Case 3:20-bk-01940 Doc 180 Filed 12/15/20 Entered 12/15/20

In re: ) Case No.: 3:20-bk-01940, 3:20-bk-01939, 3:20-bk-01941

) Judge: Honorable Charles M. Walker

) Chapter 11

Debtors(s) )

)

MONTHLY OPERATING REPORT FOR MONTH ENDING November 30, 2020

MBH HIGHLAND, LLC, MBH WEST VIRGINIA, LLC, MBH HEALTH CENTER, LLC,, Debtor-In-Possession,

submits its Monthly Operating Report for the period commencing

and ending November 01 - November 30, 2020 as shown by the report and exhibits

containing the following, as indicated:

✓ Monthly Reporting Questionnaire (Attachment 1)

✓ Comparative Balance Sheets (Forms OPR-1 & OPR-2)

✓ Summary of Accounts Receivable (Form OPR-3)

✓ Schedule of Post petition Liabilities (Form OPR-4)

✓ Statement of Income (Loss) (Form OPR-5)

I declare under penalty of perjury that this report and all attachments are true and

correct to the best of my knowledge and belief.

DEBTOR-IN-POSSESSION

Date: By: Steve Moore

Steve Moore

Title: Chief Restructuring Officer

Address: 2216 Abbott Martin Road, Suite 220

Nashville, TN 37215

Telephone:

Email Address:[email protected]

MIDDLE DISTRICT OF TENNESSEE

December 15, 2020

MBH HIGHLAND, LLC, MBH WEST VIRGINIA,

LLC, MBH HEALTH CENTER, LLC,

Case 3:20-bk-01940 Doc 180 Filed 12/15/20 Entered 12/15/20 16:30:50 Desc MainDocument Page 1 of 17

CHAPTER 11MONTHLY OPERATING REPORT

MONTHLY REPORTING

CASE NAME:

MBH HIGHLAND, LLC, MBH WEST

VIRGINIA, LLC, MBH HEALTH CENTER,

LLC,

CASE NUMBER:

3:20-bk-01940, 3:20-bk-01939, 3:20-

bk-01941

MONTH OF: November-20

1. Payroll State the amount of all executive wages paid and taxes withheld and paid.

Name and Title of Executive Gross Net Due Paid

Steve Moore - Chief Restructuring Officer $0.00 $0.00 $0.00 $0.00

Summit WV - Management Company $0.00 $0.00 $0.00 $0.00

Total $0.00 $0.00 $0.00 $0.00

2. Insurance: Is worker's compensation and other insurance in effect? YES Are Payments Current? YES

Coverage Policy Expiration Premium Date Paid

Type Name of Carrier Amount Number Date Amounts Thru

GL/Professional Markel $1M/$3M SM932992 09/27/20 $256,590/year Paid

Auto C N A $1 Million CSL 6079243023 09/27/20 $5,989.76 Paid

D&O Lloyds $1M/$1M ANV127877A 01/23/21 $12,546/YEAR Paid

Property C N A $42,694,980 6079265250 09/27/20 $29,475.23 Paid

Cyber Beazley $1M V28C3F190101 09/27/20 $10,450/year Paid

EPLI Travelers $1M 107108660 06/20/20 $22,315/Year Paid

Workers CompensationGeneral Insurance Company

$1M EA. ACCIDENT/$1M POLICY

LIMIT, $1M EACH EMPLOYEE2000024751

06/01/20 $140,927/Year Paid

Taxes

ATTACHMENT 1

Wages Paid

Page 2 of 17Case 3:20-bk-01940 Doc 180 Filed 12/15/20 Entered 12/15/20 16:30:50 Desc MainDocument Page 2 of 17

