EX-99.2 3 v429828_ex99-2.htm EXHIBIT 99.2

 

Exhibit 99.2

 

UNITED STATES BANKRUPTCY COURT

DISTRICT OF DELAWARE

 

In re: Axion International, Inc. Case No.: 15-12415
  Reporting Period: December 2 to 31, 2015

 

MONTHLY OPERATING REPORT

File with Court and submit copy to United States Trustee within 20 days after end of month

 

Submit copy of report to any official committee appointed in the case.

 

        Document   Explanation   Affidavit/Supplement
REQUIRED DOCUMENTS   Form No.   Attached   Attached   Attached
Schedule of Cash Receipts and Disbursements   MOR-1   Y       Y
Bank Reconciliation (or copies of debtor's bank reconciliations)   MOR-1a   Y        
Schedule of Professional Fees Paid   MOR-1b   Y        
Copies of bank statements       Y        
Cash disbursements journals       Y        
Statement of Operations   MOR-2   Y        
Balance Sheet   MOR-3   Y        
Status of Postpetition Taxes   MOR-4   Y        
Copies of IRS Form 6123 or payment receipt       N        
Copies of tax returns filed during reporting period       N        
Summary of Unpaid Postpetition Debts   MOR-4   Y        
Listing of aged accounts payable   MOR-4   Y        
Accounts Receivable Reconciliation and Aging   MOR-5   Y        
Debtor Questionnaire   MOR-5   Y       Y

 

I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.

 

/s/ Donald W. Fallon   January 20, 2016
Signature of Debtor   Date
     
/s/ Donald W. Fallon   January 20, 2016
Signature of Joint Debtor   Date
     
/s/ Donald W. Fallon   January 20, 2016
Signature of Authorized Individual*   Date
     
Donald W. Fallon   CFO & Treasurer
Printed Name of Authorized Individual   Title of Authorized Individual

 

*Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.

 

MOR

(04/07)

 

 

 

 

In re Axion International, Inc. Case No. 15-12415 (15-12416 & 15-12417)
Debtor Reporting Period: December 2, 2015 to December 31, 2015

 

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

 

Amounts reported should be per the debtor's books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the "CURRENT MONTH - ACTUAL" column must equal the sum of the four bank account columns. The amounts reported in the "PROJECTED" columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1) . Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each account. [See MOR-1 (CON'T)]

 

   BANK ACCOUNTS   CURRENT MONTH   CUMULATIVE FILING TO DATE 
   OPER.   PAYROLL   TAX   Utility Dep   ACTUAL   PROJECTED   ACTUAL   PROJECTED 
CASH BEGINNING  OF MONTH  $35,883   $569   $-   $-   $36,452   $3,050   $36,452   $3,050 
                                         
RECEIPTS                                        
CASH  SALES  $-   $-   $-   $-   $-        $-   $- 
ACCOUNTS RECEIVABLE  $2,141,648                  $2,141,648   $2,146,261   $2,141,648   $2,146,261 
LOANS AND ADVANCES  $650,000   $-   $-   $-   $650,000   $650,000   $650,000   $650,000 
SALE  OF  ASSETS  $4,750                  $4,750        $4,750   $- 
OTHER  (ATTACH  LIST)  $(5,727)                 $(5,727)       $(5,727)  $- 
TRANSFERS  (FROM  DIP ACCTS)       $304,500             $304,500        $304,500   $- 
                                         
