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Exhibit 99.1
UNITED STATES BANKRUPTCY COURT
NORTHERN DISTRICT OF CALIFORNIA
In re: [CASE NAME] SONICblue Inc CASE NO. 03-51775 msj, 03-51776 msj, 03-51777 msj, 03-51778 msj
Diamond Mulimedia Systems, Inc
ReplayTV, Inc CHAPTER 11
Sensory Science Corporation MONTHLY OPERATING REPORT
(GENERAL BUSINESS CASE)
SUMMARY OF FINANCIAL STATUS
MONTH ENDED: May-03 PETITION DATE: 03/21/03
1. Debtor in possession (or trustee) hereby submits this Monthly Operating
Report on the Accrual Basis of accounting (or if checked here the Office
of the U.S. Trustee or the Court has approved the Cash Basis of Accounting
for the Debtor).
Dollars reported in $1
---
AS OF
2. ASSET AND LIABILITY STRUCTURE END OF CURRENT MONTH END OF PRIOR MONTH PETITION FILING
-------------------- ------------------ ---------------
a. Current Assets $ 88,883,374 $ 91,632,195 $ 167,641,723
-------------------- ------------------
b. Total Assets $ 88,883,374 $ 91,632,195 $ 171,565,518
-------------------- ------------------ ---------------
c. Current Liabilities $ 4,638,174 $ 1,898,972 $ 259,140,287
-------------------- ------------------
d. Total Liabilities $ 263,605,247 $ 263,749,006 $ 283,757,820
-------------------- ------------------
CUMULATIVE
3. STATEMENT OF CASH RECEIPTS & DISBURSEMENTS FOR MONTH CURRENT MONTH PRIOR MONTH (CASE TO DATE)
-------------------- ------------------ ---------------
a. Total Receipts $ 4,138,356 $ 47,928,364 $ 52,066,720
-------------------- ------------------ ---------------
b. Total Disbursements $ 2,453,629 $ 12,949,434 $ 15,403,063
-------------------- ------------------ ---------------
c. Excess (Deficiency) of Receipts Over Disbursements (a - b) $ 1,684,727 $ 34,978,930 $ 36,663,657
-------------------- ------------------ ---------------
d. Cash Balance Beginning of Month $ 38,043,814 $ 3,064,884 $ 3,064,884
-------------------- ------------------ ---------------
e. Cash Balance End of Month (c + d) $ 39,728,541 $ 38,043,814 $ 39,728,541
-------------------- ------------------ ---------------
CUMULATIVE
CURRENT MONTH PRIOR MONTH (CASE TO DATE)
-------------------- ------------------ ---------------
4. PROFIT/(LOSS) FROM THE STATEMENT OF OPERATIONS ($ 2,605,062) ($ 69,349,208) ($ 71,954,270)
-------------------- ------------------ ---------------
5. ACCOUNT RECEIVABLES (PRE AND POST PETITION) $ 298,609 $ 449,331
-------------------- ------------------
6. POST-PETITION LIABILITIES $ 4,638,174 $ 1,898,972
-------------------- ------------------
7. PAST DUE POST-PETITION ACCOUNT PAYABLES (OVER 30 DAYS) $ 0
-------------------- ------------------
AT THE END OF THIS REPORTING MONTH: YES NO
------------------ ---------------
8. Have any payments been made on pre-petition debt, other than payments in the normal
course to secured creditors or lessors? (if yes, attach listing including date of
payment, amount of payment and name of payee) X (Exhibit 1)
------------------ ---------------
9. Have any payments been made to professionals? (if yes, attach listing including date
of payment, amount of payment and name of payee) X
------------------ ---------------
10. If the answer is yes to 8 or 9, were all such payments approved by the court? X
------------------ ---------------
11. Have any payments been made to officers, insiders, shareholders, relatives? (if yes,
attach listing including date of payment, amount and reason for payment, and name of
payee) X (Exhibit 2)
------------------ ---------------
12. Is the estate insured for replacement cost of assets and for general liability? X
------------------ ---------------
13. Are a plan and disclosure statement on file? X
------------------ ---------------
14. Was there any post-petition borrowing during this reporting period? X
------------------ ---------------
15. Check if paid: Post-petition taxes [X] ; U.S. Trustee Quarterly Fees [X] ;
Check if filing is current for: Post-petition tax reporting and tax returns: [X] .
