RS Legacy Corp - FORM 8-K - EX-99.1

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8-K - 8-K - RS Legacy Corp	d902146d8k.htm

Exhibit 99.1

UNITED STATES BANKRUPTCY COURT

FOR THE DISTRICT OF DELAWARE


In re RADIOSHACK CORP., et al.	:	Case No, 15-10197 (BLS)
Debtors.

MONTHLY OPERATING REPORT

RADIOSHACK CORPORATION, ET AL.

INDEX TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SCHEDULES


	Page
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Condensed Consolidated Balance Sheet		2
Condensed Consolidated Statement of Income		3
Condensed Consolidated Statement of Cash Flows		4

SCHEDULES

Schedule 1 – Condensed Consolidating Balance Sheet		5
Schedule 2 – Consolidating Statement of Income		8
Schedule 3 – Consolidating Statement of Cash Flows		11
Schedule 4 – Total Disbursements by Filed Legal Entity		13
Schedule 5 – Schedule of Federal, State, and Local Taxes Collected, Received, Due or Withheld		14
Schedule 6 – Total Disbursements to Retained Professionals		15
Schedule 7 – Accounts Receivable Aging		16
Schedule 8 – Summary of Unpaid Post-Petition Debts		17
Schedule 9 – Bank Reconciliations		18
Schedule 10 – Questionnaire		20

I do declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the documents attached are true and correct to the best of my knowledge and belief.



Signature of Debtor				Date


Signature of Joint Debtor				Date

/s/ William R. Russum				3/30/15
Signature of Authorized Individual*				Date

William R. Russum				Vice President – Corporate Controller
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.

RADIOSHACK CORPORATION, ET AL.

DEBTORS AND DEBTORS IN POSSESSION

*Condensed Consolidated Balance Sheets (unaudited)

*includes Mexico and Asia


(In millions)	February 28, 2015
Assets
Current assets:
Cash and cash equivalents	$	94.7
Accounts and notes receivable, net		117.7
Inventories		357.7
Other current assets		46.7

Total current assets		616.8

Property, plant and equipment, net		121.5
Other assets, net		45.7

Total assets	$	784.0


Liabilities and Stockholders’ Deficit
Current liabilities:
Current maturities of long-term debt	$	0.1
Accounts payable		130.3
Accrued expenses and other current liabilities		165.2

Total current liabilities		295.6

Long-term debt, excluding current maturities		705.3
Other non-current liabilities		181.8

Total liabilities		1,182.7


Stockholders’ deficit:
Preferred stock		—
Common stock		146.0
Additional paid-in capital		153.2
Retained earnings		309.1
Treasury stock, at cost		(999.4	)
Accumulated other comprehensive loss		(7.6	)

Total stockholders’ deficit		(398.7	)

Total liabilities and stockholders’ deficit	$	784.0

RADIOSHACK CORPORATION, ET AL.

DEBTORS AND DEBTORS IN POSSESSION

*Condensed Consolidated Statements of Income (unaudited)

*includes Mexico, Asia


(In millions)	For The Period February 6, 2015 through February 28, 2015
Net sales and operating revenues	$	134.2
Cost of products sold (includes depreciation amounts of $0.5 million)		100.3

Gross profit		33.9


Operating expenses:
Compensation		26.4
Rent & Occupancy		15.2
Advertising		1.4
Taxes		5.1
Utilities		2.2
Insurance		2.6
Credit Card Fees		1.7
Professional Fees		3.9
Repairs/Maintenance		0.8
Store Support		0.1
Licenses		1.0
Postage & Copy & Office		0.2
Recruiting, Training & Emp Relations		0.1
Other SG&A		3.4
Other Outside (Inc) / Exp		(0.1	)

Selling, General & Administrative Expenses		64.0
Depreciation and amortization		2.2

Total operating expenses		66.2


Operating loss		(32.3	)

Interest expense		(5.1	)
Other loss		(4.9	)


Loss from continuing operations before income taxes		(42.3	)
Income tax expense		0.5


Net loss	$	(42.8	)

RADIOSHACK CORPORATION, ET AL.

