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EXHIBIT 99.1
UNITED STATES BANKRUPTCY COURT
NORTHERN DISTRICT OF CALIFORNIA
CASE NO. 03-51775 msj, 03-51776 msj, 03-51777 msj, 03-51778 msj
SONICblue Inc -------------------
Diamond Multimedia Systems, Inc
ReplayTV, Inc CHAPTER 11
Sensory Science Corporation MONTHLY OPERATING REPORT
(GENERAL BUSINESS CASE)
SUMMARY OF FINANCIAL STATUS
MONTH ENDED: Oct-05 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
---
END OF CURRENT AS OF PETITION
2. ASSET AND LIABILITY STRUCTURE MONTH END OF PRIOR MONTH FILING
----- ------------------ ------
a. Current Assets $78,224,799 $78,264,140 $167,641,723
-------------------- ----------------- ------------------
b. Total Assets $78,224,799 $78,264,140 $171,565,518
-------------------- ----------------- ------------------
c. Current Liabilities $986,250 $997,806 $259,140,287
-------------------- ----------------- ------------------
d. Total Liabilities $237,590,416 $237,601,972 $283,757,820
-------------------- ----------------- ------------------
CUMULATIVE
3. STATEMENT OF CASH RECEIPTS & DISBURSEMENTS FOR MONTH CURRENT MONTH PRIOR MONTH (CASE TO DATE)
------------- ----------- --------------
a. Total Receipts (includes net cash rec'd/paid to acquirer) $47,229 $45,978 $120,608,415
-------------------- ----------------- ------------------
b. Total Disbursements $86,570 $34,962 $45,448,501
-------------------- ----------------- ------------------
c. Excess (Deficiency) of Receipts Over Disbursements (a - b) ($39,341) $11,016 $75,159,914
-------------------- ----------------- ------------------
d. Cash Balance Beginning of Month $78,264,140 $78,253,124 $3,064,884
-------------------- ----------------- ------------------
e. Cash Balance End of Month (c + d) $78,224,799 $78,264,140 $78,224,798
-------------------- ----------------- ------------------
CUMULATIVE
CURRENT MONTH PRIOR MONTH (CASE TO DATE)
------------- ----------- --------------
4. PROFIT/(LOSS) FROM THE STATEMENT OF OPERATIONS ($27,784) ($59,013) ($90,751,733)
-------------------- ----------------- ------------------
5. ACCOUNT RECEIVABLES (PRE AND POST PETITION) $0 $0
-------------------- -----------------
6. POST-PETITION LIABILITIES $986,250 $997,806
-------------------- -----------------
7. PAST DUE POST-PETITION ACCOUNT PAYABLES (OVER 30 DAYS) $0 $0
-------------------- -----------------
YES NO
AT THE END OF THIS REPORTING MONTH: --- --
8. Have any payments been made on pre-petition debt, other than payments in the normal X
course to secured creditors or lessors? (if yes, attach listing including date of ------------------- ----------------
payment, amount of payment and name of payee)
9. Have any payments been made to professionals? (if yes, attach listing including date of X (Exhibit 1)
payment, amount of payment and name of payee) ------------------- ----------------
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, X (Exhibit 2)
attach listing including date of payment, amount and reason for payment, and name ------------------- ----------------
of payee)
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: 2002 tax return preparation is in progress
-----
(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
injury believe these documents are correct.
