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8-K - FORM 8-K - PROFESSIONAL VETERINARY PRODUCTS LTD /NE/ | c63486e8vk.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
02/01/2011 THROUGH 02/28/2011
02/01/2011 THROUGH 02/28/2011
I CERTIFY UNDER PENALTY OF PERJURY THAT THE FOLLOWING CONSOLIDATED OPERATING
REPORT, CONSISTING OF ONE (1) PAGE IS TRUE AND CORRECT.
Date Submitted 3/9/11 | /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 February 1-28, 2011
For Period February 1-28, 2011
Wells Fargo | FNBO | JP Morgan | Fulton Bank | Total | ||||||||||||||||
BEGINNING BALANCE (1/31/11) |
$ | 364,986.41 | $ | 6,054,287.89 | $ | 60,000.00 | $ | 0.00 | $ | 6,479,274.30 | ||||||||||
RECEIPTS: |
||||||||||||||||||||
1. Receipts from AR Collections |
0.00 | 146,405.97 | 0.00 | 0.00 | 146,405.97 | |||||||||||||||
2. Receipts from Bulk Sale of Inventory |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
3. Receipts from Insurance Policies |
0.00 | 2,882,362.89 | 0.00 | 0.00 | 2,882,362.89 | |||||||||||||||
4. Receipts from Sale of De Minimis Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
5. Receipts from Sale of Fixed Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
6. Other Receipts |
0.00 | 1,853,042.18 | 0.00 | 0.00 | 1,853,042.18 | |||||||||||||||
TOTAL RECEIPTS |
0.00 | 4,881,811.04 | 0.00 | 0.00 | 4,881,811.04 | |||||||||||||||
TRANSFERS: |
(344,986.41 | ) | 342,601.63 | 2,384.78 | 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 | 8,923.08 | 0.00 | 0.00 | 8,923.08 | |||||||||||||||
b. Directors |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Subtotal payments to Officers and Directors |
0.00 | 8,923.08 | 0.00 | 0.00 | 8,923.08 | |||||||||||||||
5. Taxes personnel |
||||||||||||||||||||
a. Federal Income Tax |
0.00 | 2,530.68 | 0.00 | 0.00 | 2,530.68 | |||||||||||||||
b. FICA withholdings |
0.00 | 1,602.78 | 0.00 | 0.00 | 1,602.78 | |||||||||||||||
c. Medicare |
0.00 | 446.96 | 0.00 | 0.00 | 446.96 | |||||||||||||||
d. Federal Unemployment |
0.00 | 32.03 | 0.00 | 0.00 | 32.03 | |||||||||||||||
e. State Income Tax |
0.00 | 805.65 | 0.00 | 0.00 | 805.65 | |||||||||||||||
f. State Unemployment |
(220.09 | ) | 490.22 | 0.00 | 0.00 | 270.13 | ||||||||||||||
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 |
(220.09 | ) | 5,908.32 | 0.00 | 0.00 | 5,688.23 | ||||||||||||||
6. Necessary expenses: |
||||||||||||||||||||
Inventory purchases |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Freight and supplies |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Wages, ETO, Commissions, Incentives, Fees |
0.00 | 5,217.16 | 0.00 | 0.00 | 5,217.16 | |||||||||||||||
Benefits |
0.00 | 0.00 | 2,384.78 | 0.00 | 2,384.78 | |||||||||||||||
Professional and Trustee Fees |
0.00 | 19,813.48 | 0.00 | 0.00 | 19,813.48 | |||||||||||||||
Credit card fees |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
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 | 3,481.04 | 0.00 | 0.00 | 3,481.04 | |||||||||||||||
Building Lease |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Equipment Leases and Expenses |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Utilities Expense |
0.00 | 8,315.57 | 0.00 | 0.00 | 8,315.57 | |||||||||||||||
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 |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
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 |
1,468.58 | 15.02 | 0.00 | 0.00 | 1,483.60 | |||||||||||||||
Misc. G&A and Other fees |
0.00 | 26,027.52 | 0.00 | 0.00 | 26,027.52 | |||||||||||||||
Subtotal necessary expenses |
1,468.58 | 62,869.79 | 2,384.78 | 0.00 | 66,723.15 | |||||||||||||||
TOTAL DISBURSEMENTS |
1,248.49 | 77,701.19 | 2,384.78 | 0.00 | 81,334.46 | |||||||||||||||
NET CASH FLOW |
(346,234.90 | ) | 5,146,711.48 | 0.00 | 0.00 | 4,800,476.58 | ||||||||||||||
ENDING BANK BALANCE (2/28/11) |
$ | 18,751.51 | $ | 11,200,999.37 | $ | 60,000.00 | $ | 0.00 | $ | 11,279,750.88 | ||||||||||
BANK BALANCES Per Bank Statement |
$ | 18,751.51 | $ | 11,200,999.37 | $ | 60,000.00 | $ | 0.00 | $ | 11,279,750.88 | ||||||||||
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