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Full title: Monthly Operating Report for Filing Period Ending April 30, 2021 Filed by WILLIAM M. NOALL on behalf of GUMP'S CORP. (NOALL, WILLIAM) (Entered: 05/19/2021)

Document posted on May 18, 2021 in the bankruptcy, 9 pages and 0 tables.

Bankrupt11 Summary (Automatically Generated)

Real Property $1,079,296 $0 $0 $0 17 Insurance $24,514 $0 18 Management Fees $0 ** $0 $0 19 Depreciation $140,582 Taxes: $0 20 Employer Payroll Taxes $0 $0 21 Real Property Taxes $110,046 $0 22 Other Taxes $0 23 Gain or (Loss) from Sale of Equipment $0 $0 41 U.S. Trustee Quarterly Fees ($108,585) $0 $0 $0 42 Gift Card & Bridal Remdemptions ($1,049,086) $0 $0 $0 43 Total Reorganization Items ($1,890,859) $ ($283) ($40,000) $39,717 44 Net Profit (Loss) Before Federal & State Taxes ($7,251,017) $$0 45 Federal & State Income Taxes BALANCE SHEET Employer Payroll Taxes 30 Real Property Taxes $0 $110,046 31 Other Taxes 32 Other Cash Outflows: 33 Paymt to Creditors Committee & Noticing Agt & Debtor counsel & US Trustee $967,72034 Payment to Sterling from Gordon Brother/Hilco Guaranty3 $0 $4,031,80035 AR collections Payable to Sterling (swept by Agent) $0 $82,68236 AR collections paid to Sterling $0 $184,515 37 Accrued PTO $0 $223,187 38 Total Cash Disbursements: $283 $9,515,609 39Net Increase (Decrease) in Cash $274,717 $1,141,447 On or about August 13, 2018, the Agent paid the Guaranteed Amount ($5,606,500) under the Agency Agreement (see Case No. 18-14683-LEB, ECF Nos.Sterling is holding the funds until expiration of the Objection Deadline set forth in the Interim DIP Order (see Case No. 18-14683-LEB, ECF No. 60).

List of Tables

Document Contents

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(General Business Case) For the Month Ended 04/30/21 Current Month Cumulative Next Month Actual Forecast Variance (Case to Date) Forecast Revenues: $0 1 Gross Sales $0 2 less: Sales Returns & Allowances $0 $0 $0 3 Net Sales $0 $ $0 $0 4 less: Cost of Goods Sold (Schedule 'B')$0 $0 $0 5 Gross Profit $0 $ $0 6 Interest $0 7 Other Income: $0 8 $0 9 $0 $0 $0 10 Total Revenues $0 $ Expenses: $0 $30,000 $30,000 11 Compensation to Owner(s)/Officer(s) $563,780$0 $0 $0 12 Salaries $2,032,307 $0 $0 $0 13 Commissions $433,926 $0 14 Contract Labor Rent/Lease: $0 15 Personal Property $0 $0 $0 16 Real Property $1,079,296 $0 $0 $0 17 Insurance $24,514 $0 18 Management Fees $0 ** $0 $0 19 Depreciation $140,582 Taxes: $0 20 Employer Payroll Taxes $0 $0 21 Real Property Taxes $110,046 $0 22 Other Taxes $0 23 Other Selling $283 $10,000 $9,717 24 Other Administrative $786,782 $0 25 Interest $0 26 Other Expenses: $0 * $0 27Packaging $188,925 $0 28 $0 29 $0 30 $0 31 $0 32 $0 33 $0 34 $283 $40,000 $39,717 35 Total Expenses $5,360,158 $ ($283) ($40,000) $39,717 36Subtotal ($5,360,158) $ Reorganization Items: $0 37 Professional Fees ($733,188) $0 38 Provisions for Rejected Executory Contracts $0 39 Interest Earned on Accumulated Cash from Resulting Chp 11 Case $0 40 Gain or (Loss) from Sale of Equipment $0 $0 41 U.S. Trustee Quarterly Fees ($108,585) $0 $0 $0 42 Gift Card & Bridal Remdemptions ($1,049,086) $0 $0 $0 43 Total Reorganization Items ($1,890,859) $ ($283) ($40,000) $39,717 44 Net Profit (Loss) Before Federal & State Taxes ($7,251,017) $$0 45 Federal & State Income Taxes

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BALANCE SHEET (General Business Case) For the Month Ended 04/30/21 Assets From Schedules Market Value Current Assets 1 Cash and cash equivalents - unrestricted $348,89 2 Cash and cash equivalents - restricted 3 Accounts receivable (net) $7,98 4 Inventory $ 5 Prepaid expenses $ 6 Professional retainers 7 Other: Packaging $ 8 9 Total Current Assets $356,87 Property and Equipment (Market Value) 10 Real property $ 11 Machinery and equipment $ 12 Furniture and fixtures $ 13 Office equipment $ 14 Leasehold improvements $ 15 Vehicles $ 16 Other: 17 Goodwill and Intangible Assets $ 18 19 20 21 Total Property and Equipment $ Other Assets 22 Loans to shareholders 23 Loans to affiliates 24 25 26 27 28 Total Other Assets $ 29 Total Assets $356,87 NOTE: Indicate the method used to estimate the market value of assets (e.g., appraisals; familiarity with comparable marketprices, etc.) and the date the value was determined.

