Fill in this information to identify the case: 

Debtor Name Field of Flowers Inc. 

United States Bankruptcy Court for the:_.,,S=ou=th=e=rn ______ District of _,_F=lo=rid=a __ 

(State) 

Case number: 20-17423-PDR 

D Check if this is an amended filing 

Official Form 425A 

Plan of Reorganization for Small Business Under Chapter 11 02/20 

I Field of Flowers, lnc.'s Plan of Reorganization, Dated September 141 2020 

[If this plan is for a small business debtor under Subchapter V, 11 U.S.C. § 1190 requires that it include "(A) a brief history of the business operations 

of the debtor; (B) a liquidation analysis; and (C) projections with respect to the ability of the debtor to make payments under the proposed plan of 

reorganization." The Background section below may be used for that purpose. Otherwise, the Background section can be deleted from the form, and 

the Plan can start with "Article 1.: Summary"] 

· Background for Cases Filed Under Subchapter V 

A. Description and History of the Debtor's Business 

The Debtor is a Florida Corporation. Since December 27, 1989, the Debtor has been in the business of_ 

retail and wholesale flower and plant sales. The Debtor operates retail locations in Davie, Florida and 

Boca Raton, Florida. The Debtor's storage distribution center and corporate offices are at its Davie 

location at 5123 S. University Drive, Davie Florida. The Debtor also conducts a substantial home and 

commercial delivery operation and services special events (weddings, parties etc.) 

B. Liquidation Analysis 

To confirm the Plan, the Court must find that all creditors and equity interest holders who do not accept the Plan 

will receive at least as much under the Plan as such claim and equity interest holders would receive in a chapter 

7 liquidation. A liquidation analysis is attached to the Plan as Exhibit "A". 

C. Ability to make future plan payments and operate without further reorganization 

The Plan Proponent must also show that it will have enough cash over the life of the Plan to make the required 

Plan payments and operate the debtor's business. 

The Plan Proponent has provided projected financial information as Exhibit "B". 

The Plan Proponent's financial projections show that the Debtor will have projected disposable_income (as 

defined by§ 1191(d) of the Bankruptcy Code) for the period described in§ 1191(c)(2)of$487,602. 

$222,189 of which will be disbursed to allowed unsecured creditors, $231,103 to secured creditors and 

$36,801 to the Florida Department of Revenue. The final Plan payment is expected to be paid on 

December 1, 2023. 

The assumptions made in the projections are in accordance with past experience, _but accounting for the changed retrial environment caused 

by Covid-19 and adjusted for cost reductions reasonably made due to the changed environment. 

You should consult with your accountant or other financial advisor if you have any questions pertaining to these 

projections. · 

Official Form 425A Plan of Reorganization for Small Business Under Chapter 11 page 1 

Case 20-17423-PDR Doc 71 Filed 09/15/20 Page 1 of 13
Debtor Name _________________ _ Case number ___________ _ 

Article 1: Summary 

This Plan of Reorganization (the Plan) under chapter 11 of the Bankruptcy Code (the Code) proposes to pay 

creditors of Field of Flowers (the Debtor) from cash flow from operations. 

This Plan provides for: classes of priority claims; 

classes of secured claims; 

classes of non-priority unsecured clams; and 

classes of equity security holders. 

Non-priority unsecured creditors holding allowed claims will receive distributions, which the proponent of this 

Plan has valued at approximately 12 cents on the dollar, however, in the event the PPP loan obtained by the Debtor 

from JP Morgan Chase pre- petition in the amount of $551,839.56(which has been expended as required for 

purposes of forgiveness of indebtedness) is forgiven pursuant to the applicable federal laws and the claim 

accordingly is not allowed( to the extent forgiven), Debtor estimates the allowed non -priority unsecured creditors will 

receive approximately 27 cents on the dollar. This Plan also provides for payment of an unsecured convenience 

class of claims of $1,500.00 or less (14 claims totaling $11,128.74) with such allowed unsecured non-priority 

creditors to receive 27 cents on the dollar on their respective claims on the Effective Date in full satisfaction of such 

claims. This Plan also provides for the payment of administrative and priority claims. All creditors and equity 

security holders should refer to Articles 3 through 6 of this Plan for information regarding the precise treatment of 

their claim. 

