Exhibit 99.1

 

	Monthly Operating Report
	ACCRUAL BASIS

  

CASE NAME:	Life Partners Holdings, Inc.
CASE NUMBER:	15-40289-rfn-11
JUDGE:	Russell Nelms

 

UNITED STATES BANKRUPTCY COURT

 

NORTHERN & EASTERN DISTRICTS OF TEXAS

 

REGION 6

 

MONTHLY OPERATING REPORT

 

MONTH ENDING:	October		2015
	MONTH		YEAR

 

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/ H. Thomas Moran II		Trustee
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY		TITLE
H. Thomas Moran II		11/20/2015
PRINTED NAME OF RESPONSIBLE PARTY		DATE
PREPARER:
/s/ Colette Pieper		CEO
ORIGINAL SIGNATURE OF PREPARER		TITLE
Colette Pieper		11/20/2015
PRINTED NAME OF PREPARER		DATE

 

 

Monthly Operating Report

ACCRUAL BASIS-1

 

CASE NAME:	Life Partners Holdings, Inc.
CASE NUMBER:	15-40289-rfn-11

 

COMPARATIVE BALANCE SHEET

 

				SCHEDULE AMOUNT				AUGUST				SEPTEMBER				OCTOBER
ASSETS
1.		UNRESTRICTED CASH		$	51,248			$	35,458			$	326,670			$	354,758
2.		RESTRICTED CASH
3.		TOTAL CASH		$	51,248			$	35,458			$	326,670			$	354,758
4.		ACCOUNTS RECEIVABLE (NET)
5.		INVENTORY
6.		NOTES RECEIVABLE
7.		PREPAID EXPENSES						$	168,482			$	504,726			$	468,698
8.		OTHER (ATTACH LIST)		$	76,415			$	95,165			$	84,665			$	84,665
9.		TOTAL CURRENT ASSETS		$	127,664			$	299,105			$	916,061			$	908,120
10.		PROPERTY, PLANT & EQUIPMENT		$	2,188,639			$	2,188,639			$	2,188,639			$	2,188,639
11.		LESS: ACCUMULATED DEPRECIATION/DEPLETION						$	(825,402	)		$	(831,120	)		$	(836,838	)
12.		NET PROPERTY, PLANT & EQUIPMENT		$	2,188,639			$	1,363,237			$	1,357,519			$	1,351,801
13.		DUE FROM INSIDERS
14.		OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST)		$	166,250			$	166,250			$	166,250			$	0
15.		OTHER (ATTACH LIST)
16.		TOTAL ASSETS		$	2,482,552			$	1,828,592			$	2,439,830			$	2,259,921
POSTPETITION LIABILITIES
17.		ACCOUNTS PAYABLE						$	513,595			$	1,054,868			$	1,045,066
18.		TAXES PAYABLE						$	37,923			$	43,071			$	76,683
19.		NOTES PAYABLE
20.		PROFESSIONAL FEES						$	6,536,268			$	6,156,291			$	6,097,578
21.		SECURED DEBT						$	6,521			$	290,616			$	258,193
22.		OTHER (ATTACH LIST)
23.		TOTAL POSTPETITION LIABILITIES						$	7,094,306			$	7,544,846			$	7,477,521
PREPETITION LIABILITIES
24.		SECURED DEBT		$	267,505			$	65,035			$	65,035			$	65,035			1
25.		PRIORITY DEBT		$	3,991,351
26.		UNSECURED DEBT		$	114,283,485			$	1,588,832			$	1,588,832			$	1,588,832			2
27.		OTHER (ATTACH LIST)
28.		TOTAL PREPETITION LIABILITIES		$	118,542,341			$	1,653,867			$	1,653,867			$	1,653,867
29.		TOTAL LIABILITIES		$	118,542,341			$	8,748,174			$	9,198,714			$	9,131,388
EQUITY
30.		PREPETITION OWNERS' EQUITY						$	(73,722,301	)		$	(73,722,301	)		$	(73,722,301	)
31.		POSTPETITION CUMULATIVE PROFIT OR (LOSS)						$	(7,556,986	)		$	(7,578,724	)		$	(7,692,486	)
32.		DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION)						$	74,359,705			$	74,542,142			$	74,543,320			3
33.		TOTAL EQUITY						$	(6,919,582	)		$	(6,758,884	)		$	(6,871,467	)
34.		TOTAL LIABILITIES & OWNERS' EQUITY						$	1,828,592			$	2,439,830			$	2,259,921

 

1

Item 24. Secured Debt includes $3,260.33 accrued property tax for the prepetition period, due post petition.

