NEWPOWER HOLDINGS INC - FORM 8-K - EX-99.1

Attached files

file	filename
8-K - NEWPOWER HOLDINGS INC	efc11-179_fm8k.htm

UNITED STATES BANKRUPTCY COURT
NORTHERN DISTRICT OF GEORGIA
NEWNAN DIVISION				Exhibit 99.1


	}	CASE NUMBER
	}	02-10835
	}
The NewPower Company, et. al.	}	JUDGE	W. Homer Drake, Jr.
	}
DEBTORS	}	CHAPTER 11


DEBTOR’S MONTHLY FINANCIAL REPORTS (BUSINESS)

FOR THE PERIOD

12/31/2010 to 1/31/2011

Comes now the above-named debtor and files its Periodic Financial Reports in accordance with the Guidelines established by the
United States Trustee and FRBP 2015.


		Paul Ferdinands
		Attorney for Debtor

Debtor’s Address		Attorney’s Address
and Phone Number		and Phone Number

P.O. Box 17296		191 Peachtree St.
Stamford, Ct 06907		Atlanta, GA 30303
Tel: (203) 329-8412		Tel: (404) 572-4600

NewPower Holdings, Inc.
Case Number: 02-10835	Post Petition
	Totals
For Period from December 31, 2010 thru January 31, 2011

Opening Cash Balance - 12/31/10	$ 367

Inflows:
Customer Collections
Collateral Returned
-Sureties
-Security Deposits
Sale Proceeds/Interest Income/Other
Total Inflows
		Distribution of Outflows
Outflows:		NewPower	The NewPower
Post Petition:		Holdings, Inc.	Company

Professionals - Bankruptcy	7	7
Consulting Fees
Lockbox Fees	1	1
Supplies & Misc
Rent	1	1
Insurance
Utilities (Heat, Hydro, Phone, etc.)	1	1
Payroll (inlcuding tax payments & fees)	10	10
T&E Reimbursements
State Tax Payments
Distribution to Equity
Total Outflows	20	20

Net Cash Flows	(20)

Closing Cash Balance	$ 348

Attachment 1

NewPower Holdings, Inc.
Case Number: 02-10835
Monthly Accounts Receivable Aging and Reconciliation
For Period from December 31, 2010 thru January 31, 2011
Amounts in $000’s


Accounts Receivable at Petition Date:	$	75,200


Beginning of Month Balance* - Gross	$	13,476	(per 12/31/10 G/L)
PLUS: Current Month New Billings	-
LESS: Collections During the Month	-

End of Month Balance - Gross	$	13,476	(per 1/31/11 G/L)
Allowance for Doubtful Accounts	(13,476)

End of Month Balance - Net of Allowance	$	-

Note:	The accounts receivable aging below relates only to deliveries to
	customers subsequent to the June 11, 2002 petition date.



	AR Aging for Post Petition Receivables

	Current		> 30 days	> 60 days	Total

	$ -		$ -	$ 111	$ 111

Attachment 2

NewPower Holdings, Inc.
Case Number: 02-10835
Monthly Accounts Payable and Secured Payments Report
For Period from December 31, 2010 thru January 31, 2011
Amounts in $000’s


See attached System Generated A/P reports as of 1/31/2011 (Attachments 2A and 2B).


Beginning of Period Balance	$	56	(per 12/31/10 G/L)
PLUS: New Indebtedness Incurred	12
LESS: Amounts Paid on A/P	(12		)

End of Month Balance	$	56	(per 1/31/11 G/L)

