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) March 21, 2016 (March 18, 2016)

 

AXION INTERNATIONAL HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

 

Colorado

(State or other jurisdiction

of incorporation)

  

0-13111

(Commission File Number)

  

84-0846389

(IRS Employer

Identification No.)

 

4005 All American Way, Zanesville, Ohio

(Address of principal executive offices)

  

43701

(Zip Code)

 

Registrant’s telephone number, including area code: (740) 452-2500

 

Not Applicable

(Former name or former address, if changed since last report)

 

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):

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨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 8.01Other Events

 

On December 8, 2015, Axion International Holdings, Inc. (the “Company”) filed an 8-K with the U.S. Securities and Exchange Commission to disclose its Chapter 11 bankruptcy filing in Delaware on December 2, 2015 (the “Bankruptcy Filing”). On January 15, 2016, the Company filed an 8-K with the U.S. Securities and Exchange Commission to disclose as a result of the Bankruptcy Filing, the Company would no longer file periodic reports under the Securities Exchange Act of 1934 and its shares will no longer be eligible for legend removal under Rule 144 for failure to continue to meet the current reporting requirement under Rule 144.

 

Pursuant to the rules and requirements under its Bankruptcy Filing, the Company files monthly financial reports with the U.S. Trustees with the U.S. Bankruptcy Court District of Delaware (the “Monthly Operating Reports”). The Monthly Operating Reports for February 2016 were prepared and filed for (i) the Company, (ii) its wholly-owned operating subsidiary Axion International, Inc. and (iii) its dormant wholly-owned subsidiary Axion Recycled Plastics Incorporated on March 18, 2016. Copies of these Monthly Operating Reports are included herewith as Exhibits to this Form 8-K.

 

 

 

 

Item 9.01Exhibits

 

(d) Exhibits

 

Exhibit    
Number   Description of Exhibit
     
99.1   Monthly Operating Report – Axion International Holdings, Inc.
99.2   Monthly Operating Report – Axion International, Inc.
99.3   Monthly Operating Report – Axion Recycled Plastics Incorporated

  

 

 

  

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: March 21, 2016

 AXION INTERNATIONAL HOLDINGS, INC.
     
  By:  /s/ Donald W. Fallon
   

Donald W. Fallon

Chief Financial Officer

 

 



 

EXHIBIT 99.1

 

UNITED STATES BANKRUPTCY COURT

DISTRICT OF DELAWARE

 

In re: Axion International Holdings, Inc. Case No.: 15—12416
  Reporting Period: February 2016

 

MONTHLY OPERATING REPORT (NO ACTIVITY DURING THE REPORTING PERIOD)

File with Court and submit copy to United States Trustee within 20 days after end of month

 

Submit copy of report to any official committee appointed in the case.

 

        Document   Explanation   Affidavit/Supplement
REQUIRED DOCUMENTS   Form No.   Attached   Attached   Attached
Schedule of Cash Receipts and Disbursements   MOR-1   Y        
Bank Reconciliation (or copies of debtor's bank reconciliations)   MOR-1a   Y        
Schedule of Professional Fees Paid   MOR-1b   Y        
Copies of bank statements       n/a        
Cash disbursements journals       n/a        
Statement of Operations   MOR-2   Y        
Balance Sheet   MOR-3   Y        
Status of Postpetition Taxes   MOR-4   Y        
Copies of IRS Form 6123 or payment receipt       N        
Copies of tax returns filed during reporting period       N        
Summary of Unpaid Postpetition Debts   MOR-4   Y        
Listing of aged accounts payable   MOR-4   Y        
Accounts Receivable Reconciliation and Aging   MOR-5   Y        
Debtor Questionnaire   MOR-5   Y        

 

I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.

 

/s/ Donald W. Fallon   March 18, 2016  
Signature of Debtor   Date  
       
/s/ Donald W. Fallon   March 18, 2016  
Signature of Joint Debtor   Date  
       
/s/ Donald W. Fallon   March 18, 2016  
Signature of Authorized Individual*   Date  
       
'Donald W. Fallon   CFO & Treasurer  
Printed Name of Authorized Individual   Title of Authorized Individual  

 

*Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.

 

MOR

(04/07)

 

 

 

 

In re: Axion International Holdings, Inc. Case No.: 15-12416
Debtor Reporting Period: February 2016

 

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

 

Amounts reported should be per the debtor's books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the "CURRENT MONTH - ACTUAL" column must equal the sum of the four bank account columns. The amounts reported in the "PROJECTED" columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1) . Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each account. [See MOR-1 (CON'T)]

 

   BANK ACCOUNTS   CURRENT MONTH   CUMULATIVE FILING TO DATE 
   OPER.   PAYROLL   TAX   OTHER   ACTUAL   PROJECTED   ACTUAL   PROJECTED 
CASH BEGINNING OF MONTH  $-   $-   $-   $-   $-   $-   $-   $- 
                                         
RECEIPTS                                        
CASH SALES                                        
ACCOUNTS RECEIVABLE                                        
LOANS AND ADVANCES                                        
SALE OF ASSETS                                        
OTHER (ATTACH LIST)                                        
TRANSFERS (FROM DIP ACCTS)                                        
                                         
TOTAL RECEIPTS                                        
                                         
DISBURSEMENTS                                        
NET PAYROLL                                        
PAYROLL TAXES                                        
SALES, USE, & OTHER TAXES                                        
INVENTORY PURCHASES                                        
SECURED/ RENTAL/ LEASES        NO ACTIVITY      
INSURANCE                                        
ADMINISTRATIVE                                        
SELLING                                        
OTHER (ATTACH LIST)                                        
                                         
OWNER DRAW *                                        
TRANSFERS (TO DIP ACCTS)                                        
                                         
PROFESSIONAL FEES                                        
U.S. TRUSTEE QUARTERLY FEES                                        
COURT COSTS                                        
TOTAL DISBURSEMENTS                                        
                                         
NET CASH FLOW                                        
(RECEIPTS LESS DISBURSEMENTS)                                        
                                         
CASH - END OF MONTH  $-   $-   $-   $-   $-   $-   $-   $- 

 

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

 

THE FOLLOWING SECTION MUST BE COMPLETED

 

DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN)     
TOTAL DISBURSEMENTS  $- 
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS  $ 
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts)  $ 
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES  $- 

 

FORM MOR-1

(04/07)

 

 

 

 

In re: Axion International Holdings, Inc. Case No.: 15-12416
Debtor Reporting Period: February 2016

 

BANK RECONCILIATIONS

Continuation Sheet for MOR-1

A bank reconciliation must be included for each bank account. The debtor's bank reconciliation may be substituted for this page.

 

    Operating   Payroll   Tax   Other
    #       #       #       #    
BALANCE PER BOOKS                                
                                 
BANK BALANCE                                
(+) DEPOSITS IN TRANSIT (ATTACH LIST)                                
(-) OUTSTANDING CHECKS (ATTACH LIST)                                
OTHER (ATTACH EXPLANATION)                                
ADJUSTED BANK BALANCE *                                
* Adjusted bank balance must equal balance per books                                
                                 
DEPOSITS IN TRANSIT   Date   Amount   Date   Amount   Date   Amount   Date   Amount
                                 
                                 
                                 
                                 
                                 
                                 
                                 
CHECKS OUTSTANDING   Ck. #   Amount   Ch. #   Amount   Ck. #   Amount   Ck. #   Amount
                                 
                                 
                                 
                                 
                                 
                                 
                                 
            NO ACTIVITY        
                                 
                                 
                                 
                                 
                                 
                                 
                                 
                                 
                                 
OTHER                                
                                 
                                 
                                 
                                 
                                 
                                 

 

FORM MOR-1a

(04/07)

 

 

 

 

In re: Axion International Holdings, Inc. Case No.: 15-12416
Debtor Reporting Period: February 2016

 

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

This schedule is to include all retained professional payments from case inception to current month

 

        Amount       Check   Amount Paid   Year-To-Date
Payee   Period Covered   Approved   Payor   Number   Date   Fees   Expenses   Fees   Expenses
                                     
                                     
                                     
                                     
                                     
                                     
                                     
    NO ACTIVITY    
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     

 

FORM MOR-1b

(04/07)

 

 

 

 

In re: Axion International Holdings, Inc. Case No.: 15-12416
Debtor Reporting Period: February 2016

 

STATEMENT OF OPERATIONS

(Income Statement)

 

The Statement of Operations is to be prepared on an accrual basis. The accrual basis of accounting recognizes revenue when it is realized and expenses when they are incurred, regardless of when cash is actually received or paid.

 

       Cumulative 
REVENUES  Month   Filing to Date 
Gross Revenues  $  -   $    - 
Less: Returns and Allowances          
Net Revenue  $   $ 
COST OF GOODS SOLD          
Beginning Inventory          
Add: Purchases          
Add: Cost of Labor          
Add: Other Costs (attach schedule)          
Less: Ending Inventory          
Cost of Goods Sold          
Gross Profit          
OPERATING EXPENSES          
Advertising          
Auto and Truck Expense          
Bad Debts          
Contributions          
Employee Benefits Programs          
Insider Compensation*          
Insurance          
Management Fees/Bonuses          
Office Expense   NO ACTIVITY 
Pension & Profit-Sharing Plans          
Repairs and Maintenance          
Rent and Lease Expense          
Salaries/Commissions/Fees          
Supplies          
Taxes - Payroll          
Taxes - Real Estate          
Taxes - Other          
Travel and Entertainment          
Utilities          
Other (attach schedule)          
Total Operating Expenses Before Depreciation          
Depreciation/Depletion/Amortization          
Net Profit (Loss) Before Other Income & Expenses          
OTHER INCOME AND EXPENSES          
Other Income (attach schedule)          
Interest Expense          
Other Expense (attach schedule)          
Net Profit (Loss) Before Reorganization Items          
REORGANIZATION ITEMS          
Professional Fees          
U. S. Trustee Quarterly Fees          
Interest Earned on Accumulated Cash from Chapter 11 (see continuation sheet)          
Gain (Loss) from Sale of Equipment          
Other Reorganization Expenses (attach schedule)          
Total Reorganization Expenses          
Income Taxes          
Net Profit (Loss)  $-   $- 

 

*"Insider" is defined in 11 U.S.C. Section 101(31).

 

FORM MOR-2

(04/07)

 

 

 

 

In re: Axion International Holdings, Inc. Case No.: 15-12416
Debtor Reporting Period: February 2016

 

STATEMENT OF OPERATIONS - continuation sheet

 

        Cumulative
BREAKDOWN OF "OTHER" CATEGORY   Month   Filing to Date
         
Other Costs        
         
         
         
         
         
Other Operational Expenses        
         
         
NO ACTIVITY    
         
         
Other Income        
         
         
         
         
         
Other Expenses        
         
         
         
         
         
Other Reorganization Expenses        
         
         
         
         
         
         

 

Reorganization Items - Interest Earned on Accumulated Cash from Chapter 11:

Interest earned on cash accumulated during the chapter 11 case, which would not have been earned but for the bankruptcy proceeding, should be reported as a reorganization item.

 

FORM MOR-2 CONT'D

(04/07)

 

 

 

 

In re: Axion International Holdings, Inc. Case No.: 15-12416
Debtor Reporting Period: February 2016

 

BALANCE SHEET

  

The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be classified separately from postpetition obligations.

 

   BOOK VALUE AT END OF   BOOK VALUE ON 
ASSETS  CURRENT REPORTING MONTH   PETITION DATE 
CURRENT ASSETS          
Unrestricted Cash and Equivalents  $     -   $      - 
Restricted Cash and Cash Equivalents (see continuation sheet)          
Accounts Receivable (Net)          
Notes Receivable          
Inventories   NO ACTIVITY      
Prepaid Expenses          
Professional Retainers          
Other Current Assets (attach schedule)          
TOTAL CURRENT ASSETS  $   $ 
PROPERTY AND EQUIPMENT          
Real Property and Improvements          
Machinery and Equipment          
Furniture, Fixtures and Office Equipment          
Leasehold Improvements          
Vehicles          
Less Accumulated Depreciation          
TOTAL PROPERTY & EQUIPMENT  $   $ 
OTHER ASSETS          
Loans to Insiders*          
Other Assets (attach schedule)          
TOTAL OTHER ASSETS  $   $ 
           
TOTAL ASSETS  $   $ 

 

   BOOK VALUE AT END OF   BOOK VALUE ON 
LIABILITIES AND OWNER EQUITY  CURRENT REPORTING MONTH   PETITION DATE 
LIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition)          
Accounts Payable          
Taxes Payable (refer to FORM MOR-4)          
Wages Payable          
Notes Payable          
Rent / Leases - Building/Equipment          
Secured Debt / Adequate Protection Payments          
Professional Fees          
Amounts Due to Insiders*          
Other Postpetition Liabilities (attach schedule)          
TOTAL POSTPETITION LIABILITIES  $    $  
LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)          
Secured Debt          
Priority Debt          
Unsecured Debt          
TOTAL PRE-PETITION LIABILITIES  $    $  
           
TOTAL LIABILITIES  $    $  
OWNER EQUITY          
Capital Stock          
Additional Paid-In Capital          
Partners' Capital Account          
Owner's Equity Account          
Retained Earnings - Pre-Petition          
Retained Earnings - Postpetition          
Adjustments to Owner Equity (attach schedule)          
Postpetition Contributions (Distributions) (Draws) (attach schedule)          
NET OWNER EQUITY  $    $  
           
TOTAL LIABILITIES AND OWNERS' EQUITY  $    $  

 

*"Insider" is defined in 11 U.S.C. Section 101(31).

