Exhibit 99.1
OFFICE OF THE UNITED STATES TRUSTEE
In re:
DEBTOR IN POSSESSION INTERIM STATEMENT
OUTSOURCE INTERNATIONAL, INC.
Statement Number: 3
Debtor.
For the Period FROM: August 27, 2001
Chapter 11 Case No.: LA 01-28173-BB TO: September 30, 2001
Annexed hereto is Interim Statement Number 3 for the above-indicated
chapter 11 debtor ("Debtor").
At the Initial Debtor Interview held by the Office of the United
States Trustee ("OUST"), on June 27, 2001, Debtor apprised the OUST that its
books and records are maintained on a consolidated basis with the other six
affiliated debtor entities which comprise the related filing entities.
Therefore, and by agreement made with the Office of the United States Trustee,
amounts reflected on the annexed Interim Statement represent consolidated cash
receipts and disbursements for all of the bank accounts of the Debtor and its
chapter 11 debtor affiliates ("Debtors").
Additionally, due to the sheer volume of the Debtor's check registers
(approximately 2,000 pages), and in the interest of environmental economy, the
check registers will be submitted electronically under separate cover. Debtors
further advise that the disbursement amounts reflected on the annexed Interim
Statement reflect only the checks issued by the Debtors, which cleared the
banks during the reporting period, whereas the check registers reflect all
checks issued by the Debtors during the reporting period. Outstanding checks
represent the difference between the check registers and the disbursement
totals reflected in the Interim Statement.
OFFICE OF THE UNITED STATES TRUSTEE
In re OUTSOURCE INTERNATIONAL, INC DEBTOR IN POSSESSION INTERIM STATEMENT
Statement No. 3
Chapter 11 Case No. LA 01-28173 BB For the Period FROM: 8/27/01
TO: 9/30/01
<Table>
<Caption>
CASH ACTIVITY ANALYSIS (Cash Basis Only)
A. Total Receipts per all Prior Interim Statements $44,501,613
B. Less Total Disbursements per all Prior Statements $43,020,979
-----------
C. Beginning Balance (A less B) $ 1,480,634
D. Receipts during Current Period
Opening Cash Balance Per Bank $ 100
Plus: Available LockBox Receipts $21,297,796
Plus: Non A/R Cash Receipts $ --
-----------
E. Total Cash Available $22,778,529
-----------
F. Cash Disbursements/(Voids)
Advertising (newspaper recruiting) $ 33,978
Auto Maintenance $ --
Bank Fees $ 13,087
Benefits (Insurance) $ 84,504
Board of Directors $ --
Business License $ 2,842
Capital Expense $ 17,457
Capital Leases $ 185,849
CIT -- Adequate Protection Payment $ 320,226
Core Payroll $ 1,837,439
CitiBank Credit Card Payment $ --
CSF Payroll & Payroll Tax $ 621,231
Deposits -- Various Vendors $ --
Dues/Subscriptions $ 1,695
Education $ 2,219
Equipment $ --
Expense Reports $ 178,611
Flex Spending Acct. $ 3,766
FTB ACH Account $ (36,992)
Garnishments $ 59,919
Insurance $ --
IT $ 15,811
Cash Collateral for Letter of Credit $ --
Labor Supplies $ 23,586
Maintenance $ 22,475
Misc Vendor Prepaid $ 12,542
Misc Expenses $ 53,136
Mortgage $ 11,483
Office Supplies COD $ 71,062
Operating Leases $ 189,260
Outside Labor $ --
Payroll Taxes $ --
Postage $ 22,150
Prof. Fees $ 249,064
Recruiting $ --
Refund $ --
Rent Deposit $ --
Rent $ 252,483
Taxes (NonPayroll) $ 12,768
Service Payroll (Including Taxes) $16,329,195
Telephone $ 200,864
Third Party Billing (Staffing) $ --
Transportation $ 116,557
Travel Advance $ 1,500
Unemployment Taxes $ --
Utilities $ 23,769
Utility Deposits $ --
Workmans Comp $ 709,075
-----------
Total Disbursements $21,642,609
-----------
Closing Available Balance $ 1,135,920
Outstanding A/P Checks $ 256,770
-----------
Ending Bank Balance $ 1,392,690
Unavailable LockBox Receipts $ 778,186
-----------
Total Cash $ 2,170,876
===========
</Table>
I, Carolyn Noonan, authorized signatory, declare under penalty of perjury that
the information contained in the above Debtor in Possession Interim Statement
is True and complete to the best of my knowledge.
Dated: 10-16-01 /s/ Carolyn H. Noonan
----------------------- -----------------------------------
Debtor in Possession
OUTSOURCE INTERNATIONAL
CASH COLLECTIONS / DISBURSEMENTS SUMMARY
LA 01- LA 01- LA 01-
Post Petition 28173 BB 28179 BB 28191 BB
8/27 - 9/30 OUT- OUT- LA 01- OUTSOURCE LA 01- LA 01-
LA 01- SOURCE SOURCE 28185 BB INTER- 28197 BB 28201 BB
28160 BB INTERNA- FRAN- CAPITAL NATIONAL GUARDIAN GUARDIAN
SYNADYNE TIONAL, CHISING, STAFFING OF AMERICA, EMPLOYER EMPLOYER
III INC. INC. INC. FUND, INC. INC. WEST, LLC EAST, LLC
----------- --------- -------- --------- --------- ----------- --------- ---------
CASH COLLECTIONS
----------------
Opening Cash Balance
Per Bank 2,017,874 433,373 -- 32,246 2,018 369,454 871,178 309,605
Less: Outstanding
A/P Checks (537,141) (139,657) -- (4,834) (537) (82,183) (225,599) (84,331)
----------- --------- ------ -------- ------- ---------- --------- ---------
ADJUSTED OPENING
CASH BALANCE 1,480,734 293,717 -- 27,411 1,481 287,272 645,579 225,274
----------- --------- ------ -------- ------- ---------- --------- ---------
Plus: Available Lockbox
Receipts
Chicago
Los Angeles
Atlanta
TOTAL AVAILABLE
LOCKBOX RECEIPTS 21,297,796 5,814,298 -- 85,191 21,298 2,981,691 8,945,074 3,450,243
PLUS: NON A/R
CASH RECEIPTS -- -- -- -- -- -- -- --
---------- --------- ------ -------- ------- ---------- --------- ---------
TOTAL CASH
AVAILABLE 22,778,529 6,108,015 -- 112,603 22,779 3,268,963 9,590,653 3,675,517
CASH DISBURSEMENTS/(VOIDS)
Advertising (newspaper
recruiting) 33,978 9,276 -- 136 34 4,757 14,271 5,504
Auto Maintenance -- -- -- -- -- -- -- --
Bank Fees 13,087 3,573 -- 52 13 1,832 5,497 2,120
Benefits (insurance) 84,504 23,070 -- 338 85 11,831 35,492 13,690
Board of Directors -- -- -- -- -- -- -- --
Business License 2,842 776 -- 11 3 398 1,194 460
Capital Expense 17,457 4,766 -- 70 17 2,444 7,332 2,828
Capital Leases 185,849 50,737 -- 743 186 26,019 78,056 30,107
CIT - Adequate
Protection Payment 320,226 87,422 -- 1,281 320 44,832 134,495 51,877
Core Payroll 1,837,439 501,621 -- 7,350 1,837 257,241 771,724 297,665
CitiBank Credit
Card Payment -- -- -- -- -- -- -- --
CSF Payroll &
Payroll Tax 621,231 169,596 -- 2,485 621 86,972 260,917 100,639
Deposits - Various
Vendors -- -- -- -- -- -- -- --
Dues/ Subscriptions 1,695 463 -- 7 2 237 712 275
Education 2,219 606 -- 9 2 311 932 359
Equipment -- -- -- -- -- -- -- --
Expense Reports 178,611 48,761 -- 714 179 25,005 75,016 28,935
Flex Spending Acct 3,766 1,028 -- 15 4 527 1,582 610
FTB ACH Account (36,992) (10,099) -- (148) (37) (5,179) (15,537) (5,993)
Garnishments 59,919 16,358 -- 240 60 8,389 25,166 9,707
Insurance -- -- -- -- -- -- -- --
IT 15,811 4,316 -- 63 16 2,214 6,641 2,561
Cash Collateral for
Letter of Credit -- -- -- -- -- -- -- --
Labor Supplies 23,586 6,439 -- 94 24 3,302 9,906 3,821
Maintenance 22,475 6,136 -- 90 22 3,146 9,439 3,641
Misc Vendor Prepaid 12,542 3,424 -- 50 13 1,756 5,268 2,032
Misc Expenses 53,136 14,506 -- 213 53 7,439 22,317 8,608
Mortgage 11,483 3,135 -- 46 11 1,608 4,823 1,860
Office Supplies COD 71,062 19,400 -- 284 71 9,949 29,846 11,512
Operating Leases 189,260 51,668 -- 757 189 26,496 79,489 30,660
