Attached files
| file | filename |
|---|---|
| EX-99.1 - EX-99.1 - Unilife Corp | d482901dex991.htm |
| 8-K - FORM 8-K - Unilife Corp | d482901d8k.htm |
Exhibit 99.2
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
| In re Unilife Corporation, et al. [1] | Case No. 17-10805 | |||
| Reporting Period: Sept. 1 to Sept. 30, 2017 |
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 | Affidavit/Supplement | |||||||||||||||
| REQUIRED DOCUMENTS |
Form No. | Attached | Attached | Footnote | ||||||||||||
| Schedule of Cash Receipts and Disbursements |
MOR-1 | X | ||||||||||||||
| Bank Reconciliation (or copies of debtor’s bank reconciliations) |
MOR-1a | X | ||||||||||||||
| Schedule of Professional Fees Paid |
MOR-1b | X | ||||||||||||||
| Copies of bank statements |
See Declaration. | |||||||||||||||
| Cash disbursements journals |
X | |||||||||||||||
| Statement of Operations |
MOR-2 | See MOR-1. | [2] | |||||||||||||
| Balance Sheet |
MOR-3 | X | ||||||||||||||
| Status of Postpetition Taxes |
MOR-4 | X | ||||||||||||||
| Copies of IRS Form 6123 or payment receipt |
See Declaration. | [3] | ||||||||||||||
| Copies of tax returns filed during reporting period |
See Declaration. | [3] | ||||||||||||||
| Summary of Unpaid Postpetition Debts |
MOR-4 | X | ||||||||||||||
| Listing of aged accounts payable |
MOR-4 | X | ||||||||||||||
| Accounts Receivable Reconciliation and Aging |
MOR-5 | X | ||||||||||||||
| Debtor Questionnaire |
MOR-5 | X | ||||||||||||||
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.
|
|
| |||
| Signature of Debtor |
Date | |||
|
|
| |||
| Signature of Joint Debtor |
||||
| /s/ Dennis Pyers |
October 25, 2017 | |||
| Signature of Authorized Individual* | Date | |||
| Dennis Pyers |
Interim CFO and CAO | |||
| 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. |
| [1] | The debtors’ names are abbreviated in this report as follows: |
Unilife Corporation—UC
Unilife Medical Solutions, Inc.—UMS
Unilife Cross Farm LLC—UCF
| [2] | Post-petition, the Debtor began keeping its books on a cash basis. Accordingly, the Statement of Operations (MOR-2) and the Schedule of Cash Receipts and Disbursements (MOR-1) present the same information. |
| [3] | No tax returns, including IRS Form 6123, were filed during the period. |
1
| In re Unilife Corporation, et al. [1] | Case No. 17-10805 | |||
| Reporting Period: Sept. 1 to Sept. 30, 2017 |
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 |
||||||||||||||||||||||||||||||||||||||||||||||
| UC | UMS | UCF | CONSOLIDATED | CONSOLIDATED | ||||||||||||||||||||||||||||||||||||||||||||
| OPERATING | OTHER | OPERATING | PAYROLL | UTILITY | OTHER | OPERATING | OTHER | ACTUAL | PROJECTED [1] | ACTUAL | PROJECTED [1] | |||||||||||||||||||||||||||||||||||||
| CASH BEGINNING OF MONTH |
$ | 76,805 | $ | 136,162 | $ | 686,985 | $ | 0 | $ | 39,846 | $ | 35,278 | $ | — | $ | — | 975,077 | $ | 24,920 | $ | 1,918,421 | $ | 1,746,545 | |||||||||||||||||||||||||
| RECEIPTS |
||||||||||||||||||||||||||||||||||||||||||||||||
| CASH SALES |
— | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
| ACCOUNTS RECEIVABLE |
— | — | 20,000 | — | — | — | — | — | 20,000 | — | 644,915 | 515,060 | ||||||||||||||||||||||||||||||||||||
| LOANS AND ADVANCES |
— | — | — | — | — | — | — | — | — | 7,500,000 | 7,500,000 | |||||||||||||||||||||||||||||||||||||
| SALE OF ASSETS |
— | — | — | — | — | — | — | — | — | — | 500,000 | — | ||||||||||||||||||||||||||||||||||||
