Attached files
| file | filename |
|---|---|
| EX-99.2 - EXHIBIT 99.2 - LIFE PARTNERS HOLDINGS INC | v453536_ex99-2.htm |
| EX-99.1 - EXHIBIT 99.1 - LIFE PARTNERS HOLDINGS INC | v453536_ex99-1.htm |
| 8-K - FORM 8-K - LIFE PARTNERS HOLDINGS INC | v453536_8k.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 | 2016 | ||
| 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 | 11/21/2016 | |
| PRINTED NAME OF RESPONSIBLE PARTY | DATE | |
| PREPARER: | ||
| /s/ Paula Toy | Vice-President/Controller | |
| ORIGINAL SIGNATURE OF PREPARER | TITLE | |
| Paula Toy | 11/21/2016 | |
| 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 | AUGUST | SEPTEMBER | OCTOBER | |||||||||||||||
| ASSETS | ||||||||||||||||||
| 1. | UNRESTRICTED CASH | $ | 1,744,873 | $ | 119,470 | $ | 558,539 | $ | 565,753 | |||||||||
| 2. | RESTRICTED CASH | |||||||||||||||||
| 3. | TOTAL CASH | $ | 1,744,873 | $ | 119,470 | $ | 558,539 | $ | 565,753 | |||||||||
| 4. | ACCOUNTS RECEIVABLE (NET) | $ | 2,741,107 | 2 | ||||||||||||||
| 5. | INVENTORY | |||||||||||||||||
| 6. | NOTES RECEIVABLE | |||||||||||||||||
| 7. | PREPAID EXPENSES | |||||||||||||||||
| 8. | OTHER (ATTACH LIST) | $ | 0 | $ | 0 | $ | 0 | |||||||||||
| 9. | TOTAL CURRENT ASSETS | $ | 4,485,981 | $ | 119,470 | $ | 558,539 | $ | 565,753 | |||||||||
| 10. | PROPERTY, PLANT & EQUIPMENT | |||||||||||||||||
| 11. | LESS: ACCUMULATED DEPRECIATION/DEPLETION | |||||||||||||||||
| 12. | NET PROPERTY, PLANT & EQUIPMENT | $ | 0 | $ | 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 | $ | 119,470 | $ | 558,539 | $ | 565,753 | |||||||||
| POSTPETITION LIABILITIES | ||||||||||||||||||
| 17. | ACCOUNTS PAYABLE | $ | 0 | $ | 0 | $ | 0 | |||||||||||
| 18. | TAXES PAYABLE | |||||||||||||||||
| 19. | NOTES PAYABLE | |||||||||||||||||
| 20. | PROFESSIONAL FEES | $ | 288,957 | $ | 317,654 | $ | 290,070 | |||||||||||
| 21. | SECURED DEBT | |||||||||||||||||
| 22. | OTHER (ATTACH LIST) | $ | 6,113 | $ | 872 | $ | (1,037 | ) | ||||||||||
| 23. | TOTAL POSTPETITION LIABILITIES | $ | 295,070 | $ | 318,526 | $ | 289,033 | |||||||||||
| 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 | $ | 296,131 | $ | 319,587 | $ | 290,095 | |||||||||
| EQUITY | ||||||||||||||||||
| 30. | PREPETITION OWNERS' EQUITY | $ | 5,901,723 | $ | 5,901,723 | $ | 5,901,723 | |||||||||||
| 31. | POSTPETITION CUMULATIVE PROFIT OR (LOSS) | $ | 2,311,536 | $ | 2,662,019 | $ | 2,627,462 | |||||||||||
| 32. | DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) | $ | (8,389,921 | ) | $ | (8,324,791 | ) | $ | (8,253,527 | )1 | ||||||||
| 33. | TOTAL EQUITY | $ | (176,662 | ) | $ | 238,952 | $ | 275,658 | ||||||||||
| 34. | TOTAL LIABILITIES & OWNERS' EQUITY | $ | 119,470 | $ | 558,539 | $ | 565,753 | |||||||||||
| 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 | AUGUST | SEPTEMBER | OCTOBER | |||||||||||||||
| POSTPETITION LIABILITIES | ||||||||||||||||||