Outside Labor -- -- -- -- -- -- -- --
Payroll Taxes -- -- -- -- -- -- -- --
Postage 22,150 6,047 -- 89 22 3,101 9,303 3,588
Prof. Fees 249,064 67,995 -- 996 249 34,869 104,607 40,348
Recruiting -- -- -- -- -- -- -- --
Refund -- -- -- -- -- -- -- --
Rent Deposit -- -- -- -- -- -- -- --
Rent 252,483 68,928 -- 1,010 252 35,348 106,043 40,902
Taxes (NonPayroll) 12,768 3,486 -- 51 13 1,788 5,363 2,068
Service Payroll
(Including Taxes) 16,329,195 4,457,870 -- 65,317 16,329 2,286,087 6,858,262 2,645,330
Telephone 200,864 54,836 -- 803 201 28,121 84,363 32,540
Third Party Billing
(Staffing) -- -- -- -- -- -- -- --
Transportation 116,557 31,820 -- 466 117 16,318 48,954 18,882
Travel Advance 1,500 410 -- 6 2 210 630 243
Unemployment Taxes -- -- -- -- -- -- -- --
Utilities 23,769 6,489 -- 95 24 3,328 9,983 3,851
Utility Deposits -- -- -- -- -- -- -- --
Workmans Comp 709,075 193,578 -- 2,836 709 99,271 297,812 114,870
----------- --------- ------ -------- ------- ---------- --------- ---------
TOTAL DISBURSEMENTS 21,642,609 5,908,432 -- 86,570 21,643 3,029,965 9,089,896 3,506,103
----------- --------- ------ -------- ------- ---------- --------- ---------
CLOSING AVAILABLE BALANCE 1,135,920 199,583 -- 26,032 1,136 238,998 500,758 169,414
OUTSTANDING A/P CHECKS 256,770 70,098 -- 1,027 257 35,948 107,843 41,597
----------- --------- ------ -------- ------- ---------- --------- ---------
ENDING BANK BALANCE 1,392,690 269,681 -- 27,059 1,393 274,946 608,601 211,011
UNAVAILABLE LOCKBOX
RECEIPTS 778,186 212,445 -- 3,113 778 108,946 326,838 126,066
----------- --------- ------ -------- ------- ---------- --------- ---------
TOTAL CASH 2,170,876 482,126 -- 30,172 2,171 383,892 935,439 337,077
=========== ========= ====== ======== ======= ========== ========= =========
OFFICE OF THE UNITED STATES TRUSTEE
IN RE OUTSOURCE INTERNATIONAL, INC
DEBTOR IN POSSESSION INTERIM STATEMENT
STATEMENT NO. 3
FROM: 8/27/2001 PAGE 1 OF 5
CHAPTER 11 CASE NO. LA 01-28173-BB TO: 9/30/2001
(NEW) (NEW)
Medical Insurance
H(a) Funding Accounts Payable Concentration
H(a) Bank of America Bank of America Bank of America
H(a) 1233436147 1233736075 1233820507
H(a) Concord, CA Concord, CA Concord, CA
----------------- ---------------- ---------------
CASH ACTIVITY ANALYSIS (CASH BASIS ONLY)
A. Opening Cash Balance Per Bank 06/12/2001 $ -- $ -- $ 8,145
A.1 Plus Total Receipts per all Prior Interim Statements $ -- $ -- $ --
B. Less Total Disbursements per all Prior Statements $ (51,000) $ -- --
B.1 Plus/(Minus) Transfer (to)/from
interbank account (net)
All prior Statements $ 51,000 -- $ (8,145)
------------ ------------ ------------
C. Beginning Balance per Schedule B.2 $ -- $ -- $ --
(Attach Separate Listing if Necessary)
See Attached Consolidated Statements 1 & 2
D. TOTAL RECEIPTS THIS PERIOD $ -- $ -- $ --
------------ ------------ ------------
E. Balance Available (C.2 plus D) $ -- $ -- $ --
F. Less: Disbursements during Current Period $ (28,457) $ -- $ --
(Attach Separate Listing if Necessary)
Cash Disbursements detail in excess of 2,000 pages,
available on enclosed CD.
------------ ------------ ------------
F.1 Net position (E minus F) $ (28,457) $ -- $ --
F.2 Other Transactions:
Plus/(Minus) Transfer (to)/from
interbank account (net) $ 51,000 $ -- --
------------ ------------ ------------
G. Ending Balance $ 22,542.84 $ -- $ --
------------ ------------ ------------
(NEW)
Payroll Payroll Core/Operating LockBox
Bank of America Bank of America Bank of America Bank of America LA
1233633997 1233833996 1233136172 1233334412
Concord, CA Concord, CA Concord, CA Concord, CA
--------------- --------------- --------------- ------------------
CASH ACTIVITY ANALYSIS (CASH BASIS ONLY)
A. Opening Cash Balance Per Bank 06/12/2001 $ -- $ 873,395 $ -- $ 439,649
A.1 Plus Total Receipts per
all Prior Interim Statements $ -- $ 7,468 $ -- $ 11,817,256
B. Less Total Disbursements per
all Prior Statements $ (81,253) $ (7,177,779) $ -- $ (438,710)
B.1 Plus/(Minus) Transfer (to)/from
interbank account (net)
All prior Statements $ 93,673 $ 6,688,510 $ 3,717 $ (11,610,468)
----------- --------------- ---------- --------------
C. Beginning Balance per Schedule B.2 $ 12,419 $ 391,593 $ 3,717 $ 207,727
(Attach Separate Listing if Necessary)
See Attached Consolidated Statements 1 & 2
D. TOTAL RECEIPTS THIS PERIOD $ 1,356 $ -- $ -- $ 6,366,030
----------- --------------- ---------- --------------
E. Balance Available (C.2 plus D) $ 13,775 $ 391,593 $ 3,717 $ 6,573,758
F. Less: Disbursements during Current Period $ (152,518) $ (4,169,199) $ (819) $ (7,931)
(Attach Separate Listing if Necessary)
Cash Disbursements detail in excess of 2,000 pages,
available on enclosed CD.
----------- --------------- ---------- --------------
F.1 Net position (E minus F) $ (138,743) $ (3,777,606) $ 2,898 $ 6,565,827
F.2 Other Transactions:
Plus/(Minus) Transfer (to)/from
interbank account (net) $ 195,955 $ 4,029,731 $ 5,648 $ (6,296,656)
----------- --------------- ---------- --------------
G. Ending Balance $ 57,212.31 $ 252,124.76 $ 8,546.43 $ 269,170.54
----------- --------------- ---------- --------------
I. Other monies on hand - $10,000.00 in safe at corporate office for
disaster/hurricane preparedness.
I, Carolyn Noonan, authorized signatory, declare under penalty of
perjury that the information contained in the above Debtor In
Possession Interim Statement is True and complete to the best of my
knowledge.
/s/ Carolyn H. Noonan
Dated 10-16-01 ----------------------
------------------------ DEBTOR IN POSSESSION
OFFICE OF THE UNITED STATES TRUSTEE
IN RE OUTSOURCE INTERNATIONAL, INC
DEBTOR IN POSSESSION INTERIM STATEMENT
STATEMENT NO. 3
FROM: 8/27/2001 PAGE 2 OF 5
CHAPTER 11 CASE NO. LA 01-28173-BB TO: 9/30/2001
H(a) LockBox Operating Operating
H(a) Bank of LockBox Account Account
H(a) America CH Bank of America Citizens Bank Citizens Bank
H(a) 8188312934 3751598703 3303116816 3300167983
H(a) Concord, CA Concord, CA Manchester, NH Manchester, NH
--------------- --------------- --------------- --------------
CASH ACTIVITY ANALYSIS (CASH BASIS ONLY)
A. Opening Cash Balance Per Bank 06/12/2001 $ 578,151 $ 406,542 $ 100 $ 19,635
A.1 Plus Total Receipts per
all Prior Interim Statements $ 19,547,567 $ 12,627,160 $ 2,966,471 $ --
B. Less Total Disbursements per
all Prior Statements $ (596,827) $ (1,710,643) $ (6,623,793) $ (3,259)
B.1 Plus/(Minus) Transfer (to)/from
interbank account (net)
All prior Statements $(18,937,545) $ (11,101,947) $ 5,675,095 $ (16,376)
------------ --------------- ------------- --------------
C. Beginning Balance per Schedule B.2 $ 591,347 $ 221,112 $ 2,017,874 $ --
(Attach Separate Listing if Necessary)
See Attached Consolidated Statements 1 & 2
D. TOTAL RECEIPTS THIS PERIOD $ 8,525,550 $ 6,172,146 $ -- $ --
------------ --------------- ------------- --------------
E. Balance Available (C.2 plus D) $ 9,116,896 $ 6,393,258 $ 2,017,874 $ --
F. Less: Disbursements during Current Period $ -- $ -- $ (1,298,113) $ --
(Attach Separate Listing if Necessary)
Cash Disbursements detail in excess of 2,000 pages,
available on enclosed CD.
