Professional Documents
Culture Documents
Chapter 11
(Jointly Administered)
Hearing Date: May 25, 2010 at 10:00 a.m. (E.T.)
The Debtors, along with the last four digits of their federal tax identification numbers, are:
Crdentia Corp.(5701), ATS Universal, LLC (3980), Baker Anderson Christie, Inc. (3631), CRDE
Corp. (2509), GHS Acquisition Corporation (9736), Health Industry Professionals, LLC (4246),
HIP Holding, Inc. (3468), MP Health Corp. (4403), New Age Staffing, Inc. (1214) and Nurses
Network, Inc. (6291). The Debtors mailing address for purposes of these cases is 1964 Howell
Branch Road, Ste. 206, Winter Park, Florida 32792.
2
Capitalized terms not herein defined shall have the meaning ascribed to them in the Plan.
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Schedule 1:
Schedule 2:
Schedule 3:
Schedule 4:
Schedule 5:
Schedule 6:
Schedule 7:
Liquidation Analysis
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SCHEDULE 1
Form of Restated Certificate of Incorporation For Crdentia Corp.
AMENDED AND RESTATED CERTIFICATE OF
INCORPORATION
OF
CRDENTIA CORP.
I, the undersigned, for the purpose of restating the certificate of
incorporation of Crdentia Corp. (hereinafter referred to as the Corporation),
originally incorporated on November 10, 1997, under the name of Digivision
International, Ltd. pursuant to the General Corporation Law of the State of
Delaware (the DGCL), do hereby certify that the Corporation has duly adopted
the following Sixth Amended and Restated Certificate of Incorporation:
This Amended and Restated Certificate of Incorporation (this Certificate
of Incorporation) restates, integrates and further amends the Certificate of
Incorporation of the Corporation as heretofore amended or supplemented under
the DGCL pursuant to the Chapter 11 Plan of Reorganization (as it may be
amended from time to time, the Plan) for Crdentia Corp., confirmed by the
United States Bankruptcy Court for the District of Delaware (Bankruptcy
Court) in the case under chapter 11 of title 11 of the United States Code, as
amended from time to time, (Bankruptcy Code), commenced by the Debtor (as
defined in the Plan) in the Bankruptcy Court and styled In re Crdentia Corp.,
No.10-10926(BLS). This Certificate of Incorporation has been duly adopted in
accordance with Section 303 of the DGCL, pursuant to the authority granted to the
Corporation under Section 303 of the DGCL to put into effect and carry out the
Plan with the approval of the Bankruptcy Court under the Bankruptcy Code.
The text of the Certificate of Incorporation as heretofore, amended or
supplemented is hereby restated and further amended to read in its entirety as
follows:
FIRST: The name of the Corporation is Crdentia Corp.
SECOND: The address of the Corporations registered office in the State
of Delaware is 2711 Centerville Road, Suite 400, City of Wilmington, County of
New Castle, Delaware 19808. The name of its registered agent at such address is
CorpAmerica, Inc.
THIRD: The purpose of the Corporation is to engage in any lawful act or
activity for which corporations may be organized under the DGCL.
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_____________________
Name:
Title
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SCHEDULE 2
Form of Restated Bylaws For Crdentia Corp.
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ARTICLE 1
OFFICES
Section 1.01. Registered Office. The registered office of the Corporation
shall be in the City of Wilmington, County of New Castle, State of Delaware.
Section 1.02. Other Offices. The Corporation may also have offices at
such other places both within and without the State of Delaware as the Board of
Directors may from time to time determine or the business of the Corporation
may require.
Section 1.03. Books. The books of the Corporation may be kept within or
without the State of Delaware as the Board of Directors may from time to time
determine or the business of the Corporation may require.
ARTICLE 2
MEETINGS OF STOCKHOLDERS
Section 2.01. Time and Place of Meetings. All meetings of stockholders
shall be held at such place, either within or without the State of Delaware, on such
date and at such time as may be determined from time to time by the Board of
Directors (or the Chairman in the absence of a designation by the Board of
Directors).
