SECURITIES AND EXCHANGE COMMISSION
Pursuant to Section 13 OR 15(d)
of the Securities Exchange Act of 1934
Date of Report: February 20, 2018
Real Industry, Inc.
Delaware |
|
001-08007 |
|
46-3783818 |
(State or other Jurisdiction of Incorporation) |
|
(Commission File Number) |
|
(IRS Employer Identification No.) |
3700 Park East Drive, Suite 300 Beachwood, OH 44122 |
(Address of principal executive offices) (Zip Code) |
Registrant’s telephone number, including area code: (805) 435-1255
|
(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:
☐ 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))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 |
Regulation FD Disclosure. |
|
|
On February 20, 2018, Real Industry, Inc. (the “Company”), Real Alloy Intermediate Holding, LLC, Real Alloy Holding, Inc. (“Real Alloy”) and certain of the Real Alloy U.S. subsidiaries (collectively, the “Debtors”) filed their unaudited monthly operating report for the period from January 1, 2018 to January 31, 2018 (the “Monthly Operating Report”) with the Bankruptcy Court in the Chapter 11 Proceedings. A copy of this report is contained in the attached Exhibit 99.1 and is incorporated herein by reference. This Current Report on Form 8-K (including the exhibits hereto) shall not be deemed to be an admission as to the materiality of any information required to be disclosed herein.
In accordance with General Instruction B.2 of Form 8-K, the information contained in this Item 7.01 and in Exhibit 99.1 furnished as an exhibit hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section, and shall not be deemed incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing or document.
Cautionary Note Regarding the Monthly Operating Report
The Monthly Operating Report has been prepared by the Debtors solely for the purpose of complying with the monthly reporting requirements in the Chapter 11 Proceedings and is in a format acceptable to the United States Trustee. Any financial information contained therein is limited in scope and covers a limited time period. Such information is preliminary and unaudited, and is not prepared in accordance with U.S. generally accepted accounting principles (GAAP).
Cautionary Note Regarding the Company’s Common Stock
The Company cautions that trading in its securities during the pendency of the Chapter 11 Proceedings is highly speculative and poses substantial risks. Trading prices for the Company’s securities may bear little or no relationship to the actual recovery, if any, by holders of such securities in the Chapter 11 Proceedings.
Additional Information on the Chapter 11 Proceedings
Court filings and other information related to the court-supervised proceedings are available at a website administered by the Company’s claims agent, Prime Clerk, at https://cases.primeclerk.com/realindustry. Additional information on Real Industry can be found at its website www.realindustryinc.com.
Cautionary Note Regarding Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements, which are based on our current expectations, estimates, and projections about the businesses and prospects of the Company, Real Alloy and their subsidiaries (“we” or “us”), as well as management’s beliefs, and certain assumptions made by management. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “may,” “should,” “will” and variations of these words are intended to identify forward-looking statements. Such statements speak only as of the date hereof and are subject to change. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Forward-looking statements discuss, among other matters: our financial and operational results, as well as our expectations for future financial trends and performance of our business in future periods; our strategy; risks and uncertainties associated with Chapter 11 proceedings; the negative impacts on our businesses as a result of filing for and operating under Chapter 11 protection; the time, terms and ability to confirm a Chapter 11 plan of reorganization for our businesses; the adequacy of the capital resources of our businesses and the difficulty in forecasting the liquidity requirements of the operations of our businesses; the unpredictability of our financial results while in Chapter 11 proceedings; our ability to discharge claims in Chapter 11 proceedings; negotiations with the “stalking horse” bidder on a definitive agreement for the terms of purchase; receipts of other acquisition bids and negotiations with associated bidders; negotiations with the holders of Real Alloy’s senior secured notes, its asset-based facility lender, and its trade and other unsecured creditors; risks and uncertainties with performing under the terms of the Debtors’ debtor-in-possession (“DIP”) financing arrangements and any other arrangement with lenders or creditors while in Chapter 11 proceedings; the Debtors’ ability to operate our businesses within the terms of our respective DIP financing arrangements; the forecasted uses of funds in the Debtors’ DIP budgets; negotiations with DIP lenders; the impact of Real Alloy’s Chief Restructuring Officer on its restructuring efforts and negotiations with creditors and other stakeholders in the Chapter 11 proceedings; our ability to retain employees, suppliers and customers as a result of Chapter 11 proceedings; the ability to pay any amounts under key employee incentive or retention plans adopted in connection with the Chapter 11 proceedings; Real Alloy’s ability to conduct business as usual in the United States and worldwide; Real Alloy’s ability to continue to serve customers, suppliers and other business partners at the high level of service and performance they have come to expect from Real Alloy; our ability to continue to pay suppliers and vendors; our ability to fund ongoing business operations through the applicable DIP financing arrangements; the use of the funds anticipated to be received in the DIP financing arrangements; the ability to control costs during Chapter 11 proceedings; the risk that
our Chapter 11 proceedings may be converted to cases under Chapter 7 of the Bankruptcy Code; the ability of the Company to preserve and utilize the NOLs following Chapter 11 proceedings; the Company’s ability to secure operating capital; the Company’s ability to take advantage of opportunities to acquire assets with upside potential; the Company’s ability to execute on its strategic plan to evaluate and close potential M&A opportunities; our long-term outlook; our preparation for future market conditions; and any statements or assumptions underlying any of the foregoing. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Accordingly, actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.
