EXHIBIT 99.1
CVEO Corporation f/k/a Converse Inc.
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Shedule of Cash Receipts & Disbursements Form Actual Actual Actual Actual Total
MOR1
$=thousands 1/22-1/27 1/28-2/24 2/25-3/31 4/1-4/30 1/22-4/30
JAN FEB MAR APR
CASH RECEIPTS:
Domestic Accounts 2,413 5,887 10,008 14,007 32,315
Outlet Stores 255 1,227 1,533 1,495 4,510
Int'l Distributors 2,315 1,555 6,839 5,038 15,747
Subs- Europe - - - - -
Iberia - - - - -
Mexico - - - - -
Japan(CJI) - - - - -
Royalty Receipts 119 2,411 385 1,074 3,989
Other Receipts 127 116 9 252
TOTAL RECEIPTS 5,102 11,207 18,881 21,623 56,813
DISBURSEMENTS:
Accounts Payable
Raw Materials 69 188 111 21 389
Duties/Customs 96 745 903 380 2,124
Other Disbursements 14 920 1,549 1,436 3,919
Traffic 45 416 584 276 1,321
Advertising/Mktg - 287 75 22 384
Player Contracts - 59 42 - 101
Rent - 252 268 258 778
Capital Expenditures - - - - -
Income/Frchise Tax Pmts - - - - -
Float Adjustment (224) (780) 214 181 (609)
Total Accounts Payable - 2,087 3,746 2,574 8,407
Foreign Fnshd Gds-L/C 1,141 6,738 7,665 3,909 19,453
FFG-Open Acct - - - - -
Payroll - 1,605 2,484 1,526 5,615
Tax Payments 317 1,053 1,264 802 3,436
Europe - - - - -
Mexico - - - - -
Japan - 19 113 - 132
Singapore - 96 62 61 219
Other 224 853 1,190 591 2,858
Restructuring Fees - 65 52 163 280
TOTAL CASH
DISBURSEMENTS 1,682 12,516 16,576 9,626 40,400
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NET CASH REC/DSB
BEFORE BA FIN 3,420 (1,309) 2,305 11,997 16,413
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ADD BA FINANCING 1,119 6,583 7,529 981 16,212
LESS BA MATURITY 473 2,343 4,921 19,175 26,912
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NET CASH REC/DSB
AFTER BA FINANCING 4,066 2,931 4,913 (6,197) 5,713
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PAYROLL BKDWN. M - - - -
(ACHed prior day T - - - -
for value..) W - - - -
Th - - - -
F - - - -
INTEREST/FEES;
BANKS 19 325 677 664 1,685
NOTEHOLDERS 370 877 147 1,394
CONVERTIBLE NOTES - -
DIP FEE 393 250 643
PROCEEDS SALE OF BLDG - - -
REVOLVER BALANCE 34,983 32,747 29,781 37,039 37,039
LETTERS OF CREDIT
ADD: - 3,397 4,542 1,747 9,686
SUBTRACT: 1,140 6,736 7,756 3,818 19,450
TOTAL L/C 9,099 5,760 2,546 477 477
BA REFINANCING
ADD: 1,119 6,583 7,529 981 16,212
SUBTRACT: 473 2,342 4,920 19,174 26,909
TOTAL B/A REFI 11,345 15,584 18,193 - -
STANDBY L/C 828 828 828 828 828
TOTAL LINE UTILIS. 56,255 54,920 51,348 38,344 38,344
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CVEO CORPORATION f/k/a CONVERSE INC. CONSOLIDATED BALANCE SHEET
CVEO Corporation f/k/a Converse Inc.(debtor) and subsidiaries (non-debtor)
FEBRUARY 2001
Ending Balance
2/24/01
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ASSETS
CURRENT ASSETS
Cash and cash equivalents 2,989,389
Accounts receivables 38,899,951
Receivable from subsidiaries -
Inventories 38,673,998
Prepaid expenses and other current assets 2,444,792
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Total current assets 83,008,130
Net property, plant and equipment 5,688,533
Investment in subsidiaries -
Other assets 10,941,862
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99,638,525
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LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIENCY)
Current liabilities:
Credit facility 48,331,263
Current portion long-term debt 102,907,687
Notes payable (137,628)
Accounts payable 40,795,090
Accrued expenses 17,558,907
Income taxes payable 6,319,424
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Total current liabilities 215,774,743
Current assets in excess of reorganization value 23,719,655
Stockholders' equity (deficiency):
Common stock 17,535,556
Additional paid in capital 4,449,390
Unearned compensation (212,361)
Retained deficit (160,845,091)
Cumulative currency translation adjustment (783,367)
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Total stockholders' equity (deficiency) (139,855,873)
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99,638,525
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CVEO CORPORATION f/k/a CONVERSE INC. CONSOLIDATED INCOME STATEMENT
CVEO Corporation f/k/a Converse Inc.(debtor) and subsidiaries (non-debtor)
FEBRUARY 2001
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Month of Feb. 2001 YTD Feb. 2001
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Net revenue 15,806,955 29,647,741
Cost of sales 11,457,235 21,284,654
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Gross profit 4,349,720 8,363,087
Selling, general and administrative expenses 3,030,258 6,725,337
Royalty income 1,615,820 3,155,332
Restructuring and other unusual charges 933,220 933,220
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Earnings from operations 2,002,062 3,859,862
Interest expense 875,526 2,945,301
Other (income) expense, net 425,067 1,031,463
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Net income before income tax 701,469 (116,902)
Income tax expense 241,031 469,846
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Net income 460,438 (586,748)
