1
Exhibit 99.1
Debtor: In re Unitel Video, Inc., et al.
Case No. 99-2979 (PJW)
OFFICE OF THE UNITED STATES TRUSTEE -- REGION 3
MONTHLY OPERATING REPORT
FOR THE PERIOD February, 2001
================================================================================
Document Previously Explanation
Attached Submitted Attached
1. Tax Receipts X
2. Bank Statements X
3. Most recently filed
Income tax return X
4. Most recent annual
Financial statements
Prepared by accountant X
IN ACCORDANCE WITH TITLE 28, SECTION 1748 OF THE UNITED STATES CODE, I DECLARE
UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING
REPORT (ACCRUAL BASIS -- 1 THROUGH ACCRUAL BASIS -- 9) AND THE ACCOMPANYING
ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT
AND COMPLETE. DECLARATION OF PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON
ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
RESPONSIBLE PARTY:
/s/ Brian Mittman CONSULTANT TO UNITEL VIDEO, INC.
- --------------------------------- -----------------------------------
SIGNATURE OF RESPONSIBLE PARTY TITLE
Brian Mittman August 9, 2001
- --------------------------------- -----------------------------------
PRINTED NAME OF RESPONSIBLE PARTY DATE
PREPARER:
/s/ Deepak Tejwaney Consultant
- --------------------------------- -----------------------------------
SIGNATURE OF PREPARER TITLE
Deepak Tejwaney August 9, 2001
- --------------------------------- -----------------------------------
PRINTED NAME OF PREPARER DATE
ALL CHAPTER 11 DEBTORS MUST FILE THIS REPORT WITH THE COURT AND SERVE A COPY
ON THE UNITED STATES TRUSTEE NO LATER THAN THE 15TH DAY OF THE MONTH FOLLOWING
THE END OF THE MONTH COVERED BY THE REPORT
2
Unitel Video February 2001 Operating Report
INCOME STATEMENT
<Table>
<Caption>
Oct-00 Nov-00 Dec-00 Jan-01 Feb-01
- ------------------------------------------------------------------------------------------------------------------
REVENUES $ 863,760 $ 863,200 $ 856,758 $ 850,980 $ 867,989
COST OF SALES
Rent $ 104,066 $ 96,033 $ 101,444 $ 122,453 $ 38,333
Payroll $ 107,600 $ 113,720 $ 173,600 $ 107,355 $ 118,828
Equipment leases $ 27,828 $ -- $ -- $ -- $ --
Other COGS $ 3,243 $ 6,685 $ 7,272 $ 34,735 $ 13,487
TOTAL COGS $ 242,737 $ 216,438 $ 282,316 $ 264,543 $ 170,648
- ------------------------------------------------------------------------------------------------------------------
OPERATING EXPENSES
Officer/insider compensation $ 10,769 $ 10,769 $ 16,154 $ 10,769 $ 10,769
Overhead payroll $ 18,634 $ 17,562 $ 8,496 $ 28,873 $ 28,423
Insurance $ 11,369 $ 8,297 $ 42,924 $ 21,412 $ 14,663
Other SG&A $ 243,408 $ 268,524 $ 233,312 $ 196,457 $ 161,656
TOTAL OPERATING EXPENSES $ 284,180 $ 305,152 $ 300,886 $ 257,511 $ 215,511
- ------------------------------------------------------------------------------------------------------------------
GAIN/(LOSS) ON SALE OF EQUIPMENT $(186,819) $ -- $ -- $ -- $ --
- ------------------------------------------------------------------------------------------------------------------
DEPRECIATION & AMORTIZATION $ 37,628 $ 118,001 $ 120,848 $ 4,169 $ 75,168
- ------------------------------------------------------------------------------------------------------------------
INTEREST EXPENSE $ 115,776 $ 114,520 $ 110,492 $ 119,396 $ 103,925
- ------------------------------------------------------------------------------------------------------------------
REORGANIZATION EXPENSES
Professional fees (Kaye Scholer,
Getzler, Heller, Houlihan-L) $ 102,371 $ 113,822 $ 114,050 $ 218,659 $ 170,440
U.S. Trustee fees
Total Reorganization Expenses $ 102,371 $ 113,822 $ 114,050 $ 218,659 $ 170,440
- ------------------------------------------------------------------------------------------------------------------
OTHER INCOME $ 7,999 $ 1,455 $ 211
- ------------------------------------------------------------------------------------------------------------------
NET PROFIT (LOSS) $(105,751) $ (4,733) $ (63,835) $ (11,843) $ 132,508
- ------------------------------------------------------------------------------------------------------------------
Notes:
Officer/insider compensation is payroll only; doesn't include payroll tax; payroll tax is included in the direct
portion. Interest expense includes many equipment leases.
