Exhibit 99.1
United States Bankruptcy Court
Eastern District of Kentucky
Ashland Division
IN RE: CASE NO. 03-10078
DEBTOR(S) CHAPTER 11
Monthly Operating Report For Month Ending May 3, 2003
Comes now Kentucky Electric Steel, Inc., debtor in possession and herby
submits its Monthly Operating Report for the Periods commencing March 30, 2003
and ending May 3, 2003 as shown by the report and exhibits consisting of 29
pages and containing the following, as indicated:
___X____ Monthly Reporting Questionnaire (Attachment 1)
___X____ Comparative Balance Sheets (Forms OPR - 1 & OPR - 2)
___X____ Summary of Accounts Receivable (Form OPR - 3)
___X____ Schedule of Post - Petition Liabilities (Form OPR - 4)
___X____ Statement of Income (Loss) Form OPR - 5)
___X____ Statement of Sources and Uses of Cash (Form OPR - 6)
I declare under penalty of perjury that this report and all attachments are
true and correct to the best of my knowledge and belief. I also hereby certify
that the original Monthly Operating Report was filed with the Bankruptcy Court
Clerk and a copy was delivered to the U.S. Trustee.
Date: May 19, 2003 DEBTOR
------------
By: /s/ William J. Jessie
---------------------------------------
(Signature)
Name & Title: William J. Jessie, President
----------------------------
(Print or Type)
Address: US Route 60
---------------------------------
Ashland, KY 41101
---------------------------------
Telephone Number: (606) 929 - 1200
-------------------------
Attachment 1 (Page 1)
Chapter 11
Monthly Operating Report
Monthly Reporting Questionnaire
CASE NAME: Kentucky Electric Steel, Inc.
CASE NUMBER: 03-10078
MONTH OF: APRIL
1. Payroll - State the amount of all executive wages paid and taxes withheld and
paid (1)
Name and Title of Wages Paid Taxes (2)
------------------ ----------------
Executive Gross Net Due Paid
--------- ----- ----- ----- -----
William J. Jessie - $ 70,663 $44,724 $28,855 $28,415
(President and CFO)
- -------------------------------------------------------------------------------
William H. Gerak - 23,107 14,198 10,664 10,664
(Vice President of Administration)
- -------------------------------------------------------------------------------
Joseph E. Harrison - 23,655 14,459 11,000 11,000
(Vice President of Sales and Marketing)
- -------------------------------------------------------------------------------
Jack W. Mehalko -
(Interim President)
- -------------------------------------------------------------------------------
Total Executive Payroll: $117,425 $73,381 $50,519 $50,079
-------------------------------------
2. Insurance - Is workers' compensation and other insurance in effect? __Yes__
Are Payments Current? __YES__ If any policy has lapsed, been replaced or
renewed, state so in the schedule below. Attach a copy of the new policy's
binder pr cover page.
Name of Coverage Expiration Premium Date of Coverage Pd.
Type Carrier Amount Policy # Date Amount Through
- ---- ------- -------- -------- ---------- ------- -------------------
Casualty: _______________________________________________________________________
Workers Comp. _______________________________________________________________________
General Liability: _______________________________________________________________________
Vehicle: _______________________________________________________________________
Other (Specify) _______________________________________________________________________
_______________________________________________________________________
(1) Payroll for executives included salary and retention bonus pay during the
physical month of May.
(2) Taxes include payments made by the employer.
Attachment 1 (Page 2)
Chapter 11
Monthly Operating Report
Monthly reporting Questionnaire
CASE NAME: Kentucky Electric Steel, Inc.
CASE NUMBER: 03-10078
MONTH OF: APRIL
3. Bank Accounts
Account Type
---------------------------------------------------------
Operating Tax Payroll Other Total
------------- --------- -------------- ---------- -------
Bank Name See attached Exhibit A
------------- --------- -------------- ----------
Account #
------------- --------- -------------- ----------
Beginning Book
Balance
------------- --------- -------------- ---------- -------
Plus: Deposits
------------- --------- -------------- ---------- -------
Less: Disbursements
------------- --------- -------------- ---------- -------
Other:
Transfers
- -------------------- ------------- --------- -------------- ---------- -------
Ending Book Balance
------------- --------- -------------- ---------- -------
4. Postpetition Payments - List any postpetition payments to professionals
and payments on prepetition debts in the schedule below (attach separate sheet
if necessary)
Payments To
- ------------
Professionals (attorneys, accountants, etc.):
Amount Date Check #
-------------- ----------- ---------------------
- ------------------------------------- -------------- ----------- ---------------------
- ------------------------------------- -------------- ----------- ---------------------
- ------------------------------------- -------------- ----------- ---------------------
Total $ -
Prepetition Creditors:
AFCO - Credit Insurance $ 210,815 2-Apr-03 Wire Transfer
- ------------------------------------- -------------- ----------- ---------------------
Treas. Of Ky. - Unemployment 30,000 11-Apr-03 85354
- ------------------------------------- -------------- ----------- ---------------------
AFCO - Credit Insurance $ 210,815 30-Apr-03 Wire Transfer
- ------------------------------------- -------------- ----------- ---------------------
Revolving line of Credit
(National City & SunTrust) $ 1,230,797 Daily Swept out of Lockbox
- ------------------------------------- -------------- ----------- ---------------------
Senior Note
(Cigna & Modern Woodmen of America) $ 2,700,000 Daily Swept out of Lockbox
- ------------------------------------- -------------- ----------- ---------------------
Total $ 4,382,427
Kentucky Electric Steel, Inc.
Cash Summary for the Month Ending May 3, 2003
EXHIBIT A
Workers Health Cash Collateral Petty
Compensation Benefits Lockbox General Cash
---------------- -------------- --------------- ---------------- ------------
Bank Name National City National City National City National City KESI
Account # 754202055 754202063 754119200 70936836
98239
Beginning Book Balance $ 100,000 $ 455,000 $ 300,000 $(8,584,988) $ 400
Plus: Deposits - - 4,970,026 - -
Less: Disbursements - - - 660,540 -
Transfers/Other:
Transfers
Transfer to Professional Fees Account (21,515)
Transfer to Professional Fees Account (140,000)
Transfer to Professional Fees Account (18,989)
Transfer to Professional Fees Account (13,868)
Transfer to Professional Fees Account (15,103)
Transfer to Professional Fees Account (10,365)
Transfer to Professional Fees Account (7,841)
Transfer to Bank One Tax Account (50,000)
Transfer to Bank One Tax Account (30,000)
Transfer to Bank One Tax Account (15,684)
Transfer to Fifth Third Salary Account (20,000)
Transfer to Fifth Third Salary Account (17,473)
Transfer to Fifth Third Salary Account (4,758)
Transfer to Bank One Office Account (10,000)
Transfer to NCB Office Account
Other
Void Checks
Returned Cobra Payments (3,094)
Paydown on line/fund general account (4,970,026) 4,970,026
Paydown on senior notes (2,700,000)
--------- --------- --------- ------------ -----
Ending Book Balance $ 100,000 $ 455,000 $ 300,000 $ (7,354,192) $ 400
========= ========= ========= ============ =====
Triton/ Office Salary Hourly
Republic Note Tax/Other Account Payroll Payroll
----------------- --------------- --------------- ------------- --------------
Bank Name National City Bank One Bank One Fifth Third Fifth Third
Private Client
Group
Account # 4090-K001-00-7 626225676 626225320 73404006 73404022
626225668
Beginning Book Balance $ 137,671 $ 12,278 $ - $ 74,306 $ 31,777
Plus: Deposits - 17 - - -
Less: Disbursements - 107,687 - 111,220 893
Transfers/Other:
Transfers
Transfer to Professional Fees Account
Transfer to Professional Fees Account
Transfer to Professional Fees Account
Transfer to Professional Fees Account
Transfer to Professional Fees Account
Transfer to Professional Fees Account
Transfer to Professional Fees Account
Transfer to Bank One Tax Account 50,000
Transfer to Bank One Tax Account 30,000
Transfer to Bank One Tax Account 15,684
Transfer to Fifth Third Salary Account 20,000
Transfer to Fifth Third Salary Account 17,473
Transfer to Fifth Third Salary Account 4,758
Transfer to Bank One Office Account
Transfer to NCB Office Account (7,469) (32,319)
Other
Void Checks 2,152 1,435
Returned Cobra Payments
Paydown on line/fund general account
Paydown on senior notes
--------- --------- --------- -------- --------
Ending Book Balance $ 137,671 $ 292 $ - $ - $ -
========= ========= ========= ======== ========
Office Zero Balance Zero Balance Lease Payment
Account Health Benefit Workers Comp. Account
---------------- ------------------ ------------------- ----------------
Bank Name National City National City National City Fifth Third
Account # 39353008 70937158 70999943 73419056
Beginning Book Balance $ 176 $ - $ - $ -
Plus: Deposits - - - -
Less: Disbursements 16,445 - - -
Transfers/Other:
Transfers
Transfer to Professional Fees Account
Transfer to Professional Fees Account
Transfer to Professional Fees Account
Transfer to Professional Fees Account
Transfer to Professional Fees Account
Transfer to Professional Fees Account
Transfer to Professional Fees Account
Transfer to Bank One Tax Account
Transfer to Bank One Tax Account
Transfer to Bank One Tax Account
Transfer to Fifth Third Salary Account
Transfer to Fifth Third Salary Account
Transfer to Fifth Third Salary Account
Transfer to Bank One Office Account 10,000
Transfer to NCB Office Account 39,788
Other
Void Checks
Returned Cobra Payments
Paydown on line/fund general account
Paydown on senior notes
--------- --------- --------- --------
Ending Book Balance $ 33,519 $ - $ - $ -
========= ========= ========= ========
Health Benefit Professional Total
