EX.99.108
OFFICE OF THE UNITED STATES TRUSTEE
IN RE: | DEBTOR IN POSSESSION OPERATING REPORT | ||||||||
SN INSURANCE SERVICES | REPORT NUMBER 16 | Page 1 of 3 | |||||||
FOR THE PERIOD FROM: 01-Jul-01 | |||||||||
DEBTOR | TO: 31-Jul-01 | ||||||||
CHAPTER 11 CASE NO. SV00-14100-GM | |||||||||
1. Profit and Loss Statement | Please see Attached Schedule A | ||||||||
A. Related to Business Operations: | |||||||||
Gross Sales | |||||||||
Less Sales Returns and Discounts | |||||||||
Net Sales | |||||||||
Less: Cost of Goods Sold | |||||||||
Beginning Inventory at Cost | |||||||||
Add: Purchases | |||||||||
Less: Ending Inventory at Cost | |||||||||
Cost of Goods Sold | |||||||||
Gross Profit | |||||||||
Other Operating Revenue (Specify) | |||||||||
Less: Operating Expenses | |||||||||
Officer Compensation | |||||||||
Salaries & Wages - Other Employees | |||||||||
Total Salaries & Wages | |||||||||
Employee Benefits | |||||||||
Payroll Taxes | |||||||||
Real Estate Taxes | |||||||||
Federal and State Income Taxes | |||||||||
Total Taxes | |||||||||
Rent and Lease Exp. (Real and Personal Property) | |||||||||
Interest Expense (Mortgage, Loan, etc.) | |||||||||
Insurance | |||||||||
Automobile Expense | |||||||||
Utilities (Gas, Electric, Water, Telephone, etc.) | |||||||||
Depreciation and Amortization | |||||||||
Repairs and Maintenance | |||||||||
Advertising | |||||||||
Supplies, Office Expenses, Photocopies, etc. | |||||||||
Bad Debts | |||||||||
Miscellaneous Operating Expenses (Specify) | |||||||||
Total Operating Expenses | |||||||||
Net Gain/(Loss) from Business Operations | |||||||||
B. Not Related to Business Operations | |||||||||
Income: | |||||||||
Interest Income | |||||||||
Other Non-Operating Revenues (Specify) | |||||||||
Gross Proceeds on Sale of Assets | |||||||||
Less: Original Cost of Assets plus Expenses of Sale | |||||||||
Net Gain/(Loss) on Sale of Assets | |||||||||
Total Non-Operating Income | |||||||||
Expenses Not Related to Business Operations: | |||||||||
Legal and Professional Fees | |||||||||
Other Non-Operating Revenues (Specify) | |||||||||
Total Non-Operating Expenses | |||||||||
NET INCOME /(LOSS) FOR PERIOD | |||||||||
Revised April 1989 | OPERATING REPORT | UST-4 |
DEBTOR IN POSSESSION OPERATING REPORT NO. 16
Page 2 of 3
2. Aging of Accounts Payable and Receivable (exclude pre-petition debt from accounts payable):
| | Accounts Payable | Accounts Receivable | |||||
---|---|---|---|---|---|---|---|---|
Current | Under 30 days | $ | 0 | $ | 0 | |||
Overdue | 31 - 60 days | $ | 0 | $ | 0 | |||
Overdue | 61 - 90 days | PLEASE SEE ATTACHED SCHEDULE B | ||||||
Overdue | 91 - 120 days | $ | 0 | $ | 0 | |||
Overdue | 121 + days | $ | 0 | $ | 0 | |||
Total | $ | 0 | $ | 0 |
3. Statement of Status of Payments to Secured Creditors and Lessors:
| | | | Post-Petition Payments Not Made | ||||||
---|---|---|---|---|---|---|---|---|---|---|
| Frequency of Payments per Lease/Contract | Amount of Each Payment | Next Payment Due | |||||||
Creditor/Lessor | Number | Amount | ||||||||
NONE |
4. Tax Liability:
Gross Payroll Expense For Period | $ | 140,146 | |
Gross Sales for Period Subject to Sales Tax | $ | 0 |
| Date Paid | Amount Paid* | Post Petition Taxes Still Owing | ||||
---|---|---|---|---|---|---|---|
Federal Payroll and Withholding Taxes | 7/15/01 & 7/31/01 | $ | 39,629 | 0 | |||
State Payroll and Withholding Taxes | 7/15/01 & 7/31/01 | $ | 4,407 | 0 | |||
State Sales and Use Tax | N/A | $ | 0 | N/A | |||
Real Property Taxes | N/A | $ | 0 | N/A |
- •
- Attach photocopies of depository receipts from taxing authority or financial institution to verify that such deposits or payments have been made.
ALL PAYROLL TAXES PAID BY ADP
5. Insurance Coverage
| Carrier/ Agent | Amount of Coverage | Policy Exp. Date | Premium Paid Thru Date | ||||
---|---|---|---|---|---|---|---|---|
Worker's Compensation | See Schedule D | |||||||
Liability | See Schedule E | |||||||
Fire and Extended Coverage | See Schedule E | |||||||
Property | See Schedule E | |||||||
Theft | See Schedule E | |||||||
Life (Beneficiary: ) | See Schedule E | |||||||
Vehicle | See Schedule E | |||||||
Other | See Schedule E |
DEBTOR IN POSSESSION OPERATING REPORT NO. 16
Page 3 of 3
6. Questions:
- A.
- Has the Debtor provided to any officers, directors, shareholders, or other principals compensation without the approval of the Office of the United States Trustee?
/ /: Yes Explain: ____________________________________
/x/ : No
- B.
- Has the Debtor, subsequent to the filing of the petition made any payments on its pre-petition unsecured debt, except as have been authorized by the Court?
/ / : Yes Explain: ____________________________________
/x/ : No
7. Statement of Unpaid Professional Fees (Post-Petition Only):
Name of Professional | Type Professional | Post-Petition Unpaid Total | ||
---|---|---|---|---|
See Schedule F |
8. Narrative Report of Significant Events And Events Out Of The Ordinary Course Of Business:
9. Quarterly Fees: (This Fee must be paid to the United States Trustee every calendar quarter)
Quarterly Period Ending | Quarterly Disbursements for Quarter | Quarterly Fee | Date Paid | Amount Paid | Check No. | Quarterly Fee Still Owing | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
6/30/2001 | $ | 4,693,477.00 | $ | 8,000.00 | 07/26/2001 | $ | 8,000.00 | 1475 | $ | 0.00 |
I, Alex Corbett — Chief Financial Officer, declare under penalty of perjury that the information contained in the above Debtor in Possession Operating Report is true and complete to the best of my knowledge.
Dated: 9/11/2001 | Signed: | /s/ ALEX CORBETT | ||