- ------------------------------------------------------------------- --------------------------------------------------
Responsible Individual
BALANCE SHEET
(GENERAL BUSINESS CASE)
FOR THE MONTH ENDED 10/31/05
----------------
ASSETS
FROM SCHEDULES MARKET VALUE
CURRENT ASSETS
1 Cash and cash equivalents - unrestricted $78,224,799
-------------------------
2 Cash and cash equivalents - restricted $0
-------------------------
3 Accounts receivable (net) A $0
-------------------------
4 Inventory B $0
-------------------------
5 Prepaid expenses $0
-------------------------
6 Professional retainers
-------------------------
7 Other:
------------------------------------------------- -------------------------
8
--------------------------------------------------------- -------------------------
9 TOTAL CURRENT ASSETS $78,224,799
-------------------------
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 $78,224,799
=========================
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
-------------------------
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 $0
-------------------------
37 Real property lease arrearage
-------------------------
38 Personal property lease arrearage
-------------------------
39 Accrued professional fees $986,250
-------------------------
40 Current portion of long-term post-petition debt (due within 12 months)
-------------------------
41 Other:
--------------------------------------- -------------------------
42
------------------------------------------------- -------------------------
43
------------------------------------------------- -------------------------
44 TOTAL CURRENT LIABILITIES $986,250
-------------------------
45 LONG-TERM POST-PETITION DEBT, NET OF CURRENT PORTION
-------------------------
46 TOTAL POST-PETITION LIABILITIES $986,250
-------------------------
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 $236,604,166
-------------------------
51 TOTAL LIABILITIES $237,590,416
-------------------------
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 ($90,751,733)
-------------------------
56 Post-petition contributions/(distributions) or (draws)
-------------------------
57
--------------------------------------------------------- -------------------------
58 Market value adjustment
-------------------------
59 TOTAL EQUITY (DEFICIT) ($159,365,617)
-------------------------
60 TOTAL LIABILITIES AND EQUITY (DEFICIT) $78,224,799
=========================
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 $0
----------------- -------------
31-60 Days $0
----------------- -------------
61-90 Days $0 $0
----------------- ------------- ---------------------
91+ Days $595,070
----------------- -------------
Total accounts receivable/payable $595,070 $0
----------------- =============
Allowance for doubtful accounts $595,070
-----------------
Accounts receivable (net) $0
=================
SCHEDULE B
INVENTORY/COST OF GOODS SOLD
TYPES AND AMOUNT OF INVENTORY(IES) COST OF GOODS SOLD
INVENTORY(IES) INVENTORY BEGINNING OF MONTH $0
BALANCE AT ---------------------
END OF MONTH
Add -
Retail/Restaurants - Net purchase
---------------------
Product for resale $0 Direct labor
----------------- ---------------------
Manufacturing overhead
---------------------
Distribution - Freight in
---------------------
Products for resale Other:
----------------- ---------------------
$0
--------------------------------- ---------------------
Manufacturer -
--------------------------------- ---------------------
Raw Materials
-----------------
Work-in-progress Less -
-----------------
Finished goods Inventory End of Month $0
----------------- ---------------------
Shrinkage
---------------------
Other - Explain Personal Use
----------------- ---------------------
----------------------------------
Cost of Goods Sold $0
---------------------------------- =====================
TOTAL $0
=================
METHOD OF INVENTORY CONTROL INVENTORY VALUATION METHODS
Do you have a functioning perpetual inventory system? Indicate by a checkmark method of inventory used.
Yes No
------ -------
How often do you take a complete physical inventory? Valuation methods -
FIFO cost
---
Weekly LIFO cost
------ ---
Monthly Lower of cost or market
------ ---
Quarterly Retail method
------ ---
Semi-annually Other
------ ---
Annually Explain
------
Date of last physical inventory was
---------------------------- -----------------------------------------------------------
-----------------------------------------------------------
Date of next physical inventory is
---------------------------- -----------------------------------------------------------
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 10/31/05