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Liabilities and Equity (General Business Case) Liabilities From Schedules Post-Petition Current Liabilities 30 Salaries and wages $ 31 Payroll taxes $ 32 Real and personal property taxes $ 33 Income taxes 34 Sales taxes $ 35 Notes payable (short term) 36 Accounts payable (trade) $176,28 37 Real property lease arrearage 38 Personal property lease arrearage 39 Accrued professional fees 40 Current portion of long-term post-petition debt (due within 12 months)41 Other: 42 Gift Certificates/Merchandise Credits/Bridal (see Agent) $898,8343 Deferred Rent $ 44 Total Current Liabilities $1,075,12 45 Long-Term Post-Petition Debt, Net of Current Portion 46 Total Post-Petition Liabilities $1,075,12 Pre-Petition Liabilities (allowed amount) 47 Secured claims D $17,792,71 48 Priority unsecured claims E $172,43 49 General unsecured claims F $6,561,44 50 Total Pre-Petition Liabilities $24,526,59 51 Total Liabilities $25,601,71 Equity (Deficit) 52 Retained Earnings/(Deficit) at time of filing ($72,430,3853 Capital Stock $2 54 Additional paid-in capital $53,355,52 55 Cumulative profit/(loss) since filing of case 56 Post-petition contributions/(distributions) or (draws) 57 Bankruptcy Related ($6,169,99 58 Market value adjustment 59 Total Equity (Deficit) ($25,244,84

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SCHEDULES TO THE BALANCE SHEET (General Business Case) Schedule A Accounts Receivable and (Net) Payable Accounts Receivable Accounts Payable Past Due ivables and Payables Agings [Pre and Post Petition] [Post Petition] Post Petition D -30 Days $7,982 $176,282 1-60 Days 1-90 Days 1+ Days otal accounts receivable/payable $7,982 $176,282 llowance for doubtful accounts ccounts receivable (net) $7,982 Schedule B Inventory/Cost of Goods Sold s and Amount of Inventory(ies) Cost of Goods Sold Inventory(ies) Balance at End of Month Inventory Beginning of Month Add - etail/Restaurants - Net purchase Product for resale Direct labor Manufacturing overhead istribution - Freight in Products for resale Other: anufacturer - Raw Materials Work-in-progress Less - Finished goods Inventory End of Month Shrinkage ther - Explain Personal Use Cost of Goods Sold TOTAL $0 ethod of Inventory Control Inventory Valuation Methods o you have a functioning perpetual inventory system? Indicate by a checkmark method of inventory used. Yes No ow often do you take a complete physical inventory? Valuation methods - FIFO cost Weekly LIFO cost Monthly Lower of cost or market Quarterly Retail method Semi-annually Other Annually Explain of last physical inventory was of next physical inventory is

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Schedule C Real Property ription Cost Market Value Total $0 Schedule D Other Depreciable Assets ription Cost Market Value inery & Equipment - computers/hardward/software $0 Total $0 ture & Fixtures - Gallery Lighting/laterns/Push-in LEDs/Cameras/Chairs $0 Total $0 e Equipment - $0 Total $0 hold Improvements - Total $0 cles - Total $0

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Schedule E Aging of Post-Petition Taxes (As of End of the Current Reporting Period) Taxes Payable 0-30 Days 31-60 Days 61-90 Days 91+ Days TotalFederal Income Tax Withholding $0 FICA - Employee $0 FICA - Employer $0 Unemployment (FUTA) $0 Income $0 Other (Attach List) $0 Total Federal Taxes $0 $0 $0 $0 $0 State and Local Income Tax Withholding $0 Unemployment (UT) $0 Disability Insurance (DI) $0 Empl. Training Tax (ETT) $0 Sales $0 Excise $0 Real property $0 Personal property $0 Income $0 Other (Attach List) $0 Total State & Local Taxes $0 $0 $0 $0 $0 Total Taxes $0 $0 $0 $0 $0 Schedule F Pre-Petition Liabilities Claimed Allowed List Total Claims For Each Classification - Amount Amount (b)Secured claims (a) $17,792,710 $17,792,710 Priority claims other than taxes $446,600 $172,439 Priority tax claims General unsecured claims $6,561,449 $6,561,449 (a) List total amount of claims even it under secured. (b) Estimated amount of claim to be allowed after compromise or litigation. As an example, you are a defendant in a lawsuit alleging damage of $10,000,000 and a proof of claim is filed in that amount. You believe that you can settle the case for a claim of $3,000,000. For Schedule F reporting purposes you should list $10,000,000 as the Claimed Amount and $3,000,000 as the Allowed Amount. Schedule G Rental Income Information Not applicable to General Business Cases Schedule H Recapitulation of Funds Held at End of Month Account 1 Account 2 Account 3 Account 4 Bank Union Bank Union Bank Union Bank Account Type Collection Operating Sales Tax Account No. x0602 x0628 x4149 Account Purpose Deposit Disbursement Sales Tax Balance, End of Month $0 $39,690 $0 Total Funds on Hand for all Accounts $39,690

