HTML Document View

Full title: Debtor-In-Possession Monthly Operating Report for Filing Period May 2021 Filed by Gorham Paper and Tissue, LLC. (Katona, Shanti) (Entered: 06/21/2021)

Document posted on Jun 20, 2021 in the bankruptcy, 42 pages and 0 tables.

Bankrupt11 Summary (Automatically Generated)

In re: Gorham Paper and Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS Other Fxd Costs (375 Depr/Amort Non-Dir Trfr Cr - Non-Direct Transfer Credits Total Expenses (4,440.92) (260,221 Operating Profit (4,440.92) (238,977 Financing Total Financing Profit After Financing Expenses (4,440.92) (238,977 Other Revenues and Expenses Other Inc & Exp - Other Inc & Exp 277,055.51 1,381,28Total Other Revenues and Expenses 277,055.51 1,381,28 Profit Period 272,614.59 Solenis LLC (677,061.22) (677,06 HireRight, LLC (165.91) (16 Hisco Pump Inc. (100.54) (10 Honeywell (2,195.62) (2,19 Industry Solutions Hubbard-Hall Inc. (3,540.60) (3,54 International (0.05) ( Forest Products, LLC- DIP Imerys Talc DIP (3.40) ( Integrity Express (1,300.00) (1,30 Logistics, LLC Last Statement Previous Balance Total Credits Total Debits This Statement Current Balance04/30/21 $4,776.77 $302,569.75 (4) $244,801.59 (6) 05/28/21 $62,544.93 Minimum Balance $4,776.77 Other Fxd Costs (375 Depr/Amort Non-Dir Trfr Cr - Non-Direct Transfer Credits Total Expenses (4,440.92) (213,881 Operating Profit (4,440.92) (217,118 Financing Total Financing Profit After Financing Expenses (4,440.92) (217,118 Other Revenues and Expenses Other Inc & Exp - Other Inc & Exp (36,830.95) 52,05Total Other Revenues and Expenses (36,830.95)

List of Tables

Document Contents

UNITED STATES BANKRUPTCY COURT DISTRICT OF DELAWARE In re: Gorham Paper and Tissue, LLC Case No: 20-12814 (KBO) Reporting Period: May 2021 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 case. Document Explanation Affidavit/Supplement REQUIRED DOCUMENTS Form No. Attached Attached Attached
Table 1 on page 1. Back to List of Tables
Schedule of Cash Receipts and Disbursements MOR-1 XXX
Bank Reconciliation (or copies of debtor's bank reconciliations) MOR-1a XXX
Schedule of Professional Fees Paid MOR-1b XXX
Copies of bank statements XXX
Cash disbursements journals XXX
Statement of Operations MOR-2 XXX
Balance Sheet MOR-3 XXX
Status of Postpetition Taxes MOR-4 XXX
Copies of IRS Form 6123 or payment receipt none
Copies of tax returns filed during reporting period none
Summary of Unpaid Postpetition Debts MOR-4 XXX
Listing of aged accounts payable MOR-4 XXX
Accounts Receivable Reconciliation and Aging MOR-5 XXX
Debtor Questionnaire MOR-5 XXX
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. _______________________________________ ______________________________Signature of Debtor Date _______________________________________ ______________________________Signature of Joint Debtor Date Wayne Johnson 6/16/2021 Signature of Authorized Individual* Date Wayne Johnson CFO 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.

1

In re: Gorham Paper and Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021SCHEDULE 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 Rceopluomrtinngs. P eTrihoed :a Amporiul n20ts2 1reported 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 4,776.77 0.00 0.00 0.00 4,776.77 (95,446.27) 12,587.35 12,587.35 RECEIPTS
Table 1 on page 2. Back to List of Tables
CASH SALES 0.00 0.00 0.00 0.00 656.85 0.00
ACCOUNTS RECEIVABLE 8,000.00 0.00 0.00 0.00 8,000.00 8,000.00 1,757,284.81 3,725,609.48
LOANS AND ADVANCES 0.00 0.00 0.00 0.00 1,500,000.00 1,500,000.00
SALE OF ASSETS 0.00 0.00 0.00 0.00 0.00 5,638,053.00
OTHER (ATTACH LIST) ** 94,569.75 0.00 0.00 0.00 94,569.75 75,000.00 406,362.31 3,074,384.46
TRANSFERS (FROM DIP ACCTS) 200,000.00 0.00 0.00 0.00 200,000.00 4,343,001.27 5,420,471.00
TOTAL RECEIPTS 302,569.75 0.00 0.00 0.00 302,569.75 83,000.00 8,007,305.24 19,358,517.94
In re: Gorham Paper and Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021SCHEDULE 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 Rceopluomrtinngs. P eTrihoed :a Amporiul n20ts2 1reported 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 4,776.77 0.00 0.00 0.00 4,776.77 (95,446.27) 12,587.35 12,587.35 RECEIPTSDISBURSEMENTS
Table 2 on page 2. Back to List of Tables
NET PAYROLL 4,937.96 0.00 0.00 0.00 4,937.96 6,000.00 1,095,903.90 1,284,750.00
PAYROLL TAXES 0.00 0.00 0.00 0.00 0.00 0.00
SALES, USE, & OTHER TAXES 0.00 0.00 0.00 0.00 0.00 0.00
INVENTORY PURCHASES 44,448.76 0.00 0.00 0.00 44,448.76 44,448.76 3,649,172.37 3,893,412.38
SECURED/ RENTAL/ LEASES 0.00 0.00 0.00 0.00 0.00 0.00
INSURANCE 0.00 0.00 0.00 0.00 425,655.88 598,954.51
ADMINISTRATIVE 1,000.25 0.00 0.00 0.00 1,000.25 11,111.11 102,521.62 60,161.02
SELLING 0.00 0.00 0.00 0.00 0.00 0.00
OTHER (ATTACH LIST) ***** 188,656.92 0.00 0.00 0.00 188,656.92 188,656.92 1,427,366.81 5,471,097.52
OWNER DRAW * 0.00 0.00 0.00 0.00 0.00 0.00
TRANSFERS (TO DIP ACCTS) *** 0.00 0.00 0.00 0.00 75,001.27 0.00
PROFESSIONAL FEES 5,757.70 0.00 0.00 0.00 5,757.70 5,757.70 1,236,058.08 3,496,534.98
U.S. TRUSTEE QUARTERLY FEES 0.00 0.00 0.00 0.00 144,918.00 471,363.69
COURT COSTS 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL DISBURSEMENTS 244,801.59 0.00 0.00 0.00 244,801.59 255,974.49 8,156,597.93 15,276,274.10
In re: Gorham Paper and Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021SCHEDULE 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 Rceopluomrtinngs. P eTrihoed :a Amporiul n20ts2 1reported 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 4,776.77 0.00 0.00 0.00 4,776.77 (95,446.27) 12,587.35 12,587.35 RECEIPTSDISBURSEMENTSNET CASH FLOW 57,768.16 0.00 0.00 0.00 57,768.16 (172,974.49) (149,292.69) 4,082,243.84(RECEIPTS LESS DISBURSEMENTS) CASH - END OF MONTH 62,544.93 0.00 0.00 0.00 62,544.93 (268,420.76) 62,544.93 (268,420.76)* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE 0.00 0.00 THE FOLLOWING SECTION MUST BE COMPLETED DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN)
Table 3 on page 2. Back to List of Tables
TOTAL DISBURSEMENTS 244,801.59
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS 0.00
**** PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts) 0.00
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES 244,801.59
** Assumed Liabilities adjustment payment from White Mountain Paper for $92,808.62 and a Debit AP balance payment from Suburban for $1,761.13***** Settlement with Resolute FP US for 503(b)(9) claims

2

In re: Gorham Paper and Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021BANK RECONCILIATIONS Continuation Sheet for MOR-1 t be included for each bank account. The debtor's bank reconciliation may be substituted for this page. Reporting Period: April 2021Operating Payroll Tax Other # 0234 # # # BALANCE PER BOOKS 62,544.93 0.00 0.00 0.00
Table 1 on page 3. Back to List of Tables
BANK BALANCE 62,544.93 0.00 0.00 0.00 None
(+) DEPOSITS IN TRANSIT (ATTACH LIST) 0.00 0.00 0.00 None
(-) OUTSTANDING CHECKS (ATTACH LIST) 0.00 0.00 0.00 None
OTHER (ATTACH EXPLANATION) 0.00 0.00 0.00 None
ADJUSTED BANK BALANCE * 62,544.93 0.00 0.00 0.00 None
* Adjusted bank balance must equal
balance per books 0.00
check (s/b 0)
DEPOSITS IN TRANSIT Date Amount Date Amount Date Amount Date Amount
CHECKS OUTSTANDING Ck. # Amount Ch. # Amount Ck. # Amount Ck. # Amount
None
None
None
None
None
None
None
None
None
None
None
None
None

