UNITED STATES BANKRUPTCY COURT | Exhibit 99.1 | ||||||
NORTHERN DISTRICT OF GEORGIA | |||||||
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 | |||||||
11/30/2009 to 12/31/2009 | |||||||
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 |
NewPower Holdings, Inc. | |||
Case Number: 02-10835 | Post Petition | ||
Totals | |||
For Period from November 30, 2009 to December 31, 2009 | |||
Opening Cash Balance -11/30/09 | $ 584 | ||
Inflows: | |||
Customer Collections | |||
Collateral Returned | |||
-Sureties | |||
-Security Deposits | |||
Sale Proceeds/Interest Income/Other | 1 | ||
Total Inflows | 1 | ||
Distribution of Outflows | |||
Outflows: | NewPower | The NewPower | |
Post Petition: | Holdings, Inc. | Company | |
Professionals - Bankruptcy | |||
Consulting Fees | |||
Lockbox Fees | |||
Supplies & Misc | 0 | 0 | |
Rent | 1 | 1 | |
Insurance | |||
Utilities (Heat, Hydro, Phone, etc.) | 0 | 0 | |
Payroll (inlcuding tax payments & fees) | 10 | 10 | |
T&E Reimbursements | |||
State Tax Payments | |||
Distribution to Equity | |||
Total Outflows | 11 | 11 | |
Net Cash Flows | (10) | ||
Closing Cash Balance | $ 574 |
Attachment 1
NewPower Holdings, Inc. | ||||||
Case Number: 02-10835 | ||||||
Monthly Accounts Receivable Aging and Reconciliation | ||||||
For Period from November 30, 2009 to December 31, 2009 | ||||||
Amounts in $000’s | ||||||
Accounts Receivable at Petition Date: | $ | 75,200 | ||||
Beginning of Month Balance* - Gross | $ | 13,476 | (per 11/30/09 G/L) | |||
PLUS: Current Month New Billings | - | |||||
LESS: Collections During the Month | - | |||||
End of Month Balance - Gross | $ | 13,476 | (per 12/31/09 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 November 30, 2009 to December 31, 2009 | ||||||
Amounts in $000’s | ||||||
See attached System Generated A/P reports as of 12/31/2009 (Attachments 2A and 2B). | ||||||
Beginning of Period Balance | $ | 56 | (per 11/30/09 G/L) | |||
PLUS: New Indebtedness Incurred | 1 | |||||
LESS: Amounts Paid on A/P | (1 | ) | ||||
End of Month Balance | $ | 56 | (per 12/31/09 G/L) |
Exhibit 2A
The New Power Company
Vendor Balance Detail
As of December 31, 2009
Type | Date | Amount | Balance | ||||||
AT&T | 0.00 | ||||||||
Bill | 12/17/2009 | 10.60 | 10.60 | ||||||
Bill Pmt -Check | 12/18/2009 | -10.60 | 0.00 | ||||||
Total AT&T | 0.00 | 0.00 | |||||||
Iron Mountain Off-Sire Data Protection | 0.00 | ||||||||
Bill | 12/17/2009 | 588.81 | 588.81 | ||||||
Bill Pmt -Check | 12/18/2009 | -588.81 | 0.00 | ||||||
Total Iron Mountain Off-Site Data Protection | 0.00 | 0.00 | |||||||
Kaster Moving Co. Inc. | 0.00 | ||||||||
Bill | 12/17/2009 | 82.50 | 82.50 | ||||||
Bill Pmt -Check | 12/18/2009 | -82.50 | 0.00 | ||||||
Total Kaster Moving Co. Inc. | 0.00 | 0.00 | |||||||
Ms. Patricia Foster | 0.00 | ||||||||
Bill | 12/19/2009 | 450.00 | 450.00 | ||||||
Bill Pmt -Check | 12/19/2009 | -450.00 | 0.00 | ||||||
Total Ms. Patricia Foster | 0.00 | 0.00 | |||||||
TOTAL | 0.00 | 0.00 | |||||||
Exhibit 2B
The New Power Company
Unpaid Vendor Balances
December 31, 2009
Balance | ||
Franchise Tax Liability | 55,465.82 | |
Payroll Tax Liablility | 2,009.00 | |
57,474.82 |
Attachment 3
NewPower Holdings, Inc. | |||||||
Case Number: 02-10835 | |||||||
Inventory and Fixed Assets Report | |||||||
For Period from November 30, 2009 to December 31, 2009 | |||||||
Amounts in $000’s | |||||||
Inventory Report | |||||||
Inventory Balance at Petition Date | $ | 15,587 | |||||
Inventory at Beginning of Period | $ | - | (per 11/30/09 G/L) | ||||
PLUS: Inventory Purchased | - | ||||||
