Global Geophysical Services Inc - FORM 8-K - EX-99.1 - EXHIBIT 99.1 - August 4, 2014

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Exhibit 99.1
 
 
UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF TEXAS
CORPUS CHRISTI DIVISION
                   
CASE NAME:
AUTOSEIS, INC. ET AL
      
PETITION DATE:
3/25/2014
  
CASE NUMBER:
14-20130
              
                   
                   
MONTHLY OPERATING REPORT SUMMARY FOR MONTH 
June
YEAR
2014
(Amounts in '000s)
                  
                        MONTH
3/25/14 TO 3/31/14
April
May
June
July
Total
REVENUES (MOR-6)
                          2,832
                        37,350
                               23,761
                      13,441
                                  -
                               77,385
INCOME BEFORE INT; DEPREC./TAX (MOR-6)
                        (2,733)
                        (2,440)
                              (14,323)
                       (9,501)
                                  -
                             (28,997)
NET INCOME (LOSS) (MOR-6)
                        (4,040)
                      (19,277)
                              (18,174)
                     (11,924)
                                  -
                             (53,415)
PAYMENTS TO INSIDERS (MOR-9)
                                  -
                             260
                                    322
                           307
                                  -
                                    889
PAYMENTS TO PROFESSIONALS (MOR-9)
                               19
                          1,561
                                 1,449
                        2,987
                                  -
                                 6,016
TOTAL DISBURSEMENTS (MOR-7 and Exhibit A) **
                          5,565
                      117,086
                               24,061
                      22,871
                                  -
                             169,582
 
**The jointly administered Debtors are authorized to file monthly operating reports on a consolidated basis, and have disbursements broken down by case number on Exhibit A attached**
***The original of this document must be filed with the United States Bankruptcy Court***
 
Yes / No
  
REQUIRED INSURANCE MAINTAINED
  
  Are all accounts receivable being collected within terms?
No
  
      AS OF SIGNATURE DATE
EXP.
  Are all post-petition liabilities, including taxes, being paid within terms?
No
  
________________________________
DATE
  Have any pre-petition liabilities been paid?
Yes
  
CASUALTY           YES (X)   NO (  )
4/1/2015
    If so, describe
Payments related to First Day Motions granted
    
LIABILITY            YES (X)   NO (  )
4/1/2015
  Are all funds received being deposited into DIP bank accounts (1)?
No
  
VEHICLE               YES (X)   NO (  )
4/1/2015
  Were any assets disposed of outside the normal course of business?
No
  
WORKER'S            YES (X)   NO (  )
4/1/2015
    If so, describe
      
OTHER                  YES ( X ) NO (  )
4/1/2015
  Are all U.S. Trustee Quarterly Fee Payments current?
Yes
  
   
  What is the status of your Plan of Reorganization?
  
No Plan Filed
  
       
 
ATTORNEY NAME:
Omar Alaniz
  
          I certify under penalty of perjury that the following complete
FIRM NAME:
Baker & Botts
  
         Monthly Operating Report (MOR), consisting of MOR-1 through
ADDRESS:
2001 Ross Avenue
  
         MOR-9 plus attachments, is true and correct, to the best of my knowledge.
       
CITY, STATE, ZIP:
Dallas, TX 75201
  
SIGNED X     /s/ Sean M. Gore   
 TITLE: 
Senior Vice President - Chief Financial Officer
TELEPHONE/FAX:
214.953.6500/214.953.6503
    
    Sean M. Gore     7/30/14
   
(PRINT NAME OF SIGNATORY)
  
DATE
 
MOR-1
Note:
(1) Collections in certain foreign jurisdictions are received locally and used to make payroll for employees and vendors in those foreign jurisdictions
 
 
 
 
   CASE NAME: 
AUTOSEIS, INC. ET AL
  
   CASE NUMBER: 
14-20130
    
 
 
      COMPARATIVE BALANCE SHEETS
(Amounts in '000s)
ASSETS
MONTH
MONTH
MONTH
MONTH
MONTH
  MONTH
 
3/25/14 TO 3/31/14
April
May
June
    
CURRENT ASSETS
            
Cash - U.S. bank accounts
 $                24,465
 $             41,937
 $             37,561
 $             29,044
    
Cash  - non-U.S. bank accounts
                     4,687
                  2,950
                  2,119
                  2,143
    
Restricted cash
                        990
                     990
                     990
                     486
    
Trade Accounts Receivable, Net
                   20,428
                17,099
                15,699
                11,320
    
Unbilled Accounts Receivable
                   19,335
                27,876
                28,989
                29,508
    
Other Accounts Receivable
                          87
                       87
                       87
                       89
    
Inventory:  Lower of Cost or Market
                        107
                     107
                     107
                     107
    
Prepaid Expenses
                     4,093
                  7,048
                  4,547
                  4,028
    
Investments
                            -
                          -
                          -
                          -
    
Mobilization costs, net
                   17,110
                  7,972
                  3,994
                  3,416
    
Other
                        266
                     266
                       15
                       15
    
TOTAL CURRENT ASSETS
                   91,568
              106,331
                94,107
                80,157
                          -
                          -
PROPERTY, PLANT & EQUIP. @ COST
                 340,559
              339,483
              340,271
              330,241
    
Less Accumulated Depreciation
                 267,128
              269,710
              272,209
              261,304
    
NET BOOK VALUE OF PP & E
                   73,431
                69,773
                68,062
                68,937
                          -
                          -
OTHER ASSETS
            
    Tax Deposits
                            -
                          -
                          -
                          -
    
