPERATING EXPENSE (ATT. LIST) |
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18. |
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INTEREST EXPENSE |
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19. |
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DEPRECIATION / DEPLETION |
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20. |
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AMORTIZATION |
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21. |
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OTHER (ATTACH LIST) |
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22. |
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NET OTHER INCOME & EXPENSES |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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REORGANIZATION EXPENSES |
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23. |
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PROFESSIONAL FEES |
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24. |
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U.S. TRUSTEE FEES (1) |
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25. |
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OTHER (ATTACH LIST) |
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26. |
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TOTAL REORGANIZATION EXPENSES |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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27. |
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INCOME TAX |
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28. |
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NET PROFIT (LOSS) |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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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.
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Monthly Operating Report |
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CASE NAME: W.O. Production Company, Ltd. |
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ACCRUAL BASIS-3 |
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CASE NUMBER: 12-31557-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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June 2012 |
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July 2012 |
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August 2012 |
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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 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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RECEIPTS FROM OPERATIONS |
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2. |
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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. |
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POSTPETITION |
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5. |
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TOTAL OPERATING RECEIPTS |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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NON-OPERATING RECEIPTS |
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6. |
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LOANS & ADVANCES (ATTACH LIST) |
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7. |
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SALE OF ASSETS |
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8. |
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OTHER (ATTACH LIST) |
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9. |
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TOTAL NON-OPERATING RECEIPTS |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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10. |
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TOTAL RECEIPTS |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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11. |
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TOTAL CASH AVAILABLE |
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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 DISBURSEMENTS |
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12. |
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NET PAYROLL |
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13. |
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PAYROLL TAXES PAID |
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14. |
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SALES, USE & OTHER TAXES PAID |
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15. |
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SECURED / RENTAL / LEASES |
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16. |
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UTILITIES |
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17. |
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INSURANCE |
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18. |
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INVENTORY PURCHASES |
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19. |
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VEHICLE EXPENSES |
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20. |
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TRAVEL |
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21. |
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ENTERTAINMENT |
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22. |
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REPAIRS & MAINTENANCE |
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23. |
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SUPPLIES |
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24. |
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ADVERTISING |
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25. |
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OTHER (ATTACH LIST) |
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26. |
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TOTAL OPERATING DISBURSEMENTS |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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REORGANIZATION EXPENSES |
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27. |
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PROFESSIONAL FEES |
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28. |
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U.S. TRUSTEE FEES |
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29. |
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OTHER (ATTACH LIST) |
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30. |
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TOTAL REORGANIZATION EXPENSES |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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31. |
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TOTAL DISBURSEMENTS |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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32. |
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NET CASH FLOW |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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33. |
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CASH - END OF MONTH |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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Monthly Operating Report |
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CASE NAME: W.O. Production Company, Ltd. |
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ACCRUAL BASIS-4 |
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CASE NUMBER: 12-31557-bjh-11 |
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SCHEDULE |
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MONTH |
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MONTH |
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MONTH |
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ACCOUNTS RECEIVABLE AGING |
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AMOUNT |
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June 2012 |
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July 2012 |
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August 2012 |
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1. |
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0-30 |
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2. |
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31-60 |
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3. |
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61-90 |
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4. |
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91+ |
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5. |
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TOTAL ACCOUNTS RECEIVABLE |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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6. |
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AMOUNT CONSIDERED UNCOLLECTIBLE |
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7. |
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ACCOUNTS RECEIVABLE (NET) |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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AGING OF POSTPETITION TAXES AND PAYABLES |
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MONTH: |
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June 2012 |
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0-30 |
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31-60 |
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61-90 |
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91+ |
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TAXES PAYABLE |
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DAYS |
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DAYS |
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DAYS |
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DAYS |
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TOTAL |
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1. |
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FEDERAL |
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2. |
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STATE |
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3. |
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LOCAL |
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4. |
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OTHER (ATTACH LIST) |
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5. |
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TOTAL TAXES PAYABLE |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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6. |
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ACCOUNTS PAYABLE |
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STATUS OF POSTPETITION TAXES |
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MONTH: |
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June 2012 |
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BEGINNING |
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AMOUNT |
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ENDING |
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TAX |
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WITHHELD AND/ |
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AMOUNT |
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TAX |
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LIABILITY* |
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0R ACCRUED |
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PAID |
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LIABILITY |
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FEDERAL |
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1. |
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WITHHOLDING** |
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2. |
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FICA-EMPLOYEE** |
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3. |
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FICA-EMPLOYER** |
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4. |
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UNEMPLOYMENT |
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5. |
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INCOME |
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6. |
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OTHER (ATTACH LIST) |
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7. |
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TOTAL FEDERAL TAXES |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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STATE AND LOCAL |
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8. |
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WITHHOLDING |
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9. |
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SALES |
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10. |
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EXCISE |
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11. |
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UNEMPLOYMENT |
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12. |
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REAL PROPERTY |
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13. |
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PERSONAL PROPERTY |
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| ||||
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14. |
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OTHER (ATTACH LIST) |
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| ||||
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15. |
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TOTAL STATE & LOCAL |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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|
16. |
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TOTAL TAXES |
|
$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
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.
