Case Doc 496 Filed 04/26/12 Entered 04/26/12 15:39:11 Desc Main Document Page 1 of 17

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2 Document Page 2 of 17 DEBTOR: MID-AMERICA CEDAR, INC. CASE NO: Form 2-B CASH RECEIPTS AND DISBURSEMENTS STATEMENT For Period: _3/1/2012_ to _3/31/2012_ CASH FLOW SUMMARY Current Month Accumulated 1. Beginning Cash Balance $ 476, (1) $ 38, (1) 2. Cash Receipts a. Operations 5, , b. Sale of Assets , c. Loans/advances d. Other Total Cash Receipts $ 5, $ 484, Cash Disbursements a. Operations 1, , b. Debt Service/Secured loan payment c. Professional fees/u.s. Trustee fees , d. Payroll , e. Other Total Cash Disbursements $ 1, $ 42, Net Cash Flow (Total Cash Receipts less Total Cash Disbursements) 4, , Ending Cash Balance (to Form 2-C) $ 480, (2) 0 480, (2) CASH BALANCE SUMMARY Financial Institution Book Balance DIP Deposit Account ( ) US Bank, NA $ 21, DIP Operating Account ( ) US Bank, NA 924, DIP Payroll Account ( ) US Bank, NA 0.00 DIP A/P Account ( ) US Bank, NA -465, DIP Prepaid Credit Card ( ) US Bank, NA 0.00 DIP Health Plan Account ( ) Twin City Federal (TCF) 0.00 DIP Flex Plan Account ( ) Twin City Federal (TCF) 0.00 DIP Mgr Cking Account ( ) US Bank, NA 0.00 Other Interest-bearing Account ( ) US Bank, NA 0.00 TOTAL (must agree with Ending Cash Balance above) $ 480, (2) (1) Accumulated beginning cash balance is the cash available at the commencement of the case. Current month beginning cash balance should equal the previous month's ending balance. Page 1 of 3 (2) All cash balances should be the same. Rev. 01/01/08

3 Document Page 3 of to 3-31 minorsub codedesc TOTAL LLC LDC LYP CMIC CCC MAC WLI/TCT WCS ABC LLW BMW LHC 2/29/ CASH - DEPOSIT ACCOUNTS / US BANK CONTROLLED ACCOUNT 410, , , , , , , , , , , CASH - DEPOSIT ACCOUNTS / US BANK -5,316, , , , , , ,161, , ,673, ,038, ,584, , ,726, CASH - DEPOSIT ACCOUNTS / RETURNED ITEMS CASH - CHECKING ACCOUNTS / US BANK - PAYROLL 17, , CASH - CHECKING ACCOUNTS / US BANK - EAST GRAND FORKS -1,114, , , , ,541, , , , , , ,370, CASH - CHECKING ACCOUNTS / US BANK - ONE CARD ACCOUNT CASH - CHECKING ACCOUNTS / TCF - HEALTH PLAN 568, , , CASH - CHECKING ACCOUNTS / TCF - 125/129 PLAN 6, , CASH - CHECKING ACCOUNTS / US BANK - WCS BOND ACCOUNT , , ,427, , , , , , ,454, , , , ,786, , ,632, /31/ CASH - DEPOSIT ACCOUNTS / US BANK CONTROLLED ACCOUNT 435, , , , , , , , , , , CASH - DEPOSIT ACCOUNTS / US BANK -5,612, , , , , , ,166, , ,673, ,038, ,584, , ,435, CASH - DEPOSIT ACCOUNTS / RETURNED ITEMS CASH - CHECKING ACCOUNTS / US BANK - PAYROLL 22, , CASH - CHECKING ACCOUNTS / US BANK - EAST GRAND FORKS -1,090, , , , ,541, , ,019, , , , ,370, CASH - CHECKING ACCOUNTS / US BANK - ONE CARD ACCOUNT CASH - CHECKING ACCOUNTS / TCF - HEALTH PLAN 544, , , CASH - CHECKING ACCOUNTS / TCF - 125/129 PLAN 6, , CASH - CHECKING ACCOUNTS / US BANK - WCS BOND ACCOUNT ,693, , , , , , ,441, , , , ,786, , ,358, Change -265, , , , , a Cash Reciepts - Operations 9, , , , , b Cash Reciepts - Sale of Assets c Cash Reciepts - Loans/advances d Cash Reciepts - Other 1, , TOTAL 10, , , , , a Cash Disbursements - Operations 20, , , , b Cash Disbursements - Debt Service/Secured loan payments c Cash Disbursements - Professional fees/ US Trustee Fees 232, , d Cash Disbursements - Payroll e Cash Disbursements - Other 23, , , TOTAL 276, , , , , Change -265, , , , , Difference

