============================================================================
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549-1004
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) February 7, 2008
----------------
REUNION INDUSTRIES, INC.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
DELAWARE 01-15739 06-1439715
----------------------------------------------------------------------------
(State of Incorporation) (Commission File No.) (IRS Employer ID No.)
11 STANWIX STREET, SUITE 1400
PITTSBURGH, PENNSYLVANIA 15222
------------------------------------------------------------
(Address of principal executive offices, including zip code)
(412) 281-2111
----------------------------------------------------
(Registrant's telephone number, including area code)
NOT APPLICABLE
-------------------------------------------------------------
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
==========================================================================
Item 8.01 ? Other Events
As previously reported, on November 26, 2007 Reunion Industries, Inc.
("Reunion") filed a voluntary petition for relief under Chapter 11 of the
Bankruptcy Code in the United States Bankruptcy Court for the District of
Connecticut, Bridgeport Division (the "Bankruptcy Court"). Reunion continues
to operate as "debtor-in-possession" in that proceeding under the jurisdiction
of the Bankruptcy Court and in accordance with the applicable provisions of
the Bankruptcy Code. Attached to and made a part of this Report is Reunion's
Monthly Operating Report that was filed on January 23, 2008 with the
Bankruptcy Court and United States Trustee pursuant to Rule 2015 of the
Federal Rules of Bankruptcy Procedure.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Current Report on Form 8-K to be signed on its
behalf by the undersigned, hereunto duly authorized.
Date: February 7, 2008 REUNION INDUSTRIES, INC.
---------------- (Registrant)
By: /s/ John M. Froehlich
---------------------
John M. Froehlich
Executive Vice President
of Finance and Chief
Financial Officer
- 2 ?
CASE NAME: REUNION INDUSTRIES, INC.
CASE NUMBER: 07-50727 ACCRUAL BASIS
JUDGE: A.H.W.SHIFF
UNITED STATES BANKRUPTCY COURT
DISTRICT OF CONNECTICUT
BRIDGEPORT DIVISION
MONTHLY OPERATING REPORT
MONTH ENDING: DEC , 2007
-------- ------
MONTH YEAR
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I
DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING
MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND
THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE
DOCUMENTS ARE TRUE, CORRECT AND COMPLETE. DECLARATION OF THE PREPARER
(OTHER THAN RESPONSIBLE PARTY): IS BASED ON ALL INFORMATION OF WHICH
PREPARER HAS ANY KNOWLEDGE.
RESPONSIBLE PARTY:
\s\ JOHN M. FROEHLICH CFO
-------------------------------------- -------------
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY TITLE
JOHN M. FROEHLICH JAN 17, 2008
-------------------------------------- -------------
PRINTED NAME OF RESPONSIBLE PARTY DATE
PREPARER:
-------------------------------------- -------------
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY TITLE
-------------------------------------- -------------
PRINTED NAME OF RESPONSIBLE PARTY DATE
- A-1 -
REUNION INDUSTRIES, INC. CASE NO. 07-50727(AHWS)
ACCRUAL BASIS - 1
COMPARITIVE BALANCE SHEET
AS OF THE PERIODS SHOWN
-----------------------
($ amounts in thousands)
26-Nov-07 31-Dec-07
--------- ---------
ASSETS:
Cash and Equivalents $ 754 $ 1,121
Net Receivables 7,166 8,116
Net Inventory 12,369 12,101
Other Current Assets 3,029 2,624
