Exhibit 99.4
Exhibit 5
U.S. Trustee Basic Monthly Operating Report
Case Name: | SAFETY TECH INTERNATIONAL, INC. |
| Date Filed: | 09/18/2009 | |
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Case Number: | 09-15684 |
| SIC Code: | 339900 | |
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Month (or portion) covered by this report: | August 2009 | ||||
IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THIS U.S. TRUSTEE BASIC MONTHLY OPERATING REPORT AND THE ACCOMPANYING ATTACHMENTS ON BEHALF OF THE CHAPTER 11 DEBTOR AND, TO THE BEST OF MY KNOWLEDGE, THIS REPORT AND RELATED DOCUMENTS ARE TRUE, CORRECT AND COMPLETE.
/s/ Sherri Voelkel |
| Sept. 17, 2009 |
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY |
| DATE REPORT SIGNED |
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Sherri Voelkel, Treasurer |
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PRINTED NAME OF RESPONSIBLE PARTY AND POSITION WITH DEBTOR |
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The debtor is required to provide financial reports prepared by or for the debtor in addition to the information required by this form. The U.S. Trustee may permit the debtor to eliminate duplicative information. No such permission is valid unless in writing.
QUESTIONNAIRE: |
| YES |
| NO |
| N/A | |
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1. | IS THE BUSINESS STILL OPERATING? |
| x |
| o |
| o |
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2. | DID YOU SELL ANY ASSETS OTHER THAN INVENTORY THIS MONTH? |
| o |
| x |
| o |
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3. | HAVE YOU PAID ANY BILLS YOU OWED BEFORE YOU FILED BANKRUPTCY? |
| x |
| o |
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4. | DID YOU PAY ANYTHING TO YOUR ATTORNEY OR OTHER PROFESSIONALS THIS MONTH? |
| o |
| x |
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5. | DID YOU PAY ALL YOUR BILLS ON TIME THIS MONTH? |
| x |
| o |
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6. | DID YOU PAY YOUR EMPLOYEES ON TIME? |
| x |
| o |
| o |
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7. | HAVE YOU FILED ALL OF YOUR RETURNS AND PAID ALL OF YOUR TAXES THIS MONTH? |
| x |
| o |
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8. | DID YOU PAY ALL OF YOUR INSURANCE PREMIUMS THIS MONTH? |
| x |
| o |
| o |
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9. | DID ANY INSURANCE COMPANY CANCEL YOUR POLICY THIS MONTH? |
| o |
| x |
| o |
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10. | HAVE YOU BORROWED MONEY FROM ANYONE THIS MONTH? |
| x |
| o |
| o |
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11. | DO YOU HAVE ANY BANK ACCOUNTS OPEN OTHER THAN THE DIP ACCOUNT? |
| o |
| x |
| o |
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12. | DID YOU HAVE ANY UNUSUAL OR SIGNIFICANT UNANTICIPATED EXPENSES THIS MONTH? |
| o |
| x |
| o |
Page 17 of 21
Exhibit 5
09-15684
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| YES |
| NO |
| N/A | |
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13. | DID YOU DEPOSIT ALL MONEY FOR YOUR BUSINESS INTO THE DIP ACCOUNT THIS MONTH? |
| x |
| o |
| o |
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14. | DID THE BUSINESS SELL ANY GOODS OR PROVIDE SERVICES TO ANY BUSINESS RELATED TO THE DIP IN ANY WAY? |
| o |
| x |
| o |
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15. | DO YOU PLAN TO CONTINUE TO OPERATE THE BUSINESS NEXT MONTH? |
| x |
| o |
| o |
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16. | ARE YOU CURRENT ON YOUR QUARTERLY FEE PAYMENT TO THE UST? |
| x |
| o |
| o |
TAXES
DO YOU HAVE ANY PAST DUE TAX RETURNS OR PAST DUE POST-PETITION TAX OBLIGATIONS? |
| o |
| x |
| o |
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IF YES, PLEASE PROVIDE A WRITTEN EXPLANATION INCLUDING WHEN SUCH RETURNS WILL BE FILED, OR WHEN SUCH PAYMENTS WILL BE MADE AND THE SOURCE OF THE FUNDS FOR THE PAYMENT. |
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(Exhibit A)
INCOME
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PLEASE SEPARATELY LIST ALL OF THE INCOME YOU RECEIVED FOR THE MONTH. THE LIST SHOULD INCLUDE ALL INCOME FROM CASH AND CREDIT TRANSACTIONS. [If you use an automated accounting system, please attach a copy of the Income Statement and Balance Sheet.] |
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TOTAL INCOME |
| $ | 535,352.47 |
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(Exhibit B)
EXPENSES
PLEASE SEPARATELY LIST ALL EXPENSES PAID BY CASH OR BY CHECK FROM YOUR BANK ACCOUNTS PAID THIS MONTH. INCLUDE THE DATE PAID, WHO WAS PAID THE MONEY, THE PURPOSE AND THE AMOUNT. [If you use an automated accounting system, please attach a copy of the Disbursements Journal, otherwise attach a copy of the check register.] |
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TOTAL EXPENSES |
| -$ | 506,280.03 |
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(Exhibit C)
CASH PROFIT
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INCOME FOR THE MONTH (TOTAL FROM EXHIBIT B) |
| $ | 535,352.47 |
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EXPENSES FOR THE MONTH (TOTAL FROM EXHIBIT C) |
| -$ | 506,280.03 |
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(Subtract The Total from Exhibit C from the Total of Exhibit B) CASH PROFIT FOR THE MONTH |
| $ | 29,072.44 |
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Page 18 of 21
Exhibit 5
09-15684
UNPAID BILLS
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PLEASE ATTACH A LIST OF ALL DEBTS (INCLUDING TAXES) WHICH YOU HAVE INCURRED SINCE THE DATE YOU FILED BANKRUPTCY BUT HAVE NOT PAID. THE LIST MUST INCLUDE THE DATE THE DEBT WAS INCURRED, WHO IS OWED THE MONEY, THE PURPOSE OF THE DEBT AND WHEN THE DEBT IS DUE. |
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TOTAL PAYABLES |
| $ | 48,632.97 |
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(Exhibit D)
MONEY OWED TO YOU
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PLEASE ATTACH A LIST OF ALL AMOUNTS OWED TO YOU BY YOUR CUSTOMERS FOR WORK YOU HAVE DONE OR THE MERCHANDISE YOU HAVE SOLD. YOU SHOULD INCLUDE WHO OWES YOU MONEY, HOW MUCH IS OWED AND WHEN IS PAYMENT DUE. |
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TOTAL RECEIVABLES |
| $ | 502,231.09 |
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(EXHIBIT E)
BANKING INFORMATION
PLEASE ATTACH A COPY OF YOUR LATEST BANK STATEMENT FOR EVERY ACCOUNT YOU HAVE AS OF THE DATE OF THIS FINANCIAL REPORT.