</Table>
3
Unitel Video February 2001 Operating Report
<Table>
<Caption>
BALANCE SHEET NOV-00 DEC-00 JAN-00 FEB-01*
- -----------------------------------------------------------------------------------------------------------------------------------
Cash $ 616,636 $ 644,747 $ 351,587 $ 613,860
Net accounts receivable $ 605,989 $ 344,637 $ 624,085 $ 652,199
Prepaid corporate tax & expenses, deferred tax asset $ 1,032,502 $ 1,064,375 $ 1,127,090 $ 1,112,853
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL CURRENT ASSETS $ 2,255,127 $ 2,053,759 $ 2,102,762 $ 2,378,912
- -----------------------------------------------------------------------------------------------------------------------------------
PP&E $ 34,595,036 $ 34,595,036 $ 34,595,036 $ 34,595,036
Accumulated depreciation $(20,370,132) $(20,490,980) $(20,495,149) $(20,570,317)
- -----------------------------------------------------------------------------------------------------------------------------------
NET PP&E $ 14,224,904 $ 14,104,056 $ 14,099,887 $ 14,024,719
- -----------------------------------------------------------------------------------------------------------------------------------
Deferred taxes $ 2,157,058 $ 2,157,058 $ 2,157,058 $ 2,157,058
Other Assets $ 1,633,607 $ 1,626,578 $ 1,619,549 $ 1,612,520
Goodwill $ -- $ -- $ -- $ --
===================================================================================================================================
TOTAL ASSETS $ 20,270,696 $ 19,941,451 $ 19,979,256 $ 20,173,209
===================================================================================================================================
Prepetition accounts payable $ 7,603,108 $ 7,603,109 $ 7,569,403 $ 7,569,403
Postpetition accounts payable $ 959,505 $ 934,243 $ 834,658 $ 875,541
Accrued expenses and other current liabilities $ 3,464,426 $ 3,107,292 $ 2,923,129 $ 2,903,195
Payroll & related expense $ 821,863 $ 763,584 $ 766,540 $ 771,463
Current maturity of secured long-term debt $ 18,061,273 $ 18,079,108 $ 18,115,254 $ 18,117,709
Current maturity of unsecured long-term debt $ 2,199,666 $ 2,181,831 $ 2,145,685 $ 2,143,230
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL CURRENT LIABILITIES $ 33,109,841 $ 32,669,167 $ 32,354,669 $ 32,380,541
- -----------------------------------------------------------------------------------------------------------------------------------
Secured long-term debt $ 1,052,157 $ 1,209,586 $ 1,537,587 $ 1,560,310
Unsecured long-term debt $ 128,141 $ 145,976 $ 182,122 $ 184,577
Accrued retirement expense $ 917,276 $ 917,276 $ 917,276 $ 917,276
- -----------------------------------------------------------------------------------------------------------------------------------
LONG-TERM LIABILITIES $ 2,097,574 $ 2,272,838 $ 2,636,985 $ 2,662,163
- -----------------------------------------------------------------------------------------------------------------------------------
Common stock $ 26,755 $ 26,755 $ 26,755 $ 26,755
Add'l paid-in capital $ 27,286,352 $ 27,286,352 $ 27,286,352 $ 27,286,352
Treasury stock $ (7,645,089) $ (7,645,089) $ (7,645,089) $ (7,645,089)
Retained earnings $(31,309,706) $(31,309,706) $(31,309,706) $(31,299,311)
YTD Income/loss $ (3,295,031) $ (3,358,866) $ (3,370,710) $ (3,238,202)
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL STOCKHOLDERS' EQUITY $(14,936,719) $(15,000,554) $(15,012,398) $(14,869,495)
===================================================================================================================================
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY $ 20,270,696 $ 19,941,451 $ 19,979,256 $ 20,173,209
===================================================================================================================================
</Table>
* Note that balance sheet includes certain leased assets of the mobile division
which were previously sold at auction and certain components of debt related to
those assets. However, as removing the assets from the balance sheet would
require removing the related debt, and as the amounts of debt to be removed are
still being negotiated with the relevant creditors, both the assets and debt
have been maintained on the balance sheet.
