Exhibit 99.1
UNITED STATES DEPARTMENT OF JUSTICE
OFFICE OF THE UNITED STATES TRUSTEE
CENTRAL DISTRICT OF CALIFORNIA
OFFICE OF THE UNITED STATES TRUSTEE
CENTRAL DISTRICT OF CALIFORNIA
In Re: | CHAPTER 11 (BUSINESS) | |||
The Kushner-Locke Company | ||||
Case Number: | Case No. LA 01-44828-SB | |||
Operating Report Number: | ||||
Debtor(s). | For the Month Ending: |
I. CASH RECEIPTS AND DISBURSEMENTS
A. (GENERAL ACCOUNT*)
A. (GENERAL ACCOUNT*)
1. | TOTAL RECEIPTS PER ALL PRIOR GENERAL ACCOUNT REPORTS | 11,123,438.72 | ||||||||||||||
2. | LESS: TOTAL DISBURSEMENTS PER ALL PRIOR GENERAL ACCOUNT REPORTS | 10,829,290.78 | ||||||||||||||
3. | BEGINNING BALANCE: | 294,147.94 | ||||||||||||||
4. | RECEIPTS DURING CURRENT PERIOD: | |||||||||||||||
Accounts Receivable — Post-filing | ||||||||||||||||
Accounts Receivable — Pre-filing | ||||||||||||||||
General Sales | ||||||||||||||||
Other (Specify) | Internal Transfers | 75,000.00 | ||||||||||||||
**Other (Specify) | ||||||||||||||||
TOTAL RECEIPTS THIS PERIOD: | 75,000.00 | |||||||||||||||
5. | BALANCE: | 369,147.94 | ||||||||||||||
6. | LESS: TOTAL DISBURSEMENTS DURING CURRENT PERIOD | |||||||||||||||
Transfers to Other DIP Accounts (from page 2) | 0.00 | |||||||||||||||
Disbursements (from page 2) | 55,980.62 | |||||||||||||||
TOTAL DISBURSEMENTS THIS PERIOD:*** | 55,980.62 | |||||||||||||||
�� | ||||||||||||||||
7. | ENDING BALANCE: | 313,167.32 | ||||||||||||||
8. | General Account Number(s): | 1891935460 | ||||||||||||||
Comerica Bank | ||||||||||||||||
Depository Name & Location: | Los Angeles, CA | |||||||||||||||
* | All receipts must be deposited into the general account. | |
** | Include receipts from the sale of any real or personal property out of the ordinary course of business; attach an exhibit specifying what was sold, to whom, terms, and date of Court Order or Report of Sale. | |
*** | This amount should be the same as the total from page 2. |
Page 1 of 16
TOTAL DISBURSEMENTS FROM GENERAL ACCOUNT FOR CURRENT PERIOD
Date | Check | *Amount | **Amount | |||||||||||||||||
mm/dd/yyyy | Number | Payee or DIP account | Purpose | Transfered | Disbursed | Amount | ||||||||||||||
07/10/2009 | Wire | ADP | Payroll Fees | $ | 86.30 | $ | 86.30 | |||||||||||||
07/10/2009 | 1471 | Bonded Services | Storage | $ | 4,000.00 | $ | 4,000.00 | |||||||||||||
07/10/2009 | 1472 | Brandon & Morner-Ritt | Legal Fees | $ | 1,288.60 | $ | 1,288.60 | |||||||||||||
07/10/2009 | 1473 | Xerox | Office Supplies | $ | 22.49 | $ | 22.49 | |||||||||||||
07/13/2009 | Wire | Comerica Bank | Bank Fees | $ | 215.30 | $ | 215.30 | |||||||||||||
07/14/2009 | Wire | Payroll Tax | Payroll | $ | 5,595.29 | $ | 5,595.29 | |||||||||||||
07/14/2009 | 8601 | Payroll | Payroll | $ | 1,379.03 | $ | 1,379.03 | |||||||||||||
07/14/2009 | 8602 | Payroll | Payroll | $ | 7,882.51 | $ | 7,882.51 | |||||||||||||
07/14/2009 | 8603 | Payroll | Payroll | $ | 2,788.12 | $ | 2,788.12 | |||||||||||||
