Exhibit 99.1
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE
In re Verasun Energy Corporation et al.
Case No. (Jointly Administered) | 08-12606 | |||
Reporting Period: | November 30, 2008 | |||
Federal Tax I.D. # | 20-3430241 |
CORPORATE MONTHLY OPERATING REPORT
File with the Court and submit a copy to the United States Trustee within 30 days after the end of the month and submit a copy of the report to any official committee appointed in the case.
REQUIRED DOCUMENTS | Form No. | Document Attached | Explanation Attached | |||
Schedule of Cash Receipts | MOR-1a | x | ||||
Schedule of Disbursements | MOR-1b | x | ||||
Bank Account Information | MOR-1c | x | ||||
Copies of bank statements (See Notes to the MOR) | x | |||||
Cash disbursements journals (See Notes to the MOR) | x | |||||
Statement of Operations (Income Statement) | MOR-2 | x | ||||
Balance Sheet | MOR-3 | x | ||||
Status of Post-petition Taxes | MOR-4 | x | ||||
Copies of IRS Form 6123 or payment receipt (See Notes to the MOR) | x | |||||
Copies of tax returns filed during reporting period (See Notes to the MOR) | x | |||||
Summary of Unpaid Post-petition Debts (See Notes to the MOR) | MOR-4 | x | ||||
Listing of Aged Accounts Payable (See Notes to the MOR) | x | |||||
Accounts Receivable Reconciliation and Aging (See Notes to the MOR) | MOR-5 | x | x | |||
Taxes Reconciliation and Aging (See MOR-7) | MOR-5 | x | ||||
Payments to Insiders and Professional | MOR-6 | x | ||||
Post Petition Secured Notes Adequate Protection Payments | MOR-6 | x | ||||
Debtor Questionnaire | MOR-7 | 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.
/s/ James Bonsall | 12/30/2008 | |||
Signature of Authorized Individual* | Date | |||
James Bonsall | ||||
Printed Name of Authorized Individual | ||||
Chief Restructuring Officer | ||||
Title |
* | 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. |
MOR NOTES
In re Verasun Energy Corporation et al.
Case No. (Jointly Administered) | 08-12606 | |||
Reporting Period: | November 30, 2008 | |||
Federal Tax I.D. # | 20-3430241 |
Notes to the Monthly Operating Report
GENERAL:
The report includes activity from the following Debtors and related case numbers:
Debtor | Case Number | |
ASA Albion, LLC | 08-12607 | |
ASA Bloomingburg LLC | 08-12608 | |
ASA Linden, LLC | 08-12609 | |
ASA OpCo Holdings, LLC | 08-12610 | |
US Bio Marion LLC | 08-12611 | |
US BioEnergy Corporation | 08-12612 | |
VeraSun Albert City, LLC | 08-12613 | |
VeraSun Aurora Corporation | 08-12614 | |
VeraSun BioDiesel, LLC | 08-12605 | |
VeraSun Central City, LLC | 08-12615 | |
VeraSun Charles City, LLC | 08-12616 | |
VeraSun Dyersville, LLC | 08-12617 | |
VeraSun Energy Corporation | 08-12606 | |
VeraSun Fort Dodge, LLC | 08-12618 | |
VeraSun Granite City, LLC | 08-12619 | |
VeraSun Hankinson, LLC | 08-12620 | |
VeraSun Hartley, LLC | 08-12621 | |
VeraSun Janesville, LLC | 08-12622 | |
VeraSun Litchfield, LLC | 08-12623 | |
VeraSun Marketing, LLC | 08-12624 | |
VeraSun Ord, LLC | 08-12625 | |
VeraSun Reynolds, LLC | 08-12626 | |
VeraSun Tilton, LLC | 08-12627 | |
VeraSun Welcome, LLC | 08-12628 | |
VeraSun Woodbury, LLC | 08-12629 |
MOR NOTES
In re Verasun Energy Corporation et al.
Case No. (Jointly Administered) | 08-12606 | |||
Reporting Period: | November 30, 2008 | |||
Federal Tax I.D. # | 20-3430241 |
Notes to the Monthly Operating Report
Notes to MOR-1a:
Cash receipts related to intercompany transfers among the debtor entities are not included in this schedule.
Notes to MOR-1b:
All cash disbursements exclude intercompany transfers among the debtor entities.
Notes to MOR-1c:
All amounts listed are the bank balances as of the end of the month.
Notes to MOR-2:
The Income Statement reflects revenue and expenses that directly correspond to the debtor legal entity except VeraSun Tilton, LLC, which does not maintain separate accounting records.
Any changes to prior period balances will be reflected in the current Monthly Operating Report (the “MOR”).
Notes to MOR-3:
The Balance Sheet reflects assets, liabilities, and shareholders’ equity that directly correspond to the debtor legal entity except VeraSun Tilton, LLC, which does not maintain separate accounting records. The accounting records of the parent VeraSun Energy Corporation is land owned by VeraSun Tilton, LLC, carried at approximately $4.3 million.
Certain accruals for overhead are recorded monthly at parent VeraSun Energy Corporation and allocated to other debtor entities when paid.
Because the debtor entities file a joint Federal Income Tax return, individual debtor entity balances reflect assets and liabilities that net to the financial statement line on a combined basis.
Intercompany balances subject to compromise and not subject to compromise are shown net by debtor entity.
Any changes to prior period balances will be reflected in the current month MOR.
Notes to MOR-4:
The tax walkforward reflects both pre-petition and post-petition taxes, and the beginning balance for the first MOR (November 2008) reflects accrued taxes as of October 31, 2008
Verasun Energy Corporation and related debtors are current on all post petition payments other than disputes that arise in the ordinary course of business transactions.
MOR NOTES
In re Verasun Energy Corporation et al.
Case No. (Jointly Administered) | 08-12606 | |||
Reporting Period: | November 30, 2008 | |||
Federal Tax I.D. # | 20-3430241 |
Notes to the Monthly Operating Report
Notes to MOR-5:
The ending third party accounts receivable balances by debtor legal entity are listed on MOR-3, which balances differ from the Accounts Receivable Aging primarily due to the following: (a) certain aged receivables are included in “Prepaid expenses and other assets” on MOR-3 while (b) accrued sales are recorded on MOR-3 but will not be part of the aging until the subsequent month.
Notes to MOR-6:
Payments to insiders exclude intercompany payments between debtor entities.