4
Unitel Video February 2001 Operating Report
<Table>
<Caption>
- -----------------------------------------------------------------------------------------------------------------
ACCOUNTS RECEIVABLE AGING DEC-00 JAN-01 FEB-01
- -----------------------------------------------------------------------------------------------------------------
0-30 days old $326,151 $615,031 $646,425
31-60 days old $ 8,729 $ 783 $ --
61-90 days old $ 4,939 $ -- $ --
91+ days old $ 5,112 $ 8,271 $ 5,774
TOTAL ACCOUNTS RECEIVABLE $344,931 $624,085 $652,199
LESS NON-TRADE A/R $ 294 $ -- $ --
ACCOUNTS RECEIVABLE (NET) $344,637 $624,085 $652,199
- -----------------------------------------------------------------------------------------------------------------
</Table>
<Table>
<Caption>
- ----------------------------------------------------------------
AGING OF POSTPETITION ACCOUNTS PAYABLE
- ---------------------------------------------------------------------------------------------------------------------------------
FEB-01 0-30 DAYS 31-60 DAYS 61-90 DAYS 91+ DAYS TOTAL
- ---------------------------------------------------------------------------------------------------------------------------------
ACCOUNTS PAYABLE $1,700 -$6,558 $5,005 $875,393 $875,541
- ---------------------------------------------------------------------------------------------------------------------------------
</Table>
<Table>
<Caption>
- ---------------------------------------------------------------------------------------------------------------------------------
STATUS OF POSTPETITION TAXES
FEBRUARY, 2001
- ---------------------------------------------------------------------------------------------------------------------------------
AMOUNT
BEGINNING WITHHELD/ ENDING TAX
TAX LIABILITY ACCRUED AMOUNT PAID LIABILITY DELINQUENT TAXES
- ---------------------------------------------------------------------------------------------------------------------------------
FEDERAL
- ---------------------------------------------------------------------------------------------------------------------------------
Withholding $21,244 $21,244 $ --
FICA - Employee $ 9,731 $9,731 $ --
FICA - Employer $ 9,731 $9,731 $ --
Unemployment $ 334 $ 334 $ --
Income
Other
- ---------------------------------------------------------------------------------------------------------------------------------
Total Federal Taxes $41,039 $41,039 $ --
- ---------------------------------------------------------------------------------------------------------------------------------
STATE & LOCAL
- ---------------------------------------------------------------------------------------------------------------------------------
Withholding $ 8,248 $ 8,248
Sales $ -- $ --
Excise
Unemployment $ 4,333 $ 4,333
Real Property $ -- $ --
Personal Property
Commercial rent tax $ -- $ --
- ---------------------------------------------------------------------------------------------------------------------------------
TOTAL STATE AND LOCAL $ -- $12,581 $12,581 $ --
- ---------------------------------------------------------------------------------------------------------------------------------
TOTAL TAXES $ -- $53,621 $53,621 $ --
- ---------------------------------------------------------------------------------------------------------------------------------
</Table>
5
Unitel Video February 2001 Operating Report
- --------------------------------------------------------------------------------
PAYMENTS TO INSIDERS AND PROFESSIONALS
- --------------------------------------------------------------------------------
INSIDERS
- --------------------------------------------------------------------------------
<Table>
<Caption>
CUMULATIVE UNPAID
NAME POSITION TYPE OF PAYMENT AMOUNT PAID BALANCE
- -----------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------
TOTAL PAYMENTS TO INSIDERS $ --
- -----------------------------------------------------------------------------------------------
</Table>
- -------------------------------------------------------------------------------
PROFESSIONALS
- -------------------------------------------------------------------------------
<Table>
<Caption>
TYPE OF DATE OF COURT ORDER AUTHORIZING
NAME PROFESSIONAL PAYMENT AMOUNT APPROVED AMOUNT PAID DATE OF PAYMENT
- ----------------------------------------------------------------------------------------------------------------------
Kaye Scholer Legal $ 58,596.57 9-Feb
Young Conaway Legal $113,301.22 02/09/01
- ----------------------------------------------------------------------------------------------------------------------
</Table>
<Table>
<Caption>
- ------------------------------------------------------------------------------------------------------
ADEQUATE PROTECTION PAYMENTS