------------ --------------- ------------- --------------
F.1 Net position (E minus F) $ 9,116,896 $ 6,393,258 $ 719,760 $ --
F.2 Other Transactions:
Plus/(Minus) Transfer (to)/from
interbank account (net) $ (8,711,863) $ (6,289,276) $ 672,930 $ --
------------ --------------- ------------- --------------
G. Ending Balance $ 405,033.47 $ 103,981.75 $1,392,690.30 $ --
------------ --------------- ------------- --------------
Accounts Accounts Accounts
Payable Payable Payable Concentration
Citizens Bank Citizans Bank Citizens Bank First Star Bank
3399000024 3303116832 3399000148 823213004
Manchester, NH Manchester, NH Manchester, NH Cincinnati, OH
--------------- --------------- --------------- ------------------
CASH ACTIVITY ANALYSIS (CASH BASIS ONLY)
A. Opening Cash Balance Per Bank 06/12/2001 $ -- $ 100 $ -- $ 970,445
A.1 Plus Total Receipts per
all Prior Interim Statements $ -- $ -- $ -- $ --
B. Less Total Disbursements per
all Prior Statements $ (1,606) $ (629,571) $(3,074,725) $ --
B.1 Plus/(Minus) Transfer (to)/from
interbank account (net)
All prior Statements $ 1,606 $ 629,471 $ 3,074,725 $ (406,092)
----------- --------------- ----------- --------------
C. Beginning Balance per Schedule B.2 $ -- $ -- $ -- $ 564,354
(Attach Separate Listing if Necessary)
See Attached Consolidated Statements 1 & 2
D. TOTAL RECEIPTS THIS PERIOD $ -- $ -- $ -- $ --
----------- --------------- ----------- --------------
E. Balance Available (C.2 plus D) $ -- $ -- $ -- $ 564,354
F. Less: Disbursements during Current Period $ -- $ (273) $(2,105,653) $ --
(Attach Separate Listing if Necessary)
Cash Disbursements detail in excess of 2,000 pages,
available on enclosed CD.
----------- --------------- ----------- --------------
F.1 Net position (E minus F) $ -- $ (273) $(2,105,653 $ 564,354
F.2 Other Transactions:
Plus/(Minus) Transfer (to)/from
interbank account (net) $ -- 273 $ 2,105,653 $ (404,007)
----------- --------------- ----------- --------------
G. Ending Balance $ -- $ -- $ -- $ 160,346.73
----------- --------------- ----------- --------------
I. Other monies on hand - $10,000.00 in safe at corporate office for
disaster/hurricane preparedness.
OFFICE OF THE UNITED STATES TRUSTEE
IN RE OUTSOURCE INTERNATIONAL, INC
DEBTOR IN POSSESSION INTERIM STATEMENT
STATEMENT NO. 3
FROM: 8/27/2001 PAGE 3 OF 5
CHAPTER 11 CASE NO. LA 01-28173-BB TO: 9/30/2001
Concentration Payroll
H(a) Payroll First Tennessee First Tennessee
H(a) First Star Bank Bank Bank
H(a) 823213012 100080412 100196519
H(a) Cincinnati, OH Memphis, TN Memphis, TN
----------------- ---------------- ---------------
CASH ACTIVITY ANALYSIS (CASH BASIS ONLY)
A. Opening Cash Balance Per Bank 06/12/2001 $ -- $ 113,699 $ --
A.1 Plus Total Receipts per all Prior Interim Statements $ -- $ -- $ --
B. Less Total Disbursements per all Prior Statements $(11,515,299) $ (1,684) $ (1,376,046)
B.1 Plus/(Minus) Transfer (to)/from
interbank account (net)
All prior Statements $ 11,515,299 $ 7,471 $ 1,376,046
------------ ------------ ------------
C. Beginning Balance per Schedule B.2 $ -- $ 119,487 $ --
(Attach Separate Listing if Necessary)
See Attached Consolidated Statements 1 & 2
D. TOTAL RECEIPTS THIS PERIOD $ -- $ -- $ --
------------ ------------ ------------
E. Balance Available (C.2 plus D) $ -- $ 119,487 $ --
F. Less: Disbursements during Current Period $ (5,920,441) $ (1,331) $ (709,602)
(Attach Separate Listing if Necessary)
Cash Disbursements detail in excess of 2,000 pages,
available on enclosed CD.
------------ ------------ ------------
F.1 Net position (E minus F) $ (5,920,441) $ 118,156 $ (709,602)
F.2 Other Transactions:
Plus/(Minus) Transfer (to)/from
interbank account (net) $ 5,920,441 $ (57,384) $ 709,602
------------ ------------ ------------
G. Ending Balance $ -- $ 60,771.94 $ --
------------ ------------ ------------
Payroll ACH Payroll Concentration Payroll
First First First Union First Union
Tennessee Tennessee National Bank National Bank
Bank Bank 2080000373357 2079940007435
100380734 101829397 Deerfield Beach, Deerfield Beach,
Memphis, TN Memphis, TN FL FL
--------------- --------------- --------------- ------------------
CASH ACTIVITY ANALYSIS (CASH BASIS ONLY)
A. Opening Cash Balance Per Bank 06/12/2001 $ 894 $ -- $ 411,098 $ --
A.1 Plus Total Receipts per
all Prior Interim Statements $ -- $ -- $ -- $ --
B. Less Total Disbursements per
all Prior Statements $ (16) $ (591,699) $ (52,464) $ (3,770,652)
B.1 Plus/(Minus) Transfer (to)/from
interbank account (net)
All prior Statements $ (878) $ 650,000 $ (131,356) $ 3,770,652
----------- --------------- ----------- --------------
C. Beginning Balance per Schedule B.2 $ -- $ 58,301 $ 227,277 $ --
(Attach Separate Listing if Necessary)
See Attached Consolidated Statements 1 & 2
D. TOTAL RECEIPTS THIS PERIOD $ -- $ -- $ -- $ --
----------- --------------- ----------- --------------
E. Balance Available (C.2 plus D) $ -- $ 58,301 $ 227,277 $ --
F. Less: Disbursements during Current Period $ -- $ (1,717,811) $ (9,952) $ (1,705,674)
(Attach Separate Listing if Necessary)
Cash Disbursements detail in excess of 2,000 pages,
available on enclosed CD.
----------- --------------- ----------- --------------
F.1 Net position (E minus F) $ -- $ (1,659,510) $ 217,326 $ (1,705,674)
F.2 Other Transactions:
Plus/(Minus) Transfer (to)/from
interbank account (net) $ -- 1,677,437 $ (40,744) $ 1,705,674
----------- --------------- ----------- --------------
G. Ending Balance $ -- $ 17,926.66 $176,582.01 $ --
----------- --------------- ----------- --------------
I. Other monies on hand - $10,000.00 in safe at corporate office for
disaster/hurricane preparedness.
OFFICE OF THE UNITED STATES TRUSTEE
IN RE OUTSOURCE INTERNATIONAL, INC
DEBTOR IN POSSESSION INTERIM STATEMENT
STATEMENT NO. 3
FROM: 8/27/2001 PAGE 4 OF 5
CHAPTER 11 CASE NO. LA 01-28173-BB TO: 9/30/2001
H(a) Payroll
H(a) First Union Concentration Payroll
H(a) National Bank Michigan Michigan
H(a) 207009940011586 National Bank National Bank
H(a) Deerfield Beach, 5961844940 2770710164
H(a) FL Livonia, MI Livonia, MI
----------------- ---------------- ---------------
CASH ACTIVITY ANALYSIS (CASH BASIS ONLY)
A. Opening Cash Balance Per Bank 06/12/2001 $ -- $ 66,832 $ 1
A.1 Plus Total Receipts per all Prior Interim Statements $ -- $ 764 $ --
B. Less Total Disbursements per all Prior Statements $ (1,587,660) $ (5,578) $ (833,593)
B.1 Plus/(Minus) Transfer (to)/from
interbank account (net)
All prior Statements $ 1,587,660 $ 56,632 $ 833,593
------------ ------------ ------------
C. Beginning Balance per Schedule B.2 $ -- $ 118,650 $ 1
(Attach Separate Listing if Necessary)
See Attached Consolidated Statements 1 & 2
D. TOTAL RECEIPTS THIS PERIOD $ -- $ -- $ --
------------ ------------ ------------
E. Balance Available (C.2 plus D) $ -- $ 118,650 $ 1
F. Less: Disbursements during Current Period $ (635,441) $ -- $ (556,259)
(Attach Separate Listing if Necessary)
Cash Disbursements detail in excess of 2,000 pages,
available on enclosed CD.
