Attached files
file | filename |
---|---|
8-K - CURRENT REPORT - ECO2 PLASTICS INC | form8-k.htm |
EX-99.1 - LOAN AND SECURITY AGREEMENT AND A FORM OF THE NOTE - ECO2 PLASTICS INC | exhibit99-1.htm |
UNITED
STATES BANKRUPTCY COURT
|
||||||||||||||||||||||
NORTHERN
DISTRICT OF CALIFORNIA
|
||||||||||||||||||||||
In
re: [CASE NAME]
|
ECO2
Plastics Inc.
|
Case
No.
|
09-33702
DM
|
|||||||||||||||||||
A
Delaware Corporation
|
||||||||||||||||||||||
CHAPTER
11
|
||||||||||||||||||||||
MONTHLY
OPERATING REPORT
|
||||||||||||||||||||||
(GENERAL
BUSINESS CASE)
|
||||||||||||||||||||||
SUMMARY
OF FINANCIAL STATUS
|
||||||||||||||||||||||
MONTH
ENDED:
|
Jan-10
|
PETITION
DATE:
|
11/24/09
|
|||||||||||||||||||
1. |
Debtor
in possession (or trustee) hereby submits this Monthly Operating Report on
the Accrual Basis of accounting (or if checked here
|
|||||||||||||||||||||
the
Office of the U.S. Trustee or the Court has approved the Cash Basis of
Accounting for the Debtor).
|
||||||||||||||||||||||
Dollars
reported in
|
$ | 1 | ||||||||||||||||||||
2. |
Asset
and Liability Structure
|
End
of Current Month
|
End of Prior Month
|
As
of Petition Filing
|
||||||||||||||||||
a. Current
Assets
|
$ | 448,548 | $ | 535,707 | ||||||||||||||||||
b. Total
Assets
|
$ | 1,684,692 | $ | 1,735,707 | $ | 1,719,576 | ||||||||||||||||
c. Current
Liabilities
|
$ | 215,284 | $ | 191,903 | ||||||||||||||||||
d. Total
Liabilities
|
$ | 15,542,554 | $ | 15,611,788 | $ | 15,327,270 |
As
Amended
|
|||||||||||||||
3. |
Statement
of Cash Receipts & Disbursements for Month
|
Current Month
|
Prior Month
|
Cumulative
(Case to Date)
|
||||||||||||||||||
a. Total
Receipts
|
$ | 195,685 | $ | 201,906 | $ | 397,591 | ||||||||||||||||
b. Total
Disbursements
|
$ | 169,199 | $ | 145,855 | $ | 315,054 | ||||||||||||||||
c. Excess
(Deficiency) of Receipts Over Disbursements (a - b)
|
$ | 26,486 | $ | 56,051 | $ | 82,537 | ||||||||||||||||
d. Cash
Balance Beginning of Month
|
$ | 61,729 | $ | 5,678 | $ | 5,678 | ||||||||||||||||
e. Cash
Balance End of Month (c + d)
|
$ | 88,215 | $ | 61,729 | $ | 88,215 | ||||||||||||||||
Current Month
|
Prior Month
|
Cumulative
(Case to Date)
|
||||||||||||||||||||
4. |
Profit/(Loss)
from the Statement of Operations
|
$ | (76,073 | ) | $ | (169,278 | ) | $ | (274,424 | ) | ||||||||||||
5. |
Account
Receivables (Pre and Post Petition)
|
$ | 177,755 | $ | 315,255 | |||||||||||||||||
6. |
Post-Petition
Liabilities
|
$ | 215,284 | $ | 191,903 | |||||||||||||||||
7. |
Past
Due Post-Petition Account Payables (over 30 days)
|
$ | 0 | $ | 0 | |||||||||||||||||
At
the end of this reporting month:
|
Yes
|
No
|
||||||||||||||||||||
8. |
Have
any payments been made on pre-petition debt, other than payments in the
normal
|
x | ||||||||||||||||||||
course
to secured creditors or lessors? (if yes, attach listing including date
of
|
||||||||||||||||||||||
payment,
amount of payment and name of payee)
|
||||||||||||||||||||||
9. |
Have
any payments been made to professionals? (if yes, attach listing
including date of
|
x | ||||||||||||||||||||
payment,
amount of payment and name of payee)
|
||||||||||||||||||||||
10. |
If
the answer is yes to 8 or 9, were all such payments approved by the
court?
