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Full title: Supplement to February Monthly Operating Report filed by Trustee James A Bartholomew re: 363 Chapter 11 monthly operating report FRBP 2015.. (Kristin MNBS) (Entered: 04/20/2021)

Document posted on Apr 19, 2021 in the bankruptcy, 11 pages and 0 tables.

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Case No. 19-33629 (WJF) Minnesota School of Business, Inc., Globe University, Inc., CaseConsolidated Balance Sheet for Minnesota School of Business, Inc. and subsidiaries as of February 28, 2021.Consolidated Income Statement of Minnesota School of Business, Inc. and its subsidiaries for the month of February 2021.USE TAX 203 0 203 80 0 80 142 0 142 76 0 76 NCY EXPENSE 35,387 0 35,387 65,680 0 65,680 18,577 0 18,577 34,122 0 34,122 OPERATING EXPENSES 41,974 0 41,974 79,058 0 79,058 27,385 0 27,385 43,845 0 43,845 INCOME/EXPENSES T INCOME 0 0 0 0 0 0 71 0 71 0 0 0 OLL RELATED EXPENSES ETING EXPENSES, excluding salaries PANCY EXPENSES HEAD

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UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MINNESOTA In re: Jointly Administered Under Case No. 19-33629 (WJF) Minnesota School of Business, Inc., Globe University, Inc., Case No. 19-33629 Case No. 19-33632 Chapter 11 Cases Debtors. SUPPLEMENT TO FEBRUARY MONTHLY OPERATING REPORT Attached are the following documents to supplement the February Monthly Operating Report [ECF No. 297]: 1. Consolidated Balance Sheet for Minnesota School of Business, Inc. and subsidiaries as of February 28, 2021. 2. Balance Sheet for Globe University, Inc. as of February 28, 2021. 3. Consolidated Income Statement of Minnesota School of Business, Inc. and its subsidiaries for the month of February 2021. 4. Consolidated Income Statement for Globe University Inc. for the month of February 2021. The attached reports have been prepared on an accrual basis. For the sake of clarity, the income statements include noncash items, including depreciation. April 20, 2021 / s / E dwin H . Caldie Edwin H. Caldie (#0388930) Phillip J. Ashfield (#0388990) Brittany M. Michael (#0397592) STINSON LLP 50 South Sixth Street Suite 2600 Minneapolis, MN 55402 Telephone: 612.335.1500 Facsimile: 612.335.1657 COUNSEL TO THE CHAPTER 11 TRUSTEE

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2/28/2021 12/31/2020 ASSETS Current Assets Cash and equivalents 2,639,276 2,547,078 Restricted cash 460,324 460,180 Tenant receivables, net (11,499) 67,673 Prepaid expenses 316,593 8,602 Due from affiliates 10,560,847 10,560,522 Notes receivable from shareholders (2,386,577) (2,386,577) Total current assets 11,578,963 11,257,478 Property and Equipment Equipment 1,254,998 1,254,998 Furniture and fixtures 281,163 281,163 Buildings and improvements 35,962,228 35,955,907 37,498,389 37,492,068 Accumulated depreciation and amortization (13,175,221) (12,623,300)24,323,168 24,868,768 Land 8,554,466 8,554,466 Propery and equipment, net 32,877,634 33,423,234 Other Assets Lease related receivables and initial direct cost 1,763,809 1,807,961Loan origination fees, net 3,525 3,525 Total other assets 1,767,334 1,811,486 TOTAL ASSETS 46,223,931 46,492,198

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EQUITY Current Liabilities Current portion of long-term debt 374,200 374,200 Accounts payable 204,397 143,133 Accrued liabilities 856,805 629,706 Total current liabilitites 1,440,427 1,152,063 Long-term Debt Notes payable to banks 7,803,235 7,861,776 Total liabilities 9,243,662 9,013,839 SHAREHOLDERS' EQUITY Common stock 30,360 30,360 Additional paid-in capital 3,622,773 3,622,773 Retained earnings 33,825,226 34,329,811 Current year income (498,090) (504,585) Total shareholders' equity 36,980,269 37,478,359 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 46,223,931 46,492,198

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2/28/2021 12/31/2020 ASSETS Current Assets Property and Equipment Other Assets 0 0

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SHAREHOLDERS' EQUITY Current Liabilities Accounts payable 943,800 943,800 Accrued liabilities 127,168 127,168 Due to affiliates 12,310,765 12,310,440 Total current liabilitites 13,381,733 13,381,408 Long-term Debt Total liabilities 13,381,733 13,381,408 SHAREHOLDERS' EQUITY Common stock 30,360 30,360 Additional paid-in capital 2,100,840 2,100,840 Retained earnings (15,512,608) (14,977,051) Current year income (325) (535,557) Total shareholders' equity (13,381,733) (13,381,408) 0 0