------------ ------------ ------------
F.1 Net position (E minus F) $ (635,441) $ (118,650) $ (556,258)
F.2 Other Transactions:
Plus/(Minus) Transfer (to)/from
interbank account (net) $ 635,441 (55,099) $ 556,259
------------ ------------ ------------
G. Ending Balance $ -- $ 63,550.98 $ 1.00
------------ ------------ ------------
Payroll Payroll Taxes Concentration Payroll
Michigan Michigan Norwest Bank Norwest Bank
National Bank National Bank 5058061791 8012703781
2770710420 6856302242 Colorado Colorado
Livonia, MI Livonia, MI Springs, CO Springs, CO
--------------- ---------------- --------------- ------------------
CASH ACTIVITY ANALYSIS (CASH BASIS ONLY)
A. Opening Cash Balance Per Bank 06/12/2001 $ 1 $ 697,525 $ 154,709 $ --
A.1 Plus Total Receipts per
all Prior Interim Statements $ -- $ -- $ -- $ --
B. Less Total Disbursements per
all Prior Statements $ (2,495) $ (5,461,244) $ (11,248) $ (245,920)
B.1 Plus/(Minus) Transfer (to)/from
interbank account (net)
All prior Statements $ 2,494 $ 4,860,876 $ (50,180) $ 245,920
----------- --------------- ---------- --------------
C. Beginning Balance per Schedule B.2 $ -- $ 97,157 $ 93,280 $ --
(Attach Separate Listing if Necessary)
See Attached Consolidated Statements 1 & 2
D. TOTAL RECEIPTS THIS PERIOD $ -- $ -- $ -- $ --
----------- --------------- ---------- --------------
E. Balance Available (C.2 plus D) $ -- $ 97,157 $ 93,280 $ --
F. Less: Disbursements during Current Period $ -- $ (3,130,888) $ (3,703) $ (91,340)
(Attach Separate Listing if Necessary)
Cash Disbursements detail in excess of 2,000 pages,
available on enclosed CD.
----------- --------------- ---------- --------------
F.1 Net position (E minus F) $ -- $ (3,033,731) $ 89,578 $ (91,340)
F.2 Other Transactions:
Plus/(Minus) Transfer (to)/from
interbank account (net) $ -- $ 3,045,000 $ (30,883) $ 91,340
----------- --------------- ---------- --------------
G. Ending Balance $ -- $ 11,269.28 $58,694.94 $ --
----------- --------------- ---------- --------------
I. Other monies on hand - $10,000.00 in safe at corporate office for
disaster/hurricane preparedness.
OFFICE OF THE UNITED STATES TRUSTEE
IN RE OUTSOURCE INTERNATIONAL, INC
DEBTOR IN POSSESSION INTERIM STATEMENT
STATEMENT NO. 3
FROM: 8/27/2001 PAGE 5 OF 5
CHAPTER 11 CASE NO. LA 01-28173-BB TO: 9/30/2001
H(a) Payroll Totals
H(a) Norwest Bank
H(a) 8012703799
H(a) Colorado Springs, CO
-------------------- ---------------
CASH ACTIVITY ANALYSIS (CASH BASIS ONLY)
A. Opening Cash Balance Per Bank 06/12/2001 $ -- $ 4,740.921
A.1 Plus Total Receipts per all Prior
Interim Statements $ -- $ 46,966,687
B. Less Total Disbursements per all
Prior Statements $ (1,138,549) $ (46,983,311)
B.1 Plus/(Minus) Transfer (to)/from
interbank account (net)
All prior Statements $ 1,138,549 $ 0
--------------- ---------------
C. Beginning Balance per Schedule B.2 $ -- $ 4,724,297
(Attach Separate Listing if Necessary)
See Attached Consolidated Statements 1 & 2
D. TOTAL RECEIPTS THIS PERIOD $ -- $ 21,065,082
--------------- ---------------
E. Balance Available (C.2 plus D) $ -- $ 25,789,379
F. Less: Disbursements during Current Period $ (483,529) $ (22,728,933)
(Attach Separate Listing if Necessary)
Cash Disbursements detail in excess of 2,000
pages, available on enclosed CD.
--------------- ---------------
F.1 Net position (E minus F) $ (483,529) $ 3,060,446
F.2 Other Transactions:
Plus/(Minus) Transfer (to)/from
interbank account (net) $ 483,529 $ (0)
--------------- ---------------
G. Ending Balance $ -- $ 3,060,445.94
--------------- ---------------
I. Other monies on hand - $10,000.00 in safe at corporate office for
disaster/hurricane preparedness.
OFFICE OF THE UNITED STATES TRUSTEE
-----------------------------------------------------------------------------------------------------------------------------------
IN RE: OUTSOURCE INTERNATIONAL, INC. DEBTOR IN POSSESSION OPERATING REPORT
DEBTOR
CONSOLIDATED 3
PAGE 1 OF 3
CHAPTER 11 CASE NO: LA 01-28173-BB FOR THE PERIOD FROM: 8/27/01
TO: 9/30/01
-----------------------------------------------------------------------------------------------------------------------------------
CONSOLIDATED
1. Profit and Loss Statement (Accrual Basis Only)
A. Related to Business Operations:
Gross Sales $ 22,776,394
Less: Sales Returns & Discounts (117,199)
------------
Net Sales $ 22,659,196
Less: Cost of Goods Sold: 18,060,859
------------
Gross Profit $ 4,598,337
Other Operating Revenues --
Less: Operating Expenses --
Officer Compensation 80,215
Salaries and Wages--Other Employees 2,078,174
------------
Total Salaries and Wages 2,158,389
Employee Benefits and Pensions 151,110
Payroll Taxes 158,549
Real Estate Taxes 4,828
Federal and State Income Taxes 14,000
------------
Total Taxes 177,378
Rent and Lease Exp. (Real Property and Personal Property) 268,068
Interest Expense (Mortgage, Loan, etc.) 206,748
Insurance 29,286
Automobile Expense 81,971
Utilities (Gas, Electric, Water, Telephone, etc.) 165,595
Depreciation and Amortization 446,222
Repairs and Maintenance 19,205
Advertising 14,724
Supplies, Office Expenses, Photocopies, etc. 130,396
Bad Debts 114,602
MISC OP EXP (T&E,RELO,REP,MEET,RECRUIT,BANK/COLLECT FEES,LIC/TAX) 288,334
------------
Total Operating Expenses 1,765,150
------------
Net Gain/Loss from Business Operations 346,311
B. Not Related to Business Operations:
Income:
Interest Income 12,638
Other Non-Operating Revenues
Gross Proceeds on Sale of Assets
Less: Original Cost of Assets plus Expenses of Sale
Net Gain/Loss on Sale of Assets 1,610
------------
Total Non-Operating Income 14,697
Expenses Not Related to Business Operations:
ACCOUNTING & AUDITING FEES 15,000
LEGAL FEES 130,864
OTHER PROF./CONSULT FEES 306,640
Other Non-Operating Expenses (Specify) --
------------
Total Non-Operating Expenses 452,504
------------
NET INCOME/LOSS FOR PERIOD $ (91,496)
============
Page 2 of 3
DEBTOR IN POSSESSION OPERATING REPORT NO: 3
----
2. Aging of Accounts Payable and Accounts Receivable (Exclude pre-petition
accounts payable):
CONSOLIDATED: Accounts Payable Accounts Receivable
------------- ---------------- -------------------
Current Under 46 Days 401,275.47 20,684,056.12
Overdue 46 - 60 Days 39,116.59 1,956,241.02
Overdue 61 - 90 Days 308,101.77 672,858.02
Overdue: 91 - 150 Days 97,009.81 257,180.37
Overdue: 151 - 179 Days 0 55,644.20
Overdue: > = 180 Days 382.88 480,472.33
TOTAL 845,886.52 24,106,452.06
3. Statement of Status of Payments to Secured Creditors and Lessors:
Frequency Post-Petition
of Payments per Amount Next Payments Not Made*
Creditor/ Contract/Lease of Each Payment -------------------------
Lessor (i.e. Mo., Qtr.) Payment Due Number Amount
-------- ---------------- ------- ------- ------ ------
See Attached Rider 3
*Explanation for Non-Payment: In accordance with bankruptcy code section
365(D)(10), during the month of August, debtor began paying the amounts due
under the personal property leases for August, although not all August payments
were made during the August reporting period. For the September reporting
periods, the debtor is current and intends to remain current going forward on
personal property lease payments pending the decision to assume or reject the
personal property leases.
