May 2020 Monthly Operating Report — MOR (Monthly Operating Report)

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?
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2.
Do you plan to continue to operate the business next month?
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3.
Have you paid all of your bills on time?
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4.
Did you pay your employees on time?
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5.
Have you deposited all the receipts for your business into debtor in possession (DIP) accounts?
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6.
Have you timely filed your tax returns and paid all of your taxes?
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7.
Have you timely filed all other required government filings?
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8.
Are you current on your quarterly fee payments to the U.S. Trustee or Bankruptcy Administrator?
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9.
Have you timely paid all of your insurance premiums?
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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?
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11. Have you sold any assets other than inventory?
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12. Have you sold or transferred any assets or provided services to anyone related to the DIP in any way?
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13. Did any insurance company cancel your policy?
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14. Did you have any unusual or significant unanticipated expenses?
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15. Have you borrowed money from anyone or has anyone made any payments on your behalf?
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16. Has anyone made an investment in your business?
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‰ Check if this is an
amended filing
Debtor Name __________________________________________________________________
United States Bankruptcy Court for the:
 of ________

Case number: _________________________
  Fill in this information to identify the case:
   Panthera Enterprises LLC
District of West Virgi
  2:19-bk-00787
May 2020
06/14/2020
Professional Training
  611430
James V. Punelli
James V. Punelli
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Northern
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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?
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18. Have you allowed any checks to clear the bank that were issued before you filed bankruptcy?
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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
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4,482.47
60,000.00
62,379.20
(2,379.20)
2,103.27
- 0 -
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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
753,128.60
  - 0 -
- 0 -
- 0 -
- 0 -
- 0 -
- 0 -
60,000.00
60.000.00
- 0 -
65,000.00
62,379.20
2,620.80
(5,000.00)
(2,379.20)
(2,679.20)
- 0 -
430.08
(430.08)
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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
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1.
2.
3.
4.
No Employees.
5.
6.
No tax filings or payments due during reporting period.
7.
8.
9.
Exhibit A: Section 1, Questions 1-9
Panthera Enterprises LLC
Case 2:19-bk-00787
Reporting Period:  May 2020
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10.
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:  May 2020
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Amount
Date Received
Source
Reason
60,000.00
$
11-May-20
James Punelli
Equity payment
60,000.00
$
Total
Exhibit C: Section 2, Cash Receipts
Panthera Enterprises LLC
Case 2:19-bk-00787
Reporting Period:  May 2020
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Amount
Date Paid
Payee
Purpose
$199.00
4-May-20
Leesburg Junction
Rent
$800.00
4-May-20
James Punelli
Misc Fees - travel and expenses
$206.87
6-May-20
Vonage
Telephones
$109.60
6-May-20
PTG
Internet/email hosting fees
$8.70
11-May-20
Vonage