------- -------
Current 23,318 23,962
Net Property 6,300 6,262
Goodwill 10,994 10,994
CSV policies 2,200 2,194
Interest in China JV 3,009 3,046
------- -------
Total $ 45,821 $ 46,458
======= =======
LIABILITIES & EQUITY:
Current Maturities of Debt $ 0 $ 0
Trade Payables 3,305 3,629
Accrued Income Taxes 0 11
Accrued Interest 544 562
Customer Deposits 4,424 3,337
Accrued Other 4,272 3,439
------- -------
Current 12,545 10,978
Secured Debt and interest 53,418 55,840
Other Liabilities 3,101 3,133
------- -------
Total Liabilities 69,064 69,951
Total Equity (23,243) (23,493)
------- -------
Total $ 45,821 $ 46,458
======= =======
- A-2 -
REUNION INDUSTRIES, INC. CASE NO. 07-50727(AHWS)
ACCRUAL BASIS - 2
INCOME STATEMENT
FOR THE POST PETITION PERIOD ENDED DECEMBER 31, 2007
----------------------------------------------------
($ amounts in thousands)
31-Dec-07
---------
Net Sales $ 5,150
Cost of Sales:
Standard Cost 3,569
Variances & Other 537
------
Gross Profit 1,044
Operating Expenses:
Marketing 128
General & Admin 478
------
Operating Profit 438
Other Income(Expense) 3
Equity in China JV 37
Reorganization exp:
Professional fees
U.S. Trustee fees
Other
Adequate Protection Paym't Exp. (100)
Interest Expense - excluding Adequate
Protection Payments (628)
------
Profit before tax (250)
Income Tax 0
------
Net Income $ (250)
======
- A-3 -
REUNION INDUSTRIES, INC. CASE NO. 07-50727(AHWS)
ACCRUAL BASIS - 3
CASH RECEIPTS AND DISBURSEMENTS
POST-PETITION THRU DECEMBER 31, 2007
------------------------------------
Cash - beginning of period excluding
lock-boxes $ 429,528
Plus: DIP borrowings 5,542,000
Less: Disbursements
Net payroll 1,026,471
Payroll taxes 560,633
Steel purchases - CPI 1,005,818
Other operating 2,195,121
Reorganization:
Professional fees 0
U.S. Trustee fees 0
Adequate Protection Payments 127,098
---------
Total 4,915,141
Less: Outstanding checks 547,149
---------
Cash - end of period $ 509,238
=========
NOTE:
Cash above does not include amounts in the lock-box accounts
for CPI and Hanna as these lock-box receipts are sent
directly to Wachovia Bank under the DIP financing facility.
MEMO ONLY ITEMS:
Cash Receipts-book:
Receivable collections $ 3,475,188
Non-receivable receipts 130,515
Receipts transferred to DIP bank (3,771,640)
----------
MEMO ONLY: Net activity $ (165,937)
==========
DIP bank interest/fees charged directly $ 271,412
==========
- A-4 -
REUNION INDUSTRIES, INC. CASE NO. 07-50727(AHWS)
ACCRUAL BASIS - 4 page 1/4
AGINS OF RECEIVABLES/PAYABLES AND TAX STATUS
POST-PETITION THRU DECEMBER 31, 2007
------------------------------------
Schedule As of
Amount 31-Dec-07
-------- ---------
ACCOUNTS RECEIVABLE AGINGS:
0-30 $3,378,574 $3,984,065
31-60 2,215,452 2,536,228
61-90 1,059,536 1,125,731
91+ 525,978 536,881
--------- ---------
Total 7,179,540 8,182,905
Est. uncollectible (101,000) (101,000)
--------- ---------
Receivables-net $7,078,540 $8,081,905
========= =========
As of
31-Dec-07
---------
ACCOUNTS PAYABLE:
0-30 $ 447,020
31-60 1,191,771
61-90 820,339
91+ 1,122,196
---------
Total $3,581,326
=========
Beg End
Liability Accrued Paid Liability
--------- ------- ---- ---------
NON-PAYROLL TAXES:
Sales $ 0 $ 0
Excise $ 0 $ 0
Real Property $ 0 $ 0
Personal Property $ 0 $ 0
PAYROLL TAXES - See attached pages
- A-5 -
REUNION INDUSTRIES, INC. CASE NO. 07-50727(AHWS)
ACCRUAL BASIS - 4 page 2/4
FIT/FICA TAX PAYMENTS and FUTA 940 TAX PAYMENTS
POST-PETITION THRU DECEMBER 31, 2007
------------------------------------
DATE REFERENCE CPI HANNA
PAID NUMBER CPI HANNA MGT MGT HQ TOTAL