4. Tax Liability: See attached Rider 4*
Gross Payroll Expense for Period: $13,844,691.77
Gross Sales for Period Subject to Sales Tax: $151,142.17
Post-Petition
Amount Paid* Taxes Still
Date Paid (note 1) Owing
------------------ ------------- -------------
Federal Payroll and Withholding Taxes Various $2,095,722.99 $341,013.04
(note 2)
State Payroll and Withholding Taxes (note 3) Various $ 167,684.51 $623,922.14
(note 2)
State Sales and Use Taxes September 20, 2001 $ 11,120 $ 8,171.93
(note 2)
Real Property Taxes N/A N/A N/A
* Attach photocopies of depository receipts from taxing authorities or
financial institutions to verify that such deposits or payments have been
made.
(note 1) Returns provided regularly to UST, payments generally via ACH. Payment
includes amounts due in September from August and amounts due in September from
September.
(note 2) Payment is due in October.
(note 3) Includes local taxes.
5. Insurance Coverage:
Carrier/ Amount Policy Premium
SEE ATTACHED RIDER 5 AT LA01-28173-BB Agent of Expiration Paid Through
Name Coverage Date Date
------- -------- ---------- ------------
Worker's Compensation
Liability
Fire and Extended Coverage
Property
Theft
Life (Beneficiary:_______________)
Vehicle
Other (Specify):
Page 3 of 3
DEBTOR IN POSSESSION OPERATING REPORT NO: 3
----
6. Questions:
A. Has the Debtor in Possession provided compensation to any officers,
directors, shareholders or other principals without the approval of
the Office of the United States Trustee?
Yes Explain:
------ --------------------------------------------
X No
------
B. Has the Debtor in Possession, subsequent to the filing of the
petition, made any payments on its pre-petition unsecured debt, except
as have been authorized by the Court?
Yes Explain:
------ ---------------------------------------------
X No
------
7. Statement of Unpaid Professional Fees (Post-Petition Amounts ONLY)
CONSOLIDATED
State Type of Total Post-
Professional Petition Amount
Name of Professional (Attorney/Accountant/etc.) Unpaid
-------------------- -------------------------- ---------------
KTBS Bankruptcy Counsel $0
Ackerman General Counsel $0
DeBellas Investment Advisor $0
Bankruptcy Management Corp Bankruptcy Consultant $50,000 estimate
8. Narrative Report of Significant Events and Events out of the Ordinary
Course of Business (ATTACH SEPARATE SHEET IF NECESSARY)
THE AUGUST REPORT FILED ON 9/14/2001 STATED THAT NASDAQ DELISTED THE DEBTOR
COMPANY FROM TRADING ON THE OTC BULLETIN BOARD, AND THAT THE DEBTOR COMPANY WAS
TRADING IN THE PINK SHEETS EFFECTIVE 8/29/2001. THE CORRECT DELISTING DATE IS
10/4/2001.
9. Quarterly Fees: (This Fee MUST be paid to the United States Trustee every
calendar quarter)
Quarterly Total Quarterly
Period Disbursements Quarterly Date Amount Check Fee Still
Ending for Quarter Fee Paid Paid No. Owing
--------- ------------- --------- ---- ------ ----- ---------
9/30/2001 0 250 To be paid by 250
10/30/2001
I, Carolyn H. Noonan, the Vice President, Controller and Assistant Secretary of
Outsource International, Inc., debtor in this chapter 11 case, declare under
penalty of perjury that the information contained in the above Debtor in
Possession Operating Report is true and complete to the best of my knowledge.
Dated: OCTOBER 16, 2001
/s/ Carolyn H. Noonan
-----------------------------------
Debtor in Possession or Trustee
Rider 3 - Status of Payments to Secured Creditors and Lessors
Outsource International, Inc.
Case No. LA 01-28173BB
----------------------------------------------------------------------------------------------------------------
Frequency of
Payments per Amount of Next Payment Post-Petition
Creditor/Lessor Contract/Lease Each Payment Due Payments Not Made**
----------------------------------------------------------------------------------------------------------------
ABELCO DISCOUNT (7,228,652.00) 0
ABLECO TERM LOAN A quarterly 500,000.00 10/31/01 0 --
ABLECO TERM LOAN B balloon 8,549,980.58 08/15/03 0 --
ADVANTA BUSINESS SERVICES CORP. monthly 207.76 11/05/01 1 207.76
BANK ONE LEASING monthly 2,394.00 11/01/01 1 2,394.00
CIT REVOLVER daily 17,496,455.60 Variable Daily 0 --
CITICORP VENDOR FINANCE INC. monthly 560.74 10/29/01 1 560.74
COMERICA BANK monthly 1,021.66 10/24/01 3 3,064.98
COPYCO INC. monthly 461.42 10/13/01 1 461.42
COPYCO INC. monthly 421.16 10/17/01 1 421.16
DE LAGE LANDEN FINANCIAL SERVICES monthly 197.09 10/11/01 1 197.09
DE LAGE LANDEN FINANCIAL SERVICES monthly 133.33 10/11/01 1 133.33
FIDELITY LEASING INC. monthly 96.58 10/15/01 1 96.58
FIDELITY LEASING INC. monthly 96.58 10/14/01 1 96.58
FIDELITY LEASING INC. monthly 114.95 10/15/01 1 114.95
FLEET BUSINESS CREDIT CORPORATION monthly 60.76 11/01/01 1 60.76
FLEET BUSINESS CREDIT CORPORATION monthly 93.77 11/01/01 1 93.77
FLEET BUSINESS CREDIT CORPORATION monthly 57.79 11/01/01 1 57.79
FLEET BUSINESS CREDIT CORPORATION monthly 93.86 11/01/01 1 93.86
FLEET BUSINESS CREDIT CORPORATION monthly 57.79 11/01/01 1 57.79
FLEET BUSINESS CREDIT CORPORATION monthly 93.86 11/01/01 1 93.86
FLEET BUSINESS CREDIT CORPORATION monthly 93.86 11/01/01 1 93.86
FLEET BUSINESS CREDIT CORPORATION monthly 94.23 11/01/01 1 94.23
FLEET BUSINESS CREDIT CORPORATION monthly 94.42 11/01/01 1 94.42
FLEET BUSINESS CREDIT CORPORATION monthly 14.50 11/01/01 1 14.50
FLEET BUSINESS CREDIT CORPORATION monthly 11.46 11/01/01 1 11.46
FLEET BUSINESS CREDIT CORPORATION monthly 93.08 11/01/01 1 93.08
FLEET BUSINESS CREDIT CORPORATION monthly 70.04 11/01/01 1 70.04
FLEET BUSINESS CREDIT CORPORATION monthly 94.67 11/01/01 1 94.67
FLEET BUSINESS CREDIT CORPORATION monthly 76.81 11/01/01 1 76.81
FLEET BUSINESS CREDIT CORPORATION monthly 94.67 11/01/01 1 94.67
FLEET BUSINESS CREDIT CORPORATION monthly 94.67 11/01/01 1 94.67
FLEET BUSINESS CREDIT CORPORATION monthly 85.33 11/01/01 1 85.33
FLEET BUSINESS CREDIT CORPORATION monthly 70.54 11/01/01 1 70.54
FLEET BUSINESS CREDIT CORPORATION monthly 144.93 11/01/01 1 144.93
FLEET BUSINESS CREDIT CORPORATION monthly 153.74 11/01/01 1 153.74
FLEET BUSINESS CREDIT CORPORATION monthly 86.13 11/01/01 1 86.13
FLEET BUSINESS CREDIT CORPORATION monthly 94.66 11/01/01 1 94.66
FLEET BUSINESS CREDIT CORPORATION monthly 117.62 11/01/01 1 117.62
FLEET BUSINESS CREDIT CORPORATION monthly 96.70 11/01/01 1 96.70
FLEET BUSINESS CREDIT CORPORATION monthly 356.15 11/01/01 1 356.15
FLEET BUSINESS CREDIT CORPORATION monthly 356.15 11/01/01 1 356.15
