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 | |||||||
12/31/2009 to 1/31/2010 | |||||||
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 December 31, 2009 to January 31, 2010 | |||
Opening Cash Balance -12/31/09 | $ 574 | ||
Inflows: | |||
Customer Collections | |||
Collateral Returned | |||
-Sureties | |||
-Security Deposits | |||
Sale Proceeds/Interest Income/Other | |||
Total Inflows | |||
Distribution of Outflows | |||
Outflows: | NewPower | The NewPower | |
Post Petition: | Holdings, Inc. | Company | |
Professionals - Bankruptcy | 0 | 0 | |
Consulting Fees | |||
Lockbox Fees | 2 | 2 | |
Supplies & Misc | |||
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 | 13 | 13 | |
Net Cash Flows | (13) | ||
Closing Cash Balance | $ 561 |
Attachment 1
NewPower Holdings, Inc. | ||||||
Case Number: 02-10835 | ||||||
Monthly Accounts Receivable Aging and Reconciliation | ||||||
For Period from December 31, 2009 to January 31, 2010 | ||||||
Amounts in $000’s | ||||||
Accounts Receivable at Petition Date: | $ | 75,200 | ||||
Beginning of Month Balance* - Gross | $ | 13,476 | (per 12/31/09 G/L) | |||
PLUS: Current Month New Billings | - | |||||
LESS: Collections During the Month | - | |||||
End of Month Balance - Gross | $ | 13,476 | (per 1/31/10 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, 2009 to January 31, 2010 | ||||||
Amounts in $000’s | ||||||
See attached System Generated A/P reports as of 1/31/2010 (Attachments 2A and 2B). | ||||||
Beginning of Period Balance | $ | 56 | (per 12/31/09 G/L) | |||
PLUS: New Indebtedness Incurred | 4 | |||||
LESS: Amounts Paid on A/P | (4 | ) | ||||
End of Month Balance | $ | 56 | (per 1/31/10 G/L) |
Exhibit 2A
The New Power Company
Vendor Balance Detail
As of January 31, 2010
Type | Date | Amount | Balance | ||||||
AT&T | 0.00 | ||||||||
Bill | 01/02/2010 | 158.24 | 158.24 | ||||||
Bill Pmt -Check | 01/02/2010 | -158.24 | 0.00 | ||||||
Bill | 01/27/2010 | 10.60 | 10.60 | ||||||
Bill Pmt -Check | 01/27/2010 | -10.60 | 0.00 | ||||||
Total AT&T | 0.00 | 0.00 | |||||||
epiq Systems | 0.00 | ||||||||
Bill | 01/02/2010 | 399.32 | 399.32 | ||||||
Bill Pmt -Check | 01/02/2010 | -399.32 | 0.00 | ||||||
Bill | 01/27/2010 | 399.32 | 399.32 | ||||||
Bill Pmt -Check | 01/27/2010 | -399.32 | 0.00 | ||||||
Total epiq Systems | 0.00 | 0.00 | |||||||
Iron Mountain Off-Site Data Protection | 0.00 | ||||||||
Bill | 01/27/2010 | 596.17 | 596.17 | ||||||
Bill Pmt -Check | 01/27/2010 | -596.17 | 0.00 | ||||||
Total Iron Mountain Off-Site Data Protection | 0.00 | 0.00 | |||||||
JPMorgan Chase | 0.00 | ||||||||
Bill | 01/02/2010 | 887.85 | 887.85 | ||||||
Bill | 01/12/2010 | 950.00 | 1,837.85 | ||||||
Bill Pmt -Check | 01/02/2010 | -887.85 | 950.00 | ||||||
Bill Pmt -Check | 01/12/2010 | -950.00 | 0.00 | ||||||
Total JPMorgan Chase | 0.00 | 0.00 | |||||||
Kaster Moving Co. Inc. | 0.00 | ||||||||
Bill | 01/27/2010 | 82.50 | 82.50 | ||||||
Bill Pmt -Check | 01/27/2010 | -82.50 | 0.00 | ||||||
Total Kaster Moving Co. Inc. | 0.00 | 0.00 |
Exhibit 2B
The New Power Company
Unpaid Vendor Balances
January 31, 2010
Balance | ||
Franchise Tax Liability | 55,465.82 | |
Payroll Tax Liablility | 4,682.00 | |
60,147.82 |
Attachment 3
NewPower Holdings, Inc.