| 22. | US TRUSTEE FEES | $ | 6,113 | $ | 872 | $ | (1,037 | ) | ||||||||||
| 22. | TOTAL OTHER POSTPETITION LIABILITIES | $ | 6,113 | $ | 872 | $ | (1,037 | ) | ||||||||||
| 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 | $ | 42,877 | $ | 88,133 | $ | 444,481 | $ | 9,266 | |||||||||
| 2. | LESS: RETURNS & DISCOUNTS | |||||||||||||||||
| 3. | NET REVENUE | $ | 42,877 | $ | 88,133 | $ | 444,481 | $ | 9,266 | |||||||||
| 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 | $ | 42,877 | $ | 88,133 | $ | 444,481 | $ | 9,266 | |||||||||
| OPERATING EXPENSES | ||||||||||||||||||
| 9. | OFFICER / INSIDER COMPENSATION | |||||||||||||||||
| 10. | SELLING & MARKETING | |||||||||||||||||
| 11. | GENERAL & ADMINISTRATIVE | $ | 375 | $ | 331 | $ | 170 | $ | 143 | |||||||||
| 12. | RENT & LEASE | |||||||||||||||||
| 13. | OTHER (ATTACH LIST) | |||||||||||||||||
| 14. | TOTAL OPERATING EXPENSES | $ | 375 | $ | 331 | $ | 170 | $ | 143 | |||||||||
| 15. | INCOME BEFORE NON-OPERATING INCOME & EXPENSE | $ | 42,502 | $ | 87,802 | $ | 444,311 | $ | 9,122 | |||||||||
| 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 | $ | 68,567 | $ | 69,121 | $ | 93,122 | $ | 42,648 | |||||||||
| 24. | U.S. TRUSTEE FEES | $ | 650 | $ | 0 | $ | 0 | $ | 0 | |||||||||
| 25. | OTHER (ATTACH LIST) | $ | 479 | $ | 554 | $ | 706 | $ | 1,032 | |||||||||
| 26. | TOTAL REORGANIZATION EXPENSES | $ | 69,696 | $ | 69,675 | $ | 93,827 | $ | 43,680 | |||||||||
| 27. | INCOME TAX | |||||||||||||||||
| 28. | NET PROFIT (LOSS) | $ | (27,193 | ) | $ | 18,127 | $ | 350,483 | $ | (34,558 | ) | |||||||
| Monthly Operating Report | |
| SUPPLEMENT TO | |
| ACCRUAL BASIS-2 |
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| INCOME STATEMENT | JULY | AUGUST | SEPTEMBER | OCTOBER | ||||||||||||||
| OTHER REORGANIZATION EXPENSES | ||||||||||||||||||
| 25. | Relativity Hosting | $ | 270 | $ | 285 | $ | 285 | $ | 285 | |||||||||
| 25. | Transciption Services | $ | 99 | $ | 347 | |||||||||||||
| 25. | Privilege Log Export | |||||||||||||||||
| 25. | Trustee Expense Reimbursement | $ | 208 | $ | 268 | $ | 321 | $ | 400 | |||||||||
| 25 | TOTAL OTHER REORGANIZATION EXPENSES | $ | 479 | $ | 554 | $ | 706 | $ | 1,032 | |||||||||
| Monthly Operating Report | |
| ACCRUAL BASIS-3 |
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| CASH RECEIPTS AND DISBURSEMENTS | JULY | AUGUST | SEPTEMBER | QUARTER ENDED SEPTEMBER 30, 2016 | OCTOBER | |||||||||||||||||
| 1. | CASH - BEGINNING OF MONTH | $ | 1,391,470 | $ | 1,433,706 | $ | 119,470 | $ | 558,539 | |||||||||||||
| RECEIPTS FROM OPERATIONS | ||||||||||||||||||||||
| 2. | CASH SALES | $ | 42,877 | $ | 88,133 | $ | 444,481 | $ | 575,490 | $ | 9,266 | |||||||||||
| COLLECTION OF ACCOUNTS RECEIVABLE | ||||||||||||||||||||||
| 3. | PREPETITION | $ | 0 | |||||||||||||||||||
| 4. | POSTPETITION | $ | 0 | |||||||||||||||||||
| 5. | TOTAL OPERATING RECEIPTS | $ | 42,877 | $ | 88,133 | $ | 444,481 | $ | 575,490 | $ | 9,266 | |||||||||||
