EASTERN DISTRICT OF VIRGINIA
In re Pathnet Operating of Virginia, Inc. CASE NO. BK-01-12267
REPORTING PERIOD: APRIL 30, 2001
MONTHLY OPERATING REPORT
File with Court and submit copy to United States Trustee within 20 days after end of month
Submit copy of report to any official committee appointed in the case.
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DOCUMENT EXPLANATION
REQUIRED DOCUMENTS FORM NO. ATTACHED ATTACHED
Schedule of Cash Receipts and Disbursements MOR-1 N/A
Bank Reconciliation (or copies of debtor's bank reconciliation MOR-1 (CON'T) N/A
Copies of bank statements N/A
Cash disbursements journals N/A
Statement of Operations MOR-2 N/A
Balance Sheet MOR-3 N/A
Status of Postpetition Taxes MOR-4 N/A
Copies of IRS Form 6123 or payment receipt N/A
Copies of tax returns filed during reporting period N/A
Summary of Unpaid Postpetition Debts MOR-4 N/A
Listing of aged accounts payable N/A
Accounts Receivable Reconciliation and Aging MOR-5 N/A
Debtor Questionnaire MOR-5 N/A
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I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents
are true and correct to the best of my knowledge and belief.
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Signature of Debtor Date
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Signature of Joint Debtor Date
/s/ James M. Craig
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Signature of Authorized Individual* Date 05-31-01
James M. Craig
- --------------------------------------- Chief Financial Officer
Printed Name of Authorized Individual Title of Authorized Individual
*Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor
is a partnership; a manager or member if debtor is a limited liability company.
FORM MOR
(9/99)
IN RE______________________________________________ CASE NO. _______________________________________________
Debtor REPORTING PERIOD: ________________________________________
SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
Amounts reported should be per the debtor's books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the
first report, the amount should be the balance on the date the petition was filed. The amounts reported in the "CURRENT MONTH - ACTUAL" column must
equal the sum of the four bank account columns. The amounts reported in the "PROJECTED" columns should be taken from the SMALL BUSINESS INITIAL
REPORT (FORM IR-1) . Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal
must equal the total disbursements reported on this page. A bank reconciliation must be attached for each account. [See MOR-1 (CON'T)]
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BANK ACCOUNTS CURRENT MONTH CUMULATIVE FILING TO DATE
OPER. PAYROLL TAX OTHER ACTUAL PROJECTED ACTUAL PROJECTED
CASH BEGINNING OF MONTH 0 0
RECEIPTS
CASH SALES 0 0
ACCOUNTS RECEIVABLE 0 0
LOANS AND ADVANCES 0 0
SALE OF ASSETS 0 0
OTHER (ATTACH LIST) 0 0
TRANSFERS (FROM DIP ACCTS) 0 0
0 0
TOTAL RECEIPTS 0 0 0 0 0 0
DISBURSEMENTS
NET PAYROLL 0 0
PAYROLL TAXES 0 0
SALES, USE, & OTHER TAXES 0 0
INVENTORY PURCHASES 0 0
SECURED/ RENTAL/ LEASES 0 0
INSURANCE 0 0
ADMINISTRATIVE 0 0
SELLING 0 0
OTHER (ATTACH LIST) 0 0
0 0
OWNER DRAW * 0 0
TRANSFERS (TO DIP ACCTS) 0 0
0 0
PROFESSIONAL FEES 0 0
U.S. TRUSTEE QUARTERLY FEES 0 0
COURT COSTS 0 0
TOTAL DISBURSEMENTS 0 0 0 0 0 0
NET CASH FLOW 0 0 0 0 0 0
(RECEIPTS LESS DISBURSEMENTS)
CASH - END OF MONTH 0 0.00 0.00 0 0 0
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* COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE
THE FOLLOWING SECTION MUST BE COMPLETED
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DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN)
TOTAL DISBURSEMENTS $
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS $
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts) $
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES $
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FORM MOR-1
(9/99)
In re_________________________________________ Case No. ___________________________________
Debtor Reporting Period:_____________________________
CONTINUATION SHEET FOR MOR-1
A bank reconciliation must be included for each bank account. The debtor's bank reconciliation may be substituted for this page.
