AXION INTERNATIONAL HOLDINGS, INC. - FORM 8-K - EX-99.2 - EXHIBIT 99.2

Attached files

file	filename
8-K - FORM 8-K - AXION INTERNATIONAL HOLDINGS, INC.	v440372_8k.htm
EX-99.1 - EXHIBIT 99.1 - AXION INTERNATIONAL HOLDINGS, INC.	v440372_ex99-1.htm
EX-99.3 - EXHIBIT 99.3 - AXION INTERNATIONAL HOLDINGS, INC.	v440372_ex99-3.htm
EX-99.4 - EXHIBIT 99.4 - AXION INTERNATIONAL HOLDINGS, INC.	v440372_ex99-4.htm

EXHIBIT 99.2

UNITED STATES BANKRUPTCY COURT

DISTRICT OF DELAWARE

In re: Axion International, Inc.	Case No.: 15-12415
	Reporting Period: April 2016

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		Y
Balance Sheet	MOR-3	Y		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

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		May 17, 2016
Signature of Debtor		Date

/s/ Donald W. Fallon		May 17, 2016
Signature of Joint Debtor		Date

/s/ Donald W. Fallon		May 17, 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.

In re Axion International, Inc.	Case No. 15-12415 (15-12416 & 15-12417)
Debtor	Reporting Period: April 2016

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					Utility Dep			ACTUAL		PROJECTED		ACTUAL			PROJECTED
CASH BEGINNING OF MONTH	$	261,454	$	5,339		$	-	$	9,499		$	276,292	$	224,159	$	36,452		$	188,571

RECEIPTS
CASH SALES											$	-	$	-				$	-
ACCOUNTS RECEIVABLE	$	707,669									$	707,669	$	1,875,850	$	5,130,564		$	6,345,202
LOANS AND ADVANCES	$	400,000									$	400,000	$	-	$	1,850,000		$	1,825,000
SALE OF ASSETS											$	-	$	-	$	47,500		$	-
OTHER (ATTACH LIST)											$	-	$	-	$	(5,727	)	$	-
TRANSFERS (FROM DIP ACCTS)			$	323,000							$	323,000	$	-	$	801,999		$	-
MISCELLANEOUS											$	-	$	-	$	8		$	-
TOTAL RECEIPTS	$	1,107,669	$	323,000		$	-	$	-		$	1,430,669	$	1,875,850	$	7,824,343		$	8,170,202

DISBURSEMENTS
NET PAYROLL			$	235,539							$	235,539	$	334,274	$	1,248,107		$	1,758,577
PAYROLL TAXES			$	92,446							$	92,446	$	-	$	483,268		$	-
EMPLOYEE BENEFITS	$	43,609	$	176							$	43,785	$	40,051	$	198,090		$	210,298
SALES, USE, & OTHER TAXES											$	-	$	-	$	-		$	-
INVENTORY PURCHASES	$	138,150									$	138,150	$	715,400	$	2,225,780		$	3,102,627
SECURED/ RENTAL/ LEASES	$	-									$	-	$	-	$	250,996		$	250,996
INSURANCE	$	8,936									$	8,936	$	8,936	$	184,283		$	184,283
ADMINISTRATIVE	$	12,494						$	50		$	12,544	$	16,000	$	59,686		$	64,794
SELLING											$	-	$	-	$	-		$	-
OTHER (ATTACH LIST)	$	169,676									$	169,676	$	296,814	$	1,059,248		$	1,453,736
											$	-			$	-		$	-
OWNER DRAW *											$	-			$	-		$	-
TRANSFERS (TO DIP ACCTS)	$	323,000									$	323,000			$	801,999		$	-
											$	-			$	-		$	-
PROFESSIONAL FEES											$	-	$	-	$	659,303		$	624,778
U.S. TRUSTEE QUARTERLY FEES	$	-									$	-	$	-	$	7,150		$	20,150
COURT COSTS											$	-			$	-		$	-
TOTAL DISBURSEMENTS	$	695,865	$	328,161		$	-	$	50		$	1,024,076	$	1,411,475	$	7,177,910		$	7,670,239

NET CASH FLOW	$	411,804	$	(5,161	)	$	-	$	(50	)	$	406,593	$	464,375	$	646,433		$	499,963
(RECEIPTS LESS DISBURSEMENTS)

CASH - END OF MONTH	$	673,258	$	178		$	-	$	9,449		$	682,885	$	688,534	$	682,885		$	688,534

* 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	$	1,024,076
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS	$	(323,000	)
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts)	$
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES	$	701,076

In re Axion International, Inc.	Case No. 15-12415 (15-12416 & 15-12417)
Debtor	Reporting Period: April 2016

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

ATTACHED LISTS TO MOR-1

CASH BEGINNING OF MONTH - 11/30/15 vs 12/2/15
	OPER			PAYROLL		Combined
Balance at 11/30/15 per Bank Reconciliation		133,852			569
12/1/2015 transactions (prepetition)		(97,969	)
Cash December 2, 2015, per this Schedule		35,883			569		36,452

Other Receipts List:		Month				Cumu
AR Terms Discounts		$	-			$	(5,727	)

Other Disbursements List:

	Actual				Projection
Description	Month		Cumu		Month		Cumu
Utility Deposits	$	-	$	26,453	$	-	$	35,951
Freight		31,120		293,951		34,667		286,118
Operating Expenses - Texas Facility		71,843		332,904		62,000		354,162
Operating Expenses - Ohio Facility		14,553		90,419		52,000		171,667
Emergency Repairs - Texas facility		-		49,470		-		45,508
Restart Extruder #1 - Texas Facility		-		5,199		-		61,199
Legal - commercial/corporate counsel		-		498		-		-
Claims Agent		45,860		76,950		34,719		104,561
Audit & Tax Professional		-		-		-		-
OSHA Fine - OH		6,300		6,300		-		-
Interest - DiP Loan		-		-		50,262		50,262
S/U tax remittence		-		195		-		-
Rutgers Royalty Payment		-		75,922		-		75,922
Real & Personal Property Taxe		-		100,987		-		100,988
Budget Variance @ 10%		-		-		63,166		167,398
TOTAL	$	169,676	$	1,059,248	$	296,814	$	1,453,736

PAYROLLS
Description	Actual						Cash Accts				Projected
	4/8/16		4/22/16		Total		Operating		Payroll		Month		Cumu

Payroll	$	99,578	$	119,011	$	218,590				218,590
Fee		1,358		1,305		2,663				2,663
401(k)		2,877		2,828		5,705				5,705
Garnishments		4,271		4,311		8,582				8,582
Taxes		40,363		52,083		92,446				92,446
AFLAC						438		438
Health						29,379		29,379
Dental						1,807		1,807
Life						266		266
Other fees						176				176
TX workers comp						5,051		5,051
OH workers comp						6,669		6,669
TOTAL	$	148,448	$	179,538	$	371,770	$	43,609	$	328,161
										-
Net Payroll	$	108,084	$	127,454	$	235,539	$	-	$	235,539	$	334,274	$	1,758,577
Payroll Taxes		40,363		52,083		92,446				92,446		-		-
Employee Benefits		-		-		43,785		43,609		176		40,051		210,298
TOTAL	$	148,447	$	179,538	$	371,770	$	43,609	$	328,161	$	374,325	$	1,968,875