07/17/2009 | 1475 | Arrowhead | Office Supplies | $ | 15.98 | $ | 15.98 | |||||||||||||
07/17/2009 | 1476 | Federal Express | Shipping | $ | 25.91 | $ | 25.91 | |||||||||||||
07/17/2009 | 1477 | Recall | Storage | $ | 918.84 | $ | 918.84 | |||||||||||||
07/24/2009 | Wire | ADP | Payroll Fees | $ | 283.25 | $ | 283.25 | |||||||||||||
07/28/2009 | 8604 | Payroll | Payroll | $ | 1,379.03 | $ | 1,379.03 | |||||||||||||
07/28/2009 | 8605 | Payroll | Payroll | $ | 8,134.52 | $ | 8,134.52 | |||||||||||||
07/28/2009 | 8606 | Payroll | Payroll | $ | 2,788.11 | $ | 2,788.11 | |||||||||||||
07/29/2009 | Wire | Payroll Tax | Payroll | $ | 5,799.82 | $ | 5,799.82 | |||||||||||||
07/30/2009 | 1478 | AT & T | Internet | $ | 86.19 | $ | 86.19 | |||||||||||||
07/30/2009 | 1479 | Global Media Television | Agent Fees | $ | 11,750.00 | $ | 11,750.00 | |||||||||||||
07/30/2009 | 1480 | ITE Solutions | Computer / IT | $ | 690.00 | $ | 690.00 | |||||||||||||
07/30/2009 | 1481 | Keren Aminia Expenses | Office Supplies | $ | 387.80 | $ | 387.80 | |||||||||||||
07/30/2009 | 1482 | Kevin Marino Expenses | Phone / Internet | $ | 119.44 | $ | 119.44 | |||||||||||||
07/30/2009 | 1483 | AT & T | Phone | $ | 306.82 | $ | 306.82 | |||||||||||||
07/31/2009 | Wire | ADP | Payroll Fees | $ | 37.27 | $ | 37.27 | |||||||||||||
TOTAL DISBURSEMENTS THIS PERIOD: | 0.00 | 55,980.62 | $ | 55,980.62 | ||||||||||||||||
* | Fill in amounts in this column if they are TRANSFERS to another DIP account (e.g. Payroll or Tax); the “amount” column will be filled in for you. | |
** | Fill in amounts in this column if they are DISBURSEMENTS to outside payees; the “amount” column will be filled in for you. |
Page 2 of 16
GENERAL ACCOUNT
BANK RECONCILIATION
BANK RECONCILIATION
Bank statement Date: | 7/31/2009 | Balance on Statement: | $ | 334,522.65 | ||||
Plus deposits in transit (a):
Deposit Date | Deposit Amount | |||||||||||
TOTAL DEPOSITS IN TRANSIT | 0.00 | |||||||||||
Less Outstanding Checks (a):
Check Number | Check Date | Check Amount | ||||||||||||||
1478 | 7/30/2009 | $ | 86.19 | |||||||||||||
1479 | 7/30/2009 | $ | 11,750.00 | |||||||||||||
1480 | 7/30/2009 | $ | 690.00 | |||||||||||||
1481 | 7/30/2009 | $ | 387.80 | |||||||||||||
1483 | 7/30/2009 | $ | 306.82 | |||||||||||||
8605 | 7/28/2009 | $ | 8,134.52 | |||||||||||||
TOTAL OUTSTANDING CHECKS: | 21,355.33 | |||||||||||||||
Bank statement Adjustments: | ||||||||||||||||
Explanation of Adjustments- | ||||||||||||||||
ADJUSTED BANK BALANCE: | $ | 313,167.32 | ||||||||||||||
* | It is acceptable to replace this form with a similar form | ||
** | Please attach a detailed explanation of any bank statement adjustment | - ck |
Page 3 of 16
UNITED STATES DEPARTMENT OF JUSTICE
OFFICE OF THE UNITED STATES TRUSTEE
CENTRAL DISTRICT OF CALIFORNIA
OFFICE OF THE UNITED STATES TRUSTEE
CENTRAL DISTRICT OF CALIFORNIA
In Re: | CHAPTER 11 (BUSINESS) | |||||||||
The Kushner-Locke Company | ||||||||||
Case Number: | Case No. LA 01-44828-SB | |||||||||
Operating Report Number: | 93 | |||||||||
