Decor Holdings, Inc - MORs - Global NotesIn re The Robert Allen Duralee Group Furniture LLC Case No....

Case 8-19-71020-reg Doc 166 Filed 03/22/19 Entered 03/22/19 10:26:04

UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF NEW YORK ---------------------------------------------------------------------- X In re: Décor Holdings, Inc., et al.,1 Debtors.

: : : : : : : : : :

Chapter 11 Case No. 19-71020 (REG) Case No. 19-71022 (REG) Case No. 19-71023 (REG) Case No. 19-71024 (REG) Case No. 19-71025 (REG) Jointly Administered

---------------------------------------------------------------------- X

GLOBAL NOTES REGARDING DEBTORS’ MONTHLY OPERATING REPORT

This Monthly Operating Report (“MOR”) has been prepared solely for the purpose of complying with the monthly reporting requirements applicable in these chapter 11 cases and is in a form acceptable to the United States Trustee. The financial information contained in the MOR is preliminary and unaudited, and as such may be subject to revision. The information in the MOR should not be viewed as indicative of future results.

While the Debtors’ management has made reasonable efforts to ensure that the MOR is accurate and complete, based upon information that was available to them at the time of preparation, subsequent information may result in material changes to the MOR. These global notes regarding the Debtors’ MOR comprise an integral part of the MOR and should be considered in connection with any review of the MOR.

Limitations

Basis of Presentation. The financial information contained herein is unaudited and preliminary. In preparing the MOR, the Debtors relied on financial data derived from their books and records that was available at the time of preparation. Subsequent information or discovery may result in material changes to the MOR and errors or omissions may exist. As such, beginning account balances may be updated, which may cause some inconsistencies in form and/or substance relative to data reported in previous MORs. Notwithstanding any

1 The Debtors in these chapter 11 cases, along with the last four digits of each Debtor’s federal tax identification number, are: Décor Holdings, Inc. (4174); Décor Intermediate Holdings LLC (5414); The Robert Allen Duralee Group, Inc. (8435); The Robert Allen Duralee Group, LLC (1798); and The Robert Allen Duralee Group Furniture, LLC (2835). The corporate headquarters and the mailing address for the Debtors listed above is 49 Wireless Boulevard, Suite 150, Hauppauge, NY 11788. The Debtors also maintain a separate corporate office at 2 Hampshire Street, Suite 300, Foxboro, MA 02035.


2

such discovery, new information, or errors or omissions, the Debtors do not undertake any obligation or commitment to update the MOR.

Reporting Period. Unless otherwise noted herein, the MOR generally reflects the Debtors’ books and records and financial activity occurring during the applicable reporting period. Except as otherwise noted, no adjustments have been made for activity occurring after the close of the reporting period.

Accuracy. The financial information disclosed herein was not prepared in accordance with federal or state securities laws or other applicable non‐bankruptcy law or in lieu of complying with any periodic reporting requirements thereunder. Persons and entities trading in or otherwise purchasing, selling, or transferring claims against the Debtors should evaluate this financial information in light of the purposes for which it was prepared. The Debtors disclaim any liability for and undertake no responsibility to indicate variations from securities laws or for any evaluations of the Debtors based on this financial information or any other information.

Liabilities Subject to Compromise. As of the date of this MOR, certain bar dates have been set for the filing or assertion of claims against the Debtors. However, the bar dates have not passed and the Debtors have not completed their reconciliation of any such claims that have already been submitted. Accordingly, the amounts currently classified as liabilities subject to compromise are estimates and are subject to future change and adjustment.

Reservation of Rights. The Debtors reserve all rights to amend or supplement the MOR in all respects, as may be necessary or appropriate. Nothing contained in this MOR shall constitute a waiver of any of the Debtors’ rights or an admission with respect to their chapter 11 cases.