In re Axion International, Inc.		Case No. 15-12415 (15-12416 & 15-12417)
Debtor		Reporting Period: April 2016

Month:	April 29, 2016	GL Account #	CZ1060

General Ledger Reconciliation					Per the Bank

Balance per GL- Begin of Period		$	262,380.20		Ending Balance per Bank Statement	$	776,925.25

Plus:			1,141,488.73		Plus: Outstanding Deposits
Deposits	1,141,488.73

Less:			(732,514.32	)	Less: Outstanding Disbursements		(105,570.64	)
Disbursements	409,067.82
Bank Charges	446.50		0430PNCOA
Transfer to Other Acct - AXI PNC PR	150,000.00		0430PNCOA
Transfer to Other Acct - AXI PNC PR	173,000.00		0430PNCOA

Balance per GL - End of Period		$	671,354.61		Reconciled Balance per the Bank	$	671,354.61
					Difference		-

Outstanding Disbursements:
Date	AP CK#		AP Amount
4/19/16	11680	DOL-OSHA		6,300.00
4/21/16	11682	CONFIDENTIAL MOBILE SHREDDING		20.00
4/28/16	EWDEBIT 042816-1	CRAWFORD ELECTRIC SUPPLY		1,428.90
4/28/16	EWDEBIT 042816-5	ZORO TOOLS, INC.		228.22
4/29/16	11694	AMERIGAS		555.45
4/29/16	11695	AMERICAN ELECTRIC POWER		5,945.97
4/29/16	11696	ANTHEM BCBS OH GROUP		29,379.17
4/29/16	11697	ANTHEM DENTAL		1,806.82
4/29/16	11698	ANTHEM LIFE		265.50
4/29/16	11699	CINTAS CORPORATION		694.31
4/29/16	11700	COASTAL COMPOUNDED RESINS		3,947.20
4/29/16	11701	COMDOC		206.36
4/29/16	11703	FORD CREDIT		506.48
4/29/16	11704	LIFT LEASE & FINANCE CORP		6,608.74
4/29/16	11705	PARSONS OFFICE SYSTEMS INC		54.00
4/29/16	11706	PRO HEAT INC.		6,450.04
4/29/16	11707	RING CENTRAL		1,124.61
4/29/16	11708	UPS		18.25
4/29/16	11709	WORTH HYDROCHEM OF CENT TEXAS		725.00
4/29/16	ACH 043016 PNC	AFLAC		218.76
4/29/16	11711	DIRECT ENERGY BUSINESS		28,642.14
4/29/16	11712	FEHRMAN TOOL & DIE CO.		3,125.00
4/29/16	DEBIT 042916	SAGE SOFTWARE INC		170.90
4/29/16	11710	OHIO BUREAU OF WORKERS’ COMPEN		6,669.00
4/29/16	EWDEBIT 042916	CENTRAL TEXAS SECURITY & FIRE		108.25
4/29/16	EWDEBIT 042916-1	METALS 2 GO		23.00
4/29/16	EWDEBIT 042916-2	RED EXPRESS PALLET		348.57

				105,570.64

In re Axion International, Inc.		Case No. 15-12415 (15-12416 & 15-12417)
Debtor		Reporting Period: April 2016

Month:	April 30, 2016	GL Account #	CZ1070

General Ledger Reconciliation					GL Entry #		Per the Bank

Balance per GL- Begin of Period		$	7,060.78				Ending Balance per Bank Statement	$	2,297.44

Plus:			323,000.00				Plus: Outstanding Deposits		-
Deposits	323,000.00

Other Deposit:

Less:			(328,364.13	)			Less: Outstanding Disbursements
Disbursements	328,139.13						Disbursements (Column 1)		(600.79	)
Recurring Paychex Fee for “Obamacare” Reporting	176.00					0430PNCPA
Bank Service Fee	49.00					0430PNCPA

Balance per GL - End of Period		$	1,696.65				Reconciled Balance per the Bank	$	1,696.65
							Difference		(0.00	)

							FSA balance in account		600.79

							Total Outstanding Checks:		600.79

In re Axion International, Inc.		Case No. 15-12415 (15-12416 & 15-12417)
Debtor		Reporting Period: April 2016

Month:	March, 2016	GL Account #	CZ1080

General Ledger Reconciliation					Per the Bank

Balance per GL- Begin of Period		$	9,498.56		Ending Balance per Bank Statement	$	9,448.56

Plus:			-		Plus: Outstanding Deposits
Deposits	-




Less:			(50.00	)	Less: Outstanding Disbursements		-
Bank fee	50.00		0430PNCUDA


Balance per GL - End of Period		$	9,448.56		Reconciled Balance per the Bank	$	9,448.56
					Difference		-

In re Axion International, Inc.	Case No. 15-12415 (15-12416 & 15-12417)
Debtor	Reporting Period: April 2016

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

Gordian Partners	(a)	$	200,000	AXI	WT	Feb ’16	$	50,000			$	50,000
Gordian Partners	(a)			AXI	WT	3/4/16	$	50,000	$	-	$	100,000	$	-
Gordian Partners				AXI	WT	3/11/16	$	50,000	$	-	$	150,000	$	-

Greenberg & Traurig	(b)	$	37,500	AXI	WT	3/4/16	$	4,167			$	4,167
Greenberg & Traurig	(b)			AXI	WT	3/11/16	$	4,167			$	8,334
Greenberg & Traurig	(b)			AXI	WT	3/18/16	$	4,167			$	12,501
Greenberg & Traurig	(b)			AXI	WT	3/25/16	$	8,333			$	20,834
Greenberg & Traurig	(b)			AXI	WT	3/31/16	$	8,333			$	29,167

Bayard	(b)	$	312,500	AXI	WT	Dec ’15	$	100,000			$	100,000
Bayard	(b)			AXI	WT	3/4/16	$	23,611			$	123,611
Bayard	(b)			AXI	WT	3/11/16	$	23,611			$	147,222
Bayard	(b)			AXI	WT	3/18/16	$	23,611			$	170,833
Bayard	(b)			AXI	WT	3/25/16	$	47,222			$	218,055

Statutory Comm	(b)	$	350,000	AXI	WT	Dec ’15	$	20,000			$	20,000
Statutory Comm	(b)			AXI	WT	Jan ’16	$	5,000			$	25,000
Statutory Comm	(b)			AXI	WT	3/4/16	$	36,111			$	61,111
Statutory Comm	(b)			AXI	WT	3/11/16	$	36,111			$	97,222
Statutory Comm	(b)			AXI	WT	3/18/16	$	36,111			$	133,333
Statutory Comm	(b)			AXI	WT	3/25/16	$	72,222			$	205,555
Statutory Comm	(b)			AXI	WT	3/31/16	$	22,000			$	227,555

							$	624,777

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.

