Reporting Period November 1 - 30, 2024
- Date
- 2024-12-23
Summary
A supplementary exhibit filed December 23, 2024 as Doc 873-1 in In re: Vyaire Medical, Inc., et al., Case No.: 24-11217 (BLS), covering the reporting period November 1 - 30, 2024. Its first page answers Part 7 questions on payments on prepetition debt, payments to or on behalf of insiders, and postpetition borrowing, citing the financing orders at Docket No. 103 and Docket No. 248. A consolidated Statement of Cash Receipts and Disbursements reports total operating receipts of $2,924,282, total operating disbursements of $8,350,952 and an ending book cash balance of $15,526,680. Balance sheet and income statement pages set out assets, liabilities, equity, revenue and net income across 28 entity columns. The exhibit runs five pages and closes with an attestation on bank account reconciliations signed by the Plan Administrator.
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Case 24-11217-BLS Doc 873-1 Filed 12/23/24 Page 1 of 5
In re: Vyaire Medical, Inc., et al. Case No.: 24-11217 (BLS)
Reporting Period November 1 - 30, 2024
Supplementary Exhibit & Answers
Part 7, Question a. (Were any payments made on prepetition debt?):
The Debtors obtained post-petition financing consistent with the Interim Order Approving Motion to Approve Debtor In
Possession Financing [Docket No. 103] and the Final Order (I) Authorizing the Debtors to Obtain Postpetition Financing, (II)
Authorizing the Debtors to Use Cash Collateral, (III) Granting Liens and Providing Superpriority Administrative Expense
Claims, (IV) Granting Adequate Protection, (V) Modifying Automatic Stay, and (VI) Granting Related Relief [Docket No.
248].
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 873-1 Filed 12/23/24 Page 2 of 5
In re: Vyaire Medical, Inc., et al.
24-11217 (BLS)
Statement of Cash Receipts and Disbursements
November 1 - 30, 2024 Vyaire
Medical, Inc.
Operating Receipts (Consolidated)
Collections $ 2,924,282
Total Operating Receipts 2,924,282
Operating Disbursements
Trade Vendors (5,081,179)
Payroll & Comissions (2,609,643)
T&E Credit card (124,154)
State and other taxes (53,489)
Insurance (335,019)
Customs Duty (4,834)
Inter-company transfers (142,635)
Total Operating Disbursements (8,350,952)
Net Cash Flow from Operations (5,426,670)
Non- Operating Receipts / (Disbursements)
Other Non-Estate Receipts 300,000
Other Non-Estate Disbursements (669,000)
Other Non-Operational 53,242,194
Total Non- Operating Receipts / (Disbursements) 53,542,194
Total Net Cash Flow 48,115,524
Restructuring Receipts/(Disbursements)
DIP Draw (26,250,000)
DIP Interest & Fees (2,565,000)
Professional Fees (2,764,413)
Sale Proceeds to Lenders Roll Up Loans (13,435,000)
Sale Proceeds to First Lien Agent Fees (1,463,162)
D&O, Critical Vendor, and Other Contingency (133,750)
Total Restructuring Receipts/(Disbursements) (46,611,325)
Liquidity
Book Cash Balance - Start 14,614,023
Net Cash Flow (+/-) 835,199
Change in Outstanding ACH/Wire/Check Balance 77,457
Book Cash Balance - End 15,526,680
Case 24-11217-BLS Doc 873-1 Filed 12/23/24 Page 3 of 5
In re: Vyaire Medical, Inc., et al.