Important factors that may cause such differences include, but are not limited to, the decisions of the bankruptcy court; negotiations with Real Alloy’s debtholders, our creditors and any committee approved by the bankruptcy court; negotiations with lenders on the definitive DIP financing, equity investment and post-emergence credit facility documents; the Company’s ability to meet the closing conditions of its DIP financing, equity investment or post-emergence credit facilities; the Debtors’ ability to meet the requirements, and compliance with the terms, including restrictive covenants, of their respective DIP financing arrangements and any other financial arrangement while in Chapter 11 proceedings; changes in our operational or cash needs from the assumptions underlying our DIP budgets and forecasts; changes in our cash needs as compared to our historical operations or our planned reductions in operating expense; adverse litigation; changes in domestic and international demand for recycled aluminum; the cyclical nature and general health of the aluminum industry and related industries; commodity and scrap price fluctuations and our ability to enter into effective commodity derivatives or arrangements to effectively manage our exposure to such commodity price fluctuations; inventory risks, commodity price risks, and energy risks associated with Real Alloy’s buy/sell business model; the impact of tariffs and trade regulations on our operations; the impact of the recently approved U.S. tax legislation and any other changes in U.S. or non-U.S. tax laws on our operations or the value of our NOLs; our ability to successfully identify, acquire and integrate additional companies and businesses that perform and meet expectations after completion of such acquisitions; our ability to achieve future profitability; our ability to control operating costs and other expenses; that general economic conditions may be worse than expected; that competition may increase significantly; changes in laws or government regulations or policies affecting our current business operations and/or our legacy businesses, as well as those risks and uncertainties disclosed under the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Real Industry, Inc.’s Forms 10-Q filed with the Securities and Exchange Commission (“SEC”) on May 10, 2017, August 8, 2017 and November 9, 2017 and Form 10-K filed with the SEC on March 13, 2017, and similar disclosures in subsequent reports filed with the SEC.
(d) EXHIBITS. The following exhibits are filed herewith:
Exhibit 99.1Monthly Operating Report to the Bankruptcy Court, dated February 20, 2018.
EXHIBIT INDEX
Exhibit No. |
|
Description of Exhibit |
|
|
|
|
Monthly Operating Report to the Bankruptcy Court, dated February 20, 2018. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
|
|
REAL INDUSTRY, INC. |
|
|
|
|
|
Date: February 26, 2018 |
|
By: |
/s/ Kelly G. Howard |
|
|
Name: |
Kelly G. Howard |
|
|
Title: |
Executive Vice President and General Counsel |
EXHIBIT 99.1
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: Real Industry, Inc., et al. |
Case No. 17-12464 (KJC) |
Debtors |
Reporting Period: January 1, 2018 – January 31, 2018 |
MONTHLY OPERATING REPORT
Submit copy of report to any official committee appointed in the case.
REQUIRED DOCUMENTS |
Form No. |
Document Attached |
Explanation Attached |
Schedule of Cash Receipts and Disbursements |
MOR-1 |
||
Schedule of Debtor Bank Account Balances |
MOR-1b |
||
Schedule of Professional Fees and Expenses Paid |
MOR-1c |
||
Copies of bank statements |
Available to the U.S. Trustee upon request. |
||
Cash disbursements journals |
Available to the U.S. Trustee upon request. |
||
Statement of Operations |
MOR-2 |
||
Balance Sheet |
MOR-3 |
||
Summary of unpaid post-petition debts |
MOR-4 |
||
Accounts Receivable Aging |
MOR-5 |
||
Debtor Questionnaire |
MOR-5 |
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/ Michael J. Hobey |
|
2/20/2018 |
Signature of Authorized Individual* |
|
Date |
|
|
|
Michael J. Hobey |
|
President and Interim CEO |
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.
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE
------------------------------------------------------ |
|
|
) |
|
|
In re: |
) |
Chapter 11 |
) |
|
|
REAL INDUSTRY, INC., et al. |
) |
Case No. 17-12464 (KJC) |
) |
|
|
Debtors.1 |
) |
(Jointly Administered) |
------------------------------------------------------ |
|
CERTIFICATION REGARDING POST-PETITION BANK ACCOUNT RECONCILIATIONS AND COMPLIANCE AND PAYMENT OF POST-PETITION TAXES
I, Michael J. Hobey, President and Interim Chief Executive Officer of Real Industry, Inc. and its affiliated debtors and debtors-in-possession (collectively, the “Debtors”), hereby certifies as follows:
1. |
Attached to MOR-1 is a listing of the Debtors’ bank accounts, by account number, and the closing balances. These accounts are reconciled monthly in accordance with the Debtors’ ordinary course accounting practices and, together with the Debtors’ bank statements and cash disbursements journals, are available to the United States Trustee upon request. |
2. |
To the best of my knowledge and belief, the Debtors are current on all post-petition taxes, and no post-petition tax amounts are past due. |
/s/ Michael J. Hobey |
|
2/20/2018 |
Michael J. Hobey |
|
Date |
President and Interim Chief Executive Officer |
|
|
1 The Debtors in the above-captioned chapter 11 cases, along with the last four digits of each Debtor’s federal tax identification number, are Real Industry, Inc. (3818), Real Alloy Intermediate Holding, LLC (7447), Real Alloy Holding, Inc. (2396), Real Alloy Recycling, Inc. (9798), Real Alloy Bens Run, LLC (3083), Real Alloy Specialty Products, Inc. (9911), Real Alloy Specification, Inc. (9849), ETS Schaefer, LLC (9350), and RA Mexico Holding, LLC (4620). The principal place of business for the Real Alloy Debtors is 3700 Park East Drive, Suite 300, Beachwood, Ohio 44122.