TOTAL  RECEIPTS  $2,790,671   $304,500   $-   $-   $3,095,171   $2,796,261   $3,095,171   $2,796,261 
                                         
DISBURSEMENTS                                        
NET PAYROLL  $96,688   $230,227             $326,915   $480,358   $326,915   $480,358 
PAYROLL TAXES  $34,603   $76,045             $110,648        $110,648   $- 
EMPLOYEE BENEFITS  $43,623   $-             $43,623   $20,816   $43,623   $20,816 
SALES, USE, & OTHER TAXES                      $-        $-   $- 
INVENTORY PURCHASES  $349,920                  $349,920   $593,372   $349,920   $593,372 
SECURED/ RENTAL/ LEASES  $48,896                  $48,896   $50,525   $48,896   $50,525 
INSURANCE  $148,922                  $148,922   $148,346   $148,922   $148,346 
ADMINISTRATIVE  $7,736                  $7,736   $17,727   $7,736   $17,727 
SELLING                      $-        $-   $- 
OTHER  (ATTACH  LIST)  $130,583                  $130,583   $736,321   $130,583   $736,321 
                       $-        $-   $- 
OWNER DRAW *                      $-        $-   $- 
TRANSFERS (TO DIP ACCTS)  $304,500                  $304,500   $-   $304,500   $- 
                       $-        $-   $- 
PROFESSIONAL FEES  $120,000                  $120,000   $160,000   $120,000   $160,000 
U.S. TRUSTEE  QUARTERLY FEES                      $-   $25,000   $-   $25,000 
COURT COSTS                      $-        $-   $- 
TOTAL DISBURSEMENTS  $1,285,471   $306,272   $-   $-   $1,591,743   $2,232,465   $1,591,743   $2,232,465 
                                         
NET CASH FLOW  $1,505,200   $(1,772)  $-   $-   $1,503,428   $563,796   $1,503,428   $563,796 
(RECEIPTS LESS DISBURSEMENTS)                                        
                                         
CASH - END OF MONTH  $1,541,083   $(1,203)  $-   $-   $1,539,880   $566,846   $1,539,880   $566,846 

 

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

 

THE FOLLOWING SECTION MUST BE COMPLETED

 

DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN)     
TOTAL DISBURSEMENTS  $1,591,743 
LESS:  TRANSFERS TO DEBTOR IN POSSESSION  ACCOUNTS  $(304,500)
PLUS:   ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES  (i.e. from escrow accounts)  $ 
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES  $1,287,243 

 

FORM MOR-1

(04/07)

 

 

 

 

In re Axion International, Inc. Case No. 15-12415 (15-12416 & 15-12417)
Debtor Reporting Period: December 2, 2015 to December 31, 2015

 

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

 

ATTACHED LISTS TO MOR-1

 

CASH BEGINNING OF MONTH - 11/30/15 vs 12/2/15 
   OPER   PAYROLL 
Balance at 11/30/15 per Bank Reconciliation   133,852    569 
12/1/2015 transactions (prepetition)   (97,969)     
           
Cash Beginning of Month, per this Schedule   35,883    569 

 

Other Receipts List:
AR Terms Discounts   (5,727)

 

Other Disbursements List: 
Description  Actual   Projected 
Utility Deposits   26,453    40,000 
Freight   46,169    141,000 
Operating Expenses - Texas Facility   18,035    80,254 
Operating Expenses - Ohio Facility   11,917    25,876 
Emergency Repairs - Texas facility   22,810    57,146 
Restart Extruder #1 - Texas Facility   5,199    80,000 
Legal - commercial/corporate counsel        90,000 
Audit & Tax Professional        50,000 
Interest - State of Ohio laon        7,970 
Interest - DiP Loan        8,633 
Budget Variance @ 10%   -    155,442 
TOTAL   130,583    736,321 

 

PAYROLLS 
Description  Actual   Projected 
   12/4/15   12/18/15   12/31/15   Total   Operating   Payroll     
                             
Net  $108,346   $96,628   $96,688   $301,662    96,688    204,974      
Fee   1,247    1,221    1,221    3,688         3,688      
401(k)   3,017    2,419    2,463    7,898         7,898      
Garnishments   3,700    3,601    3,614    10,915         10,915      
Taxes   42,353    33,692    34,603    110,648    34,603    76,045      
AFLAC   328         219    547    547           
Health             25,498    25,498    25,498           
Dental             1,566    1,566    1,566           
Life             243    243    243           
HSA Reimb   253         2,500    2,753         2,753      
TX workers comp             4,389    4,389    4,389           
OH workers comp             11,380    11,380    11,380           
TOTAL  $159,243   $137,561   $184,383   $481,186   $174,914   $306,272      
                                    
