Oct 2019 - Panthera Monthly Operating Report

Date: 2019-11-20

Source document: Oct 2019 - Panthera Monthly Operating Report; document type: monthly operating report (Official Form 425C, small business chapter 11).

Full text

Official Form 425C
Monthly Operating Report for Small Business Under Chapter 11
page 1

Official Form 425C
Monthly Operating Report for Small Business Under Chapter 11
12/17
Month:
___________
Date report filed:
_____11/20/2019_____
_ MM / DD / YYYY
Line of business: ________________________
NAISC code:
___________
In accordance with title 28, section 1746, of the United States Code, I declare under penalty of perjury
that I have examined the following small business monthly operating report and the accompanying
attachments and, to the best of my knowledge, these documents are true, correct, and complete.
Responsible party:
____________________________________________
Original signature of responsible party
____________________________________________
Printed name of responsible party
____________________________________________
1. Questionnaire
Answer all questions on behalf of the debtor for the period covered by this report, unless otherwise indicated.
Yes
No
N/A
If you answer No to any of the questions in lines 1-9, attach an explanation and label it Exhibit A.
1.
Did the business operate during the entire reporting period?

2.
Do you plan to continue to operate the business next month?

3.
Have you paid all of your bills on time?

4.
Did you pay your employees on time?

5.
Have you deposited all the receipts for your business into debtor in possession (DIP) accounts?

6.
Have you timely filed your tax returns and paid all of your taxes?

7.
Have you timely filed all other required government filings?

8.
Are you current on your quarterly fee payments to the U.S. Trustee or Bankruptcy Administrator?

9.
Have you timely paid all of your insurance premiums?

If you answer Yes to any of the questions in lines 10-18, attach an explanation and label it Exhibit B.
10. Do you have any bank accounts open other than the DIP accounts?

11. Have you sold any assets other than inventory?

12. Have you sold or transferred any assets or provided services to anyone related to the DIP in any way?

13. Did any insurance company cancel your policy?

14. Did you have any unusual or significant unanticipated expenses?

15. Have you borrowed money from anyone or has anyone made any payments on your behalf?

16. Has anyone made an investment in your business?

Check if this is an
amended filing
Debtor Name __________________________________________________________________
United States Bankruptcy Court for the: _______ District of ________
Case number: _________________________
Fill in this information to identify the case:
Panthera Enterprises LLC
Southern District of West Virginia
2:19-bk-00787
Oct. 2019
Professional Training
611430
James V. Punelli
James V. Punelli
✔
✔
✔
✔
✔
✔
✔
✔
✔
✔
✔
✔
✔
✔
✔
✔
No. 2:19-bk-00787 Doc 63 Filed 11/20/19 Entered 11/20/19 16:32:50 Page 1 of 18

18. Have you allowed any checks to clear the bank that were issued before you filed bankruptcy?

2. Summary of Cash Activity for All Accounts
19. Total opening balance of all accounts
This amount must equal what you reported as the cash on hand at the end of the month in the previous
month. If this is your first report, report the total cash on hand as of the date of the filing of this case.
$ __________
20. Total cash receipts
Attach a listing of all cash received for the month and label it Exhibit C. Include all
cash received even if you have not deposited it at the bank, collections on
receivables, credit card deposits, cash received from other parties, or loans, gifts, or
payments made by other parties on your behalf. Do not attach bank statements in
lieu of Exhibit C.
Report the total from Exhibit C here.
$ __________
21. Total cash disbursements
Attach a listing of all payments you made in the month and label it Exhibit D. List the
date paid, payee, purpose, and amount. Include all cash payments, debit card
transactions, checks issued even if they have not cleared the bank, outstanding
checks issued before the bankruptcy was filed that were allowed to clear this month,
and payments made by other parties on your behalf. Do not attach bank statements
in lieu of Exhibit D.
Report the total from Exhibit D here.
- $ __________
22. Net cash flow
Subtract line 21 from line 20 and report the result here.
This amount may be different from what you may have calculated as net profit.
+ $ __________
23. Cash on hand at the end of the month
Add line 22 + line 19. Report the result here.
Report this figure as the cash on hand at the beginning of the month on your next operating report.
This amount may not match your bank account balance because you may have outstanding checks that
have not cleared the bank or deposits in transit.
= $ __________
3. Unpaid Bills
Attach a list of all debts (including taxes) which you have incurred since the date you filed bankruptcy but
have not paid. Label it Exhibit E. Include the date the debt was incurred, who is owed the money, the
purpose of the debt, and when the debt is due. Report the total from Exhibit E here.
24. Total payables
$ ____________
(Exhibit E)
Panthera Enterprises LLC
2:19-bk-00787
✔
✔
-81.32
172,378.20
136,167.08
36,211.12
36,129.80
5,840.00
No. 2:19-bk-00787 Doc 63 Filed 11/20/19 Entered 11/20/19 16:32:50 Page 2 of 18