Disbursement Fees Account All Accounts
------------------ ---------------- --------------
Bank Name National City National City
Account # 754201570 754201618
Beginning Book Balance $ - $ 179,416 $(7,293,965)(1)
Plus: Deposits - - 4,970,043
Less: Disbursements - - 896,785
Transfers/Other:
Transfers
Transfer to Professional Fees Account 21,515 -
Transfer to Professional Fees Account 140,000 -
Transfer to Professional Fees Account 18,989 -
Transfer to Professional Fees Account 13,868 -
Transfer to Professional Fees Account 15,103 -
Transfer to Professional Fees Account 10,365 -
Transfer to Professional Fees Account 7,841 -
Transfer to Bank One Tax Account -
Transfer to Bank One Tax Account -
Transfer to Bank One Tax Account -
Transfer to Fifth Third Salary Account -
Transfer to Fifth Third Salary Account -
Transfer to Fifth Third Salary Account -
Transfer to Bank One Office Account -
Transfer to NCB Office Account -
Other
Void Checks 3,588
Returned Cobra Payments (3,094)
Paydown on line/fund general account (0)
Paydown on senior notes (2,700,000)
--------- --------- -------------
Ending Book Balance $ - $ 407,097 $ (5,920,213)
========= ========= =============
(1) The cash summary reconciles to the
Monthly Operating Report as follows:
March 29, 2003 May 3, 2003
------------- --------------
Cash $ 436,023 $ 578,979
Restricted Cash 855,000 855,000
------------- --------------
Total Cash $ 1,291,023 $ 1,433,979
============= ==============
The cash balance per this schedule
is as follows:
Total Cash per Above $ (7,293,965) $ (5,920,213)
Less: Amount
Reported as
Line of Credit (8,584,988) (7,354,192)
------------- --------------
Cash Balance $ 1,291,023 $ 1,433,979
============= ==============
CASE NAME: Kentucky
Electric Steel, Inc. COMPARATIVE BALANCE SHEET FORM OPR - 1
REV 2/90
CASE NUMBER: 03-10078 MONTH ENDED: APRIL
February 5, March 1, March 29, May 3,
2003 2003 2003 2003
ASSETS
CURRENT ASSETS
Other Negotiable instruments (i.e.. CD's T-Bills) $ - $ - $ - $ -
---------------- --------------- -------------- --------------
Accounts receivable (See OPR - 3) 9,734,029 8,478,039 5,972,687 2,842,297
---------------- --------------- -------------- --------------
Less allowance for doubtful accounts - - - -
---------------- --------------- -------------- --------------
Inventory, at lower of cost or market 10,346,543 7,815,001 2,462,067 -
---------------- --------------- -------------- --------------
Prepaid expenses and deposits 2,813,034 2,462,924 1,881,542 1,811,666
---------------- --------------- -------------- --------------
Investments - - - -
---------------- --------------- -------------- --------------
Other: Operating Supplies, rolls, molds, etc. 4,203,699 4,203,699 4,203,699 4,203,699
---------------- --------------- -------------- --------------
Cash and Restricted cash 1,092,575 1,931,782 1,291,023 1,433,979
---------------- --------------- -------------- --------------
Other Assets 64,794 61,294 60,935 50,953
---------------- --------------- -------------- --------------
TOTAL CURRENT ASSETS $ 28,254,674 $ 24,952,739 $ 15,871,953 $ 10,342,594
---------------- --------------- -------------- --------------
PROPERTY PLANT AND EQUIPMENT, $ - $ - $ - $ -
AT COST ---------------- --------------- -------------- --------------
Less accumulated depreciation - - - -
---------------- --------------- -------------- --------------
NET PROPERTY PLANT AND EQUIPMENT 19,452,338 19,452,338 19,452,338 19,452,338
---------------- --------------- -------------- --------------
Other non current assets 307,958 304,232 260,771 260,771
---------------- --------------- -------------- --------------
Deferred finance charges 558,815 - - -
---------------- --------------- -------------- --------------
TOTAL ASSETS $ 48,573,785 $ 44,709,309 $ 35,585,062 $ 30,055,703
---------------- --------------- -------------- --------------
* Itemize if value of "Other Assets" exceed 10% of "Total Assets."
CASE NAME: Kentucky
Electric Steel, Inc. COMPARATIVE BALANCE SHEET FORM OPR - 2
REV 2/90
CASE NUMBER: 03-10078 MONTH ENDED: APRIL
February 5, March 1, March 29, May 3,
2003 2003 2003 2003
LIABILITIES
POST PETITION LIABILITIES $ 204,746 $ 702,564 $ 947,405 $ 1,111,679
------------ ------------ ------------ ------------
PRE PETITION LIABILITIES
------------ ------------ ------------ ------------
Priority Debt 2,629,975 2,592,107 2,098,489 2,068,489
------------ ------------ ------------ ------------
Secured Debt 30,530,705 27,658,910 23,544,655 19,613,859
------------ ------------ ------------ ------------
Unsecured Debt 9,426,688 9,433,310 8,691,905 8,301,017
------------ ------------ ------------ ------------
TOTAL PRE PETITION LIABILITIES $ 42,587,368 $ 39,684,328 $ 34,335,049 $ 29,983,364
------------ ------------ ------------ ------------
TOTAL LIABILITIES $ 42,792,114 $ 40,386,892 $ 35,282,454 $ 31,095,043
------------ ------------ ------------ ------------
SHAREHOLDERS' EQUITY (DEFICIT)
PREFERRED STOCK $ - $ - $ -
------------ ------------ ------------ ------------
COMMON STOCK 50,516 50,516 50,516 50,516
------------ ------------ ------------ ------------
PAID-IN CAPITAL 15,817,342 15,817,342 15,817,342 15,817,342
------------ ------------ ------------ ------------
TREASURY STOCK (4,309,397) (4,309,397) (4,309,397) (4,309,397)
------------ ------------ ------------ ------------
RETAINED EARNINGS
------------ ------------ ------------ ------------
Through filing date (5,776,790) (5,776,790) (5,776,790) (5,776,790)
------------ ------------ ------------ ------------
Post filing date - (1,459,254) (5,479,063) (6,821,011)
------------ ------------ ------------ ------------
TOTAL SHAREHOLDERS' EQUITY $ 5,781,671 $ 4,322,417 $ 302,608 $( 1,039,340)
------------ ------------ ------------ ------------
TOTAL LIABILITIES AND
SHAREHOLDERS' EQUITY $ 48,573,785 $ 44,709,309 $ 35,585,062 $ 30,055,703
------------ ------------ ------------ ------------
CASE NAME: Kentucky
Electric Steel, Inc. SUMMARY OF ACCOUNTS RECEIVABLE FORM OPR - 3
REV 2/90
CASE NUMBER: 03-10078 MONTH ENDED: APRIL
(1) (1) (1) (1)
TOTAL CURRENT 1 - 30 DAYS 31 - 60 DAYS OVER 60 DAYS
PAST DUE PAST DUE PAST DUE
DATE OF FILING: FEBRUARY 5, 2003 $ 10,089,029 $ 7,974,031 $ 1,611,266 $ 479,232 $ 24,500
------------------ --------------- ------------ ------------- ------------- -------------
Allowance for doubtful accounts $ (355,000)
--------------- ------------ ------------- ------------- -------------
Net accounts receivable $ 9,734,029
===============
MONTH: FEBRUARY - (March 1) $ 8,848,039 $ 6,254,947 $ 2,046,099 $ 435,313 $ 111,680
---------------------- --------------- ------------ ------------- ------------- -------------
Allowance for doubtful accounts $ (370,000)
--------------- ------------ ------------- ------------- -------------
Net accounts receivable $ 8,478,039
===============
MONTH: MARCH - (March 29) $ 6,357,687 $ 2,637,537 $ 2,788,675 $ 684,222 $ 247,253
------------------------- --------------- ------------ ------------- ------------- -------------
Allowance for doubtful accounts $ (385,000)
--------------- ------------ ------------- ------------- -------------
Net accounts receivable $ 5,972,687
===============
MONTH: APRIL - (May 3) $ 3,227,297 $ 758,907 $ 1,156,614 $ 637,812 $ 673,964
------------------------- --------------- ------------ ------------- ------------- -------------
Allowance for doubtful accounts $ (385,000)
--------------- ------------ ------------- ------------- -------------
Net accounts receivable $ 2,842,297
===============
NOTE: Total accounts receivable net of allowance for doubtful accounts shown
here must agree to Form OPR - 1.
(1) The Company sells to customers on various terms including 30 days, 45 days
and 60 days. The aging reports are prepared showing current, 1 - 30 days
past due, 31 - 60 days past due and over 60 days past due.
CASE NAME: Kentucky
Electric Steel, Inc. SUMMARY OF POST PETITION LIABILITIES FORM OPR - 4
REV 2/90
CASE NUMBER: 03-10078 MONTH ENDED: APRIL
DATE DATE TOTAL AMOUNT 0 - 30 31 - 60 61 - 90 OVER
INCURRED DUE DUE DAYS DAYS DAYS 90 DAYS
TAXES PAYABLE
Federal Income Tax
-------- ------ ------------- ----------- --------- --------- ----------
FICA - Employer's Share
-------- ------ ------------- ----------- --------- --------- ----------
FICA - Employee's Share
-------- ------ ------------- ----------- --------- --------- ----------
Unemployment Tax
-------- ------ ------------- ----------- --------- --------- ----------
Sales Tax
-------- ------ ------------- ----------- --------- --------- ----------
Property Tax
-------- ------ ------------- ----------- --------- --------- ----------
TOTAL TAXES PAYABLE $ 77,506 $ 77,506 $ - $ - $ -
-------- ------ ------------- ----------- --------- --------- ----------
POSTPETITION SECURED DEBT See attached Exhibit B
-------- ------ ------------- ----------- --------- --------- ----------
POSTPETITION UNSECURED DEBT
-------- ------ ------------- ----------- --------- --------- ----------
ACCRUED INTEREST PAYABLE
-------- ------ ------------- ----------- --------- --------- ----------
TRADE ACCOUNTS PAYABLE & OTHER:
(list separately)
Total Trade & Other Accounts Payable $1,034,173 $ 821,889 $111,641 $ 100,357
------------------------------------ -------- ------ ------------- ----------- --------- --------- ----------
See attached Exhibit C
------------------------------------ -------- ------ ------------- ----------- --------- --------- ----------
------------------------------------ -------- ------ ------------- ----------- --------- --------- ----------
------------------------------------ -------- ------ ------------- ----------- --------- --------- ----------
------------------------------------ -------- ------ ------------- ----------- --------- --------- ----------
------------------------------------ -------- ------ ------------- ----------- --------- --------- ----------
TOTALS $1,111,679 $ 899,394 $111,641 $ 100,357 -
-------- ------ ------------- ----------- --------- --------- ----------
Attach separate page if necessary.