    Investments in Subsidiaries
                            1
                         1
                         1
                         1
    
    Electric Deposit
                            -
                          -
                       30
                       30
    
    Investment in multi-client library, net
                 182,241
              173,832
              166,435
              163,488
    
    Intercompany receivable, net
                   69,366
                78,860
                83,529
                84,972
    
    Goodwill
                   10,967
                10,967
                10,967
                10,967
    
    Intangible assets
                     7,004
                  6,908
                  6,811
                  6,809
    
    Debt issuance costs, net
                     8,940
                  8,571
                  8,168
                  7,762
    
    Deposits and other
                        401
                     422
                     430
                     404
    
TOTAL ASSETS
 $              443,919
 $           455,666
 $           438,540
 $           423,527
 $                       -
 $                       -
 
 
 
<Note 1> The debtor cash balance above is broken out between U.S. bank accounts and non-U.S. bank accounts. The U.S. bank accounts contains the Citibank Argentina account as the funds are controlled by Houston. The U.S. bank account ties to the Ending Cash per Books on MOR8. MOR8 contains information for the current month for all U.S. bank accounts and is broken out into two categories, accounts where the funds are controlled by Houston Corporate office and other U.S. accounts. The Ending Cash per Books for the first subtotal (accounts where the funds are controlled by Houston Corporate office) on MOR8  ties to the Ending Cash per Books - End of Month on MOR7.  MOR7 contains the activity for accounts where the funds are controlled by Houston Corporate office.
 
MOR-2
Revised 07/01/98
 
 
 
 
CASE NAME: 
AUTOSEIS, INC. ET AL
  
CASE NUMBER: 
14-20130
    
 
 
COMPARATIVE BALANCE SHEETS
(Amounts in '000s)
LIABILITIES & OWNER'S
MONTH
MONTH
MONTH
MONTH
MONTH
  MONTH
EQUITY
3/25/14 TO 3/31/14
April
May
June
    
LIABILITIES
            
POST-PETITION LIABILITIES(MOR-4)
$32,785
$172,846
$178,018
$181,434
    
PRE-PETITION LIABILITIES
            
Secured Debt
                 86,498
                 4,386
                 4,081
                 3,776
    
  Federal Income Tax
                           -
                        -
                        -
                        -
    
  FICA/Withholding
                      583
                        -
                        -
                        -
    
  Unsecured Debt
               251,225
             253,312
             253,307
             254,210
    
  Deferred Revenue
                 23,367
                 6,311
                 2,295
                        -
    
  VAT
                   2,330
                 2,595
                 2,595
                 2,595
    
  Trade A/P
                 25,090
               15,769
               13,885
               13,253
    
  Accrued payroll liabilities
                      719
                        -
                        -
                        -
    
  Accrued bond interest
                 10,080
               10,514
               10,514
               10,514
    
  Expense Accruals
                 10,495
                 3,108
                 2,833
                 3,726
    
  Other
      
                        -
    
TOTAL PRE-PETITION LIABILITIES
               410,387
             295,995
             289,510
             288,073
    
TOTAL LIABILITIES
               443,172
             468,841
             467,528
$469,507
                        -
                        -
OWNER'S EQUITY (DEFICIT)
            
  PREFERRED STOCK
                           -
                        -
                        -
                        -
    
  COMMON STOCK
                      500
                    500
                    500
                    500
    
  ADDITIONAL PAID-IN CAPITAL
               174,813
             175,531
             176,230
             176,841
    
  RETAINED EARNINGS:  Filing Date
              (170,526)
           (165,889)
           (164,227)
           (169,905)
    
  RETAINED EARNINGS: Post Filing Date
(4,040)
             (23,317)
             (41,491)
             (53,415)
    
TOTAL OWNER'S EQUITY (NET WORTH)
747
             (13,174)
             (28,988)
             (45,980)
                        -
                        -
TOTAL LIABILITIES & OWNERS EQUITY
$443,919
$455,666
$438,540
$423,527
 $                     -
 $                     -
 
 
MOR-3
Revised 07/01/98
 
 
 
 
   CASE NAME:
AUTOSEIS, INC. ET AL
  
   CASE NUMBER:
14-20130
    
 
 
 
SCHEDULE OF POST-PETITION LIABILITIES
(Amounts in '000s)
 
MONTH
MONTH
MONTH
MONTH
MONTH
  MONTH
 
3/25/14 TO 3/31/14
April
May
June
    
TRADE ACCOUNTS PAYABLE
 $                  2,559
 $              3,097
 $              1,975
 $              4,235
    
TAX PAYABLE
            
  Federal and State Payroll Taxes
                        389
                    942
                    941
                    873
    
  Ad Valorem Taxes
                        173
                    184
                    184
                    336
    
  Other Taxes
                            -
                        -
                        -
                        -
    
SECURED DEBT POST-PETITION
                   25,000
             151,881
             151,881
             151,881
    
ACCRUED INTEREST PAYABLE
                        602
                      47
                      47
                      47
    
ACCRUED PROFESSIONAL FEES* (1)
                            -
                      13
                 5,331
                 5,827
    
OTHER  ACCRUED LIABILITIES
            
 
VAT
                          96
                    468
                    380
                 1,218
    
 
Deferred Revenue
                     1,669
                 4,207
                 6,684
                 7,693
    
 
Accrued payroll liabilities
                        480
                 1,672
                 1,226
                 1,289
    
 
Expense Accruals
                     1,817
               10,335
                 9,369
                 8,035
    
               
TOTAL POST-PETITION LIABILITIES (MOR-3)
 $                32,785
 $          172,846
 $          178,018
 $          181,434
 $                     -
 $                     -
*Payment requires Court Approval
 
(1) The Company incurred $530 thousand of post-petition professional fees not accrued in March or April and recorded in May. Additionally, the Company incurred $5.04 million of post-petition professional fees not accrued in April and recorded in May or June and $97 thousand of post-petition of post-petition professional fees not accrued in May and recorded in June.
 
