Exhibit 99.1
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Katy Industries, Inc., et al. | Case No. 17-11101 (KJC) |
| Reporting Period: Petition Date to May 26, 2017 |
MONTHLY OPERATING REPORT
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|
| Document |
| Explanation |
| Affidavit/Supplement |
REQUIRED DOCUMENTS |
| Form No. |
| Attached |
| Attached |
| Attached |
Schedule of Cash Receipts and Disbursements |
| MOR-1 |
| X |
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|
|
Certification of Bank Account Reconciliation |
| MOR-la |
| X |
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|
Schedule of Professional Fees Paid |
| MOR-1b |
| X |
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|
Schedule of Bank Reconciliation |
| MOR-1c |
| X |
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|
Cash disbursements journals** |
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Statement of Operations |
| MOR-2 |
| X |
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Balance Sheet |
| MOR-3 |
| X |
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Status of Post petition Taxes |
| MOR-4 |
| X |
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|
Copies of IRS Form 6123 or payment receipt |
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Copies of tax returns filed during reporting period |
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Summary of Payroll Taxes |
| MOR-4 |
| X |
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Detail of Payroll Taxes Withheld and Paid |
| MOR-4a |
| X |
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Summary of Unpaid Post petition Debts |
| MOR-4 |
| X |
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Listing of aged accounts payable |
| MOR-4 |
| X |
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Accounts Receivable Reconciliation and Aging |
| MOR-5 |
| X |
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Debtor Questionnaire |
| MOR-5 |
| X |
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This Monthly Operating Report has been prepared solely for the purpose of complying with the monthly reporting requirements applicable in these chapter 11 cases and is in a format that the Debtors believe is acceptable to the Office of the United States Trustee. The financial information provided in this Monthly Operating Report is limited in scope and covers a limited time period. Moreover, such information is preliminary and unaudited and is not prepared in accordance with the general acceptable accounting principles of the United States.
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/ Robert W. Zimmer |
| 7/6/2017 |
Signature of Debtor |
| Date |
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|
|
/s/ Robert W. Zimmer |
| 7/6/2017 |
Signature of Joint Debtor |
| Date |
|
|
|
/s/ Robert W. Zimmer |
| 7/6/2017 |
Signature of Authorized Individual* |
| Date |
Robert W. Zimmer | Chief Financial Officer |
Printed Name of Authorized Individual | Title of Authorized Individual |
**Copies of the bank statements and cash disbursements journals are not included with this Monthly Operating Report due to the voluminous nature of these reports and are available upon reasonable request in writing to counsel for the Debtors.
*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.
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Katy Industries, Inc., et. al . | Case No. 17-11101 (KJC) |
| Reporting Period: Petition Date to May 26, 2017 |
GENERAL NOTES
Description of the Chapter 11 Cases: On May 14, 2017 (the “Petition Date”), each of the Debtors filed voluntary petitions for relief under Chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”). The Debtors’ chapter 11 cases are jointly administered for procedural purposes only under In re Katy Industries, Inc., et al. , Case No. 17-11101 (KJC) (Bankr. D. Del.) pursuant to an order entered by the Bankruptcy Court on May 16, 2017 [Dkt. No. 37]. On May 26, 2017, the Office of the United States Trustee for the District of Delaware (the “U.S. Trustee”) appointed seven members to the statutory committee of unsecured creditors pursuant to section 1102(a)(1) of the Bankruptcy Code [Dkt. No. 75]. The Debtors continue to operate their business and manage their properties as debtors in possession pursuant to sections 1104(a) and 1108 of the Bankruptcy Code. Additional information about these chapter 11 cases, court filings, and claims information are available at the Debtors’ restructuring website: www.jndla.com/cases/katy.
Debtor in Possession Financial Statements: The financial statements and supplemental information contained in this Monthly Operating Report are unaudited, preliminary, and may not comply with generally accepted accounting principles in the United States of America (“U.S. GAAP”) in all material respects.
Financial Accounting Standards Board Accounting Standards Codification 852 (Reorganizations) (“ASC 852”), which is applicable to companies in chapter 11, requires that financials for periods after the filing of a chapter 11 petition distinguish transactions and events that are directly associated with the reorganization from the ongoing operations of the business. The financial statements have been prepared in accordance with ASC 852. The unaudited financial statements have been derived from the books and records of the Debtors. This information, however, has not been subject to procedures that would typically be applied to financial information presented in accordance with U.S. GAAP, and upon application of such procedures, the Debtors believe that financial information could be subject to change that can be material. The Debtors, however, are not required to update this Monthly Operating Report to reflect more current facts or estimates, or upon the occurrences of future events, including if the facts, estimates, or assumptions upon which this Monthly Operating Report is based change. The information furnished in this Monthly Operating Report includes preliminary normal recurring adjustments.
There can be no assurance that the consolidated financial information presented in this Monthly Operating Report is complete, and readers are strongly cautioned not to place reliance on this Monthly Operating Report, which was not prepared for the purpose of providing the basis for an investment decision relating to any of the securities of the Debtors.
The results of operations contained in this Monthly Operating Report are not necessarily indicative of results that may be expected from any other period or for the full year and may not necessarily reflect operations, financial position, or cash flows of the Debtors in the future. The Debtors do not make any representation to any person regarding the Debtors’ future results.
The information contained herein is provided to fulfill the requirements of the Office of the United States Trustee.
Fiscal Year: The Company operates and reports using a 4-4-5 fiscal year which always ends on December 31
Intercompany Transactions: Intercompany transactions between the Debtors and non-debtor affiliates have not been eliminated in the financial statement contained in this Monthly Operating Report. No conclusion as to the legal obligation related to these intercompany transactions is made by the presentation herein.
Revenue Recognition: Revenue is recognized for all sales, including sales to distributors, at the time the products are shipped and title has transferred to the customer, provided that a purchase order has been received or a contract has been executed, there are no uncertainties regarding customer acceptances, the sale price is fixed and determinable and collection is deemed probable. The operating Debtors’ standard shipping terms are FOB shipping point. Sales are net of provisions for returns, discounts, customer allowances (such as volume rebates) and cooperative advertising allowances. The Debtors’ sales arrangements do not typically contain standard right of return provisions or limit returns at a certain percentage of sales price or margin; however, in certain instances where a product may be returned, the Debtors recognize revenue only if all of the following conditions are met: a) the sale price is substantially fixed or determinable at date of sale; b) buyer has either paid or is obligated to pay the seller and the obligation is not contingent on resale of the product; c) buyer’s obligation to seller would not be changed in the event of theft or physical destruction of the product; d) buyer has economic substance apart from the seller; e) seller does not have significant obligations for future performance to directly bring about the resale of product by the buyer; and f) the amount of future returns can be reasonably estimated (i.e., defective/wrong products). The Debtors record discounts, customer allowances and cooperative advertising allowances as reductions of revenue, provisions for which are estimated on a periodic basis based on historic experience.
Accounts Receivable and Allowance for Doubtful Accounts: Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The Debtors do not require collateral to secure accounts receivable. The allowance for doubtful accounts is the Debtors’ best estimate of the amounts of probable credit losses in their existing accounts receivable. The Debtors determine the allowance, in part, based on its historical write-off experience. The Debtors review their allowance for doubtful accounts quarterly, which includes a review of past due balances over 30 days. All other balances are reviewed on a pooled basis by market distribution channels. Account balances are charged off against the allowance when the Debtors determine it is probable the receivable will not be recovered. The Debtors do not have any off-balance-sheet credit exposure related to its customers.
Inventories: Inventories are stated at the lower of (i) cost or (ii) market value, and reserves are established for excess and obsolete inventory in order to ensure proper valuation of inventories. Inventoried costs include materials, labor and overhead. Approximately 67% the Debtors’ inventories were accounted for using the last-in, first-out (“LIFO”) method of costing, while the remaining inventories were accounted for using the first-in, first-out (“FIFO”) method. Current cost, as determined using the FIFO method, exceeded LIFO cost by $3.0 million.
Liabilities: As a result of the chapter 11 filings, the payment of prepetition indebtedness is subject to compromise or other treatment under a plan of reorganization or liquidation, as the case may be. The determination of how liabilities will ultimately be settled or treated cannot be made until the Bankruptcy Court approves a chapter 11 plan of reorganization or liquidation. Accordingly, the ultimate amount of such liabilities is not determinable at this time.
Reorganization Items: ASC 852 requires expenses and income directly associated with chapter 11 filings to be reported separately in the income statement as reorganization items. Reorganization items include expenses related to legal advisory and representation services, other professional consulting and advisory services, debtor in possession financing fees and changes in liabilities subject to compromise recognized as there are changes in amounts expected to be allowed as claims.