DEBTORS AND DEBTORS IN POSSESSION

*Condensed Consolidated Statements of Cash Flows (unaudited)

*includes Mexico, Asia


(In millions)	For The Period February 6, 2015 through February 28, 2015
Cash flows from operating activities:
Net cash provided by operating activities		97.1


Cash flows from investing activities:
Capital expenditures		(0.2	)
Changes in restricted cash		0.7

		0.5


Cash flows used by financing activities:
Repayments of long-term debt		(35.5	)
Changes in cash overdrafts		(9.3	)

		(44.8	)


Net increase in cash and cash equivalents		52.8
Cash and cash equivalents, beginning of period		41.9

Cash and cash equivalents, end of period	$	94.7

RADIOSHACK CORPORATION, ET AL.

DEBTORS AND DEBTORS IN POSSESSION

Condensed Consolidating Balance Sheet (unaudited)


	February 28, 2015
(In millions)	RadioShack Corporation			Tandy Finance Corporation		Merchandising Support Service Inc			Ignition LP		ITC Services Inc			TRS Quality Inc		RS Ig Holdings Inc.
Assets
Current assets:
Cash and cash equivalents	$	54.2			30.1		—			—		—			—		—
Accounts and notes receivable, net		114.5			—		—			—		—			—		—
Inventories		347.5			—		—			—		—			—		—
Other current assets		35.0			—		—			1.9		—			—		—

Total current assets		551.2			30.1		—			1.9		—			—		—

Property, plant and equipment, net		110.9			—		—			—		—			—		—
Intercompany receivable		—			1,656.2		29.5			199.9		—			38.7		—
Other assets, net		43.6			—		—			—		—			—		—

Total assets	$	705.7			1,686.3		29.5			201.8		—			38.7		—


Liabilities and Stockholders’ (Deficit) Equity
Current liabilities:
Current maturities of long-term debt	$	0.1			—		—			—		—			—		—
Accounts payable		101.4			—		—			1.5		—			—		—
Accrued expenses and other current liabilities		137.0			—		—			0.3		—			—		—

Total current liabilities		238.5			—		—			1.8		—			—		—

Long-term debt, excluding current maturities		705.3			—		—			—		—			—		—
Intercompany payable		1,822.6			—		—			—		5.2			—		1.2
Other non-current liabilities		181.8			—		—			—		—			—		—

Total liabilities		2,948.2			—		—			1.8		5.2			—		1.2


Preferred stock		—			—		—			—		—			—		—
Common stock		146.0			0.1		—			—		—			—		—
Additional paid-in capital		153.1			182.9		29.6			0.6		11.7					0.3
Retained earnings		(1,543.2	)		1,503.3		(0.1	)		199.4		(16.9	)		38.7		(1.5	)
Treasury stock, at cost		(999.4	)		—		—			—		—			—		—
Accumulated other comprehensive loss		1.0			—		—			—		—			—		—

Total stockholders’ (deficit) equity		(2,242.5	)		1,686.3		29.5			200.0		(5.2	)		38.7		(1.2	)

Total liabilities and stockholders’ (deficit) equity	$	705.7			1,686.3		29.5			201.8		—			38.7		—

RADIOSHACK CORPORATION, ET AL.

DEBTORS AND DEBTORS IN POSSESSION

Condensed Consolidating Balance Sheet (unaudited) – continued


	February 28, 2015
(In millions)	RadioShack Global Sourcing LP			RadioShack Global Sourcing Corp			Tandy Holdings Inc			RadioShack Global Sourcing Inc			Atlantic Retail Ventures Inc			Tandy International Corporation				SCK Inc
Assets
Current assets:
Cash and cash equivalents	$	—			—	0.1		—	—		—	0.2		—	—		—	—			—	—
Accounts and notes receivable, net		(0.6	)		—	—		—	—		—	—		—	—		—	—			—	1.7
Inventories		4.4			—	—		—	—		—	—		—	—		—	—			—	—
Other current assets		0.3			—	—		—	—		—	—		—	—		—	—			—	0.1

Total current assets		4.1			—	0.1		—	—		—	0.2		—	—		—	—			—	1.8

Property, plant and equipment, net		—			—	—		—	—		—	—		—	—		—	—			—	—
Intercompany receivable		117.0			—	6.8		—	28.6		—	0.5		—	0.3		—	—			—	—
Other assets, net		—			—	—		—	—		—	—		—	—		—	—			—	—

Total assets	$	121.1			—	6.9		—	28.6		—	0.7		—	0.3		—	—			—	1.8


Liabilities and Stockholders’ (Deficit) Equity
Current liabilities:
Current maturities of long-term debt	$	—			—	—		—	—		—	—		—	—		—	—			—	—
Accounts payable		13.5			—	—		—	—		—	—		—	—		—	—			—	0.1
Accrued expenses and other current liabilities		1.0			—	—		—	—		—	0.1		—	—		—	—			—	0.4

