EXHIBIT 99.1
UNITED STATES BANKRUPTCY COURT
EASTERN DISTRICT OF MICHIGAN
In the matter of:
Case Number: 02-63996-WS Chapter 11 |
Nexiq Technologies, Inc. | Hon. Walter Shapero |
STATEMENT OF DEBTOR IN POSSESSION
UNDER BANKR. R. PRO. 9011
For the month of November 25, 2002 to December 29, 2002
The Debtor in Possession states:
Attached is a complete and accurate (check appropriate lines).
X | Balance Sheet | ||
X | Profit and Loss Statement | ||
X | Cash Receipts and Disbursements Report | ||
X | Accounts Payable Aging Schedule | ||
X | Taxes Payable/Insurance Schedule | ||
X | Reconciled Bank Statement(s) |
The statements contained within have been completed on a CASH X ACCRUAL BASIS. I understand that any false statement may subject me to sanctions as provided for in Bankr. R. Pro. 9011.
/s/ Kevin F. Kelly Debtor in Possession | |
01/20/2003 |
A. Mail the original to: | Mail one copy of this report to: |
UNITED STATES BANKRUPTCY COURT 21ST FLOOR - COMERICA BUILDING 211 W. FORT STREET DETROIT, MICHIGAN 48226 | OFFICE OF THE U. S. TRUSTEE 211 WEST FORT STREET SUITE 700 DETROIT, MICHIGAN 48226 Attn: John R. Kuhn |
B. Mail a copy of this report to each member of the Creditors' Committee (if any) and the attorney for the Creditors' Committee (if any).
UNITED STATES BANKRUPTCY COURT
EASTERN DISTRICT OF MICHIGAN
In the matter of:
Case Number: 02-63996-WS Chapter 11 |
Nexiq Technologies, Inc. | Hon. Walter Shapero |
AFFIRMATIONS
UNDER BANKR. R. PRO. 9011
As Debtor in Possession, I affirm:
1. | That the insurance, as described in section 5 of the Notice of Operating Instructions and Reporting Requirements, is in effect, and |
2. | That all post petition taxes, as described in section 9 of the Notice of Operating Instructions and Report Requirements are current. |
3. | No professional fees (accountant, attorneys, etc.) have been paid without specific court authorization. Explain below if not true. |
I understand that any false statements may subject me to sanctions as provide for in Bankr. R. Pro. 9011.
/s/ Kevin F. Kelly Debtor in Possession | |
01/20/2003 |
Explanations:
NEXIQ TECHNOLOGIES, INC. | |||
ASSETS | |||
Current Assets | |||
Checking/Savings | |||
Cash | |||
1100 - Cash - Fleet Concentration | 1,972,841.91 | ||
1125 - Cash - Fleet DIP | 24,904.48 | ||
Total Cash | 1,997,746.39 | ||
Total Checking/Savings | 1,997,746.39 | ||
Other Current Assets | |||
Prepaid Expenses | |||
1305 - Prepaid Insurance | 38,525.00 | ||
1340 - Prepaid Deposits | 2,328.57 | ||
Total Prepaid Expenses | 40,853.57 | ||
Total Other Current Assets | 40,853.57 | ||
Total Current Assets | 2,038,599.96 | ||
Fixed Assets | |||
Fixed Assets - Basis | |||
1605 - Furniture | 51,587.90 | ||
Total Fixed Assets - Basis | 51,587.90 | ||
Accumulated Depreciation | |||
1655 - Accum Depr - Furniture | (44,218.20 | ) | |
Total Accumulated Depreciation | (44,218.20 | ) | |
Total Fixed Assets | 7,369.70 | ||
Other Assets | |||
Investments in Subsidiaries | |||
1701 - Investment - Magnetec | 1,236,886.74 | ||
1702 - Investment - Instruments | 7,473,299.31 | ||
1703 - Investment - Termiflex | 5,535,428.71 | ||
1704 - Investment - Micro Palm | 2,145,187.33 | ||
1705 - Investment - MPSI | 3,145,000.00 | ||
1706 - Investment - Oyster | 1,844,643.00 | ||
1707 - Investment - Husky | 446,964.00 | ||
1708 - Investment - DSI | 559,215.00 | ||
Total Investment in Subsidiaries | 22,426,624.09 | ||
Goodwill | |||
1721 - Goodwill - MPSI | 2,552,214.74 | ||
1723 - Goodwill - DSI | 4,030,000.00 | ||
1725 - Accum Amort - MPSI Goodwill | (1,234,643.42 | ) | |
1727 - Accum Amort - DSI Goodwill | (1,318,905.00 | ) | |
Total Goodwill | 4,028,666.32 | ||
Debt Issuance | |||
1740 - Debt Issuance Costs | 2,182,862.00 | ||
1745 - Accum Amort - Debt Issuance | (1,661,096.00 | ) | |
Total Debt Issuance | 521,766.00 | ||
Total Other Assets | 26,977,056.41 | ||
TOTAL ASSETS | 29,023,026.07 |
NEXIQ TECHNOLOGIES, INC. | |||
LIABILITIES & EQUITY | |||
Liabilities | |||
Current Liabilities | |||
Accounts Payable | |||
Accts Payable | |||
2105 - Accounts Payable Pre Petition | 1,528,156.29 | ||
2105 - Accounts Payable Post Petition | 447,913.96 | ||
Total Accts Payable | 1,976,070.25 | ||
Total Accounts Payable | 1,976,070.25 | ||
Other Current Liabilities | |||
Employee Accruals | |||
2305 - Accrued Restructuring | 681,779.88 | ||
Total Employee Accruals | 681,779.88 | ||
Accrued Expenses | |||
2450 - Accrued Transition | 96,099.01 | ||
2490 - Accrued Other | 958,563.84 | ||
Total Accrued Expenses | 1,054,662.85 | ||
Interest | |||
2505 - Accrued Bank Interest | 829,434.54 | ||
2510 - Accrued Convertible Note Int | 2,298,395.77 | ||
2515 - Accrued Other Interest | 142,547.94 | ||
Total Interest | 3,270,378.25 | ||
Due To/From Subsidiaries | |||
2705 - Due To/From MPSI | 8,951,693.64 | ||
2710 - Due To/From Instruments/Mag | 48,815.00 | ||
2715 - Due To/From DSI | (2,536,836.81 | ) | |
2720 - Due To/From Discon't Operations | 10,426,017.00 | ||
Total Due To/From Subsidiaires | 16,889,688.83 | ||
Total Other Current Liabilities | 21,896,509.81 | ||
Total Current Liabilities | 23,872,580.06 | ||
Long Term Liabilities | |||
Notes Payable - Long Term | |||
2917 - Bridge Note - Sunrise | 3,000,000.00 | ||
2905 - Fleet Bank - Term A | 4,656,766.38 | ||
2910 - Fleet Bank - Term B | 573,100.84 | ||
2920 - Convertible Notes - Sunrise | 33,935,000.00 | ||
2925 - Convertible Notes - ANG | 4,181,875.00 | ||
2930 - Convertible Notes - PIK | 6,476,583.19 | ||
2940 - Convertible Notes - Discount | (6,535,981.00 | ) | |
Total Notes Payable - Long Term | 46,287,344.41 | ||
Total Long Term Liabilities | 46,287,344.41 | ||
Total Liabilities | 70,159,924.47 | ||
Equity | |||
3050 - Common Stock | 140,479.62 | ||
3100 - Additional Paid in Capital | 41,181,837.55 | ||
3900 - *Retained Earnings | (76,664,039.47 | ) | |
Net Income | (5,795,176.10 | ) | |
Total Equity | (41,136,898.40 | ) | |
TOTAL LIABILITIES & EQUITY | 29,023,026.07 |
NEXIQ TECHNOLOGIES, INC. | |||
11/25/02 to | |||
Ordinary Income/Expense | |||
Expense | |||
8010 - Compensation Expense | 65,390.00 | ||
8000 - Salaries & Wages | 24,893.05 | ||
Employee Benefits | |||
8105 - Medical and Dental | 566.81 | ||
8110 - Long Term Disability | 247.14 | ||
8115 - Life Insurance | 0.00 | ||
8125 - Auto Allowance | 500.00 | ||
Total Employee Benefits | 1,313.95 | ||
Payroll Expenses | |||
8205 - FICA - Employer Portion | 511.96 | ||
Total Payroll Expenses | 511.96 | ||
8280 - Dues & Subscriptions | 120.00 | ||
8300 - Rent | 10,920.50 | ||
8350 - Supplies | 363.75 | ||
Travel & Entertainment | |||
8370 - Travel | 1,532.53 | ||
8375 - Meals & Entertainment | 75.21 | ||
Total Travel & Entertainment | 1,607.74 | ||
Consultants | |||
8505 - Consultants - General | 1,595.00 | ||
8520 - Consultants - Bankruptcy | 244,075.48 | ||
Total Consultants | 245,670.48 | ||
8575 - Telephone | 358.21 | ||
Depreciation | |||
8650 - Depreciation - Furniture | 0.00 | ||
8655 - Depreciation - Equipment | 0.00 | ||
Total Depreciation | 0.00 | ||
8674 - Amortization Expense - Goodwill | |||
8675 - GW Amortization - MPSI | 14,200.00 | ||
8677 - GW Amortization - DSI | 67,777.00 | ||
Total - 8674 - Amortization Expense - Goodwill | 81,977.00 | ||
8680 - Bank Charges - Monthly Fees | 6,136.93 | ||
Legal | |||
8705 - Legal - General | 0.00 | ||
8716 - Legal - Bankruptcy | 185,342.53 | ||
Total Legal | 185,342.53 | ||
8730 - Audit Fees | 17,500.00 | ||
8740 - General Insurance | 25,472.00 | ||
Public Relations & BOD Exps | |||
8755 - Public Relations | 0.00 | ||
Total Public Relations & BOD Exps | 0.00 | ||
8995 - Miscellaneous | (66.67 | ) | |
Total Expense | 667,511.43 | ||
Net Ordinary Income | (667,511.43 | ) | |
Other Income/Expense | |||
Other Income | |||
9100 - Gain/(Loss) on Sale of Assets | 0.00 | ||
Total Other Income | |||
Other Expense | |||
Interest Expense | |||
9725 - Other | 30,924.65 | ||
9705 - Bank | 106,816.56 | ||
9710 - Convertible Notes | 1,187,933.34 | ||
9715 - Debt Issuance Costs | 74,538.00 | ||
Total Interest Expense | 1,400,212.55 | ||
Taxes | |||
9910 - State Income Taxes | 0.00 | ||
Total Taxes | 0.00 | ||
Total Other Expenses | 1,400,212.55 | ||
Net Other Income | (1,400,212.55 | ) | |
Net Income | (2,067,723.98 | ) | |
|
SUMMARY OF POST PETITION ACCOUNTS PAYABLE AGING SCHEDULE | ||||||||||
NAME OF CREDITOR | 0 - 30 | 31-60 | 61 - 90 | > 90 | BALANCE | |||||
Argus | $ | — | $ | 10,208.25 | $ | — | $ | — | $ | 10,208.25 |
Beringea | 244,075.48 | 244,075.48 | ||||||||
Fleet Bank | 17,733.92 | 17,733.92 | ||||||||
McLane, Graf, Raulerson & Middleton | 62,603.02 | 511.65 | 63,114.67 | |||||||
NE Micrographics | 363.75 | 363.75 | ||||||||
Pepper Hamilton | 87,586.07 | 7,026.82 | 94,612.89 | |||||||
Price Waterhouse | 17,500.00 | 17,500.00 | ||||||||
Southern NH Software Wholesalers | 305.00 | 305.00 | ||||||||
TOTALS | $ | 430,167.24 | $ | 17,746.72 | $ | — | $ | — | $ | 447,913.96 |
U. S. DEPARTMENT OF JUSTICE | |||||||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | |||||||||
TAXES PAYABLE SCHEDULE POST PETITION | |||||||||
Beginning | Additions | Payments/ | Ending | ||||||
Income Tax Withheld: | |||||||||
Federal | $ | — | $ | — | $ | — | $ | — | |
State | 0.00 | 0.00 | |||||||
FICA Tax Withheld | 0.00 | 0.00 | |||||||
Employer's FICA Tax | 0.00 | 11.45 | (11.45 | ) | 0.00 | ||||
Unemployment Tax: | |||||||||
Federal | 0.00 | 0.00 | |||||||
State | 0.00 | 0.00 | |||||||
Sales Use & Excise Tax | 0.00 | 0.00 | |||||||
Property Taxes | 0.00 | 0.00 | |||||||
Accrued Income Tax: | |||||||||
Federal | 0.00 | 0.00 | |||||||
State | 0.00 | 0.00 | |||||||
