RONSON CORP - FORM 8-K - EX-99.2 - EXHIBIT 99.2

Attached files

RCPC Liquidating Corp

10-35318-MBK

Reporting Period

08/18/10 - 09/30/10

BALANCE SHEET

Accrual Basis

file	filename
8-K - FORM 8K - RONSON CORP	form8k-112539_rclc.htm
EX-99.1 - EXHIBIT 99.1 - RONSON CORP	ex99-1.htm
EX-99.3 - EXHIBIT 99.3 - RONSON CORP	ex99-3.htm

Exhibit 99.2

UNITED STATES BANKRUPTCY COURT
DISTRICT OF NEW JERSEY


In re	RCPC Liquidating Corp		Case No.		10-35318-MBK
			Reporting Period		08/18/10 - 09/30/10

MONTHLY OPERATING REPORT
File with Court and submit copy to United States Trustee within 20 days after end of month.


Submit copy of report to any official committee appointed in the case

			Document	Explanation	Affidavit/Supplement
REQUIRED DOCUMENTS		Form No.	Attached	Attached	Attached
Schedule of Cash Receipts and Disbursements		MOR-1	X
Bank Reconciliation (or copies of debtor's bank reconciliation)		MOR-1a	X
Schedule of Professional Fees Paid		MOR-1b	X
Copies of bank statements			X
Cash disbursements journals			None
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			N/A
Copies of tax returns filed during reporting period			None
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/ Daryl Holcomb					Nov. 18, 2010
Signature of Authorized Individual *					Date


Daryl Holcomb					Vice President
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 re	RCPC Liquidating Corp	Case No.	10-35318-MBK
		Reporting Period	08/18/10 - 09/30/10

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

		Bank Accounts								Current Month				Cumulative Filing to Date
		Operating		Payroll		Tax		Other		Actual		Projected		Actual		Projected

Cash Beginning of Month		$	55,214.76	$	100.00	$	92.74	$	-	$	55,407.50	$	-	$	55,407.50	$	-

Receipts		Amount		Amount		Amount		Amount		Amount		Amount		Amount		Amount
	Cash Sales	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-
	Accounts Receivable										-
	Loans and Advances										-
	Sale of Assets										-
	Other (Attach List)										-
	Transfers (From DIP Accts.)										-

	Total Receipts	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-



Disbursements		Amount		Amount		Amount		Amount		Amount		Amount		Amount		Amount
	Net Payroll	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-
	Payroll Taxes										-
	Sales, Use, & Other Taxes										-
	Inventory Purchases										-
	Secured/Rental/Leases										-
	Insurance										-
	Administrative										-
	Selling										-
	Other (Attach List)										-
											-
	Owner Draw *										-
	Transfers (To DIP Accts)										-
											-
	Professional Fees										-
	U.S. Trustee Quarterly Fees										-
	Court Costs										-

	Total Disbursements	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-


Net Cash Flow
(Receipts Less Disbursements)			-		-		-		-		-				-



Cash - End of Month		$	55,214.76	$	100.00	$	92.74	$	-	$	55,407.50	$	-	$	55,407.50	$	-
* Compensation to Sole Proprietors for Services Rendered to Bankruptcy Estate


	THE FOLLOWING SECTION MUST BE COMPLETED
Disbursements for Calculating U.S. Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements																$	-
	Less: Transfers to 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																$	-


*	In accordance with the terms of the pre-petition sale of substantially all of its assets, the Debtor entered into a pre-petition escrow agreement with the buyer, setting up an escrow account, pursuant to which the buyer and the Debtor, as seller, are permitted to draw certain sums therefrom, solely to the extent provided in that agreement. While the Debtor has a residual interest in the escrow account (which residual interest is property of the estate), the escrow account and the funds therein are not property of the Debtor's estate and the Debtor does not control the release of the funds therein. Accordingly, the Debtor submits that distributions from the escrow account, which are made by a disbursing agent and not the Debtor, should not be used in calculating the U.S. Trustee Quarterly Fee. For purposes of disclosure, however, the Debtor discloses that during the reporting period, the disbursing agent, in accordance with the terms of the escrow agreement, disbursed the sum of $6,169.94 from the funds held in that escrow account.