Total current liabilities		14.5			—	—		—	—		—	0.1		—	—		—	—			—	0.5

Long-term debt, excluding current maturities		—			—	—		—	—		—	—		—	—		—	—			—	—
Intercompany payable		—			—	—		—	—		—	—		—	—		—	3.4			—	26.8
Other non-current liabilities		—			—	—		—	—		—	—		—	—		—	—			—	—

Total liabilities		14.5			—	—		—	—		—	0.1		—	—		—	3.4			—	27.3


Commitments and contingencies (See Note 9)

Stockholders’ (deficit) equity:
Preferred stock		—			—	—		—	—		—	—		—	—		—	—			—	—
Common stock		—			—	—		—	—		—	—		—	—		—	—			—	—
Additional paid-in capital		26.4			—	—		—	3.8		—	—		—	—		—	—			—	—
Retained earnings		80.3			—	6.9		—	24.8		—	0.6		—	0.3		—	(3.4	)		—	(25.5	)
Treasury stock, at cost		—			—	—		—	—		—	—		—	—		—	—			—	—
Accumulated other comprehensive loss		(0.1	)		—	—		—	—		—	—		—	—		—	—			—	—

Total stockholders’ (deficit) equity		106.6			—	6.9		—	28.6		—	0.6		—	0.3		—	(3.4	)		—	(25.5	)

Total liabilities and stockholders’ (deficit) equity	$	121.1			—	6.9		—	28.6		—	0.7		—	0.3		—	—			—	1.8

RADIOSHACK CORPORATION, ET AL.

DEBTORS AND DEBTORS IN POSSESSION

Condensed Consolidating Balance Sheet (unaudited) – continued


	February 28, 2015
(In millions)	TE Electronics LP		RS Customer Service LLC			Trade and Save LLC		RS Ignite LLC			Total Debtors*
Assets
Current assets:
Cash and cash equivalents	$	—		—	—		—		—	—	$	84.6
Accounts and notes receivable, net		—		—	—		—		—	—		115.6
Inventories		9.1		—	—		—		—	—		361.0
Other current assets		0.6		—	—		—		—	—		37.9

Total current assets		9.7		—	—		—		—	—		599.1

Property, plant and equipment, net		0.5		—	—		—		—	—		111.4
Intercompany receivable		92.7		—	48.0		—		—	—		2,218.2
Other assets, net		—		—	—		—		—	—		43.6

Total assets	$	102.9		—	48.0		—		—	—		2,972.3


Liabilities and Stockholders’ (Deficit) Equity
Current liabilities:
Current maturities of long-term debt	$	—		—	—		—		—	—		0.1
Accounts payable		—		—	—		—		—	—		116.5
Accrued expenses and other current liabilities		0.1		—	17.7		—		—	—		156.6

Total current liabilities		0.1		—	17.7		—		—	—		273.2

Long-term debt, excluding current maturities		—		—	—		—		—	—		705.3
Intercompany payable		—		—	—		—		—	—		1,859.2
Other non-current liabilities		—		—	—		—		—	—		181.8

Total liabilities		0.1		—	17.7		—		—	—		3,019.5


Stockholders’ (deficit) equity:
Preferred stock		—		—	—		—		—	—		—
Common stock		—		—	—		—		—	—		146.1
Additional paid-in capital		3.0		—	5.8		—		—	—		417.2
Retained earnings		99.8		—	24.5		—		—	—		388.0
Treasury stock, at cost		—		—	—		—		—	—		(999.4	)
Accumulated other comprehensive loss		—		—	—		—		—	—		0.9

Total stockholders’ (deficit) equity		102.8		—	30.3		—		—	—		(47.2	)

Total liabilities and stockholders’ (deficit) equity	$	102.9		—	48.0		—		—	—	$	2,972.3

*	Does not Include eliminations

RADIOSHACK CORPORATION, ET AL.

