Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - Nuo Therapeutics, Inc. | v453408_8k.htm |
Exhibit 99.1
OFFICE OF THE UNITED STATES TRUSTEE - REGION 3
POST-CONFIRMATION QUARTERLY SUMMARY REPORT
This Report is to be submitted for all bank accounts that are presently maintained by the post confirmation debtor.
| Debtor's Name: | Nuo Therapeutics, Inc. | Bank: | Capital One | |
| Bankruptcy Number: | 16-10192 (MFW) | Account Number: | all accounts | |
| Date of Confirmation: | May 5, 2016 (Effective Date) | Account Type: | checking, money market and CD | |
| Reporting Period (month/year): | July 1, 2016 – September 30, 2016 |
| Beginning Cash Balance: | $ | 6,116,262 | ** | |
| All receipts received by the debtor: | ||||
| Cash Sales: | $ | 62,300 | ||
| Collection of Accounts Receivable: | $ | 643,837 | ||
| Proceeds from Litigation (settlement or otherwise): | $ | 0 | ||
| Sale of Debtor's Assets: | $ | 0 | ||
| Capital Infusion pursuant to the Plan: | $ | 0 | ||
| Total of cash received: | $ | 706,137 | ||
| Total of cash available: | $ | 6,822,399 |
Less all disbursements or payments (including payments made under the confirmed plan) made by the Debtor:
| Disbursements made under the plan, excluding the administrative claims of bankruptcy professionals: | $ | 229,642 | ||
| Disbursements made pursuant to the administrative claims of bankruptcy professionals: | $ | 317,087 | ||
| All other disbursements made in the ordinary course: | $ | 2,346,941 | ||
| Total Disbursements | $ | 2,893,670 | ||
| Ending Cash Balance | $ | 3,928,729 |
** The beginning cash balance has been adjusted to reflect the Nuo Therapeutics, Inc. general ledger balance as of June 30, 2016 which had not been finalized on the date last reported.
Pursuant to 28 U.S.C. Section 1746(2), I hereby declare under penalty of perjury that the foregoing is true and correct to the best of my knowledge and belief.
| 11-11-2016 | /s/ David E. Jorden | ||
| Date | David E. Jorden - CEO/CFO |
| Debtor: | Nuo Therapeutics, Inc. | |
| Case Number: | 16-10192 |
| In re Nuo Therapeutics, Inc. | Case No. 16-10192 (MFW) |
| Debtor | Reporting Period: September 30, 2016 |
QOR
CONSOLIDATED BALANCE SHEET (UNAUDITED) 1
| Line item | Current period | |||
| ASSETS | ||||
| Current assets | ||||
| Cash and cash equivalents and restricted cash | 3,932,342 | |||
| Accounts receivable | 89,011 | |||
| Intercompany receivable | - | |||
| Other receivables | 817,640 | |||
| Inventory | 48,225 | |||
| Deposits | 402,667 | |||
| Prepaid expenses | 326,387 | |||
| Deferred costs, current portion | - | |||
| Total current assets | 5,616,272 | |||
| Property, plant and equipment 2 | ||||
| Angel machines | 270,494 | |||
| Aurix centrifuges | 924,970 | |||
| Computer and office equipment | 101,978 | |||
| Furniture and fixtures | 40,849 | |||
| Production equipment | 307,851 | |||
| Leasehold improvements | 417,182 | |||
| Software | 523,571 | |||
| Less: Accumulated depreciation | (1,895,813 | ) | ||
| Net property, plant and equipment | 691,082 | |||
| Other assets | ||||
| Deferred costs, long-term portion | - | |||
| Investment, Aldagen 2 | - | |||
| Intangible assets, net of accumulated amortization 2 | 8,053,425 | |||
| Goodwill | 2,079,284 | |||
| Other long-term assets | 308,937 | |||
| Total other assets | 10,441,646 | |||
| TOTAL ASSETS | 16,749,000 | |||
| LIABILITIES AND OWNERS' EQUITY | ||||
| Liabilities not subject to compromise | ||||
| Accounts payable | 473,398 | |||
| Accrued compensation and benefits | 132,147 | |||
| Accrued expenses | 877,571 | |||
| Accrued taxes | 1,155 | |||
| Accrued interest | - | |||
| Customer deposits | 113,438 | |||
| Debtor-in-possession financing | - | |||
| Convertible debt | - | |||
| Deferred revenue | - | |||
| Derivative liabilities | - | |||
| Other long-term liabilities | 143,191 | |||
| Total liabilities not subject to compromise | 1,740,900 | |||
| Liabilities subject to compromise 3 | ||||
| Accounts payable | 24,892 | |||
| Accrued compensation and benefits | - | |||
| Accrued expenses | 612 | |||
| Accrued taxes | 16,722 | |||
| Accrued interest | - | |||
| Customer deposits | 70,737 | |||
| Debtor-in-possession financing | - | |||
| Convertible debt | - | |||
| Deferred revenue | - | |||
| Derivative liabilities | - | |||
| Other long-term liabilities | - | |||
| Total liabilities subject to compromise | 112,963 | |||
| Shareholders' equity | ||||
| Mezzanine equity | - | |||
| Common stock | 993 | |||
| Preferred Stock | 3 | |||
| Additional paid-in capital | 18,105,657 | |||
| Retained earnings / (losses), pre-petition 3 | - | |||
| Retained earnings / (losses), post-emergence | (3,211,516 | ) | ||
| Total shareholders' equity | 14,895,137 | |||
| TOTAL LIABILITIES AND OWNERS' EQUITY | 16,749,000 | |||
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. NOTE: The unaudited balance sheet reported for September 30, 2016, includes the accounts of Nuo Therapeutics, Inc. and its wholly-owned and controlled subsidiary Aldagen, Inc. ("Aldagen"). All significant inter-company accounts and transactions have been eliminated in consolidation. The NUO Therapetuics, Inc. unconsolidated balance sheet as of September 30, 2016 would not be appropriate or meaningful after applying fresh-start accounting.