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: Katy Industries, Inc., et al. | Case No. 17-11101 (KJC) |
Debtors | Reporting Period: Petition Date to May 26, 2017 |
CONSOLIDATED SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
LEGAL ENTITIES
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| Continental |
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| |||||
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| Katy |
| Commercial |
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| Cumulative |
| |||||
|
| Industries, |
| Products, |
| Fort Wayne |
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| from the |
| |||||
|
| Inc |
| LLC |
| Plastics, Inc |
| Total |
| Petition Date |
| |||||
CASH BEGINNING OF MONTH |
| $ | — |
| $ | 1,970,075 |
| $ | 34,898 |
| $ | 2,004,973 |
| $ | 2,004,973 |
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| |||||
RECEIPTS |
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|
|
| |||||
COLLECTIONS OF ACCOUNTS RECEIVABLE |
| $ | — |
| $ | 2,305,132 |
| $ | 240,421 |
| $ | 2,545,553 |
| $ | 2,545,553 |
|
DIP LOAN PROCEEDS |
| 4,312,500 |
|
|
| 0 |
| 4,312,500 |
| 4,312,500 |
| |||||
INTER-COMPANY CASH TRANSFERS |
| (1,275,000 | ) | 1,275,000 |
|
|
| 0 |
| 0 |
| |||||
CASH COLLATERAL PROCEEDS |
| 0 |
| 825,000 |
| 0 |
| 825,000 |
| 825,000 |
| |||||
SALE OF ASSETS |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| |||||
OTHER (ATTACH LIST) |
| 122 |
| 0 |
| 0 |
| 122 |
| 122 |
| |||||
TRANSFERS FROM/(TO) DIP ACCTS |
| 0 |
|
|
| 0 |
| 0 |
| 0 |
| |||||
TRANSFERS TO/(FROM) CCP |
| 4,220 |
| (16,051 | ) | 10,067 |
| (1,764 | ) | (1,764 | ) | |||||
TOTAL RECEIPTS |
| $ | 3,041,842 |
| $ | 4,389,081 |
| $ | 250,488 |
| $ | 7,681,411 |
| $ | 7,681,411 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
DISBURSEMENTS |
|
|
|
|
|
|
|
|
|
|
| |||||
INVENTORY & COMPONENTS |
| $ | — |
| $ | 998,907 |
| $ | 33,991 |
| $ | 1,032,899 |
| $ | 1,032,899 |
|
PAYROLL & TAXES |
| 0 |
| 484,712 |
| 0 |
| 484,712 |
| 484,712 |
| |||||
TEMPORARY SERVICES |
| 4,220 |
| 2,474 |
| 14,003 |
| 20,696 |
| 20,696 |
| |||||
EMPLOYEE BENEFITS |
| 51,172 |
| 9,989 |
| 1,887 |
| 63,048 |
| 63,048 |
| |||||
RENTS |
| 0 |
| 10,674 |
| 0 |
| 10,674 |
| 10,674 |
| |||||
UTILITIES |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| |||||
FREIGHT & LOGISTICS |
| 0 |
| 124,933 |
| 0 |
| 124,933 |
| 124,933 |
| |||||
LEASES |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| |||||
COMMISSIONS |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| |||||
SUPPLIES & OTHER |
| 0 |
| 53,735 |
| 18,194 |
| 71,929 |
| 71,929 |
| |||||
GENERAL INSURANCE |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| |||||
OTHER |
| 0 |
| 9,000 |
| 0 |
| 9,000 |
| 9,000 |
| |||||
PRE-PETITION CLAIMS |
| 0 |
| 126,514 |
| 1,341 |
| 127,854 |
| 127,854 |
| |||||
INTEREST & FEES |
| 0 |
| 204,209 |
| 0 |
| 204,209 |
| 204,209 |
| |||||
TRANSFERS TO REVOLVING LOC |
| 0 |
| 2,228,340 |
| 177,132 |
| 2,405,472 |
| 2,405,472 |
| |||||
|
|
|
| 0 |
|
|
| 0 |
| 0 |
| |||||
|
| $ | 55,392 |
| $ | 4,253,486 |
| $ | 246,547 |
| $ | 4,555,426 |
| $ | 4,555,426 |
|
|
|
|
|
|
|
|
|
|
| 0 |
| |||||
PROFESSIONAL FEES-Schedule Attached |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| |||||
U.S. TRUSTEE QUARTERLY FEES |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| |||||
COURT COSTS |
| 0 |
| 0 |
| 0 |
| 0 |
|
|
| |||||
TOTAL DISBURSEMENTS |
| $ | 55,392 |
| $ | 4,253,486 |
| $ | 246,547 |
| $ | 4,555,426 |
| $ | 4,555,426 |
|
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|
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| |||||
NET CASH FLOW |
|
|
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|
|
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|
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| |||||
(RECEIPTS LESS DISBURSEMENTS) |
| $ | 2,986,450 |
| $ | 135,595 |
| $ | 3,941 |
| $ | 3,125,985 |
| $ | 3,125,985 |
|
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| |||||
CASH - END OF MONTH |
| $ | 2,986,450 |
| $ | 2,105,669 |
| $ | 38,839 |
| $ | 5,130,958 |
| $ | 5,130,958 |
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|
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| |||||
TOTAL DISBURSEMENTS |
|
|
|
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|
|
|
|
|
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| |||||
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS |
| $ | 4,555,426 |
|
|
| ||||||||||
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts) |
| (2,405,472 | ) |
|
| |||||||||||
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES |
| 0 |
|
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| |||||||||||
|
|
|
|
|
|
|
| $ | 2,149,953.83 |
|
|
| ||||
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: Katy Industries, Inc., et al . | Case No. 17-11101 (KJC) |
Debtors | Reporting Period: Petition Date to May 26, 2017 |
CONSOLIDATING SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
BANK |
| RABOBANK |
| BMO Harris |
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| |||||||||||||
ACCOUNT NO |
| 1166 |
| 1167 |
| 1168 |
| 9460 |
| 8357 |
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| Professional Fee |
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| Accounts |
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ACCOUNT NAME |
| Escrow |
| DIP Account |
| Utility Escrow |
| UMR Insurance |
| Payable |
| Total |
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| |||||||
CASH BEGINNING OF MONTH |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
|
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| |
|
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RECEIPTS |
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| |||||||
COLLECTIONS OF ACCOUNTS RECEIVABLE |
|
|
|
|
|
|
|
|
|
|
| 0 |
|
|
| |||||||
DIP LOAN PROCEEDS |
|
|
| 4,312,500 |
|
|
|
|
|
|
| 4,312,500 |
|
|
| |||||||
CASH COLLATERAL PROCEEDS |
|
|
|
|
|
|
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| 0 |
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| |||||||
SALE OF ASSETS |
|
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|
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|
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| 0 |
|
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| |||||||
OTHER (ATTACH LIST) |
|
|
|
|
|
|
| 122 |
|
|
| 122.20 |
|
|
| |||||||
TRANSFERS FROM CCP |
|
|
|
|
|
|
|
|
| 4,219.74 |
| 4,219.74 |
|
|
| |||||||
TRANSFERS FROM/(TO) DIP ACCTS |
| 470,000 |
| (620,000 | ) | 150,000 |
|
|
|
|
| 0 |
|
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| |||||||
|
|
|
|
|
|
|
|
|
|
|
| 0 |
|
|
| |||||||
TOTAL RECEIPTS |
| $ | 470,000 |
| $ | 3,692,500 |
| $ | 150,000 |
| $ | 122 |
| $ | 4,219.74 |
| $ | 4,316,842 |
|
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| |
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| |||||||
DISBURSEMENTS |
|
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|
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|
|
|
|
|
|
|
|
|
| |||||||
INVENTORY & COMPONENTS |
|
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|
|
| 0.00 |
|
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| |||||||
PAYROLL & TAXES |
|
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|
|
|
|
|
|
|
|
| 0 |
|
|
| |||||||
TEMPORARY SERVICES |
|
|
|
|
|
|
|
|
| 4,219.74 |
| 4,220 |
|
|
| |||||||
EMPLOYEE BENEFITS |
|
|
|
|
|
|
| 51,172 |
|
|
| 51,172 |
|
|
| |||||||
RENTS |
|
|
|
|
|
|
|
|
|
|
| 0 |
|
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| |||||||
UTILITIES |
|
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|
|
|
|
|
|
|
|
| 0 |
|
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| |||||||
FREIGHT & LOGISTICS |
|
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|
|
|
|
|
|
|
| 0 |
|
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| |||||||
LEASES |
|
|
|
|
|
|
|
|
|
|
| 0 |
|
|
| |||||||
COMMISSIONS |
|
|
|
|
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|
|
|
|
|
| 0 |
|
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| |||||||
SUPPLIES & OTHER |
|
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|
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|
|
| 0 |
|
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| |||||||
GENERAL INSURANCE |
|
|
|
|
|
|
|
|
|
|
| 0 |
|
|
| |||||||
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
|
|
| 0 |
|
|
| |||||||
PRE-PETITION CLAIMS |
|
|
|
|
|
|
|
|
|
|
| 0 |
|
|
| |||||||
INTEREST & FEES |
|
|
|
|
|
|
|
|
|
|
| 0 |
|
|
| |||||||
TRANSFERS REVOLVING LOC |
|
|
|
|
|
|
|
|
|
|
| 0 |
|
|
| |||||||
|
|
|
| 1,275,000 |
|
|
|
|
|
|
| 1,275,000 |
|
|
| |||||||
|
| $ | — |
| $ | 1,275,000 |
| $ | — |
| $ | 51,172 |
| $ | 4,220 |
| $ | 1,330,392 |
|
|
| |
|
|
|
|
|
|
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|
|
|
|
|
|
|
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| |||||||
PROFESSIONAL FEES-Schedule Attached |
|
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|
|
|
|
|
|
|
|
| 0 |
|
|
| |||||||
U.S. TRUSTEE QUARTERLY FEES |
|
|
|
|
|
|
|
|
|
|
| 0 |
|
|
| |||||||