Other: | 0.00 | 0.00 | |||||||
TOTALS | $ | — | $ | 11.45 | $ | (11.45 | ) | $ | — |
TAXES PAYABLE SCHEDULE | |||||||||
Policy Expiration Date | Premium Paid Through Date | ||||||||
Workers' Compensation | 12/31/02 | 12/31/02 | |||||||
General Liability | 01/08/03 | 11/30/02 (awaiting for closeout billing) | |||||||
Property | 01/08/03 | 11/30/02 (awaiting for closeout billing) | |||||||
Vehicle | 01/08/03 | 11/30/02 (awaiting for closeout billing) | |||||||
Other (list): | |||||||||
Directors and Officers Liability | 09/30/03 | 03/31/03 | |||||||
Technology Errors & Omissions | 06/30/03 | 12/31/02 | |||||||
Crime | 01/31/03 | 01/31/03 | |||||||
U. S. DEPARTMENT OF JUSTICE | |||||||||||
Case Name: Nexiq Technologies, Inc. | |||||||||||
Case Number: 02-63996-WS | |||||||||||
CASH RECEIPTS AND DISBURSEMENTS REPORT | |||||||||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | |||||||||||
GENERAL ACCOUNT | |||||||||||
Fleet | Fleet - DIP | SFB | TOTAL | PAYROLL | TAX | ||||||
CASH ON HAND BEGINNING OF PERIOD | 466,016.92 | 960,837.09 | 0.00 | 1,425,854.01 | 0.00 | 0.00 | |||||
RECEIPTS DURING THE CURRENT PERIOD (see attached schedule) | 24,875.60 | 1,679,435.78 | 72,897.59 | 1,777,208.97 | 0.00 | 0.00 | |||||
Balance Available | 490,892.52 | 2,640,272.87 | 72,897.59 | 3,204,062.98 | 0.00 | 0.00 | |||||
DISBURSEMENTS DURING | (465,988.04 | ) | (667,430.96 | ) | (72,897.59 | ) | (1,206,316.59 | ) | 0.00 | 0.00 | |
CASH ON HAND | 24,904.48 | 1,972,841.91 | 0.00 | 1,997,746.39 | 0.00 | 0.00 | |||||
*** IMPORTANT *** | |||||||||||
Please enter the TOTAL DISBURSEMENTS from all your accounts, including cash and excluding transfers, onto the line below. This is the number that will determine your quarterly fee payment. | |||||||||||
$ | 118,111.53 | ||||||||||
U. S. DEPARTMENT OF JUSTICE UNITED STATES TRUSTEE EASTERN DISTRICT OF MICHIGAN | ||||
Case Name: Nexiq Technologies, Inc. | ||||
Case Number: 02-63996-WS | ||||
RECEIPTS LISTING | ||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | ||||
Bank: | Fleet Bank | |||
Location: | 111 Westminster Street, Providence, RI 02903 | |||
Account Name: | Nexiq Technologies Concentration Account | |||
Account Number: | 9358942298 | |||
DATE | DESCRIPTION | AMOUNT | ||
Transfer | Deposits from WPI Micro Processor Systems | 24,875.60 | ||
TOTAL | $ | 24,875.60 | ||
Receipts may be identified by major categories. It is not necessary to list each transaction separately by name and customer or invoice number. You must, however, create a separate list for each bank account to which receipts were deposited during the month. | ||||
U. S. DEPARTMENT OF JUSTICE UNITED STATES TRUSTEE EASTERN DISTRICT OF MICHIGAN | ||||
Case Name: Nexiq Technologies, Inc. | ||||
Case Number: 02-63996-WS | ||||
RECEIPTS LISTING | ||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | ||||
Bank: | Fleet Bank | |||
Location: | 111 Westminster Street, Providence, RI 02903 | |||
Account Name: | Nexiq Technologies Debtor in Possession Concentration Account | |||
Account Number: | 9429256472 | |||
DATE | DESCRIPTION | AMOUNT | ||
Transfer | Deposits from WPI Micro Processor Systems | 566,781.74 | ||
Transfer | Deposits from Diversified Software Industries | 107,928.02 | ||
12/17/02 | Deposits - NCO collection | 66.67 | ||
12/23/02 | 1,004,659.35 | |||
TOTAL | $ | 1,679,435.78 | ||
Receipts may be identified by major categories. It is not necessary to list each transaction separately by name and customer or invoice number. You must, however, create a separate list for each bank account to which receipts were deposited during the month. |
U. S. DEPARTMENT OF JUSTICE UNITED STATES TRUSTEE EASTERN DISTRICT OF MICHIGAN | ||||
Case Name: Nexiq Technologies, Inc. | ||||
Case Number: 02-63996-WS | ||||
RECEIPTS LISTING | ||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | ||||
Bank: | Standard Federal Bank | |||
Location: | 40950 Van Dyke Avenue, Sterling Heights, MI 48313 | |||
Account Name: | Nexiq Technologies Debtor in Possession | |||
Account Number: | 3664000599 | |||
DATE | DESCRIPTION | AMOUNT | ||
Transfer | Transfer from WPI Micro Processor Systems to cover checks written | 72,897.59 | ||
TOTAL | $ | 72,897.59 | ||
Receipts may be identified by major categories. It is not necessary to list each transaction separately by name and customer or invoice number. You must, however, create a separate list for each bank account to which receipts were deposited during the month. |
U. S. DEPARTMENT OF JUSTICE | |||||||
Case Name: Nexiq Technologies, Inc. | |||||||
Case Number: 02-63996-WS | |||||||
DISBURSEMENTS LISTING | |||||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | |||||||
Bank: | Fleet Bank | ||||||
Location: | 111 Westminster Street, Providence, RI 02903 | ||||||
Account Name: | Nexiq Technologies Concentration Account | ||||||
Account Number: | 9358942298 | ||||||
�� | |||||||
DATE | CHECK | PAYEE | DESCRIPTION | AMOUNT | |||
11/26/02 | Transfer | WPI Micro Processor Systems | Funding Checks written on Nexiq DIP account | 120,000.00 | |||
12/03/02 | Transfer | WPI Micro Processor Systems | Funding Checks written on Nexiq DIP account | 120,000.00 | |||
11/27/02 - 12/04/02 | Transfer | WPI Micro Processor Systems | Wires sent for WPI Micro Processor Systems | 12,145.27 | |||
12/03/02 | Transfer | WPI Micro Processor Systems | Payroll P/E 12/01/02 | 128,291.73 | |||
12/04/02 | Transfer | Diversified Software Industries | Wires sent for Diversified Software Industries | 1,000.00 | |||
12/03/02 | Transfer | Diversified Software Industries | Payroll P/E 12/01/02 | 84,401.36 | |||
12/15/02 | Fleet Bank | Bank fees | 149.68 | ||||
TOTAL | $ | 465,988.04 | |||||
You must create a separate list for each bank account from which disbursements were made during the month. | |||||||
U. S. DEPARTMENT OF JUSTICE | |||||||
Case Name: Nexiq Technologies, Inc. | |||||||
Case Number: 02-63996-WS | |||||||
DISBURSEMENTS LISTING | |||||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | |||||||
Bank: | Fleet Bank | ||||||
Location: | 111 Westminster Street, Providence, RI 02903 | ||||||
Account Name: | Nexiq Technologies Debtor in Possession Concentration Account | ||||||
Account Number: | 9429256472 | ||||||
DATE | CHECK | PAYEE | DESCRIPTION | AMOUNT | |||
12/09/02 | Transfer | WPI Micro Processor Systems | Funding Checks written on Nexiq DIP account | 160,000.00 | |||
12/17/02 | Transfer | WPI Micro Processor Systems | Funding Checks written on Nexiq DIP account | 100,000.00 | |||
12/10/02-12/13/02 | Transfer | WPI Micro Processor Systems | Wires sent for WPI Micro Processor Systems | 4,016.27 | |||
12/19/02 | Transfer | WPI Micro Processor Systems | Payroll for Biweekly period ended 12/15/02 | 130,332.98 | |||
12/27/02 | Transfer | WPI Micro Processor Systems | Payroll for Biweekly period ended 12/20/02 | 78,861.74 | |||
12/05/02 | Transfer | Diversified Software Industries | Wires sent for Diversified Software Industries | 9,925.46 | |||
12/19/02 | Transfer | Diversified Software Industries | Payroll for Biweekly period ended 12/15/02 | 83,626.51 | |||
12/27/02 | Transfer | Diversified Software Industries | Payroll for Biweekly period ended 12/20/02 | 55,603.74 | |||
12/05/02 | Wire | Fidelity Investments | 401(k) FUNDING Payroll P/E 12/01/02 | 12,034.72 | |||
12/18/02 | Wire | Fidelity Investments | 401(k) FUNDING Payroll P/E 12/15/02 | 10,227.25 | |||
12/27/02 | Wire | Fidelity Investments | 401(k) FUNDING Payroll P/E 12/20/02 | 4,395.52 | |||
12/10/02 | Wire | Fleet Bank | Legal Fees | 14,341.54 | |||
12/13/02 | Wire | Fleet Bank | Legal Fees | 3,077.98 | |||
Wire | Fleet Bank | Bank fees | 987.25 | ||||
TOTAL | $ | 667,430.96 | |||||
You must create a separate list for each bank account from which disbursements were made during the month. | |||||||
U. S. DEPARTMENT OF JUSTICE | |||||||
Case Name: Nexiq Technologies, Inc. | |||||||
Case Number: 02-63996-WS | |||||||
DISBURSEMENTS LISTING | |||||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | |||||||
Bank: | Standard Federal Bank | ||||||
Location: | 40950 Van Dyke Avenue, Sterling Heights, MI 48313 | ||||||
Account Name: | Nexiq Technologies Debtor in Possession | ||||||
Account Number: | 3664000599 | ||||||
DATE | CHECK | PAYEE | DESCRIPTION | AMOUNT | |||
11/27/02 | 1230 | BCIA NE HOLDING, LLC | CORPORATE RENT | 15,498.24 | |||
11/27/02 | 1244 | KEVIN KELLY | T&E REIMBURSEMENT | 10.00 | |||
12/05/02 | 1308 | KEVIN KELLY | T&E REIMBURSEMENT | 21.00 | |||
12/13/02 | 1374 | ARGUS MANAGEMENT CORP. | BANKRUPTCY CONSULTANT | 30,079.84 | |||
12/13/02 | 1376 | BERINGEA, LLC | BANKRUPTCY INVESTMENT BANKER | 2,474.90 | |||
12/13/02 | 1383 | LINDA RACETTE | 8-K | 50.00 | |||
12/13/02 | 1384 | MCLANE, GRAF, RAULERSON | CORPORATE LEGAL COUNSEL | 2,899.35 | |||
12/13/02 | 1385 | PEPPER HAMILTON, LLP | BANKRUPTCY ATTORNEY | 21,502.76 | |||
12/17/02 | 1409 | KEVIN KELLY | T&E REIMBURSEMENT | 61.50 | |||
12/17/02 | 1411 | LINDA RACETTE | 8-K | 250.00 | |||
12/20/02 | 1433 | LINDA RACETTE | 8-K | 50.00 | |||
TOTAL | $ | 72,897.59 | |||||
You must create a separate list for each bank account from which disbursements were made during the month. | |||||||
EXHIBIT 99.2
UNITED STATES BANKRUPTCY COURT
EASTERN DISTRICT OF MICHIGAN
In the matter of:
Case Number: 02-63994-WS Chapter 11 |
WPI Micro Processor Systems, Inc. | Hon. Walter Shapero |
STATEMENT OF DEBTOR IN POSSESSION
UNDER BANKR. R. PRO. 9011
For the month of to November 25, 2002 to December 29, 2002
The Debtor in Possession states:
Attached is a complete and accurate (check appropriate lines).