|
|||||||||||||||||||||
11. |
Have
any payments been made to officers, insiders, shareholders,
relatives? (if yes,
|
x | ||||||||||||||||||||
attach
listing including date of payment, amount and reason for payment, and name
of payee)
|
||||||||||||||||||||||
12. |
Is
the estate insured for replacement cost of assets and for general
liability? (market value)
|
x | ||||||||||||||||||||
13. |
Are
a plan and disclosure statement on file?
|
x | ||||||||||||||||||||
14. |
Was
there any post-petition borrowing during this reporting
period?
|
x | ||||||||||||||||||||
15. |
Check
if paid: Post-petition taxes
|
; U.S.
Trustee Quarterly Fees
|
X
|
; Check
if filing is current for: Post-petition
|
||||||||||||||||||
tax
reporting and tax returns:
|
.
|
|||||||||||||||||||||
(Attach
explanation, if post-petition taxes or U.S. Trustee Quarterly Fees are not
paid current or if post-petition tax
|
||||||||||||||||||||||
reporting
and tax return filings are not current.)
|
||||||||||||||||||||||
I
declare under penalty of perjury I have reviewed the above summary and
attached financial statements, and after making reasonable
inquiry
|
||||||||||||||||||||||
believe
these documents are correct.
|
||||||||||||||||||||||
Date:
|
||||||||||||||||||||||
Responsible
Individual
|
||||||||||||||||||||||
STATEMENT
OF OPERATIONS
(General
Business Case)
|
||||||||||||||||||||||||
For
the Month Ended
|
01/31/10
|
|||||||||||||||||||||||
Current
Month
|
||||||||||||||||||||||||
Actual
|
Forecast
|
Variance
|
Cumulative
(Case to Date)
|
Next
Month
Forecast
|
||||||||||||||||||||
Revenues:
|
||||||||||||||||||||||||
$ | 0 | 1 |
Gross
Sales
|
$ | 0 | |||||||||||||||||||
$ | 0 | $ | 0 | 2 |
less:
Sales Returns & Allowances
|
$ | 0 | |||||||||||||||||
$ | 0 | $ | 0 | $ | 0 | 3 |
Net
Sales
|
$ | 0 | $ | 0 | |||||||||||||
$ | 0 | $ | 0 | 4 |
less:
Cost of Goods
Sold (Schedule
'B')
|
$ | 0 | |||||||||||||||||
$ | 0 | $ | 0 | $ | 0 | 5 |
Gross
Profit
|
$ | 0 | $ | 0 | |||||||||||||
$ | 0 | $ | 0 | 6 |
Interest
|
$ | 0 | |||||||||||||||||
$ | 0 | 7 |
Other
Income:
|
|||||||||||||||||||||
$ | 0 | 8 | ||||||||||||||||||||||
$ | 0 | 9 | ||||||||||||||||||||||
$ | 0 | $ | 0 | $ | 0 | 10 |
Total
Revenues
|
$ | 0 | $ | 0 | |||||||||||||
Expenses:
|
||||||||||||||||||||||||
$ | 26,654 | $ | 29,192 | $ | 2,538 | 11 |
Compensation
to Owner(s)/Officer(s)
|
$ | 67,269 | $ | 25,385 | |||||||||||||
$ | 36,628 | $ | 47,696 | $ | 11,068 | 12 |
Salaries
|
$ | 93,870 | $ | 34,884 | |||||||||||||
$ | 1,562 | $ | (1,562 | ) | 13 |
Payroll
Processing Fee
