Monthly Operating Report, Official Form 425C, Feb 2020 — No. 2:19-bk-00787 (Doc 110)

Summary

Official Form 425C, Monthly Operating Report for Small Business Under Chapter 11, in No. 2:19-bk-00787, Northern District of West Virginia, listing Feb 2020 and a report date of 03/19/2020, filed March 20, 2020 as Doc 110. The form lists the line of business as Professional Training and names James V. Punelli as responsible party. Attached pages include a SunTrust statement for 02/01/2020 - 02/29/2020 showing a Beginning Balance of $56,242.74, Deposits/Credits of $232,360.00, Withdrawals/Debits of $252,176.40 and an Ending Balance of $36,426.34.

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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:
___________
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:
___________________________________
___
__
__
__
___
__
__
__
__ _______________________________
___________________________________
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
1BOUIFSB&OUFSQSJTFT
--$

'FC

Northern District of West Virginia
Feb 2020
 03/19/2020
 Professional Training
611430
James V. Punelli
James V. Punelli

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Debtor Name
_______________________________________________________
Case number_____________________________________
Official Form 425C
Monthly Operating Report for Small Business Under Chapter 11
page 2
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
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)
9
9
1BOUIFSB&OUFSQSJTFT
--$

56,242.74
232,360.00
252,176.40
(20,183.60)
36,426.34
No. 2:19-bk-00787    Doc 110    Filed 03/20/20    Entered 03/20/20 14:54:06    Page 2 of
14

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 m
- $ ____________
37. Total projected net cash flow for the next month:
= $ ____________
1BOUIFSB&OUFSQSJTFT
--$

- 0 -
- 0 -
- 0 -
- 0 -
- 0 -
- 0 -
- 0 -
3,500
(3,500)
849,128.60
34,160.00
31,650.00
2,150.00
232,360.00
252,176.00
(19,816.00)
(198,200.00)
(220,526.00)
21,966.00
No. 2:19-bk-00787    Doc 110    Filed 03/20/20    Entered 03/20/20 14:54:06    Page 3 of
14

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.

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No. 2:19-bk-00787    Doc 110    Filed 03/20/20    Entered 03/20/20 14:54:06    Page 10 of
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SUNTRUST BANK
PO BOX 305183
NASHVILLE TN 37230-5183
Member FDIC
PRIMARY BUSINESS CHECKING
616
02/01/2020 - 02/29/2020
Beginning Balance
$56,242.74
Deposits/Credits
$232,360.00
Checks
$.00
Withdrawals/Debits
$252,176.40
Ending Balance
$36,426.34
Average Balance
$28,058.85
Average Collected Balance
$28,058.85
Number of Days in Statement Period
29
1616
Not enrolled
For more information about SunTrust's Overdraft Services, visit www.suntrust.com/overdraft.
02/03
168,000.00
015 TREAS 310 MISC PAY 453814238151100
02/18
34,160.00
INCOMING FEDWIRE CR TRN #006125
02/26
30,200.00
INCOMING FEDWIRE CR TRN #010446
Deposits/Credits:
3
Total Items Deposited: 0
02/03
22,232.40
OUTGOING FEDWIRE DR TRN #009155
02/03
1,449.00
PANTHERA ENTERPR ACH PRFUND -SETT-A.S1PREM
02/04
168,000.00
OUTGOING FEDWIRE DR TRN #016136
02/12
30,200.00
OUTGOING FEDWIRE DR TRN #009207
02/19
30,200.00
OUTGOING FEDWIRE DR TRN #003489
02/21
95.00
ACCOUNT ANALYSIS FEE
Withdrawals/Debits:
6
02/01
02/03
02/04
02/12
56,242.74
200,561.34
32,561.34
2,361.34
56,242.74
200,561.34
32,561.34
2,361.34
02/18
02/19
02/21
02/26
36,521.34
6,321.34
6,226.34
36,426.34
36,521.34
6,321.34
6,226.34
36,426.34
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.
580220
66/E00/0175/0/72
1616
02/29/2020
Page 1 of 1
PANTHERA ENTERPRISES, LLC
215 DEPOT CT SE
LEESBURG VA 20175-3017
Questions? Please call
1-800-786-8787
SunTrust and BB&T have merged to become Truist.
Until our separate operating systems are fully integrated, we'll continue to use the SunTrust name.
For now, keep banking as you always have.
Find details about SunTrust now Truist, your account(s), and the Truist Disclosure at any
SunTrust branch, suntrust.com/truist or 800.SUNTRUST.
Account Type
Account Number
Statement Period
Description
Amount
Description
Amount
Account Number
Protected By
Date
Amount
Serial #
Description
Date
Paid
Amount
Serial #
Description
Date
Balance
Collected
Balance
Date
Balance
Collected
Balance
Account
Summary
Overdraft
Protection
Deposits/
Credits
Withdrawals/
Debits
Balance
Activity
History
Account
Statement
ELECTRONIC/ACH CREDIT
ACH PREFUNDING SETTLEMENT
No. 2:19-bk-00787    Doc 110    Filed 03/20/20    Entered 03/20/20 14:54:06    Page 11 of
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