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Full title: Debtor-In-Possession Monthly Operating Report for Filing Period April 22, 2021 through April 30, 2021 Filed by Adara Enterprises Corp.. (Gellert, Ronald) (Entered: 05/21/2021)

Document posted on May 20, 2021 in the bankruptcy, 15 pages and 0 tables.

Bankrupt11 Summary (Automatically Generated)

Date _______________________________________ ______________________________Signature of Joint Debtor Date _______________________________________ ______________________________Signature of Authorized Individual*Date _______________________________________ ______________________________Printed Name of Authorized Individual Title of Authorized Individual*Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtoris a partnership; a manager or member if debtor is a limited liability company No. _________________________________________ Debtor Reporting Period: _4_/_2_2_/_2_0__2_1_ _- _4_/_3_0_/_2_0__2_1____________SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS No.__________________________________ Debtor Reporting Period:_4_/_2_2_/2__0_2_1_ -_ _4_/3__0_/2_0_2__1_______STATEMENT OF OPERATIONS - continuation sheet Cumulative BREAKDOWN OF "OTHER" CATEGORY Month Filing to Date In re ______________________________________________________________ Case No _______________________________Debtor Reporting Period:_4_/_2_2_/2__0_2_1_ -_ _4_/3_0_/_2_0_2_1_______BALANCE SHEET

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UNITED STATES BANKRUPTCY COURT __________ DISTRICT OF ___________ Adara Enterprises Corp 21-10736 (JKS) In re ______________________ Case No. ___________________________Reporting Period:_4_/_2_2_/_2_0_2_1_-_ _4_/3__0_/2_0__2_1__ MONTHLY OPERATING REPORT File with Court and submit copy to United States Trustee within 20 days after end of month. Submit copy of report to any official committee appointed in the caseDocument Explanation Affidavit/Supplement REQUIRED DOCUMENTS Form No. Attached Attached Attached Schedule of Cash Receipts and Disbursements MOR-1 YES Bank Reconciliation (or copies of debtor's bank reconciliations) MOR-1a YES Schedule of Professional Fees Paid MOR-1b YES Copies of bank statements YES Cash disbursements journals YES Statement of Operations MOR-2 YES Balance Sheet MOR-3 YES Status of Postpetition Taxes MOR-4 YES Copies of IRS Form 6123 or payment receipt N/A Copies of tax returns filed during reporting period N/A Summary of Unpaid Postpetition Debts MOR-4 YES Listing of aged accounts payable MOR-4 YES Accounts Receivable Reconciliation and Aging MOR-5 YES Debtor Questionnaire MOR-5 YES I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documentsare true and correct to the best of my knowledge and belief. 5-20-2021 _______________________________________ ______________________________Signature of Debtor Date _______________________________________ ______________________________Signature of Joint Debtor Date _______________________________________ ______________________________Signature of Authorized Individual* Date _______________________________________ ______________________________Printed Name of Authorized Individual Title of Authorized Individual*Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtoris a partnership; a manager or member if debtor is a limited liability company