| OTHER (ATTACH LIST) |
59,691 | 184 | 29,273 | — | 0 | 8 | — | — | 89,156 | — | 307,139 | 136,779 | ||||||||||||||||||||||||||||||||||||
| TRANSFERS (FROM DIP ACCTS) |
129,454 | — | 7,215 | — | — | — | — | — | 136,669 | — | 8,225,915 | — | ||||||||||||||||||||||||||||||||||||
| TOTAL RECEIPTS |
189,145 | 184 | 56,488 | — | 0 | 8 | — | — | 245,825 | — | 17,177,969 | 8,151,839 | ||||||||||||||||||||||||||||||||||||
| DISBURSEMENTS |
||||||||||||||||||||||||||||||||||||||||||||||||
| NET PAYROLL & PAYROLL TAXES |
— | — | 46,739 | — | — | — | — | — | 46,739 | — | 5,752,570 | 5,569,380 | ||||||||||||||||||||||||||||||||||||
| SALES, USE, & OTHER TAXES |
— | — | — | — | — | — | — | — | — | — | 2,000 | — | ||||||||||||||||||||||||||||||||||||
| INVENTORY PURCHASES |
— | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
| SECURED/ RENTAL/ LEASES |
— | — | — | — | — | — | — | — | — | — | 401,300 | 370,193 | ||||||||||||||||||||||||||||||||||||
| INSURANCE |
— | — | — | — | — | — | — | — | — | — | 75,343 | 57,075 | ||||||||||||||||||||||||||||||||||||
| ADMINISTRATIVE |
— | — | 49,673 | — | — | — | — | — | 49,673 | — | 453,125 | 722,969 | ||||||||||||||||||||||||||||||||||||
| SELLING |
— | — | 1,250 | — | — | — | — | — | 1,250 | — | 65,209 | — | ||||||||||||||||||||||||||||||||||||
| OTHER (ATTACH LIST) |
3,603 | 6,892 | 8,165 | — | — | 28,072 | — | — | 46,732 | — | 748,724 | 728,806 | ||||||||||||||||||||||||||||||||||||
| OWNER DRAW * |
— | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
| TRANSFERS (TO DIP ACCTS) |
— | 129,454 | — | — | 7,215 | — | — | 136,668 | — | 8,225,915 | — | |||||||||||||||||||||||||||||||||||||
| PROFESSIONAL FEES |
— | — | — | — | — | — | — | — | — | — | 2,428,791 | 2,412,041 | ||||||||||||||||||||||||||||||||||||
| U.S. TRUSTEE QUARTERLY FEES |
— | — | — | — | — | — | — | — | — | — | 3,575 | 13,000 | ||||||||||||||||||||||||||||||||||||
| COURT COSTS |
— | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
| TOTAL DISBURSEMENTS |
3,603 | 136,346 | 105,827 | — | — | 35,286 | — | — | 281,062 | — | 18,156,551 | 9,873,465 | ||||||||||||||||||||||||||||||||||||
| NET CASH FLOW |
185,541 | (136,162 | ) | (49,339 | ) | — | 0 | (35,278 | ) | — | — | (35,238 | ) | — | (978,582 | ) | (1,721,625 | ) | ||||||||||||||||||||||||||||||
| (RECEIPTS LESS DISBURSEMENTS) |
||||||||||||||||||||||||||||||||||||||||||||||||
| CASH—END OF MONTH |
$ | 262,346 | $ | — | $ | 637,646 | $ | 0 | $ | 39,847 | $ | — | $ | — | $ | — | $ | 939,839 | $ | 24,920 | $ | 939,839 | $ | 24,920 | ||||||||||||||||||||||||
| * | COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE |
| [1] | UPDATED CURRENT MONTH AND CUMMULATIVE PROJECTIONS PER SECOND AND THIRD AMENDED DIP BUDGETS (DOCKET NOS. 220 & 239) |
THE FOLLOWING SECTION MUST BE COMPLETED
| DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN) |
||||
| TOTAL DISBURSEMENTS |
$ | 281,062 | ||
| LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS |
$ | 136,668 | ||
| PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts) |
$ | — | ||
| TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES |
$ | 144,394 | ||
2
| In re Unilife Corporation, et al. [1] | Case No. 17-10805 | |||
| Reporting Period: Sept. 1 to Sept. 30, 2017 |
BANK RECONCILIATIONS
Continuation Sheet for MOR-1
A bank reconciliation must be included for each bank account. The debtor’s bank reconciliation may be substituted for this page.