Net Payroll   116,562    103,868    106,485    326,915    96,688    230,227    480,358 
Payroll Taxes   42,353    33,692    34,603    110,648    34,603    76,045    - 
Employee Benefits   328    -    43,295    43,623    43,623    -    20,816 
TOTAL  $159,243   $137,561   $184,383   $481,186   $174,914   $306,272   $501,174 

 

FORM MOR-1

(04/07)

 

 

 

 

In re Axion International, Inc. Case No. 15-12415
Debtor Reporting Period: December 2 to 31, 2015

 

BANK RECONCILIATIONS - OPERATING ACCOUNT
 
Continuation Sheet for MOR-1
 
A bank reconciliation must be included for each bank account.  The debtor's bank reconciliation may be substituted for this page.

 

Month: December 31, 2015     GL Account #   CZ1060

 

General Ledger Reconciliation  Per the Bank
                
Balance per GL- Begin of Period       $133,851.76   Ending Balance per Bank Statement  $1,619,209.38 
                   
Plus:        2,791,220.89   Plus: Outstanding Deposits     
Deposits   2,791,220.89              
                   
Transfer from Payroll Acct                  
                   
Less:        (1,383,933.16)  Less: Outstanding Disbursements   (78,069.89)
Disbursements   947,877.57              
Bank Charges   265.00    1231PNCOA        
Transfer to Other Acct - AXI PNC PR   435,790.59    1231PNCOA        
                   
Balance per GL - End of Period       $1,541,139.49   Reconciled Balance per the Bank  $1,541,139.49 
             Difference   - 

 

Outstanding Disbursements:
AP CK#     AP Amount 
11422  CENTRAL TEXAS SECURITY & FIRE   16,648.85 
11432  AEP ENERGY, INC.   17,952.87 
DEBIT 122215  FALCON INDUSTRIES INC   161.60 
11440  ANTHEM BCBS OH GROUP   25,498.45 
11441  ANTHEM DENTAL   1,566.04 
11442  ANTHEM LIFE   243.00 
11443  OHIO BUREAU OF WORKERS' COMPEN   11,380.48 
11444  CHEM-AQUA, INC.   583.00 
11445  CITY OF WACO WATER OFFICE   1,280.18 
11447  RING CENTRAL   1,081.58 
11448  SUNBRIGHT DISPOSAL SERVICES   202.64 
11449  SUNBELT RENTALS   1,274.67 
11450  COMDOC   196.53 
         
       78,069.89 

 

FORM MOR-1a

 

 

 

 

In re Axion International, Inc. Case No. 15-12415
Debtor Reporting Period: December 2 to 31, 2015

 

BANK RECONCILIATIONS - PAYROLL ACCOUNT

 

Continuation Sheet for MOR-1

 

A bank reconciliation must be included for each bank account. The debtor's bank reconciliation may be substituted for this page.

 

Month: December 31, 2015     GL Account #   CZ1070

 

General Ledger Reconciliation  Per the Bank
                
Balance per GL- Begin of Period       $568.88   Ending Balance per Bank Statement  $915.94 
                   
Plus:        304,500.00   Plus: Outstanding Deposits   - 
Deposits   304,500.00              
                   
Less:        (306,272.13)  Less: Outstanding Disbursements     
Disbursements   303,519.42        Disbursements (Column 1)   (2,119.19)
Paychex Fee                  
FSA Reimbursement   2,578.71              
FSA Reimbursement   174.00              
                   
Balance per GL - End of Period       $(1,203.25)  Reconciled Balance per the Bank  $(1,203.25)
             Difference   - 
                   
Outstanding Deposits:            FSA balance in account   1,846.26 
             Diff in 401K w/h 1/16/15 & 3/13/15 pay   272.93 
                   
             Total Outstanding Checks:   2119.19 

 

FORM MOR-1a

 

 

 

 

In re Axion International, Inc. Case No. 15-12415 (15-12416 & 15-12417)
Debtor Reporting Period: December 2 to 31, 2015

 

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

 

This schedule is to include all retained professional payments from case inception to current month

 

        Amount       Check   Amount Paid   Year-To-Date
Payee   Period Covered  

Approved

   Payor   Number   Date   Fees   Expenses   Fees   Expenses
                                     
                                     
                                     
                                     
                                     
    NONE    
                                     
                                     
                                     
                                     
                                     

 

Professional fees listed on MOR-1 is based on estimated fees and was transferred to Bayard’s trust account in anticipation of payment of these fees.  MOR-1b will be updated with actual payments when they are disbursed from the trust account.