24-11217 (BLS)
Balance Sheet
November 1 - 30, 2024
1 2 3 4 5 6 7 8 9 10 11 12 13 14 18 16 17 15 19 20 21 22 23 24 25 26 27 28
Vyaire Medical, Inc. Bird Products Breathe US Breathe US EME Medical, Inc. Revolutionary SensorMedics VIASYS Holdings VM Finance Sub, Vyaire Company Vyaire Finance Vyaire Financial Vyaire Holding Vyaire Medical Vyaire Medical Vyaire Medical Vyaire Medical Vyaire Medical Vyaire Medical Vyaire Medical Vyaire Medical Vyaire Medical Vyaire Medical Vyaire Medical Vyaire Vyaire Vyaire TSR Vyaire TSR Sub,
Corporation HoldCo, Inc. Holdings LP Medical Devices, Corporation Inc. LLC B.V. Holdings LLC Company 202, Inc. 203, Inc. 205, Inc. 206, Inc. 211, Inc. BR LLC Capital LLC Consumables LLC International LLC LLC Payroll LLC Receivables LLC Respiratory MidCo, LLC LLC
Inc. Diagnostics LLC
Current Assets
Assets Held for Sale $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Cash & Cash Equivalents 9,050,178 - 3,356,292 - - - - - - - (23,400) - - - 2,578,223 (10,634) - 9,112,423 - - - - - - - - - -
Income Taxes - Current - - - - - - - - - - - - - - - 0 - - - - - - - - - - - -
Intercompany AR 2,989,777,200 - 121,048,051 - - - - - - - 113,423,881 1,422,704,346 107,751 342,691,128 185,286,995 2,372,427 - 11,742,939 - - - 259 - 1,103,195,604 2,409,122,714 - - -
Inventories, Net (1,055) - - - - - - - - - - - - - (8) - - (2,116,470) - - - - - - - - - -
Other 80,029,038 - - - - - - - - - - - - - - - - (34,434) - - - - - 0 5,203,556 - - -
Prepaid Expense - Net 2,211,648 - - - - - - - - - - - - - 1,040,432 - - (2,170,310) - - - - - - - - - -
Related Party Receivables 60,507 - - - - - - - - - - - - - - - - - - - - - - - - - - -
Restricted Cash 964,000 - - - - - - - - - - - - - - - - - - - - - - - - - - -
Trade Receivables - Net 6,766,446 - - - - - - - - - - - - - (3,969,773) 0 - (502,543) - - - - - (245) (0) - - -
Total Current Assets 3,088,857,961 - 124,404,343 - - - - - - - 113,400,481 1,422,704,346 107,751 342,691,128 184,935,869 2,361,794 - 16,031,605 - - - 259 - 1,103,195,359 2,414,326,270 - - -
Long Term Assets
Intercompany Assets - LT 1,015,539,109 (47,150,760) 160,000 - - - 173,847,784 18,621,997 - - 4,753,683 - 1,204,029,413 40,957,152 56,523,340 - - 191,749,446 80,066,929 - - 125,982,033 - - - - - -
Investments in Leases LT - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Fixed Assets, Net 15,605,472 - - - - - - - - - - - - - 24,390 - - 30,588 - - - - - - - - - -
Goodwill - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Intangible Assets - Net - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Right of Use Asset - - - - - - - - - - - - - - - - - 500,058 - - - - - - - - - -
Other LT Assets 120,704 - - - - - - - 5,000,000 - - - - - - - - 3,986,386 - - - - - - - - - -
LT Deferred Taxes (0) - - - - - - - - - - - 0 - - - - - - - - - - - - - - -
Total Long Term Assets 1,031,265,285 (47,150,760) 160,000 - - - 173,847,784 18,621,997 5,000,000 - 4,753,683 - 1,204,029,413 40,957,152 56,547,730 - - 196,266,478 80,066,929 - - 125,982,033 - - - - - -
Total Assets 4,120,123,247 (47,150,760) 124,564,343 - - - 173,847,784 18,621,997 5,000,000 - 118,154,164 1,422,704,346 1,204,137,164 383,648,279 241,483,599 2,361,794 - 212,298,083 80,066,929 - - 125,982,292 - 1,103,195,359 2,414,326,270 - - -
Current Liabilities
Warranty and Product Recall Reserves (2,119) - - - - - - - - - - - - - - - - - - - - - - - - - - -