| UMS Petty Cash (Operating) |
UMS Operating |
UMS Operating |
UMS Operating |
UMS Operating |
UMS Other - Savings |
UMS Total Operating |
UMS Utilities |
UMS Payroll |
UMS Other - PNC CD |
UMS Restricted Bond |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| # | n/a | # | 0928 | # | 0570 | # | 3760 | # | 4310 | # | 1600 | # | 1951 | # | 6102 | # | 3480 | # | n/a | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BALANCE PER BOOKS |
31 | 15,561 | 601,170 | 1 | 20,883 | — | 637,646 | 39,847 | — | — | 300,003 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BANK BALANCE |
31 | 18,861 | 601,170 | 1 | 20,883 | — | 640,946 | 39,847 | — | — | 300,003 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (+) DEPOSITS IN TRANSIT (ATTACH LIST) |
— | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (-) OUTSTANDING CHECKS (ATTACH LIST) |
— | (3,300) | — | — | — | — | (3,300) | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| OTHER (ATTACH EXPLANATION) |
— | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ADJUSTED BANK BALANCE * |
$ | 31 | $ | 15,561 | $ | 601,170 | $ | 1 | $ | 20,883 | $ | — | $ | 637,646 | $ | 39,847 | $ | — | $ | — | $ | 300,003 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
* Adjusted bank balance must equal balance per books |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| DEPOSITS IN |
Date | Amount | Date | Amount | Date | Amount | Date | Amount | Date | Amount | Date | Amount | Date | Amount | Date | Amount | Date | Amount | Date | Amount | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| CHECKS |
Ck. # | Amount | Ck. # | Amount | Ck. # | Amount | Ck. # | Amount | Ck. # | Amount | Ck. # | Amount | Ch. # | Amount | Ch. # | Amount | Ck. # | Amount | Ck. # | Amount | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 35047 | 2,400 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 35055 | 900 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| OTHER |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| OTHER RECEIPTS |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| COBRA payments |
$ | — | $ | 8,837 | $ | — | $ | — | $ | — | $ | — | $ | 8,837 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest |
— | 148 | 105 | — | — | — | 253 | — | — | 8 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| FNB Settlement Payment |
— | 20,000 | — | — | — | — | 20,000 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Refunds / Returned Checks |
— | 183 | — | — | — | — | 183 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reimbursements from former employees |
— | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total |
$ | — | $ | 29,168 | $ | 105 | $ | — | $ | — | $ | — | $ | 29,273 | $ | — | $ | — | $ | 8 | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| OTHER DISBURSEMENTS: |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Bank Fees |
$ | — | $ | 264.77 | $ | — | $ | — | $ | 0 | $ | — | $ | 265 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Postage |
7 | — | — | — | — | — | 7 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fidelity Fees |
— | 2,375 | — | — | — | — | 2,375 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PNC Card Payments and Fees |
— | — | — | — | — | — | — | — | — | 28,072 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ADP Fees |
— | 5,519 | — | — | — | — | 5,519 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total |
$ | 7 | $ | 8,158 | $ | — | $ | — | $ | — | $ | — | $ | 8,165 | $ | — | $ | — | $ | 28,072 | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3
| In re Unilife Corporation, et al. [1] | Case No. 17-10805 | |||
| Reporting Period: Sept. 1 to Sept. 30, 2017 |
BANK RECONCILIATIONS
Continuation Sheet for MOR-1
A bank reconciliation must be included for each bank account. The debtor’s bank reconciliation may be substituted for this page.
| UC | UC | UC | UC | UC | UCF | UCF | ||||||||||||||||||||||||||||||||||||||||||||||
| Operating | Operating | Operating | Total Operating | Other - AMEX CD | Operating | Restricted Escrow | ||||||||||||||||||||||||||||||||||||||||||||||
| # | 2022 | # | 6509 | # | 1693 | # | 1859-4 | # | 1933 | # | 0060 | |||||||||||||||||||||||||||||||||||||||||
| BALANCE PER BOOKS |
