OFFICE OF THE UNITED STATES TRUSTEE - REGION 3 POST-CONFIRMATION QUARTERLY SUMMARY REPORT

This Report is to be submitted for all bank accounts that are presently maintained by the post confirmation debtor.

Debtor's Name: FastShip, Inc. et al (1) Bankruptcy Number: 12-10968 (BLS) Date of Confirmation: June 28, 2012 Reporting Period (month/year): July 1 - September 20, 2012 Beginning Cash Balance: All receipts received by the debtor: Cash Sales: Collection of Accounts Receivable:

Bank: Wells Fargo (2) Account Number: 7684241768 Account Type: Business checking

$ 159,639.41

$ $ $ $ $ $ $

4,812.38 4,812.38 $ 164,451.79

Proceeds from Litigation (settlement or otherwise): Sale of Debtor's Assets: Capital Infusion pursuant to the Plan: Other Total of cash received: Total of cash available:

Less all disbursements or payments (including payments made under the confirmed plan) made by the Debtor: Disbursements made under the plan, excluding the administrative claims of bankruptcy professionals: Disbursements made pursuant to the administrative claims of bankruptcy professionals: All other disbursements made in the ordinary course: Total Disbursements Ending Cash Balance

46,599.89

$ 102,439.58 $ $ 149,039.47 $ 15,412.32

Pursuant to 28 U.S.C. Section 1746(2), I hereby declare under penalty of perjury that the foregoing is true and correct to the best of my knowledge and belief. 09/17/12 Date Debtor: FastShip, Inc. et al Case Number: 12-10968 (BLS) NOTES: (1) This report is being filed for FastShip, Inc. and its wholly owned subsidiaries, FastShip Atlantic, Inc. (Case No. 12-10970 (BLS)) and Thornycroft, Giles & Co., Inc. (Case No. 12-10971 (BLS)). (2) The Wells Fargo account was the sole Debtor in Possession bank account during the bankruptcy. This account was closed on August 27, 2012 after payment of all professional fees; the remaining balance was transferred to the Liquidating Trust. The Liquidating Trustee has established an account for the Liquidating Trust at TD Bank, account # 42-7162748-7. The Liquidating Trustee also established an account for FastShip LLC at TD Bank, account # 42-7162747-9; $1500 dollars was transferred from the Liquidating Trust to establish this account. Disbursements and balances reported here reflect the total activity of all three accounts. (3) Disbursements include payments made on behalf of each of the debtors as follows; all other disbursements were made on behalf of FastShip, Inc.: Del. Sec'y of State US Trustee FastShip, Inc. (Case No. 12-10968 (BLS)) $ 587.13 $ 1,950.00 FastShip Atlantic, Inc. (Case No. 12-10970 (BLS)) $ 1,034.55 $ 325.00 Thornycroft, Giles & Co., Inc. (Case No. 12-10971 (BLS)) $ 219.10 $ 325.00 Kathryn Riepe Chambers, consultant to the Liquidating Trust of FastShip, Inc. et al Name/Title

FastShip, BOOK VALUE AT Inc. et al END OF BOOK VALUE ON CURRENT ASSETS Cash (Unrestricted) Cash (Restricted) Accounts Receivable (Net) Inventory Notes Receivable Prepaid Expenses Other (Attach List) Total Current Assets Property, Plant & Equipment Real Property & Improvements Machinery & Equipment Furniture, fixtures & Office Equipment Vehicles Leasehold Improvements Less: Accumulated Depreciation/Depletion Total Property, Plant & Equipment Due from Affiliates & Insiders Other (Attach List) Total Assets Liabilities Not Subject to Compromise (Postpetition Liabilities) Accounts Payable Taxes Payable Notes Payable Professional Fees Secured Debt (DIP Loan) Due to Affiliates & Insiders Other (Payments made by parent on behalf of subsidiaries) Total Postpetition Liabilities Liabilities Subject to Compromise (Pre-petition Liabilities) Secured Debt - Per Plan Priority Debt - Per Plan Unsecured Debt - Per Plan Other (Attach List) - Per Plan Total Pre-petition Liabilities Total Liabilities Equity Common Stock Additional Paid-In Capital Retained Earnings (Deficit) Total Equity (Deficit) Total Liabilities & Owners' Equity 120,204 19,359,060 (88,187,174) (68,707,910) 15,412 120,204 19,359,060 (87,778,784) (68,299,520) 14,699 29,429,582 26,601 9,426,000 38,882,183 39,290,890 29,429,582 26,894 9,428,161 38,884,637 38,884,637 3,635 400,000 5,072 408,707 15,412 14,701 REPORTING 15,412 15,412 PETITION DATE 3,283 11,418 14,701

FastShip, Inc. BOOK VALUE AT END OF BOOK VALUE ON CURRENT REPORTING 15,412 15,412 15,412 3,635 400,000 5,072 408,707 29,429,582 24,612 9,220,791 38,674,985 39,083,692 120,204 19,359,060 (58,547,543) (39,068,279) 15,412 PETITION DATE 3,283 11,418 14,701 14,701 29,429,582 24,905 9,222,952 38,677,439 38,677,439 120,204 19,359,060 (58,142,004) (38,662,740) 14,699

FastShip Atlantic, Inc. BOOK VALUE AT END OF BOOK VALUE ON CURRENT REPORTING 1,931 1,931 1,684 64,108 65,792 67,723 (67,723) (67,723) PETITION DATE 1,684 64,108 65,792 65,792 (65,792) (65,792) -

Thornycroft, Giles BOOK VALUE AT & Co., Inc. (4) END OF BOOK VALUE ON CURRENT REPORTING 919 919 29,429,582 305 141,101 29,570,988 29,571,907 (29,571,907) (29,571,907) PETITION DATE 29,429,582 305 141,101 29,570,988 29,570,988 (29,570,988) (29,570,988) -

Eliminations BOOK VALUE AT END OF BOOK VALUE ON CURRENT REPORTING (2,850) (2,850) (29,429,582) (29,429,582) (29,432,432) PETITION DATE (29,429,582) (29,429,582) (29,429,582) -

NOTES: Thornycroft, Giles & Co., Inc. (TGC) is the owner of the intellectual property which will be the subject of the planned litigation and source of potential future value for the debtors. This intellectual property has been used as security for the secured notes issued by the parent, FastShip, Inc., and TGC is shown as codebtor for those pre-petition secured debt liabilities. These co-debtor amounts are eliminated for consolidation purposes.