EMPLOYEES
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NUMBER OF EMPLOYEES WHEN THE CASE WAS FILED? |
| 66 |
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NUMBER OF EMPLOYEES AS OF THE DATE OF THIS MONTHLY REPORT? |
| 19 |
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PROFESSIONAL FEES *** |
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TOTAL PROFESSIONAL FEES APPROVED BY THE COURT DURING THIS REPORTING PERIOD? |
| $ | 0.00 |
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TOTAL PROFESSIONAL FEES APPROVED BY THE COURT SINCE THE FILING OF THE CASE? |
| $ | 0.00 |
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TOTAL PROFESSIONAL FEES INCURRED BY OR ON BEHALF OF THE DEBTOR DURING THIS REPORTING PERIOD? |
| $ | 0.00 |
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TOTAL PROFESSIONAL FEES INCURRED BY OR ON BEHALF OF THE DEBTOR SINCE THE FILING OF THE CASE? |
| $ | 0.00 |
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PROFESSIONAL FEES INCURRED BY OR ON BEHALF OF THE DEBTOR RELATED TO BANKRUPTCY DURING THIS REPORTING PERIOD? |
| $ | 0.00 |
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PROFESSIONAL FEES INCURRED BY OR ON BEHALF OF THE DEBTOR RELATED TO BANKRUPTCY SINCE THE FILING OF THE CASE? |
| $ | 0.00 |
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*** Fees reported in the Monthly Operating Report of TVI Corporation, Case No. 09-15677
Page 19 of 21
Exhibit 5
09-15684
PROJECTIONS
COMPARE YOUR ACTUAL INCOME, EXPENSES AND THE CASH PROFIT TO THE PROJECTIONS FOR THE FIRST 180-DAYS OF YOUR CASE PROVIDED AT THE INITIAL DEBTOR INTERVIEW.
PROJECTED INCOME FOR THE MONTH: |
| See Exhibit F |
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ACTUAL INCOME FOR THE MONTH (EXHIBIT B): |
| $ | 0.00 |
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DIFFERENCE BETWEEN PROJECTED AND ACTUAL INCOME: |
| $ | 0.00 |
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PROJECTED EXPENSES FOR THE MONTH: |
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TOTAL ACTUAL EXPENSES FOR THE MONTH (EXHIBIT C): |
| $ | 0.00 |
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DIFFERENCE BETWEEN PROJECTED AND ACTUAL EXPENSES: |
| $ | 0.00 |
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PROJECTED CASH PROFIT FOR THE MONTH: |
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ACTUAL CASH PROFIT FOR THE MONTH |
| $ | 0.00 |
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DIFFERENCE BETWEEN PROJECTED AND ACTUAL CASH PROFIT: |
| $ | 0.00 |
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[If actual cash profit was 90% or less of projected cash profit, please attach a detailed written explanation.]
Page 20 of 21
Exhibit 6
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MARYLAND
OFFICE OF UNITED STATES TRUSTEE
In re: |
| CHAPTER 11 |
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| Case No. 09-15684 |
SAFETY TECH INTERNATIONAL, INC. |
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| MONTHLY OPERATING REPORT |
Debtor(s) |
| CASH DISBURSEMENTS SUMMARY REPORT |
Calendar Month August 1, 2009 to August 31, 2009
(All figures refer to post-petition transactions)
Total Disbursements from Operating Account | (Note 1) | + $ |
| $381,621.45 |
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Total Disbursements from Payroll Account | (Note 2) | + $ |
| $10,718.95 |
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Total Disbursements from Tax Escrow Account | (Note 3) | + $ |
| $0.00 |
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Total Disbursements from other Account | (Note 4) | + $ |
| $0.00 |
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Grand Total Disbursements from all accounts |
| = $ |
| $392,340.40 |
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NOTE 1 - Include in this amount all checks written, wire transfers made from, or any other withdrawal from the general operating account. Exclude only transfers to the debtor in possession payroll account, the debtor in possession tax escrow account or other debtor in possession account where the disbursements will be listed on this report.
NOTE 2 - Include in this amount all checks written, wire transfers made from, or any other withdrawal from the payroll account. Exclude only transfers to the debtor in possession operating account, the debtor in possession tax escrow account or other debtor in possession account where the disbursements will be listed on this report.
NOTE 3 - Include in this amount all checks written, wire transfers made from, or any other withdrawal from the tax escrow account. Exclude only transfers to the debtor in possession operating account, the debtor in possession payroll account or other debtor in possession account where the disbursements will be listed on this report.
NOTE 4 - Include in this amount any other disbursements made by the debtor including (but not limited to) cash paid from a petty cash fund or cash register, amounts paid from any other debtor in possession account, and amounts paid from the accounts of others on the debtors behalf (for example, disbursements made from a law firm’s escrow account as a result of a sale of property).