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: Real Industry, Inc., et al. |
Case No. 17-12464 (KJC) |
Debtors |
Reporting Period: January 1, 2018 – January 31, 2018 |
General Notes
This Monthly Operating Report ("MOR") has been prepared solely for the purpose of complying with the monthly reporting requirements applicable in these bankruptcy cases. The financial information contained herein is unaudited, preliminary in nature, and, as discussed below, not prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). Such financial statements represent the Debtors’ good faith attempt to comply with the requirements of the United States Trustee using resources available. This information is specifically limited to the reporting period and limited in scope to the requirements of this report. These unaudited financial statements have not been subject to procedures that would typically be applied to financial information presented in accordance with U.S. GAAP, and upon application of such procedures, the Debtors believe that the financial information could be subject to changes which could be material. Certain totals may not sum due to rounding.
The results of operations contained herein are not necessarily indicative of the results which may be expected from any other period or for the full year and may not necessarily reflect the results of operations, financial position and schedule of receipts and disbursements in the future. The amounts in MOR 3 currently classified as liabilities subject to compromise may be subject to future change as the Debtors complete their analysis of pre and post-petition liabilities, including the reconciliation of intercompany balances. The Debtors caution readers not to place undue reliance on the MOR. There can be no assurance that such information is complete and the MOR may be subject to revision.
In re: Real Industry, Inc., et al. |
Case No. 17-12464 (KJC) |
Debtors |
Reporting Period: January 1, 2018 – January 31, 2018 |
SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
|
|
Real |
|
Real |
|
Real |
|
Real |
|
Real |
|
Real |
|
Real |
|
ETS |
|
RA |
|
Total |
|
Total |
|
Notes |
|
|||||||||||
Beginning Cash Balance (Book) |
|
$ |
2,547,898 |
|
$ |
- |
|
$ |
- |
|
$ |
5,817,701 |
|
$ |
- |
|
$ |
- |
|
$ |
- |
|
$ |
444 |
|
$ |
- |
|
$ |
8,366,043 |
|
$ |
4,663,014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash Receipts |
|
|
1,706 |
|
|
- |
|
|
40,400 |
|
|
24,218,037 |
|
|
- |
|
|
1,245,264 |
|
|
38,872,524 |
|
|
676,877 |
|
|
- |
|
|
65,054,806 |
|
|
123,160,936 |
|
|
|
Interest Income |
|
|
104 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
104 |
|
|
427 |
|
|
|
Total Receipts |
|
|
1,810 |
|
|
- |
|
|
40,400 |
|
|
24,218,037 |
|
|
- |
|
|
1,245,264 |
|
|
38,872,524 |
|
|
676,877 |
|
|
- |
|
|
65,054,911 |
|
|
123,161,363 |
|
|
|
Cash Disbursements |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Metals |
|
|
- |
|
|
- |
|
|
- |
|
|
(15,038,489) |
|
|
- |
|
|
(1,261,186) |
|
|
(27,703,948) |
|
|
(272,919) |
|
|
- |
|
|
(44,276,542) |
|
|
(84,217,439) |
|
|
|
Wages, Payroll, HR & Related |
|
|
(140,618) |
|
|
- |
|
|
- |
|
|
(3,039,690) |
|
|
- |
|
|
(115,324) |
|
|
(1,654,711) |
|
|
(273,958) |
|
|
- |
|
|
(5,224,301) |
|
|
(15,782,204) |
|
|
|
Interco w/Canada |
|
|
- |
|
|
- |
|
|
- |
|
|
(62,058) |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
(62,058) |
|
|
(1,036,786) |
|
|
|
Freight |
|
|
- |
|
|
- |
|
|
- |
|
|
(1,086,473) |
|
|
- |
|
|
(46,183) |
|
|
(945,160) |
|
|
(10,602) |
|
|
- |
|
|
(2,088,418) |
|
|
(4,681,298) |
|
|
|
Flux |
|
|
- |
|
|
- |
|
|
- |
|
|
(582,187) |
|
|
- |
|
|
- |
|
|
(267,275) |
|
|
- |
|
|
- |
|
|
(849,462) |
|
|
(2,121,513) |
|
|
|
Banking & Financial |
|
|
- |
|
|
- |
|
|
- |
|
|
(900,349) |
|
|
- |
|
|
(11,964) |
|
|
(52,118) |
|
|
- |
|
|
- |
|
|
(964,431) |
|
|
(2,277,529) |
|
|
|
Packaging & Storage |
|
|
- |
|
|
- |
|
|
- |
|
|
(162,177) |
|
|
- |
|
|
(13,439) |
|
|
(37,718) |
|
|
(3,594) |
|
|
- |
|
|
(216,929) |
|
|
(421,676) |
|
|
|
Industrial Waste |
|
|
- |
|
|
- |
|
|
- |
|
|
(457,609) |
|
|
- |
|
|
(4,107) |
|
|
(21,744) |
|
|
- |
|
|
- |
|
|
(483,460) |
|
|
(843,566) |
|
|
|
Interco w/Goodyear |
|
|
- |
|
|
- |
|
|
- |
|
|
(203,695) |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
(203,695) |
|
|
(562,296) |
|
|
|
Insurance |
|
|
- |
|
|
- |
|
|
- |
|
|
(301,921) |
|
|
- |
|
|
- |
|
|
(38,497) |
|
|
- |
|
|
- |
|
|
(340,418) |
|
|
(573,871) |
|
|
|
SG&A & Other |
|
|
15,461 |
|
|
- |
|
|
(86,554) |
|
|
(1,141,615) |
|
|
(15,537) |
|
|
(17,270) |
|
|
(453,010) |
|
|
(52,050) |
|
|
- |
|
|
(1,750,574) |
|
|
(3,270,618) |
|
|
|
Tax Authority |
|
|
- |
|
|
- |
|
|
- |
|
|
