Case No. 10-12302 PJW
Reporting Period: October 1 through October 31, 2010
Capital Growth Systems, Inc.
Consolidating Statement of Operations
for the ten months ending October 31, 2010
Consolidated Total | ||||
Revenues | $ | 47,068,708 | ||
Cost of revenues | 34,910,123 | |||
Gross margin | 12,158,584 | |||
Compensation | 8,873,998 | |||
Travel and entertainment | 1,010,108 | |||
Occupancy | 1,319,064 | |||
Professional services | 3,966,960 | |||
Insurance | 231,687 | |||
Restructuring Expenses | 3,650,408 | |||
Other | 877,078 | |||
Selling, general, and administrative expenses | 19,929,304 | |||
EBITDA | (8,316,291 | ) | ||
Bad debt expense (recovery) | 545,571 | |||
Depreciation | 306,126 | |||
Amortization | 1,962,530 | |||
Operating income (loss) | (11,130,518 | ) | ||
Interest expense | 17,071,007 | |||
(Gain) loss on warrants and derivatives | (46,173,477 | ) | ||
(Gain) loss on extinguishment of debt | 272,677 | |||
Income tax expense (benefit) | (20,359 | ) | ||
Net income (loss) | $ | 18,265,205 |
Case No. 10-12302 PJW
Reporting Period: October 1 through October 31, 2010
Capital Growth Systems, Inc.
Consolidating Statement of Operations
for the month of October 2010
Consolidated Total | ||||
Revenues | $ | 4,637,110 | ||
Cost of revenues | 3,425,142 | |||
Gross margin | 1,211,968 | |||
Compensation | 680,235 | |||
Travel and entertainment | 85,017 | |||
Occupancy | 81,655 | |||
Professional services | 295,145 | |||
Insurance | 15,528 | |||
Restructuring Expenses | 540,039 | |||
Other | 201,685 | |||
Selling, general, and administrative expenses | 1,899,305 | |||
EBITDA | (742,337 | ) | ||
Bad debt expense (recovery) | 55,000 | |||
Depreciation | 28,387 | |||
Amortization | 196,253 | |||
Operating income (loss) | (1,021,978 | ) | ||
Interest expense | 1,450,360 | |||
(Gain) loss on warrants and derivatives | ||||
(Gain) loss on extinguishment of debt | ||||
Income tax expense (benefit) | ||||
Net income (loss) | $ | (2,417,338 | ) |
Case No. 10-12302 PJW
Reporting Period: October 1 through October 31, 2010
Capital Growth Systems, Inc.
Summary of All Units
For the Eleven Months Ending October 31, 2010
Consolidated Total | ||||
BALANCE SHEET | ||||
Current Assets | ||||
Cash | $ | 3,009,966 | ||
Accounts receivable, net | 4,771,486 | |||
Other current assets | 4,113,661 | |||
Intercompany accounts | 141,647 | |||
Total Current Assets | 12,036,760 | |||
Fixed assets, gross | 3,807,698 | |||
Accumulated depreciation | (3,045,355 | ) | ||
Fixed Assets, net | 771,586 | |||
Other Assets | ||||
Other assets | 316,357 | |||
Intangible assets | 14,499,142 | |||
Goodwill | 1,479,649 | |||
Total Assets | $ | 29,103,494 | ||
Current Liabilities | ||||
Current maturities of debt | 21,284,219 | |||
Post-Petition Accounts Payable | 3,128,097 | |||
Pre-Petition Accounts Payable | 14,238,443 | |||
Post-Petition Accrued Expenses | 4,498,922 | |||
Pre-Petition Accrued Expenses | 4,176,117 | |||
Deferred revenue | 3,856,122 | |||
Total Current Liabilities | 51,181,919 | |||
Long-term Liabilities | ||||
Debt | 9,523,333 | |||
Taxes | (2,770 | ) | ||
Total Liabilities | 33,691,280 | |||
Shareholders' Equity | ||||
Common stock | 17,015 | |||
Additional paid-in capital | 106,182,362 | |||
Retained earnings, beginning of year | (156,103,506 | ) | ||
Cumulative gain (loss) on currency translation | (220,160 | ) | ||
Year-to-date income (loss) | 18,525,301 | |||
Shareholders' Equity | (22,078,426 | ) | ||
Total Liabilities and Shareholders' Equity | $ | 29,103,493 |
Case No. 10-12302 PJW
Reporting Period: October 1 through October 31, 2010
Capital Growth Systems, Inc.
Consolidated AP Aging Report (post-petition)
As of 10/31/2010
Current | 1-30 | 31-60 | 61-90 | Total | ||||||||||||||||
Total Accounts Payable | $ | 1,155,061 | $ | 1,133,151 | $ | 127,629 | $ | 648,303 | $ | 3,129,948 |
Case No. 10-12302 PJW
Reporting Period: October 1 through October 31, 2010
Global Capacity
Consolidated AR Aging Report (Gross Receivables)
As of 10/31/2010
Current | 1-30 Days | 31 - 60 Days | 61 + Days | Total | ||||||||||||||||
Total Accounts Receivables | 1,368,731 | 1,365,333 | 106,091 | 2,475,685 | 5,315,840 |