Section 2.02. Annual Meetings. Unless directors are elected by written
consent in lieu of an annual meeting as permitted by the General Corporation Law
of the State of Delaware as the same exists or may hereafter be amended
(Delaware Law), an annual meeting of stockholders, commencing with the
year 2011, shall be held for the election of directors and to transact such other
business as may properly be brought before the meeting. Stockholders may,
unless the amended and restated certificate of incorporation of the Corporation
(the Certificate of Incorporation) otherwise provides, act by written consent to
elect directors.
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consent or consents in writing, setting forth the action so taken, shall be signed by
the holders of outstanding capital stock having not less than the minimum number
of votes that would be necessary to authorize or take such action at a meeting at
which all shares entitled to vote thereon were present and voted and shall be
delivered to the Corporation by delivery to its registered office in Delaware, its
principal place of business, or an officer or agent of the Corporation having
custody of the book in which proceedings of meetings of stockholders are
recorded. Delivery made to the Corporations registered office shall be by hand
or by certified or registered mail, return receipt requested. Prompt notice of the
taking of the corporate action without a meeting by less than unanimous written
consent shall be given to those stockholders who have not consented in writing
and who, if the action had been taken at a meeting, would have been entitled to
notice of the meeting if the record date for such meeting had been the date that
written consents signed by a sufficient number of stockholders to take the action
were delivered to the Corporation as provided in Section 2.08(b).
(b)
Every written consent shall bear the date of signature of each
stockholder who signs the consent, and no written consent shall be effective to
take the corporate action referred to therein unless, within 60 days of the earliest
dated consent delivered in the manner required by this section and Delaware Law
to the Corporation, written consents signed by a sufficient number of holders to
take action are delivered to the Corporation by delivery to its registered office in
Delaware, its principal place of business or an officer or agent of the Corporation
having custody of the book in which proceedings of meetings of stockholders are
recorded. Delivery made to the Corporations registered office shall be by hand
or by certified or registered mail, return receipt requested.
Section 2.09. Organization. At each meeting of stockholders, the Chief
Executive Officer, if one shall have been appointed, or in the Chief Executive
Officers absence or if one shall not have been elected, the Chairman, shall act
as chairman of the meeting. The Secretary (or in the Secretarys absence or
inability to act, the person whom the chairman of the meeting shall appoint
secretary of the meeting) shall act as secretary of the meeting and keep the
minutes thereof.
Section 2.10. Order of Business. The order of business at all meetings of
stockholders shall be as determined by the chairman of the meeting.
ARTICLE 3
DIRECTORS
Section 3.01. General Powers. Except as otherwise provided in Delaware
Law or the Certificate of Incorporation, the business and affairs of the Corporation
shall be managed by or under the direction of the Board of Directors.
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Section 3.02. Number, Election and Term Of Office. The initial number
of directors, which shall constitute the whole Board shall be one. Thereafter, the
number of directors which shall constitute the whole Board shall be fixed from
time to time by resolution of the Board of Directors but shall not be less than
one or more than nine. The directors shall be elected at the annual meeting of the
stockholders by written ballot, except as provided in Section 2.02 and Section 3.12
herein, and each director so elected shall hold office until such directors
successor is elected and qualified or until such directors earlier death,
resignation or removal. Directors need not be stockholders.
Section 3.03. Quorum and Manner of Acting. Unless the Certificate of
Incorporation or these Bylaws require a greater number, a majority of the total
number of directors shall constitute a quorum for the transaction of business, and
the affirmative vote of a majority of the directors present at a meeting at which a
quorum is present shall be the act of the Board of Directors. When a meeting is
adjourned to another time or place (whether or not a quorum is present), notice
need not be given of the adjourned meeting if the time and place thereof are
announced at the meeting at which the adjournment is taken. At the adjourned
meeting, the Board of Directors may transact any business which might have been
transacted at the original meeting. If a quorum shall not be present at any
meeting of the Board of Directors the directors present thereat shall adjourn the
meeting, from time to time, without notice other than announcement at the
meeting, until a quorum shall be present, the directors present thereat may
reschedule the meeting for another time or place and at such rescheduled meeting,
the Board of Directors may transact any business which might have been
transacted at the original meeting.
Section 3.04. Time and Place of Meetings. The Board of Directors shall
hold its meetings at such place, either within or without the State of Delaware,
and at such time as may be determined from time to time by the Board of
Directors (or the Chairman in the absence of a determination by the Board of
Directors).