 

FORM MOR-1b

(04/07)

 

 

 

 

In re: Axion International, Inc. Case No.: 15-12415
Debtor Reporting Period: December 2 to 31, 2015

 

STATEMENT OF OPERATIONS

(Income Statement)

 

The Statement of Operations is to be prepared on an accrual basis. The accrual basis of accounting recognizes revenue when it is realized and expenses when they are incurred, regardless of when cash is actually received or paid.

 

       Cumulative 
REVENUES  Month   Filing to Date 
Gross Revenues  $661,714   $661,714 
Less:  Returns and Allowances  $-   $- 
Net Revenue  $661,714   $661,714 
COST OF GOODS SOLD          
Beginning Inventory  $1,802,493   $1,802,493 
Add: Purchases  $324,819   $324,819 
Add: Cost of Labor & Production Costs  $446,694   $446,694 
Add: Other Costs (attach schedule)  $81,565   $81,565 
Less: Ending Inventory  $(1,493,482)  $(1,493,482)
Cost of Goods Sold  $1,162,087   $1,162,087 
Gross Profit  $(500,374)  $(500,374)
OPERATING EXPENSES          
Personnel Costs - Sales & Marketing  $37,909   $37,909 
Personnel Costs - General & Administrative  $86,989   $86,989 
Travel & Meals  $18,734   $18,734 
Advertising & Trade Shows  $4,694   $4,694 
Office Expenses  $4,094   $4,094 
Board of Directors  $(12,074)  $(12,074)
Investor Relations & Shareholders Services  $1,440   $1,440 
Insurance  $31,259   $31,259 
Legal & Other Professional Fees  $498   $498 
Other (attach schedule)          
Total Operating Expenses Before Depreciation  $173,543   $173,543 
Depreciation/Depletion/Amortization  $10,196   $10,196 
Net Profit (Loss) Before Other Income & Expenses  $(684,112)  $(684,112)
OTHER INCOME AND EXPENSES          
Other Income (attach schedule)          
Interest Expense  $(21,229)  $(21,229)
Other Expense (attach schedule)          
Net Profit (Loss) Before Reorganization Items  $(662,884)  $(662,884)
REORGANIZATION ITEMS          
Professional Fees  $120,000   $120,000 
U. S. Trustee Quarterly Fees          
Interest Earned on Accumulated Cash from Chapter 11 (see continuation sheet)          
Gain (Loss) from Sale of Equipment          
Other Reorganization Expenses (attach schedule)          
Total Reorganization Expenses          
Income Taxes          
Net Profit (Loss)  $(782,884)  $(782,884)

 

*"Insider" is defined in 11 U.S.C. Section 101(31).

 

FORM MOR-2

(04/07)

 

 

 

 

In re: Axion International, Inc. Case No.: 15-12415
Debtor Reporting Period: December 2 to 31, 2015                 

 

STATEMENT OF OPERATIONS - continuation sheet

 

       Cumulative 
BREAKDOWN OF "OTHER" CATEGORY  Month   Filing to Date 
           
Other Costs          
Freight costs to customers  $30,214   $30,214 
Royalties Under License  $9,154   $9,154 
Purchasing & Product Development departments  $42,196   $42,196 
           
Other Operational Expenses          
           
           
           
           
Other Income          
           
           
           
           
Other Expenses          
           
           
           
           
Other Reorganization Expenses          
           
           
           
           

 

Reorganization Items - Interest Earned on Accumulated Cash from Chapter 11:

Interest earned on cash accumulated during the chapter 11 case, which would not have been earned but for the bankruptcy proceeding, should be reported as a reorganization item.

