Horsehead Holding (HRRS) 8-K Regulation FD Disclosure

Exhibit 99.1

UNITED STATES BANKRUPTCY COURT

FOR THE DISTRICT OF DELAWARE

In re: HORSEHEAD HOLDING CORP	Case No. 16-10287, 288, 289, 290, 291
Debtor	Reporting Period: February 2 - February 29, 2016

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.

REQUIRED DOCUMENTS	Form No.	Document Attached	Explanation Attached	Affidavit/Supplement Attached
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			x
Cash disbursements journals		x
Statement of Operations	MOR-2	x
Balance Sheet	MOR-3	x
Status of Postpetition Taxes	MOR-4	x
Copies of IRS Form 6123 or payment receipt		n/a
Copies of tax returns filed during reporting period		n/a
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	Date
/s/ Timothy D. Boates	3/21/2016
Signature of Authorized Individual*	Date
Timothy D. Boates	Chief Restructuring Officer
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.

MOR

(04/07)

	MOR-1
In re: HORSEHEAD HOLDING CORP		Case No. 16-10287, 288, 289, 290, 291
Debtor		Reporting Period:February 2 - February 29, 2016

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 (FORMIR-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)]

	16-10287 HORSEHEAD HOLDINGS CORPORATION								16-10288 HORSEHEAD CORPORATION																	16-10290 Inmetco								16-10291 Zochem
	WFC -2552			PNC -3765		16-10287			PNC -3127			WFC -9756		WFC 6331			PNC -7517		PNC -7525			WFC -1949		16-10288		WFC -5018			WFC -0254			16-10290		PNC -6944			PNC -6952			SB -5117		SB -0918		16-10291		GRAND
	TOTAL			TOTAL		TOTAL			TOTAL			TOTAL		100			100		TOTAL			100		TOTAL		320			320			TOTAL		185			185			185		185		TOTAL		TOTAL
BEGINNING BALANCE		536			77,440		77,976			0			36,008		0			13		1,323,180			0		1,359,201		0			0			0		(434	)		652,850			298,010		238,283		1,188,708		2,625,886
																																													—		—
CASH RECEIPTS																																													—		—
Trade Receipts		—			2,686,953		2,686,953			—			—		931,798					11,183,024					12,114,822		2,991,148						2,991,148					6,154,934			92,454		1,290,935		7,538,323		25,331,246
Other Receipts		15,772,886			162		15,773,048			—			20							—					20								—		18,677,793						842,240				19,520,033		35,293,102
TOTAL RECEIPTS		15,772,886			2,687,115		18,460,001			—			20		931,798			—		11,183,024			—		12,114,842		2,991,148			—			2,991,148		18,677,793			6,154,934			934,695		1,290,935		27,058,357		60,624,348
CASH DISBURSEMENTS																				—
Purchases		2,506,721			889,099		3,395,820			5,000			374,460							—					379,460								—		5,306,333						5,746		157,248		5,469,327		9,244,608
Payroll & Taxes		18,675			37,371		56,046			—			2,700,165							—			91,609		2,791,775					89,044			89,044								198,001				198,001		3,134,866
Benefits		485,190			—		485,190			10,372			—							—					10,372								—								219,469				219,469		715,031
Contract Services		206,517			92,742		299,258			174,091			—							—					174,091								—										65		65		473,414
Freight		429,932			35,691		465,623			689,209			—							—					689,209								—								315		66,378		66,693		1,221,525
Insurance		553,351			206,037		759,389			50,859			—							—					50,859								—												—		810,248
Utilities		394,621			5,477		400,098			1,700			—							—					1,700								—								63,599		84,049		147,648		549,445
Supplies		381,109			50,936		432,045			34,472			—							—					34,472								—								21,660		15,893		37,553		504,070
Miscellaneous		268,002			4,000		272,002			84,255			2,812							—					87,067		3,455			8,527			11,982		1,557						9,764		404		11,725		382,776
Other Operating Costs		17,500			46,059		63,559			36,484			—							790,065					826,549					72,000			72,000								113,391		39,380		152,771		1,114,878
Leases		—			—		—			—			5,400							—					5,400								—												—		5,400
Professional Fees		1,062,088			—		1,062,088			—			—							—					—								—												—		1,062,088
PNC Facility Repayment		—			—		—			—			—							—					—								—		18,677,793										18,677,793		18,677,793
Utility Deposits		(200,000	)		—		(200,000	)		—			—					781,500		—					781,500								—												—		581,500
CriticalVendors - Freight		862,189			—		862,189			—			—							—					—								—								18,718				18,718		880,907
TOTAL DISBURSEMENTS		6,985,896			1,367,411		8,353,307			1,086,441			3,082,837		—			781,500		790,065			91,609		5,832,453		3,455			169,571			173,026		23,985,683			—			650,663		363,416		24,999,762		39,358,548
																									—
Bank Account Transfers		(3,175,000	)				(3,175,000	)		878,201			4,015,189		(931,798	)		10,837,938		(11,716,139	)		91,609		3,174,999		(97,571	)		97,571			—		6,807,784			(6,807,784	)								—
ENDING BOOK BALANCE		5,612,527			1,397,144		7,009,671			(208,241	)		968,380		0			10,056,451		—			0		10,816,591		2,890,122			(72,000	)		2,818,122		1,499,459			—			582,041		1,165,802		3,247,302		23,891,686
DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN)
TOTAL DISBURSEMENTS							8,353,307																		5,832,453								173,026												24,999,762
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS							—																		—								—												—
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES							—																		—								—												—
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES							8,353,307																		5,832,453								173,026												24,999,762