Your rights may be affected. You should read these papers carefully and discuss them with your attorney, if 

you have one. (If you do not have an attorney, you may wish to consult one.) · 

Article 2: Classification of Claims and Interests 

2.01 Class 1 ........................................ AII allowed claims entitled to priority under § 507( a) of the Code ( except administrative 

expense claims under§ 507(a)(2), ["gap" period claims in an involuntary case under§ 507(a)(3),] 

and priority tax claims under§ 507(a)(8)). 

Florida Department of Revenue 

2.02 Class 2 ....................................... The claim of I American Express National Bank 

allowed as a secured claim under § 506 of the Code. 

I, to the extent 

2.03 Class 3.......... .. . . . . . . . . . The claim of ONDECK Capital Inc.to the extent allowed as a secured claim under section 506 of the Code 

2.04 Class 4 All non-priority unsecured claims allowed under§ 502 of the Code in excess of $1,500.00. 

2.05 Class 5 All non-priority unsecured claims allowed under 502 of the Code $1,500.00 or less.(Convenience class) 

2.06 Class 6 ......................... Equity interests of the Debtor. 

Article 3: Treatment of Administrative Expense Claims, Priority Tax Claims, and Quarterly and Court Fees 

3.01 Unclassified claims 

3.02 Administrative expense 

claims 

Official Form 425A 

Under section§ 1123(a)(1), administrative expense claims, and priority tax claims 

are not in classes. 

Each holder of'an administrative expense claim allowed under§ 503 of the Code, will 

be paid in full on the effective date of this Plan, in cash, or upon such other terms as 

may be agreed upon by the holder of the claim and the Debtor. 

Plan of Reorganization for Small Business Under Chapter 11 page 2 

Case 20-17423-PDR Doc 71 Filed 09/15/20 Page 2 of 13
Debtor Name ___________________ _ Case number ____________ _ 

3.03 Priority tax claims 

3.04 Statutory fees 

3.05 Prospective quarterly fees 

Each holder of a priority tax claim will be paid deferred cash payments of a value, as 

of the effective date of the plan, equal to the allowed amount of such claim. 

All fees, if any, required to be paid under 28 U.S.C. § 1930 that are owed on or 

before the effective date of this Plan have been paid or will be paid on the 

effective date. Quarterly US Trustee fees are not paid in subchapter V 

Chapter 11 cases. 

NOT APPLICABLE IN THIS SUBCHAPTER V PLAN. 

Article 4: Treatment of Claims and Interests Under the Plan 

4.01 Claims and interests shall be treated as follows under this Plan: 

Class 1 - Priority claims 

excluding those in Article 3 

Class 2 - Secured claim of 

[American Express National 

Bank 

Class 3-Secured 

Claim of OnDeck 

Captial; Inc. 

Class 4 - Non-priority 

unsecured creditors 

Class 5-Non-priority 

Unsecured creditor 

$1,500 or less 

Class 6 - Equity security 

holders of the.Debtor 

D Impaired 

D Unimpaired 

□ Impaired 

□ Unimpaired 

□ 

□ 

□ 

□ Impaired 

□ Unimpaired 

□ Impaired 

□ Unimpaired 

□ Impaired 

□ Unimpaired 

□ Impaired 

□ Unimpaired 

Article 5: Allowance and Disallowance of Claims 

Class 1 is impaired by this Plan, and The Florida 

Department of Revenue Class 1 Priority Claim will be paid 

monthly over 36 months in $1,022.25 monthly installments 

American Ex~:~~=~,nal Bank shall be paid the 

allowed clai1, f$128,194.09 over three 

years at ttie Tl LL rate of 2% payable in 36 

monthly installments in the amount of $3,671.01 

commencing on the Effective date totaling 

$132,185. 