ATTACHMENT 1

CASE NAME: MBH HIGHLAND, LLC, MBH WEST VIRGINIA, LLC, MBH

HEALTH CENTER, LLC,

CASE NUMBER: 3:20-bk-01940, 3:20-bk-01939, 3:20-bk-01941


Debtor MBH Highland LLC

MBH Health

Center LLC MBH Highland LLC MBH Highland LLC MBH Highland LLC MBH Highland LLC

3. Bank Accounts Operating Account

Operating

Account

Operating

Account

Operating

Account

Investment

Account

Operating

Account Total

Bank Name ServisFirst Fifth Third BB&T BB&T BB&T BB&T

Account # x3153 x2606 x6592 x8496 x9768 x0869

Beginning bank balance $256,269.27 $58,602.02 $0.00 $0.00 $42,871.03 $0.00 $357,742.32

Plus: Collections $0.00 $0.00 - - - - $0.00

(See attached detail listing)

Less: Disbursements ($89,887.55) ($90.00) - - - - ($89,977.55)

(See attached detail listing)

Other:

Transfers In/Out $0.00 $0.00 - - - - $0.00

DIP Draw/(Sweep) $0.00 $0.00

Ending bank balance: 166,381.72 58,512.02 0.00 0.00 42,871.03 0.00 267,764.77

4. Postpetition Payments List any postpetition payments to professionals and payments on prepetition debts in the schedule below

(attach separate sheet if necessary).

Payments To/On Amount Date Explanation

Total $0.00

Prepetition Debts:

Payments To/On Amount Date Explanation

None this period

Total $0.00

CHAPTER 11

MONTHLY OPERATING REPORT

MONTHLY REPORTING QUESTIONNAIRE


CASE NAME: MBH HIGHLAND, LLC, MBH WEST VIRGINIA, LLC, MBH HEALTH CENTER, LLC,



Date Acct. # Transaction Description Explanation Amount

Total Collections (all accounts) $0.00

ServisFirst: Account x3153

ATTACHMENT 1

CHAPTER 11


DETAILED LISTING OF RECEIPTS





Date Acct # Number Transaction Description Amount Explanation

11/13/20 x3153 Wire Transfer Debit REGUS MANAGEMENT GROUP LLC 121000248 4023919251 (6,609.55) Other Purchased Services

11/13/20 x3153 Wire Transfer Fee ($50.00) Bank Fees/Credit card fees

11/18/20 x3153 723139 Bateman ($83,228.00) Closing - Bateman

Total Disbursements ($89,887.55)

ServisFirst: Account x3153

ATTACHMENT 1

CHAPTER 11


DETAILED LISTING OF DISBURSEMENTS






Total Transfers x3153 $0.00

None this period

Total Transfers x7391 $0.00

ServisFirst:Account x3153

ATTACHMENT 1

CHAPTER 11


DETAILED LISTING OF TRANSFERS






Total Collections x2606 $0.00

Fifth Third: Account x2606

ATTACHMENT 1

CHAPTER 11








11/16/20 x2606 ACH Orion Healthcare ($90.00) EHR

Total Disbursements - x2606 ($90.00) Total Disbursements - x2606


ATTACHMENT 1

CHAPTER 11








None this period Transfers

Total Transfers - x2606 $0.00


ATTACHMENT 1

CHAPTER 11


DETAILED LISTING OF TRANSFERS






No collections for this period

BB&T: Account x6592, x8496, x0869 x9766

ATTACHMENT 1

CHAPTER 11








No Disbursements for this period

BB&T: Account x6592, x8496, x0869 x9766

ATTACHMENT 1

CHAPTER 11




COMPARATIVE BALANCE SHEETSFORM OPR-1

MONTH MONTH MONTH MONTH MONTH MONTH MONTHENDING ENDING ENDING ENDING ENDING ENDING ENDING

5/31/2020 6/30/2020 7/31/2020 8/31/2020 9/30/2020 10/31/2020 11/30/2020Assets

Current AssetsBank Accounts $77,489 ($176,981) $944,174 $828,043 $365,520 $357,742 $267,765Deposits and Prepayments $7,510 $7,510 $0 $0 $0 $0 $0Accounts Receivable $5,218,164 $6,038,593 $0 $0 $0 $0 $0Allowance for Doubtful Accounts ($2,041,514) ($1,534,556) $0 $0 $0 $0 $0Inventory, Net $245,594 $245,594 $0 $0 $0 $0 $0