(a) - Approved investment banking fee of $200,000 agreed to be paid over the period comprising the weeks ended 2/26, 3/4, 3/11 and 5/6 at $50,000 each.

(b) - amounts were paid into escrow account at Bayard.

In re Axion International, Inc.	Case No. 15-12415 (15-12416 & 15-12417)
Debtor	Reporting Period: March 2016

AXION INTERNATIONAL INC

CASH RECEIPTS & DISBURSEMENTS JOURNALS

For the Period From Apr 1, 2016 to Apr 30, 2016

Account Description

Date

Reference

Jrnl

Trans Description

Debit Amt

Credit Amt

Balance

CRJ

DiP

CDJ

TRF

Operating Account PNC (AXI)

4/1/16

Beginning Balance

262,380.20

Operating Account PNC (AXI)

4/1/16

DEBIT 032216

CDJ

H AND H LAWNCARE EQUIPMENT

75.80

(75.80)

Operating Account PNC (AXI)

4/1/16

ACH 040116 PNC

CDJ

AFLAC

218.76

(218.76)

Operating Account PNC (AXI)

4/1/16

EWDEBIT 040116

CDJ

UPS

4.30

(4.30)

Operating Account PNC (AXI)

4/1/16

EWDEBIT 040116-1

CDJ

UNIVERSAL FOREST PRODUCT

729.00

(729.00)

Operating Account PNC (AXI)

4/1/16

11713

CDJ

US Trustee

10,400.00

(10,400.00)

Operating Account PNC (AXI)

4/1/16

11713V

CDJ

US Trustee

10,400.00

Operating Account PNC (AXI)

4/4/16

WT 040416 PNC

CDJ

GILBERT + TOBIN

5,000.00

(5,000.00)

Operating Account PNC (AXI)

4/4/16

EWDEBIT 040416

CDJ

HARBOR FREIGHT TOOLS

324.70

(324.70)

Operating Account PNC (AXI)

4/4/16

EWDEBIT 040416-1

CDJ

NO CARRY SIGNS.COM

71.29

(71.29)

Operating Account PNC (AXI)

4/4/16

EWDEBIT 040416-2

CDJ

UPS

8.60

(8.60)

Operating Account PNC (AXI)

4/4/16

DEBIT 040416

CDJ

Zoro Tools, Inc.

874.80

(874.80)

Operating Account PNC (AXI)

4/4/16

EWDEBIT 040416-3

CDJ

Zoro Tools, Inc.

873.52

(873.52)

Operating Account PNC (AXI)

4/5/16

WT 040516 PNC

CRJ

ALCOA FASTENING SYSTEMS

91,980.10

Operating Account PNC (AXI)

4/5/16

EWDEBIT 040516

CDJ

FERGUSON

201.12

(201.12)

Operating Account PNC (AXI)

4/5/16

DEBIT 040516

CDJ

LOWE’S HOME CENTERS, LLC

2.35

(2.35)

Operating Account PNC (AXI)

4/5/16

DEBIT 040516-1

CDJ

WALMART

79.29

(79.29)

Operating Account PNC (AXI)

4/5/16

EWDEBIT 040516-1

CDJ

WALMART - WACO

170.40

(170.40)

Operating Account PNC (AXI)

4/6/16

DEBIT 040616

CDJ

LOVE’S TRAVEL PLAZA

7.00

(7.00)

Operating Account PNC (AXI)

4/6/16

EWDEBIT 040616

CDJ

MARTIN TOOL & SUPPLY

221.81

(221.81)

Operating Account PNC (AXI)

4/6/16

EWDEBIT 040616-1

CDJ

RICHARDS SUPPLY COMPANY

259.76

(259.76)

Operating Account PNC (AXI)

4/6/16

EWDEBIT 040616-2

CDJ

RICHARDS SUPPLY COMPANY

200.28

(200.28)

Operating Account PNC (AXI)

4/6/16

EWDEBIT 040616-3

CDJ

TRACTOR SUPPLY CO

27.99

(27.99)

Operating Account PNC (AXI)

4/6/16

EWDEBIT 040616-4

CDJ

WALMART - WACO

127.53

(127.53)

Operating Account PNC (AXI)

4/6/16

DIP LOAN DEPOSIT

GENJ

To record deposit from Plastic Ties Financing LLC

400,000.00

Operating Account PNC (AXI)

4/7/16

EWDEBIT 040716

CDJ

RICHARDS SUPPLY COMPANY

478.24

(478.24)

Operating Account PNC (AXI)

4/8/16

WT 040816 - 1

CDJ

EMERALD PACIFIC RESOURCES

45,227.00

(45,227.00)

Operating Account PNC (AXI)

4/8/16

WT 040816 - 2

CDJ

GP HARMON RECYCLING LLC

18,723.60

(18,723.60)

Operating Account PNC (AXI)

4/8/16

WT 040816 - 3

CDJ

AMINO TRANSPORT

6,150.00

(6,150.00)

Operating Account PNC (AXI)

4/8/16

11657

CDJ

ADVANCED POLYMERS SUPPLY INC.

7,674.65

(7,674.65)

Operating Account PNC (AXI)

4/8/16

11658

CDJ

AMERIGAS

376.23

(376.23)

Operating Account PNC (AXI)

4/8/16

11659

CDJ

ATMOS ENERGY

121.95

(121.95)

Operating Account PNC (AXI)

4/8/16

11660

CDJ

CINTAS CORPORATION

548.14

(548.14)

Operating Account PNC (AXI)

4/8/16

11661

CDJ

CINTAS CORPORATION #637

857.53

(857.53)

Operating Account PNC (AXI)

4/8/16

11662

CDJ

COSHOCTON ENVIRONMENTAL TESTIN

60.00

(60.00)

Operating Account PNC (AXI)

4/8/16

11663

CDJ

DUPUY OXYGEN & SUPPLY

23.90

(23.90)

Operating Account PNC (AXI)

4/8/16

11664

CDJ

THE HARTFORD

8,936.43

(8,936.43)

Operating Account PNC (AXI)

4/8/16

11665

CDJ

MICROSOFT

1,454.32

(1,454.32)

Operating Account PNC (AXI)

4/8/16

11666

CDJ

PITNEY BOWES POSTAGE BY PHONE

36.58

(36.58)

Operating Account PNC (AXI)

4/8/16

11667

CDJ

TERMINIX

48.26

(48.26)

Operating Account PNC (AXI)

4/8/16

11668

CDJ

PRO HEAT INC.

