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

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RONSON CORP Reports

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8-K - FORM 8K - RONSON CORP	form8k-112576_rclc.htm
EX-99.3 - EXHIBIT 99.3 - RONSON CORP	ex99-3.htm
EX-99.1 - EXHIBIT 99.1 - RONSON CORP	ex99-1.htm

UNITED STATES BANKRUPTCY COURT
DISTRICT OF NEW JERSEY


In re	RCPC Liquidating Corp	Case No.	10-35318-MBK
		Reporting Period	10/01/10 - 10/31/10

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	None
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					December 16, 2010
Signature of Authorized Individual *					Date


Daryl K Holcomb					Vice President & Chief Financial Officer
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	10/01/10 - 10/31/10

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)		2,541,395.39									2,541,395.39				2,541,395.39
Transfers (From DIP Accts.)		92.74									92.74				92.74

Total Receipts	$	2,541,488.13	$	-	$	-		$	-	$	2,541,488.13	$	-	$	2,541,488.13	$	-



Disbursements	Amount		Amount		Amount			Amount		Amount		Amount		Amount		Amount
Net Payroll	$	-	$	-	$	-		$	-	$	-	$	-	$	-	$	-
Payroll Taxes											-				.
Sales, Use, & Other Taxes											-				-
Inventory Purchases											-				-
Secured/Rental/Leases											-				-
Insurance											-				-
Administrative		157.30									157.30				157.30
Selling											-				-
Other (Attach List)											-				-
Fee to NJDEP		150.00									150.00				150.00
Owner Draw *											-				-
Transfers (To DIP Accts)						92.74					92.74				92.74
											-				-
Professional Fees											-				-
U.S. Trustee Quarterly Fees		325.00									325.00				325.00
Court Costs											-				-

Total Disbursements	$	632.30	$	-	$	92.74		$	-	$	725.04	$	-	$	725.04	$	-


Net Cash Flow
(Receipts Less Disbursements)		2,540,855.83		-		(92.74	)		-		2,540,763.09				2,540,763.09



Cash - End of Month	$	2,596,070.59	$	100.00	$	-		$	-	$	2,596,170.59	$	-	$	2,596,170.59	$	-

* Compensation to Sole Proprietors for Services Rendered to Bankruptcy Estate
				Closed	Closed

	THE FOLLOWING SECTION MUST BE COMPLETED
Disbursements for Calculating U.S. Trustee Quarterly Fees: (From Current Month Actual Column)
Total Disbursements										$	725.04
	Less: Transfers to Debtor in Possession Accounts										(92.74	)
*	Plus: Estate Disbursements Made by Outside Sources (i.e. from escrow accounts)										-
Total Disbursements for Calculating U.S. Trustee Quarterly Fees										$	632.30

	* 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, did not disburse any amount from the funds held in that escrow account.

Other Receipts:
	Reinstatement of custodial funds by Wells Fargo	$	2,527,566.71			$	2,527,566.71	$	2,527,566.71
	Deposit from escrow account	$	13,600.00			$	13,600.00	$	13,600.00
	Void June check not cashed		228.68				228.68		228.68
	Total	$	2,541,395.39			$	2,541,395.39	$	2,541,395.39

In re

RCPC Liquidating Corp

Case No.

10-35318-MBK

Reporting Period

10/01/10 - 10/31/10

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		$	29,791.00		$	-		$	-		$	2,566,754.59		$	100.00		$	-

Balance Per Bank		$	29,791.00		$	-		$	-		$	2,566,754.59		$	100.00		$	-
(+) Deposits in Transit (Attach List)			-			-			-			-			-			-
(-) Outstanding Checks (Attach List)						-			-			-			-			-
Other (Attach Explanation)			-			-			-						-			-
Adjusted Bank Balance *		$	29,791.00		$	-		$	-		$	2,566,754.59		$	100.00		$	-
* Adjusted bank balance must equal
balance per books
					Closed


Deposits in Transit	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
					$	-		$	-		$	-		$	-		$	-







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


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	10/01/10 - 10/31/10

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		10/01/10 - 10/31/10


STATEMENT OF OPERATIONS
(Income Statement)
Accrual Basis

				Cumulative
Revenues	Month			Filing to Date
Gross Revenues	$	-		$	-
Less: Returns and Allownces
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		12,205.66			12,205.66
Management Fees/Bonues
Office Expense		157.30			157.30
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
Utilites
Other (attach schedule)		1,190.13			1,190.13
Total Operating Expenses Before Depreciation		13,553.09			13,553.09
Depreciation/Depletion/Amortization
Net Profit(Loss) Before Other Income & Expenses		(13,553.09	)		(13,553.09	)

Other Income and Expenses
Other Income (attach schedule)		(193.23	)		(726.57	)
Interest Expense					6.65
Other Expense (attach schedule)					-
		(193.23	)		(719.92	)

Net Profit (Loss) Before Reorganization Items		(13,359.86	)		(12,833.17	)