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Operating Payroll Tax Other
# # #
BALANCE PER BOOKS
BANK BALANCE
(+) DEPOSITS IN TRANSIT (ATTACH LIST)
(-) OUTSTANDING CHECKS (ATTACH LIST)
OTHER (ATTACH EXPLANATION)
ADJUSTED BANK BALANCE *
* Adjusted bank balance must equal
balance per books
DEPOSITS IN TRANSIT Date Amount Date Amount Date Amount Date Amount
CHECKS OUTSTANDING Ck. # Amount Ch. # Amount Ck. # Amount Ck. # Amount
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OTHER
FORM MOR-1 (CON'T)
(9/99)
In re________________________________ Case No.____________________________________
Debtor Reporting Period.:_____________________________
STATEMENT OF OPERATIONS
(Income Statement)
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.
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CUMULATIVE
REVENUES Month Filing to Date
Gross Revenues
Less: Returns and Allowances
Net Revenue $0.00 $0.00
COST OF GOODS SOLD
Beginning Inventory
Add: Purchases
Add: Cost of Labor
Add: Other Costs (attach schedule)
Less: Ending Inventory
Cost of Goods Sold 0.00 0.00
Gross Profit 0.00 0.00
OPERATING EXPENSES
Advertising
Auto and Truck Expense
Bad Debts
Contributions
Employee Benefits Programs
Insider Compensation*
Insurance
Management Fees/Bonuses
Office Expense
Pension & Profit-Sharing Plans
Repairs and Maintenance
Rent and Lease Expense
Salaries/Commissions/Fees
Supplies
Taxes - Payroll
Taxes - Real Estate
Taxes - Other
Travel and Entertainment
Utilities
Other (attach schedule) 0
Total Operating Expenses Before Depreciation 0 0
Depreciation/Depletion/Amortization 0
Net Profit (Loss) Before Other Income & Expenses 0 0
OTHER INCOME AND EXPENSES
Other Income (attach schedule) 0
Interest Expense - (intercompany) 0
Other Expense (attach schedule) 0
Net Profit (Loss) Before Reorganization Items 0 0
REORGANIZATION ITEMS
Professional Fees 0
U. S. Trustee Quarterly Fees
Interest Earned on Accumulated Cash from Chapter 11 (see continuation sheet)
Gain (Loss) from Sale of Equipment
Other Reorganization Expenses (attach schedule)
Total Reorganization Expenses 0 0
Income Taxes 0
Net Profit (Loss) 0 0
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*"Insider" is defined in 11 U.S.C. Section 101(31).
FORM MOR-2
(9/99)
In re___________________________________ Case No.__________________________________
Debtor Reporting Period:___________________________
STATEMENT OF OPERATIONS - CONTINUATION SHEET
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CUMULATIVE
BREAKDOWN OF "OTHER" CATEGORY MONTH FILING TO DATE
OTHER COSTS
OTHER OPERATIONAL EXPENSES
OTHER INCOME
OTHER EXPENSES
OTHER REORGANIZATION EXPENSES
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REORGANIZATION ITEMS - INTEREST EARNED ON ACCUMULATED CASH FROM CHAPTER 11:
Interest earned on cash accumulated during the chapter 11 case, which would not have been earned but for the
bankruptcy proceeding, should be reported as a reorganization item.
FORM MOR-2 (CON'T)
(9/99)
In re Case No.
Debtor Reporting Period:
BALANCE SHEET
The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be classified separately from postpetition obligations.