(Attach explanation, if post-petition taxes or U.S. Trustee Quarterly Fees are not paid current or if post-petition tax
reporting and tax return filings are not current.)
I declare under penalty of perjury I have reviewed the above summary and
attached financial statements, and after making reasonable inquiry believe these
documents are correct.
Date: June 18, 2003 /s/ Marcus Smith
------------- ------------------------------------------
Responsible Individual
BALANCE SHEET
(GENERAL BUSINESS CASE)
FOR THE MONTH ENDED 05/31/03
ASSETS
FROM SCHEDULES MARKET VALUE
-------------------- ------------------
CURRENT ASSETS
1 Cash and cash equivalents - unrestricted $ 38,108,688
------------------
2 Cash and cash equivalents - restricted $ 1,619,853
------------------
3 Accounts receivable (net) A $ 298,609
------------------
4 Inventory B $ 495,000
------------------
5 Prepaid expenses $ 1,129,466
------------------
6 Professional retainers
------------------
7 Other: UMC Investment @ FMV $ 47,231,758
------------------
8 Patents_________________________________ unknown
------------------
9 TOTAL CURRENT ASSETS $ 88,883,374
------------------
PROPERTY AND EQUIPMENT (MARKET VALUE)
10 Real property C $ 0
------------------
11 Machinery and equipment D $ 0
------------------
12 Furniture and fixtures D $ 0
------------------
13 Office equipment D $ 0
------------------
14 Leasehold improvements D $ 0
------------------
15 Vehicles D $ 0
------------------
16 Other:__________________________________ D
------------------
17 ________________________________________ D
------------------
18 ________________________________________ D
------------------
19 ________________________________________ D
------------------
20 ________________________________________ D
------------------
21 TOTAL PROPERTY AND EQUIPMENT $ 0
------------------
OTHER ASSETS
22 Loans to shareholders
------------------
23 Loans to affiliates
------------------
24 ________________________________________
------------------
25 ________________________________________
------------------
26 ________________________________________
------------------
27 ________________________________________
------------------
28 TOTAL OTHER ASSETS $ 0
------------------
29 TOTAL ASSETS $ 88,883,374
==================
NOTE:
Indicate the method used to estimate the market value of assets (e.g.,
appraisals; familiarity with comparable market prices, etc.) and the date
the value was determined.