3

In re: Gorham Paper and Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID This schedule is to include all retained professional payments from case inception to current month. Reporting Period: April 2021
Table 1 on page 4. Back to List of Tables
Payee Period Covered Amount
Approved
Payor Check None Amount Paid None Year-To-Date None
None None None None Number Date Fees Expenses Fees Expenses
Bernstein, Shur (IOLTA) Post-Petition Gorham Paper and Tissue $ 375,000.00 $ -
Polsinelli (IOLTA) Post-Petition Gorham Paper and Tissue $ 150,000.00 $ -
Argus Management Post-Petition Gorham Paper and Tissue $ 46,500.00 $ 6.01
Donlin Recano Post-Petition Gorham Paper and Tissue 19456 5/4/2021 $ 5,444.37 $ 313.33 $ 94,802.44 $ 792.41
Reed Smith Post-Petition $ 237,648.00 $ 1,205.65

4

In re: Gorham Paper and Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021STATEMENT OF OPERATIONS (Income Statement) Reporting Period: April 2021 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 $ $ Less: Returns and Allowances Net Revenue $ $ COST OF GOODS SOLD
Table 1 on page 5. Back to List of Tables
Beginning Inventory
Please see separate file:
Add: Purchases
Add: Cost of Labor
Profit and Loss Statement -Gorh
Add: Other Costs (attach schedule)
am Paper and Tissue -M ay 2021.pdf
Less: Ending Inventory
Cost of Goods Sold
Gross Profit
In re: Gorham Paper and Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021STATEMENT OF OPERATIONS (Income Statement) Reporting Period: April 2021 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 $ $ Less: Returns and Allowances Net Revenue $ $ COST OF GOODS SOLDOPERATING EXPENSES
Table 2 on page 5. Back to List of Tables
Advertising
Auto and Truck Expense
Bad Debts
Contributions
Employee Benefits Programs
Insider Compensation*
Insurance
Management Fees/Bonuses
Office Expense
Pension & Profit-Sharing Plans
Repairs and Maintenance
Rent and Lease Expense
Salaries/Commissions/Fees
Supplies
Taxes - Payroll
Taxes - Real Estate
Taxes - Other
Travel and Entertainment
Utilities
Other (attach schedule)
Total Operating Expenses Before Depreciation
Depreciation/Depletion/Amortization
Net Profit (Loss) Before Other Income & Expenses
In re: Gorham Paper and Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021STATEMENT OF OPERATIONS (Income Statement) Reporting Period: April 2021 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 $ $ Less: Returns and Allowances Net Revenue $ $ COST OF GOODS SOLDOPERATING EXPENSESOTHER INCOME AND EXPENSES Other Income (attach schedule) Interest Expense Other Expense (attach schedule) Net Profit (Loss) Before Reorganization Items REORGANIZATION ITEMS
Table 3 on page 5. Back to List of Tables
Professional Fees
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
Income Taxes
Net Profit (Loss) $ $
*"Insider" is defined in 11 U.S.C. Section 101(31).

5

Posting Date: From 05/01/21 To 05/31 Template: Chart of Acco Report Cycle: Annual Re Transaction Cross-Section by Posting Date Currenc Account Name Balance Year-to- Revenues Revenues - Revenues 69,29 Total Revenues 69,29 Cost of Sales Direct Material (45,728 Direct Wages (2,050 Other Direct (273 Total Cost of Sales (48,052 Gross Profit 21,24 Expenses Fixed Wages (1,825.37) (10,913 Fixed Services (2,615.55) (236,610 Base Load - Base Load (12,182 Fixed Mtc (139 Fixed Supplies Taxes - Property Taxes Insurance - Property Insurance Other Fxd Costs (375 Depr/Amort Non-Dir Trfr Cr - Non-Direct Transfer Credits Total Expenses (4,440.92) (260,221 Operating Profit (4,440.92) (238,977 Financing Total Financing Profit After Financing Expenses (4,440.92) (238,977 Other Revenues and Expenses Other Inc & Exp - Other Inc & Exp 277,055.51 1,381,28Total Other Revenues and Expenses 277,055.51 1,381,28 Profit Period 272,614.59 1,142,30 =================== ================

6

In re: Gorham Paper and Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021 BALANCE SHEET The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be Rcleapssoirftieindg s Peperairoadte: lAy pfrroilm 2 0p2o1stpetition obligations. BOOK VALUE AT END OF BOOK VALUE ON ASSETS CURRENT REPORTING MONTH PETITION DATE CURRENT ASSETS
Table 1 on page 7. Back to List of Tables
Unrestricted Cash and Equivalents 62,545 13,480
Restricted Cash and Cash Equivalents (see continuation sheet) 0
Accounts Receivable (Net) 155,227 74,757
Notes Receivable 10,624,929 15,144,504
Inventories 1,285,110
Prepaid Expenses 272,866
Professional Retainers 0
Other Current Assets (attach schedule)
TOTAL CURRENT ASSETS 10,842,701 16,790,717
In re: Gorham Paper and Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021 BALANCE SHEET The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be Rcleapssoirftieindg s Peperairoadte: lAy pfrroilm 2 0p2o1stpetition obligations. BOOK VALUE AT END OF BOOK VALUE ON ASSETS CURRENT REPORTING MONTH PETITION DATE CURRENT ASSETS PROPERTY AND EQUIPMENT
Table 2 on page 7. Back to List of Tables
Real Property and Improvements 2,171,831
Machinery and Equipment 15,295,361
Furniture, Fixtures and Office Equipment
Leasehold Improvements
Vehicles
Less Accumulated Depreciation (13,547,299)
TOTAL PROPERTY & EQUIPMENT 0 3,919,893
In re: Gorham Paper and Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021 BALANCE SHEET The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be Rcleapssoirftieindg s Peperairoadte: lAy pfrroilm 2 0p2o1stpetition obligations. BOOK VALUE AT END OF BOOK VALUE ON ASSETS CURRENT REPORTING MONTH PETITION DATE CURRENT ASSETS PROPERTY AND EQUIPMENTOTHER ASSETS
Table 3 on page 7. Back to List of Tables
Loans to Insiders* 3,000,000 3,000,000
Other Assets (attach schedule) 0
TOTAL OTHER ASSETS 3,000,000 3,000,000
TOTAL ASSETS 13,842,701 23,710,610
In re: Gorham Paper and Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021 BALANCE SHEET The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be Rcleapssoirftieindg s Peperairoadte: lAy pfrroilm 2 0p2o1stpetition obligations. BOOK VALUE AT END OF BOOK VALUE ON ASSETS CURRENT REPORTING MONTH PETITION DATE CURRENT ASSETS PROPERTY AND EQUIPMENTOTHER ASSETS BOOK VALUE AT END OF BOOK VALUE ON LIABILITIES AND OWNER EQUITY CURRENT REPORTING MONTH PETITION DATELIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition)
Table 4 on page 7. Back to List of Tables
Accounts Payable 107,121
Taxes Payable (refer to FORM MOR-4) 0
Wages Payable 0
Notes Payable
Rent / Leases - Building/Equipment 0
Secured Debt / Adequate Protection Payments 341,126
Professional Fees 74,104
Amounts Due to Insiders* 0
Other Postpetition Liabilities (attach schedule) 0
TOTAL POSTPETITION LIABILITIES 522,351 0
In re: Gorham Paper and Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021 BALANCE SHEET The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be Rcleapssoirftieindg s Peperairoadte: lAy pfrroilm 2 0p2o1stpetition obligations. BOOK VALUE AT END OF BOOK VALUE ON ASSETS CURRENT REPORTING MONTH PETITION DATE CURRENT ASSETS PROPERTY AND EQUIPMENTOTHER ASSETS BOOK VALUE AT END OF BOOK VALUE ON LIABILITIES AND OWNER EQUITY CURRENT REPORTING MONTH PETITION DATELIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition)LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)
Table 5 on page 7. Back to List of Tables
Secured Debt 48,155,226 54,260,933
Priority Debt
Unsecured Debt 15,332,764 13,852,043
TOTAL PRE-PETITION LIABILITIES 63,487,990 68,112,976
In re: Gorham Paper and Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021 BALANCE SHEET The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be Rcleapssoirftieindg s Peperairoadte: lAy pfrroilm 2 0p2o1stpetition obligations. BOOK VALUE AT END OF BOOK VALUE ON ASSETS CURRENT REPORTING MONTH PETITION DATE CURRENT ASSETS PROPERTY AND EQUIPMENTOTHER ASSETS BOOK VALUE AT END OF BOOK VALUE ON LIABILITIES AND OWNER EQUITY CURRENT REPORTING MONTH PETITION DATELIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition)LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)TOTAL LIABILITIES 64,010,340 68,112,976 OWNER EQUITY
Table 6 on page 7. Back to List of Tables
Capital Stock
Additional Paid-In Capital
Partners' Capital Account
Owner's Equity Account
Retained Earnings - Pre-Petition (44,402,366) (44,402,366)
Retained Earnings - Postpetition (5,765,274)
Adjustments to Owner Equity (attach schedule)
Postpetition Contributions (Distributions) (Draws) (attach schedule)
NET OWNER EQUITY (50,167,640) (44,402,366)
TOTAL LIABILITIES AND OWNERS' EQUITY 13,842,701 23,710,610 None None
*"Insider" is defined in 11 U.S.C. Section 101(31). 0 0

