Horsehead Holding Corp - FORM 8-K - EX-99.1 - EXHIBIT 99.1

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8-K - 8-K - Horsehead Holding Corp	a8kmordipreportingforjune2.htm



UNITED STATES BANKRUPTCY COURT				EXHIBIT 99.1
FOR THE DISTRICT OF DELAWARE

In re: HORSEHEAD HOLDING CORP		Case No. 16-10287, 288, 289, 290, 291
Debtor		Reporting Period: June 1 - June 30, 2016

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 Attached
REQUIRED DOCUMENTS	Form No.	Attached	Attached	Affidavit/Supplement Attached
Schedule of Cash Receipts and Disbursements	MOR-1	x
Bank Reconciliation (or copies of debtor's bank reconciliations)	MOR-1a		x
Schedule of Professional Fees Paid	MOR-1b	x
Copies of bank statements			x
Cash disbursements journals			x
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		n/a
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/ Timothy D. Boates	7/20/16
Signature of Authorized Individual*	Date

Timothy D. Boates	Chief Restructuring 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: HORSEHEAD HOLDING CORP										MOR 1								Case No. 16-10287, 288, 289, 290, 291
Debtor										Month-to-Date								Reporting Period: June 1 - June 30, 2016

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
Amounts reported should be per the debtor's books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the
first report, the amount should be the balance on the date the petition was filed. The amounts reported in the "CURRENT MONTH - ACTUAL" column must
equal the sum of the four bank account columns. The amounts reported in the "PROJECTED" columns should be taken from the SMALL BUSINESS INITIAL
REPORT (FORM IR-1) . Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal
must equal the total disbursements reported on this page. A bank reconciliation must be attached for each account. [See MOR-1 (CON'T)]

	16-10287 HORSEHEAD HOLDINGS CORPORATION						16-10288 HORSEHEAD CORPORATION														16-10290 INMETCO
	WFC -2552		PNC -3765		TOTAL		PNC -3127		WFC -9756	WFC 6331		PNC -7517		PNC -7525		WFC -1949		WFC -1931		TOTAL	WFC -4964	WFC -5018		WFC -0254		TOTAL

BEGINNING BALANCE	9,908,618		92		9,908,710		150,232		2,678,997	—		3,162,771		—		(11,381	)	(2,004,926	)	3,975,693	5,270,014	—		(256,641	)	5,013,373

CASH RECEIPTS
Trade Receipts	—		—		—		—		—	12,065,083		—		1,122,336		—		—		13,187,419	—	3,055,811		—		3,055,811
Other Receipts	1,973		—		1,973		—		—	—		—		—		—		—		—	—	—		—		—
TOTAL RECEIPTS	1,973		—		1,973		—		—	12,065,083		—		1,122,336		—		—		13,187,419	—	3,055,811		—		3,055,811

CASH DISBURSEMNTS
Payroll & Taxes	—		—		—		—		2,671,754	—		—		—		95,622		15,359		2,782,735	16,762	—		—		16,762
Benefits	—		—		—		—		951,607	—		—		(90	)	—		17,481		968,997	—	75		46,207		46,282
Purchases	—		—		—		—		2,368,264	—		—		—		—		733,850		3,102,114	30,950	—		232,249		263,199
Freight	—		—		—		—		1,653,642	—		—		—		—		1,691,592		3,345,234	—	49		79,330		79,379
Utilities	—		—		—		—		—	—		(322,102	)	—		—		727,033		404,931	434,749	—		48,963		483,712
Leases	—		—		—		—		5,400	—		—		—		—		—		5,400	—	—		—		—
Insurance	—		—		—		—		1,581,837	—		—		—		—		23,567		1,605,403	—	—		50,937		50,937
Miscellaneous	(167,540	)	—		(167,540	)	5,601		265,613	—		1,937		—		—		185,618		458,769	4,556	153		6,499		11,208
Contract Services	—		—		—		—		720,942	—		—		—		—		1,121,398		1,842,341	12,400	—		217,955		230,355
Supplies	—		—		—		—		166,861	—		—		—		—		999,355		1,166,216	—	—		340,221		340,221
Other Operating costs	—		—		—		—		68,872	—		—		—		—		2,617		71,490	—	—		83,992		83,992
DIP fees	—		—		—		—		687,500	—		—		—		—		—		687,500	—	—		—		—
Professional Fees	—		—		—		—		5,316,758	—		—		—		—		—		5,316,758	—	—		—		—
CapEx	—		—		—		—		38,172	—		—		—		—		—		38,172	—	—		507,549		507,549
Utility Deposits	—		—		—		—		3,661	—		—		—		—		—		3,661	—	—		—		—
Macquarie interest	—		—		—		—		217,446	—		—		—		—		—		217,446	—	—		—		—
503(b)(9) Payments	—		—		—		—		—	—		—		—		—		92,855		92,855	—	—		—		—
Critical Vendors - Freight	—		—		—		—		556,327	—		—		—		—		—		556,327	26,990	—		—		26,990
Critical Vendors - Material Vendors	—		—		—		—		10,335	—		—		—		—		—		10,335	—	—		—		—
Recycling Entity Buyout (including interest)	—		—		—		—		1,078,017	—		—		—		—		—		1,078,017	—	—		—		—
TOTAL DISBURSEMENTS	(167,540	)	—		(167,540	)	5,601		18,363,007	—		(320,165	)	(90	)	95,622		5,610,724		23,754,699	526,407	277		1,613,903		2,140,587

Net Bank Account Transfers	(9,499,908	)	(92	)	(9,500,000	)	(144,631	)	18,718,737	(12,065,083	)	(3,482,937	)	(1,122,426	)	80,516		7,193,722		9,177,898	1,247,972	(3,055,534	)	1,807,561		—
DIP Facility Drawdown	5,000,000		—		5,000,000		—		—	—		—		—		—		—		—	—	—		—		—

ENDING BOOK BALANCE	5,578,223		—		5,578,223		—		3,034,727	—		—		—		(26,486	)	(421,928	)	2,586,311	5,991,580	—		(62,982	)	5,928,597

DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN
TOTAL DISBURSEMENTS					(167,540	)														23,754,699						2,140,587
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS					—															—						—
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES					—															—						—
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES					(167,540	)														23,754,699						2,140,587



In re: HORSEHEAD HOLDING CORP												MOR 1 continued	Case No. 16-10287, 288, 289, 290, 291
Debtor													Reporting Period: June 1 - June 30, 2016

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
Amounts reported should be per the debtor's books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the
first report, the amount should be the balance on the date the petition was filed. The amounts reported in the "CURRENT MONTH - ACTUAL" column must
equal the sum of the four bank account columns. The amounts reported in the "PROJECTED" columns should be taken from the SMALL BUSINESS INITIAL
REPORT (FORM IR-1) . Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal
must equal the total disbursements reported on this page. A bank reconciliation must be attached for each account. [See MOR-1 (CON'T)]

	16-10291 Zochem
	WFC - 4972	WFC- 4980		PNC -6944		PNC -6952		SB -5117	SB -0918		TOTAL	GRAND

BEGINNING BALANCE	733,906	—		124,234		—		625,004	1,169,946		2,653,090	21,550,866

CASH RECEIPTS
Trade Receipts	—	9,176,819		—		68,432		182,348	2,050,898		11,478,498	27,721,728
Other Receipts	—	—		—		—		965,646	—		965,646	967,619
TOTAL RECEIPTS	—	9,176,819		—		68,432		1,147,994	2,050,898		12,444,144	28,689,346