Section 3.05. Annual Meeting. The Board of Directors shall meet for the
purpose of organization, the election of officers and the transaction of other
business, as soon as practicable after each annual meeting of stockholders, on the
same day and at the same place where such annual meeting shall be held. Notice
of such meeting need not be given. In the event such annual meeting is not so
held, the annual meeting of the Board of Directors may be held at such place
either within or without the State of Delaware, on such date and at such time as
shall be specified in a notice thereof given as hereinafter provided in Section 3.07
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ARTICLE 4
OFFICERS
Section 4.01. Principal Officers. The principal officers of the
Corporation shall be a Chief Executive Officer, Chief Financial Officer and a
Secretary. The Corporation may also have such other principal officers, including
one or more vice presidents, treasurers and controllers, as the Board may in its
discretion appoint. Except as provided by Delaware Law, one person may hold the
offices and perform the duties of any two or more of said offices.
Section 4.02. Election, Term of Office and Remuneration. The principal
officers of the Corporation shall be elected annually by the Board of Directors at
the annual meeting thereof. Each such officer shall hold office until his or her
successor is elected and qualified, or until his or her earlier death, resignation or
removal. The remuneration of all officers of the Corporation shall be fixed by the
Board of Directors. Any vacancy in any office shall be filled in such manner as
the Board of Directors shall determine.
Section 4.03. Subordinate Officers. In addition to the principal officers
enumerated in Section 4.01 herein, the Corporation may have one or more
assistant treasurers, assistant secretaries and assistant controllers and such other
subordinate officers, agents and employees as the Board of Directors may deem
necessary, each of whom shall hold office for such period as the Board of Directors
may from time to time determine. The Board of Directors may delegate to any
principal officer the power to appoint and to remove any such subordinate officers,
agents or employees.
Section 4.04. Removal. Except as otherwise permitted with respect to
subordinate officers, any officer may be removed, with or without cause, at any
time, by resolution adopted by the Board of Directors.
Section 4.05. Resignations. Any officer may resign at any time by giving
written notice to the Board of Directors (or to a principal officer if the Board of
Directors has delegated to such principal officer the power to appoint and to
remove such officer). The resignation of any officer shall take effect upon receipt
of notice thereof or at such later time as shall be specified in such notice; and
unless otherwise specified therein, the acceptance of such resignation shall not be
necessary to make it effective.
Section 4.06. Chief Executive Officer. The Chief Executive Officer shall,
subject to the control of the Board of Directors, have general supervision, direction
and control of the business and the officers of the Corporation. The Chief
Executive Officer shall preside at all meeting of the stockholders, and, in the
absence or nonexistence of a Chairman of the Board, the Chief Executive Officer
shall preside at all meetings of the Board of Directors. The Chief Executive
Officer shall have the general powers and duties of management usually vested in
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ARTICLE 5
CAPITAL STOCK
Section 5.01. Uncertificated Shares. The shares of the Corporation shall
be uncertificated shares, provided that the Board of Directors of the Corporation
may provide by resolution or resolutions that some or all of any or all classes or
series of its stock shall be certificated shares. Except as otherwise provided by
law, the rights and obligations of the holders of uncertificated shares and the
rights and obligations of the holders of shares represented by certificates of the
same class and series shall be identical. Every holder of stock represented by
certificates shall be entitled to have a certificate signed by, or in the name of the
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10
Corporation by the Chairman, or the Chief Executive Officer or the President or Vice
President, and by the Chief Financial Officer or Treasurer or the Secretary of the
Corporation representing the number of shares registered in certificate form.
Any or all of the signatures on the certificate may be a facsimile. In case any
officer, transfer agent or registrar who has signed or whose facsimile signature has
been placed upon a certificate shall have ceased to be such officer, transfer agent or
registrar before such certificate is issued, it may be issued by the Corporation with
the same effect as if such person were such officer, transfer agent or registrar at
the date of issue. The Corporation shall not have power to issue a certificate in
bearer form.
The Corporation may issue partly paid shares. In such case, a notation on
the Corporations books shall be made, or, in the case of an actual certificate
issued to represent any such partly paid shares, a notation on the face or back of
such certificate, the total amount of the consideration to be paid therefor, and the
amount paid thereon shall be specified.