Page 21 of 21
TVI CORPORATION, DEBTOR-IN-POSSESSION
CONSOLIDATING BALANCE SHEET
As of August 31, 2009
(Unaudited)
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| Case |
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| 09-15686 |
| 09-15758 |
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| 09-15677 |
| 09-15654 |
| Signature |
| CAPA |
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| TVI |
| Safety Tech |
| Special Event |
| Manufacturing |
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| Corporation |
| International, Inc. |
| Services, Inc. |
| Corp |
| TOTAL |
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ASSETS |
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CURRENT ASSETS |
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Cash and cash equivalents |
| $ | 41,311 |
| $ | — |
| $ | — |
| $ | — |
| $ | 41,311 |
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Accounts receivable - trade, net |
| 1,140,176 |
| 487,245 |
| 362,595 |
| — |
| 1,990,016 |
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Inventories, net |
| 1,963,432 |
| 1,835,731 |
| — |
| — |
| 3,799,163 |
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Income taxes receivable * |
| — |
| — |
| — |
| — |
| — |
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Equipment held for sale |
| — |
| — |
| 2,242,000 |
| — |
| 2,242,000 |
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Prepaid expenses and other current assets |
| 681,389 |
| 329,134 |
| 53,964 |
| — |
| 1,064,487 |
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Total current assets |
| 3,826,308 |
| 2,652,110 |
| 2,658,559 |
| — |
| 9,136,977 |
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PROPERTY, PLANT AND EQUIPMENT, NET |
| 278,140 |
| 5,440,263 |
| — |
| — |
| 5,718,402 |
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OTHER ASSETS |
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Intangible assets, net |
| 213,077 |
| 31,460 |
| — |
| — |
| 244,537 |
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Receivable from subsidiary |
| 6,014,877 |
| — |
| — |
| — |
| 6,014,877 |
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Other |
| 47,971 |
| — |
| — |
| — |
| 47,971 |
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Total other assets |
| 6,275,925 |
| 31,460 |
| — |
| — |
| 6,307,385 |
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TOTAL ASSETS |
| $ | 10,380,373 |
| $ | 8,123,832 |
| $ | 2,658,559 |
| $ | — |
| $ | 21,162,764 |
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LIABILITIES AND STOCKHOLDERS’ DEFICIT |
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CURRENT LIABILITIES |
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DIP Line of credit |
| $ | 10,079,477 |
| $ | — |
| $ | — |
| $ | — |
| $ | 10,079,477 |
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Accounts payable |
| 1,727,649 |
| 1,201,672 |
| 1,552,148 |
| — |
| 4,481,469 |
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Accrued expenses |
| 1,365,236 |
| 476,339 |
| 891,425 |
| — |
| 2,733,000 |
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Deferred income taxes * |
| — |
| 72,764 |
| — |
| — |
| 72,764 |
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Current portion of long-term debt |
| 17,060,827 |
| 48,280 |
| — |
| — |
| 17,109,106 |
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Total current liabilities |
| 30,233,189 |
| 1,799,055 |
| 2,443,573 |
| — |
| 34,475,816 |
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LONG-TERM LIABILITIES |
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Long-term debt, net of current portion |
| — |
| 243,862 |
| — |
| — |
| 243,862 |
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Payable to parent company |
| — |
| 5,799,891 |
| 214,986 |
| — |
| 6,014,877 |
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Stock warrant liability |
| 106,200 |
| — |
| — |
| — |
| 106,200 |
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Deferred income taxes * |
| — |
| 281,024 |
| — |
| — |
| 281,024 |
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Total long-term liabilities |
| 106,200 |
| 6,324,777 |
| 214,986 |
| — |
| 6,645,963 |
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TOTAL LIABILITIES |
| 30,339,389 |
| 8,123,833 |
| 2,658,559 |
| — |
| 41,121,780 |
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STOCKHOLDERS’ DEFICIT |
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Preferred stock - $1.00 par value |
| — |
| — |
| — |
| — |
| — |
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Common stock - $0.01 par value |
| 343,674 |
| — |
| — |
| — |
| 343,674 |
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Additional paid-in capital |
| 26,960,492 |
| — |
| — |
| — |
| 26,960,492 |
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Accumulated deficit |
| (47,263,182 | ) | — |
| — |
| — |
| (47,263,182 | ) | |||||
TOTAL STOCKHOLDERS’ DEFICIT |
| (19,959,016 | ) | — |
| — |
| — |
| (19,959,016 | ) | |||||
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TOTAL LIABILITIES AND DEFICIT |
| $ | 10,380,373 |
| $ | 8,123,833 |
| $ | 2,658,559 |
| $ | — |
| $ | 21,162,764 |
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* Income taxes are pending.
TVI CORPORATION, DEBTOR-IN-POSSESSION
CONSOLIDATING STATEMENT OF OPERATIONS
For the Month Ended August 31, 2009
(Unaudited)
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| Case |
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| 09-15686 |
| 09-15758 |
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| 09-15677 |
| 09-15654 |
| Signature |
| CAPA |
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| TVI |
| Safety Tech |
| Special Event |
| Manufacturing |
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| Corporation |
| International, Inc. |
| Services, Inc. |
| Corp |
| TOTAL |
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NET REVENUE |
| $ | 337,799 |
| $ | 447,676 |
| $ | 73,412 |
| $ | — |
| $ | 858,887 |
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COST OF REVENUE |
| 216,582 |
| 366,482 |
| 14,774 |
| — |
| 597,838 |
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GROSS PROFIT |
| 121,217 |
| 81,194 |
| 58,638 |
| — |
| 261,049 |
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OPERATING EXPENSES |
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Selling, general and administrative expenses |
| 265,829 |
| 259,158 |
| 217,707 |
| — |
| 742,694 |
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Research and development expenses |
| 41,374 |
| 47,398 |
| — |
| — |
| 88,773 |
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Total operating expenses |
| 307,204 |
| 306,556 |
| 217,707 |
| — |
| 831,467 |
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OPERATING INCOME/(LOSS) |
| (185,987 | ) | (225,362 | ) | (159,069 | ) | — |
| (570,418 | ) | |||||
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INTEREST AND OTHER (EXPENSE), NET |
| (120,286 | ) | 3 |
| — |
| — |
| (120,283 | ) | |||||
FORGIVENESS OF DEBT |
| 13,620 |
| 11,051 |
| — |
| — |
| 24,671 |
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INCOME/(LOSS) BEFORE INCOME TAXES |
| (292,653 | ) | (214,308 | ) | (159,069 | ) | — |
| (666,030 | ) | |||||
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INCOME TAX (EXPENSE)/BENEFIT * |
| — |
| — |
| — |
| — |
| — |
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NET INCOME/(LOSS) |
| $ | (292,653 | ) | $ | (214,308 | ) | $ | (159,069 | ) | $ | — |
| $ | (666,030 | ) |
* Income tax (expense) benefit is pending.
Safety Tech International, Inc.