 

FORM MOR-2 CONT'D

(04/07)

 

 

 

 

In re Axion International, Inc. Case No. 15-12415
Debtor Reporting Period: December 2 to 31, 2015

 

BALANCE SHEET

 

The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be classified separately from postpetition obligations.

 

   BOOK VALUE AT END OF   BOOK VALUE ON 
   CURRENT REPORTING MONTH   PETITION DATE 
ASSETS          
CURRENT ASSETS          
Unrestricted Cash and Equivalents  $1,539,936   $134,421 
Restricted Cash and Cash Equivalents (see continuation sheet)  $-   $- 
Accounts Receivable (Net)  $559,964   $2,034,172 
Notes Receivable  $-   $- 
Inventories  $1,493,482   $1,803,405 
Prepaid Expenses  $341,036   $114,429 
Professional Retainers  $-   $- 
Other Current Assets (attach schedule)  $-   $- 
TOTAL CURRENT ASSETS  $3,934,419   $4,086,426 
PROPERTY AND EQUIPMENT          
Real Property and Improvements       $- 
Machinery and Equipment  $11,489,380   $11,484,181 
Furniture, Fixtures and Office Equipment  $259,596   $259,596 
Leasehold Improvements  $36,467   $19,818 
Vehicles  $-   $- 
Less Accumulated Depreciation  $(3,428,608)  $(3,320,092)
TOTAL PROPERTY & EQUIPMENT  $8,356,835   $8,443,503 
OTHER ASSETS          
Loans to Insiders*  $-   $- 
Other Assets (attach schedule)  $-   $- 
TOTAL OTHER ASSETS  $-   $- 
           
TOTAL ASSETS  $12,291,254   $12,529,929 
           
   BOOK VALUE AT END OF   BOOK VALUE ON 
   CURRENT REPORTING MONTH   PETITION DATE 
LIABILITIES AND OWNER EQUITY          
LIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition)          
Accounts Payable  $55,451   $- 
Taxes Payable (refer to FORM MOR-4)  $102,185   $73,275 
Wages Payable  $79,270   $202,788 
Notes Payable  $-   $- 
Rent / Leases - Building/Equipment  $573,985   $554,793 
Secured Debt / Adequate Protection Payments  $850,000   $200,000 
Professional Fees  $-   $- 
Amounts Due to Insiders*  $-   $- 
Other Postpetition Liabilities (attach schedule)  $792,602   $673,980 
TOTAL POSTPETITION LIABILITIES  $2,453,492   $1,704,837 
LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)          
Secured Debt  $9,404,946   $9,386,118 
Priority Debt  $-   $- 
Unsecured Debt  $6,871,971   $7,083,172 
TOTAL PRE-PETITION LIABILITIES  $16,276,917   $16,469,290 
           
TOTAL LIABILITIES  $18,730,409   $18,174,127 
OWNER EQUITY          
Capital Stock  $54,725,760   $54,737,834 
Additional Paid-In Capital  $-   $- 
Preferred Stock  $4,079,980   $4,079,980 
Owner's Equity Account  $-   $- 
Retained Earnings - Pre-Petition  $(64,462,011)  $(64,462,011)
Retained Earnings - Postpetition  $(782,884)  $- 
Adjustments to Owner Equity (attach schedule)  $-   $- 
Postpetition Contributions (Distributions) (Draws) (attach schedule)  $-   $- 
NET OWNER EQUITY  $(6,439,155)  $(5,644,197)
           
TOTAL LIABILITIES AND OWNERS' EQUITY  $12,291,254   $12,529,929 

 

*"Insider" is defined in 11 U.S.C. Section 101(31).