In re The Robert Allen Duralee Group Furniture LLC Case No. 19-71025 (REG)Debtor Reporting Period: February 12-23, 2019

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

ACCOUNT NUMBER (LAST 4)

COLLECTION(1101)

OPERATING(1119)

TAX OTHER CURRENT MONTH ACTUAL (TOTAL OF

ALL ACCOUNTS)

CASH BEGINNING OF MONTH 0.00 0.00 0.00 RECEIPTSCASH SALESACCOUNTS RECEIVABLE - PREPETITION

57,814.83 57,814.83

ACCOUNTS RECEIVABLE - POSTPETITION

-

LOANS AND ADVANCES - SALE OF ASSETS - OTHER 13,586.31 13,586.31 TRANSFERS (FROM DIP ACCTS) 16,310.52 16,310.52

TOTAL RECEIPTS 71,401.14 16,310.52 87,711.66 DISBURSEMENTSNET PAYROLLPAYROLL TAXES SALES, USE, & OTHER TAXES INVENTORY PURCHASES 6,941.32 6,941.32 SECURED/ RENTAL/ LEASES - INSURANCE - ADMINISTRATIVE (cc fees) 9,369.20 9,369.20 SELLING - OTHER - OWNER DRAW * - TRANSFERS (TO DIP ACCTS) 71,401.14 71,401.14 PROFESSIONAL FEESU.S. TRUSTEE QUARTERLY FEESCOURT COSTSTOTAL DISBURSEMENTS 71,401.14 16,310.52 - - 87,711.66

NET CASH FLOW(RECEIPTS LESS DISBURSEMENTS)

CASH – END OF MONTH 0.00 0.00 0.00 (ZBA ACCOUNT) (ZBA ACCOUNT)

* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE

DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN)

-

16,310.52

TOTAL DISBURSEMENTS LESS: TRANSFERS TO OTHER DEBTOR IN

POSSESSION ACCOUNTS PLUS: ESTATE DISBURSEMENTS MADE BY

OUTSIDE SOURCES (i.e. from escrow accounts)TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES

71,401.14 55,090.62

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

THE FOLLOWING SECTION MUST BE COMPLETED

-

BANK ACCOUNTS

-

FORM MOR-12/2008

PAGE 1 OF 10



Continuation Sheet for MOR-1A bank reconciliation must be included for each bank account. The debtor's bank reconciliation may be substituted for this page.(Bank account numbers may be redacted to last four numbers.)

COLLECTION(1101)

ZBA account

OPERATING(1119)

ZBA account

Tax Other

BALANCE PER BOOKS

-

BANK BALANCE - (+) DEPOSITS IN TRANSIT (ATTACH LIST)

-

(-) OUTSTANDING CHECKS (ATTACH LIST) :

-

OTHER (ATTACH EXPLANATION)

-

ADJUSTED BANK BALANCE *

-

*"Adjusted Bank Balance" must equal "Balance per Books"

DEPOSITS IN TRANSIT Date Amount Date Amount

0 -

0 -

CHECKS OUTSTANDING Ck. # Amount Ck. # Amount

N/A

OTHER

BANK RECONCILIATIONS

FORM MOR-1 (CONT.)2/2008

PAGE 2 OF 10



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

REVENUES MONTH 02/12/19-02/22/19

CUMULATIVE -FILING TO

DATEGross Revenues 10,467.00 10,467.00 Less: Returns and Allowances (21.00) (21.00)Net Revenue 10,446.00 10,446.00 COST OF GOODS SOLDBeginning Inventory 373,572.21 373,572.21 Add: Purchases 7,281.00 7,281.00 Add: Cost of Labor - - Add: Other Costs (attach schedule) - - Less: Ending Inventory (373,572.21) (373,572.21)Cost of Goods Sold 7,281.00 7,281.00 Gross Profit 3,165.00 3,165.00 OPERATING EXPENSESAdvertising - Auto and Truck Expense - - Bad Debts - - Contributions - - Employee Benefits Programs (see 19-71023 (REG)) - - Officer/Insider Compensation* - - Insurance - - Management Fees/Bonuses - - Office Expense 5,000.00 5,000.00 Pension & Profit-Sharing Plans - - Repairs and Maintenance 1,032.00 1,032.00 Rent and Lease Expense - - Payroll (see 19-71023 (REG)) / Commissions 12,542.20 12,542.20 Supplies - - Taxes - Payroll (see 19-71023 (REG)) - - Taxes - Real Estate - - Taxes - Other - - Travel and Entertainment - - Utilities 6,362.46 6,362.46 Other (attach schedule) - - Total Operating Expenses Before Depreciation - - Depreciation/Depletion/Amortization - - Net Profit (Loss) Before Other Income & Expenses 24,936.66 24,936.66 OTHER INCOME AND EXPENSESOther Income (attach schedule) - - Interest Expense (see 19-71023 (REG)) - - Other Expense (attach schedule) - - Net Profit (Loss) Before Reorganization Items 24,936.66 24,936.66