---- --------- ------ ------- ------ ------- -------- ---------
11/27 941 00386033 4,743.76 20,011.68 24,755.44
11/29 941 00775324 18,250.47 12,636.50 17,015.20 19,035.66 66,937.83
11/30 941 00053575 43,959.84 43,959.84
12/01 0.00
12/02 0.00
12/03 0.00
12/04 0.00
12/05 941 00617959 19,921.99 12,305.53 16,270.15 17,868.74 66,366.41
12/06 0.00
12/07 0.00
12/08 0.00
12/09 0.00
12/10 0.00
12/11 941 00380219 4,269.30 18,380.79 22,650.09
12/12 0.00
12/13 941 00526758 43,216.22 43,216.22
12/14 0.00
12/15 0.00
12/16 0.00
12/17 0.00
12/18 941 00930019 16,084.00 12,286.39 16,599.60 22,740.40 67,710.39
12/19 0.00
12/20 0.00
12/21 0.00
12/22 0.00
12/23 0.00
12/24 0.00
12/25 0.00
12/26 941 00954619 51,812.54 18,416.76 70,229.30
12/27 0.00
12/28 0.00
12/29 0.00
12/30 0.00
12/31 941 00536988 20,388.85 23,404.13 19,826.28 58,361.30 121,980.56
---------- ---------- --------- --------- --------- ----------
TOTAL 148,001.66 131,454.54 60,632.55 69,711.23 118,006.10 527,806.08
========== ========== ========= ========= ========= ==========
- A-6 -
REUNION INDUSTRIES, INC. CASE NO. 07-50727(AHWS)
ACCRUAL BASIS - 4 page 3/4
PENNSYLVANIA, NORTH CAROLINA AND OHIO WITHHOLDING TAX
POST-PETITION THRU DECEMBER 31, 2007
------------------------------------
DATE REFERENCE CPI HANNA
PAID NUMBER CPI HANNA MGT MGT HQ TOTAL
---- --------- ------ ------- ------ ------- -------- ---------
11/27 0.00
11/28 0.00
11/29 0.00
11/30 0.00
12/01 0.00
12/02 0.00
12/03 0.00
12/04 0.00
12/05 PA 01277 5,219.61 1,342.04 1,638.15 8,199.80
12/06 0.00
12/07 0.00
12/08 0.00
12/09 0.00
12/10 0.00
12/11 0.00
12/12 0.00
12/13 0.00
12/14 0.00
12/15 0.00
12/16 0.00
12/17 0.00
12/18 0.00
12/19 PA 62181 5,168.43 1,338.20 1,638.15 8,144.78
12/20 0.00
12/21 0.00
12/22 0.00
12/23 0.00
12/24 0.00
12/25 0.00
12/26 0.00
12/27 0.00
12/28 0.00
12/29 0.00
12/30 0.00
12/31 0.00
--------- ---- -------- ---- -------- ---------
TOTAL 10,388.04 0.00 2,680.24 0.00 3,276.30 16,344.58
========= ==== ======== ==== ======== =========
- A-7 -
REUNION INDUSTRIES, INC. CASE NO. 07-50727(AHWS)
ACCRUAL BASIS - 4 page 4/4
ILLINOIS, INDIANA, WISCONSIN AND NEW YORK WITHHOLDING TAX
POST-PETITION THRU DECEMBER 31, 2007
------------------------------------
DATE REFERENCE CPI HANNA
PAID NUMBER CPI HANNA MGT MGT HQ TOTAL
---- --------- ------ ------- ------ ------- -------- ---------
11/27 0.00
11/28 0.00
11/29 IL 64398 1,950.18 1,950.18
11/30 WI 31803449918 938.06 938.06
12/01 0.00
12/02 0.00
12/03 0.00
12/04 0.00
12/05 IL 01204 1,912.06 1,377.72 296.15 3,594.93
12/06 0.00
12/07 0.00
12/08 0.00
12/09 0.00
12/10 0.00
12/11 0.00
12/12 IL 02440 1,824.96 1,824.96
12/13 0.00
12/14 WI 33403478663 829.54 428.35 1,320.89
12/15 0.00
12/16 0.00
12/17 0.00
12/18 IL 62049 1,621.67 1,403.89 997.13 4,022.69
12/19 0.00
12/20 IN 01244 71.80 71.80
12/21 0.00
12/22 0.00
12/23 0.00
12/24 0.00
12/25 0.00
12/26 0.00
12/27 IL 05414 1,833.01 1,833.01
12/28 0.00
12/29 0.00
12/30 0.00
12/31 WI 34803507275 487.38 438.54 925.92
----- --------- ---- -------- -------- ---------
TOTAL 0.00 11,468.86 0.00 3,648.50 1,365.08 16,482.44
==== ========= ==== ======== ======== =========
- A-8 -
REUNION INDUSTRIES, INC. CASE NO. 07-50727(AHWS)
ACCRUAL BASIS - 5 page 1/5
The debtor in possession must complete the reconciliation below for each bank
account,including all general, payroll and tax account, as well as all savings
and investment accounts, money market accounts, certificate of deposit,
government obligations, etc. Accounts with restricted funds should be
identified by placing an asterisk next to the account number. Attach
additional sheets if necessary.