In re	RCPC Liquidating Corp	Case No.	10-35318-MBK
		Reporting Period	08/18/10 - 09/30/10

BANK RECONCILIATIONS

Continuation Sheet for MOR-1

		Operating					Tax						Cash Collateral			Operating			Payroll			Other
		Wells Fargo Bank, NA					Wells Fargo Bank, NA						Capital One Bank			Capital One Bank			Capital One Bank
		*					*						*			*			*

Balance Per Book				$	29,469.58			$	92.74		$	-		$	-		$	25,745.18		$	100.00		$	-

Balance Per Bank				$	29,698.26			$	92.74		$	-		$	-		$	25,685.23		$	100.00		$	-
(+) Deposits in Transit (Attach List)					-				-			-			-			-			-			-
(-) Outstanding Checks (Attach List)					(228.68	)			-			-			-			-			-			-
Other (Attach Explanation)					-				-			-			-			59.95			-			-
Adjusted Bank Balance *				$	29,469.58			$	92.74		$	-		$	-		$	25,745.18		$	100.00		$	-
* 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
				$	-			$	-		$	-		$	-		$	-		$	-		$	-



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


Checks Outstanding		Ck.#		Amount			Ck.#	Amount		Ck.#	Amount		Ck.#	Amount		Ck.#	Amount		Ck.#	Amount		Ck.#	Amount
	Voided in October		243811	$	228.68			$	-		$	-		$	-		$	-		$	-		$	-







				$	228.68			$	-		$	-		$	-		$	-		$	-		$	-


Other
	Pay Pal Service Charge			$	-			$	-		$	-		$	-		$	59.95		$	-		$	-




				$	-			$			$			$			$	59.95		$			$

* Account number has been redacted.

In re

RCPC Liquidating Corp

Case No.

10-35318-MBK

Reporting Period

08/18/10 - 09/30/10

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

This schedule is to include all retained professional payments from case inception to current month.

Period

Amount

Check

Amount Paid

Year-To-Date

Payee

Covered

Approved

Payor

Number

Date

Fees

Expenses

Fees

Expenses

NONE

In re	RCPC Liquidating Corp		Case No.		10-35318-MBK
			Reporting Period		08/18/10 - 09/30/10


STATEMENT OF OPERATIONS
(Income Statement)
Accrual Basis


				Cumulative
Revenues	Month			Filing to Date
Gross Revenues	$	-		$	-
Less: Returns and Allowances
Net Revenue		-			-

Cost of Goods Sold
Beginning Inventory
Add: Purchases
Add: Cost of Labor
Add: Other Costs (attach schedule)
Less: Ending Inventory
Cost of Goods Sold		-			-
Gross Profit		-			-

Operating Expenses
Advertising
Auto and Truck Expense
Bad Debts
Contributions
Employee Benefits Programs
Insider Compensation *
Insurance
Management Fees/Bonuses
Office Expense
Pension & Profit-Sharing Plans
Repairs and Maintenance
Rent and Lease Expense
Salaries/Commissions/Fees
Supplies
Taxes - Payroll
Taxes - Real Estate
Taxes - Other
Travel and Entertainment
Utilities
Other (attach schedule)
Total Operating Expenses Before Depreciation		-			-
Depreciation/Depletion/Amortization
Net Profit (Loss) Before Other Income & Expenses		-			-

Other Income and Expenses
Other Income (attach schedule)		(533.34	)		(533.34	)
Interest Expense		6.65			6.65
Other Expense (attach schedule)		(526.69	)		(526.69	)
Net Profit (Loss) Before Reorganization Items		526.69			526.69

Reorganization Items
Professional 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)	$	526.69		$	526.69

