Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - KID BRANDS, INC | d792812d8k.htm |
Exhibit 99.1
| In Re: Kid Brands, Inc. et al. | Case No. 14-22582 | |||
| Debtors |
SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
For the Period July 1, 2014 through July 31, 2014
| Kid Brands, Inc. | ||||
| RECEIPTS |
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| CASH RECEIPTS |
$ | 100,000.00 | ||
| TOTAL RECEIPTS |
$ | 100,000.00 | ||
| DISBURSEMENTS |
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| OPERATING DISBURSEMENTS |
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| PAYROLL & EMPLOYEE EXPENSE REIMBURSEMENTS |
302,683.97 | |||
| EMPLOYEE MEDICAL |
133,756.38 | |||
| DISTRIBUTION & FREIGHT |
449,577.05 | |||
| INVENTORY PURCHASES |
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| RENT |
5,461.31 | |||
| INSURANCE |
152,788.15 | |||
| ADMINISTRATIVE & OTHER OPERATING |
54,452.87 | |||
| TOTAL OPERATING DISBURSEMENTS |
1,098,719.73 | |||
| NON-OPERATING DISBURSEMENTS |
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| LOAN PAYDOWN, INTEREST AND FEES |
179,709.74 | |||
| PROFESSIONAL FEES |
904,975.32 | |||
| DEPOSITS |
27,000.00 | |||
| U.S. TRUSTEE FEES |
||||
| TOTAL NON-OPERATING DISBURSEMENTS |
1,111,685.06 | |||
| TOTAL DISBURSEMENTS |
2,210,404.79 | |||
| NET CASH FLOW |
$ | (2,110,404.79 | ) | |
| THE FOLLOWING SECTION MUST BE COMPLETED |
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| DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN) |
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| TOTAL DISBURSEMENTS |
2,210,404.79 | |||
| LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS |
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| PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES |
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| TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES |
2,210,404.79 | |||
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| 1 | This consolidated statement of cash receipts and disbursements has been presented in a manner consistent with the Debtors’ external financial reporting and would be unduly burdensome to produce in a different or modified format. |
FORM MOR-1
| In Re: Kid Brands, Inc. et al. | Case No. 14-22582 | |||
| Debtors |
STATEMENT OF OPERATIONS
For the Period July 1, 2014 through July 31, 2014
The Statement of Operations is to be prepared on an accrual basis. The accrual basis of accounting recognizes revenue when it is realized and expenses when they are incurred, regardless of when cash is actually received or paid.
| Kid Brands, Inc. | ||||
| REVENUES |
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| Net Revenue |
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| Cost of Goods Sold |
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| Gross Profit |
— | |||
| OPERATING EXPENSES |
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| Direct Selling |
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| Sales Support |
||||
| Shipping |
345,029 | |||
| Administrative |
476,359 | |||
| MIS |
36,650 | |||
| Legal |
63,654 | |||
| Design and Product Development |
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| Other |
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| Intercompany |
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| Total Operating Expenses |
921,692 | |||
| Net Profit (Loss) Before Other Income & Expenses |
(921,692 | ) | ||
| OTHER INCOME AND EXPENSES |
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| Interest Expense2 |
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| Net Profit (Loss) Before Reorganization Items |
(921,692 | ) | ||
| Income Taxes |
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| Net Profit (Loss) |
(921,692 | ) | ||
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| 1 | This consolidated statement of cash receipts and disbursements has been presented in a manner consistent with the Debtors’ external financial reporting and would be unduly burdensome to produce in a different or modified format. |
FORM MOR-2
| In Re: Kid Brands, Inc. et al. | Case No. 14-22582 | |||
| Debtors |
BALANCE SHEET
For the Period Ended July 31, 2014
The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be classified separately from postpetition obligations.
| Consolidated | ||||
| ASSETS | ||||
| CURRENT ASSETS |
||||
| Unrestricted Cash and Equivalents |
449,719 | |||
| Restricted Cash |
898,327 | |||
| Accounts Receivable (Net) |
12,921,370 | |||
| Notes Receivable |
150,000 | |||
| Inventories (Net) |
19,644,470 | |||
| Income Taxes Receivable |
4,913 | |||
| Prepaid Expenses and Other Current Assets |
5,979,490 | |||
| TOTAL CURRENT ASSETS |
40,048,289 | |||
| PROPERTY AND EQUIPMENT |
||||
| Fixed Assets |
7,854,356 | |||
| Less Accumulated Depreciation |
(4,631,908 | ) | ||
| TOTAL PROPERTY & EQUIPMENT |
3,222,448 | |||
| OTHER ASSETS |
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| Intangibles |
8,862,529 | |||
| Notes Receivable, Long-term |
209,850 | |||
| Other Assets |
288,149 | |||
| TOTAL OTHER ASSETS |
9,360,528 | |||
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| TOTAL ASSETS |
52,631,265 | |||
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| Kid Brands, Inc. | ||||
| LIABILITIES AND OWNER EQUITY | ||||
| LIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition) |
||||
| DIP Financing |
35,879,256 | |||
| Accounts Payable |
1,020,395 | |||
| Taxes Payable |
211,004 | |||
| Accrued expenses |
667,650 | |||
| TOTAL POSTPETITION LIABILITIES |
37,778,305 | |||
| LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition) |
||||
| Accounts Payable |
24,790,674 | |||
| Taxes Payable |
453,858 | |||
| Accrued expenses |
26,054,073 | |||
| Deferred Rent-leases |
1,867,680 | |||
| TOTAL PRE-PETITION LIABILITIES |
53,166,285 | |||
| TOTAL LIABILITIES |
90,944,590 | |||
| SHAREHOLDER EQUITY |
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| NET SHAREHOLDER EQUITY |
(38,313,325 | ) | ||
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| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
52,631,265 | |||
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| 1 | Includes the assets and liabilities of the Company’s foreign entities that are not part of the bankruptcy filing. |
FORM MOR-3