Exhibit 99.1

 

UNITED STATES BANKRUPTCY COURT

FOR THE DISTRICT OF DELAWARE

 

In re Nuo Therapeutics, Inc.	Case No. 16-10192 (MFW)
Debtor	Reporting Period: March 1 - March 31, 2016

 

MONTHLY OPERATING REPORT *

 

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

 

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/ David E. Jorden		April 20, 2016
Signature of authorized individual		Date

 

David E. Jorden		Acting CEO and Acting CFO
Printed name of authorized individual		Title of authorized individual

 

* The information contained herein is provided as required by the Office of the United States Trustee. This Monthly Operating Report has been prepared based on information available to the Debtor as of the ending date in the reporting period shown above, and such information may be incomplete in certain respects. All information contained herein is unaudited and subject to future adjustments, which could be material. Nothing contained in this Monthly Operating Report shall constitute a waiver of any of the Debtor's rights or an admission with respect to its Chapter 11 proceedings. The Debtor reserves all rights to amend, modify or supplement this Monthly Operating Report.

 

 

In re Nuo Therapeutics, Inc.	Case No. 16-10192 (MFW)
Debtor	Reporting Period: March 1 - March 31, 2016

 

MOR-1

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS ¹

 

		BANK ACCOUNTS																				CURRENT PERIOD								FILING TO DATE
		Business checking (Capital One)				Business money market (Capital One)				Certificate of deposit (Capital One)				Investment (Wilmington Trust)				Cash reserves (Fidelity)				ACTUAL				PROJECTED 2				ACTUAL				PROJECTED 3
Account number ending in			0542				9462				4101				6389				2370
Beginning cash balance			656,266				361				53,427				-				0				710,054				655,097				91,158				91,158
RECEIPTS
Revenue collections			126,737				-				-				-				-				126,737				314,489				262,720				450,472
Loans and advances			1,000,000				-				-				-				-				1,000,000				1,500,000				2,500,000				3,000,000
Sweeps from / (to) other accounts			-				-				-				-				-				-				-				-				-
Transfers from other accounts			-				-				-				-				-				-				-				-				-
Proceeds from sale of assets			-				-				-				-				-				-				-				-				-
Other collections			6,120				0				-				-				-				6,120				-				6,199				79
TOTAL  RECEIPTS			1,132,857				0				-				-				-				1,132,857				1,814,489				2,768,918				3,450,551
DISBURSEMENTS
Payroll and payroll taxes			234,106				-				-				-				-				234,106				261,628				575,793				603,315
Sales commissions			20,680				-				-				-				-				20,680				20,000				34,410				33,730
Employee benefits			28,898				-				-				-				-				28,898				54,642				61,351				87,095
Employee travel and entertainment			19,572				-				-				-				-				19,572				50,151				45,922				76,501
Research and development services			-				-				-				-				-				-				42,437				-				42,437
Inventory purchases			77,305				-				-				-				-				77,305				117,342				85,889				125,927
Outside services			15,636				-				-				-				-				15,636				14,919				26,166				25,449
Marketing expense			-				-				-				-				-				-				37,971				-				37,971
Reimbursement expense			2,861				-				-				-				-				2,861				55,780				2,861				55,780
Investor relations			1,282				-				-				-				-				1,282				3,323				1,282				3,323
Insurances			15,488				-				-				-				-				15,488				-				62,675				47,187
Information technology			56,298				-				-				-				-				56,298				21,087				56,298				21,087
Supplies			-				-				-				-				-				-				21,941				-				21,941
Utilities			8,292				-				-				-				-				8,292				2,850				8,452				3,010
Licensing fees			871				-				-				-				-				871				2,526				871				2,526
Professional fees, ordinary course			22,449				-				-				-				-				22,449				54,993				22,449				54,993
Board of Directors fees			-				-				-				-				-				-				14,919				-				14,919
Excise taxes			-				-				-				-				-				-				20,823				5,692				26,515
All other operating disbursements			49,799				-				-				-				-				49,799				62,701				77,120				144,979
Bank fees			631				-				-				-				-				631				10,000				1,216				10,585
Income and business taxes			3,267				-				-				-				-				3,267				31,200				12,159				40,092
Interest, DIP loan new money			-				-				-				-				-				-				32,143				-				32,143
Interest, DIP loan pre-petition roll-up			-				-				-				-				-				-				-				-				-
Fees, DIP loan			-				-				-				-				-				-				22,500				67,500				90,000
Professional fees, restructuring			392,989				-				-				-				-				392,989				805,817				562,990				975,818
U.S. Trustee fees			-				-				-				-				-				-				-				-				-
Transaction fees			-				-				-				-				-				-				-				-				-
Vendor deposits			25,000				-				-				-				-				25,000				120,000				55,000				150,000
Critical-vendor payments			133,706				-				-				-				-				133,706				200,000				360,197				426,491
Priority claims			-				-				-				-				-				-				-				-				-
KEIP/KERP			-				-				-				-				-				-				-				-				-
All other (sources) / uses			-				-				-				-				-				-				-				-				-
Transfers to other accounts			-				-				-				-				-				-				-				-				-
TOTAL  DISBURSEMENTS			1,109,132				-				-				-				-				1,109,132				2,081,694				2,126,297				3,153,816
NET CASH FLOW			23,725				0				-				-				-				23,725				(267,205	)			642,622				296,735
Ending cash balance		$	679,991			$	361			$	53,427			$	-			$	0			$	733,779			$	387,892			$	733,779			$	387,892

