Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - PROFESSIONAL VETERINARY PRODUCTS LTD /NE/ | c61895e8vk.htm |
Exhibit 99.1
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF NEBRASKA
FOR THE DISTRICT OF NEBRASKA
In re:
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) | Case No. 10-82436 | ||||
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PROFESSIONAL VETERINARY PRODUCTS, LTD,
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) | CHAPTER 11 | ||||
A NEBRASKA CORPORATION,
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Debtor,
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) | |||||
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In re:
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) | Case No. 10-82438 | ||||
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EXACT LOGISTICS, LLC,
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) | CHAPTER 11 | ||||
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Debtor,
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| ) | ||||||
In re:
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) | Case No. 10-82437 | ||||
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PROCONN, LLC,
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) | CHAPTER 11 | ||||
| ) | ||||||
Debtor,
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) | |||||
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MONTHLY OPERATING REPORT FOR THE PERIOD
11/01/2010 THROUGH 11/30/2010
11/01/2010 THROUGH 11/30/2010
I CERTIFY UNDER PENALTY OF PERJURY THAT THE FOLLOWING CONSOLIDATED OPERATING
REPORT, CONSISTING OF ONE (1) PAGE IS TRUE AND CORRECT.
| Date Submitted December 14, 2010 | /s/ Vicky Winkler | |||
| Vicky Winkler, President/CEO | ||||
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF NEBRASKA
FOR THE DISTRICT OF NEBRASKA
CASE NAME: Summary Report for Professional Veterinary Products, LTD; Exact Logistics, LLC; ProConn, LLC
CASE NO.: 10-82436; 10-82438; 10-82437
CASE NO.: 10-82436; 10-82438; 10-82437
Summary of Cash Receipts and Disbursements For The Above Noted Entity
For Period November 1-30, 2010
For Period November 1-30, 2010
| Wells Fargo | FNBO | JP Morgan | Fulton Bank | Total | ||||||||||||||||
BEGINNING BALANCE (10/31/10) |
$ | 727,577.56 | $ | 4,960,275.85 | $ | 59,658.64 | $ | 0.00 | $ | 5,747,512.05 | ||||||||||
RECEIPTS: |
||||||||||||||||||||
1. Receipts from Operations |
906,008.23 | 144,098.63 | 0.00 | 0.00 | 1,050,106.86 | |||||||||||||||
2. Receipts from Bulk Sale of Inventory |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
3. Receipts from Sale of Intangible Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
4. Receipts from Sale of De Minimis Assets (1) |
0.00 | 40,759.75 | 0.00 | 0.00 | 40,759.75 | |||||||||||||||
5. Receipts from Sale of Fixed Assets (1) |
0.00 | 39,425.00 | 0.00 | 0.00 | 39,425.00 | |||||||||||||||
6. Other Receipts |
0.00 | 44,912.58 | 0.00 | 0.00 | 44,912.58 | |||||||||||||||
TOTAL RECEIPTS |
906,008.23 | 269,195.96 | 0.00 | 0.00 | 1,175,204.19 | |||||||||||||||
TRANSFERS: |
(1,200,000.00 | ) | 1,142,645.73 | 57,354.27 | 0.00 | (0.00 | ) | |||||||||||||
DISBURSEMENTS: |
||||||||||||||||||||
3. Line of credit Wells Fargo |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
4. Payments to Officers and Directors: |
||||||||||||||||||||
a. Officers |
0.00 | 38,207.71 | 0.00 | 0.00 | 38,207.71 | |||||||||||||||
b. Directors |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Subtotal — payments to Officers and Directors |
0.00 | 38,207.71 | 0.00 | 0.00 | 38,207.71 | |||||||||||||||
5. Taxes — personnel |
||||||||||||||||||||
a. Federal Income Tax |
0.00 | 9,648.02 | 0.00 | 0.00 | 9,648.02 | |||||||||||||||
b. FICA withholdings |
0.00 | 5,702.60 | 0.00 | 0.00 | 5,702.60 | |||||||||||||||
c. Medicare |
0.00 | 2,195.10 | 0.00 | 0.00 | 2,195.10 | |||||||||||||||
d. Federal Unemployment |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
e. State Income Tax |
0.00 | 3,619.77 | 0.00 | 0.00 | 3,619.77 | |||||||||||||||
f. State Unemployment |
0.00 | 1.36 | 0.00 | 0.00 | 1.36 | |||||||||||||||
g. State Unemployment/Disability |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
h. Local Income Tax |
0.00 | 16.92 | 0.00 | 0.00 | 16.92 | |||||||||||||||
Subtotal — taxes |
0.00 | 21,183.77 | 0.00 | 0.00 | 21,183.77 | |||||||||||||||
6. Necessary expenses: |
||||||||||||||||||||
Inventory purchases |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Freight and supplies |
115.93 | 624.96 | 0.00 | 0.00 | 740.89 | |||||||||||||||
Wages, ETO, Commissions, Incentives, Fees |
756.43 | 19,815.42 | 0.00 | 0.00 | 20,571.85 | |||||||||||||||
Benefits |
5,232.96 | 5,266.37 | 45,414.07 | 0.00 | 55,913.40 | |||||||||||||||
Professional and Trustee Fees |
169,994.75 | 134,835.63 | 0.00 | 0.00 | 304,830.38 | |||||||||||||||
Credit card fees |
0.00 | 5,137.52 | 0.00 | 0.00 | 5,137.52 | |||||||||||||||
Bayer escrow |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Payment of Sales Taxes |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Building Expenses |
0.00 | 1,620.69 | 0.00 | 0.00 | 1,620.69 | |||||||||||||||
Building Lease |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Equipment Leases and Expenses |
0.00 | 10,127.30 | 0.00 | 0.00 | 10,127.30 | |||||||||||||||
Utilities Expense |
4,459.57 | 9,468.45 | 0.00 | 0.00 | 13,928.02 | |||||||||||||||
Utilities Deposit |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Insurance |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Real Estate & Personal Property Taxes |
10,768.19 | 3,878.91 | 0.00 | 0.00 | 14,647.10 | |||||||||||||||
Accounting and Tax Fees |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Wells Fargo Escrow |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Bank Fees/Interest |
3,542.30 | 363.93 | 0.00 | 0.00 | 3,906.23 | |||||||||||||||
Misc. G&A and Other fees |
411.04 | 15,273.74 | 0.00 | 0.00 | 15,684.78 | |||||||||||||||
Subtotal — necessary expenses |
195,281.17 | 206,412.92 | 45,414.07 | 0.00 | 447,108.16 | |||||||||||||||
TOTAL DISBURSEMENTS |
195,281.17 | 265,804.40 | 45,414.07 | 0.00 | 506,499.64 | |||||||||||||||
NET CASH FLOW |
(489,272.94 | ) | 1,146,037.29 | 11,940.20 | 0.00 | 668,704.55 | ||||||||||||||
ENDING BANK BALANCE (10/31/10) |
$ | 238,304.62 | $ | 6,106,313.14 | $ | 71,598.84 | $ | 0.00 | $ | 6,416,216.60 | ||||||||||
BANK BALANCES Per Bank Statement |
$ | 238,304.62 | $ | 6,106,313.14 | $ | 71,598.84 | $ | 0.00 | $ | 6,416,216.60 | ||||||||||
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