EX-99.1 2 ex991_june2016mor.htm EXHIBIT 99.1 Exhibit


Exhibit 99.1
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Molycorp, Inc., et al., Debtors1
Case No. 15-11357 (CSS)
 
Reporting Period: June 2016
MONTHLY OPERATING REPORT
File with Court and submit copy to United States Trustee within 20 days after end of month.
REQUIRED DOCUMENTS
 
Form No.
Document Attached
Explanation Attached
Affidavit/Supplement Attached
Schedule of Cash Receipts and Disbursements
 
MOR-1
X
 
 
Bank Reconciliation (or copies of debtor's bank reconciliations)
 
MOR-1a
X
 
 
Schedule of Professional Fees Paid
 
MOR-1b
X
 
 
Copies of bank statements
 
 
 
X
 
Cash disbursements journals
 
 
 
 
 
Statement of Operations
 
MOR-2
X
 
 
Balance Sheet
 
MOR-3
X
 
 
Status of Postpetition Taxes
 
MOR-4
X
 
 
Copies of IRS Form 6123 or payment receipt
 
 
 
 
 
Copies of tax returns filed during reporting period
 
 
 
 
 
Summary of Unpaid Postpetition Debts
 
MOR-4
X
 
 
Listing of aged accounts payable
 
MOR-4
X
 
 
Accounts Receivable Reconciliation and Aging
 
MOR-5
X
 
 
Debtor Questionnaire
 
MOR-5
X
 
 
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.
___________________________
 
___________________________
 
 
Signature of Debtor
 
Date
 
 
 
___________________________
 
___________________________
 
 
Signature of Joint Debtor
 
Date
 
 
 
/s/ Michael F. Doolan
 
July 28, 2016
 
 
Signature of Authorized Individual*
 
Date
 
 
 
Michael F. Doolan
 
Executive Vice President and Chief Financial Officer
Printed Name of Authorized Individual
 
Title of Authorized Individual
 
 
 
 
 
 
 
1 On May 2, 2016, a chapter 11 trustee assumed oversight of the chapter 11 cases of six affiliates of the Debtors that were previously jointly administered with the Debtors’ chapter 11 cases, but are now separately jointly administered under Case No. 15-11371 (CSS). The monthly operating reports for the entirety of June 2016 have been or will be separately filed in such six cases by the chapter 11 trustee.
 
 
 
 
 
 
* 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.

1


General Notes to the Monthly Operating Report ("MOR")

The Chapter 11 Cases

On June 25, 2015 (the "Petition Date"), Molycorp, Inc. (the “Company”), certain of its direct and indirect wholly owned domestic subsidiaries and certain of its foreign subsidiaries in Canada, Barbados and Luxembourg (collectively with the Company, the “Debtors”) each commenced a case (collectively, the “Chapter 11 Cases”) by filing a voluntary petition for relief under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Court”). The Debtors are continuing in possession of their properties and are managing their businesses, as debtors-in-possession, in accordance with the applicable provisions of the Bankruptcy Code and orders of the Court. The Company’s operating subsidiaries in Hong Kong, China, Thailand, Sri Lanka, Japan, Korea, Germany, United Kingdom, Estonia and Singapore are not Debtors under the Chapter 11 Cases. In addition, the Company’s majority owned joint venture in Quapaw, Oklahoma, is not a Debtor under the Chapter 11 Cases. The Chapter 11 Cases are styled In re Molycorp, Inc., et al, U.S. Bankruptcy Court, District of Delaware, Case No. 15-11357.
Although the Chapter 11 Cases triggered defaults for certain of the Debtors’ debt obligations, creditors are stayed from taking any actions as a result of such defaults. Substantially all of the Debtors' pre-petition liabilities are subject to settlement under a reorganization plan. As a result of the Chapter 11 Cases, the realization of assets and the satisfaction of liabilities are subject to uncertainty. The Debtors, operating as debtors-in-possession under the Bankruptcy Code, may, subject to approval of the Court, sell or otherwise dispose of assets and liquidate or settle liabilities for amounts other than those reflected in certain financial information herein disclosed. In addition, a confirmed reorganization plan or other arrangement may materially change the amounts and classifications of assets and liabilities herein disclosed.
The U.S. Trustee for the District of Delaware (the "U.S. Trustee") has appointed an official committee of unsecured creditors (the “UCC”). The UCC is organized to represent the interests of all creditors that have unsecured claims against the Debtors. The UCC and its legal representatives have a right to be heard on all matters affecting the Debtors that come before the Court. There can be no assurance that the UCC will support the Debtors' positions on matters to be presented to the Court in the future or on any reorganization plan, once proposed. This could materially change the amounts and classifications of assets and liabilities herein disclosed.
Debtor-In-Possession Financing
On July 2, 2015, the Company received approval from the Court, pursuant to an interim order, to borrow an aggregate of $22.0 million in interim debtor-in-possession financing provided by an affiliate of Oaktree Capital Management ("Oaktree"). On July 24, 2015, the Court, pursuant to a final order, approved a Secured Superpriority Debtor-In-Possession Credit Agreement between the Company, Oaktree and other lenders for an additional aggregate of $113.4 million. For more information, readers are referred to the Company's report on Form 10-Q for the quarterly period ended June 30, 2015 filed with the Securities and Exchange Commission on August 17, 2015.
Basis of presentation
The financial statements and supplemental information contained herein are unaudited, limited in scope, cover a limited time period, and have been prepared solely for the purpose of complying with the monthly reporting requirements for the Debtors, as set forth by the Court, and is in a format intended to meet the requirements for the Debtors, as set forth by the U.S. Trustee.
Except for cash receipts and disbursements, the financial statements and supplemental information contained herein are prepared on an accrual basis. However, this MOR is not prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and does not include all of the information and footnotes required by GAAP. Therefore, there can be no assurance that the financial information presented herein is complete and readers are strongly cautioned not to place undue reliance on the MOR. The unaudited financial statements herein included have been derived from the books and records of the Debtors. As a result, certain transactions that are not identified in the normal course of business in the Debtors’ books and records may not be included in this MOR. The information furnished in this report primarily includes normal recurring adjustments but not all the adjustments that would typically be made for the quarterly and annual consolidated financial statements to be in accordance with GAAP. Furthermore, the monthly financial information contained herein has not been subjected to the same level of accounting review and testing that the Debtors apply in the preparation of their quarterly and annual consolidated financial information in accordance with GAAP. Accordingly, upon the application of such procedures, the Debtors believe that the financial information may be subject to change, and any changes could be material. The results of operations contained herein are not necessarily indicative of results that may be expected for any other period or for the full year and may not necessarily reflect the consolidated results of operations and financial position of the Debtors in the future.



2


UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Molycorp, Inc., et al., Debtors
Case No. 15-11357 (CSS)
MOR-1
Reporting Period: June 2016
SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
 
 
 
 
 
 
 
 
 
 
1 of 2
Debtors
Magnequench International Inc
Molycorp Metals & Alloys
Molycorp Rare Metals (Utah) Inc.
Molycorp Minerals Canada ULC
Molycorp Chemical & Oxide Inc.
Molycorp Inc.
Magnequench Ltd.
NEO International Corp.
Molycorp Rare Metals Holding Inc.
MCP Canada Ltd Partnership
Molycorp Luxembourg Hldgs Sarl
MCP Exchangeco Inc.
MCP Callco ULC
Case No.
15-11360
15-11369
15-11373
15-11370
15-11367
15-11357
15-11361
15-11374
15-11372
15-11365
15-11368
15-11366
15-11363
Country
USA
USA
USA
Canada
USA
USA
Barbados
Barbados
USA
Canada
Luxembourg
Canada
Canada
USD in 000s
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Activity
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash Receipts
 
 
 
 
 
 
 
 
 
 
 
 
 
Resources
—

—

—

—

—

—

—

—

—

—

—

—

—

Rare Metals
—

—

362

—

—

—

—

—

—

—

—

—

—

Magnetic Materials & Alloys
3,694

—

—

—

—

—

—

—

—

—

—

—

—

Chemicals & Oxides
—

—

—

—

3,475

—

—

—

—

—

—

—

—

Other receipts
—

—

88

20

15

—

—

—

—

—

—

—

—

Total Operating Cash Receipts
3,694

—

450

20

3,490

—

—

—

—

—

—

—

—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash Disbursements
 
 
 
 
 
 
 
 
 
 
 
 
 
Payroll
(399
)
—

(84
)
(481
)
(912
)
—

—

(36
)
—

(12
)
—

—

—

Contract labor
—

—

—

—

—

—

—

—

—

—

—

—

—

Raw material payments
—

—

(33
)
—

—

—

—

—

—

—

—

—

—

Reagents & chemicals
(28
)
—

—

(18
)
—

—

—

—

—

—

—

—

—

Transportation & shipping
(4
)
—

(3
)
—

—

—

—

—

—

—

—

—

—

Other production costs
—

—

(18
)
(53
)
—

—

—

—

—

—

—

—

—

Repairs & maintenance (non-CapEx)
—

—

(2
)
(9
)
—

—

—

—

—

—

—

—

—

Professional fees
—

—

—

—

—

(874
)
—

—

—

—

—

—

—

Rent and operating leases
(6
)
—

—

(33
)
—

(22
)
—

—

—

—

—

—

—

Taxes
—

—

—

—

—

—

—

—

—

—

—

—

—

Insurance
(19
)
—

—

—

—

(173
)
—

—

—

—

—

—

—

Utilities
—

—

(5
)
(10
)
—

—

—

—

—

—

—

—

—

Other disbursements
(15
)
—

(1
)
(192
)
(187
)
(21
)
—

(30
)
—

(6
)
—

—

—


3


Total Operating Cash Disbursements
(471
)
—

(145
)
(796
)
(1,099
)
(1,090
)
—

(66
)
—

(18
)
—

—

—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Cash Flow - Operating
3,223

—

305

(776
)
2,391

(1,090
)
—

(66
)
—

(18
)
—

—

—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Intercompany
 
 
 
 
 
 
 
 
 
 
 
 
 
Net intercompany - operating
(1,763
)
—

(7
)
(58
)
426

—

—

—

—

1,728

—

—

—

Net intercompany - debt & equity
—

—

—

6,824

—

—

—

—

—

—

—

—

—

Net investment & JV funding
—

—

—

—

—

—

—

—

—

—

—

—

—

Net Intercompany
(1,763
)
—

(7
)
6,766

426

—

—

—

—

1,728

—

—

—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-Operating Activity
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash Receipts
—

—

—

—

—

—

—

—

—

—

—

—

—

3rd-party loan proceeds
—

—

—

—

—

—

—

—

—

—

—

—

—

Asset sales & other receipts
—

—

—

—

—

—

—

—

—

—

—

—

—

Total Non-Operating Cash Receipts
—

—

—

—

—

—

—

—

—

—

—

—

—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash Disbursements
 
 
 
 
 
 
 
 
 
 
 
 
 
3rd-party loan repayments
—

—

—

—

—

—

—

—

—

—

—

—

—

Interest
—

—

—

—

—

(840
)
—

—

—

—

—

—

—

Capital expenditures
—

—

—

—

—

—

—

—

—

—

—

—

—

Capital lease & other
—

—

—

—

—

—

—

—

—

—

—

—

—

Reorganization professional fees
—

—

—

—

—

(4,869
)
—

—

—

—

—

—

—

Total Non-Operating Cash Disbursements
—

—

—

—

—

(5,709
)
—

—

—

—

—

—

—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Cash Flow - Non-Operating
—

—

—

—

—

(5,709
)
—

—

—

—

—

—

—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Net Increase (Decrease) in Cash
$
1,460

$
—

$
298

$
5,990

$
2,817

$
(6,798
)
$
—

$
(66
)
$
—

$
1,710

—

—

—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning Cash Balance - Book
$
11,405

$
4,768

$
2,069

$
3,670

$
9,532

$
29,211

$
149

$
282

$
868

$
1,571

$
30

$
6

$
5

Total cash receipts
3,694

—

450

20

3,490

—

—

—

—

—

—

—

—

Total cash disbursements
(471
)
—

(145
)
(796
)
(1,099
)
(6,798
)
—

(66
)
—

(18
)
—

—

—

Net intercompany
(1,763
)
—

(7
)
6,766

426

—

—

—

 m

1,728

—

—

—

Ending Cash Balance - Book - Debtors
$
12,865

$
4,768

$
2,367

$
9,661

$
12,349

$
22,413

$
149

$
216

$
868

$
3,281

$
30

$
6

$
5


4


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
DISBURSEMENTS SOLELY FOR PURPOSE OF CALCULATING U.S. TRUSTEE QUARTERLY FEES:
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Cash Disbursements (Excluding Reorg Pro Fees)
(490
)
—

