United States Bankruptcy Court District of Maryland - Southern Division

Transcription

1 ase oc 73 Filed 04/03/12 Page 1 of 64 B7 (fficial Form 7) (04/10) nited States Bankruptcy ourt istrict of Maryland Southern ivision n re Federated Sports & Gaming, nc. ase o ebtor(s) hapter 11 SAM F FAAL AFFARS his statement is to be completed by every debtor. Spouses filing a joint petition may file a single statement on which the information for both spouses is combined. f the case is filed under chapter 12 or chapter 13, a married debtor must furnish information for both spouses whether or not a joint petition is filed, unless the spouses are separated and a joint petition is not filed. An individual debtor engaged in business as a sole proprietor, partner, family farmer, or selfemployed professional, should provide the information requested on this statement concerning all such activities as well as the individual's personal affairs. o indicate payments, transfers and the like to minor children, state the child's initials and the name and address of the child's parent or guardian, such as "A.B., a minor child, by John oe, guardian." o not disclose the child's name. See, 11.S.. 112; Fed. R. Bankr. P. 1007(m). Questions 1 18 are to be completed by all debtors. ebtors that are or have been in business, as defined below, also must complete Questions f the answer to an applicable question is "," mark the box labeled "." f additional space is needed for the answer to any question, use and attach a separate sheet properly identified with the case name, case number (if known), and the number of the question. FS "n business." A debtor is "in business" for the purpose of this form if the debtor is a corporation or partnership. An individual debtor is "in business" for the purpose of this form if the debtor is or has been, within six years immediately preceding the filing of this bankruptcy case, any of the following: an officer, director, managing executive, or owner of 5 percent or more of the voting or equity securities of a corporation; a partner, other than a limited partner, of a partnership; a sole proprietor or selfemployed fulltime or parttime. An individual debtor also may be "in business" for the purpose of this form if the debtor engages in a trade, business, or other activity, other than as an employee, to supplement income from the debtor's primary employment. "nsider." he term "insider" includes but is not limited to: relatives of the debtor; general partners of the debtor and their relatives; corporations of which the debtor is an officer, director, or person in control; officers, directors, and any owner of 5 percent or more of the voting or equity securities of a corporate debtor and their relatives; affiliates of the debtor and insiders of such affiliates; any managing agent of the debtor. 11.S ncome from employment or operation of business State the gross amount of income the debtor has received from employment, trade, or profession, or from operation of the debtor's business, including parttime activities either as an employee or in independent trade or business, from the beginning of this calendar year to the date this case was commenced. State also the gross amounts received during the two years immediately preceding this calendar year. (A debtor that maintains, or has maintained, financial records on the basis of a fiscal rather than a calendar year may report fiscal year income. dentify the beginning and ending dates of the debtor's fiscal year.) f a joint petition is filed, state income for each spouse separately. (Married debtors filing under chapter 12 or chapter 13 must state income of both spouses whether or not a joint petition is filed, unless the spouses are separated and a joint petition is not filed.) AM SR $20, January 1, 2011 through ecember 31, 2011 $16, January 1, 2012 to February 28, ncome other than from employment or operation of business State the amount of income received by the debtor other than from employment, trade, profession, or operation of the debtor's business during the two years immediately preceding the commencement of this case. Give particulars. f a joint petition is filed, state income for each spouse separately. (Married debtors filing under chapter 12 or chapter 13 must state income for each spouse whether or not a joint petition is filed, unless the spouses are separated and a joint petition is not filed.) AM SR Software opyright (c) H RPRA

2 ase oc 73 Filed 04/03/12 Page 2 of Payments to creditors omplete a. or b., as appropriate, and c. a. ndividual or joint debtor(s) with primarily consumer debts. List all payments on loans, installment purchases of goods or services, and other debts to any creditor made within 90 days immediately preceding the commencement of this case unless the aggregate value of all property that constitutes or is affected by such transfer is less than $600. ndicate with an (*) any payments that were made to a creditor on account of a domestic support obligation or as part of an alternative repayment schedule under a plan by an approved nonprofit budgeting and credit counseling agency. (Married debtors filing under chapter 12 or chapter 13 must include payments by either or both spouses whether or not a joint petition is filed, unless the spouses are separated and a joint petition is not filed.) AM A ARSS F RR AS F PAYMS AM PA AM SLL WG b. ebtor whose debts are not primarily consumer debts: List each payment or other transfer to any creditor made within 90 days immediately preceding the commencement of the case unless the aggregate value of all property that constitutes or is affected by such transfer is less than $5,850 *. f the debtor is an individual, indicate with an asterisk (*) any payments that were made to a creditor on account of a domestic support obligation or as part of an alternative repayment schedule under a plan by an approved nonprofit budgeting and credit counseling agency. (Married debtors filing under chapter 12 or chapter 13 must include payments and other transfers by either or both spouses whether or not a joint petition is filed, unless the spouses are separated and a joint petition is not filed.) AM AS F PA R PAYMS/ VAL F AM SLL AM A ARSS F RR RASFRS RASFRS WG See Attached Schedule $0.00 $0.00 c. All debtors: List all payments made within one year immediately preceding the commencement of this case to or for the benefit of creditors who are or were insiders. (Married debtors filing under chapter 12 or chapter 13 must include payments by either or both spouses whether or not a joint petition is filed, unless the spouses are separated and a joint petition is not filed.) AM A ARSS F RR A AM SLL RLASHP BR A F PAYM AM PA WG See Attached Schedule $0.00 $ Suits and administrative proceedings, executions, garnishments and attachments a. List all suits and administrative proceedings to which the debtor is or was a party within one year immediately preceding the filing of this bankruptcy case. (Married debtors filing under chapter 12 or chapter 13 must include information concerning either or both spouses whether or not a joint petition is filed, unless the spouses are separated and a joint petition is not filed.) AP F S A AS MBR All n Production, LL v. Federated Sports & Gaming, nc. and Federated Heartland, nc.; ase o. 3:11cv00093RRKKK AR F PRG Suit to collect payments due under Loan ocuments R R AGY A LA.S. istrict ourt, istrict of orth akota SAS R SPS ismissed b. escribe all property that has been attached, garnished or seized under any legal or equitable process within one year immediately preceding the commencement of this case. (Married debtors filing under chapter 12 or chapter 13 must include information concerning property of either or both spouses whether or not a joint petition is filed, unless the spouses are separated and a joint petition is not filed.) AM A ARSS F PRS FR WHS BF PRPRY WAS SZ A F SZR SRP A VAL F PRPRY * Amount subject to adjustment on 4/01/13, and every three years thereafter with respect to cases commenced on or after the date of adjustment. Software opyright (c) H RPRA