Reorganization Items
Professional Fees		126,860.73			126,860.73
U.S. Trustee Quarterly Fees		325.00			325.00
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		127,185.73			127,185.73
Income Taxes - Deferred & Allocation		(222,265.00	)		(222,265.00	)
Income Taxes - Current		-			-
Net Profit (Loss)	$	81,719.41		$	82,246.10

In re	RCPC Liquidating Corp	Case No.	10-35318-MBK
		Reporting Period	10/01/10 - 10/31/10

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	$	193.23	$	726.57




	$	193.23	$	726.57
Other Expenses
Bank Fees	$	1,190.13	$	1,190.13
			$	-



	$	1,190.13	$	1,190.13
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		2,596,170.59		55,407.50
Restricted Cash and Equivalents (see continuation sheet)		1,298,367.87		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)		30,347.00		22,721.00
Total Current Assets	$	3,933,858.98	$	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)		263,206.89		3,168,615.99
Total Other Assets	$	263,206.89	$	3,168,615.99

Total Assets	$	4,197,065.87	$	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
Unsecured Debt		2,786,862.74		3,243,166.33
Total Pre-Petition Liabilities	$	2,787,819.95	$	3,246,129.43
Total Liabilities	$	2,787,819.95	$	3,246,129.43

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		74,167.82		74,167.82
Retained Earning - Postpetition		82,246.10
Adjustments to Owner Equity (attach schedule)		2,732.00		2,732.00
Postpetition contributions (Distributions) (Draws) (attach schedule)
Net Owner Equity	$	1,409,245.92	$	1,326,999.82

Total Liabilities and Owners' Equity	$	4,197,065.87	$	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		30,347.00



	$	30,347.00	$	-
Other Assets
Account receivable - RCC, Inc.		263,206.89		263,206.89
Account receivable - RA Liquidating Corp		-		2,473,273.07
Deferred income tax assets		-		432,136.03

	$	263,206.89	$	3,168,615.99


	Book Value at End of		Book Value on
Liabilities And Owner Equity	Current Reporting Month		Petition Date
Other Postpetition Liabilities
Deferred income tax assets		346,687.97





	$	346,687.97	$	-

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)




	$	-	$	-

In re

RCPC Liquidating Corp

Case No.

10-35318-MBK

Reporting Period

10/01/10 - 10/31/10

STATUS OF POSTPETITION TAXES

	Beginning		Amount Withheld						Check No.		Ending
	Tax Liability		or Accrued		Amount Paid		Date Paid		or EFT		Tax Liability
Federal
Withholding	$	-	$	-	$	-					$	-
FICA-Employee												-
FICA-Employer												-
Unemployment												-
Income												-
Other:												-
Total Federal Taxes	$	-	$	-	$	-					$	-

State and Local
Withholding		-		-		-						-
Sales												-
Excise												-
Unemployment												-
Real Property												-
Personal Property
Other:												-
Total State and Local	$	-	$	-	$	-					$	-

Total Taxes	$	-	$	-	$	-					$	-


SUMMARY OF UNPAID POSTPETITION DEBTS

Attach aged listing of accounts payable
	Current		0-30		31-60		61-90		Over 90		Total
Accounts Payable	$	-	$	-	$	-	$	-	$	-	$	-
Wages Payable
Taxes Payable
Rent/Leases-Building
Rent/Leases-Equipment
Secured Debt/Adequate Protection Payments
Professional Fees
Amounts Due to Insiders *
Other:
Other:
Total Postpetition Debts	$	-	$	-	$	-	$	-	$	-	$	-

In re	RCPC Liquidating Corp	Case No.	10-35318-MBK
		Reporting Period	10/01/10 - 10/31/10

ACCOUNTS RECEIVABLE RECONCILING AND AGING


Accounts Receivable Reconciliation		Amount
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		Amount
0 - 30	days old		-
1 - 60	days old		-
61 - 90	days old		-
91 +	days old		-
Total Accounts Receivable				$	-
Amounts considered uncollectible (Bad Debt)
Accounts Receivable (Net)				$	-

DEBTOR QUESTIONNAIRE

Must be completed each month		Yes	No
1.	Have any assets been sold or transferred outside the normal course of business		X
	this reporting period? If yes, provide an explanation below.
2.	Have any funds been disbursed from any account other than a debtor in possession		X
	account this reporting period? If yes, provide an explanation
3.	Have all postpetition tax returns been timely filed? If no, provide an explanation	X
	below.
4.	Are workers compensation, general liability and other necessary insurance	X
	coverage in effect? If no, provide an explanation below.
5.	Has any bank account been opened during the reporting period? If yes, provide	X
	documentation identifying the opened account(s).

5	The Company opened the RCPC Liquidating Corp Tax Payment/Debtor-in-Possession account at Capital One Bank,
	account # 7057179974.

RCPC Liquidating Corp

10-35318-MBK

Reporting Period

10/01/10 - 10/31/10

BALANCE SHEET

Accrual Basis