Exhibit 2A

The New Power Company

Vendor Balance Detail

As of January 31, 2011


		Type	Date	Amount	Balance
	AT&T				0.00
		Bill	01/02/2011	348.60	348.60
		Bill Pmt -Check	01/02/2011	-348.60	0.00
		Bill	01/27/2011	184.75	184.75
		Bill Pmt -Check	01/27/2011	-184.75	0.00
	Total AT&T			0.00	0.00
	D'Arcangelo & Co. LLP				0.00
		Bill	01/02/2011	6,000.00	6,000.00
		Bill Pmt -Check	01/02/2011	-6,000.00	0.00
	Total D'Arcangelo & Co. LLP			0.00	0.00
	epiq Systems				0.00
		Bill	01/02/2011	365.93	365.93
		Bill Pmt -Check	01/02/2011	-365.93	0.00
		Bill	01/27/2011	747.98	747.98
		Bill Pmt -Check	01/27/2011	-747.98	0.00
	Total epiq Systems			0.00	0.00
	Iron Mountain Off-Site Data Protection				0.00
		Bill	01/02/2011	609.62	609.62
		Bill Pmt -Check	01/02/2011	-609.62	0.00
	Total Iron Mountain Off-Site Data Protection			0.00	0.00
	JPMorgan Chase				0.00
		Bill	01/27/2011	1,692.07	1,692.07
		Bill Pmt -Check	01/27/2011	-1,692.07	0.00
	Total JPMorgan Chase			0.00	0.00
	Kaster Moving Co. Inc.				0.00
		Bill	01/02/2011	82.50	82.50
		Bill Pmt -Check	01/02/2011	-82.50	0.00
	Total Kaster Moving Co. Inc.			0.00	0.00
	National Registered Agents, Inc				0.00
		Bill	01/27/2011	66.00	66.00
		Bill Pmt -Check	01/27/2011	-66.00	0.00
	Total National Registered Agents, Inc			0.00	0.00
	U.S. Trustee Program Payment Center				0.00
		Bill	01/27/2011	1,300.00	1,300.00
		Bill Pmt -Check	01/27/2011	-1,300.00	0.00
	Total U.S. Trustee Program Payment Center			0.00	0.00
TOTAL				0.00	0.00

Exhibit 2B

The New Power Company

Unpaid Vendor Balances

January 31, 2010

		Balance


Franchise Tax Liability		55,465.82
Payroll Tax Liablility		4,462.00
		59,927.82

Attachment 3

NewPower Holdings, Inc.

Case Number: 02-10835

Inventroy and Fixed Assets Report

For Period from December 31, 2010 thru January 31, 2011

Amounts in $000's

Inventory Report

Inventory Balance at Petition Date	$ 15,587


Inventory at Beginning of Period	$ -	(per 12/31/10 G/L)
PLUS: Inventrory Purchased	-
LESS: Inventory Used or Sold	-

End of Month Balance	$ -	(per 1/31/11 G/L)


Inventory is generally costed at the lower of cost or market. By the end of July 2002 we had sold
all of our gas inventory either to retail customers or financial buyers as part of our asset sales.

Fixed Asset Report

Book Value at Petition Date	$ 1,238

Our fixed assets at petition date consisted of office furniture and equipment. These assets
were transferred to our lessor in June 2002 as part of the settlement of our lease obligation.

Fixed Assets at Beginning of Period	$ -
Less: Depreciation Expense	-
Less: Dispositions	-
Add: Purchases	-

Fixed Assets at End of Period	$ -

Attachment 4

Page 8 of 15

Name of Debtor :	NewPower Holdings Inc.
Case # :	02-10835
Reporting Period:	1/01/2011-1/31/2011

Name of Bank:	JP Morgan Chase
Branch:	New York ABA # 021000021
Account Name:	The New Power Company Concentration Account

Account Number:
Purpose of Account:	Concentration Account

Beginning Balance	$ 22,057.22
Total Deposits	$ 25,000.00	Transfer from Money Market
Total Payments	$ 18,793.29	Transfer to Manual Checking of
Closing Balance	$ 28,263.93


Electronic Payments issued this Period
Last Payment issued this Period
Total # of payments this Period			0

Attachment 4

Page 9 of 15

Name of Debtor :	NewPower Holdings Inc.
Case # :	02-10835
Reporting Period:	1/01/2011-1/31/2011