LIABILITIES AND EQUITY
(GENERAL BUSINESS CASE)
LIABILITIES FROM SCHEDULES
POST-PETITION
CURRENT LIABILITIES
30 Salaries and wages $ 4,167
---------------
31 Payroll taxes
---------------
32 Real and personal property taxes
---------------
33 Income taxes
---------------
34 Sales taxes
---------------
35 Notes payable (short term)
---------------
36 Accounts payable (trade) A $ 829,483
---------------
37 Real property lease arrearage
---------------
38 Personal property lease arrearage
---------------
39 Accrued professional fees
---------------
40 Current portion of long-term post-petition debt (due within 12 months)
---------------
41 Other: Payable to acquirer of sold/discontinued product lines $ 3,804,524
---------------
42 _____________________________________________________
---------------
43 _____________________________________________________
---------------
44 TOTAL CURRENT LIABILITIES $ 4,638,174
---------------
45 LONG-TERM POST-PETITION DEBT, NET OF CURRENT PORTION
---------------
46 TOTAL POST-PETITION LIABILITIES $ 4,638,174
---------------
PRE-PETITION LIABILITIES (ALLOWED AMOUNT)
47 Secured claims F $ 0
---------------
48 Priority unsecured claims F $ 0
---------------
49 General unsecured claims F $ 0
---------------
50 TOTAL PRE-PETITION LIABILITIES $ 258,967,073
---------------
51 TOTAL LIABILITIES $ 263,605,247
---------------
EQUITY (DEFICIT)
52 Retained Earnings/(Deficit) at time of filing ($ 644,469,546)
---------------
53 Capital Stock $ 419,094,388
---------------
54 Additional paid-in capital $ 156,761,274
---------------
55 Cumulative profit/(loss) since filing of case ($ 71,954,270)
---------------
56 Post-petition contributions/(distributions) or (draws)
---------------
57 ______________________________________________________________
---------------
58 Market value adjustment (UMC mark to market) ($ 34,153,719)
---------------
59 TOTAL EQUITY (DEFICIT) ($ 174,721,873)
---------------
60 TOTAL LIABILITIES AND EQUITY (DEFICIT) $ 88,883,374
===============
SCHEDULES TO THE BALANCE SHEET
(GENERAL BUSINESS CASE)
SCHEDULE A
ACCOUNTS RECEIVABLE AND (NET) PAYABLE
RECEIVABLES AND PAYABLES AGINGS ACCOUNTS RECEIVABLE ACCOUNTS PAYABLE PAST DUE
[PRE AND POST PETITION] [POST PETITION] POST PETITION DEBT
0 -30 Days $ 35,237 $829,483
---------------------- ---------------
31-60 Days $ 177,200
---------------------- ---------------
61-90 Days $ 172,061 $0
---------------------- --------------- -------------------
91+ Days $ 895,097
---------------------- ---------------
Total accounts receivable/payable $1,279,595 $829,483
---------------------- ===============
Allowance for doubtful accounts $ 980,986
----------------------
Accounts receivable (net) $ 298,609
======================
SCHEDULE B
INVENTORY/COST OF GOODS SOLD
TYPES AND AMOUNT OF INVENTORY(IES)
INVENTORY(IES)
BALANCE AT
END OF MONTH
Retail/Restaurants -
Product for resale $495,000
-------------
Distribution -
Products for resale
-------------
Manufacturer -
Raw Materials
-------------
Work-in-progress
-------------
Finished goods
-------------
Other - Explain
-------------
-----------------------------
-----------------------------
TOTAL $495,000
=============
METHOD OF INVENTORY CONTROL
Do you have a functioning perpetual inventory system?
Yes [X] No [ ]
How often do you take a complete physical inventory?
Weekly
---
Monthly
---
Quarterly
---
Semi-annually
---
Annually X
---
Date of last physical inventory was 12/31/02 0:00
-------------------
Date of next physical inventory is n/a
-------------------
COST OF GOODS SOLD
INVENTORY BEGINNING OF MONTH $495,000
-------------
Add -
Net purchase
-------------
Direct labor
-------------
Manufacturing overhead
-------------
Freight in
-------------
Other:
-------------
$ 0
----------------------------- -------------
----------------------------- -------------
Less -
Inventory End of Month $495,000
-------------
Shrinkage
-------------
Personal Use
-------------
Cost of Goods Sold $ 0
=============
INVENTORY VALUATION METHODS
Indicate by a checkmark method of inventory used.