MOR-1b
In re: HORSEHEAD HOLDING CORP	Case No. 16-10287, 288, 289, 290, 291
Debtor	Reporting Period: February 2 - February 29, 2016

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

This schedule is to include all retained professional payments from case inception to current month

		Amount		Check		Amount Paid		Year-To-Date
Payee	Period Covered	Approved	Payor	Number	Date	Fees	Expenses	Fees	Expenses
No debtor professionals were paid during the reporting period

FORM MOR-1b

(04/07)

In re. HORSEHEAD HOLDING CORP	MOR-2	Case No. 16-10287, 288, 289, 290, 291
Debtor		Reporting Period: February 2-29, 2016

Horsehead Holding Corp. and Subsidiaries

CONSOLIDATING STATEMENTS OF OPERATIONS

DEBTOR IN POSSESSION

For the 28 days ended February 29, 2016(UNAUDITED)

(Amounts in thousands, except per share amounts)

FINAL MARCH 15TH
	Horsehead Holding Corp.			Horsehead Corporation			HMP			INMETCO			Zochem			Eliminations			Consolidated
Net sales of zinc material and other goods	$	—		$	8,395		$	2,550		$	—		$	8,114		$	—		$	19,059
Net sales of nickel based material and other services		—			—			—			3,434			—			—			3,434
EAF dust service fees		—			3,287			—			—			—			(98	)		3,189
Net sales		—			11,682			2,550			3,434			8,114			(98	)		25,682
Cost of sales of zinc material and other goods		—			7,101			4,510			—			7,540			—			19,151
Cost of sales of nickel based material and other services		—			—			—			2,437			—			(98	)		2,339
Cost of EAF dust services		—			2,379			—			—			—			—			2,379
Insurance claim income		—			—			—			—			—			—			—
Cost of sales (excluding depreciation and amortization)		—			9,480			4,510			2,437			7,540			(98	)		23,869
Depreciation and amortization		—			1,180			2,560			252			187			—			4,179
Selling, general and administrative expenses		18			1,363			58			253			144			—			1,836
Total costs and expenses		18			12,023			7,128			2,942			7,871			(98	)		29,884
Income from operations		(18	)		(341	)		(4,578	)		492			243			—			(4,202	)
Equity in income of subsidiary, net of taxes		(5,165	)		—			—			—			—			5,165			—
Other income ( expense)
Interest expense		(604	)		(1,846	)		—			(37	)		(173	)		88			(2,572	)
Interest and other income		90			2			—			—			—			(88	)		4
Other income (expense)		—			2			—			—			(19	)		—			(17	)