 

DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES
TOTAL DISBURSEMENTS  (January 27, 2016 through March 31, 2016)			2,126,297
SUBTRACT: TRANSFERS TO DEBTOR IN POSSESSION  ACCOUNTS			0
ADD: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES  (i.e. from escrow accounts)			0
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES			2,126,297

 

1. The accounting systems are not primarily designed to produce reports that are consistent with the requirements of the Office of the United States Trustee. The numbers presented in the cash flow are subject to change as additional information is made available. The information contained herein is provided to fulfill the requirements of the Office of the United States Trustee. All information contained herein is unaudited and subject to future adjustments.

 

2. The figures in the Projected column reflect the DIP Budget exhibited in the Final Order Under Sections 105, 361, 362, 363(c), 363(e), 364(c)(1), 364(c)(2), 364(c)(3), 364(d)(1), 364(e), and 507 of the Bankruptcy Code and Bankruptcy Rules 2002, 4001 and 9014 (I) Authorizing Debtor to Obtain Postpetition Financing; (II) Authorizing Debtor to Use Cash Collateral; (III) Granting Adequate Protection to Prepetition Secured Parties; and (IV) Granting Related Relief, entered on March 9, 2016.

 

3. The figures in the Projected column reflect the sum of actual results from the filing to date through February 29, 2016, and the DIP Budget exhibited in the Final Order as mentioned above from March 1 through March 31, 2016.

 

 

In re Nuo Therapeutics, Inc.	Case No. 16-10192 (MFW)
Debtor	Reporting Period: March 1 - March 31, 2016

 

MOR-1a

BANK ACCOUNTS ¹

 

Bank name		Account type		Account number		Period-end bank balance
Capital One Bank (USA) N.A.		Business checking		ending in 0542			758,378.57
Capital One Bank (USA) N.A.		Business money market		ending in 9462			361.42
Capital One Bank (USA) N.A.		Certificate of deposit for Maryland Board of Pharmacy		ending in 4101			53,427.00
Wilmington Trust Corporation 2		Investment		ending in 6389			0.00
FMR LLC (Fidelity) 3		Cash reserves		ending in 2370			0.15
TOTAL BANK BALANCE							812,167.14

 

1. An attestation regarding the Debtor's bank statements and bank-account reconciliations follows this schedule.

 

2. Due to this account's balance being zero as of the petition date and as of the end of the Reporting Period, no reconciliation is provided for this account. This account was closed on Tuesday, March 9, 2016.

 

3. In accordance with the request of the Office of the United States Trustee, the Debtor requested this account to be closed on Tuesday, March 8, 2016.

 

 

In re Nuo Therapeutics, Inc.	Case No. 16-10192 (MFW)
Debtor	Reporting Period: March 1 - March 31, 2016

 

MOR-1a

ATTESTATION REGARDING BANK ACCOUNTS

 

The above-captioned Debtor hereby submits this attestation regarding disbursement journals and bank-account reconciliations in lieu of providing copies of bank statements and account reconciliations.

 

I attest that each of the bank accounts listed in the preceding schedule is reconciled to monthly bank statements. The Debtor's standard practice is to ensure that each bank account is reconciled to monthly bank statements for each calendar month within 20 days after month end.