CASH DISBURSEMNTS
Payroll & Taxes	—	—		—		—		284,269	—		284,269	3,083,765
Benefits	—	—		—		—		43,081	—		43,081	1,058,360
Purchases	9,252,966	—		—		—		6,783	2,242,824		11,502,573	14,867,886
Freight	—	2,094		—		—		150,092	62,010		214,196	3,638,810
Utilities	—	—		—		—		452,293	—		452,293	1,340,937
Leases	—	—		—		—		884	—		884	6,283
Insurance	—	—		—		—		—	—		—	1,656,340
Miscellaneous	3,681	—		—		—		131,666	15,680		151,026	453,462
Contract Services	—	—		—		—		22,319	—		22,319	2,095,015
Supplies	—	—		—		—		238,456	200,147		438,603	1,945,039
Other Operating costs	—	—		—		—		30,380	6,300		36,680	192,162
DIP fees	—	—		—		—		—	—		—	687,500
Professional Fees	124,603	—		—		—		—	—		124,603	5,441,360
CapEx	—	—		—		—		—	—		—	545,721
Utility Deposits	—	—		—		—		—	—		—	3,661
Macquarie interest	—	—		—		—		—	—		—	217,446
503(b)(9) Payments	—	—		—		—		—	—		—	92,855
Critical Vendors - Freight	—	—		—		—		21,201	—		21,201	604,518
Critical Vendors - Material Vendors	—	—		—		—		—	—		—	10,335
Recycling Entity Buyout (including interest)	—	—		—		—		—	—		—	1,078,017
TOTAL DISBURSEMENTS	9,381,249	2,094		—		—		1,381,424	2,526,960		13,291,728	39,019,474

Net Bank Account Transfers	9,439,493	(9,174,725	)	(124,234	)	(68,432	)	400,000	(150,000	)	322,102	—
DIP Facility Drawdown	—	—		—		—		—	—		—	5,000,000

ENDING BOOK BALANCE	792,149	—		—		—		791,574	543,884		2,127,608	16,220,739

DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN
TOTAL DISBURSEMENTS											13,291,728	39,019,474
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS											—	—
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES											—	—
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES											13,291,728	39,019,474



In re: HORSEHEAD HOLDING CORP									MOR 1								Case No. 16-10287, 288, 289, 290, 291
Debtor									Case tp Date								Reporting Period: June 1 - June 30, 2016

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
Amounts reported should be per the debtor's books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the
first report, the amount should be the balance on the date the petition was filed. The amounts reported in the "CURRENT MONTH - ACTUAL" column must
equal the sum of the four bank account columns. The amounts reported in the "PROJECTED" columns should be taken from the SMALL BUSINESS INITIAL
REPORT (FORM IR-1) . Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal
must equal the total disbursements reported on this page. A bank reconciliation must be attached for each account. [See MOR-1 (CON'T)]

	FEBRUARY 2 - JUNE 30, 2016
	16-10287 HORSEHEAD HOLDINGS CORPORATION						16-10288 HORSEHEAD CORPORATION													16-10290 INMETCO
	WFC -2552		PNC -3765		TOTAL		PNC -3127	WFC -9756	WFC 6331		PNC -7517		PNC -7525		WFC -1949		WFC -1931		TOTAL	WFC -4964	WFC -5018		WFC -0254		TOTAL

BEGINNING BALANCE	536		77,440		77,976		—	36,008	—		13		1,323,180		—		—		1,359,201	—	—		—		—

CASH RECEIPTS
Trade Receipts	—		2,686,953		2,686,953		—	222,520	47,959,856		—		21,025,311		—		—		69,207,688	—	14,802,520		—		14,802,520
Other Receipts	15,776,559		630		15,777,189		—	278	—		—		—		—		—		278	—	150		—		150
TOTAL RECEIPTS	15,776,559		2,687,583		18,464,142		—	222,799	47,959,856		—		21,025,311		—		—		69,207,966	—	14,802,670		—		14,802,670

CASH DISBURSEMNTS
Payroll & Taxes	35,191		37,371		72,562		68,482	13,737,495	—		—		—		446,177		52,192		14,304,345	118,030	415		94,084		212,528
Benefits	2,472,421		—		2,472,421		25,594	2,161,526	—		—		(90	)	—		58,241		2,245,270	—	75		175,360		175,435
Purchases	8,081,202		889,099		8,970,301		892,071	5,269,283	—		—		—		—		1,317,471		7,478,825	167,638	85,722		773,017		1,026,376
Freight	6,494,005		35,691		6,529,695		1,693,638	4,124,716	—		—		—		—		4,075,090		9,893,444	95,276	18,800		192,020		306,096
Utilities	502,207		5,477		507,684		1,231,120	—	—		(322,102	)	—		—		1,744,150		2,653,168	1,341,422	—		362,330		1,703,752
Leases	39,869		—		39,869		599,817	41,543	—		—		—		—		—		641,360	—	—		782		782
Insurance	1,227,225		206,037		1,433,262		102,673	1,937,253	—		—		—		—		73,105		2,113,031	—	—		110,462		110,462
Miscellaneous	(129,300	)	4,000		(125,300	)	489,663	544,490	—		19,568		—		—		844,726		1,898,446	9,147	7,570		48,690		65,407
Contract Services	2,381,075		92,742		2,473,816		1,546,783	1,873,694	—		—		—		—		3,360,234		6,780,711	287,186	14,459		1,391,127		1,692,771
Supplies	925,153		50,936		976,089		1,097,177	347,068	—		—		—		—		2,342,458		3,786,704	24,684	204,040		1,131,590		1,360,314
Other Operating costs	44,684		46,059		90,743		170,410	343,872	—		—		790,065		—		30,968		1,335,315	—	—		352,560		352,560
DIP fees	1,101,861		—		1,101,861		—	1,363,472	—		—		—		—		6,200		1,369,672	—	—		—		—
Professional Fees	3,018,529		—		3,018,529		—	9,105,254	—		—		—		—		—		9,105,254	—	—		—		—
CapEx	220,129		—		220,129		—	963,554	—		—		—		—		—		963,554	514,521	92,566		978,627		1,585,713
Utility Deposits	(370,720	)	—		(370,720	)	212,142	3,661	—		781,500		—		—		—		997,303	—	—		5,780		5,780
Macquarie interest	418,028		—		418,028		—	449,141	—		—		—		—		—		449,141	—	—		—		—
503(b)(9) Payments	237,064		—		237,064		—	—	—		—		—		—		92,855		92,855	132,462	—		—		132,462
Critical Vendors - Freight	922,861		—		922,861		—	1,284,095	—		—		—		—		—		1,284,095	143,634	—		—		143,634
Critical Vendors - Material Vendors	—		—		—		—	113,244	—		—		—		—		—		113,244	—	—		—		—
Recycling Entity Buyout (including interest)	—		—		—		—	1,078,017	—		—		—		—		—		1,078,017	—	—		—		—
PNC Facility Repayment	—		—		—		—	—	—		—		—		—		—		—	—	—		—		—
TOTAL DISBURSEMENTS	27,621,484		1,367,411		28,988,895		8,129,570	44,741,378	—		478,966		789,974		446,177		13,997,689		68,583,754	2,833,999	423,646		5,616,427		8,874,073

Net Bank Account Transfers	(1,577,388	)	(1,397,612	)	(2,975,000	)	8,129,570	47,517,299	(47,959,857	)	478,952		(21,558,517	)	419,690		13,575,760		602,898	8,825,579	(14,379,024	)	5,553,445		—
DIP Facility Drawdown	19,000,000		—		19,000,000		—	—	—		—		—		—		—		—	—	—		—		—

ENDING BOOK BALANCE	5,578,223		—		5,578,223		—	3,034,728	—		—		—		(26,486	)	(421,928	)	2,586,311	5,991,580	—		(62,982	)	5,928,597

DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN
TOTAL DISBURSEMENTS					28,988,895														68,583,754						8,874,073
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS					—														—						—
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES					—														—						—
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES					28,988,895														68,583,754						8,874,073



In re: HORSEHEAD HOLDING CORP									MOR 1 continued				Case No. 16-10287, 288, 289, 290, 291
Debtor									Case-to-Date				Reporting Period: June 1 - June 30, 2016

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
Amounts reported should be per the debtor's books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the
first report, the amount should be the balance on the date the petition was filed. The amounts reported in the "CURRENT MONTH - ACTUAL" column must
equal the sum of the four bank account columns. The amounts reported in the "PROJECTED" columns should be taken from the SMALL BUSINESS INITIAL
REPORT (FORM IR-1) . Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal
must equal the total disbursements reported on this page. A bank reconciliation must be attached for each account. [See MOR-1 (CON'T)]

	FEBRUARY 2 - JUNE 30, 2016
	16-10291 Zochem
	WFC - 4972	WFC- 4980		PNC -6944		PNC -6952		SB -5117	SB -0918		TOTAL	GRAND

BEGINNING BALANCE	—	—		(434	)	652,850		298,010	238,283		1,188,709	2,625,886

CASH RECEIPTS
Trade Receipts	—	16,121,148		—		20,467,859		769,598	9,584,531		46,943,136	133,640,297
Other Receipts	—	—		18,677,793		—		4,683,489	—		23,361,282	39,138,900
TOTAL RECEIPTS	—	16,121,148		18,677,793		20,467,859		5,453,087	9,584,531		70,304,418	172,779,196

CASH DISBURSEMNTS
Payroll & Taxes	—	—		—		—		1,220,832	—		1,220,832	15,810,267
Benefits	—	—		—		—		376,120	—		376,120	5,269,246
Purchases	18,181,327	—		19,758,327		—		107,136	7,444,306		45,491,097	62,966,599
Freight	7,163	2,094		139,664		—		1,052,266	449,408		1,650,595	18,379,830
Utilities	—	—		—		—		1,117,450	84,049		1,201,499	6,066,103
Leases	—	—		—		—		2,652	—		2,652	684,663
Insurance	—	—		127,266		—		—	—		127,266	3,784,021
Miscellaneous	6,209	—		9,557		—		316,451	127,769		459,986	2,298,538
Contract Services	—	—		—		—		100,201	65		100,265	11,047,564
Supplies	—	—		—		—		677,966	591,885		1,269,851	7,392,958
Other Operating costs	—	—		—		—		372,095	185,515		557,609	2,336,228
DIP fees	—	—		—		—		—	—		—	2,471,533
Professional Fees	124,603	—		—		—		16,487	185,933		327,022	12,450,805
CapEx	—	—		—		—		—	—		—	2,769,396
Utility Deposits	—	—		—		—		—	—		—	632,363
Macquarie interest	—	—		—		—		—	—		—	867,169
503(b)(9) Payments	—	—		—		—		—	—		—	462,381
Critical Vendors - Freight	6,406	—		8,759		—		259,869	—		275,033	2,625,624
Critical Vendors - Material Vendors	—	—		—		—		—	—		—	113,244
Recycling Entity Buyout (including interest)	—	—		—		—		—	—		—	1,078,017
PNC Facility Repayment	—	—		18,677,793		—		—	—		18,677,793	18,677,793
TOTAL DISBURSEMENTS	18,325,707	2,094		38,721,366		—		5,619,523	9,068,930		71,737,621	178,184,342

Net Bank Account Transfers	19,117,857	(16,119,054	)	20,044,008		(21,120,709	)	660,000	(210,000	)	2,372,102	—
DIP Facility Drawdown	—	—		—		—		—	—		—	19,000,000

ENDING BOOK BALANCE	792,149	—		1		1		791,574	543,884		2,127,608	16,220,739

DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN
TOTAL DISBURSEMENTS											71,737,621	178,184,342
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS											—	—
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES											—	—
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES											71,737,621	178,184,342



In re: HORSEHEAD HOLDING CORP					MOR-1b		Case No. 16-10287, 288, 289, 290, 291
Debtor							Reporting Period: June 1 - June 30, 2016

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID
This schedule is to include all retained professional payments from case inception to current month

Payee	Period Covered	Amount Approved			Check		Amount Paid				Year-To-Date
Payee	Period Covered	Amount Approved		Payor	#	Date	Fees		Expenses		Fees		Expenses

RAS Management Advisors, LLC	WE 2/06/16	$	56,554	HHC	WT	3/16/16	$	52,950.00	$	3,604.00
	WE 2/13/16	$	69,685	HHC	WT	3/16/16	$	63,000.00	$	6,865.00
	WE 2/20/16	$	72,085	HHC	WT	3/16/16	$	65,125.00	$	6,960.00
	WE 2/27/16	$	72,281	HHC	WT	3/16/16	$	66,775.00	$	5,506.00
	WE 3/05/16	$	74,313	HHC	WT	3/16/16	$	67,450.00	$	6,863.00
	WE 3/12/16	$	61,610	HHC	WT	3/16/16	$	58,075.00	$	3,535.00	$	373,375.00	$	33,333.00
	WE 3/19/16	$	78,345	HHC	WT	3/22/16	$	71,475.00	$	6,870.00	$	444,850.00	$	40,203.00
	WE 3/26/16	$	63,461	HHC	WT	4/4/16	$	60,175.00	$	3,286.00	$	505,025.00	$	43,489.00
	WE 4/2/16	$	66,924	HHC	WT	4/8/16	$	61,700.00	$	5,224.00	$	566,725.00	$	48,713.00
	WE 4/9/16	$	58,651	HHC	WT	4/13/16	$	55,250.00	$	3,401.00	$	621,975.00	$	52,114.00
	WE 4/16/16	$	64,189	HHC	WT	4/21/16	$	60,325.00	$	3,864.00	$	682,300.00	$	55,978.00
	WE 4/23/16	$	53,260	HHC	WT	4/28/16	$	51,425.00	$	1,835.00	$	733,725.00	$	57,813.00
	WE 4/30/16	$	63,601	HHC	WT	5/5/16	$	60,125.00	$	3,476.00	$	793,850.00	$	61,289.00
	WE 5/7/16	$	63,857	HHC	WT	5/12/16	$	60,150.00	$	3,707.00	$	854,000.00	$	64,996.00
	WE 5/14/16	$	53,547	HHC	WT	5/19/16	$	51,975.00	$	1,572.00	$	905,975.00	$	66,568.00
	WE 5/21/16	$	62,196	HHC	WT	5/26/16	$	58,575.00	$	3,621.00	$	964,550.00	$	70,189.00
	WE 5/28/16	$	57,916	HHC	WT	6/2/16	$	55,850.00	$	2,066.00	$	1,020,400.00	$	72,255.00
	WE 6/4/16	$	55,511	HHC	WT	6/9/16	$	51,300.00	$	4,211.00	$	1,071,700.00	$	76,466.00
	WE 6/11/16	$	60,589	HHC	WT	6/16/16	$	58,600.00	$	1,989.00	$	1,130,300.00	$	78,455.00
	WE 6/18/16	$	61,511	HHC	WT	6/23/16	$	57,275.00	$	4,236.00	$	1,187,575.00	$	82,691.00
	WE 6/25/16	$	53,595	HHC	WT	6/29/16	$	49,825.00	$	3,770.00	$	1,237,400.00	$	86,461.00

Epiq Bankruptcy Solutions	Month of February	$	95,985.25	HHC	WT	5/18/16	$	95,458.4	$	526.85
	Month of March	$	133,455.55	HHC	WT	5/18/16	$	132,930.07	$	525.48	$	228,388.47	$	1,052.33

