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@jAL L/ARIUT/ES I 5361 38,884,6371 I 29,571 ) 63 I 29.570.9881
OWNU. /!1/tn' -
Capital Stock 120,204 120.204: 120,204 120.204.
Additional Paid-In Caoital 19,359,060 19,359.060 I 19,359.060 19,359,060
Partners' Capital Account
I
Owner's Equity Account .
Retained Pre-Petition (58.349,202 (58.349.202) (58.142.004) (65,792) (6l,792)
Retained Eamins PostJ>etition I 264,666) 263.916) (375
Adjustments to Owner Equity (attach schedule)
Postpetition Contributions (Distributions) (Draws) (attach
NET OWNER EOUm (39.134.604) (38,869.938) (38,926,656) (38.662.740) (66,167) (65,792)
TOTAL UAJIIUTIES A.ND OWI'IERS" EQUITY 17Ull 479 1 lli,IU 14 19f
'"lnsi0";. delincd in II U.S.C. Section 101(31)
NOTES
(l) J>re..petitioo Unsecured Debt and Priority Debt were reducOO by $2454 during the March 2031 reporting period. This amount represents "Other expenses" (see MOR2CON1) which arc checks written before filing, but that
cleared the old PNC account afier the filing date. This amount is included in the Unsecured Debt and Priority Debt on the Schedules and Statements filed with the US Trustee. Then::fOR, Net Loss reported on MORZ differs
from Retained Earnings - Postpcritioo reported on MOR 3 b) that amowtl
(2) Includes out of pocket expenses for managemenl and health insmance premium payment made by CEO
(3) Pre-petition liabilities have been amended u per amendment! lo Schedules filed on May 3L 2012
(4) Thomycrofl Giles & Co., Inc. (TGC) is the ov.'l"'er of the intellectUAl property which will be the subject of the planned litip.tion and source of potentiAl future value for the debtof"S. llis intellectual propert) has been used a.s
scwrity for notes inued by the parent. F:utShip. Inc .. and TGC is shown as robtor for those pre-petition secured debt liabilities. These cobtor amounts arc eliminated for consolidation purposes
(29,570.988) (29.570.988)
(375)
(29,l71,363) (29,l7(J,988)
.............
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Reroortina Ptriod: Mav 1-Ma\1 J L 2012
BALANCE SHEET- continuation sheet
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Acauod Insider Comoensatioo I I <t610.14
Ao:ruod employer payroU la.>re$ (I .MUS
Accrued office e.>;:pense !2 U0 .1S
Aocrued cWms agent expense
Accrued professional fees t3 1401 42.47
P1smmts made by paretH on behalf of subsidiaries
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Restrick.d Cash is cash that is restricted for a specilk WI: and not availabk to fund operations. T)'(tically, restricted cash is
into a scpante aocoont, such as an escrow accounl.
NOTES
(l)Portion of<!!trol lof ti:epDd ira JUDCartributableto wori::
HJR,.....- N!()i . l CONT'D
(o.l'fl1)
Case No. 12-10968 (BLS) In re FastShip, Inc. et al
Debtors Reporting Period: May I -May 31, 2012
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
Withholding
FICA-I:mployee
FICA-Employer
Unemplovment- Employer
Income
Other:
Total Federal Taxes
State and Local
Withholding
Sales
Excise
Unemployment- Employee
Unemployment- Employer
Real Property
Personal Property
Other: Philadelphia Wage Tax
Total State and Local
Total Taxes
Beginning
Tax
Liability
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
NOTE: The debtors are current with all fiduciary tax obligations
Amount
Withheld or
Accrued
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Amount
Paid
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Date
Paid
SUMMARY OF UNPAID POSTPETITION DEBTS
Attach aged listing of accounts payable.
Number of Days Past Due
Check No.
or EFT
Current 0-30 31-60 61-90 Over 90
Accounts Payable - - - -
Wages Payable - - - -
Taxes Payable (accrual) - - - -
Rent/Leases-Building - - - -
Rent/Leases-Equipment - - - -
Secured Debt/Adequate Protection Pavments - - - -
Professional Fees - - - -
Amounts Due to Insiders* (I) 3,038 - - -
Other: US Trustee fee accrual - - - -
Other: - - - -
Total Postpetition Debts (1) 3,038 - - -
Explain how and when the Debtor intends to pay any past-due postpetition debts.
NOTE
(1) Debtor is FastShip, Inc.
*"Insider" is defined in II U S. C Section I 0 I (3 I )
-
-
-
-
-
-
-
-
-
-
-
Ending
Tax
Liability
Total
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3,038
-
-
3,038
FORM \l0R4
(04/07)
In re FastShip, Inc. et al
Debtors
Case No. 12-10968 (BLS)
Reporting Period May I - May 31, 2012
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
Accounts Receivable Reconciliation
Total Accounts Receivable at the beginning of the reporting period
+ Amounts billed during the period
- Amounts collected during the period
Total Accounts Receivable at the end of the reporting period
Accounts Receivable Aging
0- 30 days old
31-60 days old
61 - 90 days old
91+ days old
Total Accounts Receivable
Amount considered uncollectible (Bad Debt) (I)
Accounts Receivable (Net)
DEBTOR QUESTIONNAIRE
Must be completed each month
I. Have any assets been sold or transferred outside the normal course of business
this reporting If yes, provide an explanation below.
2. Have any funds been disbursed from any account other than a debtor in possession
account this reporting If yes, provide an explanation below.
3. Have all postpetition tax returns been timely If no, provide an explanation
below.
4. Are workers compensation, general liability and other necessary insurance
coverages in 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 Dela>vare Local Rule 4001-3.
Amount
Amount
Yes
.I
.I
.I
.I
.I
-
-
-
-
-
-
-
-
-
-
-
No
FOR\1 \10R-5
(04!07)