 

FORM MOR-3

(04/07)

 

 

 

 

In re: Axion International, Inc. Case No.: 15-12415
Debtor Reporting Period: December 2 to 31, 2015

 

BALANCE SHEET - continuation sheet

 

   BOOK VALUE AT END OF   BOOK VALUE ON 
ASSETS  CURRENT REPORTING MONTH   PETITION DATE 
Other Current Assets          
           
           
           
Other Assets          
           
           
           
           
   BOOK VALUE AT END OF   BOOK VALUE ON 
LIABILITIES AND OWNER EQUITY  CURRENT REPORTING MONTH   PETITION DATE 
Other Postpetition Liabilities          
Customer deposit  $172,050   $167,300 
Sales tax payable  $45,141   $45,141 
Ford credit truck loan  $20,873   $21,261 
Bureau of Workers Comp - Ohio  $22,102   $16,577 
Royalties payable  $158,515   $147,503 
Accrued interest  $336,024   $276,198 
Miscellaneous month-end cutoff invoices  $37,897      
           
Adjustments to Owner Equity          
           
           
           
Postpetition Contributions (Distributions) (Draws)          
           
           
           

 

Restricted Cash is cash that is restricted for a specific use and not available to fund operations. Typically, restricted cash is segregated into a separate account, such as an escrow account.

 

FORM MOR-3 CONT'D

(04/07)

 

 

 

 

In re: Axion International, Inc. Case No. 15-12415
Debtor Reporting Period: December 2 to 31, 2015

 

STATUS OF POSTPETITION TAXES

 

The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero. Attach photocopies of IRS Form 6123 or payment receipt to verify payment or deposit of federal payroll taxes. Attach photocopies of any tax returns filed during the reporting period.

 

    Beginning   Amount               Ending
    Tax   Withheld or   Amount   Date   Check No.   Tax
Federal   Liability   Accrued   Paid   Paid   or EFT   Liability
Withholding                        
FICA-Employee                        
FICA-Employer   Through our payroll processor, Paychex, we have remitted and filed our tax returns when due.
Unemployment      
Income      
Other:_________________                        
Total Federal Taxes                        
State and Local                        
Withholding                        
Sales                        
Excise   Through our payroll processor, Paychex, we have remitted and filed our tax returns when due.
Unemployment      
Real Property      
Personal Property                        
Other:_________________                        
Total State and Local                        
Total Taxes                        

 

SUMMARY OF UNPAID POSTPETITION DEBTS

 

Attach aged listing of accounts payable.

 

       Number of Days Past Due     
   Current   0-30   31-60   61-90   Over 90   Total 
Accounts Payable  $55,451   $-   $-   $-   $-   $55,451 
Wages Payable  $79,270   $-   $-   $-   $-   $79,270 
Taxes Payable  $102,185   $-   $-   $-   $-   $102,185 
Rent/Leases-Building  $573,985   $-   $-   $-   $-   $573,985 
Rent/Leases-Equipment                           $- 
Secured Debt/Adequate Protection Payments  $850,000   $-   $-   $-   $-   $850,000 
Professional Fees                           $- 
Amounts Due to Insiders*                           $- 
Other:__________________________                           $- 
Other:__________________________                           $- 
Total Postpetition Debts  $1,660,890   $-   $-   $-   $-   $1,660,890 

 

Explain how and when the Debtor intends to pay any past-due postpetition debts.

 

*"Insider" is defined in 11 U.S.C. Section 101(31).

 

FORM MOR-4

(04/07)

 

 

 

 

AXION INTERNATIONAL INC

Aged Payables

As of Dec 31, 2015

 

Filter Criteria includes: 1) Includes Drop Shipments. Report order is by ID. Report is printed in Detail Format.

 

Vendor ID  Vendor  Date  Date Due  Invoice/CM #   0 - 30   31 - 60   61 - 90   Over 90 days   Amount Due   Vendor Type
ADVA01  ADVANCED POLYMERS SUPPLY INC.  12/22/15  1/1/16  1555    1,938.00                   1,938.00   RAW
                                          