2

The Schedule Amount for Item 26. Unsecured Debt includes Intercompany Due To/From LPI shown below in Item 32.

3

Intercompany Due To/From Life Partners, Inc.

 

 

Monthly Operating Report

SUPPLEMENT TO

ACCRUAL BASIS-1

 

CASE NAME:	Life Partners Holdings, Inc.
CASE NUMBER:	15-40289-rfn-11

 

COMPARATIVE BALANCE SHEET

 

				SCHEDULE AMOUNT				AUGUST				SEPTEMBER				OCTOBER
8. OTHER CURRENT ASSETS
8.		Pardo Family Holdings Trust (Advance to Price L. Johnson, PC)		$	24,441			$	31,323			$	31,323			$	31,323
8.		Pardo Family Holdings Trust (Advance to Kyle, Mathis & Lucas, LLP)		$	51,975			$	53,343			$	53,343			$	53,343
8.		Rent due from Life Partners, Inc.						$	10,500
8.
8.
8.
8.
8
8.		TOTAL - OTHER CURRENT ASSETS		$	76,415			$	95,165			$	84,665			$	84,665
14. OTHER ASSETS - NET OF AMORTIZATION
14.		Woolly Mammoth & Other Prehistoric Artifacts		$	166,250			$	166,250			$	166,250
14.
14.
14.
14.
14.		TOTAL - OTHER ASSETS (Net of Amort.)		$	166,250			$	166,250			$	166,250			$	-
15. OTHER ASSETS
15.
15.
15.
15.
15.
15.
15.
15.
15.
15.		TOTAL - OTHER ASSETS		$	-			$	-			$	-			$	-
POSTPETITION LIABILITIES
22.
22.
22.
22.
22.
22.
22		TOTAL - OTHER POSTPETITION LIABILITIES						$	-			$	-			$	-

 

 

Monthly Operating Report

ACCRUAL BASIS-2

 

CASE NAME:	Life Partners Holdings, Inc.
CASE NUMBER:	15-40289-rfn-11

 

INCOME STATEMENT				JULY				AUGUST				SEPTEMBER				OCTOBER
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		$	47,520			$	42,251			$	51,554			$	73,439			1
12.		RENT & LEASE										$	0			$	0
13.		OTHER (ATTACH LIST)		$	10,320			$	22,352			$	15,413			$	17,512			1
14.		TOTAL OPERATING EXPENSES		$	57,840			$	64,603			$	66,966			$	90,951
15.		INCOME BEFORE NON-OPERATING INCOME & EXPENSE		$	(57,840	)		$	(64,603	)		$	(66,966	)		$	(90,951	)
OTHER INCOME & EXPENSES
16.		NON-OPERATING INCOME (ATTACH LIST)		$	(10,000	)		$	(10,500	)		$	(10,000	)		$	(10,000	)
17.		NON-OPERATING EXPENSE (ATTACH LIST)										$	0			$	0
18.		INTEREST EXPENSE		$	131			$	36			$	31			$	798
19.		DEPRECIATION / DEPLETION		$	5,718			$	5,718			$	5,718			$	5,718
20.		AMORTIZATION										$	0			$	0
21.		OTHER (ATTACH LIST)		$	0							$	(35,447	)		$	39,133			2
22.		NET OTHER INCOME & EXPENSES		$	(4,152	)		$	(4,746	)		$	(39,698	)		$	35,649
REORGANIZATION EXPENSES
23.		PROFESSIONAL FEES		$	1,314,994			$	804,838			$	(6,279	)		$	(13,826	)		3
24.		U.S. TRUSTEE FEES		$	325							$	71			$	988
25.		OTHER (ATTACH LIST)		$	1,770			$	582			$	669
26.		TOTAL REORGANIZATION EXPENSES		$	1,317,088			$	805,420			$	(5,540	)		$	(12,838	)
27.		INCOME TAX										$	10
28.		NET PROFIT (LOSS)		$	(1,370,776	)		$	(865,276	)		$	(21,738	)		$	(113,762	)

 

1

August figures have been adjusted to reflect $3,333.34 that was reclassified from Other to General & Administrative Expenses.

2

Item 21. Other Income & Expense for September is gain recognized on the sale of the airport hangar. This asset was carried on the books of Life Partners, Inc., but was owned by LPHI, therefore, the corresponding reduction in assets shows on Life Partners, Inc. MOR-1

3

Item 23. Professional Fees for October are negative due to reversing fees previously accrued on LPHI where the invoice received allocate the fees to LPI.