STATEMENT OF OPERATIONS (Income Statement)

FORM MOR-22/2008

PAGE 3 OF 10



REORGANIZATION ITEMSProfessional Fees - - U. S. Trustee Quarterly Fees - - Interest Earned on Accumulated Cash from Chapter 11 (see continuation sheet)

- -

Gain (Loss) from Sale of Equipment - - Other Reorganization Expenses (attach schedule) - - Total Reorganization Expenses - - Income Taxes - - Net Profit (Loss) 24,936.66 24,936.66 *"Insider" is defined in 11 U.S.C. Section 101(31).

BREAKDOWN OF “OTHER” CATEGORY

OTHER COSTS

N/A

OTHER OPERATIONAL EXPENSES

N/A

OTHER INCOMEN/A

OTHER EXPENSESN/A

OTHER REORGANIZATION EXPENSES

N/A

Reorganization Items - Interest Earned on Accumulated Cash from Chapter 11:Interest earned on cash accumulated during the chapter 11 case, which would not have been earned but for the bankruptcy proceeding, should be reported as a reorganization item.

FORM MOR-22/2008

PAGE 4 OF 10



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

ASSETS BOOK VALUE AT END OF CURRENT REPORTING

MONTH

BOOK VALUE AT END OF PRIOR REPORTING

MONTH

BOOK VALUE ON PETITION DATE OR

SCHEDULED

CURRENT ASSETS

Unrestricted Cash and Equivalents - - -Restricted Cash and Cash Equivalents (see continuation sheet) Accounts Receivable (Net) 616,672.10 687,128.84 687,128.84Accounts Receivable Interco Duralee fabrics 1,516,114.26 1,516,114.26 1,516,114.26Inventories 373,572.21 373,572.21 373,572.21Prepaid ExpensesProfessional RetainersOther Current Assets (attach schedule) 66,564.73TOTAL CURRENT ASSETS 2,572,923.30 2,576,815.31 2,576,815.31PROPERTY & EQUIPMENT

Real Property and ImprovementsMachinery and Equipment 22,000.00 22,000.00 22,000.00Furniture, Fixtures and Office Equipment 100,777.37 100,603.26 100,603.26Leasehold Improvements 3,829.99 3,829.99 3,829.99VehiclesLess: Accumulated Depreciation 126,607.36 126,433.25 126,433.25TOTAL PROPERTY & EQUIPMENT - - -OTHER ASSETS

Amounts due from Insiders*Other Assets (attach schedule)TOTAL OTHER ASSETSTOTAL ASSETS 2,572,923.30 2,576,815.31 2,576,815.31

LIABILITIES AND OWNER EQUITY BOOK VALUE AT END OF CURRENT REPORTING

MONTH


MONTH

BOOK VALUE ON PETITION DATE

LIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition)

Accounts Payable - -Taxes Payable (refer to FORM MOR-4)Wages PayableNotes PayableRent / Leases - Building/EquipmentSecured Debt / Adequate Protection PaymentsProfessional FeesAmounts Due to Insiders*Other Post-petition Liabilities (attach schedule) 21,044.65TOTAL POST-PETITION LIABILITIES 21,044.65 - -LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)