|
$ | 1,562 | $ | 910 | ||||||||||||||
$ | 0 | 14 | ||||||||||||||||||||||
$ | 1,499 | $ | 1,500 | $ | 1 | 15 |
Rent/Lease:
Personal
Property
|
$ | 4,810 | $ | 1,500 | |||||||||||||
$ | 19,300 | $ | 15,000 | $ | (4,300 | ) | 16 |
Real
Property
|
$ | 51,584 | $ | 8,600 | ||||||||||||
$ | 13,514 | $ | 11,110 | $ | (2,404 | ) | 17 |
Insurance
|
$ | 30,693 | $ | 10,912 | ||||||||||||
$ | 0 | 18 |
Management
Fees
|
|||||||||||||||||||||
$ | 0 | 19 |
Depreciation
|
|||||||||||||||||||||
$ | 4,530 | $ | 7,074 | $ | 2,544 | 20 |
Taxes:
Employer
Payroll Taxes
|
$ | 9,762 | $ | 4,821 | |||||||||||||
$ | 0 | 21 |
Real
Property Taxes
|
|||||||||||||||||||||
$ | 0 | 22 |
Other
Taxes
|
|||||||||||||||||||||
$ | 1,068 | $ | (1,068 | ) | 23 |
Moving
Expense
|
$ | 1,068 | $ | 11,000 | ||||||||||||||
$ | 261 | $ | 135 | $ | (126 | ) | 24 |
Other
Administrative (Cafeteria)
|
$ | 761 | ||||||||||||||
$ | 21,195 | $ | 21,195 | 25 |
Interest
|
$ | 21,897 | |||||||||||||||||
$ | 1,787 | $ | 540 | $ | (1,247 | ) | 26 |
Other
Expenses:
|
General
|
$ | 4,837 | $ | 2,000 | |||||||||||
$ | 1,795 | $ | 1,735 | $ | (60 | ) | 27 |
Utilities
|
$ | 3,470 | $ | 1,500 | ||||||||||||
$ | 742 | $ | 765 | $ | 23 | 28 |
Telephone
|
$ | 1,515 | $ | 765 | |||||||||||||
$ | 18,750 | $ | 18,750 | 29 |
Cool
Clean Settlement
|
$ | 18,750 | |||||||||||||||||
$ | 3,500 | $ | 2,500 | $ | (1,000 | ) | 30 |
Employee
Expenses
|
$ | 6,000 | $ | 2,500 | ||||||||||||
$ | 0 | 31 |
Fees
for Initial SEC 8k Filing
|
$ | 1,205 | $ | 1,000 | |||||||||||||||||
$ | 8,925 | $ | (8,925 | ) | 32 |
Patent
Expenses
|
$ | 8,925 | $ | 11,000 | ||||||||||||||
$ | 582 | $ | (582 | ) | 33 |
Transfer
Agent Stock Listing charges
|
$ | 582 | ||||||||||||||||
$ | 54,905 | $ | 54,905 | 34 |
Prepetition
Employee Expenses
|
$ | 32,943 | |||||||||||||||||
$ | 122,346 | $ | 212,096 | $ | 89,750 | 35 |
Total
Expenses
|
$ | 287,913 | $ | 190,367 | |||||||||||||
$ | (122,346 | ) | $ | (212,096 | ) | $ | 89,750 | 36 |
Subtotal
|
$ | (287,913 | ) | $ | (190,367 | ) | |||||||||
$ | (49,055 | ) | $ | (50,000 | ) | $ | (945 | ) | 37 |
Reorganization
Items:
Professional
Fees
|
$ | (171,242 | ) | $ | (50,000 | ) | ||||||||
$ | 0 | 38 |
Provisions
for Rejected Executory Contracts
|
$ | 0 | |||||||||||||||||||
$ | 0 | 39 |
Interest
Earned on Accumulated Cash from
|
$ | 0 | |||||||||||||||||||
Resulting
Chp 11 Case
|
0 | |||||||||||||||||||||||
$ | 96,303 | $ | 87,150 | $ | 9,153 | 40 |
Gain
or (Loss) from Sale of Equipment
|
$ | 185,705 | |||||||||||||||
$ | (975 | ) | $ | 975 | 41 |
U.S.