Telephones
$11.04
18-May-20
Vonage
Telephones
$35.00
20-May-20
SunTrust Bank
Bank fees
$300.00
26-May-20
State of Delaware
Annual LLC Fees
$60,708.99
27-May-20
WV State Auditor
Land redemption payment for 689 acres
$62,379.20
Total
Exhibit D: Section 2, Disbursements
Panthera Enterprises LLC
Case 2:19-bk-00787
Reporting Period:  May 2020
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Amount
Date Incurred
Date Due
Debtor
Purpose
None
Exhibit E: Section 3, Payables
Panthera Enterprises LLC
Case 2:19-bk-00787
Reporting Period:  May 2020
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Pre-filing
Post-filing
Due Date
Customer
Notes
Unknown
30-Apr-20
Panthera Training
Additional Rents (PT not reported)
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)
20,000.00
$
1-May-20
Panthera Training
Admin Fee
20,000.00
$
1-Apr-20
Panthera Training
Admin Fee
20,000.00
$
1-Mar-20
Panthera Training
Admin Fee
20,000.00
$
1-Feb-20
Panthera Training
Admin Fee
20,000.00
$
1-Jan-20
Panthera Training
Admin Fee
20,000.00
$
1-Dec-19
Panthera Training
Admin Fee
20,000.00
$
1-Nov-19
Panthera Training
Admin Fee
20,000.00
$
1-Oct-19
Panthera Training
Admin Fee
20,000.00
$
1-Sep-19
Panthera Training
Admin Fee
6,821.22
$
1-Aug-19
Panthera Training
Pers. Property Taxes - 2019
22,849.04
$
1-Aug-19
Panthera Training
Real Estate Taxes - 2019
20,000.00
$
1-Aug-19
Panthera Training
Admin Fee
20,000.00
$
1-Jul-19
Panthera Training
Admin Fee
16,980.63
$
30-Jun-19
Panthera Training
Additional Rents due under lease
15,000.00
$
1-Jun-19
Panthera Training
Admin Fee
52,000.00
$
1-Jun-19
Panthera Training
Future rents due on lease (monthly)
24,752.24
$
31-May-19
Panthera Training
Additional Rents due under lease
18,836.62
$
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
753,128.60
$
Total
Exhibit F: Section 4, Receivables
Panthera Enterprises LLC
Case 2:19-bk-00787
Reporting Period:  May 2020
No. 2:19-bk-00787    Doc 169    Filed 06/17/20    Entered 06/17/20 10:23:25    Page 10 of
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SUNTRUST BANK
PO BOX 305183
NASHVILLE TN 37230-5183
Member FDIC
Continued on next page
PRIMARY BUSINESS CHECKING
1616
05/01/2020 - 05/31/2020
Beginning Balance
$4,482.47
Deposits/Credits
$60,000.00
Checks
$60,708.99
Withdrawals/Debits
$1,670.21
Ending Balance
$2,103.27
Average Balance
$34,078.94
Average Collected Balance
$34,078.94
Number of Days in Statement Period
31
1000246231616
Not enrolled
For more information about SunTrust's Overdraft Services, visit www.suntrust.com/overdraft.
05/11
60,000.00
PUNELLI PARTNERS CASH DISB PE
Deposits/Credits:
1
Total Items Deposited: 0
2001
60,708.99 05/27
Checks: 1
05/04
999.00
PANTHERA ENTERPR ACH PRFUND -SETT-A.S1PREM
05/05
206.87
RECURRING CHECK CARD PURCHASE TR DATE 05/04
VBS*VONAGE BUSINESS 866-901-0242 GA
05/06
109.60
CHECK CARD PURCHASE TR DATE 05/05
PALMETTO TECHNOLOGY GR 8644367189
SC
05/11
8.70
RECURRING CHECK CARD PURCHASE TR DATE 05/08
VBS*VONAGE BUSINESS 866-901-0242 GA
05/18
11.04
RECURRING CHECK CARD PURCHASE TR DATE 05/15
VBS*VONAGE BUSINESS 866-901-0242 GA
05/20
35.00
ACCOUNT ANALYSIS FEE
05/26
300.00
DE eCorp Tax
E-CHECK 0551139327
Withdrawals/Debits:
7
05/01
4,482.47
4,482.47
05/04
3,483.47
3,483.47
489117
36/E00/0175/0/72
1616
05/31/2020
Page 1 of 2
PANTHERA ENTERPRISES, LLC
215 DEPOT CT SE
LEESBURG VA 20175-3017
Questions? Please call
1-800-786-8787
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 Type
Account Number
Statement Period
Description
Amount
Description
Amount
Account Number
Protected By
Date
Amount
Serial #
Description
Check
Number
Amount
Date
Paid
Date
Paid
Amount
Serial #
Description
Date
Balance
Collected
Balance
Date
Balance
Collected
Balance
Account
Summary
Overdraft
Protection
Deposits/
Credits
Checks
Withdrawals/
Debits
Balance
Activity
History
Account
Statement
ELECTRONIC/ACH CREDIT
ACH PREFUNDING SETTLEMENT
ELECTRONIC/ACH DEBIT
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SUNTRUST BANK
PO BOX 305183
NASHVILLE TN 37230-5183
Member FDIC
05/05
05/06
05/11
05/18
3,276.60
3,167.00
63,158.30
63,147.26
3,276.60
3,167.00
63,158.30
63,147.26
05/20
05/26
05/27
63,112.26
62,812.26
2,103.27
63,112.26
62,812.26
2,103.27
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.