(145
)
(821
)
(1,099
)
(1,929
)
—

(66
)
—

(89
)
—

—

—

Allocated - Reorganization Professional Fees
(514
)
—

(152
)
(861
)
(1,153
)
(2,025
)
—

(69
)
—

(94
)
—

—

—

Total Disbursements for Calculating U.S. Trustee Quarterly Fees
(1,005
)
—

(297
)
(1,682
)
(2,252
)
(3,954
)
—

(136
)
—

(183
)
—

—

—



















5


UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Molycorp, Inc., et al., Debtors
Case No. 15-11357 (CSS)
MOR-1
Reporting Period: June 2016
SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
Continuation Sheet for MOR-1
 
 
 
 
 
 
2 of 2
Debtors
Magnequench Inc.
MCP Canada Holdings ULC
 GRAND
Case No.
15-11359
15-11364
 TOTAL
Country
USA
Canada
 
USD in 000s
 
 
 
 
 
 
 
Operating Activity
 
 
 
Cash Receipts
 
 
 
Resources
$
—

$
—

$
—

Rare Metals
—

—

362

Magnetic Materials & Alloys
—

—

3,694

Chemicals & Oxides
—

—

3,475

Other receipts
—

—

124

Total Operating Cash Receipts
—

—

7,654

 
 
 
 
Cash Disbursements
 
 
 
Payroll
—

—

(1,924
)
Contract labor
—

—

—

Raw material payments
—

—

(33
)
Reagents & chemicals
—

—

(46
)
Transportation & shipping
—

—

(7
)
Other production costs
—

—

(71
)
Repairs & maintenance (non-CapEx)
—

—

(11
)
Professional fees
—

—

(874
)
Rent and operating leases
—

—

(61
)
Taxes
—

—

—

Insurance
—

—

(192
)
Utilities
—

—

(15
)
Other disbursements
—

—

(452
)
Total Operating Cash Disbursements
—

—

(3,685
)
 
 
 
 

6


Net Cash Flow - Operating
—

—

3,969

 
 
 
 
Intercompany
 
 
 
Net intercompany - operating
—

—

326

Net intercompany - debt & equity
—

—

6,824

Net investment & JV funding
—

—

—

Net Intercompany
—

—

7,150

 
 
 
 
Non-Operating Activity
 
 
 
Cash Receipts
—

—

—

3rd-party loan proceeds
—

—

—

Asset sales & other receipts
—

—

—

Total Non-Operating Cash Receipts
—

—

—

 
 
 
 
Cash Disbursements
 
 
 
3rd-party loan repayments
—

—

—

Interest
—

—

(840
)
Capital expenditures
—

—

—

Capital lease & other
—

—

—

Reorganization professional fees
—

—

(4,869
)
Total Non-Operating Cash Disbursements
—

—

(5,709
)
 
 
 
 
Net Cash Flow - Non-Operating
—

—

(5,709
)
 
 
 
 
Total Net Increase (Decrease) in Cash
$
—

$
—

$
5,411

 
 
 
 
Beginning Cash Balance - Book
$
—

$
5

$
63,572

Total cash receipts
—

—

7,654

Total cash disbursements
—

—

(9,393
)
Net intercompany
—

—

7,150

Ending Cash Balance - Book - Debtors
$
—

$
5

$
68,983

 
 
 
 
 
 
 
 
DISBURSEMENTS SOLELY FOR PURPOSE OF CALCULATING U.S. TRUSTEE QUARTERLY FEES:
 
 
 
Total Cash Disbursements (Excluding Reorg Pro Fees)
—

—

(4,640
)
Allocated - Reorganization Professional Fees
—

—

(4,869
)
Total Disbursements for Calculating U.S. Trustee Quarterly Fees
—

—

(9,508
)





7


UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Molycorp, Inc., et al., Debtors
Case No. 15-11357 (CSS)
MOR-1a
Reporting Period: June 2016
BANK RECONCILIATIONS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1 of 5

Debtor
 
 
Molycorp Inc.
Case No.
 
 
15-11357
 
 
 
Operating
Others
 
 
#XXXXXX8924
WF USD account
#XXX-XXXXXX-070
HSBC USD account
#XXX-XXXXXX-001
HSBC CAD account
#XXXX7147
WF Securities USD account
#XXXXXX5228
WF USD account
#XXXXXX-000
Wilmington Trust USD account
#XXXXX6000
USBank USD account
#XXXXXX4705
WF Securities USD account
BALANCE PER BOOKS
Foreign Currency
 
—
 
—
 
5,099.11
 
—
 
—
 
—
 
—
 
—
 
 
USD or USD equivalent
 
$
266,400.51
 
$
5,063.04
 
$
3,945.46
 
$
3,002,747.46
 
$
40,614.00
 
$
17,299,600.68
 
$
250,000.00
 
$
1,758,679.22
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BANK BALANCE
 
 
30-Jun-16
291,469.31

30-Jun-16
5,063.04

30-Jun-16
5,099.11

30-Jun-16
3,002,747.46

30-Jun-16
40,614.00

30-Jun-16
17,299,600.68

30-Jun-16
250,000.00

30-Jun-16
1,758,679.22

(+) DEPOSITS IN TRANSIT (ATTACH LIST)
 
 
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

(-) OUTSTANDING CHECKS (ATTACH LIST)
 
 
 
(25,068.80
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

OTHER (ATTACH EXPLANATION)
 
 
 
 
 
—

 
—

 
—

 
—

 
—

 
—

 
—

ADJUSTED BANK BALANCE IN FOREIGN CURRENCY*
 
 
 
 
 
 
 
5,099.11

 
 
 
 
 
 
 
 
 
 
ADJUSTED BANK BALANCE IN USD *
 
 
 
266,400.51

 
5,063.04

 
3,945.46

 
3,002,747.46

 
40,614.00

 
17,299,600.68

 
250,000.00

 
1,758,679.22

* Adjusted bank balance must equal
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
balance per books
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
DEPOSITS IN TRANSIT
 
 
Date
Amount
Date
Amount
Date
Amount
Date
Amount
Date
Amount
Date
Amount
Date
Amount
Date
Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CHECKS OUTSTANDING
 
 
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
 
 
 
12299
1,395.00

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12327
4,733.16

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12328
20.24

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12325
10,525.83

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12323
6,270.00

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12324
273.68

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12326
1,850.89

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OTHER
 
 
Explanation
Amount
Explanation
Amount
Explanation
Amount
Explanation
Amount
Explanation
Amount
Explanation
Amount
Explanation
Amount
Explanation
Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


8


BANK RECONCILIATIONS
Continuation Sheet for MOR-1a
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2 of 5

Debtor
 
 
Magnequench International, Inc.
 
Magnequench Limited
Case No.
 
 
15-11360
 
15-11361
 
 
 
Operating
 
Operating
 
 
#XXXXXX6057
WF USD account
#XXXXXX6462
PNC USD account
#XXXXXX6489
PNC USD account
#XXX9633
Sumitomo Mitsui JPY account
#XXX8704
The Bank of Tokyo Mitsubishi Bank JPY account
 
#XXXXXXXX3673
RBC USD account
#XXXXXXXX6849
RBC BBD account
#XXXXXX0228
WF USD account
BALANCE PER BOOKS
Foreign Currency
 
 
—
 
—
 
                            3,361,160.00
 
                        1,226,087.00
 
 
—
 
                                 32,253.84
 
—
 
 
USD or USD equivalent
 
$
12,615,525.97
 
$
103,246.47
 
$
1,007.40
 
$
32,569.38
 
$
11,880.69
 
 
$
127,516.23
 
$
16,126.92
 
$
5,000.00
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BANK BALANCE
 
 
30-Jun-16
12,644,723.95

30-Jun-16
103,246.47

30-Jun-16
1,007.40

30-Jun-16
3,361,160.00

30-Jun-16
1,226,087.00

 
30-Jun-16
127,516.23

30-Jun-16
32,253.84

30-Jun-16
5,000.00

(+) DEPOSITS IN TRANSIT (ATTACH LIST)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(-) OUTSTANDING CHECKS (ATTACH LIST)
 
 
 
(22,586.45
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OTHER (ATTACH EXPLANATION)
 
 
 
(6,611.53
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ADJUSTED BANK BALANCE IN FOREIGN CURRENCY*
 
 
 
 
 
 
 
 
 
3,361,160.00

 
1,226,087.00

 
 
 
 
32,253.84

 
 
ADJUSTED BANK BALANCE IN USD *
 
 
 
12,615,525.97

 
103,246.47

 
1,007.40

 
32,569.38

 
11,880.69

 
 
127,516.23

 
16,126.92

 
5,000.00

* Adjusted bank balance must equal
 
 
 
—

 
—

 
—

 
—

 
—

 
 
—

 
—

 
—

balance per books
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
DEPOSITS IN TRANSIT
 
 
Date
Amount
Date
Amount
Date
Amount
Date
Amount
Date
Amount
 
Date
Amount
Date
Amount
Date
Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CHECKS OUTSTANDING
 
 
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
 
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
 
 
 
168460
2,017.08

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
168461
825.59

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
168462
1,128.69

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
168464
16,742.06

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
168467
1,873.03

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OTHER
 
 
Explanation
Amount
Explanation
Amount
Explanation
Amount
Explanation
Amount
Explanation
Amount
 
Explanation
Amount
Explanation
Amount
Explanation
Amount
 
 
 
401K payment
6,611.53

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

9


BANK RECONCILIATIONS
Continuation Sheet for MOR-1a
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3 of 5

Debtor
 
 
MCP Callco ULC
 
MCP Canada Holdings ULC
 
MCP Canada Limited Partnership
 
MCP Exchangeco Inc.
 
Molycorp Chemicals & Oxides, Inc.
Case No.
 
 
15-11363
 
15-11364
 
15-11365
 
15-11366
 
15-11367
 
 
 
Operating
 
Operating
 
Operating
 
Operating
 
Operating
 
 
#XXXXXX5681
WF USD account
 
#XXXXXX5731
WF USD account
 
#XXXXXXXX8959
RBC USD account
#XXXXXX5715
WF USD account
 
#XXXXXX5707
WF USD account
 
#XXXXXX6065
WF USD account
#XXXXXX-9969
PNC USD account
BALANCE PER BOOKS
Foreign Currency
 
—
 
 
—
 
 
—
 
—
 
 
—
 
 
—
 
—
 
 
USD or USD equivalent
 
$
5,000.00
 
 
$
5,000.00
 
 
$
110,030.63
 
$
3,171,259.3
 
 
$
5,960.00
 
 
$
12,191,074.15
 
$
16,185.42
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BANK BALANCE
 
 
30-Jun-16
5,000.00

 
30-Jun-16
5,000.00

 
30-Jun-16
110,030.63

30-Jun-16
3,171,259.30

 
30-Jun-16
5,960.00

 
30-Jun-16
12,275,498.31

30-Jun-16
16,185.42

(+) DEPOSITS IN TRANSIT (ATTACH LIST)
 
 
 
—

 
 
—

 
 
 
 
 
 
 
—

 
 
 
 
 
(-) OUTSTANDING CHECKS (ATTACH LIST)
 
 
 
—

 
 
—

 
 
—

 
 
 
 
—

 
 
(84,424.16
)
 
 
OTHER (ATTACH EXPLANATION)
 
 
 
—

 
 
—

 
 
 
 
 
 
 
—

 
 
 
 
 
ADJUSTED BANK BALANCE IN FOREIGN CURRENCY*
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ADJUSTED BANK BALANCE IN USD *
 
 
 
5,000.00

 
 
5,000.00

 
 
110,030.63

 
3,171,259.30

 
 
5,960.00

 
 
12,191,074.15

 
16,185.42

* Adjusted bank balance must equal
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
balance per books
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
DEPOSITS IN TRANSIT
 
 
Date
Amount
 
Date
Amount
 
Date
Amount
Date
Amount
 
Date
Amount
 
Date
Amount
Date
Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CHECKS OUTSTANDING
 
 
Ck. #
Amount
 
Ck. #
Amount
 
Ck. #
Amount
Ck. #
Amount
 
Ck. #
Amount
 
Ck. #
Amount
Ck. #
Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5253
1,075.00

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5275
3,861.92

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5276
575.00

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5277
1,878.34

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5278
3,861.27

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5279
422.01

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5281
3,372.18

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5282
69,378.44

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OTHER
 
 
Explanation
Amount
 
Explanation
Amount
 
Explanation
Amount
Explanation
Amount
 
Explanation
Amount
 
Explanation
Amount
Explanation
Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 



10


BANK RECONCILIATIONS
Continuation Sheet for MOR-1a
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4 of 5

Debtor
 
Molycorp Luxembourg Holdings S.a.r.l
 
Molycorp Metals & Alloys, Inc.
 