3 ase oc 73 Filed 04/03/12 Page 3 of Repossessions, foreclosures and returns List all property that has been repossessed by a creditor, sold at a foreclosure sale, transferred through a deed in lieu of foreclosure or returned to the seller, within one year immediately preceding the commencement of this case. (Married debtors filing under chapter 12 or chapter 13 must include information concerning property of either or both spouses whether or not a joint petition is filed, unless the spouses are separated and a joint petition is not filed.) AM A ARSS F RR R SLLR 6. Assignments and receiverships A F RPSSSS, FRLSR SAL, RASFR R RR SRP A VAL F PRPRY a. escribe any assignment of property for the benefit of creditors made within 120 days immediately preceding the commencement of this case. (Married debtors filing under chapter 12 or chapter 13 must include any assignment by either or both spouses whether or not a joint petition is filed, unless the spouses are separated and a joint petition is not filed.) AM A ARSS F ASSG A F ASSGM RMS F ASSGM R SLM b. List all property which has been in the hands of a custodian, receiver, or courtappointed official within one year immediately preceding the commencement of this case. (Married debtors filing under chapter 12 or chapter 13 must include information concerning property of either or both spouses whether or not a joint petition is filed, unless the spouses are separated and a joint petition is not filed.) AM A ARSS F SA AM A LA F R AS L & MBR A F RR SRP A VAL F PRPRY 7. Gifts List all gifts or charitable contributions made within one year immediately preceding the commencement of this case except ordinary and usual gifts to family members aggregating less than $200 in value per individual family member and charitable contributions aggregating less than $100 per recipient. (Married debtors filing under chapter 12 or chapter 13 must include gifts or contributions by either or both spouses whether or not a joint petition is filed, unless the spouses are separated and a joint petition is not filed.) AM A ARSS F PRS R RGAZA peration SA 7421 Beverly Blvd Los Angeles, A RLASHP BR, F AY A F GF August 2011 SRP A VAL F GF $53,000 raised during charity tournament associated with poker tournament event. he Palms asino and Resort remitted the funds directly to the charity. Fallen Heroes SA Sierra Lakes Prkwy #160 Fontana, A September 2011 $25,000 raised during charity tournament associated with poker tournament event. he Palms asino and Resort remitted the funds directly to the charity. Prevent ancer Foundation 1600 uke Street Suite 500 Alexandria, VA ecember 2011 $48,000 raised during charity tournament associated with poker tournament event. he Palms asino and Resort remitted the funds directly to the charity. Software opyright (c) H RPRA

4 ase oc 73 Filed 04/03/12 Page 4 of Losses List all losses from fire, theft, other casualty or gambling within one year immediately preceding the commencement of this case or since the commencement of this case. (Married debtors filing under chapter 12 or chapter 13 must include losses by either or both spouses whether or not a joint petition is filed, unless the spouses are separated and a joint petition is not filed.) SRP A VAL F PRPRY SRP F RMSAS A, F LSS WAS VR WHL R PAR BY SRA, GV PARLARS A F LSS 9. Payments related to debt counseling or bankruptcy List all payments made or property transferred by or on behalf of the debtor to any persons, including attorneys, for consultation concerning debt consolidation, relief under the bankruptcy law or preparation of the petition in bankruptcy within one year immediately preceding the commencement of this case. AM A ARSS F PAY Shulman Rogers Gandal Pordy & cker, PA Park Potomac Avenue, Sixth Floor Potomac, M Shulman Rogers Gandal Pordy & cker, PA Park Potomac Avenue, Sixth Floor Potomac, M A F PAYM, AM F PAYR F HR HA BR February 10, 2012 February 23, 2012 AM F MY R SRP A VAL F PRPRY $24,000 retainer Additional $75,000 retainer otal paid by Federated Sports & Gaming, nc. and Federated Heartland, nc. was $99,000 (Paid by Federated Sports & Gaming, nc.) 10. ther transfers a. List all other property, other than property transferred in the ordinary course of the business or financial affairs of the debtor, transferred either absolutely or as security within two years immediately preceding the commencement of this case. (Married debtors filing under chapter 12 or chapter 13 must include transfers by either or both spouses whether or not a joint petition is filed, unless the spouses are separated and a joint petition is not filed.) AM A ARSS F RASFR, RLASHP BR A SRB PRPRY RASFRR A VAL RV b. List all property transferred by the debtor within ten years immediately preceding the commencement of this case to a selfsettled trust or similar device of which the debtor is a beneficiary. AM F RS R HR V A(S) F RASFR(S) AM F MY R SRP A VAL F PRPRY R BR'S RS PRPRY Software opyright (c) H RPRA