Trustee Quarterly Fees
|
$ | (975 | ) | |||||||||||||||
$ | 0 | 42 | ||||||||||||||||||||||
$ | 46,273 | $ | 37,150 | $ | 9,123 | 43 |
Total
Reorganization Items
|
$ | 13,489 | $ | (50,000 | ) | ||||||||||||
$ | (76,073 | ) | $ | (174,946 | ) | $ | 98,873 | 44 |
Net
Profit (Loss) Before Federal & State Taxes
|
$ | (274,424 | ) | $ | (240,367 | ) | |||||||||
$ | 0 | 45 |
Federal
& State Income Taxes
|
|||||||||||||||||||||
$ | (76,073 | ) | $ | (174,946 | ) | $ | 98,873 | 46 |
Net
Profit (Loss)
|
$ | (274,424 | ) | $ | (240,367 | ) | |||||||||
Attach
an Explanation of Variance to Statement of Operations (For variances
greater than +/- 10% only):
|
||||||||||||||||||||||||
Exhibit
A - Statement of Operations - Explanation of Variances +/-
10%
|
||||||||||||||||||||||||
Line
12. A portion of the labor forecast should have been a part of asset
removal and charged to gain or loss.
|
||||||||||||||||||||||||
Line
13. Payroll processing fee included as part of labor
forecast
|
||||||||||||||||||||||||
Line
16. Revised amount after completion of storage rental
agreement
|
||||||||||||||||||||||||
Line
17. Workers comp insurance ($1,436) bill for December not received
until January
|
||||||||||||||||||||||||
Line
20. Prior month accrual not deducted from forecast and plant labor
taxes should have been forecast in gain or loss account
|
||||||||||||||||||||||||
Line
23. Early expenditure of moving expenses budgeted for next
month.
|
||||||||||||||||||||||||
Line
25. Not paid due to delay in DIP financing
|
||||||||||||||||||||||||
Line
26. Charge for Quickbooks Online Annual Fee ($754) not in original
forecast
|
||||||||||||||||||||||||
Line
29. Not paid due to delay in DIP financing. Extended until Feb
24th
|
||||||||||||||||||||||||
Line
30. Late submission of December expense report
|
||||||||||||||||||||||||
Line
32. Early expenditures on patent maintenance budgeted for next
month
|
||||||||||||||||||||||||
Line
34. Pre petition key employee expenses in forecast but not yet
approved by the Court.
|
BALANCE
SHEET
|
|||||||||||||
(General
Business Case)
|
|||||||||||||
For
the Month Ended
|
01/31/10
|
||||||||||||
Assets
|
|||||||||||||
From Schedules
|
Market Value
|
||||||||||||
Current
Assets
|
|||||||||||||
1 |
Cash
and cash equivalents - unrestricted
|
$ | 88,215 | ||||||||||
2 |
Cash
and cash equivalents - restricted
|
||||||||||||
3 |
Accounts
receivable (net)
|
A | $ | 177,755 | |||||||||
4 |
Inventory
|
B | $ | 0 | |||||||||
5 |
Prepaid
expenses
|
||||||||||||
6 |
Professional
retainers
|
$ | 82,578 | ||||||||||
7 |
Other:
|
Honeywell
License
|
$ | 100,000 | |||||||||
8 | |||||||||||||
9 |
Total
Current Assets
|
$ | 448,548 | ||||||||||
Property
and Equipment (Market Value)
|
|||||||||||||
10 |
Real
property
|
C | $ | 0 | |||||||||
11 |
Machinery
and equipment
|
D | $ | 1,190,000 | |||||||||
12 |
Furniture
and fixtures
|
D | |||||||||||
13 |
Office
equipment
|
D | $ | 10,000 | |||||||||
14 |
Leasehold
improvements
|
D | $ | 0 | |||||||||
15 |
Vehicles
|
D | $ | 0 | |||||||||
16 |
Other:
|
D | |||||||||||
17 | D | ||||||||||||
18 | D | ||||||||||||
19 | D | ||||||||||||
20 | D | ||||||||||||
21 |
Total
Property and Equipment
|
$ | 1,200,000 | ||||||||||
Other
Assets
|
|||||||||||||
22 |
Loans
to shareholders
|
||||||||||||
23 |
Loans
to affiliates
|
||||||||||||
24 |
Security
Deposit to Norris Industry (Landlord)
|
$ | 36,144 | ||||||||||
25 | |||||||||||||
26 | |||||||||||||
27 | |||||||||||||
28 |
Total
Other Assets
|
$ | 36,144 | ||||||||||
29 |
Total
Assets
|
$ | 1,684,692 | ||||||||||
NOTE:
|
|||||||||||||
Indicate
the method used to estimate the market value of assets (e.g., appraisals;
familiarity with comparable market
|
|||||||||||||
prices,
etc.) and the date the value was determined.
