Exhibit 99.2
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| Monthly Operating Report |
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CASE NAME: Cano Petro of New Mexico, Inc. |
| ACCRUAL BASIS |
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CASE NUMBER: 12-31550-bjh-11 |
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JUDGE: Barbara J. Houser |
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UNITED STATES BANKRUPTCY COURT
NORTHERN AND EASTERN
DISTRICT OF
TEXAS
DIVISION 6
MONTHLY OPERATING REPORT
MONTH ENDING: May 31st, 2012
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/ John H. Homier |
| CFO |
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY |
| TITLE |
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John H. Homier |
| 6/20/2012 |
PRINTED NAME OF RESPONSIBLE PARTY |
| DATE |
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PREPARER: |
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/s/ Adrian Lamberti |
| Controller |
ORIGINAL SIGNATURE OF PREPARER |
| TITLE |
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Adrian Lamberti |
| 6/20/2012 |
PRINTED NAME OF PREPARER |
| DATE |
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| Monthly Operating Report |
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CASE NAME: Cano Petro of New Mexico, Inc. |
| ACCRUAL BASIS-1 |
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CASE NUMBER: 12-31550-bjh-11 |
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COMPARATIVE BALANCE SHEET |
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| SCHEDULE |
| MONTH |
| MONTH |
| MONTH |
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| AMOUNT |
| 3/31/2012 |
| April 2012 |
| May 2012 |
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ASSETS |
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1. | UNRESTRICTED CASH |
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| $ | 232,950 |
| $ | 229,686 |
| $ | 180,287 |
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2. | RESTRICTED CASH |
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3. | TOTAL CASH (2) |
| $ | 0 |
| $ | 232,950 |
| $ | 229,686 |
| $ | 207,581 |
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4. | ACCOUNTS RECEIVABLE (NET) |
| $ | 375,000 |
| $ | 531,000 |
| $ | 289,000 |
| $ | 200,000 |
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5. | INVENTORY (5) |
| $ | 225,500 |
| $ | 88,396 |
| $ | 41,244 |
| $ | 41,468 |
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6. | NOTES RECEIVABLE |
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7. | PREPAID EXPENSES |
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| $ | 89,523 |
| $ | 312,271 |
| $ | 156,296 |
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8. | OTHER (1) MOR-1b |
| $ | 1,289,657 |
| $ | 1,039,657 |
| $ | 1,039,657 |
| $ | 1,039,657 |
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9. | TOTAL CURRENT ASSETS |
| $ | 1,890,157 |
| $ | 1,981,526 |
| $ | 1,911,858 |
| $ | 1,617,708 |
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10. | PROPERTY, PLANT & EQUIPMENT |
| $ | 78,163 |
| $ | 81,560,243 |
| $ | 81,560,243 |
| $ | 81,560,243 |
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11. | LESS: ACCUMULATED DEPRECIATION / DEPLETION |
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| $ | 72,692,284 |
| $ | 72,759,200 |
| $ | 72,820,157 |
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12. | NET PROPERTY, PLANT & EQUIPMENT |
| $ | 78,163 |
| $ | 8,867,959 |
| $ | 8,801,043 |
| $ | 8,740,086 |
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13. | DUE FROM INSIDERS |
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14. | OTHER ASSETS — NET OF |
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| AMORTIZATION (ATTACH LIST) |
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15. | OTHER (ATTACH LIST) |
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16. | TOTAL ASSETS |
| $ | 1,968,320 |
| $ | 10,849,485 |
| $ | 10,712,901 |
| $ | 10,357,794 |
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POSTPETITION LIABILITIES |
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17. | ACCOUNTS PAYABLE |
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| $ | 67,148 |
| $ | 98,387 |
| $ | 89,612 |
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18. | TAXES PAYABLE (3) |