Notes to MOR-7:
The Debtors have made certain payments on account of prepetition liabilities in accordance with orders of the Bankruptcy Court specifically authorizing payment of certain prepetition liabilities.
MOR-1a
In re Verasun Energy Corporation et al.
Case No. (Jointly Administered) | 08-12606 | |||
Reporting Period: | November 30, 2008 | |||
Federal Tax I.D. # | 20-3430241 |
Schedule of Cash Receipts
(000’s)
TIME PERIOD: | ||||
11/1/2008 - 11/30/2008 | ||||
(see Notes to the MOR related to MOR-1a) |
Debtor | Case Number | Cash Receipts | |||
ASA Albion, LLC | 08-12607 | $ | 0 | ||
ASA Bloomingburg LLC | 08-12608 | $ | 4 | ||
ASA Linden, LLC | 08-12609 | $ | 2,992 | ||
ASA OpCo Holdings, LLC | 08-12610 | $ | 3,372 | ||
US Bio Marion LLC | 08-12611 | $ | 13,138 | ||
US BioEnergy Corporation | 08-12612 | $ | 355 | ||
VeraSun Albert City, LLC | 08-12613 | $ | 10,193 | ||
VeraSun Aurora Corporation | 08-12614 | $ | 9,147 | ||
VeraSun BioDiesel, LLC | 08-12605 | $ | 0 | ||
VeraSun Central City, LLC | 08-12615 | $ | 10,275 | ||
VeraSun Charles City, LLC | 08-12616 | $ | 11,012 | ||
VeraSun Dyersville, LLC | 08-12617 | $ | 11,276 | ||
VeraSun Energy Corporation | 08-12606 | $ | 16,859 | ||
VeraSun Fort Dodge, LLC | 08-12618 | $ | 11,132 | ||
VeraSun Granite City, LLC | 08-12619 | $ | 0 | ||
VeraSun Hankinson, LLC | 08-12620 | $ | 8,306 | ||
VeraSun Hartley, LLC | 08-12621 | $ | 10,310 | ||
VeraSun Janesville, LLC | 08-12622 | $ | 0 | ||
VeraSun Litchfield, LLC | 08-12623 | $ | 0 | ||
VeraSun Marketing, LLC | 08-12624 | $ | 29,003 | ||
VeraSun Ord, LLC | 08-12625 | $ | 4,561 | ||
VeraSun Reynolds, LLC | 08-12626 | $ | 12 | ||
VeraSun Tilton, LLC | 08-12627 | $ | 0 | ||
VeraSun Welcome, LLC | 08-12628 | $ | 363 | ||
VeraSun Woodbury, LLC | 08-12629 | $ | 5,159 | ||
Total Cash Receipts | $ | 157,470 | |||
MOR-1b
In re Verasun Energy Corporation et al.
Case No. (Jointly Administered) | 08-12606 | |||
Reporting Period: | November 30, 2008 | |||
Federal Tax I.D. # | 20-3430241 |
Schedule of Disbursements
(000’s)
TIME PERIOD: | ||
11/1/2008 - 11/30/2008 |
Debtor | Case Number | Disbursements | |||
ASA Albion, LLC | 08-12607 | $ | 128 | ||
ASA Bloomingburg LLC | 08-12608 | $ | 0 | ||
ASA Linden, LLC | 08-12609 | $ | 2,081 | ||
ASA OpCo Holdings, LLC | 08-12610 | $ | 3,060 | ||
US Bio Marion LLC | 08-12611 | $ | 4,662 | ||
US BioEnergy Corporation | 08-12612 | $ | 23 | ||
VeraSun Albert City, LLC | 08-12613 | $ | 7,900 | ||
VeraSun Aurora Corporation | 08-12614 | $ | 6,880 | ||
VeraSun BioDiesel, LLC | 08-12605 | $ | 0 | ||
VeraSun Central City, LLC | 08-12615 | $ | 5,410 | ||
VeraSun Charles City, LLC | 08-12616 | $ | 9,219 | ||
VeraSun Dyersville, LLC | 08-12617 | $ | 5,798 | ||
VeraSun Energy Corporation | 08-12606 | $ | 15,224 | ||
VeraSun Fort Dodge, LLC | 08-12618 | $ | 11,784 | ||
VeraSun Granite City, LLC | 08-12619 | $ | 0 | ||
VeraSun Hankinson, LLC | 08-12620 | $ | 7,171 | ||
VeraSun Hartley, LLC | 08-12621 | $ | 8,860 | ||
VeraSun Janesville, LLC | 08-12622 | $ | 21 | ||
VeraSun Litchfield, LLC | 08-12623 | $ | 0 | ||
VeraSun Marketing, LLC | 08-12624 | $ | 10,574 | ||
VeraSun Ord, LLC | 08-12625 | $ | 2,354 | ||
VeraSun Reynolds, LLC | 08-12626 | $ | 0 | ||
VeraSun Tilton, LLC | 08-12627 | $ | 0 | ||
VeraSun Welcome, LLC | 08-12628 | $ | 470 | ||
VeraSun Woodbury, LLC | 08-12629 | $ | 4,427 | ||
Total Disbursements | $ | 106,046 | |||
MOR-1c
In re Verasun Energy Corporation et al.