| NON-OPERATING RECEIPTS | ||||||||||||||||||||||
| 6. | LOANS & ADVANCES (ATTACH LIST) | $ | 0 | |||||||||||||||||||
| 7. | SALE OF ASSETS | $ | 0 | |||||||||||||||||||
| 8. | OTHER (ATTACH LIST) | $ | 57,971 | $ | 56,055 | $ | 35,835 | $ | 149,861 | $ | 29,834 | |||||||||||
| 9. | TOTAL NON-OPERATING RECEIPTS | $ | 57,971 | $ | 56,055 | $ | 35,835 | $ | 149,861 | $ | 29,834 | |||||||||||
| 10. | TOTAL RECEIPTS | $ | 100,849 | $ | 144,187 | $ | 480,316 | $ | 725,352 | $ | 39,100 | |||||||||||
| 11. | TOTAL CASH AVAILABLE | $ | 1,492,319 | $ | 1,577,894 | $ | 599,786 | $ | 597,639 | |||||||||||||
| 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 | $ | 0 | |||||||||||||||||||
| 18. | INVENTORY PURCHASES | $ | 0 | |||||||||||||||||||
| 19. | VEHICLE EXPENSES | $ | 0 | |||||||||||||||||||
| 20. | TRAVEL | $ | 0 | |||||||||||||||||||
| 21. | ENTERTAINMENT | $ | 0 | |||||||||||||||||||
| 22. | REPAIRS & MAINTENANCE | $ | 0 | |||||||||||||||||||
| 23. | SUPPLIES | $ | 0 | |||||||||||||||||||
| 24. | ADVERTISING | $ | 0 | |||||||||||||||||||
| 25. | OTHER (ATTACH LIST) | $ | 58,287 | $ | 1,458,424 | $ | 36,005 | $ | 1,552,716 | $ | 29,977 | |||||||||||
| 26. | TOTAL OPERATING DISBURSEMENTS | $ | 58,287 | $ | 1,458,424 | $ | 36,005 | $ | 1,552,716 | $ | 29,977 | |||||||||||
| REORGANIZATION EXPENSES | ||||||||||||||||||||||
| 27. | PROFESSIONAL FEES | $ | 0 | |||||||||||||||||||
| 28. | U.S. TRUSTEE FEES | $ | 325 | $ | 5,241 | $ | 5,566 | $ | 1,909 | |||||||||||||
| 29. | OTHER (ATTACH LIST) | $ | 0 | |||||||||||||||||||
| 30. | TOTAL REORGANIZATION EXPENSES | $ | 325 | $ | 0 | $ | 5,241 | $ | 5,566 | $ | 1,909 | |||||||||||
| 31. | TOTAL DISBURSEMENTS | $ | 58,612 | $ | 1,458,424 | $ | 41,247 | $ | 1,558,283 | $ | 31,886 | 1 | ||||||||||
| 32. | NET CASH FLOW | $ | 42,237 | $ | (1,314,237 | ) | $ | 439,069 | $ | (832,931 | ) | $ | 7,214 | |||||||||
| 33. | CASH - END OF MONTH | $ | 1,433,706 | $ | 119,470 | $ | 558,539 | $ | 565,753 | |||||||||||||
| 1 | Total Disbursements includes the following amounts that are NOT disbursements. |
Position holder receipts being forwarded to escrow accounts:
| July 2016 | $ | 57,912.12 | ||
| August 2016 | $ | 58,147.12 | ||
| September 2016 | $ | 35,835.30 | ||
| October 2016 | $ | 29,834.05 |
Cash transferred to LPI checking account:
| August 2016 | $ | 1,400,000.00 |
| Monthly Operating Report | |
| SUPPLEMENT TO | |
| ACCRUAL BASIS-3 |
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| CASH RECEIPTS AND DISBURSEMENTS | JULY | AUGUST | SEPTEMBER | QUARTER ENDED SEPTEMBER 30, 2016 | OCTOBER | |||||||||||||||||
| NON-OPERATING RECEIPTS (OTHER) | ||||||||||||||||||||||
| 8. | FLOW THRU PREMIUMS | $ | 57,971 | $ | 56,055 | $ | 35,835 | $ | 149,861 | $ | 29,834 | |||||||||||
| 8. | PREMIUMS RETURNED | $ | 0 | |||||||||||||||||||
| 8. | RECEIPTS TO BE FORWARDED TO LPI | $ | 0 | |||||||||||||||||||