Kirkland & Ellis LLC	Month of February	$	1,191,560.66	HHC	WT	5/13/16	$	1,164,569.88	$26,990.78		$	1,164,569.88	$	26,990.78
	Month of March	$	909,229	HHC	WT	6/8/16	$	872,456.36	$36,772.64		$	2,037,026.24	$	63,763.42
	Month of April	$	975,493.56	HHC	WT	6/27/16	$	957,416.52	$18,077.04		$	2,994,442.76	$	81,840.46

Lazard Middle Market LLC	Month of February	$	1,086,657.73	HHC	WT	5/13/16	$	1,080,000.00	$6,657.73		$	1,080,000.00	$	6,657.73
	Month of March	$	104,485.36	HHC	WT	6/10/16	$	100,000	$4,485.36		$	1,180,000.00	$	11,143.09

Pachulski, Stang, Ziehl & Jones	Month of February	$	153,563.30	HHC	WT	6/14/16	$	134,558.40	$19,004.90		$	134,558.40	$	19,004.90

Klehr Harrison	Month of Feb/March	$	31,379.20	ZO	WT	6/29/16	$	31,332.20	$47.00
	Month of April	$	4,362.20	ZO	WT	6/29/16	$	4,264.40	$97.80		$	35,596.60	$	144.80

				ZO = Zochem, Inc.
				HHC = Horsehead Holding Corp.



In re. HORSEHEAD HOLDING CORP.							MOR - 2						Case No. 16-10287, 288, 289, 290, 291
Debtor				MTH									Reporting Period: June 1 - June 30, 2016

Horsehead Holding Corp. and Subsidiaries
CONSOLIDATING STATEMENTS OF OPERATIONS
DEBTOR IN POSSESSION
For the month ended June 30, 2016 (UNAUDITED)
(Amounts in thousands, except per share amounts)

	Horsehead
	Holding			Horsehead
	Corp.			Corporation			HMP			INMETCO			Zochem			Eliminations			Consolidated

Net sales of zinc material and other goods	$	—		$	10,501		$	1,016		$	—		$	10,419		$	—		$	21,936
Net sales of nickel based material and other services	—			—			—			3,293			—			—			3,293
EAF dust service fees	—			3,316			—			—			—			(74		)	3,242
Net sales	—			13,817			1,016			3,293			10,419			(74		)	28,471
Cost of sales of zinc material and other goods	—			9,241			2,647			—			9,753			—			21,641
Cost of sales of nickel based material and other services	—			—			—			2,463			—			(74		)	2,389
Cost of EAF dust services	—			2,405			—			—			—			—			2,405
Fire related costs	—			—			—			52			—			—			52
Insurance claim income	—			—			—			—			—			—			—
Cost of sales (excluding depreciation and amortization)	—			11,646			2,647			2,515			9,753			(74		)	26,487
Depreciation and amortization	—			1,226			424			251			199			—			2,100
Selling, general and administrative expenses	33			1,149			29			215			151			—			1,577
Total costs and expenses	33			14,021			3,100			2,981			10,103			(74		)	30,164
Income from operations	(33		)	(204		)	(2,084		)	312			316			—			(1,693		)
Equity in income of subsidiary, net of taxes	(3,035		)	—			—			—			—			3,035			—
Other income ( expense)
Interest expense	(1,944		)	(862		)	(37		)	(38		)	(255		)	143			(2,993		)
Interest and other income	143			3			—			—			—			(143		)	3
Other income (expense)	—			2			—			(1		)	(33		)	—			(32		)
Total other income (expense)	(1,801		)	(857		)	(37		)	(39		)	(288		)	—			(3,022		)
REORGANIZATION ITEMS, NET	(5,288		)	(37		)	—			—			(146		)	—			(5,471		)
Income before income taxes	(10,157		)	(1,098		)	(2,121		)	273			(118		)	3,035			(10,186		)
Income tax provision	—			—			—			—			(29		)	—			(29		)
NET INCOME(LOSS)	$	(10,157	)	$	(1,098	)	$	(2,121	)	$	273		$	(89	)	$	3,035		$	(10,157	)


NOTE: THE MARCH 31 AND JUNE 30, 2016 BALANCES MAY BE ADJUSTED UPON COMPLETION OF THE 2016 1ST AND 2ND QUARTER REVIEWS AND MAY AFFECT THESE RESULTS
NOTE: HORSEHEAD CORP. INCLUDES NON-DEBTOR BALANCES (CHR & HZR)



In re. HORSEHEAD HOLDING CORP.				MOR - 2									Case No. 16-10287, 288, 289, 290, 291
Debtor	Case to Date												Reporting Period: June 1 - June 30, 2016

Horsehead Holding Corp. and Subsidiaries
CONSOLIDATING STATEMENTS OF OPERATIONS
DEBTOR IN POSSESSION
For the period February 2 to June 30, 2016 (UNAUDITED)
(Amounts in thousands, except per share amounts)

	Horsehead
	Holding			Horsehead
	Corp.			Corporation			HMP			INMETCO			Zochem			Eliminations			Consolidated

Net sales of zinc material and other goods	$	—		$	46,747		$	7,343		$	—		$	50,370		$	—		$	104,460
Net sales of nickel based material and other services	—			—			—			13,745			—			—			13,745
EAF dust service fees	—			16,651			—			—			—			(420		)	16,231
Net sales	—			63,398			7,343			13,745			50,370			(420		)	134,436
Cost of sales of zinc material and other goods	—			44,416			17,962			—			46,847			—			109,225
Cost of sales of nickel based material and other services	—			—			—			11,906			—			(420		)	11,486
Cost of EAF dust services	—			12,010			—			—			—			—			12,010
Fire related costs	—			—			—			946			—			—			946
Insurance claim income	—			—			—			(1,000		)	—			—			(1,000		)
Cost of sales (excluding depreciation and amortization)	—			56,426			17,962			11,852			46,847			(420		)	132,667
Depreciation and amortization	—			5,982			2,122			1,258			947			—			10,309
Selling, general and administrative expenses	326			5,868			203			915			764			—			8,076
Total costs and expenses	326			68,276			20,287			14,025			48,558			(420		)	151,052
Income from operations	(326		)	(4,878		)	(12,944		)	(280		)	1,812			—			(16,616		)
Equity in income of subsidiary, net of taxes	(29,757		)	—			—			—			—			29,757			—
Other income ( expense)
Interest expense	(8,380		)	(5,272		)	(37		)	(188		)	(1,291		)	505			(14,663		)
Interest and other income	504			7			—			—			—			(505		)	6
Other income (expense)	—			13			—			123			(174		)	—			(38		)
Total other income (expense)	(7,876		)	(5,252		)	(37		)	(65		)	(1,465		)	—			(14,695		)
REORGANIZATION ITEMS, NET	(26,065		)	(4,915		)	—			—			(2,160		)	—			(33,140		)
Income before income taxes	(64,024		)	(15,045		)	(12,981		)	(345		)	(1,813		)	29,757			(64,451		)
Income tax provision	—			—			—			—			(427		)	—			(427		)
NET INCOME(LOSS)	$	(64,024	)	$	(15,045	)	$	(12,981	)	$	(345	)	$	(1,386	)	$	29,757		$	(64,024	)


NOTE: THE MARCH 31 AND JUNE 30, 2016 BALANCES MAY BE ADJUSTED UPON COMPLETION OF THE 2016 1ST AND 2ND QUARTER REVIEWS AND MAY AFFECT THESE RESULTS
NOTE: HORSEHEAD CORP. INCLUDES NON-DEBTOR BALANCES (CHR & HZR)



In re. HORSEHEAD HOLDING CORP							MOR -2						Case No. 16-10287, 288, 289, 290, 291
Debtor							CONT						Reporting Period: June 1 - June 30, 2016