Valuation methods -
FIFO cost X
---
LIFO cost
---
Lower of cost or market X
---
Retail method
---
Other
---
Explain
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
SCHEDULE C
REAL PROPERTY
Description COST MARKET VALUE
---------------------------------------------- --------------------- -------------------------
---------------------------------------------- --------------------- -------------------------
---------------------------------------------- --------------------- -------------------------
---------------------------------------------- --------------------- -------------------------
---------------------------------------------- --------------------- -------------------------
---------------------------------------------- --------------------- -------------------------
Total $0 $0
===================== =========================
SCHEDULE D
OTHER DEPRECIABLE ASSETS
Description COST MARKET VALUE
---- ------------
Machinery & Equipment -
---------------------------------------------- --------------------- -------------------------
---------------------------------------------- --------------------- -------------------------
---------------------------------------------- --------------------- -------------------------
---------------------------------------------- --------------------- -------------------------
Total $0 $0
===================== =========================
Furniture & Fixtures -
---------------------------------------------- --------------------- -------------------------
---------------------------------------------- --------------------- -------------------------
---------------------------------------------- --------------------- -------------------------
---------------------------------------------- --------------------- -------------------------
Total $0 $0
===================== =========================
Office Equipment -
---------------------------------------------- --------------------- -------------------------
---------------------------------------------- --------------------- -------------------------
---------------------------------------------- --------------------- -------------------------
Total $0 $0
===================== =========================
Leasehold Improvements -
---------------------------------------------- --------------------- -------------------------
---------------------------------------------- --------------------- -------------------------
---------------------------------------------- --------------------- -------------------------
---------------------------------------------- --------------------- -------------------------
Total $0 $0
===================== =========================
Vehicles -
---------------------------------------------- --------------------- -------------------------
---------------------------------------------- --------------------- -------------------------
---------------------------------------------- --------------------- -------------------------
---------------------------------------------- --------------------- -------------------------
Total $0 $0
===================== =========================
STATEMENT OF OPERATIONS
(GENERAL BUSINESS CASE)
For the Month Ended 05/31/03
----------
CURRENT MONTH
- -------------------------------------------
ACTUAL FORECAST VARIANCE CUMULATIVE NEXT MONTH
(CASE TO DATE) FORECAST
REVENUES:
$0 $0 1 Gross Sales $7,242,256
- ------------- ------------- ------------ ------------------ ----------------
$0 $0 2 less: Sales Returns & Allowances $4,063,280
- ------------- ------------- ------------ ------------------ ----------------
$0 $0 $0 3 Net Sales $3,178,976 $0
- ------------- ------------- ------------ ------------------ ----------------
$0 $0 4 less: Cost of Goods Sold (Schedule 'B') $2,236,107
- ------------- ------------- ------------ ------------------ ----------------
$0 $0 $0 5 Gross Profit $942,869 $0
- ------------- ------------- ------------ ------------------ ----------------
$0 6 Interest $0
- ------------- ------------- ------------ ------------------ ----------------
$0 7 Other Income: $150,226
- ------------- ------------- ------------ ------------------------ ------------------ ----------------
$0 8 $0