In re	RCPC Liquidating Corp	Case No.	10-35318-MBK
		Reporting Period	08/18/10 - 09/30/10

STATEMENT OF OPERATIONS - continuation sheet

			Cumulative
Breakdown of "Other" Category	Month		Filing to Date

Other Costs
	$	-	$	-




	$	-	$	-
Other Operational Expenses
	$	-	$	-




	$	-	$	-
Other Income
Interest income - escrow accounts	$	533.34	$	533.34




	$	533.34	$	533.34
Other Expenses
	$	-	$	-




	$	-	$	-
Other Reorganization Expenses
	$	-	$	-




	$	-	$	-


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.

	Book Value at End of		Book Value on
Assets	Current Reporting Month		Petition Date
Current Assets
Unrestricted Cash and Equivalents		55,407.50		55,407.50
Restricted Cash and Equivalents (see continuation sheet)		1,311,774.64		1,317,411.24
Accounts Receivable (Net)
Notes Receivable
Inventories
Prepaid Expenses		8,973.52		8,973.52
Professional Retainers
Other Current Assets (attach schedule)		22,721.00		22,721.00
Total Current Assets	$	1,398,876.66	$	1,404,513.26

Property and Equipment
Real Property and Improvements
Machinery and Equipment
Furniture, Fixtures and Office Equipment
Leasehold Improvements
Vehicles
Less Accumulated Depreciation
Total Property & Equipment	$	-	$	-

Other Assets
Loans to Insiders *
Other Assets (see schedule)		3,168,615.99		3,168,615.99
Total Other Assets	$	3,168,615.99	$	3,168,615.99

Total Assets	$	4,567,492.65	$	4,573,129.25

	Book Value at End of		Book Value on
Liabilities And Owner Equity	Current Reporting Month		Petition Date
Liabilities Not Subject to Compromise (Postpetition)
Accounts Payable
Taxes Payable (refer to Form MOR-4)
Wages Payable
Notes Payable
Rent/Leases - Building/Equipment
Secured Debt / Adequate Protection Payments
Professional Fees
Amounts Due to Insiders *
Other Postpetition Liabilities (attach schedule)
Total Postpetition Liabilities	$	-	$	-
Liabilities Subject to Compromise
Secured Debt		957.21		1,940.56
Priority Debt		1,022.54		1,022.54
Unsecured Debt		3,237,466.39		3,242,646.33
Total Pre-Petition Liabilities	$	3,239,446.14	$	3,245,609.43
Total Liabilities	$	3,239,446.14	$	3,245,609.43

Owner Equity
Capital Stock		100.00		100.00
Additional Paid-In Capital		1,250,000.00		1,250,000.00
Partners' Capital Account
Owner's Equity Account
Retained Earning - Pre-Petition		74,687.82		74,687.82
Retained Earning - Postpetition		526.69
Adjustments to Owner Equity (attach schedule)		2,732.00		2,732.00
Postpetition contributions (Distributions) (Draws) (attach schedule)
Net Owner Equity	$	1,328,046.51	$	1,327,519.82

Total Liabilities and Owners' Equity	$	4,567,492.65	$	4,573,129.25

	$	-	$	-

	Book Value at End of		Book Value on
Assets	Current Reporting Month		Petition Date
Other Current Assets
Deferred income tax assets		22,721.00



	$	22,721.00	$	-
Other Assets
Account receivable - RCC, Inc.		263,206.89		263,206.89
Account receivable - RA Liquidating Corp		2,473,273.07		2,473,273.07
Deferred income tax assets		432,136.03		432,136.03

	$	3,168,615.99	$	3,168,615.99


	Book Value at End of		Book Value on
Liabilities And Owner Equity	Current Reporting Month		Petition Date
Other Postpetition Liabilities






	$	-	$	-

Adjustments to Owner Equity
Accum other comprehensive loss		2,732.00		2,732.00



	$	2,732.00	$	2,732.00

Postpetition contributions (Distributions) (Draws) (attach schedule)




	$	-	$	-