INCOME (EXPENSE)
REORGANIZATION CHARGES

	FEBRUARY			MARCH			APRIL			MAY			JUNE			TOTAL
HHC
Professional Fee	$	(2,544	)	$	(7,782	)	$	(4,248	)	$	(4,933	)	$	(5,288	)	$	(24,795	)	SG&A
Interest Expense	(1,270		)	—												(1,270		)	Int Exp

	(3,814		)	(7,782		)	(4,248		)	(4,933		)	(5,288		)	(26,065		)

HORSEHEAD
Hedges	49			—			—			—			—			49			Sales
Interest Exp	(4,839		)	—			—			(88		)	(37		)	(4,964		)	Int Exp

	(4,790		)	—			—			(88		)	(37		)	(4,915		)

HMP
Other Income	—			—			—			—			—			—			Oth Inc


INMETCO
Hedges	—			—			—			—			—			—			COS


ZOCHEM
Hedges	(49		)	—			—			—			—			(49		)	Sales
Profess Fee/Other	(360		)	(511		)	(693		)	(256		)	(146		)	(1,966		)	SG&A
Interest Exp	(145		)	—			—			—			—			(145		)	Int Exp

	(554		)	(511		)	(693		)	(256		)	(146		)	(2,160		)

TOTAL	$	(9,158	)	$	(8,293	)	$	(4,941	)	$	(5,277	)	$	(5,471	)	$	(33,140	)



In re. HORSEHEAD HOLDING CORP.	MOR-3								Case no: 16-10287, 288, 289, 290, 291
Debtor									Reporting Period: June 1 - June 30, 2016
Horsehead Holding Corp. and Subsidiaries
CONSOLIDATING BALANCE SHEETS
DEBTOR IN POSSESSION
June 30, 2016 (UNAUDITED)
(Amounts in thousands, except per share amounts)
	Horsehead			Horsehead
ASSETS	Holding Corp.			Corporation		HMP			Zochem			INMETCO		Eliminations			Consolidated
Current assets
Cash and cash equivalents	$	5,578		$	3,007	$	—		$	2,334		$	5,927	$	—		$	16,846
Accounts receivable, net of allowance	365			12,055		2,952			20,030			6,000		(553		)	40,849
Inventories, net	—			5,852		5,156			10,071			4,842		—			25,921
Prepaid expenses and other current assets	1,655			11,453		—			2,792			519		(6,972		)	9,447
Deferred income taxes	—			—		—			—			—		—			—

Total current assets	7,598			32,367		8,108			35,227			17,288		(7,525		)	93,063

Property, plant and equipment, net	—			107,888		87,053			24,036			32,901		—			251,878

Other assets
Intangible assets	—			7,509		—			83			1,490		—			9,082
Restricted cash	—			7,939		—			—			—		—			7,939
Deferred income taxes	—			—		—			—			—		—			—
Investment in and advances to subsidiary	125,767			68,141		(741,085		)	12,379			1,222		533,576			—
Deposits and other	—			146		403			875			520		—			1,944

Total other assets	125,767			83,735		(740,682		)	13,337			3,232		533,576			18,965
Total assets	$	133,365		$	223,990	$	(645,521	)	$	72,600		$	53,421	$	526,051		$	363,906

	Horsehead			Horsehead
LIABILITIES AND STOCKHOLDERS' EQUITY	Holding Corp.			Corporation		HMP			Zochem			INMETCO		Eliminations			Consolidated

Current liabilities
Current maturities of long-term debt	$	—		$	—	$	—		$	—		$	—	$	—		$	—
DEBTOR IN POSSESSION FINANCING	—			38,822		—			18,678			—		—			57,500
Accounts payable	9,522			10,528		724			2,396			1,949		(365		)	24,754
Accrued expenses	8,964			11,999		252			782			3,105		(188		)	24,914
Income Taxes Payable	—			4,237		—			(1,093		)	595		(6,973		)	(3,234		)
Total current liabilities	18,486			65,586		976			20,763			5,649		(7,526		)	103,934

LIABILITIES SUBJECT TO COMPROMISE - SECURED DEBT	208,588			49,625		5,000			—			—		—			263,213
LIABILITIES SUBJECT TO COMPROMISE - PRIORITY DEBT	—			1,931		167			—			—		—			2,098
LIABILITIES SUBJECT TO COMPROMISE - UNSECURED DEBT (AP & AL)	142,946			27,976		29,057			7,406			5,064		—			212,449

Long-term debt, less current maturities	—			—		—			—			10,000		(10,000		)	—
Other long-term liabilities	—			13,386		—			26			1,876		—			15,288
Deferred income taxes	—			—		—			3,112			—		—			3,112
Commitments and contingencies
Stockholders' equity
Horsehead Holding Corp. stockholders' equity:
Common stock, par value $.01 per share; 100,000 shares
with voting rights authorized;	602			—		—			—			—		—			602
Preferred stock, par value $.01 per share; 10,000 shares
authorized; no shares issued or outstanding	—			—		—			—			—		—			—
Additional paid-in capital	398,310			16,241		—			—			29,081		(45,322		)	398,310
Retained earnings	(635,567		)	49,245		(680,721		)	41,293			1,751		588,899			(635,100		)
Total stockholders' equity before noncontrolling interest	(236,655		)	65,486		(680,721		)	41,293			30,832		543,577			(236,188		)
Noncontrolling interest	—			—		—			—			—		—			—
Total stockholders' equity	(236,655		)	65,486		(680,721		)	41,293			30,832		543,577			(236,188		)
Total liabilities and stockholders' equity	$	133,365		$	223,990	$	(645,521	)	$	72,600		$	53,421	$	526,051		$	363,906
NOTE: THE JUNE 30, 2016 BALANCES WILL BE ADJUSTED UPON COMPLETION OF THE 2016 1ST AND 2ND QTR REVIEWS AND MAY AFFECT THESE RESULTS
NOTE: HORSEHEAD CORP. INCLUDES NON-DEBTOR BALANCES (CHR & HZR)



In re: HORSEHEAD HOLDING CORP		MOR-4		Case No. 16-10287, 288, 289, 290, 291
	Debtor			Reporting Period: June 1 - June 30, 2016

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.
	Beginning	Amount				Ending
	Tax	Withheld or	Amount	Date	Check No.	Tax
Federal	Liability	Accrued	Paid	Paid	or EFT	Liability
Withholding	12,113	348,607	347,506	Various dates	EFT (payroll provider)	13,214
FICA-Employee	—	181,875	181,875	Various dates	EFT (payroll provider)	—
FICA-Employer	76,698	183,636	181,239	Various dates	EFT (payroll provider)	79,095
Unemployment	1,224	5,161	5,127	Various dates	EFT (payroll provider)	1,258
Income	—	—	—			—
Other:_________________	—	—	—			—
Total Federal Taxes	90,035	719,279	715,747			93,567
State and Local
Withholding	—	91,542	91,542	Various dates	EFT (payroll provider)	—
Sales	27,124	—	8,152	Various dates	various	18,972
Excise	—	—	—			—
Unemployment	14,416	12,926	12,484	Various dates	EFT (payroll provider)	14,858
Real Property	560,973	291,829	—			852,802
Personal Property	—	—	—			—
Other:_________________	—	—	—			—
Total State and Local	602,513	396,297	112,178			886,632
Total Taxes	692,548	1,115,576	827,925	—		980,199

SUMMARY OF UNPAID POSTPETITION DEBTS
Attach aged listing of accounts payable.
		Number of Days Past Due
	Current	0-30	31-60	61-90	Over 90	Total
Accounts Payable	14,533,000	—	—	—	—	14,533,000
Wages Payable	3,811,000	—	—	—	—	3,811,000
Taxes Payable	980,199	—	—	—	—	980,199
Rent/Leases-Building	—	—	—	—	—	—
Rent/Leases-Equipment	—	—	—	—	—	—
Secured Debt/Adequate Protection Payments	—	—	—	—	—	—
Professional Fees	10,221,000	—	—	—	—	10,221,000
Amounts Due to Insiders*	—	—	—	—	—	—
Other:________________						—
Other:________________						—
Total Postpetition Debts	29,545,199	—	—	—	—	29,545,199

Explain how and when the Debtor intends to pay any past-due postpetition debts.
Post petition debts will be paid with operating cash flow and or post petition financing.