Case No. (Jointly Administered) | 08-12606 | |||
Reporting Period: | November 30, 2008 | |||
Federal Tax I.D. # | 20-3430241 |
Bank Account Information
(000’s)
Legal Entity | Case No. | Bank and account description | Bank Account No. | Bank Balance | |||||
ASA Albion, LLC | 08-12607 | First National Bank Omaha - O&M | 110118507 | $ | 22 | ||||
ASA Bloomingburg LLC | 08-12608 | First National Bank Omaha - O&M | 110118497 | $ | 36 | ||||
ASA Linden, LLC | 08-12609 | First National Bank Omaha - O&M | 110118484 | $ | 1,986 | ||||
ASA OpCo Holdings, LLC | 08-12610 | First National Bank Omaha - O&M | 110118510 | $ | 312 | ||||
08-12610 | First National Bank Omaha - FSA | 110119647 | $ | 6 | |||||
08-12610 | First National Bank Omaha - Debt Service | 110118617 | $ | 0 | |||||
US Bio Marion LLC | 08-12611 | Wells Fargo O&M | 4121595540 | $ | 12 | ||||
08-12611 | Wells Fargo Sweep | 4121595540 | $ | 8,569 | |||||
08-12611 | Bank of America | 3755551267 | $ | 0 | |||||
US BioEnergy Corporation | 08-12612 | Wells Fargo O&M | 4121455620 | $ | 0 | ||||
08-12612 | Wells Fargo Sweep | 4121455620 | $ | 337 | |||||
08-12612 | Bank of America | 3755551199 | $ | 0 | |||||
VeraSun Albert City, LLC | 08-12613 | Wells Fargo O&M | 4121455646 | $ | 0 | ||||
08-12613 | Wells Fargo Sweep | 4121455646 | $ | 2,303 | |||||
08-12613 | Bank of America | 3755551131 | $ | 0 | |||||
VeraSun Aurora Corporation | 08-12614 | First National Bank Omaha - O&M | 110197793 | $ | 2,660 | ||||
VeraSun BioDiesel, LLC | 08-12605 | First National Bank Omaha - O&M | 110193548 | $ | 0 | ||||
VeraSun Central City, LLC | 08-12615 | Wells Fargo O&M | 4121455661 | $ | 0 | ||||
08-12615 | Wells Fargo Sweep | 4121455661 | $ | 5,176 | |||||
08-12615 | Bank of America | 3755551144 | $ | 0 | |||||
VeraSun Charles City, LLC | 08-12616 | First National Bank Omaha - O&M | 110211417 | $ | 2,192 | ||||
VeraSun Dyersville, LLC | 08-12617 | Wells Fargo O&M | 4121455729 | $ | 0 | ||||
08-12617 | Wells Fargo Sweep | 4121455729 | $ | 5,736 | |||||
08-12617 | Bank of America | 3755551160 | $ | 0 | |||||
VeraSun Energy Corporation | 08-12606 | Bank of America Payroll | 3755551241 | $ | 16 | ||||
08-12606 | Wilmington Trust | 091810-000 | $ | 9,341 | |||||
08-12606 | First National Bank Omaha - O&M | 110193438 | $ | 3,623 | |||||
08-12606 | First Bank & Trust | 1081888 | $ | 664 | |||||
08-12606 | First National Bank Omaha Money Market | 201651766-20 | $ | 1,536 | |||||
08-12606 | Morgan Stanley | 14-78ER2 | $ | 5 | |||||
VeraSun Fort Dodge, LLC | 08-12618 | First National Bank Omaha - O&M | 110118073 | $ | 510 | ||||
VeraSun Granite City, LLC | 08-12619 | First National Bank Omaha - O&M | 110211145 | $ | 0 | ||||
VeraSun Hankinson, LLC | 08-12620 | Wells Fargo O&M | 4121455703 | $ | 0 | ||||
08-12620 | Wells Fargo Sweep Account | 4121455703 | $ | 1,348 | |||||
08-12620 | Bank of America Account | 3755551186 | $ | 0 | |||||
VeraSun Hartley, LLC | 08-12621 | First National Bank Omaha - O&M | 110210845 | $ | 1,512 | ||||
VeraSun Janesville, LLC | 08-12622 | Wells Fargo O&M | 4121455711 | $ | 0 | ||||
08-12622 | Wells Fargo Sweep Account | 4121455711 | $ | 20 | |||||
08-12622 | Bank of America Account | 3755551173 | $ | 0 | |||||
VeraSun Litchfield, LLC | 08-12623 | NONE | NONE | $ | 0 | ||||
VeraSun Marketing, LLC | 08-12624 | First National Bank Omaha - Revenue | 110203784 | $ | 19,134 | ||||
08-12624 | First National Bank Omaha - O&M | 110203690 | $ | 561 | |||||
VeraSun Ord, LLC | 08-12625 | Wells Fargo O&M | 4121455687 | $ | 0 | ||||
08-12625 | Wells Fargo Sweep | 4121455687 | $ | 2,429 | |||||
08-12625 | Bank of America | 3755551157 | $ | 0 | |||||
VeraSun Reynolds, LLC | 08-12626 | First National Bank Omaha - O&M | 110211404 | $ | 37 | ||||
VeraSun Tilton, LLC | 08-12627 | NONE | NONE | $ | 0 | ||||
VeraSun Welcome, LLC | 08-12628 | First National Bank Omaha - O&M | 110203920 | $ | 97 | ||||
VeraSun Woodbury, LLC | 08-12629 | Wells Fargo O&M | 4121455695 | $ | 0 | ||||
08-12629 | Wells Fargo Sweep | 4121455695 | $ | 790 | |||||
08-12629 | Bank of America | 3755551128 | $ | 0 | |||||
$ | 70,969 | ||||||||
MOR-2
In re Verasun Energy Corporation et al.
Case No. (Jointly Administered) | 08-12606 | |||
Reporting Period: | November 30, 2008 | |||
Federal Tax I.D. # | 20-3430241 |
Statement of Operations (Income Statement)
(000’s)
Case Number | VeraSun Energy Corporation 08-12606 | Aurora 08-12614 | Fort Dodge 08-12618 | Charles City 08-12616 | Bio Diesel 08-12605 | Marketing 08-12624 | Litchfield 08-12623 | Welcome 08-12628 | Hartley 08-12621 | |||||||||||||||||||||||||||
Net Sales | $ | — | $ | 20,108 | $ | 18,038 | $ | 12,937 | $ | — | $ | 101,574 | $ | — | $ | 190 | $ | 9,879 | ||||||||||||||||||
Cost of goods sold | — | 22,522 | 20,647 | 17,975 | — | 92,858 | — | 1,393 | 13,080 | |||||||||||||||||||||||||||
Gross profit (loss) | — | (2,414 | ) | (2,608 | ) | (5,038 | ) | — | 8,716 | — | (1,203 | ) | (3,201 | ) | ||||||||||||||||||||||
Selling, general and administrative expenses | 521 | (5 | ) | (6 | ) | (6 | ) | 0 | 553 | 0 | 181 | 2 | ||||||||||||||||||||||||
Long-lived asset impairment | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Operating income (loss) | (521 | ) | (2,409 | ) | (2,602 | ) | (5,032 | ) | (0 | ) | 8,163 | (0 | ) | (1,385 | ) | (3,203 | ) | |||||||||||||||||||
Other income (expense): | ||||||||||||||||||||||||||||||||||||
Interest expense | (3,573 | ) | 8 | — | — | — | (0 | ) | — | — | — | |||||||||||||||||||||||||
Interest income | 11 | — | — | — | — | — | — | 1 | — | |||||||||||||||||||||||||||
Other income (expense) | 0 | — | — | — | — | 31 | — | — | 0 | |||||||||||||||||||||||||||
Reorganization items, net | (3,139 | ) | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
(6,701 | ) | 8 | — | — | — | 31 | — | 1 | 0 | |||||||||||||||||||||||||||
Income (loss) before income taxes | (7,221 | ) | (2,401 | ) | (2,602 | ) | (5,032 | ) | (0 | ) | 8,194 | (0 | ) | (1,384 | ) | (3,203 | ) | |||||||||||||||||||
Income tax expense (benefit) | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Income (loss) before minority Interest | (7,221 | ) | (2,401 | ) | (2,602 | ) | (5,032 | ) | (0 | ) | 8,194 | (0 | ) | (1,384 | ) | (3,203 | ) | |||||||||||||||||||
Minority interest in net (gain) loss of subsidiary | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Net Income (Loss) | $ | (7,221 | ) | $ | (2,401 | ) | $ | (2,602 | ) | $ | (5,032 | ) | $ | (0 | ) | $ | 8,194 | $ | (0 | ) | $ | (1,384 | ) | $ | (3,203 | ) | ||||||||||
MOR-2
In re Verasun Energy Corporation et al.
