UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________
FORM 8-K
_____________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 30, 2015
_____________
LIFE PARTNERS HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
| Texas | 0-7900 | 74-2962475 |
|
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
|
204 Woodhew Waco, Texas |
76712 |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (254) 751-7797
___________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 7.01 | Regulation FD. |
On December 21, 2015, Life Partners Holdings, Inc. (the “Company”) and its direct and indirect subsidiaries, Life Partners, Inc. and LPI Financial Services, Inc. (the “Subsidiaries”), filed with the United States Bankruptcy Court for the Northern District of Texas (the “Bankruptcy Court”) unaudited and unreviewed monthly operating reports for the Company and its direct and indirect subsidiaries for the month ended November 30, 2015 (the “November Monthly Operating Reports”). The November Monthly Operating Reports are attached to this current report on Form 8-K as Exhibits 99.1 through Exhibit 99.3 and are incorporated herein by reference. The Company and the Subsidiaries have previously filed with the Bankruptcy Court the unaudited and unreviewed monthly operating reports for the Company and the Subsidiaries attached to this current report on Form 8-K as Exhibits 99.4 through 99.19, and such reports are incorporated herein.
Limitation on Incorporation by Reference:
In accordance with general instruction B.2 of Form 8-K, the information in Item 7.01 of this report, including Exhibits 99.1 through Exhibit 99.19, is furnished pursuant to Item 7.01 and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| 99.1 | Monthly Operating Report for the month ended November 30, 2015 for Life Partners Holdings, Inc. |
| 99.2 | Monthly Operating Report for the month ended November 30, 2015 for Life Partners, Inc. |
| 99.3 | Monthly Operating Report for the month ended November 30, 2015 for LPI Financial Services, Inc. |
| 99.4 | Monthly Operating Report for the month ended September 30, 2015 for Life Partners Holdings, Inc. |
| 99.5 | Monthly Operating Report for the month ended September 30, 2015 for Life Partners, Inc. |
| 99.6 | Monthly Operating Report for the month ended September 30, 2015 for LPI Financial Services, Inc. |
| 99.7 | Monthly Operating Report for the month ended August 31, 2015 for Life Partners Holdings, Inc. |
| 99.8 | Monthly Operating Report for the month ended August 31, 2015 for Life Partners, Inc. |
| 99.9 | Monthly Operating Report for the month ended August 31, 2015 for LPI Financial Services, Inc. |
| 99.10 | Monthly Operating Report for the month ended July 31, 2015 for Life Partners Holdings, Inc. |
| 99.11 | Monthly Operating Report for the month ended July 31, 2015 for Life Partners, Inc. |
| 99.12 | Monthly Operating Report for the month ended July 31, 2015 for LPI Financial Services, Inc. |
| 99.13 | Monthly Operating Report for the month ended June 30, 2015 for Life Partners Holdings, Inc. |
| 99.14 | Monthly Operating Report for the month ended June 30, 2015 for Life Partners, Inc. |
| 99.15 | Monthly Operating Report for the month ended June 30, 2015 for LPI Financial Services, Inc. |
| 99.16 | Monthly Operating Report for the month ended May 31, 2015 for Life Partners Holdings, Inc. |
| 99.17 | Monthly Operating Report for the month ended April 30, 2015 for Life Partners Holdings, Inc. |
| 99.18 | Monthly Operating Report for the month ended March 31, 2015 for Life Partners Holdings, Inc. |
| 99.19 | Monthly Operating Report for the month ended February 28, 2015 for Life Partners Holdings, Inc. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| LIFE PARTNERS HOLDINGS, INC. | |||
| Date: December 21, 2015 | By: | /s/ Colette Pieper | |
| Colette Pieper | |||
| Chief Executive Officer | |||
INDEX TO EXHIBITS
| Item |
Exhibit
|
| 99.1 | Monthly Operating Report for the month ended October 31, 2015 for Life Partners Holdings, Inc. |
| 99.2 | Monthly Operating Report for the month ended October 31, 2015 for Life Partners, Inc. |
| 99.3 | Monthly Operating Report for the month ended October 31, 2015 for LPI Financial Services, Inc. |
| 99.4 | Monthly Operating Report for the month ended September 30, 2015 for Life Partners Holdings, Inc. |
| 99.5 | Monthly Operating Report for the month ended September 30, 2015 for Life Partners, Inc. |
| 99.6 | Monthly Operating Report for the month ended September 30, 2015 for LPI Financial Services, Inc. |
| 99.7 | Monthly Operating Report for the month ended August 31, 2015 for Life Partners Holdings, Inc. |
| 99.8 | Monthly Operating Report for the month ended August 31, 2015 for Life Partners, Inc. |
| 99.9 | Monthly Operating Report for the month ended August 31, 2015 for LPI Financial Services, Inc. |
| 99.10 | Monthly Operating Report for the month ended July 31, 2015 for Life Partners Holdings, Inc. |
| 99.11 | Monthly Operating Report for the month ended July 31, 2015 for Life Partners, Inc. |
| 99.12 | Monthly Operating Report for the month ended July 31, 2015 for LPI Financial Services, Inc. |
| 99.13 | Monthly Operating Report for the month ended June 30, 2015 for Life Partners Holdings, Inc. |
| 99.14 | Monthly Operating Report for the month ended June 30, 2015 for Life Partners, Inc. |
| 99.15 | Monthly Operating Report for the month ended June 30, 2015 for LPI Financial Services, Inc. |
| 99.16 | Monthly Operating Report for the month ended May 31, 2015 for Life Partners Holdings, Inc. |
| 99.17 | Monthly Operating Report for the month ended April 30, 2015 for Life Partners Holdings, Inc. |
| 99.18 | Monthly Operating Report for the month ended March 31, 2015 for Life Partners Holdings, Inc. |
| 99.19 | Monthly Operating Report for the month ended February 28, 2015 for Life Partners Holdings, Inc. |
Exhibit 99.1
| Monthly Operating Report | |
| ACCRUAL BASIS |
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| JUDGE: | Russell Nelms |
UNITED STATES BANKRUPTCY COURT
NORTHERN & EASTERN DISTRICTS OF TEXAS
REGION 6
MONTHLY OPERATING REPORT
| MONTH ENDING: | November | 2015 | ||
| MONTH | YEAR |
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT, AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
RESPONSIBLE PARTY:
| /s/ H. Thomas Moran II | Trustee | |
| ORIGINAL SIGNATURE OF RESPONSIBLE PARTY | TITLE | |
| H. Thomas Moran II | 12/21/2015 | |
| PRINTED NAME OF RESPONSIBLE PARTY | DATE | |
| PREPARER: | ||
| /s/ Colette Pieper | CEO | |
| ORIGINAL SIGNATURE OF PREPARER | TITLE | |
| Colette Pieper | 12/21/2015 | |
| PRINTED NAME OF PREPARER | DATE |
Monthly Operating Report
ACCRUAL BASIS-1
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
COMPARATIVE BALANCE SHEET
| SCHEDULE AMOUNT | SEPTEMBER | OCTOBER | NOVEMBER | ||||||||||||||||
| ASSETS | |||||||||||||||||||
| 1. | UNRESTRICTED CASH | $ | 51,248 | $ | 326,670 | $ | 354,758 | $ | 1,605,186 | ||||||||||
| 2. | RESTRICTED CASH | ||||||||||||||||||
| 3. | TOTAL CASH | $ | 51,248 | $ | 326,670 | $ | 354,758 | $ | 1,605,186 | ||||||||||
| 4. | ACCOUNTS RECEIVABLE (NET) | ||||||||||||||||||
| 5. | INVENTORY | ||||||||||||||||||
| 6. | NOTES RECEIVABLE | ||||||||||||||||||
| 7. | PREPAID EXPENSES | $ | 504,726 | $ | 468,698 | $ | 437,817 | ||||||||||||
| 8. | OTHER (ATTACH LIST) | $ | 76,415 | $ | 84,665 | $ | 84,665 | $ | 84,665 | ||||||||||
| 9. | TOTAL CURRENT ASSETS | $ | 127,664 | $ | 916,061 | $ | 908,120 | $ | 2,127,668 | ||||||||||
| 10. | PROPERTY, PLANT & EQUIPMENT | $ | 2,188,639 | $ | 2,188,639 | $ | 2,188,639 | $ | 0 | 1 | |||||||||
| 11. | LESS: ACCUMULATED DEPRECIATION/DEPLETION | $ | (831,120 | ) | $ | (836,838 | ) | $ | 0 | 1 | |||||||||
| 12. | NET PROPERTY, PLANT & EQUIPMENT | $ | 2,188,639 | $ | 1,357,519 | $ | 1,351,801 | $ | 0 | ||||||||||
| 13. | DUE FROM INSIDERS | ||||||||||||||||||
| 14. | OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) | $ | 166,250 | $ | 166,250 | $ | 0 | $ | 0 | ||||||||||
| 15. | OTHER (ATTACH LIST) | ||||||||||||||||||
| 16. | TOTAL ASSETS | $ | 2,482,552 | $ | 2,439,830 | $ | 2,259,921 | $ | 2,127,668 | ||||||||||
| POSTPETITION LIABILITIES | |||||||||||||||||||
| 17. | ACCOUNTS PAYABLE | $ | 1,054,868 | $ | 1,045,066 | $ | 570,490 | ||||||||||||
| 18. | TAXES PAYABLE | $ | 43,071 | $ | 76,683 | $ | 10,590 | 1 | |||||||||||
| 19. | NOTES PAYABLE | ||||||||||||||||||
| 20. | PROFESSIONAL FEES | $ | 6,156,291 | $ | 6,097,578 | $ | 4,355,725 | ||||||||||||
| 21. | SECURED DEBT | $ | 290,616 | $ | 258,193 | $ | 225,680 | ||||||||||||
| 22. | OTHER (ATTACH LIST) | ||||||||||||||||||
| 23. | TOTAL POSTPETITION LIABILITIES | $ | 7,544,846 | $ | 7,477,521 | $ | 5,162,485 | ||||||||||||
| PREPETITION LIABILITIES | |||||||||||||||||||
| 24. | SECURED DEBT | $ | 267,505 | $ | 65,035 | $ | 65,035 | 1 | |||||||||||
| 25. | PRIORITY DEBT | $ | 3,991,351 | $ | 90,306 | ||||||||||||||
| 26. | UNSECURED DEBT | $ | 114,283,485 | $ | 1,588,832 | $ | 1,588,832 | $ | 1,588,832 | 2 | |||||||||
| 27. | OTHER (ATTACH LIST) | ||||||||||||||||||
| 28. | TOTAL PREPETITION LIABILITIES | $ | 118,542,341 | $ | 1,653,867 | $ | 1,653,867 | $ | 1,679,138 | ||||||||||
| 29. | TOTAL LIABILITIES | $ | 118,542,341 | $ | 9,198,714 | $ | 9,131,388 | $ | 6,841,623 | ||||||||||
| EQUITY | |||||||||||||||||||
| 30. | PREPETITION OWNERS' EQUITY | $ | (73,722,301 | ) | $ | (73,722,301 | ) | $ | (73,722,301 | ) | |||||||||
| 31. | POSTPETITION CUMULATIVE PROFIT OR (LOSS) | $ | (7,578,724 | ) | $ | (7,692,486 | ) | $ | (7,600,208 | ) | |||||||||
| 32. | DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) | $ | 74,542,142 | $ | 74,543,320 | $ | (76,608,554 | ) | 3 | ||||||||||
| 33. | TOTAL EQUITY | $ | (6,758,884 | ) | $ | (6,871,467 | ) | $ | 4,713,955 | ||||||||||
| 34. | TOTAL LIABILITIES & OWNERS' EQUITY | $ | 2,439,830 | $ | 2,259,921 | $ | 2,127,668 | ||||||||||||
1 Property Plant & Equipment included the buildings that were sold per Dkt. 1089. Secured Debt and Taxes Payable included property taxes owed on the buildings that were collected at closing.
2 The Schedule Amount for Item 26. Unsecured Debt includes Intercompany Due To/From LPI shown below in Item 32.
3 Intercompany Due To/From Life Partners, Inc.
Monthly Operating Report
SUPPLEMENT TO
ACCRUAL BASIS-1
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
COMPARATIVE BALANCE SHEET
| SCHEDULE AMOUNT | SEPTEMBER | OCTOBER | NOVEMBER | |||||||||||||||
| 8. OTHER CURRENT ASSETS | ||||||||||||||||||
| 8. | Pardo Family Holdings Trust (Advance to Price L. Johnson, PC) | $ | 24,441 | $ | 31,323 | $ | 31,323 | $ | 31,323 | |||||||||
| 8. | Pardo Family Holdings Trust (Advance to Kyle, Mathis & Lucas, LLP) | $ | 51,975 | $ | 53,343 | $ | 53,343 | $ | 53,343 | |||||||||
| 8. | Rent due from Life Partners, Inc. | |||||||||||||||||
| 8. | ||||||||||||||||||
| 8. | ||||||||||||||||||
| 8. | ||||||||||||||||||
| 8. | ||||||||||||||||||
| 8 | ||||||||||||||||||
| 8. | TOTAL - OTHER CURRENT ASSETS | $ | 76,415 | $ | 84,665 | $ | 84,665 | $ | 84,665 | |||||||||
| 14. OTHER ASSETS - NET OF AMORTIZATION | ||||||||||||||||||
| 14. | Woolly Mammoth & Other Prehistoric Artifacts | $ | 166,250 | $ | 166,250 | |||||||||||||
| 14. | ||||||||||||||||||
| 14. | ||||||||||||||||||
| 14. | ||||||||||||||||||
| 14. | ||||||||||||||||||
| 14. | TOTAL - OTHER ASSETS (Net of Amort.) | $ | 166,250 | $ | 166,250 | $ | - | $ | - | |||||||||
| 15. OTHER ASSETS | ||||||||||||||||||
| 15. | ||||||||||||||||||
| 15. | ||||||||||||||||||
| 15. | ||||||||||||||||||
| 15. | ||||||||||||||||||
| 15. | ||||||||||||||||||
| 15. | ||||||||||||||||||
| 15. | ||||||||||||||||||
| 15. | ||||||||||||||||||
| 15. | ||||||||||||||||||
| 15. | TOTAL - OTHER ASSETS | $ | - | $ | - | $ | - | $ | - | |||||||||
| POSTPETITION LIABILITIES | ||||||||||||||||||
| 22. | ||||||||||||||||||
| 22. | ||||||||||||||||||
| 22. | ||||||||||||||||||
| 22. | ||||||||||||||||||
| 22. | ||||||||||||||||||
| 22. | ||||||||||||||||||
| 22 | TOTAL - OTHER POSTPETITION LIABILITIES | $ | - | $ | - | $ | - | |||||||||||
Monthly Operating Report
ACCRUAL BASIS-2
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| INCOME STATEMENT | AUGUST | SEPTEMBER | OCTOBER | NOVEMBER | ||||||||||||||||||||
| REVENUES | ||||||||||||||||||||||||
| 1. | GROSS REVENUES | |||||||||||||||||||||||
| 2. | LESS: RETURNS & DISCOUNTS | |||||||||||||||||||||||
| 3. | NET REVENUE | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||
| COST OF GOODS SOLD | ||||||||||||||||||||||||
| 4. | MATERIAL | |||||||||||||||||||||||
| 5. | DIRECT LABOR | |||||||||||||||||||||||
| 6. | DIRECT OVERHEAD | |||||||||||||||||||||||
| 7. | TOTAL COST OF GOODS SOLD | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||
| 8. | GROSS PROFIT | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||
| OPERATING EXPENSES | ||||||||||||||||||||||||
| 9. | OFFICER / INSIDER COMPENSATION | |||||||||||||||||||||||
| 10. | SELLING & MARKETING | |||||||||||||||||||||||
| 11. | GENERAL & ADMINISTRATIVE | $ | 42,251 | $ | 51,554 | $ | 73,439 | $ | 16,408 | 1 | ||||||||||||||
| 12. | RENT & LEASE | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||||
| 13. | OTHER (ATTACH LIST) | $ | 22,352 | $ | 15,413 | $ | 17,512 | $ | 8,894 | 1 | ||||||||||||||
| 14. | TOTAL OPERATING EXPENSES | $ | 64,603 | $ | 66,966 | $ | 90,951 | $ | 25,302 | |||||||||||||||
| 15. | INCOME BEFORE NON-OPERATING INCOME & EXPENSE | $ | (64,603 | ) | $ | (66,966 | ) | $ | (90,951 | ) | $ | (25,302 | ) | |||||||||||
| OTHER INCOME & EXPENSES | ||||||||||||||||||||||||
| 16. | NON-OPERATING INCOME (ATTACH LIST) | $ | (10,500 | ) | $ | (10,000 | ) | $ | (10,000 | ) | $ | (1,667 | ) | |||||||||||
| 17. | NON-OPERATING EXPENSE (ATTACH LIST) | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||||
| 18. | INTEREST EXPENSE | $ | 36 | $ | 31 | $ | 798 | $ | 29,169 | |||||||||||||||
| 19. | DEPRECIATION / DEPLETION | $ | 5,718 | $ | 5,718 | $ | 5,718 | $ | 6,517 | |||||||||||||||
| 20. | AMORTIZATION | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||||
| 21. | OTHER (ATTACH LIST) | $ | (35,447 | ) | $ | 39,133 | $ | (183,151 | ) | 2 | ||||||||||||||
| 22. | NET OTHER INCOME & EXPENSES | $ | (4,746 | ) | $ | 39,698 | ) | $ | 35,649 | $ | (149,132 | ) | ||||||||||||
| REORGANIZATION EXPENSES | ||||||||||||||||||||||||
| 23. | PROFESSIONAL FEES | $ | 804,838 | $ | (6,279 | ) | $ | (13,826 | ) | $ | 30,577 | 3 | ||||||||||||
| 24. | U.S. TRUSTEE FEES | $ | 71 | $ | 988 | $ | 975 | |||||||||||||||||
| 25. | OTHER (ATTACH LIST) | $ | 582 | $ | 669 | |||||||||||||||||||
| 26. | TOTAL REORGANIZATION EXPENSES | $ | 805,420 | $ | (5,540 | ) | $ | (12,838 | ) | $ | 31,552 | |||||||||||||
| 27. | INCOME TAX | $ | 10 | |||||||||||||||||||||
| 28. | NET PROFIT (LOSS) | $ | (865,276 | ) | $ | (21,738 | ) | $ | (113,762 | ) | $ | 92,278 | ||||||||||||
1 August figures have been adjusted to reflect $3,333.34 that was reclassified from Other to General & Administrative Expenses.
2 Item 21. Other Income & Expense for September is gain recognized on the sale of the airport hangar. This asset was carried on the books of Life Partners, Inc., but was owned by LPHI, therefore, the corresponding reduction in assets shows on Life Partners, Inc. MOR-1
3 Item 23. Professional Fees for October are negative due to reversing fees previously accrued on LPHI where the invoice received allocate the fees to LPI.
Monthly Operating Report
SUPPLEMENT TO
ACCRUAL BASIS-2
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| INCOME STATEMENT | AUGUST | SEPTEMBER | OCTOBER | NOVEMBER | |||||||||||||||
| OPERATING EXPENSES | |||||||||||||||||||
| 13. | LEGAL & PROFESSIONAL FEES | $ | 22,352 | $ | 15,413 | $ | 17,512 | $ | 8,894 | ||||||||||
| 13. | |||||||||||||||||||
| 13. | |||||||||||||||||||
| 13. | |||||||||||||||||||
| 13. | |||||||||||||||||||
| 13. | TOTAL OTHER OPERATING EXPENSES | $ | 22,352 | $ | 15,413 | $ | 17,512 | $ | 8,894 | ||||||||||
| NON-OPERATING INCOME | |||||||||||||||||||
| 16. | RENTAL INCOME | $ | 10,000 | $ | 10,000 | $ | 10,000 | $ | 1,667 | ||||||||||
| 16. | LATE FEE INCOME | $ | 500 | $ | 0 | ||||||||||||||
| 16. | |||||||||||||||||||
| 16. | TOTAL NON-OPERATING INCOME | $ | 10,500 | $ | 10,000 | $ | 10,000 | $ | 1,667 | ||||||||||
| OTHER INCOME & EXPENSES | |||||||||||||||||||
| 21. | GAIN ON SALE OF AIRPORT HANGAR | $ | (35,447 | ) | 1 | ||||||||||||||
| 21. | LOSS ON SALE OF ICE AGE COLLECTION | $ | 39,133 | $ | 0 | ||||||||||||||
| 21. | GAIN ON SALE OF BUILDINGS | $ | (196,072 | ) | |||||||||||||||
| 21. | FRANCHISE TAX EXPENSE | $ | 12,921 | ||||||||||||||||
| 21. | NET OTHER INCOME & EXPENSES | $ | 0 | $ | (35,447 | ) | $ | 39,133 | $ | (183,151 | ) | ||||||||
| REORGANIZATION EXPENSES | |||||||||||||||||||
| 25. | TRANSCRIPTION SERVICES | $ | 582 | $ | 669 | ||||||||||||||
| 25. | |||||||||||||||||||
| 25. | TOTAL OTHER REORGANIZATION EXPENSES | $ | 582 | $ | 669 | $ | 0 | $ | 0 | ||||||||||
1 Item 21 (September). The airport hangar was carried on the books of Life Partners, Inc., but was owned by LPHI, therefore, the corresponding reduction in assets shows on Life Partners, Inc. MOR-1
Monthly Operating Report
ACCRUAL BASIS-3
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| CASH RECEIPTS AND DISBURSEMENTS | QUARTER | OCTOBER | NOVEMBER | DECEMBER | QUARTER | |||||||||||||||||
| 1. | CASH - BEGINNING OF MONTH | $ | 326,670 | $ | 354,758 | $ | 1,605,186 | |||||||||||||||
| RECEIPTS FROM OPERATIONS | ||||||||||||||||||||||
| 2. | CASH SALES | $ | 0 | $ | 0 | |||||||||||||||||
| COLLECTION OF ACCOUNTS RECEIVABLE | ||||||||||||||||||||||
| 3. | PREPETITION | $ | 0 | $ | 0 | |||||||||||||||||
| 4. | POSTPETITION | $ | 0 | $ | 0 | |||||||||||||||||
| 5. | TOTAL OPERATING RECEIPTS | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||
| NON-OPERATING RECEIPTS | ||||||||||||||||||||||
| 6. | LOANS & ADVANCES (ATTACH LIST) | $ | 0 | $ | 0 | |||||||||||||||||
| 7. | SALE OF ASSETS | $ | 268,996 | $ | 67,117 | $ | 1,389,341 | $ | 1,456,458 | 1 | ||||||||||||
| 8. | OTHER (ATTACH LIST) | $ | 41,423 | $ | 10,000 | $ | 1,667 | $ | 0 | $ | 11,667 | |||||||||||
| 9. | TOTAL NON-OPERATING RECEIPTS | $ | 310,419 | $ | 77,117 | $ | 1,391,008 | $ | 0 | $ | 1,468,125 | |||||||||||
| 10. | TOTAL RECEIPTS | $ | 310,419 | $ | 77,117 | $ | 1,391,008 | $ | 0 | $ | 1,468,125 | |||||||||||
| 11. | TOTAL CASH AVAILABLE | $ | 310,419 | $ | 403,787 | $ | 1,745,766 | $ | 1,605,186 | $ | 1,468,125 | |||||||||||
| OPERATING DISBURSEMENTS | ||||||||||||||||||||||
| 12. | NET PAYROLL | $ | 0 | $ | 0 | |||||||||||||||||
| 13. | PAYROLL TAXES PAID | $ | 0 | $ | 0 | |||||||||||||||||
| 14. | SALES, USE & OTHER TAXES PAID | $ | 10 | $ | 11,510 | $ | 11,510 | |||||||||||||||
| 15. | SECURED / RENTAL / LEASES | $ | 0 | $ | 0 | |||||||||||||||||
| 16. | UTILITIES | $ | 0 | $ | 0 | |||||||||||||||||
| 17. | INSURANCE | $ | 7,388 | $ | 34,572 | $ | 35,255 | $ | 69,827 | |||||||||||||
| 18. | INVENTORY PURCHASES | $ | 0 | $ | 0 | |||||||||||||||||
| 19. | VEHICLE EXPENSES | $ | 0 | $ | 0 | |||||||||||||||||
| 20. | TRAVEL | $ | 0 | $ | 0 | |||||||||||||||||
| 21. | ENTERTAINMENT | $ | 0 | $ | 0 | |||||||||||||||||
| 22. | REPAIRS & MAINTENANCE | $ | 0 | $ | 0 | |||||||||||||||||
| 23. | SUPPLIES | $ | 0 | $ | 0 | |||||||||||||||||
| 24. | ADVERTISING | $ | 0 | $ | 0 | |||||||||||||||||
| 25. | OTHER (ATTACH LIST) | $ | 6,624 | $ | 12,299 | $ | 4,105 | $ | 0 | $ | 16,404 | |||||||||||
| 26. | TOTAL OPERATING DISBURSEMENTS | $ | 14,022 | $ | 46,871 | $ | 50,870 | $ | 0 | $ | 97,741 | |||||||||||
| REORGANIZATION EXPENSES | ||||||||||||||||||||||
| 27. | PROFESSIONAL FEES | $ | 0 | $ | 947 | $ | 89,652 | $ | 90,598 | |||||||||||||
| 28. | U.S. TRUSTEE FEES | $ | 1,950 | $ | 650 | $ | 650 | |||||||||||||||
| 29. | OTHER (ATTACH LIST) | $ | 2,459 | $ | 562 | $ | 58 | $ | 0 | $ | 620 | |||||||||||
| 30. | TOTAL REORGANIZATION EXPENSES | $ | 4,409 | $ | 2,159 | $ | 89,710 | $ | 0 | $ | 91,869 | |||||||||||
| 31. | TOTAL DISBURSEMENTS | $ | 18,431 | $ | 49,030 | $ | 140,580 | $ | 0 | $ | 189,610 | |||||||||||
| 32. | NET CASH FLOW | $ | 291,989 | $ | 28,087 | $ | 1,250,428 | $ | 0 | $ | 1,278,515 | |||||||||||
| 33. | CASH - END OF MONTH | $ | 354,758 | $ | 1,605,186 | $ | 1,605,186 | |||||||||||||||
1 Item 7. Sale of Assets for November includes proceeds received from the sale of the buildings net of closing costs & property taxes. October includes proceeds from the sale of the Ice Age Collection, and September includes $208,996.12 received from the sale of the airplane hangar and a $60,000 down payment on the sale of the Ice Age Collection.
Monthly Operating Report
SUPPLEMENT TO
ACCRUAL BASIS-3
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| CASH RECEIPTS AND DISBURSEMENTS | QUARTER | OCTOBER | NOVEMBER | DECEMBER | QUARTER | |||||||||||||||||
| OTHER NON-OPERATING RECEIPTS | ||||||||||||||||||||||
| 8. | Lease & Rental Income | $ | 30,500 | $ | 10,000 | $ | 1,667 | $ | 11,667 | |||||||||||||
| 8. | Return of Retainer | $ | 5,755 | |||||||||||||||||||
| 8. | Worker's Compensation Dividend | $ | 5,168 | $ | - | |||||||||||||||||
| 8. | Total - Non-Operating Receipts | $ | 41,423 | $ | 10,000 | $ | 1,667 | $ | - | $ | 11,667 | |||||||||||
| OTHER OPERATING DISBURSEMENTS | ||||||||||||||||||||||
| 25. | Registrar & Transfer Fees | $ | 2,450 | $ | 1,050 | $ | 2,100 | $ | 3,150 | |||||||||||||
| 25 | Penalty Interest on 2014 Property Taxes | $ | - | |||||||||||||||||||
| 25. | Filing Fees | $ | 212 | $ | 820 | $ | 820 | |||||||||||||||
| 25. | Web Page Hosting | $ | 3,750 | $ | 11,249 | $ | 1,185 | $ | 12,434 | |||||||||||||
| 25. | Bank Acct Analysis Fee | $ | 213 | $ | - | |||||||||||||||||
| 25. | Total - Other Operating Disbursements | $ | 6,624 | $ | 12,299 | $ | 4,105 | $ | - | $ | 16,404 | |||||||||||
| OTHER REORGANIZATION EXPENSES | ||||||||||||||||||||||
| 29. | Transcription Services | $ | 2,459 | $ | 562 | $ | 58 | $ | 620 | |||||||||||||
| 29. | $ | 0 | $ | 0 | ||||||||||||||||||
| 29. | Total - Other Reorganization Expenses | $ | 2,459 | $ | 562 | $ | 58 | $ | - | $ | 620 | |||||||||||
Monthly Operating Report
ACCRUAL BASIS-4
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| SCHEDULE AMOUNT | SEPTEMBER | OCTOBER | NOVEMBER | ||||||||||||||||||||
| ACCOUNTS RECEIVABLE AGING | |||||||||||||||||||||||
| 1. | 0-30 | ||||||||||||||||||||||
| 2. | 31-60 | ||||||||||||||||||||||
| 3. | 61-90 | ||||||||||||||||||||||
| 4. | 91+ | ||||||||||||||||||||||
| 5. | TOTAL ACCOUNTS RECEIVABLE | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||||
| 6. | AMOUNT CONSIDERED UNCOLLECTIBLE | ||||||||||||||||||||||
| 7. | ACCOUNTS RECEIVABLE (NET) | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||||
| AGING OF POSTPETITION TAXES AND PAYABLES | MONTH: | November | 2015 | ||||||||||||||||||||
| 0-30 | 31-60 | 61-90 | 91+ | ||||||||||||||||||||
| TAXES PAYABLE | DAYS | DAYS | DAYS | DAYS | TOTAL | ||||||||||||||||||
| 1. | FEDERAL | $ | 0 | ||||||||||||||||||||
| 2. | STATE | $ | 0 | ||||||||||||||||||||
| 3. | LOCAL | $ | 0 | ||||||||||||||||||||
| 4. | OTHER (ATTACH LIST) | $ | 10,590 | $ | 10,590 | 2 | |||||||||||||||||
| 5. | TOTAL TAXES PAYABLE | $ | 10,590 | $ | 0 | $ | 0 | $ | 0 | $ | 10,590 | ||||||||||||
| 6. | ACCOUNTS PAYABLE | $ | 98,970 | $ | 152,024 | $ | 319,496 | $ | 570,490 | ||||||||||||||
| STATUS OF POSTPETITION TAXES | MONTH: | November | 2015 | ||||||||||||||||||||
| BEGINNING | AMOUNT | ENDING | |||||||||||||||||||||
| TAX | WITHHELD AND/ | AMOUNT | TAX | ||||||||||||||||||||
| FEDERAL | LIABILITY | 0R ACCRUED | PAID | LIABILITY | |||||||||||||||||||
| 1. | WITHHOLDING | $ | 0 | ||||||||||||||||||||
| 2. | FICA-EMPLOYEE | $ | 0 | ||||||||||||||||||||
| 3. | FICA-EMPLOYER | $ | 0 | ||||||||||||||||||||
| 4. | UNEMPLOYMENT | $ | 0 | ||||||||||||||||||||
| 5. | INCOME | $ | 0 | ||||||||||||||||||||
| 6. | OTHER (ATTACH LIST) | $ | 0 | ||||||||||||||||||||
| 7. | TOTAL FEDERAL TAXES | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||||
| STATE AND LOCAL | |||||||||||||||||||||||
| 8. | WITHHOLDING | $ | 0 | ||||||||||||||||||||
| 9. | SALES | $ | 0 | ||||||||||||||||||||
| 10. | EXCISE | $ | 0 | ||||||||||||||||||||
| 11. | UNEMPLOYMENT | $ | 0 | ||||||||||||||||||||
| 12. | REAL PROPERTY | $ | 76,683 | $ | 76,683 | $ | 0 | 1 | |||||||||||||||
| 13. | PERSONAL PROPERTY | $ | 0 | ||||||||||||||||||||
| 14. | OTHER (ATTACH LIST) | $ | 10,590 | $ | 10,590 | 2 | |||||||||||||||||
| 15. | TOTAL STATE & LOCAL | $ | 76,683 | $ | 10,590 | $ | 76,683 | $ | 10,590 | ||||||||||||||
| 16. | TOTAL TAXES | $ | 76,683 | $ | 10,590 | $ | 76,683 | $ | 10,590 | ||||||||||||||
1 All property taxes for calendar 2014 & 2015 were paid at the closing on the sale of the buildings.
2 This is Texas Franchise Tax previously shown on LPI books. This does not include $90,305.59 considered prepetition.
Monthly Operating Report
ACCRUAL BASIS-5
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | November 2015 | |||||
| BANK RECONCILIATIONS | ||||||
| Account #1 | Account #2 | Account #3 | ||||||||||||||||
| A. BANK: | Bank of America | Alliance Bank | Bank of Texas | |||||||||||||||
| B. ACCOUNT NUMBER: | 3363 | 613 | 3772 | TOTAL | ||||||||||||||
| C. PURPOSE (TYPE): | DIP Account | MoneyMarket | Checking | |||||||||||||||
| 1. | BALANCE PER BANK STATEMENT | $ | 1,606,354 | $ | 1,606,354 | |||||||||||||
| 2. | ADD: TOTAL DEPOSITS NOT CREDITED | 0 | ||||||||||||||||
| 3. | SUBTRACT: OUTSTANDING CHECKS | $ | 1,169 | $ | 1,169 | |||||||||||||
| 4. | OTHER RECONCILING ITEMS | $0 | ||||||||||||||||
| 5. | MONTH END BALANCE PER BOOKS | $ | 0 | $ | 0 | $ | 1,605,186 | $ | 1,605,186 | |||||||||
| 6. | NUMBER OF LAST CHECK WRITTEN | 1013 | 1039 | |||||||||||||||
| INVESTMENT ACCOUNTS | ||||||||||||||||||
| DATE OF | TYPE OF | PURCHASE | CURRENT | |||||||||||||||
| BANK, ACCOUNT NAME & NUMBER | PURCHASE | INSTRUMENT | PRICE | VALUE | ||||||||||||||
| 7. | ||||||||||||||||||
| 8. | ||||||||||||||||||
| 9. | ||||||||||||||||||
| 10. | ||||||||||||||||||
| 11. | TOTAL INVESTMENTS | $ | 0 | $ | 0 | |||||||||||||
| CASH | ||||||||||||||||||
| 12. | CURRENCY ON HAND | $ | 0 | |||||||||||||||
| 13. | TOTAL CASH - END OF MONTH | $ | 1,605,186 | |||||||||||||||
Monthly Operating Report
ACCRUAL BASIS-6
| ASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | November 2015 | |||||||
PAYMENTS TO INSIDERS AND PROFESSIONALS
| INSIDERS | ||||||||||||
| TYPE OF | AMOUNT | TOTAL PAID | ||||||||||
| NAME | PAYMENT | PAID | TO DATE | |||||||||
| 1. | ||||||||||||
| 2. | ||||||||||||
| 3. | ||||||||||||
| 4. | ||||||||||||
| 5. | ||||||||||||
| 6. TOTAL PAYMENTS TO INSIDERS | $ | 0 | $ | 0 | ||||||||
| PROFESSIONALS | 3 | |||||||||||||||||||||||
| DATE OF COURT | TOTAL | |||||||||||||||||||||||
| ORDER AUTHORIZING | AMOUNT | AMOUNT | TOTAL PAID | INCURRED | ||||||||||||||||||||
| NAME | PAYMENT | APPROVED | PAID | TO DATE | &UNPAID | |||||||||||||||||||
| 1. | Asset Servicing Group | 10/29/15 | $ | 344,134 | $ | 344,134 | $ | 344,134 | $ | 502,572 | 2 | |||||||||||||
| 2. | Bridgepoint Consulting | 10/29/15 | $ | 70,372 | $ | 70,372 | $ | 70,372 | $ | 665,552 | 2 | |||||||||||||
| 3. | Epiq Bankruptcy Solutions | 05/22/15 | $ | 2,318,973 | $ | 1,532,306 | $ | 2,091,079 | $ | 227,894 | 1&2 | |||||||||||||
| 4. | Forshey & Prostok, LLP | 04/28/15 | $ | 154,409 | $ | 96,796 | $ | 154,409 | $ | 0 | 1 | |||||||||||||
| 5. | Kevin Buchanan & Associates | 07/01/15 | $ | 140,235 | $ | 140,235 | $ | 140,235 | $ | 0 | 2 | |||||||||||||
| 6. | Kim Hinkle, Attorney at Law | 10/29/15 | $ | 80,408 | $ | 80,408 | $ | 80,408 | $ | 128,516 | 2 | |||||||||||||
| 7. | MMS Advisors | $ | 346,992 | |||||||||||||||||||||
| 8. | Munsch, Hardt, Kopf & Harr, P.C. | 10/29/15 | $ | 597,453 | $ | 597,453 | $ | 597,453 | $ | 1,161,836 | 2 | |||||||||||||
| 9. | Phillips Murrah | 10/29/15 | $ | 82,045 | $ | 82,045 | $ | 82,045 | $ | 72,977 | ||||||||||||||
| 10. | Pronske Goolsby & Kathman, P.C. | 05/05/15 | $ | 128,618 | $ | 28,618 | $ | 128,618 | $ | 0 | 1&2 | |||||||||||||
| 11. | Thompson & Knight, LLP | 10/29/15 | $ | 2,470,095 | $ | 2,466,661 | $ | 2,470,095 | $ | 6,714,050 | 2 | |||||||||||||
| 12. | Tom Moran, US Trustee | $ | 6,588 | $ | 16,220 | $ | 520,330 | 2 | ||||||||||||||||
| 13. | Smith, Jackson, Boyer & Bovard, PLLC | 10/29/15 | $ | 7,463 | $ | 7,463 | $ | 7,463 | $ | 52,552 | 2 | |||||||||||||
| 14. | Predictive Resources | $ | 113,867 | |||||||||||||||||||||
| 15. | D3G/Lewis & Ellis | $ | 111,140 | |||||||||||||||||||||
| 16. | Barbara Pope | $ | 42,477 | 2 | ||||||||||||||||||||
| 17. | TOTAL PAYMENTS TO PROFESSIONALS | $ | 5,453,079 | $ | 6,182,531 | $ | 10,660,755 | |||||||||||||||||
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
| SCHEDULED | AMOUNTS | |||||||||||||
| MONTHLY | PAID | TOTAL | ||||||||||||
| PAYMENTS | DURING | UNPAID | ||||||||||||
| NAME OF CREDITOR | DUE | MONTH | POSTPETITION | |||||||||||
| 1. | Bank Direct Capital Finance | $ | 1,105 | $ | 1,105 | $ | 3,283 | |||||||
| 2. | First Insurance Funding Corp. | $ | 32,116 | $ | 32,116 | $ | 222,397 | |||||||
| 3. | ||||||||||||||
| 4. | ||||||||||||||
| 5. | ||||||||||||||
| 6. | TOTAL | $ | 33,221 | $ | 33,221 | $ | 225,680 | |||||||
1 Total Paid To Date includes retainers paid in prior months by Life Partners, Inc.
2 These amounts paid were paid by LPI. LPHI paid $6,706.90 of the amount paid to Epiq Bankruptcy Solutions.
3 Professional fees and expenses estimated and accrued prior to May 19th are reflected only on the books of Life Partners Holdings, Inc. Thereafter, professional fees and expenses reflect the estimated aggregate, unallocated fees and expenses for all of the Debtors, and are noted on each of the Debtors MORs.
Monthly Operating Report
ACCRUAL BASIS-7
| CASE NAME: | Life Partners Holdings, Inc. | ||||||||
| CASE NUMBER: | 15-40289-rfn-11 | ||||||||
| MONTH: | November 2015 | ||||||||
| QUESTIONNAIRE | |||||||||
| YES | NO | ||||||||
| 1. | HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE | X | |||||||
| THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? | |||||||||
| 2. | HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT | X | |||||||
| OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? | |||||||||
| 3. | ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR | X | |||||||
| LOANS) DUE FROM RELATED PARTIES? | |||||||||
| 4. | HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES | X | |||||||
| THIS REPORTING PERIOD? | |||||||||
| 5. | HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE | X | |||||||
| DEBTOR FROM ANY PARTY? | |||||||||
| 6. | ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? | X | |||||||
| 7. | ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES | X | |||||||
| PAST DUE? | |||||||||
| 8. | ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? | X | |||||||
| 9. | ARE ANY OTHER POSTPETITION TAXES PAST DUE? | X | |||||||
| 10. | ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS | X | |||||||
| DELINQUENT? | |||||||||
| 11. | HAVE ANY PREPETITION TAXES BEEN PAID DURING THE | X | |||||||
| REPORTING PERIOD? | |||||||||
| 12. | ARE ANY WAGE PAYMENTS PAST DUE? | X | |||||||
| IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES," PROVIDE A DETAILED | |||||||||
| EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY. | |||||||||
| Questionnaire Item 1. The buildings were sold pursuant to court order (Docket 1089). | |||||||||
| Questionnaire Item 5. A postpetition loan was received from First Insurance Funding Corp. to finance D&O and E&O insurance premiums. In November, Life Partners received draws of $6,328,476 from Loaned Maturity Funds per Docker 1127. | |||||||||
| Questionnaire Item 10. Past due amounts are mainly professional fees incurred after the filing date. | |||||||||
| Questionnaire Item 4 & 11. Prepetition Property Taxes were paid at the closing for the sale of the buildings. | |||||||||
| INSURANCE | |||||||||
| YES | NO | ||||||||
| 1. | ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER | X | |||||||
| NECESSARY INSURANCE COVERAGES IN EFFECT? | |||||||||
| 2. | ARE ALL PREMIUM PAYMENTS PAID CURRENT? | X | |||||||
| 3. | PLEASE ITEMIZE POLICIES BELOW. | ||||||||
| IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO," OR IF ANY POLICIES HAVE BEEN | |||||||||
| CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION | |||||||||
| BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY. | |||||||||
| Commercial Fine Arts insurance thru Travelers Lloyds Insurance was cancelled due to sale of artifacts (Ice Age Collection). | |||||||||
| INSTALLMENT PAYMENTS | ||||||||||||||||||||
| TYPE OF | PAYMENT AMOUNT | |||||||||||||||||||
| POLICY | CARRIER | PERIOD COVERED | &FREQUENCY | |||||||||||||||||
| Directors & Officers | Illinois National | 09/30/15- 09/30/16 | ||||||||||||||||||
| Errors & Omissions | Indian Harbor | 09/30/15- 09/30/16 | ||||||||||||||||||
| Total for Financed thru | First Insurance Funding Corp | $ | 32,116.09 /month | |||||||||||||||||
| Commercial Package* | Allied Insurance | 06 /14/15- 06/13/16 | $ | 923.79 /month | ||||||||||||||||
| Commercial Fine Arts | Travelers Lloyds Insurance | 06 /14/15- 06/14/16 | $ | 285.10 /month | 1 | |||||||||||||||
| Cyber Liability | Beazley Insurance | 05 /12/15- 06/12/16 | $ | 1,104.82 /month | ||||||||||||||||
| * includes auto, building, edp, excess liability | ||||||||||||||||||||
| 1 This obligation has been paid in full in November. | |||||||||
Exhibit 99.2
| Monthly Operating Report | |
| ACCRUAL BASIS |
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| JUDGE: | Russell Nelms |
UNITED STATES BANKRUPTCY COURT
NORTHERN & EASTERN DISTRICTS OF TEXAS
REGION 6
MONTHLY OPERATING REPORT
| MONTH ENDING: | November | 2015 | ||
| MONTH | YEAR |
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT, AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
| RESPONSIBLE PARTY: | ||
| /s/ H. Thomas Moran II | Trustee | |
| ORIGINAL SIGNATURE OF RESPONSIBLE PARTY | TITLE | |
| H. Thomas Moran II | 12/21/2015 | |
| PRINTED NAME OF RESPONSIBLE PARTY | DATE | |
| PREPARER: | ||
| /s/ Colette Pieper | CEO | |
| ORIGINAL SIGNATURE OF PREPARER | TITLE | |
| Colette Pieper | 12/21/2015 | |
| PRINTED NAME OF PREPARER | DATE |
| Monthly Operating Report | |
| ACCRUAL BASIS-1 |
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| COMPARATIVE BALANCE SHEET | |
| SCHEDULE AMOUNT | SEPTEMBER | OCTOBER | NOVEMBER | |||||||||||||||
| ASSETS | ||||||||||||||||||
| 1. | UNRESTRICTED CASH | $ | 295,821 | $ | 242,099 | $ | 228,824 | $ | 639,314 | |||||||||
| 2. | RESTRICTED CASH | $ | 101,555 | $ | 101,613 | $ | 7 | $ | 7 | |||||||||
| 3. | TOTAL CASH | $ | 397,376 | $ | 343,712 | $ | 228,831 | $ | 639,322 | |||||||||
| 4. | ACCOUNTS RECEIVABLE (NET) | $ | 143,949 | $ | 135,456 | $ | 133,532 | $ | 133,532 | |||||||||
| 5. | INVENTORY | |||||||||||||||||
| 6. | NOTES RECEIVABLE | $ | 8,912 | |||||||||||||||
| 7. | PREPAID EXPENSES | $ | 343,387 | $ | 124,649 | $ | 122,207 | $ | 99,366 | |||||||||
| 8. | OTHER (ATTACH LIST) | $ | 49,475 | $ | 58,696 | $ | 54,434 | $ | 54,317 | |||||||||
| 9. | TOTAL CURRENT ASSETS | $ | 943,098 | $ | 662,514 | $ | 539,004 | $ | 926,536 | |||||||||
| 10. | PROPERTY, PLANT & EQUIPMENT | $ | 1,996,382 | $ | 1,996,382 | $ | 1,996,382 | |||||||||||
| 11. | LESS: ACCUMULATED DEPRECIATION/DEPLETION | $ | (1,874,992 | ) | $ | (1,881,353 | ) | $ | (1,887,714 | ) | ||||||||
| 12. | NET PROPERTY, PLANT & EQUIPMENT | $ | 299,672 | $ | 121,390 | $ | 115,029 | $ | 108,667 | |||||||||
| 13. | DUE FROM INSIDERS | $ | 74,265,951 | $ | 0 | $ | 0 | $ | 0 | |||||||||
| 14. | OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) | $ | 662,950 | $ | 662,950 | $ | 0 | $ | 0 | |||||||||
| 15. | OTHER (ATTACH LIST) | $ | 13,513,629 | $ | 13,246,192 | $ | 13,917,492 | $ | 14,158,827 | |||||||||
| 16. | TOTAL ASSETS | $ | 89,685,300 | $ | 14,693,046 | $ | 14,571,525 | $ | 15,194,031 | |||||||||
| POSTPETITION LIABILITIES | ||||||||||||||||||
| 17. | ACCOUNTS PAYABLE | $ | 1,329,537 | $ | 1,866,555 | $969,423 | 4 | |||||||||||
| 18. | TAXES PAYABLE | $ | 13,551 | $ | 90,454 | $86,726 | 5 | |||||||||||
| 19. | NOTES PAYABLE | $ | 0 | $ | 0 | $ | 0 | |||||||||||
| 20. | PROFESSIONAL FEES | $ | 2,923,067 | $ | 4,942,561 | $ | 4,807,620 | |||||||||||
| 21. | SECURED DEBT | $ | 0 | $ | 0 | $ | 0 | |||||||||||
| 22. | OTHER (ATTACH LIST) | $ | 5,182,720 | $ | 5,179,974 | $ | 11,509,046 | |||||||||||
| 23. | TOTAL POSTPETITION LIABILITIES | $ | 9,448,874 | $ | 12,079,543 | $ | 17,372,815 | |||||||||||
| PREPETITION LIABILITIES | ||||||||||||||||||
| 24. | SECURED DEBT | undetermined | $ | 5,976 | $ | 5,976 | $5,976 | 2 | ||||||||||
| 25. | PRIORITY DEBT | undetermined | $ | 90,306 | $ | 90,306 | $0 | 3 | ||||||||||
| 26. | UNSECURED DEBT | $ | 9,203,450 | $ | 686,492 | $ | 686,588 | $ | 686,588 | |||||||||
| 27. | OTHER (ATTACH LIST) | $ | 0 | $ | 0 | $ | 0 | |||||||||||
| 28. | TOTAL PREPETITION LIABILITIES | $ | 9,203,450 | $ | 782,773 | $ | 782,869 | $ | 692,564 | |||||||||
| 29. | TOTAL LIABILITIES | $ | 9,203,450 | $ | 10,231,647 | $ | 12,862,412 | $ | 18,065,378 | |||||||||
| EQUITY | ||||||||||||||||||
| 30. | PREPETITION OWNERS' EQUITY | $ | 78,978,770 | $ | 78,978,770 | $ | 78,978,770 | |||||||||||
| 31. | POSTPETITION CUMULATIVE PROFIT OR (LOSS) | $ | (6,440,232 | ) | $ | (9,440,896 | ) | $ | (11,835,724 | ) | ||||||||
| 32. | DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) | $ | (68,077,139 | ) | $ | (67,828,761 | ) | $ | (70,014,393) | 1 | ||||||||
| 33. | TOTAL EQUITY | $ | 4,461,399 | $ | 1,709,113 | $ | (2,871,347 | ) | ||||||||||
| 34. | TOTAL LIABILITIES & OWNERS' EQUITY | $ | 14,693,046 | $ | 14,571,525 | $ | 15,194,031 | |||||||||||
| 1 | This includes the following intercompany amounts shown below. The Schedule Amount related to this is shown under Item 13. Due From Insiders. |
| Due from Life Partners Holdings, Inc. | $ | 76,608,553.70 | ||
| Due from LPHI Management Services | $ | 11,719.74 | ||
| Due to LPI Financial Services, Inc. | $ | (6,605,879.95 | ) | |
| $ | 70,014,393.49 |
| 2 | Item 24. Secured Debt is accrued property taxes for the prepetition period of Jan. 1, 2015 thru May 19, 2015. |
| 3 | This prepetition liability for Texas Franchise Tax has been moved to LPHI's books. |
| 4 | Item 17. Accounts Payables includes $834,339.48 of invoices from bankruptcy professionals that would normally be included in Item 20. Professional Fees. |
| 5 | Accrued personal property taxes includes an adjustment to taxes as a result of the taxing authority changing the valuation of the airplane held on 1/1/15. |
| Monthly Operating Report | |
| SUPPLEMENT TO | |
| ACCRUAL BASIS-1 |
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
COMPARATIVE BALANCE SHEET
| SCHEDULE AMOUNT | SEPTEMBER | OCTOBER | NOVEMBER | |||||||||||||||
| 8. OTHER CURRENT ASSETS | ||||||||||||||||||
| 8. | Pardo Family Holdings Trust (Advance to Price L. Johnson, PC) | $ | 25,000 | $ | 25,000 | $ | 25,000 | $ | 25,000 | |||||||||
| 8. | Pardo Family Holdings Trust (Advance to Kyle, Mathis & Lucas, LLP) | $ | 15,505 | $ | 15,505 | $ | 15,505 | $ | 15,505 | |||||||||
| 8. | ESP Communications Duplicate Payment | $ | 7,500 | $ | 7,500 | $ | 7,500 | $ | 7,500 | |||||||||
| 8. | Advance Trust & Life Escrow Services, LTA (Abandonment Premiums) | $ | 5,064 | $ | 5,064 | $ | 5,064 | |||||||||||
| 8. | Purchase Escrow Services (Abandonment Premiums) | $ | 3,429 | $ | - | $ | - | 2 | ||||||||||
| 8. | Employee Advances | $ | 992 | $ | 659 | $ | 0 | $ | 0 | |||||||||
| 8. | Notes Receivable-Employee | $ | 477 | $ | 1,539 | $ | 1,365 | $ | 1,248 | |||||||||
| 8 | ||||||||||||||||||
| 8. | TOTAL - OTHER CURRENT ASSETS | $ | 49,475 | $ | 58,696 | $ | 54,434 | $ | 54,317 | |||||||||
| 14. OTHER ASSETS - NET OF AMORTIZATION | ||||||||||||||||||
| 14. | Woolly Mammoth & Other Prehistoric Artifacts | $ | 662,950 | $ | 662,950 | $ | - | $ | - | 1 | ||||||||
| 14. | ||||||||||||||||||
| 14. | ||||||||||||||||||
| 14. | ||||||||||||||||||
| 14. | ||||||||||||||||||
| 14. | TOTAL - OTHER ASSETS (Net of Amort.) | $ | 662,950 | $ | 662,950 | $ | - | $ | - | |||||||||
| 15. OTHER ASSETS | ||||||||||||||||||
| 15. | TDL, LLC Misappropriation of Foreign Exchange Funds | $ | 257,395 | |||||||||||||||
| 15. | Advance on Premiums paid by PES on behalf of investors | $ | 13,083,062 | $ | 13,505,182 | $ | 14,029,884 | $ | 14,234,508 | |||||||||
| 15. | Advance on Premiums paid by ATLES on behalf of investors | $ | 136,291 | $ | 137,006 | $ | 273,922 | $ | 310,633 | |||||||||
| 15. | Allowance for Bad Debts | $ | (5,483,317 | ) | $ | (5,483,317 | ) | $ | (5,483,317 | ) | ||||||||
| 15. | Overpayments of Commissions Receivable | $ | 36,881 | |||||||||||||||
| 15. | Deferred Income Tax Benefit | $ | 4,632,419 | $ | 4,632,419 | $ | 4,632,419 | |||||||||||
| 15. | Policy Purchase | $ | 123,591 | $ | 123,591 | $ | 123,591 | |||||||||||
| 15. | Capitalized Premiums on Policies Purchased | $ | 315,754 | $ | 325,436 | $ | 325,436 | |||||||||||
| 15. | Deposits | $ | 15,558 | $ | 15,558 | $ | 15,558 | |||||||||||
| 15. | TOTAL - OTHER ASSETS | $ | 13,513,629 | $ | 13,246,192 | $ | 13,917,492 | $ | 14,158,827 | |||||||||
| POSTPETITION LIABILITIES | ||||||||||||||||||
| 22. | Accrued Payroll | $ | 67,803 | $ | 58,048 | $ | 62,244 | |||||||||||
| 22. | Accrued Vacation | $ | 87,402 | $ | 89,485 | $ | 86,131 | |||||||||||
| 22. | Accrued 401K | $ | 0 | $ | 4,034 | $ | 3,941 | |||||||||||
| 22. | 401K Loan | $ | 0 | $ | 741 | $ | 730 | |||||||||||
| 22. | Child Support & PR Garnishment | $ | 0 | $ | 152 | $ | 0 | |||||||||||
| 22. | Loan From Maturities (Dkt 1127) | $ | 6,328,486 | |||||||||||||||
| 22. | Deferred Revenue | $ | 5,027,515 | $ | 5,027,515 | $ | 5,027,515 | |||||||||||
| 22 | TOTAL - OTHER POSTPETITION LIABILITIES | $ | 5,182,720 | $ | 5,179,974 | $ | 11,509,046 | |||||||||||
| 1 | Sold pursuant to court order Dkt.1053 |
| 2 | These Abandonment Premiums were collected back from PES in October. |
| Monthly Operating Report |
| ACCRUAL BASIS-2 |
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| INCOME STATEMENT | AUGUST | SEPTEMBER | OCTOBER | NOVEMBER | ||||||||||||||
| REVENUES | ||||||||||||||||||
| 1. | GROSS REVENUES | |||||||||||||||||
| 2. | LESS: RETURNS & DISCOUNTS | |||||||||||||||||
| 3. | NET REVENUE | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||
| COST OF GOODS SOLD | ||||||||||||||||||
| 4. | MATERIAL | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||
| 5. | DIRECT LABOR | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||
| 6. | DIRECT OVERHEAD | $ | 19,450 | $ | 17,060 | $ | 6,784 | $ | 4,278 | |||||||||
| 7. | TOTAL COST OF GOODS SOLD | $ | 19,450 | $ | 17,060 | $ | 6,784 | $ | 4,278 | |||||||||
| 8. | GROSS PROFIT | $ | (19,450 | ) | $ | (17,060 | ) | $ | (6,784 | ) | $ | (4,278 | ) | |||||
| OPERATING EXPENSES | ||||||||||||||||||
| 9. | OFFICER / INSIDER COMPENSATION | $ | 28,794 | $ | 30,165 | $ | 30,165 | $ | 28,794 | |||||||||
| 10. | SELLING & MARKETING | $ | 0 | $ | 0 | $ | 0 | |||||||||||
| 11. | GENERAL & ADMINISTRATIVE | $ | 244,334 | $ | 270,143 | $ | 275,276 | $ | 254,337 | |||||||||
| 12. | RENT & LEASE | $ | 17,098 | $ | 14,178 | $ | 19,571 | $ | 14,940 | |||||||||
| 13. | OTHER (ATTACH LIST) | $ | 38,302 | $ | 8,558 | $ | 26,125 | $ | 23,846 | |||||||||
| 14. | TOTAL OPERATING EXPENSES | $ | 328,529 | $ | 323,044 | $ | 351,138 | $ | 321,916 | |||||||||
| 15. | INCOME BEFORE NON-OPERATING INCOME & EXPENSE | $ | (347,979 | ) | $ | (340,104 | ) | $ | (357,922 | ) | $ | (326,195 | ) | |||||
| OTHER INCOME & EXPENSES | ||||||||||||||||||
| 16. | NON-OPERATING INCOME (ATTACH LIST) | $ | (11,490 | ) | $ | (8,929 | ) | $ | 70,816 | $ | (3,868) | 1 | ||||||
| 17. | NON-OPERATING EXPENSE (ATTACH LIST) | $ | 0 | $ | 0 | $ | 0 | |||||||||||
| 18. | INTEREST EXPENSE | $ | 3 | $ | (3 | ) | $ | 0 | ||||||||||
| 19. | DEPRECIATION / DEPLETION | $ | 6,327 | $ | 6,871 | $ | 6,361 | $ | 6,361 | |||||||||
| 20. | AMORTIZATION | $ | 0 | $ | 0 | $ | 0 | |||||||||||
| 21. | OTHER (ATTACH LIST) | $ | (1,502 | ) | $ | 4,082 | $ | (994 | ) | $ | 0 | |||||||
| 22. | NET OTHER INCOME & EXPENSES | $ | (6,664 | ) | $ | 2,027 | $ | 76,180 | $ | 2,493 | ||||||||
| REORGANIZATION EXPENSES | ||||||||||||||||||
| 23. | PROFESSIONAL FEES | $ | 1,575,668 | $ | 1,832,459 | $ | 2,559,012 | $ | 2,059,640 | |||||||||
| 24. | U.S. TRUSTEE FEES | $ | 2,956 | $ | 7,549 | $ | 6,500 | |||||||||||
| 25. | OTHER (ATTACH LIST) | $ | 126 | $ | 0 | $ | 0 | $ | 0 | |||||||||
| 26. | TOTAL REORGANIZATION EXPENSES | $ | 1,575,794 | $ | 1,835,415 | $ | 2,566,561 | $ | 2,066,140 | |||||||||
| 27. | INCOME TAX | |||||||||||||||||
| 28. | NET PROFIT (LOSS) | $ | (1,917,109 | ) | $ | (2,177,546 | ) | $ | (3,000,664 | ) | $ | (2,394,828 | ) | |||||
| 1 | See supplement to MOR-2. |
| Monthly Operating Report |
| SUPPLEMENT TO |
| ACCRUAL BASIS-2 |
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| INCOME STATEMENT | AUGUST | SEPTEMBER | OCTOBER | NOVEMBER | ||||||||||||||
| OTHER OPERATING EXPENSES | ||||||||||||||||||
| 13. | Bad Debt Expense | |||||||||||||||||
| 13. | Other Expense- Premium Expense | $ | 289 | $ | 8,558 | $ | 20,546 | $ | 12,910 | |||||||||
| 13. | Other Expense- BK Premiums | $ | 5,579 | $ | 10,936 | |||||||||||||
| 13. | Impairment Expense | $ | 38,013 | $ | - | $ | - | $ | - | |||||||||
| 13. | TOTAL - OTHER OPERATING EXPENSE | $ | 38,302 | $ | 8,558 | $ | 26,125 | $ | 23,846 | |||||||||
| NON-OPERATING INCOME | ||||||||||||||||||
| 16. | Interest Income | $ | 11,490 | $ | 3,883 | $ | 3,753 | $ | 3,868 | |||||||||
| 16. | Loss on sale of Ice Age Collection | $ | (156,067 | ) | $ | - | ||||||||||||
| 16. | Life Assets Trust S.A. return | $ | 77,998 | 2 | ||||||||||||||
| 16. | Gain on Sale of Egyptian Replicas | $ | 3,500 | |||||||||||||||
| 16. | Gain on Sale of Assets | $ | 5,000 | 1 | ||||||||||||||
| 16. | Other Income | $ | 46 | $ | - | $ | - | |||||||||||
| 16. | TOTAL NON-OPERATING INCOME | $ | 11,490 | $ | 8,929 | $ | (70,816 | ) | $ | 3,868 | ||||||||
| NON-OPERATING EXPENSE | ||||||||||||||||||
| 17. | $ | - | $ | - | ||||||||||||||
| 17. | ||||||||||||||||||
| 17. | ||||||||||||||||||
| 17. | ||||||||||||||||||
| 17. | ||||||||||||||||||
| 17. | TOTAL NON-OPERATING EXPENSE | $ | - | $ | - | $ | - | $ | - | |||||||||
| OTHER EXPENSE | ||||||||||||||||||
| 21. | Franchise Tax | $ | (1,502 | ) | $ | 4,082 | $ | (994 | ) | $ | - | |||||||
| 21. | State Income Tax-Other | $ | - | $ | - | $ | - | $ | - | |||||||||
| 21. | ||||||||||||||||||
| 21. | ||||||||||||||||||
| 21. | ||||||||||||||||||
| 21. | TOTAL OTHER EXPENSE | $ | (1,502 | ) | $ | 4,082 | $ | (994 | ) | $ | - | |||||||
| OTHER REORGANIZATION EXPENSES | ||||||||||||||||||
| 25. | Transcription Services | $ | 126 | |||||||||||||||
| 25. | ||||||||||||||||||
| 25. | ||||||||||||||||||
| 25. | ||||||||||||||||||
| 25. | ||||||||||||||||||
| 25. | TOTAL OTHER REORGANIZATION EXP | $ | 126 | $ | - | $ | - | $ | - | |||||||||
| 1 | Gain on sale of foxcart equipment sold along with the airport hangar pursuant to court order. |
| 2 | This is Life Partners' portion of the settlement reached between Life Assets Trust S.A.and Portigon Ag, New York Branch, due to the bank foreclosing on the assets of Life Assets Trust SA. Life Partners owned approximately 19.91% of Life Assets Trust S.A. Compartment A. |
| Monthly Operating Report |
| ACCRUAL BASIS-3 |
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| CASH RECEIPTS AND DISBURSEMENTS | QUARTER | OCTOBER | NOVEMBER | DECEMBER | QUARTER | |||||||||||||||||
| 1. | CASH - BEGINNING OF MONTH | $ | 343,712 | $ | 228,831 | $ | 639,322 | |||||||||||||||
| RECEIPTS FROM OPERATIONS | ||||||||||||||||||||||
| 2. | CASH SALES | $ | 0 | $ | 0 | |||||||||||||||||
| COLLECTION OF ACCOUNTS RECEIVABLE | ||||||||||||||||||||||
| 3. | PREPETITION | $ | 161 | $ | 0 | |||||||||||||||||
| 4. | POSTPETITION | $ | 267,147 | $ | 32,926 | $ | 193,847 | $ | 226,773 | |||||||||||||
| 5. | TOTAL OPERATING RECEIPTS | $ | 267,308 | $ | 32,926 | $ | 193,847 | $ | 0 | $ | 226,773 | |||||||||||
| NON-OPERATING RECEIPTS | ||||||||||||||||||||||
| 6. | LOANS & ADVANCES (ATTACH LIST) | $ | 0 | $ | 6,328,486 | $ | 6,328,486 | |||||||||||||||
| 7. | SALE OF ASSETS | $ | 5,000 | $ | 510,383 | $510,383 | 1 | |||||||||||||||
| 8. | OTHER (ATTACH LIST) | $ | 1,899,950 | $ | 344,381 | $ | 9,184 | $ | 353,566 | |||||||||||||
| 9. | TOTAL NON-OPERATING RECEIPTS | $ | 1,904,950 | $ | 854,764 | $ | 6,337,670 | $ | 0 | $ | 7,192,435 | |||||||||||
| 10. | TOTAL RECEIPTS | $ | 2,172,258 | $ | 887,691 | $ | 6,531,517 | $ | 0 | $ | 7,419,207 | |||||||||||
| 11. | TOTAL CASH AVAILABLE | $ | 1,231,403 | $ | 6,760,348 | $ | 639,322 | |||||||||||||||
| OPERATING DISBURSEMENTS | ||||||||||||||||||||||
| 12. | NET PAYROLL | $ | 398,029 | $ | 116,986 | $ | 117,018 | $ | 234,004 | |||||||||||||
| 13. | PAYROLL TAXES PAID | $ | 135,772 | $ | 38,231 | $ | 38,587 | $ | 76,818 | |||||||||||||
| 14. | SALES, USE & OTHER TAXES PAID | $ | 191 | $ | 0 | |||||||||||||||||
| 15. | SECURED / RENTAL / LEASES | $ | 50,082 | $ | 19,756 | $ | 15,288 | $ | 35,045 | |||||||||||||
| 16. | UTILITIES | $ | 46,426 | $ | 11,250 | $ | 9,797 | $ | 21,048 | |||||||||||||
| 17. | INSURANCE | $ | 157,585 | $ | 2,596 | $ | 29,498 | $ | 32,094 | |||||||||||||
| 18. | INVENTORY PURCHASES | $ | 0 | $ | 0 | |||||||||||||||||
| 19. | VEHICLE EXPENSES | $ | 125 | $ | 128 | $ | 95 | $ | 224 | |||||||||||||
| 20. | TRAVEL | $ | 4,983 | $ | 3,471 | $ | 1,160 | $ | 4,631 | |||||||||||||
| 21. | ENTERTAINMENT | $ | 0 | $ | 0 | |||||||||||||||||
| 22. | REPAIRS & MAINTENANCE | $ | 11,699 | $ | 2,666 | $ | 7,695 | $ | 10,361 | |||||||||||||
| 23. | SUPPLIES | $ | 3,891 | $ | 5,099 | $ | 3,256 | $ | 8,355 | |||||||||||||
| 24. | ADVERTISING | $ | 0 | $ | 0 | |||||||||||||||||
| 25. | OTHER (ATTACH LIST) | $ | 902,274 | $ | 779,600 | $ | 518,308 | $ | 1,297,909 | |||||||||||||
| 26. | TOTAL OPERATING DISBURSEMENTS | $ | 1,711,056 | $ | 979,785 | $ | 740,703 | $ | 0 | $ | 1,720,488 | |||||||||||
| REORGANIZATION EXPENSES | ||||||||||||||||||||||
| 27. | PROFESSIONAL FEES | $ | 379,992 | $ | 13,040 | $ | 5,380,323 | $ | 5,393,363 | |||||||||||||
| 28. | U.S. TRUSTEE FEES | $ | 2,603 | $ | 9,747 | $ | 9,747 | |||||||||||||||
| 29. | OTHER (ATTACH LIST) | $ | 126 | $0 | 2 | |||||||||||||||||
| 30. | TOTAL REORGANIZATION EXPENSES | $ | 382,722 | $ | 22,787 | $ | 5,380,323 | $ | 0 | $ | 5,403,110 | |||||||||||
| 31. | TOTAL DISBURSEMENTS | $ | 2,093,778 | $ | 1,002,572 | $ | 6,121,026 | $ | 0 | $ | 7,123,598 | |||||||||||
| 32. | NET CASH FLOW | $ | 78,480 | $ | (114,881 | ) | $ | 410,490 | $ | 0 | $ | 295,609 | ||||||||||
| 33. | CASH - END OF MONTH | $ | 228,831 | $ | 639,322 | $ | 639,322 | |||||||||||||||
| 1 | Proceeds from sale of Ice Age Collection and replicas of Egyptian Artifacts pursuant to court order. |
| 2 | Other Item 29. is transcription services. |
Monthly Operating Report
SUPPLEMENT TO
ACCRUAL BASIS-3
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| CASH RECEIPTS AND DISBURSEMENTS | QUARTER | OCTOBER | NOVEMBER | DECEMBER | QUARTER | |||||||||||||||||
| NON-OPERATING RECEIPTS-LOANS AND ADVANCES | ||||||||||||||||||||||
| 6. | Loan From Maturities (Dkt 1127) | $ | - | $ | 6,328,486 | $ | 6,328,486 | |||||||||||||||
| 6. | $ | - | $ | - | ||||||||||||||||||
| 6. | Total Loans and Advances | $ | - | $ | - | $ | 6,328,486 | $ | - | $ | 6,328,486 | |||||||||||
| NON-OPERATING RECEIPTS-OTHER | ||||||||||||||||||||||
| 8. | A/R Collections-Abandonment Refunds | $ | - | $ | 6,198 | $ | 6,198 | |||||||||||||||
| 8. | Flow Thru Premiums & Platform Fees | $ | 14,627 | $ | 5,372 | $ | 5,289 | $ | 10,661 | |||||||||||||
| 8. | Transfer From LPIFS Checking Acct# 4069 | $ | 1,850,000 | $ | 250,000 | $ | 250,000 | |||||||||||||||
| 8. | Interest Income | $ | 15,378 | $ | 3,747 | $ | 3,864 | $ | 7,611 | |||||||||||||
| 8. | Other Inc-dividends on pd out policies | $ | 87 | $ | - | |||||||||||||||||
| 8. | Other Income-Life Assets Trust S.A. Settlement | $ | - | $ | 77,998 | $ | 77,998 | |||||||||||||||
| 8. | Return of retainer | $ | 15,000 | $ | - | |||||||||||||||||
| 8. | Reimbursements & Refunds-COBRA insurance | $ | 4,386 | $ | 977 | $ | 977 | |||||||||||||||
| 8. | Reimbursements & Refunds-Employee Advance | $ | 20 | $ | 25 | $ | 25 | $ | 50 | |||||||||||||
| 8. | Reimbursements & Refunds-License & Fees | $ | 9 | $ | - | |||||||||||||||||
| 8. | Reimbursements & Refunds-Travel | $ | 406 | $ | - | |||||||||||||||||
| 8. | Reimbursements & Refunds-Utilities | $ | 30 | $ | 5 | $ | 35 | |||||||||||||||
| 8. | Reimbursements & Refunds-Other | $ | 37 | $ | 35 | $ | 35 | |||||||||||||||
| 8. | Total Other Non-Operating Receipts | $ | 1,899,950 | $ | 344,381 | $ | 9,184 | $ | - | $ | 353,566 | |||||||||||
| OTHER OPERATING DISBURSEMENTS | ||||||||||||||||||||||
| 25. | Premiums Advanced | $ | 586,629 | $ | 715,090 | $ | 448,091 | $ | 1,163,182 | |||||||||||||
| 25. | Premiums-LPI Owned positions | $ | 25,703 | $ | - | |||||||||||||||||
| 25. | Bank Fees (Charged & Reversed) | $ | 1,565 | $ | 590 | $ | 606 | $ | 1,196 | |||||||||||||
| 25. | BK Premiums | $ | 941 | $ | 5,579 | $ | 10,936 | $ | 16,515 | |||||||||||||
| 25. | Courier Services | $ | 6,497 | $ | 3,171 | $ | 1,740 | $ | 4,911 | |||||||||||||
| 25. | Employee Relations | $ | 200 | $ | 200 | |||||||||||||||||
| 25. | Flow Thru Premiums | $ | 28,729 | $ | 9,287 | $ | 5,289 | $ | 14,577 | |||||||||||||
| 25. | Licenses & Fees | $ | 1,034 | $ | 1,894 | $ | 2,103 | $ | 3,997 | |||||||||||||
| 25. | Medical Records | $ | 337 | $ | 1,300 | $ | 1,300 | |||||||||||||||
| 25. | Medical Review Life Expectancy | $ | 700 | $ | - | |||||||||||||||||
| 25. | Outside Services | $ | 6,373 | $ | 1,669 | $ | 1,547 | $ | 3,217 | |||||||||||||
| 25. | Payroll Garnishment | $ | 1,063 | $ | 304 | $ | 304 | $ | 607 | |||||||||||||
| 25. | Payroll-401K deductions | $ | 32,498 | $ | 9,464 | $ | 9,506 | $ | 18,970 | |||||||||||||
| 25. | PES Operating Exp | $ | 99,261 | $ | 30,765 | $ | 30,765 | |||||||||||||||
| 25. | Software Licenses & Support | $ | 9,649 | $ | 4,080 | $ | 564 | $ | 4,644 | |||||||||||||
| 25. | Policy Administration Expense | $ | 29,083 | $ | 20,135 | $ | 4,712 | $ | 24,847 | |||||||||||||
| 25. | Refund Duplicate Payments | $ | 845 | $ | 845 | |||||||||||||||||
| 25. | Subscriptions | $ | 6,274 | $ | 507 | $ | 288 | $ | 795 | |||||||||||||
| 25. | Trust Fees/Cost Reimbursement | $ | 64,618 | $ | 6,784 | $ | 532 | $ | 7,316 | |||||||||||||
| 25. | Employee Loan & Advances | $ | 1,320 | $ | 25 | $ | 25 | |||||||||||||||
| 25. | Total - Other Operating Disbursements | $ | 902,274 | $ | 779,600 | $ | 518,308 | $ | - | $ | 1,297,909 | |||||||||||
| OTHER REORGANIZATION EXPENSES | ||||||||||||||||||||||
| 29. | Transcription Services | $ | 126 | $ | - | |||||||||||||||||
| 29. | $ | - | ||||||||||||||||||||
| 29. | $ | - | $ | - | ||||||||||||||||||
| 29. | Total - Other Reorganization Expenses | $ | 126 | $ | - | $ | - | $ | - | $ | - | |||||||||||
Monthly Operating Report
ACCRUAL BASIS-4
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| ACCOUNTS RECEIVABLE AGING | SCHEDULE AMOUNT | SEPTEMBER | OCTOBER | NOVEMBER | ||||||||||||||
| 1. | 0-30 | $ | 139,890 | $ | 32,834 | $ | 669,205 | $ | 241,905 | |||||||||
| 2. | 31-60 | $ | 279,914 | $ | 11,534 | $ | 37,952 | $ | 669,196 | |||||||||
| 3. | 61-90 | $ | 77,762 | $ | 195,541 | $ | 6,472 | $ | 37,052 | |||||||||
| 4. | 91+ | $ | 12,721,787 | $ | 13,402,278 | $ | 13,590,176 | $ | 13,596,987 | |||||||||
| 5. | TOTAL ACCOUNTS RECEIVABLE | $ | 13,219,353 | $ | 13,642,187 | $ | 14,303,805 | $ | 14,545,140 | 1 | ||||||||
| 6. | AMOUNT CONSIDERED UNCOLLECTIBLE | $ | 5,163,790 | $ | 5,483,317 | $ | 5,483,317 | $ | 5,483,317 | 1 | ||||||||
| 7. | ACCOUNTS RECEIVABLE (NET) | $ | 8,055,563 | $ | 8,158,870 | $ | 8,820,488 | $ | 9,061,823 | 1 | ||||||||
| AGING OF POSTPETITION TAXES AND PAYABLES | MONTH: | November 2015 | ||||||||||||||||||||
| 0-30 | 31-60 | 61-90 | 91+ | |||||||||||||||||||
| TAXES PAYABLE | DAYS | DAYS | DAYS | DAYS | TOTAL | |||||||||||||||||
| 1. | FEDERAL | $ | 17,533 | $ | 17,533 | |||||||||||||||||
| 2. | STATE | $ | 101 | $ | 101 | |||||||||||||||||
| 3. | LOCAL | $ | 69,092 | $ | 69,092 | |||||||||||||||||
| 4. | OTHER (ATTACH LIST) | $ | 0 | |||||||||||||||||||
| 5. | TOTAL TAXES PAYABLE | $ | 86,726 | $ | 0 | $ | 0 | $ | 0 | $ | 86,726 | |||||||||||
| 6. | ACCOUNTS PAYABLE | $ | 60,293 | $ | 824,732 | $ | 19,398 | $ | 64,999 | $ | 969,423 | |||||||||||
| STATUS OF POSTPETITION TAXES | MONTH: | November 2015 | ||||||||||||||||
| BEGINNING | AMOUNT | ENDING | ||||||||||||||||
| TAX | WITHHELD AND/ | AMOUNT | TAX | |||||||||||||||
| FEDERAL | LIABILITY | 0R ACCRUED | PAID | LIABILITY | ||||||||||||||
| 1. | WITHHOLDING | $ | 9,024 | $ | 17,795 | $ | 18,398 | $ | 8,421 | |||||||||
| 2. | FICA-EMPLOYEE | $ | 4,916 | $ | 9,576 | $ | 9,937 | $ | 4,556 | |||||||||
| 3. | FICA-EMPLOYER | $ | 4,916 | $ | 9,576 | $ | 9,937 | $ | 4,556 | |||||||||
| 4. | UNEMPLOYMENT | $ | 0 | $ | 22 | $ | 22 | $ | 0 | |||||||||
| 5. | INCOME | $ | 0 | $ | 0 | |||||||||||||
| 6. | OTHER (ATTACH LIST) | $ | 0 | $ | 0 | |||||||||||||
| 7. | TOTAL FEDERAL TAXES | $ | 18,857 | $ | 36,970 | $ | 38,294 | $ | 17,533 | |||||||||
| STATE AND LOCAL | ||||||||||||||||||
| 8. | WITHHOLDING | $ | 0 | |||||||||||||||
| 9. | SALES | $ | 0 | |||||||||||||||
| 10. | EXCISE | $ | 0 | |||||||||||||||
| 11. | UNEMPLOYMENT | $ | 150 | $ | 244 | $ | 293 | $ | 101 | |||||||||
| 12. | REAL PROPERTY | $ | 0 | $ | 0 | |||||||||||||
| 13. | PERSONAL PROPERTY | $ | 62,268 | $ | 6,824 | $ | 69,092 | 2 | ||||||||||
| 14. | OTHER (ATTACH LIST) | $ | 9,179 | $ | 9,179 | $ | 0 | 3 | ||||||||||
| 15. | TOTAL STATE & LOCAL | $ | 71,597 | $ | 7,068 | $ | 9,472 | $ | 69,193 | |||||||||
| 16. | TOTAL TAXES | $ | 90,454 | $ | 44,038 | $ | 47,766 | $ | 86,726 | |||||||||
| 1 | These amounts are reported in detail on SUPPLEMENT TO MOR-1 under Item 15. Other Assets. |
| 2 | The figures shown here do not include $5975.51 accrued for the prepetition period of Jan. 1, 2015 thru May 19, 2015 and include an adjustment to the calendar year 2015 tax accrual resulting from the taxing authority changing the valuation of the aircraft held on 1/1/15. |
| 3 | Item 14. Other is accrual of Texas Franchise Tax and has been moved to LPHI books. |
| Monthly Operating Report |
| ACCRUAL BASIS-5 |
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH: | November 2015 | |||||||||||||||||
| BANK RECONCILIATIONS | ||||||||||||||||||
| Account #1 | Account #2 | Account #3 | ||||||||||||||||
| A. | BANK: | Bank of Texas | Bank of Texas | |||||||||||||||
| B. | ACCOUNT NUMBER: | 4080 | 4091 | TOTAL | ||||||||||||||
| C. | PURPOSE (TYPE): | Checking | Checking | |||||||||||||||
| 1. | BALANCE PER BANK STATEMENT | $ | 274,344 | $ | 367,730 | $ | 642,074 | |||||||||||
| 2. | ADD: TOTAL DEPOSITS NOT CREDITED | $ | 0 | |||||||||||||||
| 3. | SUBTRACT: OUTSTANDING CHECKS | $ | 6,795 | $ | 6,795 | |||||||||||||
| 4. | OTHER RECONCILING ITEMS | $ | 0 | |||||||||||||||
| 5. | MONTH END BALANCE PER BOOKS | $ | 267,549 | $ | 367,730 | $ | 0 | $ | 635,279 | |||||||||
| 6. | NUMBER OF LAST CHECK WRITTEN | 1448 | 1016 | |||||||||||||||
INVESTMENT ACCOUNTS
| DATE OF | TYPE OF | PURCHASE | CURRENT | |||||||||||||
| BANK, ACCOUNT NAME & NUMBER | PURCHASE | INSTRUMENT | PRICE | VALUE | ||||||||||||
| 7. | TD Bank, Life Partners, Inc. Acct 70-T202-01-2 | unknown | MoneyMarket | $ | 7 | |||||||||||
| 8. | ||||||||||||||||
| 9. | ||||||||||||||||
| 10. | ||||||||||||||||
| 11. | TOTAL INVESTMENTS | $ | 0 | $ | 7 | |||||||||||
| CASH | ||||||||||||||||
| 12. | CURRENCY ON HAND | $ | 4,035.74 | 1 | ||||||||||||
| 13. | TOTAL CASH - END OF MONTH | $ | 639,322 | |||||||||||||
| 1 Item 12. Currency On Hand includes: | Petty Cash | $ | 1,000.00 | |||||||||||||
| PayPal | $ | 1,348.17 | ||||||||||||||
| Prepaid Visa | $ | 1,687.57 | ||||||||||||||
| Monthly Operating Report |
| ACCRUAL BASIS-6 |
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH: | November 2015 |
| PAYMENTS TO INSIDERS AND PROFESSIONALS | ||||||||||||
| INSIDERS | ||||||||||||
| TYPE OF | AMOUNT | TOTAL PAID | ||||||||||
| NAME | PAYMENT | PAID | TO DATE | |||||||||
| 1. | Mark Embry | Salaries/Expense Reimbursement | $ | 13,462 | $ | 74,917 | ||||||
| 2. | Advance Trust & Life Es | Premium Remittance/Cost Reimb | $ | 42,533 | $ | 312,494 | ||||||
| 3. | Life Partners Holdings, Inc. | Rent & Return deposit in error | $ | 1,667 | $ | 113,565 | ||||||
| 4. | LPI Financial Services, Inc. | Forward Platform Fees | $ | 99 | $ | 2,037 | ||||||
| 5. | Purchase Escrow Services, LLC | Premium Remittance/Cost Reimb | $ | 440,586 | $ | 2,218,967 | ||||||
| 6. | Colette Pieper | Salaries/Expense Reimbursement | $ | 13,962 | $ | 79,945 | ||||||
| 7. | Debora J. Carr | Salaries/Expense Reimbursement | $ | 3,750 | $ | 20,625 | ||||||
| 8. | TOTAL PAYMENTS TO INSIDERS | $ | 516,058 | $ | 2,822,550 | |||||||
| PROFESSIONALS | 2 | |||||||||||||||||||
| DATE OF COURT | TOTAL | |||||||||||||||||||
| ORDER AUTHORIZING | AMOUNT | AMOUNT | TOTAL PAID | INCURRED | ||||||||||||||||
| NAME | PAYMENT | APPROVED | PAID | TO DATE | & UNPAID | |||||||||||||||
| 1. | Asset Servicing Group | 10/29/15 | $ | 344,134 | $ | 344,134 | $ | 344,134 | $ | 502,572 | ||||||||||
| 2. | Bridgepoint Consulting | 10/29/15 | $ | 70,372 | $ | 70,372 | $ | 70,372 | $ | 665,552 | ||||||||||
| 3. | Epiq Bankruptcy Solutions | 05/22/15 | $ | 2,318,973 | $ | 1,532,306 | $ | 2,091,079 | $ | 227,894 | ||||||||||
| 4. | Kim Hinkle, Attorney at Law | 10/29/15 | $ | 80,408 | $ | 80,408 | $ | 80,408 | $ | 128,516 | ||||||||||
| 5. | MMS Advisors | $ | 217,600 | 3 | ||||||||||||||||
| 6. | Munsch, Hardt, Kopf & Harr,P.C. | 10/29/15 | $ | 597,453 | $ | 597,453 | $ | 597,453 | $ | 1,161,836 | ||||||||||
| 7. | Thompson & Knight LLP | 10/29/15 | $ | 2,470,095 | $ | 2,466,661 | $ | 2,470,095 | $ | 6,714,050 | ||||||||||
| 8. | Tom Moran, US Trustee | $ | 6,588 | $ | 16,220 | $ | 397,750 | |||||||||||||
| 9. | Phillips Murrah | 10/29/15 | $ | 82,045 | $ | 82,045 | $ | 82,045 | $ | 63,202 | ||||||||||
| 10. | Smith, Jackson, Boyer & Brovard, PLLC | 10/29/15 | $ | 7,463 | $ | 7,463 | $ | 7,463 | $ | 52,552 | ||||||||||
| 11. | Predictive Resources | $ | 113,867 | |||||||||||||||||
| 12. | D3G/Lewis & Ellis | $ | 111,140 | |||||||||||||||||
| 13. | Barbara Pope | $ | 26,706 | |||||||||||||||||
| 14. | TOTAL PAYMENTS TO PROFESSIONALS | $ | 5,187,429 | $ | 5,759,269 | $ | 10,383,236 | |||||||||||||
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
| SCHEDULED | AMOUNTS | |||||||||||||
| MONTHLY | PAID | TOTAL | ||||||||||||
| PAYMENTS | DURING | UNPAID | ||||||||||||
| NAME OF CREDITOR | DUE | MONTH | POSTPETITION | |||||||||||
| 1. | Pitney Bowes Global Financial Services, LLC | $ | 5,423 | $ | 0 | $ | 0 | 1 | ||||||
| 2. | Pitney Bowes Global Financial Services, LLC | $ | 906 | $ | 906 | $ | 0 | 1 | ||||||
| 3. | Johnnies Office Systems, Inc. | $ | 1,055 | $ | 1,055 | $ | 0 | |||||||
| 4. | Great America Financial Services | $ | 2,939 | $ | 2,939 | $ | 0 | |||||||
| 5. | Life Partners Holdings, Inc. | $ | 10,000 | $ | 1,667 | $ | 0 | 4 | ||||||
| 6. | PJC Investments, LLC | $ | 10,000 | $ | 8,219 | $ | 0 | 4 | ||||||
| 7. | TOTAL | $ | 30,323 | $ | 14,785 | $ | 0 | |||||||
| 1 | These lease payments are quarterly, not monthly. |
| 2 | Professional fees and expenses estimated and accrued prior to May 19th are reflected only on the books of Life Partners Holdings, Inc. Thereafter, professional fees and expenses reflect the estimated aggregate, unallocated fees and expenses for all of the Debtors, and are noted on each of the Debtors MORs. |
| 3 | MMS Advisors incurred fees and expenses March 13th - May 18th in the estimated amount of $230,000.00 that are not included here since their retention has not been approved for this period of time. |
| 4 | These are partial month lease payments due to the sale of the buildings. |
| Monthly Operating Report |
| ACCRUAL BASIS-7 |
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH: | November 2015 | |||
| QUESTIONNAIRE | ||||
| YES | NO | |||
| 1. | HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? | X | ||
| 2. | HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? | X | ||
| 3. | ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? | X | ||
| 4. | HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? | X | ||
| 5. | HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? | X | ||
| 6. | ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? | X | ||
| 7. | ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? | X | ||
| 8. | ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? | X | ||
| 9. | ARE ANY OTHER POSTPETITION TAXES PAST DUE? | X | ||
| 10. | ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? | X | ||
| 11. | HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? | X | ||
| 12. | ARE ANY WAGE PAYMENTS PAST DUE? | X | ||
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES," PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
Questionnaire Item 1. The Ice Age Collection and Egyption Replicas were sold pursuant to court order (Docket 1053).
Questionnaire Item 5. Loans were recevied from maturities of Life Settlements per docket 1127 related to financing.
Questionnaire Item 10. Past due amounts are mainly professional fees incurred after the filing date.