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| $ | 41,233 |
| $ | 63,650 |
| $ | 37,310 |
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19. | NOTES PAYABLE |
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20. | PROFESSIONAL FEES |
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21. | SECURED DEBT |
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22. | OTHER (MOR 1-c) |
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| $ | (19,693 | ) | $ | (63,798 | ) | $ | 12,351 |
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23. | TOTAL POSTPETITION LIABILITIES |
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| $ | 88,688 |
| $ | 98,239 |
| $ | 139,273 |
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PREPETITION LIABILITIES |
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24. | SECURED DEBT (4) |
| $ | 80,995,000 |
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25. | PRIORITY DEBT (3) |
| $ | 153,344 |
| $ | 153,344 |
| $ | 100,060 |
| $ | 74,373 |
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26. | UNSECURED DEBT |
| $ | 216,886 |
| $ | 216,886 |
| $ | 216,886 |
| $ | 216,886 |
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27. | OTHER (MOR-1a) |
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| $ | 66,080,712 |
| $ | 66,080,712 |
| $ | 66,080,712 |
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28. | TOTAL PREPETITION LIABILITIES |
| $ | 81,365,230 |
| $ | 66,450,942 |
| $ | 66,393,869 |
| $ | 66,371,971 |
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29. | TOTAL LIABILITIES |
| $ | 81,365,230 |
| $ | 66,535,576 |
| $ | 66,495,896 |
| $ | 66,511,244 |
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EQUITY |
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30. | PREPETITION OWNERS’ EQUITY |
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| $ | (55,663,419 | ) | $ | (55,663,419 | ) | $ | (55,663,419 | ) | |
31. | POSTPETITION CUMULATIVE |
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| PROFIT OR (LOSS) |
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| $ | (26,726 | ) | $ | (119,576 | ) | $ | (490,030 | ) | |
32. | DIRECT CHARGES TO EQUITY |
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| (ATTACH EXPLANATION) |
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33. | TOTAL EQUITY |
| $ | (79,396,910 | ) | $ | (55,690,145 | ) | $ | (55,782,995 | ) | $ | (56,153,449 | ) |
34. | TOTAL LIABILITIES & OWNERS’ EQUITY |
| $ | 1,968,320 |
| $ | 10,849,485 |
| $ | 10,712,901 |
| $ | 10,357,794 |
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(1) Includes consolidated retainer of $250,000 for Cano Petroleum, Inc. and its related debtor entities
(2) exclusive of cash sweep from zero balance accounts to concentration account at Cano Petroleum, Inc.
(3) Estimated severance taxes and ad valorem taxes.
(4) For balance sheet purposes, the secured debt for Cano Petroleum, Inc. and its subsidiaries is carried in total by Cano Petroleum, Inc.
(5) Estimated
|
| Monthly Operating Report |
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CASE NAME: Cano Petro of New Mexico, Inc. |
| ACCRUAL BASIS-2 |
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CASE NUMBER: 12-31550-bjh-11 |
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INCOME STATEMENT |
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| MONTH |
| MONTH |
| MONTH |
| MONTH |
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| 3/8/2012 to 3/31/2012 |
| April-12 |
| May 2012 |
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REVENUES |
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1. | GROSS REVENUES (1) |
| $ | 369,827 |
| $ | 228,900 |
| $ | 162,100 |
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2. | LESS: RETURNS & DISCOUNTS |
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3. | NET REVENUE |
| $ | 369,827 |
| $ | 228,900 |
| $ | 162,100 |
| $ | 0 |
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COST OF GOODS SOLD |
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4. | MATERIAL |
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5. | DIRECT LABOR |
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6. | DIRECT OVERHEAD (LOE) |
| $ | 247,180 |
| $ | 230,055 |
| $ | 438,231 |
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7. | TOTAL COST OF GOODS SOLD |
| $ | 247,180 |
| $ | 230,055 |