7

Posting Date: To: 05/3 Template: Chart of Acco Report Cycle: Annual Re Transaction Cross-Section by Posting Date: Currenc Account Name Balance System Cur Assets Current Assets - Current Assets Cash - Cash 1014-00-00 - Cash Bank of NH Checking 62,544.93 62,5 Total Cash - Cash 62,544.93 62,5 Receivables - Receivables 1101-00-00 - Accounts Receivable 155,226.53 155,2 1150-00-00 - Interco Receivable - WMT 10,624,929.31 10,624,9Total Receivables - Receivables 10,780,155.84 10,780,1 Total Current Assets - Current Assets 10,842,700.77 10,842,7Fixed Assets - Fixed Assets Total Fixed Assets - Fixed Assets Other LT Assets - Other Long Term Assets Other Assets - Other Assets 1903-00-00 - Term Loan 3 Receivable - WMT 3,000,000.00 3,000,0Total Other Assets - Other Assets 3,000,000.00 3,000,0 Total Other LT Assets - Other Long Term Assets 3,000,000.00 3,000,0Total Assets 13,842,700.77 13,842,7 $ 13,842,700.77 $ 13,842,70 ============= ========== Liabilities Liabilities - Liabilities Current Liab. - Current - Liabilities 2010-00-00 - Accounts Payable 12,996,440.63 12,996,4 2020-00-00 - Accounts Payable - Manual Accrual 70,800.39 70,82100-00-00 - Accrued Expenses 493,560.00 493,5

8

Currenc Account Name Balance System Cur 2110-00-00 - Accrued Interest 501,426.75 501,4 2120-00-00 - Accrued Legal & Audit 12,000.00 12,0 2290-00-00 - Series A Preferred Stock Int Payable 5,500,000.00 5,500,0Total Current Liab. - Current - Liabilities 19,574,227.77 19,574,2Long Term Liab. - Long Term - Liabilities 2501-00-00 - Revolving Credit Loan-ZOHAR III LIMITED 25,535,939.29 25,535,92601-00-00 - Term Loan DDTLB - ZOHAR III LIIMITED 18,871,090.31 18,871,02610-00-00 - BFA Capital Improvement Loan 29,082.92 29,0 Total Long Term Liab. - Long Term - Liabilities 44,436,112.52 44,436,12999 Total Liabilities - Liabilities 64,010,340.29 64,010,3 Total Liabilities 64,010,340.29 64,010,3 Equity Equity - Equity Capital - Capital 3900-00-00 - Retained Earnings (13,995,248.10) (13,995,24 3930-00-00 - Series A Preferred Stock (5,500,000.00) (5,500,00Total Capital - Capital (19,495,248.10) (19,495,24 Total Equity - Equity (19,495,248.10) (19,495,24 Profit Period (30,672,391.42) (30,672,39 Total Equity (50,167,639.52) (50,167,63 $ 13,842,700.77 $ 13,842,70 ============= ==========

9

In re: Gorham Paper and Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021STATUS OF POSTPETITION TAXES The beginning tax liability should be the ending liability from the prior month or, if this isR thepe ofrirtisnt gr ePpeorrito, dt:h eA apmrilo 2u0n2t 1should 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
Table 1 on page 10. Back to List of Tables
Withholding 0 0 0 0
FICA-Employee 0 0 0 0
FICA-Employer 0 0 0 0
Unemployment 0 0 0 0
Income 0 0 0 0
Other:_________________ 0 0 0 0
Total Federal Taxes 0 0 0 0
In re: Gorham Paper and Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021STATUS OF POSTPETITION TAXES The beginning tax liability should be the ending liability from the prior month or, if this isR thepe ofrirtisnt gr ePpeorrito, dt:h eA apmrilo 2u0n2t 1should 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 FederalState and Local
Table 2 on page 10. Back to List of Tables
Withholding 0 0 0 0
Sales 0 0 0 0
Excise 0 0 0 0
Unemployment 0 0 0 0
Real Property 0 0 0 0
Personal Property 0 0 0 0
Other:_________________ 0 0 0 0
Total State and Local 0 0 0 0
Total Taxes 0 0 0 0
In re: Gorham Paper and Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021STATUS OF POSTPETITION TAXES The beginning tax liability should be the ending liability from the prior month or, if this isR thepe ofrirtisnt gr ePpeorrito, dt:h eA apmrilo 2u0n2t 1should 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 FederalState and LocalSUMMARY 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
Table 3 on page 10. Back to List of Tables
Accounts Payable 0 5,159 1,508 (4,937) 105,391 107,121
Wages Payable 0 0
Taxes Payable 0 0
Rent/Leases-Building 0 0
Rent/Leases-Equipment 0 0
Secured Debt/Adequate Protection Payments 37,051 36,578 37,909 35,705 193,883 341,126
Professional Fees 0 2,723 (12,556) (232,512) 316,450 74,104
Amounts Due to Insiders* 0 0
Other:__________________________ 0
Other:__________________________ 0
Total Postpetition Debts 37,051 44,460 26,861 (201,743) 615,723 522,351
Explain how and when the Debtor intends to pay any past-due postpetition debts. *"Insider" is defined in 11 U.S.C. Section 101(31).

10

In re: Gorham Paper and Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021ACCOUNTS RECEIVABLE RECONCILIATION AND AGING Accounts Receivable Reconciliation Amount
Table 1 on page 11. Back to List of Tables
Total Accounts Receivable at the beginning of the reporting period 184,629.85
+ Amounts billed during the period 0.00
- Amounts collected during the period 8,000.00
Total Accounts Receivable at the end of the reporting period 155,226.53
In re: Gorham Paper and Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021ACCOUNTS RECEIVABLE RECONCILIATION AND AGING Accounts Receivable Reconciliation AmountAccounts Receivable Aging Amount
Table 2 on page 11. Back to List of Tables
0 - 30 days old 0.00
31 - 60 days old 0.00
61 - 90 days old 0.00
91+ days old 155,226.53
Total Accounts Receivable 155,226.53
Amount considered uncollectible (Bad Debt) 0.00
Accounts Receivable (Net) 155,226.53
In re: Gorham Paper and Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021ACCOUNTS RECEIVABLE RECONCILIATION AND AGING Accounts Receivable Reconciliation AmountAccounts Receivable Aging AmountDEBTOR QUESTIONNAIRE Must be completed each month Yes No
Table 3 on page 11. Back to List of Tables
1. Have any assets been sold or transferred outside the normal course of business
this reporting period? If yes, provide an explanation below.
XXX
2. Have any funds been disbursed from any account other than a debtor in possession
account this reporting period? If yes, provide an explanation below.
XXX
3. Have all postpetition tax returns been timely filed? If no, provide an explanation
below.
XXX
4. Are workers compensation, general liability and other necessary insurance
coverages in effect? If no, provide an explanation below.
XXX
5. Has any bank account been opened during the reporting period? If yes, provide
documentation identifying the opened account(s). If an investment account has been opened
provide the required documentation pursuant to the Delaware Local Rule 4001-3.
XXX
4) Policies transferred to buyer at asset sale on 12/31/20