5 ase oc 73 Filed 04/03/12 Page 5 of losed financial accounts List all financial accounts and instruments held in the name of the debtor or for the benefit of the debtor which were closed, sold, or otherwise transferred within one year immediately preceding the commencement of this case. nclude checking, savings, or other financial accounts, certificates of deposit, or other instruments; shares and share accounts held in banks, credit unions, pension funds, cooperatives, associations, brokerage houses and other financial institutions. (Married debtors filing under chapter 12 or chapter 13 must include information concerning accounts or instruments held by or for either or both spouses whether or not a joint petition is filed, unless the spouses are separated and a joint petition is not filed.) AM A ARSS F S Starion Financial 2754 Brandt rive, S Fargo, YP F A, LAS FR GS F A MBR, A AM F FAL BALA xxxxx3019 ( Account); $236,528 AM A A F SAL R LSG January 9, 2012 ( closed to pay Starion to release security interest on equipment owned by Federated Heartland, nc.) 12. Safe deposit boxes List each safe deposit or other box or depository in which the debtor has or had securities, cash, or other valuables within one year immediately preceding the commencement of this case. (Married debtors filing under chapter 12 or chapter 13 must include boxes or depositories of either or both spouses whether or not a joint petition is filed, unless the spouses are separated and a joint petition is not filed.) AM A ARSS F BAK R HR PSRY AMS A ARSSS F HS WH ASS BX R PSRY SRP F S A F RASFR R SRRR, F AY 13. Setoffs List all setoffs made by any creditor, including a bank, against a debt or deposit of the debtor within 90 days preceding the commencement of this case. (Married debtors filing under chapter 12 or chapter 13 must include information concerning either or both spouses whether or not a joint petition is filed, unless the spouses are separated and a joint petition is not filed.) AM A ARSS F RR A F SFF AM F SFF 14. Property held for another person List all property owned by another person that the debtor holds or controls. AM A ARSS F WR SRP A VAL F PRPRY LA F PRPRY 15. Prior address of debtor f the debtor has moved within three years immediately preceding the commencement of this case, list all premises which the debtor occupied during that period and vacated prior to the commencement of this case. f a joint petition is filed, report also any separate address of either spouse. ARSS AM S AS F PAY 1740 Street, W August, 2010 September, Washington, Spouses and Former Spouses f the debtor resides or resided in a community property state, commonwealth, or territory (including Alaska, Arizona, alifornia, daho, Louisiana, evada, ew Mexico, Puerto Rico, exas, Washington, or Wisconsin) within eight years immediately preceding the commencement of the case, identify the name of the debtor s spouse and of any former spouse who resides or resided with the debtor in the community property state. AM Software opyright (c) H RPRA

6 ase oc 73 Filed 04/03/12 Page 6 of nvironmental nformation. For the purpose of this question, the following definitions apply: "nvironmental Law" means any federal, state, or local statute or regulation regulating pollution, contamination, releases of hazardous or toxic substances, wastes or material into the air, land, soil, surface water, groundwater, or other medium, including, but not limited to, statutes or regulations regulating the cleanup of these substances, wastes, or material. "Site" means any location, facility, or property as defined under any nvironmental Law, whether or not presently or formerly owned or operated by the debtor, including, but not limited to, disposal sites. "Hazardous Material" means anything defined as a hazardous waste, hazardous substance, toxic substance, hazardous material, pollutant, or contaminant or similar term under an nvironmental Law a. List the name and address of every site for which the debtor has received notice in writing by a governmental unit that it may be liable or potentially liable under or in violation of an nvironmental Law. ndicate the governmental unit, the date of the notice, and, if known, the nvironmental Law: S AM A ARSS AM A ARSS F GVRMAL A F VRMAL LAW b. List the name and address of every site for which the debtor provided notice to a governmental unit of a release of Hazardous Material. ndicate the governmental unit to which the notice was sent and the date of the notice. S AM A ARSS AM A ARSS F GVRMAL A F VRMAL LAW c. List all judicial or administrative proceedings, including settlements or orders, under any nvironmental Law with respect to which the debtor is or was a party. ndicate the name and address of the governmental unit that is or was a party to the proceeding, and the docket number. AM A ARSS F GVRMAL K MBR SAS R SPS 18. ature, location and name of business a. f the debtor is an individual, list the names, addresses, taxpayer identification numbers, nature of the businesses, and beginning and ending dates of all businesses in which the debtor was an officer, director, partner, or managing executive of a corporation, partner in a partnership, sole proprietor, or was selfemployed in a trade, profession, or other activity either full or parttime within six years immediately preceding the commencement of this case, or in which the debtor owned 5 percent or more of the voting or equity securities within six years immediately preceding the commencement of this case. f the debtor is a partnership, list the names, addresses, taxpayer identification numbers, nature of the businesses, and beginning and ending dates of all businesses in which the debtor was a partner or owned 5 percent or more of the voting or equity securities, within six years immediately preceding the commencement of this case. f the debtor is a corporation, list the names, addresses, taxpayer identification numbers, nature of the businesses, and beginning and ending dates of all businesses in which the debtor was a partner or owned 5 percent or more of the voting or equity securities within six years immediately preceding the commencement of this case. AM Federated Heartland, nc. LAS FR GS F SALSRY R HR VAL AXPAYR... ()/ MPL ARSS AR F BSSS Wisconsin ircle, Suite 700 hevy hase, M wner and operator of Heartland Poker our BGG A G AS June 2011 Present Software opyright (c) H RPRA