COURT COSTS |
|
|
|
|
|
|
|
|
|
|
| 0 |
|
|
| |||||||
TOTAL DISBURSEMENTS |
| $ | — |
| $ | 1,275,000 |
| $ | — |
| $ | 51,172 |
| $ | 4,220 |
| $ | 1,330,392 |
|
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| |
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| |||||||
NET CASH FLOW |
|
|
|
|
|
|
|
|
|
|
|
|
|
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| |||||||
(RECEIPTS LESS DISBURSEMENTS) |
| $ | 470,000 |
| $ | 2,417,500 |
| $ | 150,000 |
| $ | (51,050 | ) | $ | — |
| $ | 2,986,450 |
|
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| |
|
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| |||||||
|
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| |||||||
CASH - END OF MONTH |
| $ | 470,000 |
| $ | 2,417,500 |
| $ | 150,000 |
| $ | (51,050 | ) | $ | — |
| $ | 2,986,450 |
| $ | — |
|
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: Katy Industries, Inc., et al . | Case No. 17-11101 (KJC) |
Debtors | Reporting Period: Petition Date to May 26, 2017 |
CONSOLIDATING SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
BANK |
| BMO Harris |
|
|
|
|
| ||||||||||||||||||
ACCOUNT NO |
| 8892 |
| 8224 |
| 2407 |
| 8918 |
| 9394 |
| 9386 |
|
|
|
|
| ||||||||
|
|
|
|
|
|
|
| CCP Account |
| CENTREX |
|
|
|
|
|
|
| ||||||||
ACCOUNT NAME |
| Lockbox |
| Operating |
| Cash Collateral |
| Payable |
| Accounts Payable |
| Payroll |
| Total |
|
|
| ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
CASH BEGINNING OF MONTH |
| $ | 331,295 |
| $ | 171,788 |
| $ | 1,466,991 |
| $ | — |
| $ | — |
| $ | — |
| $ | 1,970,075 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
RECEIPTS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
COLLECTIONS OF ACCOUNTS RECEIVABLE |
| $ | 2,305,132 |
|
|
|
|
|
|
|
|
|
|
| 2,305,132 |
|
|
| |||||||
TRANSFERS FROM DIP ACCOUNT |
|
|
| 1,275,000 |
|
|
|
|
|
|
|
|
| 1,275,000 |
|
|
| ||||||||
CASH COLLATERAL PROCEEDS |
|
|
| 825,000 |
|
|
|
|
|
|
|
|
| 825,000 |
|
|
| ||||||||
SALE OF ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
| 0 |
|
|
| ||||||||
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
|
|
|
|
| 0 |
|
|
| ||||||||
FUNDS TRANSFER |
|
|
| (1,417,152 | ) |
|
| 1,024,198 |
|
|
| 78,214 |
| (16,051 | ) |
|
| ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| 0 |
|
|
| ||||||||
TOTAL RECEIPTS |
| $ | 2,305,132 |
| $ | 682,848 |
| $ | — |
| $ | 1,024,198 |
| $ | — |
| $ | 78,214 |
| $ | 4,389,081 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
DISBURSEMENTS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
INVENTORY & COMPONENTS |
|
|
| $ | 226,074 |
|
|
| $ | 772,833 |
|
|
|
|
| $ | 998,907 |
|
|
| |||||
PAYROLL & TAXES |
|
|
| 107,809 |
|
|
| 0 |
|
|
| 78,214 |
| 484,712 |
|
|
| ||||||||
TEMPORARY SERVICES |
|
|
|
|
|
|
| 2,474 |
|
|
|
|
| 2,474 |
|
|
| ||||||||
EMPLOYEE BENEFITS |
|
|
|
|
|
|
| 9,989 |
|
|
|
|
| 9,989 |
|
|
| ||||||||
RENTS |
|
|
|
|
|
|
| 10,674 |
|
|
|
|
| 10,674 |
|
|
| ||||||||
UTILITIES |
|
|
|
|
|
|
| 0 |
|
|
|
|
| 0 |
|
|
| ||||||||
FREIGHT & LOGISTICS |
|
|
|
|
|
|
| 124,933 |
|
|
|
|
| 124,933 |
|
|
| ||||||||
LEASES |
|
|
|
|
|
|
| 0 |
|
|
|
|
| 0 |
|
|
| ||||||||
COMMISSIONS |
|
|
|
|
|
|
| 0 |
|
|
|
|
| 0 |
|
|
| ||||||||
SUPPLIES & OTHER |
|
|
| 15,535 |
|
|
| 38,199 |
|
|
|
|
| 53,735 |
|
|
| ||||||||
GENERAL INSURANCE |
|
|
|
|
|
|
|
|
|
|
|
|
| 0 |
|
|
| ||||||||
OTHER (ATTACH LIST) |
|
|
| 9,000 |
|
|
|
|
|
|
|
|
| 9,000 |
|
|
| ||||||||
PRE-PETITION CLAIMS |
|
|
|
|
|
|
| 126,514 |
|
|
|
|
| 126,514 |
|
|
| ||||||||
INTEREST & FEES |
|
|
| 204,209 |
|
|
|
|
|
|
|
|
| 204,209 |
|
|
| ||||||||
TRANSFERS REVOLVING LOC |
| 2,228,340 |
|
|
|
|
|
|
|
|
|
|
| 2,228,340 |
|
|
| ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| 0.00 |
|
|
| ||||||||
|
| $ | 2,228,340 |
| $ | 562,628 |
| $ | — |
| $ | 1,085,616 |
| $ | — |
| $ | 78,214 |
| $ | 4,253,486 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
PROFESSIONAL FEES-Schedule Attached |
|
|
|
|
|
|
|
|
|
|
|
|
| 0 |
|
|
| ||||||||
U.S. TRUSTEE QUARTERLY FEES |
|
|
|
|
|
|
|
|
|
|
|
|
| 0 |
|
|
| ||||||||
COURT COSTS |
|
|
|
|
|
|
|
|
|
|
|
|
| 0 |
|
|
| ||||||||
TOTAL DISBURSEMENTS |
| $ | 2,228,340 |
| $ | 562,628 |
| $ | — |
| $ | 1,085,616 |
| $ | — |
| $ | 78,214 |
| $ | 4,253,486 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
NET CASH FLOW |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
(RECEIPTS LESS DISBURSEMENTS) |
| $ | 76,792 |
| $ | 120,220 |
| $ | — |
| $ | (61,418 | ) | $ | — |
| $ | — |
| $ | 135,595 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
CASH - END OF MONTH |
| $ | 408,087 |
| $ | 292,008 |
| $ | 1,466,991 |
| $ | (61,418 | ) | $ | — |
| $ | — |
| $ | 2,105,669 |
| $ | — |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
OTHER DISBURSEMENTS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Ordinary Course Professionals |
|
|
| $ | 9,000 |
|
|
|
|
|
|
|
|
| $ | 9,000 |
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
|
| $ | — |
| $ | 9,000.00 |
|
|
| $ | — |
| $ | — |
| $ | — |
| $ | 9,000 |
|
|
| ||
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: Katy Industries, Inc., et al | Case No. 17-11101 (KJC) |
Debtors | Reporting Period: Petition Date to May 26, 2017 |
CONSOLIDATING SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
BANK |
| BMO Harris |
|
|
|
|
| ||||||||||||
ACCOUNT NO |
| 1654 |
|
|
| 1639 |
| 1670 |
|
|
|
|
| ||||||
|
|
|
|
|
|
|
| Account |
|
|
|
|
| ||||||
ACCOUNT NAME |
| Lockbox |
| Petty Cash |
| Operating |
| Payable |
| Total |
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
CASH BEGINNING OF MONTH |
| $ | 34,000 |
| $ | 899 |
| $ | — |
| $ | — |
| $ | 34,898 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
RECEIPTS |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
COLLECTIONS OF ACCOUNTS RECEIVABLE |
| $ | 240,421 |
|
|
|
|
|
|
| $ | 240,421 |
|
|
| ||||
DIP LOAN PROCEEDS |
|
|
|
|
|
|
|
|
| 0 |
|
|
| ||||||
CASH COLLATERAL PROCEEDS |
|
|
|
|
|
|
|
|
| 0 |
|
|
| ||||||
SALE OF ASSETS |
|
|
|
|
|
|
|
|
| 0 |
|
|
| ||||||
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| 0 |
|
|
| ||||||
TRANSFERS FROM/(TO) OPERATING ACCT |
|
|
|
|
| (10,067 | ) | 10,067 |
| 0 |
|
|
| ||||||
TRANSFERS FROM CCP |
|
|
|
|
| 10,067 |
|
|
| 10,067 |
|
|
| ||||||
TOTAL RECEIPTS |
| 240,421 |
| 0 |
| 0 |
| 10,067 |
| $ | 250,488.31 |
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
DISBURSEMENTS |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
INVENTORY & COMPONENTS |
|
|
|
|
|
|
| $ | 33,991 |
| $ | 33,991 |
|
|
| ||||
PAYROLL & TAXES |
|
|
|
|
|
|
| 0 |
| 0 |
|
|
| ||||||
TEMPORARY SERVICES |
|
|
|
|
|
|
| 14,003 |
| 14,003 |
|
|
| ||||||
EMPLOYEE BENEFITS |
|
|
|
|
|
|
| 1,887 |
| 1,887 |
|
|
| ||||||
RENTS |
|
|
|
|
|
|
|
|
| 0 |
|
|
| ||||||
UTILITIES |
|
|
|
|
|
|
|
|
| 0 |
|
|
| ||||||
FREIGHT & LOGISTICS |
|
|
|
|
|
|
|
|
| 0 |
|
|
| ||||||
LEASES |
|
|
|
|
|
|
|
|
| 0 |
|
|
| ||||||
COMMISSIONS |
|
|
|
|
|
|
|
|
| 0 |
|
|
| ||||||
SUPPLIES & OTHER |
|
|
|
|
|
|
| 18,194 |
| 18,194 |
|
|
| ||||||
GENERAL INSURANCE |
|
|
|
|
|
|
|
|
| 0 |
|
|
| ||||||
OTHER (ATTACH LIST) |
|
|
|
|
|
|
|
|
| 0 |
|
|
| ||||||
PRE-PETITION CLAIMS |
|
|
|
|
|
|
| 1,341 |
| 1,341 |
|
|
| ||||||
INTEREST & FEES |
|
|
|
|
|
|
|
|
| 0 |
|
|
| ||||||
TRANSFERS REVOLVING LOC |
| 177,132 |
|
|
|
|
|
|
| 177,132 |
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
| $ | 177,132 |
| $ | — |
| $ | — |
| $ | 69,416 |
| $ | 246,547 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
PROFESSIONAL FEES-Schedule Attached |
|
|
|
|
|
|
|
|
| 0 |
|
|
| ||||||
U.S. TRUSTEE QUARTERLY FEES |
|
|
|
|
|
|
|
|
| 0 |
|
|
| ||||||
COURT COSTS |
|
|
|
|
|
|
|
|
| 0 |
|
|
| ||||||
TOTAL DISBURSEMENTS |
| $ | 177,132 |
| $ | — |
| $ | — |
| $ | 69,416 |
| $ | 246,547 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
NET CASH FLOW |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
(RECEIPTS LESS DISBURSEMENTS) |
| $ | 63,289 |
| $ | — |
| $ | — |
| $ | (59,348 | ) | $ | 3,941 |
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
CASH - END OF MONTH |
| $ | 97,289 |
| $ | 899 |
| $ | — |
| $ | (59,348 | ) | $ | 38,839 |
| $ | — |
|
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: Katy Industries, Inc., et al. | Case No. 17-11101 (KJC) |
Debtors | Reporting Period: Petition Date to May 26, 2017 |
DECLARATION REGARDING THE STATUS OF BANK RECONCILIATIONS OF THE DEBTORS
Robert W. Zimmer hereby declares under penalty of perjury:
1. |
| I am the Chief Financial Officer of Katy Industries, Inc., one of the debtors in these chapter 11 cases (the “Debtors”). In that capacity, I am familiar with the day-to-day operations, business affairs, and books and records of the Debtors. I am authorized to submit this Declaration on behalf of the Debtors. | |
|
|
| |
2. |
| All statements in the Declaration are based on my personal knowledge, my review of the relevant documents, my discussions with other employees of the Debtors, or my opinion based upon my experience and knowledge of the Debtors’ operations and financial condition. If I were called upon to testify, I could and would testify to each of the facts set forth based on such personal knowledge, review of documents, discussions with other employees of the Debtors, or opinion. | |