Note: Total postpetition liabilities shown here must agree with the same item as
shown on Form OPR-2.
Exhibit B
Kentucky Electric Steel, Inc.
Summary of Post Petition Liabilities - Taxes Payable
May 3, 2003
DATE DATE TOTAL 0-30 31-60 61-90 OVER
INCURRED DUE DUE DAYS DAYS DAYS 90 DAYS
TAXES PAYABLE
Federal Income Tax
Salary P/R - Retention Bonus 05/02/03 05/07/03 $ 1,362 $ 1,362 $ - $ - $ -
FICA - Employer's Share
Salary P/R - Retention Bonus 05/02/03 05/07/03 214 214 $ - $ - $ -
FICA - Employee's Share
Salary P/R - Retention Bonus 05/02/03 05/07/03 214 214 $ - $ - $ -
Sales Tax
February 04/30/03 05/25/03 7,937 7,937 $ - $ - $ -
Property Tax
2003 Prop. Tax Accrual (3 months) 02/05/03 12/31/03 55,000 55,000 $ - $ - $ -
Kentucky Income Tax
Salary P/R - Retention Bonus 05/02/03 05/25/03 278 278 - - -
Kentucky license Tax (3 months) 02/05/03 Various 5,000 5,000 $ - $ - $ -
Deleware Franchise Tax (3 months) 02/05/03 Various 7,500 7,500 $ - $ - $ -
--------- --------- --- --- ---
TOTAL TAXES PAYABLE $ 77,506 $ 77,506 $ - $ - $ -
========= ========= === === ===
POSTPETITION SECURED DEBT - - - - -
POSTPETITION UNSECURED DEBT - - - - -
ACCRUED INTEREST PAYABLE - - - - -
Exhibit C
Kentucky Electric Steel, Inc.
Summary of Post Petition Liabilities - Trade Accounts Payables and Others
May 3, 2003
DATE DATE TOTAL 0-30 31-60 61-90 OVER
Accounts Payable INCURRED DUE DUE DAYS DAYS DAYS 90 DAYS
- ---------------- -------- --- --- ---- ---- ---- -------
Trade Accounts Payable
IVS Hyrdo 03/14/03 04/14/03 $ 2,175 $ - $ 2,175 $ - $ -
Hewlett-Packard Company 04/29/03 05/29/03 2,179 2,179 - - -
IBM Corporation 04/13/03 05/13/03 2,132 2,132 - - -
IBM Corporation 04/13/03 05/13/03 1,382 1,382 - - -
IKON Office Solutions 04/29/03 05/09/03 19 19 - - -
Browning Ferris Industries 05/01/03 05/31/03 67 73 - -
IKON Office Solutions 04/30/03 05/10/03 637 344 - - -
The Reserves Network 04/29/03 05/29/03 1,113 1,113 - - -
The Reserves Network 05/06/03 06/05/03 778 778 - - -
The Wackenhut Corporation 04/27/03 05/27/03 1,069 1,069 - - -
The Wackenhut Corporation 05/04/03 06/03/03 1,069 1,069 - - -
BHE Environmental, Inc. 05/06/03 06/05/03 4,306 4,306 - - -
Marcum Material Handling 05/05/03 06/05/03 850 850 - - -
NationsRent 05/07/03 06/06/03 3,078 3,078 - - -
A T & T 05/01/03 05/01/03 2,835 2,835 - - -
Alltel 05/12/03 05/27/03 208 208 - - -
IBM Corporation 04/13/03 05/13/03 1,382 1,382 - - -
Lightyear Statement 05/01/03 05/31/03 697 697 - - -
Core Risk Services 05/03/03 06/04/03 2,028 2,028 - - -
Ashland Office Supply 04/08/03 05/08/03 1,040 1,040 - - -
Custom Data Services 05/09/03 05/19/03 216 216 - - -
CSX 04/04/03 04/19/03 25,000 25,000 - - -
American Electric Power 05/03/03 05/15/03 21,000 21,000
All Crane and Equipment Rental 05/02/03 05/05/03 14,310 14,310
------- ------- ------- ------- -------
Trade Accounts Payable $ 89,568 $ 87,106 $ 2,175 $ - $ -
------- ------- ------- ------- -------
Other
Accrued Health Benefits 03/28/03 TBD 70,000 70,000 - - -
Accrued Professional Fees 02/05/03 TBD 555,317 555,317 - - -
Accrued Line of Credit Fee 03/28/03 TBD - - - - -
Accrued sales leaseback transaction 03/28/03 TBD 319,289 109,466 109,466 100,357 -
------- ------- ------- ------- -------
Other Accounts Payable $ 944,606 $ 734,783 $109,466 $100,357 $ -
------- ------- ------- ------- -------
------- ------- ------- ------- -------
Total Accounts Payable $1,034,173 $ 821,889 $111,641 $100,357 $ -
------- ------- ------- ------- -------
CASE NAME: Kentucky
Electric Steel, Inc. STATEMENT OF INCOME (LOSS) FORM OPR - 5
REV 2/90
CASE NUMBER: 03-10078 MONTH ENDED: APRIL
FILING
FEBRUARY MARCH APRIL TO DATE
NET REVENUE (INCOME) $ 2,600,739 $ 2,370,145 $ 1,782,455 $ 6,753,339
-------------- -------------- -------------- -------------
COST OF GOODS SOLD
Materials - - - -
-------------- -------------- -------------- -------------
Labor - Direct - - - -
-------------- -------------- -------------- -------------
Manufacturing Overhead - - - -
-------------- -------------- -------------- -------------
TOTAL COST OF GOODS SOLD (3,089,476) (6,532,328) (2,521,368) (12,143,172)
-------------- -------------- -------------- -------------
GROSS PROFIT - - - -
-------------- -------------- -------------- -------------
OPERATING EXPENSES - - - -
-------------- -------------- -------------- -------------
Selling and Marketing - - - -
-------------- -------------- -------------- -------------
General and Administrative (370,304) (393,192) (600,050) (1,363,546)
-------------- -------------- -------------- -------------
Other: - -
--------------------- -------------- -------------- -------------- -------------
TOTAL OPERATING EXPENSES $ (370,304) $ (393,192) $ (600,050) (1,363,546)
INCOME BEFORE INTEREST, DEPRECIATION
TAXES OR EXTRAORDINARY EXPENSES $ (859,041) $ (4,555,375) $ (1,338,963) $ (6,753,379)
-------------- -------------- -------------- -------------
INTEREST EXPENSE (2,060) (2,403) (2,987) (7,450)
-------------- -------------- -------------- -------------
MISCELLANEOUS - - 2 2
-------------- -------------- -------------- -------------
DEPRECIATION - - - -
-------------- -------------- -------------- -------------
INCOME TAX EXPENSE (BENEFIT) - - - -
-------------- -------------- -------------- -------------
WRITE-OFF OF DEFERRED FINANCING FEE (545,404) - - (545,404)
-------------- -------------- -------------- -------------
WRITE-OFF OF OTHER DEFERRED CHARGES (52,749) - - (52,749)
-------------- -------------- -------------- -------------
EXTRAORDINARY INCOME (EXPENSE) (1) - 537,969 - 537,969
-------------- -------------- -------------- -------------
NET INCOME (LOSS) $ (1,459,254) $(4,019,809) $(1,341,948) $(6,821,011)
============== ============== ============== =============
(1) Amount is a non-cash item representing the write-off of unrecognized gain on
sale and leaseback transaction.
CASE NAME: Kentucky
Electric Steel, Inc. STATEMENT OF SOURCES AND USES OF CASH FORM OPR - 6
CASE NUMBER: 03-10078 MONTH ENDED: APRIL REV 2/90
FILING
FEBRUARY MARCH APRIL TO DATE
SOURCES OF CASH
Income (Loss) From Operations $ (1,459,254) $(4,019,809) $(1,341,948) $ (6,821,011)
----------- ----------- ----------- -----------
Add: Depreciation, Amortization
& Other Non-Cash Items 558,815 (537,969) - 20,846
----------- ----------- ----------- -----------
CASH GENERATED FROM OPERATIONS (900,439) (4,557,778) (1,341,948) (6,800,165)
----------- ----------- ----------- -----------
Add: Decrease in Assets:
Accounts Receivable 1,259,490 2,505,711 3,140,372 6,905,573
----------- ----------- ----------- -----------
Inventory 2,531,542 5,352,934 2,462,067 10,346,543
----------- ----------- ----------- -----------
Prepaid Expenses & Deposits 350,110 581,381 69,875 1,001,366
----------- ----------- ----------- -----------
Property, Plant & Equipment - - - -
----------- ----------- ----------- -----------
Other: Change in Other Long-Tem Assets 3,726 43,461 - 47,187
----------- ----------- ----------- -----------
Increase in Liabilities:
Pre Petition Liabilities - - - -
----------- ----------- ----------- -----------
Post Petition Liabilities 497,818 244,841 164,274 906,933
----------- ----------- ----------- -----------
TOTAL SOURCES OF CASH (A) $ 3,742,247 $ 4,170,550 $ 4,494,641 $12,407,438
----------- ----------- ----------- -----------
USES OF CASH
Increase in Assets:
Accounts Receivable $ - $ - $ - $ -
----------- ----------- ----------- -----------
Inventory - - - -
----------- ----------- ----------- -----------
Prepaid Expenses & Deposits - - - -
----------- ----------- ----------- -----------
Property, Plant & Equipment - - - -
----------- ----------- ----------- -----------
Other accured expenses - -
----------- ----------- ----------- -----------
Decrease in Liabilities:
Pre Petition Liabilities $ 2,903,040 $ 4,811,310 $ 4,351,685 $12,066,035
----------- ----------- ----------- -----------
Post Petition Liabilities - -
----------- ----------- ----------- -----------
TOTAL USES OF CASH (B) $ 2,903,040 $ 4,811,310 $ 4,351,685 $12,066,035
----------- ----------- ----------- -----------
NET SOURCE (USE) OF CASH (A-B=NET) $ 839,207 $ (640,760) $ 142,956 $ 341,404
----------- ----------- ----------- -----------
CASH - BEGINNING BALANCE (See OPR-1) $ 1,092,575 $ 1,931,782 $ 1,291,022 $ 1,092,575
----------- ----------- ----------- -----------
CASH - ENDING BALANCE (See OPR-1) $ 1,931,782 $ 1,291,022 $ 1,433,979 $ 1,433,979
=========== =========== =========== ===========
CASE NAME: Kentucky Electric Steel, Inc.