$ | 227,370 | $ | 34,976 | $ | — | 262,346 | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||
| BANK BALANCE |
227,370 | 34,976 | — | 262,346 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
| (+) DEPOSITS IN TRANSIT (ATTACH LIST) |
— | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
| (-) OUTSTANDING CHECKS (ATTACH LIST) |
— | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
| OTHER (ATTACH EXPLANATION) |
— | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
| ADJUSTED BANK BALANCE * |
$ | 227,370 | $ | 34,976 | $ | — | $ | 262,346 | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||
|
* Adjusted bank balance must equal balance per books |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
| DEPOSITS IN |
Date | Amount | Date | Amount | Date | Amount | Date | Amount | Date | Amount | Date | Amount | ||||||||||||||||||||||||||||||||||||||||
| CHECKS |
Ck. # | Amount | Ch. # | Amount | Ck. # | Amount | Ck. # | Amount | Ck. # | Amount | Ck. # | Amount | ||||||||||||||||||||||||||||||||||||||||
| OTHER |
||||||||||||||||||||||||||||||||||||||||||||||||||||
| OTHER RECEIPTS |
||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest |
$ | — | $ | — | $ | — | $ | — | $ | 184 | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||
| Insurance refund |
59,691 | — | — | 59,691 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
| Refund from ADP |
— | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
| Total |
$ | 59,691 | $ | — | $ | — | $ | 59,691 | $ | 184 | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||
| OTHER DISBURSEMENTS |
||||||||||||||||||||||||||||||||||||||||||||||||||||
| Bank Fees |
$ | 101 | $ | — | $ | — | $ | 101 | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||
| AMEX Card Payments and Fees |
— | — | — | — | 6,892 | — | — | |||||||||||||||||||||||||||||||||||||||||||||
| Patent Filing Fees |
3,502 | — | — | 3,502 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
| Total |
$ | 3,603 | $ | — | $ | — | $ | 3,603 | $ | 6,892 | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||
4
| In re Unilife Corporation, et al. [1] | Case No. 17-10805 | |||
| Reporting Period: Sept. 1 to Sept. 30, 2017 |
SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID
This schedule is to include all retained professional payments from case inception to current month
| Check | Amount Paid | Year-To-Date | ||||||||||||||||||||||
| Payee |
Period Covered | Payor | Number | Date | Fees & Expenses | Fees & Expenses | ||||||||||||||||||
| Professional Fee Escrow Account [1] |
$ | 1,735,041.00 | ||||||||||||||||||||||
| SSG Capital Advisors |
$ | 693,750.00 | ||||||||||||||||||||||
| Total |
$ | 2,428,791.00 | ||||||||||||||||||||||
| [1] | Funds wired to a professional fee escrow account maintained by Cozen O’Connor. |
5
| In re Unilife Corporation, et al. [1] | Case No. 17-10805 | |||
| Reporting Period: Sept. 1 to Sept. 30, 2017 |
CASH DISBURSEMENTS JOURNAL
| Date |
Description |
Amount | Check# |
Payee | ||||||
| I. Case No. 17-10805—Unilife Corporation, et al. |
||||||||||
| 09/18/17 | Patent filing fees |
$ | 3,502.22 | 3011 | Wiley Rein LLP | |||||
| 09/29/17 | Bank fees |
101.11 | Bank | FNB | ||||||
|
|
|
|||||||||
| 3,603.33 | ||||||||||
| PLUS: Estate Disbursements made by Outside Sources (i.e. from escrow accounts) |
||||||||||
| 09/27/17 | Credit card payments and fees |
6,892.36 | Bank | American Express | ||||||
|
|
|
|||||||||
| Total—Case No. 17-10805—Unilife Corporation, et al. |
$ | 10,495.69 | ||||||||
|
|
|
|||||||||
| II. Case No. 17-10806—Unilife Medical Solutions, Inc. |
||||||||||
| 09/01/17 | Materials for customer programs |
1,250.32 | 35030 | Azzur Labs | ||||||
| 09/07/17 | HRA funding for week ended 9/8 |
670.60 | ACH | Highmark | ||||||
| 09/07/17 | Electrical service for York |
24.24 | 35031 | MET ED | ||||||
| 09/07/17 | Electrical service for York |
40.61 | 35032 | MET ED | ||||||
| 09/07/17 | Telephone and internet |
801.68 | 35033 | Verizon | ||||||
| 09/07/17 | Telephone and internet |
1,059.98 | 35034 | Verizon | ||||||
| 09/07/17 | IT storage |
301.51 | 35035 | Iron Mountain | ||||||
| 09/07/17 | Data room service |
4,223.87 | 35036 | Merrill Communications | ||||||
| 09/07/17 | Document destruction service |
