Exhibit 99.1
| MOR-1 | UNITED STATES BANKRUPTCY COURT | |||
| CASE NAME: Southern Investors Service Company, Inc. | PETITION DATE: | April 8, 2005 | ||
| CASE NUMBER: 05-35538-H4-11 | DISTRICT OF TEXAS: | Southern | ||
| PROPOSED PLAN DATE: 5/16/2005 | DIVISION: | Houston |
MONTHLY OPERATING REPORT SUMMARY FOR MONTH SEPTEMBER 2005
MONTH | April | May | June | July | August | September | ||||||||||||||||||
| REVENUES (MOR-6) | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||
| INCOME BEFORE INT; DEPREC./TAX (MOR-6) | ($733.00 | ) | ($31,113.13 | ) | ($16,661.49 | ) | ($18,073.65 | ) | ($29,615.78 | ) | ($15,068.55 | ) | ||||||||||||
| NET INCOME (LOSS) (MOR-6) | $ | 3,286.83 | ($28,568.72 | ) | ($22,793.11 | ) | ($25,644.07 | ) | ($27,581.88 | ) | ($14,628.00 | ) | ||||||||||||
| PAYMENTS TO INSIDERS (MOR-9) | $ | 0.00 | $ | 100.00 | $ | 2,733.00 | $ | 1,000.00 | $ | 1,100.00 | $ | 1,200.00 | ||||||||||||
| PAYMENTS TO PROFESSIONALS (MOR-9) | $ | 0.00 | $ | 0.00 | $ | 4,343.67 | $ | 0.00 | $ | 5,308.28 | $ | 42,075.98 | ||||||||||||
| TOTAL DISBURSEMENTS (MOR-8) | $ | 0.00 | $ | 1,813.90 | $ | 17,070.70 | $ | 12,907.48 | $ | 8,843.17 | $ | 47,094.30 | ||||||||||||
| *** | The original of this document must be filed with the United States Bankruptcy Court and a copy must be sent to the United States Trustee*** |
REQUIRED INSURANCE MAINTAINED AS OF SIGNATURE DATE | EXP. DATE | |||
CASUALTY | YESx NO¨ | 2-01-2006 | ||
LIABILITY | YESx NO¨ | 2-01-2006 | ||
VEHICLE | YESx NO¨ | 2-01-2006 | ||
WORKER’S | YES¨ NOx | - - | ||
OTHER | YESx NO¨ | 3-15-2006 | ||
| ATTORNEY NAME: | Gary C. Miller | |
| FIRM NAME: | Andrews Kurth LLP | |
| ADDRESS: | 600 Travis | |
| Suite 4200 | ||
| CITY, STATE, ZIP: | Houston, Texas 77002 | |
| TELEPHONE/FAX: | Ph 713-2204200 Fax 713-220-4285 |
CIRCLE ONE | ||
Are all accounts receivable being collected within terms? | No | |
Are all post-petition liabilities, including taxes, being paid within terms? | Yes | |
Have any pre-petition liabilities been paid? | No | |
If so, describe | ||
Are all funds received being deposited into DIP bank accounts? | Yes | |
Were any assets disposed of outside the normal course of business? | No | |
If so, describe | ||
Are all U.S. Trustee Quarterly Fee Payments current? | Yes | |
What is the status of your Plan of Reorganization? | The Debtor filed its First Amended Plan of Distribution on July 7, 2005. A confirmation hearing on the Debtor’s First Amended Plan of Distribution was held and the Plan was confirmed on 10/13/2005 | |
I certify under penalty of perjury that the following complete Monthly Operating Report (MOR), consisting of MOR-1 through MOR-9 plus attachments, is true and correct.
| SIGNED X | /s/ ERIC SCHUMANN | Senior Vice-President | ||||||
| (ORIGINAL SIGNATURE) | ||||||||
| Eric Schumann | 10/19/2005 | |||||||
| (PRINT NAME OF SIGNATORY) | DATE | |||||||
| MOR-1 | Revised 07/01/98 | |||||||
CASE NAME: Southern Investors Service Company, Inc.
