Fill in this information to identify the case:

Debtor name Sky Media Pay, Inc

United States Bankruptcy Court for the: SOUTHERN DISTRICT OF FLORIDA

Case number (if known) 21-20444-LMI

Check if this is an

amended filing

Official Form 425A

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

Sky Media Pay, Inc 's Plan of Reorganization, Dated May 22, 2022 

[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 an advertising sales agent for television stations, it began purchasing real estate. The business began and has been operating since

December 2000.

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 $ 26,619.00 monthly .

The final Plan payment is expected to be paid on February 2025 .

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

Article 1: Summary

This Plan of Reorganization (the Plan) under chapter 11 of the Bankruptcy Code (the Code) proposes to pay creditors of Sky Media Pay, Inc (the

Debtor) from [Specify sources of payment, such as an infusion of capital, loan proceeds, sale of assets, cash flow from operations, or future income].

This Plan provides for: 1 classes of priority claims;

 10 classes of secured claims;

 2 classes of non-priority unsecured claims; and

 0 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 .02 cents on the dollar. 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. A

disclosure statement that provides more detailed information regarding this Plan and the rights of creditors and equity security holders has been

circulated with this Plan.

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 All 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)).

 The priority claim of the IRS

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

Case 21-20444-LMI Doc 132 Filed 05/24/22 Page 1 of 15
Debtor Sky Media Pay, Inc Case number (if known) 21-20444-LMI Name

2.02 Class 2 The claims of International Finance Bank two (2) separate claims, Imperial Fund, LLC, MCI Capital, On Deck Capital,

Swift FInancial and the four (4) separate claims of Epic West Condominium Association to the extent allowed as a

secured claim under § 506 of the Code.

2.03 Class 3 All non-priority unsecured claims allowed under § 502 of the Code, includes the claims of Regions Bank, Wells Fargo,

Florida Power and Light, l, l and two (2) separate claims of American Express.

[Add other classes of unsecured claims, if any.]

2.04 Class 4 Equity interests of the Debtor. NONE

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

3.01 Unclassified claims Under section § 1123(a)(1), administrative expense claims, [“gap” period claims in an involuntary case allowed under § 502(f) of

the Code,] and priority tax claims are not in classes.

3.02 Administrative expense

claims

Each holder of an administrative expense claim allowed under Â§ 503 of the Code, as follows, SubChapter V 

Trustee $8,000 and Attorney fee of $12,000 payable upon confirmation from funds held by Attorney, remainder to be 

paid in 6 months.

3.03 Priority tax claims Each holder of a priority tax claim will be paid [Specify terms of treatment consistent with § 1129(a)(9)(C) of the Code].

IRS to receive $504.26 payable at plan confirmation.

3.04 Statutory fees All fees 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.

3.05 Prospective quarterly fees All quarterly fees required to be paid under 28 U.S.C. § 1930(a)(6) or (a)(7) will accrue and be timely paid until the case

is closed, dismissed, or converted to another chapter of the Code

Article 4: Treatment of Claims and Interests Under the Plan

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

Class Impairment Treatment

Class 1 - Priority claims

excluding those in Article 3

 Impaired

 Unimpaired

Included in Article 3

Class 2 – Secured claim of

International Bank, IFB Proof of

Claims 8 and 9

 Impaired

 Unimpaired

Proof of Claim 8: International Finance

Bank, Unit 4811, 32 months in a plan that

pays $2847.29 monthly, for a total of

$91,113.28 and afterwards a balloon

payment on the balance. Parties agree to

sell for no less than $488,381 up to the POC

secured claim amount minus any payments

previously made.

Proof of Claim 9: International Finance Bank,

Unit 4801, 32 months in a plan that pays

$8,773.23 for a total of $280,743.36 and

afterwards a balloon payment on the

balance. Parties agree to sell for no less than

$968,284.80 up to the POC secured claim

amount minus any payments previously

made.

Official Form 425A Plan of Reorganization for a Small Business Under Chapter 11 page 2

Case 21-20444-LMI Doc 132 Filed 05/24/22 Page 2 of 15
Debtor Sky Media Pay, Inc Case number (if known) 21-20444-LMI Name

Class 2, Secured claim of

Imperial Fund LLC, Proof of

Claim 15

Class 2, Secured, claim of

MCI Capital, Proof of Claim 16

Class 2, Secured claim of

Epic West Condominium

Association, Claims 11, 12, 13,

14

Class 2, Secured, claim of

On Deck Capital Claim 10

 Impaired

 Unimpaired

 Impaired

 Unimpaired

 Impaired

 Unimpaired

 Impaired

 Unimpaired

Imperial Fund, LLC, Proof of Claim 15, Debtor 

sold 200 Biscayne Blvd. Way, Unit 4704, Miami, 

FL 33131 on May 13, 2022. At closing, Imperial 

Fund was paid a total of $840,000.00 for full 

satisfaction of the debt.