|
|
| |
3. |
| To the best of my knowledge, the Debtors’ bank balances as of May 27, 2017, have been reconciled in an accurate and timely manner. | |
|
|
| |
|
|
| |
Dated: June 30, 2017 |
| Respectfully submitted, | |
|
|
| |
|
| /s/ Robert W. Zimmer |
|
|
| By: Robert W. Zimmer | |
|
| Title: Chief Financial Officer | |
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: Katy Industries, Inc., et al. |
| Case No.��17-11101 (JKC) | |
| Debtors |
| Reporting Period: Petition Date to May 26, 2017 |
SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID
This schedule is to include all retained professional payments from case inception to current month.
|
|
|
|
|
|
|
| Check |
| Amount Paid |
|
|
| |||||||
Payee |
| Period Covered |
| Amount Approved |
| Payor |
| Number |
| Date |
| Fees |
| Expenses |
| Expenses |
| |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
DLA Piper LLP |
|
|
|
|
| Katy Industries, Inc |
|
|
|
|
| $ | — |
| $ | — |
| $ | — |
|
Lincoln International LLC |
|
|
|
|
| Katy Industries, Inc |
|
|
|
|
| $ | — |
| $ | — |
| $ | — |
|
SierraConstellation Partners LLC |
|
|
|
|
| Katy Industries, Inc |
|
|
|
|
| 0 |
| $ | — |
| $ | — |
| |
Sitrick and Company |
|
|
|
|
| Katy Industries, Inc |
|
|
|
|
| 0 |
| $ | — |
| $ | — |
| |
JND Corporate Restructuring |
|
|
|
|
| Katy Industries, Inc |
|
|
|
|
| 0 |
| $ | — |
| $ | — |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
|
|
|
|
|
|
|
|
|
|
|
| 0 |
| $ | — |
| $ | — |
| |
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: Katy Industries, Inc., et al . |
| Case No. 17-11101 (JKC) | |
| Debtors |
| Reporting Period: Petition Date to May 26, 2017 |
Schedule of Bank Reconciliations
|
|
|
|
|
|
|
|
|
| Less - |
|
|
|
|
| ||||
|
|
|
| Account |
|
|
| Balance per |
| Outstanding |
|
|
| Balance per |
| ||||
Company |
| Bank |
| Number |
| Account Name |
| Bank |
| Checks |
| Amount |
| General Ledger |
| ||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
Katy Industries, Inc. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
|
|
|
|
| Professional Fee |
|
|
|
|
|
|
|
|
| ||||
|
| Rabobank |
| 1166 |
| Escrow |
| $ | 470,000 |
|
|
|
|
| $ | 470,000 |
| ||
|
| Rabobank |
| 1167 |
| DIP Account |
| 2,417,500 |
|
|
|
|
| 2,417,500 |
| ||||
|
| Rabobank |
| 1168 |
| Utility Escrow |
| 150,000 |
|
|
|
|
| 150,000 |
| ||||
|
|
|
|
|
|
|
| $ | 3,037,500 |
| $ | — |
| $ | — |
| $ | 3,037,500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
| BMO Harris |
| 9460 |
| UMR Insurance |
| 122 |
| (51,050 | ) | (122 | ) | (51,050 | ) | ||||
|
| BMO Harris |
| 8357 |
| Accounts Payable |
| 0 |
| 0 |
|
|
| 0 |
| ||||
|
|
|
|
|
|
|
| $ | 122 |
| $ | (51,050 | ) | $ | (122 | ) | $ | (51,050 | ) |
|
|
|
|
|
|
|
| $ | 3,037,622 |
| $ | (51,050 | ) | $ | (122 | ) | $ | 2,986,450 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
Continental Commercial Products, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
| BMO Harris |
| 8224 |
| Operating Account |
| $ | 292,008 |
|
|
|
|
| $ | 292,008 |
| ||
|
| BMO Harris |
| 2407 |
| Cash Collateral |
| 1,466,991 |
|
|
|
|
| 1,466,991 |
| ||||
|
| BMO Harris |
| 8892 |
| Lockbox |
| 408,087 |
|
|
|
|
| 408,087 |
| ||||
|
| BMO Harris |
| 8918 |
| Accounts Payable |
| 0 |
| (61,418 | ) |
|
| (61,418 | ) | ||||
|
| BMO Harris |
| 9386 |
| Payroll |
| 0 |
|
|
|
|
| 0 |
| ||||
|
| BMO Harris |
| 9394 |
| Accounts Payable |
| 0 |
|
|
|
|
| 0 |
| ||||
|
| BMO Harris |
| 9452 |
| Payroll |
| 0 |
|
|
|
|
| 0 |
| ||||
|
|
|
|
|
|
|
| $ | 2,167,087 |
| $ | (61,418 | ) | $ | — |
| $ | 2,105,669 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
Fort Wayne Plastics, Inc |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
| BMO Harris |
| 1639 |
| Operating Account |
| $ | — |
|
|
|
|
| $ | — |
| ||
|
| BMO Harris |
| 1654 |
| Lockbox |
| 97,289 |
|
|
|
|
| 97,289 |
| ||||
|
| BMO Harris |
| 1670 |
| Accounts Payable |
| 0 |
| (59,348 | ) |
|
| (59,348 | ) | ||||
|
| Petty Cash |
|
|
|
|
| 899 |
|
|
|
|
| 899 |
| ||||
|
|
|
|
|
|
|
| $ | 98,187 |
| $ | (59,348 | ) | $ | — |
| $ | 38,839 |
|
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: Katy Industries, Inc., et al . |
| Case No. 17-11101 (KJC) |
Debtors |
| Reporting Period: Petition Date to May 26, 2017 |
CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited)
|
|
|
| Cumulative |
| ||
|
| Period |
| Filing to Date |
| ||
REVENUES |
|
|
|
|
|
|
|
Net sales |
| $ | 2,571,565 |
| $ | 2,571,565 |
|
Cost of Goods Sold |
| 2,427,665 |
| 2,427,665 |
| ||
Gross Margin |
| $ | 143,900 |
| $ | 143,900 |
|
Selling & Administration |
|
|
|
|
| ||
Selling Expenses |
| $ | 150,642 |
| $ | 150,642 |
|
Administrative Expenses |
| 477,442 |
| 477,442 |
| ||
Total Selling & Administrative Expense |
| $ | 628,084 |
| $ | 628,084 |
|
Operating Profit/(Loss) |
| $ | (484,184 | ) | $ | (484,184 | ) |
Non-operating (Income)/expense |
|
|
|
|
| ||
Interest Expense |
| $ | 512,890 |
| $ | 512,890 |
|
Interest Income |
| 0 |
| 0 |
| ||
Other (Income)/Expense |
| (4,702 | ) | (4,702 | ) | ||
Total non-operating |
| $ | 508,188 |
| $ | 508,188 |
|
Net Profit (Loss) Before Reorganization Items |
| $ | (992,372 | ) | $ | (992,372 | ) |
REORGANIZATION ITEMS |
|
|
|
|
| ||
Professional Fees |
| $ | — |
| $ | — |
|
U. S. Trustee Quarterly Fees |
| 0 |
| 0 |
| ||
Gain (Loss) from Sale of Equipment |
| 0 |
| 0 |
| ||
Other Reorganization Expenses |
| 52,940 |
| 52,940 |
| ||
Total Reorganization Expenses |
| $ | 52,940 |
| $ | 52,940 |
|
Income Taxes |
| 0 |
| 0 |
| ||
Net Income/(Loss) |
| $ | (1,045,312 | ) | $ | (1,045,312 | ) |
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: Katy Industries, Inc., et al . | Case No. 17-11101 (KJC) |
Debtors | Reporting Period: Petition Date to May 26, 2017 |
CONSOLIDATING STATEMENT OF OPERATIONS (Unaudited)
|
|
|
|
|
| 17-11101 |
| 17-11102 |
| See MOR-2b |
| |||||
|
|
|
|
|
|
|
| Continental |
| Consolidated Fort |
| |||||
|
|
|
|
|
| Katy Industries, |
| Commercial |
| Wayne Holdings, |
| |||||
Case No: |
| Consolidated |
| Eliminations |
| Inc |
| Products, LLC |
| Inc |
| |||||
REVENUES |
|
|
|
|
|
|
|
|
|
|
| |||||
Net Sales |
| $ | 2,571,565 |
| $ | (106,567 | ) | $ | — |
| $ | 2,362,406 |
| $ | 315,726 |
|
Cost of Goods Sold |
| 2,427,665 |
| (106,567 | ) |
|
| 2,305,242 |
| 228,990 |
| |||||
Gross Margin |
| $ | 143,900 |
| $ | — |
| $ | — |
| $ | 57,164 |
| $ | 86,736 |
|
Selling & Administration |
|
|
|
|
|
|
|
|
|
|
| |||||
Selling expense |
| $ | 150,642 |
|
|
|
|
| $ | 148,044 |
| $ | 2,598 |
| ||
Administrative Expense |
| 477,442 |
|
|
| 139,134 |
| 299,828 |
| 38,480 |
| |||||
Total Selling & Administrative Expense |
| $ | 628,084 |
| $ | — |
| $ | 139,134 |
| $ | 447,872 |
| $ | 41,078 |
|
Operating Profit/(Loss) |
| $ | (484,184 | ) | $ | — |
| $ | (139,134 | ) | $ | (390,708 | ) | $ | 45,658 |
|
Non-operating (Income)/expense |
|
|
|
|
|
|
|
|
|
|
| |||||
Interest Expense |
| $ | 512,890 |
|
|
|
|
| $ | 512,890 |
| $ | — |
| ||
Interest Income |
| 0 |
|
|
|
|
|
|
| 0 |
| |||||
Other (Income)/Expense |
| (4,702 | ) |
|
|
|
| (4,702 | ) | 0 |
| |||||
Total non-operating |
| 508,188 |
| 0 |
| 0 |
| 508,188 |
| $ | — |
| ||||
Net Profit (Loss) Before Reorganization Items |
| $ | (992,372 | ) | $ | — |
| $ | (139,134 | ) | $ | (898,896 | ) | $ | 45,658 |
|
REORGANIZATION ITEMS |
|
|
|
|
|
|
|
|
|
|
| |||||
Professional Fees |
| $ | — |
|
|
|
|
|
|
| $ | — |
| |||
U. S. Trustee Quarterly Fees |
| 0 |
|
|
|
|
|
|
| 0 |
| |||||
Gain (Loss) from Sale of Equipment |
| 0 |
|
|
|
|
|
|
| 0 |
| |||||
Other Reorganization Expenses |
| 52,940 |
|
|
| 50,000 |
| 2,940 |
| 0 |
| |||||
Total Reorganization Expenses |
| $ | 52,940 |
| $ | — |
| $ | 50,000 |
| $ | 2,940 |
| $ | — |
|
Income Taxes |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| |||||
Net Income/(Loss) |
| $ | (1,045,312 | ) | $ | — |
| $ | (189,134 | ) | $ | (901,836 | ) | $ | 45,658 |
|
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: Katy Industries, Inc., et al . | Case No. 17-11101 (KJC) |
Debtors | Reporting Period: Petition Date to May 26, 2017 |
CONSOLIDATING STATEMENT OF OPERATIONS-FORT WAYNE HOLDINGS, Inc. & SUBSIDIARY
(Unaudited)
|
|
|
|
|
| 17-11103 |
| 17-11104 |
| ||||
|
| Consolidated Fort |
|
|
|
|
|
|
| ||||
|
| Wayne Holdings, |
|
|
| Fort Wayne |
| Fort Wayne |
| ||||
Case No: |
| Inc |
| Eliminations |
| Holdings, Inc. |
| Plastics, Inc. |
| ||||
REVENUES |
|
|
|
|
|
|
|
|
| ||||
Net Sales |
| $ | 315,726 |
| $ | — |
| $ | — |
| $ | 315,726 |
|
Cost of Sales |
| 228,990 |
| 0 |
| 0 |
| 228,990 |
| ||||
Gross Margin |
| $ | 86,736 |
| $ | — |
| $ | — |
| $ | 86,736 |
|
Selling & Administration |
|
|
|
|
|
|
|
|
| ||||
Selling Expense |
| $ | 2,598 |
|
|
|
|
| $ | 2,598 |
| ||
Administrative Expense |
| 38,480 |
|
|
|
|
| 38,480 |
| ||||
Total Selling & Administrative Expense |
| $ | 41,078 |
| $ | — |
| $ | — |
| $ | 41,078 |
|
Operating Profit/(Loss) |
| $ | 45,658 |
| $ | — |
| $ | — |
| $ | 45,658 |
|
Non-operating (Income)/expense |
|
|
|
|
|
|
|
|
| ||||