11

Age by: Posting Date Aging Date: 05/31/21 Posting Date: From To 05/31/21 BP: From To Customer Group: All Curren BP Name Total Future Remit 0 - 30 31 - 60 61 - 90 91 - 120 ABATRON, INC (1,984.90) (1,98 ABB, Inc (2,028.03) (2,02 ABK Italia S.P.A 8,433.00 8,4 ABP CANADA (4,032.00) (4,03 Aikawa Fiber (7,082.00) (7,08 Technologies A.I.M. Mutual (7,906.00) (7,90 Insurance Company - GPT DIP Airgas, Inc. (3,796.83) (3,79 Albany (203,090.00) (203,09 International Corp Alexander Isley, (6,500.00) (6,50 Inc. Allagash Valve & (515.00) (51 Controls PAK Solutions LLC (10,585.50) (10,58 American Paper (7,789.72) (7,78 Recycling Anchin, Block + (30,489.00) (30,48 Anchin LLP Androscoggin (1,563.00) (1,56 Valley Hospital Ankura Trust (70,000.00) (70,00 Company, LLC Ankura Trust (1,195,866.20) (1,195,86 Company, LLC Ankura Trust (80,429.15) (80,42 Company, LLC - GPT DIP Nidec Industrial (5,760.25) (5,76 Solutions Applied Industrial (16,218.76) (16,21 Technologies, Inc. Applied Technical (500.00) (50 Services, Inc

12

Curren BP Name Total Future Remit 0 - 30 31 - 60 61 - 90 91 - 120 Argus (11,625.00) 5,310.00 41,196.01 (6,637.50) (51,49Management Corporation - GPT DIP ARI Logistics, LLC (3,400.00) (3,40 Dick Arnold - GPT (450.00) (450.00) DIP ATLANTIC (17,209.17) (17,20 PACKAGING PRODUCTS LTD-Fibers Axchem USA, Inc. (79,624.97) (79,62 Business and (2,857.00) (2,85 Industry Association of NH Baker Newman & (48,675.00) (48,67 Noyes, LLC Bancroft (40,280.60) (40,28 Contracting Corporation Benefit (1,803.09) (1,80 Strategies, LLC Berlin City's (1,618.96) (1,61 Chevrolet Buick, Inc Berlin Marketplace (98.66) (9 Bernstein, Shur, (15,243.00) (15,243.00) Sawyer & Nelson, P.A - GPT DIP NH Business (11,749.74) (11,74 Finance Authority BFO Gene Kelly (6,490.00) (6,49 Trucking Bingham (159.53) (15 Greenbaum Doll LLP BMC Diving Inc. (1,100.00) (1,10 O'REILLY (150.41) (15 AUTOMOTIVE, INC. Bonetti Co. Inc. 2,742.56 2,7 Bonetti Co. Inc. - 49.59 GPT DIP Border Freight (8,250.00) (8,25 Transportation Bowman Sales & (3,000.00) (3,00 Equipment Inc. dba Bowman Trailer Leasing

13

Curren BP Name Total Future Remit 0 - 30 31 - 60 61 - 90 91 - 120 BerryDunn (51,055.00) (51,05 Bridge View Paper (62,221.60) (62,22 Co, LLC Rolland 10.00 Enterprises Inc. BTG AMERICAS (14,304.00) (14,30 INC. Byo-Gon, Inc (9,400.00) (9,40 CanAm Fibers, (13,154.02) (13,15 Inc. Capital Research (875.00) (87 Capitol Alarm (1,001.00) (1,00 Systems Caraustar (4,339.20) (4,33 Industrial Products Group Caron Building 24.10 and Rental Center, Inc. CARISTRAP (299.73) (29 INTERNATIONAL INC. William Caron (49.95) (4 Cascades Auburn 0.09 Fiber, Inc. Central 496.20 4 National-Gottesm an, Inc. Corcoran (6,674.50) (6,67 Environmental Services Inc Chute Chemical (5,859.00) (5,85 Company Cintas (1,235.72) (1,23 Corporation CLEMENT-LAVOIE (6,075.00) (6,07 ENT Clifford Paper, (51.17) (5 Inc C.N. Brown Company C.N. Brown 207.41 2 Company - GPT DIP COMPETITIVE 4,421.87 4,4 ENERGY SERVICES

14

Curren BP Name Total Future Remit 0 - 30 31 - 60 61 - 90 91 - 120 COMPETITIVE 269.88 4,936.55 (4,66 ENERGY SERVICES - GPT DIP Constellation (141,444.18) (141,44 NewEnergy, Inc. Continental Disc (760.07) (76 Corp. Daniels (3,595.00) (3,59 Landscaping, LLC Dennison (7,138.39) (7,13 Lubricants, Inc. Donlin, Recano & 22,277.48 (2,722.52) 25,000.00 Company, Inc - GPT DIP Douglas Pipeline (55,451.40) (55,45 Company David Douin & (550.00) (55 Associates, LLC Drummond (11,447.90) (11,44 Woodsum & MacMahon DTE Energy (91,746.59) (91,74 Trading, Inc. DTE Energy 2,268.06 2,2 Trading, Inc. - DIP DuBois Chemicals (155.36) (15 Inc. Dynatics (146.62) (14 Eastern (1,330.00) (1,33 Analytical, Inc. El Dorado USA 0.82 Inc. Energy Resources (3,376.53) (3,37 Group, Inc. ENTHALPY (2,384.00) (2,38 ANALYTICAL, LLC Eversource - 0344 & 0260 Eversource - (2,506.58) (2,50 Smaill Power Eversource - (4,284.88) (4,28 Service Everything Pump, (1,157.16) (1,15 LLC Consolidated (736.70) (73 Communications

15

Curren BP Name Total Future Remit 0 - 30 31 - 60 61 - 90 91 - 120 FedEx (2,331.15) (2,33 Filters, Water & (942.75) (94 Instrumentation, Inc. Fibre Source 579.12 5 International Corp M.L. Gatewood (2,592.16) (2,59 Co. The Gilman (3,075.00) (3,07 Brothers Company Valmet / GL&V (19,961.07) (19,96 USA, Inc. Gorham Water & (6,775.47) (6,77 Sewer Dept. Go Time (600.00) (60 Restrooms Greenville (6,957.54) (6,95 Colorants Group Dynamic (69.19) (6 Inc Gulf Island Pond (519,401.60) (519,40 Oxygenation Project Helwig Carbon (3,179.03) (3,17 Products Inc. Solenis LLC (677,061.22) (677,06 HireRight, LLC (165.91) (16 Hisco Pump Inc. (100.54) (10 Honeywell (2,195.62) (2,19 Industry Solutions Hubbard-Hall Inc. (3,540.60) (3,54 International (0.05) ( Forest Products, LLC- DIP Imerys Talc DIP (3.40) ( Integrity Express (1,300.00) (1,30 Logistics, LLC International (4,721.81) (4,72 Paper Stuart C. Irby Co. (791.97) (79 Johnston Dandy (36,750.00) (36,75 Company Jud Corporation (6,570.42) (6,57

16

Curren BP Name Total Future Remit 0 - 30 31 - 60 61 - 90 91 - 120 Sanel / NAPA (2,445.13) (2,44 KL Jack & Co. Inc (713.45) (71 Kruger (225,025.47) (225,02 LOGISTIC (3,450.00) (3,45 DYNAMICS Mario Cotta (9,951.87) (9,95 America LLC Milbank, LLP (8,582.42) (8,58 Milton Cat (1,955.25) (1,95 Monson (41,249.00) (41,24 Companies, Inc. Monson Paper, (181,166.16) (181,16 LLC (Settlement) Monson Paper, (0.03) ( LLC Monson 15.25 Companies, Inc. - GPT DIP Montgomery (109.00) (10 International Inc. The Newark 60.00 Group New England (461.35) (46 Communications Inc. N.H. Bragg & (467.48) (46 Sons Normandeau (15,613.25) (15,61 Trucking, Inc. Northeast Utilities (28,828.14) (28,82 System Northstar Pulp & (13,008.06) (13,00 Paper NSF Certification, (8,049.00) (8,04 LLC NSI Solutions, (2,037.00) (2,03 Inc. Old Town Fuel & (1,831,277.85) (1,831,27 Fiber Pack4 LLC (1,474.00) (1,47 Pall Corporation (3,330.41) (3,33 Paperchine Inc. (36,711.99) (36,71 Patriarch Partners (2,241,600.27) (2,241,60 Agency Services