Case No. 09-15684
Exhibit B - Cash Receipts
August 1, 2009 through August 31, 2009
Deposit Date |
| Payor |
| Description |
| Amount |
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8/3/2009 |
| Chargin Safety Supply, Inc. |
| Receivables Payment |
| $ | 210.00 |
|
8/3/2009 |
| Jackson Safety |
| Receivables Payment |
| 7,107.70 |
| |
8/3/2009 |
| Tyco/Scott Health and Safety |
| Receivables Payment |
| 2,845.49 |
| |
8/3/2009 |
| Duke University Account |
| Receivables Payment |
| 734.96 |
| |
8/3/2009 |
| Draeger Safety, Inc. |
| Receivables Payment |
| 548.00 |
| |
8/3/2009 |
| Nana Pacific, LLC |
| Receivables Payment |
| 25.50 |
| |
8/4/2009 |
| AirBoss- Defense |
| Receivables Payment |
| 1,318.71 |
| |
8/7/2009 |
| Aramsco, Inc. |
| Receivables Payment |
| 7,004.85 |
| |
8/7/2009 |
| Seattle Tarp Company |
| Receivables Payment |
| 11,799.84 |
| |
8/7/2009 |
| United Industry Inc. |
| Receivables Payment |
| 43.00 |
| |
8/7/2009 |
| Federal Resources Supply Company |
| Receivables Payment |
| 13,597.35 |
| |
8/7/2009 |
| Unicorn International |
| Receivables Payment |
| 41,314.46 |
| |
8/10/2009 |
| Aramsco, Inc. |
| Receivables Payment |
| 399.75 |
| |
8/10/2009 |
| Jackson Safety |
| Receivables Payment |
| 7,693.74 |
| |
8/10/2009 |
| MSA |
| Receivables Payment |
| 33,417.25 |
| |
8/10/2009 |
| Tyco/Scott Health and Safety |
| Receivables Payment |
| 2,968.24 |
| |
8/10/2009 |
| SAIC ABINGDON |
| Receivables Payment |
| 1,000.00 |
| |
8/11/2009 |
| RubyStone Enterprises |
| Receivables Payment |
| 297.71 |
| |
8/11/2009 |
| Cooley Dickinson Hospital |
| Receivables Payment |
| 10,841.85 |
| |
8/12/2009 |
| DFAS BVDP (SL4701) |
| Receivables Payment |
| 699.76 |
| |
8/13/2009 |
| Offutt Air Force Base |
| Receivables Payment |
| 293.73 |
| |
8/13/2009 |
| EMS Innovations, Inc. |
| Receivables Payment |
| 345.87 |
| |
8/13/2009 |
| Duke University |
| Receivables Payment |
| 1,189.29 |
| |
8/13/2009 |
| CSTJ Enterprises, Inc. |
| Receivables Payment |
| 628.39 |
| |
8/14/2009 |
| Avox Systems |
| Receivables Payment |
| 3,049.47 |
| |
8/17/2009 |
| RohmHaas / James Fox |
| Receivables Payment |
| 900.47 |
| |
8/17/2009 |
| Glendale Industrial Supply, Co. |
| Receivables Payment |
| 1,906.72 |
| |
8/17/2009 |
| Washington Army National Guard |
| Receivables Payment |
| 2,911.94 |
| |
8/17/2009 |
| Jackson Safety |
| Receivables Payment |
| 1,100.00 |
| |
8/17/2009 |
| Avon Protection Systems, Inc. |
| Receivables Payment |
| 133.89 |
| |
8/17/2009 |
| Tyco/Scott Health and Safety |
| Receivables Payment |
| 117.69 |
| |
8/18/2009 |
| Bullard |
| Receivables Payment |
| 27,888.40 |
| |
8/21/2009 |
| CSTA, USAR NORTH |
| Receivables Payment |
| 5,950.89 |
| |
8/21/2009 |
| D Wheatley Enterprises, Inc |
| Receivables Payment |
| 54.26 |
| |
8/21/2009 |
| DFAS Columbus Center |
| Receivables Payment |
| 304,899.65 |
| |
8/24/2009 |
| Jeremy Sweney |
| Receivables Payment |
| 177.46 |
| |
8/24/2009 |
| Avon - ISI |
| Receivables Payment |
| 8,023.75 |
| |
8/24/2009 |
| Jackson Safety |
| Receivables Payment |
| 2,178.00 |
| |
8/24/2009 |
| Fisher Scientific |
| Receivables Payment |
| 4,795.99 |
| |
8/25/2009 |
| Nana Pacific, LLC |
| Receivables Payment |
| 11,307.75 |
| |
8/26/2009 |
| Aramsco, Inc. |
| Receivables Payment |
| 263.20 |
| |
8/31/2009 |
| Ancom Systems, Inc. |
| Receivables Payment |
| 8,590.00 |
| |
8/31/2009 |
| Draeger Safety |
| Receivables Payment |
| 1,899.26 |
| |
8/31/2009 |
| Duke University Account |
| Receivables Payment |
| 818.96 |
| |
8/31/2009 |
| Tyco/Scott Health and Safety |
| Receivables Payment |
| 2,059.28 |
| |
|
|
|
|
|
|
|
| |
|
| Totals |
|
|
| $ | 535,352.47 |
|
Safety Tech International, Inc.