4 Document Page 4 of 17 DEBTOR: MID-AMERICA CEDAR, INC. CASE NO: Form 2-B CASH RECEIPTS AND DISBURSEMENTS STATEMENT For Period: _3/1/2012_ to _3/31/2012_ CASH RECEIPTS DETAIL (attach additional sheets as necessary) Account No: Date Payer Description Amount See Attached 2a - Operations $ 5, See Attached 2b - Sale of Assets $ 0.00 See Attached 2c - Loans/advances $ 0.00 See Attached 2d - Other $ 0.00 Total Cash Receipts $ 5, (1) (1) Total for all accounts should agree with total cash receipts listed on Form 2-B, page 1 Page 2 of 3 Rev. 01/01/08

5 Document Page 5 of 17 comp dept minacct subacct source trandate Line refno trandesc net DEP 07 Mar 12 2a MAC 5, a Total 5,600.00

6 Document Page 6 of 17 DEBTOR: MID-AMERICA CEDAR, INC. CASE NO: Form 2-B CASH RECEIPTS AND DISBURSEMENTS STATEMENT For Period: _3/1/2012_ to _3/31/2012_ CASH DISBURSEMENTS DETAIL (attach additional sheets as necessary) Account No: Date Check No. Payee Description (Purpose) Amount See Attached 3a - Operations $ 1, See Attached 3b - Debt Service, etc. $ 0.00 See Attached 3c - Professional Fees, etc. $ 0.00 See Attached 3d - Payroll $ 0.00 See Attached 3e - Other $ 0.00 Total Cash Disbursements $ 1, (1) (1) Total for all accounts should agree with total cash disbursements listed on Form 2-B, page 1 Page 3 of 3 Rev. 01/01/08

7 Document Page 7 of 17 comp dept minacct subacct source trandate Line refno trandesc net A/P 31 Mar 12 3a 9999 ACCOUNTS PAYABLE SMRY UEGF 2, DEP 02 Mar 12 2a DUKE ENERGY DEP 05 Mar 12 2a DUKE ENERGY DEP 09 Mar 12 2a DUKE ENERGY a Total 1,269.61

8 Document Page 8 of 17 comp chknumb amount chkdate vndrnumb vndrname chkstat Mar WINDSTREAM O Mar CUSTOM SECURITY INC O , Mar NORTH CAROLINA DEPT OF REVENUE O 46 Total 2,180.93

9 DEBTOR: MID-AMERICA CEDAR, INC. CASE NO: Document Page 9 of 17 Form 2-C COMPARATIVE BALANCE SHEET For Period Ending _March 31, 2012 SEE PAGES FOLLOWING Current Petition ASSETS Month Date (1) Current Assets: Cash (from Form 2-B, line 5) $ 0 $ 0 Accounts Receivable (from Form 2-E) 0 0 Receivable from Officers, Employees, Affiliates 0 0 Inventory 0 0 Other Current Assets :(List) Total Current Assets $ 0 $ 0 Fixed Assets: Land $ 0 $ 0 Building 0 0 Equipment, Furniture and Fixtures 0 0 Total Fixed Assets 0 0 Less: Accumulated Depreciation ( 0 ) ( 0 ) Net Fixed Assets $ 0 $ 0 Other Assets (List): TOTAL ASSETS $ 0 $ 0 LIABILITIES Post-petition Accounts Payable (from Form 2-E) $ 0 $ 0 Post-petition Accrued Profesional Fees (from Form 2-E) 0 0 Post-petition Taxes Payable (from Form 2-E) 0 0 Post-petition Notes Payable 0 0 Other Post-petition Payable(List): Total Post Petition Liabilities $ 0 $ 0 Pre Petition Liabilities: Secured Debt 0 0 Priority Debt 0 0 Unsecured Debt 0 0 Total Pre Petition Liabilities $ 0 $ 0 TOTAL LIABILITIES $ 0 $ 0 OWNERS' EQUITY Owner's/Stockholder's Equity $ 0 $ 0 Retained Earnings - Prepetition 0 0 Retained Earnings - Post-petition 0 0 TOTAL OWNERS' EQUITY $ 0 $ 0 TOTAL LIABILITIES AND OWNERS' EQUITY $ 0 $ 0 (1) Petition date values are taken from the Debtor's balance sheet as of the petition date or are the values Page 1 of 1 listed on the Debtor's schedules. Rev. 01/01/08