X | Balance Sheet | ||
X | Profit and Loss Statement | ||
X | Cash Receipts and Disbursements Report | ||
X | Accounts Payable Aging Schedule | ||
X | Taxes Payable/Insurance Schedule | ||
X | Reconciled Bank Statement(s) |
The statements contained within have been completed on a CASH X ACCRUAL BASIS. I understand that any false statement may subject me to sanctions as provided for in Bankr. R. Pro. 9011.
/s/ Kevin F. Kelly Debtor in Possession | |
01/20/2003 |
A. Mail the original to: | Mail one copy of this report to: |
UNITED STATES BANKRUPTCY COURT 21ST FLOOR - COMERICA BUILDING 211 W. FORT STREET DETROIT, MICHIGAN 48226 | OFFICE OF THE U. S. TRUSTEE 211 WEST FORT STREET SUITE 700 DETROIT, MICHIGAN 48226 Attn: John R. Kuhn |
B. Mail a copy of this report to each member of the Creditors' Committee (if any) and the attorney for the Creditors' Committee (if any).
UNITED STATES BANKRUPTCY COURT
EASTERN DISTRICT OF MICHIGAN
In the matter of:
Case Number: 02-63994-WS Chapter 11 |
WPI Micro Processor Systems, Inc. | Hon. Walter Shapero |
AFFIRMATIONS
UNDER BANKR. R. PRO. 9011
As Debtor in Possession, I affirm:
1. | That the insurance, as described in section 5 of the Notice of Operating Instructions and Reporting Requirements, is in effect, and |
2. | That all post petition taxes, as described in section 9 of the Notice of Operating Instructions and Report Requirements are current. |
3. | No professional fees (accountant, attorneys, etc.) have been paid without specific court authorization. Explain below if not true. |
I understand that any false statements may subject me to sanctions as provide for in Bankr. R. Pro. 9011.
/s/ Kevin F. Kelly Debtor in Possession | |
01/20/2003 |
Explanations:
WPI MICRO PROCESSOR SYSTEMS, INC. | |||||
ASSETS | |||||
Current Assets | |||||
Checking-Standard Federal Payroll | 456.65 | ||||
Checking-Standard DIP | 27,372.02 | 27,828.67 | |||
Prepaid Rent | 3,595.21 | ||||
Prepaid Insurance | 7,284.90 | ||||
Prepaid Contracts | 14,008.00 | 24,888.11 | |||
Total Current Assets | 52,716.78 | 52,716.78 | |||
Fixed Assets | |||||
Leasehold Improvements | — | — | |||
Accumulated Depreciation | — | — | |||
Total Fixed Assets | — | — | |||
Other Assets | |||||
Security Deposit | 21,895.00 | 21,895.00 | |||
Total Other Assets | 21,895.00 | 21,895.00 | |||
TOTAL ASSETS | 74,611.78 | 74,611.78 |
LIABILITIES & EQUITY | |||||
Liabilities | |||||
Current Liabilities | |||||
Accounts Payable-Pre Petition | 1,373,024.69 | ||||
Accounts Payable-Post Petition | 56,905.86 | 1,429,930.55 | |||
Due To/From NEXIQ Corporate | (8,951,693.64 | ) | |||
Due To/From NEXIQ DSI | 2,153,901.57 | (6,797,792.07 | ) | ||
Accrued Sales & Use Tax | 13.77 | 13.77 | |||
Total Current Liabilities | (5,367,847.75 | ) | (5,367,847.75 | ) | |
Total Liabilities | (5,367,847.75 | ) | (5,367,847.75 | ) | |
Equity | |||||
Common Stock | 3,145,000.00 | 3,145,000.00 | |||
Retained Earnings-Prior | (851,402.28 | ) | (851,402.28 | ) | |
Net Income | 3,148,861.81 | 3,148,861.81 | |||
Total Equity | 5,442,459.53 | 5,442,459.53 | |||
TOTAL LIABILITIES & EQUITY | 74,611.78 | 74,611.78 |
WPI MICRO PROCESSOR SYSTEMS, INC. | |||
11/25/02 to | |||
Income | |||
4000-03 - Sales-Core | 676,390.81 | ||
Total Income - Gross | 676,390.81 | ||
4900-03 - Freight - Outgoing | (1,287.03 | ) | |
4920-03 - Sales Adjustments | 10,492.98 | ||
Total Income - Net | 667,184.86 | ||
Cost of Sales | |||
5000-03 - Direct Materials - Core | 198,149.95 | ||
5500-05 - Direct Labor | 18,053.86 | ||
5600-05 - Overhead | 30,631.48 | ||
Total Cost of Sales | 246,835.29 | ||
Gross Profit | 420,349.57 | ||
Operating Expenses | |||
6000 - Wages | 215,200.77 | ||
6005 - Premium Wages | 258.92 | ||
6015 - Auto Allowance | 650.00 | ||
6020 - Fringes Misc | (1,312.80 | ) | |
6025 - Tuition Assistance/Training | 16,797.54 | ||
6060 - Vacation | (16,565.98 | ) | |
6065 - Personal | 233.30 | ||
6100 - FICA | 11,426.83 | ||
6105 - FUI | (0.05 | ) | |
6110 - SUI | 27.00 | ||
6120 - Labor Reclass to Cost of Sales | (8,185.89 | ) | |
6135 - Sales & Use Tax | 788.70 | ||
6220 - Rent | (4,081.36 | ) | |
6210 - Supplies | 438.36 | ||
6215 - Telephone | 5,478.02 | ||
6220 - Electricity | 1,412.20 | ||
6225 - Disposal | 158.27 | ||
6230 - Water | 59.83 | ||
6235 - Gas | 251.10 | ||
6240 - Auto Expense | 562.11 | ||
6245 - Travel Expense | 3,641.34 | ||
6246 - Meals & Entertainment | 806.79 | ||
6250 - Dues & Subscriptions | (948.60 | ) | |
6260 - Contract Labor | 15,100.00 | ||
6300 - Medical Ins | (7,083.99 | ) | |
6310 - Life Insurance | (221.53 | ) | |
6330 - ST Disability | 739.68 | ||
6350 - Property Taxes | 8,884.58 | ||
6400 - Equipment Maintenance | 10,767.64 | ||
6405 - Equipment Lease | 4,148.67 | ||
6410 - Bank Fees | 127.33 | ||
6415 - Legal | 1,513.29 | ||
6422 - Payroll Processing | 913.94 | ||
6430 - Building Maintenance | 535.22 | ||
6500 - Telephone "1-800" | 500.00 | ||
6530 - Advertising | 1,935.00 | ||
6570 - Offsite Storage | 67.74 | ||
6565 - Postage | 690.85 | ||
6606 - Product Development/Pilots | 6,490.97 | ||
6900 - Miscellaneous Expense | 66.39 | ||
7000 - Gain/Loss on Sale of Assets | (3,601,027.62 | ) | |
Total Operating Expenses | (3,328,755.44 | ) | |
Net Profit (Loss) | 3,749,105.01 | ||
|
U. S. DEPARTMENT OF JUSTICE | |||||||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | |||||||||
TAXES PAYABLE SCHEDULE POST PETITION | |||||||||
Beginning | Additions | Payments/ | Ending | ||||||
Income Tax Withheld: | |||||||||
Federal | $ | — | $ | 51,085.66 | $ | (51,085.66 | ) | $ | — |
State | 0.00 | 12,522.16 | (12,522.16 | ) | 0.00 | ||||
FICA Tax Withheld | 0.00 | 17,574.09 | (17,574.09 | ) | 0.00 | ||||
Employer's FICA Tax | 0.00 | 17,786.14 | (17,786.14 | ) | 0.00 | ||||
Unemployment Tax: | |||||||||
Federal | 0.00 | 0.00 | |||||||
State | 0.00 | 27.00 | (27.00 | ) | 0.00 | ||||
Sales Use & Excise Tax | 11.96 | 13.77 | (11.96 | ) | 13.77 | ||||
Property Taxes | 189.59 | 3,665.06 | (189.59 | ) | 3,665.06 | ||||
Accrued Income Tax: | |||||||||
Federal | 0.00 | 0.00 | |||||||
State | 0.00 | 0.00 | |||||||
Other: Local Tax | 0.00 | 199.21 | (199.21 | ) | 0.00 | ||||
TOTALS | $ | 201.55 | $ | 102,873.09 | $ | (99,395.81 | ) | $ | 3,678.83 |
TAXES PAYABLE SCHEDULE | |||||||||
Policy Expiration Date | Premium Paid Through Date | ||||||||
Workers' Compensation | 12/31/02 | 12/31/02 | |||||||
General Liability | 01/08/03 | 11/30/02 (awaiting for closeout billing) | |||||||
Property | 01/08/03 | 11/30/02 (awaiting for closeout billing) | |||||||
Vehicle | 01/08/03 | 11/30/02 (awaiting for closeout billing) | |||||||
Other (list): | |||||||||
Directors and Officers Liability | 09/30/03 | 03/31/03 | |||||||
Technology Errors & Omissions | 06/30/03 | 12/31/02 | |||||||
Crime | 01/31/03 | 01/31/03 | |||||||
SUMMARY OF POST PETITION ACCOUNTS PAYABLE AGING SCHEDULE | ||||||||||||
NAME OF CREDITOR | BALANCE | 0 - 30 DAYS | 31-60 DAYS | 61-90 DAYS | > 90 DAYS | |||||||
ADP, INC. | $ | 644.37 | $ | 644.37 | $ | — | $ | — | $ | — | ||
AMERITECH | 729.16 | 729.16 | ||||||||||
AT&T | 4,283.08 | 1,133.82 | 3,149.26 | |||||||||
BALBOA CAPITAL CORPORATIN | 250.31 | 250.31 | ||||||||||
BALBOA CAPITAL CORP-BULK | 352.99 | 352.99 | ||||||||||
CATERPILLAR | 21,412.48 | 21,412.48 | ||||||||||
CINGULAR INTERACTIVE-DEV | 1,203.31 | 1,203.31 | ||||||||||
CITY OF STERLING HEIGHTS | 7,200.00 | 7,200.00 | ||||||||||
CITY OF STERLING HEIGHTS | 85.47 | 85.47 | ||||||||||
CONSUMERS ENERGY | 1,220.75 | 1,220.75 | ||||||||||
