According to the U.S. Bankruptcy Court docket, Point Blank Solutions filed monthly operating reports for November 2014 and December 2014. For the respective periods, the total Debtors reported a consolidated net loss of $150,550 on zero net sales and net loss of $47,838 on zero net sales. The Company paid $226,000 in reorganization expenses during November 2014 and $70,570 during December 2014.
The report also indicates the following total (over 90 days) payments: $1.5 million in unsecured creditors’ committee professional fees; $1.5 million in equity committee professional fees and $4.7 million in Debtor professional fees. Learn more about this body armor manufacturer’s Chapter 11 case.