| $ | 438,231 |
| $ | 0 |
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8. | GROSS PROFIT |
| $ | 122,647 |
| $ | (1,155 | ) | $ | (276,131 | ) | $ | 0 |
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OPERATING EXPENSES |
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9. | OFFICER / INSIDER COMPENSATION |
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10. | SELLING & MARKETING |
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11. | GENERAL & ADMINISTRATIVE |
| $ | 1,491 |
| $ | 1,561 |
| $ | 18,208 |
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12. | RENT & LEASE |
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13. | OTHER (ATTACH LIST) MOR-2a |
| $ | 40,553 |
| $ | 21,500 |
| $ | 13,400 |
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14. | TOTAL OPERATING EXPENSES |
| $ | 37,991 |
| $ | 23,061 |
| $ | 39,911 |
| $ | 0 |
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15. | INCOME BEFORE NON-OPERATING INCOME & EXPENSE |
| $ | 80,603 |
| $ | (24,216 | ) | $ | (307,739 | ) | $ | 0 |
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OTHER INCOME & EXPENSES |
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16. | NON-OPERATING INCOME (ATT. LIST) |
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17. | NON-OPERATING EXPENSE (ATT. LIST) |
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18. | INTEREST EXPENSE |
| $ | 23 |
| $ | 868 |
| $ | 879 |
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19. | DEPRECIATION / DEPLETION |
| $ | 106,301 |
| $ | 66,916 |
| $ | 60,957 |
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20. | AMORTIZATION |
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21. | OTHER (2) (ATTACH LIST) MOR-2b |
| $ | 680 |
| $ | 850 |
| $ | 879 |
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22. | NET OTHER INCOME & EXPENSES |
| $ | 107,004 |
| $ | 68,634 |
| $ | 62,715 |
| $ | 0 |
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REORGANIZATION EXPENSES |
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23. | PROFESSIONAL FEES |
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24. | U.S. TRUSTEE FEES |
| $ | 325 |
| $ | 0 |
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25. | OTHER (ATTACH LIST) |
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26. | TOTAL REORGANIZATION EXPENSES |
| $ | 325 |
| $ | 0 |
| $ | 0 |
| $ | 0 |
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27. | INCOME TAX |
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28. | NET PROFIT (LOSS) (1) |
| $ | (26,726 | ) | $ | (92,850 | ) | $ | (370,454 | ) | $ | 0 |
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(1) Net of royalties, estimated and/ or paid.
(2) Estimated property taxes.
|
| Monthly Operating Report |
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CASE NAME: Cano Petro of New Mexico, Inc. |
| ACCRUAL BASIS-3 |
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CASE NUMBER: 12-31550-bjh-11 |
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| MONTH |
| MONTH |
| MONTH |
| QUARTER |
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| 3/8/2012 to 3/31/2012 |
| April-12 |
| May 2012 |
| TOTAL |
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CASH RECEIPTS AND DISBURSEMENTS |
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1. | CASH - BEGINNING OF MONTH(1) |
| $ | 0 |
| $ | 232,950 |
| $ | 229,686 |
| $ | 0 |
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RECEIPTS FROM OPERATIONS |
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2. | CASH SALES |
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COLLECTION OF ACCOUNTS RECEIVABLE |
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3. | PREPETITION |
| $ | 299,097 |
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| $ | 299,097 |
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4. | POSTPETITION |
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| $ | 534,194 |
| $ | 317,150 |
| $ | 851,343 |
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5. | TOTAL OPERATING RECEIPTS |
| $ | 299,097 |
| $ | 534,194 |
| $ | 317,150 |
| $ | 1,150,440 |
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NON-OPERATING RECEIPTS |
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6. | LOANS & ADVANCES (ATTACH LIST) |
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| $ | 0 |
