document page 1 of 11 ¨1¤~$:5!5

Monthly Operating ReportCASH BASIS

CASE NAME: CFO Management Holdinss, LLC

ASE NUMBERT 1940426

JUDTGE: BrerdaT Rhoades

UT{ITED STATES BAI{KRUPTCY COURT

NORTHERT{ & EASTERN DIS'TRICTS OF'TEXAS

REGION 6

MONTIILY OPERATING REPORT

MONTII ENDING: DECEMBER 2020

IN ACCORDANCE \ilITH TITLE 2& SECTTON 17'16, OF THE UNITED STATES CODE, I DECL"A,RE UNDER,PENALTY OF PERJURY TIIAT I HAVE EXAMINED THE T'OLLOWING MONTHLY OPERATING REPORT(CASH BASIS.I THROUGH CASH 8A5IS.6) ANDTHE ACCOMPANYTNG ATTACHMENTS AND,TO THE BEST OF MY KI{OWLEDGE, THESEDOCUMENTS ARE TRUE, CORRECT, AND COMPLETE.DECLARATION OF THE PRSPARER(OTHER THAN RESPONSIBLE PARTY}IS BASED ON ALLINFOR"DIATION OF WHICH PREPARER HAS ANY KNOWLEDGE.

Ch. I I Trustee

David Wallace

PRINTEDNMtnw2tr2r

DATE

AceountotTITLE

Eric Robinson tnonoztPRINTED NAME OF PREPARER DATE

Case 19-40426 Doc 666 Filed 01/20/21 Entered 01/20/21 17:42:01 Desc MainDocument of 11

¨1¤~$:5!5 !?«

1940426210121000000000001

Docket #0666 Date Filed: 1/20/2021

Monthly Operating ReportCASH BASIS-1

CASE NAME:

CASE NUMBER:

CASH RECEIPTS AND October November DecemberDISBURSEMENTS

23,688,140.54$ 23,379,940.26$ 23,188,927.25$ RECEIPTS

-$ -$

3,031.02$ 2,933.76$ 2,648.48$ 7,281.50$ -$ -

10,312.52$ 2,933.76$ 2,648.48$

-$ -$ (211,863.02)$

-$ -$ -

224.71$ 220.69$ 3,955.47$ 645.99$ -$ 1,459.44$

17,630.00$ 1,860.00$ 6,169.93$ -$ -$ -$

432.82$ 383.05$ 401.42$ 12.33$ 5,870.18$ 16,820.26$

3,500.00$ 3,500.00$ 3,500.00$

22,445.85$ 11,833.92$ (179,556.50)$ REORGANIZATION EXPENSES

291,191.95$ 182,112.85$ 134,733.01$ 4,875.00$ -$

296,066.95$ 182,112.85$ 134,733.01$ 318,512.80$ 193,946.77$ (44,823.49)$

(308,200.28)$ (191,013.01)$ 47,471.97$ 23,379,940.26$ 23,188,927.25$ 23,236,399.22$

25. ADMIN EXPENSES26. CHARITABLE CONTRIBUTIONS27. ASSET MANAGEMENT

CFO Management Holdings, LLC

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35. NET CASH FLOW

15. OTHER SECURED NOTE PAYMENTS

28. OTHER (ATTACH LIST)

17. UTILITIES18. INSURANCE

36. CASH - END OF MONTH

29. TOTAL ORDINARY DISBURSEMENTS

30. PROFESSIONAL FEES31. U.S. TRUSTEE FEES32. OTHER (ATTACH LIST)33. TOTAL REORGANIZATION EXPENSES34. TOTAL DISBURSEMENTS

19. VEHICLE EXPENSES20. TRAVEL21. ENTERTAINMENT22. REPAIRS & MAINTENANCE23. SUPPLIES24. BANK FEES

9. TOTAL RECEIPTS

10. RETURN OF CLOSING COSTS (SALE OF REAL PROPERTY)11. PAYROLL TAXES PAID

DISBURSEMENTS

13. INVENTORY PURCHASES14. MORTAGE PAYMENTS

4. LOANS AND ADVANCES

12. SALES,USE & OTHER TAXES PAID

1. CASH - BEGINNING OF MONTH

2. CASH SALES3. ACCOUNTS RECEIVABLE COLLECTIONS

16. ENGINEERING

5. SALE OF ASSETS6. LEASE & RENTAL INCOME7. INTEREST EARNED ON ESCROW8. OTHER (ATTACH LIST)


Monthly Operating ReportCASH BASIS-1A

2020CASE NAME:

CASE NUMBER:

CASH DISBURSEMENTS DETAIL MONTH:

CASH DISBURSEMENTS DATE PAYEE PURPOSE AMOUNT

TOTAL CASH DISBURSEMENTS -$

BANK ACCOUNT DISBURSEMENTSCK# DATE PAYEE PURPOSE AMOUNT309 12/03/20 Capitol Corporate Services, Inc 125.00$ 310 12/03/20 Capitol Corporate Services, Inc 125.00$ 311 12/03/20 Capitol Corporate Services, Inc 125.00$ 312 12/03/20 Trigild Management Services, Inc 3,500.00$ 313 12/03/20 Capitol Corporate Services, Inc 125.00$ 314 12/03/20 Capitol Corporate Services, Inc 125.00$ 315 12/03/20 Capitol Corporate Services, Inc 125.00$ 316 12/03/20 Capitol Corporate Services, Inc 125.00$ 317 12/03/20 Capitol Corporate Services, Inc 125.00$ 318 12/03/20 Capitol Corporate Services, Inc 125.00$ 319 12/08/20 COSERV 191.00$ 320 12/09/20 Red River Valley Rural Electric 57.74$ 321 12/09/20 Red River Valley Rural Electric 67.51$ 322 12/28/20 City of McKinney -$ 323 12/17/20 COSERV -$ 324 12/17/20 COSERV 3,580.13$ 325 12/17/20 Mobile Mini -$ 326 12/17/20 Mobile Mini 2,714.79$ 327 12/17/20 Modu-Loc USA LP 1,093.44$ 328 12/21/20 Kurtzman Carson Consultants 69,076.22$ 329 12/28/20 Cox Outdoors 900.00$ 330 12/28/20 Singer & Levick, P.C. 8,429.24$ 331 12/28/20 Thompson & Knight LLP 5,732.80$ 332 12/28/20 Trigild Inc 10,528.00$ 333 12/28/20 Trigild Holdings Inc 1,478.70$ 334 12/28/20 Consolidated R.W.D. #1 59.09$ 335 12/28/20 TT Ranch Group, LLC 500.00$ 336 12/28/20 George Adams & CO Ins Agcy LLC 16,301.00$ 337 12/31/20 Modu-Loc USA LP 336.70$

121820WIREIN 12/18/20 Ross & Smith, PC (211,863.02)$ 121820WIREIN 12/18/20 Ross & Smith, PC 40,966.75$

12/14/20 Bank of Texas 401.42$

TOTAL BANK ACCOUNT DISBURSEMENTS (44,823.49)$

TOTAL DISBURSEMENTS FOR THE MONTH (44,823.49)$

Container Rental

Professional Fee

Return of Closing Costs from Starling Sale

Fill all feeders

Professional Fee

Professional Fee

Professional Fee

Expense Reimbursement

Water

Digital Ads

Bond

Electric

Container Rental

Management Fee

1/21-12/21 Agent Servicces - Secretary of State


Electric

Electric

DECEMBER





Container Rental

Professional Fee

Unused

Electric

Void

Void

Analysis Fee


19-40426






CASE NAME:

CASE NUMBER:

BANK RECONCILIATIONS Acct #1 Acct #2 Acct #3 Acct #4 Acct #5 Acct #6 Acct #7

A. BANK: Bank

of Texas Bank

of Texas Bank

of Texas Bank

of Texas Bank

of Texas Bank

of Texas Bank

of Texas B. ACCOUNT NUMBER: 8097056797 8097056808 8097056819 8097056830 8097059261 8097061065 xx5817 TOTALC. PURPOSE (TYPE): Escrow Escrow Escrow Escrow Escrow Escrow Operations

1. BALANCE PER BANK STATEMENT 1,587,502.43$ 1,713,568.14$ 1,478,524.70$ 1,237,884.95$ 3,320,974.62$ 8,562,979.73$ 5,430,566.90$ 23,332,001.47$ 2. ADD: TOTAL DEPOSITS NOT CREDITED -$ -$ -$ -$ -$ -$ -$ 3. SUBTRACT: OUTSTANDING CHECKS -$ -$ -$ -$ -$ -$ 95,602.25$ 95,602.25$ 4. OTHER RECONCILING ITEMS -$ -$ -$ -$ -$ -$ -$ -$ 5. MONTH END BALANCE PER BOOKS 1,587,502.43$ 1,713,568.14$ 1,478,524.70$ 1,237,884.95$ 3,320,974.62$ 8,562,979.73$ 5,334,964.65$ 23,236,399.22$ 6. NUMBER OF LAST CHECK WRITTEN 337

-$ INVESTMENT ACCOUNTS DATE OF TYPE OF PURCHASE PURCHASE CURRENT

BANK, ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PRICE PRICE VALUE

-$ -$ -$

CASH 12. CURRENCY ON HAND -$

13. TOTAL CASH - END OF MONTH 23,236,399.22$


19-40426

11. TOTAL INVESTMENTS

7.8.9.10.