Name of Bank:	JP Morgan Chase

Branch:	New York ABA # 021000021
Account Name:	The New Power Company
Account Number:
Purpose of Account:	Money Market

Beginning Balance	$ 347,258.43
Total Deposits	$ 14.52	Interest Income
Total Payments	$ 27,208.08	Payroll Taxes and transfer to Concentration of $25,000
Closing Balance	$ 320,064.87
Service Charges	$ -

First Check issued this Period		N/A
Last Check issued this Period		N/A
Total # of checks issued this Period		N/A

Attachment 4

Page 10 of 15

Name of Debtor :	NewPower Holdings Inc.
Case # :	02-10835
Reporting Period:	1/01/2011-1/31/2011

Name of Bank:	JP Morgan Chase
Branch:	Syracuse, NY
Account Name:	The New Power Company
Account Number:
Purpose of Account:	Controlled Disbursements (A/P)


Beginning Balance	$ 0.00
Total Deposits	$ 18,793.29	Transfer from Concentration
Total Payments	$ (18,793.29)
Closing Balance	$ 0.00
Service Charges	N/A

First Check issued this Period		201378
Last Check issued this Period		201390
Voided Checks		1
Total # of checks issued this Period		12

Exhibit 5

The New Power Company
Check Detail
January 2011

Num	Date	Name	Amount

Dir dep	01/14/2011	M. Patricia Foster	3,716.24
Dir dep	01/31/2011	M. Patricia Foster	3,716.24
201378	01/02/2011	AT&T	348.60
201380	01/02/2011	epiq Systems	365.93
201381	01/02/2011	Iron Mountain Off-Site Data Protection	609.62
201382	01/02/2011	Kaster Moving Co. Inc.	82.50
201383	01/02/2011	Ms. Patricia Foster	450.00
201384	01/02/2011	CT Commissioner of Revenue Services	504.16
wire	01/02/2011	United States Treasury	2,208.08
201385	01/02/2011	D'Arcangelo & Co. LLP	6,000.00
201386	01/27/2011	AT&T	184.75
201387	01/27/2011	epiq Systems	747.98
201388	01/27/2011	JPMorgan Chase	1,692.07
201389	01/27/2011	National Registered Agents, Inc	66.00
201390	01/27/2011	U.S. Trustee Program Payment Center	1,300.00

Attachment 6

NewPower Holdings, Inc.
Case Number: 02-10835
Monthly Tax Report
For Period from December 31, 2010 thru January 31, 2011
Amounts in $000's


Taxes Paid During the Month


Employment Taxes	2.8
Connecticut State Tax	0.5



Taxes Owed and Due

Payroll Tax Liability	4.4

Attachment 7A

NewPower Holdings, Inc.
Case Number: 02-10835
Summary of Officer Compensation / Summary of Personnel and Insurance Coverages
For Period from December 31, 2010 thru January 31, 2011
Amounts in $000's



Summary of Officer Compensation

See supplemental attachment.

Personnel Report
	Full Time	Part Time
# of Employees at beginning of period		1
# hired during the period	-	-
# terminated/resigned during period	-	-
# employees on payroll - end of period	0	1

# of employees on temporary consulting assignments		0

Confirmation of Insurance

See supplemental attachment. *

* Omitted

Attachment 7B

(Supplemental)

Payments made to insiders 1/01/11-1/31/2011

Payments are in gross amts

	Title	Amount	Date	Type

M. Patricia Foster	President & CEO	$ 5,208.33	1/15/2011	Salary for pay period 1/01 - 1/15
		$ 5,208.33	1/31/2011	Salary for pay period 1/16 - 1/31

		$ 10,416.67

Attachment 8

NewPower Holdings, Inc.

Case Number: 02-10835

Significant Developments During Reporting Period

For Period from December 31, 2010 thru January 31, 2011

none

NEWPOWER HOLDINGS INC - FORM 8-K - EX-99.1 - February 23, 2011

Attached files