Molycorp Minerals Canada ULC (Toronto)
 
Molycorp Minerals Canada ULC (Peterborough)
Case No.
 
15-11368
 
15-11369
 
15-11370
 
15-11370
 
 
Operating
 
Operating
 
Operating
 
Operating
Other
 
#XXXXXXXXXXXXXXXXXXXX 3010
ING USD account
 
#XXXXXX6077
WF USD account
#XXXXXX5961
WF USD account
 
#XXXXXXXX7180
RBC CAD account
#XXXXXXXX6849
RBC USD account
#XXXXXX5723
WF USD account
 
#XXX-610-5
RBC CAD account
#XXX-143-4
RBC USD account
#XXXXXXXX-610-5
RBC GIC USD account
BALANCE PER BOOKS
Foreign Currency
—
 
 
—
 
—
 
 
                               818,319.71
 
 
 
 
                              235,805.55
 
—
 
                            500,000.00
 
 
USD or USD equivalent
$
29,904.01
 
 
$
4,802,775.99
 
$
—
 
 
$
633,178.37
 
$
7,268,485.61
 
$
869,973.38
 
 
$
182,455.55
 
$
242,749.46
 
$
386,877.13
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
BANK BALANCE
 
30-Jun-16
11,027.36

 
30-Jun-16
4,802,775.99

30-Jun-16
—

 
30-Jun-16
825,647.58

30-Jun-16
7,268,485.61

30-Jun-16
869,973.38
 
30-Jun-16
311,473.84

30-Jun-16
242,749.46

30-Jun-16
500,000.00

(+) DEPOSITS IN TRANSIT (ATTACH LIST)
 
 
—

 
 
—

 
—

 
 
 
 
—

 
—

 
 
 
 
 
 
 
(-) OUTSTANDING CHECKS (ATTACH LIST)
 
 
—

 
 
 
 
—

 
 
(7,327.87
)
 
—

 
—

 
 
(75,668.29
)
 
 
 
—

OTHER (ATTACH EXPLANATION)
 
 
18,876.65

 
 
—

 
—

 
 
—

 
—

 
—

 
 
 
 
 
 
 
ADJUSTED BANK BALANCE IN FOREIGN CURRENCY*
 
 
 
 
 
 
 
—

 
 
818,319.71

 
 
 
 
 
 
235,805.55

 
 
 
500,000.00

ADJUSTED BANK BALANCE IN USD *
 
 
29,904.01

 
 
4,802,775.99

 
—

 
 
633,178.37

 
7,268,485.61

 
869,973.38

 
 
182,455.55

 
242,749.46

 
386,877.13

* Adjusted bank balance must equal
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
balance per books
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
DEPOSITS IN TRANSIT
 
Date
Amount
 
Date
Amount
Date
Amount
 
Date
Amount
Date
Amount
Date
Amount
 
Date
Amount
Date
Amount
Date
Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CHECKS OUTSTANDING
 
Ck. #
Amount
 
Ck. #
Amount
Ck. #
Amount
 
Ck. #
Amount
Ch. #
Amount
Ch. #
Amount
 
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
 
 
 
 
 
 
 
 
 
 
17751
2,958.38

 
 
 
 
 
Payroll
55,489.47

 
 
 
 
 
 
 
 
 
 
 
 
 
 
17860
544.36

 
 
 
 
 
18535
60.00

 
 
 
 
 
 
 
 
 
 
 
 
 
 
17866
229.28

 
 
 
 
 
18537
1,457.37

 
 
 
 
 
 
 
 
 
 
 
 
 
 
17880
262.73

 
 
 
 
 
18541
6,161.55

 
 
 
 
 
 
 
 
 
 
 
 
 
 
17890
131.36

 
 
 
 
 
18542
536.75

 
 
 
 
 
 
 
 
 
 
 
 
 
 
17891
1,864.50

 
 
 
 
 
18543
7,809.08

 
 
 
 
 
 
 
 
 
 
 
 
 
 
17888
1,337.26

 
 
 
 
 
18548
1,382.82

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
18550
590.43

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
18551
178.86

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
18552
147.44

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
18553
526.19

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
18554
1,022.65

 
 
 
 

11


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
18555
84.83

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
18556
84.85

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
18557
136.00

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OTHER
 
Explanation
Amount
 
Explanation
Amount
Explanation
Amount
 
Explanation
Amount
Explanation
Amount
Explanation
Amount
 
Explanation
Amount
Explanation
Amount
Explanation
Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


12


BANK RECONCILIATIONS
Continuation Sheet for MOR-1a
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5 of 5

Debtor
 
 
Molycorp Rare Metals Holdings, Inc.
 
Molycorp Rare Metals (Utah), Inc.
 
Neo International Corp.
Case No.
 
 
15-11372
 
15-11373
 
15-11374
 
 
 
Operating
 
Operating
 
Operating
 
 
#XXXXXX5959
WF USD account
 
#XXXXXX5942
WF USD account
 
#XXXXXXXXX1239
RBC BDD account
#XXXXXXXX4715
RBC USD account
#XXXXXX0210
WF USD account
#XXXXXXXX3797
BoC RMB account
BALANCE PER BOOKS
Foreign Currency
 
—
 
 
—
 
 
                                 19,304.82
 
 
 
                              288,440.15
 
 
USD or USD equivalent
 
$
868,969.42
 
 
$
2,351,847.77
 
 
$
9,652.43
 
$
5,993.91
 
$
159,669.64
 
$
43,387.51
 
 
 
 
 
 
 
 
 
 
BANK BALANCE
 
 
30-Jun-16
868,969.42

 
30-Jun-16
2,363,951.23

 
30-Jun-16
   19,304.82

30-Jun-16
$
5,993.91

30-Jun-16
$
159,669.64

30-Jun-16
288,440.15

(+) DEPOSITS IN TRANSIT (ATTACH LIST)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
—

(-) OUTSTANDING CHECKS (ATTACH LIST)
 
 
 
—

 
 
(12,103.46
)
 
 
—

 
 
 
 
 
 
OTHER (ATTACH EXPLANATION)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ADJUSTED BANK BALANCE IN FOREIGN CURRENCY*
 
 
 
 
 
 
 
 
 
   19,304.82

 
 
 
 
 
288,440.15

ADJUSTED BANK BALANCE IN USD *
 
 
 
868,969.42

 
 
2,351,847.77

 
 
$
9,652.43

 
$
5,993.91

 
$
159,669.64

 
$
43,387.51

* Adjusted bank balance must equal
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
balance per books
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
DEPOSITS IN TRANSIT
 
 
Date
Amount
 
Date
Amount
 
Date
Amount
Date
Amount
Date
Amount
Date
Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CHECKS OUTSTANDING
 
 
Ck. #
Amount
 
Ck. #
Amount
 
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
Ck. #
Amount
 
 
 
 
 
 
31106
245.52

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
31303
127.80

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
31550
2,961.03

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
31558
7,582.92

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
31559
386.82

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
31560
689.39

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
31561
109.98

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

13


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
OTHER
 
 
Explanation
Amount
 
Explanation
Amount
 
Explanation
Amount
Explanation
Amount
Explanation
Amount
Explanation
Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Note to MOR-1a, Bank Statements
Due to the level of detailed records, all bank statements that were filed with the Court are not included in this MOR. Such information can be viewed on the Court's docket at www.deb.uscourts.gov or at https://cases.primeclerk.com/molycorp/.

14


UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Molycorp, Inc., et al., Debtors
Case No. 15-11357 (CSS)
MOR-1b
Reporting Period: June 2016
SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID
This schedule is to include all retained professional payments from case inception to current month
 
 
 
 
 
 
 
 
 
 
Payee
Period Covered
Amount
Approved
Payor
Check
Amount Paid
Year-To-Date
Number
Date
Fees
Expenses
Fees
Expenses
AlixPartners
Sep 1-Sep 30, 2015
289,578.48

Molycorp Inc.
WT000002631 $104,350.23
12/14/2015
269,260.40

20,318.08

 
 
AlixPartners
Oct 1-Oct 31, 2015
357,100.33

Molycorp Inc.
WT000002689
1/4/2016
318,692.40

38,407.93

 
 
AlixPartners
Jun 25-Sep 30,2015 (payment of holdback)
244,868.3

Molycorp Inc.
WT000002825
2/24/2016
244,868.30

 
 
 
AlixPartners **
Jun 25-Sep 30,2015 (reimbursement of expenses)
(1,835.61
)
Molycorp Inc.
WT000002825
2/24/2016
 
(1,835.61
)
 
 
AlixPartners
Nov 1-Nov 30,2015
366,030.59

Molycorp Inc.
WT000002848
3/3/2016
340,332.80

25,697.79

 
 
AlixPartners
Dec 1-Dec 31,2015
337,426.65

Molycorp Inc.
WT000002885
3/18/2016
318,892.40

18,534.25

 
 
AlixPartners
Jan 1-Jan 31,2016
251,966.23

Molycorp Inc.
WT000003059
5/4/2016
232,570.40

19,395.83

 
 
AlixPartners
Feb 1-Feb 29,2016
270,032.59

Molycorp Inc.
WT000003059
5/4/2016
252,194.40

17,838.19

 
 
AlixPartners
Oct 1- Dec 31,2015 (payment of holdback)
244,424.4

Molycorp Inc.
WT000003059
5/4/2016
244,424.40

 
2,221,235.50

138,356.46

 
 
 
 
 
 
 
 
 
 
Ashby & Geddes
Jul 9-Jul 31, 2015
110,677.72

Molycorp Inc.
WT000002469
10/22/2015
103,089.20

7,588.52

 
 
Ashby & Geddes
Aug 1-Aug 31, 2015
64,754.91

Molycorp Inc.
WT000002565
11/24/2015
59,218.46

5,536.45

 
 
Ashby & Geddes
Sep 1-Sep 30, 2015
59,366.25

Molycorp Inc.
WT000002629
12/14/2015
53,824.00

5,542.25

 
 
Ashby & Geddes
Oct 1-Oct 31,2015
46,021.33

Molycorp Inc.
WT000002764
2/3/2016
43,215.45

2,805.88

 
 
Ashby & Geddes
Nov 1-Nov 30,2015
74,733.79

Molycorp Inc.
WT000002804
2/3/2016
71,506.23

3,227.56

 
 
Ashby & Geddes
Jul 9-Sep 30,2015 (payment of holdback)
54,033.19

Molycorp Inc.
WT000002804
2/3/2016
54,033.19

 
 
 
Ashby & Geddes **
Jul 9-Sep 30,2015 (reimbursement of expense)
(720.8
)
Molycorp Inc.
WT000002804
2/3/2016
 
(720.80
)
 
 
Ashby & Geddes
Dec 1-Dec 31,2015
57,804.04

Molycorp Inc.
WT000002868
3/11/2016
53,105.92

4,698.12

 
 
Ashby & Geddes
Jan 1-Jan 31,2016
118,017.13

Molycorp Inc.
WT000002929
3/31/2016
102,524.30

15,492.83

 
 
Ashby & Geddes
Feb 1-Feb 29, 2016
57,369.8

Molycorp Inc.
WT000003014
4/22/2016
54,047.09

3,322.71

 
 
Ashby & Geddes
Oct 1-Dec 31,2015 (payment of holdback)
41,956.9

Molycorp Inc.
WT000003078
5/11/2016
41,956.90

 
 
 
Ashby & Geddes
Mar 1-Mar 31, 2016
61,401.06

Molycorp Inc.
WT000003143
6/2/2016
57,222.16

4,178.90

693,742.90

51,672.42


15


 
 
 
 
 
 
 
 
 
 
Berkeley Research Group LLC
Jul 8-Jul 31, 2015
297,078.46

Molycorp Inc.
WT000002472
10/22/2015
296,427.96

650.50

 
 
Berkeley Research Group LLC
Sep 1-Sep 30, 2015
364,098.49

Molycorp Inc.
WT000002687
12/31/2015
363,869.35

229.14

 
 
Berkeley Research Group LLC
Aug 1-Aug 31, 2015
378,311.46

Molycorp Inc.
WT000002701
1/7/2016
378,173.01

138.45

 
 
Berkeley Research Group LLC
Jul 8-Sep 30, 2015 (payment of holdback)
216,955.68

Molycorp Inc.
WT000002782
2/12/2016
216,955.68

 
 
 
Berkeley Research Group LLC
Oct 1-Nov 30,2015
724,003.27

Molycorp Inc.
WT000002941
4/6/2016
723,213.95

789.32

 
 
Berkeley Research Group LLC
Dec 1-Dec 31,2015
241,401.57

Molycorp Inc.
WT000002941
4/6/2016
241,342.06

59.51

 
 
Berkeley Research Group LLC
Sep 1-Sep 30,2015 (partial payment of holdback)
10,326.38