FLEET BUSINESS CREDIT CORPORATION monthly 356.15 11/01/01 1 356.15
FLEET BUSINESS CREDIT CORPORATION monthly 70.54 11/01/01 1 70.54
FLEET BUSINESS CREDIT CORPORATION monthly 89.31 11/01/01 1 89.31
FLEET BUSINESS CREDIT CORPORATION monthly 62.12 11/01/01 1 62.12
FLEET BUSINESS CREDIT CORPORATION monthly 68.79 11/01/01 1 68.79
FLEET BUSINESS CREDIT CORPORATION monthly 68.79 11/01/01 1 68.79
FLEET BUSINESS CREDIT CORPORATION monthly 12.22 11/01/01 1 12.22
FLEET BUSINESS CREDIT CORPORATION monthly 107.28 11/01/01 1 107.28
FLEET BUSINESS CREDIT CORPORATION monthly 85.33 11/01/01 1 85.33
FLEET BUSINESS CREDIT CORPORATION monthly 94.67 11/01/01 1 94.67
FLEET BUSINESS CREDIT CORPORATION monthly 70.14 11/01/01 1 70.14
FLEET BUSINESS CREDIT CORPORATION monthly 181.63 11/01/01 1 181.63
FLEET BUSINESS CREDIT CORPORATION monthly 68.79 11/01/01 1 68.79
FLEET BUSINESS CREDIT CORPORATION monthly 94.67 11/01/01 1 94.67
FLEET BUSINESS CREDIT CORPORATION monthly 41.92 11/01/01 1 41.92
FLEET BUSINESS CREDIT CORPORATION monthly 76.17 11/01/01 1 76.17
FLEET BUSINESS CREDIT CORPORATION monthly 93.16 11/01/01 1 93.16
FLEET BUSINESS CREDIT CORPORATION monthly 105.80 11/01/01 1 105.80
FLEET BUSINESS CREDIT CORPORATION monthly 107.28 11/01/01 1 107.28
FLEET BUSINESS CREDIT CORPORATION monthly 93.16 11/01/01 1 93.16
FLEET BUSINESS CREDIT CORPORATION monthly 120.07 11/01/01 1 120.07
FLEET BUSINESS CREDIT CORPORATION monthly 109.09 11/01/01 1 109.09
FLEET BUSINESS CREDIT CORPORATION monthly 14.33 11/01/01 1 14.33
FLEET BUSINESS CREDIT CORPORATION monthly 212.83 11/01/01 1 212.83
FLEET BUSINESS CREDIT CORPORATION monthly 86.37 11/01/01 1 86.37
FLEET BUSINESS CREDIT CORPORATION monthly 86.57 11/01/01 1 86.57
FLEET BUSINESS CREDIT CORPORATION monthly 86.37 11/01/01 1 86.37
FLEET BUSINESS CREDIT CORPORATION monthly 86.37 11/01/01 1 86.37
FLEET BUSINESS CREDIT CORPORATION monthly 86.17 11/01/01 1 86.17
FLEET BUSINESS CREDIT CORPORATION monthly 82.91 11/01/01 1 82.91
FLEET BUSINESS CREDIT CORPORATION monthly 84.60 11/01/01 1 84.60
FLEET BUSINESS CREDIT CORPORATION monthly 84.60 11/01/01 1 84.60
FLEET BUSINESS CREDIT CORPORATION monthly 84.60 11/01/01 1 84.60
FLEET BUSINESS CREDIT CORPORATION monthly 57.74 11/01/01 1 57.74
FLEET BUSINESS CREDIT CORPORATION monthly 949.04 11/01/01 1 949.04
FLEET BUSINESS CREDIT CORPORATION monthly 429.15 11/01/01 1 429.15
FLEET BUSINESS CREDIT CORPORATION monthly 92.40 11/01/01 1 92.40
FLEET BUSINESS CREDIT CORPORATION monthly 175.45 11/01/01 1 175.45
FLEET BUSINESS CREDIT CORPORATION monthly 71.21 11/01/01 1 71.21
FLEET BUSINESS CREDIT CORPORATION monthly 70.21 11/01/01 1 70.21
FLEET BUSINESS CREDIT CORPORATION monthly 61.69 11/01/01 1 61.69
FLEET BUSINESS CREDIT CORPORATION monthly 109.24 11/01/01 1 109.24
FLEET BUSINESS CREDIT CORPORATION monthly 100.97 11/01/01 1 100.97
FLEET BUSINESS CREDIT CORPORATION monthly 70.54 11/01/01 1 70.54
FLEET BUSINESS CREDIT CORPORATION monthly 35.27 11/01/01 1 35.27
FLEET BUSINESS CREDIT CORPORATION monthly 101.44 11/01/01 1 101.44
FLEET BUSINESS CREDIT CORPORATION monthly 50.72 11/01/01 1 50.72
FLEET BUSINESS CREDIT CORPORATION monthly 70.21 11/01/01 1 70.21
FLEET BUSINESS CREDIT CORPORATION monthly 70.48 11/01/01 1 70.48
FLEET BUSINESS CREDIT CORPORATION monthly 35.27 11/01/01 1 35.27
FLEET BUSINESS CREDIT CORPORATION monthly 101.44 11/01/01 1 101.44
FLEET BUSINESS CREDIT CORPORATION monthly 50.72 11/01/01 1 50.72
FLEET BUSINESS CREDIT CORPORATION monthly 70.21 11/01/01 1 70.21
FLEET BUSINESS CREDIT CORPORATION monthly 100.97 11/01/01 1 100.97
FLEET BUSINESS CREDIT CORPORATION monthly 100.97 11/01/01 1 100.97
FLEET BUSINESS CREDIT CORPORATION monthly 70.87 11/01/01 1 70.87
FLEET BUSINESS CREDIT CORPORATION monthly 96.23 11/01/01 1 96.23
FLEET BUSINESS CREDIT CORPORATION monthly 204.20 11/01/01 1 204.20
FLEET BUSINESS CREDIT CORPORATION monthly 96.23 11/01/01 1 96.23
FLEET BUSINESS CREDIT CORPORATION monthly 96.23 11/01/01 1 96.23
FLEET BUSINESS CREDIT CORPORATION monthly 96.67 11/01/01 1 96.67
FLEET BUSINESS CREDIT CORPORATION monthly 96.23 11/01/01 1 96.23
FLEET BUSINESS CREDIT CORPORATION monthly 49.34 11/01/01 1 49.34
FLEET BUSINESS CREDIT CORPORATION monthly 96.67 11/01/01 1 96.67
FLEET BUSINESS CREDIT CORPORATION monthly 103.10 11/01/01 1 103.10
FLEET BUSINESS CREDIT CORPORATION monthly 96.23 11/01/01 1 96.23
FLEET BUSINESS CREDIT CORPORATION monthly 96.23 11/01/01 1 96.23
FLEET BUSINESS CREDIT CORPORATION monthly 96.67 11/01/01 1 96.67
FLEET BUSINESS CREDIT CORPORATION monthly 71.63 11/01/01 1 71.63
FLEET BUSINESS CREDIT CORPORATION monthly 71.61 11/01/01 1 71.61
FLEET BUSINESS CREDIT CORPORATION monthly 71.61 11/01/01 1 71.61
FLEET BUSINESS CREDIT CORPORATION monthly 71.63 11/01/01 1 71.63
FLEET LEASING CORPORATION monthly 498.56 11/01/01 1 498.56
FLEET LEASING CORPORATION monthly 446.84 11/01/01 1 446.84
FLEET LONG TERM NOTE balloon 5,343,262.23 08/15/04 0 --
FORD MOTOR CREDIT monthly 488.72 10/06/01 1 488.72
FORD MOTOR CREDIT monthly 492.14 10/05/01 1 492.14
FORD MOTOR CREDIT monthly 506.38 11/02/01 1 506.38
FORD MOTOR CREDIT monthly 506.38 11/02/01 1 506.38
FORD MOTOR CREDIT monthly 506.38 11/02/01 1 506.38
GATX CAPITAL monthly 85.03 11/01/01 1 85.03
GATX CAPITAL monthly 45.39 11/01/01 1 45.39
GATX CAPITAL monthly 85.37 11/01/01 1 85.37
GATX CAPITAL monthly 85.46 11/01/01 1 85.46
GATX CAPITAL monthly 73.64 11/01/01 1 73.64
GATX CAPITAL monthly 81.07 11/01/01 1 81.07
GATX CAPITAL monthly 74.38 11/01/01 1 74.38
GATX CAPITAL monthly 3,179.66 11/01/01 1 3,179.66
GATX CAPITAL monthly 4,861.75 11/01/01 1 4,861.75
GATX CAPITAL monthly 136.37 11/01/01 1 136.37
GATX CAPITAL monthly 696.64 11/01/01 1 696.64
GATX CAPITAL monthly 85.48 11/01/01 1 85.48
GATX CAPITAL monthly 85.36 11/01/01 1 85.36
GATX CAPITAL monthly 78.98 11/01/01 1 78.98
GATX CAPITAL monthly 53,352.75 11/01/01 1 53,352.75
GE CAPITAL monthly 165.87 10/13/01 1 165.87
GE CAPITAL monthly 116.72 10/23/01 1 116.72
GE CAPITAL monthly 206.17 11/06/01 1 206.17
GE CAPITAL monthly 242.20 10/15/01 1 242.20
GE CAPITAL monthly 159.54 10/23/01 1 159.54
GE CAPITAL monthly 44.36 11/06/01 1 44.36
GE CAPITAL monthly 925.42 11/06/01 1 925.42
GE CAPITAL monthly 423.09 11/06/01 1 423.09
GE CAPITAL monthly 423.09 10/12/01 1 423.09
GE CAPITAL monthly 233.82 10/12/01 1 233.82
GE CAPITAL monthly 213.92 10/12/01 1 213.92
GE CAPITAL monthly 233.82 10/12/01 1 233.82