- ------------- ------------- ------------ ----------------------------------------- ------------------ ----------------
$0 9 $0
- ------------- ------------- ------------ ----------------------------------------- ------------------ ----------------
$0 $0 $0 10 TOTAL REVENUES $1,093,095 $0
- ------------- ------------- ------------ ------------------ ----------------
EXPENSES:
$53,692 ($53,692) 11 Compensation to Owner(s)/Officer(s) $263,365
- ------------- ------------- ------------ ------------------ ----------------
$26,743 ($26,743) 12 Salaries $1,240,102
- ------------- ------------- ------------ ------------------ ----------------
$0 13 Commissions $0
- ------------- ------------- ------------ ------------------ ----------------
$7,893 ($7,893) 14 Contract Labor $107,058
- ------------- ------------- ------------ ------------------ ----------------
Rent/Lease:
$0 $0 15 Personal Property $7,350
- ------------- ------------- ------------ ------------------ ----------------
$0 16 Real Property $0
- ------------- ------------- ------------ ------------------ ----------------
$2,246,049 ($2,246,049) 17 Insurance $2,413,575
- ------------- ------------- ------------ ------------------ ----------------
$0 18 Management Fees $0
- ------------- ------------- ------------ ------------------ ----------------
$0 $0 19 Depreciation $159,065
- ------------- ------------- ------------ ------------------ ----------------
Taxes:
$60,680 ($60,680) 20 Employer Payroll Taxes $289,493
- ------------- ------------- ------------ ------------------ ----------------
$0 $0 21 Real Property Taxes $12,760
- ------------- ------------- ------------ ------------------ ----------------
$0 $0 22 Other Taxes $2,915
- ------------- ------------- ------------ ------------------ ----------------
$0 $0 23 Other Selling $931,305
- ------------- ------------- ------------ ------------------ ----------------
$1,951 ($1,951) 24 Other Administrative $253,871
- ------------- ------------- ------------ ------------------ ----------------
$0 $0 25 Interest $777,750
- ------------- ------------- ------------ ------------------ ----------------
$0 $0 26 Other Expenses: amortization $1,461,364
- ------------- ------------- ------------ ----------------------- ------------------ ----------------
$0 27 $0
- ------------- ------------- ------------ ----------------------------------------- ------------------ ----------------
$0 28 $0
- ------------- ------------- ------------ ----------------------------------------- ------------------ ----------------
$0 29 $0
- ------------- ------------- ------------ ----------------------------------------- ------------------ ----------------
$0 30 $0
- ------------- ------------- ------------ ----------------------------------------- ------------------ ----------------
$0 31 $0
- ------------- ------------- ------------ ----------------------------------------- ------------------ ----------------
$0 32 $0
- ------------- ------------- ------------ ----------------------------------------- ------------------ ----------------
$0 33 $0
- ------------- ------------- ------------ ----------------------------------------- ------------------ ----------------
$0 34 $0
- ------------- ------------- ------------ ----------------------------------------- ------------------ ----------------
$2,397,008 $0 ($2,397,008) 35 TOTAL EXPENSES $7,919,973 $0
- ------------- ------------- ------------ ------------------ ----------------
($2,397,008) $0 ($2,397,008) 36 SUBTOTAL ($6,826,878) $0
- ------------- ------------- ------------ ------------------ ----------------
REORGANIZATION ITEMS:
($1,613,294) $1,613,294 37 Professional Fees ($2,168,294)
- ------------- ------------- ------------ ------------------ ----------------
$0 38 Provisions for Rejected Executory Contracts $0
- ------------- ------------- ------------ ------------------ ----------------
$2,876 $2,876 39 Interest Earned on Accumulated Cash from $3,855
- ------------- ------------- ------------ ------------------ ----------------
Resulting Chp 11 Case $0
------------------
$1,402,364 $1,402,364 40 Gain or (Loss) from Sale of Equipment ($62,957,203)
- ------------- ------------- ------------ ------------------ ----------------