Debtor(s). | For the Month Ending: | 7/31/2009 | ||||||||
I. CASH RECEIPTS AND DISBURSEMENTS
A. (COLLATERAL ACCOUNT*)
A. (COLLATERAL ACCOUNT*)
1. | TOTAL RECEIPTS PER ALL PRIOR GENERAL ACCOUNT REPORTS | 11,984,253.77 | ||||||||||||||
2. | LESS: TOTAL DISBURSEMENTS PER ALL PRIOR GENERAL ACCOUNT REPORTS | 11,321,377.86 | ||||||||||||||
3. | BEGINNING BALANCE: | 662,875.91 | ||||||||||||||
4. | RECEIPTS DURING CURRENT PERIOD: | |||||||||||||||
Accounts Receivable — Post-filing | 58,750.00 | |||||||||||||||
Accounts Receivable — Pre-filing | ||||||||||||||||
General Sales | ||||||||||||||||
Other (Specify) | Interest | 46.47 | ||||||||||||||
**Other (Specify) | ||||||||||||||||
TOTAL RECEIPTS THIS PERIOD: | 58,796.47 | |||||||||||||||
5. | BALANCE: | 721,672.38 | ||||||||||||||
6. | LESS: TOTAL DISBURSEMENTS DURING CURRENT PERIOD | |||||||||||||||
Transfers to Other DIP Accounts (from page 2) | 75,000.00 | |||||||||||||||
Disbursements (from page 2) | 4,216.76 | |||||||||||||||
TOTAL DISBURSEMENTS THIS PERIOD:*** | 79,216.76 | |||||||||||||||
7. | ENDING BALANCE: | 642,455.62 | ||||||||||||||
8. | General Account Number(s): | 323-221-556 | ||||||||||||||
JP Morgan Chase | ||||||||||||||||
Depository Name & Location: | New York, NY | |||||||||||||||
* | All receipts must be deposited into the general account. | |
** | Include receipts from the sale of any real or personal property out of the ordinary course of business; attach an exhibit specifying what was sold, to whom, terms, and date of Court Order or Report of Sale. | |
*** | This amount should be the same as the total from page 2. |
Page 4 of 16
TOTAL DISBURSEMENTS FROM COLLATERAL ACCOUNT FOR CURRENT PERIOD
Date | Check | Payee or DIP | *Amount | **Amount | ||||||||||||||
mm/dd/yyyy | Number | account | Purpose | Transfered | Disbursed | Amount | ||||||||||||
7/2/2009 | Wire | Kushner-Locke | Internal Transfer | 25,000.00 | 25,000.00 | |||||||||||||
7/13/2009 | Wire | Morgan Lewis | Legal Fees | 4,216.76 | 4,216.76 | |||||||||||||
7/16/2009 | Wire | Kushner-Locke | Internal Transfer | 25,000.00 | 25,000.00 | |||||||||||||
07/31/2009 | Wire | Kushner-Locke | Internal Transfer | 25,000.00 | 25,000.00 | |||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
TOTAL DISBURSEMENTS THIS PERIOD: | 79,216.76 | 0.00 | $ | 79,216.76 | ||||||||||||||
* | Fill in amounts in this column if they are TRANSFERS to another DIP account (e.g. Payroll or Tax); the “amount” column will be filled in for you. | |
** | Fill in amounts in this column if they are DISBURSEMENTS to outside payees; the “amount” column will be filled in for you. |
Page 5 of 16
COLLATERAL ACCOUNT
BANK RECONCILIATION
BANK RECONCILIATION
Bank statement Date: | 7/31/2009 | Balance on Statement: | $ | 642,455.62 | ||||
Plus deposits in transit (a):
Deposit Date | Deposit Amount | |||||||||||
TOTAL DEPOSITS IN TRANSIT | 0.00 | |||||||||||
Less Outstanding Checks (a):
Check Number | Check Date | Check Amount | ||||||||||||||