Molycorp Inc.
WT000002941
4/6/2016
10,326.38

 
 
 
Berkeley Research Group LLC
Jan 1-Jan 31,2016
393,435.9

Molycorp Inc.
WT000003155
6/9/2016
391,297.89

2,138.01

2,621,606.28

4,004.93

 
 
 
 
 
 
 
 
 
 
Direct Fee Review, LLC
Sep 8-Sep 30, 2015
1,584

Molycorp Inc.
WT000002613
12/9/2015
1,584.00

—

 
 
Direct Fee Review, LLC
Oct 1-Nov 30,2015
5,552

Molycorp Inc.
WT000002849
3/3/2016
5,552.00

 
 
 
Direct Fee Review, LLC
Dec 1-Dec 31,2015
9,664

Molycorp Inc.
WT000002849
3/3/2016
9,664.00

 
 
 
Direct Fee Review, LLC
Sep 8-Sep 30,2015 (payment of holdback)
396

Molycorp Inc.
WT000002849
3/3/2016
396.00

 
 
 
Direct Fee Review, LLC
Jan 1-Jan 31,2016
2,480

Molycorp Inc.
WT000002947
4/8/2016
2,480.00

 
 
 
Direct Fee Review, LLC
Feb 1-Feb 29,2016
3,376

Molycorp Inc.
WT000003094
5/13/2016
3,376.00

 
 
 
Direct Fee Review, LLC
Oct 1-Dec 31,2015 (payment of holdback)
3,804

Molycorp Inc.
WT000003094
5/13/2016
3,804.00

 
26,856.00

 
 
 
 
 
 
 
 
 
 
 
Jones Day
Jun 25-Jul 31, 2015
1,793,066.19

Molycorp Inc.
WT000002464
10/20/2015
1,336,777.62

27,881.07

 
 
Jones Day
Aug 1-Aug 31, 2015
666,584.38

Molycorp Inc.
WT000002532
11/17/2015
643,644.20

22,940.18

 
 
Jones Day
Sep 1-Sep 30, 2015
874,940.26

Molycorp Inc.
WT000002669
12/22/2015
866,431.60

8,508.66

 
 
Jones Day
Oct 1-Oct 31,2015
1,034,081.96

Molycorp Inc.
WT000002726
1/20/2016
1,023,985.00

10,096.96

 
 
Jones Day
Jun 25-Sep 30,2015 (payment of holdback)
813,280.58

Molycorp Inc.
WT000002779
2/11/2016
813,280.58

 
 
 
Jones Day
Nov 1-Nov 30,2015
1,262,668.96

Molycorp Inc.
WT000002867
3/11/2016
1,242,003.20

20,665.76

 
 
Jones Day
Dec 1-Dec 31,2015
841,398.99

Molycorp Inc.
WT000002884
3/18/2016
808,176.20

33,222.79

 
 
Jones Day
Jan 1-Jan 31,2016
1,099,788.99

Molycorp Inc.
WT000003087
5/11/2016
1,081,574.20

18,214.79

 
 
Jones Day
Oct 1-Dec 31,2015 (payment of holdback)
766,736.11

Molycorp Inc.
WT000003087
5/11/2016
766,736.11

 
 
 
Jones Day
Feb 1-Feb 29, 2016
1,347,960.76

Molycorp Inc.
WT000003165
6/14/2016
1,342,402.64

5,558.12

 
 
Jones Day
Mar 1-Mar 31, 2016
1,696,758.78

Molycorp Inc.
WT000003165
6/14/2016
1,689,030.80

7,727.98

11,614,042.15

154,816.31

 
 
 
 
 
 
 
 
 
 
KPMG
Jan 1-Jan 31, 2016
208,800.21

Molycorp Inc.
WT000003007
4/21/2016
200,255.62

8,544.59

 
 
KPMG
Oct 1-Dec 31,2015 (payment of holdback)
448,403.42

Molycorp Inc.
WT000003062
5/6/2016
448,403.42

 
 
 

16


KPMG
Feb 1-Feb 29, 2016
419,670.51

Molycorp Inc.
WT000003062
5/6/2016
383,530.18

36,140.33

 
 
KPMG
Mar 1-Mar 31, 2016
700,613.16

Molycorp Inc.
WT000003158
6/9/2016
672,634.46

27,978.70

1,704,823.68

72,663.62

 
 
 
 
 
 
 
 
 
 
Miller Buckfire
Jun 25-Jul 31, 2015
141,976.5

Molycorp Inc.
WT000002340
9/3/2015
140,000.00

1,976.50

 
 
Miller Buckfire
Jun 25-Jul 31, 2015
1,083,333.34

Molycorp Inc.
WT000002383
9/17/2015
1,083,333.34

 
 
 
Miller Buckfire
Aug 1-Aug 31, 2015
369,606.18

Molycorp Inc.
 
 
 
 
 
 
Miller Buckfire *
Sep 1-Sep 30, 2015
174,953.61

Molycorp Inc.
WT000002588
12/3/2015
9,166.67

353,978.94

 
 
Miller Buckfire
Oct 1-Oct 31, 2015
147,925.52

Molycorp Inc.
WT000002801
2/18/2016
140,000.00

7,925.52

 
 
Miller Buckfire
Nov 1-Nov 30, 2015
160,252.23

Molycorp Inc.
WT000002811
2/23/2016
140,000.00

20,252.23

 
 
Miller Buckfire
Jun 25-Sep 30,2015 (payment of holdback)
308,125

Molycorp Inc.
WT000002811
2/23/2016
308,125.00

 
 
 
Miller Buckfire **
Jun 25-Sep 30,2015 (reimbursement of expenses)
(3,286.93
)
Molycorp Inc.
WT000002811
2/23/2016
 
(5,486.37
)
 
 
Miller Buckfire
Dec 1-Dec 31, 2015
176,453.23

Molycorp Inc.
WT000002911
3/29/2016
140,000.00

36,453.23

 
 
Miller Buckfire
Jan 1-Jan 31, 2016
217,854.41

Molycorp Inc.
WT000003058
5/4/2016
140,000.00

77,854.41

 
 
Miller Buckfire
Oct 1-Dec 31,2015 (payment of holdback)
95,077.18

Molycorp Inc.
WT000003058
5/4/2016
95,077.18

 
 
 
Miller Buckfire
Feb 1-Feb 29, 2016
154,535.87

Molycorp Inc.
WT000003144
6/2/2016
140,000.00

14,535.87

 
 
Miller Buckfire
Mar 1-Mar 31, 2016
154,166.68

Molycorp Inc.
WT000003199
6/29/2016
140,000.00

14,166.68

2,475,702.19

521,657.01

 
 
 
 
 
 
 
 
 
 
Paul Hastings LLP
Jul 8-Jul 31, 2015
989,152.08

Molycorp Inc.
WT000002470
10/22/2015
968,948.00

20,204.08

 
 
Paul Hastings LLP
Aug 1-Aug 31, 2015
878,655.81

Molycorp Inc.
WT000002566
11/24/2015
858,962.80

19,693.01

 
 
Paul Hastings LLP
Sep 1-Sep 30, 2015
436,962.04

Molycorp Inc.
WT000002630
12/14/2015
416,629.69

20,332.35

 
 
Paul Hastings LLP
Jul 8-Sep 30, 2015 (payment of holdback)
554,830.32

Molycorp Inc.
WT000002759
1/29/2016
554,830.32

 
2,799,370.81

60,229.44

 
 
 
 
 
 
 
 
 
 
PJT Advisory Partners LP
Jul 8-Sep 30, 2015
312,903.22

Molycorp Inc.
WT000002678
12/22/2015
312,903.22

—

 
 
PJT Advisory Partners LP
Jul 8-Sep 30, 2015 (payment of holdback)
83,225.81

Molycorp Inc.
WT000002883
3/17/2016
83,225.81

 
 
 
PJT Advisory Partners LP
Oct 1 -Dec 31, 2015
360,000

Molycorp Inc.
WT000002930
3/31/2016
360,000.00

—

 
 
PJT Advisory Partners LP
Jan 1- Mar 31, 2016
373,358.5

Molycorp Inc.
WT000003166
6/14/2016
360,000.00

13,358.5

1,116,129.03

13,358.5

 
 
 
 
 
 
 
 
 
 
Prime Clerk (156c services)
Jul 1-Jul 31, 2015
222,699.93

Molycorp Inc.
WT000002339
9/3/2015
46,009.00

176,690.93

 
 
Prime Clerk (327a services)
Jun 25-Jul 31, 2015
2,468.4

Molycorp Inc.
WT000002304
9/28/2015
2,468.40

—

 
 
Prime Clerk (156c services)
Aug 1-Aug 31, 2015
161,588.4

Molycorp Inc.
WT000002428
10/6/2015
26,017.00

135,571.4

 
 
Prime Clerk (156c services)
Sep 1-Sep 30, 2015
107,697.33

Molycorp Inc.
WT000002488
10/26/2015
37,050.50

70,646.83

 
 
Prime Clerk (156c services)
Oct 1-Oct 31, 2015
62,965.75

Molycorp Inc.
WT000002612
12/9/2015
54,381.50

8,584.25

 
 
Prime Clerk (327a services)
Aug 1-Sep 30, 2015
23,219.2

Molycorp Inc.
WT000002677
12/22/2015
23,219.20

—

 
 
Prime Clerk (156c services)
Nov 1-Nov 30, 2015
118,279.02

Molycorp Inc.
WT000002665
12/1/2015
23,494.00

94,785.02

 
 

17


Prime Clerk (156c services)
Dec 1-Dec 31, 2015
29,078.46

Molycorp Inc.
WT000002762
2/5/2016
19,656.66

9,421.8

 
 
Prime Clerk (327a services)
Jun 25 - Sep 30, 2015 (payment of holdback)
6,421.9

Molycorp Inc.
WT000002832
2/26/2016
6,421.90

 
 
 
Prime Clerk (327a services)
Oct 1-Oct 31, 2015
1,602

Molycorp Inc.
WT000002832
2/26/2016
1,602.00

 
 
 
Prime Clerk (327a services)
Nov 1-Nov 30, 2015
1,164.8

Molycorp Inc.
WT000002832
2/26/2016
1,164.80

 
 
 
Prime Clerk (156c services)
Jan 1-Jan 31, 2016
162,870.98

Molycorp Inc.
WT000002832
2/26/2016
52,356.30

110,514.68

 
 
Prime Clerk (156c services)
Feb 1-Feb 29, 2016
375,746.93

Molycorp Inc.
WT000002910
3/29/2016
35,192.35

340,554.58

 
 
Prime Clerk (327a services)
Dec 1-Dec 31, 2015
2,683.6

Molycorp Inc.
WT000002910
3/29/2016
2,683.60

 
 
 
Prime Clerk (156c services)
Mar 1-Mar 31, 2016
439,992.47

Molycorp Inc.
WT000003005
4/21/2016
57,011.03

382,981.44

 
 
Prime Clerk (327a services)
Jan 1-Jan 31, 2016
4,568.08

Molycorp Inc.
WT000003005
4/21/2016
4,568.08

 
 
 
Prime Clerk (327a services)
Feb 1-Feb 29, 2016
22,084.04

Molycorp Inc.
WT000003093
5/13/2016
22,084.04

 
 
 
Prime Clerk (327a services)
Oct 1 - Dec 31, 2015 (payment of holdback)
         1,362.60
Molycorp Inc.
WT000003093
5/13/2016
1,362.60

 
 
 
Prime Clerk (156c services)
Apr 1-Apr 30, 2016
       81,097.23
Molycorp Inc.
WT000003122
5/26/2016
23,314.46

57,782.77

 
 
Prime Clerk (327a services)
Mar 1-Mar 31, 2016
       52,373.44
Molycorp Inc.
WT000003146
6/2/2016
52,373.44

—

492,430.86

1,387,533.70

 
 
 
 
 
 
 
 
 
 
Young Conway Stargatt & Taylor LLP
Jun 25-Jul 31, 2015
     294,881.54
Molycorp Inc.
WT000002403
9/28/2015
276,154

18,727.54

 
 
Young Conway Stargatt & Taylor LLP
Sep 1-Sep 30, 2015
       73,965.47
Molycorp Inc.
WT000002610
12/9/2015
71,355.2

2,610.27

 
 
Young Conway Stargatt & Taylor LLP
Nov1-Nov 30, 2015
       94,623.45
Molycorp Inc.
WT000002770
2/4/2016
92,892.4

1,731.05

 
 
Young Conway Stargatt & Taylor LLP
Jun 25-Sep 30, 2015(payment of holdback)
     100,845.91
Molycorp Inc.
WT000002770
2/4/2016
100,845.91

 
 
 
Young Conway Stargatt & Taylor LLP
Dec 1-Dec 31, 2015
       61,650.77
Molycorp Inc.
WT000002931
3/31/2016
60,064.8

1,585.97

 
 
Young Conway Stargatt & Taylor LLP
Jan 1-Jan 31, 2016
     142,590.27
Molycorp Inc.
WT000002949
4/8/2016
135,223.2

7,367.07

 
 
Young Conway Stargatt & Taylor LLP
Feb 1-Feb 29, 2016
       44,408.33
Molycorp Inc.
WT000003085
5/11/2016
41,715.6

2,692.73

 
 
Young Conway Stargatt & Taylor LLP
Oct 1-Dec 31, 2015(payment of holdback)
       57,771.80
Molycorp Inc.
WT000003085
5/11/2016
57,771.8

 
 
 
Young Conway Stargatt & Taylor LLP
Mar 1-Mar 31, 2016
     159,867.43
Molycorp Inc.
WT000003156
6/9/2016
150,315.2

9,552.23

986,338.11

44,266.86

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
* Miller Buckfire applied the Debtors’ unintentional overpayment of $175,901.68 on its first fee application to the August and September fees and expenses after the filing of the applicable certificates of no objection;
** Reflects a reduction of expenses allowed under the first interim fee application to expense amounts previously paid under the interim compensation order. Difference was netted against fees due and owing.
 