CASE NUMBER:05-35538-H4-11
COMPARATIVE BALANCE SHEETS
| FILING DATE | MONTH | MONTH | MONTH | MONTH | MONTH | MONTH | |||||||||||||||
| 4/8/2005 0:00 | April | May | June | July | August | September | |||||||||||||||
ASSETS | |||||||||||||||||||||
CURRENT ASSETS | |||||||||||||||||||||
Cash | $ | 1,987,139.56 | $ | 1,993,290.29 | $ | 1,996,539.97 | $ | 1,983,877.27 | $ | 1,975,666.38 | $ | 1,972,255.52 | $ | 1,929,852.14 | |||||||
Accounts Receivable, Net | $ | 32,328.76 | $ | 30,197.86 | $ | 29,492.59 | $ | 28,947.00 | $ | 28,587.47 | $ | 27,723.95 | $ | 27,491.90 | |||||||
Inventory: Lower of Cost or Market | |||||||||||||||||||||
Prepaid Expenses | |||||||||||||||||||||
Investments | $ | 703,000.00 | $ | 703,000.00 | $ | 703,000.00 | $ | 703,000.00 | $ | 703,000.00 | $ | 703,000.00 | $ | 703,000.00 | |||||||
Other | |||||||||||||||||||||
TOTAL CURRENT ASSETS | $ | 2,722,468.32 | $ | 2,726,488.15 | $ | 2,729,032.56 | $ | 2,715,824.27 | $ | 2,707,253.85 | $ | 2,702,979.47 | $ | 2,660,344.04 | |||||||
PROPERTY, PLANT & EQUIP. @ COST | |||||||||||||||||||||
Less Accumulated Depreciation | |||||||||||||||||||||
NET BOOK VALUE OF PP & E | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||
OTHER ASSETS | |||||||||||||||||||||
1. Tax Deposits | |||||||||||||||||||||
2. Investments in Subsidiaries | |||||||||||||||||||||
3. Electric Deposit | |||||||||||||||||||||
4. | |||||||||||||||||||||
TOTAL ASSETS | $ | 2,722,468.32 | $ | 2,726,488.15 | $ | 2,729,032.56 | $ | 2,715,824.27 | $ | 2,707,253.85 | $ | 2,702,979.47 | $ | 2,660,344.04 | |||||||
| MOR-2 | Revised 07/01/98 |
CASE NAME:Southern Investors Service Company, Inc.
CASE NUMBER:05-35538-H4-11
COMPARATIVE BALANCE SHEETS
| FILING DATE | MONTH | MONTH | MONTH | MONTH | MONTH | MONTH | ||||||||||||||||||||||
| 4/8/2005 | April | May * | June | July | August | September | ||||||||||||||||||||||
LIABILITIES & OWNER’S EQUITY | ||||||||||||||||||||||||||||
LIABILITIES | ||||||||||||||||||||||||||||
POST-PETITION LIABILITIES(MOR-4) | $ | 733.00 | $ | 31,846.13 | $ | 41,430.95 | $ | 58,504.60 | $ | 81,812.10 | $ | 53,804.67 | ||||||||||||||||
PRE-PETITION LIABILITIES | ||||||||||||||||||||||||||||
Notes Payable - Secured | ||||||||||||||||||||||||||||
Priority Debt | $ | 1,706.04 | $ | 1,706.04 | $ | 1,706.04 | $ | 1,706.04 | $ | 1,706.04 | $ | 1,706.04 | $ | 1,706.04 | ||||||||||||||
Federal Income Tax | ||||||||||||||||||||||||||||
FICA/Withholding | ||||||||||||||||||||||||||||
Unsecured Debt | $ | 8,634,350.43 | $ | 8,634,350.43 | $ | 8,634,350.43 | $ | 8,634,350.43 | $ | 8,634,350.43 | $ | 8,634,350.43 | $ | 8,634,350.43 | ||||||||||||||
Other | ||||||||||||||||||||||||||||
TOTAL PRE-PETITION LIABILITIES | $ | 8,636,056.47 | $ | 8,636,056.47 | $ | 8,636,056.47 | $ | 8,636,056.47 | $ | 8,636,056.47 | $ | 8,636,056.47 | $ | 8,636,056.47 | ||||||||||||||