If the Corporation shall be authorized to issue more than one class of stock
or more than one series of any class , the powers, designations, preferences and
relative, participating, optional or other special rights of each class of stock or
series thereof and the qualifications, limitations or restrictions of such preferences
and/or rights shall be set forth in full or summarized on the face or back of the
certificate, which the Corporation shall issue to represent such class or series of
stock, provided that, except as otherwise provided in Section 202 of the General
Corporation Law of the State of Delaware, in lieu of the foregoing requirements,
there may be set forth o the face or aback of the certificate, which the Corporation
shall issue to represent such class or series of stock, a statement that the
Corporation will furnish without charge to each stockholder who so requests the
powers, designations, preferences and relative, participating, optional or other
special rights of each class of stock or series thereof and the qualifications,
limitations or restrictions of such preferences and/or rights.
Section 5.02. Transfer Of Shares. Shares of the stock of the Corporation
may be transferred on the record of stockholders of the Corporation by the
holder thereof or by such holders duly authorized attorney upon surrender of a
certificate therefor properly endorsed or upon receipt of proper transfer instructions
from the registered holder of uncertificated shares or by such holders duly
authorized attorney and upon compliance with appropriate procedures for
transferring shares in uncertificated form, unless waived by the Corporation.
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11
Section 5.03. Authority for Additional Rules Regarding Transfer. The Board of
Directors shall have the power and authority to make all such rules and regulations as they may
deem expedient concerning the issue, transfer and registration of certificated or uncertificated
shares of the stock of the Corporation, as well as for the issuance of new certificates in lieu of those
which may be lost or destroyed, and may require of any stockholder requesting replacement of lost
or destroyed certificates, bond in such amount and in such form as they may deem expedient to
indemnify the Corporation, and/or the transfer agents, and/or the registrars of its stock against
any claims arising in connection therewith.
Section 5.04. Registered Stockholders. The Corporation shall be entitled to recognize
the exclusive right of a person registered on its books as the owner of shares to receive
dividends, and to vote as such owner, and to hold liable for calls and assessments a person
registered on its books as the owner of shares and shall not be bound to recognize any
equitable or other claim to or interest in such share or shares on the part of any other person,
whether or not it shall have express or other notice thereof, except as otherwise provided by
the laws of Delaware.
Section 5.03. Lost Certificates. The Board of Directors may direct a new certificate or
certificates to be issued in place of any certificate or certificates theretofore issued by the
Corporation allege to have been lost, stolen or destroyed, on the making of an affidavit of
that fact by the person claiming the certificate of stock to be lost, stolen or destroyed. When
authorizing such issue of a new certificate r certificates, the Board of Directors may, in its
discretion and a condition precedent to the issuance thereof, require the owner of such lost,
stolen or destroyed certificate or certificates, or the owners legal representative, to advertise
the same in such manner as it shall require and/or to give the Corporation a bond in such sum
as it may direct as indemnity against any claim that may be made against the Corporation wit
respect to the certificate alleged to have been lost, stolen or destroyed.
ARTICLE 6
INDEMNIFICATION
Section 6.01. Indemnification of Directors and Executive Officers. The Corporation shall indemnify
its Directors and executive officers to the fullest extent not prohibited by Delaware Law; provided,
however, that the Corporation may limit the extent of such indemnification by individual contracts with its
Directors and executive officers; and, provided, further, that the Corporation shall not be required to indemnify
any Director or executive officer in connection with any proceeding (or part thereof) initiated by such
person or any proceeding by such person against the Corporation or its Directors, officers, employees or
other agents unless (a) such indemnification is expressly required to be made by law, (b) the proceeding
was authorized by the Board of Directors of the Corporation, and (c) such indemnification is provided by
the Corporation, in its sole discretion, pursuant to the powers vested in the Corporation under Delaware
Law.
Section 6.02. Indemnification of Other Officers, Employees and Other Agents. The Corporation
shall have power to indemnify its other officers, employees and other agents to the fullest extent permitted by
Delaware Law.
