TRANSMITTAL OF FINANCIAL REPORTS AND
CERTIFICATION OF COMPLIANCE WITH
UNITED STATES TRUSTEE OPERATING REQUIREMENTS FOR
THE PERIOD ENDED MARCH 31, 2009
IN RE:
:
09-11235 (JVA); 09-11236;
09-11237;
09-11238;
:
09-11239;
09-11241;
CASE NO.:
09-11244
:
Chapter 11
Judge:
J. Vincent Aug, Jr.
Milacron Inc., a Delaware corporation,
:
et, al.
Debtor
As debtor in possession, I affirm:
1.
That I have reviewed the financial statements attached hereto, consisting of:
| | | |
X | | Operating Statement | (Form 2) |
X | | Balance Sheet | (Form 3) |
X | | Summary of Operations | (Form 4) |
X | | Monthly Cash Statement | (Form 5) |
X | | Statement of Compensation | (Form 6) |
X | | Schedule of In-Force Insurance | (Form 7) |
and that they have been prepared in accordance with normal and customary accounting practices, and fairly and accurately reflect the debtor’s financial activity for the period stated;
2.
That the insurance, including workers’ compensation and unemployment insurance, as described in
Section 4 of the Reporting Requirements For Chapter 11 Cases is in effect; and,
(if not, attach a written explanation)
YES X
NO _______
3.
That all postpetition taxes as described in Sections 1 and 14 of the Operating Instructions and
Reporting Requirements For Chapter 11 cases are current.
(If not, attach a written explanation)
YES X
NO _______
4.
No professional fees (attorney, accountant, etc.) have been paid without specific court authorization.
(If not, attach a written explanation)
YES X
NO _______
5.
All United States Trustee Quarterly fees have been paid and are current.
YES X
NO _______
6.
Have you filed your prepetition tax returns.
(If not, attach a written explanation)
YES _______
NO X
I hereby certify, under penalty of perjury, that the information provided above and in the attached documents is true and correct to the best of my information and belief.
/s/ John C. Francy
Dated 5/5/09
Debtor in Possession
V.P.-Finance,
513-536-3555
Title
Phone
Treasurer &
CFO
Form 1
Transmittal of Financial Reports and
Certification of Compliance with
United States Trustee Operating Requirements for
The Period Ended
March 31, 2009
IN RE:
Milacron Inc., a Delaware corporation, et, al.
CASE NO:
09-11235 (JVA)
09-11236
09-11237
09-11238
09-11239
09-11241
09-11244
Chapter 11 Judge:
J. Vincent Aug, Jr.
Form 1, Item 6:
Written explanation of unfiled prepetition tax returns:
The company has yet to file its 2008 Federal and State Income Tax Returns.
The returns will be filed within the extended due dates.
Form 1 (Attachment for Item 6)
| | | | |
OPERATING STATEMENT (P&L) |
Period Ending March 31, 2009 |
| | | | | |
| | | Case No: | 09-11235 (JVA) |
| | | | | |
| | | | | Total Since |
| | | Period Ending | | Filing on |
| | | March 31, 2009 | | March 10, 2009 |
| | | | | |
Total Sales | | 22,260,000 | | 22,260,000 |
Cost of Sales | | 20,262,000 | | 20,262,000 |
| | | | | |
Gross Profit | | 1,998,000 | | 1,998,000 |
| | | | | |
Selling, General and Administrative Expenses: | | |
Salaries and Wages | | 954,000 | | 954,000 |
Fringes/Employee Benefits | | 403,000 | | 403,000 |
Travel and Entertainment | | 157,000 | | 157,000 |
Advertising | | 102,000 | | 102,000 |
Professional Services | | 152,000 | | 152,000 |
Commissions | | 254,000 | | 254,000 |
Dealer's Discount | | 302,000 | | 302,000 |
Other | | 240,000 | | 240,000 |
Total Expenses | | 2,564,000 | | 2,564,000 |
| | | | | |
Net Operating Profit/(Loss) | | (566,000) | | (566,000) |
| | | | | |
Add: Non-Operating Income | | | | |