(94,560) |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
(94,560) |
|
|
(267,895) |
|
|
|
Equipment, Parts, Supplies & Related |
|
|
- |
|
|
- |
|
|
- |
|
|
(868,803) |
|
|
- |
|
|
(72,407) |
|
|
(393,983) |
|
|
(114,263) |
|
|
- |
|
|
(1,449,456) |
|
|
(2,241,124) |
|
|
|
Construction/Fabrication |
|
|
- |
|
|
- |
|
|
- |
|
|
(221,744) |
|
|
- |
|
|
(1,231) |
|
|
(12,600) |
|
|
- |
|
|
- |
|
|
(235,574) |
|
|
(365,289) |
|
|
|
Chemicals & Lubricants |
|
|
- |
|
|
- |
|
|
- |
|
|
(273,660) |
|
|
- |
|
|
(3,241) |
|
|
(146,069) |
|
|
- |
|
|
- |
|
|
(422,970) |
|
|
(581,722) |
|
|
|
Cleaning & Waste Management |
|
|
- |
|
|
- |
|
|
- |
|
|
(216,722) |
|
|
- |
|
|
- |
|
|
(55,713) |
|
|
- |
|
|
- |
|
|
(272,435) |
|
|
(385,709) |
|
|
|
Utilities |
|
|
- |
|
|
- |
|
|
- |
|
|
(1,370,216) |
|
|
(139) |
|
|
(18,060) |
|
|
(511,245) |
|
|
(4,344) |
|
|
- |
|
|
(1,904,004) |
|
|
(2,482,432) |
|
|
|
Total Operating Disbursements |
|
|
(125,157) |
|
|
- |
|
|
(86,554) |
|
|
(26,021,967) |
|
|
(15,677) |
|
|
(1,564,410) |
|
|
(32,293,790) |
|
|
(731,730) |
|
|
- |
|
|
(60,839,285) |
|
|
(122,112,969) |
|
(A) |
|
Restructuring Related Disbursements |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Professional Fees |
|
|
- |
|
|
- |
|
|
(720,966) |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
(720,966) |
|
|
(1,537,629) |
|
|
|
Adequate Assurance Deposit |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
(2,102,947) |
|
|
|
Deposit - Derivatives |
|
|
- |
|
|
- |
|
|
(2,500,000) |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
(2,500,000) |
|
|
(2,500,000) |
|
|
|
US Trustee Fees |
|
|
(4,875) |
|
|
(325) |
|
|
(9,750) |
|
|
(30,000) |
|
|
(325) |
|
|
(6,500) |
|
|
(20,000) |
|
|
(4,875) |
|
|
(325) |
|
|
(76,975) |
|
|
(76,975) |
|
|
|
Total Restructuring Related Disbursements |
|
|
(4,875) |
|
|
(325) |
|
|
(3,230,716) |
|
|
(30,000) |
|
|
(325) |
|
|
(6,500) |
|
|
(20,000) |
|
|
(4,875) |
|
|
(325) |
|
|
(3,297,941) |
|
|
(6,217,551) |
|
(A) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Cash Flow Prior to Financing Activities |
|
|
(128,222) |
|
|
(325) |
|
|
(3,276,871) |
|
|
(1,833,931) |
|
|
(16,002) |
|
|
(325,646) |
|
|
6,558,734 |
|
|
(59,728) |
|
|
(325) |
|
|
917,684 |
|
|
(5,169,157) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financing Activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIP Term Loan Borrowings |
|
|
4,000,000 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
4,000,000 |
|
|
44,000,000 |
|
|
|
DIP Term Loan Fees |
|
|
(200,000) |
|
|
- |
|
|
- |
|
|
(1,479,444) |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
(1,679,444) |
|
|
(5,404,444) |
|
(A) |
|
DIP ABL Borrowings |
|
|
- |
|
|
- |
|
|
- |
|
|
65,373,242 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
65,373,242 |
|
|
133,472,151 |
|
|
|
DIP ABL Paydown |
|
|
- |
|
|
- |
|
|
- |
|
|
(62,346,895) |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
(62,346,895) |
|
|
(62,432,053) |
|
(A) |
|
DIP ABL Fees and Interest |
|
|
- |
|
|
- |
|
|
- |
|
|
(383,323) |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
(383,323) |
|
|
(1,485,322) |
|
(A) |
|
Pre-Petition ABL Paydown |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
(93,297,972) |
|
(A) |
|
Pre-Petition Fees and Interest |
|
|
- |
|
|
- |
|
|
- |
|
|
(31,609) |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
(31,609) |
|
|
(130,518) |
|
(A) |
|
Total Financing Activities |
|
|
3,800,000 |
|
|
- |
|
|
- |
|
|
1,131,970 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
4,931,970 |
|
|
14,721,841 |
|
|
|
Net Cash Flow |
|
|
3,671,778 |
|
|
(325) |
|
|
(3,276,871) |
|
|
(701,960) |
|
|
(16,002) |
|
|
(325,646) |
|
|
6,558,734 |
|
|
(59,728) |
|
|
(325) |
|
|
5,849,655 |
|
|
9,552,684 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash Sweep |
|
|
- |
|
|
325 |
|
|
3,276,871 |
|
|
2,960,014 |
|
|
16,002 |
|
|
325,646 |
|
|
(6,558,734) |
|
|
(20,448) |
|
|
325 |
|
|
0 |
|
|
(0) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending Cash Balance (Book) |
|
$ |
6,219,676 |
|
$ |
- |
|
$ |
- |
|
$ |
8,075,754 |
|
$ |
- |
|
$ |
- |
|
$ |
- |
|
$ |
(79,732) |
|
$ |
- |
|
$ |
14,215,698 |
|
$ |
14,215,698 |
|
|
|
Disbursements for Calculating Quarterly |
|
$ |
330,032 |
|
$ |
325 |
|
$ |
3,317,270 |
|
$ |
90,293,239 |
|
$ |
16,002 |
|
$ |
1,570,910 |
|
$ |
32,313,790 |
|
$ |
736,605 |
|
$ |
325 |
|
$ |
128,578,498 |
|
$ |
291,080,830 |
|
|
|
Notes:
(A) In the November 2017 Monthly Operating Report ("MOR"), the Debtors reported two bank account balances totaling $122,182 as accounts of the Debtors that subsequently were determined to be non-debtor bank accounts. The
beginning cash balances have been adjusted to reflect this correction.