Case No. 09-15684
Exhibit C - Expenses
August 1, 2009 through August 31, 2009
Payment Date |
| Name of Creditor |
| Purpose |
| Amount Paid |
| |
|
|
|
|
|
|
|
| |
08/03/09 |
| Memar Corporation |
| TRADE VENDOR |
| $ | 28,783.30 |
|
08/03/09 |
| ESTES EXPRESS LINES INC. |
| TRADE VENDOR |
| 317.43 | (1) | |
08/03/09 |
| GRAPHCOM INC. |
| JOB SUPPLIES |
| 428.80 | (1) | |
08/03/09 |
| STAPLES DIRECT |
| JOB SUPPLIES |
| 69.90 | (1) | |
08/03/09 |
| TELEDYNE HASTINGS INSTRUMENTS |
| JOB SUPPLIES |
| (362.03 | )(1) | |
08/04/09 |
| DHL Global Fowarding |
| TRADE VENDOR |
| 769.08 |
| |
08/04/09 |
| NEWARK US |
| JOB SUPPLIES |
| 1,340.79 | (1) | |
08/04/09 |
| SHEETZ |
| FUEL |
| 66.54 | (1) | |
08/04/09 |
| ULINE |
| SHIPPING SUPPLIES |
| 66.49 | (1) | |
08/04/09 |
| ULINE |
| SHIPPING SUPPLIES |
| 126.26 | (1) | |
08/05/09 |
| MCMASTER-CARR |
| TRADE VENDOR |
| 147.50 | (1) | |
08/06/09 |
| Cintas Corp. #387 |
| TRADE VENDOR |
| 246.48 |
| |
08/06/09 |
| Old Farm HOA |
| TRADE VENDOR |
| 145.00 |
| |
08/06/09 |
| TelCove Operations |
| TRADE VENDOR |
| 384.71 |
| |
08/06/09 |
| TriMech - Columbia MD Office |
| TRADE VENDOR |
| 1,372.70 |
| |
08/06/09 |
| United Parcel Service-Philadelphia |
| TRADE VENDOR |
| 1,128.51 |
| |
08/06/09 |
| Washington Gas |
| UTILITY |
| 107.11 |
| |
08/06/09 |
| World Class Packaging |
| TRADE VENDOR |
| 1,384.98 |
| |
08/06/09 |
| BEEF O BRADY’S |
| TRAVEL EXPENSE |
| 19.94 | (1) | |
08/06/09 |
| BEEF O BRADY’S |
| TRAVEL EXPENSE |
| 24.21 | (1) | |
08/06/09 |
| MCMASTER-CARR |
| TRADE VENDOR |
| 784.00 | (1) | |
08/06/09 |
| ULINE |
| SHIPPING SUPPLIES |
| 126.26 | (1) | |
08/07/09 |
| Electronic Design and Manufacturing |
| TRADE VENDOR |
| 2,151.29 | (3) | |
08/07/09 |
| Tessy Plastics |
| TRADE VENDOR |
| 5,879.90 | (3) | |
08/07/09 |
| DHL Global Forwarding |
| TRADE VENDOR |
| 275.00 |
| |
08/07/09 |
| ALLIED ELECTRONICS INC. |
| JOB SUPPLIES |
| 1,682.34 | (1) | |
08/07/09 |
| DIGI KEY CORP |
| JOB SUPPLIES |
| 1,741.77 | (1) | |
08/07/09 |
| MCMASTER-CARR |
| TRADE VENDOR |
| 437.75 | (1) | |
08/07/09 |
| NEWARK US |
| JOB SUPPLIES |
| 483.75 | (1) | |
08/07/09 |
| RUBY TUESDAY |
| TRAVEL EXPENSE |
| 29.66 | (1) | |
08/07/09 |
| ADP |
| ADP FEES |
| 350.52 |
| |
08/08/09 |
| MOUSER ELECTRONICS |
| JOB SUPPLIES |
| 2,682.36 | (1) | |
08/08/09 |
| NEWARK US |
| JOB SUPPLIES |
| 323.48 | (1) | |
08/08/09 |
| NEWARK US |
| JOB SUPPLIES |
| 1,184.22 | (1) | |
08/10/09 |
| GRAPHCOM INC. |
| JOB SUPPLIES |
| 1,968.89 | (1) | |
08/10/09 |
| POLSTEINS HARDWARE |
| JOB SUPPLIES |
| 184.04 | (1) | |
08/10/09 |
| LOWES |
| TRADE VENDOR |
| 87.13 | (1) | |
08/10/09 |
| SHEETZ |
| FUEL |
| 42.77 | (1) | |
08/10/09 |
| AMERICAN FUNDS |
| 401K |
| 3,616.55 |
| |
08/11/09 |
| Way Out West |
| TRADE VENDOR |
| 41,400.00 |
| |
08/11/09 |
| ALLIED ELECTRONICS INC. |
| JOB SUPPLIES |
| 955.70 | (1) | |
08/11/09 |
| FOTRONIC TEST EQUIPMENT |
| JOB SUPPLIES |
| 12.69 | (1) | |
08/11/09 |
| MOUSER ELECTRONICS |
| JOB SUPPLIES |
| 137.41 | (1) | |
08/11/09 |
| STAPLES DIRECT |
| JOB SUPPLIES |
| 254.20 | (1) | |
08/11/09 |
| ADP |
| NET PAYROLL |
| 32,916.53 | (2) | |
08/12/09 |
| ESTES EXPRESS LINES INC. |
| TRADE VENDOR |
| 718.92 | (1) | |
08/12/09 |
| SHEETZ |
| FUEL |
| 56.74 | (1) | |
08/12/09 |
| ULINE |
| SHIPPING SUPPLIES |
| 47.93 | (1) | |
08/12/09 |
| WAL-MART |
| OFFICE SUPPLIES |
| 61.52 | (1) | |
08/12/09 |
| ADP |
| NET PAYROLL TAXES |
| 16,513.59 | (2) | |
08/13/09 |
| Electronic Design and Manufacturing |
| TRADE VENDOR |
| 3,733.06 |
| |
08/13/09 |
| Estes Express Line |
| TRADE VENDOR |
| 45.86 |
| |
08/13/09 |
| Ingersoll-Rand Company |
| TRADE VENDOR |
| 1,071.00 |
| |
08/13/09 |
| Landstar Ranger, Inc. |
| TRADE VENDOR |
| 868.18 |
| |
08/13/09 |
| Phoenix Rope and Cordage Co. |
| TRADE VENDOR |
| 1,400.00 |
| |
08/13/09 |
| TelCove Operations |
| TRADE VENDOR |
| 344.25 |
| |
08/13/09 |
| Maxon Precision Motors |
| TRADE VENDOR |
| 16,650.00 |
| |
08/13/09 |
| ALLIED ELECTRONICS INC. |
| JOB SUPPLIES |
| 1,359.86 | (1) | |
1
Safety Tech International, Inc.