MCI Capital, 200 Biscayne Blvd Way, Unit 4712,

to be surrendered at confirmation. Creditor is 

granted stay relief upon confirmation.

Epic West Condominium Association, Proof Of

Claim 11, 200 Biscayne Blvd Way, Unit 4704,

Miami, FL 33131 was sold May 15, 2020. Creditor 

was paid $90,398.84 for full satisfaction of the 

debt. 

Epic West Condominium Association, POC 12,

200 Biscayne Blvd. Way, Unit 4712 to be 

surrendered at confirmation. Creditor is granted

stay relief upon confirmation.

Epic West Condominium Association, POC 13,

Unit 4811, regular monthly payment of

$1577.07 plus  arrears $4,960.83 monthly for 12

months.

Epic West Condominium Association, POC 14,

Unit 4801, regular monthly payment of

$3132.60 plus arrears $9,565.70 monthly for 12

months.

Reduce claim to $22,487.00 with 4% interest,

payable $742.03 over 32 months.

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

Case 21-20444-LMI Doc 132 Filed 05/24/22 Page 3 of 15
Debtor Sky Media Pay, Inc Case number (if known) 21-20444-LMI Name

Class 2, Secured, claim of

Swift Financial Claim 4

 Impaired

 Unimpaired

Reduce claim to $30,000 payable $937.50 

over 32 months.

Class 3 – Non-priority

unsecured creditors

 Impaired

 Unimpaired

Class 3 totals $636,677, the class shall share in a total

distribution of $14,529.55 over 32 months. Payments 

shall be distributed pro rata on a monthly basis, 

commencing on the first of the month after the Effective 

Date. The pro rata distribution to the Class 3 Claimholders 

shall be in full satisfaction, settlement, release and 

discharge of their respective Allowed Class 3 Claims

Class 4 - Equity security

holders of the Debtor

None

Article 5: Allowance and Disallowance of Claims

5.01 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

6.01 Assumed executory

contracts and unexpired

leases

(a) The Debtor assumes, and if applicable assigns, the following executory contracts and unexpired leases as of the

effective date:

[List assumed, or if applicable assigned, executory contracts and unexpired leases.]

(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 days after the date of the order confirming this Plan.

Article 7: Means for Implementation of the Plan 

Official Form 425A Plan of Reorganization for a Small Business Under Chapter 11 page 4

Case 21-20444-LMI Doc 132 Filed 05/24/22 Page 4 of 15
Debtor Sky Media Pay, Inc Case number (if known) 21-20444-LMI Name

[Insert here provisions regarding how the plan will be implemented as required under § 1123(a)(5) of the Code. For example, provisions

may include those that set out how the plan will be funded, including any claims reserve to be established in connection with the plan, as

well as who will be serving as directors, officers or voting trustees of the reorganized Debtor.]

Article 8: General Provision

8.01 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].

8.02 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.

8.03 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 effect 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.

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

of this Plan.

[8.06 Controlling Effect Unless a rule of law or procedure is supplied by federal law (including the Code or the Federal Rules of Bankruptcy

Procedure), the laws of the State of FL 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 [If the Debtor is a corporation include provisions required by § 1123(a)(6) of the Code.]

[8.08 Retention of Jurisdiction The bankruptcy court’s jurisdiction extends after the effective date of the plan.

Article 9: Discharge

[Include the appropriate provision in the Plan]

[Discharge if the Debtor is 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

[Insert other provisions, as applicable.]

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

Case 21-20444-LMI Doc 132 Filed 05/24/22 Page 5 of 15
Debtor Sky Media Pay, Inc Case number (if known) 21-20444-LMI Name

The PROPOSED PROVISIONS RELATING TO TRUSTEE APPOINTED UNDER

SUBCHAPTER V OF CHAPTER 11 as attached is incorporated into this plan.

Mortgage payments are being adjusted only, all other terms of the underlying loan

documents and mortgage, which are not being modified by the Plan, shall

remain in full force and effect.

Missed payments on secured debt, including the balloon payments allow

secured creditors relief from the automatic stay, with 7 days notice, unless

payments are brought current within the notice period.