CASE NUMBER: 03-10078
CASH DISBURSEMENT DETAIL
Date Payee Amount
- ----------------- --------------------------------------------- ------------
Account #70936836 & 98239
3/31/2003 IBM Auto Wire $ 2,275
4/2/2003 Wire Transfer - AFCO Credit 100,000
4/2/2003 Wire Transfer - AFCO Credit 110,815
4/2/2003 NCB Line of Credit Fee 3,030
4/11/2003 Alltel 101
4/11/2003 AT&T 2,428
4/11/2003 Boyd Co United Way 40
4/11/2003 Browning Ferris Ind 361
4/11/2003 CNA 747
4/11/2003 Cannonsburg Water District 4,890
4/11/2003 At&T Wireless Service 189
4/11/2003 Collier Shannon Scott 344
4/11/2003 Columbia Gas Of Kentucky 17
4/11/2003 Community Trust Bank Na 50
4/11/2003 Ceridian Employer Services 954
4/11/2003 Core Risk Services 384
4/11/2003 CSX Transportation 2,370
4/11/2003 Custom Data Systems 180
4/11/2003 Department Of Tax And Revenue 1,009
4/11/2003 Farmer,Price,Hornsby & 90
4/11/2003 IBM Corporation 1,929
4/11/2003 IKON Office Solutions 655
4/11/2003 IOS Capital 379
4/11/2003 Kenesco Employees Credit Union 2,323
4/11/2003 American Electric Power 1,602
4/11/2003 Levee Lift Inc 5,830
4/11/2003 Metlife 24
4/11/2003 Professional Maintenance 1,239
4/11/2003 Reic 432
4/11/2003 The Reserves Network 2,450
4/11/2003 Storage On The Spot Inc. 466
4/11/2003 The Wackenhut Corporation 2,496
4/11/2003 Tres Of State Of Ohio 62
4/11/2003 Treasurer Ky Unemp. Ins Fund 38,267
4/23/2003 NCB Bank Charges 1,608
4/24/2003 American Electric Power 93,594
4/25/2003 Acorn Energy Services Inc 5,916
4/25/2003 Alltel 208
4/25/2003 Ashland Office Supply 114
4/25/2003 AT&T 1,168
4/25/2003 AT&T 23
4/25/2003 AT&T 1,053
4/25/2003 BHE Environmental Inc 4,361
4/25/2003 AT&T Wireless Service 1,349
4/25/2003 Collier Shannon Scott 275
4/25/2003 Columbia Gas Of Kentucky 4,613
4/25/2003 Ceridian Employer Services 162
4/25/2003 IBM Corporation 2,275
4/25/2003 IKON Office Solutions 424
4/25/2003 IOS Capital 2,231
4/25/2003 American Electric Power 964
4/25/2003 Lightyear Communications 1,272
4/25/2003 Marcum Material Handling 760
4/25/2003 Nations Rent 3,078
CASH DISBURSEMENT DETAIL
Date Payee Amount
- ----------------- --------------------------------------------- ------------
4/25/2003 Nelson Technologies Inc 1,590
4/25/2003 North American Steel Alliance 1,795
4/25/2003 The Reserves Network 3,255
4/25/2003 The Wackenhut Corporation 2,122
4/25/2003 Xerox Corp 99
4/30/2003 IBM Auto Wire 2,275
4/30/2003 Wire Transfer - AFCO Credit 100,000
4/30/2003 Wire Transfer - AFCO Credit 110,815
5/2/2003 Southern Alloy 288
5/2/2003 Alltel 5,315
5/2/2003 Alltel 101
5/2/2003 Cna 481
5/2/2003 Cannonsburg Water District 4,890
5/2/2003 Ceridian Employer Services 283
5/2/2003 Department Of Tax And Revenue 324
5/2/2003 American Electric Power 102
5/2/2003 Levee Lift Inc 5,830
5/2/2003 Metlife 12
5/2/2003 PBCC 69
5/2/2003 The Reserves Network 798
5/2/2003 Richeys 45
5/2/2003 Storage On The Spot Inc. 466
5/2/2003 The Wackenhut Corporation 3,978
5/2/2003 U.S. Trustee 250
5/2/2003 Unity Communications Inc 1,248
Various FedEx 231
--------------------
$ 660,540
--------------------
Account 626225676 & 626225668
3/12/2003 Bank Service Charge - Feb $ 161
3/31/2003 Manual Check to Ruby Yates 613
3/31/2003 Bank Service Charge - Feb 6
4/1/2003 Wire Transfer - Sales and Use Tax - (March) 5,800
4/2/2003 Transfer 941 P/R Taxes Hourly Deposit # 8 6,677
4/2/2003 Transfer 941 P/R Taxes Hourly Deposit # 8 28,406
4/2/2003 Transfer 941 P/R Taxes Hourly Deposit # 8 6,677
4/2/2003 Transfer 941 P/R Taxes Hourly Deposit # 7 2,842
4/2/2003 Transfer 941 P/R Taxes Hourly Deposit # 7 6,167
4/2/2003 Transfer 941 P/R Taxes Hourly Deposit # 7 2,842
4/2/2003 Transfer 941 P/R Taxes Hourly Deposit # 6 155
4/2/2003 Transfer 941 P/R Taxes Hourly Deposit # 6 174
4/2/2003 Transfer 941 P/R Taxes Hourly Deposit # 6 155
4/10/2003 Wire Transfer - Sales and Use Tax - (April) 7,782
4/10/2003 Transfer KIT Withholding 17,576
4/10/2003 Bank Service Charge - March 60
4/18/2003 Transfer 941 P/R Taxes Hourly Deposit # 1 1,650
4/18/2003 Transfer 941 P/R Taxes Hourly Deposit # 1 4,805
4/18/2003 Transfer 941 P/R Taxes Hourly Deposit # 1 1,650
4/18/2003 Transfer 1st Qrt 2003 Fed Unemployemnt Tax 4,179
4/18/2003 Transfer KIT Withholding 1,256
4/23/2003 Transfer 941 P/R Taxes Hourly Deposit # 2 343
4/23/2003 Transfer 941 P/R Taxes Hourly Deposit # 2 1,460
4/23/2003 Transfer 941 P/R Taxes Hourly Deposit # 2 343
4/30/2003 Transfer 941 P/R Taxes Hourly Deposit # 3 866
4/30/2003 Transfer 941 P/R Taxes Hourly Deposit # 3 3,122
CASH DISBURSEMENT DETAIL
Date Payee Amount
- ----------------- --------------------------------------------- ------------
4/30/2003 Transfer 941 P/R Taxes Hourly Deposit # 3 866
4/30/2003 Transfer KIT Withholding 1,057
----------------------
$ 107,687
----------------------
Account #73404006
3/31/2003 Salary Payroll - Retention Bonus $ 63,973
3/31/2003 Salary Payroll 24,740
4/15/2003 Salary Payroll 17,473
4/18/2003 Salary Payroll 4,467
5/2/2003 Bank Service Charge - March and April 566
---------------------
$ 111,220
---------------------
Account #73404022
5/2/2003 Bank Service Charge - March and April $ 893
-----------------------
$ 893
-----------------------
Account # 39353008
4/3/2003 Jeb Ryder $ 1,080
4/7/2003 Jeb Ryder 240
4/7/2003 Ruby Yates 240
4/30/2003 Payroll - Salaried 11,506
5/2/2003 Payroll - Retention Bonus 3,379
-----------------------
$ 16,445
-----------------------
-----------------------
Total $ 896,785
=======================
CASE NAME: Kentucky Electric Steel, Inc.