|
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|
Monthly Operating Report |
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|
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|
CASE NAME: W.O. Production Company, Ltd. |
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ACCRUAL BASIS-5 |
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CASE NUMBER: 12-31557-bjh-11 |
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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.
|
BANK RECONCILIATIONS |
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MONTH: |
|
June 2012 |
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|
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| ||||
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| ||||
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Account #1 |
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Account #2 |
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Account #3 |
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| ||||
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A. |
BANK: |
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B. |
ACCOUNT NUMBER: |
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| |||
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C. |
PURPOSE (TYPE): |
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TOTAL |
| |||
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1. |
BALANCE PER BANK STATEMENT |
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|
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|
| |||
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2. |
ADD: TOTAL DEPOSITS NOT CREDITED |
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|
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| |||
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3. |
SUBTRACT: OUTSTANDING CHECKS |
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|
| |||
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4. |
OTHER RECONCILING ITEMS |
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|
|
|
|
|
|
|
| |||
|
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 |
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INSTRUMENT |
|
PRICE |
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VALUE |
| |||
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7. |
|
|
|
|
|
|
|
|
| |||
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8. |
|
|
|
|
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|
| |||
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9. |
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| |||
|
10. |
|
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|
|
|
|
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|
| |||
|
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 |
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|
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MONTH: June 2012 |
|
|
|
|
|
PAYMENTS TO INSIDERS AND PROFESSIONALS |
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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.
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INSIDERS |
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TYPE OF |
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AMOUNT |
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TOTAL PAID |
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NAME |
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PAYMENT |
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PAID |
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TO DATE |
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1. |
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2. |
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3. |
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4. |
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5. |
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6. |
TOTAL PAYMENTS TO INSIDERS |
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$ |
0 |
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$ |
0 |
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PROFESSIONALS | ||||||||||||||||
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DATE OF COURT |
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TOTAL |
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ORDER AUTHORIZING |
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AMOUNT |
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AMOUNT |
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TOTAL PAID |
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INCURRED |
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NAME |
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PAYMENT |
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APPROVED |
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PAID |
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TO DATE |
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& UNPAID * |
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1. |
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2. |
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3. |
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4. |
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5. |
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6. |
TOTAL PAYMENTS TO PROFESSIONALS |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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* INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
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SCHEDULED |
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AMOUNTS |
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MONTHLY |
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PAID |
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TOTAL |
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PAYMENTS |
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DURING |
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UNPAID |
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NAME OF CREDITOR |
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DUE |
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MONTH |
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POSTPETITION |
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1. |
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2. |
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3. |
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4. |
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5. |
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6. |
TOTAL |
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$ |
0 |
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$ |
0 |
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$ |
0 |
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Monthly Operating Report |
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CASE NAME: W.O. Production Company, Ltd. |
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ACCRUAL BASIS-7 |
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CASE NUMBER: 12-31557-bjh-11 |
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MONTH: |
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June 2012 |
QUESTIONNAIRE
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YES |
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NO |
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1. |
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HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? |
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X |
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2. |
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HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? |
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X |
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3. |
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ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? |
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X |
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4. |
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HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? |
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X |
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5. |
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HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? |
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X |
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6. |
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ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? |
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X |
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7. |
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ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? |
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X |
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8. |
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ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? |
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X |
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9. |
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ARE ANY OTHER POSTPETITION TAXES PAST DUE? |
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X |
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10. |
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ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? |
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X |
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11. |
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HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? |
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X |
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12. |
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ARE ANY WAGE PAYMENTS PAST DUE? |
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X |
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IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “YES,” PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
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INSURANCE | ||||||
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YES |
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NO |
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1. |
ARE WORKER’S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? |
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X |
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2. |
ARE ALL PREMIUM PAYMENTS PAID CURRENT? |
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X |
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3. |
PLEASE ITEMIZE POLICIES BELOW. |
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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.
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INSTALLMENT PAYMENTS | |||||||
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TYPE OF |
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PAYMENT AMOUNT |
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POLICY |
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CARRIER |
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PERIOD COVERED |
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& FREQUENCY |
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General Liability Insurance |
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ACE American Insurance |
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8/16/2011 to 8/16/2012 |
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Fully paid at time |
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Business Auto |
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ACE American Insurance |
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8/16/2011 to 8/16/2012 |
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of preparation |
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Umbrella |
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ACE Property & Casualty |
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8/16/2011 to 8/16/2012 |
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Umbrella Extension |
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Gotham Insurance Company |
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8/16/2011 to 8/16/2012 |
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Marine Insurance |
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AGCS Marine Insurance Co. |
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8/16/2011 to 8/16/2012 |
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COW |
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Lloyds of London |
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8/16/2011 to 8/16/2012 |
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