DEBTORS AND DEBTORS IN POSSESSION

Condensed Consolidating Statements of Income (unaudited)


	For the period February 6, 2015 through February 28, 2015
(In millions)	RadioShack Corporation			Tandy Finance Corporation		Merchandising Support Service Inc		Ignition LP			ITC Services Inc.		TRS Quality Inc			RS Ig Holdings Inc
Net sales and operating revenues	$	127.5			—		—		—			—		—			—
Cost of products sold		89.9			—		—		1.9			—		—			—

Gross profit		37.6			—		—		(1.9	)		—		—			—


Operating expenses:
Compensation		26.6			—		—		0.4			—		—			—
Rent & Occupancy		14.5			—		—		—			—		—			—
Advertising		1.3			—		—		—			—		—			—
Taxes		5.1			—		—		—			—		—			—
Utilities		2.2			—		—		—			—		—			—
Insurance		2.7			—		—		—			—		—			—
Credit Card Fees		1.5			—		—		—			—		—			—
Professional Fees		3.8			—		—		—			—		(0.1	)		—
Repairs/Maintenance		0.8			—		—		—			—		—			—
Store Support		0.1			—		—		—			—		—			—
Licenses		1.1			—		—		—			—		—			—
Postage & Copy & Office		0.2			—		—		—			—		—			—
Recruiting, Training & Emp Relations		0.1			—		—		—			—		—			—
Other SG&A		3.1			—		—		—			—		—			—
Other Outside (Inc) / Exp		(0.2	)		—		—		—			—		—			—

Selling, general and administrative		62.9			—		—		0.4			—		(0.1	)		—
Depreciation and amortization		2.5			—		—		—			—		—			—

Total operating expenses		65.3			—		—		0.4			—		—			—


Operating Income (loss)		(27.7	)		—		—		(2.4	)		—		—			—

Interest Income		0.0			—		—		—			—		—			—
Interest expense		(5.1	)		—		—		—			—		—			—
Other Income (loss)		(5.7	)		0.8		—		—			—		—			—


Income (loss) from continuing operations before Income taxes		(38.5	)		0.8		—		(2.4	)		—		—			—
Income tax		0.4			—		—		—			—		—			—


Net Income (loss)	$	(38.9	)		0.8		—		(2.4	)		—		—			—

RADIOSHACK CORPORATION, ET AL.

DEBTORS AND DEBTORS IN POSSESSION

Condensed Consolidating Statements of Income (unaudited) – continued


	For the period February 6, 2015 through February 28, 2015
(In millions)	RadioShack Global Sourcing LP			RadioShack Global Sourcing Corp			Tandy Holdings Inc		RadioShack Global Sourcing Inc			Atlantic Retail Ventures Inc		Tandy International Corporation		SCK Inc
Net sales and operating revenues	$	—			—			—		—			—		—		1.1
Cost of products sold		(0.1	)		—			—		—			—		—		1.0

Gross profit		0.1			—			—		—			—		—		0.1


Operating expenses:
Compensation		—			0.1			—		0.1			—		—		—
Rent & Occupancy		—			—			—		—			—		—		—
Advertising		—			—			—		—			—		—		—
Taxes		—			—			—		—			—		—		—
Utilities		—			—			—		—			—		—		—
Insurance		—			—			—		—			—		—		—
Credit Card Fees		—			—			—		—			—		—		—
Professional Fees		—			—			—		—			—		—		0.2
Repairs/Maintenance		—			—			—		—			—		—		—
Store Support		—			—			—		—			—		—		—
Licenses		—			—			—		—			—		—		—
Postage & Copy & Office		—			—			—		—			—		—		—
Recruiting, Training & Emp Relations		—			—			—		—			—		—		—
Travel		—			—			—		—			—		—		—
Other SG&A		0.5			—			—		(0.1	)		—		—		0.1
Other Outside (Inc) / Exp		—			—			—		—			—		—		—

Selling, general and administrative		0.5			0.1			—		(0.0	)		—		—		0.3
Depreciation and amortization		—			—			—		—			—		—		—

Total operating expenses		0.5			0.1			—		—			—		—		0.3


Operating Income (loss)		(0.5	)		(0.1	)		—		—			—		—		(0.2	)

Interest Income		—			—			—		—			—		—		—
Interest expense		—			—			—		—			—		—		—
Other Income (loss)		—			—			—		—			—		—		—


Income (loss) from continuing operations before Income taxes		(0.5	)		(0.1	)		—		0.0			—		—		(0.2	)
Income tax		—			—			—		0.0			—		—		—


Net Income (loss)	$	(0.5	)		(0.1	)		—		0.0			—		—		(0.2	)

RADIOSHACK CORPORATION, ET AL.