Interest Expense |
| $ | — |
|
|
|
|
|
|
| |||
Interest Income |
| 0 |
|
|
|
|
|
|
| ||||
Other (Income)/Expense |
| 0 |
|
|
|
|
|
|
| ||||
Total non-operating |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
|
Net Profit (Loss) Before Reorganization Items |
| $ | 45,658 |
| $ | — |
| $ | — |
| $ | 45,658 |
|
REORGANIZATION ITEMS |
|
|
|
|
|
|
|
|
| ||||
Professional Fees |
| $ | — |
|
|
|
|
|
|
| |||
U. S. Trustee Quarterly Fees |
| 0 |
|
|
|
|
|
|
| ||||
Gain (Loss) from Sale of Equipment |
| 0 |
|
|
|
|
|
|
| ||||
Other Reorganization Expenses |
| 0 |
|
|
|
|
|
|
| ||||
Total Reorganization Expenses |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
|
Income Taxes |
| 0 |
| 0 |
| 0 |
| 0 |
| ||||
Net Income/(Loss) |
| $ | 45,658 |
| $ | — |
| $ | — |
| $ | 45,658 |
|
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: Katy Industries, Inc., et al . | Case No. 17-11101 (KJC) |
Debtors | Reporting Period: Petition Date to May 26, 2017 |
CONSOLIDATING STATEMENT OF OPERATIONS-INACTIVE SUBSIDIARIES (Unaudited)
|
|
|
| 17-11105 |
| 17-11106 |
| 17-11107 |
| 17-11108 |
| 17-11109 |
| 17-11110 |
| 17-11111 |
| 17-11112 |
| 17-11113 |
| 17-11114 |
| |||||||||||
Case No: |
| Inactive |
| Wabash |
| Katy Teweh, |
| Wll, Inc. |
| TTI, Holdings |
| GCW, Inc. |
| Hermann |
| American |
| WP |
| Ashford |
| HPMI, Inc. |
| |||||||||||
REVENUES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Net Sales |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
|
COST OF GOODS SOLD |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Cost of Sales |
| 0 |
| 0 |
| 0 |
| 0 |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| ||||
Gross Margin |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
|
Selling & Administration |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Selling Expense |
| $ | — |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Administrative Expense |
| 0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Selling & Administrative Expense |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
|
Operating Profit/(Loss) |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
|
Non-operating (Income)/expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Interest Expense |
| $ | — |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Interest Income |
| 0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Other (Income)/Expense |
| 0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Total non-operating |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
|
Net Profit (Loss) Before Reorganization Items |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
|
REORGANIZATION ITEMS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Professional Fees |
| $ | — |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
U.S. Trustee Quarterly Fees |
| 0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Gain (Loss) from Sale of Equipment |
| 0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Other Reorganization Expenses |
| 0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Reorganization Expenses |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
|
Income Taxes |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| |||||||||||
Net Income/(Loss) |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
|
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: Katy Industries, Inc., et al. | Case No. 17-11101 (KJC) |
Debtors | Reporting Period: Petition Date to May 26, 2017 |
CONSOLIDATED BALANCE SHEET (Unaudited)
|
|
|
| Petition |
| ||
|
| 26-May-17 |
| Date |
| ||
ASSETS |
|
|
|
|
| ||
CURRENT ASSETS |
|
|
|
|
| ||
Unrestricted Cash and Equivalents |
| $ | 5,130,958 |
| $ | 2,004,972 |
|
Accounts Receivable (Net) |
| 7,437,144 |
| 7,879,871 |
| ||
Notes Receivable |
| 0 |
| 0 |
| ||
Inventories, net |
| 6,607,509 |
| 6,711,037 |
| ||
Prepaid Expenses |
| 1,192,726 |
| 414,869 |
| ||
Net Inter-company accounts |
| 216,918 |
| 174,499 |
| ||
Other Current Assets (attach schedule) |
| 681,341 |
| 580,435 |
| ||
TOTAL CURRENT ASSETS |
| $ | 21,266,596 |
| $ | 17,765,683 |
|
PROPERTY AND EQUIPMENT |
|
|
|
|
| ||
Land and improvements |
| $ | 285,129 |
| $ | 285,129 |
|
Buildings and improvements |
| 6,897,720 |
| 6,897,720 |
| ||
Machinery and equipment |
| 44,696,063 |
| 44,706,564 |
| ||
Less Accumulated Depreciation |
| (36,620,417 | ) | (36,533,567 | ) | ||
TOTAL PROPERTY & EQUIPMENT |
| $ | 15,258,495 |
| $ | 15,355,846 |
|
OTHER ASSETS |
|
|
|
|
| ||
Goodwill, net |
| $ | 24,284,326 |
| $ | 24,318,535 |
|
Lease Deposits |
| 200,449 |
| 200,449 |
| ||
Notes Receivable |
| 609,597 |
| 608,519 |
| ||
Other intangible assets, net |
| 7,906,749 |
| 7,785,688 |
| ||
Investment in unconsolidated subsidiaries |
| 18,966,005 |
| 18,966,005 |
| ||
TOTAL OTHER ASSETS |
| $ | 51,967,126 |
| $ | 51,879,196 |
|
TOTAL ASSETS |
| $ | 88,492,217 |
| $ | 85,000,725 |
|
LIABILITIES AND OWNER EQUITY |
|
|
|
|
| ||
LIABILITIES |
|
|
|
|
| ||
Current Liabilities |
|
|
|
|
| ||
Accounts Payable |
| $ | 21,820,754 |
| $ | 21,369,781 |
|
Accrued Expenses |
| 7,886,718 |
| 7,169,231 |
| ||
Accrued Compensation |
| 676,546 |
| 657,737 |
| ||
Accrued Interest |
| 122,528 |
| 52,885 |
| ||
TOTAL CURRENT LIABILITIES |
| $ | 30,506,546 |
| $ | 29,249,634 |
|
SECURED DEBT |
|
|
|
|
| ||
Revolver |
| $ | 16,146,834 |
| $ | 13,019,108 |
|
Senior Term Notes |
| 6,510,000 |
| 6,510,000 |
| ||
Subordinated Debt |
| 36,876,828 |
| 36,718,401 |
| ||
Capital Leases |
| 351,447 |
| 351,447 |
| ||
Shareholder Notes |
| 323,529 |
| 321,168 |
| ||
Total Secured Debt |
| $ | 60,208,638 |
| $ | 56,920,124 |
|
NON-CURRENT LIABILITIES |
|
|
|
|
| ||
Post retirement benefits |
| $ | 1,434,147 |
| $ | 1,203,156 |
|
Deferred Compensation |
| 502,414 |
| 499,624 |
| ||
Deferred taxes |
| 122,000 |
| 122,000 |
| ||
GAAP Lease Obligations |
| 5,600,708 |
| 5,843,111 |
| ||
TOTAL NON-CURRENT LIABILITIES |
| $ | 7,659,269 |
| $ | 7,667,891 |
|
TOTAL LIABILITIES |
| $ | 98,374,453 |
| $ | 93,837,649 |
|
|
|
|
|
|
| ||
SHAREHOLDERS EQUITY |
|
|
|
|
| ||
Convertible Preferred Stock |
| $ | 108,256,190 |
| $ | 108,256,190 |
|
Common Stock |
| 9,822,204 |
| 9,822,204 |
| ||
Additional Paid-In Capital |
| 31,148,825 |
| 31,148,825 |
| ||
Accumulated other comprehensive loss |
| (651,660 | ) | (651,660 | ) | ||
Retained Earnings - Pre-Petition |
| (135,975,781 | ) | (135,975,781 | ) | ||
Retained Earnings - Postpetition |
| (1,045,312 | ) | 0 |
| ||
Treasury Stock |
| (21,436,702 | ) | (21,436,702 | ) | ||
TOTAL SHAREHOLDERS EQUITY |
| $ | (9,882,236 | ) | $ | (8,836,924 | ) |
TOTAL LIABILITIES AND OWNERS’ EQUITY |
| $ | 88,492,217 |
| $ | 85,000,725 |
|
|
| 0 |
| 0 |
| ||
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: Katy Industries, Inc., et al. | Case No. 17-11101 (KJC) |
Debtors
CONSOLIDATING BALANCE SHEET (Unaudited)
As of May 26, 2017
|
|
|
|
|
| 17-11101 |
| 17-11102 |
| See MOR-3b |
| See MOR-3c |
| ||||||
|
|
|
|
|
|
|
| Continental |
| Consolidated Fort |
|
|
| ||||||
|
|
|
|
|
| Katy Industries, |
| Commercial |
| Wayne Holdings, |
| Inactive |
| ||||||
|
| Consolidated |
| Eliminations |
| Inc |
| Products, LLC |
| Inc |
| Subsidiaries |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Unrestricted Cash and Equivalents |
| $ | 5,130,958 |
|
|
| $ | 2,986,450 |
| $ | 2,105,669 |
| $ | 38,839 |
| $ | — |
| |
Accounts Receivable (Net) |
| 7,437,144 |
|
|
|
|
| 6,268,522 |
| 1,168,622 |
| 0 |
| ||||||
Notes Receivable |
| 0 |
|
|
|
|
|
|
| 0 |
| 0 |
| ||||||
Inventories, net |
| 6,607,509 |
|
|
|
|
| 5,093,802 |
| 1,513,707 |
| — |
| ||||||
Prepaid Expenses |
| 1,192,726 |
|
|
| 183,579 |
| 814,897 |
| 194,250 |
| — |
| ||||||
Net Inter-company accounts |
| 216,918 |
|
|
| (96,020,947 | ) | (40,651,670 | ) | 1,484,715 |
| 135,404,820 |
| ||||||
Other Current Assets (attach schedule) |
| 681,341 |
|
|
| 466,242 |
| 215,099 |
| 0 |
| — |
| ||||||
TOTAL CURRENT ASSETS |
| 21,266,596 |
| 0 |
| (92,384,676 | ) | (26,153,681 | ) | 4,400,133 |
| $ | 135,404,820 |
| |||||
PROPERTY AND EQUIPMENT |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Land and improvements |
| $ | 285,129 |
|
|
|
|
|
|
| $ | 285,129 |
| $ | — |
| |||
Buildings and improvements |
| 6,897,720 |
|
|
| 208,362 |
| 3,591,087 |
| 3,098,271 |
| 0 |
| ||||||
Machinery and equipment |
| 44,696,063 |
|
|
|
|
| 37,216,477 |
| 7,479,586 |
| — |
| ||||||
Less Accumulated Depreciation |
| (36,620,417 | ) |
|
| (51,549 | ) | (30,436,557 | ) | (6,132,311 | ) | — |
| ||||||
TOTAL PROPERTY & EQUIPMENT |
| $ | 15,258,495 |
| $ | — |
| $ | 156,813 |
| $ | 10,371,007 |
| $ | 4,730,675 |
| $ | — |
|
OTHER ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Goodwill, net |
| $ | 24,284,326 |
|
|
|
|
| $ | 21,728,322 |
| $ | 2,556,004 |
| $ | — |
| ||
Lease Deposits |
| 200,449 |
|
|
|
|
| 200,449 |
| 0 |
| — |
| ||||||
Notes Receivable |
| 609,597 |
|
|
|
|
| 609,597 |
| 0 |
| — |
| ||||||
Other intangible assets, net |
| 7,906,749 |
|
|
|
|
| 4,406,431 |
| 3,457,410 |
| 42,908 |
| ||||||
Investment in unconsolidated subsidiaries |
| 18,966,005 |
| (114,368,517 | ) | 120,385,855 |
| 12,948,667 |
| 0 |
| — |
| ||||||
TOTAL OTHER ASSETS |
