EXHIBIT 99.15
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OFFICE OF THE UNITED STATES TRUSTEE
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IN RE: ) DEBTOR IN POSSESSION OPERATING REPORT
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)
)REPORT NUMBER 15 Page 1 of 3
) FOR THE PERIOD FROM: June 1, 2001
MATTHEWS STUDIO EQUIPMENT GROUP & SUBSIDIARIES) TO: June 30, 2001
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CHAPTER 11 CASE NO. SV00-13471KL )
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SEE ATTACHED
1. Profit and Loss Statement
A. Related to Business Operations:
Gross Sales ______________
Less Sales Returns and Discounts ______________
Net Sales ______________
Less: Cost of Goods Sold
Beginning Inventory at Cost ______________
Add: Purchases ______________
Less: Ending Inventory at Cost ______________
Cost of Goods Sold ______________
Gross Profit _____________
Other Operating Revenue (Specify) _____________
Less: Operating Expenses
Officer Compensation ______________
Salaries & Wages - Other Employees ______________
Total Salaries & Wages ______________
Employee Benefits ______________
Payroll Taxes ______________
Real Estate Taxes (Personal Property Tax) ______________
Federal and State Income Taxes ______________
Total Taxes ______________
Rent and Lease Exp. (Real and Personal Property ______________
Interest Expense (Mortgage, Loan, etc.) ______________
Insurance ______________
Automobile Expense ______________
Utilities (Gas, Electric, Water, Telephone, etc.) ______________
Depreciation and Amortization ______________
Repairs and Maintenance ______________
Advertising ______________
Supplies, Office Expenses, Photocopies, etc. ______________
Bad Debts ______________
Miscellaneous Operating Expenses (Specify ____________________________________
Total Operating Expenses _____________
Net Gain/(Loss) from Business Operations _____________
B. Not Related to Business Operations
Income:
Interest Income ______________
Other Non-Operating Revenues (Specify) ______________
Gross Proceeds on Sale of Assets ______________
Less: Original Cost of Assets plus Expense ______________
Net Gain/(Loss) on Sale of Assets ______________
Total Non-Operating Income
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Expenses Not Related to Business Operation
Legal and Professional Fees ______________
Other Non-Operating Expenses (Specify) ______________
Total Non-Operating Expenses _____________
NET INCOME /(LOSS) FOR PERIOD =============
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Revised April 1989 OPERATING REPORT UST-4
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MATTHEWS STUDIO EQUIPMENT GROUP & SUBSIDIARIES
Statement of Operations for the Period June 30, 01
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($000's)
REVENUES
Sales -
Rental revenues -
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Total revenues -
Cost of goods sold -
Cost of rental operation -
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Total cost of sales and rental -
Gross profits -
Selling expense -
General & administration (65)
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Total operating expenses (65)
Operating profit 65
Depreciation & amortization -
Coporate Interest allocation -
DIP Interest -
Other income & expenses -
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Earnings before reorganization items & income tax provision 65
Reorganization items:
Loss from sales of assets/Closing cost of facility 5,124
Professional fees -
Provision for rejected executory contracts -
Interest earned on accumulated cash resulting from chapter 11 Proceeding (29)
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Total reorganization items 5,095
Income(loss) before income tax provision (5,030)
Income tax (benefits) -
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Net income (loss) (5,030)
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DEBTOR IN POSSESSION OPERATING REPORT NO. 15
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Page 2 of 3
2. Aging of Accounts Payable and Receivable (exclude pre-petition debt from
accounts payable):
Accounts Payable Accounts Receivable
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Current Under 30 days $0 $ 0
Overdue 31 - 60 days $0 $ 0
Overdue 61 - 90 days $0 $ 0
Overdue 91 - 120 days $0 $ 0
Overdue 121 + days $0 $1,013,328
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Total $0 $1,013,328
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3. Statement of Status of Payments to Secured Creditors and Lessors: SEE
ATTACHED
Post-Petition
Frequency of Payments Not Made
Payments per Amount of -------------------------------
Creditor/Lessor Lease/Contract Each Payment Next Payment Due Number Amount
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4. Tax Liability:
Gross Payroll Expense For Period $0 *SEE NOTE
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Gross Sales for Period Subject to Sales Tax $0
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Post Petition Taxes
Date Paid Amount Paid* Still Owing
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Federal Payroll and Withholding Taxes $0 $0
State Payroll and Withholding Taxes $0 $0
State Sales and Use Tax $0 $0
Real Property Taxes $0 $0
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* Attach photocopies of depository receipts from taxing authority
or financial institution to verify that such deposits or payments have
been made.