Debtor Name
_______________________________________________________
Case number_____________________________________
Official Form 425C
Monthly Operating Report for Small Business Under Chapter 11
page 3
4. Money Owed to You
Attach a list of all amounts owed to you by your customers for work you have done or merchandise you
have sold. Include amounts owed to you both before, and after you filed bankruptcy. Label it Exhibit F.
Identify who owes you money, how much is owed, and when payment is due. Report the total from
Exhibit F here.
25. Total receivables
$ ____________
(Exhibit F)
5. Employees
26. What was the number of employees when the case was filed?
____________
27. What is the number of employees as of the date of this monthly report?
____________
6. Professional Fees
28. How much have you paid this month in professional fees related to this bankruptcy case?
$ ____________
29. How much have you paid in professional fees related to this bankruptcy case since the case was filed?
$ ____________
30. How much have you paid this month in other professional fees?
$ ____________
31. How much have you paid in total other professional fees since filing the case?
$ ____________
7. Projections
Compare your actual cash receipts and disbursements to what you projected in the previous month.
Projected figures in the first month should match those provided at the initial debtor interview, if any.
Column A
Column B
Column C
Projected
–
Actual
=
Difference
Copy lines 35-37 from
the previous month’s
report.
Copy lines 20-22 of
this report.
Subtract Column B
from Column A.
32. Cash receipts
$ ____________
–
$ ____________
=
$ ____________
33. Cash disbursements
$ ____________
–
$ ____________
=
$ ____________
34. Net cash flow
$ ____________
–
$ ____________
=
$ ____________
35. Total projected cash receipts for the next month:
$ ____________
36. Total projected cash disbursements for the next month:
- $ ____________
37. Total projected net cash flow for the next month:
= $ ____________
Panthera Enterprises LLC
2:19-bk-00787
- 0 -
- 0 -
- 0 -
- 0 -
- 0 -
- 0 -
229,833.00
172,378.20
57,454.80
192,000.00
136,167.08
55,832.92
37,833.00
36,211.12
1,621.88
57,833.00
57,840.00
-7.00
679,614.11
No. 2:19-bk-00787 Doc 63 Filed 11/20/19 Entered 11/20/19 16:32:50 Page 3 of 18

Debtor Name
_______________________________________________________
Case number_____________________________________
Official Form 425C
Monthly Operating Report for Small Business Under Chapter 11
page 4
8. Additional Information
If available, check the box to the left and attach copies of the following documents.
38. Bank statements for each open account (redact all but the last 4 digits of account numbers).
39. Bank reconciliation reports for each account.
40. Financial reports such as an income statement (profit & loss) and/or balance sheet.
41. Budget, projection, or forecast reports.
42. Project, job costing, or work-in-progress reports.
Panthera Enterprises LLC
2:19-bk-00787
✔
✔
✔
✔
No. 2:19-bk-00787 Doc 63 Filed 11/20/19 Entered 11/20/19 16:32:50 Page 4 of 18

1.
2.
3.
4.
No Employees.
5.
6.
No tax filings or payments due during reporting period.
7.
8.
9.
No insurance or premiums due during reporting period.
Exhibit A: Section 1, Questions 1-9
Panthera Enterprises LLC
Case 2:19-bk-00787
Reporting Period: Oct 2019
No. 2:19-bk-00787 Doc 63 Filed 11/20/19 Entered 11/20/19 16:32:50 Page 5 of 18