Accrued Expenses 4,150,189,296 - 124,404,343 - - - 481,096 - 5,000,000 - 2,996,969 1,422,704,346 10,045,929 341,585,808 8,321,857 - - 24,423,872 - - - 259 - 1,098,863,713 1,570,683,124 - - -
Accounts Payable 24,788,578 - - - - - - - - - - - - - 12,593,307 206,731 - 7,387,891 - - - - - - - - - -
Related Party AP - - - - - - - - - - - - - - - - - (0) - - - - - - - - - -
Current Portion of LT Debt 1,371,388 - - - - - - - - - - - - - - - - - - - - - - 1 - - - -
Accrued Compensation & Benefits 3,011,726 - - - - - - - - - - - - - (0) - - 159,328 - - - - - 2,829,472 - - - -
Short-term lease liabilities - - - - - - - - - - - - - - - - - 230,740 - - - - - - - - - -
Deferred Revenue - ST 867,812 - - - - - - - - - - - - - - - - 3,181,962 - - - - - - - - - -
Other Current Liabilities 84,094,944 - - - - - - - - - (14,419) - 414,775 - (654,070) - - 2,589,920 - - - - - 126 - - - -
Total Current Liabilities 4,264,321,625 - 124,404,343 - - - 481,096 - 5,000,000 - 2,982,550 1,422,704,346 10,460,704 341,585,808 20,261,094 206,731 - 37,973,713 - - - 259 - 1,101,693,311 1,570,683,124 - - -
Long Term Liabilities
Long Term Debt - - - - - - - - - - (0) - - - - - - - - - - - - - - - - -
Accrued pension and postretirement benefits - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Deferred Revenue, less current portion - - - - - - - - - - - - - - - - - 4,235,741 - - - - - - - - - -
Deferred Tax Liabilities - LT - - - - - - - - - - - - - - - - - (0) - - - - - - - - - -
lntercompany Liab - LT - - - - - - - - - - - 850,812,832 - - - - - - - - - - - - - - - -
Long-term lease liabilities - - - - - - - - - - - - - - - - - 255,031 - - - - - - - - - -
Other Long Term Liabilities 50,499,927 0 - - - - 0 (0) - - 2 - (16) (1) 13,813 (0) (0) (144,547) - - - - (0) (0) - - - -
Total Long-Term Liabilities 50,499,927 0 - - - - 0 (0) - - 2 850,812,832 (16) (1) 13,813 (0) (0) 4,346,225 - - - - (0) (0) - - - -
Total Liabilities 4,314,821,552 0 124,404,343 - - - 481,096 (0) 5,000,000 - 2,982,552 2,273,517,178 10,460,688 341,585,807 20,274,907 206,731 (0) 42,319,938 - - - 259 (0) 1,101,693,311 1,570,683,124 - - -
Equity
Treasury Stock (253,150,493) - - - - - - - - - - - - - - - - - - - - - - - - - - -
AOCI - - - - - - (241,559) - - - 24,240 - - (26,830,436) - - - - - - - - - - - - - -
Common Stock 298 - - - - - - - - - - - 33,873 672,366,304 0 - - 66,946,908 - - - - - - - - - -
Preferred Stock - - - - - - - - - - - - - - - - - - - - - - - - - - - -
APIC 747,174,642 (48,618,194) 160,000 - - - 175,729,134 18,461,833 - - 4,753,683 (850,812,832) 1,218,239,258 (530,769,008) 11,569,341 (57,102) - (29,401,616) 73,858,936 13,588 - 125,982,033 - - 850,812,802 - - -
Retained Earnings (688,722,751) 1,467,433 - - - - (2,120,887) 160,164 - - 110,393,689 - (24,596,654) (72,704,388) 209,639,350 2,212,165 0 132,432,853 6,207,993 (13,588) - - 0 1,502,048 (7,169,656) - - -
Total Equity (194,698,305) (47,150,760) 160,000 - - - 173,366,688 18,621,998 - - 115,171,612 (850,812,832) 1,193,676,476 42,062,472 221,208,692 2,155,063 0 169,978,145 80,066,929 - - 125,982,033 0 1,502,048 843,643,146 - - -
Total Liabilities and Equity $4,120,123,247 $(47,150,760) $124,564,343 $– $– $– $173,847,784 $18,621,997 $5,000,000 $– $118,154,164 $1,422,704,346 $1,204,137,164 $383,648,279 $241,483,599 $2,361,794 $– $212,298,083 $80,066,929 $– $– $125,982,292 $– $1,103,195,359 $2,414,326,270 $– $– $–
Case 24-11217-BLS Doc 873-1 Filed 12/23/24 Page 4 of 5
In re: Vyaire Medical, Inc., et al.