OnDeck shall be paid the allowed secured portion 

of its claim amount $95,931.67 over three years at 

the TILL rate of 2% payable in 36 monthly 

installments in the amount of $2,747.73 

commencing on the Effective date totaling 

$98,918.00. 

lass-4-allowed·Non-priority-l:Jnsecttred·creditors-shall---·-

receive pro rata quarterly payments of $13,104.25 by check 

from the reorganized debtor for 4 quarters commencing on 

the Effective date, quarterly payments of $14,284.95 in 

quarters 5 through 8, and quarterly payments of $28,158.29 

in quarters 9 through 12. 

Class 5 allowed non-party creditors with allowed claims of 

$1,500 or less shall receive a·pro rata distribution totaling 

27 cents on the dollar on the Effective date(the total 

distribution is estimated to be $3,004.75 to satisfy the 

convenience class claims) 

Equity security holders shall receive no distribution under 

the Plan but shall maintain the same equity interest owned 

by such equity security holder at the time the chapter 11 

case was filed as set forth in the Schedules 

Official Form 425A Plan of Reorganization for Small Business Under Chapter 11 page 3 

Case 20-17423-PDR Doc 71 Filed 09/15/20 Page 3 of 13
Debtor Name _________________ _ Case number ___________ _ 

s.01 Disputed claim 

A disputed claim is a claim that has not been allowed or disallowed [by a final non- appealable order], and as to which 

either: 

(i) a proof of claim has been filed or deemed filed, and the Debtor or another party in interest has filed an objection; or 

(ii) no proof of claim has been filed, and the Debtor has scheduled such claim as disputed, contingent or unliquidated 

5.02 Delay of distribution on a disputed claim 

No distribution will be made on account of a disputed claim unless such claim is allowed by a 

final non appealable order. 

5.03 Settlement of disputed claims 

The Debtor will have the power and authority to settle and compromise a disputed claim with 

court approval and compliance with Rule 9019 of the Federal Rules of Bankruptcy Procedure. 

Article 6: Provisions for Executory Contracts and Unexpired Leases 

e.01 Assumed executory 

contracts and unexpired 

leases 

Official Form 425A 

(a) The Debtor assumes, and if applicable assigns, the following executory 

contracts and unexpired leases as of the effective date: 

The Debtor is assuming its Leases as to its Boca Raton location with the Landlord, 

Investments Limited as agent for Glades-Pike Investors, LLC as well as its Davie 

location with its Landlord Transamerican Land Corp .. Such leases are being assumed 

pursuant to court order after notice and hearing. All other leases listed in Schedule G 

are assumed pursuant to this Plan. 

(b) Except for executory contracts and unexpired leases that have been assumed, 

and if applicable assigned, before the effective date or under section 6.01 (a)of 

this Plan, or that are the subject of a pending motion to assume, and if 

applicable assign, the Debtor will be conclusively deemed to have rejected all 

executory contracts and unexpired leases as of the effective date. 

A proof of a claim arising from the rejection of an executory contract or 

unexpired lease under this section must be filed no later than go days 

after the date of the order confirming this Plan. 

Plan of Reorganization for Small Business Under Chapter 11 page 4 

Case 20-17423-PDR Doc 71 Filed 09/15/20 Page 4 of 13
Debtor Name __________________ _ Case number ____________ _ 

Article 7: Means for Implementation of the Plan 

The Debtor shall fund the plan from its revenues received from the sale of flowers/plants at its store 

locations and delivery services as well as special events which pursuant to its projections is sufficient 

to pay the plan payments on a timely basis. 

The Board of Directors shall consist of the same persons who were on the Board at the time the chapter 

11 case was filed Donn F. Flipse, Chairman, President, CEO; Donn Kim Flipse, Director, Secretary; 

Ellen Decareau, Director, Asst. Treasurer; Diana C. Flipse, Director, Asst Secretary; , Al'y Thompson, 

Director. The Officers shall continue in the same positions they occupied at the time of the filing of the 

petition and through out the Chapter 11 case- Donn Flipse- President, Chairman and CEO, Clara 

Duarte- VP,COO. ; Donn Kim Flipse, Director, Secretary; Ellen Decareau, Director, Asst. Treasurer; 

Diana C. Flipse, Director, Asst Secretary. 