420.00 | 35037 | Shred-It | ||||||
| 09/07/17 | Document destruction service |
426.52 | 35038 | Shred-It | ||||||
| 09/07/17 | Office security system |
867.20 | 35039 | Vector Security | ||||||
| 09/12/17 | Reimbirsement for return flight to AUS per immigration law |
1,268.02 | 35040 | Grace Chung | ||||||
| 09/14/17 | HRA funding for week ended 9/15 |
5,195.59 | ACH | Highmark | ||||||
| 09/13/17 | Payroll funding for 9/15 |
27,465.80 | Wire | ADP | ||||||
| 09/14/17 | Payroll Taxes withheld |
13,193.98 | ACH | ADP | ||||||
| 09/14/17 | Postage |
78.65 | 35041 | USPS | ||||||
| 09/14/17 | Building maintenance |
6,000.80 | 35042 | Ingersoll Rand | ||||||
| 09/14/17 | Water service |
259.09 | 35043 | York Water | ||||||
6
| In re Unilife Corporation, et al. [1] | Case No. 17-10805 | |||
| Reporting Period: Sept. 1 to Sept. 30, 2017 |
CASH DISBURSEMENTS JOURNAL (CONTINUED)
| Date |
Description |
Amount | Check # |
Payee | ||||||
| 09/14/17 | Telephone and internet | 16,648.62 | 35044 | Comcast | ||||||
| 09/14/17 | IT storage | 300.86 | 35045 | Iron Mountain | ||||||
| 09/18/17 | HVAC maintenance for Data room | 650.00 | 35046 | DVL | ||||||
| 09/18/17 | Material disposal | 2,400.00 | 35047 | Shred-It | ||||||
| 09/18/17 | Water service | 2,794.51 | 35048 | York Water | ||||||
| 09/18/17 | Natural gas service for York | 1,982.93 | 35049 | Columbia Gas of PA | ||||||
| 09/18/17 | Telephone and internet | 538.38 | 35050 | Verizon | ||||||
| 09/18/17 | 401(k) Plan administration | 2,375.00 | 35051 | Fidelity | ||||||
| 09/20/17 | HRA funding for week ended 9/22 | 212.60 | ACH | Highmark | ||||||
| 09/20/17 | Electrical service for York | 3,473.32 | ACH | MET ED | ||||||
| 09/25/17 | Water service | 885.75 | 35052 | York Water | ||||||
| 09/25/17 | Natural gas for York facility | 2,833.22 | 35053 | Direct Energy | ||||||
| 09/25/17 | Monthly mobile phone bill | 492.99 | 35054 | AT&T Mobility | ||||||
| 09/28/17 | Material disposal | 900.00 | 35055 | Shred-It | ||||||
| 09/29/17 | Monthly processing fee | 5,518.66 | ACH | ADP | ||||||
| 09/29/17 | Bank fees | 264.77 | Bank | FNB | ||||||
| 08/31/17 | Postage | 6.65 | Cash | USPS | ||||||
|
|
|
|||||||||
| 105,826.72 | ||||||||||
| PLUS: Estate Disbursements made by Outside Sources (i.e. from escrow accounts) |
||||||||||
| 09/01/17 | Credit card payments and fees | 28,071.66 | Bank | PNC | ||||||
|
|
|
|||||||||
| Total—Case No. 17-10806—Unilife Medical Solutions, Inc. |
$ | 133,898.38 | ||||||||
|
|
|
|||||||||
7
| In re Unilife Corporation, et al. [1] | Case No. 17-10805 | |||
| Reporting Period: Sept. 1 to Sept. 30, 2017 |
CASH DISBURSEMENTS JOURNAL (CONTINUED)
| Date |
Description |
Amount | Check# |
Payee | ||||||
| III. Case No. 17-10807—Unilife Cross Farm LLC |
||||||||||
| None. | $ | — | ||||||||
|
|
|
|||||||||
| — | ||||||||||
| PLUS: Estate Disbursements made by Outside Sources (i.e. from escrow accounts) |
||||||||||
| 07/20/17 | 250 Cross Farm Lane Mortgage Payment | — | ||||||||
|
|
|
|||||||||
| Total—Case No. 17-10807—Unilife Cross Farm LLC |
— | |||||||||
|
|
|
|||||||||
| IV. Total Disbursements |
$ | 144,394.07 | ||||||||
|
|
|
|||||||||
8
| In re Unilife Corporation, et al. [1] | Case No. 17-10805 | |||
| Reporting Period: Sept. 1 to Sept. 30, 2017 |
BALANCE SHEET (MOR-3)
| $ in 000s | ||||||||||||||||||||||||||||||||||||||||
| UC | UMS | UCF | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||
| Period | Petition | Period | Petition | Period | Petition | Period | Petition | Period | Petition | |||||||||||||||||||||||||||||||
| ASSETS | ||||||||||||||||||||||||||||||||||||||||
| CURRENT ASSETS | ||||||||||||||||||||||||||||||||||||||||
| Unrestricted Cash and Equivalents |
$ | 262 | $ | 140 | $ | 677 | $ | 1,778 | $ | — | $ | 0 | $ | — | $ | — | $ | 940 | $ | 1,918 | ||||||||||||||||||||
| Restricted Cash and Cash Equivalents (see continuation sheet) |
— | — | 300 | 300 | — | 2,120 | — | — | 300 | 2,420 | ||||||||||||||||||||||||||||||
| Accounts Receivable (Net) |
— | — | — | 1,109 | — | — | — | — | — | 1,109 | ||||||||||||||||||||||||||||||
| Notes Receivable |
— | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
| Inventories |
— | — | — | 95 | — | — | — | — | — | 95 | ||||||||||||||||||||||||||||||