MOR-1: Schedule of Receipts and Disbursements
In re: Real Industry, Inc., et al. |
Case No. 17-12464 (KJC) |
Debtors |
Reporting Period: January 1, 2018 – January 31, 2018 |
SCHEDULE OF DEBTOR BANK ACCOUNT BALANCES*
Bank Account |
|
Bank |
|
Real |
|
Real Alloy |
|
Real Alloy |
|
Real Alloy |
|
Real Alloy |
|
Real |
|
Real Alloy |
|
ETS Schaefer, |
|
RA |
|
Consolidated |
|
||||||||||
xxxxx09712 - ETS Schaefer LLC Receipts |
|
Bank of America |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,293 |
|
|
|
|
|
|
|
$ |
1,293 |
|
xxxxx31011 - ETS Schaefer LLC Disbursements |
|
Bank of America |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
85,271 |
|
|
|
|
|
|
|
$ |
85,271 |
|
xxxxx31030 - Real Alloy Recycling Inc Payroll Account |
|
Bank of America |
|
|
|
|
|
|
|
|
|
|
|
197,787 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
197,787 |
|
xxxxx31016 - Real Alloy Recycling Inc Accounts Payable |
|
Bank of America |
|
|
|
|
|
|
|
|
|
|
|
2,716,511 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
2,716,511 |
|
xxxxx09675 - Real Alloy Recycling Inc 3rd Party Funding Account |
|
Bank of America |
|
|
|
|
|
|
|
|
|
|
|
231,719 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
231,719 |
|
xxxxx09656 - Real Alloy Recycling Inc Receivables Account |
|
Bank of America |
|
|
|
|
|
|
|
|
|
|
|
193,273 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
193,273 |
|
xxxxx09651 - Real Alloy Recycling Inc Concentration Account |
|
Bank of America |
|
|
|
|
|
|
|
|
|
|
|
3,272 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
3,272 |
|
xxxxx09670 - Real Alloy Recycling Inc Adequate Assurance Account |
|
Bank of America |
|
|
|
|
|
|
|
|
|
|
|
1,295,144 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,295,144 |
|
xxxxx75014 - Real Alloy Holding, Inc Corp Trust (GBP) |
|
Bank of America |
|
|
|
|
|
|
|
|
161,054 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
161,054 |
|
xxxxx75022 - Real Alloy Holding, Inc Corp Trust (EUR) |
|
Bank of America |
|
|
|
|
|
|
|
|
614 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
614 |
|
xxxxxx4386 - Real Alloy Recycling Inc Concentration Account |
|
Wintrust |
|
|
|
|
|
|
|
|
|
|
|
3,851 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
3,851 |
|
xxxxxx87819 - Real Alloy Holding, Inc Bondholder Escrow Account |
|
JP Morgan Chase |
|
|
|
|
|
|
|
|
4,999,975 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
4,999,975 |
|
xxxxx23243 - Real Industry Inc Collateral Account for Letter of Credit |
|
Wells Fargo |
|
|
722,184 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
722,184 |
|
xxxxx96415 - Real Industry, Inc |
|
Wells Fargo |
|
|
5,533,027 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
5,533,027 |
|
|
|
|
|
$ |
6,255,212 |
|
$ |
- |
|
$ |
5,161,642 |
|
$ |
4,641,558 |
|
$ |
- |
|
$ |
- |
|
$ |
- |
|
$ |
86,563 |
|
$ |
- |
|
$ |
16,144,975 |
|
*Balances per bank records as of January 31, 2018.
MOR-1b: Schedule of Bank Account Balances
In re: Real Industry, Inc., et al. |
Case No. 17-12464 (KJC) |
Debtors |
Reporting Period: January 1, 2018 – January 31, 2018 |
SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID
|
|
|
|
|
|
|
|
CHECK |
|
AMOUNT PAID |
|
CUMULATIVE PAID |
|
|||||||||||
PAYEE |
|
PERIOD |
|
AMOUNT |
|
PAYOR |
|
NUMBER |
|
DATE |
|
FEES |
|
EXPENSES |
|
FEES |
|
EXPENSES |
|
|||||
Alvarez & Marsal Securities, LLC |
|
Jan-18 |
|
$ |
129,144 |
|
Real Alloy Holding, Inc |
|
Wire |
|
Jan-18-2018 |
|
$ |
125,000 |
|
$ |
4,144 |
|
$ |
251,172 |
|
$ |
4,144 |
|
Berkeley Research Group, LLC |
|
Jan-18 |
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
130,868 |
|
|
7,765 |
|
Latham & Watkins LLP |
|
Jan-18 |
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
447,275 |
|
|
54,583 |
|
Prime Clerk |
|
Jan-18 |
|
|
- |
|
|
|
|
|
|
|
|
- |
|
|
- |
|
|
50,000 |
|
|
- |
|
Brown Ruddick |
|
Jan-18 |
|
|
285,182 |
|
Real Alloy Holding, Inc |
|
Wire |
|
Jan-31-2018 |
|
|
277,851 |
|
|
7,332 |
|
|
277,851 |
|
|
7,332 |
|
Young Conaway Stargatt & Taylor, LLP |
|
Jan-18 |
|
|
24,108 |
|
Real Alloy Holding, Inc |
|
ACH |
|
Jan-10-2018 |
|
|
23,485 |