Total other income (expense)		(514	)		(1,842	)		—			(37	)		(192	)		—			(2,585	)
REORGANIZATION ITEMS, NET		(3,814	)		(4,790	)		—			—			(554	)		—			(9,158	)
Income before income taxes		(9,511	)		(6,973	)		(4,578	)		455			(503	)		5,165			(15,945	)
Income tax provision		—			(5,876	)		—			179			(116	)		—			(5,813	)	36.5	%
NET INCOME (LOSS)	$	(9,511	)	$	(1,097	)	$	(4,578	)	$	276		$	(387	)	$	5,165		$	(10,132	)
Earnings per common share:
Basic	$	(0.16	)	$	(0.02	)	$	(0.08	)	$	0.00		$	(0.01	)	$	0.09		$	(0.17	)
Diluted	$	(0.16	)	$	(0.02	)	$	(0.08	)	$	0.00		$	(0.01	)	$	0.09		$	(0.17	)
Weighted average shares outstanding:
Basic		60,339			60,339			60,339			60,339			60,339			60,339			60,339
Diluted		60,339			60,339			60,339			60,339			60,339			60,339			60,339
Net Income (Loss)	$	(9,511	)	$	(1,097	)	$	(4,578	)	$	276		$	(387	)	$	5,165		$	(10,132	)
Income Tax Provision		—			(5,876	)		—			179			(116	)		—			(5,813	)
Interest Expense		604			1,846			—			37			173			(88	)		2,572
Interest income and other income		(90	)		(4	)		—			—			19			88			13
Equity in income of subsidiary		5,165			—			—			—			—			(5,165	)		—
Noncash hedge adjustments		—			10			(10	)		—			(4	)		—			(4	)
Noncash compensation expense		15			441			—			—			—			—			456
Writeoff of inventory supplies/vacation accrual		—			—			—			—			—			—			—
Reorganization charges		3,814			4,790			—			—			554			—			9,158
Depreciation and amortization		—			1,180			2,560			252			187			—			4,179
Adjusted EBITDA		(3	)		1,290			(2,028	)		744			426			—			429

NOTE: THE DECEMBER 31, 2015 BALANCES WILL BE ADJUSTED UPON COMPLETION OF THE 2015 AUDIT AND MAY AFFECT FEBRUARY FINAL RESULTS

NOTE: HORSEHEAD CORP. INCLUDES NON-DEBTOR BALANCES (CHR & HZR)

3/21/2016

INCOME (EXPENSE)

REORGANIZATION CHARGES

	FEBRUARY
HHC
Professional Fee		(2,544	)
Interest Expense		(1,270	)
		(3,814	)
HORSEHEAD
Hedges		49
Interest Exp		(4,839	)
Other Income		—
		(4,790	)
INMETCO
Hedges		—
ZOCHEM
Hedges		(49	)
Profess Fee/Other		(360	)
Interest Exp		(145	)
		(554	)
TOTAL		(9,158	)

In re. HORSEHEAD HOLDING CORP	MOR-3	Case No: 16-10287, 288, 289, 290, 291
Debtor		Reporting Period: February 2 - 29, 2016

Horsehead Holding Corp. and Subsidiaries

CONSOLIDATING BALANCE SHEETS

DEBTOR IN POSSESSION

February 29, 2016(UNAUDITED)

(Amounts in thousands, except per share amounts)