442.20

(442.20)

Operating Account PNC (AXI)

4/8/16

11669

CDJ

ZORO.COM

125.27

(125.27)

Operating Account PNC (AXI)

4/8/16

EWDEBIT 040816

CDJ

HOME DEPOT

535.90

(535.90)

Operating Account PNC (AXI)

4/8/16

DEBIT 040816

CDJ

LOWE’S HOME CENTERS, LLC

200.71

(200.71)

Operating Account PNC (AXI)

4/8/16

EWDEBIT 040816-1

CDJ

METALS 2 GO

902.00

(902.00)

Operating Account PNC (AXI)

4/9/16

EWDEBIT 040916

CDJ

IRENE’S FLOWERS & GIFTS

70.36

(70.36)

Operating Account PNC (AXI)

4/10/16

EWDEBIT 041016

CDJ

HOME DEPOT

139.46

(139.46)

Operating Account PNC (AXI)

4/11/16

8528

CRJ

BLACK RHINO

84.00

Operating Account PNC (AXI)

4/11/16

460431

CRJ

NEW JERSEY TRANSIT

32,400.00

Operating Account PNC (AXI)

4/11/16

459073

CRJ

NEW JERSEY TRANSIT

153,000.00

Operating Account PNC (AXI)

4/11/16

626980

CRJ

59.50

Operating Account PNC (AXI)

4/11/16

DEBIT 041116

CDJ

LOWE’S HOME CENTERS, LLC

9.33

(9.33)

Operating Account PNC (AXI)

4/11/16

EWDEBIT 041116

CDJ

MARTIN TOOL & SUPPLY

213.34

(213.34)

Operating Account PNC (AXI)

4/11/16

EWDEBIT 041116-1

CDJ

MURPHY USA

20.00

(20.00)

Operating Account PNC (AXI)

4/11/16

DEBIT 041116-1

CDJ

WALMART

54.42

(54.42)

Operating Account PNC (AXI)

4/11/16

EWDEBIT 041116-2

CDJ

WALMART - WACO

34.60

(34.60)

Operating Account PNC (AXI)

4/11/16

EWDEBIT 041116-3

CDJ

DUPUY OXYGEN & SUPPLY

141.03

(141.03)

Operating Account PNC (AXI)

4/12/16

459218

CRJ

NEW JERSEY TRANSIT

91,800.00

Operating Account PNC (AXI)

4/12/16

ACH 041216 PNC

CRJ

METRO NORTH RAILROAD

17,850.00

Operating Account PNC (AXI)

4/12/16

EWDEBIT 041216

CDJ

AMAZON.COM

82.83

(82.83)

Operating Account PNC (AXI)

4/12/16

DEBIT 041216

CDJ

AMAZON.COM

633.91

(633.91)

Account Description

Date

Reference

Jrnl

Trans Description

Debit Amt

Credit Amt

Balance

CRJ

DiP

CDJ

TRF

Operating Account PNC (AXI)

4/12/16

EWDEBIT 041216-1

CDJ

AMAZON.COM

294.51

(294.51)

Operating Account PNC (AXI)

4/12/16

DEBIT 041216-1

CDJ

AMERICAN LIGHT COMPANY

58.99

(58.99)

Operating Account PNC (AXI)

4/12/16

DEBIT 041216-2

CDJ

AMERICAN LIGHT COMPANY

26.41

Operating Account PNC (AXI)

4/12/16

DEBIT 041216-3

CDJ

AMERICAN LIGHT COMPANY

26.41

(26.41)

Operating Account PNC (AXI)

4/12/16

EWDEBIT 041216-4

CDJ

OLDWILLKNOTTSCALES.COM

219.40

(219.40)

Operating Account PNC (AXI)

4/12/16

EWDEBIT 041216-2

CDJ

L & M ELECTRONICS

7.56

(7.56)

Operating Account PNC (AXI)

4/13/16

ACH 04132016

CDJ

TEXAS COMPTROLLER OF PUBLIC AC

1,904.84

(1,904.84)

Operating Account PNC (AXI)

4/13/16

EWDEBIT 041316

CDJ

OLDWILLKNOTTSCALES.COM

19.24

(19.24)

Operating Account PNC (AXI)

4/13/16

DEBIT 040816-1

CDJ

ZANE FEED AND SUPPLY

53.19

(53.19)

Operating Account PNC (AXI)

4/13/16

EWDEBIT 041316-1

CDJ

CRAWFORD ELECTRIC SUPPLY

32.38

(32.38)

Operating Account PNC (AXI)

4/13/16

EWDEBIT 041316-2

CDJ

CRAWFORD ELECTRIC SUPPLY

16.39

(16.39)

Operating Account PNC (AXI)

4/13/16

EWDEBIT 041316-3

CDJ

HOME DEPOT

606.08

(606.08)

Operating Account PNC (AXI)

4/13/16

EWDEBIT 041316-4

CDJ

Zoro Tools, Inc.

1,191.89

(1,191.89)

Operating Account PNC (AXI)

4/13/16

EWDEBIT 041316-5

CDJ

Zoro Tools, Inc.

20.31

(20.31)

Operating Account PNC (AXI)

4/13/16

DEBIT 041316

CDJ

AMAZON.COM

2,684.48

(2,684.48)

Operating Account PNC (AXI)

4/13/16

EWDEBIT 041316-6

CDJ

CRAWFORD ELECTRIC SUPPLY

160.21

(160.21)

Operating Account PNC (AXI)

4/13/16

ACH 04132016 #2

CDJ

TEXAS COMPTROLLER OF PUBLIC AC

52.00

(52.00)

Operating Account PNC (AXI)

4/13/16

EFT04132016

CDJ

OHIO DEPT OF TAXATION

150.00

(150.00)

Operating Account PNC (AXI)

4/14/16

11670

CDJ

AMERIGAS

378.61

(378.61)

Operating Account PNC (AXI)

4/14/16

11671

CDJ

NETWORK BILLING SYSTEM, LLC.

97.88

(97.88)

Operating Account PNC (AXI)

4/14/16

11672

CDJ

CITY OF ZANESVILLE

111.60

(111.60)

Operating Account PNC (AXI)

4/14/16

11673

CDJ

COMDOC, INC.

354.96

(354.96)

Operating Account PNC (AXI)

4/14/16

11674

CDJ

COSHOCTON ENVIRONMENTAL TESTIN

120.00

(120.00)

Operating Account PNC (AXI)

4/14/16

11675

CDJ

PRO HEAT INC.

424.90

(424.90)

Operating Account PNC (AXI)

4/14/16

11676

CDJ

SPOONER INC.

175.00

(175.00)

Operating Account PNC (AXI)

4/14/16

11677

CDJ

TIME WARNER CABLE

802.10

(802.10)

Operating Account PNC (AXI)

4/14/16

11678

CDJ

UPS

19.45

(19.45)

Operating Account PNC (AXI)

4/14/16

11679

CDJ

Zoro Tools, Inc.