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7. | SALE OF ASSETS |
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| $ | 0 |
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8. | OTHER (ATTACH LIST) MOR - 3a |
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| $ | 12,239 |
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| $ | 12,239 |
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9. | TOTAL NON-OPERATING RECEIPTS |
| $ | 0 |
| $ | 12,239 |
| $ | 0 |
| $ | 12,239 |
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10. | TOTAL RECEIPTS |
| $ | 299,097 |
| $ | 546,433 |
| $ | 317,150 |
| $ | 1,162,680 |
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11. | TOTAL CASH AVAILABLE |
| $ | 299,097 |
| $ | 779,383 |
| $ | 546,836 |
| $ | 1,162,680 |
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OPERATING DISBURSEMENTS |
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12. | NET PAYROLL |
| $ | 9,455 |
| $ | 25,294 |
| $ | 22,251 |
| $ | 57,001 |
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13. | PAYROLL TAXES PAID |
| $ | 957 |
| $ | 2,126 |
| $ | 1,626 |
| $ | 4,709 |
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14. | SALES, USE & OTHER TAXES PAID |
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| $ | 57,073 |
| $ | 66,306 |
| $ | 119,591 |
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15. | SECURED / RENTAL / LEASES |
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| $ | 0 |
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16. | UTILITIES (2) |
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| $ | 270,977 |
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| $ | 270,977 |
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17. | INSURANCE |
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| $ | 0 |
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18. | INVENTORY PURCHASES |
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| $ | 0 |
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19. | VEHICLE EXPENSES |
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| $ | 0 |
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20. | TRAVEL |
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| $ | 0 |
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21. | ENTERTAINMENT |
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| $ | 0 |
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22. | REPAIRS & MAINTENANCE |
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| $ | 0 |
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23. | SUPPLIES |
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| $ | 0 |
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24. | ADVERTISING |
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| $ | 0 |
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25. | OTHER (3) (ATTACH LIST) MOR -3 b |
| $ | 55,735 |
| 194,226.12 |
| $ | 276,366 |
| $ | 530,116 |
| |
26. | TOTAL OPERATING DISBURSEMENTS |
| $ | 66,147 |
| $ | 549,697 |
| $ | 366,549 |
| $ | 982,392 |
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REORGANIZATION EXPENSES |
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27. | PROFESSIONAL FEES |
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| $ | 0 |
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28. | U.S. TRUSTEE FEES |
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| $ | 0 |
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29. | OTHER (ATTACH LIST) |
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| $ | 0 |
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30. | TOTAL REORGANIZATION EXPENSES |
| $ | 0 |
| $ | 0 |
| $ | 0 |
| $ | 0 |
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31. | TOTAL DISBURSEMENTS |
| $ | 66,147 |
| $ | 549,697 |
| $ | 366,549 |
| $ | 982,392 |
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32. | NET CASH FLOW |
| $ | 232,950 |
| $ | (3,264 | ) | $ | (49,399 | ) | $ | 180,287 |
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33. | CASH - END OF MONTH (1) |
| $ | 232,950 |
| $ | 229,686 |
| $ | 180,287 |
| $ | 180,287 |
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(1) exclusive of cash sweep from zero balance accounts to concentration account at Cano Petroleum, Inc.
(2) April includes Utility Deposits totaling $78,746.
(3) Including royalties, estimated and/ or paid.