10.
Pre-filing accounts with Atlantic Union were left open until
September receivables cleared. These accounts were
closed before end of October.
11.
12.
13.
14.
15.
16.
17.
18.
Exhibit B: Section 1, Questions 10-18
Panthera Enterprises LLC
Case 2:19-bk-00787
Reporting Period: Oct 2019
No. 2:19-bk-00787 Doc 63 Filed 11/20/19 Entered 11/20/19 16:32:50 Page 6 of 18

Amount
Source
Reason
$172,000.00
DEA Training Contract
Income
$378.20
Misc Income - Panthera Worldwide
To pay phone bill on behalf of PW
Exhibit C: Section 2, Cash Receipts
Panthera Enterprises LLC
Case 2:19-bk-00787
Reporting Period: Oct 2019
No. 2:19-bk-00787 Doc 63 Filed 11/20/19 Entered 11/20/19 16:32:50 Page 7 of 18

Amount
Date Paid
Payee
Purpose
$196.88
7-Oct-19
Vonage
Telephone Expenses
$134,160.00
21-Oct-19
Panthera Training Center
DEA Contract
$10.40
21-Oct-19
USPS
Postage
$10.40
21-Oct-19
USPS
Postage
$10.40
21-Oct-19
USPS
Postage
$330.00
21-Oct-19
US Trustee
Qtrly Fee, plus $5 cashier check charg
$199.00
23-Oct-19
Leesburg Junction
Leesburg Office Fee
$450.00
23-Oct-19
ARB Investments
ERP Cloud Fee
$800.00
28-Oct-19
James Punelli
Misc Fees - Travel and Expenses
$136,167.08 Total
Exhibit D: Section 2, Disbursements
Panthera Enterprises LLC
Case 2:19-bk-00787
Reporting Period: Oct 2019
*Paid in error, will be refunded and shown
on the November operating report
*
No. 2:19-bk-00787 Doc 63 Filed 11/20/19 Entered 11/20/19 16:32:50 Page 8 of 18

Amount
Date Incurred
Date Due
Debtor
Purpose
800.00
$
1-Oct-19
15-Nov-19
James Punelli
Travel and other expenses
450.00
$
16-Oct-19
15-Nov-19
ARB / Global Invoice Technologies
ERP System
4,590.00
$
30-Sep-19
30-Oct-19
Panthera Training Center
Training COGS
5,840.00
$
Total
Exhibit E: Section 3, Payables
Panthera Enterprises LLC
Case 2:19-bk-00787
Reporting Period: Oct 2019
No. 2:19-bk-00787 Doc 63 Filed 11/20/19 Entered 11/20/19 16:32:50 Page 9 of 18

