UNITED STATES BANKRUPTCY COURT | |||||||
NORTHERN DISTRICT OF GEORGIA | Exhibit 99.1 | ||||||
NEWNAN DIVISION | |||||||
} | CASE NUMBER | ||||||
} | 02-10835 | ||||||
} | |||||||
The NewPower Company, et. al. | } | JUDGE | W. Homer Drake, Jr. | ||||
} | |||||||
DEBTORS | } | CHAPTER 11 | |||||
DEBTOR'S MONTHLY FINANCIAL REPORTS (BUSINESS) | |||||||
FOR THE PERIOD | |||||||
FROM 12/31/2007 to 1/31/2008 | |||||||
Comes now the above-named debtor and files its Periodic Financial Reports in accordance | |||||||
with the Guidelines established by the United States Trustee and FRBP 2015. | |||||||
Paul Ferdinands | |||||||
Attorney for Debtor | |||||||
Debtor's Address | Attorney's Address | ||||||
and Phone Number | and Phone Number | ||||||
P.O. Box 17296 | 191 Peachtree St. | ||||||
Stamford, Ct 06907 | Atlanta, GA 30303 | ||||||
Tel: (203) 329-8412 | Tel: (404) 572-4600 |
Case Number: 02-10835 | Post Petition | ||
Totals | |||
For Period from December 31, 2007 to January 31, 2008 | |||
Opening Cash Balance -12/31/07 | $ 1,555 | ||
Inflows: | |||
Customer Collections | |||
Collateral Returned | |||
-Sureties | |||
-Security Deposits | |||
Sale Proceeds/Interest Income/Other | 2 | ||
Total Inflows | 2 | ||
Distribution of Outflows | |||
Outflows: | NewPower | The NewPower | |
Post Petition: | Holdings, Inc. | Company | |
Professionals - Bankruptcy | 65 | 65 | |
Consulting Fees | |||
Lockbox Fees | |||
Supplies & Misc | |||
Rent | 1 | 1 | |
Insurance | 60 | 60 | |
Utilities (Heat, Hydro, Phone, etc.) | 1 | 1 | |
Payroll (inlcuding tax payments & fees) | 10 | 10 | |
T&E Reimbursements | |||
State Tax Payments | |||
Distribution to Equity | |||
Total Outflows | 138 | 138 | |
Net Cash Flows | (135) | ||
Closing Cash Balance | $ 1,420 | ||
Amount of Cash Balance in Reserve for | |||
Classes 8 -12 |
Attachment 1
NewPower Holdings, Inc. | |||||
Case Number: 02-10835 | |||||
Monthly Accounts Receivable Aging and Reconciliation | |||||
For Period from December 31, 2007 to January 31, 2008 | |||||
Amounts in $000's | |||||
Accounts Receivable at Petition Date: | $ 75,200 | ||||
Beginning of Month Balance* - Gross | $ 13,476 | (per 12/31/07 G/L) | |||
PLUS: Current Month New Billings | - | ||||
LESS: Collections During the Month | - | ||||
End of Month Balance - Gross | $ 13,476 | (per 1/31/08 G/L) | |||
Allowance for Doubtful Accounts | (13,476) | ||||
End of Month Balance - Net of Allowance | $ - | ||||
Note: | The accounts receivable aging below relates only to deliveries to | ||||
customers subsequent to the June 11, 2002 petition date. | |||||
AR Aging for Post Petition Receivables | |||||
Current | > 30 days | > 60 days | Total | ||
$ - | $ - | $ 111 | $ 111 |
Attachment 2
NewPower Holdings, Inc. | |||||
Case Number: 02-10835 | |||||
Monthly Accounts Payable and Secured Payments Report | |||||
For Period from December 31, 2007 to January 31, 2008 | |||||
Amounts in $000's | |||||
See attached System Generated A/P reports as of 12/31/2007 (Attachments 2A and 2B). | |||||
Beginning of Period Balance | $ 60 | (per 12/31/07 G/L) | |||
PLUS: New Indebtedness Incurred | 147 | ||||
LESS: Amounts Paid on A/P& taxes | (147) | ||||
End of Month Balance | $ 60 | (per 1/31/08 G/L) | |||
Exhibit 2A
The New Power Company
Vendor Balance Detail
January 2008
Type | Date | Amount | Balance | |||||||
Archivesone | 0.00 | |||||||||
Bill | 01/14/2008 | 1,483.02 | 1,483.02 | |||||||
Bill Pmt -Check | 01/14/2008 | -1,483.02 | 0.00 | |||||||
Total Archivesone | 0.00 | 0.00 | ||||||||
Arkadin, Inc. | 0.00 | |||||||||
Bill | 01/14/2008 | 37.05 | 37.05 | |||||||
Bill Pmt -Check | 01/14/2008 | -37.05 | 0.00 | |||||||
Total Arkadin, Inc. | 0.00 | 0.00 | ||||||||