CASE NUMBER: 03-10078
CASH RECEIPTS DETAIL
Date Payee Amount
- ------------------ ------------------------------------ --------------------
Account #754119200
4/7/2003 A M Castle Hy Alloy Steel $ 2,749
4/7/2003 A M Castle Hy Alloy Steel 2,749
4/7/2003 A M Castle Hy Alloy Steel 2,749
4/7/2003 A M Castle Hy Alloy Steel 2,259
4/2/2003 Alro Steel Corp 20,806
4/2/2003 Alro Steel Corp 17,046
4/2/2003 Alro Steel Corp 3,546
4/2/2003 Alro Steel Corp 15,200
4/2/2003 Alro Steel Corp 1,294
4/2/2003 Alro Steel Corp 1,517
4/2/2003 Alro Steel Corp 1,310
4/2/2003 Alro Steel Corp 864
4/2/2003 Alro Steel Corp 2,649
4/2/2003 Alro Steel Corp 2,649
5/1/2003 Alro Steel Corp 729
5/1/2003 Alro Steel Corp 7,104
4/1/2003 American Compressed 280,334
4/4/2003 American Compressed 205,654
4/7/2003 American Compressed 51,827
4/8/2003 American Compressed 137,773
4/9/2003 American Compressed 35,587
4/10/2003 American Compressed 155,467
4/1/2003 Atlantic Broom Service Inc 7,223
4/1/2003 Atlantic Broom Service Inc 7,833
4/1/2003 Atlantic Broom Service Inc 7,799
4/1/2003 Atlantic Broom Service Inc 7,280
4/7/2003 Beall Manufacturing 3,576
4/9/2003 Beall Manufacturing 8,865
4/21/2003 Beall Manufacturing 7,346
4/25/2003 Beall Manufacturing 2,169
5/2/2003 Beall Manufacturing 8,513
4/2/2003 Benjamin Steel 785
4/2/2003 Benjamin Steel 1,532
4/2/2003 Benjamin Steel 1,148
4/2/2003 Benjamin Steel 1,914
4/2/2003 Benjamin Steel 2,530
4/22/2003 Benjamin Steel 714
4/22/2003 Benjamin Steel 510
4/22/2003 Benjamin Steel 367
4/22/2003 Benjamin Steel 1,836
4/22/2003 Benjamin Steel 734
4/22/2003 Benjamin Steel 736
4/22/2003 Benjamin Steel 1,754
4/23/2003 Benjamin Steel 5,128
4/3/2003 Bill Gerak 6,300
4/3/2003 Bill Gerak 3,683
4/2/2003 Bucyrus Blades Incorporated 6,456
5/2/2003 Bucyrus Blades Incorporated 5,661
5/2/2003 Bucyrus Blades Incorporated 5,661
5/2/2003 Bucyrus Blades Incorporated 5,661
4/23/2003 Cascade Corporation 11,288
4/28/2003 Ceco Buildings - Eastern 3,421
CASH RECEIPTS DETAIL
Date Payee Amount
- ------------------ ------------------------------------ --------------------
4/28/2003 Ceco Buildings - Eastern 815
4/28/2003 Ceco Buildings - Eastern 2,492
4/28/2003 Ceco Buildings - Eastern 2,161
4/28/2003 Ceco Buildings - Eastern 4,926
4/28/2003 Ceco Buildings - Eastern 2,158
4/28/2003 Ceco Buildings - Eastern 2,054
4/2/2003 Ceco Buildings - Southern 2,270
4/2/2003 Ceco Buildings - Southern 2,295
4/23/2003 Ceco Buildings - Southern 3,156
4/2/2003 Central Steel And Wire Co Il 5,282
4/2/2003 Central Steel And Wire Co Il 3,704
4/2/2003 Central Steel And Wire Co Il 863
4/2/2003 Central Steel And Wire Co Il 705
4/2/2003 Central Steel And Wire Co Il 638
4/2/2003 Central Steel And Wire Co Il 4,405
4/2/2003 Central Steel And Wire Co Il 5,428
4/2/2003 Central Steel And Wire Co Il 5,441
4/2/2003 Central Steel And Wire Co Il 3,982
4/2/2003 Central Steel And Wire Co Il 2,772
4/2/2003 Central Steel And Wire Co Il 5,057
4/2/2003 Central Steel And Wire Co Il 377
4/2/2003 Contractors Steel Company 8,756
4/2/2003 Contractors Steel Company 2,310
4/2/2003 Contractors Steel Company 6,426
4/2/2003 Contractors Steel Company 6,481
4/2/2003 Contractors Steel Company 6,569
4/2/2003 Contractors Steel Company 5,783
4/2/2003 Contractors Steel Company 7,462
4/2/2003 Contractors Steel Company 6,129
4/2/2003 Contractors Steel Company 6,151
4/2/2003 Contractors Steel Company 6,150
4/2/2003 Contractors Steel Company 7,269
4/2/2003 Contractors Steel Company 5,288
4/2/2003 Contractors Steel Company 6,036
4/2/2003 Contractors Steel Company 10,948
4/2/2003 Contractors Steel Company 5,741
4/2/2003 Contractors Steel Company 5,288
4/2/2003 Contractors Steel Company 5,552
4/2/2003 Contractors Steel Company 5,686
4/2/2003 Contractors Steel Company 6,316
4/2/2003 Contractors Steel Company 459
4/2/2003 Contractors Steel Company 7,930
4/2/2003 Contractors Steel Company 5,475
5/1/2003 Contractors Steel Company 5,046
5/1/2003 Contractors Steel Company 9,584
5/1/2003 Contractors Steel Company 5,451
5/1/2003 Contractors Steel Company 5,484
5/1/2003 Contractors Steel Company 5,982
5/1/2003 Contractors Steel Company 5,647
5/1/2003 Contractors Steel Company 5,495
5/1/2003 Contractors Steel Company 5,145
5/1/2003 Contractors Steel Company 5,586
4/1/2003 Crawford Metal Corporation 1,518
CASH RECEIPTS DETAIL
Date Payee Amount
- ------------------ ------------------------------------ --------------------
4/1/2003 Crawford Metal Corporation 1,147
4/1/2003 Crawford Metal Corporation 3,617
4/2/2003 Crown Steel Sales Inc 3,513
4/2/2003 Crown Steel Sales Inc 3,685
4/2/2003 Crown Steel Sales Inc 1,334
4/22/2003 Crown Steel Sales Inc 7,482
4/22/2003 Crown Steel Sales Inc 3,012
4/22/2003 Crown Steel Sales Inc 1,740
4/7/2003 Crucible Speciality Metal Co 7,547
4/7/2003 Crucible Speciality Metal Co 10,188
4/7/2003 Crucible Speciality Metal Co 4,392
4/7/2003 Crucible Speciality Metal Co 5,003
4/22/2003 Dakota Manufacturing Co 4,847
4/7/2003 Dayton Parts 5,272
4/7/2003 Dayton Parts 3,422
4/7/2003 Dayton Parts 6,412
4/7/2003 Dayton Parts 1,817
4/7/2003 Dayton Parts 1,124
4/7/2003 Dayton Parts 3,537
4/7/2003 Dayton Parts 3,558
4/7/2003 Dayton Parts 8,071
4/7/2003 Dayton Parts 8,141
4/7/2003 Dayton Parts 8,904
4/7/2003 Dayton Parts 9,132
4/7/2003 Dayton Parts 8,543
4/7/2003 Dayton Parts 8,978
4/7/2003 Dayton Parts 8,082
4/15/2003 Debro Steel 6,057
4/15/2003 Debro Steel 1,248
4/15/2003 Debro Steel 6,323
4/15/2003 Debro Steel 6,323
4/15/2003 Debro Steel 1,714
4/15/2003 Debro Steel 6,536
4/9/2003 Denman And Davis 5,583
4/21/2003 Doepker Industries 5,629
4/21/2003 Doepker Industries 1,732
4/21/2003 Doepker Industries 2,886
4/11/2003 Earle M Jorgensen Co (Emj) 12,325
4/23/2003 Earle M Jorgensen Co 12,203
4/4/2003 Earle M Jorgensen Co 11,968
CASH RECEIPTS DETAIL
Date Payee Amount
- ------------------ ------------------------------------ --------------------
4/11/2003 Earle M Jorgensen Co 11,756
4/4/2003 Earle M Jorgensen Co 11,437
4/4/2003 Earle M Jorgensen Co 10,735
4/4/2003 Earle M Jorgensen Co 10,697
4/4/2003 Earle M Jorgensen Co 10,691
4/11/2003 Earle M Jorgensen Co (Emj) 10,534
4/21/2003 Earle M Jorgensen Co (Emj) 10,498
4/21/2003 Earle M Jorgensen Company 10,325
4/11/2003 Earle M Jorgensen Co 10,026
4/21/2003 Earle M Jorgensen Co (Emj) 9,746
4/21/2003 Earle M Jorgensen Company 9,407
4/21/2003 Earle M Jorgensen Company 9,312
4/4/2003 Earle M Jorgensen Co 9,257
4/4/2003 Earle M Jorgensen Co 8,827
4/4/2003 Earle M Jorgensen Co 8,667
4/21/2003 Earle M Jorgensen Company 8,376
4/23/2003 Earle M Jorgensen Co 8,203
4/21/2003 Earle M Jorgensen Company 8,175
4/4/2003 Earle M Jorgensen Co 7,883
4/11/2003 Earle M Jorgensen Co 7,824
4/4/2003 Earle M Jorgensen Co 7,771
4/21/2003 Earle M Jorgensen Company 7,701
4/23/2003 Earle M Jorgensen Co 7,668
4/21/2003 Earle M Jorgensen Company 7,563
4/23/2003 Earle M Jorgensen Co 7,507
4/23/2003 Earle M Jorgensen Co 7,412
4/4/2003 Earle M Jorgensen Co (Emj) 7,355
4/4/2003 Earle M Jorgenson Co (Emj) 7,337
4/23/2003 Earle M Jorgensen Co 7,229
4/11/2003 Earle M Jorgensen Co 7,212