| 8. | TOTAL NON-OPERATING RECEIPTS | $ | 57,971 | $ | 56,055 | $ | 35,835 | $ | 149,861 | $ | 29,834 | |||||||||||
| OPERATING DISBURSEMENTS | ||||||||||||||||||||||
| 25. | BANK FEES | $ | 375 | $ | 277 | $ | 170 | $ | 822 | $ | 143 | |||||||||||
| 25. | OVERPAYMENTS REFUNDED | $ | 0 | |||||||||||||||||||
| 25. | FLOW THRU PREMIUMS | $ | 57,912 | $ | 56,055 | $ | 35,835 | $ | 149,802 | $ | 29,834 | |||||||||||
| 25. | RETURN FUNDS TO MATURITIES ACCOUNTS | $ | 2,093 | $ | 2,093 | |||||||||||||||||
| 25. | PREMIUMS RETURNED | $ | 0 | |||||||||||||||||||
| 25. | TRANSFER TO LPI BANK ACCOUNT | $ | 1,400,000 | $ | 1,400,000 | |||||||||||||||||
| 25. | TOTAL OPERATING DISBURSEMENTS (OTHER) | $ | 58,287 | $ | 1,458,424 | $ | 36,005 | $ | 1,552,716 | $ | 29,977 | |||||||||||
| 1 | This was previously reported as disbursement of Flow Thru Premiums and has been reclassified to funds returned to maturities accounts. |
| Monthly Operating Report | |
| ACCRUAL BASIS-4 |
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| ACCOUNTS RECEIVABLE AGING | SCHEDULE AMOUNT | AUGUST | SEPTEMBER | OCTOBER | ||||||||||||||
| 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 | 1 | |||||||||
| AGING OF POSTPETITION TAXES AND PAYABLES | MONTH: | October 2016 |
| 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 2016 |
| 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 | |||||||||
| 1 | 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 | |
| ACCRUAL BASIS-5 |
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH: | October 2016 |
| BANK RECONCILIATIONS | ||||||||||||||||||
| Account #1 | Account #2 | Account #3 | ||||||||||||||||
| A. BANK: | Bank of Texas | |||||||||||||||||
| B. ACCOUNT NUMBER: | 4069 | TOTAL | ||||||||||||||||
| C. PURPOSE (TYPE): | Checking | |||||||||||||||||
| 1. | BALANCE PER BANK STATEMENT | $ | 567,916 | $ | 567,916 | |||||||||||||
| 2. | ADD: TOTAL DEPOSITS NOT CREDITED | $ | 0 | |||||||||||||||
| 3. | SUBTRACT: OUTSTANDING CHECKS | $ | 2,164 | $ | 2,164 | |||||||||||||
| 4. | OTHER RECONCILING ITEMS | $ | 0 | |||||||||||||||
| 5. | MONTH END BALANCE PER BOOKS | $ | 565,753 | $ | 0 | $ | 0 | $ | 565,753 | |||||||||
| 6. | NUMBER OF LAST CHECK WRITTEN | 1134 | ||||||||||||||||
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 | $ | 565,753 |
| Monthly Operating Report | |
| ACCRUAL BASIS-6 |
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH: | October 2016 |
PAYMENTS TO INSIDERS AND PROFESSIONALS
| INSIDERS | ||||||||||||
| TYPE OF | AMOUNT | TOTAL PAID | ||||||||||
| NAME | PAYMENT | PAID | TO DATE | |||||||||
| 1. | Advance Trust & Life Escrow Services | Premium Remittance | $ | 7,501 | $ | 228,152 | ||||||
| 2. | Purchase Escrow Services, LLC | Premium Remittance | $ | 0 | $ | 3,803 | ||||||
| 3. | ||||||||||||
| 4. | ||||||||||||
| 5. | ||||||||||||
| 6. | TOTAL PAYMENTS TO INSIDERS | $ | 7,501 | $ | 231,955 | |||||||
| PROFESSIONALS | 1 | |||||||||||||||||||