DEBTORS AND DEBTORS IN POSSESSION

Condensed Consolidating Statements of Income (unaudited) – continued


	For the period February 6, 2015 through February 28, 2015
(In millions)	TE Electronics LP			RS Customer Service LLC		Trade and Save LLC		RS Ignite LLC		Total Debtors*
Net sales and operating revenues	$	—			—		—		—	$	128.6
Cost of products sold		—			—		—		—		92.8

Gross profit		—			—		—		—		35.8


Operating expenses:
Compensation		—			—		—		—		27.3
Rent & Occupancy		—			—		—		—		14.5
Advertising		—			—		—		—		1.3
Taxes		—			—		—		—		5.1
Utilities		—			—		—		—		2.2
Insurance		—			—		—		—		2.7
Credit Card Fees		—			—		—		—		1.5
Professional Fees		—			—		—		—		3.9
Repairs/Maintenance		—			—		—		—		0.8
Store Support		—			—		—		—		0.1
Licenses		—			—		—		—		1.1
Postage & Copy & Office		—			—		—		—		0.2
Recruiting, Training & Emp Relations		—			—		—		—		0.1
Travel		—			—		—		—		—
Other SG&A		—			—		—		—		3.6
Other Outside (Inc) / Exp		—			—		—		—		(0.2	)

Selling, general and administrative		—			—		—		—		64.2
Depreciation and amortization		—			—		—		—		2.6

Total operating expenses		0.1			—		—		—		66.8


Operating Income (loss)		(0.1	)		—		—		—		(31.0	)

Interest Income		—			—		—		—		0.0
Interest expense		—			—		—		—		(5.1	)
Other Income (loss)		—			—		—		—		(4.9	)


Income (loss) from continuing operations before Income taxes		(0.1	)		—		—		—		(41.0	)
Income tax		—			—		—		—		0.4


Net Income (loss)	$	(0.1	)		—		—		—	$	(41.4	)

*	Does not Include eliminations

RADIOSHACK CORPORATION, ET AL.

DEBTORS AND DEBTORS IN POSSESSION

Condensed Consolidating Statements of Cash Flows (unaudited)


	For the period February 6, 2015 through February 28, 2015
(In millions)	RadioShack Corporation			Tandy Finance Corporation		Merchandising Support Service Inc		Ignition LP			ITC Services Inc		TRS Quality Inc		RS Ig Holdings Inc
Net cash provided (used) by operating activities	$	96.1			1.0		—		(1.7	)		—		—		—


Cash flows from investing activities:
Capital expenditures		(0.1	)		—		—		—			—		—		—
Proceeds from sale of property, plant and equipment		0.0			—		—		—			—		—		—
Changes in restricted cash		0.7			—		—		—			—		—		—

		0.6			—		—		—			—		—		—


Cash flows provided (used) by financing activities:
Repayments of long-term debt		(35.5	)		—		—		—			—		—		—
Changes in cash overdrafts		(9.3	)		—		—		—			—		—		—
Change in intercompany receivable/payable		(31.0	)		29.0		—		1.7			—		—		—

		(75.8	)		29.0		—		1.7			—		—		—


Net Increase (decrease) in cash and cash equivalents		20.9			30.0		—		—			—		—		—
Cash and cash equivalents, beginning of period		33.3			0.1		—		—			—		—		—

Cash and cash equivalents, end of period	$	54.2			30.1		—		—			—		—		—


	For the period February 6, 2015 through February 28, 2015
(In millions)	RadioShack Global Sourcing LP				RadioShack Global Sourcing Corp				Tandy Holdings Inc			RadioShack Global Sourcing Inc				Atlantic Retail Ventures Inc			Tandy International Corporation			SCK Inc
Net cash provided (used) by operating activities	$	(2.6	)	—		(0.2	)	—		—	—		—		—		—	—		—	—		(1.1	)


Cash flows from investing activities:
Capital expenditures		—		—		—		—		—	—		—		—		—	—		—	—		—
Proceeds from sale of property, plant and equipment		—		—		—		—		—	—		—		—		—	—		—	—		—
Changes in restricted cash		—		—		—		—		—	—		—		—		—	—		—	—		—

		—		—		—		—		—	—		—		—		—	—		—	—		—


Cash flows provided (used) by financing activities:		—		—		—		—		—	—		—		—		—	—		—	—		—
Repayments of long-term debt		—		—		—		—		—	—		—		—		—	—		—	—		—
Changes in cash overdrafts		—		—		—		—		—	—		—		—		—	—		—	—		—
Change in intercompany receivable/payable		2.2		—		0.2		—		—	—		(0.1	)	—		—	—		—	—		1.1

		2.2		—		0.2		—		—	—		(0.1	)	—		—	—		—	—		1.1

Net Increase (decrease) in cash and cash equivalents		(0.4	)	—		—		—		—	—		(0.1	)	—		—	—		—	—		—
Cash and cash equivalents, beginning of period		0.5		—		—		—		—	—		0.3		—		—	—		—	—		—

Cash and cash equivalents, end of period	$	0.1		—		—		—		—	—		0.2		—		—	—		—	—		—

RADIOSHACK CORPORATION, ET AL.