BANK RECONCILIATIONS MONTH: DECEMBER
-------------------
Account #1 Account #2 Account #3
-----------------------------------------
A. BANK PNC BANK----------------------------------
B. ACCOUNT NUMBER 2161326 2184149 2880718
C. PURPOSE (TYPE) OPERATING PAYROLL HEALTHCARE TOTAL
--------- -------- ---------- --------
1. BALANCE PER BANK STATEMENT $160,688 $ 5,342 $ 39,510
2. ADD: TOTAL DEPOSITS NOT CREDITED - - -
3. SUBTRACT: OUTSTANDING CHECKS 120,688 5,342 39,510
4. OTHER RECONCILING ITEMS 467,585 - -
5. MONTH END BALANCE PER BOOKS $507,585 $ 0 $ 0 $507,585
6. NUMBER OF LAST CHECK WRITTEN 30180 128260
INVESTMENT ACCOUNTS
DATE OF TYPE OF PURCHASE CURRENT
BANK ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PRICE VALUE
----------------------- -------- --------- ------ -------
OVERNIGHT
7. PNC - 2161326 VAR MONEY MARKET $467,585 $ 467,585
8.
9.
10.
11. TOTAL INVESTMENT $ 467,585
CASH
12. CURRENCY ON HAND $ 300
13. TOTAL CASH END OF MONTH $1,120,995
- A-9 -
REUNION INDUSTRIES, INC. CASE NO. 07-50727(AHWS)
ACCRUAL BASIS - 5 page 2/5
The debtor in possession must complete the reconciliation below for each bank
account,including all general, payroll and tax account, as well as all savings
and investment accounts, money market accounts, certificate of deposit,
government obligations, etc. Accounts with restricted funds should be
identified by placing an asterisk next to the account number. Attach
additional sheets if necessary.
BANK RECONCILIATIONS MONTH: DECEMBER
-------------------
Account #1 Account #2 Account #3
------------------------------------------
A. BANK PNC PNC PNC
B. ACCOUNT NUMBER 10382890 1011567058 1896806
C. PURPOSE (TYPE) PENSION PENSION WORK FUND TOTAL
-------- --------- ----------- --------
1. BALANCE PER BANK STATEMENT $ 1,123 $ 0 $ 2,086
2. ADD: TOTAL DEPOSITS NOT CREDITED
3. SUBTRACT: OUTSTANDING CHECKS 1,123 2,086
4. OTHER RECONCILING ITEMS
5. MONTH END BALANCE PER BOOKS $ 0 $ 0 $ 0 $ 0
6. NUMBER OF LAST CHECK WRITTEN
INVESTMENT ACCOUNTS
DATE OF TYPE OF PURCHASE CURRENT
BANK ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PRICE VALUE
------------------------- -------- --------- -------- -------
7.
8.
9.
10.
11. TOTAL INVESTMENT
CASH
12. CURRENCY ON HAND
13. TOTAL CASH END OF MONTH
- A-10 -
REUNION INDUSTRIES, INC. CASE NO. 07-50727(AHWS)
ACCRUAL BASIS - 5 page 3/5
The debtor in possession must complete the reconciliation below for each bank
account,including all general, payroll and tax account, as well as all savings
and investment accounts, money market accounts, certificate of deposit,
government obligations, etc. Accounts with restricted funds should be
identified by placing an asterisk next to the account number. Attach
additional sheets if necessary.
BANK RECONCILIATIONS MONTH: DECEMBER
-------------------
Account #1 Account #2 Account #3
------------------------------------------
A. BANK PNC PNC PNC
B. ACCOUNT NUMBER 1898000 1904706 1910807
C. PURPOSE (TYPE) CPI-OP CPI-PAY CPI-PEN TOTAL
------------------ ---------- --------- --------- --------
1. BALANCE PER BANK STATEMENT $ 84,504 $ 14,890 $ 7,467
2. ADD: TOTAL DEPOSITS NOT CREDITED
3. SUBTRACT: OUTSTANDING CHECKS 84,504 14,890 7,467
4. OTHER RECONCILING ITEMS
5. MONTH END BALANCE PER BOOKS $ 0 $ 0 $ 0 $ 0
6. NUMBER OF LAST CHECK WRITTEN
INVESTMENT ACCOUNTS
DATE OF TYPE OF PURCHASE CURRENT
BANK ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PRICE VALUE
------------------------- -------- --------- -------- ------
7.