10 Page 1 Document Page 10 of 17 MID AMERICA CEDAR = B A L A N C E - S H E E T = A S S E T S CURRENT ASSETS March 31, August 4, CASH - DEPOSIT ACCOUNTS -- US BANK CONTROLLED ACCOUNT 21, , CASH - DEPOSIT ACCOUNTS -- US BANK 924, , CASH - CHECKING ACCOUNTS -- US BANK - PAYROLL CASH - CHECKING ACCOUNTS -- US BANK - EAST GRAND FORKS -465, , CASH MANAGER CHECKING -- BB&T - MAC-NC MGR CHKING ACCT ACCOUNTS RECEIVABLE -- MAC - OSSEO ACCOUNTS RECEIVABLE -- MAC - MATTHEWS 36, ACCOUNTS RECEIVABLE -- EMPLOYEES ACCOUNTS RECEIVABLE -- OTHER RECEIVABLES 290, RESERVE FOR BAD DEBTS - A/R -9, INVENTORY -- MAC - MATTHEWS INVENTORY -- INVENTORY - OTHER INCOME/SHRINKAGE DEPOSITS -183 TOTAL CURRENT ASSETS 771,712 65,415 FIXED ASSETS AUTOMOTIVE 20, AUTOMOTIVE - ACCUM. DEPRECIATION -18, FURNITURE & FIXTURES 15, FURNITURE & FIXTURES - ACCUM. DEPRECIATION -15, EQUIPMENT 23, EQUIPMENT - ACCUM. DEPRECIATION -21, BUILDINGS 745, BUILDINGS - ACCUM. DEPRECIATION -563, LAND 197,563 TOTAL ASSETS 771, ,708 BLNCCURR.FRX - Called by BLNCCURR.PRG - Report File Name MBL46000.PDF 04/17/ :02:40 AM

11 Page 2 Document Page 11 of 17 MID AMERICA CEDAR = B A L A N C E - S H E E T = LIABILITIES & NET WORTH L I A B I L I T I E S CURRENT LIABILITIES March 31, August 4, NOTES PAYABLE - I/C -- LYMAN LUMBER COMPANY 11,245,538 11,160, ACCOUNTS PAYABLE -4,147-1, ACCOUNTS PAYABLE - MANUAL ENTRIES -2, ACCOUNTS PAYABLE - I/C -- INTER-COMPANY A/R - A/P ACCRUED PAYROLL -1, ACCRUED COMMISSIONS -3, ACCRUED VACATIONS -3, ACCRUED BONUS (K) EMPLOYEE CONTRIBUTION (K) EMPLOYER MATCH ACCRUED 125/129 PLAN ACCRUED SALES TAX - MN -1, ACCRUED SALES TAX - NC ACCRUED TAXES - REAL ESTATE -22, ACCRUED INSURANCE - WORKERS COMP CLAIMS ACCRUED EXPENSES -9, ACCRUED FEES -21, TOTAL CURRENT LIABILITIES 11,241,391 11,092,582 LONG TERM DEBT NOTES PAYABLE - SPECIAL ASSESSMENTS TOTAL LIABILITIES NET WORTH 11,241,391 11,092, COMMON STOCK - VOTING -1,000-1, PAID IN CAPITAL - VOTING -- PAID IN CAPITAL -299, , RETAINED EARNINGS - VOTING -- RETAINED EARNINGS - VOTING -10,179,805-10,179, INCOME/LOSS -1,533,296-1,062,484 TOTAL NET WORTH -12,013,101-11,542,289 TOTAL LIABILITIES & NET WORTH -771, ,708 BLNCCURR.FRX - Called by BLNCCURR.PRG - Report File Name MBL46000.PDF 04/17/ :02:40 AM