 

/s/ David E. Jorden		April 20, 2016
Signature of authorized individual		Date
David E. Jorden		Acting CEO and Acting CFO
Printed name of authorized individual		Title of authorized individual

 

 

In re Nuo Therapeutics, Inc.	Case No. 16-10192 (MFW)
Debtor	Reporting Period: March 1 - March 31, 2016

 

MOR-1b

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

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

 

				Amount						Check				Period amount paid								Case-to-date amount paid
Payee		Period covered		approved				Payor		#/EFT		Date paid		Fees				Expenses				Fees				Expenses
Winter Harbor LLC		2/22/16 - 2/28/16			49,476.48			Nuo Therapeutics, Inc.		EFT		3/7/2016			46,435.50				3,040.98
Winter Harbor LLC		2/29/16 - 3/6/16			37,199.53			Nuo Therapeutics, Inc.		EFT		3/11/2016			34,790.50				2,409.03
Winter Harbor LLC		3/7/16 - 3/13/16			42,735.59			Nuo Therapeutics, Inc.		EFT		3/18/2016			38,920.00				3,815.59
Winter Harbor LLC		3/14/16 - 3/20/16			38,009.71			Nuo Therapeutics, Inc.		EFT		3/29/2016			35,603.00				2,406.71
Winter Harbor LLC		3/21/16 - 3/27/16			33,069.34			Nuo Therapeutics, Inc.		EFT		3/31/2016			31,079.50				1,989.84
					200,490.65										186,828.50				13,662.15				348,647.00				21,844.44
Dentons US LLP		None			-			Nuo Therapeutics, Inc.		None		None			-				-				-				-
Ashby & Geddes, P.A.		None			-			Nuo Therapeutics, Inc.		None		None			-				-				-				-
Gordian Group, LLC		None			-			Nuo Therapeutics, Inc.		None		None			-				-				-				-
Epiq Bankruptcy Solutions, LLC		1/27/16 - 2/29/16			70,771.41			Nuo Therapeutics, Inc.		EFT		3/11/2016			26,971.41				43,800.00				26,971.41				43,800.00
Pepper Hamilton LLP		None			-			Nuo Therapeutics, Inc.		None		None			-				-				-				-
Robbins, Salomon & Patt, Ltd.		None			-			Nuo Therapeutics, Inc.		None		None			-				-				-				-
					271,262.06										213,799.91				57,462.15				375,618.41				65,644.44

 

Professional		Role		Notes
Winter Harbor LLC		Debtor's Chief Restructuring Officer and additional personnel
Dentons US LLP		Debtor's counsel, lead
Ashby & Geddes, P.A.		Debtor's counsel, local
Gordian Group, LLC		Debtor's investment banker and related services
Epiq Bankruptcy Solutions, LLC		Debtor's noticing, claims and balloting agent
Pepper Hamilton LLP		Counsel to the Official Committee of Unsecured Creditors
Robbins, Salomon & Patt, Ltd.		Counsel to the Ad Hoc Equity Committee

 

 

In re Nuo Therapeutics, Inc.	Case No. 16-10192 (MFW)
Debtor	Reporting Period: March 1 - March 31, 2016

 

MOR-2

STATEMENT OF OPERATIONS (UNAUDITED) ¹

 

Line item		Current period				Filing to date
Revenue
Sales, Aurix			40,430				163,670
Sales, Angel			(13,328	)			54,463
Royalties			101,200				297,364
License fees			33,531				72,471
Other sales			-				-
Total revenue			161,833				587,968
Cost of sales
Cost of goods sold, Aurix			59,921				118,793
Cost of goods sold, Angel			47,150				97,038
Cost of royalties			13,083				28,277
Cost of license fees			(313	)			(313	)
Other cost of sales			893				8,489
Total cost of sales			120,734				252,284
Gross profit			41,100				335,684
Operating expenses
Employee compensation and benefits			281,682				629,989
Insurance			25,983				55,492
Rent			16,299				40,470
Travel and entertainment			15,886				36,403
Depreciation and amortization			38,829				83,939
Selling and marketing expense			10,568				67,360
Research and development expense			90,503				135,807
Professional fees			53,558				99,882
Board of Directors fees			15,417				33,320
Other operating expenses 2			62,106				130,759
Total operating expenses			610,831				1,313,421
Operating profit			(569,731	)			(977,737	)
Non-operating expenses
Interest expense / (income)			264,030				507,792
Reorganization expense / (income) 2			1,100,678				2,083,936
Loss / (gain) on asset disposal			(2,040	)			-
Other non-operating expense / (income)			-				-
Income-tax expense			4,896				4,896
Total non-operating expenses			1,367,563				2,596,623
NET INCOME			(1,937,295	)			(3,574,360	)

 

1. The accounting systems are not primarily designed to produce reports that are consistent with the requirements of the Office of the United States Trustee. The information contained herein is provided to fulfill the requirements of the Office of the United States Trustee. All information contained herein is unaudited and subject to future adjustments.

