Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - LIFE PARTNERS HOLDINGS INC | v425382_8k.htm |
| EX-99.2 - EXHIBIT 99.2 - LIFE PARTNERS HOLDINGS INC | v425382_ex99-2.htm |
| EX-99.1 - EXHIBIT 99.1 - LIFE PARTNERS HOLDINGS INC | v425382_ex99-1.htm |
Exhibit 99.3
| Monthly Operating Report | |
| ACCRUAL BASIS |
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| 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: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
COMPARATIVE BALANCE SHEET
| SCHEDULE AMOUNT |
MONTH August 31, 2015 |
MONTH September 30, 2015 |
MONTH October 31, 2015 |
||||||||||||||||
| ASSETS | |||||||||||||||||||
| 1. | UNRESTRICTED CASH | $ | 1,744,873 | $ | 694,146 | $ | 1,090,944 | $ | 1,028,203 | ||||||||||
| 2. | RESTRICTED CASH | ||||||||||||||||||
| 3. | TOTAL CASH | $ | 1,744,873 | $ | 694,146 | $ | 1,090,944 | $ | 1,028,203 | ||||||||||
| 4. | ACCOUNTS RECEIVABLE (NET) | $ | 2,741,107 | 2 | |||||||||||||||
| 5. | INVENTORY | ||||||||||||||||||
| 6. | NOTES RECEIVABLE | ||||||||||||||||||
| 7. | PREPAID EXPENSES | ||||||||||||||||||
| 8. | OTHER (ATTACH LIST) | $ | 1,906 | $ | 44 | ||||||||||||||
| 9. | TOTAL CURRENT ASSETS | $ | 4,485,981 | $ | 694,146 | $ | 1,092,849 | $ | 1,028,247 | ||||||||||
| 10. | PROPERTY, PLANT & EQUIPMENT | ||||||||||||||||||
| 11. | LESS: ACCUMULATED DEPRECIATION/DEPLETION | ||||||||||||||||||
| 12. | NET PROPERTY, PLANT & EQUIPMENT | $ | 0 | $ | 0 | $ | 0 | ||||||||||||
| 13. | DUE FROM INSIDERS | $ | 4,157,912 | 1 | |||||||||||||||
| 14. | OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) | ||||||||||||||||||
| 15. | OTHER (ATTACH LIST) | ||||||||||||||||||
| 16. | TOTAL ASSETS | $ | 8,643,892 | $ | 694,146 | $ | 1,092,849 | $ | 1,028,247 | ||||||||||
| POSTPETITION LIABILITIES | |||||||||||||||||||
| 17. | ACCOUNTS PAYABLE | $ | 4,840 | $ | 1,906 | $ | 0 | ||||||||||||
| 18. | TAXES PAYABLE | ||||||||||||||||||
| 19. | NOTES PAYABLE | ||||||||||||||||||
| 20. | PROFESSIONAL FEES | $ | 194,009 | $ | 227,757 | $ | 298,041 | ||||||||||||
| 21. | SECURED DEBT | ||||||||||||||||||
| 22. | OTHER (ATTACH LIST) | $ | 650 | $ | 650 | $ | 325 | ||||||||||||
| 23. | TOTAL POSTPETITION LIABILITIES | $ | 199,499 | $ | 230,313 | $ | 298,366 | ||||||||||||
| PREPETITION LIABILITIES | |||||||||||||||||||
| 24. | SECURED DEBT | ||||||||||||||||||
| 25. | PRIORITY DEBT | unknown | |||||||||||||||||
| 26. | UNSECURED DEBT | $ | 9,001 | $ | 1,062 | $ | 1,062 | $ | 1,062 | ||||||||||
| 27. | OTHER (ATTACH LIST) | ||||||||||||||||||
| 28. | TOTAL PREPETITION LIABILITIES | $ | 9,001 | $ | 1,062 | $ | 1,062 | $ | 1,062 | ||||||||||
| 29. | TOTAL LIABILITIES | $ | 9,001 | $ | 200,560 | $ | 231,375 | $ | 299,428 | ||||||||||
| EQUITY | |||||||||||||||||||
| 30. | PREPETITION OWNERS' EQUITY | $ | 5,901,723 | $ | 5,901,723 | $ | 5,901,723 | ||||||||||||
| 31. | POSTPETITION CUMULATIVE PROFIT OR (LOSS) | $ | 503,215 | $ | 1,436,474 | $ | 1,553,373 | ||||||||||||
| 32. | DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) | $ | (5,911,353 | ) | $ | (6,476,722 | ) | $ | (6,726,278 | ) | 1 | ||||||||
