parties. As a result, the estimated disbursements reported on Part 1 of the MOR may not agree with the Debtors bank statements or the Debtors books and records. Reconciling
differences will exist between bank statement balances and balance sheet cash balances due to routine timing differences between payment execution in the Debtors financial system and disbursement of funds from Debtor bank accounts.
Part 2: Asset and Liability Status
Please refer to the Introduction, Interest in Subsidiaries and Affiliates and Reservation of Rights notes
above for information about presentation and limitations that may exist in the MOR.
Postpetition payables primarily consists of trade
payables balances.
Part 3: Assets Sold or Transferred
No such transactions or activities occurred during the Reporting Period. Please refer to the Introduction, Interest in
Subsidiaries and Affiliates and Reservation of Rights notes above for information about presentation and limitations that may exist in the MOR.
Part 4: Income Statement (Statement of Operations)
Please refer to the Introduction, Interest in Subsidiaries and Affiliates and Reservation of Rights notes
above for information about presentation and limitations that may exist in the MOR.
Part 5: Professional Fees and Expenses
The Debtors did not make any payments to any restructuring professionals or committee professionals (whether retained or anticipated to be
retained) during the Reporting Period.
On March 5, 2024, the Court entered the Order Pursuant to 11 U.S.C.
§§ 105(a), 327, and 330 Authorizing Debtors to Employ Professionals Used in Ordinary Course of Business [Docket No. 244] authorizing, but not requiring, Debtors to retain and pay certain Ordinary Course
Professionals. During the Reporting Period, F.W. Cook was inadvertently paid $3,346 on account of a prepetition invoice. The Debtors are working with F.W. Cook to reverse this inadvertent payment or apply it to future postpetition invoices. In
addition, Gunster was inadvertently paid $35,399 on account of a prepetition invoice. The Debtors are working with Gunster to reverse this inadvertent payment or apply it to future postpetition invoices.
Part 6: Postpetition Taxes
In the ordinary course of business, the Debtors are obligated to pay certain taxes and governmental fees. On March 5, 2024 (outside the
Reporting Period), the Court entered the Final Order Pursuant to 11 U.S.C. §§ 105(a), 363(b), 507(a), and 541(d) (I) Authorizing Debtors to Pay Prepetition Taxes and Fees, and
(II) Granting Related Relief [Docket No. 242] authorizing, but not directing, the Debtors to, among other things, pay Taxes and Fees that arise or accrue in the ordinary course of business on a postpetition basis
consistent with prepetition practices. The Debtors believe that they are current with respect to any postpetition Taxes and Fees that have come due.
Part 7(g): Postpetition Borrowing
On March 6, 2024, the Court entered the Final Order Pursuant to 11 U.S.C. §§ 105, 361, 362, 363, 364,
507, and 552 and Fed. R. Bankr. P. 2002, 4001, 6003, 6004, and 9014 for (I) Authority to (A) Obtain Postpetition Financing, (B) Use Cash Collateral (C) Grant Liens and
Provide Superpriority Administrative Expense Status, (D) Grant Adequate Protection, and (E) Modify the Automatic Stay, and (II) Related Relief [Docket No. 271] authorizing the Debtors
to (i) obtain postpetition financing (the DIP Financing) to fund the costs of implementing
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Official MOR Form |
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Monthly Operating Report About Debtor Entities Value, Operations, Profitability and Cash Flows |
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