- Article 8: General Provisions 

a.01 Definitions and rules of construction 

The definitions and rules of construction set forth in §§ 101 and 102 of the Code shall apply when terms 

defined or construed in the Code are used in this Plan, and they are supplemented by the following 

definitions: 

[Insert additional definitions if necessary]. 

a.02 Effective date 

The effective date of this Plan is the first business day following the date that is 14 days after the entry of the 

confirmation order. If, however, a stay of the confirmation order is in effect on that date, the effective date will be 

the first business day after the date on which the stay expires or is otherwise terminated. 

a.OJ Severability 

If any provision in this plan is determined to be unenforceable, the determination will in no way limit or affect the enforceability 

and operative fact of any other provision of this Plan. 

8.04 Binding effect 

The rights and obligations of any entity named or referred to in this Plan will be binding upon, and will inure to 

the benefit of the successors or assigns of such entity. 

a.os Captions 

The headings contained in this Plan are for convenience of reference only and do not affect the meaning or 

interpretation of this Plan. 

a.as Controlling effect 

Unless a rule of law or proceduJe is s, 1pplied by federal law (including the Code or the Federal Rules of 

Bankruptcy Procedure), the laws of the State of Florida govern this Plan and any agreements, documents, and 

instruments executed in connection with this Plan, except as otherwise provided in this Plan. 

[8.07 Corporate governance 

Corporate Governance shall be consistent with Florida Law. 

Official Form 425A Plan of Reorganization for Small Business Under Chapter 11 page 5 

Case 20-17423-PDR Doc 71 Filed 09/15/20 Page 5 of 13
Debtor Name _________________ _ Case number ___________ _ 

[B.oa Retention of 

Jurisdiction 

Official Form 425A 

Article XIIIRetention of Jurisdiction by the-Bankruptcy Court 

The Bankruptcy Court shall retain jurisdiction of these proceedings after Confirmation 

for the following purposes: 

a. To enable the Debtor to consummate the Plan and any amended or modified Plan 

and to resolve any disputes arising with respect thereto; 

b. To enable the Debtor to consummate any and all proceedings that it any bring prior 

to the entry of the Confirmation Order; 

c. To determine all controversies relating to or concerning the classification, 

subordination, allowance, valuation or satisfaction of Claims; 

d. To liquidate or estimate for purposes of allowance all contested, contingent or 

unliquidated Claims; 

e. To determine the validity, extent and priority of all liens, if any, against property of the 

Estate; 

f. To determine any assertions or an ownership interest in, the value of, or title to, any 

property of the Estate; 

g. To determine any objections to Administrative Claims. 

h. To determine any(i) adversary proceedings, contested or litigation matters brought 

before the Bankruptcy Court by the Debtor or the Reorganized Debtor; 

i. Without limiting the generality of the preceding paragraph, to determine any 

Avoidance Action brought by the Debtor; 

j. To determine all controversies arising out of any purchase, sale, or contract made or 

undertaken by the Debtor prior to the Confirmation Date; 

k. To enforce all agreements assumed, if any, and to recover all property of the estate, 

wherever located; 

I. To determine any tax liability of the estate in connection with the Plan, action taken, 

distributions or transfers made thereunder; 

m To enforce any and all injunctions created pursuant to the terms of the Plan. 

n. To modify the Plan or to remedy any defect or omission or reconcile any 

inconsistencies in the Plan either before or after the entry of the Confirmation Order; 

o. To hear and determine all controversies, suits, and disputes that may arise in 

connection with the interpretation or enforcement of the Plan; 

p. To make such orders as are necessary or appropriate to carry out the provisions of 

the Plan. 