| DATE OF COURT | TOTAL | |||||||||||||||||||
| ORDER AUTHORIZING | AMOUNT | AMOUNT | TOTAL PAID | INCURRED | ||||||||||||||||
| NAME | PAYMENT | APPROVED | PAID | TO DATE | & UNPAID | |||||||||||||||
| 1. | Asset Servicing Group | 08/19/16 | $ | 1,784,796 | $ | 46,041 | $ | 1,456,631 | $ | 545,239 | ||||||||||
| 2. | Bridgepoint Consulting | 08/19/16 | $ | 1,887,042 | $ | 47,979 | $ | 1,429,823 | $ | 734,744 | ||||||||||
| 3. | Epiq Bankruptcy Solutions | 05/22/15 | $ | 5,949,060 | $ | 4,495,978 | $ | 1,478,082 | ||||||||||||
| 4. | Forshey & Prostok, LLP | 04/28/15 | $ | 154,409 | $ | 154,409 | $ | 0 | ||||||||||||
| 5. | Kevin Buchanan & Associates | 07/01/15 | $ | 140,235 | $ | 140,235 | $ | 0 | ||||||||||||
| 6. | Kim Hinkle, Attorney at Law | 08/19/16 | $ | 433,729 | $ | 12,585 | $ | 356,451 | $ | 115,363 | ||||||||||
| 7. | MMS Advisors | 03/25/16 | $ | 246,992 | $ | 246,992 | $ | 0 | ||||||||||||
| 8. | Munsch, Hardt, Kopf & Harr, P.C. | 08/25/16 | $ | 3,545,750 | $ | 77,293 | $ | 2,834,336 | $ | 2,009,852 | ||||||||||
| 9. | Phillips Murrah | 08/01/16 | $ | 450,476 | $ | 4,973 | $ | 313,069 | $ | 186,115 | ||||||||||
| 10. | Pronske Goolsby & Kathman, P.C. | 05/05/15 | $ | 128,618 | $ | 128,618 | $ | 0 | ||||||||||||
| 11. | Thompson & Knight, LLP | 08/19/16 | $ | 18,343,117 | $ | 324,218 | $ | 14,602,350 | $ | 9,112,376 | ||||||||||
| 12. | Tom Moran, US Trustee | 12/18/15 | $ | 11,850 | $ | 11,850 | $ | 1,316,996 | 2 | |||||||||||
| 13. | Smith, Jackson, Boyer & Bovard, PLLC | 08/19/16 | $ | 73,749 | $ | 2,011 | $ | 67,650 | $ | 16,825 | ||||||||||
| 14. | Predictive Resources | 08/19/16 | $ | 595,464 | $ | 38,489 | $ | 486,938 | $ | 179,226 | ||||||||||
| 15. | D3G Capital Management LLC/Lewis & Ellis Inc | 05/24/16 | $ | 216,725 | $ | 214,925 | $ | 3,000 | ||||||||||||
| 16. | Barbara Pope | 12/15/15 | $ | 42,477 | $ | 42,477 | $0 | 3 | ||||||||||||
| 17. | Sutherland Asbill & Brennan LLP | 08/19/16 | $ | 46,271 | $ | 17,477 | $ | 39,797 | ||||||||||||
| 18. | Roetzel & Andress LPA | 08/30/16 | $ | 8,969 | ||||||||||||||||
| 19. | TOTAL PAYMENTS TO PROFESSIONALS | $ | 553,590 | $ | 27,000,209 | $ | 15,746,581 | 1 | ||||||||||||
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 | |||||||
| 1 | Professional fee and expense allocations are estimated by each firm across the 3 debtors, and are booked accordingly in the books and records. Payments are made based on cash availability and intercompany accounting. The total of all aggregate unallocated fees and expenses for the 3 debtors are reflected in the schedule above. |
| 2 | Total Paid To Date excludes out-of-pocket expense reimbursements on behalf of subsidiary debtors. |
| 3 | Amounts shown do not include employee/contractor payments. |
| Monthly Operating Report | |
| ACCRUAL BASIS-7 |
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH: | October 2016 |
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 | |||