4/4/2003 Earle M Jorgensen Co 7,141
4/11/2003 Earle M Jorgensen Co 7,134
4/11/2003 Earle M Jorgensen Co 7,060
4/21/2003 Earle M Jorgensen Company 7,049
4/4/2003 Earle M Jorgenson Co (Emj) 7,001
4/11/2003 Earle M Jorgensen Co 6,989
4/11/2003 Earle M Jorgensen Co 6,977
4/21/2003 Earle M Jorgensen Company 6,793
4/11/2003 Earle M Jorgensen Co 6,700
4/11/2003 Earle M Jorgenson Co (Emj) 6,584
4/11/2003 Earle M Jorgensen Co 6,565
4/11/2003 Earle M Jorgenson Co (Emj) 6,491
4/11/2003 Earle M Jorgensen Co (Emj) 6,388
4/21/2003 Earle M Jorgensen Company 6,377
4/4/2003 Earle M Jorgensen Co (Emj) 6,376
4/4/2003 Earle M Jorgensen Co 6,365
4/21/2003 Earle M Jorgensen Company 6,362
4/21/2003 Earle M Jorgensen Company 6,334
4/21/2003 Earle M Jorgensen Company 6,308
4/21/2003 Earle M Jorgensen Company 6,284
4/23/2003 Earle M Jorgensen Co 6,152
4/11/2003 Earle M Jorgensen Co 6,083
4/21/2003 Earle M Jorgensen Company 5,934
4/11/2003 Earle M Jorgensen Co (Emj) 5,915
4/23/2003 Earle M Jorgensen Co 5,836
4/11/2003 Earle M Jorgensen Co 5,774
4/11/2003 Earle M Jorgensen Co 5,773
4/23/2003 Earle M Jorgensen Co 5,657
4/4/2003 Earle M Jorgenson Co (Emj) 5,564
4/11/2003 Earle M Jorgensen Co 5,556
4/11/2003 Earle M Jorgensen Co 5,549
4/21/2003 Earle M Jorgensen Company 5,543
4/21/2003 Earle M Jorgensen Company 5,538
4/11/2003 Earle M Jorgensen Co 5,508
4/21/2003 Earle M Jorgensen Company 5,501
4/23/2003 Earle M Jorgensen Co 5,477
CASH RECEIPTS DETAIL
Date Payee Amount
- ------------------ ------------------------------------ --------------------
4/21/2003 Earle M Jorgenson Co (Emj) 5,437
4/11/2003 Earle M Jorgensen Co 5,343
4/23/2003 Earle M Jorgensen Co 5,337
4/11/2003 Earle M Jorgensen Co (Emj) 5,307
4/11/2003 Earle M Jorgensen Co 5,270
4/21/2003 Earle M Jorgensen Company 5,233
4/4/2003 Earle M Jorgensen Co (Emj) 5,211
4/11/2003 Earle M Jorgensen Co (Emj) 5,185
4/21/2003 Earle M Jorgensen Company 5,163
4/11/2003 Earle M Jorgensen Co (Emj) 5,065
4/21/2003 Earle M Jorgensen Company 4,920
4/11/2003 Earle M Jorgensen Co 4,905
4/23/2003 Earle M Jorgensen Co 4,896
4/21/2003 Earle M Jorgensen Company 4,786
4/21/2003 Earle M Jorgensen Company 4,628
4/11/2003 Earle M Jorgensen Co 4,602
4/11/2003 Earle M Jorgenson Co (Emj) 4,564
4/11/2003 Earle M Jorgensen Co 4,539
4/21/2003 Earle M Jorgensen Company 4,481
4/11/2003 Earle M Jorgensen Co 4,401
4/23/2003 Earle M Jorgensen Co 4,270
4/21/2003 Earle M Jorgensen Company 4,228
4/21/2003 Earle M Jorgensen Company 4,219
4/11/2003 Earle M Jorgensen Co 4,213
4/11/2003 Earle M Jorgensen Co 4,158
4/23/2003 Earle M Jorgensen Co 4,150
4/21/2003 Earle M Jorgensen Company 4,075
4/4/2003 Earle M Jorgensen Co (Emj) 4,053
4/11/2003 Earle M Jorgensen Co (Emj) 3,975
4/11/2003 Earle M Jorgenson Co (Emj) 3,968
4/23/2003 Earle M Jorgensen Co 3,757
4/11/2003 Earle M Jorgensen Co (Emj) 3,725
4/11/2003 Earle M Jorgensen Co 3,715
4/23/2003 Earle M Jorgensen Co 3,701
4/11/2003 Earle M Jorgensen Co 3,677
4/21/2003 Earle M Jorgensen Company 3,675
4/23/2003 Earle M Jorgensen Co (Emj) 3,628
4/23/2003 Earle M Jorgensen Co (Emj) 3,487
4/4/2003 Earle M Jorgensen Co (Emj) 3,467
4/11/2003 Earle M Jorgensen Co 3,439
4/23/2003 Earle M Jorgensen Co 3,347
4/11/2003 Earle M Jorgensen Co 3,270
4/21/2003 Earle M Jorgensen Company 3,112
4/11/2003 Earle M Jorgensen Co (Emj) 3,106
4/21/2003 Earle M Jorgensen Company 3,082
4/21/2003 Earle M Jorgensen Company 3,067
4/11/2003 Earle M Jorgensen Co (Emj) 3,040
4/4/2003 Earle M Jorgensen Co (Emj) 3,021
4/4/2003 Earle M Jorgensen Co 2,985
4/11/2003 Earle M Jorgensen Co (Emj) 2,948
4/21/2003 Earle M Jorgensen Company 2,945
4/4/2003 Earle M Jorgensen Co (Emj) 2,756
4/11/2003 Earle M Jorgensen Co (Emj) 2,753
CASH RECEIPTS DETAIL
Date Payee Amount
- ------------------ ------------------------------------ --------------------
4/21/2003 Earle M Jorgensen Company 2,752
4/4/2003 Earle M Jorgensen Co 2,713
4/21/2003 Earle M Jorgensen Company 2,675
4/23/2003 Earle M Jorgensen Co (Emj) 2,673
4/21/2003 Earle M Jorgensen Company 2,651
4/21/2003 Earle M Jorgensen Co (Emj) 2,625
4/23/2003 Earle M Jorgensen Co 2,580
4/11/2003 Earle M Jorgensen Co 2,575
4/23/2003 Earle M Jorgensen Co 2,572
4/23/2003 Earle M Jorgensen Co 2,572
4/4/2003 Earle M Jorgensen Co (Emj) 2,566
4/11/2003 Earle M Jorgensen Co 2,550
4/21/2003 Earle M Jorgensen Company 2,530
4/21/2003 Earle M Jorgensen Company 2,498
4/11/2003 Earle M Jorgensen Co 2,470
4/23/2003 Earle M Jorgensen Co 2,465
4/11/2003 Earle M Jorgensen Co 2,447
4/11/2003 Earle M Jorgensen Co 2,444
4/4/2003 Earle M Jorgensen Co (Emj) 2,390
4/21/2003 Earle M Jorgensen Company 2,380
4/21/2003 Earle M Jorgensen Co (Emj) 2,378
4/23/2003 Earle M Jorgensen Co 2,369
4/11/2003 Earle M Jorgensen Co (Emj) 2,369
4/21/2003 Earle M Jorgensen Company 2,366
4/21/2003 Earle M Jorgensen Company 2,357
4/21/2003 Earle M Jorgenson Co (Emj) 2,320
4/21/2003 Earle M Jorgensen Company 2,291
4/11/2003 Earle M Jorgensen Co (Emj) 2,276
4/11/2003 Earle M Jorgensen Co 2,208
4/11/2003 Earle M Jorgensen Co (Emj) 2,204
4/11/2003 Earle M Jorgensen Co (Emj) 2,199
4/21/2003 Earle M Jorgensen Company 2,193
4/23/2003 Earle M Jorgensen Co (Emj) 2,181
4/23/2003 Earle M Jorgensen Co (Emj) 2,146
4/11/2003 Earle M Jorgensen Co 2,116
4/21/2003 Earle M Jorgensen Co (Emj) 2,109
4/21/2003 Earle M Jorgensen Co (Emj) 2,109
4/23/2003 Earle M Jorgensen Co (Emj) 2,095
4/23/2003 Earle M Jorgensen Co 2,092
4/21/2003 Earle M Jorgensen Company 2,088
4/11/2003 Earle M Jorgensen Co (Emj) 2,072
4/11/2003 Earl M. Jorgensen - Rochester 2,069
4/23/2003 Earle M Jorgensen Co 2,069
4/11/2003 Earle M Jorgensen Co 2,067
4/23/2003 Earle M Jorgensen Co (Emj) 2,055
4/11/2003 Earle M Jorgensen Co (Emj) 2,001
4/11/2003 Earle M Jorgensen Co (Emj) 1,992
4/4/2003 Earle M Jorgenson Co (Emj) 1,989
4/23/2003 Earle M Jorgensen Co (Emj) 1,885
4/21/2003 Earle M Jorgensen Company 1,854
4/11/2003 Earle M Jorgensen Co 1,839
4/23/2003 Earle M Jorgensen Co 1,826
4/4/2003 Earle M Jorgensen Co (Emj) 1,753
CASH RECEIPTS DETAIL
Date Payee Amount
- ------------------ ------------------------------------ --------------------
4/23/2003 Earle M Jorgensen Co 1,744
4/23/2003 Earle M Jorgensen Co (Emj) 1,740
4/4/2003 Earle M Jorgensen Co (Emj) 1,738
4/23/2003 Earle M Jorgensen Co 1,707
4/11/2003 Earle M Jorgensen Co (Emj) 1,700
4/21/2003 Earle M Jorgensen Company 1,696
4/11/2003 Earle M Jorgensen Co 1,686
4/11/2003 Earle M Jorgensen Co 1,668
4/21/2003 Earle M Jorgensen Co (Emj) 1,646
4/11/2003 Earle M Jorgensen Co (Emj) 1,620
4/21/2003 Earle M Jorgenson Co (Emj) 1,611
4/4/2003 Earle M Jorgensen Co (Emj) 1,586
4/11/2003 Earle M Jorgensen Co (Emj) 1,561
4/11/2003 Earle M Jorgenson Co (Emj) 1,525
4/23/2003 Earle M Jorgensen Co 1,518
4/23/2003 Earle M Jorgensen Co 1,499
4/21/2003 Earle M Jorgensen Company 1,492
4/11/2003 Earle M Jorgensen Co 1,469
4/4/2003 Earle M Jorgensen Co (Emj) 1,464
4/11/2003 Earle M Jorgensen Co (Emj) 46
4/30/2003 Erb Roberts Inc 1,000
4/10/2003 Fort Howard Steel 5,689
4/10/2003 Fort Howard Steel 2,471
4/10/2003 Fort Howard Steel 3,810
4/10/2003 Fort Howard Steel 4,424