Case No. 09-15684
Exhibit C - Expenses
August 1, 2009 through August 31, 2009
Payment Date |
| Name of Creditor |
| Purpose |
| Amount Paid |
|
|
|
|
|
|
|
|
|
08/13/09 |
| BEEF O BRADY’S |
| TRAVEL EXPENSE |
| 21.73 | (1) |
08/13/09 |
| BEEF O BRADY’S |
| TRAVEL EXPENSE |
| 32.05 | (1) |
08/13/09 |
| AMERICAN EXPRESS |
| MERCHANT FEE |
| 15.37 |
|
08/13/09 |
| ADP |
| NET PAYROLL CHECKS |
| 926.12 |
|
08/13/09 |
| ADP |
| NET PAYROLL CHECKS |
| 75.68 | (2) |
08/13/09 |
| ADP |
| NET PAYROLL CHECKS |
| 2,000.00 | (2) |
08/14/09 |
| BEEF O BRADY’S |
| TRAVEL EXPENSE |
| 22.15 | (1) |
08/14/09 |
| FASTENAL |
| JOB SUPPLIES |
| 687.37 | (1) |
08/14/09 |
| AMERICAN FUNDS |
| 401K |
| 2,665.40 |
|
08/15/09 |
| BEEF O BRADY’S |
| TRAVEL EXPENSE |
| 35.98 | (1) |
08/15/09 |
| SHEETZ |
| FUEL |
| 61.34 | (1) |
08/17/09 |
| MCMASTER-CARR |
| TRADE VENDOR |
| 14.45 | (1) |
08/17/09 |
| BB&T MERCHANT SERVICES |
| MERCHANT FEE |
| 157.32 |
|
08/17/09 |
| BB&T MERCHANT SERVICES |
| MERCHANT FEE |
| 20.00 |
|
08/18/09 |
| Office of the U.S. Trustee |
| FEE |
| 650.00 |
|
08/18/09 |
| Cell-Con, Inc. |
| TRADE VENDOR |
| 25,552.60 |
|
08/18/09 |
| MCMASTER-CARR |
| TRADE VENDOR |
| 43.47 | (1) |
08/18/09 |
| NEWARK US |
| JOB SUPPLIES |
| 485.22 | (1) |
08/18/09 |
| STAPLES DIRECT |
| JOB SUPPLIES |
| 382.54 | (1) |
08/19/09 |
| Cell-Con, Inc. |
| TRADE VENDOR |
| 13,500.00 |
|
08/19/09 |
| BEEF O BRADY’S |
| TRAVEL EXPENSE |
| 20.73 | (1) |
08/19/09 |
| EXXONMOBIL |
| FUEL |
| 60.97 | (1) |
08/19/09 |
| MCMASTER-CARR |
| TRADE VENDOR |
| 68.70 | (1) |
08/19/09 |
| VOCELLIS PIZZA |
| TRAVEL EXPENSE |
| 41.77 | (1) |
08/20/09 |
| Allegheny Power |
| UTILITY |
| 2,585.50 |
|
08/20/09 |
| Bowman Sales & Equipment, Inc. |
| TRADE VENDOR |
| 95.40 |
|
08/20/09 |
| DHL Global Forwarding |
| TRADE VENDOR |
| 200.00 |
|
08/20/09 |
| FEDEX |
| TRADE VENDOR |
| 200.85 |
|
08/20/09 |
| Landstar Ranger, Inc. |
| TRADE VENDOR |
| 889.10 |
|
08/20/09 |
| NIOSH |
| TRADE VENDOR |
| 450.00 |
|
08/20/09 |
| Royal Case Co., Inc. |
| TRADE VENDOR |
| 6,915.00 |
|
08/20/09 |
| United Parcel Service-Philadelphia |
| TRADE VENDOR |
| 400.73 |
|
08/20/09 |
| GMAC |
| AUTO EXPENSE |
| 580.40 |
|
08/20/09 |
| GMAC |
| AUTO EXPENSE |
| 1,234.23 |
|
08/20/09 |
| Camelbak Products LLC |
| TRADE VENDOR |
| 460.99 |
|
08/20/09 |
| Scott Health & Safety |
| TRADE VENDOR |
| 5,181.79 |
|
08/21/09 |
| Cell-Con, Inc. |
| TRADE VENDOR |
| 36,018.50 |
|
08/21/09 |
| DIGI KEY CORP |
| JOB SUPPLIES |
| 601.46 | (1) |
08/21/09 |
| BB&T BANK |
| BANK FEES |
| 146.32 |
|
08/21/09 |
| BB&T BANK |
| BANK FEES |
| 143.24 |
|
08/21/09 |
| ADP |
| ADP FEES |
| 457.31 |
|
08/21/09 |
| CBIZ |
| FLEX SPENDING |
| 187.00 |
|
08/21/09 |
| BB&T BANK |
| BANK FEES |
| 504.78 |
|
08/24/09 |
| Saft America, Inc. |
| TRADE VENDOR |
| 41,580.00 |
|
08/24/09 |
| ESTES EXPRESS LINES INC. |
| TRADE VENDOR |
| 98.06 | (1) |
08/25/09 |
| Maxon Precision Motors |
| TRADE VENDOR |
| 24,712.50 |
|
08/25/09 |
| Datamatic CNC Eng. Co. Inc. |
| TRADE VENDOR |
| 9,700.00 |
|
08/25/09 |
| BEEF O BRADY’S |
| TRAVEL EXPENSE |
| 21.94 | (1) |
08/25/09 |
| MCMASTER-CARR |
| TRADE VENDOR |
| 266.86 | (1) |
08/25/09 |
| MOUSER ELECTRONICS |
| JOB SUPPLIES |
| 45.05 | (1) |
08/25/09 |
| WAL-MART |
| OFFICE SUPPLIES |
| 27.38 | (1) |
08/25/09 |
| ADP |
| NET PAYROLL |
| 31,202.60 | (2) |
08/26/09 |
| MicroMo Electronic, Inc. |
| TRADE VENDOR |
| 21,400.00 |
|
08/26/09 |
| BEEF O BRADY’S |
| TRAVEL EXPENSE |
| 19.94 | (1) |
08/26/09 |
| MCMASTER-CARR |
| TRADE VENDOR |
| 23.80 | (1) |
08/26/09 |
| MCMASTER-CARR |
| TRADE VENDOR |
| 200.20 | (1) |
08/26/09 |
| J&L INDUSTRIAL SUPPLY |
| JOB SUPPLIES |
| 104.63 | (1) |
08/26/09 |
| NEWARK US |
| JOB SUPPLIES |
| 1,464.21 | (1) |
2
Safety Tech International, Inc.