 

FORM MOR-3

(04/07)

 

 

 

In re: Axion International Holdings, Inc. Case No.: 15-12416
Debtor Reporting Period: February 2016

 

BALANCE SHEET - continuation sheet

 

ASSETS   BOOK VALUE AT END OF
CURRENT REPORTING MONTH		   BOOK VALUE ON
PETITION DATE
Other Current Assets        
         
         
         
NO ACTIVITY        
         
         
Other Assets        
         
         
         
         
         
         

 

    BOOK VALUE AT END OF   BOOK VALUE ON
LIABILITIES AND OWNER EQUITY   CURRENT REPORTING MONTH   PETITION DATE
Other Postpetition Liabilities        
         
         
         
         
         
         
Adjustments to Owner Equity        
         
         
         
         
         
         
Postpetition Contributions (Distributions) (Draws)        
         
         
         
         
         
         
         

 

Restricted Cash is cash that is restricted for a specific use and not available to fund operations. Typically, restricted cash is segregated into a separate account, such as an escrow account.

 

FORM MOR-3 CONT'D

(04/07)

 

 

 

 

In re: Axion International Holdings, Inc. Case No.: 15-12416
Debtor Reporting Period: February 2016

 

STATUS OF POSTPETITION TAXES

 

The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero.

 

Attach photocopies of IRS Form 6123 or payment receipt to verify payment or deposit of federal payroll taxes.

 

Attach photocopies of any tax returns filed during the reporting period.

 

    Beginning   Amount               Ending
    Tax   Withheld or   Amount   Date   Check No.   Tax
    Liability   Accrued   Paid   Paid   or EFT   Liability
Federal                        
Withholding                        
FICA-Employee                        
FICA-Employer                        
Unemployment                        
Income           NO ACTIVITY            
Other:_________________                        
Total Federal Taxes                        
State and Local                        
Withholding                        
Sales                        
Excise                        
Unemployment                        
Real Property                        
Personal Property                        
Other:_________________                        
Total State and Local                        
Total Taxes                        

 

SUMMARY OF UNPAID POSTPETITION DEBTS

 

Attach aged listing of accounts payable.

 

       Number of Days Past Due     
   Current   0-30   31-60   61-90   Over 90   Total 
Accounts Payable                                                   $- 
Wages Payable                           $- 
Taxes Payable                           $- 
Rent/Leases-Building                           $- 
Rent/Leases-Equipment                           $- 
Secured Debt/Adequate Protection Payments                           $- 
Professional Fees                           $- 
Amounts Due to Insiders*                           $- 
Other:__________________________                           $- 
Other:__________________________                           $- 
Total Postpetition Debts                           $- 

 

Explain how and when the Debtor intends to pay any past-due postpetition debts.

 

*"Insider" is defined in 11 U.S.C. Section 101(31).

 

FORM MOR-4

(04/07)

 

 

 

 

In re: Axion International Holdings, Inc. Case No.: 15-12416
Debtor Reporting Period: February 2016

 

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

 

Accounts Receivable Reconciliation     Amount 
Total Accounts Receivable at the beginning of the reporting period          $-          
+ Amounts billed during the period       $-      
- Amounts collected during the period   NO ACTIVITY      
Total Accounts Receivable at the end of the reporting period       $-      

 

Accounts Receivable Aging      Amount 
0 - 30 days old           $-           
31 - 60 days old       $-      
61 - 90 days old       $-      
91+ days old       $-      
Total Accounts Receivable       $-      
Amount considered uncollectible (Bad Debt)       $-      
Accounts Receivable (Net)       $-      

 

DEBTOR QUESTIONNAIRE

 

Must be completed each month   Yes   No
1. Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below.       No
2. Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below.       No
3. Have all postpetition tax returns been timely filed? If no, provide an explanation below.   Yes    
4. Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below.   Yes (a)    
5. Has any bank account been opened during the reporting period? If yes, provide documentation identifying the opened account(s). If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.       No

 

(a) - no employees employed under this debtor, but all employees for related debtor have all coverages in place.

 

FORM MOR-5

(04/07)

 

 



 

EXHIBIT 99.2

 

UNITED STATES BANKRUPTCY COURT

DISTRICT OF DELAWARE

 

In re: Axion International, Inc. Case No.: 15-12415
  Reporting Period: February 2016

 

MONTHLY OPERATING REPORT

File with Court and submit copy to United States Trustee within 20 days after end of month

 

Submit copy of report to any official committee appointed in the case.

 

        Document   Explanation   Affidavit/Supplement
REQUIRED DOCUMENTS   Form No.   Attached   Attached   Attached
Schedule of Cash Receipts and Disbursements   MOR-1   Y       Y
Bank Reconciliation (or copies of debtor's bank reconciliations)   MOR-1a   Y        
Schedule of Professional Fees Paid   MOR-1b   Y        
Copies of bank statements       Y        
Cash disbursements journals       Y        
Statement of Operations   MOR-2   Y       Y
Balance Sheet   MOR-3   Y       Y
Status of Postpetition Taxes   MOR-4   Y        
Copies of IRS Form 6123 or payment receipt       N        
Copies of tax returns filed during reporting period       N        
Summary of Unpaid Postpetition Debts   MOR-4   Y        
Listing of aged accounts payable   MOR-4   Y        
Accounts Receivable Reconciliation and Aging   MOR-5   Y        
Debtor Questionnaire   MOR-5   Y        

 

I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.

 

/s/ Donald W. Fallon   March 18, 2016
Signature of Debtor   Date
     
/s/ Donald W. Fallon   March 18, 2016
Signature of Joint Debtor   Date
     
/s/ Donald W. Fallon   March 18, 2016
Signature of Authorized Individual*   Date
     
Donald W. Fallon   CFO & Treasurer
Printed Name of Authorized Individual   Title of Authorized Individual

 

*Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.

 

MOR

(04/07)

 

 

 

 

In re Axion International, Inc. Case No. 15-12415 (15-12416 & 15-12417)
Debtor Reporting Period: February 2016

 

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

 

Amounts reported should be per the debtor's books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the "CURRENT MONTH - ACTUAL" column must equal the sum of the four bank account columns. The amounts reported in the "PROJECTED" columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1) . Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each account. [See MOR-1 (CON'T)]

 

   BANK ACCOUNTS   CURRENT MONTH   CUMULATIVE FILING TO DATE 
   OPER.   PAYROLL      Utility Dep   ACTUAL   PROJECTED   ACTUAL   PROJECTED 
CASH BEGINNING OF MONTH  $614,929   $4,342       $9,499   $628,770   $621,391   $36,452   $188,571 
                                         
RECEIPTS                                        
CASH SALES                      $-                
ACCOUNTS RECEIVABLE  $730,888                  $730,888   $730,888   $3,184,052   $3,225,637 
LOANS AND ADVANCES                      $-   $175,000   $650,000   $675,000 
SALE OF ASSETS                      $-        $47,500      
OTHER (ATTACH LIST)                      $-        $(5,727)     
TRANSFERS (FROM DIP ACCTS)       $345,000             $345,000        $478,999      
MISCELLANEOUS                      $-        $8      
TOTAL RECEIPTS  $730,888   $345,000   $-   $-   $1,075,888   $905,888   $4,354,831   $3,900,637 
                                         
DISBURSEMENTS                                        
NET PAYROLL       $250,224             $250,224   $349,105   $786,578   $1,092,213 
PAYROLL TAXES       $98,904             $98,904        $305,502      
EMPLOYEE BENEFITS  $34,661   $(23)            $34,638   $34,880   $130,111   $130,196 
SALES, USE, & OTHER TAXES                      $-        $-      
INVENTORY PURCHASES  $610,946                  $610,946   $624,566   $1,434,748   $1,448,367 
SECURED/ RENTAL/ LEASES  $50,525                  $50,525   $50,525   $149,946   $149,946 
INSURANCE  $8,936                  $8,936   $8,936   $166,411   $166,411 
ADMINISTRATIVE  $6,144   $25             $6,169   $8,672   $25,792   $28,793 
SELLING                      $-        $-      
OTHER (ATTACH LIST)  $237,576                  $237,576   $292,124   $684,781   $782,661 
                       $-        $-      
OWNER DRAW *                      $-        $-      
TRANSFERS (TO DIP ACCTS)  $345,000                  $345,000        $478,999      
                       $-        $-      
PROFESSIONAL FEES  $50,000                  $50,000        $209,525   $125,000 
U.S. TRUSTEE QUARTERLY FEES                      $-        $7,150   $7,150 
COURT COSTS                      $-        $-      
TOTAL DISBURSEMENTS  $1,343,788   $349,130   $-   $-   $1,692,918   $1,368,808   $4,379,543   $3,930,737 
                                         
NET CASH FLOW  $(612,900)  $(4,130)  $-   $-   $(617,030)  $(462,920)  $(24,712)  $(30,100)
(RECEIPTS LESS DISBURSEMENTS)                                        
                                         
CASH - END OF MONTH  $2,029   $212   $-   $9,499   $11,740   $158,471   $11,740   $158,471 

 

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

 

THE FOLLOWING SECTION MUST BE COMPLETED

 

DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN)    
TOTAL DISBURSEMENTS  $1,692,918 
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS  $(345,000)
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts)  $  
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES  $1,347,918 

 

FORM MOR-1

(04/07)

 

 

 

 

In re Axion International, Inc. Case No. 15-12415 (15-12416 & 15-12417)
Debtor Reporting Period: February 2016

 

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

 

ATTACHED LISTS TO MOR-1

 

CASH BEGINNING OF MONTH - 11/30/15 vs 12/2/15
   OPER   PAYROLL   Combined 
Balance at 11/30/15 per Bank Reconciliation   133,852    569      
12/1/2015 transactions (prepetition)   (97,969)          
Cash December 2, 2015, per this Schedule   35,883    569    36,452 

 

Other Receipts List:  Month   Cumu 
AR Terms Discounts  $-   $      (5,727)

 

Other Disbursements List:
   Actual   Projection 
Description  Month   Cumu   Month   Cumu 
Utility Deposits  $-   $26,453   $-   $35,951 
Freight   82,135    205,929    82,135    203,981 
Operating Expenses - Texas Facility   68,193    153,300    71,647    158,703 
Operating Expenses - Ohio Facility   32,141    52,158    39,650    59,667 
Emergency Repairs - Texas facility   1,677    45,508    1,677    45,508 
Restart Extruder #1 - Texas Facility   -    5,199    25,000    30,199 
Legal - commercial/corporate counsel   -    498    -    - 
Claims Agent   18,632    18,632    18,632    53,156 
Audit & Tax Professional   -    -    -    - 
Interest - State of Ohio laon   -    -    -    - 
Interest - DiP Loan   -    -    -    - 
S/U tax remittence   -    195         - 
Rutgers Royalty Payment   -    75,922         75,922 
Real & Personal Property Taxe   34,798    100,987    34,798    100,988 
Budget Variance @ 10%   -    -    18,586    18,586 
TOTAL  $  237,576   $  684,781   $  292,125   $  782,661 

 

PAYROLLS
Description  Actual   Cash Accts   Projected 
   2/12/16   2/26/16   Total   Operating   Payroll   Month   Cumu 
                             
Payroll  $125,920   $107,751   $233,670        233,670         
Fee   1,721    1,202    2,923         2,923           
401(k)   2,732    2,895    5,627         5,627           
Garnishments   4,137    3,867    8,003         8,003           
Taxes   54,254    44,650    98,904         98,904           
AFLAC             -                     
Health        27,425    27,425    27,425                
Dental        1,933    1,933    1,933                
Life        252    252    252                
HSA Reimb   (23)        (23)        (23)          
TX workers comp        5,051    5,051    5,051                
OH workers comp             -                     
TOTAL  $188,741   $195,025   $383,766   $34,661   $349,105           
                        -           
Net Payroll  $134,510   $115,714   $250,224        $250,224   $349,105   $1,092,213 
Payroll Taxes   54,254    44,650    98,904         98,904    -      
Employee Benefits   (23)   34,661    34,638    34,661    (23)   34,880    130,196 
TOTAL  $188,741   $195,025   $383,766   $34,661   $  349,105   $383,985   $  1,222,409 

 

FORM MOR-1

(04/07)

 

 

 

 

In re Axion International, Inc. Case No. 15-12415 (15-12416 & 15-12417)
Debtor Reporting Period: February 2016

 

Month: February 29, 2016     GL Account #   CZ1060

 

General Ledger Reconciliation  Per the Bank
                
Balance per GL- Begin of Period      $614,209.27   Ending Balance per Bank Statement  $259,067.42 
                   
Plus:        888,882.04   Plus: Outstanding Deposits     
Deposits   888,815.89              
AJE for incorrect recording of                  
reimbursement for emp expenses   66.15    0229PNCOA AJE         
                   
Less:        (1,350,253.72)  Less: Outstanding Disbursements   (106,229.83)
Disbursements   1,004,905.22              
Bank Charges   348.50    0229PNCOA        
Transfer to Other Acct - AXI PNC PR   345,000.00    0229PNCPA        
                   
Balance per GL - End of Period       $152,837.59   Reconciled Balance per the Bank  $152,837.59 
             Difference    (0.00)

 

