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Full title: Chapter 11 Monthly Operating Report for the Month Ending: 06/30/2021 Filed by Suitable Technologies, Inc.. (Attachments: # 1 Attachments) (Feldman, Betsy) (Entered: 07/19/2021)
Document posted on Jul 18, 2021 in the bankruptcy, 5 pages and 0 tables.
Bankrupt11 Summary (Automatically Generated)
Suitable Technologies, Inc § Case No. 20-10432 § § Debtor(s) § All bank statements and bank reconciliations for the reporting period Description of the assets sold or transferred and the terms of the sale or transfer/ Betsy L. Feldman Betsy L. Feldman ignature of Responsible Party Printed Name of Responsible Party7/19/2021Address art 1: Cash Receipts and Disbursements Current Month Cumulative.Income Statement (Statement of Operations)All professional fees and expenses (debtor & committees) $99,270 $2,977,141 $99,270 $2,977,141art 6: Postpetition Taxes Current Month Cumulative .
List of Tables
Document ContentsUNITED STATES BANKRUPTCY COURT DISTRICT OF DELAWARE n Re.Suitable Technologies, Inc § Case No. 20-10432 § § Debtor(s) § Jointly Administered onthly Operating Report Chapter 11 eporting Period Ended: 06/30/2021 Petition Date: 02/26/2020 onths Pending:16 Industry Classification: 3 3 4 2 eporting Method: Accrual Basis Cash Basis ebtor's Full-Time Employees (current): 0 ebtor's Full-Time Employees (as of date of order for relief): 0upporting Documentation (check all that are attached): For jointly administered debtors, any required schedules must be provided on a non-consolidated basis for each debtor)Statement of cash receipts and disbursements Balance sheet containing the summary and detail of the assets, liabilities and equity (net worth) or deficit Statement of operations (profit or loss statement) Accounts receivable aging Postpetition liabilities aging Statement of capital assets Schedule of payments to professionals Schedule of payments to insiders All bank statements and bank reconciliations for the reporting period Description of the assets sold or transferred and the terms of the sale or transfer/ Betsy L. Feldman Betsy L. Feldman ignature of Responsible Party Printed Name of Responsible Party7/19/2021 Young Conaway Stargatt & Taylor, LLP 1000 North King Street ate Wilmington, DE 19801 Address
1art 1: Cash Receipts and Disbursements Current Month Cumulative. Cash balance beginning of month $164,686 . Total receipts (net of transfers between accounts) $749,192 $5,897,139. Total disbursements (net of transfers between accounts) $516,919 $5,614,831. Cash balance end of month (a+b-c) $396,959 . Disbursements made by third party for the benefit of the estate $0 $0. Total disbursements for quarterly fee calculation (c+e) $516,919 $5,614,831art 2: Asset and Liability Status Current Month Not generally applicable to Individual Debtors. See Instructions.). Accounts receivable (total net of allowance) $0 . Accounts receivable over 90 days outstanding (net of allowance) $0. Inventory (Book Market Other (attach explanation)) $0 Total current assets $1,212,677 . Total assets $1,212,677 . Postpetition payables (excluding taxes) $5,347,455 . Postpetition payables past due (excluding taxes) $0 . Postpetition taxes payable $0 Postpetition taxes past due $0 Total postpetition debt (f+h) $5,347,455 . Prepetition secured debt $3,775,000 Prepetition priority debt $0 . Prepetition unsecured debt $97,774,738 . Total liabilities (debt) (j+k+l+m) $106,897,193 . Ending equity/net worth (e-n) $-105,684,516 art 3: Assets Sold or Transferred Current Month Cumulative . Total cash sales price for assets sold/transferred outside the ordinarycourse of business $0 $447,491 . Total payments to third parties incident to assets being sold/transferredoutside the ordinary course of business $0 $0 . Net cash proceeds from assets sold/transferred outside the ordinarycourse of business (a-b) $0 $447,491 art 4: Income Statement (Statement of Operations) Current Month CumulativeNot generally applicable to Individual Debtors. See Instructions.). Gross income/sales (net of returns and allowances) $1 . Cost of goods sold (inclusive of depreciation, if applicable) $0. Gross profit (a-b) $1 . Selling expenses $0 . General and administrative expenses $22,122 . Other expenses $0 . Depreciation and/or amortization (not included in 4b) $0 . Interest $0 . Taxes (local, state, and federal) $0 . Reorganization items $144,738
