Attached files
| file | filename |
|---|---|
| 8-K - CAPITAL GROWTH SYSTEMS INC /FL/ | v219641_8k.htm |
Case No. 10-12302 PJW
Reporting Period: February 1 through February 28, 2011
Capital Growth Systems, Inc.
Consolidating Statement of Operations
for the month of February 2011
|
Consolidated Total
|
||||
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INCOME STATEMENT
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||||
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Revenues
|
$ | 4,433,336 | ||
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Cost of Revenues
|
$ | 3,333,529 | ||
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Gross Margin
|
$ | 1,099,807 | ||
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OPERATING EXPENSES
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||||
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Compensation
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$ | 859,153 | ||
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Travel and entertainment
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$ | 159,519 | ||
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Occupancy
|
$ | 79,087 | ||
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Professional services
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$ | 112,202 | ||
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Insurance
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$ | 16,791 | ||
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Restructuring Expenses
|
$ | 221,738 | ||
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Other
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$ | 104,329 | ||
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Selling, general, and administrative expenses
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$ | 1,552,819 | ||
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EBITDA
|
$ | (453,012 | ) | |
|
Bad Debt Expense (Recovery)
|
$ | 15,000 | ||
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Depreciation
|
$ | 27,816 | ||
|
Amortization
|
$ | 196,253 | ||
|
Operating Income (Loss)
|
$ | (692,081 | ) | |
|
Interest Expense
|
$ | 974,733 | ||
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Income tax expense (benefit)
|
$ | 2,876 | ||
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NET INCOME (LOSS)
|
$ | (1,669,690 | ) | |
Case No. 10-12302 PJW
Reporting Period: February 1 through February 28, 2011
Capital Growth Systems, Inc.
Consolidating Statement of Operations
for the two months ending February 28, 2011
|
Consolidated Total
|
||||
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INCOME STATEMENT
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||||
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Revenues
|
$ | 8,740,946 | ||
|
Cost of Revenues
|
$ | 6,565,615 | ||
|
Gross Margin
|
$ | 2,175,331 | ||
|
OPERATING EXPENSES
|
||||
|
Compensation
|
$ | 1,643,719 | ||
|
Travel and entertainment
|
$ | 251,682 | ||
|
Occupancy
|
$ | 157,956 | ||
|
Professional services
|
$ | 212,708 | ||
|
Insurance
|
$ | 83,120 | ||
|
Restructuring Expenses
|
$ | 472,128 | ||
|
Other
|
$ | 171,209 | ||
|
Selling, general, and administrative expenses
|
$ | 2,992,522 | ||
|
EBITDA
|
$ | (817,191 | ) | |
|
Bad Debt Expense (Recovery)
|
$ | 15,000 | ||
|
Depreciation
|
$ | 59,249 | ||
|
Amortization
|
$ | 392,506 | ||
|
Operating Income (Loss)
|
$ | (1,283,946 | ) | |
|
Interest Expense
|
$ | 2,406,884 | ||
|
Income tax expense (benefit)
|
$ | 4,540 | ||
|
NET INCOME (LOSS)
|
$ | (3,695,370 | ) | |
Case No. 10-12302 PJW
Reporting Period: February 1 through February 28, 2011
Capital Growth Systems, Inc.
Summary of All Units
For the Month Ending February 28, 2011
|
Consolidated Total
|
||||
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BALANCE SHEET
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||||
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Current Assets
|
||||
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Cash
|
$ | 1,458,230 | ||
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Accounts Receivable, net
|
$ | 5,320,277 | ||
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Other Current Assets
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$ | 4,342,193 | ||
|
Total Current Assets
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$ | 11,120,700 | ||
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Fixed Assets, gross
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$ | 3,830,028 | ||
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Accumulated Depreciation
|
$ | (3,162,746 | ) | |
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Fixed Assets, net
|
$ | 667,282 | ||
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Other Assets
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||||
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Other Assets
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$ | 201,888 | ||
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Intangible Assets
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$ | 13,714,129 | ||
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Goodwill
|
$ | 1,479,649 | ||
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Total Assets
|
$ | 27,183,648 | ||
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Current Liabilities
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||||
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Current maturities of debt
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$ | 26,296,307 | ||
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Post-Petition Accounts Payable
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$ | 5,224,333 | ||
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Pre-Petition Accounts Payable
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$ | 14,145,159 | ||
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Post-Petition Accrued Expenses
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$ | 519,764 | ||
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Pre-Petition Accrued Expenses
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$ | 5,149,559 | ||
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Deferred Revenue - Short Term
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$ | 3,160,744 | ||
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Total Current Liabilities
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$ | 54,495,866 | ||
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Long-term Liabilities
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||||
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Debt
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$ | 10,473,276 | ||
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Taxes
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$ | 67,000 | ||
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Total Long-term Liabilities
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$ | 10,540,276 | ||
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Total Liabilities
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$ | 65,036,142 | ||
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Shareholders' Equity
|
||||
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Common stock
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$ | 17,015 | ||
|
Additional Paid in Capital
|
$ | 91,531,086 | ||
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Retained Earnings, beginning of year
|
$ | (125,396,649 | ) | |
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Cumulative (gain) loss on currency translation
|
$ | (308,576 | ) | |
|
Current Year Retained Earnings Inc/Loss
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$ | (3,695,370 | ) | |
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Total Equity
|
$ | (37,852,494 | ) | |
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Total Liabilities and Shareholders' Equity
|
$ | 27,183,648 | ||
Case No. 10-12302 PJW
Reporting Period: February 1 through February 28, 2011
Capital Growth Systems, Inc.
Consolidated AP Aging Report (post-petition)
As of 2/28/2011
|
Current
|
1-30 | 31-60 | 61-90 |
Over 90
|
Total
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|||||||||||||||||||
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Total Accounts Payable
|
$ | 5,000 | $ | 909,343 | $ | 1,656,055 | $ | 667,796 | $ | 1,893,520 | $ | 5,131,715 | ||||||||||||
Case No. 10-12302 PJW
Reporting Period: February 1 through February 28, 2011
Capital Growth Systems, Inc.
Consolidated AR Aging Report (Gross Receivables)
As of 2/28/2011
|
Current
|
1-30 Days
|
31 - 60 Days
|
61+ |
Total
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||||||||||||||||
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Total Accounts Receivables
|
$ | 1,778,086 | $ | 1,508,874 | $ | 192,858 | $ | 2,401,562 | $ | 5,881,379 | ||||||||||