$0 $0 41 U.S. Trustee Quarterly Fees ($5,750)
- ------------- ------------- ------------ ------------------ ----------------
$0 42 $0
- ------------- ------------- ------------ ----------------------------------------- ------------------ ----------------
($208,054) $0 ($208,054) 43 TOTAL REORGANIZATION ITEMS ($65,127,392) $0
- ------------- ------------- ------------ ------------------ ----------------
($2,605,062) $0 ($2,605,062) 44 NET PROFIT (LOSS) BEFORE FEDERAL & STATE TAXES ($71,954,270) $0
- ------------- ------------- ------------ ------------------ ----------------
$0 45 Federal & State Income Taxes
- ------------- ------------- ------------ ------------------ ----------------
($2,605,062) $0 ($2,605,062) 46 NET PROFIT (LOSS) ($71,954,270) $0
============= ============= ============ ================== ================
Attach an Explanation of Variance to Statement of Operations (For variances
greater than +/- 10% only):
SCHEDULE E
AGING OF POST-PETITION TAXES
(AS OF END OF THE CURRENT REPORTING PERIOD)
TAXES PAYABLE 0-30 DAYS 31-60 DAYS 61-90 DAYS 91+ DAYS TOTAL
--------- ---------- ---------- -------- -----
FEDERAL
Income Tax Withholding $0
------------ ------------ ----------- ----------- -----------
FICA - Employee $0
------------ ------------ ----------- ----------- -----------
FICA - Employer $0
------------ ------------ ----------- ----------- -----------
Unemployment (FUTA) $0
------------ ------------ ----------- ----------- -----------
Income $0
------------ ------------ ----------- ----------- -----------
Other (Attach List) $0
------------ ------------ ----------- ----------- -----------
TOTAL FEDERAL TAXES $0 $0 $0 $0 $0
------------ ------------ ----------- ----------- -----------
STATE AND LOCAL
Income Tax Withholding $0
------------ ------------ ----------- ----------- -----------
Unemployment (UT) $0
------------ ------------ ----------- ----------- -----------
Disability Insurance (DI) $0
------------ ------------ ----------- ----------- -----------
Empl. Training Tax (ETT) $0
------------ ------------ ----------- ----------- -----------
Sales $0
------------ ------------ ----------- ----------- -----------
Excise $0
------------ ------------ ----------- ----------- -----------
Real property $0
------------ ------------ ----------- ----------- -----------
Personal property $0
------------ ------------ ----------- ----------- -----------
Income $0
------------ ------------ ----------- ----------- -----------
Other (Attach List) $0
------------ ------------ ----------- ----------- -----------
TOTAL STATE & LOCAL TAXES $0 $0 $0 $0 $0
------------ ------------ ----------- ----------- -----------
TOTAL TAXES $0 $0 $0 $0 $0
============ ============ =========== =========== ===========
SCHEDULE F
PRE-PETITION LIABILITIES
LIST TOTAL CLAIMS FOR EACH CLASSIFICATION - CLAIMED ALLOWED
AMOUNT AMOUNT (B)
------ ----------
Secured claims (a)
----------- -----------
Priority claims other than taxes
----------- -----------
Priority tax claims
----------- -----------
General unsecured claims
----------- -----------
(a) List total amount of claims even it under secured.
(b) Estimated amount of claim to be allowed after compromise or
litigation. As an example, you are a defendant in a lawsuit
alleging damage of $10,000,000 and a proof of claim is filed in
that amount. You believe that you can settle the case for a claim
of $3,000,000. For Schedule F reporting purposes you should list
$10,000,000 as the Claimed Amount and $3,000,000 as the Allowed
Amount.
SCHEDULE G
RENTAL INCOME INFORMATION
NOT APPLICABLE TO GENERAL BUSINESS CASES
SCHEDULE H
RECAPITULATION OF FUNDS HELD AT END OF MONTH
ACCOUNT 1 ACCOUNT 2 ACCOUNT 3 ACCOUNT 4
--------- --------- --------- ---------
Bank
------------ ------------ ----------- -----------
Account Type
------------ ------------ ----------- -----------
Account No.
------------ ------------ ----------- -----------
Account Purpose
------------ ------------ ----------- -----------
Balance, End of Month
------------ ------------ ----------- -----------
Total Funds on Hand for all Accounts $0
============
Attach copies of the month end bank statement(s), reconciliation(s), and the
check register(s) to the Monthly Operating Report.