Case No. 09-15684
Exhibit C - Expenses
August 1, 2009 through August 31, 2009
Payment Date |
| Name of Creditor |
| Purpose |
| Amount Paid |
| |
|
|
|
|
|
|
|
| |
08/26/09 |
| ULINE |
| SHIPPING SUPPLIES |
| 75.14 | (1) | |
08/26/09 |
| ADP |
| NET PAYROLL TAXES |
| 15,459.29 | (2) | |
08/27/09 |
| Allegheny Power |
| UTILITY |
| 21.65 |
| |
08/27/09 |
| Con-way Multimodal Inc. |
| TRADE VENDOR |
| 350.00 |
| |
08/27/09 |
| DHL Global Forwarding |
| TRADE VENDOR |
| 450.00 |
| |
08/27/09 |
| United Parcel Service-Philadelphia |
| TRADE VENDOR |
| 282.94 |
| |
08/27/09 |
| Wilks Precision Instrument Co. |
| TRADE VENDOR |
| 10,887.52 |
| |
08/27/09 |
| Xecunet, LLC |
| TRADE VENDOR |
| 271.00 |
| |
08/27/09 |
| Polo Plastics |
| TRADE VENDOR |
| 11,050.55 | (3) | |
08/27/09 |
| ESTES EXPRESS LINES INC. |
| TRADE VENDOR |
| 98.06 | (1) | |
08/27/09 |
| FOTRONIC TEST EQUIPMENT |
| JOB SUPPLIES |
| 210.16 | (1) | |
08/27/09 |
| IMPACT OFFICE PRODUCTS |
| OFFICE SUPPLIES |
| (40.89 | )(1) | |
08/27/09 |
| ADP |
| NET PAYROLL CHECKS |
| 556.63 |
| |
08/28/09 |
| GRAPHCOM INC. |
| JOB SUPPLIES |
| 559.00 | (1) | |
08/28/09 |
| MCMASTER-CARR |
| TRADE VENDOR |
| 78.10 | (1) | |
08/28/09 |
| ADP |
| ADP FEES |
| 74.20 |
| |
08/29/09 |
| ALLIED ELECTRONICS INC. |
| JOB SUPPLIES |
| 35.66 | (1) | |
08/29/09 |
| BEEF O BRADY’S |
| TRAVEL EXPENSE |
| 21.73 | (1) | |
08/31/09 |
| Camelbak Products LLC |
| TRADE VENDOR |
| 4,462.50 |
| |
08/31/09 |
| Rubbercraft Corp. |
| TRADE VENDOR |
| 6,800.00 |
| |
08/31/09 |
| Maxon Precision Motors |
| TRADE VENDOR |
| 38,959.77 |
| |
08/31/09 |
| FASTENAL |
| JOB SUPPLIES |
| 687.37 | (1) | |
08/31/09 |
| SHEETZ |
| FUEL |
| 47.92 | (1) | |
08/31/09 |
| STAPLES DIRECT |
| JOB SUPPLIES |
| 74.18 | (1) | |
|
|
|
|
|
|
|
| |
|
| TOTAL AUGUST 2009 EXPENSES |
| Total Expenses per Exhibit 5 |
| 506,280.03 |
| |
|
|
|
|
|
|
|
| |
|
|
|
| Less credit card charges above |
| (24,548.77 | ) | |
|
|
|
|
|
|
|
| |
|
|
|
| Disbursements per Exhibit F |
| 481,731.26 |
| |
|
|
|
|
|
|
|
| |
|
|
|
| Less outstanding checks at 8/31 |
| (68,850.77 | ) | |
|
|
|
| Plus July checks cleared in August |
| 77,386.48 |
| |
|
|
|
| Less payments made by TVI Corporation (Case No. 09-15677) |
| (97,926.57 | )(2) | |
|
|
|
|
|
|
|
| |
|
|
|
| Disbursements per Exhibit 6 |
| $ | 392,340.40 |
|
(1) Intercompany charge made on credit card in the name of TVI Corporation (Case No. 09-15677).
(2) Payroll and vendor payment paid out of bank account of TVI Corporation (Case No. 09-15677).
(3)Prepetition payment to critical vendor.
3
Safety Tech International, Inc.
Case No. 09-15684
Exhibit D - Money Owed
August 31, 2009
Vendor Name |
| Due Date |
| Purpose |
| Amount |
| |
|
|
|
|
|
|
|
| |
Allegheny Power |
| Current |
| Utilites |
| $ | 1,258.30 |
|
Bowman Sales & Equipment, Inc. |
| Current |
| Trade Vendor |
| 95.40 |
| |
C & M Corporation |
| Current |
| Trade Vendor |
| (528.60 | ) | |
Capital Electro-Circuits, Inc. |
| Current |
| Trade Vendor |
| 198.56 |
| |
Cell-Con, Inc. |
| Current |
| Trade Vendor |
| 31,883.60 |
| |
Cintas Corp. |
| Current |
| Trade Vendor |
| 246.48 |
| |
Crushproof Tubing Company |
| Current |
| Trade Vendor |
| 1,663.75 |
| |
DHL Global Forwarding |
| Current |
| Trade Vendor |
| 100.00 |
| |
Digi-Key Corp. |
| Current |
| Trade Vendor |
| 601.46 |
| |
Fastenal |
| Current |
| Trade Vendor |
| 687.37 |
| |
Gage Crib Worldwide, Inc. |
| Current |
| Trade Vendor |
| 252.00 |
| |
Gateway Packaging Corporation |
| Current |
| Trade Vendor |
| 2,448.60 |
| |
Hollingsworth & Vose |
| Current |
| Trade Vendor |
| (660.00 | ) | |
McMaster-Carr |
| Current |
| Trade Vendor |
| 78.10 |
| |
Nex Image |
| Current |
| Trade Vendor |
| 82.15 |
| |
RBL Industries |
| Current |
| Trade Vendor |
| (11.72 | ) | |
Staples Credit Plan |
| Current |
| Trade Vendor |
| 382.54 |
| |
TelCove Operations |
| Current |
| Trade Vendor |
| 317.04 |
| |
Tessy Plastics |
| Current |
| Trade Vendor |
| 8,265.81 |
| |
Washington Gas |
| Current |
| Utilites |
| 105.58 |
| |
World Class Packaging |
| Current |
| Trade Vendor |
| 1,166.55 |
| |
|
|
|
|
|
|
|
| |
Total Amount Due: |
|
|
|
|
| $ | 48,632.97 |
|
Safety Tech International
Case No. 09-15684
Exhibit E - Accounts Receivables as of 8/31/09
Customer |
| Current |
| Over 30 |
| Over 60 |
| Over 90 |
| Over 120 |
| Total Amount Due |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Albert Einstein Medical Center |
| $ | 705.49 |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | 705.49 |
|
Aramsco, Inc. |
| — |
| — |
| 366.60 |
| — |
| — |
| 366.60 |
| ||||||
Avon - ISI |