Outstanding Disbursements:
AP CK#     AP Amount 
11488  LOOP 340 OVERHEAD DOOR   20,322.98 
11542  U.S. PRODUCTS CO, INC.   4,044.90 
11570  ANTHEM BCBS OH GROUP   27,425.09 
11571  ANTHEM DENTAL   1,933.22 
11572  ANTHEM LIFE   252.00 
11573  CHEM-AQUA, INC.   583.00 
11574  CINTAS CORPORATION   130.65 
11575  CITY OF WACO WATER OFFICE   1,544.13 
11576  COASTAL COMPOUNDED RESINS   9,036.80 
11577  COMDOC   206.36 
11578  DIRECT ENERGY BUSINESS   30,794.23 
11579  GILBERT + TOBIN   197.93 
11580  KOORSEN FIRE & SECURITY   225.19 
11581  LIFT LEASE & FINANCE CORP   6,608.74 
11582  RING CENTRAL   1,092.27 
11583  AMERIGAS   328.47 
EWDEBIT 022916-1  TUBES N HOSES OF WACO   118.73 
EWDEBIT 022916-2  CRAWFORD ELECTRIC SUPPLY   601.73 
EWDEBIT 022916-3  PRO HEAT INC.   342.55 
EWDEBIT 022916-4  RICHARDS SUPPLY COMPANY   440.86 
       106,229.83 

 

 

 

 

In re Axion International, Inc. Case No. 15-12415 (15-12416 & 15-12417)
Debtor Reporting Period: February 2016

 

Month: February 28, 2016     GL Account #   CZ1070

 

General Ledger Reconciliation  GL Entry #  Per the Bank
                   
Balance per GL- Begin of Period      $4,294.09     Ending Balance per Bank Statement  $2,331.66 
                      
Plus:        346,994.51      Plus: Outstanding Deposits   - 
Deposits   190,000.00        0229PNCPA        
    155,000.00        0229PNCPA        
Other Deposit:   1,971.44        ACCT ADJ AJE        
Paychex refund of taxes   23.07                 
                      
Less:        (349,360.05)     Less: Outstanding Disbursements     
Disbursements   349,164.04           Disbursements (Column 1)   (403.11)
Paychex Fee   171.00                 
Service Fee   25.00        0229PNCPA        
FSA Reimbursement to Bob Combs   0.01                 
- This was a check issued by Paychex - ck # 500000005                 
                      
Balance per GL - End of Period       $1,928.55      Reconciled Balance per the Bank  $1,928.55 
                Difference   (0.00)
                      
Outstanding Deposits:               FSA balance in account   403.11 
                      
                Total Outstanding Checks:   403.11 

 

 

 

 

In re Axion International, Inc. Case No. 15-12415 (15-12416 & 15-12417)
Debtor Reporting Period: February 2016

 

Month: February 1, 2016     GL Account #   CZ1080

 

General Ledger Reconciliation  Per the Bank
                
Balance per GL- Begin of Period      $9,498.56   Ending Balance per Bank Statement  $9,498.56 
                   
Plus:        -   Plus: Outstanding Deposits     
Deposits   -              
                   
Less:        -   Less: Outstanding Disbursements   - 
Disbursements   -              
                   
Balance per GL - End of Period       $9,498.56   Reconciled Balance per the Bank  $9,498.56 
             Difference   - 

 

 

 

 

In re Axion International, Inc. Case No. 15-12415 (15-12416 & 15-12417)
Debtor Reporting Period: February 2016

 

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

 

This schedule is to include all retained professional payments from case inception to current month

 

        Amount       Check   Amount Paid   Year-To-Date
Payee   Period Covered   Approved   Payor   Number   Date   Fees   Expenses   Fees   Expenses
                                     
Gordian Partners   (a)   $     200,000   AXI   WT   2/26/16   $     50,000   $               -   $         50,000   $                -
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     

 

Professional fees listed on MOR-1 is based on estimated fees and was transferred to Bayard’s trust account in anticipation of payment of these fees.  MOR-1b will be updated with actual payments when they are disbursed from the trust account.

 

(a) - Approved investment banking fee of $200,000 agreed to be paid over the period comprising the weeks ended 2/26, 3/4, 3/11 and 5/6 at $50,000 each.

 

FORM MOR-1b

(04/07)

 

 

 

 

AXION INTERNATIONAL INC    
General Ledger   Cash Journals
For the Period From Feb 1, 2016 to Feb 29, 2016            
Filter Criteria includes: Report order is by ID. Report is printed with shortened descriptions and in Detail Format.            
Account ID Account Description Date Reference Jrnl Trans Description Debit Amt Credit Amt Balance   CRJ CDJ Trfs PR Recon
                             
CZ1060 Operating Account PNC (AXI) 2/1/16     Beginning Balance     614,209.27            
CZ1060 Operating Account PNC (AXI) 2/1/16 ACH 020116 CDJ AFLAC   218.76           (218.76)  
CZ1060 Operating Account PNC (AXI) 2/1/16 WT 020116 PNC CDJ AMINO TRANSPORT   2,375.00       (2,375.00)      
CZ1060 Operating Account PNC (AXI) 2/1/16 EWDEBIT 020116 CDJ DUPUY OXYGEN & SUPPLY   267.95       (267.95)      
CZ1060 Operating Account PNC (AXI) 2/1/16 EWDEBIT 020116-1 CDJ HOME DEPOT   33.71       (33.71)      
CZ1060 Operating Account PNC (AXI) 2/1/16 EWDEBIT 020116-2 CDJ HYDRADYNE, LLC   293.38       (293.38)      
CZ1060 Operating Account PNC (AXI) 2/1/16 EWDEBIT 020116-3 CDJ RACEWAY   15.00       (15.00)      
CZ1060 Operating Account PNC (AXI) 2/1/16 EWDEBIT 020116-4 CDJ TRACTOR SUPPLY CO   53.24       (53.24)      
CZ1060 Operating Account PNC (AXI) 2/1/16 251089884 CRJ CBIZ VALUATION GROUP, LLC 3,000.00         3,000.00      
CZ1060 Operating Account PNC (AXI) 2/1/16 EWDEBIT 020116-5 CDJ ONLINE COMPONENTS.COM   131.39       (131.39)      
CZ1060 Operating Account PNC (AXI) 2/1/16 DEBIT 020116 CDJ TAX FORM FILING SERVICES   3.60       (3.60)      
CZ1060 Operating Account PNC (AXI) 2/1/16 DEBIT 020116-1 CDJ TAX FORM FILING SERVICES   19.20       (19.20)      
CZ1060 Operating Account PNC (AXI) 2/1/16 DEBIT 020116-2 CDJ TAX FORM FILING SERVICES   21.60       (21.60)      
CZ1060 Operating Account PNC (AXI) 2/1/16 EWDEBIT 020116-6 CDJ ONLINE COMPONENTS.COM   246.88       (246.88)      
CZ1060 Operating Account PNC (AXI) 2/2/16 WT 020216 PNC CDJ AMINO TRANSPORT   550.00       (550.00)      
CZ1060 Operating Account PNC (AXI) 2/2/16 WT 020216-1 PNC CDJ COLL OH RE HOLDINGS LLC.   27,318.18       (27,318.18)      
CZ1060 Operating Account PNC (AXI) 2/2/16 WT 020216-2 PNC CDJ WACO AMIGOS REAL ESTATE LLC   23,207.19       (23,207.19)      
CZ1060 Operating Account PNC (AXI) 2/2/16 EWDEBIT 020216 CDJ CENTURY SAW & TOOL   26.30       (26.30)      
CZ1060 Operating Account PNC (AXI) 2/2/16 EWDEBIT 020216-1 CDJ CRAWFORD ELECTRIC SUPPLY   919.52       (919.52)      
CZ1060 Operating Account PNC (AXI) 2/2/16 EWDEBIT 020216-2 CDJ HOME DEPOT   92.39       (92.39)      
CZ1060 Operating Account PNC (AXI) 2/2/16 EWDEBIT 020216-3 CDJ DUPUY OXYGEN & SUPPLY   267.95       (267.95)      
CZ1060 Operating Account PNC (AXI) 2/2/16 EWDEBIT 020216-4 CDJ HYDRADYNE, LLC   249.03       (249.03)      
CZ1060 Operating Account PNC (AXI) 2/2/16 EWDEBIT 020216-5 CDJ RADWELL INTERNATIONAL INC   263.50       (263.50)      
CZ1060 Operating Account PNC (AXI) 2/3/16 ACH 020316 PNC CRJ EASTERN RAIL CORPORATION 12,487.20       12,487.20        
CZ1060 Operating Account PNC (AXI) 2/3/16 DEBIT 020316 CDJ ZORO.COM   190.51       (190.51)      
CZ1060 Operating Account PNC (AXI) 2/3/16 EWDEBIT 020316 CDJ MURPHY USA   30.00       (30.00)      
CZ1060 Operating Account PNC (AXI) 2/3/16 EWDEBIT 020316-1 CDJ OFFICE DEPOT   212.65       (212.65)      
CZ1060 Operating Account PNC (AXI) 2/3/16 EWDEBIT 020316-2 CDJ WALMART   163.73       (163.73)      
CZ1060 Operating Account PNC (AXI) 2/3/16 EWDEBIT 020316-3 CDJ UNIVERSAL FOREST PRODUCT   947.52       (947.52)      
CZ1060 Operating Account PNC (AXI) 2/3/16 EWDEBIT 020316-4 CDJ RADWELL INTERNATIONAL INC   192.80       (192.80)      
CZ1060 Operating Account PNC (AXI) 2/3/16 EWDEBIT 020316-5 CDJ ZORO.COM   686.42       (686.42)      
CZ1060 Operating Account PNC (AXI) 2/4/16 WT 020416 PNC CRJ ALCOA FASTENING SYSTEMS 29,877.12       29,877.12        
CZ1060 Operating Account PNC (AXI) 2/4/16 11518 CDJ ADVANCED POLYMERS SUPPLY INC.   10,235.70       (10,235.70)      
CZ1060 Operating Account PNC (AXI) 2/4/16 11519 CDJ AMERIGAS   492.41       (492.41)      
CZ1060 Operating Account PNC (AXI) 2/4/16 11520 CDJ ASSOCIATION OF OHIO RECYCLERS   300.00       (300.00)      
CZ1060 Operating Account PNC (AXI) 2/4/16 11521 CDJ ATMOS ENERGY   318.05       (318.05)      
CZ1060 Operating Account PNC (AXI) 2/4/16 11522 CDJ NETWORK BILLING SYSTEM, LLC.   97.59       (97.59)      
CZ1060 Operating Account PNC (AXI) 2/4/16 11523 CDJ CINTAS CORPORATION   1,770.07       (1,770.07)      
CZ1060 Operating Account PNC (AXI) 2/4/16 11524 CDJ COASTAL COMPOUNDED RESINS   8,147.20       (8,147.20)      
CZ1060 Operating Account PNC (AXI) 2/4/16 11525 CDJ COASTAL COMPOUNDED RESINS   4,430.40       (4,430.40)      
CZ1060 Operating Account PNC (AXI) 2/4/16 11526 CDJ COMPUTERSHARE   697.74       (697.74)      
CZ1060 Operating Account PNC (AXI) 2/4/16 11527 CDJ COSHOCTON ENVIRONMENTAL TESTIN   60.00       (60.00)      
CZ1060 Operating Account PNC (AXI) 2/4/16 11527V CDJ COSHOCTON ENVIRONMENTAL TESTIN 60.00         60.00      
CZ1060 Operating Account PNC (AXI) 2/4/16 11528 CDJ COSHOCTON ENVIRONMENTAL TESTIN   60.00       (60.00)      
CZ1060 Operating Account PNC (AXI) 2/4/16 11529 CDJ FORD CREDIT   506.48       (506.48)      
CZ1060 Operating Account PNC (AXI) 2/4/16 11530 CDJ KERRY D. IRONS, M.D., P.A.   28.00       (28.00)      
CZ1060 Operating Account PNC (AXI) 2/4/16 11531 CDJ MICROSOFT   1,454.32       (1,454.32)      
CZ1060 Operating Account PNC (AXI) 2/4/16 11532 CDJ MUSKINGUM COUNTY UTILITIES   1,634.00       (1,634.00)      
CZ1060 Operating Account PNC (AXI) 2/4/16 11533 CDJ PITNEY BOWES GLOBAL FINANCIAL   31.52       (31.52)      
CZ1060 Operating Account PNC (AXI) 2/4/16 11534 CDJ SUNBELT RENTALS   1,274.67       (1,274.67)      
CZ1060 Operating Account PNC (AXI) 2/4/16 11535 CDJ TERMINIX   48.26       (48.26)      
CZ1060 Operating Account PNC (AXI) 2/4/16 11536 CDJ UPS   25.14       (25.14)      
CZ1060 Operating Account PNC (AXI) 2/4/16 11537 CDJ VINTAGE FILINGS   570.00       (570.00)      
CZ1060 Operating Account PNC (AXI) 2/4/16 11538 CDJ GILBERT + TOBIN   1,929.22       (1,929.22)      
CZ1060 Operating Account PNC (AXI) 2/4/16 WT 020416 PNC CDJ AMINO TRANSPORT   2,000.00       (2,000.00)      
CZ1060 Operating Account PNC (AXI) 2/4/16 WT 020416-1 PNC CDJ EMERALD PACIFIC RESOURCES   60,172.00       (60,172.00)      
CZ1060 Operating Account PNC (AXI) 2/4/16 WT 020416-2 PNC CDJ J.B. HUNT TRANSPORT, INC.   15,955.00       (15,955.00)      
CZ1060 Operating Account PNC (AXI) 2/4/16 WT 020416-3 PNC CDJ GP HARMON RECYCLING LLC   85,875.35       (85,875.35)      
CZ1060 Operating Account PNC (AXI) 2/4/16 WT 020416-4 PNC CDJ SCHNEIDER NATIONAL, INC.   3,540.00       (3,540.00)      
CZ1060 Operating Account PNC (AXI) 2/4/16 ACH 020416-1 PNC CRJ RAILWORKS TRACK SYSTEMS - SOUT 40,450.00       40,450.00        
CZ1060 Operating Account PNC (AXI) 2/4/16 EWDEBIT 020416 CDJ HOME DEPOT   10.68       (10.68)      
CZ1060 Operating Account PNC (AXI) 2/4/16 EWDEBIT 020416-1 CDJ HARBOR FREIGHT TOOLS   21.64       (21.64)      
CZ1060 Operating Account PNC (AXI) 2/4/16 EWDEBIT 020416-2 CDJ GRAYBAR   78.03       (78.03)      
CZ1060 Operating Account PNC (AXI) 2/4/16 EWDEBIT 020416-3 CDJ HOME DEPOT   79.36       (79.36)      
CZ1060 Operating Account PNC (AXI) 2/4/16 EWDEBIT 020416-4 CDJ DUPUY OXYGEN & SUPPLY   249.50       (249.50)      
CZ1060 Operating Account PNC (AXI) 2/4/16 EWDEBIT 020416-5 CDJ SIMS PLASTICS OF WACO   196.15       (196.15)      
CZ1060 Operating Account PNC (AXI) 2/4/16 EWDEBIT 020416-6 CDJ ZORO.COM   19.67       (19.67)      
CZ1060 Operating Account PNC (AXI) 2/4/16 EWDEBIT 020416-7 CDJ PRO HEAT INC.   2,439.50       (2,439.50)      
CZ1060 Operating Account PNC (AXI) 2/4/16 EWDEBIT 020416-8 CDJ ZORO.COM   499.00       (499.00)      
CZ1060 Operating Account PNC (AXI) 2/5/16 EWDEBIT 020516 CDJ GRAYBAR   165.19       (165.19)      