DEBTORS AND DEBTORS IN POSSESSION

Condensed Consolidating Statements of Cash Flows (unaudited) – continued


	For the period February 6, 2015 through February 28, 2015
(In millions)	TE Electronics LP				RS Customer Service LLC			Trade and Save LLC			RS Ignite LLC		Total Debtors*
Net cash provided (used) by operating activities	$	0.3		—		—	—		—	—		—	$	91.8


Cash flows from investing activities:
Capital expenditures		—		—		—	—		—	—		—		(0.1	)
Proceeds from sale of property, plant and equipment		—		—		—	—		—	—		—		0.0
Changes in restricted cash		—		—		—	—		—	—		—		0.7

		—		—		—	—		—	—		—		0.6


Cash flows provided (used) by financing activities:
Repayments of long-term debt		—		—		—	—		—	—		—		(35.5	)
Changes in cash overdrafts		—		—		—	—		—	—		—		(9.3	)
Change in intercompany receivable/payable		(0.3	)	—		—	—		—	—		—		2.8

		(0.3	)	—		—	—		—	—		—		(42.0	)


Net Increase (decrease) in cash and cash equivalents		—		—		—	—		—	—		—		50.4
Cash and cash equivalents, beginning of period		—		—		—	—		—	—		—		34.2

Cash and cash equivalents, end of period	$	—		—		—	—		—	—		—	$	84.6

*	Does not Include eliminations

RADIOSHACK CORPORATION, ET AL.

DEBTORS AND DEBTORS IN POSSESSION

Total Disbursements By Filed Legal Entity (unaudited, in millions)


For the Period February 6, 2015 through February 28, 2015
Legal Entity	Case Number	Disbursements

RadioShack Corporation	15-10197	$	121.1

Tandy Finance Corporation	15-10211

Merchandising Support Services Inc	15-10202

Ignition LP	15-10200	$	0.3

ITC Services, Inc	15-10201

TRS Quality Inc	15-10217

RS Ig Holdings Inc	15-10208

Radioshack Global Sourcing LP	15-10206	$	0.2

Radioshack Global Sourcing Corp	15-10204

Tandy Holdings, Inc	15-10212

Radioshack Global Sourcing Inc	15-10207

Atlantic Retail Ventures, Inc	15-10199

Tandy International Corporation	15-10213

SCK Inc	15-10210

TE Electronics LP	15-10214	$	0.2

RS Customer Service LLC	15-10203

Trade and Save LLC	15-10215

RS Ignite LLC	15-10209

RADIOSHACK CORPORATION, ET AL.

DEBTORS AND DEBTORS IN POSSESSION

Schedule of Federal, State and Local Taxes Collected, Received, Due or Withheld (unaudited, in millions)


For the Period February 6, 2015 through February 28, 2015

Payroll Taxes
Payroll taxes withheld employee	$	5.3
Payroll taxes withheld employer	$	3.0
Total payroll taxes withheld	$	8.3
Amount of payroll tax remitted to tax authorities (1) (2)	$	7.2
Date(s) remitted to tax authorities		Various

Sales & Use Taxes
Sales & use tax collected and incurred	$	14.4
Amount of sales & use tax remitted to tax authorities (3)	$	12.4
Date(s) remitted to tax authorities		Various

Property taxes paid (4)	$	0.2

Other taxes paid (4)	$	0.1

(1)	Excludes Puerto Rico income tax withholding that is not remitted due to a settlement with the Puerto Rico Treasury

(2)	Payroll taxes remitted does not equal taxes withheld because of tax entity payment timing requirements and note (1)

(3)	Tax is remitted one month in arrears of collection month.

(4)	Payments include pre-petition liabilities

RADIOSHACK CORPORATION, ET AL.

DEBTORS AND DEBTORS IN POSSESSION

Total Disbursements to Retained Professionals (unaudited, in millions)


For the Period February 6, 2015 through February 28, 2015
Retained Professionals		Amount Approved		Disbursements

Prime Clerk	Claims Noticing Agent	$	0.1	$	0.1

RADIOSHACK CORPORATION, ET AL.