Secured DebtPriority DebtUnsecured Debt 909,929.75 909,929.75 909,929.75TOTAL PRE-PETITION LIABILITIES 909,929.75 909,929.75 909,929.75TOTAL LIABILITIES 930,974.40 909,929.75 909,929.75OWNERS' EQUITY

Capital Stock 1,000.00 1,000.00 1,000.00 Additional Paid-In Capital Partners' Capital AccountOwner's Equity AccountRetained Earnings - Pre-Petition 1,665,885.56 1,665,885.56 1,665,885.56 Retained Earnings - Post-petition (24,936.66)Adjustments to Owner Equity (attach schedule)Post-petition Contributions (attach schedule)NET OWNERS’ EQUITY 1,641,948.90 1,666,885.56 1,666,885.56 TOTAL LIABILITIES AND OWNERS' EQUITY 2,572,923.30 2,576,815.31 2,576,815.31 *"Insider" is defined in 11 U.S.C. Section 101(31).

BALANCE SHEET

FORM MOR-32/2008

PAGE 5 OF 10



BALANCE SHEET - continuation sectionASSETS BOOK VALUE AT END

OF CURRENT REPORTING MONTH


MONTH


Other Current AssetsShowroom - promotion equipment and supplies 66,564.73 reclassed from accounts receivable

Other Assets

LIABILITIES AND OWNER EQUITY BOOK VALUE AT END OF CURRENT

REPORTING MONTH


Other Post-petition LiabilitiesAccrued accounts payable 21,044.65

Adjustments to Owner’s Equity

Post-Petition Contributions

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

FORM MOR-32/2008

PAGE 6 OF 10



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

FederalBeginning

Tax

Amount Withheld

and/or Accrued

Amount Paid Date Paid

Check # or EFT Ending Tax

WithholdingFICA-EmployeeFICA-EmployerUnemploymentIncomeOther:_____________

Total Federal TaxesState and Local

WithholdingSalesExciseUnemploymentReal PropertyPersonal PropertyOther:_____________

Total State and Local

Total Taxes Reported at TRADG, Inc. (91-71023 (REG))

Attach aged listing of accounts payable.

Current 0-30 31-60 61-90 Over 91 Total

Accounts Payable -

Wages Payable Reported at TRADG, Inc. (91-71023 (REG))

Taxes Payable Reported at TRADG, Inc. (91-71023 (REG))

Rent/Leases-BuildingRent/Leases-EquipmentSecured Debt/Adequate Protection PaymentsProfessional Fees Reported at TRADG, Inc. (91-71023 (REG))

Amounts Due to InsidersOther:______________Other:______________Total Post-petition Debts - - - - - -

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

Number of Days Past Due

STATUS OF POST-PETITION TAXES

SUMMARY OF UNPAID POST-PETITION DEBTS

FORM MOR-42/2008

PAGE 7 OF 10



Amount687,128.84

(8,473.01)57,814.83

620,841.00

Customer Number 0-30 Days 31-60 Days 61-90 Days 91+ Days TotalTotal Accounts Receivable 33,829.78 40,253.50 51,496.92 495,260.80 620,841.00

Less: Bad Debts (Amount considered uncollectible) 4,168.90 4,168.90

Net Accounts Receivable 33,829.78 40,253.50 51,496.92 491,091.90 616,672.10

Taxes Payable 0-30 Days 31-60 Days 61-90 Days 91+ Days Total

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

TAXES RECONCILIATION AND AGING

Accounts Receivable ReconciliationTotal Accounts Receivable at the beginning of the reporting periodPlus: Amounts billed during the periodLess: Amounts collected during the period Total Accounts Receivable at the end of the reporting period

FORM MOR-52/2008

PAGE 8 OF 10



Of the total disbursements shown on the Cash Receipts and Disbursements Report (MOR-1) list the amount paid to insiders (as defined in Section 101(31) (A)-(F) of the U.S. Bankruptcy Code) and to professionals. For payments to insiders, identify the type of compensation paid(e.g. Salary, Bonus, Commissions, Insurance, Housing Allowance, Travel, Car Allowance, Etc.). Attach additional sheets if necessary.