MOR-4
Revised 07/01/98
 
 
 
 
CASE NAME: 
AUTOSEIS, INC. ET AL
  
CASE NUMBER: 
14-20130
  
 
AGING OF POST-PETITION LIABILITIES
MONTH   June 2014
(Amounts in '000s)
DAYS
TOTAL
TRADE
FEDERAL AND STATE
AD VALOREM,
                                                                   MONTH
   
ACCOUNTS
PAYROLL TAXES
OTHER TAXES
OTHER
0-30
 $                         5,199
 $                         3,990
 $                              873
 $                           336
 $                                -
31-60
22
22
      
61-90
0
220 (1)
      
91+
3
3
      
TOTAL
 $                         5,224
 $                         4,015
 $                              873
 $                           336
 $                                -
 
 
 
AGING OF ACCOUNTS RECEIVABLE
(Amounts in '000s)
           
MONTH
          
 
March 2014
April 2014
May 2014
June 2014
  
 0-30 DAYS
 $                       15,625
 $                         9,564
 $                           9,837
 $                        6,768
  
 31-60 DAYS
                            2,845
                            4,769
                              2,272
                              247
  
 61-90 DAYS
                               118
                               624
                              1,750
                              868
  
 91+ DAYS
                            1,840
                            2,143
                              1,840
                           3,437
  
TOTAL
 $                       20,428
 $                       17,099
 $                         15,699
 $                      11,320
 $                                -
 
 
(1) The $220 thousand of accounts payable in the 61-90 day bucket relates to the portion of the professional fees subject to holdback. The end of the 120 day holdback period for this invoice is 09/05/2014.
 
 
MOR-5
Revised 07/01/98
 
 
 
 
CASE NAME: 
AUTOSEIS, INC. ET AL
  
CASE NUMBER: 
14-20130
  
 
 
          STATEMENT OF INCOME (LOSS)
(Amounts in '000s)
 
MONTH
MONTH
MONTH
MONTH
MONTH
FILING TO
 
3/25/14 TO 3/31/14
April
May
June
  
DATE
REVENUES    (MOR-1)
 $              2,832
 $            37,350
 $            23,761
13,441
  
 $            77,385
TOTAL COST OF REVENUES
                 3,378
               23,982
               18,698
10,182
  
               56,240
GROSS PROFIT
                  (546)
               13,368
                 5,064
                 3,259
                        -
               21,145
OPERATING EXPENSES:
            
    Selling & Marketing
                    110
                 3,961
                 2,461
                 1,145
  
                 7,677
    General & Administrative
                 1,497
                 1,739
                 2,223
                 4,113
  
                 9,572
    Insiders Compensation
                        -
                    260
                    322
                    307
  
                    889
    Professional Fees (1)
                      19
                 1,574
                 6,856
                 4,158
  
               12,607
    Other - Gain on Fixed Asset Disposal
(243)
                  (134)
                    (17)
                  (525)
  
                   (919)
    Other - Multi-Client Amortization
                    804
                 8,408
                 7,541
                 3,562
  
               20,316
TOTAL OPERATING EXPENSES
                 2,187
               15,808
               19,387
               12,760
                        -
               50,142
INCOME BEFORE INT, DEPR/TAX (MOR-1)
(2,733)
               (2,440)
             (14,323)
               (9,501)
                        -
              (28,997)
INTEREST EXPENSE
                    223
                 1,311
                 1,932
                 1,971
  
                 5,438
DEPRECIATION
                    922
                 1,863
                 1,549
                      16
  
                 4,350
OTHER (INCOME) EXPENSE*
                        -
                        -
                    189
                        -
  
                    189
FOREIGN EXCHANGE (GAIN) LOSS
110
                  (373)
                      86
                      19
  
                   (158)
LOSS ON DEBT EXTINGUISHMENT
-
               13,594
                        -
                        -
  
               13,594
OTHER ITEMS**
                        -
                        -
                        -
                        -
  
                         -
TOTAL INT, DEPR & OTHER ITEMS
1,255
               16,395
                 3,757
                 2,006
                        -
               23,413
NET INCOME BEFORE TAXES
               (3,988)
             (18,835)
             (18,080)
             (11,506)
                        -
              (52,410)
INCOME and OTHER TAXES
                      52
                    442
                      94
418
  
                 1,006
NET INCOME (LOSS)  (MOR-1)
 $            (4,040)
 $          (19,277)
 $          (18,174)
 $          (11,924)
 $                     -
 $           (53,416)
Accrual Accounting Required, Otherwise Footnote with Explanation.
*   Footnote Mandatory.
* * Unusual and/or infrequent item(s) outside the ordinary course of business requires footnote.
 
(1) For March 25-31, the Company incurred an additional $530 thousand of professional fees not reflected in the March period above.  For April, $1.3 million of the $1.5 million relates to professional fees incurred in prior periods. In addition, for April the Company incurred $4.1 million of professional fees during April not reflected in the April period above. The May professional fee amount includes $4.2 million of professional fees related to prior periods.  The June professional fee amount includes $1.0 million of professional fees related to prior periods.
 