| Prepaid Expenses |
— | 396 | — | 825 | — | 78 | — | — | — | 1,299 | ||||||||||||||||||||||||||||||
| Professional Retainers |
— | 398 | — | — | — | — | — | — | — | 398 | ||||||||||||||||||||||||||||||
| Other Current Assets (attach schedule) |
— | — | — | 251 | — | — | — | — | 251 | |||||||||||||||||||||||||||||||
| TOTAL CURRENT ASSETS |
262 | 934 | 977 | 4,358 | — | 2,198 | — | — | 1,240 | 7,489 | ||||||||||||||||||||||||||||||
| PROPERTY AND EQUIPMENT |
||||||||||||||||||||||||||||||||||||||||
| Real Property and Improvements |
— | — | — | — | — | 47,614 | — | — | — | 47,614 | ||||||||||||||||||||||||||||||
| Machinery and Equipment |
— | — | — | 58,843 | — | — | — | — | — | 58,843 | ||||||||||||||||||||||||||||||
| Furniture, Fixtures and Office Equipment |
— | — | — | 1,347 | — | 39 | — | — | — | 1,386 | ||||||||||||||||||||||||||||||
| Leasehold Improvements |
— | — | — | 437 | — | — | — | — | — | 437 | ||||||||||||||||||||||||||||||
| Vehicles |
— | — | — | 32 | — | — | — | — | — | 32 | ||||||||||||||||||||||||||||||
| Less Accumulated Depreciation & Impairment |
— | — | — | (50,781 | ) | — | (5,037 | ) | — | — | — | (55,818 | ) | |||||||||||||||||||||||||||
| TOTAL PROPERTY & EQUIPMENT |
— | — | — | 9,879 | — | 42,615 | — | — | — | 52,494 | ||||||||||||||||||||||||||||||
| OTHER ASSETS |
||||||||||||||||||||||||||||||||||||||||
| Loans to Insiders* |
— | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
| Other Assets (attach schedule) |
— | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
| TOTAL OTHER ASSETS |
— | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| TOTAL ASSETS |
$ | 262 | $ | 934 | $ | 977 | $ | 14,237 | $ | — | $ | 44,813 | $ | — | $ | — | $ | 1,240 | $ | 59,984 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| UC |
UMS | UCF | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||
| Period | Petition | Period | Petition | Period | Petition | Period | Petition | Period | Petition | |||||||||||||||||||||||||||||||
| LIABILITIES AND OWNER EQUITY | ||||||||||||||||||||||||||||||||||||||||
| LIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition) |
||||||||||||||||||||||||||||||||||||||||
| Accounts Payable |
3 | — | 15 | — | — | — | — | — | 19 | — | ||||||||||||||||||||||||||||||
| Taxes Payable (refer to FORM MOR-4) |
— | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
| Wages Payable |
— | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
| Notes Payable (Intercompany) |
(3,770 | ) | — | 3,770 | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||
| Rent / Leases—Building/Equipment |
— | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
| Secured Debt / Adequate Protection Payments |
7,117 | — | — | — | — | — | — | — | 7,117 | — | ||||||||||||||||||||||||||||||
| Professional Fees |
— | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
| Amounts Due to Insiders* |
— | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
| Other Postpetition Liabilities (attach schedule) |
— | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
| TOTAL POSTPETITION LIABILITIES |
3,350 | — | 3,785 | — | — | — | — | — | 7,136 | — | ||||||||||||||||||||||||||||||
| LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition) |
||||||||||||||||||||||||||||||||||||||||
| Secured Debt |
— | 130,804 | — | 133,554 | — | 100,623 | — | (217,492 | ) | — | 147,489 | |||||||||||||||||||||||||||||
| Priority Debt |
— | — | 306 | 385 | 16 | 16 | — | — | 321 | 401 | ||||||||||||||||||||||||||||||
| Unsecured Debt [1],[2] |
99,711 | 5,032 | 352,366 | 262,437 | 105,014 | 43,326 | (156,367 | ) | — | 400,724 | 310,795 | |||||||||||||||||||||||||||||
| TOTAL PRE-PETITION LIABILITIES |
99,711 | 135,836 | 352,672 | 396,376 | 105,030 | 143,965 | (156,367 | ) | (217,492 | ) | 401,046 | 458,685 | ||||||||||||||||||||||||||||
| TOTAL LIABILITIES |
103,061 | 135,836 | 356,457 | 396,376 | 105,030 | 143,965 | (156,367 | ) | (217,492 | ) | 408,181 | 458,685 | ||||||||||||||||||||||||||||
| OWNER EQUITY |
||||||||||||||||||||||||||||||||||||||||
| Common Stock |
(1,264 | ) | (1,264 | ) | (11 | ) | (11 | ) | — | — | — | — | (1,275 | ) | (1,275 | ) | ||||||||||||||||||||||||
| Treasury Stock |