Case No. (Jointly Administered) | 08-12606 | |||
Reporting Period: | November 30, 2008 | |||
Federal Tax I.D. # | 20-3430241 |
Statement of Operations (Income Statement)
(000’s)
Case Number | Granite City 08-12619 | Reynolds 08-12626 | Opco 08-12610 | Linden 08-12609 | Albion 08-12607 | Bloomingburg 08-12608 | VSE-USB 3 Corporate 08-12612 | Marion 08-12611 | Hankinson 08-12620 | |||||||||||||||||||||||||||
Net Sales | $ | — | $ | — | $ | — | $ | 12,736 | $ | 15,591 | $ | 12,415 | $ | 12 | $ | 1,634 | $ | 7,130 | ||||||||||||||||||
Cost of goods sold | — | — | — | 14,392 | 15,882 | 14,957 | 339 | 4,985 | 15,221 | |||||||||||||||||||||||||||
Gross profit (loss) | — | — | — | (1,657 | ) | (291 | ) | (2,541 | ) | (327 | ) | (3,351 | ) | (8,091 | ) | |||||||||||||||||||||
Selling, general and administrative expenses | 0 | (477 | ) | (1 | ) | 166 | 214 | 231 | 14 | 222 | 86 | |||||||||||||||||||||||||
Long-lived asset impairment | — | 744 | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Operating income (loss) | (0 | ) | (267 | ) | 1 | (1,822 | ) | (506 | ) | (2,772 | ) | (341 | ) | (3,572 | ) | (8,177 | ) | |||||||||||||||||||
Other income (expense): | ||||||||||||||||||||||||||||||||||||
Interest expense | — | — | (55 | ) | 213 | 201 | 242 | (41 | ) | (876 | ) | (768 | ) | |||||||||||||||||||||||
Interest income | — | 4 | — | — | — | — | 36 | 3 | 1 | |||||||||||||||||||||||||||
Other income (expense) | 0 | — | — | — | — | — | 15 | — | — | |||||||||||||||||||||||||||
Reorganization items, net | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
0 | 4 | (55 | ) | 213 | 201 | 242 | 10 | (873 | ) | (768 | ) | |||||||||||||||||||||||||
Income (loss) before income taxes | (0 | ) | (263 | ) | (54 | ) | (1,609 | ) | (304 | ) | (2,531 | ) | (331 | ) | (4,445 | ) | (8,945 | ) | ||||||||||||||||||
Income tax expense (benefit) | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Income (loss) before minority Interest | (0 | ) | (263 | ) | (54 | ) | (1,609 | ) | (304 | ) | (2,531 | ) | (331 | ) | (4,445 | ) | (8,945 | ) | ||||||||||||||||||
Minority interest in net (gain) loss of subsidiary | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Net Income (Loss) | $ | (0 | ) | $ | (263 | ) | $ | (54 | ) | $ | (1,609 | ) | $ | (304 | ) | $ | (2,531 | ) | $ | (331 | ) | $ | (4,445 | ) | $ | (8,945 | ) | |||||||||
MOR-2
In re Verasun Energy Corporation et al.
Case No. (Jointly Administered) | 08-12606 | |||
Reporting Period: | November 30, 2008 | |||
Federal Tax I.D. # | 20-3430241 |
Statement of Operations (Income Statement)
(000’s)
Case Number | Albert City 08-12613 | Woodbury 08-12629 | Central City 08-12615 | Ord 08-12625 | Dyersville 08-12617 | Janesville 08-12622 | ||||||||||||||||||
Net Sales | $ | 6,991 | $ | 5,451 | $ | 6,303 | $ | 203 | $ | 4,251 | $ | — | ||||||||||||
Cost of goods sold | 10,729 | 8,086 | 11,911 | 4,756 | 8,023 | 7,473 | ||||||||||||||||||
Gross profit (loss) | (3,738 | ) | (2,635 | ) | (5,608 | ) | (4,553 | ) | (3,772 | ) | (7,473 | ) | ||||||||||||
Selling, general and administrative expenses | 219 | 136 | 149 | 87 | 149 | (544 | ) | |||||||||||||||||
Long-lived asset impairment | — | — | — | — | — | — | ||||||||||||||||||
Operating income (loss) | (3,957 | ) | (2,771 | ) | (5,757 | ) | (4,641 | ) | (3,921 | ) | (6,929 | ) | ||||||||||||
Other income (expense): | ||||||||||||||||||||||||
Interest expense | (625 | ) | (335 | ) | (776 | ) | (383 | ) | (775 | ) | (783 | ) | ||||||||||||
Interest income | 1 | 0 | 2 | 1 | 2 | 0 | ||||||||||||||||||
Other income (expense) | — | — | — | — | — | — | ||||||||||||||||||
Reorganization items, net | — | — | — | — | — | — | ||||||||||||||||||
(625 | ) | (335 | ) | (774 | ) | (382 | ) | (773 | ) | (783 | ) | |||||||||||||
Income (loss) before income taxes | (4,582 | ) | (3,106 | ) | (6,531 | ) | (5,023 | ) | (4,694 | ) | (7,712 | ) | ||||||||||||
Income tax expense (benefit) | — | — | — | — | — | — | ||||||||||||||||||
Income (loss) before minority Interest | (4,582 | ) | (3,106 | ) | (6,531 | ) | (5,023 | ) | (4,694 | ) | (7,712 | ) | ||||||||||||
Minority interest in net (gain) loss of subsidiary | — | — | — | — | — | — | ||||||||||||||||||
Net Income (Loss) | $ | (4,582 | ) | $ | (3,106 | ) | $ | (6,531 | ) | $ | (5,023 | ) | $ | (4,694 | ) | $ | (7,712 | ) | ||||||
MOR-3
In re Verasun Energy Corporation et al.