DETROIT DIESEL | 2,970.00 | 2,970.00 | ||||||||||
DETROIT EDISON | 500.00 | 500.00 | ||||||||||
EATON | 504.00 | 504.00 | ||||||||||
EXPANETS, INC. | 681.86 | 656.76 | 25.10 | |||||||||
EUREKA TECHNOCRATS, INC. | 4,400.00 | 4,400.00 | ||||||||||
FEDERAL EXPRESS CORP | 1,475.68 | 1,475.68 | ||||||||||
IMAGE-TEK EXHIBITS | 150.00 | 150.00 | ||||||||||
LEDDS DEVELOPMENT | 3,665.06 | 3,665.06 | ||||||||||
DEBBIE LOVALVO | 307.60 | 307.60 | ||||||||||
MR. PITA | 69.31 | 69.31 | ||||||||||
RADER FISHMAN | 782.96 | 782.96 | ||||||||||
RAYMOND DRYER | 100.00 | 100.00 | ||||||||||
T MOBILE | 61.53 | 61.53 | ||||||||||
UNITED PARCEL SERVICE | 1,687.19 | 1,687.19 | ||||||||||
VERIO, INC. -22 | 1,006.50 | 1,006.50 | ||||||||||
WIRELESS CAR | 1,162.25 | 1,162.25 | ||||||||||
TOTALS | $ | 56,905.86 | $ | 53,731.50 | $ | 3,174.36 | $ | — | $ | — | ||
U. S. DEPARTMENT OF JUSTICE | |||||||||||
Case Name: WPI Micro Processor Systems, Inc. | |||||||||||
Case Number: 02-63994-WS | |||||||||||
CASH RECEIPTS AND DISBURSEMENTS REPORT | |||||||||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | |||||||||||
GENERAL ACCOUNT | |||||||||||
Fleet | Fleet - DIP | SFB | TOTAL | PAYROLL | TAX | ||||||
CASH ON HAND BEGINNING OF PERIOD | 0.00 | 0.00 | (17,135.18 | ) | (17,135.18 | ) | 500.00 | 0.00 | |||
RECEIPTS DURING THE CURRENT PERIOD (see attached schedule) | 37,020.87 | 570,798.01 | 500,000.00 | 1,107,818.88 | 337,486.45 | 0.00 | |||||
Balance Available | 37,020.87 | 570,798.01 | 482,864.82 | 1,090,683.70 | 337,986.45 | 0.00 | |||||
DISBURSEMENTS DURING | (37,020.87 | ) | (570,798.01 | ) | (455,492.80 | ) | (1,063,311.68 | ) | (337,529.80 | ) | 0.00 |
CASH ON HAND | 0.00 | 0.00 | 27,372.02 |
| 27,372.02 |
| 456.65 | 0.00 | |||
*** IMPORTANT *** | |||||||||||
Please enter the TOTAL DISBURSEMENTS from all your accounts, including cash and excluding transfers, onto the line below. This is the number that will determine your quarterly fee payment. | |||||||||||
$ | 689,127.85 | ||||||||||
U. S. DEPARTMENT OF JUSTICE UNITED STATES TRUSTEE EASTERN DISTRICT OF MICHIGAN | ||||
Case Name: WPI Micro Processor Systems, Inc. | ||||
Case Number: 02-63994-WS | ||||
RECEIPTS LISTING | ||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | ||||
Bank: | Fleet Bank | |||
Location: | 111 Westminster Street, Providence, RI 02903 | |||
Account Name: | Nexiq Technologies Concentration Account | |||
Account Number: | 9358942298 | |||
DATE | DESCRIPTION | AMOUNT | ||
11/25/02 - 12/20/02 | A/R Deposits from WPI Micro Processor Systems | 24,875.60 | ||
Transfer | Transfers from Nexiq Technologies to cover wire transfers | 12,145.27 | ||
TOTAL | $ | 37,020.87 | ||
Receipts may be identified by major categories. It is not necessary to list each transaction separately by name and customer or invoice number. You must, however, create a separate list for each bank account to which receipts were deposited during the month. | ||||
U. S. DEPARTMENT OF JUSTICE UNITED STATES TRUSTEE EASTERN DISTRICT OF MICHIGAN | ||||
Case Name: WPI Micro Processor Systems, Inc. | ||||
Case Number: 02-63994-WS | ||||
RECEIPTS LISTING | ||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | ||||
Bank: | Fleet Bank | |||
Location: | 111 Westminster Street, Providence, RI 02903 | |||
Account Name: | Nexiq Technologies Debtor in Possession Concentration Account | |||
Account Number: | 9429256472 | |||
DATE | DESCRIPTION | AMOUNT | ||
11/25/02 - 12/20/02 | A/R Deposits from WPI Micro Processor Systems | 562,018.11 | ||
11/25/02 - 12/20/02 | Non A/R Deposits from WPI Micro Processor Systems | 4,763.63 | ||
Transfer | Transfers from Nexiq Technologies to cover wire transfers | 4,016.27 | ||
TOTAL | $ | 570,798.01 | ||
Receipts may be identified by major categories. It is not necessary to list each transaction separately by name and customer or invoice number. You must, however, create a separate list for each bank account to which receipts were deposited during the month. |
U. S. DEPARTMENT OF JUSTICE UNITED STATES TRUSTEE EASTERN DISTRICT OF MICHIGAN | ||||
Case Name: WPI Micro Processor Systems, Inc. | ||||
Case Number: 02-63994-WS | ||||
RECEIPTS LISTING | ||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | ||||
Bank: | Standard Federal Bank | |||
Location: | 40950 Van Dyke Avenue, Sterling Heights, MI 48313 | |||
Account Name: | Nexiq Technologies Debtor in Possession | |||
Account Number: | 3664000599 | |||
DATE | DESCRIPTION | AMOUNT | ||
Transfer | Transfer from Nexiq Technologies to cover checks written | 240,000.00 | ||
Transfer | Transfer from Nexiq Technologies to cover checks written | 260,000.00 | ||
TOTAL | $ | 500,000.00 | ||
Receipts may be identified by major categories. It is not necessary to list each transaction separately by name and customer or invoice number. You must, however, create a separate list for each bank account to which receipts were deposited during the month. |
U. S. DEPARTMENT OF JUSTICE UNITED STATES TRUSTEE EASTERN DISTRICT OF MICHIGAN | ||||
Case Name: WPI Micro Processor Systems, Inc. | ||||
Case Number: 02-63994-WS | ||||
RECEIPTS LISTING | ||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | ||||
Bank: | Standard Federal Bank | |||
Location: | 40950 Van Dyke Avenue, Sterling Heights, MI 48313 | |||
Account Name: | Nexiq Technologies Debtor in Possession | |||
Account Number: | 5607110490 | |||
DATE | DESCRIPTION | AMOUNT | ||
Transfer | Transfer from Fleet - Biweekly payroll for period ending 12/01/02 | 128,291.73 | ||
Transfer | Transfer from Fleet - Biweekly payroll for period ending 12/15/02 | 130,332.98 | ||
Transfer | Transfer from Fleet - Biweekly payroll for period ending 12/20/02 | 78,861.74 | ||
TOTAL | $ | 337,486.45 | ||
Receipts may be identified by major categories. It is not necessary to list each transaction separately by name and customer or invoice number. You must, however, create a separate list for each bank account to which receipts were deposited during the month. |
U. S. DEPARTMENT OF JUSTICE | |||||||
Case Name: WPI Micro Processor Systems, Inc. | |||||||
Case Number: 02-63994-WS | |||||||
DISBURSEMENTS LISTING | |||||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | |||||||
Bank: | Fleet Bank | ||||||
Location: | 111 Westminster Street, Providence, RI 02903 | ||||||
Account Name: | Nexiq Technologies Concentration Account | ||||||
Account Number: | 9358942298 | ||||||
DATE | CHECK | PAYEE | DESCRIPTION | AMOUNT | |||
11/27/02 | Wire | NORTECH SYSTEMS | INVENTORY | 3,920.02 | |||
12/03/02 | Wire | NORTECH SYSTEMS | INVENTORY | 5,226.25 | |||
12/04/02 | Wire | XLSOFT | USB SOFTWARE FOR ENGINEERING | 2,999.00 | |||
11/25/02-12/20/02 | Transfer | Nexiq Technologies | Deposit comingled with other funds | 24,875.60 | |||
TOTAL | $ | 37,020.87 | |||||
You must create a separate list for each bank account from which disbursements were made during the month. | |||||||
U. S. DEPARTMENT OF JUSTICE | |||||||
Case Name: WPI Micro Processor Systems, Inc. | |||||||
Case Number: 02-63994-WS | |||||||
DISBURSEMENTS LISTING | |||||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | |||||||
Bank: | Fleet Bank | ||||||
Location: | 111 Westminster Street, Providence, RI 02903 | ||||||
Account Name: | Nexiq Technologies Debtor in Possession Concentration Account | ||||||
Account Number: | 9429256472 | ||||||
DATE | CHECK | PAYEE | DESCRIPTION | AMOUNT | |||
12/10/02 | Wire | NORTECH SYSTEMS | INVENTORY | 1,577.17 | |||