— | — | (819 | ) | (819 | ) | — | — | — | — | (819 | ) | (819 | ) | ||||||||||||||||||||||||||
| Additional Paid-In Capital |
278,277 | 278,277 | (29,607 | ) | (29,607 | ) | (86,772 | ) | (86,772 | ) | — | — | 161,898 | 161,898 | ||||||||||||||||||||||||||
| Accumulated Other Comprehensive Income—Pre-petition |
— | — | (128 | ) | (128 | ) | — | — | — | — | (128 | ) | (128 | ) | ||||||||||||||||||||||||||
| Retained Earnings—Pre-Petition |
(411,915 | ) | (411,915 | ) | (351,574 | ) | (351,574 | ) | (12,380 | ) | (12,380 | ) | 156,367 | 217,492 | (619,502 | ) | (558,377 | ) | ||||||||||||||||||||||
| Retained Earnings—Postpetition |
32,103 | — | 26,659 | — | (5,878 | ) | — | — | — | 52,884 | — | |||||||||||||||||||||||||||||
| Adjustments to Owner Equity (attach schedule) |
— | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
| Postpetition Contributions (Distributions) (Draws) (attach schedule) |
— | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
| NET OWNER EQUITY |
(102,799 | ) | (134,902 | ) | (355,480 | ) | (382,139 | ) | (105,030 | ) | (99,152 | ) | 156,367 | 217,492 | (406,942 | ) | (398,701 | ) | ||||||||||||||||||||||
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| TOTAL LIABILITIES AND OWNERS’ EQUITY |
$ | 262 | $ | 934 | $ | 977 | $ | 14,237 | $ | — | $ | 44,813 | $ | — | $ | — | $ | 1,240 | $ | 59,984 | ||||||||||||||||||||
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|||||||||||||||||||||
| * | “Insider” is defined in 11 U.S.C. Section 101(31). |
| [1] | Paid certain priority wage claims per Court Order. |
| [2] | Consolidated pre-petition unsecured debt includes uneliminated intercompany payable claims. As per bankruptcy schedules, net intercompany receivables booked at $0. |
| [3] | Added $253,999 in pre-petition invoices to the scheduled amount of UMS pre-petition unsecured debt. Reduced scheduled UMS pre-petition unsecured debt by $17,743.01 for post-petition amounts included in pre-petition balance for Chubb & Son. Further reduced scheduled amount of UMS pre-petition debt for severance overstated by $18,846. |
9
| In re Unilife Corporation, et al. [1] | Case No. 17-10805 | |||
| Reporting Period: Sept. 1 to Sept. 30, 2017 |
BALANCE SHEET (MOR-3) (CONTINUATION SHEET)
| BOOK VALUE AT END OF CURRENT REPORTING MONTH |
BOOK VALUE ON PETITION DATE |
|||||||||
| ASSETS | ||||||||||
| Other Current Assets |
||||||||||
| Security Deposits |
— | 250,511 | ||||||||
| Other Assets |
||||||||||
| BOOK VALUE AT END OF CURRENT REPORTING MONTH |
BOOK VALUE ON PETITION DATE |
|||||||||
| LIABILITIES AND OWNER EQUITY | ||||||||||
| Other Postpetition Liabilities |
||||||||||
| 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.
10
| In re Unilife Corporation, et al. [1] | Case No. 17-10805 | |||
| Reporting Period: Sept. 1 to Sept. 30, 2017 |
STATUS OF POSTPETITION TAXES (MOR-4)
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 Tax Liability |
Amount Withheld or Accrued |
Amount Paid |
Date Paid | Check No. or EFT |
Ending Tax Liability |
|||||||||||||||||||
| Federal |
||||||||||||||||||||||||
| Withholding |
$ | — | $ | 9,758 | $ | 9,758 | 9/13/2017 | WIRE | $ | — | ||||||||||||||
| FICA-Employee |
— | 850 | 850 | 9/13/2017 | WIRE | — | ||||||||||||||||||
| FICA-Employer |
— | 580 | 580 | 9/13/2017 | WIRE | — | ||||||||||||||||||
| Unemployment |
— | — | — | — | ||||||||||||||||||||
| Income |
— | — | — | — | ||||||||||||||||||||
|
Other: |
— | — | — | — | ||||||||||||||||||||
| Total Federal Taxes |
— | 11,188 | 11,188 | — | ||||||||||||||||||||
| State and Local |
||||||||||||||||||||||||
| Withholding |
— | 1,978 | 1,978 | 9/13/2017 | WIRE | — | ||||||||||||||||||
| Sales |
— | — | — | — | ||||||||||||||||||||
| Excise |
— | — | — | — | ||||||||||||||||||||
| Unemployment |
— | 28 | 28 | 9/13/2017 | WIRE | — | ||||||||||||||||||
| Real Property |
— | — | — | — | ||||||||||||||||||||
| Personal Property |
— | — | — | — | ||||||||||||||||||||
| Other: State Disability Insurance |
— | — | — | — | ||||||||||||||||||||
| Total State and Local |
— | 2,006 | 2,006 | — | ||||||||||||||||||||
| Total Taxes |
$ | — | $ | 13,194 | $ | 13,194 | $ | — | ||||||||||||||||
SUMMARY OF UNPAID POSTPETITION DEBTS (MOR-4)
Attach aged listing of accounts payable.
