Case No. 10-12302 PJW
Reporting Period: November 1 through November 30, 2010
Capital Growth Systems, Inc.
Consolidating Statement of Operations
for the eleven months ended November 2010
Consolidated Total | ||||
INCOME STATEMENT | ||||
Revenues | $ | 51,604,653 | ||
Cost of Revenues | $ | 38,314,049 | ||
Gross Margin | $ | 13,290,605 | ||
OPERATING EXPENSES | ||||
Compensation | $ | 9,698,423 | ||
Travel and entertainment | $ | 1,066,637 | ||
Occupancy | $ | 2,064,294 | ||
Professional services | $ | 4,257,118 | ||
Insurance | $ | 244,986 | ||
Restructuring Expenses | $ | 3,962,365 | ||
Other | $ | 265,932 | ||
Selling, general, and administrative expenses | $ | 21,559,754 | ||
EBITDA | $ | (8,838,469 | ) | |
Bad Debt Expense (Recovery) | $ | 569,319 | ||
Depreciation | $ | 334,514 | ||
Amortization | $ | 2,158,783 | ||
Operating Income (Loss) | $ | (11,331,766 | ) | |
Interest Expense | $ | 18,495,727 | ||
(Gain)/Loss on Warrants & Derivatives | $ | (46,173,477 | ) | |
(Gain)/Loss on Extinguishment of Debt | $ | 272,677 | ||
Income tax expense (benefit) | $ | 28,206 | ||
NET INCOME (LOSS) | $ | 16,045,101 |
Case No. 10-12302 PJW
Reporting Period: November 1 through November 30, 2010
Capital Growth Systems, Inc.
Consolidating Statement of Operations
for the month of November 2010
Consolidated Total | ||||
INCOME STATEMENT | ||||
Revenues | $ | 4,535,946 | ||
Cost of Revenues | $ | 3,402,763 | ||
Gross Margin | $ | 1,133,184 | ||
OPERATING EXPENSES | ||||
Compensation | $ | 789,278 | ||
Travel and entertainment | $ | 57,692 | ||
Occupancy | $ | 169,386 | ||
Professional services | $ | (736,842 | ) | |
Insurance | $ | 15,528 | ||
Restructuring Expenses | $ | 1,771,569 | ||
Other | $ | 48,249 | ||
Selling, general, and administrative expenses | $ | 2,114,860 | ||
EBITDA | $ | (1,006,676 | ) | |
Bad Debt Expense (Recovery) | $ | 25,000 | ||
Depreciation | $ | 28,387 | ||
Amortization | $ | 196,253 | ||
Operating Income (Loss) | $ | (1,231,317 | ) | |
Interest Expense | $ | 1,423,847 | ||
NET INCOME (LOSS) | $ | (2,655,164 | ) |
Case No. 10-12302 PJW
Reporting Period: November 1 through November 30, 2010
Capital Growth Systems, Inc.
Summary of All Units
For the Eleven Months Ending November 30, 2010
Consolidated Total | ||||
BALANCE SHEET | ||||
Current Assets | ||||
Cash | $ | 1,733,283 | ||
Accounts Receivable, net | $ | 5,974,244 | ||
Other Current Assets | $ | 4,215,842 | ||
Intercompany Accounts | $ | 63,869 | ||
Total Current Assets | $ | 11,987,238 | ||
Fixed Assets, gross | $ | 3,827,013 | ||
Accumulated Depreciation | $ | (3,075,111 | ) | |
Fixed Asstes, net | $ | 751,902 | ||
Other Assets | ||||
Other Assets | $ | 300,224 | ||
Intangible Assets | $ | 14,302,889 | ||
Goodwill | $ | 1,479,649 | ||
Total Assets | $ | 28,821,901 | ||
Current Liabilities | ||||
Current maturities of debt | $ | 22,546,471 | ||
Post-Petition Accounts Payable | $ | 4,628,712 | ||
Pre-Petition Accounts Payable | $ | 13,990,875 | ||
Post-Petition Accrued Expenses | $ | 4,585,373 | ||
Pre-Petition Accrued Expenses | $ | 4,021,095 | ||
Deferred Revenue - Short Term | $ | 3,483,508 | ||
Total Current Liabilities | $ | 53,256,034 | ||
Long-term Liabilities | ||||
Debt | $ | 9,632,457 | ||
Taxes | $ | 67,000 | ||
Total Long-term Liabilities | $ | 9,699,457 | ||
Total Liabilities | $ | 62,955,491 | ||
Shareholders' Equity | ||||
Common stock | $ | 17,015 | ||
Reserves | $ | (57,136 | ) | |
Additional Paid in Capital | $ | 91,201,768 | ||
Retained Earnings, beginning of year | $ | (140,794,186 | ) | |
Cumulative gain (loss) on currency translation | $ | (546,134 | ) | |
Current Year Retained Earnings Inc/Loss | $ | 16,045,081 | ||
Total Equity | $ | (34,133,591 | ) | |
Total Liabilities and Shareholders' Equity | $ | 28,821,901 |
Case No. 10-12302 PJW
Reporting Period: November 1 through November 30, 2010
Capital Growth Systems, Inc.
Consolidated AP Aging Report (post-petition)
As of 11/30/2010
Current | 1-30 | 31-60 | 61-90 | Over 90 | Total | |||||||||||||||||||
Total Accounts Payable | $ | 1,399,765 | $ | 1,413,235 | $ | 726,179 | $ | 651,207 | $ | 319,323 | $ | 4,509,709 |
Case No. 10-12302 PJW
Reporting Period: November 1 through November 30, 2010
Capital Growth Systems, Inc.
Consolidated AR Aging Report (Gross Receivables)
As of 11/30/2010
Current | 1-30 Days | 31 - 60 Days | 61 + Days | Total | ||||||||||||||||
Total Accounts Receivables | $ | 3,042,314 | $ | 810,685 | $ | 152,026 | $ | 2,503,071 | $ | 6,508,096 |