|
| Monthly Operating Report |
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CASE NAME: Cano Petro of New Mexico, Inc. |
| ACCRUAL BASIS-4 |
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CASE NUMBER: 12-31550-bjh-11 |
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| SCHEDULE |
| MONTH |
| MONTH |
| MONTH |
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ACCOUNTS RECEIVABLE AGING |
| AMOUNT |
| 3/31/2012 |
| 4/30/2012 |
| 5/31/2012 |
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1. | 0-30 |
| $ | 375,000 |
| $ | 531,000 |
| $ | 289,000 |
| $ | 200,000 |
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2. | 31-60 |
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3. | 61-90 |
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4. | 91+ |
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5. | TOTAL ACCOUNTS RECEIVABLE |
| $ | 375,000 |
| $ | 531,000 |
| $ | 289,000 |
| $ | 200,000 |
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6. | AMOUNT CONSIDERED UNCOLLECTIBLE |
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7. | ACCOUNTS RECEIVABLE (NET) |
| $ | 375,000 |
| $ | 531,000 |
| $ | 289,000 |
| $ | 200,000 |
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AGING OF POSTPETITION TAXES AND PAYABLES (1) | MONTH: | May 2012 |
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| 0-30 |
| 31-60 |
| 61-90 |
| 91+ |
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TAXES PAYABLE |
| DAYS |
| DAYS |
| DAYS |
| DAYS |
| TOTAL |
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1. | FEDERAL |
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2. | STATE |
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3. | LOCAL |
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4. | OTHER (ATTACH LIST) MOR - 4a |
| $ | 13,400 |
| $ | 21,500 |
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| $ | 34,900 |
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5. | TOTAL TAXES PAYABLE |
| $ | 13,400 |
| $ | 21,500 |
| $ | 0 |
| $ | 0 |
| $ | 34,900 |
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6. | ACCOUNTS PAYABLE |
| $ | 89,612 |
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| $ | 89,612 |
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STATUS OF POSTPETITION TAXES (1) | MONTH: | May 2012 |
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| BEGINNING |
| AMOUNT |
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| ENDING |
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| TAX |
| WITHHELD AND/ |
| AMOUNT |
| TAX |
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| LIABILITY* |
| 0R ACCRUED |
| PAID |
| LIABILITY |
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FEDERAL |
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1. | WITHHOLDING** |
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2. | FICA-EMPLOYEE** |
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3. | FICA-EMPLOYER** |
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4. | UNEMPLOYMENT |
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5. | INCOME |
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6. | OTHER (ATTACH LIST) |
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7. | TOTAL FEDERAL TAXES |
| $ | 0 |
| $ | 0 |
| $ | 0 |
| $ | 0 |
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STATE AND LOCAL |
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8. | WITHHOLDING |
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9. | SALES |
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10. | EXCISE |
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|
|
|
|
|
|
| ||||
11. | UNEMPLOYMENT |
|
|
|
|
|
|
|
|
| ||||
12. | REAL PROPERTY |
| $ | 1,531 |
| $ | 879 |
|
|
| $ | 2,410 |
| |
13. | PERSONAL PROPERTY |
|
|
|
|
|
|
|
|
| ||||
14. | OTHER (ATTACH LIST) MOR - 4a |
| $ | 62,119 |
| $ | 13,400 |
| $ | 40,619 |
| $ | 34,900 |
|
15. | TOTAL STATE & LOCAL |
| $ | 63,650 |
| $ | 14,279 |
| $ | 40,619 |
| $ | 37,310 |
|
16. | TOTAL TAXES |
| $ | 63,650 |
| $ | 14,279 |
| $ | 40,619 |
| $ | 37,310 |
|
* The beginning tax liability should represent the liability from the prior month or, if this is the first operating report, the amount should be zero.
** Attach photocopies of IRS Form 6123 or your FTD coupon and payment receipt to verify payment or deposit.
(1) Only taxes paid directly by Cano Petroleum, Inc. and its subsidiaries; taxes paid on their behalf by others (e.g. first purchasers and PEO — Resourcing Edge) are not shown
| Monthly Operating Report |
|
|
CASE NAME: Cano Petro of New Mexico, Inc. | ACCRUAL BASIS-5 |
|
|
CASE NUMBER: 12-31550-bjh-11 |
|
The debtor in possession must complete the reconciliation below for each bank account, including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc. Accounts with restricted funds should be identified by placing an asterisk next to the account number. Attach additional sheets if necessary.