TOTAL OUTSTANDING CHECKS: | 0.00 | |||||||||||||||
Bank statement Adjustments: | ||||||||||||||||
Explanation of Adjustments- | ||||||||||||||||
ADJUSTED BANK BALANCE: | $ | 642,455.62 | ||||||||||||||
* | It is acceptable to replace this form with a similar form | |
** | Please attach a detailed explanation of any bank statement adjustment |
Page 6 of 16
UNITED STATES DEPARTMENT OF JUSTICE
OFFICE OF THE UNITED STATES TRUSTEE
CENTRAL DISTRICT OF CALIFORNIA
OFFICE OF THE UNITED STATES TRUSTEE
CENTRAL DISTRICT OF CALIFORNIA
In Re: | CHAPTER 11 (BUSINESS) | |||||
The Kushner-Locke Company | ||||||
Case Number: | Case No. LA 01-44828-SB | |||||
Operating Report Number: | 93 | |||||
Debtor(s). | For the Month Ending: | 7/31/2009 |
I. CASH RECEIPTS AND DISBURSEMENTS
A. (COLLECTION ACCOUNT*)
A. (COLLECTION ACCOUNT*)
1. TOTAL RECEIPTS PER ALL PRIOR GENERAL ACCOUNT REPORTS | 1,302,570.28 | |||||||
2. LESS: TOTAL DISBURSEMENTS PER ALL PRIOR GENERAL ACCOUNT REPORTS | 51,437.80 | |||||||
3. BEGINNING BALANCE: | 1,251,132.48 | |||||||
4. RECEIPTS DURING CURRENT PERIOD: | ||||||||
Accounts Receivable — Post-filing | 0.00 | |||||||
Accounts Receivable — Pre-filing | ||||||||
General Sales | ||||||||
Other (Specify) | 0.00 | |||||||
**Other (Specify) | ||||||||
TOTAL RECEIPTS THIS PERIOD: | 0.00 | |||||||
5. BALANCE: | 1,251,132.48 | |||||||
6. LESS: TOTAL DISBURSEMENTS DURING CURRENT PERIOD | ||||||||
Transfers to Other DIP Accounts (from page 2) | 0.00 | |||||||
Disbursements (from page 2) | 50.00 | |||||||
TOTAL DISBURSEMENTS THIS PERIOD:*** | 50.00 | |||||||
7. ENDING BALANCE: | 1,251,082.48 | |||||||
8. General Account Number(s): | 112391673 | |||||||
City National Bank | ||||||||
Depository Name & Location: | Beverly Hills, CA |
* | All receipts must be deposited into the general account. | |
** | Include receipts from the sale of any real or personal property out of the ordinary course of business; attach an exhibit specifying what was sold, to whom, terms, and date of Court Order or Report of Sale. | |
*** | This amount should be the same as the total from page 2. |
Page 7 of 16
TOTAL DISBURSEMENTS FROM COLLECTION ACCOUNT FOR CURRENT PERIOD
Date | Check | *Amount | **Amount | |||||||||||||||
mm/dd/yyyy | Number | Payee or DIP account | Purpose | Transfered | Disbursed | Amount | ||||||||||||
07/31/2009 | Fee | City National Bank | Bank Fee | $ | 50.00 | 50.00 | ||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
TOTAL DISBURSEMENTS THIS PERIOD: | 0.00 | 50.00 | $ | 50.00 | ||||||||||||||
* | Fill in amounts in this column if they are TRANSFERS to another DIP account (e.g. Payroll or Tax); the “amount” column will be filled in for you. | |
** | Fill in amounts in this column if they are DISBURSEMENTS to outside payees; the “amount” column will be filled in for you. |
Page 8 of 16
COLLECTION ACCOUNT
BANK RECONCILIATION
BANK RECONCILIATION
Bank statement Date: | 7/31/2009 | Balance on Statement: | $ | 1,251,082.48 | ||||||
Plus deposits in transit (a):