CASE NAME:

CASE NUMBER:

ASSETS OF THE ESTATE

SCHEDULE "A" October November DecemberREAL PROPERTY

18,500,000.00$ -$ -$ -$22,000,000.00$ 22,000,000.00$ 22,000,000.00$ 22,000,000.00$

5,200,000.00$ -$ -$ -$499,475.00$ -$ -$ -$384,750.00$ -$ -$ -$821,966.00$ -$ -$ -$293,809.00$ -$ -$ -$

4,500,000.00$ 4,500,000.00$ 4,500,000.00$ 4,500,000.00$ 4,500,000.00$ -$ -$ -$

56,700,000.00$ 26,500,000.00$ 26,500,000.00$ 26,500,000.00$ SCHEDULE "B"

PERSONAL PROPERTY-$ -$ -$ -$

6,836.74$ 23,379,940.26$ 23,188,927.25$ 23,236,399.22$ -$ -$ -$ -$-$ -$ -$ -$-$ -$ -$ -$-$ -$ -$ -$-$ -$ -$ -$-$ -$ -$ -$-$ -$ -$ -$-$ -$ -$ -$-$ -$ -$ -$-$ -$ -$ -$-$ -$ -$ -$-$ -$ -$ -$-$ -$ -$ -$

725,689.23$ -$ -$ -$-$ -$ -$ -$-$ -$ -$ -$-$ -$ -$ -$-$ -$ -$ -$-$ -$ -$ -$-$ -$ -$ -$-$ -$ -$ -$-$ -$ -$ -$

14,500.00$ 14,500.00$ 14,500.00$ 14,500.00$ 300.00$ 300.00$ 300.00$ 300.00$

-$ -$ -$ -$17,000.00$ $ 17,000.00** 17,000.00**$ -$

8,200.00$ 8,200.00$ 8,200.00$ 8,200.00$ 300,323.00$ 283,300.00$ 283,300.00$ 283,300.00$

2,000.00$ 2,000.00$ 2,000.00$ 2,000.00$ -$ -$ -$ -$

19,400.00$ 19,400.00$ 19,400.00$ 19,400.00$ 5,200.00$ 5,200.00$ 5,200.00$ 5,200.00$

43,690.32$ 2,000.00$ 2,000.00$ 2,000.00$ 1,143,139.29$ 23,731,840.26$ 23,540,827.25$ 23,571,299.22$

57,843,139.29$ 50,231,840.26$ 50,040,827.25$ 50,071,299.22$

SCHEDULE AMOUNT

1. Frisco Wade Crossing


19-40426

2. 1400 Coit Rd., McKinney, TX 750713. Land: SW Corner of Main & Majestic Gardens., Frisco, TX 75034

8. OTHER (ATTACH LIST)9. TOTAL REAL PROPERTY ASSETS

1. CASH ON HAND2. CHECKING, SAVINGS, ETC.3. SECURITY DEPOSITS4. HOUSEHOLD GOODS5. BOOKS, PICTURES, ART6. WEARING APPAREL7. FURS AND JEWELRY8. FIREARMS & SPORTS EQUIPMENT9. INSURANCE POLICIES10. ANNUITIES11. EDUCATION12. RETIREMENT & PROFIT SHARING13. STOCKS14. PARTNERSHIPS & JOINT VENTURES15. GOVERNMENT & CORPORATE BONDS16. ACCOUNTS RECEIVABLE17. ALIMONY18. OTHER LIQUIDATED DEBTS19. EQUITABLE INTERESTS20. CONTINGENT INTERESTS21. OTHER CLAIMS22. PATENTS & COPYRIGHTS23. LICENSES & FRANCHISES24. CUSTOMER LISTS25. AUTOS, TRUCKS & OTHER VEHICLES26. BOATS & MOTORS27. AIRCRAFT28. OFFICE EQUIPMENT**