17

Curren BP Name Total Future Remit 0 - 30 31 - 60 61 - 90 91 - 120 Patriarch Partners (30,091.85) (30,09 LLC Patriarch Partners (2,378,647.00) (2,378,64 Management Group LLC Petty Cash (9.02) ( Polsinelli - GPT (8,866.25) (8,866.25) DIP Portland Natural (58,549.89) (58,54 Gas Transmission System The Predictive (300.00) (30 Index Presby Steel, LLC (0.50) ( Prime Electric (500.00) (50 Motors Inc PT Papertech Inc. (474.55) (47 Law Calibration (2,716.70) (2,71 LLC RECYCLING (1,025,170.85) (1,025,17 ASSOCIATES INC. Recon Pump (2,373.59) (2,37 Services RECYCLING 772.62 7 ASSOCIATES INC. - GPT DIP Reed, Armstrong, (2,303.82) (2,30 Mudge & Morrissey Reed Smith LLP - (60,647.00) 6,355.50 191,316.15 1,190.00 (259,50GPT DIP RISI Inc. (1,815.00) (1,81 WESTROCK CP, 17,524.62 17,5 LLC Rockingham (1,241.80) (1,24 Electrical Supply Company, Inc. RPF (1,860.00) (1,86 Environmental, Inc. Sanels Napa (6,438.80) (6,43 SCA Transaction (25,000.00) (25,00 Services LLC Schneider (4,351.74) (4,35 SGS North (27.00) (2 America

18

Curren BP Name Total Future Remit 0 - 30 31 - 60 61 - 90 91 - 120 SHW Casting (15,599.00) (15,59 Technologies Inc. Select Products (39,095.70) (39,09 Holdings Sonoco Products (27,659.89) (27,65 Company Splice Solutions (19,588.80) (19,58 Inc St. Hilaire (3,240.00) (3,24 Contractors, Inc. Suburban (4,723.06) (4,72 Propane Teledyne ISCO, (5,617.00) (5,61 Inc. Tembec 1,120.60 1,1 The Hope Group (129.27) (12 LLC Thomas Scientific (988.78) (98 Time Warner (434.00) (43 Cable Timken Motor & (22,625.00) (22,62 Crane Services LLC Treasurer, State (600.00) (60 of New Hampshire Tuckers Auto (159.60) (15 Electric UPS Supply Chain (57.92) (5 Solutions, Inc. U.S. Department (168,510.75) (168,51 of Labor-OSHA Valmet Ltd (102,798.00) (102,79 Verizon Wireless (889.10) (88 Verizon Wireless - (0.36) 0.36 GPT DIP Vets Securing (128,821.44) (128,82 America VINCENT (11,825.07) (11,82 CORPORATION Voith Paper Fabric (443,189.20) (443,18 & Roll Systems M. Wayne (3,200.74) (3,200.74) Johnson - GPT DIP W.B. Mason (4,384.87) (4,38

19

Curren BP Name Total Future Remit 0 - 30 31 - 60 61 - 90 91 - 120 Wells Fargo (9,047.82) (1,507.97) (1,507.97) (6,031.88)Equipment Finance - GPT DIP Western Express (5,150.00) (5,15 Inc. White Mountain 19.21 Lumber Co., Inc. Williams & (9,378.72) (9,37 Connolly LLP William Kenyon & (2,999.34) (2,99 Sons Inc. Veritiv Operating (36,057.60) (36,05 Company ( XPEDX) Xylem, Inc. USA (4,400.00) (4,40 Zoro Tools, Inc. (3,856.28) (3,85 dba Zoro Total: $ $ -7,881.59 $ 11,048.28 $ 237,448.71 $ -11,479.02-12,996,440.63 -13,225,5 Aging (%): % 100.00 % 0.06 % -0.09 % -1.83 % 0.09 % 10

20

Age by: Due Date Aging Date: 05/31/21 Posting Date: From To 05/31/21 BP: From To Customer Group: All Curren BP Name Total Future Remit 0 - 30 31 - 60 61 - 90 91 - 120 AVRRDD 1,154.59 1,1 Bridge View Paper 83,974.45 83,9 Company, LLC Central (9,335.46) (9,33 National-Gottesm an, Inc. Paradigm 7,132.95 7,1 Marketing Enterprises RECYCLING 72,300.00 24,800.00 47,5 ASSOCIATES INC. Total: $ 155,226.53 $ 24,800.00 $ 130,42 Aging (%): % 100.00 % 15.98 % 8

21

ccount Number 0234 outing Number 211770271 ast 4 digits of GPT's Tax ID# - 6533 ate Description Receipts Disbursements Available Balance 4/30/2021 Bank Fee $ 999.75 $ 4,776.775/4/2021 WMT InterCo Payment transfer $ 2 00,000.00 $ 204,776.775/4/2021 Check#'s 19456-19457 $ 194,414.62 $ 10,362.155/11/2021 Convermat -Incoming wire $ 8 ,000.00 $ 18,362.155/13/2021 Check#'s 19458-19459 $ 4,937.96 $ 13,424.195/17/2021 White Mountain Paper - Incoming transfer $ 9 2,808.62 $ 106,232.815/21/2021 Check #'s 19460-19460 $ 44,448.76 $ 61,784.055/22/2021 Suburban check deposit $ 1 ,761.13 $ 63,545.185/28/2021 Bank Fee $ 1,000.25 $ 62,544.93

22

Primary Account: 0234 Period: 04/30/21 to 05/28/21 AAFFDATAADFFFAAFTAFFFADAADFDAAAATADDFDDATAFFTDDFFDDTDADAAAATADTFF'SRLNUM' 0.6200 WCL0001 30-0 GORHAM PAPER & TISSUE LLC 1 72 CASCADE FLT 5 GORHAM, NH 03581-1015 BUSINESS ACCOUNT Account: 0234 Last Statement Previous Balance Total Credits Total Debits This Statement Current Balance04/30/21 $4,776.77 $302,569.75 (4) $244,801.59 (6) 05/28/21 $62,544.93 Minimum Balance $4,776.77 Average Balance $95,961.68 TRANSACTIONS Date Description Credits Debits Balance 04/30 BEGINNING BALANCE ........................................... $4,776.77 05/04 780146 Online Xfer From Business XXXXXX2473 On 5/04/21 At 16:01 $200,000.00 $204,776.77 05/11 Incoming Wire Convermat Corp $8,000.00 $212,776.77 05/11 Check # 19457 $188,656.92 $24,119.85 05/14 Check # 19459 $4,362.96 $19,756.89 05/17 Transfer From XXXXX0883- Rb Gorham Aquisition Liability Settlement $92,808.62 $112,565.51 05/17 Check # 19456 $5,757.70 $106,807.81 05/20 Check # 19458 $575.00 $106,232.81 05/24 Deposit $1,761.13 $107,993.94 05/25 Check # 19460 $44,448.76 $63,545.18 05/28 Service Charge $1,048.20 Less $47.95 Credit Back $1,000.25 $62,544.93 05/28 ENDING BALANCE ........................................... $62,544.93

23

CHECKS Date Check No Amount Date Check No Amount Date Check No Amount05/17 19456 $5,757.70 05/20 19458 $575.00 05/25 19460 $44,448.7605/11 19457 $188,656.92 05/14 19459 $4,362.96 * Indicates a Gap in Check Number Sequence ITEMIZATION OF OVERDRAFT AND RETURNED ITEM FEES Total For Total This Period Year to Date Total Overdraft Fees $0.00 $0.00 Total Returned Item Fees $0.00 $0.00 ITEMIZATION OF SERVICE CHARGES Total Charge For Maintenance: $12.00 Total Charge For Check Processing Fee: $1.00 Total Charge For Transit: $0.20 Total Credit Back: $47.95- Total Charge For Domestic Wire Trans: $1,035.00 Total Service Charge Paid: $1,000.25