INSURANCE
| YES | NO | |||
| 1. | ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? | X | ||
| 2. | ARE ALL PREMIUM PAYMENTS PAID CURRENT? | X | ||
| 3. | PLEASE ITEMIZE POLICIES BELOW. |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO," OR IF ANY POLICIES HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
| INSTALLMENT PAYMENTS |
| TYPE OF | PAYMENT AMOUNT | ||||||
| POLICY | CARRIER | PERIOD COVERED | & FREQUENCY | ||||
| Workers Compensation | Service Lloyds Ins. Co. | 06/14/2015- 06/14/2016 | $ | 316.00 /month | |||
Exhibit 99.3
| Monthly Operating Report | |
| ACCRUAL BASIS |
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| JUDGE: | Russell Nelms |
UNITED STATES BANKRUPTCY COURT
NORTHERN & EASTERN DISTRICTS OF TEXAS
REGION 6
MONTHLY OPERATING REPORT
| MONTH ENDING: | November | 2015 | ||
| MONTH | YEAR |
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT, AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
RESPONSIBLE PARTY:
| /s/ H. Thomas Moran II | Trustee | |
| ORIGINAL SIGNATURE OF RESPONSIBLE PARTY | TITLE | |
| H. Thomas Moran II | 12/21/2015 | |
| PRINTED NAME OF RESPONSIBLE PARTY | DATE | |
| PREPARER: | ||
| /s/ Colette Pieper | CEO | |
| ORIGINAL SIGNATURE OF PREPARER | TITLE | |
| Colette Pieper | 12/21/2015 | |
| PRINTED NAME OF PREPARER | DATE |
Monthly Operating Report
ACCRUAL BASIS-1
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
COMPARATIVE BALANCE SHEET
| SCHEDULE AMOUNT | MONTH September 30, 2015 | MONTH October 31, 2015 | MONTH November 30, 2015 | |||||||||||||||||
| ASSETS | ||||||||||||||||||||
| 1. | UNRESTRICTED CASH | $ | 1,744,873 | $ | 1,090,944 | $ | 1,028,203 | $ | 1,083,015 | |||||||||||
| 2. | RESTRICTED CASH | |||||||||||||||||||
| 3. | TOTAL CASH | $ | 1,744,873 | $ | 1,090,944 | $ | 1,028,203 | $ | 1,083,015 | |||||||||||
| 4. | ACCOUNTS RECEIVABLE (NET) | $ | 2,741,107 | 2 | ||||||||||||||||
| 5. | INVENTORY | |||||||||||||||||||
| 6. | NOTES RECEIVABLE | |||||||||||||||||||
| 7. | PREPAID EXPENSES | |||||||||||||||||||
| 8. | OTHER (ATTACH LIST) | $ | 1,906 | $ | 44 | $ | 0 | |||||||||||||
| 9. | TOTAL CURRENT ASSETS | $ | 4,485,981 | $ | 1,092,849 | $ | 1,028,247 | $ | 1,083,015 | |||||||||||
| 10. | PROPERTY, PLANT & EQUIPMENT | |||||||||||||||||||
| 11. | LESS: ACCUMULATED DEPRECIATION/DEPLETION | |||||||||||||||||||
| 12. | NET PROPERTY, PLANT & EQUIPMENT | $ | 0 | $ | 0 | $ | 0 | |||||||||||||
| 13. | DUE FROM INSIDERS | $ | 4,157,912 | 1 | ||||||||||||||||
| 14. | OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) | |||||||||||||||||||
| 15. | OTHER (ATTACH LIST) | |||||||||||||||||||
| 16. | TOTAL ASSETS | $ | 8,643,892 | $ | 1,092,849 | $ | 1,028,247 | $ | 1,083,015 | |||||||||||
| POSTPETITION LIABILITIES | ||||||||||||||||||||
| 17. | ACCOUNTS PAYABLE | $ | 1,906 | $ | 0 | $ | 1,288 | |||||||||||||
| 18. | TAXES PAYABLE | |||||||||||||||||||
| 19. | NOTES PAYABLE | |||||||||||||||||||
| 20. | PROFESSIONAL FEES | $ | 227,757 | $ | 298,041 | $ | 328,481 | |||||||||||||
| 21. | SECURED DEBT | |||||||||||||||||||
| 22. | OTHER (ATTACH LIST) | $ | 650 | $ | 325 | $ | 5,138 | |||||||||||||
| 23. | TOTAL POSTPETITION LIABILITIES | $ | 230,313 | $ | 298,366 | $ | 334,907 | |||||||||||||
| PREPETITION LIABILITIES | ||||||||||||||||||||
| 24. | SECURED DEBT | |||||||||||||||||||
| 25. | PRIORITY DEBT | unknown | ||||||||||||||||||
| 26. | UNSECURED DEBT | $ | 9,001 | $ | 1,062 | $ | 1,062 | $ | 1,062 | |||||||||||
| 27. | OTHER (ATTACH LIST) | |||||||||||||||||||
| 28. | TOTAL PREPETITION LIABILITIES | $ | 9,001 | $ | 1,062 | $ | 1,062 | $ | 1,062 | |||||||||||
| 29. | TOTAL LIABILITIES | $ | 9,001 | $ | 231,375 | $ | 299,428 | $ | 335,968 | |||||||||||
| EQUITY | ||||||||||||||||||||
| 30. | PREPETITION OWNERS' EQUITY | $ | 5,901,723 | $ | 5,901,723 | $ | 5,901,723 | |||||||||||||
| 31. | POSTPETITION CUMULATIVE PROFIT OR (LOSS) | $ | 1,436,474 | $ | 1,553,373 | $ | 1,451,203 | |||||||||||||
| 32. | DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) | $ | (6,476,722 | ) | $ | (6,726,278 | ) | $ | (6,605,880 | ) | 1 | |||||||||
| 33. | TOTAL EQUITY | $ | 861,475 | $ | 728,819 | $ | 747,046 | |||||||||||||
| 34. | TOTAL LIABILITIES & OWNERS' EQUITY | $ | 1,092,849 | $ | 1,028,247 | $ | 1,083,015 | |||||||||||||
| 1 | This is Intercompany Due From Life Partners, Inc. reported on Schedule B Item 16 and shown above under Item 13. Due From Insiders. |
| 2 | The Debtor LPIFS records receipts on a cash basis and accordingly, does not carry receivable balances. The Schedules note a receivable balance as if receipts were recorded on an accrual basis as of the petition date. |
Monthly Operating Report
SUPPLEMENT TO
ACCRUAL BASIS-1
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
COMPARATIVE BALANCE SHEET
| SCHEDULE AMOUNT | MONTH September 30, 2015 | MONTH October 31, 2015 | MONTH November 30, 2015 | |||||||||||||||
| CURRENT ASSETS | ||||||||||||||||||
| 8. | PREMIUMS BEING FORWARDED | $ | 1,906 | $ | 44 | |||||||||||||
| 8 | TOTAL OTHER CURRENT ASSETS | $ | 1,906 | $ | 44 | $ | 0 | |||||||||||
| POSTPETITION LIABILITIES | ||||||||||||||||||
| 22. | US TRUSTEE FEES | $ | 650 | $ | 325 | $ | 5,138 | |||||||||||
| 22 | TOTAL OTHER POSTPETITION LIABILITIES | $ | 650 | $ | 325 | $ | 5,138 | |||||||||||
Monthly Operating Report
ACCRUAL BASIS-2
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| INCOME STATEMENT | AUGUST | SEPTEMBER | OCTOBER | NOVEMBER | ||||||||||||||
| REVENUES | ||||||||||||||||||
| 1. | GROSS REVENUES | $ | 52,937 | $ | 1,032,009 | $ | 214,446 | $ | 53,944 | |||||||||
| 2. | LESS: RETURNS & DISCOUNTS | |||||||||||||||||
| 3. | NET REVENUE | $ | 52,937 | $ | 1,032,009 | $ | 214,446 | $ | 53,944 | |||||||||
| COST OF GOODS SOLD | ||||||||||||||||||
| 4. | MATERIAL | |||||||||||||||||
| 5. | DIRECT LABOR | |||||||||||||||||
| 6. | DIRECT OVERHEAD | |||||||||||||||||
| 7. | TOTAL COST OF GOODS SOLD | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||
| 8. | GROSS PROFIT | $ | 52,937 | $ | 1,032,009 | $ | 214,446 | $ | 53,944 | |||||||||
| OPERATING EXPENSES | ||||||||||||||||||
| 9. | OFFICER / INSIDER COMPENSATION | |||||||||||||||||
| 10. | SELLING & MARKETING | |||||||||||||||||
| 11. | GENERAL & ADMINISTRATIVE | $ | 24,543 | $ | 375 | $ | 26,817 | $ | 464 | |||||||||
| 12. | RENT & LEASE | |||||||||||||||||
| 13. | OTHER (ATTACH LIST) | |||||||||||||||||
| 14. | TOTAL OPERATING EXPENSES | $ | 24,543 | $ | 375 | $ | 26,817 | $ | 464 | |||||||||
| 15. | INCOME BEFORE NON-OPERATING INCOME & EXPENSE | $ | 28,393 | $ | 1,031,634 | $ | 187,628 | $ | 53,480 | |||||||||
| OTHER INCOME & EXPENSES | ||||||||||||||||||
| 16. | NON-OPERATING INCOME (ATTACH LIST) | |||||||||||||||||
| 17. | NON-OPERATING EXPENSE (ATTACH LIST) | |||||||||||||||||
| 18. | INTEREST EXPENSE | |||||||||||||||||
| 19. | DEPRECIATION / DEPLETION | |||||||||||||||||
| 20. | AMORTIZATION | |||||||||||||||||
| 21. | OTHER (ATTACH LIST) | |||||||||||||||||
| 22. | NET OTHER INCOME & EXPENSES | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||
| REORGANIZATION EXPENSES | ||||||||||||||||||
| 23. | PROFESSIONAL FEES | $ | 194,009 | $ | 98,376 | $ | 65,916 | $ | 155,650 | |||||||||
| 24. | U.S. TRUSTEE FEES | $ | 0 | $ | 4,813 | |||||||||||||
| 25. | OTHER (ATTACH LIST) | $ | 0 | $ | 0 | |||||||||||||
| 26. | TOTAL REORGANIZATION EXPENSES | $ | 194,009 | $ | 98,376 | $ | 70,729 | $ | 155,650 | |||||||||
| 27. | INCOME TAX | |||||||||||||||||
| 28. | NET PROFIT (LOSS) | $ | (165,616 | ) | $ | 933,258 | $ | 116,900 | $ | (102,170 | ) | |||||||
Monthly Operating Report
ACCRUAL BASIS-3
|
CASE NAME: |
LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH | MONTH | MONTH | ||||||||||||||||||||||
| CASH RECEIPTS AND DISBURSEMENTS | September 30, 2015 | QUARTER | October 31, 2015 | November 30, 2015 | QUARTER | |||||||||||||||||||
| 1. | CASH - BEGINNING OF MONTH | $ | 694,146 | $ | 1,090,944 | $ | 1,028,203 | |||||||||||||||||
| RECEIPTS FROM OPERATIONS | ||||||||||||||||||||||||
| 2. | CASH SALES | $ | 1,032,009 | $ | 1,128,821 | $ | 216,308 | $ | 53,988 | $ | 270,295 | |||||||||||||
| COLLECTION OF ACCOUNTS RECEIVABLE | ||||||||||||||||||||||||
| 3. | PREPETITION | $ | 0 | $ | 0 | |||||||||||||||||||
| 4. | POSTPETITION | $ | 0 | $ | 0 | |||||||||||||||||||
| 5. | TOTAL OPERATING RECEIPTS | $ | 1,032,009 | $ | 1,128,821 | $ | 216,308 | $ | 53,988 | $ | 270,295 | |||||||||||||
| NON-OPERATING RECEIPTS | ||||||||||||||||||||||||
| 6. | LOANS & ADVANCES (ATTACH LIST) | $ | 0 | $ | 0 | |||||||||||||||||||
| 7. | SALE OF ASSETS | $ | 0 | $ | 0 | |||||||||||||||||||
| 8. | OTHER (ATTACH LIST) | $ | 55,451 | $ | 55,451 | $ | 8,632 | $ | 3,101 | $ | 11,732 | |||||||||||||
| 9. | TOTAL NON-OPERATING RECEIPTS | $ | 55,451 | $ | 55,451 | $ | 8,632 | $ | 3,101 | $ | 11,732 | |||||||||||||
| 10. | TOTAL RECEIPTS | $ | 1,087,460 | $ | 1,184,272 | $ | 224,939 | $ | 57,088 | $ | 282,028 | |||||||||||||
| 11. | TOTAL CASH AVAILABLE | $ | 1,781,605 | $ | 1,315,883 | $ | 1,085,291 | |||||||||||||||||
| OPERATING DISBURSEMENTS | ||||||||||||||||||||||||
| 12. | NET PAYROLL | $ | 0 | $ | 0 | |||||||||||||||||||
| 13. | PAYROLL TAXES PAID | $ | 0 | $ | 0 | |||||||||||||||||||
| 14. | SALES, USE & OTHER TAXES PAID | $ | 0 | $ | 0 | |||||||||||||||||||
| 15. | SECURED / RENTAL / LEASES | $ | 0 | $ | 0 | |||||||||||||||||||
| 16. | UTILITIES | $ | 0 | $ | 0 | |||||||||||||||||||
| 17. | INSURANCE | $ | 95,216 | $ | 95,216 | $ | 0 | |||||||||||||||||
| 18. | INVENTORY PURCHASES | $ | 0 | $ | 0 | |||||||||||||||||||
| 19. | VEHICLE EXPENSES | $ | 0 | $ | 0 | |||||||||||||||||||
| 20. | TRAVEL | $ | 0 | $ | 0 | |||||||||||||||||||
| 21. | ENTERTAINMENT | $ | 0 | $ | 0 | |||||||||||||||||||
| 22. | REPAIRS & MAINTENANCE | $ | 0 | $ | 0 | |||||||||||||||||||
| 23. | SUPPLIES | $ | 4,786 | $ | 26,972 | $ | 25,513 | $ | 25,513 | 1 | ||||||||||||||
| 24. | ADVERTISING | $ | 0 | $ | 0 | |||||||||||||||||||
| 25. | OTHER (ATTACH LIST) | $ | 405,879 | $ | 1,908,159 | $ | 261,842 | $ | 2,276 | $ | 264,118 | |||||||||||||
| 26. | TOTAL OPERATING DISBURSEMENTS | $ | 505,881 | $ | 2,030,347 | $ | 287,355 | $ | 2,276 | $ | 289,632 | |||||||||||||
| REORGANIZATION EXPENSES | ||||||||||||||||||||||||
| 27. | PROFESSIONAL FEES | $ | 184,781 | $ | 184,781 | $ | 0 | |||||||||||||||||
| 28. | U.S. TRUSTEE FEES | $ | 325 | $ | 325 | $ | 325 | |||||||||||||||||
| 29. | OTHER (ATTACH LIST) | $ | 0 | $ | 0 | |||||||||||||||||||
| 30. | TOTAL REORGANIZATION EXPENSES | $ | 184,781 | $ | 185,106 | $ | 325 | $ | 0 | $ | 325 | |||||||||||||
| 31. | TOTAL DISBURSEMENTS | $ | 690,662 | $ | 2,215,452 | $ | 287,680 | $ | 2,276 | $ | 289,957 | 2 | ||||||||||||
| 32. | NET CASH FLOW | $ | 396,798 | $ | (1,031,181 | ) | $ | (62,741 | ) | $ | 54,812 | $ | (7,929 | ) | ||||||||||
| 33. | CASH - END OF MONTH | $ | 1,090,944 | $ | 1,028,203 | $ | 1,083,015 | |||||||||||||||||
| 1 | Item 23. Supplies includes $25,000 of postage. |
| 2 | Total Disbursements includes the following amounts that are NOT disbursements, but are transfers of funds between bank accounts (from LPI Financial Services account to Life Partners, Inc. account) for the periods shown below. |
| September 30, 2015 | $ | 350,000.00 | ||
| October 31, 2015 | $ | 254,686.04 | ||
| November 30, 2015 | $ | - |
| Monthly Operating Report | |
| SUPPLEMENT TO | |
| ACCRUAL BASIS-3 |
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH | MONTH | MONTH | ||||||||||||||||||||
| CASH RECEIPTS AND DISBURSEMENTS | September 30, 2015 | QUARTER | October 31, 2015 | November 30, 2015 | QUARTER | |||||||||||||||||
| NON-OPERATING RECEIPTS (OTHER) | ||||||||||||||||||||||
| 8. | DIVIDENDS FORWARD TO LPI | $ | 0 | $ | 0 | |||||||||||||||||
| 8. | FLOW THRU PREMIUMS | $ | 55,451 | $ | 55,451 | $ | 3,946 | $ | 3,101 | $ | 7,046 | |||||||||||
| 8. | PREMIUMS RETURNED | $ | 0 | $ | 0 | |||||||||||||||||
| 8. | SPOILED POSTAGE REFUND | $ | 0 | $ | 0 | |||||||||||||||||
| 8. | RECEIPTS TO BE FORWARDED TO LPI | $ | 0 | $ | 4,686 | $ | 4,686 | |||||||||||||||
| 9. | TOTAL NON-OPERATING RECEIPTS | $ | 55,451 | $ | 55,451 | $ | 8,632 | $ | 3,101 | $ | 11,732 | |||||||||||
| OPERATING DISBURSEMENTS | ||||||||||||||||||||||
| 25. | BANK FEES | $ | 365 | $ | 1,131 | $ | 1,294 | $ | 454 | $ | 1,748 | |||||||||||
| 25. | CREDIT CARD PROCESSING FEES | $ | 10 | $ | 30 | $ | 10 | $ | 10 | $ | 20 | |||||||||||
| 25. | DIVIDENDS FORWARD TO LPI | $ | 0 | $ | 0 | |||||||||||||||||
| 25. | FLOW THRU PREMIUMS | $ | 55,451 | $ | 56,890 | $ | 5,852 | $ | 1,813 | $ | 7,664 | |||||||||||
| 25. | PREMIUMS RETURNED | $ | 0 | $ | 0 | |||||||||||||||||
| 25. | TRANSFER TO LPI | $ | 350,000 | $ | 1,850,000 | $ | 254,686 | $ | 254,686 | |||||||||||||
| 25. | TRANSFER TO LPI BANK ACCOUNT | $ | 0 | $ | 0 | |||||||||||||||||
| 25. | LICENSES & FEES | $ | 54 | $ | 108 | $ | 0 | |||||||||||||||
| 26. | TOTAL OPERATING DISBURSEMENTS (OTHER) | $ | 405,879 | $ | 1,908,159 | $ | 261,842 | $ | 2,276 | $ | 264,118 | |||||||||||
| 6 |
| Monthly Operating Report | |
| ACCRUAL BASIS-4 |
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| ACCOUNTS RECEIVABLE AGING | SCHEDULE AMOUNT | MONTH September 30, 2015 | MONTH October 31, 2015 | MONTH November 30, 2015 | ||||||||||||||
| 1. | 0-30 | |||||||||||||||||
| 2. | 31-60 | $ | 803,662 | |||||||||||||||
| 3. | 61-90 | |||||||||||||||||
| 4. | 91+ | $ | 1,937,445 | |||||||||||||||
| 5. | TOTAL ACCOUNTS RECEIVABLE | $ | 2,741,107 | $ | 0 | $ | 0 | $ | 0 | |||||||||
| 6. | AMOUNT CONSIDERED UNCOLLECTIBLE | |||||||||||||||||
| 7. | ACCOUNTS RECEIVABLE (NET) | $ | 2,741,107 | $ | 0 | $ | 0 | $ | 0 | 1 | ||||||||
| AGING OF POSTPETITION TAXES AND PAYABLES | MONTH: | November 2015 |
| 0-30 | 31-60 | 61-90 | 91+ | |||||||||||||||||||
| TAXES PAYABLE | DAYS | DAYS | DAYS | DAYS | TOTAL | |||||||||||||||||
| 1. | FEDERAL | $ | 0 | |||||||||||||||||||
| 2. | STATE | $ | 0 | |||||||||||||||||||
| 3. | LOCAL | $ | 0 | |||||||||||||||||||
| 4. | OTHER (ATTACH LIST) | $ | 0 | |||||||||||||||||||
| 5. | TOTAL TAXES PAYABLE | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||
| 6. | ACCOUNTS PAYABLE | $ | 1,288 | $ | 1,288 | |||||||||||||||||
| STATUS OF POSTPETITION TAXES | MONTH: | November 2015 |
| BEGINNING | AMOUNT | ENDING | ||||||||||||||||
| TAX | WITHHELD AND/ | AMOUNT | TAX | |||||||||||||||
| FEDERAL | LIABILITY | 0R ACCRUED | PAID | LIABILITY | ||||||||||||||
| 1. | WITHHOLDING | $ | 0 | |||||||||||||||
| 2. | FICA-EMPLOYEE | $ | 0 | |||||||||||||||
| 3. | FICA-EMPLOYER | $ | 0 | |||||||||||||||
| 4. | UNEMPLOYMENT | $ | 0 | |||||||||||||||
| 5. | INCOME | $ | 0 | |||||||||||||||
| 6. | OTHER (ATTACH LIST) | $ | 0 | |||||||||||||||
| 7. | TOTAL FEDERAL TAXES | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||
| STATE AND LOCAL | ||||||||||||||||||
| 8. | WITHHOLDING | $ | 0 | |||||||||||||||
| 9. | SALES | $ | 0 | |||||||||||||||
| 10. | EXCISE | $ | 0 | |||||||||||||||
| 11. | UNEMPLOYMENT | $ | 0 | |||||||||||||||
| 12. | REAL PROPERTY | $ | 0 | |||||||||||||||
| 13. | PERSONAL PROPERTY | $ | 0 | |||||||||||||||
| 14. | OTHER (ATTACH LIST) | $ | 0 | |||||||||||||||
| 15. | TOTAL STATE & LOCAL | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||
| 16. | TOTAL TAXES | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||
| 1 | The Debtor LPIFS records receipts on a cash basis and accordingly, does not carry receivable balances. The Schedules note a receivable balance as if receipts were recorded on an accrual basis as of the petition date. |
| 7 |
Monthly Operating Report
ACCRUAL BASIS-5
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH: | November 2015 | |||||||||||||||||
| BANK RECONCILIATIONS | ||||||||||||||||||
| Account #1 | Account #2 | Account #3 | ||||||||||||||||
| A. BANK: | ||||||||||||||||||
| B. ACCOUNT NUMBER: | 4069 | TOTAL | ||||||||||||||||
| C. PURPOSE (TYPE): | ||||||||||||||||||
| 1. | BALANCE PER BANK STATEMENT | $ | 1,082,965 | $ | 1,082,965 | |||||||||||||
| 2. | ADD: TOTAL DEPOSITS NOT CREDITED | $ | 0 | |||||||||||||||
| 3. | SUBTRACT: OUTSTANDING CHECKS | $ | 0 | $ | 0 | |||||||||||||
| 4. | OTHER RECONCILING ITEMS | $ | 50 | $ | 50 | |||||||||||||
| 5. | MONTH END BALANCE PER BOOKS | $ | 1,083,015 | $ | 0 | $ | 0 | $ | 1,083,015 | |||||||||
| 6. | NUMBER OF LAST CHECK WRITTEN | 1023 | ||||||||||||||||
INVESTMENT ACCOUNTS
| DATE OF | TYPE OF | PURCHASE | CURRENT | ||||||||||||||
| BANK, ACCOUNT NAME & NUMBER | PURCHASE | INSTRUMENT | PRICE | VALUE | |||||||||||||
| 7. | |||||||||||||||||
| 8. | |||||||||||||||||
| 9. | |||||||||||||||||
| 10. | |||||||||||||||||
| 11. | TOTAL INVESTMENTS | $ | 0 | $ | 0 | ||||||||||||
| CASH | |||||||||||||||||
| 12. | CURRENCY ON HAND | $ | 0 | ||||||||||||||
| 13. | TOTAL CASH - END OF MONTH | $ | 1,083,015 | ||||||||||||||
Monthly Operating Report
ACCRUAL BASIS-6
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH: | November 2015 |
PAYMENTS TO INSIDERS AND PROFESSIONALS
| INSIDERS | ||||||||||||
| TYPE OF | AMOUNT | TOTAL PAID | ||||||||||
| NAME | PAYMENT | PAID | TO DATE | |||||||||
| 1. | Advance Trust & Life Escrow Services | Premium Remittance | $ | 1,587 | $ | 90,437 | ||||||
| 2. | Purchase Escrow Services, LLC | Premium Remittance | $ | 225 | $ | 3,687 | ||||||
| 3. | ||||||||||||
| 4. | ||||||||||||
| 5. | ||||||||||||
| 6. | TOTAL PAYMENTS TO INSIDERS | $ | 1,813 | $ | 94,124 | |||||||
| PROFESSIONALS | |||||||||||||||||||||
| DATE OF COURT | TOTAL | ||||||||||||||||||||
| ORDER AUTHORIZING | AMOUNT | AMOUNT | TOTAL PAID | INCURRED | |||||||||||||||||
| NAME | PAYMENT | APPROVED | PAID | TO DATE | & UNPAID | ||||||||||||||||
| 1. | Asset Servicing Group | 10/29/15 | $ | 344,134 | $ | 344,134 | $ | 344,134 | $ | 502,572 | |||||||||||
| 2. | Bridgepoint Consulting | 10/29/15 | $ | 70,372 | $ | 70,372 | $ | 70,372 | $ | 665,552 | |||||||||||
| 3. | Epiq Bankruptcy Solutions | 05/22/15 | $ | 2,318,973 | $ | 1,532,306 | $ | 2,091,079 | $ | 227,894 | |||||||||||
| 4. | Kim Hinkle, Attorney at Law | 10/29/15 | $ | 80,408 | $ | 80,408 | $ | 80,408 | $ | 128,516 | |||||||||||
| 5. | MMS Advisors | $ | 217,600 | 5 | |||||||||||||||||
| 6. | Munsch, Hardt, Kopf & Harr,P.C. | 10/29/15 | $ | 597,453 | $ | 597,453 | $ | 597,453 | $ | 1,161,836 | |||||||||||
| 7. | Thompson & Knight LLP | 10/29/15 | $ | 2,470,095 | $ | 2,466,661 | $ | 2,470,095 | $ | 6,714,050 | |||||||||||
| 8. | Tom Moran, US Trustee | $ | 6,588 | $ | 16,220 | $ | 397,750 | ||||||||||||||
| 9. | Phillips Murrah | 10/29/15 | $ | 82,045 | $ | 82,045 | $ | 82,045 | $ | 63,202 | |||||||||||
| 10. | Smith, Jackson, Boyer & Brovard, PLLC | 10/29/15 | $ | 7,463 | $ | 7,463 | $ | 7,463 | $ | 52,552 | |||||||||||
| 11. | Predictive Resources | $ | 113,867 | ||||||||||||||||||
| 12. | D3G/Lewis & Ellis | $ | 111,140 | ||||||||||||||||||
| 13. | Barbara Pope | $ | 26,706 | ||||||||||||||||||
| 14. | TOTAL PAYMENTS TO PROFESSIONALS | $ | 5,187,429 | $ | 5,759,269 | $ | 10,383,236 | 3 | |||||||||||||
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
| SCHEDULED | AMOUNTS | |||||||||||||
| MONTHLY | PAID | TOTAL | ||||||||||||
| PAYMENTS | DURING | UNPAID | ||||||||||||
| NAME OF CREDITOR | DUE | MONTH | POSTPETITION | |||||||||||
| 1. | ||||||||||||||
| 2. | ||||||||||||||
| 3. | ||||||||||||||
| 4. | ||||||||||||||
| 5. | ||||||||||||||
| 6. | TOTAL | $ | 0 | $ | 0 | $ | 0 | |||||||
| 3 | Professional fees and expenses estimated and accrued prior to May 19th are reflected only on the books of Life Partners Holdings, Inc. Thereafter, professional fees and expenses reflect the estimated aggregate, unallocated fees and expenses for all of the Debtors, and are noted on each of the Debtors MORs. |
| 5 | MMS Advisors incurred fees and expenses March 13th - May 18th in the estimated amount of $230,000.00 that are not included here since their retention has not been approved for this period of time. |
Monthly Operating Report
ACCRUAL BASIS-7
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH: | November 2015 |
QUESTIONNAIRE
| YES | NO | |||||
| 1. | HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? | X | ||||
| 2. | HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? | X | ||||
| 3. | ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? | X | ||||
| 4. | HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? | X | ||||
| 5. | HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? | X | ||||
| 6. | ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? | X | ||||
| 7. | ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? | X | ||||
| 8. | ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? | X | ||||
| 9. | ARE ANY OTHER POSTPETITION TAXES PAST DUE? | X | ||||
| 10. | ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? | X | ||||
| 11. | HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? | X | ||||
| 12. | ARE ANY WAGE PAYMENTS PAST DUE? | X |
| IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES," PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY. |
| INSURANCE | ||||||
| YES | NO | |||||
| 1. | ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? | X | ||||
| 2. | ARE ALL PREMIUM PAYMENTS PAID CURRENT? | X | ||||
| 3. | PLEASE ITEMIZE POLICIES BELOW. | |||||
| IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO," OR IF ANY POLICIES HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY. |
| INSTALLMENT PAYMENTS | ||||||
| TYPE OF | PAYMENT AMOUNT | |||||
| POLICY | CARRIER | PERIOD COVERED | & FREQUENCY | |||
Exhibit 99.4
Monthly Operating Report
ACCRUAL BASIS
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| JUDGE: | Russell Nelms |
UNITED STATES BANKRUPTCY COURT
NORTHERN & EASTERN DISTRICTS OF TEXAS
REGION 6
MONTHLY OPERATING REPORT
| MONTH ENDING: | September | 2015 | ||||
| MONTH | YEAR |
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT, AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
| RESPONSIBLE PARTY: | ||
| /s/ H. Thomas Moran II | Trustee | |
| ORIGINAL SIGNATURE OF RESPONSIBLE PARTY | TITLE | |
| H. Thomas Moran II | 10/20/2015 | |
| PRINTED NAME OF RESPONSIBLE PARTY | DATE | |
| PREPARER: | ||
| /s/ Colette Pieper | CEO | |
| ORIGINAL SIGNATURE OF PREPARER | TITLE | |
| Colette Pieper | 10/20/2015 | |
| PRINTED NAME OF PREPARER | DATE |
Monthly Operating Report
ACCRUAL BASIS-1
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
COMPARATIVE BALANCE SHEET
| SCHEDULE AMOUNT | JULY | AUGUST | SEPTEMBER | |||||||||||||||
| ASSETS | ||||||||||||||||||
| 1. UNRESTRICTED CASH | $ | 51,248 | $ | 33,749 | $ | 35,458 | $ | 326,670 | ||||||||||
| 2. RESTRICTED CASH | ||||||||||||||||||
| 3. TOTAL CASH | $ | 51,248 | $ | 33,749 | $ | 35,458 | $ | 326,670 | ||||||||||
| 4. ACCOUNTS RECEIVABLE (NET) | ||||||||||||||||||
| 5. INVENTORY | ||||||||||||||||||
| 6. NOTES RECEIVABLE | ||||||||||||||||||
| 7. PREPAID EXPENSES | $ | 175,002 | $ | 168,482 | $ | 504,726 | ||||||||||||
| 8. OTHER (ATTACH LIST) | $ | 76,415 | $ | 84,665 | $ | 95,165 | $ | 84,665 | ||||||||||
| 9. TOTAL CURRENT ASSETS | $ | 127,664 | $ | 293,416 | $ | 299,105 | $ | 916,061 | ||||||||||
| 10. PROPERTY, PLANT & EQUIPMENT | $ | 2,188,639 | $ | 2,188,639 | $ | 2,188,639 | $ | 2,188,639 | ||||||||||
| 11. LESS: ACCUMULATED DEPRECIATION/DEPLETION | $ | (819,684 | ) | $ | (825,402 | ) | $ | (831,120 | ) | |||||||||
| 12. NET PROPERTY, PLANT & EQUIPMENT | $ | 2,188,639 | $ | 1,368,954 | $ | 1,363,237 | $ | 1,357,519 | ||||||||||
| 13. DUE FROM INSIDERS | ||||||||||||||||||
| 14. OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) | $ | 166,250 | $ | 166,250 | $ | 166,250 | $ | 166,250 | ||||||||||
| 15. OTHER (ATTACH LIST) | ||||||||||||||||||
| 16. TOTAL ASSETS | $ | 2,482,552 | $ | 1,828,620 | $ | 1,828,592 | $ | 2,439,830 | ||||||||||
| POSTPETITION LIABILITIES | ||||||||||||||||||
| 17. ACCOUNTS PAYABLE | $ | 490,264 | $ | 513,595 | $ | 1,054,868 | ||||||||||||
| 18. TAXES PAYABLE | $ | 32,775 | $ | 37,923 | $ | 43,071 | ||||||||||||
| 19. NOTES PAYABLE | ||||||||||||||||||
| 20. PROFESSIONAL FEES | $ | 5,731,430 | $ | 6,536,268 | $ | 6,156,291 | ||||||||||||
| 21. SECURED DEBT | $ | 7,590 | $ | 6,521 | $ | 290,616 | ||||||||||||
| 22. OTHER (ATTACH LIST) | ||||||||||||||||||
| 23. TOTAL POSTPETITION LIABILITIES | $ | 6,262,059 | $ | 7,094,306 | $ | 7,544,846 | ||||||||||||
| PREPETITION LIABILITIES | ||||||||||||||||||
| 24. SECURED DEBT | $ | 267,505 | $ | 65,035 | $ | 65,035 | $ | 65,035 | 1 | |||||||||
| 25. PRIORITY DEBT | $ | 3,991,351 | ||||||||||||||||
| 26. UNSECURED DEBT | $ | 114,283,485 | $ | 1,588,832 | $ | 1,588,832 | $ | 1,588,832 | 2 | |||||||||
| 27. OTHER (ATTACH LIST) | ||||||||||||||||||
| 28. TOTAL PREPETITION LIABILITIES | $ | 118,542,341 | $ | 1,653,867 | $ | 1,653,867 | $ | 1,653,867 | ||||||||||
| 29. TOTAL LIABILITIES | $ | 118,542,341 | $ | 7,915,926 | $ | 8,748,174 | $ | 9,198,714 | ||||||||||
| EQUITY | ||||||||||||||||||
| 30. PREPETITION OWNERS' EQUITY | $ | (73,722,301 | ) | $ | (73,722,301 | ) | $ | (73,722,301 | ) | |||||||||
| 31. POSTPETITION CUMULATIVE PROFIT OR (LOSS) | $ | (6,691,710 | ) | $ | (7,556,986 | ) | $ | (7,578,724 | ) | |||||||||
| 32. DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) | $ | 74,326,705 | $ | 74,359,705 | $ | 74,542,142 | 3 | |||||||||||
| 33. TOTAL EQUITY | $ | (6,087,306 | ) | $ | (6,919,582 | ) | $ | (6,758,884 | ) | |||||||||
| 34. TOTAL LIABILITIES & OWNERS' EQUITY | $ | 1,828,620 | $ | 1,828,592 | $ | 2,439,830 | ||||||||||||
| 1 | Item 24. Secured Debt includes $3,260.33 accrued property tax for the prepetition period, due post petition. |
| 2 | The Schedule Amount for Item 26. Unsecured Debt includes Intercompany Due To/From LPI shown below in Item 32. |
| 3 | Intercompany Due To/From Life Partners, Inc. |
Monthly Operating Report
SUPPLEMENT TO
ACCRUAL BASIS-1
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
COMPARATIVE BALANCE SHEET
| SCHEDULE AMOUNT | JULY | AUGUST | SEPTEMBER | |||||||||||||
| 8. OTHER CURRENT ASSETS | ||||||||||||||||
| 8. Pardo Family Holdings Trust (Advance to Price L. Johnson, PC) | $ | 24,441 | $ | 31,323 | $ | 31,323 | $ | 31,323 | ||||||||
| 8. Pardo Family Holdings Trust (Advance to Kyle, Mathis & Lucas, LLP) | $ | 51,975 | $ | 53,343 | $ | 53,343 | $ | 53,343 | ||||||||
| 8. Rent due from Life Partners, Inc. | $ | 10,500 | ||||||||||||||
| 8. | ||||||||||||||||
| 8. | ||||||||||||||||
| 8. | ||||||||||||||||
| 8. | ||||||||||||||||
| 8 | ||||||||||||||||
| 8. TOTAL - OTHER CURRENT ASSETS | $ | 76,415 | $ | 84,665 | $ | 95,165 | $ | 84,665 | ||||||||
| 14. OTHER ASSETS - NET OF AMORTIZATION | ||||||||||||||||
| 14. Woolly Mammoth & Other Prehistoric Artifacts | $ | 166,250 | $ | 166,250 | $ | 166,250 | $ | 166,250 | ||||||||
| 14. | ||||||||||||||||
| 14. | ||||||||||||||||
| 14. | ||||||||||||||||
| 14. | ||||||||||||||||
| 14. TOTAL - OTHER ASSETS (Net of Amort.) | $ | 166,250 | $ | 166,250 | $ | 166,250 | $ | 166,250 | ||||||||
| 15. OTHER ASSETS | ||||||||||||||||
| 15. | ||||||||||||||||
| 15. | ||||||||||||||||
| 15. | ||||||||||||||||
| 15. | ||||||||||||||||
| 15. | ||||||||||||||||
| 15. | ||||||||||||||||
| 15. | ||||||||||||||||
| 15. | ||||||||||||||||
| 15. | ||||||||||||||||
| 15. TOTAL - OTHER ASSETS | $ | - | $ | - | $ | - | $ | - | ||||||||
| POSTPETITION LIABILITIES | ||||||||||||||||
| 22. | ||||||||||||||||
| 22. | ||||||||||||||||
| 22. | ||||||||||||||||
| 22. | ||||||||||||||||
| 22. | ||||||||||||||||
| 22. | ||||||||||||||||
| 22 TOTAL - OTHER POSTPETITION LIABILITIES | $ | - | $ | - | $ | - | ||||||||||
Monthly Operating Report
ACCRUAL BASIS-2
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| INCOME STATEMENT | JUNE | JULY | AUGUST | SEPTEMBER | ||||||||||||||
| REVENUES | ||||||||||||||||||
| 1. GROSS REVENUES | ||||||||||||||||||
| 2. LESS: RETURNS & DISCOUNTS | ||||||||||||||||||
| 3. NET REVENUE | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||
| COST OF GOODS SOLD | ||||||||||||||||||
| 4. MATERIAL | ||||||||||||||||||
| 5. DIRECT LABOR | ||||||||||||||||||
| 6. DIRECT OVERHEAD | ||||||||||||||||||
| 7. TOTAL COST OF GOODS SOLD | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||
| 8. GROSS PROFIT | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||
| OPERATING EXPENSES | ||||||||||||||||||
| 9. OFFICER / INSIDER COMPENSATION | ||||||||||||||||||
| 10. SELLING & MARKETING | ||||||||||||||||||
| 11. GENERAL & ADMINISTRATIVE | $ | 48,295 | $ | 47,520 | $ | 38,918 | $ | 51,554 | ||||||||||
| 12. RENT & LEASE | $ | 0 | ||||||||||||||||
| 13. OTHER (ATTACH LIST) | $ | 11,060 | $ | 10,320 | $ | 25,685 | $ | 15,413 | 1 | |||||||||
| 14. TOTAL OPERATING EXPENSES | $ | 59,355 | $ | 57,840 | $ | 64,603 | $ | 66,966 | ||||||||||
| 15. INCOME BEFORE NON-OPERATING INCOME & EXPENSE | $ | (59,355 | ) | $ | (57,840 | ) | $ | (64,603 | ) | $ | (66,966 | ) | ||||||
| OTHER INCOME & EXPENSES | ||||||||||||||||||
| 16. NON-OPERATING INCOME (ATTACH LIST) | $ | (10,000 | ) | $ | (10,000 | ) | $ | (10,500 | ) | $ | (10,000 | ) | 2 | |||||
| 17. NON-OPERATING EXPENSE (ATTACH LIST) | $ | 0 | ||||||||||||||||
| 18. INTEREST EXPENSE | $ | 46 | $ | 131 | $ | 36 | $ | 31 | ||||||||||
| 19. DEPRECIATION / DEPLETION | $ | 5,718 | $ | 5,718 | $ | 5,718 | $ | 5,718 | ||||||||||
| 20. AMORTIZATION | $ | 0 | ||||||||||||||||
| 21. OTHER (ATTACH LIST) | $ | 0 | $ | 0 | $ | (35,447 | ) | 4 | ||||||||||
| 22. NET OTHER INCOME & EXPENSES | $ | (4,236 | ) | $ | (4,152 | ) | $ | (4,746 | ) | $ | (39,698 | ) | ||||||
| REORGANIZATION EXPENSES | ||||||||||||||||||
| 23. PROFESSIONAL FEES | $ | 1,111,933 | $ | 1,314,994 | $ | 804,838 | $ | (6,279 | ) | 5 | ||||||||
| 24. U.S. TRUSTEE FEES | $ | 925 | $ | 325 | $ | 71 | ||||||||||||
| 25. OTHER (ATTACH LIST) | $ | 1,770 | $ | 582 | $ | 669 | 3 | |||||||||||
| 26. TOTAL REORGANIZATION EXPENSES | $ | 1,112,858 | $ | 1,317,088 | $ | 805,420 | $ | (5,540 | ) | |||||||||
| 27. INCOME TAX | $ | 150 | $ | 10 | ||||||||||||||
| 28. NET PROFIT (LOSS) | $ | (1,168,126 | ) | $ | (1,370,776 | ) | $ | (865,276 | ) | $ | (21,738 | ) | ||||||
| 1 | Operating Expenses Item 13. Other is Legal & Professional Fees not related to the reorganization. |
| 2 | Other Income & Expense Item 16. Non-Operating Income includes Rental Income of $10,000 & a $500 late fee. |
| 3 | Item 25. Other Reorganization Expenses includes fees for transcription services. |
| 4 | Item 21. Other Income & Expense is gain recognized on the sale of the airport hangar. This asset was carried on the books of Life Partners, Inc., but was owned by LPHI, therefore, the corresponding reduction in assets shows on Life Partners, Inc. MOR-1 |
| 5 | Item 23. Professional Fees are negative due to correcting fees duplicately recorded in previous month. |
Monthly Operating Report
ACCRUAL BASIS-3
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| CASH RECEIPTS AND DISBURSEMENTS | JULY | AUGUST | SEPTEMBER | QUARTER | ||||||||||||
| 1. CASH - BEGINNING OF MONTH | $ | 34,682 | $ | 33,749 | $ | 35,458 | ||||||||||
| RECEIPTS FROM OPERATIONS | ||||||||||||||||
| 2. CASH SALES | $ | 0 | ||||||||||||||
| COLLECTION OF ACCOUNTS RECEIVABLE | ||||||||||||||||
| 3. PREPETITION | $ | 0 | ||||||||||||||
| 4. POSTPETITION | $ | 0 | ||||||||||||||
| 5. TOTAL OPERATING RECEIPTS | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||
| NON-OPERATING RECEIPTS | ||||||||||||||||
| 6. LOANS & ADVANCES (ATTACH LIST) | $ | 0 | ||||||||||||||
| 7. SALE OF ASSETS | $ | 268,996 | $ | 268,996 | ||||||||||||
| 8. OTHER (ATTACH LIST) | $ | 10,000 | $ | 5,168 | $ | 26,255 | $ | 41,423 | ||||||||
| 9. TOTAL NON-OPERATING RECEIPTS | $ | 10,000 | $ | 5,168 | $ | 295,251 | $ | 310,419 | ||||||||
| 10. TOTAL RECEIPTS | $ | 10,000 | $ | 5,168 | $ | 295,251 | $ | 310,419 | ||||||||
| 11. TOTAL CASH AVAILABLE | $ | 44,682 | $ | 38,917 | $ | 330,710 | $ | 310,419 | ||||||||
| OPERATING DISBURSEMENTS | ||||||||||||||||
| 12. NET PAYROLL | $ | 0 | ||||||||||||||
| 13. PAYROLL TAXES PAID | $ | 0 | ||||||||||||||
| 14. SALES, USE & OTHER TAXES PAID | $ | 10 | $ | 10 | ||||||||||||
| 15. SECURED / RENTAL / LEASES | $ | 0 | ||||||||||||||
| 16. UTILITIES | $ | 0 | ||||||||||||||
| 17. INSURANCE | $ | 2,476 | $ | 2,456 | $ | 2,456 | $ | 7,388 | ||||||||
| 18. INVENTORY PURCHASES | $ | 0 | ||||||||||||||
| 19. VEHICLE EXPENSES | $ | 0 | ||||||||||||||
| 20. TRAVEL | $ | 0 | ||||||||||||||
| 21. ENTERTAINMENT | $ | 0 | ||||||||||||||
| 22. REPAIRS & MAINTENANCE | $ | 0 | ||||||||||||||
| 23. SUPPLIES | $ | 0 | ||||||||||||||
| 24. ADVERTISING | $ | 0 | ||||||||||||||
| 25. OTHER (ATTACH LIST) | $ | 5,018 | $ | 212 | $ | 1,394 | $ | 6,624 | ||||||||
| 26. TOTAL OPERATING DISBURSEMENTS | $ | 7,494 | $ | 2,668 | $ | 3,860 | $ | 14,022 | ||||||||
| REORGANIZATION EXPENSES | ||||||||||||||||
| 27. PROFESSIONAL FEES | $ | 0 | ||||||||||||||
| 28. U.S. TRUSTEE FEES | $ | 1,950 | $ | 1,950 | ||||||||||||
| 29. OTHER (ATTACH LIST) | $ | 1,488 | $ | 791 | $ | 180 | $ | 2,459 | ||||||||
| 30. TOTAL REORGANIZATION EXPENSES | $ | 3,438 | $ | 791 | $ | 180 | $ | 4,409 | ||||||||
| 31. TOTAL DISBURSEMENTS | $ | 10,933 | $ | 3,459 | $ | 4,039 | $ | 18,431 | ||||||||
| 32. NET CASH FLOW | $ | (933 | ) | $ | 1,709 | $ | 291,212 | $ | 291,989 | |||||||
| 33. CASH - END OF MONTH | $ | 33,749 | $ | 35,458 | $ | 326,670 | ||||||||||
See Exhibit 1 for disbursements made by LPI Financial Services, Inc. on behalf of Life Partners Holdings, Inc.
Monthly Operating Report
SUPPLEMENT TO
ACCRUAL BASIS-3
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| CASH RECEIPTS AND DISBURSEMENTS | JULY | AUGUST | SEPTEMBER | QUARTER | ||||||||||||
| OTHER NON-OPERATING RECEIPTS | ||||||||||||||||
| 8. Lease & Rental Income | $ | 10,000 | $ | 20,500 | $ | 30,500 | ||||||||||
| 8. Return of Retainer | $ | 5,755 | $ | 5,755 | ||||||||||||
| 8. Worker's Compensation Dividend | $ | 5,168 | $ | 5,168 | ||||||||||||
| 8. Total - Non-Operating Receipts | $ | 10,000 | $ | 5,168 | $ | 26,255 | $ | 41,423 | ||||||||
| OTHER OPERATING DISBURSEMENTS | ||||||||||||||||
| 25. Registrar & Transfer Fees | $ | 1,050 | $ | 1,400 | $ | 2,450 | ||||||||||
| 25. Filing Fees | $ | 212 | $ | 212 | ||||||||||||
| 25. Web Page Hosting | $ | 3,750 | $ | 3,750 | ||||||||||||
| 25. Bank Acct Analysis Fee | $ | 219 | $ | (6 | ) | $ | 213 | |||||||||
| 25. Total - Other Operating Disbursements | $ | 5,018 | $ | 212 | $ | 1,394 | $ | 6,624 | ||||||||
| OTHER REORGANIZATION EXPENSES | ||||||||||||||||
| 29. Transcription Services | $ | 1,488 | $ | 791 | $ | 180 | $ | 2,459 | ||||||||
| 29. | $ | 0 | ||||||||||||||
| 29. Total - Other Reorganization Expenses | $ | 1,488 | $ | 791 | $ | 180 | $ | 2,459 | ||||||||
Monthly Operating Report
ACCRUAL BASIS-4
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| ACCOUNTS RECEIVABLE AGING | SCHEDULE AMOUNT | JUNE | JULY | AUGUST | ||||||||||||
| 1. 0-30 | ||||||||||||||||
| 2. 31-60 | ||||||||||||||||
| 3. 61-90 | ||||||||||||||||
| 4. 91+ | ||||||||||||||||
| 5. TOTAL ACCOUNTS RECEIVABLE | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||
| 6. AMOUNT CONSIDERED UNCOLLECTIBLE | ||||||||||||||||
| 7. ACCOUNTS RECEIVABLE (NET) | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||
| AGING OF POSTPETITION TAXES AND PAYABLES | MONTH: | September 2015 |
| 0-30 | 31-60 | 61-90 | 91+ | |||||||||||||||||
| TAXES PAYABLE | DAYS | DAYS | DAYS | DAYS | TOTAL | |||||||||||||||
| 1. FEDERAL | $ | 0 | ||||||||||||||||||
| 2. STATE | $ | 0 | ||||||||||||||||||
| 3. LOCAL | $ | 43,071 | $ | 43,071 | ||||||||||||||||
| 4. OTHER (ATTACH LIST) | $ | 0 | ||||||||||||||||||
| 5. TOTAL TAXES PAYABLE | $ | 43,071 | $ | 0 | $ | 0 | $ | 0 | $ | 43,071 | ||||||||||
| 6. ACCOUNTS PAYABLE | $ | 476,716 | $ | 65,910 | $ | 29,116 | $ | 483,127 | $ | 1,054,868 | ||||||||||
| STATUS OF POSTPETITION TAXES | MONTH: | September 2015 |
| BEGINNING | AMOUNT | ENDING | ||||||||||||||||
| TAX | WITHHELD AND/ | AMOUNT | TAX | |||||||||||||||
| FEDERAL | LIABILITY | OR ACCRUED | PAID | LIABILITY | ||||||||||||||
| 1. WITHHOLDING | $ | 0 | ||||||||||||||||
| 2. FICA-EMPLOYEE | $ | 0 | ||||||||||||||||
| 3. FICA-EMPLOYER | $ | 0 | ||||||||||||||||
| 4. UNEMPLOYMENT | $ | 0 | ||||||||||||||||
| 5. INCOME | $ | 0 | ||||||||||||||||
| 6. OTHER (ATTACH LIST) | $ | 0 | ||||||||||||||||
| 7. TOTAL FEDERAL TAXES | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||
| STATE AND LOCAL | ||||||||||||||||||
| 8. WITHHOLDING | $ | 0 | ||||||||||||||||
| 9. SALES | $ | 0 | ||||||||||||||||
| 10. EXCISE | $ | 0 | ||||||||||||||||
| 11. UNEMPLOYMENT | $ | 0 | ||||||||||||||||
| 12. REAL PROPERTY | $ | 37,923 | $ | 5,148 | $ | 43,071 | 1 | |||||||||||
| 13. PERSONAL PROPERTY | $ | 0 | ||||||||||||||||
| 14. OTHER (ATTACH LIST) | $ | 0 | ||||||||||||||||
| 15. TOTAL STATE & LOCAL | $ | 37,923 | $ | 5,148 | $ | 0 | $ | 43,071 | ||||||||||
| 16. TOTAL TAXES | $ | 37,923 | $ | 5,148 | $ | 0 | $ | 43,071 | ||||||||||
| 1 | The figures shown here do not include $3,260.33 accrued for the prepetition period of Jan. 1, 2015 thru Jan. 19, 2015. |
Monthly Operating Report
ACCRUAL BASIS-5
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | September 2015 |
BANK RECONCILIATIONS
| Account #1 | Account #2 | Account #3 | ||||||||||||||
| A. BANK: | Bank of America | Alliance Bank | Bank of Texas | |||||||||||||
| B. ACCOUNT NUMBER: | 3363 | 613 | 3772 | |||||||||||||
| C. PURPOSE (TYPE): | DIP Account | MoneyMarket | Checking | TOTAL | ||||||||||||
| 1. BALANCE PER BANK STATEMENT | $ | 326,850 | $ | 326,850 | ||||||||||||
| 2. ADD: TOTAL DEPOSITS NOT CREDITED | $ | 0 | ||||||||||||||
| 3. SUBTRACT: OUTSTANDING CHECKS | $ | 180 | $ | 180 | ||||||||||||
| 4. OTHER RECONCILING ITEMS | $ | 0 | ||||||||||||||
| 5. MONTH END BALANCE PER BOOKS | $ | 0 | $ | 0 | $ | 326,670 | $ | 326,670 | ||||||||
| 6. NUMBER OF LAST CHECK WRITTEN | 1013 | 1019 | ||||||||||||||
INVESTMENT ACCOUNTS
| DATE OF | TYPE OF | PURCHASE | CURRENT | |||||||||||||
| BANK, ACCOUNT NAME & NUMBER | PURCHASE | INSTRUMENT | PRICE | VALUE | ||||||||||||
| 7. | ||||||||||||||||
| 8. | ||||||||||||||||
| 9. | ||||||||||||||||
| 10. | ||||||||||||||||
| 11. TOTAL INVESTMENTS | $ | 0 | $ | 0 | ||||||||||||
| CASH | ||||||||||||||||
| 12. CURRENCY ON HAND | $ | 0 | ||||||||||||||
| 13. TOTAL CASH - END OF MONTH | $ | 326,670 | ||||||||||||||
Monthly Operating Report
ACCRUAL BASIS-6
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | September 2015 |
PAYMENTS TO INSIDERS AND PROFESSIONALS
| INSIDERS | ||||||||||||
| TYPE OF | AMOUNT | TOTAL PAID | ||||||||||
| NAME | PAYMENT | PAID | TO DATE | |||||||||
| 1. | ||||||||||||
| 2. | ||||||||||||
| 3. | ||||||||||||
| 4. | ||||||||||||
| 5. | ||||||||||||
| 6. TOTAL PAYMENTS TO INSIDERS | $ | 0 | $ | 0 | ||||||||
| PROFESSIONALS | 3 | |||||||||||||||||||
| DATE OF COURT | TOTAL | |||||||||||||||||||
| ORDER AUTHORIZING | AMOUNT | AMOUNT | TOTAL PAID | INCURRED | ||||||||||||||||
| NAME | PAYMENT | APPROVED | PAID | TO DATE | & UNPAID | |||||||||||||||
| 1. Asset Servicing Group | $ | 705,846 | ||||||||||||||||||
| 2. Bridgepoint Consulting | $ | 417,920 | ||||||||||||||||||
| 3. Epiq Bankruptcy Solutions | 05/22/15 | $ | 2,156,666 | $ | 184,781 | $ | 558,773 | $ | 1,597,893 | 4 | ||||||||||
| 4. Forshey & Prostok, LLP | 04/28/15 | $ | 154,409 | $ | 57,613 | $ | 96,796 | 1 | ||||||||||||
| 5. Kevin Buchanan & Associates | 07/01/15 | $ | 140,235 | $ | 140,235 | |||||||||||||||
| 6. Kim Hinkle, Attorney at Law | $ | 179,298 | ||||||||||||||||||
| 7. MMS Advisors | $ | 217,600 | 2 | |||||||||||||||||
| 8. Munsch, Hardt, Kopf & Harr, P.C. | $ | 1,353,000 | ||||||||||||||||||
| 9. Phillips Murrah | $ | 156,334 | ||||||||||||||||||
| 10. Pronske Goolsby & Kathman, P.C. | 05/05/15 | $ | 128,618 | $ | 100,000 | $ | 28,618 | 1 | ||||||||||||
| 11. Thompson & Knight, LLP | $ | 5,917,206 | ||||||||||||||||||
| 12. Tom Moran, US Trustee | $ | 404,725 | ||||||||||||||||||
| 13. Smith, Jackson, Boyer & Bovard, PLLC | $ | 35,866 | ||||||||||||||||||
| 14. Inventus, LLC | $ | 25,000 | $ | 25,000 | ||||||||||||||||
| 15. First Advantage Litigation Consulting | $ | 6,000 | $ | 6,000 | $ | 6,000 | 6 | |||||||||||||
| 16. Predictive Resources | $ | 22,500 | ||||||||||||||||||
| 17. TOTAL PAYMENTS TO PROFESSIONALS | $ | 190,781 | $ | 747,386 | $ | 11,304,837 | ||||||||||||||
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
| SCHEDULED | AMOUNTS | |||||||||||||
| MONTHLY | PAID | TOTAL | ||||||||||||
| PAYMENTS | DURING | UNPAID | ||||||||||||
| NAME OF CREDITOR | DUE | MONTH | POSTPETITION | |||||||||||
| 1. Bank Direct Capital Finance | $ | 1,105 | $ | 1,105 | $ | 5,447 | ||||||||
| 2. First Insurance Funding Corp. | $ | 32,116 | $ | 95,216 | $ | 285,169 | 5 | |||||||
| 3. | ||||||||||||||
| 4. | ||||||||||||||
| 5. | ||||||||||||||
| 6. TOTAL | $ | 33,221 | $ | 96,321 | $ | 290,616 | ||||||||
| 1 | The payments reflected here are retainers paid in prior months by Life Partners, Inc. |
| 2 | MMS Advisors incurred fees and expenses March 13th - May 18th in the estimated amount of $230,000.00 that are not included here since their retention has not been approved for this period of time. |
| 3 | Professional fees and expenses estimated and accrued prior to May 19th are reflected only on the books of Life Partners Holdings, Inc. Thereafter, professional fees and expenses reflect the estimated aggregate, unallocated fees and expenses for all of the Debtors, and are noted on each of the Debtors MORs. |
| 4 | Current month payments to Epiq Bankruptcy Solutions were made by LPI Financial Services, Inc. |
| 5 | Amount paid during the month is downpayment on D&O insurance and was paid by LPI Financial Services, Inc. |
| 6 | Amount paid to First Advantage Litigation Consulting is a retainer paid by Life Partners, Inc. |
Monthly Operating Report
ACCRUAL BASIS-7
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | September 2015 |
QUESTIONNAIRE
| YES | NO | |||||
| 1. | HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? | X | ||||
| 2. | HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? | X | ||||
| 3. | ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? | X | ||||
| 4. | HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? | X | ||||
| 5. | HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? | X | ||||
| 6. | ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? | X | ||||
| 7. | ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? | X | ||||
| 8. | ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? | X | ||||
| 9. | ARE ANY OTHER POSTPETITION TAXES PAST DUE? | X | ||||
| 10. | ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? | X | ||||
| 11. | HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? | X | ||||
| 12. | ARE ANY WAGE PAYMENTS PAST DUE? | X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES," PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
Questionnaire Item 1. Airplane hangar sold pursuant to court order.
Questionnaire Item 5. A postpetition loan was received from First Insurance Funding Corp. to finance D&O and E&O insurance premiums.
Questionnaire Item 10. Past due amounts are mainly professional fees incurred after the filing date.
INSURANCE
| YES | NO | |||||
| 1. | ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? | X | ||||
| 2. | ARE ALL PREMIUM PAYMENTS PAID CURRENT? | X | ||||
| 3. | PLEASE ITEMIZE POLICIES BELOW. |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO," OR IF ANY POLICIES HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSTALLMENT PAYMENTS
| TYPE OF | PAYMENT AMOUNT | |||||||
| POLICY | CARRIER | PERIOD COVERED | & FREQUENCY | |||||
| Directors & Officers | Illinois National | 09/30/15- 09/30/16 | ||||||
| Errors & Omissions | Indian Harbor | 09/30/15- 09/30/16 | ||||||
| Total for Financed thru | First Insurance Funding Corp | $ | 32,116.09 /month | |||||
| Commercial Package* | Allied Insurance | 06/14/15 - 06/13/16 | $ | 1,066.08 /month | ||||
| Commercial Fine Arts | Travelers Lloyds Insurance | 06/14/15 - 06/14/16 | $ | 285.10 /month | ||||
| Cyber Liability | Beazley Insurance | 05/12/15 - 06/12/16 | $ | 1,104.82 /month | ||||
| * | includes auto, building, edp, excess liability |
| 1 | This obligation has been paid in full. |
| Life Partners Holdings Inc | Exhibit 1 | |
| Distributions made for LPHI Obligations | ||
| Period Ending 9/30/15 | ||
| Number | Date Paid | Vendor | Paid by | Amount Paid | Purpose | |||||||
| wire | 9/29/2015 | Todd Associates, Inc | LPI Financial Services, Inc. | 95,216.36 | Insurance Payment | |||||||
| Total Paid | $ | 95,216.36 | ||||||||||
Exhibit 99.5
| Monthly Operating Report | |
| ACCRUAL BASIS |
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| JUDGE: | Russell Nelms |
UNITED STATES BANKRUPTCY COURT
NORTHERN & EASTERN DISTRICTS OF TEXAS
REGION 6
MONTHLY OPERATING REPORT
| MONTH ENDING: | September | 2015 | ||
| MONTH | YEAR |
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT, AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
RESPONSIBLE PARTY:
| /s/ H. Thomas Moran II | Trustee | |
| ORIGINAL SIGNATURE OF RESPONSIBLE PARTY | TITLE | |
| H. Thomas Moran II | 10/20/2015 | |
| PRINTED NAME OF RESPONSIBLE PARTY | DATE | |
| PREPARER: | ||
| /s/ Colette Pieper | CEO | |
| ORIGINAL SIGNATURE OF PREPARER | TITLE | |
| Colette Pieper | 10/20/2015 | |
| PRINTED NAME OF PREPARER | DATE |
Monthly Operating Report
ACCRUAL BASIS-1
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
COMPARATIVE BALANCE SHEET
SCHEDULE AMOUNT | JULY | AUGUST | SEPTEMBER | ||||||||||||||||
| ASSETS | |||||||||||||||||||
| 1. | UNRESTRICTED CASH | $ | 295,821 | $ | 50,034 | $ | 122,481 | $ | 242,099 | ||||||||||
| 2. | RESTRICTED CASH | $ | 101,555 | $ | 101,584 | $ | 101,599 | $ | 101,613 | ||||||||||
| 3. | TOTAL CASH | $ | 397,376 | $ | 151,618 | $ | 224,080 | $ | 343,712 | ||||||||||
| 4. | ACCOUNTS RECEIVABLE (NET) | $ | 143,949 | $ | 135,456 | $ | 135,456 | $ | 135,456 | ||||||||||
| 5. | INVENTORY | ||||||||||||||||||
| 6. | NOTES RECEIVABLE | $ | 8,912 | ||||||||||||||||
| 7. | PREPAID EXPENSES | $ | 343,387 | $ | 94,558 | $ | 117,417 | $ | 124,649 | ||||||||||
| 8. | OTHER (ATTACH LIST) | $ | 49,475 | $ | 56,956 | $ | 58,153 | $ | 58,696 | ||||||||||
| 9. | TOTAL CURRENT ASSETS | $ | 943,098 | $ | 438,588 | $ | 535,106 | $ | 662,514 | ||||||||||
| 10. | PROPERTY, PLANT & EQUIPMENT | $ | 2,229,987 | $ | 2,229,987 | $ | 1,996,382 | 3 | |||||||||||
| 11. | LESS: ACCUMULATED DEPRECIATION/DEPLETION | $ | (1,917,345 | ) | $ | (1,923,673 | ) | $ | (1,874,992 | ) | 3 | ||||||||
| 12. | NET PROPERTY, PLANT & EQUIPMENT | $ | 299,672 | $ | 312,642 | $ | 306,314 | $ | 121,390 | ||||||||||
| 13. | DUE FROM INSIDERS | $ | 74,265,951 | $ | 0 | $ | 0 | $ | 0 | ||||||||||
| 14. | OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) | $ | 662,950 | $ | 662,950 | $ | 662,950 | $ | 662,950 | ||||||||||
| 15. | OTHER (ATTACH LIST) | $ | 13,513,629 | $ | 13,311,061 | $ | 13,314,901 | $ | 13,246,192 | ||||||||||
| 16. | TOTAL ASSETS | $ | 89,685,300 | $ | 14,725,240 | $ | 14,819,271 | $ | 14,693,046 | ||||||||||
| POSTPETITION LIABILITIES | |||||||||||||||||||
| 17. | ACCOUNTS PAYABLE | $ | 532,781 | $ | 291,016 | $ | 1,329,537 | 4 | |||||||||||
| 18. | TAXES PAYABLE | $ | 12,070 | $ | 10,568 | $ | 13,551 | 5 | |||||||||||
| 19. | NOTES PAYABLE | $ | 0 | $ | 0 | ||||||||||||||
| 20. | PROFESSIONAL FEES | $ | 738,528 | $ | 2,314,197 | $ | 2,923,067 | ||||||||||||
| 21. | SECURED DEBT | $ | 0 | $ | 0 | ||||||||||||||
| 22. | OTHER (ATTACH LIST) | $ | 5,150,207 | $ | 5,161,945 | $ | 5,182,720 | ||||||||||||
| 23. | TOTAL POSTPETITION LIABILITIES | $ | 6,433,586 | $ | 7,777,726 | $ | 9,448,874 | ||||||||||||
| PREPETITION LIABILITIES | |||||||||||||||||||
| 24. | SECURED DEBT | undetermined | $ | 8,476 | $ | 8,476 | $ | 5,976 | 2 | ||||||||||
| 25. | PRIORITY DEBT | undetermined | $ | 90,306 | $ | 90,306 | $ | 90,306 | |||||||||||
| 26. | UNSECURED DEBT | $ | 9,203,450 | $ | 686,751 | $ | 686,751 | $ | 686,492 | 6 | |||||||||
| 27. | OTHER (ATTACH LIST) | $ | 0 | $ | 0 | $ | 0 | ||||||||||||
| 28. | TOTAL PREPETITION LIABILITIES | $ | 9,203,450 | $ | 785,533 | $ | 785,533 | $ | 782,773 | ||||||||||
| 29. | TOTAL LIABILITIES | $ | 9,203,450 | $ | 7,219,119 | $ | 8,563,258 | $ | 10,231,647 | ||||||||||
| EQUITY | |||||||||||||||||||
| 30. | PREPETITION OWNERS' EQUITY | $ | 78,978,770 | $ | 78,978,770 | $ | 78,978,770 | ||||||||||||
| 31. | POSTPETITION CUMULATIVE PROFIT OR (LOSS) | $ | (2,345,577 | ) | $ | (4,262,686 | ) | $ | (6,440,232 | ) | |||||||||
| 32. | DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) | $ | (69,127,072 | ) | $ | (68,460,072 | ) | $ | (68,077,139 | ) | 1 | ||||||||
| 33. | TOTAL EQUITY | $ | 7,506,121 | $ | 6,256,012 | $ | 4,461,399 | ||||||||||||
| 34. | TOTAL LIABILITIES & OWNERS' EQUITY | $ | 14,725,240 | $ | 14,819,271 | $ | 14,693,046 | ||||||||||||
| 1 This includes the following intercompany amounts: | |||||||||||||||||||
| Due from Life Partners Holdings, Inc. | $ | 74,542,141.61 | |||||||||||||||||
| Due from LPHI Management Services | $ | 11,719.74 | |||||||||||||||||
| Due to LPI Financial Services, Inc. | $ | (6,476,722.17 | ) | ||||||||||||||||
| $ | 68,077,139.18 | ||||||||||||||||||
| 2 | Item 24. Secured Debt is accrued property taxes for the prepetition period of Jan. 1, 2015 thru May 19, 2015. The reduction shown in September is the collection of property taxes at the time of the sale of airport hangar for this prepetition period. |
| 3 | The airport hangar was carried as an asset on Life Partners, Inc. books, but it was owned by Life Partners Holdings, Inc. Since this asset & the foxcart equipment have been sold, they were removed from the assets on the books of LPI. The proceeds and gain on sale of the hangar were recorded on the books of LPHI since LPHI was the owner. |
| 4 | Item 17. Accounts Payables includes $973,357.28 of EPIQ Bankruptcy Solutions invoices that were entered in September for services performed in July & August. These amounts were included in Item 20. Professional Fees in previous months. |
| 5 | See footnote 1 on MOR-2 |
| 6 | See explanation on MOR-7 for Questionnaire Item 4. |
Monthly Operating Report
SUPPLEMENT TO
ACCRUAL BASIS-1
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
COMPARATIVE BALANCE SHEET
SCHEDULE AMOUNT | JULY | AUGUST | SEPTEMBER | |||||||||||||||
| 8. OTHER CURRENT ASSETS | ||||||||||||||||||
| 8. | Pardo Family Holdings Trust (Advance to Price L. Johnson, PC) | $ | 25,000 | $ | 25,000 | $ | 25,000 | $ | 25,000 | |||||||||
| 8. | Pardo Family Holdings Trust (Advance to Kyle, Mathis & Lucas, LLP) | $ | 15,505 | $ | 15,505 | $ | 15,505 | $ | 15,505 | |||||||||
| 8. | ESP Communications Duplicate Payment | $ | 7,500 | $ | 7,500 | $ | 7,500 | $ | 7,500 | |||||||||
| 8. | Advance Trust & Life Escrow Services, LTA (Abandonment Premiums) | $ | 5,064 | $ | 5,064 | $ | 5,064 | |||||||||||
| 8. | Purchase Escrow Services (Abandonment Premiums) | $ | 3,429 | $ | 3,429 | $ | 3,429 | |||||||||||
| 8. | Employee Advances | $ | 992 | $ | (20 | ) | $ | 659 | ||||||||||
| 8. | Notes Receivable-Employee | $ | 477 | $ | 477 | $ | 1,655 | $ | 1,539 | |||||||||
| 8 | ||||||||||||||||||
| 8. | TOTAL - OTHER CURRENT ASSETS | $ | 49,475 | $ | 56,956 | $ | 58,153 | $ | 58,696 | |||||||||
| 14. OTHER ASSETS - NET OF AMORTIZATION | ||||||||||||||||||
| 14. | Woolly Mammoth & Other Prehistoric Artifacts | $ | 662,950 | $ | 662,950 | $ | 662,950 | $ | 662,950 | |||||||||
| 14. | ||||||||||||||||||
| 14. | ||||||||||||||||||
| 14. | ||||||||||||||||||
| 14. | ||||||||||||||||||
| 14. | TOTAL - OTHER ASSETS (Net of Amort.) | $ | 662,950 | $ | 662,950 | $ | 662,950 | $ | 662,950 | |||||||||
| 15. OTHER ASSETS | ||||||||||||||||||
| 15. | TDL, LLC Misappropriation of Foreign Exchange Funds | $ | 257,395 | |||||||||||||||
| 15. | Advance on Premiums paid by PES on behalf of investors | $ | 13,083,062 | $ | 13,541,644 | $ | 13,585,166 | $ | 13,505,182 | |||||||||
| 15. | Advance on Premiums paid by ATLES on behalf of investors | $ | 136,291 | $ | 140,536 | $ | 140,536 | $ | 137,006 | |||||||||
| 15. | Allowance for Bad Debts | $ | (5,476,845 | ) | $ | (5,483,317 | ) | $ | (5,483,317 | ) | ||||||||
| 15. | Overpayments of Commissions Receivable | $ | 36,881 | |||||||||||||||
| 15. | Deferred Income Tax Benefit | $ | 4,632,419 | $ | 4,632,419 | $ | 4,632,419 | |||||||||||
| 15. | Policy Purchase | $ | 161,605 | $ | 123,591 | $ | 123,591 | |||||||||||
| 15. | Capitalized Premiums on Policies Purchased | $ | 295,991 | $ | 300,793 | $ | 315,754 | |||||||||||
| 15. | Deposits | $ | 15,712 | $ | 15,712 | $ | 15,558 | |||||||||||
| 15. | TOTAL - OTHER ASSETS | $ | 13,513,629 | $ | 13,311,061 | $ | 13,314,901 | $ | 13,246,192 | |||||||||
| POSTPETITION LIABILITIES | ||||||||||||||||||
| 22. | Accrued Payroll | $ | 41,456 | $ | 50,305 | $ | 67,803 | |||||||||||
| 22. | Accrued Vacation | $ | 81,236 | $ | 84,125 | $ | 87,402 | |||||||||||
| 22. | Accrued 401K | $ | 0 | $ | 0 | $ | 0 | |||||||||||
| 22. | 401K Loan | $ | 0 | $ | 0 | $ | 0 | |||||||||||
| 22. | Child Support & PR Garnishment | $ | 0 | $ | 0 | $ | 0 | |||||||||||
| 22. | Deferred Revenue | $ | 5,027,515 | $ | 5,027,515 | $ | 5,027,515 | |||||||||||
| 22 | TOTAL - OTHER POSTPETITION LIABILITIES | $ | 5,150,207 | $ | 5,161,945 | $ | 5,182,720 | |||||||||||
Monthly Operating Report
ACCRUAL BASIS-2
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| INCOME STATEMENT | May19-June30 | JULY | AUGUST | SEPTEMBER | |||||||||||||||
| REVENUES | |||||||||||||||||||
| 1. | GROSS REVENUES | ||||||||||||||||||
| 2. | LESS: RETURNS & DISCOUNTS | ||||||||||||||||||
| 3. | NET REVENUE | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||
| COST OF GOODS SOLD | |||||||||||||||||||
| 4. | MATERIAL | $ | 0 | $ | 0 | ||||||||||||||
| 5. | DIRECT LABOR | $ | 0 | $ | 0 | ||||||||||||||
| 6. | DIRECT OVERHEAD | $ | 31,060 | $ | 14,937 | $ | 19,450 | $ | 17,060 | ||||||||||
| 7. | TOTAL COST OF GOODS SOLD | $ | 31,060 | $ | 14,937 | $ | 19,450 | $ | 17,060 | ||||||||||
| 8. | GROSS PROFIT | $ | (31,060 | ) | $ | (14,937 | ) | $ | (19,450 | ) | $ | (17,060 | ) | ||||||
| OPERATING EXPENSES | |||||||||||||||||||
| 9. | OFFICER / INSIDER COMPENSATION | $ | 43,877 | $ | 34,279 | $ | 28,794 | $ | 30,165 | ||||||||||
| 10. | SELLING & MARKETING | $ | 0 | ||||||||||||||||
| 11. | GENERAL & ADMINISTRATIVE | $ | 380,272 | $ | 265,732 | $ | 244,334 | $ | 270,143 | ||||||||||
| 12. | RENT & LEASE | $ | 14,240 | $ | 18,452 | $ | 17,098 | $ | 14,178 | ||||||||||
| 13. | OTHER (ATTACH LIST) | $ | 80,533 | $ | 139,091 | $ | 38,302 | $ | 8,558 | ||||||||||
| 14. | TOTAL OPERATING EXPENSES | $ | 518,922 | $ | 457,554 | $ | 328,529 | $ | 323,044 | ||||||||||
| 15. | INCOME BEFORE NON-OPERATING INCOME & EXPENSE | $ | (549,982 | ) | $ | (472,491 | ) | $ | (347,979 | ) | $ | (340,104 | ) | ||||||
| OTHER INCOME & EXPENSES | |||||||||||||||||||
| 16. | NON-OPERATING INCOME (ATTACH LIST) | $ | (33 | ) | $ | (56 | ) | $ | (11,490 | ) | $ | (8,929 | ) | ||||||
| 17. | NON-OPERATING EXPENSE (ATTACH LIST) | $ | 0 | ||||||||||||||||
| 18. | INTEREST EXPENSE | $ | 3 | ||||||||||||||||
| 19. | DEPRECIATION / DEPLETION | $ | 13,960 | $ | 6,980 | $ | 6,327 | $ | 6,871 | ||||||||||
| 20. | AMORTIZATION | $ | 0 | ||||||||||||||||
| 21. | OTHER (ATTACH LIST) | $ | 2,300 | $ | 7,593 | $ | (1,502 | ) | $ | 4,082 | 1 | ||||||||
| 22. | NET OTHER INCOME & EXPENSES | $ | 16,227 | $ | 14,517 | $ | (6,664 | ) | $ | 2,027 | |||||||||
| REORGANIZATION EXPENSES | |||||||||||||||||||
| 23. | PROFESSIONAL FEES | $ | 501,083 | $ | 781,528 | $ | 1,575,668 | $ | 1,832,459 | ||||||||||
| 24. | U.S. TRUSTEE FEES | $ | 4,875 | $ | 4,875 | $ | 2,956 | ||||||||||||
| 25. | OTHER (ATTACH LIST) | $ | 126 | $ | 0 | ||||||||||||||
| 26. | TOTAL REORGANIZATION EXPENSES | $ | 505,958 | $ | 786,403 | $ | 1,575,794 | $ | 1,835,415 | ||||||||||
| 27. | INCOME TAX | ||||||||||||||||||
| 28. | NET PROFIT (LOSS) | $ | (1,072,167 | ) | $ | (1,273,410 | ) | $ | (1,917,109 | ) | $ | (2,177,546 | ) | ||||||
| 1 | The figure shown here for August has been revised for an entry to reduce accrued Franchise Tax that did not get reported on August MOR-1 Item 18. & MOR-2 Item 21. |
Monthly Operating Report
SUPPLEMENT TO
ACCRUAL BASIS-2
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| INCOME STATEMENT | JUNE | JULY | AUGUST | SEPTEMBER | |||||||||||||||
| OTHER OPERATING EXPENSES | |||||||||||||||||||
| 13. | Bad Debt Expense | $ | 68,455 | $ | 120,008 | ||||||||||||||
| 13. | Other Expense- Premium Expense | $ | 10,942 | $ | 18,143 | $ | 289 | $ | 8,558 | ||||||||||
| 13. | Other Expense- BK Premiums | $ | 1,136 | $ | 941 | ||||||||||||||
| 13. | Impairment Expense | $ | - | $ | - | $ | 38,013 | $ | - | ||||||||||
| 13. | TOTAL - OTHER OPERATING EXPENSE | $ | 80,533 | $ | 139,091 | $ | 38,302 | $ | 8,558 | ||||||||||
| NON-OPERATING INCOME | |||||||||||||||||||
| 16. | Interest Income | $ | 29 | $ | 15 | $ | 11,490 | $ | 3,883 | ||||||||||
| 16. | Other Income | $ | 4 | $ | 42 | $ | 46 | ||||||||||||
| 16. | Gain on Sale of Assets | $ | 5,000 | 1 | |||||||||||||||
| 16. | |||||||||||||||||||
| 16. | |||||||||||||||||||
| 16. | TOTAL NON-OPERATING INCOME | $ | 33 | $ | 56 | $ | 11,490 | $ | 8,929 | ||||||||||
| NON-OPERATING EXPENSE | |||||||||||||||||||
| 17. | |||||||||||||||||||
| 17. | |||||||||||||||||||
| 17. | |||||||||||||||||||
| 17. | |||||||||||||||||||
| 17. | |||||||||||||||||||
| 17. | TOTAL NON-OPERATING EXPENSE | $ | - | $ | - | $ | - | $ | - | ||||||||||
| OTHER EXPENSE | |||||||||||||||||||
| 21. | Franchise Tax | $ | 7,593 | $ | (1,502 | ) | $ | 4,082 | |||||||||||
| 21. | State Income Tax-Other | $ | 2,300 | $ | - | $ | - | ||||||||||||
| 21. | |||||||||||||||||||
| 21. | |||||||||||||||||||
| 21. | |||||||||||||||||||
| 21. | TOTAL OTHER EXPENSE | $ | 2,300 | $ | 7,593 | $ | (1,502 | ) | $ | 4,082 | |||||||||
| OTHER REORGANIZATION EXPENSES | |||||||||||||||||||
| 25. | Transcription Services | $ | 126 | ||||||||||||||||
| 25. | |||||||||||||||||||
| 25. | |||||||||||||||||||
| 25. | |||||||||||||||||||
| 25. | |||||||||||||||||||
| 25. | TOTAL OTHER REORGANIZATION EXP | $ | - | $ | - | $ | 126 | $ | - | ||||||||||
| 1 | Gain on sale of foxcart equipment sold along with the airport hangar pursuant to court order. |
Monthly Operating Report
ACCRUAL BASIS-3
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| CASH RECEIPTS AND DISBURSEMENTS | JULY | AUGUST | SEPTEMBER | QUARTER | |||||||||||||||
| 1. | CASH - BEGINNING OF MONTH | $ | 265,232 | $ | 151,618 | $ | 224,080 | ||||||||||||
| RECEIPTS FROM OPERATIONS | |||||||||||||||||||
| 2. | CASH SALES | $ | 0 | ||||||||||||||||
| COLLECTION OF ACCOUNTS RECEIVABLE | |||||||||||||||||||
| 3. | PREPETITION | $ | 37 | $ | 124 | $ | 161 | ||||||||||||
| 4. | POSTPETITION | $ | 267,147 | $ | 267,147 | ||||||||||||||
| 5. | TOTAL OPERATING RECEIPTS | $ | 37 | $ | 124 | $ | 267,147 | $ | 267,308 | ||||||||||
| NON-OPERATING RECEIPTS | |||||||||||||||||||
| 6. | LOANS & ADVANCES (ATTACH LIST) | $ | 0 | ||||||||||||||||
| 7. | SALE OF ASSETS | $ | 5,000 | $ | 5,000 | 1 | |||||||||||||
| 8. | OTHER (ATTACH LIST) | $ | 815,868 | $ | 713,551 | $ | 370,531 | $ | 1,899,950 | ||||||||||
| 9. | TOTAL NON-OPERATING RECEIPTS | $ | 815,868 | $ | 713,551 | $ | 375,531 | $ | 1,904,950 | ||||||||||
| 10. | TOTAL RECEIPTS | $ | 815,905 | $ | 713,675 | $ | 642,678 | $ | 2,172,258 | ||||||||||
| 11. | TOTAL CASH AVAILABLE | $ | 1,081,137 | $ | 865,293 | $ | 866,758 | ||||||||||||
| OPERATING DISBURSEMENTS | |||||||||||||||||||
| 12. | NET PAYROLL | $ | 170,683 | $ | 112,468 | $ | 114,878 | $ | 398,029 | ||||||||||
| 13. | PAYROLL TAXES PAID | $ | 59,905 | $ | 39,049 | $ | 36,818 | $ | 135,772 | ||||||||||
| 14. | SALES, USE & OTHER TAXES PAID | $ | 191 | $ | 191 | ||||||||||||||
| 15. | SECURED / RENTAL / LEASES | $ | 18,362 | $ | 7,137 | $ | 24,583 | $ | 50,082 | ||||||||||
| 16. | UTILITIES | $ | 26,063 | $ | 10,024 | $ | 10,339 | $ | 46,426 | ||||||||||
| 17. | INSURANCE | $ | 67,418 | $ | 62,429 | $ | 27,738 | $ | 157,585 | ||||||||||
| 18. | INVENTORY PURCHASES | $ | 0 | ||||||||||||||||
| 19. | VEHICLE EXPENSES | $ | 125 | $ | 125 | ||||||||||||||
| 20. | TRAVEL | $ | 1,658 | $ | 1,188 | $ | 2,137 | $ | 4,983 | ||||||||||
| 21. | ENTERTAINMENT | $ | 0 | ||||||||||||||||
| 22. | REPAIRS & MAINTENANCE | $ | 2,900 | $ | 4,487 | $ | 4,312 | $ | 11,699 | ||||||||||
| 23. | SUPPLIES | $ | 1,565 | $ | 195 | $ | 2,131 | $ | 3,891 | ||||||||||
| 24. | ADVERTISING | $ | 0 | ||||||||||||||||
| 25. | OTHER (ATTACH LIST) | $ | 481,647 | $ | 129,111 | $ | 291,516 | $ | 902,274 | ||||||||||
| 26. | TOTAL OPERATING DISBURSEMENTS | $ | 830,202 | $ | 366,087 | $ | 514,768 | $ | 1,711,056 | ||||||||||
| REORGANIZATION EXPENSES | |||||||||||||||||||
| 27. | PROFESSIONAL FEES | $ | 98,992 | $ | 275,000 | $ | 6,000 | $ | 379,992 | ||||||||||
| 28. | U.S. TRUSTEE FEES | $ | 325 | $ | 2,278 | $ | 2,603 | ||||||||||||
| 29. | OTHER (ATTACH LIST) | $ | 126 | $ | 0 | $ | 126 | 2 | |||||||||||
| 30. | TOTAL REORGANIZATION EXPENSES | $ | 99,317 | $ | 275,126 | $ | 8,278 | $ | 382,722 | ||||||||||
| 31. | TOTAL DISBURSEMENTS | $ | 929,519 | $ | 641,213 | $ | 523,046 | $ | 2,093,778 | ||||||||||
| 32. | NET CASH FLOW | $ | (113,614 | ) | $ | 72,462 | $ | 119,632 | $ | 78,480 | |||||||||
| 33. | CASH - END OF MONTH | $ | 151,618 | $ | 224,080 | $ | 343,712 | ||||||||||||
| 1 | Proceeds from sale of foxcart equipment sold pursuant to court order. |
| 2 | Other Item 29. is transcription services. |
Monthly Operating Report
SUPPLEMENT TO
ACCRUAL BASIS-3
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| CASH RECEIPTS AND DISBURSEMENTS | JULY | AUGUST | SEPTEMBER | QUARTER | ||||||||||||||
| OTHER NON-OPERATING RECEIPTS | ||||||||||||||||||
| 8. | A/R Collections-Pd in Error | $ | - | $ | - | $ | - | |||||||||||
| 8. | Flow Thru Premiums | $ | - | $ | - | $ | 14,627 | $ | 14,627 | |||||||||
| 8. | Transfer From LPIFS Checking Acct# 4069 | $ | 800,000 | $ | 700,000 | $ | 350,000 | $ | 1,850,000 | |||||||||
| 8. | Interest Income | $ | 15 | $ | 11,485 | $ | 3,879 | $ | 15,378 | |||||||||
| 8. | LPI FS Platform Fees Received | $ | - | $ | - | $ | - | |||||||||||
| 8. | Other Inc-dividends on pd out policies | $ | 42 | $ | - | $ | 46 | $ | 87 | |||||||||
| 8. | Other Income | $ | - | $ | - | $ | - | |||||||||||
| 8. | Return of retainer | $ | 15,000 | $ | - | $ | 15,000 | |||||||||||
| 8. | Reimbursements & Refunds-COBRA insurance | $ | 412 | $ | 2,029 | $ | 1,944 | $ | 4,386 | |||||||||
| 8. | Reimbursements & Refunds-Employee Advance | $ | 20 | $ | - | $ | 20 | |||||||||||
| 8. | Reimbursements & Refunds-License & Fees | $ | 9 | $ | - | $ | 9 | |||||||||||
| 8. | Reimbursements & Refunds-Travel | $ | 370 | $ | - | $ | 36 | $ | 406 | |||||||||
| 8. | Reimbursements & Refunds-Other | $ | - | $ | 37 | $ | 37 | |||||||||||
| 8. | Transfer from LPIFS | $ | - | $ | - | $ | - | |||||||||||
| 8. | Transferred from LPHI BoTX Acct | $ | - | $ | - | $ | - | |||||||||||
| 8. | Trust Fees | $ | - | $ | - | $ | - | |||||||||||
| 8. | Total - Non-Operating Receipts | $ | 815,868 | $ | 713,551 | $ | 370,531 | $ | 1,899,950 | |||||||||
| OTHER OPERATING DISBURSEMENTS | ||||||||||||||||||
| 25. | Premiums Advanced | $ | 350,503 | $ | 43,935 | $ | 192,190 | $ | 586,629 | |||||||||
| 25. | Premiums-LPI Owned positions | $ | 20,901 | $ | 4,803 | $ | 25,703 | |||||||||||
| 25. | Bank Fees (Charged & Reversed) | $ | 555 | $ | 670 | $ | 340 | $ | 1,565 | |||||||||
| 25. | BK Premiums | $ | 941 | $ | - | $ | 941 | |||||||||||
| 25. | Courier Services | $ | 5,486 | $ | - | $ | 1,011 | $ | 6,497 | |||||||||
| 25. | Flow Thru Premiums | $ | 18,017 | $ | - | $ | 10,711 | $ | 28,729 | |||||||||
| 25. | Licenses & Fees | $ | 31 | $ | 500 | $ | 503 | $ | 1,034 | |||||||||
| 25. | LPI FS Platform Fees Forwarded | $ | - | $ | - | $ | - | |||||||||||
| 25. | Medical Records | $ | - | $ | - | $ | 337 | $ | 337 | |||||||||
| 25. | Medical Review Life Expectancy | $ | 700 | $ | - | $ | 700 | |||||||||||
| 25. | Outside Services | $ | 2,608 | $ | 1,783 | $ | 1,982 | $ | 6,373 | |||||||||
| 25. | Payroll Garnishment | $ | 456 | $ | 304 | $ | 304 | $ | 1,063 | |||||||||
| 25. | Payroll-401K deductions | $ | 13,796 | $ | 9,290 | $ | 9,412 | $ | 32,498 | |||||||||
| 25. | PES Operating Exp | $ | 34,235 | $ | 29,471 | $ | 35,556 | $ | 99,261 | |||||||||
| 25. | Software Licenses & Support | $ | - | $ | 5,152 | $ | 4,497 | $ | 9,649 | |||||||||
| 25. | Policy Administration Expense | $ | - | $ | 11,465 | $ | 17,618 | $ | 29,083 | |||||||||
| 25. | Subscriptions | $ | 5,109 | $ | 951 | $ | 213 | $ | 6,274 | |||||||||
| 25. | Tfrd to LPHI BoTX Acct in error | $ | - | $ | - | $ | - | |||||||||||
| 25. | Trust Fees/Cost Reimbursement | $ | 28,308 | $ | 19,487 | $ | 16,824 | $ | 64,618 | |||||||||
| 25. | Employee Loan & Advances | $ | - | $ | 1,300 | $ | 20 | $ | 1,320 | |||||||||
| 25. | Total - Other Operating Disbursements | $ | 481,647 | $ | 129,111 | $ | 291,516 | $ | 902,274 | |||||||||
| OTHER REORGANIZATION EXPENSES | ||||||||||||||||||
| 29. | Transcription Services | $ | 126 | $ | 126 | |||||||||||||
| 29. | $ | - | ||||||||||||||||
| 29. | $ | - | ||||||||||||||||
| 29. | Total - Other Reorganization Expenses | $ | - | $ | 126 | $ | - | $ | 126 | |||||||||
Monthly Operating Report
ACCRUAL BASIS-4
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| ACCOUNTS RECEIVABLE AGING | SCHEDULE AMOUNT | JULY | AUGUST | SEPTEMBER | ||||||||||||||||
| 1. | 0-30 | $ | 139,890 | $ | 332,514 | $ | 43,274 | $ | 32,834 | |||||||||||
| 2. | 31-60 | $ | 279,914 | $ | 160,126 | $ | 280,577 | $ | 11,534 | |||||||||||
| 3. | 61-90 | $ | 77,762 | $ | 44,627 | $ | 212,053 | $ | 195,541 | |||||||||||
| 4. | 91+ | $ | 12,721,787 | $ | 13,145,171 | $ | 13,189,797 | $ | 13,402,278 | |||||||||||
| 5. | TOTAL ACCOUNTS RECEIVABLE | $ | 13,219,353 | $ | 13,682,437 | $ | 13,725,702 | $ | 13,642,187 | 1 | ||||||||||
| 6. | AMOUNT CONSIDERED UNCOLLECTIBLE | $ | 5,163,790 | $ | 5,476,845 | $ | 5,483,317 | $ | 5,483,317 | 1 | ||||||||||
| 7. | ACCOUNTS RECEIVABLE (NET) | $ | 8,055,563 | $ | 8,205,592 | $ | 8,242,385 | $ | 8,158,870 | 1 | ||||||||||
| AGING OF POSTPETITION TAXES AND PAYABLES | MONTH: | September 2015 | ||||||||||||||||||||||
| 0-30 | 31-60 | 61-90 | 91+ | |||||||||||||||||||||
| TAXES PAYABLE | DAYS | DAYS | DAYS | DAYS | TOTAL | |||||||||||||||||||
| 1. | FEDERAL | $ | 0 | |||||||||||||||||||||
| 2. | STATE | $ | 10,173 | $ | 10,173 | |||||||||||||||||||
| 3. | LOCAL | $ | 3,377 | $ | 3,377 | |||||||||||||||||||
| 4. | OTHER (ATTACH LIST) | $ | 0 | |||||||||||||||||||||
| 5. | TOTAL TAXES PAYABLE | $ | 13,551 | $ | 0 | $ | 0 | $ | 0 | $ | 13,551 | |||||||||||||
| 6. | ACCOUNTS PAYABLE | $ | 186,145 | $ | 454,725 | $ | 652,475 | $ | 36,191 | $ | 1,329,537 | |||||||||||||
| STATUS OF POSTPETITION TAXES | MONTH: | September 2015 | ||||||||||||||||||
| BEGINNING | AMOUNT | ENDING | ||||||||||||||||||
| TAX | WITHHELD AND/ | AMOUNT | TAX | |||||||||||||||||
| FEDERAL | LIABILITY | OR ACCRUED | PAID | LIABILITY | ||||||||||||||||
| 1. | WITHHOLDING | $ | 16,934 | $ | 16,934 | $ | 0 | |||||||||||||
| 2. | FICA-EMPLOYEE | $ | 9,914 | $ | 9,914 | $ | 0 | |||||||||||||
| 3. | FICA-EMPLOYER | $ | 9,914 | $ | 9,914 | $ | 0 | |||||||||||||
| 4. | UNEMPLOYMENT | $ | 0 | |||||||||||||||||
| 5. | INCOME | $ | 0 | |||||||||||||||||
| 6. | OTHER (ATTACH LIST) | $ | 0 | |||||||||||||||||
| 7. | TOTAL FEDERAL TAXES | $ | 0 | $ | 36,763 | $ | 36,763 | $ | 0 | |||||||||||
| STATE AND LOCAL | ||||||||||||||||||||
| 8. | WITHHOLDING | $ | 0 | |||||||||||||||||
| 9. | SALES | $ | 0 | |||||||||||||||||
| 10. | EXCISE | $ | 0 | |||||||||||||||||
| 11. | UNEMPLOYMENT | $ | 55 | $ | 55 | $ | 0 | |||||||||||||
| 12. | REAL PROPERTY | $ | 2,004 | $ | 2,004 | $ | 0 | |||||||||||||
| 13. | PERSONAL PROPERTY | $ | 2,473 | $ | 905 | $ | 3,377 | 2 | ||||||||||||
| 14. | OTHER (ATTACH LIST) | $ | 6,091 | $ | 4,082 | $ | 10,173 | 3 | ||||||||||||
| 15. | TOTAL STATE & LOCAL | $ | 10,568 | $ | 5,041 | $ | 2,059 | $ | 13,551 | |||||||||||
| 16. | TOTAL TAXES | $ | 10,568 | $ | 41,804 | $ | 38,822 | $ | 13,551 | |||||||||||
| 1 | These amounts are reported in detail on SUPPLEMENT TO MOR-1 under Item 15. Other Assets. |
| 2 | The figures shown here do not include $5975.51 accrued for the prepetition period of Jan. 1, 2015 thru May 19, 2015. |
| 3 | Item 14. Other is accrual of Texas Franchise Tax. |
Monthly Operating Report
ACCRUAL BASIS-5
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH: | September 2015 | |||||||||||||||||
| BANK RECONCILIATIONS | ||||||||||||||||||
| Account #1 | Account #2 | Account #3 | ||||||||||||||||
| A. BANK: | Bank of Texas | Bank of Texas | ||||||||||||||||
| B. ACCOUNT NUMBER: | 4080 | 4091 | ||||||||||||||||
| C. PURPOSE (TYPE): | Checking | Checking | TOTAL | |||||||||||||||
| 1. | BALANCE PER BANK STATEMENT | $ | 246,889 | $ | 4,357 | $ | 251,246 | |||||||||||
| 2. | ADD: TOTAL DEPOSITS NOT CREDITED | $ | 0 | |||||||||||||||
| 3. | SUBTRACT: OUTSTANDING CHECKS | $ | 9,647 | $ | 9,647 | |||||||||||||
| 4. | OTHER RECONCILING ITEMS | $ | 0 | |||||||||||||||
| 5. | MONTH END BALANCE PER BOOKS | $ | 237,242 | $ | 4,357 | $ | 0 | $ | 241,599 | |||||||||
| 6. | NUMBER OF LAST CHECK WRITTEN | 1282 | 1013 | |||||||||||||||
INVESTMENT ACCOUNTS
| DATE OF | TYPE OF | PURCHASE | CURRENT | |||||||||||||||
| BANK, ACCOUNT NAME & NUMBER | PURCHASE | INSTRUMENT | PRICE | VALUE | ||||||||||||||
| 7. | TD Bank, Life Partners, Inc. Acct 70-T202-01-2 | unknown | MoneyMarket | $ | 101,613 | |||||||||||||
| 8. | ||||||||||||||||||
| 9. | ||||||||||||||||||
| 10. | ||||||||||||||||||
| 11. | TOTAL INVESTMENTS | $ | 0 | $ | 101,613 | |||||||||||||
| CASH | ||||||
| 12. | CURRENCY ON HAND | $ | 500 | |||
| 13. | TOTAL CASH - END OF MONTH | $ | 343,712 | |||
Monthly Operating Report
ACCRUAL BASIS-6
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH: | September 2015 |
PAYMENTS TO INSIDERS AND PROFESSIONALS
| INSIDERS | ||||||||||||
| TYPE OF | AMOUNT | TOTAL PAID | ||||||||||
| NAME | PAYMENT | PAID | TO DATE | |||||||||
| 1. | Mark Embry | Salaries/Expense Reimbursement | $ | 13,538 | $ | 47,715 | ||||||
| 2. | Advance Trust & Life Es | Premium Remittance/Cost Reimb | $ | 27,921 | $ | 116,973 | ||||||
| 3. | Life Partners Holdings, Inc. | Rent & Return deposit in error | $ | 20,500 | $ | 101,898 | ||||||
| 4. | LPI Financial Services, Inc. | Forward Platform Fees | $ | 1,938 | ||||||||
| 5. | Purchase Escrow Services, LLC | Premium Remittance/Cost Reimb | $ | 227,360 | $ | 1,199,362 | ||||||
| 6. | Colette Pieper | Salaries/Expense Reimbursement | $ | 13,962 | $ | 49,097 | ||||||
| 7. | Debora J. Carr | Salaries/Expense Reimbursement | $ | 3,750 | $ | 13,125 | ||||||
| 8. | TOTAL PAYMENTS TO INSIDERS | $ | 307,030 | $ | 1,530,108 | |||||||
| PROFESSIONALS | 2 | ||||||||||||||||||||
| DATE OF COURT | TOTAL | ||||||||||||||||||||
| ORDER AUTHORIZING | AMOUNT | AMOUNT | TOTAL PAID | INCURRED | |||||||||||||||||
| NAME | PAYMENT | APPROVED | PAID | TO DATE | & UNPAID | ||||||||||||||||
| 1. | Asset Servicing Group | $ | 466,656 | ||||||||||||||||||
| 2. | Bridgepoint Consulting | $ | 417,920 | ||||||||||||||||||
| 3. | Epiq Bankruptcy Solutions | 05/22/15 | $ | 2,103,953 | $ | 184,781 | $ | 533,773 | $ | 1,570,180 | 4 | ||||||||||
| 4. | Kim Hinkle, Attorney at Law | $ | 118,726 | ||||||||||||||||||
| 5. | MMS Advisors | $ | 217,600 | 3 | |||||||||||||||||
| 6. | Munsch, Hardt, Kopf & Harr,P.C. | $ | 753,000 | ||||||||||||||||||
| 7. | Thompson & Knight LLP | $ | 3,967,500 | ||||||||||||||||||
| 8. | Tom Moran, US Trustee | $ | 288,900 | ||||||||||||||||||
| 9. | Phillips Murrah | $ | 156,334 | ||||||||||||||||||
| 10. | Smith, Jackson, Boyer & Brovard, PLLC | $ | 35,866 | ||||||||||||||||||
| 11. | Inventus, LLC | $ | 25,000 | $ | 25,000 | ||||||||||||||||
| 12. | First Advantage Litigation | $ | 6,000 | $ | 6,000 | $ | 6,000 | ||||||||||||||
| 13. | Predictive Resources | $ | 22,500 | ||||||||||||||||||
| 14. | TOTAL PAYMENTS TO PROFESSIONALS | $ | 190,781 | $ | 564,773 | $ | 8,046,183 | ||||||||||||||
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
| SCHEDULED | AMOUNTS | ||||||||||||||
| MONTHLY | PAID | TOTAL | |||||||||||||
| PAYMENTS | DURING | UNPAID | |||||||||||||
| NAME OF CREDITOR | DUE | MONTH | POSTPETITION | ||||||||||||
| 1. | Pitney Bowes Global Financial Services, LLC | $ | 5,423 | $ | 0 | $ | 0 | 1 | |||||||
| 2. | Pitney Bowes Global Financial Services, LLC | $ | 906 | $ | 0 | $ | 0 | 1 | |||||||
| 3. | Johnnies Office Systems, Inc. | $ | 1,055 | $ | 1,055 | $ | 0 | ||||||||
| 4. | Great America Financial Services | $ | 2,939 | $ | 2,939 | $ | 0 | ||||||||
| 5. | Life Partners Holdings, Inc. | $ | 10,000 | $ | 20,500 | $ | 0 | ||||||||
| 6. | TOTAL | $ | 20,323 | $ | 24,493 | $ | 0 | ||||||||
| 1 | These lease payments are quarterly, not monthly. |
| 2 | Professional fees and expenses estimated and accrued prior to May 19th are reflected only on the books of Life Partners Holdings, Inc. Thereafter, professional fees and expenses reflect the estimated aggregate, unallocated fees and expenses for all of the Debtors, and are noted on each of the Debtors MORs. |
| 3 | MMS Advisors incurred fees and expenses March 13th - May 18th in the estimated amount of $230,000.00 that are not included here since their retention has not been approved for this period of time. |
| 4 | Current month Amount Paid was paid by LPI Financial Services, Inc. |
Monthly Operating Report
ACCRUAL BASIS-7
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH: | September 2015 |
QUESTIONNAIRE
| YES | NO | |||||
| 1. | HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? | X | ||||
| 2. | HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? | X | ||||
| 3. | ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? | X | ||||
| 4. | HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? | X | ||||
| 5. | HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? | X | ||||
| 6. | ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? | X | ||||
| 7. | ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? | X | ||||
| 8. | ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? | X | ||||
| 9. | ARE ANY OTHER POSTPETITION TAXES PAST DUE? | X | ||||
| 10. | ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? | X | ||||
| 11. | HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? | X | ||||
| 12. | ARE ANY WAGE PAYMENTS PAST DUE? | X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES," PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
Item 1. The aiport hanger & related foxcart equipment were sold pursuant to court order.