|
| MONTH: May 2012 |
BANK RECONCILIATIONS
|
| Account #1 |
| Account #2 |
| Account #3 |
|
|
| |||
A. | BANK: |
| Bank of Texas N.A |
|
|
|
|
|
|
| ||
B. | ACCOUNT NUMBER: |
| 31016243 |
|
|
|
|
|
|
| ||
C. | PURPOSE (TYPE): |
| Checking |
|
|
|
|
| TOTAL |
| ||
1. | BALANCE PER BANK STATEMENT |
| $ | 0 |
|
|
|
|
| $ | 0 |
|
2. | ADD: TOTAL DEPOSITS NOT CREDITED |
|
|
|
|
|
|
| $ | 0 |
| |
3. | SUBTRACT: OUTSTANDING CHECKS |
| $ | 90,790 |
|
|
|
|
| $ | 90,790 |
|
4. | OTHER RECONCILING ITEMS |
|
|
|
|
|
|
| $ | 0 |
| |
5. | MONTH END BALANCE PER BOOKS (1) |
| $ | (90,790 | ) |
|
|
|
| $ | (90,790 | ) |
6. | NUMBER OF LAST CHECK WRITTEN |
| 1010001502 |
|
|
|
|
|
|
| ||
INVESTMENT ACCOUNTS
|
|
| DATE OF |
| TYPE OF |
| PURCHASE |
| CURRENT |
| ||
BANK, ACCOUNT NAME & NUMBER |
| PURCHASE |
| INSTRUMENT |
| PRICE |
| VALUE |
| |||
7. |
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| ||
8. |
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9. |
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| ||
10. |
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| ||
11. | TOTAL INVESTMENTS |
|
|
|
|
| $ | 0 |
| $ | 0 |
|
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|
|
|
|
|
| ||
CASH |
|
|
|
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| |||
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|
| ||
12. | CURRENCY ON HAND |
|
|
|
|
|
|
| $ | 0 |
| |
|
|
|
|
|
|
|
|
|
|
| ||
13. | TOTAL CASH - END OF MONTH |
|
|
|
|
|
|
| $ | (90,790 | ) | |
(1) Includes effect of cash sweeps from zero balance accounts to concentration account at Cano Petroleum, Inc.
| Monthly Operating Report |
|
|
CASE NAME: Cano Petro of New Mexico, Inc. | ACCRUAL BASIS-6 |
|
|
CASE NUMBER: 12-31550-bjh-11 |
|
|
|
| MONTH: May 2012 |
PAYMENTS TO INSIDERS AND PROFESSIONALS
OF THE TOTAL DISBURSEMENTS SHOWN FOR THE MONTH, LIST THE AMOUNT PAID TO INSIDERS (AS DEFINED IN SECTION 101 (31) (A)-(F) OF THE U.S. BANKRUPTCY CODE) AND TO PROFESSIONALS. ALSO, FOR PAYMENTS TO INSIDERS, IDENTIFY THE TYPE OF COMPENSATION PAID (e.g. SALARY, BONUS, COMMISSIONS, INSURANCE, HOUSING ALLOWANCE, TRAVEL, CAR ALLOWANCE, ETC.). ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSIDERS
|
| TYPE OF |
| AMOUNT |
| TOTAL PAID |
| |||
NAME |
| PAYMENT |
| PAID |
| TO DATE |
| |||
1. |
|
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| ||
2. |
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3. |
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4. |
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|
| ||
5. |
|
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|
|
|
|
| ||
6. | TOTAL PAYMENTS TO INSIDERS |
|
|
| $ | 0 |
| $ | 0 |
|
PROFESSIONALS
|
| DATE OF COURT |
|
|
|
|
|
|
| TOTAL |
| |||||
|
| ORDER AUTHORIZING |
| AMOUNT |
| AMOUNT |
| TOTAL PAID |
| INCURRED |
| |||||
NAME |
| PAYMENT |
| APPROVED |
| PAID |
| TO DATE |
| & UNPAID * |
| |||||
1. |
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| ||||||
2. |
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3. |
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4. |
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| ||||||
5. |
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| ||||||
6. | TOTAL PAYMENTS TO PROFESSIONALS |
| $ | 0 |
| $ | 0 |
| $ | 0 |
| $ | 0 |
| ||
* INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED
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. |
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| |||
2. |
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3. |
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4. |
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| |||
5. |
|
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|
|
|
| |||
6. | TOTAL |
| $ | 0 |
| $ | 0 |
| $ | 0 |
|
| Monthly Operating Report |
|
|
CASE NAME: Cano Petro of New Mexico, Inc. | ACCRUAL BASIS-7 |
|
|
CASE NUMBER: 12-31550-bjh-11 |
|
|
|
| MONTH: May 2012 |
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.