|
Liabilities
and Equity
|
||||||||||||
(General
Business Case)
|
||||||||||||
Liabilities
From Schedules
|
||||||||||||
Post-Petition
|
||||||||||||
Current
Liabilities
|
||||||||||||
30 |
Salaries
and wages
|
$ | 9,040 | |||||||||
31 |
Payroll
taxes
|
$ | 691 | |||||||||
32 |
Real
and personal property taxes
|
|||||||||||
33 |
Income
taxes
|
|||||||||||
34 |
Sales
taxes
|
|||||||||||
35 |
Notes
payable (short term)
|
|||||||||||
36 |
Accounts
payable (trade)
|
A | $ | 34,311 | ||||||||
37 |
Real
property lease arrearage
|
|||||||||||
38 |
Personal
property lease arrearage
|
|||||||||||
39 |
Accrued
professional fees
|
$ | 171,242 | |||||||||
40 |
Current
portion of long-term post-petition debt (due within 12
months)
|
|||||||||||
41 |
Other:
|
|||||||||||
42 | ||||||||||||
43 | ||||||||||||
44 |
Total
Current Liabilities
|
$ | 215,284 | |||||||||
45 |
Long-Term
Post-Petition Debt, Net of Current Portion
|
|||||||||||
46 |
Total
Post-Petition Liabilities
|
$ | 215,284 | |||||||||
Pre-Petition
Liabilities (allowed amount)
|
||||||||||||
47 |
Secured
claims
|
F | $ | 12,403,473 | ||||||||
48 |
Priority
unsecured claims
|
F | $ | 242,761 | ||||||||
49 |
General
unsecured claims
|
F | $ | 2,681,036 | ||||||||
50 |
Total
Pre-Petition Liabilities
|
$ | 15,327,270 | |||||||||
51 |
Total
Liabilities
|
$ | 15,542,554 | |||||||||
Equity
(Deficit)
|
||||||||||||
52 |
Retained
Earnings/(Deficit) at time of filing
|
$ | (102,005,916 | ) | ||||||||
53 |
Capital
Stock
|
$ | 1,039,564 | |||||||||
54 |
Additional
paid-in capital
|
$ | 117,000,652 | |||||||||
55 |
Cumulative
profit/(loss) since filing of case
|
$ | (274,424 | ) | ||||||||
56 |
Post-petition
contributions/(distributions) or (draws)
|
|||||||||||
57 | ||||||||||||
58 |
Market
value adjustment
|
$ | (29,617,738 | ) | ||||||||
59 |
Total
Equity (Deficit)
|
$ | (13,857,862 | ) | ||||||||
60 |
Total
Liabilities and Equity (Deficit)
|
$ | 1,684,692 | |||||||||
$ | 0 |
(General
Business Case)
|
|||||||||||||||||||||
Schedule
A
|
|||||||||||||||||||||
Accounts
Receivable and (Net) Payable
|
|||||||||||||||||||||
Receivables
and Payables Agings
|
Accounts
Receivable
[Pre and Post Petition]
|
Accounts
Payable
[Post Petition]
|
Past
Due
Post Petition Debt
|
||||||||||||||||||
0
-30 Days
|
$ | 34,311 | |||||||||||||||||||
31-60
Days
|
$ | 0 | |||||||||||||||||||
61-90
Days
|
$ | 0 | $ | 0 | |||||||||||||||||
91+
Days
|
$ | 177,755 | $ | 0 | |||||||||||||||||
Total
accounts receivable/payable
|
$ | 177,755 | $ | 34,311 | |||||||||||||||||
Allowance
for doubtful accounts
|
|||||||||||||||||||||
Accounts
receivable (net)
|
$ | 177,755 | |||||||||||||||||||
Schedule
B
|
|||||||||||||||||||||
Inventory/Cost
of Goods Sold
|
|||||||||||||||||||||
Types and Amount of
Inventory(ies)
|
Cost of Goods Sold
|
||||||||||||||||||||
Inventory(ies)
Balance
at
End of Month
|