- ------------------------------------------------------------------------------------------------------
NAME OF CREDITOR SCHEDULED MONTHLY AMOUNTS PAID DURING MONTH TOTAL UNPAID POSTPETITION
- ------------------------------------------------------------------------------------------------------
Heller Financial $ 49K
- ------------------------------------------------------------------------------------------------------
Bear Stearns $111K
- ------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------
</Table>
6
Unitel Video February 2001 Operating Report
QUESTIONNAIRE
<Table>
<Caption>
YES NO
--- --
1. Have any assets been sold or transferred outside the normal course of business this reporting period? X
2. Have any funds been disbursed from any account other than a debtor in possession account? X
3. Are any postpetition receivables (accounts, notes or loans) due from related parties? X
4. Have any payments been made on prepetition liabilities this reporting period? X
5. Have any postpetition loans been received by the debtor from any party? X
6. Are any postpetition payroll taxes past due? X
7. Are any postpetition state or federal income taxes past due? X
8. Are any postpetition real estate taxes past due? X
9. Are any other postpetition taxes past due? X
10. Are any amounts owed to postpetition creditors past due? X
11. Have any prepetition taxes been paid during the reporting period? X
12. Are any wage payments past due? X
</Table>
INSURANCE
<Table>
<Caption>
YES NO
--- --
1. Are worker's compensation, general liability and other necessary insurance coverages in effect? X
2. Are all premium payments paid current? X
3. Please itemize policies below
</Table>
INSURANCE POLICIES
<Table>
<Caption>
TYPE OF INSURANCE BROKER PAYMENT
----------------- ------ -------
Directors & Officers Liability; Misc. Professional ARC Excess & Surplus, LLC - financing through AI $6725 monthly
Property Policy FM Global - financing through AFCO Down payment - $34,449;
7 installments of $11,849
General liability; auto disability; mobile SCS Agency 9 payments of $10,113
liability; foreign liability; DICE; workers'
comp & two umbrella
</Table>
7
Unitel Video February 2001 Operating Report
<Table>
PERSONNEL - FEBRUARY, 2001
FULL TIME PART TIME
1. Total number of employees at beginning of period 20 3
2. Number of employees hired during the period
3. Number of employees terminated or resigned during the period
4. Total number of employees on payroll at end of period 20 3
</Table>
CHANGE OF ADDRESS
Mailing address changed to 423 W. 55th St., 3rd Floor, New York, NY 10019
8
Unitel Video February 2001 Operating Report
<Table>
Feb-01 CASH RECEIPTS AND
DISBURSEMENTS PAYROLL NY MOBILE PETTY CASH TOTAL
1 Cash-Beginning of Month (2,157) $338,530 $4,468 $827 $341,668
RECEIPTS
2 Cash Sales $0 $0
3 Accounts Receivable Collections $726,116 $726,116
4 Loans & Advances $0 $0 $0
5 Sale of Assets $0 $0
6 Lease & Rental Income $0
7 Wages $0
8 Other-Transfers between accounts $152,421 (152,421) $0 -- $0
9 Total Receipts (Total Lines 2-8) $152,421 $573,695 $0 -- $726,116
DISBURSEMENTS
10 Net Payroll $73,606 $0 $0 $73,606
11 Payroll Taxes $56,019 $0 $0 $56,019
12 Sales, Use & Other Taxes Paid $28,580 $0 $28,580
13 Inventory Purchases $0 $0 $0
14 Mortgage Payments $0 $0 $0
15 Other Secured Note Payments $0 $0 $0
16 Rental & Lease Payments $0 $0 $0
17 Utilities $3,998 $3,998
18 Insurance $11,738 $14,663 $26,401
19 Vehicles Expenses $553 $0 $553
20 Travel $0
21 Entertainment $0 $0 $0
22 Repairs & Maintenance $37,000 $0 $37,000
23 Supplies $22,215 $22,215
24 Advertising $0 $0
25 Household Expenses $0
26 Charitable Contributions $0
27 Gifts $0
28 Other (Attach List) $11,012 $22,547 $24 $0 $33,583
29 Total Lines 10-28 $152,374 $129,557 $24 $0 $281,955
REORGANIZATION EXPENSES
30 Professional Fees-KS, Getzler $176,539 $176,539
31 U.S. Trustee Fees $0 $0
32 Other - Bankruptcy Services $375 $375
33 Total Lines 30-32 $0 $176,914 $0 $0 $176,914
34 Total Disbursements (Line 29-33) $152,374 $306,471 $24 $0 $458,869
35 Net Cash Flow (Line 9-Line 34) $48 267,224 -$24 -- 267,248
Reconciling Difference
</Table>
9
Unitel Video February 2001 Operating Report
<Table>
<Caption>
36 Cash-End of Month (Line 1 + L -$2,109 $605,754 $4,444 827 $608,916
___________________________________________________________________________________________
___________________________________________________________________________________________
28 OTHER CASH DISBURSEMENTS
PAYROLL NY MOBILE PETTY CASH TOTAL
____________________________________________________________________________________________
Security $10,813 $0 $10,813
Utility Deposits $0 $0 $0
Equipment Rental $0 $0
Shipping, Postage & Messenger $12,463 $0 $12,463
Bank Charges $30 $80 $24 $134
Freelancers $0 $0 $0
401K $10,982 $0 $10,982
Union Dues $0 $0 $0