----------------------
CURRENT MONTH
- -----------------------------------------
CUMULATIVE NEXT MONTH
ACTUAL FORECAST VARIANCE (CASE TO DATE) FORECAST
------ -------- -------- -------------- --------
REVENUES:
$0 1 Gross Sales $7,257,704
- ------------ ------------ ----------- ---------------------------------------------- ---------------- ---------------
$0 2 less: Sales Returns & Allowances $4,063,280
- ------------ ------------ ----------- ---------------- ---------------
$0 $0 3 Net Sales $3,194,424 $0
- ------------ ------------ ----------- ---------------- ---------------
$0 4 less: Cost of Goods Sold (Schedule 'B') $2,236,107
- ------------ ------------ ----------- ---------------- ---------------
$0 $0 5 Gross Profit $958,317 $0
- ------------ ------------ ----------- ---------------- ---------------
$0 6 Interest $0
- ------------ ------------ ----------- ---------------- ---------------
$0 7 Other Income: $3,827,735
- ------------ ------------ ----------- ---------------- ---------------
$0 8 Gain or (Loss) on UMC sales ($16,535,860)
- ------------ ------------ ----------- ---------------------------------------------- ---------------- ---------------
$0 9 $0
- ------------ ------------ ----------- ---------------------------------------------- ---------------- ---------------
$0 $0 $0 10 TOTAL REVENUES ($11,749,808) $0
- ------------ ------------ ----------- ---------------- ---------------
EXPENSES:
$10,750 ($10,750) 11 Compensation to Owner(s)/Officer(s) $756,782
- ------------ ------------ ----------- ---------------- ---------------
$13,125 ($13,125) 12 Salaries $1,760,321
- ------------ ------------ ----------- ---------------- ---------------
$0 13 Commissions $0
- ------------ ------------ ----------- ---------------- ---------------
$0 14 Contract Labor $225,600
- ------------ ------------ ----------- ---------------- ---------------
Rent/Lease:
$0 15 Personal Property $8,533
- ------------ ------------ ----------- ---------------- ---------------
$0 16 Real Property $999,738
- ------------ ------------ ----------- ---------------- ---------------
$224 ($224) 17 Insurance $2,468,652
- ------------ ------------ ----------- ---------------- ---------------
$0 18 Management Fees $0
- ------------ ------------ ----------- ---------------- ---------------
$0 19 Depreciation $159,065
- ------------ ------------ ----------- ---------------- ---------------
Taxes:
$346 ($346) 20 Employer Payroll Taxes $333,811
- ------------ ------------ ----------- ---------------- ---------------
$0 21 Real Property Taxes $12,760
- ------------ ------------ ----------- ---------------- ---------------
$225 ($225) 22 Other Taxes $26,995
- ------------ ------------ ----------- ---------------- ---------------
$0 23 Other Selling $931,305
- ------------ ------------ ----------- ---------------- ---------------
$12,428 ($12,428) 24 Other Administrative $840,017
- ------------ ------------ ----------- ---------------- ---------------
$0 25 Interest $777,750
- ------------ ------------ ----------- ---------------- ---------------
$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
- ------------ ------------ ----------- ---------------------------------------------- ---------------- ---------------
$37,098 $0 ($37,098) 35 TOTAL EXPENSES $10,762,693 $0
- ------------ ------------ ----------- ---------------- ---------------
($37,098) $0 ($37,098) 36 SUBTOTAL ($22,512,501) $0
- ------------ ------------ ----------- ---------------- ---------------
REORGANIZATION ITEMS:
($37,915) $37,915 37 Professional Fees ($7,180,330)
- ------------ ------------ ----------- ---------------- ---------------
$0 38 Provisions for Rejected Executory Contracts $0
- ------------ ------------ ----------- ---------------- ---------------
$47,229 $47,229 39 Interest Earned on Accumulated Cash from $865,101
- ------------ ------------ ----------- ---------------- ---------------
Resulting Chp 11 Case $0
---------------
$0 40 Gain or (Loss) from Sale of Equipment ($61,854,504)
- ------------ ------------ ----------- ---------------- ---------------
$0 41 U.S. Trustee Quarterly Fees ($69,500)
- ------------ ------------ ----------- ---------------- ---------------
$0 42 $0
- ------------ ------------ ----------- ---------------------------------------------- ---------------- ---------------
$9,314 $0 $9,314 43 TOTAL REORGANIZATION ITEMS ($68,239,233) $0
- ------------ ------------ ----------- ---------------- ---------------
($27,784) $0 ($27,784) 44 NET PROFIT (LOSS) BEFORE FEDERAL & STATE TAXES ($90,751,734) $0
- ------------ ------------ ----------- ---------------- ---------------
$0 45 Federal & State Income Taxes
- ------------ ------------ ----------- ---------------- ---------------
