Attached files
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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)