09 16 19 Start-Up Letter to Debtor
- Date
- 2019-12-20
Summary
An Official Form 425C Monthly Operating Report for Small Business Under Chapter 11 filed by Panthera Enterprises LLC for November 2019, in Case No. 2:19-bk-00787, filed December 20, 2019 as Doc 80. The report lists a total opening balance of $36,129.80, cash receipts of $0.00, disbursements of $2,083.48 and cash on hand at month end of $34,046.32, with total receivables of $796,357.11 and no employees. Exhibit C notes that an October 21, 2019 payment of $134,160.00 to Panthera Training Center was not refunded in November as planned. Exhibit D lists the month's disbursements, and Exhibit F lists receivables owed by Panthera Training for rents, taxes and insurance under a lease. The 12-page filing attaches a bank statement and a bank reconciliation report and is signed by the debtor's responsible party.
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Full text
Fill in this information to identify the case:
No. 2:19-bk-00787 Doc 80 Filed 12/20/19 Entered 12/20/19 11:51:03 Page 1 of 12
Debtor Name Panthera Enterprises LLC
__________________________________________________________________
_______ District
United States Bankruptcy Court for the: Southern ________
Districtofof West Virginia
2:19-bk-00787 Check if this is an
Case number: _________________________
amended filing
Official Form 425C
Monthly Operating Report for Small Business Under Chapter 11 12/17
Month: Nov. 2019
___________ Date report filed: 12/19/2019
___________
MM / DD / YYYY
Line of business: Professional Training
________________________ NAISC code: 611430
___________
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: James V. Punelli
____________________________________________
Original signature of responsible party ____________________________________________
Printed name of responsible party James V. Punelli
____________________________________________
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? X
✔
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? ✔
Official Form 425C Monthly Operating Report for Small Business Under Chapter 11 page 1
No. 2:19-bk-00787 Doc 80 Filed 12/20/19 Entered 12/20/19 11:51:03 Page 2 of 12
Debtor Name Panthera Enterprises LLC
_______________________________________________________ Case 2:19-bk-00787
number_____________________________________
17. Have you paid any bills you owed before you filed bankruptcy? ✔
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
36,129.80
$ __________
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.
0.00
$ __________
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.
- $ __________
2,083.48
Report the total from Exhibit D here.
22. Net cash flow
-2,083.48
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.
34,046.32
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 0.00
$ ____________
(Exhibit E)
Official Form 425C Monthly Operating Report for Small Business Under Chapter 11 page 2
No. 2:19-bk-00787 Doc 80 Filed 12/20/19 Entered 12/20/19 11:51:03 Page 3 of 12
Debtor Name Panthera Enterprises LLC
_______________________________________________________ Case 2:19-bk-00787
number_____________________________________
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.
796,357.11
25. Total receivables $ ____________
(Exhibit F)
5. Employees
26. What was the number of employees when the case was filed?
-0-
____________
27. What is the number of employees as of the date of this monthly report?
-0-
____________
6. Professional Fees
0.00
$ ____________
28. How much have you paid this month in professional fees related to this bankruptcy case?
0.00
$ ____________
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?
0.00
$ ____________
31. How much have you paid in total other professional fees since filing the case? 0.00
$ ____________
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 Copy lines 20-22 of Subtract Column B
the previous month’s this report. from Column A.
report.
57,833.00
$ ____________ – 0.00
$ ____________
= 57,833.00
$ ____________
32. Cash receipts
57,840.00 2,038.48 = 55,801.52
33. Cash disbursements $ ____________ – $ ____________ $ ____________
-7.00 – -2,038.48 = -2,031.48
34. Net cash flow $ ____________ $ ____________ $ ____________
168,000.00
35. Total projected cash receipts for the next month: $ ____________
36. Total projected cash disbursements for the next month: - $ ____________
169,450.00
37. Total projected net cash flow for the next month:
= $ ____________
-1,450.00
Official Form 425C Monthly Operating Report for Small Business Under Chapter 11 page 3
No. 2:19-bk-00787 Doc 80 Filed 12/20/19 Entered 12/20/19 11:51:03 Page 4 of 12
Debtor Name Panthera Enterprises LLC
_______________________________________________________ Case 2:19-bk-00787
number_____________________________________
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.
Official Form 425C Monthly Operating Report for Small Business Under Chapter 11 page 4
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No. 2:19-bk-00787 Doc 80 Filed 12/20/19 Entered 12/20/19 11:51:03 Page 5 of 12
Exhibit A: Section 1, Questions 1-9
Panthera Enterprises LLC
Case 2:19-bk-00787
Reporting Period: Nov 2019
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.
No. 2:19-bk-00787 Doc 80 Filed 12/20/19 Entered 12/20/19 11:51:03 Page 6 of 12
Exhibit C: Section 2, Cash Receipts
Panthera Enterprises LLC
Case 2:19-bk-00787
Reporting Period: Nov 2019
Amount Source Reason
$ - Please note that there was a miscommunication/oversight during the month of November and the October
21, 2019 $134,160.00 payment to Panthera Training Center was not refunded during the month of
November as planned, but has since been returned in December and will reflect the same on the next
report.