7 ase oc 73 Filed 04/03/12 Page 7 of 64 7 AM b. dentify any business listed in response to subdivision a., above, that is "single asset real estate" as defined in 11.S ARSS he following questions are to be completed by every debtor that is a corporation or partnership and by any individual debtor who is or has been, within six years immediately preceding the commencement of this case, any of the following: an officer, director, managing executive, or owner of more than 5 percent of the voting or equity securities of a corporation; a partner, other than a limited partner, of a partnership, a sole proprietor, or selfemployed in a trade, profession, or other activity, either full or parttime. (An individual or joint debtor should complete this portion of the statement only if the debtor is or has been in business, as defined above, within six years immediately preceding the commencement of this case. A debtor who has not been in business within those six years should go directly to the signature page.) 19. Books, records and financial statements a. List all bookkeepers and accountants who within two years immediately preceding the filing of this bankruptcy case kept or supervised the keeping of books of account and records of the debtor. AM A ARSS an Moser Street Washington, Sandeep Aggarwal 2 Wisconsin ircle, Suite 700 hevy hase, M AS SRVS RR August, 2010 May, 2011 May, 2011 Present b. List all firms or individuals who within the two years immediately preceding the filing of this bankruptcy case have audited the books of account and records, or prepared a financial statement of the debtor. AM ARSS AS SRVS RR Wiener and Garg LL 6000 xecutive Blvd., Suite 520 January 2011 February 2012 Rockville, M c. List all firms or individuals who at the time of the commencement of this case were in possession of the books of account and records of the debtor. f any of the books of account and records are not available, explain. AM ARSS Sandeep Aggarwal 2 Wisconsin ircle, Suite 700 hevy hase, M d. List all financial institutions, creditors and other parties, including mercantile and trade agencies, to whom a financial statement was issued by the debtor within two years immediately preceding the commencement of this case. AM A ARSS PK evelopment 10, LL 8918 Spanish Ridge Avenue Las Vegas, V All n Production, LL th Street South Fargo, ountyline, LL 111 South Wacker rive, Suite 4000 hicago, L A SS various various various MacQuarie apital ctober 15, 2011 Brownstein, Hyatt, Farber and Schreck (ounsel for PK) ecember 21, 2011 Software opyright (c) H RPRA

8 ase oc 73 Filed 04/03/12 Page 8 of 64 8 AM A ARSS Larry Barbetta (Advisor for All n Production, LL) A SS Various 20. nventories a. List the dates of the last two inventories taken of your property, the name of the person who supervised the taking of each inventory, and the dollar amount and basis of each inventory. A F VRY VRY SPRVSR LLAR AM F VRY (Specify cost, market or other basis) b. List the name and address of the person having possession of the records of each of the two inventories reported in a., above. A F VRY AM A ARSSS F SA F VRY RRS 21. urrent Partners, fficers, irectors and Shareholders a. f the debtor is a partnership, list the nature and percentage of partnership interest of each member of the partnership. AM A ARSS AR F RS PRAG F RS b. f the debtor is a corporation, list all officers and directors of the corporation, and each stockholder who directly or indirectly owns, controls, or holds 5 percent or more of the voting or equity securities of the corporation. AR A PRAG AM A ARSS L F SK WRSHP Jeffrey Pollack fficer & irector, Shareholder 13.33% avid Goldberg fficer & irector, Shareholder 13.41% Michael Brodsky fficer & irector, Shareholder (resigned postpetition) ountyline, LL Shareholder 40% 13.41% 22. Former partners, officers, directors and shareholders a. f the debtor is a partnership, list each member who withdrew from the partnership within one year immediately preceding the commencement of this case. AM ARSS A F WHRAWAL b. f the debtor is a corporation, list all officers, or directors whose relationship with the corporation terminated within one year immediately preceding the commencement of this case. AM A ARSS L A F RMA Jay Robert Pritzker irector 2/1/12 Software opyright (c) H RPRA

9 ase oc 73 Filed 04/03/12 Page 9 of Withdrawals from a partnership or distributions by a corporation f the debtor is a partnership or corporation, list all withdrawals or distributions credited or given to an insider, including compensation in any form, bonuses, loans, stock redemptions, options exercised and any other perquisite during one year immediately preceding the commencement of this case. AM & ARSS F RP, RLASHP BR See attachment to SFA 3c A A PRPS F WHRAWAL AM F MY R SRP A VAL F PRPRY 24. ax onsolidation Group. f the debtor is a corporation, list the name and federal taxpayer identification number of the parent corporation of any consolidated group for tax purposes of which the debtor has been a member at any time within six years immediately preceding the commencement of the case. AM F PAR RPRA AXPAYR FA MBR () Federated Sports & Gaming, nc Pension Funds. f the debtor is not an individual, list the name and federal taxpayeridentification number of any pension fund to which the debtor, as an employer, has been responsible for contributing at any time within six years immediately preceding the commencement of the case. AM F PS F AXPAYR FA MBR () Federated Sports & Gaming, nc. 401k Plan LARA R PALY F PRJRY BHALF F RPRA R PARRSHP declare under penalty of perjury that have read the answers contained in the foregoing statement of financial affairs and any attachments thereto and that they are true and correct to the best of my knowledge, information and belief. ate April 3, 2012 Signature /s/ avid Goldberg avid Goldberg hief xecutive fficer [An individual signing on behalf of a partnership or corporation must indicate position or relationship to debtor.] Penalty for making a false statement: Fine of up to $500,000 or imprisonment for up to 5 years, or both. 18.S and 3571 Software opyright (c) H RPRA