FINAL MARCH 15TH
ASSETS	Horsehead Holding Corp.		Horsehead Corporation			HMP			Zochem		INMETCO			Eliminations			Consolidated
Current assets
Cash and cash equivalents	$	7,077	$	11,316		$	—		$	3,387	$	2,786		$	—		$	24,566
Accounts receivable, net of allowance		290		6,993			8,832			15,864		5,950			(465	)		37,464
Inventories, net		—		12,876			7,511			10,553		5,779			—			36,719
Prepaid expenses and other current assets		2,257		13,120			—			1,495		1,044			(6,972	)		10,944
Deferred income taxes		—		5,405			—			24		301			—			5,730
Total current assets		9,624		49,710			16,343			31,323		15,860			(7,437	)		115,423
Property, plant and equipment, net		—		138,660			580,006			24,567		31,312			—			774,545
Other assets
Intangible assets		—		7,707			—			83		1,537			—			9,327
Restricted cash		—		7,939			—			—		—			—			7,939
Deferred income taxes		—		—			—			—		—			57,932			57,932
Investment in and advances to subsidiary		730,115		27,174			(702,132	)		15,879		4,132			(75,168	)		—
Deposits and other		14,968		216			402			878		670			(14,968	)		2,166
Total other assets		745,083		43,036			(701,730	)		16,840		6,339			(32,204	)		77,364
Total assets	$	754,707	$	231,406		$	(105,381	)	$	72,730	$	53,511		$	(39,641	)	$	967,332
LIABILITIES AND STOCKHOLDERS’ EQUITY	Horsehead Holding Corp.		Horsehead Corporation			HMP			Zochem		INMETCO			Eliminations			Consolidated
Current liabilities
Current maturities of long-term debt	$	—	$	—		$	—		$	—	$	—		$	—		$	—
DEBTOR IN POSSESSION FINANCING		—		19,822			—			18,678		—			—			38,500
Accounts payable		214		2,114			4,730			504		1,261			(353	)		8,470
Accrued expenses		1,794		11,542			379			378		1,889			11			15,993
Income Taxes Payable		—		(56,170	)		—			727		509			54,934			—
Total current liabilities		2,008		(22,692	)		5,109			20,287		3,659			54,592			62,963
LIABILITIES SUBJECT TO COMPROMISE - SECURED DEBT		348,588		64,943			5,000			—		—			(15,091	)		403,440
LIABILITIES SUBJECT TO COMPROMISE - PRIORITY DEBT																		—
LIABILITIES SUBJECT TO COMPROMISE - UNSECURED DEBT (AP & AL)		2,930		34,528			29,672			8,216		5,765			—			81,111
Long-term debt, less current maturities		—		—			—			—		10,000			(10,000	)		—
Other long-term liabilities		—		13,080			—			26		1,839			—			14,945
Deferred income taxes		—		(7,196	)		—			1,870		9,302			(3,976	)		—
Commitments and contingencies		—		—			—			—		—			—
Stockholders’ equity
Horsehead Holding Corp. stockholders’ equity:
Common stock, par value $.01 per share; 100,000 shares		0		0			0			0		0			0
with voting rights authorized;		602		—			—			—		—			—			602
Preferred stock, par value $.01 per share; 10,000 shares		—		—			—			—		—			—
authorized; no shares issued or outstanding		—		—			—			—		—			—			—
Additional paid-in capital		393,819		12,572			—			—		29,081			(41,653	)		393,819
Retained earnings		6,760		132,332			(145,162	)		42,331		(6,135	)		(23,513	)		6,613
Total stockholders’ equity before noncontrolling interest		401,181		144,904			(145,162	)		42,331		22,946			(65,166	)		401,034
Noncontrolling interest		—		3,839			—			—		—			—			3,839
Total stockholders’ equity		401,181		148,743			(145,162	)		42,331		22,946			(65,166	)		404,873
Total liabilities and stockholders’ equity	$	754,707	$	231,406		$	(105,381	)	$	72,730	$	53,511		$	(39,641	)	$	967,332
		—		—			—			—		—			—			—

NOTE: THE DECEMBER 31, 2015 BALANCES WILL BE ADJUSTED UPON COMPLETION OF THE 2015 AUDIT AND MAY AFFECT FEBRUARY FINAL RESULTS

NOTE: HORSEHEAD CORP. INCLUDES NON-DEBTOR BALANCES (CHR & HZR)

	MOR-4
In re: HORSEHEAD HOLDING CORP		Case No. 16-10287, 288, 289, 290, 291
Debtor		Reporting Period: February 2 - February 29, 2016