No. 2:19-bk-00787 Doc 80 Filed 12/20/19 Entered 12/20/19 11:51:03 Page 7 of 12
Exhibit D: Section 2, Disbursements
Panthera Enterprises LLC
Case 2:19-bk-00787
Reporting Period: Nov 2019
Amount Date Paid Payee Purpose
$199.00 1-Nov-19 Leesburg Junction Leesburg Office Fee
$450.00 1-Nov-19 ARB Investments ERP Cloud Fee
$800.00 1-Nov-19 James Punelli Misc Fees - Travel and Expenses
$99.00 4-Nov-19 Agents & Incorporations Inc Registered Agent Fee
$147.06 20-Nov-19 Omni Hotel - Pittsburgh Hotel for Meeting with Attorneys
$110.00 21-Nov-19 SunTrust Bank Bank Fees
$278.42 20-Nov-19 SpringHill Suites - Wheeling Hotel for Court Hearing
$2,083.48 Total
No. 2:19-bk-00787 Doc 80 Filed 12/20/19 Entered 12/20/19 11:51:03 Page 8 of 12
Exhibit F: Section 4, Receivables
Panthera Enterprises LLC
Case 2:19-bk-00787
Reporting Period: Nov 2019
Pre-filing Post-filing Due Date Customer Notes
Unknown 30-Nov-19 Panthera Training Additional Rents (PT refuses to report)
$ 3,216.00 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
$ 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
$ 364,000.00 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
$ (73,640.00) Various Panthera Training (credits - pre-filing) Advanced payments made against A/R
$ 796,357.11 Total
SUNTRUST BANK
No. 2:19-bk-00787
PO BOX 305183
Doc 80 Filed 12/20/19 Entered 12/20/19 11:51:03Page 1 of 1 9 of 12
Page
66/E00/0175/0/72
NASHVILLE TN 37230-5183 1616
11/30/2019
Account
Statement
PANTHERA ENTERPRISES, LLC Questions? Please call
215 DEPOT CT SE 1-800-786-8787
LEESBURG VA 20175-3017
Important: Fee Changes.
SunTrust Bank completed an annual review of treasury and payment services pricing.
As of January 1, 2020, fees will change for some treasury and payment services, including changes to the billing
methodology for Cash Vault services. Visit www.suntrust.com/2020pricingchanges for a full list of impacted
services. SunTrust has reviewed all service descriptions and definitions for Deposit and Treasury Management
fees for accuracy. Details of the changes can be found at www.suntrust.com/2020ServiceCodes.
Account Account Type Account Number Statement Period
Summary
PRIMARY BUSINESS CHECKING 1616 11/01/2019 - 11/30/2019
Description Amount Description Amount
Beginning Balance $36,129.80 Average Balance $34,482.55
Deposits/Credits $.00 Average Collected Balance $34,482.55
Checks $.00 Number of Days in Statement Period 30
Withdrawals/Debits $2,083.48
Ending Balance $34,046.32
Overdraft Account Number Protected By
Protection 1616 Not enrolled
For more information about SunTrust's Overdraft Services, visit www.suntrust.com/overdraft.
Withdrawals/ Date Amount Serial # Description
Debits Paid
11/01 1,449.00 ACH PREFUNDING SETTLEMENT
PANTHERA ENTERPR ACH PRFUND -SETT-A.S1PREM
11/04 99.00 CHECK CARD PURCHASE TR DATE 11/03
AGENTS AND CORPORATION 302-5750877 DE
11/20 147.06 CHECK CARD PURCHASE TR DATE 11/19
OMNI WILLIAM PENN PITTSBURGH PA
11/21 110.00 ACCOUNT ANALYSIS FEE
11/29 278.42 CHECK CARD PURCHASE TR DATE 11/27
SPRINGHILL SUITES WHEELING WV
Withdrawals/Debits: 5
Balance Date Balance Collected Date Balance Collected
Activity Balance Balance
History 11/01 34,680.80 34,680.80 11/21 34,324.74 34,324.74
11/04 34,581.80 34,581.80 11/29 34,046.32 34,046.32
11/20 34,434.74 34,434.74
The Ending Daily Balances provided do not reflect pending transactions or holds that may have been outstanding when your transactions posted
that day. If your available balance wasn't sufficient when transactions posted, fees may have been assessed.
706411 Member FDIC
Report Date & Time : 12/19/2019 11:50:17AM Panthera Enterprises, LLC Page 1 of 1
Reconciled Report forSunTrust
No. 2:19-bk-00787 Doc 80 For
Filed 12/20/19
the Period Entered
From 11/1/2019 12/20/19 11:51:03
To 11/30/2019 Page 10 of
12
Voucher Date Voucher ID Voucher Type Check No Paid To/Received From Deposit Withdrawal Recon. Date
11/01/2019 NOV/1/21/2019 Payment 11011901 ARB Inv / Global Systems Technologies Inc. 0.00 450.00 11/30/2019
11/01/2019 NOV/1/22/2019 Payment 11011902 James Punelli 0.00 800.00 11/30/2019
11/01/2019 NOV/1/23/2019 Payment 3 Leesburgjunction.com 0.00 199.00 11/30/2019
11/02/2019 NOV/2/43/2019 Manual Check 11021901 INCnow Agent and Corporations Inc 0.00 99.00 11/30/2019
11/20/2019 NOV/20/8/2019 Misc Payment 11201901 Omni Hotel - Pittsburgh 0.00 147.06 11/30/2019
11/21/2019 NOV/21/44/2019 Manual Check 11211901 SunTrust Bank 0.00 110.00 11/30/2019
11/29/2019 NOV/29/9/2019 Misc Payment 11291901 Springhill Suites - Wheeling 0.00 278.42 11/30/2019
Total 0.00 2,083.48
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No. 2:19-bk-00787 Doc 80 Filed 12/20/19 Entered 12/20/19 11:51:03 Page 12 of
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