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16 }bk1{form 6. Sumary of Schedules}bk{ ase oc 73 Filed 04/03/12 Page 16 of 64 B6 Summary (fficial Form 6 Summary) (12/07) nited States Bankruptcy ourt istrict of Maryland Southern ivision n re Federated Sports & Gaming, nc. ebtor, ase o. hapter SMMARY F SHLS ndicate as to each schedule whether that schedule is attached and state the number of pages in each. Report the totals from Schedules A, B,,, F,, and J in the boxes provided. Add the amounts from Schedules A and B to determine the total amount of the debtor s assets. Add the amounts of all claims from Schedules,, and F to determine the total amount of the debtor s liabilities. ndividual debtors must also complete the "Statistical Summary of ertain Liabilities and Related ata" if they file a case under chapter 7, 11, or 13. AM F SHL AAH. F ASSS LABLS HR (YS/) SHS A Real Property Yes B Personal Property Yes 14 11,378, Property laimed as xempt o 0 reditors Holding Secured laims Yes 1 2,093, reditors Holding nsecured Priority laims (otal of laims on Schedule ) Yes 4 640, F reditors Holding nsecured onpriority laims Yes 18 5,157, G xecutory ontracts and nexpired Leases Yes 7 H odebtors Yes 1 urrent ncome of ndividual ebtor(s) J urrent xpenditures of ndividual ebtor(s) otal umber of Sheets of ALL Schedules o o 0 /A 0 /A 46 otal Assets 11,378, otal Liabilities 7,892, Software opyright (c) H RPRA

17 }bk1{form 6. Statistical Sumary of ertain Liabilities and Related ata}bk{ ase oc 73 Filed 04/03/12 Page 17 of 64 Form 6 Statistical Summary (12/07) nited States Bankruptcy ourt istrict of Maryland Southern ivision n re Federated Sports & Gaming, nc. ebtor, ase o. hapter SASAL SMMARY F RA LABLS A RLA AA (28.S.. 159) f you are an individual debtor whose debts are primarily consumer debts, as defined in 101(8) of the Bankruptcy ode (11.S.. 101(8)), filing a case under chapter 7, 11 or 13, you must report all information requested below. heck this box if you are an individual debtor whose debts are primarily consumer debts. You are not required to report any information here. his information is for statistical purposes only under 28.S Summarize the following types of liabilities, as reported in the Schedules, and total them. ype of Liability Amount omestic Support bligations (from Schedule ) axes and ertain ther ebts wed to Governmental nits (from Schedule ) laims for eath or Personal njury While ebtor Was ntoxicated (from Schedule ) (whether disputed or undisputed) Student Loan bligations (from Schedule F) omestic Support, Separation Agreement, and ivorce ecree bligations ot Reported on Schedule bligations to Pension or ProfitSharing, and ther Similar bligations (from Schedule F) AL State the following: Average ncome (from Schedule, Line 16) Average xpenses (from Schedule J, Line 18) urrent Monthly ncome (from Form 22A Line 12; R, Form 22B Line 11; R, Form 22 Line 20 ) State the following: 1. otal from Schedule, "SR PR, F AY" column 2. otal from Schedule, "AM L PRRY" column 3. otal from Schedule, "AM L PRRY, F AY" column 4. otal from Schedule F 5. otal of nonpriority unsecured debt (sum of 1, 3, and 4) Software opyright (c) H RPRA

18 }bk1{schedule A Real Property}bk{ ase oc 73 Filed 04/03/12 Page 18 of 64 B6A (fficial Form 6A) (12/07) n re Federated Sports & Gaming, nc. ebtor, ase o SHL A RAL PRPRY xcept as directed below, list all real property in which the debtor has any legal, equitable, or future interest, including all property owned as a cotenant, community property, or in which the debtor has a life estate. nclude any property in which the debtor holds rights and powers exercisable for the debtor's own benefit. f the debtor is married, state whether husband, wife, both, or the marital community own the property by placing an "H," "W," "J," or "" in the column labeled "Husband, Wife, Joint, or ommunity." f the debtor holds no interest in real property, write "" under "escription and Location of Property." o not include interests in executory contracts and unexpired leases on this schedule. List them in Schedule G xecutory ontracts and nexpired Leases. f an entity claims to have a lien or hold a secured interest in any property, state the amount of the secured claim. See Schedule. f no entity claims to hold a secured interest in the property, write "" in the column labeled "Amount of Secured laim." f the debtor is an individual or if a joint petition is filed, state the amount of any exemption claimed in the property only in Schedule Property laimed as xempt. escription and Location of Property ature of ebtor's nterest in Property Husband, Wife, Joint, or ommunity urrent Value of ebtor's nterest in Property, without educting any Secured laim or xemption Amount of Secured laim Subotal > 0.00 (otal of this page) 0 continuation sheets attached to the Schedule of Real Property otal > 0.00 (Report also on Summary of Schedules) Software opyright (c) H RPRA