MOR-6
Revised 07/01/98
 
 
 
 
CASE NAME: 
AUTOSEIS, INC. ET AL
  
CASE NUMBER: 
14-20130
  
 
 
(Amounts in '000s)
CASH RECEIPTS AND
 MONTH
 MONTH
 MONTH
 MONTH
 MONTH
 FILING TO
DISBURSEMENTS
 3/25/14 TO 3/31/14
 April
 May
 June
  
 DATE
  1. CASH-BEGINNING OF MONTH / PERIOD
 $              2,431
 $          23,451
 $          41,937
 $          36,830
 $          28,214
 $                                    2,431
RECEIPTS:
            
  2.  CASH RECIEPTS FROM REGIONS
                    680
               1,225
                  595
    
                                       2,500
  3.  CASH RECEIPTS FROM CUSTOMERS
                 1,674
             10,599
             18,486
             14,050
  
                                     44,809
  4.  PROCEEDS FROM DIP FUNDING
               24,232
           123,019
      
                                   147,251
  5.  SALE OF ASSETS
                        -
                      -
      
                                              -
  6.  OTHER (attach list)
                        -
                      -
      
                                              -
TOTAL RECEIPTS**
               26,586
           134,843
             19,081
             14,050
                      -
                                   194,560
(Withdrawal) Contribution by Individual Debtor MFR-2*
                        -
        
                                              -
DISBURSEMENTS:
            
  7.  CASH REQUESTS FROM REGIONS
                 3,175
               2,687
               7,506
               7,378
  
                                     20,746
  8.  PAYROLL, PER DIEM & BENEFITS
                        -
               5,229
               4,021
               3,739
  
                                     12,988
  9.  PAYROLL IOM (ISLE OF MAN)
                        -
                  890
                  877
                  974
  
                                       2,741
10.  ACCOUNTS PAYABLE (POST PETITION ONLY)
                    150
               6,602
               6,874
               6,039
  
                                     19,665
11.  SENIOR DEBT INTEREST
                 2,222
                      -
                      -
                      -
  
                                       2,222
12.  INTEREST/FEES ON ADDITIONAL DEBT
                        -
                  431
               1,419
               1,466
  
                                       3,316
13.  BANKRUPTCY RELATED PAYMENTS (PRE PETITION ONLY) ***
                        -
               6,820
               1,280
                  287
  
                                       8,387
14.  INSURANCE PAYMENTS
                        -
               1,040
                  635
                      -
  
                                       1,676
15. TPG LOAN PAYMENT
  
             91,881
                      -
                      -
  
                                     91,881
16.  OTHER (attach list)
                        -
                      -
                      -
                      -
  
                                              -
TOTAL DISBURSEMENTS FROM OPERATIONS
                 5,547
           115,580
             22,611
             19,883
                      -
                                   163,621
17.  DEBTOR PROFESSIONAL FEES
                        -
                  883
                  434
               2,188
  
                                       3,505
18.  DIP LENDER PROFESSIONAL FEES
                     19
                  621
                  740
                  638
  
                                       2,017
19.  SENIOR LENDER PROFESSIONAL FEES
                        -
                      -
                      -
                      -
  
                                              -
20.  UNSECURED CREDITORS COMMITTEE PROFESSIONAL FEES
                        -
                      -
                  262
                  161
  
                                          423
21.  U.S. TRUSTEE FEES
                        -
                     2
                   13
    
                                           15
22.  OTHER REORGANIZATION EXPENSES (attach list)
                        -
                      -
                      -
    
                                              -
TOTAL DISBURSEMENTS**
                 5,565
           117,086
             24,061
             22,871
                      -
                                   169,582
23.  NET CASH FLOW
               21,021
             17,757
             (4,979)
             (8,821)
                      -
                                     24,978
24.  CASH - END OF MONTH
 $            23,451
 $          41,208
 $          36,957
 $          28,009
 $          28,214
 $                                  27,408
24.  ADJUSTMENTS RELATED TO PRIOR PERIODS
                        -
                  157
                (133)
                  106
  
                                          130
25.  UNRECORDED DISBURSEMENTS / DISBURSEMENTS RECORDED IN PRIOR PERIOD
                        -
                  572
                   14
                   99
  
                                          685
26. UNRECORDED RECEIPTS / RECEIPTS RECORDED IN PRIOR PERIOD
-
                      -
                    (8)
      
27.  ENDING CASH PER BOOKS - END OF MONTH (MOR-8)
 $            23,451
 $          41,937
 $          36,830
 $          28,214
 $          28,214
 $                                  28,223
 
 * Applies to Individual debtors only
 **Numbers for the current month should balance (match)
      RECEIPTS and CHECKS/OTHER DISBURSEMENTS lines on MOR-8
***Pre-petition Bankruptcy related payment include payments under Critical Vendor (including Logistics & 503(b)(9) claims), Foreign Vendors, & Wage motion relief related payments
 
[NOTE 1] Cash balance includes accounts where the funds are controlled by Houston Corporate office
[NOTE 2] Receipts and Disbursements include amounts received and sent from Houston Corporate Office
[NOTE 3] May ‘Cash Requests from Regions’ was understated by 53k and, accordingly, ‘Payroll, Per Diem & Benefits’ was overstated by 53k due to clerical error which incorrectly classified funds transferred to the U.S. Land account.
[NOTE 4]  MOR 7 contains the activity for accounts where the funds are controlled by Houston Corporate office. The Ending Cash per Books - End of Month above ties to the Ending Cash per Books for the first subtotal (accounts where the funds are controlled by Houston Corporate office) on MOR8.  MOR8 contains information for the current month for all U.S. bank accounts and is broken out into two categories, accounts where the funds are controlled by Houston Corporate office and other U.S. accounts. The total Ending Cash per Books on MOR8 ties to the Cash - U.S. bank accounts on MOR2.  MOR2 shows the debtor cash balance and is broken out between U.S. bank accounts and non-U.S. bank accounts.
 