4/10/2003 Fort Howard Steel 1,777
4/2/2003 Gautier Steel, Ltd. 3,410
4/2/2003 Gautier Steel, Ltd. 3,440
4/2/2003 General Bearing Corp 8,834
4/2/2003 General Bearing Corp 7,951
4/2/2003 General Bearing Corp 8,098
4/15/2003 Haultec Trailers 10,529
4/11/2003 Hendrickson Spring 2,717
5/1/2003 Hendrickson Spring 6,972
5/1/2003 Hendrickson Spring 6,864
5/1/2003 Hendrickson Spring 6,864
5/1/2003 Hendrickson Spring 7,615
4/18/2003 Hickman Williams & Company 55,000
5/1/2003 Impact Metal Products 6,553
5/1/2003 Impact Metal Products 6,505
5/1/2003 Impact Metal Products 6,553
5/1/2003 Impact Metal Products 6,106
5/1/2003 Impact Metal Products 6,553
4/11/2003 Industrias Montacargas,S.A. De 13,334
4/2/2003 J Rubin & Co. 783
4/2/2003 J Rubin & Co. 1,507
4/2/2003 J Rubin & Co. 847
4/2/2003 J Rubin & Co. 1,527
4/2/2003 J Rubin & Co. 1,337
4/2/2003 J Rubin & Co. 2,261
4/11/2003 J Rubin & Co. 936
4/11/2003 J Rubin & Co. 812
4/11/2003 J Rubin & Co. 1,217
CASH RECEIPTS DETAIL
Date Payee Amount
- ------------------ ------------------------------------ --------------------
4/11/2003 J Rubin & Co. 1,688
4/11/2003 J Rubin & Co. 1,130
4/11/2003 J Rubin & Co. 1,196
4/11/2003 J Rubin & Co. 764
4/21/2003 J Rubin & Co. 987
4/21/2003 J Rubin & Co. 1,279
4/21/2003 J Rubin & Co. 1,368
4/21/2003 J Rubin & Co. 690
4/21/2003 J Rubin & Co. 1,853
4/21/2003 J Rubin & Co. 764
4/21/2003 J Rubin & Co. 1,727
4/28/2003 J Rubin & Co. 2,849
4/28/2003 J Rubin & Co. 2,700
4/28/2003 J Rubin & Co. 2,489
4/28/2003 J Rubin & Co. 681
4/22/2003 J.T. Ryerson & Son Inc. 1,369
4/7/2003 Jeffrey Chain 1,554
4/7/2003 Jeffrey Chain 1,664
4/7/2003 Jeffrey Chain 2,262
4/7/2003 Jeffrey Chain 5,103
4/7/2003 Jeffrey Chain 4,370
4/17/2003 Jeffrey Chain 11,422
4/11/2003 Jorgensen Steel & Aluminum 1,761
4/11/2003 Jorgensen Steel & Aluminum 567
4/11/2003 Jorgensen Steel & Aluminum 703
4/11/2003 Jorgensen Steel & Aluminum 657
4/11/2003 Jorgensen Steel & Aluminum 1,909
4/11/2003 Jorgensen Steel & Aluminum 5,794
4/11/2003 Jorgensen Steel & Aluminum 727
4/11/2003 Jorgensen Steel & Aluminum 885
4/11/2003 Jorgensen Steel & Aluminum 1,293
4/11/2003 Jorgensen Steel & Aluminum 727
4/11/2003 Jorgensen Steel & Aluminum 1,808
4/11/2003 Jorgensen Steel & Aluminum 1,353
4/11/2003 Jorgensen Steel & Aluminum 2,859
4/11/2003 Jorgensen Steel & Aluminum 592
4/11/2003 Jorgensen Steel & Aluminum 2,382
4/11/2003 Jorgensen Steel & Aluminum 1,266
4/11/2003 Jorgensen Steel & Aluminum 4,908
4/11/2003 Jorgensen Steel & Aluminum 1,147
4/23/2003 Jorgensen Steel & Aluminum 2,228
4/23/2003 Jorgensen Steel & Aluminum 556
4/23/2003 Jorgensen Steel & Aluminum 857
4/23/2003 Jorgensen Steel & Aluminum 774
4/23/2003 Jorgensen Steel & Aluminum 323
4/23/2003 Jorgensen Steel & Aluminum 1,453
4/10/2003 KIUC 8,738
4/7/2003 Landoll Corp 2,249
4/7/2003 Lapham Hickey Steel Wi Divisi 11,438
4/10/2003 Leeco Steel Products Inc 5,000
4/7/2003 Liebovich Steel & Aluminum Co 10,875
4/16/2003 Linale Mfg 5,303
4/16/2003 Linale Mfg 2,920
CASH RECEIPTS DETAIL
Date Payee Amount
- ------------------ ------------------------------------ --------------------
4/7/2003 Lodeking Industries 9,737
4/7/2003 Lodeking Industries 10,151
4/17/2003 Lodeking Industries 8,617
4/17/2003 Marshall Steel Inc 6,880
4/22/2003 Mcallister Spring Ltd 9,092
4/7/2003 Mcsweeneys Inc 6,169
4/7/2003 Mcsweeneys Inc 6,169
4/28/2003 Mcsweeneys Inc 1,012
4/17/2003 Montlevine Inc 5,514
4/17/2003 Montlevine Inc 4,869
5/2/2003 Niagara Cold Drawn Corp 16,271
5/2/2003 Niagara Cold Drawn Corp 15,978
4/2/2003 Niagara Cold Drawn Corp 15,954
5/2/2003 Niagara Cold Drawn Corp 15,760
5/2/2003 Niagara Cold Drawn Corp 15,576
5/2/2003 Niagara Cold Drawn Corp 15,501
4/2/2003 Niagara Cold Drawn Corp 14,851
4/2/2003 Niagara Cold Drawn Corp 14,823
5/2/2003 Niagara Cold Drawn Corp 14,791
4/2/2003 Niagara Cold Drawn Corp 14,767
4/2/2003 Niagara Cold Drawn Corp 14,452
5/2/2003 Niagara Cold Drawn Corp 14,170
5/2/2003 Niagara Cold Drawn Corp 14,170
4/2/2003 Niagara Cold Drawn Corp 13,848
4/2/2003 Niagara Cold Drawn Corp 13,767
4/2/2003 Niagara Cold Drawn Corp 13,558
5/2/2003 Niagara Cold Drawn Corp 13,555
4/2/2003 Niagara Cold Drawn Corp 13,396
4/2/2003 Niagara Cold Drawn Corp 13,394
5/2/2003 Niagara Cold Drawn Corp 13,366
5/2/2003 Niagara Cold Drawn Corp 13,323
4/2/2003 Niagara Cold Drawn Corp 13,064
4/2/2003 Niagara Cold Drawn Corp 13,064
4/2/2003 Niagara Cold Drawn Corp 13,064
5/2/2003 Niagara Cold Drawn Corp 12,846
5/2/2003 Niagara Cold Drawn Corp 12,833
5/2/2003 Niagara Cold Drawn Corp 12,807
4/2/2003 Niagara Cold Drawn Corp 12,732
5/2/2003 Niagara Cold Drawn Corp 12,539
4/2/2003 Niagara Cold Drawn Corp 12,404
4/2/2003 Niagara Cold Drawn Corp 12,350
4/2/2003 Niagara Cold Drawn Corp 12,091
4/2/2003 Niagara Cold Drawn Corp 11,449
5/2/2003 Niagara Cold Drawn Corp 10,841
4/2/2003 Niagara Cold Drawn Corp 9,918
5/2/2003 Niagara Cold Drawn Corp 9,265
5/2/2003 Niagara Cold Drawn Corp 9,263
5/2/2003 Niagara Cold Drawn Corp 9,074
4/2/2003 Niagara Cold Drawn Corp 8,854
5/2/2003 Niagara Cold Drawn Corp 8,836
5/2/2003 Niagara Cold Drawn Corp 8,729
5/2/2003 Niagara Cold Drawn Corp 8,729
5/2/2003 Niagara Cold Drawn Corp 8,697
CASH RECEIPTS DETAIL
Date Payee Amount
- ------------------ ------------------------------------ --------------------
4/2/2003 Niagara Cold Drawn Corp 8,629
5/2/2003 Niagara Cold Drawn Corp 8,609
4/2/2003 Niagara Cold Drawn Corp 8,593
5/2/2003 Niagara Cold Drawn Corp 8,539
5/2/2003 Niagara Cold Drawn Corp 8,539
4/2/2003 Niagara Cold Drawn Corp 8,519
4/2/2003 Niagara Cold Drawn Corp 8,507
5/2/2003 Niagara Cold Drawn Corp 8,504
5/2/2003 Niagara Cold Drawn Corp 8,446
5/2/2003 Niagara Cold Drawn Corp 8,446
4/2/2003 Niagara Cold Drawn Corp 8,444
5/2/2003 Niagara Cold Drawn Corp 8,188
4/2/2003 Niagara Cold Drawn Corp 8,150
5/2/2003 Niagara Cold Drawn Corp 8,129
5/2/2003 Niagara Cold Drawn Corp 8,099
4/2/2003 Niagara Cold Drawn Corp 7,905
5/2/2003 Niagara Cold Drawn Corp 7,882
4/2/2003 Niagara Cold Drawn Corp 7,874
5/2/2003 Niagara Cold Drawn Corp 7,870
5/2/2003 Niagara Cold Drawn Corp 7,841
5/2/2003 Niagara Cold Drawn Corp 7,817
5/2/2003 Niagara Cold Drawn Corp 7,783
5/2/2003 Niagara Cold Drawn Corp 7,783
4/2/2003 Niagara Cold Drawn Corp 7,774
4/2/2003 Niagara Cold Drawn Corp 7,769
4/2/2003 Niagara Cold Drawn Corp 7,702
4/2/2003 Niagara Cold Drawn Corp 7,702
4/2/2003 Niagara Cold Drawn Corp 7,694
5/2/2003 Niagara Cold Drawn Corp 7,676
4/2/2003 Niagara Cold Drawn Corp 7,676
4/2/2003 Niagara Cold Drawn Corp 7,674
5/2/2003 Niagara Cold Drawn Corp 7,674
4/2/2003 Niagara Cold Drawn Corp 7,608
4/2/2003 Niagara Cold Drawn Corp 7,585
5/2/2003 Niagara Cold Drawn Corp 7,565
5/2/2003 Niagara Cold Drawn Corp 7,562
5/2/2003 Niagara Cold Drawn Corp 7,562
5/2/2003 Niagara Cold Drawn Corp 7,557
5/2/2003 Niagara Cold Drawn Corp 7,486
4/2/2003 Niagara Cold Drawn Corp 7,466
5/2/2003 Niagara Cold Drawn Corp 7,462
5/2/2003 Niagara Cold Drawn Corp 7,442
4/2/2003 Niagara Cold Drawn Corp 7,401
5/2/2003 Niagara Cold Drawn Corp 7,401
5/2/2003 Niagara Cold Drawn Corp 7,367
5/2/2003 Niagara Cold Drawn Corp 7,367