 

 

Monthly Operating Report

SUPPLEMENT TO

ACCRUAL BASIS-2

 

CASE NAME:	Life Partners Holdings, Inc.
CASE NUMBER:	15-40289-rfn-11

 

INCOME STATEMENT				JULY				AUGUST				SEPTEMBER				OCTOBER
OPERATING EXPENSES
13.		LEGAL & PROFESSIONAL FEES		$	10,320			$	22,352			$	15,413			$	17,512
13.
13.		TOTAL OTHER OPERATING EXPENSES		$	10,320			$	22,352			$	15,413			$	17,512
NON-OPERATING INCOME
16.		RENTAL INCOME		$	10,000			$	10,000			$	10,000			$	10,000
16.		LATE FEE INCOME						$	500
16.
16.		TOTAL NON-OPERATING INCOME		$	10,000			$	10,500			$	10,000			$	10,000
OTHER INCOME & EXPENSES
21.		GAIN ON SALE OF AIRPORT HANGAR										$	(35,447	)						1
21.		LOSS ON SALE OF ICE AGE COLLECTION														$	39,133
21.
21.		NET OTHER INCOME & EXPENSES		$	0			$	0			$	(35,447	)		$	39,133
REORGANIZATION EXPENSES
25.		TRANSCRIPTION SERVICES		$	1,770			$	582			$	669
25.
25.		TOTAL OTHER REORGANIZATION EXPENSES		$	1,770			$	582			$	669			$	0

 

1

Item 21. The airport hangar was carried on the books of Life Partners, Inc., but was owned by LPHI, therefore, the corresponding reduction in assets shows on Life Partners, Inc. MOR-1

 

 

Monthly Operating Report

ACCRUAL BASIS-3

 

CASE NAME:	Life Partners Holdings, Inc.
CASE NUMBER:	15-40289-rfn-11

 

CASH RECEIPTS AND DISBURSEMENTS				AUGUST				SEPTEMBER				QUARTER				OCTOBER
1.		CASH - BEGINNING OF MONTH		$	33,749			$	35,458							$	326,670
RECEIPTS FROM OPERATIONS
2.		CASH SALES										$	0
COLLECTION OF ACCOUNTS RECEIVABLE
3.		PREPETITION										$	0
4.		POSTPETITION										$	0
5.		TOTAL OPERATING RECEIPTS		$	0			$	0			$	0			$	0
NON-OPERATING RECEIPTS
6.		LOANS & ADVANCES (ATTACH LIST)										$	0
7.		SALE OF ASSETS						$	268,996			$	268,996			$	67,117			1
8.		OTHER (ATTACH LIST)		$	5,168			$	26,255			$	41,423			$	10,000
9.		TOTAL NON-OPERATING RECEIPTS		$	5,168			$	295,251			$	310,419			$	77,117
10.		TOTAL RECEIPTS		$	5,168			$	295,251			$	310,419			$	77,117
11.		TOTAL CASH AVAILABLE		$	38,917			$	330,710			$	310,419			$	403,787
OPERATING DISBURSEMENTS
12.		NET PAYROLL										$	0
13.		PAYROLL TAXES PAID										$	0
14.		SALES, USE & OTHER TAXES PAID						$	10			$	10
15.		SECURED / RENTAL / LEASES										$	0
16.		UTILITIES										$	0
17.		INSURANCE		$	2,456			$	2,456			$	7,388			$	34,572
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 (ATTACH LIST)		$	212			$	1,394			$	6,624			$	12,299
26.		TOTAL OPERATING DISBURSEMENTS		$	2,668			$	3,860			$	14,022			$	46,871
REORGANIZATION EXPENSES
27.		PROFESSIONAL FEES										$	0			$	947
28.		U.S. TRUSTEE FEES										$	1,950			$	650
29.		OTHER (ATTACH LIST)		$	791			$	180			$	2,459			$	562
30.		TOTAL REORGANIZATION EXPENSES		$	791			$	180			$	4,409			$	2,159
31.		TOTAL DISBURSEMENTS		$	3,459			$	4,039			$	18,431			$	49,030
32.		NET CASH FLOW		$	1,709			$	291,212			$	291,989			$	28,087
33.		CASH - END OF MONTH		$	35,458			$	326,670							$	354,758

 

1

Item 7. Sale of Assets for September includes $208,996.12 received from the sale of the airplane hangar and a $60,000 down payment on the sale of the Ice Age Collection. For October, this includes proceeds from the sale of the Ice Age Collection.