| $ | 51,967,126 |
| $ | (114,368,517 | ) | $ | 120,385,855 |
| $ | 39,893,466 |
| $ | 6,013,414 |
| $ | 42,908 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
TOTAL ASSETS |
| $ | 88,492,217 |
| $ | (114,368,517 | ) | $ | 28,157,992 |
| $ | 24,110,792 |
| $ | 15,144,222 |
| $ | 135,447,728 |
|
LIABILITIES AND OWNER EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Current Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Accounts Payable |
| $ | 21,820,754 |
| $ | — |
| $ | 1,024,879 |
| $ | 18,282,688 |
| $ | 2,513,187 |
| $ | — |
|
Accrued Expenses |
| 7,886,718 |
|
|
| 3,983,676 |
| 3,478,629 |
| 28,336 |
| 396,077 |
| ||||||
Accrued Compensation |
| 676,546 |
|
|
| 84,930 |
| 466,510 |
| 125,106 |
| — |
| ||||||
Accrued Interest |
| 122,528 |
|
|
|
|
| 122,528 |
| — |
| — |
| ||||||
TOTAL CURRENT LIABILITIES |
| $ | 30,506,546 |
| $ | — |
| $ | 5,093,485 |
| $ | 22,350,355 |
| $ | 2,666,629 |
| $ | 396,077 |
|
Debt |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Revolver |
| $ | 16,146,834 |
|
|
|
|
| $ | 16,146,834 |
| $ | — |
| $ | — |
| ||
Senior Term Notes |
| 6,510,000 |
|
|
|
|
| 6,510,000 |
| 0 |
| 0 |
| ||||||
Subordinated Debt |
| 36,876,828 |
|
|
|
|
| 36,876,828 |
| — |
| — |
| ||||||
Capital Leases |
| 351,447 |
|
|
|
|
| 351,447 |
| — |
| — |
| ||||||
Shareholder Notes |
| 323,529 |
|
|
|
|
| 323,529 |
| — |
| — |
| ||||||
Total Debt |
| $ | 60,208,638 |
| $ | — |
| 0 |
| $ | 60,208,638 |
| $ | — |
| $ | — |
| |
NON-CURRENT LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Post retirement benefits |
| $ | 1,434,147 |
|
|
| $ | 1,046,935 |
|
|
| $ | — |
| 387,212 |
| |||
Deferred Compensation |
| 502,414 |
|
|
| 502,414 |
|
|
| — |
| — |
| ||||||
Deferred taxes |
| 122,000 |
|
|
| (2,317,507 | ) |
|
| 2,439,507 |
| — |
| ||||||
GAAP Lease Obligations |
| 5,600,708 |
|
|
|
|
| 5,600,708 |
| — |
| — |
| ||||||
TOTAL NON-CURRENT LIABILITIES |
| $ | 7,659,269 |
| $ | — |
| $ | (768,158 | ) | $ | 5,600,708 |
| $ | 2,439,507 |
| $ | 387,212 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES |
| $ | 98,374,453 |
| $ | — |
| $ | 4,325,327 |
| $ | 88,159,701 |
| $ | 5,106,136 |
| $ | 783,289 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Convertible Preferred Stock |
| $ | 108,256,190 |
| $ | (5,152,000 | ) | $ | 108,256,190 |
| $ | — |
| $ | — |
| $ | 5,152,000 |
|
Common Stock |
| 9,822,204 |
| (1,201,001 | ) | 9,822,204 |
| — |
| 1 |
| 1,201,000 |
| ||||||
Additional Paid-In Capital |
| 31,148,825 |
| (233,905,538 | ) | 31,148,825 |
| 165,188,290 |
| 10,774,275 |
| 57,942,973 |
| ||||||
Accumulated other comprehensive loss |
| (651,660 | ) |
|
| (80,944 | ) |
|
| — |
| (570,716 | ) | ||||||
Retained Earnings - Pre-Petition |
| (135,975,781 | ) | 125,890,022 |
| (103,687,774 | ) | (228,335,363 | ) | (781,848 | ) | 70,939,182 |
| ||||||
Retained Earnings - Postpetition |
| (1,045,312 | ) |
|
| (189,134 | ) | (901,836 | ) | 45,658 |
| — |
| ||||||
Treasury Stock |
| (21,436,702 | ) |
|
| (21,436,702 | ) |
|
| — |
| — |
| ||||||
TOTAL SHAREHOLDERS EQUITY |
| $ | (9,882,236 | ) | $ | (114,368,517 | ) | $ | 23,832,665 |
| $ | (64,048,909 | ) | $ | 10,038,086 |
| $ | 134,664,439 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
TOTAL LIABILITIES AND OWNERS’ EQUITY |
| $ | 88,492,217 |
| $ | (114,368,517 | ) | $ | 28,157,992 |
| $ | 24,110,792 |
| $ | 15,144,222 |
| $ | 135,447,728 |
|
|
| $ | (0 | ) | $ | — |
| $ | — |
| $ | — |
| $ | (0 | ) | $ | — |
|
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: Katy Industries, Inc., et al. | Case No. 17-11101 (KJC) |
Debtors |
|
CONSOLIDATING BALANCE SHEET (Unaudited)
As of May 26, 2017
|
| Consolidating Fort Wayne Holdings, Inc. |
| ||||||||||
|
| Consolidated Fort |
|
|
| 17-11103 |
| 17-11104 |
| ||||
|
| Wayne Holdings, |
|
|
| Fort Wayne |
| Fort Wayne |
| ||||
|
| Inc |
| Eliminations |
| Holdings, Inc. |
| Plastics, Inc. |
| ||||
ASSETS |
|
|
|
|
|
|
|
|
| ||||
CURRENT ASSETS |
|
|
|
|
|
|
|
|
| ||||
Unrestricted Cash and Equivalents |
| $ | 38,839 |
|
|
|
|
| $ | 38,839 |
| ||
Accounts Receivable (Net) |
| 1,168,622 |
|
|
|
|
| 1,168,622 |
| ||||
Notes Receivable |
| 0 |
|
|
|
|
|
|
| ||||
Inventories, net |
| 1,513,707 |
|
|
|
|
| 1,513,707 |
| ||||
Prepaid Expenses |
| 194,250 |
|
|
|
|
| 194,250 |
| ||||
Net Inter-company accounts |
| 1,484,715 |
|
|
|
|
| 1,484,715 |
| ||||
Other Current Assets (attach schedule) |
| 0 |
|
|
|
|
|
|
| ||||
TOTAL CURRENT ASSETS |
| $ | 4,400,133 |
| $ | — |
| $ | — |
| $ | 4,400,133 |
|
PROPERTY AND EQUIPMENT |
|
|
|
|
|
|
|
|
| ||||
Land and improvements |
| $ | 285,129 |
|
|
|
|
| $ | 285,129 |
| ||
Buildings and improvements |
| 3,098,271 |
|
|
|
|
| 3,098,271 |
| ||||
Machinery and equipment |
| 7,479,586 |
|
|
|
|
| 7,479,586 |
| ||||
Less Accumulated Depreciation |
| (6,132,311 | ) |
|
|
|
| (6,132,311 | ) | ||||
TOTAL PROPERTY & EQUIPMENT |
| $ | 4,730,675 |
| $ | — |
| $ | — |
| $ | 4,730,675 |
|
OTHER ASSETS |
|
|
|
|
|
|
|
|
| ||||
Goodwill, net |
| $ | 2,556,004 |
|
|
|
|
| $ | 2,556,004 |
| ||
Lease Deposits |
|
|
|
|
|
|
|
|
| ||||
Notes Receivable |
|
|
|
|
|
|
|
|
| ||||
Other intangible assets, net |
| 3,457,410 |
|
|
|
|
| 3,457,410 |
| ||||
Investment in unconsolidated subsidiaries |
| 0 |
| -10,774,276 |
| 10,774,276 |
|
|
| ||||
TOTAL OTHER ASSETS |
| $ | 6,013,414 |
| $ | (10,774,276 | ) | $ | 10,774,276 |
| $ | 6,013,414 |
|
TOTAL ASSETS |
| $ | 15,144,222 |
| $ | (10,774,276 | ) | $ | 10,774,276 |
| $ | 15,144,222 |
|
LIABILITIES AND OWNER EQUITY |
|
|
|
|
|
|
|
|
| ||||
LIABILITIES |
|
|
|
|
|
|
|
|
| ||||
Current Liabilities |
|
|
|
|
|
|
|
|
| ||||
Accounts Payable |
| $ | 2,513,187 |
| $ | — |
|
|
| $ | 2,513,187 |
| |
Accrued Expenses |
| 28,336 |
|
|
|
|
| 28,336 |
| ||||
Accrued Compensation |
| 125,106 |
|
|
|
|
| 125,106 |
| ||||
Accrued Interest |
| 0 |
|
|
|
|
|
|
| ||||
TOTAL CURRENT LIABILITIES |
| $ | 2,666,629 |
| $ | — |
| $ | — |
| $ | 2,666,629 |
|
NON-CURRENT LIABILITIES |
|
|
|
|
|
|
|
|
| ||||
Deferred taxes |
| 2,439,507 |
|
|
|
|
| 2,439,507 |
| ||||
TOTAL NON-CURRENT LIABILITIES |
| $ | 2,439,507 |
| $ | — |
| $ | — |
| $ | 2,439,507 |
|
TOTAL LIABILITIES |
| 5,106,136 |
| — |
| — |
| 5,106,136 |
| ||||
SHAREHOLDERS EQUITY |
|
|
|
|
|
|
|
|
| ||||
Convertible Preferred Stock |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
|
Common Stock |
| 1 |
| (0 | ) | 1 |
| 0 |
| ||||
Additional Paid-In Capital |
| 10,774,275 |
|
|
| 10,774,275 |
|
|
| ||||
Accumulated other comprehensive loss |
| — |
| (10,774,276 | ) |
|
| 10,774,276 |
| ||||
Retained Earnings - Pre-Petition |
| (781,848 | ) |
|
|
|
| (781,848 | ) | ||||
Retained Earnings - Postpetition |
| 45,658 |
|
|
|
|
| 45,658 |
| ||||
Treasury Stock |
| — |
|
|
|
|
|
|
| ||||
TOTAL SHAREHOLDERS EQUITY |
| $ | 10,038,086 |
| $ | (10,774,276 | ) | $ | 10,774,276 |
| $ | 10,038,086 |
|
TOTAL LIABILITIES AND OWNERS’ EQUITY |
| $ | 15,144,222 |
| $ | (10,774,276 | ) | $ | 10,774,276 |
| $ | 15,144,222 |
|
|
| (0 | ) | (0 | ) | — |
| (0 | ) | ||||
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE
In re: Katy Industries, Inc., et al . | Case No. 17-11101 (KJC) |
Debtors |
|
CONSOLIDATING BALANCE SHEET (Unaudited)
As of May 26, 2017
|
|
|
|
|
| 17-11105 |
| 17-11106 |
| 17-11107 |
| 17-11108 |
| 17-11109 |
| 17-11110 |
| 17-11111 |
| 17-11112 |
| 17-11113 |
| 17-11114 |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| American Gage & |
|
|
|
|
|
|
| ||||||||||||
|
| Inactive |
|
|
| Wabash Holding |
|
|
|
|
|
|
|
|
| Hermann |
| Machining |
| WP Liquidating |
| Ashford Holding |
|
|
| ||||||||||||
|
| Subsidiaries |
| Eliminations |
| Corp |
| Katy Teweh, Inc |
| WII, Inc |
| TTI, Holdings |
| GCW, Inc. |
| Lowenstein Inc. |
| Company |
| Corp |
| Corp |
| HPMI, Inc. |
| ||||||||||||
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Unrestricted Cash and Equivalents |
| $ | — |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Accounts Receivable (Net) |
| 0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Notes Receivable |
| 0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Inventories, net |
| 0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Prepaid Expenses |
| 0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Net Inter-company accounts |
| 135,404,820 |
|
|
| 3,578,827 |
| -28,847,177 |
| 71,480,092 |
| 6,119,575 |
| 23,036,075 |
|
|
| 25,972,861 |
| -1,181,538 |
| 23,286,555 |
| 11,959,550 |
| ||||||||||||
Other Current Assets (attach schedule) |
| 0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
TOTAL CURRENT ASSETS |
| 135,404,820 |
|
|
| 3,578,827 |
| (28,847,177 | ) | 71,480,092 |
| 6,119,575 |
| 23,036,075 |
| — |
| 25,972,861 |
| (1,181,538 | ) | 23,286,555 |
| 11,959,550 |
| ||||||||||||
PROPERTY AND EQUIPMENT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Land and improvements |
| $ | — |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Buildings and improvements |
| 0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Machinery and equipment |
| 0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Less Accumulated Depreciation |
| 0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