19 }bk1{schedule B Personal Property}bk{ ase oc 73 Filed 04/03/12 Page 19 of 64 B6B (fficial Form 6B) (12/07) n re Federated Sports & Gaming, nc. ebtor, ase o xcept as directed below, list all personal property of the debtor of whatever kind. f the debtor has no property in one or more of the categories, place an "x" in the appropriate position in the column labeled "." f additional space is needed in any category, attach a separate sheet properly identified with the case name, case number, and the number of the category. f the debtor is married, state whether husband, wife, both, or the marital community own the property by placing an "H," "W," "J," or "" in the column labeled "Husband, Wife, Joint, or ommunity." f the debtor is an individual or a joint petition is filed, state the amount of any exemptions claimed only in Schedule Property laimed as xempt. o not list interests in executory contracts and unexpired leases on this schedule. List them in Schedule G xecutory ontracts and nexpired Leases. f the property is being held for the debtor by someone else, state that person's name and address under "escription and Location of Property." f the property is being held for a minor child, simply state the child's initials and the name and address of the child's parent or guardian, such as "A.B., a minor child, by John oe, guardian." o not disclose the child's name. See, 11.S and Fed. R. Bankr. P. 1007(m). ype of Property 1. ash on hand X SHL B PRSAL PRPRY escription and Location of Property Husband, Wife, Joint, or ommunity urrent Value of ebtor's nterest in Property, without educting any Secured laim or xemption 2. hecking, savings or other financial accounts, certificates of deposit, or shares in banks, savings and loan, thrift, building and loan, and homestead associations, or credit unions, brokerage houses, or cooperatives. Starion Financial hecking (xxxxx2649) $3,053 aglebank hecking (xxxxx0203) $20,637 aglebank hecking (xxxxx0252) $10,500 John Marshall Bank hecking (xxxxx0912) $2,966 37, Security deposits with public utilities, telephone companies, landlords, and others. eposit paid to A (Los Angeles, A landlord) 12, he Palms asino and Resort (deposit) (approximate amount) 4, Household goods and furnishings, including audio, video, and computer equipment. 5. Books, pictures and other art objects, antiques, stamp, coin, record, tape, compact disc, and other collections or collectibles. X X 6. Wearing apparel. X 7. Furs and jewelry. X 8. Firearms and sports, photographic, and other hobby equipment. 9. nterests in insurance policies. ame insurance company of each policy and itemize surrender or refund value of each. 10. Annuities. temize and name each issuer. X X X Subotal > (otal of this page) 53, continuation sheets attached to the Schedule of Personal Property Software opyright (c) H RPRA

20 ase oc 73 Filed 04/03/12 Page 20 of 64 B6B (fficial Form 6B) (12/07) ont. n re Federated Sports & Gaming, nc. ebtor, ase o SHL B PRSAL PRPRY (ontinuation Sheet) ype of Property escription and Location of Property Husband, Wife, Joint, or ommunity urrent Value of ebtor's nterest in Property, without educting any Secured laim or xemption 11. nterests in an education RA as defined in 26.S.. 530(b)(1) or under a qualified State tuition plan as defined in 26.S.. 529(b)(1). Give particulars. (File separately the record(s) of any such interest(s). 11.S.. 521(c).) X 12. nterests in RA, RSA, Keogh, or other pension or profit sharing plans. Give particulars. X 13. Stock and interests in incorporated and unincorporated businesses. temize. Subsidiary Federated Heartland, nc. 100% ownership (Value = Purchase Price of Assets in June of 2011) 4,900, nterests in partnerships or joint ventures. temize. 15. Government and corporate bonds and other negotiable and nonnegotiable instruments. X X 16. Accounts receivable. imelife ($8,000) ASPA ($4,000) 12, Alimony, maintenance, support, and property settlements to which the debtor is or may be entitled. Give particulars. 18. ther liquidated debts owed to debtor including tax refunds. Give particulars. X X 19. quitable or future interests, life estates, and rights or powers exercisable for the benefit of the debtor other than those listed in Schedule A Real Property. 20. ontingent and noncontingent interests in estate of a decedent, death benefit plan, life insurance policy, or trust. 21. ther contingent and unliquidated claims of every nature, including tax refunds, counterclaims of the debtor, and rights to setoff claims. Give estimated value of each. X X X Subotal > (otal of this page) 4,912, Sheet 1 of 3 continuation sheets attached to the Schedule of Personal Property Software opyright (c) H RPRA

21 ase oc 73 Filed 04/03/12 Page 21 of 64 B6B (fficial Form 6B) (12/07) ont. n re Federated Sports & Gaming, nc. ebtor, ase o SHL B PRSAL PRPRY (ontinuation Sheet) ype of Property escription and Location of Property Husband, Wife, Joint, or ommunity urrent Value of ebtor's nterest in Property, without educting any Secured laim or xemption 22. Patents, copyrights, and other intellectual property. Give particulars. See attached list of domain names (estimate value) See attached list of patent and trademark applications. pic Poker League Season ne: 1 opyright o. PA pic Poker League Season ne: 2 opyright o. PA pic Poker League Season ne: 3 opyright o. PA pic Poker League Season ne: 3A opyright o. PA pic Poker League Season ne: 4 opyright o. PA pic Poker League Season ne: 5 opyright o. PA pic Poker League Season ne: 6 opyright o. PA pic Poker League Season ne: 7 opyright o. PA pic Poker League Season ne: 7A opyright o. PA Additional 4 hours of programming (no copyright numbers obtained to date), for a total of 11 finished episodes (estimated value) 365, nknown 3,225, pic Social Media Game (on Facebook) nknown 23. Licenses, franchises, and other general intangibles. Give particulars. Palms Agreement (ebtor estimates that the value of this contract is $2,792,025 Based upon 1year projected benefits under contract and assuming 4 events occur during that 1year period; ontract is for a 5year term; Value of benefits over a 5year term is estimated at $13,960,125) Velocity Agreement (value unknown) Poker hannel urope (value unknown) 2,792, ustomer lists or other compilations containing personally identifiable information (as defined in 11.S.. 101(41A)) provided to the debtor by individuals in connection with obtaining a product or service from the debtor primarily for personal, family, or household purposes. X Subotal > (otal of this page) 6,382, Sheet 2 of 3 continuation sheets attached to the Schedule of Personal Property Software opyright (c) H RPRA

