Case No. 10-12302 PJW
Reporting Period: February 1 through February 28, 2011
Capital Growth Systems, Inc.
Consolidating Statement of Operations
for the month of February 2011
Consolidated Total | ||||
INCOME STATEMENT | ||||
Revenues | $ | 4,433,336 | ||
Cost of Revenues | $ | 3,333,529 | ||
Gross Margin | $ | 1,099,807 | ||
OPERATING EXPENSES | ||||
Compensation | $ | 859,153 | ||
Travel and entertainment | $ | 159,519 | ||
Occupancy | $ | 79,087 | ||
Professional services | $ | 112,202 | ||
Insurance | $ | 16,791 | ||
Restructuring Expenses | $ | 221,738 | ||
Other | $ | 104,329 | ||
Selling, general, and administrative expenses | $ | 1,552,819 | ||
EBITDA | $ | (453,012 | ) | |
Bad Debt Expense (Recovery) | $ | 15,000 | ||
Depreciation | $ | 27,816 | ||
Amortization | $ | 196,253 | ||
Operating Income (Loss) | $ | (692,081 | ) | |
Interest Expense | $ | 974,733 | ||
Income tax expense (benefit) | $ | 2,876 | ||
NET INCOME (LOSS) | $ | (1,669,690 | ) |
Case No. 10-12302 PJW
Reporting Period: February 1 through February 28, 2011
Capital Growth Systems, Inc.
Consolidating Statement of Operations
for the two months ending February 28, 2011
Consolidated Total | ||||
INCOME STATEMENT | ||||
Revenues | $ | 8,740,946 | ||
Cost of Revenues | $ | 6,565,615 | ||
Gross Margin | $ | 2,175,331 | ||
OPERATING EXPENSES | ||||
Compensation | $ | 1,643,719 | ||
Travel and entertainment | $ | 251,682 | ||
Occupancy | $ | 157,956 | ||
Professional services | $ | 212,708 | ||
Insurance | $ | 83,120 | ||
Restructuring Expenses | $ | 472,128 | ||
Other | $ | 171,209 | ||
Selling, general, and administrative expenses | $ | 2,992,522 | ||
EBITDA | $ | (817,191 | ) | |
Bad Debt Expense (Recovery) | $ | 15,000 | ||
Depreciation | $ | 59,249 | ||
Amortization | $ | 392,506 | ||
Operating Income (Loss) | $ | (1,283,946 | ) | |
Interest Expense | $ | 2,406,884 | ||
Income tax expense (benefit) | $ | 4,540 | ||
NET INCOME (LOSS) | $ | (3,695,370 | ) |
Case No. 10-12302 PJW
Reporting Period: February 1 through February 28, 2011
Capital Growth Systems, Inc.
Summary of All Units
For the Month Ending February 28, 2011
Consolidated Total | ||||
BALANCE SHEET | ||||
Current Assets | ||||
Cash | $ | 1,458,230 | ||
Accounts Receivable, net | $ | 5,320,277 | ||
Other Current Assets | $ | 4,342,193 | ||
Total Current Assets | $ | 11,120,700 | ||
Fixed Assets, gross | $ | 3,830,028 | ||
Accumulated Depreciation | $ | (3,162,746 | ) | |
Fixed Assets, net | $ | 667,282 | ||
Other Assets | ||||
Other Assets | $ | 201,888 | ||
Intangible Assets | $ | 13,714,129 | ||
Goodwill | $ | 1,479,649 | ||
Total Assets | $ | 27,183,648 | ||
Current Liabilities | ||||
Current maturities of debt | $ | 26,296,307 | ||
Post-Petition Accounts Payable | $ | 5,224,333 | ||
Pre-Petition Accounts Payable | $ | 14,145,159 | ||
Post-Petition Accrued Expenses | $ | 519,764 | ||
Pre-Petition Accrued Expenses | $ | 5,149,559 | ||
Deferred Revenue - Short Term | $ | 3,160,744 | ||
Total Current Liabilities | $ | 54,495,866 | ||
Long-term Liabilities | ||||
Debt | $ | 10,473,276 | ||
Taxes | $ | 67,000 | ||
Total Long-term Liabilities | $ | 10,540,276 | ||
Total Liabilities | $ | 65,036,142 | ||
Shareholders' Equity | ||||
Common stock | $ | 17,015 | ||
Additional Paid in Capital | $ | 91,531,086 | ||
Retained Earnings, beginning of year | $ | (125,396,649 | ) | |
Cumulative (gain) loss on currency translation | $ | (308,576 | ) | |
Current Year Retained Earnings Inc/Loss | $ | (3,695,370 | ) | |
Total Equity | $ | (37,852,494 | ) | |
Total Liabilities and Shareholders' Equity | $ | 27,183,648 |
Case No. 10-12302 PJW
Reporting Period: February 1 through February 28, 2011
Capital Growth Systems, Inc.
Consolidated AP Aging Report (post-petition)
As of 2/28/2011
Current | 1-30 | 31-60 | 61-90 | Over 90 | Total | |||||||||||||||||||
Total Accounts Payable | $ | 5,000 | $ | 909,343 | $ | 1,656,055 | $ | 667,796 | $ | 1,893,520 | $ | 5,131,715 |
Case No. 10-12302 PJW
Reporting Period: February 1 through February 28, 2011
Capital Growth Systems, Inc.
Consolidated AR Aging Report (Gross Receivables)
As of 2/28/2011
Current | 1-30 Days | 31 - 60 Days | 61+ | Total | ||||||||||||||||
Total Accounts Receivables | $ | 1,778,086 | $ | 1,508,874 | $ | 192,858 | $ | 2,401,562 | $ | 5,881,379 |