 
 
 
 
 
 
 
 
 

18


UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Molycorp, Inc., et al., Debtors
Case No. 15-11357 (CSS)
MOR-2
Reporting Period: June 2016

Note to MOR-2, Statement of Operations

All costs directly associated with the Chapter 11 Cases are reported as reorganization items. These costs include legal and other professional advisory fees and all adjustments made to the carrying amount of certain assets and adjustments made to pre-petition liabilities reflecting claims allowed by the Court.
COMBINED DEBTORS' STATEMENT OF OPERATIONS
 
 
 
 
 
 
 
 
 
1 of 4
 
 
 
 
 
 
 
 
 
 
 
Case No.
 15-11357
 15-11359
 15-11360
 15-11361
 15-11363
Debtor
Molycorp Inc.
Magnequench Inc.
Magnequench International Inc.
Magnequench Limited
MCP Callco ULC
 
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Revenues
 
 
 
 
 
 
 
 
 
 
External Sales - net
$
—

—

$
—

—

3,676,114

33,481,527

—

—

$
—

—

Sales to related parties
—

—

—

—

3,388,307

44,048,403

—

—

—

—

Total Revenue
—

—

—

—

7,064,421

77,529,930

—

—

—

—

 
 
 
 
 
 
 
 
 
 
 
Costs of sales
 
 
 
 
 
 
 
 
 
 
Costs excluding depreciation and amortization
—

—

—

—

6,711,161

69,417,289

—

—

—

—

Depreciation and amortization
—

—

—

—

8,319

99,820

—

—

—

—

Gross profit (loss)
—

—

—

—

344,941

8,012,821

—

—

—

—

 
 
 
 
 
 
 
 
 
 
 
Expenses
 
 
 
 
 
 
 
 
 
 
General & Administrative
337,775

1,289,622

—

—

292,512

2,158,501

403

1,003

—

—

Sales & Marketing
—

—

—

—

100,742

1,064,189

—

—

—

—

Insiders Compensation
87,500

87,500

—

—

37,148

633,485

—

—

—

—

Care and Maintenance
—

—

—

—

—

—

—

—

—

—

Depreciation and amortization
—

—

—

—

160,468

1,937,123

—

—

—

—

 - Accretion expense
—

—

—

—

—

—

—

—

—

—

Research and development
—

—

—

—

—

—

—

—

—

—

Revision in estimated ARO cash flows
—

—

—

—

—

—

—

—

—

—

Goodwill impairment & long lived assets
—

—

—

—

—

—

—

—

—

—

Total expenses
425,275

1,377,122

—

—

590,870

5,793,298

403

1,003

—

—

Operating income (loss)
(425,275
)
(1,377,122
)
—

—

(245,929
)
2,219,523

(403
)
(1,003
)
—

—

 
 
 
 
 
 
 
 
 
 
 

19


Other Income (expense) (attached schedule)
75

74

—

2,000,000

728

16,444

16,221,814

16,221,815

—

—

Interest income (expense), net
785,454

881,371

(658,024
)
(7,910,904
)
370,539

4,593,190

—

—

—

—

Reorganization items, net (attached schedule)
(3,447,117
)
(169,388,279
)
(583,906
)
(31,185,876
)
—

—

—

—

—

—

Foreign exchange gain (loss)
4,681,784

(13,109,464
)
—

—

5,547

10,623

(94,497
)
(94,498
)
—

—

Income/(loss) before taxes and non-controlling interest
1,594,921

(182,993,420
)
(1,241,930
)
(37,096,780
)
130,885

6,839,780

16,126,914

16,126,314

—

—

Income taxes expense (benefit)
15,229

129,312

—

—

16,034

(17,809
)
152,435

1,691,964

—

—

Income/(loss) from continuing operations before equity income of affiliate
1,579,692

(183,122,732
)
(1,241,930
)
(37,096,780
)
114,851

6,857,589

15,974,479

14,434,350

—

—

    
 
 
 
 
 
 
 
 
 
 
Equity in loss (income) of affiliates
—

—

(121,080
)
133,388

—

—

—

—

—

—

 
 
 
 
 
 
 
 
 
 
 
Income/(loss) from continuing operations
1,579,692

(183,122,732
)
(1,120,850
)
(37,230,168
)
114,851

6,857,589

15,974,479

14,434,350

—

—

 
 
 
 
 
 
 
 
 
 
 
Earnings/(loss) for the period
$
1,579,692

(183,122,732
)
$
(1,120,850
)
(37,230,168
)
114,851

6,857,589

15,974,479

14,434,350

$
—

—

 
 
 
 


20


COMBINED DEBTORS' STATEMENT OF OPERATIONS
 
 
 
 
 
 
 
 
 
2 of 4
Continuation Sheet for MOR-2
 
 
 
 
 
 
 
 
 
 
Case No.
 15-11364
 15-11365
 15-11366
 15-11367
 15-11368
Debtor
MCP Canada Holdings ULC
MCP Canada Limited Partnership
MCP Exchangeco Inc.
Molycorp Chemicals & Oxides Inc.
Molycorp Luxembourg Holdings S.a.r.l
 
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Revenues
 
 
 
 
 
 
 
 
 
 
External Sales - net
$
—

—

$
—

—

$
—

—

2,998,719

33,893,726

$
—

—

Sales to related parties
—

—

5,071,372

50,454,206

—

—

7,842,958

58,654,921

—

—

Total Revenue
—

—

5,071,372

50,454,206

—

—

10,841,677

92,548,647

—

—

 
 
 
 
 
 
 
 
 
 
 
Costs of sales
 
 
 
 
 
 
 
 
 
 
Costs excluding depreciation and amortization
—

—

4,222,897

46,517,840

—

—

9,364,900

87,634,759

—

—

Depreciation and amortization
—

—

—

—

—

—

—

—

—

—

Gross profit (loss)
—

—

848,475

3,936,366

—

—

1,476,777

4,913,888

—

—

 
 
 
 
 
 
 
 
 
 
 
Expenses
 
 
 
 
 
 
 
 
 
 
General & Administrative
—

—

200,157

1,982,027

—

5,508

474,271

2,700,265

—

290

Sales & Marketing
—

—

—

—

—

—

64,208

500,759

—

—

Insiders Compensation
—

—

—

—

—

—

117,255

817,279

—

—

Care and Maintenance
—

—

—

—

—

—

—

—

—

—

Depreciation and amortization
—

—

—

—

—

—

—

—

—

—

 - Accretion expense
—

—

—

—

—

—

—

—

—

—

Research and development
—

—

—

—

—

—

199,239

1,840,595

—

—

Revision in estimated ARO cash flows
—

—

—

—

—

—

—

—

—

—

Goodwill impairment & long lived assets
—

—

—

—

—

—

—

—

—

—

Total expenses
—

—

200,157

1,982,027

—

5,508

854,973

5,858,898

—

290

Operating income (loss)
—

—

648,318

1,954,339

—

(5,508
)
621,804

(945,010
)
—

(290
)
 
 
 
 
 
 
 
 
 
 
 
Other Income (expense) (attached schedule)
—

—

—

—

—

—

35

18,067

—

—

Interest income (expense), net
—

—

—

—

(2,582,348
)
(30,272,286
)
734

11,872

—

—

Reorganization items, net (attached schedule)
—

—

—

—

—

—

(100,000
)
(324,425
)
—

—

Foreign exchange gain (loss)
—

—

27,378

121,014

(4,055,759
)
11,882,562

67,096

289,769

—

—

Income/(loss) before taxes and non-controlling interest
—

—

675,696

2,075,353

(6,638,107
)
(18,395,232
)
589,669

(949,727
)
—

(290
)
Income taxes expense (benefit)
—

—

—

—

—

—

8,010

71,345

—

—

Income/(loss) from continuing operations before equity income of affiliate
—

—

675,696

2,075,353

(6,638,107
)
(18,395,232
)
581,659

(1,021,072
)
—

(290
)
 
 
 
 
 
 
 
 
 
 
 
Equity in loss (income) of affiliates
—

—

—

—

—

—

—

—

—

—

 
 
 
 
 
 
 
 
 
 
 
Income/(loss) from continuing operations
—

—

675,696

2,075,353

(6,638,107
)
(18,395,232
)
581,659

(1,021,072
)
—

(290
)
 
 
 
 
 
 
 
 
 
 
 
Earnings/(loss) for the period
$
—

—

$
675,696

2,075,353

$
(6,638,107
)
(18,395,232
)
$
581,659

(1,021,072
)
$
—

(290
)
 
 
 
 
 
 
 
 
 
 
 



21


COMBINED DEBTORS' STATEMENT OF OPERATIONS
 
 
 
 
 
 
 
 
 
3 of 4
Continuation Sheet for MOR-2
 
 
 
 
 
 
 
 
 
 
Case No.
 15-11369
 15-11370
 15-11372
 15-11373
 15-11374
Debtor
Molycorp Metals & Alloys Inc.
Molycorp Minerals Canada ULC
Molycorp Rare Metals Holdings Inc.
Molycorp Rare Metals (Utah) Inc.
Neo International Corp.
 
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Revenues
 
 
 
 
 
 
 
 
 
 
External Sales - net
—

3,082,894

$
—

38,360

$
—

—

$
182,626

5,005,671

$
—

—

Sales to related parties
—

698,274

253,470

2,532,307

—

—

1,907

1,423,429

—

—

Total Revenue
—

3,781,168

253,470

2,570,667

—

—

184,533

6,429,100

—

—

 
 
 
 
 
 
 
 
 
 
 
Costs of sales
 
 
 
 
 
 
 
 
 
 
Costs excluding depreciation and amortization
—

4,436,732

199,232

2,562,976

—

—

123,807

6,977,217

—

—

Depreciation and amortization
—

172,734

24,758

295,846

—

—

15,993

195,760

—

—

Gross profit (loss)
—

(828,298
)
29,480

(288,155
)
—

—

44,733

(743,877
)
—

—

 
 
 
 
 
 
 
 
 
 
 
Expenses
 
 
 
 
 
 
 
 
 
 
General & Administrative
—

45,938

1,064,689

7,068,815

6,734

22,861

24,737

397,268

108,183

893,724

Sales & Marketing
—

—

36,716

458,565

—

—

3,574

72,856

1,340

6,226

Insiders Compensation
—

—

114,111

1,606,464

—

—

—

—

—

—

Care and Maintenance
2,673

266,654

—

—

—

—

—

—

—

—

Depreciation and amortization
—

84,008

15,443

197,209

—

—

1,516

18,518

3,551

42,613

 - Accretion expense
—

—

—

—

—

—

—

—

—

—

Research and development
—

—

(45,945
)
552,605

102,000

204,000

—

—

—

—

Revision in estimated ARO cash flows
—

—

—

—

—

—

—

—

—

—

Goodwill impairment & long lived assets
—

—

—

—

—

—

—

6,917

—

—

Total expenses
2,673

396,600

1,185,014

9,883,658

108,734

226,861

29,827

495,559

113,074

942,563

Operating income (loss)
(2,673
)
(1,224,898
)
(1,155,534
)
(10,171,813
)
(108,734
)
(226,861
)
14,906

(1,239,436
)
(113,074
)
(942,563
)
 
 
 
 
 
 
 
 
 
 
 