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Corporation and the Director or officer. Any right to indemnification or advances granted by these
Bylaws to a Director or officer shall be enforceable by or on behalf of the person holding such right in any
court of competent jurisdiction if (a) the claim for indemnification or advances is denied, in whole or in part,
or (b) no disposition of such claim is made within ninety (90) days of request therefor. The claimant in
such enforcement action, if successful in whole or in part, shall be entitled to be paid also the expense of
prosecuting his or her claim. The Corporation shall be entitled to raise as a defense to any such action that
the claimant has not met the standards of conduct that make it permissible under Delaware Law for the
Corporation to indemnify the claimant for the amount claimed. Neither the failure of the Corporation
(including its Board of Directors, independent legal counsel or its stockholders) to have made a
determination prior to the commencement of such action that indemnification of the claimant is proper in
the circumstances because he or she has met the applicable standard of conduct set forth in Delaware Law,
nor an actual determination by the Corporation (including its Board of Directors, independent legal counsel
or its stockholders) that the claimant has not met such applicable standard of conduct, shall be a defense to the
action or create a presumption that the claimant has not met the applicable standard of conduct.
Section 6.06. Non-Exclusivity of Rights. The rights conferred on any person by these Bylaws
shall not be exclusive of any other right which such person may have or hereafter acquire under any
statute, provision of the Certificate of Incorporation, as amended from time to time, Bylaws, agreement,
vote of stockholders or disinterested Directors or otherwise, both as to action in such person's official capacity
and as to action in another capacity while holding office. The Corporation is specifically authorized to
enter into individual contracts with any or all of its Directors, officers, employees or agents respecting
indemnification and advances, to the fullest extent not prohibited by Delaware Law.
Section 6.07. Survival of Rights. The rights conferred on any person by these Bylaws shall continue as
to a person who has ceased to be a Director, officer, employee or other agent and shall inure to the benefit
of the heirs, executors and administrators of such a person.
Section 6.08, Insurance. To the fullest extent permitted by Delaware Law, the Corporation, upon
approval by the Board of Directors, may purchase insurance on behalf of any person required or permitted
to be indemnified pursuant to these Bylaws.
Section 6.09. Amendments. Any repeal or modification of these Bylaws shall only be prospective
and shall not affect the rights under these Bylaws in effect at the time of the alleged occurrence of any
action or omission to act that is the cause of any proceeding against any agent of the Corporation.
Section 6.10. Saving Clause. If these Bylaws or any portion hereof shall be invalidated on any
ground by any court of competent jurisdiction, then the Corporation shall nevertheless indemnify each
Director and officer to the full extent not prohibited by any applicable portion of these Bylaws that shall not
have been invalidated, or by any other applicable law.
Section 6.11. Certain Definitions. For the purposes of these Bylaws, the following definitions shall
apply:
(a)
The term "proceeding" shall be broadly construed and shall include, without limitation, the
investigation, preparation, prosecution, defense, settlement, arbitration and appeal of, and the giving of the
testimony in, any threatened, pending or completed action, suit or proceeding, whether civil, criminal,
administrative or investigative.
(b)
The term "expenses" shall be broadly construed and shall include, without limitation, court
costs, attorneys' fees, witness fees, fines, including ERISA excise taxes or penalties and amounts
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paid in settlement or judgment and any other costs and expenses of any nature or kind incurred in
connection with any proceeding.
(c)
The term the "Corporation" shall include, in addition to the resulting corporation, any
constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger
which, if its separate existence had continued, would have had power and authority to indemnify its
Directors, officers, and employees or agents, so that any person who is or was a Director, officer, employee or
agent of such constituent corporation, or is or was serving at the request of such constituent corporation
as a Director, officer, employee or agent of another corporation, partnership, joint venture, trust or other
enterprise, shall stand in the same position under the provisions of these Bylaws with respect to the
resulting or surviving corporation as such person would have with respect to such constituent corporation if
its separate existence had continued.
(d)
References to a "Director," "officer," "employee," or "agent" of the Corporation shall include,
without limitation, situations where such person is serving at the request of the Corporation as a Director,
officer, employee, trustee or agent of another corporation, partnership, joint venture, trust or other
enterprise.
(e)
References to "other enterprises" shall include employee benefit plans; references to
"fines" shall include any excise taxes assessed on a person with respect to an employee benefit plan; and
references to "serving at the request of the Corporation" shall include any service as a Director, officer,
employee or agent of the Corporation which imposes duties on, or involves services by, such Director,
officer, employee, or agent with respect to an employee benefit plan, its participants, or beneficiaries;
and a person who acted in good faith and in a manner such person reasonably believed to be in the
interest of the participants and beneficiaries of an employee benefit plan shall be deemed to have
acted in a manner "not opposed to the best interests of the Corporation" as referred to in these Bylaws.