24

25

UNITED STATES BANKRUPTCY COURT DISTRICT OF DELAWARE In re: White Mountain Tissue, LLC Case No: 20-12814 (KBO) Reporting Period: May 2021 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 case. Document Explanation Affidavit/Supplement REQUIRED DOCUMENTS Form No. Attached Attached Attached
Table 1 on page 26. Back to List of Tables
Schedule of Cash Receipts and Disbursements MOR-1 XXX
Bank Reconciliation (or copies of debtor's bank reconciliations) MOR-1a XXX
Schedule of Professional Fees Paid MOR-1b XXX
Copies of bank statements XXX
Cash disbursements journals XXX
Statement of Operations MOR-2 XXX
Balance Sheet MOR-3 XXX
Status of Postpetition Taxes MOR-4 XXX
Copies of IRS Form 6123 or payment receipt none
Copies of tax returns filed during reporting period none
Summary of Unpaid Postpetition Debts MOR-4 XXX
Listing of aged accounts payable MOR-4 XXX
Accounts Receivable Reconciliation and Aging MOR-5 XXX
Debtor Questionnaire MOR-5 XXX
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. _______________________________________ ______________________________Signature of Debtor Date _______________________________________ ______________________________Signature of Joint Debtor Date Wayne Johnson 6/16/2021 Signature of Authorized Individual* Date Wayne Johnson CFO 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.

26

re: White Mountain Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS ounts 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 thest report, the amount should be the balance on the date the petition was filed. The amounts reported in the "CURRENT MONTH - ACTUAL" column mustual the sum of the four bank account columns. The amounts reported in the "PROJECTED" columns should be taken from the SMALL BUSINESS INITIALPORT (FORM IR-1) . Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journalst 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 SH BEGINNING OF MONTH 415,077.53 0.00 0.00 0.00 415,077.53 515,300.57 515,300.57 515,300.57 CEIPTS
Table 1 on page 27. Back to List of Tables
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 3,983,838.47 5,420,471.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 3,983,838.47 5,420,471.00
re: White Mountain Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS ounts 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 thest report, the amount should be the balance on the date the petition was filed. The amounts reported in the "CURRENT MONTH - ACTUAL" column mustual the sum of the four bank account columns. The amounts reported in the "PROJECTED" columns should be taken from the SMALL BUSINESS INITIALPORT (FORM IR-1) . Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journalst 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 SH BEGINNING OF MONTH 415,077.53 0.00 0.00 0.00 415,077.53 515,300.57 515,300.57 515,300.57 CEIPTSSBURSEMENTS
Table 2 on page 27. Back to List of Tables
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 15,411.51 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
200,000.00 0.00 0.00 0.00 200,000.00 0.00 4,268,000.00 5,420,471.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 650.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
200,000.00 0.00 0.00 0.00 200,000.00 0.00 4,284,061.51 5,420,471.00
T CASH FLOW (200,000.00) 0.00 0.00 0.00 (200,000.00) 0.00 (300,223.04) 0.00CEIPTS LESS DISBURSEMENTS) SH - END OF MONTH 215,077.53 0.00 0.00 0.00 215,077.53 515,300.57 215,077.53 515,300.57OMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE OK OK THE FOLLOWING SECTION MUST BE COMPLETED SBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN)TAL DISBURSEMENTS *** 200,000.00 LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS (200,000.00)PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts) 0.00 TAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES 0.00

27

re: White Mountain Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021BANK 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 page. Operating Payroll Tax Other # 2473 # # # LANCE PER BOOKS 215,077.53 0.00 0.00 0.00 NK BALANCE 215,077.53 0.00 0.00 0.00 DEPOSITS IN TRANSIT (ATTACH LIST) 0.00 0.00 0.00 0.00 OUTSTANDING CHECKS (ATTACH LIST) 0.00 0.00 0.00 0.00 HER (ATTACH EXPLANATION) 0.00 0.00 0.00 0.00 JUSTED BANK BALANCE * 215,077.53 0.00 0.00 0.00 djusted bank balance must equal alance per books 0.00 check (s/b 0) POSITS IN TRANSIT Date Amount Date Amount Date Amount Date AmountECKS OUTSTANDING Ck. # Amount Ch. # Amount Ck. # Amount Ck. # AmountHER

28

Debtor Reporting Period: May 2021SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID This schedule is to include all retained professional payments from case inception to current month. Amount Check Amount Paid Year-To-Date Payee Period Covered Approved Payor Number Date Fees Expenses Fees Expenses

29

In re: White Mountain Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021STATEMENT 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 $ $ Less: Returns and Allowances Net Revenue $ $ COST OF GOODS SOLD
Table 1 on page 30. Back to List of Tables
Beginning Inventory
Please see separate file:
Add: Purchases
Add: Cost of Labor
Profit and Loss Statement -White
Add: Other Costs (attach schedule)
Mountain Tissue -May 2021.pdf
Less: Ending Inventory
Cost of Goods Sold
Gross Profit
In re: White Mountain Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021STATEMENT 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 $ $ Less: Returns and Allowances Net Revenue $ $ COST OF GOODS SOLDOPERATING EXPENSES
Table 2 on page 30. Back to List of Tables
Advertising
Auto and Truck Expense
Bad Debts
Contributions
Employee Benefits Programs
Insider Compensation*
Insurance
Management Fees/Bonuses
Office Expense
Pension & Profit-Sharing Plans
Repairs and Maintenance
Rent and Lease Expense
Salaries/Commissions/Fees
Supplies
Taxes - Payroll
Taxes - Real Estate
Taxes - Other
Travel and Entertainment
Utilities
Other (attach schedule)
Total Operating Expenses Before Depreciation
Depreciation/Depletion/Amortization
Net Profit (Loss) Before Other Income & Expenses
In re: White Mountain Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021STATEMENT 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 $ $ Less: Returns and Allowances Net Revenue $ $ COST OF GOODS SOLDOPERATING EXPENSESOTHER INCOME AND EXPENSES Other Income (attach schedule) Interest Expense Other Expense (attach schedule) Net Profit (Loss) Before Reorganization Items REORGANIZATION ITEMS
Table 3 on page 30. Back to List of Tables
Professional Fees
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
Income Taxes
Net Profit (Loss) $ $
*"Insider" is defined in 11 U.S.C. Section 101(31).

30

Posting Date: From 05/01/21 To 05/31 Template: Chart of Acco Report Cycle: Annual Re Transaction Cross-Section by Posting Date Currenc Account Name Balance Year-to- Revenues Revenues - Revenues (901 Total Revenues (901 Cost of Sales Direct Material Direct Wages 35 Other Direct (2,692 Total Cost of Sales (2,335 Gross Profit (3,236 Expenses Fixed Wages (1,825.37) (10,913 Fixed Services (2,615.55) (190,271 Base Load (12,183 Fixed Mtc (139 Fixed Supplies Taxes - Property Taxes Insurance - Property Insurance Other Fxd Costs (375 Depr/Amort Non-Dir Trfr Cr - Non-Direct Transfer Credits Total Expenses (4,440.92) (213,881 Operating Profit (4,440.92) (217,118 Financing Total Financing Profit After Financing Expenses (4,440.92) (217,118 Other Revenues and Expenses Other Inc & Exp - Other Inc & Exp (36,830.95) 52,05Total Other Revenues and Expenses (36,830.95) 52,05 Profit Period (41,271.87) (165,062 =================== ================