Item 4. Paid prepetition invoices from Pitney Bowes Global Financial Services for property taxes due under lease of mailing equipment ($159.58) and from Dr. John Goodhew to obtain attending physicians statement required to keep insurance policy in force ($100.00).
Questionnaire Item 10. Past due amounts are mainly professional fees incurred after the filing date.
Item 11. Accrued property taxes for the prepetition period of Jan 1, 2015 thru May 19, 2015, were collected at the time of the sale of the airport hangar.
INSURANCE
| YES | NO | |||||
| 1. | ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER | X | ||||
| NECESSARY INSURANCE COVERAGES IN EFFECT? | ||||||
| 2. | ARE ALL PREMIUM PAYMENTS PAID CURRENT? | X | ||||
| 3. | PLEASE ITEMIZE POLICIES BELOW. |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO," OR IF ANY POLICIES HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSTALLMENT PAYMENTS
| TYPE OF | PAYMENT AMOUNT | |||||||
| POLICY | CARRIER | PERIOD COVERED | & FREQUENCY | |||||
| Workers Compensation | Service Lloyds Ins. Co. | 06/14/2015- 06/14/2016 | $ | 316.00 /month | ||||
Exhibit 99.6
Monthly Operating Report
ACCRUAL BASIS
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| JUDGE: | Russell Nelms |
UNITED STATES BANKRUPTCY COURT
NORTHERN & EASTERN DISTRICTS OF TEXAS
REGION 6
MONTHLY OPERATING REPORT
| MONTH ENDING: | September | 2015 | ||||
| Month | Year |
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT, AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
RESPONSIBLE PARTY:
| /s/ H. Thomas Moran II | Trustee | |
| ORIGINAL SIGNATURE OF RESPONSIBLE PARTY | TITLE | |
| H. Thomas Moran II | 10/20/2015 | |
| PRINTED NAME OF RESPONSIBLE PARTY | DATE | |
| PREPARER: | ||
| /s/ Colette Pieper | CEO | |
| ORIGINAL SIGNATURE OF PREPARER | TITLE | |
| Colette Pieper | 10/20/2015 | |
| PRINTED NAME OF PREPARER | DATE |
Monthly Operating Report
ACCRUAL BASIS-1
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
COMPARATIVE BALANCE SHEET
| SCHEDULE AMOUNT | MONTH July 31, 2015 | MONTH August 31, 2015 | MONTH September 30, 2015 | |||||||||||||
| ASSETS | ||||||||||||||||
| 1. UNRESTRICTED CASH | $ | 1,744,873 | $ | 1,363,573 | $ | 694,146 | $ | 1,090,944 | ||||||||
| 2. RESTRICTED CASH | ||||||||||||||||
| 3. TOTAL CASH | $ | 1,744,873 | $ | 1,363,573 | $ | 694,146 | $ | 1,090,944 | ||||||||
| 4. ACCOUNTS RECEIVABLE (NET) | $ | 2,741,107 | 2 | |||||||||||||
| 5. INVENTORY | ||||||||||||||||
| 6. NOTES RECEIVABLE | ||||||||||||||||
| 7. PREPAID EXPENSES | ||||||||||||||||
| 8. OTHER (ATTACH LIST) | $ | 1,906 | ||||||||||||||
| 9. TOTAL CURRENT ASSETS | $ | 4,485,981 | $ | 1,363,573 | $ | 694,146 | $ | 1,092,849 | ||||||||
| 10. PROPERTY, PLANT & EQUIPMENT | ||||||||||||||||
| 11. LESS: ACCUMULATED DEPRECIATION/DEPLETION | ||||||||||||||||
| 12. NET PROPERTY, PLANT & EQUIPMENT | $ | 0 | $ | 0 | $ | 0 | ||||||||||
| 13. DUE FROM INSIDERS | $ | 4,157,912 | 1 | |||||||||||||
| 14. OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) | ||||||||||||||||
| 15. OTHER (ATTACH LIST) | ||||||||||||||||
| 16. TOTAL ASSETS | $ | 8,643,892 | $ | 1,363,573 | $ | 694,146 | $ | 1,092,849 | ||||||||
| POSTPETITION LIABILITIES | ||||||||||||||||
| 17. ACCOUNTS PAYABLE | $ | 2,660 | $ | 4,840 | $ | 1,906 | ||||||||||
| 18. TAXES PAYABLE | ||||||||||||||||
| 19. NOTES PAYABLE | ||||||||||||||||
| 20. PROFESSIONAL FEES | $ | 194,009 | $ | 227,757 | ||||||||||||
| 21. SECURED DEBT | ||||||||||||||||
| 22. OTHER (ATTACH LIST) | $ | 650 | $ | 650 | $ | 650 | ||||||||||
| 23. TOTAL POSTPETITION LIABILITIES | $ | 3,310 | $ | 199,499 | $ | 230,313 | ||||||||||
| PREPETITION LIABILITIES | ||||||||||||||||
| 24. SECURED DEBT | ||||||||||||||||
| 25. PRIORITY DEBT | unknown | |||||||||||||||
| 26. UNSECURED DEBT | $ | 9,001 | $ | 1,062 | $ | 1,062 | $ | 1,062 | ||||||||
| 27. OTHER (ATTACH LIST) | ||||||||||||||||
| 28. TOTAL PREPETITION LIABILITIES | $ | 9,001 | $ | 1,062 | $ | 1,062 | $ | 1,062 | ||||||||
| 29. TOTAL LIABILITIES | $ | 9,001 | $ | 4,372 | $ | 200,560 | $ | 231,375 | ||||||||
| EQUITY | ||||||||||||||||
| 30. PREPETITION OWNERS' EQUITY | $ | 5,901,723 | $ | 5,901,723 | $ | 5,901,723 | ||||||||||
| 31. POSTPETITION CUMULATIVE PROFIT OR (LOSS) | $ | 668,831 | $ | 503,215 | $ | 1,436,474 | ||||||||||
| 32. DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) | $ | (5,211,353 | ) | $ | (5,911,353 | ) | $ | (6,476,722) | 1 | |||||||
| 33. TOTAL EQUITY | $ | 1,359,202 | $ | 493,586 | $ | 861,475 | ||||||||||
| 34. TOTAL LIABILITIES & OWNERS' EQUITY | $ | 1,363,573 | $ | 694,146 | $ | 1,092,849 | ||||||||||
| 1 | This is Intercompany Due From Life Partners, Inc. reported on Schedule B Item 16 and shown above under Item 13. Due From Insiders. |
| 2 | The Debtor LPIFS records receipts on a cash basis and accordingly, does not carry receivable balances. The Schedules note a receivable balance as if receipts were recorded on an accrual basis as of the petition date. |
Monthly Operating Report
SUPPLEMENT TO
ACCRUAL BASIS-1
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
COMPARATIVE BALANCE SHEET
| SCHEDULE AMOUNT | MONTH July 31, 2015 | MONTH August 31, 2015 | MONTH September 30, 2015 | ||||||||||
| CURRENT ASSETS | |||||||||||||
| 8. PREMIUMS BEING FORWARDED | $ | 0 | $ | 0 | $ | 1,906 | |||||||
| 8 TOTAL OTHER CURRENT ASSETS | $ | 0 | $ | 0 | $ | 1,906 | |||||||
| POSTPETITION LIABILITIES | |||||||||||||
| 22. US TRUSTEE FEES | $ | 650 | $ | 650 | $ | 650 | |||||||
| 22 TOTAL OTHER POSTPETITION LIABILITIES | $ | 650 | $ | 650 | $ | 650 | |||||||
Monthly Operating Report
ACCRUAL BASIS-2
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| INCOME STATEMENT | JUNE | JULY | AUGUST | SEPTEMBER | ||||||||||||
| REVENUES | ||||||||||||||||
| 1. GROSS REVENUES | $ | 644,823 | $ | 43,875 | $ | 52,937 | $ | 1,032,009 | ||||||||
| 2. LESS: RETURNS & DISCOUNTS | ||||||||||||||||
| 3. NET REVENUE | $ | 644,823 | $ | 43,875 | $ | 52,937 | $ | 1,032,009 | ||||||||
| COST OF GOODS SOLD | ||||||||||||||||
| 4. MATERIAL | ||||||||||||||||
| 5. DIRECT LABOR | ||||||||||||||||
| 6. DIRECT OVERHEAD | ||||||||||||||||
| 7. TOTAL COST OF GOODS SOLD | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||
| 8. GROSS PROFIT | $ | 644,823 | $ | 43,875 | $ | 52,937 | $ | 1,032,009 | ||||||||
| OPERATING EXPENSES | ||||||||||||||||
| 9. OFFICER / INSIDER COMPENSATION | ||||||||||||||||
| 10. SELLING & MARKETING | ||||||||||||||||
| 11. GENERAL & ADMINISTRATIVE | $ | 15,570 | $ | 3,322 | $ | 24,543 | $ | 375 | ||||||||
| 12. RENT & LEASE | ||||||||||||||||
| 13. OTHER (ATTACH LIST) | ||||||||||||||||
| 14. TOTAL OPERATING EXPENSES | $ | 15,570 | $ | 3,322 | $ | 24,543 | $ | 375 | ||||||||
| 15. INCOME BEFORE NON-OPERATING INCOME & EXPENSE | $ | 629,253 | $ | 40,553 | $ | 28,393 | $ | 1,031,634 | ||||||||
| OTHER INCOME & EXPENSES | ||||||||||||||||
| 16. NON-OPERATING INCOME (ATTACH LIST) | ||||||||||||||||
| 17. NON-OPERATING EXPENSE (ATTACH LIST) | ||||||||||||||||
| 18. INTEREST EXPENSE | ||||||||||||||||
| 19. DEPRECIATION / DEPLETION | ||||||||||||||||
| 20. AMORTIZATION | ||||||||||||||||
| 21. OTHER (ATTACH LIST) | ||||||||||||||||
| 22. NET OTHER INCOME & EXPENSES | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||
| REORGANIZATION EXPENSES | ||||||||||||||||
| 23. PROFESSIONAL FEES | $ | 194,009 | $ | 98,376 | ||||||||||||
| 24. U.S. TRUSTEE FEES | $ | 4,875 | $ | (3,900 | ) | $ | 0 | |||||||||
| 25. OTHER (ATTACH LIST) | $ | 0 | ||||||||||||||
| 26. TOTAL REORGANIZATION EXPENSES | $ | 4,875 | $ | (3,900 | ) | $ | 194,009 | $ | 98,376 | |||||||
| 27. INCOME TAX | ||||||||||||||||
| 28. NET PROFIT (LOSS) | $ | 624,378 | $ | 44,453 | $ | (165,616 | ) | $ | 933,258 | |||||||
Monthly Operating Report
ACCRUAL BASIS-3
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH | MONTH | MONTH | ||||||||||||||
| CASH RECEIPTS AND DISBURSEMENTS | July 31, 2015 | August 31, 2015 | September 30, 2015 | QUARTER | ||||||||||||
| 1. CASH - BEGINNING OF MONTH | $ | 2,122,124 | $ | 1,363,573 | $ | 694,146 | ||||||||||
| RECEIPTS FROM OPERATIONS | ||||||||||||||||
| 2. CASH SALES | $ | 43,875 | $ | 52,937 | $ | 1,032,009 | $ | 1,128,821 | ||||||||
| COLLECTION OF ACCOUNTS RECEIVABLE | ||||||||||||||||
| 3. PREPETITION | $ | 0 | ||||||||||||||
| 4. POSTPETITION | $ | 0 | ||||||||||||||
| 5. TOTAL OPERATING RECEIPTS | $ | 43,875 | $ | 52,937 | $ | 1,032,009 | $ | 1,128,821 | ||||||||
| NON-OPERATING RECEIPTS | ||||||||||||||||
| 6. LOANS & ADVANCES (ATTACH LIST) | $ | 0 | ||||||||||||||
| 7. SALE OF ASSETS | $ | 0 | ||||||||||||||
| 8. OTHER (ATTACH LIST) | $ | 55,451 | $ | 55,451 | ||||||||||||
| 9. TOTAL NON-OPERATING RECEIPTS | $ | 0 | $ | 0 | $ | 55,451 | $ | 55,451 | ||||||||
| 10. TOTAL RECEIPTS | $ | 43,875 | $ | 52,937 | $ | 1,087,460 | $ | 1,184,272 | ||||||||
| 11. TOTAL CASH AVAILABLE | $ | 2,166,000 | $ | 1,416,510 | $ | 1,781,605 | ||||||||||
| OPERATING DISBURSEMENTS | ||||||||||||||||
| 12. NET PAYROLL | $ | 0 | ||||||||||||||
| 13. PAYROLL TAXES PAID | $ | 0 | ||||||||||||||
| 14. SALES, USE & OTHER TAXES PAID | $ | 0 | ||||||||||||||
| 15. SECURED / RENTAL / LEASES | $ | 0 | ||||||||||||||
| 16. UTILITIES | $ | 0 | ||||||||||||||
| 17. INSURANCE | $ | 95,216 | $ | 95,216 | ||||||||||||
| 18. INVENTORY PURCHASES | $ | 0 | ||||||||||||||
| 19. VEHICLE EXPENSES | $ | 0 | ||||||||||||||
| 20. TRAVEL | $ | 0 | ||||||||||||||
| 21. ENTERTAINMENT | $ | 0 | ||||||||||||||
| 22. REPAIRS & MAINTENANCE | $ | 0 | ||||||||||||||
| 23. SUPPLIES | $ | 22,186 | $ | 4,786 | $ | 26,972 | ||||||||||
| 24. ADVERTISING | $ | 0 | ||||||||||||||
| 25. OTHER (ATTACH LIST) | $ | 802,101 | $ | 700,178 | $ | 405,879 | $ | 1,908,159 | ||||||||
| 26. TOTAL OPERATING DISBURSEMENTS | $ | 802,101 | $ | 722,364 | $ | 505,881 | $ | 2,030,347 | ||||||||
| REORGANIZATION EXPENSES | ||||||||||||||||
| 27. PROFESSIONAL FEES | $ | 184,781 | $ | 184,781 | ||||||||||||
| 28. U.S. TRUSTEE FEES | $ | 325 | $ | 325 | ||||||||||||
| 29. OTHER (ATTACH LIST) | $ | 0 | ||||||||||||||
| 30. TOTAL REORGANIZATION EXPENSES | $ | 325 | $ | 0 | $ | 184,781 | $ | 185,106 | ||||||||
| 31. TOTAL DISBURSEMENTS | $ | 802,426 | $ | 722,364 | $ | 690,662 | $ | 2,215,452 | 4 | |||||||
| 32. NET CASH FLOW | $ | (758,551 | ) | $ | (669,428 | ) | $ | (396,798 | $ | (1,031,181 | ) | |||||
| 33. CASH - END OF MONTH | $ | 1,363,573 | $ | 694,146 | $ | 1,090,944 | ||||||||||
| 4 | Total Disbursements includes the following amounts that are NOT disbursements, but are transfers of funds between bank accounts (from LPI Financial Services account to Life Partners, Inc. account) for the periods shown below. |
| July 31, 2015 | $ | 800,000.00 | ||
| August 31, 2015 | $ | 700,000.00 | ||
| September 30,2015 | $ | 350,000.00 |
Monthly Operating Report
SUPPLEMENT TO
ACCRUAL BASIS-3
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH | MONTH | MONTH | QUARTER | |||||||||||||
| CASH RECEIPTS AND DISBURSEMENTS | July 31, 2015 | August 31, 2015 | September 30, 2015 | |||||||||||||
| NON-OPERATING RECEIPTS (OTHER) | ||||||||||||||||
| 8. DIVIDENDS FORWARD TO LPI | $ | 0 | ||||||||||||||
| 8. FLOW THRU PREMIUMS | $ | 55,451 | $ | 55,451 | ||||||||||||
| 8. PREMIUMS RETURNED | $ | 0 | ||||||||||||||
| 8. SPOILED POSTAGE REFUND | $ | 0 | ||||||||||||||
| 9. TOTAL NON-OPERATING RECEIPTS | $ | 0 | $ | 0 | $ | 55,451 | $ | 55,451 | ||||||||
| OPERATING DISBURSEMENTS | ||||||||||||||||
| 25. BANK FEES | $ | 652 | $ | 114 | $ | 365 | $ | 1,131 | ||||||||
| 25. CREDIT CARD PROCESSING FEES | $ | 10 | $ | 10 | $ | 10 | $ | 30 | ||||||||
| 25. DIVIDENDS FORWARD TO LPI | $ | 0 | ||||||||||||||
| 25. FLOW THRU PREMIUMS | $ | 1,439 | $ | 55,451 | $ | 56,890 | ||||||||||
| 25. PREMIUMS RETURNED | $ | 0 | ||||||||||||||
| 25. TRANSFER TO LPI | $ | 800,000 | $ | 700,000 | $ | 350,000 | $ | 1,850,000 | ||||||||
| 25. TRANSFER TO LPI BANK ACCOUNT | $ | 0 | ||||||||||||||
| 25. LICENSES & FEES | $ | 54 | $ | 54 | $ | 108 | ||||||||||
| 26. TOTAL OPERATING DISBURSEMENTS (OTHER) | $ | 802,101 | $ | 700,178 | $ | 405,879 | $ | 1,908,159 | ||||||||
Monthly Operating Report
ACCRUAL BASIS-4
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| ACCOUNTS RECEIVABLE AGING | SCHEDULE AMOUNT | MONTH July 31, 2015 | MONTH August 31, 2015 | MONTH September 30, 2015 | ||||||||||||
| 1. 0-30 | ||||||||||||||||
| 2. 31-60 | $ | 803,662 | ||||||||||||||
| 3. 61-90 | ||||||||||||||||
| 4. 91+ | $ | 1,937,445 | ||||||||||||||
| 5. TOTAL ACCOUNTS RECEIVABLE | $ | 2,741,107 | $ | 0 | $ | 0 | $ | 0 | ||||||||
| 6. AMOUNT CONSIDERED UNCOLLECTIBLE | ||||||||||||||||
| 7. ACCOUNTS RECEIVABLE (NET) | $ | 2,741,107 | $ | 0 | $ | 0 | $ | 0 | ||||||||
| AGING OF POSTPETITION TAXES AND PAYABLES | MONTH: | September 2015 |
| 0-30 | 31-60 | 61-90 | 91+ | |||||||||||||||||
| TAXES PAYABLE | DAYS | DAYS | DAYS | DAYS | TOTAL | |||||||||||||||
| 1. FEDERAL | $ | 0 | ||||||||||||||||||
| 2. STATE | $ | 0 | ||||||||||||||||||
| 3. LOCAL | $ | 0 | ||||||||||||||||||
| 4. OTHER (ATTACH LIST) | $ | 0 | ||||||||||||||||||
| 5. TOTAL TAXES PAYABLE | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||
| 6. ACCOUNTS PAYABLE | $ | 1,906 | $1,906 | 1 | ||||||||||||||||
| STATUS OF POSTPETITION TAXES | MONTH: | September 2015 |
| BEGINNING | AMOUNT | ENDING | ||||||||||||||
| TAX | WITHHELD AND/ | AMOUNT | TAX | |||||||||||||
| FEDERAL | LIABILITY | 0R ACCRUED | PAID | LIABILITY | ||||||||||||
| 1. WITHHOLDING | $ | 0 | ||||||||||||||
| 2. FICA-EMPLOYEE | $ | 0 | ||||||||||||||
| 3. FICA-EMPLOYER | $ | 0 | ||||||||||||||
| 4. UNEMPLOYMENT | $ | 0 | ||||||||||||||
| 5. INCOME | $ | 0 | ||||||||||||||
| 6. OTHER (ATTACH LIST) | $ | 0 | ||||||||||||||
| 7. TOTAL FEDERAL TAXES | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||
| STATE AND LOCAL | ||||||||||||||||
| 8. WITHHOLDING | $ | 0 | ||||||||||||||
| 9. SALES | $ | 0 | ||||||||||||||
| 10. EXCISE | $ | 0 | ||||||||||||||
| 11. UNEMPLOYMENT | $ | 0 | ||||||||||||||
| 12. REAL PROPERTY | $ | 0 | ||||||||||||||
| 13. PERSONAL PROPERTY | $ | 0 | ||||||||||||||
| 14. OTHER (ATTACH LIST) | $ | 0 | ||||||||||||||
| 15. TOTAL STATE & LOCAL | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||
| 16. TOTAL TAXES | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||
| 1 | This is a payable for premium payments received that are being forwarded to Advance Trust & Life Escrow Services, LTA. |
Monthly Operating Report
ACCRUAL BASIS-5
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH: | September 2015 |
BANK RECONCILIATIONS
| Account #1 | Account #2 | Account #3 | ||||||||||||||
| A. BANK: | ||||||||||||||||
| B. ACCOUNT NUMBER: | 4069 | |||||||||||||||
| C. PURPOSE (TYPE): | TOTAL | |||||||||||||||
| 1. BALANCE PER BANK STATEMENT | $ | 1,090,579 | $ | 1,090,579 | ||||||||||||
| 2. ADD: TOTAL DEPOSITS NOT CREDITED | $ | 0 | ||||||||||||||
| 3. SUBTRACT: OUTSTANDING CHECKS | $ | 0 | ||||||||||||||
| 4. OTHER RECONCILING ITEMS | $ | 365 | $ | 365 | ||||||||||||
| 5. MONTH END BALANCE PER BOOKS | $ | 1,090,944 | $ | 0 | $ | 0 | $ | 1,090,944 | ||||||||
| 6. NUMBER OF LAST CHECK WRITTEN | 1013 | |||||||||||||||
INVESTMENT ACCOUNTS
| DATE OF | TYPE OF | PURCHASE | CURRENT | |||||||||||||
| BANK, ACCOUNT NAME & NUMBER | PURCHASE | INSTRUMENT | PRICE | VALUE | ||||||||||||
| 7. | ||||||||||||||||
| 8. | ||||||||||||||||
| 9. | ||||||||||||||||
| 10. | ||||||||||||||||
| 11. TOTAL INVESTMENTS | $ | 0 | $ | 0 | ||||||||||||
| CASH | ||||||||||||||||
| 12. CURRENCY ON HAND | $ | 0 | ||||||||||||||
| 13. TOTAL CASH - END OF MONTH | $ | 1,090,944 | ||||||||||||||
Monthly Operating Report
ACCRUAL BASIS-6
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH: | September 2015 |
| PAYMENTS TO INSIDERS AND PROFESSIONALS | ||||||||||
| INSIDERS | ||||||||||
| TYPE OF | AMOUNT | TOTAL PAID | ||||||||
| NAME | PAYMENT | PAID | TO DATE | |||||||
| 1. Advance Trust & Life Escrow Services | Premium Remittance | $ | 55,451 | $ | 83,042 | |||||
| 2. Purchase Escrow Services, LLC | Premium Remittance | $ | 3,417 | |||||||
| 3. | ||||||||||
| 4. | ||||||||||
| 5. | ||||||||||
| 6. TOTAL PAYMENTS TO INSIDERS | $ | 55,451 | $ | 86,459 | ||||||
| PROFESSIONALS | ||||||||||||||||||
| DATE OF COURT | TOTAL | |||||||||||||||||
| ORDER AUTHORIZING | AMOUNT | AMOUNT | TOTAL PAID | INCURRED | ||||||||||||||
| NAME | PAYMENT | APPROVED | PAID | TO DATE | & UNPAID | |||||||||||||
| 1. Asset Servicing Group | $ | 466,656 | ||||||||||||||||
| 2. Bridgepoint Consulting | $ | 417,920 | ||||||||||||||||
| 3. Epiq Bankruptcy Solutions | 05/22/15 | $ | 2,103,953 | $ | 184,781 | $ | 533,773 | $ | 1,570,180 | |||||||||
| 4. Kim Hinkle, Attorney at Law | $ | 118,726 | ||||||||||||||||
| 5. MMS Advisors | $ | 217,600 | 5 | |||||||||||||||
| 6. Munsch, Hardt, Kopf & Harr,P.C. | $ | 753,000 | ||||||||||||||||
| 7. Thompson & Knight LLP | $ | 3,967,500 | ||||||||||||||||
| 8. Tom Moran, US Trustee | $ | 288,900 | ||||||||||||||||
| 9. Phillips Murrah | $ | 156,334 | ||||||||||||||||
| 10. Smith, Jackson, Boyer, & Bobard, PLLC | $ | 35,866 | ||||||||||||||||
| 11. Inventus | $ | 25,000 | $ | 25,000 | ||||||||||||||
| 12. First Advantage Litigation | $ | 6,000 | $ | 6,000 | $ | 6,000 | ||||||||||||
| 13. Predictive Resources | $ | 22,500 | ||||||||||||||||
| 14. TOTAL PAYMENTS TO PROFESSIONALS | $ | 190,781 | $ | 564,773 | $ | 8,046,183 | 3 | |||||||||||
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
| SCHEDULED | AMOUNTS | |||||||||||
| MONTHLY | PAID | TOTAL | ||||||||||
| PAYMENTS | DURING | UNPAID | ||||||||||
| NAME OF CREDITOR | DUE | MONTH | POSTPETITION | |||||||||
| 1. | ||||||||||||
| 2. | ||||||||||||
| 3. | ||||||||||||
| 4. | ||||||||||||
| 5. | ||||||||||||
| 6. TOTAL | $ | 0 | $ | 0 | $ | 0 | ||||||
| 3 | Professional fees and expenses estimated and accrued prior to May 19th are reflected only on the books of Life Partners Holdings, Inc. Thereafter, professional fees and expenses reflect the estimated aggregate, unallocated fees and expenses for all of the Debtors, and are noted on each of the Debtors MORs. |
| 5 | MMS Advisors incurred fees and expenses March 13th - May 18th in the estimated amount of $230,000.00 that are not included here since their retention has not been approved for this period of time. |
Monthly Operating Report
ACCRUAL BASIS-7
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH: | September 2015 |
QUESTIONNAIRE
| YES | NO | |||||
| 1. | HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? | X | ||||
| 2. | HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? | X | ||||
| 3. | ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? | X | ||||
| 4. | HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? | X | ||||
| 5. | HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? | X | ||||
| 6. | ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? | X | ||||
| 7. | ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? | X | ||||
| 8. | ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? | X | ||||
| 9. | ARE ANY OTHER POSTPETITION TAXES PAST DUE? | X | ||||
| 10. | ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? | X | ||||
| 11. | HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? | X | ||||
| 12. | ARE ANY WAGE PAYMENTS PAST DUE? | X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES," PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSURANCE
| YES | NO | |||||
| 1. | ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? | X | ||||
| 2. | ARE ALL PREMIUM PAYMENTS PAID CURRENT? | X | ||||
| 3. | PLEASE ITEMIZE POLICIES BELOW. |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO," OR IF ANY POLICIES HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSTALLMENT PAYMENTS
| TYPE OF | PAYMENT AMOUNT | |||||||
| POLICY | CARRIER | PERIOD COVERED | & FREQUENCY | |||||
Exhibit 99.7
| Monthly Operating Report | |
| ACCRUAL BASIS |
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| JUDGE: | Russell Nelms |
UNITED STATES BANKRUPTCY COURT
NORTHERN & EASTERN DISTRICTS OF TEXAS
REGION 6
MONTHLY OPERATING REPORT
| MONTH ENDING: | August | 2015 | ||||
| MONTH | YEAR |
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT, AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
RESPONSIBLE PARTY:
| /s/ H. Thomas Moran II | Trustee | |
| ORIGINAL SIGNATURE OF RESPONSIBLE PARTY | TITLE | |
| H. Thomas Moran II | 9/21/2015 | |
| PRINTED NAME OF RESPONSIBLE PARTY | DATE | |
| PREPARER: | ||
| /s/ Colette Pieper | CEO | |
| ORIGINAL SIGNATURE OF PREPARER | TITLE | |
| Colette Pieper | 9/21/2015 | |
| PRINTED NAME OF PREPARER | DATE |
Monthly Operating Report
ACCRUAL BASIS-1
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
COMPARATIVE BALANCE SHEET
| SCHEDULE AMOUNT | JUNE | JULY | AUGUST | |||||||||||||
| ASSETS | ||||||||||||||||
| 1. UNRESTRICTED CASH | $ | 51,248 | $ | 34,682 | $ | 33,749 | $ | 35,458 | ||||||||
| 2. RESTRICTED CASH | ||||||||||||||||
| 3. TOTAL CASH | $ | 51,248 | $ | 34,682 | $ | 33,749 | $ | 35,458 | ||||||||
| 4. ACCOUNTS RECEIVABLE (NET) | ||||||||||||||||
| 5. INVENTORY | ||||||||||||||||
| 6. NOTES RECEIVABLE | ||||||||||||||||
| 7. PREPAID EXPENSES | $ | 214,521 | $ | 175,002 | $ | 168,482 | ||||||||||
| 8. OTHER (ATTACH LIST) | $ | 76,415 | $ | 84,665 | $ | 84,665 | $ | 95,165 | ||||||||
| 9. TOTAL CURRENT ASSETS | $ | 127,664 | $ | 333,868 | $ | 293,416 | $ | 299,105 | ||||||||
| 10. PROPERTY, PLANT & EQUIPMENT | $ | 2,188,639 | $ | 2,188,639 | $ | 2,188,639 | $ | 2,188,639 | ||||||||
| 11. LESS: ACCUMULATED DEPRECIATION/DEPLETION | $ | (813,966 | ) | $ | (819,684 | ) | $ | (825,402 | ) | |||||||
| 12. NET PROPERTY, PLANT & EQUIPMENT | $ | 2,188,639 | $ | 1,374,672 | $ | 1,368,954 | $ | 1,363,237 | ||||||||
| 13. DUE FROM INSIDERS | ||||||||||||||||
| 14. OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) | $ | 166,250 | $ | 166,250 | $ | 166,250 | $ | 166,250 | ||||||||
| 15. OTHER (ATTACH LIST) | ||||||||||||||||
| 16. TOTAL ASSETS | $ | 2,482,552 | $ | 1,874,791 | $ | 1,828,620 | $ | 1,828,592 | ||||||||
| POSTPETITION LIABILITIES | ||||||||||||||||
| 17. ACCOUNTS PAYABLE | $ | 483,200 | $ | 490,264 | $ | 513,595 | ||||||||||
| 18. TAXES PAYABLE | $ | 27,627 | $ | 32,775 | $ | 37,923 | ||||||||||
| 19. NOTES PAYABLE | ||||||||||||||||
| 20. PROFESSIONAL FEES | $ | 4,418,061 | $ | 5,731,430 | $ | 6,536,268 | ||||||||||
| 21. SECURED DEBT | $ | 8,654 | $ | 7,590 | $ | 6,521 | ||||||||||
| 22. OTHER (ATTACH LIST) | ||||||||||||||||
| 23. TOTAL POSTPETITION LIABILITIES | $ | 4,937,542 | $ | 6,262,059 | $ | 7,094,306 | ||||||||||
| PREPETITION LIABILITIES | ||||||||||||||||
| 24. SECURED DEBT | $ | 267,505 | $ | 99,234 | $ | 65,035 | $ | 65,035 | 1 | |||||||
| 25. PRIORITY DEBT | $ | 3,991,351 | ||||||||||||||
| 26. UNSECURED DEBT | $ | 114,283,485 | $ | 1,588,832 | $ | 1,588,832 | $ | 1,588,832 | 2 | |||||||
| 27. OTHER (ATTACH LIST) | ||||||||||||||||
| 28. TOTAL PREPETITION LIABILITIES | $ | 118,542,341 | $ | 1,688,066 | $ | 1,653,867 | $ | 1,653,867 | ||||||||
| 29. TOTAL LIABILITIES | $ | 118,542,341 | $ | 6,625,608 | $ | 7,915,926 | $ | 8,748,174 | ||||||||
| EQUITY | ||||||||||||||||
| 30. PREPETITION OWNERS' EQUITY | $ | (73,722,301 | ) | $ | (73,722,301 | ) | $ | (73,722,301 | ) | |||||||
| 31. POSTPETITION CUMULATIVE PROFIT OR (LOSS) | $ | (5,320,933 | ) | $ | (6,691,710 | ) | $ | (7,556,986 | ) | |||||||
| 32. DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) | $ | 74,292,417 | $ | 74,326,705 | $ | 74,359,705 | 3 | |||||||||
| 33. TOTAL EQUITY | $ | (4,750,818 | ) | $ | (6,087,306 | ) | $ | (6,919,582 | ) | |||||||
| 34. TOTAL LIABILITIES & OWNERS' EQUITY | $ | 1,874,791 | $ | 1,828,620 | $ | 1,828,592 | ||||||||||
| 1 | Item 24. Secured Debt includes $3,260.33 accrued property tax for the prepetition period, due post petition. |
| 2 | The Schedule Amount for Item 26. Unsecured Debt includes Intercompany Due To/From LPI shown below in Item 32. |
| 3 | Intercompany Due To/From Life Partners, Inc. |
Monthly Operating Report
SUPPLEMENT TO
ACCRUAL BASIS-1
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| COMPARATIVE BALANCE SHEET | ||||||||||||||||
| SCHEDULE AMOUNT | JUNE | JULY | AUGUST | |||||||||||||
| 8. OTHER CURRENT ASSETS | ||||||||||||||||
| 8. Pardo Family Holdings Trust (Advance to Price L. Johnson, PC) | $ | 24,441 | $ | 31,323 | $ | 31,323 | $ | 31,323 | ||||||||
| 8. Pardo Family Holdings Trust (Advance to Kyle, Mathis & Lucas, LLP) | $ | 51,975 | $ | 53,343 | $ | 53,343 | $ | 53,343 | ||||||||
| 8. Rent due from Life Partners, Inc. | $ | 10,500 | ||||||||||||||
| 8. | ||||||||||||||||
| 8. | ||||||||||||||||
| 8. | ||||||||||||||||
| 8. | ||||||||||||||||
| 8 | ||||||||||||||||
| 8. TOTAL - OTHER CURRENT ASSETS | $ | 76,415 | $ | 84,665 | $ | 84,665 | $ | 95,165 | ||||||||
| 14. OTHER ASSETS - NET OF AMORTIZATION | ||||||||||||||||
| 14. Woolly Mammoth & Other Prehistoric Artifacts | $ | 166,250 | $ | 166,250 | $ | 166,250 | $ | 166,250 | ||||||||
| 14. | ||||||||||||||||
| 14. | ||||||||||||||||
| 14. | ||||||||||||||||
| 14. | ||||||||||||||||
| 14. TOTAL - OTHER ASSETS (Net of Amort.) | $ | 166,250 | $ | 166,250 | $ | 166,250 | $ | 166,250 | ||||||||
| 15. OTHER ASSETS | ||||||||||||||||
| 15. | ||||||||||||||||
| 15. | ||||||||||||||||
| 15. | ||||||||||||||||
| 15. | ||||||||||||||||
| 15. | ||||||||||||||||
| 15. | ||||||||||||||||
| 15. | ||||||||||||||||
| 15. | ||||||||||||||||
| 15. | ||||||||||||||||
| 15. TOTAL - OTHER ASSETS | $ | - | $ | - | $ | - | $ | - | ||||||||
| POSTPETITION LIABILITIES | ||||||||||||||||
| 22. | ||||||||||||||||
| 22. | ||||||||||||||||
| 22. | ||||||||||||||||
| 22. | ||||||||||||||||
| 22. | ||||||||||||||||
| 22. | ||||||||||||||||
| 22 TOTAL - OTHER POSTPETITION LIABILITIES | $ | - | $ | - | $ | - | ||||||||||
Monthly Operating Report
ACCRUAL BASIS-2
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| INCOME STATEMENT | MAY | JUNE | JULY | AUGUST | ||||||||||||
| REVENUES | ||||||||||||||||
| 1. GROSS REVENUES | ||||||||||||||||
| 2. LESS: RETURNS & DISCOUNTS | ||||||||||||||||
| 3. NET REVENUE | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||
| COST OF GOODS SOLD | ||||||||||||||||
| 4. MATERIAL | ||||||||||||||||
| 5. DIRECT LABOR | ||||||||||||||||
| 6. DIRECT OVERHEAD | ||||||||||||||||
| 7. TOTAL COST OF GOODS SOLD | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||
| 8. GROSS PROFIT | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||
| OPERATING EXPENSES | ||||||||||||||||
| 9. OFFICER / INSIDER COMPENSATION | ||||||||||||||||
| 10. SELLING & MARKETING | ||||||||||||||||
| 11. GENERAL & ADMINISTRATIVE | $ | 57,569 | $ | 48,295 | $ | 47,520 | $ | 38,918 | ||||||||
| 12. RENT & LEASE | ||||||||||||||||
| 13. OTHER (ATTACH LIST) | $ | 5,358 | $ | 11,060 | $ | 10,320 | $ | 25,685 | 1 | |||||||
| 14. TOTAL OPERATING EXPENSES | $ | 62,927 | $ | 59,355 | $ | 57,840 | $ | 64,603 | ||||||||
| 15. INCOME BEFORE NON-OPERATING INCOME & EXPENSE | $ | (62,927 | ) | $ | (59,355 | ) | $ | (57,840 | ) | $ | (64,603 | ) | ||||
| OTHER INCOME & EXPENSES | ||||||||||||||||
| 16. NON-OPERATING INCOME (ATTACH LIST) | $ | (22,000 | ) | $ | (10,000 | ) | $ | (10,000 | ) | $ | (10,500) | 2 | ||||
| 17. NON-OPERATING EXPENSE (ATTACH LIST) | ||||||||||||||||
| 18. INTEREST EXPENSE | $ | 179 | $ | 46 | $ | 131 | $ | 36 | ||||||||
| 19. DEPRECIATION / DEPLETION | $ | 5,718 | $ | 5,718 | $ | 5,718 | $ | 5,718 | ||||||||
| 20. AMORTIZATION | ||||||||||||||||
| 21. OTHER (ATTACH LIST) | $ | 0 | $ | 0 | $ | 0 | ||||||||||
| 22. NET OTHER INCOME & EXPENSES | $ | (16,103 | ) | $ | (4,236 | ) | $ | (4,152 | ) | $ | (4,746 | ) | ||||
| REORGANIZATION EXPENSES | ||||||||||||||||
| 23. PROFESSIONAL FEES | $ | 3,305,203 | $ | 1,111,933 | $ | 1,314,994 | $ | 804,838 | ||||||||
| 24. U.S. TRUSTEE FEES | $ | 925 | $ | 325 | ||||||||||||
| 25. OTHER (ATTACH LIST) | $ | 1,770 | $ | 582 | 3 | |||||||||||
| 26. TOTAL REORGANIZATION EXPENSES | $ | 3,305,203 | $ | 1,112,858 | $ | 1,317,088 | $ | 805,420 | ||||||||
| 27. INCOME TAX | $ | 150 | ||||||||||||||
| 28. NET PROFIT (LOSS) | $ | (3,352,027 | ) | $ | (1,168,126 | ) | $ | (1,370,776 | ) | $ | (865,276 | ) | ||||
| 1 | Operating Expenses Item 13. Other is Legal & Professional Fees not related to the reorganization. |
| 2 | Other Income & Expense Item 16. Non-Operating Income includes Rental Income of $10,000 & a $500 late fee. |
| 3 | Item 25. Other Reorganization Expenses includes fees for transcription services. |
Monthly Operating Report
ACCRUAL BASIS-3
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| CASH RECEIPTS AND DISBURSEMENTS | JULY | AUGUST | QUARTER | |||||||||
| 1. CASH - BEGINNING OF MONTH | $ | 34,682 | $ | 33,749 | ||||||||
| RECEIPTS FROM OPERATIONS | ||||||||||||
| 2. CASH SALES | $ | 0 | ||||||||||
| COLLECTION OF ACCOUNTS RECEIVABLE | ||||||||||||
| 3. PREPETITION | $ | 0 | ||||||||||
| 4. POSTPETITION | $ | 0 | ||||||||||
| 5. TOTAL OPERATING RECEIPTS | $ | 0 | $ | 0 | $ | 0 | ||||||
| NON-OPERATING RECEIPTS | ||||||||||||
| 6. LOANS & ADVANCES (ATTACH LIST) | $ | 0 | ||||||||||
| 7. SALE OF ASSETS | $ | 0 | ||||||||||
| 8. OTHER (ATTACH LIST) | $ | 10,000 | $ | 5,168 | $ | 15,168 | ||||||
| 9. TOTAL NON-OPERATING RECEIPTS | $ | 10,000 | $ | 5,168 | $ | 15,168 | ||||||
| 10. TOTAL RECEIPTS | $ | 10,000 | $ | 5,168 | $ | 15,168 | ||||||
| 11. TOTAL CASH AVAILABLE | $ | 44,682 | $ | 38,917 | $ | 15,168 | ||||||
| OPERATING DISBURSEMENTS | ||||||||||||
| 12. NET PAYROLL | $ | 0 | ||||||||||
| 13. PAYROLL TAXES PAID | $ | 0 | ||||||||||
| 14. SALES, USE & OTHER TAXES PAID | $ | 0 | ||||||||||
| 15. SECURED / RENTAL / LEASES | $ | 0 | ||||||||||
| 16. UTILITIES | $ | 0 | ||||||||||
| 17. INSURANCE | $ | 2,476 | $ | 2,456 | $ | 4,932 | ||||||
| 18. INVENTORY PURCHASES | $ | 0 | ||||||||||
| 19. VEHICLE EXPENSES | $ | 0 | ||||||||||
| 20. TRAVEL | $ | 0 | ||||||||||
| 21. ENTERTAINMENT | $ | 0 | ||||||||||
| 22. REPAIRS & MAINTENANCE | $ | 0 | ||||||||||
| 23. SUPPLIES | $ | 0 | ||||||||||
| 24. ADVERTISING | $ | 0 | ||||||||||
| 25. OTHER (ATTACH LIST) | $ | 5,018 | $ | 212 | $ | 5,230 | ||||||
| 26. TOTAL OPERATING DISBURSEMENTS | $ | 7,494 | $ | 2,668 | $ | 10,162 | ||||||
| REORGANIZATION EXPENSES | ||||||||||||
| 27. PROFESSIONAL FEES | $ | 0 | ||||||||||
| 28. U.S. TRUSTEE FEES | $ | 1,950 | $ | 1,950 | ||||||||
| 29. OTHER (ATTACH LIST) | $ | 1,488 | $ | 791 | $ | 2,279 | ||||||
| 30. TOTAL REORGANIZATION EXPENSES | $ | 3,438 | $ | 791 | $ | 4,229 | ||||||
| 31. TOTAL DISBURSEMENTS | $ | 10,933 | $ | 3,459 | $ | 14,391 | ||||||
| 32. NET CASH FLOW | $ | (933 | ) | $ | 1,709 | $ | 777 | |||||
| 33. CASH - END OF MONTH | $ | 33,749 | $ | 35,458 | ||||||||
See Exhibit 1 for disbursements made by Life Partners, Inc. on behalf of Life Partners Holdings, Inc.
Monthly Operating Report
SUPPLEMENT TO
ACCRUAL BASIS-3
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| CASH RECEIPTS AND DISBURSEMENTS | MONTH END 07/31/15 | MONTH END 08/31/15 | MONTH | |||||||||
| OTHER NON-OPERATING RECEIPTS | ||||||||||||
| 8. Lease & Rental Income | $ | 10,000 | ||||||||||
| 8. Worker's Compensation Dividend | $ | 5,168 | ||||||||||
| 8. Total - Non-Operating Receipts | $ | 10,000 | $ | 5,168 | $ | - | ||||||
| OTHER OPERATING DISBURSEMENTS | ||||||||||||
| 25. Registrar & Transfer Fees | $ | 1,050 | ||||||||||
| 25. Filing Fees | $ | 212 | ||||||||||
| 25. Web Page Hosting | $ | 3,750 | ||||||||||
| 25. Bank Acct Analysis Fee | $ | 219 | ||||||||||
| 25. Total - Other Operating Disbursements | $ | 5,018 | $ | 212 | $ | - | ||||||
| OTHER REORGANIZATION EXPENSES | ||||||||||||
| 29. Transcription Services | $ | 1,488 | $ | 791 | ||||||||
| 29. | ||||||||||||
| 29. Total - Other Reorganization Expenses | $ | 1,488 | $ | 791 | $ | - | ||||||
Monthly Operating Report
ACCRUAL BASIS-4
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| ACCOUNTS RECEIVABLE AGING | SCHEDULE AMOUNT | JUNE | JULY | AUGUST | ||||||||||||
| 1. 0-30 | ||||||||||||||||
| 2. 31-60 | ||||||||||||||||
| 3. 61-90 | ||||||||||||||||
| 4. 91+ | ||||||||||||||||
| 5. TOTAL ACCOUNTS RECEIVABLE | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||
| 6. AMOUNT CONSIDERED UNCOLLECTIBLE | ||||||||||||||||
| 7. ACCOUNTS RECEIVABLE (NET) | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||
| AGING OF POSTPETITION TAXES AND PAYABLES | MONTH: | August 2015 |
| 0-30 | 31-60 | 61-90 | 91+ | |||||||||||||||||
| TAXES PAYABLE | DAYS | DAYS | DAYS | DAYS | TOTAL | |||||||||||||||
| 1. FEDERAL | $ | 0 | ||||||||||||||||||
| 2. STATE | $ | 0 | ||||||||||||||||||
| 3. LOCAL | $ | 37,923 | $ | 37,923 | ||||||||||||||||
| 4. OTHER (ATTACH LIST) | $ | 0 | ||||||||||||||||||
| 5. TOTAL TAXES PAYABLE | $ | 37,923 | $ | 0 | $ | 0 | $ | 0 | $ | 37,923 | ||||||||||
| 6. ACCOUNTS PAYABLE | $ | 9,253 | $ | 24,892 | $ | 32,972 | $ | 446,479 | $ | 513,595 | ||||||||||
| STATUS OF POSTPETITION TAXES | MONTH: | August 2015 | ||||||||||||||
| BEGINNING | AMOUNT | ENDING | ||||||||||||||
| TAX | WITHHELD AND/ | AMOUNT | TAX | |||||||||||||
| FEDERAL | LIABILITY | 0R ACCRUED | PAID | LIABILITY | ||||||||||||
| 1. WITHHOLDING | $ | 0 | ||||||||||||||
| 2. FICA-EMPLOYEE | $ | 0 | ||||||||||||||
| 3. FICA-EMPLOYER | $ | 0 | ||||||||||||||
| 4. UNEMPLOYMENT | $ | 0 | ||||||||||||||
| 5. INCOME | $ | 0 | ||||||||||||||
| 6. OTHER (ATTACH LIST) | $ | 0 | ||||||||||||||
| 7. TOTAL FEDERAL TAXES | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||
| STATE AND LOCAL | ||||||||||||||||
| 8. WITHHOLDING | $ | 0 | ||||||||||||||
| 9. SALES | $ | 0 | ||||||||||||||
| 10. EXCISE | $ | 0 | ||||||||||||||
| 11. UNEMPLOYMENT | $ | 0 | ||||||||||||||
| 12. REAL PROPERTY | $ | 32,775 | $ | 5,148 | $ | 37,923 | 1 | |||||||||
| 13. PERSONAL PROPERTY | $ | 0 | ||||||||||||||
| 14. OTHER (ATTACH LIST) | $ | 0 | ||||||||||||||
| 15. TOTAL STATE & LOCAL | $ | 32,775 | $ | 5,148 | $ | 0 | $ | 37,923 | ||||||||
| 16. TOTAL TAXES | $ | 32,775 | $ | 5,148 | $ | 0 | $ | 37,923 | ||||||||
| 1 | The figures shown here do not include $3,260.33 accrued for the prepetition period of Jan. 1, 2015 thru Jan. 19, 2015. |
Monthly Operating Report
ACCRUAL BASIS-5
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | August 2015 | |||||||||||||||
| BANK RECONCILIATIONS | ||||||||||||||||
| Account #1 | Account #2 | Account #3 | ||||||||||||||
| A. BANK: | Bank of America | Alliance Bank | Bank of Texas | |||||||||||||
| B. ACCOUNT NUMBER: | 3363 | 613 | 3772 | |||||||||||||
| C. PURPOSE (TYPE): | DIP Account | MoneyMarket | Checking | TOTAL | ||||||||||||
| 1. BALANCE PER BANK STATEMENT | $ | 35,458 | $ | 35,458 | ||||||||||||
| 2. ADD: TOTAL DEPOSITS NOT CREDITED | $ | 0 | ||||||||||||||
| 3. SUBTRACT: OUTSTANDING CHECKS | $ | 0 | ||||||||||||||
| 4. OTHER RECONCILING ITEMS | $ | 0 | ||||||||||||||
| 5. MONTH END BALANCE PER BOOKS | $ | 0 | $ | 0 | $ | 35,458 | $ | 35,458 | ||||||||
| 6. NUMBER OF LAST CHECK WRITTEN | 1013 | 1012 | ||||||||||||||
| INVESTMENT ACCOUNTS | ||||||||||||||||
| DATE OF | TYPE OF | PURCHASE | CURRENT | |||||||||||||
| BANK, ACCOUNT NAME & NUMBER | PURCHASE | INSTRUMENT | PRICE | VALUE | ||||||||||||
| 7. | ||||||||||||||||
| 8. | ||||||||||||||||
| 9. | ||||||||||||||||
| 10. | ||||||||||||||||
| 11. TOTAL INVESTMENTS | $ | 0 | $ | 0 | ||||||||||||
| CASH | ||||||||||||||||
| 12. CURRENCY ON HAND | $ | 0 | ||||||||||||||
| 13. TOTAL CASH - END OF MONTH | $ | 35,458 | ||||||||||||||
Monthly Operating Report
ACCRUAL BASIS-6
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | August 2015 |
| PAYMENTS TO INSIDERS AND PROFESSIONALS | ||||||||||||
| INSIDERS | ||||||||||||
| TYPE OF | AMOUNT | TOTAL PAID | ||||||||||
| NAME | PAYMENT | PAID | TO DATE | |||||||||
| 1. | ||||||||||||
| 2. | ||||||||||||
| 3. | ||||||||||||
| 4. | ||||||||||||
| 5. | ||||||||||||
| 6. TOTAL PAYMENTS TO INSIDERS | $ | 0 | $ | 0 | ||||||||
| PROFESSIONALS | 3 | |||||||||||||||||
| DATE OF COURT | TOTAL | |||||||||||||||||
| ORDER AUTHORIZING | AMOUNT | AMOUNT | TOTAL PAID | INCURRED | ||||||||||||||
| NAME | PAYMENT | APPROVED | PAID | TO DATE | & UNPAID | |||||||||||||
| 1. Asset Servicing Group | $ | 561,383 | ||||||||||||||||
| 2. Bridgepoint Consulting | $ | 258,119 | ||||||||||||||||
| 3. Epiq Bankruptcy Solutions | 05/22/15 | $ | 1,361,324 | $ | 250,000 | $ | 373,992 | $ | 987,332 | 4 | ||||||||
| 4. Forshey & Prostok, LLP | 04/28/15 | $ | 154,409 | $ | 57,613 | $ | 96,796 | 1 | ||||||||||
| 5. Kevin Buchanan & Associates | 07/01/15 | $ | 140,235 | $ | 140,235 | |||||||||||||
| 6. Kim Hinkle, Attorney at Law | $ | 174,713 | ||||||||||||||||
| 7. MMS Advisors | $ | 217,600 | 2 | |||||||||||||||
| 8. Munsch, Hardt, Kopf & Harr, P.C. | $ | 1,175,000 | ||||||||||||||||
| 9. Phillips Murrah | $ | 150,334 | ||||||||||||||||
| 10. Pronske Goolsby & Kathman, P.C. | 05/05/15 | $ | 128,618 | $ | 100,000 | $ | 28,618 | 1 | ||||||||||
| 11. Thompson & Knight, LLP | $ | 5,353,500 | ||||||||||||||||
| 12. Tom Moran, US Trustee | $ | 336,900 | ||||||||||||||||
| 13. Smith, Jackson, Boyer & Bovard, PLLC | $ | 53,000 | ||||||||||||||||
| 14. Inventus, LLC | $ | 25,000 | $ | 25,000 | 4 | |||||||||||||
| 15. TOTAL PAYMENTS TO PROFESSIONALS | $ | 275,000 | $ | 556,606 | $ | 9,533,530 | ||||||||||||
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
| SCHEDULED | AMOUNTS | |||||||||||
| MONTHLY | PAID | TOTAL | ||||||||||
| PAYMENTS | DURING | UNPAID | ||||||||||
| NAME OF CREDITOR | DUE | MONTH | POSTPETITION | |||||||||
| 1. Bank Direct Capital Finance | $ | 1,105 | $ | 1,105 | $ | 6,521 | ||||||
| 2. | ||||||||||||
| 3. | ||||||||||||
| 4. | ||||||||||||
| 5. | ||||||||||||
| 6. TOTAL | $ | 1,105 | $ | 1,105 | $ | 6,521 | ||||||
| 1 | The payments reflected here are retainers paid in prior months by Life Partners, Inc. |
| 2 | MMS Advisors incurred fees and expenses March 13th - May 18th in the estimated amount of $230,000.00 that are not included here since their retention has not been approved for this period of time. |
| 3 | Professional fees and expenses estimated and accrued prior to May 19th are reflected only on the books of Life Partners Holdings, Inc. Thereafter, professional fees and expenses reflect the estimated aggregate, unallocated fees and expenses for all of the Debtors, and are noted on each of the Debtors MORs. |
| 4 | Current month payments to professionals were made by Life Partners, Inc. |
Monthly Operating Report
ACCRUAL BASIS-7
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | August 2015 |
QUESTIONNAIRE
| YES | NO | |||||
| 1. | HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? | X | ||||
| 2. | HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? | X | ||||
| 3. | ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? | X | ||||
| 4. | HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? | X | ||||
| 5. | HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? | X | ||||
| 6. | ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? | X | ||||
| 7. | ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? | X | ||||
| 8. | ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? | X | ||||
| 9. | ARE ANY OTHER POSTPETITION TAXES PAST DUE? | X | ||||
| 10. | ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? | X | ||||
| 11. | HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? | X | ||||
| 12. | ARE ANY WAGE PAYMENTS PAST DUE? | X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES," PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
Questionnaire Item 10. Past due amounts are mainly professional fees incurred after the filing date.
INSURANCE
| YES | NO | |||||
| 1. | ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? | X | ||||
| 2. | ARE ALL PREMIUM PAYMENTS PAID CURRENT? | X | ||||
| 3. | PLEASE ITEMIZE POLICIES BELOW. |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO," OR IF ANY POLICIES HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSTALLMENT PAYMENTS
| TYPE OF | PAYMENT AMOUNT | |||||||
| POLICY | CARRIER | PERIOD COVERED | & FREQUENCY | |||||
| Directors & Officers | Illinois National | 09/01/14 - 08/31/15 | 1 | |||||
| Errors & Omissions | Indian Harbor | 09/01/14 - 08/31/15 | 1 | |||||
| Total for Financed thru AFCO | $ | 34,288.35 /month | ||||||
| Commercial Package* | Allied Insurance | 06/14/15 - 06/13/16 | $ | 1,073.07 /month | ||||
| Commercial Fine Arts | Travelers Lloyds Insurance | 06/14/15 - 06/14/16 | $ | 285.10 /month | ||||
| Cyber Liability | Beazley Insurance | 05/12/15 - 06/12/16 | $ | 1,104.82 /month | ||||
* includes auto, building, edp, excess liability
| 1 | This obligation has been paid in full. |
| Life Partners Holdings Inc | Exhibit 1 |
| Distributions made by Life Partners, Inc. for LPHI Obligations | |
| Period Ending 8/31/15 |
| Number | Date Paid | Vendor | Paid by | Amount Paid | Purpose | |||||||
| wire | 8/31/2015 | Todd Associates, Inc | LPI wire | $ | 33,000.00 | Insurance Payment | ||||||
| Total Paid | $ | 33,000.00 | ||||||||||
Exhibit 99.8
| Monthly Operating Report | |
| ACCRUAL BASIS |
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| JUDGE: | Russell Nelms |
UNITED STATES BANKRUPTCY COURT
NORTHERN & EASTERN DISTRICTS OF TEXAS
REGION 6
MONTHLY OPERATING REPORT
| MONTH ENDING: | August | 2015 | ||
| MONTH | YEAR |
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT, AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
RESPONSIBLE PARTY:
| /s/ H. Thomas Moran II | Trustee | |
| ORIGINAL SIGNATURE OF RESPONSIBLE PARTY | TITLE | |
| H. Thomas Moran II | 9/21/2015 | |
| PRINTED NAME OF RESPONSIBLE PARTY | DATE |
| PREPARER: | ||
| /s/ Colette Pieper | CEO | |
| ORIGINAL SIGNATURE OF PREPARER | TITLE | |
| Colette Pieper | 9/21/2015 | |
| PRINTED NAME OF PREPARER | DATE |
Monthly Operating Report
ACCRUAL BASIS-1
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
COMPARATIVE BALANCE SHEET
| SCHEDULE AMOUNT | JUNE | JULY | AUGUST | |||||||||||||||
| ASSETS | ||||||||||||||||||
| 1. | UNRESTRICTED CASH | $ | 295,821 | $ | 163,663 | $ | 50,034 | $ | 122,481 | |||||||||
| 2. | RESTRICTED CASH | $ | 101,555 | $ | 101,569 | $ | 101,584 | $ | 101,599 | |||||||||
| 3. | TOTAL CASH | $ | 397,376 | $ | 265,232 | $ | 151,618 | $ | 224,080 | |||||||||
| 4. | ACCOUNTS RECEIVABLE (NET) | $ | 143,949 | $ | 135,456 | $ | 135,456 | $ | 135,456 | |||||||||
| 5. | INVENTORY | |||||||||||||||||
| 6. | NOTES RECEIVABLE | $ | 8,912 | |||||||||||||||
| 7. | PREPAID EXPENSES | $ | 343,387 | $ | 111,549 | $ | 94,558 | $ | 117,417 | |||||||||
| 8. | OTHER (ATTACH LIST) | $ | 49,475 | $ | 57,857 | $ | 56,956 | $ | 58,153 | |||||||||
| 9. | TOTAL CURRENT ASSETS | $ | 943,098 | $ | 570,094 | $ | 438,588 | $ | 535,106 | |||||||||
| 10. | PROPERTY, PLANT & EQUIPMENT | $ | 2,229,987 | $ | 2,229,987 | $ | 2,229,987 | |||||||||||
| 11. | LESS: ACCUMULATED DEPRECIATION/DEPLETION | $ | (1,910,365 | ) | $ | (1,917,345 | ) | $ | (1,923,673 | ) | ||||||||
| 12. | NET PROPERTY, PLANT & EQUIPMENT | $ | 299,672 | $ | 319,622 | $ | 312,642 | $ | 306,314 | |||||||||
| 13. | DUE FROM INSIDERS | $ | 74,265,951 | $ | 0 | $ | 0 | $ | 0 | |||||||||
| 14. | OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) | $ | 662,950 | $ | 662,950 | $ | 662,950 | $ | 662,950 | |||||||||
| 15. | OTHER (ATTACH LIST) | $ | 13,513,629 | $ | 13,073,453 | $ | 13,311,061 | $ | 13,314,901 | |||||||||
| 16. | TOTAL ASSETS | $ | 89,685,300 | $ | 14,626,119 | $ | 14,725,240 | $ | 14,819,271 | |||||||||
| POSTPETITION LIABILITIES | ||||||||||||||||||
| 17. | ACCOUNTS PAYABLE | $ | 612,578 | $ | 532,781 | $ | 291,016 | |||||||||||
| 18. | TAXES PAYABLE | $ | 22,635 | $ | 12,070 | $ | 10,568 | |||||||||||
| 19. | NOTES PAYABLE | $ | 0 | |||||||||||||||
| 20. | PROFESSIONAL FEES | $ | 4,875 | $ | 738,528 | $ | 2,314,197 | |||||||||||
| 21. | SECURED DEBT | $ | 0 | |||||||||||||||
| 22. | OTHER (ATTACH LIST) | $ | 5,185,638 | $ | 5,150,207 | $ | 5,161,945 | |||||||||||
| 23. | TOTAL POSTPETITION LIABILITIES | $ | 5,825,725 | $ | 6,433,586 | $ | 7,777,726 | |||||||||||
| PREPETITION LIABILITIES | ||||||||||||||||||
| 24. | SECURED DEBT | undetermined | $ | 8,476 | $ | 8,476 | $8,476 | 2 | ||||||||||
| 25. | PRIORITY DEBT | undetermined | $ | 90,306 | $ | 90,306 | $ | 90,306 | ||||||||||
| 26. | UNSECURED DEBT | $ | 9,203,450 | $ | 687,793 | $ | 686,751 | $ | 686,751 | |||||||||
| 27. | OTHER (ATTACH LIST) | $ | 0 | $ | 0 | $ | 0 | |||||||||||
| 28. | TOTAL PREPETITION LIABILITIES | $ | 9,203,450 | $ | 786,574 | $ | 785,533 | $ | 785,533 | |||||||||
| 29. | TOTAL LIABILITIES | $ | 9,203,450 | $ | 6,612,299 | $ | 7,219,119 | $ | 8,563,258 | |||||||||
| EQUITY | ||||||||||||||||||
| 30. | PREPETITION OWNERS' EQUITY | $ | 78,978,770 | $ | 78,978,770 | $ | 78,978,770 | |||||||||||
| 31. | POSTPETITION CUMULATIVE PROFIT OR (LOSS) | $ | (1,072,167 | ) | $ | (2,345,577 | ) | $ | (4,262,686 | ) | ||||||||
| 32. | DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) | $ | (69,892,783 | ) | $ | (69,127,072 | ) | $(68,460,072 | )1 | |||||||||
| 33. | TOTAL EQUITY | $ | 8,013,820 | $ | 7,506,121 | $ | 6,256,012 | |||||||||||
| 34. | TOTAL LIABILITIES & OWNERS' EQUITY | $ | 14,626,119 | $ | 14,725,240 | $ | 14,819,271 | |||||||||||
| 1 | This includes the following intercompany amounts: |
| Due from Life Partners Holdings, Inc. | $ | 74,359,704.91 | ||
| Due from LPHI Management Services | $ | 11,719.74 | ||
| Due to LPI Financial Services, Inc. | $ | (5,911,353.03 | ) | |
| $ | 68,460,071.62 |
| 2 | The figure shown here is accrued property taxes for the prepetition period of Jan. 1, 2015 thru May 19, 2015. |
Monthly Operating Report
SUPPLEMENT TO
ACCRUAL BASIS-1
| CASE NAME: | Life Partners, Inc. | |
| CASE NUMBER: | 15-40289 (Jointly Administered) | |
COMPARATIVE BALANCE SHEET
| SCHEDULE AMOUNT | JUNE | JULY | AUGUST | |||||||||||||||
| 8. OTHER CURRENT ASSETS | ||||||||||||||||||
| 8. | Pardo Family Holdings Trust (Advance to Price L. Johnson, PC) | $ | 25,000 | $ | 25,000 | $ | 25,000 | $ | 25,000 | |||||||||
| 8. | Pardo Family Holdings Trust (Advance to Kyle, Mathis & Lucas, LLP) | $ | 15,505 | $ | 15,505 | $ | 15,505 | $ | 15,505 | |||||||||
| 8. | ESP Communications Duplicate Payment | $ | 7,500 | $ | 7,500 | $ | 7,500 | $ | 7,500 | |||||||||
| 8. | Advance Trust & Life Escrow Services, LTA (Abandonment Premiums) | $ | 5,064 | $ | 5,064 | $ | 5,064 | |||||||||||
| 8. | Purchase Escrow Services (Abandonment Premiums) | $ | 3,429 | $ | 3,429 | $ | 3,429 | |||||||||||
| 8. | Employee Advances | $ | 992 | $ | 881 | $ | (20 | ) | ||||||||||
| 8. | Notes Receivable-Employee | $ | 477 | $ | 477 | $ | 477 | $ | 1,655 | |||||||||
| 8 | ||||||||||||||||||
| 8. | TOTAL - OTHER CURRENT ASSETS | $ | 49,475 | $ | 57,857 | $ | 56,956 | $ | 58,153 | |||||||||
| 14. OTHER ASSETS - NET OF AMORTIZATION | ||||||||||||||||||
| 14. | Woolly Mammoth & Other Prehistoric Artifacts | $ | 662,950 | $ | 662,950 | $ | 662,950 | $ | 662,950 | |||||||||
| 14. | ||||||||||||||||||
| 14. | ||||||||||||||||||
| 14. | ||||||||||||||||||
| 14. | ||||||||||||||||||
| 14. | TOTAL - OTHER ASSETS (Net of Amort.) | $ | 662,950 | $ | 662,950 | $ | 662,950 | $ | 662,950 | |||||||||
| 15. OTHER ASSETS | ||||||||||||||||||
| 15. | TDL, LLC Misappropriation of Foreign Exchange Funds | $ | 257,395 | |||||||||||||||
| 15. | Advance on Premiums paid by PES on behalf of investors | $ | 13,083,062 | $ | 13,209,139 | $ | 13,541,644 | $ | 13,585,166 | |||||||||
| 15. | Advance on Premiums paid by ATLES on behalf of investors | $ | 136,291 | $ | 140,536 | $ | 140,536 | $ | 140,536 | |||||||||
| 15. | Allowance for Bad Debts | $ | (5,356,838 | ) | $ | (5,476,845 | ) | $ | (5,483,317 | ) | ||||||||
| 15. | Overpayments of Commissions Receivable | $ | 36,881 | |||||||||||||||
| 15. | Deferred Income Tax Benefit | $ | 4,632,419 | $ | 4,632,419 | $ | 4,632,419 | |||||||||||
| 15. | Policy Purchase | $ | 161,605 | $ | 161,505 | $ | 123,591 | |||||||||||
| 15. | Capitalized Premiums on Policies Purchased | $ | 280,238 | $ | 295,991 | $ | 300,793 | |||||||||||
| 15. | Deposits | $ | 6,355 | $ | 15,712 | $ | 15,712 | |||||||||||
| 15. | TOTAL - OTHER ASSETS | $ | 13,513,629 | $ | 13,073,453 | $ | 13,310,961 | $ | 13,314,901 | |||||||||
| POSTPETITION LIABILITIES | ||||||||||||||||||
| 22. | Accrued Payroll | $ | 74,282 | $ | 41,456 | $ | 50,305 | |||||||||||
| 22. | Accrued Vacation | $ | 79,088 | $ | 81,236 | $ | 84,125 | |||||||||||
| 22. | Accrued 401K | $ | 3,986 | $ | 0 | $ | - | |||||||||||
| 22. | 401K Loan | $ | 614 | $ | 0 | $ | - | |||||||||||
| 22. | Child Support & PR Garnishment | $ | 152 | $ | 0 | $ | - | |||||||||||
| 22. | Deferred Revenue | $ | 5,027,515 | $ | 5,027,515 | $ | 5,027,515 | |||||||||||
| 22 | TOTAL - OTHER POSTPETITION LIABILITIES | $ | 5,185,638 | $ | 5,150,207 | $ | 5,161,945 | |||||||||||
Monthly Operating Report
ACCRUAL BASIS-2
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| INCOME STATEMENT | May19-June30 | JULY | AUGUST | MONTH | ||||||||||||||
| REVENUES | ||||||||||||||||||
| 1. | GROSS REVENUES | |||||||||||||||||
| 2. | LESS: RETURNS & DISCOUNTS | |||||||||||||||||
| 3. | NET REVENUE | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||
| COST OF GOODS SOLD | ||||||||||||||||||
| 4. | MATERIAL | $ | 0 | |||||||||||||||
| 5. | DIRECT LABOR | $ | 0 | |||||||||||||||
| 6. | DIRECT OVERHEAD | $ | 31,060 | $ | 14,937 | $ | 19,450 | |||||||||||
| 7. | TOTAL COST OF GOODS SOLD | $ | 31,060 | $ | 14,937 | $ | 19,450 | $ | 0 | |||||||||
| 8. | GROSS PROFIT | $ | (31,060 | ) | $ | (14,937 | ) | $ | (19,450 | ) | $ | 0 | ||||||
| OPERATING EXPENSES | ||||||||||||||||||
| 9. | OFFICER / INSIDER COMPENSATION | $ | 43,877 | $ | 34,279 | $ | 28,794 | |||||||||||
| 10. | SELLING & MARKETING | |||||||||||||||||
| 11. | GENERAL & ADMINISTRATIVE | $ | 380,272 | $ | 265,732 | $ | 242,833 | |||||||||||
| 12. | RENT & LEASE | $ | 14,240 | $ | 18,452 | $ | 17,098 | |||||||||||
| 13. | OTHER (ATTACH LIST) | $ | 80,533 | $ | 139,091 | $ | 38,302 | |||||||||||
| 14. | TOTAL OPERATING EXPENSES | $ | 518,922 | $ | 457,554 | $ | 327,028 | $ | 0 | |||||||||
| 15. | INCOME BEFORE NON-OPERATING INCOME & EXPENSE | $ | (549,982 | ) | $ | (472,491 | ) | $ | (346,478 | ) | $ | 0 | ||||||
| OTHER INCOME & EXPENSES | ||||||||||||||||||
| 16. | NON-OPERATING INCOME (ATTACH LIST) | $ | (33 | ) | $ | (56 | ) | $ | (11,490 | ) | ||||||||
| 17. | NON-OPERATING EXPENSE (ATTACH LIST) | |||||||||||||||||
| 18. | INTEREST EXPENSE | |||||||||||||||||
| 19. | DEPRECIATION / DEPLETION | $ | 13,960 | $ | 6,980 | $ | 6,327 | |||||||||||
| 20. | AMORTIZATION | |||||||||||||||||
| 21. | OTHER (ATTACH LIST) | $ | 2,300 | $ | 7,593 | |||||||||||||
| 22. | NET OTHER INCOME & EXPENSES | $ | 16,227 | $ | 14,517 | $ | (5,163 | ) | $ | 0 | ||||||||
| REORGANIZATION EXPENSES | ||||||||||||||||||
| 23. | PROFESSIONAL FEES | $ | 501,083 | $ | 781,528 | $ | 1,575,668 | |||||||||||
| 24. | U.S. TRUSTEE FEES | $ | 4,875 | $ | 4,875 | |||||||||||||
| 25. | OTHER (ATTACH LIST) | $ | 126 | |||||||||||||||
| 26. | TOTAL REORGANIZATION EXPENSES | $ | 505,958 | $ | 786,403 | $ | 1,575,794 | $ | 0 | |||||||||
| 27. | INCOME TAX | |||||||||||||||||
| 28. | NET PROFIT (LOSS) | $ | (1,072,167 | ) | $ | (1,273,410 | ) | $ | (1,917,109 | ) | $ | 0 | ||||||
Monthly Operating Report
SUPPLEMENT TO
ACCRUAL BASIS-2
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| INCOME STATEMENT | JUNE | JULY | AUGUST | |||||||||||
| OTHER OPERATING EXPENSES | ||||||||||||||
| 13. | Bad Debt Expense | $ | 68,455 | $ | 120,008 | |||||||||
| 13. | Other Expense- Premium Expense | $ | 10,942 | $ | 18,143 | $ | 289 | |||||||
| 13. | Other Expense- BK Premiums | $ | 1,136 | $ | 941 | |||||||||
| 13. | Impairment Expense | $ | - | $ | - | $ | 38,013 | |||||||
| 13. | TOTAL - OTHER OPERATING EXPENSE | $ | 80,533 | $ | 139,091 | $ | 38,302 | |||||||
| NON-OPERATING INCOME | ||||||||||||||
| 16. | Interest Income | $ | 29 | $ | 15 | $ | 11,490 | |||||||
| 16. | Other Income | $ | 4 | $ | 42 | |||||||||
| 16. | ||||||||||||||
| 16. | ||||||||||||||
| 16. | ||||||||||||||
| 16. | TOTAL NON-OPERATING INCOME | $ | 33 | $ | 56 | $ | 11,490 | |||||||
| NON-OPERATING EXPENSE | ||||||||||||||
| 17. | Franchise Tax | $ | 7,593 | |||||||||||
| 17. | State Income Tax-Other | $ | 2,300 | |||||||||||
| 17. | ||||||||||||||
| 17. | ||||||||||||||
| 17. | ||||||||||||||
| 17. | ||||||||||||||
| 17. | ||||||||||||||
| 17. | TOTAL - NON-OPERATING EXPENSE | $ | 2,300 | $ | 7,593 | $ | - | |||||||
| OTHER EXPENSES | ||||||||||||||
| 21. | Transcription Services | $ | 126 | |||||||||||
| 21. | ||||||||||||||
| 21. | ||||||||||||||
| 21. | ||||||||||||||
| 21. | ||||||||||||||
| 21 | TOTAL - OTHER EXPENSES/(INCOME) | $ | - | $ | - | $ | 126 | |||||||
Monthly Operating Report
ACCRUAL BASIS-3
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| CASH RECEIPTS AND DISBURSEMENTS | May19-June30 | JULY | AUGUST | MONTH | QUARTER | |||||||||||||||||
| 1. | CASH - BEGINNING OF MONTH | $ | 397,376 | $ | 265,232 | $ | 151,618 | $ | 224,080 | |||||||||||||
| RECEIPTS FROM OPERATIONS | ||||||||||||||||||||||
| 2. | CASH SALES | $ | 0 | |||||||||||||||||||
| COLLECTION OF ACCOUNTS RECEIVABLE | ||||||||||||||||||||||
| 3. | PREPETITION | $ | 2,868 | $ | 37 | $ | 124 | $ | 161 | |||||||||||||
| 4. | POSTPETITION | $ | 0 | |||||||||||||||||||
| 5. | TOTAL OPERATING RECEIPTS | $ | 2,868 | $ | 37 | $ | 124 | $ | 0 | $ | 161 | |||||||||||
| NON-OPERATING RECEIPTS | ||||||||||||||||||||||
| 6. | LOANS & ADVANCES (ATTACH LIST) | $ | 0 | |||||||||||||||||||
| 7. | SALE OF ASSETS | $ | 0 | |||||||||||||||||||
| 8. | OTHER (ATTACH LIST) | $ | 655,093 | $ | 815,868 | $ | 713,551 | $ | 1,529,419 | |||||||||||||
| 9. | TOTAL NON-OPERATING RECEIPTS | $ | 655,093 | $ | 815,868 | $ | 713,551 | $ | 0 | $ | 1,529,419 | |||||||||||
| 10. | TOTAL RECEIPTS | $ | 657,961 | $ | 815,905 | $ | 713,675 | $ | 0 | $ | 1,529,580 | |||||||||||
| 11. | TOTAL CASH AVAILABLE | $ | 1,055,337 | $ | 1,081,137 | $ | 865,293 | $ | 224,080 | |||||||||||||
| OPERATING DISBURSEMENTS | ||||||||||||||||||||||
| 12. | NET PAYROLL | $ | 704 | $ | 170,683 | $ | 112,468 | $ | 283,151 | |||||||||||||
| 13. | PAYROLL TAXES PAID | $ | 35,121 | $ | 59,905 | $ | 39,049 | $ | 98,954 | |||||||||||||
| 14. | SALES, USE & OTHER TAXES PAID | $ | 2,300 | $ | 0 | |||||||||||||||||
| 15. | SECURED / RENTAL / LEASES | $ | 14,623 | $ | 18,362 | $ | 7,137 | $ | 25,499 | |||||||||||||
| 16. | UTILITIES | $ | 13,980 | $ | 26,063 | $ | 10,024 | $ | 36,087 | |||||||||||||
| 17. | INSURANCE | $ | 86,546 | $ | 67,418 | $ | 62,429 | $ | 129,847 | |||||||||||||
| 18. | INVENTORY PURCHASES | $ | 0 | |||||||||||||||||||
| 19. | VEHICLE EXPENSES | $ | 0 | |||||||||||||||||||
| 20. | TRAVEL | $ | 1,796 | $ | 1,658 | $ | 1,188 | $ | 2,846 | |||||||||||||
| 21. | ENTERTAINMENT | $ | 0 | |||||||||||||||||||
| 22. | REPAIRS & MAINTENANCE | $ | 6,746 | $ | 2,900 | $ | 4,487 | $ | 7,387 | |||||||||||||
| 23. | SUPPLIES | $ | 830 | $ | 1,565 | $ | 195 | $ | 1,760 | |||||||||||||
| 24. | ADVERTISING | $ | 0 | |||||||||||||||||||
| 25. | OTHER (ATTACH LIST) | $ | 627,459 | $ | 481,647 | $ | 129,111 | $ | 610,758 | |||||||||||||
| 26. | TOTAL OPERATING DISBURSEMENTS | $ | 790,105 | $ | 830,202 | $ | 366,087 | $ | 0 | $ | 1,196,289 | |||||||||||
| REORGANIZATION EXPENSES | ||||||||||||||||||||||
| 27. | PROFESSIONAL FEES | $ | 98,992 | $ | 275,000 | $ | 373,992 | |||||||||||||||
| 28. | U.S. TRUSTEE FEES | $ | 325 | $ | 325 | |||||||||||||||||
| 29. | OTHER (ATTACH LIST) | $ | 126 | $126 | 2 | |||||||||||||||||
| 30. | TOTAL REORGANIZATION EXPENSES | $ | 0 | $ | 99,317 | $ | 275,126 | $ | 0 | $ | 374,443 | |||||||||||
| 31. | TOTAL DISBURSEMENTS | $ | 790,105 | $ | 929,519 | $ | 641,213 | $ | 0 | $ | 1,570,732 | |||||||||||
| 32. | NET CASH FLOW | $ | (132,144 | ) | $ | (113,614 | ) | $ | 72,462 | $ | 0 | $ | (41,152 | ) | ||||||||
| 33. | CASH - END OF MONTH | $ | 265,232 | $ | 151,618 | $ | 224,080 | $ | 224,080 | |||||||||||||
| 2 | Other Item 29. is transcription services. |
Monthly Operating Report
SUPPLEMENT TO
ACCRUAL BASIS-3
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| CASH RECEIPTS AND DISBURSEMENTS | MONTH END 06/30/15 | MONTH END 07/31/15 | MONTH END 08/31/15 | |||||||||||
| OTHER NON-OPERATING RECEIPTS | ||||||||||||||
| 8. | A/R Collections-Pd in Error | $ | - | $ | - | $ | - | |||||||
| 8. | Flow Thru Premiums | $ | 332,105 | $ | - | $ | - | |||||||
| 8. | Transfer From LPIFS Checking Acct# 4069 | $ | 250,000 | $ | 800,000 | $ | 700,000 | |||||||
| 8. | Interest Income | $ | 15 | $ | 15 | $ | 11,485 | |||||||
| 8. | LPI FS Platform Fees Received | $ | 1,938 | $ | - | $ | - | |||||||
| 8. | Other Inc-dividends on pd out policies | $ | 4 | $ | 42 | $ | - | |||||||
| 8. | Other Income | $ | 0 | $ | - | $ | - | |||||||
| 8. | Return of retainer | $ | 6,142 | $ | 15,000 | $ | - | |||||||
| 8. | Reimbursements & Refunds-COBRA insurance | $ | - | $ | 412 | $ | 2,029 | |||||||
| 8. | Reimbursements & Refunds-Employee Advance | $ | - | $ | 20 | $ | - | |||||||
| 8. | Reimbursements & Refunds-License & Fees | $ | - | $ | 9 | $ | - | |||||||
| 8. | Reimbursements & Refunds-Travel | $ | - | $ | 370 | $ | - | |||||||
| 8. | Reimbursements & Refunds-Other | $ | - | $ | - | $ | 37 | |||||||
| 8. | Transfer from LPIFS | $ | 3,442 | $ | - | $ | - | |||||||
| 8. | Transferred from LPHI BoTX Acct | $ | 61,398 | $ | - | $ | - | |||||||
| 8. | Trust Fees | $ | 50 | $ | - | $ | - | |||||||
| 8. | Total - Non-Operating Receipts | $ | 655,093 | $ | 815,868 | $ | 713,551 | |||||||
| OTHER OPERATING DISBURSEMENTS | ||||||||||||||
| 25. | Premiums Advanced | $ | 143,567 | $ | 350,503 | $ | 43,935 | |||||||
| 25. | Premiums-LPI Owned positions | $ | - | $ | 20,901 | $ | 4,803 | |||||||
| 25. | Bank Fees (Charged & Reversed) | $ | 395 | $ | 555 | $ | 670 | |||||||
| 25. | BK Premiums | $ | 1,136 | $ | 941 | $ | - | |||||||
| 25. | Courier Services | $ | 1,167 | $ | 5,486 | $ | - | |||||||
| 25. | Flow Thru Premiums | $ | 314,088 | $ | 18,017 | $ | - | |||||||
| 25. | Licenses & Fees | $ | - | $ | 31 | $ | 500 | |||||||
| 25. | LPI FS Platform Fees Forwarded | $ | 1,938 | $ | - | $ | - | |||||||
| 25. | Medical Records | $ | 250 | $ | - | $ | - | |||||||
| 25. | Medical Review Life Expectancy | $ | - | $ | 700 | $ | - | |||||||
| 25. | Outside Services | $ | 6,480 | $ | 2,608 | $ | 1,783 | |||||||
| 25. | Payroll Garnishment | $ | 152 | $ | 456 | $ | 304 | |||||||
| 25. | Payroll-401K deductions | $ | 13,722 | $ | 13,796 | $ | 9,290 | |||||||
| 25. | PES Operating Exp | $ | 60,834 | $ | 34,235 | $ | 29,471 | |||||||
| 25. | Software Licenses & Support | $ | 5,543 | $ | - | $ | 5,152 | |||||||
| 25. | Policy Administration Expense | $ | - | $ | - | $ | 11,465 | |||||||
| 25. | Subscriptions | $ | - | $ | 5,109 | $ | 951 | |||||||
| 25. | Tfrd to LPHI BoTX Acct in error | $ | 61,398 | $ | - | $ | - | |||||||
| 25. | Trust Fees/Cost Reimbursement | $ | 16,790 | $ | 28,308 | $ | 19,487 | |||||||
| 25. | Employee Loan | $ | - | $ | - | $ | 1,300 | |||||||
| 25. | Total - Other Operating Disbursements | $ | 627,459 | $ | 481,647 | $ | 129,111 | |||||||
| OTHER REORGANIZATION EXPENSES | ||||||||||||||
| 29. | ||||||||||||||
| 29. | ||||||||||||||
| 29. | Total - Other Reorganization Expenses | $ | - | $ | - | $ | - | |||||||
Monthly Operating Report
ACCRUAL BASIS-4
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
|
ACCOUNTS RECEIVABLE AGING |
SCHEDULE AMOUNT |
JUNE | JULY | AUGUST | ||||||||||||||
| 1. | 0-30 | $ | 139,890 | $ | 155,881 | $ | 332,514 | $ | 43,274 | |||||||||
| 2. | 31-60 | $ | 279,914 | $ | 44,627 | $ | 160,126 | $ | 280,577 | |||||||||
| 3. | 61-90 | $ | 77,762 | $ | 127,550 | $ | 44,627 | $ | 212,053 | |||||||||
| 4. | 91+ | $ | 12,721,787 | $ | 13,021,052 | $ | 13,145,171 | $ | 13,189,797 | |||||||||
| 5. | TOTAL ACCOUNTS RECEIVABLE | $ | 13,219,353 | $ | 13,349,110 | $ | 13,682,437 | $ | 13,725,702 | 1 | ||||||||
| 6. | AMOUNT CONSIDERED UNCOLLECTIBLE | $ | 5,163,790 | $ | 5,163,790 | $ | 5,476,845 | $ | 5,483,317 | 1 | ||||||||
| 7. | ACCOUNTS RECEIVABLE (NET) | $ | 8,055,563 | $ | 8,185,320 | $ | 8,205,592 | $ | 8,242,385 | 1 | ||||||||
| AGING OF POSTPETITION TAXES AND PAYABLES | MONTH: | August 2015 | ||||||||||||||||||||
| 0-30 | 31-60 | 61-90 | 91+ | |||||||||||||||||||
| TAXES PAYABLE | DAYS | DAYS | DAYS | DAYS | TOTAL | |||||||||||||||||
| 1. | FEDERAL | $ | 0 | |||||||||||||||||||
| 2. | STATE | $ | 0 | |||||||||||||||||||
| 3. | LOCAL | $ | 4,477 | $ | 4,477 | |||||||||||||||||
| 4. | OTHER (ATTACH LIST) | $ | 0 | |||||||||||||||||||
| 5. | TOTAL TAXES PAYABLE | $ | 4,477 | $ | 0 | $ | 0 | $ | 0 | $ | 4,477 | |||||||||||
| 6. | ACCOUNTS PAYABLE | $ | 73,610 | $ | 81,056 | $ | 135,829 | $ | 522 | $ | 291,016 | |||||||||||
| STATUS OF POSTPETITION TAXES | MONTH: | August 2015 | ||||||||||||||||
| BEGINNING | AMOUNT | ENDING | ||||||||||||||||
| TAX | WITHHELD AND/ | AMOUNT | TAX | |||||||||||||||
| FEDERAL | LIABILITY | 0R ACCRUED | PAID | LIABILITY | ||||||||||||||
| 1. | WITHHOLDING | $ | 16,810 | $ | 16,810 | $ | 0 | |||||||||||
| 2. | FICA-EMPLOYEE | $ | 11,047 | $ | 11,047 | $ | 0 | |||||||||||
| 3. | FICA-EMPLOYER | $ | 11,047 | $ | 11,047 | $ | 0 | |||||||||||
| 4. | UNEMPLOYMENT | $ | 6 | $ | 6 | $ | 0 | |||||||||||
| 5. | INCOME | $ | 0 | |||||||||||||||
| 6. | OTHER (ATTACH LIST) | $ | 0 | |||||||||||||||
| 7. | TOTAL FEDERAL TAXES | $ | 0 | $ | 38,910 | $ | 38,910 | $ | 0 | |||||||||
| STATE AND LOCAL | ||||||||||||||||||
| 8. | WITHHOLDING | $ | 0 | |||||||||||||||
| 9. | SALES | $ | 0 | |||||||||||||||
| 10. | EXCISE | $ | 0 | |||||||||||||||
| 11. | UNEMPLOYMENT | $ | 139 | $ | 139 | $ | 0 | |||||||||||
| 12. | REAL PROPERTY | $ | 4,477 | $ | 4,477 | 2 | ||||||||||||
| 13. | PERSONAL PROPERTY | $ | 0 | |||||||||||||||
| 14. | OTHER (ATTACH LIST) | $ | 7,593 | $ | (1,502 | ) | $ | 6,091 | 3 | |||||||||
| 15. | TOTAL STATE & LOCAL | $ | 12,070 | $ | (1,363 | ) | $ | 139 | $ | 10,568 | ||||||||
| 16. | TOTAL TAXES | $ | 12,070 | $ | 37,547 | $ | 39,049 | $ | 10,568 | |||||||||
| 1 | These amounts are reported in detail on Supplement To Accrual Basis-1. |
| 2 | The figures shown here do not include $8,475.58 accrued for the prepetition period of Jan. 1, 2015 thru May 19, 2015. |
| 3 | Item 14. Other is accrual of Texas Franchise Tax. |
Monthly Operating Report
ACCRUAL BASIS-5
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH: | August 2015 | |||||||||||||||||
| BANK RECONCILIATIONS | ||||||||||||||||||
| Account #1 | Account #2 | Account #3 | ||||||||||||||||
| A. BANK: | Bank of Texas | Bank of Texas | ||||||||||||||||
| B. ACCOUNT NUMBER: | 4080 | 4091 | ||||||||||||||||
| C. PURPOSE (TYPE): | Checking | Checking | TOTAL | |||||||||||||||
| 1. | BALANCE PER BANK STATEMENT | $ | 140,199 | $ | 309 | $ | 140,509 | |||||||||||
| 2. | ADD: TOTAL DEPOSITS NOT CREDITED | $ | 0 | |||||||||||||||
| 3. | SUBTRACT: OUTSTANDING CHECKS | $ | 18,528 | $ | 18,528 | |||||||||||||
| 4. | OTHER RECONCILING ITEMS | $ | 0 | |||||||||||||||
| 5. | MONTH END BALANCE PER BOOKS | $ | 121,671 | $ | 309 | $ | 0 | $ | 121,981 | |||||||||
| 6. | NUMBER OF LAST CHECK WRITTEN | 1219 | 1010 | |||||||||||||||
| INVESTMENT ACCOUNTS | ||||||||||||||||||
| DATE OF | TYPE OF | PURCHASE | CURRENT | |||||||||||||||
| BANK, ACCOUNT NAME & NUMBER | PURCHASE | INSTRUMENT | PRICE | VALUE | ||||||||||||||
| 7. | TD Bank, Life Partners, Inc. Acct 70-T202-01-2 | unknown | MoneyMarket | $ | 101,599 | |||||||||||||
| 8. | ||||||||||||||||||
| 9. | ||||||||||||||||||
| 10. | ||||||||||||||||||
| 11. | TOTAL INVESTMENTS | $ | 0 | $ | 101,599 | |||||||||||||
| CASH | ||||||||||||||||||
| 12. | CURRENCY ON HAND | $ | 500 | |||||||||||||||
| 13. | TOTAL CASH - END OF MONTH | $ | 224,080 | |||||||||||||||
Monthly Operating Report
ACCRUAL BASIS-6
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH: | August 2015 |
PAYMENTS TO INSIDERS AND PROFESSIONALS
| INSIDERS | ||||||||||||
| TYPE OF | AMOUNT | TOTAL PAID | ||||||||||
| NAME | PAYMENT | PAID | TO DATE | |||||||||
| 1. | Mark Embry | Salaries/Expense Reimbursement | $ | 13,594 | $ | 34,177 | ||||||
| 2. | Advance Trust & Life Es | Premium Remittance/Cost Reimb | $ | 19,487 | $ | 89,053 | ||||||
| 3. | Life Partners Holdings, Inc. | Rent & Return deposit in error | $ | 81,398 | ||||||||
| 4. | LPI Financial Services, Inc. | Forward Platform Fees | $ | 1,938 | ||||||||
| 5. | Purchase Escrow Services, LLC | Premium Remittance/Cost Reimb | $ | 77,308 | $ | 972,001 | ||||||
| 6. | Colette Pieper | Salaries/Expense Reimbursement | $ | 14,193 | $ | 35,135 | ||||||
| 7. | Debora J. Carr | Salaries/Expense Reimbursement | $ | 3,750 | $ | 9,375 | ||||||
| 8. | TOTAL PAYMENTS TO INSIDERS | $ | 128,332 | $ | 1,223,078 | |||||||
| PROFESSIONALS | 2 | |||||||||||||||||||
| DATE OF COURT | TOTAL | |||||||||||||||||||
| ORDER AUTHORIZING | AMOUNT | AMOUNT | TOTAL PAID | INCURRED | ||||||||||||||||
| NAME | PAYMENT | APPROVED | PAID | TO DATE | & UNPAID | |||||||||||||||
| 1. | Asset Servicing Group | $ | 258,656 | |||||||||||||||||
| 2. | Bridgepoint Consulting | $ | 258,119 | |||||||||||||||||
| 3. | Epiq Bankruptcy Solutions | 05/22/15 | $ | 1,336,306 | $ | 250,000 | $ | 348,992 | $ | 987,314 | ||||||||||
| 4. | Kim Hinkle, Attorney at Law | $ | 114,113 | |||||||||||||||||
| 5. | MMS Advisors | $ | 217,600 | 3 | ||||||||||||||||
| 6. | Munsch, Hardt, Kopf & Harr,P.C. | $ | 564,047 | |||||||||||||||||
| 7. | Thompson & Knight LLP | $ | 3,603,500 | |||||||||||||||||
| 8. | Tom Moran, US Trustee | $ | 217,900 | |||||||||||||||||
| 9. | Phillips Murrah | $ | 150,334 | |||||||||||||||||
| 10. | Smith, Jackson, Boyer & Brovard, PLLC | $ | 53,000 | |||||||||||||||||
| 11. | Inventus, LLC | $ | 25,000 | $ | 25,000 | |||||||||||||||
| 12. | ||||||||||||||||||||
| 13. | TOTAL PAYMENTS TO PROFESSIONALS | $ | 275,000 | $ | 373,992 | $ | 6,424,583 | |||||||||||||
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
| SCHEDULED | AMOUNTS | |||||||||||||
| MONTHLY | PAID | TOTAL | ||||||||||||
| PAYMENTS | DURING | UNPAID | ||||||||||||
| NAME OF CREDITOR | DUE | MONTH | POSTPETITION | |||||||||||
| 1. | 1. Pitney Bowes Global Financial Services, LLC | $ | 5,423 | $ | 0 | $ | 0 | 1 | ||||||
| 2. | 2. Pitney Bowes Global Financial Services, LLC | $ | 906 | $ | 906 | $ | 0 | 1 | ||||||
| 3. | 3. Johnnies Office Systems, Inc. | $ | 1,055 | $ | 3,292 | $ | 0 | |||||||
| 4. | 4. Great America Financial Services | $ | 2,939 | $ | 2,939 | $ | 0 | |||||||
| 5. | 5. Life Partners Holdings, Inc. | $ | 10,000 | $ | 10,000 | |||||||||
| 7. | TOTAL | $ | 20,323 | $ | 7,137 | $ | 10,000 | |||||||
| 1 | These lease payments are quarterly, not monthly. |
| 2 | Professional fees and expenses estimated and accrued prior to May 19th are reflected only on the books of Life Partners Holdings, Inc. Thereafter, professional fees and expenses reflect the estimated aggregate, unallocated fees and expenses for all of the Debtors, and are noted on each of the Debtors MORs. |
| 3 | MMS Advisors incurred fees and expenses March 13th - May 18th in the estimated amount of $230,000.00 that are not included here since their retention has not been approved for this period of time. |
Monthly Operating Report
ACCRUAL BASIS-7
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH: | August 2015 |
| QUESTIONNAIRE | ||||||
| YES | NO | |||||
| 1. | HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? | X | ||||
| 2. | HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? | X | ||||
| 3. | ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? | X | ||||
| 4. | HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? | X | ||||
| 5. | HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? | X | ||||
| 6. | ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? | X | ||||
| 7. | ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? | X | ||||
| 8. | ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? | X | ||||
| 9. | ARE ANY OTHER POSTPETITION TAXES PAST DUE? | X | ||||
| 10. | ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? | X | ||||
| 11. | HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? | X | ||||
| 12. | ARE ANY WAGE PAYMENTS PAST DUE? | X | ||||
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES," PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSURANCE
|
|
YES | NO | ||||
| 1. | ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? | X | ||||
| 2. | ARE ALL PREMIUM PAYMENTS PAID CURRENT? | X | ||||
| 3. | PLEASE ITEMIZE POLICIES BELOW. |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO," OR IF ANY POLICIES HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSTALLMENT PAYMENTS
| TYPE OF | PAYMENT AMOUNT | |||||||
| POLICY | CARRIER | PERIOD COVERED | & FREQUENCY | |||||
| Workers Compensation | Service Lloyds Ins. Co. | 6/14/2015-6/14/2016 | $ | 316.00/month | ||||
Exhibit 99.9
Monthly Operating Report
ACCRUAL BASIS
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| JUDGE: | Russell Nelms |
UNITED STATES BANKRUPTCY COURT
NORTHERN & EASTERN DISTRICTS OF TEXAS
REGION 6
MONTHLY OPERATING REPORT
| MONTH ENDING: | August | 2015 | ||
| MONTH | YEAR |
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT, AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
RESPONSIBLE PARTY:
| /s/ H. Thomas Moran II | Trustee | |
| ORIGINAL SIGNATURE OF RESPONSIBLE PARTY | TITLE | |
| H. Thomas Moran II | 9/21/2015 | |
| PRINTED NAME OF RESPONSIBLE PARTY | DATE |
| PREPARER: | ||
| /s/ Colette Pieper | CEO | |
| ORIGINAL SIGNATURE OF PREPARER | TITLE | |
| Colette Pieper | 9/21/2015 | |
| PRINTED NAME OF PREPARER | DATE |
Monthly Operating Report
ACCRUAL BASIS-1
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
COMPARATIVE BALANCE SHEET
| SCHEDULE AMOUNT | MONTH June 30, 2015 | MONTH July 31, 2015 | MONTH August 31, 2015 | |||||||||||||
| ASSETS | ||||||||||||||||
| 1. UNRESTRICTED CASH | $ | 1,744,873 | $ | 2,122,124 | $ | 1,363,573 | $ | 694,146 | ||||||||
| 2. RESTRICTED CASH | ||||||||||||||||
| 3. TOTAL CASH | $ | 1,744,873 | $ | 2,122,124 | $ | 1,363,573 | $ | 694,146 | ||||||||
| 4. ACCOUNTS RECEIVABLE (NET) | $ | 2,741,107 | 2 | |||||||||||||
| 5. INVENTORY | ||||||||||||||||
| 6. NOTES RECEIVABLE | ||||||||||||||||
| 7. PREPAID EXPENSES | ||||||||||||||||
| 8. OTHER (ATTACH LIST) | ||||||||||||||||
| 9. TOTAL CURRENT ASSETS | $ | 4,485,981 | $ | 2,122,124 | $ | 1,363,573 | $ | 694,146 | ||||||||
| 10. PROPERTY, PLANT & EQUIPMENT | ||||||||||||||||
| 11. LESS: ACCUMULATED DEPRECIATION/DEPLETION | ||||||||||||||||
| 12. NET PROPERTY, PLANT & EQUIPMENT | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||
| 13. DUE FROM INSIDERS | $ | 4,157,912 | 1 | |||||||||||||
| 14. OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) | ||||||||||||||||
| 15. OTHER (ATTACH LIST) | ||||||||||||||||
| 16. TOTAL ASSETS | $ | 8,643,892 | $ | 2,122,124 | $ | 1,363,573 | $ | 694,146 | ||||||||
| POSTPETITION LIABILITIES | ||||||||||||||||
| 17. ACCOUNTS PAYABLE | $ | 1,439 | $ | 2,660 | $ | 4,840 | ||||||||||
| 18. TAXES PAYABLE | ||||||||||||||||
| 19. NOTES PAYABLE | ||||||||||||||||
| 20. PROFESSIONAL FEES | $ | 194,009 | ||||||||||||||
| 21. SECURED DEBT | ||||||||||||||||
| 22. OTHER (ATTACH LIST) | $ | 4,875 | $ | 650 | $ | 650 | ||||||||||
| 23. TOTAL POSTPETITION LIABILITIES | $ | 6,314 | $ | 3,310 | $ | 199,499 | ||||||||||
| PREPETITION LIABILITIES | ||||||||||||||||
| 24. SECURED DEBT | ||||||||||||||||
| 25. PRIORITY DEBT | unknown | |||||||||||||||
| 26. UNSECURED DEBT | $ | 9,001 | $ | 1,062 | $ | 1,062 | $ | 1,062 | ||||||||
| 27. OTHER (ATTACH LIST) | ||||||||||||||||
| 28. TOTAL PREPETITION LIABILITIES | $ | 9,001 | $ | 1,062 | $ | 1,062 | $ | 1,062 | ||||||||
| 29. TOTAL LIABILITIES | $ | 9,001 | $ | 7,376 | $ | 4,372 | $ | 200,560 | ||||||||
| EQUITY | ||||||||||||||||
| 30. PREPETITION OWNERS' EQUITY | $ | 5,901,723 | $ | 5,901,723 | $ | 5,901,723 | ||||||||||
| 31. POSTPETITION CUMULATIVE PROFIT OR (LOSS) | $ | 624,378 | $ | 668,831 | $ | 503,215 | ||||||||||
| 32. DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) | $ | (4,411,353 | ) | $ | (5,211,353 | ) | $ | (5,911,353 | )1 | |||||||
| 33. TOTAL EQUITY | $ | 2,114,749 | $ | 1,359,202 | $ | 493,586 | ||||||||||
| 34. TOTAL LIABILITIES & OWNERS' EQUITY | $ | 2,122,124 | $ | 1,363,573 | $ | 694,146 | ||||||||||
1 This is Intercompany Due From Life Partners, Inc. reported on Schedule B Item 16 and shown above under Item 13. Due From Insiders.