Deposit Date | Deposit Amount | |||||||||||
TOTAL DEPOSITS IN TRANSIT | 0.00 | |||||||||||
Less Outstanding Checks (a):
Check Number | Check Date | Check Amount | ||||||||||||||
�� | ||||||||||||||||
TOTAL OUTSTANDING CHECKS: | 0.00 | |||||||||||||||
Bank statement Adjustments: | ||||||||||||||||
Explanation of Adjustments- |
ADJUSTED BANK BALANCE: | $ | 1,251,082.48 | ||||||||
* | It is acceptable to replace this form with a similar form | |
** | Please attach a detailed explanation of any bank statement adjustment |
Page 9 of 16
I. D SUMMARY SCHEDULE OF CASH
ENDING BALANCES FOR THE PERIOD: 07/01/09-07/31/09
(Provide a copy of monthly account statements for each of the below)
General Account: | 313,167.32 | |||||||||||||||
Collateral Account: | 642,455.62 | |||||||||||||||
Collection Account: | 1,251,082.48 | |||||||||||||||
*Other Accounts: | ||||||||||||||||
Bank of Scotland - Pinocchio | Time Deposit | 219,088.59 | Currency: GBP | |||||||||||||
Bank of Scotland - Basil | Time Deposit | 247,294.30 | Currency: GBP | |||||||||||||
Edge Entertainment | 172.89 | |||||||||||||||
KL- PWI account | 731.10 | |||||||||||||||
BLT Venture | JV Account | 71,485.48 | ||||||||||||||
BLT Venture | JV Account | 330.45 | ||||||||||||||
KL\7 Venture | JV Account | 39,992.84 | ||||||||||||||
Denial Venture | JV Account | 244,864.53 | ||||||||||||||
Cracker LLC | JV Account | 15,569.01 | ||||||||||||||
Swing | JV Account | 13,031.13 | ||||||||||||||
*Other Monies: | ||||||||||||||||
**Petty Cash (from below): | 0.00 | |||||||||||||||
TOTAL CASH AVAILABLE: | 3,059,265.74 | |||||||||||||||
Petty Cash Transactions:
Date | Purpose | Amount | ||||||||||
TOTAL PETTY CASH TRANSACTIONS: | 0.00 | |||||||||||
* | Specify the Type of holding (e.g. CD, Savings Account, Investment Security), and the depository name, location & account# | |
** | Attach Exhibit Itemizing all petty cash transactions |
Page 10 of 16
II. STATUS OF PAYMENTS TO SECURED CREDITORS, LESSORS
AND OTHER PARTIES TO EXECUTORY CONTRACTS
AND OTHER PARTIES TO EXECUTORY CONTRACTS
Post-Petition | ||||||||||||||||
Frequency of Payments | payments not made | |||||||||||||||
Creditor, Lessor, Etc. | (Mo/Qtr) | Amount of Payment | (Number) | Total Due | ||||||||||||
TOTAL DUE: | 0.00 | |||||||||||||||
III. TAX LIABILITIES
FOR THE REPORTING PERIOD:
Gross Sales Subject to Sales Tax: | ||||
Total Wages Paid: | ||||
Total Post-Petition | Date Delinquent | |||||||||||||||
Amounts Owing | Amount Delinquent | Amount Due | ||||||||||||||
Federal Withholding | ||||||||||||||||
State Withholding | ||||||||||||||||
FICA - Employer’s Share | ||||||||||||||||
FICA - Employee’s Share | ||||||||||||||||
Federal Unemployment | ||||||||||||||||
Sales and Use | ||||||||||||||||
Real Property | ||||||||||||||||
Other: | ||||||||||||||||
TOTAL: | 0.00 | 0.00 | ||||||||||||||
Page 11 of 16
IV. AGING OF ACCOUNTS PAYABLE AND RECEIVABLE
*Accounts Payable | Accounts Receivable | |||||||||||
Post-Petition | Pre-Petition | Post-Petition | ||||||||||
