Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - Global Geophysical Services Inc | f8k_092314.htm |
| EX-10.3 - EXHIBIT 10.3 - Global Geophysical Services Inc | exh_103.htm |
| EX-10.2 - EXHIBIT 10.2 - Global Geophysical Services Inc | exh_102.htm |
| EX-99.1 - EXHIBIT 99.1 - Global Geophysical Services Inc | exh_991.htm |
| EX-10.1 - EXHIBIT 10.1 - Global Geophysical Services Inc | exh_101.htm |
Exhibit 99.2
Global Geophysical Services, Inc.
13-Week DIP Budget
Submitted 9/10/2014
Through Week Ended 12/5/2014
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Global Geophysical Services, Inc.
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13-Week DIP Budget Background & Explanation
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Background and Explanation:
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The following page is the most recent DIP Budget provided to the DIP Lenders as of September 10, 2014.
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3 weeks of actual summary cash flows as well as 13 weeks of projected summary cash flows were provided.
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Cash Beginning and Cash Ending balances are reflective of U.S. only book cash amounts and exclude restricted cash and cash held on account of cash-collateralized obligations such as letters of credit.
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The week's Cash Ending balance is determined by summing the week's Inflows, Outflows and Cash Beginning balance.
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Inflows are inclusive of cash transfers from foreign country operations (non-U.S. bank accounts).
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Summary Cash Flow
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$ 000s
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Actual
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Actual
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Actual
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Forecast
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Forecast
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Forecast
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Forecast
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Forecast
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Forecast
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Forecast
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Forecast
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Forecast
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Forecast
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Forecast
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Forecast
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Forecast
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|||||||||||||||||||||||||||||||||||||||||||||||||
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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WE
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WE
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WE
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WE
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WE
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WE
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WE
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WE
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WE
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WE
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WE
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WE
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WE
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WE
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WE
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WE
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| 8/22 | 8/29 | 9/5 | 9/12 | 9/19 | 9/26 | 10/3 | 10/10 | 10/17 | 10/24 | 10/31 | 11/7 | 11/14 | 11/21 | 11/28 | 12/5 | |||||||||||||||||||||||||||||||||||||||||||||||||
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Inflows
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Collections (Received at Corporate)
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$ | 2,267 | $ | 117 | $ | 7,356 | $ | 4,291 | $ | 3,606 | $ | 8,659 | $ | 932 | $ | 13,747 | $ | 13,664 | $ | 125 | $ | 8,318 | $ | 2,211 | $ | 125 | $ | 2,551 | $ | 6,075 | $ | 4,031 | ||||||||||||||||||||||||||||||||
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Outflows
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Cash Request from Regions
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(723 | ) | (740 | ) | (588 | ) | (1,264 | ) | (779 | ) | (625 | ) | (681 | ) | (351 | ) | (734 | ) | (514 | ) | (511 | ) | (376 | ) | (633 | ) | (190 | ) | (546 | ) | (386 | ) | ||||||||||||||||||||||||||||||||
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Payroll, Per Diem, Benefits
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(1,451 | ) | (99 | ) | (1,498 | ) | (375 | ) | (1,270 | ) | (375 | ) | (1,270 | ) | (375 | ) | (495 | ) | (1,150 | ) | (495 | ) | (1,150 | ) | (495 | ) | (1,150 | ) | (495 | ) | (1,150 | ) | ||||||||||||||||||||||||||||||||
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Payroll (IOM)
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- | - | (1,200 | ) | - | - | - | - | (1,170 | ) | - | - | - | (1,170 | ) | - | - | - | (1,170 | ) | ||||||||||||||||||||||||||||||||||||||||||||
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Accounts Payable
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(1,279 | ) | (1,315 | ) | (2,174 | ) | (3,034 | ) | (1,171 | ) | (2,051 | ) | (1,319 | ) | (2,590 | ) | (1,160 | ) | (900 | ) | (1,021 | ) | (2,578 | ) | (1,480 | ) | (1,182 | ) | (1,055 | ) | (2,366 | ) | ||||||||||||||||||||||||||||||||
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Interest/Fees on Term Loan A
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- | (483 | ) | - | - | - | - | (533 | ) | - | - | - | (517 | ) | - | - | - | (467 | ) | - | ||||||||||||||||||||||||||||||||||||||||||||
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Interest/Fees on Term Loan B
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- | (888 | ) | - | - | - | - | (980 | ) | - | - | - | (949 | ) | - | - | - | (858 | ) | - | ||||||||||||||||||||||||||||||||||||||||||||
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Total Professionals
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(261 | ) | (976 | ) | (926 | ) | (1,910 | ) | (55 | ) | (288 | ) | (352 | ) | (2,022 | ) | (61 | ) | (273 | ) | (512 | ) | (2,122 | ) | (198 | ) | (273 | ) | (1,945 | ) | (2,011 | ) | ||||||||||||||||||||||||||||||||
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Bankruptcy Related Payments
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- | (4 | ) | (40 | ) | (15 | ) | (15 | ) | (15 | ) | (15 | ) | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||
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Other Payments (Insurance, etc)
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- | (236 | ) | - | - | - | - | (250 | ) | - | - | - | - | (250 | ) | - | - | - | (250 | ) | ||||||||||||||||||||||||||||||||||||||||||||
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Total Outflows
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(3,713 | ) | (4,741 | ) | (6,426 | ) | (6,598 | ) | (3,290 | ) | (3,355 | ) | (5,401 | ) | (6,508 | ) | (2,451 | ) | (2,837 | ) | (4,005 | ) | (7,647 | ) | (2,806 | ) | (2,796 | ) | (5,366 | ) | (7,333 | ) | ||||||||||||||||||||||||||||||||
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Net Cashflow
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$ | (1,447 | ) | $ | (4,624 | ) | $ | 930 | $ | (2,307 | ) | $ | 316 | $ | 5,304 | $ | (4,469 | ) | $ | 7,239 | $ | 11,213 | $ | (2,712 | ) | $ | 4,314 | $ | (5,435 | ) | $ | (2,681 | ) | $ | (245 | ) | $ | 709 | $ | (3,302 | ) | |||||||||||||||||||||||
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Cash Beginning
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$ | 14,525 | $ | 13,078 | $ | 8,454 | $ | 9,384 | $ | 7,078 | $ | 7,394 | $ | 12,698 | $ | 8,229 | $ | 15,468 | $ | 26,681 | $ | 23,969 | $ | 28,283 | $ | 22,847 | $ | 20,166 | $ | 19,921 | $ | 20,630 | ||||||||||||||||||||||||||||||||
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Net Cashflow
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(1,447 | ) | (4,624 | ) | 930 | (2,307 | ) | 316 | 5,304 | (4,469 | ) | 7,239 | 11,213 | (2,712 | ) | 4,314 | (5,435 | ) | (2,681 | ) | (245 | ) | 709 | (3,302 | ) | |||||||||||||||||||||||||||||||||||||||
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Borrowing
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- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||
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Cash Ending
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$ | 13,078 | $ | 8,454 | $ | 9,384 | $ | 7,078 | $ | 7,394 | $ | 12,698 | $ | 8,229 | $ | 15,468 | $ | 26,681 | $ | 23,969 | $ | 28,283 | $ | 22,847 | $ | 20,166 | $ | 19,921 | $ | 20,630 | $ | 17,328 | ||||||||||||||||||||||||||||||||