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Brooklyn Center Shakopee Rochester Blaine Actual Budget Variance Actual Budget Variance Actual Budget Variance Actual Budget VarianceE IES INCOME $70,786 $0 $70,786 $89,785 $0 $89,785 $26,389 $0 $26,389 $13,000 $0 $13,000 REVENUE 70,786 0 70,786 89,785 0 89,785 26,389 0 26,389 13,000 0 13,000 ING EXPENSES L EXPENSES 0 0 0 0 0 0 0 0 0 0 0 0 INSURANCE 0 0 0 0 0 0 0 0 0 0 0 0 ARE 0 0 0 0 0 0 0 0 0 0 0 0 ACCOUNTING 0 0 0 0 0 0 0 0 0 303 0 303 NCE 0 0 0 0 0 0 0 0 0 0 0 0 ERVICE CHARGES 15 0 15 15 0 15 15 0 15 15 0 15 EXPENSE 110 0 110 192 0 192 0 0 0 0 0 0 E 0 0 0 0 0 0 0 0 0 0 0 0 ONE 1,134 0 1,134 117 0 117 61 0 61 208 0 208 L PROCESSING 0 0 0 0 0 0 0 0 0 0 0 0 IATION EXPENSE 5,126 0 5,126 12,975 0 12,975 8,591 0 8,591 9,121 0 9,121 USE TAX 203 0 203 80 0 80 142 0 142 76 0 76 NCY EXPENSE 35,387 0 35,387 65,680 0 65,680 18,577 0 18,577 34,122 0 34,122 OPERATING EXPENSES 41,974 0 41,974 79,058 0 79,058 27,385 0 27,385 43,845 0 43,845 INCOME/EXPENSES T INCOME 0 0 0 0 0 0 71 0 71 0 0 0 T EXPENSE (9,378) 0 (9,378) (721) 0 (721) (13,601) 0 (13,601) (505) 0 (505)OTHER INCOME/EXPENSES (9,378) 0 (9,378) (721) 0 (721) (13,531) 0 (13,531) (505) 0 (505)OME (LOSS) 19,434 0 19,434 10,006 0 10,006 (14,527) 0 (14,527) (31,350) 0 (31,350)

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L RELATED EXPENSES ATE SALARIES 0 0 0 0 0 0 0 0 0 0 0 0 PLOYER MATCH 0 0 0 0 0 0 0 0 0 0 0 0 L TAX EXPENSE 0 0 0 0 0 0 0 0 0 0 0 0 PAYROLL EXPENSES 0 0 0 0 0 0 0 0 0 0 0 0 TING EXPENSES, excluding salaries ANCY EXPENSES ES 4,110 0 4,110 2,724 0 2,724 506 0 506 1,147 0 1,147 TATE TAXES 8,415 0 8,415 13,923 0 13,923 11,658 0 11,658 14,997 0 14,997 & SEWER 0 0 0 802 0 802 0 0 0 340 0 340 S 6,460 0 6,460 10,492 0 10,492 0 0 0 2,037 0 2,037 4,086 0 4,086 9,058 0 9,058 0 0 0 3,849 0 3,849 G R&M 5,110 0 5,110 1,244 0 1,244 119 0 119 0 0 0 G & SUPPLIES 0 0 0 4,285 0 4,285 0 0 0 214 0 214 OTECTION 0 0 0 0 0 0 0 0 0 450 0 450 EPAIRS 0 0 0 6,130 0 6,130 1,067 0 1,067 1,069 0 1,069 G LOT R&M 0 0 0 380 0 380 0 0 0 0 0 0 549 0 549 2,020 0 2,020 18 0 18 285 0 285 Y 0 0 0 2,003 0 2,003 0 0 0 0 0 0 LOWING 2,200 0 2,200 8,820 0 8,820 2,121 0 2,121 7,001 0 7,001 TY INSURANCE 4,457 0 4,457 3,799 0 3,799 3,088 0 3,088 2,732 0 2,732 OCCUPANCY EXPENSES 35,387 0 35,387 65,680 0 65,680 18,577 0 18,577 34,122 0 34,122 AD PERATING EXPENSES 41,974 0 41,974 79,058 0 79,058 27,385 0 27,385 43,845 0 43,845 roll expenses 0 0 0 0 0 0 0 0 0 0 0 0 upancy expenses (35,387) 0 (35,387) (65,680) 0 (65,680) (18,577) 0 (18,577) (34,122) 0 (34,122)verhead 6,587 0 6,587 13,379 0 13,379 8,808 0 8,808 9,723 0 9,723