| 33. | TOTAL EQUITY | $ | 493,586 | $ | 861,475 | $ | 728,819 | ||||||||||||
| 34. | TOTAL LIABILITIES & OWNERS' EQUITY | $ | 694,146 | $ | 1,092,849 | $ | 1,028,247 | ||||||||||||
| 1 | This is Intercompany Due From Life Partners, Inc. reported on Schedule B Item 16 and shown above under Item 13. Due From Insiders. |
| 2 | The Debtor LPIFS records receipts on a cash basis and accordingly, does not carry receivable balances. The Schedules note a receivable balance as if receipts were recorded on an accrual basis as of the petition date. |
Monthly Operating Report
SUPPLEMENT TO
ACCRUAL BASIS-1
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
COMPARATIVE BALANCE SHEET
| SCHEDULE AMOUNT | MONTH August 31, 2015 | MONTH September 30, 2015 | MONTH October 31, 2015 | |||||||||||||||
| CURRENT ASSETS | ||||||||||||||||||
| 8. | PREMIUMS BEING FORWARDED | $ | 0 | $ | 1,906 | $ | 44 | |||||||||||
| 8 | TOTAL OTHER CURRENT ASSETS | $ | 0 | $ | 1,906 | $ | 44 | |||||||||||
| POSTPETITION LIABILITIES | ||||||||||||||||||
| 22. | US TRUSTEE FEES | $ | 650 | $ | 650 | $ | 325 | |||||||||||
| 22 | TOTAL OTHER POSTPETITION LIABILITIES | $ | 650 | $ | 650 | $ | 325 | |||||||||||
Monthly Operating Report
ACCRUAL BASIS-2
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| INCOME STATEMENT | JULY | AUGUST | SEPTEMBER | OCTOBER | ||||||||||||||
| REVENUES | ||||||||||||||||||
| 1. | GROSS REVENUES | $ | 43,875 | $ | 52,937 | $ | 1,032,009 | $ | 214,446 | |||||||||
| 2. | LESS: RETURNS & DISCOUNTS | |||||||||||||||||
| 3. | NET REVENUE | $ | 43,875 | $ | 52,937 | $ | 1,032,009 | $ | 214,446 | |||||||||
| 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 | $ | 43,875 | $ | 52,937 | $ | 1,032,009 | $ | 214,446 | |||||||||
| OPERATING EXPENSES | ||||||||||||||||||
| 9. | OFFICER / INSIDER COMPENSATION | |||||||||||||||||
| 10. | SELLING & MARKETING | |||||||||||||||||
| 11. | GENERAL & ADMINISTRATIVE | $ | 3,322 | $ | 24,543 | $ | 375 | $ | 26,817 | |||||||||
| 12. | RENT & LEASE | |||||||||||||||||
| 13. | OTHER (ATTACH LIST) | |||||||||||||||||
| 14. | TOTAL OPERATING EXPENSES | $ | 3,322 | $ | 24,543 | $ | 375 | $ | 26,817 | |||||||||
| 15. | INCOME BEFORE NON-OPERATING INCOME & EXPENSE | $ | 40,553 | $ | 28,393 | $ | 1,031,634 | $ | 187,628 | |||||||||
| OTHER INCOME & EXPENSES | ||||||||||||||||||
| 16. | NON-OPERATING INCOME (ATTACH LIST) | |||||||||||||||||
| 17. | NON-OPERATING EXPENSE (ATTACH 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 | $ | 194,009 | $ | 98,376 | $ | 65,916 | |||||||||||
| 24. | U.S. TRUSTEE FEES | $ | (3,900 | ) | $ | 0 | $ | 4,813 | ||||||||||
| 25. | OTHER (ATTACH LIST) | $ | 0 | $ | 0 | |||||||||||||
| 26. | TOTAL REORGANIZATION EXPENSES | $ | (3,900 | ) | $ | 194,009 | $ | 98,376 | $ | 70,729 | ||||||||
| 27. | INCOME TAX | |||||||||||||||||
| 28. | NET PROFIT (LOSS) | $ | 44,453 | $ | (165,616 | ) | $ | 933,258 | $ | 116,900 | ||||||||
Monthly Operating Report
ACCRUAL BASIS-3
| CASE NAME: | LPI Financial Services, Inc. | |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH | MONTH | QUARTER | MONTH | ||||||||||||||||