2art 5: Professional Fees and Expenses Approved Approved Paid Current Paid Current Month Cumulative Month Cumulative . Debtor's professional fees & expenses (bankruptcy) Aggregate Total $99,270 $2,840,408 $99,270 $2,840,408Itemized Breakdown by Firm Firm Name Role i Asgaard Capital LLC Other $20,901 $1,164,492 $20,901 $1,164,492ii Young, Conaway Stargatt & TaLead Counsel $77,825 $1,194,700 $77,825 $1,194,700iii Donlin Recano & Company IncOther $544 $178,772 $544 $178,772iv Stout Risuis Ross Advisors LLCOther $0 $302,444 $0 $302,444Approved Approved Paid Current Paid Current Month Cumulative Month Cumulative . Debtor's professional fees & expenses (nonbankruptcy) Aggregate Total $0 $136,733 $0 $136,733Itemized Breakdown by Firm Firm Name Role i Ascenda Law Group, PC Other $0 $70,124 $0 $70,124 ii Kranz & Associates Holdings LOther $0 $36,092 $0 $36,092 iii Marcum LLP Financial Professional $0 $14,838 $0 $14,838 iv Matterlight IP Other $0 $2,931 $0 $2,931 v MLP Tax & Financial Services,Other $0 $12,748 $0 $12,748 . All professional fees and expenses (debtor & committees) $99,270 $2,977,141 $99,270 $2,977,141art 6: Postpetition Taxes Current Month Cumulative . Postpetition income taxes accrued (local, state, and federal) $0 $0. Postpetition income taxes paid (local, state, and federal) $0 $0. Postpetition employer payroll taxes accrued $0 $0 . Postpetition employer payroll taxes paid $0 $0 . Postpetition property taxes paid $0 $937 . Postpetition other taxes accrued (local, state, and federal) $0 $0. Postpetition other taxes paid (local, state, and federal) $0 $5,178art 7: Questionnaire - During this reporting period: . Were any payments made on prepetition debt? (if yes, see Instructions) Yes No. Were any payments made outside the ordinary course of business Yes Nowithout court approval? (if yes, see Instructions) . Were any payments made to or on behalf of insiders? Yes No. Are you current on postpetition tax return filings? Yes No. Are you current on postpetition estimated tax payments? Yes No. Were all trust fund taxes remitted on a current basis? Yes No. Was there any postpetition borrowing, other than trade credit? Yes No(if yes, see Instructions) . Were all payments made to or on behalf of professionals approved by Yes No N/Athe court?
3Do you have: Worker's compensation insurance? Yes No If yes, are your premiums current? Yes No N/A (if no, see Instructions)Casualty/property insurance? Yes No If yes, are your premiums current? Yes No N/A (if no, see Instructions)General liability insurance? Yes No If yes, are your premiums current? Yes No N/A (if no, see Instructions)Has a plan of reorganization been filed with the court? Yes No. Has a disclosure statement been filed with the court? Yes NoAre you current with quarterly U.S. Trustee fees as Yes No set forth under 28 U.S.C. § 1930? art 8: Individual Chapter 11 Debtors (Only) . Gross income (receipts) from salary and wages $0 . Gross income (receipts) from self-employment $0 . Gross income from all other sources $0 . Total income in the reporting period (a+b+c) $0 . Payroll deductions $0 . Self-employment related expenses $0 . Living expenses $0 . All other expenses $0 . Total expenses in the reporting period (e+f+g+h) $0 . Difference between total income and total expenses (d-i) $0. List the total amount of all postpetition debts that are past due $0. Are you required to pay any Domestic Support Obligations as defined by 11 Yes NoU.S.C § 101(14A)? . If yes, have you made all Domestic Support Obligation payments? Yes No N/A
4Privacy Act Statement 8 U.S.C. § 589b authorizes the collection of this information, and provision of this information is mandatory under 11 U.S.C. § 704, 1106, and 1107. The United States Trustee will use this information to calculate statutory fee assessments under 28.S.C. § 1930(a)(6). The United States Trustee will also use this information to evaluate a chapter 11 debtor's progresshrough the bankruptcy system, including the likelihood of a plan of reorganization being confirmed and whether the case iseing prosecuted in good faith. This information may be disclosed to a bankruptcy trustee or examiner when the informations needed to perform the trustee's or examiner's duties or to the appropriate federal, state, local, regulatory, tribal, or foreignaw enforcement agency when the information indicates a violation or potential violation of law. Other disclosures may beade for routine purposes. For a discussion of the types of routine disclosures that may be made, you may consult thexecutive Office for United States Trustee's systems of records notice, UST-001, "Bankruptcy Case Files and Associatedecords." See 71 Fed. Reg. 59,818 et seq. (Oct. 11, 2006). A copy of the notice may be obtained at the following link: http://ww.justice.gov/ust/eo/rules_regulations/index.htm. Failure to provide this information could result in the dismissal oronversion of your bankruptcy case or other action by the United States Trustee. 11 U.S.C. § 1112(b)(4)(F). declare under penalty of perjury that the foregoing Monthly Operating Report and its supporting ocumentation are true and correct and that I have been authorized to sign this report on behalf of the state. s/ Charles C. Reardon Charles C Reardon ignature of Responsible Party Printed Name of Responsible Partyhief Restructuring Officer 07/19/2021 itle Date