Respectfully submitted,

X /s/ Paola Angulo Paola Angulo

[Signature of the Plan Proponent] [Printed name]

X /s/ Roshawn Banks Roshawn Banks 156965

[Signature of the Attorney for the Plan Proponent] [Printed name]

Official Form 425A Plan of Reorganization for a Small Business Under Chapter 11 page 6

Case 21-20444-LMI Doc 132 Filed 05/24/22 Page 6 of 15
EXHIBIT A

Case 21-20444-LMI Doc 132 Filed 05/24/22 Page 7 of 15
Debtor Name Sky Media Pay, Inc Case Number 21-20444 LMI

Exhibit A : Liquidation Analysis

Plan Proponent's Estimated Liquidation Value of Assets

ASSETS

a. Cash on hand $ 108,857

b. Accounts receivable $ 1,011

c. Inventory $ -

d. Office Furniture and Equipment $ 2,500

e. Machinery and Equipment

f. Automobiles $ -

g. Building, Land

Storage Epic Suite 

4801 / 4811

$ 2,000,000

$ 

$ 

Customer List

Investment Property (such as Stocks, Bonds, other Financial assets $ -

Lawsuits or other claims against third parties

Other Intangibles (such as avoiding powers actions) $ -

Total Assets at Liquidation Value $ 2,112,368

Less Secured creditors' recoveries $ 2,224,319

Less Chapter 7 trustee fees and expenses

Less Chapter 11 administrative expenses $ 22,000

Less Priority claims, excluding administrative expense claims $ 504

Less Debtor's claimed exemptions

(1) Balance for unsecured claims $ 

(2) Total dollar amount of unsecured claims $ 

- 

636,677

Case 21-20444-LMI Doc 132 Filed 05/24/22 Page 8 of 15
EXHIBIT B

Case 21-20444-LMI Doc 132 Filed 05/24/22 Page 9 of 15
July* August September October November December January February March April May June

2023 2023 2023 2023 2023 2023

ADVERTISING INCOME $ 5,761 $ 6,000 $ 10,000 $ 15,000 $ 15,000 $ 20,000 $ 20,000 $ 25,000 $ 25,000 $ 30,000 $ 30,000 $ 15,000

RENTAL UNITS

SUITE 4801 and 4811 $ 20,000 $ 20,000 $ 20,000 $ 20,000 $ 20,000 $ 20,000 $ 20,000 $ 20,000 $ 20,000 $ 20,000 $ 20,000 $ 20,000

RENT STORAGES EPIC $ 1,200 $ 1,200 $ 1,200 $ 1,200 $ 1,200 $ 1,200 $ 1,200 $ 1,200 $ 1,200 $ 1,200 $ 1,200 $ 1,200

RENT CAGES EPIC

TOTAL INCOME RENT $ 21,200 $ 21,200 $ 21,200 $ 21,200 $ 21,200 $ 21,200 $ 21,200 $ 21,200 $ 21,200 $ 21,200 $ 21,200 $ 21,200

ADVERTISING AND RENT INCOME $ 26,961 $ 27,200 $ 31,200 $ 36,200 $ 36,200 $ 41,200 $ 41,200 $ 46,200 $ 46,200 $ 51,200 $ 51,200 $ 36,200

COST ADVERTISING $ 4,032.70 $ 4,200 $ 7,000 $ 10,500 $ 10,500 $ 14,000 $ 14,000 $ 17,500 $ 17,500 $ 21,000 $ 21,000 $ 10,500

NET INCOME $ 22,928 $ 23,000 $ 24,200 $ 25,700 $ 25,700 $ 27,200 $ 27,200 $ 28,700 $ 28,700 $ 30,200 $ 30,200 $ 25,700

Suites 4801 and 4811 are listed for sale

Upon confirmation, Debtor should be holding at least $103,000

SKY MEDIA PAY, INC

PROJECTIONS - YEAR 2022-2023

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EXHIBIT C

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PROPOSED PROVISIONS RELATING TO TRUSTEE APPOINTED UNDER SUBCHAPTER V OF CHAPTER 11 

1. CONSENSUAL PLAN - If the plan of the debtor is confirmed under section 1191(a) of the

Bankruptcy Code, the service of the trustee appointed under Subchapter V of Chapter 11 (the

“Subchapter V Trustee” or “Trustee”) in the case shall terminate when the plan has been

substantially consummated. As such, the debtor shall make all payments under the plan,

including any deposits required by the plan to be distributed on confirmation.