12/13/02 | Wire | NORTECH SYSTEMS | INVENTORY | 2,439.10 | |||
11/25/02-12/20/02 | Transfer | Nexiq Technologies | Deposit comingled with other funds | 562,018.11 | |||
11/25/02-12/29/02 | Transfer | Nexiq Technologies | Deposit comingled with other funds | 4,763.63 | |||
TOTAL | $ | 570,798.01 | |||||
You must create a separate list for each bank account from which disbursements were made during the month. | |||||||
U. S. DEPARTMENT OF JUSTICE | |||||||
Case Name: WPI Micro Processor Systems, Inc. | |||||||
Case Number: 02-63994-WS | |||||||
DISBURSEMENTS LISTING | |||||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | |||||||
Bank: | Standard Federal Bank | ||||||
Location: | 40950 Van Dyke Avenue, Sterling Heights, MI 48313 | ||||||
Account Name: | Nexiq Technologies Debtor in Possession | ||||||
Account Number: | 3664000599 | ||||||
DATE | CHECK | PAYEE | DESCRIPTION | AMOUNT | |||
Transfer | Diversified Software Industries | Checks written | 47,158.70 | ||||
Transfer | Nexiq Technologies | Checks written | 72,897.59 | ||||
11/27/02 | 1225 | ALBIN BUSINESS COPIERS | METER CHARGE | 358.00 | |||
11/27/02 | 1226 | ARROW ELECTRONIC | INVENTORY | 1,937.50 | |||
11/27/02 | 1227 | ADP, INC. | PAYROLL | 263.23 | |||
11/27/02 | 1228 | BALBOA CAPITAL CORPORATI | ACCOUNT PRINTER LEASE | 250.31 | |||
11/27/02 | 1229 | BALBOA CAPITAL - BULK | FAX MACHINE LEASE | 322.14 | |||
11/27/02 | 1231 | BEST WESTERN STERLING INN | BALANCE OF X-MAS PARTY | 1,861.83 | |||
11/27/02 | 1232 | CDW COMPUTER CENTERS, INC | INVENTORY | 1,716.00 | |||
11/27/02 | 1233 | CINTAS | MFG SUPPLIES | 255.67 | |||
11/27/02 | 1234 | CONSUMERS ENERGY | GAS BILL | 750.11 | |||
11/27/02 | 1235 | CONTINENTAL CARTON & PACK | INVENTORY | 569.46 | |||
11/27/02 | 1236 | DETROIT EDISON | ELECTRIC BILL | 2,793.12 | |||
11/27/02 | 1237 | DIGI-KEY CORPORATION | INVENTORY | 1,909.49 | |||
11/27/02 | 1238 | EXECUTIVE INSTALLATION | 962.00 | ||||
11/27/02 | 1239 | EXPANETS FINANCIAL | PHONE LEASE | 3,814.19 | |||
11/27/02 | 1240 | INTERNATIONAL ACCT CENTER | REFUND CHECK | 715.00 | |||
11/27/02 | 1241 | JAMES SURA | T&E REIMBURSEMENT | 2,283.01 | |||
11/27/02 | 1242 | KAM PATEL | T&E REIMBURSEMENT | 664.18 | |||
11/27/02 | 1243 | KAREN FRANK | T&E REIMBURSEMENT | 90.00 | |||
11/27/02 | 1245 | LECTRONICS, INC. | INVENTORY | 2,800.00 | |||
11/27/02 | 1246 | MARLA CENTOFANTI | T&E REIMBURSEMENT | 124.24 | |||
11/27/02 | 1247 | METRO MUSIC | BALANCE OF X-MAS DJ | 450.00 | |||
11/27/02 | 1248 | MOCERI & SONS ELECTRIC | BUILDING MANT. | 292.40 | |||
11/27/02 | 1249 | PETTY CASH | PETTY CASH | 300.46 | |||
11/27/02 | 1250 | MR PITA | CATERING | 126.18 | |||
11/27/02 | 1251 | MURRY PERCIVAL | INVENTORY | 149.29 | |||
11/27/02 | 1252 | PACKER ASSEMBLY, INC. | INVENTORY | 2,532.00 | |||
11/27/02 | 1253 | PLASTIC FORMING COMPANY | INVENTORY | 1,131.20 | |||
11/27/02 | 1254 | RICHARD HAHN | T&E REIMBURSEMENT | 140.45 | |||
11/27/02 | 1255 | TETRA TECHNOLOGIES | JAMIE SURA RENT | 300.00 | |||
11/27/02 | 1256 | WIRELESSCAR NORTH AMERIC | ETECH COMM 10/12/02-11/30/02 | 17,623.00 | |||
12/02/02 | 1257 | CONTINENTAL CARTON & PACK | SHIPPING SUPPLIES | 228.30 | |||
12/02/02 | 1258 | COSTELLO IMAGE GRAPHICS | INVENTORY | 1,659.10 | |||
12/02/02 | 1259 | DARSON COMPANY | INVENTORY | 323.25 | |||
12/02/02 | 1260 | EDP, COMPANY | INVENTORY | 15,800.00 | |||
12/02/02 | 1261 | LECTRONICS, INC. | INVENTORY | 5,875.00 | |||
12/02/02 | 1262 | REPTRON ELECTRONICS, INC. | INVENTORY | 10,355.40 | |||
12/03/02 | 1264 | BLUE CROSS BLUE SHIELD | BENEFITS | 16,028.94 | |||
12/03/02 | 1265 | BLUE CARE NETWORK | BENEFITS | 3,002.27 | |||
12/03/02 | 1268 | DELTA DENTAL | BENEFITS | 2,843.64 | |||
12/03/02 | 1269 | M-CARE | BENEFITS | 11,699.97 | |||
12/03/02 | 1276 | UNUM | BENEFITS | 881.81 | |||
12/03/02 | 1277 | UNUM LIFE INSURANCE | BENEFITS | 375.15 | |||
12/03/02 | 1279 | VISION SERVICE PLAN | BENEFITS | 566.05 | |||
12/03/02 | 1282 | ARROW ELECTRONICS, INC. | INVENTORY | 1,566.02 | |||
12/03/02 | 1283 | CHESAPEAKE DISPLAY & PACK | SHIPPING BOXES | 805.68 | |||
12/03/02 | 1284 | COSTELLO IMAGE GRAPHICS | INVENTORY | 1,742.65 | |||
12/03/02 | 1285 | DARSON CORPORATION | INVENTORY | 542.50 | |||
12/03/02 | 1286 | DATACOMM CABLES, INC. | INVENTORY | 625.00 | |||
12/03/02 | 1287 | DEBRON | INVENTORY | 6,680.00 | |||
12/03/02 | 1288 | DIGI-KEY CORPORATION | INVENTORY | 57.22 | |||
12/03/02 | 1289 | LEADING EDGE | INVENTORY | 3,847.50 | |||
12/03/02 | 1290 | LECTRONICS, INC. | INVENTORY | 11,004.80 | |||
12/03/02 | 1291 | PLASTIC FORMING COMPANY | INVENTORY | 2,262.40 | |||
12/03/02 | 1292 | PLYMOUTH PACKAGING | SHIPPING INSERTS | 1,072.00 | |||
12/03/02 | 1293 | REPTRON ELECTRONICS, INC. | INVENTORY | 4,390.00 | |||
12/03/02 | 1294 | STRYDEL, INC. | INVENTORY | 2,588.52 | |||
12/04/02 | 1296 | CRATE & FLY | INVENTORY | 1,473.52 | |||
12/04/02 | 1297 | PLASTIC FORMING COMPANY | INVENTORY | 1,414.00 | |||
12/05/02 | 1298 | ALBIN BUSINESS COPIERS | COPY MACHINE MAINTENANCE | 325.00 | |||
12/05/02 | 1299 | AMERITECH | LOCAL PHONE CHARGES | 1,379.12 | |||
12/05/02 | 1300 | ADP, INC. | PAYROLL SERVICES | 225.23 | |||
12/05/02 | 1301 | C DAVIS ROOFING COMPANY | BUILDING MAINTENANCE | 1,355.85 | |||
12/05/02 | 1302 | CINTAS | MFG SUPPLIES | 519.03 | |||
12/05/02 | 1303 | CITY OF STERLING HEIGHTS | WATER AND SEWER BILL | 72.71 | |||
12/05/02 | 1305 | EXPANETS, INC. | PHONE SYSTEM MAINTENANCE | 1,991.22 | |||
12/05/02 | 1306 | FEDERAL EXPRESS | SHIPPING CHARGES | 1,352.04 | |||
12/05/02 | 1307 | G & P CLEANING COMPANY | CLEANING SERVICES | 1,250.00 | |||
12/05/02 | 1309 | MICHAEL KAPOLKA | T&E REIMBURSEMENT | 29.19 | |||
12/05/02 | 1310 | PETTY CASH - DEBBIE LOVALV | PETTY CASH | 200.00 | |||
12/05/02 | 1311 | MR PITA | CATERING | 78.98 | |||
12/05/02 | 1312 | RICHARD HAHN | T&E REIMBURSEMENT | 97.38 | |||
12/05/02 | 1313 | UNITED PARCEL SERVICE | SHIPPING CHARGES | 8,192.17 | |||
12/05/02 | 1314 | VERIO, INC. | INTERNET CONNECTION | 1,274.90 | |||
12/05/02 | 1315 | WIRELESSCAR NORTH AMERIC | ETECH COMM DECEMBER | 10,650.00 | |||
12/05/02 | 1316 | DE CLARKS LANDSCAPING | LANDSCAPING | 262.00 | |||
12/05/02 | 1317 | JOE SPADA | CONTRACT LABOR - CATALOG | 1,032.00 | |||
12/06/02 | 1318 | COSTELLO IMAGE GRAPHICS | INVENTORY | 1,686.65 | |||
12/06/02 | 1319 | LADD INDUSTRIES SALES | INVENTORY | 164.80 | |||
12/06/02 | 1320 | LEDDS DEVELOPMENT | MI RENT BLDG 1 & 2 | 20,705.00 | |||
12/06/02 | 1321 | Y SQUARED | INVENTORY | 180.00 | |||
12/10/02 | 1322 | REPTRON ELECTRONICS, INC. | INVENTORY | 16,240.00 | |||
12/10/02 | 1323 | COSTELLO IMAGE GRAPHICS | INVENTORY | 1,605.65 | |||
12/10/02 | 1324 | DARSON CORPORATION | INVENTORY | 1,099.25 | |||
12/10/02 | 1325 | DEBRON | INVENTORY | 2,672.00 | |||
12/10/02 | 1326 | EDP, COMPANY | INVENTORY | 15,280.00 | |||
12/10/02 | 1327 | HI TECH SALES CO. | INVENTORY | 607.80 | |||
12/10/02 | 1328 | LEADING EDGE | INVENTORY | 3,120.00 | |||
12/10/02 | 1329 | AETHER SYSTEMS, INC. | BLACKBERRIES | 146.90 | |||
12/10/02 | 1330 | ALBIN BUSINESS COPIERS | METER CHARGE - COPIER | 319.94 | |||
12/10/02 | 1331 | AMERICA II ELECTRONICS | INVENTORY | 400.00 | |||
12/10/02 | 1332 | AMERICAN TRUCKING ASSOC. | MEMBERSHIP FEE | 175.00 | |||
12/10/02 | 1333 | ARROW ELECTRONICS, INC. | INVENTORY | 177.32 | |||
12/10/02 | 1334 | AT&T - PHONE | E-TECH DSL | 439.90 | |||
12/10/02 | 1335 | AT&T - PHONE | MSPI LONG DISTANCE | 437.33 | |||
12/10/02 | 1336 | AT&T - PHONE | T1 MICHIGAN TO IOWA | 4,676.29 | |||