	MOR-5

In re: HORSEHEAD HOLDING CORP			Case No. 16-10287, 288, 289, 290, 291
Debtor			Reporting Period: June 1 - June 30, 2016


ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

Accounts Receivable Reconciliation	HH Corp		HMP		Inmetco		Zochem
Total Accounts Receivable at the beginning of the reporting period	10,259,947		2,033,163		5,002,419		19,394,959
+ Amounts billed during the period	14,451,210		1,016,138		2,712,921		10,557,010
- Amounts collected during the period	(11,819,537	)	(1,367,882	)	(3,055,811	)	(11,478,498	)
Total Accounts Receivable at the end of the reporting period	12,891,620		1,681,419		4,659,529		18,473,471

Accounts Receivable Aging
0 - 30 days old	10,468,812		1,621,647		3,795,409		18,575,526
31 - 60 days old	905,868		3,933		626,832		13,852
61 - 90 days old	1,169,310		—		127,749		9,695
91+ days old	347,631		55,839		109,539		(125,602	)
Total Accounts Receivable	12,891,620		1,681,419		4,659,529		18,473,471
Amount considered uncollectible (Bad Debt)	(165,813	)	—		(70,974	)	(20,000	)
Accounts Receivable (Net)	12,725,807		1,681,419		4,588,555		18,453,471

DEBTOR QUESTIONNAIRE

Must be completed each month	Yes		No
1. Have any assets been sold or transferred outside the normal course of business this reporting period?			x
If yes, provide an explanation below.
2. Have any funds been disbursed from any account other than a debtor in possession account this reporting period?			x
If yes, provide an explanation below.
3. Have all post petition 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?	x
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).			x
If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.

HORSEHEAD LETTERHEAD

July 20, 2016

Office of the United States Trustee

944 King Street, Suite 2207, Lockbox 35

Wilmington, DE 19801

Attn: Timothy J. Fox

Subject: Declaration Regarding Bank Account Reconciliations

Horsehead Holding Corp. and certain of its affiliates (the "Debtors"), hereby submit this declaration regarding providing bank statements in lieu of providing bank account reconciliations.

The Debtors have performed all bank account reconciliations in the ordinary course of business. Copies of bank account statements and reconciliations are available for inspection upon request by the United States Trustee's Office.

Pursuant to 28 U.S.C. 1746. I declare under penalty of perjury that the foregoing is true and correct to the best of my knowledge and belief.

/s/ Timothy Boates

Name: Timothy Boates

Position: Chief Restructuring Officer

Information provided in accordance with Section 5.06 of the $90,000,000 Senior Secured Superpriority Debtor-in-Possession Credit, Security and Guaranty Agreement, Dates as of February 8, 2016 by and among the Debtors and the Lenders thereto.



FINANCIAL INFORMATION REPORT
	Horsehead Holding Corp. and Subsidiaries
CONSOLIDATING BALANCE SHEETS
June 30, 2016 (UNAUDITED)
				Horsehead
ASSETS	HHC			Corporation			Zochem			INMETCO		Eliminations			Consolidated
Current assets
Cash and cash equivalents	$	5,578		$	3,007		$	2,334		$	5,927	$	—		$	16,846
Accounts receivable, net of allowance	365			15,007			20,030			6,000		(553		)	40,849
Inventories, net	—			11,008			10,071			4,842		—			25,921
Prepaid expenses and other current assets	1,655			11,453			2,792			519		(6,972		)	9,447
Deferred income taxes	—			—			—			—		—			—

Total current assets	7,598			40,475			35,227			17,288		(7,525		)	93,063
Property, plant and equip, net	—			194,941			24,036			32,901		—			251,878
Other assets
Intangible assets	—			7,509			83			1,490		—			9,082
Restricted cash	—			7,939			—			—		—			7,939
Investment in and advances to subs	125,767			(672,944		)	12,379			1,222		533,576			—
Deposits and other	—			549			875			520		—			1,944

Total other assets	125,767			(656,947		)	13,337			3,232		533,576			18,965
Total assets	$	133,365		$	(421,531	)	$	72,600		$	53,421	$	526,051		$	363,906

LIABILITIES AND				Horsehead
STOCKHOLDERS' EQUITY	HHC			Corporation			Zochem			INMETCO		Eliminations			Consolidated

Current liabilities
Current maturities of long-term debt	$	205,000		$	26,888		$	—		$	—	$	—		$	231,888
DEBTOR IN POSSESSION FINANCING	—			38,822			18,678			—		—			57,500
Accounts payable	9,522			11,252			2,396			1,949		(365		)	24,754
Accrued expenses	12,552			19,697			782			3,105		(188		)	35,948
Income taxes payable	—			4,237			(1,093		)	595		(6,973		)	(3,234		)
Total current liabilities	227,074			100,896			20,763			5,649		(7,526		)	346,856
LIABILITIES SUBJECT TO COMPROMISE	142,946			79,422			7,406			5,064		—			234,838
Long-term debt, less current	—			—			—			10,000		(10,000		)	—
Other long-term liabilities	—			13,386			26			1,876		—			15,288
Deferred income taxes	—			—			3,112			—		—			3,112
Commitments and contingencies
Stockholders' equity
Common Stock	602			—			—			—		—			602
Additional paid-in capital	398,310			16,241			—			29,081		(45,322		)	398,310
Retained earnings	(635,567		)	(631,476		)	41,293			1,751		588,899			(635,100		)

Total stockholders' equity before noncontroll int	(236,655		)	(615,235		)	41,293			30,832		543,577			(236,188		)
Noncontrolling interest	—			—			—			—		—			—
Total stockholders' equity	(236,655		)	(615,235		)	41,293			30,832		543,577			(236,188		)
Total liabilities and SE	$	133,365		$	(421,531	)	$	72,600		$	53,421	$	526,051		$	363,906

NOTE: THE JUNE 30, 2016 BALANCES MAY BE ADJUSTED UPON COMPLETION OF THE 2016 1ST AND 2ND QTR REVIEWS AND MAY AFFECT THESE BALANCES



Horsehead Holding Corp. and Subsidiaries

CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except per share amounts)
	UNAUDITED			UNAUDITED			UNAUDITED			UNAUDITED
	Month Ended			Month ended			YTD ended			YTD ended
	June 30			June 30			June 30			June 30
	2016			2015			2016			2015

Net sales of zinc material and other goods	$	21,936		$	43,367		$	125,805		$	181,907
Net sales of nickel based material and other services	3,293			4,984			16,587			24,531
EAF dust service fees	3,242			3,101			19,397			18,504

Net sales	28,471			51,452			161,789			224,942

Cost of sales of zinc material and other goods	21,641			35,123			138,886			183,194
Cost of sales of nickel based material and other services	2,389			2,966			13,418			16,242
Cost of EAF dust services	2,405			2,577			14,194			14,847
Fire related costs	52			—			985			—
Insurance claim income	—			—			(1,000		)	—


Cost of sales (excluding deprec and amortiz)	26,487			40,666			166,483			214,283
Depreciation and amortization	2,100			6,258			12,353			26,990
Selling, general and administrative expenses	1,577			2,173			9,992			13,574
Total costs and expenses	30,164			49,097			188,828			254,847

