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| : | Chapter 11 | |||
In re: PUBLICARD, INC., | : | Case No. 07-11517 (RDD) | ||
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| Debtor | : | |||
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| MONTHLY RECEIPTS: | $ | 86,932 | ||
| MONTHLY DISBURSEMENTS: | $ | 25,448 |
| DATE: 18-Jul-07 | By: | /s/ Stephen Spitzer |
| Title: | Principal Financial Officer |
Current Month June 30, 2007 | Year-To-Date June 30, 2007 | Case-To-Date May 17, 2007 June 30, 2007 | ||||||||
| Revenue | $ | - | $ | - | $ | - | ||||
| Operating Expenses | ||||||||||
| Direct Cost Of Revenue | $ | - | $ | - | $ | - | ||||
| Selling, General and Administrative | $ | 30,994.09 | $ | 47,846.26 | $ | 47,846.26 | ||||
| Depreciation Of Fixed Assets | $ | 95.65 | $ | 191.30 | $ | 191.30 | ||||
| Total Operating Expenses | $ | 31,089.74 | $ | 48,037.56 | $ | 48,037.56 | ||||
| Operating Gain/(Loss) | $ | (31,089.74 | ) | $ | (48,037.56 | ) | $ | (48,037.56 | ) | |
| Other Expense/(Income) | ||||||||||
| Interest Expense | $ | - | $ | - | $ | - | ||||
| Loss/(Gain) On The Sale Of Assets | $ | - | $ | - | $ | - | ||||
| Claim Settlement | $ | - | $ | - | $ | - | ||||
| Insurance Settlements | $ | - | $ | - | $ | - | ||||
| Interest Income | $ | (142.13 | ) | $ | (180.72 | ) | $ | (180.72 | ) | |
| Gain/(Loss) Before Reorganizational Items and Taxes | $ | (30,947.61 | ) | $ | (47,856.84 | ) | $ | (47,856.84 | ) | |
| Reorganization Professional Fees (Estimated and Accrued) (1) | $ | 4,500.00 | $ | 8,000.00 | $ | 8,000.00 | ||||
| Gain/(Loss) Before Income Taxes | $ | (35,447.61 | ) | $ | (55,856.84 | ) | $ | (55,856.84 | ) | |
| Provision For Income Taxes | $ | - | $ | - | $ | - | ||||
| Net Gain/(Loss) | $ | (35,447.61 | ) | $ | (55,856.84 | ) | $ | (55,856.84 | ) | |
| Deficit Beginning of Period | $ | - | $ | - | $ | - | ||||
| Deficit End Of Period | $ | (35,447.61 | ) | $ | (55,856.84 | ) | $ | (55,856.84 | ) | |
2007 Balance Sheet | ||||
| Current Assets | ||||
| Cash | $ | 99,674 | ||
| Restricted Cash | $ | - | ||
| Due From Related Parties | $ | - | ||
| Accounts Receivable-Net | $ | (268 | ) | |
| Inventory Net | $ | - | ||
| Prepaid Rent | $ | - | ||
| Prepaid Insurance | $ | 32,520 | ||
| Prepaid Expenses | $ | 19,200 | ||
| Total Current Assets | $ | 151,126 | ||
| Property, Plant, & Equipment - Gross | $ | 14,404 | ||
| Accumulated Depreciation | $ | (10,279 | ) | |
| Property, Plant, & Equipment - Net | $ | 4,125 | ||
| Intangibles - Gross | $ | - | ||
| Accumulated Amortization | $ | - | ||
| Intangibles - Net | $ | - | ||
| Organizational Costs | $ | - | ||
| Other - Non-Current | $ | - | ||
| Total Assets | $ | 155,251 | ||
| Post-Petition Liabilities | ||||
| Cash Overdrafts | $ | - | ||
| Accounts Payable | $ | 8,300 | ||
| Deferred Subscription Revenues | $ | - | ||
| Accrued Payroll/Commission | $ | 3,018 | ||
| Due To Affiliates | $ | 71,915 | ||
| Other Current Liabilities/Accrued Professional Fees (Estimated) | $ | 8,000 | ||