GE CAPITAL monthly 213.92 10/12/01 1 213.92
GE CAPITAL monthly 243.40 10/15/01 1 243.40
GE CAPITAL monthly 233.84 10/12/01 1 233.84
GE CAPITAL monthly 213.94 10/12/01 1 213.94
GE CAPITAL monthly 182.02 10/23/01 1 182.02
GE CAPITAL monthly 140.80 11/06/01 1 140.80
GE CAPITAL monthly 132.02 11/01/01 1 132.02
GE CAPITAL monthly 224.41 11/01/01 1 224.41
HEWLETT PACKARD monthly 29,622.82 11/01/01 1 29,622.82
HEWLETT PACKARD monthly 15,200.76 11/01/01 1 15,200.76
HEWLETT-PACKARD monthly 3,968.44 11/01/01 1 3,968.44
KYOCERA MITA AMERICA INC monthly 233.82 10/06/01 1 233.82
KYOCERA MITA AMERICA INC monthly 233.82 10/06/01 1 233.82
KYOCERA MITA AMERICA INC monthly 233.84 10/06/01 1 233.84
LOOKOUT LEASING CO. monthly 105.00 10/28/01 1 105.00
MARLIN LEASING CORPORATION monthly 492.17 11/02/01 1 492.17
MICRON/FLEET LEASING monthly 802.97 11/01/01 1 802.97
MICRON/FLEET LEASING monthly 261.09 11/01/01 1 261.09
MICRON/FLEET LEASING monthly 99.79 11/01/01 1 99.79
MICRON/FLEET LEASING monthly 101.75 11/11/01 1 101.75
MICRON/FLEET LEASING monthly 71.08 11/11/01 1 71.08
MICRON/FLEET LEASING monthly 73.88 11/11/01 1 73.88
MICRON/FLEET LEASING monthly 71.79 10/15/01 2 143.58
MICRON/FLEET LEASING monthly 71.26 11/01/01 1 71.26
MICRON/FLEET LEASING monthly 58.65 10/15/01 2 117.3
MONROE BANK monthly 559.91 10/20/01 1 559.91
OLD KENT BANK monthly 856.65 10/24/01 3 2,569.95
PANASONIC COMMUNICATIONS & SYS monthly 59.40 11/01/01 1 59.40
PANASONIC COMMUNICATIONS & SYS monthly 102.77 11/01/01 1 102.77
PITNEY BOWES monthly 21.50 10/23/01 1 21.50
PITNEY BOWES monthly 50.16 10/23/01 1 50.16
PITNEY BOWES CREDIT CORPORATIO monthly 86.39 10/07/01 1 86.39
PITNEY BOWES CREDIT CORPORATIO monthly 211.23 10/07/01 1 211.23
PITNEY BOWES CREDIT CORPORATIO monthly 458.43 10/07/01 1 458.43
SAXON BUSINESS SYSTEMS INC. monthly 370.47 11/02/01 1 370.47
TOSHIBA EASY LEASE monthly 32.90 none 1 32.90
U.S. FINANCIAL monthly 698.89 10/28/01 3 2,096.67
UNITED LEASING ASSOCIATES monthly 155.28 11/01/01 1 155.28
** These amounts are also included in the Accounts Payable aging in
question #2
Rider-4
P/R Tax Department
2001 POST-PETITION TAX REPORTING
PAYROLL TAX LIABILITIES FOR PERIOD 09/01/01 THROUGH 09/30/01
--------------------------------------------------------------------------------------------------------------------------------
SEPT. 2001 SEPT. 2001 AUG. 2001 TOTAL FEDERAL
TAXABLE GROSS FEDERAL TAXES DUE FEDERAL TAXES PD FEDERAL TAXES PD TAXES PAID IN
PAYROLL ENTITIES PAYROLL EXP (INCL. FUTA)* IN SEPT. 2001 IN SEPT. 2001 SEPT. 2001
--------------------------------------------------------------------------------------------------------------------------------
Outsource Int'l of America, Inc. 2,057,105.12 359,345.16 (305,336.50) (24,892.56) (330,229.06)
--------------------------------------------------------------------------------------------------------------------------------
Synadyne III, Inc. 3,536,538.03 741,677.90 (649,066.24) (39,410.80) (688,477.04)
--------------------------------------------------------------------------------------------------------------------------------
Guardian Employer West LLC 5,690,770.34 688,742.48 (564,377.89) (32,547.17) (596,925.06)
--------------------------------------------------------------------------------------------------------------------------------
Guardian Employer East LLC 2,560,278.28 524,139.00 (454,110.87) (25,980.96) (480,091.83)
--------------------------------------------------------------------------------------------------------------------------------
TOTALS - ALL ENTITIES $13,844,691.77 $2,313,904.54 $(1,972,891.50) $(122,831.49) $(2,095,722.99)
==========================================================================================
-----------------------------------------------------------------------------------------------------------------------------
AUG. 2001
FEDERAL TAXES SEPT. 2001 SEPT. 2001 STATE TAXES PD TOTAL STATE
STILL OWED STATE TAXES DUE STATE TAXES PD IN SEPT. 2001 TAXES PD IN
PAYROLL ENTITIES (INCL. FUTA)* (INCL. SUTA) IN SEPT. 2001 (SEE NOTE 1) SEPT. 2001
-----------------------------------------------------------------------------------------------------------------------------
Outsource Int'l of America, Inc. 54,008.66 46,072.49 0.00 (3,036.03) (3,036.03)
-----------------------------------------------------------------------------------------------------------------------------
Synadyne III, Inc. 92,611.66 315,927.25 (44,988.24) (2,296.43) (47,284.67)
-----------------------------------------------------------------------------------------------------------------------------
Guardian Employer West LLC 124,364.59 200,322.15 (39,202.29) (20,831.36) (60,033.65)
-----------------------------------------------------------------------------------------------------------------------------
Guardian Employer East LLC 70,028.13 128,040.07 (3,702.88) (44,172.95) (47,875.83)
-----------------------------------------------------------------------------------------------------------------------------
TOTALS - ALL ENTITIES $341,013.04 $690,361.96 $(87,893.41) $(70,336.77) $(158,230.18)
=======================================================================================
-----------------------------------------------------------------------------------------------------------------------------------
AUG. 2001
STATE TAXES SEPTEMBER 2001 SEPT. 2001 LOCAL TAXES PD TOTAL LOCAL
STILL OWED LOCAL TAXES LOCAL TAXES PD IN SEPT. 2001 TAXES PD LOCAL TAXES
PAYROLL ENTITIES (INCL. SUTA)** DUE IN SEPT. 2001 (SEE NOTE 2) IN SEPT. 2001 STILL OWED
-----------------------------------------------------------------------------------------------------------------------------------
Outsource Int'l of America, Inc. 46,072.49 737.61 0.00 0.00 0.00 737.61
-----------------------------------------------------------------------------------------------------------------------------------
Synadyne III, Inc. 270,939.01 0.00 0.00 0.00 0.00 0.00
-----------------------------------------------------------------------------------------------------------------------------------
Guardian Employer West LLC 161,119.86 5,759.00 0.00 (1,155.50) (1,155.50) 5,759.00
-----------------------------------------------------------------------------------------------------------------------------------
Guardian Employer East LLC 124,337.19 15,888.48 (931.50) (7,367.33) (8,298.83) 14,956.98