|
|
623 |
|
|
23,485 |
|
|
623 |
|
Goldberg Kohn Bell Black |
|
Jan-18 |
|
|
141,945 |
|
Real Alloy Holding, Inc |
|
Wire |
|
Jan-10-2018 |
|
|
141,945 |
|
|
- |
|
|
141,945 |
|
|
- |
|
Environmental Resources Management |
|
Jan-18 |
|
|
137,000 |
|
Real Alloy Holding, Inc |
|
1100040402 |
|
Jan-17-2018 |
|
|
137,000 |
|
|
- |
|
|
137,000 |
|
|
- |
|
Smartroom |
|
Jan-18 |
|
|
3,587 |
|
Real Alloy Holding, Inc |
|
ACH |
|
Jan-17-2018 |
|
|
3,587 |
|
|
- |
|
|
3,587 |
|
|
- |
|
|
|
|
|
$ |
720,966 |
|
|
|
|
|
|
|
$ |
708,868 |
|
$ |
12,099 |
|
$ |
1,463,182 |
|
$ |
74,447 |
|
MOR-1c: Schedule of Professional Fees and Expenses Paid
In re: Real Industry, Inc., et al. |
Case No. 17-12464 (KJC) |
Debtors |
Reporting Period: January 1, 2018 – January 31, 2018 |
CONSOLIDATING STATEMENT OF OPERATIONS
|
|
Total Filer |
|
Eliminations |
|
Real |
|
Real Alloy |
|
Real Alloy |
|
Real Alloy |
|
Real Alloy |
|
Real Alloy |
|
ETS |
|
Real Alloy |
|
RA Mexico |
|
Total Filer |
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Revenue |
|
$ |
53,185,167 |
|
$ |
(4,807,896) |
|
$ |
104 |
|
$ |
- |
|
$ |
- |
|
$ |
25,313,782 |
|
$ |
30,443,181 |
|
$ |
1,428,286 |
|
$ |
807,710 |
|
$ |
- |
|
$ |
- |
|
$ |
124,517,977 |
Total Cost of Sales |
|
|
50,900,888 |
|
|
(4,807,896) |
|
|
- |
|
|
- |
|
|
- |
|
|
24,242,642 |
|
|
29,300,098 |
|
|
1,467,783 |
|
|
683,696 |
|
|
14,565 |
|
|
- |
|
|
118,248,642 |
Gross Profits |
|
|
2,284,279 |
|
|
- |
|
|
104 |
|
|
- |
|
|
- |
|
|
1,071,140 |
|
|
1,143,083 |
|
|
(39,497) |
|
|
124,014 |
|
|
(14,565) |
|
|
- |
|
|
6,269,335 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total SGA Expenses |
|
|
4,425,118 |
|
|
- |
|
|
153,260 |
|
|
- |
|
|
1,403,624 |
|
|
2,654,493 |
|
|
171,978 |
|
|
41,763 |
|
|
- |
|
|
- |
|
|
- |
|
|
10,820,141 |
Total (Gains) Losses on Derivative Financial Instruments |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
(16,691) |
Other Operating (Income) Expense - Net |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
64,860 |
Operating Income (Loss) |
|
|
(2,140,839) |
|
|
- |
|
|
(153,156) |
|
|
- |
|
|
(1,403,624) |
|
|
(1,583,353) |
|
|
971,105 |
|
|
(81,260) |
|
|
124,014 |
|
|
(14,565) |
|
|
- |
|
|
(4,598,975) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Interest Expense & Fees |
|
|
4,177,812 |
|
|
- |
|
|
- |
|
|
- |
|
|
2,433,498 |
|
|
1,738,459 |
|
|
5,324 |
|
|
508 |
|
|
23 |
|
|
- |
|
|
- |
|
|
8,752,948 |
Total Foreign Currency Gains/Losses |
|
|
(1,586,275) |
|
|
- |
|
|
- |
|
|
- |
|
|
(1,578,500) |
|
|
(7,775) |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
(2,578,255) |
Net Mgmt Fee Expense (Income) |
|
|
223,043 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
223,043 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
464,786 |
Other Expenses |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
(182) |
Income Before Taxes |
|
|
(4,955,419) |
|
|
- |
|
|
(153,156) |
|
|
- |
|
|
(2,258,622) |
|
|
(3,537,080) |
|
|
965,781 |
|
|
(81,768) |
|
|
123,991 |
|
|
(14,565) |
|
|
- |
|
|
(11,238,272) |
Income Tax Expenses |
|
|
5,750 |
|
|
- |
|
|
- |
|
|
- |
|
|
5,750 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
9,439 |
Net Income From Continuing Operations |
|
|
(4,961,169) |
|
|
- |
|
|
(153,156) |
|
|
- |
|
|
(2,264,372) |
|
|
(3,537,080) |
|
|
965,781 |
|
|
(81,768) |
|
|
123,991 |
|
|
(14,565) |
|
|
- |
|
|
(11,247,711) |
Net Income |
|
$ |
(4,961,169) |
|
$ |
- |
|
$ |
(153,156) |
|
$ |
- |
|
$ |
(2,264,372) |
|
$ |
(3,537,080) |
|
$ |
965,781 |
|
$ |
(81,768) |
|
$ |
123,991 |
|
$ |
(14,565) |
|
$ |
- |
|
$ |
(11,247,711) |
MOR-2: Statement of Operations
In re: Real Industry, Inc., et al. |
Case No. 17-12464 (KJC) |
Debtors |
Reporting Period: January 1, 2018 – January 31, 2018 |
CONSOLIDATING BALANCE SHEET
|
|
Total Filer |
|
Eliminations |
|
Real |
|
Real Alloy |
|
Real Alloy |
|
Real Alloy |
|
Real Alloy |
|
Real Alloy |
|
ETS |
|
Real Alloy |
|
Real Alloy |
|
|||||||||||
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Cash & Equivalents |
|
$ |
14,215,698 |
|
$ |
- |
|
$ |
6,219,676 |
|
$ |
- |
|
$ |
- |
|
$ |
8,075,754 |