NAME TYPE OF PAYMENT AMOUNT PAID TOTAL PAID TO DATE

Reported at TRADG, Inc. (91-71023 (REG))

NAME

DATE OF COURT ORDER AUTHORIZING

PAYMENT AMOUNT APPROVED AMOUNT PAID TOTAL PAID TO DATETOTAL INCURRED &

UNPAID*


* INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED

NAME OF CREDITOR

SCHEDULED MONTHLY PAYMENT

DUEAMOUNT PAID

DURING MONTHTOTAL UNPAID POST-

PETITION


PAYMENTS TO INSIDERS AND PROFESSIONALS

POST-PETITION STATUS OF SECURED NOTES, LEASES PAYABLEAND ADEQUATE PROTECTION PAYMENTS

TOTAL PAYMENTS

INSIDERS

TOTAL PAYMENTS TO INSIDERS

TOTAL PAYMENTS TO PROFESSIONALS

PROFESSIONALS

FORM MOR-62/2008

PAGE 9 OF 10



Must be completed each month. If the answer to any of the questions is “Yes”, provide a detailed explanation of each item. Attach additional sheets if necessary.

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?

x

3 Is the Debtor delinquent in the timely filing of any post-petition tax returns?

x

4Are workers compensation, general liability or other necessary insurance coverages expired or cancelled, or has the debtor received notice of expiration or cancellation of such policies?

x

5 Is the Debtor delinquent in paying any insurance premium payment? x

6 Have any payments been made on pre-petition liabilities this reporting period?

x

7 Are any post petition receivables (accounts, notes or loans) due from related parties?

x

8 Are any post petition payroll taxes past due? x9 Are any post petition State or Federal income taxes past due? x

10 Are any post petition real estate taxes past due? x11 Are any other post petition taxes past due? x

12 Have any pre-petition taxes been paid during this reporting period? x

13 Are any amounts owed to post petition creditors delinquent? x14 Are any wage payments past due? x

15 Have any post petition loans been been received by the Debtor from any party?

x

16 Is the Debtor delinquent in paying any U.S. Trustee fees? x

17 Is the Debtor delinquent with any court ordered payments to attorneys or other professionals?

x

18Have the owners or shareholders received any compensation outside of the normal course of business?

x

DEBTOR QUESTIONNAIRE


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WellsOne® AccountAccount number: 4201291101 February 1, 2019 - February 28, 2019 Page 1 of 2

THE ROBERT ALLEN DURALEE GROUP FURNITURECOLLECT ACCT FOR DURALEE FINE FURNITUREDEBTOR IN POSSESSION CASE #19-7102549 WIRELESS BLVD STE 150HAUPPAUGE NY 11788-3950

Questions?

Call your Customer Service Officer or Client Services1-800-AT WELLS (1-800-289-3557)5:00 AM TO 6:00 PM Pacific Time Monday - Friday

Online: wellsfargo.com

Write: Wells Fargo Bank, N.A. (182)PO Box 63020San Francisco, CA 94163

Account summaryWellsOne® AccountAccount number Beginning balance Total credits Total debits Ending balance4201291101 $0.00 $184,464.55 -$184,464.55 $0.00

CreditsDeposits

Effective Posteddate date Amount Transaction detail

02/05 13,130.78 Deposit02/12 21,157.06 Deposit02/15 10,958.99 Deposit02/20 26,886.71 Deposit02/28 10,028.98 Deposit

