Reporting Period June 10 ‐ 30, 2024
- Date
- 2024-06-01
Summary
Supplementary exhibit and answers for the reporting period June 10 - 30, 2024 in In re: Vyaire Medical, Inc., et al., No. 24-11217 (BLS), Doc 282-1, filed July 22, 2024. General notes state that figures cover activity from 6/1/2024 to 6/30/2024 and receipts and disbursements from 6/10/2024 to 6/30/2024. The Part 7 answers state that prepetition obligations were paid under "first day" orders, that insider payments cover only salary and compensation to the CEO, CFO, General Counsel and independent directors, and that financing came under an interim order [Docket No. 103]. The cash statement reports collections of $8,034,574, a DIP draw of $25,000,000 and an ending book cash balance of $60,399,897. The five-page exhibit also carries a balance sheet as of June 30, 2024, an income statement by debtor entity, and a bank reconciliation attestation signed by the Chief Restructuring Officer.
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Case 24-11217-BLS Doc 282-1 Filed 07/22/24 Page 1 of 5
In re: Vyaire Medical, Inc., et al. Case No.: 24‐11217 (BLS)
Reporting Period June 10 ‐ 30, 2024
Supplementary Exhibit & Answers
General Notes:
Except for receipts and disbursements, the figures reported herein are for monthly post‐petition activity from 6/1/2024 to
6/30/2024. Receipt and disbursement figures are for activity from 6/10/2024 to 6/30/2024. All balances from month end
are reported as of 6/30/2024.
Part 7, Question a. (Were any payments made on prepetition debt?):
The Debtors have received authority to pay certain prepetition obligations under various “first day” orders entered by the
Bankruptcy Court. Amounts paid are monitored and made in accordance with the applicable “first day” orders governing
payment of such prepetition obligations.
Part 7, Question c. (Were any payments made to or on behalf of insiders?):
Payments made on behalf of insiders include only regular salary and compensation to the Debtors’ CEO, CFO, General
Counsel, and/or independent directors.
Part 7, Question g. (Was there any postpetition borrowing, other than trade credit?):
The Debtors obtained post‐petition financing consistent with the Interim Order Approving Motion to Approve Debtor In
Possession Financing [Docket No. 103].
Case 24-11217-BLS Doc 282-1 Filed 07/22/24 Page 2 of 5
In re: Vyaire Medical, Inc., et al.
24‐11217 (BLS)
Statement of Cash Receipts and Disbursements
June 10 ‐ 30, 2024 Vyaire Medical,
Inc.
Operating Receipts (Consolidated)
Collections $ 8,034,574
Total Operating Receipts 8,034,574
Operating Disbursements
Trade Vendors (2,428,723)
Payroll & Comissions (3,307,657)
T&E Credit card (118,873)
State and other taxes (73,017)
Insurance (155,956)
Inter‐company transfers (424,042)
Total Operating Disbursements (6,508,269)
Net Cash Flow from Operations 1,526,306
Non‐ Operating Receipts / (Disbursements)
Other Non‐Operational 15,921
Total Non‐ Operating Receipts / (Disbursements) 15,921
Total Net Cash Flow 1,542,227
Restructuring Receipts/(Disbursements)
DIP Draw 25,000,000
DIP Interest & Fees (3,752,409)
Professional Fees (6,411,950)
Total Restructuring Receipts/(Disbursements) 14,835,641
Liquidity
Book Cash Balance ‐ Start 44,313,435
Net Cash Flow (+/‐) 16,377,868
Change in Outstanding ACH/Wire/Check Balance (291,406)
Book Cash Balance ‐ End 60,399,897
Case 24-11217-BLS Doc 282-1 Filed 07/22/24 Page 3 of 5
In re: Vyaire Medical, Inc., et al.