|
$ |
- |
|
$ |
- |
|
$ |
(79,732) |
|
$ |
- |
|
$ |
- |
|
Net Accounts Receivable |
|
|
71,567,917 |
|
|
- |
|
|
2,769 |
|
|
- |
|
|
(44,291) |
|
|
27,236,845 |
|
|
42,034,891 |
|
|
1,097,471 |
|
|
1,240,232 |
|
|
- |
|
|
- |
|
Total Current Interco Receivable |
|
|
30,337,581 |
|
|
(553,242) |
|
|
- |
|
|
- |
|
|
(38,584,357) |
|
|
13,764,426 |
|
|
47,049,254 |
|
|
8,570,458 |
|
|
665,883 |
|
|
(574,841) |
|
|
- |
|
Net Inventories |
|
|
60,374,107 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
22,570,028 |
|
|
32,897,999 |
|
|
4,306,508 |
|
|
599,572 |
|
|
- |
|
|
- |
|
Total Prepaid Expenses |
|
|
20,841,720 |
|
|
- |
|
|
871,669 |
|
|
- |
|
|
18,967 |
|
|
12,439,674 |
|
|
7,388,388 |
|
|
123,022 |
|
|
- |
|
|
- |
|
|
- |
|
Total Other Current Assets |
|
|
13,020,292 |
|
|
- |
|
|
- |
|
|
- |
|
|
803,371 |
|
|
8,899,789 |
|
|
2,944,061 |
|
|
373,071 |
|
|
- |
|
|
- |
|
|
- |
|
Total Current Assets |
|
|
210,357,316 |
|
|
(553,242) |
|
|
7,094,115 |
|
|
- |
|
|
(37,806,310) |
|
|
92,986,516 |
|
|
132,314,593 |
|
|
14,470,530 |
|
|
2,425,955 |
|
|
(574,841) |
|
|
- |
|
Property, Plant & Equipment, Net |
|
|
148,356,948 |
|
|
- |
|
|
28,495 |
|
|
- |
|
|
- |
|
|
100,747,624 |
|
|
39,961,969 |
|
|
3,154,810 |
|
|
2,549,688 |
|
|
1,914,362 |
|
|
- |
|
Other Intangibles, Net |
|
|
9,916,667 |
|
|
- |
|
|
- |
|
|
- |
|
|
9,916,667 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
Total Equity Investments in Subs |
|
|
68,990,987 |
|
|
(509,628,415) |
|
|
156,587,624 |
|
|
- |
|
|
303,469,839 |
|
|
118,561,938 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
1 |
|
Total Hedges, L/T |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
Total L/T Deferred Tax Assets |
|
|
(176,343) |
|
|
- |
|
|
(176,343) |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
Total L/T Interco Receivable |
|
|
87,713,299 |
|
|
(35,581,838) |
|
|
28,214,444 |
|
|
- |
|
|
59,498,855 |
|
|
35,581,838 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
Other L/T Assets, Net |
|
|
7,771,638 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
7,474,194 |
|
|
290,132 |
|
|
7,948 |
|
|
- |
|
|
(636) |
|
|
- |
|
Total Assets |
|
$ |
532,930,512 |
|
$ |
(545,763,495) |
|
$ |
191,748,335 |
|
$ |
- |
|
$ |
335,079,051 |
|
$ |
355,352,110 |
|
$ |
172,566,694 |
|
$ |
17,633,288 |
|
$ |
4,975,643 |
|
$ |
1,338,885 |
|
$ |
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES & STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Accounts Payable |
|
$ |
26,943,528 |
|
$ |
- |
|
$ |
23,080 |
|
$ |
- |
|
$ |
316,175 |
|
$ |
16,200,341 |
|
$ |
9,265,561 |
|
$ |
905,628 |
|
$ |
217,135 |
|
$ |
15,608 |
|
$ |
- |
|
Accrued & Other Current Liabilities (A) |
|
|
7,278,281 |
|
|
- |
|
|
784,654 |
|
|
- |
|
|
170,000 |
|
|
4,360,350 |
|
|
1,661,449 |
|
|
105,161 |
|
|
150,690 |
|
|
45,977 |
|
|
- |
|
Total F/V S/T Hedge Liab. Contracts |
|
|
30,495 |
|
|
- |
|
|
- |
|
|
- |
|
|
30,495 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
Toll Liability |
|
|
5,116,913 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
283,064 |
|
|
4,833,849 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
Accrued Interest |
|
|
3,666,988 |
|
|
- |
|
|
- |
|
|
- |
|
|
3,494,444 |
|
|
172,544 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
Total Cur. Def. Tax Liability |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
Total Current Interco Payable |
|
|
25,347,453 |
|
|
(552,504) |
|
|
4,892 |
|
|
- |
|
|
11,838,971 |
|
|
14,291,794 |
|
|
3,123,749 |
|
|
423,900 |
|
|
(3,783,349) |
|
|
- |
|
|
- |
|
Current Maturities of L/T Debt |
|
|
280,785,515 |
|
|
- |
|
|
3,800,000 |
|
|
- |
|
|
167,190,081 |
|
|
109,140,648 |
|
|
599,315 |
|
|
53,664 |
|
|
1,807 |
|
|
- |
|
|
- |
|
Liabilities of Discontinued Operations - Current |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
Total Current Liabilities |
|
|
349,169,173 |
|
|
(552,504) |
|
|
4,612,626 |
|
|
- |
|
|
183,040,167 |
|
|
144,448,741 |
|
|
19,483,923 |
|
|
1,488,353 |
|
|
(3,413,717) |
|
|
61,585 |
|
|
- |
|
Total L/T Debt |
|
|
2,178,055 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