MOR-7
 Revised 07/01/98
 
 
 
 
CASE NAME:
AUTOSEIS, INC. ET AL
  
CASE NUMBER:
14-20130
  
     
     
CASH ACCOUNT RECONCILIATION
PERIOD 06/01/2014 - 06/30/2014
 
(Amounts in '000s)
BANK NAME
  
Bank of America
Bank of America
Bank of America
Bank of America
Bank of America
Bank of America
Bank of America
Bank of America
Bank of America
Bank of America
ACCOUNT NUMBER
  
488 031 266 121
488 031 266 134
488 031 266 147
488 031 266 150
488 031 266 163
488 032 919 590
488 031 266 176
488 035 058 966
488 038 382 972
488 038 414 688
ACCOUNT TYPE
  
Investment
Master
Depository
Operating
Operating
Operating
Operating
Operating
Operating
Operating
BANK BALANCE
  
$ 0
$ 27,865
$ -
$ -
$ -
$ 186
$ -
$ -
$ 44
$ -
DEPOSITS IN TRANSIT
-
-
-
-
-
-
-
-
-
-
OUTSTANDING CHECKS
-
-
-
-
606
-
-
-
-
-
OTHER
  
-
-
  
(134)
(35)
-
-
(4)
24
-
ADJUSTED BANK BALANCE
$ 0
$ 27,865
$ -
$ 134
$ (571)
$ 186
$ -
$ 4
$ 20
$ -
BEGINNING CASH - PER BOOKS
$ 0
$ 36,459
$ (8)
$ 20
$ (611)
$ 141
$ -
$ 1
$ 60
$ -
RECEIPTS* (4)
      
13,472
    
45
    
2
25
TRANSFERS BETWEEN ACCOUNTS (4)
                    
TRANSFERS BETWEEN ACCOUNTS (5)
  
(8,591)
(13,472)
1,515
16,331
    
24
41
(25)
TRANSFERS TO FOREIGN DEBTOR ENTITIES (5)
        
(4,132)
          
TRANSFERS TO FOREIGN NON-DEBTOR ENTITIES (5)
        
(278)
          
TRANSFERS FROM FOREIGN DEBTOR ENTITIES (4)
                    
TRANSFERS FROM FOREIGN NON-DEBTOR ENTITIES (4)
                    
(WITHDRAWAL) OR INDIVIDUAL
    CONTRIBUTION BY DEBTOR MFR-2
                    
CHECKS/OTHER DISBURSEMENTS* (5)
  
(3)
  
(1,601)
(11,714)
    
(21)
(82)
  
ADJUSTMENTS RELATED TO OTHER PERIODS
    
8
200
(167)
        
-
ENDING CASH - PER BOOKS
$ 0
$ 27,865
$ (0)
$ 134
$ (571)
$ 186
$ -
$ 4
$ 20
$ -
UNRECORDED DISBURSEMENTS / DISBURSEMENTS RECORDED IN PRIOR PERIOD (5)
  
(9)
  
(89)
            
UNRECORDED RECEIPTS / RECEIPTS RECORDED IN PRIOR PERIOD (4)
                    
ADJUSTED ENDING CASH - PER BOOKS
$ 0
$ 27,856
$ (0)
$ 45
$ (571)
$ 186
$ -
$ 4
$ 20
$ -
 
*Numbers should balance (match) TOTAL RECEIPTS (Includes transfer
to Corporate) and TOTAL DISBURSEMENTS (includes Foreign .
Transfers) lines on MOR-7.
 
(1) This subtotal represents accounts where the funds are controlled by Houston Corporate office; receipts and disbursements tie to MOR-7
(2) This subtotal contains the Citibank Argentina account as the funds are controlled by Houston Corporate office.
(3) This subtotal represents domestic accounts related to payroll disbursement and operating accounts not directly controlled by Corporate
(4) The sum of these rows for the first subtotal agrees to total receipts on MOR-7
(5) The sum of these rows for the first subtotal agrees to total disbursements on MOR-7
<Note 1> Citi payroll bank account 3074 4174 has been removed from the May MOR8 scheduled and will not be included going forward. This bank account is a non-debtor bank account and was inadvertently included on the March and April MOR8 schedule.
     
<Note 2> MOR8 contains information for the current month for all U.S. bank accounts and is broken out into two categories, accounts where the funds are controlled by Houston Corporate office and other U.S. accounts. The total Ending Cash per Books above ties to the Cash - U.S. bank accounts on MOR2. MOR2 shows the debtor cash balance and is broken out between U.S. bank accounts and non-U.S. bank accounts. The Ending Cash per Books for the first subtotal (accounts where the funds are controlled by Houston Corporate office) above ties to the Ending Cash per Books - End of Month on MOR7. MOR7 contains the activity for accounts where the funds are controlled by Houston Corporate office.
MOR-8
 
 
 
 
CASE NAME:
AUTOSEIS, INC. ET AL
  
CASE NUMBER:
14-20130
  
     
 