Case No. (Jointly Administered) | 08-12606 | |||
Reporting Period: | November 30, 2008 | |||
Federal Tax I.D. # | 20-3430241 |
Balance Sheet
(000’s)
Case Number | VeraSun Energy Corporation 08-12606 | Aurora 08-12614 | Fort Dodge 08-12618 | Charles City 08-12616 | Bio Diesel 08-12605 | Marketing 08-12624 | Litchfield 08-12623 | Welcome 08-12628 | ||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Current Assets | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 13,622 | $ | 2 | $ | 5 | $ | 1,610 | $ | — | $ | 19,495 | $ | — | $ | 38 | ||||||||||||||||
Restricted cash | 1,536 | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Receivables | — | 17 | — | — | — | 58,043 | — | — | ||||||||||||||||||||||||
Inventories | — | 7,186 | 6,502 | 5,649 | — | 52,945 | — | 1,206 | ||||||||||||||||||||||||
Prepaid expenses and other assets | 6,180 | 1,171 | 2,350 | 1,380 | — | 5,217 | — | (377 | ) | |||||||||||||||||||||||
Deferred income taxes | 3,728 | (735 | ) | (359 | ) | (198 | ) | — | (130 | ) | — | (4 | ) | |||||||||||||||||||
Total current assets | 25,066 | 7,641 | 8,498 | 8,442 | — | 135,569 | — | 863 | ||||||||||||||||||||||||
Other Assets | ||||||||||||||||||||||||||||||||
Debt issuance costs, net of amortization | 6,934 | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Other Intangible Assets | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Other Long-Term Assets | 2,632 | 27 | — | — | — | 3,918 | — | — | ||||||||||||||||||||||||
Investment in subsidiaries | 1,450,373 | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Total other assets | 1,459,939 | 27 | — | — | — | 3,918 | — | — | ||||||||||||||||||||||||
Property and Equipment, net | 8,000 | 104,378 | 89,779 | 133,346 | 235 | 313 | 2,741 | 206,947 | ||||||||||||||||||||||||
Total Assets | $ | 1,493,005 | $ | 112,046 | $ | 98,277 | $ | 141,789 | $ | 235 | $ | 139,800 | $ | 2,741 | $ | 207,809 | ||||||||||||||||
Liabilities and Stockholders’ Equity | ||||||||||||||||||||||||||||||||
Current Liabilities | ||||||||||||||||||||||||||||||||
Accounts payable | $ | 1,489 | $ | 3,643 | $ | 3,634 | $ | 2,419 | $ | — | $ | 9,033 | $ | — | $ | 129 | ||||||||||||||||
Accrued expenses and other liabilities | 21,791 | 706 | 317 | 269 | — | 201 | 6 | 158 | ||||||||||||||||||||||||
Debitor in possession financing | 25,658 | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Current maturities of long-term debt | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Intercompany (receivable)/payable | (13,397 | ) | (8,026 | ) | (8,769 | ) | (3,536 | ) | 0 | 49,994 | 0 | 431 | ||||||||||||||||||||
Total current liabilities | 35,541 | (3,678 | ) | (4,817 | ) | (848 | ) | 0 | 59,228 | 6 | 719 | |||||||||||||||||||||
Long-Term Liabilities | ||||||||||||||||||||||||||||||||
Long-term debt, less current maturities | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Deferred income taxes | 37,295 | 23,292 | 14,328 | 5,390 | (3,722 | ) | 10,448 | 6,744 | (4,841 | ) | ||||||||||||||||||||||
Other long-term liabilities | 481 | 1,431 | — | — | — | — | — | — | ||||||||||||||||||||||||
Total long-term liabilities | 37,776 | 24,723 | 14,328 | 5,390 | (3,722 | ) | 10,448 | 6,744 | (4,841 | ) | ||||||||||||||||||||||
Total Liabilities Not Subject to Compromise | 73,317 | 21,045 | 9,511 | 4,542 | (3,722 | ) | 69,675 | 6,750 | (4,123 | ) | ||||||||||||||||||||||
Liabilities Subject to Compromise | 737,067 | 11,882 | 6,353 | 11,388 | — | 29,262 | — | 9,463 | ||||||||||||||||||||||||
Intercompany (receivable)/payable Subject to Compromise | (781,156 | ) | (31,683 | ) | 28,811 | 148,324 | 1,497 | 15,645 | 12,774 | 220,428 | ||||||||||||||||||||||
Total Liabilities Subject to Compromise | (44,089 | ) | (19,800 | ) | 35,164 | 159,712 | 1,497 | 44,907 | 12,774 | 229,891 | ||||||||||||||||||||||
Total liabilities | 29,228 | 1,245 | 44,675 | 164,254 | (2,225 | ) | 114,583 | 19,524 | 225,769 | |||||||||||||||||||||||
Minority Interest in consolidated subsidiary | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Shareholders’ Equity | ||||||||||||||||||||||||||||||||
Common Stock | 1,586 | 0 | 20,924 | — | — | — | — | — | ||||||||||||||||||||||||
Additional paid-in capital | 1,397,796 | 25,263 | — | — | — | — | — | — | ||||||||||||||||||||||||
Retained earnings | 64,396 | 85,538 | 32,678 | (22,466 | ) | 2,459 | 25,217 | (16,783 | ) | (17,959 | ) | |||||||||||||||||||||
Total Shareholders’ Equity | 1,463,777 | 110,801 | 53,602 | (22,466 | ) | 2,459 | 25,217 | (16,783 | ) | (17,959 | ) | |||||||||||||||||||||
Total Liabilities and Shareholders’ Equity | $ | 1,493,005 | $ | 112,046 | $ | 98,277 | $ | 141,789 | $ | 235 | $ | 139,800 | $ | 2,741 | $ | 207,809 | ||||||||||||||||
MOR-3
In re Verasun Energy Corporation et al.