$82,162.52 Total deposits

Electronic deposits/bank credits


02/01 10,655.76 American Express Settlement 190201 6312820087 631282008702/01 7,337.97 Merchant Bnkcd Deposit 190131 334221119889 Duralee Fine Furniture02/01 1,014.88 Merchant Bnkcd Deposit 190131 334221119889 Duralee Fine Furniture02/04 6,569.76 American Express Settlement 190202 6312820087 631282008702/04 2,844.82 American Express Settlement 190204 6312820087 631282008702/04 8,822.49 Merchant Bnkcd Deposit 190202 334221119889 Duralee Fine Furniture02/04 8,489.35 Merchant Bnkcd Deposit 190201 334221119889 Duralee Fine Furniture02/04 3,705.66 Merchant Bnkcd Deposit 190202 334221119889 Duralee Fine Furniture02/04 2,092.50 Merchant Bnkcd Deposit 190201 334221119889 Duralee Fine Furniture02/06 3,537.00 Merchant Bnkcd Deposit 190205 334221119889 Duralee Fine Furniture02/06 115.00 Merchant Bnkcd Deposit 190205 334221119889 Duralee Fine Furniture02/07 3,663.75 Merchant Bnkcd Deposit 190206 334221119889 Duralee Fine Furniture02/07 927.50 Merchant Bnkcd Deposit 190206 334221119889 Duralee Fine Furniture02/08 5,437.23 American Express Settlement 190208 6312820087 6312820087

Sheet Seq = 0110524Sheet 00001 of 00002


Account number: 4201291101 February 1, 2019 - February 28, 2019 Page 2 of 2

©2010 Wells Fargo Bank, N.A.All rights reserved. Member FDIC.

Electronic deposits/bank credits (continued)


02/08 7,655.13 Merchant Bnkcd Deposit 190207 334221119889 Duralee Fine Furniture02/11 4,831.40 American Express Settlement 190209 6312820087 631282008702/11 3,125.44 American Express Settlement 190211 6312820087 631282008702/11 7,712.50 Merchant Bnkcd Deposit 190209 334221119889 Duralee Fine Furniture02/11 1,365.51 Merchant Bnkcd Deposit 190208 334221119889 Duralee Fine Furniture02/13 2,620.60 Merchant Bnkcd Deposit 190212 334221119889 Duralee Fine Furniture02/14 2,778.00 Merchant Bnkcd Deposit 190213 334221119889 Duralee Fine Furniture02/15 2,313.00 Merchant Bnkcd Deposit 190214 334221119889 Duralee Fine Furniture02/19 2,748.05 Merchant Bnkcd Deposit 190216 334221119889 Duralee Fine Furniture02/20 1,534.98 Merchant Bnkcd Deposit 190219 334221119889 Duralee Fine Furniture02/20 403.75 Merchant Bnkcd Deposit 190219 334221119889 Duralee Fine Furniture

$102,302.03 Total electronic deposits/bank credits

$184,464.55 Total credits

DebitsElectronic debits/bank debits


02/01 19,008.61 ZBA Balance Account Transfer to 412341202502/04 32,524.58 ZBA Balance Account Transfer to 412341202502/05 13,130.78 ZBA Balance Account Transfer to 412341202502/06 3,652.00 ZBA Balance Account Transfer to 412341202502/07 4,591.25 ZBA Balance Account Transfer to 412341202502/08 13,092.36 ZBA Balance Account Transfer to 412341202502/11 17,034.85 ZBA Balance Account Transfer to 412341202502/19 42,575.70 ZBA Balance Account Transfer to 412341202502/20 28,825.44 ZBA Balance Account Transfer to 412341202502/28 10,028.98 ZBA Balance Account Transfer to 4123412025

$184,464.55 Total electronic debits/bank debits

$184,464.55 Total debits

Daily ledger balance summaryDate Balance Date Balance Date Balance01/31 0.00 02/07 0.00 02/14 26,555.6602/01 0.00 02/08 0.00 02/15 39,827.6502/04 0.00 02/11 0.00 02/19 0.0002/05 0.00 02/12 21,157.06 02/20 0.0002/06 0.00 02/13 23,777.66 02/28 0.00

Average daily ledger balance $8,242.89



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WellsOne® AccountAccount number: 4201291119 February 1, 2019 - February 28, 2019 Page 1 of 2

THE ROBERT ALLEN DURALEE GROUP FURNITUREOPERATING ACCOUNTDEBTOR IN POSSESSION CASE #19-7102549 WIRELESS BLVD STE 150HAUPPAUGE NY 11788-3950

Questions?