Plan of Reorganization for Small Business Under Chapter 11 page 6 

Case 20-17423-PDR Doc 71 Filed 09/15/20 Page 6 of 13
Debtor Name ________________ _ Case number __________ _ 

Article 9: Discharge 

Discharge of the Debtor as a corporation under Subchapter V 

If the Debtor's Plan is confirmed under§ 1191 (a), on the effective date of the Plan, the Debtor will be discharged from 

any debt that arose before confirmation of this Plan, to the extent specified in § 1141 ( d)( 1 )(A) of the Code, except that 

the Debtor will not be discharged of any debt: 

(i) imposed by this Plan; or 

(ii) to the extent provided in§ ·1141(d)(6). 

If the Debtor's Plan is confirmed under§ 1191 (b ), confirmation of this Plan does not discharge any debt provided for in 

this Plan until the court grants a discharge on completion of all payments due within the first 3 years of this Plan, or as 

otherwise provided in§ 1192 of the Code. The Debtor will not be discharged from any debt: 

(i) on which the last payment is due after the first 3 years of the plan, or as otherwise provided in § 

1192; or 

(ii) excepted from discharge under§ 523(a) of the Code, except as provided in Rule 4007(c) of 

the Federal Rules of Bankruptcy Procedure 

Article 10: Other Provisions 

MODIFICATIONS TO THE PLAN 

The Debtor may propose amendments or modifications to the Plan at any time prior to the Confirmation Date 

without leave of the Bankruptcy Court. After the Confirmation Date parties-in-interest may, with Bankruptcy 

Court approval and so long as it does not materially or adversely affect the interests of Creditors, remedy any 

defect or amiss.ion or reconcile any inconsistencies in the Plan or in the Confirmation Order in such manner as 

may be necessary to carry out the purposes and intent of the Plan. 

Official Form 425A Plan of Reorganization for Small Business Under Chapter 11 page 7 

Case 20-17423-PDR Doc 71 Filed 09/15/20 Page 7 of 13
Debtor Name · Case number 

.·· AMENDMENT,i6F CLAI~~ 

_c::f~lm~_rits ~~af 11C?! .. ~e, perO)!~edJo a,rend. or othe~fse, modify afiy • Claim ~ijer: th~ 1Confirmati9n pate without 

:,.leave ofthe Bankruptcy Court. •. •. ' · ···•• •· 

,NO RECOVERY CLAIMS 

Debtorihas analyzed' pote~UijLpreference, arid .·,r~uclUlerif;t~~~f:r•·a,1aim~.'and;does not•·belleve .. the••pursuWof 1 

such claims would:inateriaJIY,:tJenefifthe 'estate, . .. .. . I ... ,. '. .. . I·,· 

OTHER'.PROVJSIONS 

,,, ·/·::,_,,i>;",'' ' 

It is estimated ,that ,G~mberg I~ ,Abrams w.ill.'.be 9y)etji~pproximate1y: $~q;oq9:0Q f:ll tbe. t.i!'flE3;0f thE3. confi.flTlf:lli,on : "',»J ,,,1,»,r •: ,>', <'':' , .. :,' 'i' Yd~' '. ,',':,•'<• '•-•,:,: '"'• '""'""''':f.,,1,.•,,i, •.>• '•!.' .'•• .• ,· ,, s,.;'f' i" ,· ,;(-' ;•· ,_.,·. i'",\i '< .·::·• \ -~ ·, 

· and 'iMaria. Yip, Sub< ChaRter 'V•Trustee '• w~m:b~ '. owed appr~x1mately:1 $?;SOO.OO, •which\ shall ; be 11 paid Yat 

confirma'tion, 'subject to,.ApgJlcatfon .to·.the ·eo~rt:'andfapproval!byJhe;pourt after:notice'.and 1hearing) JoHhe 

~~t~nt• there i~;instJffipie:nt /¢as~· o.~. h~~q .,toi~,.:1y: G~~:~er~[~f'-~t~m.s1c:18~:11M~fl?! :y1if at COf!firmatioh, they ~ay accept payments on the balc:1nce owed,to.them:subsequent to confirmation of the Plan. ' , , , I ,,,,,, L, <: i,',' · ",', ' ,,',, , ,, ';', ,/ ,, ,. , , ', 

· This,ColJrt shall haveialJthority,to tempor.:trily c:lose,th'1~.case c:1nd reopen sc:in,ewithout D~btorpayfng a case 

reopeniijg fee subject fo notice,' hearing and court approval. . ..·. • . , 1 11 I :\ ' ' 

1 

•••••• 

Aside from the Initial payments on the Effective Date wh

1

ich.shall be.fTladebytheDebtor's Counsel,1the D.ebtor 

will make the .payments under 'the:Plan unless otherwise· orderijd by the'Court I •• ,· • • I 

' . ,, . ' ,'.' 