22 ase oc 73 Filed 04/03/12 Page 22 of 64 B6B (fficial Form 6B) (12/07) ont. n re Federated Sports & Gaming, nc. ebtor, ase o SHL B PRSAL PRPRY (ontinuation Sheet) ype of Property escription and Location of Property Husband, Wife, Joint, or ommunity urrent Value of ebtor's nterest in Property, without educting any Secured laim or xemption 25. Automobiles, trucks, trailers, and other vehicles and accessories. X 26. Boats, motors, and accessories. X 27. Aircraft and accessories. X 28. ffice equipment, furnishings, and supplies. 2 Mac AirBooks 2 ell Laptop 4 Laptops Sony HV amera 12 Monitors 30, Machinery, fixtures, equipment, and supplies used in business. X 30. nventory. X 31. Animals. X 32. rops growing or harvested. Give particulars. 33. Farming equipment and implements. X X 34. Farm supplies, chemicals, and feed. X 35. ther personal property of any kind not already listed. temize. X Sheet 3 of 3 continuation sheets attached to the Schedule of Personal Property Software opyright (c) H RPRA Subotal > 30, (otal of this page) otal > 11,378, (Report also on Summary of Schedules)

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30 ase oc 73 Filed 04/03/12 Page 30 of 64 Federated Sports & Gaming, nc.schedule of Patent Applications Application itle Application Serial umber ountry Systems and Methods for Producing a Ranking ndex 61/507,358.S.A. Patent 1

31 ase oc 73 Filed 04/03/12 Page 31 of 64 Federated Sports & Gaming, nc.schedule of rademark Applications Mark Reg. o. ountry (Serial o.) P PKR 85/355,771.S.A. P PKR Australia P PKR anada P PKR uropean nion P PKR 85/355,829.S.A. 85/355,824.S.A Australia anada uropean nion rademark 1

32 ase oc 73 Filed 04/03/12 Page 32 of 64 Federated Sports & Gaming, nc.schedule of rademark Applications Mark Reg. o. (Serial o.) ountry 85/355,821.S.A. 85/357,037.S.A. 85/357,027.S.A. 85/357,039.S.A. 85/357,033.S.A. GP 85/371,751.S.A. PLAYRS FRS 85/369,367.S.A. PLAYRS FRS 85/369,371.S.A v1 rademark 2

33 }bk1{schedule reditors Holding Secured laims}bk{ ase oc 73 Filed 04/03/12 Page 33 of 64 B6 (fficial Form 6) (12/07) n re Federated Sports & Gaming, nc. ebtor, ase o SHL RRS HLG SR LAMS State the name, mailing address, including zip code, and last four digits of any account number of all entities holding claims secured by property of the debtor as of the date of filing of the petition. he complete account number of any account the debtor has with the creditor is useful to the trustee and the creditor and may be provided if the debtor chooses to do so. List creditors holding all types of secured interests such as judgment liens, garnishments, statutory liens, mortgages, deeds of trust, and other security interests. List creditors in alphabetical order to the extent practicable. f a minor child is a creditor, the child's initials and the name and address of the child's parent or guardian, such as "A.B., a minor child, by John oe, guardian." o not disclose the child's name. See, 11.S and Fed. R. Bankr. P. 1007(m). f all secured creditors will not fit on this page, use the continuation sheet provided. f any entity other than a spouse in a joint case may be jointly liable on a claim, place an "X" in the column labeled "odebtor",include the entity on the appropriate schedule of creditors, and complete Schedule H odebtors. f a joint petition is filed, state whether the husband, wife, both of them, or the marital community may be liable on each claim by placing an "H", "W", "J", or "" in the column labeled "Husband, Wife, Joint, or ommunity". f the claim is contingent, place an "X" in the column labeled "ontingent". f the claim is unliquidated, place an "X" in the column labeled "nliquidated". f the claim is disputed, place an "X" in the column labeled "isputed". (You may need to place an "X" in more than one of these three columns.) otal the columns labeled "Amount of laim Without educting Value of ollateral" and "nsecured Portion, if Any" in the boxes labeled "otal(s)" on the last sheet of the completed schedule. Report the total from the column labeled "Amount of laim" also on the Summary of Schedules and, if the debtor is an individual with primarily consumer debts, report the total from the column labeled "nsecured Portion" on the Statistical Summary of ertain Liabilities and Related ata. heck this box if debtor has no creditors holding secured claims to report on this Schedule. Account o. RR'S AM A MALG ARSS LG ZP, A A MBR (See instructions above.) PK evelopment 10, LL 8918 Spanish Ridge Avenue Las Vegas, V B R X Husband, Wife, Joint, or ommunity H W J 1/9/12 Blanket Lien A LAM WAS RR, AR F L, A SRP A VAL F PRPRY SBJ L G L Q A X S P AM F LAM WH G VAL F LLARAL SR PR, F AY Value $ nknown 2,093, nknown Account o. Value $ Account o. Value $ Account o. Value $ 0 continuation sheets attached Subtotal (otal of this page) 2,093, otal (Report on Summary of Schedules) 2,093, Software opyright (c) H RPRA