35. OTHER (ATTACH LIST)36. TOTAL PERSONAL PROPERTY ASSETS37. TOTAL ASSETS

29. MACHINERY, FIXTURES & EQUIPMENT30. INVENTORY31. ANIMALS32. CROPS33. FARMING EQUIPMENT34. FARM SUPPLIES

4. 1784 Hidalgo Lane, Frisco, TX 750345. 1756 Hidalgo Lane, Frisco, TX 750346. 1781 Cortland Drive, Frisco, TX 750347. 1786 Cortland, Frisco, TX 750348. Double Droptine Ranch, Duncan Road,. Ringling, OK 734569. 4009 Starling Drive,. Frisco, TX 75034

**A reference to $17,000.00 in office equipment has been incorrectly included in the Debtor’s reporting since September 2019, at which time such equipment was sold in accordance with the Bankruptcy Court’s Order Approving Chapter 11 Trustee’s Motion to Approve Sale of Office Furniture and Other Stored Assets Under 11 U.S.C. § 363 Free and Clear of All Liens, Claims, Encumbrances, and Interests [Docket No. 239]. A correction and explanation is reflected in this December 2020 report in lieu of amending all applicable previous reports given the limited dollar amount at issue and the cost associated with such revisions.



CASE NAME:

CASE NUMBER:

MONTH: DECEMBERLIABILITIES OF THE ESTATE

PREPETITION LIABILITIES PAYMENTS

1,250,000.00$

39,526,402.17$

40,776,402.17$ -$

POSTPETITION DATE AMOUNT DUE AMOUNTLIABILITIES INCURRED OWED DATE PAST DUE

-$ -$ OTHER POSTPETITION LIABILITIES INCLUDING TRADE CREDITORS (LIST NAMES OF CREDITORS)

12/31/20 4,875.00$ - -12/31/20 16,297.00$ - -12/31/20 3,500.00$ - -12/31/20 - -12/31/20 - -12/31/20 12.97$ - -

13. Professional Fees due to Ross & Smith, PC 12/31/20 115,040.40$ - -14. Professional Fees due to Singer & Levick, PC 12/31/20 28,124.33$ - -15. Professional Fees due to Thompson & Knight LLP 12/31/20 19,731.70$ - -16. Professional Fees due to KCC 12/31/20 30,960.17$ - -17. 18.

218,541.57$ -$ 218,541.57$ -$

SCHEDULE AMOUNT

1. SECURED2. PRIORITY3. UNSECURED


19-40426

4. OTHER (ATTACH LIST)5. TOTAL PREPETITION LIABILITIES

1. FEDERAL INCOME TAXES2. FICA/MEDICARE3. STATE TAXES4. REAL ESTATE TAXES5. OTHER TAXES (ATTACH LIST)6. TOTAL TAXES

7. US Trustee Fees8. Chapter 11 Appointed Trustee Professional Fees9. Trigild Asset Management Fees

11. Trigild Asset Management Fees10. Trigild Asset Management Fees

12. Reimbursables Due to Trigild

19. 20.21.22.23.

29. (IF ADDITIONAL ATTACH LIST)30. TOTAL OF LINES 7 - 2931. TOTAL POSTPETITION LIABILITIES

24.25.26.27.28.


Monthly Operating ReportCASH BASIS-4A

CASE NAME:

CASE NUMBER:

MONTH: DECEMBERACCOUNTS RECEIVABLE AGING

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

AGING OF POSTPETITION TAXES AND PAYABLES 0 - 30 31-60 90+ Total

DAYS DAYS DAYS -$ -$ -$ -$

-$ -$ -$ -$

218,541.57$

STATUS OF POSTPETITION TAXES BEGINNING AMOUNT ENDING TAX WITHHELD AMOUNT TAXFEDERAL LIABILITY OR ACCRUED PAID LIABILITY

-$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$

-$ -$ -$ -$ -$ -$ -$ -$


19-40426

SCHEDULE AMOUNT

1. 0 - 302. 31 - 603. 61 - 904. 91 +5. TOTAL ACCOUNTS RECEIVABLE6. AMOUNT CONSIDERED UNCOLLECTIBLE7. ACCOUNTS RECEIVABLE (NET)