ARTICLE 7
GENERAL PROVISIONS
Section 7.01. Fixing the Record Date.
(a)
In order that the Corporation may determine the stockholders entitled to notice of
or to vote at any meeting of stockholders or any adjournment thereof, the Board of Directors may
fix a record date, which record date shall not precede the date upon which the resolution
fixing the record date is adopted by the Board of Directors, and which record date shall not be
more than 60 nor less than 10 days before the date of such meeting. If no record date is fixed
by the Board of Directors, the record date for determining stockholders entitled to notice of
or to vote at a meeting of stockholders shall be at the close of business on the day next preceding
the day on which notice is given, or, if notice is waived, at the close of business on the day next
preceding the day on which the meeting is held. A determination of stockholders of record
entitled to notice of or to vote at a meeting of stockholders shall apply to any adjournment of
the meeting; provided that the Board of Directors may fix a new record date for the adjourned
meeting.
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(b)
In order that the Corporation may determine the stockholders entitled to consent
to corporate action in writing without a meeting, the Board of Directors may fix a record date,
which record date shall not precede the date upon, which the resolution fixing the record date is
adopted by the Board of Directors, and which date shall not be more than 10 days after the date
upon which the resolution fixing the record date is adopted by the Board of Directors. If no
record date has been fixed by the Board of Directors, the record date for determining
stockholders entitled to consent to corporate action in writing without a meeting, when no prior
action by the Board of Directors is required by Delaware Law, shall be the first date on which a
signed written consent setting forth the action taken or proposed to be taken is delivered to the
Corporation by delivery to its registered office in Delaware, its principal place of business, or an
officer or agent of the Corporation having custody of the book in which proceedings of
meetings of stockholders are recorded. Delivery made to the Corporations registered office
shall be by hand or by certified or registered mail, return receipt requested. If no record date
has been fixed by the Board of Directors and prior action by the Board of Directors is required
by Delaware Law, the record date for determining stockholders entitled to consent to
corporate action in writing without a meeting shall be at the close of business on the day on
which the Board of Directors adopts the resolution taking such prior action.
(c)
In order that the Corporation may determine the stockholders entitled to receive
payment of any dividend or other distribution or allotment of any rights or the stockholders
entitled to exercise any rights in respect of any change, conversion or exchange of stock, or for
the purpose of any other lawful action, the Board of Directors may fix a record date, which record
date shall not precede the date upon which the resolution fixing the record date is adopted, and
which record date shall be not more than 60 days prior to such action. If no record date is
fixed, the record date for determining stockholders for any such purpose shall be at the close of
business on the day on which the Board of Directors adopts the resolution relating thereto.
Section 7.02. Dividends. Subject to limitations contained in Delaware Law and the
Certificate of Incorporation, the Board of Directors may declare and pay dividends upon the
shares of capital stock of the Corporation, which dividends may be paid either in cash, in
property or in shares of the capital stock of the Corporation.
Section 7.03. Fiscal Year. The fiscal year of the Corporation shall be fixed by resolution
of the Board of Directors.
Section 7.04. Corporate Seal. The corporate seal shall have inscribed thereon the name of
the Corporation, the year of its organization and the words Corporate Seal, Delaware. The seal
may be used by causing it or a facsimile thereof to be impressed, affixed or otherwise
reproduced.
Section 7.05. Voting of Stock Owned by the Corporation. The Board of Directors may
authorize any person, on behalf of the Corporation, to attend, vote at and grant proxies to be used
at any meeting of stockholders of any corporation (except this Corporation) in which the
Corporation may hold stock.
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Section 7.06. Execution of Corporate Instruments. All checks and demands for money
and notes of the Corporation shall be signed by such officer or officers or such other person or
persons ask the Board of Directors may from time to time designate.
Section 7.07. Amendments. Except as otherwise provided in the Certificate of
Incorporation, these Bylaws or any of them, may be altered, amended or repealed, or new Bylaws
may be made, by the stockholders entitled to vote thereon at any annual or special meeting
thereof or by the Board of Directors.