Call your Customer Service Officer or Client Services1-800-AT WELLS (1-800-289-3557)5:00 AM TO 6:00 PM Pacific Time Monday - Friday

Online: wellsfargo.com

Write: Wells Fargo Bank, N.A. (182)PO Box 63020San Francisco, CA 94163

Account summaryWellsOne® AccountAccount number Beginning balance Total credits Total debits Ending balance4201291119 $0.00 $113,484.83 -$113,484.83 $0.00

CreditsDeposits

Effective Posteddate date Amount Transaction detail02/11 02/12 62.16 Return AS NSF02/11 02/12 13,667.02 Return AS NSF02/11 02/12 40.01 Return AS NSF

$13,769.19 Total deposits

Electronic deposits/bank credits


02/04 11,237.39 ZBA Balance Account Transfer From 412341203302/05 3,564.59 ZBA Balance Account Transfer From 412341203302/06 10,285.25 ZBA Balance Account Transfer From 412341203302/07 5,705.66 ZBA Balance Account Transfer From 412341203302/11 13,769.19 ZBA Balance Account Transfer From 412341203302/19 4,277.20 ZBA Balance Account Transfer From 412341203302/20 3,500.00 ZBA Balance Account Transfer From 412341203302/21 4,222.00 ZBA Balance Account Transfer From 412341203302/22 4,311.32 ZBA Balance Account Transfer From 412341203302/25 6,506.57 ZBA Balance Account Transfer From 412341203302/26 23,631.52 ZBA Balance Account Transfer From 412341203302/27 6,248.21 ZBA Balance Account Transfer From 412341203302/28 2,456.74 ZBA Balance Account Transfer From 4123412033

$99,715.64 Total electronic deposits/bank credits

$113,484.83 Total credits



Account number: 4201291119 February 1, 2019 - February 28, 2019 Page 2 of 2

©2010 Wells Fargo Bank, N.A.All rights reserved. Member FDIC.

DebitsElectronic debits/bank debits


02/04 5,009.39 < Business to Business ACH Debit - Merchant Bnkcd Interchng 190203334221119889 Duralee Fine Furniture

02/04 208.62 < Business to Business ACH Debit - Merchant Bnkcd Discount 190203334221119889 Duralee Fine Furniture

02/04 166.85 < Business to Business ACH Debit - Merchant Bnkcd Fee 190203 334221119889Duralee Fine Furniture

02/06 3,663.06 < Business to Business ACH Debit - Merchant Bnkcd Chargeback 190205334221119889 Duralee Fine Furniture

02/06 3,663.06 < Business to Business ACH Debit - Merchant Bnkcd Chargeback 190205334221119889 Duralee Fine Furniture

02/13 13,769.19 ZBA Balance Account Transfer to 412341203302/19 4,277.20 < Business to Business ACH Debit - Merchant Bnkcd Chargeback 190216

334221119889 Duralee Fine Furniture02/20 3,500.00 < Business to Business ACH Debit - Merchant Bnkcd Chargeback 190219

334221119889 Duralee Fine Furniture02/21 1,592.00 < Business to Business ACH Debit - Merchant Bnkcd Chargeback 190220

334221119889 Duralee Fine Furniture$35,849.37 Total electronic debits/bank debits

< Business to Business ACH:If this is a business account, this transaction has a return time frame of one business day from post date. This time frame does notapply to consumer accounts.

Checks paid

Number Amount Date Number Amount Date Number Amount Date1098 1,857.48 02/28 3127 40.01 02/11 3141 4,311.32 02/223008 * 69.90 02/07 3133 * 2,760.43 02/04 3142 2,630.00 02/213009 39.00 02/04 3134 3,053.10 02/04 3143 5,308.21 02/273011 * 434.61 02/07 3135 3,564.59 02/05 3144 23,131.52 02/263113 * 62.16 02/11 3136 2,959.13 02/06 3145 500.00 02/263121 * 3,938.01 02/07 3139 * 1,263.14 02/07 3146 599.26 02/283126 * 13,667.02 02/11 3140 6,506.57 02/25 3148 * 940.00 02/27

$77,635.46 Total checks paid

* Gap in check sequence.