 

 

 

 

 

General Ledger   Cash Journals
For the Period From Feb 1, 2016 to Feb 29, 2016            
Filter Criteria includes: Report order is by ID. Report is printed with shortened descriptions and in Detail Format.            
Account ID Account Description Date Reference Jrnl Trans Description Debit Amt Credit Amt Balance   CRJ CDJ Trfs PR Recon
                             
CZ1060 Operating Account PNC (AXI) 2/5/16 EWDEBIT 020516-1 CDJ HARBOR FREIGHT TOOLS   73.51       (73.51)      
CZ1060 Operating Account PNC (AXI) 2/5/16 DEBIT 020516 CDJ WALMART   95.68       (95.68)      
CZ1060 Operating Account PNC (AXI) 2/5/16 EWDEBIT 020516-2 CDJ DUPUY OXYGEN & SUPPLY   267.95       (267.95)      
CZ1060 Operating Account PNC (AXI) 2/5/16 EWDEBIT 020516-3 CDJ GRAYBAR   78.52       (78.52)      
CZ1060 Operating Account PNC (AXI) 2/5/16 DEBIT 020516-1 CDJ STAPLES   54.67       (54.67)      
CZ1060 Operating Account PNC (AXI) 2/5/16 EWDEBIT 020516-4 CDJ GRAYBAR   78.03       (78.03)      
CZ1060 Operating Account PNC (AXI) 2/8/16 11539 CDJ LIFT TRUCK SUPPLY, INC.   429.40       (429.40)      
CZ1060 Operating Account PNC (AXI) 2/8/16 WT 020816 PNC CDJ AMINO TRANSPORT   3,600.00       (3,600.00)      
CZ1060 Operating Account PNC (AXI) 2/8/16 WT 020816-1 PNC CDJ EOVATIONS   37,350.00       (37,350.00)      
CZ1060 Operating Account PNC (AXI) 2/8/16 EWDEBIT 020816 CDJ DUPUY OXYGEN & SUPPLY   401.93       (401.93)      
CZ1060 Operating Account PNC (AXI) 2/8/16 EWDEBIT 020816-1 CDJ MARTIN TOOL & SUPPLY   252.94       (252.94)      
CZ1060 Operating Account PNC (AXI) 2/9/16 15366 CRJ AMERICAN PLASTIC LUMBER INC 2,500.00       2,500.00        
CZ1060 Operating Account PNC (AXI) 2/9/16 DEBIT 020916 CDJ ZANE FEED AND SUPPLY   53.58       (53.58)      
CZ1060 Operating Account PNC (AXI) 2/9/16 DEBIT 020916-1 CDJ SUNRISE DO IT CENTER LLC   12.85       (12.85)      
CZ1060 Operating Account PNC (AXI) 2/9/16 DEBIT 020916-2 CDJ SUNRISE DO IT CENTER LLC   3.20       (3.20)      
CZ1060 Operating Account PNC (AXI) 2/9/16 EWDEBIT 020916 CDJ HARBOR FREIGHT TOOLS   38.08       (38.08)      
CZ1060 Operating Account PNC (AXI) 2/9/16 EWDEBIT 020916-2 CDJ HYDRADYNE, LLC   282.87       (282.87)      
CZ1060 Operating Account PNC (AXI) 2/9/16 DEBIT 020916-3 CDJ SAS BEARINGS, INC.   20.60       (20.60)      
CZ1060 Operating Account PNC (AXI) 2/9/16 EWDEBIT 020916-3 CDJ RICHARDS SUPPLY COMPANY   89.48       (89.48)      
CZ1060 Operating Account PNC (AXI) 2/9/16 EWDEBIT 020916-4 CDJ PI TAPE TEXAS, LLC   160.59       (160.59)      
CZ1060 Operating Account PNC (AXI) 2/10/16 11540 CDJ SAMUEL G. ROSE   747.28       (747.28)      
CZ1060 Operating Account PNC (AXI) 2/10/16 EWDEBIT 020916-1 CDJ HOME DEPOT   53.69       (53.69)      
CZ1060 Operating Account PNC (AXI) 2/10/16 110071 CRJ SAMUEL G. ROSE 747.28         747.28      
CZ1060 Operating Account PNC (AXI) 2/10/16 EWDEBIT 021016 CDJ HOME DEPOT   12.28       (12.28)      
CZ1060 Operating Account PNC (AXI) 2/11/16 11541 CDJ SIDWELL MATERIALS, INC.   3,352.80       (3,352.80)      
CZ1060 Operating Account PNC (AXI) 2/11/16 DEBIT 021116 CDJ TRACTOR SUPPLY CO   37.46       (37.46)      
CZ1060 Operating Account PNC (AXI) 2/11/16 DEBIT 021116-1 CDJ LOWE'S HOME CENTERS, LLC   19.99       (19.99)      
CZ1060 Operating Account PNC (AXI) 2/11/16 11542 CDJ U.S. PRODUCTS CO, INC.   4,044.90       (4,044.90)      
CZ1060 Operating Account PNC (AXI) 2/11/16 11543 CDJ ADVANCED POLYMERS SUPPLY INC.   11,817.55       (11,817.55)      
CZ1060 Operating Account PNC (AXI) 2/11/16 11544 CDJ AMERICAN ELECTRIC POWER   145.49       (145.49)      
CZ1060 Operating Account PNC (AXI) 2/11/16 11545 CDJ CINTAS CORPORATION   180.62       (180.62)      
CZ1060 Operating Account PNC (AXI) 2/11/16 11546 CDJ COASTAL COMPOUNDED RESINS   12,514.40       (12,514.40)      
CZ1060 Operating Account PNC (AXI) 2/11/16 11547 CDJ COMDOC, INC.   236.06       (236.06)      
CZ1060 Operating Account PNC (AXI) 2/11/16 11548 CDJ DUPUY OXYGEN & SUPPLY   25.54       (25.54)      
CZ1060 Operating Account PNC (AXI) 2/11/16 11549 CDJ THE ENERGY COOPERATIVE   403.64       (403.64)      
CZ1060 Operating Account PNC (AXI) 2/11/16 11550 CDJ THE HARTFORD   8,936.43       (8,936.43)      
CZ1060 Operating Account PNC (AXI) 2/11/16 11551 CDJ KERRY D. IRONS, M.D., P.A.   28.00       (28.00)      
CZ1060 Operating Account PNC (AXI) 2/11/16 11552 CDJ UPS   142.09       (142.09)      
CZ1060 Operating Account PNC (AXI) 2/11/16 WT 021116 PNC CDJ GP HARMON RECYCLING LLC   86,411.65       (86,411.65)      
CZ1060 Operating Account PNC (AXI) 2/11/16 WT 021116-1 PNC CDJ EMERALD PACIFIC RESOURCES   27,951.00       (27,951.00)      
CZ1060 Operating Account PNC (AXI) 2/11/16 WT 021116-2 PNC CDJ J.B. HUNT TRANSPORT, INC.   15,955.00       (15,955.00)      
CZ1060 Operating Account PNC (AXI) 2/11/16 WT 021116-3 PNC CDJ SCHNEIDER NATIONAL, INC.   3,540.00       (3,540.00)      
CZ1060 Operating Account PNC (AXI) 2/11/16 WT 021116-4 PNC CDJ AMINO TRANSPORT   500.00       (500.00)      
CZ1060 Operating Account PNC (AXI) 2/11/16 EWDEBIT 021116 CDJ HYDRADYNE, LLC   125.53       (125.53)      
CZ1060 Operating Account PNC (AXI) 2/11/16 EWDEBIT 021116-1 CDJ DUPUY OXYGEN & SUPPLY   401.93       (401.93)      
CZ1060 Operating Account PNC (AXI) 2/11/16 EWDEBIT 021116-2 CDJ METALS 2 GO   262.01       (262.01)      
CZ1060 Operating Account PNC (AXI) 2/11/16 EWDEBIT 021116-3 CDJ NAPA AUTO PARTS   55.60       (55.60)      
CZ1060 Operating Account PNC (AXI) 2/12/16 ACH 021216 PNC CRJ RAILWORKS 147,390.00       147,390.00        
CZ1060 Operating Account PNC (AXI) 2/12/16 WT 021216 PNC CRJ H J SKELTON (CANADA) LTD 65,878.90       65,878.90        
CZ1060 Operating Account PNC (AXI) 2/12/16 11549V CDJ THE ENERGY COOPERATIVE 403.64             403.64  
CZ1060 Operating Account PNC (AXI) 2/12/16 EWDEBIT 021216 CDJ MURPHY USA   25.00       (25.00)      
CZ1060 Operating Account PNC (AXI) 2/12/16 EWDEBIT 021216-1 CDJ WALMART   44.54       (44.54)      
CZ1060 Operating Account PNC (AXI) 2/12/16 EW DEBIT 021216 CDJ KEITH'S ACE HARDWARE-HEWITT   7.97       (7.97)      
CZ1060 Operating Account PNC (AXI) 2/12/16 EWDEBIT 021216-2 CDJ ZORO.COM   107.27       (107.27)      
CZ1060 Operating Account PNC (AXI) 2/13/16 EWDEBIT 021316 CDJ FLYING F TRAVEL PLAZA   245.01       (245.01)      
CZ1060 Operating Account PNC (AXI) 2/13/16 EWDEBIT 021316-1 CDJ TRACTOR SUPPLY CO   28.16       (28.16)      
CZ1060 Operating Account PNC (AXI) 2/15/16 452694 CRJ NEW JERSEY TRANSIT 215,523.00       215,523.00        
CZ1060 Operating Account PNC (AXI) 2/15/16 EWDEBIT 021516 CDJ CENTRAL TEXAS SECURITY & FIRE   622.44       (622.44)      
CZ1060 Operating Account PNC (AXI) 2/15/16 EWDEBIT 021516-1 CDJ AUTO ZONE   21.64       (21.64)      
CZ1060 Operating Account PNC (AXI) 2/15/16 EWDEBIT 021516-2 CDJ ADVANCE AUTO PARTS   6.48       (6.48)      
CZ1060 Operating Account PNC (AXI) 2/15/16 EWDEBIT 021516-3 CDJ HOME DEPOT   17.02       (17.02)      
CZ1060 Operating Account PNC (AXI) 2/15/16 EWDEBIT 021516-4 CDJ HARBOR FREIGHT TOOLS   48.44       (48.44)      
CZ1060 Operating Account PNC (AXI) 2/15/16 EWDEBIT 021516-5 CDJ DUPUY OXYGEN & SUPPLY   214.36       (214.36)      
CZ1060 Operating Account PNC (AXI) 2/15/16 DEBIT 021516 CDJ AMAZON.COM   12.33       (12.33)      
CZ1060 Operating Account PNC (AXI) 2/15/16 DEBIT 021516-1 CDJ AMAZON.COM   13.95       (13.95)      
CZ1060 Operating Account PNC (AXI) 2/15/16 EWDEBIT 021516-6 CDJ ZORO.COM   407.04       (407.04)      
CZ1060 Operating Account PNC (AXI) 2/15/16 EWDEBIT 021516-7 CDJ RADWELL INTERNATIONAL INC   63.25       (63.25)      
CZ1060 Operating Account PNC (AXI) 2/15/16 EWDEBIT 021516-8 CDJ RADWELL INTERNATIONAL INC   275.74       (275.74)      
CZ1060 Operating Account PNC (AXI) 2/16/16 WT 021616 PNC CDJ ATC PLASTICS LLC   19,440.00       (19,440.00)      
CZ1060 Operating Account PNC (AXI) 2/16/16 WT 021616-1 PNC CDJ AMINO TRANSPORT   5,900.00       (5,900.00)      
CZ1060 Operating Account PNC (AXI) 2/16/16 15486 CRJ TG MERCER 25,119.41       25,119.41        
CZ1060 Operating Account PNC (AXI) 2/16/16 EWDEBIT 021616 CDJ HARBOR FREIGHT TOOLS   108.24       (108.24)      
CZ1060 Operating Account PNC (AXI) 2/16/16 EWDEBIT 021616-2 CDJ LOWE'S HOME CENTERS, LLC   34.96       (34.96)      