2 The Debtor LPIFS records receipts on a cash basis and accordingly, does not carry receivable balances. The Schedules note a receivables balance as if receipts were recorded on an accrual basis as of the petition date.
Monthly Operating Report
SUPPLEMENT TO
ACCRUAL BASIS-1
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
COMPARATIVE BALANCE SHEET
| SCHEDULE AMOUNT | MONTH June 30, 2015 | MONTH July 31, 2015 | MONTH August 31, 2015 | |||||||||||||
| POSTPETITION LIABILITIES | ||||||||||||||||
| 22. US TRUSTEE FEES | $ | 4,875 | $ | 650 | $ | 650 | ||||||||||
| 23. TOTAL POSTPETITION LIABILITIES | $ | 4,875 | $ | 650 | $ | 650 | ||||||||||
Monthly Operating Report
ACCRUAL BASIS-2
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
INCOME STATEMENT
| MONTH | June | July | August | |||||||||||||
| REVENUES | ||||||||||||||||
| 1. GROSS REVENUES | $ | 644,823 | $ | 43,875 | $ | 52,937 | ||||||||||
| 2. LESS: RETURNS & DISCOUNTS | ||||||||||||||||
| 3. NET REVENUE | $ | 0 | $ | 644,823 | $ | 43,875 | $ | 52,937 | ||||||||
| COST OF GOODS SOLD | ||||||||||||||||
| 4. MATERIAL | ||||||||||||||||
| 5. DIRECT LABOR | ||||||||||||||||
| 6. DIRECT OVERHEAD | ||||||||||||||||
| 7. TOTAL COST OF GOODS SOLD | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||
| 8. GROSS PROFIT | $ | 0 | $ | 644,823 | $ | 43,875 | $ | 52,937 | ||||||||
| OPERATING EXPENSES | ||||||||||||||||
| 9. OFFICER / INSIDER COMPENSATION | ||||||||||||||||
| 10. SELLING & MARKETING | ||||||||||||||||
| 11. GENERAL & ADMINISTRATIVE | $ | 15,570 | $ | 3,322 | $ | 24,543 | ||||||||||
| 12. RENT & LEASE | ||||||||||||||||
| 13. OTHER (ATTACH LIST) | ||||||||||||||||
| 14. TOTAL OPERATING EXPENSES | $ | 0 | $ | 15,570 | $ | 3,322 | $ | 24,543 | ||||||||
| 15. INCOME BEFORE NON-OPERATING INCOME & EXPENSE | $ | 0 | $ | 629,253 | $ | 40,553 | $ | 28,393 | ||||||||
| OTHER INCOME & EXPENSES | ||||||||||||||||
| 16. NON-OPERATING INCOME (ATTACH LIST) | ||||||||||||||||
| 17. NON-OPERATING EXPENSE (ATTACH LIST) | ||||||||||||||||
| 18. INTEREST EXPENSE | ||||||||||||||||
| 19. DEPRECIATION / DEPLETION | ||||||||||||||||
| 20. AMORTIZATION | ||||||||||||||||
| 21. OTHER (ATTACH LIST) | ||||||||||||||||
| 22. NET OTHER INCOME & EXPENSES | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||
| REORGANIZATION EXPENSES | ||||||||||||||||
| 23. PROFESSIONAL FEES | $ | 194,009 | ||||||||||||||
| 24. U.S. TRUSTEE FEES | $ | 4,875 | $ | (3,900 | ) | |||||||||||
| 25. OTHER (ATTACH LIST) | ||||||||||||||||
| 26. TOTAL REORGANIZATION EXPENSES | $ | 0 | $ | 4,875 | $ | (3,900 | ) | $ | 194,009 | |||||||
| 27. INCOME TAX | ||||||||||||||||
| 28. NET PROFIT (LOSS) | $ | 0 | $ | 624,378 | $ | (44,453 | $ | (165,616 | ) | |||||||
Monthly Operating Report
ACCRUAL BASIS-3
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| May 19, 2015 to June 30, 2015 | MONTH July 31, 2015 | MONTH August 31, 2015 | QUARTER | |||||||||||||
| CASH RECEIPTS AND DISBURSEMENTS | ||||||||||||||||
| 1. CASH - BEGINNING OF MONTH | $ | 1,744,873 | $ | 2,122,124 | $ | 1,363,573 | ||||||||||
| RECEIPTS FROM OPERATIONS | ||||||||||||||||
| 2. CASH SALES | $ | 644,823 | $ | 43,875 | $ | 52,937 | $ | 96,812 | ||||||||
| COLLECTION OF ACCOUNTS RECEIVABLE | ||||||||||||||||
| 3. PREPETITION | $ | 0 | ||||||||||||||
| 4. POSTPETITION | $ | 0 | ||||||||||||||
| 5. TOTAL OPERATING RECEIPTS | $ | 644,823 | $ | 43,875 | $ | 52,937 | $ | 96,812 | ||||||||
| NON-OPERATING RECEIPTS | ||||||||||||||||
| 6. LOANS & ADVANCES (ATTACH LIST) | $ | 0 | ||||||||||||||
| 7. SALE OF ASSETS | $ | 0 | ||||||||||||||
| 8. OTHER (ATTACH LIST) | $ | 35,484 | $ | 0 | ||||||||||||
| 9. TOTAL NON-OPERATING RECEIPTS | $ | 35,484 | $ | 0 | $ | 0 | $ | 0 | ||||||||
| 10. TOTAL RECEIPTS | $ | 680,307 | $ | 43,875 | $ | 52,937 | $ | 96,812 | ||||||||
| 11. TOTAL CASH AVAILABLE | $ | 2,425,181 | $ | 2,166,000 | $ | 1,416,510 | ||||||||||
| OPERATING DISBURSEMENTS | ||||||||||||||||
| 12. NET PAYROLL | $ | 0 | ||||||||||||||
| 13. PAYROLL TAXES PAID | $ | 0 | ||||||||||||||
| 14. SALES, USE & OTHER TAXES PAID | $ | 0 | ||||||||||||||
| 15. SECURED / RENTAL / LEASES | $ | 0 | ||||||||||||||
| 16. UTILITIES | $ | 0 | ||||||||||||||
| 17. INSURANCE | $ | 0 | ||||||||||||||
| 18. INVENTORY PURCHASES | $ | 0 | ||||||||||||||
| 19. VEHICLE EXPENSES | $ | 0 | ||||||||||||||
| 20. TRAVEL | $ | 0 | ||||||||||||||
| 21. ENTERTAINMENT | $ | 0 | ||||||||||||||
| 22. REPAIRS & MAINTENANCE | $ | 0 | ||||||||||||||
| 23. SUPPLIES (August includes postage of $19,580) | $ | 9,507 | $ | 22,186 | $ | 22,186 | ||||||||||
| 24. ADVERTISING | $ | 0 | ||||||||||||||
| 25. OTHER (ATTACH LIST) | $ | 293,549 | $ | 802,101 | $ | 700,178 | $ | 1,502,279 | ||||||||
| 26. TOTAL OPERATING DISBURSEMENTS | $ | 303,057 | $ | 802,101 | $ | 722,364 | $ | 1,524,465 | ||||||||
| REORGANIZATION EXPENSES | ||||||||||||||||
| 27. PROFESSIONAL FEES | $ | 0 | ||||||||||||||
| 28. U.S. TRUSTEE FEES | $ | 325 | $ | 325 | ||||||||||||
| 29. OTHER (ATTACH LIST) | $ | 0 | ||||||||||||||
| 30. TOTAL REORGANIZATION EXPENSES | $ | 0 | $ | 325 | $ | 0 | $ | 325 | ||||||||
| 31. TOTAL DISBURSEMENTS | $ | 303,057 | $ | 802,426 | $ | 722,364 | $ | 1,524,790 | 4 | |||||||
| 32. NET CASH FLOW | $ | 377,251 | $ | (758,551 | ) | $ | (669,428 | ) | $ | (1,427,979 | ) | |||||
| 33. CASH - END OF MONTH | $ | 2,122,124 | $ | 1,363,573 | $ | 694,146 | ||||||||||
4 Total Disbursements includes the following amounts that are NOT disbursements, but are transfers of funds between bank accounts (from LPI Financial Services account to Life Partners, Inc. account) for the periods shown below.
| May 19,2015 to June 30,2015 | $ | 253,441.77 | ||
| July 31, 2015 | $ | 800,000.00 | ||
| August 31, 2015 | $ | 700,000.00 |
Monthly Operating Report
SUPPLEMENT TO
ACCRUAL BASIS-3
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| CASH RECEIPTS AND DISBURSEMENTS | May 19, 2015 to June 30, 2015 | MONTH July 31, 2015 | MONTH August 31, 2015 | QUARTER | ||||||||||||
| NON-OPERATING RECEIPTS (OTHER) | ||||||||||||||||
| 8. DIVIDENDS FORWARD TO LPI | $ | 4 | $ | 0 | ||||||||||||
| 8. FLOW THRU PREMIUMS | $ | 32,448 | $ | 0 | ||||||||||||
| 8. PREMIUMS RETURNED | $ | 3,012 | $ | 0 | ||||||||||||
| 8. SPOILED POSTAGE REFUND | $ | 21 | $ | 0 | ||||||||||||
| 9. TOTAL NON-OPERATING RECEIPTS | $ | 35,484 | $ | 0 | $ | 0 | $ | 0 | ||||||||
| OPERATING DISBURSEMENTS | ||||||||||||||||
| 25. BANK FEES | $ | 891 | $ | 652 | $ | 114 | $ | 766 | 2 | |||||||
| 25. CREDIT CARD PROCESSING FEES | $ | 5,193 | $ | 10 | $ | 10 | $ | 20 | ||||||||
| 25. DIVIDENDS FORWARD TO LPI | $ | 4 | $ | 0 | ||||||||||||
| 25. FLOW THRU PREMIUMS | $ | 31,009 | $ | 1,439 | $ | 1,439 | ||||||||||
| 25. PREMIUMS RETURNED | $ | 3,012 | $ | 0 | ||||||||||||
| 25. TRANSFER TO LPI | $ | 250,000 | $ | 800,000 | $ | 700,000 | $ | 1,500,000 | ||||||||
| 25. TRANSFER TO LPI BANK ACCOUNT | $ | 3,442 | $ | 0 | ||||||||||||
| 25. LICENSES & FEES | $ | 54 | $ | 54 | ||||||||||||
| 26. TOTAL OPERATING DISBURSEMENTS (OTHER) | $ | 293,549 | $ | 802,101 | $ | 700,178 | $ | 1,502,279 | ||||||||
Monthly Operating Report
ACCRUAL BASIS-4
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| ACCOUNTS RECEIVABLE AGING | SCHEDULE AMOUNT | MONTH June 30, 2015 | MONTH July 31, 2015 | MONTH August 31, 2015 | ||||||||||||
| 1. 0-30 | ||||||||||||||||
| 2. 31-60 | $ | 803,662 | ||||||||||||||
| 3. 61-90 | ||||||||||||||||
| 4. 91+ | $ | 1,937,445 | ||||||||||||||
| 5. TOTAL ACCOUNTS RECEIVABLE | $ | 2,741,107 | $ | 0 | $ | 0 | $ | 0 | 2 | |||||||
| 6. AMOUNT CONSIDERED UNCOLLECTIBLE | ||||||||||||||||
| 7. ACCOUNTS RECEIVABLE (NET) | $ | 2,741,107 | $ | 0 | $ | 0 | $ | 0 | ||||||||
| AGING OF POSTPETITION TAXES AND PAYABLES | MONTH: | August 2015 | ||||||||||||||||||
| 0-30 | 31-60 | 61-90 | 91+ | |||||||||||||||||
| TAXES PAYABLE | DAYS | DAYS | DAYS | DAYS | TOTAL | |||||||||||||||
| 1. FEDERAL | $ | 0 | ||||||||||||||||||
| 2. STATE | $ | 0 | ||||||||||||||||||
| 3. LOCAL | $ | 0 | ||||||||||||||||||
| 4. OTHER (ATTACH LIST) | $ | 0 | ||||||||||||||||||
| 5. TOTAL TAXES PAYABLE | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||
| 6. ACCOUNTS PAYABLE | $ | 4,840 | $ | 4,840 | 1 | |||||||||||||||
| STATUS OF POSTPETITION TAXES | MONTH: | August 2015 | ||||||||||||||
| BEGINNING | AMOUNT | ENDING | ||||||||||||||
| TAX | WITHHELD AND/ | AMOUNT | TAX | |||||||||||||
| LIABILITY | 0R ACCRUED | PAID | LIABILITY | |||||||||||||
| FEDERAL | ||||||||||||||||
| 1. WITHHOLDING | $ | 0 | ||||||||||||||
| 2. FICA-EMPLOYEE | $ | 0 | ||||||||||||||
| 3. FICA-EMPLOYER | $ | 0 | ||||||||||||||
| 4. UNEMPLOYMENT | $ | 0 | ||||||||||||||
| 5. INCOME | $ | 0 | ||||||||||||||
| 6. OTHER (ATTACH LIST) | $ | 0 | ||||||||||||||
| 7. TOTAL FEDERAL TAXES | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||
| STATE AND LOCAL | ||||||||||||||||
| 8. WITHHOLDING | $ | 0 | ||||||||||||||
| 9. SALES | $ | 0 | ||||||||||||||
| 10. EXCISE | $ | 0 | ||||||||||||||
| 11. UNEMPLOYMENT | $ | 0 | ||||||||||||||
| 12. REAL PROPERTY | $ | 0 | ||||||||||||||
| 13. PERSONAL PROPERTY | $ | 0 | ||||||||||||||
| 14. OTHER (ATTACH LIST) | $ | 0 | ||||||||||||||
| 15. TOTAL STATE & LOCAL | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||
| 16. TOTAL TAXES | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||
1 This is a payable to American Express for office supplies used to print invoices.
2 The Debtor LPIFS records receipts on a cash basis and accordingly, does not carry receivable balances. The Schedules note a receivable balance as if receipts were recorded on an accrual basis as of the petition date.
Monthly Operating Report
ACCRUAL BASIS-5
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH: | August 2015 | |||||||||||||||
| BANK RECONCILIATIONS | ||||||||||||||||
| Account #1 | Account #2 | Account #3 | ||||||||||||||
| A. BANK: | ||||||||||||||||
| B. ACCOUNT NUMBER: | 4069 | TOTAL | ||||||||||||||
| C. PURPOSE (TYPE): | ||||||||||||||||
| 1. BALANCE PER BANK STATEMENT | $ | 694,146 | $ | 694,146 | ||||||||||||
| 2. ADD: TOTAL DEPOSITS NOT CREDITED | $ | 0 | ||||||||||||||
| 3. SUBTRACT: OUTSTANDING CHECKS | $ | 0 | ||||||||||||||
| 4. OTHER RECONCILING ITEMS | $ | 0 | ||||||||||||||
| 5. MONTH END BALANCE PER BOOKS | $ | 694,146 | $ | 0 | $ | 0 | $ | 694,146 | ||||||||
| 6. NUMBER OF LAST CHECK WRITTEN | 1012 | |||||||||||||||
| INVESTMENT ACCOUNTS | ||||||||||||||||
| DATE OF | TYPE OF | PURCHASE | CURRENT | |||||||||||||
| BANK, ACCOUNT NAME & NUMBER | PURCHASE | INSTRUMENT | PRICE | VALUE | ||||||||||||
| 7. | ||||||||||||||||
| 8. | ||||||||||||||||
| 9. | ||||||||||||||||
| 10. | ||||||||||||||||
| 11. TOTAL INVESTMENTS | $ | 0 | $ | 0 | ||||||||||||
| CASH | ||||||||||||||||
| 12. CURRENCY ON HAND | $ | 0 | ||||||||||||||
| 13. TOTAL CASH - END OF MONTH | $ | 694,146 | ||||||||||||||
Monthly Operating Report
ACCRUAL BASIS-6
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH: | August 2015 | ||
| PAYMENTS TO INSIDERS AND PROFESSIONALS |
| INSIDERS | ||||||||||||||||||||
| TYPE OF | AMOUNT | TOTAL PAID | ||||||||||||||||||
| NAME | PAYMENT | PAID | TO DATE | |||||||||||||||||
| 1. | ||||||||||||||||||||
| 2. | ||||||||||||||||||||
| 3. | ||||||||||||||||||||
| 4. | ||||||||||||||||||||
| 5. | ||||||||||||||||||||
| 6. TOTAL PAYMENTS TO INSIDERS | $ | 0 | $ | 0 | ||||||||||||||||
PROFESSIONALS
| DATE OF COURT | TOTAL | ||||||||||||||||||||
| ORDER AUTHORIZING | AMOUNT | AMOUNT | TOTAL PAID | INCURRED | |||||||||||||||||
| NAME | PAYMENT | APPROVED | PAID | TO DATE | & UNPAID | ||||||||||||||||
| 1. Asset Servicing Group | $ | 258,656 | |||||||||||||||||||
| 2. Bridgepoint Consulting | $ | 258,119 | |||||||||||||||||||
| 3. Epiq Bankruptcy Solutions | 05/22/15 | $ | 1,336,324 | $ | 250,000 | $ | 348,992 | $ | 987,332 | ||||||||||||
| 4. Kim Hinkle, Attorney at Law | $ | 114,113 | |||||||||||||||||||
| 5. MMS Advisors | $ | 217,600 | 5 | ||||||||||||||||||
| 6. Munsch, Hardt, Kopf & Harr,P.C. | $ | 564,047 | |||||||||||||||||||
| 7. Thompson & Knight LLP | $ | 3,603,500 | |||||||||||||||||||
| 8. Tom Moran, US Trustee | $ | 217,900 | |||||||||||||||||||
| 9. Phillips Murrah | $ | 150,334 | |||||||||||||||||||
| 10. Smith, Jackson, Boyer, & Bobard, PLLC | $ | 53,000 | |||||||||||||||||||
| 11. Inventus | $ | 25,000 | $ | 25,000 | $ | 0 | |||||||||||||||
| 11. TOTAL PAYMENTS TO PROFESSIONALS | $ | 275,000 | $ | 373,992 | $ | 6,424,601 | 3 | ||||||||||||||
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE
PROTECTION PAYMENTS
| SCHEDULED | AMOUNTS | |||||||||||||||
| MONTHLY | PAID | TOTAL | ||||||||||||||
| PAYMENTS | DURING | UNPAID | ||||||||||||||
| NAME OF CREDITOR | DUE | MONTH | POSTPETITION | |||||||||||||
| 1. | ||||||||||||||||
| 2. | ||||||||||||||||
| 3. | ||||||||||||||||
| 4. | ||||||||||||||||
| 5. | ||||||||||||||||
| 6. TOTAL | $ | 0 | $ | 0 | $ | 0 | ||||||||||
3 Professional fees and expenses estimated and accrued prior to May 19th are reflected only on the books of Life Partners Holdings, Inc. Thereafter, professional fees and expenses reflect the estimated aggregate, unallocated fees and expenses for all of the Debtors, and are noted on each of the Debtors MORs.
5 MMS Advisors incurred fees and expenses March 13th - May 18th in the estimated amount of $230,000.00 that are not included here since their retention has not been approved for this period of time.
Monthly Operating Report
ACCRUAL BASIS-7
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-40289 (Jointly Administered) |
| MONTH: | August 2015 |
QUESTIONNAIRE
| YES | NO | |||
| 1. HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? | x | |||
| 2. HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? | x | |||
| 3. ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? | x | |||
| 4. HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? | x | |||
| 5. HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? | x | |||
| 6. ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? | x | |||
| 7. ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? | x | |||
| 8. ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? | x | |||
| 9. ARE ANY OTHER POSTPETITION TAXES PAST DUE? | x | |||
| 10. ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? | x | |||
| 11. HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? | x | |||
| 12. ARE ANY WAGE PAYMENTS PAST DUE? | x |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES," PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
| INSURANCE | ||||
| YES | NO | |||
| 1. ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? | x | |||
| 2. ARE ALL PREMIUM PAYMENTS PAID CURRENT? | x | |||
| 3. PLEASE ITEMIZE POLICIES BELOW. |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO," OR IF ANY POLICIES HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
| INSTALLMENT PAYMENTS | ||||||||
| TYPE OF | PAYMENT AMOUNT | |||||||
| POLICY | CARRIER | PERIOD COVERED | & FREQUENCY | |||||
Exhibit 99.10
Monthly Operating Report
CASH BASIS
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| JUDGE: | Russell Nelms |
UNITED STATES BANKRUPTCY COURT
NORTHERN & EASTERN DISTRICTS OF TEXAS
REGION 6
MONTHLY OPERATING REPORT
| MONTH ENDING: | July | 2015 | ||||
| MONTH | YEAR |
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (CASH BASIS-1 THROUGH CASH BASIS-6) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT, AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
RESPONSIBLE PARTY:
| Trustee | ||
| ORIGINAL SIGNATURE OF RESPONSIBLE PARTY | TITLE | |
| H. Thomas Moran II | 8/20/2015 | |
| PRINTED NAME OF RESPONSIBLE PARTY | DATE | |
| PREPARER: | ||
| CEO | ||
| ORIGINAL SIGNATURE OF PREPARER | TITLE | |
| Colette Pieper | 8/20/2015 | |
| PRINTED NAME OF PREPARER | DATE | |
| NOTES: | ||
| Schedule Amounts were updated per the amended filing on 7/2/15. |
Monthly Operating Report
CASH BASIS-1
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| CASH RECEIPTS AND | MONTH | MONTH | MONTH | MONTH | ||||||||||||
| DISBURSEMENTS | Apr 30,2015 | May 31,2015 | June 30,2015 | July 31,2015 | ||||||||||||
| 1. CASH - BEGINNING OF MONTH | $ | 34,256.39 | $ | 12,603.29 | $ | 21,359.90 | $ | 34,681.70 | ||||||||
| RECEIPTS | ||||||||||||||||
| 2. CASH SALES | ||||||||||||||||
| 3. ACCOUNTS RECEIVABLE COLLECTIONS | ||||||||||||||||
| 4. LOANS AND ADVANCES | ||||||||||||||||
| 5. SALE OF ASSETS | ||||||||||||||||
| 6. LEASE & RENTAL INCOME | $ | 10,000.00 | $ | 10,000.00 | $ | 22,000.00 | $ | 10,000.00 | 11 | |||||||
| 7. WAGES | ||||||||||||||||
| 8. OTHER (ATTACH LIST) | $ | 61,398.28 | 2 | |||||||||||||
| 9. TOTAL RECEIPTS | $ | 10,000.00 | $ | 71,398.28 | $ | 22,000.00 | $ | 10,000.00 | ||||||||
| DISBURSEMENTS | ||||||||||||||||
| 10. NET PAYROLL | ||||||||||||||||
| 11. PAYROLL TAXES PAID | ||||||||||||||||
| 12. SALES,USE & OTHER TAXES PAID | $ | 150.00 | ||||||||||||||
| 13. INVENTORY PURCHASES | ||||||||||||||||
| 14. MORTAGE PAYMENTS | ||||||||||||||||
| 15. OTHER SECURED NOTE PAYMENTS | ||||||||||||||||
| 16. RENTAL & LEASE PAYMENTS | ||||||||||||||||
| 17. UTILITIES | ||||||||||||||||
| 18. INSURANCE | $ | 1,058.43 | $ | 1,054.43 | $ | 2,462.99 | $ | 2,475.99 | ||||||||
| 19. VEHICLE EXPENSES | ||||||||||||||||
| 20. TRAVEL | ||||||||||||||||
| 21. ENTERTAINMENT | ||||||||||||||||
| 22. REPAIRS & MAINTENANCE | ||||||||||||||||
| 23. SUPPLIES | $ | 433.02 | $ | 484.65 | ||||||||||||
| 24. ADVERTISING | ||||||||||||||||
| 25. HOUSEHOLD EXPENSES | ||||||||||||||||
| 26. CHARITABLE CONTRIBUTIONS | ||||||||||||||||
| 27. GIFTS | ||||||||||||||||
| 28. OTHER (ATTACH LIST) | $ | 28,211.65 | $ | 61,587.24 | $ | 5,580.56 | $ | 5,018.31 | 2 | |||||||
| 29. TOTAL ORDINARY DISBURSEMENTS | $ | 29,703.10 | $ | 62,641.67 | $ | 8,678.20 | $ | 7,494.30 | ||||||||
| REORGANIZATION EXPENSES | ||||||||||||||||
| 30. PROFESSIONAL FEES | ||||||||||||||||
| 31. U.S. TRUSTEE FEES | $ | 1,950.00 | $ | 1,950.00 | ||||||||||||
| 32. OTHER (ATTACH LIST) | $ | 1,488.30 | 2 | |||||||||||||
| 33. TOTAL REORGANIZATION EXPENSES | $ | 1,950.00 | $ | - | $ | - | $ | 3,438.30 | ||||||||
| 34. TOTAL DISBURSEMENTS | $ | 31,653.10 | $ | 62,641.67 | $ | 8,678.20 | $ | 10,932.60 | 1 | |||||||
| 35. NET CASH FLOW | $ | (21,653.10 | ) | $ | 8,756.61 | $ | 13,321.80 | $ | (932.60 | ) | ||||||
| 36. CASH - END OF MONTH | $ | 12,603.29 | $ | 21,359.90 | $ | 34,681.70 | $ | 33,749.10 | ||||||||
| 1 | Attached Exhibit 1 lists all disbursements by LPI, Inc. on behalf of LPHI for the month. |
| 2 | Attached Exhibit 3 list receipts in "8. Other" and disbursements in "28. Other" and "32. Other" above. |
| 11 | Includes Rental Income for the buildings and for the airport hangar. |
Monthly Operating Report
CASH BASIS-1A
2015
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| CASH DISBURSEMENTS DETAIL | MONTH: | July |
CASH DISBURSEMENTS
| DATE | PAYEE | PURPOSE | AMOUNT | |||||||||
| TOTAL CASH DISBURSEMENTS | $ | - | ||||||||||
BANK ACCOUNT DISBURSEMENTS
| CK# | DATE | PAYEE | PURPOSE | AMOUNT | ||||||
| 001001 | 7/1/2015 | Shareholder.com | Web Page Hosting | $ | 3,749.65 | |||||
| 001002 | 7/8/2015 | Allied Insurance | Business Insurance | $ | 1,076.07 | |||||
| 001003 | 7/8/2015 | Bank Direct Capital Finance | Cyber Liability Insurance | $ | 1,104.82 | |||||
| 001004 | 7/8/2015 | Travelers Insurance Network of TX | Insurance on artifacts | $ | 295.10 | |||||
| bank fee | 07/14/15 | Bank of Texas | Account Analysis Fees | $ | 231.16 | |||||
| 001005 | 7/15/2015 | Kathleen M. Rehling | Transcription Services | $ | 1,488.30 | |||||
| bank fee | 07/24/15 | Bank of Texas | Reverse Analysis Fee | $ | (12.50 | ) | ||||
| 001006 | 7/27/2015 | U.S. Trustee | U.S. Trustee Fees | $ | 1,950.00 | |||||
| 001007 | 7/30/2015 | American Stock Transfer & Trust Co. | Registrar & Transfer Fees | $ | 1,050.00 | |||||
| TOTAL BANK ACCOUNT DISBURSEMENTS | $ | 10,932.60 | ||||||||
| TOTAL DISBURSEMENTS FOR THE MONTH | $ | 10,932.60 | 1 | |||||||
1 Attached Exhibit 1 lists all disbursements by LPI, Inc. on behalf of LPHI for the month.
Monthly Operating Report
CASH BASIS-2
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| BANK RECONCILIATIONS | ||||||||||||||||
| Acct #1 | Acct #2 | Acct #3 | ||||||||||||||
| A. BANK: | Bank of America | Alliance | Bank of Texas | |||||||||||||
| B. ACCOUNT NUMBER: | 3363 | 0613 | 3772 | |||||||||||||
| C. PURPOSE (TYPE): | DIP Acct | MM | Checking | TOTAL | ||||||||||||
| 1. BALANCE PER BANK STATEMENT | $ | - | $ | - | $ | 36,287.40 | $ | 36,287.40 | ||||||||
| 2. ADD: TOTAL DEPOSITS NOT CREDITED | $ | - | ||||||||||||||
| 3. SUBTRACT: OUTSTANDING CHECKS | $ | 2,538.30 | $ | 2,538.30 | ||||||||||||
| 4. OTHER RECONCILING ITEMS | $ | - | ||||||||||||||
| 5. MONTH END BALANCE PER BOOKS | $ | - | $ | - | $ | 33,749.10 | $ | 33,749.10 | ||||||||
| 6. NUMBER OF LAST CHECK WRITTEN | 1013 | 1007 | ||||||||||||||
INVESTMENT ACCOUNTS
| DATE OF | TYPE OF | PURCHASE | CURRENT | |||||||||||||
| BANK, ACCOUNT NAME & NUMBER | PURCHASE | INSTRUMENT | PRICE | VALUE | ||||||||||||
| 7. | ||||||||||||||||
| 8. | ||||||||||||||||
| 9. | ||||||||||||||||
| 10. | ||||||||||||||||
| 11. TOTAL INVESTMENTS | $ | - | $ | - | ||||||||||||
| CASH | ||||||||||||||||
| 12. CURRENCY ON HAND | $ | - | ||||||||||||||
| 13. TOTAL CASH - END OF MONTH | $ | 33,749.10 | ||||||||||||||
Monthly Operating Report
CASH BASIS-3
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
ASSETS OF THE ESTATE
| SCHEDULE "A" | SCHEDULE | MONTH | MONTH | MONTH | ||||||||||||
| REAL PROPERTY | AMOUNT | May 31,2015 | June 30,2015 | July 31,2015 | ||||||||||||
| 1. 204 Woodhew Dr. Waco, TX 76712 | $ | 1,079,495.09 | $ | 1,079,495.09 | $ | 1,079,495.09 | $ | 1,079,495.09 | ||||||||
| 2. 8225 Central Park Dr. Waco, TX 76712 | $ | 1,109,143.75 | $ | 1,109,143.75 | $ | 1,109,143.75 | $ | 1,109,143.75 | ||||||||
| 3. | ||||||||||||||||
| 4. OTHER (ATTACH LIST) | ||||||||||||||||
| 5. TOTAL REAL PROPERTY ASSETS | $ | 2,188,638.84 | $ | 2,188,638.84 | $ | 2,188,638.84 | $ | 2,188,638.84 | ||||||||
| SCHEDULE "B" | ||||||||||||||||
| PERSONAL PROPERTY | ||||||||||||||||
| 1. CASH ON HAND | ||||||||||||||||
| 2. CHECKING, SAVINGS, ETC. | $ | 51,248.28 | $ | 21,359.90 | $ | 34,681.70 | $ | 33,749.10 | ||||||||
| 3. SECURITY DEPOSITS | ||||||||||||||||
| 4. HOUSEHOLD GOODS | ||||||||||||||||
| 5. BOOKS, PICTURES, ART | $ | 166,250.00 | $ | 166,250.00 | $ | 166,250.00 | $ | 166,250.00 | ||||||||
| 6. WEARING APPAREL | ||||||||||||||||
| 7. FURS AND JEWELRY | ||||||||||||||||
| 8. FIREARMS & SPORTS EQUIPMENT | ||||||||||||||||
| 9. INSURANCE POLICIES | ||||||||||||||||
| 10. ANNUITIES | ||||||||||||||||
| 11. EDUCATION | ||||||||||||||||
| 12. RETIREMENT & PROFIT SHARING | ||||||||||||||||
| 13. STOCKS | unknown | unknown | unknown | unknown | 3 | |||||||||||
| 14. PARTNERSHIPS & JOINT VENTURES | ||||||||||||||||
| 15. GOVERNMENT & CORPORATE BONDS | ||||||||||||||||
| 16. ACCOUNTS RECEIVABLE | $ | 76,415.22 | $ | 84,665.09 | $ | 84,665.09 | ||||||||||
| 17. ALIMONY | ||||||||||||||||
| 18. OTHER LIQUIDATED DEBTS | ||||||||||||||||
| 19. EQUITABLE INTERESTS | ||||||||||||||||
| 20. CONTINGENT INTERESTS | ||||||||||||||||
| 21. OTHER CLAIMS | ||||||||||||||||
| 22. PATENTS & COPYRIGHTS | ||||||||||||||||
| 23. LICENSES & FRANCHISES | ||||||||||||||||
| 24. CUSTOMER LISTS | ||||||||||||||||
| 25. AUTOS, TRUCKS & OTHER VEHICLES | ||||||||||||||||
| 26. BOATS & MOTORS | ||||||||||||||||
| 27. AIRCRAFT | ||||||||||||||||
| 28. OFFICE EQUIPMENT | ||||||||||||||||
| 29. MACHINERY, FIXTURES & EQUIPMENT | ||||||||||||||||
| 30. INVENTORY | ||||||||||||||||
| 31. ANIMALS | ||||||||||||||||
| 32. CROPS | ||||||||||||||||
| 33. FARMING EQUIPMENT | ||||||||||||||||
| 34. FARM SUPPLIES | ||||||||||||||||
| 35. OTHER (ATTACH LIST) | ||||||||||||||||
| 36. TOTAL PERSONAL PROPERTY ASSETS | $ | 293,913.50 | $ | 187,609.90 | $ | 285,596.79 | $ | 284,664.19 | ||||||||
| 37. TOTAL ASSETS | $ | 2,482,552.34 | $ | 2,376,248.74 | $ | 2,474,235.63 | $ | 2,473,303.03 | ||||||||
| 3 | Item 13. Stocks: Value of LPI not included since financials were historically consolidated for reporting. |
Monthly Operating Report
CASH BASIS-4
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | July |
LIABILITIES OF THE ESTATE
| PREPETITION | SCHEDULE | |||||||||||||||
| LIABILITIES | AMOUNT | PAYMENTS | ||||||||||||||
| 1. SECURED | $ | 267,504.86 | $ | 205,730.13 | 4 | |||||||||||
| 2. PRIORITY | $ | 3,991,351.00 | ||||||||||||||
| 3. UNSECURED | $ | 114,283,484.71 | ||||||||||||||
| 4. OTHER (ATTACH LIST) | ||||||||||||||||
| 5. TOTAL PREPETITION LIABILITIES | $ | 118,542,340.57 | $ | 205,730.13 | ||||||||||||
| POSTPETITION | DATE | AMOUNT | DUE | AMOUNT | ||||||||||||
| LIABILITIES | INCURRED | OWED | DATE | PAST DUE | ||||||||||||
| 1. FEDERAL INCOME TAXES | ||||||||||||||||
| 2. FICA/MEDICARE | ||||||||||||||||
| 3. STATE TAXES | ||||||||||||||||
| 4. REAL ESTATE TAXES | ||||||||||||||||
| 5. OTHER TAXES (ATTACH LIST) | ||||||||||||||||
| 6. TOTAL TAXES | $ | - | $ | - | ||||||||||||
| OTHER POSTPETITION LIABILITIES INCLUDING TRADE CREDITORS (LIST NAMES OF CREDITORS) 5 | ||||||||||||||||
| 7. Alexander Dubose Jefferson & Townsend LLP | $ | 21,197.17 | ||||||||||||||
| 8. American Express | $ | 212.00 | ||||||||||||||
| 9. Law Offices of Douglas M. Berman, PLLC | $ | 22,376.25 | ||||||||||||||
| 10. Kevin Buchanan & Associates, P.L.L.C. | $ | 140,235.46 | ||||||||||||||
| 11. Carrington, Coleman, Sloman & Blumenthal, L.L.P. | $ | 541.00 | ||||||||||||||
| 12. First Advantage Litigation Consulting | $ | 11,535.00 | ||||||||||||||
| 13. Forshey & Prostok, LLP - IOLTA | $ | 96,795.97 | ||||||||||||||
| 14. Horwood, Marcus & Berk | $ | 8,827.50 | ||||||||||||||
| 15. HSPG & Associates, PC | $ | 23,287.02 | ||||||||||||||
| 16. Hudson & Calleja, LLC | $ | 1,975.00 | ||||||||||||||
| 17. The Johnson Law Firm | $ | 6,881.90 | ||||||||||||||
| 18. Kyle Mathis & Lucas LLP | $ | 1,367.97 | ||||||||||||||
| 19. C. Alfred Mackenzie | $ | 4,792.50 | ||||||||||||||
| 20. Meadows Collier Attorneys at Law | $ | 16,766.47 | ||||||||||||||
| 21. Meyer, Unkovic & Scott LLP | $ | 2,691.14 | ||||||||||||||
| 22. Pronske Goolsby & Kathman, P.C. | $ | 28,617.68 | ||||||||||||||
| 23. Kathleen M. Rehling | $ | 281.30 | ||||||||||||||
| 24. Shackelford, Melton & McKinley | $ | 60.00 | ||||||||||||||
| 25. Shareholder.com | $ | 5,624.48 | ||||||||||||||
| 26. Smith, Jackson, Boyer & Bovard, PLLC | $ | 19,742.30 | ||||||||||||||
| 27. Squire Patton Boggs (US) LLP | $ | 4,936.22 | ||||||||||||||
| 28. West & Associates, L.L.P | $ | 10,165.00 | ||||||||||||||
| 29. Whitley Penn | $ | 61,354.63 | ||||||||||||||
| 29. (IF ADDITIONAL ATTACH LIST) | ||||||||||||||||
| 30. TOTAL OF LINES 7 - 29 | $ | 490,263.96 | $ | - | ||||||||||||
| 31. TOTAL POSTPETITION LIABILITIES | $ | 490,263.96 | $ | - | ||||||||||||
| 4 | Secured Prepetition Liability Payments were paid to AFCO on promissory note for D&O and E&O insurance as follows: |
| $ | 34,288.35 Payments by Life Partners Holdings, Inc. |
| $ | 171,441.78 Payments by Life Partners, Inc. on behalf of LPHI. |
| 5 | See Exhibit 2 for detail of Postpetition Liabilities. |
Monthly Operating Report
CASH BASIS-4A
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | July |
ACCOUNTS RECEIVABLE AGING
| SCHEDULE | MONTH | MONTH | ||||||||||||||
| AMOUNT | June 30,2015 | July31,2015 | MONTH | |||||||||||||
| 1. 0 - 30 | $ | 76,415.22 | $ | 84,665.09 | $ | 84,665.09 | ||||||||||
| 2. 31 - 60 | ||||||||||||||||
| 3. 61 - 90 | ||||||||||||||||
| 4. 91 + | ||||||||||||||||
| 5. TOTAL ACCOUNTS RECEIVABLE | $ | 76,415.22 | $ | 84,665.09 | $ | 84,665.09 | $ | - | ||||||||
| 6. AMOUNT CONSIDERED UNCOLLECTIBLE | ||||||||||||||||
| 7. ACCOUNTS RECEIVABLE (NET) | $ | 76,415.22 | $ | 84,665.09 | $ | 84,665.09 | $ | - | ||||||||
AGING OF POSTPETITION TAXES AND PAYABLES
| 0 - 30 | 31-60 | 90+ | ||||||||||||||
| TAXES PAYABLE | DAYS | DAYS | DAYS | Total | ||||||||||||
| 1. FEDERAL | $ | - | ||||||||||||||
| 2. STATE | $ | - | ||||||||||||||
| 3. LOCAL | $ | 32,774.93 | $ | 32,774.93 | ||||||||||||
| 4. OTHER (ATTACH LIST) | $ | - | ||||||||||||||
| 5. TOTAL TAXES PAYABLE | $ | 32,774.93 | $ | - | $ | - | $ | 32,774.93 | ||||||||
| 6. ACCOUNTS PAYABLE | $ | 10,813.40 | $ | 32,971.88 | $ | 446,478.68 | $ | 490,263.96 | 5 | |||||||
STATUS OF POSTPETITION TAXES
| BEGINNING | AMOUNT | ENDING | ||||||||||||||
| TAX | WITHHELD | AMOUNT | TAX | |||||||||||||
| FEDERAL | LIABILITY | OR ACCRUED | PAID | LIABILITY | ||||||||||||
| 1. WITHHOLDING | $ | - | ||||||||||||||
| 2. FICA-EMPLOYEE | $ | - | ||||||||||||||
| 3. FICA-EMPLOYER | $ | - | ||||||||||||||
| 4. UNEMPLOYMENT | $ | - | ||||||||||||||
| 5. INCOME | $ | - | ||||||||||||||
| 6. OTHER (ATTACH LIST) | $ | - | ||||||||||||||
| 7. TOTAL FEDERAL TAXES | $ | - | $ | - | $ | - | $ | - | ||||||||
| STATE AND LOCAL | $ | - | ||||||||||||||
| 8. WITHHOLDING | $ | - | ||||||||||||||
| 9. SALES | $ | - | ||||||||||||||
| 10. EXCISE | $ | - | ||||||||||||||
| 11. UNEMPLOYMENT | $ | - | ||||||||||||||
| 12. REAL PROPERTY | $ | 27,627.04 | $ | 5,147.89 | $ | 32,774.93 | 8 | |||||||||
| 13. PERSONAL PROPERTY | $ | - | ||||||||||||||
| 14. OTHER (ATTACH LIST) | $ | - | ||||||||||||||
| 15. TOTAL STATE & LOCAL | $ | 27,627.04 | $ | 5,147.89 | $ | - | $ | 32,774.93 | ||||||||
| 16. TOTAL TAXES | $ | 27,627.04 | $ | 5,147.89 | $ | - | $ | 32,774.93 | ||||||||
| 5 | See Exhibit 2 for detail of Postpetition Liabilities |
| 8 | Accruing for calendar 2015 taxes due at the end of the year. |
Monthly Operating Report
CASH BASIS-5
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | July |
| PAYMENTS TO INSIDERS AND PROFESSIONALS | ||||||||||||
| INSIDERS | ||||||||||||
| NAME | TYPE OF PAYMENT | AMOUNT PAID | TTL PD TO DATE | |||||||||
| 1. | ||||||||||||
| 2. | ||||||||||||
| 3. | ||||||||||||
| 4. | ||||||||||||
| 5. | ||||||||||||
| TOTAL PAYMENTS TO INSIDERS | $ | - | $ | - | ||||||||
| PROFESSIONALS 13 | ||||||||||||||||||
| DATE OF COURT ORDER | AMOUNT | AMOUNT | TTL PAID | TOTAL INCURRED | ||||||||||||||
| NAME | AUTHORIZING PAYMENT | APPROVED | PAID | TO DATE | & UNPAID | |||||||||||||
| 1. Asset Servicing Group | $ | 574,382.84 | ||||||||||||||||
| 2. Forshey & Prostok, LLP | 04/28/15 | $ | 154,409.11 | $ | 57,613.14 | $ | 96,795.97 | 6 | ||||||||||
| 3. Kevin Buchanan & Associates | 07/01/15 | $ | 140,235.46 | $ | 140,235.46 | |||||||||||||
| 4. Kim Hinkle, Attorney at Law | $ | 139,963.00 | ||||||||||||||||
| 5. MMS Advisors | $ | 147,000.00 | 12 | |||||||||||||||
| 6. Pronske Goolsby & Kathman, P.C. | 05/05/15 | $ | 128,617.68 | $ | 100,000.00 | $ | 28,617.68 | 6 | ||||||||||
| 7. Thompson & Knight LLP | $ | 3,637,500.00 | ||||||||||||||||
| 8. Tom Moran, US Trustee | $ | 290,900.00 | ||||||||||||||||
| 9. Munsch, Hardt, Kopf & Harr,P.C. | $ | 960,953.15 | ||||||||||||||||
| 10. Bridgepoint Consulting | $ | 122,816.30 | ||||||||||||||||
| 11. Epiq Bankruptcy Solutions | $ | 98,992.39 | $ | 123,992.39 | $ | 941,420.02 | 14 | |||||||||||
| 12. Phillips Murrah | $ | 128,431.00 | ||||||||||||||||
| TOTAL PAYMENTS TO PROFESSIONALS | $ | 423,262.25 | $ | 98,992.39 | $ | 281,605.53 | $ | 7,209,015.42 | ||||||||||
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
| SCHEDULED | AMOUNTS | TOTAL | ||||||||||
| MONTHLY | PAID | UNPAID | ||||||||||
| PAYMENTS | DURING | POST- | ||||||||||
| NAME OF CREDITOR | DUE | MONTH | PETITION | |||||||||
| 1. BankDirect Capital Finance | $ | 1,104.82 | $ | 1,104.82 | $ | 7,590.09 | ||||||
| 2. | ||||||||||||
| 3. | ||||||||||||
| 4. | ||||||||||||
| 5. | ||||||||||||
| 6. TOTAL | $ | 1,104.82 | $ | 1,104.82 | $ | 7,590.09 | ||||||
| 6 | The payments reflected here are retainers paid in prior months by Life Partners, Inc. |
| 12 | MMS Advisors incurred fees and expenses March 13th - May 18th in the estimated amount of $230,000.00 that are not included here since their retention has not been approved for this period of time. |
| 13 | Professional fees and expenses estimated and accrued prior to May 19th are reflected only on the books of Life Partners Holdings, Inc. Thereafter, professional fees and expenses reflect the estimated aggregate, unallocated fees and expenses for all of the Debtors, and are noted on each of the Debtors MORs. |
| 14 | Current month payments to Epiq Bankruptcy Solutions were made by Life Partners, Inc. Total paid to date to Epiq includes a $25,000 retainer paid 5/5/15 by LPI Financial Services, Inc. that was not previously reported. |
Monthly Operating Report
CASH BASIS-6
2015
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | July |
QUESTIONNAIRE
| YES | NO | |||||
| 1. | HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? | X | ||||
| 2. | HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? | X | ||||
| 3. | ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES OR LOANS) DUE FROM RELATED PARTIES? | X | ||||
| 4. | HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? | X | ||||
| 5. | HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? | X | ||||
| 6. | ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? | X | ||||
| 7. | ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? | X | ||||
| 8. | ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? | X | ||||
| 9. | ARE ANY OTHER POSTPETITION TAXES PAST DUE? | X | ||||
| 10. | ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? | X | ||||
| 11. | HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? | X | ||||
| 12. | ARE ANY WAGE PAYMENTS PAST DUE? | X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES"; PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
Questionnaire Item 4. Approval of Motion for relief from automatic stay to pay AFCO for D&O insurance at 2/9/15 Hearing; See Exhibit 1 showing monthly payment made by LPI.
Questionnaire Item 10. Past Due amounts are mainly professional fees incurred after the filing date. See Exhibit 2.
INSURANCE
| YES | NO | |||||
| 1. | ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? | X | ||||
| 2. | ARE ALL PREMIUM PAYMENTS PAID CURRENT? | X | ||||
| 3. | PLEASE ITEMIZE POLICIES BELOW | X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO" OR IF ANY POLICIES HAVE BEEN CANCELED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSTALLMENT PAYMENTS
| TYPE OF | PERIOD | PAYMENT AMOUNT | ||||||
| POLICY | CARRIER | COVERED | & FREQUENCY | |||||
| Directors & Officers | Illinois National | 09/01/14 - 08/31/15 | ||||||
| Errors & Omissions | Indian Habor | 09/01/14 - 08/31/15 | ||||||
| Total for Financed thru AFCO | $ | 34,288.35 /mo. | ||||||
| Commercial Package* | Allied | 06/14/14 - 06/13/15 | $ | 1,058.43 /mo. | 10 | |||
| Commercial Package* | Allied | 06/14/15 - 06/13/16 | $ | 1,073.07 /mo. | ||||
| Commercial Fine Arts | Travelers Lloyds Ins. | 06/14/15 - 06/14/16 | $ | 285.10 /mo. | ||||
| Cyber Liability | Beazley Insurance | 05/12/15 - 06/12/16 | $ | 1,104.82 /mo. | ||||
*includes auto, building, edp, excess liability
| 10 | This obligation has been paid in full. |
| Life Partners Holdings Inc | Exhibit 1 |
| Distributions made by Life Partners, Inc. for LPHI Obligations | |
| Period Ending 7/31/15 |
| Number | Date Paid | Vendor | Paid by | Amount Paid | Purpose | |||||||
| American Express | 6/3/2015 | Vintage Filings | LPI credit card | $ | 454.00 | File 8-K *** | ||||||
| wire | 7/1/2015 | AFCO | LPI wire | $ | 34,288.36 | Insurance Payment | ||||||
| Total Paid | $ | 34,742.36 | ||||||||||
*** These items were applied against LPI's credit balance with American Express. The date shown here is the date the expense was incurred
| Date: | |
| Time: User: | |
| Monday, August 17, 2015 | EXHIBIT 2 |
| 01:36PM BSTRIPLING |
DIP - LPHI
Period Sensitive Aged AP - Detail
Period: 05-16 As of: 7/31/2015
Page:
Report:
Company:
1 of 5
03681d.rpt
20
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days
Past Due 31 |
|||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | ||
| Company: | 20 | |||||||||||||||
| ALEX00 | Alexander Dubose Jefferson & T | A | ||||||||||||||
| 233293 | 6287 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 317.17 | 317.17 | |||||
| 233294 | 6288 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 12,100.00 | 12,100.00 | |||||
| 233295 | 6288 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 7,080.00 | 7,080.00 | |||||
| 234017 | 6291 | VO | A | 4/22/2015 | 4/22/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 13,140.00 | 13,140.00 | |||||
| 234028 | Rev6288 | AD | A | 4/24/2015 | 0.00 | 0.00 | 0.00 | 0.00 | -12,100.00 | -12,100.00 | ||||||
| 234029 | Rev6288 | AD | A | 4/24/2015 | 0.00 | 0.00 | 0.00 | 0.00 | -7,080.00 | -7,080.00 | ||||||
| 234030 | 6291 | VO | A | 4/24/2015 | 4/24/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 7,080.00 | 7,080.00 | |||||
| 234031 | 6353 | VO | A | 4/24/2015 | 4/24/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 660.00 | 660.00 | |||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 21,197.17 | 21,197.17 | ||||||||||
| AMER01 | American Express | |||||||||||||||
| 234831 | 6-81004xJul15 | VO | A | 7/28/2015 | 8/12/2015 | 8/5/2015 | 212.00 | 0.00 | 0.00 | 0.00 | 0.00 | 212.00 | ||||
| Vendor Total | 212.00 | 0.00 | 0.00 | 0.00 | 0.00 | 212.00 | ||||||||||
| BERM00 | Law Offices of Douglas M. Berm | A | ||||||||||||||
| 232202 | LP01-21-2015 | VO | A | 3/1/2015 | 3/1/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 4,712.50 | 4,712.50 | |||||
| 233297 | LP-02-2015 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 11,293.75 | 11,293.75 | |||||
| 233552 | LP-03-2015 | VO | A | 4/8/2015 | 4/8/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 6,370.00 | 6,370.00 | |||||
| 233556 | Retnr-LP-01-2 | AD | A | 4/8/2015 | 0.00 | 0.00 | 0.00 | 0.00 | -4,712.50 | -4,712.50 | ||||||
| 233558 | RetnrLP-02-20 | AD | A | 4/8/2015 | 0.00 | 0.00 | 0.00 | 0.00 | -656.25 | -656.25 | ||||||
| 234079 | RevRetrLP-01 | VO | A | 4/8/2015 | 4/8/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 4,712.50 | 4,712.50 | |||||
| 234080 | RetnrLP-02-20 | VO | A | 4/8/2015 | 4/8/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 656.25 | 656.25 | |||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 22,376.25 | 22,376.25 | ||||||||||
| BUCH00 | Kevin Buchanan | & Associates, P | A | |||||||||||||
| 232832 | 1355 | VO | A | 1/31/2015 | 1/31/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 26,947.75 | 26,947.75 | |||||
| 234659 | Rev1355 | AD | A | 1/31/2015 | 0.00 | 0.00 | 0.00 | 0.00 | -26,947.75 | -26,947.75 | ||||||
| 234660 | 1382 | VO | A | 5/11/2015 | 5/11/2015 | 0.00 | 0.00 | 0.00 | 31,949.00 | 0.00 | 31,949.00 | |||||
| 234661 | 1382 | VO | A | 5/11/2015 | 5/11/2015 | 0.00 | 0.00 | 0.00 | 105,546.96 | 0.00 | 105,546.96 | |||||
Date:
Time: User:
Monday, August 17, 2015
01:36PM BSTRIPLING
DIP - LPHI
Period Sensitive Aged AP - Detail
Period: 05-16 As of: 7/31/2015
Page:
Report:
Company:
2 of 5
03681d.rpt
20
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days
Past Due 31 |
||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | |
| 234662 | 1382 | VO | A | 5/11/2015 | 5/11/2015 | 0.00 | 0.00 | 0.00 | 7,459.00 | 0.00 | 7,459.00 | ||||
| 234663 | 1382-Doc561 | AD | A | 5/11/2015 | 0.00 | 0.00 | 0.00 | -4,719.50 | 0.00 | -4,719.50 | |||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 140,235.46 | 0.00 | 140,235.46 | |||||||||
| CARR06 | Carrington, Coleman, Sloman & | A | |||||||||||||
| 232849 | 317854 | VO | A | 2/13/2015 | 2/13/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 541.00 | 541.00 | ||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 541.00 | 541.00 | |||||||||
| FIRS08 | First Advantage Litigation Con | ||||||||||||||
| 233304 | 14602 | VO | A | 3/30/2015 | 3/30/2015 | 3/30/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 11,535.00 | 11,535.00 | |||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 11,535.00 | 11,535.00 | |||||||||
| FORS00 | Forshey & Prostok, LLP - IOLTA | A | |||||||||||||
| 233290 | 28681-Jan15 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 78,075.53 | 78,075.53 | ||||
| 233291 | 28681-Feb15 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 59,822.90 | 59,822.90 | ||||
| 233292 | 28681-Mar15 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 1,807.50 | 1,807.50 | ||||
| 234629 | Doc303-28681 | AD | A | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | -42,909.96 | -42,909.96 | |||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 96,795.97 | 96,795.97 | |||||||||
| HORW00 | Horwood, Marcus & Berk | A | |||||||||||||
| 233305 | 385452 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 105.00 | 105.00 | ||||
| 233935 | 387204 | VO | A | 4/22/2015 | 4/22/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 3,152.50 | 3,152.50 | ||||
| 234276 | 389426 | VO | A | 6/2/2015 | 6/2/2015 | 0.00 | 0.00 | 5,357.50 | 0.00 | 0.00 | 5,357.50 | ||||
| 234423 | 391018 | VO | A | 6/25/2015 | 6/25/2015 | 0.00 | 0.00 | 212.50 | 0.00 | 0.00 | 212.50 | ||||
| Vendor Total | 0.00 | 0.00 | 5,570.00 | 0.00 | 3,257.50 | 8,827.50 | |||||||||
| HSPG00 | HSPG & Associates, PC | A | |||||||||||||
| 232726 | 15-007 | VO | A | 2/7/2015 | 2/7/2015 | 2/7/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 3,786.75 | 3,786.75 | |||
| 233113 | 15-024 | VO | A | 3/6/2015 | 3/6/2015 | 3/6/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 18,699.57 | 18,699.57 | |||
| 233114 | 15-007 | AD | A | 2/7/2015 | 2/7/2015 | 0.00 | 0.00 | 0.00 | 0.00 | -3,786.75 | -3,786.75 | ||||
| 233869 | 15-041 | VO | A | 4/3/2015 | 4/3/2015 | 4/3/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 4,587.45 | 4,587.45 | |||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 23,287.02 | 23,287.02 | |||||||||
| HUDS00 | Hudson & Calleja, LLC | ||||||||||||||
| 233306 | 5537 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 1,685.00 | 1,685.00 | ||||
Date:
Time: User:
Monday, August 17, 2015
01:36PM BSTRIPLING
DIP - LPHI
Period Sensitive Aged AP - Detail
Period: 05-16 As of: 7/31/2015
Page:
Report:
Company:
3 of 5
03681d.rpt
20
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days
Past Due 31 |
||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | |
| 233307 | 5537 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 290.00 | 290.00 | ||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 1,975.00 | 1,975.00 | |||||||||
| JOHN14 | The Johnson Law Firm | A | |||||||||||||
| 233300 | 2 | VO | A | 3/4/2015 | 3/4/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 5,995.00 | 5,995.00 | ||||
| 233303 | 3 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 886.90 | 886.90 | ||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 6,881.90 | 6,881.90 | |||||||||
| KYLE00 | Kyle Mathis & Lucas LLP | A | |||||||||||||
| 233296 | 14104 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 492.66 | 492.66 | ||||
| 233299 | 14084 | VO | A | 3/4/2015 | 3/4/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 875.31 | 875.31 | ||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 1,367.97 | 1,367.97 | |||||||||
| MACK00 | C. Alfred Mackenzie | A | |||||||||||||
| 233115 | LPHI LegalMa | VO | A | 3/9/2015 | 3/9/2015 | 3/9/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 3,802.50 | 3,802.50 | |||
| 233116 | LPHI LegalMa | VO | A | 3/9/2015 | 3/9/2015 | 3/9/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 990.00 | 990.00 | |||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 4,792.50 | 4,792.50 | |||||||||
| MEAD01 | Meadows Collier Attorneys at L | A | |||||||||||||
| 233120 | 128856 | VO | A | 3/19/2015 | 3/19/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 10,101.19 | 10,101.19 | ||||
| 233553 | 129135 | VO | A | 4/8/2015 | 4/8/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 3,245.28 | 3,245.28 | ||||
| 234223 | 129492 | VO | A | 5/19/2015 | 5/19/2015 | 0.00 | 0.00 | 0.00 | 1,995.00 | 0.00 | 1,995.00 | ||||
| 234654 | 130671 | VO | A | 7/13/2015 | 7/13/2015 | 0.00 | 741.00 | 0.00 | 0.00 | 0.00 | 741.00 | ||||
| 234848 | 131169 | VO | A | 8/11/2015 | 8/11/2015 | 684.00 | 0.00 | 0.00 | 0.00 | 0.00 | 684.00 | ||||
| Vendor Total | 684.00 | 741.00 | 0.00 | 1,995.00 | 13,346.47 | 16,766.47 | |||||||||
| MEYE00 | Meyer, Unkovic & Scott LLP | A | |||||||||||||
| 231927 | 1223264 | VO | A | 3/7/2015 | 3/7/2015 | 3/7/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 257.50 | 257.50 | |||
| 233298 | 1224475 | VO | A | 4/16/2015 | 4/16/2015 | 4/16/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 2,433.64 | 2,433.64 | |||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 2,691.14 | 2,691.14 | |||||||||
| PRON00 | Pronske, Goolsby & Kathman, PC | A | |||||||||||||
| 234645 | Statement 201 | VO | A | 7/9/2015 | 7/9/2015 | 0.00 | 108,615.83 | 0.00 | 0.00 | 0.00 | 108,615.83 | ||||
| 234646 | Statement 202 | VO | A | 7/9/2015 | 7/9/2015 | 0.00 | 18,001.85 | 0.00 | 0.00 | 0.00 | 18,001.85 | ||||
Date:
Time: User:
Monday, August 17, 2015
01:36PM BSTRIPLING
DIP - LPHI
Period Sensitive Aged AP - Detail
Period: 05-16 As of: 7/31/2015
Page:
Report:
Company:
4 of 5
03681d.rpt
20
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days
Past Due 31 |
||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | |
| 234647 | FeeApplicatio | VO | A | 7/9/2015 | 7/9/2015 | 0.00 | 2,000.00 | 0.00 | 0.00 | 0.00 | 2,000.00 | ||||
| 234649 | ApplyRetnr | AD | A | 7/10/2015 | 0.00 | -100,000.00 | 0.00 | 0.00 | 0.00 | -100,000.00 | |||||
| Vendor Total | 0.00 | 28,617.68 | 0.00 | 0.00 | 0.00 | 28,617.68 | |||||||||
| REHL00 | Kathleen M. Rehling | A | |||||||||||||
| 234847 | 5865 | VO | A | 8/11/2015 | 8/11/2015 | 281.30 | 0.00 | 0.00 | 0.00 | 0.00 | 281.30 | ||||
| Vendor Total | 281.30 | 0.00 | 0.00 | 0.00 | 0.00 | 281.30 | |||||||||
| SHAC00 | Shackelford, Melton & McKinley | A | |||||||||||||
| 233118 | 174733 | VO | A | 4/09/2015 | 4/09/2015 | 4/09/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 60.00 | 60.00 | |||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 60.00 | 60.00 | |||||||||
| SHAR03 | Shareholder.com | A | |||||||||||||
| 232029 | 0115SHAR16 | VO | A | 2/27/2015 | 2/27/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 4,388.33 | 4,388.33 | ||||
| 234077 | 0115shar1619 | AD | A | 2/27/2015 | 0.00 | 0.00 | 0.00 | 0.00 | -4,388.33 | -4,388.33 | |||||
| 234496 | 0415SHAR22 | VO | A | 5/17/2015 | 5/17/2015 | 0.00 | 0.00 | 0.00 | 5,624.48 | 0.00 | 5,624.48 | ||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 5,624.48 | 0.00 | 5,624.48 | |||||||||
| SMIT04 | Smith, Jackson, Boyer & Bovard | A | |||||||||||||
| 234424 | 56906 | VO | A | 6/25/2015 | 6/25/2015 | 0.00 | 0.00 | 6,493.00 | 0.00 | 0.00 | 6,493.00 | ||||
| 234655 | 57203 | VO | A | 7/13/2015 | 7/13/2015 | 0.00 | 3,613.20 | 0.00 | 0.00 | 0.00 | 3,613.20 | ||||
| 234846 | 57550 | VO | A | 8/11/2015 | 8/11/2015 | 9,636.10 | 0.00 | 0.00 | 0.00 | 0.00 | 9,636.10 | ||||
| Vendor Total | 9,636.10 | 3,613.20 | 6,493.00 | 0.00 | 0.00 | 19,742.30 | |||||||||
| SQUI01 | Squire Patton Boggs (US) LLP | A | |||||||||||||
| 233301 | 10426961 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 2,912.22 | 2,912.22 | ||||
| 233302 | 10426961 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 2,024.00 | 2,024.00 | ||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 4,936.22 | 4,936.22 | |||||||||
| WEST12 | West & Associates, L.L.P | A | |||||||||||||
| 232850 | 15249 | VO | A | 2/17/2015 | 2/17/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 6,927.50 | 6,927.50 | ||||
| 232851 | 15249-ApplyR | AD | A | 2/17/2015 | 0.00 | 0.00 | 0.00 | 0.00 | -4,750.77 | -4,750.77 | |||||
| 233310 | 15301 | VO | A | 3/24/2015 | 3/24/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 3,237.50 | 3,237.50 | ||||
| 234078 | 15249RevRet | VO | A | 2/17/2015 | 2/17/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 4,750.77 | 4,750.77 | ||||
Date:
Time: User:
Monday, August 17, 2015
01:36PM BSTRIPLING
DIP - LPHI
Period Sensitive Aged AP - Detail
Period: 05-16 As of: 7/31/2015
Page:
Report:
Company:
5 of 5
03681d.rpt
20
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days
Past Due 31 |
||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | |
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 10,165.00 | 10,165.00 | |||||||||
| WHIT03 | Whitley Penn | ||||||||||||||
| 232727 | 226512 | VO | A | 2/9/2015 | 2/9/2015 | 2/9/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 1,007.00 | 1,007.00 | |||
| 232728 | 227700 | VO | A | 2/18/2015 | 2/18/2015 | 2/18/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 2,442.13 | 2,442.13 | |||
| 233119 | 228161 | VO | A | 3/9/2015 | 3/9/2015 | 3/9/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 50,888.00 | 50,888.00 | |||
| 233121 | 228588 | VO | A | 3/16/2015 | 3/16/2015 | 3/16/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 1,900.00 | 1,900.00 | |||
| 234059 | 232198 | VO | A | 4/23/2015 | 4/23/2015 | 4/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 5,100.00 | 5,100.00 | |||
| 234115 | Finance Chg | VO | A | 4/23/2015 | 4/23/2015 | 4/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 17.50 | 17.50 | |||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 61,354.63 | 61,354.63 | |||||||||
| Company Total | 10,813.40 | 32,971.88 | 12,063.00 | 147,854.94 | 286,560.74 | 490,263.96 | |||||||||
|
Life Partners Holdings, Inc. |
Exhibit 3 |
| List of Other Receipts and Disbursements |
| Apr 30,2015 | May 31,2015 | June 30,2015 | July 31,2015 | |||||||||||||
| Amount | Amount | Amount | Amount | |||||||||||||
| Receipts from: | ||||||||||||||||
| Interest Earned | ||||||||||||||||
| Funds transferred from LPI Acct in error** | $ | 61,398.28 | ||||||||||||||
| Total Other Receipts | $ | - | $ | 61,398.28 | $ | - | $ | - | ||||||||
| Disbursements In Payment of: | ||||||||||||||||
| Outside Services | $ | 17,267.05 | ||||||||||||||
| Temporary Security Services | $ | 5,378.67 | ||||||||||||||
| Business Wire Fees | $ | 3,950.00 | ||||||||||||||
| Registrar & Transfer Fees | $ | 5,300.00 | $ | 1,050.00 | ||||||||||||
| Filing Fees | $ | 738.00 | $ | 161.00 | ||||||||||||
| Web Page Hosting | $ | 3,749.65 | ||||||||||||||
| Logo/Trademark Renewal | $ | 400.00 | ||||||||||||||
| Title Letters for buildings | $ | 324.76 | ||||||||||||||
| Domain Renewal | $ | 123.95 | ||||||||||||||
| Bank Acct Analysis Fee | $ | 29.22 | $ | 27.96 | $ | 274.56 | $ | 218.66 | ||||||||
| Other Bank Charges | $ | 6.00 | ||||||||||||||
| Return Funds to LPI wired in error** | $ | 61,398.28 | ||||||||||||||
| Total Other Disbursements | $ | 28,211.65 | $ | 61,587.24 | $ | 5,580.56 | $ | 5,018.31 | ||||||||
| Disbursements for Reorganization Expenses: | ||||||||||||||||
| Transcription Services | $ | 1,488.30 | ||||||||||||||
| Total Other Reorganization Expenses | $ | - | $ | - | $ | - | $ | 1,488.30 | ||||||||
** These are related transactions. Funds being transferred from LPI's Bank of America account 0952 to their Bank of Texas account were incorrectly wired to LPHI's account.