Other Income (expense) (attached schedule)
314

1,460

6,826,000

10,099,801

—

920,000

—

—

—

—

Interest income (expense), net
—

—

(324,673
)
(4,219,678
)
57

580

148

2,666

24

86

Reorganization items, net (attached schedule)
—

(2,621,209
)
(7,678
)
(176,192
)
—

—

—

—

—

—

Foreign exchange gain (loss)
—

—

(706,655
)
1,401,201

—

—

139

9,552

(40,635
)
(903,134
)
Income/(loss) before taxes and non-controlling interest
(2,359
)
(3,844,647
)
4,631,460

(3,066,681
)
(108,677
)
693,719

15,193

(1,227,218
)
(153,685
)
(1,845,611
)
Income taxes expense (benefit)
—

—

(24,096
)
310,789

—

—

—

—

204,852

1,177,690

Income/(loss) from continuing operations before equity income of affiliate
(2,359
)
(3,844,647
)
4,655,556

(3,377,470
)
(108,677
)
693,719

15,193

(1,227,218
)
(358,537
)
(3,023,301
)
 
 
 
 
 
 
 
 
 
 
 
Equity in loss (income) of affiliates
—

—

—

—

—

—

—

—

—

—

 
 
 
 
 
 
 
 
 
 
 
Income/(loss) from continuing operations
(2,359
)
(3,844,647
)
4,655,556

(3,377,470
)
(108,677
)
693,719

15,193

(1,227,218
)
(358,537
)
(3,023,301
)
 
 
 
 
 
 
 
 
 
 
 
Earnings/(loss) for the period
$
(2,359
)
(3,844,647
)
$
4,655,556

(3,377,470
)
$
(108,677
)
693,719

$
15,193

(1,227,218
)
$
(358,537
)
(3,023,301
)
 
 
 
 




22


COMBINED DEBTORS' STATEMENT OF OPERATIONS
 
 
 
4 of 4
Continuation Sheet for MOR-2
 
 
 
 
Case No.
 Elimination
 Total
Debtor
 
 
 
Current Month
Cumulative Filing to Date
Current Month
Cumulative Filing to Date
Revenues
 
 
 
 
External Sales - net
$
—

—

$
6,857,459

75,502,178

Sales to related parties
(5,324,842
)
(60,370,896
)
11,233,172

97,440,645

Total Revenue
(5,324,842
)
(60,370,896
)
18,090,631

172,942,823

 
 
 
 
 
Costs of sales
 
 
 
 
Costs excluding depreciation and amortization
(5,217,074
)
(60,340,735
)
15,404,923

157,206,078

Depreciation and amortization
—

—

49,070

764,160

Gross profit (loss)
(107,768
)
(30,161
)
2,636,638

14,972,584

 
 
 
 
 
Expenses
 
 
 
 
General & Administrative
—

—

2,509,461

16,565,822

Sales & Marketing
—

—

206,580

2,102,595

Insiders Compensation
—

—

356,014

3,144,728

Care and Maintenance
—

—

2,673

266,654

Depreciation and amortization
—

—

180,978

2,279,471

 - Accretion expense
—

—

—

—

Research and development
—

—

255,294

2,597,200

Revision in estimated ARO cash flows
—

—

—

—

Goodwill impairment & long lived assets
—

—

—

6,917

Total expenses
—

—

3,511,000

26,963,387

Operating income (loss)
(107,768
)
(30,161
)
(874,362
)
(11,990,803
)
 
 
 
 
 
Other Income (expense) (attached schedule)
(6,826,000
)
(6,826,000
)
16,222,966

22,451,661

Interest income (expense), net
—

—

(2,408,089
)
(36,913,103
)
Reorganization items, net (attached schedule)
—

—

(4,138,701
)
(203,695,981
)
Foreign exchange gain (loss)
—

—

(115,602
)
(392,375
)
Income/(loss) before taxes and non-controlling interest
(6,933,768
)
(6,856,161
)
8,686,212

(230,540,601
)
Income taxes expense (benefit)
—

—

372,464

3,363,291

Income/(loss) from continuing operations before equity income of affiliate
(6,933,768
)
(6,856,161
)
8,313,748

(233,903,892
)
 
 
 
 
 
Equity in loss (income) of affiliates
—

—

(121,080
)
133,388

 
 
 
 
 
Income/(loss) from continuing operations
(6,933,768
)
(6,856,161
)
8,434,828

(234,037,280
)
 
 
 
 
 
Earnings/(loss) for the period
$
(6,933,768
)
(6,856,161
)
$
8,434,828

(234,037,280
)
 
 
 
 
 


23




Continuation Sheet for MOR-2
 
 
 
 
 
Debtor
Case No.
BREAKDOWN OF "OTHER" CATEGORY
Current Month
Cumulative
Filing to Date
 
 
 
 
 
 
 
Other Income/Expense
 
 
Molycorp Inc.
15-11357
Other Income /(expense)
75

74

 
 
 
 
 
Magnequench Inc.
15-11359
Dividend income
—

2,000,000

 
 
 
 
 
Magnequench International, Inc.
15-11360
Other Income /(expense)
728

16,444

 
 
 
 
 
Magnequench Limited
15-11361
Dividend income
16,223,322

16,223,322

 
 
Other Income /(expense)
(1,508
)
(1,508
)
 
 
 
16,221,814

16,221,814

 
 
 
 
 
Molycorp Chemicals & Oxides, Inc.
15-11367
Insurance refund
35

18,067

 
 
 
 
 
Molycorp Metals & Alloys, Inc.
15-11369
Rental/interest income
314

1,460

 
 
 
 
 
Molycorp Minerals Canada ULC
15-11370
Gain on fixed asset sale
—

810

 
 
Refund - insurance
—

2,993

 
 
Dividend Income
6,826,000

10,049,620

 
 
Other Income
—

46,378

 
 
 
6,826,000

10,099,801

 
 
 
 
 
Molycorp Rare Metals Holdings, Inc.
15-11372
Dividend income
—

920,000

 
 
 
 
 
 
 
Total Combined
23,048,966

29,277,660

 
 
 
 
 
 
Other Reorganization Expenses
 
 
Molycorp Inc.
15-11357
Legal and other professional fees
2,958,903

75,315,870

 
 
Adjustments to the carrying amount of debt
488,214

79,153,871

 
 
Write off of deferred financing cost
—

4,919,107

 
 
Gain on fair value adjustment of Springing Maturity derivative
—

(8,008,001
)
 
 
Early Payment Premium on Term loans
—

18,007,432

 
 
Total
3,447,117

169,388,279

 
 
 
 
 

24


Magnequench Inc.
15-11359
Write-off of discount and deferred financing cost on Term Loans
—

9,065,118

 
 
Early Payment Premium on Term Loans
583,906

22,120,758

 
 
Total
583,906

31,185,876

 
 
 
 
 
Molycorp Chemicals & Oxides, Inc.
15-11367
Trustee fees
100,000

215,250

 
 
Severance expense
—

109,175

 
 
Total
100,000

324,425

 
 
 
 
 
Molycorp Metals & Alloys, Inc.
15-11369
Severance expense
—

425,449

 
 
Loss on disposal of assets
—

2,195,760

 
 
Total
—

2,621,209

 
 
 
 
 
Molycorp Minerals Canada ULC
15-11370
Legal and other professional fees
—

60,913

 
 
Severance expense
7,678

115,278

 
 
 
7,678

176,191

 
 
 
 
 
 
 
Total Combined
4,138,701

203,695,980

 
 
 
 
 
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.
 
 
 
 
 


25


UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Molycorp, Inc., et al., Debtors
Case No. 15-11357 (CSS)
MOR-3
Reporting Period: June 2016

Notes to MOR-3, Balance Sheet

Unless otherwise indicated, the value of the assets contained in MOR-3 are book values as of June 30, 2016. Amounts ultimately realized from the disposition of the Debtors’ assets may materially vary from the stated book value. The carrying amounts of these assets are not based upon any estimate of such assets’ current market values. The Debtors reserve the right to amend or adjust the value of each asset in MOR-3.
All liabilities in MOR-3 are separated into obligations that were incurred prior to the filing of the Chapter 11 Cases (the "pre-petition liabilities") and those incurred after the filing of the Chapter 11 Cases (the "post-petition liabilities"). Pre-petition liabilities are further segregated into liabilities subject to compromise ("LSTC") and liabilities not subject to compromise. LSTC are pre-petition obligations that are not fully secured and that have at least a possibility of not being repaid at the full claim amount. However, fully secured liabilities may become impaired under a reorganization plan and may be classified as LSTC.
LSTC, including claims that become known after the filing of the Chapter 11 Cases, are reported on the basis of the expected amount of the total allowed claim, even though they may be settled for lesser amounts. Allowed claims are initially included in the debtors listing of liabilities filed with the Court or submitted by a creditor to the Court and not objected by the Debtors. Allowed claims remain subject to future adjustment that may result from actions of the Court, rejection of contracts and unexpired leases, negotiations, disputed claims, valuation of collateral securing claims, and other events.
COMBINED DEBTORS' BALANCE SHEET
As at June 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
1 of 2
Case No.
15-11357
15-11359
 
15-11360
15-11361
15-11363
15-11364
15-11365
15-11366
15-11367
15-11368
15-11369
15-11370
15-11372
Debtor
Molycorp Inc.
Magnequench Inc.
 
Magnequench International Inc.
Magnequench Limited
MCP Callco ULC
MCP Canada Holdings ULC
MCP Canada Limited Partnership
MCP Exchangeco Inc.
Molycorp Chemicals & Oxides Inc.
Molycorp Luxembourg Holdings S.a.r.l
Molycorp Metals & Alloys Inc.
Molycorp Minerals Canada ULC
Molycorp Rare Metals Holdings Inc.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
3,318,772

$
—

 
$
12,764,864

$
148,643

$
5,000

$
5,000

$
3,281,290

$
5,960

$
12,207,260

$
29,904

$
4,802,775

$
9,587,883

$
868,969

Restricted cash
17,299,601

—

 
—

—

—

—

—

—

—

—

—

—

—

Trade accounts receivable
—

—

 
3,825,519

—

—

—

—

—

3,514,550

—

—

—

—

Inventories
—

—

 
3,149,615

—

—

—

307,085

—

7,876,273

—

—

531,095

—

Income tax receivable
404,687

—

 
—

88,061

—

—

—

—

—

—

—

—

—

Defer tax assets
—

—

 
—

—

—

—

—

—

—

—

—

—

—

Other current assets (attached schedule)
7,469,335

—

 
—

3,162

—

—

4,390

—

48,880

—

2,335

187,959

—

Total current assets
28,492,395

—

 
19,739,998

239,866

5,000

5,000

3,592,765

5,960

23,646,963

29,904

4,805,110

10,306,937

868,969

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   - Real Property & Improvement
—

—

 
100,000

—

—

—

—

—

—

—

—

1,510,345

—

   - Machinery & Equipment
—

—

 
1,528,573

—

—

—

—

—

—

—

—

3,939,634

—

   - Furniture & Office Equipment
—

—

 
7,421,923

—

—

—

—

—

84,275

—

—

1,334,575

—

   - Vehicle
—

—

 
—

—

—

—

—

—

—

—

—

—

—

   - Minerals Resource
—

—

 
—

—

—

—

—

—

—

—

—

—

—

   - Construction in Process
—

—

 
19,920

—

—

—

—

—

—

—

—

—

—

    less: accumulated depreciation
—

—

 
(7,496,937
)
—

—

—

—

—

(84,275
)
—

—

(4,101,376
)
—


26


Property, plant and equipment
—

—

 
1,573,479

—

—

—

—

—

—

—

—

2,683,178

—

Deposits
2,008,679

—

 
—

—

—

—

—

—

—

—

—

—

—

Inventories
—

—

 
—

—

—

—

—

—

—

—

—

—

—

Patents and other intangible assets
—

—

 
28,322,848

—

—

—

—

—

—

—

—

245,689

—

Investment (attached schedule)
411,339,505

141,560,510

 a
17,067,184

2,033,276

—

—

1,192,325,440

679,175,440

—

364,150,000

—

31,811,569

22,919,589

Other assets (attached schedule)
—

—

 
45,060

—

—

—

—

—

—

—

—

—

—

Loan to Insiders
—

—

 
—

—

—

—

—

—

—

—

—

—

—

Related Party Receivable
746,934,745

51,018,008

 
109,810,284

19,205,452

—

—

20,757,605

48,930,048

24,455,031

—

2,200,000

28,036,789

1,800,000

Total non current assets
1,160,282,929

192,578,518

 
156,818,855

21,238,728

—

—

1,213,083,045

728,105,488

24,455,031

364,150,000

2,200,000

62,777,225

24,719,589

Total assets
1,188,775,324

192,578,518

 
176,558,853

21,478,594

5,000

5,000

1,216,675,810

728,111,448

48,101,994

364,179,904

7,005,110

73,084,162

25,588,558

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Trade accounts payable
2,928,161