Case Number: 02-10835
Inventroy and Fixed Assets Report
For Period from December 31, 2009 to January 31, 2010
Amounts in $000's
Inventory Report | ||||||
Inventory Balance at Petition Date | $ 15,587 | |||||
Inventory at Beginning of Period | $ - | (per 12/31/09 G/L) | ||||
PLUS: Inventrory Purchased | - | |||||
LESS: Inventory Used or Sold | - | |||||
End of Month Balance | $ - | (per 1/31/10 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
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Name of Debtor : | NewPower Holdings Inc. | ||||
Case # : | 02-10835 | ||||
Reporting Period: | 1/01/2010-1/31/2010 | ||||
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 | $ 30,679.88 | ||||
Total Deposits | |||||
Total Payments | $ 11,199.91 Includes transfer to Manual Checking of $8,665.91 | ||||
Closing Balance | $ 19,479.97 | ||||
Electronic Payments issued this Period | EP117 | ||||
Last Payment issued this Period | EP123 | ||||
Total # of payments this Period | 3 | ||||
Attachment 4
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Page 2 of 3
Name of Debtor : | NewPower Holdings Inc. | ||
Case # : | 02-10835 | ||
Reporting Period: | 1/01/2010-1/31/2010 | ||
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 | $ 545,704.24 | ||
Total Deposits | $ 31.88 | Interest Income | |
Total Payments | $ 2,160.08 | Payroll Taxes | |
Closing Balance | $ 543,576.04 | ||
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
Page 3 of 3
Name of Debtor : | NewPower Holdings Inc. | |||
Case # : | 02-10835 | |||
Reporting Period: | 1/01/2010-1/31/2010 | |||
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 | $ 8,665.91 | Transfer from Concentration | ||
Total Payments | $ (8,665.91) | |||
Closing Balance | $ 0.00 | |||
Service Charges | N/A | |||
First Check issued this Period | 201288 | |||
Last Check issued this Period | 201289 | |||
Voided Checks | 0 | |||
Total # of checks issued this Period | 2 |
Exhibit 5
The New Power Company
Transactions by Account
As of January 31, 2010
Date | Num | Name | Amount | |||
01/02/2010 | wire | United States Treasury | 2,160.08 | |||
01/02/2010 | EP117 | AT&T | 158.24 | |||
01/02/2010 | EP118 | epiq Systems | 399.32 | |||
01/02/2010 | EP119 | JPMorgan Chase | 887.85 | |||
01/12/2010 | 201288 | JPMorgan Chase | 950.00 | |||
01/15/2010 | dir dep | M. Patricia Foster | 3,605.87 | |||
01/19/2010 | 201289 | CT Commissioner of Revenue Services | 504.16 | |||
01/27/2010 | EP120 | AT&T | 10.60 | |||
01/27/2010 | EP121 | epiq Systems | 399.32 | |||
01/27/2010 | EP122 | Iron Mountain Off-Site Data Protection | 596.17 | |||
01/27/2010 | EP123 | Kaster Moving Co. Inc. | 82.50 | |||
01/29/2010 | dir dep | M. Patricia Foster | 3,605.88 | |||
13,359.99 | ||||||
13,359.99 | ||||||
Attachment 6
NewPower Holdings, Inc. | ||
Case Number: 02-10835 | ||
Monthly Tax Report | ||
For Period from December 31, 2009 to January 31, 2010 | ||
Amounts in $000's |
Taxes Paid During the Month | |
Employment Taxes | 2.1 |
Connecticut State Tax | 0.5 |
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, 2009 to January 31, 2010 | |||
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 made to insiders 1/01/10-1/31/2010 |
Payments are in gross amts | |||||
Title | Amount | Date | Type | ||
M. Patricia Foster | President & CEO | $ 5,208.33 | 1/15/2010 | Salary for pay period 1/01 -1/15 | |
$ 5,208.33 | 1/31/2010 | 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, 2009 to January 31, 2010 |
none |