24‐11217 (BLS)
Balance Sheet
June 30, 2024
Revolutionary Vyaire
Vyaire Medical, Bird Products Breathe US Breathe US Medical Devices, SensorMedics VIASYS Holdings VM Finance Sub, Vyaire Finance Vyaire Financial Vyaire Holding Vyaire Medical Vyaire Medical Vyaire Medical Vyaire Medical Vyaire Medical Vyaire Medical BR Vyaire Medical Vyaire Medical Vyaire Medical Vyaire Medical Vyaire Medical Vyaire Respiratory Vyaire TSR MidCo, Vyaire TSR Sub,
Inc. Corporation HoldCo, Inc. Holdings LP EME Medical, Inc. Inc. Corporation Inc. LLC Vyaire Company B.V. Holdings LLC Company 202, Inc. 203, Inc. 205, Inc. 206, Inc. 211, Inc. LLC Capital LLC Consumables LLC International LLC LLC Payroll LLC Receivables LLC Diagnostics LLC LLC LLC
Current Assets
Assets Held for Sale – – – – – – – – – – – – – – – – – – – – – – – – – – – –
Cash & Cash Equivalents 17,575,534 – 6,411,950 – – – – – – – (23,750) – – – 257,069 (10,634) – (169,012) – – – – – – – – – –
Income Taxes - Current – – – – – – – – – – – – – – – 0 – – – – – – – – – – – –
Intercompany AR 2,882,092,470 – 80,000,000 – – – – – – – 53,516,097 1,422,704,346 (49,191) 342,691,128 (41,131,735) 2,372,427 – 163,365,359 281 – – 259 – 1,076,377,079 2,409,122,714 – – –
Inventories, Net (1,055) – – – – – – – – – – – – – 47,717,553 – – 12,364,215 – – – – – – – – – –
Other 80,908,274 – – – – – – – – – – – – – – – – 24,318 – – – – – 0 5,203,556 – – –
Prepaid Expense - Net 9,354,624 – – – – – – – – – – – – – 2,408,767 – – 677,899 – – – – – – – – – –
Related Party Receivables 49,680 – – – – – – – – – – – – – – – – – – – – – – – – – – –
Restricted Cash 964,000 – – – – – – – – – – – – – – – – – – – – – – – – – – –
Trade Receivables - Net 681,075 – – – – – – – – – – – – – 22,610,394 0 – 2,602,042 – – – – – 3 (0) – – –
Total Current Assets 2,991,624,603 – 86,411,950 – – – – – – – 53,492,347 1,422,704,346 (49,191) 342,691,128 31,862,047 2,361,794 – 178,864,820 281 – – 259 – 1,076,377,083 2,414,326,270 – – –
Long Term Assets
Intercompany Assets - LT 841,266,912 (47,150,760) – – – – 96,448,502 (61,378,003) – – 81,713,222 – 1,124,029,413 (39,042,848) 191,749,446 – – 56,523,340 80,066,929 – – 125,982,033 – – – – – –
Investments in Leases LT – – – – – – – – – – – – – – 46,500 – – – – – – – – – – – – –
Fixed Assets, Net 20,009,770 – – – – – – – – – – – – – 1,412,640 – – 573,189 – – – – – – – – – –
Goodwill 694,142 – – – – – – – – – – – – – (119,259) – – 0 – – – – – – – – – –
Intangible Assets - Net – – – – – – – – – – – – – – – – – 1,000,000 – – – – – – – – – –
Right of Use Asset 35,202,545 – – – – – – – – – – – – – 22,871,577 – – – – – – – – – – – – –
Other LT Assets 120,704 – – – – – – – 5,000,000 – – – – – 3,986,386 – – – – – – – – – – – – –
LT Deferred Taxes (0) – – – – – – – – – – – 0 – – – – – – – – – – – – – – –
Total Long Term Assets 897,294,072 (47,150,760) – – – – 96,448,502 (61,378,003) 5,000,000 – 81,713,222 – 1,124,029,413 (39,042,848) 219,947,290 – – 58,096,529 80,066,929 – – 125,982,033 – – – – – –
Total Assets 3,888,918,676 (47,150,760) 86,411,950 – – – 96,448,502 (61,378,003) 5,000,000 – 135,205,569 1,422,704,346 1,123,980,222 303,648,279 251,809,337 2,361,794 – 236,961,348 80,067,210 – – 125,982,292 – 1,076,377,083 2,414,326,270 – – –
Current Liabilities
Warranty and Product Recall Reserves (2,119) – – – – – – – – – – – – – – – – 687,085 – – – – – – – – – –