8.
9.
10.
11. TOTAL INVESTMENT
CASH
12. CURRENCY ON HAND
13. TOTAL CASH END OF MONTH
- A-11 -
REUNION INDUSTRIES, INC. CASE NO. 07-50727(AHWS)
ACCRUAL BASIS - 5 page 4/5
The debtor in possession must complete the reconciliation below for each bank
account,including all general, payroll and tax account, as well as all savings
and investment accounts, money market accounts, certificate of deposit,
government obligations, etc. Accounts with restricted funds should be
identified by placing an asterisk next to the account number. Attach
additional sheets if necessary.
BANK RECONCILIATIONS MONTH: DECEMBER
-------------------
Account #1 Account #2 Account #3
------------------------------------------
A. BANK PNC FIFTH THIRD-----------
B. ACCOUNT NUMBER 1914007 7512940417 1055011
C. PURPOSE (TYPE) LOCK-BOX DISBURSING LOCK-BOX TOTAL
----------- ------------ ---------- ----------
1. BALANCE PER BANK STATEMENT $ 203,010 $ 323,322 $ 408,747
2. ADD: TOTAL DEPOSITS NOT CREDITED
3. SUBTRACT: OUTSTANDING CHECKS 321,669
4. OTHER RECONCILING ITEMS
5. MONTH END BALANCE PER BOOKS $ 203,010 $ 1,653 $ 408,747 $ 613,410
6. NUMBER OF LAST CHECK WRITTEN
INVESTMENT ACCOUNTS
DATE OF TYPE OF PURCHASE CURRENT
BANK ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PRICE VALUE
------------------------- -------- --------- -------- ------
7.
8.
9.
10.
11. TOTAL INVESTMENT
CASH
12. CURRENCY ON HAND
13. TOTAL CASH END OF MONTH
- A-12 -
REUNION INDUSTRIES, INC. CASE NO. 07-50727(AHWS)
ACCRUAL BASIS - 5 page 5/5
The debtor in possession must complete the reconciliation below for each bank
account,including all general, payroll and tax account, as well as all savings
and investment accounts, money market accounts, certificate of deposit,
government obligations, etc. Accounts with restricted funds should be
identified by placing an asterisk next to the account number. Attach
additional sheets if necessary.
BANK RECONCILIATIONS MONTH: DECEMBER
-------------------
Account #1 Account #2 Account #3
------------------------------------------
A. BANK FIFTH THIRD
B. ACCOUNT NUMBER 1065629
C. PURPOSE (TYPE) PAYROLL TOTAL
---------- ---------- --------- ---------
1. BALANCE PER BANK STATEMENT $ 0
2. ADD: TOTAL DEPOSITS NOT CREDITED
3. SUBTRACT: OUTSTANDING CHECKS
4. OTHER RECONCILING ITEMS
5. MONTH END BALANCE PER BOOKS $ 0
6. NUMBER OF LAST CHECK WRITTEN
INVESTMENT ACCOUNTS
DATE OF TYPE OF PURCHASE CURRENT
BANK ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PRICE VALUE
------------------------- -------- --------- -------- ------
7.
8.
9.
10.