Perdiems, Airfare, Hotels $1,702 $0 $1,702
Equipment R&M, Truck Rentals,
Fuel $0 $0 $0
Miscellaneous $0 -$2,511 $0 -$2,511
TOTAL OTHER CASH
DISBURSEMENTS $11,012 $22,547 $24 $0 $33,583
___________________________________________________________________________________________
</Table>
10
Unitel Video February 2001 Operating Report
<Table>
<Caption>
Feb-01
BANK RECONCILIATIONS Account #1 Account #2 Account #3
- -------------------------------------------------------------------------------------------------
A BANK: Fleet Fleet Mellon
B ACCOUNT NUMBER: 9417-544821 9415-859803 038-5545
C PURPOSE (TYPE) Payroll A/P A/P
Balance per Bank Statement $2,491 $701,337 $4,444
Total Deposits Not Credited
Outstanding Checks $3,018 $100,588 $0
+/- Other reconciling items (Attach List) $1,551 $0
Month end balance per books -$2,079 $600,749 $4,444
Number of last check written 2018/6295 10761 42092
- --------------------------------------------------------------------------------------------------
</Table>
<Table>
<Caption>
- -------------------------------------------------------------------------------------------------------------------------------
Closed Closed
BANK RECONCILIATIONS Account #5 Account #6 Account #7 Account #8 Account #9
- -------------------------------------------------------------------------------------------------------------------------------
A BANK: Wells Fargo Wells Fargo Bank of America Union BOC PNC Bank
B ACCOUNT NUMBER: 4159-405224 0290-519198 02177-04548 0720089084 10-0959-6087
C PURPOSE (TYPE) Payroll A/P Burbank A/P A/P
Balance per Bank Statement $0 $0 $0 $0 $9,919
Total Deposits Not Credited $0 $0 $0 $0 $0
Outstanding Checks $0 $0
+/- Other reconciling items
(Attach List) $0 $0 $0
Month end balance per books $0 $0 $0 $0 $9,919
Number of last check written
INVESTMENT ACCOUNTS - NONE
CURRENCY ON HAND $827
TOTAL CASH-END OF MONTH $613,860
</Table>
11
Unitel Video February 2001 Operating Report
- --------------------------------------------------------------------------------
FLEET OPERATING BANK RECONCILIATION
- --------------------------------------------------------------------------------
BALANCE PER BOOKS 02/28/2001 $600,749.15
ADD O/S CHECKS $100,587.73
ADJUSTED BANK BALANCE $ --
BALANCE PER BANK AS ON 02/28/2001 $701,336.88
DIFFERENCE $ --
Outstanding Check List:
CK# AMOUNT
8132 $ 8,741.22
8206 $ 474.00
8297 $ 17.94
8318 $ 104.20
8416 $ 47.50
9032 $ 273.15
9176 $ 66,400.42
9277 $ 500.00
9308 $ 232.46
10517 $ 5,005.00
10728 $ 160.00
10738 $ 525.60
10739 $ 6,557.63
10752 $ 102.84
10755 $ 65.00
10757 $ 161.36
10759 $ 8,500.00
10761 $ 2,604.00
Service charges $ 115.41
TOTAL $ * 100,587.73
- --------------------------------------------------------------------------------
12
[FLEET LOGO]
STATEMENT OF ACCOUNTS PAGE 1 OF 4
9415-859803
STATEMENT DATE
02/28/01
Questions?
Call our Business
Banking Center at
1-800-PARTNER
116 D
Cash Reserve Payment
UNITEL VIDEO INC CY | |
555 WEST 57TH ST | |
SUITE 1240 ------------------
NEW YORK NY 10019 94 ENCLOSED ITEMS Please remit to:
FLEET BANK
Cash Reserve
PO Box 150456
Hartford, CT, 06115-0456
<Table>
<Caption>
detach
====================================================================================================================================
BEGINNING DEPOSITS, OTHER CHECKS, WITHDRAWALS, INTEREST ACCOUNT ACTIVITY ENDING
CHECKING BALANCE CREDITS OTHER DEBITS PAID & OTHER FEES BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
9415-859803 739317.75 726116.24 764097.11 .00 .00 701336.88
- ------------------------------------------------------------------------------------------------------------------------------------
</Table>
<Table>
<Caption>
ACCOUNT NO. 9415-859803 COMMERCIAL CHECKING PERIOD 02/01/01 THROUGH 02/28/01
BUSINESS BANKING CENTER ACCESS CODE 7399
- --------------------------------------------------------------------------------------------
- DEBITS AND CREDITS -
- --------------------------------------------------------------------------------------------
DATE DEBITS (-) CREDITS (+) DESCRIPTION
02-01 279,804.45 WIRE INCOMING FED
02/01/01 021057
9999010201021057
26654
02-02 30.41 MELLON BANK N.A.
PREAUTHORIZED DDA DEBIT
NDPS NDPSSTLMNT
200102 8788000152756
UNITEL NY
020010330992254 CCD
02-02 25.00 PREAUTHORIZED-DDA DEBIT
NDPS NDPSSTLMNT
200102 8788000152772
UNITEL POST 38
020010330992387 CCD
02-02 25.00 PREAUTHORIZED DDA DEBIT
NDPS NDPSSTLMNT
200102 8788000152798
EDITEL-LA
020010330992255 CCD
02-07 67,634.24 WIRE INCOMING FED
02/07/01 016344
9999010207016344
20000
MELLON BANK N.A.
</Table>
- --------------------------------------------------------------------------------
Notice: See reverse side for important information
13
[FLEET BANK LOGO]
STATEMENT OF ACCOUNTS
PAGE 2 OF 4
9415-859803
STATEMENT DATE
02/28/01
Questions?