Accrued Expenses 3,878,137,450 – 6,411,950 – – – 481,096 – 5,000,000 – 18,427,890 1,422,704,346 11,193,338 341,585,808 24,925,647 – – 8,321,857 281 – – 259 – 1,070,958,022 1,570,683,124 – – –
Accounts Payable 21,791,000 – – – – – – – – – – – – – 11,677,580 206,731 – 9,485,461 – – – – – 20,546 – – – –
Related Party AP – – – – – – – – – – – – – – (0) – – – – – – – – – – – – –
Current Portion of LT Debt 435,152,546 – – – – – – – – – – – – – – – – – – – – – – 1 – – – –
Accrued Compensation & Benefits 6,033,519 – – – – – – – – – – – – – 4,318,124 – – (0) – – – – – 3,896,466 – – – –
Short-term lease liabilities 9,161,374 – – – – – – – – – – – – – 1,367,603 – – – – – – – – – – – – –
Other Current Liabilities 83,027,959 – – – – – – – – – (14,635) – 414,775 – 1,410,445 – – (16,297) – – – – – – – – – –
Total Current Liabilities 4,434,169,541 – 6,411,950 – – – 481,096 – 5,000,000 – 18,413,256 1,422,704,346 11,608,113 341,585,808 52,412,528 206,731 – 20,223,657 281 – – 259 – 1,074,875,035 1,570,683,124 – – –
Long Term Liabilities
Long Term Debt – – – – – – – – – – 113,215,133 – – – – – – – – – – – – – – – – –
Accrued pension and postretirement benefits – – – – – – – – – – – – – – – – – – – – – – – – – – – –
Deferred Revenue, less current portion – – – – – – – – – – – – – – 10,136,863 – – 371,734 – – – – – – – – – –
Deferred Tax Liabilities - LT – – – – – – – – – – – – – – (0) – – – – – – – – – – – – –
lntercompany Liab - LT 13,128,070 – – – – – – – – – – 850,812,832 – – – – – – – – – – – – – – – –
Long-term lease liabilities 34,099,586 – – – – – – – – – – – – – 22,083,909 – – – – – – – – – – – – –
Other Long Term Liabilities 50,499,926 0 – – – – 0 (0) – – 2 – (16) (1) 126,999 (0) (0) 3 – – – – (0) (0) – – – –
Total Long-Term Liabilities 97,727,583 0 – – – – 0 (0) – – 113,215,135 850,812,832 (16) (1) 32,347,772 (0) (0) 371,737 – – – – (0) (0) – – – –
Total Liabilities 4,531,897,124 0 6,411,950 – – – 481,096 (0) 5,000,000 – 131,628,390 2,273,517,178 11,608,097 341,585,807 84,760,300 206,731 (0) 20,595,394 281 – – 259 (0) 1,074,875,035 1,570,683,124 – – –
Equity
Treasury Stock (253,150,493) – – – – – – – – – – – – – – – – – – – – – – – – – – –
AOCI – – – – – – (241,559) – – – 267,638 – – (26,830,436) – – – – – – – – – – – – – –
Common Stock 298 – – – – – – – – – – – 33,873 672,366,304 66,946,908 – – 0 – – – – – – – – – –
Preferred Stock – – – – – – – – – – – – – – – – – – – – – – – – – – – –
APIC 667,174,641 (48,618,194) 80,000,000 – – – 98,329,852 (61,538,167) – – 4,753,683 (850,812,832) 1,138,239,258 (610,769,008) (29,401,617) (57,102) – 11,569,341 73,858,936 13,588 – 125,982,033 – – 850,812,802 – – –
Retained Earnings (1,057,002,894) 1,467,433 – – – – (2,120,887) 160,164 – – (1,444,142) – (25,901,005) (72,704,388) 129,503,747 2,212,165 0 204,796,613 6,207,993 (13,588) – – 0 1,502,048 (7,169,656) – – –
Total Equity (642,978,448) (47,150,760) 80,000,000 – – – 95,967,406 (61,378,003) – – 3,577,179 (850,812,832) 1,112,372,125 (37,937,528) 167,049,038 2,155,063 0 216,365,954 80,066,929 – – 125,982,033 0 1,502,048 843,643,146 – – –
Total Liabilities and Equity 3,888,918,676 (47,150,760) 86,411,950 – – – 96,448,502 (61,378,003) 5,000,000 – 135,205,569 1,422,704,346 1,123,980,222 303,648,279 251,809,337 2,361,794 – 236,961,348 80,067,210 – – 125,982,292 – 1,076,377,083 2,414,326,270 – – –
Case 24-11217-BLS Doc 282-1 Filed 07/22/24 Page 4 of 5
In re: Vyaire Medical, Inc., et al.
