09 16 19 Start-Up Letter to Debtor
- Date
- 2020-05-19
Summary
An Official Form 425C Monthly Operating Report for Small Business Under Chapter 11 for Panthera Enterprises LLC, Case number 2:19-bk-00787, in the United States Bankruptcy Court for the Southern District of West Virginia, for the month of April 2020. It reports a total opening balance of $31,741.29, total cash receipts of $30,000.00, total cash disbursements of $57,258.82, net cash flow of ($27,258.82) and cash on hand at the end of the month of $4,482.47, with total payables of -0- and total receivables of $785,128.60. It reports no employees, no professional fees paid, a line of business of Professional Training under NAISC code 611430, and projected cash receipts of $60,000.00 for the next month. The 15-page filing, docketed as Doc 168 on June 17, 2020, attaches receipt and disbursement listings, a bank statement, an income statement and a balance sheet.
Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used
Full text
Fill in this information to identify the case:
Debtor Name _ Panthera Enterprises LLC 15
United States Bankruptcy Court for the: Southern District of West Virginia @
Case number: 2:19-bk-00787
Official Form 425C
ed 06/17/20 10:22:46 Page 1 of
LJ Check if this is an
amended filing
Monthly Operating Report for Small Business Under Chapter 11 12/17
Month: April 2020 Date report filed: 05/19/2020
MM/DD/YYYY
Line of business: _Professional Training NAISC code: 611430
In accordance with title 28, section 1746, of the United States Code, | declare under penalty of perjury
that | 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.
Original signature of responsible party pe ha. ~
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.
Did the business operate during the entire reporting period?
Do you plan to continue to operate the business next month?
Have you paid all of your bills on time?
Did you pay your employees on time?
Have you deposited all the receipts for your business into debtor in possession (DIP) accounts?
Have you timely filed your tax returns and paid all of your taxes?
Have you timely filed all other required government filings?
Are you current on your quarterly fee payments to the U.S. Trustee or Bankruptcy Administrator?
oO oO NO a FO RY =
Have you timely paid all of your insurance premiums?
SEQORNKCRARAN
OOOOOOODOD
ODOCOBOBOOD
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?
Official Form 425C Monthly Operating Report for Small Business Under Chapter 11
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page 1
No. 2:19-bk-00787 Doc 168 Filed 06/17/20 Entered 06/17/20 10:22:46 Page 2 of
Debtor Name Panthera Enterprises LLC
_______________________________________________________
15 Case 2:19-bk-00787
number_____________________________________
17. Have you paid any bills you owed before you filed bankruptcy? X
18. Have you allowed any checks to clear the bank that were issued before you filed bankruptcy? X
2. Summary of Cash Activity for All Accounts
19. Total opening balance of all accounts
$ 31,741.29
__________
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. 30,000.00
$ __________
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.
- $ __________
57,258.82
Report the total from Exhibit D here.
22. Net cash flow
Subtract line 21 from line 20 and report the result here. + $ __________
(27.258.82)
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. = $ __________
4,482.47
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 -
____________
(Exhibit E)
Official Form 425C Monthly Operating Report for Small Business Under Chapter 11 page 2
No. 2:19-bk-00787 Doc 168 Filed 06/17/20 Entered 06/17/20 10:22:46 Page 3 of
Debtor Name Panthera Enterprises LLC
_______________________________________________________
15 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.
25. Total receivables 785,128.60
$ ____________
(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-
$ ____________
28. How much have you paid this month in professional fees related to this bankruptcy case?
$ - 0-
____________
29. How much have you paid in professional fees related to this bankruptcy case since the case was filed?
-0-
$ ____________
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? $ - 0-
____________
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.
$ 120,000.00
____________ – $ 30,000.00
____________
= 90,000.00
$ ____________
32. Cash receipts
=
33. Cash disbursements 87,000.00
$ ____________ – 57,258.82
$ ____________ 30,258.82
$ ____________
– =
34. Net cash flow $ 33,000.00
____________ $ (27,258.82)
____________ $ 60,258.82
____________
35. Total projected cash receipts for the next month: $ 60,000.00
____________
36. Total projected cash disbursements for the next month: - $ ____________
65,000.00
37. Total projected net cash flow for the next month:
= $ (5,000.00)
____________
Official Form 425C Monthly Operating Report for Small Business Under Chapter 11 page 3
No. 9-19-0k-0 787 DOC 168 Filed 06/17/20 Entered 06/17/20). 19:62:6879% 29° 4 of
Debtor Name era Enterprises 15 Case number.
|] 8. Additional Information
If available, check the box to the left and attach copies of the following documents.