| CASH RECEIPTS AND DISBURSEMENTS | August 31, 2015 | September 30, 2015 | October 31, 2015 | ||||||||||||||||
| 1. | CASH - BEGINNING OF MONTH | $ | 1,363,573 | $ | 694,146 | $ | 1,090,944 | ||||||||||||
| RECEIPTS FROM OPERATIONS | |||||||||||||||||||
| 2. | CASH SALES | $ | 52,937 | $ | 1,032,009 | $ | 1,128,821 | $ | 216,308 | ||||||||||
| COLLECTION OF ACCOUNTS RECEIVABLE | |||||||||||||||||||
| 3. | PREPETITION | $ | 0 | ||||||||||||||||
| 4. | POSTPETITION | $ | 0 | ||||||||||||||||
| 5. | TOTAL OPERATING RECEIPTS | $ | 52,937 | $ | 1,032,009 | $ | 1,128,821 | $ | 216,308 | ||||||||||
| NON-OPERATING RECEIPTS | |||||||||||||||||||
| 6. | LOANS & ADVANCES (ATTACH LIST) | $ | 0 | ||||||||||||||||
| 7. | SALE OF ASSETS | $ | 0 | ||||||||||||||||
| 8. | OTHER (ATTACH LIST) | $ | 55,451 | $ | 55,451 | $ | 8,632 | ||||||||||||
| 9. | TOTAL NON-OPERATING RECEIPTS | $ | 0 | $ | 55,451 | $ | 55,451 | $ | 8,632 | ||||||||||
| 10. | TOTAL RECEIPTS | $ | 52,937 | $ | 1,087,460 | $ | 1,184,272 | $ | 224,939 | ||||||||||
| 11. | TOTAL CASH AVAILABLE | $ | 1,416,510 | $ | 1,781,605 | $ | 1,315,883 | ||||||||||||
| OPERATING DISBURSEMENTS | |||||||||||||||||||
| 12. | NET PAYROLL | $ | 0 | ||||||||||||||||
| 13. | PAYROLL TAXES PAID | $ | 0 | ||||||||||||||||
| 14. | SALES, USE & OTHER TAXES PAID | $ | 0 | ||||||||||||||||
| 15. | SECURED / RENTAL / LEASES | $ | 0 | ||||||||||||||||
| 16. | UTILITIES | $ | 0 | ||||||||||||||||
| 17. | INSURANCE | $ | 95,216 | $ | 95,216 | ||||||||||||||
| 18. | INVENTORY PURCHASES | $ | 0 | ||||||||||||||||
| 19. | VEHICLE EXPENSES | $ | 0 | ||||||||||||||||
| 20. | TRAVEL | $ | 0 | ||||||||||||||||
| 21. | ENTERTAINMENT | $ | 0 | ||||||||||||||||
| 22. | REPAIRS & MAINTENANCE | $ | 0 | ||||||||||||||||
| 23. | SUPPLIES | $ | 22,186 | $ | 4,786 | $ | 26,972 | $ | 25,513 | 1 | |||||||||
| 24. | ADVERTISING | $ | 0 | ||||||||||||||||
| 25. | OTHER (ATTACH LIST) | $ | 700,178 | $ | 405,879 | $ | 1,908,159 | $ | 261,842 | ||||||||||
| 26. | TOTAL OPERATING DISBURSEMENTS | $ | 722,364 | $ | 505,881 | $ | 2,030,347 | $ | 287,355 | ||||||||||
| REORGANIZATION EXPENSES | |||||||||||||||||||
| 27. | PROFESSIONAL FEES | $ | 184,781 | $ | 184,781 | ||||||||||||||
| 28. | U.S. TRUSTEE FEES | $ | 325 | $ | 325 | ||||||||||||||
| 29. | OTHER (ATTACH LIST) | $ | 0 | ||||||||||||||||
| 30. | TOTAL REORGANIZATION EXPENSES | $ | 0 | $ | 184,781 | $ | 185,106 | $ | 325 | ||||||||||
| 31. | TOTAL DISBURSEMENTS | $ | 722,364 | $ | 690,662 | $ | 2,215,452 | $ | 287,680 | 2 | |||||||||
| 32. | NET CASH FLOW | $ | (669,428 | ) | $ | 396,798 | $ | (1,031,181 | ) | $ | (62,741 | ) | |||||||
| 33. | CASH - END OF MONTH | $ | 694,146 | $ | 1,090,944 | $ | 1,028,203 | ||||||||||||
1 Item 23. Supplies includes $25,000 of postage.
2 Total Disbursements includes the following amounts that are NOT disbursements, but are transfers of funds between bank
accounts (from LPI Financial Services account to Life Partners, Inc. account) for the periods shown below.