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STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS Increase/(Decrease) in Cash and Cash Equivalents For the Month Ended 04/30/21 Actual Cumulative Current Month (Case to Date) Cash Receipts 1 Rent/Leases Collected 2 Cash Received from Sales $0 $5,231,800 3 IP sale proceeds (net of $2,500 fees) $0 $648,500 4 Borrowings 5 American Expresss Settlement $275,000 $275,000 6 Credit Card Reserve (Amex & BofA) $0 $359,387 7 Sterling DIP Funding $0 $337,000 8 Gordon Brothers/Hilco Guaranty $0 $373,700 9 Gordon Brothers/Hilco - Reimbursed Expenses $0 $2,982,607 10 Corporate Partners Contribution for Accrued PTO $0 $388,52311 AR Collections/Federal Tax Refund and Misc and Insurance $0 $60,53912 Total Cash Receipts $275,000 $10,657,056 Cash Disbursements 13 Payments for Inventory 14 Selling 15 Administrative $283 $708,611 16 Capital Expenditures 17 Principal Payments on Debt 18 Interest Paid Rent/Lease: 19 Personal Property 20 Real Property $0 $840,198 Amount Paid to Owner(s)/Officer(s) 21 Salaries $532,942 22 Draws 23 Commissions/Royalties 24 Expense Reimbursements 25 Other 26 Salaries/Commissions (less employee withholding) $0 $1,833,90827 Management Fees Taxes: 28 Employee Withholding 29 Employer Payroll Taxes 30 Real Property Taxes $0 $110,046 31 Other Taxes 32 Other Cash Outflows: 33 Paymt to Creditors Committee & Noticing Agt & Debtor counsel & US Trustee $967,72034 Payment to Sterling from Gordon Brother/Hilco Guaranty3 $0 $4,031,80035 AR collections Payable to Sterling (swept by Agent) $0 $82,68236 AR collections paid to Sterling $0 $184,515 37 Accrued PTO $0 $223,187 38 Total Cash Disbursements: $283 $9,515,609 39Net Increase (Decrease) in Cash $274,717 $1,141,447 40Cash Balance, Beginning of Period $74,178 41Cash Balance, End of Period $348,895 $1,141,447 3 On or about August 13, 2018, the Agent paid the Guaranteed Amount ($5,606,500) under the Agency Agreement (see Case No. 18-14683-LEB, ECF Nos. 35, 58). The Agent transferred $5,606,500 to Sterling Business Credit, LLC (“Sterling”), and 373,700 to the Debtors. Sterling is holding the funds until expiration of the Objection Deadline set forth in the Interim DIP Order (see Case No. 18-14683-LEB, ECF No. 60). The funds have been applied to the Sterling loan balance, and the Guaranteed Amount is subject to a potential clawback. Debtors do not believe the clawback will exceed $1.2 million, and therefore have estimated the

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04/01/21 - 04/30/21 UNION BANK SAN FRANCISCO MID MKT TREAS SVCS 0312 Customer Inquiries POST OFFICE BOX 513840 800-898-6466 LOS ANGELES CA 90051-3840 Thank you for banking with us since 2016 GUMP'S CORP. OPERATING ACCOUNT CHAPTER 11 DEBTOR IN POSSESSION CASE # 18-14684 135 POST STREET SAN FRANCISCO CA 94108 alyzed Business Checking Summary Account Number: 06 ys in statement period: Days in statement period: 30 Balance on 4/ 1 $ 74,177.90 Total Credits 275,000.00 Electronic credits (1) 275,000.00 Total Debits -282.79 Other debits (1) -282.79 Balance on 4/30 $ 348,895.11 R E D I T S ctronic credits Date Description/Location Reference Amo 4/9 WIRE TRANS TRN 0409001051 040921 202104070033409 93050962 $ 275,000. Received From: BANK OF AMERICA N.A. Originator: FEDEX CORPORATE SERVICES INC E B I T S her debits, fees and adjustments Date Description Reference Amou 4/26 ANALYSIS DEFICIT MAR 2 021 90261737 $ 282. ily Ledger Balance Date Ledger Balance Date Ledger Bal 4/1-4/8 $ 74,177.90 4/26-4/30 $ 348,89 4/9-4/25 349,177.90

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