DEBTORS AND DEBTORS IN POSSESSION

Accounts Receivable Aging (unaudited, in millions)


February 28, 2015
Accounts Receivable Aging	Amount

0-30	$	56.2
30-60		7.1
60-90		7.3
91+		49.5

Total Accounts Receivable		120.1
Amount Considered Uncollectible		(2.4	)

Accounts Receivable, Net	$	117.7

RADIOSHACK CORPORATION, ET AL.

DEBTORS AND DEBTORS IN POSSESSION

Summary of Unpaid Post-Petition Debts (unaudited, in millions)


February 28, 2015
Accounts Payable Aging	Amount

0-30	$	0.9
30-60
60-90
91+

Total Accounts Payable*	$	0.9

*	Represents total post-petition trade accounts payable

RADIOSHACK CORPORATION, ET AL.

DEBTORS AND DEBTORS IN POSSESSION

*Bank Reconciliations (unaudited)

G/L Acct

Account Name

Bank Acct #

Debtor

Description

Bank
Balance

G/L
Balance

As of Date

Reconciled
as of
2/28/2015

100000

PAYCARD

XXXXXXXXXXXX0015

RadioShack Corporation

Disbursement

7,028

2/28/2015

Yes

101300

BANK OF AMERICA - TANDY CORP

XXXXXX6508

RadioShack Corporation

Disbursement

21,841,773

19,569,501

2/28/2015

Yes

101700

BANK OF AMERICA - RS SALUS RESIDUAL

XXXXXX5933

RadioShack Corporation

Disbursement

2,275,560

2/28/2015

Yes

101800

BANK OF AMERICA - RS SUB-OPERATING ACCT

XXXXXX6398

RadioShack Corporation

Disbursement

9,299,421

17,571,693

2/28/2015

Yes

143800

BANK OF AMERICA - RS LOC

XXXXXX3724

RadioShack Corporation

Disbursement

—

2/28/2015

Yes

104000

CITIZENS - ACH TAX

XXXX1017

RadioShack Corporation

Disbursement

10,494

581,922

2/28/2015

Yes

100000

BANK OF AMERICA

XXXXXX8593

Tandy Finance Corporation

Disbursement

—

2/28/2015

Yes

101100

CITIZENS - TANDY FINANCE INVESTMENT

XXXX1041

Tandy Finance Corporation

Disbursement

—

2/28/2015

Yes

105200

BANK OF AMERICA

XXXXXX8427

Tandy Finance Corporation

Disbursement

—

2/28/2015

Yes

105201

BANK OF FINANCE

XXXXXX7280

Tandy Finance Corporation

Disbursement

—

2/28/2015

Yes

105202

TCF BANK

XXXXXX9498

Tandy Finance Corporation

Disbursement

4,291

2/28/2015

Yes

105203

BBT BANK

XXXXXXXX8535

Tandy Finance Corporation

Disbursement

—

2/28/2015

Yes

105204

SOVEREIGN BANK

XXXXXXX0260

Tandy Finance Corporation

Disbursement

2/28/2015

Yes

105205

KEY BANK

XXXXXXXX8617

Tandy Finance Corporation

Disbursement

5,013

2/28/2015

Yes

105206

JP MORGAN CHASE

XXXXX0554

Tandy Finance Corporation

Disbursement

—

2/28/2015

Yes

105207

DEUTSCHE BANK

XXXX5788

Tandy Finance Corporation

Disbursement

—

2/28/2015

Yes

105208

STONECASTLE BANK

XXXXXXXX1495

Tandy Finance Corporation

Disbursement

—

2/28/2015

Yes

100000

CITIBANK

XXXX4989

RadioShack Corporation

Disbursement

—

(877

)

2/28/2015

Yes

100000

WACHOVIA - DTC

XXXXXXXXX0466

RadioShack Corporation

Disbursement

—

2/28/2015

Yes

100000

BANK OF AMERICA - A/R LOCKBOX

XXXXXX4945

RadioShack Corporation

Disbursement

5,000

2/28/2015

Yes

100000

WELLS FARGO BANK -P CARD

XXXXXX6839

RadioShack Corporation

Disbursement

1,988

—

2/28/2015

Yes

100000

BANK OF AMERICA - UHC-MEDICAL

XXXXXXXX2301

RadioShack Corporation

Disbursement

1,191,409

49,786

2/28/2015

Yes

100000

BANK OF AMERCIA - UHC-FSA

XXXXXXXX2291

RadioShack Corporation

Disbursement

26,814

(10,168

)