($27,784) $0 ($27,784) 46 NET PROFIT (LOSS) ($90,751,734) $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
CLAIMED ALLOWED
LIST TOTAL CLAIMS FOR EACH CLASSIFICATION - 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
==================== ====================
</Table>
STATEMENT OF CASH FLOWS
(OPTIONAL) INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS
FOR THE MONTH ENDED 10/31/05
-------------
ACTUAL CUMULATIVE
CASH FLOWS FROM OPERATING ACTIVITIES CURRENT MONTH (CASE TO DATE)
------------- --------------
1 Cash Received from Sales $7,993,352
--------------- ----------------
2 Rent/Leases Collected $615,220
--------------- ----------------
3 Interest Received & Other $998,194
--------------- ----------------
4 Cash Paid to Suppliers $1,638,489
--------------- ----------------
5 Cash Paid for Selling Expenses $821,150
--------------- ----------------
6 Cash Paid for Administrative Expenses $6,894 $884,500
--------------- ----------------
Cash Paid for Rents/Leases:
----------------
7 Personal Property $28,009
--------------- ----------------
8 Real Property $1,677,323
--------------- ----------------
9 Cash Paid for Interest $0
--------------- ----------------
10 Cash Paid for Net Payroll and Benefits $13,695 $2,053,836
--------------- ----------------
Cash Paid to Owner(s)/Officer(s) $0
----------------
11 Salaries $10,750 $753,851
--------------- ----------------
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 $346 $217,057
--------------- ----------------
17 Employee Withholdings $0
--------------- ----------------
18 Real Property Taxes $0
--------------- ----------------
19 Other Taxes (includes withholding taxes paid on UMC shares) $225 $3,295,953
--------------- ----------------
20 Cash Paid for General Expenses $16,075 $1,352,519
--------------- ----------------
21 Rebates $600,459
----------------------------------------------------------------------------------- --------------- ----------------
22
----------------------------------------------------------------------------------- --------------- ----------------
23
----------------------------------------------------------------------------------- --------------- ----------------
24
----------------------------------------------------------------------------------- --------------- ----------------
25
----------------------------------------------------------------------------------- --------------- ----------------
26
----------------------------------------------------------------------------------- --------------- ----------------
27 NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES BEFORE REORGANIZATION ITEMS ($47,986) ($3,716,381)
--------------- ----------------
CASH FLOWS FROM REORGANIZATION ITEMS
28 Interest Received on Cash Accumulated Due to Chp 11 Case $47,229 $865,101
--------------- ----------------
29 Professional Fees Paid for Services in Connection with Chp 11 Case $34,085 $7,489,969
--------------- ----------------
30 U.S. Trustee Quarterly Fees $4,500 $72,000
--------------- ----------------
31A KERP/PTO & Severance payments $3,000,000
--------------- ----------------
31B Net cash (received)/paid related to sold/discontinued product lines $0
----------------------------------------------------------------------------------- --------------- ----------------
32 NET CASH PROVIDED (USED) BY REORGANIZATION ITEMS $8,644 ($9,696,868)
---------------------------------
33 NET CASH PROVIDED (USED) FOR OPERATING ACTIVITIES AND REORGANIZATION ITEMS ($39,341) ($13,413,248)
--------------- ----------------
CASH FLOWS FROM INVESTING ACTIVITIES
34 Capital Expenditures $0
--------------- ----------------
35 Proceeds from Sales of Capital Goods due to Chp 11 Case $45,294,289
--------------- ----------------
36 Proceeds from UMC sales $64,842,259
----------------------------------------------------------------------------------- --------------- ----------------
37 NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES $0 $110,136,548
---------------------------------
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 $21,563,386
--------------- ----------------
42 $0
----------------------------------------------------------------------------------- --------------- ----------------
43 NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES $0 ($21,563,386)
---------------------------------
44 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS ($39,341) $75,159,914
--------------- ----------------
45 CASH AND CASH EQUIVALENTS AT BEGINNING OF MONTH $78,264,140 $3,064,884
--------------- ----------------
46 CASH AND CASH EQUIVALENTS AT END OF MONTH $78,224,799 $78,224,798
=================================
</Table>