TOTAL PROPERTY & EQUIPMENT |
| $ | — |
|
|
| $ | — |
| $ | — |
| $ | — |
| — |
| — |
| — |
| — |
| — |
| — |
| — |
| ||||||||
OTHER ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Goodwill, net |
| 0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Lease Deposits |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Notes Receivable |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Other intangible assets, net |
| 42,908 |
|
|
|
|
|
|
|
|
|
|
| 42,908 |
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Investment in unconsolidated subsidiaries |
| 0 |
| -4,938,037 |
|
|
|
|
| 6,119,575 |
|
|
|
|
|
|
| (1,181,538 | ) |
|
|
|
|
|
| ||||||||||||
TOTAL OTHER ASSETS |
| $ | 42,908 |
| $ | (4,938,037 | ) | $ | — |
| $ | — |
| $ | 6,119,575 |
| $ | — |
| $ | 42,908 |
| $ | — |
| $ | (1,181,538 | ) | $ | — |
| $ | — |
| $ | — |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
TOTAL ASSETS |
| $ | 135,447,728 |
| $ | (4,938,037 | ) | $ | 3,578,827 |
| $ | (28,847,177 | ) | $ | 77,599,667 |
| $ | 6,119,575 |
| $ | 23,078,983 |
| $ | — |
| $ | 24,791,323 |
| $ | (1,181,538 | ) | $ | 23,286,555 |
| $ | 11,959,550 |
|
LIABILITIES AND OWNER EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Current Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Accounts Payable |
| 0 |
|
|
| 0 |
| 0 |
| 0 |
| — |
| — |
| — |
| — |
| — |
| — |
| — |
| ||||||||||||
Accrued Expenses |
| 396,077 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 396,077 |
|
|
|
|
|
|
| ||||||||||||
Accrued Compensation |
| — |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Accrued Interest |
| — |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
TOTAL CURRENT LIABILITIES |
| $ | 396,077 |
|
|
| $ | — |
| $ | — |
| $ | — |
| — |
| — |
| — |
| 396,077 |
| — |
| — |
| — |
| ||||||||
NON-CURRENT LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Post retirement benefits |
| 387,212 |
|
|
| 305,792 |
|
|
| 31,438 |
|
|
|
|
|
|
| 49,982 |
|
|
|
|
|
|
| ||||||||||||
Deferred Compensation |
| — |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Deferred taxes |
| — |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
GAAP Lease Obligations |
| — |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
|
| — |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
TOTAL NON-CURRENT LIABILITIES |
| $ | 387,212 |
| $ | — |
| $ | 305,792 |
| $ | — |
| $ | 31,438 |
| $ | — |
| $ | — |
| $ | — |
| $ | 49,982 |
| $ | — |
| $ | — |
| $ | — |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
TOTAL LIABILITIES |
| $ | 783,289 |
| $ | — |
| $ | 305,792 |
| $ | — |
| $ | 31,438 |
| $ | — |
| $ | — |
| $ | — |
| $ | 446,059 |
| $ | — |
| $ | — |
| $ | — |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
SHAREHOLDERS EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Convertible Preferred Stock |
| $ | 5,152,000 |
|
|
| $ | 1,000 |
| $ | 1,000 |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | 2,650,000 |
| $ | — |
| $ | 2,500,000 |
| $ | — |
| |
Common Stock |
| 1,201,000 |
| (500,000 | ) |
|
|
|
|
|
|
|
|
|
|
|
| 200,000 |
| 500,000 |
| 1,000,000 |
| 1,000 |
| ||||||||||||
Additional Paid-In Capital |
| 57,942,973 |
| (7,782,135 | ) | 6,134,502 |
|
|
| 44,102,184 |
| 7,782,135 |
|
|
|
|
| 6,275,443 |
|
|
| 1,236,128 |
| 194,716 |
| ||||||||||||
Accumulated other comprehensive loss |
| (570,716 | ) |
|
| (397,537 | ) |
|
| (56,432 | ) |
|
| (116,747 | ) |
|
|
|
|
|
|
|
|
|
| ||||||||||||
Retained Earnings - Pre-Petition |
| 70,939,182 |
| 3,344,098 |
| (2,464,930 | ) | (28,848,177 | ) | 33,522,477 |
| (1,662,560 | ) | 23,195,730 |
|
|
| 15,219,821 |
| (1,681,538 | ) | 18,550,427 |
| 11,763,834 |
| ||||||||||||
Retained Earnings - Postpetition |
| — |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
Treasury Stock |
| — |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
TOTAL SHAREHOLDERS EQUITY |
| $ | 134,664,439 |
| $ | (4,938,037 | ) | $ | 3,273,035 |
| $ | (28,847,177 | ) | $ | 77,568,229 |
| $ | 6,119,575 |
| $ | 23,078,983 |
| $ | — |
| $ | 24,345,264 |
| $ | (1,181,538 | ) | $ | 23,286,555 |
| $ | 11,959,550 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||
TOTAL LIABILITIES AND OWNERS’ EQUITY |
| $ | 135,447,728 |
| $ | (4,938,037 | ) | $ | 3,578,827 |
| $ | (28,847,177 | ) | $ | 77,599,667 |
| $ | 6,119,575 |
| $ | 23,078,983 |
| $ | — |
| $ | 24,791,323 |
| $ | (1,181,538 | ) | $ | 23,286,555 |
| $ | 11,959,550 |
|
|
| — |
| — |
| — |
| — |
| — |
| — |
| — |
| — |
| — |
| — |
| — |
| — |
| ||||||||||||
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: Katy Industries, Inc., et al . | Case No. 17-11101 (KJC) |
Debtors | Reporting Period: Petition Date to May 26, 2017 |
STATUS OF POSTPETITION TAXES
|
| Beginning |
| Amount |
|
|
|
|
|
|
| Ending |
| ||||
|
| Tax |
| Withheld or |
| Amount |
| Date |
| Check No. |
| Tax |
| ||||
|
| Liability |
| Accrued |
| Paid |
| Paid |
| or EFT |
| Liability |
| ||||
Federal |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
Withholding |
| $ | — |
| $ | 53,013 |
| $ | 53,013 |
| 5/19/17 & 5/26/17 |
| Payroll Service |
| $ | — |
|
FICA-Employee |
| 0 |
| 34,391 |
| 34,391 |
| 5/19/17 & 5/26/17 |
| Payroll Service |
| 0 |
| ||||
FICA-Employer |
| 0 |
| 34,391 |
| 34,391 |
| 5/19/17 & 5/26/17 |
| Payroll Service |
| 0 |
| ||||
Unemployment |
| 0 |
| 335 |
| 335 |
| 5/19/17 & 5/26/17 |
| Payroll Service |
| 0 |
| ||||
Income |
| 0 |
|
|
|
|
|
|
|
|
| 0 |
| ||||
Other: |
| 0 |
|
|
|
|
|
|
|
|
| 0 |
| ||||
Total Federal Taxes |
| $ | — |
| $ | 122,130 |
| $ | 122,130 |
|
|
|
|
| $ | — |
|
State and Local |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
Withholding |
| $ | — |
| $ | 16,881 |
| $ | 16,881 |
| 5/19/17 & 5/26/17 |
| Payroll Service |
| $ | — |
|
Sales |
| 0 |
|
|
|
|
|
|
|
|
| 0 |
| ||||
Excise |
| 0 |
|
|
|
|
|
|
|
|
| 0 |
| ||||
Unemployment |
| 0 |
| 5,718 |
| 5,718 |
| 5/19/17 & 5/26/17 |
| Payroll Service |
| 0 |
| ||||
SDI/UC |
| 0 |
| 3 |
| 3 |
| 5/19/17 & 5/26/17 |
| Payroll Service |
|
|
| ||||
Real Property |
| 0 |
|
|
|
|
|
|
|
|
| 0 |
| ||||
Personal Property |
| 0 |
|
|
|
|
|
|
|
|
| 0 |
| ||||
Other: |
| 0 |
|
|
|
|
|
|
|
|
| 0 |
| ||||
Total State and Local |
| $ | — |
| $ | 22,602 |
| $ | 22,602 |
|
|
|
|
| $ | — |
|
Total Taxes |
| $ | — |
| $ | 144,732 |
| $ | 144,732 |
|
|
|
|
| $ | — |
|
SUMMARY OF UNPAID POSTPETITION DEBTS
|
| Number of Days Past Due |
|
|
| |||||||||
|
| Current |
| 0-30 |
| 31-60 |
| 61-90 |
| Over 90 |
| Total |
| |
Accounts Payable |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Katy Industries, Inc. |
| 0 |
|
|
|
|
|
|
|
|
| $ | — |
|
Continental Commercial Products, LLC |
| 15,777 |
|
|
|
|
|
|
|
|
| 15,777 |
| |
Fort Wayne Plastics, lnc. |
| 50,799 |
|
|
|
|
|
|
|
|
| 50,799 |
| |
Total Postpetition Debts |
| 66,575 |
| 0 |
| 0 |
| 0 |
| 0 |
| $ | 66,575 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Copies of Accounts Payable Agings are annexed |
|
|
|
|
|
|
|
|
|
|
|
|
| |
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: Katy Industries, Inc., et al. | Case No. 17-11101 (KJC) |
Debtors | Reporting Period: Petition Date to May 26, 2017 |
Schedule of Payroll Taxes Withheld and Payments
Entity |
| CCP |
| CCP |
| CCP |
| KATY |
| CCP |
| CCP |
| CCP |
| CCP |
| KATY-WJS |
| FWP |
| Total |
| |||||||||||
Payroll ID |
| 101 |
| 20C |
| 231 |
| 23X |
| 101 |
| 20C |
| 231 |
| 232 |
| 23W |
|
|
|
|
| |||||||||||
Location |
| Tiffin |
| Jeff City |
| St. Louis |
| St. Louis |
| Tiffin |
| Jeff City |
| St. Louis |
| St. Louis |
| Texas |
|
|
|
|
| |||||||||||
Period Ending |
| 5/13/2017 |
| 5/13/2017 |
| 5/13/2017 |
| 5/27/2017 |
| 5/20/2017 |
| 5/20/2017 |
| 5/20/2017 |
| 5/27/2017 |
| 5/27/2017 |
| 5/20/2017 |
|
|
| |||||||||||
Frequency |
| Weekly |
| Weekly |
| Weekly |
| Bi-Weekly |
| Weekly |
| Weekly |
| Weekly |
| Bi-Weekly |
| Bi-Weekly |
| Bi-Weekly |
|
|
| |||||||||||
Payroll Paid date |
| 5/19/2017 |
| 5/19/2017 |
| 5/19/2017 |
| 5/26/2017 |
| 5/26/2017 |
| 5/26/2017 |
| 5/26/2017 |
| 5/26/2017 |
| 5/26/2017 |
| 5/26/2017 |
|
|
| |||||||||||
Tax Deposit date |
| 5/19/2017 |
| 5/19/2017 |
| 5/19/2017 |
| 5/26/2017 |
| 5/26/2017 |
| 5/26/2017 |
| 5/26/2017 |
| 5/26/2017 |
| 5/26/2017 |
| 5/26/2017 |
|
|
| |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Federal Payroll Taxes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
WITHHOLDING |
| $ | 3,423 |
| $ | 4,053 |
| $ | 205 |
| $ | 3,775 |
| $ | 2,705 |
| $ | 3,743 |
| $ | 777 |
| $ | 23,775 |
| $ | 100 |
| $ | 10,456 |
| $ | 53,013 |
|
EE-SSEC |
| 2,420 |
| 2,883 |
| 155 |
| 125 |
| 2,042 |
| 2,763 |
| 460 |
| 10,337 |
| 87 |
| 6,426 |
| 27,698 |
| |||||||||||
EE-MDCR |
| 566 |
| 674 |
| 36 |
| 245 |
| 478 |
| 646 |
| 108 |
| 2,417 |
| 20 |
| 1,503 |
| 6,694 |
| |||||||||||
ER-SSEC |
| 2,420 |
| 2,884 |
| 155 |
| 125 |
| 2,042 |
| 2,763 |
| 460 |
| 10,337 |
| 87 |
| 6,426 |
| 27,698 |
| |||||||||||
ER-MDCR |
| 566 |
| 674 |
| 36 |
| 245 |
| 478 |
| 646 |
| 108 |
| 2,417 |
| 20 |
| 1,503 |
| 6,694 |
| |||||||||||
|
| $ | 9,395 |
| $ | 11,169 |
| $ | 587 |
| $ | 4,516 |
| $ | 7,744 |
| $ | 10,562 |
| $ | 1,912 |
| $ | 49,282 |
| $ | 314 |
| $ | 26,314 |