30 days or less | 29,350.33 | 583,661.12 | ||||||||||
31 - 60 days | ||||||||||||
61 - 90 days | ||||||||||||
91 - 120 days | ||||||||||||
Over 120 days | ||||||||||||
TOTAL: | 29,350.33 | 0.00 | 583,661.12 | |||||||||
V. INSURANCE COVERAGE
Policy Expiration | Premium Paid | |||||||||||||
Name of Carrier | Amount of Coverage | Date | Through (Date) | |||||||||||
Commercial Package | St. Paul Travelers | 2,000,000.00 | 2/14/2010 | 2/14/2010 | ||||||||||
Worker’s Compensation | St. Paul Travelers | 1,000,000.00 | 1/14/2010 | 1/14/2010 | ||||||||||
E & O | St. Paul Travelers | 3,000,000.00 | 3/3/2010 | 3/3/2010 | ||||||||||
Others: |
VI. UNITED STATES TRUSTEE QUARTERLY FEES
(TOTAL PAYMENTS)
(TOTAL PAYMENTS)
Quarterly Period | Total | Quarterly Fees | ||||||||||||||||
Ending (Date) | Disbursements | Quarterly Fees | Date Paid | Amount Paid | Still Owing | |||||||||||||
11/01-12/08 | 10,014,342.17 | 78,650.00 | 83,975.00 | (5,325.00 | ) | |||||||||||||
31-Mar-2009 | 295,493.00 | 1,950.00 | apply credit | 1,950.00 | ||||||||||||||
30-Jun-2009 | 215,093.50 | 1,625.00 | apply credit | 1,625.00 | ||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
0.00 | ||||||||||||||||||
82,225.00 | 83,975.00 | (1,750.00 | ) | |||||||||||||||
* | Post-Petition Accounts Payable SHOULD NOT include professionals’ fees and expenses which have been incurred but not yet awarded by the court. Post-Petition Accounts Payable SHOULD include professionals’ fees and expenses authorized by Court Order but which remain unpaid as of the close of the period report |
Page 12 of 16
VII SCHEDULE OF COMPENSATION PAID TO INSIDERS
Date of Order | �� | Gross Compensation | ||||
Authorizing | Paid During the | |||||
Name of Insider | Compensation | *Authorized Gross Compensation | Month | |||
VIII. SCHEDULE OF OTHER AMOUNTS PAID TO INSIDERS
Date of Order | ||||||
Authorizing | Amount Paid During | |||||
Name of Insider | Compensation | Description | the Month | |||
* | Please indicate how compensation was identified in the order (e.g. $1,000/week, $2,500/month) |
Page 13 of 16
IX. PROFIT AND LOSS STATEMENT
(ACCRUAL BASIS ONLY)
(ACCRUAL BASIS ONLY)
Jul 09 | ||||
Ordinary Income/Expense | ||||
Income | ||||
KL International Sales | 4,500.00 | |||
Total Income | 4,500.00 | |||
Cost of Goods Sold | ||||
Global Media Sales Fee | 11,750.00 | |||
Total COGS | 11,750.00 | |||
Gross Profit | -7,250.00 | |||
Expense | ||||
Bank Service Charges | ||||
City National — Service Charge | 50.00 | |||
Comerica — Service Charge | 215.30 | |||
Total Bank Service Charges | 265.30 | |||
Copy Machine | 22.49 | |||
Delivery & Distribution Expense | ||||
Shipping | 25.91 | |||
Total Delivery & Distribution Expense | 25.91 | |||
Insurance | ||||
Dental | 319.00 | |||
Health | 2,484.00 | |||
Total Insurance | 2,803.00 | |||
Internet | 86.19 | |||
IT / Computers | 690.00 | |||
Office Supplies | 187.69 | |||
Parking | 330.00 | |||
Payroll | ||||
Payroll cost — Employees | 12,007.13 | |||