11. TOTAL INVESTMENT
CASH
12. CURRENCY ON HAND
13. TOTAL CASH END OF MONTH
- A-13 -
REUNION INDUSTRIES, INC. CASE NO. 07-50727(AHWS)
ACCRUAL BASIS - 6 page 1/2
PAYMENTS TO INSIDERS and PROFESSIONALS
POST PETITION THRU DECEMBER 31, 2007
PAID THIS TOTAL
TYPE OF PERIOD PAID TO
NAME PAYM'T AMOUNT DATE
------------------------ ----------- --------- --------
INSIDERS:
---------
Thomas N. Amonett Director fees $ 1,500 $ 1,500
Thomas L. Cassidy Director fees $ 1,500 $ 1,500
David E. Jackson Director fees $ 1,500 $ 1,500
Joseph C. Lawyer Director fees $ 4,625 $ 4,625
John G. Poole Director fees $ 5,000 $ 5,000
Kimball J. Bradley, CEO Salary $32,627 $32,627
John M. Froehlich, CFO Salary $18,255 $18,255
Thomas J. Vogel, VP Salary $ 9,350 $ 9,350
TOTAL
DATE OF PAID THIS TOTAL INCURRED
COURT AMOUNT PERIOD PAID TO AND
ORDER APPROVED AMOUNT DATE UNPAID
------- -------- --------- ------ ---------
PROFESSIONALS:
--------------
NONE
- A-14 -
REUNION INDUSTRIES, INC. CASE NO. 07-50727(AHWS)
ACCRUAL BASIS - 6 page 2/2
POST PETITION STATUS OF SECURED NOTES
LEASES AND ADEQUATE PROTECTION PAYMENTS
AT DECEMBER 31, 2007
--------------------
MONTHLY PAID POST
INTEREST INTEREST PETITION
PAYM'TS DURING INTEREST
NAME OF CREDITOR DUE MONTH UNPAID
----------------------- -- --------- --------- ---------
SECURED NOTES:(Principal in default)
ADEQUATE PROTECTION PAYMENTS:
Steel Partners $ 39,181 $ 39,181 $ 0
Paradigm Capital $ 11,031 $ 11,031 $ 0
U.S. Bank, as Trustee $380,749 $ 50,000 $330,749
MONTHLY PAID POST
PAYM'TS DURING PETITION
LEASES DUE MONTH UNPAID
------------------------ --------- -------- ---------
KWA Properties $ 70,198 $ 70,198 $ 0
IPC REIT - Stanwix Street Assoc $ 9,362 $ 9,362 $ 0
US Bancorp $ 2,890 $ 2,890 $ 0
Total Equipment Co $ 3,197 $ 3,197 $ 0
Hyster Capital $ 2,043 $ 2,043 $ 0
Equipco $ 1,494 $ 1,494 $ 0
- A-15 -
REUNION INDUSTRIES, INC. CASE NO. 07-50727(AHWS)
ACCRUAL BASIS - 7
QUESTIONNAIRE
-------------
YES NO
--- ---
1. HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE
OF BUSINESS THIS REPORTING PERIOD? X
2. HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR
IN POSSESSION ACCOUNT? X
3. ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM
RELATED PARTIES? X
4. HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS
REPORTING PERIOD? X
5. HAVE ANY POSTPETITION LOANS BEEN RECEIVED BYU THE DEBTOR FROM ANY PARTY? X
6. ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? X
7. ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? X
8. ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? X
9. ARE ANY OTHER POSTPETITION TAXES PAST DUE? X
10.ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? X
11.HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? X
12.ARE ANY WAGE PAYMENTS PAST DUE? X
IF THE ANSWER TO ANY OF TH EABOVE QUESTIONS IS "YES" PROVIDE A DETAILED
EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
5. Loans from Wachovia Bank re: DIP Financing
11. FIT/FICA withholdings from prepetition payrolls
INSURANCE
---------
YES NO
--- ---
1. ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY
INSURANCE COVERAGES IN EFFECT? X
2. ARE ALL PREMIUM PAYMENTS PAID CURRENT? X
3. PLEASE ITEMIZE POLICIES BELOW. SEE PAGE 2
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO" OR IF ANY POLICIES
HAVE BEEN CANCELED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE
AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEET IF NECESSARY.
TYPE OF POLICY CARRIER PERIOD COVERED PAYMENT AMOUNT
& FREQUENCY
---------------- ------- -------------- --------------
SEE PAGE 2--------------------------------------------------------------
- A-16 -
REUNION INDUSTRIES, INC. CASE NO. 07-50727(AHWS)
ADDENDUM TO ACCRUAL BASIS - 7 page 2/2
ITEMIZED INSURANCE POLICIES
CARRIER COVERAGE PERIOD COVERED
Lexington Insurance Property/Machinery Breakdown Apr.2007-March 2008
Liberty Surplus Insurance Corp General Liability Apr.2007-March 2008
American Intern'l Specialty Umbrella Liability Apr.2007-March 2008
Insurance Co. of PA International liability Apr.2007-March 2008
National Union Fire Ins. Kidnap&Ransom/Extortion Apr.2007-March 2008
American Home Assurance Co Crime Apr.2007-March 2008
American Home Assurance Co Workers' Compensation Apr.2007-March 2008
National Union Fire Insurance D&O Liability July 2007-June 2008
PAYMENTS - all current:
-----------------------
For April thru March Policies:
Down payment made and balance financed with Westfield Bank
Nine Installments payments - May 2007 thru Jan 2008
For D&O policy:
Down payment made and balance financed with Westfield Bank
Nine Installments payments - July 2007 thru March 2008
- A-17 -
19293.000/451396.1