5. Insurance Coverage
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Carrier/ Amount of Policy Premium Paid
Agent Coverage Exp. Date Thru Date
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Worker's Compensation GULF INS CO 10/1/01 10/1/01
Liability GULF INS CO SEE 10/1/01 10/1/01
Fire and Extended Coverage GULF INS CO ATTACHED 10/1/01 10/1/01
Property GULF INS CO (Not filed with Form 8K) 10/1/01 10/1/01
Theft CNA 10/1/01 10/1/01
Life (Beneficiary:________________) TRANSAMERICA
Vehicle GULF INS CO 10/1/01 10/1/01
Other INSURANCE WEST 10/1/01 10/1/01
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*NOTE: PAYROLL IS PAID BY MATTHEWS STUDIO EQUIPMENT GROUP, AND IS ALLOCATED TO
THE SUBSIDIARY INCURRING THE PAYROLL EXPENSE. ALL PAYROLL TAXES ARE PAID BY ADP
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MATTHEWS STUDIO EQUIPMENT GROUP & SUBSIDIARIES
SECURED CREDITORS AND LESSORS
JUNE 30, 2001 CREDIT FACILITY
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MONTHLY UNPAID
BINDER TAB DESCRIPTION COMPANY PAYMENT POST PETITION
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CRF98 39 IBM Credit Corp - AS400/JBA Software Group 7,866 7,866
V 85 Xerox - Copier #C0H-010403 Group - Acct 558 0
CRF98 40 Pitney Bowes - Postage meter Four Star 167 0
CRF98 12 Minolta Copier Corp - Copier/Fax Four Star 264 0
CRF98 11 30 Warren Place Corp (NY rent) Four Star 20,190 0
CRF98 11A 718 S. Fulton Ave (NY Storage) Four Star 6,875 0
DEBTOR IN POSSESSION OPERATING REPORT NO. 15
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Page 3 of 3
6. Questions:
A. Has the Debtor provided to any officers, directors, shareholders, or other
principals compensation without the approval of the Office of the United
States Trustee?
_____ : Yes Explain: _______________________________________________________
X :No
B. Has the Debtor, subsequent to the filing of the petition made any payments
on its pre-petition unsecured debt, except as have been authorized by the
Court?
_____ : Yes Explain: _______________________________________________________
X : No
7. Statement of Unpaid Professional Fees (Post-Petition Only):
Name of Type Post-Petition
Professional Professional Unpaid Total**
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Crossroads, LLC Turnaround management - Estimated
George Nicolais Financial advisor 5,559 Estimated
Klee Tuchin Bogdanoff & Stern Counsel 67,982 Estimated
Latham Watkins Counsel -
Stutman Treister Counsel 29,866 Estimated
Imperial Capital, LLC Financial advisor -
Holland & Knight Counsel 61,257 Estimated
Ernst & Young Independent Auditors -
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**NOTE: Professional fees are paid by Matthews Studio Equipment Group
for all the subsidiaries.
8. Narrative Report of Significant Events And Events Out Of The Ordinary Course
Of Business:
N/A
9. Quarterly Fees: (This Fee must be paid to the United States Trustee every
calendar quarter)
Quarterly
Quarterly Disbursements Quarterly Quarterly
Period Ending for Quarter Fee Date Paid Amount Paid Check No. Fee Still Owing
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6/30/00 $ 7,108,942.00 $24,500.00 7/31/00 $24,500.00 2408
9/30/00 $ 7,208,343.00 $21,500.00 10/24/00 $21,500.00 1395
12/31/00 $ 7,053,994.00 $21,000.00 1/26/01 $21,000.00 1543
3/31/01 $ 5,307,500.00 $18,250.00 4/27/01 $18,250.00 1643
6/30/01 $11,171,217.00 $16,250.00 7/26/01 $16,250.00 1710
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I, Ellen Gordon, Estate Representative, declare under penalty of perjury that
the information contained in the above Debtor in Possession Operating Report is
true and complete to the best of my knowledge.