TOTAL LIABILITIES | $ | 8,636,056.47 | $ | 8,636,789.47 | $ | 8,667,902.60 | $ | 8,677,487.42 | $ | 8,694,561.07 | $ | 8,717,868.57 | $ | 8,689,861.14 | ||||||||||||||
OWNER’S EQUITY (DEFICIT) | ||||||||||||||||||||||||||||
PREFERRED STOCK | ||||||||||||||||||||||||||||
COMMON STOCK | $ | 3,281,331.00 | $ | 3,281,331.00 | $ | 3,281,331.00 | $ | 3,281,331.00 | $ | 3,281,331.00 | $ | 3,281,331.00 | $ | 3,281,331.00 | ||||||||||||||
ADDITIONAL PAID-IN CAPITAL | $ | 2,905,072.00 | $ | 2,905,072.00 | $ | 2,905,072.00 | $ | 2,905,072.00 | $ | 2,905,072.00 | $ | 2,905,072.00 | $ | 2,905,072.00 | ||||||||||||||
RETAINED EARNINGS: Filing Date | ($12,099,991.15 | ) | ($12,099,991.15 | ) | ($12,099,991.15 | ) | ($12,099,991.15 | ) | ($12,099,991.15 | ) | ($12,099,991.15 | ) | ($12,099,991.15 | ) | ||||||||||||||
RETAINED EARNINGS: Post Filing Date | $ | 3,286.83 | ($25,281.89 | ) | ($48,075.00 | ) | ($73,719.07 | ) | ($101,300.65 | ) | ($115,928.95 | ) | ||||||||||||||||
TOTAL OWNER’S EQUITY (NET WORTH) | ($5,913,588.15 | ) | ($5,910,301.32 | ) | ($5,938,870.04 | ) | ($5,961,663.15 | ) | ($5,987,307.22 | ) | ($6,014,888.80 | ) | ($6,029,517.10 | ) | ||||||||||||||
TOTAL LIABILITIES & OWNER’S EQUITY | $ | 2,722,468.32 | $ | 2,726,488.15 | $ | 2,729,032.56 | $ | 2,715,824.27 | $ | 2,707,253.85 | $ | 2,702,979.77 | $ | 2,660,344.04 | ||||||||||||||
| * | Note that the postpetition liabilities for May have been reduced by $4,012.50 to reflect a recent adjustment of the invoice of Andrews Kurth LLP |
| $0.00 | ||
| MOR-3 | Revised 07/01/98 |
CASE NAME:Southern Investors Service Company, Inc.
CASE NUMBER:05-35538-H4-11
SCHEDULE OF POST-PETITION LIABILITIES
| MONTH April | MONTH May | MONTH June | MONTH July | MONTH August | MONTH September | |||||||||||||
TRADE ACCOUNTS PAYABLE | ||||||||||||||||||
TAX PAYABLE | ||||||||||||||||||
Federal Payroll Taxes | ||||||||||||||||||
State Payroll Taxes | ||||||||||||||||||
Ad Valorem Taxes | ||||||||||||||||||
Other Taxes | ||||||||||||||||||
TOTAL TAXES PAYABLE | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||
SECURED DEBT POST-PETITION | ||||||||||||||||||
ACCRUED INTEREST PAYABLE | ||||||||||||||||||
ACCRUED PROFESSIONAL FEES* | 30,113.13 | 41,430.95 | 58,504.60 | 81,812.10 | 53,804.67 | |||||||||||||
OTHER ACCRUED LIABILITIES | ||||||||||||||||||
1. Management Fee | 733.00 | 1,733.00 | 0.00 | |||||||||||||||
2. | ||||||||||||||||||
3. | ||||||||||||||||||
TOTAL POST-PETITION LIABILITIES (MOR-3) | $ | 733.00 | $ | 31,846.13 | $ | 41,430.95 | $ | 58,504.60 | $ | 81,812.10 | $ | 53,804.67 | ||||||
| * | Payment requires Court Approval |
| * | Note that the professional fees for May have been reduced by $4,012.50 to reflect a recent adjustment of the invoice of Andrews Kurth LLP |
| MOR-4 | Revised 07/01/98 |
CASE NAME:Southern Investors Service Company, Inc.
