Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - IMAGENETIX INC /NV/ | v333450_8k.htm |
Exhibit 99.1
| OFFICE OF THE UNITED STATES TRUSTEE | |||||
| SOUTHERN DISTRICT OF CALIFORNIA | |||||
| In Re: | CHAPTER 11 (BUSINESS) | ||||
| IMAGENETIX, INC., | CASE NO. _ 12-16423 MM11 | ||||
| OPERATING REPORT NO. 1 | |||||
| Debtor(s). | FOR THE MONTH ENDING: | ||||
| 12/31/2012 | |||||
| I. CASH RECEIPTS AND DISBURSEMENTS | ||||||||
| A. (GENERAL ACCOUNT*) | ||||||||
| 1. TOTAL RECEIPTS PER ALL PRIOR GENERAL ACCOUNT REPORTS | $ | - | ||||||
| 2. LESS: TOTAL DISBURSEMENTS PER ALL PRIOR GENERAL | ||||||||
| ACCOUNT REPORTS | $ | - | ||||||
| 3. BEGINNING BALANCE | $ | - | ||||||
| 4. RECEIPTS DURING CURRENT PERIOD: | ||||||||
| ACCOUNTS RECEIVABLE - PRE-FILING | $ | 36,257.55 | ||||||
| ACCOUNTS RECEIVABLE - POST-FILING | $ | - | ||||||
| GENERAL SALES | $ | 240.00 | ||||||
| OTHER (SPECIFY) _Pre-petition cash balances transferred___________________ | $ | 18,372.09 | ||||||
| OTHER ** (SPECIFY) _See page 1 disclosure attached | $ | 54,211.50 | ||||||
| TOTAL RECEIPTS THIS PERIOD: | $ | 109,081.14 | ||||||
| 5. BALANCE: | $ | 109,081.14 | ||||||
| 6. LESS: TOTAL DISBURSEMENTS DURING CURRENT PERIOD | ||||||||
| TRANSFERS TO OTHER DIP ACCOUNTS | $ | - | ||||||
| DISBURSEMENTS | $ | 2,296.02 | ||||||
| TOTAL DISBURSEMENTS THIS PERIOD***: | $ | 2,296.02 | ||||||
| 7. ENDING BALANCE: | $ | 106,785.12 | ||||||
| 8. GENERAL ACCOUNT NUMBER ____xxxxxx8451__________________________ | ||||||||
DEPOSITORY NAME AND LOCATION _California Bank & Trust, 16796 Bernardo Center Dr.,
| San Diego, CA 92128 |
| * | All receipts must be deposited into the general account. |
| ** | Include receipts from the sale of any real or personal property out of the ordinary course of business; attach an exhibit specifying what was sold, to whom, terms, and date of Court Order or Report of Sale. |
| *** | This amount should be the same as the total from page 2. |
IX. BALANCE SHEET
(ACCRUAL BASIS ONLY)
| Current Month End | ||||||||
| ASSETS | ||||||||
| Current Assets: | ||||||||
| Unrestricted Cash | $ | 106,785.12 | ||||||
| Restricted Cash | ||||||||
| Accounts Receivable | $ | 405,699.10 | ||||||
| Inventory | $ | 22,488.00 | ||||||
| Notes Receivable | ||||||||
| Prepaid Expenses | ||||||||
| Other (Itemize) | ||||||||
| Total Current Assets | $ | 534,972.22 | ||||||
| Property, Plant, and Equipment | $ | 254,873.45 | ||||||
| Accumulated Depreciation/Depletion | $ | (238,082.56 | ) | |||||
| Net Property, Plan, and Equipment | $ | 16,790.89 | ||||||
| Other Assets (Net of Amortization): | ||||||||
| Due from Insiders | ||||||||
| Other (Itemized) See page 12 disclosure attached | $ | 69,230.90 | ||||||
| Total Other Assets | $ | 69,230.90 | ||||||
| TOTAL ASSETS | $ | 620,994.01 | ||||||
| LIABILITIES | ||||||||
| Post-Petition Liabilities: | ||||||||
| Accounts Payable | ||||||||