 

2. See the continuation sheet following Schedule MOR-2 for additional detail regarding these line items.

 

 

In re Nuo Therapeutics, Inc.	Case No. 16-10192 (MFW)
Debtor	Reporting Period: March 1 - March 31, 2016

 

MOR-2 CONTINUATION SHEET

STATEMENT OF OPERATIONS (UNAUDITED) ¹

 

Line item		Current period				Filing to date
Other operating expenses
Other services			-				426
Investor services			1,356				5,141
Information technology			12,989				28,120
Temporary labor			-				-
Repairs and maintenance			-				-
Supplies			417				538
Office expense 2			(40,070	)			(14,734	)
State and local taxes			8,524				15,674
Business-development expense			-				-
Bad-debt expense			(5,535	)			(5,535	)
Dues, subscriptions and fees			84,035				100,637
Miscellaneous expense			390				492
Total other operating expenses			62,106				130,759
Reorganization expense / (income) 3
Professional fees, Debtor's Chief Restructuring Officer			172,758				397,549
Professional fees, Debtor's counsel, lead			448,968				776,744
Professional fees, Debtor's counsel, local			78,277				172,277
Professional fees, Debtor's investment banker and related services			50,117				111,826
Professional fees, Debtor's claims and noticing agent			113,032				132,431
Professional fees, DIP lender's counsel, lead and local			20,027				140,109
Professional fees, Unsecured Creditors' Committee counsel			129,000				258,000
Professional fees, Ad Hoc Equity Committee counsel			85,000				85,000
U.S. Trustee fees			3,500				10,000
Total reorganization expense			1,100,678				2,083,936

 

1. The accounting systems are not primarily designed to produce reports that are consistent with the requirements of the Office of the United States Trustee. The numbers presented in this schedule are subject to change as additional information is made available. The information contained herein is provided to fulfill the requirements of the Office of the United States Trustee. All information contained herein is unaudited and subject to future adjustments.

 

2. The credit amount in this line item reflects a reclassification of freight costs to cost of goods sold.

 

3. Several of these expenses are estimated in the case where invoices have not been received.

 

 

In re Nuo Therapeutics, Inc.	Case No. 16-10192 (MFW)
Debtor	Reporting Period: March 1 - March 31, 2016

 

MOR-3

BALANCE SHEET (UNAUDITED) ¹

 

Line item		Current period				As of petition date
ASSETS
Current assets
Cash and cash equivalents			733,779				94,558
Accounts receivable			836,717				1,237,057
Intercompany receivable			14,838,499				14,593,348
Other receivables			814,267				474,489
Inventory			196,882				254,764
Deposits			399,496				478,564
Prepaid expenses			635,425				727,665
Deferred costs, current portion			1,113,887				1,091,387
Total current assets			19,568,952				18,951,831
Property, plant and equipment 2
Angel machines			225,493				225,493
Aurix centrifuges			924,970				924,970
Computer and office equipment			113,842				113,842
Furniture and fixtures			40,849				40,849
Production equipment			307,851				307,851
Leasehold improvements			32,131				32,131
Software			523,571				523,571
Less: Accumulated depreciation			(1,213,171	)			(1,119,749	)
Net property, plant and equipment			955,537				1,048,959
Other assets
Deferred costs, long-term portion			2,182,772				2,379,339
Investment, Aldagen 2			31,753,381				31,753,381
Intangible assets, net of accumulated amortization 2			1,782,000				1,830,059
Other long-term assets			50,178				11,986
Total other assets			35,768,331				35,974,765
TOTAL ASSETS			56,292,820				55,975,555
LIABILITIES AND OWNERS' EQUITY
Liabilities not subject to compromise
Accounts payable			647,442				-
Accrued compensation and benefits			32,492				-
Accrued expenses			1,127,820				-
Accrued taxes			33,495				-
Accrued interest			33,147				-
Customer deposits			371,333				-
Debtor-in-possession financing			2,500,000				-
Convertible debt, net of original issue discount			-				-
Deferred revenue			938,860				-
Derivative liabilities			-				-
Other long-term liabilities			389,314				-
Total liabilities not subject to compromise			6,073,903				-
Liabilities subject to compromise 3
Accounts payable			1,455,903				2,293,463
Accrued compensation and benefits			889,158				950,283
Accrued expenses			874,418				735,733
Accrued taxes			20,120				50,352
Accrued interest			4,529,645				4,529,645
Customer deposits			-				329,145
Debtor-in-possession financing			-				-
Convertible debt, net of original issue discount			1,181,446				981,554
Deferred revenue			-				1,072,103
Derivative liabilities			2,597,930				2,597,930
Other long-term liabilities			-				207,892
Total liabilities subject to compromise			11,548,621				13,748,099
Shareholders' equity
Mezzanine equity			500,000				500,000
Common stock			405,427				405,427
Additional paid-in capital			125,996,258				125,979,057
Retained earnings / (losses), pre-petition 3			(84,657,028	)			(84,657,028	)
Retained earnings / (losses), post-petition			(3,574,360	)			-
Total shareholders' equity			38,670,297				42,227,456
TOTAL LIABILITIES AND OWNERS' EQUITY			56,292,820				55,975,555