A TOTAL OF $25,687.33 OF SEVERANCE TAX FOR MARCH 2012 WAS PAID IN MAY 2012.
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 |
General Liability Insurance |
| ACE American Insurance |
| 8/16/2011 to 8/16/2012 |
| Fully paid at the time |
Business Auto |
| ACE American Insurance |
| 8/16/2011 to 8/16/2012 |
| of preparation |
Umbrella |
| ACE Property & Casualty |
| 8/16/2011 to 8/16/2012 |
|
|
Umbrella Extension |
| Gotham Insurance Company |
| 8/16/2011 to 8/16/2012 |
|
|
Marine Insurance |
| AGCS Marine Insurance Co. |
| 8/16/2011 to 8/16/2012 |
|
|
COW |
| Lloyds of London |
| 8/16/2011 to 8/16/2012 |
|
|
MOR-1a
PREPETITION
1160000000 Intercompany Receivable/Payable Account |
| (60,537,017 | ) |
1160001001 Intercompany Receivable/Payable CC 1001 |
| (3,825,728 | ) |
1160001004 Intercompany Receivable/Payable CC 1004 |
| (505 | ) |
1160001005 Intercompany Receivable/Payable CC 1005 |
| (88,659 | ) |
|
| (64,451,909 | ) |
|
|
|
|
3800000000 Asset Retirement Obligation Short Term |
| (220,460 | ) |
4800000000 Asset Retirement Obligation Long Term |
| (1,408,344 | ) |
|
|
|
|
|
| (1,628,803 | ) |
|
|
|
|
Grand Total |
| (66,080,712 | ) |
MOR-1b
Blanket Bond CD |
| 25,000 |
|
Pioneer Bank CD Bond |
| 250,000 |
|
Various Bonds |
| 764,657 |
|
|
|
|
|
Total |
| 1,039,657 |
|
MOR - 1C
March Inter company adjustments |
| (19,693 | ) |
|
|
|
|
April Inter company adjustments |
| (63,732 | ) |
|
|
|
|
May Inter company adjustments |
| 12,351 |
|
|
|
|
|
|
| (71,074 | ) |
MOR-2a
March Severance Taxes |
| 40,553 |
|
|
|
|
|
April Severance Taxes |
| 21,500 |
|
|
|
|
|
May Severance Taxes (includes $8,303 adj. on march taxes) |
| 13,400 |
|
|
|
|
|
Total |
| 75,453 |
|
MOR-2b
Line 21 - Other
March 8 - 31 Ad Valorem tax Estimate |
| 680 |
|
|
|
|
|
April 1 - 30 Ad Valorem tax Estimate |
| 850 |
|
|
|
|
|
May 1 - 31 Ad Valorem tax Estimate |
| 879 |
|
|
|
|
|
Total Post Petition Ad Valorem Taxes |
| 2,410 |
|
MOR - 3a
Insurance check for Cato office |
| $ | 12,239 |
|
MOR-3b
Line 25 - Other Expenses
March 2012 |
|
|
|
|
|
|
|
LOE General |
| 2,800 |
|
Royalty Checks - Dec 2011 & Jan 2012 Sales |
| 52,935 |
|
|
| 55,735 |
|
|
|
|
|
April 2012 |
|
|
|
|
|
|
|
LOE General |
| 177,577 |
|
Royalty Checks - Feb 2012 Sales |
| 20,438 |
|
|
| 198,015 |
|
|
|
|
|
May 2012 |
|
|
|
LOE General |
| 238,607 |
|
Royalty Checks -Mar 2012 Sales |
| 37,759 |
|
|
|
|
|
LOE TOTAL |
| 276,366 |
|
MOR 4a
April Estimated Severance taxes |
| $ | 21,500 |
|
May Estimated Severance taxes |
| $ | 13,400 |
|
Total Taxes Due |
| $ | 34,900 |
|