| Taxes Payable | ||||||||
| Notes Payable | ||||||||
| Professional Fees | ||||||||
| Secured Debt | ||||||||
| Other (Itemized) See page 12 disclosure attached | $ | 13,401.71 | ||||||
| Total Post-Petition Liabilities | $ | 13,401.71 | ||||||
| Pre-Petition Liabilities: | ||||||||
| Secured Liabilities | $ | 4,681,134.23 | ||||||
| Priority Liabilities | $ | 1,895.00 | ||||||
| Unsecured Liabilities | $ | 949,628.01 | ||||||
| Other (Itemized) See page 12 disclosure attached | $ | 21,039.60 | ||||||
| Total Pre-Petition Liabilities | $ | 5,653,696.84 | ||||||
| TOTAL LIABILITIES | $ | 5,667,098.55 | ||||||
| EQUITY: | ||||||||
| Pre-Petition Owners' Equity | $ | (5,337,578.31 | ) | |||||
| Post-Petition Profit/(Loss) | $ | 291,473.77 | ||||||
| Direct Charges to Equity | ||||||||
| TOTAL EQUITY | $ | (5,046,104.54 | ) | |||||
| TOTAL LIABILITIES & EQUITY | $ | 620,994.01 | ||||||
IX. PROFIT AND LOSS STATEMENT
(ACCRUAL BASIS ONLY)
| Current Month | Cumulative Post-Petition | |||||||
| Sales/Revenue: | ||||||||
| Gross Sales/Revenue | $ | 252,960.00 | $ | 252,960.00 | ||||
| Less: Returns/Discounts | (_____ | ) | (_____ | ) | ||||
| Net Sales/Revenue | $ | 252,960.00 | $ | 252,960.00 | ||||
| Cost of Goods Sold: | ||||||||
| Beginning Inventory at cost | $ | 22,488.00 | $ | 22,488.00 | ||||
| Purchases | $ | - | $ | - | ||||
| Less: Ending Inventory at cost | $ | (22,488.00 | ) | $ | (22,488.00 | ) | ||
| Cost of Goods Sold (COGS) | $ | - | $ | - | ||||
| Gross Profit | $ | 252,960.00 | $ | 252,960.00 | ||||
| Other Operating Income (Itemize) | ||||||||
| Operating Expenses: | ||||||||
| Payroll - Insiders | ||||||||
| Payroll - Other Employees | ||||||||
| Payroll Taxes | ||||||||
| Other Taxes (Itemize) | ||||||||
| Depreciation and Amortization | ||||||||
| Rent Expense - Real Property | ||||||||
| Lease Expense - Personal Property | ||||||||
| Insurance | ||||||||
| Real Property Taxes | ||||||||
| Telephone and Utilities | $ | 2,296.02 | $ | 2,296.02 | ||||
| Repairs and Maintenance | ||||||||
| Travel and Entertainment (Itemize) | ||||||||
| Miscellaneous Operating Expenses (Itemize) | ||||||||
| Total Operating Expenses | $ | (2,296.02 | ) | $ | (2,296.02 | ) | ||
| Net Gain/(Loss) from Operations | $ | 250,663.98 | $ | 250,663.98 | ||||
| Non-Operating Income: | ||||||||
| Interest Income | ||||||||
| Net Gain on Sale of Assets (Itemize) | ||||||||
| Other (Itemize) | $ | 42,899.00 | $ | 42,899.00 | ||||
| Total Non-Operating Income | $ | 42,899.00 | $ | 42,899.00 | ||||
| Non-Operating Expense: | ||||||||
| Interest Expense | $ | 2,089.21 | $ | 2,089.21 | ||||
| Legal and Professional (Itemize) | ||||||||
| Other (Itemize) | ||||||||
| Total Non-Operating Expenses | $ | (2,089.21 | ) | $ | (2,089.21 | ) | ||
| NET INCOME/(LOSS) | $ | 291,473.77 | $ | 291,473.77 | ||||
(Attach exhibit listing all itemizations required above)