 

 

Monthly Operating Report

SUPPLEMENT TO

ACCRUAL BASIS-3

 

CASE NAME:	Life Partners Holdings, Inc.
CASE NUMBER:	15-40289-rfn-11

 

CASH RECEIPTS AND DISBURSEMENTS				AUGUST				SEPTEMBER				QUARTER				OCTOBER
OTHER NON-OPERATING RECEIPTS
8.		Lease & Rental Income						$	20,500			$	30,500			$	10,000
8.		Return of Retainer						$	5,755			$	5,755
8.		Worker's Compensation Dividend		$	5,168							$	5,168
8.		Total - Non-Operating Receipts		$	5,168			$	26,255			$	41,423			$	10,000
OTHER OPERATING DISBURSEMENTS
25.		Registrar & Transfer Fees						$	1,400			$	2,450			$	1,050
25.		Filing Fees		$	212							$	212
25.		Web Page Hosting										$	3,750			$	11,249
25.		Bank Acct Analysis Fee						$	(6	)		$	213
25.		Total - Other Operating Disbursements		$	212			$	1,394			$	6,624			$	12,299
OTHER REORGANIZATION EXPENSES
29.		Transcription Services		$	791			$	180			$	2,459			$	562
29.												$	0
29.		Total - Other Reorganization Expenses		$	791			$	180			$	2,459			$	562

 

 

Monthly Operating Report

ACCRUAL BASIS-4

 

CASE NAME:	Life Partners Holdings, Inc.
CASE NUMBER:	15-40289-rfn-11

 

ACCOUNTS RECEIVABLE AGING				SCHEDULE AMOUNT				AUGUST				SEPTEMBER				OCTOBER
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:				October 2015
				0-30				31-60				61-90				91+
TAXES PAYABLE				DAYS				DAYS				DAYS				DAYS				TOTAL
1.		FEDERAL																		$	0
2.		STATE																		$	0
3.		LOCAL		$	76,683															$	76,683
4.		OTHER (ATTACH LIST)																		$	0
5.		TOTAL TAXES PAYABLE		$	76,683			$	0			$	0			$	0			$	76,683
6.		ACCOUNTS PAYABLE		$	2,542			$	401,699			$	139,831			$	500,994			$	1,045,066

 

STATUS OF POSTPETITION TAXES								MONTH:				October 2015
				BEGINNING				AMOUNT								ENDING
				TAX				WITHHELD AND/				AMOUNT				TAX
FEDERAL				LIABILITY				0R ACCRUED				PAID				LIABILITY
1.		WITHHOLDING														$	0
2.		FICA-EMPLOYEE														$	0
3.		FICA-EMPLOYER														$	0
4.		UNEMPLOYMENT														$	0
5.		INCOME														$	0
6.		OTHER (ATTACH LIST)														$	0
7.		TOTAL FEDERAL TAXES		$	0			$	0			$	0			$	0
STATE AND LOCAL
8.		WITHHOLDING														$	0
9.		SALES														$	0
10.		EXCISE														$	0
11.		UNEMPLOYMENT														$	0
12.		REAL PROPERTY		$	43,071			$	33,612							$	76,683			1
13.		PERSONAL PROPERTY														$	0
14.		OTHER (ATTACH LIST)														$	0
15.		TOTAL STATE & LOCAL		$	43,071			$	33,612			$	0			$	76,683
16.		TOTAL TAXES		$	43,071			$	33,612			$	0			$	76,683

 

1

The figures shown here include $28,460.88 in penalty accrued on calendar year 2014 taxes, but do not include $3,260.33 accrued for the prepetition period of Jan. 1, 2015 thru Jan. 19, 2015.

 

 

Monthly Operating Report

ACCRUAL BASIS-5

 

 

CASE NAME:	Life Partners Holdings, Inc.
CASE NUMBER:	15-40289-rfn-11

 

								MONTH:				October 2015
BANK RECONCILIATIONS
				Account #1				Account #2				Account #3
A. BANK:				Bank of America				Alliance Bank				Bank of Texas
B. ACCOUNT NUMBER:				3363				613				3772
C. PURPOSE (TYPE):				DIP Account				MoneyMarket				Checking				TOTAL
1.		BALANCE PER BANK STATEMENT										$	355,630			$	355,630
2.		ADD: TOTAL DEPOSITS NOT CREDITED														$	0
3.		SUBTRACT: OUTSTANDING CHECKS										$	872			$	872
4.		OTHER RECONCILING ITEMS														$	0
5.		MONTH END BALANCE PER BOOKS		$	0			$	0			$	354,758			$	354,758
6.		NUMBER OF LAST CHECK WRITTEN			1013								1029

 

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		$	354,758

 

 

Monthly Operating Report

ACCRUAL BASIS-6

 

CASE NAME:	Life Partners Holdings, Inc.
CASE NUMBER:	15-40289-rfn-11

 