Case No. (Jointly Administered) | 08-12606 | |||
Reporting Period: | November 30, 2008 | |||
Federal Tax I.D. # | 20-3430241 |
Balance Sheet
(000’s)
VSE-USB 3
Case Number | Hartley 08-12621 | Granite City 08-12619 | Reynolds 08-12626 | Opco 08-12610 | Linden 08-12609 | Albion 08-12607 | Bloomingburg 08-12608 | Corporate 08-12612 | ||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Current Assets | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 1,519 | $ | 0 | $ | 37 | $ | 319 | $ | 1,986 | $ | 16 | $ | 35 | $ | 341 | ||||||||||||||||
Restricted cash | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Receivables | — | — | — | 15 | 8,870 | 8,913 | 8,925 | 248 | ||||||||||||||||||||||||
Inventories | 6,829 | — | — | — | 5,005 | 5,656 | 4,815 | — | ||||||||||||||||||||||||
Prepaid expenses and other assets | 22 | 0 | 3 | 999 | 1,443 | 2,478 | 873 | 2,640 | ||||||||||||||||||||||||
Deferred income taxes | (2 | ) | — | (0 | ) | — | (164 | ) | (180 | ) | (33 | ) | 1,865 | |||||||||||||||||||
Total current assets | 8,368 | 0 | 40 | 1,333 | 17,140 | 16,883 | 14,614 | 5,094 | ||||||||||||||||||||||||
Other Assets | ||||||||||||||||||||||||||||||||
Debt issuance costs, net of amortization | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Other Intangible Assets | — | — | — | — | 6,403 | 6,441 | 6,420 | — | ||||||||||||||||||||||||
Other Long-Term Assets | 200 | — | — | 120 | 533 | 745 | 597 | 3,725 | ||||||||||||||||||||||||
Investment in subsidiaries | — | — | — | 1,837 | — | — | — | 734,371 | ||||||||||||||||||||||||
Total other assets | 200 | — | — | 1,957 | 6,935 | 7,186 | 7,017 | 738,096 | ||||||||||||||||||||||||
Property and Equipment, net | 199,760 | 1,760 | 9,532 | — | 169,701 | 171,146 | 181,164 | 4,308 | ||||||||||||||||||||||||
Total Assets | $ | 208,327 | $ | 1,760 | $ | 9,572 | $ | 3,290 | $ | 193,776 | $ | 195,216 | $ | 202,795 | $ | 747,498 | ||||||||||||||||
Liabilities and Stockholders’ Equity | ||||||||||||||||||||||||||||||||
Current Liabilities | ||||||||||||||||||||||||||||||||
Accounts payable | $ | 1,631 | $ | — | $ | 4 | $ | 339 | $ | 6,028 | $ | 3,330 | $ | 4,291 | $ | 167 | ||||||||||||||||
Accrued expenses and other liabilities | 218 | (19 | ) | 10 | 690 | 1,056 | 639 | 673 | 850 | |||||||||||||||||||||||
Debitor in possession financing | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Current maturities of long-term debt | — | — | — | — | 274 | 199 | — | — | ||||||||||||||||||||||||
Intercompany (receivable)/payable | (3,233 | ) | — | 0 | (3,060 | ) | 579 | 926 | 1,690 | (10 | ) | |||||||||||||||||||||
Total current liabilities | (1,384 | ) | (19 | ) | 15 | (2,031 | ) | 7,938 | 5,094 | 6,653 | 1,007 | |||||||||||||||||||||
Long-Term Liabilities | ||||||||||||||||||||||||||||||||
Long-term debt, less current maturities | — | — | — | — | 2,283 | 4,801 | — | — | ||||||||||||||||||||||||
Deferred income taxes | (7,070 | ) | (30,115 | ) | (4,450 | ) | 2,217 | (36,111 | ) | (23,473 | ) | (26,420 | ) | (35,358 | ) | |||||||||||||||||
Other long-term liabilities | — | — | — | — | — | — | — | 362 | ||||||||||||||||||||||||
Total long-term liabilities | (7,070 | ) | (30,115 | ) | (4,450 | ) | 2,217 | (33,828 | ) | (18,672 | ) | (26,420 | ) | (34,996 | ) | |||||||||||||||||
Total Liabilities Not Subject to Compromise | (8,454 | ) | (30,134 | ) | (4,435 | ) | 186 | (25,891 | ) | (13,578 | ) | (19,767 | ) | (33,989 | ) | |||||||||||||||||
Liabilities Subject to Compromise | 9,760 | 0 | 3,710 | 576 | 88,538 | 89,616 | 93,150 | 5,004 | ||||||||||||||||||||||||
Intercompany (receivable)/payable Subject to Compromise | 231,698 | 11,172 | 89,074 | (440,302 | ) | 189,019 | 167,348 | 183,042 | (37,465 | ) | ||||||||||||||||||||||
Total Liabilities Subject to Compromise | 241,458 | 11,172 | 92,785 | (439,726 | ) | 277,557 | 256,964 | 276,192 | (32,461 | ) | ||||||||||||||||||||||
Total liabilities | 233,005 | (18,962 | ) | 88,350 | (439,540 | ) | 251,666 | 243,386 | 256,425 | (66,450 | ) | |||||||||||||||||||||
Minority Interest in consolidated subsidiary | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Shareholders’ Equity | ||||||||||||||||||||||||||||||||
Common Stock | — | — | — | — | — | — | — | 648 | ||||||||||||||||||||||||
Additional paid-in capital | — | — | — | 439,626 | — | — | — | 751,266 | ||||||||||||||||||||||||
Retained earnings | (24,677 | ) | 20,722 | (78,778 | ) | 3,204 | (57,891 | ) | (48,171 | ) | (53,630 | ) | 62,034 | |||||||||||||||||||
Total Shareholders’ Equity | (24,677 | ) | 20,722 | (78,778 | ) | 442,830 | (57,891 | ) | (48,171 | ) | (53,630 | ) | 813,948 | |||||||||||||||||||
Total Liabilities and Shareholders’ Equity | $ | 208,327 | $ | 1,760 | $ | 9,572 | $ | 3,290 | $ | 193,776 | $ | 195,216 | $ | 202,795 | $ | 747,498 | ||||||||||||||||
MOR-3
In re Verasun Energy Corporation et al.