 

 

 

 

General Ledger    Cash Journals
For the Period From Feb 1, 2016 to Feb 29, 2016            
Filter Criteria includes: Report order is by ID. Report is printed with shortened descriptions and in Detail Format.            
Account ID Account Description Date Reference Jrnl Trans Description Debit Amt Credit Amt Balance   CRJ CDJ Trfs PR Recon
CZ1060 Operating Account PNC (AXI) 2/16/16 EWDEBIT 021616-3 CDJ METALS 2 GO   77.06       (77.06)      
CZ1060 Operating Account PNC (AXI) 2/16/16 EWDEBIT 021616-4 CDJ CENTURY SAW & TOOL   572.86       (572.86)      
CZ1060 Operating Account PNC (AXI) 2/16/16 EWDEBIT 021616-5 CDJ DUPUY OXYGEN & SUPPLY   214.36       (214.36)      
CZ1060 Operating Account PNC (AXI) 2/16/16 EWDEBIT 021616-6 CDJ HYDRADYNE, LLC   45.96       (45.96)      
CZ1060 Operating Account PNC (AXI) 2/16/16 EWDEBIT 021616-7 CDJ WALMART   106.28       (106.28)      
CZ1060 Operating Account PNC (AXI) 2/16/16 EWDEBIT 021616-1 CDJ PURVIS INDUSTRIES   243.04       (243.04)      
CZ1060 Operating Account PNC (AXI) 2/17/16 DEBIT 021716 CDJ ATLAS CUTTING TOOLS   106.52       (106.52)      
CZ1060 Operating Account PNC (AXI) 2/17/16 682155 CRJ B&B DIVERSIFIED MATERIALS 10,800.00       10,800.00        
CZ1060 Operating Account PNC (AXI) 2/17/16 EWDEBIT 021716 CDJ HOME DEPOT   29.87       (29.87)      
CZ1060 Operating Account PNC (AXI) 2/17/16 EWDEBIT 021716-1 CDJ WALMART - WACO   68.99       (68.99)      
CZ1060 Operating Account PNC (AXI) 2/17/16 EWDEBIT 021716-2 CDJ ZORO.COM   485.39       (485.39)      
CZ1060 Operating Account PNC (AXI) 2/18/16 11553 CDJ AMERICAN ELECTRIC POWER   20,727.26       (20,727.26)      
CZ1060 Operating Account PNC (AXI) 2/18/16 11554 CDJ COSHOCTON ENVIRONMENTAL TESTIN   60.00       (60.00)      
CZ1060 Operating Account PNC (AXI) 2/18/16 11555 CDJ THE ENERGY COOPERATIVE   4,344.20       (4,344.20)      
CZ1060 Operating Account PNC (AXI) 2/18/16 11556 CDJ THE HARTFORD   5,050.90           (5,050.90)  
CZ1060 Operating Account PNC (AXI) 2/18/16 11557 CDJ KERRY D. IRONS, M.D., P.A.   168.00       (168.00)      
CZ1060 Operating Account PNC (AXI) 2/18/16 11558 CDJ LOOP 340 OVERHEAD DOOR   1,676.64       (1,676.64)      
CZ1060 Operating Account PNC (AXI) 2/18/16 11559 CDJ MUSKINGUM COUNTY TREASURER   34,797.91       (34,797.91)      
CZ1060 Operating Account PNC (AXI) 2/18/16 11560 CDJ PARSONS OFFICE SYSTEMS INC   49.34       (49.34)      
CZ1060 Operating Account PNC (AXI) 2/18/16 11561 CDJ SIDWELL MATERIALS, INC.   15.96       (15.96)      
CZ1060 Operating Account PNC (AXI) 2/18/16 11562 CDJ SPOONER INC.   175.00       (175.00)      
CZ1060 Operating Account PNC (AXI) 2/18/16 11563 CDJ TIME WARNER CABLE   395.75       (395.75)      
CZ1060 Operating Account PNC (AXI) 2/18/16 11564 CDJ TIME WARNER CABLE   815.83       (815.83)      
CZ1060 Operating Account PNC (AXI) 2/18/16 11565 CDJ UPS   102.96       (102.96)      
CZ1060 Operating Account PNC (AXI) 2/18/16 11566 CDJ VERIZON WIRELESS   431.46       (431.46)      
CZ1060 Operating Account PNC (AXI) 2/18/16 DEBIT 021816 CDJ LOWE'S HOME CENTERS, LLC   200.99       (200.99)      
CZ1060 Operating Account PNC (AXI) 2/18/16 11567 CDJ ADVANCED POLYMERS SUPPLY INC.   13,890.70       (13,890.70)      
CZ1060 Operating Account PNC (AXI) 2/18/16 11568 CDJ COASTAL COMPOUNDED RESINS   8,643.20       (8,643.20)      
CZ1060 Operating Account PNC (AXI) 2/18/16 WT 021816 PNC CDJ AMINO TRANSPORT   18,400.00       (18,400.00)      
CZ1060 Operating Account PNC (AXI) 2/18/16 WT 021816-1 PNC CDJ EMERALD PACIFIC RESOURCES   104,018.60       (104,018.60)      
CZ1060 Operating Account PNC (AXI) 2/18/16 WT 021816-2 PNC CDJ EPIQ BANKRUPTCY SOLUTIONS   18,631.70       (18,631.70)      
CZ1060 Operating Account PNC (AXI) 2/18/16 WT 021816-3 PNC CDJ GP HARMON RECYCLING LLC   44,371.00       (44,371.00)      
CZ1060 Operating Account PNC (AXI) 2/18/16 EWDEBIT 021816 CDJ L & M ELECTRONICS   3.78       (3.78)      
CZ1060 Operating Account PNC (AXI) 2/18/16 EWDEBIT 021816-1 CDJ DUPUY OXYGEN & SUPPLY   241.16       (241.16)      
CZ1060 Operating Account PNC (AXI) 2/19/16 WT 021916 PNC CRJ ALCOA FASTENING SYSTEMS 85,395.40       85,395.40        
CZ1060 Operating Account PNC (AXI) 2/20/16 EWDEBIT 022016 CDJ FLYING J TRAVEL PLAZA   22.47       (22.47)      
CZ1060 Operating Account PNC (AXI) 2/20/16 EWDEBIT 022016-1 CDJ FLYING J TRAVEL PLAZA   23.60       (23.60)      
CZ1060 Operating Account PNC (AXI) 2/20/16 EWDEBIT 022016-2 CDJ FLYING J TRAVEL PLAZA   316.47       (316.47)      
CZ1060 Operating Account PNC (AXI) 2/22/16 453438 CRJ NEW JERSEY TRANSIT 92,367.00       92,367.00        
CZ1060 Operating Account PNC (AXI) 2/22/16 EWDEBIT 022216 CDJ RADWELL INTERNATIONAL INC   499.88       (499.88)      
CZ1060 Operating Account PNC (AXI) 2/22/16 EWDEBIT 022216-1 CDJ RADWELL INTERNATIONAL INC   275.08       (275.08)      
CZ1060 Operating Account PNC (AXI) 2/23/16 650477705 CRJ JEAN DAOUST CONSTRUCTION 3,100.00       3,100.00        
CZ1060 Operating Account PNC (AXI) 2/23/16 EWDEBIT 022316 CDJ DUPUY OXYGEN & SUPPLY   241.16       (241.16)      
CZ1060 Operating Account PNC (AXI) 2/24/16 EWDEBIT 022416 CDJ HOME DEPOT   190.39       (190.39)      
CZ1060 Operating Account PNC (AXI) 2/24/16 EWDEBIT 022416-1 CDJ TRACTOR SUPPLY CO   4.42       (4.42)      
CZ1060 Operating Account PNC (AXI) 2/24/16 EWDEBIT 022416-2 CDJ TRACTOR SUPPLY CO   22.23       (22.23)      
CZ1060 Operating Account PNC (AXI) 2/24/16 EWDEBIT 022416-3 CDJ PURVIS INDUSTRIES   235.58       (235.58)      
CZ1060 Operating Account PNC (AXI) 2/24/16 EWDEBIT 022416-4 CDJ RICHARDS SUPPLY COMPANY   79.88       (79.88)      
CZ1060 Operating Account PNC (AXI) 2/25/16 WT 022516 PNC CDJ AMINO TRANSPORT   18,400.00       (18,400.00)      
CZ1060 Operating Account PNC (AXI) 2/25/16 WT 022516-1 PNC CDJ EMERALD PACIFIC RESOURCES   30,100.00       (30,100.00)      
CZ1060 Operating Account PNC (AXI) 2/25/16 WT 022516-2 PNC CDJ GP HARMON RECYCLING LLC   25,940.25       (25,940.25)      
CZ1060 Operating Account PNC (AXI) 2/25/16 WT 022516-3 PNC CDJ SCHNEIDER NATIONAL, INC.   2,020.00       (2,020.00)      
CZ1060 Operating Account PNC (AXI) 2/25/16 EWDEBIT 022516 CDJ RICHARDS SUPPLY COMPANY   10.68             (10.68)
CZ1060 Operating Account PNC (AXI) 2/25/16 EWDEBIT 022516-1 CDJ HOME DEPOT   325.70             (325.70)
CZ1060 Operating Account PNC (AXI) 2/25/16 EWDEBIT 022516-2 CDJ TRACTOR SUPPLY CO   161.56       (161.56)      
CZ1060 Operating Account PNC (AXI) 2/25/16 EWDEBIT 022516-3 CDJ DUPUY OXYGEN & SUPPLY   241.16       (241.16)      
CZ1060 Operating Account PNC (AXI) 2/26/16 11570 CDJ ANTHEM BCBS OH GROUP   27,425.09           (27,425.09)  
CZ1060 Operating Account PNC (AXI) 2/26/16 11571 CDJ ANTHEM DENTAL   1,933.22           (1,933.22)  
CZ1060 Operating Account PNC (AXI) 2/26/16 11572 CDJ ANTHEM LIFE   252.00           (252.00)  
CZ1060 Operating Account PNC (AXI) 2/26/16 11573 CDJ CHEM-AQUA, INC.   583.00       (583.00)      
CZ1060 Operating Account PNC (AXI) 2/26/16 11574 CDJ CINTAS CORPORATION   130.65       (130.65)      
CZ1060 Operating Account PNC (AXI) 2/26/16 11575 CDJ CITY OF WACO WATER OFFICE   1,544.13       (1,544.13)      
CZ1060 Operating Account PNC (AXI) 2/26/16 11576 CDJ COASTAL COMPOUNDED RESINS   9,036.80       (9,036.80)      
CZ1060 Operating Account PNC (AXI) 2/26/16 11577 CDJ COMDOC   206.36       (206.36)      
CZ1060 Operating Account PNC (AXI) 2/26/16 11578 CDJ DIRECT ENERGY BUSINESS   30,794.23       (30,794.23)      
CZ1060 Operating Account PNC (AXI) 2/26/16 11579 CDJ GILBERT + TOBIN   197.93       (197.93)      
CZ1060 Operating Account PNC (AXI) 2/26/16 11580 CDJ KOORSEN FIRE & SECURITY   225.19       (225.19)      
CZ1060 Operating Account PNC (AXI) 2/26/16 11581 CDJ LIFT LEASE & FINANCE CORP   6,608.74       (6,608.74)      
CZ1060 Operating Account PNC (AXI) 2/26/16 11582 CDJ RING CENTRAL   1,092.27       (1,092.27)      
CZ1060 Operating Account PNC (AXI) 2/26/16 11583 CDJ AMERIGAS   328.47       (328.47)      
CZ1060 Operating Account PNC (AXI) 2/26/16 WT 022616 PNC CDJ GORDIAN GROUP, LLC   50,000.00       (50,000.00)      
CZ1060 Operating Account PNC (AXI) 2/26/16 EWDEBIT 022616 CDJ UNIVERSAL FOREST PRODUCT   729.00             (729.00)
CZ1060 Operating Account PNC (AXI) 2/27/16 EWDEBIT 022716 CDJ MURPHY USA   25.00             (25.00)

 

 

 

 