AT&T | 0.00 | |||||||||
Bill | 01/14/2008 | 267.34 | 267.34 | |||||||
Bill Pmt -Check | 01/14/2008 | -267.34 | 0.00 | |||||||
Total AT&T | 0.00 | 0.00 | ||||||||
epiq Systems | 0.00 | |||||||||
Bill | 01/14/2008 | 387.49 | 387.49 | |||||||
Bill Pmt -Check | 01/14/2008 | -387.49 | 0.00 | |||||||
Bill | 01/29/2008 | 400.21 | 400.21 | |||||||
Bill Pmt -Check | 01/29/2008 | -400.21 | 0.00 | |||||||
Total epiq Systems | 0.00 | 0.00 | ||||||||
Kaster Moving Co. Inc. | 0.00 | |||||||||
Bill | 01/29/2008 | 532.80 | 532.80 | |||||||
Bill Pmt -Check | 01/29/2008 | -532.80 | 0.00 | |||||||
Total Kaster Moving Co. Inc. | 0.00 | 0.00 | ||||||||
King and Spalding | 0.00 | |||||||||
Bill | 01/14/2008 | 1,406.33 | 1,406.33 | |||||||
Bill Pmt -Check | 01/14/2008 | -1,406.33 | 0.00 | |||||||
Bill | 01/29/2008 | 1,309.92 | 1,309.92 | |||||||
Bill Pmt -Check | 01/29/2008 | -1,309.92 | 0.00 | |||||||
Total King and Spalding | 0.00 | 0.00 | ||||||||
Sidley Austin Brown & Wood | 0.00 | |||||||||
Bill | 01/14/2008 | 63,558.32 | 63,558.32 | |||||||
Bill Pmt -Check | 01/14/2008 | -63,558.32 | 0.00 | |||||||
Bill | 01/29/2008 | 78,056.55 | 78,056.55 | |||||||
Bill Pmt -Check | 01/29/2008 | -78,056.55 | 0.00 | |||||||
Total Sidley Austin Brown & Wood | 0.00 | 0.00 | ||||||||
U.S. Trustee Program Payment Center | 0.00 | |||||||||
Bill | 01/29/2008 | 250.00 | 250.00 | |||||||
Bill | 01/29/2008 | 250.00 | 500.00 | |||||||
Bill Pmt -Check | 01/29/2008 | -500.00 | 0.00 | |||||||
Total U.S. Trustee Program Payment Center | 0.00 | 0.00 |
Page 1 of 3
Exhibit 2A
The New Power Company
Vendor Balance Detail
January 2008
TOTAL | 0.00 | 0.00 | |||||||||
New Bills | 147,939.03 | ||||||||||
Bills Paid | -147,939.03 |
Page 2 of 3
Exhibit 2B
The New Power Company
Unpaid Vendor Detail
As of January 31, 2008
Name | Balance | ||
Franchise Tax Liability | 55,465.00 | ||
Payroll Tax Liablility | 4,617.78 | ||
60,082.78 |
Page 3 of 3
Attachment 3
NewPower Holdings, Inc. | ||||||
Case Number: 02-10835 | ||||||
Inventroy and Fixed Assets Report | ||||||
For Period from December 31, 2007 to January 31, 2008 | ||||||
Amounts in $000's | ||||||
Inventory Report | ||||||
Inventory Balance at Petition Date | $ 15,587 | |||||
Inventory at Beginning of Period | $ - | (per 12/31/07 G/L) | ||||
PLUS: Inventrory Purchased | - | |||||
LESS: Inventory Used or Sold | - | |||||
End of Month Balance | $ - | (per 1/31/08 G/L) | ||||
Inventory is generally costed at the lower of cost or market. By the end of July 2002 we had sold | ||||||
all of our gas inventory either to retail customers or financial buyers as part of our asset sales. | ||||||
Fixed Asset Report | ||||||
Book Value at Petition Date | $ 1,238 | |||||
Our fixed assets at petition date consisted of office furniture and equipment. These assets | ||||||
were transferred to our lessor in June 2002 as part of the settlement of our lease obligation. | ||||||
Fixed Assets at Beginning of Period | $ - | |||||
Less: Depreciation Expense | - | |||||
Less: Dispositions | - | |||||
Add: Purchases | - | |||||
Fixed Assets at End of Period | $ - | |||||
Attachment 4
Page 1 of 3
Name of Debtor : | NewPower Holdings Inc. | ||
Case # : | 02-10835 | ||
Reporting Period: | 1/01/2008-1/31/2008 | ||
Name of Bank: | JP Morgan Chase | ||
Branch: | New York ABA # 021000021 | ||
Account Name: | The New Power Company Concentration Account | ||
Account Number: | |||
Purpose of Account: | Concentration Account | ||
Beginning Balance | $ 448,872.85 | ||
Total Deposits | $ 1,215.58 | ||
Total Payments | $ 135,008.26 | ||
Closing Balance | $ 315,080.17 | ||
Service Charges | |||
First Check issued this Period | N/A | ||
Last Check issued this Period | N/A | ||