135.29

(135.29)

Operating Account PNC (AXI)

4/14/16

WT 041416 PNC

CDJ

AMINO TRANSPORT

8,000.00

(8,000.00)

Operating Account PNC (AXI)

4/14/16

WT 041416-1 PNC

CDJ

EPIQ BANKRUPTCY SOLUTIONS

45,859.54

(45,859.54)

Operating Account PNC (AXI)

4/14/16

DEBIT 041416

CDJ

AMAZON.COM

2,684.48

Operating Account PNC (AXI)

4/14/16

EWDEBIT 041416

CDJ

RICHARDS SUPPLY COMPANY

48.96

(48.96)

Operating Account PNC (AXI)

4/15/16

ACH 041516 PNC

CRJ

RAILWORKS

67,288.00

Operating Account PNC (AXI)

4/15/16

DEBIT 041516

CDJ

HOME DEPOT

25.64

(25.64)

Operating Account PNC (AXI)

4/15/16

DEBIT 041516-1

CDJ

WALMART

49.17

(49.17)

Operating Account PNC (AXI)

4/15/16

EWDEBIT 041516

CDJ

MURPHY USA

30.00

(30.00)

Operating Account PNC (AXI)

4/15/16

EWDEBIT 041516-1

CDJ

RICHARDS SUPPLY COMPANY

548.40

(548.40)

Operating Account PNC (AXI)

4/15/16

EWDEBIT 041516-2

CDJ

ZORO TOOLS, INC.

123.56

(123.56)

Operating Account PNC (AXI)

4/18/16

DEBIT 041816

CDJ

LOVE’S TRAVEL PLAZA

7.00

(7.00)

Operating Account PNC (AXI)

4/18/16

EWDEBIT 041816

CDJ

HOLUBEC MACHINE, INC.

757.75

(757.75)

Operating Account PNC (AXI)

4/18/16

EWDEBIT 041816-1

CDJ

ZORO TOOLS, INC.

377.88

(377.88)

Operating Account PNC (AXI)

4/18/16

DEBIT 041816-1

CDJ

1.73

(1.73)

Operating Account PNC (AXI)

4/19/16

11680

CDJ

DOL-OSHA

6,300.00

(6,300.00)

Operating Account PNC (AXI)

4/19/16

EWDEBIT 041916

CDJ

HOME DEPOT

117.88

(117.88)

Operating Account PNC (AXI)

4/19/16

DEBIT 041916

CDJ

UNITED STATES POST OFFICE

6.47

(6.47)

Operating Account PNC (AXI)

4/19/16

ACH 041916 PNC

CRJ

METRO NORTH RAILROAD

17,850.00

Operating Account PNC (AXI)

4/19/16

EWDEBIT 041916-1

CDJ

STAPLES.COM

1,407.14

(1,407.14)

Operating Account PNC (AXI)

4/19/16

EWDEBIT 041916-2

CDJ

HOLUBEC MACHINE, INC.

649.50

(649.50)

Operating Account PNC (AXI)

4/19/16

EWDEBIT 041916-3

CDJ

UNIVERSAL FOREST PRODUCT

688.80

(688.80)

Operating Account PNC (AXI)

4/20/16

DEBIT 042016

CDJ

AMERICAN PRIDE POWER EQUIP

11.80

(11.80)

Operating Account PNC (AXI)

4/20/16

DEBIT 042016-1

CDJ

MILLERWELDS.COM

2,654.44

(2,654.44)

Operating Account PNC (AXI)

4/20/16

WT 042016 PNC

CRJ

H J SKELTON (CANADA) LTD

27,811.76

Operating Account PNC (AXI)

4/20/16

460906

CRJ

NEW JERSEY TRANSIT

98,300.00

Operating Account PNC (AXI)

4/20/16

EWDEBIT 042016

CDJ

DUPUY OXYGEN & SUPPLY

334.80

(334.80)

Operating Account PNC (AXI)

4/20/16

EWDEBIT 042016-1

CDJ

LIFT PARTS WAREHOUSE

57.61

(57.61)

Operating Account PNC (AXI)

4/20/16

EWDEBIT 042015

CDJ

USA FLAG STORE

72.05

(72.05)

Operating Account PNC (AXI)

4/21/16

DEBIT 042116

CDJ

HOME DEPOT

224.14

(224.14)

Operating Account PNC (AXI)

4/21/16

DEBIT 042116-1

CDJ

LOVE’S TRAVEL PLAZA

18.00

(18.00)

Operating Account PNC (AXI)

4/21/16

EWDEBIT 042116

CDJ

D.E. SHIPP BELTING CO.

866.71

(866.71)

Operating Account PNC (AXI)

4/21/16

11681

CDJ

CINTAS CORPORATION

180.62

(180.62)

Operating Account PNC (AXI)

4/21/16

11682

CDJ

CONFIDENTIAL MOBILE SHREDDING

20.00

(20.00)

Operating Account PNC (AXI)

4/21/16

11683

CDJ

COSHOCTON ENVIRONMENTAL TESTIN

60.00

(60.00)

Operating Account PNC (AXI)

4/21/16

11684

CDJ

THE ENERGY COOPERATIVE

1,934.25

(1,934.25)

Operating Account PNC (AXI)

4/21/16

11685

CDJ

THE HARTFORD

5,050.90

(5,050.90)

Operating Account PNC (AXI)

4/21/16

11686

CDJ

PRO HEAT INC.

2,092.85

(2,092.85)

Operating Account PNC (AXI)

4/21/16

11687

CDJ

SUNBELT RENTALS

1,274.67

(1,274.67)

Operating Account PNC (AXI)

4/21/16

11688

CDJ

TIME WARNER CABLE

456.78

(456.78)

Operating Account PNC (AXI)

4/21/16

11689

CDJ

UPS

252.87

(252.87)

Account Description

Date

Reference

Jrnl

Trans Description

Debit Amt

Credit Amt

Balance

CRJ

DiP

CDJ

TRF

Operating Account PNC (AXI)

4/21/16

11690

CDJ

VERIZON WIRELESS

425.51

(425.51)

Operating Account PNC (AXI)

4/21/16

11691

CDJ

VINTAGE FILINGS

618.00

(618.00)

Operating Account PNC (AXI)

4/21/16

EWDEBIT 042116-1

CDJ

UNITED REFRIGERATION INC

19.95

(19.95)

Operating Account PNC (AXI)

4/21/16

EWDEBIT 042116-2

CDJ

HOLUBEC MACHINE, INC.

757.75

(757.75)

Operating Account PNC (AXI)

4/22/16

8553

CRJ

BLACK RHINO

84.00

Operating Account PNC (AXI)

4/22/16

11692

CDJ

AMINO TRANSPORT

8,970.00

(8,970.00)

Operating Account PNC (AXI)

4/22/16

11693

CDJ

SCHNEIDER NATIONAL, INC.