General Ledger    Cash Journals
For the Period From Feb 1, 2016 to Feb 29, 2016            
Filter Criteria includes: Report order is by ID. Report is printed with shortened descriptions and in Detail Format.            
Account ID Account Description Date Reference Jrnl Trans Description Debit Amt Credit Amt Balance   CRJ CDJ Trfs PR Recon
CZ1060 Operating Account PNC (AXI) 2/27/16 EWDEBIT 022716-1 CDJ HOME DEPOT   155.66             (155.66)
CZ1060 Operating Account PNC (AXI) 2/27/16 EWDEBIT 022716-2 CDJ LOWE'S HOME CENTERS, LLC   15.73             (15.73)
CZ1060 Operating Account PNC (AXI) 2/27/16 EWDEBIT 022716-3 CDJ TRACTOR SUPPLY CO   216.31             (216.31)
CZ1060 Operating Account PNC (AXI) 2/27/16 EWDEBIT 022716-4 CDJ FLYING J TRAVEL PLAZA   265.72             (265.72)
CZ1060 Operating Account PNC (AXI) 2/28/16 0229PNCOA GENJ To record bank fees for February 2016   348.50       (348.50)      
CZ1060 Operating Account PNC (AXI) 2/29/16 454514 CRJ NEW JERSEY TRANSIT 153,945.00               153,945.00
CZ1060 Operating Account PNC (AXI) 2/29/16 EWDEBIT 022916 CDJ PURVIS INDUSTRIES 235.58               235.58
CZ1060 Operating Account PNC (AXI) 2/29/16 DEBIT 022916 CDJ ZORO.COM   119.89             (119.89)
CZ1060 Operating Account PNC (AXI) 2/29/16 DEBIT 022916-1 CDJ PLATT ELECTRIC   180.58             (180.58)
CZ1060 Operating Account PNC (AXI) 2/29/16 0229PNCPA GENJ Transfer of cash for payroll   190,000.00         (190,000.00)    
CZ1060 Operating Account PNC (AXI) 2/29/16 0229PNCPA GENJ Transfer of cash for payroll   155,000.00         (155,000.00)    
CZ1060 Operating Account PNC (AXI) 2/29/16 EWDEBIT 022916-1 CDJ TUBES N HOSES OF WACO   118.73             (118.73)
CZ1060 Operating Account PNC (AXI) 2/29/16 EWDEBIT 022916-2 CDJ CRAWFORD ELECTRIC SUPPLY   601.73             (601.73)
CZ1060 Operating Account PNC (AXI) 2/29/16 EWDEBIT 022916-3 CDJ PRO HEAT INC.   342.55             (342.55)
CZ1060 Operating Account PNC (AXI) 2/29/16 EWDEBIT 022916-4 CDJ RICHARDS SUPPLY COMPANY   440.86             (440.86)
CZ1060 Operating Account PNC (AXI) 2/29/16 EWDEBIT 030216-3 CDJ ZORO.COM   227.94             (227.94)
CZ1060 Operating Account PNC (AXI) 2/29/16 0229PNCOA AJE GENJ To post AJE for incorrect recording of reimbursement for emp exp 66.15         66.15      
CZ1060 Operating Account PNC (AXI)       Current Period Change 889,345.68 1,350,717.36 (461,371.68)            
    2/29/16     Ending Balance     152,837.59   730,888.03 (963,187.88) (345,000.00) (34,476.33) 150,404.50
                0.00            
CZ1070 Payroll Account PNC (AXI) 2/1/16     Beginning Balance     4,294.09            
CZ1070 Payroll Account PNC (AXI) 2/1/16 ACH02012016 CRJ PAYCHEX 23.07             23.07  
CZ1070 Payroll Account PNC (AXI) 2/2/16 50000005 CDJ Bob Combs   0.01           (0.01)  
CZ1070 Payroll Account PNC (AXI) 2/15/16 021516 CDJ Paychex   171.00           (171.00)  
CZ1070 Payroll Account PNC (AXI) 2/29/16 0229-PAYR GENJ Payroll for Feb 2016   349,164.04           (349,164.04)  
CZ1070 Payroll Account PNC (AXI) 2/29/16 0229PNCPA GENJ Transfer of cash for payroll 155,000.00           155,000.00    
CZ1070 Payroll Account PNC (AXI) 2/29/16 0229PNCPA GENJ Bank fee for Feb 2016   25.00           (25.00)  
CZ1070 Payroll Account PNC (AXI) 2/29/16 0229PNCPA GENJ Transfer of cash for payroll 190,000.00           190,000.00    
CZ1070 Payroll Account PNC (AXI) 2/29/16 ACCT ADJ AJE GENJ To adjust FSA balance to 2/26/16 reconciled balance 1,971.44         1,971.44      
CZ1070 Payroll Account PNC (AXI)       Current Period Change 346,994.51 349,360.05 (2,365.54)            
    2/29/16     Ending Balance     1,928.55   - 1,971.44 345,000.00 (349,336.98) -
                             
                TOTAL >>   730,888.03 (961,216.44) - (383,813.31) 150,404.50
          Reconciliation of Cash Transactions Per GL v. MOR              
            MOR GL              
          Beginning cash balance 621,390.82 618,503.36              
          Cash receipts 730,888.03 730,888.03              
          Cash disbursements (964,152.00) (961,216.44)              
          Payroll disbursements (383,766.00) (383,813.31)              
          Ending cash balance, per MOR 4,360.85                
          Reconciling items between GL & MOR   150,404.50              
          Ending cash balance, per GL   154,766.14              
              (0.00)              

 

 

 

 

In re: Axion International, Inc. Case No.: 15-12415
Debtor Reporting Period: February 2016

 

STATEMENT OF OPERATIONS

(Income Statement)

 

The Statement of Operations is to be prepared on an accrual basis. The accrual basis of accounting recognizes revenue when it is realized and expenses when they are incurred, regardless of when cash is actually received or paid.

 

       Cumulative 
REVENUES  Month   Filing to Date 
Gross Revenues  $1,111,181   $2,547,424 
Less: Returns and Allowances  $-   $- 
Net Revenue  $1,111,181   $2,547,424 
COST OF GOODS SOLD          
Beginning Inventory  $1,395,898   $4,691,873 
Add: Purchases  $708,902   $1,467,859 
Add: Cost of Labor & Production Costs  $468,936   $1,400,868 
Add: Other Costs (attach schedule)  $50,398   $189,579 
Less: Ending Inventory  $(1,368,962)  $(4,258,342)
Cost of Goods Sold  $1,255,173   $3,491,836 
Gross Profit  $(143,992)  $(944,412)
OPERATING EXPENSES          
Personnel Costs - Sales & Marketing  $39,037   $121,343 
Personnel Costs - General & Administrative  $86,701   $271,548 
Travel & Meals  $16,281   $45,540 
Advertising, Trade Shows & Customer Relationship  $3,459   $20,881 
Office Expenses  $13,345   $21,610 
Board of Directors  $-   $(12,074)
Investor Relations & Shareholders Services  $(1,866)  $992 
Insurance  $21,596   $83,388 
Legal & Other Professional Fees  $198   $2,625 
Other (attach schedule)  $-   $- 
Total Operating Expenses Before Depreciation  $178,752   $555,852 
Depreciation/Depletion/Amortization  $10,187   $30,578 
Net Profit (Loss) Before Other Income & Expenses  $(332,931)  $(1,530,843)
OTHER INCOME AND EXPENSES          
Other Income (attach schedule)  $(4,000,000)  $(4,000,000)
Interest Expense  $75,459   $134,982 
Other Expense (attach schedule)  $-   $- 
Net Profit (Loss) Before Reorganization Items  $3,591,610   $2,334,175 
REORGANIZATION ITEMS          
Professional Fees  $68,632   $228,156 
U. S. Trustee Quarterly Fees  $-   $7,150 
Interest Earned on Accumulated Cash from Chapter 11 (see continuation sheet)  $-   $- 
Gain (Loss) from Sale of Equipment  $-   $- 
Other Reorganization Expenses (attach schedule)  $-   $- 
Total Reorganization Expenses  $-   $- 
Income Taxes  $-   $- 
Net Profit (Loss)  $3,522,978   $2,098,868 

 

*"Insider" is defined in 11 U.S.C. Section 101(31).

 

FORM MOR-2

(04/07)

 

 

 

 

In re: Axion International, Inc. Case No.: 15-12415
Debtor Reporting Period: February 2016

 

STATEMENT OF OPERATIONS - continuation sheet

 

       Cumulative 
BREAKDOWN OF "OTHER" CATEGORY  Month   Filing to Date 
         
Other Costs          
Freight costs to customers  $(6,845)  $20,784 
Royalties Under License  $16,398   $37,305 
Purchasing & Product Development departments  $40,845   $130,228 
Product Development  $-   $1,262 
           
Other Operational Expenses          
           
           
           
           
           
Other Income          
Gain on Extinguishment of Debt  $4,000,000   $4,000,000 
           
           
           
           
Other Expenses          
           
           
           
           
           
Other Reorganization Expenses          
           
           
           
           
           
           
           
           
           

 

Reorganization Items - Interest Earned on Accumulated Cash from Chapter 11:

Interest earned on cash accumulated during the chapter 11 case, which would not have been earned but for the bankruptcy proceeding, should be reported as a reorganization item.

 

FORM MOR-2 CONT'D

(04/07)

 

 

 

 

In re Axion International, Inc. Case No. 15-12415
Debtor Reporting Period: February 2016

 

BALANCE SHEET

 

The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be classified separately from postpetition obligations.

 

   BOOK VALUE AT END OF   BOOK VALUE ON 
ASSETS  CURRENT REPORTING MONTH   PETITION DATE 
CURRENT ASSETS          
Unrestricted Cash and Equivalents  $164,265   $134,421 
Restricted Cash and Cash Equivalents (see continuation sheet)  $-   $- 
Accounts Receivable (Net)  $1,446,085   $2,034,172 
Notes Receivable  $-   $- 
Inventories  $1,368,962   $1,803,405 
Prepaid Expenses  $225,805   $114,429 
Professional Retainers  $-   $- 
Other Current Assets (attach schedule)  $-   $- 
TOTAL CURRENT ASSETS  $3,205,117   $4,086,426 
PROPERTY AND EQUIPMENT          
Real Property and Improvements  $-   $- 
Machinery and Equipment  $11,443,208   $11,484,181 
Furniture, Fixtures and Office Equipment  $259,596   $259,596 
Leasehold Improvements  $58,467   $19,818 
Vehicles  $-   $- 
Less Accumulated Depreciation  $(3,645,783)  $(3,320,092)
TOTAL PROPERTY & EQUIPMENT  $8,115,488   $8,443,503 
OTHER ASSETS          
Loans to Insiders*  $-   $- 
Other Assets (attach schedule)  $-   $- 
TOTAL OTHER ASSETS  $-   $- 
           
TOTAL ASSETS  $11,320,605   $12,529,929 

 

   BOOK VALUE AT END OF   BOOK VALUE ON 
LIABILITIES AND OWNER EQUITY  CURRENT REPORTING MONTH   PETITION DATE 
LIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition)          
Accounts Payable  $183,525   $- 
Taxes Payable (refer to FORM MOR-4)  $107,229   $73,275 
Wages Payable  $139,152   $202,788 
Notes Payable  $-   $- 
Rent / Leases - Building/Equipment  $612,368   $554,793 
Secured Debt / Adequate Protection Payments  $850,000   $200,000 
Professional Fees  $-   $- 
Amounts Due to Insiders*  $-   $- 
Other Postpetition Liabilities (attach schedule)  $673,557   $673,980 
TOTAL POSTPETITION LIABILITIES  $2,565,831   $1,704,837 
LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)          
Secured Debt  $9,440,327   $9,386,118 
Priority Debt  $-   $- 
Unsecured Debt  $2,871,849   $7,083,172 
TOTAL PRE-PETITION LIABILITIES  $12,312,176   $16,469,290 
           
TOTAL LIABILITIES  $14,878,007   $18,174,127 
OWNER EQUITY          
Capital Stock  $54,725,760   $54,737,834 
Additional Paid-In Capital  $-   $- 
Preferred Stock  $4,079,980   $4,079,980 
Owner's Equity Account  $-   $- 
Retained Earnings - Pre-Petition  $(64,462,011)  $(64,462,011)
Retained Earnings - Postpetition  $2,098,869   $- 
Adjustments to Owner Equity (attach schedule)  $-   $- 
Postpetition Contributions (Distributions) (Draws) (attach schedule)  $-   $- 
NET OWNER EQUITY  $(3,557,402)  $(5,644,197)
           
TOTAL LIABILITIES AND OWNERS' EQUITY  $11,320,605   $12,529,929 

 

*"Insider" is defined in 11 U.S.C. Section 101(31).

 

FORM MOR-3

(04/07)

 

 

 

 

In re: Axion International, Inc. Case No.: 15-12415
Debtor Reporting Period: February 2016

 

BALANCE SHEET - continuation sheet

 

   BOOK VALUE AT END OF   BOOK VALUE ON 
ASSETS  CURRENT REPORTING MONTH   PETITION DATE 
Other Current Assets          
           
           
           
           
           
           
Other Assets          
           
           
           
           
           
           

 

   BOOK VALUE AT END OF   BOOK VALUE ON 
LIABILITIES AND OWNER EQUITY  CURRENT REPORTING MONTH   PETITION DATE 
Other Postpetition Liabilities          
Customer deposit  $167,300   $167,300 
Sales tax payable  $44,944   $45,141 
Ford credit truck loan  $20,486   $21,261 
Bureau of Workers Comp - Ohio  $13,277   $16,577 
Royalties payable  $94,346   $147,503 
Accrued interest  $414,320   $276,198 
Miscellaneous month-end cutoff invoices          
           
Adjustments to Owner Equity          
           
           
           
           
Postpetition Contributions (Distributions) (Draws)          
           
           

 

Restricted Cash is cash that is restricted for a specific use and not available to fund operations. Typically, restricted cash is segregated into a separate account, such as an escrow account.

 

FORM MOR-3 CONT'D

(04/07)

 

 

 

 

In re: Axion International, Inc. Case No. 15-12415
Debtor Reporting Period: February 2016

 

STATUS OF POSTPETITION TAXES

 

The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero.

Attach photocopies of IRS Form 6123 or payment receipt to verify payment or deposit of federal payroll taxes.

Attach photocopies of any tax returns filed during the reporting period.

 

    Beginning   Amount               Ending
    Tax   Withheld or   Amount   Date   Check No.   Tax
Federal   Liability   Accrued   Paid   Paid   or EFT   Liability
Withholding                        
FICA-Employee                        
FICA-Employer   Through our payroll processor, Paychex, we have remitted and filed our tax returns when due.
Unemployment                        
Income                        
Other:_________________                        
Total Federal Taxes                        
State and Local                        
Withholding                        
Sales                        
Excise   Through our payroll processor, Paychex, we have remitted and filed our tax returns when due.
Unemployment                        
Real Property                        
Personal Property                        
Other:_________________                        
Total State and Local                        
Total Taxes                        

 

SUMMARY OF UNPAID POSTPETITION DEBTS

 

Attach aged listing of accounts payable.