TAXES PAYABLE1. FEDERAL2. STATE3. LOCAL4. OTHER (ATTACH LIST)5. TOTAL TAXES PAYABLE

6. ACCOUNTS PAYABLE

11. UNEMPLOYMENT

1. WITHHOLDING2. FICA-EMPLOYEE3. FICA-EMPLOYER4. UNEMPLOYMENT5. INCOME6. OTHER (ATTACH LIST)

12. REAL PROPERTY13. PERSONAL PROPERTY14. OTHER (ATTACH LIST)15. TOTAL STATE & LOCAL16. TOTAL TAXES

7. TOTAL FEDERAL TAXESSTATE AND LOCAL8. WITHHOLDING9. SALES10. EXCISE



CASE NAME:

CASE NUMBER:MONTH: DECEMBER

PAYMENTS TO INSIDERS AND PROFESSIONALS

INSIDERSNAME TYPE OF PAYMENT AMOUNT PAID TTL PD TO DATE

N/AN/A N/AN/AN/ATOTAL PAYMENTS TO INSIDERS -$ -$

PROFESSIONALSDATE OF COURT ORDER AMOUNT AMOUNT TTL PAID TOTAL INCURRED

NAME AUTHORIZING PAYMENT APPROVED PAID TO DATE & UNPAID1. Singer & Levick Interim 357,558.07$ 8,429.24$ 329,433.74$ 28,124.33$ 2. Ross & Smith Interim 1,275,243.91$ 40,966.75$ 1,160,203.51$ 115,040.40$ 3. Thompson & Knight Interim 244,320.34$ 5,732.80$ 224,588.64$ 19,731.70$ 3. Trigild Inc. Interim 451,885.00$ 10,528.00$ 435,588.00$ 16,297.00$ 5.Winstead PC Interim 168,846.67$ 168,846.67$ -$ 6. KCC Interim 204,351.73$ 69,076.22$ 173,391.56$ 30,960.17$ 7. Sierrra Constellation Partners Interim 75,000.00$ -$ 75,000.00$ -$ TOTAL PAYMENTS TO PROFESSIONALS 2,777,205.72$ 134,733.01$ 2,567,052.12$ 210,153.60$

POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS

SCHEDULED AMOUNTS TOTALMONTHLY PAID UNPAID

NAME OF CREDITOR PAYMENTS DURING POST-DUE MONTH PETITION

-$ -$ -$


19-40426

4.5.6. TOTAL

1.2.3.



2020CASE NAME:

CASE NUMBER:MONTH:

QUESTIONNAIREYES NO

1.X

2.X

3.

X

4.X

5.X

6. X

7.X

8. X9. X

10.X

11.X

12. X

IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES"; PROVIDE A DETAILEDEXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.

INSURANCEYES NO

1. X

2. X3.

IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO" OR IF ANY POLICIES HAVE BEEN CANCELED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.

INSTALLMENT PAYMENTS

& FREQUENCYPERIOD

COVEREDCARRIER


19-40426

HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THEDEBTOR FROM ANY PARTY?

HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIESTHIS REPORTING PERIOD?

ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES ORLOANS) DUE FROM RELATED PARTIES?

HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNTOTHER THAN A DEBTOR IN POSSESSION ACCOUNT?

HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDETHE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD?

PAYMENT AMOUNT

DECEMBER

ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXESPAST DUE?

ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORSDELINQUENT?

HAVE ANY PREPETITION TAXES BEEN PAID DURING THEREPORTING PERIOD?

ARE ANY POSTPETITION PAYROLL TAXES PAST DUE?

ARE ANY OTHER POSTPETITION TAXES PAST DUE?

ARE ANY WAGE PAYMENTS PAST DUE?

ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHERNECESSARY INSURANCE COVERAGES IN EFFECT?

ARE ALL PREMIUM PAYMENTS PAID CURRENT?PLEASE ITEMIZE POLICIES BELOW

TYPE OFPOLICY

ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE?


Monthly Operating ReportCASH BASIS-S1

CASE NAME:

CASE NUMBER:

Schedule "B" Personal Property

Amount Date

2,000.00

2,000.00


19-40426

Description

Football Collectibles


Monthly Operating ReportCASH BASIS-S2

CASE NAME:

CASE NUMBER:

Calculation of US Trustee Fees

Disbursement Amount Intercompany Case. No.

US Trustee FeesQuarter 3 - 2019

679,499.10 CFO Management Holdings 4,875.00$

Grand Total 679,499.10 4,875.00


19-40426


Case 19-40426 Doc 666-1 Filed 01/20/21 Entered 01/20/21 17:42:01 Desc Account Statements Page 1 of 25

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