Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - PROFESSIONAL VETERINARY PRODUCTS LTD /NE/ | c62289e8vk.htm |
Exhibit 99.1
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF NEBRASKA
FOR THE DISTRICT OF NEBRASKA
In re: |
) | Case No. 10-82436 | ||
| ) | ||||
PROFESSIONAL VETERINARY |
) | |||
PRODUCTS, LTD, A NEBRASKA |
) | CHAPTER 11 | ||
CORPORATION, |
) | |||
| ) | ||||
Debtor, |
) | |||
| ) | ||||
In re: |
) | Case No. 10-82438 | ||
| ) | ||||
EXACT LOGISTICS, LLC, |
) | CHAPTER 11 | ||
| ) | ||||
Debtor, |
) | |||
| ) | ||||
| ) | ||||
| ) | ||||
In re: |
) | Case No. 10-82437 | ||
| ) | ||||
PROCONN, LLC, |
) | CHAPTER 11 | ||
| ) | ||||
Debtor, |
) | |||
| ) | ||||
| ) | ||||
| ) | ||||
| ) | ||||
MONTHLY OPERATING REPORT FOR THE PERIOD
12/01/2010 THROUGH 12/31/2010
12/01/2010 THROUGH 12/31/2010
I CERTIFY UNDER PENALTY OF PERJURY THAT THE FOLLOWING CONSOLIDATED OPERATING
REPORT, CONSISTING OF ONE (1) PAGE IS TRUE AND CORRECT.
| Date Submitted 1/11/11 | /s/ Vicky Winkler | |||
| Vicky Winkler, President/CEO | ||||
IN THE UNITED STATES BANKRUPTCY COURT
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
Summary of Cash Receipts and Disbursements For The Above Noted Entity
For Period December 1-31, 2010
| Wells Fargo | FNBO | JP Morgan | Fulton Bank | Total | ||||||||||||||||
BEGINNING BALANCE (11/30/10) |
$ | 238,304.62 | $ | 6,106,313.14 | $ | 71,598.84 | $ | 0.00 | $ | 6,416,216.60 | ||||||||||
RECEIPTS: |
||||||||||||||||||||
1. Receipts from Accounts Receivable
Collections |
229,805.61 | 20,539.14 | 0.00 | 0.00 | 250,344.75 | |||||||||||||||
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 |
0.00 | 200.00 | 0.00 | 0.00 | 200.00 | |||||||||||||||
5. Receipts from Sale of Fixed Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
6. Other Receipts |
0.00 | 19,722.14 | 0.00 | 0.00 | 19,722.14 | |||||||||||||||
TOTAL RECEIPTS |
229,805.61 | 40,461.28 | 0.00 | 0.00 | 270,266.89 | |||||||||||||||
TRANSFERS: |
(112,469.82 | ) | 111,870.11 | 599.71 | 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 | 19,247.22 | 0.00 | 0.00 | 19,247.22 | |||||||||||||||
b. Directors |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Subtotal — payments to Officers and Directors |
0.00 | 19,247.22 | 0.00 | 0.00 | 19,247.22 | |||||||||||||||
5. Taxes — personnel |
||||||||||||||||||||
a. Federal Income Tax |
0.00 | 11,609.58 | 0.00 | 0.00 | 11,609.58 | |||||||||||||||
b. FICA withholdings |
0.00 | 2,350.68 | 0.00 | 0.00 | 2,350.68 | |||||||||||||||
c. Medicare |
0.00 | 1,690.52 | 0.00 | 0.00 | 1,690.52 | |||||||||||||||
d. Federal Unemployment |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
e. State Income Tax |
0.00 | 2,931.20 | 0.00 | 0.00 | 2,931.20 | |||||||||||||||
f. State Unemployment |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
g. State Unemployment/Disability |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
h. Local Income Tax |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Subtotal — taxes |
0.00 | 18,581.98 | 0.00 | 0.00 | 18,581.98 | |||||||||||||||
6. Necessary expenses: |
||||||||||||||||||||
Inventory purchases |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Freight and supplies |
0.00 | 365.41 | 0.00 | 0.00 | 365.41 | |||||||||||||||
Wages, ETO, Commissions, Incentives, Fees |
0.00 | 25,618.83 | 0.00 | 0.00 | 25,618.83 | |||||||||||||||
Benefits |
0.00 | 97.92 | 12,198.55 | 0.00 | 12,296.47 | |||||||||||||||
Professional and Trustee Fees |
0.00 | 98,158.41 | 0.00 | 0.00 | 98,158.41 | |||||||||||||||
Credit card fees |
0.00 | 22.29 | 0.00 | 0.00 | 22.29 | |||||||||||||||
Bayer escrow |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Payment of Sales Taxes |
0.00 | 270.06 | 0.00 | 0.00 | 270.06 | |||||||||||||||
Building Expenses |
0.00 | 1,709.19 | 0.00 | 0.00 | 1,709.19 | |||||||||||||||
Building Lease |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Equipment Leases and Expenses |
0.00 | 200.56 | 0.00 | 0.00 | 200.56 | |||||||||||||||
Utilities Expense |
0.00 | 6,021.01 | 0.00 | 0.00 | 6,021.01 | |||||||||||||||
Utilities Deposit |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Insurance |
0.00 | 95,382.01 | 0.00 | 0.00 | 95,382.01 | |||||||||||||||
Real Estate & Personal Property Taxes |
0.00 | 5,490.22 | 0.00 | 0.00 | 5,490.22 | |||||||||||||||
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 |
2,193.11 | 72.06 | 0.00 | 0.00 | 2,265.17 | |||||||||||||||
Misc. G&A and Other fees |
0.00 | 16,811.34 | 0.00 | 0.00 | 16,811.34 | |||||||||||||||
Subtotal — necessary expenses |
2,193.11 | 250,219.31 | 12,198.55 | 0.00 | 264,610.97 | |||||||||||||||
TOTAL DISBURSEMENTS |
2,193.11 | 288,048.51 | 12,198.55 | 0.00 | 302,440.17 | |||||||||||||||
NET CASH FLOW |
115,142.68 | (135,717.12 | ) | (11,598.84 | ) | 0.00 | (32,173.28 | ) | ||||||||||||
ENDING BANK BALANCE (12/31/10) |
$ | 353,447.30 | $ | 5,970,596.02 | $ | 60,000.00 | $ | 0.00 | $ | 6,384,043.32 | ||||||||||
BANK BALANCES Per Bank Statement |
$ | 353,447.30 | $ | 5,970,596.02 | $ | 60,000.00 | $ | 0.00 | $ | 6,384,043.32 | ||||||||||