Beach Community Bancshares, Inc. filed a plan of reorganization with related disclosure statement in the US Bankruptcy Court on August 30, 2018. As per the plan filed, administrative claims of $0.03 million, priority tax claims and professional fees of $0.32 million will be paid in full in cash. Other priority claims and secured claims will be reinstated. The Debtor is unaware of any secured claims or other priority claims. Allowed unsecured claims shall receive, in full and final satisfaction, settlement, release, and discharge of, and in exchange for, such allowed unsecured claim, their pro rata share of the net sale proceeds and the liquidation dividend. The claims in this class consist of the claims held by TruPS holders of $14.69 million and the contingent and disputed claim of Presidio in the amount of $0.3 million. Preferred stock interests, common stocks interests and warrants shall be cancelled. The plan will be funded through cash in hand and sale of assets.