| Total Post Petition Current Liabilities | $ | 91,233 | ||
| Pre-Petition Liabilities | ||||
| Cash Overdrafts | $ | - | ||
| Accounts Payable | $ | 269,491 | ||
| Deferred Revenues | $ | - | ||
| Accrued Payroll/Commission | $ | - | ||
| Obligations For Capital Leases Current | $ | - | ||
| Other Current Liabilities | $ | 19,800 | ||
| Total Pre- Petition Current Liabilities | $ | 289,291 | ||
| Interest Payable | $ | - | ||
| Other Long Term Liabilities | $ | - | ||
| $ | - | |||
| Total Liabilities | $ | 380,524 | ||
| Stockholders Deficit | ||||
Class A Preferred Stock Second Series, no par value:1,000 shares authorized 465 shares issued and outstanding | $ | 2,325,000 | ||
Common shares, $0.10 par value: 40,000,000 shares authorized; 24,940,902 shares outstanding | $ | 2,494,090 | ||
| Additional paid-in capital | $ | 108,624,824 | ||
| Accumulated deficit | $ | (113,669,188 | ) | |
| Total Stockholders Equity/(Deficit) | $ | (225,274 | ) | |
| Total Liabilities and Stockholder Equity | $ | 155,250 | ||
| $ | 0 | |||
Current Month June 30, 2007 | Year-To-Date June 30, 2007 | Case-To-Date May 17, 2007 June 30, 2007 | ||||||||
| Net Gain/(Loss) | $ | (35,448 | ) | $ | (55,857 | ) | $ | (55,857 | ) | |
| (Less)/Add: Depreciation (1) | $ | 96 | $ | 192 | $ | 192 | ||||
| (Less)/Add: Amortization | $ | - | $ | - | $ | - | ||||
| EBITDA | $ | (35,352 | ) | $ | (55,665 | ) | $ | (55,665 | ) | |
| Working Capital Changes (Increase)/Decrease In Net Assets | ||||||||||
| Net Accounts Receivable | $ | 13,632 | $ | 13,632 | $ | 13,632 | ||||
| Net Inventory | $ | - | $ | - | $ | - | ||||
| Prepaid & Other Expenses | $ | 2,786 | $ | 10,752 | $ | 10,752 | ||||
| Increase/(Decrease) In Liabilities | ||||||||||
| Bank Overdrafts | $ | - | $ | - | $ | - | ||||
| Accounts Payable | $ | 3,316 | $ | 8,300 | $ | 8,300 | ||||
| Deferred Revenues | $ | - | $ | - | $ | - | ||||
| Accrue Payroll/Commission | $ | 686 | $ | 3,017 | $ | 3,017 | ||||
| Other Current Liabilities | $ | 76,416 | $ | 79,916 | $ | 79,916 | ||||
| Other Non-Current Liabilities | $ | - | $ | - | $ | - | ||||
| Total Increase/(Decrease) In Working Capital | $ | 96,836 | $ | 115,617 | $ | 115,617 | ||||
| Operating Cash Flow | $ | 61,484 | $ | 59,952 | $ | 59,952 | ||||
| Less :Capital Expenditures | $ | - | $ | - | $ | - | ||||
| Less :Additions To Intangibles | $ | - | $ | - | $ | - | ||||
| (Less)/Add: Change in Interest Payable | $ | - | $ | - | $ | - | ||||
| Net Free Cash Flow | $ | 61,484 | $ | 59,952 | $ | 59,952 | ||||
| Change To Debt Payable | $ | - | $ | - | $ | - | ||||
| Proceeds From The Sale Of Securities | $ | - | $ | - | $ | - | ||||
| Net Cash Flow | $ | 61,484 | $ | 59,952 | $ | 59,952 | ||||
| Cash Balance At End Of Period | $ | 99,674 | $ | 99,674 | $ | 99,674 | ||||
| Less Cash Balance At Beginning Of Period | $ | (38,190 | ) | $ | (39,723 | ) | $ | (39,723 | ) | |
| Net Increase/(Decrease) In Cash | $ | 61,484 | $ | 59,952 | $ | 59,952 | ||||