STATUS OF POSTPETITION TAXES

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		0		410,085		379,263		Various dates		EFT (payroll provider)		30,822
FICA-Employee		0		225,771		225,771		Various dates		EFT (payroll provider)		0
FICA-Employer		0		295,985		223,985		Various dates		EFT (payroll provider)		72,000
Unemployment		0		8,542		7,027		Various dates		EFT (payroll provider)		1,515
Income		0		0		0						0
Other:		0		0		0						0
Total Federal Taxes		0		940,383		836,046						104,337
State and Local
Withholding		0		93,563		93,563		Various dates		EFT (payroll provider)		0
Sales		0		29,715		0						29,715
Excise		0		0		0						0
Unemployment		0		126,754		110,436		Various dates		EFT (payroll provider)		16,318
Real Property		0		187,538		20,838		2/12/2016		#29629		166,700
Personal Property		0		0		0						0
Other:		0		0		0						0
Total State and Local		0		437,570		224,837						212,733
Total Taxes				1,377,953		1,060,883						317,070

SUMMARY OF UNPAID POSTPETITION DEBTS

Attach aged listing of accounts payable.

	Number of Days Past Due
	Current		0-30		31-60		61-90		Over 90		Total
Accounts Payable		8,470,000		0		0		0		0		8,470,000
Wages Payable		4,507,000		0		0		0		0		4,507,000
Taxes Payable		317,070		0		0		0		0		317,070
Rent/Leases-Building		0		0		0		0		0		0
Rent/Leases-Equipment		0		0		0		0		0		0
Secured Debt/Adequate Protection Payments		0		0		0		0		0		0
Professional Fees		1,270,000		0		0		0		0		1,270,000
Amounts Due to Insiders*		0		0		0		0		0		0
Other:
Other:
Total Postpetition Debts		14,564,070		0		0		0		0		14,564,070

Explain how and when the Debtor intends to pay any past-due postpetition debts.

Post petition debts will be paid with operating cash flow and or post petition financing.

	MOR-5
In re: HORSEHEAD HOLDING CORP		Case No. 16-10287, 288, 289, 290, 291
Debtor		Reporting Period: February 2 - February 29, 2016

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

	HH Corp		HMP		Inmetco		Zochem
Accounts Receivable Reconciliation
Total Accounts Receivable at the beginning of the reporting period		11,016,319		8,564,707		4,936,286		14,430,374
+ Amounts billed during the period		9,370,269		2,200,482		1,656,903		8,047,127
- Amounts collected during the period		-7,775,799		-4,339,024		-2,991,148		-7,538,323
Total Accounts Receivable at the end of the reporting period		12,610,790		6,426,166		3,602,042		14,939,178
Accounts Receivable Aging
0 - 30 days old		7,938,500		5,856,288		1,418,468		15,047,128
31 - 60 days old		1,975		176,307		1,786,145		-25,188
61 - 90 days old		61,734		121,216		214,428		-50,836
91+ days old		4,608,582		272,355		183,001		-31,926
Total Accounts Receivable		12,610,790		6,426,166		3,602,042		14,939,178
Amount considered uncollectible (Bad Debt)
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

Re. 5: Debtor opened account ######6331 with Wells Fargo during the period. The debtor made the required communications to the US Trustee.

FORM MOR-5

(04/07)

[Horsehead Letterhead]

March 21, 2016

Office of the United States Trustee

844 King Street, Suite 2207, Lockbox 35

Wilmington, DE 19801

Attn: Timothy J. Fox

Subject:Declaration Regarding Bank Reconciliation and Bank Statements

Horsehead Holding Corp. and certain of its affiliates (the “Debtors”), hereby submit this declaration regarding providing bank statements in lieu of providing bank account reconciliations.

The Debtors have not performed bank reconciliations for the period February 2, 2016 through February 29, 2016. The Debtors will complete the reconciliation for this period by April 20, 2016. The Debtors will perform all bank account reconciliations in the ordinary course of business going-forward. Copies of bank account statements will be available for inspection upon request by the Office of the United States Trustee for the District of Delaware.

Pursuant to 28 U.S.C. § 1746, I declare under penalty of perjury that the foregoing is true and correct to the best of my knowledge and belief.

/s/ Timothy Boates

Name: Timothy Boates

Position: Chief Restructuring Officer