24‐11217 (BLS)
Income Statement
June 1 ‐30, 2024
Revolutionar SensorMedic Vyaire Vyaire Vyaire Vyaire Vyaire Vyaire Vyaire Vyaire Vyaire Vyaire Vyaire Vyaire Vyaire Vyaire
Vyaire Bird Products Breathe US Breathe US EME y Medical s VIASYS VM Finance Vyaire Vyaire Financial Holding Medical 202, Medical 203, Medical 205, Medical 206, Medical 211, Medical BR Medical Medical Medical Vyaire Medical Receivables Respiratory Vyaire TSR Vyaire TSR
Medical, Inc. Corporation HoldCo, Inc. Holdings LP Medical, Inc. Devices, Inc. Corporation Holdings Inc. Sub, LLC Company Finance B.V. Holdings LLC Company Inc. Inc. Inc. Inc. Inc. LLC Capital LLC Consumables International Medical LLC Payroll LLC LLC Diagnostics MidCo, LLC Sub, LLC
Revenue
Third Party Revenue – – – – – – – – – – – – – – 91,387,448 – – 20,825,962 – – – – – – – – – –
Intercompany Revenue – – – – – – – – – – – – – – 6,098,358 – – 63,788 – – – – – – – – – –
Total Revenue – – – – – – – – – – – – – – 97,485,807 – – 20,889,750 – – – – – – – – – –
COGS – – – – – – – – – – – – – – – 0 – – – – – – – – – – – –
Standard COGS – – – – – – – – – – – – – – 34,638,229 – – 9,172,541 – – – – – – – – – –
IC COGS – – – – – – – – – – – – – – 6,269,295 – – 128,544 – – – – – – – – – –
OCOS (3,939) – – – – – – – – – – – – – (13,800,692) – – 314,155 – – – – – – – – – –
Total COGS (3,939) – – – – – – – – – – – – – 27,106,833 – – 9,615,240 – – – – – – – – – –
Operating Expenses
Salaries & Benefits 30,440,276 – – – – – – – – – – – – – 29,576,748 – – – – – – – – – – – – –
Other Operating Expenses 69,093,322 – – – – – – – – – – – – – 16,261,597 – – 344,909 – – – – – – – – – –
Total Operating Expenses 99,533,598 – – – – – – – – – – – – – 45,838,344 – – 344,909 – – – – – – – – – –
Non-Operating Expenses
Amortizations – – – – – – – – – – – – – – (21,046) – – – – – – – – – – – – –
Currency 1,566,929 – – – – – – – – – (31,434) – – – 1,967 – – – – – – – – – – – – –
Income Tax Expense – – – – – – – – – – – – – – – – – – – – – – – – – – – –
Net Interest 36,175,178 – – – – – – – – – 37,114 – – – – – – – – – – – – – – – – –
Non-recurring charges 1,867,944 – – – – – – – – – – – – – 3,767,549 – – – – – – – – – – – – –
Other Income Expense (903,628) – – – – – – – – – – – – – – – – 155,791 – – – – – – (6,320) – – –
Disposal of Business 1,702,754 – – – – – – – – – – – – – – – – – – – – – – – – – – –
Restructuring 3,563,139 – – – – – – – – – – – – – 220,377 – – – – – – – – – – – – –
Total Non-Operating Expenses 43,972,316 – – – – – – – – – 5,680 – – – 3,968,847 – – 155,791 – – – – – – (6,320) – – –
Net Income (143,501,975) – – – – – – – – – (5,680) – – – 20,571,783 – – 10,773,811 – – – – – – 6,320 – – –
Case 24-11217-BLS Doc 282-1 Filed 07/22/24 Page 5 of 5
In re: Vyaire Medical, Inc., et al. Case No.: 24‐11217 (BLS)
Reporting Period 6/10/2024 ‐ 6/30/2024
Bank Reconciliations
The Debtors hereby submit this attestation regarding bank account reconciliations in lieu of providing copies of bank
statements, bank reconciliations and journal entries.
The Debtors’ standard practice is to ensure that bank reconciliations are completed before closing the books each reporting
period. I attest that each of the Debtors’ bank accounts has been reconciled in accordance with their standard practices.
/s/ Charles N. Braley 7/22/2024
Signature of Authorized Individual Date
Charles N. Braley Chief Restructuring Officer
Printed Name of Authorized Individual Title of Authorized Individual
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