May , 2010
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SCHEDULE 3
Schedule of Crdentias Initial Board Member and Officers
Director:
Robert OSullivan
Officers:
Joe Raymond, CEO
Rebecca Irish, CFO
Randall Turnbull, VP Clinical Compliance
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SCHEDULE 4
Post-Effective Date Management Compensation Contracts, if any
]
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SCHEDULE 5
Schedule of Executory Contracts and unexpired Leases to be Assumed
Along with Assumption Cure Costs
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Crdentia
Executory Contract and Unexpired Lease Assumption Schedule
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Bank Account
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VERIZON FLORIDA LLC
Trade Vendor
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SCHEDULE 6
Pro Forma Post-Effective Date Balance Sheet and Cash Flow Projections
{BAY:01542044v3}
SCHEDULE 6
Pro Forma Post-Effective Date Balance Sheet and Cash Flow Projections
{BAY:01542044v3}
BALANCE SHEET
ASSETS
CURRENT ASSETS
Unrestricted Cash and Equivalents
Accounts Receivable, net of allowance for doubtful accounts
Other Current Assets
TOTAL CURRENT ASSETS
PROPERTY AND EQUIPMENT
Furniture, Fixtures and Office Equipment
Leasehold Improvements
Less Accumulated Depreciation
TOTAL PROPERTY & EQUIPMENT
OTHER ASSETS
Intangible and other assets
TOTAL OTHER ASSETS
TOTAL ASSETS
PRE-CONFIRMATION
ESTIMATED
6/1/2010
$
65,000
2,500,000
500,000
3,065,000
POST-CONFIRMATION
PRO FORMA
ADJUSTMENTS
6/1/2010
$
65,000
2,500,000
500,000
3,065,000
1,375,000
54,914
(1,263,822)
166,092
1,375,000
54,914
(1,263,822)
166,092
3,621,312
3,621,312
$
6,852,404
50,000
80,000
400,000
322,000
113,000
69,250
(199,096)
(199,096)
3,422,216
3,422,216
(199,096) $
6,653,308
50,000
80,000
400,000
522,000
113,000
1,165,000
200,000
(69,250)
1,034,250
TOTAL LIABILITIES
OWNER EQUITY
Capital Stock
Additional Paid-In Capital
Owner's Equity Account - Post-petition
Retained Earnings - Pre-Petition
Retained Earnings - Post-Petition
Adjustments to Owner Equity (attach schedule)
Post-petition Contributions (Distributions) (Draws) (attach schedule)
NET OWNER EQUITY
TOTAL LIABILITIES AND OWNERS' EQUITY
130,750
19,081,955
250,000
5,471,809
(1,292,972)
23,510,792
(19,081,955)
(250,000)
(5,471,809)
1,292,972
(23,510,792)
24,545,042
(23,380,042)
1,165,000
5,451
148,372,666
(165,207,326)
(863,429)
(5,451)
(148,372,666)
5,488,308
165,207,326
863,429
(17,692,638)
23,180,946
5,488,308
5,488,308
6,852,404
(199,096) $
6,653,308
Actual
Total for
Partial Month
3/31/2010
75,253
Projected
Total for
Month ended
4/30/2010
$
38,335
Projected
Total for
Month ended
5/31/2010
$
59,000
Projected
Total for
Month ended
6/30/2010
$
Projected
Total for
Month ended
7/31/2010
102,540
80
Projected
Total for
Month ended
8/31/2010
$
44,620
Projected
Total for
Month ended
9/30/2010
$
26,231
Projected
Total for
Month ended
10/31/2010
$
32,842
Projected
Total for
Month ended
11/30/2010
$
14,453
Cash Receipts:
Receipts - See collections below
Miscellaneous deposits
Cash In
400,000
1,595,000
1,550,000
1,650,000
1,650,000
1,600,000
1,675,000
-