CASE NUMBER:05-35538-H4-11
AGING OF POST-PETITION LIABILITIES
MONTHSeptember
DAYS | TOTAL | TRADE ACCOUNTS | FEDERAL TAXES | STATE TAXES | AD VALOREM, OTHER TAXES | MONTH | ||||||||||||
0-30 | 13,423.55 | 13,423.55 | ||||||||||||||||
31-60 | 23,307.50 | 23,307.50 | ||||||||||||||||
61-90 | 17,073.62 | 17,073.62 | ||||||||||||||||
91+ | 0.00 | 0.00 | ||||||||||||||||
TOTAL | $ | 53,804.67 | $ | 53,804.67 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||
| AGING OF ACCOUNTS RECEIVABLE | ||||||||||||||||||
MONTH | ||||||||||||||||||
0-30 DAYS | ||||||||||||||||||
31-60 DAYS | ||||||||||||||||||
61-90 DAYS | ||||||||||||||||||
91+ DAYS | ||||||||||||||||||
TOTAL | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||
| * | Note that the postpetition liabilities for May have been reduced by $4,012.50 to reflect a recent adjustment of the invoice of Andrews Kurth LLP. |
| MOR-5 | Revised 07/01/98 |
CASE NAME:Southern Investors Service Company, Inc.
CASE NUMBER:05-35538-H4-11
STATEMENT OF INCOME (LOSS)
| MONTH April | MONTH May | MONTH June | MONTH July | MONTH August | MONTH September | FILING TO DATE | ||||||||||||||||||||||
REVENUES (MOR-1) | $ | 0.00 | ||||||||||||||||||||||||||
TOTAL COST OF REVENUES | $ | 0.00 | ||||||||||||||||||||||||||
GROSS PROFIT | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||||||
OPERATING EXPENSES: | ||||||||||||||||||||||||||||
Selling & Marketing | $ | 0.00 | ||||||||||||||||||||||||||
General & Administrative | $ | 0.00 | ||||||||||||||||||||||||||
Insiders Compensation (Management Fee) | $ | 733.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 5,733.00 | ||||||||||||||
Professional Fees | $ | 30,113.13 | $ | 15,661.49 | $ | 17,073.65 | $ | 28,615.78 | $ | 14,068.55 | $ | 105,532.60 | ||||||||||||||||
Other | $ | 0.00 | ||||||||||||||||||||||||||
Other | $ | 0.00 | ||||||||||||||||||||||||||
TOTAL OPERATING EXPENSES | $ | 733.00 | $ | 31,113.13 | $ | 16,661.49 | $ | 18,073.65 | $ | 29,615.78 | $ | 15,068.55 | $ | 111,265.60 | ||||||||||||||
INCOME BEFORE INT, DEPR/TAX (MOR-1) | ($733.00 | ) | ($31,113.13 | ) | ($16,661.49 | ) | ($18,073.65 | ) | ($29,615.78 | ) | ($15,068.55 | ) | ($111,265.60 | ) | ||||||||||||||
INTEREST EXPENSE | $ | 0.00 | ||||||||||||||||||||||||||
DEPRECIATION | $ | 0.00 | ||||||||||||||||||||||||||
OTHER (INCOME) EXPENSE* | ($ | 4,019.83 | ) | $ | (2,544.41 | ) | $ | 6,131.62 | $ | 7,570.42 | $ | (2,033.90 | ) | $ | (440.55 | ) | $ | 4,663.35 | ||||||||||
OTHER ITEMS** | $ | 0.00 | ||||||||||||||||||||||||||
TOTAL INT, DEPR & OTHER ITEMS | ($ | 4,019.83 | ) | ($2,544.41 | ) | $ | 6,131.62 | $ | 7,570.42 | ($2,033.90 | ) | ($440.55 | ) | $ | 4,663.35 | |||||||||||||
NET INCOME BEFORE TAXES | $ | 3,286.83 | ($28,568.72 | ) | ($22,793.11 | ) | ($25,644.07 | ) | ($27,581.88 | ) | ($14,628.00 | ) | ($115,928.95 | ) | ||||||||||||||
FEDERAL INCOME TAXES | $ | 0.00 | ||||||||||||||||||||||||||
NET INCOME (LOSS) (MOR-1) | $ | 3,286.83 | ($28,568.72 | ) | ($22,793.11 | ) | ($25,644.07 | ) | ($27,581.88 | ) | ($14,628.00 | ) | ($115,928.95 | ) | ||||||||||||||
Accrual Accounting Required, Otherwise Footnote with Explanation.