Case No. (Jointly Administered) | 08-12606 | |||
Reporting Period: | November 30, 2008 | |||
Federal Tax I.D. # | 20-3430241 |
Balance Sheet
(000’s)
Case Number | Marion 08-12611 | Hankinson 08-12620 | Albert City 08-12613 | Woodbury 08-12629 | Central City 08-12615 | Ord 08-12625 | Dyersville 08-12617 | Janesville 08-12622 | ||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||
Current Assets | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 12,220 | $ | 1,288 | $ | 2,304 | $ | 758 | $ | 5,031 | $ | 2,357 | $ | 5,570 | $ | 9 | ||||||||||||||||
Restricted cash | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Receivables | (59 | ) | — | (398 | ) | (1 | ) | — | (33 | ) | — | — | ||||||||||||||||||||
Inventories | 3,858 | 4,252 | 3,284 | 2,198 | 3,556 | 1,888 | 3,908 | 205 | ||||||||||||||||||||||||
Prepaid expenses and other assets | 238 | 3,501 | 977 | 77 | 1,679 | 1,022 | 183 | 3 | ||||||||||||||||||||||||
Deferred income taxes | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Total current assets | 16,257 | 9,041 | 6,167 | 3,031 | 10,266 | 5,234 | 9,662 | 218 | ||||||||||||||||||||||||
Other Assets | ||||||||||||||||||||||||||||||||
Debt issuance costs, net of amortization | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Other Intangible Assets | 2,411 | — | 2,500 | 2,084 | — | 4,417 | — | — | ||||||||||||||||||||||||
Other Long-Term Assets | 250 | 58 | 400 | 92 | — | — | — | — | ||||||||||||||||||||||||
Investment in subsidiaries | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Total other assets | 2,661 | 58 | 2,900 | 2,176 | — | 4,417 | — | — | ||||||||||||||||||||||||
Property and Equipment, net | 146,353 | 175,940 | 160,377 | 63,363 | 177,143 | 75,739 | 175,853 | 147,991 | ||||||||||||||||||||||||
Total Assets | $ | 165,271 | $ | 185,038 | $ | 169,444 | $ | 68,571 | $ | 187,409 | $ | 85,390 | $ | 185,515 | $ | 148,209 | ||||||||||||||||
Liabilities and Stockholders’ Equity | ||||||||||||||||||||||||||||||||
Current Liabilities | ||||||||||||||||||||||||||||||||
Accounts payable | $ | 475 | $ | 365 | $ | 670 | $ | 1,059 | $ | 1,636 | $ | 2 | $ | 448 | $ | — | ||||||||||||||||
Accrued expenses and other liabilities | 1,203 | 1,181 | 1,946 | 1,178 | 2,001 | 1,000 | 1,282 | 1,078 | ||||||||||||||||||||||||
Debitor in possession financing | — | 2,955 | 2,955 | 1,478 | 2,955 | 1,478 | 2,955 | — | ||||||||||||||||||||||||
Current maturities of long-term debt | — | — | 60 | 165 | 207 | — | — | — | ||||||||||||||||||||||||
Intercompany (receivable)/payable | (354 | ) | (4,584 | ) | (2,637 | ) | (3,211 | ) | (3,233 | ) | 1,409 | (1,085 | ) | 105 | ||||||||||||||||||
Total current liabilities | 1,324 | (83 | ) | 2,994 | 669 | 3,566 | 3,888 | 3,601 | 1,183 | |||||||||||||||||||||||
Long-Term Liabilities | ||||||||||||||||||||||||||||||||
Long-term debt, less current maturities | — | — | 185 | 451 | 2,996 | — | — | — | ||||||||||||||||||||||||
Deferred income taxes | (19,043 | ) | 8,994 | 19,299 | 6,705 | 50,203 | 6,668 | 4,760 | (719 | ) | ||||||||||||||||||||||
Other long-term liabilities | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Total long-term liabilities | (19,043 | ) | 8,994 | 19,484 | 7,156 | 53,200 | 6,668 | 4,760 | (719 | ) | ||||||||||||||||||||||
Total Liabilities Not Subject to Compromise | (17,720 | ) | 8,911 | 22,478 | 7,825 | 56,766 | 10,556 | 8,361 | 464 | |||||||||||||||||||||||
Liabilities Subject to Compromise | 98,331 | 99,414 | 76,771 | 42,789 | 87,349 | 45,539 | 103,353 | 91,656 | ||||||||||||||||||||||||
Intercompany (receivable)/payable Subject to Compromise | 9,257 | 4,786 | (8,486 | ) | (256 | ) | (19,133 | ) | (4,020 | ) | 8,213 | 1,410 | ||||||||||||||||||||
Total Liabilities Subject to Compromise | 107,588 | 104,200 | 68,286 | 42,534 | 68,216 | 41,519 | 111,566 | 93,066 | ||||||||||||||||||||||||
Total liabilities | 89,868 | 113,111 | 90,763 | 50,359 | 124,982 | 52,075 | 119,926 | 93,530 | ||||||||||||||||||||||||
Minority Interest in consolidated subsidiary | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Shareholders’ Equity | ||||||||||||||||||||||||||||||||
Common Stock | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Additional paid-in capital | 120,899 | 110,308 | 110,272 | 48,119 | 104,363 | 57,911 | 98,480 | 83,542 | ||||||||||||||||||||||||
Retained earnings | (45,496 | ) | (38,381 | ) | (31,591 | ) | (29,908 | ) | (41,936 | ) | (24,596 | ) | (32,891 | ) | (28,864 | ) | ||||||||||||||||
Total Shareholders’ Equity | 75,403 | 71,927 | 78,681 | 18,212 | 62,426 | 33,315 | 65,588 | 54,678 | ||||||||||||||||||||||||
Total Liabilities and Shareholders’ Equity | $ | 165,271 | $ | 185,038 | $ | 169,444 | $ | 68,571 | $ | 187,409 | $ | 85,390 | $ | 185,515 | $ | 148,209 | ||||||||||||||||
MOR-4
In re Verasun Energy Corporation et al.
Case No. (Jointly Administered) | 08-12606 | |||
Reporting Period: | November 30, 2008 | |||
Federal Tax I.D. # | 20-3430241 |
Status of Post-petition Taxes
(000’s)
Verasun Energy Corporation et al. | Beginning Tax Liability | Amount Withheld or Accrued | Amount Paid | Ending Tax Liability | |||||||||||
Payroll taxes | $ | (537 | ) | $ | (1,076 | ) | $ | 1,612 | $ | 0 | |||||
Real Estate and Personal Property | $ | (3,394 | ) | $ | (344 | ) | $ | 2 | $ | (3,736 | ) | ||||
Sales and Use | $ | (448 | ) | $ | (111 | ) | $ | 74 | $ | (485 | ) | ||||
Other | (339 | ) | (1,068 | ) | 1,017 | $ | (390 | ) | |||||||
Total Taxes | $ | (4,717 | ) | $ | (2,599 | ) | $ | 2,705 | $ | (4,611 | ) |
MOR-5
In re Verasun Energy Corporation et al.