Call our Business
116 Banking Center at
1-800-PARTNER
Cash Reserve Payment
--------------------
UNITEL VIDEO INC CY
555 WEST 57TH ST --------------------
SUITE 1240 Please remit to:
NEW YORK NY 10019 FLEET BANK
Cash Reserve
PO Box 150456
detach Hartford, CT. 06115-0456
<Table>
===============================================================================
ACCOUNT NO. 9415-859803 CONTINUED PERIOD 02/01/01 THROUGH 02/28/01
===============================================================================
- DEBITS AND CREDITS -
- -------------------------------------------------------------------------------
<Caption>
DATE DEBITS (-) CREDITS (+) DESCRIPTION
02-08 75,413.11 REPETITIVE IBT VIA PC
02/08/01 019151
9999010208019151
2001020802689NTR
UNITEL VIDEO INC
02-09 36,674.02 WIRE INCOMING FED
02/09/01 021053
9999010209021053
23638
MELLON BANK N.A.
02-20 34,750.39 WIRE INCOMING FED
02/20/01 043561
9999010220043561
33153
MELLON BANK N.A.
02-21 194,177.98 WIRE INCOMING FED
02/21/01 025868
9999010221025868
19648
MELLON BANK N.A.
02-21 76,360.19 WIRE INCOMING FED
02/21/01 025869
9999010221025869
19649
MELLON BANK N.A.
02-22 77,008.09 REPETITIVE IBT VIA PC
02/22/01 035100
9999010222035100
2001022204757NTR
UNITEL VIDEO INC
- -------------------------------------------------------------------------------
</Table>
Notice: See reverse side for important information
14
[FLEET BANK LOGO]
STATEMENT OF ACCOUNTS
PAGE 3 OF 4
9415-859803
STATEMENT DATE
02/28/01
Questions?
Call our Business
116 Banking Center at
1-800-PARTNER
Cash Reserve Payment
--------------------
UNITEL VIDEO INC CY
555 WEST 57TH ST --------------------
SUITE 1240 Please remit to:
NEW YORK NY 10019 FLEET BANK
Cash Reserve
PO Box 150456
detach Hartford, CT. 06115-0456
================================================================================
ACCOUNT NO. 9415-859803 CONTINUED PERIOD 02/01/01 THROUGH 02/28/01
<Table>
<Caption>
===============================================================================
- DEBITS AND CREDITS -
- -------------------------------------------------------------------------------
DATE DEBITS(-) CREDITS (+) DESCRIPTION
02-23 36,714.97 WIRE INCOMING FED
02/23/01 030172
9999010223030172
22992
MELLON BANK N.A.
</Table>
=================================================================================================
- CHECKS POSTED - - CHECKS POSTED - - CHECKS POSTED -
- -------------------------------------------------------------------------------------------------
DATE CHECK NO. AMOUNT DATE CHECK NO. AMOUNT DATE CHECK NO. AMOUNT
02-15 10617 3,532.20 02-07 10679* 16,800.00 02-09 10706 9,065.94
02-01 10637* 14,235.00 02-06 10682* 9.62 02-13 10707 58,596.57
02-02 10641* 150.00 02-06 10683 1,636.57 02-15 10708 113,301.22
02-01 10643* 383.75 02-07 10684 795.63 02-20 10709 4,640.93
02-01 10647* 28,345.83 02-08 10685 325.00 02-23 10710 106.83
02-01 10650* 90.79 02-09 10686 120.50 02-16 10711 500.00
02-09 10656* 105.25 02-02 10687 1,800.00 02-20 10712 658.16
02-01 10657 676.56 02-02 10688 450.00 02-23 10713 71.60
02-14 10659* 567.60 02-02 10689 8,024.57 02-26 10714 2,016.19
02-01 10660 36.81 02-12 10690 2,533,05 02-21 10715 3,582.02
02-01 10661 64.63 02-14 10691 3,479.17 02-22 10716 162.38
02-14 10663* 55,000.00 02-15 10692 11,735.00 02-26 10717 102.84
02-08 10664 11,083.48 02-15 10694* 37.71 02-27 10718 28,475.66
02-05 10666* 34,754.71 02-14 10695 97.43 02-22 10719 43.43
02-05 10667 38,531.67 02-14 10696 1,523.00 02-26 10720 19.95
02-05 10668 3,445.22 02-13 10697 375.00 02-20 10721 3,453.18
02-08 10669 166.28 02-15 10698 131.80 02-20 10722 519.60
02-09 10670 4,063.24 02-15 10699 1,543.56 02-20 10723 138.70
02-05 10671 635.00 02-12 10700 50.00 02-16 10724 8,761.76
02-08 10672 175.91 02-20 10701 57.04 02-23 10725 271.44
02-02 10673 558.23 02-12 10702 117.22 02-21 10726 553.05
02-15 10674 38,333.33 02-12 10703 939.03 02-21 10727 691.00
02-07 10675 53,131.93 02-14 10704 1,133.48 02-22 10729* 9.62
02-07 10676 846.79 02-13 10705 2,309.76 02-23 10730 350.00
CONTINUED
- -------------------------------------------------------------------------------------------------
</Table>
Notice: See reverse side for important information
15
[FLEET LOGO]
STATEMENT OF ACCOUNTS
PAGE 4 OF 4
9415-859803
STATEMENT DATE
2/28/01
Questions?
