UNITED STATES BANKRUPTCY COURT
EASTERN DISTRICT OF VIRGINIA
____________________ DIVISION
In Re: PATHNET FIBER EQUIPMENT LLC ) Chapter 11
)
Case Number BK-01-12268
DEBTORS )
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MONTHLY OPERATING REPORT Calendar Month May 1, 2001 to May 31, 2001
FINANCIAL BACKGROUND INFORMATION
1. ACCOUNTING BASIS: Cash Accrual X
2. PREPARER: State the name, address, telephone number and position of
the person(s) who actually compiled the information contained in this report.
NAJMA KHAN 703-390-1000
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3. NUMBER OF EMPLOYEES paid during this period: -0-
4. Have there been any CHANGES IN THE NATURE OF YOUR BUSINESS since the
last reporting period? Yes No X
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If yes, explain below:
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5. Are all BUSINESS LICENSES current? Yes No Not Applicable X
6. PRE-PETITION ACCOUNTS RECEIVABLE:
Beginning Balance $ -0-
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Collected this Period
Ending Balance
7. POST-PETITION ACCOUNTS RECEIVABLE:
0-30 Days: $ -0- 31-60 Days: $ -0- Over 60 Days: $ -0-
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If there are any POST-PETITION Accounts Receivable over 60 days,
provide schedule AR giving a listing of such accounts and explain the
delinquencies.
8. POST-PETITION ACCOUNTS PAYABLE:
0-30 Days: $ -0- 31-60 Days: $ -0- Over 60 Days: $ -0-
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If there are any POST-PETITION Accounts Payable over 30 days, provide
Schedule AP giving a listing of such accounts and explain the delinquencies.
9. TAXES Are all taxes being paid to the proper taxing authorities when
due? N/A Yes No , On the attached
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IRS Form 6123 report all tax deposits made with any financial institution for
federal employment taxes. Be sure the form is complete and signed by an
authorized employee of the receiving institution or taxing authority. Attach to
this report a completed Form 6123 for each deposit made during the reporting
period. Also attach copies of the monthly sales tax report, payroll tax report
and unemployment tax report with evidence of payment of BOTH FEDERAL AND STATE
TAXES.
10. ESCROW ACCOUNTS. Are you utilizing your tax account only for deposits
and payment of payroll and sales taxes? Yes No . N/A
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If no, explain:
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11. Are all BOOKS AND RECORDS of the debtor(s) being maintained monthly
and are all current? Yes X No .
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Explain:
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12. INSURANCE EXPIRATION STATEMENT. Policy expiration dates are: N/A
Auto and Truck Liability
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Fire Workers Comp
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13. ACTIONS OF THE DEBTOR. During the last month, did the debtor:
(A) Fail to defend or not oppose any action seeking to dispossess
the debtor from control or custody of any asset of the estate?
Yes No X .
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Explain:
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(B) Maintain such stock, inventory, raw materials, insurance,
employees and other resources as are necessary to preserve and maintain
the going-concern value of the assets of the debtor? Yes X No .
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Explain:
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14. TRANSFER OR SALE OF PROPERTY. Did the debtor or any person with
control over any of the debtor's assets transfer, convey or abandon any of the
debtor's assets to another party during the period of this report other than as
set forth herein (including sales by creditors)?
Yes No X . Explain:
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15. PAYMENTS TO SECURED CREDITORS during reporting period:
(Attach additional sheets, if necessary)
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Frequency of Payments Amount of Each Next Payment Due
Creditor per Contract (mo, qtr) Payment Post-Petition
Payments Not Made
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No. Amt.
-0-
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16. PAYMENTS TO PROFESSIONALS (Attorneys, Accountants, Real Estate Agents,
Auctioneers, Appraisers, etc.) during reporting period:
(Attach additional sheets, if necessary.)
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Professional Service Amount
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-0-
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17. QUARTERLY U.S. TRUSTEE FEES paid during reporting period: $-0-
18. VERIFICATION: I declare under penalty of perjury that the
information contained in this monthly operating report (including attached
schedules) is true and correct to the best of my knowledge, information and
belief.
Dated: 6-20-2001 DEBTOR-IN-POSSESSION
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Name/Title James M. Craig By /S/ James M. Craig
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Address: 11720 Sunrise Valley Drive
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Reston, Virginia Phone 703-390-1000
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EASTERN DISTRICT OF VIRGINIA
In re Pathnet Fiber Equipment LLC CASE NO. BK-01-12268
REPORTING PERIOD: MAY 31, 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
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Signature of Authorized Individual* Date
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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.