Total Current Assets $3,507,243 $4,580,160 $944,174 $828,043 $365,520 $357,742 $267,765

Fixed Assets

Office furniture, fixtures and equipment $73,405 $73,405 $0 $0 $0 $0 $0Rolling stock, vehicles $385,480 $385,480 $0 $0 $0 $0 $0

Total Fixed Assets $458,885 $458,885 $0 $0 $0 $0 $0

Total Assets $3,966,128 $5,039,045 $944,174 $828,043 $365,520 $357,742 $267,765


CASE NAME: MBH HIGHLAND, LLC, MBH WEST VIRGINIA, LLC,

MBH HEALTH CENTER, LLC, November 30, 2020


FORM OPR-2

CASE NAME: MBH HIGHLAND, LLC, MBH WEST

VIRGINIA, LLC, MBH HEALTH CENTER, LLC,

CASE NUMBER: 3:20-bk-01940, 3:20-bk-01939, 3:20-

bk-01941

MONTH MONTH MONTH MONTH MONTH MONTH MONTH

ENDING ENDING ENDING ENDING ENDING ENDING ENDING

5/31/2020 6/30/2020 7/31/2020 8/31/2020 9/30/2020 10/31/2020 11/30/2020

Liabilities

Post Petition Liabilities

Accounts Payable $450,677 $197,021 $129,392 $0 $0 $0 $0

DIP ($1,419,710) ($1,239,342) $0 $0 $0 $0 $0

Total Post Petition Liabilities ($969,033) ($1,042,321) $129,392 $0 $0 $0 $0

Pre Petition Liabilities

Secured Debt

CHCT Lending, LLC - Secured $1,300,000 $1,300,000 $1,300,000 $1,300,000 $1,300,000 $1,300,000 $1,300,000

CHCT Lending, LLC - Mezannine $6,176,000 $6,176,000 $6,176,000 $6,176,000 $6,176,000 $6,176,000 $6,176,000

Charleston B&O Taxes $0 $0 $0 $0 $0 $0 $0

Green Capital $0 $0 $0 $0 $0 $0 $0

World Global $0 $0 $0 $0 $0 $0 $0

IRS Installment Agreement $1,227,595 $1,209,595 $1,191,595 $1,173,595 $1,155,595 $1,155,595 $1,155,595

West Virginia Provider Taxes $0 $0

Total Secured Debt $8,703,595 $8,685,595 $8,667,595 $8,649,595 $8,631,595 $8,631,595 $8,631,595

Unsecured Debt

Priority Debt - Charleston B&O Taxes $0 $0 $0 $0 $0 $0 $0

Priority Debt - West Virgina Provider Taxes $0 $0 $0 $0 $0 $0 $0

Non-Priority Debt $8,505,264 $8,505,264 $8,505,264 $8,505,264 $8,505,264 $8,505,264 $8,505,264

Unsecured Debt $8,505,264 $8,505,264 $8,505,264 $8,505,264 $8,505,264 $8,505,264 $8,505,264

Total Liabilities $16,239,825 $16,148,538 $17,302,251 $17,154,859 $17,136,859 $17,136,859 $17,136,859

Equity

Shareholder's Equity (post filing date) ($10,402,211) ($10,402,211) ($10,402,211) ($10,402,211) ($10,402,211) ($10,402,211) ($10,402,211)

Retained Earnings (post filing date) ($902,452) $335,040 ($6,085,258) ($5,924,605) ($6,369,128) ($6,376,905) ($6,466,883)

Total Equity ($11,304,664) ($10,067,172) ($16,487,469) ($16,326,816) ($16,771,339) ($16,779,117) ($16,869,094) $0 $0

Total Liabilities and Equity $3,966,128 $5,039,045 $944,174 $828,043 $365,520 $357,742 $267,765 $0 $0

COMPARATIVE BALANCE SHEETS


FORM OPR-3

MONTH ENDED:

OVER

TOTAL Current 0 - 30 Days 31 -60 Days 61 - 90 Days Over 90

MONTH: September 30, 2020 $0.00 -$ -$ -$ -$

Allowance for doubtful accounts $0.00 <_____> <_____> <_____> <_____> $0.00

Net Accounts Receivable $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

SUMMARY OF ACCOUNTS RECEIVABLE

CASE NAME: MBH HIGHLAND, LLC, MBH

WEST VIRGINIA, LLC, MBH HEALTH CENTER,

LLC, November 30, 2020

CASE NUMBER: 3:20-bk-01940, 3:20-bk-

01939, 3:20-bk-01941


SUMMARY OF POST PETITION LIABILITIES

FORM OPR-4

MONTH ENDED:

TOTAL Current 1-30 31-60 61-90 Over 90

DUE DAYS DAYS DAYS DAYS

ACCRUED EXPENSES:

Accounts Payable $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

TOTAL POST PETITION AP

(see attached AP Detail Listing)

TOTALS: $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

CASE NAME: MBH HIGHLAND, LLC, MBH WEST

VIRGINIA, LLC, MBH HEALTH CENTER, LLC,November 30, 2020

CASE NUMBER: 3:20-bk-01940, 3:20-bk-01939, 3:20-

bk-01941


FORM OPR-4

MONTH ENDED:

InvoiceVendor Name Date Current 1-30 31-60 61-90 Over 90

$0.00

TOTAL POST PETITION AP $0.00 $0.00 $0.00 $0.00 $0.00

Accounts Payable Aging

DETAIL LISTING OF POST PETITION ACCOUNTS PAYABLE

CASE NAME: MBH HIGHLAND, LLC, MBH

WEST VIRGINIA, LLC, MBH HEALTH CENTER,

LLC,

CASE NUMBER: 3:20-bk-01940, 3:20-bk-

01939, 3:20-bk-01941

November 30, 2020


STATEMENT OF INCOME (LOSS) [1]

FORM OPR-5

MONTH MONTH MONTH MONTH MONTH MONTH MONTH MONTH

ENDING ENDING ENDING ENDING ENDING ENDING ENDING ENDING FILING

4/30/2020 5/31/2020 6/30/2020 7/31/2020 8/31/2020 9/30/2020 10/31/2020 11/30/2020 TO DATE

Income

Net Collections $3,040,996 $2,448,883 $1,991,963 $2,195,833 $685,908 $0 $5,385 $0 $10,368,967

Expenses

Employee Compensation ($1,373,124) ($971,534) ($975,578) ($780,655) ($154) $0 $0 $0 ($4,101,045)

Health Insurance ($72,691) ($135,654) ($71,034) $0 ($4,607) $0 $0 $0 ($283,986)

IRS re-payment $0 ($18,000) ($18,000) $0 ($533) $0 $0 $0 ($36,533)

Wellnet ($4,829) $0 $0 $0 $0 $0 $0 $0 ($4,829)

Supplies ($969) ($25,880) ($28,597) ($6,776) ($2,781) $0 $0 $0 ($65,003)

Food ($15,912) ($60,691) ($31,433) ($3,548) $0 $0 $0 $0 ($111,585)

Pharmacy ($23,565) ($11,405) ($10,060) ($481) $0 $0 $0 $0 ($45,511)

Other Purchased Services $0 ($19,101) ($9,626) ($10,489) ($2,494) $0 $0 ($6,610) ($48,319)

Medical Pro Fees/Contracted Physicians ($50,830) ($111,667) ($69,069) ($63,931) ($324) $0 $0 $0 ($295,820)

Other Pro Fees/contracted nurses/lab ($15,673) ($50,077) ($31,126) ($23,910) ($2,601) $0 $0 $0 ($123,387)

Summit Management Fees $0 ($263,289) ($151,077) ($217,948) $0 $0 $0 $0 ($632,313)

EHR ($32,304) ($32,304) ($944) ($90) ($90) ($90) ($90) ($90) ($66,003)