Case No. | 08-12606 | |||
Reporting Period: | November 30, 2008 |
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
(000’s)
Accounts Receivable Aging | 0-30 Days | 31-60 Days | 61-90 Days | 91+ Days | Total | ||||||||||
0 - 30 days old | $ | 81,486 | $ | 81,486 | |||||||||||
31 - 60 days old | $ | 2,848 | $ | 2,848 | |||||||||||
61 - 90 days old | $ | 284 | $ | 284 | |||||||||||
91+ days old | $ | 826 | $ | 826 | |||||||||||
Total Accounts Receivable | $ | 81,486 | $ | 2,848 | $ | 284 | $ | 826 | $ | 85,444 |
MOR-6
In re Verasun Energy Corporation et al.
Case No. (Jointly Administered) | 08-12606 | |||
Reporting Period: | November 30, 2008 | |||
Federal Tax I.D. # | 20-3430241 |
Payments to Insiders and Professional
(000’s)
Of the total disbursements shown on the Schedule of Disbursements Report (MOR-1b) list the amount paid to insiders (as defined in Section 101(31) (A)-(F) of the U.S. Bankruptcy Code) and to professionals. 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
Name | Amount Paid During Month | Total Paid to Date | ||||
Barry Schaps, Senior Vice President, Sales and Logistics | $ | 35 | $ | 35 | ||
Bryan D. Meier, Vice President, Finance and Chief Accounting Officer | $ | 21 | $ | 21 | ||
Danny Herron, President and Chief Financial Officer* | $ | 107 | $ | 107 | ||
Donald L. Endres, Chief Executive Officer and Director | $ | 38 | $ | 38 | ||
Joel West, Vice President, Commodity Management | $ | 16 | $ | 16 | ||
Mark D. Dickey, Senior Vice President, General Counsel, and Corporate Secretary | $ | 21 | $ | 21 | ||
Paul J. Caudill, Senior Vice President, Operations | $ | 23 | $ | 23 | ||
Robert L. Antoine, Jr., Senior Vice President, Human Resources | $ | 20 | $ | 20 | ||
Virg Garbers, Vice President and Corporate Controller | $ | 12 | $ | 12 | ||
William L. Honnef, Senior Vice President, Sales and Marketing and Strategic Initiatives | $ | 32 | $ | 32 | ||
Total Payments to Insiders | $ | 325 | $ | 325 | ||
* Includes cash payment of accrued vacation upon termination on November 11, 2008.
Professionals
| ||||||
Name | Amount Paid During Month | Total Paid to Date | ||||
NONE | $ | 0 | $ | 0 | ||
$ | 0 | $ | 0 | |||
$ | 0 | $ | 0 | |||
$ | 0 | $ | 0 | |||
$ | 0 | $ | 0 | |||
$ | 0 | $ | 0 | |||
$ | 0 | $ | 0 | |||
$ | 0 | $ | 0 | |||
$ | 0 | $ | 0 | |||
$ | 0 | $ | 0 | |||
Total Payments to Professionals | $ | 0 | $ | 0 | ||
Post Petition Secured Notes Adequate Protection Payments
| ||||||
Name of Creditor | Amount Paid During Month | Total Paid to Date | ||||
AgStar Financial Services - Albert City | $ | 80 | $ | 80 | ||
AgStar Financial Services - Central City | $ | 353 | $ | 353 | ||
AgStar Financial Services - Ord | $ | 180 | $ | 180 | ||
AgStar Financial Services - Woodbury | $ | 39 | $ | 39 | ||
AgStar Financial Services - Hankinson | $ | 120 | $ | 120 | ||
First Bank and Trust - Marion | $ | 40 | $ | 40 | ||
Dougherty Funding | $ | 590 | $ | 590 | ||
Total Payments | $ | 1,401 | $ | 1,401 | ||
MOR-7
In re Verasun Energy Corporation et al.
Case No. (Jointly Administered) | 08-12606 | |||
Reporting Period: | November 30, 2008 | |||
Federal Tax I.D. # | 20-3430241 |
Debtor Questionnaire
Must be completed each month. If the answer to any of the questions is “Yes”, provide a detailed explanation of each item. Attach additional | 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 this reporting period? | X | ||||
3 | Is the Debtor delinquent in the timely filing of any post-petition tax returns? | X | ||||
4 | Are workers compensation, general liability or other necessary insurance coverages expired or cancelled, or has the debtor received notice of expiration or cancellation of such policies? | X | ||||
5 | Is the Debtor delinquent in paying any insurance premium payment? | X | ||||
6 | Have any payments been made on pre-petition liabilities this reporting period? | X* | ||||
7 | Are any post petition receivables (accounts, notes or loans) due from related parties? | X | ||||
8 | Are any post petition payroll taxes past due? | X | ||||
9 | Are any post petition State or Federal income taxes past due? | X | ||||
10 | Are any post petition real estate taxes past due? | X | ||||
11 | Are any other post petition taxes past due? | X | ||||
12 | Have any pre-petition taxes been paid during this reporting period? | X | ||||
13 | Are any amounts owed to post petition creditors delinquent? | X | ||||
14 | Are any wage payments past due? | X | ||||
15 | Have any post petition loans been received by the Debtor from any party? | X | ||||
16 | Is the Debtor delinquent in paying any U.S. Trustee fees? | X | ||||
17 | Is the Debtor delinquent with any court ordered payments to attorneys or other professionals? | X | ||||
18 | Have the owners or shareholders received any compensation outside of the normal course of business? | X |
* | The Debtors have made certain payments on account of prepetition liabilities in accordance with orders of the Bankruptcy Court specifically authorizing payment of certain prepetition liabilities. |
In re Verasun Energy Corporation et al.
Case No. (Jointly Administered) | 08-12606 | |||
Reporting Period: | November 30, 2008 | |||
Federal Tax I.D. # | 20-3430241 |
If additional information is required for the current or any future Monthly Operating Reports, please send the request to:
Verasun Energy Corporation 110 N. Minnesota Ave. Suite 300 Sioux Falls, SD 57104 Attn: Jim Bonsall |