5/2/2003 Niagara Cold Drawn Corp 7,367
5/2/2003 Niagara Cold Drawn Corp 7,367
5/2/2003 Niagara Cold Drawn Corp 7,367
4/2/2003 Niagara Cold Drawn Corp 7,304
5/2/2003 Niagara Cold Drawn Corp 7,281
5/2/2003 Niagara Cold Drawn Corp 7,281
5/2/2003 Niagara Cold Drawn Corp 7,255
CASH RECEIPTS DETAIL
Date Payee Amount
- ------------------ ------------------------------------ --------------------
5/2/2003 Niagara Cold Drawn Corp 7,238
4/2/2003 Niagara Cold Drawn Corp 7,174
5/2/2003 Niagara Cold Drawn Corp 7,153
4/2/2003 Niagara Cold Drawn Corp 7,148
5/2/2003 Niagara Cold Drawn Corp 7,148
4/2/2003 Niagara Cold Drawn Corp 7,097
4/2/2003 Niagara Cold Drawn Corp 7,031
4/2/2003 Niagara Cold Drawn Corp 7,027
4/2/2003 Niagara Cold Drawn Corp 7,025
4/2/2003 Niagara Cold Drawn Corp 7,025
4/2/2003 Niagara Cold Drawn Corp 7,025
5/2/2003 Niagara Cold Drawn Corp 7,016
5/2/2003 Niagara Cold Drawn Corp 7,016
4/2/2003 Niagara Cold Drawn Corp 6,989
5/2/2003 Niagara Cold Drawn Corp 6,942
5/2/2003 Niagara Cold Drawn Corp 6,942
5/2/2003 Niagara Cold Drawn Corp 6,866
5/2/2003 Niagara Cold Drawn Corp 6,859
5/2/2003 Niagara Cold Drawn Corp 6,859
5/2/2003 Niagara Cold Drawn Corp 6,859
5/2/2003 Niagara Cold Drawn Corp 6,859
4/2/2003 Niagara Cold Drawn Corp 6,828
5/2/2003 Niagara Cold Drawn Corp 6,707
5/2/2003 Niagara Cold Drawn Corp 6,634
5/2/2003 Niagara Cold Drawn Corp 6,630
5/2/2003 Niagara Cold Drawn Corp 6,568
5/2/2003 Niagara Cold Drawn Corp 6,537
5/2/2003 Niagara Cold Drawn Corp 4,498
4/2/2003 Obrien Steel Service 117
4/2/2003 Obrien Steel Service 10,658
4/2/2003 Obrien Steel Service 11,714
4/21/2003 Oneal Steel Inc 1,403
4/22/2003 Oneal Steel Inc 1,547
4/22/2003 Oneal Steel Inc 2,296
4/28/2003 Oneal Steel Inc 3,575
4/28/2003 Oneal Steel Inc 817
4/28/2003 Oneal Steel Inc 808
4/28/2003 Oneal Steel Inc 2,754
4/10/2003 Precise Manufacturing & Engine 10,151
4/3/2003 Pro Trade Steel Company 185,650
4/10/2003 Pro Trade Steel Company 21,446
5/2/2003 Protrade 273,775
4/1/2003 Quanex Corporation 2
4/7/2003 R P Foster Inc 3,074
4/7/2003 R P Foster Inc 6,665
4/10/2003 Rockwell American Manufacturin 7,321
4/2/2003 Ryerson Tull 3,914
4/14/2003 Ryerson Tull 5,725
4/14/2003 Ryerson Tull 2,994
4/22/2003 Ryerson Tull 3,557
4/22/2003 Ryerson Tull 2,587
4/22/2003 Ryerson Tull 1,457
4/22/2003 Ryerson Tull 1,163
CASH RECEIPTS DETAIL
Date Payee Amount
- ------------------ ------------------------------------ --------------------
4/22/2003 Ryerson Tull 1,495
4/30/2003 Ryerson Tull 3,303
4/30/2003 Ryerson Tull 1,343
4/30/2003 Ryerson Tull 5,449
4/30/2003 Ryerson Tull 1,803
4/30/2003 Ryerson Tull 3,186
4/30/2003 Ryerson Tull 1,564
4/30/2003 Ryerson Tull 1,261
4/30/2003 Ryerson Tull 1,889
4/2/2003 Ryerson Tull Procurement Corp 871
5/2/2003 Ryerson Tull Procurement Corp 2,675
4/2/2003 Ryerson/ Tull Procurement Corp 5,990
4/2/2003 Ryerson/ Tull Procurement Corp 5,990
4/16/2003 Sheffield Steel, Corp. 4,097
4/16/2003 Sheffield Steel, Corp. 4,140
4/16/2003 Sheffield Steel, Corp. 4,104
4/16/2003 Sheffield Steel, Corp. 4,111
4/16/2003 Sheffield Steel, Corp. 4,039
4/21/2003 Sheffield Steel, Corp. 4,122
4/21/2003 Sheffield Steel, Corp. 4,115
4/21/2003 Sheffield Steel, Corp. 4,095
4/22/2003 Sheffield Steel, Corp. 3,576
4/22/2003 Sheffield Steel, Corp. 3,657
4/10/2003 Siskin Steel Supply 4,372
4/10/2003 Siskin Steel Supply 3,790
4/10/2003 Siskin Steel Supply 1,961
4/10/2003 Siskin Steel Supply 1,197
5/1/2003 Siskin Steel Supply 1,631
5/1/2003 Siskin Steel Supply 1,703
5/1/2003 Siskin Steel Supply 1,777
5/1/2003 Siskin Steel Supply 1,594
4/10/2003 Siskin Steel Supply 3,759
4/10/2003 Siskin Steel Supply 818
4/10/2003 Siskin Steel Supply 3,868
5/1/2003 Siskin Steel Supply 1,927
5/1/2003 Siskin Steel Supply 2,474
5/1/2003 Siskin Steel Supply 1,807
5/1/2003 Siskin Steel Supply 1,907
5/1/2003 Siskin Steel Supply 1,917
5/1/2003 Siskin Steel Supply 3,022
5/1/2003 Siskin Steel Supply 2,351
5/1/2003 Siskin Steel Supply 794
4/2/2003 Southeastern Forge Inc 861
4/2/2003 Southeastern Forge Inc 6,116
4/2/2003 Southeastern Forge Inc 1,656
4/17/2003 Southeastern Forge Inc 997
4/17/2003 Southeastern Forge Inc 7,520
4/22/2003 Southeastern Forge Inc 1,974
4/28/2003 Steel And Pipe Supply Inc 122
4/10/2003 Suspensiones Dsp,Sa De Cv 4,594
4/17/2003 Timberline Steel 4,527
4/15/2003 Titan Trailers Inc 11,615
4/10/2003 Transcraft Corp 19,129
CASH RECEIPTS DETAIL
Date Payee Amount
- ------------------ ------------------------------------ --------------------
4/28/2003 Transcraft Corp 18,541
4/10/2003 Tri State Radiology 70
4/10/2003 Tri State Radiology 105
4/2/2003 Triangle Auto Spring 4,179
4/2/2003 Triangle Auto Spring 3,916
4/2/2003 Triangle Auto Spring 6,403
4/2/2003 Triangle Auto Spring 6,264
4/2/2003 Triangle Auto Spring 7,187
4/2/2003 Triangle Auto Spring 7,187
4/2/2003 Triangle Auto Spring 1,219
4/2/2003 Triangle Auto Spring 3,633
4/2/2003 Triangle Auto Spring 2,396
4/2/2003 Triangle Auto Spring 5,989
4/2/2003 Triangle Auto Spring 784
4/2/2003 Triangle Auto Spring 7,187
4/16/2003 Triangle Auto Spring 1,219
4/16/2003 Triangle Auto Spring 4,924
4/16/2003 Triangle Auto Spring 1,332
4/10/2003 University Physicians 175
4/7/2003 Valk Manufacturing Co 633
4/7/2003 Valk Manufacturing Co 3,532
4/7/2003 Valk Manufacturing Co 1,382
4/7/2003 Valk Manufacturing Co 2,421
4/7/2003 Valk Manufacturing Co 3,875
4/7/2003 Valk Manufacturing Co 8,286
4/7/2003 Valk Manufacturing Co 8,184
4/11/2003 Valk Manufacturing Co 5,047
4/11/2003 Valk Manufacturing Co 8,123
4/11/2003 Valk Manufacturing Co 959
4/11/2003 Valk Manufacturing Co 5,414
4/23/2003 Valk Manufacturing Co 1,016
4/23/2003 Valk Manufacturing Co 3,026
4/23/2003 Valk Manufacturing Co 2,837
4/23/2003 Valk Manufacturing Co 4,828
4/30/2003 Vanguard Steel Ltd. 10,301
4/17/2003 Westerncullenhayes Inc 6,597
4/23/2003 Williams Steel & Hardware Co. 1,000
4/2/2003 Wilton Precision Steel 2,773
4/2/2003 Wilton Precision Steel 6,231
4/2/2003 Wilton Precision Steel 5,065
4/2/2003 Wilton Precision Steel 3,166
4/2/2003 Wilton Precision Steel 4,457
4/2/2003 Wilton Precision Steel 3,024
4/2/2003 Wilton Precision Steel 4,122
4/2/2003 Wilton Precision Steel 926
4/2/2003 Wilton Precision Steel 1,740
4/2/2003 Wilton Precision Steel 2,043
4/2/2003 Wilton Precision Steel 2,990
4/2/2003 Wilton Precision Steel 1,786
4/2/2003 Wilton Precision Steel 842
4/2/2003 Wilton Precision Steel 2,908
4/2/2003 Wilton Precision Steel 2,785
4/2/2003 Wilton Precision Steel 2,948
CASH RECEIPTS DETAIL
Date Payee Amount
- ------------------ ------------------------------------ --------------------
4/22/2003 Wilton Precision Steel 7,366
4/22/2003 Wilton Precision Steel 2,482
4/22/2003 Wilton Precision Steel 12,470
4/22/2003 Wilton Precision Steel 7,673
4/22/2003 Wilton Precision Steel 4,969
4/2/2003 Worthington Industries Inc 8,620
---------------
$ 4,970,026
---------------
Account #626225676 & 626225668
4/1/2003 Interest Earned on Bank One Acct $ 11
4/3/2003 Interest Earned on Bank One Acct 6
---------------
$ 17
---------------
---------------
$ 4,970,043
===============