31

In re: White Mountain Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021 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
Table 1 on page 32. Back to List of Tables
Unrestricted Cash and Equivalents 215,077.53 513,301.00
Restricted Cash and Cash Equivalents (see continuation sheet) 0.00
Accounts Receivable (Net) 134,996.38 128,559.00
Notes Receivable 0.00
Inventories 22,459.00
Prepaid Expenses 0.00
Professional Retainers 0.00
Other Current Assets (attach schedule) 0.00
TOTAL CURRENT ASSETS 350,073.91 664,319.00
In re: White Mountain Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021 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 PROPERTY AND EQUIPMENT
Table 2 on page 32. Back to List of Tables
Real Property and Improvements 7,911,278.00
Machinery and Equipment 33,337,405.00
Furniture, Fixtures and Office Equipment 0.00
Leasehold Improvements 0.00
Vehicles 0.00
Less Accumulated Depreciation (33,303,387.00)
TOTAL PROPERTY & EQUIPMENT 0.00 7,945,296.00
In re: White Mountain Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021 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 PROPERTY AND EQUIPMENTOTHER ASSETS
Table 3 on page 32. Back to List of Tables
Loans to Insiders* 0.00
Other Assets (attach schedule) 0.00
TOTAL OTHER ASSETS 0.00 0.00
TOTAL ASSETS 350,073.91 8,609,615.00
In re: White Mountain Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021 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 PROPERTY AND EQUIPMENTOTHER ASSETS BOOK VALUE AT END OF BOOK VALUE ON LIABILITIES AND OWNER EQUITY CURRENT REPORTING MON T H PETITION DATELIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition)
Table 4 on page 32. Back to List of Tables
Accounts Payable
Taxes Payable (refer to FORM MOR-4)
Wages Payable
Notes Payable
Rent / Leases - Building/Equipment
Secured Debt / Adequate Protection Payments 150,395.78
Professional Fees
Amounts Due to Insiders* (4,519,574.28)
Other Postpetition Liabilities (attach schedule) 1,985.80
TOTAL POSTPETITION LIABILITIES (4,367,192.70) 0.00
In re: White Mountain Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021 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 PROPERTY AND EQUIPMENTOTHER ASSETS BOOK VALUE AT END OF BOOK VALUE ON LIABILITIES AND OWNER EQUITY CURRENT REPORTING MON T H PETITION DATELIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition)LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)
Table 5 on page 32. Back to List of Tables
Secured Debt 22,647,516.88 25,989,604.00
Priority Debt 0.00 95,232.00
Unsecured Debt 19,125,994.54 19,304,278.00
TOTAL PRE-PETITION LIABILITIES 41,773,511.42 45,389,114.00
In re: White Mountain Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021 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 PROPERTY AND EQUIPMENTOTHER ASSETS BOOK VALUE AT END OF BOOK VALUE ON LIABILITIES AND OWNER EQUITY CURRENT REPORTING MON T H PETITION DATELIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition)LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)TOTAL LIABILITIES 37,406,318.72 45,389,114.00 OWNER EQUITY
Table 6 on page 32. Back to List of Tables
Capital Stock
Additional Paid-In Capital
Partners' Capital Account
Owner's Equity Account
Retained Earnings - Pre-Petition (36,779,499.00) (36,779,499.00)
Retained Earnings - Postpetition (276,745.81)
Adjustments to Owner Equity (attach schedule)
Postpetition Contributions (Distributions) (Draws) (attach schedule) None
NET OWNER EQUITY (37,056,244.81) None (36,779,499.00)
TOTAL LIABILITIES AND OWNERS' EQUITY 350,073.91 8,609,615.00 None None
*"Insider" is defined in 11 U.S.C. Section 101(31). (0.00) 0.00

32

In re: White Mountain Tissue, LLC Case No: 20-12814 (KBO) D e b t o r _ _ _D_e_b_t_o_r________________________________________ Reporting Period: May 2021BALANCE SHEET - continuation sheet BOOK VALUE AT END OF BOOK VALUE ON ASSETS CURRENT REPORTING MONTH PETITION DATE Other Current Assets
Table 1 on page 33. Back to List of Tables
In re: White Mountain Tissue, LLC Case No: 20-12814 (KBO) D e b t o r _ _ _D_e_b_t_o_r________________________________________ Reporting Period: May 2021BALANCE SHEET - continuation sheet BOOK VALUE AT END OF BOOK VALUE ON ASSETS CURRENT REPORTING MONTH PETITION DATE Other Current AssetsOther Assets
Table 2 on page 33. Back to List of Tables
In re: White Mountain Tissue, LLC Case No: 20-12814 (KBO) D e b t o r _ _ _D_e_b_t_o_r________________________________________ Reporting Period: May 2021BALANCE SHEET - continuation sheet BOOK VALUE AT END OF BOOK VALUE ON ASSETS CURRENT REPORTING MONTH PETITION DATE Other Current AssetsOther AssetsBOOK VALUE AT END OF BOOK VALUE ON LIABILITIES AND OWNER EQUITY CURRENT REPORTING MONTH PETITION DATEOther Postpetition Liabilities
Table 3 on page 33. Back to List of Tables
Sales Claim Accrual 25,987.80 24,002.00
In re: White Mountain Tissue, LLC Case No: 20-12814 (KBO) D e b t o r _ _ _D_e_b_t_o_r________________________________________ Reporting Period: May 2021BALANCE SHEET - continuation sheet BOOK VALUE AT END OF BOOK VALUE ON ASSETS CURRENT REPORTING MONTH PETITION DATE Other Current AssetsOther AssetsBOOK VALUE AT END OF BOOK VALUE ON LIABILITIES AND OWNER EQUITY CURRENT REPORTING MONTH PETITION DATEOther Postpetition LiabilitiesAdjustments to Owner Equity
Table 4 on page 33. Back to List of Tables
In re: White Mountain Tissue, LLC Case No: 20-12814 (KBO) D e b t o r _ _ _D_e_b_t_o_r________________________________________ Reporting Period: May 2021BALANCE SHEET - continuation sheet BOOK VALUE AT END OF BOOK VALUE ON ASSETS CURRENT REPORTING MONTH PETITION DATE Other Current AssetsOther AssetsBOOK VALUE AT END OF BOOK VALUE ON LIABILITIES AND OWNER EQUITY CURRENT REPORTING MONTH PETITION DATEOther Postpetition LiabilitiesAdjustments to Owner EquityPostpetition Contributions (Distributions) (Draws)
Table 5 on page 33. Back to List of Tables
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.

33

Posting Date: To: 05/3 Template: Chart of Acco Report Cycle: Annual Re Transaction Cross-Section by Posting Date: Currenc Account Name Balance System Cur Assets Current Assets - Current Assets Cash - Cash 1015-00-00 - Cash Bank of NH Checking 215,077.53 215,0 Total Cash - Cash 215,077.53 215,0 Receivables - Receivables 1101-00-00 - Accounts Receivable 134,996.38 134,9 Total Receivables - Receivables 134,996.38 134,9 Total Current Assets - Current Assets 350,073.91 350,0 Fixed Assets - Fixed Assets Total Fixed Assets - Fixed Assets Other Assets - Other Assets Total Other Assets - Other Assets Total Assets 350,073.91 350,0 $ 350,073.91 $ 350,07 ============= ========== Liabilities Liabilities - Liabilities Current Liab. - Current - Liabilities 2010-00-00 - Accounts Payable 1,618,944.84 1,618,9 2051-00-00 - Interco Payable - GPT 10,624,929.31 10,624,9 2100-00-00 - Accrued Expenses 421,582.75 421,5 2110-00-00 - Accrued Interest 146,247.12 146,2 2180-00-00 - Sales Claims Reserve 25,987.70 25,9 Total Current Liab. - Current - Liabilities 12,837,691.72 12,837,6Long Term Liab. - Long Term - Liabilities

34

Currenc Account Name Balance System Cur 2601-00-00 - Term Loan 1 - Patriarch 11,000,000.00 11,000,02602-00-00 - Term Loan 2 - Patriarch 10,568,627.00 10,568,62603-00-00 - Term Loan 3 - GPT 3,000,000.00 3,000,0 Total Long Term Liab. - Long Term - Liabilities 24,568,627.00 24,568,62999 Total Liabilities - Liabilities 37,406,318.72 37,406,3 Total Liabilities 37,406,318.72 37,406,3 Equity Equity - Equity Capital - Capital 3900-00-00 - Retained Earnings (2,722,055.13) (2,722,05 Total Capital - Capital (2,722,055.13) (2,722,05 Total Equity - Equity (2,722,055.13) (2,722,05 Profit Period (34,334,189.68) (34,334,18 Total Equity (37,056,244.81) (37,056,24 $ 350,073.91 $ 350,07 ============= ==========

