Attached files
| file | filename |
|---|---|
| 8-K - CAPITAL GROWTH SYSTEMS INC /FL/ | v217087_8k.htm |
| EX-99.1 - CAPITAL GROWTH SYSTEMS INC /FL/ | v217087_ex99-1.htm |
| EX-99.4 - CAPITAL GROWTH SYSTEMS INC /FL/ | v217087_ex99-4.htm |
| EX-99.3 - CAPITAL GROWTH SYSTEMS INC /FL/ | v217087_ex99-3.htm |
Case No. 10-12302 PJW
Reporting Period: November 1 through November 30, 2010
Capital Growth Systems, Inc.
Consolidating Statement of Operations
for the eleven months ended November 2010
|
Consolidated
Total
|
||||
|
INCOME STATEMENT
|
||||
|
Revenues
|
$ | 51,604,653 | ||
|
Cost of Revenues
|
$ | 38,314,049 | ||
|
Gross Margin
|
$ | 13,290,605 | ||
|
OPERATING EXPENSES
|
||||
|
Compensation
|
$ | 9,698,423 | ||
|
Travel and entertainment
|
$ | 1,066,637 | ||
|
Occupancy
|
$ | 2,064,294 | ||
|
Professional services
|
$ | 4,257,118 | ||
|
Insurance
|
$ | 244,986 | ||
|
Restructuring Expenses
|
$ | 3,962,365 | ||
|
Other
|
$ | 265,932 | ||
|
Selling, general, and administrative expenses
|
$ | 21,559,754 | ||
|
EBITDA
|
$ | (8,838,469 | ) | |
|
Bad Debt Expense (Recovery)
|
$ | 569,319 | ||
|
Depreciation
|
$ | 334,514 | ||
|
Amortization
|
$ | 2,158,783 | ||
|
Operating Income (Loss)
|
$ | (11,331,766 | ) | |
|
Interest Expense
|
$ | 18,495,727 | ||
|
(Gain)/Loss on Warrants & Derivatives
|
$ | (46,173,477 | ) | |
|
(Gain)/Loss on Extinguishment of Debt
|
$ | 272,677 | ||
|
Income tax expense (benefit)
|
$ | 28,206 | ||
|
NET INCOME (LOSS)
|
$ | 16,045,101 | ||
Case No. 10-12302 PJW
Reporting Period: November 1 through November 30, 2010
Capital Growth Systems, Inc.
Consolidating Statement of Operations
for the month of November 2010
|
Consolidated
Total
|
||||
|
INCOME STATEMENT
|
||||
|
Revenues
|
$ | 4,535,946 | ||
|
Cost of Revenues
|
$ | 3,402,763 | ||
|
Gross Margin
|
$ | 1,133,184 | ||
|
OPERATING EXPENSES
|
||||
|
Compensation
|
$ | 789,278 | ||
|
Travel and entertainment
|
$ | 57,692 | ||
|
Occupancy
|
$ | 169,386 | ||
|
Professional services
|
$ | (736,842 | ) | |
|
Insurance
|
$ | 15,528 | ||
|
Restructuring Expenses
|
$ | 1,771,569 | ||
|
Other
|
$ | 48,249 | ||
|
Selling, general, and administrative expenses
|
$ | 2,114,860 | ||
|
EBITDA
|
$ | (1,006,676 | ) | |
|
Bad Debt Expense (Recovery)
|
$ | 25,000 | ||
|
Depreciation
|
$ | 28,387 | ||
|
Amortization
|
$ | 196,253 | ||
|
Operating Income (Loss)
|
$ | (1,231,317 | ) | |
|
Interest Expense
|
$ | 1,423,847 | ||
|
NET INCOME (LOSS)
|
$ | (2,655,164 | ) | |
Case No. 10-12302 PJW
Reporting Period: November 1 through November 30, 2010
Capital Growth Systems, Inc.
Summary of All Units
For the Eleven Months Ending November 30, 2010
|
Consolidated
Total
|
||||
|
BALANCE SHEET
|
||||
|
Current Assets
|
||||
|
Cash
|
$ | 1,733,283 | ||
|
Accounts Receivable, net
|
$ | 5,974,244 | ||
|
Other Current Assets
|
$ | 4,215,842 | ||
|
Intercompany Accounts
|
$ | 63,869 | ||
|
Total Current Assets
|
$ | 11,987,238 | ||
|
Fixed Assets, gross
|
$ | 3,827,013 | ||
|
Accumulated Depreciation
|
$ | (3,075,111 | ) | |
|
Fixed Asstes, net
|
$ | 751,902 | ||
|
Other Assets
|
||||
|
Other Assets
|
$ | 300,224 | ||
|
Intangible Assets
|
$ | 14,302,889 | ||
|
Goodwill
|
$ | 1,479,649 | ||
|
Total Assets
|
$ | 28,821,901 | ||
|
Current Liabilities
|
||||
|
Current maturities of debt
|
$ | 22,546,471 | ||
|
Post-Petition Accounts Payable
|
$ | 4,628,712 | ||
|
Pre-Petition Accounts Payable
|
$ | 13,990,875 | ||
|
Post-Petition Accrued Expenses
|
$ | 4,585,373 | ||
|
Pre-Petition Accrued Expenses
|
$ | 4,021,095 | ||
|
Deferred Revenue - Short Term
|
$ | 3,483,508 | ||
|
Total Current Liabilities
|
$ | 53,256,034 | ||
|
Long-term Liabilities
|
||||
|
Debt
|
$ | 9,632,457 | ||
|
Taxes
|
$ | 67,000 | ||
|
Total Long-term Liabilities
|
$ | 9,699,457 | ||
|
Total Liabilities
|
$ | 62,955,491 | ||
|
Shareholders' Equity
|
||||
|
Common stock
|
$ | 17,015 | ||
|
Reserves
|
$ | (57,136 | ) | |
|
Additional Paid in Capital
|
$ | 91,201,768 | ||
|
Retained Earnings, beginning of year
|
$ | (140,794,186 | ) | |
|
Cumulative gain (loss) on currency translation
|
$ | (546,134 | ) | |
|
Current Year Retained Earnings Inc/Loss
|
$ | 16,045,081 | ||
|
Total Equity
|
$ | (34,133,591 | ) | |
|
Total Liabilities and Shareholders' Equity
|
$ | 28,821,901 | ||
Case No. 10-12302 PJW
Reporting Period: November 1 through November 30, 2010
Capital Growth Systems, Inc.
Consolidated AP Aging Report (post-petition)
As of 11/30/2010
|
Current
|
1-30
|
31-60
|
61-90
|
Over 90
|
Total
|
|||||||||||||||||||
|
Total Accounts Payable
|
$ | 1,399,765 | $ | 1,413,235 | $ | 726,179 | $ | 651,207 | $ | 319,323 | $ | 4,509,709 | ||||||||||||
Case No. 10-12302 PJW
Reporting Period: November 1 through November 30, 2010
Capital Growth Systems, Inc.
Consolidated AR Aging Report (Gross Receivables)
As of 11/30/2010
|
Current
|
1-30 Days
|
31 - 60 Days
|
61 + Days
|
Total
|
||||||||||||||||
|
Total Accounts Receivables
|
$ | 3,042,314 | $ | 810,685 | $ | 152,026 | $ | 2,503,071 | $ | 6,508,096 | ||||||||||