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Adara Enterprises Corp. 21-10736 (JKS) In re______________________________________________ Case No. _________________________________________ Debtor Reporting Period: _4_/_2_2_/_2_0__2_1_ _- _4_/_3_0_/_2_0__2_1____________SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS Amounts reported should be per the debtor's books, not the bank statement The beginning cash should be the ending cash from the prior month or, if this is thefirst report, the amount should be the balance on the date the petition was filed The amounts reported in the "CURRENT MONTH - ACTUAL" column mustequal the sum of the four bank account columns The amounts reported in the "PROJECTED" columns should be taken from the SMALL BUSINESS INITIALREPORT (FORM IR-1) Attach copies of the bank statements and the cash disbursements journal The total disbursements listed in the disbursements journalmust equal the total disbursements reported on this page A bank reconciliation must be attached for each account [See MOR-1 (CON'T)]BANK ACCOUNTS CURRENT MONTH CUMULATIVE FILING TO DATE OPER PAYROLL TAX OTHER ACTUAL PROJECTED ACTUAL PROJECTED CASH BEGINNING OF MONTH 67,738 67,738 67,738 67,738 67,738 RECEIPTS CASH SALES ACCOUNTS RECEIVABLE LOANS AND ADVANCES SALE OF ASSETS OTHER (ATTACH LIST) TRANSFERS (FROM DIP ACCTS) 0.00 0.00 0.00 0.00 0.00 TOTAL RECEIPTS DISBURSEMENTS 2,292 2,292 NET PAYROLL 833 833 PAYROLL TAXES SALES, USE, & OTHER TAXES INVENTORY PURCHASES 2,700 2,700 SECURED/ RENTAL/ LEASES INSURANCE 5,000 5,000 ADMINISTRATIVE SELLING BENEFITS 4,165 4,165 OTHER (ATTACH LIST) CONSULTING 7,000 7,000 OWNER DRAW * TRANSFERS (TO DIP ACCTS) PROFESSIONAL FEES US TRUSTEE QUARTERLY FEES COURT COSTS 0.00 0.00 21,990 0.00 21,990 TOTAL DISBURSEMENTS 0.00 0.00 (21,990) 0.00 (21,990) NET CASH FLOW (RECEIPTS LESS DISBURSEMENTS) CASH - END OF MONTH 67,738 67,738 45,748 67,738 45,748 * COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE THE FOLLOWING SECTION MUST BE COMPLETED DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN)0.00 TOTAL DISBURSEMENTS $ 0.00 LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS $ 0.00 PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (ie from escrow accounts) $0.00 TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES $

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Adara Enterprises Corp. 21-10736 (JKS) In re_________________________________________ Case No. _________________________________ Debtor Reporting Period:_4_/_2_2_/_2_0_2_1_ _-_ 4_/_3_0_/_2_0_2_1_______BANK RECONCILIATIONS Continuation Sheet for MOR-1 A bank reconciliation must be included for each bank account The debtor's bank reconciliation may be substituted for this pageOperating Payroll Tax Other # # # # BALANCE PER BOOKS 67,738 BANK BALANCE 71,527 (+) DEPOSITS IN TRANSIT (ATTACH LIST) (-) OUTSTANDING CHECKS (ATTACH LIST) (3,789) OTHER (ATTACH EXPLANATION) ADJUSTED BANK BALANCE * 67,738 * Adjusted bank balance must equal balance per books DEPOSITS IN TRANSIT Date Amount Date Amount Date Amount Date AmountCHECKS OUTSTANDING Ck. # Amount Ch. # Amount Ck. # Amount Ck. # AmountACH4-16-213,789 OTHER

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Adara Enterprises Corp. 21-10736 (JKS) In re________________________________ Case No.____________________________________ Debtor Reporting Period.:_4_/_2_2_/2__0_2_1_ -_ _4_/3__0_/2_0_2__1_________STATEMENT OF OPERATIONS (Income Statement) The Statement of Operations is to be prepared on an accrual basis. The accrual basis of accounting recognizes revenue when it isrealized and expenses when they are incurred, regardless of when cash is actually received or paid. Cumulative REVENUES Month Filing to Date Gross Revenues $ 0.00 $ 0.00 Less: Returns and Allowances Net Revenue $ 0.00 $ 0.00 COST OF GOODS SOLD Beginning Inventory Add: Purchases Add: Cost of Labor Add: Other Costs (attach schedule) Less: Ending Inventory Cost of Goods Sold Gross Profit 0.00 0.00 OPERATING EXPENSES Advertising Auto and Truck Expense Bad Debts Contributions Employee Benefits Programs 9,467 9,467 Insider Compensation* Insurance Management Fees/Bonuses Office Expense 8,900 8,900 Pension & Profit-Sharing Plans Repairs and Maintenance Rent and Lease Expense Salaries/Commissions/Fees 14,417 14,417 Supplies Taxes - Payroll Taxes - Real Estate Taxes - Other Travel and Entertainment Utilities Other (attach schedule) Total Operating Expenses Before Depreciation Depreciation/Depletion/Amortization 14,583 14,583 Net Profit (Loss) Before Other Income & Expenses (47,367) (47,367)OTHER INCOME AND EXPENSES Other Income (attach schedule) Interest Expense 74,113 74,113 Other Expense (attach schedule) Net Profit (Loss) Before Reorganization Items (121,480) (121,480)REORGANIZATION ITEMS Professional Fees 5,386 5,386 U. S. Trustee Quarterly Fees Interest Earned on Accumulated Cash from Chapter 11 (see continuation sheet)Gain (Loss) from Sale of Equipment Other Reorganization Expenses (attach schedule) Total Reorganization Expenses 5,386 5,386 Income Taxes Net Profit (Loss) $ (126,866) $ (126,866) *"Insider" is defined in 11 U.S.C. Section 101(31). Professional fees in addition to thr amounts hereof ha(cid:89)e accrued in an amount unkno(cid:90)n as of the date of the report