Payroll Fee | 406.82 | |||
Responsible Officer | 23,739.30 | |||
Total Payroll | 36,153.25 | |||
Professional Fees | ||||
Legal Fees | 3,233.40 | |||
Total Professional Fees | 3,233.40 | |||
Rent | 4,566.51 | |||
Storage | 5,837.68 | |||
Telephone | 306.82 | |||
Telephone / E-mail Expenses | 119.44 | |||
Travel & Ent | ||||
Meals | 216.09 | |||
Total Travel & Ent | 216.09 | |||
Total Expense | 54,843.77 | |||
Net Ordinary Income | -62,093.77 | |||
Other Income/Expense | ||||
Other Income | ||||
Interest Income | 46.47 | |||
Total Other Income | 46.47 | |||
Net Other Income | 46.47 | |||
Net Income | -62,047.30 | |||
Page 14 of 16
X. BALANCE SHEET
(ACCRUAL BASIS ONLY)
(ACCRUAL BASIS ONLY)
Jul 31, 09 | ||||
ASSETS | ||||
Current Assets | ||||
Checking/Savings | ||||
City National — Collection Acco | 1,251,082.48 | |||
Comerica — DIP | 313,167.32 | |||
Due from Vision/to Vision | 9,209.62 | |||
KL Cash Collateral — JP Morgan | 642,455.62 | |||
Total Checking/Savings | 2,215,915.04 | |||
Accounts Receivable | ||||
AR — BL | 15,000.00 | |||
AR — Global Media | 262,500.00 | |||
AR — KL | 258,333.35 | |||
AR — Vision | 47,827.77 | |||
Total Accounts Receivable | 583,661.12 | |||
Total Current Assets | 2,799,576.16 | |||
TOTAL ASSETS | 2,799,576.16 | |||
LIABILITIES & EQUITY | ||||
Liabilities | ||||
Current Liabilities | ||||
Accounts Payable | ||||
Accounts Payable | 29,350.33 | |||
Total Accounts Payable | 29,350.33 | |||
Total Current Liabilities | 29,350.33 | |||
Total Liabilities | 29,350.33 | |||
Equity | ||||
Opening Bal Equity | 2,345,453.91 | |||
Retained Earnings | 993,255.43 | |||
Page 15 of 16
XI. QUESTIONNAIRE
No | Yes | |||||
1. | Has the debtor-in-possession made any payments on its pre-petition unsecured debt, except as have been authorized by the court? If “Yes”, explain below: | Ö | ||||
No | Yes | |||||
2. | Has the debtor-in-possession during this reporting period provided compensation or remuneration to any officers, directors, principals, or other insiders without appropriate authorization? If “Yes”, explain below: | Ö | ||||
3. | State what progress was made during the reporting period toward filing a plan of reorganization Secured creditors are negotiating the final details of the reorg plan. | |||||
4. | Describe potential future developments which may have a significant impact on the case: | |||||
5. | Attach copies of all Orders granting relief from the automatic stay that were entered during the reporting period. | |||||
No | Yes | |||||
6. | Did you receive any exempt income this month, which is not set forth in the operating report? If “Yes”, please set forth the amounts and sources of the income below. | Ö | ||||
I, | Alice P. Neuhauser, Responsible Officer declare under penalty of perjury that I have fully read and understood the foregoing debtor-in-possession operating report and that the information contained herein is true and complete to the best of my knowledge. |
Date | Principal for debtor-in-possession |
Page 16 of 16