| * | Footnote Mandatory. |
| ** | Unusual and/or infrequent item(s) outside the ordinary course of business requires footnote. |
| * | Note that the postpetition liabilities for May have been reduced by $4,012.50 to reflect a recent adjustment of the invoice of Andrews Kurth LLP. |
| MOR-6 | Revised 07/01/98 |
Southern Investors Service Company, Inc.
Other Income & Expense
Attachment to MOR 6
| April | May | June | July | August | September | |||||||||||||||||
Interest Income | $ | 3,985.83 | $ | 3,852.79 | $ | 3,852.41 | $ | 3,972.30 | $ | 4,379.18 | $ | 4,233.03 | ||||||||||
Fee Income | $ | 25.00 | $ | 15.00 | $ | 10.00 | $ | — | $ | 5.00 | $ | 2.50 | ||||||||||
Void Check | $ | 9.00 | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
Royalties | $ | — | $ | 490.52 | $ | — | $ | 364.76 | $ | 184.61 | $ | 223.34 | ||||||||||
Other Income | $ | 4,019.83 | $ | 4,358.31 | $ | 3,862.41 | $ | 4,337.06 | $ | 4,568.79 | $ | 4,458.87 | ||||||||||
Securities & Exchange Reporting | $ | — | $ | 1,210.93 | $ | 9,195.09 | $ | 10,090.93 | $ | 1,793.34 | $ | 3,394.92 | ||||||||||
Repairs Maintence | $ | — | $ | 100.00 | $ | — | $ | — | $ | — | $ | 200.00 | ||||||||||
General Administrative | $ | — | $ | 484.76 | $ | 798.94 | $ | 1,566.55 | $ | 491.55 | $ | 423.40 | ||||||||||
US Trustee Fees | $ | 250.00 | $ | 250.00 | $ | — | ||||||||||||||||
Other | $ | — | $ | 18.21 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Other Disbursements | $ | — | $ | 1,813.90 | $ | 9,994.03 | $ | 11,907.48 | $ | 2,534.89 | $ | 4,018.32 | ||||||||||
Other (Income) Expense | $ | (4,019.83 | ) | $ | (2,544.41 | ) | $ | 6,131.62 | $ | 7,570.42 | $ | (2,033.90 | ) | $ | (440.55 | ) | ||||||
CASE NAME:Southern Investors Service Company, Inc.
CASE NUMBER:05-35538-H4-11
| MONTH | MONTH | MONTH | MONTH | MONTH | MONTH | FILING TO | ||||||||||||||||||||
| April | May | June | July | August | September | DATE | ||||||||||||||||||||
| CASH RECEIPTS AND DISBURSEMENTS | ||||||||||||||||||||||||||
1. CASH-BEGINNING OF MONTH | $ | 1,987,139.56 | $ | 1,993,290.29 | $ | 1,996,539.97 | $ | 1,983,877.27 | $ | 1,975,666.38 | $ | 1,972,255.52 | $ | 1,987,139.56 | ||||||||||||
RECEIPTS: | ||||||||||||||||||||||||||
2. CASH SALES | $ | 0.00 | ||||||||||||||||||||||||
3. COLLECTION OF ACCOUNTS RECEIVABLE | $ | 0.00 | ||||||||||||||||||||||||
4. LOANS & ADVANCES (attach list) | $ | 2,130.90 | $ | 705.27 | $ | 545.59 | $ | 359.53 | $ | 863.52 | $ | 232.05 | $ | 4,836.86 | ||||||||||||