Repairs and Main/ CapEx ($1,732) ($69,135) ($72,296) ($3,323) ($1,649) $0 $0 $0 ($148,135)

Other vendors ($10) ($8,890) ($141,350) ($19,343) ($8,775) ($9,600) $0 $0 ($187,969)

Travel $0 $0 $0 $0 $0 $0 $0 $0 $0

Bank Fees/Credit card fees ($1,333) ($12,860) ($232) ($705) ($362) $0 ($80) ($50) ($15,622)

Insurance ($23,346) ($78,869) ($23,346) ($35,822) ($11,412) ($11,412) ($12,831) $0 ($197,038)

Utilities ($35,929) ($40,483) ($48,880) ($39,701) ($7,632) $0 $0 $0 ($172,625)

Lease Payment/REIT ($225,674) ($224,002) ($105,720) ($234) ($4,506) $0 $0 $0 ($560,136)

Property Tax $0 $0 $0 $0 $0 $0 $0 $0 $0

P-Cards/Credit Cards (Highland) ($19,996) ($30,000) ($24,000) $0 $0 $0 $0 $0 ($73,996)

B&O tax ($9,011) ($11,753) $0 ($68,088) ($13,547) ($585) $0 $0 ($102,985)

Provider tax ($3,364) $0 ($60) $0 $0 $0 $0 $0 ($3,424)

401k passthrough-Great west ($18,514) ($16,884) ($16,231) ($7,676) $0 $0 $0 $0 ($59,305)

HSA funding ($18,423) ($5,153) ($17,867) ($4,523) $0 $0 $0 $0 ($45,966)

Garnishment pass through payment ($5,529) ($5,353) ($3,979) ($4,332) $0 $0 $0 $0 ($19,192)

Professional Fees ($900) ($454,920) ($468,992) ($26,052) $0 ($310,789) $0 $0 ($1,261,653)

DIP Draw/(Sweep) ($1,668,017) $248,307 $180,368 $3,248,256 ($683,106) $0 $0 $0 $1,325,808

IRS Payoff ($18,000) $0 $0 $0 $0 $0 $0 $0 ($18,000)

Closing - AmerisourceBergen Drug Corporation ($10,138) $0 $0 $0 $0 ($10,138)

Closing - Acentria Insurance ($25,092) $0 $0 $0 $0 ($25,092)

Closing - Tortola Advisors, LLC ($55,000) $0 $0 $0 $0 ($55,000)

Closing - Debtor Counsel - Bass, Berry & Sims PLC ($130,000) $0 $0 $0 $0 ($130,000)

Closing - IRS Cure Amount (941 Payroll Taxes) ($1,214,955) $0 $0 $0 $0 ($1,214,955)

Closing - CHCT Post-Petition/Pre-Close (4/1/20 - 6/30/20) Expenses ($167,930) $0 $0 $0 $0 ($167,930)

Closing - State of West Virginia ($636,087) $0 $0 $0 $0 ($636,087)

Closing - CHCT Cure Amount ($1,544,419) $0 $0 $0 $0 ($1,544,419)

Closing - Bateman $0 $0 $0 $0 ($83,228) ($83,228)

US Trustee Fees/Filing Fees ($650) $0 $0 $0 $0 ($128,258) $0 $0 ($128,908)

Total Expenses ($3,640,323) ($2,409,973) ($2,248,554) ($1,853,999) ($804,915) ($460,734) ($13,001) ($89,978) ($11,521,477)

Net Income ($599,328) $38,910 ($256,591) $341,833 ($119,007) ($460,734) ($7,616) ($89,978) ($1,152,510)

[1] Cash based income statement


CASE NAME: MBH HIGHLAND, LLC, MBH WEST VIRGINIA, LLC, MBH HEALTH

CENTER, LLC,

Page 17 of 17

Case 3:20-bk-01940 Doc 180 Filed 12/15/20 Entered 12/15/20 16:30:50 Desc MainDocument Page 17 of 17

Documents

Case 3:20-bk-01940 Doc 180 Filed 12/15/20 Entered 12/15/20