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BOOK VALUE AT END OF BOOK VALUE ON
ASSETS CURRENT REPORTING MONTH PETITION DATE
CURRENT ASSETS
Unrestricted Cash and Equivalents
Accounts Receivable (Net)
Notes Receivable
Inventories
Prepaid Expenses
Professional Retainers
Other Current Assets (attach schedule)
TOTAL CURRENT ASSETS 0 0
PROPERTY AND EQUIPMENT
Real Property and Improvements
Machinery and Equipment
Furniture, Fixtures and Office Equipment
Leasehold Improvements
Vehicles
Less Accumulated Depreciation
TOTAL PROPERTY & EQUIPMENT 0 0
OTHER ASSETS
Loans to Insiders*
Other Assets (attach schedule)
TOTAL OTHER ASSETS 0 0
TOTAL ASSETS 0 0
BOOK VALUE AT END OF BOOK VALUE ON
LIABILITIES AND OWNER EQUITY CURRENT REPORTING MONTH PETITION DATE
LIABILITIES NOT SUBJECT TO COMPROMISE (POSTPETITION)
Accounts Payable
Taxes Payable (refer to FORM MOR-4)
Wages Payable
Notes Payable
Rent / Leases - Building/Equipment
Secured Debt / Adequate Protection Payments
Professional Fees
Amounts Due to Insiders*
Other Postpetition Liabilities (attach schedule)
TOTAL POSTPETITION LIABILITIES $0 $0
LIABILITIES SUBJECT TO COMPROMISE (PRE-PETITION)
Secured Debt
Priority Debt
Unsecured Debt
TOTAL PRE-PETITION LIABILITIES $0 $0
TOTAL LIABILITIES $0 $0
OWNER EQUITY
Capital Stock
Additional Paid-In Capital
Partners' Capital Account
Owner's Equity Account
Retained Earnings - Pre-Petition
Retained Earnings - Postpetition
Adjustments to Owner Equity (attach schedule)
Postpetition Contributions (Distributions) (Draws) (attach schedule)
NET OWNER EQUITY $0 $0
TOTAL LIABILITIES AND OWNERS' EQUITY $0 $0
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FORM MOR-3
*"Insider" is defined in 11 U.S.C. Section 101(31). (9/99)
In re Case No. _________________________
Debtor Reporting Period:___________________
BALANCE SHEET - CONTINUATION SHEET
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BOOK VALUE AT END OF BOOK VALUE ON
ASSETS CURRENT REPORTING MONTH PETITION DATE
Other Current Assets
Other Assets
BOOK VALUE AT END OF BOOK VALUE ON
LIABILITIES AND OWNER EQUITY CURRENT REPORTING MONTH PETITION DATE
Other Postpetition Liabilities
Adjustments to Owner Equity
Postpetition Contributions (Distributions) (Draws)
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Restricted Cash: cash that is restricted for a specific use and not available to fund operations. Typically, restricted cash is segregated
into a separate account, such as an escrow account.
FORM MOR-3 (CON'T)
(9/99)
In re______________________________ Case No. ___________________________
Debtor Reporting Period:_____________________
STATUS OF POSTPETITION TAXES
The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero.
Attach photocopies of IRS Form 6123 or payment receipt to verify payment or deposit of federal payroll taxes.
Attach photocopies of any tax returns filed during the reporting period.
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BEGINNING AMOUNT ENDING
TAX WITHHELD OR AMOUNT DATE CHECK NO. TAX
LIABILITY ACCRUED PAID PAID OR EFT LIABILITY
Federal
Withholding
FICA-Employee
FICA-Employer
Unemployment
Income
Other:_________________
Total Federal Taxes
STATE AND LOCAL
Withholding
Sales
Excise
Unemployment
Real Property
Personal Property
Other:_________________
Total State and Local
TOTAL TAXES
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SUMMARY OF UNPAID POSTPETITION DEBTS
Attach aged listing of accounts payable.
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NUMBER OF DAYS PAST DUE
Current 0-30 31-60 61-90 Over 90 Total
Accounts Payable
Wages Payable
Taxes Payable
Rent/Leases-Building
Rent/Leases-Equipment
Secured Debt/Adequate Protection Payments
Professional Fees
Amounts Due to Insiders*
Other:__________________________
Other:__________________________
TOTAL POSTPETITION DEBTS
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EXPLAIN HOW AND WHEN THE DEBTOR INTENDS TO PAY ANY PAST-DUE POSTPETITION DEBTS.
*"Insider" is defined in 11 U.S.C. Section 101(31). FORM MOR-4
(9/99)
In re______________________________ Case No. ___________________________
Debtor Reporting Period:_____________________
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
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ACCOUNTS RECEIVABLE RECONCILIATION AMOUNT
Total Accounts Receivable at the beginning of the reporting period
+ Amounts billed during the period
- - Amounts collected during the period
Total Accounts Receivable at the end of the reporting period
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ACCOUNTS RECEIVABLE AGING AMOUNT
0 - 30 days old
31 - 60 days old
61 - 90 days old
91+ days old
Total Accounts Receivable
Amount considered uncollectible (Bad Debt)
Accounts Receivable (Net)
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DEBTOR QUESTIONNAIRE
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MUST BE COMPLETED EACH MONTH YES NO
1. Have any assets been sold or transferred outside the normal course of business
this reporting period? If yes, provide an explanation below.
2. Have any funds been disbursed from any account other than a debtor in possession
account this reporting period? If yes, provide an explanation below.
3. Have all postpetition tax returns been timely filed? If no, provide an explanation
below.
4. Are workers compensation, general liability and other necessary insurance
coverages in effect? If no, provide an explanation below.
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FORM MOR-5
(9/99)