12 Document Page 12 of 17 DEBTOR: MID-AMERICA CEDAR, INC. CASE NO: Form 2-D PROFIT AND LOSS STATEMENT For Period: _3/1/2012_ to _3/31/2012_ SEE PAGES FOLLOWING Current Accumulated Month Total (1) Gross Operating Revenue $ 0 $ 0 Less: Discounts, Returns and Allowances ( 0 ) ( 0 ) Net Operating Revenue $ 0 $ 0 Cost of Goods Sold 0 0 Gross Profit $ 0 $ 0 Operating Expenses Officer Compensation $ 0 $ 0 Selling, General and Administrative 0 0 Rents and Leases 0 0 Depreciation, Depletion and Amortization 0 0 Other (list): Total Operating Expenses $ 0 $ 0 Operating Income (Loss) $ 0 $ 0 Non-Operating Income and Expenses Other Non-Operating Expenses $ 0 $ 0 Gains (Losses) on Sale of Assets 0 0 Interest Income 0 0 Interest Expense 0 0 Other Non-Operating Income 0 0 Net Non-Operating Income or (Expenses) $ 0 $ 0 Reorganization Expenses Legal and Professional Fees $ 0 $ 0 Other Reorganization Expense 0 0 Total Reorganization Expenses $ 0 $ 0 Net Income (Loss) Before Income Taxes $ 0 $ 0 Federal and State Income Tax Expense (Benefit) 0 0 NET INCOME (LOSS) $ 0 $ 0 (1) Accumulated Totals include all revenue and expenses since the petition date. Page 1 of 1 Rev. 01/01/08

13 MID AMERICA CEDAR CONSOLIDATED Document STATEMENT Page 13 OF INCOME of 17 AUGUST 5, MARCH 31, 2012 Page 1 MARCH 2012 CURRENT Y-T-D SALES CUSTOMER 4,482 TOTAL NET SALES 4,482 TOTAL GROSS PROFIT OPERATING EXPENSES SALARIES MANAGER & OFFICE 5, SALARIES DRIVERS TAXES - PAYROLL TAXES - PERSONAL PROPERTY TAXES - REAL ESTATE -9, TAXES - SALES -1, TELEPHONE UTILITIES , INSURANCE - PROPERTY & LIABILITY 1, INSURANCE - EMPLOYEE 3, INSURANCE - WORKERS COMPENSATION FEES - OTHER -19, SUPPLIES - OFFICE INFORMATION SERVICES EXPENSE 1, AUTOMOBILE POSTAGE FREIGHT & DELIVERY OUT REPAIRS & MAINTENANCE 130 1, FORKLIFT - FUEL & EXPENSE TRUCK - EXPENSE -1, LEASE EXPENSE 824 4,482 TOTAL OPERATING EXPENSES ,633 TOTAL OPERATING INCOME/LOSS ,151 OTHER INCOME INTEREST INCOME , SERVICE CHARGES GAIN/LOSS ON SALE -351,871 TOTAL OTHER INCOME ,730 OTHER EXPENSES STATE TAXES & FEES 2,000 7, CLAIMS -9, INTEREST EXPENSE BAD DEBTS -13,269 TOTAL OTHER EXPENSES 2,000-14,928 NET INCOME/LOSS ,809 NET INCOME/LOSS AFTER TAXES ,809 PRFTCURR.FRX - Called by PRFTCURR.PRG - Report File Name MPL46000.PDF 04/17/ :18:27 AM

14 Document Page 14 of 17 DEBTOR: MID-AMERICA CEDAR, INC. CASE NO: Form 2-E SUPPORTING SCHEDULES For Period: _3/1/2012_ to _3/31/2012_ POST PETITION TAXES PAYABLE SCHEDULE Beginning Amount Amount Date Check Ending Balance (1) Accrued Paid Paid Number Balance Income Tax Withheld: Federal $ 0.00 $ 0.00 $ 0.00 $ 0.00 State FICA Tax Withheld Employer's FICA Tax Unemployment Tax Federal State Sales, Use & Excise Taxes Property Taxes Accrued Income Tax: Federal State , , /15/ Other: TOTALS $ 0.00 $ 2, $ 2, $ 0.00 (1) For first report, Beginning Balance will be $0; thereafter, Beginning Balance will be Ending Balance from prior report. INSURANCE SCHEDULE Premium Carrier Amount of Expiration Paid Coverage Date Through Workers' Compensation Liberty Mutual $ 0 General Liability Liberty Mutual $ 2,000,000 12/31/ /31/2014 Property (Fire, Theft) Lumbermen's Underwriting $ 10,000,000 12/31/ /31/2012 Vehicle Liberty Mutual $ 0 Other (list): Umbrella Everest National $ 0 Executive Risk Chubb $ 3,000,000 12/31/ /31/2013 Computers Travelers $ 0 Page 1 of 2 Rev. 01/01/08