MONTH:	October 2015

 

PAYMENTS TO INSIDERS AND PROFESSIONALS

 

INSIDERS
				TYPE OF				AMOUNT				TOTAL PAID
		NAME		PAYMENT				PAID				TO DATE
1.
2.
3.
4.
5.
6.		TOTAL PAYMENTS TO INSIDERS						$	0			$	0

 

 

PROFESSIONALS																						3
				DATE OF COURT														TOTAL
				ORDER AUTHORIZING		AMOUNT				AMOUNT				TOTAL PAID				INCURRED
		NAME		PAYMENT		APPROVED				PAID				TO DATE				& UNPAID
1.		Asset Servicing Group																$	770,581
2.		Bridgepoint Consulting		10/29/15		$	70,372											$	606,217
3.		Epiq Bankruptcy Solutions		05/22/15		$	2,178,943							$	558,773			$	1,620,170
4.		Forshey & Prostok, LLP		04/28/15		$	154,409							$	57,613			$	96,796			1
5.		Kevin Buchanan & Associates		07/01/15		$	140,235											$	140,235
6.		Kim Hinkle, Attorney at Law																$	187,945
7.		MMS Advisors																$	346,992
8.		Munsch, Hardt, Kopf & Harr, P.C.																$	1,535,116
9.		Phillips Murrah																$	151,136
10.		Pronske Goolsby & Kathman, P.C.		05/05/15		$	128,618							$	100,000			$	28,618			1
11.		Thompson & Knight, LLP												$	3,434			$	7,772,799			4
12.		Tom Moran, US Trustee								$	9,632			$	9,632			$	451,918
13.		Smith, Jackson, Boyer & Bovard, PLLC																$	52,021
14.		Inventus, LLC												$	25,000			$	1,405			5
15.		First Advantage Litigation Consulting												$	6,000			$	6,000			5
16.		Predictive Resources																$	72,500
17.		Barbara Pope								$	4,355			$	4,355			$	57,067
18.		TOTAL PAYMENTS TO PROFESSIONALS								$	9,632			$	760,452			$	13,840,451

 

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.		Bank Direct Capital Finance		$	1,105			$	1,105			$	4,368
2.		First Insurance Funding Corp.		$	32,116			$	32,116			$	253,825
3.
4.
5.
6.		TOTAL		$	33,221			$	33,221			$	258,193

 

1

The payments reflected here are retainers paid in prior months by Life Partners, Inc.

3

Professional fees and expenses estimated and accrued prior to May 19th are reflected only on the books of Life Partners Holdings, Inc.  Thereafter, professional fees and expenses reflect the estimated aggregate, unallocated fees and expenses for all of the Debtors, and are noted on each of the Debtors MORs.

4

The payment reflected here was a payment made by Life Partners, Inc. to Thompson & Knight for the initial bankruptcy filing fees for LPI & LPIFS. This is being shown here because these fees are included in the amounts invoiced by Thompson & Knight.

5

Amounts paid to Inventus, LLC and First Advantage Litigation Consulting are retainers paid by Life Partners, Inc.

 

 

Monthly Operating Report

ACCRUAL BASIS-7

 

CASE NAME:	Life Partners Holdings, Inc.
CASE NUMBER:	15-40289-rfn-11

 

MONTH:

October 2015

 

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.

Questionnaire Item 1. The Ice Age Collection was sold pursuant to court order (Docket 1053).

Questionnaire Item 5. A postpetition loan was received from First Insurance Funding Corp. to finance D&O and E&O insurance premiums.

Questionnaire Item 10. Past due amounts are mainly professional fees incurred after the filing date.

 

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.

Commercial Fine Arts insurance thru Travelers Lloyds Insurance was cancelled due to sale of artifacts (Ice Age Collection).

 

INSTALLMENT PAYMENTS

TYPE OF						PAYMENT AMOUNT
POLICY		CARRIER		PERIOD COVERED		& FREQUENCY
Directors & Officers		Illinois National		09/30/15- 09/30/16
Errors & Omissions		Indian Harbor		09/30/15- 09/30/16
Total for Financed thru		First Insurance Funding Corp				$	32,116.09 /month
Commercial Package*		Allied Insurance		06/14/15 - 06/13/16		$	1,066.08 /month
Commercial Fine Arts		Travelers Lloyds Insurance		06/14/15 - 06/14/16		$	285.10 /month
Cyber Liability		Beazley Insurance		05/12/15 - 06/12/16		$	1,104.82 /month

 

*

includes auto, building, edp, excess liability

 

1

This obligation has been paid in full.