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS
FOR THE MONTH ENDED_____________
Actual Cumulative
Current Month (Case to Date)
---------------- --------------
CASH RECEIPTS
1 Rent/Leases Collected
---------------- ---------------
2 Cash Received from Sales $0
---------------- ---------------
3 Interest Received $0
---------------- ---------------
4 Borrowings
---------------- ---------------
5 Funds from Shareholders, Partners, or Other Insiders
---------------- ---------------
6 Capital Contributions
---------------- ---------------
7
--------------------------------------------- ---------------- ---------------
8
--------------------------------------------- ---------------- ---------------
9
--------------------------------------------- ---------------- ---------------
10
--------------------------------------------- ---------------- ---------------
11
--------------------------------------------- ---------------- ---------------
12 TOTAL CASH RECEIPTS $0 $0
---------------- ---------------
CASH DISBURSEMENTS
13 Payments for Inventory 0
---------------- ---------------
14 Selling $0
---------------- ---------------
15 Administrative $0
---------------- ---------------
16 Capital Expenditures
---------------- ---------------
17 Principal Payments on Debt
---------------- ---------------
18 Interest Paid $0
---------------- ---------------
Rent/Lease:
19 Personal Property
---------------- ---------------
20 Real Property
Amount Paid to Owner(s)/Officer(s) ---------------- ---------------
21 Salaries
---------------- ---------------
22 Draws
---------------- ---------------
23 Commissions/Royalties
---------------- ---------------
24 Expense Reimbursements
---------------- ---------------
25 Other
---------------- ---------------
26 Salaries/Commissions (less employee withholding)
---------------- ---------------
27 Management Fees
---------------- ---------------
Taxes:
28 Employee Withholding
---------------- ---------------
29 Employer Payroll Taxes
---------------- ---------------
30 Real Property Taxes
---------------- ---------------
31 Other Taxes
---------------- ---------------
32 Other Cash Outflows:
---------------- ---------------
33
----------------------------------------- ---------------- ---------------
34
----------------------------------------- ---------------- ---------------
35
----------------------------------------- ---------------- ---------------
36
----------------------------------------- ---------------- ---------------
37
----------------------------------------- ---------------- ---------------
38 TOTAL CASH DISBURSEMENTS: $0 $0
---------------- ---------------
39 NET INCREASE (DECREASE) IN CASH $0 $0
---------------- ---------------
40 CASH BALANCE, BEGINNING OF PERIOD
---------------- ---------------
41 CASH BALANCE, END OF PERIOD $0 $0
================ ===============
STATEMENT OF CASH FLOWS
(OPTIONAL) INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS
FOR THE MONTH ENDED 05/31/03
--------
CASH FLOWS FROM OPERATING ACTIVITIES ACTUAL CUMULATIVE
CURRENT MONTH (CASE TO DATE)
------------- --------------
1 Cash Received from Sales $321,956 $5,868,677
---------------- -------------------
2 Rent/Leases Collected $0
---------------- -------------------
3 Interest Received $0
---------------- -------------------
4 Cash Paid to Suppliers $226,886 $1,539,489
---------------- -------------------
5 Cash Paid for Selling Expenses $138,852 $789,370
---------------- -------------------
6 Cash Paid for Administrative Expenses $137,975 $181,555
---------------- -------------------
Cash Paid for Rents/Leases: $0
-------------------
7 Personal Property $0 $28,009
---------------- -------------------
8 Real Property $0 $29,009
---------------- -------------------
9 Cash Paid for Interest $0
---------------- -------------------
10 Cash Paid for Net Payroll and Benefits $107,062 $1,367,797
---------------- -------------------
Cash Paid to Owner(s)/Officer(s) $0
-------------------
11 Salaries $53,692 $263,365
---------------- -------------------
12 Draws $0
---------------- -------------------
13 Commissions/Royalties $0
---------------- -------------------
14 Expense Reimbursements $0
---------------- -------------------
15 Other $0
---------------- -------------------
Cash Paid for Taxes Paid/Deposited to Tax Acct. $0
-------------------
16 Employer Payroll Tax $60,680 $153,502