$113,484.83 Total debits

Daily ledger balance summaryDate Balance Date Balance Date Balance01/31 0.00 02/12 13,769.19 02/22 0.0002/04 0.00 02/13 0.00 02/25 0.0002/05 0.00 02/19 0.00 02/26 0.0002/06 0.00 02/20 0.00 02/27 0.0002/07 0.00 02/21 0.00 02/28 0.0002/11 0.00

Average daily ledger balance $983.51




CASH DISBURSEMENTS

CO VENDOR NAME ACCT GROUP DOC DATE DOC TYPE Cleared? AMOUNT Cleared DateDF First Data Merchant card charge backs 2/19/2019 ACH Y 4,277.20 2/19/2019DF Johnson Casual Furniture Material Purchases 2/20/2019 Check Y 2,630.00 2/20/2019DF First Data Merchant card charge backs 2/20/2019 ACH Y 3,500.00 2/20/2019DF Wayne Industries Material Purchases 2/20/2019 Check Y 4,311.32 2/22/2019DF First Data Merchant card charge backs 2/21/2019 ACH Y 1,592.00 2/21/2019

16,310.52



Customer Number 0-30 Days 31-60 Days 61-90 Days 91+ Days Total73188 4,277.20 4,277.2062278 1,284.00 1,284.0090611 3,420.00 4,140.00 7,560.0055648 7.10 7.1023696 445.89 320.64 766.5380740 (2,541.16) (2,541.16)33332 (3,620.66) (1,394.82) (5,015.48)18253 920.70 920.7035332 326.25 7,872.75 14,401.89 162,481.71 185,082.6022721 832.79 1,545.00 2,377.7968919 (2,286.73) (2,286.73)30000 1,200.00 626.50 1,826.5013141 1,326.00 3,828.00 5,154.0056214 (3,561.00) (3,561.00)79663 5,648.56 5,648.5659273 (711.10) (711.10)10688 (10,080.00) (10,080.00)11969 23,409.50 144,296.06 167,705.5644579 (1,722.00) (1,722.00)11582 1,092.10 1,092.1025821 2,424.84 2,424.8429943 1,118.90 1,118.9025933 85.00 85.0017106 149.00 149.0067554 (723.00) 4,255.68 3,532.6888569 62.66 62.6615507 4,301.92 4,301.9213913 3,647.00 3,647.0059076 2,677.50 (73.30) 2,604.2079530 3,084.00 3,084.0010004 1,257.50 1,257.5014331 1,248.00 1,248.0054876 3,592.00 9,558.30 13,150.3097001 11,261.25 11,261.2599525 142.39 8,908.55 9,050.9497007 1,672.69 756.00 38,292.64 40,721.3396998 105.00 210.00 31,301.23 31,616.2397002 2,835.50 2,356.00 7,110.00 12,301.5097004 3,258.00 2,566.50 5,266.45 11,090.9597000 1,347.69 4,398.15 5,745.8497008 789.85 2,753.25 3,543.1097006 24,642.60 24,642.6095519 262.50 262.5018251 2,050.00 (1,950.00) 100.00


FORM MOR-5 (ARA)2/2008

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Customer Number 0-30 Days 31-60 Days 61-90 Days 91+ Days Total


13654 2,110.35 2,110.3594890 1,626.00 1,626.0081740 6,777.36 6,777.3692450 7,326.12 7,326.1288591 2,394.00 2,394.0084687 114.66 114.6695132 35,203.37 35,203.3796446 12,429.29 12,429.2989966 835.00 875.00 1,710.0058325 644.50 644.5072410 1,095.00 1,095.0075382 455.94 455.9476129 4,167.00 4,167.00Total Accounts Receivable 33,829.78 40,253.50 51,496.92 495,260.80 620,841.00

FORM MOR-5 (ARA)2/2008

PAGE 2 OF 2


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