24-11217 (BLS)
Income Statement
November 1 - 30, 2024
1 2 3 4 5 6 7 8 9 10 11 12 13 14 18 16 17 15 19 20 21 22 23 24 25 26 27 28
Vyaire Medical, Bird Products Breathe US Breathe US EME Medical, Revolutionary SensorMedics VIASYS VM Finance Vyaire Vyaire Finance B.V. Vyaire Vyaire Holding Vyaire Medical Vyaire Medical Vyaire Medical Vyaire Medical Vyaire Medical Vyaire Medical Vyaire Medical Vyaire Medical Vyaire Medical Vyaire Medical Vyaire Medical Vyaire Vyaire Vyaire TSR Vyaire TSR
Inc. Corporation HoldCo, Inc. Holdings LP Inc. Medical Corporation Holdings Inc. Sub, LLC Company Financial Company 202, Inc. 203, Inc. 205, Inc. 206, Inc. 211, Inc. BR LLC Capital LLC Consumables International LLC Payroll LLC Receivables LLC Respiratory MidCo, LLC Sub, LLC
Devices, Inc. Holdings LLC LLC LLC Diagnostics LLC
Revenue
Third Party Revenue $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ (2,595) $ - $ - $ 660,289 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Intercompany Revenue - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Total Revenue - - - - - - - - - - - - - - (2,595) - - 660,289 - - - - - - - - - -
COGS
Standard COGS - - - - - - - - - - - - - - - - - 41,181 - - - - - - - - - -
IC COGS - - - - - - - - - - - - - - - - - - - - - - - - - - - -
OCOS - - - - - - - - - - - - - - - - - 7,209 - - - - - - - - - -
Total COGS - - - - - - - - - - - - - - - - - 48,390 - - - - - - - - - -
Operating Expenses
Salaries & Benefits 438,345 - - - - - - - - - - - - - - - - 123,393 - - - - - - - - - -
Other Operating Expenses 26,992,474 - - - - - - - - - - - - - 9,429 - - 1,230,607 - - - - - - - - - -
Total Operating Expenses 27,430,818 - - - - - - - - - - - - - 9,429 - - 1,354,000 - - - - - - - - - -
Non-Operating Expenses
Amortizations - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Currency (963,710) - - - - - - - - - (0) - - - - - - - - - - - - - - - - -
Income Tax Expense - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Net Interest 2,621 - - - - - - - - - - - - - - - - - - - - - - - - - - -
Non-recurring charges 157,759 - - - - - - - - - - - - - - - - - - - - - - - - - - -
Other Income Expense (423,027,283) - - - - - - - - - (111,905,675) - - - (2) - - - - - - - - - - - - -
Disposal of Business (52,247,564) - - - - - - - - - - - - - - - - - - - - - - - - - - -
Restructuring - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Total Non-Operating Expenses (476,078,177) - - - - - - - - - (111,905,675) - - - (2) - - - - - - - - - - - - -
Net Income $ 448,647,358 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 111,905,675 $ - $ - $ - $ (12,022) $ - $ - $ (742,101) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Case 24-11217-BLS Doc 873-1 Filed 12/23/24 Page 5 of 5
In re: Vyaire Medical, Inc., et al. Case No.: 24-11217 (BLS)
Reporting Period 11/1/2024 - 11/30/2024
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/ David Barse 12/23/2024
Signature of Authorized Individual Date
David Barse Plan Administrator
Printed Name of Authorized Individual Title of Authorized Individual
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