-----------------------------------------------------------------------------------------------------------------------------------
TOTALS - ALL ENTITIES $602,468.55 $22,385.09 $(931.50) $(8,522.83) $(9,454.33) $21,453.59
==============================================================================================
OUTSOURCE INT'L GUARDIAN EMPLOYER GUARDIAN EMPLOYER ALL PAYROLL
PAYROLL TAX SUMMARY: OF AMERICA, INC. SYNADYNE III, INC. WEST, LLC EAST, LLC ENTITIES
---------------- ------------------ ----------------- ----------------- --------------
Taxable gross payroll expense $2,057,105.12 $3,536,538.03 $5,690,770.34 $2,560,278.28 $13,844,691.77
TOTAL AUG 2001 FED, STATE &
LOCAL TAXES PAID IN
SEPT 2001 (27,928.59) (41,707.23) (54,534.03) (77,521.24) (201,691.09)
TOTAL SEPT 2001 FED, STATE &
LOCAL TAXES DUE $ 406,155.26 $1,057,605.15 $ 894,823.63 $ 668,067.55 $ 3,026,651.59
LESS SEPT 2001 TAXES PAID
IN SEPT 2001 (305,336.50) (694,054.48) (603,580.18) (458,745.25) (2,061,716.41)
TOTAL SEPT 2001 TAXES STILL
OWED AT END OF PERIOD $ 100,818.76 $ 363,550.67 $ 291,243.45 $ 209,322.30 $ 964,935.18
============= ============= ============= ============= ==============
FUTA & SUTA SUMMARY:
* 3RD QTR 2001 FUTA TAX INCL. IN
FEDERAL TAX LIABILITY ABOVE $ 28,216.98 $ 58,199.85 $ 93,288.77 $ 46,120.14 $ 225,825.74
** 3RD QTR 2001 SUTA TAX INCL
IN STATE TAX LIABILITY ABOVE $ 45,871.12 $ 268,725.07 $ 140,110.38 $ 88,113.56 $ 542,820.13
NOTE 1. Differences between prior period SWT accruals and what was
actually paid:
OIA Prior period SWT accrual $3,034.65
#NAME? 1.38
Total prior period SWT paid this period $3,036.03
=========
WEST Prior period SWT accrual $20,577.44
#NAME? 253.92
Total prior period SWT paid this period $20,831.36
=========
NOTE 2. Differences between prior period local accruals and
what was actually paid:
EAST Prior period Local Tax accrual $6,691.06
Pontiac, MI not accrued prior period 656.30
Jefferson City not accrued prior period 19.97
Total prior period Local Tax paid this period $7,367.33
=========
RIDER 5
OUTSOURCE INTERNATIONAL INC
CONSOLIDATED
INSURANCE SCHEDULE OF COVERAGE
AS OF 09/30/01
Limits/ Premium
Coverage Deductibles Term Company Paid to
-------- ----------- ---- ------- -------
WORKERS' COMPENSATION Statutory 01/01/01 - 01/01/02 Zurich 9/30/01
EMPLOYERS LIABILITY
Each Accident 1,000,000
Disease - Each Employee 1,000,000
Disease - Policy Limit 1,000,000
Deductible 250,000
DEDUCTIBLE PROTECTION
POLICY 01/01/01 - 01/01/02 Zurich 9/30/01
(WC, GL, AL)
National Union
ERRORS & OMISSIONS 01/01/01 - 01/01/02 Fire Ins 1/1/02
Each Accident 1,000,000
Aggregate Limit 2,000,000
Deductible 50,000
GENERAL LIABILITY 01/01/01 - 01/01/02 Zurich 9/30/01
Policy Aggregate 25,000,000
Location Aggregate 2,000,000
Products/Completed Ops. 2,000,000
Each Occurrence 1,000,000
Personal & Advertising Injury 1,000,000
Fire Damage - Any One Fire 1,000,000
Medical - Any One Person 10,000
Employee Benefits
(Claims Made) 1,000,000
Employee Benefits
(Aggregate) 2,000,000
Retroactive Date
(1/01/99)
Deductible 50,000
AUTO LIABILITY 01/01/01 - 01/01/02 Zurich 1/1/02
Bodily Injury & Property Damage 1,000,000
Unisured/Underinsured 1,000,000
Personal Injury Protection Statutory
Medical Payments - each person 2,000
Hired & Non-Owned Auto 1,000,000
Deductible 100,000
AUTO PHYSICAL DAMAGE 01/01/01 - 01/01/02 Zurich 1/1/02
Deductible-Collision 1,000
Deductible-Other Than Collision 1,000
National Union
Fire Ins Co
UMBRELLA LIABILITY 01/01/01 - 01/01/02 of Pittsburgh, PA 1/1/02
Each Occurrence 35,000,000
General Aggregate 35,000,000
Products/Completed Ops. 35,000,000
Deductible 10,000
EMPLOYMENT PRACTICES LIABILITY 01/01/01 - 01/01/02 Lexington Ins 1/1/02
Each Insured Event 5,000,000
Total Aggregate Policy Paid Limit 10,000,000
Deductible 50,000
EMPLOYMENT PRACTICES LIABILITY-
TAIL COVERAGE Extended Lexington Ins 1/1/02
Reporting
Period
Each Insured Event 5,000,000 4/8/00-4/8/03
Total Aggregate Policy Paid Limit 10,000,000
National Union
Fire Ins Co
FIDUCIARY LIABILITY 5,000,000 01/01/01 - 01/01/02 of Pittsburgh, PA 1/1/02
Endorsements:
Fl Amendatory Cancellation -
Non Renewal
Multiemployer Extension
(Syn Sav & Inv)
Amend Discovery Clause to
bilateral election
Amend notification requirement
run-off Endorsement for Synadyne
Deductible 10,000
Limits/ Premium
Coverage Deductibles Term Company Paid to
-------- ----------- ---- ------- -------
Extended
FIDUCIARY LIABILITY-TAIL Reporting National Union
COVERAGE 5,000,000 Period Fire Ins Co 1/1/02
Basic Form with following of Pittsburgh, PA
Endorsements 4/8/00-4/8/06
FL Amendatory Cancellation
- Non Ren
Multiemployer Extension
(Syn Sav & Inv)
Option for Two Year
Discovery (150%)
Notice of Claims to Risk
or Counsel
Defense outside Limits for
Addl. Prem.
Deductible 10,000
Per Schedule on
COMMERCIAL PROPERTY File with carrier 7/1/01-7/1/2002 The St. Paul 7/1/02
DIFFERENCE IN CONDITIONS 5,000,000 LOSS LIMIT 10/18/00 - 10/18/01 Essex 10/18/01
National Union
CRIME-FIDELITY 7/29/99-7/29/02 Fire Ins. Co. 7/29/02
Insured's Fidelity Coverage 2,000,000
Client's Fidelity Coverage 2,000,000
Computer Fraud 2,000,000
Loss Inside premises/
Loss Outside
premises 2,000,000
Counterfeit Currency/
Depositors Forgery 2,000,000
Deductible Per Occurrence 100,000
Aggregate Deductible 300,000
National Union
DIRECTORS & OFFICERS 20,000,000 10/23/98-10/23/01 Fire Ins. Co. 10/23/01
Deductible-SEC & Y2K 150,000
Deductible-All Other 75,000
LIQUOR LIABILITY PER EACH
EVENT 1,000,000 3/31/01-1/1/02 Zurich 1/1/02
aggregate 2,000,000
BASIC LIFE AND AD&D Life: 2 x annual salary max $500k 8/1/01-4/1/02 UNUM Life Ins Co 9/30/01
w/o good health evidence, max
$750k w/good health evidence
AD&D 2 x annual earnings max
$500k or $750k if evidence of
insurability for life insurance
was approved.
LONG TERM DISABILITY 60% of monthly earnings, max $10k 8/1/01-4/1/02 UNUM Life Ins Co 9/30/01
monthly until age 65 or disabled
BUSINESS TRAVEL ACCIDENT
INSURANCE Directors, Officers, Managers 3 x 8/1/01-4/1/03 UNUM Life Ins Co 4/1/03
annual earnings max $1 m; all else
1 x annual earnings $150k
CIGNA EMPLOYEE MEDICAL
COVERAGE
(SELF INSURED) $75,000 per person stop loss 8/1/01-4/1/02 Cigna 9/30/01 ($5K
deposit made
7/12/01
approx
$28k billed
& due)
CIGNA DENTAL INSURANCE
(SELF INSURED) $1,500 per person stop loss 8/1/01-4/1/02 Cigna 9/30/01 ($5K
deposit made
7/12/01,
approx
$28k billed
& due)