 

1. The accounting systems are not principally designed to produce reports that are consistent with the requirements of the Office of the United States Trustee. The numbers presented in this schedule are subject to change as additional information is made available. The information contained herein is provided to fulfill the requirements of the Office of the United States Trustee. All information contained herein is unaudited and subject to future adjustments.

 

2. With respect to the book value of property, plant and equipment, the subsections of Accounting Standards Codification 360-10 “Property, Plant, and Equipment—Overall” published by the Financial Accounting Standards Board related to impairment or disposal of long-lived assets mandate that long-lived assets, such as property, plant and equipment, and purchased intangible assets subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Although an impairment test has not yet been performed for the fiscal year ended December 31, 2015, the Debtor expects an asset impairment could be required in one or more asset categories.

 

3. Pre-petition liabilities and retained earnings continue to be adjusted monthly based on actual pre-petition invoices received and reconciled post-petition.

 

 

In re Nuo Therapeutics, Inc.	Case No. 16-10192 (MFW)
Debtor	Reporting Period: March 1 - March 31, 2016

 

MOR-4

STATUS OF POST-PETITION TAXES

 

Line item		Beginning liability				Amount withheld, accrued, and expensed				Amount paid				Date paid		Check #, EFT, or Other		Ending liability
Employee-related taxes
Federal tax			71				75,534				(75,534	)		Various		ACH			71
State tax			14				8,067				(8,064	)		Various		ACH			17
City tax			0				107				(107	)		Various		ACH			0
School-district tax			0				101				(101	)		Various		ACH			0
Subtotal, employee-related taxes			86				83,809				(83,806	)							88
Income and business taxes
Sales tax			24,794				1,796				(5,792	)		Various		Transferred to A/P			20,798
Franchise tax			6,774				5,833				-			None		None			12,608
Income tax			-				4,896				-			None		None			4,896
All other taxes			-				-				-			None		None			-
Subtotal, income and business taxes			31,568				12,525				(5,792	)							38,302
Taxes included in accounts payable			2,101				6,106				(2,018	)		Various		ACH			6,189
TOTAL TAXES			33,755				102,440				(91,616	)							44,579
Less: Taxes included in accounts payable			(2,101	)			(6,106	)			2,018			None		None			(6,189	)
Less: Taxes included in other long-term liabilities			-				(4,896	)			-			None		None			(4,896	)
TOTAL ACCRUED TAXES			31,654				91,438				(89,598	)							33,494

 

 

In re Nuo Therapeutics, Inc.	Case No. 16-10192 (MFW)
Debtor	Reporting Period: March 1 - March 31, 2016

 

MOR-4

ATTESTATION REGARDING STATUS OF POST-PETITION TAXES

 

The above-captioned Debtor hereby submits this attestation regarding the status of post-petition taxes in lieu of providing tax returns and detailed records of paid or unpaid taxes by type and entity.