Loss from operations	(1,693		)	2,355			(27,039		)	(29,905		)

Other income (expense)
Interest expense	(2,993		)	(3,036		)	(18,181		)	(18,228		)
Interest and other income	3			—			6			20
Other income (expense)	(32		)	14,081			2,935			12,565

Total other income (expense)	(3,022		)	11,045			(15,240		)	(5,643		)

REORGANIZATION ITEMS, NET	(5,471		)	—			(43,781		)	—

Loss before income taxes	(10,186		)	13,400			(86,060		)	(35,548		)
Income tax benefit	(29		)	6,675			(722		)	(13,435		)

NET LOSS	$	(10,157	)	$	6,725		$	(85,338	)	$	(22,113	)

NOTE: THE MARCH 31 AND JUNE 30, 2016 BALANCES MAY BE ADJUSTED UPON COMPLETION OF THE 2016 1ST AND 2ND QTR REVIEWS AND MAY AFFECT THESE RESULTS



Horsehead Holding Corp. and Subsidiaries
CONSOLIDATING STATEMENTS OF OPERATIONS
For the month ended June 30, 2016 (UNAUDITED)
(Amounts in thousands, except per share amounts)

	Horsehead
	Holding			Horsehead
	Corp.			Corporation			INMETCO			Zochem			Elims			Consolidated

Net sales of zinc material and other goods	$	—		$	11,517		$	—		$	10,419		$	—		$	21,936
Net sales of nickel based material and other services	—			—			3,293			—			—			3,293
EAF dust service fees	—			3,316			—			—			(74		)	3,242

Net sales	—			14,833			3,293			10,419			(74		)	28,471

Cost of sales of zinc material and other goods	—			11,888			—			9,753			—			21,641
Cost of sales of nickel based material and other services	—			—			2,463			—			(74		)	2,389
Cost of EAF dust services	—			2,405			—			—			—			2,405
Fire related costs	—			—			52			—			—			52
Insurance claim income	—			—			—			—			—			—


Cost of sales (excluding deprec and amortiz)	—			14,293			2,515			9,753			(74		)	26,487
Depreciation and amortization	—			1,650			251			199			—			2,100
Selling, general and administrative expenses	33			1,178			215			151			—			1,577
Total costs and expenses	33			17,121			2,981			10,103			(74		)	30,164

(Loss) income from operations	(33		)	(2,288		)	312			316			—			(1,693		)

Equity in (loss) income of subsidiary, net of taxes	(3,035		)	—			—			—			3,035			—

Other income (expense)
Interest expense	(1,944		)	(899		)	(38		)	(255		)	143			(2,993		)
Interest and other income	143			3			—			—			(143		)	3
Other income (expense)	—			2			(1		)	(33		)	—			(32		)

Total other income (expense)	(1,801		)	(894		)	(39		)	(288		)	—			(3,022		)

REORGANIZATION ITEMS, NET	(5,288		)	(37		)	—			(146		)	—			(5,471		)

(Loss) income before income taxes	(10,157		)	(3,219		)	273			(118		)	3,035			(10,186		)
Income tax (benefit) provision	—			—			—			(29		)	—			(29		)

NET (LOSS) INCOME	$	(10,157	)	$	(3,219	)	$	273		$	(89	)	$	3,035		$	(10,157	)

NOTE: THE MARCH 31 AND JUNE 30, 2016 BALANCES MAY BE ADJUSTED UPON COMPLETION OF THE 2016 1ST AND 2ND QTR REVIEWS AND MAY AFFECT THESE RESULTS



Horsehead Holding Corp. and Subsidiaries
CONSOLIDATING STATEMENTS OF OPERATIONS
For the six months ended June 30, 2016 (UNAUDITED)
(Amounts in thousands, except per share amounts)

	Horsehead
	Holding			Horsehead
	Corp.			Corporation			INMETCO			Zochem			Elims			Consolidated

Net sales of zinc material and other goods	$	—		$	65,747		$	—		$	59,956		$	102		$	125,805
Net sales of nickel based material and other services	—			—			16,587			—			—			16,587
EAF dust service fees	—			19,923			—			—			(526		)	19,397

Net sales	—			85,670			16,587			59,956			(424		)	161,789

Cost of sales of zinc material and other goods	—			82,992			—			55,792			102			138,886
Cost of sales of nickel based material and other services	—			—			13,944			—			(526		)	13,418
Cost of EAF dust services	—			14,194			—			—			—			14,194
Fire related costs	—			—			985			—			—			985
Insurance claim income	—			—			(1,000		)	—			—			(1,000		)


Cost of sales (excluding deprec and amortiz)	—			97,186			13,929			55,792			(424		)	166,483
Depreciation and amortization	—			9,710			1,509			1,134			—			12,353
Selling, general and administrative expenses	487			7,450			1,136			919			—			9,992
Total costs and expenses	487			114,346			16,574			57,845			(424		)	188,828

(Loss) income from operations	(487		)	(28,676		)	13			2,111			—			(27,039		)

Equity in (loss) income of subsidiary, net of taxes	(45,738		)	—			—			—			45,738			—

Other income (expense)
Interest expense	(11,385		)	(5,786		)	(224		)	(1,385		)	599			(18,181		)
Interest and other income	598			7			—			—			(599		)	6
Other income (expense)	—			3,010			115			(190		)	—			2,935

Total other income (expense)	(10,787		)	(2,769		)	(109		)	(1,575		)	—			(15,240		)

REORGANIZATION ITEMS, NET	(28,326		)	(12,049		)	64			(3,470		)	—			(43,781		)

(Loss) income before income taxes	(85,338		)	(43,494		)	(32		)	(2,934		)	45,738			(86,060		)
Income tax (benefit) provision	—			—			—			(722		)	—			(722		)

NET (LOSS) INCOME	$	(85,338	)	$	(43,494	)	$	(32	)	$	(2,212	)	$	45,738		$	(85,338	)

NOTE: THE MARCH 31 AND JUNE 30, 2016 BALANCES MAY BE ADJUSTED UPON COMPLETION OF THE 2016 1ST AND 2ND QTR REVIEWS AND MAY AFFECT THESE RESULTS



NON-FINANCIAL OPERATING METRICS REPORT
							Month ended
Shipments							June 30, 2016
Zinc finished product - tons (Z + HH combined)(excludes WOX/Calcine)							6,376
Finished Products Zinc-Contained tons (Z + HH combined) (excludes WOX/Calcine)							5,213
WOX/Calcine shipments combined - tons							15,835
Calcine shipments - tons							12,014
Calcine zinc-contained tons							7,612
Total Zinc-Contained tons (Finished Prod from Z + HH + calcine/WOX)							15,118
Zinc finished product - tons (HH) (excludes WOX/Calcine)							561
Total Zinc Product Zinc - Contained tons (HH) (includes WOX/Calcine)							10,466
EAF dust receipts - tons (HH)							45,328
Nickel remelt alloy shipments - tons (I)							2,581

Net sales realization
Zinc finished products - per lb (Z + HH combined)							$	0.92
Zinc finished products - per lb zinc-contained (Z + HH combined)							$	1.12
Zinc finished products premium - per lb zinc-contained (Z + HH combined)							$	0.20
Zinc Product Shipments - per lb zinc-contained (HH)							$	0.54
LME average zinc price - per lb							$	0.92
LME average nickel price - per lb							$	4.04

Production
Zinc metal production tons (Mooresboro)							—
Mooresboro conversion costs (per lb)							$	—
Recycling facility conversion costs (per lb)							$	0.47