CASH ACCOUNT RECONCILIATION
PERIOD 06/01/2014 - 06/30/2014
 
(Amounts in '000s)
BANK NAME
Amegy
Amegy
Citi
Citi
  
Citi
Citi
Bank of America
Wells Fargo
Wells Fargo
ACCOUNT NUMBER
3354784
51577557
3065 9287
30854015
  
3066 5361
3876 6415
488 038 409 088
8964670833
8429980983
ACCOUNT TYPE
Operating
Operating
Operating
Operating
Subtotal (1) (2)
Payroll
Payroll
Operating
Operating
Operating
BANK BALANCE
$ -
$ 505
$ 47
$ 24
$ 28,671
$ 666
$ -
$ 4
$ -
$ 427
DEPOSITS IN TRANSIT
-
-
-
-
-
-
-
-
-
-
OUTSTANDING CHECKS
-
-
-
-
606
-
154
-
-
91
OTHER
-
-
-
-
(149)
-
-
-
-
-
ADJUSTED BANK BALANCE
$ -
$ 505
$ 47
$ 24
28,214
$ 666
$ (154)
$ 4
$ -
$ 336
BEGINNING CASH - PER BOOKS
$ (14)
$ (13)
$ 751
$ 45
36,830
$ 784
$ (273)
$ 1
$ (1)
$ 274
RECEIPTS* (4)
  
501
5
  
14,050
-
        
TRANSFERS BETWEEN ACCOUNTS (4)
        
-
-
-
-
-
-
TRANSFERS BETWEEN ACCOUNTS (5)
1
(1)
1,800
  
(2,377)
1,824
142
5
  
406
TRANSFERS TO FOREIGN DEBTOR ENTITIES (5)
    
(45)
(21)
(4,198)
-
        
TRANSFERS TO FOREIGN NON-DEBTOR ENTITIES (5)
    
(2,492)
  
(2,770)
-
        
TRANSFERS FROM FOREIGN DEBTOR ENTITIES (4)
        
-
-
        
TRANSFERS FROM FOREIGN NON-DEBTOR ENTITIES (4)
        
-
-
        
(WITHDRAWAL) OR INDIVIDUAL
    CONTRIBUTION BY DEBTOR MFR-2
        
-
-
        
CHECKS/OTHER DISBURSEMENTS* (5)
(1)
(1)
(3)
  
(13,427)
(1,936)
(18)
(2)
  
(344)
ADJUSTMENTS RELATED TO OTHER PERIODS
14
19
31
  
106
(6)
(5)
  
1
  
ENDING CASH - PER BOOKS
$ 0
$ 505
$ 47
$ 24
$ 28,214
$ 666
$ (154)
$ 4
$ -
$ 336
UNRECORDED DISBURSEMENTS / DISBURSEMENTS RECORDED IN PRIOR PERIOD (5)
(1)
      
(99)
          
UNRECORDED RECEIPTS / RECEIPTS RECORDED IN PRIOR PERIOD (4)
        
-
          
ADJUSTED ENDING CASH - PER BOOKS
$ (1)
$ 505
$ 47
$ 24
$ 28,115
$ 666
$ (154)
$ 4
$ -
$ 336
 
*Numbers should balance (match) TOTAL RECEIPTS (Includes transfer
to Corporate) and TOTAL DISBURSEMENTS (includes Foreign .
Transfers) lines on MOR-7.
 
(1) This subtotal represents accounts where the funds are controlled by Houston Corporate office; receipts and disbursements tie to MOR-7
(2) This subtotal contains the Citibank Argentina account as the funds are controlled by Houston Corporate office.
(3) This subtotal represents domestic accounts related to payroll disbursement and operating accounts not directly controlled by Corporate
(4) The sum of these rows for the first subtotal agrees to total receipts on MOR-7
(5) The sum of these rows for the first subtotal agrees to total disbursements on MOR-7
<Note 1> Citi payroll bank account 3074 4174 has been removed from the May MOR8 scheduled and will not be included going forward. This bank account is a non-debtor bank account and was inadvertently included on the March and April MOR8 schedule.
 
<Note 2> MOR8 contains information for the current month for all U.S. bank accounts and is broken out into two categories, accounts where the funds are controlled by Houston Corporate office and other U.S. accounts. The total Ending Cash per Books above ties to the Cash - U.S. bank accounts on MOR2. MOR2 shows the debtor cash balance and is broken out between U.S. bank accounts and non-U.S. bank accounts. The Ending Cash per Books for the first subtotal (accounts where the funds are controlled by Houston Corporate office) above ties to the Ending Cash per Books - End of Month on MOR7. MOR7 contains the activity for accounts where the funds are controlled by Houston Corporate office.
MOR-8
 
 
 
 
   CASE NAME:
AUTOSEIS, INC. ET AL
  
   CASE NUMBER:
14-20130
  
     
 
CASH ACCOUNT RECONCILIATION
PERIOD 06/01/2014 - 06/30/2014
 
(Amounts in '000s)
BANK NAME
Wells Fargo
Amegy
Amegy
Amegy
Amegy
    
ACCOUNT NUMBER
9043440404
51577514
51897373
3687805
3690415
    
ACCOUNT TYPE
Operating
Payroll
Payroll
Payroll
Operating
Subtotal (3)
TOTAL
BANK BALANCE
 $                     -
 $                     -
 $                     -
 $                     -
 $                     1
 $               1,098
 $             29,769
DEPOSITS IN TRANSIT
                        -
                        -
                        -
                        -
                        -
                        -
                        -
OUTSTANDING CHECKS
                        -
                        -
                      24
                        -
                        -
                    269
                    875
OTHER
                        -
                        -
                      (1)
                        -
                        -
                      (1)
                   (150)
ADJUSTED BANK BALANCE
 $                     -
 $                     -
 $                  (23)
 $                     -
 $                     1
                    830
                29,044
BEGINNING CASH - PER BOOKS
 $                  (32)
 $                     -
 $                  (23)
 $                   (1)
 $                     1
                    731
                37,561
RECEIPTS* (4)
          