505.00

(505.00)

Operating Account PNC (AXI)

4/22/16

WT 042116 PNC

CRJ

ALCOA FASTENING SYSTEMS

90,161.90

Operating Account PNC (AXI)

4/22/16

EWDEBIT 042216

CDJ

HOME DEPOT

231.93

(231.93)

Operating Account PNC (AXI)

4/25/16

DEBIT 042516

CDJ

LOWE’S HOME CENTERS, LLC

69.58

(69.58)

Operating Account PNC (AXI)

4/25/16

EWDEBIT 42516

CDJ

EHARBOR FREIGHT TOOLS

232.00

(232.00)

Operating Account PNC (AXI)

4/25/16

EWDEBIT 042516

CDJ

HOME DEPOT

96.12

(96.12)

Operating Account PNC (AXI)

4/25/16

EWDEBIT 042516-1

CDJ

SAFETY SIGN.COM

56.18

(56.18)

Operating Account PNC (AXI)

4/26/16

EWDEBIT 042616

CDJ

ACR SUPPLY (GEMAIRE DISTR)

91.45

(91.45)

Operating Account PNC (AXI)

4/26/16

EWDEBIT 042616-1

CDJ

APPLIED INDUSTRIAL TECHNOLOGIE

42.96

(42.96)

Operating Account PNC (AXI)

4/26/16

EWDEBIT 042616-2

CDJ

HOME DEPOT

421.77

(421.77)

Operating Account PNC (AXI)

4/26/16

EWDEBIT 042616-3

CDJ

NAPA AUTO PARTS

140.32

(140.32)

Operating Account PNC (AXI)

4/26/16

EWDEBIT 042616-4

CDJ

SMOOT-ANDERSON CO., INC.

421.19

(421.19)

Operating Account PNC (AXI)

4/26/16

EWDEBIT 042616-5

CDJ

HEB FOOD-DRUGS

20.00

(20.00)

Operating Account PNC (AXI)

4/26/16

EWDEBIT 042616-6

CDJ

HOME DEPOT

15.30

(15.30)

Operating Account PNC (AXI)

4/26/16

DEBIT 042616

CDJ

AMAZON.COM

339.11

(339.11)

Operating Account PNC (AXI)

4/27/16

EWDEBIT 042716

CDJ

CRAWFORD ELECTRIC SUPPLY

151.64

(151.64)

Operating Account PNC (AXI)

4/27/16

EWDEBIT 042716-1

CDJ

JOHNSON SUPPLY

22.94

(22.94)

Operating Account PNC (AXI)

4/27/16

EWDEBIT 042716-2

CDJ

UNITED REFRIGERATION INC

162.01

(162.01)

Operating Account PNC (AXI)

4/28/16

WT 042816 PNC

CDJ

GP HARMON RECYCLING LLC

61,062.68

(61,062.68)

Operating Account PNC (AXI)

4/28/16

WT 042816-1 PNC

CDJ

AMINO TRANSPORT

8,000.00

(8,000.00)

Operating Account PNC (AXI)

4/28/16

WT 042816-2 PNC

CDJ

SCHNEIDER NATIONAL

1,010.00

(1,010.00)

Operating Account PNC (AXI)

4/28/16

EWDEBIT 042816

CDJ

AMAZON.COM

142.88

(142.88)

Operating Account PNC (AXI)

4/28/16

EWDEBIT 042816-1

CDJ

CRAWFORD ELECTRIC SUPPLY

1,428.90

(1,428.90)

Operating Account PNC (AXI)

4/28/16

EWDEBIT 042816-2

CDJ

CRAWFORD ELECTRIC SUPPLY

123.24

(123.24)

Operating Account PNC (AXI)

4/28/16

EWDEBIT 042816-3

CDJ

WALMART - WACO

74.72

(74.72)

Operating Account PNC (AXI)

4/28/16

EWDEBIT 042816-4

CDJ

WALMART - WACO

4.30

(4.30)

Operating Account PNC (AXI)

4/28/16

EWDEBIT 042816-5

CDJ

ZORO TOOLS, INC.

228.22

(228.22)

Operating Account PNC (AXI)

4/29/16

11694

CDJ

AMERIGAS

555.45

(555.45)

Operating Account PNC (AXI)

4/29/16

11695

CDJ

AMERICAN ELECTRIC POWER

5,945.97

(5,945.97)

Operating Account PNC (AXI)

4/29/16

11696

CDJ

ANTHEM BCBS OH GROUP

29,379.17

(29,379.17)

Operating Account PNC (AXI)

4/29/16

11697

CDJ

ANTHEM DENTAL

1,806.82

(1,806.82)

Operating Account PNC (AXI)

4/29/16

11698

CDJ

ANTHEM LIFE

265.50

(265.50)

Operating Account PNC (AXI)

4/29/16

11699

CDJ

CINTAS CORPORATION

694.31

(694.31)

Operating Account PNC (AXI)

4/29/16

11700

CDJ

COASTAL COMPOUNDED RESINS

3,947.20

(3,947.20)

Operating Account PNC (AXI)

4/29/16

11701

CDJ

COMDOC

206.36

(206.36)

Operating Account PNC (AXI)

4/29/16

11702

CDJ

DIRECT ENERGY BUSINESS

20,708.58

(20,708.58)

Operating Account PNC (AXI)

4/29/16

11703

CDJ

FORD CREDIT

506.48

(506.48)

Operating Account PNC (AXI)

4/29/16

11704

CDJ

LIFT LEASE & FINANCE CORP

6,608.74

(6,608.74)

Operating Account PNC (AXI)

4/29/16

11705

CDJ

PARSONS OFFICE SYSTEMS INC

54.00

(54.00)

Operating Account PNC (AXI)

4/29/16

11706

CDJ

PRO HEAT INC.

6,450.04

(6,450.04)

Operating Account PNC (AXI)

4/29/16

11707

CDJ

RING CENTRAL

1,124.61

(1,124.61)

Operating Account PNC (AXI)

4/29/16

11708

CDJ

UPS

18.25

(18.25)

Operating Account PNC (AXI)

4/29/16

11709

CDJ

WORTH HYDROCHEM OF CENT TEXAS

725.00

(725.00)

Operating Account PNC (AXI)

4/29/16

ACH 043016 PNC

CDJ

AFLAC

218.76

(218.76)

Operating Account PNC (AXI)

4/29/16

11702V

CDJ

DIRECT ENERGY BUSINESS

20,708.58

Operating Account PNC (AXI)

4/29/16

11711

CDJ

DIRECT ENERGY BUSINESS

28,642.14

(28,642.14)

Operating Account PNC (AXI)

4/29/16

11712

CDJ

FEHRMAN TOOL & DIE CO.