12/10/02 | 1337 | ADP, INC. | PAYROLL SERVICE | 149.12 | |||
12/10/02 | 1338 | BALBOA CAPITAL CORPORATI | ACCOUNTING PRINTER LEASE | 161.49 | |||
12/10/02 | 1339 | BALBOA CAPITAL - BULK | FAX MACHINE LEASE | 207.83 | |||
12/10/02 | 1340 | CDW COMPUTER CENTERS, INC | INVENTORY | 386.00 | |||
12/10/02 | 1341 | CELLNET COMMUNICATIONS | CELL PHONES | 6,926.56 | |||
12/10/02 | 1342 | CINGULAR INTERACTIVE | E-TECH | 910.57 | |||
12/10/02 | 1343 | CITICAPTIAL COMMERCIAL | FORK LIFT LEASE | 200.51 | |||
12/10/02 | 1344 | CITY OF STERLING HEIGHTS | WINTER PERSONAL PROPERTY TAX | 189.59 | |||
12/10/02 | 1345 | CUSTOM COFFEE SERVICES | WATER COOLER RENTAL | 36.13 | |||
12/10/02 | 1347 | DIANE HALL | FSA REIMBURSEMENT | 54.71 | |||
12/10/02 | 1348 | DIGI-KEY CORPORATION | INVENTORY | 138.80 | |||
12/10/02 | 1349 | ERVIN LEASING COMPANY | COPIER AND FAX LEASES | 1,424.58 | |||
12/10/02 | 1350 | EUREKA TECHNOCRATS, INC. | CONTRACT LABOR | 4,400.00 | |||
12/10/02 | 1351 | FEDERAL EXPRESS | SHIPPING CHARGES | 278.77 | |||
12/10/02 | 1352 | IMAGE - TEK EXHIBITS | OFF SITE STORAGE | 246.77 | |||
12/10/02 | 1353 | JAMES SURA | T&E REIMBURSEMENT | 1,752.15 | |||
12/10/02 | 1358 | PITNEY BOWES CREDIT CORP | POSTAGE MACHINE LEASE | 1,291.08 | |||
12/10/02 | 1359 | PRIORITY MANAGEMENT | SUPPLIES | 93.55 | |||
12/10/02 | 1361 | RICHARD HANH | T&E REIMBURSEMENT | 94.83 | |||
12/10/02 | 1362 | SCOTT SPECIALTY GASES | GAS RENTAL | 21.20 | |||
12/10/02 | 1365 | STATE OF MICHIGAN | SALES AND USE TAX - NOVEMBER | 11.96 | |||
12/10/02 | 1366 | THOMAS KOTENKO | T&E REIMBURSEMENT | 250.43 | |||
12/10/02 | 1367 | TOM CARTER | T&E REIMBURSEMENT | 142.23 | |||
12/10/02 | 1370 | WASTE MANAGEMENT MICHIG | TRASH SERVICE | 576.76 | |||
12/13/02 | 1373 | AMERITECH - PHONE | MPSI LOCAL VOICE | 1,050.33 | |||
12/13/02 | 1375 | AT&T - PHONE | E-TECH DSL | 141.90 | |||
12/13/02 | 1377 | BRIAN YAX | T&E REIMBURSEMENT | 25.50 | |||
12/13/02 | 1378 | CONTINENTAL CARTON & PACK | SHIPPING SUPPLIES | 300.60 | |||
12/13/02 | 1379 | DAN MORRIS | T&E REIMBURSEMENT | 129.16 | |||
12/13/02 | 1380 | DAVE SKLADANOWSKI | T&E REIMBURSEMENT | 42.63 | |||
12/13/02 | 1381 | JOE SPADA | CONTRACT LABOR | 3,408.00 | |||
12/13/02 | 1382 | LECTRONIC, INC. | INVENTORY | 5,286.07 | |||
12/13/02 | 1386 | RICHARD HAHN | T&E REIMBURSEMENT | 86.42 | |||
12/17/02 | 1387 | A & B RADIO & ALARM | ALARM SYSTEM | 65.00 | |||
12/17/02 | 1390 | AT&T | LONG DISTANCE CHARGE | 3,598.60 | |||
12/17/02 | 1391 | AT&T TELECONFERENCE SRV | TELECONFERENCE | 117.31 | |||
12/17/02 | 1392 | ADP, INC. | PAYROLL | 269.57 | |||
12/17/02 | 1393 | CINGULAR INTERACTIVE | E-TECH COMM | 2,833.65 | |||
12/17/02 | 1395 | CINTAS | MFG UNIFORMS | 338.33 | |||
12/17/02 | 1397 | CONSUMERS ENERGY | GAS SERVICES | 1,322.15 | |||
12/17/02 | 1398 | COSTELLO IMAGE GRAPHICS | INVENTORY | 368.35 | |||
12/17/02 | 1399 | CUSTOM COFFEE SERVICE | WATER COOLER RENTAL | 28.00 | |||
12/17/02 | 1400 | DARSON CORPORATION | INVENTORY | 320.25 | |||
12/17/02 | 1402 | DETROIT EDISON | ELECTRICAL SERVICES | 3,703.32 | |||
12/17/02 | 1403 | DHL WORLDWIDE EXPRESS | SHIPPING CHARGES | 75.03 | |||
12/17/02 | 1404 | EDP COMPANY | INVENTORY | 3,400.00 | |||
12/17/02 | 1405 | EXECUTIVE INSTALLATION | INSTALLATION OF CUBE WALLS | 224.00 | |||
12/17/02 | 1406 | EXPANETS FINANCIAL | PHONE LEASE | 3,184.00 | |||
12/17/02 | 1407 | FEDERAL EXPRESS | SHIPPING CHARGES | 26.00 | |||
12/17/02 | 1410 | LECTRONICS, INC. | INVENTORY | 1,483.67 | |||
12/17/02 | 1412 | MICHAEL KAPOLKA | T&E REIMBURSEMENT | 56.03 | |||
12/17/02 | 1413 | MITCHELLE REPAIR | SOFTWARE | 1,760.93 | |||
12/17/02 | 1414 | PETTY CASH | PETTY CASH REIMBURSEMENT | 617.95 | |||
12/17/02 | 1415 | PAC TEC | INVENTORY | 1,632.50 | |||
12/17/02 | 1416 | UNITED PARCEL SERVICE | SHIPPING CHARGES | 4,444.84 | |||
12/19/02 | 1418 | DIGI-KEY CORPORATION | INVENTORY | 302.06 | |||
12/19/02 | 1419 | FUTURE ELECTRONICS | INVENTORY | 209.00 | |||
12/19/02 | 1420 | JILL ALLEN | CONTRACT LABOR | 540.00 | |||
12/19/02 | 1421 | LEADING EDGE | INVENTORY | 521.25 | |||
12/19/02 | 1422 | FUTURE ELECTRONICS | INVENTORY | 18.00 | |||
12/20/02 | 1423 | JAMIE SURA | T&E REIMBURSEMENT | 2,275.26 | |||
12/20/02 | 1425 | BRIAN YAX | T&E REIMBURSEMENT | 54.75 | |||
12/20/02 | 1426 | CELLNET COMMUNICATIONS | CELL PHONES | 3,182.14 | |||
12/20/02 | 1427 | CINTAS | MFG UNIFORMS | 173.01 | |||
12/20/02 | 1428 | EUREKA TECHNOCRATS, INC. | CONTRACT LABOR | 5,720.00 | |||
12/20/02 | 1429 | FEDERAL EXPRESS | SHIPPING SERVICES | 429.54 | |||
12/20/02 | 1431 | JAMIE SURA | T&E REIMBURSEMENT | 268.45 | |||
12/20/02 | 1432 | KAREN FRANK | T&E REIMBURSEMENT | 615.43 | |||
12/20/02 | 1434 | MR PITA | CATERING LUNCH | 236.48 | |||
12/20/02 | 1435 | RICHARD HAHN | T&E REIMBURSEMENT | 103.95 | |||
12/20/02 | 1436 | UNITED PARCEL SERVICE | SHIPPING SERVICES | 1,962.81 | |||
12/20/02 | 1437 | JOE FOURNIER | T&E REIMBURSEMENT | 103.78 | |||
12/20/02 | 1438 | NATHAN AMPUNAN | RETURN JAN COBRA PAID | 755.11 | |||
12/15/02 | Standard Federal Bank | Bank Fee | 63.98 | ||||
TOTAL | $ | 455,492.80 | |||||
You must create a separate list for each bank account from which disbursements were made during the month. | |||||||
U. S. DEPARTMENT OF JUSTICE | |||||||
Case Name: WPI Micro Processor Systems, Inc. | |||||||
Case Number: 02-63994-WS | |||||||
DISBURSEMENTS LISTING | |||||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | |||||||
Bank: | Standard Federal Bank | ||||||
Location: | 40950 Van Dyke Avenue, Sterling Heights, MI 48313 | ||||||
Account Name: | Nexiq Technologies Debtor in Possession | ||||||
Account Number: | 5607110490 | ||||||
DATE | CHECK | PAYEE | DESCRIPTION | AMOUNT | |||
12/05/02 | Wires | All Employees | Payroll for Biweekly period ended 12/01/02 | 128,291.73 | |||
12/19/02 | Wires | All Employees | Payroll for Biweekly period ended 12/15/02 | 130,332.98 | |||
12/27/02 | Wires | All Employees | Payroll for Biweekly period ended 12/20/02 | 78,861.74 | |||
Standard Federal Bank | Monthly Bank Fee | 43.35 | |||||
| |||||||
TOTAL | $ | 337,529.80 | |||||
You must create a separate list for each bank account from which disbursements were made during the month. | |||||||
EXHIBIT 99.3
UNITED STATES BANKRUPTCY COURT
EASTERN DISTRICT OF MICHIGAN
In the matter of:
Case Number: 02-63998-WS Chapter 11 |
Diversified Software Industries, Inc. | Hon. Walter Shapero |
STATEMENT OF DEBTOR IN POSSESSION
UNDER BANKR. R. PRO. 9011
For the month of November 25, 2002 to December 29, 2002
The Debtor in Possession states:
Attached is a complete and accurate (check appropriate lines).
X | Balance Sheet | ||
X | Profit and Loss Statement | ||
X | Cash Receipts and Disbursements Report | ||
X | Accounts Payable Aging Schedule | ||
X | Taxes Payable/Insurance Schedule | ||
X | Reconciled Bank Statement(s) |
The statements contained within have been completed on a CASH X ACCRUAL BASIS. I understand that any false statement may subject me to sanctions as provided for in Bankr. R. Pro. 9011.
/s/ Kevin F. Kelly Debtor in Possession | |
01/20/2003 |
A. Mail the original to: | Mail one copy of this report to: |
UNITED STATES BANKRUPTCY COURT 21ST FLOOR - COMERICA BUILDING 211 W. FORT STREET DETROIT, MICHIGAN 48226 | OFFICE OF THE U. S. TRUSTEE 211 WEST FORT STREET SUITE 700 DETROIT, MICHIGAN 48226 Attn: John R. Kuhn |
B. Mail a copy of this report to each member of the Creditors' Committee (if any) and the attorney for the Creditors' Committee (if any).