Inventory
Beginning of Month
|
0 | |||||||||||||||||||
Add
-
|
|||||||||||||||||||||
Retail/Restaurants
-
|
Net
purchase
|
$ | 0 | ||||||||||||||||||
Product
for resale
|
Direct
labor
|
$ | 0 | ||||||||||||||||||
Manufacturing
overhead
|
$ | 0 | |||||||||||||||||||
Distribution
-
|
Freight
in
|
$ | 0 | ||||||||||||||||||
Products
for resale
|
Other:
|
$ | 0 | ||||||||||||||||||
Manufacturer
-
|
|||||||||||||||||||||
Raw
Materials
|
|||||||||||||||||||||
Work-in-progress
|
Less
-
|
||||||||||||||||||||
Finished
goods
|
Inventory
End of Month
|
$ | 0 | ||||||||||||||||||
Shrinkage
|
$ | 0 | |||||||||||||||||||
Other
- Explain
|
Personal
Use
|
$ | 0 | ||||||||||||||||||
Cost
of Goods Sold
|
$ | 0 | |||||||||||||||||||
TOTAL
|
$ | 0 | |||||||||||||||||||
Method
of Inventory Control
|
Inventory
Valuation Methods
|
||||||||||||||||||||
Do
you have a functioning perpetual inventory system?
|
Indicate
by a checkmark method of inventory used.
|
||||||||||||||||||||
Yes
|
No
|
x | |||||||||||||||||||
How
often do you take a complete physical inventory?
|
Valuation
methods -
|
||||||||||||||||||||
FIFO
cost
|
|||||||||||||||||||||
Weekly
|
LIFO
cost
|
||||||||||||||||||||
Monthly
|
x
|
Lower
of cost or market
|
|||||||||||||||||||
Quarterly
|
Retail
method
|
||||||||||||||||||||
Semi-annually
|
Other
|
||||||||||||||||||||
Annually
|
Explain
|
||||||||||||||||||||
Date
of last physical inventory was
|
1/31/2010
0:00
|
||||||||||||||||||||
Date
of next physical inventory is
|
Real
Property
|
||||||
Description
|
Cost
|
Market Value
|
||||
Total
|
$0
|
$0
|
||||
Schedule
D
Other
Depreciable Assets
|
||||||
Description
|
Cost
|
Market Value
|
||||
Machinery
& Equipment -
|
||||||
Plastic
Plant
|
$1,190,000
|
|||||
Assets
for Sale
|
||||||
Total
|
$0
|
$1,190,000
|
||||
Furniture
& Fixtures -
|
||||||
Total
|
$0
|
$0
|
||||
Office
Equipment -
|
||||||
$10,000
|
||||||
Total
|
$0
|
$10,000
|
||||
Leasehold
Improvements -
|
||||||
Total
|
$0
|
$0
|
||||
Vehicles
-
|
||||||
Total
|
$0
|
$0
|
||||
Schedule
E
|
|||||||||||||||||||||
Aging
of Post-Petition Taxes
|
|||||||||||||||||||||
(As
of End of the Current Reporting Period)
|
|||||||||||||||||||||
Taxes
Payable
|
0-30 Days
|
31-60 Days
|
61-90 Days
|
91+ Days
|
Total
|
||||||||||||||||
Federal
|
|||||||||||||||||||||
Income
Tax Withholding
|
$ | 0 | |||||||||||||||||||
FICA
- Employee
|
$ | 0 | |||||||||||||||||||
FICA
- Employer
|
$ | 0 | |||||||||||||||||||
Unemployment
(FUTA)
|
$ | 0 | |||||||||||||||||||
Income
|
$ | 0 | |||||||||||||||||||
Other
(Attach List)
|
$ | 0 | |||||||||||||||||||
Total
Federal Taxes
|
$ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||
State
and Local
|
|||||||||||||||||||||
Income
Tax Withholding
|
$ | 0 | |||||||||||||||||||
Unemployment
(UT)
|
$ | 0 | |||||||||||||||||||
Disability
Insurance (DI)
|
$ | 0 | |||||||||||||||||||
Empl.