W 38. Bank statements for each open account (redact all but the last 4 digits of account numbers).
Cf 39. Bank reconciliation reports for each account.
Cf 40. Financial reports such as an income statement (profit & loss) and/or balance sheet.
LJ) 41. Budget, projection, or forecast reports.
J) 42. Project, job costing, or work-in-progress reports.
Official Form 425C Monthly Operating Report for Small Business Under Chapter 11 page 4
No. 2:19-bk-00787 Doc168 Filed 06/17/20 Entered 06/17/20 10:22:46 Page 5 of
15
Exhibit A: Section 1, Questions 1-9
Panthera Enterprises LLC
Case 2:19-bk-00787
Reporting Period: April 2020
No Employees.
No tax filings or payments due during reporting period.
W ANAM PWNE
No. 2:19-bk-00787 Doc168 Filed 06/17/20 Entered 06/17/20 10:22:46 Page 6 of
15
Exhibit B: Section 1, Questions 10-18
Panthera Enterprises LLC
Case 2:19-bk-00787
Reporting Period: April 2020
10.
11.
12.
13.
14.
15.
16.
17.
18.
No. 2:19-bk-00787 Doc168 Filed 06/17/20 Entered 06/17/20 10:22:46 Page 7 of
15
Exhibit C: Section 2, Cash Receipts
Panthera Enterprises LLC
Case 2:19-bk-00787
Reporting Period: April 2020
Amount Date Received Source Reason
S 30,000.00 16-Apr-20 WV State Auditor Reversed payment for land redemption from March
S 30,000.00 Total
No. 2:19-bk-00787 Doc168 Filed 06/17/20 Entered 06/17/20 10:22:46 Page 8 of
Exhibit D: Section 2, Disbursements
Panthera Enterprises LLC
Case 2:19-bk-00787
Reporting Period: April 2020
Amount Date Paid Payee Purpose
$30,000.00 1-Apr-20 WV State Auditor Land redemption payment
$675.00 1-Apr-20 WV State Auditor Online payment fee
$206.87 6-Apr-20 Vonage Telephones
$35.00 20-Apr-20 SunTrust Bank Bank fees
$219.20 20-Apr-20 PTG Internet/email hosting fees
$23,408.75 20-Apr-20 NFP Insurance Property casualty insurance for 12 months
$900.00 20-Apr-20 ARB Investments ERP cloud fee
$1,600.00 20-Apr-20 James Punelli Misc Fees - March travel and expenses
$199.00 20-Apr-20 Leesburg Junction Rent
$15.00 30-Apr-20 SunTrust Bank Bank fees
357,258.82 Total
No. 2:19-bk-00787 Doc168 Filed 06/17/20 Entered 06/17/20 10:22:46 Page 9 of
15
Exhibit E: Section 3, Payables
Panthera Enterprises LLC
Case 2:19-bk-00787
Reporting Period: April 2020
Amount Date Incurred Date Due Debtor Purpose
None
No. 2:19-bk-00787
Doc 168 Filed 06/17/20 Entered 06/17/20 10:22:46
15
Page 10 of
Exhibit F: Section 4, Receivables
Panthera Enterprises LLC
Case 2:19-bk-00787
Reporting Period: April 2020
Pre-filing Post-filing Due Date Customer Notes
Unknown = 30-Apr-20 Panthera Training Additional Rents (PT not reported)
Unknown 31-Mar-20 Panthera Training Additional Rents (PT not reported)
Unknown 29-Feb-20 Panthera Training Additional Rents (PT not reported)
S 20,000.00 1-Apr-20 = Panthera Training Admin Fee
S 20,000.00 1-Mar-20 Panthera Training Admin Fee
S 20,000.00 1-Feb-20 Panthera Training Admin Fee
S 20,000.00 1-Jan-20 Panthera Training Admin Fee
S 20,000.00 1-Dec-19 Panthera Training Admin Fee
S 20,000.00 1-Nov-19 Panthera Training Admin Fee
S 20,000.00 1-Oct-19 Panthera Training Admin Fee
S 20,000.00 1-Sep-19 | Panthera Training Admin Fee
S 6,821.22 1-Aug-19 = Panthera Training Pers. Property Taxes - 2019
S 22,849.04 1-Aug-19 Panthera Training Real Estate Taxes - 2019
S 20,000.00 1-Aug-19 Panthera Training Admin Fee
S 20,000.00 1-Jul-19 Panthera Training Admin Fee
S 16,980.63 30-Jun-19 Panthera Training Additional Rents due under lease