Exhibit 99.11
Monthly Operating Report
CASH BASIS
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-41995 |
| JUDGE: | Russell Nelms |
UNITED STATES BANKRUPTCY COURT
NORTHERN & EASTERN DISTRICTS OF TEXAS
REGION 6
MONTHLY OPERATING REPORT
| MONTH ENDING: | July | 2015 | |||
| MONTH | YEAR |
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (CASH BASIS-1 THROUGH CASH BASIS-6) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT, AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
| RESPONSIBLE PARTY: | ||
| /s/ H. Thomas Moran II | Trustee | |
| ORIGINAL SIGNATURE OF RESPONSIBLE PARTY | TITLE | |
| H. Thomas Moran II | 8/20/2015 | |
| PRINTED NAME OF RESPONSIBLE PARTY | DATE | |
| PREPARER: | ||
| /s/ Colette Pieper | CEO | |
| ORIGINAL SIGNATURE OF PREPARER | TITLE | |
| Colette Pieper | 8/20/2015 | |
| PRINTED NAME OF PREPARER | DATE |
Monthly Operating Report
CASH BASIS-1
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-41995 |
| CASH RECEIPTS AND | May 19, 2015 to | MONTH | ||||||||||||||
| DISBURSEMENTS | June 30, 2015 | July 31,2015 | MONTH | MONTH | ||||||||||||
| 1. CASH - BEGINNING OF MONTH | $ | 397,375.68 | $ | 265,232.11 | ||||||||||||
| RECEIPTS | ||||||||||||||||
| 2. CASH SALES | ||||||||||||||||
| 3. ACCOUNTS RECEIVABLE COLLECTIONS | $ | 2,868.22 | $ | 36.94 | ||||||||||||
| 4. LOANS AND ADVANCES | ||||||||||||||||
| 5. SALE OF ASSETS | ||||||||||||||||
| 6. LEASE & RENTAL INCOME | ||||||||||||||||
| 7. WAGES | ||||||||||||||||
| 8. OTHER (ATTACH LIST) | $ | 655,093.16 | $ | 815,867.91 | 9 | |||||||||||
| 9. TOTAL RECEIPTS | $ | 657,961.38 | $ | 815,904.85 | ||||||||||||
| DISBURSEMENTS | ||||||||||||||||
| 10. NET PAYROLL | $ | 704.01 | $ | 170,683.08 | ||||||||||||
| 11. PAYROLL TAXES PAID | $ | 35,120.80 | $ | 59,905.30 | ||||||||||||
| 12. SALES,USE & OTHER TAXES PAID | $ | 2,300.00 | ||||||||||||||
| 13. INVENTORY PURCHASES | ||||||||||||||||
| 14. MORTAGE PAYMENTS | ||||||||||||||||
| 15. OTHER SECURED NOTE PAYMENTS | ||||||||||||||||
| 16. RENTAL & LEASE PAYMENTS | $ | 14,623.13 | $ | 18,361.85 | ||||||||||||
| 17. UTILITIES | $ | 13,980.31 | $ | 26,063.37 | ||||||||||||
| 18. INSURANCE | $ | 86,545.94 | $ | 67,418.18 | 1 | |||||||||||
| 19. VEHICLE EXPENSES | ||||||||||||||||
| 20. TRAVEL | $ | 1,795.53 | $ | 1,657.87 | ||||||||||||
| 21. ENTERTAINMENT | ||||||||||||||||
| 22. REPAIRS & MAINTENANCE | $ | 6,746.38 | $ | 2,899.74 | ||||||||||||
| 23. SUPPLIES | $ | 829.51 | $ | 1,565.05 | ||||||||||||
| 24. ADVERTISING | ||||||||||||||||
| 25. HOUSEHOLD EXPENSES | ||||||||||||||||
| 26. CHARITABLE CONTRIBUTIONS | ||||||||||||||||
| 27. GIFTS | ||||||||||||||||
| 28. OTHER (ATTACH LIST) | $ | 627,459.34 | $ | 481,647.18 | 9 | |||||||||||
| 29. TOTAL ORDINARY DISBURSEMENTS | $ | 790,104.95 | $ | 830,201.62 | ||||||||||||
| REORGANIZATION EXPENSES | ||||||||||||||||
| 30. PROFESSIONAL FEES | $ | 98,992.39 | ||||||||||||||
| 31. U.S. TRUSTEE FEES | $ | 325.00 | ||||||||||||||
| 32. OTHER (ATTACH LIST) | ||||||||||||||||
| 33. TOTAL REORGANIZATION EXPENSES | $ | - | $ | 99,317.39 | ||||||||||||
| 34. TOTAL DISBURSEMENTS | $ | 790,104.95 | $ | 929,519.01 | ||||||||||||
| 35. NET CASH FLOW | $ | (132,143.57 | ) | $ | (113,614.16 | ) | ||||||||||
| 36. CASH - END OF MONTH | $ | 265,232.11 | $ | 151,617.95 | ||||||||||||
| 1 | See Exhibit 1 for disbursements by LPI, Inc. on behalf of LPHI |
| 9 | See Exhibit 5 for attached list of Item 8. Other receipts and Item 28. Other disbursements. |
Monthly Operating Report
CASH BASIS-1A
2015
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-41995 |
| CASH DISBURSEMENTS DETAIL | MONTH: | July |
CASH DISBURSEMENTS
| DATE | PAYEE | PURPOSE | AMOUNT | |||||||||
| TOTAL CASH DISBURSEMENTS | $ | - | ||||||||||
BANK ACCOUNT DISBURSEMENTS
| CK# | DATE | PAYEE | PURPOSE | AMOUNT | ||||||||
| SEE EXHIBIT 1 | $ | 929,519.01 | ||||||||||
| TOTAL BANK ACCOUNT DISBURSEMENTS | $ | 929,519.01 | ||||||||||
| TOTAL DISBURSEMENTS FOR THE MONTH | $ | 929,519.01 | ||||||||||
Monthly Operating Report
CASH BASIS-2
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-41995 |
| BANK RECONCILIATIONS | ||||||||||||||||
| Acct #1 | Acct #2 | |||||||||||||||
| A. BANK: | Bank of Texas | Bank of Texas | ||||||||||||||
| B. ACCOUNT NUMBER: | 4080 | 4091 | ||||||||||||||
| C. PURPOSE (TYPE): | Checking | Checking | Acct #3 | TOTAL | ||||||||||||
| 1. BALANCE PER BANK STATEMENT | $ | 87,567.35 | $ | 309.24 | $ | 87,876.59 | ||||||||||
| 2. ADD: TOTAL DEPOSITS NOT CREDITED | $ | - | ||||||||||||||
| 3. SUBTRACT: OUTSTANDING CHECKS | $ | 38,842.29 | $ | 38,842.29 | ||||||||||||
| 4. OTHER RECONCILING ITEMS | $ | - | ||||||||||||||
| 5. MONTH END BALANCE PER BOOKS | $ | 48,725.06 | $ | 309.24 | $ | - | $ | 49,034.30 | ||||||||
| 6. NUMBER OF LAST CHECK WRITTEN | 1152 | 1010 | ||||||||||||||
| INVESTMENT ACCOUNTS | ||||||||
| DATE OF | TYPE OF | CURRENT | ||||||
| BANK, ACCOUNT NAME & NUMBER | PURCHASE | INSTRUMENT | VALUE | |||||
| 7. TD Bank, Life Partners, Inc. Acct 70-T202-01-2 | unknown | MoneyMarket | $ | 101,583.65 | ||||
| 8. | ||||||||
| 9. | ||||||||
| 10. | ||||||||
| 11. TOTAL INVESTMENTS | $ | 101,583.65 | ||||||
| CASH | ||||||||
| 12. CURRENCY ON HAND | $ | 1,000.00 | ||||||
| 13. TOTAL CASH - END OF MONTH | $ | 151,617.95 | ||||||
Monthly Operating Report
CASH BASIS-3
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-41995 |
ASSETS OF THE ESTATE
| SCHEDULE "A" | SCHEDULE | MONTH | MONTH | |||||||||||||
| REAL PROPERTY | AMOUNT | June 30,2015 | July 31,2015 | MONTH | ||||||||||||
| 1. NONE | ||||||||||||||||
| 2. | ||||||||||||||||
| 3. | ||||||||||||||||
| 4. OTHER (ATTACH LIST) | ||||||||||||||||
| 5. TOTAL REAL PROPERTY ASSETS | $ | - | $ | - | $ | - | $ | - | ||||||||
| SCHEDULE "B" | ||||||||||||||||
| PERSONAL PROPERTY | ||||||||||||||||
| 1. CASH ON HAND | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||||||
| 2. CHECKING, SAVINGS, ETC. | $ | 396,375.68 | $ | 264,232.11 | $ | 150,617.95 | ||||||||||
| 3. SECURITY DEPOSITS | $ | 200,000.00 | $ | 854.77 | $ | 10,212.32 | ||||||||||
| 4. HOUSEHOLD GOODS | ||||||||||||||||
| 5. BOOKS, PICTURES, ART | $ | 662,950.00 | $ | 662,950.00 | $ | 662,950.00 | ||||||||||
| 6. WEARING APPAREL | ||||||||||||||||
| 7. FURS AND JEWELRY | ||||||||||||||||
| 8. FIREARMS & SPORTS EQUIPMENT | ||||||||||||||||
| 9. INSURANCE POLICIES | unknown | unknown | unknown | |||||||||||||
| 10. ANNUITIES | ||||||||||||||||
| 11. EDUCATION | ||||||||||||||||
| 12. RETIREMENT & PROFIT SHARING | ||||||||||||||||
| 13. STOCKS | unknown | unknown | unknown | 2 | ||||||||||||
| 14. PARTNERSHIPS & JOINT VENTURES | $ | - | $ | - | ||||||||||||
| 15. GOVERNMENT & CORPORATE BONDS | ||||||||||||||||
| 16. ACCOUNTS RECEIVABLE | $ | 74,313,955.94 | $ | 74,348,480.30 | $ | 74,383,222.66 | ||||||||||
| 17. ALIMONY | ||||||||||||||||
| 18. OTHER LIQUIDATED DEBTS | $ | 13,667,960.11 | $ | 13,797,605.80 | $ | 14,130,402.29 | ||||||||||
| 19. EQUITABLE INTERESTS | ||||||||||||||||
| 20. CONTINGENT INTERESTS | ||||||||||||||||
| 21. OTHER CLAIMS | unknown | unknown | unknown | |||||||||||||
| 22. PATENTS & COPYRIGHTS | unknown | unknown | unknown | |||||||||||||
| 23. LICENSES & FRANCHISES | unknown | unknown | unknown | |||||||||||||
| 24. CUSTOMER LISTS | unknown | unknown | unknown | |||||||||||||
| 25. AUTOS, TRUCKS & OTHER VEHICLES | $ | 4,131.00 | $ | 4,131.00 | $ | 4,131.00 | ||||||||||
| 26. BOATS & MOTORS | ||||||||||||||||
| 27. AIRCRAFT | $ | 183,244.61 | $ | 183,244.61 | $ | 180,150.74 | ||||||||||
| 28. OFFICE EQUIPMENT | unknown | unknown | unknown | |||||||||||||
| 29. MACHINERY, FIXTURES & EQUIPMENT | $ | 112,295.93 | $ | 112,295.93 | $ | 90,070.39 | ||||||||||
| 30. INVENTORY | ||||||||||||||||
| 31. ANIMALS | ||||||||||||||||
| 32. CROPS | ||||||||||||||||
| 33. FARMING EQUIPMENT | ||||||||||||||||
| 34. FARM SUPPLIES | ||||||||||||||||
| 35. OTHER (ATTACH LIST) | $ | 143,386.74 | $ | 131,827.25 | $ | 112,945.22 | 3 | |||||||||
| 36. TOTAL PERSONAL PROPERTY ASSETS | $ | 89,685,300.01 | $ | 89,506,621.77 | $ | 89,725,702.57 | $ | - | ||||||||
| 37. TOTAL ASSETS | $ | 89,685,300.01 | $ | 89,506,621.77 | $ | 89,725,702.57 | $ | - | ||||||||
| 2 | Item 13. Stocks: Value of LPI Financial Services not included since financials were historically consolidated for reporting. |
| 3 | Item 35. Other: See Exhibit 2 for list. |
Monthly Operating Report
CASH BASIS-4
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-41995 |
| MONTH: | July |
LIABILITIES OF THE ESTATE
| PREPETITION | SCHEDULE | |||||||
| LIABILITIES | AMOUNT | PAYMENTS | ||||||
| 1. SECURED | unknown | |||||||
| 2. PRIORITY | unknown | |||||||
| 3. UNSECURED | $ | 9,203,449.82 | $ | 7,922.44 | 6 & 7 | |||
| 4. OTHER (ATTACH LIST) | ||||||||
| 5. TOTAL PREPETITION LIABILITIES | $ | 9,203,449.82 | $ | 7,922.44 | ||||
| POSTPETITION | DATE | AMOUNT | DUE | AMOUNT | ||||||||||||
| LIABILITIES | INCURRED | OWED | DATE | PAST DUE | ||||||||||||
| 1. FEDERAL INCOME TAXES | ||||||||||||||||
| 2. FICA/MEDICARE | ||||||||||||||||
| 3. STATE TAXES | ||||||||||||||||
| 4. REAL ESTATE TAXES | ||||||||||||||||
| 5. OTHER TAXES (ATTACH LIST) | ||||||||||||||||
| 6. TOTAL TAXES | $ | - | $ | - | ||||||||||||
| OTHER POSTPETITION LIABILITIES INCLUDING TRADE CREDITORS (LIST NAMES OF CREDITORS) | 4 | |||||||||||||||
| 7. Allison Enterprises, Inc. | $ | 181.05 | ||||||||||||||
| 8. Ambold's | $ | 72.52 | ||||||||||||||
| 9. American Express | $ | 4,435.17 | ||||||||||||||
| 10. Atmos Energy | $ | 46.84 | ||||||||||||||
| 11. AT&T | $ | 2,033.14 | ||||||||||||||
| 12. AT&T | $ | 107.97 | ||||||||||||||
| 13. AT&T Mobility | $ | 697.06 | ||||||||||||||
| 14. Kristen Bickham | $ | 254.25 | ||||||||||||||
| 15. Bridgepoint Consulting | $ | 70,391.90 | ||||||||||||||
| 16. Colette Pieper | $ | 231.51 | ||||||||||||||
| 17. Dell Marketing LP | $ | 3,067.75 | ||||||||||||||
| 18. EPIQ Bankruptcy Solutions | $ | 384,316.57 | ||||||||||||||
| 19. Insight Direct USA | $ | 946.11 | ||||||||||||||
| 20. Johnnies Office Systems, Inc. | $ | 83.28 | ||||||||||||||
| 21. Lexis Nexis | $ | 15.99 | ||||||||||||||
| 22. City of McGregor | $ | 60.14 | ||||||||||||||
| 23. Pitney Bowes Inc. | $ | 491.52 | ||||||||||||||
| 24. Professional Building Maintenance Service | $ | 1,623.75 | ||||||||||||||
| 25. Puerta Grande Investment Management | $ | 4,500.00 | ||||||||||||||
| 26. Rabroker | $ | 280.37 | ||||||||||||||
| 27. TALX Corporation | $ | 767.52 | ||||||||||||||
| 28. Texas Mutual Insurance Company | $ | 585.00 | ||||||||||||||
| 29. Thomson Reuters | $ | 906.10 | ||||||||||||||
| 29. Frontline eSolutions, LLC | $ | 18.95 | ||||||||||||||
| 29. Thomson Reuters | $ | 1,791.21 | ||||||||||||||
| 29. (IF ADDITIONAL ATTACH LIST) | ||||||||||||||||
| 30. TOTAL OF LINES 7 - 29 | $ | 477,905.67 | $ | - | ||||||||||||
| 31. TOTAL POSTPETITION LIABILITIES | $ | 477,905.67 | $ | - | ||||||||||||
| 4 | See Exhibit 3 for detail of Postpetition Liabilities |
| 6 | Does not include checks written pre-petition that cleared the bank post-petition (See Exhibit 1 for detail) because these these amounts were not included in Schedule F. |
| 7 | Payment of pre-petition utilities authorized by court Dkt. No. 483 (See Exhibit 1 for detail) & payment of employee insurance (Dkt. No. 501) |
Monthly Operating Report
CASH BASIS-4A
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-41995 |
| MONTH: | July |
ACCOUNTS RECEIVABLE AGING
| SCHEDULE | MONTH | MONTH | ||||||||||||||
| AMOUNT | June 30,2015 | July 31,2015 | MONTH | |||||||||||||
| 1. 0 - 30 | $ | 139,889.99 | $ | 155,881.10 | $ | 332,513.91 | ||||||||||
| 2. 31 - 60 | $ | 279,914.48 | $ | 44,626.95 | $ | 160,125.77 | ||||||||||
| 3. 61 - 90 | $ | 77,761.72 | $ | 127,549.60 | $ | 44,626.95 | ||||||||||
| 4. 91 + | $ | 12,721,786.70 | $ | 13,021,052.05 | $ | 13,145,170.51 | ||||||||||
| 5. TOTAL ACCOUNTS RECEIVABLE | $ | 13,219,352.89 | $ | 13,349,109.70 | $ | 13,682,437.14 | $ | - | ||||||||
| 6. AMOUNT CONSIDERED UNCOLLECTIBLE | $ | 5,163,789.81 | $ | 5,163,789.81 | $ | 5,476,845.49 | ||||||||||
| 7. ACCOUNTS RECEIVABLE (NET) | $ | 8,055,563.08 | $ | 8,185,319.89 | $ | 8,205,591.65 | $ | - | ||||||||
Note: Uncollectible amounts reflect an accounting reserve, however, may remain collectible.
| AGING OF POSTPETITION TAXES AND PAYABLES | 0 - 30 | 31-60 | 90+ | |||||||||||||
| TAXES PAYABLE | DAYS | DAYS | DAYS | Total | ||||||||||||
| 1. FEDERAL | $ | - | ||||||||||||||
| 2. STATE | $ | - | ||||||||||||||
| 3. LOCAL | $ | 4,476.53 | $ | 4,476.53 | ||||||||||||
| 4. OTHER (ATTACH LIST) | $ | - | ||||||||||||||
| 5. TOTAL TAXES PAYABLE | $ | 4,476.53 | $ | - | $ | - | $ | 4,476.53 | ||||||||
| 6. ACCOUNTS PAYABLE | $ | 91,351.63 | $ | 385,606.30 | $ | 947.74 | $ | 477,905.67 | ||||||||
| STATUS OF POSTPETITION TAXES | ||||||||||||||||
| BEGINNING | AMOUNT | ENDING | ||||||||||||||
| TAX | WITHHELD | AMOUNT | TAX | |||||||||||||
| FEDERAL | LIABILITY | OR ACCRUED | PAID | LIABILITY | ||||||||||||
| 1. WITHHOLDING | $ | 25,421.74 | $ | 25,421.74 | $ | - | ||||||||||
| 2. FICA-EMPLOYEE | $ | 17,098.98 | $ | 17,098.98 | $ | - | ||||||||||
| 3. FICA-EMPLOYER | $ | 17,098.98 | $ | 17,098.98 | $ | - | ||||||||||
| 4. UNEMPLOYMENT | $ | 18.26 | $ | 18.26 | $ | - | ||||||||||
| 5. INCOME | $ | - | ||||||||||||||
| 6. OTHER (ATTACH LIST) | $ | - | ||||||||||||||
| 7. TOTAL FEDERAL TAXES | $ | - | $ | 59,637.96 | $ | 59,637.96 | $ | - | ||||||||
| STATE AND LOCAL | $ | - | ||||||||||||||
| 8. WITHHOLDING | $ | - | ||||||||||||||
| 9. SALES | $ | - | ||||||||||||||
| 10. EXCISE | $ | - | ||||||||||||||
| 11. UNEMPLOYMENT | $ | 267.34 | $ | 267.34 | $ | - | ||||||||||
| 12. REAL PROPERTY | $ | - | ||||||||||||||
| 13. PERSONAL PROPERTY | $ | 2,626.23 | $ | 1,850.30 | $ | 4,476.53 | 9 | |||||||||
| 14. OTHER (ATTACH LIST) | $ | - | 8 | |||||||||||||
| 15. TOTAL STATE & LOCAL | $ | 2,626.23 | $ | 2,117.64 | $ | 267.34 | $ | 4,476.53 | ||||||||
| 16. TOTAL TAXES | $ | 2,626.23 | $ | 61,755.60 | $ | 59,905.30 | $ | 4,476.53 | ||||||||
| 8 | See Exhibit 4 attached. |
| 9 | Accruing for calendar year 2015 property taxes due 1/31/2016. |
Monthly Operating Report
CASH BASIS-5
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-41995 |
| MONTH: | July |
PAYMENTS TO INSIDERS AND PROFESSIONALS
| INSIDERS | ||||||||||
| NAME | TYPE OF PAYMENT | AMOUNT PAID | TTL PD TO DATE | |||||||
| 1. Mark Embry | Salaries/Expense Reimbursement | $ | 20,456.14 | $ | 20,583.17 | |||||
| 2. Advance Trust & Life Es | Premium Remittance/Cost Reimb | $ | 28,836.77 | $ | 69,566.17 | 5 | ||||
| 3. Life Partners Holdings, Inc. | Rent & Return deposit in error | $ | 10,000.00 | $ | 81,398.28 | 5 | ||||
| 4. LPI Financial Services, Inc. | Forward Platform Fees | $ | - | $ | 1,938.00 | |||||
| 5. Purchase Escrow Services, LLC | Premium Remittance/Cost Reimb | $ | 400,265.60 | $ | 894,692.98 | 5 | ||||
| 6. Colette Pieper | Salaries/Expense Reimbursement | $ | 20,942.31 | $ | 20,942.31 | |||||
| 7. Debora J. Carr | Salaries/Expense Reimbursement | $ | 5,625.00 | $ | 5,625.00 | |||||
| TOTAL PAYMENTS TO INSIDERS | $ | 486,125.82 | $ | 1,094,745.91 | ||||||
| PROFESSIONALS | 11 | |||||||||||||||||||
| DATE OF COURT ORDER | AMOUNT | AMOUNT | TTL PAID | TOTAL INCURRED | ||||||||||||||||
| NAME | AUTHORIZING PAYMENT | APPROVED | PAID | TO DATE | & UNPAID | |||||||||||||||
| 1. Asset Servicing Group | $ | 271,656.00 | 11 | |||||||||||||||||
| 2. Bridgepoint Consulting | $ | 122,816.30 | 11 | |||||||||||||||||
| 3. Epiq Bankruptcy Solutions | $ | 98,992.39 | $ | 123,992.39 | $ | 941,402.02 | 11 & 13 | |||||||||||||
| 4. Kim Hinkle, Attorney at Law | $ | 79,363.00 | 11 | |||||||||||||||||
| 5. MMS Advisors | $ | 147,000.00 | 11 & 12 | |||||||||||||||||
| 6. Munsch, Hardt, Kopf & Harr,P.C. | $ | 350,000.00 | 11 | |||||||||||||||||
| 7. Thompson & Knight LLP | $ | 1,887,500.00 | 11 | |||||||||||||||||
| 8. Tom Moran, US Trustee | $ | 171,900.00 | 11 | |||||||||||||||||
| 9. Phillips Murrah | $ | 128,431.00 | 11 | |||||||||||||||||
| TOTAL PAYMENTS TO PROFESSIONALS | $ | - | $ | 98,992.39 | $ | 123,992.39 | $ | 4,100,068.32 | ||||||||||||
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
| SCHEDULED | AMOUNTS | TOTAL | ||||||||||
| MONTHLY | PAID | UNPAID | ||||||||||
| PAYMENTS | DURING | POST- | ||||||||||
| NAME OF CREDITOR | DUE | MONTH | PETITION | |||||||||
| 1. Pitney Bowes Global Financial Services, LLC | $ | 5,423.33 | $ | 5,423.33 | $ | - | 10 | |||||
| 2. Pitney Bowes Global Financial Services, LLC | $ | 906.06 | $ | - | $ | - | 10 | |||||
| 3. Johnnies Office Systems, Inc. | $ | 1,054.61 | $ | - | $ | 1,054.61 | ||||||
| 4. Great America Financial Services | $ | 2,938.52 | $ | 2,938.52 | $ | - | ||||||
| 5. Life Partners Holdings, Inc. | $ | 10,000.00 | $ | 10,000.00 | $ | - | ||||||
| 6. Nick Courcoumelis | $ | 630.00 | $ | - | $ | 630.00 | ||||||
| 5. | ||||||||||||
| 6. TOTAL | $ | 20,952.52 | $ | 18,361.85 | $ | 1,684.61 | ||||||
| 5 | See Exhibit 1 for current month payment details. |
| 10 | These lease payments are quarterly, not monthly. |
| 11 | Professional fees and expenses estimated and accrued prior to May 19th are reflected only on the books of Life Partners Holdings, Inc. Thereafter, professional fees and expenses reflect the estimated aggregate, unallocated fees and expenses for all of the Debtors, and are noted on each of the Debtors MORs. |
| 12 | MMS Advisors incurred fees and expenses March 13th - May 18th in the estimated amount of $230,000.00 that are not included here since their retention has not been approved for this period of time. |
| 13 | Total paid to Epiq Bankruptcy Solutions includes a $25,000 retainer paid prepetition on 5/5/15 by LPI Financial Services, Inc. |
Monthly Operating Report
CASH BASIS-6
2015
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-41995 |
| MONTH: | July |
QUESTIONNAIRE
| YES | NO | |||||
| 1. | HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? | X | ||||
| 2. | HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? | X | ||||
| 3. | ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES OR LOANS) DUE FROM RELATED PARTIES? | X | ||||
| 4. | HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? | X | ||||
| 5. | HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? | X | ||||
| 6. | ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? | X | ||||
| 7. | ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? | X | ||||
| 8. | ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? | X | ||||
| 9. | ARE ANY OTHER POSTPETITION TAXES PAST DUE? | X | ||||
| 10. | ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? | X | ||||
| 11. | HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? | X | ||||
| 12. | ARE ANY WAGE PAYMENTS PAST DUE? | X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES"; PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
| Questionnaire Item 4. Approval of Motion authorizing payments of pre-petition amounts owed for employee wages & benefits (Dkt No. 501). |
INSURANCE
| YES | NO | |||||
| 1. | ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? | X | ||||
| 2. | ARE ALL PREMIUM PAYMENTS PAID CURRENT? | X | ||||
| 3. | PLEASE ITEMIZE POLICIES BELOW | X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO" OR IF ANY POLICIES HAVE BEEN CANCELED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSTALLMENT PAYMENTS
| TYPE OF | PERIOD | PAYMENT AMOUNT | ||||||
| POLICY | CARRIER | COVERED | & FREQUENCY | |||||
| Workers' Compensation | Service Lloyds Ins Co | 06/14/15 - 06/14/16 | $ | 316.00 /month | ||||
| Life Partners, Inc. Case No. 15-41995 | EXHIBIT 1 |
| BANK ACCOUNT DISBURSEMENTS | |||||||||||||
| CK# | DATE | PAYEE | PURPOSE | AMOUNT | |||||||||
| 001009 | 07/01/15 | Millennium Trust Company, LLC | Flow Thru Premiums | $ | 4,172.03 | ||||||||
| 001010 | 07/01/15 | Provident Trust Group | Flow Thru Premiums | $ | 13,845.45 | ||||||||
| 001052 | 07/01/15 | Purchase Escrow Services, LLC | Premiums Advanced | $ | 55,742.82 | 5 | |||||||
| 001053 | 07/01/15 | AVS Underwriting, LLC | LE Medical Review | $ | 350.00 | ||||||||
| 001054 | 07/01/15 | City of Waco Water Office | Utilities | $ | 854.77 | ||||||||
| 001055 | 07/01/15 | Mark Embry | Travel | $ | 263.83 | 5 | |||||||
| 001056 | 07/01/15 | EPIQ Systems Acquisition, Inc. | Professional Fees | $ | 6,826.77 | ||||||||
| 001057 | 07/01/15 | Ozarka | Supplies | $ | 316.97 | ||||||||
| 001060 | 07/01/15 | Purchase Escrow Services, LLC | Premiums on positions we own | $ | 5,147.70 | 5 | |||||||
| 001061 | 07/01/15 | TALX Corporation | Subscriptions | $ | 408.59 | ||||||||
| Wire | 07/01/15 | AFCO | Insurance | $ | 34,288.36 | 1 | |||||||
| ACH 070215 | 07/02/15 | MyPay Solutions-Net Pay | Net Payroll | $ | 57,252.31 | ||||||||
| ACH 070215 | 07/02/15 | MyPay Solutions-Tax Impund | Payroll Taxes Paid | $ | 20,008.31 | ||||||||
| ACH 070215 | 07/02/15 | MyPay Solutions-TX CS Impound | Payroll Garnishment | $ | 151.86 | ||||||||
| ACH 070215 | 07/02/15 | MyPay Solutions | Outside Services | $ | 94.61 | ||||||||
| ACH 070215 | 07/02/15 | Voya National Trust182 | Payroll-401K Deductions | $ | 4,600.84 | ||||||||
| Bank Fees | 07/03/15 | Bank of Texas | Overdraft Fee | $ | 32.75 | ||||||||
| Bank Fees | 07/03/15 | Bank of Texas | Overdraft Fee | $ | 32.75 | ||||||||
| Bank Fees | 07/03/15 | Bank of Texas | Overdraft Fee | $ | 32.75 | ||||||||
| Bank Fees | 07/06/15 | Bank of Texas | Refund Overdraft Fee | $ | (32.75 | ) | |||||||
| Bank Fees | 07/06/15 | Bank of Texas | Refund Overdraft Fee | $ | (32.75 | ) | |||||||
| Bank Fees | 07/06/15 | Bank of Texas | Refund Overdraft Fee | $ | (32.75 | ) | |||||||
| 001062 | 07/08/15 | Paytime Network, LLC | Outside Services | $ | 163.75 | ||||||||
| 001063 | 07/08/15 | Allison Enterprises, Inc. | Repairs & Maintenance | $ | 38.97 | ||||||||
| 001064 | 07/08/15 | American Express | Subscriptions | $ | 4,649.94 | ||||||||
| 001065 | 07/08/15 | Atmos Energy | Utilities | $ | 47.79 | ||||||||
| 001066 | 07/08/15 | AT & T Long Distance | Utilities | $ | 1,789.71 | ||||||||
| 001067 | 07/08/15 | AT&T | Utilities | $ | 2,097.52 | ||||||||
| 001068 | 07/08/15 | AT&T Mobility | Utilities | $ | 605.25 | ||||||||
| 001069 | 07/08/15 | Kristen Bickham | Travel | $ | 334.97 | ||||||||
| 001070 | 07/08/15 | Blue Cross Blue Shield of Texas | Insurance | $ | 1,041.29 | 7 | |||||||
| 001071 | 07/08/15 | CASH | Petty Cash Reimbursement | $ | 314.30 | ||||||||
| 001072 | 07/08/15 | FED EX | Courier Services | $ | 1,319.50 | ||||||||
| 001073 | 07/08/15 | City of McGregor | Utilities | $ | 85.14 | ||||||||
| 001074 | 07/08/15 | Pitney Bowes Global Financial Services LLC | Rental & Lease Payments | $ | 5,423.33 | ||||||||
| 001081 | 07/08/15 | Purchase Escrow Services, LLC | Premiums on positions we own | $ | 10,770.41 | 5 | |||||||
| 001082 | 07/08/15 | Time Warner Cable | Utilities | $ | 69.52 | ||||||||
| 001083 | 07/08/15 | Frontline eSolutions, LLC | Subscriptions | $ | 18.95 | ||||||||
| 001084 | 07/09/15 | Purchase Escrow Services, LLC | Premiums Advanced | $ | 25,559.33 | 5 | |||||||
| 001085 | 07/09/15 | Purchase Escrow Services, LLC | PES Operating Exp | $ | 11,069.93 | 5 | |||||||
| 001086 | 07/09/15 | Atmos Energy | Utilities | $ | 128.29 | ||||||||
| 001087 | 07/09/15 | AT & T Long Distance | Utilities | $ | 1,616.72 | ||||||||
| 001088 | 07/09/15 | AT&T | Utilities | $ | 2,239.18 | ||||||||
| 001089 | 07/09/15 | AT&T Mobility | Utilities | $ | 1,449.14 | ||||||||
| 001090 | 07/09/15 | AT & T Long Distance | Utilities | $ | 124.15 | ||||||||
| 001091 | 07/09/15 | EPIQ Systems Acquisition, Inc. | Professional Fees | $ | 92,165.62 | ||||||||
| 001092 | 07/09/15 | City of McGregor | Utilities | $ | 154.43 | ||||||||
| 001093 | 07/09/15 | Reliant Energy | Utilities | $ | 10.07 | ||||||||
| 001094 | 07/09/15 | Reliant Energy | Utilities | $ | 1,333.34 | ||||||||
| 001095 | 07/09/15 | Reliant Energy | Utilities | $ | 2,202.40 | ||||||||
| 001096 | 07/09/15 | Reliant Energy | Utilities | $ | 70.25 | ||||||||
| 001097 | 07/09/15 | Reliant Energy | Utilities | $ | 29.58 | ||||||||
| 001098 | 07/09/15 | Time Warner Cable | Utilities | $ | 1,455.10 | ||||||||
| Wire | 07/09/15 | Life Partners Holdings, Inc. | Rental & Lease Payments | $ | 10,000.00 | 5 | |||||||
| 001099 | 07/14/15 | Purchase Escrow Services, LLC | Premiums Advanced | $ | 138,323.79 | 5 | |||||||
| Bank Fees | 07/14/15 | Bank of Texas | Account Analysis Fees | $ | 222.27 | ||||||||
| Bank Fees | 07/14/15 | Bank of Texas | Account Analysis Fees | $ | 357.91 | ||||||||
| 001100 | 07/15/15 | Provident Life & Accident Ins | BK Premiums | $ | 533.19 | ||||||||
| 001101 | 07/15/15 | Anthem Life Ins Company | BK Premiums | $ | 110.00 | ||||||||
| Life Partners, Inc. Case No. 15-41995 | EXHIBIT 1 |
| BANK ACCOUNT DISBURSEMENTS | ||||||||||
| CK# | DATE | PAYEE | PURPOSE | AMOUNT | ||||||
| 001102 | 07/15/15 | Prudential | BK Premiums | $ | 297.50 | |||||
| 001103 | 07/15/15 | Purchase Escrow Services, LLC | Premiums Advanced | $ | 575.19 | 5 | ||||
| 001104 | 07/15/15 | Kristen Bickham | Travel | $ | 361.22 | |||||
| 001105 | 07/15/15 | FED EX | Courier Services | $ | 3,265.56 | |||||
| 001106 | 07/15/15 | Leonard Graham | Repairs & Maintenance | $ | 1,082.50 | |||||
| 001107 | 07/15/15 | GreatAmerica Financial Svcs. | Rental & Lease Payments | $ | 2,938.52 | |||||
| 001108 | 07/15/15 | LexisNexis | Subscriptions | $ | 31.98 | |||||
| 001109 | 07/15/15 | Secretary of State of Texas | Licenses & Fees | $ | 31.00 | |||||
| 001110 | 07/15/15 | Time Warner Cable | Utilities | $ | 1,451.28 | |||||
| 001111 | 07/15/15 | Vi3 Technologies, Inc. | Outside Services | $ | 1,280.14 | |||||
| 001112 | 07/16/15 | Purchase Escrow Services, LLC | Premiums Advanced | $ | 537.47 | 5 | ||||
| ACH 071615 | 07/16/15 | MyPay Solutions-Net Pay | Net Payroll | $ | 56,852.71 | |||||
| ACH 071615 | 07/16/15 | MyPay Solutions-Tax Impund | Payroll Taxes Paid | $ | 20,061.11 | |||||
| ACH 071615 | 07/16/15 | MyPay Solutions-TX CS Impound | Payroll Garnishment | $ | 151.86 | |||||
| ACH 071615 | 07/16/15 | MyPay Solutions | Outside Services | $ | 96.10 | |||||
| ACH 071615 | 07/16/15 | Voya National Trust182 | Payroll-401K Deductions | $ | 4,600.37 | |||||
| 001113 | 07/21/15 | Jamie Berry | Outside Services | $ | 600.00 | |||||
| 001114 | 07/21/15 | Purchase Escrow Services, LLC | Premiums Advanced | $ | 103,666.65 | 5 | ||||
| 001115 | 07/21/15 | Reliant Energy | Utilities | $ | 10.06 | |||||
| 001116 | 07/21/15 | Reliant Energy | Utilities | $ | 1,648.06 | |||||
| 001117 | 07/21/15 | Reliant Energy | Utilities | $ | 29.17 | |||||
| 001118 | 07/21/15 | Reliant Energy | Utilities | $ | 81.90 | |||||
| 001119 | 07/21/15 | Reliant Energy | Utilities | $ | 2,485.53 | |||||
| 001120 | 07/21/15 | Sam's Club/GEMB | Supplies | $ | 320.00 | |||||
| 001121 | 07/22/15 | Purchase Escrow Services, LLC | Premiums Advanced | $ | 548.10 | 5 | ||||
| 001122 | 07/23/15 | Purchase Escrow Services, LLC | Premiums Advanced | $ | 12,633.38 | 5 | ||||
| Bank Fees | 07/23/15 | Bank of Texas | Overdraft Fee | $ | 32.75 | |||||
| Bank Fees | 07/23/15 | Bank of Texas | Overdraft Fee | $ | 32.75 | |||||
| Bank Fees | 07/23/15 | Bank of Texas | Overdraft Fee | $ | 32.75 | |||||
| Bank Fees | 07/23/15 | Bank of Texas | Overdraft Fee | $ | 32.75 | |||||
| 001123 | 07/24/15 | Commonwealth Annuity & Life Ins. Co. | Premiums Advanced | $ | 4,844.76 | |||||
| Bank Fees | 07/24/15 | Bank of Texas | Refund Overdraft Fee | $ | (32.75 | ) | ||||
| Bank Fees | 07/24/15 | Bank of Texas | Refund Overdraft Fee | $ | (32.75 | ) | ||||
| Bank Fees | 07/24/15 | Bank of Texas | Refund Overdraft Fee | $ | (32.75 | ) | ||||
| Bank Fees | 07/24/15 | Bank of Texas | Refund Overdraft Fee | $ | (32.75 | ) | ||||
| Bank Fees | 07/24/15 | Bank of Texas | Refund Account Analysis Fee | $ | (12.50 | ) | ||||
| Bank Fees | 07/24/15 | Bank of Texas | Refund Account Analysis Fee | $ | (12.50 | ) | ||||
| 001124 | 07/27/15 | Purchase Escrow Services, LLC | Premiums Advanced | $ | 7,955.83 | 5 | ||||
| 001125 | 07/27/15 | Advance Trust & Life Escrow Services, LTA | Premiums on positions we own | $ | 528.65 | 5 | ||||
| 001126 | 07/27/15 | Advance Trust & Life Escrow Services, LTA | Trust Fees | $ | 13,720.87 | 5 | ||||
| 001127 | 07/27/15 | Advance Trust & Life Escrow Services, LTA | Trust Fees | $ | 14,587.25 | 5 | ||||
| 001128 | 07/27/15 | AT & T Long Distance | Utilities | $ | 139.34 | |||||
| 001129 | 07/27/15 | Ken Baker Services | Repairs & Maintenance | $ | 82.00 | |||||
| 001130 | 07/27/15 | Kristen Bickham | Travel | $ | 338.19 | |||||
| 001131 | 07/27/15 | Blue Cross Blue Shield of Texas | Insurance | $ | 25,992.10 | |||||
| 001132 | 07/27/15 | Blue Cross Blue Shield of Texas | Insurance | $ | 4,165.16 | |||||
| 001133 | 07/27/15 | City of Waco Water Office | Utilities | $ | 678.60 | |||||
| 001134 | 07/27/15 | Life Account, LLC | Outside Services | $ | 270.00 | |||||
| 001135 | 07/27/15 | FED EX | Courier Services | $ | 465.50 | |||||
| 001136 | 07/27/15 | Lincoln National Life Ins. Co. | Insurance | $ | 1,306.13 | |||||
| 001137 | 07/27/15 | Professional Building Maintenance Service | Repairs & Maintenance | $ | 1,623.75 | |||||
| 001139 | 07/27/15 | Purchase Escrow Services, LLC | Premiums on positions we own | $ | 4,454.04 | 5 | ||||
| 001140 | 07/27/15 | Service Lloyds Insurance Company | insurance | $ | 316.00 | |||||
| 001141 | 07/27/15 | SolarWinds | Supplies | $ | 613.78 | |||||
| 001142 | 07/27/15 | U.S. Trustee | US Trustee Fees | $ | 325.00 | |||||
| 001143 | 07/27/15 | Vision Service Plan | Insurance | $ | 309.14 | |||||
| 001144 | 07/30/15 | Purchase Escrow Services, LLC | Premiums Advanced | $ | 116.12 | 5 | ||||
| 001145 | 07/30/15 | Purchase Escrow Services, LLC | PES Operating Exp | $ | 23,164.84 | 5 | ||||
| 001146 | 07/30/15 | Ambold's | Repairs & Maintenance | $ | 72.52 | |||||
| 001147 | 07/30/15 | AT&T | Utilities | $ | 297.03 | |||||
| 001148 | 07/30/15 | AT&T | Utilities | $ | 2,863.26 | |||||
| 001149 | 07/30/15 | AT&T | Utilities | $ | 16.79 | |||||
| 001150 | 07/30/15 | AVS Underwriting, LLC | LE Medical Review | $ | 350.00 | |||||
| 001151 | 07/30/15 | Kristen Bickham | Travel | $ | 359.66 | |||||
| 001152 | 07/30/15 | FED EX | Courier Services | $ | 435.87 | |||||
| ACH 073015 | 07/30/15 | MyPay Solutions-Net Pay | Net Payroll | $ | 56,578.06 | |||||
| ACH 073015 | 07/30/15 | MyPay Solutions-Tax Impund | Payroll Taxes Paid | $ | 19,835.88 | |||||
| ACH 073015 | 07/30/15 | MyPay Solutions-TX CS Impound | Payroll Garnishment | $ | 151.86 | |||||
| ACH 073015 | 07/30/15 | MyPay Solutions | Outside Services | $ | 103.78 | |||||
| ACH 073015 | 07/30/15 | Voya National Trust182 | Payroll-401K Deductions | $ | 4,594.64 | |||||
| TOTAL BANK ACCOUNT DISBURSEMENTS | $ | 929,519.01 | ||||||||
| 1 | Disbursement by LPI, Inc. on behalf of LPHI. |
| 5 | Incuded on CASH BASIS-5 as an insider payment. |
| 7 | These checks include payment of amounts that are pre-petition. |
| Life Partners, Inc. Case No. 15-41995 | EXHIBIT 2 |
| Other Personal Property |
| SCHEDULE | MONTH | MONTH | ||||||||||
| DESCRIPTION | AMOUNT | June 30,2015 | July 31,2015 | |||||||||
| PREPAID INSURANCE - THE NITSCHE GROUP INC. | $ | 39,853.51 | $ | 38,835.10 | $ | 37,911.22 | ||||||
| RETAINER - AGUIRRE LAW | $ | 26,925.36 | $ | 26,925.36 | $ | 26,925.36 | ||||||
| RETAINER - LAW OFFICE OF HARRIET O'NEILL | $ | 15,000.00 | $ | 15,000.00 | $ | - | ||||||
| RETAINER - MCGLADREY LLP | $ | 15,000.00 | $ | 15,000.00 | $ | 15,000.00 | ||||||
| RETAINER - C. ALFRED MACKENZIE RETAINER | $ | 11,407.57 | $ | 4,792.50 | $ | 4,792.50 | ||||||
| PREPAID - AMERICAN EXPRESS | $ | 6,884.16 | $ | 2,958.15 | $ | - | ||||||
| RETAINER - LAW OFFICE OF DOUGLAS M BERMAN | $ | 5,368.75 | $ | 5,368.75 | $ | 5,368.75 | ||||||
| RETAINER - DR. JAMES LINEBACK | $ | 5,000.00 | $ | 5,000.00 | $ | 5,000.00 | ||||||
| PREPAID TAXES - FRANCHISE TAX BOARD | $ | 4,800.00 | $ | 4,800.00 | $ | 4,800.00 | ||||||
| RETAINER - WEST & ASSOCIATES LLP | $ | 4,750.77 | $ | 4,750.77 | $ | 4,750.77 | ||||||
| RETAINER - SQUIRES BATTON BOGGS (US) LLP | $ | 4,226.00 | $ | 4,226.00 | $ | 4,226.00 | ||||||
| RETAINER - HORWOOD, MARCUS & BERK | $ | 2,867.62 | $ | 2,867.62 | $ | 2,867.62 | ||||||
| RETAINER - MCGARRY & LAUFENBERG | $ | 1,303.00 | $ | 1,303.00 | $ | 1,303.00 | ||||||
| TOTAL | $ | 143,386.74 | $ | 131,827.25 | $ | 112,945.22 | ||||||
| Date: | |
| Time: User: | |
| Tuesday, August 18, 2015 | EXHIBIT 3 |
| 08:17AM BSTRIPLING |
Life Partners Inc
Period Sensitive Aged AP - Detail
Period: 05-16 As of: 7/31/2015
Page:
Report:
Company:
1 of 3
03681d.rpt
04
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days
Past Due 31 |
||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | |
| Company: | 01 | ||||||||||||||
| AIRF00 | Allison Enterprises, Inc. | A | |||||||||||||
| 234702 | 133573 | VO | A | 8/14/2015 | 8/14/2015 | 8/12/2015 | 142.08 | 0.00 | 0.00 | 0.00 | 0.00 | 142.08 | |||
| 234703 | 133540 | VO | A | 8/14/2015 | 8/14/2015 | 8/12/2015 | 38.97 | 0.00 | 0.00 | 0.00 | 0.00 | 38.97 | |||
| Vendor Total | 181.05 | 0.00 | 0.00 | 0.00 | 0.00 | 181.05 | |||||||||
| AMBO00 | Ambold's | A | |||||||||||||
| 234828 | 3557-7/31/15 | VO | A | 8/30/2015 | 8/30/2015 | 8/26/2015 | 72.52 | 0.00 | 0.00 | 0.00 | 0.00 | 72.52 | |||
| Vendor Total | 72.52 | 0.00 | 0.00 | 0.00 | 0.00 | 72.52 | |||||||||
| AMER01 | American Express | A | |||||||||||||
| 234681 | 5-01003xJun1 | VO | A | 6/28/2015 | 6/28/2015 | 6/28/2015 | 0.00 | 0.00 | 467.24 | 0.00 | 0.00 | 467.24 | |||
| 234684 | 5-01003AppD | AD | A | 6/28/2015 | 6/28/2015 | 0.00 | 0.00 | -467.24 | 0.00 | 0.00 | -467.24 | ||||
| 234830 | 5-01003xJul15 | VO | A | 7/28/2015 | 8/12/2015 | 8/5/2015 | 63.99 | 0.00 | 0.00 | 0.00 | 0.00 | 63.99 | |||
| 234833 | 6-81004xJul15 | VO | A | 7/28/2015 | 8/12/2015 | 8/5/2015 | 6,817.55 | 0.00 | 0.00 | 0.00 | 0.00 | 6,817.55 | |||
| 234834 | 6-81004xJul15 | AD | A | 7/28/2015 | 8/12/2015 | -2,958.15 | 0.00 | 0.00 | 0.00 | 0.00 | -2,958.15 | ||||
| 234835 | 9-93009xJul15 | VO | A | 7/28/2015 | 8/12/2015 | 8/5/2015 | 511.78 | 0.00 | 0.00 | 0.00 | 0.00 | 511.78 | |||
| Vendor Total | 4,435.17 | 0.00 | 0.00 | 0.00 | 0.00 | 4,435.17 | |||||||||
| ATMO00 | Atmos Energy | A | |||||||||||||
| 234785 | 3026943263 | VO | A | 8/12/2015 | 8/12/2015 | 8/5/2015 | 46.84 | 0.00 | 0.00 | 0.00 | 0.00 | 46.84 | |||
| Vendor Total | 46.84 | 0.00 | 0.00 | 0.00 | 0.00 | 46.84 | |||||||||
| ATT279 | AT&T | A | |||||||||||||
| 234731 | 1648578201 | VO | A | 8/8/2015 | 8/8/2015 | 8/5/2015 | 2,033.14 | 0.00 | 0.00 | 0.00 | 0.00 | 2,033.14 | |||
| Vendor Total | 2,033.14 | 0.00 | 0.00 | 0.00 | 0.00 | 2,033.14 | |||||||||
| ATT322 | AT&T | A | |||||||||||||
| 234844 | 25484890920 | VO | A | 8/23/2015 | 8/27/2015 | 8/19/2015 | 107.97 | 0.00 | 0.00 | 0.00 | 0.00 | 107.97 | |||
| Vendor Total | 107.97 | 0.00 | 0.00 | 0.00 | 0.00 | 107.97 | |||||||||
| ATT352 | AT&T Mobility | A | |||||||||||||
| 234786 | 832678352x0 | VO | A | 8/10/2015 | 8/10/2015 | 8/5/2015 | 697.06 | 0.00 | 0.00 | 0.00 | 0.00 | 697.06 | |||
| Vendor Total | 697.06 | 0.00 | 0.00 | 0.00 | 0.00 | 697.06 | |||||||||
| BICK00 | Kristen Bickham | A | |||||||||||||
Date:
Time: User:
Tuesday, August 18, 2015
08:17AM BSTRIPLING
Life Partners Inc
Period Sensitive Aged AP - Detail
Period: 05-16 As of: 7/31/2015
Page:
Report:
Company:
2 of 3
03681d.rpt
04
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days
Past Due 31 |
||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | |
| 234784 | ExpRpt 7/30/1 | VO | A | 8/3/2015 | 8/3/2015 | 254.25 | 0.00 | 0.00 | 0.00 | 0.00 | 254.25 | ||||
| Vendor Total | 254.25 | 0.00 | 0.00 | 0.00 | 0.00 | 254.25 | |||||||||
| BRID00 | Bridgepoint Consulting | ||||||||||||||
| 234708 | 30069 | VO | A | 8/29/2015 | 8/26/2015 | 70,391.90 | 0.00 | 0.00 | 0.00 | 0.00 | 70,391.90 | ||||
| Vendor Total | 70,391.90 | 0.00 | 0.00 | 0.00 | 0.00 | 70,391.90 | |||||||||
| COLE02 | Colette Pieper | ||||||||||||||
| 234824 | ExpRpt 7/31/1 | VO | A | 8/5/2015 | 8/5/2015 | 231.51 | 0.00 | 0.00 | 0.00 | 0.00 | 231.51 | ||||
| Vendor Total | 231.51 | 0.00 | 0.00 | 0.00 | 0.00 | 231.51 | |||||||||
| DELL00 | Dell Marketing L.P. | ||||||||||||||
| 234730 | XJR2R6TW4 | VO | A | 8/20/2015 | 8/20/2015 | 8/12/2015 | 3,067.75 | 0.00 | 0.00 | 0.00 | 0.00 | 3,067.75 | |||
| Vendor Total | 3,067.75 | 0.00 | 0.00 | 0.00 | 0.00 | 3,067.75 | |||||||||
| EPIQ00 | EPIQ Systems Acquisition, Inc. | ||||||||||||||
| 234706 | 90118558 | VO | A | 7/22/2015 | 7/22/2015 | 0.00 | 384,316.57 | 0.00 | 0.00 | 0.00 | 384,316.57 | ||||
| Vendor Total | 0.00 | 384,316.57 | 0.00 | 0.00 | 0.00 | 384,316.57 | |||||||||
| INSI00 | Insight Direct USA, Inc. | ||||||||||||||
| 234699 | 909282220 | VO | A | 8/15/2015 | 8/15/2015 | 8/12/2015 | 946.11 | 0.00 | 0.00 | 0.00 | 0.00 | 946.11 | |||
| Vendor Total | 946.11 | 0.00 | 0.00 | 0.00 | 0.00 | 946.11 | |||||||||
| JOHN00 | Johnnies Office Systems, Inc. | ||||||||||||||
| 234410 | 168964 | VO | A | 6/27/2015 | 6/27/2015 | 6/27/2015 | 0.00 | 0.00 | 41.64 | 0.00 | 0.00 | 41.64 | |||
| 234701 | 169865 | VO | A | 7/29/2015 | 7/29/2015 | 7/22/2015 | 0.00 | 41.64 | 0.00 | 0.00 | 0.00 | 41.64 | |||
| Vendor Total | 0.00 | 41.64 | 41.64 | 0.00 | 0.00 | 83.28 | |||||||||
| LEXI00 | LexisNexis | ||||||||||||||
| 234841 | 5019870-2015 | VO | A | 8/20/2015 | 8/12/2015 | 15.99 | 0.00 | 0.00 | 0.00 | 0.00 | 15.99 | ||||
| Vendor Total | 15.99 | 0.00 | 0.00 | 0.00 | 0.00 | 15.99 | |||||||||
| MCGR01 | City of McGregor | ||||||||||||||
| 234825 | 10-0133-01 | VO | A | 7/22/2015 | 8/10/2015 | 8/5/2015 | 60.14 | 0.00 | 0.00 | 0.00 | 0.00 | 60.14 | |||
| Vendor Total | 60.14 | 0.00 | 0.00 | 0.00 | 0.00 | 60.14 | |||||||||
| PITN02 | Pitney Bowes Inc. | ||||||||||||||
| 234729 | 329035 | VO | A | 8/18/2015 | 8/5/2015 | 491.52 | 0.00 | 0.00 | 0.00 | 0.00 | 491.52 | ||||
Date:
Time: User:
Tuesday, August 18, 2015
08:17AM BSTRIPLING
Life Partners Inc
Period Sensitive Aged AP - Detail
Period: 05-16 As of: 7/31/2015
Page:
Report:
Company:
3 of 3
03681d.rpt
04
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days
Past Due 31 |
||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | |
| Vendor Total | 491.52 | 0.00 | 0.00 | 0.00 | 0.00 | 491.52 | |||||||||
| PROF00 | Professional Building Maintena | ||||||||||||||
| 234826 | 14251 | VO | A | 8/30/2015 | 8/30/2015 | 8/26/2015 | 784.81 | 0.00 | 0.00 | 0.00 | 0.00 | 784.81 | |||
| 234827 | 14252 | VO | A | 8/30/2015 | 8/30/2015 | 8/26/2015 | 838.94 | 0.00 | 0.00 | 0.00 | 0.00 | 838.94 | |||
| Vendor Total | 1,623.75 | 0.00 | 0.00 | 0.00 | 0.00 | 1,623.75 | |||||||||
| PUER00 | Puerta Grande Investment Manag | A | |||||||||||||
| 234829 | 5 | VO | A | 8/5/2015 | 8/5/2015 | 4,500.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4,500.00 | ||||
| Vendor Total | 4,500.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4,500.00 | |||||||||
| RABR00 | Rabroker | A | |||||||||||||
| 234704 | 085332 | VO | A | 8/20/2015 | 8/12/2015 | 280.37 | 0.00 | 0.00 | 0.00 | 0.00 | 280.37 | ||||
| Vendor Total | 280.37 | 0.00 | 0.00 | 0.00 | 0.00 | 280.37 | |||||||||
| TALX00 | TALX Corporation | A | |||||||||||||
| 234685 | 1866088 | VO | A | 8/7/2015 | 7/30/2015 | 8/7/2015 | 0.00 | 767.52 | 0.00 | 0.00 | 0.00 | 767.52 | |||
| Vendor Total | 0.00 | 767.52 | 0.00 | 0.00 | 0.00 | 767.52 | |||||||||
| TEXA13 | Texas Mutual Insurance Company | ||||||||||||||
| 234790 | 20710157 | VO | A | 8/6/2015 | 8/6/2015 | 585.00 | 0.00 | 0.00 | 0.00 | 0.00 | 585.00 | ||||
| Vendor Total | 585.00 | 0.00 | 0.00 | 0.00 | 0.00 | 585.00 | |||||||||
| THOM03 | Thomson Reuters | A | |||||||||||||
| 234325 | 15183438 | VO | H | 6/2/2015 | 6/2/2015 | 0.00 | 0.00 | 906.10 | 0.00 | 0.00 | 906.10 | ||||
| Vendor Total | 0.00 | 0.00 | 906.10 | 0.00 | 0.00 | 906.10 | |||||||||
| UCON00 | Frontline eSolutions, LLC | A | |||||||||||||
| 234843 | 4E0F81F7 | VO | A | 8/11/2015 | 8/11/2015 | 18.95 | 0.00 | 0.00 | 0.00 | 0.00 | 18.95 | ||||
| Vendor Total | 18.95 | 0.00 | 0.00 | 0.00 | 0.00 | 18.95 | |||||||||
| WEST00 | Thomson Reuters | A | |||||||||||||
| 234441 | 831956911 | VO | A | 7/1/2015 | 7/1/2015 | 7/1/2015 | 0.00 | 480.57 | 0.00 | 0.00 | 0.00 | 480.57 | |||
| 234707 | 832134810 | VO | A | 7/31/2015 | 7/31/2015 | 7/29/2015 | 1,310.64 | 0.00 | 0.00 | 0.00 | 0.00 | 1,310.64 | |||
| Vendor Total | 1,310.64 | 480.57 | 0.00 | 0.00 | 0.00 | 1,791.21 | |||||||||
| Company Total | 91,351.63 | 385,606.30 | 947.74 | 0.00 | 0.00 | 477,905.67 | |||||||||
| Life Partners, Inc. Case No. 15-41995 | EXHIBIT 4 |
| OTHER TAXES | June 30,2015 | July 31,2015 | ||||||||||||
| CK# | DATE | PAYEE | PURPOSE | AMOUNT | AMOUNT | |||||||||
| 000107 | 06/10/15 | Arizona Department of Revenue | Sales, Use & Other Taxes Paid | $ | 50.00 | $ | - | |||||||
| 000108 | 06/10/15 | Louisiana Dept. of Revenue | Sales, Use & Other Taxes Paid | $ | 2,000.00 | $ | - | |||||||
| wire | 06/03/15 | State of Connecticut | Sales, Use & Other Taxes Paid | $ | 250.00 | $ | - | |||||||
|
Life Partners, Inc. Case No. 15-41995 |
EXHIBIT 5 |
| Other Receipts and Disbursements | |
| 31-Jul-15 |
| June 30,2015 | July 31,2015 | |||||||
| OTHER RECEIPTS: | Amount | Amount | ||||||
| A/R Collections-Pd in Error | $ | - | $ | - | ||||
| Flow Thru Premiums | $ | 332,105.13 | $ | - | ||||
| Transfer From LPIFS Checking Acct# 4069 | $ | 250,000.00 | $ | 800,000.00 | ||||
| Interest Earned | $ | 14.53 | $ | 14.67 | ||||
| LPI FS Platform Fees Received | $ | 1,938.00 | $ | - | ||||
| Other Inc-dividends on pd out policies | $ | 3.75 | $ | 41.80 | ||||
| Other Income | $ | 0.11 | $ | - | ||||
| Return of retainer | $ | 6,141.59 | $ | 15,000.00 | ||||
| Reimbursements & Refunds-COBRA insurance | $ | 412.11 | ||||||
| Reimbursements & Refunds-Employee Advance | $ | 20.00 | ||||||
| Reimbursements & Refunds-License & Fees | $ | 9.00 | ||||||
| Reimbursements & Refunds-Travel | $ | - | $ | 370.33 | ||||
| Transfer from LPIFS | $ | 3,441.77 | $ | - | ||||
| Transferred from LPHI BoTX Acct | $ | 61,398.28 | $ | - | ||||
| Trust Fees | $ | 50.00 | $ | - | ||||
| Total Other Receipts | $ | 655,093.16 | $ | 815,867.91 | ||||
| June 30,2015 | July 31,2015 | |||||||
| OTHER DISBURSEMENTS: | Amount | Amount | ||||||
| Premiums Advanced | $ | 143,566.75 | $ | 350,503.44 | ||||
| Premiums-LPI Owned positions | $ | 20,900.80 | ||||||
| Bank Fees (Charged & Reversed) | $ | 395.42 | $ | 555.18 | ||||
| BK Premiums | $ | 1,136.05 | $ | 940.69 | ||||
| Courier Services | $ | 1,166.53 | $ | 5,486.43 | ||||
| Flow Thru Premiums | $ | 314,087.65 | $ | 18,017.48 | ||||
| Licenses & Fees | $ | - | $ | 31.00 | ||||
| LPI FS Platform Fees Forwarded | $ | 1,938.00 | $ | - | ||||
| Medical Records | $ | 250.00 | $ | - | ||||
| Medical Review Life Expectancy | $ | - | $ | 700.00 | ||||
| Outside Services | $ | 6,479.50 | $ | 2,608.38 | ||||
| Payroll Garnishment | $ | 151.86 | $ | 455.58 | ||||
| Payroll-401K deductions | $ | 13,722.40 | $ | 13,795.85 | ||||
| PES Operating Exp | $ | 60,834.03 | $ | 34,234.77 | ||||
| Software Licenses & Support | $ | 5,543.30 | $ | - | ||||
| Subscriptions | $ | - | $ | 5,109.46 | ||||
| Tfrd to LPHI BoTX Acct in error | $ | 61,398.28 | $ | - | ||||
| Trust Fees/Cost Reimbursement | $ | 16,789.57 | $ | 28,308.12 | ||||
| Total Other Disbursements | $ | 627,459.34 | $ | 481,647.18 | ||||
Exhibit 99.12
Monthly Operating Report
CASH BASIS
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-41996 |
| JUDGE: | Russell Nelms |
UNITED STATES BANKRUPTCY COURT
NORTHERN & EASTERN DISTRICTS OF TEXAS
REGION 6
MONTHLY OPERATING REPORT
| MONTH ENDING: | July | 2015 | ||
| MONTH | YEAR |
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (CASH BASIS-1 THROUGH CASH BASIS-6) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT, AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
| RESPONSIBLE PARTY: | ||
| /s/ H. Thomas Moran II | Trustee | |
| ORIGINAL SIGNATURE OF RESPONSIBLE PARTY | TITLE | |
| H. Thomas Moran II | 8/20/2015 | |
| PRINTED NAME OF RESPONSIBLE PARTY | DATE | |
| PREPARER: | ||
| /s/ Colette Pieper | CEO | |
| ORIGINAL SIGNATURE OF PREPARER | TITLE | |
| Colette Pieper | 8/20/2015 | |
| PRINTED NAME OF PREPARER | DATE |
Monthly Operating Report
CASH BASIS-1
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-41996 |
| CASH RECEIPTS AND | May 19, 2015 to | MONTH | ||||||||||||||
| DISBURSEMENTS | Jun 30, 2015 | July 31,2015 | MONTH | MONTH | ||||||||||||
| 1. CASH - BEGINNING OF MONTH | $ | 1,744,873.40 | $ | 2,122,124.24 | ||||||||||||
| RECEIPTS | ||||||||||||||||
| 2. CASH SALES | ||||||||||||||||
| 3. ACCOUNTS RECEIVABLE COLLECTIONS | $ | 644,823.02 | $ | 43,875.34 | 2 | |||||||||||
| 4. LOANS AND ADVANCES | ||||||||||||||||
| 5. SALE OF ASSETS | ||||||||||||||||
| 6. LEASE & RENTAL INCOME | ||||||||||||||||
| 7. WAGES | ||||||||||||||||
| 8. OTHER (ATTACH LIST) | $ | 35,484.43 | 1 | |||||||||||||
| 9. TOTAL RECEIPTS | $ | 680,307.45 | $ | 43,875.34 | $ | - | $ | - | ||||||||
| DISBURSEMENTS | ||||||||||||||||
| 10. NET PAYROLL | ||||||||||||||||
| 11. PAYROLL TAXES PAID | ||||||||||||||||
| 12. SALES,USE & OTHER TAXES PAID | ||||||||||||||||
| 13. INVENTORY PURCHASES | ||||||||||||||||
| 14. MORTAGE PAYMENTS | ||||||||||||||||
| 15. OTHER SECURED NOTE PAYMENTS | ||||||||||||||||
| 16. RENTAL & LEASE PAYMENTS | ||||||||||||||||
| 17. UTILITIES | ||||||||||||||||
| 18. INSURANCE | ||||||||||||||||
| 19. VEHICLE EXPENSES | ||||||||||||||||
| 20. TRAVEL | ||||||||||||||||
| 21. ENTERTAINMENT | ||||||||||||||||
| 22. REPAIRS & MAINTENANCE | ||||||||||||||||
| 23. SUPPLIES (includes Postage of $9000) | $ | 9,507.37 | ||||||||||||||
| 24. ADVERTISING | ||||||||||||||||
| 25. HOUSEHOLD EXPENSES | ||||||||||||||||
| 26. CHARITABLE CONTRIBUTIONS | ||||||||||||||||
| 27. GIFTS | ||||||||||||||||
| 28. OTHER (ATTACH LIST) | $ | 293,549.24 | $ | 802,101.28 | 1 | |||||||||||
| 29. TOTAL ORDINARY DISBURSEMENTS | $ | 303,056.61 | $ | 802,101.28 | $ | - | $ | - | ||||||||
| REORGANIZATION EXPENSES | ||||||||||||||||
| 30. PROFESSIONAL FEES | ||||||||||||||||
| 31. U.S. TRUSTEE FEES | $ | 325.00 | ||||||||||||||
| 32. OTHER (ATTACH LIST) | ||||||||||||||||
| 33. TOTAL REORGANIZATION EXPENSES | $ | - | $ | 325.00 | ||||||||||||
| 34. TOTAL DISBURSEMENTS | $ | 303,056.61 | $ | 802,426.28 | $ | - | $ | - | 4 | |||||||
| 35. NET CASH FLOW | $ | 377,250.84 | $ | (758,550.94 | ) | $ | - | $ | - | |||||||
| 36. CASH - END OF MONTH | $ | 2,122,124.24 | $ | 1,363,573.30 | $ | - | $ | - | ||||||||
| 1 | See Exhibit 1 for attached list of Item 8. Other receipts and Item 28. Other disbursements. |
| 2 | The amount previously reported as Accounts Receivable Collections for May 19,2015 to June 30,2015 was incorrect and has been corrected here. |
| 4 | Total Disbursements includes the following amounts that are NOT disbursements, but are transfers of funds between bank accounts (from LPI Financial Services account to Life Partners, Inc. account) for the periods shown below. |
| May 19,2015 to June 30,2015 | $ | 253,441.77 | ||
| July 31,2015 | $ | 800,000.00 |
Monthly Operating Report
CASH BASIS-1A
2015
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-41996 |
| CASH DISBURSEMENTS DETAIL | MONTH: | July |
CASH DISBURSEMENTS
| DATE | PAYEE | PURPOSE | AMOUNT | |||||||||
| TOTAL CASH DISBURSEMENTS | $ | - | ||||||||||
BANK ACCOUNT DISBURSEMENTS
| CK# | DATE | PAYEE | PURPOSE | AMOUNT | ||||||
| 001005 | 7/1/2015 | Preferred Trust Company, LLC | Flow Thru Premiums | $ | 1,439.22 | |||||
| Bank Fee | 07/02/15 | EPN | Credit Card Processing Fees | $ | 10.00 | |||||
| Bank Fee | 07/14/15 | Bank of Texas | Account Analysis Fees | $ | 664.56 | |||||
| Bank Fee | 07/24/15 | Bank of Texas | Acct Analysis Fee Reversed | $ | (12.50 | ) | ||||
| 001006 | 7/27/2015 | U.S. Trustee | U.S. Trustee Fees | $ | 325.00 | |||||
| Transfers | Various | Life Partners, Inc. | Transfer to LPI Acct#4080 | $ | 800,000.00 | 4 | ||||
| TOTAL BANK ACCOUNT DISBURSEMENTS | $ | 802,426.28 | ||||||||
| TOTAL DISBURSEMENTS FOR THE MONTH | $ | 802,426.28 | ||||||||
| 4 | See Footnote on CASH BASIS-1. |
Monthly Operating Report
CASH BASIS-2
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-41996 |
BANK RECONCILIATIONS
| Acct #1 | Acct #2 | Acct #3 | ||||||||||||||
| A. BANK: | Bank of Texas | |||||||||||||||
| B. ACCOUNT NUMBER: | 4069 | |||||||||||||||
| C. PURPOSE (TYPE): | Checking | TOTAL | ||||||||||||||
| 1. BALANCE PER BANK STATEMENT | $ | 1,363,573.30 | $ | 1,363,573.30 | ||||||||||||
| 2. ADD: TOTAL DEPOSITS NOT CREDITED | $ | - | ||||||||||||||
| 3. SUBTRACT: OUTSTANDING CHECKS | $ | - | ||||||||||||||
| 4. OTHER RECONCILING ITEMS | $ | - | ||||||||||||||
| 5. MONTH END BALANCE PER BOOKS | $ | 1,363,573.30 | $ | - | $ | - | $ | 1,363,573.30 | ||||||||
| 6. NUMBER OF LAST CHECK WRITTEN | 1006 | |||||||||||||||
INVESTMENT ACCOUNTS
| DATE OF | TYPE OF | CURRENT | ||||||||||||||
| BANK, ACCOUNT NAME & NUMBER | PURCHASE | INSTRUMENT | VALUE | |||||||||||||
| 8. | ||||||||||||||||
| 9. | ||||||||||||||||
| 10. | ||||||||||||||||
| 11. TOTAL INVESTMENTS | $ | - | ||||||||||||||
| CASH | ||||||||||||||||
| 12. CURRENCY ON HAND | ||||||||||||||||
| 13. TOTAL CASH - END OF MONTH | $ | 1,363,573.30 | ||||||||||||||
Monthly Operating Report
CASH BASIS-3
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-41996 |
ASSETS OF THE ESTATE
| SCHEDULE "A" | SCHEDULE | MONTH | MONTH | |||||||||||||
| REAL PROPERTY | AMOUNT | June 30,2015 | July 31,2015 | MONTH | ||||||||||||
| 1. NONE | ||||||||||||||||
| 2. | ||||||||||||||||
| 3. | ||||||||||||||||
| 4. OTHER (ATTACH LIST) | ||||||||||||||||
| 5. TOTAL REAL PROPERTY ASSETS | $ | - | $ | - | $ | - | $ | - | ||||||||
| SCHEDULE "B" | ||||||||||||||||
| PERSONAL PROPERTY | ||||||||||||||||
| 1. CASH ON HAND | ||||||||||||||||
| 2. CHECKING, SAVINGS, ETC. | $ | 1,744,873.40 | $ | 2,122,124.24 | $ | 1,363,573.30 | ||||||||||
| 3. SECURITY DEPOSITS | ||||||||||||||||
| 4. HOUSEHOLD GOODS | ||||||||||||||||
| 5. BOOKS, PICTURES, ART | ||||||||||||||||
| 6. WEARING APPAREL | ||||||||||||||||
| 7. FURS AND JEWELRY | ||||||||||||||||
| 8. FIREARMS & SPORTS EQUIPMENT | ||||||||||||||||
| 9. INSURANCE POLICIES | unknown | unknown | unknown | |||||||||||||
| 10. ANNUITIES | ||||||||||||||||
| 11. EDUCATION | ||||||||||||||||
| 12. RETIREMENT & PROFIT SHARING | ||||||||||||||||
| 13. STOCKS | ||||||||||||||||
| 14. PARTNERSHIPS & JOINT VENTURES | ||||||||||||||||
| 15. GOVERNMENT & CORPORATE BONDS | ||||||||||||||||
| 16. ACCOUNTS RECEIVABLE | $ | 6,899,018.44 | $ | 6,980,205.78 | $ | 7,734,889.82 | 3 | |||||||||
| 17. ALIMONY | ||||||||||||||||
| 18. OTHER LIQUIDATED DEBTS | ||||||||||||||||
| 19. EQUITABLE INTERESTS | ||||||||||||||||
| 20. CONTINGENT INTERESTS | ||||||||||||||||
| 21. OTHER CLAIMS | ||||||||||||||||
| 22. PATENTS & COPYRIGHTS | ||||||||||||||||
| 23. LICENSES & FRANCHISES | ||||||||||||||||
| 24. CUSTOMER LISTS | ||||||||||||||||
| 25. AUTOS, TRUCKS & OTHER VEHICLES | ||||||||||||||||
| 26. BOATS & MOTORS | ||||||||||||||||
| 27. AIRCRAFT | ||||||||||||||||
| 28. OFFICE EQUIPMENT | ||||||||||||||||
| 29. MACHINERY, FIXTURES & EQUIPMENT | ||||||||||||||||
| 30. INVENTORY | ||||||||||||||||
| 31. ANIMALS | ||||||||||||||||
| 32. CROPS | ||||||||||||||||
| 33. FARMING EQUIPMENT | ||||||||||||||||
| 34. FARM SUPPLIES | ||||||||||||||||
| 35. OTHER (ATTACH LIST) | ||||||||||||||||
| 36. TOTAL PERSONAL PROPERTY ASSETS | $ | 8,643,891.84 | $ | 9,102,330.02 | $ | 9,098,463.12 | $ | - | ||||||||
| 37. TOTAL ASSETS | $ | 8,643,891.84 | $ | 9,102,330.02 | $ | 9,098,463.12 | $ | - | ||||||||
| 3 | Item 16. Accounts Receivable includes the following: | |||||||||||||||||
| Accounts Receivable-Platform Fees | $ | 2,741,107.18 | $ | 2,565,972.91 | $ | 2,523,536.79 | ||||||||||||
| Intercompany Transfers to Life Partners, Inc. | $ | 4,157,911.26 | $ | 4,414,232.87 | $ | 5,211,353.03 |
Monthly Operating Report
CASH BASIS-4
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-41996 |
| MONTH: | July |
LIABILITIES OF THE ESTATE
| PREPETITION | SCHEDULE | |||||||
| LIABILITIES | AMOUNT | PAYMENTS | ||||||
| 1. SECURED | ||||||||
| 2. PRIORITY | unknown | |||||||
| 3. UNSECURED | $ | 9,000.77 | ||||||
| 4. OTHER (ATTACH LIST) | ||||||||
| 5. TOTAL PREPETITION LIABILITIES | $ | 9,000.77 | $ | - | ||||
| POSTPETITION | DATE | AMOUNT | DUE | AMOUNT | ||||||||
| LIABILITIES | INCURRED | OWED | DATE | PAST DUE | ||||||||
| 1. FEDERAL INCOME TAXES | ||||||||||||
| 2. FICA/MEDICARE | ||||||||||||
| 3. STATE TAXES | ||||||||||||
| 4. REAL ESTATE TAXES | ||||||||||||
| 5. OTHER TAXES (ATTACH LIST) | ||||||||||||
| 6. TOTAL TAXES | $ | - | $ | - | ||||||||
| OTHER POSTPETITION LIABILITIES INCLUDING TRADE CREDITORS (LIST NAMES OF CREDITORS) | ||||||||||||
| 7. American Express | 07/28/15 | $ | 1,501.42 | 08/12/15 | $ | - | ||||||
| 8. Pitney Bowes | 07/20/15 | $ | 1,158.82 | 08/19/15 | $ | - | ||||||
| 9. | ||||||||||||
| 10. | ||||||||||||
| 11. | ||||||||||||
| 12. | ||||||||||||
| 13. | ||||||||||||
| 14. | ||||||||||||
| 15. | ||||||||||||
| 16. | ||||||||||||
| 17. | ||||||||||||
| 18. | ||||||||||||
| 19. | ||||||||||||
| 20. | ||||||||||||
| 21. | ||||||||||||
| 22. | ||||||||||||
| 23. | ||||||||||||
| 24. | ||||||||||||
| 25. | ||||||||||||
| 26. | ||||||||||||
| 27. | ||||||||||||
| 28. | ||||||||||||
| 29. (IF ADDITIONAL ATTACH LIST) | ||||||||||||
| 30. TOTAL OF LINES 7 - 29 | $ | 2,660.24 | $ | - | ||||||||
| 31. TOTAL POSTPETITION LIABILITIES | $ | 2,660.24 | $ | - | ||||||||
Monthly Operating Report
CASH BASIS-4A
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-41996 |
| MONTH: | July |
ACCOUNTS RECEIVABLE AGING
| SCHEDULE | MONTH | MONTH | ||||||||||||||
| AMOUNT | June 30,2015 | July 31,2015 | MONTH | |||||||||||||
| 1. 0 - 30 | ||||||||||||||||
| 2. 31 - 60 | $ | 803,662.42 | ||||||||||||||
| 3. 61 - 90 | $ | 605,497.15 | ||||||||||||||
| 4. 91 + | $ | 1,937,444.76 | $ | 1,960,475.76 | $ | 2,523,536.79 | ||||||||||
| 5. TOTAL ACCOUNTS RECEIVABLE | $ | 2,741,107.18 | $ | 2,565,972.91 | $ | 2,523,536.79 | $ | - | ||||||||
| 6. AMOUNT CONSIDERED UNCOLLECTIBLE | ||||||||||||||||
| 7. ACCOUNTS RECEIVABLE (NET) | $ | 2,741,107.18 | $ | 2,565,972.91 | $ | 2,523,536.79 | $ | - | ||||||||
AGING OF POSTPETITION TAXES AND PAYABLES
| 0 – 30 | 31-60 | 90+ | ||||||||||||||
| TAXES PAYABLE | DAYS | DAYS | DAYS | Total | ||||||||||||
| 1. FEDERAL | $ | - | ||||||||||||||
| 2. STATE | $ | - | ||||||||||||||
| 3. LOCAL | $ | - | ||||||||||||||
| 4. OTHER (ATTACH LIST) | $ | - | ||||||||||||||
| 5. TOTAL TAXES PAYABLE | $ | - | $ | - | $ | - | $ | - | ||||||||
| 6. ACCOUNTS PAYABLE | $ | 2,660.24 | $ | - | $ | - | $ | 2,660.24 | ||||||||
STATUS OF POSTPETITION TAXES
| BEGINNING | AMOUNT | ENDING | ||||||||||||||
| TAX | WITHHELD | AMOUNT | TAX | |||||||||||||
| FEDERAL | LIABILITY | OR ACCRUED | PAID | LIABILITY | ||||||||||||
| 1. WITHHOLDING | $ | - | ||||||||||||||
| 2. FICA-EMPLOYEE | $ | - | ||||||||||||||
| 3. FICA-EMPLOYER | $ | - | ||||||||||||||
| 4. UNEMPLOYMENT | $ | - | ||||||||||||||
| 5. INCOME | $ | - | ||||||||||||||
| 6. OTHER (ATTACH LIST) | $ | - | ||||||||||||||
| 7. TOTAL FEDERAL TAXES | $ | - | $ | - | $ | - | $ | - | ||||||||
| STATE AND LOCAL | $ | - | ||||||||||||||
| 8. WITHHOLDING | $ | - | ||||||||||||||
| 9. SALES | $ | - | ||||||||||||||
| 10. EXCISE | $ | - | ||||||||||||||
| 11. UNEMPLOYMENT | $ | - | ||||||||||||||
| 12. REAL PROPERTY | $ | - | ||||||||||||||
| 13. PERSONAL PROPERTY | $ | - | ||||||||||||||
| 14. OTHER (ATTACH LIST) | $ | - | ||||||||||||||
| 15. TOTAL STATE & LOCAL | $ | - | $ | - | $ | - | $ | - | ||||||||
| 16. TOTAL TAXES | $ | - | $ | - | $ | - | $ | - | ||||||||
Monthly Operating Report
CASH BASIS-5
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-41996 |
| MONTH: | July |
PAYMENTS TO INSIDERS AND PROFESSIONALS
| INSIDERS | ||||||||||||
| NAME | TYPE OF PAYMENT | AMOUNT PAID | TTL PD TO DATE | |||||||||
| 1. | ||||||||||||
| 2. | ||||||||||||
| 3. | ||||||||||||
| 4. | ||||||||||||
| 5. | ||||||||||||
| 6. | ||||||||||||
| TOTAL PAYMENTS TO INSIDERS | $ | - | $ | - | ||||||||
| PROFESSIONALS | ||||||||||||||||||||
| DATE OF COURT ORDER | AMOUNT | AMOUNT | TTL PAID | TOTAL INCURRED | ||||||||||||||||
| NAME | AUTHORIZING PAYMENT | APPROVED | PAID | TO DATE | & UNPAID | |||||||||||||||
| 1. Asset Servicing Group | $ | 271,656.00 | 11 | |||||||||||||||||
| 2. Bridgepoint Consulting | $ | 122,816.30 | 11 | |||||||||||||||||
| 3. Epiq Bankruptcy Solutions | $ | 98,992.39 | $ | 123,992.39 | $ | 941,420.02 | 11&12 | |||||||||||||
| 4. Kim Hinkle, Attorney at Law | $ | 79,363.00 | 11 | |||||||||||||||||
| 5. MMS Advisors | $ | 147,000.00 | 11&13 | |||||||||||||||||
| 6. Munsch, Hardt, Kopf & Harr,P.C. | $ | 350,000.00 | 11 | |||||||||||||||||
| 7. Thompson & Knight LLP | $ | 1,887,500.00 | 11 | |||||||||||||||||
| 8. Tom Moran, US Trustee | $ | 171,900.00 | 11 | |||||||||||||||||
| 9. Phillips Murrah | $ | 128,431.00 | 11 | |||||||||||||||||
| TOTAL PAYMENTS TO PROFESSIONALS | $ | - | $ | 98,992.39 | $ | 123,992.39 | $ | 4,100,086.32 | ||||||||||||
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
| SCHEDULED | AMOUNTS | TOTAL | ||||||||||
| MONTHLY | PAID | UNPAID | ||||||||||
| PAYMENTS | DURING | POST- | ||||||||||
| NAME OF CREDITOR | DUE | MONTH | PETITION | |||||||||
| 1. | $ | - | ||||||||||
| 2. | $ | - | ||||||||||
| 3. | $ | - | ||||||||||
| 4. | $ | - | ||||||||||
| 5. | $ | - | ||||||||||
| 6. TOTAL | $ | - | $ | - | $ | - | ||||||
| 11 | Professional fees and expenses estimated and accrued prior to May 19th are reflected only on the books of Life Partners Holdings, Inc. Thereafter, professional fees and expenses reflect the estimated aggregate, unallocated fees and expenses for all of the Debtors, and are noted on each of the Debtors MORs. |
| 12 | The amount paid to Epiq Bankruptcy Solutions was paid by Life Partners, Inc. Total paid to date also includes a $25,000 retainer paid LPI Financial Services on 5/5/2015. |
| 13 | MMS Advisors incurred fees and expenses March 13th - May 18th in the estimated amount of $230,000.00 that are not included here since their retention has not been approved for this period of time. |
Monthly Operating Report
CASH BASIS-6
2015
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-41996 |
| MONTH: | July |
QUESTIONNAIRE
| YES | NO | |||||
| 1. | HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? | X | ||||
| 2. | HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? | X | ||||
| 3. | ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES OR LOANS) DUE FROM RELATED PARTIES? | X | ||||
| 4. | HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? | X | ||||
| 5. | HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? | X | ||||
| 6. | ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? | X | ||||
| 7. | ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? | X | ||||
| 8. | ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? | X | ||||
| 9. | ARE ANY OTHER POSTPETITION TAXES PAST DUE? | X | ||||
| 10. | ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? | X | ||||
| 11. | HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? | X | ||||
| 12. | ARE ANY WAGE PAYMENTS PAST DUE? | X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES"; PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSURANCE
| YES | NO | |||||
| 1. | ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? | X | ||||
| 2. | ARE ALL PREMIUM PAYMENTS PAID CURRENT? | X | ||||
| 3. | PLEASE ITEMIZE POLICIES BELOW | X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO" OR IF ANY POLICIES HAVE BEEN CANCELED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSTALLMENT PAYMENTS
| TYPE OF | PERIOD | PAYMENT AMOUNT | ||||||
| POLICY | CARRIER | COVERED | & FREQUENCY | |||||
| LPI Financial Services, Inc. Case No. 15-41996 | EXHIBIT 1 |
Other Receipts and Disbursements
31-Jul-15
| June 30,2015 | July 31,2015 | |||||||
| Amount | Amount | |||||||
| OTHER RECEIPTS: | ||||||||
| Dividends Forward to LPI | $ | 3.75 | ||||||
| Flow Thru Premiums | $ | 32,447.83 | ||||||
| Premiums Returned | $ | 3,011.52 | ||||||
| Spoiled Postage Refund | $ | 21.33 | ||||||
| $ | 35,484.43 | $ | - | |||||
| Amount | Amount | |||||||
| OTHER DISBURSEMENTS: | ||||||||
| Bank Fees | $ | 890.61 | $ | 652.06 | ||||
| Credit Card Processing Fees | $ | 5,192.98 | $ | 10.00 | ||||
| Dividends Forward to LPI | $ | 3.75 | ||||||
| Flow Thru Premiums | $ | 31,008.61 | $ | 1,439.22 | ||||
| Premiums Returned | $ | 3,011.52 | ||||||
| Transfer to LPI | $ | 250,000.00 | $ | 800,000.00 | ||||
| Transfer to LPI bank account | $ | 3,441.77 | ||||||
| Voided Checks | $ | - | ||||||
| $ | 293,549.24 | $ | 802,101.28 | |||||
Exhibit 99.13
Monthly Operating Report
CASH BASIS
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| JUDGE: | Russell Nelms |
UNITED STATES BANKRUPTCY COURT
NORTHERN & EASTERN DISTRICTS OF TEXAS
REGION 6
MONTHLY OPERATING REPORT
| MONTH ENDING: | June | 2015 | ||||
| MONTH | YEAR | |||||
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (CASH BASIS-1 THROUGH CASH BASIS-6) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT, AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
| RESPONSIBLE PARTY: | ||
| /s/ H. Thomas Moran II | Trustee | |
| ORIGINAL SIGNATURE OF RESPONSIBLE PARTY | TITLE | |
| H. Thomas Moran II | 7/20/2015 | |
| PRINTED NAME OF RESPONSIBLE PARTY | DATE | |
| PREPARER: | ||
| /s/ Colette Pieper | CEO | |
| ORIGINAL SIGNATURE OF PREPARER | TITLE | |
| Colette Pieper | 7/20/2015 | |
| PRINTED NAME OF PREPARER | DATE | |
| NOTES: | ||
| Schedule Amounts were updated per the amended filing on 7/2/15. |
Monthly Operating Report
CASH BASIS-1
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| CASH RECEIPTS AND | Jan 21, 2015 to | MONTH | MONTH | MONTH | MONTH | |||||||||||
| DISBURSEMENTS | Feb 28, 2015 | Mar 31, 2015 | Apr 30,2015 | May 31,2015 | June 30,2015 | |||||||||||
| 1. CASH - BEGINNING OF MONTH | $ | 51,248.28 | $ | 59,637.28 | $ | 34,256.39 | $ | 12,603.29 | $ | 21,359.90 | ||||||
| RECEIPTS | ||||||||||||||||
| 2. CASH SALES | ||||||||||||||||
| 3. ACCOUNTS RECEIVABLE COLLECTIONS | ||||||||||||||||
| 4. LOANS AND ADVANCES | ||||||||||||||||
| 5. SALE OF ASSETS | ||||||||||||||||
| 6. LEASE & RENTAL INCOME | $ | 10,500.00 | $ | 10,000.00 | $ | 10,000.00 | $ | 10,000.00 | $ | 22,000.00 | 11 | |||||
| 7. WAGES | ||||||||||||||||
| 8. OTHER (ATTACH LIST) | $ | 12.43 | $ | 0.21 | $ | 61,398.28 | 2 | |||||||||
| 9. TOTAL RECEIPTS | $ | 10,512.43 | $ | 10,000.21 | $ | 10,000.00 | $ | 71,398.28 | $ | 22,000.00 | ||||||
| DISBURSEMENTS | ||||||||||||||||
| 10. NET PAYROLL | ||||||||||||||||
| 11. PAYROLL TAXES PAID | ||||||||||||||||
| 12. SALES,USE & OTHER TAXES PAID | $ | 150.00 | ||||||||||||||
| 13. INVENTORY PURCHASES | ||||||||||||||||
| 14. MORTAGE PAYMENTS | ||||||||||||||||
| 15. OTHER SECURED NOTE PAYMENTS | ||||||||||||||||
| 16. RENTAL & LEASE PAYMENTS | ||||||||||||||||
| 17. UTILITIES | ||||||||||||||||
| 18. INSURANCE | $ | 1,048.43 | $ | 35,346.78 | $ | 1,058.43 | $ | 1,054.43 | $ | 2,462.99 | ||||||
| 19. VEHICLE EXPENSES | ||||||||||||||||
| 20. TRAVEL | ||||||||||||||||
| 21. ENTERTAINMENT | ||||||||||||||||
| 22. REPAIRS & MAINTENANCE | ||||||||||||||||
| 23. SUPPLIES | $ | 433.02 | $ | 484.65 | ||||||||||||
| 24. ADVERTISING | ||||||||||||||||
| 25. HOUSEHOLD EXPENSES | ||||||||||||||||
| 26. CHARITABLE CONTRIBUTIONS | ||||||||||||||||
| 27. GIFTS | ||||||||||||||||
| 28. OTHER (ATTACH LIST) | $ | 1,075.00 | $ | 34.32 | $ | 28,211.65 | $ | 61,587.24 | $ | 5,580.56 | 2 | |||||
| 29. TOTAL ORDINARY DISBURSEMENTS | $ | 2,123.43 | $ | 35,381.10 | $ | 29,703.10 | $ | 62,641.67 | $ | 8,678.20 | ||||||
| REORGANIZATION EXPENSES | ||||||||||||||||
| 30. PROFESSIONAL FEES | ||||||||||||||||
| 31. U.S. TRUSTEE FEES | $ | 1,950.00 | ||||||||||||||
| 32. OTHER (ATTACH LIST) | ||||||||||||||||
| 33. TOTAL REORGANIZATION EXPENSES | $ | - | $ | - | $ | 1,950.00 | $ | - | ||||||||
| 34. TOTAL DISBURSEMENTS | $ | 2,123.43 | $ | 35,381.10 | $ | 31,653.10 | $ | 62,641.67 | $ | 8,678.20 | 1 | |||||
| 35. NET CASH FLOW | $ | 8,389.00 | $ | (25,380.89 | ) | $ | (21,653.10 | ) | $ | 8,756.61 | $ | 13,321.80 | ||||
| 36. CASH - END OF MONTH | $ | 59,637.28 | $ | 34,256.39 | $ | 12,603.29 | $ | 21,359.90 | $ | 34,681.70 | ||||||
| 1 | Attached Exhibit 1 lists all disbursements by LPI, Inc. on behalf of LPHI for the month. |
| 2 | Attached Exhibit 3 list receipts in '8. Other' and disbursements in '28. Other' above. |
| 11 | Includes Rental Income for the buildings and for the airport hangar. |
Monthly Operating Report
CASH BASIS-1A
2015
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| CASH DISBURSEMENTS DETAIL | MONTH: | June |
CASH DISBURSEMENTS
| DATE | PAYEE | PURPOSE | AMOUNT | |||||||||
| TOTAL CASH DISBURSEMENTS | $ | - | ||||||||||
BANK ACCOUNT DISBURSEMENTS
| CK# | DATE | PAYEE | PURPOSE | AMOUNT | ||||||
| debit | 06/01/15 | Deluxe Business Checks & Solutions | Office Supply | $ | 140.35 | |||||
| debit | 06/02/15 | Deluxe Business Checks & Solutions | Office Supply | $ | 198.45 | |||||
| wire | 06/04/15 | American Stock Transfer & Trust, LLC | Registrar & Transfer Fees | $ | 5,300.00 | |||||
| debit | 06/08/15 | Bank of Texas | Wire Fee | $ | 6.00 | |||||
| 102 | 06/10/15 | Oregon Dept. of Revenue | State Income Tax | $ | 150.00 | |||||
| debit | 06/12/15 | Bank of Texas | Account Analysis Fee | $ | 274.56 | |||||
| 103 | 06/16/15 | Allied Insurance | Business Insurance | $ | 1,073.07 | |||||
| 104 | 06/16/15 | Bank Direct Capital Finance | Cyber Liability Insurance | $ | 1,104.82 | |||||
| 105 | 06/16/15 | Travelers Insurance Network of Texas | Insurance | $ | 285.10 | |||||
| debit | 06/18/15 | Deluxe Business Checks & Solutions | Office Supply | $ | 145.85 | |||||
| TOTAL BANK ACCOUNT DISBURSEMENTS | $ | 8,678.20 | ||||||||
| TOTAL DISBURSEMENTS FOR THE MONTH | $ | 8,678.20 | 1 | |||||||
| 1 | Attached Exhibit 1 lists all disbursements by LPI, Inc. on behalf of LPHI for the month. |
Monthly Operating Report
CASH BASIS-2
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
BANK RECONCILIATIONS
| Acct #1 | Acct #2 | Acct #3 | ||||||||||||||
| A. BANK: | Bank of America | Alliance | Bank of Texas | |||||||||||||
| B. ACCOUNT NUMBER: | 3363 | 0613 | 3772 | |||||||||||||
| C. PURPOSE (TYPE): | DIP Acct | MM | Checking | TOTAL | ||||||||||||
| 1. BALANCE PER BANK STATEMENT | $ | - | $ | - | $ | 34,681.70 | $ | 34,681.70 | ||||||||
| 2. ADD: TOTAL DEPOSITS NOT CREDITED | $ | - | ||||||||||||||
| 3. SUBTRACT: OUTSTANDING CHECKS | $ | - | ||||||||||||||
| 4. OTHER RECONCILING ITEMS | $ | - | ||||||||||||||
| 5. MONTH END BALANCE PER BOOKS | $ | - | $ | - | $ | 34,681.70 | $ | 34,681.70 | ||||||||
| 6. NUMBER OF LAST CHECK WRITTEN | 1013 | 105 | ||||||||||||||
INVESTMENT ACCOUNTS
| DATE OF | TYPE OF | PURCHASE | CURRENT | |||||||||||||
| BANK, ACCOUNT NAME & NUMBER | PURCHASE | INSTRUMENT | PRICE | VALUE | ||||||||||||
| 7. | ||||||||||||||||
| 8. | ||||||||||||||||
| 9. | ||||||||||||||||
| 10. | ||||||||||||||||
| 11. TOTAL INVESTMENTS | $ | - | $ | - | ||||||||||||
| CASH | ||||||||||||||||
| 12. CURRENCY ON HAND | $ | - | ||||||||||||||
| 13. TOTAL CASH - END OF MONTH | $ | 34,681.70 | ||||||||||||||
Monthly Operating Report
CASH BASIS-3
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
ASSETS OF THE ESTATE
| SCHEDULE "A" | SCHEDULE | MONTH | MONTH | MONTH | MONTH | MONTH | |||||||||||||||
| REAL PROPERTY | AMOUNT | Feb 28, 2015 | Mar 31, 2015 | Apr 30,2015 | May 31,2015 | June 30,2015 | |||||||||||||||
| 1. 204 Woodhew Dr. Waco, TX 76712 | $ | 1,079,495.09 | $ | 1,079,495.09 | $ | 1,079,495.09 | $ | 1,079,495.09 | $ | 1,079,495.09 | $ | 1,079,495.09 | |||||||||
| 2. 8225 Central Park Dr. Waco, TX 76712 | $ | 1,109,143.75 | $ | 1,109,143.75 | $ | 1,109,143.75 | $ | 1,109,143.75 | $ | 1,109,143.75 | $ | 1,109,143.75 | |||||||||
| 3. | |||||||||||||||||||||
| 4. OTHER (ATTACH LIST) | |||||||||||||||||||||
| 5. TOTAL REAL PROPERTY ASSETS | $ | 2,188,638.84 | $ | 2,188,638.84 | $ | 2,188,638.84 | $ | 2,188,638.84 | $ | 2,188,638.84 | $ | 2,188,638.84 | |||||||||
| SCHEDULE "B" | |||||||||||||||||||||
| PERSONAL PROPERTY | |||||||||||||||||||||
| 1. CASH ON HAND | |||||||||||||||||||||
| 2. CHECKING, SAVINGS, ETC. | $ | 51,248.28 | $ | 59,637.28 | $ | 34,256.39 | $ | 12,603.29 | $ | 21,359.90 | $ | 34,681.70 | |||||||||
| 3. SECURITY DEPOSITS | |||||||||||||||||||||
| 4. HOUSEHOLD GOODS | |||||||||||||||||||||
| 5. BOOKS, PICTURES, ART | $ | 166,250.00 | $ | 166,250.00 | $ | 166,250.00 | $ | 166,250.00 | $ | 166,250.00 | $ | 166,250.00 | |||||||||
| 6. WEARING APPAREL | |||||||||||||||||||||
| 7. FURS AND JEWELRY | |||||||||||||||||||||
| 8. FIREARMS & SPORTS EQUIPMENT | |||||||||||||||||||||
| 9. INSURANCE POLICIES | |||||||||||||||||||||
| 10. ANNUITIES | |||||||||||||||||||||
| 11. EDUCATION | |||||||||||||||||||||
| 12. RETIREMENT & PROFIT SHARING | |||||||||||||||||||||
| 13. STOCKS | unknown | unknown | unknown | unknown | unknown | unknown | 3 | ||||||||||||||
| 14. PARTNERSHIPS & JOINT VENTURES | |||||||||||||||||||||
| 15. GOVERNMENT & CORPORATE BONDS | |||||||||||||||||||||
| 16. ACCOUNTS RECEIVABLE | $ | 76,415.22 | $ | 84,665.09 | |||||||||||||||||
| 17. ALIMONY | |||||||||||||||||||||
| 18. OTHER LIQUIDATED DEBTS | |||||||||||||||||||||
| 19. EQUITABLE INTERESTS | |||||||||||||||||||||
| 20. CONTINGENT INTERESTS | |||||||||||||||||||||
| 21. OTHER CLAIMS | |||||||||||||||||||||
| 22. PATENTS & COPYRIGHTS | |||||||||||||||||||||
| 23. LICENSES & FRANCHISES | |||||||||||||||||||||
| 24. CUSTOMER LISTS | |||||||||||||||||||||
| 25. AUTOS, TRUCKS & OTHER VEHICLES | |||||||||||||||||||||
| 26. BOATS & MOTORS | |||||||||||||||||||||
| 27. AIRCRAFT | |||||||||||||||||||||
| 28. OFFICE EQUIPMENT | |||||||||||||||||||||
| 29. MACHINERY, FIXTURES & EQUIPMENT | |||||||||||||||||||||
| 30. INVENTORY | |||||||||||||||||||||
| 31. ANIMALS | |||||||||||||||||||||
| 32. CROPS | |||||||||||||||||||||
| 33. FARMING EQUIPMENT | |||||||||||||||||||||
| 34. FARM SUPPLIES | |||||||||||||||||||||
| 35. OTHER (ATTACH LIST) | |||||||||||||||||||||
| 36. TOTAL PERSONAL PROPERTY ASSETS | $ | 293,913.50 | $ | 225,887.28 | $ | 200,506.39 | $ | 178,853.29 | $ | 187,609.90 | $ | 285,596.79 | |||||||||
| 37. TOTAL ASSETS | $ | 2,482,552.34 | $ | 2,414,526.12 | $ | 2,389,145.23 | $ | 2,367,492.13 | $ | 2,376,248.74 | $ | 2,474,235.63 | |||||||||
3 Item 13. Stocks: Value of LPI not included since financials were historically consolidated for reporting.
Monthly Operating Report
CASH BASIS-4
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | June |
LIABILITIES OF THE ESTATE
| PREPETITION | SCHEDULE | ||||||
| LIABILITIES | AMOUNT | PAYMENTS | |||||
| 1. SECURED | $ | 267,504.86 | $ | 171,441.77 | 4 | ||
| 2. PRIORITY | $ | 3,991,351.00 | |||||
| 3. UNSECURED | $ | 114,283,484.71 | |||||
| 4. OTHER (ATTACH LIST) | |||||||
| 5. TOTAL PREPETITION LIABILITIES | $ | 118,542,340.57 | $ | 171,441.77 | |||
| POSTPETITION | DATE | AMOUNT | DUE | AMOUNT | |||||||||
| LIABILITIES | INCURRED | OWED | DATE | PAST DUE | |||||||||
| 1. FEDERAL INCOME TAXES | |||||||||||||
| 2. FICA/MEDICARE | |||||||||||||
| 3. STATE TAXES | |||||||||||||
| 4. REAL ESTATE TAXES | |||||||||||||
| 5. OTHER TAXES (ATTACH LIST) | |||||||||||||
| 6. TOTAL TAXES | $ | - | $ | - | |||||||||
| OTHER POSTPETITION LIABILITIES INCLUDING TRADE CREDITORS (LIST NAMES OF CREDITORS) | 5 | ||||||||||||
| 7. Alexander Dubose Jefferson & Townsend LLP | $ | 21,197.17 | |||||||||||
| 8. AFCO (See Exhibit 2) | $ | - | |||||||||||
| 9. American Stock Transfer | $ | - | |||||||||||
| 10. Law Offices of Douglas M. Berman, PLLC | $ | 22,376.25 | |||||||||||
| 11. Kevin Buchanan & Associates, P.L.L.C. | $ | 140,235.46 | |||||||||||
| 12. Carrington, Coleman, Sloman & Blumenthal, L.L.P. | $ | 541.00 | |||||||||||
| 13. First Advantage Litigation Consulting | $ | 11,535.00 | |||||||||||
| 14. Forshey & Prostok, LLP - IOLTA | $ | 96,795.97 | |||||||||||
| 15. Horwood, Marcus & Berk | $ | 8,827.50 | |||||||||||
| 16. HSPG & Associates, PC | $ | 23,287.02 | |||||||||||
| 17. Hudson & Calleja, LLC | $ | 1,975.00 | |||||||||||
| 18. The Johnson Law Firm | $ | 6,881.90 | |||||||||||
| 19. Kyle Mathis & Lucas LLP | $ | 1,367.97 | |||||||||||
| 20. C. Alfred Mackenzie | $ | 4,792.50 | |||||||||||
| 21. Meadows Collier Attorneys at Law | $ | 16,082.47 | |||||||||||
| 22. Meyer, Unkovic & Scott LLP | $ | 2,691.14 | |||||||||||
| 23. Pronske Goolsby & Kathman, P.C. | $ | 28,617.68 | |||||||||||
| 24. Shackelford, Melton & McKinley | $ | 60.00 | |||||||||||
| 25. Shareholder.com | $ | 9,374.13 | |||||||||||
| 26. Smith, Jackson, Boyer & Bovard, PLLC | $ | 10,106.20 | |||||||||||
| 27. Squire Patton Boggs (US) LLP | $ | 4,936.22 | |||||||||||
| 28. West & Associates, L.L.P | $ | 10,165.00 | |||||||||||
| 29. Whitley Penn | $ | 61,354.63 | |||||||||||
| 29. (IF ADDITIONAL ATTACH LIST) | |||||||||||||
| 30. TOTAL OF LINES 7 - 29 | $ | 483,200.21 | $ | - | |||||||||
| 31. TOTAL POSTPETITION LIABILITIES | $ | 483,200.21 | $ | - | |||||||||
| 4 | Secured Prepetition Liability Payments were paid to AFCO on promissory note for D&O and E&O insurance as follows: |
$ 34,288.35 Payments by Life Partners Holdings, Inc.