UNITED STATES BANKRUPTCY COURT
EASTERN DISTRICT OF MICHIGAN
In the matter of:
Case Number: 02-63998-WS Chapter 11 |
Diversified Software Industries, Inc. | Hon. Walter Shapero |
AFFIRMATIONS
UNDER BANKR. R. PRO. 9011
As Debtor in Possession, I affirm:
1. | That the insurance, as described in section 5 of the Notice of Operating Instructions and Reporting Requirements, is in effect, and |
2. | That all post petition taxes, as described in section 9 of the Notice of Operating Instructions and Report Requirements are current. |
3. | No professional fees (accountant, attorneys, etc.) have been paid without specific court authorization. Explain below if not true. |
I understand that any false statements may subject me to sanctions as provide for in Bankr. R. Pro. 9011.
/s/ Kevin F. Kelly Debtor in Possession | |
01/20/2003 |
Explanations:
DIVERSIFIED SOFTWARE INDUSTRIES, INC. | |||||
ASSETS | |||||
Current Assets | |||||
Checking-Hawkeye State Bank | 224.31 | ||||
Checking-FSA | 116.56 | 340.87 | |||
Accounts Receivable | 42,834.13 | 42,834.13 | |||
Total Current Assets | 43,175.00 | 43,175.00 | |||
Fixed Assets | |||||
Automobile | 26,082.00 | ||||
Computer Hardware | 47,171.98 | ||||
Computer Software | 4,010.00 | 77,263.98 | |||
Accumulated Depreciation | (37,933.02 | ) | (37,933.02 | ) | |
Total Fixed Assets | 39,330.96 | 39,330.96 | |||
Other Assets | |||||
Security Deposit | 2,630.38 | ||||
Deposits - Utilities | 1,992.00 | 4,622.38 | |||
Total Other Assets | 4,622.38 | 4,622.38 | |||
TOTAL ASSETS | 87,128.34 | 87,128.34 |
LIABILITIES & EQUITY | |||||
Liabilities | |||||
Current Liabilities | |||||
Accounts Payable-Pre Petition | 101,817.72 | ||||
Accounts Payable-Post Petition | 4,657.82 | 106,475.54 | |||
Due To/From NEXIQ Corporate | 2,536,836.81 | ||||
Due To/From NEXIQ Detroit | (2,153,901.57) | 382,935.24 | |||
Accrued Salaries | 2,431.12 | ||||
Accrued Payroll Other | 49,311.21 | 51,742.33 | |||
Total Current Liabilities | 541,153.11 | 541,153.11 | |||
Long Term Liabilities | |||||
TIF Grant | 74,000.00 | ||||
CEBA Grant | 104,372.98 | 178,372.98 | |||
Total Long Term Liabilities | 178,372.98 | 178,372.98 | |||
Total Liabilities | 719,526.09 | 719,526.09 | |||
Equity | |||||
Owner's Equity - Opening | 26,455.95 | ||||
Owner's Equity - Other | 2,862,799.32 | 2,889,255.27 | |||
Retained Earnings - DIS | (4,116,277.62 | ) | (4,116,277.62 | ) | |
Net Income | 594,624.60 | 594,624.60 | |||
(632,397.75 | ) | (632,397.75 | ) | ||
TOTAL LIABILITIES & EQUITY | 87,128.34 | 87,128.34 |
DIVERSIFIED SOFTWARE INDUSTRIES, INC. | |||
11/25/02 to | |||
Income | |||
4000-04 - Consulting-Core | 74,869.15 | ||
4000-05 - Consulting-IVIS | 20,774.43 | ||
Total Income | 95,613.58 | ||
Operating Expenses | |||
6000 - Salaries | 145,396.58 | ||
6020 - Fringes Misc | 2,860.00 | ||
6060 - Vacation | 6,326.02 | ||
6100 - FICA | 9,233.73 | ||
6110 - SUI | 1.44 | ||
6135 - Sales & Use Tax | 548.77 | ||
6220 - Rent | 8,510.89 | ||
6210 - Supplies | 336.42 | ||
6215 - Telephone | 4,325.71 | ||
6220 - Electricity | 1,057.47 | ||
6225 - Trash Disposal | 43.47 | ||
6230 - Water | 79.09 | ||
6235 - Gas | 462.91 | ||
6240 - Auto Expense | 281.05 | ||
6245 - Travel Expense | 855.74 | ||
6246 - Meals & Entertainment | 243.55 | ||
6300 - Medical Ins | 10,790.47 | ||
6310 - Disability/Life | 1,112.32 | ||
6400 - Equipment Maintenance | 2,937.45 | ||
6422 - Payroll Processing | 666.38 | ||
6430 - Building Maintenance | 447.19 | ||
6565 - Postage | 19.82 | ||
6606 - Product Development | 3,649.23 | ||
7000 - Gain/Loss on Sale of Assets | (656,756.84 | ) | |
7500 - Interest Income | (212.34 | ) | |
9000 - State Income Tax | (13,271.00 | ) | |
Total Expenses | (470,054.48 | ) | |
Net Profit (Loss) | 565,668.06 | ||
|
SUMMARY OF POST PETITION ACCOUNTS PAYABLE AGING SCHEDULE | ||||||||||
NAME OF CREDITOR | 0 - 30 | 31-60 | 61 - 90 | > 90 | BALANCE | |||||
ADP | $ | 452.25 | $ | — | $ | — | $ | — | $ | 452.25 |
Cingular Interactive | 324.30 | 324.30 | ||||||||
City of Coralville | 79.09 | 79.09 | ||||||||
Linn County REC | 1,057.47 | 1,057.47 | ||||||||
MidAmerican Energy | 517.03 | 517.03 | ||||||||
Provident | 1.84 | 1.84 | ||||||||
Sprint | 460.47 | 460.47 | ||||||||
Sprint Conferencing Services | 1,116.48 | 1,116.48 | ||||||||
Sprint PCS | 414.19 | 414.19 | ||||||||
Verizon Wireless | 234.70 | 234.70 | ||||||||
TOTALS | $ | 3,467.53 | $ | 955.59 | $ | 234.70 | $ | — | $ | 4,657.82 |
U. S. DEPARTMENT OF JUSTICE | |||||||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | |||||||||
TAXES PAYABLE SCHEDULE POST PETITION | |||||||||
Beginning | Additions | Payments/ | Ending | ||||||
Income Tax Withheld: | |||||||||
Federal | $ | — | $ | 33,393.72 | $ | (33,393.72 | ) | $ | — |
State | 0.00 | 11,779.09 | (11,779.09 | ) | 0.00 | ||||
FICA Tax Withheld | 0.00 | 11,769.98 | (11,769.98 | ) | 0.00 | ||||
Employer's FICA Tax | 0.00 | 11,772.67 | (11,772.67 | ) | 0.00 | ||||
Unemployment Tax: | |||||||||
Federal | 0.00 | 0.00 | |||||||
State | 0.00 | 1.76 | (1.76 | ) | 0.00 | ||||
Sales Use & Excise Tax | 0.00 | 548.77 | (548.77 | ) | 0.00 | ||||
Property Taxes | 0.00 | 13,561.00 | (13,561.00 | ) | 0.00 | ||||
Accrued Income Tax: | |||||||||
Federal | 0.00 | 0.00 | |||||||
State | 0.00 | (13,271.00 | ) | 13,271.00 | 0.00 | ||||
Other: | 0.00 | 0.00 | |||||||
TOTALS | $ | — | $ | 69,555.99 | $ | (69,555.99 | ) | $ | — |
TAXES PAYABLE SCHEDULE | |||||||||
Policy Expiration Date | Premium Paid Through Date | ||||||||
Workers' Compensation | 12/31/02 | 12/31/02 | |||||||
General Liability | 01/08/03 | 11/30/02 (awaiting for closeout billing) | |||||||
Property | 01/08/03 | 11/30/02 (awaiting for closeout billing) | |||||||
Vehicle | 01/08/03 | 11/30/02 (awaiting for closeout billing) | |||||||
Other (list): | |||||||||
Directors and Officers Liability | 09/30/03 | 03/31/03 | |||||||
Technology Errors & Omissions | 06/30/03 | 12/31/02 | |||||||
Crime | 01/31/03 | 01/31/03 | |||||||
U. S. DEPARTMENT OF JUSTICE | |||||||||||
Case Name: Diversified Software Industries, Inc. | |||||||||||
Case Number: 02-63998-WS | |||||||||||
CASH RECEIPTS AND DISBURSEMENTS REPORT | |||||||||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | |||||||||||
GENERAL ACCOUNT | |||||||||||
Fleet | Fleet - DIP | SFB | TOTAL | PAYROLL | TAX | ||||||
CASH ON HAND BEGINNING OF PERIOD | 0.00 | 0.00 | 0.00 | 0.00 | 300.00 | 0.00 | |||||
RECEIPTS DURING THE CURRENT PERIOD (see attached schedule) | 1,000.00 | 117,853.48 | 47,158.70 | 166,012.18 | 223,631.61 | 0.00 | |||||
Balance Available | 1,000.00 | 117,853.48 | 47,158.70 | 166,012.18 | 223,931.61 | 0.00 | |||||
DISBURSEMENTS DURING | (1,000.00 | ) | (117,853.48 | ) | (47,158.70 | ) | (166,012.18 | ) | (223,631.61 | ) | 0.00 |
CASH ON HAND | 0.00 | 0.00 | 0.00 | 0.00 | 300.00 | 0.00 | |||||
*** IMPORTANT *** | |||||||||||
Please enter the TOTAL DISBURSEMENTS from all your accounts, including cash and excluding transfers, onto the line below. This is the number that will determine your quarterly fee payment. | |||||||||||
$ | 281,715.77 | ||||||||||
U. S. DEPARTMENT OF JUSTICE UNITED STATES TRUSTEE EASTERN DISTRICT OF MICHIGAN | ||||
Case Name: Diversified Software Industries, Inc. | ||||
Case Number: 02-63998-WS | ||||
RECEIPTS LISTING | ||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | ||||
Bank: | Fleet Bank | |||
Location: | 111 Westminster Street, Providence, RI 02903 | |||
Account Name: | Nexiq Technologies Concentration Account | |||
Account Number: | 9358942298 | |||
DATE | DESCRIPTION | AMOUNT | ||
Transfer | Transfers from Nexiq Technologies to cover wire transfers | 1,000.00 | ||
TOTAL | $ | 1,000.00 | ||
Receipts may be identified by major categories. It is not necessary to list each transaction separately by name and customer or invoice number. You must, however, create a separate list for each bank account to which receipts were deposited during the month. | ||||
U. S. DEPARTMENT OF JUSTICE UNITED STATES TRUSTEE EASTERN DISTRICT OF MICHIGAN | ||||
Case Name: Diversified Software Industries, Inc. | ||||
Case Number: 02-63998-WS | ||||
RECEIPTS LISTING | ||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | ||||
Bank: | Fleet Bank | |||
Location: | 111 Westminster Street, Providence, RI 02903 | |||
Account Name: | Nexiq Technologies Debtor in Possession Concentration Account | |||
Account Number: | 9429256472 | |||
DATE | DESCRIPTION | AMOUNT | ||