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Adara Enterprises Corp. 21-10736 (JKS) In re___________________________________ Case No.__________________________________ Debtor Reporting Period:_4_/_2_2_/2__0_2_1_ -_ _4_/3__0_/2_0_2__1_______STATEMENT OF OPERATIONS - continuation sheet Cumulative BREAKDOWN OF "OTHER" CATEGORY Month Filing to Date Other Costs Other Operational Expenses Other Income Other Expenses Other Reorganization Expenses Reorganization Items - Interest Earned on Accumulated Cash from Chapter 11: Interest earned on cash accumulated during the chapter 11 case, which would not have been earned but for thebankruptcy proceeding, should be reported as a reorganization item.

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Adara Enterprises Corp. 21-10736 (JKS) In re ______________________________________________________________ Case No _______________________________Debtor Reporting Period:_4_/_2_2_/2__0_2_1_ -_ _4_/3_0_/_2_0_2_1_______BALANCE SHEET The Balance Sheet is to be completed on an accrual basis only Pre-petition liabilities must be classified separately from postpetition obligations BOOK VALUE AT END OF BOOK VALUE ON ASSETS CURRENT REPORTING MONTH PETITION DATE CURRENT ASSETS Unrestricted Cash and Equivalents 67,738 67,738 Restricted Cash and Cash Equivalents (see continuation sheet) Accounts Receivable (Net) Notes Receivable Inventories Prepaid Expenses 8,495 Professional Retainers Other Current Assets (attach schedule) TOTAL CURRENT ASSETS $ 67,738 $ 76,233 PROPERTY AND EQUIPMENT Real Property and Improvements Machinery and Equipment Furniture, Fixtures and Office Equipment 1,750,000 1,750,000Leasehold Improvements Vehicles Less Accumulated Depreciation 454,748 440,165 TOTAL PROPERTY & EQUIPMENT $ 1,295,252 $ 1,309,835 OTHER ASSETS Loans to Insiders* Other Assets (attach schedule) TOTAL OTHER ASSETS $ $ 1,362,990 1,386,068 TOTAL ASSETS $ $ BOOK VALUE AT END OF BOOK VALUE ON LIABILITIES AND OWNER EQUITY CURRENT REPORTING MONTH PETITION DATELIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition) Accounts Payable 29,675 0.00 Taxes Payable (refer to FORM MOR-4) Wages Payable Notes Payable Rent / Leases - Building/Equipment Secured Debt / Adequate Protection Payments Professional Fees Amounts Due to Insiders* Other Postpetition Liabilities (attach schedule) TOTAL POSTPETITION LIABILITIES $ 29,675 $ 0.00 LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition) Secured Debt 12,915,238 12,841,125 Priority Debt Unsecured Debt 1,241,017 1,241,017 TOTAL PRE-PETITION LIABILITIES $ 14,156,255 $ 14,082,142 TOTAL LIABILITIES $ 14,185,930 $ 14,082,142 OWNER EQUITY Capital Stock 11 11 Additional Paid-In Capital 692,152,374 692,152,374 Partners' Capital Account Owner's Equity Account Retained Earnings - Pre-Petition (704,848,459) (704,848,459)Retained Earnings - Postpetition (126,866) Adjustments to Owner Equity (attach schedule) Postpetition Contributions (Distributions) (Draws) (attach schedule)NET OWNER EQUITY $ (12,822,940) $ (12,696,074) 1,362,990 1,386,068 TOTAL LIABILITIES AND OWNERS' EQUITY $ $ *"Insider" is defined in 11 USC Section 101(31)