5. SALE OF ASSETS | $ | 0.00 | ||||||||||||||||||||||||
6. OTHER (attach list) | $ | 4,019.83 | $ | 4,358.31 | $ | 3,862.41 | $ | 4,337.06 | $ | 4,568.79 | $ | 4,458.87 | $ | 25,605.27 | ||||||||||||
TOTAL RECEIPTS** | $ | 6,150.73 | $ | 5,063.58 | $ | 4,408.00 | $ | 4,696.59 | $ | 5,432.31 | $ | 4,690.92 | $ | 30,442.13 | ||||||||||||
(Withdrawal) Contribution by Individual Debtor MFR-2* | $ | 0.00 | ||||||||||||||||||||||||
| DISBURSEMENTS: | ||||||||||||||||||||||||||
7. NET PAYROLL | $ | 0.00 | ||||||||||||||||||||||||
8. PAYROLL TAXES PAID | $ | 0.00 | ||||||||||||||||||||||||
9. SALES, USE & OTHER TAXES PAID | $ | 0.00 | ||||||||||||||||||||||||
10. SECURED/RENTAL/LEASES | $ | 0.00 | ||||||||||||||||||||||||
11. UTILITIES & TELEPHONE | $ | 0.00 | ||||||||||||||||||||||||
12. INSURANCE | $ | 0.00 | ||||||||||||||||||||||||
13. INVENTORY PURCHASES | $ | 0.00 | ||||||||||||||||||||||||
14. VEHICLE EXPENSES | $ | 0.00 | ||||||||||||||||||||||||
15. TRAVEL & ENTERTAINMENT | $ | 0.00 | ||||||||||||||||||||||||
16. REPAIRS, MAINTENANCE & SUPPLIES | $ | 100.00 | $ | 100.00 | $ | 200.00 | $ | 400.00 | ||||||||||||||||||
17. ADMINISTRATIVE & SELLING | $ | 484.76 | $ | 798.94 | $ | 1,566.55 | $ | 391.55 | $ | 423.40 | $ | 3,665.20 | ||||||||||||||
18. OTHER (attach list) | $ | 1,229.14 | $ | 11,928.09 | $ | 11,090.93 | $ | 2,793.34 | $ | 4,394.92 | $ | 31,436.42 | ||||||||||||||
TOTAL DISBURSEMENTS FROM OPERATIONS | $ | 0.00 | $ | 1,813.90 | $ | 12,727.03 | $ | 12,657.48 | $ | 3,284.89 | $ | 5,018.32 | $ | 35,501.62 | ||||||||||||
19. PROFESSIONAL FEES | $ | 4,343.67 | $ | 5,308.28 | $ | 42,075.98 | $ | 51,727.93 | ||||||||||||||||||
20. U.S. TRUSTEE FEES | $ | 250.00 | $ | 250.00 | $ | 500.00 | ||||||||||||||||||||
21. OTHER REORGANIZATION EXPENSES (attach list) | $ | 0.00 | ||||||||||||||||||||||||
TOTAL DISBURSEMENTS** | $ | 0.00 | $ | 1,813.90 | $ | 17,070.70 | $ | 12,907.48 | $ | 8,843.17 | $ | 47,094.30 | $ | 87,729.55 | ||||||||||||
22. NET CASH FLOW | $ | 6,150.73 | $ | 3,249.68 | ($12,662.70 | ) | ($8,210.89 | ) | ($3,410.86 | ) | ($42,403.38 | ) | ($57,287.42 | ) | ||||||||||||
23. CASH - END OF MONTH (MOR-2) | $ | 1,993,290.29 | $ | 1,996,539.97 | $ | 1,983,877.27 | $ | 1,975,666.38 | $ | 1,972,255.52 | $ | 1,929,852.14 | $ | 1,929,852.14 | ||||||||||||
| * | Applies to Individual debtors only |
| ** | Numbers for the current month should balance (match) RECEIPTS and CHECKS/OTHER DISBURSEMENTS lines on MOR-8 |
| MOR-7 | Revised 07/01/98 |
Southern Investors Service Company, Inc.