| Number of Days Past Due | ||||||||||||||||||||||||
| Current | 0-30 | 31-60 | 61-90 | Over 90 | Total | |||||||||||||||||||
| Unilife Corporation: |
||||||||||||||||||||||||
| Accounts Payable |
2,941 | — | — | — | — | 2,941 | ||||||||||||||||||
| Wages Payable |
— | — | — | — | — | — | ||||||||||||||||||
| Taxes Payable |
— | — | — | — | — | — | ||||||||||||||||||
| Rent/Leases-Building |
— | — | — | — | — | — | ||||||||||||||||||
| Rent/Leases-Equipment |
— | — | — | — | — | — | ||||||||||||||||||
| Secured Debt/Adequate Protection Payments |
— | — | — | — | — | — | ||||||||||||||||||
| Professional Fees |
— | — | — | — | — | — | ||||||||||||||||||
| Amounts Due to Insiders* |
— | — | — | — | — | — | ||||||||||||||||||
|
Other: |
— | — | — | — | — | — | ||||||||||||||||||
|
Other: |
— | — | — | — | — | — | ||||||||||||||||||
| Total Postpetition Debts |
2,941 | — | — | — | — | 2,941 | ||||||||||||||||||
| Unilife Medical Solutions, Inc.: |
||||||||||||||||||||||||
| Accounts Payable |
15,322 | — | — | — | — | 15,322 | ||||||||||||||||||
| Wages Payable |
— | — | — | — | — | — | ||||||||||||||||||
| Taxes Payable |
— | — | — | — | — | — | ||||||||||||||||||
| Rent/Leases-Building |
— | — | — | — | — | — | ||||||||||||||||||
| Rent/Leases-Equipment |
— | — | — | — | — | — | ||||||||||||||||||
| Secured Debt/Adequate Protection Payments |
— | — | — | — | — | — | ||||||||||||||||||
| Professional Fees |
— | — | — | — | — | — | ||||||||||||||||||
| Amounts Due to Insiders* |
— | — | — | — | — | — | ||||||||||||||||||
|
Other: |
— | — | — | — | — | — | ||||||||||||||||||
|
Other: |
— | — | — | — | — | — | ||||||||||||||||||
| Total Postpetition Debts |
15,322 | — | — | — | — | 15,322 | ||||||||||||||||||
| * | “Insider” is defined in 11 U.S.C. Section 101(31). |
11
| In re Unilife Corporation, et al. [1] | Case No. 17-10805 | |||
| Reporting Period: Sept. 1 to Sept. 30, 2017 |
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING (MOR-5)
| Accounts Receivable Reconciliation |
Amount | |||||||
| Total Accounts Receivable at the beginning of the reporting period |
$ | 325,751 | ||||||
| + Amounts billed during the period |
— | |||||||
| - Amounts collected during the period |
(20,000 | ) | ||||||
| Total Accounts Receivable at the end of the reporting period |
305,751 | |||||||
| Accounts Receivable Aging |
Amount | |||||||
| 0 - 30 days old |
— | |||||||
| 31 - 60 days old |
274,817 | |||||||
| 61 - 90 days old |
— | |||||||
| 91+ days old |
30,934 | |||||||
| Total Accounts Receivable |
305,751 | |||||||
| Amount considered uncollectible (Bad Debt) |
(305,751 | ) | ||||||
| Accounts Receivable (Net) |
$ | — | ||||||
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. |
|
X |
| |||
| 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. |
|
X |
| |||
| 3. Have all postpetition tax returns been timely filed? If no, provide an explanation below. |
X | |||||
| 4. Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below. |
X | |||||
| 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. |
X | |||||
12