3,125.00

(3,125.00)

Operating Account PNC (AXI)

4/29/16

9016901

CRJ

THE CITY OF CALGARY

19,000.00

Operating Account PNC (AXI)

4/29/16

DEBIT 042916

CDJ

SAGE SOFTWARE INC

170.90

(170.90)

Operating Account PNC (AXI)

4/29/16

11710

CDJ

OHIO BUREAU OF WORKERS’ COMPEN

6,669.00

(6,669.00)

Operating Account PNC (AXI)

4/29/16

EWDEBIT 042916

CDJ

CENTRAL TEXAS SECURITY & FIRE

108.25

(108.25)

Operating Account PNC (AXI)

4/29/16

EWDEBIT 042916-1

CDJ

METALS 2 GO

23.00

(23.00)

Operating Account PNC (AXI)

4/29/16

EWDEBIT 042916-2

CDJ

RED EXPRESS PALLET

348.57

(348.57)

Operating Account PNC (AXI)

4/30/16

0430PNCOA

GENJ

To record bank fees for April 2016

446.50

(446.50)

Operating Account PNC (AXI)

4/30/16

0430PNCOA

GENJ

To record transfer of funds from the operating account to the payroll account

150,000.00

(150,000.00)

Operating Account PNC (AXI)

4/30/16

0430PNCOA

GENJ

To record transfer of funds from the operating account to the payroll account

173,000.00

(173,000.00)

Operating Account PNC (AXI)

Current Period Change

1,141,488.73

732,514.32

408,974.41

4/30/16

Ending Balance

671,354.61

Payroll Account PNC (AXI)

4/1/16

Beginning Balance

7,060.78

Payroll Account PNC (AXI)

4/30/16

0430-PAYR

GENJ

Payroll for April 2016

328,139.13

(328,139.13)

Payroll Account PNC (AXI)

4/30/16

0430PNCOA

GENJ

To record transfer of funds from the operating account to the payroll account

150,000.00

Account Description

Date

Reference

Jrnl

Trans Description

Debit Amt

Credit Amt

Balance

CRJ

DiP

CDJ

TRF

Payroll Account PNC (AXI)

4/30/16

0430PNCOA

GENJ

To record transfer of funds from the operating account to the payroll account

173,000.00

Payroll Account PNC (AXI)

4/30/16

0430PNCPA

GENJ

To record bank fee for April 2016

49.00

(49.00)

Payroll Account PNC (AXI)

4/30/16

0430PNCPA

GENJ

To record recurring Paychex fee for “Obomacare” reporting

176.00

(176.00)

Payroll Account PNC (AXI)

Current Period Change

323,000.00

328,364.13

(5,364.13)

4/30/16

Ending Balance

1,696.65

Utility Deposit Account

4/1/16

Beginning Balance

9,498.56

Utility Deposit Account

4/30/16

0430PNCUDA

GENJ

To record bank fee for April 2016

50.00

(50.00)

Utility Deposit Account

Current Period Change

50.00

(50.00)

4/30/16

Ending Balance

9,448.56

707,669.26

400,000.00

(375,744.85)

(328,364.13)

Beginning balance

278,940

DiP advances

400,000

AR Collections

707,669

Disbursements - PR

(328,364)

Disbursements - Other

(375,745)

Ending balance, per GL

682,500

Monthend reconciling items - cash report vs. GL

385

682,885

In re: Axion International, Inc.	Case No.: 15-12415
Debtor	Reporting Period: April 2016

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	$	302,840		$	3,523,320
Less: Returns and Allowances	$	-		$	-
Net Revenue	$	302,840		$	3,523,320
COST OF GOODS SOLD
Beginning Inventory	$	1,685,625		$	7,746,460
Add: Purchases	$	114,476		$	2,190,040
Add: Cost of Labor & Production Costs	$	469,263		$	2,365,957
Add: Other Costs (attach schedule)	$	42,836		$	287,344
Less: Ending Inventory	$	(1,763,395	)	$	(7,707,362	)
Cost of Goods Sold	$	548,805		$	4,882,439
Gross Profit	$	(245,965	)	$	(1,359,119	)
OPERATING EXPENSES
Personnel Costs - Sales & Marketing	$	94,241		$	257,697
Personnel Costs - General & Administrative	$	89,947		$	454,365
Travel & Meals	$	19,965		$	79,970
Advertising, Trade Shows & Customer Relationship	$	-		$	32,930
Office Expenses	$	17,627		$	50,075
Board of Directors	$	-		$	(12,074	)
Investor Relations & Shareholders Services	$	1,133		$	3,215
Insurance	$	30,533		$	144,454
Legal & Other Professional Fees	$	7,783		$	25,647
Other (attach schedule)	$	-		$	-
Total Operating Expenses Before Depreciation	$	261,229		$	1,036,279
Depreciation/Depletion/Amortization	$	10,196		$	50,962
Net Profit (Loss) Before Other Income & Expenses	$	(517,390	)	$	(2,446,360	)
OTHER INCOME AND EXPENSES
Other Income (attach schedule)	$	-		$	(4,000,000	)
Interest Expense	$	86,290		$	303,243
Other Expense (attach schedule)	$	-		$	-
Net Profit (Loss) Before Reorganization Items	$	(603,680	)	$	1,250,397
REORGANIZATION ITEMS
Professional Fees	$	45,250		$	735,637
U. S. Trustee Quarterly Fees	$	-		$	7,150
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)	$	(648,930	)	$	507,609

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

In re: Axion International, Inc.	Case No.: 15-12415
Debtor	Reporting Period: April 2016

STATEMENT OF OPERATIONS - continuation sheet

				Cumulative
BREAKDOWN OF “OTHER” CATEGORY	Month			Filing to Date

Other Costs
Freight costs to customers	$	(2,245	)	$	18,644
Royalties Under License	$	3,262		$	51,668
Purchasing & Product Development departments	$	41,819		$	215,770
Product Development	$	-		$	1,262

Other Operational Expenses





Other Income
Gain on Extinguishment of Debt	$	-		$	4,000,000




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.

In re Axion International, Inc.	Case No. 15-12415
Debtor	Reporting Period: April 2016

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
ASSETS	CURRENT REPORTING MONTH			PETITION DATE
CURRENT ASSETS
Unrestricted Cash and Equivalents	$	682,500		$	134,421
Restricted Cash and Cash Equivalents (see continuation sheet)	$	-		$	-
Accounts Receivable (Net)	$	719,466		$	2,034,172
Notes Receivable	$	-		$	-
Inventories	$	1,763,395		$	1,803,405
Prepaid Expenses	$	148,633		$	114,429
Professional Retainers	$	-		$	-
Other Current Assets (attach schedule)	$	-		$	-
TOTAL CURRENT ASSETS	$	3,313,994		$	4,086,426
PROPERTY AND EQUIPMENT
Real Property and Improvements	$	-		$	-
Machinery and Equipment	$	11,447,170		$	11,484,181
Furniture, Fixtures and Office Equipment	$	259,596		$	259,596
Leasehold Improvements	$	58,467		$	19,818
Vehicles	$	-		$	-
Less Accumulated Depreciation	$	(3,863,274	)	$	(3,320,092	)
TOTAL PROPERTY & EQUIPMENT	$	7,901,959		$	8,443,503
OTHER ASSETS
Loans to Insiders*	$	-		$	-
Other Assets (attach schedule)	$	-		$	-
TOTAL OTHER ASSETS	$	-		$	-