ADVA01  ADVANCED POLYMERS SUPPLY INC.             1,938.00                   1,938.00    
                                          
AFLA01  AFLAC  12/13/15  1/1/16  173626    218.76                   218.76   INSURANC
                                          
AFLA01  AFLAC             218.76                   218.76    
                                          
AMER02  AMERIGAS  12/9/15  2/7/16  3046870588    355.51                   355.51   MRO
AMER02  AMERIGAS  12/11/15  2/9/16  3046950912    136.90                   136.90   MRO
AMER02  AMERIGAS  12/19/15  1/17/16  3047191005    256.28                   256.28   MRO
AMER02  AMERIGAS  12/31/15  2/29/16  3047548113    328.47                   328.47   MRO
                                          
AMER02  AMERIGAS             1,077.16                   1,077.16    
                                          
ATMO01  ATMOS ENERGY  12/23/15  1/7/16  4006695809DEC   261.19                   261.19   UTILITY
                                          
ATMO01  ATMOS ENERGY             261.19                   261.19    
                                          
ATMO02  ATMOS ENERGY  12/29/15  1/13/16  3046665508DEC   111.35                   111.35   UTILITY
                                          
ATMO02  ATMOS ENERGY             111.35                   111.35    
                                          
CINT01  CINTAS CORPORATION  12/9/15  1/10/16  637450097    180.62                   180.62   MRO
CINT01  CINTAS CORPORATION  12/16/15  1/10/16  637450466    180.62                   180.62   MRO
CINT01  CINTAS CORPORATION  12/25/15  1/4/16  8402545910    141.04                   141.04   MRO
CINT01  CINTAS CORPORATION  12/30/15  1/10/16  637451213    315.67                   315.67   MRO
                                          
CINT01  CINTAS CORPORATION             817.95                   817.95    
                                          
CITY03  CITY OF ZANESVILLE  12/14/15  1/13/16  11762    111.60                   111.60   UTILITY
                                          
CITY03  CITY OF ZANESVILLE             111.60                   111.60    
                                          
COAS01  COASTAL COMPOUNDED RESINS  12/30/15  12/30/15  4790    3,899.20                   3,899.20   RAW
                                          
COAS01  COASTAL COMPOUNDED RESINS             3,899.20                   3,899.20    
                                          
COSH01  COSHOCTON ENVIRONMENTAL TESTING LLC  12/10/15  1/9/16  632-38187    60.00                   60.00   MRO
COSH01  COSHOCTON ENVIRONMENTAL TESTING LLC  12/21/15  1/20/16  632-38232    60.00                   60.00   MRO
COSH01  COSHOCTON ENVIRONMENTAL TESTING LLC  12/31/15  1/30/16  632-38288    60.00                   60.00   MRO
                                          
COSH01  COSHOCTON ENVIRONMENTAL TESTING LLC             180.00                   180.00    
                                          
DIRE01  DIRECT ENERGY BUSINESS  12/30/15  1/29/16  153640026299016    4,193.01                   4,193.01   UTILITY
                                          
DIRE01  DIRECT ENERGY BUSINESS             4,193.01                   4,193.01    
                                          
DUPU01  DUPUY OXYGEN & SUPPLY  12/16/15  1/15/16  372524    20.19                   20.19   MRO
                                          
DUPU01  DUPUY OXYGEN & SUPPLY             20.19                   20.19    
                                          
FEDE02  FEDEX  12/21/15  1/5/16  5-262-69401    32.53                   32.53   FREIGHT

 

Page:12 

 

 

Vendor ID  Vendor  Date  Date Due  Invoice/CM #   0 - 30   31 - 60   61 - 90   Over 90 days   Amount Due   Vendor Type
FEDE02  FEDEX  12/28/15  1/12/16  5-270-58089    95.50                   95.50   FREIGHT
                                          
FEDE02  FEDEX             128.03                128.03    
              

  

                         
GILB01  GILBERT + TOBIN  12/10/15  1/9/16  312076    497.79                   497.79   PROF
                                          
GILB01  GILBERT + TOBIN             497.79                   497.79    
                                          
GPHA01  GP HARMON RECYCLING LLC  12/18/15  12/18/15  451000869594    14,785.23                   14,785.23   RAW
GPHA01  GP HARMON RECYCLING LLC  12/23/15  12/23/15  451000869593    18,850.65                   18,850.65   RAW
                                          