Interest Income | | 8,000 | | 8,000 |
Intercompany Service Credit | | 136,000 | | 136,000 |
Total Non-Operating Income | | 144,000 | | 144,000 |
| | | | | |
Less: Non-Operating Expenses | | | | |
Bankruptcy Professional Fees, Estate | | 1,103,000 | | 1,103,000 |
Bankruptcy Professional Fees, Lenders | | 1,479,000 | | 1,479,000 |
Bankruptcy Costs - Other | | 82,000 | | 82,000 |
Investment Loss in Subsidiaries | | 2,523,000 | | 2,523,000 |
Financing Costs | | 2,744,000 | | 2,744,000 |
Loss on Currency Transactions | | 56,000 | | 56,000 |
Intercompany Interest Expense | | 294,000 | | 294,000 |
Interest Expense | | 788,000 | | 788,000 |
Other | | 191,000 | | 191,000 |
Total Non-Operating Expenses | | 9,260,000 | | 9,260,000 |
| | | | | |
Income Tax Expense (Income) | | (70,000) | | (70,000) |
| | | | | |
Net Income/(Loss) | | (9,612,000) | | (9,612,000) |
| | | | |
BALANCE SHEET |
Period Ending March 31, 2009 |
| | | | | |
| | | Case No: | 09-11235 (JVA) |
| | | | | |
| | | March 31, 2009 | | At Filing |
| | | | | |
ASSETS: | | | | |
Cash and Cash Equivalents | | 4,671,000 | | 6,581,000 |
Notes and Accounts Receivable, Net | | 33,157,000 | | 32,541,000 |
Insider Receivables | | - | | - |
Inventory | | 84,687,000 | | 92,115,000 |
Deferred Income Taxes Net of Valuation Allowances | 1,362,000 | | 1,362,000 |
Other Assets | | 11,430,000 | | 8,665,000 |
Property, Plant and Equipment | | 189,310,000 | | 189,079,000 |
Accumulated Depreciation | | (145,588,000) | | (144,959,000) |
Goodwill | | 52,706,000 | | 52,582,000 |
Deferred Financing Costs | | 5,027,000 | | 5,152,000 |
Investments in Subsidiaries | | 293,767,000 | | 288,027,000 |
Advances to Subsidiaries | | 4,730,000 | | 4,589,000 |
TOTAL ASSETS | | 535,259,000 | | 535,734,000 |
| | | | | |
LIABILITIES: | | | | |
Post-Petition Liabilities: | | | | |
Trade Accounts Payable | | 11,492,000 | | - |
Advance Billings and Deposits | | 1,027,000 | | - |
Accrued Salaries, Wages and Other Compensation | 3,644,000 | | - |
Accrued Interest | | 402,000 | | - |
Intercompany Payable | | 3,093,000 | | - |
Advances from Affiliates | | - | | - |
Accrued Liabilities | | 4,020,000 | | - |
Debtor-in-Possession Financing | | 37,167,000 | | - |
Total Post-Petition Liabilities | | 60,845,000 | | - |
| | | | | |
Secured Prepetition Liabilities: | | | | |
Short-Term Borrowings | | 8,845,000 | | 39,532,000 |
Long-Term Debt | | 212,958,000 | | 227,483,000 |
Total Secured Liabilities | | 221,803,000 | | 267,015,000 |
| | | | | |
Pre-Petition Liabilities Subject to Compromise: | | | |
Trade Accounts Payable | | 35,549,000 | | 36,595,000 |
Advance Billings and Deposits | | 6,333,000 | | 12,010,000 |
Accrued Salaries, Wages and Other Compensation | 7,523,000 | | 8,864,000 |
Accrued Interest | | 7,761,000 | | 8,220,000 |
Intercompany Payable | | 115,793,000 | | 120,980,000 |
Advances from Affiliates | | 65,938,000 | | 64,004,000 |
Accrued Liabilities | | 282,026,000 | | 283,555,000 |
Total Pre-Petition Liabilities | | 520,923,000 | | 534,228,000 |
| | | | | |
| | | | |
Equity: | | | | |
Preferred Stock | | 6,005,000 | | 6,005,000 |
Common Stock | | 60,000 | | 60,000 |
Paid In Capital | | 479,908,000 | | 479,727,000 |
Retained Deficit - Pre-Petition | | (537,129,000) | | (537,129,000) |
Retained Deficit - Post-Petition | | (10,121,000) | | - |
Accumulated Other Comprehensive Loss | | (207,035,000) | | (214,172,000) |
Total Equity | | (268,312,000) | | (265,509,000) |
| | | | | - |
Total Liabilities and Equity | | 535,259,000 | | 535,734,000 |