| August 31, 2015 | $ | 700,000.00 | ||
| September 30, 2015 | $ | 350,000.00 | ||
| October 31, 2015 | $ | 254,686.04 |
Monthly Operating Report
SUPPLEMENT TO
ACCRUAL BASIS-3
| CASE NAME: | LPI Financial Services, Inc. | |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH | MONTH | QUARTER | MONTH | |||||||||||||||
| CASH RECEIPTS AND DISBURSEMENTS | August 31, 2015 | September 30, 2015 | October 31, 2015 | |||||||||||||||
| NON-OPERATING RECEIPTS (OTHER) | ||||||||||||||||||
| 8. | DIVIDENDS FORWARD TO LPI | $ | 0 | |||||||||||||||
| 8. | FLOW THRU PREMIUMS | $ | 55,451 | $ | 55,451 | $ | 3,946 | |||||||||||
| 8. | PREMIUMS RETURNED | $ | 0 | |||||||||||||||
| 8. | SPOILED POSTAGE REFUND | $ | 0 | |||||||||||||||
| 8. | RECEIPTS TO BE FORWARDED TO LPI | $ | 0 | $ | 4,686 | |||||||||||||
| 9. | TOTAL NON-OPERATING RECEIPTS | $ | 0 | $ | 55,451 | $ | 55,451 | $ | 8,632 | |||||||||
| OPERATING DISBURSEMENTS | ||||||||||||||||||
| 25. | BANK FEES | $ | 114 | $ | 365 | $ | 1,131 | $ | 1,294 | |||||||||
| 25. | CREDIT CARD PROCESSING FEES | $ | 10 | $ | 10 | $ | 30 | $ | 10 | |||||||||
| 25. | DIVIDENDS FORWARD TO LPI | $ | 0 | |||||||||||||||
| 25. | FLOW THRU PREMIUMS | $ | 55,451 | $ | 56,890 | $ | 5,852 | |||||||||||
| 25. | PREMIUMS RETURNED | $ | 0 | |||||||||||||||
| 25. | TRANSFER TO LPI | $ | 700,000 | $ | 350,000 | $ | 1,850,000 | $ | 254,686 | |||||||||
| 25. | TRANSFER TO LPI BANK ACCOUNT | $ | 0 | |||||||||||||||
| 25. | LICENSES & FEES | $ | 54 | $ | 54 | $ | 108 | |||||||||||
| 26. | TOTAL OPERATING DISBURSEMENTS (OTHER) | $ | 700,178 | $ | 405,879 | $ | 1,908,159 | $ | 261,842 | |||||||||
Monthly Operating Report
ACCRUAL BASIS-4
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| ACCOUNTS RECEIVABLE AGING | SCHEDULE AMOUNT | MONTH August 31, 2015 | MONTH September 30, 2015 | MONTH October 31, 2015 | ||||||||||||||
| 1. | 0-30 | |||||||||||||||||
| 2. | 31-60 | $ | 803,662 | |||||||||||||||
| 3. | 61-90 | |||||||||||||||||
| 4. | 91+ | $ | 1,937,445 | |||||||||||||||
| 5. | TOTAL ACCOUNTS RECEIVABLE | $ | 2,741,107 | $ | 0 | $ | 0 | $ | 0 | |||||||||
| 6. | AMOUNT CONSIDERED UNCOLLECTIBLE | |||||||||||||||||
| 7. | ACCOUNTS RECEIVABLE (NET) | $ | 2,741,107 | $ | 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 | $ | 0 | |||||||||||||||||||
| 4. | OTHER (ATTACH LIST) | $ | 0 | |||||||||||||||||||
| 5. | TOTAL TAXES PAYABLE | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||
| 6. | ACCOUNTS PAYABLE | $ | 0 | $ | 0 | |||||||||||||||||
| 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 | $ | 0 | |||||||||||||||
| 13. | PERSONAL PROPERTY | $ | 0 | |||||||||||||||
| 14. | OTHER (ATTACH LIST) | $ | 0 | |||||||||||||||
| 15. | TOTAL STATE & LOCAL | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||
| 16. | TOTAL TAXES | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||
Monthly Operating Report
ACCRUAL BASIS-5
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH: | October 2015 |
BANK RECONCILIATIONS
| Account #1 | Account #2 | Account #3 | ||||||||||||||||
| A. | BANK: | |||||||||||||||||