1,700,000
-
1,700,000
-
400,000
1,595,000
1,550,000
1,650,000
1,650,000
1,632,071
1,707,071
1,732,071
1,732,071
Cash Disbursements:
WIRES/ACH DIRECT DEBITS:
Financing, Advances and Other
Bank Service Charge
Restructuring Costs
Other wires / ACH/ Transfers
Health / Dental / Life Insurance claims
Financing, Advances and Other subtotal
Payroll
Payroll
Daily Pay
401(k) AUTODEBIT
Payroll Fees
Payroll subtotal
Checks
Workers Comp Premium
D&O Insurance
General Liability/Other Insurance
Office Rent
Other Accounts Payable
Checks subtotal
(224)
(59,678)
(59,902)
(1,500)
(250,000)
(55,000)
(306,500)
(1,500)
(1,500)
(1,500)
(1,500)
(1,500)
(59,678)
(131,678)
(1,500)
(50,000)
(55,000)
(106,500)
(55,000)
(56,500)
(50,000)
(51,500)
(50,000)
(51,500)
(50,000)
(51,500)
(50,000)
(51,500)
(192,338)
(1,200,000)
(52,600)
(3,000)
(1,255,600)
(1,200,000)
(51,000)
(3,000)
(1,254,000)
(1,250,000)
(47,000)
(3,000)
(1,300,000)
(1,300,000)
(50,000)
(3,000)
(1,353,000)
(1,350,000)
(50,000)
(3,000)
(1,403,000)
(1,400,000)
(50,000)
(3,000)
(1,453,000)
(1,450,000)
(50,000)
(3,000)
(1,503,000)
(1,450,000)
(50,000)
(3,000)
(1,503,000)
(64,828)
(119,850)
(184,678)
(18,000)
(3,460)
(24,500)
(141,097)
(187,057)
(18,000)
(3,460)
(24,500)
(100,000)
(145,960)
(18,000)
(3,460)
(24,500)
(100,000)
(145,960)
(18,000)
(3,460)
(50,000)
(24,500)
(100,000)
(195,960)
(18,000)
(3,460)
(50,000)
(24,500)
(100,000)
(195,960)
(18,000)
(3,460)
(50,000)
(24,500)
(100,000)
(195,960)
(18,000)
(3,460)
(50,000)
(24,500)
(100,000)
(195,960)
(50,000)
(24,500)
(100,000)
(174,500)
(436,918)
(1,574,335)
(1,506,460)
(1,752,460)
(1,605,460)
(1,650,460)
(1,700,460)
(1,750,460)
(1,729,000)
(192,338)
Cash Out
Ending Cash Balances
ACTUAL
(2,000)
(70,000)
38,335
59,000
102,540
80
44,620
26,231
32,842
14,453
17,524
654,960
400,000
254,960
1,167,735
1,595,000
(427,265)
1,250,000
1,550,000
(300,000)
1,350,000
1,650,000
(300,000)
1,450,000
1,650,000
(200,000)
1,550,000
1,600,000
(50,000)
1,650,000
1,675,000
(25,000)
1,700,000
1,700,000
-
1,700,000
1,700,000
-
254,960
(172,305)
(472,305)
(772,305)
(972,305)
(1,022,305)
(1,047,305)
(1,047,305)
(1,047,305)
Projected
Total for
Month ended
12/31/2010
$
17,524
1,750,000
1,782,071
(1,500)
(142,000)
(50,000)
(193,500)
(1,350,000)
(60,000)
(3,000)
(1,413,000)
(50,000)
(24,500)
(100,000)
(174,500)
(1,781,000)
$
18,594
1,750,000
1,750,000
(1,047,305)
SCHEDULE 7
Liquidation Analysis
{BAY:01542044v3}
! " # #
$ $ % & % $ % '" ( " )*
+)!%!"#) %
% # %, ) %# !
!" ) %
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$ $ %# .
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*
LIQUIDATION ANALYSIS
3/31/2010 Notes
38,335
(1)
2,414,244
(2)
580,985
(3)
3,033,564
169,210
3,428,082
253,350
3,850,642
6,884,206
(4)
(5)
(3)
PERCENT RECOVERY
LOW
HIGH
100%
100%
70%
90%
40%
60%
15%
5%
5%
RECOVERY AMOUNT
LOW
HIGH
38,335
38,335
1,689,971
2,172,820
232,394
348,591
1,960,700
2,559,746
25%
20%
10%
$
25,382
171,404
12,668
209,453
2,170,153
42,303
685,616
25,335
753,254
3,313,000
(6)
(95,000)
(15,000)
(36,000)
(146,000)
3,033,000
(257,524)
19,081,955
18,824,431
(7)
2,024,153
(205,000)
(27,000)
(48,000)
(280,000)
(7)
2,024,153 $
10.8%
$
0%
3,033,000
16.1%
0%
(7)
$
0%
0%