Total # of checks issued this Period | N/A |
Attachment 4
Attachment 4
Page 2 of 3
Name of Debtor : | NewPower Holdings Inc. | ||
Case # : | 02-10835 | ||
Reporting Period: | 1/01/2008-1/31/2008 | ||
Name of Bank: | JP Morgan Chase | ||
Branch: | New York ABA # 021000021 | ||
Account Name: | The New Power Company | ||
Account Number: | |||
Purpose of Account: | Money Market | ||
Beginning Balance | $ 1,124,472.17 | ||
Total Deposits | $ 1,081.68 Interest Income | ||
Total Payments | $ 2,654.08 Payroll Taxes | ||
Closing Balance | $ 1,122,899.77 | ||
Service Charges | $ - | ||
First Check issued this Period | N/A | ||
Last Check issued this Period | N/A | ||
Total # of checks issued this Period | N/A | ||
Attachment 4
Page 3 of 3
Name of Debtor : | NewPower Holdings Inc. | |
Case # : | 02-10835 | |
Reporting Period: | 1/01/2008-1/31/2008 | |
Name of Bank: | JP Morgan Chase | |
Branch: | Syracuse, NY | |
Account Name: | The New Power Company | |
Account Number: | ||
Purpose of Account: | Controlled Disbursements (A/P) | |
Beginning Balance | $0.00 | |
Total Deposits | $135,008.26 | |
Total Payments | $135,008.26 | |
Closing Balance | $0.00 | |
Service Charges | N/A | |
First Check issued this Period | 201157 | |
Last Check issued this Period | 201170 | |
Total # of checks issued this Period | 14 |
Exhibit 5
The New Power Company
Check Detail
January 2008
Num | Date | Name | Paid Amount | |||
201157 | 01/14/2008 | M. Patricia Foster | 3,388.82 | |||
201158 | 01/14/2008 | United States Treasury | 56.00 | |||
201159 | 01/14/2008 | Sidley Austin Brown & Wood | 63,558.32 | |||
201160 | 01/14/2008 | Archivesone | 1,483.02 | |||
201161 | 01/14/2008 | King and Spalding | 1,406.33 | |||
201162 | 01/14/2008 | epiq Systems | 387.49 | |||
201163 | 01/14/2008 | AT&T | 267.34 | |||
201164 | 01/14/2008 | Arkadin, Inc. | 37.05 | |||
201165 | 01/29/2008 | Kaster Moving Co. Inc. | 532.80 | |||
201166 | 01/29/2008 | U.S. Trustee Program Payment Center | 500.00 | |||
201167 | 01/29/2008 | King and Spalding | 1,309.92 | |||
201168 | 01/29/2008 | Sidley Austin Brown & Wood | 78,056.55 | |||
201169 | 01/29/2008 | epiq Systems | 400.21 | |||
201170 | 01/31/2008 | M. Patricia Foster | 3,388.81 |
Page 3 of 3
Attachment 6
NewPower Holdings, Inc. | ||
Case Number: 02-10835 | ||
Monthly Tax Report | ||
For Period from December 31, 2007 to January 31, 2008 | ||
Amounts in $000's | ||
Taxes Paid During the Month | ||
Employment Taxes | ||
Connecticut State Tax | ||
Taxes Owed and Due | ||
Payroll Tax Liability | 4.6 |
Attachment 7A
NewPower Holdings, Inc. | ||||
Case Number: 02-10835 | ||||
Summary of Officer Compensation / Summary of Personnel and Insurance Coverages | ||||
For Period from December 31, 2007 to January 31, 2008 | ||||
Amounts in $000's | ||||
Summary of Officer Compensation | ||||
See supplemental attachment. |
Personnel Report | |||
Full Time | Part Time | ||
# of Employees at beginning of period | 1 | ||
# hired during the period | - | - | |
# terminated/resigned during period | - | - | |
# employees on payroll - end of period | 0 | 1 | |
# of employees on temporary consulting assignments | 0 | ||
Confirmation of Insurance | |||
See supplemental attachment. * | |||
* Omitted |
Attachment 7B
(Supplemental)
Payments are in gross amts | ||||
Title | Amount | Date | Type | |
M. Patricia Foster | President & CEO | $ 5,208.33 | 1/14/2008 | Salary for pay period 1/01 -1/15 |
$ 5,208.33 | 1/31/2008 | Salary for pay period 1/16 -1/31 | ||
$ 10,416.67 | ||||
Attachment 8
NewPower Holdings, Inc. |
Case Number: 02-10835 |
Significant Developments During Reporting Period |
For Period from December 31, 2007 to January 31, 2008 |
none |