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21-10736 (JKS) In re A d a r a E n t e r p r i s e s C o r p . Case No _________________________ Debtor________________________________________________ Reporting Period:_4_/_2_2_/2__0_2_1_ -_ _4_/3_0_/_2_0_2_BALANCE SHEET - continuation sheet BOOK VALUE AT END OF BOOK VALUE ON ASSETS CURRENT REPORTING MONTH PETITION DATE Other Current Assets Other Assets BOOK VALUE AT END OF BOOK VALUE ON LIABILITIES AND OWNER EQUITY CURRENT REPORTING MONTH PETITION DATEOther Postpetition Liabilities Adjustments to Owner Equity Postpetition Contributions (Distributions) (Draws) Restricted Cash is cash that is restricted for a specific use and not available to fund operations Typically, restricted cash is segregatedinto a separate account, such as an escrow account

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Adara Enterprises Corp. 21-10736 (JKS) In re______________________________ Case No. ___________________________ Debtor Reporting Period:_4_/_2_2_/_2_0_2_1_ _- _4_/_3_0_/_2_0_2_1_STATUS OF POSTPETITION TAXES The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero. Attach photocopies of IRS Form 6123 or payment receipt to verify payment or deposit of federal payroll taxes. Attach photocopies of any tax returns filed during the reporting period. Beginning Amount Ending Tax Withheld or Amount Date Check No. Tax Liability Accrued Paid Paid or EFT Liability Federal Withholding NONE FICA-Employee FICA-Employer Unemployment Income Other:_________________ Total Federal Taxes State and Local Withholding NONE Sales Excise Unemployment Real Property Personal Property Other: Total State and Local Total Taxes SUMMARY OF UNPAID POSTPETITION DEBTS Attach aged listing of accounts payable. Number of Days Past Due Current 0-30 31-60 61-90 Over 90 Total Accounts Payable 29,675 29,675 Wages Payable Taxes Payable Rent/Leases-Building Rent/Leases-Equipment Secured Debt/Adequate Protection Payments Professional Fees Amounts Due to Insiders* Other:__________________________ Other:__________________________ Total Postpetition Debts 29,675 29,675 Explain how and when the Debtor intends to pay any past-due postpetition debts. All debts are current and (cid:90)ill be paid in the ordinar(cid:92) course of business from the DIP financing. *"Insider" is defined in 11 U.S.C. Section 101(31).

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Statement Period From April 01, 2021 To April 30, 2021 Page 1 of 4 PRIVATE CLIENT GROUP 265 50 WEST 57TH STREET NEW YORK, NY 10019 ADARA ENTERPRISES CORP 8-265 411 E 57TH ST, SUITE 1-A NEW YORK NY 10022 See Back for Important Information Primary Account: 8188 0 IMPORTANT MESSAGE ABOUT IDENTITY THEFT! SIGNATURE BANK WILL NEVER ASK YOU TO PROVIDE PERSONAL OR BUSINESS ACCOUNT INFORMATION THROUGH E-MAIL. IF YOU RECEIVE ANY E-MAIL OR OTHER INQUIRY THAT APPEARS TO COME FROM SIGNATURE, DO NOT RESPOND TO IT OR CLICK ON ANY LINKS INCLUDED IN THE E-MAIL. INSTEAD, CALL US TOLL-FREE AT 1-866-SIGLINE OR CONTACT YOUR ACCOUNT OFFICER. FOR MORE INFORMATION ON IDENTITY THEFT, VISIT OUR WEBSITE AT WWW.SIGNATURENY.COM. CLICK ON "ABOUT US", "PRIVACY & SECURITY", "IDENTITY THEFT" FOR MORE INFORMATION ON SAFEGUARDING YOUR IDENTITY AND PERSONAL INFORMATION. Signature Relationship Summary Opening Bal. Closing Bal BANK DEPOSIT ACCOUNTS 8188 MONOGRAM CHECKING 250,471.81 71,527.3 RELATIONSHIP TOTAL 71,527.3