---------------- -------------------
17 Employee Withholdings $0
---------------- -------------------
18 Real Property Taxes $0
---------------- -------------------
19 Other Taxes $22,712 $22,712
---------------- -------------------
20 Cash Paid for General Expenses $156,186 $606,354
---------------- -------------------
21 Rebates $0 $600,459
--------------------------------------------------------- ---------------- -------------------
22
--------------------------------------------------------- ---------------- -------------------
23
--------------------------------------------------------- ---------------- -------------------
24
--------------------------------------------------------- ---------------- -------------------
25
--------------------------------------------------------- ---------------- -------------------
26
--------------------------------------------------------- ---------------- -------------------
27 NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES BEFORE
REORGANIZATION ITEMS ($582,089) $287,056
---------------- -------------------
CASH FLOWS FROM REORGANIZATION ITEMS
28 Interest Received on Cash Accumulated Due to Chp 11 Case $2,876 $3,855
---------------- -------------------
29 Professional Fees Paid for Services in Connection with Chp 11 Case $108,208 $2,213,208
---------------- -------------------
30 U.S. Trustee Quarterly Fees $0 $5,750
---------------- -------------------
31A KERP/PTO & Severance payments $1,441,376 $3,000,000
---------------- -------------------
31B Net cash (received)/paid related to sold/discontinued product lines ($3,804,524) ($3,804,524)
--------------------------------------------------------- ---------------- -------------------
32 NET CASH PROVIDED (USED) BY REORGANIZATION ITEMS $2,257,816 ($1,410,579)
---------------- -------------------
33 NET CASH PROVIDED (USED) FOR OPERATING ACTIVITIES AND REORGANIZATION ITEMS $1,675,727 ($1,123,523)
---------------- -------------------
CASH FLOWS FROM INVESTING ACTIVITIES
34 Capital Expenditures $0
---------------- -------------------
35 Proceeds from Sales of Capital Goods due to Chp 11 Case $9,000 $42,389,664
---------------- -------------------
36 $0
--------------------------------------------------------- ---------------- -------------------
37 NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES $9,000 $42,389,664
---------------- -------------------
CASH FLOWS FROM FINANCING ACTIVITIES
38 Net Borrowings (Except Insiders) $0
---------------- -------------------
39 Net Borrowings from Shareholders, Partners, or Other Insiders $0
---------------- -------------------
40 Capital Contributions $0
---------------- -------------------
41 Principal Payments $0 $4,602,484
---------------- -------------------
42 $0
--------------------------------------------------------- ---------------- -------------------
43 NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES $0 ($4,602,484)
---------------- -------------------
44 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS $1,684,727 $36,663,657
---------------- -------------------
45 CASH AND CASH EQUIVALENTS AT BEGINNING OF MONTH $38,043,814 $3,064,884
---------------- -------------------
46 CASH AND CASH EQUIVALENTS AT END OF MONTH $39,728,541 $39,728,541
================ ===================
Exhibit 1
---------
SONICblue
Pre-petition Payments
May 2003
Vendor Name Amount Date
- ----------- ------ ----
WINDRIVER 179,030.31 5/16/03
1ST ROCKY MOUNTIAN SALES 14,458.21 5/29/03
CORSAN MARKETING 331.47 5/29/03
CURRENT SALES/CHRIS-TEC MKTG 544.80 5/29/03
IRA KAYE DBA KAYE & ASSOCIATES 5,397.76 5/29/03
JAY F. SCHUDE ASSOCIATES INC. 1,139.19 5/29/03
L. P. HENCH 3,334.95 5/29/03
LIENAU ASSOCIATES INC 523.71 5/29/03
ORIGINAL MARKETING CPTS INC. 692.34 5/29/03
ORION ADVANCED MARKETING 4,177.59 5/29/03
ROBIN MCSURLEY 3,838.89 5/29/03
SELECT SALES INC 11,001.34 5/29/03
SOUTHEASTERN SALES ASSOC. 128.87 5/29/03
SOUTHWEST INCENTIVES INC. 2,431.44 5/29/03
TOTAL MARKET SALES 4,573.04 5/29/03
TRENT PARTNERS 3,419.16 5/29/03
VENTURE SALES & MARKETING 0.42 5/29/03
Exhibit 2
SONICblue, Inc
Payments to Officers regular Salary
-----------------------------------------------------
Name 5/16/03 5/30/03 Total
-----------------------------------------------------
Gershon, David
Smith, Marcus $20,000.00 $20,000.00 $40,000.00
---------- ----------
Total
========== ==========