Case No. | 10-12302 PJW |
Reporting Period: December 1 through December 31, 2010
Capital Growth Systems, Inc.
Consolidating Statement of Operations
for the twelve months ended December 2010
Consolidated Total | ||||
INCOME STATEMENT | ||||
Revenues | $ | 55,835,220 | ||
Cost of Revenues | $ | 41,548,515 | ||
Gross Margin | $ | 14,286,706 | ||
OPERATING EXPENSES | ||||
Compensation | $ | 10,506,530 | ||
Travel and entertainment | $ | 1,084,480 | ||
Occupancy | $ | 2,147,512 | ||
Professional services | $ | 3,417,578 | ||
Insurance | $ | 262,100 | ||
Restructuring Expenses | $ | 3,222,280 | ||
Other | $ | 214,041 | ||
Selling, general, and administrative expenses | $ | 20,854,521 | ||
EBITDA | $ | (7,162,553 | ) | |
Bad Debt Expense (Recovery) | $ | 594,738 | ||
Depreciation | $ | 362,901 | ||
Amortization | $ | 2,355,382 | ||
Operating Income (Loss) | $ | (10,475,574 | ) | |
Interest Expense | $ | 19,950,077 | ||
(Gain)/Loss on Warrants & Derivatives | $ | (46,173,477 | ) | |
Income tax expense (benefit) | $ | 44,606 | ||
NET INCOME (LOSS) | $ | 16,297,957 |
Case No. | 10-12302 PJW |
Reporting Period: December 1 through December 31, 2010
Capital Growth Systems, Inc.
Consolidating Statement of Operations
for the month of December 2010
Consolidated Total | ||||
INCOME STATEMENT | ||||
Revenues | $ | 4,323,863 | ||
Cost of Revenues | $ | 3,235,358 | ||
Gross Margin | $ | 1,088,505 | ||
OPERATING EXPENSES | ||||
Compensation | $ | 916,148 | ||
Travel and entertainment | $ | 54,385 | ||
Occupancy | $ | 135,397 | ||
Professional services | $ | (618,021 | ) | |
Insurance | $ | 15,528 | ||
Restructuring Expenses | $ | (740,085 | ) | |
Other | $ | 2,806 | ||
Selling, general, and administrative expenses | $ | (233,843 | ) | |
EBITDA | $ | 1,322,349 | ||
Bad Debt Expense (Recovery) | $ | 25,000 | ||
Depreciation | $ | 28,387 | ||
Amortization | $ | 196,253 | ||
Operating Income (Loss) | $ | 1,072,708 | ||
Interest Expense | $ | 1,457,103 | ||
Income tax expense (benefit) | $ | 5,505 | ||
NET INCOME (LOSS) | $ | (389,900 | ) |
Case No. | 10-12302 PJW |
Reporting Period: December 1 through December 31, 2010
Capital Growth Systems, Inc.
Summary of All Units
For the Period Ending December 31, 2010
Consolidated Total | ||||
BALANCE SHEET | ||||
Current Assets | ||||
Cash | $ | 1,900,232 | ||
Accounts Receivable, net | $ | 5,225,421 | ||
Other Current Assets | $ | 4,149,945 | ||
Total Current Assets | $ | 11,275,597 | ||
Fixed Assets, gross | $ | 3,826,970 | ||
Accumulated Depreciation | $ | (3,103,499 | ) | |
Fixed Assets, net | $ | 723,471 | ||
Other Assets | ||||
Other Assets | $ | 234,089 | ||
Intangible Assets | $ | 14,106,635 | ||
Goodwill | $ | 1,479,649 | ||
Total Assets | $ | 27,819,442 | ||
Current Liabilities | ||||
Current maturities of debt | $ | 23,818,753 | ||
Post-Petition Accounts Payable | $ | 4,362,104 | ||
Pre-Petition Accounts Payable | $ | 14,029,755 | ||
Post-Petition Accrued Expenses | $ | 1,669,936 | ||
Pre-Petition Accrued Expenses | $ | 4,609,848 | ||
Deferred Revenue - Short Term | $ | 3,601,250 | ||
Total Current Liabilities | $ | 52,091,647 | ||
Long-term Liabilities | ||||
Debt | $ | 10,000,661 | ||
Taxes | $ | 67,000 | ||
Total Long-term Liabilities | $ | 10,067,661 | ||
Total Liabilities | $ | 62,159,307 | ||
Shareholders' Equity | ||||
Common stock | $ | 17,015 | ||
Reserves | $ | (56,711 | ) | |
Additional Paid in Capital | $ | 91,347,291 | ||
Retained Earnings, beginning of year | $ | (140,720,936 | ) | |
Cumulative (gain) loss on currency translation | $ | (872,742 | ) | |
Current Year Retained Earnings Inc/Loss | $ | 15,946,217 | ||
Total Equity | $ | (34,339,866 | ) | |
Total Liabilities and Shareholders' Equity | $ | 27,819,442 |
Case No. | 10-12302 PJW |
Reporting Period: December 1 through December 31, 2010
Capital Growth Systems, Inc.
Consolidated AP Aging Report (post-petition)
As of 12/31/2010
Current | 1-30 | 31-60 | 61-90 | Over 90 | Total | |||||||||||||||||||
Total Accounts Payable | $ | 223,506 | $ | 1,799,991 | $ | 1,696,528 | $ | 659,451 | $ | (17,371 | ) | $ | 4,362,105 |
Case No. | 10-12302 PJW |
Reporting Period: December 1 through December 31, 2010
Capital Growth Systems, Inc.
Consolidated AR Aging Report (Gross Receivables)
As of 12/31/2010
Current | 1-30 Days | 31 - 60 Days | 61 + Days | Total | ||||||||||||||||
Total Accounts Receivables | $ | 2,433,350 | $ | 1,625,220 | $ | 378,481 | $ | 1,649,042 | $ | 6,086,093 |