489118
36/E00/0175/0/72
1616
05/31/2020
Page 2 of 2
Date
Balance
Collected
Balance
Date
Balance
Collected
Balance
Balance
Activity
History
Account
Statement
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Report Date & Time : 06/14/2020
 1:30:13PM
Page 1 of 1
Panthera Enterprises, LLC
Reconciled Report forSunTrust
For the Period From 5/1/2020 To 5/31/2020
 Voucher Date
Voucher Type
Voucher ID
 Check No
Deposit
Withdrawal
Recon. Date
Paid To/Received From
05/04/2020
Manual Check
MAY/4/14/2020
0504202001
 0.00
 206.87
05/31/2020
Vonage
05/04/2020
Payment
MAY/4/14/2020
0504202001
 0.00
 800.00
05/31/2020
James Punelli
05/04/2020
Payment
MAY/4/15/2020
0504202002
 0.00
 199.00
05/31/2020
Leesburgjunction.com
05/05/2020
Manual Check
MAY/5/15/2020
05005202001
 0.00
 109.60
05/31/2020
PTG, Inc.
05/08/2020
Manual Check
MAY/8/18/2020
0508202001
 0.00
 8.70
05/31/2020
Vonage
05/11/2020
General Journal
17
 60,000.00
 0.00
05/31/2020
Equity - James Punelli
05/11/2020
Manual Check
MAY/11/16/2020
2001
 0.00
 60,708.99
05/31/2020
WV State Auditor
05/11/2020
Payment
MAY/11/16/2020
0511202001
 0.00
 0.00
05/31/2020
Sheriff of Hardy County
05/11/2020
Payment
MAY/11/17/2020
0511202002
 0.00
 0.00
05/31/2020
WV State Auditor
05/15/2020
Manual Check
MAY/15/19/2020
0515202001
 0.00
 11.04
05/31/2020
Vonage
05/20/2020
Manual Check
MAY/20/20/2020
00520202001
 0.00
 35.00
05/31/2020
SunTrust Bank
05/26/2020
Manual Check
MAY/26/21/2020
0526202001
 0.00
 300.00
05/31/2020
State Of Delaware
 60,000.00
 62,379.20
Total
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Panthera Enterprises, LLC
Statement of Income
For the Period Ending 05/31/2020
05/01/2020
05/31/2020
CONTRACT REVENUES
 0.00
09     Government Revenue
Total CONTRACT REVENUES
 0.00
DIRECT COSTS
 0.00
17     Subcontractors
Total DIRECT COSTS
 0.00
COST OF OPERATIONS
 425.61
16     Facilities - Indirect
 909.60
52     Professional Fees
 335.00
53     General Operating Expenses
 11,355.46
57     Taxes
Total COST OF OPERATIONS
 13,025.67
UNALLOWABLE EXPENSES
 15,390.21
19     Non- Reimbursable
Total UNALLOWABLE EXPENSES
 15,390.21
Net Income
-28,415.88
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Panthera Enterprises, LLC
Balance Sheet
As of date 05/31/2020
ASSETS
CURRENT ASSETS
Cash
 2,103.27
Accounts Receivable
 484,357.11
 486,460.38
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
 12,790,342.56
TOTAL ASSETS
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Accounts Payable
 3,206,928.42
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
 11,098,780.59
LONG-TERM  LIABILITIES
PTC Facility
 10,629,676.41
Long Term Debt
 529,199.00
 11,158,875.41
STOCKHOLDER'S EQUITY
Additional Paid-In Capital
 60,000.00
Prior Years' Retained Earnings
-9,190,580.70
Current Years Profit & Loss
-336,732.74
-9,467,313.44
 12,790,342.56
TOTAL LIABILITIES AND EQUITY
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