1,323,744 |
|
|
776,068 |
|
|
72,578 |
|
|
5,665 |
|
|
- |
|
|
- |
|
Total L/T I/C Payable |
|
|
(9,934,368) |
|
|
(35,582,577) |
|
|
- |
|
|
- |
|
|
25,359,981 |
|
|
288,227 |
|
|
1 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
Total Other L/T Liabilities (B) |
|
|
12,154,821 |
|
|
- |
|
|
2,023,154 |
|
|
- |
|
|
- |
|
|
4,189,245 |
|
|
5,844,772 |
|
|
72,650 |
|
|
25,000 |
|
|
- |
|
|
- |
|
Total L/T Liabilities |
|
|
4,398,508 |
|
|
(35,582,577) |
|
|
2,023,154 |
|
|
- |
|
|
25,359,981 |
|
|
5,801,216 |
|
|
6,620,841 |
|
|
145,228 |
|
|
30,665 |
|
|
- |
|
|
- |
|
Total Liabilities - Subject to Compromise - External |
|
|
220,617,798 |
|
|
|
|
|
29,291,990 |
|
|
- |
|
|
145,797,890 |
|
|
21,595,898 |
|
|
22,429,252 |
|
|
930,059 |
|
|
545,419 |
|
|
27,289 |
|
|
- |
|
Total Liabilities - Subject to Compromise - Internal |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
Total Liabilities - Subject to Compromise |
|
|
220,617,798 |
|
|
- |
|
|
29,291,990 |
|
|
- |
|
|
145,797,890 |
|
|
21,595,898 |
|
|
22,429,252 |
|
|
930,059 |
|
|
545,419 |
|
|
27,289 |
|
|
- |
|
Total Liabilities |
|
|
574,185,479 |
|
|
(36,135,081) |
|
|
35,927,770 |
|
|
- |
|
|
354,198,038 |
|
|
171,845,855 |
|
|
48,534,016 |
|
|
2,563,640 |
|
|
(2,837,633) |
|
|
88,874 |
|
|
- |
|
Stockholders' Equity: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock - Total |
|
|
29,807 |
|
|
- |
|
|
29,807 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
Additional Paid-In Capital - Total |
|
|
544,495,523 |
|
|
(509,628,414) |
|
|
544,495,523 |
|
|
- |
|
|
173,259,645 |
|
|
222,511,312 |
|
|
99,016,761 |
|
|
8,906,982 |
|
|
3,940,748 |
|
|
1,992,965 |
|
|
1 |
|
Retained Earnings |
|
|
(575,024,595) |
|
|
- |
|
|
(388,704,764) |
|
|
- |
|
|
(181,622,931) |
|
|
(39,005,057) |
|
|
25,015,917 |
|
|
6,162,666 |
|
|
3,872,528 |
|
|
(742,954) |
|
|
- |
|
Total Other Comprehensive Income/(Loss) |
|
|
(10,755,701) |
|
|
- |
|
|
|
|
|
- |
|
|
(10,755,701) |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
Total Stockholders' Equity |
|
|
(41,254,967) |
|
|
(509,628,414) |
|
|
155,820,565 |
|
|
- |
|
|
(19,118,987) |
|
|
183,506,255 |
|
|
124,032,678 |
|
|
15,069,648 |
|
|
7,813,276 |
|
|
1,250,011 |
|
|
1 |
|
Total Liabilities & Equity |
|
$ |
532,930,512 |
|
$ |
(545,763,495) |
|
$ |
191,748,335 |
|
$ |
- |
|
$ |
335,079,051 |
|
$ |
355,352,110 |
|
$ |
172,566,694 |
|
$ |
17,633,288 |
|
$ |
4,975,643 |
|
$ |
1,338,885 |
|
$ |
1 |
|
Notes:
(A) Includes certain prepetition claims for wages and taxes approved by the Court and costs related to potential future environmental remediation.
(B) Includes costs related to potential future environmental remediation and tax liabilities.
MOR-3: Balance Sheet
In re: Real Industry, Inc., et al. |
Case No. 17-12464 (KJC) |
Debtors |
Reporting Period: January 1, 2018 – January 31, 2018 |
SUMMARY OF UNPAID POST-PETITION DEBTS
|
|
Current |
|
Accounts Payable |
|
$ |
26,943,528 |
MOR-4: Summary of Unpaid Post-Petition Debts
In re: Real Industry, Inc., et al. |
Case No. 17-12464 (KJC) |
Debtors |
Reporting Period: January 1, 2018 – January 31, 2018 |
ACCOUNTS RECEIVABLE AGING
Accounts Receivable Aging |
|
0-30 Days |
|
31-60 Days |
|
61-90 Days |
|
91 Days + |
|
Total |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts Receivable |
|
$ |
68,839,130 |
|
$ |
2,017,647 |
|
$ |
1,100,075 |
|
$ |
24,944 |
|
$ |
71,981,796 |
Unapplied Funds |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(122,879) |
Allowance for Doubtful Accounts |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(291,000) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
71,567,917 |
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? |
|
X |
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. |
|
X |
3. Have all post petition tax returns been timely filed? If no, provide an explanation below. |
X |
|
4. Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below. |
X |
|
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. (1) |
|
X |
MOR-5: Accounts Receivable Aging AND Debtor Questionnaire
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