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CVEO CORPORATION f/k/a CONVERSE INC. CONSOLIDATED BALANCE SHEET
CVEO Corporation f/k/a Converse Inc.(debtor) and subsidiaries (non-debtor)
MARCH 2001
Ending Balance
3/31/01
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ASSETS
CURRENT ASSETS
Cash and cash equivalents 2,358,394
Accounts receivables 44,793,027
Receivable from subsidiaries -
Inventories 30,733,428
Prepaid expenses and other current assets 2,071,512
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Total current assets 79,956,361
Net property, plant and equipment 5,281,316
Investment in subsidiaries -
Other assets 11,190,948
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96,428,625
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LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIENCY)
Current liabilities:
Credit facility 47,973,786
Current portion long-term debt 102,907,687
Notes payable (270,849)
Accounts payable 38,795,500
Accrued expenses 17,232,103
Income taxes payable 6,488,902
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Total current liabilities 213,127,129
Current assets in excess of reorganization value 23,546,519
Stockholders' equity (deficiency):
Common stock 17,553,048
Additional paid in capital 4,436,788
Unearned compensation (179,712)
Retained deficit (161,558,000)
Cumulative currency translation adjustment (497,147)
---------------
Total stockholders' equity (deficiency) (140,245,023)
---------------
96,428,625
===============
CVEO CORPORATION f/k/a CONVERSE INC. CONSOLIDATED INCOME STATEMENT
CVEO Corporation f/k/a Converse Inc.(debtor) and subsidiaries (non-debtor)
MARCH 2001
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Month of Mar. 2001 YTD Mar. 2001
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Net revenue 24,214,403 53,862,144
Cost of sales 19,459,424 40,744,078
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Gross profit 4,754,979 13,118,066
Selling, general and administrative expenses 3,720,521 10,445,858
Royalty income 1,430,574 4,585,906
Restructuring and other unusual charges 528,050 1,461,270
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Earnings from operations 1,936,982 5,796,844
Interest expense 1,867,044 4,812,345
Other (income) expense, net 558,884 1,590,347
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Net income before income tax (488,946) (605,848)
Income tax expense 223,964 693,810
-------------------------------------
Net income (712,910) (1,299,658)
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CVEO CORPORATION f/k/a CONVERSE INC. CONSOLIDATED BALANCE SHEET
CVEO Corporation f/k/a Converse Inc.(debtor) and subsidiaries (non-debtor)
APRIL 2001
PRELIMINARY
Ending Balance
4/30/01
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ASSETS
CURRENT ASSETS
Cash and cash equivalents 2,029,827
Accounts receivables 35,011,801
Receivable from subsidiaries -
Inventories 25,545,491
Prepaid expenses and other current assets 1,580,054
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Total current assets 64,167,173
Net property, plant and equipment 5,119,321
Investment in subsidiaries -
Other assets 11,091,163
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80,377,657
==============
LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIENCY)
Current liabilities:
Credit facility 37,038,206
Current portion long-term debt 102,907,687
Notes payable (94,754)
Accounts payable 36,564,100
Accrued expenses 15,845,426
Income taxes payable 6,473,318
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Total current liabilities 198,733,983
Current assets in excess of reorganization value 23,373,382
Stockholders' equity (deficiency):
Common stock 17,553,048
Additional paid in capital 4,436,788
Unearned compensation (147,063)
Retained deficit (162,974,215)
Cumulative currency translation adjustment (598,266)
--------------
Total stockholders' equity (deficiency) (141,729,708)
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80,377,657
==============
Preliminary, subject to audit adjustments for Purchase Price adjustments
CVEO CORPORATION f/k/a CONVERSE INC. CONSOLIDATED INCOME STATEMENT
CVEO Corporation f/k/a Converse Inc.(debtor) and subsidiaries (non-debtor)
APRIL 2001
PRELIMINARY
----------------------------------
Month of Apr. 2001 YTD Apr. 2001
----------------------------------
Net revenue 11,731,838 65,593,982
Cost of sales 9,061,949 49,806,027
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Gross profit 2,669,889 15,787,955
Selling, general and administrative expenses 2,151,702 12,597,560
Royalty income 1,009,123 5,595,029
Restructuring and other unusual charges 782,441 2,243,711
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Earnings from operations 744,869 6,541,713
Interest expense 1,394,116 6,206,461
Other (income) expense, net 578,854 2,169,201
---------------------------------
Net income before income tax (1,228,101) (1,833,949)
Income tax expense 188,113 881,923
---------------------------------
Net income (1,416,214) (2,715,872)
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Preliminary, subject to audit adjustments for Purchase Price adjustments