Training Tax (ETT)
|
$ | 0 | |||||||||||||||||||
Sales
|
$ | 0 | |||||||||||||||||||
Excise
|
$ | 0 | |||||||||||||||||||
Real
property
|
$ | 0 | |||||||||||||||||||
Personal
property
|
$ | 0 | |||||||||||||||||||
Income
|
$ | 0 | |||||||||||||||||||
Other
(Attach List)
|
$ | 0 | |||||||||||||||||||
Total
State & Local Taxes
|
$ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||
Total
Taxes
|
$ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||
Schedule
F
|
|||||||||||||||||||||
Pre-Petition
Liabilities
|
|||||||||||||||||||||
List Total Claims For Each Classification
-
|
Claimed
Amount
|
Allowed
Amount (b)
|
|||||||||||||||||||
Secured
claims (a)
|
$ | 12,403,473 | $ | 12,403,473 | |||||||||||||||||
Priority
claims other than taxes
|
$ | 84,276 | $ | 36,750 | |||||||||||||||||
Priority
tax claims
|
$ | 206,011 | $ | 206,011 | |||||||||||||||||
General
unsecured claims
|
$ | 2,633,510 | $ | 2,681,036 |
As
amended
|
||||||||||||||||
(a) List
total amount of claims even it under secured.
|
|||||||||||||||||||||
(b) Estimated
amount of claim to be allowed after compromise or litigation. As an
example, you are a defendant in a lawsuit
|
|||||||||||||||||||||
alleging
damage of $10,000,000 and a proof of claim is filed in that amount. You
believe that you can settle the case for a
|
|||||||||||||||||||||
claim
of $3,000,000. For Schedule F reporting purposes you should list
$10,000,000 as the Claimed Amount and
|
|||||||||||||||||||||
$3,000,000
as the Allowed Amount.
|
|||||||||||||||||||||
Schedule
G
Rental
Income Information
Not
applicable to General Business Cases
|
|||||||||||||||||||||
Schedule
H
Recapitulation
of Funds Held at End of Month
|
|||||||||||||||||||||
Account 1
|
Account 2
|
Account 3
|
Account 4
|
||||||||||||||||||
Bank
|
Wells
Fargo
|
Wells
Fargo
|
Petty
Cash
|
||||||||||||||||||
Account
Type
|
Checking
|
Savings
|
|||||||||||||||||||
Account
No.
|
xxx-xxx-1215
|
xxx-xxx-2116
|
|||||||||||||||||||
Account
Purpose
|
operations
|
||||||||||||||||||||
Balance,
End of Month
|
$ | 87,495 | $ | 678 | $ | 42 | |||||||||||||||
Total
Funds on Hand for all Accounts
|
$ | 88,215 | |||||||||||||||||||
Attach
copies of the month end bank statement(s), reconciliation(s), and the
check register(s) to the Monthly Operating Report.