$ 137,153.42 Payments by Life Partners, Inc. on behalf of LPHI.
| 5 | See Exhibit 2 for detail of Postpetition Liabilities. |
Monthly Operating Report
CASH BASIS-4A
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | June |
ACCOUNTS RECEIVABLE AGING
| SCHEDULE | MONTH | ||||||||||||
| AMOUNT | June 30,2015 | MONTH | MONTH | ||||||||||
| 1. 0 - 30 | $ | 76,415.22 | $ | 84,665.09 | |||||||||
| 2. 31 - 60 | |||||||||||||
| 3. 61 - 90 | |||||||||||||
| 4. 91 + | |||||||||||||
| 5. TOTAL ACCOUNTS RECEIVABLE | $ | 76,415.22 | $ | 84,665.09 | $ | - | $ | - | |||||
| 6. AMOUNT CONSIDERED UNCOLLECTIBLE | |||||||||||||
| 7. ACCOUNTS RECEIVABLE (NET) | $ | 76,415.22 | $ | 84,665.09 | $ | - | $ | - | |||||
AGING OF POSTPETITION TAXES AND PAYABLES
| 0 - 30 | 31-60 | 90+ | |||||||||||
| TAXES PAYABLE | DAYS | DAYS | DAYS | Total | |||||||||
| 1. FEDERAL | $ | - | |||||||||||
| 2. STATE | $ | - | |||||||||||
| 3. LOCAL | $ | - | |||||||||||
| 4. OTHER (ATTACH LIST) | $ | - | |||||||||||
| 5. TOTAL TAXES PAYABLE | $ | - | $ | - | $ | - | $ | - | |||||
| 6. ACCOUNTS PAYABLE | $ | 32,971.88 | $ | 12,063.00 | $ | 438,165.33 | $ | 483,200.21 | 5 | ||||
STATUS OF POSTPETITION TAXES
| BEGINNING | AMOUNT | ENDING | |||||||||||
| TAX | WITHHELD | AMOUNT | TAX | ||||||||||
| FEDERAL | LIABILITY | OR ACCRUED | PAID | LIABILITY | |||||||||
| 1. WITHHOLDING | $ | - | |||||||||||
| 2. FICA-EMPLOYEE | $ | - | |||||||||||
| 3. FICA-EMPLOYER | $ | - | |||||||||||
| 4. UNEMPLOYMENT | $ | - | |||||||||||
| 5. INCOME | $ | - | |||||||||||
| 6. OTHER (ATTACH LIST) | $ | - | |||||||||||
| 7. TOTAL FEDERAL TAXES | $ | - | $ | - | $ | - | $ | - | |||||
| STATE AND LOCAL | $ | - | |||||||||||
| 8. WITHHOLDING | $ | - | |||||||||||
| 9. SALES | $ | - | |||||||||||
| 10. EXCISE | $ | - | |||||||||||
| 11. UNEMPLOYMENT | $ | - | |||||||||||
| 12. REAL PROPERTY | $ | 27,627.04 | $ | 27,627.04 | 8 | ||||||||
| 13. PERSONAL PROPERTY | $ | - | |||||||||||
| 14. OTHER (ATTACH LIST) | $ | 150.00 | $ | 150.00 | $ | - | 9 | ||||||
| 15. TOTAL STATE & LOCAL | $ | - | $ | 27,777.04 | $ | 150.00 | $ | 27,627.04 | |||||
| 16. TOTAL TAXES | $ | - | $ | 27,777.04 | $ | 150.00 | $ | 27,627.04 | |||||
| 5 | See Exhibit 2 for detail of Postpetition Liabilities |
| 8 | Accruing for calendar 2015 taxes due at the end of the year. |
| 9 | Oregon Corporate Tax |
Monthly Operating Report
CASH BASIS-5
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | June |
PAYMENTS TO INSIDERS AND PROFESSIONALS
| INSIDERS | ||||||||||||
| NAME | TYPE OF PAYMENT | AMOUNT PAID | TTL PD TO DATE | |||||||||
| 1. | ||||||||||||
| 2. | ||||||||||||
| 3. | ||||||||||||
| 4. | ||||||||||||
| 5. | ||||||||||||
| TOTAL PAYMENTS TO INSIDERS | $ | - | $ | - | ||||||||
| PROFESSIONALS | 13 | |||||||||||||||||||
| DATE OF COURT ORDER | AMOUNT | AMOUNT | TTL PAID | TOTAL INCURRED | ||||||||||||||||
| NAME | AUTHORIZING PAYMENT | APPROVED | PAID | TO DATE | & UNPAID | |||||||||||||||
| 1. Asset Servicing Group | $ | 470,382.84 | ||||||||||||||||||
| 2. Forshey & Prostok, LLP | 04/28/15 | $ | 154,409.11 | $ | 57,613.14 | $ | 96,795.97 | 6 | ||||||||||||
| 3. Kevin Buchanan & Associates | 07/01/15 | $ | 140,235.46 | $ | 140,235.46 | |||||||||||||||
| 4. Kim Hinkle, Attorney at Law | $ | 107,000.00 | ||||||||||||||||||
| 5. MMS Advisors | $ | 36,000.00 | 12 | |||||||||||||||||
| 6. Pronske Goolsby & Kathman, P.C. | 05/05/15 | $ | 128,617.68 | $ | 100,000.00 | $ | 28,617.68 | 6 | ||||||||||||
| 7. Thompson & Knight LLP | $ | 2,850,000.00 | ||||||||||||||||||
| 8. Tom Moran, US Trustee | $ | 228,800.00 | ||||||||||||||||||
| 9. Munsch, Hardt, Kopf & Harr,P.C. | $ | 760,953.15 | ||||||||||||||||||
| 10. Bridgepoint Consulting | $ | 70,391.90 | ||||||||||||||||||
| 11. Epiq Bankruptcy Solutions | $ | 483,213.96 | ||||||||||||||||||
| TOTAL PAYMENTS TO PROFESSIONALS | $ | 423,262.25 | $ | - | $ | 157,613.14 | $ | 5,272,390.96 | ||||||||||||
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
| SCHEDULED | AMOUNTS | TOTAL | ||||||||||
| MONTHLY | PAID | UNPAID | ||||||||||
| PAYMENTS | DURING | POST- | ||||||||||
| NAME OF CREDITOR | DUE | MONTH | PETITION | |||||||||
| 1. BankDirect Capital Finance | $ | 1,104.82 | $ | 1,104.82 | $ | 8,654.16 | ||||||
| 2. | ||||||||||||
| 3. | ||||||||||||
| 4. | ||||||||||||
| 5. | ||||||||||||
| 6. TOTAL | $ | 1,104.82 | $ | 1,104.82 | $ | 8,654.16 | ||||||
| 6 | The payments reflected here are retainers paid in prior months by Life Partners, Inc. |
| 12 | MMS Advisors incurred fees and expenses March-June 30th in the estimated amount of $342,000.00, however, their retention was approved beginning as of June 11th, so only a portion of this amount is reflected above. |
| 13 | Professional fees and expenses estimated and accrued prior to May 19th are reflected only on the books of Life Partners Holdings, Inc. Thereafter, professional fees and expenses reflect the estimated aggregate, unallocated fees and expenses for all of the Debtors, and are noted on each of the Debtors MORs. |
Monthly Operating Report
CASH BASIS-6
2015
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | June |
QUESTIONNAIRE
| YES | NO | |||||
| 1. | HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? | X | ||||
| 2. | HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? | X | ||||
| 3. | ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES OR LOANS) DUE FROM RELATED PARTIES? | X | ||||
| 4. | HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? | X | ||||
| 5. | HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? | X | ||||
| 6. | ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? | X | ||||
| 7. | ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? | X | ||||
| 8. | ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? | X | ||||
| 9. | ARE ANY OTHER POSTPETITION TAXES PAST DUE? | X | ||||
| 10. | ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? | X | ||||
| 11. | HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? | X | ||||
| 12. | ARE ANY WAGE PAYMENTS PAST DUE? | X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES"; PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
Questionnaire Item 2. Certain expenses of LPHI were paid by LPI. See Exhibit 1.
Questionnaire Item 4. Approval of Motion for relief from automatic stay to pay AFCO for D&O insurance at 2/9/15 Hearing; See Exhibit 1 showing monthly payment made by LPI.
Questionnaire Item 5. Bank Direct Capital Finance agreement for Cyber Risk Policy from Beazley Insurance.
Questionnaire Item 10. Past Due amounts are mainly professional fees incurred after the filing date. See Exhibit 2.
INSURANCE
| YES | NO | |||||
| 1. | ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? | X | ||||
| 2. | ARE ALL PREMIUM PAYMENTS PAID CURRENT? | X | ||||
| 3. | PLEASE ITEMIZE POLICIES BELOW | X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO" OR IF ANY POLICIES HAVE BEEN CANCELED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSTALLMENT PAYMENTS
| TYPE OF | PERIOD | PAYMENT AMOUNT | ||||||
| POLICY | CARRIER | COVERED | & FREQUENCY | |||||
| Directors & Officers | Illinois National | 09/01/14 - 08/31/15 | ||||||
| Errors & Omissions | Indian Habor | 09/01/14 - 08/31/15 | ||||||
| Total for Financed thru AFCO | $ | 34,288.35 /mo. | ||||||
| Commercial Package* | Allied | 06/14/14 - 06/13/15 | $ | 1,058.43 /mo. | 10 | |||
| Commercial Package* | Allied | 06/14/15 - 06/13/16 | $ | 1,073.07 /mo. | ||||
| Commercial Fine Arts | Travelers Lloyds Ins. | 06/14/15 - 06/14/16 | $ | 285.10 /mo. | ||||
| Cyber Liability | Beazley Insurance | 05/12/15 - 06/12/16 | $ | 1,104.82 /mo. | ||||
*includes auto, building, edp, excess liability
| 10 | This obligation has been paid in full. |
| Life Partners Holdings Inc | Exhibit 1 |
| Distributions made by Life Partners, Inc. for LPHI Obligations | |
| Period Ending 6/30/15 |
| Number | Date Paid | Vendor | Paid by | Amount Paid | Purpose | |||||||
| American Express | 5/18/2015 | Vintage Filings | LPI credit card | $ | 236.00 | File 8-K *** | ||||||
| American Express | 5/29/2015 | Vintage Filings | LPI credit card | $ | 236.00 | File 8-K *** | ||||||
| wire | 6/1/2015 | AFCO | LPI wire | $ | 34,288.36 | Insurance Payment | ||||||
| Total Paid | $ | 34,524.36 | ||||||||||
*** These items were applied against LPI's credit balance with American Express. The date shown here is the date the expense was incurred
| Date: | |
| Time: User: | |
| Friday, July 17, 2015 | EXHIBIT 2 |
| 07:56AM BSTRIPLING |
DIP - LPHI
Period Sensitive Aged AP - Detail
Period: 04-16 As of: 6/30/2015
Page:
Report:
Company:
1 of 5
03681d.rpt
20
| Vendor Ref | Master | Doc | Vendor/Doc | ||||||||||||
| Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Stat | Disc Date | Due Date | Pay Date | Current | 1 To 30 | Days Past Due 31 To 60 | 61 To 90 | Over 90 | Balance | |
| Company: | 20 | ||||||||||||||
| AFCO00 | AFCO | A | |||||||||||||
| 234244 | 04-99324733- | VO | A | 6/1/2015 | 5/21/2015 | 0.00 | 34,288.36 | 0.00 | 0.00 | 0.00 | 34,288.36 | ||||
| 234284 | 04-99324733- | AD | A | 6/1/2015 | 0.00 | -34,288.36 | 0.00 | 0.00 | 0.00 | -34,288.36 | |||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||
| ALEX00 | Alexander Dubose Jefferson & T | A | |||||||||||||
| 233293 | 6287 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 317.17 | 317.17 | ||||
| 233294 | 6288 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 12,100.00 | 12,100.00 | ||||
| 233295 | 6288 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 7,080.00 | 7,080.00 | ||||
| 234017 | 6291 | VO | A | 4/22/2015 | 4/22/2015 | 0.00 | 0.00 | 0.00 | 13,140.00 | 0.00 | 13,140.00 | ||||
| 234028 | Rev6288 | AD | A | 4/24/2015 | 0.00 | 0.00 | 0.00 | -12,100.00 | 0.00 | -12,100.00 | |||||
| 234029 | Rev6288 | AD | A | 4/24/2015 | 0.00 | 0.00 | 0.00 | -7,080.00 | 0.00 | -7,080.00 | |||||
| 234030 | 6291 | VO | A | 4/24/2015 | 4/24/2015 | 0.00 | 0.00 | 0.00 | 7,080.00 | 0.00 | 7,080.00 | ||||
| 234031 | 6353 | VO | A | 4/24/2015 | 4/24/2015 | 0.00 | 0.00 | 0.00 | 660.00 | 0.00 | 660.00 | ||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 1,700.00 | 19,497.17 | 21,197.17 | |||||||||
| BERM00 | Law Offices of Douglas M. Berm | A | |||||||||||||
| 232202 | LP01-21-2015 | VO | A | 3/1/2015 | 3/1/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 4,712.50 | 4,712.50 | ||||
| 233297 | LP-02-2015 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 11,293.75 | 11,293.75 | ||||
| 233552 | LP-03-2015 | VO | A | 4/8/2015 | 4/8/2015 | 0.00 | 0.00 | 0.00 | 6,370.00 | 0.00 | 6,370.00 | ||||
| 233556 | Retnr-LP-01-2 | AD | A | 4/8/2015 | 0.00 | 0.00 | 0.00 | -4,712.50 | 0.00 | -4,712.50 | |||||
| 233558 | RetnrLP-02-20 | AD | A | 4/8/2015 | 0.00 | 0.00 | 0.00 | -656.25 | 0.00 | -656.25 | |||||
| 234079 | RevRetrLP-01 | VO | A | 4/8/2015 | 4/8/2015 | 0.00 | 0.00 | 0.00 | 4,712.50 | 0.00 | 4,712.50 | ||||
| 234080 | RetnrLP-02-20 | VO | A | 4/8/2015 | 4/8/2015 | 0.00 | 0.00 | 0.00 | 656.25 | 0.00 | 656.25 | ||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 6,370.00 | 16,006.25 | 22,376.25 | |||||||||
| BUCH00 | Kevin Buchanan & Associates, P | A | |||||||||||||
| 232832 | 1355 | VO | A | 1/31/2015 | 1/31/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 26,947.75 | 26,947.75 | ||||
| 234659 | Rev1355 | AD | A | 1/31/2015 | 0.00 | 0.00 | 0.00 | 0.00 | -26,947.75 | -26,947.75 | |||||
| 234660 | 1382 | VO | A | 5/11/2015 | 5/11/2015 | 0.00 | 0.00 | 31,949.00 | 0.00 | 0.00 | 31,949.00 | ||||
| Date: | |
| Time: User: | |
| Friday, July 17, 2015 | EXHIBIT 2 |
| 07:56AM BSTRIPLING |
DIP - LPHI
Period Sensitive Aged AP - Detail
Period: 04-16 As of: 6/30/2015
Page:
Report:
Company:
2 of 5
03681d.rpt
20
| Vendor Ref | Master | Doc | Vendor/Doc | ||||||||||||
| Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Stat | Disc Date | Due Date | Pay Date | Current | 1 To 30 | Days Past Due 31 To 60 | 61 To 90 | Over 90 | Balance | |
| 234661 | 1382 | VO | A | 5/11/2015 | 5/11/2015 | 0.00 | 0.00 | 105,546.96 | 0.00 | 0.00 | 105,546.96 | ||||
| 234662 | 1382 | VO | A | 5/11/2015 | 5/11/2015 | 0.00 | 0.00 | 7,459.00 | 0.00 | 0.00 | 7,459.00 | ||||
| 234663 | 1382-Doc561 | AD | A | 5/11/2015 | 0.00 | 0.00 | -4,719.50 | 0.00 | 0.00 | -4,719.50 | |||||
| Vendor Total | 0.00 | 0.00 | 140,235.46 | 0.00 | 0.00 | 140,235.46 | |||||||||
| CARR06 | Carrington, Coleman, Sloman & | A | |||||||||||||
| 232849 | 317854 | VO | A | 2/13/2015 | 2/13/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 541.00 | 541.00 | ||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 541.00 | 541.00 | |||||||||
| FIRS08 | First Advantage Litigation Con | ||||||||||||||
| 233304 | 14602 | VO | A | 3/30/2015 | 3/30/2015 | 3/30/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 11,535.00 | 11,535.00 | |||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 11535.00 | 11,535.00 | |||||||||
| FORS00 | Forshey & Prostok, LLP - IOLTA | A | |||||||||||||
| 233290 | 28681-Jan15 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 78,075.53 | 78,075.53 | ||||
| 233291 | 28681-Feb15 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 59,822.90 | 59,822.90 | ||||
| 233292 | 28681-Mar15 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 1,807.50 | 1,807.50 | ||||
| 234629 | Doc303-28681 | AD | A | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | -42,909.96 | -42,909.96 | |||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 96,795.97 | 96,795.97 | |||||||||
| HORW00 | Horwood, Marcus & Berk | A | |||||||||||||
| 233305 | 385452 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 105.00 | 105.00 | ||||
| 233935 | 387204 | VO | A | 4/22/2015 | 4/22/2015 | 0.00 | 0.00 | 0.00 | 3,152.50 | 0.00 | 3,152.50 | ||||
| 234276 | 389426 | VO | A | 6/2/2015 | 6/2/2015 | 0.00 | 5,357.50 | 0.00 | 0.00 | 0.00 | 5,357.50 | ||||
| 234423 | 391018 | VO | A | 6/25/2015 | 6/25/2015 | 0.00 | 212.50 | 0.00 | 0.00 | 0.00 | 212.50 | ||||
| Vendor Total | 0.00 | 5,570.00 | 0.00 | 3,152.50 | 105.00 | 8,827.50 | |||||||||
| HSPG00 | HSPG & Associates, PC | A | |||||||||||||
| 232726 | 15-007 | VO | A | 2/7/2015 | 2/7/2015 | 2/7/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 3,786.75 | 3,786.75 | |||
| 233113 | 15-024 | VO | A | 3/6/2015 | 3/6/2015 | 3/6/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 18,699.57 | 18,699.57 | |||
| 233114 | 15-007 | AD | A | 2/7/2015 | 2/7/2015 | 0.00 | 0.00 | 0.00 | 0.00 | -3,786.75 | -3,786.75 | ||||
| 233869 | 15-041 | VO | A | 4/3/2015 | 4/3/2015 | 4/3/2015 | 0.00 | 0.00 | 0.00 | 4,587.45 | 0.00 | 4,587.45 | |||
| Vendor Total | 0.00 | 0.00 | 0.00 | 4,587.45 | 18,699.57 | 23,287.02 | |||||||||
| HUDS00 | Hudson & Calleja, LLC | A | |||||||||||||
| Date: | |
| Time: User: | |
| Friday, July 17, 2015 | EXHIBIT 2 |
| 07:56AM BSTRIPLING |
DIP - LPHI
Period Sensitive Aged AP - Detail
Period: 04-16 As of: 6/30/2015
Page:
Report:
Company:
3 of 5
03681d.rpt
20
| Vendor Ref | Master | Doc | Vendor/Doc | ||||||||||||
| Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Stat | Disc Date | Due Date | Pay Date | Current | 1 To 30 | Days Past Due 31 To 60 | 61 To 90 | Over 90 | Balance | |
| 233306 | 5537 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 1,685.00 | 1,685.00 | ||||
| 233307 | 5537 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 290.00 | 290.00 | ||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 1,975.00 | 1,975.00 | |||||||||
| JOHN14 | The Johnson Law Firm | A | |||||||||||||
| 233300 | 2 | VO | A | 3/4/2015 | 3/4/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 5,995.00 | 5,995.00 | ||||
| 233303 | 3 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 886.90 | 886.90 | ||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 6,881.90 | 6,881.90 | |||||||||
| KYLE00 | Kyle Mathis & Lucas LLP | A | |||||||||||||
| 233296 | 14104 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 492.66 | 492.66 | ||||
| 233299 | 14084 | VO | A | 3/4/2015 | 3/4/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 875.31 | 875.31 | ||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 1,367.97 | 1,367.97 | |||||||||
| MACK00 | C. Alfred Mackenzie | A | |||||||||||||
| 233115 | LPHI LegalMa | VO | A | 3/9/2015 | 3/9/2015 | 3/9/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 3,802.50 | 3,802.50 | |||
| 233116 | LPHI LegalMa | VO | A | 3/9/2015 | 3/9/2015 | 3/9/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 990.00 | 990.00 | |||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 4,792.50 | 4,792.50 | |||||||||
| MEAD01 | Meadows Collier Attorneys at L | A | |||||||||||||
| 233120 | 128856 | VO | A | 3/19/2015 | 3/19/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 10,101.19 | 10,101.19 | ||||
| 233553 | 129135 | VO | A | 4/8/2015 | 4/8/2015 | 0.00 | 0.00 | 0.00 | 3,245.28 | 0.00 | 3,245.28 | ||||
| 234223 | 129492 | VO | A | 5/19/2015 | 5/19/2015 | 0.00 | 0.00 | 1,995.00 | 0.00 | 0.00 | 1,995.00 | ||||
| 234654 | 130671 | VO | A | 7/13/2015 | 7/13/2015 | 741.00 | 0.00 | 0.00 | 0.00 | 0.00 | 741.00 | ||||
| Vendor Total | 741.00 | 0.00 | 1,995.00 | 3,245.28 | 10,101.19 | 16,082.47 | |||||||||
| MEYE00 | Meyer, Unkovic & Scott LLP | A | |||||||||||||
| 231927 | 1223264 | VO | A | 3/7/2015 | 3/7/2015 | 3/7/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 257.50 | 257.50 | |||
| 233298 | 1224475 | VO | A | 4/16/2015 | 4/16/2015 | 4/16/2015 | 0.00 | 0.00 | 0.00 | 2,433.64 | 0.00 | 2,433.64 | |||
| Vendor Total | 0.00 | 0.00 | 0.00 | 2,433.64 | 257.50 | 2,691.14 | |||||||||
| PRON00 | Pronske, Goolsby & Kathman, PC | A | |||||||||||||
| 234645 | Statement 201 | VO | A | 7/9/2015 | 7/9/2015 | 108,615.83 | 0.00 | 0.00 | 0.00 | 0.00 | 108,615.83 | ||||
| 234646 | Statement 202 | VO | A | 7/9/2015 | 7/9/2015 | 18,001.85 | 0.00 | 0.00 | 0.00 | 0.00 | 18,001.85 | ||||
| Date: | |
| Time: User: | |
| Friday, July 17, 2015 | EXHIBIT 2 |
| 07:56AM BSTRIPLING |
DIP - LPHI
Period Sensitive Aged AP - Detail
Period: 04-16 As of: 6/30/2015
Page:
Report:
Company:
4 of 5
03681d.rpt
20
| Vendor Ref | Master | Doc | Vendor/Doc | ||||||||||||
| Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Stat | Disc Date | Due Date | Pay Date | Current | 1 To 30 | Days Past Due 31 To 60 | 61 To 90 | Over 90 | Balance | |
| 234647 | FeeApplicatio | VO | A | 7/9/2015 | 7/9/2015 | 2,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2,000.00 | ||||
| 234649 | ApplyRetnr | AD | A | 7/10/2015 | -100,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | -100,000.00 | |||||
| Vendor Total | 28,617.68 | 0.00 | 0.00 | 0.00 | 0.00 | 28,617.68 | |||||||||
| SHAC00 | Shackelford, Melton & McKinley | A | |||||||||||||
| 233118 | 174733 | VO | A | 4/09/2015 | 4/09/2015 | 4/09/2015 | 0.00 | 0.00 | 0.00 | 60.00 | 0.00 | 60.00 | |||
| Vendor Total | 0.00 | 0.00 | 0.00 | 60.00 | 0.00 | 60.00 | |||||||||
| SHAR03 | Shareholder.com | A | |||||||||||||
| 232029 | 0115SHAR16 | VO | A | 2/27/2015 | 2/27/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 4,388.33 | 4,388.33 | ||||
| 234077 | 0115shar1619 | AD | A | 2/27/2015 | 0.00 | 0.00 | 0.00 | 0.00 | -4,388.33 | -4,388.33 | |||||
| 234495 | 0115SHAR16 | VO | A | 3/1/2015 | 3/1/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 3,749.65 | 3,749.65 | ||||
| 234496 | 0415SHAR22 | VO | A | 5/17/2015 | 5/17/2015 | 0.00 | 0.00 | 5,624.48 | 0.00 | 0.00 | 5,624.48 | ||||
| Vendor Total | 0.00 | 0.00 | 5,624.48 | 0.00 | 3,749.65 | 9,374.13 | |||||||||
| SMIT04 | Smith, Jackson, Boye r & Bovard | A | |||||||||||||
| 234424 | 56906 | VO | A | 6/25/2015 | 6/25/2015 | 0.00 | 6,493.00 | 0.00 | 0.00 | 0.00 | 6,493.00 | ||||
| 234655 | 57203 | VO | A | 7/13/2015 | 7/13/2015 | 3,613.20 | 0.00 | 0.00 | 0.00 | 0.00 | 3,613.20 | ||||
| Vendor Total | 3,613.20 | 6,493.00 | 0.00 | 0.00 | 0.00 | 10,106.20 | |||||||||
| SQUI01 | Squire Patton Boggs (US) LLP | A | |||||||||||||
| 233301 | 10426961 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 2,912.22 | 2,912.22 | ||||
| 233302 | 10426961 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 2,024.00 | 2,024.00 | ||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 4,936.22 | 4,936.22 | |||||||||
| WEST12 | West & Associates, L.L.P | A | |||||||||||||
| 232850 | 15249 | VO | A | 2/17/2015 | 2/17/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 6,927.50 | 6,927.50 | ||||
| 232851 | 15249-ApplyR | AD | A | 2/17/2015 | 0.00 | 0.00 | 0.00 | 0.00 | -4,750.77 | -4,750.77 | |||||
| 233310 | 15301 | VO | A | 3/24/2015 | 3/24/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 3,237.50 | 3,237.50 | ||||
| 234078 | 15249RevRet | VO | A | 2/17/2015 | 2/17/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 4,750.77 | 4,750.77 | ||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 10,165.00 | 10,165.00 | |||||||||
| WHIT03 | Whitley Penn | A | |||||||||||||
| 232727 | 226512 | VO | A | 2/09/2015 | 2/09/2015 | 2/09/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 1,007.00 | 1,007.00 | |||
| Date: | |
| Time: User: | |
| Friday, July 17, 2015 | EXHIBIT 2 |
| 07:56AM BSTRIPLING |
DIP - LPHI
Period Sensitive Aged AP - Detail
Period: 04-16 As of: 6/30/2015
Page:
Report:
Company:
5 of 5
03681d.rpt
20
| Vendor Ref | Master | Doc | Vendor/Doc | ||||||||||||
| Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Stat | Disc Date | Due Date | Pay Date | Current | 1 To 30 | Days Past Due 31 To 60 | 61 To 90 | Over 90 | Balance | |
| 232728 | 227700 | VO | A | 2/18/2015 | 2/18/2015 | 2/18/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 2,442.13 | 2,442.13 | |||
| 233119 | 228161 | VO | A | 3/9/2015 | 3/9/2015 | 3/9/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 50,888.00 | 50,888.00 | |||
| 233121 | 228588 | VO | A | 3/16/2015 | 3/16/2015 | 3/16/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 1,900.00 | 1,900.00 | |||
| 234059 | 232198 | VO | A | 4/23/2015 | 4/23/2015 | 4/23/2015 | 0.00 | 0.00 | 0.00 | 5,100.00 | 0.00 | 5,100.00 | |||
| 234115 | Finance Chg | VO | A | 4/23/2015 | 4/23/2015 | 4/23/2015 | 0.00 | 0.00 | 0.00 | 17.50 | 0.00 | 17.50 | |||
| Vendor Total | 0.00 | 0.00 | 0.00 | 5,117.50 | 56,237.13 | 61,354.63 | |||||||||
| Company Total | 32,971.88 | 12,063.00 | 147,854.94 | 26,666.37 | 263,644.02 | 483,200.21 | |||||||||
| Life Partners Holdings, Inc. | Exhibit 3 |
| List of Other Receipts and Disbursements |
| Feb 28,2015 | Mar 31,2015 | Apr 30,2015 | May 31,2015 | June 30,2015 | ||||||||||||||||
| Amount | Amount | Amount | Amount | Amount | ||||||||||||||||
| Receipts from: | ||||||||||||||||||||
| Interest Earned | $ | 12.43 | $ | 0.21 | ||||||||||||||||
| Funds transferred from LPI Acct in error** | $ | 61,398.28 | ||||||||||||||||||
| Total Other Receipts | $ | 12.43 | $ | 0.21 | $ | - | $ | 61,398.28 | $ | - | ||||||||||
| Disbursements In Payment of: | ||||||||||||||||||||
| Outside Services | $ | 17,267.05 | ||||||||||||||||||
| Temporary Security Services | $ | 5,378.67 | ||||||||||||||||||
| Business Wire Fees | $ | 3,950.00 | ||||||||||||||||||
| Registrar & Transfer Fees | $ | 1,050.00 | $ | 5,300.00 | ||||||||||||||||
| Filing Fees | $ | 738.00 | $ | 161.00 | ||||||||||||||||
| Logo/Trademark Renewal | $ | 400.00 | ||||||||||||||||||
| Title Letters for buildings | $ | 324.76 | ||||||||||||||||||
| Domain Renewal | $ | 123.95 | ||||||||||||||||||
| Bank Acct Analysis Fee | $ | 25.00 | $ | 34.32 | $ | 29.22 | $ | 27.96 | $ | 274.56 | ||||||||||
| Other Bank Charges | $ | 6.00 | ||||||||||||||||||
| Return Funds to LPI wired in error** | $ | 61,398.28 | ||||||||||||||||||
| Total Other Disbursements | $ | 1,075.00 | $ | 34.32 | $ | 28,211.65 | $ | 61,587.24 | $ | 5,580.56 | ||||||||||
** These are related transactions. Funds being transferred from LPI's Bank of America account 0952 to their Bank of Texas account were incorrectly wired to LPHI's account.
Exhibit 99.14
Monthly Operating Report
CASH BASIS
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-41995 |
| JUDGE: | Russell Nelms |
UNITED STATES BANKRUPTCY COURT
NORTHERN & EASTERN DISTRICTS OF TEXAS
REGION 6
MONTHLY OPERATING REPORT
| MONTH ENDING: | June | 2015 | *Includes 5/19/15 to 5/31/15 | |
| MONTH | YEAR |
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (CASH BASIS-1 THROUGH CASH BASIS-6) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT, AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
RESPONSIBLE PARTY:
| /s/ H. Thomas Moran II | Trustee | |
| ORIGINAL SIGNATURE OF RESPONSIBLE PARTY | TITLE | |
| H. Thomas Moran II | 7/20/2015 | |
| PRINTED NAME OF RESPONSIBLE PARTY | DATE | |
| PREPARER: | ||
| /s/ Colette Pieper | CEO | |
| ORIGINAL SIGNATURE OF PREPARER | TITLE | |
| Colette Pieper | 7/20/2015 | |
| PRINTED NAME OF PREPARER | DATE |
Monthly Operating Report
CASH BASIS-1
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-41995 |
| CASH RECEIPTS AND | May 19, 2015 to | |||||||||||||||
| DISBURSEMENTS | Jun 30, 2015 | |||||||||||||||
| 1. CASH - BEGINNING OF MONTH | $ | 397,375.68 | ||||||||||||||
| RECEIPTS | ||||||||||||||||
| 2. CASH SALES | ||||||||||||||||
| 3. ACCOUNTS RECEIVABLE COLLECTIONS | $ | 2,868.22 | ||||||||||||||
| 4. LOANS AND ADVANCES | ||||||||||||||||
| 5. SALE OF ASSETS | ||||||||||||||||
| 6. LEASE & RENTAL INCOME | ||||||||||||||||
| 7. WAGES | 9 | |||||||||||||||
| 8. OTHER (ATTACH LIST) | $ | 655,093.16 | ||||||||||||||
| 9. TOTAL RECEIPTS | $ | 657,961.38 | ||||||||||||||
| DISBURSEMENTS | ||||||||||||||||
| 10. NET PAYROLL | $ | 704.01 | ||||||||||||||
| 11. PAYROLL TAXES PAID | $ | 35,120.80 | ||||||||||||||
| 12. SALES,USE & OTHER TAXES PAID | $ | 2,300.00 | ||||||||||||||
| 13. INVENTORY PURCHASES | ||||||||||||||||
| 14. MORTAGE PAYMENTS | ||||||||||||||||
| 15. OTHER SECURED NOTE PAYMENTS | ||||||||||||||||
| 16. RENTAL & LEASE PAYMENTS | $ | 14,623.13 | ||||||||||||||
| 17. UTILITIES | $ | 13,980.31 | ||||||||||||||
| 18. INSURANCE | $ | 86,545.94 | 1 | |||||||||||||
| 19. VEHICLE EXPENSES | ||||||||||||||||
| 20. TRAVEL | $ | 1,795.53 | ||||||||||||||
| 21. ENTERTAINMENT | ||||||||||||||||
| 22. REPAIRS & MAINTENANCE | $ | 6,746.38 | ||||||||||||||
| 23. SUPPLIES | $ | 829.51 | ||||||||||||||
| 24. ADVERTISING | ||||||||||||||||
| 25. HOUSEHOLD EXPENSES | ||||||||||||||||
| 26. CHARITABLE CONTRIBUTIONS | ||||||||||||||||
| 27. GIFTS | ||||||||||||||||
| 28. OTHER (ATTACH LIST) | $ | 627,459.34 | 9 | |||||||||||||
| 29. TOTAL ORDINARY DISBURSEMENTS | $ | 790,104.95 | ||||||||||||||
| REORGANIZATION EXPENSES | ||||||||||||||||
| 30. PROFESSIONAL FEES | ||||||||||||||||
| 31. U.S. TRUSTEE FEES | ||||||||||||||||
| 32. OTHER (ATTACH LIST) | ||||||||||||||||
| 33. TOTAL REORGANIZATION EXPENSES | $ | - | ||||||||||||||
| 34. TOTAL DISBURSEMENTS | $ | 790,104.95 | ||||||||||||||
| 35. NET CASH FLOW | $ | (132,143.57 | ) | |||||||||||||
| 36. CASH - END OF MONTH | $ | 265,232.11 | ||||||||||||||
1 See Exhibit 1 for disbursements by LPI, Inc. on behalf of LPHI
9 See Exhibit 5 for attached list of Item 8. Other receipts and Item 28. Other disbursements.
Monthly Operating Report
CASH BASIS-1A
2015
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-41995 |
| CASH DISBURSEMENTS DETAIL | MONTH: | June |
CASH DISBURSEMENTS
| DATE | PAYEE | PURPOSE | AMOUNT | |||||||||
| TOTAL CASH DISBURSEMENTS | $ | - | ||||||||||
BANK ACCOUNT DISBURSEMENTS
| CK# | DATE | PAYEE | PURPOSE | AMOUNT | ||||||||
| SEE EXHIBIT 1 | $ | 790,104.95 | ||||||||||
| TOTAL BANK ACCOUNT DISBURSEMENTS | $ | 790,104.95 | ||||||||||
| TOTAL DISBURSEMENTS FOR THE MONTH | $ | 790,104.95 | ||||||||||
1 Attached Exhibit 1 lists all disbursements by LPI, Inc. on behalf of LPHI
Monthly Operating Report
CASH BASIS-2
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-41995 |
BANK RECONCILIATIONS
| Acct #1 | Acct #2 | Acct #3 | ||||||||||||||
| A. BANK: | Bank of Texas | Bank of Texas | ||||||||||||||
| B. ACCOUNT NUMBER: | 4080 | 4091 | ||||||||||||||
| C. PURPOSE (TYPE): | Checking | Checking | TOTAL | |||||||||||||
| 1. BALANCE PER BANK STATEMENT | $ | 81,916.09 | $ | 121,613.76 | $ | 203,529.85 | ||||||||||
| 2. ADD: TOTAL DEPOSITS NOT CREDITED | $ | - | ||||||||||||||
| 3. SUBTRACT: OUTSTANDING CHECKS | $ | 9,934.10 | $ | 30,932.62 | $ | 40,866.72 | ||||||||||
| 4. OTHER RECONCILING ITEMS | $ | - | ||||||||||||||
| 5. MONTH END BALANCE PER BOOKS | $ | 71,981.99 | $ | 90,681.14 | $ | - | $ | 162,663.13 | ||||||||
| 6. NUMBER OF LAST CHECK WRITTEN | 1051 | 1008 | ||||||||||||||
INVESTMENT ACCOUNTS
| DATE OF | TYPE OF | CURRENT | ||||||||||||||
| BANK, ACCOUNT NAME & NUMBER | PURCHASE | INSTRUMENT | VALUE | |||||||||||||
| 7. TD Bank, Life Partners, Inc. Acct 70-T202-01-2 | Unknown | CD | $ | 101,568.98 | ||||||||||||
| 8. | ||||||||||||||||
| 9. | ||||||||||||||||
| 10. | ||||||||||||||||
| 11. TOTAL INVESTMENTS | $ | 101,568.98 | ||||||||||||||
| CASH | ||||||||||||||||
| 12. CURRENCY ON HAND | $ | 1,000.00 | ||||||||||||||
| 13. TOTAL CASH - END OF MONTH | $ | 265,232.11 | ||||||||||||||
Monthly Operating Report
CASH BASIS-3
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-41995 |
| ASSETS OF THE ESTATE | |
| SCHEDULE "A" | SCHEDULE | MONTH | ||||||||||||||
| REAL PROPERTY | AMOUNT | June 30,2015 | MONTH | MONTH | ||||||||||||
| 1. NONE | ||||||||||||||||
| 2. | ||||||||||||||||
| 3. | ||||||||||||||||
| 4. OTHER (ATTACH LIST) | ||||||||||||||||
| 5. TOTAL REAL PROPERTY ASSETS | $ | - | $ | - | $ | - | $ | - | ||||||||
| SCHEDULE "B" | ||||||||||||||||
| PERSONAL PROPERTY | ||||||||||||||||
| 1. CASH ON HAND | $ | 1,000.00 | $ | 1,000.00 | ||||||||||||
| 2. CHECKING, SAVINGS, ETC. | $ | 396,375.68 | $ | 264,232.11 | ||||||||||||
| 3. SECURITY DEPOSITS | $ | 200,000.00 | $ | 854.77 | ||||||||||||
| 4. HOUSEHOLD GOODS | ||||||||||||||||
| 5. BOOKS, PICTURES, ART | $ | 662,950.00 | $ | 662,950.00 | ||||||||||||
| 6. WEARING APPAREL | ||||||||||||||||
| 7. FURS AND JEWELRY | ||||||||||||||||
| 8. FIREARMS & SPORTS EQUIPMENT | ||||||||||||||||
| 9. INSURANCE POLICIES | unknown | unknown | ||||||||||||||
| 10. ANNUITIES | ||||||||||||||||
| 11. EDUCATION | ||||||||||||||||
| 12. RETIREMENT & PROFIT SHARING | ||||||||||||||||
| 13. STOCKS | unknown | unknown | ||||||||||||||
| 14. PARTNERSHIPS & JOINT VENTURES | $ | - | $ | - | ||||||||||||
| 15. GOVERNMENT & CORPORATE BONDS | ||||||||||||||||
| 16. ACCOUNTS RECEIVABLE | $ | 74,313,955.94 | $ | 74,348,480.30 | ||||||||||||
| 17. ALIMONY | ||||||||||||||||
| 18. OTHER LIQUIDATED DEBTS | $ | 13,667,960.11 | $ | 13,797,605.80 | ||||||||||||
| 19. EQUITABLE INTERESTS | ||||||||||||||||
| 20. CONTINGENT INTERESTS | ||||||||||||||||
| 21. OTHER CLAIMS | unknown | unknown | ||||||||||||||
| 22. PATENTS & COPYRIGHTS | unknown | unknown | ||||||||||||||
| 23. LICENSES & FRANCHISES | unknown | unknown | ||||||||||||||
| 24. CUSTOMER LISTS | unknown | unknown | ||||||||||||||
| 25. AUTOS, TRUCKS & OTHER VEHICLES | $ | 4,131.00 | $ | 4,131.00 | ||||||||||||
| 26. BOATS & MOTORS | ||||||||||||||||
| 27. AIRCRAFT | $ | 183,244.61 | $ | 183,244.61 | ||||||||||||
| 28. OFFICE EQUIPMENT | unknown | unknown | ||||||||||||||
| 29. MACHINERY, FIXTURES & EQUIPMENT | $ | 112,295.93 | $ | 112,295.93 | ||||||||||||
| 30. INVENTORY | ||||||||||||||||
| 31. ANIMALS | ||||||||||||||||
| 32. CROPS | ||||||||||||||||
| 33. FARMING EQUIPMENT | ||||||||||||||||
| 34. FARM SUPPLIES | ||||||||||||||||
| 35. OTHER (ATTACH LIST) | $ | 143,386.74 | $ | 131,827.25 | 3 | |||||||||||
| 36. TOTAL PERSONAL PROPERTY ASSETS | $ | 89,685,300.01 | $ | 89,506,621.77 | $ | - | $ | - | ||||||||
| 37. TOTAL ASSETS | $ | 89,685,300.01 | $ | 89,506,621.77 | $ | - | $ | - | ||||||||
2 Item 13. Stocks: Value of LPI Financial Services not included since financials were historically consolidated for reporting.
3 Item 35. Other: See Exhibit 2 for list.
Monthly Operating Report
CASH BASIS-4
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-41995 |
| MONTH: | June |
LIABILITIES OF THE ESTATE
| PREPETITION | SCHEDULE | |||||||||||||||
| LIABILITIES | AMOUNT | PAYMENTS | ||||||||||||||
| 1. SECURED | unknown | |||||||||||||||
| 2. PRIORITY | unknown | |||||||||||||||
| 3. UNSECURED | $ | 9,203,449.82 | $ | 6,881.15 | 6 & 7 | |||||||||||
| 4. OTHER (ATTACH LIST) | ||||||||||||||||
| 5. TOTAL PREPETITION LIABILITIES | $ | 9,203,449.82 | $ | 6,881.15 | ||||||||||||
| POSTPETITION | DATE | AMOUNT | DUE | AMOUNT | ||||||||||||
| LIABILITIES | INCURRED | OWED | DATE | PAST DUE | ||||||||||||
| 1. FEDERAL INCOME TAXES | ||||||||||||||||
| 2. FICA/MEDICARE | ||||||||||||||||
| 3. STATE TAXES | ||||||||||||||||
| 4. REAL ESTATE TAXES | ||||||||||||||||
| 5. OTHER TAXES (ATTACH LIST) | ||||||||||||||||
| 6. TOTAL TAXES | $ | - | $ | - | ||||||||||||
| OTHER POSTPETITION LIABILITIES INCLUDING TRADE CREDITORS (LIST NAMES OF CREDITORS) 4 | ||||||||||||||||
| 7. Allison Enterprises, Inc. | $ | 38.97 | ||||||||||||||
| 8. Ambold's | $ | 72.52 | ||||||||||||||
| 9. American Express | $ | 4,649.94 | ||||||||||||||
| 10. Atmos Energy | $ | 47.79 | ||||||||||||||
| 11. AT&T Long Distance | $ | 1,789.71 | ||||||||||||||
| 12. AT&T | $ | 2,097.52 | ||||||||||||||
| 13. AT&T Mobility | $ | 605.25 | ||||||||||||||
| 14. AVS Underwriting, LLC | $ | 350.00 | ||||||||||||||
| 15. Kristen Bickham | $ | 334.97 | ||||||||||||||
| 16. City of Waco Water Office | $ | 854.77 | ||||||||||||||
| 17. Mark Embry | $ | 263.83 | ||||||||||||||
| 18. EPIQ Bankruptcy Solutions | $ | 98,992.39 | ||||||||||||||
| 19. Federal Express | $ | 2,793.83 | ||||||||||||||
| 20. Johnnies Office Systems, Inc. | $ | 41.64 | ||||||||||||||
| 21. Lexis Nexis | $ | 31.98 | ||||||||||||||
| 22. City of McGregor | $ | 85.14 | ||||||||||||||
| 23. Ozarka | $ | 316.97 | ||||||||||||||
| 24. Professional Building Maintenance Service | $ | 1,623.75 | ||||||||||||||
| 25. Purchase Escrow Services, LLC | $ | 5,147.70 | ||||||||||||||
| 26. Secretary of State of Texas | $ | 31.00 | ||||||||||||||
| 27. SolarWinds | $ | 613.78 | ||||||||||||||
| 28. TALX Corporation (Equifax) | $ | 1,176.11 | ||||||||||||||
| 29. Thomson Reuters | $ | 906.10 | ||||||||||||||
| 29. Time Warner Cable | $ | 1,455.10 | ||||||||||||||
| 29. Frontline eSolutions, LLC | $ | 18.95 | ||||||||||||||
| 29. Thomson Reuters | $ | 480.57 | ||||||||||||||
| 29. Millennium Trust Group | $ | 4,172.03 | ||||||||||||||
| 29. Provident Trust Group | $ | 13,845.45 | ||||||||||||||
| 29. (IF ADDITIONAL ATTACH LIST) | ||||||||||||||||
| 30. TOTAL OF LINES 7 - 29 | $ | 142,837.76 | $ | - | ||||||||||||
| 31. TOTAL POSTPETITION LIABILITIES | $ | 142,837.76 | $ | - | ||||||||||||
| 4 | See Exhibit 3 for detail of Postpetition Liabilities |
| 6 | Does not include checks written pre-petition that cleared the bank post-petition (See Exhibit 1 for detail) because these these amounts were not included in Schedule F. |
| 7 | Payment of pre-petition utilities authorized by court Dkt. No. 483 (See Exhibit 1 for detail) |
Monthly Operating Report
CASH BASIS-4A
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-41995 |
| MONTH: | June |
ACCOUNTS RECEIVABLE AGING
| SCHEDULE | MONTH | |||||||||||||||
| AMOUNT | June 30,2015 | MONTH | MONTH | |||||||||||||
| 1. 0 - 30 | $ | 139,889.99 | $ | 155,881.10 | ||||||||||||
| 2. 31 - 60 | $ | 279,914.48 | $ | 44,626.95 | ||||||||||||
| 3. 61 - 90 | $ | 77,761.72 | $ | 127,549.60 | ||||||||||||
| 4. 91 + | $ | 12,721,786.70 | $ | 13,021,052.05 | ||||||||||||
| 5. TOTAL ACCOUNTS RECEIVABLE | $ | 13,219,352.89 | $ | 13,349,109.70 | $ | - | $ | - | ||||||||
| 6. AMOUNT CONSIDERED UNCOLLECTIBLE | $ | 5,163,789.81 | $ | 5,163,789.81 | ||||||||||||
| 7. ACCOUNTS RECEIVABLE (NET) | $ | 8,055,563.08 | $ | 8,185,319.89 | $ | - | $ | - | ||||||||
AGING OF POSTPETITION TAXES AND PAYABLES
| 0 - 30 | 31-60 | 90+ | ||||||||||||||
| TAXES PAYABLE | DAYS | DAYS | DAYS | Total | ||||||||||||
| 1. FEDERAL | $ | - | ||||||||||||||
| 2. STATE | $ | - | ||||||||||||||
| 3. LOCAL | $ | - | ||||||||||||||
| 4. OTHER (ATTACH LIST) | $ | - | ||||||||||||||
| 5. TOTAL TAXES PAYABLE | $ | - | $ | - | $ | - | $ | - | ||||||||
| 6. ACCOUNTS PAYABLE | $ | 135,287.22 | $ | 7,550.54 | $ | - | $ | 142,837.76 | ||||||||
STATUS OF POSTPETITION TAXES
| BEGINNING | AMOUNT | ENDING | ||||||||||||||
| TAX | WITHHELD | AMOUNT | TAX | |||||||||||||
| FEDERAL | LIABILITY | OR ACCRUED | PAID | LIABILITY | ||||||||||||
| 1. WITHHOLDING | $ | 14,854.71 | $ | 14,854.71 | $ | - | ||||||||||
| 2. FICA-EMPLOYEE | $ | 9,990.22 | $ | 9,990.22 | $ | - | ||||||||||
| 3. FICA-EMPLOYER | $ | 9,990.22 | $ | 9,990.22 | $ | - | ||||||||||
| 4. UNEMPLOYMENT | $ | 11.66 | $ | 11.66 | $ | - | ||||||||||
| 5. INCOME | $ | - | ||||||||||||||
| 6. OTHER (ATTACH LIST) | $ | - | ||||||||||||||
| 7. TOTAL FEDERAL TAXES | $ | - | $ | 34,846.81 | $ | 34,846.81 | $ | - | ||||||||
| STATE AND LOCAL | $ | - | ||||||||||||||
| 8. WITHHOLDING | $ | - | ||||||||||||||
| 9. SALES | $ | - | ||||||||||||||
| 10. EXCISE | $ | - | ||||||||||||||
| 11. UNEMPLOYMENT | $ | 273.99 | $ | 273.99 | $ | - | ||||||||||
| 12. REAL PROPERTY | $ | - | ||||||||||||||
| 13. PERSONAL PROPERTY | $ | 2,626.23 | $ | 2,626.23 | ||||||||||||
| 14. OTHER (ATTACH LIST) | $ | 2,300.00 | $ | 2,300.00 | $ | - | 8 | |||||||||
| 15. TOTAL STATE & LOCAL | $ | - | $ | 5,200.22 | $ | 2,573.99 | $ | 2,626.23 | ||||||||
| 16. TOTAL TAXES | $ | - | $ | 40,047.03 | $ | 37,420.80 | $ | 2,626.23 | ||||||||
8 See Exhibit 4 attached.
Monthly Operating Report
CASH BASIS-5
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-41995 |
| MONTH: | June |
| PAYMENTS TO INSIDERS AND PROFESSIONALS | ||||||||||
| INSIDERS | ||||||||||
| NAME | TYPE OF PAYMENT | AMOUNT PAID | TTL PD TO DATE | |||||||
| 1. Mark Embry | Expense Reimbursement | $ | 127.03 | $ | 127.03 | 5 | ||||
| 2. Advance Trust & Life Es | Premium Remittance/Cost Reimb | $ | 40,729.40 | $ | 40,729.40 | 5 | ||||
| 3. Life Partners Holdings, Inc. | Rent & Return deposit in error | $ | 71,398.28 | $ | 71,398.28 | 5 | ||||
| 4. LPI Financial Services, Inc. | Forward Platform Fees | $ | 1,938.00 | $ | 1,938.00 | 5 | ||||
| 5. Purchase Escrow Services, LLC | Premium Remittance/Cost Reimb | $ | 494,427.38 | $ | 494,427.38 | |||||
| 6. | ||||||||||
| TOTAL PAYMENTS TO INSIDERS | $ | 608,620.09 | $ | 608,620.09 | ||||||
| PROFESSIONALS | 11 | |||||||||||||||||||
| DATE OF COURT ORDER | AMOUNT | AMOUNT | TTL PAID | TOTAL INCURRED | ||||||||||||||||
| NAME | AUTHORIZING PAYMENT | APPROVED | PAID | TO DATE | & UNPAID | |||||||||||||||
| 1. Asset Servicing Group | $ | 167,656.00 | 11 | |||||||||||||||||
| 2. Bridgepoint Consulting | $ | 70,391.90 | 11 | |||||||||||||||||
| 3. Epiq Bankruptcy Solutions | $ | 430,596.00 | 11 | |||||||||||||||||
| 4. Kim Hinkle, Attorney at Law | $ | 46,400.00 | 11 | |||||||||||||||||
| 5. MMS Advisors | $ | 36,000.00 | 11 & 12 | |||||||||||||||||
| 6. Munsch, Hardt, Kopf & Harr,P.C. | $ | 150,000.00 | 11 | |||||||||||||||||
| 7. Thompson & Knight LLP | $ | 1,100,000.00 | 11 | |||||||||||||||||
| 8. Tom Moran, US Trustee | $ | 109,800.00 | 11 | |||||||||||||||||
| 5. | ||||||||||||||||||||
| TOTAL PAYMENTS TO PROFESSIONALS | $ | - | $ | - | $ | - | $ | 2,110,843.90 | ||||||||||||
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
| SCHEDULED | AMOUNTS | TOTAL | ||||||||||
| MONTHLY | PAID | UNPAID | ||||||||||
| PAYMENTS | DURING | POST- | ||||||||||
| NAME OF CREDITOR | DUE | MONTH | PETITION | |||||||||
| 1. Pitney Bowes Global Financial Services, LLC | $ | 5,423.33 | $ | - | $ | - | 10 | |||||
| 2. Pitney Bowes Global Financial Services, LLC | $ | 906.06 | $ | - | $ | - | 10 | |||||
| 3. Johnnies Office Systems, Inc. | $ | 1,054.61 | $ | 1,054.61 | $ | - | ||||||
| 4. Great America Financial Services | $ | 2,938.52 | $ | 2,938.52 | $ | - | ||||||
| 5. Life Partners Holdings, Inc. | $ | 10,000.00 | $ | 10,000.00 | $ | - | ||||||
| 6. Nick Courcoumelis | $ | 315.00 | $ | - | $ | 315.00 | ||||||
| 5. | ||||||||||||
| 6. TOTAL | $ | 20,637.52 | $ | 13,993.13 | $ | 315.00 | ||||||
| 5 | See Exhibit 1 for payment details. |
| 10 | These lease payments are quarterly, not monthly. |
| 11 | Professional fees and expenses estimated and accrued prior to May 19th are reflected only on the books of Life Partners Holdings, Inc. Thereafter, professional fees and expenses reflect the estimated aggregate, unallocated fees and expenses for all of the Debtors, and are noted on each of the Debtors MORs. |
| 12 | MMS Advisors incurred fees and expenses March-June 30th in the estimated amount of $342,000.00, however, their retention was approved beginning as of June 11th, so only a portion of this amount is reflected above. |
Monthly Operating Report
CASH BASIS-6
2015
| CASE NAME: | Life Partners, Inc. |
| CASE NUMBER: | 15-41995 |
| MONTH: | June |
QUESTIONNAIRE
| YES | NO | |||||
| 1. | HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? | X | ||||
| 2. | HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? | X | ||||
| 3. | ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES OR LOANS) DUE FROM RELATED PARTIES? | X | ||||
| 4. | HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? | X | ||||
| 5. | HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? | X | ||||
| 6. | ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? | X | ||||
| 7. | ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? | X | ||||
| 8. | ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? | X | ||||
| 9. | ARE ANY OTHER POSTPETITION TAXES PAST DUE? | X | ||||
| 10. | ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? | X | ||||
| 11. | HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? | X | ||||
| 12. | ARE ANY WAGE PAYMENTS PAST DUE? | X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES"; PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
Item 2. Checks written pre-petition cleared the bank post-petition. See Exhibit 1 for checks.
Questionnaire Item 4. Approval of Motion authorizing payments of pre-petition amounts owed to Utility Companies 6/17/15 Dkt. No. 483
INSURANCE
| YES | NO | |||||
| 1. | ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? | X | ||||
| 2. | ARE ALL PREMIUM PAYMENTS PAID CURRENT? | X | ||||
| 3. | PLEASE ITEMIZE POLICIES BELOW | X | ||||
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO" OR IF ANY POLICIES HAVE BEEN CANCELED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSTALLMENT PAYMENTS
| TYPE OF | PERIOD | PAYMENT AMOUNT | |||||||
| POLICY | CARRIER | COVERED | & FREQUENCY | ||||||
| Workers' Compensation | Service Lloyds Ins Co | 06/14/15 - 06/14/16 | $ | 316.00 /month | |||||
| Life Partners, Inc. Case No. 15-41995 | EXHIBIT 1 |
| BANK ACCOUNT DISBURSEMENTS | ||||||||||
| CK# | DATE | PAYEE | PURPOSE | AMOUNT | ||||||
| 112079 | 05/12/15 | Ambold's | Repairs & Maintenance | $ | 72.52 | 6 | ||||
| 112084 | 05/12/15 | Leonard Graham | Repairs & Maintenance | $ | 1,082.50 | 6 | ||||
| 112085 | 05/12/15 | Professional Building Maintenance Service | Repairs & Maintenance | $ | 1,623.75 | 6 | ||||
| 112091 | 05/12/15 | Vi3 Technologies, Inc. | Outside Services | $ | 1,280.14 | 6 | ||||
| 111932 | 04/09/15 | Nick Courcoumelis | Rental & Lease Payments | $ | 315.00 | 6 | ||||
| 112063 | 05/06/15 | Nick Courcoumelis | Rental & Lease Payments | $ | 315.00 | 6 | ||||
| 112099 | 05/19/15 | Kristen Bickham | Travel | $ | 342.75 | 6 | ||||
| wire | 05/20/15 | CG Web Systems Limited | Software Licenses & Support | $ | 2,301.00 | |||||
| TRANSFER | 05/21/15 | Life Partners Holdings, Inc. | Tfrd to LPHI BoTX Acct in error | $ | 61,398.28 | 5 | ||||
| 001347 | 05/21/15 | Christina Butler | Net Payroll | $ | 704.01 | |||||
| ACH 052115 | 05/21/15 | MyPay Solutions-Tax Impound | Payroll Taxes Paid | $ | 20,758.02 | |||||
| ACH 052115 | 05/21/15 | Voya National Trust182 | Payroll-401K deductions | $ | 4,514.98 | |||||
| wire | 05/28/15 | Purchase Escrow Services, LLC | Cost Reimbursement | $ | 13,468.13 | 5 | ||||
| ACH 060415 | 06/04/15 | Voya National Trust182 | Payroll-401K deductions | $ | 4,579.82 | |||||
| PREAUTHACH | 06/01/15 | Deluxe Business Checks & Solutions | Supplies | $ | 219.73 | |||||
| ACH 061815 | 06/18/15 | MyPay Solutions-TX CS Impound | Payroll Garnishment | $ | 151.86 | |||||
| ACH 061815 | 06/18/15 | MyPay Solutions | Outside Services | $ | 94.61 | |||||
| ACH 061815 | 06/18/15 | Voya National Trust182 | Payroll-401K deductions | $ | 4,627.60 | |||||
| BANK FEE | 06/12/15 | Bank of Texas | Bank Analysis Fee | $ | 155.42 | |||||
| BANK FEE | 06/08/15 | Bank of Texas | Bank Wire Fees | $ | 6.00 | |||||
| ACH061815 | 06/18/15 | MyPay Solutions-Tax Impound | Payroll Taxes Paid | $ | 14,362.78 | |||||
| BANK FEE | 06/18/15 | Bank of Texas | Stop Payment Fee | $ | 34.50 | |||||
| PREAUTHACH | 06/18/15 | Deluxe Business Checks & Solutions | Supplies | $ | 177.21 | |||||
| TRANSFER | 06/26/15 | LPI Financial Services, Inc | $ | 1,938.00 | 5 | |||||
| 000107 | 06/10/15 | Arizona Department of Revenue | Sales, Use & Other Taxes Paid | $ | 50.00 | |||||
| 000108 | 06/10/15 | Louisiana Dept. of Revenue | Sales, Use & Other Taxes Paid | $ | 2,000.00 | |||||
| 000109 | 06/10/15 | Purchase Escrow Services, LLC | Flow Thru Premiums | $ | 27,233.17 | 5 | ||||
| 000110 | 06/10/15 | Purchase Escrow Services, LLC | Flow Thru Premiums | $ | 731.75 | 5 | ||||
| 000111 | 06/10/15 | Purchase Escrow Services, LLC | Flow Thru Premiums | $ | 4,152.89 | 5 | ||||
| 000112 | 06/10/15 | AT&T Mobility | Utilities | $ | 930.24 | |||||
| 000114 | 06/10/15 | FED EX | Courier Services | $ | 144.94 | |||||
| 000115 | 06/10/15 | Johnnies Office Systems | Repairs & Maintenance | $ | 41.64 | |||||
| 000116 | 06/10/15 | Johnnies Office Systems | Rental & Lease Payments | $ | 1,054.61 | |||||
| 000117 | 06/10/15 | Life Partners Holdings, Inc. | Rental & Lease Payments | $ | 10,000.00 | 5 | ||||
| 000118 | 06/10/15 | Office Depot, Inc. | Supplies | $ | 66.99 | |||||
| 000119 | 06/11/15 | Dr. Stuart Orsher | Medical Records | $ | 250.00 | |||||
| 000120 | 06/11/15 | Provident Trust Group | Premiums Advance | $ | 121.22 | |||||
| 000121 | 06/11/15 | Service Lloyds Insurance Company | Insurance-Workers' Comp | $ | 351.00 | |||||
| 000122 | 06/11/15 | Purchase Escrow Services, LLC | Premiums Advance | $ | 9,622.22 | 5 | ||||
| 000123 | 06/15/15 | Purchase Escrow Services, LLC | Flow Thru Premiums | $ | 59,939.57 | 5 | ||||
| 000125 | 06/16/15 | Kristen Bickham | Travel | $ | 648.68 | |||||
| 000127 | 06/16/15 | Mark Embry | Travel | $ | 127.03 | 5 | ||||
| 000128 | 06/16/15 | GreatAmerica Financial Services | Rental & Lease Payments | $ | 2,938.52 | |||||
| 000129 | 06/16/15 | Lincoln National Life Insurance Co. | Insurance-Employee Benefits | $ | 1,073.26 | |||||
| 000130 | 06/16/15 | Vision Service Plan | Insurance-Employee Benefits | $ | 335.61 | |||||
| 000124 | 06/16/15 | Bird Kultgen-Ford | Repairs & Maintenance | $ | 506.12 | |||||
| 000131 | 06/16/15 | Blue Cross Blue Shield | Insurance-Employee Benefits | $ | 23,430.03 | |||||
| 000132 | 06/17/15 | Purchase Escrow Services, LLC | Flow Thru Premiums | $ | 7,916.55 | 5 | ||||
| 001001 | 06/18/15 | Purchase Escrow Services, LLC | Premiums Advance | $ | 24,396.50 | 5 | ||||
| 001002 | 06/18/15 | Conexus SG | Software Licenses & Support | $ | 3,242.30 | |||||
| 001003 | 06/19/15 | Paytime Network, LLC | Outside Services | $ | 175.00 | |||||
| 001004 | 06/19/15 | Allison Enterprises, Inc | Repairs & Maintenance | $ | 38.97 | |||||
| 001005 | 06/19/15 | Atmos Energy | Utilities | $ | 45.06 | 7 | ||||
| 001006 | 06/19/15 | AT&T | Utilities | $ | 128.96 | 7 | ||||
| 001007 | 06/19/15 | AT & T Long Distance | Utilities | $ | 1,789.71 | 7 | ||||
| 001008 | 06/19/15 | AT&T | Utilities | $ | 2,202.66 | 7 | ||||
| 001009 | 06/19/15 | AT&T | Utilities | $ | 56.06 | |||||
| 001010 | 06/19/15 | AT & T Long Distance | Utilities | $ | 628.43 | 7 | ||||
| 001011 | 06/19/15 | City of Waco Water Office | Utilities | $ | 739.19 | 7 | ||||
| 001012 | 06/19/15 | Life Account, LLC | Outside Services | $ | 270.00 | |||||
| 001013 | 06/19/15 | FED EX | Courier Services | $ | 111.30 | |||||
| 001014 | 06/19/15 | City of McGregor | Utilities | $ | 60.14 | 7 | ||||
| 001015 | 06/19/15 | Reliant Energy | Utilities | $ | 10.19 | 7 | ||||
| 001016 | 06/19/15 | Reliant Energy | Utilities | $ | 1,179.21 | 7 | ||||
| 001017 | 06/19/15 | Reliant Energy | Utilities | $ | 28.39 | 7 | ||||
| 001018 | 06/19/15 | Reliant Energy | Utilities | $ | 1,720.64 | 7 | ||||
| 001019 | 06/19/15 | Reliant Energy | Utilities | $ | 36.03 | 7 | ||||
| 001020 | 06/19/15 | Reliant Energy | Utilities | $ | 10.06 | |||||
| 001021 | 06/19/15 | Reliant Energy | Utilities | $ | 28.38 | |||||
| 001022 | 06/19/15 | Reliant Energy | Utilities | $ | 1,819.75 | |||||
| 001023 | 06/19/15 | Reliant Energy | Utilities | $ | 1,369.49 | |||||
| 001024 | 06/19/15 | Reliant Energy | Utilities | $ | 48.92 | |||||
| 001025 | 06/19/15 | Sedona Staffing Service | Outside Services | $ | 1,389.61 | |||||
| 001026 | 06/19/15 | Time Warner Cable | Utilities | $ | 69.52 | |||||
| 001027 | 06/19/15 | Frontline eSolutions, LLC | Outside Services | $ | 18.95 | |||||
| Life Partners, Inc. Case No. 15-41995 | EXHIBIT 1 |
| BANK ACCOUNT DISBURSEMENTS | ||||||||||
| CK# | DATE | PAYEE | PURPOSE | AMOUNT | ||||||
| 001028 | 06/19/15 | Purchase Escrow Services, LLC | Premiums Advance | $ | 2,960.70 | 5 | ||||
| 001029 | 06/19/15 | Advance Trust & Life Escrow Services, LTA | Trust Fees/Cost Reimbursement | $ | 16,789.57 | 5 | ||||
| 001030 | 06/26/15 | Ambold's | Repairs & Maintenance | $ | 72.52 | |||||
| 001031 | 06/26/15 | AT&T | Utilities | $ | 46.37 | |||||
| 001032 | 06/26/15 | AT&T | Utilities | $ | 250.54 | |||||
| 001033 | 06/26/15 | AT & T Long Distance | Utilities | $ | 113.02 | |||||
| 001034 | 06/26/15 | Kristen Bickham | Travel | $ | 677.07 | |||||
| 001035 | 06/26/15 | Blue Cross Blue Shield | Insurance-Employee Benefits | $ | 25,426.98 | |||||
| 001036 | 06/26/15 | City of Waco Water Office | Utilities | $ | 669.35 | |||||
| 001037 | 06/26/15 | FED EX | Courier Services | $ | 910.29 | |||||
| 001038 | 06/26/15 | Leonard Graham | Repairs & Maintenance | $ | 1,404.43 | |||||
| 001039 | 06/26/15 | Ladybug Termite & Pest Control | Repairs & Maintenance | $ | 150.00 | |||||
| 001040 | 06/26/15 | Lincoln National Life Insurance Co. | Insurance-Employee Benefits | $ | 1,312.41 | |||||
| 001041 | 06/26/15 | Professional Building Maintenance Service | Repairs & Maintenance | $ | 680.92 | |||||
| 001042 | 06/26/15 | Rabroker | Repairs & Maintenance | $ | 1,073.01 | |||||
| 001043 | 06/26/15 | Sedona Staffing Service | Outside Services | $ | 1,761.05 | |||||
| 001044 | 06/26/15 | SHRED-IT US JV LLC | Outside Services | $ | 210.00 | |||||
| 001045 | 06/26/15 | Vi3 Technologies, Inc. | Outside Services | $ | 1,280.14 | |||||
| 001046 | 06/26/15 | Vision Service Plan | Insurance-Employee Benefits | $ | 328.29 | |||||
| 001047 | 06/26/15 | Advance Trust & Life Escrow Services, LTA | Premiums Advance | $ | 4,130.38 | 5 | ||||
| 001048 | 06/26/15 | Anthem Life Ins. Company | BK Premiums | $ | 725.55 | |||||
| 001049 | 06/26/15 | Farmers New World Life Ins. Co. | BK Premiums | $ | 410.50 | |||||
| 001050 | 06/26/15 | Purchase Escrow Services, LLC | Premiums Advance | $ | 101,714.46 | 5 | ||||
| 001051 | 06/29/15 | Advance Trust & Life Escrow Services, LTA | Premiums Advance | $ | 114.29 | 5 | ||||
| wire | 06/12/15 | Purchase Escrow Services, LLC | Cost Reimbursement | $ | 19,894.38 | 5 | ||||
| wire | 06/24/15 | Purchase Escrow Services, LLC | Cost Reimbursement | $ | 23,471.52 | 5 | ||||
| wire | 06/03/15 | State of Connecticut | Sales, Use & Other Taxes Paid | $ | 250.00 | |||||
| wire | 06/01/15 | Purchase Escrow Services, LLC | Cost Reimbursement | $ | 4,000.00 | 5 | ||||
| wire | 06/01/15 | AFCO | Insurance paid on behalf of LPHI | $ | 34,288.36 | 1 | ||||
| wire | 06/02/15 | Purchase Escrow Services, LLC | Premiums Advance | $ | 506.98 | 5 | ||||
| PREAUTHACH | 06/01/15 | Deluxe Business Checks & Solutions | Supplies | $ | 219.73 | |||||
| BANK FEE | 06/10/15 | Bank of Texas | Bank Wire Fees | $ | 6.00 | |||||
| BANK FEE | 06/12/15 | Bank of Texas | Bank Wire Fees | $ | 6.00 | |||||
| BANK FEE | 06/12/15 | Bank of Texas | Bank Wire Fees | $ | 6.00 | |||||
| BANK FEE | 06/15/15 | Bank of Texas | Bank Wire Fees | $ | 6.00 | |||||
| BANK FEE | 06/18/15 | Bank of Texas | Bank Wire Fees | $ | 6.00 | |||||
| BANK FEE | 06/18/15 | Bank of Texas | Bank Wire Fees | $ | 6.00 | |||||
| BANK FEE | 06/18/15 | Bank of Texas | Bank Wire Fees | $ | 6.00 | |||||
| BANK FEE | 06/18/15 | Bank of Texas | Bank Wire Fees | $ | 6.00 | |||||
| BANK FEE | 06/18/15 | Bank of Texas | Bank Wire Fees | $ | 6.00 | |||||
| BANK FEE | 06/19/15 | Bank of Texas | Bank Wire Fees | $ | 6.00 | |||||
| BANK FEE | 06/19/15 | Bank of Texas | Bank Wire Fees | $ | 6.00 | |||||
| BANK FEE | 06/19/15 | Bank of Texas | Bank Wire Fees | $ | 6.00 | |||||
| BANK FEE | 06/19/15 | Bank of Texas | Bank Wire Fees | $ | 6.00 | |||||
| BANK FEE | 06/19/15 | Bank of Texas | Bank Wire Fees | $ | 6.00 | |||||
| BANK FEE | 06/19/15 | Bank of Texas | Bank Wire Fees | $ | 6.00 | |||||
| BANK FEE | 06/19/15 | Bank of Texas | Bank Wire Fees | $ | 6.00 | |||||
| BANK FEE | 06/19/15 | Bank of Texas | Bank Wire Fees | $ | 6.00 | |||||
| BANK FEE | 06/19/15 | Bank of Texas | Bank Wire Fees | $ | 6.00 | |||||
| BANK FEE | 06/12/15 | Bank of Texas | Bank Analysis Fee | $ | 67.50 | |||||
| PREAUTHACH | 06/18/15 | Deluxe Business Checks & Solutions | Supplies | $ | 145.85 | |||||
| BANK FEE | 06/30/15 | Bank of Texas | Bank Wire Fees | $ | 6.00 | |||||
| BANK FEE | 06/25/15 | Bank of Texas | Bank Wire Fees | $ | 6.00 | |||||
| BANK FEE | 06/24/15 | Bank of Texas | Bank Wire Fees | $ | 6.00 | |||||
| BANK FEE | 06/24/15 | Bank of Texas | Bank Wire Fees | $ | 6.00 | |||||
| 001001 | 06/24/15 | Purchase Escrow Services, LLC | Flow Thru Premiums | $ | 12,668.21 | 5 | ||||
| 001002 | 06/24/15 | Purchase Escrow Services, LLC | Flow Thru Premiums | $ | 54,658.80 | 5 | ||||
| 001003 | 06/24/15 | Purchase Escrow Services, LLC | Flow Thru Premiums | $ | 79,337.91 | 5 | ||||
| 001004 | 06/26/15 | Advance Trust & Life Escrow Services, LTA | Flow Thru Premiums | $ | 8,853.90 | 5 | ||||
| 001005 | 06/26/15 | Purchase Escrow Services, LLC | Flow Thru Premiums | $ | 27,662.28 | 5 | ||||
| 001006 | 06/29/15 | Advance Trust & Life Escrow Services, LTA | Flow Thru Premiums | $ | 10,841.26 | 5 | ||||
| 001007 | 06/29/15 | Purchase Escrow Services, LLC | Flow Thru Premiums | $ | 9,594.25 | 5 | ||||
| 001008 | 06/29/15 | Purchase Escrow Services, LLC | Flow Thru Premiums | $ | 10,497.11 | 5 | ||||
| TOTAL BANK ACCOUNT DISBURSEMENTS | $ | 790,104.95 | ||||||||
| 1 | Disbursement by LPI, Inc. on behalf of LPHI. |
| 5 | Incuded on CASH BASIS-5 as an insider payment. |
| 6 | These are checks written pre-petition that cleared the bank post-petition. |
| 7 | These checks include payment of amounts that are pre-petition. |
| The following were not included in disbursements for the reasons provided: | Reason not included: | |||||||||||
| BANK FEE | 05/29/15 | Bank of America | Bank Analysis Fee | $ | 198.78 | Fee was reversed | ||||||
| 0000106696 | 06/22/15 | Purchase Escrow Services, LLC | Bank Return A/R Collections-Pd in Error | $ | 3,198.00 | Payment stopped on check deposited | ||||||
| BANK FEE | 06/01/15 | Bank of Texas | NFS Charge | $ | 65.50 | Fee was reversed | ||||||
| Life Partners, Inc. Case No. 15-41995 | EXHIBIT 2 |
| Other Personal Property |
| SCHEDULE | MONTH | MONTH | MONTH | |||||||||||||
| DESCRIPTION | AMOUNT | June 30,2015 | ||||||||||||||
| PREPAID INSURANCE - THE NITSCHE GROUP INC. | $ | 39,853.51 | $ | 38,835.10 | ||||||||||||
| RETAINER - AGUIRRE LAW | $ | 26,925.36 | $ | 26,925.36 | ||||||||||||
| RETAINER - LAW OFFICE OF HARRIET O'NEILL | $ | 15,000.00 | $ | 15,000.00 | ||||||||||||
| RETAINER - MCGLADREY LLP | $ | 15,000.00 | $ | 15,000.00 | ||||||||||||
| RETAINER - C. ALFRED MACKENZIE RETAINER | $ | 11,407.57 | $ | 4,792.50 | ||||||||||||
| PREPAID - AMERICAN EXPRESS | $ | 6,884.16 | $ | 2,958.15 | ||||||||||||
| RETAINER - LAW OFFICE OF DOUGLAS M BERMAN | $ | 5,368.75 | $ | 5,368.75 | ||||||||||||
| RETAINER - DR. JAMES LINEBACK | $ | 5,000.00 | $ | 5,000.00 | ||||||||||||
| PREPAID TAXES - FRANCHISE TAX BOARD | $ | 4,800.00 | $ | 4,800.00 | ||||||||||||
| RETAINER - WEST & ASSOCIATES LLP | $ | 4,750.77 | $ | 4,750.77 | ||||||||||||
| RETAINER - SQUIRES BATTON BOGGS (US) LLP | $ | 4,226.00 | $ | 4,226.00 | ||||||||||||
| RETAINER - HORWOOD, MARCUS & BERK | $ | 2,867.62 | $ | 2,867.62 | ||||||||||||
| RETAINER - MCGARRY & LAUFENBERG | $ | 1,303.00 | $ | 1,303.00 | ||||||||||||
| TOTAL | $ | 143,386.74 | $ | 131,827.25 | ||||||||||||
| Date: | |
| Time: User: | |
| Friday, July 17, 2015 | EXHIBIT 3 |
| 11:52AM BSTRIPLING |
Life Partners Inc
Period Sensitive Aged AP - Detail
Period: 04-16 As of: 6/30/2015
Page:
Report:
Company:
1 of 5
03681d.rpt
01
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days
Past Due |
||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | 31 To 60 | 61 To 90 | Over 90 | Balance | |
| Company: | 01 | ||||||||||||||
| AIRF00 | Allison Enterprises, Inc. | A | |||||||||||||
| 234414 | 132376 | VO | A | 7/17/2015 | 7/17/2015 | 7/8/2015 | 38.97 | 0.00 | 0.00 | 0.00 | 0.00 | 38.97 | |||
| Vendor Total | 38.97 | 0.00 | 0.00 | 0.00 | 0.00 | 38.97 | |||||||||
| AMBO00 | Ambold's | A | |||||||||||||
| 234531 | 3557 6/30/15 | VO | A | 7/30/2015 | 7/30/2015 | 7/29/2015 | 72.52 | 0.00 | 0.00 | 0.00 | 0.00 | 72.52 | |||
| Vendor Total | 72.52 | 0.00 | 0.00 | 0.00 | 0.00 | 72.52 | |||||||||
| AMER01 | American Express | A | |||||||||||||
| 234343 | 5-01003xMay | VO | A | 5/29/2015 | 6/13/2015 | 6/9/2015 | 0.00 | 235.00 | 0.00 | 0.00 | 0.00 | 235.00 | |||
| 234437 | 6-81004xMay | VO | A | 5/29/2015 | 5/29/2015 | 5/29/2015 | 0.00 | 0.00 | 550.89 | 0.00 | 0.00 | 550.89 | |||
| 234438 | 6-81004xMay | AD | A | 5/29/2015 | 5/29/2015 | 0.00 | 0.00 | -550.89 | 0.00 | 0.00 | -550.89 | ||||
| 234534 | 9-93009xJun1 | VO | A | 6/28/2015 | 7/13/2015 | 7/8/2015 | 4,649.94 | 0.00 | 0.00 | 0.00 | 0.00 | 4,649.94 | |||
| 234680 | 5-01003AppD | AD | A | 6/28/2015 | 6/28/2015 | 0.00 | -235.00 | 0.00 | 0.00 | 0.00 | -235.00 | ||||
| 234681 | 5-01003xJun1 | VO | A | 6/28/2015 | 6/28/2015 | 6/28/2015 | 0.00 | 467.24 | 0.00 | 0.00 | 0.00 | 467.24 | |||
| 234682 | 6-81004xJun1 | VO | A | 6/28/2015 | 6/28/2015 | 6/28/2015 | 0.00 | 2,672.88 | 0.00 | 0.00 | 0.00 | 2,672.88 | |||
| 234683 | 6-81004AppD | AD | A | 6/28/2015 | 6/28/2015 | 0.00 | -2,672.88 | 0.00 | 0.00 | 0.00 | -2,672.88 | ||||
| 234684 | 5-01003AppD | AD | A | 6/28/2015 | 6/28/2015 | 0.00 | -467.24 | 0.00 | 0.00 | 0.00 | -467.24 | ||||
| Vendor Total | 4,649.94 | 0.00 | 0.00 | 0.00 | 0.00 | 4,649.94 | |||||||||
| ATMO00 | Atmos Energy | A | |||||||||||||
| 234522 | 3026943263 | VO | A | 7/9/2015 | 7/9/2015 | 7/8/2015 | 47.79 | 0.00 | 0.00 | 0.00 | 0.00 | 47.79 | |||
| Vendor Total | 47.79 | 0.00 | 0.00 | 0.00 | 0.00 | 47.79 | |||||||||
| ATT006 | AT & T Long Distance | A | |||||||||||||
| 234527 | 25475177970 | VO | A | 7/7/2015 | 7/10/2015 | 7/7/2015 | 1,789.71 | 0.00 | 0.00 | 0.00 | 0.00 | 1,789.71 | |||
| Vendor Total | 1,789.71 | 0.00 | 0.00 | 0.00 | 0.00 | 1,789.71 | |||||||||
| ATT279 | AT&T | A | |||||||||||||
| 234503 | 2412438209 | VO | A | 7/9/2015 | 7/9/2015 | 7/9/2015 | 2,097.52 | 0.00 | 0.00 | 0.00 | 0.00 | 2,097.52 | |||
| Vendor Total | 2,097.52 | 0.00 | 0.00 | 0.00 | 0.00 | 2,097.52 | |||||||||
| ATT352 | AT&T Mobility | A | |||||||||||||
| 234528 | 832678352x0 | VO | A | 7/11/2015 | 7/16/2015 | 7/8/2015 | 605.25 | 0.00 | 0.00 | 0.00 | 0.00 | 605.25 | |||
Date:
Time: User:
Friday, July 17, 2015
11:52AM BSTRIPLING
Life Partners Inc
Period Sensitive Aged AP - Detail
Period: 04-16 As of: 6/30/2015
Page:
Report:
Company:
2 of 5
03681d.rpt
01
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days
Past Due 31 |
||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | |
| Vendor Total | 605.25 | 0.00 | 0.00 | 0.00 | 0.00 | 605.25 | |||||||||
| AVS001 | AVS Underwriting, LLC | ||||||||||||||
| 234417 | LPI053115 | VO | A | 6/30/2015 | 6/24/2015 | 350.00 | 0.00 | 0.00 | 0.00 | 0.00 | 350.00 | ||||
| Vendor Total | 350.00 | 0.00 | 0.00 | 0.00 | 0.00 | 350.00 | |||||||||
| BICK00 | Kristen Bickham | ||||||||||||||
| 234524 | ExpRpt 6/25/1 | VO | A | 7/6/2015 | 7/6/2015 | 334.97 | 0.00 | 0.00 | 0.00 | 0.00 | 334.97 | ||||
| Vendor Total | 334.97 | 0.00 | 0.00 | 0.00 | 0.00 | 334.97 | |||||||||
| CITY00 | City of Waco Water Office | ||||||||||||||
| 234497 | 313896-21150 | VO | A | 7/5/2015 | 7/5/2015 | 7/5/2015 | 466.75 | 0.00 | 0.00 | 0.00 | 0.00 | 466.75 | |||
| 234498 | 313896-21139 | VO | A | 7/5/2015 | 7/5/2015 | 7/5/2015 | 388.02 | 0.00 | 0.00 | 0.00 | 0.00 | 388.02 | |||
| Vendor Total | 854.77 | 0.00 | 0.00 | 0.00 | 0.00 | 854.77 | |||||||||
| EMBR00 | Mark Embry | ||||||||||||||
| 234504 | ExpRpt 6/30/1 | VO | A | 6/30/2015 | 6/30/2015 | 6/30/2015 | 263.83 | 0.00 | 0.00 | 0.00 | 0.00 | 263.83 | |||
| Vendor Total | 263.83 | 0.00 | 0.00 | 0.00 | 0.00 | 263.83 | |||||||||
| EPIQ00 | EPIQ Systems Acquisition, Inc. | ||||||||||||||
| 234499 | 90112888 | VO | A | 6/30/2015 | 6/30/2015 | 6,243.00 | 0.00 | 0.00 | 0.00 | 0.00 | 6,243.00 | ||||
| 234500 | 90115612 | VO | A | 6/30/2015 | 6/30/2015 | 583.77 | 0.00 | 0.00 | 0.00 | 0.00 | 583.77 | ||||
| 234501 | 90115611 | VO | A | 6/30/2015 | 6/30/2015 | 92,165.62 | 0.00 | 0.00 | 0.00 | 0.00 | 92,165.62 | ||||
| Vendor Total | 98,992.39 | 0.00 | 0.00 | 0.00 | 0.00 | 98,992.39 | |||||||||
| FEDE00 | FED EX | ||||||||||||||
| 234517 | 5-075-72859 | VO | A | 7/10/2015 | 7/10/2015 | 7/8/2015 | 1,271.33 | 0.00 | 0.00 | 0.00 | 0.00 | 1,271.33 | |||
| 234519 | 6-495-16301 | VO | A | 7/11/2015 | 7/11/2015 | 7/8/2015 | 48.17 | 0.00 | 0.00 | 0.00 | 0.00 | 48.17 | |||
| 234520 | 5-082-78261 | VO | A | 7/17/2015 | 7/17/2015 | 7/15/2015 | 1,438.69 | 0.00 | 0.00 | 0.00 | 0.00 | 1,438.69 | |||
| 234650 | 6-497-77693 | VO | A | 7/18/2015 | 7/18/2015 | 7/18/2015 | 35.64 | 0.00 | 0.00 | 0.00 | 0.00 | 35.64 | |||
| Vendor Total | 2,793.83 | 0.00 | 0.00 | 0.00 | 0.00 | 2,793.83 | |||||||||
| JOHN00 | Johnnies Office Systems, Inc. | ||||||||||||||
| 234410 | 168964 | VO | A | 6/27/2015 | 6/27/2015 | 6/27/2015 | 0.00 | 41.64 | 0.00 | 0.00 | 0.00 | 41.64 | |||
| Vendor Total | 0.00 | 41.64 | 0.00 | 0.00 | 0.00 | 41.64 | |||||||||
Date:
Time: User:
Friday, July 17, 2015
11:52AM BSTRIPLING
Life Partners Inc
Period Sensitive Aged AP - Detail
Period: 04-16 As of: 6/30/2015
Page:
Report:
Company:
3 of 5
03681d.rpt
01
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days
Past Due 31 |
||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | |
| LEXI00 | LexisNexis | ||||||||||||||
| 234652 | 5019870-2015 | VO | A | 7/13/2015 | 7/13/2015 | 15.99 | 0.00 | 0.00 | 0.00 | 0.00 | 15.99 | ||||
| 234653 | 5019870-2015 | VO | A | 7/13/2015 | 7/13/2015 | 15.99 | 0.00 | 0.00 | 0.00 | 0.00 | 15.99 | ||||
| Vendor Total | 31.98 | 0.00 | 0.00 | 0.00 | 0.00 | 31.98 | |||||||||
| MCGR01 | City of McGregor | ||||||||||||||
| 234529 | 10-0133-01 | VO | A | 6/22/2015 | 7/10/2015 | 7/7/2015 | 85.14 | 0.00 | 0.00 | 0.00 | 0.00 | 85.14 | |||
| Vendor Total | 85.14 | 0.00 | 0.00 | 0.00 | 0.00 | 85.14 | |||||||||
| OZAR00 | Ozarka | ||||||||||||||
| 234418 | 15F01169766 | VO | A | 6/16/2015 | 7/6/2015 | 7/1/2015 | 316.97 | 0.00 | 0.00 | 0.00 | 0.00 | 316.97 | |||
| Vendor Total | 316.97 | 0.00 | 0.00 | 0.00 | 0.00 | 316.97 | |||||||||
| PROF00 | Professional Building Maintena | ||||||||||||||
| 234532 | 14146 | VO | A | 7/30/2015 | 7/30/2015 | 7/29/2015 | 784.81 | 0.00 | 0.00 | 0.00 | 0.00 | 784.81 | |||
| 234533 | 14147 | VO | A | 7/30/2015 | 7/30/2015 | 7/29/2015 | 838.94 | 0.00 | 0.00 | 0.00 | 0.00 | 838.94 | |||
| Vendor Total | 1623.75 | 0.00 | 0.00 | 0.00 | 0.00 | 1623.75 | |||||||||
| PURC00 | Purchase Escrow Services, LLC | A | |||||||||||||
| 234468 | 1235062 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 103.37 | 0.00 | 0.00 | 0.00 | 103.37 | |||
| 234469 | 1235074 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 68.23 | 0.00 | 0.00 | 0.00 | 68.23 | |||
| 234470 | 1235266 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 536.19 | 0.00 | 0.00 | 0.00 | 536.19 | |||
| 234471 | 1235287 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 4.34 | 0.00 | 0.00 | 0.00 | 4.34 | |||
| 234472 | 1235349 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 37.57 | 0.00 | 0.00 | 0.00 | 37.57 | |||
| 234473 | 1235372 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 90.36 | 0.00 | 0.00 | 0.00 | 90.36 | |||
| 234474 | 1235487 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 336.39 | 0.00 | 0.00 | 0.00 | 336.39 | |||
| 234475 | 1235488 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 294.34 | 0.00 | 0.00 | 0.00 | 294.34 | |||
| 234476 | 1235489 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 420.49 | 0.00 | 0.00 | 0.00 | 420.49 | |||
| 234477 | 1235490 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 420.49 | 0.00 | 0.00 | 0.00 | 420.49 | |||
| 234478 | 1235491 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 424.52 | 0.00 | 0.00 | 0.00 | 424.52 | |||
| 234479 | 1235498 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 104.27 | 0.00 | 0.00 | 0.00 | 104.27 | |||
| 234480 | 1235499 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 19.23 | 0.00 | 0.00 | 0.00 | 19.23 | |||
| 234481 | 1235500 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 116.03 | 0.00 | 0.00 | 0.00 | 116.03 | |||
Date:
Time: User:
Friday, July 17, 2015
11:52AM BSTRIPLING
Life Partners Inc
Period Sensitive Aged AP - Detail
Period: 04-16 As of: 6/30/2015
Page:
Report:
Company:
4 of 5
03681d.rpt
01
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days
Past Due 31 |
||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | |
| 234482 | 1235641 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 4.93 | 0.00 | 0.00 | 0.00 | 4.93 | |||
| 234483 | 1235832 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 80.97 | 0.00 | 0.00 | 0.00 | 80.97 | |||
| 234484 | 1236006 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 271.50 | 0.00 | 0.00 | 0.00 | 271.50 | |||
| 234485 | 1236007 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 543.00 | 0.00 | 0.00 | 0.00 | 543.00 | |||
| 234486 | 1236282 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 7.18 | 0.00 | 0.00 | 0.00 | 7.18 | |||
| 234487 | 1236546 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 13.67 | 0.00 | 0.00 | 0.00 | 13.67 | |||
| 234488 | 1236576 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 120.72 | 0.00 | 0.00 | 0.00 | 120.72 | |||
| 234489 | 1236597 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 15.60 | 0.00 | 0.00 | 0.00 | 15.60 | |||
| 234490 | 1236684 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 734.34 | 0.00 | 0.00 | 0.00 | 734.34 | |||
| 234491 | 1236860 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 20.82 | 0.00 | 0.00 | 0.00 | 20.82 | |||
| 234492 | 1236868 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 320.88 | 0.00 | 0.00 | 0.00 | 320.88 | |||
| 234493 | 1236939 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 11.86 | 0.00 | 0.00 | 0.00 | 11.86 | |||
| 234494 | 1236941 | VO | A | 6/13/2015 | 6/13/2015 | 6/13/2015 | 0.00 | 26.41 | 0.00 | 0.00 | 0.00 | 26.41 | |||
| Vendor Total | 0.00 | 5,147.70 | 0.00 | 0.00 | 0.00 | 5,147.70 | |||||||||
| SECR00 | Secretary of State of Texas | A | |||||||||||||
| 234651 | 147702374 | VO | A | 6/30/2015 | 6/30/2015 | 6/30/2015 | 31.00 | 0.00 | 0.00 | 0.00 | 0.00 | 31.00 | |||
| Vendor Total | 31.00 | 0.00 | 0.00 | 0.00 | 0.00 | 31.00 | |||||||||
| SOLA00 | SolarWinds | A | |||||||||||||
| 234523 | IN229738 | VO | A | 7/30/2015 | 7/22/2015 | 613.78 | 0.00 | 0.00 | 0.00 | 0.00 | 613.78 | ||||
| Vendor Total | 613.78 | 0.00 | 0.00 | 0.00 | 0.00 | 613.78 | |||||||||
| TALX00 | TALX Corporation | A | |||||||||||||
| 234351 | 1852732 | VO | A | 7/8/2015 | 7/8/2015 | 7/1/2015 | 408.59 | 0.00 | 0.00 | 0.00 | 0.00 | 408.59 | |||
| 234685 | 1866088 | VO | A | 8/7/2015 | 8/7/2015 | 8/7/2015 | 767.52 | 0.00 | 0.00 | 0.00 | 0.00 | 767.52 | |||
| Vendor Total | 1,176.11 | 0.00 | 0.00 | 0.00 | 0.00 | 1,176.11 | |||||||||
| THOM03 | Thomson Reuters | A | |||||||||||||
| 234325 | 15183438 | VO | H | 6/2/2015 | 6/2/2015 | 0.00 | 906.10 | 0.00 | 0.00 | 0.00 | 906.10 | ||||
| 234325 | 15183438 | VO | A | 6/02/2015 | 6/02/2015 | 0.00 | 906.10 | 0.00 | 0.00 | 0.00 | 906.10 | ||||
| Vendor Total | 0.00 | 906.10 | 0.00 | 0.00 | 0.00 | 906.10 | |||||||||
| TIME00 Time Warner Cable | A | ||||||||||||||
Date:
Time: User:
Friday, July 17, 2015
11:52AM BSTRIPLING
Life Partners Inc
Period Sensitive Aged AP - Detail
Period: 04-16 As of: 6/30/2015
Page:
Report:
Company:
5 of 5
03681d.rpt
01
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days
Past Due 31 |
||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | |
| 234633 | 1214136 Jun1 | VO | A | 6/6/2015 | 6/6/2015 | 6/6/2015 | 0.00 | 1,455.10 | 0.00 | 0.00 | 0.00 | 1,455.10 | |||
| Vendor Total | 0.00 | 1,455.10 | 0.00 | 0.00 | 0.00 | 1,455.10 | |||||||||
| UCON00 | Frontline eSolutions, LLC | A | |||||||||||||
| 234530 | 7CEDDDA1 | VO | A | 7/6/2015 | 7/6/2015 | 18.95 | 0.00 | 0.00 | 0.00 | 0.00 | 18.95 | ||||
| Vendor Total | 18.95 | 0.00 | 0.00 | 0.00 | 0.00 | 18.95 | |||||||||
| WEST00 | Thomson Reuters | A | |||||||||||||
| 234441 | 831956911 | VO | A | 7/01/2015 | 7/01/2015 | 7/01/2015 | 480.57 | 0.00 | 0.00 | 0.00 | 0.00 | 480.57 | |||
| Vendor Total | 480.57 | 0.00 | 0.00 | 0.00 | 0.00 | 480.57 | |||||||||
| Company Total | 117,269.74 | 7,550.54 | 0.00 | 0.00 | 0.00 | 124,820.28 | |||||||||
| Add back liability for 7/1/15 checks posted to wrong period: | ||||
| Millennium Trust Co. | $ | 4,172.03 | ||
| Provident Trust Group | $ | 13,845.45 | ||
| TOTAL | $ | 142,837.76 | ||
| Life Partners, Inc. Case No. 15-41995 | EXHIBIT 4 |
| OTHER TAXES | ||||||||||
| CK# | DATE | PAYEE | PURPOSE | AMOUNT | ||||||
| 000107 | 06/10/15 | Arizona Department of Revenue | Sales, Use & Other Taxes Paid | $ | 50.00 | |||||
| 000108 | 06/10/15 | Louisiana Dept. of Revenue | Sales, Use & Other Taxes Paid | $ | 2,000.00 | |||||
| wire | 06/03/15 | State of Connecticut | Sales, Use & Other Taxes Paid | $ | 250.00 | |||||
|
Life Partners, Inc. Case No. 15-41995 |
EXHIBIT 5 |
| Other Receipts and Disbursements | |
| 30-Jun-15 |
| OTHER RECEIPTS: | Received | Returned | Total | |||||||||
| A/R Collections-Pd in Error | $ | 3,198.00 | $ | 3,198.00 | $ | - | ||||||
| Flow Thru Premiums | $ | 332,105.13 | $ | - | $ | 332,105.13 | ||||||
| from LPI FS | $ | 250,000.00 | $ | - | $ | 250,000.00 | ||||||
| Interest Earned | $ | 14.53 | $ | - | $ | 14.53 | ||||||
| LPI FS Platform Fees Received | $ | 1,938.00 | $ | - | $ | 1,938.00 | ||||||
| Other Inc-dividends on pd out policies | $ | 3.75 | $ | - | $ | 3.75 | ||||||
| Other Income | $ | 0.11 | $ | - | $ | 0.11 | ||||||
| Return of retainer | $ | 6,141.59 | $ | - | $ | 6,141.59 | ||||||
| Transfer from LPIFS | $ | 3,441.77 | $ | - | $ | 3,441.77 | ||||||
| Transferred from LPHI BoTX Acct | $ | 61,398.28 | $ | - | $ | 61,398.28 | ||||||
| Trust Fees | $ | 50.00 | $ | - | $ | 50.00 | ||||||
| Total Other Receipts | $ | 655,093.16 | ||||||||||
| OTHER DISBURSEMENTS: | Disbursed | Returned | Total | |||||||||
| Premiums Advanced | $ | 143,566.75 | $ | - | $ | 143,566.75 | ||||||
| Bank Fees | $ | 659.70 | $ | 264.28 | $ | 395.42 | ||||||
| BK Premiums | $ | 1,136.05 | $ | - | $ | 1,136.05 | ||||||
| Courier Services | $ | 1,166.53 | $ | - | $ | 1,166.53 | ||||||
| Flow Thru Premiums | $ | 314,087.65 | $ | - | $ | 314,087.65 | ||||||
| LPI FS Platform Fees Forwarded | $ | 1,938.00 | $ | - | $ | 1,938.00 | ||||||
| Medical Records | $ | 250.00 | $ | - | $ | 250.00 | ||||||
| Outside Services | $ | 6,479.50 | $ | - | $ | 6,479.50 | ||||||
| Payroll Garnishment | $ | 151.86 | $ | - | $ | 151.86 | ||||||
| Payroll-401K deductions | $ | 13,722.40 | $ | - | $ | 13,722.40 | ||||||
| PES Operating Exp | $ | 60,834.03 | $ | - | $ | 60,834.03 | ||||||
| Software Licenses & Support | $ | 5,543.30 | $ | - | $ | 5,543.30 | ||||||
| Tfrd to LPHI BoTX Acct in error | $ | 61,398.28 | $ | - | $ | 61,398.28 | ||||||
| Trust Fees/Cost Reimbursement | $ | 16,789.57 | $ | - | $ | 16,789.57 | ||||||
| Voided Checks | $ | 60,840.14 | $ | 60,840.14 | $ | - | ||||||
| Total Other Disbursements | $ | 627,459.34 | ||||||||||
Exhibit 99.15
| Monthly Operating Report | |
| CASH BASIS |
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-41996 |
| JUDGE: | Russell Nelms |
UNITED STATES BANKRUPTCY COURT
NORTHERN & EASTERN DISTRICTS OF TEXAS
REGION 6
MONTHLY OPERATING REPORT
| MONTH ENDING: | June | 2015 | *Includes 5/19/15 to 5/31/15 | |
| MONTH | YEAR |
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (CASH BASIS-1 THROUGH CASH BASIS-6) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT, AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
RESPONSIBLE PARTY:
| /s/ H. Thomas Moran II | Trustee | |
| ORIGINAL SIGNATURE OF RESPONSIBLE PARTY | TITLE | |
| H. Thomas Moran II | 7/20/2015 | |
| PRINTED NAME OF RESPONSIBLE PARTY | DATE | |
| PREPARER: | ||
| /s/ Colette Pieper | CEO | |
| ORIGINAL SIGNATURE OF PREPARER | TITLE | |
| Colette Pieper | 7/20/2015 | |
| PRINTED NAME OF PREPARER | DATE |
| Monthly Operating Report | |
| CASH BASIS-1 |
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-41996 |
| CASH RECEIPTS AND | May 19, 2015 to | |||||||||||||||
| DISBURSEMENTS | Jun 30, 2015 | |||||||||||||||
| 1. CASH - BEGINNING OF MONTH | $ | 1,744,873.40 | ||||||||||||||
| RECEIPTS | ||||||||||||||||
| 2. CASH SALES | ||||||||||||||||
| 3. ACCOUNTS RECEIVABLE COLLECTIONS | $ | 732,318.72 | ||||||||||||||
| 4. LOANS AND ADVANCES | ||||||||||||||||
| 5. SALE OF ASSETS | ||||||||||||||||
| 6. LEASE & RENTAL INCOME | ||||||||||||||||
| 7. WAGES | ||||||||||||||||
| 8. OTHER (ATTACH LIST) | $ | 35,484.43 | 1 | |||||||||||||
| 9. TOTAL RECEIPTS | $ | 680,307.45 | ||||||||||||||
| DISBURSEMENTS | ||||||||||||||||
| 10. NET PAYROLL | ||||||||||||||||
| 11. PAYROLL TAXES PAID | ||||||||||||||||
| 12. SALES,USE & OTHER TAXES PAID | ||||||||||||||||
| 13. INVENTORY PURCHASES | ||||||||||||||||
| 14. MORTAGE PAYMENTS | ||||||||||||||||
| 15. OTHER SECURED NOTE PAYMENTS | ||||||||||||||||
| 16. RENTAL & LEASE PAYMENTS | ||||||||||||||||
| 17. UTILITIES | ||||||||||||||||
| 18. INSURANCE | ||||||||||||||||
| 19. VEHICLE EXPENSES | ||||||||||||||||
| 20. TRAVEL | ||||||||||||||||
| 21. ENTERTAINMENT | ||||||||||||||||
| 22. REPAIRS & MAINTENANCE | ||||||||||||||||
| 23. SUPPLIES (includes Postage of $9000) | $ | 9,507.37 | ||||||||||||||
| 24. ADVERTISING | ||||||||||||||||
| 25. HOUSEHOLD EXPENSES | ||||||||||||||||
| 26. CHARITABLE CONTRIBUTIONS | ||||||||||||||||
| 27. GIFTS | ||||||||||||||||
| 28. OTHER (ATTACH LIST) | $ | 293,549.24 | 1 | |||||||||||||
| 29. TOTAL ORDINARY DISBURSEMENTS | $ | 303,056.61 | ||||||||||||||
| REORGANIZATION EXPENSES | ||||||||||||||||
| 30. PROFESSIONAL FEES | ||||||||||||||||
| 31. U.S. TRUSTEE FEES | ||||||||||||||||
| 32. OTHER (ATTACH LIST) | ||||||||||||||||
| 33. TOTAL REORGANIZATION EXPENSES | $ | - | ||||||||||||||
| 34. TOTAL DISBURSEMENTS | $ | 303,056.61 | ||||||||||||||
| 35. NET CASH FLOW | $ | 377,250.84 | ||||||||||||||
| 36. CASH - END OF MONTH | $ | 2,122,124.24 | ||||||||||||||
1 See Exhibit 1 for attached list of Item 8. Other receipts and Item 28. Other disbursements.
| Monthly Operating Report |
| CASH BASIS-1A |
| 2015 |
| CASE NAME: |
LPI Financial Services, Inc. |
| CASE NUMBER: | 15-41996 |
| CASH DISBURSEMENTS DETAIL | MONTH: | June |
CASH DISBURSEMENTS
| DATE | PAYEE | PURPOSE | AMOUNT | |||||||||||||||
| TOTAL CASH DISBURSEMENTS | $ | - | ||||||||||||||||
BANK ACCOUNT DISBURSEMENTS
| CK# | DATE | PAYEE | PURPOSE | AMOUNT | ||||||
| TRANSFER | 05/26/15 | Transfer LPIFS 4376 to LPI0952 | Transfer to LPI bank account | $ | 3,441.77 | |||||
| PREAUTHACH | 06/01/15 | Preauthorized ACH | Supplies | $ | 219.73 | |||||
| PREAUTHACH | 06/03/15 | Credit Card Fees | Credit Card Processing Fees | $ | 5,059.18 | |||||
| 000105 | 06/10/15 | Purchase Escrow Service | Flow Thru Premiums | $ | 3,417.24 | |||||
| 000106 | 06/11/15 | Life Partners, Inc. | Dividends Forward to LPI | $ | 3.75 | |||||
| 000107 | 06/11/15 | Brian Fishman | Premiums Returned | $ | 3,011.52 | |||||
| CC FEE | 06/11/15 | Processing Fee-June Trans | Credit Card Processing Fees | $ | 133.80 | |||||
| BANK FEE | 06/12/15 | Bank of Texas | Bank Fees | $ | 890.61 | |||||
| FEE | 06/18/15 | Deluxe Bus Sys Products | Supplies | $ | 145.85 | |||||
| 2015062301 | 06/23/15 | Pitney Bowes Purchase Power | Postage | $ | 9,000.00 | |||||
| 001001 | 06/24/15 | Advance Trust & Life Es | Flow Thru Premiums | $ | 3,561.25 | |||||
| TRANSFER | 06/24/15 | Transfer Frm LPI FS to LPI | Transfer to LPI bank account | $ | 250,000.00 | |||||
| 001002 | 06/26/15 | Pitney Bowes Inc. | Supplies | $ | 141.79 | |||||
| 001003 | 06/26/15 | Advance Trust & Life Es | Flow Thru Premiums | $ | 18,486.27 | |||||
| 001004 | 06/29/15 | Advance Trust & Life Es | Flow Thru Premiums | $ | 5,543.85 | |||||
| TOTAL BANK ACCOUNT DISBURSEMENTS | $ | 303,056.61 | ||||||||
| TOTAL DISBURSEMENTS FOR THE MONTH | $ | 303,056.61 | ||||||||
1 Attached Exhibit 1 lists all disbursements by LPI, Inc. on behalf of LPHI
| Monthly Operating Report |
| CASH BASIS-2 |
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-41996 |
BANK RECONCILIATIONS
| Acct #1 | Acct #2 | Acct #3 | ||||||||||||||
| A. BANK: | Bank of Texas | |||||||||||||||
| B. ACCOUNT NUMBER: | 4069 | |||||||||||||||
| C. PURPOSE (TYPE): | Checking | TOTAL | ||||||||||||||
| 1. BALANCE PER BANK STATEMENT | $ | 2,127,809.88 | $ | 2,127,809.88 | ||||||||||||
| 2. ADD: TOTAL DEPOSITS NOT CREDITED | $ | - | ||||||||||||||
| 3. SUBTRACT: OUTSTANDING CHECKS | $ | 5,685.64 | $ | 5,685.64 | ||||||||||||
| 4. OTHER RECONCILING ITEMS | $ | - | ||||||||||||||
| 5. MONTH END BALANCE PER BOOKS | $ | 2,122,124.24 | $ | - | $ | - | $ | 2,122,124.24 | ||||||||
| 6. NUMBER OF LAST CHECK WRITTEN | 1004 | |||||||||||||||
INVESTMENT ACCOUNTS
| DATE OF | TYPE OF | CURRENT | ||||||||||||||
| BANK, ACCOUNT NAME & NUMBER | PURCHASE | INSTRUMENT | VALUE | |||||||||||||
| 7. | ||||||||||||||||
| 8. | ||||||||||||||||
| 9. | ||||||||||||||||
| 10. | ||||||||||||||||
| 11. TOTAL INVESTMENTS | $ | - | ||||||||||||||
| CASH | ||||||||||||||||
| 12. CURRENCY ON HAND | ||||||||||||||||
| 13. TOTAL CASH - END OF MONTH | $ | 2,122,124.24 | ||||||||||||||
| Monthly Operating Report |
| CASH BASIS-3 |
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-41996 |
| ASSETS OF THE ESTATE |
| SCHEDULE "A" | SCHEDULE | MONTH | MONTH | MONTH | ||||||||||||
| REAL PROPERTY | AMOUNT | June 30,2015 | ||||||||||||||
| 1. NONE | ||||||||||||||||
| 2. | ||||||||||||||||
| 3. | ||||||||||||||||
| 4. OTHER (ATTACH LIST) | ||||||||||||||||
| 5. TOTAL REAL PROPERTY ASSETS | $ | - | $ | - | $ | - | $ | - | ||||||||
| SCHEDULE "B" | ||||||||||||||||
| PERSONAL PROPERTY | ||||||||||||||||
| 1. CASH ON HAND | ||||||||||||||||
| 2. CHECKING, SAVINGS, ETC. | $ | 1,744,873.40 | $ | 2,122,124.24 | ||||||||||||
| 3. SECURITY DEPOSITS | ||||||||||||||||
| 4. HOUSEHOLD GOODS | ||||||||||||||||
| 5. BOOKS, PICTURES, ART | ||||||||||||||||
| 6. WEARING APPAREL | ||||||||||||||||
| 7. FURS AND JEWELRY | ||||||||||||||||
| 8. FIREARMS & SPORTS EQUIPMENT | ||||||||||||||||
| 9. INSURANCE POLICIES | unknown | unknown | ||||||||||||||
| 10. ANNUITIES | ||||||||||||||||
| 11. EDUCATION | ||||||||||||||||
| 12. RETIREMENT & PROFIT SHARING | ||||||||||||||||
| 13. STOCKS | ||||||||||||||||
| 14. PARTNERSHIPS & JOINT VENTURES | ||||||||||||||||
| 15. GOVERNMENT & CORPORATE BONDS | ||||||||||||||||
| 16. ACCOUNTS RECEIVABLE | $ | 6,899,018.44 | $ | 6,980,205.78 | ||||||||||||
| 17. ALIMONY | ||||||||||||||||
| 18. OTHER LIQUIDATED DEBTS | ||||||||||||||||
| 19. EQUITABLE INTERESTS | ||||||||||||||||
| 20. CONTINGENT INTERESTS | ||||||||||||||||
| 21. OTHER CLAIMS | ||||||||||||||||
| 22. PATENTS & COPYRIGHTS | ||||||||||||||||
| 23. LICENSES & FRANCHISES | ||||||||||||||||
| 24. CUSTOMER LISTS | ||||||||||||||||
| 25. AUTOS, TRUCKS & OTHER VEHICLES | ||||||||||||||||
| 26. BOATS & MOTORS | ||||||||||||||||
| 27. AIRCRAFT | ||||||||||||||||
| 28. OFFICE EQUIPMENT | ||||||||||||||||
| 29. MACHINERY, FIXTURES & EQUIPMENT | ||||||||||||||||
| 30. INVENTORY | ||||||||||||||||
| 31. ANIMALS | ||||||||||||||||
| 32. CROPS | ||||||||||||||||
| 33. FARMING EQUIPMENT | ||||||||||||||||
| 34. FARM SUPPLIES | ||||||||||||||||
| 35. OTHER (ATTACH LIST) | ||||||||||||||||
| 36. TOTAL PERSONAL PROPERTY ASSETS | $ | 8,643,891.84 | $ | 9,102,330.02 | $ | - | $ | - | ||||||||
| 37. TOTAL ASSETS | $ | 8,643,891.84 | $ | 9,102,330.02 | $ | - | $ | - | ||||||||
| Monthly Operating Report |
| CASH BASIS-4 |
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-41996 |
| MONTH: | June | |
| LIABILITIES OF THE ESTATE |
| PREPETITION | SCHEDULE | |||||||||||||||
| LIABILITIES | AMOUNT | PAYMENTS | ||||||||||||||
| 1. SECURED | ||||||||||||||||
| 2. PRIORITY | unknown | |||||||||||||||
| 3. UNSECURED | $ | 9,000.77 | ||||||||||||||
| 4. OTHER (ATTACH LIST) | ||||||||||||||||
| 5. TOTAL PREPETITION LIABILITIES | $ | 9,000.77 | $ | - | ||||||||||||
| POSTPETITION | DATE | AMOUNT | DUE | AMOUNT | ||||||||||||
| LIABILITIES | INCURRED | OWED | DATE | PAST DUE | ||||||||||||
| 1. FEDERAL INCOME TAXES | ||||||||||||||||
| 2. FICA/MEDICARE | ||||||||||||||||
| 3. STATE TAXES | ||||||||||||||||
| 4. REAL ESTATE TAXES | ||||||||||||||||
| 5. OTHER TAXES (ATTACH LIST) | ||||||||||||||||
| 6. TOTAL TAXES | $ | - | $ | - | ||||||||||||
| OTHER POSTPETITION LIABILITIES INCLUDING TRADE CREDITORS (LIST NAMES OF CREDITORS) | ||||||||||||||||
| 7. Preferred Trust Company | 06/09/15 | $ | 1,439.22 | 06/26/15 | $ | 1,439.22 | 2 | |||||||||
| 8. | ||||||||||||||||
| 9. | ||||||||||||||||
| 10. | ||||||||||||||||
| 11. | ||||||||||||||||
| 12. | ||||||||||||||||
| 13. | ||||||||||||||||
| 14. | ||||||||||||||||
| 15. | ||||||||||||||||
| 16. | ||||||||||||||||
| 17. | ||||||||||||||||
| 18. | ||||||||||||||||
| 19. | ||||||||||||||||
| 20. | ||||||||||||||||
| 21. | ||||||||||||||||
| 22. | ||||||||||||||||
| 23. | ||||||||||||||||
| 24. | ||||||||||||||||
| 25. | ||||||||||||||||
| 26. | ||||||||||||||||
| 27. | ||||||||||||||||
| 28. | ||||||||||||||||
| 29. (IF ADDITIONAL ATTACH LIST) | ||||||||||||||||
| 30. TOTAL OF LINES 7 - 29 | $ | 1,439.22 | $ | 1,439.22 | ||||||||||||
| 31. TOTAL POSTPETITION LIABILITIES | $ | 1,439.22 | $ | 1,439.22 | ||||||||||||
2 Awaiting direction on where to forward funds to.
| Monthly Operating Report |
| CASH BASIS-4A |
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-41996 |
| MONTH: | June |
ACCOUNTS RECEIVABLE AGING
| SCHEDULE | MONTH | MONTH | MONTH | |||||||||||||
| AMOUNT | June 30,2015 | |||||||||||||||
| 1. 0 - 30 | ||||||||||||||||
| 2. 31 - 60 | $ | 803,662.42 | ||||||||||||||
| 3. 61 - 90 | $ | 605,497.15 | ||||||||||||||
| 4. 91 + | $ | 1,937,444.76 | $ | 1,960,475.76 | ||||||||||||
| 5. TOTAL ACCOUNTS RECEIVABLE | $ | 2,741,107.18 | $ | 2,565,972.91 | $ | - | $ | - | ||||||||
| 6. AMOUNT CONSIDERED UNCOLLECTIBLE | ||||||||||||||||
| 7. ACCOUNTS RECEIVABLE (NET) | $ | 2,741,107.18 | $ | 2,565,972.91 | $ | - | $ | - | ||||||||
AGING OF POSTPETITION TAXES AND PAYABLES
| 0 - 30 | 31-60 | 90+ | Total | |||||||||||||
| TAXES PAYABLE | DAYS | DAYS | DAYS | |||||||||||||
| 1. FEDERAL | $ | - | ||||||||||||||
| 2. STATE | $ | - | ||||||||||||||
| 3. LOCAL | $ | - | ||||||||||||||
| 4. OTHER (ATTACH LIST) | $ | - | ||||||||||||||
| 5. TOTAL TAXES PAYABLE | $ | - | $ | - | $ | - | $ | - | ||||||||
| 6. ACCOUNTS PAYABLE | $ | - | $ | - |
STATUS OF POSTPETITION TAXES
| BEGINNING | AMOUNT | ENDING | ||||||||||||||
| TAX | WITHHELD | AMOUNT | TAX | |||||||||||||
| FEDERAL | LIABILITY | OR ACCRUED | PAID | LIABILITY | ||||||||||||
| 1. WITHHOLDING | $ | - | ||||||||||||||
| 2. FICA-EMPLOYEE | $ | - | ||||||||||||||
| 3. FICA-EMPLOYER | $ | - | ||||||||||||||
| 4. UNEMPLOYMENT | $ | - | ||||||||||||||
| 5. INCOME | $ | - | ||||||||||||||
| 6. OTHER (ATTACH LIST) | $ | - | ||||||||||||||
| 7. TOTAL FEDERAL TAXES | $ | - | $ | - | $ | - | $ | - | ||||||||
| STATE AND LOCAL | $ | - | ||||||||||||||
| 8. WITHHOLDING | $ | - | ||||||||||||||
| 9. SALES | $ | - | ||||||||||||||
| 10. EXCISE | $ | - | ||||||||||||||
| 11. UNEMPLOYMENT | $ | - | ||||||||||||||
| 12. REAL PROPERTY | $ | - | ||||||||||||||
| 13. PERSONAL PROPERTY | $ | - | ||||||||||||||
| 14. OTHER (ATTACH LIST) | $ | - | ||||||||||||||
| 15. TOTAL STATE & LOCAL | $ | - | $ | - | $ | - | $ | - | ||||||||
| 16. TOTAL TAXES | $ | - | $ | - | $ | - | $ | - |
| Monthly Operating Report |
| CASH BASIS-5 |
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-41996 |
| MONTH: | June |
PAYMENTS TO INSIDERS AND PROFESSIONALS
| INSIDERS | ||||||||||||
| NAME | TYPE OF PAYMENT | AMOUNT PAID | TTL PD TO DATE | |||||||||
| 6. | ||||||||||||
| TOTAL PAYMENTS TO INSIDERS | $ | - | $ | - | ||||||||
PROFESSIONALS
| DATE OF COURT ORDER | AMOUNT | AMOUNT | TTL PAID | TOTAL INCURRED | ||||||||||||||||
| NAME | AUTHORIZING PAYMENT | APPROVED | PAID | TO DATE | & UNPAID | |||||||||||||||
| 1. Asset Servicing Group | $ | 167,656.00 | 11 | |||||||||||||||||
| 2. Bridgepoint Consulting | $ | 70,391.90 | 11 | |||||||||||||||||
| 3. Epiq Bankruptcy Solutions | $ | 430,596.00 | 11 | |||||||||||||||||
| 4. Kim Hinkle, Attorney at Law | $ | 46,400.00 | 11 | |||||||||||||||||
| 5. MMS Advisors | $ | 36,000.00 | 11 | |||||||||||||||||
| 6. Munsch, Hardt, Kopf & Harr,P.C. | $ | 150,000.00 | 11 | |||||||||||||||||
| 7. Thompson & Knight LLP | $ | 1,100,000.00 | 11 | |||||||||||||||||
| 8. Tom Moran, US Trustee | $ | 109,800.00 | 11 | |||||||||||||||||
| TOTAL PAYMENTS TO PROFESSIONALS | $ | - | $ | - | $ | - | $ | 2,110,843.90 | ||||||||||||
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
| SCHEDULED | AMOUNTS | TOTAL | ||||||||||
| MONTHLY | PAID | UNPAID | ||||||||||
| PAYMENTS | DURING | POST- | ||||||||||
| NAME OF CREDITOR | DUE | MONTH | PETITION | |||||||||
| 1. | $ | - | ||||||||||
| 2. | $ | - | ||||||||||
| 3. | $ | - | ||||||||||
| 4. | $ | - | ||||||||||
| 5. | $ | - | ||||||||||
| 6. TOTAL | $ | - | $ | - | $ | - |
11 Professional fees and expenses estimated and accrued prior to May 19th are reflected only on the books of Life Partners Holdings, Inc. Thereafter, professional fees and expenses reflect the estimated aggregate, unallocated fees and expenses for all of the Debtors, and are noted on each of the Debtors MORs.
| Monthly Operating Report |
| CASH BASIS-6 |
| 2015 |
| CASE NAME: | LPI Financial Services, Inc. |
| CASE NUMBER: | 15-41996 |
| MONTH: | June |
QUESTIONNAIRE
| YES | NO | |||||
| 1. | HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? | X | ||||
| 2. | HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? | X | ||||
| 3. | ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES OR LOANS) DUE FROM RELATED PARTIES? | X | ||||
| 4. | HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? | X | ||||
| 5. | HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? | X | ||||
| 6. | ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? | X | ||||
| 7. | ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? | X | ||||
| 8. | ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? | X | ||||
| 9. | ARE ANY OTHER POSTPETITION TAXES PAST DUE? | X | ||||
| 10. | ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? | X | ||||
| 11. | HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? | X | ||||
| 12. | ARE ANY WAGE PAYMENTS PAST DUE? | X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES"; PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
Item 2. Check written pre-petition cleared the bank post-petition. See Exhibit 1 for checks.
Questionnaire Item 4. Approval of Motion authorizing payments of pre-petition amounts owed to Utility Companies 6/17/15 Dkt. No. 483
INSURANCE
| YES | NO | |||||
| 1. | ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? | X | ||||
| 2. | ARE ALL PREMIUM PAYMENTS PAID CURRENT? | X | ||||
| 3. | PLEASE ITEMIZE POLICIES BELOW | X |
| IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO" OR IF ANY POLICIES HAVE BEEN CANCELED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY. |
INSTALLMENT PAYMENTS
| TYPE OF | PERIOD | PAYMENT AMOUNT | ||||||
| POLICY | CARRIER | COVERED | & FREQUENCY | |||||
| LPI Financial Services, Inc. Case No. 15-41996 | EXHIBIT 1 |
| Other Receipts and Disbursements | |
| 30-Jun-15 |
| OTHER RECEIPTS: | Received | Returned | Total | |||||||||
| Dividends Forward to LPI | $ | 3.75 | $ | - | $ | 3.75 | ||||||
| Flow Thru Premiums | $ | 32,447.83 | $ | - | $ | 32,447.83 | ||||||
| Premiums Returned | $ | 3,011.52 | $ | - | $ | 3,011.52 | ||||||
| Spoiled Postage Refund | $ | 21.33 | $ | - | $ | 21.33 | ||||||
| Total Other Receipts | $ | 35,484.43 | ||||||||||
| OTHER DISBURSEMENTS: | Disbursed | Returned | Total | |||||||||
| Bank Fees | $ | 890.61 | $ | 890.61 | ||||||||
| Credit Card Processing Fees | $ | 5,192.98 | $ | 5,192.98 | ||||||||
| Dividends Forward to LPI | $ | 3.75 | $ | 3.75 | ||||||||
| Flow Thru Premiums | $ | 31,008.61 | $ | 31,008.61 | ||||||||
| Premiums Returned | $ | 3,011.52 | $ | 3,011.52 | ||||||||
| Transfer to LPI | $ | 250,000.00 | $ | 250,000.00 | ||||||||
| Transfer to LPI bank account | $ | 3,441.77 | $ | 3,441.77 | ||||||||
| Voided Checks | $ | 9,440.28 | $ | 9,440.28 | $ | - | ||||||
| Total Other Disbursements | $ | 293,549.24 | ||||||||||
Exhibit 99.16
Monthly Operating Report
CASH BASIS
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| JUDGE: | Russell Nelms |
UNITED STATES BANKRUPTCY COURT
NORTHERN & EASTERN DISTRICTS OF TEXAS
REGION 6
MONTHLY OPERATING REPORT
| MONTH ENDING: | May | 2015 | ||||
| MONTH | YEAR |
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (CASH BASIS-1 THROUGH CASH BASIS-6) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT, AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
| RESPONSIBLE PARTY: | ||
| /s/ H. Thomas Moran II | Trustee | |
| ORIGINAL SIGNATURE OF RESPONSIBLE PARTY | TITLE | |
| H. Thomas Moran II | 6/19/2015 | |
| PRINTED NAME OF RESPONSIBLE PARTY | DATE | |
| PREPARER: | ||
| /s/ Colette Pieper | CEO | |
| ORIGINAL SIGNATURE OF PREPARER | TITLE | |
| Colette Pieper | 6/19/2015 | |
| PRINTED NAME OF PREPARER | DATE |
Monthly Operating Report
CASH BASIS-1
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| CASH RECEIPTS AND | Jan 21, 2015 to | MONTH | MONTH | MONTH | |||||||||
| DISBURSEMENTS | Feb 28, 2015 | Mar 31, 2015 | Apr 30,2015 | May 31,2015 | |||||||||
| 1. CASH - BEGINNING OF MONTH | $ | 51,248.28 | $ | 59,637.28 | $ | 34,256.39 | $ | 12,603.29 | |||||
| RECEIPTS | |||||||||||||
| 2. CASH SALES | |||||||||||||
| 3. ACCOUNTS RECEIVABLE COLLECTIONS | |||||||||||||
| 4. LOANS AND ADVANCES | |||||||||||||
| 5. SALE OF ASSETS | |||||||||||||
| 6. LEASE & RENTAL INCOME | $ | 10,500.00 | $ | 10,000.00 | $ | 10,000.00 | $ | 10,000.00 | |||||
| 7. WAGES | |||||||||||||
| 8. OTHER (ATTACH LIST) | $ | 12.43 | $ | 0.21 | $ | 61,398.28 | 2 | ||||||
| 9. TOTAL RECEIPTS | $ | 10,512.43 | $ | 10,000.21 | $ | 10,000.00 | $ | 71,398.28 | |||||
| DISBURSEMENTS | |||||||||||||
| 10. NET PAYROLL | |||||||||||||
| 11. PAYROLL TAXES PAID | |||||||||||||
| 12. SALES,USE & OTHER TAXES PAID | |||||||||||||
| 13. INVENTORY PURCHASES | |||||||||||||
| 14. MORTAGE PAYMENTS | |||||||||||||
| 15. OTHER SECURED NOTE PAYMENTS | |||||||||||||
| 16. RENTAL & LEASE PAYMENTS | |||||||||||||
| 17. UTILITIES | |||||||||||||
| 18. INSURANCE | $ | 1,048.43 | $ | 35,346.78 | $ | 1,058.43 | $ | 1,054.43 | |||||
| 19. VEHICLE EXPENSES | |||||||||||||
| 20. TRAVEL | |||||||||||||
| 21. ENTERTAINMENT | |||||||||||||
| 22. REPAIRS & MAINTENANCE | |||||||||||||
| 23. SUPPLIES | $ | 433.02 | |||||||||||
| 24. ADVERTISING | |||||||||||||
| 25. HOUSEHOLD EXPENSES | |||||||||||||
| 26. CHARITABLE CONTRIBUTIONS | |||||||||||||
| 27. GIFTS | |||||||||||||
| 28. OTHER (ATTACH LIST) | $ | 1,075.00 | $ | 34.32 | $ | 28,211.65 | $ | 61,587.24 | 2 | ||||
| 29. TOTAL ORDINARY DISBURSEMENTS | $ | 2,123.43 | $ | 35,381.10 | $ | 29,703.10 | $ | 62,641.67 | |||||
| REORGANIZATION EXPENSES | |||||||||||||
| 30. PROFESSIONAL FEES | |||||||||||||
| 31. U.S. TRUSTEE FEES | $ | 1,950.00 | |||||||||||
| 32. OTHER (ATTACH LIST) | |||||||||||||
| 33. TOTAL REORGANIZATION EXPENSES | $ | - | $ | - | $ | 1,950.00 | $ | - | |||||
| 34. TOTAL DISBURSEMENTS | $ | 2,123.43 | $ | 35,381.10 | $ | 31,653.10 | $ | 62,641.67 | 1 | ||||
| 35. NET CASH FLOW | $ | 8,389.00 | $ | (25,380.89 | ) | $ | (21,653.10 | ) | $ | 8,756.61 | |||
| 36. CASH - END OF MONTH | $ | 59,637.28 | $ | 34,256.39 | $ | 12,603.29 | $ | 21,359.90 | |||||
| 1 | Attached Exhibit 1 lists all disbursements by LPI, Inc. on behalf of LPHI for the month. |
| 2 | Attached Exhibit 3 list receipts in '8. Other' and disbursements in '28. Other' above. |
Monthly Operating Report
CASH BASIS-1A
2015
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| CASH DISBURSEMENTS DETAIL | MONTH: | May |
CASH DISBURSEMENTS
| DATE | PAYEE | PURPOSE | AMOUNT | |||||||||
| TOTAL CASH DISBURSEMENTS | $ | - | ||||||||||
BANK ACCOUNT DISBURSEMENTS
| CK# | DATE | PAYEE | PURPOSE | AMOUNT | ||||||
| 5/15/2015 | Bank Acct Analysis Fee | $ | 27.96 | |||||||
| 1012 | 05/06/15 | Allied Insurance | Business Insurance | $ | 1,054.43 | |||||
| 1013 | 05/06/15 | American Express | Filing Fees | $ | 161.00 | |||||
| wire | 05/29/15 | Life Partners, Inc. | Return tfr in error | $ | 61,398.28 | |||||
| TOTAL BANK ACCOUNT DISBURSEMENTS | $ | 62,641.67 | ||||||||
| TOTAL DISBURSEMENTS FOR THE MONTH | $ | 62,641.67 | 1 | |||||||
| 1 | Attached Exhibit 1 lists all disbursements by LPI, Inc. on behalf of LPHI for the month. |
Monthly Operating Report
CASH BASIS-2
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
BANK RECONCILIATIONS
| Acct #1 | Acct #2 | Acct #3 | ||||||||||||||
| A. BANK: | Bank of America | Alliance | Bank of Texas | |||||||||||||
| B. ACCOUNT NUMBER: | 3363 | 0613 | 3772 | |||||||||||||
| C. PURPOSE (TYPE): | DIP Acct | MM | Checking | TOTAL | ||||||||||||
| 1. BALANCE PER BANK STATEMENT | $ | - | $ | - | $ | 21,359.90 | $ | 21,359.90 | ||||||||
| 2. ADD: TOTAL DEPOSITS NOT CREDITED | $ | - | ||||||||||||||
| 3. SUBTRACT: OUTSTANDING CHECKS | $ | - | ||||||||||||||
| 4. OTHER RECONCILING ITEMS | $ | - | ||||||||||||||
| 5. MONTH END BALANCE PER BOOKS | $ | - | $ | - | $ | 21,359.90 | $ | 21,359.90 | ||||||||
| 6. NUMBER OF LAST CHECK WRITTEN | 1013 | |||||||||||||||
INVESTMENT ACCOUNTS
| DATE OF | TYPE OF | PURCHASE | CURRENT | |||||||||||||
| BANK, ACCOUNT NAME & NUMBER | PURCHASE | INSTRUMENT | PRICE | VALUE | ||||||||||||
| 7. | ||||||||||||||||
| 8. | ||||||||||||||||
| 9. | ||||||||||||||||
| 10. | ||||||||||||||||
| 11. TOTAL INVESTMENTS | $ | - | $ | - | ||||||||||||
| CASH | ||||||||||||||||
| 12. CURRENCY ON HAND | $ | - | ||||||||||||||
| 13. TOTAL CASH - END OF MONTH | $ | 21,359.90 | ||||||||||||||
Monthly Operating Report
CASH BASIS-3
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
ASSETS OF THE ESTATE
| SCHEDULE "A" | SCHEDULE | MONTH | MONTH | MONTH | MONTH | |||||||||||
| REAL PROPERTY | AMOUNT | Feb 28, 2015 | Mar 31, 2015 | Apr 30,2015 | May 31,2015 | |||||||||||
| 1. 204 Woodhew Dr. Waco, TX 76712 | $ | 1,079,495.09 | $ | 1,079,495.09 | $ | 1,079,495.09 | $ | 1,079,495.09 | $ | 1,079,495.09 | ||||||
| 2. 8225 Central Park Dr. Waco, TX 76712 | $ | 1,109,143.75 | $ | 1,109,143.75 | $ | 1,109,143.75 | $ | 1,109,143.75 | $ | 1,109,143.75 | ||||||
| 3. | ||||||||||||||||
| 4. OTHER (ATTACH LIST) | ||||||||||||||||
| 5. TOTAL REAL PROPERTY ASSETS | $ | 2,188,638.84 | $ | 2,188,638.84 | $ | 2,188,638.84 | $ | 2,188,638.84 | $ | 2,188,638.84 | ||||||
| SCHEDULE "B" | ||||||||||||||||
| PERSONAL PROPERTY | ||||||||||||||||
| 1. CASH ON HAND | ||||||||||||||||
| 2. CHECKING, SAVINGS, ETC. | $ | 51,248.28 | $ | 59,637.28 | $ | 34,256.39 | $ | 12,603.29 | $ | 21,359.90 | ||||||
| 3. SECURITY DEPOSITS | ||||||||||||||||
| 4. HOUSEHOLD GOODS | ||||||||||||||||
| 5. BOOKS, PICTURES, ART | $ | 166,250.00 | $ | 166,250.00 | $ | 166,250.00 | $ | 166,250.00 | $ | 166,250.00 | ||||||
| 6. WEARING APPAREL | ||||||||||||||||
| 7. FURS AND JEWELRY | ||||||||||||||||
| 8. FIREARMS & SPORTS EQUIPMENT | ||||||||||||||||
| 9. INSURANCE POLICIES | ||||||||||||||||
| 10. ANNUITIES | ||||||||||||||||
| 11. EDUCATION | ||||||||||||||||
| 12. RETIREMENT & PROFIT SHARING | ||||||||||||||||
| 13. STOCKS | unknown | unknown | unknown | unknown | unknown | 3 | ||||||||||
| 14. PARTNERSHIPS & JOINT VENTURES | ||||||||||||||||
| 15. GOVERNMENT & CORPORATE BONDS | ||||||||||||||||
| 16. ACCOUNTS RECEIVABLE | ||||||||||||||||
| 17. ALIMONY | ||||||||||||||||
| 18. OTHER LIQUIDATED DEBTS | ||||||||||||||||
| 19. EQUITABLE INTERESTS | ||||||||||||||||
| 20. CONTINGENT INTERESTS | ||||||||||||||||
| 21. OTHER CLAIMS | ||||||||||||||||
| 22. PATENTS & COPYRIGHTS | ||||||||||||||||
| 23. LICENSES & FRANCHISES | ||||||||||||||||
| 24. CUSTOMER LISTS | ||||||||||||||||
| 25. AUTOS, TRUCKS & OTHER VEHICLES | ||||||||||||||||
| 26. BOATS & MOTORS | ||||||||||||||||
| 27. AIRCRAFT | ||||||||||||||||
| 28. OFFICE EQUIPMENT | ||||||||||||||||
| 29. MACHINERY, FIXTURES & EQUIPMENT | ||||||||||||||||
| 30. INVENTORY | ||||||||||||||||
| 31. ANIMALS | ||||||||||||||||
| 32. CROPS | ||||||||||||||||
| 33. FARMING EQUIPMENT | ||||||||||||||||
| 34. FARM SUPPLIES | ||||||||||||||||
| 35. OTHER (ATTACH LIST) | ||||||||||||||||
| 36. TOTAL PERSONAL PROPERTY ASSETS | $ | 217,498.28 | $ | 225,887.28 | $ | 200,506.39 | $ | 178,853.29 | $ | 187,609.90 | ||||||
| 37. TOTAL ASSETS | $ | 2,406,137.12 | $ | 2,414,526.12 | $ | 2,389,145.23 | $ | 2,367,492.13 | $ | 2,376,248.74 | ||||||
| 3 | Item 13. Stocks: Value of LPI not included since financials were historically consolidated for reporting. |
Monthly Operating Report
CASH BASIS-4
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | May |
LIABILITIES OF THE ESTATE
| PREPETITION | SCHEDULE | |||||||
| LIABILITIES | AMOUNT | PAYMENTS | ||||||
| 1. SECURED | $ | 267,504.86 | $ | 137,153.41 | 4 | |||
| 2. PRIORITY | $ | 3,991,351.00 | ||||||
| 3. UNSECURED | $ | 48,518,137.38 | ||||||
| 4. OTHER (ATTACH LIST) | ||||||||
| 5. TOTAL PREPETITION LIABILITIES | $ | 52,776,993.24 | $ | 137,153.41 | ||||
| POSTPETITION | DATE | AMOUNT | DUE | AMOUNT | ||||||||||||
| LIABILITIES | INCURRED | OWED | DATE | PAST DUE | ||||||||||||
| 1. FEDERAL INCOME TAXES | ||||||||||||||||
| 2. FICA/MEDICARE | ||||||||||||||||
| 3. STATE TAXES | ||||||||||||||||
| 4. REAL ESTATE TAXES | ||||||||||||||||
| 5. OTHER TAXES (ATTACH LIST) | ||||||||||||||||
| 6. TOTAL TAXES | $ | - | $ | - | ||||||||||||
| OTHER POSTPETITION LIABILITIES INCLUDING TRADE CREDITORS (LIST NAMES OF CREDITORS) | 5 | |||||||||||||||
| 7. Alexander Dubose Jefferson & Townsend LLP | $ | 21,197.17 | ||||||||||||||
| 8. AFCO (See Exhibit 2) | $ | - | ||||||||||||||
| 9. American Stock Transfer | $ | 4,250.00 | ||||||||||||||
| 10. Law Offices of Douglas M. Berman, PLLC | $ | 22,376.25 | ||||||||||||||
| 11. Kevin Buchanan & Associates, P.L.L.C. | $ | 144,954.96 | 8 | |||||||||||||
| 12. Carrington, Coleman, Sloman & Blumenthal, L.L.P. | $ | 541.00 | ||||||||||||||
| 13. First Advantage Litigation Consulting | $ | 11,535.00 | ||||||||||||||
| 14. Forshey & Prostok, LLP - IOLTA | $ | 139,705.93 | 9 | |||||||||||||
| 15. Horwood, Marcus & Berk | $ | 8,615.00 | ||||||||||||||
| 16. HSPG & Associates, PC | $ | 23,287.02 | ||||||||||||||
| 17. Hudson & Calleja, LLC | $ | 1,975.00 | ||||||||||||||
| 18. The Johnson Law Firm | $ | 6,881.90 | ||||||||||||||
| 19. Kyle Mathis & Lucas LLP | $ | 1,367.97 | ||||||||||||||
| 20. C. Alfred Mackenzie | $ | 4,792.50 | ||||||||||||||
| 21. Meadows Collier Attorneys at Law | $ | 15,341.47 | ||||||||||||||
| 22. Meyer, Unkovic & Scott LLP | $ | 2,691.14 | ||||||||||||||
| 23. Shackelford, Melton & McKinley | $ | 60.00 | ||||||||||||||
| 24. Squire Patton Boggs (US) LLP | $ | 4,936.22 | ||||||||||||||
| 25. West & Associates, L.L.P | $ | 10,165.00 | ||||||||||||||
| 26. Whitley Penn | $ | 61,354.63 | ||||||||||||||
| 27. Asset Servicing Group | $ | 370,000.00 | 10 | |||||||||||||
| 28. Kim Hinkle, Attorney at Law | $ | 75,250.00 | 10 | |||||||||||||
| 29. MMS Advisors | $ | 287,500.00 | 10 | |||||||||||||
| 29. Pronske Goolsby & Kathman, P.C. | $ | 28,617.68 | 11 | |||||||||||||
| 29. Thompson & Knight LLP | $ | 2,100,000.00 | 10 | |||||||||||||
| 29. Tom Moran, US Trustee | $ | 149,000.00 | 10 | |||||||||||||
| 29. (IF ADDITIONAL ATTACH LIST) | ||||||||||||||||
| 30. TOTAL OF LINES 7 - 29 | $ | 3,496,395.84 | $ | - | ||||||||||||
| 31. TOTAL POSTPETITION LIABILITIES | $ | 3,496,395.84 | $ | - | ||||||||||||
| 4 | Secured Prepetition Liability Payments were paid to AFCO on promissory note for D&O and E&O insurance as follows: |
$ 34,288.35 Payments by Life Partners Holdings, Inc.
$ 102,865.06 Payments by Life Partners, Inc. on behalf of LPHI.
| 5 | See Exhibit 2 for detail of Postpetition Liabilities. |
| 8 | See note on Exhibit 2 |
| 9 | Amount shown here does not included pre-petition expenses that are included in the total figure on CASH BASIS-5. |
| 10 | These amounts are estimated, are not included on Exhibit 2, and are included in the 0-30 day category on CASH BASIS-4A. |
| 11 | Not included on Exhibit 2. |
Monthly Operating Report
CASH BASIS-4A
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | May |
ACCOUNTS RECEIVABLE AGING
| SCHEDULE | ||||||||||||||||
| AMOUNT | MONTH | MONTH | MONTH | |||||||||||||
| 1. 0 - 30 | ||||||||||||||||
| 2. 31 - 60 | ||||||||||||||||
| 3. 61 - 90 | ||||||||||||||||
| 4. 91 + | ||||||||||||||||
| 5. TOTAL ACCOUNTS RECEIVABLE | $ | - | $ | - | $ | - | $ | - | ||||||||
| 6. AMOUNT CONSIDERED UNCOLLECTIBLE | ||||||||||||||||
| 7. ACCOUNTS RECEIVABLE (NET) | $ | - | $ | - | $ | - | $ | - | ||||||||
AGING OF POSTPETITION TAXES AND PAYABLES
| 0 – 30 | 31-60 | 90+ | |||||||||||
| TAXES PAYABLE | DAYS | DAYS | DAYS | Total | |||||||||
| 1. FEDERAL | $ | - | |||||||||||
| 2. STATE | $ | - | |||||||||||
| 3. LOCAL | $ | - | |||||||||||
| 4. OTHER (ATTACH LIST) | $ | - | |||||||||||
| 5. TOTAL TAXES PAYABLE | $ | - | $ | - | $ | - | $ | - | |||||
| 6. ACCOUNTS PAYABLE | $ | 2,990,502.50 | $ | 27,716.37 | $ | 478,176.97 | $ | 3,496,395.84 | 5 | ||||
STATUS OF POSTPETITION TAXES
| BEGINNING | AMOUNT | ENDING | ||||||||||||||
| TAX | WITHHELD | AMOUNT | TAX | |||||||||||||
| FEDERAL | LIABILITY | OR ACCRUED | PAID | LIABILITY | ||||||||||||
| 1. WITHHOLDING | $ | - | ||||||||||||||
| 2. FICA-EMPLOYEE | $ | - | ||||||||||||||
| 3. FICA-EMPLOYER | $ | - | ||||||||||||||
| 4. UNEMPLOYMENT | $ | - | ||||||||||||||
| 5. INCOME | $ | - | ||||||||||||||
| 6. OTHER (ATTACH LIST) | $ | - | ||||||||||||||
| 7. TOTAL FEDERAL TAXES | $ | - | $ | - | $ | - | $ | - | ||||||||
| STATE AND LOCAL | $ | - | ||||||||||||||
| 8. WITHHOLDING | $ | - | ||||||||||||||
| 9. SALES | $ | - | ||||||||||||||
| 10. EXCISE | $ | - | ||||||||||||||
| 11. UNEMPLOYMENT | $ | - | ||||||||||||||
| 12. REAL PROPERTY | $ | - | ||||||||||||||
| 13. PERSONAL PROPERTY | $ | - | ||||||||||||||
| 14. OTHER (ATTACH LIST) | $ | - | ||||||||||||||
| 15. TOTAL STATE & LOCAL | $ | - | $ | - | $ | - | $ | - | ||||||||
| 16. TOTAL TAXES | $ | - | $ | - | $ | - | $ | - | ||||||||
| 5 | See Exhibit 2 for detail of Postpetition Liabilities |
Monthly Operating Report
CASH BASIS-5
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | May |
PAYMENTS TO INSIDERS AND PROFESSIONALS
| INSIDERS | ||||||||||||
| NAME | TYPE OF PAYMENT | AMOUNT PAID | TTL PD TO DATE | |||||||||
| 1. | ||||||||||||
| 2. | ||||||||||||
| 3. | ||||||||||||
| 4. | ||||||||||||
| 5. | ||||||||||||
| TOTAL PAYMENTS TO INSIDERS | $ | - | $ | - | ||||||||
| PROFESSIONALS | ||||||||||||||||||||
| DATE OF COURT ORDER | AMOUNT | AMOUNT | TTL PAID | TOTAL INCURRED | ||||||||||||||||
| NAME | AUTHORIZING PAYMENT | APPROVED | PAID | TO DATE | & UNPAID | |||||||||||||||
| 1. Asset Servicing Group | $ | 370,000.00 | ||||||||||||||||||
| 2. Forshey & Prostok, LLP | 04/28/15 | $ | 154,409.11 | $ | 57,613.14 | $ | 96,795.97 | 6 | ||||||||||||
| 3. Kevin Buchanan & Associates | $ | 144,954.96 | ||||||||||||||||||
| 4. Kim Hinkle, Attorney at Law | $ | 75,250.00 | ||||||||||||||||||
| 5. MMS Advisors | $ | 287,500.00 | ||||||||||||||||||
| 6. Pronske Goolsby & Kathman, P.C. | 05/05/15 | $ | 128,617.68 | $ | 100,000.00 | $ | 28,617.68 | 6 | ||||||||||||
| 7. Thompson & Knight LLP | $ | 2,100,000.00 | ||||||||||||||||||
| 8. Tom Moran, US Trustee | $ | 149,000.00 | ||||||||||||||||||
| TOTAL PAYMENTS TO PROFESSIONALS | $ | 283,026.79 | $ | - | $ | 157,613.14 | $ | 3,252,118.61 | ||||||||||||
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
| SCHEDULED | AMOUNTS | TOTAL | ||||||||||
| MONTHLY | PAID | UNPAID | ||||||||||
| PAYMENTS | DURING | POST- | ||||||||||
| NAME OF CREDITOR | DUE | MONTH | PETITION | |||||||||
| 1. | ||||||||||||
| 2. | ||||||||||||
| 3. | ||||||||||||
| 4. | ||||||||||||
| 5. | ||||||||||||
| 6. TOTAL | $ | - | $ | - | $ | - | ||||||
| 6 | The payments reflected here are retainers paid in prior months by Life Partners, Inc. |
Monthly Operating Report
CASH BASIS-6
2015
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | May |
QUESTIONNAIRE
| YES | NO | |||||
| 1. | HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? | X | ||||
| 2. | HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? | X | ||||
| 3. | ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES OR LOANS) DUE FROM RELATED PARTIES? | X | ||||
| 4. | HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? | X | ||||
| 5. | HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? | X | ||||
| 6. | ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? | X | ||||
| 7. | ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? | X | ||||
| 8. | ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? | X | ||||
| 9. | ARE ANY OTHER POSTPETITION TAXES PAST DUE? | X | ||||
| 10. | ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? | X | ||||
| 11. | HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? | X | ||||
| 12. | ARE ANY WAGE PAYMENTS PAST DUE? | X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES"; PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
Questionnaire Item 2. See Exhibit 1.
Questionnaire Item 4. Approval of Motion for relief from automatic stay to pay AFCO for D&O insurance at 2/9/15 Hearing; payments not made this reporting period.
Questionnaire Item 5. Bank Direct Capital Finance agreement for Cyber Risk Policy from Beazley Insurance.
Questionnaire Item 10. Past Due amounts are mainly professional fees incurred after the filing date. See Exhibit 2.
INSURANCE
| YES | NO | |||||
| 1. | ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? | X | ||||
| 2. | ARE ALL PREMIUM PAYMENTS PAID CURRENT? | X | ||||
| 3. | PLEASE ITEMIZE POLICIES BELOW | X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO" OR IF ANY POLICIES HAVE BEEN CANCELED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSTALLMENT PAYMENTS
| TYPE OF | PERIOD | PAYMENT AMOUNT | ||||||
| POLICY | CARRIER | COVERED | & FREQUENCY | |||||
| Directors & Officers | Illinois National | 09/01/14 - 08/31/15 | ||||||
| Errors & Omissions | Indian Habor | 09/01/14 - 08/31/15 | ||||||
| Total for Financed thru AFCO | $ | 34,288.35 /mo. | ||||||
| Commercial Package* | Allied | 06/14/14 - 06/13/15 | $ | 1,058.43 /mo. | ||||
| Cyber Liability | Beazley Insurance | 05/12/15 - 06/12/16 | $ | 1,104.82 /mo. | ||||
*includes auto, building, edp, excess liability
| Life Partners Holdings Inc | Exhibit 1 |
| Distributions made by Life Partners, Inc. for LPHI Obligations | |
| Period Ending 5/31/15 |
| Number | Date Paid | Vendor | Paid by | Amount Paid | Purpose | |||||||
| 112049 | 5/5/2015 | The Nitsche Group | LPI Check | $ | 3,237.75 | Down Payment on Insurance | ||||||
| Total Paid | $ | 3,237.75 | ||||||||||
| Date: | |
| Time: User: | |
| Monday, June 15, 2015 | EXHIBIT 2 |
| 05:37PM BSTRIPLING |
DIP – LPHI
Period Sensitive Aged AP - Detail
Period: 03-16 As of: 5/31/2015
Page:
Report:
Company:
1 of 4
03681d.rpt
20
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days
Past Due 31 |
||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | |
| Company: | 20 | (See note at end ofAreport.) | |||||||||||||
| AFCO00 | AFCO | ||||||||||||||
| 234244 | 04-99324733- | VO | A | 6/1/2015 | 5/21/2015 | 34,288.36 | 0.00 | 0.00 | 0.00 | 0.00 | 34,288.36 | ||||
| Vendor Total | 34,288.36 | 0.00 | 0.00 | 0.00 | 0.00 | 34,288.36 | |||||||||
| ALEX00 | Alexander Dubose Jefferson & T | A | |||||||||||||
| 233293 | 6287 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 317.17 | 0.00 | 317.17 | ||||
| 233294 | 6288 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 12,100.00 | 0.00 | 12,100.00 | ||||
| 233295 | 6288 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 7,080.00 | 0.00 | 7,080.00 | ||||
| 234017 | 6291 | VO | A | 4/22/2015 | 4/22/2015 | 0.00 | 0.00 | 13,140.00 | 0.00 | 0.00 | 13,140.00 | ||||
| 234028 | Rev6288 | AD | A | 4/24/2015 | 0.00 | 0.00 | -12,100.00 | 0.00 | 0.00 | -12,100.00 | |||||
| 234029 | Rev6288 | AD | A | 4/24/2015 | 0.00 | 0.00 | -7,080.00 | 0.00 | 0.00 | -7,080.00 | |||||
| 234030 | 6291 | VO | A | 4/24/2015 | 4/24/2015 | 0.00 | 0.00 | 7,080.00 | 0.00 | 0.00 | 7,080.00 | ||||
| 234031 | 6353 | VO | A | 4/24/2015 | 4/24/2015 | 0.00 | 0.00 | 660.00 | 0.00 | 0.00 | 660.00 | ||||
| Vendor Total | 0.00 | 0.00 | 1,700.00 | 19,497.17 | 0.00 | 21,197.17 | |||||||||
| AMER02 | American Stock Transfer & Trus | A | |||||||||||||
| 233512 | DFE 1008901 | VO | A | 3/19/2015 | 3/19/2015 | 3/19/2015 | 0.00 | 0.00 | 0.00 | 1,800.00 | 0.00 | 1,800.00 | |||
| 233937 | DFE10091386 | VO | A | 4/7/2015 | 4/7/2015 | 4/7/2015 | 0.00 | 0.00 | 1,050.00 | 0.00 | 0.00 | 1,050.00 | |||
| 234245 | DFE 1009373 | VO | A | 5/11/2015 | 5/11/2015 | 5/11/2015 | 0.00 | 1,400.00 | 0.00 | 0.00 | 0.00 | 1,400.00 | |||
| Vendor Total | 0.00 | 1,400.00 | 1,050.00 | 1,800.00 | 0.00 | 4,250.00 | |||||||||
| BERM00 | Law Offices of Douglas M. Berm | ||||||||||||||
| 232202 | LP01-21-2015 | VO | A | 3/1/2015 | 3/1/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 4,712.50 | 4,712.50 | ||||
| 233297 | LP-02-2015 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 11,293.75 | 0.00 | 11,293.75 | ||||
| 233552 | LP-03-2015 | VO | A | 4/8/2015 | 4/8/2015 | 0.00 | 0.00 | 6,370.00 | 0.00 | 0.00 | 6,370.00 | ||||
| 233556 | Retnr-LP-01-2 | AD | A | 4/8/2015 | 0.00 | 0.00 | -4,712.50 | 0.00 | 0.00 | -4,712.50 | |||||
| 233558 | RetnrLP-02-20 | AD | A | 4/8/2015 | 0.00 | 0.00 | -656.25 | 0.00 | 0.00 | -656.25 | |||||
| 234079 | RevRetrLP-01 | VO | A | 4/8/2015 | 4/8/2015 | 0.00 | 0.00 | 4,712.50 | 0.00 | 0.00 | 4,712.50 | ||||
| 234080 | RetnrLP-02-20 | VO | A | 4/8/2015 | 4/8/2015 | 0.00 | 0.00 | 656.25 | 0.00 | 0.00 | 656.25 | ||||
| Vendor Total | 0.00 | 0.00 | 6,370.00 | 11,293.75 | 4,712.50 | 22,376.25 | |||||||||
| Date: | |
| Monday, June 15, 2015 | EXHIBIT 2 |
| Page: | |
| Time: 05:37PM | |
| User: BSTRIPLING |
DIP - LPHI
Period Sensitive Aged AP - Detail
Period: 03-16 As of: 5/31/2015
Report:
Company:
2 of 4
03681d.rpt
20
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days
Past Due 31 |
|||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | ||
| BUCH00 | Kevin Buchanan & Associates, P | A | ||||||||||||||
| (See note below) | ||||||||||||||||
| 232832 | 1355 | VO | A | 1/31/2015 | 1/31/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 26,947.75 | 26,947.75 | |||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 26,947.75 | 26,947.75 | ||||||||||
| CARR06 | Carrington, Coleman, Sloman & | A | ||||||||||||||
| 232849 | 317854 | VO | A | 2/13/2015 | 2/13/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 541.00 | 541.00 | |||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 541.00 | 541.00 | ||||||||||
| FIRS08 | First Advantage Litigation Con | |||||||||||||||
| 233304 | 14602 | VO | A | 3/30/2015 | 3/30/2015 | 3/30/2015 | 0.00 | 0.00 | 0.00 | 11,535.00 | 0.00 | 11,535.00 | ||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 11,535.00 | 0.00 | 11,535.00 | ||||||||||
| FORS00 | Forshey & Prostok, LLP - IOLTA | A | ||||||||||||||
| 233290 | 28681-Jan15 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 78,075.53 | 0.00 | 78,075.53 | |||||
| 233291 | 28681-Feb15 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 59,822.90 | 0.00 | 59,822.90 | |||||
| 233292 | 28681-Mar15 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 1,807.50 | 0.00 | 1,807.50 | |||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 139,705.93 | 0.00 | 139,705.93 | ||||||||||
| HORW00 | Horwood, Marcus & Berk | A | ||||||||||||||
| 233305 | 385452 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 105.00 | 0.00 | 105.00 | |||||
| 233935 | 387204 | VO | A | 4/22/2015 | 4/22/2015 | 0.00 | 0.00 | 3,152.50 | 0.00 | 0.00 | 3,152.50 | |||||
| 234276 | 389426 | VO | A | 6/2/2015 | 6/2/2015 | 5,357.50 | 0.00 | 0.00 | 0.00 | 0.00 | 5,357.50 | |||||
| Vendor Total | 5,357.50 | 0.00 | 3,152.50 | 105.00 | 0.00 | 8,615.00 | ||||||||||
| HSPG00 | HSPG & Associates, PC | A | ||||||||||||||
| 232726 | 15-007 | VO | A | 2/7/2015 | 2/7/2015 | 2/7/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 3,786.75 | 3,786.75 | ||||
| 233113 | 15-024 | VO | A | 3/6/2015 | 3/6/2015 | 3/6/2015 | 0.00 | 0.00 | 0.00 | 18,699.57 | 0.00 | 18,699.57 | ||||
| 233114 | 15-007 | AD | A | 2/7/2015 | 2/7/2015 | 0.00 | 0.00 | 0.00 | 0.00 | -3,786.75 | -3,786.75 | |||||
| 233869 | 15-041 | VO | A | 4/3/2015 | 4/3/2015 | 4/3/2015 | 0.00 | 0.00 | 4,587.45 | 0.00 | 0.00 | 4,587.45 | ||||
| Vendor Total | 0.00 | 0.00 | 4,587.45 | 18,699.57 | 0.00 | 23,287.02 | ||||||||||
| HUDS00 | Hudson & Calleja, LLC | |||||||||||||||
| 233306 | 5537 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 1,685.00 | 0.00 | 1,685.00 | |||||
| 233307 | 5537 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 290.00 | 0.00 | 290.00 | |||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 1,975.00 | 0.00 | 1,975.00 | ||||||||||
NOTE: The amount shown for Kevin Buchanan & Associates represents invoices submitted to debtor. The amount shown on Monthly Operating Report, CASH BASIS-4 & 5, reflects additional billings submitted to the court.
| Date: | |
| Time: User: | |
| Monday, June 15, 2015 | EXHIBIT 2 |
| 05:37PM BSTRIPLING |
DIP – LPHI
Period Sensitive Aged AP - Detail
Period: 03-16 As of: 5/31/2015
Page:
Report:
Company:
3 of 4
03681d.rpt
20
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days
Past Due 31 |
||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | |
| JOHN14 | The Johnson Law Firm | A | |||||||||||||
| 233300 | 2 | VO | A | 3/4/2015 | 3/4/2015 | 0.00 | 0.00 | 0.00 | 5,995.00 | 0.00 | 5,995.00 | ||||
| 233303 | 3 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 886.90 | 0.00 | 886.90 | ||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 6,881.90 | 0.00 | 6,881.90 | |||||||||
| KYLE00 | Kyle Mathis & Lucas LLP | A | |||||||||||||
| 233296 | 14104 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 492.66 | 0.00 | 492.66 | ||||
| 233299 | 14084 | VO | A | 3/4/2015 | 3/4/2015 | 0.00 | 0.00 | 0.00 | 875.31 | 0.00 | 875.31 | ||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 1,367.97 | 0.00 | 1,367.97 | |||||||||
| MACK00 | C. Alfred Mackenzie | A | |||||||||||||
| 233115 | LPHI LegalMa | VO | A | 3/9/2015 | 3/9/2015 | 3/9/2015 | 0.00 | 0.00 | 0.00 | 3,802.50 | 0.00 | 3,802.50 | |||
| 233116 | LPHI LegalMa | VO | A | 3/9/2015 | 3/9/2015 | 3/9/2015 | 0.00 | 0.00 | 0.00 | 990.00 | 0.00 | 990.00 | |||
| Vendor Total | 0.00 | 0.00 | 0.00 | 4,792.50 | 0.00 | 4,792.50 | |||||||||
| MEAD01 | Meadows Collier Attorneys at L | A | |||||||||||||
| 233120 | 128856 | VO | A | 3/19/2015 | 3/19/2015 | 0.00 | 0.00 | 0.00 | 10,101.19 | 0.00 | 10,101.19 | ||||
| 233553 | 129135 | VO | A | 4/8/2015 | 4/8/2015 | 0.00 | 0.00 | 3,245.28 | 0.00 | 0.00 | 3,245.28 | ||||
| 234223 | 129492 | VO | A | 5/19/2015 | 5/19/2015 | 0.00 | 1,995.00 | 0.00 | 0.00 | 0.00 | 1,995.00 | ||||
| Vendor Total | 0.00 | 1,995.00 | 3,245.28 | 10,101.19 | 0.00 | 15,341.47 | |||||||||
| MEYE00 | Meyer, Unkovic & Scott LLP | A | |||||||||||||
| 231927 | 1223264 | VO | A | 3/7/2015 | 3/7/2015 | 3/7/2015 | 0.00 | 0.00 | 0.00 | 257.50 | 0.00 | 257.50 | |||
| 233298 | 1224475 | VO | A | 4/16/2015 | 4/16/2015 | 4/16/2015 | 0.00 | 0.00 | 2,433.64 | 0.00 | 0.00 | 2,433.64 | |||
| Vendor Total | 0.00 | 0.00 | 2,433.64 | 257.50 | 0.00 | 2,691.14 | |||||||||
| SHAC00 | Shackelford, Melton & McKinley | A | |||||||||||||
| 233118 | 174733 | VO | A | 4/09/2015 | 4/09/2015 | 4/09/2015 | 0.00 | 0.00 | 60.00 | 0.00 | 0.00 | 60.00 | |||
| Vendor Total | 0.00 | 0.00 | 60.00 | 0.00 | 0.00 | 60.00 | |||||||||
| SHAR03 | Shareholder.com | A | |||||||||||||
| 232029 | 0115SHAR16 | VO | A | 2/27/2015 | 2/27/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 4,388.33 | 4,388.33 | ||||
| 234077 | 0115shar1619 | AD | A | 2/27/2015 | 0.00 | 0.00 | 0.00 | 0.00 | -4,388.33 | -4,388.33 | |||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||
| SQUI01 | Squire Patton Boggs (US) LLP | A | |||||||||||||
| Date: | |
| Time: User: | |
| Monday, June 15, 2015 | EXHIBIT 2 |
| 05:37PM BSTRIPLING |
DIP - LPHI
Period Sensitive Aged AP - Detail
Period: 03-16 As of: 5/31/2015
Page:
Report:
Company:
4 of 4
03681d.rpt
20
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days
Past Due 31 |
||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | |
| 233301 | 10426961 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 2,912.22 | 0.00 | 2,912.22 | ||||
| 233302 | 10426961 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 0.00 | 2,024.00 | 0.00 | 2,024.00 | ||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 4,936.22 | 0.00 | 4,936.22 | |||||||||
| WEST12 | West & Associates, L.L.P | A | |||||||||||||
| 232850 | 15249 | VO | A | 2/17/2015 | 2/17/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 6,927.50 | 6,927.50 | ||||
| 232851 | 15249-ApplyR | AD | A | 2/17/2015 | 0.00 | 0.00 | 0.00 | 0.00 | -4,750.77 | -4,750.77 | |||||
| 233310 | 15301 | VO | A | 3/24/2015 | 3/24/2015 | 0.00 | 0.00 | 0.00 | 3,237.50 | 0.00 | 3,237.50 | ||||
| 234078 | 15249RevRet | VO | A | 2/17/2015 | 2/17/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 4,750.77 | 4,750.77 | ||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 3,237.50 | 6,927.50 | 10,165.00 | |||||||||
| WHIT03 | Whitley Penn | A | |||||||||||||
| 232727 | 226512 | VO | A | 2/9/2015 | 2/9/2015 | 2/9/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 1,007.00 | 1,007.00 | |||
| 232728 | 227700 | VO | A | 2/18/2015 | 2/18/2015 | 2/18/2015 | 0.00 | 0.00 | 0.00 | 0.00 | 2,442.13 | 2,442.13 | |||
| 233119 | 228161 | VO | A | 3/9/2015 | 3/9/2015 | 3/9/2015 | 0.00 | 0.00 | 0.00 | 50,888.00 | 0.00 | 50,888.00 | |||
| 233121 | 228588 | VO | A | 3/16/2015 | 3/16/2015 | 3/16/2015 | 0.00 | 0.00 | 0.00 | 1,900.00 | 0.00 | 1,900.00 | |||
| 234059 | 232198 | VO | A | 4/23/2015 | 4/23/2015 | 4/23/2015 | 0.00 | 0.00 | 5,100.00 | 0.00 | 0.00 | 5,100.00 | |||
| 234115 | Finance Chg | VO | A | 4/23/2015 | 4/23/2015 | 4/23/2015 | 0.00 | 0.00 | 17.50 | 0.00 | 0.00 | 17.50 | |||
| Vendor Total | 0.00 | 0.00 | 5,117.50 | 52,788.00 | 3,449.13 | 61,354.63 | |||||||||
| Company Total | 39,645.86 | 3,395.00 | 27,716.37 | 288,974.20 | 42,577.88 | 402,309.31 | |||||||||
| Less: AFCO | $ | (34,288.36 | ) | |
| Add: Buchanan Additional Billings | $ | 118,007.21 | ||
| Add: Items Footnoted 10 & 11 on CASH BASIS-4 | $ | 3,010,367.68 | ||
| Adjusted Total | $ | 3,496,395.84 | ||
| Note: AFCO is not included in the postpetition aged payables amounts reported on the Monthly Operating | ||||
| Report Cash Basis-4 & 4A. This amount is already included on the Monthly Operating Report under | ||||
| Prepetition Liabilities, Item 1. Secured. |
| Life Partners Holdings, Inc. | Exhibit 3 |
| List of Other Receipts and Disbursements |
| Feb 28,2015 | Mar 31,2015 | Apr 30,2015 | May 31,2015 | |||||||||||||
| Amount | Amount | Amount | Amount | |||||||||||||
| Receipts from: | ||||||||||||||||
| Interest Earned | 12.43 | 0.21 | ||||||||||||||
| Funds transferred from LPI Acct in error | 61,398.28 | ** | ||||||||||||||
| Total Other Receipts | 12.43 | 0.21 | - | 61,398.28 | ||||||||||||
| Disbursements In Payment of: | ||||||||||||||||
| Outside Services | 17,267.05 | |||||||||||||||
| Temporary Security Services | 5,378.67 | |||||||||||||||
| Business Wire Fees | 3,950.00 | |||||||||||||||
| Registrar & Transfer Fees | 1,050.00 | |||||||||||||||
| Filing Fees | 738.00 | 161.00 | ||||||||||||||
| Logo/Trademark Renewal | 400.00 | |||||||||||||||
| Title Letters for buildings | 324.76 | |||||||||||||||
| Domain Renewal | 123.95 | |||||||||||||||
| Bank Acct Analysis Fee | 25.00 | 34.32 | 29.22 | 27.96 | ||||||||||||
| Return Funds to LPI wired in error | 61,398.28 | ** | ||||||||||||||
| Total Other Disbursements | 1,075.00 | 34.32 | 28,211.65 | 61,587.24 | ||||||||||||
** These are related transactions. Funds being transferred from LPI's Bank of America account 0952 to their Bank of Texas account were incorrectly wired to LPHI's account.
Exhibit 99.17
Monthly Operating Report
CASH BASIS
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| JUDGE: | Russell Nelms |
UNITED STATES BANKRUPTCY COURT
NORTHERN & EASTERN DISTRICTS OF TEXAS
REGION 6
MONTHLY OPERATING REPORT
| MONTH ENDING: | April | 2015 | ||
| MONTH | YEAR |
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (CASH BASIS-1 THROUGH CASH BASIS-6) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT, AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
RESPONSIBLE PARTY:
| /s/ H. Thomas Moran II | Trustee | |
| ORIGINAL SIGNATURE OF RESPONSIBLE PARTY | TITLE | |
| H. Thomas Moran II | 5/20/2015 | |
| PRINTED NAME OF RESPONSIBLE PARTY | DATE | |
| PREPARER: | ||
| /s/ Colette Pieper | CEO | |
| ORIGINAL SIGNATURE OF PREPARER | TITLE | |
| Colette Pieper | 5/20/2015 | |
| PRINTED NAME OF PREPARER | DATE |
Monthly Operating Report
CASH BASIS-1
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| CASH RECEIPTS AND | Jan 21, 2015 to | MONTH | MONTH | MONTH | ||||||||||||||
| DISBURSEMENTS | Feb 28, 2015 | Mar 31, 2015 | Apr 30,2015 | |||||||||||||||
| 1. CASH - BEGINNING OF MONTH | $ | 51,248.28 | $ | 59,637.28 | $ | 34,256.39 | ||||||||||||
| RECEIPTS | ||||||||||||||||||
| 2. CASH SALES | ||||||||||||||||||
| 3. ACCOUNTS RECEIVABLE COLLECTIONS | ||||||||||||||||||
| 4. LOANS AND ADVANCES | ||||||||||||||||||
| 5. SALE OF ASSETS | ||||||||||||||||||
| 6. LEASE & RENTAL INCOME | $ | 10,500.00 | $ | 10,000.00 | $ | 10,000.00 | ||||||||||||
| 7. WAGES | ||||||||||||||||||
| 8. OTHER (ATTACH LIST) | $ | 12.43 | $ | 0.21 | ||||||||||||||
| 9. TOTAL RECEIPTS | $ | 10,512.43 | $ | 10,000.21 | $ | 10,000.00 | $ | - | ||||||||||
| DISBURSEMENTS | ||||||||||||||||||
| 10. NET PAYROLL | ||||||||||||||||||
| 11. PAYROLL TAXES PAID | ||||||||||||||||||
| 12. SALES,USE & OTHER TAXES PAID | ||||||||||||||||||
| 13. INVENTORY PURCHASES | ||||||||||||||||||
| 14. MORTAGE PAYMENTS | ||||||||||||||||||
| 15. OTHER SECURED NOTE PAYMENTS | ||||||||||||||||||
| 16. RENTAL & LEASE PAYMENTS | ||||||||||||||||||
| 17. UTILITIES | ||||||||||||||||||
| 18. INSURANCE | $ | 1,048.43 | $ | 35,346.78 | $ | 1,058.43 | ||||||||||||
| 19. VEHICLE EXPENSES | ||||||||||||||||||
| 20. TRAVEL | ||||||||||||||||||
| 21. ENTERTAINMENT | ||||||||||||||||||
| 22. REPAIRS & MAINTENANCE | ||||||||||||||||||
| 23. SUPPLIES | $ | 433.02 | ||||||||||||||||
| 24. ADVERTISING | ||||||||||||||||||
| 25. HOUSEHOLD EXPENSES | ||||||||||||||||||
| 26. CHARITABLE CONTRIBUTIONS | ||||||||||||||||||
| 27. GIFTS | ||||||||||||||||||
| 28. OTHER (ATTACH LIST) | $ | 1,075.00 | $ | 34.32 | $ | 28,211.65 | 2 | |||||||||||
| 29. TOTAL ORDINARY DISBURSEMENTS | $ | 2,123.43 | $ | 35,381.10 | $ | 29,703.10 | $ | - | ||||||||||
| REORGANIZATION EXPENSES | ||||||||||||||||||
| 30. PROFESSIONAL FEES | ||||||||||||||||||
| 31. U.S. TRUSTEE FEES | $ | 1,950.00 | ||||||||||||||||
| 32. OTHER (ATTACH LIST) | ||||||||||||||||||
| 33. TOTAL REORGANIZATION EXPENSES | $ | - | $ | - | $ | 1,950.00 | $ | - | ||||||||||
| 34. TOTAL DISBURSEMENTS | $ | 2,123.43 | $ | 35,381.10 | $ | 31,653.10 | $ | - | 1 | |||||||||
| 35. NET CASH FLOW | $ | 8,389.00 | $ | (25,380.89 | ) | $ | (21,653.10 | ) | $ | - | ||||||||
| 36. CASH - END OF MONTH | $ | 59,637.28 | $ | 34,256.39 | $ | 12,603.29 | $ | - | ||||||||||
| 1 | Attached Exhibit 1 lists all disbursements by LPI, Inc. on behalf of LPHI for the month. |
| 2 | Attached Exhibit 3 list disbursements included in '28. Other' above. |
Monthly Operating Report
CASH BASIS-1A
2015
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| CASH DISBURSEMENTS DETAIL | MONTH: | April |
CASH DISBURSEMENTS
| DATE | PAYEE | PURPOSE | AMOUNT | |||||||
| TOTAL CASH DISBURSEMENTS | $ | - | ||||||||
BANK ACCOUNT DISBURSEMENTS
| CK# | DATE | PAYEE | PURPOSE | AMOUNT | ||||||
| 4/15/2015 | Bank Acct Analysis Fee | $ | 29.22 | |||||||
| 1004 | 4/6/2015 | Sierra Delta, LLC | Security Officers | $ | 5,378.67 | |||||
| 1005 | 4/9/2015 | Allied Insurance | Business Insurance | $ | 1,058.43 | |||||
| 1006 | 4/16/2015 | VOID | $ | - | ||||||
| 1007 | 4/16/2015 | Home Abstract and Title Company | Title Letters for Bldg | $ | 324.76 | |||||
| 1008 | 4/16/2015 | American Express | Credit Card Chgs | $ | 5,644.97 | |||||
| 1009 | 4/23/2015 | Interworks | Outside Service | $ | 16,501.25 | |||||
| 1010 | 4/23/2015 | Pacer Service Center | Outside Service | $ | 765.80 | |||||
| 1011 | 4/23/2015 | U.S. Trustee | Quarterly Fee | $ | 1,950.00 | |||||
| TOTAL BANK ACCOUNT DISBURSEMENTS | $ | 31,653.10 | ||||||||
| TOTAL DISBURSEMENTS FOR THE MONTH | $ | 31,653.10 | 1 | |||||||
| 1 | Attached Exhibit 1 lists all disbursements by LPI, Inc. on behalf of LPHI for the month. |
Monthly Operating Report
CASH BASIS-2
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
BANK RECONCILIATIONS
| Acct #1 | Acct #2 | Acct #3 | ||||||||||||||
| A. BANK: | Bank of America | Alliance | ||||||||||||||
| B. ACCOUNT NUMBER: | 3363 | 0613 | ||||||||||||||
| C. PURPOSE (TYPE): | DIP Acct | MM | TOTAL | |||||||||||||
| 1. BALANCE PER BANK STATEMENT | $ | 12,603.29 | $ | - | $ | 12,603.29 | ||||||||||
| 2. ADD: TOTAL DEPOSITS NOT CREDITED | $ | - | ||||||||||||||
| 3. SUBTRACT: OUTSTANDING CHECKS | $ | - | ||||||||||||||
| 4. OTHER RECONCILING ITEMS | $ | - | ||||||||||||||
| 5. MONTH END BALANCE PER BOOKS | $ | 12,603.29 | $ | - | $ | - | $ | 12,603.29 | ||||||||
| 6. NUMBER OF LAST CHECK WRITTEN | 1011 | |||||||||||||||
| INVESTMENT ACCOUNTS | ||||||||||||||||
| DATE OF | TYPE OF | PURCHASE | CURRENT | |||||||||||||
| BANK, ACCOUNT NAME & NUMBER | PURCHASE | INSTRUMENT | PRICE | VALUE | ||||||||||||
| 7. | ||||||||||||||||
| 8. | ||||||||||||||||
| 9. | ||||||||||||||||
| 10. | ||||||||||||||||
| 11. TOTAL INVESTMENTS | $ | - | $ | - | ||||||||||||
| CASH | ||||||||||||||||
| 12. CURRENCY ON HAND | $ | - | ||||||||||||||
| 13. TOTAL CASH - END OF MONTH | $ | 12,603.29 | ||||||||||||||
Monthly Operating Report
CASH BASIS-3
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
ASSETS OF THE ESTATE
| SCHEDULE "A" | SCHEDULE | MONTH | MONTH | MONTH | ||||||||||||
| REAL PROPERTY | AMOUNT | Feb 28, 2015 | Mar 31, 2015 | Apr 30,2015 | ||||||||||||
| 1. 204 Woodhew Dr. Waco, TX 76712 | $ | 1,079,495.09 | $ | 1,079,495.09 | $ | 1,079,495.09 | $ | 1,079,495.09 | ||||||||
| 2. 8225 Central Park Dr. Waco, TX 76712 | $ | 1,109,143.75 | $ | 1,109,143.75 | $ | 1,109,143.75 | $ | 1,109,143.75 | ||||||||
| 3. | ||||||||||||||||
| 4. OTHER (ATTACH LIST) | ||||||||||||||||
| 5. TOTAL REAL PROPERTY ASSETS | $ | 2,188,638.84 | $ | 2,188,638.84 | $ | 2,188,638.84 | $ | 2,188,638.84 | ||||||||
| SCHEDULE "B" | ||||||||||||||||
| PERSONAL PROPERTY | ||||||||||||||||
| 1. CASH ON HAND | ||||||||||||||||
| 2. CHECKING, SAVINGS, ETC. | $ | 51,248.28 | $ | 59,637.28 | $ | 34,256.39 | $ | 12,603.29 | ||||||||
| 3. SECURITY DEPOSITS | ||||||||||||||||
| 4. HOUSEHOLD GOODS | ||||||||||||||||
| 5. BOOKS, PICTURES, ART | $ | 166,250.00 | $ | 166,250.00 | $ | 166,250.00 | $ | 166,250.00 | ||||||||
| 6. WEARING APPAREL | ||||||||||||||||
| 7. FURS AND JEWELRY | ||||||||||||||||
| 8. FIREARMS & SPORTS EQUIPMENT | ||||||||||||||||
| 9. INSURANCE POLICIES | ||||||||||||||||
| 10. ANNUITIES | ||||||||||||||||
| 11. EDUCATION | ||||||||||||||||
| 12. RETIREMENT & PROFIT SHARING | ||||||||||||||||
| 13. STOCKS | unknown | unknown | unknown | unknown | ||||||||||||
| 14. PARTNERSHIPS & JOINT VENTURES | ||||||||||||||||
| 15. GOVERNMENT & CORPORATE BONDS | ||||||||||||||||
| 16. ACCOUNTS RECEIVABLE | ||||||||||||||||
| 17. ALIMONY | ||||||||||||||||
| 18. OTHER LIQUIDATED DEBTS | ||||||||||||||||
| 19. EQUITABLE INTERESTS | ||||||||||||||||
| 20. CONTINGENT INTERESTS | ||||||||||||||||
| 21. OTHER CLAIMS | ||||||||||||||||
| 22. PATENTS & COPYRIGHTS | ||||||||||||||||
| 23. LICENSES & FRANCHISES | ||||||||||||||||
| 24. CUSTOMER LISTS | ||||||||||||||||
| 25. AUTOS, TRUCKS & OTHER VEHICLES | ||||||||||||||||
| 26. BOATS & MOTORS | ||||||||||||||||
| 27. AIRCRAFT | ||||||||||||||||
| 28. OFFICE EQUIPMENT | ||||||||||||||||
| 29. MACHINERY, FIXTURES & EQUIPMENT | ||||||||||||||||
| 30. INVENTORY | ||||||||||||||||
| 31. ANIMALS | ||||||||||||||||
| 32. CROPS | ||||||||||||||||
| 33. FARMING EQUIPMENT | ||||||||||||||||
| 34. FARM SUPPLIES | ||||||||||||||||
| 35. OTHER (ATTACH LIST) | ||||||||||||||||
| 36. TOTAL PERSONAL PROPERTY ASSETS | $ | 217,498.28 | $ | 225,887.28 | $ | 200,506.39 | $ | 178,853.29 | ||||||||
| 37. TOTAL ASSETS | $ | 2,406,137.12 | $ | 2,414,526.12 | $ | 2,389,145.23 | $ | 2,367,492.13 | ||||||||
| 3 | Item 13. Stocks: Value of LPI not included since financials were historically consolidated for reporting. |
Monthly Operating Report
CASH BASIS-4
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | April | ||
| LIABILITIES OF THE ESTATE |
| PREPETITION | SCHEDULE | |||||||
| LIABILITIES | AMOUNT | PAYMENTS | ||||||
| 1. SECURED | $ | 267,504.86 | $ | 137,153.41 | 4 | |||
| 2. PRIORITY | $ | 3,991,351.00 | ||||||
| 3. UNSECURED | $ | 48,518,137.38 | ||||||
| 4. OTHER (ATTACH LIST) | ||||||||
| 5. TOTAL PREPETITION LIABILITIES | $ | 52,776,993.24 | $ | 137,153.41 | ||||
| POSTPETITION | DATE | AMOUNT | DUE | AMOUNT | ||||||||||||
| LIABILITIES | INCURRED | OWED | DATE | PAST DUE | ||||||||||||
| 1. FEDERAL INCOME TAXES | ||||||||||||||||
| 2. FICA/MEDICARE | ||||||||||||||||
| 3. STATE TAXES | ||||||||||||||||
| 4. REAL ESTATE TAXES | ||||||||||||||||
| 5. OTHER TAXES (ATTACH LIST) | ||||||||||||||||
| 6. TOTAL TAXES | $ | - | $ | - | ||||||||||||
| OTHER POSTPETITION LIABILITIES INCLUDING TRADE CREDITORS (LIST NAMES OF CREDITORS) | 5 | |||||||||||||||
| 7. Alexander Dubose Jefferson & Townsend LLP | $ | 21,197.17 | ||||||||||||||
| 8. American Express | $ | 161.00 | ||||||||||||||
| 9. American Stock Transfer | $ | 2,850.00 | ||||||||||||||
| 10. Law Offices of Douglas M. Berman, PLLC | $ | 22,376.25 | ||||||||||||||
| 11. Kevin Buchanan & Associates, P.L.L.C. | $ | 26,947.75 | ||||||||||||||
| 12. Carrington, Coleman, Sloman & Blumenthal, L.L.P. | $ | 541.00 | ||||||||||||||
| 13. First Advantage Litigation Consulting | $ | 11,535.00 | ||||||||||||||
| 14. Forshey & Prostok, LLP - IOLTA | $ | 139,705.93 | ||||||||||||||
| 15. Horwood, Marcus & Berk | $ | 3,257.50 | ||||||||||||||
| 16. HSPG & Associates, PC | $ | 23,287.02 | ||||||||||||||
| 17. Hudson & Calleja, LLC | $ | 1,975.00 | ||||||||||||||
| 18. The Johnson Law Firm | $ | 6,881.90 | ||||||||||||||
| 19. Kyle Mathis & Lucas LLP | $ | 1,367.97 | ||||||||||||||
| 20. C. Alfred Mackenzie | $ | 4,792.50 | ||||||||||||||
| 21. Meadows Collier Attorneys at Law | $ | 15,341.47 | ||||||||||||||
| 22. Meyer, Unkovic & Scott LLP | $ | 2,691.14 | ||||||||||||||
| 23. Shackelford, Melton & McKinley | $ | 60.00 | ||||||||||||||
| 24. Squire Patton Boggs (US) LLP | $ | 4,936.22 | ||||||||||||||
| 25. West & Associates, L.L.P | $ | 10,165.00 | ||||||||||||||
| 26. Whitley Penn | $ | 61,354.63 | ||||||||||||||
| 27. | ||||||||||||||||
| 28. | ||||||||||||||||
| 29. (IF ADDITIONAL ATTACH LIST) | ||||||||||||||||
| 30. TOTAL OF LINES 7 - 29 | $ | 361,424.45 | $ | - | ||||||||||||
| 31. TOTAL POSTPETITION LIABILITIES | $ | 361,424.45 | $ | - | ||||||||||||
| 4 | Secured Prepetition Liability Payments were paid to AFCO on promissory note for D&O and E&O insurance as follows: |
| $ | 34,288.35 | Payments by Life Partners Holdings, Inc. | ||
| $ | 102,865.06 | Payments by Life Partners, Inc. on behalf of LPHI. |
| 5 | See Exhibit 2 for detail of Postpetition Liabilities |
Monthly Operating Report
CASH BASIS-4A
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | April |
| ACCOUNTS RECEIVABLE AGING | ||||||||||||||||
| SCHEDULE AMOUNT | MONTH | MONTH | MONTH | |||||||||||||
| 1. 0 - 30 | ||||||||||||||||
| 2. 31 - 60 | ||||||||||||||||
| 3. 61 - 90 | ||||||||||||||||
| 4. 91 + | ||||||||||||||||
| 5. TOTAL ACCOUNTS RECEIVABLE | $ | - | $ | - | $ | - | $ | - | ||||||||
| 6. AMOUNT CONSIDERED UNCOLLECTIBLE | ||||||||||||||||
| 7. ACCOUNTS RECEIVABLE (NET) | $ | - | $ | - | $ | - | $ | - |
| AGING OF POSTPETITION TAXES AND PAYABLES | 0 - 30 | 31-60 | 90+ | Total | ||||||||||||
| TAXES PAYABLE | DAYS | DAYS | DAYS | |||||||||||||
| 1. FEDERAL | $ | - | ||||||||||||||
| 2. STATE | $ | - | ||||||||||||||
| 3. LOCAL | $ | - | ||||||||||||||
| 4. OTHER (ATTACH LIST) | $ | - | ||||||||||||||
| 5. TOTAL TAXES PAYABLE | $ | - | $ | - | $ | - | $ | - | ||||||||
| 6. ACCOUNTS PAYABLE | $ | 29,872.37 | $ | 293,686.70 | $ | 37,865.38 | $ | 361,424.45 | ||||||||
| STATUS OF POSTPETITION TAXES | ||||||||||||||||
| BEGINNING | AMOUNT | ENDING | ||||||||||||||
| TAX | WITHHELD | AMOUNT | TAX | |||||||||||||
| FEDERAL | LIABILITY | OR ACCRUED | PAID | LIABILITY | ||||||||||||
| 1. WITHHOLDING | $ | - | ||||||||||||||
| 2. FICA-EMPLOYEE | $ | - | ||||||||||||||
| 3. FICA-EMPLOYER | $ | - | ||||||||||||||
| 4. UNEMPLOYMENT | $ | - | ||||||||||||||
| 5. INCOME | $ | - | ||||||||||||||
| 6. OTHER (ATTACH LIST) | $ | - | ||||||||||||||
| 7. TOTAL FEDERAL TAXES | $ | - | $ | - | $ | - | $ | - | ||||||||
| STATE AND LOCAL | $ | - | ||||||||||||||
| 8. WITHHOLDING | $ | - | ||||||||||||||
| 9. SALES | $ | - | ||||||||||||||
| 10. EXCISE | $ | - | ||||||||||||||
| 11. UNEMPLOYMENT | $ | - | ||||||||||||||
| 12. REAL PROPERTY | $ | - | ||||||||||||||
| 13. PERSONAL PROPERTY | $ | - | ||||||||||||||
| 14. OTHER (ATTACH LIST) | $ | - | ||||||||||||||
| 15. TOTAL STATE & LOCAL | $ | - | $ | - | $ | - | $ | - | ||||||||
| 16. TOTAL TAXES | $ | - | $ | - | $ | - | $ | - |
Monthly Operating Report
CASH BASIS-5
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | April |
| PAYMENTS TO INSIDERS AND PROFESSIONALS |
| INSIDERS | ||||||||||||
| NAME | TYPE OF PAYMENT | AMOUNT PAID | TTL PD TO DATE | |||||||||
| 1. | ||||||||||||
| 2. | ||||||||||||
| 3. | ||||||||||||
| 4. | ||||||||||||
| 5. | ||||||||||||
| TOTAL PAYMENTS TO INSIDERS | $ | - | $ | - | ||||||||
| PROFESSIONALS | ||||||||||||||||||||
| DATE OF COURT ORDER | AMOUNT | AMOUNT | TTL PAID | TOTAL INCURRED | ||||||||||||||||
| NAME | AUTHORIZING PAYMENT | APPROVED | PAID | TO DATE | & UNPAID | |||||||||||||||
| 1. | ||||||||||||||||||||
| 2. | ||||||||||||||||||||
| 3. | ||||||||||||||||||||
| 4. | ||||||||||||||||||||
| 5. | ||||||||||||||||||||
| TOTAL PAYMENTS TO PROFESSIONALS | $ | - | $ | - | $ | - | $ | - | ||||||||||||
| POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS | ||||
| SCHEDULED | AMOUNTS | TOTAL | ||||||||||
| MONTHLY | PAID | UNPAID | ||||||||||
| PAYMENTS | DURING | POST- | ||||||||||
| NAME OF CREDITOR | DUE | MONTH | PETITION | |||||||||
| 1. | ||||||||||||
| 2. | ||||||||||||
| 3. | ||||||||||||
| 4. | ||||||||||||
| 5. | ||||||||||||
| 6. TOTAL | $ | - | $ | - | $ | - |
Monthly Operating Report
CASH BASIS-6
| 2015 | ||
| CASE NAME: | Life Partners Holdings, Inc. | |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | April |
QUESTIONNAIRE
| YES | NO | |||||
| 1. | HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? | X | ||||
| 2. | HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? | X | ||||
| 3. | ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES OR LOANS) DUE FROM RELATED PARTIES? | X | ||||
| 4. | HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? | X | ||||
| 5. | HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? | X | ||||
| 6. | ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? | X | ||||
| 7. | ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? | X | ||||
| 8. | ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? | X | ||||
| 9. | ARE ANY OTHER POSTPETITION TAXES PAST DUE? | X | ||||
| 10. | ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? | X | ||||
| 11. | HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? | X | ||||
| 12. | ARE ANY WAGE PAYMENTS PAST DUE? | X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES"; PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
Questionnaire Item 2. See Exhibit 1.