S 15,000.00 1-Jun-19 = Panthera Training Admin Fee
S 104,000.00 1-Jun-19 = Panthera Training Future rents due on lease (monthly)
S 24,752.24 31-May-19 Panthera Training Additional Rents due under lease
S 18,836.62 30-Apr-19 Panthera Training Additional Rents due under lease
S 52,418.00 31-Dec-18 Panthera Training Additional Rents due under lease
S 4,155.00 30-Nov-18 Panthera Training Additional Rents due under lease
S 64,674.00 31-Oct-18 Panthera Training Additional Rents due under lease
S 174,879.04 1-Oct-18 | Panthera Training Liability Ins. due under lease
S 6,853.67 1-Sep-18 Panthera Training Pers. Property Taxes - 2018 prorated
S 14,604.57 1-Sep-18 Panthera Training Real Estate Taxes - 2018 prorated
S 58,304.57 1-Jun-18 — Panthera Training Liability Ins. due under lease
S 785,128.60 Total
SUNTRUST BANK Page 1 of 2
No. 2:19-bk-00787
PO BOX 305183
Doc 168 Filed 06/17/20 Entered 06/17/20 10:22:46 Page 11 of
66/E00/0175/0/72
NASHVILLE TN 37230-5183 15 1616
04/30/2020
Account
Statement
PANTHERA ENTERPRISES, LLC Questions? Please call
215 DEPOT CT SE 1-800-786-8787
LEESBURG VA 20175-3017
Keep your SunTrust Accounts safer.
Use unique usernames and passwords for your online bank accounts.
It's best not to recycle the same username and password on multiple websites where you
have an online profile - especially your financial accounts.
Also, try to avoid characters from your email, phone number, birthdate or other personal information.
Account Account Type Account Number Statement Period
Summary
PRIMARY BUSINESS CHECKING 1616 04/01/2020 - 04/30/2020
Description Amount Description Amount
Beginning Balance $31,741.29 Average Balance $6,227.35
Deposits/Credits $30,000.00 Average Collected Balance $6,227.35
Checks $.00 Number of Days in Statement Period 30
Withdrawals/Debits $57,258.82
Ending Balance $4,482.47
Overdraft Account Number Protected By
Protection 1616 Not enrolled
For more information about SunTrust's Overdraft Services, visit www.suntrust.com/overdraft.
Deposits/ Date Amount Serial # Description
Credits 04/16 30,000.00 CHECK CARD CREDIT TR DATE 04/13
WV TREASURY 866-2439010 WV
Deposits/Credits: 1 Total Items Deposited: 0
Withdrawals/ Date Amount Serial # Description
Debits Paid
04/01 30,000.00 CHECK CARD PURCHASE TR DATE 03/30
WV TREASURY 866-2439010 WV
04/01 675.00 CHECK CARD PURCHASE TR DATE 03/30
WV TREASURY*SERVICE FE 304-3410709 WV
04/06 206.87 RECURRING CHECK CARD PURCHASE TR DATE 04/04
VBS*VONAGE BUSINESS 866-901-0242 GA
04/20 35.00 ACCOUNT ANALYSIS FEE
04/20 219.20 CHECK CARD PURCHASE TR DATE 04/18
PALMETTO TECHNOLOGY GR 8644367189 SC
04/20 23,408.75 ELECTRONIC/ACH DEBIT
FIRST INSURANCE INSURANCE 22065635
04/20 2,699.00 ACH PREFUNDING SETTLEMENT
PANTHERA ENTERPR ACH PRFUND -SETT-A.S1PREM
04/30 15.00 MAINTENANCE FEE
Withdrawals/Debits: 8
Balance Date Balance Collected Date Balance Collected
Activity Balance Balance
History 04/01 1,066.29 1,066.29 04/16 30,859.42 30,859.42
04/06 859.42 859.42 04/20 4,497.47 4,497.47
585212 Member FDIC Continued on next page
SUNTRUST BANK Page 2 of 2
No. 2:19-bk-00787
PO BOX 305183
Doc 168 Filed 06/17/20 Entered 06/17/20 10:22:46 Page 12 of
66/E00/0175/0/72
NASHVILLE TN 37230-5183 15 1616
04/30/2020
Account
Statement
Balance Date Balance Collected
Activity Balance
History 04/30 4,482.47 4,482.47
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.