| $ | 121,795 |
|
FUTA |
| 51 |
| 72 |
| 0 |
| 0 |
| 32 |
| 72 |
| 0 |
| 12 |
| 0 |
|
| 96 |
| 335 |
| ||||||||||
Total Federal |
| $ | 9,446 |
| $ | 11,241 |
| $ | 588 |
| $ | 4,516 |
| $ | 7,776 |
| $ | 10,634 |
| $ | 1,912 |
| $ | 49,295 |
| $ | 314 |
| $ | 26,410 |
| $ | 122,130 |
|
State & Local |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
GA-SWT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 52 |
|
|
|
|
| 52 |
| |||||||||||
IN-SUTA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 1,185 |
| 1,185 |
| |||||||||||
IN-SWT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3,203 |
| 3,203 |
| |||||||||||
IN-LOCAL |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 1,340 |
| 1,340 |
| |||||||||||
MO-SUTA |
|
|
| 1,583 |
| 92 |
| 0 |
|
|
| 1,674 |
| 86 |
| 286 |
|
|
|
|
| 3,721 |
| |||||||||||
MO-SWT |
|
|
| 1,221 |
| 62 |
| 67 |
|
|
| 1,079 |
| 246 |
| 6,250 |
|
|
|
|
| 8,925 |
| |||||||||||
MO-Local |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 126 |
|
|
|
|
| 126 |
| |||||||||||
NC-SWT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 114 |
|
|
|
|
| 114 |
| |||||||||||
OH-SWT |
| 803 |
|
|
|
|
|
|
| 649 |
|
|
|
|
| 297 |
|
|
|
|
| 1,749 |
| |||||||||||
OH-SUTA |
| 490 |
|
|
|
|
|
|
| 322 |
|
|
|
|
|
|
|
|
|
|
| 812 |
| |||||||||||
OH-LOCAL |
| 546 |
|
|
|
|
|
|
| 473 |
|
|
|
|
| 149 |
|
|
|
|
| 1,168 |
| |||||||||||
PA-SWT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 128 |
|
|
|
|
| 128 |
| |||||||||||
PA-LOCAL |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 76 |
|
|
|
|
| 76 |
| |||||||||||
PA-SDI/UC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3 |
|
|
|
|
| 3 |
| |||||||||||
|
| $ | 1,839 |
| $ | 2,804 |
| $ | 154 |
| $ | 67 |
| $ | 1,444 |
| $ | 2,753 |
| $ | 332 |
| $ | 7,482 |
| $ | — |
| $ | 5,727 |
| $ | 22,602 |
|
Total Payroll Taxes |
| $ | 11,285 |
| $ | 14,044 |
| $ | 742 |
| $ | 4,583 |
| $ | 9,220 |
| $ | 13,387 |
| $ | 2,244 |
| $ | 56,777 |
| $ | 314 |
| $ | 32,137 |
| $ | 144,732 |
|
State & Local by Type |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
SWT |
| $ | 803 |
| $ | 1,221 |
| $ | 62 |
| $ | 67 |
| $ | 649 |
| $ | 1,079 |
| $ | 246 |
| $ | 6,841 |
| $ | — |
| $ | 3,203 |
| $ | 14,170 |
|
LWT |
| 546 |
| 0 |
| 0 |
| 0 |
| 473 |
| 0 |
| 0 |
| 352 |
| 0 |
| 1,340 |
| 2,711 |
| |||||||||||
SUTA |
| 490 |
| 1,583 |
| 92 |
| 0 |
| 322 |
| 1,674 |
| 86 |
| 286 |
| 0 |
| 1,185 |
| 5,718 |
| |||||||||||
SDI-UC |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 3 |
| 0 |
| 0 |
| 3 |
| |||||||||||
Total State & Local |
| $ | 1,839 |
| $ | 2,804 |
| $ | 154 |
| $ | 67 |
| $ | 1,444 |
| $ | 2,753 |
| $ | 332 |
| $ | 7,482 |
| $ | — |
| $ | 5,727 |
| $ | 22,602 |
|
Continental Commercal Products, LLC |
|
Post-Petition Accounts Payable |
|
As of 5/26/2017 |
|
Vendor |
| INVC# |
| INVOICE |
| INVOICE |
| Amount |
| |
AMERIGAS |
| 3065037543 |
| 05/16/17 |
| 5/26/2017 |
| 89.82 |
| |
AMERIGAS |
| 3065111795 |
| 05/18/17 |
| 5/28/2017 |
| 282.39 |
| |
CERIDIAN EMPLOYER SERVICE |
| 36221537 |
| 05/16/17 |
| 6/15/2017 |
| 294.87 |
| |
CERIDIAN EMPLOYER SERVICE |
| 36221538 |
| 05/16/17 |
| 6/15/2017 |
| 188.14 |
| |
CERIDIAN EMPLOYER SERVICE |
| 36222284 |
| 05/17/17 |
| 6/16/2017 |
| 142.87 |
| |
CERIDIAN EMPLOYER SERVICE |
| 36222285 |
| 05/17/17 |
| 6/16/2017 |
| 33.21 |
| |
CERIDIAN EMPLOYER SERVICE |
| 36222286 |
| 05/17/17 |
| 6/16/2017 |
| 213.80 |
| |
CERIDIAN EMPLOYER SERVICE |
| 36222291 |
| 05/17/17 |
| 6/16/2017 |
| 219.42 |
| |
CERIDIAN EMPLOYER SERVICE |
| 36223373 |
| 05/19/17 |
| 6/18/2017 |
| 188.14 |
| |
CERIDIAN EMPLOYER SERVICE |
| 36223374 |
| 05/19/17 |
| 6/18/2017 |
| 363.66 |
| |
CERIDIAN EMPLOYER SERVICE |
| 36223375 |
| 05/19/17 |
| 6/18/2017 |
| 343.30 |
| |
FORKLIFTS OF CENTRAL MO |
| 156335 |
| 05/15/17 |
| 6/14/2017 |
| 70.00 |
| |
FORKLIFTS OF CENTRAL MO |
| 156375 |
| 05/16/17 |
| 6/15/2017 |
| 151.68 |
| |
FORKLIFTS OF CENTRAL MO |
| 160811 |
| 05/17/17 |
| 6/16/2017 |
| 388.26 |
| |
JACKSON OIL & SOLVENTS |
| 052517 |
| 05/25/17 |
| 6/24/2017 |
| 9.00 |
| |
RAYMOND LEASING CORP |
| 4105316 |
| 05/08/17 |
| 6/7/2017 |
| 649.79 |
| |
TOYOTA FINANCIAL SERVICES |
| 4001863398 |
| 05/15/17 |
| 6/14/2017 |
| 288.84 |
| |
TOYOTA FINANCIAL SERVICES |
| 4001863401 |
| 05/15/17 |
| 6/14/2017 |
| 518.64 |
| |
UNITED PARCEL SERVICE |
| V25456207 |
| 05/20/17 |
| 5/30/2017 |
| 7,649.78 |
| |
UNITED PARCEL SERVICE |
| V9040F207 |
| 05/20/17 |
| 5/30/2017 |
| 27.45 |
| |
UNITED PARCEL SERVICE |
| 1 E0827207 |
| 05/20/17 |
| 5/30/2017 |
| 126.34 |
| |
UNITED PARCEL SERVICE |
| 679621207 |
| 05/20/17 |
| 5/30/2017 |
| 529.03 |
| |
UNITED PARCEL SERVICE |
| 7E218R207 |
| 05/20/17 |
| 5/30/2017 |
| 27.45 |
| |
UNITED PARCEL SERVICE |
| 9R78V8207 |
| 05/20/17 |
| 5/30/2017 |
| 29.58 |
| |
UNITED PARCEL SERVICE |
| V259W4207 |
| 05/20/17 |
| 5/30/2017 |
| 2,926.37 |
| |
UPS SUPPLY CHAIN |
| 1174337677 |
| 05/17/17 |
| 5/27/2017 |
| 24.73 |
| |
|
|
|
|
|
|
|
| $ | 15,776.56 |
|
Fort Wayne Plastics, Inc.
Post-Petition Accounts Payable Listing
As of 26-May-17
Vendor # |
| Vendor Name |
| Invoice |
| Invoice Date |
| Due Date |
| Amount |
| |
00051077 |
| Action Equipment Sales |
| 17-04982 |
| 5/19/2017 |
| 6/18/2017 |
| 3,124.40 |
| |
1014 |
| Allen Business Machin XXXXXX |
| 298948 |
| 5/22/2017 |
| 6/21/2017 |
| 48.40 |
| |
16038 |
| Bosch Automotive S XXXXXX |
| rebate5.26.17 |
| 5/26/2017 |
| 7/20/2017 |
| 395.39 |
| |
00050943 |
| Delta Dental |
| 1498101 |
| 6/1/2017 |
| 6/5/2017 |
| 1,850.42 |
| |
6010 |
| Fastenal Company |
| ppd73547 |
| 5/26/2017 |
| 5/26/2017 |
| 22.02 |
| |
17018 |
| Forge |
| 78488-cm |
| 5/25/2017 |
| 6/25/2017 |
| -292.50 |
| |
00050631 |
| Inside Edge Network |
| 1690-1 |
| 5/1/2017 |
| 6/1/2017 |
| 958.06 |
| |
00050644 |
| Jenkins, Darrell |
| exp052717 |
| 5/27/2017 |
| 6/3/2017 |
| 15.99 |
| |
11004 |
| LPFP |
| 1706 |
| 5/26/2017 |
| 6/1/2017 |
| 1,454.44 |
| |
00050601 |
| Power Components |
| 362198-1 |
| 5/22/2017 |
| 6/6/2017 |
| 680.07 |
| |
00050601 |
| Power Components |
| 362382-1 |
| 5/23/2017 |
| 6/7/2017 |
| 273.72 |
| |
00051063 |
| Praxair |
| 77349571 |
| 5/16/2017 |
| 6/15/2017 |
| 134.69 |
| |
00051063 |
| Praxair |
| 77360166 |
| 5/17/2017 |
| 6/16/2017 |
| 547.30 |
| |
00051063 |
| Praxair |
| 77359944 |
| 5/17/2017 |
| 6/16/2017 |
| 258.43 |
| |
00051063 |
| Praxair |
| 77372023 |
| 5/18/2017 |
| 6/17/2017 |
| 200.79 |
| |
00051063 |
| Praxair |
| 77396050 |
| 5/20/2017 |
| 6/19/2017 |
| 161.73 |
| |
00051063 |
| Praxair |
| 77413392-1 |
| 5/22/2017 |
| 6/21/2017 |
| 157.29 |
| |
00051063 |
| Praxair |
| 77491687 |
| 5/23/2017 |
| 6/22/2017 |
| 455.25 |
| |
00051063 |
| Praxair |
| 77492941 |
| 5/23/2017 |
| 6/22/2017 |
| 140.18 |
| |
00051063 |
| Praxair |
| 77535882 |
| 5/26/2017 |
| 6/25/2017 |
| 295.15 |
| |
9510 |
| The Lincoln National XXXXXX |
| 051517 |
| 5/15/2017 |
| 6/1/2017 |
| 999.81 |
| |
17035 |
| Toyota |
| 4001855689 |
| 5/8/2017 |
| 6/1/2017 |
| 474.45 |
| |
00051008 |
| United Healthcare |
| 43478867 |
| 5/12/2017 |
| 6/1/2017 |
| 37,561.99 |
| |
00051067 |
| Wildman Uniforms |
| 1398409 |
| 5/18/2017 |
| 6/18/2017 |
| 385.93 |
| |
00051067 |
| Wildman Uniforms |
| 1402164 |
| 5/25/2017 |
| 6/25/2017 |
| 495.20 |
| |
|
|
|
|
|
|
|
|
|
| $ | 50,798.60 |
|
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: Katy Industries, Inc., et al . | Case No. 17-11101 (KJC) |
Debtors |
|
| Reporting Period: Petition Date to May 26, 2017 |
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
|
|
|
| Continental |
|
|
| |||
|
|
|
| Commercial |
| Fort Wayne |
| |||
|
| Consolidated |
| Products, LLC |
| Plastics, Inc |
| |||
Accounts Receivable Reconciliation |
|
|
|
|
|
|
| |||
Total Accounts Receivable at the beginning of the reporting period |
| $ | 8,904,295 |
| $ | 7,748,171 |
| $ | 1,156,124 |
|
+ Amounts billed during the period |
| 2,716,455 |
| 2,458,873 |
| 257,581 |
| |||
- Amounts collected during the period |
| (2,531,734 | ) | (2,298,454 | ) | (233,280 | ) | |||
+/- Adjustments |
| (684,369 | ) | (681,771 | ) | (2,598 | ) | |||
Total Accounts Receivable at the end of the reporting period |
| $ | 8,404,647 |
| $ | 7,226,818 |
| $ | 1,177,828 |
|
|
|
|
|
|
|
|
| |||
Accounts Receivable Aging from invoice date |
|
|
|
|
|
|
| |||
0 - 30 days old |
| $ | 4,816,563 |
| $ | 4,221,045 |
| $ | 595,518 |
|
31 - 60 days old |
| 1,700,261 |
| 1,375,606 |
| 324,655 |
| |||
61 - 90 days old |
| 588,122 |
| 464,532 |
| 123,590 |
| |||
91+ days old |
| 1,299,701 |
| 1,165,635 |
| 134,066 |
| |||
Total Accounts Receivable |
| $ | 8,404,646 |
| $ | 7,226,818 |
| $ | 1,177,828 |
|
Amount considered uncollectible (Bad Debt) |
| (967,502 | ) | (958,296 | ) | (9,206 | ) | |||
Accounts Receivable (Net) |
| $ | 7,437,144 |
| $ | 6,268,522 |
| $ | 1,168,622 |
|
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. |
| No |
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. |
| No |
3. Have all postpetition tax returns been timely filed? If no, provide an explanation below. |
| Yes |
4. Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below. |
| Yes |
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. |
| Yes |