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Statement Period From April 01, 2021 To April 30, 2021 Page 2 of 4 PRIVATE CLIENT GROUP 265 50 WEST 57TH STREET NEW YORK, NY 10019 ADARA ENTERPRISES CORP 8-265 411 E 57TH ST, SUITE 1-A NEW YORK NY 10022 See Back for Important Information Primary Account: 8188 0 MONOGRAM CHECKING 8188 Summary Previous Balance as of April 01, 2021 250,471.8 1 Credits 60.6 14 Debits 179,005.0 Ending Balance as of April 30, 2021 71,527.3 Deposits and Other Credits Apr 01 ONLINE TRANSFER CREDIT 60.6 ONLINE XFR FROM: XXXXXX8196 Withdrawals and Other Debits Apr 01 AUTOMATED PAYMENT ck/ref no. 982788 750.0 NJ WEB PMT 02301 NJWEB02301 091000015282038 TXP*B411838502000*02301*201230*T*75000*****\ Apr 05 AUTOMATED PAYMENT ck/ref no. 1377679 94.4 ADP TAX ADP TAX KHBLG 9135087VV Apr 07 OUTGOING WIRE 3,000.0 REF# 20210407B6B7261F002747 TO: DMS BANK TRUST LTD ABA: 021000018 BANK: THE BANK OF NEW YORK MELLON ACCT# 9893 OBI: INV SIN000124 & SIN000125 OBI: OBI: Apr 09 OUTGOING WIRE 5,000.0 REF# 20210409B6B7261F004583 TO: FRANCIS RUCHALSKI ABA: 021407912 BANK: CAPITAL ONE, NA ACCT# 3771 Apr 09 OUTGOING WIRE 5,000.0 REF# 20210409B6B7261F004584 TO: WKL ADVISORS, LLC ABA: 021000021 BANK: JPMORGAN CHASE BANK, NA ACCT# 2105 Apr 09 OUTGOING WIRE 5,000.0

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Statement Period From April 01, 2021 To April 30, 2021 Page 3 of 4 PRIVATE CLIENT GROUP 265 50 WEST 57TH STREET NEW YORK, NY 10019 ADARA ENTERPRISES CORP 8-265 411 E 57TH ST, SUITE 1-A NEW YORK NY 10022 See Back for Important Information Primary Account: 8188 0 Date Description REF# 20210409B6B7261F004586 TO: MERRILL LYNCH ABA: 026009593 BANK: BANK OF AMERICA, N.A., NY ACCT# 3516 OBI: FOR FINAL CREDIT : MR ALEXANDER SPIRO AND MS KATHERINE OBI: D SPIRO ACCOUNT 126 OBI: Apr 09 OUTGOING WIRE 5,000.0 REF# 20210409B6B7261F004588 TO: DANIEL STRAUSS ABA: 026013576 BANK: SIGNATURE BANK ACCT# 3470 Apr 09 OUTGOING WIRE 5,000.0 REF# 20210409B6B7261F004589 TO: DAIANA SERSEA ABA: 026013673 BANK: TD BANK, NA ACCT# 6132 Apr 09 AUTOMATED PAYMENT ck/ref no. 2044557 400.3 ADP PAYROLL FEES ADP - FEES 2RBLG 4789445 Apr 13 AUTOMATED PAYMENT ck/ref no. 2519638 16,307.6 ADP TAX ADP TAX KHBLG 041404A01 Apr 13 AUTOMATED PAYMENT ck/ref no. 2519566 26,206.8 ADP WAGE PAY WAGE PAY 640055573434BLG Apr 14 OUTGOING WIRE 460.0 REF# 20210414B6B7261F000969 TO: ANTHONY SERAFINA ABA: 291880589 BANK: WESTCONSIN CREDIT UNION ACCT# 2801 Apr 14 ONLINE TRANSFER DEBIT 50,000.0 ONLINE XFR TO: XXXXXX7726 Apr 19 OUTGOING WIRE 56,785.8 REF# 20210419B6B7261F000746 TO: GOULSTON STORRS ABA: 026009593 BANK: BANK OF AMERICA, N.A., NY ACCT# 0990 OBI: Ref# Inv 622371 OBI: OBI:

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Statement Period From April 01, 2021 To April 30, 2021 Page 4 of 4 PRIVATE CLIENT GROUP 265 50 WEST 57TH STREET NEW YORK, NY 10019 ADARA ENTERPRISES CORP 8-265 411 E 57TH ST, SUITE 1-A NEW YORK NY 10022 See Back for Important Information Primary Account: 8188 0 Daily Balances Mar 31 250,471.81 Apr 09 221,287.67 Apr 01 249,782.43 Apr 13 178,773.16 Apr 05 249,688.02 Apr 14 128,313.16 Apr 07 246,688.02 Apr 19 71,527.36 Rates for this statement period - Overdraft Apr 01, 2021 13.000000 %

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