 

       Number of Days Past Due     
   Current   0-30   31-60   61-90   Over 90   Total 
Accounts Payable  $183,525   $-   $-   $-   $-   $183,525 
Wages & Benefits Payable  $139,152   $-   $-   $-   $-   $139,152 
Taxes Payable  $107,229   $-   $-   $-   $-   $107,229 
Rent/Leases-Building  $612,368   $-   $-   $-   $-   $612,368 
Rent/Leases-Equipment                           $- 
Secured Debt/Adequate Protection Payments  $850,000   $-   $-   $-   $-   $850,000 
Professional Fees                           $- 
Amounts Due to Insiders*                           $- 
Truck loan  $20,096                       $20,096 
Interest  $456,617                       $456,617 
Customer deposits  $86,100                       $86,100 
Royalties payable  $110,744                       $110,744 
Total Postpetition Debts  $2,565,831   $-   $-   $-   $-   $2,565,831 

 

Explain how and when the Debtor intends to pay any past-due postpetition debts.

 

*"Insider" is defined in 11 U.S.C. Section 101(31).

 

FORM MOR-4

(04/07)

 

 

 

 

In re: Axion International, Inc. Case No. 15-12415
Debtor Reporting Period: February 2016

 

AXION INTERNATIONAL INC

Aged Payables

As of Feb 29, 2016

 

Filter Criteria includes: 1) Includes Drop Shipments. Report order is by ID. Report is printed in Detail Format.

 

Vendor ID  Vendor  Date  Date Due  Invoice/CM #  0 - 30   31 - 60   61 - 90   Over 90 days   Amount Due   Vendor Type
ADVA01  ADVANCED POLYMERS SUPPLY INC.  2/26/16  3/7/16  1584   3,791.00                   3,791.00   RAW
ADVA01  ADVANCED POLYMERS SUPPLY INC.  2/29/16  3/10/16  1585   4,015.40                   4,015.40   RAW
                                         
ADVA01  ADVANCED POLYMERS SUPPLY INC.            7,806.40    -    -    -    7,806.40    
                                         
AFLA01  AFLAC  2/14/16  3/1/16  048267   218.76                   218.76   INSURANC
                                         
AFLA01  AFLAC            218.76    -    -    -    218.76    
                                         
AMER02  AMERIGAS  1/8/16  3/8/16  3047862028        124.06              124.06   MRO
AMER02  AMERIGAS  1/13/16  3/13/16  3048031445        227.14              227.14   MRO
                                         
AMER02  AMERIGAS            -    351.20    -    -    351.20    
                                         
AMER04  AMERICAN ELECTRIC POWER  2/15/16  3/8/16  07916818029MAR   2,142.66                   2,142.66   UTILITY
                                         
AMER04  AMERICAN ELECTRIC POWER            2,142.66    -    -    -    2,142.66    
                                         
ATMO02  ATMOS ENERGY  2/24/16  3/9/16  022416   (12.44)                  (12.44)  UTILITY
                                         
ATMO02  ATMOS ENERGY            (12.44)   -    -    -    (12.44)   
                                         
BWCS01  BWC STATE INSURANCE FUND  1/21/16  2/20/16  PAYRADJCREDIT        (8,502.22)             (8,502.22)  INSURANC
                                         
BWCS01  BWC STATE INSURANCE FUND            -    (8,502.22)   -    -    (8,502.22)   
                                         
CHEM01  CHEM-AQUA, INC.  2/15/16  2/25/16  2212735   583.00                   583.00   MRO
                                         
CHEM01  CHEM-AQUA, INC.            583.00    -    -    -    583.00    
                                         
CINT01  CINTAS CORPORATION  2/10/16  3/10/16  530587098   339.98                   339.98   MRO
CINT01  CINTAS CORPORATION  2/17/16  3/10/16  530588739   190.88                   190.88   MRO
CINT01  CINTAS CORPORATION  2/24/16  3/10/16  530590317   173.69                   173.69   MRO
                                         
CINT01  CINTAS CORPORATION            704.55    -    -    -    704.55    
                                         
CINT02  CINTAS CORPORATION #637  2/3/16  3/10/16  637453090   180.62                   180.62   MRO
CINT02  CINTAS CORPORATION #637  2/10/16  3/10/16  637453466   180.62                   180.62   MRO
CINT02  CINTAS CORPORATION #637  2/17/16  3/10/16  637453834   180.62                   180.62   MRO
CINT02  CINTAS CORPORATION #637  2/24/16  3/10/16  637454206   315.67                   315.67   MRO
                                         
CINT02  CINTAS CORPORATION #637            857.53    -    -    -    857.53    
                                         
COAS01  COASTAL COMPOUNDED RESINS  2/26/16  2/26/16  4829   4,308.80                   4,308.80   RAW
COAS01  COASTAL COMPOUNDED RESINS  2/29/16  2/29/16  4831   4,107.20                   4,107.20   RAW
                                         
COAS01  COASTAL COMPOUNDED RESINS            8,416.00    -    -    -    8,416.00    
                                         
COMP01  COMPUTERSHARE, INC  2/9/16  3/10/16  US_CSSI975570   551.78                   551.78   INVEST
                                         
COMP01  COMPUTERSHARE, INC            551.78    -    -    -    551.78    
                                         
COSH01  COSHOCTON ENVIRONMENTAL TESTING LLC  2/17/16  3/18/16  622-38567   60.00                   60.00   MRO
COSH01  COSHOCTON ENVIRONMENTAL TESTING LLC  2/29/16  3/30/16  632-38602   60.00                   60.00   MRO
                                         
COSH01  COSHOCTON ENVIRONMENTAL TESTING LLC            120.00    -    -    -    120.00    
                                         
DUPU01  DUPUY OXYGEN & SUPPLY  2/16/16  3/17/16  377357   25.54                   25.54   MRO
                                         
DUPU01  DUPUY OXYGEN & SUPPLY            25.54    -    -    -    25.54    
                                         
EMER01  EMERALD PACIFIC RESOURCES  2/25/16  2/25/16  416-1204   14,945.00                   14,945.00   RAW
EMER01  EMERALD PACIFIC RESOURCES  2/25/16  2/25/16  416-1203   15,113.00                   15,113.00   RAW
EMER01  EMERALD PACIFIC RESOURCES  2/25/16  2/25/16  416-1202   14,959.00                   14,959.00   RAW
EMER01  EMERALD PACIFIC RESOURCES  2/25/16  2/25/16  416-1200   15,141.00                   15,141.00   RAW
EMER01  EMERALD PACIFIC RESOURCES  2/25/16  2/25/16  416-1198   15,078.00                   15,078.00   RAW
EMER01  EMERALD PACIFIC RESOURCES  2/25/16  2/25/16  416-1199   15,050.00                   15,050.00   RAW
                                         
EMER01  EMERALD PACIFIC RESOURCES            90,286.00    -    -    -    90,286.00    
                                         
HERZ01  HERZOG  2/8/16  3/9/16  20816   45,649.21                   45,649.21   SUBCONTR
                                         
HERZ01  HERZOG            45,649.21    -    -    -    45,649.21    
                                         
MICR01  MICROSOFT CORPORATION  2/12/16  3/13/16  E01001UI0P   1,179.75                   1,179.75   IT
MICR01  MICROSOFT CORPORATION  2/12/16  3/13/16  E01001UHW6   33.25                   33.25   IT
MICR01  MICROSOFT CORPORATION  2/12/16  3/13/16  E01001UI0Q   32.18                   32.18   IT
MICR01  MICROSOFT CORPORATION  2/12/16  3/13/16  E01001UI85   209.14                   209.14   IT
                                         
MICR01  MICROSOFT CORPORATION            1,454.32    -    -    -    1,454.32    

 

 

 

 

Vendor ID  Vendor  Date  Date Due  Invoice/CM #  0 - 30   31 - 60   61 - 90   Over 90 days   Amount Due   Vendor Type
                                         
MUSK02  MUSKINGUM COUNTY UTILITIES  2/17/16  3/15/16  201-01270-02FEB16   4,396.95                   4,396.95   UTILITY
                                         
MUSK02  MUSKINGUM COUNTY UTILITIES            4,396.95    -    -    -    4,396.95    
                                         
PINN01  PINNACLE RECYCLING  2/12/16  3/13/16  30203   11,595.50                   11,595.50   RAW
                                         
PINN01  PINNACLE RECYCLING            11,595.50    -    -    -    11,595.50    
                                         
POLY02  POLY RECYCLE OF MARYLAND LLC  2/25/16  3/3/16  2332   14,559.60                   14,559.60   RAW
                                         
POLY02  POLY RECYCLE OF MARYLAND LLC            14,559.60    -    -    -    14,559.60    
                                         
PURC01  PITNEY BOWES POSTAGE BY PHONE  2/14/16  3/13/16  021416   217.98                   217.98   LEASE
                                         
PURC01  PITNEY BOWES POSTAGE BY PHONE            217.98    -    -    -    217.98    
                                         
SPOO01  SPOONER INC.  2/24/16  3/25/16  76-023016   175.00                   175.00   INSURANC
                                         
SPOO01  SPOONER INC.            175.00    -    -    -    175.00    
                                         
SUNB03  SUNBELT RENTALS  2/15/16  2/20/16  44384632-029   1,274.67                   1,274.67   MRO
                                         
SUNB03  SUNBELT RENTALS            1,274.67    -    -    -    1,274.67    
                                         
TERM01  TERMINIX  2/17/16  3/7/16  3526622140   48.26                   48.26   MRO
                                         
TERM01  TERMINIX            48.26    -    -    -    48.26    
                                         
UPS01  UPS  2/27/16  3/7/16  11YA17096   22.87                   22.87   FREIGHT
                                         
UPS01  UPS            22.87    -    -    -    22.87    
                                         
VINT01  VINTAGE FILINGS  2/25/16  2/25/16  1-410373   582.00                   582.00   INVEST
                                         
VINT01  VINTAGE FILINGS            582.00    -    -    -    582.00    
                                         
Report Total            191,676.14    (8,151.02)   -    -    183,525.12    

 

 

 

 

In re: Axion International, Inc. Case No.: 15-12415
Debtor Reporting Period: February 2016

 

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

 

Accounts Receivable Reconciliation  Amount 
Total Accounts Receivable at the beginning of the reporting period  $1,272,071 
+ Amounts billed during the period  $1,129,000 
- Amounts collected during the period  $(885,778)
Total Accounts Receivable at the end of the reporting period  $1,515,293(a)

 

Accounts Receivable Aging  Amount 
0 - 30 days old  $1,449,807 
31 - 60 days old  $977 
61 - 90 days old     
91+ days old  $64,510 
Total Accounts Receivable  $1,515,293 
Amount considered uncollectible (Bad Debt)  $(69,208)
Accounts Receivable (Net)  $1,446,085 

 

DEBTOR QUESTIONNAIRE

 

Must be completed each month   Yes   No
1. Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below.       No
2. Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below.       No
3. Have all postpetition tax returns been timely filed? If no, provide an explanation below.   Yes    
4. Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below.   Yes    
5. Has any bank account been opened during the reporting period? If yes, provide documentation identifying the opened account(s). If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.   No    

 

(a) Reconciliation of AR

 

Beginning balance   1,272,071 
Sales as reported on MOR 2   1,111,181 
Superior deposit, no invoice   (81,200)
Freight recorded as a dr to COS, not sales   97,105 
TG Mercer transaction ??   1,914 
Collections, per MOR-1   (730,888)
Collections not reported in MOR-1, as collected 2/29, post cutoff for this report.   (154,890)
Ending balance   1,515,293 

 

FORM MOR-5

(04/07)

 

 



 

EXHIBIT 99.3

 

UNITED STATES BANKRUPTCY COURT

DISTRICT OF DELAWARE

 

In re: Axion Recycled Plastics Incorporated Case No.: 15—12417
  Reporting Period: February 2016

 

MONTHLY OPERATING REPORT (NO ACTIVITY DURING THE REPORTING PERIOD)

File with Court and submit copy to United States Trustee within 20 days after end of month

 

Submit copy of report to any official committee appointed in the case.

 

        Document   Explanation   Affidavit/Supplement
REQUIRED DOCUMENTS   Form No.   Attached   Attached   Attached
Schedule of Cash Receipts and Disbursements   MOR-1   Y        
Bank Reconciliation (or copies of debtor's bank reconciliations)   MOR-1a   Y        
Schedule of Professional Fees Paid   MOR-1b   Y        
Copies of bank statements       n/a        
Cash disbursements journals       n/a        
Statement of Operations   MOR-2   Y        
Balance Sheet   MOR-3   Y        
Status of Postpetition Taxes   MOR-4   Y        
Copies of IRS Form 6123 or payment receipt       N        
Copies of tax returns filed during reporting period       N        
Summary of Unpaid Postpetition Debts   MOR-4   Y        
Listing of aged accounts payable   MOR-4   Y        
Accounts Receivable Reconciliation and Aging   MOR-5   Y        
Debtor Questionnaire   MOR-5   Y        

 

I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.

 

/s/ Donald W. Fallon   March 18,2016  
Signature of Debtor   Date  
       
/s/ Donald W. Fallon   March 18,2016  
Signature of Joint Debtor   Date  
       
/s/ Donald W. Fallon   March 18,2016  
Signature of Authorized Individual*   Date  
       
Donald W. Fallon   CFO & Treasurer  
Printed Name of Authorized Individual   Title of Authorized Individual  

 

*Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.