 

I hereby certify, to the best of my knowledge, that: (1) all federal, state and local post-petition taxes and estimates due and owing for the period indicated above for the Debtor have been paid or that any remaining balance dues are de minimis; and (2) to the extent that tax returns have not been submitted, an extension has been either obtained or requested from the appropriate state or federal agency, or the Debtor is in the process of obtaining or requesting such extension from the appropriate state or federal agency.

 

/s/ David E. Jorden		April 20, 2016
Signature of authorized individual		Date
David E. Jorden		Acting CEO and Acting CFO
Printed name of authorized individual		Title of authorized individual

 

 

In re Nuo Therapeutics, Inc.	Case No. 16-10192 (MFW)
Debtor	Reporting Period: March 1 - March 31, 2016

 

MOR-4

STATUS OF UNPAID POST-PETITION DEBTS ¹

 

		Days Outstanding
Line item		Current				1-30 3				31-60				61-90				91-120				Over 120				Totals
Accounts payable 2			81,895				515,052				52,180				(1,685	)			-				-				647,442
Accrued compensation and benefits			32,492				-				-				-				-				-				32,492
Accrued expenses			1,127,820				-				-				-				-				-				1,127,820
Accrued taxes			33,495				-				-				-				-				-				33,495
Accrued interest			33,147				-				-				-				-				-				33,147
Customer deposits			371,333				-				-				-				-				-				371,333
Debtor-in-possession financing			2,500,000				-				-				-				-				-				2,500,000
Convertible debt, net of original issue discount			-				-				-				-				-				-				-
Deferred revenue			938,860				-				-				-				-				-				938,860
Derivative liabilities			-				-				-				-				-				-				-
Other long-term liabilities			389,314				-				-				-				-				-				389,314
Totals			5,508,356				515,052				52,180				(1,685	)			-				-				6,073,903

 

1. All information contained herein is unaudited and subject to future adjustments. Certain debts payable pursuant to orders of the Bankruptcy Court are reflected as current for the purposes of this schedule. All post-petition debts other than aged accounts payable are assumed to be current.

 

2. Amounts in this line item represent open and outstanding trade vendor invoices, aged based on invoice due date, that have been entered into the Debtor's accounts payable system. These amounts do not include any payables based on accruals for goods provided and/or services performed but for which invoices have not been received. The Debtor expects to pay all amounts not listed as "Current" as soon as practicable. This note is provided in place of a list of aged accounts payable.

 

3. This balance includes $478,771 of Debtor's professional fees, which will be paid once a Certificate of No Objection is filed with the Bankruptcy Court for each professional's fee application.

 

 

In re Nuo Therapeutics, Inc.	Case No. 16-10192 (MFW)
Debtor	Reporting Period: March 1 - March 31, 2016

 

MOR-5

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING ^*

 

		Days Outstanding
Line item		Current				1-30				31-60				61-90				Over 90				Totals
Accounts receivable			(60,771	)			104,428				139,371				330,124				403,751				916,903
Less: Allowance for doubtful accounts			-				-				-				-				(80,186	)			(80,186	)
Totals			(60,771	)			104,428				139,371				330,124				323,565				836,717
			-7.3	%			12.5	%			16.7	%			39.5	%			38.7	%			100.0	%
Reconciliation of accounts receivable, trade
Accounts receivable, net at the beginning of the reporting period																							1,427,261
Add: Amounts billed during the period																							89,274
Subtract: Amounts collected during the period																							(107,114	)
Subtract: Change in allowance for doubtful accounts																							5,535
Adjustment: Reconciliation of net receivable due from Bioprod Biomedicinski Produkti d.o.o.																							(519,507	)
Adjustment: Deferred revenue applied to accounts receivable																							(60,771	)
Other adjustments																							2,040
Accounts receivable at the end of the reporting period																							836,717

 

* All information contained herein is unaudited and subject to future adjustments.

 

 

In re Nuo Therapeutics, Inc.	Case No. 16-10192 (MFW)
Debtor	Reporting Period: March 1 - March 31, 2016

 

MOR-5a

DEBTOR QUESTIONNAIRE

 

#		Line item		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.				ü
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.				ü
3		Have all post-petition tax returns been timely filed? If no, provide an explanation below.		ü
4		Are workers' compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below.		ü
5		Has any bank account been opened during the reporting period? If yes, provide documentation identifying the opened account(s).				ü

 

Explanations

 

1		None required
2		None required
3		None required
4		None required
5		None required