LESS: Inventory Used or Sold | - | ||||||
End of Month Balance | $ | - | (per 12/31/09 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 8 of 16
Page 8 of 16
Name of Debtor : | NewPower Holdings Inc. | ||||
Case # : | 02-10835 | ||||
Reporting Period: | 12/01/2009-12/31/2009 | ||||
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 | $ | 39,122.17 | |||
Total Deposits | $ | 1,100.66 | |||
Total Payments | $ | 9,542.95 | Includes transfer to Manual Checking of | ||
Closing Balance | $ | 30,679.88 | |||
Electronic Payments issued this Period | EP114 | ||||
Last Payment issued this Period | EP116 | ||||
Total # of payments this Period | 3 |
Attachment 4
Page 9 of 16
Page 9 of 16
Name of Debtor : | NewPower Holdings Inc. | |||||
Case # : | 02-10835 | |||||
Reporting Period: | 12/01/2009-12/31/2009 | |||||
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 | $ 546,714.87 | |||||
Total Deposits | $ 69.41 | Interest Income | ||||
Total Payments | $ 1,080.04 | Payroll Taxes | ||||
Closing Balance | $ 545,704.24 | |||||
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 10 of 16
Page 10 of 16
Name of Debtor : | NewPower Holdings Inc. | ||
Case # : | 02-10835 | ||
Reporting Period: | 12/01/2009-12/31/2009 | ||
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 | $8,859.74 | Transfer from Concentration | |
Total Payments | ($8,859.74 | ) | |
Closing Balance | $0.00 | ||
Service Charges | N/A | ||
First Check issued this Period | 202284 | ||
Last Check issued this Period | 202289 | ||
Voided Checks | 4 | ||
Total # of checks issued this Period | 2 |
Exhibit 5
The New Power Company
Transactions by Account
As of December 31, 2009
Type | Date | Amount | ||||
AT&T | ||||||
Bill | 12/17/2009 | 10.60 | ||||
Bill Pmt -Check | 12/18/2009 | -10.60 | ||||
Total AT&T | 0.00 | |||||
Iron Mountain Off-Sire Data Protection | ||||||
Bill | 12/17/2009 | 588.81 | ||||
Bill Pmt -Check | 12/18/2009 | -588.81 | ||||
Total Iron Mountain Off-Site Data Protection | 0.00 | |||||
Kaster Moving Co. Inc. | ||||||
Bill | 12/17/2009 | 82.50 |
Attachment 6
NewPower Holdings, Inc. | ||||||
Case Number: 02-10835 | ||||||
Balance |
Franchise Tax Liability | 55,465.82 | ||
Payroll Tax Liability | 2,009.00 | ||
57,474.82 | |||
Taxes Owed and Due | |||
Payroll Tax Liability | 2.0 | ||
Attachment 7A
NewPower Holdings, Inc. | ||||||||
Case Number: 02-10835 | ||||||||
Type | Date | Num | Name | Amount | ||||
Liability Check | 12/11/2009 | wire | United States Treasury | 1,080.04 | ||||
Liability Check | 12/11/2009 | 201289 | CT Commissioner of Reven | 504.16 | ||||
Paycheck | 12/15/2009 | dir dep | M. Patricia Foster | 3,952.79 | ||||
Bill Pmt - Check | 12/18/2009 | EP14 | AT&T | 10.60 | ||||
Bill Pmt - Check | 12/18/2009 | EP15 | Iron Mountain Off-Site Data | 588.81 | ||||
Bill Pmt - Check | 12/18/2009 | EP16 | Kaster Moving Co. Inc. | 82.50 | ||||
Bill Pmt - Check | 12/19/2009 | 201286 | Ms. Patricia Foster | 450.00 | ||||
Paycheck | 12/31/2009 | dir dep | M. Patricia Foster | 3,952.79 | ||||
10,621.69 | ||||||||
# 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 made to insiders 12/01/09 - 12/31/2009 | |||||||
Payments are in gross amts | |||||||
Title | Amount | Date | Type | ||||
M. Patricia Foster | President & CEO | $ | 5,208.33 | 12/15/2009 | Salary for pay period 12-01 - 12/15 | ||
$ | 5,208.33 | 12/31/2009 | Salary for pay period 12-16 - 12/31 | ||||
$ | 10,416.67 |
Attachment 8
NewPower Holdings, Inc. |
Case Number: 02-10835 |
Significant Developments During Reporting Period |
0 |
none |