Pre-filing
Post-filing
Due Date
Customer
Notes
5,833.00
$
23-Jan-19
Drug Enforcement Administration (DEA) Training Class
Unknown
31-Oct-19
Panthera Training
Additional Rents (PT refuses to report)
Unknown
30-Sep-19
Panthera Training
Additional Rents (PT refuses to report)
Unknown
31-Aug-19
Panthera Training
Additional Rents (PT refuses to report)
6,821.22
$
1-Aug-19
Panthera Training
Pers. Property Taxes - 2019
22,849.04
$
1-Aug-19
Panthera Training
Real Estate Taxes - 2019
Unknown
31-Jul-19
Panthera Training
Additional Rents (PT refuses to report)
29,100.00
$
30-Jun-19
Panthera Training
Additional Rents due under lease
9,485.00
$
31-May-19
Panthera Training
Additional Rents due under lease
416,000.00
$
1-Jun-19
Panthera Training
Future rents due on lease (monthly)
58,637.00
$
30-Apr-19
Panthera Training
Additional Rents due under lease
52,418.00
$
31-Dec-18
Panthera Training
Additional Rents due under lease
4,155.00
$
30-Nov-18
Panthera Training
Additional Rents due under lease
64,674.00
$
31-Oct-18
Panthera Training
Additional Rents due under lease
174,879.04
$
1-Oct-18
Panthera Training
Liability Ins. due under lease
6,853.67
$
1-Sep-18
Panthera Training
Pers. Property Taxes - 2018 prorated
14,604.57
$
1-Sep-18
Panthera Training
Real Estate Taxes - 2018 prorated
58,304.57
$
1-Jun-18
Panthera Training
Liability Ins. due under lease
$(93,640.00)
Various
Panthera Training (credits - pre-filing)
Subcontract Fee Credits
$ 830,974.11
Total
Exhibit F: Section 4, Receivables
Panthera Enterprises LLC
Case 2:19-bk-00787
Reporting Period: Oct 2019
No. 2:19-bk-00787 Doc 63 Filed 11/20/19 Entered 11/20/19 16:32:50 Page 10 of
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Account Closed
No. 2:19-bk-00787 Doc 63 Filed 11/20/19 Entered 11/20/19 16:32:50 Page 11 of
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Account Closed
No. 2:19-bk-00787 Doc 63 Filed 11/20/19 Entered 11/20/19 16:32:50 Page 12 of
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No. 2:19-bk-00787 Doc 63 Filed 11/20/19 Entered 11/20/19 16:32:50 Page 13 of
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Report Date & Time : 11/11/2019
10:27:43AM
Page 1 of 1
Panthera Enterprises, LLC
Reconciled Report forAccess National Bank - M
For the Period From 10/1/2019 To 10/31/2019
Voucher Date
Voucher Type
Voucher ID
Check No
Deposit
Withdrawal
Recon. Date
Paid To/Received From
10/07/2019
General Journal
71
7.55
0.00
10/31/2019
Transfer From Op Account (10/4)
7.55
0.00
Total
Account Closed
No. 2:19-bk-00787 Doc 63 Filed 11/20/19 Entered 11/20/19 16:32:50 Page 14 of
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Report Date & Time : 11/11/2019
10:28:09AM
Page 1 of 1
Panthera Enterprises, LLC
Reconciled Report forAccess National Bank - Op
For the Period From 10/1/2019 To 10/31/2019
Voucher Date
Voucher Type
Voucher ID
Check No
Deposit
Withdrawal
Recon. Date
Paid To/Received From
10/07/2019
General Journal
71
0.00
7.55
10/31/2019
Transfer to Main Account (10/4)
10/07/2019
General Journal
71
0.00
100.00
10/31/2019
SunTrust Transfer Out (10/4)
10/07/2019
General Journal
71
100.00
0.00
10/31/2019
Old Line Transfer In (10/4)
10/07/2019
General Journal
71
181.33
0.00
10/31/2019
Misc Income (10/4)
10/07/2019
General Journal
71
196.87
0.00
10/31/2019
Misc Income (10/7)
10/07/2019
Manual Check
OCT/7/38/2019
10071901
0.00
196.88
10/31/2019
Vonage
478.20
304.43
Total
Account Closed
No. 2:19-bk-00787 Doc 63 Filed 11/20/19 Entered 11/20/19 16:32:50 Page 15 of
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Report Date & Time : 11/11/2019
10:28:28AM
Page 1 of 1
Panthera Enterprises, LLC
Reconciled Report forSunTrust
For the Period From 10/1/2019 To 10/31/2019
Voucher Date
Voucher Type
Voucher ID
Check No
Deposit
Withdrawal
Recon. Date
Paid To/Received From
10/07/2019
General Journal
71
100.00
0.00
10/31/2019
SunTrust Transfer In (10/4)
10/19/2019
Manual Check
OCT/19/39/2019
10191901
0.00
10.40
10/31/2019
US Postal Service
10/19/2019
Manual Check
OCT/19/40/2019
10191902
0.00
10.40
10/31/2019
US Postal Service
10/19/2019
Manual Check
OCT/19/41/2019
10191903
0.00
10.40
10/31/2019
US Postal Service
10/21/2019
Cash Receipt
OCT/1
172,000.00
0.00
10/31/2019
DEA
10/21/2019
General Journal
72
0.00
134,160.00
10/31/2019
PTC Payment - Sept DEA Class
10/21/2019
Manual Check
OCT/21/42/2019
10231901
0.00
330.00
10/31/2019
US Trustee
10/25/2019
Payment
OCT/25/18/2019
10251901
0.00
450.00
10/31/2019
ARB Inv / Global Systems Technologies Inc.
10/25/2019
Payment
OCT/25/19/2019
10251902
0.00
199.00
10/31/2019
Leesburgjunction.com
10/29/2019
Payment
OCT/29/20/2019
10281901
0.00
800.00
10/31/2019
James Punelli
172,100.00
135,970.20
Total
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Oct 2019 - Panthera Monthly Operating Report

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