| 6,300.00 |
| — |
| — |
| — |
| — |
| 6,300.00 |
| ||||||
Avox Systems |
| (2,354.00 | ) | — |
| — |
| 2,360.18 |
| — |
| 6.18 |
| ||||||
Bullard |
| 62,885.45 |
| 1,112.90 |
| — |
| — |
| — |
| 63,998.35 |
| ||||||
DFAS BVDP (SL4701) |
| — |
| — |
| — |
| 696.44 |
| — |
| 696.44 |
| ||||||
Draeger Safety, Inc. |
| 372.00 |
| — |
| — |
| — |
| — |
| 372.00 |
| ||||||
Duke University |
| 2,331.04 |
| — |
| — |
| — |
| — |
| 2,331.04 |
| ||||||
EMS Innovations, Inc. |
| 6,707.13 |
| 7,985.40 |
| — |
| — |
| — |
| 14,692.53 |
| ||||||
Fauquier Hospital |
| 5,705.26 |
| — |
| — |
| — |
| — |
| 5,705.26 |
| ||||||
Federal Resources Supply Company |
| 4,699.11 |
| — |
| — |
| — |
| — |
| 4,699.11 |
| ||||||
Ferno-Washington, Inc. |
| 2,625.00 |
| 401.00 |
| — |
| — |
| — |
| 3,026.00 |
| ||||||
FMS |
| — |
| 19,844.04 |
| — |
| — |
| — |
| 19,844.04 |
| ||||||
ISI (International Safety Inst.) |
| 14,705.50 |
| 8,146.50 |
| — |
| — |
| — |
| 22,852.00 |
| ||||||
Jackson Safety |
| 26,707.19 |
| 6,456.96 |
| — |
| — |
| — |
| 33,164.15 |
| ||||||
Lenyirub C por A |
| 615.43 |
| — |
| — |
| — |
| — |
| 615.43 |
| ||||||
MSA (Mine Safety Appliances Co.) |
| 148,986.50 |
| 66,310.75 |
| — |
| — |
| — |
| 215,297.25 |
| ||||||
Nana Pacific, LLC |
| 34,065.82 |
| 2,334.25 |
| — |
| — |
| — |
| 36,400.07 |
| ||||||
National Safety Supply, Inc. |
| 84.00 |
| — |
| — |
| — |
| — |
| 84.00 |
| ||||||
Potomac River Group, LLC |
| 5,035.00 |
| — |
| — |
| — |
| — |
| 5,035.00 |
| ||||||
Royal Military College |
| — |
| 269.64 |
| — |
| — |
| — |
| 269.64 |
| ||||||
Seattle Tarp Company |
| 14,061.66 |
| — |
| — |
| — |
| — |
| 14,061.66 |
| ||||||
South Suburban Hospital |
| — |
| — |
| — |
| — |
| 250.73 |
| 250.73 |
| ||||||
Sperian Respiratory Protection |
| — |
| — |
| — |
| — |
| 189.00 |
| 189.00 |
| ||||||
SRT Supply, Inc. |
| — |
| 498.50 |
| — |
| — |
| — |
| 498.50 |
| ||||||
TQM Inc. / DBA Two Rivers Media |
| — |
| 12,223.94 |
| — |
| — |
| — |
| 12,223.94 |
| ||||||
TSL Aerospace Technologies Ltd |
| 3,381.10 |
| — |
| — |
| — |
| — |
| 3,381.10 |
| ||||||
Tyco/Scott Health and Safety |
| 24,069.19 |
| — |
| — |
| — |
| — |
| 24,069.19 |
| ||||||
Unicorn International |
| — |
| 618.00 |
| — |
| — |
| — |
| 618.00 |
| ||||||
USP Lewisburg |
| 8,847.79 |
| — |
| — |
| — |
| — |
| 8,847.79 |
| ||||||
Washington County Hospital |
| 1,680.60 |
| — |
| — |
| — |
| — |
| 1,680.60 |
| ||||||
WellCrown International Resources |
| (50.00 | ) | — |
| — |
| — |
| — |
| (50.00 | ) | ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Total Amount Due |
| $ | 372,166.26 |
| $ | 126,201.88 |
| $ | 366.60 |
| $ | 3,056.62 |
| $ | 439.73 |
| $ | 502,231.09 |
|
TVI Corporation, et al.
Case No. 09-15677
Exhibit F - - Projections (1)
August 1, 2009 through August 31, 2009
|
| Projections |
| Actual |
| Variance |
| |||
|
|
|
|
|
|
|
| |||
Cash Receipts |
| $ | 2,341,200 |
| $ | 1,434,364 |
| $ | (906,836 | ) |
|
|
|
|
|
|
|
| |||
Cash Disbursements: |
|
|
|
|
|
|
| |||
|
|
|
|
|
|
|
| |||
Compensation and benefits |
| 581,200 |
| 520,704 |
| 60,496 |
| |||
Facility costs |
| 195,400 |
| 138,329 |
| 57,071 |
| |||
Other expenses |
| 252,400 |
| 166,909 |
| 85,491 |
| |||
Vendor payments |
| 673,389 |
| 659,513 |
| 13,876 |
| |||
Interest expense |
| 247,000 |
| 241,953 |
| 5,047 |
| |||
Critical vendor payments |
| 230,877 |
| 165,179 |
| 65,698 |
| |||
Bank fees and expenses |
| 121,000 |
| 66,879 |
| 54,121 |
| |||
Chapter 11 expenses |
| 282,000 |
| 202,320 |
| 79,680 |
| |||
Total disbursements |
| 2,583,266 |
| 2,161,786 |
| 421,479 |
| |||
Net Cash Use (2) |
| $ | (242,066 | ) | $ | (727,422 | ) | $ | (485,357 | ) |
(1) Projections are shown on a consolidated basis related to the following jointly administered cases:
TVI Corporation (Case No. 09-15677)
and its 100% wholly-owned subsidiaries:
Safety Tech International, Inc. (Case No. 09-15684)
Signature Special Event Services, Inc. (Case No. 09-15686)
CAPA Manufacturing Corp. (Case No. 09-15758)
TVI Corporation, et al, is required to meet specific tests as part of the DIP lending facility based on a consolidated budget compared to consolidated actual results.
As of August 31, 2009 TVI Corporation and its subsidiaries were in compliance with these tests.
(2) The negative variance of $485,357 is almost exclusively due to a cash receipt in August which was delayed in the mail. A wire transfer for $412,415 was subsequently received on September 10, 2009, and would have put the consolidated debtors’ operating results close to its projections for the current month. The cash receipt will be reported in September.