—

 
39,403

—

—

—

4,208

—

91,615

—

—

81,447

—

DIP Financing
144,782,185

—

 
—

—

—

—

—

—

—

—

—

—

—

Accrued expenses
27,688,202

—

 
315,559

—

—

—

24,369

—

2,965,337

—

16,800

1,341,862

—

Interest payable
—

—

 
—

—

—

—

—

—

—

—

—

—

—

Income taxes payable
—

—

 
305,072

—

—

—

—

—

—

—

—

579,909

—

Capital lease
—

—

 
—

—

—

—

—

—

—

—

—

—

—

Asset retirement obligation
—

—

 
—

—

—

—

—

—

—

—

—

—

—

Total current liabilities
175,398,548

—

 
660,034

—

—

—

28,577

—

3,056,952

—

16,800

2,003,218

—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital lease
—

—

 
—

—

—

—

—

—

—

—

—

—

—

Asset retirement obligation
—

—

 
—

—

—

—

—

—

—

—

—

—

—

Defer tax liabilities
5,772,000

—

 
341,543

846,723

—

—

—

—

—

—

—

1,190,876

—

Pension benefit liabilities
—

—

 
2,838,572

—

—

—

—

—

—

—

—

—

—

Other Long-term liabilities
—

—

 
—

—

—

—

—

—

—

—

—

—

—

Amount due to Insiders
—

—

 
—

—

—

—

—

—

—

—

—

—

—

Related party payable
16,096,013

1,567,733

 
422,647

—

5,000

5,000

8,034,257

30,823,494

18,793,093

4,202

24,243

9,089,213

108,734

Liabilities subject to compromise - Related party
71,041,354

6,460,529

 a
17,578,680

219,062

—

7,750

12,403,514

352,937,653

17,371,061

364,287,300

170,617

59,719,369

—

Liabilities subject to compromise - Third party
1,511,599,363

89,499,667

 
10,019

—

—

—

7,287

—

17,561

—

32,659

1,859,408

—

Total non-current liabilities
1,604,508,730

97,527,929

 
21,191,461

1,065,785

5,000

12,750

20,445,058

383,761,147

36,181,715

364,291,502

227,519

71,858,866

108,734

Total liabilities
1,779,907,278

97,527,929

 
21,851,495

1,065,785

5,000

12,750

20,473,635

383,761,147

39,238,667

364,291,502

244,319

73,862,084

108,734

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-controlling interest
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shareholder's equity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 

27


Share capital
258,954

33,788

 
21,556

4,621,000

—

—

679,175,441

10,255,745

1,500

20,000

—

275,174,583

22,463,750

Contributed surplus
2,250,983,641

40,027,833

 
148,368,181

389,376

—

—

—

401,063,759

226,313

—

17,521,567

(4,095,431
)
—

Accumulated deficits
(2,842,374,549
)
54,988,968

 a
6,852,471

15,402,433

—

(7,750
)
517,026,734

(66,969,203
)
8,635,514

(131,598
)
(10,760,776
)
(271,857,074
)
3,016,074

Accum Other Comprehensive Income
—

—

 
(534,850
)
—

—

—

—

—

—

—

—

—

—

Shareholders' equity
(591,131,954
)
95,050,589

 
154,707,358

20,412,809

—

(7,750
)
1,196,202,175

344,350,301

8,863,327

(111,598
)
6,760,791

(777,922
)
25,479,824

Total liabilities and shareholders' equity
1,188,775,324

192,578,518

 
176,558,853

21,478,594

5,000

5,000

1,216,675,810

728,111,448

48,101,994

364,179,904

7,005,110

73,084,162

25,588,558

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Notes
a. In 2012, Magnequench UG, a dormant entity, merged into Magnequench Inc. The impact of this merger is reflected in the June monthly operating report with adjustments made to LSTC- related party payable, investment and equity of Magnequench Inc.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

    

28



COMBINED DEBTORS' BALANCE SHEET
 
2 of 2
Continuation Sheet for MOR-3
 
 
 
As at June 30, 2016
 
 
 
 
Case No.
15-11373
15-11374
Elimination
Total
Debtor
Molycorp Rare Metals (Utah) Inc.
Neo International Corp.
 
 
 
 
 
 
 
ASSETS
 
 
 
 
Current
 
 
 
 
Cash and cash equivalents
$
2,352,513

$
228,173

$
—

$
49,607,006

Restricted cash
—

—

—

17,299,601

Trade accounts receivable
295,118

—

—

7,635,187

Inventories
4,505,582

—

(30,161
)
16,339,489

Income tax receivable
—

—

—

492,748

Defer tax assets
—

—

—

—

Other current assets (attached schedule)
379,973

5,194

—

8,101,228

Total current assets
7,533,186

233,367

(30,161
)
99,475,259

 
 
 
 
 
Fixed Assets
 
 
 
 
   - Real Property & Improvement
1,021,865

—

—

2,632,210

   - Machinery & Equipment
1,068,175

—

—

6,536,382

   - Furniture & Office Equipment
45,006

—

—

8,885,779

   - Vehicle
—

—

—

—

   - Minerals Resource
—

—

—

—

   - Construction in Process
—

—

—

19,920

    less: accumulated depreciation
(1,491,834
)
—

—

(13,174,422
)
Property, plant and equipment
643,212

—

—

4,899,869

Deposits
—

—

—

2,008,679

Inventories
—

—

—

—

Patents and other intangible assets
—

466,485

—

29,035,022

Investment (attached schedule)
—

28,535,255

(2,822,068,309
)
68,849,459

Other assets (attached schedule)
—

—

—

45,060

Loan to Insiders
—

—

—

—

Related Party Receivable
1,425,987

46,541,880

(934,108,070
)
167,007,759

Total non current assets
2,069,199

75,543,620

(3,756,176,380
)
271,845,847

Total assets
9,602,385

75,776,987

(3,756,206,541
)
371,321,106

 
 
 
 
 
LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
 
 

29


 
 
 
 
 
Current
 
 
 
 
Trade accounts payable
20,384

—

—

3,165,218

DIP Financing
—

—

—

144,782,185

Accrued expenses
202,427

158,187

—

32,712,743

Interest payable
—

—

—

—

Income taxes payable
—

—

—

884,981

Capital lease
—

—

—

—

Asset retirement obligation
—

—

—

—

Total current liabilities
222,811

158,187

—

181,545,127

 
 
 
 
 
Capital lease
—

—

—

—

Asset retirement obligation
—

—

—

—

Defer tax liabilities
—

2,190,744

—

10,341,886

Pension benefit liabilities
—

—

—

2,838,572

Other Long-term liabilities
—

—

—

—

Amount due to Insiders
—

—

—

—

Related party payable
257,837

846,748

(59,213,620
)
26,864,594

Liabilities subject to compromise - Related party
38,381

149,196

(874,894,451
)
27,490,015

Liabilities subject to compromise - Third party
50,347

786,750

—

1,603,863,061

Total non-current liabilities
346,565

3,973,438

(934,108,071
)
1,671,398,128

Total liabilities
569,376

4,131,625

(934,108,071
)
1,852,943,255

 
 
 
 
 
Non-controlling interest
 
 
 
 
 
 
 
 
 
Shareholder's equity:
 
 
 
 
Share capital
14,550,000

19,163,220

(1,025,480,583
)
258,954

Contributed surplus
—

514,460

(586,494,491
)
2,268,505,208

Accumulated deficits
(5,516,991
)
51,967,682

(1,210,123,396
)
(3,749,851,461
)
Accum Other Comprehensive Income
—

—

—

(534,850
)
Shareholders' equity
9,033,009

71,645,362

(2,822,098,470
)
(1,481,622,149
)
Total liabilities and shareholders' equity
9,602,385

75,776,987

(3,756,206,541
)
371,321,106







30



Continuation Sheet for MOR-3
 
 
 
 
 
 
 
 
 
BOOK VALUE AS AT
Debtor
Case No.
 
ASSETS
June 30, 2016
 
 
Other Current Assets
 
Molycorp Inc.
15-11357
 
Retainer fee paid to Jones Day
75,000

 
 
 
Retainer fee paid to Young Conway
25,000

 
 
 
Retainer fee paid to Prime Clerk
25,000

 
 
 
Retainer fee paid to Paul Welss
300,000

 
 
 
Retainer fee paid to Kramer Levin
350,000

 
 
 
Retainer fee paid to Miller Buckfire
2,288

 
 
 
Retainer fee paid to Mile 26
300,000

 
 
 
Prepaid Insurance
6,068,648

 
 
 
Prepaid and deferred charges
323,399

 
 
 
Total
7,469,335

 
 
 
 
 
Magnequench Limited
15-11361
 
HST/VAT recoverable
3,162

 
 
 
 
 
MCP Canada Limited Partnership
15-11365
 
Prepaids expenses
4,390

 
 
 
 
 
Molycorp Chemicals & Oxides, Inc.
15-11367
 
Prepaids and deferred charges
13,932

 
 
 
Misc receivables - Other
18,190

 
 
 
Prepaid Insurance
16,758

 
 
 
Total
48,880

 
 
 
 
 
Molycorp Metals & Alloys, Inc.
15-11369
 
Refundable deposits to utility company
2,335

 
 
 
 
 
Molycorp Minerals Canada ULC (Toronto)
15-11370
 
GST/VAT recoverable
25,086

 
 
 
Prepayment on rent and consulting
100,011

 
 
 
Prepaid Insurance
41,699

 
 
 
Prepaid Tax Installment (property)
12,070

 
 
 
HST Recoverable
8,900

 
 
 
Misc receivable
193

 
 
 
Total
187,959

 
 
 
 
 
Molycorp Rare Metals (Utah), Inc.
15-11373
 
Prepaid Others
16,274

 
 
 
Prepaid - Pots Expense
14,522

 
 
 
Prepaid - Heaters Expense
10,032

 
 
 
Prepaid - Propane Expense
9,264


31


 
 
 
Prepaid - Package Expense
23,414

 
 
 
Prepaid Duty
283,976

 
 
 
Misc Receivable - Beijing Jiya
22,491

 
 
 
Total
379,973

 
 
 
 
 
Neo International Corp.
15-11374
 
Prepayment for professional fee
5,000

 
 
 
GST/VAT recoverable
194

 
 
 
Total
5,194

 
 
 
 
 
 
 
 
Combined Debtor Total Other Current Assets
8,101,228

 
 
 
 
 
Investments
Molycorp Inc.
15-11357
 
Molycorp Luxembourg Holdings S.a.r.l. (100%)
20,000

 
 
 
MCP Exchangeco Inc. (100%)
411,319,505

 
 
 
Total
411,339,505

 
 
 
 
 
Magnequench Inc.
15-11359
 
Gan Zhou Ke Li Rare Earth New Material (25%)
5,408,132

 
 
 
Magnequench Neo Powders Pte. Ltd. (100%)
116,421

 
 
 
Magnequench International Inc. (100%)
136,035,957

 
 
 
Total
141,560,510

 
 
 
 
 
Magnequench International, Inc.
15-11360
 
Xin Bao Investment Limited (98.9%)
17,067,184

 
 
 
 
 
Magnequench Limited
15-11361
 
Magnequench International Trading (Tianjin) Co., Ltd. (100%)
800,000

 
 
 
Magnequench (Korat) Co., Ltd. (100%)
1

 
 
 
Zibo Jia Xin Magnetic Materials Ltd. (100%)
530,000

 
 
 
GQD Special Material (Thailand) Co., Ltd. (20%)
703,275

 
 
 
Total
2,033,276

 
 
 
 
 
MCP Canada Limited Partnership
15-11365
 
Molycorp Minerals Canada ULC
1,192,325,440

 
 
 
 
 
MCP Exchangeco Inc.
15-11366
 
MCP Canada Limited Partnership (99.99%)
679,175,440

 
 
 
 
 
Molycorp Luxembourg Holdings S.a.r.l.
15-11368
 
Molycorp Rare Metals Holdings Inc. (100%)
24,150,000

 
 
 
Magnequench Inc. (100%)
325,000,000

 
 
 
Molycorp Chemicals & Oxides Inc. (100%)
15,000,000

 
 
 
Total
364,150,000

 
 
 
 
 
Molycorp Minerals Canada ULC (Toronto)
15-11370
 
Neo International Corp. (100%)
19,163,220

 
 
 
Vive Crop Protection Inc. RSTD (investment)
805,305


32


 
 
 
Molycorp Chemicals & Oxides (Europe) Ltd. (100%)
158

 
 
 
Magnequench Limited (100%)
4,621,000

 
 
 
Molycorp (Beijing) Co., Ltd. (100%)
200,000

 
 
 
NMT Holdings GmbH (100%)
71,940

 
 
 
Molycorp Korea Inc. ( 100%)
91,000

 
 
 
Molycorp Rare Metals Korea Inc. (100%)
3,065,000

 
 
 
Xin Bao Investment Limited (1.1%)
3,000,000

 
 
 
Molycorp Japan Inc. (100%)
86,199

 
 
 
Molycorp Rare Metals (Utah), Inc.
707,747

 
 
 
Total
31,811,569

 
 
 
 
 
Molycorp Rare Metals Holdings, Inc.
15-11372
 
Molycorp Rare Metals (Oklahoma) LLC (80%)
6,500,000

 
 
 
Molycorp Rare Metals (Utah) Inc. (100%)
14,550,000

 
 
 
Shanxi Jia Hua Galaxy Electronic Materials Co., Ltd. (60%)
1,869,589

 
 
 
Total
22,919,589

 
 
 
 
 
Neo International Corp.
15-11374
 
Jiangyin Jiahua Advanced Material Resources Co., Ltd. (95%)
23,279,669

 
 
 
Zibo Jiahua Advanced Material Resources Co., Ltd. (95%)
5,042,586

 
 
 
Neo Performance Materials (Singapore) Pte. Ltd. (100%)
213,000

 
 
 
Total
28,535,255

 
 
 
 
 
 
 
 
Combined Investments
2,890,917,768

 
 
 
 
 
 
 
Other Assets
Magnequench International, Inc.
15-11360
 
Rental deposit
300

 
 
 
Rental deposit for Osaka office
44,760

 
 
 
Total
45,060

 
 
 
 
 
 
 
 
Combined Debtor Total Other Assets
45,060

 
 
 
 
 
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.