Dated: September 14, 2020 Respectfully submitted, 

Field of;Flowerf:i;' Inc. 

Otflclal Form 425A 'page 8, 

Case 20-17423-PDR Doc 71 Filed 09/15/20 Page 8 of 13
Debtor Name·-------~--------------- Case number ______________ _ 

Official Form 425A Plan of Reorganization for Small Business Under Chapter 11 page 9 

Case 20-17423-PDR Doc 71 Filed 09/15/20 Page 9 of 13
Exhibit "A" - Liquidation Analysis 

Plan Proponent's Estimated Liquidation Value of Assets 

Assets 

a. Cash on hand 

b. Accounts receivable 

c. Inventory 

d. Office furniture & equipment 

e. Machinery & equipment 

f. Automobiles 

g. Building & Land 

h. Customer list 

i. Investment property (such as stocks, bonds or other 

financial assets) 

j. Lawsuits or other claims against third-parties 

k. Other intangibles (such as domain names) 

Total Assets at Liquidation Value 

Less: 

Secured creditors= recoveries* 

Less: 

Chapter 7 trustee fees and expenses 

Less: 

Chapter 11 administrative expenses 

Less: 

Priority claims, excluding administrative expense claims 

[Less: 

Debtor=s claimed exemptions] 

(1) Balance for unsecured claims in Chapter 7 

(2) Total dollar amount of unsecured claims 

Percentage of Claims Which Unsecured Creditors Would 

Receive Or Retain in a Chapter 7 Liquidation: 

Percentage of Claims Which Unsecured Creditors Will 

Receive or Retain under the Plan: 

There was $137,428.29 in PPP funds which were 

segregated funds, required to be utilized for payroll and 

rent 

*This includes undersecured claim of ONDECK Capital, Inc. 

And Celtic Bank ( Kabbage)( unsecured) 

$14,861.29 

$56,646.26 

$66,665.12 

$6,600 

$15,000 

$62,0001.00 

$0 

$0 

$0 

$0 

$5,000 

$226, 7'22.67 

, $226,772.67 

$50,000 

$75,000 

$ 

$ n/a 

$0 

$1,850,000.00* 

$0 

12% or 27% (depending on 

forgiveness of PPP loan to JP 

Morgan Chase and 

corresponding objection to claim 

sustained) 

Case 20-17423-PDR Doc 71 Filed 09/15/20 Page 10 of 13
Exhibit "A" - Cash on hand on the effective date of the Plan (Estimated) 

Cash on hand on effective date of the Plan: $185,000 

Less B 

Amount of administrative expenses payable on effective date of 

the Plan. 1 

Amount of statutory costs and charges 

Amount of cure payments for executory contracts 

Other Plan Payments due on effective date of the Plan 

Balance after paying these amounts .............. . 

- $75,000 

-0 

-0 2 

---

- $22,603.34 

$87,396.66 

The sources of the cash Debtor will have on hand by the effective date of the Plan are estimated 

as follows: 

$185,000 

$ NONE 

$185,000 

Cash in Debtor's bank account now 

Additional cash Debtor will accumulate from net earnings 

between now and effective date of the Plan. 

Total [This number should match "cash on hand" figure noted 

above 

1 Administrative claimants will agree to alternative treatment to be paid in future to extent necessary to confirm 

Plan. 