Call our Business
Banking Center at
1-800-PARTNER
116
UNITEL VIDEO INC CY Cash Reserve Payment
555 WEST 57TH ST --------------------
SUITE 1240
NEW YORK NY 10019 --------------------
Please Remit to:
FLEET BANK
Cash Reserve
PO BOX 150456
HARTFORD, CT 06115-0456
<Table>
<Caption>
detach
- -----------------------------------------------------------------------------------------------------------------------------------
ACCOUNT NO. 9415-859803 CONTINUED PERIOD 02/01/01 THROUGH 02/28/01
- -----------------------------------------------------------------------------------------------------------------------------------
- CHECKS POSTED - - CHECKS POSTED - - CHECKS POSTED -
- -----------------------------------------------------------------------------------------------------------------------------------
DATE CHECK NO. AMOUNT DATE CHECK NO. AMOUNT DATE CHECK NO. AMOUNT
02-22 10731 173.93 02-27 10743 257.92 02-27 10750 1,250.00
02-22 10732 559.40 02-28 10744 264.13 02-27 10751 3,751.51
02-21 10733 224.59 02-27 10745 2,055.28 02-22 10753* 123.53
02-27 10734 39.60 02-28 10746 79.48 02-23 10754 1,575.00
02-22 10735 525.00 02-27 10747 676.56 02-22 10756* 228.07
02-26 10736 2,100.00 02-28 10748 292.98 02-23 10758* 8,475.98
02-27 10737 6,050.51 02-23 10749 1,188.24 02-27 10760* 224.37
02-26 10742* 449.00
*DENOTES SEQUENCE BREAK
</Table>
<Table>
<Caption>
- -----------------------------------------------------------------------------------------------------------------------------------
- DAILY BALANCE SUMMARY -
- -----------------------------------------------------------------------------------------------------------------------------------
DATE BALANCE DATE BALANCE DATE BALANCE
02-01 975,288.83 02-12 813,788.73 02-21 803,600.43
02-02 964,225.62 02-13 752,507.40 02-22 724,766.98
02-05 886,859.02 02-14 690,706.72 02-23 749,442.86
02-06 885,212.83 02-15 522,091.90 02-26 744,754,88
02-07 881,272.72 02-16 512,830.14 02-27 701,973.47
02-08 794,108.94 02-20 538,112.92 02-28 701,336.88
02-09 817,428.03
</Table>
- -------------------------------------------------------------------------------
Notice: See reverse side for important information
16
[FLEET LOGO]
STATEMENT OF ACCOUNTS PAGE 2 OF 2
9417-544821
STATEMENT DATE
02/28/01
Questions?
Call our Business
116 Banking Center at
1-800-PARTNER
Cash Reserve Payment
UNITEL VIDEO INC CY -----------------
PAYROLL | |
555 WEST 57TH ST -----------------
SUITE 1240 Please remit to:
NEW YORK NY 10019 FLEET BANK
Cash Reserve
PO Box 150456
Hartford, CT. 06115-0456
detach
- --------------------------------------------------------------------------------
ACCOUNT NO. 9417-544821 CONTINUED PERIOD 02/01/01 THROUGH 02/28/01
- --------------------------------------------------------------------------------
- DEBITS AND CREDITS -
- --------------------------------------------------------------------------------
<Table>
<Caption>
DATE DEBITS (-) CREDITS (+) DESCRIPTION
02-22 28,466.11 PREAUTHORIZED DDA DEBIT
ADP TX/FINCL ADP - TAX
010222 94K1H 022308A01
UNITEL VIDEO INC
020010534356766 CCD
02-22 1,198.93 PREAUTHORIZED DDA DEBIT
ADP TX/FINCL ADP - TAX
010222 94K1H 022308B02
UNITEL VIDEO INC
020010534356297 CCD
02-23 33,879.52 PREAUTHORIZED DDA DEBIT
UNITEL VIDEO PAYROLL
082071 K1HA01231713238
UNITEL VIDEO INC
020010523088714 PPD
19,704.65
</Table>
<Table>
<Caption>
- -----------------------------------------------------------------------------------------
- CHECKS POSTED - - CHECKS POSTED - - CHECKS POSTED -
- -----------------------------------------------------------------------------------------
DATE CHECK NO. AMOUNT DATE CHECK NO. AMOUNT DATE CHECK NO. AMOUNT
02-09 2011 641.04 02-27 2016 1,987.61 02-16 6289* 694.11
02-12 2012 2,034.79 02-23 2017 1,469.49 02-28 6289* 694.11
02-09 2013 1,384.74 02-26 2018 799.28 02-14 6290 9,330.20
02-09 2014 799.28 02-01 6285* 1,159.88 02-13 6291 5,219.65
02-23 2015 803.43 02-02 6286 327.00 02-28 6294* 5,762.07
* DENOTES SEQUENCE BREAK
- -----------------------------------------------------------------------------------------
</Table>
<Table>
<Caption>
- -----------------------------------------------------------------------------------------
- DAILY BALANCE SUMMARY -
- -----------------------------------------------------------------------------------------
DATE BALANCE DATE BALANCE DATE BALANCE
02-01 1,026.65 02-13 9,873.17 02-23 11,733.58
02-02 699.65 02-14 542.97 02-26 10,934.30
02-08 49,759.15 02-16 151.14OD 02-27 8,946.69
02-09 17,127.61 02-20 542.97 02-28 2,490.51
02-12 15,092.82 02-22 47,886.02
- -----------------------------------------------------------------------------------------
</Table>
Notice: See reverse side for important information
17
[FLEET LOGO]
STATEMENT OF ACCOUNTS PAGE 1 OF 2
9417-544821
116 D STATEMENT DATE
02/28/01
Questions?