                        -
                14,050
TRANSFERS BETWEEN ACCOUNTS (4)
          
                        -
                        -
TRANSFERS BETWEEN ACCOUNTS (5)
          
                 2,377
                        0
TRANSFERS TO FOREIGN DEBTOR ENTITIES (5)
          
                        -
                (4,198)
TRANSFERS TO FOREIGN NON-DEBTOR ENTITIES (5)
          
                        -
                (2,770)
TRANSFERS FROM FOREIGN DEBTOR ENTITIES (4)
          
                        -
                        -
TRANSFERS FROM FOREIGN NON-DEBTOR ENTITIES (4)
          
                        -
                        -
(WITHDRAWAL) OR INDIVIDUAL
    CONTRIBUTION BY DEBTOR    MFR-2
          
                        -
                        -
CHECKS/OTHER DISBURSEMENTS* (5)
                      32
        
                (2,268)
              (15,695)
ADJUSTMENTS RELATED TO OTHER PERIODS
      
                        1
  
                    (10)
                      96
ENDING CASH - PER BOOKS
 $                     0
 $                     -
 $                  (23)
 $                     -
 $                     1
 $                 830
 $             29,044
UNRECORDED DISBURSEMENTS / DISBURSEMENTS RECORDED IN PRIOR PERIOD (5)
          
                        -
                    (99)
UNRECORDED RECEIPTS / RECEIPTS RECORDED IN PRIOR PERIOD (4)
          
                        -
                        -
ADJUSTED ENDING CASH - PER BOOKS
 $                     0
 $                     -
 $                  (23)
 $                     -
 $                     1
 $                 830
 $             28,945
 
*Numbers should balance (match) TOTAL RECEIPTS (Includes transfer
to Corporate) and TOTAL DISBURSEMENTS (includes Foreign .
Transfers) lines on MOR-7.
 
(1) This subtotal represents accounts where the funds are controlled by Houston Corporate office; receipts and disbursements tie to MOR-7
(2) This subtotal contains the Citibank Argentina account as the funds are controlled by Houston Corporate office.
(3) This subtotal represents domestic accounts related to payroll disbursement  and operating accounts not directly controlled by Corporate
(4) The sum of these rows for the first subtotal agrees to total receipts on MOR-7
(5) The sum of these rows for the first subtotal agrees to total disbursements on MOR-7
<Note 1>  Citi payroll bank account 3074 4174 has been removed from the May MOR8 scheduled and will not be included going forward. This bank account is a non-debtor bank account and was inadvertently included on the March and April MOR8 schedule.
 
<Note 2>  MOR8 contains information for the current month for all U.S. bank accounts and is broken out into two categories, accounts where the funds are controlled by Houston Corporate office and other U.S. accounts. The total Ending Cash per Books above ties to the Cash - U.S. bank accounts on MOR2.  MOR2 shows the debtor cash balance and is broken out between U.S. bank accounts and non-U.S. bank accounts. The Ending Cash per Books for the first subtotal (accounts where the funds are controlled by Houston Corporate office) above  ties to the Ending Cash per Books - End of Month on MOR7.  MOR7 contains the activity for accounts where the funds are controlled by Houston Corporate office.
MOR-8
 
 
 
 
 CASE NAME:
AUTOSEIS, INC. ET AL
  
 CASE NUMBER:
14-20130
  
 
 
PAYMENTS TO INSIDERS AND PROFESSIONALS
(Amounts in '000s)
 
Of the total disbursements shown for the month, list the amount paid to insiders (as defined in Section 101(31)(A)-(F) of the U.S. Bankruptcy Code) and the professionals.
Also, for insiders, identify the type of compensation paid (e.g., salary, commission, bonus, etc.)  (Attach additional pages as necessary).
 