34 }bk1{schedule reditors Holding nsecured Priority laims}bk{ ase oc 73 Filed 04/03/12 Page 34 of 64 B6 (fficial Form 6) (4/10) n re Federated Sports & Gaming, nc. ebtor, ase o SHL RRS HLG SR PRRY LAMS A complete list of claims entitled to priority, listed separately by type of priority, is to be set forth on the sheets provided. nly holders of unsecured claims entitled to priority should be listed in this schedule. n the boxes provided on the attached sheets, state the name, mailing address, including zip code, and last four digits of the account number, if any, of all entities holding priority claims against the debtor or the property of the debtor, as of the date of the filing of the petition. se a separate continuation sheet for each type of priority and label each with the type of priority. he complete account number of any account the debtor has with the creditor is useful to the trustee and the creditor and may be provided if the debtor chooses to do so. f a minor child is a creditor, state the child's initials and the name and address of the child's parent or guardian, such as "A.B., a minor child, by John oe, guardian." o not disclose the child's name. See, 11.S and Fed. R. Bankr. P. 1007(m). f any entity other than a spouse in a joint case may be jointly liable on a claim, place an "X" in the column labeled "odebtor," include the entity on the appropriate schedule of creditors, and complete Schedule Hodebtors. f a joint petition is filed, state whether the husband, wife, both of them, or the marital community may be liable on each claim by placing an "H," "W," "J," or "" in the column labeled "Husband, Wife, Joint, or ommunity." f the claim is contingent, place an "X" in the column labeled "ontingent." f the claim is unliquidated, place an "X" in the column labeled "nliquidated." f the claim is disputed, place an "X" in the column labeled "isputed." (You may need to place an "X" in more than one of these three columns.) Report the total of claims listed on each sheet in the box labeled "Subtotals" on each sheet. Report the total of all claims listed on this Schedule in the box labeled "otal" on the last sheet of the completed schedule. Report this total also on the Summary of Schedules. Report the total of amounts entitled to priority listed on each sheet in the box labeled "Subtotals" on each sheet. Report the total of all amounts entitled to priority listed on this Schedule in the box labeled "otals" on the last sheet of the completed schedule. ndividual debtors with primarily consumer debts report this total also on the Statistical Summary of ertain Liabilities and Related ata. Report the total of amounts not entitled to priority listed on each sheet in the box labeled "Subtotals" on each sheet. Report the total of all amounts not entitled to priority listed on this Schedule in the box labeled "otals" on the last sheet of the completed schedule. ndividual debtors with primarily consumer debts report this total also on the Statistical Summary of ertain Liabilities and Related ata. heck this box if debtor has no creditors holding unsecured priority claims to report on this Schedule. YPS F PRRY LAMS (heck the appropriate box(es) below if claims in that category are listed on the attached sheets) omestic support obligations laims for domestic support that are owed to or recoverable by a spouse, former spouse, or child of the debtor, or the parent, legal guardian, or responsible relative of such a child, or a governmental unit to whom such a domestic support claim has been assigned to the extent provided in 11.S.. 507(a)(1). xtensions of credit in an involuntary case laims arising in the ordinary course of the debtor's business or financial affairs after the commencement of the case but before the earlier of the appointment of a trustee or the order for relief. 11.S.. 507(a)(3). Wages, salaries, and commissions Wages, salaries, and commissions, including vacation, severance, and sick leave pay owing to employees and commissions owing to qualifying independent sales representatives up to $11,725* per person earned within 180 days immediately preceding the filing of the original petition, or the cessation of business, whichever occurred first, to the extent provided in 11.S.. 507(a)(4). ontributions to employee benefit plans Money owed to employee benefit plans for services rendered within 180 days immediately preceding the filing of the original petition, or the cessation of business, whichever occurred first, to the extent provided in 11.S.. 507(a)(5). ertain farmers and fishermen laims of certain farmers and fishermen, up to $5,775* per farmer or fisherman, against the debtor, as provided in 11.S.. 507(a)(6). eposits by individuals laims of individuals up to $2,600* for deposits for the purchase, lease, or rental of property or services for personal, family, or household use, that were not delivered or provided. 11.S.. 507(a)(7). axes and certain other debts owed to governmental units axes, customs duties, and penalties owing to federal, state, and local governmental units as set forth in 11.S.. 507(a)(8). ommitments to maintain the capital of an insured depository institution laims based on commitments to the F, R, irector of the ffice of hrift Supervision, omptroller of the urrency, or Board of Governors of the Federal Reserve System, or their predecessors or successors, to maintain the capital of an insured depository institution. 11.S (a)(9). laims for death or personal injury while debtor was intoxicated laims for death or personal injury resulting from the operation of a motor vehicle or vessel while the debtor was intoxicated from using alcohol, a drug, or another substance. 11.S.. 507(a)(10). * Amount subject to adjustment on 4/01/13, and every three years thereafter with respect to cases commenced on or after the date of adjustment. 3 continuation sheets attached Software opyright (c) H RPRA