2/28/2015

Yes

100000

WELLS FARGO BANK FUNDING

XXXXXX3027

RadioShack Corporation

Disbursement

—

2/28/2015

Yes

100000

WELLS FARGO BANK P/R

XXXXXX0674

RadioShack Corporation

Payroll Disbursement

—

2/28/2015

Yes

100000

WELLS FARGO BANK A/P

XXXXXX0689

RadioShack Corporation

APAY Disbursement

—

111

2/28/2015

Yes

100000

BANK OF AMERICA - RS MASTER DEPOSITORY

XXXXXX5688

RadioShack Corporation

Depository Account

—

109,495

2/28/2015

Yes

102000

CITIZENS - OPERATIN ACCOUNT

XXXX0991

RadioShack Corporation

Disbursement

1,661,375

2,158,548

2/28/2015

Yes

102100

CITIZENS - SUB-OPERATING ACCOUNT

XXXX1025

RadioShack Corporation

Not Active Account

n/a

2/28/2015

n/a

100000

CITIZENS - ACCOUNTS PAYABLE

XXXXXX0970

RadioShack Corporation

APAY Disbursement

268,536

(1,294,239

)

2/28/2015

Yes

100000

CITIZENS - PAYROLL

XXXXXX0962

RadioShack Corporation

Payroll Disbursement

196,452

(55,977

)

2/28/2015

Yes

100700

BANK OF TEXAS - CASHIER CHECK

XXXXX3264

RadioShack Corporation

Disbursement

—

2/28/2015

Yes

101000

BANK OF AMERICA - A&A LA OFFICE

XXXXXX2696

RadioShack Global Sourcing LP

Disbursement

—

21,250

2/28/2015

Yes

101400

BANK OF AMERICA - A&A INTERNATIONAL

XXXXXX2572

RadioShack Global Sourcing LP

Disbursement

—

2/28/2015

Yes

107000

WACHOVIA - A&A

XXXXXXXXX1076

RadioShack Global Sourcing LP

Disbursement

18,733

2/28/2015

Yes

100000

Bank of America - RS.COM

XXXXXX7003

RadioShack Corporation

Disbursement

—

2/28/2015

Yes

100000

BANK OF AMERICA - RS CENTRAL FRANCHISE

XXXXXX4765

RadioShack Corporation

Disbursement

—

18,587

2/28/2015

Yes

100000

BANK OF AMERICA - RS FRANCHISE INTERNATIONAL

XXXXXX2881

RadioShack Corporation

Disbursement

—

508,556

2/28/2015

Yes

*	(does not reflect retail location accounts)

RADIOSHACK CORPORATION, ET AL.

DEBTORS AND DEBTORS IN POSSESSION

Questionnaire


				Yes	No
1. Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below. Lease termination agreements with original owners approved by the bankruptcy court Store liquidations in compliance with bankruptcy court orders				X

2. Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below.					X

3. Have all postpetition tax returns been timely filed? If no, provide an explanation below.				X

4. Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below.				X

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 Delaware Local Rule 4001-3.				X

Account Name	Purpose	Busines Unit	Account Number	Bank Name	Date Opened
Utilities	Utility Order - carve out for pre-petition utility claims	01-0121	XXXXXX9006	Bank of America	2/9/2015
Utilities #2	Utility Order - carve out for Waste Management pre-petition claims	01-0121	XXXXXX9187	Bank of America	2/9/2015
DIP Funding	Debtor in Possession Funding Order - post-petition loans, advances and other financial accommodations	01-0121	XXXXXX9019	Bank of America	2/9/2015
Professional Fees	Professional Fees Order - carve out for post-petition professional fees	01-0121	XXXXXX9022	Bank of America	2/9/2015
Tax Account	Tax Order - carve out for pre-petition tax claims	01-0121	XXXXXX9611	Bank of America	2/26/2015
Lease Recovery	Segregated Account - temporary receipt of lease bids until bid winner determined	01-0121	XXXXXX9899	Bank of America	3/4/2015
Occupancy Expenses	Segregated Account - prepaid CAM costs from winning lease bidders applied to future rents paid by RadioShack	01-0121	XXXXXX9909	Bank of America	3/3/2015
RS Corp NewCo Holding	Segregated Account - NewCo Cash Funds	01-0121	XXXXXX2129	Bank of America	pending

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