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Lakeville Woodbury Corporate MSB Total Actual Budget Variance Actual Budget Variance Actual Budget Variance Actual Budget VarianceE IES INCOME $51,442 $0 $51,442 $113,164 $0 $113,164 $0 $0 $0 $364,565 $0 $364,565 REVENUE 51,442 0 51,442 113,164 0 113,164 0 0 0 364,565 0 364,565 ING EXPENSES L EXPENSES 0 0 0 0 0 0 27,329 0 27,329 27,329 0 27,329 INSURANCE 0 0 0 0 0 0 2,436 0 2,436 2,436 0 2,436 ARE 0 0 0 2,641 0 2,641 0 0 0 2,641 0 2,641 ACCOUNTING 0 0 0 0 0 0 0 0 0 303 0 303 NCE 0 0 0 0 0 0 3,628 0 3,628 3,628 0 3,628 ERVICE CHARGES 15 0 15 30 0 30 120 0 120 225 0 225 EXPENSE 157 0 157 79 0 79 0 0 0 537 0 537 E 0 0 0 0 0 0 35 0 35 35 0 35 ONE 463 0 463 2,444 0 2,444 0 0 0 4,426 0 4,426 L PROCESSING 0 0 0 0 0 0 420 0 420 420 0 420 IATION EXPENSE 6,252 0 6,252 36,872 0 36,872 0 0 0 78,937 0 78,937 USE TAX 55 0 55 165 0 165 0 0 0 721 0 721 NCY EXPENSE 29,253 0 29,253 91,293 0 91,293 0 0 0 274,311 0 274,311 OPERATING EXPENSES 36,195 0 36,195 133,523 0 133,523 33,968 0 33,968 395,948 0 395,948 INCOME/EXPENSES T INCOME 0 0 0 0 0 0 0 0 0 71 0 71 T EXPENSE (10,381) 0 (10,381) (6,130) 0 (6,130) 0 0 0 (40,716) 0 (40,716)OTHER INCOME/EXPENSES (10,381) 0 (10,381) (6,130) 0 (6,130) 0 0 0 (40,646) 0 (40,646)OME (LOSS) 4,866 0 4,866 (26,490) 0 (26,490) (33,968) 0 (33,968) (72,029) 0 (72,029)

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L RELATED EXPENSES ATE SALARIES 0 0 0 0 0 0 23,861 0 23,861 23,861 0 23,861 PLOYER MATCH 0 0 0 0 0 0 147 0 147 147 0 147 L TAX EXPENSE 0 0 0 0 0 0 3,321 0 3,321 3,321 0 3,321 PAYROLL EXPENSES 0 0 0 0 0 0 27,329 0 27,329 27,329 0 27,329 TING EXPENSES, excluding salaries ANCY EXPENSES ES 1,825 0 1,825 13,197 0 13,197 0 0 0 23,509 0 23,509 TATE TAXES 9,650 0 9,650 32,728 0 32,728 0 0 0 91,372 0 91,372 & SEWER 0 0 0 551 0 551 0 0 0 1,693 0 1,693 S 7,544 0 7,544 10,465 0 10,465 0 0 0 36,997 0 36,997 0 0 0 0 0 0 0 0 0 16,993 0 16,993 G R&M 2,160 0 2,160 291 0 291 0 0 0 8,924 0 8,924 G & SUPPLIES 2,866 0 2,866 1,225 0 1,225 0 0 0 8,590 0 8,590 OTECTION 0 0 0 0 0 0 0 0 0 450 0 450 EPAIRS 775 0 775 5,012 0 5,012 0 0 0 14,053 0 14,053 G LOT R&M 0 0 0 0 0 0 0 0 0 380 0 380 385 0 385 922 0 922 0 0 0 4,180 0 4,180 Y 0 0 0 0 0 0 0 0 0 2,003 0 2,003 LOWING 0 0 0 16,244 0 16,244 0 0 0 36,386 0 36,386 TY INSURANCE 4,048 0 4,048 10,657 0 10,657 0 0 0 28,781 0 28,781 OCCUPANCY EXPENSES 29,253 0 29,253 91,293 0 91,293 0 0 0 274,311 0 274,311 AD PERATING EXPENSES 36,195 0 36,195 133,523 0 133,523 33,968 0 33,968 395,948 0 395,948 roll expenses 0 0 0 0 0 0 (27,329) 0 (27,329) (27,329) 0 (27,329)upancy expenses (29,253) 0 (29,253) (91,293) 0 (91,293) 0 0 0 (274,311) 0 (274,311)verhead 6,942 0 6,942 42,231 0 42,231 6,639 0 6,639 94,309 0 94,309

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Globe Total Actual Budget Variance NUE ATING EXPENSES L & ACCOUNTING $325 $0 $325 L OPERATING EXPENSES 325 0 325 R INCOME/EXPENSES NCOME (LOSS) (325) 0 (325)

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OLL RELATED EXPENSES ETING EXPENSES, excluding salaries PANCY EXPENSES HEAD L OPERATING EXPENSES 325 0 325 Overhead 325 0 325

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