15 Document Page 15 of 17 DEBTOR: MID-AMERICA CEDAR, INC. CASE NO: Form 2-E SUPPORTING SCHEDULES For Period Ending _March 31, 2012 ACCOUNTS RECEIVABLE AND POST PETITION PAYABLE AGING Accounts Post Petition Due Receivable Accounts Payable Under 30 days SEE PAGES FOLLOWING $ 0.00 $ to 60 days to 90 days to 120 days Over 120 days Total Post Petition 0.00 Pre Petition Amounts 0.00 Total Accounts Receivable $ 0.00 Less: Bad Debt Reserve 0.00 Net Accounts Receivable (to Form 2-C) $ 0.00 Total Post Petition Accounts Payable $ 0.00 * Attach a detail listing of accounts receivable and post-petition accounts payable SCHEDULE OF PAYMENTS TO ATTORNEYS AND OTHER PROFESSIONALS Month-end Current Paid in Retainer Month's Current Date of Month-end Balance Accrual Month Court Approval Balance Due * Debtor's Counsel $ 0 $ 0 $ 0 $ 0 Counsel for Unsecured 0 Creditors' Committee Trustee's Counsel Accountant Other: Total $ 0 $ 0 $ 0 $ 0 *Balance due to include fees and expenses incurred but not yet paid. SCHEDULE OF PAYMENTS AND TRANSFERS TO PRINCIPALS/EXECUTIVES** Payee Name Position Nature of Payment Amount See pages following - if applicable $ 0.00 **List payments and transfers of any kind and in any form made to or for the benefit of any proprietor, owner, partner, shareholder, officer or director. Page 2 of 2 Rev. 01/01/08

16 Document Page 16 of 17 DEBTOR: MID-AMERICA CEDAR, INC. CASE NO: Form 2-F QUARTERLY FEE SUMMARY * For Period Ending _March 31, 2012 Cash Quarterly Date Month Year Disbursements ** Fee Due Check No. Paid January 2012 $ 1, February , March , TOTAL 1st Quarter $ 7, $ 325 April $ 0.00 May 0.00 June 0.00 TOTAL 2nd Quarter $ 0.00 $ July 2011 $ 0.00 August , pd /15/2011 September , pd /28/2011 TOTAL 3rd Quarter $ 32, $ October 2011 $ November , December TOTAL 4th Quarter $ 2, $ /27/2012 FEE SCHEDULE Quarterly Disbursements Fee Quarterly Disbursements Fee $0 to $14, $325 $1,000,000 to $1,999, $6,500 $15,000 to $74, $650 $2,000,000 to $2,999, $9,750 $75,000 to $149, $975 $3,000,000 to $4,999, $10,400 $150,000 to $224, $1,625 $5,000,000 to $14,999, $13,000 $225,000 to $299, $1,950 $15,000,000 to $29,999, $20,000 $300,000 to $999, $4,875 $30,000,000 or more... $30,000 * This summary is to reflect the current calendar year's information cumulative to the end of the reporting period ** Should agree with line 3, Form 2-B. Disbursements are net of transfers to other debtor in possession bank accounts Failure to pay the quarterly fee is cause for conversion or dismissal of the chapter 11 case. [11 U.S.C. Sec. 1112(b)(10)] Page 1 of 1 Rev. 01/01/08

17 Document Page 17 of 17 DEBTOR: MID-AMERICA CEDAR, INC. CASE NO: Form 2-G NARRATIVE For Period Ending _March 31, 2012 Please provide a brief description of any significant business and legal actions taken by the debtor, its creditors, or the court during the reporting period, any unusual or non-recurring accounting transactions that are reported in the financial statements, and any significant changes in the financial condition of the debtor which have occurred subsequent to the report date. No Significant Activity in March. Page 1 of 1 Rev. 01/01/08

Summary of Main Checking Account

December 31, 2014 Summary of Main Checking Account Cash In Cash Out Net Change Prior Month Current Pre-Paid Sub Total Current Pre-Paid Sub Total Current Pre-Paid Total Year October 34,667.52 20,265.00