 

MOR

(04/07)

 

 

 

 

In re: Axion Recycled Plastics Incorporated Case No.: 15-12417
Debtor Reporting Period: February 2016

 

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

 

Amounts reported should be per the debtor's books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the "CURRENT MONTH - ACTUAL" column must equal the sum of the four bank account columns. The amounts reported in the "PROJECTED" columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1) . Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each account. [See MOR-1 (CON'T)]

 

   BANK ACCOUNTS   CURRENT MONTH   CUMULATIVE FILING TO DATE 
   OPER.   PAYROLL   TAX   OTHER   ACTUAL   PROJECTED   ACTUAL   PROJECTED 
CASH BEGINNING OF MONTH  $-   $-   $-   $-   $-   $-   $-   $- 
                                         
RECEIPTS                                        
CASH SALES                                        
ACCOUNTS RECEIVABLE                                        
LOANS AND ADVANCES                                        
SALE OF ASSETS                                        
OTHER (ATTACH LIST)                                        
TRANSFERS (FROM DIP ACCTS)                                        
                                         
TOTAL RECEIPTS                                        
                                         
DISBURSEMENTS                                        
NET PAYROLL                                        
PAYROLL TAXES                                        
SALES, USE, & OTHER TAXES                                        
INVENTORY PURCHASES            NO ACTIVITY           
SECURED/ RENTAL/ LEASES                                        
INSURANCE                                        
ADMINISTRATIVE                                        
SELLING                                        
OTHER (ATTACH LIST)                                        
                                         
OWNER DRAW *                                        
TRANSFERS (TO DIP ACCTS)                                        
                                         
PROFESSIONAL FEES                                        
U.S. TRUSTEE QUARTERLY FEES                                        
COURT COSTS                                        
TOTAL DISBURSEMENTS                                        
                                         
NET CASH FLOW                                        
(RECEIPTS LESS DISBURSEMENTS)                                        
                                         
CASH - END OF MONTH  $-   $-   $-   $-   $-   $-   $-   $- 

 

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

 

THE FOLLOWING SECTION MUST BE COMPLETED

 

DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN)     
TOTAL DISBURSEMENTS  $- 
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS  $  
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts)  $  
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES  $- 

 

FORM MOR-1

(04/07)

 

 

 

 

In re: Axion Recycled Plastics Incorporated Case No.: 15-12417
Debtor Reporting Period: February 2016

 

BANK RECONCILIATIONS

Continuation Sheet for MOR-1

A bank reconciliation must be included for each bank account. The debtor's bank reconciliation may be substituted for this page.

 

    Operating   Payroll   Tax   Other
    #       #       #       #    
BALANCE PER BOOKS                                
                                 
BANK BALANCE                                
(+) DEPOSITS IN TRANSIT (ATTACH LIST)                                
(-) OUTSTANDING CHECKS (ATTACH LIST)                                
OTHER (ATTACH EXPLANATION)                                
ADJUSTED BANK BALANCE *           NO ACTIVITY        
* Adjusted bank balance must equal balance per books                                
                                 
DEPOSITS IN TRANSIT   Date   Amount   Date   Amount   Date   Amount   Date   Amount
                                 
                                 
                                 
                                 
                                 
                                 
                                 
CHECKS OUTSTANDING   Ck. #   Amount   Ch. #   Amount   Ck. #   Amount   Ck. #   Amount
                                 
                                 
                                 
                                 
                                 
                                 
                                 
                                 
                                 
                                 
                                 
                                 
                                 
                                 
                                 
                                 
                                 
                                 
                                 
OTHER                                
                                 
                                 
                                 
                                 
                                 
                                 

 

FORM MOR-1a

(04/07)

 

 

 

 

In re: Axion Recycled Plastics Incorporated Case No.: 15-12417
Debtor Reporting Period: February 2016

 

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

This schedule is to include all retained professional payments from case inception to current month

 

        Amount       Check   Amount Paid   Year-To-Date
Payee   Period Covered   Approved   Payor   Number   Date   Fees   Expenses   Fees   Expenses
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
            NO ACTIVITY            
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     

 

FORM MOR-1b

(04/07)

 

 

 

 

In re: Axion Recycled Plastics Incorporated Case No.: 15-12417
Debtor Reporting Period: February 2016

 

STATEMENT OF OPERATIONS

(Income Statement)

 

The Statement of Operations is to be prepared on an accrual basis. The accrual basis of accounting recognizes revenue when it is realized and expenses when they are incurred, regardless of when cash is actually received or paid.

 

       Cumulative 
REVENUES  Month   Filing to Date 
Gross Revenues  $-   $- 
Less: Returns and Allowances          
Net Revenue  $    $  
COST OF GOODS SOLD          
Beginning Inventory          
Add: Purchases          
Add: Cost of Labor          
Add: Other Costs (attach schedule)  NO ACTIVITY 
Less: Ending Inventory          
Cost of Goods Sold          
Gross Profit          
OPERATING EXPENSES          
Advertising          
Auto and Truck Expense          
Bad Debts          
Contributions          
Employee Benefits Programs          
Insider Compensation*          
Insurance          
Management Fees/Bonuses          
Office Expense          
Pension & Profit-Sharing Plans          
Repairs and Maintenance          
Rent and Lease Expense          
Salaries/Commissions/Fees          
Supplies          
Taxes - Payroll          
Taxes - Real Estate          
Taxes - Other          
Travel and Entertainment          
Utilities          
Other (attach schedule)          
Total Operating Expenses Before Depreciation          
Depreciation/Depletion/Amortization          
Net Profit (Loss) Before Other Income & Expenses          
OTHER INCOME AND EXPENSES          
Other Income (attach schedule)          
Interest Expense          
Other Expense (attach schedule)          
Net Profit (Loss) Before Reorganization Items          
REORGANIZATION ITEMS          
Professional Fees          
U. S. Trustee Quarterly Fees          
Interest Earned on Accumulated Cash from Chapter 11 (see continuation sheet)          
Gain (Loss) from Sale of Equipment          
Other Reorganization Expenses (attach schedule)          
Total Reorganization Expenses          
Income Taxes          
Net Profit (Loss)  $-   $- 

 

*"Insider" is defined in 11 U.S.C. Section 101(31).

 

FORM MOR-2

(04/07)

 

 

 

 

In re: Axion Recycled Plastics Incorporated   Case No.: 15-12417
Debtor   Reporting Period: February 2016

 

STATEMENT OF OPERATIONS - continuation sheet

 

        Cumulative
BREAKDOWN OF "OTHER" CATEGORY   Month   Filing to Date
         
Other Costs        
         
         
         
         
         
Other Operational Expenses        
         
    NO ACTIVITY
         
         
         
Other Income        
         
         
         
         
         
Other Expenses        
         
         
         
         
         
Other Reorganization Expenses        
         
         
         
         
         
         
         
         
         

 

Reorganization Items - Interest Earned on Accumulated Cash from Chapter 11:

Interest earned on cash accumulated during the chapter 11 case, which would not have been earned but for the bankruptcy proceeding, should be reported as a reorganization item.

 

FORM MOR-2 CONT'D

(04/07)

 

 

 

 

In re: Axion Recycled Plastics Incorporated   Case No.: 15-12417
Debtor   Reporting Period: February 2016

 

BALANCE SHEET

 

The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be classified separately from postpetition obligations.

 

   BOOK VALUE AT END OF   BOOK VALUE ON 
ASSETS  CURRENT REPORTING MONTH   PETITION DATE 
CURRENT ASSETS          
Unrestricted Cash and Equivalents  $-   $- 
Restricted Cash and Cash Equivalents (see continuation sheet)          
Accounts Receivable (Net)          
Notes Receivable          
Inventories          
Prepaid Expenses  NO ACTIVITY 
Professional Retainers          
Other Current Assets (attach schedule)          
TOTAL CURRENT ASSETS  $    $  
PROPERTY AND EQUIPMENT          
Real Property and Improvements          
Machinery and Equipment          
Furniture, Fixtures and Office Equipment          
Leasehold Improvements          
Vehicles          
Less Accumulated Depreciation          
TOTAL PROPERTY & EQUIPMENT  $    $  
OTHER ASSETS          
Loans to Insiders*          
Other Assets (attach schedule)          
TOTAL OTHER ASSETS  $    $  
           
TOTAL ASSETS  $    $  

 

   BOOK VALUE AT END OF   BOOK VALUE ON 
LIABILITIES AND OWNER EQUITY  CURRENT REPORTING MONTH   PETITION DATE 
LIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition)          
Accounts Payable          
Taxes Payable (refer to FORM MOR-4)          
Wages Payable          
Notes Payable          
Rent / Leases - Building/Equipment          
Secured Debt / Adequate Protection Payments          
Professional Fees          
Amounts Due to Insiders*          
Other Postpetition Liabilities (attach schedule)          
TOTAL POSTPETITION LIABILITIES  $    $  
LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)          
Secured Debt          
Priority Debt          
Unsecured Debt          
TOTAL PRE-PETITION LIABILITIES  $    $  
           
TOTAL LIABILITIES  $    $  
OWNER EQUITY          
Capital Stock          
Additional Paid-In Capital          
Partners' Capital Account          
Owner's Equity Account          
Retained Earnings - Pre-Petition          
Retained Earnings - Postpetition          
Adjustments to Owner Equity (attach schedule)          
Postpetition Contributions (Distributions) (Draws) (attach schedule)          
NET OWNER EQUITY  $    $  
           
TOTAL LIABILITIES AND OWNERS' EQUITY  $    $  

 

*"Insider" is defined in 11 U.S.C. Section 101(31).

 

FORM MOR-3

(04/07)

 

 

 

 

In re: Axion Recycled Plastics Incorporated   Case No.: 15-12417
Debtor   Reporting Period: February 2016

 

BALANCE SHEET - continuation sheet

 

    BOOK VALUE AT END OF   BOOK VALUE ON
ASSETS   CURRENT REPORTING MONTH   PETITION DATE
Other Current Assets        
         
         
         
    NO ACTIVITY
         
         
Other Assets        
         
         
         
         
         
         
    BOOK VALUE AT END OF   BOOK VALUE ON
LIABILITIES AND OWNER EQUITY   CURRENT REPORTING MONTH   PETITION DATE
Other Postpetition Liabilities        
         
         
         
         
         
         
Adjustments to Owner Equity        
         
         
         
         
         
         
Postpetition Contributions (Distributions) (Draws)        
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         

 

Restricted Cash is cash that is restricted for a specific use and not available to fund operations. Typically, restricted cash is segregated into a separate account, such as an escrow account.

 

FORM MOR-3 CONT'D

(04/07)

 

 

 

 

In re: Axion Recycled Plastics Incorporated   Case No.: 15-12417
Debtor   Reporting Period: February 2016

 

STATUS OF POSTPETITION TAXES

 

The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero.

Attach photocopies of IRS Form 6123 or payment receipt to verify payment or deposit of federal payroll taxes.

Attach photocopies of any tax returns filed during the reporting period.

 

    Beginning   Amount               Ending
    Tax   Withheld or   Amount   Date   Check No.   Tax
    Liability   Accrued   Paid   Paid   or EFT   Liability
Federal                        
Withholding                        
FICA-Employee                        
FICA-Employer                        
Unemployment       NO ACTIVITY        
Income                        
Other:_________________                        
Total Federal Taxes                        
State and Local                        
Withholding                        
Sales                        
Excise                        
Unemployment                        
Real Property                        
Personal Property                        
Other:_________________                        
Total State and Local                        
Total Taxes                        

 

SUMMARY OF UNPAID POSTPETITION DEBTS

 

Attach aged listing of accounts payable.

 

       Number of Days Past Due     
   Current   0-30   31-60   61-90   Over 90   Total 
Accounts Payable                           $- 
Wages Payable                           $- 
Taxes Payable                           $- 
Rent/Leases-Building                           $- 
Rent/Leases-Equipment                           $- 
Secured Debt/Adequate Protection Payments                           $- 
Professional Fees                           $- 
Amounts Due to Insiders*                           $- 
Other:__________________________                           $- 
Other:__________________________                           $- 
Total Postpetition Debts                           $- 

 

Explain how and when the Debtor intends to pay any past-due postpetition debts.

 

*"Insider" is defined in 11 U.S.C. Section 101(31).

 

FORM MOR-4

(04/07)

 

 

 

 

In re: Axion Recycled Plastics Incorporated   Case No.: 15-12417
Debtor   Reporting Period: February 2016

 

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

 

Accounts Receivable Reconciliation     Amount 
Total Accounts Receivable at the beginning of the reporting period     $-      
+ Amounts billed during the period     $-      
- Amounts collected during the period  NO ACTIVITY          
Total Accounts Receivable at the end of the reporting period     $-      
              
Accounts Receivable Aging     Amount 
0 - 30 days old     $-      
31 - 60 days old     $-      
61 - 90 days old     $-      
91+ days old     $-      
Total Accounts Receivable     $-      
Amount considered uncollectible (Bad Debt)     $-      
Accounts Receivable (Net)     $-      

 

DEBTOR QUESTIONNAIRE

 

Must be completed each month  Yes  No
1. Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below.     No
2. Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below.     No
3. Have all postpetition tax returns been timely filed? If no, provide an explanation below.  Yes   
4. Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below.  Yes (a)   
5. Has any bank account been opened during the reporting period? If yes, provide documentation identifying the opened account(s). If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.     No

 

(a) - no employees employed under this debtor, but all employees for related debtor have all coverages in place.

 

FORM MOR-5

(04/07)