33


UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Molycorp, Inc., et al., Debtors
Case No. 15-11357 (CSS)
MOR-4
Reporting Period: June 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.
 
 
 
 
 
 
 
 
 
 
 
 
Federal
Beginning Tax Liability
 Amount Withheld or Accrued
Amount Paid
Date Paid
Check No. or EFT
Ending Tax Liability
Withholding
—

72,331

72,331

 Various

 EFT

—

FICA-Employee
—

18,415

18,415

 Various

 EFT

—

FICA-Employer
—

18,415

18,415

 Various

 EFT

—

Unemployment
991

(991
)
—

 
 
—

Income
—

—

—

 
 
—

Other: Fed Medical Ins
—

17,661

17,661

 Various

 EFT

—

Total Federal Taxes
991

125,831

126,822

 
 
—

State and Local
Withholding
11,472

10,456

9,224

 Various

 EFT

12,704

Sales & Use AZ location only
—

—

—

 
 
—

Excise
—

—

—

 
 
—

Unemployment
—

—

—

 
 
—

Real Property
—

—

—

 
 
—

Personal Property
—

—

—

 
 
—

Other: Property taxes for land and machinery
16,800

—

—

 
 
16,800

Total State and Local
28,272

10,456

9,224

 
 
29,504

Total Taxes
29,263

136,287

136,046

 
 
29,504

 
 
 
 
 
 
 
 
 
 
 
 
 
 
SUMMARY OF UNPAID POSTPETITION DEBTS
 
 
 
 
 
 
 
Number of Days Past Due
 
Current
 0-30
31-60
61-90
Over 90
Total
Accounts Payable
1,408,782

947,766

21,078

481,588

306,004

3,165,218

Wages Payable
82,887

—

—

—

—

82,887

Taxes Payable
115,223

—

—

—

—

115,223


34


Rent/Leases-Building
—

—

—

—

—

—

Rent/Leases-Equipment
—

—

—

—

—

—

Secured Debt/Adequate Protection Payments
—

—

—

—

—

—

Professional Fees
—

—

—

—

—

—

Amounts Due to Insiders*
—

—

—

—

—

—

Other: DIP Financing
144,782,185

—

—

—

—

144,782,185

 
 
 
 
 
 
 
Total Postpetition Debts
146,389,077

947,766

21,078

481,588

306,004

148,145,513

 
 
 
 
 
 
 
Explain how and when the Debtor intends to pay any past-due postpetition debts.
 
 
 
 
0-30
947,766

 $901,956 represents 20% holdback. $44,648 was paid in July, and remaining $1,163 outstanding.
31-60
21,078

 $17,936 represents 20% holdback, $3,142 still waiting approval.
61-90
481,588

 $476,987 represents 20% holdback, $4,599 still waiting approval.
Over 90
306,004

 $236,706 represents 20% holdback, $63,303 was deferred payment, $4,832 on hold; and $1,163 needs approval.
 
1,756,436

 Total Past Due Accounts Payable
 
 
 
*"Insider" is defined in 11 U.S.C. Section 101(31).
 
 
 
 
 
 
 
 
 
 
 
 
 



35


UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Molycorp, Inc., et al., Debtors
Case No. 15-11357 (CSS)
MOR-4
Reporting Period: June 2016
SUMMARY OF UNPAID POST PETITION DEBTS - SUPPLEMENTAL SCHEDULE
 
 
 
 
 
 
 
 
ACCOUNTS PAYABLE
 
 
 
 
 
 
 
 
Number of Days Past Due
Debtor
Case No
Current
0-30
31-60
61-90
Over 90
Total
Molycorp Inc.
15-11357
1,222,369

901,956

21,078

481,586

301,172

2,928,161

Magnequench Inc.
15-11359
—

—

—

—

—

—

Magnequench International, Inc.
15-11360
33,408

1,163

—

—

4,832

39,403

Magnequench Limited
15-11361
—

—

—

—

—

—

MCP Callco ULC
15-11363
—

—

—

—

—

—

MCP Canada Holdings ULC
15-11364
—

—

—

—

—

—

MCP Canada Limited Partnership
15-11365
4,208

—

—

—

—

4,208

MCP Exchangeco Inc.
15-11366
—

—

—

—

—

—

Molycorp Chemicals & Oxides, Inc.
15-11367
49,632

41,983

—

—

—

91,615

Molycorp Luxembourg Holdings S.a.r.l
15-11368
—

—

—

—

—

—

Molycorp Metals & Alloys, Inc.
15-11369
—

—

—

—

—

—

Molycorp Minerals Canada ULC (Toronto)
15-11370
30,737

2,664

—

2

—

33,403

Molycorp Minerals Canada ULC (Peterborough)
15-11370
48,044

—

—

—

—

48,044

Molycorp Rare Metals Holdings, Inc.
15-11372
—

—

—

—

—

—

Molycorp Rare Metals (Utah), Inc.
15-11373
20,384

—

—

—

—

20,384

Neo International Corp.
15-11374
—

—

—

—

—

—

 
 
 
 
 
 
 
 
Combined Total
 
1,408,782

947,766

21,078

481,588

306,004

3,165,218



36


UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Molycorp, Inc., et al., Debtors
Case No. 15-11357 (CSS)
MOR-5
Reporting Period: June 2016
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
 
 
 
 
 
 
 
 
 
 
 
Case No.
Combined Debtors' Accounts Receivable
15-11357
15-11359
15-11360
15-11361
15-11363
15-11364
15-11365
Accounts Receivable Reconciliation
Debtor
Molycorp Inc.
Magnequench Inc.
Magnequench International Inc.
Magnequench Limited
MCP Callco ULC
MCP Canada Holdings ULC
MCP Canada Limited Partnership
Total Accounts Receivable at the beginning of the reporting period
7,745,171

—

—

3,585,236

—

—

—

—

+ Amounts billed during the period
6,943,924

—

—

3,676,114

—

—

—

—

- Amounts collected during the period
(7,053,908
)
—

—

(3,435,831
)
—

—

—

—

+/- Revaluation of Foreign Currency Receivable
—

—

—

—

—

—

—

—

+/- AR adjustments
—

—

—

—

—

—

—

—

Total Accounts Receivable at the end of the reporting period
7,635,187

—

—

3,825,519

—

—

—

—

 
 
 
 
 
 
 
 
 
Accounts Receivable Aging
 
 
 
 
 
 
 
 
 
0 - 30 days old
7,602,636

—

—

3,826,365

—

—

—

—

31 - 60 days old
31,107

—

—

—

—

—

—

—

61 - 90 days old
2,326

—

—

—

—

—

—

—

91+ days old
(883
)
—

—

(847
)
—

—

—

—

Total Accounts Receivable
7,635,187

—

—

3,825,519

—

—

—

—

Amount considered uncollectible (Bad Debt)
—

—

—

—

—

—

—

—

Accounts Receivable (Net)
7,635,187

—

—

3,825,519

—

—

—

—

 
 
 
 
 
 
 
 
 
 
 
Case No.
15-11366
15-11367
15-11368
15-11369
15-11370
15-11372
15-11373
15-11374
Accounts Receivable Reconciliation
Debtor
MCP Exchangeco Inc.
Molycorp Chemicals & Oxides Inc.
Molycorp Luxembourg Holdings S.a.r.l
Molycorp Metals & Alloys Inc.
Molycorp Minerals Canada ULC
Molycorp Rare Metals Holdings Inc.
Molycorp Rare Metals (Utah) Inc.
Neo International Corp.
Total Accounts Receivable at the beginning of the reporting period
 
3,721,040

—

—

—

—

438,895

—

+ Amounts billed during the period
—

3,085,310

—

—

—

—

182,499

—

- Amounts collected during the period
—

(3,291,800
)
—

—

—

—

(326,276
)
—

+/- Revaluation of Foreign Currency Receivable
—

—

—

—

—

—

—

—

+/- AR adjustments
—

—

—

—

—

—

—

—

Total Accounts Receivable at the end of the reporting period
—

3,514,550

—

—

—

—

295,118

—

 
 
 
 
 
 
 
 
 
Accounts Receivable Aging
 
 
 
 
 
 
 
 
 
0 - 30 days old
—

3,481,153

—

—

—

—

295,118

—


37


31 - 60 days old
—

31,107

—

—

—

—

—

—

61 - 90 days old
—

2,326

—

—

—

—

—

—

91+ days old
—

(36
)
—

—

—

—

—

—

Total Accounts Receivable
—

3,514,550

—

—

—

—

295,118

—

Amount considered uncollectible (Bad Debt)
—

—

—

—

—

—

—

—

Accounts Receivable (Net)
—

3,514,550

—

—

—

—

295,118

—

 
 
 
 
 
 
 
 
 
 

38


UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Molycorp, Inc., et al., Debtors
Case No. 15-11357 (CSS)
MOR-5
Reporting Period: June 2016
SUMMARY OF RECEIVABLES - SUPPLEMENTAL SCHEDULE
 
 
 
 
 
 
 
 
ACCOUNTS RECEIVABLE
 
 
 
 
 
 
 
 
Number of Days Past Due
Debtor
Case No
0-30
31-60
61-90
Over 90
Bad debt
 Total
Molycorp Inc.
15-11357
—

—

—

—

—

—

Magnequench Inc.
15-11359
—

—

—

—

—

—

Magnequench International, Inc.
15-11360
3,826,365

—

—

(847
)
—

3,825,518

Magnequench Limited
15-11361
—

—

—

—

—

—

MCP Callco ULC
15-11363
—

—

—

—

—

—

MCP Canada Holdings ULC
15-11364
—

—

—

—

—

—

MCP Canada Limited Partnership
15-11365
—

—

—

—

—

—

MCP Exchangeco Inc.
15-11366
—

—

—

—

—

—

Molycorp Chemicals & Oxides, Inc.
15-11367
3,481,153

31,107.00

2,326

(36
)
—

3,514,550

Molycorp Luxembourg Holdings S.a.r.l
15-11368
—

—

—

—

—

—

Molycorp Metals & Alloys, Inc.
15-11369
—

—

—

—

—

—

Molycorp Minerals Canada ULC (Toronto)
15-11370
—

—

—

—

—

—

Molycorp Minerals Canada ULC (Peterborough)
15-11370
—

—

—

—

—

—

Molycorp Rare Metals Holdings, Inc.
15-11372
—

—

—

—

—

—

Molycorp Rare Metals (Utah), Inc.
15-11373
295,118

—

—

—

—

295,118

Neo International Corp.
15-11374
—

—

—

—

—

—

 
 
 
 
 
 
 
 
Combined Total
 
7,602,636

31,107

2,326

(883
)
—

7,635,186

 
 
 
 
 
 
 
 






39


UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re Molycorp, Inc., et al., Debtors
Case No. 15-11357 (CSS)
MOR-5
Reporting Period: June 2016

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.
 
√
 
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.
 
√
 
3. Have all postpetition tax returns been timely filed? If no, provide an explanation below.
√
 
 
4. Are workers compensation, general liability and other necessary insurance
coverages in effect? If no, provide an explanation below.
√
 
 
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.
 
√
 
 
 
 
 
* The above questionnaire reflects the responses of each debtor entity.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


40