2 The cure for the Boca Landlord, Glades-Pike Investors, LLC of$40,000.00 is being paid in 24 monthly 

installments of $1,666.66 together with the monthly lease payments pursuant to the Fourth Amendment to the Lease 

subject to pending approval of the Court 

Case 20-17423-PDR Doc 71 Filed 09/15/20 Page 11 of 13
EXHIBIT "B" 

Projected Financials 

Projected 

Income to Debtor 

Projected Expenses 

& Plan Payments 

Year One: commencing December 1, 2020-November 30, 2021 $6,298,458 $6,298,458 

Year Two: commencing December 1, 2021-November 30, 2022 $7,054,284 $7,054,284 

Year One: commencing December 1, 2022-November 30, 2023 $7,477,541 $7,477,541 

*See attached Ex. R-1 for Current Estimated Expenses and Revenues: 

YEAR 1-December 2020-November 2021 Income & Expenses 

Based on no change from current projections 

YEAR 2-December 2021-November 2022 Income & Expenses 

The income for Year 2 is projected to increase by approximately 12% and expenses to increase 

by approximately 12.5 %. 

YEAR 3-December 2022-November 2023 Income & Expenses 

The income is expected to increase by 6 % for year 3 and expenses for Year 3 are anticipated to 

4.5%. 

Case 20-17423-PDR Doc 71 Filed 09/15/20 Page 12 of 13
THREE YEAR FINANCIAL PROJECTION FOR FIELD OF FLOWERS 

Yearl Year2 

Dec. 2020-Nov. %of Dec. 2021-Nov. %of 

2021 Income 2022 Income 

TOTAL INCOME $6,298,468 100.0% $7,054,284 100.0% 

COST OF GOODS SOLD $2,884,698 45.8% $3,230,862 45.8% 

DIRECT LABOR $598,354 9.5% $670,157 9.5% 

TOTAL DIRECT COSTS , $3,483,053 55.3% $3,901,019 55.3% 

GROSS PROFIT $2,815,415 44.7% $3,153,265 44.7% 

SELLING LABOR $692,831 11.0% $775,971 11.0% 

DELIVERY EXPENSE $662,967 10.5% $728,723 10.3% 

SALES TRANSACTION EXPENSE $125,969 2.0% $141,086 2.0% 

ADVERTISING & PROMOTION EXPENSE $24,000 0.4% $36,000 0.5% 

TOTAL SELLING EXPENSE $1,505,767 23.9% $1,681,780 23.8% 

OCCUPANCY EXPENSE $574,760 9.1% $706,675 10.0% 

CORPORATE LABOR $420,000 6.7% $445,200 6.3% 

OTHER OPERATING EXPENSE $172,269 2.7% $172,269 2.4% 

TOTAL OPERATING EXPENSE $1,167,029 18.5% $1,324,144 21.0% 

TOTAL EXPENSE $2,672,796 42.4% $3,005,923 47.7% 

NET DISPOSABLE INCOME $142,619 2.3% $147,342 2.3% 

PAYMENT TO SECURED CREDITORS $77,935 1.2% $77,935 1.2% 

PAYMENT OF FEE}. 2020 SALES TAX $12,267 0.2% $12,267 0.2% 

PAYMENT TO UNSECURED CREDITORS $52,417 0.8% $57,139 0.9.% 

Year3 

Dec. 2022-Nov. 

2023 

$7,477,541 

$3,424,714. 

$710,366 

$4,135,080 

$3,342,461 

$822,529 

$765,546 

$149,551 

$48,000 

$1,785,626 

$692,010 

$489,720 

$172,269 

$1,353,999 

$3,139,625 

$202,836 

$77,935 

$12,267 

$112,633 

% of 

Income 

100.0% 

45.8% 

9.5% 

55.3% 

44.7% 

11.0% 

10.2% 

2~0% 

0.6% 

23.9% 

9.3% 

6.5% 

2.3% 

21.5% 

49.8% 

3.2% 

1.2% 

0.2% 

1.8% 

Total of 3 

Years 

$222,189 

PENGAD 800-631-6989 

, 

.,, 

~ ~ I :!: m - =i ~ 

Case 20-17423-PDR Doc 71 Filed 09/15/20 Page 13 of 13