Notes Receivable Analysis September, 2005
Attachment to MOR 7
Note No. | Name of Payee | Note Maturity | Int Rate | Monthly Payment | Balance 31-Aug-05 | Interest | Principal | Late Fee | Total Payment | Balance 30-Sep-05 | ||||||||||||||||||||
| 1275 | SULLIVAN, JANET S | 1-Apr-06 | 9.50 | % | $ | 82.82 | $ | 890.14 | $ | — | $ | — | $ | — | $ | — | $ | 890.14 | ||||||||||||
| N/A | GOSSIEN, FRED | 10-Oct-09 | 8.25 | % | $ | 78.50 | $ | 3,314.23 | $ | 22.79 | $ | 55.71 | $ | — | $ | 78.50 | $ | 3,258.52 | ||||||||||||
| 1287 | HURT, PAUL & RENEE | 1-Oct-08 | 8.50 | % | $ | 138.86 | $ | 4,696.11 | $ | 33.26 | $ | 105.60 | $ | 2.50 | $ | 141.36 | $ | 4,590.51 | ||||||||||||
| N/A | LEROY, STEPHEN & APRIL | 15-Oct-09 | 8.00 | % | $ | 48.53 | $ | 1,990.83 | $ | — | $ | — | $ | — | $ | — | $ | 1,990.83 | ||||||||||||
| N/A | SULLIVAN, JR | 1-Sep-09 | 8.25 | % | $ | 157.00 | $ | 6,460.63 | $ | — | $ | — | $ | — | $ | — | $ | 6,460.63 | ||||||||||||
| N/A | SULLIVAN, JANET | 1-Mar-10 | 8.00 | % | $ | 61.88 | $ | 2,841.40 | $ | — | $ | — | $ | — | $ | — | $ | 2,841.40 | ||||||||||||
| 1289 | THOMPSON, ELIZABETH | 25-Feb-09 | 8.50 | % | $ | 49.59 | $ | 1,796.98 | $ | 12.73 | $ | 36.86 | $ | — | $ | 49.59 | $ | 1,760.12 | ||||||||||||
| N/A | THOMPSON, ELIZABETH | 1-Mar-10 | 8.00 | % | $ | 48.52 | $ | 2,195.65 | $ | 14.64 | $ | 33.88 | $ | — | $ | 48.52 | $ | 2,161.77 | ||||||||||||
| 1288 | WHITE, SCOTT R | 1-Feb-09 | 8.50 | % | $ | 79.35 | $ | 3,537.98 | $ | — | $ | — | $ | — | $ | — | $ | 3,537.98 | ||||||||||||
| $ | 27,723.95 | $ | 83.42 | $ | 232.05 | $ | 2.50 | $ | 317.97 | $ | 27,491.90 | |||||||||||||||||||
Southern Investors Service Company, Inc.
Attachment to MOR 7
Receipts | April | May | June | July | August | September | ||||||||||||
Royalities | $ | — | $ | 490.52 | $ | — | $ | 364.76 | $ | 184.61 | $ | 223.34 | ||||||
Interest Earned | $ | 3,985.83 | $ | 3,852.79 | $ | 3,852.41 | $ | 3,972.30 | $ | 4,379.18 | $ | 4,233.03 | ||||||
Fee Income | $ | 25.00 | $ | 15.00 | $ | 10.00 | $ | — | $ | 5.00 | $ | 2.50 | ||||||
Voided Check | $ | 9.00 | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||
| $ | 4,019.83 | $ | 4,358.31 | $ | 3,862.41 | $ | 4,337.06 | $ | 4,568.79 | $ | 4,458.87 | |||||||
Disbursements | April | May | June | July | August | September | ||||||||||||
Securities & Exchange Reporting | $ | — | $ | 1,210.93 | $ | 9,195.09 | $ | 10,090.93 | $ | 1,793.34 | $ | 3,394.92 | ||||||
Other | $ | — | $ | 18.21 | $ | — | $ | — | $ | — | $ | — | ||||||
Management Fees | $ | — | $ | — | $ | 2,733.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||
| $ | — | $ | 1,229.14 | $ | 11,928.09 | $ | 11,090.93 | $ | 2,793.34 | $ | 4,394.92 | |||||||
CASE NAME:Southern Investors Service Company, Inc.