2. NON-CONSENSUAL OR CRAMDOWN PLAN - If the plan is confirmed under section 1191(b) of the

Bankruptcy Code, except as otherwise provided in the plan or in the order confirming the plan,

the Subchapter V Trustee shall make payments to creditors under the plan. As such, the

following provisions shall apply to all claims and disbursements made by the Subchapter V

Trustee under the plan:

a. The debtor shall file with the Court as a supplement to the plan and provide notice to all

creditors at or before confirmation, a list of all the creditors who will be receiving

payments under the plan, the total amount to be paid to each creditor under the plan

(inclusive of all allowed interest and fees) and the payment terms and schedule for each

creditor under the plan.

b. The debtor shall timely pay to the Trustee all funds needed to make payments to

creditors under the plan. If the debtor fails to timely make any plan payment to the

Trustee, the Trustee may file and serve a notice of delinquency upon the debtor and the

debtor's attorney. The debtor shall have 45 days from the date of the notice of

delinquency to make all payments due under the plan, including any payments that

become due within the 45−day period. If the debtor is seeking to cure the delinquency

in a modified plan the debtor must file a motion to modify the confirmed plan within 45

days of the date of the notice of delinquency. If the debtor is not current with plan

payments on the 45th day after the date of the notice of delinquency or has not filed a

motion to modify within that time period, the Trustee will file and serve a report of

non−compliance and may thereafter seek the dismissal or conversion of the case to

Chapter 7.

c. Within two (2) weeks of receiving the funds from the debtor to make the plan

payments, the Trustee will disburse the amounts collected from the debtor, to the

holders of allowed claims pursuant to the treatment in their respective classes and as

indicated below:

i. All payments under the plan will be made by the Trustee to the holder of

each allowed claim at the address of such holder as listed on the Schedules

and/or Proof of Claim, unless the Trustee has been notified in writing of a

change of address.

ii. Any payment required to be made under the plan on a day other than a

business day shall be made on the next succeeding business day.

iii. Any distributions of cash or other property under the plan that is unclaimed for

a period of six (6) months after such distribution was made shall constitute

unclaimed property and any entitlement of any holder of any claim to such

distribution shall be extinguished, forever barred, and shall be returned to the

Debtor.

Case 21-20444-LMI Doc 132 Filed 05/24/22 Page 14 of 15
iv. Claimants shall not be permitted to amend or otherwise modify any claim

after the later of the claims bar date or the confirmation date without

leave of the Bankruptcy Court. Any amendment to a claim filed after the

later of the claims bar date or the confirmation date shall be deemed

disallowed in full and expunged without any action by the Trustee unless

the claimholder has obtained prior Court authorization for the filing of

such amendment. The Trustee shall have no obligation to recognize any

transfer of any claim after distributions have started.

v. Unless expressly provided in the plan or the confirmation order, postpetition interest and fees shall not accrue on or after the Petition Date on

account of any claim.

d. During the pendency of this case, the debtor shall provide copies of yearly income tax

returns to the Trustee (but not file with the Court) no later than 30 days after the due

date to the underlying taxing authority.

3. COMPENSATION - Under section 330 of the Bankruptcy Code, the case-by-case Subchapter V

Trustee shall be compensated for services and reimbursed for expenses. However, the method

of payment of the Subchapter V Trustee compensation depends on the provision under which

the plan is confirmed:

a. The Subchapter V Trustee compensation is estimated to be $_8,000_________ through

confirmation. The Subchapter V Trustee will apply to the Court for an award of

compensation through the application process that is used by professionals. The

Subchapter V Trustee will file a final fee application for compensation to be heard with

the other final fee applications in the case.

b. If the plan is confirmed on a consensual basis under section 1191(a) of the Bankruptcy

Code, then the Subchapter V Trustee’s service ends with substantial consummation of

the plan under section 1183(c)(1), and the Subchapter V Trustee may collect approved

compensation for all services. The Subchapter V Trustee’s allowed compensation, as

with any other administrative expenses, is payable on the effective date of the plan,

unless the Subchapter V Trustee agrees to a different treatment.

c. If the plan is confirmed on a non-consensual basis under section 1191(b) of the

Bankruptcy Code, then the Subchapter V Trustee will remain in place throughout the life

of the plan, and the Subchapter V Trustee may be entitled to additional compensation

for services provided after confirmation. As such, the Subchapter V Trustee may file

additional or supplemental fee applications throughout the life of the plan. Upon

approval of the Trustee’s fee applications in a non-consensual case, as long as all

professional administrative claims are similarly treated in the plan, the debtor shall pay

all fee amounts due to the Trustee on the effective date of the plan, over the remaining

life of the plan, or forthwith.

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