585213 Member FDIC
No. 2:19-bk-00787
Doc 168 Filed 06/17/20 Entered 06/17/20 10:22:46
15
Page 13 of
Report Date & Time : 05/19/2020 10:44:11AM Panthera Enterprises, LLC Page 1 of 1
Reconciled Report forSunTrust
For the Period From 4/1/2020 To 4/30/2020
Voucher Date Voucher ID Voucher Type Check No Paid To/Received From Deposit Withdrawal Recon. Date
04/01/2020 15 General Journal Debit Card Fee for RE Tax Redemption Payment 0.00 675.00 04/30/2020
04/01/2020 15 General Journal RE Tax Redemption Payment 0.00 30,000.00 04/30/2020
04/06/2020 APR/6/11/2020 Manual Check 0406202001 Vonage 0.00 206.87 04/30/2020
04/16/2020 16 General Journal RE Tax Redemption Reversal 30,000.00 0.00 04/30/2020
04/18/2020 APR/18/9/2020 Manual Check 0418202001 PTG, Inc. 0.00 219.20 04/30/2020
04/18/2020 APR/18/11/2020 Payment 0418202004 ARB Inv / Global Systems Technologies Inc. 0.00 900.00 04/30/2020
04/18/2020 APR/18/12/2020 Payment 0418202002 James Punelli 0.00 1,600.00 04/30/2020
04/18/2020 APR/18/13/2020 Payment 0418202003 Leesburgjunction.com 0.00 199.00 04/30/2020
04/20/2020 APR/20/10/2020 Manual Check 0420202001 NFP Insurance 0.00 23,408.75 04/30/2020
04/20/2020 APR/20/12/2020 Manual Check 0420202002 SunTrust Bank 0.00 35.00 04/30/2020
04/30/2020 APR/30/13/2020 Manual Check 0430202001 SunTrust Bank 0.00 15.00 04/30/2020
Total 30,000.00 57,258.82
Panthera Enterprises, LLC
No. 2:19-bk-00787 Doc168 _ Filed St&émhet2 incénretered 06/17/20 10:22:46 Page 14 of
For the Period Etiding 04/30/2020
04/01/2020
04/30/2020
CONTRACT REVENUES
09 Government Revenue 0.00
Total CONTRACT REVENUES 0.00
DIRECT COSTS
17 Subcontractors 0.00
Total DIRECT COSTS 0.00
COST OF OPERATIONS
16 Facilities - Indirect 405.87
52 Professional Fees 1,469.20
53 General Operating Expenses 24,133.75
Total COST OF OPERATIONS 26,008.82
UNALLOWABLE EXPENSES
19 Non- Reimbursable 0.00
Total UNALLOWABLE EXPENSES 0.00
Net Income -26,008.82
Panthera Enterprises, LLC
No. 2:19-bk-00787 Doc168_ Filed 06/Rélafte Shetered 06/17/20 10:22:46 Page 15 of
As of date 04/30/2020
ASSETS
CURRENT ASSETS
Cash 4,482.47
Accounts Receivable 588,357.11
592,839.58
FIXED ASSETS
Furniture & Fixtures 30,698.84
Software 2,185.87
Accumulated Depreciation -1,064,425.41
Buildings and Structures 9,102,140.80
Land 4,024,308.81
Equipment 9,212.53
Intangibles / Other 150,474.78
Accumulated Amortization -30,714.04
12,223,882.18
OTHER ASSETS
Investment - Subsidiary Companies 80,000.00
80,000.00
TOTAL ASSETS 12,896,721.76
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Accounts Payable 3,256,281.95
Accrued Salaries/Wages 123,304.57
Accrued Expenses 1,130.98
Other Current Liabilities 7,753,416.62
Inter-company Loan Payable 14,000.00
11,148,134.12
LONG-TERM LIABILITIES
PTC Facility 10,702,255.64
Long Term Debt 529,199.00
11,231 ,454.64
STOCKHOLDER'S EQUITY
Prior Years' Retained Earnings -9,190,580.70
Current Years Profit & Loss -292,286.30
-9,482,867.00
TOTAL LIABILITIES AND EQUITY 12,896,721.76
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