|
Increase/(Decrease)
in Cash and Cash Equivalents
|
|||||||||||||
For
the Month Ended
|
01/31/10
|
||||||||||||
Actual
Current Month
|
Cumulative
(Case to Date)
|
||||||||||||
Cash
Receipts
|
|||||||||||||
1 |
Rent/Leases
Collected
|
$ | 0 | $ | 0 | ||||||||
2 |
Cash
Received from Sales
|
||||||||||||
3 |
Interest
Received
|
$ | 0 | $ | 0 | ||||||||
4 |
Borrowings
|
$ | 0 | $ | 0 | ||||||||
5 |
Funds
from Shareholders, Partners, or Other Insiders
|
||||||||||||
6 |
Capital
Contributions
|
$ | 0 | $ | 0 | ||||||||
7 |
Sales
of Assets
|
$ | 190,500 | $ | 389,050 | ||||||||
8 |
Sales
of Assets Scrap
|
$ | 5,051 | $ | 8,403 | ||||||||
9 |
Refund
(Honeywell)
|
$ | 4 | ||||||||||
10 |
Refund
(Cafeteria Plan)
|
$ | 135 | $ | 135 | ||||||||
11 | |||||||||||||
12 |
Total
Cash Receipts
|
$ | 195,685 | $ | 397,592 | ||||||||
Cash
Disbursements
|
|||||||||||||
13 |
Payments
for Inventory
|
0 | 0 | ||||||||||
14 |
Selling
|
$ | 0 | $ | 0 | ||||||||
15 |
Administrative
/ Legal
|
$ | 65,127 | $ | 65,127 | ||||||||
16 |
Capital
Expenditures
|
$ | 0 | $ | 0 | ||||||||
17 |
Principal
Payments on Debt
|
$ | 0 | $ | 0 | ||||||||
18 |
Interest
Paid
|
$ | 0 | $ | 0 | ||||||||
Rent/Lease:
|
$ | 0 | $ | 0 | |||||||||
19 |
Personal
Property
|
$ | 3,302 | $ | 3,302 | ||||||||
20 |
Real
Property
|
$ | 15,000 | $ | 47,284 | ||||||||
Amount
Paid to Owner(s)/Officer(s)
|
$ | 0 | $ | 0 | |||||||||
21 |
Salaries
|
$ | 23,128 | $ | 59,693 | ||||||||
22 |
Draws
|
$ | 0 | $ | 0 | ||||||||
23 |
Commissions/Royalties
|
$ | 0 | $ | 0 | ||||||||
24 |
Expense
Reimbursements
|
$ | 1,500 | $ | 5,148 | ||||||||
25 |
Other
Employee Expense Reimbursements
|
$ | 2,533 | $ | 0 | ||||||||
26 |
Salaries/Commissions
(less employee withholding)
|
$ | 33,931 | $ | 74,414 | ||||||||
27 |
Management
Fees
|
$ | 0 | $ | 0 | ||||||||
Taxes:
|
$ | 0 | $ | 0 | |||||||||
28 |
Employee
Withholding
|
$ | 13,220 | $ | 25,509 | ||||||||
29 |
Employer
Payroll Taxes
|
$ | 5,454 | $ | 9,834 | ||||||||
30 |
Real
Property Taxes
|
$ | 0 | $ | 0 | ||||||||
31 |
Other
Taxes
|
$ | 0 | $ | 0 | ||||||||
32 |
Other
Cash Outflows:
|
$ | 0 | $ | 0 | ||||||||
33 |
Liability
/ Life Insurance
|
$ | 1,665 | $ | 13,636 | ||||||||
34 |
Health
Benefits
|
$ | 5,208 | ||||||||||
35 |
Payroll
Processing
|
$ | 1,562 | $ | 2,018 | ||||||||
36 |
Misc
Supplies
|
$ | 2,402 | $ | 3,426 | ||||||||
37 |
Bank
Charges
|
$ | 376 | $ | 456 | ||||||||
38 |
Total
Cash Disbursements:
|
$ | 169,199 | $ | 315,055 | ||||||||
39 |
Net
Increase (Decrease) in Cash
|
$ | 26,486 | $ | 82,537 | ||||||||
40 |
Cash
Balance, Beginning of Period
|
$ | 61,729 | $ | 5,678 | ||||||||
41 |
Cash
Balance, End of Period
|
$ | 88,215 | $ | 88,215 |