 
MONTH
MONTH
MONTH
MONTH
MONTH
  MONTH
    INSIDERS:  NAME/COMP   TYPE
3/25/14 TO 3/31/14
April
May
June
    
             
1
Bahorich, Michael S.
Director
Compensation
  
                          -
                          -
                          -
    
     
Expense Reimbursement
  
                          -
                          -
                          -
    
2
Branch, Caroline
Officer
Compensation
  
                         7
                       10
                       10
    
     
Expense Reimbursement
  
                          1
                          1
                         0
    
3
Brasher, James E.
Officer
Compensation
  
                       25
                       25
                       18
    
     
Expense Reimbursement
  
                          1
                          -
                          1
    
4
Fleure, Thomas J.
Officer
Compensation
  
                       13
                      20
                      20
    
     
Expense Reimbursement
  
                          -
                         3
                          -
    
5
Flynn, Maurice
Officer
Compensation
  
                       13
                      28
                      23
    
     
Expense Reimbursement
  
                         5
                          -
                         3
    
6
Forrest, Michael C.
Director
Compensation
  
                          -
                          -
                          -
    
     
Expense Reimbursement
  
                          -
                          -
                          -
    
7
Gore, Sean M.
Officer
Compensation
  
                        17
                       25
                       25
    
     
Expense Reimbursement
  
                          -
                          -
                          -
    
8
Howell, Jeff M.
Officer
Compensation
  
                       13
                       14
                       14
    
     
Expense Reimbursement
  
                          1
                          -
                         0
    
9
Kurz, Karl F.
Director
Compensation
  
                          -
                          -
                          -
    
     
Expense Reimbursement
  
                          -
                          -
                          -
    
10
Lahouse, Thomas M.
Officer
Compensation
  
                       13
                       18
                       18
    
     
Expense Reimbursement
  
                          1
                          -
                          -
    
11
Matelich, George E.
Director
Compensation
  
                          -
                          -
                          -
    
     
Expense Reimbursement
  
                          -
                          -
                          -
    
12
Mccoy, Joseph P.
Director
Compensation
  
                          -
                          -
                          -
    
     
Expense Reimbursement
  
                          -
                          -
                          -
    
13
Muse Jr., Ralph B.
Officer
Compensation
  
                       13
                      20
                        17
    
     
Expense Reimbursement
  
                         3
                          1
                          1
    
14
Osborne, Stanley De J.
Director
Compensation
  
                          -
                          -
                          -
    
     
Expense Reimbursement
  
                          -
                          -
                          -
    
15
Peebles, Ross G.
Officer
Compensation
  
                       16
                      23
                      26
    
     
Expense Reimbursement
  
                         8
                         2
                         3
    
16
Riley Jr., Duncan W.
Officer
Compensation
  
                       14
                       21
                       21
    
     
Expense Reimbursement
  
                         2
                         2
                         3
    
17
Skerl, Damir S.
Director
Compensation
  
                          -
                          -
                          -
    
     
Expense Reimbursement
  
                          -
                          -
                          -
    
18
Terrell, Tracy C.
Officer
Compensation
  
                       16
                      20
                      20
    
     
Expense Reimbursement
  
                         0
                         0
                         2
    
19
Verghese, P. Mathew
Officer
Compensation
  
                       19
                       27
                       27
    
     
Expense Reimbursement
  
                         5
                         2
                          1
    
20
White, Richard C.
Officer
Compensation
  
                      26
                      33
                      33
    
     
Expense Reimbursement
  
                       12
                         7
                         0
    
21
Yapuncich, George T.
Officer
Compensation
  
                       14
                       21
                       21
    
     
Expense Reimbursement
  
                          -
                          -
                          -
    
TOTAL INSIDERS  (MOR-1)
    
                          -
                    260
                    322
                    307
                          -
                          -
 
 
 MONTH
 MONTH
 MONTH
 MONTH
 MONTH
   MONTH
                PROFESSIONALS
3/25/14 TO 3/31/14
April
 May
 June
    
             
 
Akin Gump Strass Hauer & Feld LLP
                          -
                     371
                    492
                    444
    
 
Alvarez & Marsal, LLC
                          -
                          -
                          -
                    923
    
 
Baker Botts LLP
    
                          -
                   1,153
    
 
Ernst & Young
                          -
                      86
                      34
                          -
    
 
Greenberg Traurig, LLP
                          -
                          -
                    262
                      161
    
 
Joele Frank, Wilkinson Brimmer Katcher
                          -
                          -
                        15
                          -
    
 
Jordan, Hyden, Womble, Culbreth & Holzer
                          -
                          -
                       47
                      42
    
 
Opportune
                          -
                    250
                     154
                     163
    
 
Prime Clerk
                          -
                       21
                      121
                       70
    
 
Ropes & Gray, LLP
                          -
                          -
                      94
                       31
    
 
Rothschild Inc.
                          -
                          -
                     217
                          -
    
 
U.S. Trustee Payment Center
                          -
                         2
                       13
                          -
    
 
UHY LLP
                          -
                     777
                          -
                          -
    
 
Wilmington Trust [1]
                       19
                       55
                          -
                          -
    
               
               
TOTAL PROFESSIONALS     (MOR-1)
 $                    19
 $                1,561
 $              1,449
 $              2,987
 $                       -
 $                       -
 
 
[1] Amounts netted against DIP funding
 
MOR-9
Revised 07/01/98
 
 
 
 
    UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF TEXAS
CORPUS CHRISTI DIVISION
Exhibit A - CONSOLIDATING DISBURSEMENTS OF JOINTLY ADMINISTERED CASES IN CHAPTER 11
 
 
CASE NAME:
AUTOSEIS, INC. ET AL
  
JOINT ADMINISTRATION CASE NUMBER:
14-20130
  
 
 
DISBURSEMENTS
 
(Amounts in '000s)
 
Entity
Case No.
3/25/14 TO 3/31/14
April
May
June
July
August
Sept.
Filing to Date
AUTOSEIS, INC.
14-20130
 $         -
 $           -
 $           -
        
 $               -
GLOBAL GEOPHYSICAL SERVICES, INC.
14-20131
5,565
117,086
24,061
22,871
      
169,582
GLOBAL GEOPHYSICAL EAME, INC.
14-20132
            -
              -
              -
        
                  -
GGS INTERNATIONAL HOLDINGS, INC.
14-20133
            -
              -
              -
        
                  -
ACCRETE MONITORING, INC.
14-20134
            -
              -
              -
        
                  -
AUTOSEIS DEVELOPMENT COMPANY
14-20135
            -
              -
              -
        
                  -
 
Total Disbursements (same as MOR-1 disbursements)
 $  5,565
 $117,086
 $  24,061
 $22,871
      
 $    169,582
 
 
 
Exhibit A
 
 
 

Global Geophysical Services Inc Reports