Dated: July 27, 2001 Signed: /s/ Ellen Gordon
PAGE 1
OFFICE OF THE UNITED STATES TRUSTEE
CENTRAL DISTRICT OF CALIFORNIA
IN RE: ) DEBTOR IN POSSESSION INTERIM STATEMENT
)
)
Matthews Studio Equipment Group ) STATEMENT NO. 15
) FOR THE PERIOD FROM: 06/01/01
DEBTOR ) TO: 06/30/01
)
CHAPTER 11 CASE NO. SV 00 13471 KL ) General Concentration Payroll Tax Pre-Chapter
Account Account Account Account Payroll
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CASH ACTIVITY ANALYSIS
A. Total Receipts Per All Prior Interim Statements $30,801,684.77 $24,297,784.89 $294,606.93 $0.00 $5,853,194.94
B. Less: Total Disbursements Per All Prior $30,801,684.77 $23,499,772.40 $294,606.93 $0.00 $5,847,276.54
Interim Statements
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C. Beginning Balance $ 0.00 $ 798,012.49 $ 0.00 $0.00 $ 5,918.40
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D. Receipts During Current Period
Per Attached Schedule (Not filed with Form 8K) $ 4,494,018.94 $ 547,457.74 $ 0.00 $0.00 -
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E. Balance Available $ 4,494,018.94 $ 1,345,470.23 $ 0.00 $0.00 $ 5,918.40
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F. Less: Disbursements During Period
Per Attached Schedule (Not filed with Form 8K) $ 4,494,018.94 $ 358,273.04 $ 0.00 $0.00 287.83
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G. Ending Balance $ 0.00 $ 987,197.19 $ 0.00 $0.00 $ 5,630.57
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Investment Professional CD 5-Month CD
Account Account Account Account
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CASH ACTIVITY ANALYSIS
A. Total Receipts Per All Prior Interim Statements $4,358,559.85 $3,085,544.19 $355,957.03 $14,287,188.95
B. Less: Total Disbursements Per All Prior $3,532,457.27 $3,085,544.19 $355,957.03 $ 4,726,668.06
Interim Statements
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C. Beginning Balance $ 826,102.58 $ 0.00 $ 0.00 $ 9,560,520.89
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D. Receipts During Current Period
Per Attached Schedule (Not filed with Form 8K) 90,623.47 122,856.78 - 28,777.05
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E. Balance Available $ 916,726.05 $ 122,856.78 $ 0.00 $ 9,589,297.94
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F. Less: Disbursements During Period
Per Attached Schedule (Not filed with Form 8K) 442,642.78 122,856.78 - -
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G. Ending Balance $ 474,083.27 $ 0.00 $ 0.00 $ 9,589,297.94
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H. ACCOUNT INFORMATION
(1). General Account (5). Pre-Chapter Payroll Account (9). 5-Month Liquid Certificate
(a) City National Bank 4605 Lankershim (a) Western Security Bank of Deposit
Blvd. No. Hollywood, Ca. 4100 W. Alameda Ave., Burbank, Ca. (a) City National Bank
(b) 411952738 (b) 001064088 4605 Lankershim Blvd.
No Hollywood, Ca.
(2). Concentration Account (6). Investment Account (b) 411955893
(a) City National Bank 4605 Lankershim (a) City National Bank 4605
Blvd. No. Hollywood, Ca. Lankershim Blvd. No. Hollywood, Ca.
(b) 411952886 (b) BHS-072281
(3). Payroll Account (7). Professional Account
(a) City National Bank 4605 Lankershim (a) City National Bank 4605
Blvd. No. Hollywood, Ca. Lankershim Blvd. No. Hollywood, Ca.
(b) 411952800 (b) 411953459
(4). Tax Account (8). Certificate of Deposit
(a) City National Bank 4605 Lankershim (a) City National Bank 4605
Blvd. No. Hollywood, Ca. Lankershim Blvd. No. Hollywood, Ca.
(b) 411952851 (b) 411956334
I. Other Monies On Hand: None
I, Ellen Gordon, Estate Representative, declare under penalty of perjury that
the information contained in the above Debtor in Possession Interim Statement is
true and complete to the best of my knowledge:
Dated: July 27, 2001 Signed: /s/ Ellen Gordon
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