| B. | ACCOUNT NUMBER: | 4069 | TOTAL | |||||||||||||||
| C. | PURPOSE (TYPE): | |||||||||||||||||
| 1. | BALANCE PER BANK STATEMENT | $ | 1,028,232 | $ | 1,028,232 | |||||||||||||
| 2. | ADD: TOTAL DEPOSITS NOT CREDITED | $ | 0 | |||||||||||||||
| 3. | SUBTRACT: OUTSTANDING CHECKS | $ | 152 | $ | 152 | |||||||||||||
| 4. | OTHER RECONCILING ITEMS | $ | 123 | $ | 123 | |||||||||||||
| 5. | MONTH END BALANCE PER BOOKS | $ | 1,028,203 | $ | 0 | $ | 0 | $ | 1,028,203 | |||||||||
| 6. | NUMBER OF LAST CHECK WRITTEN | 1020 | ||||||||||||||||
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 | $ | 1,028,203 | |||||||||||||||
Monthly Operating Report
ACCRUAL BASIS-6
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH: | October 2015 |
PAYMENTS TO INSIDERS AND PROFESSIONALS
| INSIDERS | ||||||||||||
| TYPE OF | AMOUNT | TOTAL PAID | ||||||||||
| NAME | PAYMENT | PAID | TO DATE | |||||||||
| 1. | Advance Trust & Life Escrow Services | Premium Remittance | $ | 5,808 | $ | 88,850 | ||||||
| 2. | Purchase Escrow Services, LLC | Premium Remittance | $ | 44 | $ | 3,461 | ||||||
| 3. | ||||||||||||
| 4. | ||||||||||||
| 5. | ||||||||||||
| 6. | TOTAL PAYMENTS TO INSIDERS | $ | 5,852 | $ | 92,311 | |||||||
| PROFESSIONALS | |||||||||||||||||||||
| DATE OF COURT ORDER AUTHORIZING | AMOUNT | AMOUNT | TOTAL PAID | TOTAL INCURRED |
|||||||||||||||||
| NAME | PAYMENT | APPROVED | PAID | TO DATE | & UNPAID | ||||||||||||||||
| 1. | Asset Servicing Group | $505,818 | |||||||||||||||||||
| 2. | Bridgepoint Consulting | 10/29/15 | $ | 70,372 | $606,217 | ||||||||||||||||
| 3. | Epiq Bankruptcy Solutions | 05/22/15 | $ | 2,126,230 | $ | 533,773 | $1,592,457 | ||||||||||||||
| 4. | Kim Hinkle, Attorney at Law | $125,526 | |||||||||||||||||||
| 5. | MMS Advisors | $217,600 | 5 | ||||||||||||||||||
| 6. | Munsch, Hardt, Kopf & Harr,P.C. | $987,380 | |||||||||||||||||||
| 7. | Thompson & Knight LLP | $ | 3,434 | $6,216,571 | |||||||||||||||||
| 8. | Tom Moran, US Trustee | $ | 9,632 | $ | 9,632 | $329,338 | |||||||||||||||
| 9. | Phillips Murrah | $59,316 | |||||||||||||||||||
| 10. | Smith, Jackson, Boyer, & Bobard, PLLC | $45,603 | |||||||||||||||||||
| 11. | Inventus | $ | 25,000 | $1,405 | |||||||||||||||||
| 12. | First Advantage Litigation | $ | 6,000 | $6,000 | |||||||||||||||||
| 13. | Predictive Resources | $72,500 | |||||||||||||||||||
| 14. | Barbara Pope | $ | 4,355 | $41,297 | |||||||||||||||||
| 15. | TOTAL PAYMENTS TO PROFESSIONALS | $ | 9,632 | $ | 577,839 | $10,765,732 | 3 | ||||||||||||||
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 | |||||||
| 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. |
| 5 | MMS Advisors incurred fees and expenses March 13th - May 18th in the estimated amount of $230,000.00 that are not included here since their retention has not been approved for this period of time. |
Monthly Operating Report
ACCRUAL BASIS-7
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| 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.
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 | ||||