Questionnaire Item 4. Approval of Motion for relief from automatic stay to pay AFCO for D&O insurance at 2/9/15 Hearing
INSURANCE
| YES | NO | |||||
| 1. | ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? | X | ||||
| 2. | ARE ALL PREMIUM PAYMENTS PAID CURRENT? | X | ||||
| 3. | PLEASE ITEMIZE POLICIES BELOW | X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO" OR IF ANY POLICIES HAVE BEEN CANCELED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSTALLMENT PAYMENTS
| TYPE OF | PERIOD | PAYMENT AMOUNT | ||||||
| POLICY | CARRIER | COVERED | &FREQUENCY | |||||
| Directors & Officers | Illinois National | 09/01/14 - 08/31/15 | ||||||
| Errors & Omissions | Indian Habor | 09/01/14 - 08/31/15 | ||||||
| Total for Financed thru AFCO | $ | 34,288.35 /mo. | ||||||
| Commercial Package | Allied | 06/14/14 - 06/13/15 | $ | $ 1,058.43 /mo. |
* includes auto, building, edp, excess liability
| Life Partners Holdings Inc | Exhibit 1 |
| Distributions made by Life Partners, Inc. for LPHI Obligations | |
| Period Ending 4/30/15 |
| Number | Date Paid | Vendor | Paid by | Amount Paid | ||||||
| 111975 | 4/16/2015 | AFCO | LPI Check | $ | 34,288.36 | |||||
| 112025 | 4/28/2015 | Wells Fargo-Vintage Filings | LPI Check | $ | 932.00 | |||||
| Total Paid | $ | 35,220.36 | ||||||||
| Date: | |
| Time: User: | |
| Tuesday, May 19, 2015 | EXHIBIT 2 |
03:18PM BSTRIPLING
DIP - LPHI
Period Sensitive Aged AP - Detail
Period: 02-16 As of: 4/30/2015
Page:
Report:
Company:
1 of 4
03681d.rpt
01
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days Past Due 31 |
||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | |
| Company: | 20 | ||||||||||||||
| AFCO00 | AFCO | A | |||||||||||||
| 233873 | 04-99324733- | VO | A | 5/1/2015 | 4/22/2015 | 34,288.36 | 0.00 | 0.00 | 0.00 | 0.00 | 34,288.36 | ||||
| 234092 | 04-99324733- | AD | A | 4/30/2015 | -34,288.36 | 0.00 | 0.00 | 0.00 | 0.00 | -34,288.36 | |||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||
| ALEX00 | Alexander Dubose Jefferson & T | A | |||||||||||||
| 233293 | 6287 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 317.17 | 0.00 | 0.00 | 317.17 | ||||
| 233294 | 6288 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 12,100.00 | 0.00 | 0.00 | 12,100.00 | ||||
| 233295 | 6288 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 7,080.00 | 0.00 | 0.00 | 7,080.00 | ||||
| 234017 | 6291 | VO | A | 4/22/2015 | 4/22/2015 | 0.00 | 13,140.00 | 0.00 | 0.00 | 0.00 | 13,140.00 | ||||
| 234028 | Rev6288 | AD | A | 4/24/2015 | 0.00 | -12,100.00 | 0.00 | 0.00 | 0.00 | -12,100.00 | |||||
| 234029 | Rev6288 | AD | A | 4/24/2015 | 0.00 | -7,080.00 | 0.00 | 0.00 | 0.00 | -7,080.00 | |||||
| 234030 | 6291 | VO | A | 4/24/2015 | 4/24/2015 | 0.00 | 7,080.00 | 0.00 | 0.00 | 0.00 | 7,080.00 | ||||
| 234031 | 6353 | VO | A | 4/24/2015 | 4/24/2015 | 0.00 | 660.00 | 0.00 | 0.00 | 0.00 | 660.00 | ||||
| Vendor Total | 0.00 | 1,700.00 | 19,497.17 | 0.00 | 0.00 | 21,197.17 | |||||||||
| AMER01 | American Express | A | |||||||||||||
| 234106 | 9-93009xApr1 | VO | A | 4/29/2015 | 5/14/2015 | 5/06/2015 | 161.00 | 0.00 | 0.00 | 0.00 | 0.00 | 161.00 | |||
| Vendor Total | 161.00 | 0.00 | 0.00 | 0.00 | 0.00 | 161.00 | |||||||||
| AMER02 | American Stock Transfer & Trus | A | |||||||||||||
| 233512 | DFE 1008901 | VO | A | 3/19/2015 | 3/19/2015 | 3/19/2015 | 0.00 | 0.00 | 1,800.00 | 0.00 | 0.00 | 1,800.00 | |||
| 233937 | DFE10091386 | VO | A | 4/7/2015 | 4/7/2015 | 4/7/2015 | 0.00 | 1,050.00 | 0.00 | 0.00 | 0.00 | 1,050.00 | |||
| Vendor Total | 0.00 | 1050.00 | 1800.00 | 0.00 | 0.00 | 2850.00 | |||||||||
| BERM00 | Law Offices of Douglas M. Berm | A | |||||||||||||
| 232202 | LP01-21-2015 | VO | A | 3/1/2015 | 3/1/2015 | 0.00 | 0.00 | 4,712.50 | 0.00 | 0.00 | 4,712.50 | ||||
| 233297 | LP-02-2015 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 11,293.75 | 0.00 | 0.00 | 11,293.75 | ||||
| 233552 | LP-03-2015 | VO | A | 4/8/2015 | 4/8/2015 | 0.00 | 6,370.00 | 0.00 | 0.00 | 0.00 | 6,370.00 | ||||
| 233556 | Retnr-LP-01-2 | AD | A | 4/8/2015 | 0.00 | -4,712.50 | 0.00 | 0.00 | 0.00 | -4,712.50 | |||||
| 233558 | RetnrLP-02-20 | AD | A | 4/8/2015 | 0.00 | -656.25 | 0.00 | 0.00 | 0.00 | -656.25 | |||||
Date:
Time: User:
Tuesday, May 19, 2015
03:18PM BSTRIPLING
DIP - LPHI
Period Sensitive Aged AP - Detail
Period: 02-16 As of: 4/30/2015
Page:
Report:
Company:
2 of 4
03681d.rpt
01
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days
Past Due 31 |
||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | |
| 234079 | RevRetrLP-01 | VO | A | 4/8/2015 | 4/8/2015 | 0.00 | 4,712.50 | 0.00 | 0.00 | 0.00 | 4,712.50 | ||||
| 234080 | RetnrLP-02-20 | VO | A | 4/8/2015 | 4/8/2015 | 0.00 | 656.25 | 0.00 | 0.00 | 0.00 | 656.25 | ||||
| Vendor Total | 0.00 | 6,370.00 | 16,006.25 | 0.00 | 0.00 | 22,376.25 | |||||||||
| BUCH00 | Kevin Buchanan & Associates, | P | A | ||||||||||||
| 232832 | 1355 | VO | A | 1/31/2015 | 1/31/2015 | 0.00 | 0.00 | 0.00 | 26,947.75 | 0.00 | 26,947.75 | ||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 26947.75 | 0.00 | 26,947.75 | |||||||||
| CARR06 | Carrington, Coleman, Sloman & | A | |||||||||||||
| 232849 | 317854 | VO | A | 2/13/2015 | 2/13/2015 | 0.00 | 0.00 | 0.00 | 541.00 | 0.00 | 541.00 | ||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 541.00 | 0.00 | 541.00 | |||||||||
| FIRS08 | First Advantage Litigation Con | ||||||||||||||
| 233304 | 14602 | VO | A | 3/30/2015 | 3/30/2015 | 3/30/2015 | 0.00 | 0.00 | 11,535.00 | 0.00 | 0.00 | 11,535.00 | |||
| Vendor Total | 0.00 | 0.00 | 11,535.00 | 0.00 | 0.00 | 11,535.00 | |||||||||
| FORS00 | Forshey & Prostok, LLP – IOLTA | A | |||||||||||||
| 233290 | 28681-Jan15 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 78,075.53 | 0.00 | 0.00 | 78,075.53 | ||||
| 233291 | 28681-Feb15 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 59,822.90 | 0.00 | 0.00 | 59,822.90 | ||||
| 233292 | 28681-Mar15 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 1,807.50 | 0.00 | 0.00 | 1,807.50 | ||||
| Vendor Total | 0.00 | 0.00 | 139,705.93 | 0.00 | 0.00 | 139,705.93 | |||||||||
| HORW00 | Horwood, Marcus & Berk | ||||||||||||||
| 233305 | 385452 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 105.00 | 0.00 | 0.00 | 105.00 | ||||
| 233935 | 387204 | VO | A | 4/22/2015 | 4/22/2015 | 0.00 | 3,152.50 | 0.00 | 0.00 | 0.00 | 3,152.50 | ||||
| Vendor Total | 0.00 | 3,152.50 | 105.00 | 0.00 | 0.00 | 3,257.50 | |||||||||
| HSPG00 | HSPG & Associates, PC | ||||||||||||||
| 232726 | 15-007 | VO | A | 2/7/2015 | 2/7/2015 | 2/7/2015 | 0.00 | 0.00 | 0.00 | 3,786.75 | 0.00 | 3,786.75 | |||
| 233113 | 15-024 | VO | A | 3/6/2015 | 3/6/2015 | 3/6/2015 | 0.00 | 0.00 | 18,699.57 | 0.00 | 0.00 | 18,699.57 | |||
| 233114 | 15-007 | AD | A | 2/7/2015 | 2/7/2015 | 0.00 | 0.00 | 0.00 | -3,786.75 | 0.00 | -3,786.75 | ||||
| 233869 | 15-041 | VO | A | 4/3/2015 | 4/3/2015 | 4/3/2015 | 0.00 | 4,587.45 | 0.00 | 0.00 | 0.00 | 4,587.45 | |||
| Vendor Total | 0.00 | 4,587.45 | 18,699.57 | 0.00 | 0.00 | 23,287.02 | |||||||||
| HUDS00 | Hudson & Calleja, LLC | ||||||||||||||
| 233306 | 5537 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 1,685.00 | 0.00 | 0.00 | 1,685.00 | ||||
Date:
Time: User:
Tuesday, May 19, 2015
03:18PM BSTRIPLING
DIP - LPHI
Period Sensitive Aged AP - Detail
Period: 02-16 As of: 4/30/2015
Page:
Report:
Company:
3 of 4
03681d.rpt
01
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days
Past Due 31 |
||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | |
| 233307 | 5537 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 290.00 | 0.00 | 0.00 | 290.00 | ||||
| Vendor Total | 0.00 | 0.00 | 1,975.00 | 0.00 | 0.00 | 1,975.00 | |||||||||
| JOHN14 | The Johnson Law Firm | A | |||||||||||||
| 233300 | 2 | VO | A | 3/4/2015 | 3/4/2015 | 0.00 | 0.00 | 5,995.00 | 0.00 | 0.00 | 5,995.00 | ||||
| 233303 | 3 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 886.90 | 0.00 | 0.00 | 886.90 | ||||
| Vendor Total | 0.00 | 0.00 | 6,881.90 | 0.00 | 0.00 | 6,881.90 | |||||||||
| KYLE00 | Kyle Mathis & Lucas LLP | A | |||||||||||||
| 233296 | 14104 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 492.66 | 0.00 | 0.00 | 492.66 | ||||
| 233299 | 14084 | VO | A | 3/4/2015 | 3/4/2015 | 0.00 | 0.00 | 875.31 | 0.00 | 0.00 | 875.31 | ||||
| Vendor Total | 0.00 | 0.00 | 1,367.97 | 0.00 | 0.00 | 1,367.97 | |||||||||
| MACK00 | C. Alfred Mackenzie | A | |||||||||||||
| 233115 | LPHI LegalMa | VO | A | 3/9/2015 | 3/9/2015 | 3/9/2015 | 0.00 | 0.00 | 3,802.50 | 0.00 | 0.00 | 3,802.50 | |||
| 233116 | LPHI LegalMa | VO | A | 3/9/2015 | 3/9/2015 | 3/9/2015 | 0.00 | 0.00 | 990.00 | 0.00 | 0.00 | 990.00 | |||
| Vendor Total | 0.00 | 0.00 | 4,792.50 | 0.00 | 0.00 | 4,792.50 | |||||||||
| MEAD01 | Meadows Collier Attorneys at L | A | |||||||||||||
| 233120 | 128856 | VO | A | 3/19/2015 | 3/19/2015 | 0.00 | 0.00 | 10,101.19 | 0.00 | 0.00 | 10,101.19 | ||||
| 233553 | 129135 | VO | A | 4/8/2015 | 4/8/2015 | 0.00 | 3,245.28 | 0.00 | 0.00 | 0.00 | 3,245.28 | ||||
| 234223 | 129492 | VO | A | 5/19/2015 | 5/19/2015 | 1,995.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,995.00 | ||||
| Vendor Total | 1,995.00 | 3,245.28 | 10,101.19 | 0.00 | 0.00 | 15,341.47 | |||||||||
| MEYE00 | Meyer, Unkovic & Scott LLP | A | |||||||||||||
| 231927 | 1223264 | VO | A | 3/7/2015 | 3/7/2015 | 3/7/2015 | 0.00 | 0.00 | 257.50 | 0.00 | 0.00 | 257.50 | |||
| 233298 | 1224475 | VO | A | 4/16/2015 | 4/16/2015 | 4/16/2015 | 0.00 | 2,433.64 | 0.00 | 0.00 | 0.00 | 2,433.64 | |||
| Vendor Total | 0.00 | 2,433.64 | 257.50 | 0.00 | 0.00 | 2,691.14 | |||||||||
| SHAC00 | Shackelford, Melton & McKinley | A | |||||||||||||
| 233118 | 174733 | VO | A | 4/09/2015 | 4/09/2015 | 4/09/2015 | 0.00 | 60.00 | 0.00 | 0.00 | 0.00 | 60.00 | |||
| Vendor Total | 0.00 | 60.00 | 0.00 | 0.00 | 0.00 | 60.00 | |||||||||
| SHAR03 | Shareholder.com | ||||||||||||||
| 232029 | 0115SHAR16 | VO | A | 2/27/2015 | 2/27/2015 | 0.00 | 0.00 | 0.00 | 4,388.33 | 0.00 | 4388.33 | ||||
| 234077 | 0115shar1619 | VO | A | 2/27/2015 | 0.00 | 0.00 | 0.00 | -4,388.33 | 0.00 | -4,388.33 | |||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||
Date:
Time: User:
Tuesday, May 19, 2015
03:18PM BSTRIPLING
DIP - LPHI
Period Sensitive Aged AP - Detail
Period: 02-16 As of: 4/30/2015
Page:
Report:
Company:
4 of 4
03681d.rpt
01
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days
Past Due 31 |
||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | |
| SQUI01 | Squire Patton Boggs (US) LLP | A | |||||||||||||
| 233301 | 10426961 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 2,912.22 | 0.00 | 0.00 | 2,912.22 | ||||
| 233302 | 10426961 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 2,024.00 | 0.00 | 0.00 | 2,024.00 | ||||
| Vendor Total | 0.00 | 0.00 | 4,936.22 | 0.00 | 0.00 | 4,936.22 | |||||||||
| WEST12 | West & Associates, | L.L.P | A | ||||||||||||
| 232850 | 15249 | VO | A | 2/17/2015 | 2/17/2015 | 0.00 | 0.00 | 0.00 | 6,927.50 | 0.00 | 6,927.50 | ||||
| 232851 | 15249-ApplyR | AD | A | 2/17/2015 | 0.00 | 0.00 | 0.00 | -4,750.77 | 0.00 | -4,750.77 | |||||
| 233310 | 15301 | VO | A | 3/24/2015 | 3/24/2015 | 0.00 | 0.00 | 3,237.50 | 0.00 | 0.00 | 3,237.50 | ||||
| 234078 | 15249RevRet | VO | A | 2/17/2015 | 2/17/2015 | 0.00 | 0.00 | 0.00 | 4,750.77 | 0.00 | 4,750.77 | ||||
| Vendor Total | 0.00 | 0.00 | 3,237.50 | 6,927.50 | 0.00 | 10,165.00 | |||||||||
| WHIT03 | Whitley Penn | A | |||||||||||||
| 232727 | 226512 | VO | A | 2/9/2015 | 2/9/2015 | 2/9/2015 | 0.00 | 0.00 | 0.00 | 1,007.00 | 0.00 | 1,007.00 | |||
| 232728 | 227700 | VO | A | 2/18/2015 | 2/18/2015 | 2/18/2015 | 0.00 | 0.00 | 0.00 | 2,442.13 | 0.00 | 2,442.13 | |||
| 233119 | 228161 | VO | A | 3/9/2015 | 3/9/2015 | 3/9/2015 | 0.00 | 0.00 | 50,888.00 | 0.00 | 0.00 | 50,888.00 | |||
| 233121 | 228588 | VO | A | 3/16/2015 | 3/16/2015 | 3/16/2015 | 0.00 | 0.00 | 1,900.00 | 0.00 | 0.00 | 1,900.00 | |||
| 234059 | 232198 | VO | A | 4/23/2015 | 4/23/2015 | 4/23/2015 | 0.00 | 5,100.00 | 0.00 | 0.00 | 0.00 | 5,100.00 | |||
| 234115 | Finance Chg | VO | A | 4/23/2015 | 4/23/2015 | 4/23/2015 | 0.00 | 17.50 | 0.00 | 0.00 | 0.00 | 17.50 | |||
| Vendor Total | 0.00 | 5,117.50 | 52,788.00 | 3,449.13 | 0.00 | 61,354.63 | |||||||||
| Company Total | 2,156.00 | 27,716.37 | 293,686.70 | 37,865.38 | 0.00 | 361,424.45 | |||||||||
| Life Partners Holdings, Inc. | Exhibit 3 | ||
| List of Other Disbursements |
| Feb 28,2015 | Mar 31,2015 | Apr 30,2015 | ||||||||||
| Disbursements In Payment of: | Amount | Amount | Amount | |||||||||
| Outside Services | 17,267.05 | |||||||||||
| Temporary Security Services | 5,378.67 | |||||||||||
| Business Wire Fees | 3,950.00 | |||||||||||
| Registrar & Transfer Fees | 1,050.00 | |||||||||||
| Filing Fees | 738.00 | |||||||||||
| Logo/Trademark Renewal | 400.00 | |||||||||||
| Title Letters for buildings | 324.76 | |||||||||||
| Domain Renewal | 123.95 | |||||||||||
| Bank Acct Analysis Fee | 25.00 | 34.32 | 29.22 | |||||||||
| Total Other Disbursements | 1,075.00 | 34.32 | 28,211.65 | |||||||||
Exhibit 99.18
Monthly Operating Report
CASH BASIS
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| JUDGE: | Russell Nelms |
UNITED STATES BANKRUPTCY COURT
NORTHERN & EASTERN DISTRICTS OF TEXAS
REGION 6
MONTHLY OPERATING REPORT
| MONTH ENDING: | March | 2015 | ||
| MONTH | YEAR |
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (CASH BASIS-1 THROUGH CASH BASIS-6) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT, AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
RESPONSIBLE PARTY:
| /s/ H. Thomas Moran | Trustee | |
| ORIGINAL SIGNATURE OF RESPONSIBLE PARTY | TITLE | |
| H. Thomas Moran | 5/5/2015 | |
| PRINTED NAME OF RESPONSIBLE PARTY | DATE | |
| PREPARER: | ||
| /s/ Colette Pieper | CEO | |
| ORIGINAL SIGNATURE OF PREPARER | TITLE | |
| Colette Pieper | 5/1/2015 | |
| PRINTED NAME OF PREPARER | DATE |
Monthly Operating Report
CASH BASIS-1
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| CASH RECEIPTS AND | Jan 21, 2015 to | MONTH | MONTH | MONTH | ||||||||||||
| DISBURSEMENTS | Feb 28, 2015 | Mar 31, 2015 | ||||||||||||||
| 1. CASH - BEGINNING OF MONTH | $ | 51,248.28 | $ | 59,637.28 | $ | - | ||||||||||
| RECEIPTS | ||||||||||||||||
| 2. CASH SALES | ||||||||||||||||
| 3. ACCOUNTS RECEIVABLE COLLECTIONS | ||||||||||||||||
| 4. LOANS AND ADVANCES | ||||||||||||||||
| 5. SALE OF ASSETS | ||||||||||||||||
| 6. LEASE & RENTAL INCOME | $ | 10,500.00 | $ | 10,000.00 | ||||||||||||
| 7. WAGES | ||||||||||||||||
| 8. OTHER (ATTACH LIST) | $ | 12.43 | $ | 0.21 | ||||||||||||
| 9. TOTAL RECEIPTS | $ | 10,512.43 | $ | 10,000.21 | $ | - | $ | - | ||||||||
| DISBURSEMENTS | ||||||||||||||||
| 10. NET PAYROLL | ||||||||||||||||
| 11. PAYROLL TAXES PAID | ||||||||||||||||
| 12. SALES,USE & OTHER TAXES PAID | ||||||||||||||||
| 13. INVENTORY PURCHASES | ||||||||||||||||
| 14. MORTAGE PAYMENTS | ||||||||||||||||
| 15. OTHER SECURED NOTE PAYMENTS | ||||||||||||||||
| 16. RENTAL & LEASE PAYMENTS | ||||||||||||||||
| 17. UTILITIES | ||||||||||||||||
| 18. INSURANCE | $ | 1,048.43 | $ | 35,346.78 | ||||||||||||
| 19. VEHICLE EXPENSES | ||||||||||||||||
| 20. TRAVEL | ||||||||||||||||
| 21. ENTERTAINMENT | ||||||||||||||||
| 22. REPAIRS & MAINTENANCE | ||||||||||||||||
| 23. SUPPLIES | ||||||||||||||||
| 24. ADVERTISING | ||||||||||||||||
| 25. HOUSEHOLD EXPENSES | ||||||||||||||||
| 26. CHARITABLE CONTRIBUTIONS | ||||||||||||||||
| 27. GIFTS | ||||||||||||||||
| 28. OTHER (ATTACH LIST) | $ | 1,075.00 | $ | 34.32 | ||||||||||||
| 29. TOTAL ORDINARY DISBURSEMENTS | $ | 2,123.43 | $ | 35,381.10 | $ | - | $ | - | ||||||||
| REORGANIZATION EXPENSES | ||||||||||||||||
| 30. PROFESSIONAL FEES | ||||||||||||||||
| 31. U.S. TRUSTEE FEES | ||||||||||||||||
| 32. OTHER (ATTACH LIST) | ||||||||||||||||
| 33. TOTAL REORGANIZATION EXPENSES | $ | - | $ | - | $ | - | $ | - | ||||||||
| 34. TOTAL DISBURSEMENTS | $ | 2,123.43 | $ | 35,381.10 | $ | - | $ | - | ||||||||
| 35. NET CASH FLOW | $ | 8,389.00 | $ | (25,380.89 | ) | $ | - | $ | - | |||||||
| 36. CASH - END OF MONTH | $ | 59,637.28 | $ | 34,256.39 | $ | - | $ | - | ||||||||
| 1 | Attached Exhibit 1 lists all disbursements by LPI, Inc. on behalf of LPHI |
Monthly Operating Report
CASH BASIS-1A
2015
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| CASH DISBURSEMENTS DETAIL | MONTH: | March |
CASH DISBURSEMENTS
| DATE | PAYEE | PURPOSE | AMOUNT | |||||||||||
| TOTAL CASH DISBURSEMENTS | $ | - | ||||||||||||
BANK ACCOUNT DISBURSEMENTS
| CK# | DATE | PAYEE | PURPOSE | AMOUNT | ||||||||||
| 03/16/15 | Bank Acct Analysis Fee | $ | 34.32 | |||||||||||
| 1002 | 03/23/15 | AFCO | $ | 34,288.35 | ||||||||||
| 1003 | 03/23/15 | Allied Insurance | $ | 1,058.43 | ||||||||||
| TOTAL BANK ACCOUNT DISBURSEMENTS | $ | 35,381.10 | ||||||||||||
| TOTAL DISBURSEMENTS FOR THE MONTH | $ | 35,381.10 | ||||||||||||
| 1 | Attached Exhibit 1 lists all disbursements by LPI, Inc. on behalf of LPHI |
Monthly Operating Report
CASH BASIS-2
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
BANK RECONCILIATIONS
| Acct #1 | Acct #2 | Acct #3 | ||||||||||||
| A. BANK: | Bank of America | Alliance | ||||||||||||
| B. ACCOUNT NUMBER: | 3363 | 0613 | ||||||||||||
| C. PURPOSE (TYPE): | DIP Acct | MM | TOTAL | |||||||||||
| 1. BALANCE PER BANK STATEMENT | $ | 34,256.39 | $ | - | $ | 34,256.39 | ||||||||
| 2. ADD: TOTAL DEPOSITS NOT CREDITED | $ | - | ||||||||||||
| 3. SUBTRACT: OUTSTANDING CHECKS | $ | - | ||||||||||||
| 4. OTHER RECONCILING ITEMS | $ | - | ||||||||||||
| 5. MONTH END BALANCE PER BOOKS | $ | 34,256.39 | $ | - | $ | - | $ | 34,256.39 | ||||||
| 6. NUMBER OF LAST CHECK WRITTEN | 1003 | |||||||||||||
INVESTMENT ACCOUNTS
| DATE OF | TYPE OF | PURCHASE | CURRENT | |||||||||||||
| BANK, ACCOUNT NAME & NUMBER | PURCHASE | INSTRUMENT | PRICE | VALUE | ||||||||||||
| 7. | ||||||||||||||||
| 8. | ||||||||||||||||
| 9. | ||||||||||||||||
| 10. | ||||||||||||||||
| 11. TOTAL INVESTMENTS | $ | - | $ | - | ||||||||||||
CASH
| 12. CURRENCY ON HAND | $ | - | ||
| 13. TOTAL CASH - END OF MONTH | $ | 34,256.39 |
Monthly Operating Report
CASH BASIS-3
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
ASSETS OF THE ESTATE
| SCHEDULE "A" | SCHEDULE | |||||||||||||||
| REAL PROPERTY | AMOUNT | MONTH | MONTH | MONTH | ||||||||||||
| 1. 204 Woodhew Dr. Waco, TX 76712 | $ | 1,079,495.09 | ||||||||||||||
| 2. 8225 Central Park Dr. Waco, TX 76712 | $ | 1,109,143.75 | ||||||||||||||
| 3. | ||||||||||||||||
| 4. OTHER (ATTACH LIST) | ||||||||||||||||
| 5. TOTAL REAL PROPERTY ASSETS | $ | 2,188,638.84 | $ | - | $ | - | $ | - | ||||||||
| SCHEDULE "B" | ||||||||||||||||
| PERSONAL PROPERTY | ||||||||||||||||
| 1. CASH ON HAND | ||||||||||||||||
| 2. CHECKING, SAVINGS, ETC. | $ | 34,256.39 | ||||||||||||||
| 3. SECURITY DEPOSITS | ||||||||||||||||
| 4. HOUSEHOLD GOODS | ||||||||||||||||
| 5. BOOKS, PICTURES, ART | $ | 166,250.00 | ||||||||||||||
| 6. WEARING APPAREL | ||||||||||||||||
| 7. FURS AND JEWELRY | ||||||||||||||||
| 8. FIREARMS & SPORTS EQUIPMENT | ||||||||||||||||
| 9. INSURANCE POLICIES | ||||||||||||||||
| 10. ANNUITIES | ||||||||||||||||
| 11. EDUCATION | ||||||||||||||||
| 12. RETIREMENT & PROFIT SHARING | ||||||||||||||||
| 13. STOCKS | unknown | |||||||||||||||
| 14. PARTNERSHIPS & JOINT VENTURES | ||||||||||||||||
| 15. GOVERNMENT & CORPORATE BONDS | ||||||||||||||||
| 16. ACCOUNTS RECEIVABLE | ||||||||||||||||
| 17. ALIMONY | ||||||||||||||||
| 18. OTHER LIQUIDATED DEBTS | ||||||||||||||||
| 19. EQUITABLE INTERESTS | ||||||||||||||||
| 20. CONTINGENT INTERESTS | ||||||||||||||||
| 21. OTHER CLAIMS | ||||||||||||||||
| 22. PATENTS & COPYRIGHTS | ||||||||||||||||
| 23. LICENSES & FRANCHISES | ||||||||||||||||
| 24. CUSTOMER LISTS | ||||||||||||||||
| 25. AUTOS, TRUCKS & OTHER VEHICLES | ||||||||||||||||
| 26. BOATS & MOTORS | ||||||||||||||||
| 27. AIRCRAFT | ||||||||||||||||
| 28. OFFICE EQUIPMENT | ||||||||||||||||
| 29. MACHINERY, FIXTURES & EQUIPMENT | ||||||||||||||||
| 30. INVENTORY | ||||||||||||||||
| 31. ANIMALS | ||||||||||||||||
| 32. CROPS | ||||||||||||||||
| 33. FARMING EQUIPMENT | ||||||||||||||||
| 34. FARM SUPPLIES | ||||||||||||||||
| 35. OTHER (ATTACH LIST) | ||||||||||||||||
| 36. TOTAL PERSONAL PROPERTY ASSETS | $ | 200,506.39 | $ | - | $ | - | $ | - | ||||||||
| 37. TOTAL ASSETS | $ | 2,389,145.23 | $ | - | $ | - | $ | - | ||||||||
2 Item 13. Stocks: Value of LPI not included since financials were historically consolidated for reporting.
Monthly Operating Report
CASH BASIS-4
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | March |
LIABILITIES OF THE ESTATE
| PREPETITION | SCHEDULE | |||||||
| LIABILITIES | AMOUNT | PAYMENTS | ||||||
| 1. SECURED | $ | 267,504.86 | ||||||
| 2. PRIORITY | $ | 3,991,351.00 | ||||||
| 3. UNSECURED | $ | 48,518,137.38 | ||||||
| 4. OTHER (ATTACH LIST) | ||||||||
| 5. TOTAL PREPETITION LIABILITIES | $ | 52,776,993.24 | $ | - | ||||
| POSTPETITION | DATE | AMOUNT | DUE | AMOUNT | ||||||||||||
| LIABILITIES | INCURRED | OWED | DATE | PAST DUE | ||||||||||||
| 1. FEDERAL INCOME TAXES | ||||||||||||||||
| 2. FICA/MEDICARE | ||||||||||||||||
| 3. STATE TAXES | ||||||||||||||||
| 4. REAL ESTATE TAXES | ||||||||||||||||
| 5. OTHER TAXES (ATTACH LIST) | ||||||||||||||||
| 6. TOTAL TAXES | $ | - | $ | - | ||||||||||||
| OTHER POSTPETITION LIABILITIES INCLUDING TRADE CREDITORS (LIST NAMES OF CREDITORS) | ||||||||||||||||
| 7. Alexander Dubose Jefferson & Townsend LLP | $ | 21,197.17 | ||||||||||||||
| 8. American Express | $ | 5,644.97 | ||||||||||||||
| 9. American Stock Transfer | $ | 1,800.00 | ||||||||||||||
| 10. Law Offices of Douglas M. Berman, PLLC | $ | 22,376.25 | ||||||||||||||
| 11. Kevin Buchanan & Associates, P.L.L.C. | $ | 26,947.75 | ||||||||||||||
| 12. Carrington, Coleman, Sloman & Blumenthal, L.L.P. | $ | 541.00 | ||||||||||||||
| 13. First Advantage Litigation Consulting | $ | 11,535.00 | ||||||||||||||
| 14. Forshey & Prostok, LLP - IOLTA | $ | 139,705.93 | ||||||||||||||
| 15. Horwood, Marcus & Berk | $ | 3,257.50 | ||||||||||||||
| 16. HSPG & Associates, PC | $ | 23,287.02 | ||||||||||||||
| 17. Hudson & Calleja, LLC | $ | 1,975.00 | ||||||||||||||
| 18. The Johnson Law Firm | $ | 6,881.90 | ||||||||||||||
| 19. Kyle Mathis & Lucas LLP | $ | 1,367.97 | ||||||||||||||
| 20. C. Alfred Mackenzie | $ | 4,792.50 | ||||||||||||||
| 21. Meadows Collier Attorneys at Law | $ | 13,346.47 | ||||||||||||||
| 22. Meyer, Unkovic & Scott LLP | $ | 2,691.14 | ||||||||||||||
| 23. Pacer Service Center | $ | 765.80 | ||||||||||||||
| 23. Shackelford, Melton & McKinley | $ | 60.00 | ||||||||||||||
| 25. Sierra Delta, LLC | $ | 5,378.67 | ||||||||||||||
| 26. Squire Patton Boggs (US) LLP | $ | 4,936.22 | ||||||||||||||
| 27. West & Associates, L.L.P | $ | 10,165.00 | ||||||||||||||
| 28. Whitley Penn | $ | 61,337.13 | ||||||||||||||
| 29. (IF ADDITIONAL ATTACH LIST) | $ | 18,451.25 | ||||||||||||||
| 30. TOTAL OF LINES 7 - 29 | $ | 388,441.64 | $ | - | ||||||||||||
| 31. TOTAL POSTPETITION LIABILITIES | $ | 388,441.64 | $ | - | ||||||||||||
3 See Exhibit 2 for detail of Postpetition Liabilities
Monthly Operating Report
CASH BASIS-4A
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | March |
ACCOUNTS RECEIVABLE AGING
| SCHEDULE | ||||||||||||||||
| AMOUNT | MONTH | MONTH | MONTH | |||||||||||||
| 1. 0 - 30 | ||||||||||||||||
| 2. 31 - 60 | ||||||||||||||||
| 3. 61 - 90 | ||||||||||||||||
| 4. 91 + | ||||||||||||||||
| 5. TOTAL ACCOUNTS RECEIVABLE | $ | - | $ | - | $ | - | $ | - | ||||||||
| 6. AMOUNT CONSIDERED UNCOLLECTIBLE | ||||||||||||||||
| 7. ACCOUNTS RECEIVABLE (NET) | $ | - | $ | - | $ | - | $ | - | ||||||||
| AGING OF POSTPETITION TAXES AND PAYABLES | ||||||||||||||||
| 0 - 30 | 31-60 | 90+ | ||||||||||||||
| TAXES PAYABLE | DAYS | DAYS | DAYS | Total | ||||||||||||
| 1. FEDERAL | $ | - | ||||||||||||||
| 2. STATE | $ | - | ||||||||||||||
| 3. LOCAL | $ | - | ||||||||||||||
| 4. OTHER (ATTACH LIST) | $ | - | ||||||||||||||
| 5. TOTAL TAXES PAYABLE | $ | - | $ | - | $ | - | $ | - | ||||||||
| 6. ACCOUNTS PAYABLE | $ | 51,244.59 | $ | 337,197.05 | $ | - | $ | 388,441.64 | ||||||||
| STATUS OF POSTPETITION TAXES | ||||||||||||||||
| BEGINNING | AMOUNT | ENDING | ||||||||||||||
| TAX | WITHHELD | AMOUNT | TAX | |||||||||||||
| FEDERAL | LIABILITY | OR ACCRUED | PAID | LIABILITY | ||||||||||||
| 1. WITHHOLDING | $ | - | ||||||||||||||
| 2. FICA-EMPLOYEE | $ | - | ||||||||||||||
| 3. FICA-EMPLOYER | $ | - | ||||||||||||||
| 4. UNEMPLOYMENT | $ | - | ||||||||||||||
| 5. INCOME | $ | - | ||||||||||||||
| 6. OTHER (ATTACH LIST) | $ | - | ||||||||||||||
| 7. TOTAL FEDERAL TAXES | $ | - | $ | - | $ | - | $ | - | ||||||||
| STATE AND LOCAL | $ | - | ||||||||||||||
| 8. WITHHOLDING | $ | - | ||||||||||||||
| 9. SALES | $ | - | ||||||||||||||
| 10. EXCISE | $ | - | ||||||||||||||
| 11. UNEMPLOYMENT | $ | - | ||||||||||||||
| 12. REAL PROPERTY | $ | - | ||||||||||||||
| 13. PERSONAL PROPERTY | $ | - | ||||||||||||||
| 14. OTHER (ATTACH LIST) | $ | - | ||||||||||||||
| 15. TOTAL STATE & LOCAL | $ | - | $ | - | $ | - | $ | - | ||||||||
| 16. TOTAL TAXES | $ | - | $ | - | $ | - | $ | - | ||||||||
Monthly Operating Report
CASH BASIS-5
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | March |
PAYMENTS TO INSIDERS AND PROFESSIONALS
| INSIDERS | ||||||||||
| NAME | TYPE OF PAYMENT | AMOUNT PAID | TTL PD TO DATE | |||||||
| 1. | ||||||||||
| 2. | ||||||||||
| 3. | ||||||||||
| 4. | ||||||||||
| 5. | ||||||||||
| TOTAL PAYMENTS TO INSIDERS | $ | - | $ | - | ||||||
| PROFESSIONALS | ||||||||||||||||||
| DATE OF COURT ORDER | AMOUNT | AMOUNT | TTL PAID | TOTAL INCURRED | ||||||||||||||
| NAME | AUTHORIZING PAYMENT | APPROVED | PAID | TO DATE | & UNPAID | |||||||||||||
| 1. | ||||||||||||||||||
| 2. | ||||||||||||||||||
| 3. | ||||||||||||||||||
| 4. | ||||||||||||||||||
| 5. | ||||||||||||||||||
| TOTAL PAYMENTS TO PROFESSIONALS | $ | - | $ | - | $ | - | $ | - | ||||||||||
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
| SCHEDULED | AMOUNTS | TOTAL | ||||||||||
| MONTHLY | PAID | UNPAID | ||||||||||
| PAYMENTS | DURING | POST- | ||||||||||
| NAME OF CREDITOR | DUE | MONTH | PETITION | |||||||||
| 1. | ||||||||||||
| 2. | ||||||||||||
| 3. | ||||||||||||
| 4. | ||||||||||||
| 5. | ||||||||||||
| 6. TOTAL | $ | - | $ | - | $ | - | ||||||
Monthly Operating Report
CASH BASIS-6
| 2015 |
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | March |
| QUESTIONNAIRE | ||||||
| YES | NO | |||||
| 1. | HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? |
X | ||||
| 2. | HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? |
X | ||||
| 3. | ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES OR LOANS) DUE FROM RELATED PARTIES? |
X | ||||
| 4. | HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? |
X | ||||
| 5. | HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? |
X | ||||
| 6. | ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? | X | ||||
| 7. | ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? |
X | ||||
| 8. | ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? | X | ||||
| 9. | ARE ANY OTHER POSTPETITION TAXES PAST DUE? | X | ||||
| 10. | ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? |
X | ||||
| 11. | HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? |
X | ||||
| 12. | ARE ANY WAGE PAYMENTS PAST DUE? | X | ||||
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES"; PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
Questionnaire Item 2. See Exhibit 1.
Questionnaire Item 4. Approval of Motion for relief from automatic stay to pay AFCO for D&O insurance at 2/9/15 Hearing
INSURANCE
| YES | NO | |||||
| 1. | ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? |
X | ||||
| 2. | ARE ALL PREMIUM PAYMENTS PAID CURRENT? | X | ||||
| 3. | PLEASE ITEMIZE POLICIES BELOW | X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO" OR IF ANY POLICIES HAVE BEEN CANCELED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
| INSTALLMENT PAYMENTS | ||||||||
| TYPE OF | PERIOD | PAYMENT AMOUNT | ||||||
| POLICY | CARRIER | COVERED | & FREQUENCY | |||||
| Directors & Officers | Illinois National | 09/01/14 - 08/31/15 | ||||||
| Errors & Omissions | Indian Habor | 09/01/14 - 08/31/15 | ||||||
| Total for Financed thru AFCO | $ | 34,288.35/mo. | ||||||
| Commercial Package | Allied | 06/14/14 - 06/13/15 | $ | 1,058.43/mo. | ||||
*includes auto, building, edp, excess liability
| Life Partners Holdings Inc | Exhibit 1 |
| Distributions for LPHI Obligations | |
| Period Ending 3/31/15 |
| Number | Date Paid | Vendor | Paid by | Amount Paid | ||||||
| 111735 | 3/6/2015 | Wells Fargo Visa-Business Wire | LPI Check | $ | 1,778.35 | |||||
| 111817 | 3/23/2015 | American Express-Business Wire | LPI Check | $ | 2,275.00 | |||||
| 111817 | 3/23/2015 | American Express-Vintage Filings | LPI Check | $ | 1,124.00 | |||||
| Total Paid | $ | 5,177.35 | ||||||||
Date:
Time: User:
Thursday, April 30, 2015
04:37PM PTOY
Exhibit 2
DIP - LPHI
Period Sensitive Aged AP - Detail
Period: 01-16 As of: 4/30/2015
Page:
Report:
Company:
1 of 4
03681d.rpt
02
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days
Past Due 31 |
||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | |
| Company: | 20 | ||||||||||||||
| ALEX00 | Alexander Dubose Jefferson & T | A | |||||||||||||
| 233293 | 6287 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 317.17 | 0.00 | 0.00 | 317.17 | ||||
| 233294 | 6288 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 12,100.00 | 0.00 | 0.00 | 12,100.00 | ||||
| 233295 | 6288 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 7,080.00 | 0.00 | 0.00 | 7,080.00 | ||||
| 234017 | 6291 | VO | A | 4/22/2015 | 4/22/2015 | 0.00 | 13,140.00 | 0.00 | 0.00 | 0.00 | 13,140.00 | ||||
| 234028 | Rev6288 | AD | A | 4/24/2015 | 0.00 | -12,100.00 | 0.00 | 0.00 | 0.00 | -12,100.00 | |||||
| 234029 | Rev6288 | AD | A | 4/24/2015 | 0.00 | -7,080.00 | 0.00 | 0.00 | 0.00 | -7,080.00 | |||||
| 234030 | 6291 | VO | A | 4/24/2015 | 4/24/2015 | 0.00 | 7,080.00 | 0.00 | 0.00 | 0.00 | 7,080.00 | ||||
| 234031 | 6353 | VO | A | 4/24/2015 | 4/24/2015 | 0.00 | 660.00 | 0.00 | 0.00 | 0.00 | 660.00 | ||||
| Vendor Total | 0.00 | 1,700.00 | 19,497.17 | 0.00 | 0.00 | 21,197.17 | |||||||||
| AMER01 | American Express | ||||||||||||||
| 233899 | 9-93009xMar1 | VO | A | 3/30/2015 | 3/30/2015 | 3/30/2015 | 0.00 | 0.00 | 5,644.97 | 0.00 | 0.00 | 5,644.97 | |||
| Vendor Total | 0.00 | 0.00 | 5,644.97 | 0.00 | 0.00 | 5,644.97 | |||||||||
| AMER02 | American Stock Transfer & Trus | A | |||||||||||||
| 233512 | DFE 1008901 | VO | A | 3/19/2015 | 3/19/2015 | 3/19/2015 | 0.00 | 0.00 | 1,800.00 | 0.00 | 0.00 | 1,800.00 | |||
| Vendor Total | 0.00 | 0.00 | 1,800.00 | 0.00 | 0.00 | 1,800.00 | |||||||||
| BERM00 | Law Offices of Douglas M. Berm | A | |||||||||||||
| 232202 | LP01-21-2015 | VO | A | 3/1/2015 | 3/1/2015 | 0.00 | 0.00 | 4,712.50 | 0.00 | 0.00 | 4,712.50 | ||||
| 233297 | LP-02-2015 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 11,293.75 | 0.00 | 0.00 | 11,293.75 | ||||
| 233552 | LP-03-2015 | VO | A | 4/8/2015 | 4/8/2015 | 0.00 | 6,370.00 | 0.00 | 0.00 | 0.00 | 6,370.00 | ||||
| 233556 | Retnr-LP-01-2 | AD | A | 4/8/2015 | 0.00 | -4,712.50 | 0.00 | 0.00 | 0.00 | -4,712.50 | |||||
| 233558 | RetnrLP-02-20 | AD | A | 4/8/2015 | 0.00 | -656.25 | 0.00 | 0.00 | 0.00 | -656.25 | |||||
| 234079 | RevRetrLP-01 | VO | A | 4/8/2015 | 4/8/2015 | 0.00 | 4,712.50 | 0.00 | 0.00 | 0.00 | 4,712.50 | ||||
| 234080 | RetnrLP-02-20 | VO | A | 4/8/2015 | 4/8/2015 | 0.00 | 656.25 | 0.00 | 0.00 | 0.00 | 656.25 | ||||
| Vendor Total | 0.00 | 6,370.00 | 16,006.25 | 0.00 | 0.00 | 22,376.25 | |||||||||
| BUCH00 | Kevin Buchanan & Associates, P | A | |||||||||||||
| 232832 | 1355 | VO | A | 1/31/2015 | 1/31/2015 | 0.00 | 0.00 | 0.00 | 26,947.75 | 0.00 | 26,947.75 | ||||
Date:
Time: User:
Thursday, April 30, 2015
04:37PM PTOY
DIP - LPHI
Period Sensitive Aged AP - Detail
Period: 01-16 As of: 4/30/2015
Page:
Report:
Company:
2 of 4
03681d.rpt
02
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days Past Due 31 |
||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | |
| Vendor Total | 0.00 | 0.00 | 0.00 | 26,947.75 | 0.00 | 26,947.75 | |||||||||
| CARR06 | Carrington, Coleman, Sloman & | A | |||||||||||||
| 232849 | 317854 | VO | A | 2/13/2015 | 2/13/2015 | 0.00 | 0.00 | 0.00 | 541.00 | 0.00 | 541.00 | ||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 541.00 | 0.00 | 541.00 | |||||||||
| FIRS08 | First Advantage Litigation Con | A | |||||||||||||
| 233304 | 14602 | VO | A | 3/30/2015 | 3/30/2015 | 3/30/2015 | 0.00 | 0.00 | 11,535.00 | 0.00 | 0.00 | 11,535.00 | |||
| Vendor Total | 0.00 | 0.00 | 11535.00 | 0.00 | 0.00 | 11535.00 | |||||||||
| FORS00 | Forshey & Prostok, LLP - IOLTA | A | |||||||||||||
| 233290 | 28681-Jan15 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 78,075.53 | 0.00 | 0.00 | 78,075.53 | ||||
| 233291 | 28681-Feb15 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 59,822.90 | 0.00 | 0.00 | 59,822.90 | ||||
| 233292 | 28681-Mar15 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 1,807.50 | 0.00 | 0.00 | 1,807.50 | ||||
| Vendor Total | 0.00 | 0.00 | 139,705.93 | 0.00 | 0.00 | 139,705.93 | |||||||||
| HORW00 | Horwood, Marcus & Berk | A | |||||||||||||
| 233305 | 385452 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 105.00 | 0.00 | 0.00 | 105.00 | ||||
| 233935 | 387204 | VO | A | 4/22/2015 | 4/22/2015 | 0.00 | 3,152.50 | 0.00 | 0.00 | 0.00 | 3,152.50 | ||||
| Vendor Total | 0.00 | 3,152.50 | 105.00 | 0.00 | 0.00 | 3,257.50 | |||||||||
| HSPG00 | HSPG & Associates, PC | A | |||||||||||||
| 232726 | 15-007 | VO | A | 2/7/2015 | 2/7/2015 | 2/7/2015 | 0.00 | 0.00 | 0.00 | 3,786.75 | 0.00 | 3,786.75 | |||
| 233113 | 15-024 | VO | A | 3/6/2015 | 3/6/2015 | 3/6/2015 | 0.00 | 0.00 | 18,699.57 | 0.00 | 0.00 | 18,699.57 | |||
| 233114 | 15-007 | AD | A | 2/7/2015 | 2/7/2015 | 0.00 | 0.00 | 0.00 | -3,786.75 | 0.00 | -3,786.75 | ||||
| 233869 | 15-041 | VO | A | 4/3/2015 | 4/3/2015 | 4/3/2015 | 0.00 | 4,587.45 | 0.00 | 0.00 | 0.00 | 4,587.45 | |||
| Vendor Total | 0.00 | 4,587.45 | 18,699.57 | 0.00 | 0.00 | 23,287.02 | |||||||||
| HUDS00 | Hudson & Calleja, LLC | A | |||||||||||||
| 233306 | 5537 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 1,685.00 | 0.00 | 0.00 | 1,685.00 | ||||
| 233307 | 5537 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 290.00 | 0.00 | 0.00 | 290.00 | ||||
| Vendor Total | 0.00 | 0.00 | 1,975.00 | 0.00 | 0.00 | 1,975.00 | |||||||||
| INTE19 | Interworks | A | |||||||||||||
| 233936 | 170842 | VO | A | 4/22/2015 | 4/22/2015 | 0.00 | 16,501.25 | 0.00 | 0.00 | 0.00 | 16,501.25 | ||||
| Vendor Total | 0.00 | 16,501.25 | 0.00 | 0.00 | 0.00 | 16,501.25 | |||||||||
Date:
Time: User:
Thursday, April 30, 2015
04:37PM PTOY
DIP - LPHI
Period Sensitive Aged AP - Detail
Period: 01-16 As of: 4/30/2015
Page:
Report:
Company:
3 of 4
03681d.rpt
02
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days Past Due 31 |
||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | |
| JOHN14 | The Johnson Law Firm | A | |||||||||||||
| 233300 | 2 | VO | A | 3/4/2015 | 3/4/2015 | 0.00 | 0.00 | 5,995.00 | 0.00 | 0.00 | 5,995.00 | ||||
| 233303 | 3 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 886.90 | 0.00 | 0.00 | 886.90 | ||||
| Vendor Total | 0.00 | 0.00 | 6,881.90 | 0.00 | 0.00 | 6,881.90 | |||||||||
| KYLE00 | Kyle Mathis & Lucas LLP | A | |||||||||||||
| 233296 | 14104 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 492.66 | 0.00 | 0.00 | 492.66 | ||||
| 233299 | 14084 | VO | A | 3/4/2015 | 3/4/2015 | 0.00 | 0.00 | 875.31 | 0.00 | 0.00 | 875.31 | ||||
| Vendor Total | 0.00 | 0.00 | 1,367.97 | 0.00 | 0.00 | 1,367.97 | |||||||||
| MACK00 | C. Alfred Mackenzie | A | |||||||||||||
| 233115 | LPHI LegalMa | VO | A | 3/9/2015 | 3/9/2015 | 3/9/2015 | 0.00 | 0.00 | 3,802.50 | 0.00 | 0.00 | 3,802.50 | |||
| 233116 | LPHI LegalMa | VO | A | 3/9/2015 | 3/9/2015 | 3/9/2015 | 0.00 | 0.00 | 990.00 | 0.00 | 0.00 | 990.00 | |||
| Vendor Total | 0.00 | 0.00 | 4,792.50 | 0.00 | 0.00 | 4,792.50 | |||||||||
| MEAD01 | Meadows Collier Attorneys at L | A | |||||||||||||
| 233120 | 128856 VO | A | 3/19/2015 | 3/19/2015 | 0.00 | 0.00 | 10,101.19 | 0.00 | 0.00 | 10,101.19 | |||||
| 233553 | 129135 VO | A | 4/8/2015 | 4/8/2015 | 0.00 | 3,245.28 | 0.00 | 0.00 | 0.00 | 3,245.28 | |||||
| Vendor Total | 0.00 | 3,245.28 | 10,101.19 | 0.00 | 0.00 | 13,346.47 | |||||||||
| MEYE00 | Meyer, Unkovic & Scott LLP | A | |||||||||||||
| 231927 | 1223264 | VO | A | 3/7/2015 | 3/7/2015 | 3/7/2015 | 0.00 | 0.00 | 257.50 | 0.00 | 0.00 | 257.50 | |||
| 233298 | 1224475 | VO | A | 4/16/2015 | 4/16/2015 | 4/16/2015 | 0.00 | 2,433.64 | 0.00 | 0.00 | 0.00 | 2,433.64 | |||
| Vendor Total | 0.00 | 2,433.64 | 257.50 | 0.00 | 0.00 | 2,691.14 | |||||||||
| PACE00 | Pacer Service Center | ||||||||||||||
| 233911 | 2589681-Q12 | VO | A | 4/10/2015 | 5/08/2015 | 4/29/2015 | 765.80 | 0.00 | 0.00 | 0.00 | 0.00 | 765.80 | |||
| Vendor Total | 765.80 | 0.00 | 0.00 | 0.00 | 0.00 | 765.80 | |||||||||
| SHAC00 | Shackelford, Melton & McKinley | ||||||||||||||
| 233118 | 174733 | VO | A | 4/09/2015 | 4/09/2015 | 4/09/2015 | 0.00 | 60.00 | 0.00 | 0.00 | 0.00 | 60.00 | |||
| Vendor Total | 0.00 | 60.00 | 0.00 | 0.00 | 0.00 | 60.00 | |||||||||
| SHAR03 | Shareholder.com | A | |||||||||||||
| 232029 | 0115SHAR16 | VO | A | 2/27/2015 | 2/27/2015 | 0.00 | 0.00 | 0.00 | 4388.33 | 0.00 | 4388.33 | ||||
| 234077 | 0115shar1619 | VO | A | 2/27/2015 | 0.00 | 0.00 | 0.00 | -4,388.33 | 0.00 | -4,388.33 | |||||
Date:
Time: User:
Thursday, April 30, 2015
04:37PM PTOY
DIP - LPHI
Period Sensitive Aged AP - Detail
Period: 01-16 As of: 4/30/2015
Page:
Report:
Company:
4 of 4
03681d.rpt
02
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days Past Due 31 |
||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | |
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||
| SIERR00 | Sierra Delta, LLC | A | |||||||||||||
| 233532 | 15-08TK | VO | A | 4/6/2015 | 4/6/2015 | 0.00 | 5,378.67 | 0.00 | 0.00 | 0.00 | 5,378.67 | ||||
| Vendor Total | 0.00 | 5,378.67 | 0.00 | 0.00 | 0.00 | 5,378.67 | |||||||||
| SQUI01 | Squire Patton Bogg | A | |||||||||||||
| 233301 | 10426961 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 2,912.22 | 0.00 | 0.00 | 2,912.22 | ||||
| 233302 | 10426961 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 2,024.00 | 0.00 | 0.00 | 2,024.00 | ||||
| Vendor Total | 0.00 | 0.00 | 4,936.22 | 0.00 | 0.00 | 4,936.22 | |||||||||
| USTR00 | U.S. Trustee | A | |||||||||||||
| 233938 | Qtr1-2015 | VO | A | 4/22/2015 | 4/22/2015 | 0.00 | 1,950.00 | 0.00 | 0.00 | 0.00 | 1,950.00 | ||||
| Vendor Total | 0.00 | 1,950.00 | 0.00 | 0.00 | 0.00 | 1,950.00 | |||||||||
| WEST12 | West & Associates, | L.L.P | A | ||||||||||||
| 232850 | 15249 | VO | A | 2/17/2015 | 2/17/2015 | 0.00 | 0.00 | 0.00 | 6,927.50 | 0.00 | 6,927.50 | ||||
| 232851 | 15249-ApplyR | AD | A | 2/17/2015 | 0.00 | 0.00 | 0.00 | -4,750.77 | 0.00 | -4,750.77 | |||||
| 233310 | 15301 | VO | A | 3/24/2015 | 3/24/2015 | 0.00 | 0.00 | 3,237.50 | 0.00 | 0.00 | 3,237.50 | ||||
| 234078 | 15249RevRet | VO | A | 2/17/2015 | 2/17/2015 | 0.00 | 0.00 | 0.00 | 4,750.77 | 0.00 | 4,750.77 | ||||
| Vendor Total | 0.00 | 0.00 | 3,237.50 | 6,927.50 | 0.00 | 10,165.00 | |||||||||
| WHIT03 | Whitley Penn | A | |||||||||||||
| 232727 | 226512 | VO | A | 2/9/2015 | 2/9/2015 | 2/9/2015 | 0.00 | 0.00 | 0.00 | 1,007.00 | 0.00 | 1,007.00 | |||
| 232728 | 227700 | VO | A | 2/18/2015 | 2/18/2015 | 2/18/2015 | 0.00 | 0.00 | 0.00 | 2,442.13 | 0.00 | 2,442.13 | |||
| 233119 | 228161 | VO | A | 3/9/2015 | 3/9/2015 | 3/9/2015 | 0.00 | 0.00 | 50,888.00 | 0.00 | 0.00 | 50,888.00 | |||
| 233121 | 228588 | VO | A | 3/16/2015 | 3/16/2015 | 3/16/2015 | 0.00 | 0.00 | 1,900.00 | 0.00 | 0.00 | 1,900.00 | |||
| 234059 | 232198 | VO | A | 4/23/2015 | 4/23/2015 | 4/23/2015 | 0.00 | 5,100.00 | 0.00 | 0.00 | 0.00 | 5,100.00 | |||
| Vendor Total | 0.00 | 5,100.00 | 52,788.00 | 3,449.13 | 0.00 | 61,337.13 | |||||||||
| Company Total | 765.80 | 50,478.79 | 299,331.67 | 37,865.38 | 0.00 | 388,441.64 | |||||||||
Exhibit 99.19
Monthly Operating Report
CASH BASIS
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| JUDGE: | Russell Nelms |
UNITED STATES BANKRUPTCY COURT
NORTHERN & EASTERN DISTRICTS OF TEXAS
REGION 6
MONTHLY OPERATING REPORT
| MONTH ENDING: | February | 2015 | *Includes 1/21/15 to 2/28/15 | ||
| MONTH | YEAR | ||||
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (CASH BASIS-1 THROUGH CASH BASIS-6) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT, AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
RESPONSIBLE PARTY:
| /s/ Colette Pieper | CEO | |
| ORIGINAL SIGNATURE OF RESPONSIBLE PARTY | TITLE | |
| Colette Pieper | 4/30/2015 | |
| PRINTED NAME OF RESPONSIBLE PARTY | DATE |
| PREPARER: | ||
| /s/ Colette Pieper | CEO | |
| ORIGINAL SIGNATURE OF PREPARER | TITLE | |
| Colette Pieper | 4/30/2015 | |
| PRINTED NAME OF PREPARER | DATE |
Monthly Operating Report
CASH BASIS-1
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| CASH RECEIPTS AND | Jan 21, 2015 to | |||||||||||||||
| DISBURSEMENTS | Feb 28, 2015 | |||||||||||||||
| 1. CASH - BEGINNING OF MONTH | $ | 51,248.28 | ||||||||||||||
| RECEIPTS | ||||||||||||||||
| 2. CASH SALES | ||||||||||||||||
| 3. ACCOUNTS RECEIVABLE COLLECTIONS | ||||||||||||||||
| 4. LOANS AND ADVANCES | ||||||||||||||||
| 5. SALE OF ASSETS | ||||||||||||||||
| 6. LEASE & RENTAL INCOME | $ | 10,500.00 | ||||||||||||||
| 7. WAGES | ||||||||||||||||
| 8. OTHER (ATTACH LIST) | $ | 12.43 | ||||||||||||||
| 9. TOTAL RECEIPTS | $ | 10,512.43 | ||||||||||||||
| DISBURSEMENTS | ||||||||||||||||
| 10. NET PAYROLL | ||||||||||||||||
| 11. PAYROLL TAXES PAID | ||||||||||||||||
| 12. SALES,USE & OTHER TAXES PAID | ||||||||||||||||
| 13. INVENTORY PURCHASES | ||||||||||||||||
| 14. MORTAGE PAYMENTS | ||||||||||||||||
| 15. OTHER SECURED NOTE PAYMENTS | ||||||||||||||||
| 16. RENTAL & LEASE PAYMENTS | ||||||||||||||||
| 17. UTILITIES | ||||||||||||||||
| 18. INSURANCE | $ | 1,048.43 | ||||||||||||||
| 19. VEHICLE EXPENSES | ||||||||||||||||
| 20. TRAVEL | ||||||||||||||||
| 21. ENTERTAINMENT | ||||||||||||||||
| 22. REPAIRS & MAINTENANCE | ||||||||||||||||
| 23. SUPPLIES | ||||||||||||||||
| 24. ADVERTISING | ||||||||||||||||
| 25. HOUSEHOLD EXPENSES | ||||||||||||||||
| 26. CHARITABLE CONTRIBUTIONS | ||||||||||||||||
| 27. GIFTS | ||||||||||||||||
| 28. OTHER (ATTACH LIST) | $ | 1,075.00 | ||||||||||||||
| 29. TOTAL ORDINARY DISBURSEMENTS | $ | 2,123.43 | ||||||||||||||
| REORGANIZATION EXPENSES | ||||||||||||||||
| 30. PROFESSIONAL FEES | ||||||||||||||||
| 31. U.S. TRUSTEE FEES | ||||||||||||||||
| 32. OTHER (ATTACH LIST) | ||||||||||||||||
| 33. TOTAL REORGANIZATION EXPENSES | $ | - | ||||||||||||||
| 34. TOTAL DISBURSEMENTS | $ | 2,123.43 | ||||||||||||||
| 35. NET CASH FLOW | $ | 8,389.00 | ||||||||||||||
| 36. CASH - END OF MONTH | $ | 59,637.28 | ||||||||||||||
1 Attached Exhibit 1 lists all disbursements by LPI, Inc. on behalf of LPHI
Monthly Operating Report
CASH BASIS-1A
2015
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| CASH DISBURSEMENTS DETAIL | MONTH: | February |
CASH DISBURSEMENTS
| DATE | PAYEE | PURPOSE | AMOUNT | |||||||||
| TOTAL CASH DISBURSEMENTS | $ | - | ||||||||||
BANK ACCOUNT DISBURSEMENTS
| CK# | DATE | PAYEE | PURPOSE | AMOUNT | ||||||||
| 1000 | 02/17/15 | Allied Insurance | $ | 1,048.43 | ||||||||
| 02/17/15 | Bank Acct Analysis Fee | $ | 25.00 | |||||||||
| 1001 | 02/27/15 | American Stock Transfer | $ | 1,050.00 | ||||||||
| TOTAL BANK ACCOUNT DISBURSEMENTS | $ | 2,123.43 | ||||||||||
| TOTAL DISBURSEMENTS FOR THE MONTH | $ | 2,123.43 | ||||||||||
1 Attached Exhibit 1 lists all disbursements by LPI, Inc. on behalf of LPHI
Monthly Operating Report
CASH BASIS-2
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
BANK RECONCILIATIONS
| Acct #1 | Acct #2 | Acct #3 | ||||||||||||||
| A. BANK: | Bank of America | Alliance | ||||||||||||||
| B. ACCOUNT NUMBER: | 3363 | 0613 | ||||||||||||||
| C. PURPOSE (TYPE): | DIP Acct | MM | TOTAL | |||||||||||||
| 1. BALANCE PER BANK STATEMENT | $ | 29,924.76 | $ | 30,762.52 | $ | 60,687.28 | ||||||||||
| 2. ADD: TOTAL DEPOSITS NOT CREDITED | $ | - | ||||||||||||||
| 3. SUBTRACT: OUTSTANDING CHECKS | $ | 1,050.00 | $ | 1,050.00 | ||||||||||||
| 4. OTHER RECONCILING ITEMS | $ | - | ||||||||||||||
| 5. MONTH END BALANCE PER BOOKS | $ | 28,874.76 | $ | 30,762.52 | $ | - | $ | 59,637.28 | ||||||||
| 6. NUMBER OF LAST CHECK WRITTEN | 1001 | |||||||||||||||
INVESTMENT ACCOUNTS
| DATE OF | TYPE OF | PURCHASE | CURRENT | |||||||||||||
| BANK, ACCOUNT NAME & NUMBER | PURCHASE | INSTRUMENT | PRICE | VALUE | ||||||||||||
| 7. | ||||||||||||||||
| 8. | ||||||||||||||||
| 9. | ||||||||||||||||
| 10. | ||||||||||||||||
| 11. TOTAL INVESTMENTS | $ | - | $ | - | ||||||||||||
| CASH | ||||||||||||||||
| 12. CURRENCY ON HAND | $ | - | ||||||||||||||
| 13. TOTAL CASH - END OF MONTH | $ | 59,637.28 | ||||||||||||||
Monthly Operating Report
CASH BASIS-3
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| ASSETS OF THE ESTATE | |
| SCHEDULE "A" | SCHEDULE | |||||||||||||||
| REAL PROPERTY | AMOUNT | MONTH | MONTH | MONTH | ||||||||||||
| 1. 204 Woodhew Dr. Waco, TX 76712 Lot A6 | $ | 1,079,495.09 | ||||||||||||||
| 2. 204 Woodhew Dr. Waco, TX 76712 Lot B6 | ||||||||||||||||
| 3. 8225 Central Park Dr. Waco, TX 76712 | $ | 1,109,143.75 | ||||||||||||||
| 4. OTHER (ATTACH LIST) | ||||||||||||||||
| 5. TOTAL REAL PROPERTY ASSETS | $ | 2,188,638.84 | $ | - | $ | - | $ | - | ||||||||
| SCHEDULE "B" | ||||||||||||||||
| PERSONAL PROPERTY | ||||||||||||||||
| 1. CASH ON HAND | ||||||||||||||||
| 2. CHECKING, SAVINGS, ETC. | $ | 59,637.28 | ||||||||||||||
| 3. SECURITY DEPOSITS | ||||||||||||||||
| 4. HOUSEHOLD GOODS | ||||||||||||||||
| 5. BOOKS, PICTURES, ART | $ | 166,250.00 | ||||||||||||||
| 6. WEARING APPAREL | ||||||||||||||||
| 7. FURS AND JEWELRY | ||||||||||||||||
| 8. FIREARMS & SPORTS EQUIPMENT | ||||||||||||||||
| 9. INSURANCE POLICIES | ||||||||||||||||
| 10. ANNUITIES | ||||||||||||||||
| 11. EDUCATION | ||||||||||||||||
| 12. RETIREMENT & PROFIT SHARING | ||||||||||||||||
| 13. STOCKS | unknown | |||||||||||||||
| 14. PARTNERSHIPS & JOINT VENTURES | ||||||||||||||||
| 15. GOVERNMENT & CORPORATE BONDS | ||||||||||||||||
| 16. ACCOUNTS RECEIVABLE | ||||||||||||||||
| 17. ALIMONY | ||||||||||||||||
| 18. OTHER LIQUIDATED DEBTS | ||||||||||||||||
| 19. EQUITABLE INTERESTS | ||||||||||||||||
| 20. CONTINGENT INTERESTS | ||||||||||||||||
| 21. OTHER CLAIMS | ||||||||||||||||
| 22. PATENTS & COPYRIGHTS | ||||||||||||||||
| 23. LICENSES & FRANCHISES | ||||||||||||||||
| 24. CUSTOMER LISTS | ||||||||||||||||
| 25. AUTOS, TRUCKS & OTHER VEHICLES | ||||||||||||||||
| 26. BOATS & MOTORS | ||||||||||||||||
| 27. AIRCRAFT | ||||||||||||||||
| 28. OFFICE EQUIPMENT | ||||||||||||||||
| 29. MACHINERY, FIXTURES & EQUIPMENT | ||||||||||||||||
| 30. INVENTORY | ||||||||||||||||
| 31. ANIMALS | ||||||||||||||||
| 32. CROPS | ||||||||||||||||
| 33. FARMING EQUIPMENT | ||||||||||||||||
| 34. FARM SUPPLIES | ||||||||||||||||
| 35. OTHER (ATTACH LIST) | ||||||||||||||||
| 36. TOTAL PERSONAL PROPERTY ASSETS | $ | 225,887.28 | $ | - | $ | - | $ | - | ||||||||
| 37. TOTAL ASSETS | $ | 2,414,526.12 | $ | - | $ | - | $ | - | ||||||||
2 Item 13. Stocks: Value of LPI not included since financials were historically consolidated for reporting.
Monthly Operating Report
CASH BASIS-4
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | February |
LIABILITIES OF THE ESTATE
| PREPETITION | SCHEDULE | |||||||||||||||
| LIABILITIES | AMOUNT | PAYMENTS | ||||||||||||||
| 1. SECURED | $ | 267,504.86 | ||||||||||||||
| 2. PRIORITY | $ | 3,991,351.00 | ||||||||||||||
| 3. UNSECURED | $ | 48,518,137.38 | ||||||||||||||
| 4. OTHER (ATTACH LIST) | ||||||||||||||||
| 5. TOTAL PREPETITION LIABILITIES | $ | 52,776,993.24 | $ | - | ||||||||||||
| POSTPETITION | DATE | AMOUNT | DUE | AMOUNT | ||||||||||||
| LIABILITIES | INCURRED | OWED | DATE | PAST DUE | ||||||||||||
| 1. FEDERAL INCOME TAXES | ||||||||||||||||
| 2. FICA/MEDICARE | ||||||||||||||||
| 3. STATE TAXES | ||||||||||||||||
| 4. REAL ESTATE TAXES | ||||||||||||||||
| 5. OTHER TAXES (ATTACH LIST) | ||||||||||||||||
| 6. TOTAL TAXES | $ | - | $ | - | ||||||||||||
| OTHER POSTPETITION LIABILITIES INCLUDING TRADE CREDITORS (LIST NAMES OF CREDITORS) | ||||||||||||||||
| 7. Alexander Dubose Jefferson & Townsend LLP | $ | 20,537.17 | ||||||||||||||
| 8. Law Offices of Douglas M. Berman, PLLC | $ | 16,006.25 | ||||||||||||||
| 9. Kevin Buchanan & Associates, P.L.L.C. | $ | 26,947.75 | ||||||||||||||
| 10. Carrington, Coleman, Sloman & Blumenthal, L.L.P. | $ | 541.00 | ||||||||||||||
| 11. First Advantage Litigation Consulting | $ | 11,535.00 | ||||||||||||||
| 12. Forshey & Prostok, LLP - IOLTA | $ | 137,898.43 | ||||||||||||||
| 13. Horwood, Marcus & Berk | $ | 105.00 | ||||||||||||||
| 14. HSPG & Associates, PC | $ | 18,699.57 | ||||||||||||||
| 15. Hudson & Calleja, LLC | $ | 1,975.00 | ||||||||||||||
| 16. The Johnson Law Firm | $ | 6,881.90 | ||||||||||||||
| 17. Kyle Mathis & Lucas LLP | $ | 1,367.97 | ||||||||||||||
| 18. C. Alfred Mackenzie | $ | 3,802.50 | ||||||||||||||
| 19. Meadows Collier Attorneys at Law | $ | 10,101.19 | ||||||||||||||
| 20. Meyer, Unkovic & Scott LLP | $ | 2,691.14 | ||||||||||||||
| 21. Shackelford, Melton & McKinley | $ | 60.00 | ||||||||||||||
| 22. Shareholder.com | $ | - | ||||||||||||||
| 23. Squire Patton Boggs (US) LLP | $ | 4,936.22 | ||||||||||||||
| 24. West & Associates, L.L.P | $ | 10,165.00 | ||||||||||||||
| 25. Whitley Penn | $ | 56,237.13 | ||||||||||||||
| 26. | ||||||||||||||||
| 27. | ||||||||||||||||
| 28. | ||||||||||||||||
| 29. (IF ADDITIONAL ATTACH LIST) | ||||||||||||||||
| 30. TOTAL OF LINES 7 - 29 | $ | 330,488.22 | $ | - | ||||||||||||
| 31. TOTAL POSTPETITION LIABILITIES | $ | 330,488.22 | $ | - | ||||||||||||
3 See Exhibit 2 for detail of Postpetition Liabilities
Monthly Operating Report
CASH BASIS-4A
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | February |
ACCOUNTS RECEIVABLE AGING
| SCHEDULE | ||||||||||||||||
| AMOUNT | MONTH | MONTH | MONTH | |||||||||||||
| 1. 0 - 30 | ||||||||||||||||
| 2. 31 - 60 | ||||||||||||||||
| 3. 61 - 90 | ||||||||||||||||
| 4. 91 + | ||||||||||||||||
| 5. TOTAL ACCOUNTS RECEIVABLE | $ | - | $ | - | $ | - | $ | - | ||||||||
| 6. AMOUNT CONSIDERED UNCOLLECTIBLE | ||||||||||||||||
| 7. ACCOUNTS RECEIVABLE (NET) | $ | - | $ | - | $ | - | $ | - | ||||||||
AGING OF POSTPETITION TAXES AND PAYABLES
| 0 - 30 | 31-60 | 90+ | ||||||||||||||
| TAXES PAYABLE | DAYS | DAYS | DAYS | Total | ||||||||||||
| 1. FEDERAL | $ | - | ||||||||||||||
| 2. STATE | $ | - | ||||||||||||||
| 3. LOCAL | $ | - | ||||||||||||||
| 4. OTHER (ATTACH LIST) | $ | - | ||||||||||||||
| 5. TOTAL TAXES PAYABLE | $ | - | $ | - | $ | - | $ | - | ||||||||
| 6. ACCOUNTS PAYABLE | $ | 3,533.64 | $ | 326,954.58 | $ | - | $ | 330,488.22 | ||||||||
| STATUS OF POSTPETITION TAXES | ||||||||||||||||
| BEGINNING | AMOUNT | ENDING | ||||||||||||||
| TAX | WITHHELD | AMOUNT | TAX | |||||||||||||
| FEDERAL | LIABILITY | OR ACCRUED | PAID | LIABILITY | ||||||||||||
| 1. WITHHOLDING | $ | - | ||||||||||||||
| 2. FICA-EMPLOYEE | $ | - | ||||||||||||||
| 3. FICA-EMPLOYER | $ | - | ||||||||||||||
| 4. UNEMPLOYMENT | $ | - | ||||||||||||||
| 5. INCOME | $ | - | ||||||||||||||
| 6. OTHER (ATTACH LIST) | $ | - | ||||||||||||||
| 7. TOTAL FEDERAL TAXES | $ | - | $ | - | $ | - | $ | - | ||||||||
| STATE AND LOCAL | $ | - | ||||||||||||||
| 8. WITHHOLDING | $ | - | ||||||||||||||
| 9. SALES | $ | - | ||||||||||||||
| 10. EXCISE | $ | - | ||||||||||||||
| 11. UNEMPLOYMENT | $ | - | ||||||||||||||
| 12. REAL PROPERTY | $ | - | ||||||||||||||
| 13. PERSONAL PROPERTY | $ | - | ||||||||||||||
| 14. OTHER (ATTACH LIST) | $ | - | ||||||||||||||
| 15. TOTAL STATE & LOCAL | $ | - | $ | - | $ | - | $ | - | ||||||||
| 16. TOTAL TAXES | $ | - | $ | - | $ | - | $ | - | ||||||||
Monthly Operating Report
CASH BASIS-5
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | February |
| PAYMENTS TO INSIDERS AND PROFESSIONALS | ||||||||||||
| INSIDERS | ||||||||||||
| NAME | TYPE OF PAYMENT | AMOUNT PAID | TTL PD TO DATE | |||||||||
| 1. | ||||||||||||
| 2. | ||||||||||||
| 3. | ||||||||||||
| 4. | ||||||||||||
| 5. | ||||||||||||
| TOTAL PAYMENTS TO INSIDERS | $ | - | $ | - | ||||||||
| PROFESSIONALS | ||||||||||||||||||||
| DATE OF COURT ORDER | AMOUNT | AMOUNT | TTL PAID | TOTAL INCURRED | ||||||||||||||||
| NAME | AUTHORIZING PAYMENT | APPROVED | PAID | TO DATE | & UNPAID | |||||||||||||||
| 1. | ||||||||||||||||||||
| 2. | ||||||||||||||||||||
| 3. | ||||||||||||||||||||
| 4. | ||||||||||||||||||||
| 5. | ||||||||||||||||||||
| TOTAL PAYMENTS TO PROFESSIONALS | $ | - | $ | - | $ | - | $ | - | ||||||||||||
POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
| SCHEDULED | AMOUNTS | TOTAL | ||||||||||
| MONTHLY | PAID | UNPAID | ||||||||||
| PAYMENTS | DURING | POST- | ||||||||||
| NAME OF CREDITOR | DUE | MONTH | PETITION | |||||||||
| 1. | ||||||||||||
| 2. | ||||||||||||
| 3. | ||||||||||||
| 4. | ||||||||||||
| 5. | ||||||||||||
| 6. TOTAL | $ | - | $ | - | $ | - | ||||||
Monthly Operating Report
CASH BASIS-6
2015
| CASE NAME: | Life Partners Holdings, Inc. |
| CASE NUMBER: | 15-40289-rfn-11 |
| MONTH: | February |
QUESTIONNAIRE
| YES | NO | |||||
| 1. | HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? | X | ||||
| 2. | HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? | X | ||||
| 3. | ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES OR LOANS) DUE FROM RELATED PARTIES? | X | ||||
| 4. | HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? | X | ||||
| 5. | HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? | X | ||||
| 6. | ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? | X | ||||
| 7. | ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? | X | ||||
| 8. | ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? | X | ||||
| 9. | ARE ANY OTHER POSTPETITION TAXES PAST DUE? | X | ||||
| 10. | ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? | X | ||||
| 11. | HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? | X | ||||
| 12. | ARE ANY WAGE PAYMENTS PAST DUE? | X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES"; PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
Questionnaire Item 2. See Exhibit 1.
Questionnaire Item 4. Approval of Motion for relief from automatic stay to pay AFCO for D&O insurance at 2/9/15 Hearing
INSURANCE
| YES | NO | |||||
| 1. | ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? | X | ||||
| 2. | ARE ALL PREMIUM PAYMENTS PAID CURRENT? | X | ||||
| 3. | PLEASE ITEMIZE POLICIES BELOW | X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO" OR IF ANY POLICIES HAVE BEEN CANCELED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSTALLMENT PAYMENTS
| TYPE OF | PERIOD | PAYMENT AMOUNT | ||||||
| POLICY | CARRIER | COVERED | & FREQUENCY | |||||
| Directors & Officers | Illinois National | 09/01/14 - 08/31/15 | ||||||
| Errors & Omissions | Indian Habor | 09/01/14 - 08/31/15 | ||||||
| Total for Financed thru AFCO | $ | 34,288.35 /mo. | ||||||
| Commercial Package | Allied | 06/14/14 - 06/13/15 | $ | 1,048.43 /mo. | ||||
*includes auto, building, edp, excess liability
| Life Partners Holdings Inc | Exhibit 1 |
| Distributions for LPHI Obligations | |
| Period Ending 2/28/15 |
| Number | Date Paid | Vendor | Paid by | Amount Paid | Jan 21-31, 2015 | February | ||||||||||||
| 2015012701 | 1/27/2015 | The Nasdaq Stock Market, LLC | LPI Wire | $ | 10,000.00 | $ | 10,000.00 | |||||||||||
| 2015020402 | 2/4/2015 | Business Wire, Inc | LPI Wire | $ | 1,875.00 | $ | 1,875.00 | |||||||||||
| 2015020501 | 2/5/2015 | Pronske, Goolsby & Kathman, P.C. | LPI Wire | $ | 100,000.00 | $ | 100,000.00 | |||||||||||
| 111513 | 2/6/2015 | American Express-Business Wire | LPI Check | $ | 2,118.75 | $ | 2,118.75 | |||||||||||
| 2015021001 | 2/10/2015 | AFCO | LPI Wire | $ | 34,288.35 | $ | 34,288.35 | |||||||||||
| 111605 | 2/16/2015 | Kevin Buchanan & Associates | LPI Check | $ | 36,186.46 | $ | 36,186.46 | |||||||||||
| 2015022501 | 2/25/2015 | AFCO | LPI Wire | $ | 34,288.35 | $ | 34,288.35 | |||||||||||
| Total Paid | $ | 218,756.91 | $ | 10,000.00 | $ | 208,756.91 | ||||||||||||
Date:
Time: User:
Thursday, April 30, 2015
04:14PM PTOY
Exhibit 2
DIP - LPHI
Period Sensitive Aged AP - Detail
Period: 12-15 As of: 4/30/2015
Page:
Report:
Company:
1 of 3
03681d.rpt
02
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days Past Due 31 |
||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | |
| Company: | 20 | ||||||||||||||
| ALEX00 | Alexander Dubose Jefferson & T | A | |||||||||||||
| 233293 | 6287 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 317.17 | 0.00 | 0.00 | 317.17 | ||||
| 233294 | 6288 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 12,100.00 | 0.00 | 0.00 | 12,100.00 | ||||
| 233295 | 6288 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 7,080.00 | 0.00 | 0.00 | 7,080.00 | ||||
| 234017 | 6291 | VO | A | 4/22/2015 | 4/22/2015 | 0.00 | 13,140.00 | 0.00 | 0.00 | 0.00 | 13,140.00 | ||||
| 234028 | Rev6288 | AD | A | 4/24/2015 | 0.00 | -12,100.00 | 0.00 | 0.00 | 0.00 | -12,100.00 | |||||
| 234029 | Rev6288 | AD | A | 4/24/2015 | 0.00 | -7,080.00 | 0.00 | 0.00 | 0.00 | -7,080.00 | |||||
| 234030 | 6291 | VO | A | 4/24/2015 | 4/24/2015 | 0.00 | 7,080.00 | 0.00 | 0.00 | 0.00 | 7,080.00 | ||||
| Vendor Total | 0.00 | 1,040.00 | 19,497.17 | 0.00 | 0.00 | 20,537.17 | |||||||||
| BERM00 | Law Offices of Douglas M. Berm | A | |||||||||||||
| 232202 | LP01-21-2015 | VO | A | 3/1/2015 | 3/1/2015 | 0.00 | 0.00 | 4,712.50 | 0.00 | 0.00 | 4,712.50 | ||||
| 233297 | LP-02-2015 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 11,293.75 | 0.00 | 0.00 | 11,293.75 | ||||
| Vendor Total | 0.00 | 0.00 | 16,006.25 | 0.00 | 0.00 | 16,006.25 | |||||||||
| BUCH00 | Kevin Buchanan & Associates, P | A | |||||||||||||
| 232832 | 1355 | VO | A | 1/31/2015 | 1/31/2015 | 0.00 | 0.00 | 0.00 | 26,947.75 | 0.00 | 26,947.75 | ||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 26,947.75 | 0.00 | 26,947.75 | |||||||||
| CARR06 | Carrington, Coleman, Sloman & | A | |||||||||||||
| 232849 | 317854 | VO | A | 2/13/2015 | 2/13/2015 | 0.00 | 0.00 | 0.00 | 541.00 | 0.00 | 541.00 | ||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 541.00 | 0.00 | 541.00 | |||||||||
| FIRS08 | First Advantage Litigation Con | A | |||||||||||||
| 233304 | 14602 | VO | A | 3/30/2015 | 3/30/2015 | 3/30/2015 | 0.00 | 0.00 | 11,535.00 | 0.00 | 0.00 | 11,535.00 | |||
| Vendor Total | 0.00 | 0.00 | 11,535.00 | 0.00 | 0.00 | 11,535.00 | |||||||||
| FORS00 | Forshey & Prostok, LLP - IOLTA | A | |||||||||||||
| 233290 | 28681-Jan15 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 78,075.53 | 0.00 | 0.00 | 78,075.53 | ||||
| 233291 | 28681-Feb15 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 59,822.90 | 0.00 | 0.00 | 59,822.90 | ||||
| Vendor Total | 0.00 | 0.00 | 137,898.43 | 0.00 | 0.00 | 137,898.43 | |||||||||
| HORW00 | Horwood, Marcus & Berk | A | |||||||||||||
| 233305 | 385452 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 105.00 | 0.00 | 0.00 | 105.00 | ||||
Date:
Time: User:
Thursday, April 30, 2015
04:14PM PTOY
DIP - LPHI
Period Sensitive Aged AP - Detail
Period: 12-15 As of: 4/30/2015
Page:
Report:
Company:
2 of 3
03681d.rpt
02
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days Past Due 31 |
|||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | ||
| Vendor Total | 0.00 | 0.00 | 105.00 | 0.00 | 0.00 | 105.00 | ||||||||||
| HSPG00 | HSPG & Associates, PC | |||||||||||||||
| 232726 | 15-007 | VO | A | 2/7/2015 | 2/7/2015 | 2/7/2015 | 0.00 | 0.00 | 0.00 | 3,786.75 | 0.00 | 3,786.75 | ||||
| 233113 | 15-024 | VO | A | 3/6/2015 | 3/6/2015 | 3/6/2015 | 0.00 | 0.00 | 18,699.57 | 0.00 | 0.00 | 18,699.57 | ||||
| 233114 | 15-007 | AD | A | 2/7/2015 | 2/7/2015 | 0.00 | 0.00 | 0.00 | -3,786.75 | 0.00 | -3,786.75 | |||||
| Vendor Total | 0.00 | 0.00 | 18,699.57 | 0.00 | 0.00 | 18,699.57 | ||||||||||
| HUDS00 | Hudson & Calleja, LLC | A | ||||||||||||||
| 233306 | 5537 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 1,685.00 | 0.00 | 0.00 | 1,685.00 | |||||
| 233307 | 5537 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 290.00 | 0.00 | 0.00 | 290.00 | |||||
| Vendor Total | 0.00 | 0.00 | 1,975.00 | 0.00 | 0.00 | 1,975.00 | ||||||||||
| JOHN14 | The Johnson Law Firm | A | ||||||||||||||
| 233300 | 2 | VO | A | 3/4/2015 | 3/4/2015 | 0.00 | 0.00 | 5,995.00 | 0.00 | 0.00 | 5,995.00 | |||||
| 233303 | 3 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 886.90 | 0.00 | 0.00 | 886.90 | |||||
| Vendor Total | 0.00 | 0.00 | 6,881.90 | 0.00 | 0.00 | 6,881.90 | ||||||||||
| KYLE00 | Kyle Mathis & Lucas LLP | A | ||||||||||||||
| 233296 | 14104 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 492.66 | 0.00 | 0.00 | 492.66 | |||||
| 233299 | 14084 | VO | A | 3/4/2015 | 3/4/2015 | 0.00 | 0.00 | 875.31 | 0.00 | 0.00 | 875.31 | |||||
| Vendor Total | 0.00 | 0.00 | 1,367.97 | 0.00 | 0.00 | 1,367.97 | ||||||||||
| MACK00 | C. Alfred Mackenzie | A | ||||||||||||||
| 233115 | LPHI Le galMa | VO | A | 3/9/2015 | 3/9/2015 | 3/9/2015 | 0.00 | 0.00 | 3,802.50 | 0.00 | 0.00 | 3,802.50 | ||||
| Vendor Total | 0.00 | 0.00 | 3,802.50 | 0.00 | 0.00 | 3,802.50 | ||||||||||
| MEAD01 | Meadows Collier Attorneys at L | |||||||||||||||
| 233120 | 128856 | VO | A | 3/19/2015 | 3/19/2015 | 0.00 | 0.00 | 10,101.19 | 0.00 | 0.00 | 10,101.19 | |||||
| Vendor Total | 0.00 | 0.00 | 10,101.19 | 0.00 | 0.00 | 10,101.19 | ||||||||||
| MEYE00 | Meyer, Unkovic & Scott LLP | |||||||||||||||
| 231927 | 1223264 | VO | A | 3/7/2015 | 3/7/2015 | 3/7/2015 | 0.00 | 0.00 | 257.50 | 0.00 | 0.00 | 257.50 | ||||
| 233298 | 1224475 | VO | A | 4/16/2015 | 4/16/2015 | 4/16/2015 | 0.00 | 2,433.64 | 0.00 | 0.00 | 0.00 | 2,433.64 | ||||
| Vendor Total | 0.00 | 2433.64 | 257.50 | 0.00 | 0.00 | 2,691.14 | ||||||||||
| SHAC00 | Shackelford, Melton & McKinley | A | ||||||||||||||
Date:
Time: User:
Thursday, April 30, 2015
04:14PM PTOY
DIP - LPHI
Period Sensitive Aged AP - Detail
Period: 12-15 As of: 4/30/2015
Page:
Report:
Company:
3 of 3
03681d.rpt
02
| Vendor | Master | Doc | Vendor/ | Disc | Due | Pay | Days Past Due 31 |
|||||||||
| Ref Nbr | Inv Nbr | Name | DocType/RefNbr | Type | Doc Stat | Date | Date | Date | Current | 1 To 30 | To 60 | 61 To 90 | Over 90 | Balance | ||
| 233118 | 174733 | VO | A | 4/09/2015 | 4/09/2015 | 4/09/2015 | 0.00 | 60.00 | 0.00 | 0.00 | 0.00 | 60.00 | ||||
| Vendor Total | 0.00 | 60.00 | 0.00 | 0.00 | 0.00 | 60.00 | ||||||||||
| SHAR03 | Shareholder.com | A | ||||||||||||||
| 232029 | 0115SHAR1619 | VO | A | 2/27/2015 | 2/27/2015 | 0.00 | 0.00 | 0.00 | 4,388.33 | 0.00 | 4,388.33 | |||||
| 234077 | 0115shar1619 | AD | A | 2/27/2015 | 0.00 | 0.00 | 0.00 | -4,388.33 | 0.00 | -4,388.33 | ||||||
| Vendor Total | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||
| SQUI01 | Squire Patton Boggs (US) LLP | A | ||||||||||||||
| 233301 | 10426961 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 2,912.22 | 0.00 | 0.00 | 2,912.22 | |||||
| 233302 | 10426961 | VO | A | 3/23/2015 | 3/23/2015 | 0.00 | 0.00 | 2,024.00 | 0.00 | 0.00 | 2,024.00 | |||||
| Vendor Total | 0.00 | 0.00 | 4,936.22 | 0.00 | 0.00 | 4,936.22 | ||||||||||
| WEST12 | West & Associates, L.L.P | A | ||||||||||||||
| 232850 | 15249 | VO | A | 2/17/2015 | 2/17/2015 | 0.00 | 0.00 | 0.00 | 6,927.50 | 0.00 | 6,927.50 | |||||
| 232851 | 15249-ApplyR | AD | A | 2/17/2015 | 0.00 | 0.00 | 0.00 | -4,750.77 | 0.00 | -4,750.77 | ||||||
| 233310 | 15301 | VO | A | 3/24/2015 | 3/24/2015 | 0.00 | 0.00 | 3,237.50 | 0.00 | 0.00 | 3,237.50 | |||||
| 234078 | 15249RevRet | VO | A | 2/17/2015 | 2/17/2015 | 0.00 | 0.00 | 0.00 | 4,750.77 | 0.00 | 4,750.77 | |||||
| Vendor Total | 0.00 | 0.00 | 3,237.50 | 6,927.50 | 0.00 | 10,165.00 | ||||||||||
| WHIT03 | Whitley Penn | A | ||||||||||||||
| 232727 | 226512 | VO | A | 2/9/2015 | 2/9/2015 | 2/9/2015 | 0.00 | 0.00 | 0.00 | 1,007.00 | 0.00 | 1,007.00 | ||||
| 232728 | 227700 | VO | A | 2/18/2015 | 2/18/2015 | 2/18/2015 | 0.00 | 0.00 | 0.00 | 2,442.13 | 0.00 | 2,442.13 | ||||
| 233119 | 228161 | VO | A | 3/9/2015 | 3/9/2015 | 3/9/2015 | 0.00 | 0.00 | 50,888.00 | 0.00 | 0.00 | 50,888.00 | ||||
| 233121 | 228588 | VO | A | 3/16/2015 | 3/16/2015 | 3/16/2015 | 0.00 | 0.00 | 1,900.00 | 0.00 | 0.00 | 1,900.00 | ||||
| Vendor Total | 0.00 | 0.00 | 52,788.00 | 3,449.13 | 0.00 | 56,237.13 | ||||||||||
| Company Total | 0.00 | 3,533.64 | 289,089.20 | 37,865.38 | 0.00 | 330,488.22 | ||||||||||