GPHA01  GP HARMON RECYCLING LLC             33,635.88                   33,635.88    
                                          
KERR01  KERRY D. IRONS, M.D., P.A.  12/30/15  1/29/16  58408    28.00                   28.00   HR
                                          
KERR01  KERRY D. IRONS, M.D., P.A.             28.00                   28.00    
                                          
MUSK02  MUSKINGUM COUNTY UTILITIES  12/16/15  1/15/16  201-01270-02OCT    4,401.31                   4,401.31   UTILITY
                                          
MUSK02  MUSKINGUM COUNTY UTILITIES             4,401.31                   4,401.31    
                                          
PURC01  PITNEY BOWES POSTAGE BY PHONE  12/13/15  1/10/16  STMT121315    3.29                   3.29   LEASE
                                          
PURC01  PITNEY BOWES POSTAGE BY PHONE             3.29                   3.29    
                                          
SAGE01  SAGE SOFTWARE INC  12/28/15  1/27/16  1002993008    2,465.68                   2,465.68   IT
                                          
SAGE01  SAGE SOFTWARE INC             2,465.68                   2,465.68    
                                          
SPOO01  SPOONER INC.  12/29/15  1/28/16  74-123015    175.00                   175.00   INSURANC
                                          
SPOO01  SPOONER INC.             175.00                   175.00    
                                          
SUNB02  SUNBRIGHT DISPOSAL SERVICES  12/8/15  1/7/16  78113    400.36                   400.36   DISPOSAL
SUNB02  SUNBRIGHT DISPOSAL SERVICES  12/11/15  1/10/16  78329    577.86                   577.86   DISPOSAL
                                          
SUNB02  SUNBRIGHT DISPOSAL SERVICES             978.22                   978.22    
                                          
TCEQ01  TEXAS COMMISSION ON ENVIRONMENTAL QUAL  12/31/15  1/30/16  GPS0196489    200.00                   200.00   PROF
                                          
TCEQ01  TEXAS COMMISSION ON ENVIRONMENTAL QUAL             200.00                   200.00    
                                          
TERM01  TERMINIX  12/16/15  1/4/16  350972175    48.26                   48.26   MRO
                                          
TERM01  TERMINIX             48.26                   48.26    
                                          
UPS01  UPS  12/26/15  1/25/16  00011YA17525   60.94                   60.94   FREIGHT
                                          
UPS01  UPS             60.94                   60.94    
                                          
Report Total                55,450.81                   55,450.81    

 

Page:13 

 

 

In re: Axion International, Inc. Case No.: 15-12415
Debtor Reporting Period: December 2 to 31, 2015

 

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

 

Accounts Receivable Reconciliation  Amount 
Total Accounts Receivable at the beginning of the reporting period  $2,103,379 
+ Amounts billed during the period  $667,441 
- Amounts collected during the period  $(2,141,648)
Total Accounts Receivable at the end of the reporting period  $629,172 

 

Accounts Receivable Aging  Amount 
0 - 30 days old  $564,182 
31 - 60 days old  $469 
61 - 90 days old  $- 
91+ days old  $64,521 
Total Accounts Receivable  $629,172 
Amount considered uncollectible (Bad Debt)  $(69,208)
Accounts Receivable (Net)  $559,964 

 

DEBTOR QUESTIONNAIRE

 

Must be completed each month   Yes   No
1.   Have any assets been sold or transferred outside the normal course of business this reporting period?  If yes, provide an explanation below.       No
2.  Have any funds been disbursed from any account other than a debtor in possession account this reporting period?  If yes, provide an explanation below.       No
3.   Have all postpetition tax returns been timely filed?  If no, provide an explanation below.   Yes    
4.   Are workers compensation, general liability and other necessary insurance coverages in effect?  If no, provide an explanation below.   Yes    
5.   Has any bank account been opened during the reporting period?  If yes, provide documentation identifying the opened account(s).  If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.   Yes, Utility Deposit Account on 12/30/15    

 

FORM MOR-5

(04/07)