CASE NUMBER:05-35538-H4-11
CASH ACCOUNT RECONCILIATION
MONTH OF September
BANK NAME | Amegy | Amegy | ||||||||||||||||||||
ACCOUNT NUMBER | #515737756 | #51573705 | ||||||||||||||||||||
ACCOUNT TYPE | OPERATING | MONEY MARKET | OTHER FUNDS | MONEY MARKET | MONEY MARKET | MONEY MARKET | TOTAL | |||||||||||||||
BANK BALANCE | $ | 24,014.21 | $ | 1,952,207.22 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 1,976,221.43 | ||||||||
DEPOSITS IN TRANSIT | $ | 0.00 | $ | 0.00 | ||||||||||||||||||
OUTSTANDING CHECKS | $ | 518.90 | $ | 518.90 | ||||||||||||||||||
ADJUSTED BANK BALANCE | $ | 23,495.31 | $ | 1,952,207.22 | $ | 0.00 | $ | 0.00 | $ | 1,976,740.33 | ||||||||||||
BEGINNING CASH - PER BOOKS | $ | 20,048.30 | $ | 1,952,207.22 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 1,972,255.52 | ||||||||||
RECEIPTS* | $ | 541.31 | $ | 4,149.61 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 4,690.92 | ||||||||||
TRANSFERS BETWEEN ACCOUNTS | $ | 50,000.00 | ($50,000.00 | ) | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||
(WITHDRAWAL) OR INDIVIDUAL CONTRIBUTION BY DEBTOR MFR-2 | $ | 0.00 | ||||||||||||||||||||
CHECKS/OTHER DISBURSEMENTS* | $ | 47,094.30 | $ | 47,094.30 | ||||||||||||||||||
ENDING CASH - PER BOOKS | $ | 23,495.31 | $ | 1,906,356.83 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 1,929,852.14 | ||||||||
| * | Numbers should balance (match) TOTAL RECEIPTS and TOTAL DISBURSEMENTS lines on MOR-7 |
| MOR-8 | Revised 07/01/98 |
CASE NAME:Southern Investors Service Company, Inc.
CASE NUMBER:05-35538-H4-11
PAYMENTS TO INSIDERS AND PROFESSIONALS
Of the total disbursements shown for the month, list the amount paid to insiders (as defined in Section 101(31)(A)-(F) of the U.S. Bankruptcy Code) and the professionals. Also, for insiders, identify the type of compensation paid (e.g., salary, commission, bonus, etc.) (Attach additional pages as necessary).
MONTH April | MONTH May | MONTH June | MONTH July | MONTH August | MONTH September | |||||||||||||
INSIDERS: NAME/COMP TYPE | ||||||||||||||||||
1. PMW, Inc (Paula Mischer) Mowing | 100.00 | 100.00 | 200.00 | |||||||||||||||
2. Mischer Investments, L.P. Management Fee | 2,733.00 | 1,000.00 | 1,000.00 | 1,000.00 | ||||||||||||||
3. | ||||||||||||||||||
4. | ||||||||||||||||||
5. | ||||||||||||||||||
6. | ||||||||||||||||||
TOTAL INSIDERS (MOR-1) | $ | 0.00 | $ | 100.00 | $ | 2,733.00 | $ | 1,000.00 | $ | 1,100.00 | $ | 1,200.00 | ||||||
MONTH April | MONTH May | MONTH June | MONTH July | MONTH August | MONTH September | |||||||||||||
PROFESSIONALS | ||||||||||||||||||
1. Weinstein Spira & Company* | 3,000.00 | |||||||||||||||||
2. Mayor Brown Rowe & Maw* | 337.50 | 4,970.78 | 645.00 | |||||||||||||||
3. Joel Bryant* | 406.17 | 337.50 | ||||||||||||||||
4. Sharon Erskine CPA* | 600.00 | |||||||||||||||||
5. Andrewa & Kurth | 41,430.98 | |||||||||||||||||
6. | ||||||||||||||||||
TOTAL PROFESSIONALS (MOR-1) | $ | 0.00 | $ | 0.00 | $ | 4,343.67 | $ | 0.00 | $ | 5,308.28 | $ | 42,075.98 | ||||||
| * | Note that payments to these Ordinary Couse Professionals in June was inadvertantly left out of the June MOR. |
| MOR-9 | Revised 07/01/98 |