TOTAL ASSETS	$	11,215,953		$	12,529,929

	BOOK VALUE AT END OF			BOOK VALUE ON
LIABILITIES AND OWNER EQUITY	CURRENT REPORTING MONTH			PETITION DATE
LIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition)
Accounts Payable	$	69,657		$	-
Taxes Payable (refer to FORM MOR-4)	$	119,539		$	73,275
Wages Payable	$	197,884		$	202,788
Notes Payable	$	-		$	-
Rent / Leases - Building/Equipment	$	650,751		$	554,793
Secured Debt / Adequate Protection Payments	$	2,050,000		$	200,000
Professional Fees	$	-		$	-
Amounts Due to Insiders*	$	-		$	-
Other Postpetition Liabilities (attach schedule)	$	932,319		$	673,980
TOTAL POSTPETITION LIABILITIES	$	4,020,150		$	1,704,837
LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)
Secured Debt	$	9,472,614		$	9,386,118
Priority Debt	$	-		$	-
Unsecured Debt	$	2,871,849		$	7,083,172
TOTAL PRE-PETITION LIABILITIES	$	12,344,464		$	16,469,290

TOTAL LIABILITIES	$	16,364,614		$	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	$	507,611		$	-
Adjustments to Owner Equity (attach schedule)	$	-		$	-
Postpetition Contributions (Distributions) (Draws) (attach schedule)	$	-		$	-
NET OWNER EQUITY	$	(5,148,660	)	$	(5,644,197	)

TOTAL LIABILITIES AND OWNERS’ EQUITY	$	11,215,953		$	12,529,929

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

In re: Axion International, Inc.		Case No.: 15-12415
Debtor		Reporting Period: April 2016

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	$	86,100	$	167,300
Sales tax payable	$	44,944	$	45,141
Ford credit truck loan	$	19,304	$	21,261
Bureau of Workers Comp - Ohio	$	12,431	$	16,577
Royalties payable	$	135,855	$	147,503
Accrued interest	$	592,371	$	276,198
Utilities	$	37,814	$	-
Miscellaneous	$	3,500	$	-
(a) - plugged by negative $38; probably due to mis-posted prior period adjustment

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.

In re: Axion International, Inc.	Case No. 15-12415
Debtor	Reporting Period: April 2016

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

Liability

Accrued

Paid

or EFT

Liability

Federal

Withholding

FICA-Employee

FICA-Employer

Through our payroll processor, Paychex, we have remitted and filed

Unemployment

our tax returns when due.

Income

Other:_________________

Total Federal Taxes

State and Local

Withholding

Sales

Excise

Through our payroll processor, Paychex, we have remitted and filed

Unemployment

our tax returns when due.

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	$	69,657	$	-	$	-	$	-	$	-	$	69,657
Wages & Benefits Payable	$	197,884	$	-	$	-	$	-	$	-	$	197,884
Taxes Payable	$	164,483	$	-	$	-	$	-	$	-	$	164,483
Rent/Leases-Building	$	650,751	$	-	$	-	$	-	$	-	$	650,751
Rent/Leases-Equipment											$	-
Secured Debt/Adequate Protection Payments	$	2,050,000	$	-	$	-	$	-	$	-	$	2,050,000
Professional Fees											$	-
Miscellaneous	$	3,500									$	3,500
Truck loan	$	19,304									$	19,304
Interest	$	592,371									$	592,371
Customer deposits	$	86,100									$	86,100
Ohio Bureau of W/C	$	12,431									$	12,431
Utilities	$	37,814									$	37,814
Royalties payable	$	135,855									$	135,855
Total Postpetition Debts	$	4,020,150	$	-	$	-	$	-	$	-	$	4,020,150

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).

In re Axion International, Inc.	Case No. 15-12415 (15-12416 & 15-12417)
Debtor	Reporting Period: April 2016

AXION INTERNATIONAL INC

Aged Payables

As of Apr 30, 2016

Vendor	Date	Date Due	Invoice/CM #	0 - 30			31 - 60		61 - 90		Over 90 days		Amount Due
ADVANCED POLYMERS SUPPLY INC.					9,569.30			-		-		-		9,569.30
AMERIGAS					817.50			-		-		-		817.50
AMERICAN ELECTRIC POWER					(1,284.37	)		-		-		-		(1,284.37	)
ATMOS ENERGY					360.91			-		-		-		360.91
BAKER & MCKENZIE CIS LIMITED					485.32			-		-		-		485.32
BERESKIN & PARR					797.29			-		-		-		797.29
CINTAS CORPORATION					756.11			-		-		-		756.11
CINTAS CORPORATION #637					857.53			-		-		-		857.53
CITY OF WACO WATER					2,934.42			-		-		-		2,934.42
COASTAL COMPOUNDED RESINS					4,811.20			-		-		-		4,811.20
COMPUTERSHARE, INC					523.80			-		-		-		523.80
DUPUY OXYGEN & SUPPLY					25.54			-		-		-		25.54
FORD CREDIT					(506.48	)		-		-		-		(506.48	)
GP HARMON RECYCLING LLC					29,015.68			-		-		-		29,015.68
THE HARTFORD					764.20			-		-		-		764.20
WILLIAM JORDAN					4,872.68			-		-		-		4,872.68
KERRY D. IRONS, M.D., P.A.					56.00			-		-		-		56.00
MICROSOFT CORPORATION					1,454.32			-		-		-		1,454.32
MUSKINGUM COUNTY UTILITIES					4,399.75			-		-		-		4,399.75
PINNACLE RECYCLING					-			-		1,296.75		-		1,296.75
PITNEY BOWES GLOBAL FINANCIAL SERVICES					106.18			-		-		-		106.18
PRO HEAT INC.					4,679.07			-		-		-		4,679.07
RING CENTRAL					21.34			-		-		-		21.34
SOUTHGATE PROCESS EQUIPMENT, INC.					861.50			-		-		-		861.50
SPOONER INC.					175.00			-		-		-		175.00
SUNBELT RENTALS					1,274.67			-		-		-		1,274.67
UPS					26.99			-		-		-		26.99
ZORO TOOLS, INC.					504.93			-		-		-		504.93

					68,360.38			-		1,296.75		-		69,657.13

In re: Axion International, Inc.	Case No.: 15-12415
Debtor	Reporting Period: April 2016

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

Accounts Receivable Reconciliation (See below for additional detail to reconciliation)	Amount
Total Accounts Receivable at the beginning of the reporting period	$	1,168,048
+ Amounts billed during the period	$	329,249
- Amounts collected during the period	$	(708,624	)
Total Accounts Receivable at the end of the reporting period	$	788,673	(a)

Accounts Receivable Aging	Amount
0 - 30 days old	$	531,869
31 - 60 days old	$	85,393
61 - 90 days old	$	106,890
91+ days old	$	64,521
Total Accounts Receivable	$	788,674
Amount considered uncollectible (Bad Debt)	$	(69,208	)
Accounts Receivable (Net)	$	719,466

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.		No

(a) Reconciliation of AR
Beginning balance	1,168,048
Sales as reported on MOR 2	302,840
Miscellaneous cash receipt, not Sales	60
Freight recorded as a dr to COS, not sales	26,350
Collections, per MOR-1	(707,669	)
Customer wire fee	(10	)
Month-end cutoff	(945	)
Ending balance	788,673

AXION INTERNATIONAL HOLDINGS, INC. - FORM 8-K - EX-99.2 - EXHIBIT 99.2 - May 18, 2016

Attached files

AXION INTERNATIONAL HOLDINGS, INC. Reports