35

In re: White Mountain Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021STATUS 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
Table 1 on page 36. Back to List of Tables
Withholding 0.00 0.00 0.00 0.00
FICA-Employee 0.00 0.00 0.00 0.00
FICA-Employer 0.00 0.00 0.00 0.00
Unemployment 0.00 0.00 0.00 0.00
Income 0.00 0.00 0.00 0.00
Other:_________________ 0.00 0.00 0.00 0.00
Total Federal Taxes 0.00 0.00 0.00 0.00
In re: White Mountain Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021STATUS 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 FederalState and Local
Table 2 on page 36. Back to List of Tables
Withholding 0.00 0.00 0.00 0.00
Sales 0.00 0.00 0.00 0.00
Excise 0.00 0.00 0.00 0.00
Unemployment 0.00 0.00 0.00 0.00
Real Property 0.00 0.00 0.00 0.00
Personal Property 0.00 0.00 0.00 0.00
Other:_________________ 0.00 0.00 0.00 0.00
Total State and Local 0.00 0.00 0.00 0.00
Total Taxes 0.00 0.00 0.00 0.00
In re: White Mountain Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021STATUS 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 FederalState and LocalSUMMARY 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
Table 3 on page 36. Back to List of Tables
Accounts Payable 0.00 0.00 0.00 0.00 0.00 0.00
Wages Payable 0.00 0.00 0.00 0.00 0.00 0.00
Taxes Payable 0.00 0.00 0.00 0.00 0.00 0.00
Rent/Leases-Building 0.00 0.00 0.00 0.00 0.00 0.00
Rent/Leases-Equipment 0.00 0.00 0.00 0.00 0.00 0.00
Secured Debt/Adequate Protection Payments 0.00 10,997.62 44,934.64 11,424.80 83,038.72 150,395.78
Professional Fees 0.00 0.00 0.00 0.00 0.00 0.00
Amounts Due to Insiders* 0.00 0.00 0.00 0.00 0.00 0.00
Other:__________________________ 0.00 0.00 0.00 0.00 0.00 0.00
Other:__________________________ 0.00 0.00 0.00 0.00 0.00 0.00
Total Postpetition Debts 0.00 10,997.62 44,934.64 11,424.80 83,038.72 150,395.78
Explain how and when the Debtor intends to pay any past-due postpetition debts. The Debtor will continue to fund post-petition payables in the ordinary course through its operating account and the proceeds of settlements, subject to all applicable rules and Court Orders. *"Insider" is defined in 11 U.S.C. Section 101(31).

36

In re: White Mountain Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021ACCOUNTS RECEIVABLE RECONCILIATION AND AGING Accounts Receivable Reconciliation Amount
Table 1 on page 37. Back to List of Tables
Total Accounts Receivable at the beginning of the reporting period 134,996.38
+ Amounts billed during the period 0.00
- Amounts collected during the period 0.00
Total Accounts Receivable at the end of the reporting period 134,996.38
In re: White Mountain Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021ACCOUNTS RECEIVABLE RECONCILIATION AND AGING Accounts Receivable Reconciliation AmountAccounts Receivable Aging Amount
Table 2 on page 37. Back to List of Tables
0 - 30 days old 0.00
31 - 60 days old 0.00
61 - 90 days old 0.00
91+ days old 134,996.38
Total Accounts Receivable 134,996.38
Amount considered uncollectible (Bad Debt) 0.00
Accounts Receivable (Net) 134,996.38
In re: White Mountain Tissue, LLC Case No: 20-12814 (KBO) Debtor Reporting Period: May 2021ACCOUNTS RECEIVABLE RECONCILIATION AND AGING Accounts Receivable Reconciliation AmountAccounts Receivable Aging AmountDEBTOR QUESTIONNAIRE Must be completed each month Yes No
Table 3 on page 37. Back to List of Tables
1. Have any assets been sold or transferred outside the normal course of business
this reporting period? If yes, provide an explanation below.
XXX
2. Have any funds been disbursed from any account other than a debtor in possession
account this reporting period? If yes, provide an explanation below.
XXX
3. Have all postpetition tax returns been timely filed? If no, provide an explanation
below.
XXX
4. Are workers compensation, general liability and other necessary insurance
coverages in effect? If no, provide an explanation below.
XXX
5. Has any bank account been opened during the reporting period? If yes, provide
documentation identifying the opened account(s). If an investment account has been opened
provide the required documentation pursuant to the Delaware Local Rule 4001-3.
XXX
4) Policies transferred to buyer at asset sale on 12/31/20

37

Age by: Due Date Aging Date: 05/31/21 Posting Date: From To 05/31/21 BP: From To Customer Group: All Curren BP Name Total Future Remit 0 - 30 31 - 60 61 - 90 91 - 120 Central National 119,138.18 119,1 -Gottesman Paradigm 10,786.01 10,7 Marketing Enterprises Sears Holding 5,072.19 5,0 Corp Total: $ 134,996.38 $ 134,99 Aging (%): % 100.00 % 10

38

Age by: Due Date Aging Date: 05/31/21 Posting Date: From To 05/31/21 BP: From To Customer Group: All Curren BP Name Total Future Remit 0 - 30 31 - 60 61 - 90 91 - 120 ACI Converting (2,425.00) (2,42 Inc American Forest (7,684.00) (7,68 & Paper Association Alta Holliday (460.00) (46 Ankura Trust (96,250.00) (96,25 Company, LLC Ankura Trust (527,780.19) (527,78 Company, LLC Ankura Trust (35,496.36) (35,49 Company, LLC - GPT DIP ARI Logistics (13,994.00) (13,99 Beemac Trucking (13,130.00) (13,13 LLC Blind Industries & (102,626.76) (102,62 Services of Maryland Border Freight (14,250.00) (14,25 Transportation Convermat 3,712.65 3,7 Corporation CT Lien Solutions (1,352.52) (1,35 Drummond (3,045.00) (3,04 Woodsum & MacMahon FIS IMPLANTI (49,598.56) (49,59 S.R.L. Garlock Printing & (6,672.94) (6,67 Converting Co. Global Tissue 1,319.49 1,3 Group, Inc Great Lakes (7,135.00) (7,13 Transport Solutions J.B. Hunt (2,128.00) (2,12 Transport, Inc. JOSH PACKAGING (3,964.96) (3,96 INC Logistic Dynamics, (5,300.00) (5,30 Inc.

39

Curren BP Name Total Future Remit 0 - 30 31 - 60 61 - 90 91 - 120 Milbank, LLP (7,884.92) (7,88 National Golden (1,369.44) (1,36 Tissue, Inc. OpenText GXS, (759.00) (75 Inc Patriarch Partners (423,511.99) (423,51 Agency Services, LLC Patriarch Partners (20,966.57) (20,96 LLC PrintPro Inc (1,300.00) (1,30 Select Product (203,421.01) (203,42 Holdings SPS Commerce (754.40) (75 UL Verificaton (3,500.00) (3,50 Services, Inc. Wensley & Jones, (8,466.36) (8,46 PLLC Western Express (53,750.00) (53,75 Inc 1 WorldSync, Inc. (5,000.00) (5,00 Total: $ -1,618,944.84 -1,618,94 Aging (%): % 100.00 % 10

40

ccount Number 2473 outing Number 211770271 ate Description Receipts Disbursements Balance to GL 4/22/2021 WMT InterCo Payment transfer $ 81,000.00 $ 415,077.535/4/2021 WMT InterCo Payment transfer $ 200,000.00 $ 215,077.53

41

Primary Account: 2473 Period: 04/30/21 to 05/28/21 AAFFDATAADFFFAAFTAFFFADAADFDAAAATADDFDDATAFFTDDFFDDTDADAAAATADTFF'SRLNUM' 0.4500 WCL0001 30-0 WHITE MOUNTAIN TISSUE LLC 0 72 CASCADE FLT 0 GORHAM, NH 03581-1015 BUSINESS ACCOUNT Account: 2473 Last Statement Previous Balance Total Credits Total Debits This Statement Current Balance04/30/21 $415,077.53 $0.00 $200,000.00 (1) 05/28/21 $215,077.53 Minimum Balance $215,077.53 Average Balance $236,506.10 TRANSACTIONS Date Description Credits Debits Balance 04/30 BEGINNING BALANCE ........................................... $415,077.53 05/04 780146 Online Xfer To Business XXXX234 On 5/04/21 At 16:01 $200,000.00 $215,077.53 05/28 ENDING BALANCE ........................................... $215,077.53 ITEMIZATION OF OVERDRAFT AND RETURNED ITEM FEES Total For Total This Period Year to Date Total Overdraft Fees $0.00 $0.00 Total Returned Item Fees $0.00 $0.00

42