Call our Business
Banking Center at
1-800-PARTNER
Cash Reserve Payment
UNITEL VIDEO INC CY
PAYROLL
555 WEST 57TH ST Please remit to:
SUITE 1240 FLEET BANK
NEW YORK NY 10019 14 ENCLOSED ITEMS Cash Reserve
PO Box 150456
detach Hartford, CT. 06115-0456
<Table>
<Caption>
============================================================================================================
BEGINNING DEPOSITS, OTHER CHECKS, WITHDRAWALS, INTEREST ACCOUNT ACTIVITY ENDING
CHECKING BALANCE CREDITS OTHER DEBITS PAID & OTHER FEES BALANCE
- ------------------------------------------------------------------------------------------------------------
9417-544821 2186.53 153115.31 152811.33 .00 .00 2490.51
- ------------------------------------------------------------------------------------------------------------
</Table>
<Table>
<Caption>
ACCOUNT NO. 9417-544821 COMMERCIAL CHECKING PERIOD 02/01/01 THROUGH 02/28/01
BUSINESS BANKING CENTER ACCESS CODE 0571
- --------------------------------------------------------------------------------
-- DEBITS AND CREDITS --
- --------------------------------------------------------------------------------
DATE DEBITS (-) CREDITS (+) DESCRIPTION
02-08 75,413.11 WIRE INTERNAL BOOK TRANS CR
02/08/01 019151
9999010208019151
2001020802689NTR
UNITEL VIDEO INC
02-08 25,154.68 PREAUTHORIZED DDA DEBIT
ADP TX/FINCL ADP - TAX
010208 94K1H 020906A01
UNITEL VIDEO INC
020010394598731 CCD
02-08 1,198.93 PREAUTHORIZED DDA DEBIT
ADP TX/FINCL ADP - TAX
010208 94K1H 020906B02
UNITEL VIDEO INC
020010394598247 CCD
02-09 29,806.48 PREAUTHORIZED DDA DEBIT
UNITEL VIDEO PAYROLL
062061 K1HA01231713238
UNITEL VIDEO INC
020010383698781 PPD
02-20 694.11 RETURNED CHECK
02-22 77,008.09 WIRE INTERNAL BOOK TRANS CR
02/22/01 035100
9999010222035100
2001022204757NTR
UNITEL VIDEO INC
- -------------------------------------------------------------------------------
Notice: See reverse side for important information
</Table>
18
CHECKING 25 [PNC BANK LOGO]
PNC BANK
<Table>
Primary account number: 10-0959-6087
FOR THE PERIOD 01/23/2001 TO 02/16/2001 Page 1 of 1
Number of enclosures: 0
UNITEL MOBILE VIDEO
555 W 57TH ST 12TH FL [PHONE GRPAHIC] For 24-hour customer service or
NEW YORK NY 10019 current rates: Call 1-877-BUS-BNKG
[ENVELOPE GRAPHIC] Write to: Customer Service
PO Box 609
Pittsburgh, PA 15230-9738
[COMPUTER GRAPHIC] Visit us at www.pncbank.com
[TDD GRAPHIC] TDD terminal: 1-800-531-1648
For hearing impaired clients only
</Table>
<Table>
<Caption>
======================================================================================================
CHECKING 25 SUMMARY Unitel Mobile Video
Account number: 10-0959-6087 Tax ID number: 23-1713238
Account Link(R) number: 0231713238
- ------------------------------------------------------------------------------------------------------
BALANCE SUMMARY
Beginning Deposits and Checks and other Ending
balance other additions deductions balance
9,918.96 0.00 0.00 9,918.96
Average ledger Average collected
balance balance
9,918.96 9,918.96
- ------------------------------------------------------------------------------------------------------
DEPOSITS AND OTHER ADDITIONS CHECKS AND OTHER DEDUCTIONS
Total 0 0.00 Total 0 0.00
</Table>