Financial (in 000's)							UNAUDITED
Net Zinc metal sales excl. intercompany (HH) (excludes brokered)							$	—
Brokered metal sales							$	941
EAFD collection revenue							$	3,316
EAFD collection costs							$	2,405
Zochem adjusted EBITDA - R							$	513
INMETCO adjusted EBITDA - R							$	632

Segment data (3 segments + Corp, elim, other) (in 000's)
UNAUDITED									Corp, Elims
	Horsehead			Zochem			INMETCO		& Other			Consolidated
Revenue	$	14,833		$	10,419		$	3,293	$	(74	)	$	28,471
Depreciation & amortization	1,650			199			251		—			2,100
COGS	14,293			9,753			2,515		(74		)	26,487
SG&A	1,178			151			215		33			1,577
Interest expense	899			255			38		1,801			2,993
(Loss) income before income taxes	$	(3,219	)	$	(118	)	$	273	$	(7,122	)	$	(10,186	)

Revenue excl. unrealized non-cash hedge adj and interco. sales	$	14,759		$	10,418		$	3,293	$	—		$	28,470
Unrealized non-cash hedge adj (expense) income	$	—		$	1		$	—	$	—		$	1
Capital expenditures	$	879		$	109		$	151	$	—		$	1,139

COMPLIANCE CERTIFICATE

For the Period From February 2, 2016 to June 30, 2016 ("Test Period")

The undersigned hereby certifies that he/she is the Vice President & Chief Financial Officer of Horsehead Corporation, company organized under the laws of the State of Delaware (“Horsehead”), the Vice President & Chief Financial Officer of The International Metals Reclamation Company, LLC, a limited liability company organized under the laws of the State of Delaware (“INMETCO”), the Vice President & Chief Financial Officer of Horsehead Metal Products, LLC, a limited liability company organized under the laws of the State of North Carolina (“HMP”), the Vice President & Chief Financial Officer of Zochem Inc., a corporation incorporated pursuant to the Canada Business Corporations Act (“Zochem”) and the Vice President & Chief Financial Officer of Horsehead Holding Corp., a corporation organized under the laws of the State of Delaware (“Horsehead Holding” and, together with Horsehead INMETCO, HMP and Zochem, each a “Borrower” and, collectively, the “Borrowers”), and that as such he/she is authorized to execute this certificate on behalf of each Borrower. With reference to the Senior Secured Superpriority Debtor-in-Possession Credit, Security and Guaranty Agreement dated as of February 8, 2016 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) among the Borrowers, the guarantors party thereto from time to time Cantor Fitzgerald Securities, as Administrative Agent and the lenders party thereto from time to time, the Borrowers represent and warrants as follows (each capitalized term used herein having the same meaning given to it in the Credit Agreement unless otherwise specified):

The representations and warranties of the Borrowers contained in Article IV of the Credit Agreement and in the Loan Documents are true and correct in all material respects at and as of the time of delivery hereof as if made on and as of the date hereof, except to the extent such representations and warranties are expressly limited to an earlier date;

Other than with respect to (i) the failure to meet the milestone set forth in Section 5.18(f) of the Credit Agreement on account of an order of the Bankruptcy Court approving the Disclosure Statement having been entered on July 11, 2016 and not July 7, 2016 and (ii) the failure to list the Promissory Note, dated January 4, 2016, made by Horsehead in favor of Tecnicas Reunidas S.A in an original principal amount of $5,000,000, on Schedule 6.02(b) of the Credit Agreement, no Default or Event of Default has occurred that has not otherwise been waived.

Attached hereto as Schedule A is a detailed spreadsheet reflecting the calculations and computations necessary to determine whether INMETCO and Zochem are each in compliance with their respective Minimum EBITDA-R requirements, as reflected in this certificate;

There has been no change in the application of GAAP to the financial statements being delivered in connection with this Compliance Certificate since the Effective Date.

As of the last day of the Test Period the following statements, amounts, and calculations were true and correct:

Section 6.21(b)(i) - Minimum EBITDA-R for INMETCO.



(A) Adjusted EBITDA-R =	$	3,120,000
(i) + [(ii) + (iii) + (iv) + (v)+(vi)+(vii) + (viii)] Items (ii) - (iv) shall be included to the extent deducted from Consolidated Net Income. =
(i) Net Income	$	(345,000	)
(ii) Interest Expense	$	188,000
(iii) provision for income taxes	$	—
(iv) depreciation, amortization	$	1,258,000
(v) unrealized gains and losses on hedge transaction positions, non-cash compensation expenses, one-time charges to Net Income and all other non-cash charges	$	—
(vi) charges, fees, costs, commissions and expenses incurred during such period in connection with the Credit Agreement, the other Loan Documents, the Chapter 11 Cases, any reorganization plan in connection with the Chapter 11 Cases, any exit credit agreements, and any and all transactions contemplated by the foregoing, including the write-off of any receivables, the termination or settlement of executory contracts, professional and accounting costs, fees and expenses, operational restructuring costs, fees and expenses, management incentive, employee retention or similar plans (in each case to the extent such plan is approved by the Bankruptcy Court to the extent required), litigation costs and settlements, asset write-downs, income and gains recorded in connection with the corporate reorganization of such Person and its Subsidiaries ONE TIME FIRE CHARGES RELATING TO INSURANCE CLAIM	$	(54,000	)
(vii) the charges, fees, costs and expenses in connection with, and a pro forma adjustment for actual lost revenues resulting from, a single furnace shutdown during the life of the Facility; provided that, the aggregate amount added pursuant to this clause (vii) shall not exceed $2,000,000 during the life of the Facility	$	1,983,000
(viii) any intercompany charges incurred by Horsehead for administrative services provided to Horsehead Holding and its Subsidiaries	$	90,000

For the applicable EBITDA- TEST PERIOD, has the minimum required EBITDA-R of INMETCO been met? X YES NO

Section 6.21(b)(ii) - Minimum EBITDA-R for ZOCHEM



(A) Adjusted EBITDA-R =	$	2,723,000
(i) + [(ii) + (iii) + (iv) + (v)+(vi)+(vii) + (viii)] Items (ii) - (iv) shall be included to the extent deducted from Consolidated Net Income.
(i) Net Income	$	(1,386,000	)
(ii) Interest Expense	$	1,291,000
(iii) provision for income taxes	$	(427,000	)
(iv) depreciation, amortization	$	947,000
(v) unrealized gains and losses on hedge transaction positions, non-cash compensation expenses, one-time charges to Net Income and all other non-cash charges	$	(12,000	)
(vi) charges, fees, costs, commissions and expenses incurred during such period in connection with the Credit Agreement, the other Loan Documents, the Chapter 11 Cases, any reorganization plan in connection with the Chapter 11 Cases, any exit credit agreements, and any and all transactions contemplated by the foregoing, including the write-off of any receivables, the termination or settlement of executory contracts, professional and accounting costs, fees and expenses, operational restructuring costs, fees and expenses, management incentive, employee retention or similar plans (in each case to the extent such plan is approved by the Bankruptcy Court to the extent required), litigation costs and settlements, asset write-downs, income and gains recorded in connection with the corporate reorganization of such Person and its Subsidiaries	$	2,160,000
(vii) any intercompany charges incurred by Horsehead for administrative services provided to Horsehead Holding and its Subsidiaries	$	150,000
(viii) any costs or expenses incurred in connection with the funding of the Canadian Pension Plans	$	—

For the applicable EBITDA- TEST PERIOD, has the minimum required EBITDA-R of ZOCHEM been met? X YES NO

[Signature Page Follows.]

IN WITNESS THEREOF, I have hereto signed my name to this Compliance Certificate, in my capacity as a Responsible Officer of the Borrowers and not individually, as of July 15, 2016.

HORSEHEAD CORPORATION

By: /s/ Robert D. Scherich

Name: Robert D. Scherich