11/25/02 - 12/20/02 | DSI Accounts Receivable deposit | 107,928.02 | ||
Transfer | Transfers from Nexiq Technologies to cover wire transfers | 9,925.46 | ||
TOTAL | $ | 117,853.48 | ||
Receipts may be identified by major categories. It is not necessary to list each transaction separately by name and customer or invoice number. You must, however, create a separate list for each bank account to which receipts were deposited during the month. |
U. S. DEPARTMENT OF JUSTICE UNITED STATES TRUSTEE EASTERN DISTRICT OF MICHIGAN | ||||
Case Name: Diversified Software Industries, Inc. | ||||
Case Number: 02-63998-WS | �� | |||
RECEIPTS LISTING | ||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | ||||
Bank: | Standard Federal Bank | |||
Location: | 40950 Van Dyke Avenue, Sterling Heights, MI 48313 | |||
Account Name: | Nexiq Technologies Debtor in Possession | |||
Account Number: | 3664000599 | |||
DATE | DESCRIPTION | AMOUNT | ||
Transfer | Transfer from WPI Micro Processor Systems to cover checks written | 47,158.70 | ||
TOTAL | $ | 47,158.70 | ||
Receipts may be identified by major categories. It is not necessary to list each transaction separately by name and customer or invoice number. You must, however, create a separate list for each bank account to which receipts were deposited during the month. |
U. S. DEPARTMENT OF JUSTICE UNITED STATES TRUSTEE EASTERN DISTRICT OF MICHIGAN | ||||
Case Name: Diversified Software Industries, Inc. | ||||
Case Number: 02-63998-WS | ||||
RECEIPTS LISTING | ||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | ||||
Bank: | Hawkeye State Bank | |||
Location: | 299 S. Dubuque Street, Iowa City, IA 52240 | |||
Account Name: | Diversified Software Industries Payroll Account | |||
Account Number: | 044644 | |||
DATE | DESCRIPTION | AMOUNT | ||
Transfer | Transfer from Fleet - Biweekly payroll for period ending 12/01/02 | 84,401.36 | ||
Transfer | Transfer from Fleet - Biweekly payroll for period ending 12/15/02 | 83,626.51 | ||
Transfer | Transfer from Fleet - Biweekly payroll for period ending 12/20/02 | 55,603.74 | ||
TOTAL | $ | 223,631.61 | ||
Receipts may be identified by major categories. It is not necessary to list each transaction separately by name and customer or invoice number. You must, however, create a separate list for each bank account to which receipts were deposited during the month. |
U. S. DEPARTMENT OF JUSTICE | |||||||
Case Name: Diversified Software Industries, Inc. | |||||||
Case Number: 02-63998-WS | |||||||
DISBURSEMENTS LISTING | |||||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29 2002 | |||||||
Bank: | Fleet Bank | ||||||
Location: | 111 Westminster Street, Providence, RI 02903 | ||||||
Account Name: | Nexiq Technologies Concentration Account | ||||||
Account Number: | 9358942298 | ||||||
DATE | CHECK | PAYEE | DESCRIPTION | AMOUNT | |||
12/04/02 | Wire | Motient | Software for ePOD (Capital) | 1,000.00 | |||
TOTAL | $ | 1,000.00 | |||||
You must create a separate list for each bank account from which disbursements were made during the month. | |||||||
U. S. DEPARTMENT OF JUSTICE | |||||||
Case Name: Diversified Software Industries, Inc. | |||||||
Case Number: 02-63998-WS | |||||||
DISBURSEMENTS LISTING | |||||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | |||||||
Bank: | Fleet Bank | ||||||
Location: | 111 Westminster Street, Providence, RI 02903 | ||||||
Account Name: | Nexiq Technologies Debtor in Possession Concentration Account | ||||||
Account Number: | 9429256472 | ||||||
DATE | CHECK | PAYEE | DESCRIPTION | AMOUNT | |||
11/04/02-11/22/02 | Transfer | Nexiq Technologies | Transfer - deposit comingled with other funds | 107,928.02 | |||
12/05/02 | Wire | ScanSource | Hardware for ePOD (Capital) | 9,925.46 | |||
TOTAL | $ | 117,853.48 | |||||
You must create a separate list for each bank account from which disbursements were made during the month. | |||||||
U. S. DEPARTMENT OF JUSTICE | |||||||
Case Name: Diversified Software Industries, Inc. | |||||||
Case Number: 02-63998-WS | |||||||
DISBURSEMENTS LISTING | |||||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | |||||||
Bank: | Standard Federal Bank | ||||||
Location: | 40950 Van Dyke Avenue, Sterling Heights, MI 48313 | ||||||
Account Name: | Nexiq Technologies Debtor in Possession | ||||||
Account Number: | 3664000599 | ||||||
DATE | CHECK | PAYEE | DESCRIPTION | AMOUNT | |||
11/26/02 | 1216 | ADP, INC. | PAYROLL | 16.00 | |||
11/26/02 | 1217 | ALLIANCE RESOURCES, INC. | ePOD CONTRATOR | 3,870.97 | |||
11/26/02 | 1218 | B2B FINANCIAL ADVANTAGE | CLEANING SERVICES | 236.25 | |||
11/26/02 | 1219 | CINGULAR INTERACTIVE | ANNUAL DEV FEE | 295.00 | |||
11/26/02 | 1220 | COLLINS PLAZA | DEPOSIT X-MAS PARTY | 3,500.00 | |||
11/26/02 | 1221 | DEBRA DROLL | T&E REIMBURSEMENT | 42.00 | |||
11/26/02 | 1222 | GIANT, INC. | INTERNET CONNECTION | 1,200.00 | |||
11/26/02 | 1223 | VERIZON WIRELESS | CELL PHONES | 468.99 | |||
11/26/02 | 1224 | WILLIAM CALLAHAN | T&E REIMBURSEMENT | 654.30 | |||
12/03/02 | 1263 | ADP, INC. | PAYROLL SERVICES | 224.88 | |||
12/03/02 | 1266 | DEBRA DROLL | T&E REIMBURSEMENT | 304.34 | |||
12/03/02 | 1267 | DELTA DENTAL | BENEFITS | 1,548.71 | |||
12/03/02 | 1270 | MIDAMERICAN ENGER COMP | UTILITIES - GAS | 227.28 | |||
12/03/02 | 1271 | PROVIDENT LIFE INSURANCE | BENEFITS | 498.79 | |||
12/03/02 | 1272 | RONALD STAHLBERG | T&E REIMBURSEMENT | 18.94 | |||
12/03/02 | 1273 | SHELLE YOUNGBLUT | T&E REIMBURSEMENT | 50.84 | |||
12/03/02 | 1274 | SPRINT | LONG DISTANCE CHARGES | 733.69 | |||
12/03/02 | 1275 | SPRINT PCS | CELL PHONES | 435.33 | |||
12/03/02 | 1278 | UNUM LIFE INSURANCE | BENEFITS | 1,008.05 | |||
12/03/02 | 1280 | VISION SERVICE PLAN | BENEFITS | 400.19 | |||
12/03/02 | 1281 | WELLMARK | BENEFITS | 12,558.77 | |||
12/03/02 | 1295 | VENTURE ONE LTD | IOWA DECEMBER RENT | 9,152.92 | |||
12/10/02 | 1346 | DEBRA DROLL | T&E REIMBURSEMENT | 250.00 | |||
12/10/02 | 1353 | JAMES GRIFFIN | T&E REIMBURSEMENT | 1,600.00 | |||
12/10/02 | 1355 | JANITORIAL RESOURCES | CLEANING SERVICES | 472.50 | |||
12/10/02 | 1356 | LINN COUNTY REC | ELECTRICAL SERVICES | 1,050.71 | |||
12/10/02 | 1357 | NIK NEYMEYER | T&E REIMBURSEMENT | 15.70 | |||
12/10/02 | 1360 | QWEST | T1 CONNECTION | 232.00 | |||
12/10/02 | 1363 | SOUTH SLOPE | DSI LOCAL SERVICES AND T1 | 1,487.56 | |||
12/10/02 | 1364 | SPRINT CONFERENCING SERV | TELECONFERENCING | 1,281.55 | |||
12/10/02 | 1368 | TREASURER, STATE OF IOWA | SALES AND USE TAX - Q4 | 548.77 | |||
12/10/02 | 1369 | TREASURER, JOHNSON COUNT | LICENSE RENEWAL FOR ivis | 200.50 | |||
12/10/02 | 1371 | WASTE MANAGEMENT IOWA | TRASH SERVICE | 67.38 | |||
12/10/02 | 1372 | WILLIAM CALLAHAN | T&E REIMBURSEMENT | 1,000.00 | |||
12/17/02 | 1388 | ADP, INC. | PAYROLL | 208.13 | |||
12/17/02 | 1389 | AMERICAN EXPRESS | AUTO RENTAL | 119.21 | |||
12/17/02 | 1394 | CINGULAR INTERACTIVE | E-TECH COMM | 324.30 | |||
12/17/02 | 1396 | COLLINS PLAZA | HOLIDAY PARTY EXPENSE | 30.74 | |||
12/17/02 | 1401 | DEBRA DROLL | T&E REIMBURSEMENT | 60.06 | |||
12/17/02 | 1408 | HARRY'S CUSTOM TROPHIES | HOLIDAY PARTY EXPENSE | 65.98 | |||
12/17/02 | 1417 | VERIZON WIRELESS | CELL PHONE SERVICES | 291.37 | |||
12/20/02 | 1424 | ADP, INC. | PAYROLL | 6.00 | |||
12/20/02 | 1430 | GIANT, INC. | INTERNET SERVICES | 400.00 | |||
TOTAL | $ | 47,158.70 | |||||
You must create a separate list for each bank account from which disbursements were made during the month. | |||||||
U. S. DEPARTMENT OF JUSTICE | |||||||
Case Name: Diversified Software Industries, Inc. | |||||||
Case Number: 02-63998-WS | |||||||
DISBURSEMENTS LISTING | |||||||
FOR THE PERIOD OF NOVEMBER 25, 2002 TO DECEMBER 29, 2002 | |||||||
Bank: | Hawkeye State Bank | ||||||
Location: | 299 S. Dubuque Street, Iowa City, IA 52240 | ||||||
Account Name: | Diversified Software Industries Payroll Account | ||||||
Account Number: | 044644 | ||||||
DATE | CHECK | PAYEE | DESCRIPTION | AMOUNT | |||
12/05/02 | Wires | All Employees | Payroll for Biweekly period ended 12/01/02 | 84,401.36 | |||
12/19/02 | Wires | All Employees | Payroll for Biweekly period ended 12/15/02 | 83,626.51 | |||
12/27/02 | Wires | All Employees | Payroll for Biweekly period ended 12/20/02 | 55,603.74 | |||
Wires | Hawkeye State Bank | Bank Fee |
| ||||
TOTAL | $ | 223,631.61 | |||||
You must create a separate list for each bank account from which disbursements were made during the month. | |||||||